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Palace pushes for rescue of Indonesians, Malaysian taken hostage by Abu Sayyaf

AS MALACAÑANG on Friday said authorities have been directed to rescue three hostages, one from Malaysia and two from Indonesia, being held by the Abu Sayyaf (a Philippine-based fundamentalist Islamic group), it reiterated that the government has a policy against paying ransom.
“We are doing our best to secure the release of hostages from the evil hands of the Abu Sayyaf Group (ASG) but we stand firm on our no ransom policy,” Presidential Spokesperson Salvador S. Panelo said in a statement.
Mr. Panelo added that “to give in to the demands of terrorists and other lawless groups would embolden them to engage in more abductions that would allow them to conduct extremist and other criminal activities as they could buy more arms and weapons.”
He said that the ASG “continues to be on the run” as a result of the order of President Rodrigo R. Duterte to the military “to crush them.”
“Our security forces are hunting them in the wild forests of Mindanao to unleash their might and blow them to kingdom come,” said the spokesman.
Early this month, at least five members of the ASG surrendered to authorities. They are believed to be behind the bombing of a Catholic church in Jolo, where 23 persons died and 95 others were wounded.
Philippine National Police (PNP) Director General Oscar D. Albayalde said the suspects belong to a group of 22 Abu Sayyafs led by Hatib Hajan Sawadjaan.
Mr. Duterte declared an “all-out war” against the ASG and other enemies of the state last month following the attacks in Jolo.
In a press briefing on Jan. 29, Mr. Panelo said, “When you say against the ‘enemies of the state,’ [we refer to] those who use violence against the state. Those who want to destroy the democratic institutions of this country.
“Those who kill, who sow terror, who bomb civilians, soldiers, and policemen. These are the enemies of the state that the President is referring to, not the critics,” he clarified. — Arjay L. Balinbin

Inflation for low-income households eases further in January

INFLATION, as experienced by low-income households, was lower in January as prices of food and utilities eased further, the Philippine Statistics Authority (PSA) reported on Friday.
The January inflation turnout for goods and services used by households at the bottom 30% income segment stood at 5.9%, slower than the year-on-year price increase of 7.2% in December 2018.
The consumer price index (CPI) for the bottom 30% income segment has a heavier weighting for the food, beverages and tobacco subindex, seen to more accurately represent the spending patterns of the poor.
The food, beverages and tobacco subindex rose 6.7% year on year from 8.1% in December 2018. Food alone logged a 5.8% growth versus the previous month’s 7.1%.
Slower upticks were noted in the following food groups in January: rice at 6.8% in January from 7.8% the previous month; fish (8.7% from 10.5%); fruits and vegetables (5.7% from 8.7%); miscellaneous foods (5.5% from 5.9%); meat (4.8% from 5.6%), eggs (2.6% from 3%), cereal preparations (4% from 4.1%), and dairy products (3.7% from 3.8%). Meanwhile, the price of corn went down 0.7% from last year’s 1.2% growth.
The cost of utilities, consisting of fuel, light and water, decelerated to 3.4% from December’s 5.3%. Lower increases were also recorded in housing and repairs (4.6% from 5.5%), and services (3.5% from 3.6%).
Meanwhile, the clothing and “miscellaneous” subindices were steady at 3.1% and 2.4%, respectively.
Inflation experienced by poor households in the National Capital Region (NCR) was recorded at 4%, slower than the 4.8% posted in December. A similar case was observed for those living outside of Metro Manila, which recorded slower inflation at 5.9% from 7.3%.
“The downtrend in inflation bodes well for economic growth and the lives of Filipinos as this will restore lost purchasing power in 2019, aiding overall household consumption,” Nicholas Antonio T. Mapa, senior economist at ING N.V.-Manila branch, said in an email.
“The deceleration in the print moves in line with the current path of inflation now that supply conditions have eased. This can be expected from inflation that had been primarily driven by cost-push pressures: inflation comes down very quickly once supply bottlenecks have been addressed,” he said.
“Lastly, we note the 4.6% inflation in housing repairs in areas outside NCR, in particular the north, reflecting possible ongoing repairs after severe storm damage seen in these areas towards the end of 2018.” — Marissa Mae M. Ramos

