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Hold-departure order issued against alleged drug lord

By Charmaine A. Tadalan
THE Makati City Regional Trial Court (RTC) issued on Friday a hold-departure order (HDO) against alleged drug lord Peter Go Lim.
“The Bureau of Immigration and Department is hereby ordered to prevent or hold the departure from the country of accused, Peter Go Lim,” the Order stated.
The order was granted after the legal counsel of Mr. Lim failed to appear at the scheduled hearing today on the Urgent Ex-Parte Motion for the issuance of the HDO.
Mr. Lim, together with Rolan “Kerwin” E. Espinosa, Marcelo L. Adorco, and Ruel S. Malindangan, is liable for violation of Section 26(B) in relation to Section 5, Article II of the Comprehensive Dangerous Drugs Act of 2002, with no bail.
Philippine National Police (PNP) spokesperson Benigno Durana, Jr. said tracker teams have been deployed to go after Mr. Lim. “We have tracker teams actually running after him and son. That’s why we appeal to (the) public if ever they have information that would lead to the whereabouts of Peter Lim,” Mr. Dutana said in a press briefing, Friday.
“We would be happy to look into it, we only have tracker teams, but if we pull our resources the general public will help us, we can put Peter lim before the bar of justice,” he added.
For his part, National Bureau of Investigation (NBI) Director Ferdinand Lavin said regional and district directors have been ordered to “hunt down” the 72-year-old Cebu-based businessman.
Both the PNP and NBI said there are no reports yet on whether Mr. Lim is still in the country.

DoTr chief targets November for resolving license-plate backlog

By Karl Angelo N. Vidal, Reporter
THE Department of Transportation (DOTr) said it will be able to tackle the license plate backlog by November as license plates are now being manufactured in the country.
In an interview with The Chiefs in One News, Transportation Secretary Arthur P. Tugade said the department is targeting to finish the 2017 backlog on license plates. “Ang target niyan by November of this year, lahat noong 2017. ‘Yung 2018, [we’re] looking forward na,” he said. (We target to finish the backlog by November this year the license plates in 2017. For 2018, we’re looking forward to it.)
“Since July 1, we have started distributing plates since it is now manufactured here. We are focusing on the cars that should have had their plates from July 2016 onwards because that is when we took office,” he also said.
On Wednesday, the DOTr said the Land Transportation Office (LTO) is working to finally address the backlog of 11 million license plates after the Commission on Audit (COA) gave the go-ahead for their production.
The joint venture of Knieriem BV Goes and Power Plates Development Concept Inc. (JKG-PPI) is the government’s partner for the license plate production, but in 2015, COA ordered the LTO to stop the deal because of alleged violation of procurement rules.
Meanwhile, the LTO has signed a memorandum of agreement with the Land Bank of the Philippines (LANDBANK) and the Bureau of the Treasury expanding the lender’s online payment facility for LTO transactions nationwide.
“The online payment system eliminates several steps in the payment process,” LTO Assistant Secretary Edgar C. Galvante was quoted as saying in a statement Friday, adding that the online payment platform will also minimize opportunities for corruption.
Mr. Galvante explained the online payment portal of LANDBANK will cater to new registration transactions covering not only Metro Manila but all regional offices of LTO.
“Later on, the facility will cater to all LTO transactions,” he added.

