GIVEN the latest monetary policy action of the Monetary Board, international and local analysts expect the Bangko Sentral ng Pilipinas (BSP) terminal rate to be brought down to 5 percent next year.
On Wednesday, the BSP reduced the Target Reverse Repurchase (RRP) Rate by 25 basis points, bringing key policy rates to 6 percent. (See: https://businessmirror.com. ph/2024/10/17/monetary-board-eyeingbaby-steps-in-rate-tweaks-in-2025/).
Analysts expect this to be fol -
lowed by several 25-basis point reductions in the policy rate until mid-2025. Some analysts, though, are seeing that a pause in monetary policy action is also possible in December.
“Given the persistently weak private consumption and improving inflation outlook in the near term, we now think that the BSP will cut its policy rate by 25bp to 5.75 percent at its meeting in December 2024. We are keeping our terminal rate forecast unchanged at 5 percent,” ANZ Research said.
HSBC Asean economost Aris Dacanay shared the same outlook
and noted that a policy rate of 5 percent by the second quarter next year remains higher than pre-pandemic levels.
Dacanay expects the BSP to deal another 25-basis-point rate cut in the Monetary Board's final meeting for the year, in December, to bring the RRP to 5.75 percent by yearend.
He also said HSBC's expectations include another reduction in the Reserve Requirement Ratio (RRR) for banks by next week or October 25, which will bring it down to 7 percent from the current 9.5 percent.
This will contribute to the country's growth prospects as a lower RRR would provide banks with additional fiscal space to extend loans. However, Dacanay said in terms of making investments, timing remains an issue.
“Both the rate cut and the RRR cut should help bolster growth as the rate cut incentivizes borrowing while the RRR cut frees up bank deposits for lending. But timing may be an issue and we think there may be [a] lag to this boost,” Dacanay said.
SUSTAINABILITY RULES TO IMPACT GLOBAL TRADE
By Andrea E. San Juan @andreasanjuan
DEVELOPED countries should consult developing countries such as the Philippines in crafting global sustainability rules to prepare these markets for the impact of stringent regulations that may hamper global trade, according to a United Nations official.
“A lot of European Union regulations are coming out, the [EU] deforestation [regulation] is one example of it. But we also have corporate sustainability due diligence directive that was adopted early this year,” Surya Deva, UN Special Rapporteur on the Right to Development, told reporters on the sidelines of the 16th Investment Policy Forum held in Pasay City on Wednesday.
PERSONAL networks such as families remain the preferred source of credit knowledge among Filipinos, especially those living in rural areas, according to the latest survey of TransUnion.
The latest Credit Perception Index (CPI) study showed family and friends ranked highest among the sources of information on credit products.
This includes majority or 63 percent of Filipinos living in the suburbs and 60 percent of those living in rural areas. They said family and friends were their source of information for credit products.
“Urban residents demonstrate a stronger understanding and thus preference for credit products compared to those in more rural regions, potentially due to differing sources of credit information,” said Weihan Sun, Principal of Research and Consulting for Asia Pacific at TransUnion.
“Given that suburban and rural residents rely more on
“I think some of these regulations have a good intention, but the difficulty I see is in terms of the process—that whether the countries in, let us say, in the global south or in Asia, were they consulted properly before these regulations were pushed forward by the European Union?” Deva pointed out.
their personal networks for credit information, this may limit their exposure to the latest credit trends and professional insights,” he added. Majority or 61 percent of Filipinos living in rural areas are also less trusting of credit-based products. As such, only 58 percent of them are inclined to use credit-based products. In terms of their understanding of credit, majority or 63 percent of Filipinos in rural areas know that credit is the ability to acquire goods or services with payment to be made later. In terms of specific creditbased products such as credit cards, loans, and installment payments, only 51 percent of Filipinos living in rural areas are aware of these products.
TransUnion said these results bear the gains of financial inclusion initiatives through the years but also highlight the need to further financial inclusion efforts, especially in rural areas.
COUNTRIES within Asia, Latin America, among others, should strengthen their investment policies as ongoing geopolitical risks are resulting in a “fierce” competition in the area of trade and access to natural resources such as nickel and lithium deposits, which play a crucial role in energy transition, according to a global think tank.
“There is a fierce competition in the area of trade and access to natural resources, including to the minerals needed for the energy transition. This coupled with persistent crises, financial instability, climate emergencies, wars, all of this is impacting trade and invest -
ment flows,” International Institute for Sustainable Development (IISD) Vice President Nathalie Bernasconi-Osterwalder said during the 16th Investment Policy Forum on Wednesday.
Osterwalder added that these global developments should prompt countries to revisit their investment policy framework as countries such as China, India and Western economies are competing to ensure they have access to critical minerals which are present in Asia, Latin America and Africa, which are deeemed as having the “biggest copper nickel and lithium deposits.”
BOC holds tanker, 4 trucks with ₧90-M smuggled fuel
By Reine Juvierre Alberto @reine_alberto
THEBureau of Customs (BOC) intercepted a fuel tanker and four trucks containing smuggled fuel estimated worth over P100 million at the Port of Batangas on Wednesday, October 16.
Based on BOC’s estimates, the fuel tanker—pegged to cost P300 million—carried 1.8 million liters of smuggled fuel valued at P50 per liter amounting to P90 million. The three lorries were estimated at a total of P12 million, costing P3 million each.
MTKR Cassandra was caught transferring petroleum products into four lorry tankers during a joint operation by the BOC-Customs Intelligence and Investigation Service (CIIS) and Enforcement and Security Service (ESS). According to the BOC, the subject fuel failed the subsequent SGS fuel marking test, resulting in no
Personal...
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It stressed the need for a holistic and comprehensive approach from both the public and private sector to improve Filipinos access to financing
nationwide.
“Financial inclusion for Filipinos regardless of their community is important to us at TransUnion. To grow economic opportunities for Filipinos outside urban areas, we are committed to a proactive engagement strategy to support rural banks across the
proper markings.
This means that duties and taxes were not paid, prompting the BOC-Port of Batangas to issue a Warrant of Seizure and Detention against the subject fuel, vessel and lorries.
The BOC said the owners, ship captain and crew of the seized vessels, fuel and lorries will face possible charges for violating Sections 117 (Regulated Importation and Exportation) and 1113 (Property Subject to Seizure and Forfeiture) in relation to Section 1401 (Unlawful Importation or Exportation) of Republic Act 10863, or the Customs Modernization and Tariff Act (CMTA). Section 80 (Offenses Relating to Fuel Marking) of RA 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, was also violated.
BOC-CIIS Director Verne Enciso said the ship's captain failed to provide the documents to prove the legality of the berthing and discharge, leading to
country,” added Sun. Meanwhile, the Bangko Sentral ng Pilipinas (BSP) recently conducted an “Economic and Financial Learning Program (EFLP) Session for the Workforce” in Iloilo City on September 18 and 19, 2024. There were over 200 in-person attendees from the public and private sectors, micro,
the seizure of the ship and lorries.
Customs Commissioner Bienvenido Y. Rubio said the operation was conducted after the BOC received information about rampant fuel pilferage in the ports.
“Our operation against these individuals and groups is not a one-time thing. We have been monitoring them for months and finally, they are now on our hands. It’s the relentless efforts and the commitment of our officers to their mandate that led to the seizure of this tanker and the lorries,” Rubio added. The ship and lorries are now docked at the breakwater in the vicinity of Batangas port and guarded by BOC personnel.
small, and medium enterprises, and agri-enterprises and over 2,700 virtual participants.
The two-day EFLP session helped participants learn about the economy, personal finance, investing, and financial consumer protection; and taught them how to make smart financial choices and to contribute to a stronger Philippines.
"Financial learning will be helpful in making better financial decisions, like buying a home, starting a business, saving for education, preparing for retirement, or building financial resilience," BSP Deputy Governor Bernadette Romulo Puyat said in a statement.
The initiative also aimed to address the low rate of investment ownership among Filipinos, particularly working adults. According to the 2021 BSP Financial Inclusion Survey, only 36 percent of Filipino adults own investment products.
The session discussed personal finance fundamentals and practical strategies for budgeting, saving, and managing debt.
It also tackled the Financial Products and Services Consumer Protection Act, the importance of understanding consumer rights and responsibilities, and BSP’s role in protecting financial consumers.
The EFLP session explained BSP’s core functions and its role in keeping prices steady, making the financial system stronger, and making payments safer and easier. Cai U. Ordinario
“Potential borrowers know that there is more to the BSP's easing cycle. They may opt to hold their investments until the easing cycle comes to an end in 2025. Hence, we continue to expect growth in 2024 to come in below 6 percent but improve to 6.4 percent in 2025,” he added.
Meanwhile, Citi Economist for the Philippines and Thailand, Nalin Chutchotitham, shared the same sentiments and said the BSP could reduce rates by 25bp cuts in February, May, and August 2025. This will lead to a terminal rate of 5 percent next year.
For 2026, Chutchotitham said BSP could also deal a 50-basis-point reduction in the policy rate leading to a terminal rate of 4.5 percent.
“This would bring the policy rate slightly closer [but still a tad higher] to the pre-Covid average long-term policy rate. With the economy in a more ‘Goldilocks’ scenario, the BSP has options to remain flexible in its easing decisions, which may also include consideration of future Fed decisions and impact on the foreign exchange market,” Chutchotitham said.
Caution
BPI Senior Vice President and Lead Economist Emilio S. Neri Jr. said in a statement that while another rate cut in December is considered a "base case" given the recent inflation print, this may not be guaranteed.
“The BSP has the room to cut its rates given the favorable inflation outlook, but being aggressive might not be prudent,” Neri said. “There is a small probability of a pause especially
if developments abroad continue to exert pressure on the Peso.” Neri stressed said the peso is less resilient to external risks and develpments given the country's strong external position. As such, currency developments could spill over to domestic inflation.
It may also be noted that the Philippines is a net food and oil importer.
Food has a weight of 34.78 percent in the Consumer Price Index while Electricity, Gas and Other Fuels has a weight of 6.74 percent; and the Operation of Personal Transport Equipment, 2.8 percent.
“The outlook for inflation can change quickly given the current global environment and the domestic supply shocks that can easily materialize. A cautious approach to rate cuts might be needed in order to offset these risks and ensure stability in the markets,” Neri said.
Earlier, Jonathan Ravelas, senior adviser at professional services firm Reyes Tacandong & Co. said aggressive monetary policy easing could be inflationary by itself.
Ravelas also said if the BSP will maintain or keep its promise of cutting rates by 25 basis points more this year, that should still make the country’s inflation target attainable. For next year, the BSP would be prudent and limit it to a 25-basispoint reduction in rates per quarter. This will mean the total reduction in rates next year would be 100 basis points.
Nonetheless, Ravelas expects the Monetary Board to maintain policy rates this month and deal another 250-basis-point reduction in the RRR. (See: https://businessmirror.com. ph/2024/10/13/geopolitics-trump-win-notsuited-to-sharp-rate-cuts/).
In the case of the Philippines, Deva said, “the Philippines definitely has the technical expertise, the people, human capital, is definitely very well advanced in terms of that. But then, [the] Philippines is part of a global ecosystem, right? So, we have to ensure that the global rules are also there to ensure that the government of Philippines is able to promote that kind of a sustainability.”
Otherwise, the UN official emphasized that in adhering to the same set of rules in terms of sustainability, “markets may not be ready to bear that kind of a model of sustainable development.” Moving forward, the UN official said in crafting more global rules, “Those rules must be developed in a more participative fashion, rather than being imposed by European Union or any particular developed economy.”
Nonetheless, Deva said he believes the Philippine government can adapt to these regulations. However, he noted that the country “can be proactive in terms of preparing, being ready in terms of the economy and how these regulations are going to impact the local businesses, and others.”
The UN official also noted that the Philippine government can work with govern -
ments within Asia so that they can “leverage better in terms of negotiation.”
According to an international study cited recently by the Philippine Exporters Confederation, Inc. (Philexport), the Philippines was included in the 12 countries that have “low” overall readiness to meet upcoming EU sustainability demands, with small and medium-sized enterprises (SMEs) particularly vulnerable to the new requirements as their capability to understand, prioritize, and address sustainability demands appears “limited.”
“In light of this, the study underscores the need for support measures to prepare companies for increased demands, enabling local firms to better benefit from upcoming opportunities and ensuring that EU companies meet their supply chain impact targets,” said the paper entitled “ESG in Emerging Markets: The effects of EU sustainability regulations on non-EU companies.”
Further, in the case of the Philippines, it was found that in awareness and priority, “companies in the Philippines have amongst the lowest awareness of EU’s ESG legislation, with 72 percent of the companies stating that they are unfamiliar with all the listed EU legislation.”
These natural resources, she said, are seen to portray critical roles in embracing sustainability and combatting climate change.
“And they are central for the energy transition. They play a crucial role in our fight against climate change,” the IISD official said, pointing out that, “These dynamics, pressures, require strong investment frameworks that integrate economic, social and environmental priorities.”
For his part, Board of Investments (BOI) Managing Head Ceferino S. Rodolfo shared a similar sentiment, pointing out that almost every country now places sustainability as a priority in all dimensions including environment, labor,peace,among others. As countries are now embracing sustainability, the BOI official said, adding that there is also an emergence of “strategic sectors” which would require attracting investments from different countries to have the
necessary technology.
“In these sectors the role of technology [is very critical]; the intersection of technology, access to market of natural resources or endowments and a lot of times, those three elements cannot be found in a single country, [that’s why you need] foreign investments,” added Rodolfo, partly in Filipino. The BOI official said this is the reason behind the “proliferation” of different tools to try to attract these investments, including “non-market based tools” such as import and export bans, local content requirements, investment barriers, among others.
If a country introduces these non-market based tools, Rodolfo explained that “you would naturally attract investors from countries or investors that are more familiar and comfortable already.”
In the case of the Philippines, Rodolfo shared how the BOI strategizes in terms of luring more investments into the country.
“We follow 5Ps for investment attraction. Number one, you must have the right policy. And then number two, the programs and projects are very important; and then number three, the partnerships; and then people and institutional development; then number five is promotions,” added Rodolfo. In the case of the renewable energy projects which occupied a huge chunk of the investment approvals of the BOI this year, he explained that the “most critical piece of the puzzle” that led to this was the removal of the foreign equity restriction on RE projects.
“That’s the most important. So you started with the policy, second babanat ka ngayon ng programs and projects. Halimbawa port development for offshore wind kasi kailangan mo ‘yun,” he said. In addition, he noted, “Green jobs: the training of our seafarers who before were into offshore drilling, to now be certified for putting up the windmills.” Investment approvals under the BOI from January to mid-September this year reached P1.35
NFA secures ₧9-B balance for palay procurement
By Ada Pelonia @adapelonia
Trelease the budget in equal installments over the last quarter of the year. Laurel said the funding could help the government support rice farmers during the wet season when palay prices tend to drop due to increased harvests and limited drying facilities.
“The NFA will have enough funds to support rice farmers through the wet season, which is critical for their livelihoods during this challenging period,” Laurel said in a statement.
NFA Administrator Larry Lacson said the timely release of the palay procurement budget would enable the agency to purchase around 7.2 million 50-kilo bags of palay at a price of P25 per kilo.
“This volume aligns well with the NFA’s wet season palay procurement target of 6.4 million to 8.7 million bags,” Lacson said.
The NFA recently adjusted its buying price range for palay, lowering from the previous P25 to P27 per kilo. It noted that this change reflected the declining global prices of rice and aimed to reduce the cost of the food staple for Filipino consumers.
Marcos reiterates call for unity
By Samuel P. Medenilla @sam_medenilla
AFTER meeting with his rival in the 2022 presidential race, former Vice President Maria Leonor G. Robredo in Sorsogon, President Ferdinand Marcos said the goal of uplifting living standards should unite every Filipino.
“We may have differences in beliefs and opinions, but I know all of us are united in one goal—uplifting the level of living of each Filipino,” the chief executive said in Filipino in his speech during the inauguration of the Sorsogon Sports Arena (SSA) in
Sorsogon last Thursday.
Speaking before the audience at the event, he reiterated his call for unity, which became his slogan during the previous presidential election, since he noted it translates to effective governance.
“We must cooperate so more children will be vaccinated, we can further improve security and peace as well as bring down poverty in Sorsogon, Marcos said.
“Our unity will also give way so we can complete projects in your area like the Sorsogon Provincial Sanitarium Facilities and the improving the road to Bacon Airport,” he added.
CULTIVATING SEEDS TOGETHER
“We recognize the need to balance farmer support with consumer needs, and this adjustment is a step toward achieving that goal,” the DA chief said.
Despite this, Laurel assured that farmers would still see a favorable return on their efforts.
“Even at this adjusted price, farmers will continue to benefit from their hard work, especially given the improved price range we implemented earlier this year,” he said.
In June, the NFA Council raised the buying price of palay to a range of P17 to P30 per kilo, up from last year’s P16 to P23 per kilo.
“This price adjustment was essential for helping the NFA compete with private traders and bolstering the country’s rice buffer stock.”
Symbolic meeting
PRESIDENTIAL Communications Office
Secretary Cesar B. Chavez said Robredo met with the President at the SSA.
“She welcomed the president at the entrance of the sports arena. The former vice president was with former Sen. Bam Aquino,” Chavez said.
Robredo is running for mayor of Naga City, while Aquino is seeking to be reelected in the senate in the 2025 elections.
Senate President Francis “Chiz” G. Escudero, who accompanied Marcos in the SSA, said Robredo was in Sorsogon to attend the Kasanggayahan Festival and conduct benchmarking initiatives within the province.
Aside from Robredo, Chavez said other
Meanwhile, the grains agency recently raised its selling price of rice to P38 a kilo from P25 per kilo to the Department of Social Welfare and Development (DSWD) and other government agencies.
Lacson noted that the NFA’s decision to increase the selling price to the DSWD and other government agencies, along with the projected savings from the purchase of palay contained in farmers’ sacks, could lead to additional funds for palay procurement.
“These measures could save hundreds of millions of pesos, enabling us to purchase more grains from rice farmers,” the NFA chief said.
The grains agency noted that the availability of the P9 billion budget would play a pivotal role in achieving its objectives during a critical time for rice production.
high profile guests who were invited in the SSA inauguration were former Senate President Vicente C. Sotto III and incumbent Sen. Manuel M. Lapid—both will join in the 2025 senate rate as part of the Marcos administration-backed Alyansa Para sa Bagong Pilipinas (APBP) coalition.
Escudero said Robredo decided to leave after the meeting since she did not want to become the focus of the event and also due to her prior commitment in Naga.
“They just greeted one another. I think this is a step towards healing any wound or disagreement [between the two officials],” he said.
DTI destroys substandard goods in Davao Oriental
By Manuel T. Cayon @awimailbox
DAVAO CITY—Some P300,000 worth of substandard goods from around Davao Oriental have been destroyed or disposed to clear markets from nonconforming goods, the Department of Trade and Industry said.
The Davao Oriental office of the DTI said it disposed of the substandard products from Mati City, Lupon, and Cateel,. Maria Joycelyn Banlasad, provincial director of DTI Davao Oriental said the destroyed items include steel wire products, rice cookers, electric fans, electric tapes, and monobloc chairs.
Banlasan said that the products were destroyed due to lack of mandatory product certification markings as required by the Consumer Act of the Philippines or Republic Act 7394.
“These were confiscated in the previous years, and were only disposed of this year since it underwent a certain government process for disposal,” she said.
The disposal happened on June 14 for Mati City products, August 18 for Lupon, and August 29 for Cateel.
“The enforcement activities of DTI aim to protect the consumers from unsafe products and to prevent proliferation of selling of substandard products,” Director Banlasan said.
Aside from the confiscated items, the DTI also collected P280,000 penalties from the establishments.
SN Aboitiz Power and Hedcor building strong and lasting relationships with IPs
THE priceless Rice Terraces of the Philippine Cordilleras is a mark of the proud Ifugao people, bearing witness to 2,000 years of sustainable farming, culture, and people development.
Passed on from generation to generation, farmers still rely on the intricate irrigation network to this day, nurturing tradition, the ecosystem, as well as the community’s livelihood.
Assessing the need to help the indigenous community preserve the rice terraces, SN Aboitiz Power (SNAP) came up with a watershed management program called “Partnership in Uplifting Upland Natural Resources, Livelihood, and Assets - Upper Magat Watershed Management Program” or PUNLA-Upper Magat in 2019 to help protect and restore critical watershed areas in Ifugao and boost agricultural productivity.
SNAP is a joint venture between Scatec of Norway and Aboitiz Power Corporation (AboitizPower) for the operation of large hydropower facilities in Luzon, including the 388 megawatt Magat Hydro in Ifugao.
Covering the Upper Magat Watershed and supporting integrated projects in adjacent municipalities, PUNLA has helped restore stonewalls, establish agroforestry and demonstration farms, provide agricultural and food processing equipment, build forest nurseries and green-
houses, and plant native tree species.
