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Nonperforming loans of thrift banks climb at end-Oct.

BAD DEBTS held by thrift banks picked up by nearly a tenth as of October, although slower than the growth in total loans extended during the period, latest central bank data showed.

Nonperforming loans (NPLs) incurred by thrift banks reached P41.159 billion as of the month, 9.3% higher than the P37.67 billion tallied during the comparable period in 2016, according to the Bangko Sentral ng Pilipinas (BSP).

This amount inched higher from the P40.32 billion in soured loans tallied at end-September.

NPLs refer to debts left unpaid at least 30 days past due date, which are considered as risky assets as these have high risk of default.

The higher NPL stash came on the back of an 11% increase in total loans granted by the lenders, which brought the running tally to P848.746 billion from P764.452 billion a year ago.

Thrift banks are focused on lending to consumers and small-scale firms, which sets them apart from the operations of the bigger universal and commercial banks who cater mostly to corporate clients. This explains the higher NPL ratio compared to the 1.46% held by big banks, as the retail segment is deemed more prone to defaults.

Meanwhile, the value of non-performing assets declined to P21.578 billion compared to P22.537 billion worth of idle properties a year ago. These refer to items of value seized by thrift units from non-paying borrowers which have been posted as collateral, allowing lenders to recover losses from credit defaults.

With the bigger NPL stash, banks chose to raise the buffers they set aside for possible credit losses to P28.287 billion, 5.3% higher than the P26.873 billion as of October 2016. However, the amount is still not enough to cover the entire P41.159 billion in soured debts, as it only accounts for 68.7% of the total.

Despite this, thrift banks saw strong growth in its asset base and bottom line during the period. Deposits grew by 11.6% to hit P941.451 billion, slightly faster than the expansion in loan books. Of the amount, over 90% have been deployed to lending.

Thrift banks also saw bigger profits this year with P12.271 billion in cumulative net income from January to September, jumping by 17.2% from P10.47 billion booked during the same nine-month period last year.

As of June, there are 57 thrift lenders operating in the Philippines.

The BSP monitors loan and asset quality of banks and financial firms in order to maintain the soundness of the local financial system.

International credit raters have cited the banking system as a pillar of strength for the Philippine economy, even as some raised concerns over rapid credit growth seen in recent months. — Melissa Luz T. Lopez

Golden Haven buys Bria Homes

THE VILLAR GROUP is reorganizing its property business, disclosing on Wednesday that Golden Haven, Inc. will take over the operations of Bria Homes, Inc.

In a disclosure to the stock exchange on Wednesday, Golden Haven said its board of directors approved the acquisition of Bria Homes from Cambridge Group, Inc., a Villar company.

The transaction was priced at P3.01 billion, comprising 9.99 million shares of Bria Homes at P301.42 apiece. This was based on the adjusted book value of Bria Homes as of end November.

Golden Haven and Cambridge Group signed the deed of absolute sale of shares for the transaction on Wednesday.

At the same time, the company’s board authorized the issuance of 150 million common shares to Cambridge group out of the unissued capital stock of Golden Haven by way of private placement. The shares were priced at P20.09 apiece for an aggregate subscription price of P3.01 billion. 

Golden Haven targets to submit the listing application to the Philippine Stock Exchange by Jan. 10, 2018, with listing of the common shares on the bourse by March 30, 2018.

The company will then increase its public float to 14.83% from the current 11.38%.

The funds raised from the private placement will be used to finance Golden Haven’s acquisition of Bria Homes.

Bria Homes’ core business is in the development of mass housing projects across the country. According to its website, it currently has a total of 27 developments in areas such as Bataan, Pampanga, Bulacan, Cavite, Laguna, Camarines Sur, Negros Oriental, Cagayan de Oro, and Misamis Oriental.