Duterte slams US for warning against buying Russian submarines

By Camille A. Aguinaldo
President Rodrigo R. Duterte on Friday, Aug. 17, slammed the United States for warning the Philippines against buying submarines from Russia, saying the helicopters it gave have become unusable.
“You sold us six helicopters. One or two or three crashed already… Is that the way you treat an ally and you want us to stay with you for all times?” he said in his speech during the Hugpong ng Pagbabago convention in Davao City.
“Who are you to warn us?” he added.
US Defense Assistant Secretary for Asian and Pacific Security Affairs Randall G. Schriver last Thursday advised the Philippines not to procure Russian military equipment, saying that the US could be a “better partner” than Russia on defense matters.
Defense Secretary Delfin N. Lorenzana has said Moscow offered the Philippine Navy two kilo-class diesel electric submarines with an option of a soft loan if the Philippine government was short of funds.
In his speech, Mr. Duterte pointed out that the Western country was zeroing in on the Philippines regarding the planned procurement but has not warned other Asian countries from buying Russian military equipment.
“You want us to remain backwards. Vietnam has seven, Malaysia has two, Indonesia has about eight. Tayo lang ang wala. Hindi naman ninyo binibigyan kami (We are the only ones with nothing. You’re not giving us anything),” he said.
“Think about it, why did you not stop the other countries in Asia? Bakit kami pinipigilan niyo? (Why are you stopping us?)… Kayo ang magbigay ng submarino? Magi-implode ‘yun (If you’re giving a submarine, it will implode)… just like the helicopters you sold us” he added.
He further said the planned acquisition of submarines was not meant to be directed against the US nor other countries, such as China, because the Philippines remained “underarmed.”

PDEx year-to-date bond listings top P120-B after SMC Global issuance

THE listing of SMC Global Power Holdings Corp.’s P15-billion fixed-rate bonds on Friday brought the year-to-date new listings at the bond exchange at P120.92 billion, officials of Philippine Dealing & Exchange Corp. (PDEx) said.
This year’s listings bring the total tradable corporate debt instruments to P913 billion, issued by 47 companies across 147 securities, they added.
“The large sizes have been par for the course for the SMC (San Miguel Corp.) group as its companies have always come to the capital markets trusting the capability of investors to supply the funding and confident of their ability to access those resources,” said PDEx President and Chief Operating Officer Antonino A. Nakpil during the listing ceremony.
Yesterday, SMC Global Power listed on the bond exchange the second and last part of a P35-billion shelf registration. The Series G fixed rate bonds due 2023 follows last year’s P20-billion bond listing that capped 2017’s record listing.
Mr. Nakpil said he is noting the company’s activity in the capital markets as it works towards what is expected to be the largest ever initial public offering to be done in the Philippine equity market and raise at least P120 billion in funds, locally and globally.
Elenita G. Go, general manager of SMC Global Power, declined to comment on whether the company would be returning soon to the bond market to raise funds for its long-term infrastructure projects, but said it would do so when the need arises.
She described the bond issuance as “a big step” towards the company’s mission to support nation-building and contribute to the country’s economic progress.
SMC Global Power is conglomerate SMC’s entity for its power generation projects. Earlier this year, the unit was cleared by the antitrust regulator to acquire for $1.9 billion the equity shareholder entities of the 630-megawatt (MW) Masinloc coal-fired power plant in Zambales.
Its portfolio includes Sual power plant in Sual, Pangasinan; San Roque hydroelectric multipurpose power project in San Manuel, Pangasinan; Ilijan power plant in Ilijan, Batangas; Limay greenfield clean coal plant in Limay, Bataan; Angat hydroelectric power plant in Angat, Bulacan; and greenfield power plants in Malita, Davao del Sur and Limay, Bataan.
Aside from the Masinloc plant, the acquired company has energy storage projects in Zambales and in Kabankalan, Negros Occidental.
“If they will continue to expand, which is their plan anyway, we’ll be there to support them,” said BDO Capital and Investment Corp. President Eduardo V. Francisco, noting SMC Global Power’s “very strong” management.
BDO Capital is issue manager, lead underwriter and bookrunner of the bond issuance along with BPI Capital Corp., China Bank Capital Corp. and PNB Capital and Investment Corp. — Victor V. Saulon

Ayala Land to raise P8 billion from five-year bond issue

AYALA Land, Inc. plans to raise P8 billion by issuing fixed-rate retail bonds with a maturity of five years which will be listed on the bond exchange, the company told the stock exchange on Friday.
The bonds represent the remaining unissued balance of its P50-billion debt securities program as approved by the Securities and Exchange Commission (SEC) in March 2016, it added.
The company did not say when it plans to issue the bonds or the target listing at the Philippine Dealing and Exchange Corp.
It said the debt issuance was approved by its board of directors on Friday afternoon during their regular meeting.
It also approved a regular cash dividend of P0.252 per common share.
“This second half regular cash dividend reflect a 5% increase from last year’s second half dividend per share of P0.24,” the company said.
The cash dividend will be payable on Oct. 2, 2018 to holders of common shares on record as of Sept. 6, 2018.
On Friday, Ayala Land shares rose 2.66% to close at P42.50.
Earlier this week, the company reported a second quarter net profit of P7.02 billion, up nearly 18%.
In the first half, net profit was P13.54 billion, up 17.6%. — Victor V. Saulon

