Cayetano responds to speculations on Sara Duterte’s cryptic Instagram post
House Speaker Alan Cayetano. (Senate)
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HOUSE SPEAKER Alan Peter Cayetano responded to speculations that he could be the one being pertained to by Davao City Mayor Sara Duterte-Carpio on her Instagram post amid the mishaps on the Philippines’ hosting of the 30th Southeast Asian Games. In an interview by CNN Philippines, Cayetano said he does not have
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an Instagram account, although reports about the presidential daughter’s thoughts have already circulated online. “I don’t have Instagram,” Cayetano simply responded when he was asked about Duterte-Carpio’s online remarks. News outlets such as The Manila Times and Tribune ran an article about
Duterte-Carpio’s post, as well as social news blog Politiko. In her Instagram post on November 24, she wrote: “I told you so’ is a sure-fire way to kick-start an argument. In the same way, ‘you do not listen’ will ignite a conversation into a heated one. May I just say to everyone in Congress, ‘I told you but you did not listen so there you
go.” While Duterte-Carpio never mentioned any names in her post, speculations arose that she appeared to have alluded to Cayetano given her history with him on the House speakership issue and his involvement on the SEA Games. When she shared the post on that particular Continue on page 7
Mayor Sarah Duterte. (Instagram)
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Sabah to repatriate Filipino refugees
The heirs of the Sultanate of Sulu - Sultans Ibrahim Bahjin, Muizuddin Jainal Bahjin, Muedzul-Lail Kiram, Mohammad Venizar Julkarnain Jainal Abirin and Phugdalun Kiram - continue to exert strong influence in the Sulu Archipelago after they signed a covenant in 2016 aimed at consolidating and strengthening their unity and formed the Royal Council of the Sulu Sultanate. Sulu Governor Sakur Tan, who is a key figure in the unification of the sultans, said the signing of the covenant was unprecedented and historical, and will further strengthen the unity of all heirs to the Sultanate of Sulu. Tan, a respected and influential READ STORY ON PAGE 3 Muslim leader in the South, is also the Special Envoy of the Royal Council of the Sulu Sultanate. (Mindanao Examiner)
Rescue ops for 3 Indon hostages launch SECURITY FORCES launched a massive operation in the southern island of Sulu to find and rescue 3 Indonesian
fishermen kidnapped in September by Abu Sayyaf terrorists off Sabah in Malaysia. The Abu Sayyaf de-
manded the Indonesian government to pay P30 million in exchange for the hostages Maharudin Continue on page 7
Why is the Philippines so focused on coal? ALTHOUGH FOSSIL fuels are the single biggest source of greenhouse gas
(GHG) emissions, coal continues to be supported by both the government
and businesses in the Philippines. Continue on page 2
A photo released by the 11th Infantry Division shows British man Allan Arthur and his Filipina wife Welma Hyrons with Major General Corleto Vinluan during their breakfast November 25, 2019 at a military base in Jolo town in Sulu province. On the right is Indonesian Consul General Dicky Fabrian.
