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Ex-cashier flees with P8M from Ilocos Sur firm

BAGUIO CITY — A former cashier of Ilocos Sur-based private firm Shellme Energy Resources Incorporated (SERI) is being hunted down after scamming her former employer with over P8 million.

The National Bureau of Investigation (NBI) also filed a total of 136 counts of violation of the Anti-Money Laundering Law against the former employee, who embezzled SERI’s funds into her personal account a total amount of P8.1 million.

As a cashier, she was responsible for preparing checks for SERI via online banking, but NBI found that she reprinted a total of 136 checks, 95 of which were encashed, while 41 checks were traced to have been deposited to her personal account.

Aside from Qualified Theft, the NBI also probed the Money Laundering aspect (of the Qualified Theft) in relation to Section 6 of R.A. 10175 (Cybercrime Prevention Act of 2012), pursuant to the directive of NBI Director Jaime B. Santiago.

A Warrant of Arrest for Qualified Theft has been issued against her with no bail recommended, while the 136 counts of violation of the Anti- Money Laundering Law filed have undergone evaluation by the Vigan City Prosecutor’s Office, the NBI said.

The case was recommended on Oct. 11 to be docketed for Preliminary Investigation by the Vigan City Prosecutor’s Office finding Arce’s scheme complete of the essential elements of money laundering. — Artemio A. Dumlao

News reporter shot dead in Zamboanga City

COTABATO CITY — A gunman shot dead a 56-year-old female radio news reporter in an attack in Barangay Tumaga in Zamboanga City on Tuesday night.

In separate reports released Wednesday, the Zamboanga City Police Office and the Police Regional Office-9 stated that Maria Vilma L. Rodriguez was shot thrice with .38 caliber revolver by an attacker while seated close to the store of her mother along Comet Street in Barangay Tumaga, killing her instantly.

The killer of Ms. Rodriguez managed to escape amid the commotion triggered by the gunshots that reverberated through the area. She was declared dead on arrival by doctors in a hospital where she was brought by emergency responders for treatment.

The victim, a single mother who has four children, was a host of the Barangay Action Center program of the 105.9 E-Media radio in Zamboanga City that also has a social media online news platform.

She had worked as a volunteer reporter of a Brigada radio station in Zamboanga City before she joined the E-Media broadcast and online news entity, according to reporters covering the Police Regional Office-9 and the military’s Western Mindanao Command.

Brig. Gen. Bowenn Joey M. Masauding, director of PRO-9, told reporters on Wednesday that their intelligence units and barangay officials in Tumaga are together trying to identify her killer for prosecution. — John Felix M. Unson

BARMM, Indonesia tackle regional health services 

COTABATO CITY — The Bangsamoro government had lengthily briefed ranking officials of the Indonesian Embassy in Makati City on how it is providing health interventions to the local communities benefiting from a peace process that Indonesia is helping push forward.

Indonesia is a member of the influential Organisation of Islamic Cooperation (OIC), a bloc of more than 50 Muslim states, including petroleum-exporting countries in the Middle East and North Africa, that helped broker the separate peace compacts of the Moro National Liberation Front and the Moro Islamic Liberation Front (MILF) with Malacañang.

Radio reports in Central Mindanao on Wednesday morning stated that the physician-ophthalmologist Kadil M. Sinolinding, Jr., health minister of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), had talked lengthily about the “good practices” of the Ministry of Health (MoH) in BARMM in extending health services to constituent Muslim, Christian and indigenous communities during the Indonesia-Philippines Health Forum last Monday.

“That activity gave us a chance to brief them on our best practices in health services that we extend to the local communities,” Mr. Sinolinding said.

The MoH-BARMM covers five provinces and three cities in Mindanao, grouped under the Bangsamoro autonomous government, established in 2019 based on the peace agreement between the MILF and the national government, forged with the support of OIC-member states.

Among the topics discussed in the Indonesia-Philippines Health Forum were the MoH-BARMM’s extensive vaccination campaigns to forestall measles outbreak and the spread in the autonomous region of other diseases preventable with vaccines.

