Facebook Instagram Linkedin X Youtube
Home Blog Page 12033

Embodying the CFO of Industry 4.0

GONE are the days when the chief financial officer (CFO) was the glorified controller who makes sure the books are right and the treasury is in robust health. In recent years, the role is increasingly being redefined in order for companies around the world to survive and stay sustainable in the Fourth Industrial Revolution.
Industry 4.0 is a tough place to navigate. It’s rife with smart technologies that redefine business models, automation that’s fast displacing manual work while creating new jobs, and huge amounts of data generating invaluable insight into the marketplace. CFOs are at the crossroads of this transformation and have to quickly hit the reset button.
In the Ayala-FINEX Finance summit held on August 15, 2018, various speakers invited by the Financial Executives Institutes of the Philippines (FINEX) shared their thoughts on how CFOs can stay ahead in this highly challenging environment. One of them, Mr. Yu Ming Chin, executive director of Viventis Search Asia, cited critical things that CFOs need to brave this new world.
One is to apply strong and agile management skills. Agile is everywhere, and it has turned into a true buzzword being talked about from the C-suite to the project management level. Its textbook definition is to move quickly and easily; in the CFO role, it entails having a strong sense of perspective sensing, able to observe as well as react to exogenous changes in the organization and industry.
“We, as CFOs, embody the body of inertia. We ourselves are the pillar of resistance to change,” Mr. Chin said, highlighting the need for a profoundly new a personal and professional mindset to develop agile thinking.
He explained that from merely presenting balance sheets and income statements, finance leaders are entering “a critical chasm” where they need to take a certain amount of risk to be a true partner in guiding the company’s strategy and direction. Mr. Chin encouraged a balance between risk taking and risk management, and worrying less about making a misstep than taking a leap of faith.
Another interesting suggestion is for CFOs to invest in ABC — for artificial intelligence (AI), Big Data, and the cloud. Indeed, as explained by the other speakers from IBM and KPMG who were all experts in the field of technology, much of their true potential and applications are still to be fully realized, but AI, blockchain, and similar new technologies are likely to have a huge transformation impact on the finance function today and in the coming years.
Closely tied to investment in ABC is planning and managing workforce transformation by building a future of finance road map, which involves training and re-centering the intelligence of finance professionals to succeed in Industry 4.0. The success of any finance leader is built around a strong team so the CFO needs to employ people, not just for their technical know-how, but also their ability to strategize, problem-solve, and infuse rigorous technology into finance work.
Of course, the old-fashioned value of integrity is here to stay. CFOs are the de facto vanguards of integrity in the organization, whose failure is often a failure of its integrity. Thus, in a very unpredictable environment, they need to apply a strong leadership to maintain a cohesive team of the right people with the right solutions, right infrastructure, and right values in place.
Indeed, with robots and rapid digitalization already crossing over from science fiction to our industries, the CFO is better positioned to add significantly more value to the business in real time, at lower levels of risk and cost, and with greater levels of automated control.
There are more exciting times ahead. FINEX, together with ING Bank, continues to shine the spotlight on the country’s outstanding CFOs through the 12th ING FINEX CFO of the Year Award. The annual search, which is open to all qualified CFOs from the public and private sectors, publicly listed or unlisted companies, is accepting nominations until August 31, 2018. For those interested to nominate excellent CFOs they know, I invite you to go to the Search website, www.ingfinexcfooftheyear.com.
 
Ma. Victoria C. Españo is the President of the Financial Executives’ Institute of the Philippines (FINEX) and the Chairperson and CEO of Punongbayan & Araullo Grant Thornton, one of the leading Audit, Tax Advisory and Outsourcing firms in the Philippines.
marivic.espano@ph.gt.com

