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When Mr. Jeff Bzdelik announced his retirement from coaching basketball last September, not a few quarters felt compelled to speculate on the reasons behind the development. It was sudden, to be sure; even as he indicated that he had given considerable thought to leaving the game for good, the timing was suspect at best. Heading into training camp, he left the impression that he was ready to buckle down to work as the Rockets’ defensive guru.
Bzdelik was clear about his reason to retire, noting in his official statement that he wanted to spend more time with family and friends. All the same, skeptics couldn’t help but associate his decision with the arrival of veteran Carmelo Anthony. After all, he shared a complicated past with the 10-time All-Star back when they plied their trade with the Nuggets 15 years ago. He did well in their first year together, presiding over a 26-match turnaround and boosting hopes of better things to come. Instead, they had a falling out that resulted in his departure 28 contests into the next season.
Considering that Bzdelik has agreed to return to the Rockets bench, the theories connecting his departure with Anthony’s entry appear to be without basis. In any case, he will be tasked with resurrecting a defensive strategy that looks to have gone to the dogs in his absence. Whereas they were among the league elite in coverage throughout their 2017-18 campaign, they’ve gone the other way this season to date. In other words, they need him — and to the point where owner Tilman Fertitta saw fit to coax him back.
No doubt, Bzdelik will be a boon to the cause. Because he’s around, the potential for improvement cannot be denied. Given the roster changes, however, the jury’s on how much he can truly help. For example, there can be no glossing over Anthony’s deficiencies on defense; so glaring are they that the Rockets turn into sieves when the former scoring champion is on the court, a fact made all the more evident by advanced metrics. Meanwhile, noted leeches Trevor Ariza and Luc Mbah a Moute have changed addresses, further compounding matters.
If nothing else, Bzdelik will give the Rockets a chance. And, all things considered, it’s all they can ask for as they try to replicate the success that had them two quarters away from making the Finals last May.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Peso rises on inflation data, remittance flows

THE PESO strengthened to its best level in three months on Tuesday, as the inflation print for October released yesterday was as expected, supported by remittance flows.
The local currency closed at P53.025 versus the greenback on Tuesday, gaining 19.5 centavos from the P53.22 close on Monday. Its close was also its best showing yesterday.
This is the peso’s strongest finish since the P53.01-per-dollar rate logged on Aug. 8.
The peso strengthened a notch at the start of the session, opening at P53.21 per dollar. It dropped to as low as P53.26 against the greenback.
The volume of dollars traded was larger yesterday at $983.78 million from $742.25 million in the previous trading day.
A trader interviewed after the market’s close said positive sentiment in the foreign exchange came after the release of inflation data, which was largely within expectations.
Inflation printed at 6.7% in October, steady from September but surging from 3.1% a year ago, the Philippine Statistics Authority reported yesterday.
This also matched the median forecast from 15 economists tapped in a BusinessWorld poll and falls within the 6.2-7% range given by the Bangko Sentral ng Pilipinas (BSP), but is faster than the 6.5% estimate from the Department of Finance.
“The latest data showed that inflation has already peaked in October, the start of the fourth quarter, as anticipated by the government. This sends a good signal to the market that the government is on track with its anti-inflation measures that made a positive impact on the foreign exchange,” the trader said in a phone interview, citing the interest rate hikes worth 150 basis points from the BSP since May.
Apart from the policy tightening, the trader also noted of the government’s administrative and memorandum orders to boost food supply and streamline its distribution.
However, another trader said the stronger peso was due to inflows, as the seasonal pickup in overseas Filipino remittances is starting to be seen given the proximity to the holidays.
“For the spot, it’s really all due to inflows and not really the inflation print since the market already priced that in, and the US trader weaker across the board,” the second trader said in a separate phone interview, noting lack of fresh leads abroad.
The trader said the same scenario will likely occur in the succeeding months.
“So yearend we’re gonna see more demand for the peso with the influx of remittances,” the second trader said. — E.J.C. Tubayan

