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South Korea’s National Assembly speaker will visit Manila next week to enhance the longstanding friendship and cooperation between South Korea and the Philippines.

President Marcos will embark on a three-day state visit to Malaysia next week aimed at strengthening ties with the fellow Southeast Asian country and promoting the Philippines as an attractive investment and tourism destination, the Department of Foreign Affairs said yesterday.

The Procurement Service of the Department of Budget and Management has clarified that the Commission on Audit did not recommend the termination and blacklisting of the supplier of laptops for public school teachers intended for online instruction during the pandemic lockdown.

A dedicated advocate for environmental sustainability, Dann Diez is making a profound impact in Cebu through his organization, Sustainable Energy and Enterprise Development for Communities (SEED4Com).

Diez has been at the forefront of eco-driven initiatives, championing renewable energy, education, the environment, and responsible entrepreneurship.

With the upcoming ninth year of National Cleanup Day, Diez reflects on the milestones, challenges, and successes that have shaped their journey towards a greener and more sustainable future.

Empowering last-mile communities

SEED4Com, founded in 2014, focuses on improving human conditions, empowering poverty-stricken areas, and promoting rural community development in the Philippines.

By addressing grassroots gaps and providing clean energy solutions, environmental protection, education, and entrepreneurship opportunities, SEED4Com uplifts last-mile communities, ensuring a more sustainable and prosperous future.

Catalyzing environmental action

One of SEED4Com’s flagship initiatives, National Cleanup Day, has become a significant environmental movement in the Philippines.

Since its inception in 2015, the initiative has mobilized nationwide participation, bringing together local governments, academic institutions, environmental groups, and civil society organizations.

National Cleanup Day goes beyond cleanups, incorporating waste audits, brand audits, and data collection to influence policymaking and legislation.

Milestones and achievements

Since its inception, National Cleanup Day has achieved significant milestones and received widespread recognition.

SEED4Com’s efforts were endorsed by the President, Vice President, Speaker of the House, and Senators of the Philippines.

The movement has inspired other countries to replicate the initiative, with the cleanup day being celebrated every 3rd Saturday of September.

Notably, SEED4Com played a pivotal role in institutionalizing citywide quarterly cleanups in Cebu City through their advocacy and collaboration with local governments. Furthermore, SEED4Com’s focus on empowering youth has led to the creation of eco-leaders, who have gone on to represent their communities at national and international levels.

Partnerships

SEED4Com’s partnership with the Department of Environment and Natural Resources Environmental Management Bureau (DENR EMB) has been instrumental in the success of National Cleanup Day.

The collaboration has ensured the formulation of guidelines, continuous improvement of the initiative, and alignment with international events.

By leveraging corporate social responsibility programs, SEED4Com engages local governments, academic institutions, companies, and industries in supporting the cleanup efforts.

Challenges

Organizing a large-scale volunteer movement poses challenges, such as planning, funding, and data management.

SEED4Com addresses these challenges by conducting training and workshops to equip eco-leaders for coordination.

Funding is sought through partnerships with companies, and continuous improvement is sought for data collection and reporting to facilitate better analysis and policy formulation.

Communities

SEED4Com engages and motivates volunteers through training, mentorship, and effective communication channels.

Social media campaigns, workshops, and environmental outreach programs play a crucial role in creating awareness and inspiring active involvement.

Sustainability

The National Cleanup Day has led to a positive shift in behavior among young people, with a growing adoption of reusable water bottles, eco-bags, and minimalist or zero-waste lifestyles.

The initiative has inspired local governments to implement ordinances on single-use plastics and establish barangay materials recovery facilities.

Although comprehensive statistics are challenging to gather, the increasing number of cleanups and inquiries from companies for environmental outreach showcase the initiative’s impact.

Through the remarkable efforts of Dann Diez and SEED4Com, communities in the Philippines are being empowered to embrace environmental sustainability.

The National Cleanup Day, SEED4Com’s flagship initiative, has become a catalyst for change, inspiring widespread participation, and positive environmental outcomes.

