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The NPAs are next, Duterte says

By Jil Danielle M. Caro

THE communist New People’s Army is next on President Rodrigo R. Duterte’s list as soon as the armed forces is done with the Maute group which continues to occupy parts of Marawi City.

“The NPA is next,” Mr. Duterte said in his speech during his visit to Marawi City on Thursday. “Because they have many debts to us. I don’t want to talk to them anymore. They have already killed many of my soldiers. They have already killed many of my policemen.”

He added: “And the Communist Party of the Philippines, it’s published yesterday that the NDF branded me as a bully. Correct, you are right, 100 percent. I bully people who try to topple government and all the enemies of the state. That is my job to bully you and to kill you because there is a war going on between us and you. And you are killing my soldiers and policemen, so I bully you.

Last Wednesday, the government announced its plan to cancel the scheduled back-channel talks with the National Democratic Front of the Philippines (NDFP) in August after NPA rebels launched attacks on armed and security forces.

However, the Office of the Presidential Adviser on the Peace Process (OPAPP) Secretary Jesus G. Dureza told reporters via text message on Friday not to interpret Mr. Duterte’s pronouncement on cancellation of peace talks with the Communist Party of the Philippines-New People’s Army-National Democratic Front (CPP-NPA-NDF).

“I have not heard him say categorically “talks over or terminated”, did he?” Mr. Dureza said.

“What is clear now is that the scheduled backchannel (meeting) to work on possible resumption of suspended 5th round was cancelled. If there will [be] a new officially announced position, then let’s all wait for a categorical statement coming from the President no less.”

For his part, Defense Secretary Delfin N. Lorenzana, scored the CPP-NPA and expressed support for the suspension of the peace talks.

“As our security forces continue to fight terrorists in Mindanao and as the government gets ready to start the recovery, reconstruction, and rehabilitation of Marawi City, the treacherous communist terrorists NPA has once again shown their utter lack of empathy towards our suffering countrymen,” he said.

“I trust the integrity and honesty of our Government Peace Panel. I know they are doing what they think is for our country, in accordance to the law and to the advocacy of our President. I, however, question the sincerity, integrity, and motives of the other side,” he added.

In a press statement on Thursday, the NDFP said that no ceasefire was expected in the areas where the clashes took place.

“If the GRP (Government of the Republic of the Philippines) is so determined to terminate the negotiations, it can avail of the pertinent provision in the JASIG (Joint Agreement on Safety and Immunity Guarantees) to do so, and not engage in subterfuge and threats in an attempt to force the NDFP to capitulate to its demands,” NDFP Chief Negotiator Fidel V. Agcaoili said.

EDUCATION FUND FOR KIDS OF SOLDIERS, POLICE
During his speech in Marawi, Mr. Duterte asked soldiers to fight for the country.

“My message to you is — fight for your country. I will fight for your right. Everything you will need, I will give them brand new. Now, I will no longer buy second hand,” Mr. Duterte said.

“I have authorized the Armed Forces to use all my presidential planes. Use them for I no longer use them. They’re yours,” he said.

Mr. Duterte also promised to double the salary of the armed forces and the policemen by next year.

He also reaffirmed his previous pronouncement that he will secure the education of the armed and security forces’ children.

“I promised the armed forces and the police that by the time I leave office, I would have saved 50 billion [pesos] trust fund for your children, it is not required that you’re dead. Dead or now, this is for your children’s education. You will not waste that, it is solely for education. Whether you retire alive or get off in the service, the 50 billion is yours. This will do at this time, education is now expensive,” he said.

Duterte says he declared martial law to avoid impeachment

PRESIDENT Rodrigo R. Duterte said that he declared martial law to avoid the risk of impeachment.

In his speech during his visit at Camp Ranao, Marawi City last Thursday, Mr. Duterte said that ”critical conditions” in the area as cited by the military led to his declaration of Proclamation 216, which placed the Mindanao region under martial law.