Sahod ng gov’t nurses itataas na? HUWAG LANG matabunan sa bicameral conference committee, mailalabas na sa susunod na taon ang umento sa mga government nurses. Ito ay makaraang naipasok sa Senate version ng P4.1-trilyong 2020 national budget ang ipinaglaban ni Senador Panfilo Lacson
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na alokasyon para rito. Sa ilalim ng probisyon sa Senate version ng pambansang badyet na “Increasing the Salary Grade of Government Nurses,” magiging Salary Grade 15 (P30,531) ang buwanang base pay ng government nurses, sang-ayon sa utos ng Korte Suprema. “The implementation
of the salary adjustment shall take effect when the decision of the Supreme Court had become final and executory, but not earlier than the start of Fiscal Year 2020,” saad sa probisyon. Isiniwalat ni Lacson sa kanyang interpelasyon sa 2020 budget ng Continue on page 3
Eastern Mindanao
Library photos (see other picture on Page 2) from the ‘Renewable Energy in Zamboanga City NOW’ shows environmentalists protesting the proposed coal-fired power plant in the village of Talisayan in Zamboanga City. (Ted Nace)
Western Mindanao
Cebu
Manila
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December 2-8, 2019
Why is the Philippines so focused on coal? Continued from page 1 While it is the cheapest fuel option, coal is also the most polluting one. With cleaner alternatives such as hydropower, solar, and wind energy readily available and decreasing in price, coal is no longer the safe, long-term investment it once was. But burdened by the high cost of electricity, regular power interruptions and an unreliable transmission system, coal remains a viable energy option for the Philippines – especially with the subsidies, financial incentives and other forms of support that the industry enjoys Coal is the country’s dominant energy source with a 52 percent share in gross power generation as of December 2018, followed by renewable energy sources (geothermal, hydro, solar, and wind) with 22 percent and natural gas at 21 percent. Plans by the Department of Energy to ramp up coal production from 23 million metric tons (MMMT) from 2017-2018 to a staggering 282 MMMT from 2023-2040 as stated in its Coal Roadmap 20172040 flies in the face of the country’s ratification of the Paris Agreement, in which it committed to a 70 percent reduction in emissions by 2030. While President Rodrigo Duterte used his State of the Nation Address in July to call for the fast-track of renewable energy development and a reduction in the dependence on traditional energy sources “such as coal”, he inaugurated a new coal-fired power plant last month – and there are plans for more such new developments. More coal-fired power plants The Philippines imports 75 percent of its coal supply – most of it from Indonesia and Australia – exposing the country’s electricity system to political unrest, price volatility and the risk of unfavourable foreign exchange rates. This has made local coal-fired power plants an attractive proposition for power companies, and a recent report by environmental group Greenpeace detailed how five of the country’s biggest energy companies plan to increase their coal portfolios in the next two to six years from the current 14,579 megawatts (MW) to a proposed 21,836 MW. Because they account for more than half of the current and proposed power projects in the country, Greenpeace argues that these companies’ actions will be crucial
in determining whether the Philippines can comply with the low-carbon development path needed to address the global climate crisis. “While the rest of the world is moving away from fossil fuels and shifting to clean renewable energy, the Philippines is moving in the opposite direction, largely because of procoal government policies that allow energy companies to keep building coal facilities despite their documented negative impacts on the climate, the environment and communities,” said Khevin Yu, a campaigner at Greenpeace Philippines. A previous report by Greenpeace estimated that coal plant emissions could kill up to 2,400 Filipinos per year due to stroke, heart disease and other cardiovascular and respiratory diseases, and the Filipino public is fighting back against the construction of new coal-fired power plants. Unhappy public In September, the Power for People Coalition (P4P) led environmentalists, residents of coal-affected communities, church groups, and other stakeholders in holding massive protests in the Philippines – with thousands descending on Mendiola Street in front of the Malacanang to demand a moratorium on new coal plants. In June, research institute Center for Energy, Ecology and Development (CEED) called on Filipino legislators to reduce the country’s coal consumption due to its harmful effects on the environment. Back in March, groups representing the country’s Catholic Church and other NGOs urged financial institutions to divest their investments in coal-fired
plants and focus on renewable energy instead. Crucially, organisations such as the P4P and CEED have asked Duterte to issue an executive order for a moratorium on new coal-fired power plants, an audit on existing ones and a clear policy to accelerate the country’s transition to renewable energy. “We pay for coal with our money, our health, our environment, and our future. In return, we get unreliable energy and fat profits for owners of power companies. We want things to change, and we want it to change now,” said P4P Convenor Gerry Arances, who is also CEED’s Executive Director. SRPI In Zamboanga City in Mindanao, the Alsons Power Holdings through San Ramon Power, Inc. (SRPI) is supposed to begin construction of a 100-megawatt coal-fired power plant which was to begin operation in 2016 in Talisayan village. But Alsons failed to start building its facility, citing many reasons for the long delay — from the failed Moro rebellion in 2013 to the P900-million enhancement program it was demanding from the local electric cooperative as an assurance it could pay them for the stable supply of electricity. And environmentalists are also monitoring the proposed coal-fired power plant and they urged the Zamboanga City Council to revoke its permission for SRPI to build the power plant, saying, it will only cause pollution and damage the clean environment and pose health hazards not only to humans, but animals as well. (Jason Thomas – The ASEAN Post. With additional reporting from the Mindanao Examiner.)
