FERDINAND “Bongbong” R. Marcos, Jr., who lost the vice-presidential race in 2016, asked the Presidential Electoral Tribunal (PET) to direct the Commission on Elections (Comelec) to submit its findings on the technical examination of some precincts in three provinces in the Administrative Region in Muslim Mindanao (ARMM). In his urgent motion for resolution, Mr. Marcos, through his legal counsel George Erwin M. Garcia, cited the June 5 findings of the Comelec-Election Records and Statistics Department (ERSD) on election returns and election day computerized voter’s list (EDVLC) that 508 precincts in the provinces of Lanao Del Sur, Maguindanao, and Basilan were “marked with different forms of election fraud such as massive substituted voting.” Mr. Marcos filed an election protest on June 29, 2016. Vice-President Maria Leonor G. Robredo’s chief legal counsel and senatorial bet Romulo B. Macalintal, reacting to the new filing, said: “(H)uwag niyong paniwalaan iyan. Iyan ay espekulasyon lang ni Mr. Marcos at gusto lang niyang buhayin iyong kanyang protesta na sa ngayon ay malapit na sa kamatayan (Do not believe in that. That is mere speculation of Mr. Marcos and he just wants to revive his case, which is close to its end).” — Vann Marlo M. Villegas
THE NATIONAL Democratic Front of the Philippines (NDFP) called for the immediate release of one of its peace consultants, Frank Fernandez, who was recently arrested. “We demand that Frank Fernandez and his companions be released immediately as a matter of principle, justice and humanity,” said NDFP Peace Negotiating Panel Chairperson Fidel V. Agcaoili in a statement late Monday. Mr. Fernandez, a former priest who joined the communist movement in the 1980s, was arrested along with his wife and a staff for the rebel group in an operation last Sunday for charges of murder. Mr. Agcaoili said, “For humanitarian considerations alone, he should not have been arrested and allowed to receive unhampered medical treatment.” He added that the arrest is considered a violation of “international humanitarian law and the minimum prison standards recognized by civilized nations” as well as the Joint Agreement on Safety and Immunity Guarantees (JASIG). Presidential Peace Adviser Carlito G. Galvez, Jr. has said that the JASIG is no longer in effect following the cancellation of the peace talks. — Vince Angelo C. Ferreras
THE SUPREME Court will open its electronic library (SC e-Library) to the public by June, 15 years after it was launched. In a press statement, the SC said the e-Library project is intended “to enhance transparency and provide better access for lawyers, law professors, law students, and legal researchers to decisions, resolutions, issuances, and rules of the court.” SC Public Information Office Chief Brian Keith F. Hosaka said the court is aiming to have the actual opening coincide with the launch of the SC’s improved Web site on or before the High Court’s 118th Anniversary on June 11. The SC e-Library, launched in 2004 and spearheaded by Senior Associate Justice Antonio T. Carpio, is a database of jurisprudence, including SC decisions and resolutions from 1901 to the present, past and present laws, SC issuances such as present and past Rules of Court as well as resolutions on administrative matters. References include bench-books, books catalogues of court libraries, and an index to Philippine periodicals. There will also be a ‘Memorabilia Room’ of past and retired SC justices. — Vann Marlo M. Villegas
SHELLFISH COLLECTED from San Pedro Bay in Western Samar, Lianga Bay in Surigao del Sur, and the coastal waters of Dauis and Tagbilaran City in Bohol are positive for paralytic shellfish poison beyond the regulatory limit, the Bureau of Fisheries and Aquatic Resources (BFAR) said on Monday.
In an advisory, BFAR said that all shellfish and Acetes species (alamang) collected from these bodies of water are “not safe for human consumption.”
“Fish, squids, shrimps, and crabs are safe for human consumption provided that they are fresh and washed thoroughly, and internals such as gills and intestines are removed before cooking,” BFAR said.