“The company believes the Bria acquisition will diversify its real estate business by entering into the mass housing market, accelerate growth and enhance profitability through the creation of additional revenue streams independent of its current business, allow the company to maximize the value of its land bank by providing other avenues for its utilization,” Golden Haven said.

The company added this acquisition will also build shareholder value.

Golden Haven last September changed its corporate name, dropping the words “memorial park” in order to allow the company to expand its business outside the death care industry. The company then said it will build efforts to enter other areas of the property sector in the future.

Golden Haven booked a net income attributable to the parent of P164 million in the first nine months of 2017, 21% higher year on year, as it recorded a 19% increase in revenues to P724 million during the period.

Shares in Golden Haven jumped 9.53% or P1.74 to P20 each at the stock exchange on Wednesday. — Arra B. Francia

Peso climbs to six-month high on positioning before yearend

THE PESO soared against the dollar on Wednesday, hitting its strongest level in six months as it briefly breached the P49 level intraday, as it strengthened in the offshore market.

The local currency finished at P50.04 against the greenback yesterday, gaining 10 centavos from its P50.14-per-dollar close seen on Friday.

Wednesday’s finish was also the peso’s best level since it ended at P49.91-to-the-dollar last June 19.

The peso traded stronger the whole day after it opened the session at P50.03 versus the dollar, while its intraday high was seen at P49.96. Its worst showing for the day, meanwhile, was at P50.05 to the greenback.

Dollars traded declined to $523.1 million on Wednesday from the $740.8 million that changed hands in the previous session last week.

“The peso appreciated as the offshore dollar-peso market has been trading stronger,” a trader said over the phone.

Another trader shared the same sentiment, adding that the peso’s ascent is in line with the movement of other Asian currencies.

“The Asian currencies are moving higher as the peso is leading gains, where the offshore market has been aggressive in selling dollar-peso lately,” another trader said.

Asked for the main driver of the boost in offshore trading, the second trader noted reductions in long dollar positions following the weakness of the local unit this year.

“I think it’s an adjustment. For this year, we’ve seen the weakness of the peso was really significant. And towards the yearend, we’re seeing positions taken out. [I guess, they’re winding up their] position as the year ends,” the second trader said.

Meanwhile, another trader attributed the stronger peso to the lack of fresh leads in the US.

For today, two traders said the peso might play within P49.90 to P50.15 against the dollar, while the third trader gave a slightly wider range of P49.90 to P50.20.

“The local currency is likely to follow its appreciating trend as traders lock in profits before the year ends,” the third trader noted, adding that the December US consumer confidence data released early today will be monitored.

Most Asian currencies edged higher against the US dollar on Wednesday, with the Philippines leading the gains after posting a narrower budget deficit in November — the latest addition to a run of good economic news.

The US dollar was flat, with the dollar index which measure the greenback against six major rivals, down 0.07% at 0523 GMT.

Globally, sentiment was buoyed by oil prices rising to 2-1/2 year highs.

The South Korean won was up 0.08%, hitting its highest since April 2015.

The Taiwan dollar was unchanged by remarks from central bank Vice-Governor Yang Chin-long who said on Wednesday that the Taiwan dollar’s strengthening this year mostly reflects the weakening trend of the US dollar.

The Singapore dollar was up 0.2%, its highest since Sept. 20.

But China’s yuan extended its losses for a second session on a softer fixing and rising corporate dollar demand, traders said. — Karl Angelo N. Vidal with Reuters

Faeldon appointed to OCD

CONTROVERSIAL former customs chief Nicanor E. Faeldon has been appointed by President Rodrigo R. Duterte as deputy administrator III of the Office of Civil Defense (OCD), as shown by his appointment letter dated Dec. 22.

Mr. Faeldon has been accused, particularly by Senator Panfilo M. Lacson, of raking in bribes, among these a P100-million “welcome gift” the commissioner allegedly received upon assuming office at the Bureau of Customs in 2016.

Mr. Lacson when sought for comment said in a text message to the Senate media: “It…says a lot about a person’s judgment of character and the character of the person giving his full trust on another.”

