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Comelec asked to decide on Marcos

PHILSTAR FILE PHOTO

Martial law victims have asked the Commission on Elections (Comelec) to resolve a a lawsuit that seeks to bar the son and namesake of the late dictator Ferdinand E. Marcos from running for president this year. 

Delaying the case could lead to complications, especially with the May 9 elections nearing, they said in a six-page motion. 

“The failure to resolve the instant petition would cause complications in that the votes cast for the respondent may be included in the counting and in the canvassing,” they said through lawyer Christian S. Monsod, a former Comelec chief and a constitutional framer. 

“Further, if the evidence of guilt is strong, as in this case, his proclamation shall be suspended notwithstanding the fact that he received the winning number of votes in such election,” they added. 

The plaintiffs also cited a Comelec order issued on Feb. 23, which says that upon the retirement of a commissioner, other members of the body must resolve pending cases within 45 days. 

The election body has reorganized its divisions after its former chairman and two commissioners retired last month. 

The plaintiffs earlier asked Comelec to bar ex-Senator Ferdiand “Bongbong” R. Marcos from the presidential race after he was convicted for tax evasion in the 1990s. 

The election body’s Second Division rejected a similar petition in January, as it ruled Mr. Marcos did not mislead the public when he said in his certificate of candidacy that he was eligible to run for president. The case is on appeal with the Comelec en banc. 

The First Division last month rejected three consolidated lawsuits seeking to disqualify Mr. Marcos from the presidential race, as it ruled that his failure to file his tax returns in the 1980s did not involve wicked, deviant behavior. The case is also on appeal with the en banc. 

The cases against Mr. Marcos that are on appeal before the en banc had been raffled off to a writer and would resolved before May 9, acting Comelec chief Socorro B. Inting said earlier. 

Meanwhile, Comelec has partnered with a nonpartisan group to educate the  Filipino youth and first-time voters before the May 9 elections. 

It signed a deal with Democracy Watch Philippines, which will offer virtual seminars and lectures to inform these voters on elections issues, according to a video of the event streamed live on Facebook. 

Different universities and non-government groups will participate in providing these lectures.— John Victor D. Ordoñez 

COVID cases fewer than 1,000 for 3rd day

The Philippines posted 853 infections on Friday — the third straight day the tally fell below 1,000 — bringing the total to 3.67 million.  

The death toll hit 56,770 after 232 more patients died, while recoveries rose by 1,062 to 3.56 million, it said in a bulletin. 

It said 4.3% of 25,496 samples from March 2 tested positive for COVID-19, which is within the World Health Organization’s threshold. 

Coronavirus tests in February were lower than in January, when the heavily mutated Omicron variant spurred a spike in infections. 

Of 50,8230 active cases, 450 did not show symptoms, 45,300 were mild, 2,773 were moderate, 1,411 were severe and 296 were critical. 

DoH said 92% of new cases occurred on Feb. 19 to March 4. The top regions with cases in the past two weeks were Metro Manila with 170, Calabarzon with 128 and Central Visayas with 94 infections. It added that 2% of new deaths occurred in March and 7% in February. 

Eleven duplicates were removed from the tally, five of which were reclassified as recoveries, while 219 recoveries were relisted as deaths. Two laboratories failed to submit data on March 2. — Kyle Aristophere T. Atienza 

Pacquiao promises free housing

MANNY PACQUIAO OFFICIAL FACEBOOK PAGE

Senator and boxing champion Emmanuel “Manny” D. Pacquiao on Friday said he would give the poor free housing if he becomes president. 

“I want each Filipino to have their own house,” he said in a statement in Filipino. “That’s why I asked for your signatures, so you could be given a free house.” 

Meanwhile, Willie T. Ong, the running mate of presidential bet Francisco “Isko” M. Domagoso, said candidates participating in debates should undergo a lie detector test..

