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Duterte certifies AFP pension bill as urgent

MALACAÑANG on Friday said that President Rodrigo R. Duterte has certified as urgent the Military and Uniformed Personnel (MUP) Pension Reform Bill.
“We would also like to inform the media that the Military and Uniformed Personnel Pension Reform Bill has been certified as urgent and needs to be enacted soon,” Cabinet Secretary Karlo Alexei B. Nograles said in a press briefing at the Palace on Friday.
Mr. Nograles explained that the enactment of the measure is necessary “because as a result of the absence of an operational pension fund for military and uniformed personnel, their pension costs are fully borne by the government and incorporated in the GAA (General Appropriations Act) as part of the budget of the DND-AFP (Department of National Defense-Armed Forces of the Philippines) and DILG-PNP (Department of the Interior and Local Government-Philippine National Police).”
He said the cost of the MUP pension “rapidly and significantly increases yearly, which results in a fiscal burden with constant claims against the government budget.”
Mr. Nograles noted that last year, “the pension budget requirement for MUP amounted to P75.7 billion without contributions from those in active service, and will increase to around P120 Billion in 2019 to cover the recent increase in salary as provided for by Joint Resolution No. 1 signed by the President on Jan. 1, 2018.”
To address the existing fiscal threat, Mr. Nograles said that “a Unified Pension Reform Bill is being proposed, which involves the rationalization of the pension system of existing personnel. as well as new entrants to the service.”
Presidential Spokesperson Salvador S. Panelo said last Thursday that the MUP Pension Reform Bill is a proposal from the DND. The proposed measure seeks to raise the compulsory retirement age to 60 from 56 and cut the lump sum received upon retirement to 18 months’ pay instead of the current 36 months. — Arjay L. Balinbin

Comelec delivers election source code to BSP

THE Commission on Elections (Comelec) announced that the source code to be used in the automated elections in May was deposited in escrow at the Bangko Sentral ng Pilipinas (BSP) on Friday.
This comes after months of local and international source code review conducted by the Comelec. By law, the readable version of the Automated Elections System (AES) should be available for review by concerned stakeholders.
Depositing the source code with the central bank is in line with Republic Act 9369 or “The Election Automation Law.”
“This is a procedure required by RA 9369 to ensure the preservation of the integrity of the codes running the AES,” Comelec Spokesperson James B. Jimenez said in a social media message.
The election period for this year’s national and Local elections began on Jan. 13. — Gillian M. Cortez

Japan Foreign Minister to visit PHL

THE Department of Foreign Affairs (DFA) on Friday announced that Japanese Foreign Minister Taro Kono will visit the Philippines from Feb. 9 to 11.
“On the invitation of Secretary Teodoro L. Locsin, Jr., H.E. Taro Kono, Foreign Minister of Japan, will undertake an Official Visit to the Philippines from 9 to 11 February 2019,” the DFA said in a statement.
Just like the visit of Chinese Foreign Minister Wang Yi last October, Mr. Kono’s activities will take place in Davao City, the hometown of President Rodrigo R. Duterte, rather than in the nation’s capital.
Japanese Prime Minister Shinzo Abe also made an official visit to Davao City back in 2017.
The DFA said Mr. Kono will meet with Mr. Locsin in Davao City on Feb. 10 to hold bilateral discussions on the political, economic, and people-to-people engagements between the two countries, including Japan’s support for infrastructure development in Mindanao as well as the ratification of the Bangsamoro Organic Law.
Mr. Kono will also have a courtesy call with Mr. Duterte and will meet other Cabinet officials. He will also attend the inauguration of the Japanese Consulate in Davao City.
The signing of bilateral documents is also expected.
“The visit of Foreign Minister Kono is a testament to the strengthened strategic partnership between the Philippines and Japan, and an affirmation of our longstanding bilateral friendship,” the DFA said in a statement.
According to the National Economic and Development Authority, Japan remained the top provider of official development assistance (ODA) to the Philippines as of September 2018. Its loans and grants totalled $5.98 billion to account for 41.2% of the Philippines’ total ODA.
Japan is also among the biggest sources of foreign investment to the Philippines with $183.51 million recorded last October as reported by the Bangko Sentral ng Pilipinas. — Camille A. Aguinaldo

TECHNOLOGY, innovation, and education opportunities for US-Philippines bilateral relationship