Hyundai to ship China-made cars to Southeast Asia amid recovery

SEOUL/BEIJING — Hyundai Motor Co. plans to ship China-made cars to Southeast Asia, its China joint venture and two people familiar with the matter told Reuters, as a plunge in Chinese sales has left much of its massive local manufacturing capacity idled.
Hyundai once ranked third by China sales alongside affiliate Kia Motors Corp. But just as it opened its fifth factory in the country last year, a diplomatic dispute saw Chinese consumers turn against South Korean goods, damaging Hyundai’s sales and brand image.
Diplomatic ties have since normalized but Hyundai’s recovery has been erratic. The automaker booked China sales of 30,018 cars in July, down 40% from July last year and its lowest monthly total since the 2008 global financial crisis. Yet sales for January-July are up 17%.
“A China recovery will take time. Hyundai needs a survival plan,” said one of the people with direct knowledge of Hyundai’s China operations, who were not authorized to speak to the media and so declined to be identified.
The experience exposed South Korean companies’ reliance on the Chinese market, pushing the Seoul government to court counterparts in Southeast Asia where the number of Korean cars is paltry compared with those of neighboring Japan.
“Hyundai is considering (exporting China-made vehicles) to emerging markets such as Southeast Asia,” the person said. “Europe may also be a consideration.”
Most vehicles foreign automakers build in China with local joint-venture partners are destined for the domestic market. Among those that export China-made vehicles, General Motors Co. (GM) ships to the United States and Volkswagen AG (VW) plans to export to Southeast Asia.
A spokesman at Beijing Automotive Industry Holding Co. — Hyundai’s Chinese joint venture with Beijing Automotive Group Co. Ltd. (BAIC) — confirmed the export plan.
“Yes, we plan to export cars to Southeast Asia. The earliest could be the end of this year,” he said. The automaker will decide on models depending on local demand, he said.
Hyundai in a statement said the plans are not yet finalized.
“Our main focus is on further developing our businesses in China, but we are also considering different options which may include exports of China factory-specific models,” Hyundai said.
TARIFFS
China was once the biggest market for Hyundai-Kia, whose local production was exceeded only by VW and GM. Yet their data showed a market share of 4.4 percent compared with 8.1 percent before the diplomatic spat, and as high as 10.5% in 2012.
Exacerbating Hyundai’s plight is the increasing popularity of sport utility vehicles (SUVs) — a segment in which the automaker has relatively few models — as well as heightened price competitiveness of domestic rivals.
Hyundai recently replaced the head of its China venture and gave its research-and-development vice chairman the added responsibility of overseeing China product development. It aims to sell 900,000 cars in China this year versus 785,000 last year, however the target is almost half of its 1.65 million vehicle capacity.
Should it export from China to Southeast Asia, it may avoid tariffs of up to 78% in Vietnam, for instance, on cars built in South Korea versus 50% for those made in China.
It was unclear what impact any export plans would have on Hyundai’s current Southeast Asia strategy, under which it is considering building a factory in Vietnam or Indonesia.
South Korea’s trade minister said, to help reduce dependence on China as well as the United States, the government would support firms expanding in Indonesia, where Korean automakers’ market share is 0.1 percent versus Japan’s 98.6%.
Across ASEAN, sales of South Korean cars are growing, with those of Hyundai-Kia rising 26% on year to 71,847 cars in January-June in Indonesia, Malaysia, the Philippines, Thailand and Vietnam, showed data from LMC Automotive.
The data provider forecast overall vehicle sales in those five countries to grow 5 percent to 3.29 million vehicles this year from 2017, reaching 3.41 million vehicles in 2019.
“Given Japanese firms’ dominance in Southeast Asia, it will be difficult for Hyundai to fully offset China’s excess capacity with exports,” said analyst Kang Dong-wook at Hi Investment & Securities. “It needs to improve product competitiveness in China.” — Reuters

Your Weekend Guide (August 31, 2018)

Beautiful Strangers

THE Ikarus Theater Collaborative and Storyboard Junkies present two-time Palanca Award winning playwright Jay Crisostomo IV’s play Beautiful Strangers on Sept. 1 and 2, 7 p.m., at DITO: Bahay ng Sining in J. Molina St., Concepcion Uno, Marikina City. It is a story about five people with their own varying states of beauty and ugliness. For ticket inquiries and reservations, send a message to 0917-863-2364, or an e-mail to ikarusbeautifulstrangers@gmail.com.