“Our health workers involved in those very taxing missions hike far distances, cross rivers and marshlands and ride boats to cross islands in the seas and inland swamps to reach the villagers they ought to vaccinate. That, I told them in my briefing,” he said. — John Felix M. Unson

PSEi drops to 7,300 level as market stays cautious

BW FILE PHOTO

PHILIPPINE SHARES went down to the 7,300 level on Wednesday, tracking the performance of most US indices, as the market continued to look for fresh leads.

The Philippine Stock Exchange index (PSEi) fell by 0.61% or 45.50 points to close at 7,367.66 on Wednesday, while the broader all shares index declined by 0.85% or 34.74 points to end at 4,050.76.

“Philippine stocks slipped along with Wall Street, as investors grappled with ongoing concerns about rising interest rates and processed the latest earnings reports released this week,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Back home, value turnover remained weak as a certain number of institutions were closed over the typhoon, while others awaited more third quarter financial results and expectations of policy easing by the central bank,” he added.

Value turnover went down to P4.52 billion on Wednesday with 1.2 billion issues changing hands from P5.31 billion with 916.59 million shares traded on Tuesday.

On Wednesday, the foreign exchange market was closed as the government suspended work and classes due to Tropical Storm Trami, locally known as Kristine.

“The local market pulled back this Wednesday. Investors took a cautious stance as the local market remains without a fresh positive catalyst,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message. “Net foreign selling, attributed to the peso’s weakened state and the rise in the US’ long-term treasury yields, also contributed to the decline.”

Net foreign selling increased to P159.24 million on Wednesday from P16.04 million on Tuesday.

US stocks ended little changed on Tuesday, but the Nasdaq eked out a modest gain while investors kept an eye on Treasuries yields and awaited more earnings to assess the health of American companies, Reuters reported.

In a choppy session, the Dow Jones Industrial Average fell 6.71 points or 0.02% to 42,924.89; the S&P 500 lost 2.78 points or 0.05% to 5,851.20; and the Nasdaq Composite gained 33.12 points or 0.18% to 18,573.13.

The benchmark 10-year note yields earlier reached 4.222%, the highest since July 26, as investors reassessed expectations for the US Federal Reserve’s policy trajectory. Traders are pricing in an 89.6% chance of a 25-basis-point interest rate cut in November, according to CME’s FedWatch.

Back home, majority of sectoral indices closed lower on Wednesday. Services dropped by 1.92% or 43.84 points to 2,237.76; property went down by 1.03% or 30.40 points to 2,897.61; industrials retreated by 0.23% or 24.14 points to 10,076.75; and financials declined by 0.17% or 4.23 points to 2,406.99.

Meanwhile, mining and oil rose by 0.43% or 37.49 points to 8,706.62; and holding firms climbed by 0.07% or 4.78 points to 6,190.26.

Decliners beat advancers, 128 versus 71, while 55 names were unchanged. — R.M.D. Ochave with Reuters

Trade dep’t hoping to wrap up free trade talks with EU by 2026

REUTERS

THE PHILIPPINES is hoping to conclude negotiations for a free trade agreement (FTA) with the European Union (EU) by 2026, a trade official said.

On the sidelines of the 50th Philippine Business Conference and Expo, Department of Trade and Industry (DTI) Undersecretary Allan B. Gepty said 2026 is the internal target, but President Ferdinand R. Marcos, Jr. has said that the ultimate aim is for negotiations to wrap up by 2027.

“Internally, we are targeting 2026. So we will exert all our efforts. Because the EU is our major source of investments and an FTA will definitely increase investment,” Mr. Gepty said.

“In fact, just the signal that we are working towards an FTA already has a positive effect, so we hope to sustain that momentum,” he added.

The two parties resumed negotiations in Brussels last week. Talks had been on hold since 2017.

According to Mr. Gepty, the internal 2026 target will ensure no gap in trade privileges should the Philippines lose EU concessions by graduating to upper-middle-income status.

