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Local stocks climb as US-China trade talks start

By Arra B. Francia, Reporter
LOCAL EQUITIES booked gains on Monday as investors turned upbeat prior to the start of meetings between the United States and China to defuse their ongoing trade war.
The 30-company Philippine Stock Exchange index (PSEi) climbed 0.34% or 26.55 points to 7,787.66 yesterday, marking its fourth day on a winning streak. The main index hit an intraday high of 7,900.70, but failed to hold on to the large gains until the closing bell.
The broader all-shares index likewise rose 0.41% or 19.38 points to 4,671.97.
“Philippine shares continue to be bought on positive sentiment, this time with hope that a breakthrough will be reached as the Sino-trade discussion starts,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
Officials from the US and China will meet in Beijing for two days starting Monday to discuss the next steps in their trade spat before their 90-day truce expires on March 1.
The PSEi mirrored the positive finishes of markets abroad. Last Friday, the Dow Jones Industrial Average surged 3.29% or 746.94 points to 23,433.16. The S&P 500 index advanced 3.43% or 84.05 points to 2,513.94, while the Nasdaq Composite index rallied 4.26% or 275.35 points to 6,738.86.
“Positivity may have come from how US markets surged last Friday, and further sentiment from the lower than expected December inflation figure,” Papa Securities Corp. Sales Associate Gabriel Jose F. Perez said in an e-mail, referring to the 5.2% inflation rate reported by the Philippine Statistics Authority last Friday.
Mr. Perez also noted that investors may have gone profit taking near the market’s close, given that it closed much lower than its intraday high.
“With [yesterday]’s sell-down at the close, the 7,900 level seems to be the area to watch out for in the coming days. Foreigners may have finally come back in the market as well especially with two consecutive days of inflows above the P1.0 billion mark,” Mr. Perez said.
The local bourse maintained its foreign buying position for the third straight day, with net inflows rising to P1.22 billion from last Friday’s P1.02 billion.
The financials counter was the lone sub-index that ended the day with losses, falling 1.31% or 23.81 points to 1,789.80.
The rest went up, led by property which surged 1.6% or 62.39 points to 3,939.75. Industrials firmed up 0.96% or 108.91 points to 11,358.82; services were up 0.81% or 12.03 points to 1,495.44; holding firms added 0.54% or 41.07 points to 7,648.11; while mining and oil gained 0.32% or 28.83 points to 8,900.98.
Some 1.34 million issues valued at P8.41 billion switched hands, down from the previous session’s P9.04 billion.
Advancers swamped decliners, 126 to 82, while 38 names were unchanged.

Peso strengthens on dovish Fed

THE PESO maintained its strength for a second straight session on Monday, riding on dovish cues from the US Federal Reserve which kept the dollar at bay.
The peso closed at P52.38 versus the greenback yesterday, climbing 13 centavos from its P52.51 finish on Friday to mark its best showing in a month since a P52.32 close on Dec. 3, 2018.
The local unit traded stronger throughout the session, opening at P52.40 against the dollar. It touched P52.445 as its weakest point within the day and logged its best showing at P52.315 before settling at the closing rate.
Two traders sought for comment said the peso benefited from dovish remarks made by Fed Chair Jerome H. Powell, which market players took as a sign that the United States will slow down on further rate hikes.
“The peso strengthened [on Monday] after Federal Reserve chairman Jerome Powell said that the US central bank will be ‘patient’ in its monetary policy, which signalled dovish cues that the Fed would likely be cautious in its stance for this year following the recent weak global economic data,” one trader said.
In a speech last Friday, Mr. Powell said the Fed is not on a preset path of rate hikes.
Another currency trader pointed out that aggressive selling also added to the peso trades.
Dollars traded yesterday reached $822.45 million, higher than the $684.95 million which exchanged hands last week.
The second trader added that the ongoing shutdown of the US federal government could keep the dollar weak.
“Locally, there are no expected drivers. It’s also light in the US especially given their shutdown,” the trader said.
For today, the first trader expects the peso to trade between P52.30 and P52.50. The other trader said there may be room for the peso to strengthen further to play between the P52.25-P52.50 range. — Melissa Luz T. Lopez