He added: “To say that Faeldon has the goods on the President or any of his relatives in regard to the payola system involving the Davao group may be speculative at this point.”

Mr. Lacson also said: “However, rightly or wrongly, one cannot help but think that the President’s open display of his unequivocal support and trust on Faeldon has something to do with that ugly issue.”

“The Senate cannot dictate on the President who to appoint or not. Faeldon has not been convicted of any crime yet and certainly he is not barred from assuming an appointive or even an elective position. Certainly, the President has the authority to exercise his prerogative to appoint him. However, the Senate cannot also be dictated upon to release Faeldon from custody. So, while he can assume his new post at the OCD, he may have to function from the Senate detention facility via remote control, unless his contempt citation is lifted by the Senate acting as a collegial body.”

For his part, opposition Senator Antonio F. Trillanes IV said “(Mr.) Faeldon knows the dark secrets of the Duterte family, that’s why, even if he is grossly incompetent, he remains a sacred cow.”

Senator Sherwin T. Gatchalian when sought for comment said Mr. Faeldon’s appointment is Mr. Duterte’s “prerogative. However, the President should understand that this person is absolutely ineffective in the Bureau of Customs and was primarily responsible for the lack of systems in deterring illegal drugs from coming through the ports of our own customs.” — Arjay L. Balinbin

MRC Allied to partner with cooperatives

LISTED energy company MRC Allied, Inc. is planning to partner with electric cooperatives in off-grid areas to build power generation plants using a hybrid of solar energy and other technologies, its top official said.

“We want to do at least one next year,” said Gladys N. Nalda, MRC Allied president and chief executive officer.

She said the venture would be of “lesser scale” than the other projects the company is looking into, including a liquefied natural gas facility and big solar farms. The company has recently signed a number of memorandum of understanding with Chinese companies for these bigger ventures.

Ms. Nalda said there are areas under the National Power Corp.’s small power utility group which are planning “embedded” generation projects or those that directly supply the franchise area on which they are located.

“We are exploring that. So we’re looking at going into those business models,” she said.

She said the initial off-grid power development project would be small — at a capacity of less than 1-megawatt (MW), and the mode of ownership could either be a joint venture or partnership with the electric cooperatives.

Ms. Nalda said the cooperatives’ participation could be limited to the land on which the power plant would be built.

“I just want to know how it will work,” she said, adding that if the venture turns out to be successful it may be replicated in other areas.

MRC Allied, a company incorporated in the 1990s, was known previously as a property firm that diversified into mining. It announced its diversification into energy development early this year, eventually making this as its main business purpose.

Ms. Nalda previously said for this year, MRC Allied has 160 MW of solar capacity in the pipeline — 100 MW in Clark Green City, Pampanga and 60 MW in Naga City, Cebu.

In October, MRC Allied bought a 15% stake in a company that partly owns a 50-MW solar project in Brgy. Castilla in Palo, Leyte province.   

The move is part of MRC Allied’s “aggressive effort” to develop at least 1,000 MW of clean and renewable power in the next five years. — Victor V. Saulon

Alvarez, Pimentel move up, Sereno dips in SWS survey

THE two leaders of Congress saw an increase in their ratings, while that of the Chief Justice dipped, according to the Social Weather Stations’ fourth quarter survey on the country’s top officials.

The Fourth Quarter 2017 Social Weather Survey, fielded on December 8-16, found 63% satisfied and 21% dissatisfied with the performance of Vice-President Ma. Leonor G. Robredo, 62% satisfied and 13% dissatisfied with Senate President Aquilino Martin L. Pimentel III, 38% satisfied and 23% dissatisfied with Speaker Pantaleon D. Alvarez, and 34% satisfied and 28% dissatisfied with Chief Justice Ma. Lourdes P.A. Sereno.