The Philippines participates in the EU’s GSP+, a special incentive arrangement for low and lower middle-income countries. It grants the country zero duties on 6,274 made products.

“In that context, there’s a pressure for us to conclude the negotiations ASAP because we don’t have a gap in our trade with the EU as far as enjoying preferential arrangements is concerned,” Mr. Gepty said.

“Right now, exporters that currently enjoy the preferential access will lose their competitive advantage,” he added.

Mr. Gepty said that the Philippines and the EU “made good progress in the first round,” describing the talks as “very positive and constructive.”

Meanwhile, he said that the second round of negotiations is set to happen in the Philippines on Feb. 11-13.

“In February… we will try to conclude as many provisions as possible. We will see if we can tackle market access,” he said.

“And then we will have the third round in June and the fourth round in October. So basically… we want to finish as soon as possible for so many reasons,” Mr. Gepty said.

Meanwhile, he said that the negotiations for the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE) could be concluded, at the latest, by the first week of November.

“This year is the 50th anniversary of our diplomatic relations with the UAE, so one of our deliverables is the conclusion of this FTA negotiation,” he said.

On plans of entering an FTA with Chile, he said that the joint study it is currently conducting is expected to be concluded this month.

“We will have a joint committee meeting in November, so I hope by that time, it will already be done,” he said. — Justine Irish D. Tabile

PCA ties up with Japanese firm to develop coconut-based sustainable aviation fuel

REUTERS

THE Philippine Coconut Authority (PCA) is exploring the production of sustainable aviation fuel (SAF) using local coconut oil as a key ingredient.

In a statement, the PCA announced the signing of a memorandum of understanding with Japan-based Manryu Co., Ltd. for the research and development phase of bringing SAF to market.

“The signing signifies a leap towards establishing the country as a key player in the global biofuel industry,” the PCA said.

The agency added that the partnership would optimize the use of local coconut oil in the production of biofuels.

“The partnership aims to leverage Manryu’s innovative proprietary Maeda Method for biodiesel and SAF manufacturing, which promises enhanced safety features and cost-efficient production,” the PCA said.

The Department of Energy has required all diesel fuel sold in the country to be a 3% blend of coco methyl ester (CME). The CME blend will further increase to 4% by Oct. 1, 2025 and to 5% a year later.

The PCA added that it will provide access to its research facilities and high-quality coconut oil, while Manryu will supply its technology and equipment in the production of SAF and biodiesel.

“Both organizations will jointly conduct research, experiments, and testing to refine the process and ensure it meets global standards for aviation fuel,” it said. — Adrian H. Halili

PEZA receives P123.72 billion in year-to-date investment pledges

Photo from facebook.com/PEZAPH

THE Philippine Economic Zone Authority (PEZA) said that it has so far obtained board approval for P123.72 billion worth of investment pledges in the year to date, down 6.1% from a year earlier, though it still expects to hit its P200-billion target for 2024.

“We are more than halfway to our target, thanks to the continued trust of investors in the Philippines,” PEZA Director General Tereso O. Panga in a statement on Wednesday.

“Through upcoming investment missions, we aim to exceed our target and further boost the country’s export performance and competitiveness under the President’s vision of Bagong Pilipinas,” he added.

The PEZA Board of Directors on Oct. 18 approved 19 new projects worth a combined P7.83 billion. This brought the total number of PEZA Board-approved projects to 198, up 17.2% from a year ago.

The 19 newly approved investments comprise eight manufacturing projects, eight information technology projects, two economic zone (ecozone) development projects, and one ecozone logistics services project.

These projects are due to rise in Pampanga, Laguna, Cavite, Iloilo, Taguig, Cebu, Muntinlupa, Makati, Batangas, Quezon City, and Tarlac.

“The aforementioned projects involve fabricated metal products, computer programming, commercial printing, electronic products, semiconductor devices, warehousing, transportation support activities, office support, and rubber and plastic products,” PEZA said.