Makati court affirms arrest of Trillanes for rebellion

A MAKATI court has denied a motion for reconsideration by opposition Senator Antonio F. Trillanes IV on the Sept. 25, 2018 order for his arrest in connection with his revived rebellion case stemming from the Manila Peninsula Siege of 2007.
In an order on Jan. 7, Judge Elmo M. Alameda of Makati Regional Trial Court (RTC) Branch 150 ruled that Mr. Trillanes failed to prove that he complied with the requirements for his amnesty such as admission of guilt and submission of application form.
“Unfortunately, Sen. Trillanes failed to prove that the original of the alleged application form exists. Sen. Trillanes even failed to explain his failure to locate or find the copy thereof. He also failed to prove the contents of his application,” Mr. Alameda ruled.
President Rodrigo R. Duterte on Aug. 31 last year issued Proclamation No. 572 voiding the amnesty granted to Mr. Trillanes in 2011 in connection with his coup d’etat case over the 2003 Oakwood Mutiny and his 2007 rebellion case.
Mr. Alameda also said that as the senator failed to prove the existence of his accomplished application form and his admission of guilt, “the substitutionary evidence presented by Sen. Trillanes is considered hearsay evidence and cannot be admitted as evidence to prove compliance with the minimum requirements set forth in Proclamation No. 75.”
Mr. Alameda on Sept. 25 ordered Mr. Trillanes’s arrest and issued a hold-departure order against him, saying the court is “morally convinced of the sufficiency and legality” of Proclamation No. 572. Mr. Trillanes posted bail of P200,000 that day.
On the other hand, Judge Andres B. Soriano of RTC Branch 148, hearing Mr. Trillanes’s coup d’etat case, denied on Oct. 22 last year the prosecution’s motion for Mr. Trillanes’s arrest and hold-departure, saying the 2011 granting of amnesty on the senator is “final and executory.”
Mr. Trillanes is currently abroad after Mr. Alameda on Nov. 29 granted his motion to partially lift the hold-departure order on the senator to allow him to attend various activities in The Netherlands, Spain, the United Kingdom and the United States. — V.M.M.V.

