How PSEi member stocks performed — December 18, 2023
Here’s a quick glance at how PSEi stocks fared on Monday, December 18, 2023.
Philippines secures P14.5-B pledges; Marcos launches investments office
By Kyle Aristophere T. Atienza, Reporter
THE PHILIPPINES announced on Monday that it secured investment pledges amounting to P14.5 billion during a business event organized by the Philippine trade department in Tokyo while President Ferdinand R. Marcos, Jr. was there over the weekend.
Malacañang also announced that the President issued a Dec. 15 executive order creating an office that would be responsible for providing him with strategic advice on economic concerns, including inflation and investment opportunities.
The P14.5-billion investment commitments in the form of memorandums of understanding (MoUs) could generate a total of 15,750 job opportunities, the Presidential Communications Office (PCO) said in a press release following a Department of Trade and Industry (DTI)-led event on the sidelines of the Association of Southeast Asian Nations (ASEAN)-Japan summit attended by Mr. Marcos in Tokyo.
The Chief Executive said the investment commitments secured by Manila on Monday and during his official visit to Japan in February now sum up to P771.6 billion and could generate 40,000 jobs.
Citing information from Presidential Adviser on Investment and Economic Affairs Frederick D. Go, the PCO said 20 companies have given the President updates on their pledges during his February trip.
The parties involved include the Bases Conversion and Development Authority (BCDA) and Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN), which will collaborate on studies relevant to the development of the New Clark City.
The BCDA is also partnering with Manila Japanese School (MJS) for the renewal of its lease in a four-hectare site at the Bonifacio Global City for another 25 years, the PCO said.
Other investors include Ibiden Co. Ltd and Japan Aviation Electronics Industry Ltd., which will both infuse foreign direct investments (FDIs) in the Philippines’ electronics manufacturing sector. They seek to increase production by modernizing their Philippine facilities, the PCO said.
Among the companies that have FDI commitments to the Philippines include Medley Inc., Minebea Mitsumi Inc., Nitori Holdings Co. Ltd and Tsuneishi Shipbuilding Co. Ltd.
“They are investing for business process outsourcing (BPO) operation, expansion of furniture and home furnishing chain, as well as production improvement and replacement of aging Philippine facilities,” the PCO said.
It said DMCI Project Developers Inc. is pursuing a joint venture with Japan’s Marubeni Corp. for property development projects
EO49 CREATES INVESTMENT, ECONOMIC AFFAIRS OFFICE
Meanwhile, the PCO said in a separate release that Mr. Marcos has signed an executive order creating the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), which will be led by Mr. Go.
Mr. Marcos cited the need to establish “a robust monitoring system to ensure a holistic and cohesive approach to addressing the diverse economic challenges currently confronting the nation.”
“There is a need to further strengthen the existing mechanisms for formulation, coordination and implementation of the Government’s economic initiatives, plans, policies and programs,” he said in Executive Order (EO)No. 49, which was signed by the President on Dec. 15.
The office will be headed by a Special Assistant to the President for Investment and Economic Affairs with the rank of a secretary.
The office will advise the Philippine leader on economic matters and concerns, including, among others, the increasing prices of key commodities.
It will also be responsible for ensuring that investment pledges being secured by Manila are “realized and come to fruition.”
The Special Assistant to the President for Investment and Economic Affairs will serve as Chairperson of the Economic Development Group (EDG), while the Secretaries of the National Economic and Development Authority (NEDA) and Department of Finance (DoF) shall serve as Vice Chairpersons.
“The SAPIEA shall work with the EDG, and identify the priority programs, activities and projects (PAPs) in the Philippine Development Plan (PDP) 2023-2028, as well as monitor, review and evaluate the progress of priority initiatives and PAPs of the administration,” the PCO said.
As chairman of the EDG, Mr. Go will supervise, on behalf of the President, the NEDA, DoF, DTI, the Department of Budget and Management, and their respective attached agencies such as the Board of Investments, Philippine Economic Zone Authority, Securities and Exchange Commission, “to ensure effective and efficient implementation of their respective priority initiatives and PAPs.”
“The said agencies are required to regularly report and coordinate with the SAPIEA on priority initiatives and PAPs,” the PCO said.
With his new position, Mr. Go will also sit as a member of NEDA Board, Investment Coordination Committee, Social Development Committee, Committee on Infrastructure, and Development Budget Coordination Committee.