Investment pledges in the year to date are expected to generate $3.07 billion in export revenue and 40,733 jobs.

Earlier this month, PEZA said it is hoping to generate 60,000 jobs this year.

Included in this month’s approvals is the P1.75-billion expansion of Light Industry & Science Park IV – Special Economic Zone in Batangas, which is expected to be completed by the end of 2026.

“Land development began in January 2024 and is expected to be completed by December 2026, creating 7 direct jobs during operations and 59 indirect jobs during land development,” PEZA said.

Another project approved in October is the pharmaceutical zone in San Miguel, Tarlac City.

Known as the Zen Industrial Pharma Ecozone, the P81.63-million project is expected to be completed by the third quarter of 2026, creating 34 jobs.

“PEZA will host (in Tarlac) the drug export manufacturing facility of Lloyd laboratories in partnership with an American pharma company,” it said.

“This project aims to elevate the Philippines’ pharmaceutical sector and bolster socio-economic development, positioning the country as a hub for pharmaceutical manufacturing and research,” it added. — Justine Irish D. Tabile

Angeles court dismisses bid to renew Clark-area landfill operating contract 

METRO CLARK WASTE MANAGEMENT FACEBOOK PAGE

THE Bases Conversation and Development Authority (BCDA) said on Wednesday that a Regional Trial Court (RTC) in Angeles City dismissed a bid by the former concession-holder to renew the operating contract of the 100-hectare Kalangitan sanitary landfill in Capas, Tarlac.

In a statement, the BCDA said RTC Branch 114 dismissed Metro Clark Waste Management Corp.’s (MCWM) bid to include an automatic renewal clause to the 25-year contract for landfill operation services.

Citing a 30-page decision, the BCDA said that Metro Clark’s complaint against Clark Development Corp. (CDC) and BCDA has been dismissed for “failure to state cause of action, prescription, and willful and deliberate forum shopping.”

“This decision validates the CDC and BCDA’s position that the contract between the parties is for 25 years or until its expiration on Oct. 5, 2024, and cannot be renewed or extended,” the BCDA said.

It said that the Angeles RTC ruled as forum-shopping the filing of an injunction with RTC Capas, and gave MCWM 10 days to explain why it should not be cited in direct contempt.

“As stated in the contract, CDC and Metro Clark agreed upon the proper court of Angeles City as the venue of action in case of litigation,” the BCDA added.

Following the decision, the BCDA said that it will continue working with the Department of Environment and Natural Resources, the Department of Interior and Local Government, and local government units to head off disruptions of the solid waste management services in the Clark area.

“Rest assured that the BCDA and CDC are committed to ensuring compliance with the law and protecting the interests of the government and the public,” the BCDA said. — Justine Irish D. Tabile

UK firm says disruptive methods needed to close PHL cybersecurity talent gap

REUTERS

NCC GROUP, a cybersecurity advisory company from the UK, said the Philippines will need to explore new ways of building up its talent base to confront the cybersecurity threat.

“Filling the talent gap, especially in the Philippines, will require disrupting traditional methods on how we go about building our talent pool that can help organizations prevent these increasingly sophisticated cyber threats,” Kevin Brown, NCC Group’s Global chief operating officer said in a statement issued on Oct. 22.

The firm is tapping local talent through university partnerships and expanding its Manila team.

It has onboarded more than 120 professionals since it opened its office in November and expects further growth before the year ends.

“Our Philippine team has been instrumental in helping our firm achieve our goal of demystifying cybersecurity and making it accessible to all,” he said.

Mr. Brown said during the company’s first year, he saw firsthand how these professionals were able to assist the firm in supporting the world’s largest organizations in developing and managing their cybersecurity strategies.

The NCC Group has also conducted talks and seminars at various universities in Metro Manila to demonstrate its commitment to addressing the lack of cybersecurity professionals.

Meanwhile, NCC also noted the country’s improving overall performance in cybersecurity.

The Philippines recorded a cybersecurity score of 93.49 points this year, from 77 points in 2020, according to the United Nations Global Cyber Security Index.

