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Restaurant Row (11/22/18)

Yuletide at Okada Manila

THE Yuletide season has arrived at Okada Manila with the opening of The Garden, a lush open space which offers guests a front-row seat to views of the Manila Bay sunset and perfect for celebrations and events. Starting Nov. 15, guests will get to enjoy homemade treats created by Executive Pastry Chef Josef Teuschler, in a life-size Gingerbread House. Santa Claus is coming to town and Okada Manila will host meet-and-greets with him at Santa’s Cabin by the Crystal Corridor junction on selected dates starting Nov. 17 until Dec. 25, 3-5 p.m. The Yuletide Kiddie Jam at PLAY will be held on weekends from Nov. 17 to Dec. 16, and daily from Dec. 21 to 25, with activities aimed at children such as storytelling time with Santa, Christmas caroling, and games. Kids can come in Santa outfits to get a complimentary pass for both child and guardian for their next visit, as well as 50% off on a six-month MOON Pass. PLAY will also mark Best Friends Day on Dec. 2 and Kasambahay Appreciation Day on Dec. 9. Both events include activities like arts and crafts, Pinoy Henyo, Zumba, and more. Meanwhile there will be performances by the Himig Rizalia choir performing Christmas songs on all weekends of December until the 23rd. For details on upcoming events and promotions, visit www.okadamanila.com.

Cordilleran cuisine

BAGNET KARE-KARE at Holiday Inn Baguio

HOLIDAY Inn Baguio City Centre’s Lamisaan Dining & Bar offers “Classic and Nouvelle Ilocano Cuisine” this November in daily breakfast buffets, and special themed buffets on Saturday night and Sunday brunch, and a la carte dishes that showcase the region’s diverse produce. Dishes include Carpaccio di La Trinidad with beetroot, fresh fern, watercress feta cheese, Sagada orange, drizzled with honey-calamansi dressing; Sinigang na Salmon sa Sampaloc, given a Cordilleran touch with watercress; and Chicken Supreme de Cordillera combines seafood and meat by stuffing the chicken with crustaceans and finished with organic yogurt-garlic dressing. The restaurant serves steamed highland rice. A hotel specialty is the Trio of Air-Fried Bagnet, which is the classic bagnet cooked first as binagoongan, then as kare-kare; and last as adobo, served with 64-degree egg and pickled watermelon skin. For details visit www.holidayinn.com/baguio or call (074) 620-3333 or (632) 571-6079.

Bottomless Fridays

EASTWOOD CAFÉ+BAR offers “Bottomless Bar Fridays,” serving unlimited quality bar drinks and bar chow buffet from 8:30 p.m. to midnight for P600 nett. Presented in partnership with Emperador Distillers, this drink-all-you-can offer features bottled drinks that include Smirnoff Mule, Andy Cola, and Raffa Sparkling Wine, and cocktail concoctions. One can also drink all you can local beers for P750 nett. For inquiries and reservations, call 570-7777.

Thanksgiving at Crimson

CRIMSON HOTEL celebrates Thanksgiving

THE Crimson Hotel will be serving a Thanksgiving dinner buffet on Nov. 22 from 6 to 10 p.m., featuring a classic Thanksgiving menu including roast turkey, honey roasted ham, and baked wrapped whole grouper for P1,600 net per person. The hotel is also serving Christmas Afternoon Tea daily until Dec. 31 at The Lobby Lounge for P750 net for two people.

