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June’s FDI surge fails to lift 1st half flows

By Melissa Luz T. Lopez
Senior Reporter

NET foreign direct investment (FDI) flows to the Philippines nearly tripled in June as firms abroad reinvested earnings and lent more to their units here, but still failed to lift last semester’s tally, according to data the Bangko Sentral ng Pilipinas (BSP) released yesterday.

Net FDI inflows surged to $674 million that month from the downward-revised $568 million recorded in May and from the $238 million that entered the country in June last year.

In a statement, BSP said the strong FDI figures demonstrated investors’ “continued bullish outlook on the Philippine economy.”

FDIs are a key source of capital for the local economy that generate more jobs for Filipinos as these fuel business expansion.

June saw investors reacting positively to the approval at the end of May of the first tranche of the government’s tax reform package at the House of Representatives, bringing the proposal closer to the 2018 implementation targeted by the Department of Finance.

Foreign investors poured $674 million into debt instruments of their subsidiaries and affiliates in June, nearly four times the year-ago $182 million.

Reinvested earnings grew 16.5% to $72 million from $62 million.

On the other hand, equity capital flows resulted in $72-million net withdrawals that were much bigger than the year-ago $5-million outflows, as a threefold growth in gross placements to $113 million from $36 million was outpaced by total withdrawals’ nearly fivefold spike to $185 million from $41 million.

June’s FDI surge fails to lift 1<sup>st</sup> half flows

The June haul pulled the first-semester FDI tally to $3.598 billion, 14% less than the $4.184 billion received in last year’s comparable six months, owing to April 2016’s record $2.244-billion net inflow.

The comparable six months saw investment in debt instruments grow nearly a third to $3.04 billion and reinvested earnings increase nearly a tenth to $416 million, while net equity investment inflows saw a 90.3% drop to $141 million.

Sought for comment, two analysts said foreigners likely see debt instruments as a more viable investment platform amid heightened uncertainty in the global market, demonstrating confidence in the Philippines’ growth story.

Ruben Carlo O. Asuncion, chief economist at Union Bank of the Philippines, Inc., said: “Upon careful inspection, this particular inflow increase… benefits the recipient, through business and operation expansion… As long as it goes to support production activities, it is all good.”

Security Bank Corp. economist Angelo B. Taningco said debt placements seem to have been the choice of investors abroad who have been working around the country’s foreign ownership restrictions.

“I think FDIs into the Philippines utilize more debt financing as opposed to equity financing possibly due to tax and foreign ownership considerations, among others,” Mr. Taningco explained.

“FDIs via intercompany borrowings tend to be relatively large in countries with a high income tax rate and with foreign ownership limits.”

Both economists see the BSP’s $8-billion estimate for FDI net inflows this year as doable, with expectations that more investments will pour in this semester.

If realized, BSP’s projection would be more than 2016’s record $7.93-billion actual net inflows.

The United States, Japan, Singapore, Hong Kong and Taiwan were the biggest sources of foreign capital last semester, BSP said, noting that inflows went mainly to real estate; insurance and other financial services; manufacturing; electricity, gas, steam and air conditioning supply; as well as wholesale and retail trade activities.

Companies bullish on business and economy

TOP BUSINESSMEN remain confident about their companies’ prospects in a fast-growing economy, according to results of a survey conducted by Isla Lipana & Co./PwC Philippine in collaboration with the Management Association of the Philippines that were released to journalists yesterday.

The “Building partnerships in ASEAN: Reimagining the possible” chief executive officer (CEO) survey among 114 Philippine respondents showed that about 68% believe gross domestic product (GDP) growth will hit the government’s 6.5-7.5% target this year, compared to the 59% in the 2016 survey, while four percent expect GDP to exceed that official goal, compared to 2016’s 21%. GDP grew by an average of 6.45% last semester, putting the lower end of the full-year target within reach.

About 63% of survey respondents believe GDP growth will hit the government’s 7-8% target for 2018, while nine percent expect the economy to exceed that range.

The respondents expect their businesses to thrive in that general environment, with 54% “very confident” and 34% “somewhat confident” of their companies’ prospects for revenue growth in the next 12 months, and 57% “very confident” and 37% “somewhat confident” of such prospects in the next three years.

Similarly, 55% of respondents were “very confident” and 37% were “somewhat confident” of their industries’ prospects for revenue growth in the next 12 months, while 54% were “very confident” and 39% were “somewhat confident” of such prospects over the next three years.

PwC Philippines Assurance partner Aldie P. Garcia said at a media briefing yesterday in Makati City that the study found CEOs “confident and ambitious”, as well as “collaborative and visionary.”

“They are confident that they have what it takes to succeed in an integrated ASEAN,” Mr. Garcia said, referring to the Association of Southeast Asian Nations’ declaration at end-December 2015 of an ASEAN Community. “They are collaborative in a sense that they are more open to entering into strategic alliance and partnerships (within the country and with other ASEAN members).”

