Planet Philippines - Calgary Edition (August 2010 issue)

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RP’S RICHEST GETTING RICHER

Mall mogul Henry Sy Sr. (on wheelchair) retains his No. 1 ranking in the Forbes’ list. Beside him is daughter Teresita Sy-Coson.

HE Philippines’ 40 richest are now worth $22.8 billion, up 39 percent from $16.4 billion a year ago, according to the 2010 Forbes Asia Philippines Rich List.

The buoyant economy, which grew 7.3 percent in the first quarter, coupled with the 17-percent rise in the stock market since last year, contributed to the growth in wealth of the country’s richest tycoons.

The biggest dollar gainer this year and sitting firmly at pole position again is 85-year-old mall mogul Henry Sy Sr. He has held the richest Filipino title four times, including this year, since Forbes Asia published the inaugural list of the country’s richest in 2006.

Sy is worth $5 billion, $1.2 billion more than last year. His wealth was boosted by his stock, SM Investments, which was up more than 25 percent in the past year. The group is one of the country’s biggest conglomerates with interests in retail, mall operations and banking.

Staying put at No. 2 is Lucio Tan with $2.1 billion, up from $1.7 billion in 2009. The 76-year old tycoon owns a bevy of businesses that include Fortune Tobacco, Asia Brewery, and Hong-Kong based Eton Properties.

Third on the list is first-time billionaire John Gokongwei Jr. Gokongwei, 83, is worth $1.5 billion, more than double his last year’s net worth of $720 million.

His JG Summit Holdings’ shares hit a two-year peak earlier this year, pushing his net worth into the 10-figure bracket. The stock rose partly on plans to list the group’s budget carrier, Cebu Pacific, whose IPO subsequently got delayed.

Forbes list of richest Filipinos is littered with familiar names that have dominated Philippine business for many years. Six of those in the top 10 are taipans, FilipinoChinese tycoons engaged in retail, mall operations, banking, cigarette manufacturing and real estate.

Other tycoons

There are five billionaires on the list this year compared with three last year. In addition to the top three, Ayala Corp’s Jaime Zobel de Ayala, who dropped a notch to No. 4, is worth $1.4 billion, and Alliance Global Group’s Andrew Tan is again a billionaire, after a two-year hiatus, at No. 5

Low-key Tony Tan Caktiong is the man behind the hugely successful fast food chain Jollibee Foods Corp.

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First-time dollar-billionaire John Gokongwei Jr. is worth $1.5 billion, more than double his last year’s net worth of $720 million.

27; $120 million) also saw smaller fortunes this year.

New faces

Lucio Tan owns a bevy of businesses that includes Fortune Tobacco, Asia Brewery, PNB, PAL and Eton Properties. with $1.2 billion.

The top five tycoons are not the only ones who saw gains in their wealth; 28 others on the list also enjoyed growth in their net worth.

One notable winner is 89year old David Consunji, ranked No. 12, whose wealth again significantly increased for the second straight year. His net worth soared to $715 million, up from $300 million in 2009 and $105 million in 2008, as his construction firm DMCI’s shares have more than doubled.

Bucking the trend, four tycoons are poorer compared with a year ago. Manuel Villar Jr., who lost the presidential election in May, dropped to No. 17 with a reduced net worth of $380 million, down from $530 million last year.

GMA Network’s Gilberto Duavit (No. 25; $145 million), Menardo Jimenez (No. 26; $143 million), and Felipe Gozon (No.

There are two new faces on the list this year. The highest-ranking newcomer is former Trade Minister Roberto Ongpin (No. 21; $300 million). He is part of an investor group that is poised to become the majority shareholder in San Miguel. Ongpin, 73, also has investments in property, gaming, mining and telecommunications.

The other new entrant is Wilfredo Keng (No. 32; $100 million) who runs mining company Century Peak Metals.

The minimum net worth to make the list this year increased to $50 million, up from $38 million previously. The full list of the Philippines’ richest can be found in the July 2010 issue of Forbes Asia.

The top 10 richest in the Philippines are the following: 1. Henry Sy; US$5 billion 2. Lucio Tan; $2.1 billion 3. John Gokongwei Jr.; $1.5 billion 4. Jaime Zobel de Ayala; $1.4 billion 5. Andrew Tan; $1.2 billion 6. Tony Tan Caktiong; $980 million 7. Enrique Razon Jr.; $975 million 8. Beatrice Campos; $840 million 9. George Ty; $805 million 10. Eduardo Cojuangco Jr.; $760 million.

The list was compiled with information obtained from individuals, stock exchanges, public documents and analysts.