Areas in Luzon free from the toxic red tide are: coastal waters of Cavite, Las Piñas, Parañaque, Navotas, Bulacan and Bataan in Manila Bay; coastal waters of Bolinao, Anda, Alaminos, Sual and Wawa, Bani in Pangasinan; coastal waters of Pampanga; Masinoc Bay in Zambales; coastal waters of Milagros, Mandaon and Placer in Masbate; Juag Lagoon; Matnog and Sorsogon Bay in Sorsogon; Honda and Puerto Princesa Bays, Puerto Princesa City and coastal waters of Inner Malampaya Sound; Taytay in Palawan.
For Visayas, the following areas are free from red tide: coastal waters of Gigantes Islands, Caries in Iloilo; coastal waters of Pilar, Panay, President Roxas and Roxas City in Capiz; Sapian Bay (Ivisan and Sapian in Capiz; Mambuquiao and Camanci, Batan in Aklan); Altavas, Batan, and New Washington in Batan Bay, Aklan; coastal waters of E.B. Magalona; Talisay City, Silay City, Bacolod City, Hinigaran and Victorias City in Negros Occidental; Tambobo and Siit Bays, Siaton and Bais Bay, Bais City in Negros Oriental; coastal waters of Daram Island, Maqueda, Villareal, Irong-Irong and Cambatutay Bays in Western Samar; Matarinao Bay in Eastern Samar; coastal waters of Leyte, Calubian, Cancabato, Carigara and San Pedro Bays in Leyte; and coastal waters of Biliran province.
In Mindanao, the red tide-free areas are: Damanquillas Bay in Zamboanga del Sur; Tantanang Bay in Zamboanga Sibugay; Murcielagos Bay in Zamboanga del Norte and Misamis Occidental; Taguines Lagoon; Benoni; Mahinog in Camiguin Island; Balite and Pujada Bays; Mati in Davao Oriental; and Hinatuan and Bislig Bays in Surigao del Sur. — Reicelene Joy N. Ignacio
THE METROPOLITAN Manila Development Authority (MMDA) and the Metro Manila Council (MMC) have agreed to standardize the “no window hours” policy for the number coding scheme on all national roads and Mabuhay Lanes.
Under the scheme, vehicles banned on a certain day of the week depending on the last digit of the license plate or conduction sticker cannot traverse major thoroughfares and Mabuhay lane routes between 7 a.m. and 8 p.m.
The MMDA also said that members of the MMC, composed of mayors in the capital, have agreed to amend their respective number coding schemes and traffic code to align it with the policy.
“We requested standard na tayo, wala nang may (that it be standardized, that there will be no more) ‘window’… of course except (for those that do not implement the) coding like Marikina, Taguig, and Navotas,” said MMDA General Manager Jose Arturo S. Garcia Jr. in an interview with reporters on Tuesday.
He cited that among the national roads covered are EDSA, Commonwealth Avenue, Roxas Boulevard, and Marcos Highway. EDSA BUS TERMINALS
The MMDA and MMC also approved the resolution prohibiting the issuance of business permits for public utility bus terminals along EDSA.
Mr. Garcia said they had a meeting last Monday with Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Martin B. Delgra III and Department of Transportation (DoTr) Undersecretary Alberto H. Suansing, where they agreed that all bus terminals along the major thoroughfare would be out by June.
Mr. Garcia said the plan is to have all provincial buses originating from northern Luzon to stop at the Valenzuela City terminal, while those from the south in Sta. Rosa, Laguna.
He said the terminals have an area of about 5 hectares each, which would be enough to accommodate all provincial buses.
“I just learned today na yung (that the) 96 terminals sa (in the) whole Metro Manila, ang sukat niya ay (is only) 1.6 hectares,” he said.