As a result, the country is now classified as Tier 2, indicating an advancing cybersecurity performance.

The company said this progress aligns with the adoption of the National Cyber Security Plan by the Department of Information and Communications Technology (DICT), which was approved earlier this year.

However, Mr. Brown also highlighted the need for policies to account for emerging technologies, such as artificial intelligence, especially since their effect and how these will reshape cybersecurity have yet to be established.

“As well-meaning as these policies can be, however, barriers to its effective implementation could pose a challenge for organizations around the world, as they are compelled to navigate through complex and at times overlapping regulations,” Mr. Brown added. — Aubrey Rose A. Inosante

Palay output officially estimated at 19.41 MMT in 2024, down 3.24%

NEDA

THE Department of Agriculture (DA) said on Wednesday that palay (unmilled rice) production will likely decline 3.24% in 2024, due to crop losses from tropical cyclones.

“With a forecast loss of 358,000 metric tons, based on historical damage and actual risks this quarter, total annual palay production is expected to hit 19.41 million metric tons (MMT),” Agriculture Undersecretary for Rice Industry Development Christopher V. Morales said in a statement.

He added that based on the palay projections, the expected output is equivalent to about 12.69 MMT of milled rice.

In 2023, actual palay output was 20.06 MMT. The new 2024 forecast also represents a downgrade from the 20.1 MMT estimate the DA issued in August.

If the forecast is borne out, it would be the lowest production level since 2020, during which grain output totaled 19.29 MMT.

According to the Philippine Statistics Authority (PSA), palay production for the third quarter is projected to decline 11.9% to 3.35 MMT, against 3.8 MMT in actual production a year earlier.

The DA said better seed, farm equipment and other support provided through the Rice Competitiveness Enhancement Fund and National Rice Program have helped mitigate production setbacks.

The government weather service, known as PAGASA (Philippine Atmospheric, Geophysical and Astronomical Services Administration), estimated a 71% chance of La Niña occurring between September and November, likely persisting until the first quarter of 2025.

The La Niña phenomenon heightens the likelihood of tropical cyclones, low-pressure areas, and the Intertropical Convergence Zone, and intensifies the Southwest Monsoon.

So far, PAGASA has reported about 11 tropical cyclones entering the Philippine Area of Responsibility.

Meanwhile, the DA said that it is aiming for a year-end national rice inventory of 3.83 MMT, despite the projected drop in rice production. This is equivalent to about 100 days’ demand.

“This projection incorporates updated rice stock data, actual import arrivals, and historical trends, ensuring the country’s rice needs are met despite the production drop,” Mr. Morales added.

The updated rice inventory forecast is higher than the 3.64 MMT estimated by the department last May, equivalent to about 95 days’ demand.

The national rice inventory rose 6.8% year on year to 1.66 MMT in Sept., the PSA reported.

“The recent cut in tariff rates further incentivized imports, allowing for greater access to global rice markets and mitigating potential shortages,” he added.

As of Oct. 14, rice imports totaled 3.57 MMT, according to the Bureau of Plant Industry.

In June, President Ferdinand R. Marcos, Jr. signed Executive Order No. 62, which reduced tariffs on imported rice to 15% from 35% until 2028, billing it as an inflation-containment measure. — Adrian H. Halili

IPOPHL bats for Greenhills removal from USTR watchlist

SHOPPERS are seen at the Greenhills shopping center in San Juan City. — PHILIPPINE STAR/MIGUEL DE GUZMAN

THE Intellectual Property Office of the Philippines (IPOPHL) said its reply to the US Trade Representative (USTR) included a request to remove the Greenhills Shopping Center from its notorious markets list.  On the sidelines of the 2nd Philippine International Copyright Summit, IPOPHL Director General Rowel S. Barba said the IP regulator detailed its efforts to clear out Greenhills stores selling illicit goods.

“We just submitted our reply to the USTR as they are currently reviewing the Notorious Markets List,” he said on Monday.