Silent Film Festival

THE Goethe-Institut, Japan Foundation, and Instituto Cervantes present the 12th International Silent Film Festival Manila which is ongoing until Sept. 2 at Cinema 2, SM Megamall, Mandaluyong City. This year, the eight participating countries — Austria, France, Germany, Italy, Japan, Spain, the USA, and the Philippines — will screen eight silent films, to be live-scored by local musicians. Admission is free. For screening schedules, visit www.facebook.com/InternationalSilentFilmFestivalManila/.

Side Show

ATLANTIS Theatrical Entertainment Group presents the musical Side Show from Aug. 31 to Sept. 23 at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati City. Nominated for four Tony Awards including Best Musical, Side Show is about love, loss, sisterhood, and what it truly means to be unique. Gab Pangilinan and Kayla Rivera star as the conjoined twins Daisy and Violet Hilton. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

History Comes Alive

HISTORIAN and columnist Ambeth Ocampo is back with another History Comes Alive! lecture series starting with “Villains in Philippines History” on Sept. 1, 3 p.m., at the Ayala Museum in Makati. For inquiries e-mail education@ayalamuseum.org or call 759-8288 loc 8272.

Balag at Angud, a Musical

THE Cultural Center of the Philippines (CCP) and Tanghalang Pilipino present Balag at Angud, a Musical from Aug. 31 to Sept. 16 at the CCP Little Theater. Directed by Audie Gemora and written by Layetta Bucoy, the play is an original Filipino musical based on the struggles and challenges in the life of Filipino sculptor Junyee. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Eto Na! Musikal nAPO!

9 WORKS THEATRICAL presents Eto Na! Musikal nAPO!, a musical comedy featuring the music of the Apo Hiking Society. Performances are ongoing until Sept. 2 at the Maybank Performing Arts Theater, BGC Arts Center in Taguig City. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Comedy nights

COMEDY MANILA presents Funny Fridays: State of Hilarity on Aug. 31, 8:30 p.m., at the Teatrino at Promenade, Greenhills Shopping Center, San Juan. For tickets (P500), visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Ang Huling El Bimbo

FULL HOUSE Theater Company presents Ang Huling El Bimbo, a musical featuring the songs of the Eraserheads, until Sept. 2 at the Newport Performing Arts Theater, Resorts World Manila, Pasay City. The musical tells a story of friends who reunite after 20 years and look back on the things that brought them together and kept them apart. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Rak of Aegis

PETA brings Rak of Aegis back until Sept. 2. The musical, featuring the music of the jukebox band Aegis, tells the tale of a perpetually flooded barangay and how its inhabitants adapt. The PETA Theater Center is at No. 5 Eymard Dr., New Manila, Quezon City. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

Iconic 1.0 and 2.0

BALLET MANILA presents a double header, Iconic 1.0 on Sept. 1 and 2, and Iconic 2.0 on Sept. 8 and 9 to open its 23rd season. The two performances will have completely different repertoires. For tickets and schedules, visit TicketWorld (www.ticketworld.com.ph, 891-9999).

What to see this week

7 films to see on the week of August 31-September 6, 2018

Heneral Luna


DURING the Philippine-American war, the short-tempered Filipino general faces not only foreign enemies but his own treacherous countrymen. Directed by Jerrold Tarog , the film stars John Arcilla, Arron Villaflor, and Mon Confiado.
MTRCB Rating: R-13

Kin


AN ex-convict and his adopted teenage brother, the feds, and otherworldly soldiers are being chased by a vengeful criminal. They go on the run with a mysterious weapon as their only protection. Directed by Jonathan and Josh Baker, it stars Myles Truitt, Jack Reynor, Zoe Kravitz, and Carrie Coon.
MTRCB Rating: R-13

The Curse (Malicious)


COLLEGE professor Adam, his pregnant wife Lisa, and her sister Becky, find out that they have become connected to a malicious entity after suffering a traumatic incident. Upon Adam’s call for assistance to Dr. Clark, a parapsychologist, they begin to discover the truth behind the entity. Directed by Michael Winnick, it stars Bojana Novakovic, Josh Stewart, Delroy Lindo, and Melissa Bolona.
MTRCB Rating: R-16

The Hows of Us

A COUPLE in a long-term relationship plan out their future together. Directed by Cathy Garcia-Molina, the film stars Kathryn Bernardo, Daniel Padilla, Darren Espanto, Jean Garcia, and Ria Atayde.
MTRCB Rating: PG