As they continue their journey, Diez and SEED4Com remain dedicated to building a greener future and nurturing a sense of responsibility towards the planet.

As the Cebu tourism and hospitality industries rely on the island’s inherent beauty, the importance of preserving this gift has become necessary amid the challenge of global environmental threats.

With these challenges in mind, Cebu’s hospitality industry is taking a bold step to contribute to the movement to preserve the environment by joining hands with the local community to promote environmental awareness in the most creative way possible.

One such advocate that has internalized the value of environmental preservation is Asmara Urban Resort and Lifestyle Village is one of Cebu’s best lifestyle spots.

To the naked eye, the resort is a lush, intimate, tropical paradise that has entranced its guests and customers for over four years.

Eco-architecture

An architectural feat in itself, Asmara is also a total ecological project.

Carlo Cordaro, the resort’s chief executive officer, said that he designed the resort’s Lifestyle Hotel to be suited for the Philippines’ tropical climate by incorporating earth-friendly technology into its structure.

“We use raw materials from mother earth. The main structure of the Lifestyle Hotel’s three-story building is in Glue Lam, a technology that uses abundant plantations trees like spruce and pine which thanks to a well-developed process converts into solid columns and beams that are capable of resisting typhoons and earthquakes better than traditional construction materials that are as strong as of prime raw materials like iron, stone, and cement,” Cordaro said.

The resort’s ecological venture and mission is a continuous movement as it has been able to come up with more creative and innovative ways to make use of Cebu’s wet climate.

“Due to the scarcity of water in the Banilad area, I designed a double inclined roof which allows the rainwater to fall to our main lounge reverse pyramid which can collect up to 20,000 liters on a very rainy day,” Carlo said.

One of the most striking features of Asmara is its all-wooden structures, meticulously crafted using sustainably harvested spruce timber.

This conscious choice of building material showcases the resort’s dedication to minimizing its environmental impact.

By opting for wood over traditional materials like iron, stone, and cement, Asmara not only exudes a warm and inviting ambiance but also reduces its carbon footprint, contributing to the conservation of precious natural resources.

Sustainable oasis

Asmara’s sustainable movement extends to its wellness and sports facilities.

With three open-air clay tennis courts, named after countries that have hosted international tournaments, the resort offers guests the chance to engage in an eco-friendly sporting experience.

Additionally, an air-conditioned squash court, which can also be transformed into a table tennis court, provides fast-paced fun for enthusiasts.

Beyond sports, Asmara’s upper deck becomes a serene sanctuary for scheduled yoga classes. Surrounded by the beauty of nature, guests can immerse themselves in wellness practices that harmonize the body, mind, and environment.

Sustainable hospitality

Asmara Urban Resort and Lifestyle Village stands as a shining model for sustainable hospitality, demonstrating that a luxurious and eco-conscious experience can go hand in hand.

By embracing sustainability in all its facets, the resort paves the way for a more responsible tourism industry—one that cherishes the environment and nurtures the local community.

As guests immerse themselves in the exquisite beauty and hospitality of Asmara, they become part of a greater movement—one that champions the ethos of sustainability and sets a new standard for responsible luxury in the heart of Cebu.

Planting a tree and saving the environment is now within a thumb’s reach. Turn your thumb green with GCash’s in-app sustainable initiative.

With the GForest feature of the Philippines’ leading mobile wallet, GCash, you can now be a green hero and help combat climate change one tree at a time.

Here is everything you need to know about this G-Forest:

Earn green energy and plant trees by using the GCash app

Doing errands such as buying prepaid load, sending money, paying bills, and shopping has become easier and more accessible with just a few taps in the GCash app.

Apart from making day-to-day life incredibly convenient, GCash also allows users to plant trees through these cashless transactions.

For every digital transaction, GCash users earn green energy points which can be used to plant a virtual tree on GForest.

Using a science-based approach, green energies are awarded according to the actual greenhouse gas reduction equivalent of digital transactions like sending money, paying bills, and buying load.

An actual tree will be planted across various sites in the Philippines, through GCash’s partners.

It's an easy, fun, and convenient way of helping Mother Earth!