Shares decline on steady October inflation print

By Arra B. Francia, Reporter
SHARES DROPPED on Tuesday after October’s inflation print came in higher than expected despite showing signs of slowing down.
The 30-company Philippine Stock Exchange index (PSEi) slipped 0.46% or 33.33 points to close at 7,180.11 yesterday, snapping the main index’s two-day rise. The broader all-shares index likewise slumped 0.44% or 19.37 points to 4,372.08.
“I think the market was slightly disappointed that the reported inflation rate was still at 6.7% or a little higher than consensus expectation of 6.5%,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said via text.
“While the print was higher than expected, the fact that it was the same as last month’s reading strengthens the indication that inflation could be topping out already. Oil prices have started to ease, as well as that of rice and other food items, which hopefully will be reflected in next month’s reading,” he said.
The Philippine Statistics Authority reported on Tuesday a headline inflation rate of 6.7% for the month of October, steady from September’s figure. This falls within the Bangko Sentral ng Pilipinas’ 6.2-7% estimate range, but is higher than the Department of Finance’s 6.5% projection.
Regina Capital Development Corp. Managing Director Luis A. Limlingan noted that with inflation expectations out of the picture, investors will now look toward the third-quarter gross domestic product growth data.
“Though the median estimate is at 6.2%, more people are split as to whether growth had improved or not,” Mr. Limlingan said in a mobile message.
Most markets abroad ended mixed as they awaited the results of the midterm elections in the United States. The Dow Jones Industrial Average gained 0.76% or 190.87 points to 25,461.70, while the S&P 500 index added 0.56% or 15.25 points to 2,738.31. The Nasdaq Composite index dropped 0.38% or 28.14 points to 7,328.85.
Back home, four sectoral indices fell, led by the property counter which shed 2.68% or 94.15 points to 3,416.65. Services followed with a 0.78% or 11.72-point decrease to 1,474.74. Industrials dipped 0.11% or 12.75 points to 10,756.54, while financials went down 0.09% or 1.56 points to 1,609.68.
Meanwhile, the mining and oil sub-index climbed 1.45% or 140.74 points to 9,830.24, and holding firms rose 0.78% or 55.40 points to 7,139.80.
Some 1.15 billion issues switched hands, resulting in a P6.76-billion turnover, lower than the previous session’s P22 billion which due to the crossing of shares in Energy Development Corp. (EDC).
Decliners trumped advancers, 103 to 82, while 52 names remained unchanged.
Foreign investors were net sellers for the second straight day, although net outflows dropped to P793.47 million from Monday’s P5.76 billion. The previous session’s figure included the shares crossed from EDC, which will be exiting the PSE this month.