Bello, Lapeña, Quintayo under Palace investigation

By Arjay L. Balinbin, Reporter
AN OFFICIAL of the Presidential Anti-Corruption Commission (PACC) on Monday said the commission is currently investigating corruption allegations against Labor Secretary Silvestre H. Bello III, Director-General Isidro S. Lapeña of the Technical and Skills Development Authority, and National Commission on Indigenous Peoples (NCIP) chairperson Leonor T. Oralde-Quintayo.
PACC Commissioner Manuelito Luna told Palace reporters in a phone patch interview that Mr. Bello, Mr. Lapeña, and Ms. Quintayo are being investigated, adding that the PACC is also investigating corruption complaints against some officials in the Department of Public Works and Highways (DPWH) and Department of Finance (DoF).
Asked if the officials being probed include Secretaries Mark A. Villar and Carlos G. Dominguez III, Mr. Luna said: “May mga tao sa mga departments na ‘yan na iniimbestigahan namin. Hindi secretaries. May mga director-level, RDOs (regional director of operations).” (There are individuals in those departments whom we investigate, but they are not secretaries. There are director-level [officials], RDOs).
In a phone message, PACC Chairman Dante L. Jimenez confirmed Mr. Luna’s disclosure.
Mr. Luna said, “Si Lapeña, motu proprio ‘yun, in connection doon sa magnetic lifters.” (Mr. Lapeña is under motu proprio investigation in connection with the magnetic lifters [found in Cavite that allegedly contained P11 billion in methamphetamine or shabu]).
As for Mr. Bello and Ms. Quintayo, he said: “May complaints sa amin laban sa kanila (We have received complaints against them).”
Mr. Luna cited complaints of corruption and neglect of duty against Ms. Quintayo.
“May mga leaders ng IP (indigenous peoples) na nag-complain na parang kumakampi siya sa isang grupo na hindi legitimate, tapos yung pera doon ni-release,” Mr. Luna said. (There are IP leaders who complained that a certain illegitimate group favored by the Chairperson had received funds from the commission).
“Plus neglect of duty kasi may mga (there are) IP…who say that they are being left out. Hindi inaasikaso (Their concerns are not being addressed).”
Sought for comment, lawyer Erwin M. Caliba, executive assistant to Ms. Quintayo, said in a phone interview the NCIP Chair “welcomes” the investigation.
“She welcomes any investigation to be conducted by the PACC. ‘Yun ‘yung reaction niya (That is her reaction). We will be cooperating with the PACC for whatever investigation that they will be conducting,” he said.
Regarding Mr. Bello, recruitment agency owner Amanda Lalic-Araneta claimed in July last year that she gave him P100,000 and an iPhone as a gift.
She also claimed that Mr. Bello demanded P10-15 million to approve the license for MMML Recruitment Services, Inc. of which Ms. Araneta is president. She then brought her allegations against the Labor Chief to the PACC.
Mr. Luna said the commission has found prima facie evidence against Mr. Bello.
Sought for comment, Mr. Bello told reporters in a phone interview that he is not aware of the PACC’s investigation.
“Ay wala naman akong alam na kaso against me dahil wala namang pina-file,” he said. (I do not know any case against me because nothing has been filed.)
The Labor Chief also said he is confident he can answer the allegations against him.
“Oo naman. Wala naman akong alam na katiwalian na involved ako,” he said. (Yes, of course. I do not know any corruption in which I am involved).
Sought for comment during a Palace briefing, Presidential Spokesperson Salvador S. Panelo said: “You must remember the President’s policy ever since: There are no sacred cows in this administration. You violate the law, regardless of your status — whether you’re a friend or ally or a political adversary or a relative or a friend or a fraternity brother — wala lahat iyon (It does not matter). You violate the law, you are accountable.”

Palace on China-Taiwan row: ‘It’s between the two countries’

“NEVER MIND them,” said President Rodrigo R. Duterte’s spokesman, in response to questions about China’s latest tension with Taiwan.
“It’s between the two countries,” Presidential Spokesperson Salvador S. Panelo said, referring to the Asian power and the island it considers a renegade province.
“Taiwan is China’s most sensitive issue and is claimed by Beijing as its sacred territory,” said a report by Reuters, adding that Chinese leader Xi Jinping “has stepped up pressure on the democratic island since Tsai Ing-wen from the pro-independence Democratic Progressive Party became president in 2016.
“Tayo ang concern natin ay iyong OFWs,” Mr. Panelo, for his part, said. (Overseas Filipino Workers are our concern).
“Kapag medyo may problema doon arising out of that conflict, saka tayo kikilos for the safety of our OFWs,” he added. (If a problem arises out of that conflict, we’ll take action for the safety of our OFWs).
Asked if the Philippine government will support Taiwan, Mr. Panelo said: “Eh sa ngayon hindi natin kasi alam eh. Hayaan mo na muna sila.” (We do not know the situation yet. Never mind them).
Mr. Xi was quoted by the Reuters report as saying, “We do not promise to renounce the use of force and reserve the option to use all necessary measures [to achieve this goal and prevent Taiwan independence].” he also said.
The same report also quoted Taiwan’s Ms. Tsai as saying, “The vast majority in Taiwan resolutely oppose ‘one country, two systems.’ This is the ‘Taiwan consensus.’” — A.L. Balinbin