“Any question from A-Z is fine. If you know it, answer it. If you don’t, say you’ll look into it. No one is perfect,” he said in a statement in Filipino. “What’s important is that a candidate isn’t lying. Are they corrupt? If you want, we can use a lie detector.” — Jaspearl Emerald G. Tan

Three cops in drug war face murder charges

PHILIPPINE STAR FILE PHOTO

Government prosecutors have endorsed the indictment of three policemen for the killing of a Spanish national in a buy-bust operation. 

In a statement on Friday, the Office of the Prosecutor General said the cops would be charged with murder and planting evidence at a Surigao del Sur trial court. 

The cops claimed the  Spaniard drew a gun and shot them, which caused the three to fire back and kill him during a buy-bust operation on Jan. 8, 2020. 

Forensic data provided by the National Bureau of Investigation disproved the claim of a shootout during the incident, the Office of the Prosecutor General said in the statement.  

The incident is one of the 52 cases in which suspected drug pushers died in President Rodrigo R. Duterte’s war on drugs.  

Philippine prosecutors have filed charges in court against law enforcers in four of the cases and plan to investigate 250 more of what could have been wrongful deaths in the government’s anti-illegal drug campaign, Justice Secretary Menardo I. Guevarra told the United Nations Human Rights Council this week. 

“The Philippines will remain positively engaged with the international community and all human rights mechanisms on all issues concerning rule of law and institutions in the country,” he said. “But we will draw the line between parties that engage in good faith, and those that abuse and exploit these mechanisms to make demands of accountability with little or no factual basis.” — John Victor D. Ordoñez

D&L’s new plant moves start of operations to 2023

Food ingredients maker D&L Industries, Inc. is pushing back the start of commercial operations of a plant in Batangas to January 2023, citing recent events that caused disruptions.

The plant, under the company’s unit Natura Aeropack Corp. (NAC), was expected to begin commercial operations in May 2022, but was granted an extension by the board of the Philippine Economic Zone Authority (PEZA).

In a stock exchange disclosure on Friday, D&L said, “in consideration of the recent turn of events such as the Omicron-related surge in COVID-19 cases early this year, global port congestion and supply chain disruptions, as well as longer-than-expected processing of registration and licenses, PEZA has granted [an] extension to January 2023.”

NAC is one of the subsidiaries of D&L undertaking the expansion in Batangas, specifically for the manufacture of coconut oil fractions and coconut base surfactants, and downstream consumer products.

“While the pandemic has posed challenges to the completion of our Batangas plant, this expansion is coming at an opportune time given the strong demand for high value coconut-based products in the export market,” D&L President Alvin D. Lao said in a press release.

“This is evidenced by the resilient and robust growth in our export sales which grew 55% year-on-year in the first nine months of 2021. As the world moves beyond this pandemic, this plant will help us cater to emerging, relevant industries where we see opportunities for new growth. Our existing capacity is still sufficient to serve requirements in the near term, as such the extension in the SCO should have no material impact on current operations,” he added.

NAC and D&L Premium Foods Corp. (DLPF), another wholly owned subsidiary of D&L Industries in Batangas, will start commercial operations concurrently. DLPF will manufacture food ingredients to cater to a growing export business.

D&L’s expansion is on a 26-hectare property in First Industrial Township Special Economic Zone in Batangas.

The ongoing expansion, referred to as Phase 1, will occupy roughly half of the property and costs P6.2 billion, with remaining capital expenditures at P1.8 billion for the year.
In September, D&L executed its maiden bond offering, raising P5 billion to help fund the remaining capex for the expansion.

The new plant will develop high value-added coconut-based products and add the capability to manufacture downstream packaging.

“With near-term catalysts such as the continued economic reopening and the boost from election spending, the company sees room for further earnings growth,” the company said.

In the third quarter of 2021, D&L’s attributable net income rose 34% to P768 million from P572.6 million in 2020.

From January to September last year, attributable net income grew 57.4% to P2.16 billion from P1.37 billion in 2020.

