Home Blog Page 5992

Supreme Court orders AMLC to disclose bank records in 2009 chopper purchase case

PHILSTAR FILE PHOTO

THE SUPREME Court has affirmed the anti-graft tribunal’s order for the Anti-Money Laundering Council (AMLC) to disclose bank records related to the Philippine National Police’s procurement of secondhand choppers in 2009.

The case involves former first gentleman Jose Miguel T. Arroyo, who was charged with plunder for his involvement in the PNP’s purchase of helicopters that he allegedly owned.

The High Court said that it dismissed AMLC’s motions asking it to void and review the Sandiganbayan’s subpoena compelling the anti-money laundering council to disclose its records of Lionair, Inc. (Lionair), which sold the helicopters as brand new even if they were already used.

“In sum, there was no showing that the Sandiganbayan gravely abused its discretion in issuing the Subpoena Duces Tecum and Ad Testificandum and denying petitioner’s Motion to Quash and Motion for Reconsideration,” the court said in a press release on Thursday.

“Instead of avoiding compliance with the Subpoena, petitioner must firmly perform its mandate as an investigatory body and independent financial intelligence unit,” the Supreme Court said.

The high tribunal said the AMLC had argued that whatever information it has on Lionair’s bank account is confidential under Republic Act No. 9160, or the Anti-Money Laundering Act.

However, the Sandiganbayan denied the AMLC’s motions, ruling that its misgivings on the disclosure of the bank records were outweighed by the importance of the documents.

“The High Court found the AMLC’s argument untenable,” it said.

The Supreme Court further said that based on RA 9160, the AMLC “is not one of the covered institutions prohibited from disclosing information on covered and suspicious transactions.”

The rationale behind the prohibition does not apply to the AMLC, it added.

The Court said that “the criminal prosecution of anti-money laundering offenses would be unduly hampered if petitioners were prohibited from disclosing information regarding covered and suspicious transactions.”

In a July 11, 2011 press release from the Department of Interior and Local Government, which has jurisdiction over the police, it said that based on documents, “the two choppers were previously owned by the Asian Spirit, Inc. in 2004, leased later to the Lionair Corporation, but mysteriously sold by the Manila Aerospace Products Trading Corporation to the PNP as brand new in July 2009. The two choppers were delivered, after inspection by a PNP inspection panel, on Feb. 12, 2010.”

“Two of the PNP’s choppers were used extensively by members of the former First Family and their friends, including some lawmakers, before they were sold as brand new to the police agency in July 2009,” the department said.

Several police officers were fired over the deal. — Kyle Aristophere T. Atienza

2GO Travel says most destinations on network now accept tourists

FACEBOOK.COM/2GOTRAVEL/

2GO GROUP, Inc.’s 2GO Travel on Thursday said 90% of the destinations on its network now accept tourists.

“Fully vaccinated travelers with vaccination cards and certificates can enter Batangas, Caticlan, Butuan, Cagayan de Oro, Cebu, Dumaguete, Iloilo City, Manila, Negros Occidental province, Ozamis, and Roxas without the swab test requirement,” 2GO Travel said in an e-mailed statement.

The company also said the Tourism department, through the Tourism Promotions Board, has a financial subsidy program for “qualified domestic tourists traveling to destinations requiring [coronavirus] test requirements.”

Application for the free RT-PCR test program is done through www.tpb.gov.ph/rtpcrphtravel/.

The government has increased the allowable carrying passenger capacity of passenger ships to 70% earlier this month.

“To date, 95% of our vessel crew are fully vaccinated against [the coronavirus]. Nevertheless, we encourage all our passengers to follow safety protocols from check-in, boarding to disembarkation, and to travel safely and responsibly,” 2GO said.

2GO Group also announced on Thursday the resignation of its chief operating officer, Waldo C. Basilla, citing “personal reasons.”