Those figures led to net satisfaction ratings (% satisfied minus % dissatisfied) of a good +42 for Ms. Robredo, a good +49 for Mr. Pimentel, a moderate +14 for Mr. Alvarez, and a neutral +6 for Ms. Sereno.

(SWS terminology for Net Satisfaction Ratings: +70 and above, “excellent”; +50 to +69, “very good”; +30 to +49, “good”; +10 to +29, “moderate”, +9 to -9, “neutral”; -10 to -29, “poor”; -30 to -49, “bad”; -50 to -69, “very bad”; -70 and below, “execrable.”)

Ms. Robredo’s latest net satisfaction rating was one point up from +41 (62% satisfied, 21% dissatisfied) in September, which SWS said was due to a 16-point increase to +47 in Mindanao, offset by a steady score of +42 in Balance Luzon, and decreases of 8 points to +15 in Metro Manila and 5 points to +55 in the Visayas .

Upgrades in Ms. Robredo’s net satisfaction rating occurred among class ABCs (up by one grade from moderate +24 to good +32), among those 55 years old and above (up by one grade from good +40 to very good +52), and among college graduates (up by one grade from moderate +17 to very good +30).

On the other hand, downgrades in her net satisfaction happened among class Es (down by one grade from very good +50 to good +45), among 18-24 year olds (down by one grade from good +36 to moderate +29), and among elementary school graduates (down by one grade from very good +55 to good +45).

Mr. Pimentel’s net satisfaction stayed good, at a new personal record-high of +49, up 3 points from his previous +46 (60% satisfied, 14% dissatisfied) in September, SWS said.

This 3-point rise in net satisfaction for Mr. Pimentel was due to increases of 16 points in Mindanao, 5 points in Metro Manila, and 5 points in the Visayas, combined with a 6-point decrease in Balance Luzon.

His net satisfaction rating rose by one grade from good to very good in Mindanao at +61 (correctly rounded), up by 16 points; and stayed very good in the Visayas at +56 (up by 5 points), in Metro Manila at +49 (up by 5 points), and in Balance Luzon at +39 (correctly rounded) although down by 6 points.

Upgrades in Mr. Pimentel’s net satisfaction rating happened in urban areas (up by one grade from good +48 to very good +52), among class Es (up by one grade from good +44 to very good +56), among men (up by one grade from good +49 to very good +50), and among those 55 years old and above (up by one grade from good +47 to very good +52). It stayed good but had a double-digit gain among non-elementary school graduates, at +46 in December, up by 11 points from +36 in September.

Mr. Alvarez’s net satisfaction rose by one grade from neutral to moderate at +14, up by 6 points from his personal record low of +8 (34% satisfied, 26% dissatisfied) in September , after an 8-point decline from the moderate +16 in June.

The 6-point rise in Mr. Alvarez’s overall net satisfaction rating was due to increases of 16 points in Mindanao (one grade from moderate to good at +26), 9 points in the Visayas (from +10, correctly rounded, in September), 6 points in Metro Manila (from -1, correctly rounded, in September), and 1 point in Balance Luzon (hardly moving from +8 in September).

Upgrades in Mr. Alvarez’s net satisfaction happened among class Ds (up by one grade from neutral +7 to moderate +16), among women (up by one grade from neutral +6 to moderate +15), among 18-24 year olds (up by one grade from neutral +9 to moderate +16), among 45-54 year olds (up by one grade from neutral +4 to moderate +17), among those 55 years old and above (up by one grade from neutral +9 to moderate +11), among elementary school graduates (up by one grade from neutral +7 to moderate +14), and among high school graduates (up by one grade from neutral +4 to moderate +16).

Downgrades in his net satisfaction occurred among class ABCs (down by one grade from moderate +24 to neutral -1) and among non-elementary school graduates (down by one grade from moderate +14 to neutral +9).

Ms. Sereno’s net satisfaction rating stayed neutral at +6 in December, although down by 3 points from +9 (35% satisfied, 26% dissatisfied) in September.