At the stock exchange Friday, D&L shares closed unchanged at P8 each. — Luisa Maria Jacinta C. Jocson

PLDT’s Pangilinan: January profit picture better than last year despite Odette

MANUEL “MANNY” V. PANGILINAN

PLDT Inc. Chairman Manuel V. Pangilinan said the company saw “encouraging” numbers at the start of 2022 despite typhoon Odette’s impact on its operations in the Visayas and Northern Mindanao.

The company said that additional costs incurred as a result of the typhoon are expected to be booked in the first quarter of 2022, including repair or restoration costs incurred following the last quarter of 2021.

“But the overall profit picture is better than last year, so there is continuing growth,” Mr. Pangilinan said during a briefing on Thursday, referring to the month of January.

“Part of the reason is that growth in our opex (operating expenses) is typically slow in the initial months of the year; but overall, the  January results are quite encouraging,” he added.

PLDT Chief Finance Officer Anabelle L. Chua said: “Certain areas in the Visayas were quite badly hit and that included poles toppled down and electricity not quite being restored, so we kind of felt the aftermath of that.”

“There is a bit of impact on our ability to really ramp up to the level we want because of these unforeseen events, but that is something that we are managing,” she added.

The company saw its fourth quarter revenues decrease slightly quarter on quarter by 1% to P12.5 billion, dampened by rebates of around P400 mbillion given to its Home customers due to the impact of the typhoon.

PLDT’s net income for 2021, which includes exceptional costs, grew by P2.1 billion or 9% to P26.4 billion

The company’s total service revenues for 2021 went up 6% to P182.1 billion from P171.5 billion in 2020.

Revenues from the company’s consumer and enterprise segments increased 7% to P176.1 billion from P165.3 billion.

Its telco core income, which excludes the impact of asset sales and Voyager Innovations, Inc., rose 8% to P30.2 billion last year from P28.1 billion in 2020.

EBITDA, or earnings before interest, taxes, depreciation, and amortization, reached P96.2 billion in 2021, up 8% from P88.8 billion previously.

PLDT has set its capital expenditure (capex) guidance for 2022 at P76 billion to P80 billion, lower than the P89 billion capex last year.

“We are determined to strengthen our financial standing as we focus on generating positive free cashflow,” Mr. Pangilinan said.

PLDT shares closed 1.09% higher at P1,850 apiece on Friday.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

Atlas Mining income surges on better output, metal prices

Atlas Consolidated Mining and Development Corp. on Friday reported P3.86 billion in net income last year, or more than 32 times higher than P118 million a year earlier, due to stable production and higher metal prices.

“The turnaround of Atlas Mining is credited to a resilient and stable operation that was sustained over the years with a disciplined focus on safety and efficiency,” Atlas Mining President Adrian S. Ramos said in a statement, adding that these factors enabled the company “to survive the market downturn and to optimize earnings in a resurgent commodities market.”

The company said metal prices stayed high last year, with the average price of copper rising by 52.7% to $4.26 per pound, while gold rose 1.4% to $1,802 per ounce.

Atlas Mining’s wholly owned subsidiary, Carmen Copper Corp., reported higher copper production and shipments in the second half of 2021 due to “improvements in copper head grades and recovery.”

Copper metal production in the second half of the year increased 13% to 43.68 million pounds from 38.73 million pounds. Gold increased 25% to 13,997 ounces from 11,716 ounces.

However, copper production decreased year on year to 82 million pounds from 107.09 million pounds in 2020. Gold also declined to 25,173 ounces from 47,857 ounces.

Earnings before interest, tax, depreciation, and amortization was P9.77 billion for the year, 10% higher than P8.92 billion in 2020. Core income in 2021 rose to P3.28 billion, up 26.6% from P2.59 billion in the previous year.

“Atlas Mining continues to strengthen its overall financial position supported by its improving earnings, efficient operations and robust metal market,” the company said.