“Even if you’ll say that it was I who declared Martial Law and I am the one who ordered all of you to go here, please understand my duty as a President,” he said. “Otherwise, I would be the candidate for impeachment also. It is heavier, I can be sacked from post and it it’s humiliating.”

Mr. Duterte, however, emphasized that he “grieves for the civilians,” and “especially to the soldiers who I ordered to go here to fight and die.”

However, Mr. Duterte failed to explain how a decision to withhold proclaiming martial law would be regarded as an impeachable offense.

According to the Constitution, the president can only be impeached based on the following grounds: culpable violation of the Constitution, treason, bribery, graft and corruption, other high crimes, or betrayal of public trust. — Jil Danielle M. Caro

Justice Jardeleza remains the richest magistrate

SUPREME COURT Associate Justice Francis H. Jardeleza remains the magistrate with the highest net worth, as the SC, on Friday, disclosed the summary of the Statement of Assets, Liabilities and Net Worth (SALN) of the 15-member court.

Mr. Jardeleza declared a net worth of P252.16 million, which shows an increase of P2.49 million from his 2015 SALN. His real estate properties are worth P58.9 million and personal property at P193.2 million. Mr. Jardeleza, who filed his SALN jointly with his wife, Concepcion L. Jardelza, declared that he has no liabilities at the time of the filing.

Associate Justice Marvic M.V.F. Leonen also remained as the “poorest” magistrate as his SALN showed his net worth of P2.49 million, recording an increase of P220,000 from his last year’s SALN.

Two of the newest members of the Court also posted their SALN since their assumption of duties. Former Sandiganbayan Associate Justice, and now SC Associate Justice Samuel R. Martires’s net worth is P40.77 million, while Associate Justice Noel G. Tijam, former member of the appellate court — has a net worth is P15.97 million.

Chief Justice Maria Lourdes P.A. Sereno declared a net worth of P24.5 million, which recorded an increase of P2.01 million from her 2015 SALN which declared P22.17 million.

Meanwhile, Associate Justice Lucas P. Bersamin posted the highest increase in net worth. His 2016 SALN pegged his net worth at P41.3 million, netting an increase of P12.14 million from his 2015 SALN.

Most of the justices’ net worth posted an increase from P200,000 to P4 million.

The summary of the justices’ SALN was signed by SC Clerk of Court Felipe B. Anama.

This is the third time that the SC has made public the SALN of the justices, following the clamor for greater transparency at the high court since the height of controversy involving the late former Chief Justice Renato C. Corona.

Mr. Corona was impeached by the Senate on May 29, 2012 for failing to declare his net worth properly.

The first-ever summary of SALNs was released on June 11, 2015, in time with the high court’s 114th anniversary. — Kristine Joy V. Patag

Gov’t troops kill 4, arrest 2 in Western Mindanao

GOVERNMENT forces successfully neutralized six enemies and seized eight firearms in Western Mindanao within the past three days, authorities said.

Last Thursday, troops of the 21st Infantry Battalion heavily engaged the Abu Sayyaf bandits while on focused military operations in Barangay Bungkaong, Patikul, Sulu. The encounter resulted in the death of two members of the Abu Sayyaf Group (ASG) named Benajir Intag, whose body was recovered on site, and Bassal Mahalli.

Troops also seized five high-powered firearms, which include one (1) K3 squad automatic weapon, one (1) M16A1 Colt with M203 attached, and one (1) M653 Elisco with M203 attached.

Two cellphones, three solar panels, and 8 backpacks containing assorted food and personal belongings were also found by the troops in the temporary resting area of the ASG members.

“One of our soldiers was wounded and was immediately extricated by the responding troops to be given medical attention,” said Brig. Gen. Cirilito Sobejana, Joint Task Force Sulu commander. “He is now on stable condition and is already recuperating,” he added.

As of this report, 285 ASG members were neutralized in the entire Western Mindanao. Of the total number, 112 were killed, 103 surrendered to troops, and 70 were apprehended.