Under the banner of PUNLA, productivity has been reinstated in close to 28 hectares of rice terraces in Mayoyao and approximately six hectares of previously abandoned rice terraces have been rehabilitated. Moreover, over 48 hectares of forest was rehabilitated in Banaue, while a 52-hectare site in Hungduan was reforested.
Through the help of PUNLA in the Cordilleras, the Ifugao Rice Terraces — with its traditions, ecosystems, and livelihoods — can be passed on to the next generation.
“Maganda ‘yung project dahil nakakapagtanim kami para rin sa kinabukasan; may aantayin ‘yung mga bata o ‘yung pamilya namin (This project is remarkable because it enables us to plant not only for the present but also for the future; something that our children and families can look forward to),” said IP farmer Juliano Diclihon.
Community shares
Much like PUNLA — which is a Filipino word for “the cultivation of seeds” — AboitizPow-
er hopes that IPs and other host communities will cultivate the seeds it has sown in local development initiatives.
SNAP has remitted over P167-million in community shares since 2018 to the host communities of SNAP-Magat and SNAPBenguet in compliance with the Philippine government’s Energy Regulations No. 1-94 (ER 1-94) policy.
ER 1-94 is meant to ensure that host communities get a reasonable share of the profit from power plants operating in their area. It states that these communities will receive one centavo for every kilowatt-hour (P0.01/kWh) of electricity generated. The funds generated by SNAP were used
by beneficiaries for the electrification of areas and households; reforestation, watershed management, health, and environment enhancement; and development and livelihood.
Likewise, Hedcor, an AboitizPower renewable energy asset manager, has rightfully allocated royalty shares to fund developmental projects that further the growth and sustainability of ancestral domains within the communities where it operates.
Hedcor has over 45 years of experience in operating renewable energy assets, mostly run-of-river hydropower systems, with facilities in Ilocos Sur, Mountain Province, Benguet, Davao, and Bukidnon.
Since 2015, various IP communities in
Benguet and Mountain Province have utilized over P30 million in royalty shares and other financial benefits to build infrastructure, support local livelihoods, and protect their ancestral domains and native forests. Projects that have significantly benefited them are the fencing of the watershed perimeter in Sabangan and the planting of indigenous tree species to improve water retention and contribute to watershed sustainability.
Similarly, in Sta. Cruz, Davao del Sur, IP communities have received over P45 million in royalty shares since 2010 which support education, healthcare, skills training, cultural preservation, and infrastructure, including the concreting of critical slopes and the de -
Banlasan encouraged business owners to sell only those products that comply with government laws, rules and regulations.
“We urge business establishments to diligently verify whether the products they sell hold the mandatory certifications as stipulated by the regulations,” she said.
Meanwhile, the DTI extended funding to the Ngilngig Asian Fantastic Film Festival, a Davao City-based annual event celebrating Asian supernatural cinema. The DTI fund was under the agency’s Malikhaing Pinoy program. Ngilngig, which translates to “fantastic” or “horrifying” in the Bisayan language, showcases films from across Asia and the Philippines that explore themes of horror, fantasy, myths, and folktales. After a year-long hiatus, the festival returns this year with a diverse lineup of 23 films from Asian countries and 34 films from the Philippines, the organizer said.
“Ngilngig is a celebration of Asian stories found in our rich oral and written traditions, urban legends, myths, folktales, and superstitions,” Ngilngig festival director Bagane Fiola explained. This year marks the first time the festival will be working with the DTI. Previously, the Film Development Council of the Philippines (FDCP) provided support. The DTI’s Malikhaing Pinoy (Creative Philippines) program, part of the Philippine Creative Industries Development Act (PCIDA), aims to nurture and promote creative industries, including filmmaking. The DTI Davao region chief trade and industry development specialist Arriel
velopment of water systems for the BagoboTagabawa tribes.
“The financial support from Hedcor is more than just a contribution; it’s an investment in our future,” said Matanam Gideon Tolentino, an IP leader. “These funds will enable us to create sustainable programs that elevate our quality of life while preserving our cultural heritage. This partnership is essential to our community’s growth and longterm sustainability.”
IP youth and their future
But beyond rightfully allocating community and royalty shares from the operation of its power plants in the area, AboitizPower is uplifting its social responsibility to IPs through its corporate social responsibility programs.
Akin to this IP month’s theme of “Valuing, Nurturing, and Honoring Indigenous Peoples and Indigenous Knowledge”, SNAP and Hedcor are also supporting the future of the IPs through the education of their youth.
SNAP’s BRIGHTS education program — an abbreviation for “Bridging Gaps in Higher Education through Tertiary Scholarships” — gives deserving students from its host communities, including IPs, opportunities to become well-rounded individuals through scholarships, financial aid, seminars, and volunteer outreach programs.
For the school year 2024, BRIGHTS saw eleven beneficiaries who graduated, six of whom are Latin honors and two are honorable mentions. Since its inception in 2018, a total of 115 college scholars have received educational assistance through the program. Three former BRIGHTS scholars are currently employed in SNAP.
“BRIGHTS gave me a solid foundation. Salamat ja pasiya (thank you so much),” said beneficiary Jasmin Montes, an Ibaloi who also recently joined SNAP-Benguet as a Corporate Social Responsibility Assistant. “I started building my future with SNAP, and to this day I continue to build it with them. Now I’m also helping them build their future, and, in turn, the future of the communities they serve.”
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Friday, October 18, 2024
Quiboloy lawyers, 9 others face sedition raps
TCourt junks Quiboloy’s plea for house arrest
TBy Joel R. San Juan @jrsanjuan1573
HE National Police’s Criminal Investiga -
tion and Detection Group on Thursday filed sedition and inciting to sedition charges against lawyer Israelito Torreon, the legal counsel of Kingdom of Jesus Christ (KOJC) and 11 others for allegedly instigating the members of the religious group to block the serving of arrest warrants against their leader Pastor Apollo Quiboloy last August.
Aside from Torreon, also named in the complaint filed before the Department of Justice (DOJ) were KOJC leaders led by Executive Secretary Eleanor Cardona, lawyers Marie Dinah Tolentino and Kathleen Kaye Laurente, Carlo Catil, Trinidad Arafol , Joey Espina Sun, Esteban Lava, Jose Lim III, vlogger Lord Byron Cristobal, commonly known as “Banat Bay” and KOJC-run Sonshine Media Network International (SMNI) anchors Lorraine Badoy-Partosa and Jeffrey Celis.
The CIDG acting director, Brig. Gen. Nicolas Torre III, who personally led the filing of the complaint, said the respondents were among those who incited the KOJC members to prevent authorities from serving the warrant of arrest against Quiboloy and several others for charges of qualified human trafficking, child abuse and sexual abuse.
Quiboloy along with Jackielyn Roy, Ingrid Canada, Cresente Canada, Sylvia Cemanes surrendered to authorities after a two-week standoff at the KOJC compound in Davao City.
Quiboloy is currently detained at the National Police Custodial Center while his four co-accused were committed to the Pasig City Jail.
“We initially alleged in our complaint their illegal acts like calling on the people to rise against the government, to prevent the police from serving the warrant of arrest, and many more,” Torre said. The inciting to sedition and sedition
charges were filed on top of the other cases such as direct assault, physical injuries, resistance and disobedience, possession of bladed weapon, violation of Public Assembly Act of 1985 filed against other members of KOJC at the height of the standoff.
Article 139 (Sedition) of the Revised Penal Code states: “The crime of sedition is committed by persons who rise publicly and tumultuously in order...(1) to prevent the promulgation or execution of any law or the holding of any popular election; 2. to prevent the National Government, or any provincial or municipal government or any public officer thereof from freely exercising its or his functions, or prevent the execution of any administrative order; 3. to inflict any act of hate or revenge upon the person or property of any public officer or employee; 4. to commit, for any political or social end, any act of hate or revenge against private persons or any social class; and 5. to despoil, for any political or social end, any person, municipality or province, or the
National Government, of all its property or any part thereof.”
Under the law, the leader of a sedition may suffer the penalty of prision mayor in its minimum or six to eight years while those who participated in the illegal acts are facing four to six years in prison.
Article 142, on the other hand, imposes a penalty of prision correccional in its maximum period or four to six years in prison for inciting to sedition.
Celis, in a statement, branded the complaint filed by the CIDG as “baseless and ridiculous.”
He added that the complaint is an attack to the constitutionally-guaranteed right of the people to free speech.
“The misuse and apparent abuse of legal frameworks being utilized by Gen. Torre could set a dangerous precedent for future legitimate dissent against authoritarianism, tyranny and oppression that the government can commit against fundamental rights and welfare of the people,” he said.
Senate Committee of the Whole should handle drug war inquiry–Hontiveros
SBy Butch Fernandez @butchfBM
EN. Anna Theresia Hontiveros proposed on Thursday the convening, a Senate Committee of the Whole to tackle the senators’ own inquiry into the Duterte-era war on drugs, instead of just the Senate Committee on Public Order and Illegal Drugs, whose chairman wants to conduct the investigation.
A Committee of the Whole, usually chaired by the Senate President, would be in a better position to lead the chamber in this inquiry, for which the House has been conducting its own investigation the past few weeks, through its so-called Quad Committee.
There had been adverse reaction to the announcement by Sen. Ronald dela Rosa,
Marcos. . .
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Nevertheless, he said their meeting in the SSA was “symbolic” on what candidates in the 2025 elections should aspire, when interacting with those running against them. He said it was the first time he, Marcos and Robredo all met at the same time years after they ran in opposing political parties in previous polls.
“As they say, in the race in politics, we should always remember to become a sportsman following the rules and regulations, and openly accepting those who will
chair of the Public Order panel, that his commottee will hold its own investigation and invite former President Rodrigo Duterte. Dela Rosa and another Duterte subordinate, Sen. Christopher Go, had been linked to the former President’s campaign and it does not look good for dela Rosa to be leading an inquiry where he is also involved, critics said.
In a radio interview on Thursday, Hontiveros said, when asked for a reaction to dela Rosa’s statement that his panel will hold its own inquiry parallel to the House: “In the first place, it’s very important that we know the truth about the war on drugs. Especially for the families and victims of EJK. So, I will suggest to the Senate leadership to form a Senate Committee of the Whole where the entire chamber will investigate the war on drugs of the
win,” Escudero said.
Training venue
THE President visited Sorsogon for the inauguration of the SSA, which is among the highlights of the celebration of the 130th founding anniversary of the province this month.
With its 12,000 seating capacity, the SSA is currently one of the biggest event venues in the Bicol Region. Marcos lauded the completion of the new infrastructure, which he said can be used as a venue for a National Training Camp for Filipino athletes so they can better compete in international sporting events
past administration.”
She explained that a Senate Committee of the Whole will give all concerned a sense of confidence to testify, especially for the “victim-survivors of the war on drugs.”
“We should also hear them out so we can know the whole truth,.” She added.
Asked if she thought ex-President Duterte will attend a Senate hearing as a resource person, Hontiveros said that if the idea of inviting him were raised, “then it’s the chairman of the Senate Committee of the Whole, who is usually the leader leader of the chamber or the Senate President, who will decide and issue the invitation to the concerned resource person.”
As to reactions on dela Rosa’s plan to lead the Senate inquiry through his committee, Hontiveros said that “Well, all of us chair our own committees. But in a Senate
like the Olympics.
“This is an important step so we can establish our countrymen with talents in sports. With this [facility], we will give them the opportunity to hone their talent,” he said.
“Like the Olympians, who participated in the 2024 Paris Olympics, we strive, with the help of this arena, to increase the number of [athletes] who can give glory to the country,” he added.
Marcos was joined in the event by other APBP senatorial candidates including incumbent Sen. Francis N. Tolentino and Las Piñas representative Camille VillarGenuino.
Committee of the Whole, all the members have the right to investigate that topic. And instead of just one senator chairing, the Committee of the whole under the Senate President will lead it.”
Meanwhile, Hontiveros said there are indications, as seen in the House QuadCom hearings on extrajudicial killings, that there is a “Davao model” and “reward system” for cops killing drug suspects. She pointed to retired police colonel Royina Garma’s testimony that there is a “Davao model.”
The senator could not help but note that, “I even saw someone post online that it should not be called Davao model, but Duterte model. I mean in fairness to the place, it’s not the entire Davao City or Davao Region that’s implicated in the EJK, but in Garma’s testimony it’s the former president.
DTI. . .
Continued from A3
Nengasca, said that DTI is supporting the Ngilngig film festival organizers known as Pasalidahay in the capital development training and their film screenings.
“We believe in the creativity of Dabawenyos and the potential of our students to be the next Erik Matti or Yam Laranas,” Nengasca said, citing that Davao is home to a vibrant filmmaking movement.
The Ngilngig Asian Fantastic Film Festival 2024 will be held from October 26 to October 30 in different venues in Davao City.
HE camp of embattled Kingdom of Jesus Christ (KOJC) founder Apollo Quiboloy on Thursday confirmed that the Regional Trial Court in Pasig City has denied his plea to be placed on hospital arrest.
Quiboloy’s lawyer Israelito Torreon said they are likely to file a motion for reconsideration before the Pasig RTC Branch 159 which denied the religious leader’s plea.
Quiboloy claimed that he has existing medical conditions that would warrant his stay in hospital for monitoring pending his trial for qualified human trafficking.
Sought for his comment, Justice Secretary Jesus Crispin Remulla said it would be up to the court to decide on Quiboloy’s plea for hospital arrest.
“It up to the judge. It depends on the court on how they view the arguments before the sale. We just have to believe in what the court believes is proper in this case,” Remulla said.
Pasig City RTC Branch 159 acting Judge
Rainelda Estacio-Montesa earlier directed the National Police to conduct medical assessment on Quiboloy and co-accused Ingrid Canada, who also sought a hospital detention.
With the denial of his plea for hospital arrest, Quiboloy will remain in detention at the National Police Custodial Center for security reasons while his co-accused have been ordered transferred to the Pasig City Jail.
Quiboloy, Canada and three other KOJC associates identified as Cresente Canada, Jackielyn Roy, and Cemanes are all facing qualified human trafficking before the Pasig RTC.
Charges of child abuse and sexual abuse were also filed against them before the Quezon City RTC.
The complainant was a former member of the Davao-based KOJC who claimed that she was sexually abused in 2014. In 2020, the victim filed a petition for review before the office of the Justice Secretary, seeking a reversal of the decision of the Davao city prosecutors office which dismissed her complaint.
Four years later, the DOJ reversed the resolution of the Davao City Prosecutors Office and ordered the filing of criminal charges against Quiboloy and his coaccused. Joel R. San Juan
‘CIDG will not hesitate to file charges vs Duterte’
By Joel R. San Juan
THE National Police’s Criminal Investigation and Detection Group on Thursday said it would not hesitate to file criminal charges against former President Rodrigo Duterte and several others whose name were implicated in extrajudicial killings (EJKs) during the war on drugs of the previous administration.
However, the group’s acting director, Brig. Gen. Nicolas Torre III stressed that this would depend on the evidence that could be gathered once the reinvestigation on EJKs is conducted.
The reopening of some EJK cases, such as the case of former Philippine Charity Sweepstakes Office (PCSO) board secretary Wesley Barayuga, is being pursued in light of the testimonies of Police Lt. Col. Santie Mendoza of the National Police Drug Enforcement Group and police informant Nelson Mariano before the House Quad Committee (QuadCom).
The two accused then PCSO General Manager Garma and then National Police Commission (Napolcom) commissioner Edilberto Leonardo of ordering the kill job on Barayuga over the latter’s alleged links to illegal drug trade but later turned out to be a disagreement over PCSO game Perya ng Bayan.
“Let’s see what they have to say, where our investigation into the cold cases would lead us. If we find some link on any person, including the former president, then so be it. We will include them in the charges if the evidence warrants,” Torre said in an interview at the Department of Justice (DOJ).
Torre said murder charges may be filed against those who will be found involved in the EJKs.
“We will unearth the records first, we will take them out of the archives and we will examine if there are additional evidence needed to pursue the case and the suspects,” he added.
Torre said a case conference will be conducted to determine if the National
Police would adopt the statements made by Mendoza before the House Quadcom or require another affidavit.
Likewise, the National Police would also re-examine the testimonies given by Garma under oath before the House Quadom on EJKs during the war on drugs.
Garma testified before the House Quadcom that Duterte asked her to look for an officer to implement the Davao model of the drug war on a national scale. Garma said the Davao model referred to a “system involving payments and rewards.”
More than 6,000 individuals with alleged links to illegal drug trade were killed during the war on drugs.
Meanwhile, Solicitor General Menardo Guevarra said there were “loose talks” in the media regarding quotas and rewards, during the war on drugs but this was never confirmed during his stint as justice secretary.
“When the DOJ and NBI began investigating the so-called ‘nanlaban’ cases endorsed by the National Police, there was no mention of any reward or bounty related to the war on drugs,” he said.
However, Guevarra acknowledged that it is now easier to build cases of EJKs compared during his term as more witnesses are willing to come forward with their testimonies.
“It’s much easier to build cases now relating to the war on drugs because witnesses are coming out and testifying before congressional investigations,” Guevarra said.
“An inquiry into the extra-judicial killings must be impartial, transparent, and independent. Sen. Dela Rosa will have none of that since he is part of the personalities being investigated. He cannot claim to offer any of these guarantees,” Laguna Rep. Dan Fernandez said.
The lawmaker called on the Senate to assign a more independent senator to lead the inquiry, someone who has not been directly involved in the execution of the policies being scrutinized.
With Jovee Marie N. dela Cruz
Tondo gets new university
BY 2026, the youth of Tondo will have easier access to higher education with the opening of the new P400 million Universidad de Manila (UdM) campus in Vitas, Tondo, the chairman of the House of Representatives’s Committee on Metro Manila Development announced on Thursday. Rep. Rolando Valeriano, committee chairman, said the construction of the 10-storey college building is expected to be completed by 2026. The university will provide new educational opportunities to residents.
The groundbreaking ceremony for the 1,500-square-meter campus took place on Thursday at the former Vitas Skate Park. The event was attended by Manila Mayor Honey Lacuna and Vice Mayor Yul Servo.
According to Valeriano, the new UdM building will havee 48 classrooms, 15 multi-function rooms, and a multipurpose gymnasium, all funded by P400 million from Congress. During the ceremony, Valeriano thanked
the local government of Manila for allocating the land for the project, which Valeriano described as a lasting legacy for the youth of Tondo.
“I am grateful to Mayor Honey Lacuna and Vice Mayor Yul Servo for designating this lot for the Tondo campus of the Universidad de Manila, as education is their legacy to the youth of Tondo. There would be no project without the land for the UdM college building,” Valeriano said. He also acknowledged the contributions of Congress for securing the P400 million budget for the campus.
Valeriano expressed confidence that the UdM college building will continue to grow, with the potential for more facilities and services to be added in the future. The new Vitas campus of Universidad de Manila will provide a much-needed resource for the youth of Tondo, opening doors to higher education and supporting the city’s development. Jovee Marie N. dela Cruz
New batch of OFWs from Lebanon home soon–DMW
By Samuel P. Medenilla
A@sam_medenilla
NOTHER batch of 45 overseas Filipinos workers (OFW) availed themselves of voluntary government repatriation from Lebanon and are set to arrive home this week, according to the Department of Migrant Workers (DMW).
“The OFWs are scheduled to arrive in the Philippines tomorrow, October 17, 2024, via Kuwait Airways 417,” DMW said in a social media post last Thursday.
Labor Attaché Alejandro Padaen of Migrant Workers Office (MWO) in Lebanon sent off the OFWs together with two children last Wednesday.
The OFWs stayed at the temporary shelter in Lebanon and were provided food, financial assistance, and legal services by the MWO. Prior to their departure, they were also briefed about the additional aid they will receive once they arrive home.
The latest batch of repatriates comes after the Lebanese immigration issued the necessary
clearances for 100 OFWs last Tuesday, according to DMW Secretary Hans J. Cacdac.
He said the affected OFWs will get P150,000 in financial assistance from DMW and the Overseas Workers Welfare Administration (OWWA) and another P20,000 from the Department of Social Welfare and Development (DSWD).
They will also get free medical services and treatment from the Department of Health (DOH) and psychosocial counselling from National Center for Mental Health.
Local employment, skills training, and livelihood options will also be extended to the repatriates, according to Cacdac.
As of last Wednesday, the DMW chief said 448 OFWs have already repatriated 448 OFWs from Lebanon since last year after Israel launched attacks against Hezbollah forces within the Middle East country.
He said another 510 of the estimated 11,000 Filipinos in Lebanon have also expressed interest to return home amid the escalating clash between Israeli and Hezbollah forces.
‘Mass migration’ of voters to be probed by Comelec
By Justine Xyrah Garcia
THE Commission on Elections said on Thursday it will investigate the “disturbing” number of voters transferring their records to certain cities and municipalities.
In a press briefing, Comelec Chairman George Garcia revealed that the poll body observed an up to 40-percent increase in voter registration in certain areas.
“Alam niyo okay lang naman na lumipat ang mga tao…kaya lang nakakapagtaka na may 40-percent increase. Napaka unusual po talaga nyan…The Comelec would
like to go to the bottom of this,” he explained.
