The Philippines was in the top three of nine countries in terms of meeting needs and expectations in their relationships, according to a study by Prudential Corp. Asia. Read the full story.
Here’s a quick glance at how PSEi stocks fared on Wednesday, February 14, 2018.
THE CENTRAL BANK has shuttered a rural bank in the Dinagat Islands, marking the first to be ordered closed this year.
In a statement, the Philippine Deposit Insurance Corp. (PDIC) announced that it has taken over the operations of the Rural Bank of Loreto, Inc. yesterday.
This follows the decision of the Monetary Board — the highest policy-setting body of the Bangko Sentral ng Pilipinas (BSP) — to shut down the lender’s operations through an order issued on Feb. 9. As regulator of the local banking system, the central bank can close down banks found unviable to remain in business.
The Rural Bank of Loreto operates four offices around Dinagat Islands in Surigao del Norte. Its head office is located in San Jose town, while three other units are in the municipalities of Cagdianao, Libjo (Albor) and Loreto.
The provincial lender holds P5.95 million of deposits, which is spread across 2,264 deposit accounts. Nearly all deposits are covered by deposit insurance at P5.94 million, the PDIC said.
Bank deposits are insured up to P500,000 per depositor, according to the law.
Under the PDIC charter, the state insurer steps in as receiver of problem banks and acquires the lender’s assets in order to pay outstanding liabilities to depositors. Upon assuming the assets, PDIC usually conducts public biddings to dispose these properties and raise funds which it will then use to settle outstanding deposits.
The PDIC is looking to auction off at least P157 million worth of properties this month through three separate auctions to be held in Metro Manila and Davao, which include residential, commercial and agricultural lots.
The insurer raised a total of P259.16 million in 2017 from selling the assets incurred from closed banks, as well as corporate properties. Properties worth P201.08 million raised premiums worth P58.08 million, the PDIC said.
The central bank ordered the closure of six rural banks and one thrift bank last year. In 2016, the regulator closed 22 lenders.
The BSP, PDIC, and the Land Bank of the Philippines have extended the Consolidation Program for Rural Banks until 2019, as they seek to promote mergers among rural lenders based in one province or region. These mergers are seen to fortify the capital and asset base of the lenders, making them more liquid and financially sound. — Melissa Luz T. Lopez
By Arjay L. Balinbin
THE PHILIPPINE Drug Enforcement Agency (PDEA) is willing to present the government’s data on President Rodrigo R. Duterte’s nationwide war on drugs to the International Criminal Court (ICC) for its preliminary examination into the “crimes against humanity” complaint filed against Mr. Duterte by the camp of opposition Senator Antonio F. Trillanes IV.
“If the data will be summoned in relation to such hearing, then PDEA will support in terms of the data. If the data is relevant, automatically, we will submit it,” PDEA Spokesperson Derrick Arnold Carreon said during the #RealNumbersPH media briefing at Malacañang on Wednesday, Feb. 14.
“This is precisely why we came out with these real numbers in order for us to become more transparent with regards to the conduct of the drug campaign,” Mr. Carreon also said.
For her part, Presidential Communications Assistant Secretary Ana Maria Paz R. Banaag said: “While we know that the complaints filed before the ICC are founded on political motive and baseless numbers, we reiterate that the Philippine government respects and protects human rights, and our police officers follow rules of engagement. There may be isolated cases of abuse, but our President never tolerated these cases.”
At the briefing, Mr. Carreon reported that “from July 1, 2016 to Feb. 8, 2018 — a total of 85,068 anti-illegal drug operations were conducted by PDEA and other law enforcement agencies, resulting in the arrest of 121,087 drug personalities. During the period, there were 4,021 drug personalities who died during anti-drug operations.”
GOVERNMENT WORKERS ARRESTED
“A total of 454 government workers were arrested nationwide for violation of Republic Act 9165 or the Comprehensive Dangerous Drugs Act of 2002. Out of these, 192 were elected officials, 44 were uniformed personnel and 218 were government employees. On drug law enforcers who were killed and wounded in anti-drug operations in the performance of their drug enforcement duties — 87 law enforcers were killed-in-action, while 227 were wounded-in-action,” he added.