Japan pledges 3.2-B yen in loans for Mindanao projects

JAPAN has pledged additional grants for the Philippines following a joint meeting held in Osaka this week, which include funding for train simulators as well as projects for healthcare and peace efforts in Mindanao.
In a statement, the Department of Finance (DoF) said the seventh leg of the Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation held on Thursday yielded new loans and financial aid for the country.
Japanese officials have pledged a fresh 3.2 billion yen grant for peace and development projects in Mindanao, which came after the ratification of the proposed creation of the Bangsamoro region.
The fresh assistance will cover the following:
• 1.8 billion yen for the construction of Technical Education and Skills Development Authority training centers in the damaged city of Marawi, and the provinces of Basilan and Sultan Kudarat;
• 560 million yen for the provision of well-drilling machines and underground water detecting machines under the Economic and Social Development Programme;
• 200 million yen for the provision of livelihood assistance in agriculture and for fishers through the Food and Agriculture Organization;
• 300 million yen for the development of water facilities in the Bangsamoro region through the International Labor Organization; and
• 340 million yen for the provision of vehicles and equipment through the United Nations Development Programme.
This is on top of the $202-million loan for the Road Network Development Project in Conflict-Affected Areas in Mindanao, which is due to be signed soon after the two nations already exchanged notes for the credit line earlier this month.
Separately, Philippine Ambassador to Japan Jose Laurel and Japanese Ambassador to the Philippines Koji Haneda also signed the exchange of notes for a 1.2-billion yen assistance for train simulators to support the proposed Philippine Railway Institute. This is projected to train workers who will man the upcoming rail systems under the “Build, Build, Build” program.
Also discussed are feasibility studies for the Circumferential Road 3 Missing Link Project in Metro Manila and the Dalton Pass East Alignment Alternative Road Project. The Japanese leaders also said that they are considering a “possible supplemental loan” for the Davao City Bypass Construction Project, as requested by the Philippine government.
The two officials also signed a memorandum of cooperation for healthcare, as they look to set up facilities for universal health coverage, elderly care, disease prevention, maternal and child health services and sanitation.
President Rodrigo R. Duterte recently signed the universal healthcare law, which made all Filipinos mandatory members of the state-run Philippine Health Insurance Corp.
Mr. Dominguez said the joint meetings stand to improve cooperation and “facilitate project implementation,” with Japan currently the biggest donor to the Philippines via official development assistance.
“Our two countries have entered a golden age of our strategic partnership. In addition to government-to-government relationships, I hope the relationship between our private sectors would also be good,” Hiroto Izumi, Special Advisor to Prime Minister Shinzo Abe and leader of the Japanese contingent, was quoted as saying.
The Mr. Izumi said they will closely watch out for developments in the Bangsamoro Transition Authority, which will kick off the signing of grant agreements involving the new region in Mindanao.
Japan has so far extended P189.92 billion (398.82 billion yen) for local projects since June 2016. Nine loan agreements have been signed so far, which include phase two of the New Bohol Airport Construction and Sustainable Environment Protection Project, the Metro Rail Transit Line 3 Rehabilitation Project; the first tranche of the North-South Commuter Railway Extension Project, and the first phase of the Metro Manila Subway Project. — Melissa Luz T. Lopez