(It’s perfectly fine for people to transfer their voting records, but a 40-percent increase is highly unusual…The Comelec would like to go to the bottom of this.)
Among those places that saw a high influx of voter transfers were Makati City, Cagayan de Oro, and
Over 20 abandoned vehicles found at NAIA
By Lenie Lectura @llectura
THE New NAIA Infra Corp. (NNIC) on Thursday reported that there are more than 20 abandoned vehicles, some dating back as far as 2014, found in various parking facilities across Ninoy Aquino International Airport (NAIA).
The airport operator is taking action to remove these vehicles to address potential safety hazards and eventually free up limited parking space for passengers. NNIC is offering owners a final chance to reclaim their cars before they are towed and impounded.
“These abandoned vehicles are taking up space that should be available for passengers. They are
also a security and safety concern, especially in their deteriorating states,” said NNIC. “We are waiving any applicable fees to encourage owners to reclaim them.”
NNIC is conducting further audits across all NAIA terminals and expects the number of abandoned vehicles to rise.
Owners must present proof of ownership and valid identification to reclaim their vehicles. After a grace period, unclaimed vehicles will be towed and impounded at government facilities. NNIC will coordinate with relevant agencies to ensure proper handling.
The NNIC, which won the contract to operate the country’s gateway facility, has been introducing reforms since it took over last month.
NAIA Terminal 4, the airport’s oldest terminal, is scheduled for renovation beginning November 6, 2024, to address its aging infrastructure and improve overall passenger experience.
The NNIC said it will prioritize safety upgrades while also improving passenger flow and modernizing facilities.
The renovated terminal is expected to reopen in February 2025.
Terminal 4 currently serves AirSWIFT with 12 daily flights, Sunlight Air with 2 daily flights, and CebGo with 36 daily flights.
On average, Terminal 4 handles approximately 2,900 passengers each day—1,400 arriving and 1,500 departing—representing 2.23 percent of NAIA’s total daily passenger volume.
OVP budget for safehouses shocks legislators
LBy Jovee Marie N. dela Cruz @joveemarie
AWMAKERS were shocked to learn that the Office of the Vice President (OVP) spent P16 million in confidential and intelligence funds (CIFs) to rent 34 safehouses for just 11 days in the last quarter of 2022. One safehouse cost nearly P91,000 per day, a rate even higher than luxury resorts like Shangri-La Boracay. Under Vice President Sara Duterte’s leadership, the OVP also spent P16 million on safehouse rentals for both the first and second quarters of 2023, though for significantly longer rental periods compared to the 11 days in the last quarter of 2022. In the third quarter of 2023, the OVP spent P5 million for safehouse rentals over 79 days, bringing the total rental expenses across all four quarters to P53 million.
These findings were revealed during Thursday’s continuation of the House Committee on Good Government and Public Accountability investigation into alleged misuse of public funds by the OVP and the Department of Education (DepEd), both led by Vice President Duterte.
Records showed that the OVP spent P16 million on 34 safehouses, with rental payments ranging from P250,000 to P1 million per property, made between December 21 and 31, 2022. However, the liquidation reports submitted by the OVP to the Commission on Audit (COA) relied on unsigned and incomplete acknowledgment receipts, without supporting documents such as lease contracts.
Manila Rep. Joel Chua, who chairs the committee, questioned the extravagant costs, comparing them to high-end properties like Shangri-La
Boracay, which charges around P25,000 per night.
He also pointed out that typical monthly rentals in Bonifacio Global City are about P90,000—far less than the daily rate paid by the OVP for its safehouses.
No one from the OVP attended the hearing, leaving COA audit team leader Gloria Camora to field questions.
Chua asked if the COA found it unusual that the OVP’s safehouse rentals were so expensive.
Camora confirmed that the audit team did not have specific details about the properties.
Antipolo City Rep. Romeo Acop expressed frustration over COA’s reliance on incomplete acknowledgment receipts to validate the rental payments, asking if there was any way to verify their authenticity.
Camora admitted that COA could not determine if the receipts were fabricated.
Manila Rep. Ernesto Dionisio Jr. noted inconsistencies in OVP spending between the fourth quarter of 2022 and the first three quarters of 2023, particularly the exorbitant P16 million spent for just 11 days in 2022. Camora acknowledged that the spending for that period seemed unusually steep compared to later quarters.
Subpoenas
MEANWHILE, the House Committee on Good Government and Public Accountability has issued new subpoenas to six officials from Vice President Sara Duterte’s office, warning that they will be arrested if they fail to appear at the next hearing.
The panel chaired by Manila Rep. Joel Chua issued the subpoenas to Zuleika Lopez, VP Duterte’s chief of staff; Lemuel Ortonio, assistant OVP COS; Rosalynne Sanchez, OVP Director for Administrative and Financial Services; Gina
Acosta, OVP Special Disbursing Officer; Juleita Villadelrey, OVP Chief Accountant; and Edward D. Fajarda, former DepEd Special Disbursing Officers and now with the OVP.
“Do I hear a motion for the issuance of subpoena ad testificandum to the resource persons that we invited or subject of show cause order, and yet they refused to attend and recognize this committee?” said Chua.
To which Rep. Keith Flores said, “Mr. Chair, I move that we issue subpoena ad testificandum to the persons named by the Comsec those who were issued show cause orders.”
“So those resource persons are subject of the show-cause order. So, do I hear a second to the motion of Honorable Keith? Duly seconded... The Comsec is ordered to issue subpoena ad testificandum to the following resource persons,” Chua said. The committee issued show-cause orders to the OVP officials following their absences, and Chua signaled that further action may include contempt citations and possible arrests if they continue to evade the inquiry.
The investigation stems from accusations surrounding the misuse of P125 million in confidential funds by the OVP, with P73 million being flagged by the Commission on Audit (COA).
The COA report raised red flags after the bulk of the amount was spent in just 11 days, from December 20 to 31, 2022. Despite the issuance of show cause orders, none of the officials in question attended recent hearings.
Chua, in coordination with the Bureau of Immigration and the Department of Justice, has also requested the issuance of a lookout bulletin order to ensure the officials do not evade accountability by leaving the country.
Nueva Ecija.
Initial investigation in Makati suggest that many of these voters utilized barangay certificates to facilitate their transfers.
As pointed out by Garcia, the ease of acquiring these certificates might lead to their overuse or even abuse.
“Ang problem po namin ay pinapayagan po kasi ang paggamit ng barangay certification kung walang government-issued ID ang mga botante,” he said.
(Our problem is that the use of barangay certification is being allowed for voters who don’t have a government-issued ID.)
As such, the poll chief said it might be best to revisit Republic Act No. 8189 or the Voter’s Registration Act.
Under the current law, registered voters can transfer their voting records from one precinct
to another, provided they submit documents like a barangay certificate to prove their residency in the new area.
Garcia hinted that the law may have loopholes that can be exploited, leading to mass transfers that could influence the outcome of elections in certain locations.
The Comelec has already formed a task force to investigate the irregularities and assess whether the sudden surge in voter transfers is an indication of potential electoral manipulation, such as “hakot,” a practice where individuals are incentivized to register in a different area to sway election results.
From July 1 to September 30, the poll body received a total of 65,784 requests for transfer of voter registration with reactivation, as well as transfer with reactivation and correction of entries. #
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UN and US pressure Israel to step up action to tackle escalating Gaza humanitarian crisis
UBy Edith M. Lederer The Associated Press
NITED NATIONS—The top UN hu -
manitarian official accused Israel on Wednesday of blocking the delivery of desperately needed aid to Gaza, and the US ambassador demanded that its government step up efforts to tackle the Palestinian territory’s “intolerable and catastrophic humanitarian crisis.”
Acting humanitarian chief Joyce Msuya and US Ambassador Linda Thomas-Greenfield stepped up the pressure on Israel at an emergency meeting of the UN Security Council on the escalating humanitarian emergency, especially in northern Gaza.
The council meeting, called by Algeria, the Arab representative on the council, followed a US warning to Israel to boost aid efforts dramatically or risk losing funding for weapons from its main supplier. The Biden administration gave Israel 30 days to take a number of actions, including sending 350 trucks with food and other aid into Gaza every day.
Israel’s UN Ambassador Danny Danon insisted that his country’s humanitarian efforts remain “as comprehensive as ever” and criticized the council for focusing on
the humanitarian situation in Gaza while Israeli civilians “are being targeted daily by those who seek our destruction.”
He said Israel has delivered over one million tons of aid, including 700,000 tons of food, to Gaza since it launched its military operation after Hamas’ surprise attack in southern Israel on October 7, 2023. Danon accused the international community of missing the real issue—which he said was Hamas’ hijacking of aid shipments while fellow Palestinians suffer.
“This makes it incredibly difficult to ensure that the aid reaches its intended recipients,” he said. But Israel remains committed to working with its partners to deliver aid, “even under these dangerous and morally reprehensible conditions.”
Msuya, the top UN aid official, painted a grim picture, telling the council that there is barely any food left in northern Gaza where an Israeli offensive is under way. No food entered the north from October 2 to October 15 “when a trickle was allowed in,” she said, and “most bakeries will be forced to shut down again in the next several days without additional fuel.”
Throughout Gaza, Msuya said, less than one-third of the 286 humanitarian missions coordinated with Israeli authorities in the
first two weeks of October “were facilitated without major incidents or delays.”
The level of suffering in Gaza worsens every day, she said, as Israeli bombs continue to fall, fierce fighting continues, and “supplies essential for people’s survival and humanitarian assistance are blocked at every turn.”
Riyad Mansour, the Palestinian UN ambassador, accused Israel of besieging, bombing and starving 400,000 Palestinians in northern Gaza as part of its all-out war against the Palestinian people.
“These are crimes,” he said. “This is genocide. They must be stopped—and they must be stopped now.”
Thomas-Greenfield, the US ambassador, pointed to some new Israeli commitments since the US warning and two-dozen trucks entering northern Gaza for the first time in several weeks.
But she said Israel’s progress since last week is “insufficient” and stressed that it must follow through on its commitments, including opening more border crossings and routes and taking steps “to help secure delivery routes against armed gangs involved in violent looting.”
“A ‘policy of starvation’ in northern Gaza would be horrific and unacceptable and
would have implications under international law and US law,” the US ambassador warned. “The government of Israel has said that this is not their policy, that food and other essential supplies will not be cut off, and we will be watching to see that Israel’s actions on the ground match this commitment.”
At the council meeting, there were repeated calls by members for action by the UN’s most powerful body to end the more than yearlong war in Gaza.
Guyana’s UN Ambassador Carolyn Rodrigues Birkett lamented that 47 Security Council meetings and four legally binding resolutions in the past year, including demands for a cease-fire, “have not had the expected results, and the situation in Gaza continues to worsen with each passing day.”
“We must not allow the shredding of the moral and legal thread that holds our organization together,” she said. “The most fundamental question then that this council faces is, what will we do to stop this tide?”
Thomas-Greenfield urged all council members to support the UN as it works with Israel to step up aid deliveries. She said the US focus in the coming months will be “getting humanitarian aid in, getting hostages out, and ending the conflict.”
US long-range stealth bombers target underground bunkers of Houthi rebels
By Jon Gambrell Tje Associated Press
DUBAI, United Arab Emirates—US long-range B-2 stealth bombers launched airstrikes early Thursday morning targeting underground bunkers used by Yemen’s Houthi rebels, officials said.
It wasn’t immediately clear what damage was done in the strikes.
However, there are no previous reports of the B-2 Spirit being used in the strikes targeting the Houthis, who have been attacking ships for months in the Red Sea corridor over the Israel-Hamas war in the Gaza Strip.
The Houthis’ al-Masirah satellite news channel reported airstrikes around Yemen’s capital, Sanaa, which the group has held since 2014. They also reported strikes around the Houthi stronghold of Saada. They offered no immediate information on damage or casualties.
US Defense Secretary Lloyd Austin said in a statement that the B-2 bombers targeted “five hardened underground weapons storage locations in Houthi-controlled areas of Yemen.”
The strike also appeared to be an indirect warning to Iran, the Houthis’ main benefactor, which has targeted Israel with ballistic missile attacks twice over the past year. The
B-2 would be used in any American attack on hardened Iranian nuclear facilities like Natanz or Fordo given it is the only aircraft in service that can drop the GBU-57, known as the “Massive Ordnance Penetrator.”
“This was a unique demonstration of the United States’ ability to target facilities that our adversaries seek to keep out of reach, no matter how deeply buried underground, hardened, or fortified,” Austin said.
Austin and the US military’s Central Command offered no immediate assessment on the damage done. However, Central Command said in a statement that initial assessments suggested no civilians had been killed. The Red Sea has become a battlefield for shippers since the Houthis began their campaign targeting ships traveling through the waterway, which once saw $1 trillion of cargo pass through it yearly.
Houthis have targeted more than 80 merchant vessels with missiles and drones since the war in Gaza started in October 2023. They have seized one vessel and sunk two in the campaign that has also killed four sailors. Other missiles and drones have either been intercepted by a US-led coalition in the Red Sea or failed to reach their targets, which have included Western military vessels.
Death sentence looms for Vietnamese tycoon convicted of $12.5 billion fraud
By Hau Dinh & David Rising
The Associated Press
HANOI, Vietnam—A Vietnamese real estate tycoon was convicted Thursday of fraudulently obtaining property worth billions of dollars in a case that has been a centerpiece of the government’s crackdown on corruption.
Truong My Lan was already convicted in April by the same Ho Chi Minh City court of fraud amounting to $12.5 billion—nearly 3% of the country’s gross domestic product—in a separate case and sentenced to death by lethal injection.
The trials were broken into two parts due to the number of allegations against her, and Thursday’s verdict, which carries a maximum penalty of life in prison, adds to Lan’s legal troubles as she awaits the appeal of her death sentence to be heard.
Vietnam has handed down more than 2,000 death sentences in the past decades and executed more than 400 prisoners. It is a possible sentence for 14 different crimes but is generally only applied in cases of murder and drug trafficking.
“Standing here today is a price too expensive for me to pay. I consider this my destiny and a career accident,” the VNexpress online newspaper quoted Lan, the chairwoman of property developer Van Thinh Phat, as telling the judges in her closing statement last week.
“For the rest of my life, I will never forget that my actions have affected tens of thousands
of families.”
Thirty-three others were tried as co-defendants in the case but details on the other verdicts were not immediately available. Lan’s sentence was expected to be announced later in the day.
In addition to obtaining property by fraud, Lan was also convicted of money laundering and illegal cross-border money transfer charges, according to state-run media.
She was accused of raising $1.2 billion from nearly 36,000 investors by issuing bonds illegally through four companies, according to state media reports.
She was also found guilty of siphoning off $18 billion obtained through fraud and for using companies controlled by her to illegally transfer more than $4.5 billion in and out of Vietnam between 2012 and 2022.
It was not immediately clear if Lan would appeal the verdict and no date has yet been set for her appeal of her death penalty conviction to be heard.
In the April conviction, she was found to have orchestrated financial fraud amounting to $12.5 billion for illegally controlling a major bank allowing loans that resulted in losses of $27 billion, according to state media reports.
Lan’s arrest in October 2022 was among the most high profile in an ongoing anti-corruption drive in Vietnam that has intensified since 2022.
The Communist Party’s “blazing furnace” campaign has also touched the highest echelons of Vietnamese politics.
US and allies alarmed by North Korea’s nuclear threats, military support for Russia in Ukraine
By Kim Tong-Hyung The Associated Press
SEOUL, South Korea—The US and its allies are “alarmed” by North Korea’s nuclear and missile threats as well as its increasing military support for Russia’s war in Ukraine, a senior US official said Wednesday, but couldn’t confirm Ukrainian claims that North Korean soldiers were sent to fight for Moscow. US Deputy Secretary of State Kurt Campbell spoke with reporters following discussions with South Korean and Japanese counterparts on reinvigorating an international pressure campaign against North Korea, which faltered in recent years amid a deepening divide at the UN Security Council. Earlier on Wednesday, Washington, Seoul and Tokyo announced plans with eight Western governments to launch a new multinational team to monitor the enforcement of sanctions against North Korea.
Former President Vo Van Thuong resigned in March after being implicated in the campaign. Since 2016, thousands of party officials have been disciplined, including former President Nguyen Xuan Phuc and the former head of parliament, Vuong Dinh Hue, both of whom resigned.
In all, eight members of the powerful Politburo have been ousted on corruption allegations, compared to none between 1986 and 2016.
The anti-corruption drive began in 2013, but it wasn’t until 2018 that authorities began scanning the private sector. Since then, several owners of Vietnam’s fast-growing businesses have been arrested.
The campaign had been the hallmark of Communist Party General Secretary Nguyen Phu Trong, Vietnam’s top politician, who died earlier this year at age 80.
The ideologue had called corruption a grave threat to the party and vowed that the campaign would be a “blazing furnace” in which no one was untouchable.
In another high-profile case, business tycoon Trinh Van Quyet was found guilty in Augustw of defrauding stockholders of nearly $150 million by falsely inflating the value of his company.
The Hanoi People’s Court sentenced Quyet to 21 years in prison and convicted 49 co-defendants on a variety charges, with sentences ranging from probation to multiple years in prison.
Lan and her family established the Van Thinh Phat company in 1992 after Vietnam shifted from a state-run economy to a more market-oriented approach that was open to foreign investors. She started out helping her mother, a Chinese entrepreneur, sell cosmetics in Ho Chi Minh City’s oldest market, according to the state media outlet Tien Phong.
Van Thinh Phat became one of Vietnam’s richest real estate companies, with projects including luxury residential buildings, offices, hotels and shopping centers. This made her a key player in the country’s financial industry.
Lan’s first trial shocked many Vietnamese.
Analysts said the scale of the scam raised questions about whether other banks or businesses had similarly erred, dampening Vietnam’s economic outlook and making foreign investors jittery at a time when Vietnam is trying to position itself as the ideal home for businesses trying to diversify supply chains away from China.
Rising reported from Bangkok.
killed after a Ukrainian missile strike in the partially occupied eastern Donetsk region on Oct. 3.
North Korea has also been making increasingly provocative threats against rival South Korea, including accusing the South of infiltrating drones to drop anti-North Korean propaganda leaflets over Pyongyang and threatening to attack if it happens again.
North Korea on Tuesday blew up the northern sections of unused road and rail routes that once linked it with South Korea, in a choreographed demolition demonstrating its growing anger with South Korea’s conservative government.
Tensions on the Korean Peninsula have spiked since 2022, as North Korean leader Kim Jong Un used Russia’s war on Ukraine as a window to dial up his weapons testing activities and threats. Washington, Seoul and Tokyo have strengthened their combined military exercises in response and took steps to sharpen their nuclear deterrence strategies built around strategic US assets.
Following his talks with Campbell and Japanese Vice Foreign Minister Masataka Okano, South Korean Vice Foreign Minister Kim Hong Kyun said that the countries condemn the North’s “intentional moves to create tensions.”
China unveils $562 billion financing to revive slumping property market
By Zen Soo Ap Business Writer
HONG KONG—China will expand the amount of financing available for housing projects on a “white list” to 4 trillion yuan ($562 billion), officials said Thursday in Beijing’s latest moves to reverse a slump in the property industry.
Minister of Housing and Urban-Rural Development Ni Hong said during a news conference Thursday in Beijing that measures will also be taken to redevelop 1 million urban villages across the country. Ni stopped short of elaborating on the scale of the funding for the redevelopment.
He said that the housing market had “bottomed out” after three years, with October data showing a spike in property sales.
The government has been redoubling efforts in recent weeks to stabilize the real estate market after a downturn triggered by a crackdown on excess borrowing. Once a bright spot in China’s economy, the property market has since become a drag.
On Saturday, authorities announced that they would allow local governments to use funds from unallocated government bond quotas and to raise debt ceilings to help prop up the property market.
Russia in March vetoed a UN resolution in a move that effectively abolished monitoring by UN experts of Security Council sanctions against North Korea. It prompted Western accusations that Moscow was acting to shield its arms purchases from Pyongyang to fuel its war in Ukraine.
Campbell said there are signs that North Korea was increasing its support of materials, including artillery and missiles, for Russia’s war on Ukraine, which he said was “creating further instability in Europe.” He said the US was still evaluating reports that North Korea was also sending personnel.
“We are concerned by them and...we agreed that we will continue to monitor the situation closely,” Campbell said about the claims.
Ukrainian President Volodymyr Zelenskyy has said that North Korea is sending military personnel to help Russia’s war effort, without providing details. Ukrainian media reported earlier this month that six North Koreans were among those
“We have agreed to maintain a solid South Korea-US combined posture to respond firmly to North Korean provocations and strengthen security cooperation through close coordination between South Korea, the US, and Japan,” Kim said.
The diplomats issued a joint statement condemning North Korea over its nuclear and missile developments, deepening military cooperation with Russia and various illicit activities to fund its weapons program and highlighted United States’ “ironclad” commitment to defend its allies.
The statement also reflected growing regional tensions with China.