The PCO did not immediately respond when asked if Mr. Go could stay on as Robinsons Land chief executive officer and president if he is appointed to the Cabinet-level post.
The creation of the OSAPIEA is in line with the implementation of the Philippine Development Plan for 2023 to 2028, the PCO said.
Why Manila, Tokyo see eye-to-eye on rushing defense deal
THE PHILIPPINES and Japan have sharpened their focus on a targeted deal that would give Japanese troops easier access to the Southeast Asian nation, following recent tensions in the South China Sea, President Ferdinand R. Marcos, Jr. said on Monday.
Geopolitical analysts said the proposed Reciprocal Access Agreement (RAA) is unlikely to face setbacks since the two countries believe that it is beneficial to the stability of the Indo-Pacific region, beset by many authoritarian challenges, including China’s expansionist agenda and nuclear threats from North Korea.
Speaking to media in Tokyo, Mr. Marcos said he and Japanese Prime Minister Kishida Fumio want the RAA done as soon as possible.
“I think both the Prime Minister and I agree ASAP (as soon as possible),” he said on Monday, after the two leaders held a bilateral meeting on Sunday. “All of this as soon as possible… if not, sooner.”
While RAA talks between the two countries had been in the works “way before” China’s increasing intrusions into Philippine waters, “the incidents in the past few couple of months have certainly sharpened our focus when it comes to that,” Mr. Marcos said.
“That’s one of the things that I’m looking forward to,” he added. “That will have a very big multiplier effect on our capabilities.”
Mr. Marcos said the Philippines is forging such a security arrangement not only with Japan, but also with other countries amid increasing tensions in the South China Sea. “We also have the same kind of negotiations or discussions with many other countries,” he said.
MUTUAL INTERESTS AID PHL-JAPAN RAA TALKS
But Chester B. Cabalza, founder of Manila-based International Development and Security Cooperation, noted that the commitment between the Philippines and Japan to have an early conclusion for the defense pact comes on the heels of China’s aggression in the waterway.
“On a bigger scale, it is perceived as a rational strategy to foster collective deterrence against Beijing’s kinetic aggression and ambitious unilateralism in the region,” he said in a Facebook Messenger chat.
Japan has also been concerned over an increasingly expansionist China, which has been claiming Senkaku Islands in the East China Sea.
The Japanese foreign ministry on Sunday night said Mr. Marcos and Mr. Kishida “concurred to continue coordination to reach an early conclusion of the negotiations of the Reciprocal Access Agreement.”
“Both sides are in mutual agreement that the RAA will not only be beneficial for the Philippines and Japan but also for the stability of the whole region. With such a level of convergence between the two countries, it is unlikely that negotiations will suffer from any delays or setbacks,” Don Mclain Gill, who teaches international relations at the De La Salle University, said in a Facebook Messenger chat.
Mr. Marcos told Mr. Kishida on Sunday that the possible reciprocal agreement will give Manila “greater capability in terms of not only security, but also in terms of disaster preparedness and alleviation.”
“That is something that really is very, very significant to us and will bring to us a greater capacity to maintain the peace in the South China Sea,” he said.
In early November, the two countries agreed to begin formal talks on the proposed RAA, which is similar to Manila’s Visiting Forces Agreement with the United States and the Status of Visiting Forces Agreement with Australia.
Japanese troops have been annually observing joint US-Philippine war games, most recently in October 2022.
Mr. Marcos and Mr. Kishida witnessed the signing of a memorandum of cooperation between the Japanese Coast Guard and the Philippine Coast Guard, which has been on the frontline of the Philippines’ efforts to protect its claims in the South China Sea.
The PCG was among the several agencies that received additional funding under the proposed P5.768-trillion 2024 national budget following a House of Representatives’ move to strip non-security departments of their confidential and intelligence funds.
PROVOCATION BY NORTH KOREA
Aside from China’s aggressive moves at sea, the Indo-Pacific region has also been beset by North Korea’s launching of missiles, including a long-range missile test on Dec. 17, which Mr. Marcos described as provocative.
“We join Japan, together with the rest of the ASEAN, in condemning the continued threat that the launching [of] ballistic missiles by the DPRK [Democratic People’s Republic of Korea] represents,” he said before delivering his speech at the meeting of Asia Zero Emission Community leaders at the Prime Minister’s Office in Tokyo, Japan, based on a press release from office.