“This is her lowest net satisfaction rating score since the neutral -1 in December 2015,” SWS said, adding:

“The 3-point fall in Chief Justice Sereno’s overall net satisfaction rating was a result of the declines of 7 points in Metro Manila, 4 points in Mindanao, and 2 points in the Visayas, combined with a steady score in Balance Luzon.”

Ms. Sereno’s net satisfaction stayed moderate in the Visayas at +12 in December, although down by 2 points from +14 in September.

It stayed neutral in Balance Luzon, unchanged at +9; in Mindanao at +5 in December (although down by 4 points from +9 in September), and in Metro Manila at -7 in December, down by 7 points from net zero in September.

Upgrades in Ms. Sereno’s net satisfaction can be found among 18-24 year olds (up by one grade from moderate +10 to good +30).

Downgrades happened in rural areas (down by one grade from moderate +12 to neutral +9), among class Ds (down by one grade from moderate +10 to neutral +7), among women (down by one grade from moderate +13 to neutral +6), among 35-44 year olds (down by one grade from moderate +10 to neutral -2), among non-elementary school graduates (down by one grade from moderate +11 to neutral +7), and among elementary school graduates (down by one grade from moderate +12 to neutral +4).

The noncommissioned survey was conducted using face-to-face interviews of 1,200 adults (18 years old and above) nationwide: 300 each in Metro Manila, Balance Luzon, Visayas, and Mindanao (sampling error margins of ±3% for national percentages, and ±6% each for Metro Manila, Balance Luzon, Visayas, and Mindanao).

DoE: Power restoration in areas hit by Vinta under way

By Victor V. Saulon
Sub-Editor

NINE ELECTRIC cooperatives in Mindanao have been “severely” hit by tropical storm Vinta that resulted in power interruption in some towns in their franchise areas, the Department of Energy (DoE) said on Wednesday as it mobilized power restoration in the affected areas.

“Our personnel and staff will continue working during the Christmas break to rehabilitate affected energy facilities, and to coordinate, monitor and report the developments for easy and fast mobilization of assets in places that need assistance,” said Energy Secretary Alfonso G. Cusi in a statement.

The DoE said it was mobilizing all its resources to restore energy after typhoon Vinta hit southern Philippines within days after storm Urduja battered provinces in the Visayas.

The DoE listed the following affected electric cooperatives, as also reported by the National Electrification Administration:

• Lanao del Sur Electric Cooperative — portions of Marawi City, Piagapo, Madalum, Madamba, Ganassi, Pualas, Pagayawan, and Tuburan;

• Surigao del Sur II Electric Cooperative — San Miguel, Cagwait, Bayabas, Marigatag and Portions of Tago;

• Davao del Norte — portions of Asuncion and New Corella;

• Lanao del Norte Electric Cooperative — portions of Baloi, Matungao, Tubod, and Salvador, Munai, and Tangkal;

• Zamboanga City Electric Cooperative — total blackout;

• Zamboanga del Sur II Electric Cooperative — Sirawi, Siocon, Baliguian, and Portions of Titay;

• Agusan del Sur Electric Cooperative — portions of Veruela, Bunawan, Loreto, San Luis, La Paz, Talacogon, Sibagat, San Francisco, and Rosario;

• Misamis Oriental-I Rural Electric Service Cooperative — Talakag and Portions of Cagayan de Oro City but expected completion by Wednesday;

• Palawan Electric Cooperative — Brooke’s Point, Narra and Aborlan.

The DoE also said private distribution utilities, Davao Light and Power Co., Cagayan Electric Power & Light Co., Inc. and Iligan Light and Power, Inc. reported that some households are still without power because of the dampened outlets and wiring caused by the rain and the flood waters.

“Flooding, landslides and downed infrastructures like bridges generally make the restoration of the affected power facilities more difficult,” the DoE said.