The diplomats expressed their opposition to “any unilateral attempts to change the status quo” in Indo-Pacific waters and “unlawful maritime claims” in the South China Sea. They also criticized China’s recent drills around Taiwan and stressed that “no further actions should be taken that could undermine peace and stability across the Taiwan Strait.”
In January, officials announced a list of housing projects that would be eligible for financing. Loans for such projects had reached 2.23 trillion yuan ($313 billion) as of Wednesday, said Xiao Yuanqi, deputy director of the National Financial Regulatory Administration.
Some analysts however say that measures implemented so far will not be enough to solve China’s property crisis in the near term.
“It’s a ticking time bomb that will take years, maybe even decades, to defuse,” said Stephen Innes, managing partner at SPI Asset Management. “No matter how much money or effort they throw at it, this problem isn’t going away anytime soon.”
In late September, the outstanding mortgage rates for individual borrowers were also cut by an average of 0.5 percentage points, and the minimum down payment ratio on purchases of second homes was also lowered to 15 percent from 25 percent.
UNITED STATES Deputy Secretary of State Kurt Campbell attends a trilateral meeting with South Korea’s First Vice Foreign Minister Kim Hong-kyun, unseen, and Japan’s Vice Foreign Minister Masataka Okano, unseen, at the Foreign Ministry in Seoul Wednesday, October 16, 2024. JUNG YEON-JE/POOL PHOTO VIA AP
RESIDENTS walk beside a luxury housing construction site in Beijing on September 24, 2024. AP/ANDY WONG
VIETNAMESE real estate tycoon Truong My Lan, center, is escorted to a trial for her verdict on fraud, money laundering and illegal cross-border money transferring in Ho Chi Minh city, Vietnam on Thursday, October 17, 2024. QUYNH TRAN/VNEXPRESS VIA AP
Unlocking the potential of OFW remittances for PHL economic growth
THe steady growth in overseas Filipino worker (OFW) remittances is a testament to the resilience and dedication of our workers abroad. As the latest data from the Bangko Sentral ng Pilipinas (BSP) shows, cash remittances increased by 2.9 percent to $22.22 billion in the first eight months of 2024, putting the country on track to reach $34 billion to $36 billion by year-end. This is a remarkable achievement, especially considering the global economic uncertainties. (Read the BusinessMirror story: “Maximize remittance flows— experts to government,” October 16, 2024).
However, experts warn that more needs to be done to truly maximize the potential of these remittances for the country’s development. The government and the private sector must work together to offer a wider array of investment instruments beyond real estate, which has traditionally been the go-to option for many OFWs and their families.
Initiatives like the Personal Equity and Retirement Account (PERA) provide valuable savings and investment opportunities, but they remain underutilized due to a lack of awareness and accessibility. As Ateneo professor Alvin P. Ang rightly points out, these existing instruments need to be better-explained and marketed to OFWs and their families.
Equally important is the need to encourage a culture of savings and investment among all Filipinos, not just those with family members abroad. As University of Santo Tomas’ Jeremaiah M. Opiniano emphasizes, “remittances are privately owned,” and the government’s role should be to promote sound financial habits and responsible money management.
The potential of OFW remittances extends beyond personal wealth creation. These funds can be harnessed for nation building, fueling entrepreneurship, supporting infrastructure development, and contributing to the country’s economic growth. But for this to happen, a comprehensive and coordinated effort is required.
The path forward requires a multi-pronged approach. The government must continue its efforts to promote financial literacy and responsible money management among Filipinos, both at home and abroad.
Simultaneously, financial institutions must actively market and simplify access to investment instruments, ensuring they are tailored to the needs and understanding of OFWs and their family members. This includes providing clear, accessible information in multiple languages and formats, and potentially offering financial advisory services specifically designed for OFWs.
Ultimately, maximizing OFW remittances is not just about increasing the numbers; it’s about empowering OFWs to secure their financial futures and contributing to the sustainable growth of the Philippine economy. By fostering financial literacy, promoting diverse investment opportunities, and creating a supportive ecosystem, the Philippines can unlock the full potential of its invaluable OFW remittances. By working together to harness the full potential of OFW remittances, we can unlock a new era of inclusive and sustainable development for the Philippines. The time is ripe to turn these critical financial inflows into the building blocks of a stronger, more prosperous nation.
BusinessMirror
T. Anthony C. Cabangon
Lourdes M. Fernandez
Jennifer A. Ng Vittorio V. Vitug
Lorenzo M. Lomibao Jr., Gerard S. Ramos
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Eduardo A. Davad Nonilon G. Reyes
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Rolando M. Manangan
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Why Susan Smith deserves to stay in jail
Pfor the rest of her life, even if she lives to be 100. Her punishment should reflect the gravity of her crime.
Smith will be eligible for parole on November 4, 2024, after 30 years of incarceration at Leath Correctional Institution in South Carolina. Parole board members should remember what happened on October 25, 1994, and review her prison records, including incidents of misconduct.
Thirty years ago, Smith buckled her two sons—three-year-old Michael and 14-month-old Alexander—into her Mazda, drove to John D. Long Lake and placed the car in neutral so it would roll into the water. She exited as the vehicle sank, abandoning her sons to drown.
That a mother could do this to her children, all to save a relationship with a man who didn’t want to
raise them, is unthinkable. For nine days, she tried to fool the entire country, alleging a black man carjacked her vehicle with her sons inside and making public appeals on national television for their safe return.
After a thorough police investigation, Smith confessed on November 3, 1994, which led to a search of the John D. Long Lake. They discovered the car with the children’s bodies in the lake. While Smith owned the crime, her actions and demeanor demonstrated a lack of remorse during the trial.
In 1995, a jury found Smith guilty of two counts of murder, and the judge sentenced her to life in prison instead of the death penalty—a deci-
Thirty years ago, Smith buckled her two sons—three-year-old Michael and 14-month-old Alexander—into her Mazda, drove to John D. Long Lake and placed the car in neutral so it would roll into the water. She exited as the vehicle sank, abandoning her sons to drown.
sion that frustrated many, including her ex-husband, David Smith, the father of the two boys.
The fact that South Carolina enforces the death penalty for murderers did not deter the then 23-year-old Smith from carrying out the crime. Smith thought her fabricated story of a carjacking would stick with the authorities, believing the police would never locate the car submerged 122 feet from the shore.
Beyond her ability to lie convincingly, her disregard for the potential consequences, even in a state with capital punishment, is troubling. She was focused on achieving her goal —a comfortable life with her relatively affluent lover in a small South Carolina town.
The manner of the murder adds another layer of horror. Smith freed herself from the sinking car but intentionally left her two young boys strapped in their seats. That a mother could do so callously gives a haunting picture of a woman devoid of conscience and empathy.
We will never know what Michael
and Alex may have said in those last moments, but it’s harrowing to imagine the terror and helplessness they experienced before their deaths. Hours later, Smith made dramatic pleas to law enforcement and the media.
“To my babies, your mama loves you so much, and your daddy and his whole family loves you so much, and you guys have got to be strong. Whoever has my children, that they please, I mean please, bring them home,” Smith said at the time.
Nine days later, the car was retrieved, with the bodies of Michael and Alex still strapped in their seats. Smith became one of the most notorious child murderers in US history, and now she will face her first parole hearing in 30 years.
Smith has little to offer the parole board, no good behavior, and no contrition for her crime.
In 2015, 20 years after the murder, she wrote to reporters: “I am not the monster society thinks I am. I am far from it. Something went very wrong that night. I was not myself. I was a good mother, and I loved my boys. The thing that hurts me the most is that people think I hurt my children in order to be with a man. That is so far from the truth.”
The parole board should carefully consider the evidence and weigh the potential risks of releasing Smith, including its impact on society. They should look back at what happened to Michael and Alex on October 25, 1994, to help them decide.
Japan’s exports fall most since 2021 amid global slowdown
By Erica Yokoyama
JAPA
n’S exports declined in September by the most since February 2021, sapping momentum from the country’s economic recovery as global demand weakened.
Exports declined 1.7 percent from a year ago led by cars, mineral fuels and construction machinery, and slipping to negative growth for the first time since November last year, the Ministry of Finance reported Thursday. The reading missed economists’ forecast of a 0.9 percent gain.
Imports rose 2.1 percent, led by electronic calculators and semiconductor parts, and slightly missing the consensus estimate of a 2.8 percent gain, while the trade deficit narrowed to ¥294.3 billion ($2 billion).
Thursday’s results indicate that Japan’s economy likely received limited support from external demand in the third quarter amid a global slowdown. Japan’s economy expanded in the three months through June, partly driven by a rise in private consumption, though the growth also appeared to be a temporary rebound after a deep contraction in the prior period.
“It’s a weak result,” said Yayoi Sakanaka, senior economist at Mizuho Research & Technologies, adding that net exports will likely be a drag on the third quarter. “Looking ahead, though the yen is slightly weaker again, I don’t think it will be a tailwind for exporters” given that other stronger factors are at play, such as China’s strengthening of its own exports which will likely muscle out Japanese shipments.
The weaker exports reflect sluggish global growth amid growing uncertainty about the outlook in major economies. Shipments to China sank 7.3 percent, reversing gains of 5.2 percent the month before, while those to the US and Europe fell 2.4 percent and 9 percent, respectively.
The World Trade Organization recently suggested that global goods trade in 2025 will grow less than initially forecast, as rising instability weighs on economic activity and
Thursday’s results indicate that Japan’s economy likely received limited support from external demand in the third quarter amid a global slowdown. Japan’s economy expanded in the three months through June, partly driven by a rise in private consumption, though the growth also appeared to be a temporary rebound after a deep contraction in the prior period.
threatens to disrupt shipments.
Still, central banks have started to cut interest rates to avoid deeper slowdowns. Last month, the Federal Reserve announced a half-percentage-point rate cut to sustain its economy, following a similar decision by its European counterpart. The European Central Bank is expected to lower rates again at its meeting Thursday.
The Bank of Japan is closely monitoring global trends, especially in the US and China, Deputy Governor Ryozo Himino said last week. Himino suggested employment and consumption data in these countries
are becoming increasingly important for the bank’s decisions. In last month’s policy statement, the central bank noted that overseas economies have generally experienced moderate growth. The BOJ will meet at the end of the month, with most economists expecting it to maintain current settings, according to a Bloomberg survey last month.
“While a weak overseas economy is one hurdle for the BOJ to raise interest rates, I believe the bank is more focused on domestic prices and exchange rate levels,” said Mizuho’s Sakanaka. Japan’s currency remains another source of uncertainty, with the yen approaching the 150 level to the dollar. Finance Minister Katsunobu Kato recently said that he will closely watch both the positive and negative impacts of yen moves on Japanese businesses. While a weak yen can boost exporter profits, it also raises import prices, impacting households through increased costs, he said.
In the September trade report, the yen averaged 144.27 to the dollar, 1.5% stronger than a year ago, the ministry said. bloomberg
riSOnS exist for people like Susan Leigh Smith. Serving a life sentence for a horrific crime committed in 1994, she deserves to remain behind bars
Ambassador Antonio L. Cabangon Chua
Trudeau describes failed efforts at quiet diplomacy with Modi
By Brian Platt
Canadian Prime Minister Justin Trudeau said he only went public with a murder allegation involving india’s government after a lengthy behind-the-scenes effort to address the matter diplomatically was rejected by indian officials.
He said Canadian officials had first sought cooperation with Prime Minister Narendra Modi’s government “in a responsible way” that doesn’t “blow up the relationship between Canada and India,” especially given India was about to host a Group of 20 leaders summit at the time.
“We had the opportunity of making it a very uncomfortable summit for India if we went public with these allegations ahead of time,” Trudeau said, recalling the discussions in August 2023. “We chose not to. We chose to continue to work behind the scenes to try to get India to cooperate with us.”
Canada’s intelligence made it clear India was involved in the killing of Hardeep Singh Nijjar, a Sikh activist gunned down in British Columbia earlier that year, Trudeau said. His efforts at quiet diplomacy culminated in a meeting with Modi at the G-20 summit in September 2023, but this also failed to make progress on the matter, he said.
“I sat down and shared that we knew that they were involved, and expressed a real concern around it,” Trudeau said. “He responded with the usual response from him, which is that we have people who are outspoken against the Indian government living in Canada that he would like to see arrested.”
Trudeau gave the account during testimony to a judicial inquiry examining foreign interference in Canadian democracy. The inquiry has mostly focused on China, but other countries including India have also come up during the hearings.
Canada’s allegation that India played in a role in the slaying of Nijjar exploded into public view shortly after the Trudeau and Modi meeting, when Trudeau revealed it in a speech to the Canadian Parliament. He had to go public in part because some media outlets were preparing stories on the matter, Trudeau said.
Modi’s government reacted furiously, rejecting the accusation as absurd, ejecting Canadian diplomats and temporarily suspending visa processing.
“Canada has presented us no evidence whatsoever in support of the serious allegations that it has chosen to level against India and Indian diplomats,” India’s foreign ministry spokesperson Randhir Jaiswal said in a statement Thursday. “The responsibility for the damage that this cavalier behavior has caused to India-Canada relations lies with Prime Minister Trudeau alone.”
Canadian police have criminally charged four Indian nationals over the Nijjar killing, but the allegations haven’t stopped there.
This week Canada and India expelled each other’s most senior envoys after Canada’s national police force said Indian diplomats were implicated in an escalating campaign of violence and extortion across the country.
At a news conference on Monday,
“We had the opportunity of making it a very uncomfortable summit for India if we went public with these allegations ahead of time,” Trudeau said, recalling the discussions in August 2023. “We chose not to. We chose to continue to work behind the scenes to try to get India to cooperate with us.”
Trudeau said Canadian officials had again tried to seek India’s cooperation behind the scenes and its only response had been to deny, obfuscate and attack his government. He said he spoke with Modi at the end of last week and impressed upon him that the allegations needed to be taken “very, very seriously.”
India has called Canada’s allegations “preposterous” and politically motivated. It had designated Nijjar a terrorist.
Trudeau told the inquiry on Wednesday that the Royal Canadian Mounted Police would have preferred to follow the country’s usual law enforcement procedure and not reveal the allegations before charges or a trial. But it felt it had no choice but to go public given the involvement of Indian officials with diplomatic immunity.
“The decision by the RCMP to go forward with that announcement was entirely anchored in public safety, and a goal of disrupting the chain of activities that was resulting in drive-by shootings, home invasions, violent extortion, and even murder, in and across Canada—particularly in the South Asian community,” Trudeau said.
The prime minister also revealed that his government asked Canada’s intelligence agencies to look into Nijjar’s murder after hearing concerns from South Asian members of Parliament and those in the community, but learned officers were already investigating it.
Ultimately, Canada is not looking to provoke a fight with Modi’s government and has repeatedly tried to give “off ramps” to India that have been rejected, Trudeau said.
“We don’t want to be in this situation of picking a fight with a significant trading partner, with whom we have deep people-to-people ties and a long history and are fellow democracies.”
Conservative accusations
T HE inquiry was prompted by a series of media leaks last year that cited intelligence memos alleging China was orchestrating efforts to get certain candidates elected in Canada.
One media story alleged a Chinese diplomat boasted he had helped ensure Trudeau’s Liberal Party won a minority government in Parliament, and that such an outcome was best for China.
An interim report earlier this year found China’s attempted meddling did not affect the election results. With assistance from Preeti Soni /Bloomberg
And when October goes (For Tinay & Willy)
Was it a year ago when she asked me to be one of the sponsors for her wedding? That morning, in one of the quiet cafes in the city, she and her future groom sat in front of me to hand me the invite to that big day.
We spoke about their plans, amusing ourselves with our own personal experiences with wedding coordinators. I was relieved that she inherited much of the grit and good taste of her mother. No fuss. No long-winded ceremonies. And no exchange of cheesy vows. There would, I am sure of it, be a charcuterie or grazing tables with real cheese.
Then it was time to talk about the future: would she have plans to be back in our old city? Naga City has changed a lot, I told her. She agreed. I shared with her how during our high school days, my friends dreamt of roadside cafes or tables arranged al fresco where we would sip cocktails and enjoy the sunset or early evening. And how we laughed because then, there was only dust to greet those who braved being right along the street. But now, as if convincing ourselves, we have these bars and cozy brasseries around us. We planned to meet for an hour but our conversation went on and on. Until it was time for memories. Her mom was one of my true friends.
Based in Manila, I would come home on a weekend and would come out only in the evening of Saturday.
My route was predictable: to her home first and it depended on the time of the day. If by chance, I could wake up earlier, she would invite us for lunch, with foods catered to serve our particular taste, fastidious only in that it was always the same request from me. Grilled meat, a bit of a salad, and beer (when my health status still allowed this drink). For her, it was always a bottle of clear liquid that we pretended to be water. When lunch was not in the schedule, I would fetch her at night, and we—this to include our former college teacher with his wife, who had become a friend as well—would all meet in a Chinese restaurant that hid behind two red pillars a room with a karaoke machine. And there to satisfy the dictum that true friendship was predictability, we would sing to our heart’s content during the first 30 minutes or so. And I would use the last hours singing all the old songs that we all loved. We covered all the tracks—from the maudlin to the mushy, the trash to the torch. Each song covering a private joke, each music an anthem to our sadness and joys. The night would stretch on and on and when our couple-friends had given up, the two of us would harass
acquaintances who happened to own bars or local speakeasies, and there we would continue singing.
Grace was young when she passed on. I remember one of our last meetings in her home. There was a slight drizzle but we opted to remain on their porch. Music continued to play from the living room—the song was radically curated from Eddie Peregrina’s “Memories of our Dreams” and “Mardy” to Tony Bennett’s “Boulevard of Broken Dreams” and “Cold, Cold Heart.” Jo Stafford was with us with “No other Love” and Nora Aunor with “Waiting for you.” Billie Holiday and Bessie Smith were wailing. It was insane recalling this now. And as the rain went on, we noted the tiny birds flying in and out of the eaves.
Grace loved “I’ll be seeing you” but for some reason we avoided the song that day. While the afternoon was a celebration of love between and among friends, we were wary of one thing—mortality. Rudy, our teacher, would go first. At the hospital, while he was in a coma, Grace would not
let me leave her alone outside Rudy’s room. She would follow our teacher. One day, with Janet and I left to have coffee, I mentioned the ineffable: “We are the only ones left.” Janet, for the first time, cried in front of me not over sadness but for the fact that two of our good friends had passed on. She would soon be gone as well. Who decides on these: deaths, life, fate, triumphs, sorrow? There is no sense asking this question. In Kafka on the Shore, Murakami Haruki writes how “memories warm you up from the inside. But they also tear you apart.”
I wanted to tell this young brave woman, Tinay, now an accomplished physician, how I wish your Mom was with us. But this was too cruel to mention. “Your mom would love some great music for your wedding.” She agreed. Outside, after a brief shower, the sun was out again, in our dear old city, in October, where memories have remained sweet, warm and without time.
E-mail: titovaliente@yahoo.com
Invalid, incomplete, and indefinite medical assessment as basis for seafarer’s total permanent disability benefits
aPinoy Marino Rights
seafarer is entitled to total permanent disability benefits if the company-designated physician (CdP) fails to issue a valid, final, and definite medical assessment as contemplated by law.
This was the ruling of the Supreme Court in the case of Fleet Ship Mgt Services Phils Inc vs. Alejandro Lescabo (G.R. No. 268962 June 10, 2024) involving a seafarer who was medically repatriated due to pneumonia, hyponatremia, and acid peptic disease.
After his arrival in Manila on October 11, 2019, he was referred to the CDP for medical treatment.
On January 20, 2020, during his eighth examination, the seafarer was advised by Dr. San Andres, a member of the CDP’s team, to return for another evaluation on February 10, 2020.
However, on February 7, 2020, or three days before his next scheduled visit, another member of CDP’s team, Dr. Regino, issued the 9th and Final Medical Report that declared the seafarer was fit to resume sea duties.
A final, complete, and definitive disability assessment is important in
order to truly reflect the extent of the illness or injuries of the seafarer and his capacity to resume his sea duties.
The medical assessment must clearly state whether the seafarer is fit to work or the exact disability rating, or whether such illness is workrelated, and without any further condition or treatment. It should no longer require any further action on the part of the company-designated physician and it is issued by the company-designated physician after he or she has exhausted all possible treatment options within the periods allowed by law.
The Court disregarded the Final Medical Report and declared the seafarer as total permanently disabled.
First, the medical assessment is deemed incomplete because only pneumonia and acid peptic disease indicated a “medical conclusion,” which, respectively, were “resolved” and “treated” but not his other medi-
cal condition (hyponatremia) that was also included in his initial diagnosis. The seafarer would have been left to guess whether his hyponatremia was also resolved.
Second, the Medical Report was issued by the company-designated physician without sufficient basis.
The seafarer was not medically assessed by Dr. Regino prior to the issuance of the ninth and Final Medical Report, which cast serious doubt as to the bases of his findings.
The CDP had 120 days from seafarer’s arrival on October 11, 2019 or until February 8, 2020 to issue a final assessment. The Final Medical Report was suddenly issued a day before the expiration of the 120-day period despite the scheduled appointment on February 10, 2020.