“The board is reviewing and will disclose management update in due course,” 2GO told BusinessWorld in a phone message when asked who would replace Mr. Basilla. — Arjay L. Balinbin

Cebu’s Bantayan Island now has 24-hour power supply with new plant

BANTAYAN ISLAND, a tourist destination located off the northwestern side of Cebu, will now have 24-hour electricity supply with the completion of a new 23-megawatt power plant owned by Isla Norte Energy Corp. (INEC).

“These engines… will provide the power Bantayan Island needs today and the years to come,” INEC President and Chief Executive Officer Emil Andre Garcia said during Wednesday’s inauguration ceremony streamed on the Cebu provincial government’s Facebook page.

INEC, a joint venture of Vivant Energy Corp. and Gigawatt Power, Inc., will deliver the supply from the diesel-fired plant to the island’s distributor, Bantayan Electric Cooperative (BANELCO).

The 15-year Power Supply Agreement is pending approval by the Energy Regulatory Board, but INEC was granted a 90-day provisional authority to operate last month to help address the constant rotational brownouts on the island, according to the provincial government.

“I am happy because this comes right on time when we are trying to bring back a crippled economy, an economy that was devastated because of the restrictions of COVID-19 (coronavirus disease 2019),” Cebu Gov. Gwendolyn F. Garcia said during the launch.

The island, with its beaches and ecotourism sites, is composed of three towns: Bantayan, Sta. Fe, and Madridejos. It has an average power demand of 8.5 megawatts.

A renovated airport with capacity for commercial flights was completed last year.

The Bantayan Airport was rehabilitated and expanded through a partnership between the Cebu provincial government and the Mactan Cebu International Airport Authority.

Gov’t breaks ground on Manila subway’s Camp Aguinaldo Station

PHILSTAR

THE DEPARTMENT of Transportation and the Department of National Defense on Thursday broke ground on the Metro Manila Subway Project’s Camp Aguinaldo Station.

Pre-construction works prior to the main construction of the Camp Aguinaldo Station include the “replication works of affected living quarters and medical gas storage, and rehabilitation of [a] warehouse,” the Transportation department said in a statement.

The project is a 36-kilometer rail line that is expected to reduce travel time between Quezon City and the Ninoy Aquino International Airport from one hour and 30 minutes to just 30 minutes.

The Transportation department has said the Metro Manila Subway Project is expected to start excavation activities in the first quarter of 2022.

The government broke ground on the first three stations in Feb. 2019 after the Transportation department signed a P51-billion deal with the Shimizu joint venture, which consists of Shimizu Corp., Fujita Corp., Takenaka Civil Engineering Co. Ltd., and EEI Corp.

While the public will have to wait until 2025 for full operations of the 17-station subway, the government is planning to launch partial operations, covering the first three stations by 2022. — Arjay L. Balinbin

Indonesia to award PHL Defense chief for rescue of 8 kidnapped fishermen

INDONESIA is conferring a peace medal to the Philippine’s head of national defense for the rescue of eight Indonesian fishermen kidnapped by the Islamic State-linked Abu Sayyaf group in 2019.

Defense Secretary Delfin N. Lorenzana will be the first Filipino to receive the Medali Perdamaian or Medal of Peace, to be given by Indonesian President Joko Widodo.

The House of Representatives’ Committee on Foreign Affairs approved a resolution Thursday allowing Mr. Lorenzana to accept the recognition.

Under the 1987 Philippine Constitution, government officials would need approval from Congress before receiving awards, presents, office, or title from any foreign government.

Foreign Affairs Assistant Secretary Nathaniel G. Imperial told the committee that the acceptance of the award would help cement bilateral ties between the Philippines and Indonesia.

The two countries, which are geographically closest through the Philippine’s Sulu province and Indonesia’s Sulawesi, have been conducting joint sea activities, including security trainings, in the Celebes Sea.

“It will be a great honor for Secretary Lorenzana to be the first ever Filipino to receive the prestigious Medal of Peace from no less than the president of Indonesia in recognition of his stewardship and leadership on rescue of Indonesians,” Mr. Imperial said.