Organizations, people's groups, and local commu- nities take part in this initiative

GForest has partnered with credible international and local organizations in coming up with a science-based approach in addressing climate change through reforestation.

Some of its partner organizations include the World Wide Fund for Nature, the ABS-CBN Foundation, and the Ramon Aboitiz Foundation Inc. (RAFI).

Different people's groups and local communities have also been tapped in planting, monitoring, and taking care of seedlings in the planting sites.

This also serves as a source of additional income for locals who will also benefit from the reforestation efforts in their area.

2.5 million actual trees have been planted as of June 2023

GCash has surpassed its target of planting 2.3 million trees by the end of 2023 – a big feat since the launch of GForest in 2019.

Halfway through 2023, GCash recorded a total of 2.5 million trees planted in various sites nationwide.

In Luzon, the sites are Ipo Watershed, La Mesa Ecopark, and Culion, Palawan.

In the Visayas, the sites are Luyang Watershed, Tañon Strait, and most recently, Negros Oriental.

Lastly in Mindanao, the sites are in the provinces of Sarangani and South Cotabato.

Cebu has three GForests in partnership with RAFI

Cebu has our very own GForests in the Luyang Watershed in Carmen and GForest Mangroves in Daanbantayan, San Remigio, and Medellin.

This is made possible through GCash’s partnership with RAFI through its One to Tree Program.

The Luyang Watershed is a significant ecological area in Cebu as it supplies at least twenty-four thousand cubic meters of surface fresh water.

The enhancement of tree cover in the two GForests will improve rainwater percolation.

A total of 1,075,000 mangroves and upland trees have been planted in Cebu since 2021. For the remainder of 2023, 75,000 more mangroves will be planted, completing the target of 1,150,000 trees spread across three projects in Cebu province.

G for 5m trees in 2025!

After hitting their 2.3 million trees target this year, GCash is doubling their goal. GForest is now set on planting 5 million trees by the end of 2025.

Help GCash achieve this target and build GForests around the country. Use your GCash app, earn green energy points, put your green thumbs to work, and plant virtual trees for a #BetterTomorrow!

Nestled in the heart of Cebu, AppleOne Properties stands as a beacon of excellence in the realm of real estate, offering commodities and amenities of unparalleled quality.

Yet, what truly sets them apart is their unwavering dedication to environmental sustainability, woven seamlessly into the fabric of their vision.

At the forefront of their sustainable endeavors are two prized properties in the developer’s hospitality division — the Diamond Suites and Residences (DSR) and Club Serena Resort.

Diamond Suites and Residences

Diamond Suites and Residences, a contemporary three-star hotel amidst the vibrant city of Cebu, has become a shining example of sustainable practices.

Aiming to minimize paper waste, the establishment has embraced the digitization of its offices, cutting down on unnecessary printing.

Moreover, energy-efficient LED lights now illuminate the premises, reducing electricity consumption and its ecological footprint.

Committed to promoting eco-friendly dining experiences, the hotel employs reusable and biodegradable food containers, ensuring that their delectable offerings leave behind minimal waste.

They even take the extra step of serving water in half-filled glasses, avoiding unnecessary water wastage.

Ingeniously, the staff at Diamond Suites and Residences found innovative ways to repurpose waste. Fruit peelings are given a second life as brining agents, while used oil finds purpose through proper disposal.

Even food leftovers are thoughtfully repacked, ensuring that not a single morsel goes to waste. Such meticulous attention extends to their food purchases, where precise calculations are made to minimize excess and maximize sustainability.

The hotel rooms themselves are not exempt from their green initiatives.

Instead of using single-serving plastic shampoo sachets, guests are treated to bath gel dispensers, and drinking water is presented in glass bottles.

Informative materials on eco-friendly practices adorn the rooms, encouraging guests to partake in their commitment to sustainability.

Club Serena Resort Moalboal

Heading southwest to the picturesque Moalboal in Cebu, we find Club Serena Resort, a coastal haven nestled amidst thriving marine life.

Here, too, sustainable practices thrive harmoniously with the tranquil environment.