Senators suggest a portion of road user’s tax for road-safety projects

SENATOR Joseph Victor G. Ejercito on Monday suggested that a portion of the road user’s tax should still be used for road safety projects.
He said this in response to President Rodrigo R. Duterte’s plan to use the funds for the Bicol region’s flood control projects.
“While I support PRRD’s proposal, I suggest that the portion for road safety projects will be retained and the remaining portion be allotted for the suggestion of the President,” Mr. Ejercito, a vice-chairperson of the Senate committee on finance, said in a mobile phone message to reporters.
“We cannot sacrifice the whole road safety program, this would mean saving lives too,” he added.
For his part, Senator Panfilo M. Lacson said the suggestion may be supported as long as it was in line with Republic Act No. 8794 or the law imposing the road user’s tax, also known as the motor vehicle user’s charge (MVUC).
“As long as the usage is compliant with the provisions of RA 8794 which include a menu list that specifies and limits the description of the projects to be implemented utilizing the proceeds of the MVUC,” Mr. Lacson, also a vice-chairperson of the committee, said in a mobile phone message to reporters.
Mr. Duterte, during a situation briefing last Friday in Camarines Sur in the aftermath of typhoon Usman, said he wanted to use the road user’s tax collected by the Road Board to fund for infrastructure and flood control projects that will improve the Bicol region’s preparedness against disasters.
The President made the statement amid the conflicting positions of both chambers of Congress regarding the bill abolishing the Road Board. The bill, which remained pending, also seeks to transfer the road user’s tax collections to be remitted directly to the National Treasury and to be appropriated for projects of the DPWH, Department of Environment and Natural Resources (DENR), and the Department of Transportation (DoTr).
House Majority Leader Rolando G. Andaya, Jr. on Sunday said that they are ready to designate members of the bicameral conference committee that will reconcile the disagreeing positions of the House and Senate regarding the abolition of the Road Board. It was Senate Majority Leader Juan Miguel F. Zubiri who previously proposed for the bicameral conference committee.
In response to Mr. Andaya, Senate President Vicente C. Sotto III told reporters in a mobile phone message on Monday that the Road Board issue will be discussed by the Senate in an all-senators caucus on Jan. 14 when Congress resumes session.

SC asked to junk petition against BOL

By Vann Marlo M. Villegas
SUPPORTERS of the Bangsomoro Organic Law (BOL) asked the Supreme Court (SC) on Monday to dismiss the petition late last year by Sulu Gov. Abdusakur A. Tan II against the law.
In a petition-in-intervention filed on Jan. 7 by Presidential Anti-Corruption Commissioner Manuelito R. Luna, former Commission on Human Rights commissioner Nasser A. Marohomsalic, and The Philippine Association of Islamic Accountants, Inc., represented by its President Amanoding D. Esmail, they said that the Constitution does not limit Congress from passing legislation strengthening or abolishing the Autonomous Region in Muslim Mindanao (ARMM).
They said that Article X, Sections 18 and 19 of the 1987 Constitution mandated the first Congress elected under the Constitution to enact organic laws for the autonomous regions in Muslim Mindanao and the Cordilleras.
“Petitioner overreach(es) in opining that the constitutional provisions delimit the legislative power of Congress; it is reading something into provisions,” they stated, adding that the Constitution only provided the process on the passage of organic acts.
The petitioners also claimed that the parliamentary government under the BOL will not violate the “constitutional principle of separation of power and check and balance.”
“There is no definitive provision in the Constitution that says that the autonomous region in Muslim Mindanao should not be parliamentary. All that the Constitution requires is that the Philippines is a democratic and republican State.”
They also claimed Mr. Tan lacked legal standing in filing his petition.
“Indeed. It is our submission that Petitioner has not shown any personal and material interest that will be prejudiced or affected adversely where the BOL is implemented. Lacking legal standing, Petitioner recourse the Supreme Court by way of petition assailing particularly the constitutionality of the Bangsamoro Organic Law must therefore fail,” they said.
Mr. Tan in October asked the SC to issue a temporary restraining order (TRO) and/or writ of preliminary injunction against the implementation of the BOL due to constitutional issues, claiming that the abolition of the ARMM is only through the amendment of the Constitution.
He also claimed that the parliamentary form of government in the BOL violates the separation of powers as it “fused” the power of the executive and legislative branch of government.
A plebiscite will be held on Jan. 21 and Feb. 6 for the ratification of BOL. If approved, it will serve to abolish ARMM and form the Bangsamoro Autonomous Region in Muslim Mindanao.
Under the parliamentary government of the BOL, registered voters in the region will elect members of the Bangsamoro Parliament, which is the legislative arm. The parliament will elect the Chief Minister of the Bangsamoro Government.
A second petition seeking a TRO against the BOL was also filed by the Philippine Constitution Association over questions on constitutionality.