“Globally, the same optimism was shared by the majority of CEOs, as disclosed by PwC in its most recent survey publication, ‘20 Years Inside the Mind of the CEO… What’s Next?” the Philippine report read, adding that the bigger “survey covered 1,379 CEOs from 80 countries and 51% expressed an extremely positive view on prospects for revenue growth over the next three years.”

Asked to cite the top five concerns they believe the administration of President Rodrigo R. Duterte “should prioritize during its term”, the respondents cited, in descending order: good governance, adequate physical infrastructure, peace and order, an internationally competitive and efficient tax system, and adequate digital infrastructure.

Asked on the top five economic, policy, social and environmental threats, respondents cited, in descending order: terrorism (89%), increasing tax burden (83%), inadequate basic infrastructure (82%), geopolitical uncertainty (81%) and over-regulation (77%).

Bribery and corruption remained the top business threat (79% from 76% in 2016), followed by readiness to respond to crisis (78%), cyber threats (76%), speed of technological changes (75%) and availability of skills (72%).

Asked what business initiatives they plan to undertake in the next 12 months “to respond to the changes in the macroeconomic and business environment”, 75% of Philippine respondents said they will enter into a strategic alliance or partnership (compared to 76% in 2016), 73% said they would reduce costs (flat from 2016), 46% will outsource a business process or function (53%), 41% will “complete a domestic merger and acquisition” (31%), 31% will “complete a cross-border M&A” (17%), 22% will bring back a previously outsourced process or function (34% in 2016), while 16% said they would sell majority interest in a business or exit a significant market (flat from 2016).

Moreover, 52% said their firms “are very likely/likely to compete in other industries” (45% in 2016), citing the consumer and retail sector; healthcare, pharmaceuticals and life sciences; retail and wholesale distribution; technology; food and beverage; as well as real estate and construction. — with Anna Gabriela A. Mogato

Companies bullish on business and economy

Malaysian debt rater upgrades Philippines’ credit outlook

A MALAYSIAN debt watcher has upgraded the Philippines’ credit outlook to “positive” from “stable” in the face of strong economic growth, rising foreign investment inflows and aggressive infrastructure push.

“The positive outlook reflects the country’s stronger-than-expected GDP (gross domestic product) performance in 2016 and growing FDI (foreign direct investments) despite a change in administration, which provides comfort on policy continuity,” Esther Lai, head of Sovereign Ratings at the Kuala Lumpur-based RAM Ratings Services Berhad, said in a press release.

In particular, RAM Ratings analysts cited the P8.44-trillion infrastructure agenda laid out by the administration of President Rodrigo R. Duterte for the next five years, saying that the overall pace of the construction drive is expected to pick up even if the government may miss its ambitious targets in this regard.

Efforts to improve the ease of doing business by trimming red tape and simplifying rules should likewise enhance investor confidence in the country, which in turn will help rake in more FDIs.

The first of up to five tax reform packages of the Finance department that is expected to be in place when 2018 starts also provides support to the country’s credit rating.

In October last year, RAM Ratings upgraded the country’s investment grade to “A” — one notch above its rating given in August 2015 — with a “stable” outlook relative to its Southeast Asian peers.

The Philippines also got an “A” rating under RAM Rating’s Malaysia national scale. It likewise affirmed the “BBB” rating for the Philippines under its global scale, which is the minimum investment grade relative to all other countries.

The debt watcher expects the Philippine economy to grow by 6.7% this year, with the pickup seen fuelled by strong manufacturing and export growth this semester. Philippine GDP grew by 6.4% from January-June.

“The Philippines’ ratings could be upgraded if current improvements are maintained and the country’s growth momentum continues with an increased share of domestic investments and FDI. The successful implementation of tax reforms and coordinated rollout of the government’s ambitious infrastructure projects will also be positive rating triggers,” RAM Ratings said in its statement.

On the other hand, a “weakening” of the country’s fiscal health and the reversal of investment and growth-inducing initiatives could compromise the Philippines’ ratings, although such a development would be “unlikely”.

The debt watcher also allayed worries about the country’s current account deficit, noting it has more than enough dollar reserves to shield it from financial shocks.

“The country’s external payments position, which lends strong support to the country’s investment grade credit ratings, is expected to remain strong in the years ahead on account of significantly rising FDIs, underpinned by sustained inflows in remittances and growing tourism receipts,” Bangko Sentral ng Pilipinas Governor Nestor A. Espenilla, Jr. said in a statement sent by the government’s Investor Relations Office yesterday, as he assured that the central bank will keep inflation low and stable. — Melissa Luz T. Lopez

Central bank considering new tenors for term deposit facility

THE CENTRAL BANK is studying possible tweaks to its term deposit facility (TDF) auctions that may include new tenors, with the adjustments expected to be finalized within the year.