Such “dangerous and provocative actions” by North Korea, Mr. Marcos said, “threaten and destabilize the region and the world.”
The alleged intercontinental ballistic missile — which was likely the third of the Hwasong-18 missile that North Korea also launched in April and July, flew about 1,000 kilometers from Pyongyang before landing in the waters between the Korean Peninsula and Japan, according to the military of South Korea, which was likely a target of the test following its moves to boost its nuclear deterrence plans with the United States. — Kyle Aristophere T. Atienza
SC gives Comelec, Rio 10 days to answer Smartmatic’s petition
By Jomel R. Paguian
THE SUPREME COURT (SC) ordered the Commission on Elections (Comelec) En Banc on Monday to file its comments on the Petition for Certiorari filed against them by Smartmatic TIM Corporation and Smartmatic Philippines, Inc.
The petition assailed the Comelec En Banc’s Nov. 29 Resolution which disqualified voting technology provider, Smartmatic, from participating in the bidding process for the automated election system for the 2025 national and local elections and in any election-related public bidding process.
Aside from Comelec, former information and communications technology chief Eliseo M. Rio, Jr., whose group filed a petition to ban Smartmatic was also ordered to submit their comments before the High Court within a non-extendible period of 10 days from notice. Augusto C. Lagman, Franklin F. Ysaac, and Leonardo O. Odoño were named together with Mr. Rio.
“The abovenamed respondents shall personally file with this Court and personally serve on the adverse parties their respective comments,” read part of the resolution.
Asked to comment on the development, Comelec Chairman George M. Garcia underscored that the SC has not issue an injunction on the poll body’s decision barring Smartmatic from its bidding process.
“The High Court found no compelling reasons to issue an injunctive writ to stall the implementation of our questioned resolution,” Mr. Garcia told reporters through Viber.
“Towards our consistent commitment to the directives of Supreme Court, the Commission on Elections shall fully comply with this Order with the assistance of the Office of the Solicitor General,” added Comelec spokesperson John Rex C. Laudiangco.
In a previous email, Smartmatic declined to comment on the ongoing case. “With due respect to the law and all parties involved, we cannot comment on pending legal cases,” it said.
Likewise, Mr. Rio refused to give any comment, citing sub judice rule.
A day after the release of the En Banc resolution, Mr. Garcia said Smartmatic’s petition before the Supreme Court is expected “at any moment.”
On the same day, Smartmatic said it was not given the opportunity to provide comments or respond to the grounds used by the commission ban the firm. “We are very confident that had Comelec informed us of the matter, allowed us to explain our side and present countervailing evidence, the unfair disqualification would not have been meted out.”
In its Nov. 29 ruling, the Comelec En Banc said that it is compelled to disallow Smartmatic from participating in the procurement process for automated elections forthwith, citing allegations related to bribery and a compromised procurement process in the 2016 national and local elections.
Comelec mentioned in their resolution the allegations revolving around former Comelec Chairman Juan Andres D. Bautista who allegedly received bribes in exchange for awarding a contract for Smartmatic during the 2016 elections.
4th coast guard modernization bill targets upgrades by 2025
By Beatriz Marie D. Cruz, Reporter
AMID recurring tensions with China in the South China Sea, Senator Sherwin T. Gatchalian has filed a bill seeking to modernize the Philippine Coast Guard (PCG) to make it a “world-class guardian of the sea” by 2025.
Senate Bill (SB) No. 2516 aims to create the PCG Modernization Trust Fund, which will be allocated a seed fund of P1 billion. While it is the fourth proposed measure filed to modernize the PCG, it proposes a shorter timeline for the acquisition and upgrading of coast guard technology, equipment, and other related facilities.
“With the advent of various maritime issues currently faced by the country from maritime disasters and incidents such as oil spills, ship collisions, and grounding to ongoing harassment in the West Philippine Sea, there is a need to continuously modernize and enhance the capabilities of the PCG to respond to all these incidents effectively,” Mr. Gatchalian said in a statement.
“It is imperative that our government provides the necessary support to have a responsive and well-equipped PCG with enhanced technical and legal capabilities in maritime safety, maritime security, maritime search and rescue, maritime law enforcement, and maritime environmental protection to ensure our maritime presence,” he added.
Three bills calling for the coast guard’s modernization are pending at the Senate national defense panel. SB 2016 sets a 15-year period to modernize the PCG, with a proposed budget of P50 billion.