Fuel prices up this week following international rates hike

OIL COMPANIES are raising the prices of petroleum products this week as trading in the international market had taken a sharp turn on Thursday last week after days of steady decline, Energy officials said on Monday. Gasoline prices will increase by P0.80 per liter (/L), diesel prices by P0.70/L, and gasoline by P0.40/L. This week’s price adjustment is the first increase after reductions in most weeks from Oct. to Dec. last year. Department of Energy Undersecretary William Felix B. Fuentebella said this week’s price increase was “quite unusual” because trading in the global market reversed the downward trend from Monday to Wednesday last week. He attributed the increase to the move by Saudi Arabia to cut its output while other members of the oil cartel discussed the same move. He also cited a statement from officials of the Middle Eastern country for further action if the production cut would not have an impact on prices. — Victor V. Saulon

Police chief says no order to profile ACT members, but 3 officers relieved over leaked document

POLICE DIRECTOR General Oscar D. Albayalde said he has ordered the relieved of three intelligence officers who allegedly “leaked” a document ordering the profiling of members of the left-leaning Alliance of Concerned Teachers (ACT) Party-list, but added that he did not sign any such directive.
“As far as I am concerned, wala akong pinirmahan na ganyan at nung nag-leak ‘yan sinabi nu’ng mga different regional directors kung sino nag-leak (I did not sign any orders and when it leaked, the regional directors told me who made the leak)… I have already ordered for all the intelligence officers involved to be relieved,” he told reporters at a briefing on Monday.
Mr. Albayalde said the three officers came from the Manila Police District Station 3, Quezon City Police District Station 6, and Zambales police office.
He added that intelligence officers are expected to do their job “discreetly” and that “profiling” is simply part of police security measures.
“Hindi naman po na kapag ikaw ay prino-file, ang buhay mo ay delikado, namimiligro (It does not mean that when you are being profiled, your life will be in danger)… This is part of our security preparations, security protocols, maintenance of peace and order in this country,” said Mr. Albayalde.
The supposed order to list teachers in private and public schools who are members of the left-leaning group made rounds in social media over the weekend.
ACT members held a rally Monday in front of Camp Crame, the Philippine National Police (PNP) headquarters, to condemn the directive.
“The singling out of ACT members in PNP’s profiling is enough cause for alarm, especially with the state’s track record of violent suppression of dissent. We cannot sit idly by as PNP sows terror in our schools and communities,” ACT Philippine Secretary General Raymond said in a statement.
Malacañang, meanwhile, said that some ACT members are being monitored by the government because of their alleged connection with the communist armed group New People’s Army (NPA).
In a press briefing on Monday, Presidential Spokesperson Salvador S. Panelo initially denied that the government, through the police, is profiling ACT members, but later said, “If there are such cases, there is a reason to surveil. For example, if someone reports to you that this teacher was seen interacting with those identified NPA, if you are the police, won’t you monitor their actions?”
Mr. Basilio described the government officials’ pronouncements as “pathetic and ludicrous.”
“Malacañang and PNP’s statements are pathetic and ridiculously wrong on so many levels. They were already caught red-handed but futilely attempts to deny or lighten the implications of their illegal activity,” he said.
Meanwhile, Department of the Interior and Local Government Spokesperson Jonathan E. Malaya said Secretary Eduardo M. Año is ready to have a dialogue with the Department of Education regarding the alleged crackdown on ACT members.
“Secretary Eduardo M. Año is open to the dialogue requested by the Department of… We would be glad to meet with our partners in DepEd at the soonest possible opportunity,” said Mr. Malaya in a statement on Monday.
“Through this meeting with our counterparts with DepEd, we hope to relay to them that what the PNP is undergoing is not only legal but also necessary,” he added.
DAVAO CITY
In Davao City, Senior Supt. Alexander C. Tagum said the Davao City Police Office has not undertaken any such intelligence gathering because they have not received any order from higher authorities.
“We have not received any order,” Mr. Tagum said when sought for comment.
Reynaldo S. Pardillo, ACT-Davao City Chapter president, confirmed that they have not received reports from members of being surveilled, and said they hope it would stay that way.
“It (surveillance reports) has stirred concerns among our teachers who only wish to receive benefits and salary necessary to support our daily living despite the volume of our work inside and outside the school premises,” Mr. Pardillo said.
The ACT-Davao City Chapter was in a discord with the local government in Oct. last year after Mayor Sara Duterte-Carpio denied the group’s demand for a P406 million annual subsidy covering 11,959 teaching and non-teaching personnel of the Department of Education (DepEd).
Ms. Carpio asserted that there is no basis in law for the local government unit to provide such assistance to national government employees, specifically the DepEd, and asked the group to submit another proposal for assistance. — Vince Angelo C. Ferreras, Arjay L. Balinbin and Carmelito Q. Francisco