Club Serena Resort takes full advantage of natural ventilation, fostering good airflow in public areas such as the lobby and restaurant.

The result is a reduction in electricity consumption and a gentle caress of fresh air that enhances the guest experience.

In its endeavor to cut down on waste, the resort exclusively employs reusable utensils and serves food items in glass or ceramic containers, foregoing single-serving packaging.

Even the choice of transportation showcases their eco-consciousness, with pedicabs gracefully replacing gas-guzzling golf carts or buggies.

Ingenious light sensors grace the resort’s premises, gracefully illuminating spaces only when needed, thus conserving electricity. The resort operates with efficiency, diligently considering occupancy levels to manage facilities and staff, minimizing unnecessary travel and energy consumption.

A testament to their commitment, Club Serena Resort diligently operates a manual sewage treatment plant (STP).

Waste materials are collected and responsibly processed off-site, ensuring that the natural beauty surrounding the resort remains pristine.

Through the amalgamation of sustainable practices at Diamond Suites and Residences and Club Serena Resort, AppleOne Properties emerges as a trailblazer in eco-friendly initiatives.

Their unwavering dedication to sustainability not only sets a commendable example for the real estate industry but also leaves a lasting positive impact on the environment they hold dear.

As their properties stand as living testaments to their commitment, AppleOne Properties proves that embracing sustainability is not only commendable but also essential in shaping a greener future for generations to come. S

(Photo credit: Troy Wayrynen-USA TODAY Sports) Spain sprinted ahead of Costa Rica with an own goal in the 21st minute and never looked back in a suffocating start to its Women's World Cup bid Friday in Wellington, New Zealand. Spain outshot Costa Rica 45-1 in the 3-0 win, netting all three goals in a rapid-fire six-minute stretch during its Group C clash. Aitana Bonmati scored two minutes after the own goal, and a defle

July 21, 2023 10:45 PM

Scientists aren’t sure of the exact rate at which the Batagaika crater is expanding.

Today’s issue of SunStar Cebu is printed on recycled paper. It’s our contribution to the global challenge of preserving the environment.

In the digital age, paper has remained an integral part of daily life so that the global production of paper and cardboard now exceeds 400 million metric tons annually, driven largely by packaging paper and board, which has seen a surge in demand with the rise of online shopping.

This growing demand for paper presents environmental challenges such as rapid deforestation, whose effects include loss of natural habitats and species, soil erosion and global warming.

To help reduce the demand for paper in the publishing industry, SunStar Cebu will print its newspaper on recycled paper on the weekends of July and August.

No trees were cut to produce this paper because its raw materials come from discarded paper like office wastepaper, envelopes and paper bags. With no bleaching chemicals used, the paper sports a brown shade. Recycling also prevented these discarded materials from contributing to the volume of solid waste in landfills.

However, our dedication extends beyond paper.

Through the SunStar Green initiative, we will tackle pressing environmental issues, encourage sustainable living and celebrate eco-friendly initiatives to inspire positive change in our vibrant community.

With responsible printing, community engagement, advocacy and education, we aim to create a positive environmental impact, foster a sense of environmental stewardship and empower a sustainable Cebu.

THE Cebu Provincial Government has slammed the refusal of the Department of Public Works and Highways (DPWH) to pay just compensation for its encroachment on Capitol-owned lots on Osmeña Boulevard, Cebu City.

Cebu Gov. Gwendolyn Garcia made her sentiments known in a press conference on Friday, July 21, 2023, after receiving a reply letter from the DPWH Central Office last Monday, July 17.

In the letter, Undersecretary for Legal Service Anne Sharlyne Lapuz said the DPWH will not pay the Capitol for the lot encroachment, as the lots claimed by the Province were only being “held in trust for the state for the benefit of its inhabitants.”

Cebu Province made a verbal demand to DPWH Central Visayas for compensation last May over the occupied property now being used as a national road. The regional office referred this to its Central Office.

