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Salute to the flag

Philippine National Police officers give a salute at the Camp Crame headquarters as the country observed National Flag Day on May 28. A simultaneous flag-raising ceremony was held at 8 a.m. in all government offices nationwide.

Bikoy in ‘narcolist’ video a no-show at DoJ

PETER JOEMEL Advincula, the man claiming to be “Bikoy” in the controversial “Ang Totoong Narcolist” (The Real Narcolist) series of videos, did not appear in Tuesday’s preliminary investigation of the estafa complaint filed against him in connection with a beauty pageant he organized in Aug. 2018. The case was filed before the Department of Justice (DoJ) last May 10. Former Bureau of Corrections Director-General Benjamin C. Delos Santos, legal counsel of complainant businessman Arven E. Valmores of Ardeur World Marketing, said the complaint was received in the last known address of Mr. Advincula in Sorsogon. The next preliminary investigation is set on June 4. While a defendant is given 15 days to file an answer to the complaint, Mr. Delos Santos said the prosecution “will be forced” to submit the complaint for resolution if Mr. Advincula will not attend the next investigation. The case stemmed from the complaint filed by Mr. Valmores alleging that Mr. Advincula used his corporate name and logo, without his consent, to promote the beauty pageant. The business owner said “Bikoy” did not attend the coronation night and was unreachable, leaving the winners and staff unpaid. Mr. Valmores said he was compelled to shell out P304,422 to pay the winners and staff due to pressure and possible negative impact on his business. Mr. Advincula on May 22 surrendered to the Philippine National Police over his estafa charges but reportedly posted bail at a Baguio Regional Trial Court where his cases were filed. — Vann Marlo M. Villegas

Iloilo court to proceed with PECO-MORE Power expropriation hearings

THE ILOILO Regional Trial Court (RTC) Branch 37 has denied the motion for reconsideration filed by Panay Electric Company, Inc. (PECO) against the hearings on the expropriation case filed by More Electric and Power Corp. (MORE Power). “The court hereby resolves that the hearing shall proceed with dispatch since the case involves electricity which is a basic necessity and vested with public interest,” Iloilo RTC Judge Marie Yvette D. Go said in an order issued May 24. MORE Power, which now holds the franchise to distribute electricity in the city, filed the expropriation case on March 11 this year to acquire and take over PECO’s assets. MORE Power said it is willing and able to deposit the amount of P481,842,450, the estimated total value of PECO’s power distribution system. MORE Power President and Chief Executive Officer Roel Z. Castro, said in a statement, “This is something positive because at least we know a hearing on our application for the writ of possession can proceed.” Another case between the two companies is pending before a court in Mandaluyong City, wherein PECO is questioning the constitutionality of the provisions of MORE Power’s franchise as contained in Republic Act 11212. — Emme Rose S. Santiagudo

DoT-Davao bats for use of locally made toiletries in hotels, resorts

DEPARTMENT OF Tourism-Davao (DOT-12) Regional Director Tanya R. Tan is pushing for the use of locally-made toiletries and other products, particularly those from the communities, in the region’s hotels and resorts. “We are working with the different tourism officers of different provinces on how we can work together and connecting the different tourism establishments to the local communities who are into crafts, production of toiletries, because when we support local that is another sustainable practice,” Ms. Tan said in an interview during the recent opening of the Flavors of Mindanao event. She added that they aim to link up with the Department of Trade and Industry to bring together the small producers and the tourism establishments. “If you want to live true to our vision and mission that is inclusive growth, so help our local communities,” said Ms. Tan, noting that the DoT is geared towards sustainable and quality tourism. “We are really preparing for long term because we are here to stay. We also want to focus on quality tourism and its not about the numbers and we’ve seen it. We did it in Boracay,” she said. DoT-11 is preparing to hold a series of workshop on sustainability for the tourism sector. — Maya M. Padillo