Marriott Christmas

A LIFE-SIZED gingerbread train is parked at the lobby of the Marriott Hotel Manila until Dec. 26 and is loaded with all sorts of holiday treats. Meanwhile, the Marriott Café will be serving Thanksgiving Dinner on Nov. 22, 6:30 p.m. to 10:30 p.m. for P2,800. There will also be Festive Sunday Brunches throughout December, plus Noche Buena, Christmas Lunch, Christmas Dinner, New Year’s Eve, New Year’s Lunch, and New Year’s Dinner at the café. Cru Steakhouse’s Bistro will also be serving special lunches on Christmas Day and New Year’s Day. The hotel also offers special holiday meals for order and pick-up including the Holiday Turkey Roast Package which includes stuffing, macaroni and cheese casserole, sautéed baby potatoes, roasted organic sweet carrots, green beans and cauliflower cassoulet, and a chef’s garden salad, plus mushroom gravy, cranberry sauce, and walnut and pumpkin pies (P6,600); a Smoked Bone-in Ham Package which includes whipped potatoes, sautéed Brussel sprouts, roasted organic sweet carrots, corn on the cobb, penne pasta salad, and garlic gravy, pineapple sauce, and apple and pumpkin pies (P5,600)

Andrew Café’s holiday cake

ANDREW CAFÉ welcomes the holidays with the Dainty Mini Lemon Holiday Chiffon Cake. It comes in 15 squares topped with festive frostings in customizable letters and messages, plus shapes of favorite iconic Christmas symbols, in fondant — perfect as dessert at reunions and parties. Andrew Café is located at the De La Salle-College of Saint Benilde Taft Campus, corner of Estrada and Leon Guinto Stts, Malate, Manila. It is open Mondays to Fridays from 7 a.m. to 6 p.m. and on Saturdays from 7 a.m. to 5 p.m.

Holiday at Belmont Manila

AS PART of its continuing third anniversary treat, the hotel is offering the Ghouls Night Out Buffet on all Fridays and Saturdays of November with a spread that includes pumpkin cheesecake, seared mojito mahi mahi, callos Madrileños, and arroz con pollo for P1,100 nett per person. There are also themed executive lunches — Brunch Buffet on Tuesdays, Healthy Buffets on Thursdays, and Mongolian Spread on Sundays for P500 nett per person. There is a nightly bottomless Heineken Draught Beer promo with a complimentary grub of choice for P1,200 nett per person at Rooftop 11. For promos and updates, visit www.belmonthotelmanila.com.

Banks execute first trades under peso-renminbi spot facility

MEMBER BANKS of the peso-renminbi spot trading facility have executed their first batches of trade following its establishment last month.
In a statement, the Bank of China said it has rolled out the first batches of peso-renminbi exchange on Tuesday alongside Asia United Bank Corp.(AUB), BDO Unibank, Inc., EastWest Banking Corp., Metropolitan Bank & Trust Co. (Metrobank) and Rizal Commercial Banking Corp. (RCBC).
“This marks a big day in our community’s history, as the trades symbolize the beginning of a growing RMB (renminbi) market in the Philippines,” RMB Trading Community Chairman Deng Jun was quoted as saying in the statement.
“The Philippine RMB Trading Community aims at promoting the [peso-yuan] market, and creating an end-to-end platform for the convenient and cost-effective conversion between pesos and RMB,” added Mr. Deng, who is also the country head of Bank of China.
Bank of China led the signing of an agreement with banks operating in the country to create the Philippine RMB Trading Community last Oct. 30.
The local lenders were AUB, Bank of Commerce, BDO, Bank of the Philippine Islands, China Banking Corp., East West Bank, Metrobank, Philippine Bank of Communications, Philippine National Bank, Philippine Business Bank, RCBC, Sterling Bank of Asia, Security Bank Corp. and UnionBank of the Philippines.
With the peso-yuan exchange facility, companies and individuals trading with Chinese counterparts can directly convert payments and remittances to the renminbi in big volumes, doing away with passing through the US dollar.
Bangko Sentral ng Pilipinas Deputy Governor Chuchi G. Fonacier said the spot market will “definitely” ease volatility in the peso-dollar market because there will be an alternative currency.
The organization of the trading community is part of a three-stage Development Plan of Bank of China and Philippine Dealing System Holdings Corp. to develop the domestic renminbi services in the country.
The Philippines and China have grown closer under this administration. Yesterday, Chinese President Xi Jinping concluded his two-day state visit to Manila where the two countries signed at least 29 bilateral agreements. — K.A.N. Vidal

How PSEi member stocks performed — November 21, 2018

Here’s a quick glance at how PSEi stocks fared on Wednesday, November 21, 2018.