GMA to invest P1B for network digitization

By Denise A. Valdez, Reporter
GMA Network, Inc. said it is earmarking more than P1 billion for the second phase of its efforts to digitize its operations.
In a statement on Friday, the media giant said part of the investment will be used to fund its digital terrestrial transmitters (DTT), which are devices used to air GMA shows on digital TV.
“The second phase encompasses the production, post-production, content management and distribution of GMA and GMA News TV’s programs, starting with the commissioning of the DTT that now provide superior digital TV signal reach, enabling the viewership of Kapuso programs through digital-enabled TV sets and set-top boxes,” the company said.
GMA said enhancements to media asset management and broadcast automation systems are now complete, while the upgrade of its electronic field production capabilities and post production equipment and software are underway.
The projects are expected to elevate the quality of GMA’s image capture to Full 2K/4K High Definition and its capability to process in these formats.
GMA said it is also investing in a new News Automation System (NAS) that will improve its speed in news and information delivery through eight shows: Unang Hirit, 24 Oras, 24 Oras Weekend, Saksi, News To Go, Balitanghali, Quick Response Team, and State of the Nation with Jessica Soho.
“All these state-of-the-art upgrades are part of GMA Network’s ongoing digitization project to bring world class programming to our viewers here and abroad,” GMA Network Chairman and Chief Executive Officer Felipe L. Gozon said in the statement.
“We are excited to unveil more innovative offerings that will…revolutionize the TV viewing experience in the Philippines,” he added.
Last month, GMA’s New Media, Inc. (NMI) signed a technology, content and distribution agreement with PLDT, Inc. and wireless unit Smart Communications, Inc. for the network’s digitization project.

BHI to unload condo units

BOULEVARD Holdings, Inc. (BHI) will be selling its portfolio of condominiums in Metro Manila worth about P77 million, as it plans to focus on its resort business in key tourist destinations.
In a letter to its shareholders on Friday, the Panlilio-led firm said its management has decided to sell its entire portfolio of condominiums that are valued at P21.5 million on the company’s books, but have since appreciated to at least P77 million.
The properties include mini-penthouse units near the Enterprise Tower in Makati, a penthouse in an Ortigas building, as well as several office condominium units in Makati. The values of the properties were based on the latest fair market appraisal by accounting firm SGV’s affiliate, EY International.
“Given the good prospects of property in Manila at this time, BHI would rather sell and raise some cash to concentrate on our core businesses of resort hotel development and operations in Boracay Island, Puerto Galera and Cebu, as well as in resort property development, in Ternate, Cavite and Cebu,” BHI Chairman and Chief Executive Officer Jose Marcel E. Panlilio said.
BHI also said this move will help it focus on the remaining assets it has valued at about P1.8 billion, without considering their accretive value over the last two decades.
The company’s core business is in the operation of resort developments. Its subsidiary, Friday’s Holdings, Inc., owns and operates Friday’s Boracay Beach Resort in Boracay Island. It also owns Friday’s Puerto Galera, Inc., which operates Friday’s Puerto Galera Beach Resort in Boquete Island, Sto. Nino, Puerta Galera.
The firm was among those affected by the government’s six-month rehabilitation efforts in Boracay Island, as the Department of Environment and Natural Resources ordered shut all resorts and establishments from April to October.
BHI booked a net loss attributable to the parent of P37.82 million in its fiscal year ending May 31, 2018, slightly cutting its attributable loss from P39.2 million in the previous year. Revenues meanwhile grew by 3% to P100.72 million.
Shares in BHI jumped 4.41% or 0.30 centavos to close at 7.10 centavos each at the stock exchange on Friday. — Arra B. Francia

PHirst Park Homes taps Megawide for Lipa project

PHirst Park Homes, Inc. signed an agreement with Megawide Construction Corp. for the use of the contractor’s precast technology to build more than 1,800 homes in Lipa, Batangas.
“PHirst Park Homes is pleased to continue its partnership with Megawide because of its experience and leadership in modern precast technology. As with our ongoing project in PHirst Park Homes Tanza where Megawide has demonstrated an exemplary performance, we are confident that it will deliver the same level of professionalism and quality to PHirst Park Homes Lipa,” Ricky M. Celis, president of PHirst Park Homes, said in a statement on Friday.
The joint venture firm of Century Properties Group, Inc. (CPG) and Mitsubishi Corp, first inked the same agreement with Megawide in 2017 for 2,830 units in PHirst Park Homes Tanza, Cavite development.
Megawide implements a precast construction system which allows faster completion, standardization, cost-effectiveness, and better quality of housing units.
“Through our precast unit, we are able to custom-build to the specifications of PHirst Park Homes and ensure higher standardization for all units from production to installation,” Edgar B. Saavedra, chairman and chief executive officer of Megawide, said in the statement.
The residential development in Lipa is currently undergoing land development, while construction of the first batch of houses will start in September 2019.
Launched in June 2018, PHirst Park Homes Lipa is a 20-hectare horizontal community in Brgy. San Lucas.
In the next five years, PHirst Park Homes will launch 15 masterplanned communities in Cavite, Laguna, Batangas, Rizal, Quezon (CALABARZON), and Central Luzon. — Vincent Mariel P. Galang