At the stock exchange, Atlas Mining shares increased by 37 centavos or 5.01% to finish at P7.75 on Friday. — Luisa Maria Jacinta C. Jocson

SKY Fiber eyes growth in user base via budget-friendly offerings

source: www.mysky.com.ph

SKY Fiber, the broadband internet service brand of ABS-CBN Corp.’s subsidiary Sky Cable Corp., is hoping to expand its user base through broadband options intended for budget-conscious consumers.

“While the proliferation of broadband options is beneficial for consumers, choosing the right plan for their daily needs is proving to be a challenge. And, more often than not, there would be a trade-off in terms of price, speed, reliability, or overall service,” James A. Dumlao, SKY’s head of consumer product, programming, and airtime group, said during a virtual media briefing on Friday.

Alan C. Supnet, head for consumer broadband products at SKY, said that budget-conscious consumers “tend to settle for low-cost plans with an unreliable connection, while those concerned about a poor internet connection go for mega high-speed plans but end up paying exorbitant fees.”

SKY Fiber said this issue could be addressed through fast speed options bundled with a WiFi Mesh device, which is used to improve internet signal distribution throughout the home.

“For P1,699 per month, subscribers can… get the Plan 50Mbps (megabits per second), which has boosted speeds of up to 75Mbps until the end of April and two free WiFi Mesh devices,” it noted.

SKY Fiber is currently available in Metro Manila, Bulacan, Rizal, Cavite, Laguna, Batangas, Baguio, Cebu, Dumaguete, Bacolod, Iloilo, Davao, General Santos, and Zamboanga.

Unlimited broadband plans with higher speeds include Plan 100Mbps (P2,299/month), Plan 150Mbps (P2,799/month), and Plan 200Mbps (P3,499/month).

The company also has basic plans of up to 20Mbps (P999/month) and 30 Mbps (P1,299/month).

At the same time, it offers cable TV bundled plans with speeds of up to 40Mbps (P1,699/month), 80Mbps (P2,499/month), and 150Mbps (P2,999/month), which come with a WiFi Mesh device. — Arjay L. Balinbin

Axelum says its carbon footprint down by 20%

Coconut products exporter Axelum Resources Corp. said it had reduced its direct greenhouse gas emissions by up to 20% in 2021 as part of its effort to enhance the company’s climate change resiliency.

“Our climate action response forms a major part of our inclusive sustainability agenda. Aligned with the goals of the Paris Agreement, we enacted a proactive approach to contribute to mitigating the effects of global warming. For Axelum, this is just the beginning of a long-term commitment to advancing sustainable development for the benefit of the next generation,” Axelum Chairman Romeo I. Chan said in a statement on Friday.

In 2020, Axelum implemented methodologies and standards set by the Department of Environment and Natural Resources to measure its greenhouse gas output.
The company installed equipment to regulate electricity voltage supply and limit dependence on diesel-powered generators.

For 2022, Axelum plans to invest in a solar energy facility for its Medina plant in Misamis Oriental.

“This is reflective of a progressive mindset to deeply integrate the value of sustainability in the context of our business,” Mr. Chan said.

Axelum produces, manufactures, and exports coconut products including coconut water, desiccated coconuts, coconut milk powder, coconut milk and cream, reduced fat coconut, sweetened coconut, and coconut oil.

In the third quarter of 2021, its attributable net income increased 44.5% to P260.3 million from P180.2 million the year before.

From the January to September period, attributable net income rose 51% to P578.7 million from P383.1 million in 2020.

At the stock exchange Friday, Axelum shares increased P0.09 or 3.45% to finish at P2.70 apiece. — Luisa Maria Jacinta C. Jocson

Greenpeace backs creation of global treaty against plastic

STOCK PHOTO | Image by Hans Braxmeier from Pixabay

An environmental group on Friday sees an end to plastic production after the United Nations adopted a resolution that will mandate the creation of the legally binding treaty by 2024 to put an end to plastic pollution, especially in developing countries.

“This resolution spells the beginning of the end to decades of corporate-led indiscriminate and irresponsible plastic production that has created the plastic pollution crisis we face today,” Greenpeace Zero Waste Campaigner Marian Frances T. Ledesma said in a statement.

