BIZ BUZZ: Disarray at the SRA
Another day, another headache for President and Agriculture chief Marcos.
There is growing disarray at the Sugar Regulatory Administration (SRA) as to who should lead the agency amid a looming supply shortage of the sweetener.
Biz Buzz learned that Hermenegildo Serafica refused to make way for the next SRA chief just yet, saying he is not covered by the President’s first directive.
Memorandum Circular No. 1 (MC 1) declared certain positions vacant effective noon of June 30.
These include presidential appointees whose appointments are classified as coterminous and those occupying positions created in excess of the authorized staffing pattern, as well as noncareer executive service officials occupying career executive service positions and contractual or casual employees.
In compliance with Mr. Marcos’ directive, SRA deputy administrators Guillermo Tejida III, Brando Noroña and Ignacio Santillana promulgated a joint memorandum that designated Santillana as officer in charge (OIC) of the SRA. The SRA website also shows Santillana as OIC.
Serafica then released a memo saying the SRA administrator as an appointive director in a government-owned and -controlled corporation (GOCC) is not among the positions covered by MC 1.
He explained the SRA administrator, despite being a presidential appointee, is not a coterminous appointee and career executive service position, meaning he is not required to leave the SRA the moment Rodrigo Duterte ended his six-year term last month.
Serafica said Republic Act No. 10149, a law governing GOCCs, allowed him to remain on holdover capacity even beyond the end of the Duterte administration “until the successor is appointed and qualified.”
He even sought the help of the Department of Agriculture’s legal office, the Governance Commission for GOCCs and the Presidential Management Staff to safeguard the office “from usurpation of authority or abandonment of the same.”
According to an insider, the SRA office is currently in chaos over the leadership tussle. The employee association, meanwhile, is expected to issue a manifesto declaring support for Santillana.
Judging the situation, Mr. Marcos, who is already dealing with a ton of challenges besetting the agriculture sector, needs to act swiftly to put the house in order before it’s too late.
—Jordeene B. Lagare
Emperador milestone
Following the traditional dance of the auspicious dragons and the banging of the gong by tycoon Andrew Tan and SGX Group CEO Loh Boon Chye, Emperador Inc. is now officially listed on the Singapore Stock Exchange (SGX), making the leading global manufacturer, bottler and distributor of brandy, Scotch whisky and other alcoholic beverages the first Philippine company primarily listed on the Philippine Stock Exchange to also be traded on the SGX.
Tan, who chairs Emperador, said he was “very grateful for this moment” and described Thursday’s listing on SGX as an important milestone for the firm that started in 1979 as a small plant in Manila, as it “reinforced the globalization” of the company whose brands include The Dalmore, Fettercairn, Jura and Singleton Scotch whisky, Fundador and Emperador brandy.
The listing likewise filled Emperador director Kevin Tan with pride and stirred fond childhood memories of sticking labels on Emperador bottles for P150 a day. He grew up along with Emperador, which was formed the year before he was born.
The younger Tan says the group’s eyes are fixed on the mission to earn at least half of its annual revenues from outside the Philippines by 2025, with the single malt category represented by the apex brand The Dalmore leading the charge.