Instead of extending the treatment to 240 days as sanctioned by law, the CDP chose to abruptly end any kind of medical attention due him, which resulted in a baseless finding that he was then already fit to work.
The Court stressed that a bare and rash claim that the seafarer is fit for sea duties is insufficient and it will not hesitate to strike down an incomplete, and doubtful medical report and disregard the improvidently issued assessment.
The CDP’s findings must not be merely provisional, incomplete, doubtful, or clearly biased in favor of an employer.
Third, the Final Medical Report was belatedly transmitted electroni-
US turns to spycraft to halt spread of Congo’s deadly conflict
By Peter Martin & Simon Marks
for the Democratic Republic of Congo’s president, Felix Tshisekedi: The US would share secret intelligence with his government in return for his participation in a cease-fire in one of the world’s longest-running conflicts. Director of National Intelligence Avril Haines told Tshisekedi that the US would highlight the movements of the powerful M23 rebel group that’s active in the eastern DRC, a mineral-rich region home to a conflict that’s raged on-and-off for more than 30 years. Haines made a similar offer to Rwandan President Paul Kagame during a trip to Kigali, which US and United Nations officials say backs M23. Those meetings initiated what is now almost a year of rare intelligence sharing with both sides, according to senior US officials, who asked not to be identified discussing sensitive negotiations. It marks the most significant Western
effort in years to prevent another major outbreak of hostilities in a conflict whose latest flare-up has displaced more than 2 million people and threatens to spiral into a regional conflagration. US officials tout the engagement as successful “intelligence diplomacy,” but it’s yet to produce real results beyond a temporary—and unstable—cease-fire. It’s also done little to stop M23 from expanding its territory and taking control of much of Congo’s coltan trade. Other minerals including gold and tin are also
smuggled to Rwanda, according to the UN. A State Department spokesperson declined to comment on intelligence matters. A spokesperson for the US Office of the Director of National Intelligence declined to comment on intelligence sharing. “These efforts by the US
diplomacy’ RWANDAN
Yolande Makolo confirmed the intelligence sharing, calling it “constructive.” The Rwandan government has repeatedly denied backing M23. A person familiar with the DRC’s thinking confirmed the exchanges, but said they’ve done little to halt recent M23 attacks. The Biden administration used “intelligence diplomacy” most prominently when it downgraded swaths of classi-
cally only on February 17, 2020, or nine days after the lapse of the 120day period. Failure to provide the final and definite assessment to the seafarer within the 120/240-day period will lead to a finding that no valid assessment was issued.
Finally, there is no valid, final, and definite assessment since the seafarer was not duly and properly informed by the company-designated physician of his assessment. The final report was sent only via the seafarer’s wife’s Facebook Messenger account.
Medical certificates or reports should be personally received by the seafarer as a necessary incident of their being fully and properly informed of their own medical condition. If not practicable, it may be sent to him/her by any other means sanctioned by present rules. Since proper notice is one of the cornerstones of due process, failing to provide it also results in a finding that no valid assessment was given to the seafarer.
As the CDP failed to issue a valid, final, and definite assessment within the 120-day period, the seafarer is therefore presumed to be suffering from a permanent and total disability, thus, entitling him to the corresponding benefits granted by law.
Atty. Dennis R. Gorecho heads the Seafarers’ Division of the Sapalo Velez Bundang Bulilan Law Offices. For comments, e-mail info@sapalovelez. com, or call
fied information about Russian President Vladimir Putin’s plans to invade Ukraine in 2022. Washington has also boosted intelligence sharing with Asian partners like India to counter Chinese assertiveness. Surging violence in eastern DRC and ongoing tensions with neighboring Rwanda have further destabilized the resource-rich region since the rebels launched a major offensive in November 2021. With assistance from Michael J. Kavanagh /Bloomberg
Tito Genova Valiente annoTaTions
Dennis Gorecho
Friday, October 18, 2024
Additional UA funding swells ’24 budget beyond program
By Reine Juvierre Alberto @reine_alberto
THE infusion of additional funding for unprogrammed appropriations (UA) pushed the 2024 budget to exceed the initial program.
Latest data from the DBM showed the government released 100 percent or P5.833 trillion of the initial P5.768-trillion programmed budget for the year as of end-September 2024. The budget release rate reached 100 percent, 2.8 percent faster than the 97.2 percent posted in the same period in 2023. This is due to the additional P65.173 billion in UA included in the P186.554-billion initial allocation for the purpose.
This pushed further UAs to reach P251.727 billion. Of the amount, P3.631 billion went to the National Economic and Development Authority (Neda) as assistance for government infra -
structure and social programs. About P34.328 billion was allocated for government counterparts of foreign-assisted projects while P120.826 billion was given as support to foreign-assisted projects.
Budgetary support to staterun corporations reached P10.157 billion, disbursed to the National Food Authority and Light Rail Transit Authority.
Moreover, the Department of Public Works and Highways (DPWH) was allotted P3 billion for the Panay-Guimaras-Negros Island Bridges Project, P6 billion for maintenance and repair of infrastructure facilities and P1.680 billion for payment of
‘China presence in WPS not about expanding territory but food access’
By Cai U. Ordinario @caiordinario
THE West Philippine Sea (WPS) is not about expanding territories but increasing China's access to food sources, according to an economist from the University of Asia and the Pacific (UA&P).
In the East West Bank economic forum, UA&P founder and Constitutionalist Bernardo M. Villegas said China's primary concern in the WPS is a means to feed its 1.4-billion population.
Villegas said China does not have agriculture resources and its recent foray into Africa and Latin America failed. This left Southeast Asia the only option to get additional food sources.
“Even with what they're doing in the West Philippines, (this) has nothing to do with wanting to take over the Philippines. The Chinese will never take over any country even Taiwan. Their main concern is all that food and fish that is there; they want to make sure that they have the first access to it,” Villegas said.
Villegas said Filipinos should capitalize on this by encouraging investments in agribusiness, adding that it would be useful for younger Filipinos to go into this sector.
He said that while there are young Filipinos who are keen on going into agribusinesses, many view agribusiness as only farming. Villegas said this should not discourage younger Filipinos since agriculture is not just about farming or planting crops.
“Agribusiness means post-harvest cold storage, supply chain, processing, all the way up to the final market,” Villegas said. “(It is worth noting that) the biggest challenge of the world, including China, is food security.” Villegas also said efforts to consolidate millions of farms that were
“splintered into small parcels because of a failed agrarian reform program” should be undertaken. These farms should be organized through cooperatives.
This would further encourage more investments into the sector.
He noted that big corporations are now taking notice, as businesmen such as Manuel V. Pangilinan have set their eyes on the sector by buying the known ice cream brand, Carmen’s Best, for instance. Villegas said given this, the company will now have an increase in demand for dairy supply which not only increases demand for livestock but for feeds such as corn.
“Because they bought Carmen's Best, they have to have a lot of cows to produce the milk, because if they have a lot of cows, they have to produce thousands of hectares of corn. And that is all agribusiness. And that will contribute to the three to four percent growth that we want to see in agriculture,” he said.
Last month, the government said it is now eyeing to review the provisions of the Mutual Defense Treaty (MDT) with the United States amid China’s growing aggression in the West Philippine Sea.
National Maritime Council (NMC) spokesman Undersecretary Alexander Lopez said they are now considering the option amid the new security challenges faced by the country.
Defense Secretary Gilbert Teodoro stressed the need to expand or change the MDT to allow the US to support the country in stopping China’s activities that have jeopardized Philippine units in the West Philippine Sea (WPS).
Aside from the US, Lopez said the Philippines is also actively engaging with other countries to enforce international laws in the WPS. (See: https://businessmirror.com. ph/2024/08/28/phl-govt-eyes-mdt-reviewamid-new-wps-incidents/).
right-of-way.
To manage and supervise a comprehensive peace process, the Office of the Presidential Adviser on Peace, Reconciliation and Unity was disbursed P15.559 million.
The Department of Health was also given P3.370 billion for its priority social programs for health as well as the public health emergency benefits and allowances for health care and non-healthcare workers.
The Department of National Defense also received P10 billion for the revised Armed Forces of the Philippines Modernization Program.
Meanwhile, P31.264 billion was released as payment of personnel benefits to various government agencies.
Based on the DBM's data, about P3.849 trillion or 96 percent of the P4.010 trillion programmed amount for the 2024 General Appropriations Act (GAA) has been disbursed as of end-September 2024.
Of this, national departments were allotted P3.435 trillion or 98.1 percent of the P3.502-trillion allocation.
Meanwhile, P414.371 bil -
lion, or 81.7 percent of the P507.481-billion allotment, were released for special purpose funds, such as budgetary support to state-run corporations, allocation to local government units (LGUs) and calamity funds among others.
For automatic appropriations, P1.662 trillion has been released as of end-September, accounting for 94.6 percent of the P1.758-trillion allocation.
Under automatic appropriations, national tax allotment, block grant, pension of former presidents or their widows, special account in the general fund and tax expenditures fund/customs duties and taxes were fully released.
To pay off the government's debts, the DBM disbursed 88.3 percent or P592.043 billion of the P670.471-billion budget for the said purpose. Moreover, funding allotted for net lending remained at 25 percent or P7.175 billion of the P28.700-billion allocation for the year.
For 2025, the national budget is pegged at P6.352 trillion, higher by 10.1 percent than the P5.768-trillion 2024 budget.
TBy Malou Talosig-Bartolome
HE recently passed revised Corporate Recovery and Tax Incentives for Enterprises (CREATE) is imposing additional taxes on freight and on Filipinos working for foreign investors based in the country, a German cargo businessman said.
Michael Kurt Raeuber, chairman of the board and Group CEO of Royal Cargo, said these changes in taxation are hurting businesses and will eventually dent the overall Philippine economy.
Freight cargo is being taxed 25 percent, on top of the 12 percent value-added-tax .
“My personal opinion is that tax on freight should not be possible based on Philippine law because the Philippine law states that taxes should be applied on income and not cost.
“But freight except for shipping lines is a cost for everybody else. So if you impose a cost on freight plus VAT, then we would have an increase in cost of freight about 35 percent,” Raeuber said.
He said China had tried to impose a similar tax on freight years ago, but stopped its implementation months later.
“This is hurting the Philippine economy in reality. If you have a tax on freight plus VAT, then you automatically increase the cost of transportation,” he said.
In a meeting between German Ambassador to Manila Andreas Michael Pfaffernoschke and the German Chamber of Commerce Tuesday night, Raeuber also complained that the new tax law in the Philippines also applies to employees of foreign-owned businesses based in the Philippines.
“We hire not only foreigners, but also FIlipinos who work for us abroad in different countries. But the payment of the employment will be done here in the Philippines. The new tax will be 25 percent plus VAT,” he explained. So foreign investors, in turn, might change the place of employment of their workers when it’s time to renew their contracts.
The Joint Foreign Chambers of the Philippines has also flagged Administrative Order No. 23-2024 which requires preborder technical verification and cross-border electronic invoicing for commodities bound for export to the Philippines.
He acknowledged that there are double taxation treaties signed by the Philippines with countries which could solve those additional tax burdens.
However, he said, it takes four months—if there are no backlogs—to process tax rebates or exemptions.
“In our experience, it can take a year, two or three before the tax treaty will be acknowledged. So it negates the whole thing,” Raeuber said.
The German-Philippine Chamber of Commerce and Industry said they have received similar complaints not only from other German businesses, but also from other foreign chambers and Philippine owned businesses.
“We would take that up and represent that up to relevant (Cabinet) secretaries,” said Marie Antoniette Marian, president of the board of directors of German-Philippine Chamber of Commerce.
German Ambassador Pfaffernoschke also committed to help raise these taxation issues with the Philippine government.
Australia commits 5-year devt program for PHL
By Malou Talosig-Bartolome
AUSTRALIA has committed to help the Philippines's development projects including civil maritime security and peace building in Bangsamoro Autonomous Region for Muslim Mindanao for the next five years, until the end of the term of President Ferdinand Marcos Jr. and on the first year of his successor. The commitment is laid out in the Philippine-Australia Development Partnership Plan 2024-2029, which was launched Thursday in Makati. Australia's Secretary of Foreign
Affairs and Trade Jan Adams AO PSM also arrived in Manila to witness the launching.
“This collective development plan is a major, significant milestone in our relations,” Australian Ambassador to Manila HK Yu said during the press conference after the launch.
Yu said the DPP follows through the recently signed Strategic Partnership agreement between President Marcos Jr. and Australian Prime Minister Anthony Albanese in Canberra last May.
“It is in absolutely in Australia’s interest to make sure the Philippines is peaceful, stable and prosperous.
Why? Because we live in the same region as you and right now, you’re at the forefront of protecting the rulesbased order on behalf of the global community.
“And we are very important strategic partners to you who share the same values and broader vision of having a region where no country dominates and no country is dominated,” Yu said. Yu said they have worked with the National Economic and Development Authority in crafting the DPP, in consultation with 85 organizations from the private sector, civil society, academia and other government agencies.
Australia is one of the largest official development assistance partners of the Philippines, averaging P4 billion annually in capacity building and development support. About P3.6 billion of these are for development assistance, Yu said. She expects that this would be the same or roughly higher amount that the Australian government would extend to implement the DPP. In her speech, Secretary Adams said Australia will focus on supporting stability, fostering inclusive and sustainable economic growth and strengthening resilience of the Philippines.
Editor: Jennifer A. Ng
Alternergy keen on raising additional capital via REIT
By Lenie Lectura @llectura
Alternergy Holdings
Corp.
(Alter) is consolidating its land assets with the recent acquisition of a newly-established land holding company, triple Play land Corp. (3PlCo).
“3PLCo eventually can be used as a platform by a Lt ER to transform it into a future REit [real estate investment trusts] to raise additional capital for the group,” said a lternergy President Gerry P. Magbanua.
“3PLCo will be unique due to its diverse holdings of complementary renewable power assets.”
t he board, which approved on t hursday the creation of 3PLCo,
ERC restructuring pushed amid PHL shift to clean energy
envisions 3PLCo as a means to consolidate ownership of land used as project sites for a Lt ER’s various renewable energy (RE) projects, whether wind, solar or run-of-river hydro. i n recent days, a Lt ER also announced the completion of its acquisition of the issued and outstanding capital stock of a lternergy Solar holdings Corp. ( a ShC) as the 100 percent owner.
a Lt ER said the move is part of the ongoing restructuring of the company to organize its RE technologies into separate intermediate holding companies. a ShC will hold a Lt ER’s solar energy portfolio similar to the already existing a lternergy Wind holdings Corp. ( aW hC) for wind and a lternergy Mini hydro holdings Corp. ( a MhhC) for hydro.
t he creation of a ShC and a LtER’s 100 percent ownership are expected to bring about a more vitalized solar energy portfolio for a Lt ER. it is also seen to result in operational efficiency and open new markets and access to larger capital resources.
Last September, a lternergy said it will need to raise P15 billion to add 191 megawatts (MW) to its RE portfolio by 2026.
From 86MW of total capacity of operating assets as of end-2023, a lternergy is looking at the addition of 225MW more from four projects
that are up for completion in 2025.
For 2026, there will be an additional capacity of 191MW that will come from two projects that are in pre-development stage and another project for completion. i n all, this will bring the company’s total capacity to 502MW in the next two years.
“Funding for the 225 megawatts has been locked in already. t he additional 191 megawatts, that’s something that we will continue to seek funding for in the next few months. We will need to raise both equity and debt.
a nd normally, once we implement a project, we typically do it in a project finance basis. So maybe around 75 percent will be from debt and 25 percent from equity. i n terms of amount, the 191 megawatts would probably require around P15 billion of capex [capital expenditure],” said Magbanua during a press briefing.
Eaton ties up with Secore Global
By VG Cabuag @villygc
Po WER management com -
pany Eaton has appointed Secore Global i nc., the distribution arm of Gentec Group, to become the Philippine distributor of its huanyu brand low-voltage circuit protection solutions. Eaton said these solutions hope to empower local property developers to develop future-ready structures amid the steady increase in electric consumption in the Philippines.
Etihad in early talks with Boeing
Etihad a irways is in early talks with Boeing Co. and a irbus
SE for a possible widebodyaircraft order as the carrier aims to double in size in the coming years, according to people familiar with the matter.
abu dhabi’s flag carrier is looking to purchase twin-aisle jets to upgrade and expand its fleet of long-distance aircraft, said the people, who asked not to be identified discussing private matters. Etihad will most likely choose between the a irbus 350 and Boeing 777X, they said.
Etihad and Boeing declined to comment. a irbus said it’s always in talks with customers and declined to comment on specific deliberations with any potential buyers. t he people cautioned that talks are at an exploratory stage and Etihad may decide not to place an order anytime soon. Both aircraft models come with their own set of challenges. Etihad is facing issues with the maintenance cycles for the engines made by Rolls Royce holdings Plc on its a irbus 3501000 aircraft. a nd the Boeing model, of which Etihad has already ordered 25 units, is years behind delivery schedule. Boeing said late last week that the aircraft would now come to market in 2026. t he shortage of new jets has prompted the carrier to retrofit older 777 aircraft with new interiors as it seeks to capitalize on growing travel demand. t he airline now has more than 90 aircraft in its fleet. Bloomberg News
huanyu brand low-voltage circuit protection products are targeted to meet the rising demand for economical yet high-quality circuit protection solutions in the Philippine market,” tony Lin, Eaton’s electrical sector country manager for taiwan and the Philippines, said. t he partnership will focus on serving the growing demand for low-cost residential housing, township projects, and mid-rise commercial buildings across the country.
“We are excited to collaborate with Eaton to bring huanyu brand high quality yet economical lowvoltage circuit protection solutions to our customers,” said Erwin Gabriel Buling, general manager of Secore Global. to ensure comprehensive coverage across the region, Secore Global said it has organized a dedicated sales team and established sales offices and warehouses in Mandaluyong, Rizal, Cebu, and Bacolod for the efficient distribution of huanyu brand products.
Secore Global was established in d ecember 2014 as an importer and distributor initially covering the extra low voltage and auxiliary market, as it saw a strong potential growth in the electrical industry.
ELV is an electricity supply voltage and is a part of the low-voltage band in a range which carries a low risk of dangerous electrical shock. t he company has since shifted its interest to the sector with products catering to the low voltage and medium voltage requirements in the industry.
ThE Energy Regulatory Commission (ERC) is in dire need of restructuring to address the high volume of pending cases which has now reached 6,000. during a Senate hearing on bills seeking to amend Republic act 9136 or the Electric Power industry Reform act (Epira) of 2001, ERC Commissioner Floresinda Baldo- d igal said half of the total pending cases are various applications for power supply deals.
“of the 3,000 (cases), 1,000 plus are rate cases that will cover PSa [power supply agreements] applications,” said digal.
PS a s are long-term contracts between a power supplier and a distribution utility. t hese must be approved by the ERC prior to implementation.
t he other half, she told Senate Committee on Energy chairperson Pia Cayetano, are related to the showcause orders issued against erring power stakeholders.
“We have around 618 consumer complaints,” which digal said are even handled by the commissioners. “What we have done recently is to assign one commissioner, at least for a certain threshold of consumer complaints.”
digal said the ERC acknowledges the government’s goal in pursuing the transition to cleaner energy sources while maintaining reasonable electricity rates and a competitive business environment. in navigating these two streams in parallel, she said the agency needs changes to its structure and the authorities given to it by Congress more than 20 years ago.
“We would like to ask support for the Epira amendments that would give authority to the ERC to undertake further restructuring and reorganization of the agency.”
in a nutshell, the ERC proposed the adoption of four sets of amendments to ERC’s mandate under Epira. t hese are authority for the ERC to undertake periodic restructuring and reorganization of the agency; clarity and expressed language on the permitting and quasi-judicial functions of the ERC to allow for more actions (such as permits) to be carried out by staff through delegated authority; limited fiscal autonomy that will allow for the commission to retain a portion of its income for certain purposes, such as capital outlay, training and innovation initiatives; and authority to direct the application of fines and penalties towards
the lowering of rates affected by actions of erring stakeholders.
‘Understaffed’ thE agency is understaffed with only 294 filled plantilla positions out of the 389 authorized positions.
“We are only manned now (by) 300 plantilla positions. We are complemented by at least another 300 which are contractual employees,” digal said. “We lose our staff to the industry that we are regulating because they offer better salaries and benefits.” to streamline the regulatory process, digal proposed that permit applications be evaluated by staff-level employees.
a s of now, even the certificates of compliance [CoC] of the gencos [generation companies] are elevated to the 5-man commission en banc. But recently we have adopted an ad hoc committee composed of only of three commissioners which will evaluate the CoC applications. t he CoC itself gets signed by the chairperson so that it cuts layers of work.” t he ERC regulates an energy industry valued at P630 billion, comprised of the generation, transmission, distribution, and supply sectors.