Former top diplomat cautions against silence on Chinese presence in disputed waters

FORMER Foreign Affairs Secretary Albert F. Del Rosario on Friday reiterated that the Philippines should not remain silent on China’s “non-adherence to the law” in the South China Sea.
In his speech during a forum organized by Stratbase ADR Institute, Mr. Del Rosario said the Philippines should act instead “with peaceful resistance against threats” to the country’s sovereign rights.
“Let us not be willing victims by supporting and fueling China’s non-adherence to the rule of law. Concomitantly, we cannot remain silent,” he said.
“By being silent, we have weaponized an aggressor to do more harm. By being silent, we have encouraged further aggression into our territories and marine resources,” Mr. Del Rosario added.
He also said the country should stand up and begin to rally the support of other countries. The Philippines may seek the United Nations General Assembly to issue a resolution that would order China to comply with the arbitral ruling.
Mr. Del Rosario maintained that China must abide by the “totality of the UNCLOS (UN Convention on the Law of the Sea) and not choose its actions arbitrarily for its benefit.”
“Since our northern neighbor is a signatory to UNCLOS, it cannot pick and choose arbitrarily what benefits China,” he said.
He also cited successful cases wherein the states involved resolved territorial disputes, such as The Netherlands and Russia, Mauritius and United Kingdon, as well as Nicaragua and the United States.
“The losing parties in these cases ultimately and substantively complied with the award of the arbitral tribunal,” he said.
Mr. Del Rosario also lauded the recent remarks of President Rodrigo R. Duterte regarding China’s radio warnings in the region. The President earlier called on China to temper its behavior in the disputed region.
“Nine out of 10 Filipinos would be encouraged and inspired by this manifestation of our President’s positive leadership,” he said.
For her part, Australian Ambassador Amanda Gorely urged Southeast Asian nations to ensure the Code of Conduct in South China will not “prejudice the interests of third parties.”
In her speech, she highlighted the importance of a rules-based international system, especially in managing the situation in the South China Sea.
“Negotiating a strong and effective Code of Conduct for the South China Sea, without prejudicing the interests and rights of non-signatories, could make a positive contribution,” she said.
Ms. Gorely added that aside from the threats coming from countries ignoring international law, “countries that do not defend the rules when they are challenged” pose risks in defending the international system.
She advocated a dispute settlement mechanism under UNCLOS, which she said allowed Australia and Timor Leste to solve their maritime disagreements in a peaceful manner.
She pushed for freedom of navigation and overflight in the South China Sea region, saying that such principle has allowed Australia to bring support to the Philippines from trade to disaster responses.
“Any illegitimate restriction on freedom of navigation is unacceptable to Australia,” she said.
The United Kingdom also appealed for all parties in the South China Sea region to respect freedom of navigation and international law, including the arbitral ruling favoring the Philippines.
“It is critical for regional stability, and for the integrity of the rules-based international system, that disputes in the region are resolved, not through force, militarization or coercion, but through dialogue and in accordance with international law,” said UK Minister of State for Foreign and Commonwealth Office Mark Field MP. — Camille A. Aguinaldo