Meanwhile, last Tuesday, two communist rebels were killed, six were wounded, and another one was arrested by the elements of the 44th Infantry Battalion and the Municipal Police Station following the series of armed engagements in Sindangan, Zamboanga del Norte. They have also recovered ammunition, explosive devices, and subversive documents.

Also on Tuesday, combined forces of the Joint Task Force Central — 57th Infantry Battalion and 2nd Mechanized Infantry Battalion — were able to apprehend two lawless elements, during the conduct of a law enforcement support operations in Maguindanao.

Among those apprehended include Menta B. Umpan, a suspected Bangsamoro Islamic Freedom Fighters (BIFF) member and a certain Tolks Lakim, a lawless element at Lower Meta Village, Datu Unsay.

In his report to Western Mindanao Command (WESMINCOM), Brig. Gen. Arnel Dela Vega said that the troops were able to recover 3 high-powered firearms that include one (1) M16 rifle, one (1) M653 and one (1) M16 A1 rifle.

Lt. Gen. Carlito G. Galvez, Jr, commander of WESMINCOM, congratulated the armed forces “for their persistence in going after these threat groups and persons within their respective areas of operation.”

“Truly, our troops are very eager to make sacrifices in order to ensure that the people they serve will have a peaceful community,” Mr. Galvez said, adding, “I enjoin all our soldiers to continue the fight. Surely, our Commander-in-Chief (President Rodrigo R. Duterte) will be with us all the way in this given mission of liberating not just Marawi but the entire country from any form of threat.” — Jil Danielle M. Caro

ASEAN relief body donates equipment for residents displaced by Marawi conflict

A disaster relief body of the Association of Southeast Asian Nations (ASEAN) handed over relief items and equipment for persons displaced from their homes in Marawi City and other affected communities on Friday.

Officials received 600 family tents, 600 family kits, more than 3,000 personal hygiene kits, 600 kitchen sets, and 4 water filtration units from the ASEAN Coordinating Centre for Humanitarian Assistance in Disaster Management (AHA Centre) at the Laguindingan Airport, Misamis Oriental.

On hand to witness the turnover were Task Force Bangon Marawi Executive Director and National Defense undersecretary for defense operations Cesar B. Yano and Vice Chairperson for Disaster Response and Social Welfare and Development Secretary Judy M. Taguiwalo.

The ASEAN immediately responded to the request of the Philippines for assistance, in accordance with the One ASEAN, One Response declaration signed on September 2016.

The declaration is based on the principle of harnessing the individual and collective strengths of ASEAN members to effectively respond to disasters within and beyond the region.

“Today we witness the realization of One ASEAN, One Response. In the spirit of ASEAN solidarity, we are supporting the Government and the people of the Philippines in the form of ASEAN relief items. This is one of those moments where the vision of One ASEAN One Response is no longer an imagination but a realization,” Ms. Adelina Kamal, AHA Centre acting executive director said.

For his part, Mr. Yano said that: “AHA Centre has been a very excellent partner of the NDRRMC (National Disaster Risk Reduction and Management Council) in dealing with the major incidents that have happened in past, offering and sending support and assistance. Their donation would contribute, in no small measure, to the success of our post-disaster operations.”

Task Force Bangon Marawi has been exerting efforts for the speedy recovery, reconstruction, and rehabilitation of affected communities by the ongoing Marawi siege.

Based on latest reports gathered by the NDRRM Operations Center, 5,055 families or 27,335 persons are housed in 89 evacuation centers while 98,846 families or 442,981 persons are staying in friends or relatives amid the conflict. — Jil Danielle M. Caro

BSP looking into Metrobank ‘internal fraud’

By Melissa Luz T. Lopez, Senior Reporter

THE Bangko Sentral ng Pilipinas (BSP) is currently looking into internal lapses that led to a reported P900-million fraud case faced by Metropolitan Bank & Trust Co. (Metrobank), alongside criminal raps lodged against the bank official said to have crafted the scheme.