Palace admits Chinese national named adviser

By Arjay L. Balinbin, Reporter
MALACAÑANG on Tuesday said Chinese businessman Michael Yang is President Rodrigo R. Duterte’s economic adviser.
In a press briefing at the Palace on Tuesday, Presidential Spokesperson Salvador S. Panelo initially denied that Mr. Yang is a presidential economic adviser, but said the Chinese businessman “is one of the advisers” whom the President consults.
“No. Michael Yang is just one of those advisers that the President consults on a particular matter. But he just receives one peso a year,” he said.
But when asked what “sensitive information” Mr. Yang has access to given his role, Mr. Panelo in his reply referred to the Chinese businessman as “economic adviser.”
“That’s between the President and the economic adviser. You cannot be revealing those things,” he said.
Mr. Panelo also said: “He consults him every now and then. You know Mr. Yang is a wealthy man; he has risen from poor origins to being a wealthy man.”
He added: “And he has a technical know-how to run a business, and also because he is Chinese, he knows a lot of people in the Chinese government — and he knows the psychology of Chinese. On that aspect, the President needs people like him.”
But in a media interview at the Palace last Oct. 9, Mr. Duterte denied that Mr. Yang was his economic adviser.
“Cannot be because he’s Chinese,” he said, referring to Mr. Yang, who is the CEO and owner of the Davao City Los Amigos (DCLA) stores in Mindanao.
Detained Senator Leila M. De Lima filed last Oct. 18 a resolution seeking a Senate probe into Mr. Yang’s appointment.
Ms. De Lima cited Section 4 (f) of the Republic Act No. 6713, which states that “[p]ublic officials and employees shall at all times be loyal to the Republic and to the Filipino people, promoted the use of locally produced goods, resources and technology and encourage appreciation and pride of the country and the people. They shall endeavor to maintain and defend Philippine sovereignty against foreign intrusion.”
She added that Article II, Section 19 of the Constitution states that “[t]he State shall develop a self-reliant and independent national economy effectively controlled by Filipinos.”
“The independence of the State from foreign control necessitates that the questionable citizenship of a presidential adviser be authenticated, and the nature and scope of his influence over foreign policy be fully disclosed,” Ms. De Lima also said in her press release.
Sought for comment, Ateneo Policy Center research fellow Atty. Michael Henry Ll. Yusingco said the appointment of Mr. Yang is illegal. “[N]o, it is not legal for any foreigner to be appointed for any position in government,” Mr. Yusingco said in an email.
“Therefore, Mr. Yang, a Chinese national, cannot be appointed by the President as his economic adviser,” said Mr. Yusingco.
He added that if copies of Mr. Yang’s contracts, which were obtained and reported by Rappler.com, “are confirmed to be authentic, [then] these can be used as proof of a serious breach of public trust and a palpable violation of his oath to uphold the 1987 Constitution.”
For his part, Justice Secretary Menardo I. Guevarra said in a phone message to reporters: “There’s no legal prohibition. Advisory capacity lang ‘yun. The President may or may not listen to him.”
NEW APPOINTMENTS
Also on Tuesday, Mr. Panelo announced the appointment of Noel K. Felongco and Alvin S.J. Feliciano as Lead Convener of the National Anti-Poverty Commission (NAPC) and Chairperson of the Presidential Commission for the Urban Poor (PCUP), respectively.
“The Palace wishes to announce the following appointments: Mr. Noel Quinazo Felongco is the Lead Convenor of the National Anti-Poverty Commission and also the appointment of Mr. Alvin San Juan Feliciano as Chairperson of the Presidential Commission for the Urban Poor. Both appointments were signed by the President last October 31,” Mr. Panelo said.
The NAPC was previously headed by former secretary Liza Maza. Citing Mr. Duterte’s cancellation of the peace talks with the National Democratic Front of the Philippines (NDFP), Ms. Maza announced her “irrevocable resignation” last Aug. 20. As for the PCUP, its former chairperson, Terry Ridon, was fired last year because of his alleged “excessive foreign trips.”

Another judge withdraws from De Lima’s drug case

By Vann Marlo M. Villegas
THE judge handling Sen. Leila M. De Lima’s drug case has inhibited herself, following after three judges who also handled that case only to inhibit themselves afterwards.
In a five-page order, Judge Lorna Navarro-Domingo of Muntinlupa Regional Trial Court (RTC) Branch 206 said her inhibition is “to show good faith to all parties concern(ed).”
“(T)he Court finds no sufficient ground to inhibit herself from conducting trial….(H)owever, in order to show good faith to all parties concern(ed) and being within the discretionary power of this Court, the undersigned presiding Judge recused herself from trying the case,” she said in the order.
In her Oct. 16 motion for Ms. Domingo’s inhibition, Ms. De Lima said the judge manifested “bias, partiality, and hostility” against her, since Ms. Domingo prematurely ruled against the senator’s motion to disqualify the witnesses of the Department of Justice without waiting for her Ms. De Lima’s reply.
Ms. Domingo said in her order that “there is no mistake to correct,” and she merely reiterated her previous order which stated that Ms. De Lima’s reply was “filed out of time.”
She added that the Court “is not bias(ed) in any way to any of the parties in this case.”
Ms. Domingo is the fourth Muntinlupa RTC judge to inhibit herself from Ms. De Lima’s case, after Judges Juanita Guerrero of Branch 204, Antonietta Pablo-Medina of Branch 276, and Myra Bayot-Quiambao of Branch 203.
Another judge, Patria Manalastas-De Leon of Branch 206, retired on Feb. 1 this year.
GUEVARRA, AGUIRRE CHARGED
In a related development, Senator Leila M. de Lima has filed before the Office of the Ombudsman a criminal complaint against Justice Secretary Menardo I. Guevarra and his predecessor, Vitaliano N. Aguirre II, over the allegedly illegal admission of felons as state witnesses in the case against her.
The detained Senator said the case against Mr. Aguirre stemmed from the House inquiry on the alleged illegal drug trade in the New Bilibid Prison (NBP), during which he presented 11 convicted felons as witnesses.
Ms. de Lima argued that admitting a criminal convicted over crimes involving moral turpitude under the Witness Protection, Security and Benefit Program (WPSBP) is in violation of section 10(f) of Republic Act 6981, “WPSB Act,” Article 208 of the Revised Penal Code and Sec. 3(e) of RA 3019, Anti-Graft and Corrupt Practices Act.
“As a consequence of their having been admitted as State Witnesses under section 10 of RA 6981, the above-mentioned convicted criminals have also been granted immunity, albeit illegally, under section 12 of the same law,” the Senator said in her complaint-affidavit.
She also said the immunity resulted in the dismissal of the cases against the criminal convicts by the Department of Justice (DoJ).
The incumbent Secretary is likewise facing similar complaint for continuing the illegal admission of the criminals under the WPSBP, thereby granting them “unwarranted benefits.”
“Secretary Guevarra has also failed to indict the aforementioned convicted criminals for illegal drug trading despite their unequivocal admissions and confessions under oath,” she argued.
“The failure to file the necessary Information is a flagrant breach of duty on the part of the Secretary.” — with Charmaine A. Tadalan