SB 2307 also sets PCG modernization under a 15-year timeline, while SB 2112 indicates modernization should be done in 10 years.
The PCG has a proposed budget of P29.42 billion for next year.
It has been deploying vessels to escort boats conducting resupply missions to troops within the Philippines’ exclusive economic zone in the South China Sea.
Last week, China’s ships were captured on video aiming their water cannons at three Philippine vessels on a resupply mission to a military outpost at the Second Thomas Shoal.
DBM to release P5B to BARMM
THE DEPARTMENT of Budget and Management (DBM) has approved the release of P5 billion for development projects and rehabilitation of strife-torn areas in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
“The allocation — covering the Special Development Fund under the National Government’s provisions to Republic Act (RA) 11054 or Organic Law for BARMM — will be released annually for 10 years from the ratification of the Organic Law for BARMM, or a grand total of P50 billion,” the DBM said on Monday.
The DBM said the fund is intended for the “rebuilding, rehabilitation, and development of conflict-affected communities.”
For 2024, the government is proposing to provide P80.6 billion in financial aid to support the BARMM.
“The proposed budget incorporates the BARMM’s annual block grant of P70.5 billion; the Special Development Fund (SDF) of P5 billion; and the BARMM’s shares in national taxes, fees, and charges of P5.1 billion,” it added. — Luisa Maria Jacinta C. Jocson
Joma’s widow: No Reds surrender
THE NATIONAL Democratic Front of the Philippines (NDFP) negotiating panel’s interim chair, Juliet de Lima, widow of Communist Party of the Philippines (CPP) founding chairman Jose Maria “Joma” Sison, has flatly denied Defense Secretary Gilberto C. Teodoro, Jr.’s claim that the NDFP is ready to surrender.
In a statement to media on Monday, Ms. De Lima called Mr. Teodoro’s statement “simply untrue.”
“Teodoro sings out of tune compared to his GRP (Philippine government negotiating panel) colleagues and the joint statement signed last November 23,” she said, noting that “it was the GRP that who first approached the NDFP, not the other way around.”
Urging the GRP to refocus on substantive agenda items, Ms. De Lima emphasized that the government must tackle the draft Comprehensive Agreement on Social and Economic Reforms (CASER) to address the root causes of the civil war.
“Before discussing the cessation of hostilities, go back to the negotiating table and address the remaining agenda items under The Hague Joint Declaration,” she said. “The NDFP’s goal in peace negotiations is not capitulation but creating a space for discussing just and lasting peace.” — Artemio A. Dumlao
Peso weakens amid hawkish Fed comments
THE PESO depreciated against the dollar on Monday amid signals from a US Federal Reserve official that borrowing costs may need to remain elevated in 2024.
The local unit closed at P55.87 per dollar on Monday, weakening by 21.5 centavos from its P55.655 finish on Friday, Bankers Association of the Philippines data showed.
The peso opened Monday’s session sharply weaker at P55.80 against the dollar. Its intraday best was at P55.76, while its worst showing was at P55.875 versus the greenback.
Dollars exchanged went down to $798.7 million on Monday from the $846.7 million recorded on Friday.
The peso was dragged down amid signals from a Fed official that rates may need to remain high in 2024 to tame inflation, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
“The peso [weakened] after [New York Federal Reserve President John Williams] remarked that US policy makers did not discuss any rate cuts in their latest policy meeting,” a trader said in an e-mail.
Just days after a Federal Reserve meeting that penciled in an ample course of interest rate cuts next year, which in turn unleashed a broad rally in financial markets, one of the US central bank’s top policy makers pushed back on the ebullience on Friday, Reuters reported.
“We aren’t really talking about rate cuts right now,” New York Fed President John Williams said in an interview with CNBC. When it comes to the question of lowering rates, “I just think it’s just premature to be even thinking about that” as the central bank continues to mull whether monetary policy is in the right place to help guide inflation back to its 2% target, he said.
Mr. Williams was the first Fed official to speak in the wake of a policy meeting last week in which the central bank left its benchmark overnight interest rate unchanged in the 5.25%-5.5% range. With rates steady, the big shift in the Fed outlook was tied to projections of an easing of monetary policy next year.
Fed officials’ forecasts collectively priced in three-quarters of a percentage point in cuts in 2024, which would leave the policy rate in the 4.5%-4.75% range by the end of 2024. Those forecasts summarize the views of policy makers and are not an official Fed view, but they are nevertheless closely watched and the numbers helped spur sharp drops in bond yields while driving stock prices up.