Not for everyone


By Alexander O. Cuaycong and Anthony L. Cuaycong
THERE CAN be no denying that FromSoftware’s Dark Souls is brutal and difficult, often bordering on the sadistic in terms of its capacity to challenge players. That said, it’s beatable, and while its gameplay borders on the unforgiving, it succeeds in its objective. You get a massive sense of achievement in persevering through it and conquering the even-tougher-than-tough parts. It’s an acquired taste, a pain to get into, really. It’s also harder to put down once you’re hooked.
In no small measure, the near-Sisyphean context in which Dark Souls presents itself is why it has held up well over time. Originally released on the PlayStation 3 and XBox 360 in 2011, it was later ported to the PC under the title Dark Souls: Prepare To Die a year later, featuring hitherto-unseen extra content. Fast forward to 2018, during which time the series’ continuing popularity has prompted the release of a remastered version of the founding title on the PS4, Xbox One, and Nintendo Switch.
Featuring enhanced graphics, better framerate and resolution, quality-of-life fixes, and all downloadable content off the shelf, Dark Souls Remastered positions itself as the definitive edition of Dark Souls. It has you taking control of an undead spirit in Lordran. Darkness has consumed the Kingdom, and all sorts of creatures now lie in wait throughout its ruins. Controlling the game’s silent protagonist, you must take up the sword and unearth the cause of the darkness, slaying monsters and delving deeper into the shadows from whence they came en route.
The premise is simple, to be sure, and one that Dark Souls Remastered is able to convey in visual splendor. On the PS4, it looks stunning, with better-resolution textures and graphics all across the board vis-a-vis its source material. The framerate is at the highest possible, and, more importantly, a constant, representing a massive improvement that provides a better overall experience. It just feels and handles better from the get-go.
Which is a decided plus, because, needless to say, Dark Souls Remastered makes no pretensions on the level of commitment it requires of you. Compared to its elder sibling, it does very little to change the gameplay, and aside from much-welcome QoL adjustments, it’s the exact same romp through Lordran, with a distinct emphasis on exploration, combat, and skill improvement. The mechanics are unchanged; the focus is still on dodging traps and striking enemies and bosses (a whopping 26 all told), necessitating countless hours’ worth of investment.
Parenthetically, the scope of familiarity is both good and bad. Dark Souls Remastered manages to keep intact the experience of going through and beating the game. At the same time, the problem isn’t in what it has done, but in what it has failed to do. Because the core gameplay experience is the same, it doesn’t offer anything new. It’s an updated version of Dark Souls, optimized to play well under current-gen technology, but little else.
In sum, Dark Souls Remastered isn’t for everyone, and especially not at $39.99. Even for previous owners of the original and of the Prepare To Die Edition on the PC, the price point may be a big ask. On the flip side, it delivers on its promise; it’s a severe — if beautifully rendered — test of skill that pushes the boundaries of the action-role-playing genre in a way that no other game in the market can.