December 2-8, 2019
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Sabah to repatriate Filipino refugees
S
ABAH MAY deport thousands of Filipino refugees after Malaysian lawmakers pressed Deputy Home Minister Azis Jamman to repatriate IMM13 card holders to the Philippines. Malaysia has also re- foreign children born in should prioritise Malayfused to recognize the Sabah for record purposes sia’s sovereignty. “Nobody birth right of children of and to monitor their pres- should come and stay in Filipino refugees despite ence, but they were not Sabah and then later give being born there and considered citizens. all sorts of excuses not to holder of birth certificate. “Sabah has a lot of leave,” he said. Malaysian media report- documents like IMM13 Many holders of the ed that Jamman stressed and Sijil Burung-Burung IMM13 document origthese children are only (state-issued documents). inally came to Sabah as given IMM13 - a visit pass So we want to see how refugees fleeing the civissued by the Immigration to manage all these doc- il unrest in the southern Department to Filipino uments,” Free Malaysia Philippines in the 1970s. refugees who escaped to Today quoted Jamman as Jamman said that Sabah following unrest saying. “If they are born many of these refugees, in Mindanao during the in Sabah, they are given who are mostly second Marcos administration in birth certificates, but this and third-generation dethe 1970s. does not make them citi- scendants, had no more IMM13 holders are zens,” he added. family ties in the Philipallowed only to stay in SaThe Malaysian Insight pines and preferred to rebah and Labuan, but they also quoted Jamman as main in Sabah where they can seek employment, at- saying that IMM13 pass had been since birth. tend school and get medi- holders registered with Parti Solidariti Tanah cal services from the gov- the Immigration Depart- Airku leader Jeffrey Kiternment. ment form only a fraction ingan said Malaysia and Jamman said these of the true migrant pop- the Philippines have a children are not consid- ulation in Sabah. He said duty to settle the issue. ered Malaysians although the number of migrants is “Refugees normally come they have been issued likely larger than report- under UNHCR (United birth certificates. But birth ed due to the issuance of Nations High Commiscertificates issued to these fake papers by illegal syn- sioner for Refugees is a children are different from dicates and pointed out United Nations), and their Malaysian citizens – they the problem has become repatriation should also are all with distinctive red “chronic”. be discussed with the UN color. Former Petagas As- agency,” he said. Last year, the Sabah semblyman James LigunKitingan said the PhilImmigration Department jang said the internation- ippines consulate had suspended a program to al community would not also come to Sabah to accept new applications tolerate any refusal by the provide consular service, for IMM13 from children Philippines to accept its including the provision of of other IMM13 holders, own citizens back into the passports and other docualthough in 2014, the Sa- country. ments. “Understandably, bah National Registration Parti Gagasan Rakyat there may be children or Department said birth Sabah adviser Francis grandchildren of IMM13 certificates were issued to Goh also said Jamman holders who prefer to
stay in Sabah, but that is not the issue. The issue is IMM13 holders or refugees. The same applies to holders of the Kad Burung-Burung and census cards,” he said. Many Sabah leaders have been urging the government to repatriate the 1MM13 holders, saying the unrest in the southern Philippines has ended. There are an estimated 600,000 migrants in Sabah, including dependents or families of the original IMM13, Kad Burung-Burung and census card holders. Passes Sabah is also to issue a temporary pass for foreigners travelling to the rich-Malaysian state in an effort to monitor the movements of outsiders
in the territory, according to Chief Minister Datuk Seri Mohd Shafie Apdal, who said the issuance of temporary pass is also to ensure that no one could falsify the document. Sabah has about 500,000 foreigners, mostly working in plantations. Apdal said the Sabah Temporary Pass will be issued to foreigners starting next June. “We are issuing the Sabah Temporary Pass to ensure that those (foreigners) who work in the plantations and in certain places can be monitored by the Home Affairs Ministry and the Immigration Department. Sabah has close to 500,000 foreigners in Sabah, so it is better for us to monitor them than not to know where they
are,” he said in a report by Bernama. Apdal said there is also a necessity to discuss the system to the Philippine government since many illegal Filipinos working in Sabah had been deported. The discussion, he said, is to ensure that Filipinos who had been deported should have valid travel documents if they wanted to return to Sabah. He said even the deployment of Indonesian workers to Sabah should also be carefully managed to avoid a labor shortage since the relocation of Indonesia’s capital to East Kalimantan would attract its citizens there. (Jason Santos – Free Malaysia Today. With additional reports from the Zamboanga Post and Mindanao Examiner.)