“We are consulting with the industry with respect to [the TDF],” Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo told reporters on Friday last week.

“We have reduced the volume. We now consider additional tenors, but we’re still discussing this with our counterparts.”

The TDF is currently the central bank’s main tool to capture excess money supply in the local financial system in order to bring market rates closer to the 3.0% policy rate of the BSP.

Under this system, banks can place their idle funds — those which are not deployed for loans or stand as reserves — for a small return capped at 3.5%.

Starting September, the BSP trimmed the weekly auction volume to P150 billion after nine straight months of P180-billion offerings, as the monetary authority saw that banks now had less funds to park under the under the 28-day facility.

Mr. Guinigundo previously said that banks may have also decided to use their extra cash to buy more dollars or settle foreign debts, rather than park them with low-yielding TDF instruments.

Since the volume reduction, the BSP official said monetary authorities will be conducting industry consultations on the interest rate corridor (IRC) facilities — more than a year after they were introduced — in order to gauge market interest and craft TDF tools that would respond to such needs. Recent auctions have shown steady appetite for the week-long term deposits, with the P40 billion offering always seeing a full award.

On the other hand, the month-long instruments have encountered tepid market reception, hence, the BSP’s decision to cut the auction size to P110 billion from P140 billion this month.

Mr. Guinigundo said the BSP is now studying the viability of introducing a new tenor.

“We cannot go very long because that will crowd out the T-bills,” he said, referring to the 91-day Treasury notes floated by the national government.

“We’re not sure yet as we are just sounding off.”

Any changes will be finalized in the coming months.

“Within the year we should be able to provide some indications on how to move the IRC forward. But right now, it’s very clear that the IRC is quite effective, the volatility of market interest rates has been reduced,” the central bank official said, noting that market rates have now crept within the 2.5-3.5% spread of BSP’s benchmark rates.

Two traders interviewed yesterday said there could still be room for a new tenor for the TDF given ample market liquidity.

“Reintroducing a new tenor — lalo kung (especially if) longer — I think there is still appetite for it,” one trader said in a telephone interview.

Another trader said the BSP may find it viable to offer 14-day and 21-day instruments as well, straddling the 28-day and the 91-day T-bills. — Melissa Luz T. Lopez

SWS survey shows crime down but fear remains

PROPERTY CRIMES and victimization by common crimes fell to a record low of 3.1% and 3.7%, respectively, whereas physical violence was at a steady 0.6% in the past six months, according to the Social Weather Stations’ (SWS) Second Quarter 2017 Social Weather Survey.

The survey was conducted from June 23 to 26, 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 (with sampling error margins of ±3% for national percentages, and ±6% for each of the said regions).

The survey found a record-low 3.1% (or an estimated 706,000) of families losing property to street robbery, burglars (break-ins), or carnappers within the past six months. “This is 3.2 points below the 6.3% (est. 1.4 million) in [March] 2017, and is 1.4 points below the previous record-low 4.5% (est. 1.0 million) in December 2016,” SWS said.

The survey also found 0.6% (est. 149,000) of families with members hurt by physical violence within the past six months, similar to 0.7% (est. 155,000) in March, 0.7% (est. 166,000) in December last year, and 0.7% (est. 162,000) in September last year, the polling group said.

“This yields a record-low 3.7% (est. 840,000) of families reporting victimization by any of the common crimes. This is 3.1 points below the 6.8% (est. 1.6 million) in March 2017, and is 1.2 points lower than the previous record-low of 4.9% (est. 1.1 million) in December 2016,” SWS added.

The group noted further that, except in March 2013 when it was at 10.5%, victimization of families by any common crime was at single-digit levels from March 2012 to June 2017, with the new record-low of 3.7% last June.

STREET ROBBERY, BREAK-INS
The survey found a 3-point decrease of families victimized by street robbery during the past six months, from 5.3% (est. 1.2 million) in March to a new record-low 2.3% (est. 525,000) in June. This is 1 point below the previous record-low 3.3% (est. 754,000) in December last year, SWS noted.

The survey also found 1.1% (est. 260,000) of families victimized by break-ins, 0.8 points below the 1.9% (est. 435,000) in March.

Of families owning any type of motor vehicle, the survey found that 0.2% (est. 21,000) were robbed of it in the past six months, down by 0.8 points from 1% (est. 83,000) in March.

Families robbed of their personal property outside their homes in the past six months fell by 7.7 points in Metro Manila, from 12% in March 2017 to a new record low of 4.3% in June 2017. SWS said this surpassed the previous record low of 6.7% in March 2000, June 2015, and December 2016.

Quarterly victimization by street robbery fell by 3 points in Balance Luzon, from 4.3% in March to 1.3% in June.