Compassionate care for people in their advanced years

PALLIATIVE care aims to improve the quality of life of people with serious illnesses by preventing or treating symptoms and side effects of disease and treatment. It also addresses emotional, social, practical, and spiritual problems that illnesses can bring up.*
On the other hand, hospice care is designed to give supportive care to people in the final phase of a terminal illness and focuses on comfort and quality of life, rather than cure. It aims to enable patients to be comfortable and free of pain, so that they live each day as fully as possible.**
Dr. Rumalie Alparaque-Corvera is passionate about improving the quality of palliative and hospice care in the country. “The number of senior citizens in the country is growing more rapidly than the growth of the total population. In 2000, there were 4.6 million senior citizens, representing about 6% of our total population. The Philippine Statistics Authority projects that by the year 2030, senior citizens will make up around 11% of our total population,” Dr. Corvera said during the 2018 “Health for Juan and Juana: Making Universal Healthcare Happen” Forum.
The current president of the Philippine Society for Hospice and Palliative Medicine (PSHPM), Dr. Corvera is also the president and founder of the Ruth Foundation for Palliative and Hospice Care. “We formed the Ruth Foundation in 2012 to enhance the quality of life for those facing advanced illness and age through skilled and compassionate home-based care, palliative and hospice care education and advocacy.” As a nonprofit organization, the foundation relies on funds raised from a variety of sources, including private donations, corporate sponsorship, and fund-raising events.
In 2013, the foundation’s home care nurses, with the support of a multidisciplinary care team of doctors, social workers, clergy, counsellors, therapists, and volunteers, started making home visits to patients. To date, the Ruth Foundation has had 5,547 patient encounters and made 4,037 nurse visits and 2,039 physician visits for patients in 98 barangays in 18 municipalities, mostly in Metro Manila and nearby provinces. The foundation’s patients are referred by the Philippine General Hospital (PGH), barangay officials, social service departments, and private physicians.
Working with partner hospitals and educational institutions, the foundation has provided training in palliative and hospice care to over 800 nurses, volunteers, and other community-based health professionals. In April 2018, the Ruth Foundation signed a Memorandum of Agreement with De La Salle University — Dasmarinas to provide palliative care training for the school’s nursing students in both the undergraduate and postgraduate programs.
“We will continue to partner with local government units, the academe and private health care facilities to enhance the quality of palliative and hospice care in the country,” Dr. Corvera said. “Our goal is to form compassionate communities that will care for people in the final chapters of their lives.”
Dr. Corvera’s presentation was part of the Health for Juan and Juana session on “Private Sector Innovations in Service Delivery Network — Enabling Primary Healthcare.” With her in the session were Dr. Troy Gepte who discussed the Palawan Access to Medicines Partnership Program-Tulay sa Kalusugan, and Dr. Paul Darroca who spoke about FamilyDoc’s contributions to providing access to health care.
* https://medlineplus.gov/ency/patientinstructions/000536.htm
** https://www.medicinenet.com/script/main/art.asp?articlekey=24267
 
Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines (PHAP). Medicine Cabinet is a weekly PHAP column that aims to promote awareness on public health and health care-related issues. PHAP and its member companies represent the research-based pharmaceutical and health care industry.
medicinecabinet@phap.org.ph

How PSEi member stocks performed — August 30, 2018

Here’s a quick glance at how PSEi stocks fared on Thursday, August 30, 2018.

 
Philippine Stock Exchange’s most active stocks by value turnover — August 30, 2018

Domestic market capitalization of select stock exchanges in asia pacific

Domestic market capitalization of select stock exchanges in asia pacific

Is your workforce fit for work?

Struggling to get work done in the office? Having a hard time dealing with unproductive workers? You’re not alone. According to a recent study by US-based research group The Conference Board, the Philippines ranks among the least productive Asian nations, trailing behind ASEAN neighbors like Singapore, Malaysia, and Indonesia.
Whether you’re an employee pushing through low-energy workdays, or an employer trying to figure out how to deal with a seemingly unmotivated team, an unproductive business is an unhappy — and ultimately unsuccessful — one.
Today, there are countless productivity hacks to get you through the workday. Timing strategies like the Pomodoro technique, or new HR practices like forced vacation days have been proven to motivate workers. But ultimately, these are all ways to work around flagging energy levels.
If you really want to fight workplace burnout, the only real strategy is to boost those energy levels. And that’s through exercise.
A recent study out of Briston University found that employees that work out during the workday outperformed those that didn’t across various metrics.
Their respondents scored:

  • 21% higher on concentration,
  • 22% higher on finishing work on time,
  • were 25% less likely to take unscheduled breaks,
  • And felt 41% more motivated to work.

Physical activity significantly improves productivity, and workplaces need to take advantage of that. More than just a benefit for employees, fitness programs can vastly improve a business’s baseline.
So how can you build a healthier, more productive workplace? Here are three ways:

#1 – Stop making excuses

People can find an endless number of reasons to avoid incorporating exercise into their work day. “I have a deadline to meet,” or “I’ll just have a light lunch instead,” or “There’s always time after work for exercising.” (Spoiler alert: If you’re already finding excuses not to do it now, you’ll have even more time to find excuses not to do it later.)
Ultimately, it all boils down to how you view exercise. You don’t need to buy a one-year membership in a gym, or join the newest fitness class with your friends. Exercise can be as simple as taking a stroll around the block for five to 10 minutes. (Pro tip: Slowly increasing the intensity as you go also increases the endorphin boost you get afterwards!)