Sahod ng gov’t nurses itataas na? Continued from page 1 Department of Health noong Nobyembre 19 ang pangangailangan ng P3.173 bilyon para sa bagong salary grade ng government nurses. Ayon kay Lacson, ang kakailanganing pondo para maipatupad ang utos ng Korte Suprema ay manggagaling sa inilaang pondo para sa staffing modifications at upgrading of salaries. “We can introduce
a special provision and source the P3B from the P12.469B under that particular item (Miscellaneous Personnel Benefit Fund). They don’t have to wait six months or another year. By January once we enact the GAA for 2020, ang salary upgrade nila is taken care of,” ani Lacson. Ngunit sa kabila nito, malabo naman ang kinabukasan ng mga nurses na nagta-trabaho sa mga pribadong ospital dahil
mababa pa rin ang kanilang sweldo at mahaba ang oras ng duty. At mas matindi sa mga lalawigan at lungsod sa Mindanao, at sa iba pang bahagi ng bansa dahil 12 oras ang trabaho ng mga nurses at karamihan umano ay katumbas lamang ng 8 oras ang kanilang sahod. Sa mga government hospitals naman ay palakasan rin bago makapasok ang isang nurse. (Mindanao Examiner)
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December 2-8, 2019
Sulu Pictures in the News
Photos from the Office of the Provincial Governor
Sulu Governor Abdusakur M. Tan hands over financial assistance to JCI-Jolo for the upcoming 41st Boys and Girls Week Celebration on December 2-8, 2019. The activity is a flagship program of JCI-Jolo that provides development opportunities to empower young people through various competitions such as academics, sports, cultural and other competitive events. The activities involve young leaders, athletes and contestants from the different secondary schools in the Division of Sulu.
Visitors from the Department of Tourism led by Romano Del Rosario and Roderick Gonzales along with Provincial Tourism Officer Jainab Abdulmajid pay their courtesy call to Sulu Governor Abdusakur M. Tan at his office in Patikul town.
Governor Abdusakur M. Tan pays a courtesy visit to Professional Regulation Commission Chairman Teofilo S. Pilando Jr. in Manila. Governor Tan made representation to bring back the conduct of Licensure Examination for Teachers in Sulu.
Mayor Shihla Hayudini joins RHU-Maimbung in the “Sabayang patak kontra Polio” as she led the oral vaccination this morning done simultaneously in the 27 Barangays.
Sulu Governor Abdusakur M. Tan spearheads the celebration of the Sulu Provincial Athletic Association Meet 2019 held at the Sulu Sports Complex with the theme, “One Sulu, United through Camaraderie and Sportsmanship”. LCEs from different municipalities, SPS board members, teachers, coaches, athletes, and guests were also at hand to celebrate this year’s annual event in which young students athletes are given opportunities to excell in their field of sports and at the same time, foster friendship through the spirit of unity and brotherhood.