TECHNOLOGY, innovation, and education are the three main areas that the Philippines and the United States should explore as partners for positive economic development in the 21st century, according to speakers at “The Future of the US-Philippines Bilateral Relationship” forum held in Makati City on Friday.
Christina Laskowski, president of the Science & Technology Advisory Council Silicon Valley (STAC SV), said there must be a policy that will enable both countries to “facilitate learning development and experience.”
“Consider immigration and employment policies that enable professionals to gain valuable IT and tech experience,” she said, noting that what is lacking among professionals in the business environment nowadays is “experience.”
She added that there must be an opportunity for citizens “to be creative and innovative.”
Ms. Laskowski is an officer and board member of several non-profit and community organizations focused on cultural awareness, empowerment, and entrepreneurship.
For his part, Diosdado Banatao, chairman of the Philippine Development Foundation, said the challenge is to get students to learn. He said investing in “design knowledge” is needed because design practice “is a necessity in the same way as innovation is a necessity in business.”
Mr. Banatao said this discipline should be incorporated in the undergraduate level curriculum. “There is a need for discussions among stakeholders…. I have not seen discussions [on this matter] at universities,” he said.
He stressed that the government, through the Commission on Higher Education, should consider including the design program in the undergraduate education.
Katrina Chan, executive director of QBO Innovation Hub, which is the Philippines’ leading public-private initiative to support startups, said that “experience and financial investments” in the country “must be strengthened.”
“Filipinos engaged in startups must be given a certain level of financial comfort to be able to pursue training and opportunities for growth,” she added.
On the chance of the Philippines to partner with the US in revolutionizing industries such as artificial intelligence, the Internet of Things, and blockchain, Mr. Banatao said: “The fastest way is for Silicon Valley companies to expand their operations here in the Philippines.”
Asked if the Philippines should just play to the success of the Silicon Valley or look at other cities for a model, Ms. Laskowski said: “Silicon Valley is Silicon Valley. The Philippines must recognize its own strengths and leverage on it as much as it can.”
The forum was organized by The Asia Foundation and the Ateneo School of Government, and funded by the US government. — Arjay L. Balinbin

Gov’t moves to fast-track land-use conversion applications

THE GOVERNMENT is preparing to issue a memorandum circular mandating concerned agencies to fast-track the processing of land-use conversion applications, Malacañang said on Friday.
Cabinet Secretary Karlo Alexei B. Nograles said in a press briefing at the Palace that various agencies are currently working together to “streamline the process involved in land conversion.”
He said the Department of Agrarian Reform (DAR) reported to the Cabinet last Wednesday that “there is an urgent need to streamline the current process for land conversion to address pending applications and to fast-track the approval and/or disapproval of new applications.”
To do this, Mr. Nograles said “different departments, namely the DAR, DILG (Department of the Interior and Local Government), DENR (Department of Environment and Natural Resources), DOE (Department of Energy), HUDCC (Housing and Urban Development Coordinating Council), NCIP (National Commission on Indigenous Peoples), NHA (National Housing Authority), LRA (Land Registration Authority), and HLURB (Housing and Land Use Regulatory Board), [among others,] have decided to work together to draft a Joint Memorandum Circular that will streamline the process of approval/disapproval of land conversion applications, from the 24-36 months, to 30 days.”
This memorandum circular, he said, will be finalized and presented to President Rodrigo R. Duterte for his approval “within 30 days or on or before the next Cabinet meeting.”
Last Thursday, Presidential Spokesperson Salvador S. Panelo said Mr. Duterte, during the Cabinet meeting, expressed his exasperation over the slow processing of land-use conversion applications.
“The President was so frustrated, he spent I think half an hour saying that he was so frustrated about the requirements… He was dismayed (about an instance) that took two years without making progress on conversion,” Mr. Panelo said in a briefing.
Sought for comment on Friday, Mr. Nograles said DAR Secretary John R. Castriciones, despite the issue, still enjoys Mr. Duterte’s trust and confidence. — Arjay L. Balinbin