Strength in numbers

Exercising in a group is a great way to make exercise more enjoyable. When overcoming particularly difficult obstacles, you end up developing close relationships with the people you overcome those obstacles with.
Pushing each other to finish that last rep, or to run faster during a race, can really motivate each participant to not only finish the exercise, but improve over time. Not to mention, this is a great way to build camaraderie within the team. If your team learns how to work together properly through a high intensity workout, you can bet they’ll know how to make it through a similarly high-stress situation at the office.
When I ran a circuit-training class for employees from First Source Solutions, it was great seeing them playfully tease each other while they were doing their reps. Having that sense of play while exercising, really gave them a mental release from all the stress they were experiencing during their day.
Another nice takeaway for me was noticing how they motivated each other to start getting serious about their health. Pretty quickly, they were asking me questions on proper nutrition, exercises to do at home, and even recovery tips.

Knowing your ‘why’

Exercise is hard work. It requires dedication, and no small amount of motivation. So even if you have your entire office pushing you along, that focus and determination to get better still needs to come from you.
Having a clear goal in mind — in this case to improve your health and workplace productivity — is essential. When you get lazy to go to the gym or have the temptation to enjoy an extra cheat meal, taking a moment to recenter and go back to your ‘why’ can keep you on the right path.
So what are you waiting for? Get started on your fitness habit today, even with just a 10-minute stroll around the office block. Soon you’ll see amazing results for both your productivity and your health.

Ryan Fermin is an entrepreneur and fitness professional focusing on sports science, strength training, and conditioning. Find him on Instagram at @coach.ryfit.

‘I support martial law in Mindanao’ — Arroyo

HOUSE SPEAKER Gloria Macapagal-Arroyo on Thursday expressed support for martial law in Mindanao, which is due for congressional action upon Malacañang’s move for its extension.
“I support martial law in Mindanao. I’ll support what the President does because I’ve been president and I believe that he does not need a peanut gallery to tell him what to do,” Speaker Arroyo told reporters in an interview.
The remarks followed Executive Secretary Salvador C. Medialdea’s pronouncement that extending martial law in Mindanao is an “option” after the festival bombing in Isulan town, Sultan Kudarat. It was reported the blast left three dead and at least 36 others wounded.
This is also the second bombing in the region in under a month after the car blast in Lamitan City, Basilan.
House Majority Leader Rolando G. Andaya, Jr. supported this, saying “the declaration of martial law is the call of the executive.”
“The President declares or extends, Congress concurs. If the President will ask for it, then it shall be given,” Mr. Andaya said in a statement Thursday.
In addition, the Majority leader proposed that the Palace should also hold a meeting with the National Security Council or Legislative-Executive Development Advisory Council (LEDAC) to discuss Marawi’s rehabilitation as well as implementation of the Bangsamoro Organic Law (BOL).
“What are the financing bottlenecks, for example? Bottom line, the people of Mindanao should be consulted,” he said.
President Rodrigo R. Duterte first declared martial law in Mindanao on May 23, 2017, following the siege of Marawi City by the Maute terrorist group. Two months later, Congress extended martial law to the rest of the year, and thereafter approved anew a full-year extension covering this year.
For his part, Senator Panfilo M. Lacson said in a statement on Thursday that the bombing in Isulan “only suggests that neither martial law nor the Bangsamoro Organic Law could guarantee peace in Mindanao.”
“Instead, it is my view that the National Security Council and our ground security forces should take a hard look at their security plans and strategy, especially in the South, and try to avert the vicious cycle of talking peace with one tribal group while alienating the others,” Mr. Lacson also said in his statement.
“Thus, the Moro Islamic Liberation Front came into being and developed themselves into the dominant armed force in Mindanao after we dealt peace with the Moro National Liberation Front. As it may be shaping now, as we make peace with the MILF, a breakaway group is sowing terror.”
“Having said that, I filed a Senate bill to enhance the Human Security Act of 2007, which has not been proving itself effective in addressing terrorism in our country.”
In a separate statement, Mr. Lacson said Senate Bill 1956, the proposed Anti-Terrorism Act of 2018, enhances the Human Security Act of 2007.
Among the bill’s salient provisions are the formation of the Anti-Terrorism Commission (ATC) from the present Anti-Terrorism Council, as well as judicial authorization to conduct surveillance as authorized by the ATC and to instruct the Department of Information and Communications Technology to compel the telecom and internet service providers to produce all customer information and call and text data records of any person suspected of terrorist attacks defined in the bill. — Charmaine A. Tadalan