 
Philippine Stock Exchange’s most active stocks by value turnover — November 21, 2018

Has the pivot to China yielded tangible benefits? let us count the ways…

Has the pivot to China yielded tangible benefits? let us count the ways…

FEU nips DLSU in thriller

By Michael Angelo S. Murillo
Senior Reporter
THE Final Four cast of University Athletic Association of the Philippines Season 81 is now complete after the Far Eastern University Tamaraws pulled the victory from the De La Salle Green Archers, 71-70, in their one-game playoff on Wednesday at the Smart Araneta Coliseum.
Arvin Tolentino towed his team to the victory with a dagger three-pointer in the dying seconds to keep FEU’s season alive while sending La Salle to vacation-ville.
FEU took early control of the match, racing to an 11-8 advantage in the first five minutes on the strength of hot shooting from beyond the arc.
But La Salle would charge back for much of the remainder of the opening quarter, temporarily seizing the lead, 21-19, with 18 seconds left.
The Tamaraws had the last laugh in the first canto though, reclaiming the lead, 22-21, with a triple from Axel Inigo with a second to go.
The two teams continued to slug it out to start the second quarter, fighting to a 29-27 count for La Salle at the 6:21 mark.
La Salle extended its lead to 33-29 two minutes later, behind Andrei Caracut and Justine Baltazar, before settling for a two-point cushion, 38-36, at halftime.
Pounding on the inside, the Tamaraws took command early in the third period.
They overtook the Archers, 45-43, with 4:57 remaining in the quarter.
La Salle tried to seize control of the game but Barkley Eboña and the rest of the Tamaraws did not allow it to.
FEU entered the final frame holding a 54-51 advantage.
With the outcome of the match still to be determined, the two squads jockeyed hard at the start of the fourth.
The Tamaraws continued to hold sway, 59-56, after three minutes.
La Salle, however, kept the pressure on FEU after, taking the lead, 62-60, at the 4:30 mark following two free throws from Santi Santillan.
Eboña then levelled the count at 62-all 30 seconds later with a deuce in the paint.
The Archers entered the last two minutes holding a two-point lead, 66-64, before Santillan extended it to four, 68-64, with 1:27 left.
FEU sued for time after to craft a play, which bore fruit from the charity stripe care of Jasper Parker to make it a two-point game, 68-66, with 1:22 to go.
La Salle though responded with Aljun Melecio connecting off a drive to create added distance, 70-66, with a minute remaining.
Kenneth Tuffin drained a long two to push FEU to within two, 70-68, at the 39-second mark.
The Archers had a chance to bury the Tamaraws some more but the jumper of Joaqui Manuel failed to hit the mark, leaving the door open for FEU.
The Tamaraws then brought the ball down, eventually finding Tolentino who calmly drained a triple and give his team the lead, 71-70, with three seconds left.
La Salle tried to salvage the win but the heave of Santillan as time expired did not go in which handed the victory to FEU.
Tolentino top-scored for the Tamaraws with 15 markers with Ebona finishing with a double-double of 12 points and 15 rebounds.
Tuffin and Richard Escoto also were in double digits in scoring with 11 and 10 points, respectively.
Santillan, meanwhile, led La Salle with 20 points.
Unfortunately, after him no other Archer scored beyond nine points.
“I like how my players responded all season long. They just not give up. I guess it is just fitting that we enter the Final Four this way,” said FEU coach Olsen Racela following their victory.
The Tamaraws now make a short turnaround as they face the defending champions and top seeds Ateneo Blue Eagles in the Final Four on Sunday, Nov. 25, with a twice-to-win handicap.
For La Salle, the defeat saw it end the season on a whimper as it slumped to a third straight defeat.