Gun ban period for May elections starts Jan. 13

PHILIPPINE National Police (PNP) chief Oscar D. Albayalde yesterday issued a reminder that the gun ban period starts on Jan. 13 as prescribed by the Commission on Elections (Comelec) in line with the May 12 midterm polls. During the ban period, which will be until June 12, the issuance of gun licenses will also be suspended. Mr. Albayalde said uniformed personnel will be exempted from the gun ban and politicians with threats will be provided with security detail. “They will be provided with security detail. We have Comelec exemptions para sa mga (for the) security details… But they will be in uniform because they will be carrying firearms,” he said. The police chief also said that the PNP is looking into 18 municipalities identified as potential election hotspots. — Vince Angelo C. Ferreras

Tijam takes a bow

Supreme Court Associate Justice Noel G. Tijam (left) receives a Certificate of Appreciation “for his around 3 decades of stellar public service” from the SC community as he attended his last flag ceremony Monday, Jan. 7, before officially retiring. Mr. Tijam, who wrote the controversial decision on the ouster of Maria Lourdes P. Sereno as chief justice in June 2018, said in his speech during his retirement ceremony last Jan. 4: “Some may think that it is easy to be right because one needs only to follow one’s innate sense of right and wrong or one’s sense of logic. But a Justice of the Court is not supposed to be ruled by his or her convictions or beliefs; the Court must decide based on what the law is. The law, however, is not always as clear as the light of day. It is not always straightforward or complete,” he said.

Police get a match on gunman’s weapon, shells at Batocabe crime scene

THE PHILIPPINE National Police (PNP) confirmed that the recovered gun shells and slugs from the site where AKO Bicol Party-list Rep. Rodel M. Batocabe was killed matched with the weapon used by gunman Henry Yuson. According to the ballistics examination conducted by the PNP Crime Laboratory, 11 shells and five slugs from the crime scene matched with the caliber .40 pistol used by the killer last Dec. 22. Police chief Oscar D. Albayalde, in a press briefing on Monday, Jan. 7, said, “Even without the real firearms, pero the shells na nag-positive, na nag-match dun sa record ni Yuson dito. Then malakas ang ebidensya natin (but the shells made a positive match with our records of Yuson here. Then we have strong evidence).” He added that they are also still looking at different possible motives on the crime. Daraga Mayor Carlwyn Baldo has been named as the mastermind of the murder, an accusation he has denied. — Vince Angelo C. Ferreras

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