Garcia said: “In the case of Osmeña Blvd., the titles I referred to in fact have the annotation for a road lot which would only corresponds to 20 meters in width. Upon inspection by our engineers, it was proven that the DPWH had extended beyond the 20-meter width limit. Two meters on each side, therefore encroaching on a total of four meters width and all the way up to Fuente Osmeña.”

According to Capitol legal consultant Rory Jon Sepulveda, the DPWH Central Office questioned the ownership of Cebu Province of the disputed lot, asking the local government unit (LGU) to prove that it acquired the property through its private capacity.

“This undersecretary made the presumption that we did not acquire this property in our private capacity and we are just a mere trustee of the National Government,” Sepulveda said.

DPWH cited the Supreme Court (SC) ruling of the case of Salas vs. Jarencio (City of Manila) and Sangguniang Panlalawigan of Bataan vs. Garcia (Province of Bataan), but Sepulveda argued that these rulings were inapplicable to the present issue.

“We found out that these cases involved a sovereign act, an act of Congress, declaring certain properties of local government units to be used for a national government purpose. So applying the principle of stare decisis or the rule of precedents would apply to our case then? So the question arose, is there an act of Congress that particular portion of property made into a road? None,” he added.

Sepulveda clarified that this was not a case where the properties of the national government were handed down to the care of the LGU as trustee. Rather, Cebu Province had acquired the lots back in the 1930s in its own private corporate capacity.

The first provincial seat of Cebu was on M.J. Cuenco Avenue across the now Plaza Independencia until it was transferred in 1937 to its current location along Escario Street.

He said before the transfer of the seat, the lot was formerly known as Hacienda Osmeña until it was developed into Cebu Heights Subdivision, owned by Cebu Heights Company Inc. The Provincial Government at that time acquired a large portion of the lot from the private firm to use it as an access road for the entry and exit of the new Capitol Building.

This road refers to the now national road from Fuente Osmeña Circle to the Capitol Building.

“DPWH has no more basis to hold off our just and legal claim of just compensation. And the just compensation will be the value of the property at the time now. If they will not agree to negotiate with us, the value would then be that we will be compelled to go to expropriation,” Sepulveda added.

Last April, the DPWH Cebu City District Office said the DPWH encroached on 42,615 square meters of Capitol property on Osmeña Boulevard, of which 24,242 square meters was on the right side of the road and the rest on the left side.

Capitol has also called out private firms for encroaching on Capitol lots along the same street, charging them rent and threatening those who don’t pay with ejectment. (EHP, WITH CTL)

July 21, 2023 10:20 PM

Four men were arrested on Thursday after a video showed two women being paraded naked and groped by a mob.

THE Cebu City Government has addressed several issues that the Commission on Audit (COA) raised in its 2022 audit report, including the undistributed Typhoon Odette (Rai) cash aid, slow implementation of a drainage project and uncollected real property taxes.

However, when asked about the payments of P1.5 million for shirts and P1.7 million for meals and snacks during various activities that COA deemed unnecessary, the city officials led by City Administrator Collin Rosell and City Legal Officer Jerone Castillo did not comment during a press conference at City Hall on Friday, July 21, 2023.

On the undistributed financial aid for Typhoon Odette victims, Homer Mariano Cabaral, the city’s resident ombudsman, explained that the City had begun investigating deficiencies in the distribution of the funds even before the COA audit report was issued. These deficiencies included the presence of signatures opposite the names of some constituents who claimed to have not received the cash assistance, duplication of names and payments, and non-submission of complete supporting documents.

The City launched an investigation after a barangay reported that the list of beneficiaries held by its barangay captain did not match the one held by COA.

Cabaral said the City responded to the complaint by forming a fact-finding committee to investigate the case, as recommended by Mayor Michael Rama. Through this investigation, the City discovered that it had saved up to P9 million due to undistributed financial assistance, which was then deposited back into the city treasury.

As for COA’s observation on selective distribution of financial aid, Cabaral admitted that there had been lapses in the executive order issued by the mayor. He recommended conducting an investigation on 80 barangays, especially those villages where several individuals did not receive financial aid for Typhoon Odette.