Continue

DoubleDragon raises P9.7 billion in second bond sale tranche

DoubleDragon-citymall
CityMall Roxas

DOUBLEDRAGON Properties Corp. raised P9.7 billion from the sale of the second tranche of fixed rate retail bonds after exercising the oversubscription option of the issue.

DoubleDragon tapped the overallotment option of P3.2 billion on the back of strong investor demand, the real estate developer said in a disclosure to the stock exchange.

The sale of seven-year bonds forms part of a P15-billion shelf registration previously approved by the Securities and Exchange Commission. The company issued the first tranche last December through a P5.3-billion bond issuance.

“This marks a momentous moment for DoubleDragon as the company has now fully funded all of its capex requirements for our 2020 vision to complete one million square meters of prime commercial leasable space across the Philippines,” Hannah M. Yulo, Chief Investment Officer of DoubleDragon, was quoted in the statement as saying.

The retail bonds were issued at a fixed coupon rate of 6.0952%. Similar to the first tranche, Philippine Rating Services Corp. issued a credit rating of PRS Aa to this round of retail bonds due 2024.

BDO Capital & Investment Corp., RCBC Capital Corp., Maybank ATR Kim Eng Capital Partners, Inc., and BPI Capital Corp. were tapped as joint lead underwriters of the issue.

“The last three years have been incredibly exciting for the DoubleDragon team, growing from a small start-up company barely a few years back, to the company that it is today. We will continue to strive hard to become one of the most durable and relevant property players in the country,” DoubleDragon Chairman Edgar “Injap” Sia II said.

DoubleDragon has earmarked the proceeds from the offer for its expansion, which includes the development of community mall chain CityMalls, DD Meridian Park in Pasay City, and Jollibee Tower in Ortigas Center. The projects would allow the developer’s leasable portfolio to reach a total of one million square meters by 2020.

DoubleDragon posted a net income of P165.7 million in the first three months of 2017, soaring 280% year on year on the back of consolidated revenues of P649 million. The company attributed the growth to real estate sales which jumped 66% to P400 million, as well as the 129% rise in rental income to P104.5 million.

DoubleDragon is a joint venture between Injap Investments, Inc. of Mr Sia — the founder of the Mang Inasal grilled chicken restaurant chain — and Honeystars Holdings Corp. of Tony Tan Caktiong, chairman and founder of Jollibee Foods Corp.

Shares in DoubleDragon added 30 centavos or 0.64% to close at P47.20 each on Friday. — Krista Angela M. Montealegre

AirAsia’s Fernandes wants travel tax on outbound Filipino tourists removed

AirAsia Tony Fernandes
AirAsia’s Tony Fernandes — BW FILE PHOTO

By Carmelito Q. Francisco, Correspondent

DAVAO CITY — AirAsia Group Chief Executive Officer Anthony Francis Fernandes is urging the Philippine government to look into scrapping the travel tax imposed on outbound Filipino tourists to encourage more international movement as well as flights.

In a press conference here after his speech at the 2017 Davao Investment Conference yesterday afternoon, Mr. Fernandes pointed out that the government should consider the fact that not much is being earned “in airports that do not have international flights.”

Scrapping the travel tax, he said, will lure airlines to open more international routes, particularly to and from airports outside the capital.

“This will encourage travelers to visit the (international) destinations without spending more,” said Mr. Fernandes, adding that foreign travelers will also have more options when visiting the Philippines.

“The travel tax is the deterrent,” he said.

The latest data from the Philippine Statistics Authority and the Department of Tourism indicate robust domestic tourism, with 71.43 million Filipinos, ages 15 years old and above, traveling within the country between April and September 2016.

Mr. Fernandes said he will be meeting with top government officials, including Finance Secretary Carlos G. Dominguez, to discuss his suggestion.

DAVAO-KL FLIGHTS
The AirAsia top executive made the call as the airline’s local subsidiary, AirAsia Philippines, announced yesterday that it will be offering Davao-Kuala Lumpur flights beginning Dec. 21.

It will initially fly the route four times a week.