The Energy department said it was targeting the completion of power restoration efforts within the week.

State-led National Power Corp. said there was no damage on all its power plants and lines in areas affected by Vinta. Privately owned National Grid Corporation of the Philippines earlier said all compromised transmission facilities had been restored at 2:10 p.m. on Dec. 24.

The DoE issued a reminder to oil industry participants to observe the price freeze in areas placed under a state of calamity. It said its oil industry management bureau as well as its field office, along with the Department of Trade and Industry, are monitoring the prices of household liquefied petroleum gas and kerosene in Biliran and Davao.

DA: Damage on rice, corn crops at P177M

THE Department of Agriculture (DA) reported that a total of P177 million worth of rice and corn crops were damaged by the tropical storm Vinta.

According to a report released Wednesday, Vinta affected 18,517 hectares of agricultural areas in Regions IX (Zamboanga Peninsula), XI (Davao Region), and XII (Soccsksargen) with a quoted production volume of 4,735 metric tons lost, majority coming from corn in Region IX.

“It is expected that additional damages and losses will be reported on other commodities as the concerned regional offices are conducting monitoring, assessment, and field validation,” the report said.

Corn took the largest loss share at P90.62 million, covering 3,392 hectares and weighing 4,079 metric tons. This is equivalent to 0.76% of the total standing crop quoted to be at 448,394 hectares.

In Region IX, the cost of corn lost reached P79.99 million or 88.28% of the total production loss.

Corn production destroyed in Compostela Valley that were in the reproductive to maturity stages reached P6.09 million, which accounted for 6.72% of total production loss.

Crops at their harvestable stage in North Cotabato were only quoted to have lost P4.54 million or 5% of total production loss.

Total production loss for rice reached P87.18 million, covering 15,125 hectares and 655 metric tons. This covered 4.8% of the total standing crop for rice at 314,947 hectares. The DA explained that this is because the crops were only from the stages of newly planted to vegetative.

Region IX also took the biggest hit in rice production loss, accounting for 65.58% or P57.17 million of the overall loss. Region XI followed, accounting for 22.02% or P19.20 million worth of crops lost in the Compostela Valley and Davao Oriental.

Rice crops at their newly planted, vegetative to reproductive stages that were affected in North Cotabato reached P10.81 million or 12.4% of the total loss. — Anna Gabriela A. Mogato

Palace turns over 500-plus shelters to displaced in Marawi

By Arjay L. Balinbin

PRESIDENTIAL Spokesperson Herminio Harry L. Roque, Jr. announced on Wednesday, Dec. 27, that the government was set to turn over on that day over 500 temporary shelters to displaced families in Marawi City.

“We targeted to transfer 500 units but instead of just 500, we are actually transferring 800,” Mr. Roque said in a televised press briefing in Marawi City before the scheduled turnover ceremony of the temporary shelters in Barangay Sagonsongan.

According to Mr. Roque, “this is only the first of the temporary housing units” that the government “will be transferring to the people of Marawi” after over two months since President Rodrigo R. Duterte declared the liberation of the city from the ISIS-inspired Maute group.

“Kumpleto po ang mga pabahay na ito sa patubig at kuryente (These housing units come with electricity and water),” Mr. Roque also said.

Also present at the press briefing, Housing and Urban Development Coordinating Council (HUDCC) Chairperson Eduardo D. del Rosario said 250 of the said temporary shelters “will be occupied not later than Dec. 31” and “another 250 will be occupied not later than Jan. 7.”

Apart from the housing units, Trade Secretary Ramon M. Lopez said his department will also be “handing out starter kit certificates to beneficiaries that will include, among others, carpentry and electronic equipment, sewing machines, garment-making tools, mini rice mills, and hauling vehicles (‘bonggo’ drop side truck).”