“The ambitious mandate establishes good parameters for negotiations for a strong, comprehensive plastics treaty which prioritizes humankind and the earth,” she added.

The international community has adopted the resolution on “End plastic pollution: Towards an international legally binding instrument,” during the fifth session of the UN Environment Assembly in Nairobi, Kenya on March 2.

Ms. Ledesma said the Philippines “will have a rallying point to call for drastic measures to cut down on production and start a just transition” with the support mechanisms in the mandate such as technical and financial assistance.

Greenpeace also called for the national and local governments to pass a nationwide ban on single-use plastics with orders to reduce its production.

“Likewise, local governments can align themselves to the global ambition by promoting reuse and refill systems, and opposing waste-burning technologies,” the group said.
Earlier, World Wildlife Fund for Nature (WWF) Philippines urged local governments and port authorities to align on plastic ban.

In July, lawmakers at the House of Representatives unanimously approved on final reading House Bill No. 9147 or the Single-Use Plastic Products Regulation Act, which aims to put a halt on the production single-use plastics. The Senate counterpart measure is pending.

In November 2021, the international Finance Corp. said the proportion of recycled plastics in the country is about 30%, with the unrecycled materials valued at around $1 billion yearly. — Marielle C. Lucenio

Local shares dip on weaker peso, gov’t debt

BW FILE PHOTO

Shares slipped on Friday after the peso depreciated and the government’s report of a record-high P12-trillion national debt.

The benchmark Philippine Stock Exchange index (PSEi) fell by 46.08 points or 0.62% to close at 7,342.01, while the broader all shares declined by 22.90 points or 0.58% to close at 3,895.52.

“The PSEi [was] lower today after the peso exchange rate weakened versus the US dollar to the weakest in more than two years or since October 9, 2019,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a text message.

On Friday, the Philippine peso closed at P51.74, weaker than Thursday’s P51.50 per dollar.

“The PSEi [was] also lower today after outstanding national government debt posted new record highs, but offset by lower-than-expected inflation data,” Mr. Ricafort added.

The Bureau of the Treasury reported that the National Government’s total outstanding debt stood at P12.03 trillion as of end-January. For January, total debt increased by 2.6% to P301.12 billion due to domestic and external debt.

“Philippine inflation came out this morning better than expected for February at 3.0% and was able to tame some of the selling,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

On Friday, the Philippine Statistics Authority reported that headline inflation stayed at 3% in February, recording the same annual growth rate as in January. Inflation in February 2021 was posted at 4.2%.

“Higher prices of major global commodities as Russia’s war with Ukraine continues despite the second round of talks and upcoming third round of talks, thereby could aggravate the disruptions in the global supply chains and could lead to higher inflation, slow down economic recovery prospects, narrow profit margins, and valuations, amid increased sanctions on Russia that could reduce global trade, transactions, and payments,” Mr. Ricafort said.

Mr. Limlingan said investors would continue to monitor the Russia-Ukraine crisis, despite declining volatility in energy and bond markets.

Majority of sectoral indices ended in the red on Friday, except for mining and oil, which gained by 53.63 points or 0.40% to 13,327.07, and property, which rose by 3.91 points or 0.11% to 3,498.54.

Meanwhile, holding firms slid by 89.68 points or 1.25% to 7,060.32, industrials went down by 104.97 points or 1.03% to 10,076.44, services contracted by 9.76 points or 0.49% to 1,958.73, and financials retreated by 2.97 points or 0.17% to 1,688.71.

Value turnover decreased to P5.22 billion or 1.33 billion shares changing hands from P8.26 billion or 1.82 billion shares on Thursday.

Decliners outnumbered advancers, 102 versus 89, while 44 names closed unchanged.

Foreigners turned net sellers on Friday with P164.23 million from P489.15 million in net buying seen the previous trading day.