Sulu Governor Abdusakur M. Tan with the Sulu Relief Team that brought aid to earthquake victims in North Cotabato and Davao Del Sur. The Sulu Relief Team is composed of employees from the different departments of the provincial government.
Schools Division Superintendent, Kiram K. Irilis Ph D receives P1 million financial assistance from Sulu Governor Abdusakur M. Tan for the holding of the Sulu Provincial Athletic Association Meet 2019.
Maimbung Mayor Shihla Hayudini is guest speaker during the opening program of the annual palaro and founding anniversary of Maimbung Technical Vocational High School.
December 2-8, 2019
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December 2-8, 2019
Across : 1. Use a broom 6. Quiet! 9. Foldaway bed 12. Florida seaport 13. Cow’s cry 14. Cigar residue 15. Mediate 17. Hockey surface 18. Pains 19. Nest eggs (abbr.) 20. Atop, poetically 22. President ___ Roosevelt 25. Deny 28. Hewing tool 29. Fragrances 30. Spring, e.g. 34. Fall mo. 35. Mad 36. Sport with webbed rackets 40. Limb 41. Bait 42. Dandy’s neckwear 45. Had a meal 46. Bruce Springsteen, e.g. 50. Bossy Stooge 51. Wayside hotel 52. Craze 53. Egyptian cobra 54. Acquired 55. Slumbered
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Rescue ops for 3 Indon hostages launch Continued from page 1 Lunani, 48, and his son Muhammad Farhan, 27; and crew member Samiun Maneu, 27. The trio also appeared in a video posted on Facebook showing them appealing to Indonesian President Joko Widodo to secure their safe release. “We were caught by the Abu Sayyaf Group on September 24, 2019. We ask the Indonesian president to help free us. The ASG (Abu Sayyaf group) has demanded 30 million pesos in ransom,” said Maneu. The victims were seized by masked gunmen off Lahad Datu town in Sabah, just several hours by boat from the Philippine border province of Tawi-Tawi in the restive Muslim autonomous region. Sabah Police Commissioner Datuk Omar Mammah has confirmed the
reports. He said Filipino authorities also confirmed the ransom demand for the trio, saying, the kidnappers also phoned one of the victim’s families to relay their demand. Army Major Arvin Encinas, a spokesman for the Western Mindanao Command, said troops were doing their best to rescue the hostages. He also quoted military commander, Lieutenant General Cirilito Sobejana, as telling Indonesian Consulate General Dicky Fabrian, that the “military is doing its best to rescue their fishermen. Our efforts are continuing.” Last week, Special Forces soldiers and an elite Marine unit rescued a kidnapped British man and his Filipina wife following a clash with the pro-ISIS terror group, Abu Sayyaf, in Sulu’s Parang town.
The soldiers managed to rescue Allan Arthur Hyrons, 70; and Welma Paglinawan on Mount Piahan in Parang town after militants abandoned the duo and escaping a massive military operations. “A gunfight ensued and lasted about 10 minutes after which the bandits broke up and ran away in different directions, leaving the Hyrons at the site of the encounter on Mount Piahan in Parang town.” “Naiwan ‘yung dalawa (ng hostages), hindi na nila kayang dalahin, so they scampered away to different directions. Pero tuloy-tuloy pa rin ang hot pursuit natin, nandoon pa rin ‘yung ating tropa, on the ground,” said Sobejana. The couple was brought to a military base in the capital town of Jolo
where they had undergone a medical examination. Major General Corleto Vinluan, commander of the 11th Infantry Division in Sulu, said troops managed to drive the Abu Sayyaf fighters to an area and constricted their movements, forcing the militants to break up and eventually left behind their hostages after a 20-minute gun battle. “The abductors were driven to a designated constriction area through the collective efforts of operationally-controlled units of the 11th Infantry Division as the concurrent integrator of AFP operations in Sulu.” “Our troops were able to close in on the Abu Sayyaf group and engaged them in a 20-minute firefight. Overwhelmed by our forces, they withdrew from the site, allowing our sol-
diers to rescue the couple. Our unrelenting efforts to flush out there terrorists allowed our troops to pinpoint the location of the enemies and finally free the kidnapped victims,” Vinluan said, adding, there were no reports of casualties on both sides. The rescue of the Hyrons occurred 3 days after troops killed 5 militants and wounded four others in a firefight in the towns of Patikul and Indanan. Among those who perished was Sibih Pisih, an Abu Sayyaf sub-leader under Radulan Sahiron. Pisih was being linked by the military to cross-border kidnappings in Sabah and Tawi-Tawi province. He was also implicated in the mass murder of nearly 2 dozen civilians in Talipao town in 2014, according to Vinluan. “The Abu Sayyaf group