House panel approves bill on bereavement leave

By Charmaine A. Tadalan, Reporter
THE House Committee on Labor and Employment has approved a bill granting a paid bereavement leave to employees, but settled with five days instead of the proposed five to 10 days.
“Five to ten days ‘yung proposed pero nag-agree kaming lahat together with the businessmen na three days,” committee chair Rep. Randolph S. Ting of the 3rd district of Cagayan told BusinessWorld in a phone interview on Tuesday.
Mr. Ting said the panel agreed to impose the three-day leave in consideration of the several leave benefits workers are already entitled to and the maternity leave bill, which will increase the granted leave to pregnant female workers to 105 days from 60 to 78 days.
The Employers Confederation of the Philippines (ECOP) had argued that additional paid leaves will impact productivity and cost of doing business.
“This will have a huge adverse effect especially on the viability of micro and small enterprises which constitutes around 99% of enterprises in the formal sector,” the ECOP stated in its position paper submitted to the committee.
The employers group noted the present system already allows up to 34 days of possible paid leaves for male workers and up to 175 leaves for female workers.
This is aside from other non-working days due to the observance of around 22 regular and special holidays.
ECOP further said that pending legislation in Congress proposes to add 21 new holidays at the national level and to increase paid leaves by 141 days for men and 250 days for women.
Meanwhile, its counterpart measure, Senate Bill 1026, authored by Senator Grace Poe-Llamanzares, proposing a 10-day paid bereavement leave is still pending at the committee level.

Senate resolution on extension of fund availability for Marcos-era victims up for approval

By Camille A. Aguinaldo, Reporter
THE Senate committee on justice and human rights, chaired by Senator Richard J. Gordon, has recommended the extension of the availability of funds for victims of human-rights violations during the Marcos regime.
In Committee Report 495, Mr. Gordon asked his colleagues to approve without amendments the Senate Joint Resolution No. 13 extending the availability of funds for the said victims until December 2019.
The resolution was filed by Senator Francis G. Escudero and Senate President Ralph G. Recto last Aug. 6. The House of Representatives’ version was approved by the chamber on Aug. 29.
The Senate joint resolution seeks to extend the maintenance, availability and release of billions of funds deposited at the Land Bank of the Philippines. It also aims to ensure that all legitimate claimants under Republic Act No. 10368 or the Human Rights Victims and Recognition Act of 2013 will receive monetary reparations.
The Human Rights Victims Claims Board (HRVCB) has already approved 11,103 claimants to receive compensation.
The claims will be sourced from the P10 billion transferred to the Philippine government from the Swiss Federal Supreme Court in 1997. The Supreme Court (SC), in 2003, ruled that the P10 billion obtained by the late strongman Ferdinand E. Marcos was “ill gotten wealth.”
Mr. Escudero in his resolution also cited HRVCB’s account with the LANDBANK as having a balance of P792.63 million. The amount would only be maintained until Aug. 11 after which it would be reverted to the Bureau of Treasury.
He also cited reports that some claimants’ relatives were not able to encash their checks even with a special powers of attorney component.
“It is of utmost urgency that said funds be effectively distributed to those found qualified by the HRVCB and that relevant government agencies and bodies notably the Commission on Audit, the Land Bank of the Philippines, and the Bureau of Treasury should coordinate and cooperate to ensure that said effective distribution be speedily accomplished,” the resolution stated.