COTELCO-PPALMA gets 25-year franchise for power distribution in Cotabato towns

PRESIDENT RODRIGO R. Duterte has signed Republic Act No. 11322, granting legislative franchise to Cotabato Electric Cooperative, Inc.-PPALMA (COTELCO-PPALMA) to disribute power supply in the municipalities of Pikit, Pigcawayan, Aleosan, Libungan, Midsayap, and Alamada (PPALMA) in the province of Cotabato. COTELCO-PPALMA, formally established in 2012, has been operating under the old franchise of COTELCO. Apart from the six Cotabato towns, the power cooperative also serves parts of Maguindanao. Some areas under PPALMA and the entire Maguindanao province are part of the Bangsamoro Autonomous Region in Muslim Mindanao. The law allows COTELCO-PPALMA “to construct, install, establish, operate and maintain for public interest, a distribution system for the conveyance of electric power to the end users” in its designated franchise areas. The franchise “shall be for a term of 25 years from the date of the effectivity of this Act, unless sooner cancelled.” COTELCO-PPALMA will also automatically lose its license if it “fails to operate continuously for two years.” The law takes effect 15 days after its publication in the Official Gazette or in a newspaper of general circulation. — Arjay L. Balinbin

BARMM transition meeting

Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Chief Minister Murad Ebrahim meets with members of the regional Cabinet on May 27 to finalize the transition plan that will be sent to the Bangsamoro Transition Authority (BTA) Parliament for deliberation. The plan, drafted by the Coordinating Team for Transition (CT4T), serves as guideline for the shift into the new BARMM government within three years. Some of the salient points discussed during the meeting were the proposed organizational structures of the BARMM offices, gradual phasing out of personnel, and proposed seal and flag designs.

Nation at a Glance — (05/29/19)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Nation at a Glance — (05/29/19)

ING Philippines breaks new ground with its all-digital savings product

ING, which has been operating in the Philippines for nearly 30 years now, has forayed into retail banking with the launch of its pathbreaking savings product designed with digital savvy Filipino consumers in mind.

“The Philippines is primed for a savings product that’s delivered through a digital platform,” Hans B. Sicat, ING’s country manager in the Philippines. He noted that the country has a growing economy, an expanding middle class and an increasing smartphone penetration.

“At ING, our purpose is to empower our customers to achieve their ambitions and dreams, whether grand or modest. And of course, the first step is to help promote a savings mindset among Filipinos for their own growth,” Mr. Sicat said.

Hans B. Sicat, ING’s country manager in the Philippines, speak at the launch of ING’s all-digital savings product in Taguig City last May 21

ING has created a savings product that offers an attractive interest rate of 2.5% per annum for available daily balance of less than or equal to P10 million, which is substantially more than what other similar products offer. What’s more, it doesn’t require a minimum balance and there is no lock-in period. These incentives will hopefully encourage account owners to save up and achieve their financial goals.

And there are more reasons to love this new ING offering. According to Mohamed Keraine, head of retail at ING Philippines, it is the first bank savings product that allows transactions to be conducted solely on ING’s mobile app.

Creating an account is free. You only have to download the ING app and make sure you meet a number of requirements, including being at least 18 years of age and owning a government-issued ID.

ING is the first bank to be authorized by the BangkoSentral ng Pilipinas (BSP) to perform electronic onboarding of customers via mobile phone using the latest in facial recognition technology. Deposits can be done through fund transfers from other banks that are on the PESONet or Instapay platforms.

“We are pushing the boundaries of how customers can deposit, anytime, anywhere,” Mr. Keraine said.

He emphasized one particularly nifty feature of the app: You can deposit money to your account simply by taking a picture of check issued by a Philippine-based bank.

“This game-changing feature is the first ever approved by the Philippine Clearing House Corporation. Customers can transfer funds free of charge to any bank in the Philippines in just a few clicks via the ING app,” he said.

ChuchiFonacier, deputy governor of the financial supervision sector at BSP, called the new ING savings product “a milestone in the Philippine financial system” and said it will open massive opportunities for financial inclusion and digital innovation in the country.

“We welcome ING’s full use of its universal banking license with the roll-out of its retail banking service in an all-digital platform. We support ING’s use of groundbreaking technology that will enhance customer experience and encourage [a] shift to more cashless transactions,” Ms. Fonacier said.

She continued, “ING is one of the first few banks to adopt PESONet, and now, they are also connected to the Instapay platform. Both are initiatives by the BSP to promote digital fund transfers. We are happy to work with ING to move a step closer to our goal of increasing cashless transactions in the Philippines.”

An accomplished yet humble-hearted man

Remembering David L. Balangue

Accounting and auditing veteran David “Dave” L. Balangue’s life ended last April 29 after he succumbed to a lingering illness at 67. But he will always be remembered as a humble and low-profile person despite being a top-notch and an accomplished leader.