ADB raises P5.22B via peso bonds for PHL projects

THE ASIAN Development Bank (ADB) raised over P5 billion in local currency bonds offered to foreign investors, with the funds meant to support projects in the Philippines.
In a statement, the multilateral lender said its recent bond float yielded P5.22 billion ($100 million) through the issuance of four-year currency-linked debt papers.
These bonds carry a fixed interest rate of 5.25%, and are denominated in the peso but will be settled using US dollars.
“The proceeds of the bonds will support ADB’s growing local currency operations in the Philippines and help to reduce foreign exchange risk for ADB’s borrowers,” the lender said on Friday.
The Manila-based development firm said investors from Asia, Europe and the Americas grabbed hold of the bonds, with global bank JP Morgan serving as sole lead manager.
ADB Treasurer Pierre Van Peteghem added that the multilateral lender has been issuing local currency bonds across ADB member-countries. Prior to this offering, the ADB previously floated bonds in the local capital market in 2005 and 2007.
The ADB raised over $23.5 billion from the capital markets through several bond issuances in 2018. In January, the Japan-led regional lender marked their maiden issuance of domestic bonds in Kazakhstan.
Last week, the ADB also bought $20-million worth of green bonds floated by Ayala Corp.’s AC Energy, Inc., which will support the firm’s renewable energy projects in the Philippines.
Headquartered in Mandaluyong City, the ADB lent $1.38 billion in 2018 to support two policy-based loans on public-private partnerships in infrastructure and financial inclusion, the Mindanao growth corridors roads project, and the emergency loans and grants to support recovery for Marawi City.
This year, ADB is looking to extend $2.5 billion to the Philippines, as part of a $7.14-billion lending program until 2021. Among the projects in the pipeline include the Malolos-Clark railway project, the EDSA Greenways project, Angat water transmission improvement project, the secondary education support project, policy-based loans on local governance, youth employment and capital markets, and a capacity-building project to foster competition, according to the ADB website. — Melissa Luz T. Lopez

Rice stocks climb at start of 2019

THE COUNTRY’S rice stocks totalled 2.55 million metric tons (MT) as of Jan. 1, up by 11.40% from the previous year’s level of 2.29 million MT, the Philippine Statistics Authority (PSA) said on Friday.
PSA’s Rice and Corn Stocks Inventory report showed that rice stocks increased in commercial warehouses but went down in households and warehouses of the National Food Authority (NFA).
Inventories in commercial warehouses increased by 40.59% to 1.21 million MT as of Jan. 1 from 857,280 MT the previous year.
Meanwhile, household stocks decreased by 5.88% to 1.25 million MT as of the start of the year from 1.33 million MT a year ago. NFA stocks also declined to 97,910 MT from 100,860 MT last year.
Household stocks contributed 48.91% to the total inventory of the staple at of Jan. 1, while commercial stocks comprised 47.25% and NFA warehouses, 3.84%.
Meanwhile, the PSA reported that the average farmgate price of palay was logged at P19.73 per kilogram (/kg) in the fourth week of January, down 0.30% from P19.79/kg a week ago.
Average wholesale price of well-milled rice was at P41.50/kg in the fourth week, lower by 0.17%. Average retail price of well-milled rice, on the other hand, was at P45/kg in the fourth week, down 0.27% from the previous week.
On the other hand, the average wholesale price of regular milled rice was at P38.25/kg, declining by 0.21% from the prior week, while average retail price was at P41.16/kg, down 0.60%, according to the PSA.
CORN STOCKS
As for the country’s corn stocks inventory, the total as of Jan. 1 was at 676,130 MT, down 28.95% from 951,600 MT at the start of 2018.
Commercial warehouses’ stocks decreased by 36.03% to 560,520 MT as of Jan. 1 from 876,180 MT the previous year. Household stocks, meanwhile, increased by 54.17% to 115,610 MT from 74,990 MT year-on-year.
Meanwhile, NFA held zero stocks of corn as of Jan. 1.
PSA data showed that the average farmgate price of yellow corngrain fell by 0.57% to P13.90/kg in the fourth week of January from P13.98/kg the previous week. Its average wholesale price, meanwhile, rose 0.05% to P20.31/kg from P20.30/kg.
The average retail price of yellow corngrain also went up 0.28% to P25.18/kg in the fourth week of January from P25.11/kg a week ago.
White corngrain’s average farmgate price, meanwhile, remained at P13.98/kg in the fourth week of January. Its average wholesale price also remained at P20.80/kg, while average retail price was steady at P28.12/kg. — RJNI

