CAGAYAN DE ORO CITY—The Department of Science and Technology (DOST) is dedicated to steering the nation’s shift toward a green and circular economy, but Science Secretary Renato U. Solidum Jr. acknowledged that the effort cannot be achieved alone. “We need the cooperation of industries, policy-makers and the public to make the circular economy a reality,” he said in his speech on the DOST Circular Economy Initiatives toward Smart and Sustainable Communities at the recent 2024 National Science and Technology Week (NSTW) in this city. Circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible, thereby extending the life cycle of products. In his address, Solidum highlighted the urgent issue of plastic pollution, which poses a significant challenge for the Philippines. Plastics, while widely used, are non-biodegradable, breaking down into microplastics that contaminate oceans and landfills. According to Our World in Data, the global production of plastic waste reaches about 350 million tons each year, with roughly a quarter, not being handled properly. It is neither recycled, burned, nor securely stored in landfills, which increases the risk of it polluting the environment. In the Philippines, the SEA Circular, a project of the UN Environment Programme and the Coordinating Body on the Seas of East Asia, reported that the country is among the leading contributors to marine plastic pollution. Between 0.28 and 0.75 million tons of plastic waste enter the oceans and coastal areas of Manila Bay each year. The plastic waste primarily consist of cigarette butts, food containers, straws, stirrers, plastic utensils, beverage bottles and caps, and plastic bags. “This is a result of the limitations we see in a linear economy,” Solidum said, explaining that the country’s economic model has long followed a “take, make, and dispose” approach. This system, he said, puts immense pressure on natural resources, leading to significant waste generation. He explained that a shift toward a more sustainable approach is needed, that encourages the reusing, repurposing, and recycling of materials. “Adopt our technologies and use the available technologies that we have,” he said. Solidum pointed out that DOST is well-positioned for this challenge, with its extensive network of experts, state-of-the-art facilities, and a proven history of developing technologies that have evolved into successful businesses. “We invite you to collaborate with us in further building a circular economy that benefits everyone,” Solidum said. Legislative push gains momentum In line with this, Solidum noted that the DOST is contributing to the discussions on bills in the House of Representatives (HOR) aimed at establishing a national circular economy framework. The HOR “is also working on policies intended to institutionalize and advance the circular economy,” he said, highlighting the ongoing legislative momentum for sustainability. Meanwhile, in his keynote speech at one of the plenaries of the NSTW, Sen. Juan Miguel Zubiri revealed that the DOST’s budget for 2025 will increase to over P29 billion after Senate deliberations, a significant rise from the P26.9 billion approved by the HOR and the P28.4 billion outlined in the National Expenditure Program. Zubiri explained that the overall increase in the DOST’s budget stems from his belief that science and technology are vital to the nation’s progress. This funding boost will support critical initiatives—including improvements in weather forecasting, education, textile innovation, and the development of artificial intelligence—which Solidum welcomed as essential for advancing key programs and research projects. Framework for circular economy Moreover, to support this vision, Solidum said that through the DOST’s Science, Technology, and Innovation for Circular Economy (STI4CE), a strategic framework has been developed to integrate science, technology, and innovation into the shift toward a more sustainable, circular economy. He explained that the framework sets out key objectives, such as driving innovation, empowering stakeholders, encouraging leadership in sustainability, and promoting transformative solutions, while embedding circular economy principles. According to Solidum, key enablers—such as research and development, funding, partnerships, technology, infrastructure, policy support, and public awareness—are essential to the success of these initiatives. “By addressing these elements, the STI4CE aims to promote human well-being, foster wealth creation, reinforce wealth protection by protecting natural resources, and institutionalize sustainability across various sectors,” he said. The initiative covers critical areas—such as education, health, food, agriculture, transport, energy, climate, and environmental protection—all aimed at advancing key Sustainable Development Goals. With a total investment of P1.3 billion, the DOST has laid out its STI4CE Roadmap. The roadmap is divided into four key segments: Solidum shared updates on projects under the STI4CE initiative aimed at promoting a sustainable circular economy. For the Think Green segment, one project focuses on creating a laboratory, the “Establishment of the Biodegradability, Eco-toxicity, and Compostability Testing Facility in the Philippines”, to test biodegradable, compostable, and eco-toxic qualities of alternative packaging materials. Another project, “PlastiZen,” encourages citizen participation in reducing plastic pollution by expanding a platform to gather more data on marine litter. In the Make Green strategy, researchers are developing more sustainable ways to produce plastics using plant oils instead of fossil fuels. They are also working on creating lightweight construction materials from agricultural waste, such as foamed composites. The project, “Post-radiation Reactive Extrusion of Plastic Waste Plastic,” aims to improve recycled plastics through a process called radiation intervention. The Turn Green strategy includes a project in Mindanao to create eco-cement from local industrial waste and reservoir sediments, which reduces carbon dioxide emissions compared to regular cement. Another project focuses on the establishment of a 25-kW direct combustion waste-to-energy integrated system at the University of the Philippines Los Baños, which generates electricity from municipal waste. Additionally, a project led by Mindanao State University is studying new methods to convert low-quality waste materials into fuel for power generation. Solidum said that DOST has led 53 research and development projects focused on advancing the circular economy to tackle plastic waste management. These efforts involved the development of technologies that transform plastic waste into useful materials, as well as methods for producing biodegradable alternatives and finding sustainable ways to recycle and repurpose textile and agricultural waste. By collaborating with industries, academic institutions, and global organizations, the Science chief explained that they exchange knowledge, expand innovations, and create best practices that contribute to advancing sustainability initiatives.