The closure of provincial bus terminals along EDSA is intended to help ease traffic flow
Mr. Garcia said a dry run of the new arrangement will be conducted after the Holy Week in April to prepare commuters and operators. — Vince Angelo C. Ferreras
33,000 rice farmers in Iloilo affected by dry spell
ABOUT 30% of the 110,000 rice farmers in Iloilo province have been affected by the prevailing El Niño phenomenon, and the Provincial Agriculture Office (PAO) is already anticipating that it would not be able meet the one million metric ton (MT) target production this year. “With the present condition, Iloilo’s one million metric tons target harvest for rice may not be achieved. We are expecting that our rice production for this year will really be affected,” said Provincial Rice Report Officer Nancy C. Superal. The 33,000 affected farmers are those who planted during the second cropping season late last year. In 2018, Iloilo was the top rice producer in Western Visayas and the country’s fourth with an output of 939,332 MT, according to the Department of Agriculture–Region 6 (DA-6). Ms. Superal advised farmers to adopt technology and appropriate inputs once the next cropping season starts to recoup the losses caused by El Niño. OTHER PROVINCES
In other parts of Western Visayas, about 547.52 hectares of rice areas have been affected in the municipalities of Patnongon and Culasi, with an estimated loss of over P10.4 million, based on DA-6 data. The Regional Disaster Risk Reduction and Management Council (RDRRMC) also recently reported P6.11 million worth of damaged rice crops in Cauayan, Negros Occidental. Last Friday, the RDRRMC discussed the response plans of various agencies, such as cloud seeding, distribution of standby farm inputs and relief goods, among others. Based on the climate outlook of weather bureau PAGASA, 13 provinces in the Visayas will experience drought by the end of April. These are: Aklan, Antique, Capiz, Guimaras, Iloilo, Negros Occidental, Negros Oriental, Siquijor, Biliran, Eastern Samar, Leyte, Northern, and Western Samar. Three others — Bohol, Cebu, and Southern Leyte — will experience dry spell. —Emme Rose S. Santiagudo
Dry spell’s initial damage to Cebu agri sector estimated at P100M
THE FREEMAN
CEBU PROVINCE is now under a state of calamity due to the effects of a weak El Niño. The provincial board passed Monday afternoon a resolution making the declaration, which paves the way for the release of emergency funds to assist farmers, fisherfolk, and other affected communities. Board Member Thadeo Jovito Z. Ouano, author of the resolution, said the declaration is backed by the visible damage and losses that the El Niño has caused on crops, livestock, fishery products, and water supply. The Provincial Disaster Risk Reduction and Management Office (PDRRMO) also conducted an initial survey and assessment of the dry spell’s impact. PDRRMO head Baltazar S. Tribunalo Jr. said the initial damage estimate is P100 million. Mr. Tribunalo added that with the weak El Niño expected to persist until May or June, the number could increase, noting that the damage value recorded during the 2015-2016 El Niño episode in Cebu reached P215 million. Emily Lagrimas, PDRRMO Research and Planning Division head, said at least 27 local government units have declared damage and losses out of the 51 towns and component cities in the province. Mr. Tribunalo said the short-term assistance program include provision of water and cash-for-work for the affected farmers and fishermen. — The Freeman
Waiting for water
MAYOR CLIMACO FB PAGE
Residents in various parts of Zamboanga City, where a state of calamity has already been declared, line up to get supply from water tankers deployed by the local government amid the dry spell. The City Disaster Risk Reduction and Management Office, meanwhile, has been ordered to draw up plans for the immediate construction of five small water impounding dams or weirs, with three in Pasonanca and two at the Saaz River in Patalon. Cloud seeding operations — with funding from the local government, Prime Water Infrastructure Corp. based inside the Zamboanga economic zone, and the Zamboanga City Water District — is also being scheduled to mitigate the impact of the prevailing El Niño phenomenon.