For privately held assets, Forbes Asia estimated what they would be worth if public. All public net worths were calculated using June 23 stock prices and exchange rates.

This ranking, unlike the Forbes billionaires list, includes many family fortunes shared by individuals and their children, grandchildren and siblings. n

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CORY AND NOYNOY AQUINO:

A YEAR, A MONTH Noynoy Aquino became our President because many of us believed in his inherited sense of decency as well as his sincerity. He has now served a month in office. Today we can still happily say that he has done right by us, thus far, that the man on whom we placed our trust has been fulfilling our hopeful expectations.

Cory Aquino’s passing last year pushed her only son to carry on the torch of the People Power phenomenon.

BY KRIP YUSON

AST AUGUST 1, we commemorated the sad demise of our Tita Cory, or former President Corazon C. Aquino, the good lady who inspired our People Power phenomenon, and who remarkably had one more gift to hand us when she passed away last year.

Indeed, the spiritually hopeful among us can say that a door closing could mean a window opening. And while it may seem ghoulish to imply that a death could turn out to be a blessing, that is exactly what happened when Tita Cory bequeathed us her son.

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We choose to cheer him on because we believe this is better than to drag him down with precipitate hoots.

Noynoy Aquino became our President because many of us believed in his inherited sense of decency as well as his sincerity. He has now served a month in office.

We who voted for him can still say we did right by our instincts, by our own hopes and dreams for positive change.

Today we can still happily say that he has done right by us, thus far, that the man on whom we placed our trust has been fulfilling our hopeful expectations.

Of course a month is such a brief span of time, especially when it involves a job that by its very nature seems ever an uphill climb. He can stumble on the long hard road ahead. And so with bated breath do we choose to cheer him on; we believe this is better than to drag him down with precipitate hoots.

We are not naive. We are not cock-eyed optimists. But we prefer to evaluate reality with the bright lens of hope. Thus we remain convinced that with this man at the helm, our country of fractious voices stands a better chance of turning a corner and seeing the light of day.

It’s been a long dark night of abuse we have suffered. Anything better than the last decade would be an infinite step up the ladder of good fortune. But if this President continues to impress us with earnestness and goodwill, with faith in hard work, then it will be a continuing bonus of lasting change that we will be elated to pass on to the next generations.

When President Benigno Simeon C. Aquino III stepped up to the plate at noon of June 30, we wished him and all of us well. His first words were stirring. Unlike the perpetual naysayers in our midst who expect a speaker to say exactly what must address their own agendas, we thought it was enough for us to hear that abuse of privilege on the road would end — as a good symbolic signal to start a caring kind of governance.

Despite the touted, mythical honeymoon of a hundred days expected from media, pesky was the welcome given our President and his official alter egos and subalterns. Much was made of a reputed booboo in the wording of a Memorandum Circular and the refusal of the presidential spokesman to have words thrust into his

Anything better than the last decade would be an infinite step up the ladder of good fortune. mouth by an aggressive newspaperman.

The jocular way the new Education Secretary referred to media — as not exactly being helpful when it pressed for confrontation — was pounced upon as arrogance.

And when the retained Foreign Secretary sounded peeved when confronted by a lady reporter whose agitated manner is often seen as abrasive, then a seminar on proper media relations became the order of the day. Well and good.

As far as Cabinet appointments went, there has been general acceptance. Clearly, the names that gained the most approval were those of Leila de Lima for the DOJ and Jesse Robredo for the DILG. Ping de Jesus, still remembered for his clean, effective term with the DPWH, was seen as a fine fit for the DOTC, another large and complex department prone to corruption.

Many new names couldn’t raise eyebrows, except for Lito Alvarez as Customs chief, with word quickly going around, especially among golfers, on how he had just been suspended as an Alabang club member for “cheating” in a tournament — a nono among gentlemen players. Denials and explanations were issued. The apparent violation was essentially circumstantial — so went the defense as expressed by both Alvarez and his apparent backer, incoming DOF secretary Cesar Purisima, who is known to have contributed substantially to Aquino’s election campaign funds.

The same broadsheet reporter who had riled spokesman Edwin Lacierda on Day One at Malacañang spiked up a supposed “furor” over the presence of four Abads in government. But the obvious credentials of all four, and testimonies supporting their character as individuals and as a family, could not be shaken by any attempt to raise a public issue.

Besides, Butch Abad is well known for

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President Aquino has met several times with the military, assuring them of an end to their politicization. his probity and decency. His wife Dina was elected to Congress. Daughter Julia served as Aquino’s chief-of-staff when he was senator, and has obviously gained the trust and respect of the President, who asked her to head the Presidential Management Staff. Lastly, son Luis was appointed as his chief-of-staff not by Aquino but Sec. Purisima, who obviously believes in the boy’s merits.