Born on Oct. 18, 1951, Mr. Balangue was a certified achiever even in his early years. He graduated with a Bachelor of Science in Commerce major in Accounting degree, magna cum laude, from Manuel L. Quezon University in 1971, and placed second highest in the 1972 Philippine Certified Public Accountant Board Examinations.

He earned a Master of Management degree, with distinction, from the Kellogg School of Management of Northwestern University in Evanston, Illinois in United States, where he received a distinguished scholar award and elected to the Beta Gamma Sigma, an exclusive business honor society.

Mr. Balangue spent most of his professional career at SyCip Gorres Velayo & Co. (SGV), the largest professional services firm in the country. Since he entered the firm in 1982, Mr. Balangue rose through the ranks and became the chairman and managing partner in 2004.

With his long and vast experience in the field, Mr. Balangue became the “go-to-guy” in SGV in either legal or ethical issues. He retired in 2009, with a total of 38 years working in the firm.

In 2012, Mr. Balangue held a government post after former President Benigno S. C. Aquino III appointed him as a commissioner of the Securities and Exchange Commission (SEC) to replace Raul Palabrica who retired in March of the same year. He was the first non-lawyer commissioner of the SEC back then.

The SEC is known as one of the powerful agencies in the government charged with supervision over the corporate sector, the capital market participants, and the securities and investment instruments market, and the protection of the investing public.

“Dave was an SGV lifer and was one of the most intelligent and hardest working colleague I worked with at SGV. He is the only Filipino I am aware of who attained a 4.0 GPA at Kellogg Graduate School of Management. He was humble, down to earth, funny and witty. He rose from very humble beginnings to the top of his profession. He was a very loyal friend.”

Mr. Balangue also sat on the board of different listed companies. He was previously an independent director of Roxas Holdings, Inc.; Phinma Energy Corp.; Holcim Philippines, Inc.; Manulife Financial Plans, Inc.; and Philippine Bank of Communications.

He also served in several private or unlisted companies, including Maybank ATR Kim Eng Capital Partners, Inc.; ATR Asset Management, Inc.; The Manufacturers Life Insurance Co., (Phils.), Inc.; OmniPay, Inc.; Unistar Credit and Finance Corporation; TransAsia Power Generation Co.; and One Subic Power Generation Co.

Mr. Balangue actively participated in different industry associations. He joined Makati Business Club (MBC) and became a member of the board of trustees and treasurer. He represented MBC and chaired the Coalition Against Corruption, an alliance of groups representing the business sector, academe, civil society, and the Church that aimed to strengthen public participation in governance and to ensure the proper use of public funds.

Among others, he served as president of Management Association of the Philippines, Philippine Institute of Certified Public Accountants, Financial Executives Institute of the Philippines, and Manila Polo Club, Inc.

Moreover, Mr. Balangue became the chairman of Standing Interpretations Committee, Accounting Standards Council; president of Halcyon TCMers, Inc.; chairman of Philippines-Korea Economic Council; chairman and president of the SGV Foundation; chairman of MAP Research and Development Foundation; trustee of Philippine Business for Social Progress; chairman of the Philippine Interpretations Committee of the Philippine Financial Reporting Standards Council; chairman of FINEX Foundation; president of the Capital Markets Development Council; chairman and president of the Makati Commercial Estate Association, Inc.; chairman of the Philippine Financial Reporting Standards Council; president of the Makati Parking Authority, Inc.; chairman of the Philippine Council for Population and Development; and chairman of the National Citizens’ Movement for Free Elections (NAMFREL).

In a social media post, former Finance Secretary Cesar Antonio V. Purisima described how great Mr. Balangue as a person was.

“Dave was an SGV lifer and was one of the most intelligent and hardest working colleague I worked with at SGV. He is the only Filipino I am aware of who attained a 4.0 GPA at Kellogg Graduate School of Management. He was humble, down to earth, funny and witty. He rose from very humble beginnings to the top of his profession. He was a very loyal friend,” Mr. Purisima wrote. — Mark Louis F. Ferrolino

An advocate for a better, brighter Philippines

As the former chairman and managing partner of accounting giant SGV & Co., David L. Balangue’s work as an accounting and auditing veteran was unparalleled, bolstered by his 38-year experience with the company. He was commemorated by former Finance Secretary Cesar Antonio V. Purisima, who served as Mr. Balangue’s predecessor at SGV, as “one of the most intelligent and hardest working” among their peers.