DEPARTMENT OF Interior and Local Government Secretary Eduardo M. Año has directed the Philippine National Police (PNP) to relieve high-ranking police officers of the Police Regional Office 12 (PRO-12), based in General Santos City, for their alleged involvement in an investment scam that reportedly collected almost P2 billion. Among those ordered relieved are Senior Supt. Manuel M. Lukban, Jr., Senior Supt. Raul S. Supiter, and Supt. Henry P. Biñas. Based on the initial report of PRO-12, the Police Paluwagan Movement, an investment scheme promising high returns, has attracted not just cops, but others including prosecutors, judges, entrepreneurs, and civilians. The scheme allegedly offers a 60% interest rate every 15 days to investors. — Vince Angelo C. Ferreras
THE SULU Provincial Disaster Risk Reduction and Management Office (PDRROM) brought relief goods to displaced residents of the province on Monday as the military continues with its pursuit operations of the kidnap-for-ransom Abu Sayyaf group. The PDRRMO, assisted by the municipal government of Kalinggalan Caluang, police and military forces, said it distributed goods to families from Simisa Island, where troops killed three Abu Sayyaf members on Sunday. In a report on Monday, the Western Mindanao Command (WestMinCom) said soldiers of the Marine Battalion Landing Team 3 clashed with an undetermined number of Abu Sayyaf members under sub leader Najir Arik in Simisa Island Sunday morning. No casualty was reported on the government side. Pursuit and clearing operations are ongoing. “The Joint Task Force Sulu continues to intensify the conduct of offensives against the Abu Sayyaf,” said Lt. General Arnel B. Dela Vega, WestMinCom commander. Government forces have been pursuing members of the bandit group, with operations further intensified since the Jan. 27, 2019 bombing of a Catholic church in Jolo, the capital of Sulu. The Abu Sayyaf have pledged allegiance to the extremist Islamic State.
A nation whose progress is backed by strong, steady, clean and sustainable power—that is the vision of Energy Development Corporation (EDC), the Philippines’ leading renewable energy company.
Now on its 43rd year, EDC continues to pioneer a future of infinite possibilities through clean, alternative sources of energy such as geothermal, wind, hydro and solar. To date, EDC generates more than 20% of the total renewables in the country’s energy mix. The company’s strong focus and over 40-year head start on geothermal power has also placed the Philippines on the global energy map by making it one of the world’s largest
geothermal producers. Geothermal Power Plants in Mindanao
EDC’s geothermal plants in Bicol, Leyte, Mindanao, and Southern Negros are paragons not only of efficient and reliable renewable energy production, but also of thriving, sustainable communities. In these sites, the environmental benefits of renewable energy are showcased and at the same time continually propagated. EDC
works hand in hand with the communities it operates in to create sustainable livelihood, enhance local government services, and conserve natural resources. Palinpinon-1 Geothermal Power Plant in Negros Oriental
As part of its proactive stance toward climate change, EDC’s reforestation and biodiversity restoration program BINHI has planted 6.3 million trees and restored 9,196 hectares of denuded land across the Philippines. This has led to the sequestration of 31, 721 tons of CO2e. All in all, EDC is a proud carbon-negative Filipino enterprise—with its carbon footprint of 807,061 tCO2e only 30% of the total 3.6 million tCO2e carbon absorption of the forests and plantations it has nurtured in the past four decades.
For all these, EDC has been on the global Carbon Clean 200 list since 2017 — a compendium that recognizes the largest publicly listed companies that make it possible for the world to transition and progress into a clean energy future. It is the first and only Philippine company to be given such recognition. Burgos Wind Power Farm in Ilocos Norte
With all such bright and encouraging prospects, EDC continues to guide the way to the reality of a fully sustainable and cost competitive renewable energy base for the country — one that is accessible to power consumers; one that keeps the lights on round-the-clock for burgeoning businesses and industries; one that improves and saves lives by powering hospitals, airports and vital public facilities 24-7; and one that keeps the air and waters clean for many generations of Filipinos to come.
By Melissa Luz T. Lopez Senior Reporter
THE CENTRAL BANK plans to roll out by next year new tools to better monitor lending to the volatile real property sector, according to a senior official of the Bangko Sentral ng Pilipinas (BSP).
A March 19 BSP working paper outlined three new measures designed to tighten watch on banks’ real estate loans.
Titled: “Have Domestic Prudential Policies Been Effective: Insights from Bank-Level Property Loan Data,” the paper found that tighter prudential policies have been effective in tempering growth of new home loans handed out by domestic banks.
The central bank has tightened rules on banks’ real estate exposure as it sought to temper rapid credit growth, which some debt raters have flagged as a possible sign of an overheating economy.