Bloomberry to replace Petron in PSE index

THE 30-member Philippine Stock Exchange index (PSEi) will see the addition of Bloomberry Resorts Corp. starting on Feb. 18, after the bourse operator’s full-year review in 2018.
In a statement issued Friday, the Philippine Stock Exchange, Inc. (PSE) said Bloomberry will replace Petron Corp. in the main index.
“The regular review of indices reflects the dynamic changes in company performance vis-a-vis the standards set by the Exchange. In turn, these indices represent the investment opportunities in the Philippine stock market,” PSE President and Chief Executive Officer Ramon S. Monzon said in a statement.
The PSE ranks companies included in the PSEi based on their liquidity and market capitalization. Firms must have a public ownership of at least 15%, and should also be eligible using relevant financial criteria.
The PSE also announced changes in the composition of sectoral indices, with the Mining and Oil index to be the lone counter that will remain unchanged.
Asia United Bank Corp. will be removed from the Financials counter. Alliance Select Foods International, Inc. will join the Industrial index, while PetroEnergy Resources Corp., Phoenix Petroleum Philippines, Inc., and SFA Semicon Philippines Corp. have been dropped.
The Holding Firms index will remove Solid Group, Inc., while the Property index will add Philippine Infradev Holdings, Inc., formerly IRC Properties, Inc.
Chelsea Logistics Holdings Corp. and Transpacific Broadband Group International, Inc. will join the Services index, while Melco Resorts and Entertainment (Philippines) Corp. (MRP) will be removed.
The PSE earlier said that MRP is already de facto delisted from the exchange, since it has made no efforts to increase its public float to the minimum 10% after majority shareholders’ tender offer last year.
The bourse operator conducts an index review twice a year. The next round of recomposition to be announced in August. — Arra B. Francia

DA eyes export of coconut oil, bananas, shrimps to Russia

THE DEPARTMENT of Agriculture (DA) aims to tap the unexplored markets of Russia for possible export of coconut oil, banana and shrimps, Agriculture Secretary Emmanuel F. Piñol said on Friday.
“With three fisheries companies already exporting their products to the Russian Federation, the Philippines is now working on the marketing of more agricultural products to the vast market, including coconut oil, bananas, shrimps and others,” Mr. Piñol said in a Facebook post.
“The DA is now organizing a trade mission which would include stakeholders of the agriculture and fisheries sector of the country to further penetrate the huge and previously unexplored market of Russia and other member countries of the Russian Federation,” he added.
Earlier, Mr. Piñol said a group of businessmen from Russia is interested to grow bananas in Camp Abubakar with an investment amount of P8 billion. The project is expected to employ about 10,000 workers composed of former rebels and their children.
The DA is set to send a delegation to Moscow, Russia in late February to have an agreement signed between Mr. Piñol and Russian Agriculture Minister Dmitry Patrushev to spell out specific areas of engagements between the two countries, which includes the interest of Russian business groups to develop agriculture and aquaculture in the Bangsamoro region.
Mr. Piñol has met with Russian Ambassador to the Philippines Igor Khovaev to finalize the arrangements on the planned visit of the local DA delegation to Russia, which will include farmer organizations from the coconut, banana, mango and fisheries sectors.
“The planning of the trade mission was primarily prompted by the efforts of the DA to find new markets for its coconut products in the face of very low prices of coco oil in the world market,” the official said.
Mr. Piñol added that he expressed to Mr. Khovaev the interest of the Philippines to import fertilizers, wheat and modern farm machinery from Russia and member states of the Russian Federation. — R.J.N. Ignacio