Latest data shows that there are 238 gencos are operating 585 power plants. t he distribution sector, meanwhile, is composed of 142 distribution utilities (dUs), with a total investment of P160.4 billion. t here is one transmission concessionaire operating 21,027 circuit kilometers of transmission lines, 48,801MVa sub-station capacity, and has P357.7 billion in total equity. For the supply sector, there are 487 Wholesale Electricity Spot Market participants and 132 electricity suppliers.
during the hearing, the Philippine Electric Plant o wners a ssociation (PEPoa) proposed that there should be a prescribed timeframe within which ERC must release its decision on deliberated cases.
“ t here should be a timeline provided, probably 90 days or 180 days…. t his can take out the backlog from the commission,” said PEPoa President Ranulfo ocampo. in cases where new ERC commissioners must be appointed, candidates must be highly knowledgeable about the energy sector, preferably with relevant technical, engineering and economics background.
Continued on B2
Banking&Finance
BSP collects over-₧1B worth of loose change
OVER a billion-peso worth of loose change has been collected through the Coin Deposit Machines (CoDMs) located in various malls in the Greater Manila Area, according to the Bangko Sentral ng Pilipinas (BSP).
Based on the latest data, some P1.009-billion worth of coins were collected through the CoDMs as of October 11. This is just over a year since the project was launched in June 2023.
The BSP considered the CoDM a success in plugging the country’s artificial coin shortage. As such, it intends to add another 25 CoDMs nationwide by next year.
“This will make it more convenient for Filipinos to deposit their idle coins, helping recirculate them back into the economy while promoting cashless transactions,” the BSP said.
“By increasing accessibility, the BSP aims to reach more communities and ensure that the benefits of the CoDM initiative are widely felt across all regions,” added the central bank. Since its launch, the CoDMs have accumulated more than 260 million pieces of coins and facilitated more than 240,000 transactions.
Through the CoDM, people can place legal tender coins in the machines, with the total value credited to e-wallet accounts in GCash or Maya, GoTyme bank accounts, or converted into shopping vouchers. Legal tender coins include the BSP Coin Series and the New Generation Currency Coin Series, composed of 1-, 5-, 10-, and 25-Sentimo; and, 1-, 5-, 10-, and 20-Piso.
In terms of shopping vouchers, customers of SM Stores and Festival Mall may also redeem the value of their deposited coins in the form of shopping vouchers that can be used in stores nationwide.
The BSP said that when using the machines, customers must ensure that coins are not taped or bundled as well as must not come with other objects like buttons, magnets, nails, tokens, screws, or washers. These should be gently placed in the coin slot in handfuls.
Further, the BSP advised customers to ensure their e-wallet accounts are valid, active, and within the prescribed transaction limits.
The CoDMs are presently located in Robinsons Place Metro East, Pasig City; Robinsons Place Novaliches, Quezon City (QC); Robinsons Place Antipolo, Rizal; Robinsons Place Magnolia, QC; Robinsons Place Ermita, Manila; and, Robinsons Galleria, Ortigas.
The list also includes the following: Festival Mall, Muntinlupa City; SM Megamall, Mandaluyong City; SM City Grand Central, Caloocan; SM City Marilao, Bulacan; SM City Taytay, Rizal; SM Hypermarket FTI, Taguig City; SM Southmall, Las Piñas City; and, SM City Sucat, Parañaque.
The machines can also be accessed by the public in the following areas: SM City Calamba; SM City Marikina; SM City San Mateo, Rizal; SM City Valenzuela; SM Mall of Asia, Pasay City; SM City North EDSA, QC; SM City Fairview, QC; SM City San Lazaro, Manila; SM City Bicutan, Parañaque; and, SM City Bacoor, Cavite.
Low liquidity ratio may help thrift banks meet obligations
By Cai U. Ordinario @caiordinario
THE Chamber of Thrift Banks (CTB) believes a Minimum Liquidity Ratio (MLR) lower than what the Bangko Sentral ng Pilipinas (BSP) is keen to keep may help CTB members meet short-term obligations.
In the General Membership Meeting (GMM) on Friday, CTB President Cecilio D. San Pedro said reducing the MLR to 16 percent will help thrift banks better manage liquidity. San Pedro said as the BSP is still
open to consider the reduction of the MLR, the Chamber will continue to engage the BSP on its proposal.
“We reiterated our request for the BSP [to] consider reducing the MLR from 20 percent down to 16
percent noting that this will provide much needed flexibility for smaller banks in managing liquidity,” San Pedro said.
“The BSP [is] open to considering this reduction, should future circumstances warrant it, and we will continue to engage them on this important matter,” he added.
Based on the Manual of Regulations for Banks (MORB), an MLR is required for stand-alone thrift banks, rural banks, and cooperative banks to promote short-term resilience to liquidity shocks. The MORB stated that the liquidity ratio is expressed as a percentage of a bank’s eligible stock of liquid assets to its total qualifying liabilities. These banks consist of liquid assets that consist of cash on hand; reserves in the BSP; overnight and term deposits with the BSP;
Loans growth in 9 mos. lifts BPI Jan-Sep income
ARECORD high third-quarter performance boosted the Bank of the Philippine Island’s (BPI) net income in the January to September period this year.
In a disclosure to the Philippine Stock Exchange, BPI said its 9-month net income grew 24.3 percent to P48 billion.
In the third quarter alone, BPI recorded a net income of P17.4 billion, the highest quarterly income posted by the bank to date. This also marked a 29.4 percent growth from the same period last year.
“Earnings per share for the first nine months stood at P9.10, up 16.5 percent from last year’s P7.81, notwithstanding the additional shares
issued for the BPI and RBC (Robinsons Bank) merger,” BPI said.
In the 9-month period, BPI’s total revenue reached P125.8 billion representing a 24.7 percent increase on the back of the strong performance of its net interest income (NEI), which grew 22.2 percent to P93.8 billion.
The lender added that average loans expanded 18.9 percent and net interest margin widened 22 basis points to 4.29 percent. Its NEI, on the other hand, rose 32.4 percent to P31.9 billion from securities trading gains of P3 billion while fee income also increased 28 percent year-onyear to P26.4 billion.
This was attributable to higher service charges, credit card fees, and
PNB raises $300M from return to intl bond market
ficer Francis B. Albalate said.
THE Philippine National Bank (PSE: PNB) has raised $300 million for its sustainable financing initiatives from its return to the international bond market after a 5-year hiatus.
In a statement to the local bourse, the PNB said it tapped the international market for its benchmarksized Sustainability Regulation S offering of 5-year senior notes under its $2 billion Euro Medium Term Note programme.
bancassurance income.
However, operating expenses reached P59.4 billion, a 22.1-percent growth due to higher costs for manpower, transaction processing and technology; leading to a 47.2-percent cost-to-income ratio.
The bank recorded provisions of P4.8 billion, a 60-percent hike from last year. On a sequential quarteron-quarter basis, the NPL ratio increased only 10 basis points to 2.3 percent, with sufficient NPL coverage at 111.17 percent.
In the third quarter, the bank said gross loans grew to P2.1 trillion, an 18.9-percent increase year-on-year, driven by consistent growth across all portfolios. Personal loans more
than doubled at 103.3 percent, business banking was up 99.3 percent and microfinance loans grew 65.2 percent, the lender added. Total deposits also stood at P2.5 trillion a 14.5 percent year-on-year growth, with CASA ratio at 63 percent and loan-to-deposit ratio at 85.9 percent.
Total assets stood at P3.2 trillion, up 17.2 percent year-on-year, according to the country’s fourth-largest lender in terms of assets. Total equity stood at P433.3 billion, with an indicative Common Equity Tier 1 Ratio of 14.8 percent and a Capital Adequacy Ratio of 15.5 percent, both above regulatory requirements. Cai U. Ordinario
“We are grateful for the support shown by global investors in our return to the international bond market after a 5-year hiatus. The result of this note offering is a clear indication of investors’ trust and confidence in PNB,” PNB President Florido P. Casuela was quoted in a statement as saying.
“This offering will fund the bank’s sustainable financing initiatives as we continue to solidify our position among the forerunners of nationwide development across the Philippine banking system,” added Casuela.
In terms of geographical distribution, 89 percent of the investors were from the Asia Pacific region, while 11
The 5-year bond was priced at T+102 basis points, with a fixed coupon rate of 4.85 percent. The offering was met with strong demand, as the final order book was more than 3.6x oversubscribed, reaching $1.1 billion from global investors. Moody’s has assigned an investment grade rating of Baa3 to the 5-year bond.
percent were from Europe, the Middle East, and Africa (EMEA) region.
By investor type, the PNB said 67 percent were asset managers and hedge funds, 23 percent were banks, and the remaining 10 percent were private banks, broker dealers and others.
ING and J.P. Morgan were the Joint Lead Managers and Joint Bookrunners for the transaction, and PNB Capital acted as Sole Global Coordinator in relation to the Programme.
ING acted as the Sole Sustainability Coordinator.
“We believe this is an ideal time to return to the market, given the reduction in interest rates complemented by the Bank’s improved core banking activities,” PNB Chief Financial Of -
Cultivating a culture of curiosity
IF I have to pick one word that repeatedly comes out of my recent readings and research, this would be “curiosity.” I was curious (pun intended) and remembered the phrase “curiosity is the mother of invention.”
The phrase encapsulates the idea that a natural inquisitiveness and desire to explore the unknown is the driving force behind the creation and development of new ideas, technologies, and innovations. It suggests many groundbreaking discoveries and inventions originate from a curious mindset: the eagerness to question, explore, and understand the world around us.
In the dynamic world of associations, the maxim “curiosity is the mother of invention” holds profound significance. Associations, much like any other entity, thrive on innovation and the ability to adapt to an everevolving landscape. Below are some aspects where the benefits of curiosity within associations can be harnessed:
1. Problem solving and innovation. Curiosity is often the driving force behind problem solving and innovation. Associations face a myriad of challenges: from shifting member
needs to external disruptions. Association leaders who approach these challenges with a curious mindset are more likely to seek unconventional solutions, experiment with novel approaches, and turn setbacks into opportunities for growth and improvement.
2. Member engagement and satisfaction. Curiosity extends to understanding the needs and expectations of members. Associations that cultivate a genuine curiosity about their members’ experiences, preferences, and aspirations are better equipped to tailor their programs and services. This member-centric approach not only enhances engagement but also contributes to the overall satisfaction and loyalty of the association’s community.
3. Technological advancements. The rapid pace of techno -
logical advancements presents both challenges and opportunities for associations. A curious association embraces technological innovations, encouraging members to explore new tools, platforms, and methodologies. By fostering a tech-savvy culture, associations can harness the power of cutting-edge technologies to streamline operations, enhance communication, and deliver value to members.
4. Continuous learning and professional development. Associations that recognize the importance of continuous learning and professional development embody the spirit of curiosity. Offering educational resources, training programs, and opportunities for skill enhancement encourages members to stay curious and updated in their respective fields. This commitment to ongoing learning contributes to the professional growth of individuals and the collective advancement of the association.
5. Change with agility. The association landscape is marked by constant change, and a curious mindset equips organizations to navigate these changes with agility. Association leaders who approach industry
“We have already enhanced our banking operations and processes to support continuous growth as we expect our business to further strengthen in the future,” Albalate added.
The PNB posted a net income of P10.3 billion in the first semester of 2024, a 5.6 percent higher year-onyear. This translated to a return on average equity (ROE) of 10.5 percent, higher than 10.3 percent and 10 percent in the first semester 2023 and full year 2023, respectively.
The country’s seventh-largest lender in terms of assets added its Common Equity Tier 1 ratio of 18.5 percent remains the highest among Philippine local banks.
shifts, economic trends, and societal developments with curiosity are more likely to anticipate challenges and seize opportunities. This proactive approach ensures that associations remain resilient and adaptive in a dynamic environment. By cultivating a culture of curiosity, associations can unlock the creative potential within their communities, drive innovation, and stay ahead in an ever-changing environment. Embracing curiosity not only propels associations forward but also ensures their relevance and impact in the lives of their members. As associations continue to evolve, curiosity remains a powerful catalyst for the inventive spirit that fuels progress and prosperity.
What have you been curious about lately?
Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives (PCAAE), the “association of associations.” The PCAAE and the SustainablePH will hold a joint summit on sustainability at the PICC on November 27, 2024. The views that Peralta expressed herein do not necessarily reflect those of the BusinessMirror E-mail: bobby@pcaae.org.
Higher revenues, lower loan loss provisions benefit AUB
HIGHER revenues and lower loan loss provisions boosted the consolidated net income of Asia United Bank Corp. (PSE: AUB) and its subsidiaries in the January to September period this year.
In a disclosure to the Philippine Stock Exchange (PSE), the AUB said its 9-month consolidated net income jumped 41 percent to P8.6 billion from P8.3 billion in 2023.
This translated to a return on equity of 22.4 percent and a return on assets of 3.4 percent, both higher than the previous year’s 19.4 percent and 2.5 percent, respectively.
“We expect our performance to remain robust, especially as we start reaping the full benefits of the government’s National ID system, with AUB being the first Philippine bank to integrate the Philippine Statistics Authority’s ‘eVerify,’” said AUB President Manuel A. Gomez.
“This will hasten our account opening process and Know Your Customer (KYC) compliance, reduce paperwork, improve loan application and approval processes, and enhance security for financial transactions,” Gomez added.
Through its digital partnerships, the AUB has enabled merchants to accept digital payments from their customers using its digital-payment acceptance product.
The AUB also said it has revolutionized cross-border digital payments through its “HelloMoney” e-wallet, among others.
Meanwhile, the AUB said its performance during the period also benefited from net interest margins that rose 11 percent to P12.5 billion. This was driven by higher “interest income from its loan portfolio and investment activities.”
The AUB also reported that its
net interest margin ratio improved to 5.3 percent from the 4.9 percent recorded in the same period last year.
“Non-interest income grew from improved foreign exchange gain, recovery income, and service charges and other fees from other operating activities such as credit cards, AUB PayMate, remittance, trust, and other branch-related transactions,” the AUB added.
However, the bank’s operating expenses rose by 6 percent to P5 billion during the first three quarters. This was largely due to higher staff compensation and capital expenditures needed to finance AUB’s growth opportunities.
The bank’s credit and impairment losses plunged by 93 percent from the P1.1 billion a year ago, as credit quality improved.
AUB also said its bad loans or nonperforming loans (NPL) ratio improved to 0.53 percent from the 0.7 percent posted last year. The bank said the bad loans remain covered from probable losses, with an NPL coverage ratio of 120.7 percent, higher than the 107 percent last year.
Total assets stood at P352.0 billion, up two percent from the same period last year. Its total loan portfolio grew six percent to P198.9 billion from P188.2 billion a year ago. This is sufficiently funded by deposits at P282 billion, with a loan-to-deposit ratio of 70.5 percent. The
Octavio Peralta
Association World
How hotel sales, marketing pros nurture their ties with clients
SALES and marketing in the hotel industry is a highly specialized skill, where professionals employ various strategies and schemes to foster and strengthen their relationships with individual guests and corporate clients, or with destination management companies and travel agencies.
Hotel Sales and Marketing Association (HSMA) president Loleth So told me, “We do not hard-sell. We value building relationships and take this very seriously. We even have sales trainings focused on these skills, so clients do not feel we are patronizing them, but rather taking care of them. That makes the difference.”
She says that last year, HSMA conducted a sales training for its members, although the hotels also hold their own training sessions based on their own budget, standards and guidelines. So adds that hotel sales and marketing professionals engage in various initiatives to always nurture existing and new clients from leisure agents and corporate accounts. For instance, “we organize hosted events to show how thankful we are for the business they give us. Sales blitzes are held to keep our clients updated with promotions and developments in our hotels.”
Key partnerships with clients are firmed up as well, by extending specific offers for their employees and guests, says So. Also, “tactical offers to leisure agents” are extended to encourage individual and group business.
And it can be as simple as remembering special occasions like birthdays, company anniversaries and milestones. “We give them cakes, pastries, vouchers, among others, to show our appreciation for the business partnership,” she says.
On October 10, the 200-strong HSMA celebrated the perseverance and efforts of their sales and marketing colleagues in safeguarding these precious relationships with their clients, as well as the outstanding marketing campaigns of their member hotels through the organization’s annual Virtus Awards. Held at the Dusit Thani Hotel, the Virtus Awards, now in its 10th year, carried the theme “A Decade of Distinction.”
Hotel Manila, The Ascott Limited, Midas Hotel and Casino, Novotel and Ibis Styles Manila Araneta City, and Megaworld Hotels and Resorts (MHR) took home the prestigious awards, stamping them as the “best of the best” in their respective fields.
Under the individual categories, the Virtus Award for Outstanding Sales and Marketing Associate was given to Belmont Manila eCommerce executive Mika Paula Bustillo and Ascott’s assistant manager for content and graphics Christian Paulo Morales, while Midas Hotel senior sales manager for rooms Ma. Fe Pulga received the award for Outstanding Sales and Marketing Manager. Recognized as Outstanding Sales and Marketing Leader was Erwin Fidel Doña III, director of marketing and communications at Novotel and Ibis Styles Manila.
MHR won the sole group category—the Institutional Award for Most Outstanding Marketing Campaign of the Year—for The Sampaguita” campaign, which established the company’s unique brand of hospitality. The brains behind the campaign included team leader Charlene Go-Co, head of marketing innovation, and team members Cleofe Albiso, MHR managing director; Jun Justo, cluster general manager (National Capital Region); Sonny Alvaro, cluster general manager (food and beverage); Claire Bernabe, director of customer experience and new ventures; and Nico Ivan Velasquez, group director of public relations.
A homegrown Filipino brand, MHR incorporated the country’s national flower into its brand of service across all of its 13 hotels, which complements the Megaworld Corp.’s sustainability initiative—reviving the sampaguita flower industry. (According to Velasquez, it was disheartening to find out that the production of the sampaguita has already dwindled, “considering it is our national flower,” such that there are only three remaining plantations devoted to its cultivation. “One sampaguita lei can now cost as much as P3,000 due to the inadequate production,” he says. Through this initiative, Megaworld planted 2,500 sampaguita seedlings in five of its townships last year.)
Meanwhile, So says Virtus winners were chosen from a pool of 56 finalists who were nominated by their respective HSMA member-properties in August. “Recognition is so important in hotel sales and marketing. Virtus is all about celebrating the people who work 24/7 in the industry,” she adds.
For her part, HSMA chairman Margie Munssayac says, That we have successfully implemented our Virtus Awards for 10 uninterrupted years is a huge cause for celebration. We have carried the torch of excellence proudly. Virtus is a spirit that moves in all of us, empowering us to stand proud of all that we have achieved.”
Unlock the best travel experience in South Korea SEE “HSMA,” B5
of the morning calm, your Metrobank credit card is your key to a more convenient and rewarding travel experience. Elevate your trip to South Korea with a simplified way to complete your visa requirements, and special offers under its FlyDeals promo to boot. Recently, Metrobank signed a memorandum of understanding with the Korea Tourism Organization, solidifying their strategic partnership to bring ease and convenience for Metrobank cardholders seeking to secure a Korean
Visa, and promote Korea as a premier travel destination. If you have a Metrobank World Mastercard, Travel Platinum Visa Card, Platinum Mastercard, or a Dollar Mastercard, you don’t need to secure financial documents such as bank certificates, bank statements, and Income Tax Returns when applying for a tourist visa to South Korea. To apply, cardholders simply need to provide an original copy of their Certificate of Employment, a copy of the front of their credit card, and the latest three months of billing statements. You can enjoy this simplified experience until December 31, 2024.
Now, unlocking the best travel experience in South Korea is much easier with Metrobank. On top of the simplified requirements for your tourist visa, you can also enjoy low spend requirement to earn miles, and lounge access with select Metrobank credit cards. To top this off, you can even enjoy exclusive promos to help you make the most of your budget for your next Korean getaway. Metrobank’s FlyDeals promo (tinyurl. com/4f8j5yuc) offers discounts of up to P4,000 when you use your Metrobank VISA credit card for your travel needs at Agoda and Klook every Thursday from today until October 31, 2024.
By Eugenia Last
Speak from the heart, and you’ll get the attention you require to make your point and gain insight and help from experts. You’ll shine if you embark on a challenge that requires physical endurance. You can make a difference if you put your mind to it, strategize and act.
VIRGO (Aug. 23-Sept. 22): Stretch your mind, visit inspiring places and consider a change that could lead to a better lifestyle. Be adventuresome, try something new and surround yourself with people of interest. The more information and influences you encounter, the easier it will be to make the right choice. ★★★★★
LIBRA (Sept. 23-Oct. 22): Mix business with pleasure. Join the conversation and participate in events and activities that cross over from things you enjoy to ways to use your attributes and skills to earn a living. Mix and match for optimum results, and peace and happiness will flourish. ★★★
SCORPIO (Oct. 23-Nov. 21): Don’t settle for anything less than what you want. Persistence, passion and ingenuity will get you to your destination and help you hold on to what’s essential. Refrain from letting what others choose to do lead to a direction that benefits them more than you. ★★★
SAGITTARIUS (Nov. 22-Dec. 21): You need to know the rules to make it easier to stick to the necessary protocol. When reason isn’t working for you, it’s time to be innovative and think outside the box. Dig deep, and your heart will lead you in a direction that makes you feel good about your achievements. ★★★
CAPRICORN (Dec. 22-Jan. 19): Take care of your needs. Fix up your space to accommodate what you want to do next.