Central bank officials have noted sustained strong demand for commercial and living space in the Philippines, rendering property price increases reasonable and allaying fears of a bubble.
An asset bubble forms due to a perceived rising demand in housing units that drive developers to build more, and is said to “burst” as demand stagnates, leading to an abrupt drop in property prices that could jolt the banking system.
The study, written by Veronica B. Bayangos and Jeremy L. De Jesus, noted the need to build a banking sector resilience index, which is expected to provide a more accurate measure of a bank’s strength. Two other tools are also proposed: a composite vulnerability index of banks, alongside the use of high-frequency and market-based metrics to assess the resilience of the banking sector.
Sought for comment, BSP Deputy Governor Chuchi G. Fonacier said the new index is already in the works.
“The construction of the banking sector resilience index will start this year and is expected to be rolled out next year. We have started construction of the vulnerability index for cross-border risks, we should be able to work on the other risks this year. We expect this to be rolled out also next year,” Ms. Fonacier said in a mobile phone message.
“These are both part of our surveillance tools that will serve as indicators to emerging risks and vulnerabilities of the banking system.”
According to the study: “Market-based indicators are quantitative tools that can be used to gauge the market’s assessment of the resilience of the Philippine banking system.”
“These indicators are based on information from financial markets and are thus timely, reflect expectations of future performance of the banking system and will offer good comparability across countries and through time,” it said.
The BSP currently limits a bank’s real estate exposure to 20% of its total loan portfolio.
THE PHILIPPINE STOCK EXCHANGE, Inc. (PSE) is moving to tighten rules for Real Estate Investment Trusts (REIT), as it wants to ensure that funds invested in such instruments will not be used for projects abroad.
In a memorandum posted on its Web site last Friday, the PSE proposed to amend Section 4E of the Listing Rules for REITS released in 2010, which outlined the general criteria of companies to qualify for listing.
The amendment states that “a REIT shall not invest in real estate located outside the Philippines without special authority from the Securities and Exchange Commission.”
The corporate regulator earlier identified reinvestment of such funds in the country as a key concern for REIT guidelines that has been raised by the Department of Finance and Bureau of Internal Revenue.
In addition to being reinvested in the Philippines, proceeds from share offerings of REITs must be spent within five years, according to Section 8 of the proposed amendments, titled “Reinvestments.”
The previous listing rules did not impose such limits on the use of proceeds.
The exchange, however, may grant a longer period of investment depending on the nature and magnitude of the project involved.
The PSE also proposed to add Section 6.3, under which REITs will have to disclose via the PSE Electronic Disclosure Generation Technology (EDGE) an annual report on how the proceeds of a secondary share offering have been used.
“The annual report shall be submitted within 30 days following the end of the REIT’s fiscal year and shall be certified by the company’s chief financial officer or treasurer and external auditor. The annual reports shall be regularly submitted until the proceeds have been fully utilized.”
On Continuing Listing Requirements under Section 7 of the proposed listing rules, the PSE wants to remove the statement that the minimum public ownership (MPO) of the exchange shall not apply to REITs. Instead, REITS must comply with the MPO rule indicated under the Implementing Rules and Regulations (IRR) of Republic Act No. 9856, otherwise known as the REIT Act of 2009. Section 8.1 of the IRR states that a REIT must have a public ownership of at least one-third of its outstanding capital stock, owned by at least 1,000 public shareholders, with each owning a minimum of 50 shares. Should REITs fall below the MPO requirement, they will be subjected to a trading suspension of up to six months. In that time they must work on meeting the requirement.
REITs that fail to comply with the REIT law, its IRR and other guidelines set by the PSE will be subjected to the same penalties under PSE rules, including delisting.
The PSE further added a section on relisting prohibition which states that a REIT that has been involuntarily delisted “cannot apply for relisting within a period of five years from the time it was delisted.”
Directors and officers of the delisted firm are also disqualified from becoming directors and officers in other REITs for the same period.
The PSE is accepting comments for the proposed guidelines until March 31. — Arra B. Francia