It fell by 1.7 points in the Visayas, from 4.7% in March to 3% in June; and by 1.3 points in Mindanao, from 3.7% in March to 2.3% in June.

In Mindanao, the survey did not find any case of families victimized by break-ins — which were down from 2.3% in March, surpassing the previous record low of 0.7% in September 2007 and June 2008 for this area.

Quarterly victimization by break-ins fell by 0.7 points in Balance Luzon, from 1.7% in March to 1% in June.

It remained steady in Metro Manila at 3.7% last March and June.

However, it rose by 0.3 points in the Visayas, from 0.7% in March to 1% in June.

Families with any member hurt from physical violence in the past six months fell by 0.7 points in the Visayas, from 1.0% in March to 0.3% in June.

Quarterly victimization by physical violence in Metro Manila fell by 0.3 points from 1.3% in March 2017 to 1% in June.

It was unchanged in Mindanao, having been at 0.7% since December 2016. No incidences of physical violence were found in the Mindanao sample in September 2016.

FEAR OF CRIMES
Except for Metro Manila and, also in terms of fear of unsafe streets, Balance Luzon, fear of burglaries and unsafe streets has risen elsewhere, according to the survey.

Families fearing burglaries fell by 3 points in Metro Manila, from 65% in March to 62% in June, the survey said.

However, it rose by 11 points in Mindanao, from 49% in March to 61% in June, and rose by 2 points in the Visayas, from 48% in March to 50% in June.

It also rose by 1 point in Balance Luzon, from 60% in March to 61% in June.

Families fearing unsafe streets fell by 3 points in Metro Manila, from 54% in March to 51% in June.

It also fell by 2 points in Balance Luzon, from 54% in March to 52% in June. However, it rose by 13 points in Mindanao, from 42% in March to 55% in June

It rose by 1 point in the Visayas, from 47% in March to 48% in June.

DRUG ADDICTS, CARNAPPING
The presence of drug addicts fell by 11 points in Metro Manila, from 65% in March to 54% in June. It fell by 9 points in Balance Luzon, from 57% in March to 48% in June.

However, it rose by 4 points in Mindanao, from 44% in March to 48% in June. It also rose by 3 points in the Visayas, from 40% in March to 43% in June.

Vehicle-owning families who experienced carnapping fell by 1.4 points in Metro Manila, from 3.4% in March to 2% in June.

The June 2017 sample had no case of carnapping in the Visayas. Except for the 0.8% in December 2016, there have been no case in the Visayas sample since April 2016.

The sample also had no case of carnapping in Balance Luzon. It fell from 0.9% in March to zero in June. Prior to the 0.9% in March, there were no cases of carnapping in the Balance Luzon sample for three consecutive quarters in 2016.

There was also no case of carnapping in the Mindanao sample in June 2017, down from 0.8% in March.

Since 1989, SWS has been asking respondents of each quarterly survey whether any household member became a victim of street robbery, home break-in, or violence in the past six months.

SWS said it added motor vehicle theft to its list of crimes specifically monitored, beginning 1992.

The polling group also noted that victimization by common crimes reported in its surveys is much higher than the number of crimes actually reported to the police.

Sought for comment, Presidential Spokesperson Ernesto C. Abella said “the government’s successful campaign against crimes and illegal drugs continues to be felt by our people.”

“Indeed much more progress has been achieved in ensuring public safety in the first year of the Duterte administration; however, much more needs to be done, especially in making sure that our streets, neighborhoods, and communities are kept permanently safe, not only within Metro Manila but also in the rest of the country,” he added.

Ramon C. Casiple, Executive Director of Institute for Political and Electoral Reform said in a text message that although “there are too many variables involved to have judgment, the anti-drug campaign seems to impact on the general peace and order situation.”

“However, there is not much significance in the figures cited, either negative or positive,” he added. — Rosemarie A. Zamora

SWS survey shows crime down but fear remains

Hontiveros says Aguirre plotting against her

AKBAYAN SENATOR Risa Hontiveros on Monday called for the resignation of Justice Secretary Vitaliano Aguirre, whom she accused of plotting to file cases against her.

In a privileged speech, Ms. Hontiveros presented as evidence a digital photo of Mr. Aguirre sending text messages during the Senate hearing on the killing of Kian Loyd delos Santos last Tuesday (Sept. 5). The senator said that when the picture was enlarged, it revealed that Mr. Aguirre was texting a certain “Cong. Jing” who said that, “Naturuan na ni Hontiveros ang testigo [Hontiveros has coached the witness]. Her questions are leading questions.” Mr. Aguirre responded by saying that, “yon nga sinasabi ko dito [That’s what I’m saying here]. Very obvious. Kaya nga expedite natin ang cases niyo vs her [That’s why we must expedite your cases against her].”

Ms. Hontiveros said that her office obtained the photo from an anonymous source who took a picture of Mr. Aguirre and inadvertently captured the text message exchange on the phone of the Justice secretary. The senator said she consulted with several photography experts, who all confirmed the authenticity of the digital photo.