As former commissioner of the Securities and Exchange Commission, Mr. Balangue also played a role in building and sustaining the momentum that has fueled the economic development that the country is currently enjoying. To the Philippine business community, the loss of one of its best leaders is implacable.

But outside his career, Mr. Balangue also served as an advocate for a better, brighter future for the Philippines. The National Citizens’ Movement for Free Elections (NAMFREL) National Council once elected him to serve as their chairman, playing a key role in the organization’s objectives of steering engagement in the 2016 national and local elections.

NAMFREL focused on poll watch, voters’ education, electoral reform, campaign finance, logistics tracking, and random manual audit in the 2010 elections. Until the automation of the elections, it was primarily engaged in parallel vote count or otherwise known as Operation Quick Count.

Aside from using his experience to ensure fair and honest elections in the country, Mr. Balangue was also an active proponent in the fight against government corruption, serving as the vice-chairman of the Coalition Against Corruption (CAC), an alliance of the private sector, nongovernmental organizations, and the Church aiming to strengthen public participation in governance and to ensure the proper use of public funds.

In his role, he helped launch a fund campaign to counter misfits in the government. The campaign, called “Catching the Big Fish” project, was backed by a governance investment fund for transparency to help sustain its anti-corruption initiatives.

“We believe it is time to raise our targets while continuing to lay the groundwork for building a culture of antipathy for corruption in the local communities. We may or may not reel in the big fish in the next two years because of existing conditions but when those conditions allow, it will be much easier to finally land one,” Mr. Balangue had said, calling on those who possess reliable information on corrupt practices to cooperate with lawyers who will preserve evidence that may be used at the appropriate time.

In the course of his career, Mr. Balangue had assumed many roles, serving as an independent director on the board of several companies, including Roxas Holdings, Inc., Phinma Energy Corp., Holcim Philippines, Inc., Manulife Financial Plans, Inc., and Philippine Bank of Communications. He was also the past president of the Philippine Institute of CPAs, Management Association of the Philippines, Financial Executives Institute and The Manila Polo Club, Inc.In doing so, he had garnered significant influence and goodwill in the country’s business community.

But Mr. Balangue also understood the weight of that responsibility and played significant roles in helping steer the country towards a future in which he believed in. Without him, the country has lost one of its best advocates. — Bjorn Biel M. Beltran

DoF, DILG move to ensure local fees ‘just’

THE DEPARTMENTS of Interior and Local Government (DILG) and of Finance (DoF) are requiring local government units (LGUs) to make sure that their fees and charges are “just and reasonable” and do not impede the conduct of business.

Both departments have issued a still-unnumbered joint memorandum circular (JMC), which takes effect immediately, “for the guidance of LGUs to ensure uniform procedure in setting reasonable fees and charges, as authorized by Republic Act No. 7160, or the Local Government Code of 1991, and in order to achieve a balance between recovering cost and ensuring ease of doing business in compliance with RA 11032, or the Ease of Doing business and Efficient Government Service Delivery Act of 2018.

The circular covers all local chief executives, vice-governors, vice-mayors, sanggunian (local legislative council) members, barangay chiefs, as well as regional directors of the DILG and the DoF’s Bureau of Local Government Finance (BLGF), provincial/city/municipal/barangay treasurers and heads of LGU departments and offices.

The JMC applies to all fees and charges imposed by local governments for rendering services to the public, including business permits; barangay clearance; permit to extract sand, gravel and other quarry resources; fees for sealing and licensing of weights and measures; fishery rentals, fees and charges; fees on commercial breeding of fighting cocks, cockfighting and cockpit; fees on places of recreation that charge admission fees; fees on billboards, signboards, neon signs and outdoor advertisements; toll fees and charges; public utility charges; and service fees, among others.

The JMC provides that rates of fees and charges should be revised “at just and reasonable rates to recover cost of services” consisting of variable costs (salaries of personnel directly involved in delivering services concerned; cost of supplies and materials; as well as transport and travel expenses) and fixed costs such as cost of water, electricity and other overhead expenses comprising depreciation rates of equipment and utilities used.

The circular said the BLGF will release within 30 days a local fees and charges tool kit to guide local executives in their review.

Local governments are also required to issue executive orders within three months forming oversight committees — co-chaired by the local chief executive and the provincial/city/municipal treasurer — for such review.