Mr. Fernandes said that while the route had been in their expansion program, they decided to launch it earlier than planned as a direct response to President Rodrigo R. Duterte’s request, which was made when they met in Cambodia last year.

The airline chief said that he also presented several requests to the President at that meeting, and “a lot of things that we talked about in Cambodia have already been in action,” although he declined to give specifics.

“This is the government that walks the talk… it is much easier to do business here,” he said.

Aside from the Davao-Kuala Lumpur service, Mr. Fernandes said they are also considering opening 10 other routes within the next three years.

He stressed, however, that the company needs government policies that will help expand the travel market.

“We’d love to put a lot of aircraft in Davao,” he said.

Davao Mayor Sara Duterte-Carpio said at the opening of the forum that she “is confident” that AirAsia “will be able to sustain its operations” in the city.

Ms. Carpio, daughter of the President, was scheduled to sign a memorandum of understanding with Mr. Fernandes committing assistance from the city government to help grow the market.

AirAsia launched four new domestic routes in April, from Davao going to Cebu, Boracay, Clark, and Puerto Princesa.

Resrvations for Century Properties subdivision 1st phase hit 86%

PHirst Homes
Scale model of PHirst Park Homes in Tanza (PHoto credit: Facebook/PHirstParkHomes)

CENTURY Properties Group, Inc. reported brisk sales take-up for its maiden venture into horizontal development in partnership with Japanese firm Mitsubishi Corp.

PHirst Park Homes, the first-home brand of Century Properties, generated P1.07 billion in net reservations from the sale of 860 units, or 86% of the first phase of the 26-hectare development in Tanza, Cavite as of mid-July, the listed property developer said in a statement. The brand was launched on May 27.

The property will have a total of 3,000 units.

Century Properties attributed the strong sales to the robust demand for housing products priced between P1 million and P3 million.

The residential project generated strong end-user demand from Cavite, Laguna, Batangas, and Quezon, which accounted for close to 60% of sales. Overseas Filipinos also took up a big portion of the project, as Century Properties capitalized on its strong marketing presence abroad.

“We are optimistic that the sales momentum will be sustained as we are set to open the second phase of the Tanza property soon,” Ricky M. Celis, president of PHirst Park Homes, was quoted in the statement as saying.

Century Properties has identified the first homebuyer market as one of the two allied real estate segments for its 2020 business expansion, with the other being leisure and tourism.

“By 2020, PHirst Park Homes is expected to generate about a third of Century Properties’ revenues and income. As it ramps up its projects in this segment, it is in the process of closing deals to increase its landbank in strategic locations such as Cavite, Laguna, Bulacan, and Batangas,” Mr. Celis said.

Shares in Century Properties slid by a centavo or 1.64% to close at 60 centavos apiece on Friday. — Krista Angela M. Montealegre

BSP to release new coin designs this year

By Melissa Luz T. Lopez, Senior Reporter

THE CENTRAL BANK is looking to release new coin designs within the year, but will drop the 10-centavo coin from the denominations.

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo said on Friday that the design for the new coins are expected to come out by end-2017, along with its initial release to the public.

“In due time the design will be rolled out… [we target] before the end of the year,” Mr. Guinigundo told reporters on the sidelines of a press briefing on Friday. “Circulation can also happen at the same time but in a limited capacity.”

Previously, the central bank was targeting a 2019 release of new coin designs, which comes years after the BSP released the New Generation Currency series for bills in 2010.

The BSP has the sole authority to issue money for general use. Central banks regularly change their bills and coins as a guard against fake money.

The central bank official added that the new set of designs will exclude the 10-centavo coin, in line with plans to rationalize the volume of coins produced in terms of its wide use. To be retained are the one-centavo, five-centavo, 25-centavo, P1, P5, and P10 denominations.

The current coin designs have been in use since 1995.

Mr. Guinigundo said the new coins will carry additional security features as a guard versus counterfeiting, and will also follow a demonetization schedule similar to the gradual phase-out of the old design banknotes.