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WASHINGTON (AP) — Pete Hegseth, President-elect Donald Trump’s nominee to lead the Defense Department, said he had a “wonderful conversation” with Maine Sen. Susan Collins on Wednesday as he pushed to win enough votes for confirmation. He said he will not back down after allegations of excessive drinking and sexual misconduct. Collins said after the hourlong meeting that she questioned Hegseth about the allegations amid reports of drinking and the revelation that he made a settlement payment after being accused of a sexual assault that he denies. She said she had a “good, substantive” discussion with Hegseth and “covered a wide range of topics,” including sexual assault in the military, Ukraine and NATO. But she said she would wait until a hearing, and notably a background check, to make a decision. “I asked virtually every question under the sun,” Collins told reporters as she left her office after the meeting. "I pressed him both on his position on military issues as well as the allegations against him, so I don’t think there was anything that we did not cover.” The meeting with Collins was closely watched as she is seen as more likely than most of her Republican Senate colleagues to vote against some of Trump’s Cabinet picks. She and Alaska Sen. Lisa Murkowski, a fellow moderate Republican, did not shy from opposing Trump in his first term when they wanted to do so and sometimes supported President Joe Biden’s nominees for the judicial and executive branches. And Hegseth, an infantry combat veteran and former “Fox & Friends” weekend host, is working to gain as many votes as he can as some senators have expressed concerns about his personal history and lack of management experience. “I’m certainly not going to assume anything about where the senator stands,” Hegseth said as he left Collins’ office. “This is a process that we respect and appreciate. And we hope, in time, overall, when we get through that committee and to the floor that we can earn her support.” Hegseth met with Murkowski on Tuesday. He has also been meeting repeatedly with Iowa Sen. Joni Ernst, a military veteran who has said she is a survivor of sexual assault and has spent time in the Senate working on improving how attacks are reported and prosecuted within the ranks. On Monday, Ernst said after a meeting with him that he had committed to selecting a senior official to prioritize those goals. Republicans will have a 53-49 majority next year, meaning Trump cannot lose more than three votes on any of his nominees. It is so far unclear whether Hegseth will have enough support, but Trump has stepped up his pressure on senators in the last week. “Pete is a WINNER, and there is nothing that can be done to change that!!!” Trump posted on his social media platform last week. On Thursday, Hegseth plans to meet with a Democrat — Pennsylvania Sen. John Fetterman. Fetterman confirmed the meeting to The Associated Press but did not say whether he was considering supporting Hegseth or what he planned to discuss. ___ Associated Press writer Ali Swenson contributed to this report. Mary Clare Jalonick And Matt Brown, The Associated Press
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Franklin Access (Formerly Franklin Wireless) Successfully Defends Shareholder LitigationCompanies enjoying double-digit revenue and profit increases, a diversified set of customers in growing markets and dividend yields of around 3.5% are always worth a look. One interesting example is Singapore Technologies Engineering (Singapore: S63) , or STE, a company worth S$14 billion (£8.2 billion), with businesses in defence and public security (DPS); commercial aerospace (CA); and urban solutions and satellite communications, or satcom (USS). DPS is the largest division, making up 44% of revenue in the first nine months of 2024, followed by CA with 40% and USS with 16%. Strong revenue growth for Singapore Technologies Engineering Revenue growth rates for the period follow the same order, with DPS up 18%, CA up 16% and USS up only 0.3%. Sales for the whole group gained 14.3% to S$8.3 billion for the nine months. The fourth quarter is the company’s strongest, so 2024 revenue is likely to reach S$11.4 billion. It is not surprising that DPS grew nine-month revenue by 18%. Donald Trump has made it clear that America’s Asian and European allies must contribute more to their own defence and that is driving rearmament programmes in both regions. This is giving