He also asked the committee to grant similar approval for former Armed Forces of the Philippines chief Cirilito E. Sobejana and the rescue team who are expected to receive the same award from Mr. Widodo. — Russell Louis C. Ku

Solons call for election debates before end of the year

A RESOLUTION was filed at the House of Representatives urging the Commission on Elections (Comelec) to start holding debates before the end of the year for top national positions to give voters more time to know their candidates’ qualifications and platforms.

House Resolution 2346, filed on Thursday by seven lawmakers led by Taguig-Pateros Rep. Alan Peter S. Cayetano, suggests that Comelec hold at least five debates from Dec. 2021 to April 2022 with all presidential candidates.

It also proposes for the poll body to hold at least 15 weekly debates where two presidential candidates will be invited in each discussion.

“Debates will further serve as basis for accountability of elected officials and allow a safer way of information dissemination during this pandemic,” according to the resolution.

Comelec Spokesperson James B. Jimenez said last month that three face-to-face debates will be held for both presidential and vice-presidential candidates. — Russell Louis C. Ku

Dela Rosa says anti-communist fund needed for economic, social projects

SENATOR Ronald M. dela Rosa sought the return of the P28-billion original allocation of an ad hoc anti-communist task force in the 2022 budget, saying it is needed to roll out economic and social programs in remote communities to fully address the roots of insurgency.

“Even though we are able to kill the last insurgent, but the root cause of (the) insurgency which is poverty and social injustice brought about decades of government neglect is not addressed, nothing will happen for our problem,” Mr. Dela Rosa, a former police chief and presidential candidate, said Thursday during Thursday’s plenary session.

Senator Juan Edgardo “Sonny” M. Angara, chair of the Senate finance committee, agreed with Mr. Dela Rosa’s position but reiterated that the problem is not the program per se but the task force’s failure to submit timely reports on its utilization of this year’s P19.3-billion budget.

Under the Senate version of the 2022 national budget, the National Task Force to End Local Communist Armed Conflict’s (NTF-ELCAC) allocation was cut to P4 billion.

“Even the best programs on paper must be justified by the implementation,” said Mr. Angara, noting that if there is proof of good implementation then increased funding would not be a problem.

“In fact, we even left P4 billion despite not knowing, this is a blind allocation in effect,” he added.

The NTF-ELCAC fund is supposedly distributed to local governments for projects in areas that are declared free from communist insurgents.

Senate Minority Leader Franklin M. Drilon said these projects are just “duplications of the various department’s mandates.”

CLIMATE FUND

Meanwhile, the amount allocated to implement climate change initiatives needs to be increased, said Senator Francis N. Tolentino, citing that it may not be enough to fulfill the country’s international commitments.

“The Philippines plans to lead climate change response and mitigation but its budget is miniscule,” he said during the plenary session.

He noted that the Climate Change Commission only received a P140-million allotment, down from P237 million in 2016.

Mr. Angara, however, pointed out that there is a provision in the 2022 proposed budget that earmarks P284.5 million for each line agency’s climate change expenditures, including departments such as Agriculture, Foreign Affairs, Energy, among others.

He added that there would also be special-purpose funds that would tackle the adaption and mitigation of climate change.

Mr. Tolentino said it would still be insufficient in supporting the commitments made by Finance Secretary Carlos G. Dominguez III at the 2021 United Nations Climate Change Conference (COP26), since it was only 5.5% of the national budget.

“The climate change summit will end tomorrow, and there will be commitments and signing activities that would implicate not just promissory initiatives on the part of the Philippine government but real tangible commitments, such as the budgetary making process,” Mr. Tolentino said.

“I endeavor the career members of the Cabinet economic cluster to take that in mind as you move along even though this is a swan song, that there will be commitment to have a net-zero greenhouse gas emissions target by 2050,” he said. — Alyssa Nicole O. Tan

Peso weakens as US consumer price index hits multi-year high

The peso retreated versus the greenback on Thursday following faster than expected US inflation.