“It is more challenging to demonetize coins than banknotes. We will have to physically get them and collect them and do something with them,” Mr. Guinigundo said, noting that it was easier to dispose of old bills via shredding.

All bills carrying the 1985 design have lost their value following the June 30 deadline set by the BSP to get these replaced before banks and central bank offices nationwide. The old notes could not be used for daily transactions since Jan. 1, 2016, or five years after the new design was released.

The central bank prints bills and mints coins at its Security Plant Complex along East Avenue in Quezon City.

At present, the New Generation Currency has been the designated money for general circulation in denominations of P20, P50, P100, P200, P500, and P1,000.

Once the new coin designs are released, these will be used in general circulation alongside the old coins before these are demonetized by the central bank.

Inflation expected to moderate in 2nd half — BSP

INFLATION may have already peaked this year, with the rate of price increases expected to soften in the coming months on the back of lower oil prices, a senior central bank official said.

BSP Deputy Governor Diwa C. Guinigundo said the pace of price increases will likely moderate during the second half, which would bring the full-year tally closer to the central bank’s 3.1% forecast.

“It may have likely peaked already when it hit 3.4%,” Mr. Guinigundo told reporters on Friday, referring to the monthly readings logged in March and April.

The senior central bank official noted that latest estimates point to a possible pickup in prices at 3.4% in August, but said that this projection could soften given that the decline in oil prices and commodity prices have been generally “moderate.”

Inflation has averaged 3.1% during the first half, marked by June’s 2.8% reading which was a five-month low but still well within the central bank’s 2-4% growth goal. The pace of price increases is expected to slow to 3% annually in 2018 and 2019.

BSP Governor Nestor A. Espenilla, Jr. said inflation is expected to stay close to the 3% level over the next three years on the back of lower world crude prices, the moderation in domestic growth momentum, and the recent appreciation of the peso.

Meanwhile, economic growth is seen to remain intact, with latest data pointing to “robust picture” for the rest of the year.

Gross domestic product expanded by 6.4% during the first three months, slower than 6.6% climb posted during the fourth quarter of 2016.

Mr. Guinigundo said the manageable inflation environment gives the BSP room to keep borrowing rates steady, especially with reduced “pressure” coming from the United States’ future policy moves.

“In the past, we have a saying as well that we don’t have to respond immediately… we have our own idiosyncratic considerations of the domestic economy,” Mr. Guinigundo said during the briefing.

The senior central bank official said there were lower chances of a rate hike from the Federal Reserve within the year, with the next move expected during the first quarter of 2018.

“It’s something we need to consider, but in the general scheme of things, we don’t expect the US Fed to continue exerting pressure on us to start considering a possible policy tightening in the Philippines,” Mr. Guinigundo added.

The US Fed has introduced two rate increases of 25 basis points each in March and June this year, on track with earlier plans towards rate normalization. — Melissa Luz T. Lopez

Alliance Select restructures equity

LISTED seafood company Alliance Select Foods International, Inc. said it will implement an equity restructuring program to its existing deficit for healthier revenue growth.

“As we complete our turnaround strategy this 2017, we want to restart with a clean slate and position the company to declare dividends moving forward, and at the appropriate time,” said Raymond KH See, Alliance Select President and CEO, in a statement to the stock exchange on Friday.

“This is a necessary adjustment so we can further expedite our efforts and consolidate our recent gains.”

Under this strategy, Alliance Select will reduce the par value of its shares to P0.50 from P1.00.

Equity restructuring is common for companies that clean up their balance sheets.

Alliance Select is a homegrown international seafood company whose products are distributed in various foreign markets including Europe, the US, Japan, and the Middle East.

During the first three months of the year, the company registered a 15% year-on-year increase in revenues at $17 million.

Sales from the firm’s tuna segment rose 14% from last year’s while its salmon sales ended the quarter with a 16% expansion in total sales.

Trading of Alliance Select shares ended Friday at P0.88 apiece, up 4.76%.

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