Mr. Ricafort placed major support at 7,100 to 7,200 to “help preserve the underlying upward trend over the past two to three months.” — Luisa Maria Jacinta C. Jocson

Quad leaders agree Ukraine experience should not be allowed in Indo-Pacific

An MH-60R Sea Hawk helicopter launches during flight operations aboard the US Navy aircraft carrier USS Ronald Reagan in the South China Sea, July 17, 2020. — US NAVY/MASS COMMUNICATION SPECIALIST 2ND CLASS CODIE L. SOULE/HANDOUT VIA REUTERS.

TOKYO/WASHINGTON — Leaders of the Quad grouping of countries — the United States, India, Australia, and Japan — agreed on Thursday that what is happening to Ukraine should not be allowed to happen in the Indo-Pacific, the prime ministers of Japan and Australia said.

A virtual meeting of the four-country grouping was held at a time of increased concern about Taiwan, a self-ruled island claimed by China that has stepped up its alert level since Russia’s invasion of Ukraine, wary of Beijing taking advantage of a distracted West to move against it.

“We’ve agreed that unilateral changes to the status quo with force like this should not be allowed in the Indo-Pacific region,” Japanese Prime Minister Fumio Kishida said, referring to Russia’s invasion.

“We’ve also agreed this development makes it even more important to work toward realizing a free and open Indo-Pacific,” Mr. Kishida told reporters after the meeting with US President Joseph R. Biden, Jr., Australian Prime Minister Scott Morrison, and Indian Prime Minister Narendra Modi.

“We cannot allow what is happening in Ukraine now to ever happen in the Indo-Pacific,” Mr. Morrison said in a statement after the meeting.

“We are resolute in our commitment to a free and open Indo-Pacific region where smaller states do not need to live in fear of more powerful ones,” he added.

A joint Quad statement said the leaders met to “reaffirm their commitment to a free and open Indo-Pacific, in which the sovereignty and territorial integrity of all states is respected and countries are free from military, economic, and political coercion.”

The leaders, whose call followed a meeting of their foreign ministers in Australia last month, also “reaffirmed their dedication to the Quad as a mechanism to promote regional stability and prosperity.”

The statement, which added that the leaders agreed to meet in person in Tokyo “in the coming months,” made no specific mention of Taiwan, but said the leaders discussed the conflict and humanitarian crisis in Ukraine.

“They agreed to stand up a new humanitarian assistance and disaster relief mechanism which will enable the Quad to meet future humanitarian challenges in the Indo-Pacific and provide a channel for communication as they each address and respond to the crisis in Ukraine,” it said.

Mr. Biden tweeted that the meeting with the Quad leaders covered “our commitment to sovereignty and territorial integrity around the world, including in the Indo-Pacific.”

Taiwan’s representative office in Washington said it welcomed the Quad’s commitment to a free and open Indo-Pacific. “Taiwan will continue to work with all peace-loving partners in the region for prosperity and stability,” it said.

Mr. Modi “underlined that the Quad must remain focused on its core objective of promoting peace, stability and prosperity in the Indo-Pacific region,” his office said.

It said developments in Ukraine were discussed, including its humanitarian implications, and Mr. Modi “emphasized the need to return to a path of dialogue and diplomacy.”

Washington sees the Quad and its growing relations with India as essential to its efforts to push back against China, but it is in a delicate balancing act with New Delhi, given the latter’s long-standing ties with Russia.

Of the Quad countries, only India has not condemned Russia’s invasion of Ukraine. Russia is the main supplier of arms to the Indian military, and India faces the possibility of US sanctions for its purchase of Russia’s S-400 air defense system.

Analysts say any moves by US Russia hawks to impose sanctions on India for working with Moscow could set back Quad cooperation.

Donald Lu, US assistant secretary of state for South Asia, told a Senate subcommittee hearing on Wednesday that Washington had been fighting a “pitched battle” with India in diplomatic channels to urge it to take a clear position opposed to Russian actions in Ukraine.

He also said it was looking “very closely” at whether to apply sanctions on India over its Russian arms deals. — Kiyoshi Takenaka, David Brunnstrom, and Michael Martina/Reuters

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