Cemex Philippines swings to loss in 2018

CEMEX Holdings Philippines, Inc. (CHP) suffered a net loss in 2018, pulled down by the impact of the landslide in Cebu and higher foreign exchange losses.
In a disclosure to the stock exchange on Friday, the listed cement manufacturer reported a consolidated net loss of P930 million, versus a net income of P659 million in the same period a year ago.
The company incurred a net loss of P325 million during the fourth quarter, since the firm where CHP mainly obtained its raw materials was affected by the landslide in Naga City, Cebu on Sept. 20.
It then had to source its materials from farther sources, pushing costs higher. The cost of sales accounted for 66% of the company’s sales, against 58% in the same period a year ago.
“The past quarter was a very challenging one following the landslide in Naga City. It tested the strength and resolve of all who were affected. The perseverance of the community was very inspiring even as we worked on restoring our operations to normality,” CHP President and Chief Executive Officer Ignacio Mijares said in a statement.
The company also added that higher income tax expenses recorded in the second quarter, lower operating EBITDA, and higher foreign exchange losses affected its performance for the year.
Despite the net loss, the company managed to increase its net sales by seven percent year-on-year to P23.42 million.
The private sector drove CHP’s business for the year, as residential construction remained strong, supported by the demand from overseas Filipino workers, foreign investors, and outsourcing and offshoring companies.
Meanwhile, infrastructure construction also expanded in 2018 following the 50% increase in the government’s disbursements for infrastructure and capital outlay in the first eleven months of 2018. During this period, the National Economic and Development Authority noted that nine flagship projects have broken ground.
The company remains upbeat for its prospects this year due to the expected robust demand for cement in the country.
“We are excited about the prospects for the company in 2019 and see continued strong cement demand in the country. For this reason, we remain focused on improving our operations and completing our expansion in a timely manner,” Mr. Mijares said.
CHP expects to finish construction of its new cement production line in Antipolo, Rizal by the fourth quarter of 2020. Its subsidiary, Solid Cement Corp., signed in October last year the procurement, construction, and installation agreement with China’s CBMI Construction Co., Ltd. for the facility.
Shares in CHP fell by 4.26% or 11 centavos to close at P2.47 each at the stock exchange on Friday. — Arra B. Francia

More Manila Bay establishments cited for violations

MORE establishments near Manila Bay have been cited for violations of pollution laws, according to authorities.
The Department of Environment and Natural Resources (DENR), through Laguna Lake Development Authority (LLDA), issued cease and desist orders against Makchang Korean Restaurant in Manila; Legend Seafood Restaurant in Pasay; and NetWorld Hotel in Pasay.
The establishments were cited for failing to have proper waste water treatment facilities, as the government continues its efforts to rehabilitate Manila Bay.
Ex-parte orders were also issued against San Andres Public Market in Manila; Malate Royale Development Corp — Malate Crown Plaza Condominium in Manila; Center for International Trade Exposition Center in Pasay; The Metroescapes Corporation — Seascape Village in Pasay; Antel Seaview Towers Condominium in Pasay.
Nine establishments meanwhile were given notice of violations, namely Harbour View Square in Manila; China Oceanis Inc Phils — Manila Ocean Park in Manila; SM Development Corporation Breeze Residences in Pasay; Sofitel Philippine Plaza in Pasay; Philippine International Convention Center in Pasay; Midas Hotel and Casino in Pasay; Carwash by Benjas in Pasay; Sogo Hotel along Roxas Blvd, Pasay; and Harrison Mansion in Pasay.
“Based on the recent saturation activities of LLDA in the Manila Bay area, as well as the results of laboratory analysis of water samples taken, the following establishments were found to be not conforming with the effluent standards for class ‘SB’ waters,” the LLDA said in a statement.
The saturation activities recorded were as of Jan. 24, 2019.
The DENR classifies SB waters into three categories: Fishery Water Class I which means the water is suitable for commercial propagation of shellfish and intended as spawning areas for milkfish (Chanos chanos) and similar species; Tourist Zones which means it is safe for ecotourism and recreational activities; and Recreational Water Class I which means it is intended for primary recreation such as bathing, swimming, skin diving, etc. — Reicelene Joy N. Ignacio

ATI eyes new projects

ASIAN Terminal Inc (ATI) on Friday said it is planning to launch new projects such as off-dock container yards and empty container depots, as it seeks to expand beyond its port operations in Batangas and Manila.
“As a trade enabler, we are eyeing to develop more facilities that will leverage on our existing gateway ports in Manila and Batangas to better serve our valued customers,” ATI Executive Vice President William Khoury said in a statement on Friday.
ATI identified these projects as off-dock container yards, empty container depots and other ancillary facilities.
“These projects will establish greater operational synergies to help the industry cope with current logistics challenges and also create growth opportunities in the long-term,” Mr. Khoury added.
ATI is looking to have additional capacity for empty containers by mid-2019.
Currently, ATI operates Manila South Harbor and Batangas Container Terminal, as well as an Inland Clearance Depot (ICD) in Calamba, Laguna.
ICD is a Customs-bonded facility, and has been a supply chain partner for major manufacturers and industrial zones in Cavite, Laguna and Batangas. — R.J.N.Ignacio

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