Buzzer-beater sends Raptors past Magic

LOS ANGELES — Danny Green hit a six-foot jump shot at the buzzer to give the visiting Toronto Raptors a 93-91 victory over the Orlando Magic on Tuesday night.
The winning shot off a pass from Kyle Lowry came after Evan Fournier tied the game for Orlando on a dunk with 2.3 seconds to play.
Kawhi Leonard led Toronto with 18 points, Pascal Siakam had 15 points and nine rebounds, Serge Ibaka had 14 points and nine rebounds and Green scored 13.
Fournier led Orlando with 27 points, Aaron Gordon had 16 points and nine rebounds and Nikola Vucevic had 14 points and 18 rebounds.
TRAIL BLAZERS 118, KNICKS 114
CJ McCollum scored 13 of his 31 points in the fourth quarter and helped Portland get past host New York. Damian Lillard added 29 points for the Trail Blazers.
Portland came back from a 10-point deficit and outscored the Knicks 53-39 in the final 19:15. McCollum made 13 of 23 shots and posted his third game of at least 30 points this season as Portland won for the sixth time in eight games.
Tim Hardaway Jr. scored 32 points, but his third straight game of at least 30 points was not enough for the Knicks, who dropped their sixth straight despite shooting 50.6 percent.
NETS 104, HEAT 92
D’Angelo Russell scored 20 points as Brooklyn sent host Miami to its fifth straight home loss, the Heat’s worst home skid since 2014.
The Nets, who had lost four of their past five games, also got 13 points, 14 rebounds and two blocks from Jarrett Allen. Russell, who added nine rebounds and six assists, scored eight of his points in the fourth quarter.
Hassan Whiteside led Miami with 21 points and 23 rebounds — both game highs. Josh Richardson added 16 points, and Rodney McGruder scored 15 points.
WIZARDS 125, CLIPPERS 118
John Wall scored 30 points, Bradley Beal added 27 and the Washington Wizards rallied from 24 points down in the first half to defeat the visiting Los Angeles Clippers 125-118 on Tuesday night.
Reserve Jeff Green scored 20 points on 8-of-11 shooting for the Wizards, and Otto Porter Jr. contributed 11 points and 14 rebounds.
The Wizards trailed by nine to start the fourth quarter, and Wall’s 3-pointer with 8:12 left cut the deficit to 101-97.
Back-to-back threes by Green soon pulled the Wizards within two points, and Markieff Morris (12 points) hit a corner three to give Washington its first lead, 110-109, since the opening minutes.
Green’s dunk off a feed from Morris made it 119-113 with 1:16 remaining, and Morris soon added two free throws to cap an 8-0 run.
Tobias Harris had 29 points and nine rebounds for Los Angeles, which had won five straight. Montrezl Harrell scored 20 off the bench and had nine rebounds.
The Clippers, who were 8-0 when leading to start the fourth quarter, finished with 17 turnovers while playing the second of back-to-backs.
Los Angeles led by 19 at halftime, but Wall and Beal sparked an 11-2 run that pulled the Wizards within 81-70 with 4:56 left in the third quarter. Washington got within 95-86 by the end of the quarter.
Washington snapped a two-game losing streak one day after reports surfaced involving management’s apparent willingness to break up the team and about verbal altercations that took place last week during practice.
The Wizards were without center Dwight Howard (a recurrence of gluteal soreness). Thomas Bryant started for Howard, and coach Scott Brooks inserted forward Kelly Oubre Jr. in place of Morris.
The game was tied 7-7 early in the first quarter before the Clippers went on a 31-11 run. Los Angeles made 5 of 8 from 3-point range in the quarter, and Harris scored 18 points in the quarter on 7-of-9 shooting. — Reuters