The state auditors reported that of 241 residents it had randomly interviewed from 10 barangays, 91 confirmed receiving the cash aid, while 150 did not.

Drainage project

On the P199.323 million advance payment for a P1.3 billion drainage project awarded in 2020, Castillo said the project was initiated under then mayor Edgardo Labella’s administration.

State auditors deemed the advance payment made in 2021 excessive because the contractor had failed to complete the project as of the end of 2022.

“But what was clear in the COA report is that this was signed allegedly by the former city administration, in the person of Atty. Floro Casas [Jr.], even without the authority of the City Council to enter into the contract, signing for and on behalf of the former mayor,” Castillo said.

He said what Casas, then the city administrator, did was alarming because the mayor cannot sign any contract without the express authority of the City Council, which is mandatory.

“If it is true that he signed the contract without the authority of the city council, then he knew the consequence of that serious matter,” Castillo added.

In its 2020 audit report, COA flagged Labella’s delegation of authority to Casas, stating that this may create a risk—the City Government could enter into transactions without the mayor’s knowledge.

State auditors found out that Labella granted Casas, his city administrator, the authority to sign disbursement vouchers, payrolls, purchase requests and other official documents that ran contrary to the National Guidelines on Internal Control Systems and pertinent provisions of the Government Accounting and Auditing Manual.

SunStar Cebu reported in 2021 that COA had noticed that it was Casas who signed most of the documents in 2019.

The report quoted Casas as saying that the mayor issued a memorandum in 2019 delegating him the authority. The memorandum was confirmed by the Cebu City Council by passing a resolution, he said.

Labella died on Nov. 19, 2021 due to septic shock secondary to pneumonia. Before this, he had gone on multiple medical leaves and hospital admissions.

Rama, then the vice mayor, succeeded him.

Uncollected RPTs

As for the uncollected real property taxes (RPTs), Castillo said the City Government will avail itself of all administrative remedies for delinquent taxpayers.

Castillo said that through the Task Force Strategic Assessment for Your Assets and Worth (Sayaw) sa Buhis (for tax), the City discovered that there are still large numbers of uncollected RPTs.

He said the properties of taxpayers who fail to pay their taxes will be subjected to levy by the City Government. Through levy, all properties of delinquent taxpayers will be subjected to legal seizure.

Castillo said the task force is giving delinquent taxpayers leeway to settle their dues to the City.

“We are telling you now to pay your taxes. Those who have not declared their properties, declare them. Those improperly declared, declare them properly,” he said.

If they don’t, he said the City will be forced to seize their properties and auction them off.

“I hope we will not go in that direction. We encourage everyone to declare their properties that ought to be declared and pay their unpaid taxes,” Castillo said. (AML)

The Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) 74-2023, amending Section 5 of Revenue Regulation 5-2021 regarding the sworn statement (Annex A) and sworn declaration (Annex B) to be submitted in order to avail of the Income Tax Exemption of foreign-sourced dividends. The annexes now provide for standard templates in case the domestic corporation receives multiple foreign-sourced dividends qualified for the income tax exemption.

Sworn statement

To qualify for the income tax exemption, domestic corporations must attach Annex A to their Annual Income Tax Return for the taxable year in which the dividends were received. Annex A should include the following details: the name and designation of the corporate officer, the name of the domestic corporation, taxpayer identification number, business address, taxable year covered, the name of foreign subsidiaries, amount of dividends, date of receipt, the reinvestment choice, and the date of the sworn statement.

Sworn declaration

In addition to the sworn statement, domestic corporations are required to attach Annex B to their Annual Income Tax Return. Annex B should include the following details: the name and designation of the corporate officer, the name of the domestic corporation, taxpayer identification number, business address, names of foreign subsidiaries, amount received, amount utilized, date of disbursement, purpose of disbursement and the date of the sworn declaration.

Compliance

Attaching Annexes A and B along with the Annual Income Tax Return is sufficient to avail of the income tax exemption. However, if there has been partial or non-utilization of foreign-sourced dividends, the concerned domestic corporation must amend its Annual Income Tax Return for the specific period and pay the corresponding income tax due, including any applicable surcharge, interest and penalties.