The committee will, among others, review the rationale of fees and charges as well as the methodology for determination of fee rates and schedules; compute appropriate rates to recover cost; as well as submit the proposed local revenue ordinance to the local chief executive and lawmakers.

“High rates discourage investors, while low rates could compromise the revenue generation of LGUs,” Interior and Local Government Secretary Eduardo M. Año said in a press release.

“With this JMC, we are able to set the standard for the appropriate rates for the fees and charges imposed by LGUs. We encourage all LGUs to rationalize their imposed fees and charges in accordance with these guidelines, considering that the identified fees and charges must be reasonable to all concerned parties,” Mr. Año added.

“Defiant LGUs who will impose additional fees and charges not reflected in their citizen’s charters will be sanctioned.”

Sought for a comment, Philippine Chamber of Commerce and Industry Chairman George T. Barcelon welcomed the said circular, saying in a telephone interview yesterday that the Finance department “can… improve the system of payment… [of] the local government… Also ma-facilitate [payment by] the tax payers… tsaka (and) minimize some of the steps [in order] to improve efficiency.”

The World Bank’s Doing Business 2019 report — which uses Quezon City as the benchmark LGU in the Philippines — that was released in October last year placed the Philippines at 124th place out of the 190 economies tracked, down 11 places from 113th in the preceding report.

It ranked 166th (up from 173rd in the 2018 report) in terms of starting a business, 94th (up from 101st) in terms of dealing with construction permits, 29th (up from 31st) in terms of getting electricity, 116th (down from 114th) in terms of registering property, 184th (down from 142nd) in terms of getting credit, 132nd (up from 146th) in terms of protecting minority investors, 94th (up from 105th) in terms of paying taxes, 104th (down from 99th) in terms of trading across borders, 151st (down from 149th) in terms of enforcing contracts and 63rd (down from 59th) in terms of resolving insolvency. — with inputs from Vince Angelo C. Ferreras

Duterte extends mandate of tourism regulator to grant fiscal incentives

PRESIDENT Rodrigo R. Duterte has extended the authority of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) to grant incentives to tourism enterprises until Dec. 31, 2029.

Mr. Duterte signed Republic Act No. 11262 on April 10. Malacañang e-mailed to reporters copies of the law on Monday.

The new law amends Republic Act No. 9593, or the Tourism Act of 2009, which gives TIEZA “sole and exclusive jurisdiction”to grant incentives to tourism businesses, to extend implementation of the incentive scheme for tourism enterprises zones for another 10 years.

Under the old law, TIEZA had only until August 2019 to grant incentives.

Incentives that TIEZA grants tourism enterprises include income six-year tax holidays, a five percent preferential tax on gross income, exemption on all taxes and duties on imported capital equipment, as well as exemption of transport equipment and spare parts from tariffs and duties.

TIEZA is also authorized to give “equal preference to large investments” that have “great potential for employment generation and those of local small and medium enterprises.”

The Finance department is now pushing for reform that will cut the corporate income tax rate gradually to 20% by 2029 from 30% currently, in tandem with scrapping of tax holidays and other fiscal incentives deemed redundant that have been depriving the government an estimated P100-300 billion in foregone revenues a year.

Asked how this planned reform will affect incentives given to qualified tourism investors, Finance Assistant Secretary Antonio Joselito G. Lambino II said in a mobile phone message: “We are advocating an incentive regime that is performance-based, time-bound, transparent and targeted.”

“This means all laws that grant incentives should be consistent with these principles…,” he said, adding that the department will “need to carefully review the version [of the fiscal incentives reform] that is filed in the upcoming 18th Congress” that opens its first regular session on July 22.

RA 11262 also removes RA 9593’s provision that limits the existence of the Joint Congressional Oversight Committee to 10 years from May 12, 2009.

The new law also reads: “The Secretary (of Tourism) shall report to the oversight committee on a monthly basis the latest statistics on tourist arrivals and other relevant data.”

“He or she shall also report, on a quarterly basis, the status of implementation of this Act based on the monthly report submitted thereto by all attached agencies of the department with respect to the implementation of their respective programs.”

The Department of Tourism announced in a May 9 press release that 2,204,564 foreign tourists visited the country last quarter, 7.59% more than the 2,049,094 who arrived in last year’s first three months. — Arjay L. Balinbin

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