Azkals hold Thailand to 1-1 draw in Suzuki Cup match

By Michael Angelo S. Murillo
Senior Reporter
THE Philippine men’s national football team’s steady form in the ongoing 2018 AFF Suzuki Cup continued on Wednesday night as it held defending champion Thailand to a 1-1 draw in their battle of unbeaten teams in Group B of the tournament at the Panaad Park and Football Stadium in Bacolod City.
Found themselves behind early in the second half, the Philippine Azkals dug deep and stayed resilient and were accordingly rewarded when substitute Joven Bedic connected late in the match to level the count and hold such the rest of the way to force the draw, and for the two teams to share the spoils with a point each while also holding a share of group leadership heading into the final matches on Nov. 25 .
The Azkals had their chances in the opening half but could not complete them.
In the second half, the visiting War Elephants beat the Azkals to the draw and broke the nil-nil tie in the 56th minute care of Supachai Jaded.
The hosts scrambled to get the point back after.
In the 78th minute, Joven Bedic came in to replace Stephan Palla, a move that would pay dividends for the Sven-Goran Eriksson-coached Azkals as Mr. Bedic scored the equalizer three minutes later as he right-footed a shot from outside the box to find the bottom of the net.
The two teams tried to still go for the victory for the remainder of the contest but no goals were to come en route to the draw.
“I think we played well the whole 90 minutes and for me we were the better team for we created more opportunities. One-one is okay. We could have won it but I’m very happy of the performance of the team. I think they did well against a very good team,” said Mr. Eriksson after the game.
“If we play like this I think we can qualify for the semifinals and that is good for the future,” he added.
The draw pushed both Thailand and the Philippines to seven points after three matches, a point up from the third-running Singapore.
In the Suzuki Cup, the top two teams from each group at the end of the classification round advance to the crossover semifinals.
The Philippines faces off with already-eliminated Indonesia on Sunday while Thailand battles Singapore.

NFA to take applications for private rice import licenses

COMPANIES interested in the open rice importation program may start filing applications today, Agriculture Secretary Emmanuel F. Piñol said, noting that there is no need to wait for the passage of the rice tariffication bill to proceed with the implementation of the measure.
In a news conference on Wednesday, Mr. Piñol said that the National Food Authority (NFA), however, will be evaluating applicants based on their financial, warehousing and retailing capabilities.
“The purpose of the importation is to bring down the price of rice. Why would I wait for the bill? What if it takes long? We’ll be facing complaints if rice prices rise again,” Mr. Piñol said.
“There are guidelines on who are qualified to import. It’s going to be open but we will be very strict in the implementation of the evaluation… This will effectively weed out fly-by-night importers,” Mr. Piñol said.
Mr. Piñol said the 10% of the importer’s net worth is the volume cap, with sufficient warehousing to hold all the rice on order.
Mr. Piñol said he does not believe the imports will flood the market with rice as the importers will determine when to stop importing.
“According to our assessment, although some people fear a flooding of imported rice in the market, I don’t think that will happen. When the importers see large volumes on the market and the prices go down to a level where they cannot make money, they will stop importing,” Mr. Piñol said.
He noted that “the absorptive capacity of the market will set the cap.”
Mr. Piñol said that the NFA Council has yet to discuss the removal of the minimum access volume (MAV) next year, noting that such a move would be overtaken by rice tariffication.
Mr. Piñol said he does not want the NFA to be abolished as it can co-exist with rice tariffication.
“I am not in favor of the proposal to abolish NFA because it will effectively deprive poor families access to subsidized rice,” Mr. Piñol said. — Reicelene Joy N. Ignacio