The senator said that according to her office’s investigation, the “Cong. Jing” Aguirre was texting is former Negros Oriental Representative Jacinto “Jing” Paras. He is also a member of the Volunteers Against Crime and Corruption (VACC).

It was reported that VACC is the same group that filed impeachment raps against Supreme Court Chief Justice Maria Lourdes Sereno and Ombudsman Conchita Carpio Morales.

“Is the DoJ Secretary plotting a case against a sitting Senator while a Senate proceeding is going on, right inside the Senate session hall? Is Secretary Aguirre accusing me of witness manipulation? Kung kaya ito gawin ng Justice secretary sa isang sitting Senator, ano pa kaya sa ibang mga mamamayang Pilipino? The culture of political vindictiveness that allows Justice secretaries to make a mockery of justice springs from the same poisonous well that encourages policemen to plant evidence, fabricate stories about their targets, and become cold-blooded killers,” Ms. Hontiveros said.

“Siya po (Aguirre) ay nakikipagkuntsabahan sa isang grupo para magsampa ng kaso – kaso na opisina din niya ang magpapasya kung may probable cause o wala. There are no words for this kind of lutong Macau,” Ms. Hontiveros added.

Ms. Hontiveros said this supports the growing perception that cases are being filed against members of the opposition in order to silence and harass them. “Hindi ako magtataka kung sa mga susunod na araw ay may mga kaso nang isasampa laban sa akin si Justice secretary o ang kanyang mga galamay sa VACC [I won’t be surprised if in the next few days, charges are filed against me by the Justice Secretary or his minions in VACC]. If the Justice secretary wants to file cases against me, see you in court, Mr. Aguirre!” she said.

Ms. Hontiveros said that several days after Mr. Aguirre texted Mr. Paras, a standoff ensued between Caloocan Bishop Pablo Virgilio David, who has given sanctuary to the minor witnesses in the Kian delos Santos killing, and the VACC and the Criminal Investigation and Detection Group (CIDG).

The VACC tried to acquire custody of the child witnesses by pressuring the father of one of the witnesses, who had been in the custody of the CIDG. At first, the father wanted his children to leave the Catholic Church’s custody. However, after the father and children had met, and after a long-distance call to his OFW wife in Oman, the father decided that he wanted to leave police custody and join his children under the Church’s protection.

“Why does the Aguirre-supported VACC, with the aid of the CIDG, want to take custody of witnesses who don’t want to be with them in the first place? First, it was PAO, now it’s them. Are they using the custody and protection of some of the witnesses to muddle the search for truth and justice in the Kian killing?” Ms. Hontiveros asked.

She said Mr. Aguirre’s behavior is unethical and unbecoming of a member of the civil service.

“Secretary Aguirre is in violation of the Code of Conduct and Ethical Standards for Public Officials and Employees. He undermines our justice system, and his continued stay in office is a vulgar insult to the Filipino people and our efforts for a more just society. All these lead me to the conclusion that there is no other respectable option but to call on the Justice Secretary to resign,” Ms. Hontiveros concluded. — interaksyon.com

Faeldon surrenders but keeps off Senate inquiry

ABOUT THREE hours into the Senate blue ribbon committee’s eighth public hearing on illegal drugs, resigned Customs chief Nicanor E. Faeldon surrendered to the Senate Office of the Sergeant-At-Arms (OSAA) on Monday, Sept. 11.

Mr. Faeldon, who has been cited in contempt for being a no-show at the Senate inquiry since last week, went directly to the OSAA and did not, as he had previously stated, participate in the committee’s investigation. The committee has been looking into the P6.4-billion shabu shipment from China last May and the related corruption at the Bureau of Customs as tackled by Senator Panfilo M. Lacson’s recent privileged speech linking as well Mr. Faeldon.

Upon being informed of Mr. Faeldon’s arrival, Richard J. Gordon, committee chairman, called for a recess so he could talk to the former Customs chief.

“Sabi niya respetado naman niya ang Senado at handa siya na mag-stay dito at makulong at hahabulin daw niya sa korte. Pero ang pakiramdam niya habang nandito hindi siya mananagot dito dahil ang mga senador ay may mga karapatan tulad ng privilege speech,” Mr. Gordon said.

(Mr. Faeldon said he respects the Senate and that he is ready to stay here. He will just pursue his case in court. He just felt however that while he is here, he wouldn’t be able to defend himself because of the senators’ privileged speeches.)

Mr. Gordon added that if Mr. Faeldon felt maligned by a senator’s privileged speech, he has the right to file an ethics case. The senator also noted that Mr. Faeldon will be detained until he decides to cooperate.