Belmont
Show BusinessMirror
LIAM PAYNE, FORMER ONE DIRECTION MEMBER, DIES AT 31 IN ARGENTINA HOTEL FALL
BUENOS AIRES, Argentina—Former One Direction
singer Liam Payne, 31, whose chart-topping British boy band generated a global following of swooning fans, was found dead Wednesday after falling from a hotel balcony in Buenos Aires, local officials said. Buenos Aires police said in a statement that Payne fell from the third floor of the Casa Sur Hotel in the trendy Palermo neighborhood of Argentina’s capital, resulting in “extremely serious injuries.” Medics confirmed his death on the spot, the statement said.
Pablo Policicchio, the communications director for the Buenos Aires Security Ministry, said in a statement to The Associated Press that Payne “had jumped from the balcony of his room.” Police rushed to the hotel in response to an emergency call just after 5 pm local time, he said, warning of an “aggressive man who could be under the influence of drugs or alcohol.”
The hotel manager can be heard on a 911 call obtained by the AP saying they had “a guest who is overwhelmed with drugs and alcohol...He’s destroying the entire room and, well, we need you to send someone, please.” The manager’s voice became more anxious as the call went on, noting the room had a balcony. Payne had been vocal about struggling with alcoholism, posting a video in July 2023 to his YouTube channel where he said he had been sober for six months after receiving treatment. Representatives for Payne did not immediately return emails and calls.
Payne was one of five members of One Direction, which formed when they each auditioned for the British singing competition series The X Factor in 2010, two years after Payne’s first attempt to get on the show. At 16 the second time around, Payne sang Michael Bublé’s version of “Cry Me a River,” appearing nervous at the start but warming up with the audience’s cheers and applause.
After each singer failed to make it through the competition as solo acts, Simon Cowell and his fellow judges combined Payne, Zayn Malik, Harry Styles, Niall Horan and Louis Tomlinson into what would become one of the most successful boy bands—even though they lost the competition.
With his meteoric rise to fame, Payne had said that it took some time to adjust to the public eye.
“I don’t think you can ever deal with that, it’s all a bit crazy for us to see that people get in that sort of state of mind about us and what we do,” he said in a 2013 interview with the AP after recounting an experience where a fan was in a state of shock upon meeting him.
After the group’s dissolution, Payne—like each of his erstwhile bandmates—pursued a solo career, shifting toward EDM and hip-hop. His 2017 single “Strip That Down,” featuring Quavo, reached the Billboard Top 10, and stayed on the charts for several months. He put out an album LP1 in 2019, and his last release—a single called “Teardrops”—was released in March.
Payne had a seven-year-old son, Bear Grey Payne, with his former girlfriend, the musician Cheryl who was known as Cheryl Cole when she performed with Girls Aloud. She was an X Factor judge during One Direction’s season, although their relationship began years later. Payne was previously engaged to Maya Henry, from August 2020 to early 2022. Henry released a novel earlier this year that she said was based on their relationship. In addition to his son, he is survived by his parents, Geoff and Karen Payne, and his two older sisters, Ruth and Nicola. AP
In true family passion: ‘The Menendez Murders’
ISHOULD have titled this review “The Menendez Monsters,” but doing so I would have burdened the series created by Ryan Murphy and Ian Brennan. As it is, there is, aside from that limited series, a documentary, The Menendez Brothers, is already on the coattails of the Monster franchise.
In my mind, however, there are three Menendez epic tales: these docu and series together with the persistent coverage of Dominick Dunne via Vanity Fair in the late 1980s and 1990s. All these are crowding each other and, instead of fighting them, they have become to me what a crime of passion in the context of a family is all about. Somewhere there is a twisted sense of reality.
In Monsters: The Lyle and Erik Menendez Story, the story of the two brothers is a grim unfolding of a success story that goes down the drain. Born to wealth, in Beverly Hills no less, Lyle and Erick are two attractive persons with a father so strict and controlling and a mother who serves merely as a mouthpiece of her husband.
How did these two brothers arrive at a decision to kill their father and mother? There are flashback scenes of the father demanding from the two a life of excellence. Which is not unreasonable at all; in fact, if one looks back, the father could be unreasonable but there was a reason why. He was coming from Cuba and the new life in the United States was not only a promise but already a reality. He badly wanted his children to share in that American dream. Would this warrant a death sentence on the father and the mother?
It is obvious that if we need to understand why Lyle and Erik murdered their father and mother, there
must be something else—something evil and beyond redemption. Along the way, the two brothers slowly reveal the reason for their fear of their parents—the father first but later on, the mother’s image of a cruel guardian begins to fuse with the stern patriarch. In the series, we do not see much of these but rather through the confessions done through a shrink. The father was abusing them. In the film, the older brother was also abusing the younger one.
To a point, the narrative was transformed into a Rashomonic device, with different perspectives all at once describing the crime and the motives. The effect is a lack of commitment on the part of the writers to finally pinpoint the very reason why the crime was committed. Still, we get very compelling performances from the actors playing Dr. Oziel and the two brothers.
As Dr. Oziel, Dallas Roberts is an intense medical man, his neurosis and nervousness so contagious we fear for his life. Dominick Dunne, as portrayed by Nathan Lane, is another significant presence, his father intertwined with that of Leslie Abramson, the lawyer defending one of the brothers. Dunne’s daughter was murdered by the man for whom Abramson made the plea deal.
As Abramson, Ari Graynor became a real human being. In the Vanity Fair articles of Dunne, she was devoid of morality; in the series, she was a force of nature bordering on the fearsome caricature.
Nicholas Alexander Chavez as the older Lyle has a disturbing similarity to the real Lyle. He has a tautness that seems ready to uncoil and break always.
As Erik, Cooper Coch is a wounded soul, tremblingly sensitive and were it not for the fact that he was one of the murderers, he seemingly had the most appealing personality of the two brothers.
It is said the warm reception accorded Monsters: The Lyle and Erik Menendez Story compelled Netflix to follow up the narrative of the two brothers with a documentary no less about them and the crime that made them celebrities.
The documentary carries the title The Menendez Brothers. It is directed by Alejandro Hartmann. Convicted of the murders of their parents way back in 1989, the documentary was pieced together with
Marian Rivera’s ‘Balota’ now screening in cinemas nationwide
GMA Pictures and GMA Entertainment Group’s Balota had its nationwide theatrical release with new cuts on October 16.
One of Cinemalaya Bente’s Box Office Hits, Balota is a timely film that shines a light on the dedication of teachers to future generations and their role in safeguarding the public’s votes during elections. Starring Cinemalaya Best Actress Marian Rivera, the film is written and directed by Kip Oebanda. The satirical movie, which blends suspense, thriller and comedy, narrates the story of a landgrabbing tycoon and a former male sexy actor who are locked in a tight race for the mayoral seat of a small town. When violence erupts amid the election, Emmy (Rivera), a teacher, is found running into the wilderness with a ballot box. It is the last copy of the election results, which is the key to the election’s integrity. Together with the rest of the community, Emmy tries to outsmart and outmaneuver the goons who want the elections to fail.
The award-winning GMA actress showcased another facet of her acting prowess as she embraced her “deglamorized” character in her first-ever
independent film. Rivera said that Balota gave her another sense of fulfillment as an actor. Hindi ko mapaliwanag ’yung pakiramdam ko after kong matapos ’yung Balota. Parang palagi kong sinasabi lalo na sa asawa [Dingdong Dantes] ko na, alam mo ’yung ang tagal ko na sa showbiz pero parang bumalik ulit ’yung fulfillment ko sa sarili ko sa paggawa ng trabaho,” she said. The film also gave Rivera her first-ever Balanghay trophy from Cinemalaya—an unexpected feat she wholeheartedly dedicated to all the teachers like Teacher Emmy.
Posible pa pala. Pero higit sa award, ang regalong natanggap ko ay ang muling pagliyab ng aking pagmamahal sa paggawa ng pelikula, dahil sa inspirasyong ibinigay sa akin ng Cinemalaya community,” Rivera pens in her Instagram account after receiving her first acting award.
Joining Rivera in the film is an ensemble cast that further brings color to Emmy’s story.
Veteran actor Gardo Versoza plays Edralin, a former sexy star running for mayor who challenges the land-owning and hegemonic dynasty.
Sparkle’s new generation of actors—Will Ashley,
Raheel Bhyria, and Royce Cabrera—add color to the film through their characters Enzo, Jimbo and SPO1 Morales, respectively.
Completing the stellar cast are Nico Antonio, Donna Cariaga, Joel Saracho, Sue Prado, and Mae Paner.
Oebanda is behind the highly-acclaimed film Liway, which, after winning the Special Jury Commendation at the 2018 Cinemalaya Film Festival, earned various awards at the 2022 Filipino Arts & Cinema International (FACINE) Film Festival in San Francisco, United States, including gold recognitions for the film, direction and story. He also co-produced and directed Bar Boys.
Produced by GMA Pictures and GMA Entertainment Group, in cooperation with Cinemalaya, Balota also became an official selection for exhibition at the 44th Annual Hawai’i International Film Festival in Hawaii last October 6 and other international screening dates on October 12 at the Consolidated Theaters Kahala and October 21 at the Lanai Theater at Hale Keaka. Balota is now showing in cinemas nationwide.
Kyle and Lyle speaking through audio interviews.
Although the two admitted to the crime, the public are still torn as to the motives of the two. Were they after the wealth they were to inherit, or were they terrified of what their father and mother (she was threatening to poison them) would do to them?
A bonus in the documentary is the appearance of real people, which include the following: Pamela Bozanich, the lead prosecutor of the first trial of the Menendez brothers; Hazel Thornton, juror from the first trial and the writer of Hung Jury: The Diary of the Menendez Juror; Shelley Ross, a former ABC News TV executive; and, Robert Rand, a Miami Herald journalist who covered the trials.
Both the documentary and the series stream on Netflix. This Monster series follows another hit, Dahmer—Monster: The Jeffrey Dahmer Story. The story of Dahmer and the Menendez brothers both received mixed reviews but went on to garner hot reception from audiences worldwide, which only goes to show how we love epic tales of terrible monsters. n
Continued from B4
As part of the celebration, Virtus Awards chairman Rose Hilario-Libongco was also given an honorary award for her extensive and successful career in the hotel sales and marketing industry. She had previously worked at Sofitel Philippine Plaza, the Westin Philippine Plaza Manila, and the InterContinental Manila.
As a mentor and great inspiration to those in the industry, Libongco has been referred to as a brand unto herself, earning accolades through her creativity and innovation in staging activities,
packaging desirable hotel products complete with catchy titles, crafting challenging but achievable sales targets with incentives, and imparting a coaching style that focuses on personal motivation. Addressing the night’s winners, she said: “As you stand on this stage tonight, know that you are not just being recognized for your accomplishments; you are being celebrated for your courage to dream big and your commitment to turn those dreams into reality. You are role models for us all, showing that when we harness our talents for the greater good, we can create ripples of change that resonate far beyond ourselves.”
Congratulations to all the Virtus winners. n
PhilHealth increases dialysis coverage to P1 million per year
IN just a span of three months this year, state health insurer PhilHealth has implemented two successive increases in its benefit package for hemodialysis from P4,000 in July to P6,350/session this October, making the total financial package to almost P1 million per patient per year.
Through PhilHealth Circular No. 2024-0023 which immediately took effect on October 9, members and their qualified dependents with chronic kidney disease stage 5 (CKD5) can now avail of the adjusted package for hemodialysis from any of the accredited dialysis facilities near them.
“This is clear proof that PhilHealth is not only listening to our members. We make good on our promise to take concrete steps to ensure that our benefit packages respond adequately to the needs of patients which is a core objective of the Universal Health Care Law,” said Emmanuel R. Ledesma, Jr., PhilHealth’s President and CEO.
The PhilHealth chief pointed out that despite the increase in PhilHealth reimbursement rate of P4,000 per session last July 1, they have received reports of patients still paying significant amounts for their dialysis sessions.
“Our aim is to ensure that patients will no longer have co-payment when availing of the minimum set of services for dialysis. Ito ay para lubos na maramdaman ng mga kababayan natin ang kanilang PhilHealth benefit [This is so that our
countrymen can fully feel their PhilHealth benefit],” explained Ledesma, duly recognizing the PhilHealth Board’s swift action on their proposal. “Sa pamumuno ni Health Secretary Ted Herbosa, mabilis naaprubahan ang pagtaas sa P6,350 per session na walang dagdag-bayad sa mga pasyente [Under the leadership of Health Secretary Ted Herbosa, the increase to P6,350 per session was quickly approved with no extra charge to patients.],”
The chief also cited the cooperation of nephrologists and participating dialysis centers in making the no co-payment arrangement possible.
With the increase to P6,350 per session, a CKD5 patient is now entitled to a maximum of P990,600 in financial protection per year, from the previous P624,000/year at P4,000/session.
The circular also clearly specified the essential services required and should be provided to CKD5 patients. This includes anti-coagulation medications and drugs and medicines for the management of anemia, various laboratory tests, supplies such as dialyzers, hemodialysis solutions, and a dialysis kit per session. It also includes administrative fees for
the use of dialysis machines, facility fee, utilities, and staff time. All these services should be accessible at all times in all accredited public and private hemodialysis facilities.
Meanwhile, patients who will require additional and premium services beyond the minimum standard of care specified in the Circular shall be subject to co-payment. A cap of P450 for professional fees is also set should patients require additional services such as telemedicine and/or immediate interventions to manage complications arising during session. The state health insurer has made it a requirement for the dialysis facility to fully explain such co-payment, if any.
This life-saving service has given new hope to dialysis patients like Roseanne Lappay of Tabacalera, Pateros who welcomed this recent development at PhilHealth. Magandang balita para sa aming mga dialysis patient ang pagtaas ng dialysis package na handog ng PhilHealth [The increase in the dialysis package offered by PhilHealth is good news for our dialysis patients].”
For his part, Ledesma assures all PhilHealth members here and even those overseas, “Kapag ipinangako namin, ginagawa po namin sa PhilHealth. Kaya ang panawagan ko sa lahat ng Pilipino, huwag na po kayong matakot sa pagpapagamot dahil sagot kayo ng PhilHealth [When we promise, we deliver at PhilHealth. So my call to all Filipinos, don’t be afraid of treatment because PhilHealth is your answer.]!”
Cine Europa 27 Opens In Manila to showcase European Cinema’s Rich Tapestry
CINE Europa, now in its 27th year, is set to once again captivate Filipino audiences with a selection of 20 contemporary films from European Union Member States, Alliance Française de Manille, Goethe Institut, Instituto Cervantes, the Philippine Italian Association, and guest country Ukraine that showcase the creativity and diversity of the European cinema.
the University of San Agustin in Iloilo, the University of the Philippines Cebu and the University of St. La Salle in Bacolod from October 18 to 27, 2024.
Admission to the screenings is free on a first-come, first-served basis. For further information, please visit Cine Europa 27 Facebook page.
This year’s line-up brings together a dynamic collection of films, each offering unique stories that reflect the rich cultural tapestry of Europe.
These movies include “Souvenir” (Belgium, 2016); “Long Story Short” (Denmark, 2015); “The Other Side of Hope” (Finland, 2017); “Sun and Concrete” (Germany, 2020): “Paw” (Hungary, 2015); “She Came at Night” (Czech Republic, 2023); “Tigers” (Sweden, 2021); “La Flota de Indias” (Spain, 2021); “That They May Face the Rising Sun” (Ireland) and “This World is My Arena” (Romania, 2023).
Industry Experts Unite to Tackle Evolving Cyber Threats in Meet
AS the digital landscape evolves and cyber threats become more complex, the Cybersecurity Symposiums Philippines 2024 will serve as a crucial platform for thought leaders, security professionals, and technology innovators to discuss cutting-edge solutions in cybersecurity. This exclusive networking event will be held on November 7, 2024, Thursday from 9 am to 5 pm at Crowne Plaza Galleria, Manila. The event is managed and hosted by Asia Symposiums.
Cybersecurity Symposiums Philippines 2024 will offer deep insights into the latest trends in cybersecurity and digital crime prevention strategies. Attendees will also have the opportunity to explore a dedicated exhibition area, showcasing pioneering technologies designed to safeguard digital infrastructures globally.
Clarissa Jacob, Events Manager at Asia Symposiums, highlighted the urgency of cybersecurity awareness. “With the rise of cyber threats, businesses need to ensure that their digital transformation efforts are complemented by robust cybersecurity measures. The Cybersecurity Symposiums Philippines 2024 will provide a platform for security leaders to stay ahead of these evolving threats through knowledge-sharing and collaboration,” she said.
The event program will feature:
• Capture The Flag (CTF) Competition (9:30 am to 2:30 om): A hands-on competition where participants will tackle real-world cybersecurity challenges, from exploiting vulnerabilities to solving cryptographic puzzles.
• Exclusive CISO Networking (10 am to 12 pm): An opportunity for Chief Information Security Officers (CISOs) to connect and share strategies in a private networking environment.
• Exclusive Expert Panel Discussion (2 pm to 4 pm): Esteemed experts from various global organizations will delve into the latest cybersecurity trends,
prevention strategies, and solutions.
• Cybersecurity Workshop (3:30 pm to 5:30 pm): An interactive workshop where participants will gain practical insights into cybersecurity defenses and mitigation tactics.
The symposium will also feature pioneering technologies that are shaping the global cybersecurity paradigm. Attendees will have the chance to learn from industry leaders about the best practices and strategies needed to counteract the rising threats in the digital world. Cybersecurity Symposiums Philippines 2024 is set to provide invaluable networking opportunities for C-level executives, technology innovators, and security professionals. By bringing together some
gap between cybersecurity leaders and cutting-edge technologies, fostering a collaborative approach to digital security. To secure your seat at Cybersecurity Symposiums Philippines 2024, please visit: www.cybersecuritysymposiums.com/register For more information, please contact: +63 917 8344978; email events@asiasymposiums.com or visit www. cybersecuritysymposiums.com
Surf Introduces New & Wais Innovations to Keep Clothes Bright, Blooming Fresh
AS modern lifestyles and unpredictable weather make laundry challenging for a growing number of people, Surf, the#1 laundry Masterbrand in the Philippines, launched two new products to fight Amoy-pawis and Amoy-kulob.
but you also never have to worry about AmoyKulob thanks to the three times Sun Power Technology behind the new product formulation that leaves clothes with a fresh fragrance para sa talbog-kulob na parang pinatuyo sa araw.” Both new products add to Surf’s “sing galing, pero ‘di ‘sing mahal” philosophy that helps Filipino households wash clothes with lasting fragrance and cleanliness at the best value.
Business Performance Manager for Surf Masterbrand Raiza Revilla-Libao shared that these two new products were developed meticulously to provide the best benefits at the best value. “For 65 years, Surf has always been committed to providing Wais moms with Wais laundry solutions without having to break the bank. As Surf offers uncompromised quality at an accessible and affordable price, the Filipino moms we serve are able to reallocate their concerns to other things that matter.”
Cine Europa 27 opens to the public today, October 18, 2024 with the Polish film “Dangerous Gentlemen” at Shangri-la Plaza, Mandaluyong City. Shangri-la Plaza has graciously hosted the film festival for over two decades. The film festival is expected to travel to the University of the Cordilleras in Baguio,
The Cine Europa festival promises to deliver cinematic excellence to film enthusiasts nationwide, from poignant dramas to imaginative comedies and animations.
Also in the line-up are “Dangerous Gentlemen” (Poland, 2022); “Icarus” (Luxembourg, 2022); “Mermaids Don’t Cry” (Austria, 2022); “The Man Without Guilt” (Slovenia, 2022); “The Man with the Answers” (Cyprus, 2021); “The Strange Case of Jacky Caillou” (France, 2022); “Diabolik” (Italy, 2021); “Remember to Blink” (Lithuania, 2022); “Taste of Freedom” (Ukraine, 2024); and “Another Franko” (Ukraine, 2024).
One night only: Randy Santiago to light up stage at Winford Resort and Casino Manila
ICONIC Filipino singer, songwriter, and entertainment legend Randy Santiago is all set to light up the stage at Winford Resort and Casino Manila tomorrow, October 19, 2024.
Known for his chart-topping hits like “Hindi Magbabago” and “Babaero,” Santiago will bring his signature energy and charm to the Hippodrome Bar & Lounge for a one-night only show.
VIP seating is available for P1,250 nett, inclusive of food and drinks, or guests may earn 150 points per week between October 7 and 19 to secure a seat. Doors open at 7:30 pm.
For over three decades, Santiago has redefined the Philippine music and entertainment landscape. His career, which spans recording, television, film, and live concerts, has solidified his reputation as a trailblazer and trendsetter. From his signature dark glasses to his iconic hits, Randy Santiago remains an enduring figure in the industry.