Senate ‘worst-case’ is Jan. budget passage

THE SENATE is targeting passage of the proposed 2019 budget by Dec. 12, after the House of Representatives approved the measure on Tuesday, but the chamber also continues to hedge on the prospect of discussions extending to January and a re-enacted budget for the first month of 2019.
“It’s very difficult to be able to discuss intelligently and lengthily pertinent provisions of the budget at this short period of time. So the realistic scenario we are looking is that we can pass this in the Senate by Dec. 12,” Senate Majority Leader Juan Miguel F. Zubiri told reporters.
“(Dec. 12) is the best-case scenario. Worst-case scenario is we will continue (deliberations) when we return (in January),” he added.
The House of Representatives on Tuesday approved on third reading the P3.757 trillion national budget for 2019, ahead of its Nov. 28 deadline.
Despite the House approval, Mr. Zubiri said the prospect of a re-enacted 2018 budget, which is called for if Congress fails to pass the measure before the end of the year, will cover only January. He said Congress will also need to convene the bicameral conference committee after Dec. 12 once the Senate passes the bill.
“At the very least, the week of Jan. 14, 15, 16 is the ratification… Technically, we may have to have a re-enacted budget between two weeks to one month,” he said.
He is also proposing to the members of the Senate whole-day sessions on Dec. 6 and 7 to discuss the budget.
However, he added that many senators, such as Senate President Pro Tempore Ralph G. Recto and Senator Panfilo M. Lacson, are expected to have much to say on the items in the General Appropriations Bill.
“That’s why we’re making a realistic assumption that we might not finish the budget approval on Dec. 12. At the very best, we can approve on Dec. 12 for third reading, but the bicam will still be working during the break. Ratification will be when we come back on Jan. 14, 15, 16,” he said.
Mr. Zubiri said senators have conveyed their estimated timetable to Speaker Gloria M. Arroyo following their joint call with Chinese President Xi Jinping in Taguig City.
Asked about Ms. Arroyo’s reaction to the Senate’s timetable, he said, “she was quiet about it. She was hoping that we can pass it earlier.”
He added that Ms. Arroyo assured the Senate that the budget bill will be transmitted to the Senate on Monday, Nov. 26.
In a statement on Wednesday, House Majority Leader Rolando G. Andaya said the chamber respects the Senate’s timetable for passing the budget.
“Like any measures, the Senate reviews, and in the process rejects or accepts, the improvements and amendments we have made on the national budget,” he said.
“It is also in the same constructive spirit that we will treat and assess the Senate changes to the national budget when it is sent to a House-Senate conference for reconciliation,” he added.
On the possible delay in the passage of the 2019 budget, Mr. Andaya said the chamber is expecting that a re-enacted budget will be in force “during a short, interim period” and will not affect the operations of government. — Camille A. Aguinaldo

Firms ask Palace to clamp down on ‘exorbitant’ shipping

BUSINESSES have called on the President to order the Maritime Industry Authority (MARINA) to exercise its regulatory authority over shipping companies and clamp down on “exorbitant destination charges.”
In an open letter to President Rodrigo R. Duterte published in a newspaper on Wednesday, the Port Users Confederation of the Philippines, Inc. (PUCP) said it wants MARINA to be in charge of streamlining the fee structures of international shipping companies.
“We… recommend that an Executive or Administrative Order be issued authorizing MARINA to register and accredit local agents of international shipping lines and other similar enterprises, and strengthening its regulatory and supervisory functions, including the vetting of all shipping charges,” it said.
The PUCP said agents of international shipping lines are imposing “destination charges,” which are sometimes as high as 50 times the actual freight rate.
“These charges… escalate import costs of countless products, which Filipino consumers and businesses ultimately bear. This imposes hardship on families, and erodes the earnings and competitiveness of our enterprises,” it said.
These fees include container deposits, container cleaning fees, terminal handling costs and document fees, which the PUCP said requires review and rationalization from the MARINA.
“It is our humble opinion that MARINA can undertake regulation of the local agents of international shipping lines in order to streamline public services and remove excessive fees burdening consumers and businesses,” noting that shipping and freight forwarding agencies, including similar enterprises, fall under the jurisdiction of the agency.
MARINA was asked for comment on the group’s letter but had not provided any at deadline time.
Among the signatories in the PUCP’s letter are the Philippine Exporters Confederation, Inc. (PhilExport); Federation of Customs Brokerage Companies of the Philippines (FCBC) and Philippines Integrated Exporters, Inc. (PIE). — Denise A. Valdez