The US central bank raised rates by a total of 525 basis points from March 2022 to July 2023.
For Tuesday, the trader said the peso could recover as the dollar could weaken due to hawkish bets on the Bank of Japan’s policy decision this week.
The trader sees the peso ranging from P55.70 to P55.95 per dollar on Tuesday, while Mr. Ricafort expects it to move between P55.75 and P55.95. — AMCS with Reuters
PSEi slips as investors pocket profits from rally
THE MAIN INDEX declined on Monday as investors pocketed their gains after the bellwether’s ascent to the 6,400 level late last week.
The benchmark Philippine Stock Exchange index (PSEi) went down by 2.94 points or 0.04% to end at 6,475.50 on Monday, while the broader all shares index climbed by 6.59 points or 0.19% to close at 3,416.14.
“The index closed slightly lower as selling pressure emerged in the 6,500 area. In terms of technicals, the market is nearly overbought after last week’s rally, so some traders have started to take profits,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.
“News flows were also not that favorable as US Federal Reserve officials tempered expectations of interest rate cuts next year,” Mr. Colet added.
AB Capital Securities, Inc. Vice-President Jovis L. Vistan said “initially positive momentum waned as the trading session drew to a close.”
“Local stock prices concluded marginally lower as the index confronted a technical resistance at around the 6,500 level. The market commenced with strength, buoyed by increasing optimism that global interest rates had topped out,” Mr. Vistan said in a Viber message.
Just days after a Federal Reserve meeting that penciled in an ample course of interest rate cuts next year, which in turn unleashed a broad rally in financial markets, one of the US central bank’s top policy makers pushed back on the ebullience on Friday, Reuters reported.
“We aren’t really talking about rate cuts right now,” New York Fed President John Williams said in an interview with CNBC. When it comes to the question of lowering rates, “I just think it’s just premature to be even thinking about that” as the central bank continues to mull whether monetary policy is in the right place to help guide inflation back to its 2% target, he said.
The PSEi finished the session almost flat as stocks consolidated, “with investors making moves ahead before the end of the year,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.
Sectoral indices were split on Monday. Industrials fell by 85.14 points or 0.95% to 8,878.28; financials dropped by 15.38 points or 0.89% to 1,705.19; and holding firms went down by 35.27 points or 0.55% to 6,359.89.
Meanwhile, property rose by 49.41 points or 1.75% to 2,860.79; services increased by 18.67 points or 1.19% to 1,582.53; and mining and oil went up by 13.13 points or 0.13% to 9,534.99.
Value turnover went down to P5.4 billion on Monday with 602.65 million issues changing hands from the P10.2 billion with 897.2 million shares on Friday.
Advancers outnumbered decliners, 100 against 77, while 46 names ended unchanged.
Net foreign buying rose to P625.25 million on Monday from P448.43 million on Friday.
AB Capital’s Mr. Vistan put the PSEi’s support at 6,300 and resistance at 6,530 for the rest of the week. — S.J. Talavera with Reuters
UNGA resolution questioned
THE EMBASSY of Israel in Manila questioned on Monday the United Nations General Assembly (UNGA) resolution calling for a humanitarian ceasefire between Israel and Hamas in Gaza, saying that the resolution is not reflective of the conditions “on-the-ground” in Israel.
This was after 152 countries, including the Philippines, recently voted in favor of the United Nations (UN) resolution calling for a humanitarian ceasefire between Israel and Hamas, including the unconditional release of all hostages.
“The political vote in the UN….is a political maneuver, which is initiated by some Arab countries supported by the Arab group, the Islamic group of countries by the non-allied movement, and by many countries but it doesn’t reflect what’s happening on the ground,” Israeli Ambassador to the Philippines Ilan Fluss told a news briefing.
Mr. Fluss noted that the resolution did not contain any condemnation of Hamas, including the Oct. 7 attack that killed more than 1,200 Israelis.
Israel launched waves of airstrikes in Gaza in retaliation after Hamas militants backed by waves of rockets stormed from the blockaded Gaza Strip into nearby Israeli towns on Oct. 7.
The Hamas-run Health Ministry in Gaza on Tuesday said at least 18,400 people have died in the war. At least four Filipinos died.
Grisha Yakubovich, a former member of the Israeli Defense Forces, said Hamas should be the first to implement the resolution before the Israeli forces would comply on the call for a ceasefire.