20 applicants vying for post to be vacated by SC Justice Tijam

20 applicants are vying for the position of Supreme Court (SC) associate justice which will be vacated by Justice Noel G. Tijam next year, Justice Secretary Menardo I. Guevarra said.
Mr. Guevarra, an ex-officio member of the Judicial and Bar Council (JBC), told reporters in a text message that SC Court Administrator Jose Midas Marquez is among the aspirants.
Thirteen are justices from the Court of Appeals. They are: Manuel M. Barrios, Ramon M. Bato Jr., Apolinario D. Bruselas Jr., Rosemari D. Carandang, Ramon A. Cruz, Stephen C. Cruz, Edgardo L. Delos Santos, Japar B. Dimaampao, Ramon R. Garcia, Amy C. Lazaro-Javier, Mario V. Lopez, Eduardo B. Peralta Jr., and Ricardo R. Rosario.
Sandiganbayan Justices Amparo M. Cabotaje-Tang, Efren N. Dela Cruz, and Alex D.L. Quiroz are also vying for the justice seat.
The others are lawyers Cesar Villanueva and Rita Linda V. Jimeno and Tagum City regional trial court Judge Virginia D. Tehano-Ang.
Mr. Tijam will retire on Jan. 5, 2019 upon reaching the mandatory retirement age of 70.
The JBC held public interviews last Oct. 18 for the associate justice position vacated by retired chief justice Teresita J. Leonardo-De Castro when she was appointed to the top post on Aug. 25. — VMMV

Human Rights Watch calls for probe on ‘hitmen’ cops

By Vince Angelo C. Ferreras
AN INTERNATIONAL human rights group is calling for an independent commission to investigate policemen who were allegedly involved in the killing of drug suspects after a police officer recently admitted that some policemen were responsible for many of the extrajudicial killings.
“The admission by a senior police official that police officers are working as hitmen for drug syndicates is yet more evidence of Philippine government complicity in ‘drug war’ killings,” said Brad Adams, Asia director of Human Rights Watch (HRW), in a statement on Nov. 5.
On Oct. 31, Central Visayas Chief Supt. Debold Dinas said in an interview with Cebu Daily News that some of the hitmen responsible for extrajudicial killings were “most likely retired military or police officers or there are active police officers.”
Mr. Adams added, “Given the total failure of the police to stop these abuses, it’s clear that any serious investigation of the police role in the war on drugs needs full independence.”
The rights group suggested an independent commission to investigate such cases.
“Any proposed commission of inquiry should be completely independent from the Philippine National Police and the Office of the President. Its members should include investigators from the Commission on Human Rights and representatives of nongovernmental organizations with recognized expertise,” HRW’s statement read.
The group added: “Despite the calls for accountability, not one police officer or government official has been convicted for any of these killings. Instead, the Duterte administration has attacked critics of the drug war. The government jailed an outspoken senator, Leila de Lima, on spurious charges; falsely accused human rights groups of links to the drug trade; threatened journalists who report critically on the ‘drug war’; and, most recently, deported a long-time foreign resident for denouncing the government’s anti-drug campaign.”
“Duterte has made it clear over and over again that he wants drug dealers and users killed so there is no reason to think these are rogue operations. It’s time for an independent commission to be created to officially identify those responsible and begin the process of accountability for mass murder,” Mr. Adams said.
In response, Presidential Spokesperson Salvador S. Panelo said, “The proposal by the Human Rights Watch for the creation of an independent commission to go after police officers allegedly involved in the killing of drug suspects smacks of another effort of this moribund group, which projects itself as a human rights organization, to intrude into our domestic affairs.”
He added, “The group’s latest effort to use media to resurrect an old issue clearly aims to undermine the integrity of the government’s institutional mechanisms. We need to correct the minds of our people from this misinformation that the group wants to propagate.”
Mr. Panelo also pointed out that the Philippine National Police’s Internal Affairs Service and the Commission on Human Rights as well as Congress are part of the government’s existing mechanism of inquiry into human rights abuses.
“These, among other governmental bodies engaged in counterbalancing measures, are functioning. We thus reiterate our position that we do not need schooling from outsiders on how to run the country,” he said.