Meanwhile, PNoy remained steadfast over eschewing wangwang use on his daily forays from Times St., even when there was reason to hurry. He met several times with the military, assured them of an end to their politicization, expressed the need to beef up their ranks. He traveled far to the north to condole with widows of soldiers slain in ambush.

So far he has yet to conduct any other visit to any province. Soon we should see the kind of welcome he will receive from Visayans and Mindanaoans. For now they recognize the need for him to set his government solidly in place.

The President displayed a modicum of pique at the failure of Pag-asa to give accurate warning on a typhoon’s course. This has led positively to cognizance of the need for more substantial funding for the weather agency, indeed perhaps to address all requisites regarding the levels of our science applications.

Came the day of the SONA and again some sharpened knives were ready to be wielded. But President Aquino stirred all supporters anew with his “truth-telling” in Filipino — a recitation of sample anomalies that bedevilled the preceding administration, capped by the revelation on the sorry state of our national coffers.

It all seemed to follow up on the consensus that sundry landmines had been con-

veniently left in place by his predecessor.

But sagely, he shifted tone from the dismal headshaking and told us we can still rise from these perfidies. He shared instances of optimism on what can be done — as long as his partners in government steered clear of tongpats.

True, he didn’t cover all ground in his speech, and quick were the detractors, from the new opposition to the usual caviling leftist sector, that he didn’t mention this or that, or provided a legislative roadmap.

There will be time for all those. More essential is the fact that in his first month of office, President Aquino enjoys the highest rating of trust and approval ever — from 85% to an astounding 90%. It only goes to show that most Filipinos relate to his sincerity in having to deal with manifold problems — out of respect for his office, his countrymen, his own person, and the family that raised him. It is what constitutes his abiding desire to pull the people he leads out of that hole of hopelessness.

Detractors may claim that the data fed the President were wrong. Militants now demand the distribution of free rice since the NFA is drowning in questionable oversupply, as well as an end to any suggestion that MRT and LRT rates be raised as a bow towards pragmatism. Midnight appointments still have to be dealt with. Artists and culture workers still await a presidential word or any signal that they, too, will benefit from momentous change.

There will be time to address all these, some even well beyond his first hundred days as President. But it is clear to most of us that in his first month on the job, P-Noy has continued to buttress our faith in the propitious gift his mother left behind when she left us, only a year ago.

(GMANews.TV) n

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BY CALIXTO V. CHIKIAMCO

HAT President Benigno Aquino III or P-Noy still lacks is ____? If you answered “a developmental vision,” you can go to the head of the class. So far, PNoy’s program of government consists of being the un-Arroyo and the anti-Arroyo.

He has stopped the Arroyo policy of tolerating the use of wang-wang or car sirens by influential individuals to get ahead in traffic. Unlike the former president now congresswoman, P-Noy is showing that he’s humble and willing to follow the law.

He has directed new Secretary of Interior and Local Government Jesse Robredo to go after jueteng, unlike his predecessor whose political career had been marked allegedly by association with jueteng lords.

He vows a policy of transparency and says he will hold weekly press conferences, unlike former President Arroyo, who rarely held press conferences and dealt with the press through her spokespersons.

He has created a Truth Commission, whose task would be to investigate the anomalies and controversies said to have been committed by former President Arroyo during her nine-year rule. Among those targeted for investigation are former Arroyo minions Joc-Joc Bolante, Virgilio Garcillano, and those responsible for the ZTE scandal.

Being un-Arroyo and anti-Arroyo is not a bad program of government. In fact, it’s a good one, if P-Noy wants to deliver

President Aquino’s style of honesty, simplicity, and humility will prove a popular counterpoint to the arrogance and culture of impunity embraced by his predecessor.

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IT’S NOT ENOUGH FOR P-NOY TO BE ‘UN-ARROYO’ What P-Noy needs for a sustained momentum of leadership is a “strategic vision” or a “developmental vision.” The developmental vision is the way forward, the future to which he is asking the citizens to sacrifice for, and the goal with which to unify the country.

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on his promise of “no corruption.” Unless those who committed abuses are made accountable, any campaign to impose a rule of clean government will founder on the shoals of credibility. A style of honesty, simplicity, and humility will also prove a popular counterpoint to the arrogance and culture of impunity embraced by his predecessor.

Un-Arroyo

Being un-Arroyo will also yield some real dividends, and not just political ones.

For example, former President Arroyo chose to politicize the Department of Transportation and Communications (DOTC) and its attached agencies, appointing political loyalists (ex-policemen and retired generals) rather than competent people.