“He was very respectful. He said I came here. I don’t defy the Senate and I respect the Senate except the two,” Mr. Gordon said, quoting Mr. Faeldon. According to the senator, Mr. Faeldon was referring to Mr. Lacson and Senator Antonio F. Trillanes IV, who said accused Mr. Faeldon of being at the “heart of the BoC controversy.”

Mr. Gordon further stated that it is the committee which will decide on where to detain Mr. Faeldon.

“Nasa committee ‘yun. I will not take it upon myself. Puwede kong pananagutan na he is in contempt,” he said.

For his part, Mr. Lacson said: “Ang kinuquestion niya di lang batas kundi Saligang Batas. Maliwanag sa Section 11, Article 6 ng Constitution na kami, di kami pwede ma-held liable sa aming mga speeches, sa debate, sa plenaryo man o sa committee, sa pag-pursue ng aming mandated duties,” Mr. Lacson said. (He is questioning not only the law but the Constitution. It is clear in Section 11, Article 6 of the Constitution that we are not liable for our speeches, in the debates, in the plenary or in the committee, as we pursue our mandated duties.)

Mr. Lacson said he has complete documentation on the charges that he said he will file against Mr. Faeldon and other Customs personnel. “Sabihin na nating kumpleto ang documentation (Let’s just say our documentation is complete). Fina-finalize na lang namin (We are finalizing) and we are about to draft the complaint I will lodge before the Office of the Ombudsman against Faeldon and some other Customs personnel,” he said.

Mr. Trillanes, for his part, said: “Alam ninyo ako nakulong ako e (You know I’ve been jailed before). Kahit na magkaiba ‘yung opinion namin (Even if we have differences in opinion), I wouldn’t wish that to my enemies.”

‘QUICK CONVERSATION’
On Monday’s hearing, Ret. Brig. Gen. Allen A. Capuyan, Assistant General Manager for Security and Emergency Services of the Manila International Airport Authority; and Ret. Capt. Milo Maestrecampo, former director of the Bureau of Customs (BoC) Import Assessment Services (IAS), denied their involvement in the smuggling and bribery inside the BoC.

Earlier in the hearing, Mr. Gordon showed text messages between broker Mark Ruben G. Taguba II and the contact he has identified as a certain Tita Nanie, implicating Messrs. Capuyan and Maestrecampo as part of the so-called “tara” bribery system. Senate protection for Mr. Taguba had been removed but was restored on Monday. For his part, he claimed that he had given a P1-million check to Tita Nanie as intended payment for Mr. Capuyan, which the latter denied at the hearing. Mr. Taguba did not state, however, the recipient he wrote on the check.

But Mr. Capuyan acknowledged that he had met Mr. Taguba through Tita Nanie and Jojo Bacud, whom he had worked with. According to Mr. Capuyan, Mr. Taguba sought his help regarding the entry of his shipments.

“It was a quick conversation since there were other people at the table whom I needed to talk to about airport matters…If I am not mistaken, it was a certain Nanie talking about his (sic) concern at Customs. Out of courtesy to the people around, I politely said I will try to look into his concerns, but no commitments. But certainly, I was of no help because I am not familiar with customs operations and (it) is not (in) my official capacity to do so. It was my first and last meeting with Mr. Taguba,” Mr. Capuyan said.

He added, but without elaborating, that Mr. Taguba has been under investigation by the Philippine Drug Enforcement Agency (PDEA).

Mr. Capuyan also identified Mr. Bacud as someone going back to their time in the Philippine Military Academy. “I meet him again when I was assigned at the airport. I observed conducting intelligence gathering and custom-related functions,” the retired officer said. Mr. Bacud introduced him to Tita Nanie and a certain Noel as “business partners.”

For his part, Mr. Maestrecampo denied ever meeting Mr. Taguba or any of the people mentioned by the broker. He added that the IAS can only flag certain shipments but does not have the power to lift any alert.

Mr. Gordon expressed skepticism over these claims by Messrs. Capuyan and Maestrecampo. The committee will resume its inquiry on Sept. 19. — Mario M. Banzon

Boy found dead not ‘Kulot’ — PNP

POLICE ON Monday said the body found in Gapan City, Nueva Ecija, is not that of 14-year-old Reynaldo de Guzman, based on DNA tests.

Mr. De Guzman, fondly called “Kulot” (curly), went missing on the night of Aug. 17 after he was seen with fellow Cainta, Rizal resident, 19-year-old former University of the Philippine student Carl Angelo Arnaiz, going out to buy snack nearby.

The cadaver of the boy found floating in a creek called Kinamatayang Kabayo in Gapan’s Brgy. San Roque had 28 stab wounds. His head was wrapped in plastic, adhesive tape, and black cloth and his feet were tied and covered with a sack.

His body, which had burns on its side, also smelled of gas, indicating that his killer attempted to set the boy on fire.