Nationwide round-up

Less paperwork for OFWs expected with e-CARD

OFW
PHILSTAR

OVERSEAS FILIPINO Workers (OFWs) are now expected to get easier access to benefits provided by the Department of Labor and Employment (DoLE) through the newly-launched OFW e-CARD.
“Through this OFW e-CARD, member-OFWs will have an easier access to our programs and services, as it allows instant verification of OWWA membership and reduces documentary requirements,” Administrator Hans Leo J. Cacdac of the Overseas Workers Welfare Association (OWWA), an attached agency of DoLE, said at yesterday’s launch.
Section 13 of Republic Act 10801, The OWWA Act, mandates the distribution of the e-CARD.
Among the programs offered by OWWA are skills training, social welfare services, educational scholarships, and financial assistance.
Application for the e-CARD can be accessed online through the OWWA Website, owwa.gov.ph.
The card can be claimed by the OFW upon returning to country, or through an authorized representative.
OWWA has also put up special desks at all their regional and overseas offices for assistance on e-CARD processing.
Around 250,000 cards will be distributed under the project’s 1st phase.
DoLE Secretary and OWWA Board of Trustees Chair Silvestre H. Bello III said they are already preparing for the project’s next phase of implementation.
“We will soon be working on its next phase as we envision this OFW e-CARD as a means of bringing other government services closer to our OFWs,” said Mr. Bello.
The Department of Foreign Affairs (DFA) also expressed full support to the project, which it said is very timely given the Philippines’ role in the the United Nations’ (UN) Global Compact for Migration, which will be launched soon.
“The launching of this program is very timely in line (with) the commitments of the Philippines to the global community on migration governance policy,” DFA Undersecretary Ernesto C. Abella said. — Gillian M. Cortez

Police assures anti-drug operations in schools will be by the book

THE PHILIPPINE National Police has assured students and parents that there will be no violation of human rights in the implementation of the anti-illegal drug operations in schools.
“We will not come in as if to conduct (a) buy-bust. No, we will not do that. We will surely coordinate with the faculty, administrator, or sa security of the different schools,” PNP Director General Oscar D. Albayalde, speaking in mixed English and Filipino, said in a press conference on Monday, Nov. 5.
The Commission on Higher Education has recently released a memorandum order allowing law enforcement agencies to conduct anti-illegal drug operations in higher education institutions, provided they coordinate with school officials.
“The local government units, the Philippine National Police or any authorized law enforcement agency may carry out any legitimate drug-related operation within the school premises, provided that the same will be coordinated with the concerned HEIs prior to the conduct thereof,” the memorandum order stated.
Mr. Albayalde added, “We will follow the rule of law dito. We want to assure the public that human rights is deeply embedded in the system of the Philippine National Police.”
The Duterte administration’s campaign against illegal drugs has been criticized by local and international groups for alleged widespread human rights violations. — Vince Angelo C. Ferreras

Smart LTE network coverage on track to be 90% by yearend

SMART Communications, Inc. is on track to have long-term evolution (LTE) coverage for wireless data services in over 90% of the country’s towns and cities by the end of the year, according to Smart Public Affairs Visayas-Mindanao head Maria Jane C. Paredes. As of end-June, she said, Smart had 12,600 LTE stations. “We went to Cebu and other key cities, and we also included in that program tourist destinations like Boracay before it was closed for rehabilitation, and north as far as Batanes, and south as far as Tawi-Tawi and other areas in northern and central Mindanao are now LTE-covered areas,” Ms. Paredes said in an interview. “Suffice it to say (that) in all the municipalities and cities, we can guarantee that there’s LTE in the metropolitan and urban areas. In the more remote municipalities, the town center at least has LTE coverage,” she added. Smart is the wireless services unit of PLDT, Inc. 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. — Maya M. Padillo

PDIC to bid out prime properties on Nov. 29, Dec. 6

THE PHILIPPINE Deposit Insurance Corporation (PDIC) is disposing assets of closed banks through public bidding at its head office in Makati City on Nov. 29 and Dec. 6. The Nov. bidding offers five prime properties with a total minimum disposal price of P63.3million. The properties are located in Sorsogon, Pangasinan, Batangas, Bulacan, and Nueva Ecija. In Dec., up for sale are P3.1 billion worth of commercial and office units at the Export Bank Plaza in Makati City. These units will be sold per floor along with corresponding parking slots. Bidding procedures and the detailed list of properties are posted on the PDIC website, www.pdic.gov.ph.

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