Groundbreaking on Marawi’s rehabilitation moved to September

TASK Force Bangon Marawi (TFBM) on Friday moved its groundbreaking on Marawi City’s rehabilitation from August to September, as it finalizes its deal with developer Power China.
“We are now saying that it will be on Sept. 19, the groundbreaking, But it will not affect our target deadline of completing the most affected area rehabilitation by December of 2021,” Housing and Urban Development Coordinating Council (HUDCC) chair Eduardo D. Del Rosario told reporters in a press briefing.
According to HUDCC undersecretary Falconi V. Millar, the Bangon Marawi selection committee is currently undergoing negotiations with Power China, which is expected to be completed “by end of next week.”
The TFBM initially was looking at Chinese-led Bangon Marawi Consortium(BMC) as partner. Mr. Del Rosario denied the disqualification of the BMC had to do with its being previously blacklisted by the World Bank.
“I would like to clarify that blacklisting has no relevance with the negotiation because they were cleared already by World Bank as early as 2012, 2013. And they have projects in other countries. World Bank projects. It was not the issue,” he said.
“Before, we were negotiating with the Bagong Marawi Consortium. And because of our issues on legal, financial and technical capacity of the developer, we declared an unsuccessful negotiation because they were not able to comply with all the required technical, financial and legal requirements,” Mr. Del Rosario also said.
With the present negotiation with Power China, the HUDCC chair said, “As of now, it’s (the rehabilitation) about P16.8 billion. But the nitty-gritty of the negotiation on the details, it will be undertaken starting today and we hope to complete it by next week.” — Charmaine A. Tadalan

STI says new-campus building program in full swing

STI Education Systems Holdings, Inc. said its expansion is in “full swing” with new campuses in various stages of construction, bringing the company’s asset base to nearly P1.6 billion.
The construction projects in progress are new sites such as STI Lipa in Batangas, STI Sta. Mesa in Manila, STI Pasay-EDSA, and STI San Jose del Monte in Bulacan, it told the stock exchange on Friday.
“The construction of STI Lipa project (ground level to fourth floor), for instance, was completed last July 2018; the fifth floor up to the roof-deck, as well as the rest of the other buildings, should be completed in November 2018, in time for the second semester,” it said.
STI Holdings is the proprietor of one of the biggest networks of private schools in the country. Its asset growth is largely due to the increase in receivables for tuition and other school fees, as well as the increase in property and equipment acquired for construction projects.
“The expansion and improvement of campuses under STI Holdings is meant to cater to the growing need of young Filipinos to receive education that is relevant to today’s industries,” the listed company said.
The network of schools being managed by group now totals 75, with 38 owned schools and 37 franchised schools comprising of 65 colleges and 10 education centers, STI said.
“As of June 30, 2018, schools under STI Holdings have received a total of 84,229 students — 41,619 of whom are enrolled in courses approved by the Commission on Higher Education,” it said.
“Meanwhile, 40,891 enrolled in Department of Education programs with 39,943 in Senior High School and 948 in basic education. The remaining 1,719 are enrolled in technical courses mandated by the Technical Education and Skills Development Authority,” it added.
STI said the number of enrollees helped bring in total revenue of P460.30 million and a gross profit of P222.6 million during the three months to June.
During the second quarter, the net loss narrowed to P77.74 million from P212.99 million previously.
On Friday, STI shares were unchanged at P1.

DoTr chief outlines airport roadmap

TRANSPORTATION Secretary Arthur P. Tugade outlined the government’s airport roadmap to include multiple airports connecting Bulacan, Cavite, and NCR.
“The government direction is multiple airport,” he said in an interview with The Chiefs on One News “You put that in Bulacan where there is unsolicited proposal or you develop Sangley. Once you have Bulacan and Sangley, and then you have NAIA (Ninoy Aquino International Airport) and you develop Clark. Meron kang (You have) multiple airport. Ngayon, pag nadevelop ang Bulacan at ‘pag nadevelop ‘yung Sangley, boss, you will have a prime real estate there dun sa NAIA.” (Now, if Bulacan is developed and Sangley is developed, you will have prime real estate in NAIA.)
Mr. Tugade also cited standard conditions which include no sovereign guarantee, no subsidy in all forms, and no contractual commitment to transfer flights to other airports.
“Having said that, what we are trying to create is…an environment that is dictated by market. Economic forces decide that,” he said.
The consortium of seven submitted an unsolicited proposal to rehabilitate NAIA. It is composed of Aboitiz InfraCapital, Inc., AC Infrastructure Holdings Corp., Alliance Global Group, Inc., Asia’s Emerging Dragon Corp., Filinvest Development Corp., JG Summit Holdings, Inc. and Metro Pacific Investments, Corp.
Singapore-based Changi Airports International Private Ltd. is its technical partner. — Vann Marlo Villegas