The local unit closed at P50.165 per dollar on Thursday, depreciating by 9.6 centavos from its P50.069 finish on Wednesday, data from the Bankers Association of the Philippines showed.

The peso opened Thursday’s session weaker from its previous close at P50.18 per dollar. Its worst showing was at P50.24, while its intraday best was at P50.13 against the greenback.

Dollars traded increased to $1.14 billion on Thursday from $1.016 billion on Wednesday.

The peso dropped from its previous close due to elevated consumer inflation in the US, a trader said in an e-mail.

The US Labor department on Wednesday reported the consumer price index rose 0.9% last month, Reuters reported. This brought the annual increase in the consumer price index to 6.2%, which was the biggest since November 1990.

Losses at the local stock market also caused risk-off sentiment in the currency market, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

For Friday, Mr. Ricafort gave a forecast range of P50.05 to P50.25, while the trader expects the local unit to move within P50.05 to P50.30 per dollar. — LWTN with Reuters

PHL shares drop as US inflation hits 31-year high

Philippine Stock Exchange index

LOCAL STOCKS continued to decline on Thursday on concerns after US consumer prices in October posted their biggest annual gain in more than 30 years.

The 30-member Philippine Stock Exchange index (PSEi) lost 44.03 points or 0.59% to close at 7,331.65 on Thursday, while the broader all shares index shed 11.63 points or 0.29% to 3,952.90.

“The PSEi corrected lower for the second straight day, after pre-pandemic highs… partly on the latest inflation concerns that could eat into the income or profit of consumer and businesses, including listed companies, that could also narrow profit margins at the same time,” Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a Viber message.

US consumer prices accelerated in October as Americans paid more for gasoline and food, leading to the biggest annual gain in 31 years, more signs that inflation could stay uncomfortably high well into 2022 amid snarled global supply chains, Reuters reported.

The consumer price index jumped 0.9% last month after climbing 0.4% in September, the US Labor Department said. The largest gain in four months hoisted the annual increase in the consumer price index to 6.2%. That was the biggest year-on-year rise since November 1990 and followed a 5.4% advance in September.

“The markets also anticipate the Nov. 15 deadline for substitution of candidates belonging to the same party… as well as progress on the timely 2022 national budget, which would help further sustain the economic recovery prospects through increased government spending especially on infrastructure to prevent the risk of a reenacted budget,” Mr. Ricafort added.

Investors also continued to price in the country’s latest gross domestic product data, First Metro Investment Corp. Head of Research Cristina S. Ulang said in a separate Viber message.

All sectoral indices closed in the red on Tuesday except for services, which went up by 0.97 point or 0.04% to finish at 2,005.71.

Meanwhile, property dropped 45.32 points or 1.35% to 3,312.74; mining and oil went down by 63.73 points or 0.64% to 9,848.8; industrials lost 60.80 points or 0.55% to finish at 10,858.67; financials gave up 8.69 points or 0.53% to 1,607.69; and holding firms declined by 30.93 points or 0.43% to 7,054.47.

Value turnover declined to P7.52 billion with 1.02 billion issues traded on Thursday, lower than the P11.16 billion with 1.17 billion shares seen the previous day.

Decliners beat advancers, 97 against 91, as 47 names closed unchanged.

Foreigners turned sellers with P755.58 million in net outflows on Thursday from the P517.29 million in net purchases recorded on Wednesday.

For Friday, Ms. Ulang expects “bargain hunting to emerge on high hopes for looser restrictions under Alert Level 2” before shifting to Alert Level 1. — Keren Concepcion G. Valmonte with Reuters

Kai Sotto, Adelaide 36ers to face the Perth Wildcats in NBL opener

Adelaide 36ers fb page

KAI Sotto will now face a different team in his debut with the Adelaide 36ers following changes on the National Basketball League (NBL) regular season schedule next month.