House resolution extending funds for victims of human rights abuse OK’d on final reading

By Charmaine A. Tadalan
THE HOUSE OF Representatives has approved on third and final reading a joint resolution extending until December 2019 reparation funds to victims of Ferdinand E. Marcos’s martial-law regime.
House Joint Resolution No. 26, authored by Bayan Muna Rep. Carlos Isagani T. Zarate, proposes to authorize the Bureau of Treasury (BTr) and Land Bank of the Philippines (LBP) to release funds to victims of human rights violation and to their families after it ended in May 2018.
Republic Act 10368, enacted in 2013, provides in part reparation and recognition of victims of human rights violations during the Marcos regime and mandates the Human Rights Victims Claims Board (HRVCB) to distribute for these purposes a total of P10 billion in two years. The board’s life was extended for another two years with Republic Act 10766.
According to Mr. Zarate, as of May 11, 2018, the board has approved 11,103 legitimate claimants among more than 75,000 applicants.
“As of June 28, 2018, the HRVCB account with the Land Bank of the Philippines reported a balance of P792.628 million,” Mr. Zarate said in his resolution. The remaining balance had been maintained until Aug. 11 and is expected to be reverted to the BTr.
The resolution also seeks to provide a more efficient distribution of funds to the victims, following the reported issuance of 451 “problematic” checks.
Mr. Zarate cited “291 checks which amounted to P239 million, representing unreleased checks, and 160 checks amounting to P110.9 million, representing checks issued to payees who are now deceased.”

Duterte: PHL better off with a dictator like Marcos because Robredo ‘cannot hack it’

By Arjay L. Balinbin, Reporter
President Rodrigo R. Duterte on Thursday, Aug. 30, said it would be better for Filipinos to choose a dictator the likes of the late president Ferdinand E. Marcos, Sr. than letting Vice-President Maria Leonor “Leni” G. Robredo run the country because “she cannot hack it.”
“If I stop now my crusade against drugs and if there is no order in this place, the Philippines, and corruption will continue, patay yun (it won’t work). I said you’re better off choosing a dictator the likes of Marcos. That’s what I suggested,” Mr. Duterte said in his remarks at the 49th Charter Day celebration of Mandaue City at the Mandaue City Cultural and Sports Complex in Cebu on Thursday evening.
He added: “Puwede kayong magkaroon ng (You can follow the) constitutional succession, si (Ms.) Robredo, but she cannot hack it.”
Last Aug. 13, Mr. Duterte said that once he resigns as president, he prefers the “likes” of Senator Francis Joseph G. Escudero or former Senator Ferdinand “Bongbong” R. Marcos, Jr. as his successor over his constitutional successor Ms. Robredo.
Also during his speech, Mr. Duterte said he “stands by [his] words” that Ms. Robredo’s hometown, Naga City, is a “hotbed” of shabu.
“Ang (It’s her) brother-in-law niya ang nagdala ng (who brought) drugs sa (to) Bicol. Totoo yan. Siyempre (That’s true, of course. [They are just in] denial,” he added.
Last week, the city council of Naga has issued a resolution declaring “indignation” over Mr. Duterte’s statement. At the same time, the city council extended an invitation to Mr. Duterte to visit and “walk our safe, peaceful, and drug-free streets.” The city, an independent component city within Camarines Sur, is the hometown of Vice-President Maria Leonor G. Robredo, who belongs to the opposition party. Her late husband, Jesse M. Robredo, was mayor of the city for six terms starting in 1988 and later appointed as Interior and Government secretary under the previous administration of Benigno S.C. Aquino III.
 

1...12,03212,03312,034...14,238Page 12,033 of 14,238
ADVERTISEMENT
ADVERTISEMENT
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin X Youtube