“We told the USTR that we have been regularly working with Greenhills Shopping Center (GSC) management and even the local government unit,” he added.

He said cited improvements at the shopping center, including the conversion of a portion of GSC to host stores exclusively selling local products.

“The management is also implementing a three-strike rule, under which a seller will be denied space after three complaints,” he added.

He said that the USTR is expected to release the new Notorious Markets list by early next year.

Separately, IPOPHL said it signed a memorandum of understanding with the Commission on Elections (Comelec) to protect the intellectual property (IP) rights of artists whose works may be used in campaign material for next year’s elections.

“This agreement marks an important first step in promoting respect for IP rights during elections as it establishes the framework for future joint efforts,” said Mr. Barba.

“It will pave the way for initiatives that ensure that candidates are held accountable for the materials they use, which will foster a culture of respect for IP in our electoral system,” he added.

Under the agreement, IPOPHL and Comelec agreed to ensure compliance with the IP Code of 1997.

Comelec Chairman George Erwin M. Garcia said that although an IP violation is not an election offense that could trigger disqualification, the election regulator is committed to holding individuals accountable for all laws violated during the campaign period.

“They haven’t even been elected yet, and they’re already stealing, and it’s no less than intellectual property at that. So how much more when they do get elected? That’s what we should emphasize to our fellow citizens when it comes to voting,” Mr. Garcia said.

“Our creators should be rewarded, not robbed, and this is the commitment of Comelec,” he added.

The campaign period for national elections runs between Feb. 11 and May 10, while the campaign period for local elections is March 28-May 10.

“For this election season, candidates and campaign teams must understand that when they use songs, images, or videos without permission, they violate the IP rights of artists and authors,” Mr. Barba said. — Justine Irish D. Tabile

PHL to tap ODA, private sector support for security reforms

REUTERS

THE government is soliciting foreign and private sector assistance to support its peace and security reforms, Budget Secretary Amenah F. Pangandaman said.

“A couple of things we’d like to (promote) first is financing from international development and multilateral institutions. Studies show that most of the projects that we get from our development partners don’t (address issues concerning) women, peace, and security in their portfolios,” Ms. Pangandaman said in a briefing  on Wednesday. 

The government is also seeking more support from the private sector to fund reforms that will benefit women, peace and security, she added.

“More than anything else, we need the cooperation of the private sector and of the international community to help us fund these projects,” she said.

Ms. Pangandaman will make the push for financing support from foreign institutions at the International Conference on Women, Peace and Security on Oct. 28-30. 

The conference will help the Philippines investigate other countries’ best practices and reassess the components of the National Action Plan dealing with women, peace, and security reforms.

The Philippines was the first country to adopt a National Action Plan on Women, Peace and Security, which seeks to “ensure the protection of women’s human rights and prevention of violation of these rights in armed conflict and post-conflict situations.”

It also aims to strengthen women’s participation in peace building and conflict prevention.

Meanwhile, Ms. Pangandaman said the Budget department is working on the speedy release of the compensation for the victims of the 2017 Marawi siege.

She said the distribution of the compensation has been “a bit slow,” citing the large number of claimants.

“We’re still finalizing the total amount of compensation that we need to give,” Ms. Pangandaman said.

In September, the Budget department approved the release of P1 billion to cover mainly structural damage and death claims from the siege.

“The money is still there. We have been meeting with them quite very early so we can expedite (the release of the compensation),” Ms. Pangandaman said.

She added that the budget for the province of Sulu will still be included in the Bagsamoro Autonomous Region in Muslim Mindanao’s (BARMM) proposed budget for next year.

The Supreme Court (SC) recently ruled that Sulu is not part of the BARMM.

“We’re still waiting for the finality of the Supreme Court decision. It’s executory but it is not yet final,” Ms. Pangandaman said.

In a Sept. 9 decision, the SC ruled that Sulu rejected the Bangsamoro Organic Law  in the 2019 plebiscite. — Beatriz Marie D. Cruz

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