Please be guided accordingly.

Source:

P&A Grant Thornton

Certified Public Accountants

(New York) - The Thai Constitutional Court's decision to suspend from parliament the leading candidate for prime minister on politically motivated charges is a serious blow to democracy in Thailand, Human Rights Watch said today. The reformist Move Forward Party, led by Pita Limjaroenrat, 42, had secured 151 parliamentary seats, the most votes of any party in the May 14,

BASIC Energy Corp. adds another wind power prospect to its project pipeline after the Department of Energy (DOE) approved its Wind Energy Service Contract (WESC) for the Balayan Nearshore Wind Power Project.

The WESC received took effect on June 22, 2023.

The proposed project is located about one kilometer east of the Calatagan peninsula in Batangas.

Under the WESC, the corporation was appointed and constituted by the DOE to have an exclusive right to explore, develop and use the wind energy resources within the 2,835 hectares of contracted area.

The project will be able to generate and deliver power energy to the grid ranging from 140 to 168 megawatts (MW) based on the 4-WTG model simulation done by a foreign third-party consultant.

With the addition of the Balayan WESC to the existing Mabini and Panay WESCs, the wind power portfolio of Basic Energy stands at an estimated 350-400 MW. (PR)

PRYCE Corp.’s aggregate net income during the year’s first half rose 15.6 percent to P819.68 million from P708.78 million in the same period in 2022 due mainly to the improvement of margins in liquefied petroleum gas (LPG) as Luzon households started switching to branded LPG.

But consolidated revenues dipped 3.2 percent to P9.58 billion following the 26.1 percent drop in the average contract price to US$611.75 from $827.92 per metric ton last year.

LPG sales volume grew 8.9 percent. Operating expenses rose because of inflation and increases in the cost of logistics, salaries and wages, fuel and other items.

On contributions to consolidated revenues, the LPG business contributed P9.04 billion (94.3 percent); industrial gas products, P392.3 million (4.1 percent); and real estate and pharmaceuticals, P149.7 million (1.6 percent).

Earnings per share grew 16.5 percent to P0.3951 from P0.3391. (PR)

MREIT Inc., the Real Estate Investment Trust company of township developer Megaworld Corp. (MEG), has been notified by MEG’s board of directors of the approval of the sale of 279.4 million common shares in MREIT through an overnight placement.

The shares were sold at a transaction price of P13 per share, or a total of P3.63 billion.

Amid strong demand led by domestic and international long-only investors, the transaction was upsized by 10 percent from 254 million shares.

The transaction increases MREIT’s free float.

MEG will use the proceeds to fund further development of high quality commercial assets.

All the MREIT shares sold in the transaction are secondary shares owned by MEG, ensuring that the ownership of existing shareholders of MREIT will not be diluted.

Post- transaction, MEG will hold a 55.6 percent stake in MREIT. (PR)

A LABOR group based in Cebu has urged the National Government to address job security in the country as it criticized the layoff of more than 4,000 workers from a garment factory at the Mactan Economic Zone (MEZ) in Lapu-Lapu City.

The reason behind it is closures of factories, according to Partido Manggagawa (PM) Cebu Chapter.

“These are factory closures, not just mass layoffs. Even though the economy is growing, workers are suffering. More than 4,000 breadwinners have lost their jobs, and their families will now have to deal with all the difficulties of joblessness,” PM Cebu Chapter spokesperson Dennis Derige said in a statement sent to SunStar Cebu on Friday, July 21, 2023.

PM Cebu Chapter argued that the situation at MEZ exposes the vulnerability of a development model founded on foreign investment and export production.

“We need a paradigm shift away from export orientation. Economic and social development should be founded on a planned industrial policy that prioritizes domestic production even as it takes advantage of export markets,” Derige said.

PM Cebu Chapter said Mactan Apparel Inc. and its sister companies, MAI Printing and FIT Printing, will be closing down. These factories exclusively manufacture sportswear for the global brand Adidas and are part of the Sports City conglomerate, the biggest employer in MEZ.