As for minors rescued, Mr. Carreon said a total of 618 were rescued from involvement in illegal drugs activities.
“PDEA and other law enforcement agencies dismantled a total of 183 illegal drug facilities, composed of 174 drug dens and 9 shabu laboratories. The anti-drug operations conducted also resulted in the seizure or confiscation of 2,610.37 kilograms of methamphetamine hydrochloride or shabu worth P13.41 billion, posting P166.62 million increase since Jan. 17, 2018,” he reported.
“Dangerous drugs, controlled precursors, essential chemicals and laboratory equipment confiscated from July 1, 2016 to Feb. 8, 2018 were worth P19.61 billion, posting an increase of P269.74 million since Jan. 17, 2018.”
“And, on barangay drug clearing operations, as of January 2018, a total of 5,327 barangays have been declared drug-cleared. This is out of the total drug affectation of 24,000 — or bringing the drug affectation nationwide to 24,137 drug affected barangays, representing 57.42% of the 42,036 barangays nationwide.”
For his part, Philippine National Police (PNP) Spokesperson Chief Superintendent John C. Bulalacao reported that the PNP, based on the intent of the Presidential Memorandum Order No. 17, “shall resume the crucial role in the government’s anti-drug campaign in support of the Philippine Drug Enforcement Agency.”
He added that the PNP remains “optimistic with the prospect of less bloody anti-drug operations this time around, by prescribing supplemental operational guidelines when conducting ‘tokhang’ activities and law enforcement operations against drug personalities.”
“These supplemental guidelines are essentially founded on the fundamental principles of respect for human rights and strict adherence to the rule of law, with greater emphasis on transparency, accountability and command responsibility,” Mr. Bulalacao explained.
By Minde Nyl R. dela Cruz
HOUSE SPEAKER Pantaleon D. Alvarez yesterday, Feb. 14, said he will ask officials of the Manila International Airport Authority (MIAA) to suspend the operations of airlines who will refuse to make adjustments that will help decongest the Ninoy Aquino International Airport (NAIA) terminals within 45 days.
“We will ask the authorities na huwag nilang payagang mag-operate (to not let them operate). And we will also consider cancellation of their franchises… (that is a) violation,” Mr. Alvarez said on the sidelines of the committee on tourism hearing at the House of Representatives.
During the hearing, Mr. Alvarez noted that NAIA is the only airport in the world allowing mixed use of its terminals for domestic and international flights, which results to overcrowding.
He cited budget airline Cebu Pacific in particular for using Terminal 3, which is designed for international flights, for its domestic routes.
When asked to move out of Terminal 3 within 45 days, Cebu Pacific, Inc. President Lance Y. Gokongwei said: “Respectfully sir, given the way we sell tickets one year in advance and also the time it requires to move all our people and [do] the ground preparations, I think these drastic steps may take over a year of planning.”
Mr. Alvarez, however, insisted on the 45-day deadline and warned that airlines who will not comply may risk revocation of their franchises.
“Problema ng airline ’yun, problema nila ’yun. Bakit kayo nagbenta ng one year in advance? I-refund nila (That is the airline’s problem, it is their problem. Why do they sell the tickets one year in advance? Refund the money if they must),” the Speaker said.
Mr. Alvarez also told MIAA to divert some flights to Clark International Airport in Pampanga to reduce traffic at NAIA, the country’s main gateway.
Speaking in Filipino and English, the congressman said: “For example, the airport can no longer accommodate flights, then refuse them. And that way we can lessen the traffic even in the runways. Because no matter how we build terminals, if the runway cannot accommodate, it’s nothing), it’s useless.”
Moreover, the Speaker criticized Cebu Pacific for such practices as not using airport tubes, which compromises passenger comfort and safety, as well as failing to return the passenger terminal fee amount in canceled tickets.
Mr. Alvarez then castigated representatives of the Civil Aviation Authority of the Philippines (CAAP) for letting Cebu Pacific carry out these practices.
“Why do you allow these? That should not be the case, you are the regulatory agencies. You should promote the concerns of the public, not the concerns of the airline companies,” he said.