PAL to upgrade passenger service system

PHILIPPINE Airlines (PAL) said it is preparing to upgrade its passenger service system in line with efforts to secure a five-star rating.
In a statement on Friday, the flag carrier said it will start next month the system upgrade, which is expected to allow faster booking, check-in and boarding experience for its customers.
“PAL’s new IT computer system, using the Altea PSS (Passenger Service System) Suite by Amadeus, will allow airline customers to benefit from greater convenience in booking reservations, ticketing, check-in and boarding processes,” it said.
Amadeus provides service solutions to its clients, such as airlines and airports. On its website, Amadeus said the Altea Suite features full reservation, inventory and departure control capabilities.
“We are looking forward to launching a more reliable and passenger-friendly system that is designed for the needs of our customers,” PAL President and Chief Operating Officer Jaime J. Bautista said in the statement.
Last year, PAL was awarded its four-star rating by international airline rating organization Skytrax. The company is eyeing to secure the top five-star rating by 2020.
In January, listed PAL operator PAL Holdings, Inc. announced it is selling 9.5% of its shares to ANA Holdings, Inc., the parent of Japan’s five-star airline All Nippon Airways, for $95 million. — Denise A. Valdez

Basic Energy completes deal for minority stake in Thai firm

BASIC Energy Corp. (BEC) has completed its acquisition of a minority stake in a Thai company building a solar power plant in Myanmar.
In a disclosure to the stock exchange on Friday, the listed firm said it acquired 2,521,865 shares in VTE International Company Limited (Thailand) (Vinter), representing 15% of the firm’s total equity.
Under the deal, Vinter will hike its capital to 168,124,320 Thai baht from 1,000,000 Thai baht through the issuance of 16.71 million shares. BEC will subscribe to a total of 2.51 million shares for its 15% equity interest.
Vinter’s selling shareholder, Meta Corporation Public Company Limited, received the payment of $34,362.07, or about P1.72 million, for the transaction on Feb. 15.
Vinter is in charge for the engineering, procurement, and construction of a 220-megawatt (MW) solar power plant project in Minbu, Magway region in Myanmar. The company has partnered with Vintage EPC Company Limited (VEPC) for the project, where BEC also has a 15% stake.
Planning, design, and construction for the solar power plant started in 2016, with the first phase of construction seen to be completed within the first quarter of this year.
The owner-developer of the project is Green Earth Power (Myanmar), which holds the power purchase agreement with the Myanmar government’s energy and power ministry.
The company earlier said that its involvement in the project will only be as a stakeholder in the Vinter and VEPC, and not with the project itself. BEC President and Chief Executive Officer Oscar L. De Venecia, Jr. said he will serve as a director on the board of the Thai companies as part of the shareholders’ agreement.
BEC’s investment in the Thai companies marks its foray into solar-related energy projects overseas. The company is further looking for opportunities in other renewable energy projects in the region.
Shares in BEC slipped by 1.2% or 0.30 centavos to close at 24.7 centavos each at the stock exchange on Friday. — Arra B. Francia