Instead of testing the mettle of new team Tasmania JackJumpers, Sotto and the 36ers will pay a visit at the RAC Arena in Perth to clash with the stacked Wildcats on Dec. 3 for the main game of the NBL twin-bill opener.

Perth (25-11) finished second to NBL champion Melbourne United last season, making it a tall order for Adelaide that settled for a 13-23 record in seventh place.

After Perth, the 36ers then host the Illawarra Hawks on Dec. 5 at the Adelaide Entertainment Center to cap off their opening week.

The NBL said it opted to tweak the original schedule released last month to prioritize more fans in game venues after restrictions last season.

Adelaide will be under the watch of new mentor CJ Bruton, who replaced Conner Henry in the offseason.

But first, Mr. Sotto will get a taste of NBL action in the Blitz preseason games starting this weekend when Adelaide battles the Cairns Taipans at the MyState Bank Arena in Tasmania.

Mr. Sotto and Adelaide will also collide with Perth, Tasmania and the Brisbane Bullets in the NBL Blitz slated to run until Nov. 28.

The 7-foot-3 Filipino sensation is hoping to impress in his international pro league debut in the NBL for his ultimate goal of making it to the NBA down the road.

Jovin Bedic, Kaya FC Iloilo blank Mendiola FC, 6-0

KAYA Futbol Club fb page

JOVIN Bedic fired a brace to power Kaya FC Iloilo to a comprehensive 6-0 win over Mendiola FC 1991 and Group B top seeding going into the semis of the Philippines Football League (PFL) Copa Paulino Alcantara Wednesday in Carmona, Cavite.

Mr. Bedic opened scoring in the 10th and 35th minutes then Ryo Fujii (40’), Kenshiro Daniels (63’), Daizo Horikoshi (71’), and Carlyle Mitchell (90+2’) joined the fray to seal Kaya’s two-game sweep of group action.

The Iloilo-based booters, who beat the Azkals Development Team (ADT) in Sunday’s kickoff match, 2-0, will face Group A No. 2 Dynamic Herb Cebu in the knockout semis.

“The players are getting better game by game and we hope to keep this good form in the semifinals,” said Kaya coach Yu Hoshide.

Mendiola and the ADT, meanwhile, will dispute the second semis spot in their Group B faceoff tomorrow. Winner of this matchup will battle Group A topnotcher Stallion Laguna FC.

Stallion took the No. 1 in the bracket after beating Cebu last Wednesday, 1-0.

Senegalese Abou Sy delivered an early strike then the Laguna-based squad fended off the Cebuanos’ final stand despite playing with 10 men in the last 19 minutes of play to get it done. — Olmin Leyba

Bernardo beats Bangladeshi foe and jumps to no. 7 in para world chess championship

FREEPIK

DARRY Bernardo overpowered Ejaz Husain of Bangladesh in 25 moves of a seldom used Colorado Counter to carry the country’s fight following stinging defeats by countrymen Sander Severino and Jasper Rom after six rounds of the World Chess Championship for People with Disabilities on Wednesday.

Mr. Bernardo, a member of the Far Eastern University team that won the UAAP gold medal two years ago, outplayed Mr. Husain in the opening where the former emerged a queen up to snare the full point and leapfrog to a group at No. 7 with five points apiece.

Russian Stanislav Babarykin led the way with a perfect six points followed by a five-player group with 5.5 points each.

Mr. Bernardo was clashing with top seed Grandmaster Marcin Tazbir of Poland, a former world champion for people with disabilities, in the seventh round at press time.

He overtook Severino and Rom, who absorbed painful defeats to Ganbat Dashtseren of Mongolia in 60 moves of an English Opening and Zarko Selkovski of Macedonia in 42 moves of a Sicilian duel, respectively.

Severino and Rom were stuck with four points in this nine-round tournament.

Henry Lopez likewise stayed in the hunt as he dumped Luis Anibal Rodriguez Pirela of Venezuela in 45 moves of a Dutch Defense to hike his total to 4.5 points.