PHL signs new air deal with Switzerland

THE Philippines and Switzerland signed on Tuesday a new air services agreement allowing unlimited flights between the two countries except on the Manila-Zurich route.
Department of Transportation (DoTr) Undersecretary for Aviation Manuel Antonio L. Tamayo said in a message to reporters late Tuesday that airlines from both countries may now proceed under no restrictions on service, except for Manila-Zurich, where frequencies are restricted to seven a week, to be raised to 14 after a year.
Current limits on Manila-Zurich flights are three times a week.
“The delegations… agreed that the designated airlines of both parties may exercise unlimited direct flights with third and fourth freedom traffic rights between Switzerland and the Philippines, except to Zurich and Manila, for which 7 frequencies per week per side was agreed on. These will be increased to 14 frequencies each side one year after the date of signing of the Memorandum of Understanding,” he said.
The third freedom is the right to offer service between one’s home country and another country, while the fourth freedom is the right to offer service from another country to its home country.
“Switzerland is a key component for good air access to Europe and, aside from being a direct connection, (offers) possible fifth-freedom support or connections for at least 17 European, Middle Eastern, or Asian destinations with which the Philippines has air agreements,” the DoTr said in a statement.
The fifth freedom is the right to offer service between two foreign countries if the flight originates or ends in an airline’s own country.
Aside from air talks with Switzerland, the DoTr said it also signed a memorandum of understanding (MoU) with Thailand on Tuesday for a new air services agreement.
While the government refused to give details on the target frequencies and freedom rights for the new air deal, it said the MoU guarantees no restrictions on passengers and cargo capacity between the Philippines and Thailand.
“The agreement… is now aligned with ASEAN multilateral agreements opening up travel, tourism, and trade within and among the 10-country bloc,” it said. — Denise A. Valdez

DoLE to crack down on foreign-controlled recruitment agencies

THE Department of Labor and Employment (DoLE) said that it will look into recruitment agencies operating with dummy Filipino ownership that are in fact controlled by foreign nationals.
Speaking to reporters on Wednesday, Labor Undersecretary Jacinto V. Paras that DoLE will investigate licenses of recruitment agencies that are partly owned by foreigners, to monitor compliance with the 25% cap on foreign ownership set out in the 10th Foreign Investment Negative List issued by the previous government in 2015 and left unchanged in the 11th FINL issued in October.
“We’ll be looking at license holders, especially those whose stockholders and incorporators are foreigners,” he said.
On Wednesday, DoLE consulted recruitment agency owners regarding the operations of a task force against illegal recruitment and trafficking.
Philippine Overseas Employment Administration (POEA) Governing Board Private Sector Representative Estrelita S. Hizon said she backed a crackdown on foreign ownership beyond the allowed limits, which she said will act as a deterrent for agencies illegally operated by foreign nationals.
Ms. Hizon, who owns and operates a recruitment agency, said she wants a “two-year” phaseout period, noting that many recruitment agencies are owned by Philippine dummies be controlled by foreign recruiters.
“There are those who use a Filipino dummy but the ones behind are foreigners. That cannot be… We have a hard time because we’re following the rules,” she said on Wednesday.
Mr. Paras called the phaseout a drastic measure to completely halt foreign operation of recruitment agencies.
“The only way to eradicate (the practice) is through the moratorium proposed by the stakeholders,” Mr. Paras said.
On the other hand, the labor undersecretary also raised concerns over the “job seekers visa” offered by the United Arab Emirates (UAE) this year. He said this type of visa contradicts bilateral agreements of the Philippines with the UAE.
“The job seekers visa is contrary to the bilateral agreement,” he said, which contains worker protections that address Philippine concerns about trafficking.
He called on the Department of Foreign Affairs (DFA) “to make a representation… because we are coursing our deployments through the proper channels (set out in) the bilateral agreement.”
Mr. Paras said that a Filipino worker who is given a job seeker visa won’t be covered by the protections and benefits he is entitled to under Philippine law, to be provided by the recruiter.
“They will be under the control and direction of whoever is their employer there,” he said.
POEA Memorandum Circular No. 8, Series of 2018 issued in April states that foreigners are not allowed to directly hire Filipinos for overseas employment with exceptions given only to members of the diplomatic corps; members of international organizations; and heads of state/government officials with at least a deputy minister rank. — Gillian M. Cortez

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