In 2017, NAIA Terminal 3 received 42,525 domestic and 19,085 international flights, according to data from MIAA. This translated to 6.44 million domestic and 3.85 international passengers. Outgoing flights, meanwhile, were 43,115 domestic and 18,935 international, carrying 6.48 million and 3.86 million passengers, respectively.
By Minde Nyl R. Dela Cruz
DEPUTY SPEAKER Gwendolyn F. Garcia on Wednesday, Feb. 14, called on other lawmakers to “stand together” against efforts “to diminish the power of this House of Representatives.”
Ms. Garcia’s statement is in response a statement by Albay Rep. Edcel C. Lagman on Feb. 12, as reported by SunStar, expressing his opposition to a move by the House leadership to not enforce the Office of the Ombudsman’s order to dismiss Ms. Garcia.
The Office of the Ombudsman ordered on Monday Ms. Garcia’s dismissal over the controversial P98.9 million Balili property in Naga, Cebu, that the Ombudsman said she purchased as provincial governor.
In response, Speaker Pantaleon D. Alvarez said the House will “definitely not” implement the order.
Ms. Garcia said in a privileged speech that the enforcement of the Ombudsman’s order “would impinge upon the constitutional and statutory authority of this House of Representatives exclusively to discipline any of its members.”
Ms. Garcia cited Article XI, Section 13 of the 1987 Constitution which provides for the powers, functions, and duties of the Ombudsman.
Among other functions, the Ombudsman may recommend the removal of any public official for any “illegal, unjust, improper, or inefficient” acts.
“Nothing at all in this provision, which defines in its entirety the powers, duties and functions of the Ombudsman, is there any mention, nay, even a suggestion, that the Ombudsman has the power to discipline any member of Congress, much less, to remove such member,” Ms. Garcia pointed out.
She added that Republic Act (RA) 6770 or the Ombudsman’s Law “specifically and expressly prohibits” the Ombudsman to remove a member of the House of Representatives.
Section 21 of the Ombudsman’s Law states that the Ombudsman has authority to remove from office any public official “except over officials who may be removed only by impeachment or over Members of Congress, and the Judiciary,” Ms. Garcia said.
“The Legislature therefore, interpreting the provisions of the Constitution on the powers of the Office of the Ombudsman, expressly excluded members of Congress, along with impeachable officials and members of the Judiciary, from the Ombudsman’s disciplinary authority,” Ms. Garcia said.
The Deputy Speaker refused to discuss the merits of the case and to be interpellated after her speech.
Mr. Lagman said he “[respects] the position of Deputy Speaker Garcia not to be interpellated” but added that he will respond to Ms. Garcia on Monday, Feb. 19, as his name was “extensively mentioned” in her privileged speech.
NEW YORK-based advocacy group Human Rights Watch (HRW) on Wednesday reiterated its call for the Philippine government to drop what it has tagged as “politically motivated” charges against Senator Leila M. de Lima, who marks her first year in detention on the 24th. “Everyday that (President Rodrigo R.) Duterte keeps De Lima in jail, he undermines Philippine democracy. Senators and representatives, whatever their political views, should be calling for her release,” HRW deputy Asia director Phelim Kine said in a statement. Ms. De Lima was arrested on Feb. 24, 2017 due to her alleged involvement to the illegal drug trade inside the National Bilibid Prison while she was the Justice secretary. Several groups supporting the detained senator, one of the staunchest critics of Mr. Duterte, flocked to the Senate early Wednesday to make a similar call. Presidential Spokesperson Harry L. Roque, however, condemned the HRW’s statement, saying that the “meddling” group was misleading the public and mocking the integrity of the justice system. ”Senator De Lima is being portrayed as a prisoner of conscience, a so-called martyr for justice. She is none of these; she is facing charges of criminal nature, plain and simple,” he said in a statement. — Camille A. Aguinaldo
THE NATIONAL Irrigation Administration (NIA) Region 3 office held a forum with stakeholders in San Fernando, Pampanga on Feb. 9 as part of a series of discussions for ensuring transparency in project implementation. In a statement released by the NIA head office, Administrator Ricardo R. Visaya said the event was intended to update Pampanga’s farmers on irrigation facilities and ongoing projects as well as gather feedback and recommendations. Pampanga represents 18% or 52,102.58 hectares of the total potential irrigable areas in the Central Luzon Region, with a total developed area of 158,146 hectares. Based on the 2017 Rice Production Output, the province contributed 6% or 280,000 metric tons of the incremental rice production of the country.