“If Hamas will implement this resolution, and release the people in captivity, we will implement that immediately, but let Hamas be the first, not us,” Mr. Yakubovich told the same briefing.
“We don’t need others to tell us to lead a war according to the international law [when] we have our values,” he added.
The Philippines in October abstained from a similar United Nations (UN) resolution that called for an immediate “humanitarian truce” in Gaza. The United States and Israel also voted no to the resolution, which was drafted by a group of 22 Arab countries.
A month later, the Philippines joined 144 countries in favoring a UN General Assembly resolution condemning Israeli settlements in Occupied Palestinian Territory including East Jerusalem and Syrian Gowan.
About 362 overseas Filipino Workers from Israel have returned to the Philippines, Migrant Workers officer-in-charge Hans Leo J. Cacdac said last week.
Israel and Hamas entered into a four-day truce last month, with the latter releasing more than 100 captives since then. Israel has freed more than 240 Palestinian prisoners in exchange. — Beatriz Marie D. Cruz
Int’l groups back transport strike
LABOR unions from foreign countries expressed support for Filipino jeepney drivers and operators on strike against the threat of a jeepney phaseout under the Public Utility Vehicle Modernization Program (PUVMP).
Pro-labor coalition Philippines Australia Union Link, along with its 12 member unions based in Australia, condemned the Land Transportation Franchising and Regulatory Board (LTFRB) for its refusal to defer the year-end deadline for franchise consolidation.
Likewise, the Gabungan Serikat Buruh Indonesia (Center of Indonesia Labor Struggle) expressed support for the recent transport strikes led by the Pagkakaisa ng mga Samahan ng Tsuper at Operator Nationwide (PISTON) and labor group Kilusang Mayo Uno (KMU).
“A just transition — not eliminating and oppressing workers’ rights, and not burdening students and other oppressed people with public transportation fare hikes,” it said in an Instagram post on Sunday.
In a one-page letter dated Dec. 15, which PISTON posted on its Facebook page on Sunday, the Union Link group said it supports the demand of labor and transport groups to junk the franchise consolidate requirement and repeal the entire PUVMP.
The modernization program “would result in the monopoly of a few big corporations who have the necessary financial capacity to comply with the larger capital need to ‘modernize’ and control public utility vehicle (PUV) routes,” said union secretary Peter Murphy in the letter.
PISTON and KMU led a two-day transport strike last week. Another transport group, Manibela said it will extend the strike to Dec. 29 until the government heeds their call to repeal the modernization program. — Jomel R. Paguian
Badoy, Celiz sued for ‘red-tagging’
FORMER party-list congressman Teodoro “Teddy” A. Casiño filed civil charges against Sonshine Media Network International (SMNI) hosts Lorraine Marie T. Badoy-Partosa and Jeffrey L. Celiz on Monday, claiming they were responsible for constantly “red-tagging” him in their TV program.
“They have been constantly spewing lies, aspersions, inciting ridicule and hate against me, my family, my fellow activists and our legitimate political beliefs and activities,” said Mr. Casiño, of Bayan Muna party-list.
In a 36-page complaint filed before the Makati City Regional Trial Court (RTC), he said the two used their TV program Laban Para sa Bayan (later renamed to Laban Kasama ang Bayan) to throw baseless accusations against him since its first episode on July 19, 2021.
“All of the above were lies woven by the defendants (SMNI hosts) in pursuit of their red-tagging and vilification agenda,” read part of Mr. Casiño’s complaint.
Citing an August 2022 episode, Mr. Casiño said he was accused of being an “urban operative” of the Communist Party of the Philippines (CPP), a member and national cadre of the CPP Central Committee, and a part of the National United Front Commission. Moreover, the former lawmaker said he was accused of working in an underground movement for youth recruitment to the New People’s Army (NPA) in Aklan.
He said he was also accused of going to the United States as part of the CPP underground operations in a Nov. 7, 2022 episode.
Mr. Casiño also cited in his complaint a May 23 episode where Ms. Badoy-Partosa reportedly insinuated him of having “blood on his hands,” implying that he was responsible for killings, particularly of children recruited into the NPA.
In a transcript provided in the petition, the SMNI host allegedly said in the TV program, “Teddy Casiño is the cause for the deaths of our children… he is a top recruiter of a terrorist organization that has destroyed our country… and that has stolen our children from us.” — Jomel R. Paguian