will be hunted down oneby-one if they do not surrender peacefully. We will not stop until all of them are brought to justice,” he said. The Hayron couple was seized by 6 armed men on the night of October 4 shortly after they arrived at their resort in Alindahaw village in Tukuran town in Zamboanga del Sur province. The abductors dragged away the victims to the coastline where a motorized boat was waiting and then escaped under cover of darkness. The kidnappings occurred during an extended martial law in the South where security forces are battling Muslim extremist groups and communist rebels in the restive region. (Zamboanga Post. With additional reporting from the Mindanao Examiner.)
Cayetano responds to speculations on Sara Duterte’s cryptic Instagram post Continued from page 1 day, news outlets reported on the Philippine Southeast Asian Games Organizing Committee (PHISGOC) issuing an apology to the mishaps and various football teams experiencing unimpressive receptions, among others. The next day, Cayetano, who is the PHISGOC chairperson, partly accused Senate Minority Leader Franklin Drilon of delaying the budget approval for the sports event. Drilon later on revealed
that the Senate never slashed the budget of SEA Games and added that the funds were “mysteriously lodged” under the Department of Foreign Affairs, which its secretary, Teodoro Locsin Jr., even disowned. Cayetano was the DFA chief prior to holding the post of the House Speaker. The country’s hosting of the biennial multi-sport event has so far been marked by logistical failures in athletes’ accommodations, incorrect press
passes, volunteers’ horrific testimonies and unfinished venues, among others. It has even been dubbed the “Fyre Festival of Asia” by some social media users in reference to an extremely fraudulent luxury music festival. Cayetano recently said that he is ready to face investigations on the event immediately after its last day, adding that he is “willing to do a lie detector test.” “Hindi ako magtatago. Ako mismo ang haharap sa Senado,
sa Ombudsman,” he declared this morning. Icy history Duterte-Carpio’s icy history with Cayetano includes the House speakership race in which she previously opposed the then-proposed term-sharing between him and Rep. Lord Allan Velasco of Marinduque. She believed that it would only be “counterproductive” as such a scenario “will slow down the last three years of the administration of President Duterte.”
Last May, she implied that she preferred Velasco as he “is supportive of the reform agenda” of her father. Under the shared speakership, Cayetano will hold the post until October 2020 while Velasco will assume office subsequently for 21 months. Duterte-Carpio also claimed that she earlier received a “veiled threat” from Cayetano, who said that endorsing Velasco would “break up the group” and supposedly “affect the presidential
elections of 2022.” Analysts have said that he might have referred to the alliance of Hugpong ng Pagbabago, Duterte-Carpio’s brainchild. The presidential daughter was previously credited for having a hand in the ousting of former House Speaker Pantaleon Alvarez. Cayetano nevertheless said that he has “sorted out” the issue with Duterte-Carpio and added that he is “very close” to the Dutertes. ( Jeline Malasig Interaksyon)
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Cebu City pupils to get free uniform, supplies, food
C
EBU CITY - Some 190,000 public elementary school pupils here will soon have free school supplies, uniform, shoes, and food, said Mayor Edgardo Labella. With all these the feeding program for of his 10-point socio-ecobenefits, Labella said the schoolchildren, he nomic agenda. there is no more reason said. “This is our way of “This provision that for parents not to send bringing the government (benefits) our public their children to school closer to the people, to school children in elebecause the supplies our respective constitu- mentary, I think it is high and uniforms will be ents to our respective ba- time that we should proprovided by the local rangays,” Labella said af- vide free school supplies. government. He said the ter signing the ordinance In