See related story New law gives free irrigation for farmers on https://goo.gl/znB8D2
STORM BASYANG (international name: Sanba) has weakened on its way out of the Philippine area yesterday, returning into its initial low pressure area status. However, weather bureau PAGASA warned in its 5 p.m. update on Wednesday, Feb. 14, that the weather disturbance could strengthen again into a tropical depression as it continues to dump moderate to heavy rains over Palawan. Basyang was forecasted to be out of the country by Thursday afternoon. Basyang, the second typhoon to enter the Philippines this year, brought high rainfall levels that left various parts of Mindanao and the Visayas flooded. Meanwhile, the tail-end of a Cold Front will bring scattered light to moderate, with at times heavy rains over Quezon, Bicol Region and Eastern Visayas. PAGASA said “residents of these areas must continue monitoring for updates, take appropriate measures against possible flooding and landslides.”
MEMBERS OF the multi-sector Metro Cebu Bridge Management Board (MCBMB) wants to defer the implementation of the P711- million depression road project along UN Avenue and Plaridel Street in Mandaue City until an updated study and traffic management plan are put in place. “We are not against development and progress but we have to do what is the right project,” said Glenn Soco, chairman of the Regional Development Council-7 infrastructure committee. At a meeting of the MCBMB Tuesday, it was pointed out that the project, under the Department of Public Works and Highways (DPWH) and awarded to contractor B.M. Marketing, was based on an old study by the Japan International Cooperation Agency, which needs to be updated. MCBMB Co-chairman Pericles Dakay said the project has to be reviewed given the “substantial changes” in the present landscape, such as the expansion of the Mactan-Cebu International Airport and the economic growth of neighboring Lapu-Lapu City. — The Freeman
See full story on https://goo.gl/QMcmti
SENATORS MARIA Lourdes Nancy S. Binay and Joseph Victor G. Ejercito yesterday urged the administration to fast-track actions that address the sewerage problem in Boracay Island, one of the country’s most popular tourist destinations. Ms. Binay, chair of the senate committee on tourism, wants the Department of Environment and Natural Resources and Aklan local officials to create citizens’ teams to monitor the cleaning operations. For his part, Mr. Ejercito wants the erring private establishments and local officials to be held accountable for ignoring environment laws, which led to the island’s untreated wastewater and sewage problem. “I believe that those private establishments that are found guilty of not following environmental laws and that have caused the deterioration of the situation in Boracay has to be charged as well as those government officials who approved the permits,” he said in an interview with reporters. “Let us give a chance for Boracay to breathe,” he added. — Camille A. Aguinaldo
GOVERNMENT AND private sector representatives of the four-country BIMP-EAGA are meeting in Bandar Seri Begawan, Brunei starting yesterday, Feb. 14, for the annual strategic planning under the sub-region’s Vision 2025. In a statement, the Mindanao Development Authority (MinDA) said the 2018 BIMP-EAGA Strategic Planning Meeting aims to identify specific projects for the sub-region’s five pillars of development, which are connectivity, food basket, environment, tourism, and sociocultural and education. MinDA is the Philippine’s coordinating office for the Brunei, Indonesia, Malaysia, Philippines-East ASEAN Growth Area (BIMP-EAGA). “This year’s meeting focuses (on) concretizing steps to operationalize strategies under the BIMP-EAGA Vision 2025 as adopted by the Heads of States during the EAGA Leaders Summit in Manila last year,” said Assistant Secretary Romeo M. Montenegro, MinDA deputy executive director. Mr. Montenegro said among the identified projects are “establishment of new air and sea links, cross-border power interconnection and renewable energy development, agribusiness development, better trade facilitation arrangements, sociocultural exchanges, eco-tourism and green cities development.” The Philippine focus areas for BIMP-EAGA are Mindanao and Palawan. — Mindanao Bureau