Beep card reloading can soon be done online

AF Payments, Inc., the company behind “beep” cards, said on Friday it is tapping local firm Justpayto Philippines Corp. (Justpay.to) to allow online reloading in its tap-and-go payment system.
In a statement, AF Payments said the partnership will allow beep card users to top-up their cards on Justpay.to’s website (www.justpay.to/beep), removing the need to download a mobile application or digital wallet.
“We are constantly looking for ways to make reloading convenient for our cardholders. (This is) a simple and easy to use reloading system that I am positive our cardholders will welcome,” AF Payments President and Chief Executive Officer Peter Maher said in the statement.
The reloading system through Justpay.to will be activated by next month.
Beep cards, which currently have 5.5 million users, is commonly used on Light Rail Transit Line 1 (LRT-1), LRT-2 and Metro Rail Transit Line 3 (MRT-3), where AF Payments is the concessionaire of the government for the payment collection system.
Justpay.to is a central bank-registered remittance company that also works with Bayad Center, Manila Electric Company (Meralco), Globe Telecom, Inc. and San Miguel Corp.’s radio-frequency identification (RFID) system.
Last year, Coins.ph and China Banking Corp. (China Bank) also signed deals with AF Payments for beep card reloading options.
AF Payments is a joint venture of Metro Pacific Investments Corp. (MPIC) and Ayala Corp. that develops contactless payment solutions.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

BSP to simplify licensing requirements for e-payments firms

By Melissa Luz T. Lopez, Senior Reporter
THE CENTRAL BANK will soon allow banks and other financial firms looking to offer basic digital financial services to start operations without securing prior approval from the regulator, amid an industry push towards e-payments.
The Bangko Sentral ng Pilipinas (BSP) said it is simplifying the licensing requirements for non-banks that will offer electronic payment and financial services (EPFS), as it looks to promote digital solutions.
“Under the enhanced EPFS licensing policy, the BSFIs (BSP-supervised financial institutions) that provide basic services or those that enable clients to access information on their deposit, loan and other accounts (e.g. outstanding balance), or receive funds in electronic means shall simply notify the BSP within 30 days prior to the launch of those services,” the BSP said in a statement on Friday.
The relaxed rules are meant to increase the “availability of safer and more efficient channels for delivering banking, payment, remittance, investment, and other financial services.”
However, financial firms that will provide “advanced” services — which include fund transfer across accounts and initiate other types of transactions — will still have to seek prior BSP approval, although the central bank said the process has also been made simpler.
The licensing process involves three steps: the BSFIs need to do a self-assessment on their compliance with the criteria set under the BSP’s existing licensing framework. If compliant, they shall submit a certification proving so and must request a confirmation of eligibility to offer EPFS from the central bank.
Later on, the BSFI needs to submit documentary requirements to the BSP before it can be given a license.
With the new rule, players holding an existing license must re-register their e-services with the BSP by March 31, including those who are licensed but are yet to launch their platforms before Sept. 30 this year.
Still, all financial entities need to submit periodic prudential reports to the central bank for monitoring and policy purposes.
All firms that will offer online services are required to sign up with the automated clearing houses that process digital payments, namely the InstaPay and the Philippine Electronic Fund Transfer System and Operations Network (PESONet).
The central bank said these reforms are expected to help instill a “highly efficient” funds flow and fuel economic growth.
The BSP is setting sights on its goal of raising the share of e-payments to 20% of total transactions by the year 2020, coming from a measly one percent back in 2013. Digitizing payments and remittances would be crucial towards financial inclusion, as it would improve access while also trimming transaction costs.