Don’t miss this special chance to watch Mr. Private Eyes live at Winford Resort and Casino Manila. For reservations and further inquiries, please contact 0917-706-6306.
The New Surf Fabric Conditioner Fresh & Bloom boasts three times AmoyPawis Shield Technology, which protects clothes from amoy-pawis and keeps them fresh and blooming for up to 12 hours, especially during sweat-inducing activities and hot weather (versus just washing it with detergent only).
During the event program, Assistant Business Performance Manager – Surf FabCon, Marian Almendras emphasized that when it comes to laundry, using detergent isn’t enough, and applying fabric conditioner is equally important.
“With the new Surf Fabcon Fresh & Bloom, you can keep your clothes from developing that unpleasant smell caused by sweat, even after a tiring activity or particularly hot weather. That is because it is formulated with an anti-pawis shield which is a combination of a new fragrance that targets to mask the odor of sweat and melcap technology, which encapsulates that blooming fresh fragrance and is released gradually through movement or rubbing action.”
Meanwhile, the new Surf Ultra Power Liquid Sun Fresh provides three times sun power technology that protects clothes from amoy-kulob especially when they can’t hang these to dry under the sun.
“For all of us who do the laundry at home, we know that there are certain malodors that we experience via our clothes that can make the process more stressful,” shared Assistant Business Performance Manager - Surf Samantha Co. “With the new Sun Fresh variant, not only do you benefit from the doble nuot power of Surf Liquids, which refers to the two times penetration of the detergent across fabric layers para sa tanggal-mantsa
The event was hosted by TV host and momfluencer, Nikki Viola, who showed excitement with the new products. “These products ensure long-lasting freshness and fragrance with every wash, without having to worry about the different types of malodors such as amoy-pawis and amoy-kulob that moms like me face in our everyday lives.”
Surf also invited TikTok personality, Macoy Averilla aka MacoyDubs, who shared how the brand has been consistent in its promise to provide households with quality laundry products. “Lumen days palang tumatak na sakin yung ‘sing galing, pero di ‘sing mahal”. That’s why I’m aways relieved kapag yung suot kong damit madaling linisin and it can stay fragrant ano man ang ganap mo in life!” he shared.
Event attendees were also encouraged to check out interactive booths that exhibit the long-lasting fragrances that Surf can deliver. Guests created personalized fabric scents from a wide selection of floral fragrances and built bouquets using crochet flowers.
The exclusive launch event was held at Pardon My French restaurant in Makati City. Protect clothes from amoy-pawis with the new Surf Fabric Conditioner Fresh & Bloom available in 28ml and 69ml sachets, and 670ml and 1480ml pouches. Fight amoy-kulob with the new Surf Ultra Power Liquid Sun Fresh available in a 64ml sachet, and 900ml and 2.5L pouches. Both products are now available at stores near you.
Editor: Tet Andolong
Motoring BusinessMirror
HONDA UNVEILS LATEST ELECTRIFIED LINEUP
& photos
Story
by Randy S. Peregrino
HONDA’S new Global Brand Slogan, “The Power of Dreams—How We Move You,” was introduced globally at the last Japan Mobility Show (JMS) in Tokyo. Honda Motor Co., Ltd. Director, president, and Representative Toshihiro Mibe explained that it conveys the message that the dreams of everyone working at Honda have always been the brand’s driving force. Additionally, “Transcend” and “Augment” are unique Honda value propositions. Honda claims that the mobility products and services that embody its dreams will enable people to “transcend various constraints such as time and place” and to “augment their abilities and possibilities
One of the brand’s ultimate goals is to attain its commitment to becoming carbon neutral by 2050. Honda recently unveiled its latest electrified lineup for the Philippine market in line with this. These are the upcoming e:HEV model, the first Honda Battery Electric Vehicle (BEV) Motorcycles, and a new generation of power tools. These new and forthcoming models signify Honda’s commitment to carbon neutrality in the Philippines. Moreover, Honda is reaffirming its commitment to expanding its electric vehicle portfolio. The “Honda 0 Series” will spearhead the automotive division’s efforts with a target global launch year 2026. The “Honda 0 Series” will eventually grow into a comprehensive and diversified range of vehicles that will suit various needs.
Honda’s Electrification Journey: Mission Possible NO less than Honda Motor Co., Ltd. vice president and Head of Regional Operations (Asia & Oceania) and Asian Honda Motor Co., Ltd. president and CEO Toshio Kuwahara spearheaded the program and presented the brand’s electrification roadmap for the Philippines. “All these new products are just the beginning of Honda’s journey to giving the community a safer, greener, and sustainable future. Driven by a clear vision, we seek to achieve carbon neutrality
across our entire product lineup and corporate activities by 2050.
We are also striving for zero traffic collision fatalities involving Honda motorcycles and automobiles globally by 2050,” he said.
Battery-powered and Handheld tools
ASIDE from mobility products, Honda also manufactures power tools. Initially presented was the new range of direct-current handheld (DCHH) batterypowered products for personal and professional use. These new products offer convenience and comfort due to their lightweight, portability, easy operation, and lower noise output. The Leaf blower effortlessly
clears leaves from lawns and driveways on wet or dry surfaces, while the Hedge Trimmer prunes, clears, and trims shrubs, hedges, and bushes. The Lawn Trimmer, in contrast, possesses standout features for trimming, weed removal, grass mowing, and grass trimming. The Chainsaw is also available for clearing storm damage, cutting dead tree branches, and pruning fruit trees.
Honda’s latest range of inventive direct current handheld products utilizes a universal battery system, allowing easy battery swap and recharge whenever needed. The reduced noise output and low vibration make these tools suitable for residential, hotels, condominiums, and small and
medium-sized gardens. Users will also benefit from its zero-emission technology and low-maintenance features applicable to both internal and external parts of any facility. Moreover, no frequent periodic maintenance is required.
Two-wheel and all-electric FOR Honda Philippines, Inc. (HPI), the future is here as it unveiled its first two-wheeled Battery Electric Vehicle (BEV)—the All-new EM1 e, powered by a Honda Mobile Power Pack e (installed highquality lithium-ion battery). It has an off-board charger designed for convenient home charging.
Honda also takes pride in its seal of global safety standards, UN R136 compliant (international safety standard).
Spec-wise, this all-electric motorcycle is propelled by a Honda Brushless Electric Motor.
It has a front disc brake and twin suspension setup. Other features include riding in Standard and eco modes, an LCD Digital Display, and an all-LED lighting system. This radical transition is stimulated by a robust yet cost-efficient model that can quickly charge at home to support daily mobility needs.
Compact, carbon-neutral, and eco-friendly, this first-ever electric vehicle from Honda Philippines is installed with the best technology, geared towards its strong direction to safety and advocacy for Transforming the Future.
HPI president Sayaka Arai
shared, “Our commitment to expanding the joy of mobility and comfort to every Filipino has always been at the forefront of everything we do. We at Honda Philippines are excited about the potential of these innovative products to contribute to a clean and empowered future for Filipino families. Together, let’s ride with smooth energy and transform a greener and sustainable future with Honda.”
The electrification of an icon HONDA Cars Philippines, Inc. (HCPI) has expanded its hybrid electric vehicle range by previewing the New Honda Civic RS e:HEV. This model will make its Philippine debut at the upcoming Philippine International Motor Show.
The New Honda Civic RS e:HEV represents the next chapter of HCPI by further expanding its hybrid electric vehicle lineup. Designwise, some exterior elements are different from the current local model. While the specifications have not been revealed, one thing is certain: It shares the same hybrid system as the current CR-V e:HEV model. It also boasts the latest generation of Honda CONNECT, now with more features that allow users to interact with the vehicle via a smartphone app. Google Automotive Services is also new to the Honda Civic, allowing for more personalization and letting its owners add more useful and relevant applications to their everyday lives. Honda SENSING has also been given a significant update for enhanced detection for all road users.
“The New Honda Civic RS e:HEV truly blends performance and efficiency with features that reinforce Honda in the field of leading-edge technologies in connectivity and safety. It has the power to give its driver confidence in every journey with less environmental impact. We are excited to introduce this new model, which Drives like a Dream, will give Filipino customers greater options when choosing an electrified vehicle in the Philippines. This, along with several more upcoming models, is set to strengthen further Honda’s x:EV portfolio in the country, said Rie Miyake, president of Honda Cars Philippines, Inc.
Lexus life shift; Toyota’s dismantler vision
IT is not all engine, chassis and torque in the world of motoring. So, for a change, Lexus has come up with something that touches the heart, the mind, the soul. This month, Lexus welcomes you to an inspiring series of workshops in celebration of World Sustainability Day. The luxury leader wants you to join them on October 19-20 for hands-on sessions with local artisans, where you’ll learn about traditional crafts with a focus on mindful practices and creative renewal. From the delicate art of bonsai to
kintsugi and jewelry making, each workshop offers an opportunity to explore how small, intentional acts can bring beauty and meaning into everyday life—values that endear to Lexus. The Bonsai Workshop will be conducted by Lito “Boy” Pangilinan, a renowned figure in the Philippine Bonsai Community. The session will cover the history, techniques and care involved in creating and maintaining bonsai.
Joaquin Francisco Guevara, Jade Sison-Mendoza’s reliable writer, says: “Lexus wants you to craft your own custom metal jewelry piece, such as a bangle or ring from Metals and Gems Jewelry Studio who will conduct an Artisan Jewelry Crafting workshop on how to transform repurposed metals into unique, handcrafted pieces while incorporating ecofriendly practices.” Transform broken pottery pieces
into gleaming works of art in the Art of Kintsugi workshop with Wabi Sabi. Learn the Japanese art of Kintsugi and experience repairing pottery with gold to highlight its cracks.
Guests can also indulge in Lexus’ omotenashi values by joining the coffee workshop by Satori Coffee as it showcases a series of coffee recipes you can recreate at home.
Participants will learn simple yet impactful adjustments to coffee preparation such as adding fruits and plant-based alternatives while selecting coffee blends to create unique and sustainable coffee profiles.
Customers can also enjoy an exquisitely curated selection of bites from the exclusive Lexus x Key Coffee menu which includes wagyu sliders, garlic bacon pizza, miso chocolate chip cookies and sakura fizz.
Register at https://brnw. ch/21wNFCI to be part of World Sustainability Day. Spend the
weekend in Lexus at Mitsukoshi BGC Taguig to witness the drive towards a sustainable future through the workshops.
To learn more, visit the Lexus website at lexus.com.ph or visit our social media pages on Facebook and Instagram @lexusphilippines
Toyota & En Tsumugi
HERE is a report from Mark Luigi
Bautista, Mixie Flavier’s latest recruit at Toyota Motor Philippines’ (TMP) marketing division headed by Elvin
“The Big E” Luciano:
“Automotive leader Toyota has endorsed En Tsumugi ELV Dismantler Corporation as a model End-of-Life Vehicle (ELV) dismantling facility, the first of its kind in the country, located in Mexico, Pampanga.
“A wholly-owned venture of the Hung family, the owner of local metal recycling companies Supreme Mile Trading Corp. (SMTC) and CoroCrown
Corporation, En Tsumugi is a result of a pilot project led by Japanese ELV dismantler Tsuruoka Co., Ltd. and financially supported by Japan International Cooperation Agency (JICA). Several Japanese businesses, including Toyota Motor Corporation (Toyota) and Mitsui & Co., Ltd., provided business development and technical assistance.
“Through TMP, Toyota’s involvement in the project includes providing technical support in various areas, such as environmental compliance, facility design, dismantling methodology, equipment requirement and hazardous waste management.
“‘The establishment of a local ELV dismantler aligns with the goals of the ‘Toyota Global 100 Dismantlers Project,’ which aims to establish a network of proper ELV dismantling facilities worldwide,’ said TMP President Masando Hashimoto
during the inauguration ceremony of En Tsumugi.
“The project seeks to address the environmental challenges posed by ELVs, such as pollution and resource depletion, by
“En
two-wheeled Battery Electric Vehicle (BEV) All-new EM1 e: powered by Honda Mobile Power Pack e:
(FROM left) HCPI senior vice president Atty. Louie Soriano, HCPI president Rie Miyake, Asian Honda Motor Co., Ltd. president and CEO Toshio Kuwahara, HPI president Sayaka Arai, and HPI vice president Jomel Jerezo
Daniella Uy: Queen of Murcia
stayed focused.”
Despite the pressure, Uy said the excitement of the close battle kept her motivated.
“There was pressure, but it felt more like excitement since it was such a tight match,” she said. “It gave me confidence to hit the pin and sink those birdies.”
It was Uy’s fifth career title—a follow-up to her breakthrough victory in 2021 and a trio of triumphs last year—matching Avaricio’s three-leg win in 2022 before both embarked on international campaigns.
Princess Superal stormed back with a solid 67 to claim third place at 208 for P65,000, while Velinda Castil and Jiwon Lee tied for fourth at 213.
Castil shot a 72 and Lee struggled with a 74 in the penultimate leg of the 10-stage Ladies Philippine Golf Tour presented by Negros Electric and Power Corp.
P82,000.
“It was a roller-coaster round,” Uy said. “I bogeyed the first but bounced back with birdies. I also had several missed birdie chances, but I
Sarah Ababa, fresh off her win in Iloilo, stayed within striking distance despite a shaky front nine, but a triple bogey in the par-three 10th derailed her campaign and ended tied for sixth at 214 with Chihiro Ikeda and Florence Bisera, who shot
TSHE head of the Asian federation for mixed martial arts (MMA) gave an imprimatur of approval to the country’s successful hosting of the Manila Open—the inaugural Asian MMA championships that wound up on Wednesday night at Mariott Manila in Pasay City.
“Is it through your commitment that we’re able to deliver such a remarkable successful event,” Asian MMA Association (AMMA) president Gordon Tang told Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino during the thanksgiving dinner for the three-day event that featured the best amateur MMA fighters in Asia.
“I would like to congratulate all the athletes, coaches, referees and hardworking staff as we are excited about the ongoing development of MMA in Asia and beyond,” added Tang, also vice president of the Olympic Council of Asia who expressed gratitude to the 9 Dynasty Group for hosting the event.
“We offer our heartfelt thanks to NMMAPP president Abraham Tolentino and secretary-general Alvin Aguilar and to the 9 Dynasty Group for the unwavering support,” added the business magnate Tang, who also heads the Cambodia sailing association.
Tolentino heads the newly-formed Nasyonal MMA Pederasyon ng Pilipinas (NMMAPP), which carries the moniker Pilipinas MMA, the governing body for amateur MMA sport in the country.
“We are very thankful to our Asian counterparts, especially Mr. Gordon Tang, for supporting the new amateur MMA sport and for bringing the event here in Manila,” Tolentino said.
“There are some fine-tuning to do on rules on safety but sooner than soon, guarantees will be in place.”
“It’s a first of many and we’re excited for the next one,” Aguilar said.
“The AMMA, Mr. Gordon Tang and the other countries are extremely happy on our hosting.”
Tolentino and Aguilar thanked Derries Wong and his 9 Dynasty Group for supporting the Manila Open.
Tajikistan emerged as the inaugural overall champion of the Asian championships with four gold and two silver medals, followed by Kazakhstan with a 3-2-1 gold-silver-bronze harvest and China with 2-1-0.
A big field of 88 MMA athletes from 13 counties competed in the Manila Open.
Amateur MMA is included in the program of the Asian Indoor and Martial Arts Games which Saudi Arabia is hosting next year.
70 and 73, respectively.
BGCC Finance Manager Cara Golez made waves by claiming low amateur honors with a 229 after a 77 for a 19th overall finish.
The head-to-head duel between Uy and Avaricio highlighted the tournament as one of the most intense finishes ever seen on the Pilipinas Golf Tournaments Inc.-organized tour.
The decisive moment came in the 16th hole where Uy sank a crucial birdie putt to regain the lead after her earlier misstep on the 15th.
Avaricio couldn’t answer back and despite her best efforts, her bogey in the final hole cemented Uy’s triumph.
“This win means a lot to me. It will definitely boost my confidence as I head back to the Taiwan tour,” said Uy, whose eagle-spiked secondround 65 had tied her with Avaricio, who fired a tournament-best, bogeyfree 63 to set up their thrilling finalround showdown.
DANIELLA UY pulls off dramatic two-shot victory in the Bacolod Golf Challenge. BERNARD TESTA
ENATE President Pro Tempore
Jinggoy Ejercito Estrada filed a resolution seeking to commend 16-year-old Tachiana Kezhia Mangin for ending the Philippines’ 28-year drought for a gold medal at the World Taekwondo Junior Championships. Mangin won the women’s -49kg category in the championships’ 2024 edition recently in Chuncheon, South Korea, for the country’s first world junior gold medal since Alex Borromeo won in the men’s -47 class in the inaugural edition in 1996 in Barcelona.
“She deserves commendation from the Senate for putting the country back on the taekwondo map and for exemplifying positive values of unwavering resilience and commitment to excellence at such
REYMON JARAULA delivered a virtuoso performance on moving day in the International Container Terminal Services Inc. (ICTSI) Bacolod Golf Challenge in Murcia on Thursday to grab a threestroke lead with one round to play.
A pair of three-birdie streaks on both nines of the Bacolod Golf and Country Club catapulted Jaraula over Jhonnel Ababa atop the leaderboard at 14-under 196.
Jaraula’s 63 was nothing short of brilliant as he separated himself from a field stacked with seasoned veterans and rising stars who struggled to maintain their early momentum.
Jaraula’s steady hand and ability to seize opportunities proved decisive while his rivals practically groped for form.
“Everything clicked—driving, irons, even putting,” Jaraula said. His impeccable performance in hitting all fairways and executing superb iron shots set up numerous birdie opportunities. He capitalized on six of these, with pinpoint precision inside five feet.
Ababa, hoping to redeem himself after a disappointing final round in Iloilo last week, mounted a respectable fightback with a 66, including a birdie on the closing par-three hole, to grab solo second at 199, while Hyun Ho Rho fired a 67 for third at 200.
But Jaraula’s brilliance was simply unmatched with the rest of the field playing catch-up entering the final 18 holes of the P2.5 million championship presented by Negros Electric and Power Corp. and organized by Pilipinas Golf Tournaments Inc.
As erstwhile joint leaders Angelo Que, Aidric Chan and Rico Depilo found themselves falling out of contention after
a young age,” said Estrada in his Senate Resolution No. 1210.
“Mangin brought great pride and honor to the nation with her momentous victory. Her impressive accomplishment embodies the immense potential of the new generation of Filipino athletes, and heralds the bright future for the Philippines,” he added.
The Grade 12 senior high school student at University of Santo Tomas (UST) beat Judith Cordoba Heredia of Spain and Natkamon Wassna of Thailand to secure a spot in the quarter-finals, where she dominated against Habiba Wael Emerah of Egypt.
She reached the final after Lamprini Anna Asimaki of Greece withdrew from the semifinals because of injury and secured the historic gold medal against hometown favorite Kim Hyang-Gi.
Mangin also clinched the gold medal at the Daegu 2024 World University Festival last July, bronze at the 2019 World Cadet Championships and two more bronze medals at the Asian championships in the 2019 cadets and 2022 youth divisions.
By Josef Ramos
HB8 Friday, OctOBer 18, 2024 mirror_sports@yahoo.com.ph
Editor: Jun Lomibao
struggling in the back nine, Jaraula’s ability to stay consistent and avoid costly mistakes stood out even more.
Jaraula highlighted his spectacular 32-31 round with a chip-in birdie on the par-four No. 11, a masterful moment that punctuated his bogeyfree card.
His tenacity was also evident on the par-three 10th where he scrambled to save par with a clutch six-foot putt.
Despite holding a three-stroke advantage, the 32-year-old ace from Bukidnon remained grounded, choosing to temper expectations as he eyes a potential third career victory and P440,000 purse.
“Just stay focus and if it’s meant for me, then great,” said Jaraula, who roared to a five-stroke victory at Valley in 2023, a reminder of his ability to handle pressure and finish strong.
RYUKYU leaned on a dizzying second-quarter scoring spree to foil Meralco, 77-74, in the East Asia Super League Season 2 on Wednesday night at the Okinawa Arena in Japan. The Golden Kings, last year’s Japan B. League runners-up, scored 28 points during that stretch behind the threepoint shooting of Yoshiya Uematsu, Masahiro Waki, Yoshiyuki Matsuwaki and Ryuichi Kishimoto, and the inside presence of import Victor Law and naturalized player Alex Kirk. The show of force shoved the Japanese side to a 51-35 lead, enough cushion to hold off the Bolts and score the satisfying victory before their home fans. Law, a former Orlando Magic, finished with a double-double of 18 points and 12 rebounds, while fellow import Jack Cooley also had 18 points with seven boards and Kirk added 12 to deal the Bolts their first loss in the home-and-away league.
Uematsu and Matsuwaki
PHILIPPINE Olympic Committee president Abraham
“Bambol” Tolentino (left) with Asian Mixed Martial Arts Association head Gordon Tang during the thanksgiving dinner for the
REYMON JARAULA and his caddie get meticulous about this putt. BERNARD TESTA