The result was that with an incompetent Civil Aviation Authority, our country got blacklisted by the European Union and our air-worthiness was downgraded by the US Federal Aviation Authority. We lost a lot of tourism revenues and failed to capitalize on the troubles in Thailand.

By simply putting in an un-Arroyo type of technocrat in the person of Jose de Jesus in the DOTC, rather than an ex-policeman, P-Noy can fix these transportation problems and immediately boost tourism revenues.

Not enough

However, being un-Arroyo and antiArroyo can only take P-Noy so far. In fact, a purely un-Arroyo program of government carries some political risks. Not all of the people appointed by P-Noy may be saints like him. It’s perhaps inevitable that some corruption scandal can erupt in his administration, and this could be enough to tarnish his administration’s carefully cultivated image of incorruptibility. What then?

A moral imperative may not be enough

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herence to his government. Policies like “levelling the playing field,” dismantling monopolies, privatizing state assets and services, embracing liberalization and globalization, forging peace agreements with the MNLF and the rightists, etc. were adopted to make the country an Asian economic tiger, or at least a tiger cub.

to drive a country forward.

“Clean” will make people respect you, but it won’t put food in people’s mouths.

P-Noy also talks about “judicial reforms,” but he should not confuse cause and effect. A malfunctioning judiciary is an effect of a system where companies don’t extract value from the market but from “investing” in politicians, judges, and regulators. Cleaning up the judiciary without changing the system of rent-seeking may not be possible. Nor will an efficient judicial system automatically translate into development.

Fatal flaw

Strategic vision

What P-Noy needs for a sustained momentum of leadership is a “strategic vision” or a “developmental vision.” The developmental vision is the way forward, the future to which he is asking the citizens to sacrifice for, and the goal with which to unify the country. It must, of necessity, be about high economic growth because only high growth can wipe out poverty.

Former President Fidel Ramos had the right idea in “Philippines 2000.” It was a carefully crafted strategic vision that brought co-

A moral imperative may not be enough to drive a country forward. “Clean” will make people respect you, but it won’t put food in people’s mouths.

Unfortunately, Philippines 2000 had a fatal flaw. The Ramos administration’s bias for a strong peso made the economy vulnerable to the Asian financial contagion. Hot money and the accompanying real estate bubble obscured the need for a competitive exchange rate as the foundation for Philippines 2000. The result?

A backlash against Philippines 2000 and Ramos’ anointed successor, Jose de Venecia, lost badly to former President Estrada.

Nonetheless, Ramos had the right idea. So far, the Aquino administration hasn’t displayed any strategic thinking, or at least, not yet. This early, we are looking forward to P-Noy’s adoption and implementation of a developmental vision. It will mark his transformation from being just a “reactionary” leader, elected on anti-Arroyo sentiments and admiration for his parents, into a visionary one. (Business World) n

SUDOKU RULES: Place a number from 1-9 in each empty cell. Each row, column and 3x3 block bounded by bold line (9 blocks) contains all the numbers from 1-9

What is needed is a “strategic vision” or a “developmental vision,” which must, of necessity, be about high economic growth because only high growth can wipe out poverty.

SOLUTION ON PAGE 29

CALGARY EDITION MARIA PERCY JAVELOSA ............................................................ Publisher/Advertising Manager CARMELA SARILE ...................................................................... Graphic Artist STEVE TARZWELL, JULIE PICOC, FERDIE GAYOS .......................... Contributors

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SURPRISES OUR WET MARKETS YIELD FROM BICOL TO TAWI-TAWI

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A trip to the market is a way to find out what ingredients are available and how these are cooked.

Vendors are always friendly, enthusiastic about showing how to cook what they sell. They also do the extra services for free, like cutting your bangus for daing (butterflied), preparing the bangus or chicken for relleno, expertly removing the meat from the skin.

BY MICKY FENIX

Y FIRST trip to a wet market was with Aling Bebeng, our cook who doubled as my baby sister’s nanny. My other sister was with us, and I think we merited the trip because there was only one maid to three sisters left at home.

I remember our cook wrapping the money in her handkerchief, tying the edges in a knot, then securing that inside her pocket with a safety pin. I remembered her haggling, instructing me to stay close, going from section to section. What I don’t recall was exactly what we bought that day, but she was such a good cook that she could coax us into eating frogs’ legs soup.

Writing about food necessitates a trip to the market, here or abroad. It’s a way to find out what ingredients are available, showing the preference of the place and how these are cooked.

Vendors are always friendly, enthusi-

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Vendors offer free service, including picking the bones of the bangus, slaughtering live chicken or fish right before you.

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