Peso climbs ahead on hawkish comments from Guinigundo

THE PESO strengthened versus the dollar on Friday, buoyed by hawkish comments from a central bank official and offshore inflows ahead of the sale of retail Treasury bonds next week.
The local unit ended the week at P52.065 against the greenback, stronger by 6.5 centavos from Thursday’s P52.13 finish. This is the best showing of the peso since Wednesday, when it closed at P52.06.
The currency initially traded weaker as it opened at P52.24 and even touched P52.25 as its intraday low. The peso went on to gain strength later in the day, logging P52.04 as its best showing before settling at the closing rate.
Two traders interviewed by phone said the peso received a boost from a hawkish comment by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo.
“The peso traded higher initially due to a strong dollar overnight. It was offered down during the onshore trading and collapsed in the afternoon following statements by BSP’s Guinigundo that they are still on a hawkish stance,” one trader said.
The central bank official told Bloomberg that the BSP remains “more on the hawkish side” on monetary policy. Mr. Guinigundo said in an interview in Osaka, Japan that authorities “choose to be more cautious” in terms of setting interest rates, as they have not reversed the cumulative 175 basis point increase in key rates which took effect in 2018.
Another trader also pointed out that market players are likely taking positions ahead of the three-day weekend. Financial markets will be closed on Monday in observance of the People Power Anniversary.
“The peso was pretty much well-offered because of the long weekend. Players are getting ready for possible remittances,” the second trader noted, adding that there possible inflows due to offshore buying into the retail bonds offered by the Bureau of the Treasury also came into play.
Dollars traded on Friday reached $961.87 million, down from the $1.234 billion that exchanged hands the previous day.
The government revealed plans to raise at least P30 billion through the offer of five-year retail Treasury bonds, which is will be opened to both individual and institutional investors from Feb. 26 to March 8.
The first trader also noted that they saw the BSP buying some units as the below the P52.10 mark, which is seen to be a fresh attempt to rebuild its dollar reserves. — Melissa Luz T. Lopez

PSEi climbs higher as US-China trade talks progress

By Arra B. Francia, Reporter
SHARES firmed up on Friday as updates on the United States and China’s trade negotiations helped offset fears of a slowdown in world economic growth.
The bellweather Philippine Stock Exchange index (PSEi) rose 0.39% or 30.83 points to close at 7,962.13. The broader all shares index likewise climbed 0.55% or 26.83 points to 4,883.63.
“Stocks in the Philippines managed to climb higher… The fears about a worldwide slowdown were somewhat muted by reports that U.S. and Chinese negotiators were beginning to outline a deal to end a long-running trade spat,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a mobile message.
US and Chinese officials have resumed talks on Thursday in hopes of arriving at a concrete deal to end their trade war, about a week before their truce ends on March 1.
Papa Securities Corp. Sales Associate Gabriel Jose F. Perez noted that the PSEi was trading in the red for most of the day, before gaining momentum at the market’s close.
“The index traded weakly for most of the day on account of US markets ending in the red last night, before only being bought up at the close to end 30.83 points higher at 7,962.13,” Mr. Perez said in an email.
“We might not be out of the woods yet despite the PSEi ending in the green given that it was only bought up at the close. Watch out if US markets continue to weaken tonight given how they declined last night,” Mr. Perez added.
Four sectoral indices ended in positive territory, led by property which jumped 1.12% or 44.86 points to 4,045.68. Holding firms went up 0.6% or 48.15 points to 8,020.92; industrial increased 0.47% or 54.25 points to 11,678.17, while services added 0.26% or 4.01 points to 1,578.39.
In contrast, financials dropped 0.99% or 17.49 points to 1,754.68, while mining and oil tumbled 0.19% or 16.27 points to 8,609.85.
Some 1.51 billion issues switched hands, valued at P8.01 billion, improving from the previous session’s P7-billion turnover.
Decliners outpaced advancers, 97 to 89, while 54 names were unchanged.
Foreign investors remained net buyers for the third straight session, although much lower at P17.62 million, compared to Thursday’s figure of P522.09 million.
The local index bucked the weakness seen in markets abroad. The Dow Jones Industrial Average shed 0.4% or 103.81 points to 25,850.63. The S&P 500 index fell 0.35% or 9.82 points to 2,774.88, while the Nasdaq Composite index slipped 0.39% or 29.36 points to 7,459.71.
Asian markets ended mixed, with Japan’s Nikkei 225 ending 0.18% lower or 38.72 points to 21,425.51. The Hang Seng index gained 0.36% or 103.63 points to 28,733.55, while the Shanghai Composite soared 1.91% or 52.42 points to 2,804.23.

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