Eddie de Guzman earlier said he was able to positively identify that the cadaver belonged to his son Reynaldo through a mark on the boy’s leg and a wart on his knee.

An autopsy conducted by forensic experts from the Public Attorney’s Office showed that the boy suffered three fatal stab wounds to his heart and lungs and that he was continuously stabbed even though he was already dead.

Last Sunday, Sept. 10, Tomas Bagcal showed up after hiding for some days but didn’t say anything about Mr. de Guzman.

According to the 54-year-old taxi driver, who is now under the custody of Rise Up for Life and for Rights, a group of church people and human rights advocates, only one person — Mr. Arnaiz — robbed him. — interaksyon.com

Marcos’s 100th birthday draws praise, protests

SUPPORTERS OF the late Philippine dictator Ferdinand E. Marcos gathered on Monday to celebrate his 100th birthday outside his resting place, amid protests against what his foes believe are moves to restore his powerful family’s tainted image.

President Rodrigo R. Duterte, who has been accused of glorifying the authoritarian rule of Marcos, granted the family’s request to declare his birthday a holiday in his home province of Ilocos Norte and said on Saturday the former strongman was a “hero” to many Filipinos.

Marcos family supporters held a short rally at the cemetery, where a memorial service was planned, but dispersed before the arrival of about 200 protesters. The protesters carried placards in the pouring rain denouncing Marcos and what they say is Duterte’s “Marcosian” leadership style.

Marcos ruled the Philippines for two decades and put the entire country under martial law in 1972, during which time tens of thousands of suspected communist rebels and political foes were killed.

Critics lament what they see as Mr. Duterte’s dictator-like tendencies and fear history is repeating itself, with widespread allegations of human rights abuses in his administration’s war on drugs that has killed thousands of Filipinos.

Mr. Duterte has also placed Mindanao under military control until the end of the year to tackle Islamist extremists, the longest phase of martial law since Marcos. He has repeatedly threatened to expand it to the rest of the country.

Opponents are outraged by what they see as a lack of sensitivity by Mr. Duterte and the possibility his government could grant the Marcos family immunity from prosecution in exchange for the return of part of what many believe was its ill-gotten wealth.

Some independent experts have estimated as much as $10 billion was siphoned off during Marcos’s rule.

The family has offered to return “a few gold bars” but may ask for immunity from criminal prosecution, according to Mr. Duterte.

Karapatan, a human rights advocacy group, said Mr. Duterte’s “shameless concessions” with the Marcos family “will whitewash Marcos’s heinous crimes against the Filipino people, while his family creeps back into power”.

Marcos was overthrown in a 1986 “people power” uprising and died in exile a few years later. His family started to win back political power after returning to the Philippines in the 1990s.

His wife Imelda is a congresswoman, daughter Imee is Ilocos Norte governor, and his son and namesake, popularly known as Bongbong, has sought a vote recount after finishing runner-up in last year’s vice-presidential election.

Mr. Duterte allowed Marcos to be buried with military honors at the Heroes’ Cemetery in Manila last year, despite strong opposition, saying he was fulfilling a campaign promise and all presidents were entitled to be buried there. — Reuters

Philippine Eagle Foundation seeks more financial support

By Maya M. Padillo
Correspondent

DAVAO CITY — The Philippine Eagle Foundation (PEF) is seeking more financial support to improve the Eagle Center and expand exhibit areas to attract more visitors, its top official said.

“We don’t have enough support and investors to improve our facilities and space to expand our exhibits which, in turn, will hopefully pay for itself through increasing visitor traffic,” PEF Executive Director Dennis Joseph I. Salvador said in an interview with BusinessWorld.

Mr. Salvador also said that the recent bird flu incidents in Pampanga and Tarlac, although geographically far and now contained, have highlighted the need for them to look into the development of alternative facilities in case the virus reaches Mindanao. He said they need to have space further away from poultry farms and the migratory path of birds.

The PEF official said while they have a steady set of government, private sector, and international funders, along with eagle sponsors, corporate and individual members, and donors (www.philippineeaglefoundation.org/partners), the expanse of their work requires more funding.

The maintenance for the Eagle Center alone, he said, costs about P5 million a year. The Philippine Eagle Center sits on an 8.4-hectare area located at the foothills of Mt. Apo in Malagos, Davao City.

PEF focuses on the protection of the endangered Philippine Eagle through the preservation of forest habitats alongside sustainable use of resources by communities living there.

“Over and beyond these are logistics to carry out field work and expeditions in Leyte, Samar and Luzon, education campaigns as well as funds to ‘incentivize’ communities in areas where eagles occur,” Mr. Salvador said.

In terms of public awareness, he said there is still a long way to go in terms of fully understanding the value of the country’s national bird and its role in the forest ecosystem.

“Even in areas where the eagles are, people continue to shoot them. Clearly knowing is not enough. We have to invest further in changing values and attitudes,” he said.