“Mayroon ding (there is also a) financing (program) para sa (for the) internally displaced persons,” Mr. Lopez added, noting the financial access offered to entrepreneurs through Small Business Corporation’s 0% interest scheme, a program specifically designed for the development of Marawi and the commitment made by construction firms or suppliers to ensure price stability of materials to be used for the rebuilding of the city.

Meanwhile, according to Marawi City Mayor Majul Usman Gandamra, there are already over “90,000 individuals” who have returned to the city.

Mr. Roque assured that the turnover of the temporary shelters marks the beginning of Marawi City’s recovery, saying “Ngayong araw, Dec. 27, 2017, nagsimula nang bumangon ang Marawi dahil ito ang mga kauna-unahang housing shelters na ibibigay sa mga naging biktima ng digmaan dito sa Marawi.”

(Today, Dec. 27, 2017, Marawi City has begun to recover because this is the first batch of the temporary shelters that will be turned over to the victims of war here in Marawi.)

Also yesterday, the Autonomous Region for Muslim Mindanao (ARMM) government gathered stakeholders from the Bangsamoro community for a post-Marawi conflict peace dialogue to draft policies aimed at helping restore the war-torn city.

Around 80 participants mostly from the youth sector took part in the dialogue.

ARMM Vice-Governor Haroun Alrashid A. Lucma said in a statement: “(T)his is a very serious situation that they (the residents of Marawi) have, (and) terrorism is a phenomenon that is very destructive to humans, regardless of what religion we carry.”

Executive Director Diosita T. Andot of the Office of the Presidential Adviser on the Peace Process for her part said: “Marawi City is not just the beautiful location by the lake that we remember. The city is its people, its culture and beliefs. (I)t is made of families and clans and individuals who had been hurt not just because they lost their belongings and loved ones but because their relations are torn apart, forced to live in places that are not their natural and comfortable habitat, and the future remains bleak to them.” — with Albert F. Arcilla

Duterte assures prompt relief for storm-hit Lanao del Norte

By Arjay L. Balinbin

PRESIDENT Rodrigo R. Duterte assured Lanao del Norte officials on Wednesday, Dec. 27, that the government will fast-track the recovery of the province from the devastation caused by typhoon Vinta.

“I can assure you na (that) we will fast-track everything. And I said (that) because of the huge allotment given to Department of (Agriculture),” Mr. Duterte said at the National Disaster Risk Reduction and Management Council (NDRRMC) briefing held in Tubod, Lanao del Norte.

“The rule in crisis management is to return as soon as possible to normalcy. That is really the objective. As soon as possible we have to go back to normalcy…Then we continue with the retrieval. I suppose by this time there are still missing persons. I hope they can be found,” Mr. Duterte added.

The President also noted that the Department of Agriculture (DA) has enough budget for the recovery of the agriculture industry in the province.

“I’m sure we still have some money to spare and supplies to share with you….We will have a meeting. I suppose right after the New Year. Wala nang panahon ngayon (We don’t have time left this December) but the money, I said, is already appropriated. It’s in the departments concerned and I will just order them to come here and do their thing, in whatever aspect they are supposed to deal with,” Mr. Duterte said.

Mayor Casan Maquiling of Munai, Lanao del Norte, asked Mr. Duterte at the briefing if the Department of Public Works and Highways (DPWH) could build a temporary bridge in his town so they could transport relief goods to far-flung barangays. Mr. Duterte answered that the government can do it in “five days.”

“He is asking for 10 days, I’m giving him five….We can help. We can ask for the equipment of the Army wherever they are. The nearest can help contribute to the equipment that you will need,” Mr. Duterte said.

“Magtulungan na lang tayo (Let’s help each other). We will provide the equipment. I hope they are nearby so that they can be transported here, so they can come here and do the job immediately,” he added.

The President said he will ask DPWH Secretary Mark A. Villar “to coordinate.”

As for the fast distribution of relief goods and medicines, the President said he will task the Philippine Air Force (PAF) to do the job.