addition, free school P500-million fund for authored by Councilors uniforms and even shoes, the program has been Raymond Alvin Garcia because we noticed that included in the pro- and Alvin Dizon. there are many children posed 2020 annual budUnder the ordinance, of school age that were get. the distribution of school not able to go to elemenAt least P350 million supplies will be done at tary schools because of will be allocated for the the start of every school poverty especially from school supplies, uni- year beginning in June the depressed areas,” forms and shoes while 2020. Labella said helping Labella said. (Fe Marie P150 million will fund the schoolchildren is one Dumaboc)
Cebu City Mayor Edgardo Labella (third from left) announces the local government’s program of giving free school uniforms and shoes, school supplies, and food to some 190,000 public elementary school pupils. (PNA photo by Fe Marie Dumaboc)
Bureau of Treasury urges Cebuanos to invest in ‘Premyo Bonds’ CEBU CITY – Cebuanos will now have a chance to become an investor through the Bureau of Treasury’s (BTr) “Premyo Bonds,” according to Deputy Treasurer Sharon Almanza, who was here recently for a road
show on their new investment product which encourage retail investors to buy smaller denomination of bonds. “Premyo Bonds is an inaugural offering of the Bureau of Treasury and it’s an instrument to encourage
Deputy Treasurer Sharon Almanza gestures as she explains the Bureau of Treasury’s ‘Premyo Bonds’ in a press briefing at the Marco Polo Plaza Hotel in Cebu City. (PNA photo by John Rey Saavedra)
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retail investors while at the same time raising funding for the government. So we will be using the proceeds for financing our requirements for the year especially for our requirements to finance capital expenditure and at the same time human capital development to support education and health,” Almanza said. The Premyo Bonds public offer started on November 25 and will end on December 13, 2019 and this type of bond will mature after one year, she said, adding, investors can buy Premyo Bonds with a minimum investment of P500 and in multiples of P500 thereafter. “We want to encourage the new investors to invest in government securities. The maturity is very short. It’s one year unlike our regular TB
Eastern Mindanao
(treasury bonds), the tenor is three, or five or 10 years. The coupon or the interest rate is better than the regular time deposit. At the same time, the exciting part is the investor will have a chance to win non-cash and cash components,”Almanza said. These bonds have an interest rate of three percent per annum with payment to be credited to the settlement account of the investor every quarter. The non-cash reward like condominium unit or house and lot can be won side by side with the cash component of P1 million for one winner, P100,000 for 10 winners, and P20,000 for 50 winners. The deputy treasurer said that ordinary investors must have a savings or current account with the selling agent banks (Land Bank of
Western Mindanao
the Philippines, Development Bank of the Philippines (DBP), BDO, Union Bank, Unibank, BDO Capital, Chinabank, and Metrobank) before they can buy the Premyo Bonds. Francis Nicolas Chua, DBP First Vice President, said that ordinary investors can apply for the bonds online through the www.treasury.gov.ph. “If you already have an account with those banks, then you can also apply online but you have to be first enrolled to their online facility. You don’t even need to go to your branch. You click on the Premyo Bonds link. You fill in the forms. You choose the bank account, the settlement bank where you will get the funds to pay for the bonds and dun din po papasok ang interest payment every quarter to
Cebu
your account and dun din po pupunta ang principal payment at the end of the one year whatever you invested,” Chua said. He said that every P500 of investment is equivalent to one raffle ticket. “While there is no limit to the investment itself, there is a limit to number of tickets of an investor which is equivalent to P10 million. We don’t want any investor to have control over the raffle so that other investors will have chance of winning,” he said. Almanza, however, said the limit of tickets per investor applies only per selling agent bank. It means that an investor can have tickets in every bank that he utilized to place his Premyo Bonds investment. (John Rey Saavedra)
Manila