The PEF, in partnership with the Asian Raptor Research and Conservation Network (ARRCN) is hosting the 10th ARRCN Symposium on Oct. 18-22 at the Ateneo de Davao University (ADDU). The event is co-organized by ADDU, Davao City government, Department of Tourism-Davao Region, and the Wild Bird Club of the Philippines. This year’s symposium theme would be “Renewing Raptor People Ties through Community Based Initiatives”.

The PEF recently received a donation of P1.156 million from the Marco Polo Hotels, with the check handed over by Philippe Caretti, Wharf Hotels vice-president for operations; Francis R. Ledesma, Halifax Davao Hotel, Inc President; and Dottie Wurgler-Cronin, general manager of Marco Polo Davao.

Mr. Salvador said, “We deeply appreciate Marco Polo Davao and Philippe Caretti for making it possible for the entire Marco Polo Hotels family to support PEF. Realizing our many needs, they went out of their way to orchestrate a fund-raising project which engaged both its guests, associates and members of the local community. In doing so, it enhanced public awareness about our national bird not just in the Philippines but other parts of the world.”

Duterte makes fourth visit to Marawi

By Rosemarie A. Zamora

PRESIDENT Rodrigo R. Duterte on Monday, Sept. 11, made his fourth visit to Marawi City to check the condition of military troops in the battle area, Malacañang said.

During his visit, he went to the Grand Islamic Mosque, where the Maute group held its hostages and which they also used as their command and control center at the height of the clashes which began on May 23.

Mr. Duterte also went to the retaken Mapandi Bridge and to the main battle area where he accommodated a photo opportunity with soldiers.

Earlier that day, Presidential Spokesperson Ernesto C. Abella said at the Palace that “the fight against a Daesh-inspired rebellion in the Islamic city of Marawi is in its last miles.”

Armed Forces of the Philippines Spokesperson Brig. Gen. Restituto F. Padilla, for his part, said “We’re entering the last and final stages of our fight in Marawi.”

“That is being mentioned because the remaining areas where the rebels are holed up are getting smaller and smaller by the day. And as we clear more buildings, we deny them the opportunity to retake additional facilities or installations where they can hide. So they are actually concentrated on only a few,” he added.

The President first visited the city on July 20 when Mapandi Bridge was retaken. he returned on Aug. 4 after troops were able to retake the Safrullah M. Dipatuan (SMD) General Hospital and again on Aug. 24.

Mr. Duterte arrived in Marawi City together with Defense Secretary Delfin N. Lorenzana, National Security Adviser Hermogenes C. Esperon, AFP Chief Eduardo M. Año and Special Assistant to the President Christopher “Bong” T. Go.

The fighting in Marawi is on its 112th day, with enemies killed reaching 655, recovered firearms now at 685.

Trillanes to face ethics probe, signs waiver on alleged bank accounts

SENATOR Antonio F. Trillanes IV on Monday, Sept. 11, disputed President Rodrigo R. Duterte’s claim that he had overseas accounts, saying that some of the banks mentioned by the President were non-existent.

Meanwhile, the Senate Ethics Committee, chaired by Senator Vicente C. Sotto III, found the ethics complaint filed by Senator Richard J. Gordon against Mr. Trillanes sufficient in form and substance.

In his press conference on Monday, Mr. Trillanes presented a signed waiver to have the Anti-Money Laundering Council (AMLC) investigate his alleged off-shore accounts at the Hongkong Shanghai Bank — Raffles and Premiere Center Auckland Branch, UBS Bank Switzerland — Zurich Branch, Habib A.G. Bank — Zurich Main Branch, Deutsche Bank — Geneve Main Branch, Nova Scotia Bank — Toronto Main Branch, ANZ Bank — Auckland Main Branch, Equitable Bank — Toronto Main Branch, DBS Bank — Alexandra Branch, CIM Bank — Geneve Main Branch, and ComerzBank A.G. Bank — Zurich Branch.

“Consistent with the foregoing principle and to debunk false allegations being circulated that I have secret bank accounts with various offshore banks, I am hereby voluntarily executing this waiver and I am authorizing the Office of the Ombudsman and the Anti-Money Laundering Council (AMLC) to open and look into the supposed bank accounts (including closed accounts if any) allegedly under my name,” the senator said in his sworn waiver.

Mr. Trillanes also said he plans to file libel cases against journalists Erwin Tulfo and Ben Tesiorna and social media personality Mocha Unson for “spreading fake news.” The three have also accused Mr. Trillanes of maintaining offshore accounts.

As for his ethics case, Mr. Trillanes said he respects the decision of the committee.

“I will submit to the process. I will face it wholeheartedly because I am confident that I didn’t do anything unparliamentary,” he said.

Mr. Trillanes added that he will submit his ethics complaint against Mr. Gordon later this week or early next week. — MMB

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