DPS more orders across its diversified product range, which includes fighting vehicles, patrol boats, howitzers and ammunition, drones, command and control systems, cybersecurity and naval ship-repair services. CA carries out engine and airframe maintenance, repair and overhaul, and is the world’s top independent operator in this subsector. It is benefiting from the backlog of new aircraft deliveries, which means that older aircraft are being kept in service for longer. However, this has affected the other main CA business, the conversion of older passenger aircraft for carrying freight (P2F). These two divisions compensate each other and, when deliveries of new passenger jets improve, the rise in P2F should make up for any reduction in maintenance work. CA also makes engine nacelles and composite aircraft panels. What makes STE a stellar stock? USS has recently won contracts for passenger information systems, rail digital radio systems, a metro upgrade in Taiwan, electronic toll collection and a smart lighting system for an Asian international airport. The lower growth rate in 2024 was caused by lower satcom sales. ST acquired US firm Transcore in 2022, which added next-generation electronic tolling and transit operations, such as Transcore’s congestion tolling contract for Manhattan. The Manhattan system will demonstrate Transcore’s expertise and be an excellent reference contract for new congestion tolling systems in Asia. Transcore accounts for 35% of USS’s revenue. STE had a healthy order book of S$26.9 billion on 30 September – two-and-a third years of current annual revenue. New orders in the first nine months of 2024 were particularly strong for DPS, which added S$3.6 billion of new orders, the same as its nine-month sales figure. STE has a global presence, with hangars for its MRO and P2F operations in Singapore, China (where it services non-Chinese airlines), the US and Europe. It works for airlines including Delta, Air Canada, AirAsia and DHL. STE is Singapore’s main defence contractor but it also sells equipment to 40 other militaries, including the US. STE’s DPS business enjoys a wide moat – an enduring competitive advantage – based on its government relationships and the switching costs characteristic of command and control systems, surveillance and infrastructure applications. CA and USS have narrower moats based on intangible assets and switching costs. Earnings per share (EPS) are set to achieve a compound annual growth rate of 14.4% between 2023 and 2028. STE’s 2023 results show revenue of S$10.1 billion up 11.8%, Ebitda of S$1.46 billion, Ebit, or operating earnings, of S$915 million (up 24.4%), net profit of S$586.5 million (up 17.9%) and EPS of S$0.19. Cash stood at S$353 million on 31 December. Ebit would have been up 40% had Transcore integration costs, and severance costs incurred by disposing of a non-core business, Satixfy, been excluded. The Transcom business was earnings accretive in 2023 – ahead of plan. The first-half results to 30 June showed higher growth rates, with revenue up 13.5% to S$5.5 billion, net profit up 18.5% to S$416.5 million and cash at S$430 million. New contracts won in the third quarter include AI-enabled command-and-control systems, cybersecurity products and services, two smart metro systems, healthcare tech for Hong Kong and the STE/Airbus joint venture in Germany delivering its 100th P2F Airbus conversion since starting operations in 2017. The Belgian/ Dutch navies have selected STE to make the electronics for their surface, under-water and aerial mine countermeasure drones. STE, on a recent price of S$4.48, is rated a “strong buy” by analysts; investment platform Morningstar estimates a “fair value” of S$5.25, giving headroom of 17% above the current price. The price is also 4% above its 200-day moving average, suggesting a long-term uptrend in the chart. The forward price/earnings (p/e) ratio is 17.4 and the forward dividend yield a welcome 3.53%. Shareholders’ total return over the last three years has been 35%. Since 2017 STE has been selling off noncore activities, focusing on higher value-added activities, such as the acquisition of Transcore, and improving margins via cost containment. With its diversified business, record of profitable growth and yield, the company is certainly well worth a look. This article was first published in MoneyWeek's magazine. Enjoy exclusive early access to news, opinion and analysis from our team of financial experts with a MoneyWeek subscription .