“Air Force… If it is a matter of medicine and food to avoid famine,” Mr. Duterte said.

“I’m sure the Air Force will only be too glad to (help). Pareho naman tayong lahat eh (We are all the same anyway). We are workers in the government and our job is exactly what they expect of us to do. That’s why there’s no need for you to thank us…We are all workers of the government. That’s the long and short of it,” Mr. Duterte added.

SC sought for TRO on martial law in Mindanao

By Minde Nyl R. Dela Cruz

OPPOSITION lawmakers petitioned the Supreme Court on Wednesday, Dec. 27, for a temporary restraining order (TRO) or a writ of preliminary injunction against the re-extension of martial law in Mindanao as recently approved by Congress.

In the petition filed by Albay Rep. Edcel C. Lagman, Akbayan party-list Rep. Tomasito S. Villarin, Caloocan Rep. Edgar R. Erice, Ifugao Rep. Teddy B. Baguilat Jr., Magdalo party-list Rep. Gary C. Alejano, and Capiz Rep. Emmanuel A. Billones, they argued that Congress moved to extend the martial law for a year “by relying on the mere say-so of the military and police authorities on the purported ’continuing rebellion’ by remnants of terrorist groups in Mindanao.”

The lawmakers added that the extension “defies the Constitution’s unmistakable mandate of a limited duration of the declaration of martial law and its extension.”

“Verily, the approval of the extension of martial law and the suspension of the writ of habeas corpus in Mindanao utterly lacks sufficient factual basis because there is no actual rebellion in Mindanao and the re-extension is extremely long even as the approval was made with undue haste and unscrupulous imprudence,” the petition further stated.

They said the continued enforcement of martial law in Mindanao “emboldens government forces to indiscriminately attack and kill perceived enemies of the State and conduct warrantless arrests, searches and seizures even as the civilian courts are functioning.”

The petitioners also asked the high tribunal to restrain the disbursement of funds for the implementation of the martial law extension.

With a vote of 240-27, Congress in a joint session on Dec. 13 approved the extension of martial law from Jan. 1 to Dec. 31, 2018, as sought by President Rodrigo R. Duterte, who cited the continued presence of rebellion and terrorism in Mindanao despite the end of the Marawi clash last October.

Named respondents in the petition are Senate President Aquilino Martin L. Pimentel III, House Speaker Pantaleon D. Alvarez, Executive Secretary Salvador C. Medialdea, Defense Secretary Delfin N. Lorenzana, Budget Secretary Benjamin E. Diokno, and Armed Forces Chief of Staff General Rey Leonardo Guerrero.

Smaller contractors eyed for gov’t infrastructure projects

THE Department of Public Works and Highways will seek to increase the participation of smaller contractors in the government’s big-ticket infrastructure projects next year, possibly by setting aside quotas.

Department of Trade and Industry (DTI) Undersecretary for Competitiveness and Ease of Doing Business Group Ruth B. Castelo said that the program will identify the pathways to increase the role of domestic contractors in the wake of President Rodrigo R. Duterte’s directive to involve them in infrastructure projects.

Trade Secretary Ramon M. Lopez reiterated that DTI is open to the  liberalization of the equity requirement for contractors applying for a category of license eligible for the infrastructure program. The current floor for equity is P1 billion.

“Many [contractors] are saying that there should be a liberalization… [lowering of the equity requirement will mean] that there will be more players,” he added.

“In effect there will be a reserve [set aside] for local contractors — those who have an equity of below P1 billion… But for bigger projects, we’re open to foreign [companies].”

Ms. Castelo said the infrastructure program has the potential to stretch the resources of the construction industry, raising the possibility that small and medium-sized companies could play a part.

“The bigger companies will be able to give opportunities to our smaller contractors for them to develop in terms of their expertise, their technology [and] manpower,” she told BusinessWorld in an earlier interview. — Anna Gabriela A. Mogato

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