Third wave

The retrenchment at Mactan Apparel is the third wave of mass layoffs at Sports City, PM Cebu Chapter said.

At least 4,000 workers were laid off across different garment factories at Sports City in September 2022, while there were 4,000 workers retrenched in September 2020 at the height of the Covid-19 pandemic.

“We call on global brand Adidas to explain why their supplier factories are closing down. Adidas should step up, be transparent and clarify to workers who made their sportswear why they are losing their jobs,” Derige said.

“Do not make the usual alibi for not doing anything that your supplier is complying with the minimum standards set by law. If Adidas is indeed a good corporate citizen, then it must exercise responsibility for the loss of livelihood of 4,000 workers,” he added.

The group urged President Ferdinand “Bongbong” Marcos Jr., who will give his State of the Nation Address (Sona) on Monday, July 24 to create more jobs.

“We demand of him: Trabaho at bigas sa bagong Pilipinas! Kung walang trabahong regular at walang murang bigas, bigo ang Pilipinas sa iyong pamumuno (Jobs and rice in the new Philippines! Without regular jobs and affordable rice, the Philippines will fail under your leadership),” Derige said.

The labor group called out the current administration to act upon its promises of job security, wage hikes and cheap prices for good. Various groups will stage a protest on Colon Street, Cebu City on the day Marcos delivers his Sona. (EHP)

The internet is buzzing with the most heartwarming and wonderful concept of “healing your inner child.” Everyone’s jumping on board on collecting all those sweet childhood treasures people used to cherish when they were younger—seashells, secret notes and chocolate coins, because hey, nostalgia is the name of the game.

For a few doll-collectors out there, TikTok users have been raving about Sonny Angels. These dolls are created by a Japanese named Toru Soeya and were released to the market in 2005. The toy manufacturer emphasizes that the main idea behind these toys is their ability to become the perfect companions, spreading happiness and providing comfort to young adult women.

Sonny Angels’ naked appearance aims to embody freedom from material distractions. Its delightful expressions are enough to steal the show. These lovable little figures truly embrace the idea that less is more.

Collectors from all over the world showing off their Sonny Angel collections wearing nothing but only cute headgears and adorable smiles that make them even more irresistible.

But here’s the coolest part: these angel little boys are all about surprise and excitement. Each one comes in a “blind box,” which means that buyers won’t know which Sonny Angel they would get until they tear open its adorable package.

According to its page, Sonny Angel’s series contains random “secret figures” coveted by collectors. Moreover, there are ultra-rare versions, limited to 10, 50 or 100 pieces ever made.

The initial collection, titled “Animal Series Ver. 1,” marked the debut of Sonny Angels mini figures adorned with adorable animal headgear. Over the span of 14 eventful years, a whopping 650 unique figures have come to life.

“Seventeen years have passed since the birth of Sonny Angel, who was born to make us all smile and add a little fun to our lives. From the corner of a room to a prominent display on a shelf, he has been delivering smiles and healing all around the world. The Sonny Angels regular series has been ‘refined;’ cuter and more stylish to deliver even more happiness,” it said in its official page.

In the Philippines, Sonny Angels have found a home in Fully Booked branches, with prices ranging from P400 to P550. The excitement doesn’t stop there, enthusiasts are bustling through online platforms, eagerly trading and selling their beloved collections. The thrill of the hunt has sparked meet-ups, where like-minded fans come together to share their passion for these delightful figures.

Sonny Angel’s charm knows no boundaries as it is proudly embraced by enthusiasts in 33 diverse countries.

The year 2017 witnessed the grand opening of official stores in Ishigakijima, Okinawa Prefecture, and Seoul, Korea, further solidifying its global presence. Not stopping there, the excitement continued in 2018 with the inauguration of a third official store in Taiwan, celebrating the delightful appeal of Sonny Angel with even more fans worldwide.

When the stresses of adulthood start creeping in, these little wonders are here to sprinkle some happiness and make everything better. Like a balm for the soul and an embrace for your inner child, their motto whispers a gentle reminder to “heal your heart.”