Vitarich Q2 profit drops sharply as costs rise

VITARICH Corp. said it posted a second-quarter net profit of P338,000 in the second quarter, down sharply from P49.80 million reported a year earlier, as gross sales slipped while operating expenses climbed.
In its financial report to the stock exchange, the company said gross sales amounted to P176.21 million, down 6.7% from a year earlier. This failed to match the double-digit rise in operating expenses at 38.4% to P181.71 million.
In the first half, the company recorded a net profit of P52.08 million, down 44.2% from a year earlier.
Gross sales dropped 1.6% to P377.85 million, the company said.
Vitarich managed to trim its operating expenses during the half, thus finishing the first half with an operating profit of P109.11 million, “driven by the strong performance of all operations.” The figure was just slightly lower than the year-earlier P109.41 million.
“This was achieved despite higher feed costs due to the increase in prices of key raw materials,” it said.
The company said its feed business will “continue to deliver superior products through continuing improvements in its formulations and production processes.”
Vitarich said it also plans to venture into piglet production to support its hog feeds business. It aims to reposition its animal and aqua feed lines.
“Vitarich will expand the poultry business by increasing its breeder capacity. [It] will also increase its food market base by developing chicken value-added products and expanding its distribution channels by way of penetrating hotel, restaurant, and institution accounts, and tapping selected supermarket for its fresh dressed chicken,” it added.
On Friday, Vitarich shares declined by 1.65% to close at P2.39. — Victor V. Saulon

Senate inquiry sought on PhilHealth’s P4.75B loss

SENATOR Leila M. De Lima has filed a resolution seeking an investigation into the P4.75 billion net loss of the Philippine Health Insurance Corporation (PhilHealth) in 2017 as reported by the Commission on Audit (CoA).
Filed last Aug. 14, Senate Resolution No. 840 directed the Senate committees on health and demography, chaired by Senator Joseph Victor G. Ejercito, and on Social Justice, Welfare and Rural Development, chaired by Ms. De Lima, to conduct the inquiry.
According to the 2017 CoA report, PhilHealth has registered a negative P3.905 gross margin from operations, resulting in operating losses worth P10.489 billion.
It also showed the health insurance agency failed to avail itself of the government’s P37.06 billion allocation for indigents’ premium contribution.
The audit government agency raised concerns over the P4.75 billion net loss, noting that it may adversely affect the implementation of projects and the actuarial life of PhilHealth.
Ms. De Lima said there was a need to determine the root cuase of the incurred losses and look into the possibility of the PhilHealth leadership.
“The fiscal solvency of PhilHealth is paramount for the meaningful implementation of the National Health Insurance Program and the government’s objective of progressively providing a universal health program for all Filipinos,” Ms. de Lima said.
“Hence, financial deficits and continued profit loss shall significantly affect the National Health Insurance Fund and reserve fund,” she added. — Charmaine A. Tadalan

DBM: P45.7 million saved Jan.-July in fare agreement with airlines

By Elijah Joseph C. Tubayan, Reporter
THE GOVERNMENT has saved P45.7 million from the Government Fares Agreement (GFA) as of the first seven months of the year, the Department of Budget and Management (DBM) said.
The DBM said that about 160 agencies tapped the GFA program with P480.1 million worth of airline tickets as of end-July 2018.
“Th(ese) savings were generated from airline tickets purchased by government agencies enrolled in the program at a discount of 8% to 9% of the regular prices of participating airlines,” The DBM said in a statement on Friday.
It also noted the amount does not include unquantified savings from additional benefits from the program such as free first rebooking fee, waived processing fee for domestic and international tickets and additional weight allowances, as well as airport lounge privileges.
The GFA is an initiative of the Department of Budget and Management (DBM) and the PS-Philippine Government Electronic Procurement System (PS-PhilGEPS) to “ensure savings in the procurement of the air transportation needs of all government employees for their official trips.”
The government is partnered with Philippine Airlines (PAL) and Cebu Pacific (CEB) since 2016.
It also inked a new GFA with Air Asia Philippines on May 2 this year.

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