Phivolcs proposes community-based landslide warning system for Cotabato

February 12, 2020 | 8:30 pm

THE PHILIPPINE Institute of Volcanology and Seismology (Phivolcs) is eyeing to install an early warning system (EWS) in landslide-prone areas in Cotabato, one of the provinces at the foot of Mt. Apo and the most affected by the series of strong earthquakes that struck Mindanao last year. The EWS will be a community-managed program to give local leaders more immediate access to information for faster disaster management decisions. The provincial government, in a statement, said representatives of Phivolcs, which is under the Department of Science and Technology, presented the Dynaslope Project: Early Warning System for Deep-Seated Landslides last Tuesday to Governor Nancy A. Catamco and Carlito Villaraza, a geologist and structural earthquake engineer.

REBUILDING
Meanwhile, the Cotabato Rebuilding Program was launched Tuesday afternoon, starting with the earthquake-affected families in Barangay Ilomavis, Kidapawan City. During the ceremony, shelter materials for 435 partially and totally damaged houses were distributed along with the release of scholarship certificates, livelihood assistance kits, and other social service interventions. The rebuilding program is led by the Provincial Rehabilitation Task Force in partnership with the multi-sector Mindanao Humanitarian Team.

Davao Oriental’s P22B anti-insurgency program gets regional approval

February 12, 2020 | 8:30 pm

A P22-billion program intended to address the communist insurgency in Davao Oriental has been approved at the regional level, and the big-ticket projects will be endorsed for national funding, the provincial government announced earlier this week. “Our problem with insurgency basically stems from poverty and the absence of government services in the hinterland areas… We have to prioritize livelihood and accessibility. The sooner we address these issues, the sooner we solve the problem of insurgency,” Governor Nelson L. Dayanghirang said in a statement on Monday. Davao Oriental’s proposed projects include infrastructure development, livelihood, and training, which were identified through workshops with representatives up to the barangay level. “This proposal is a result of our needs assessment and workshops which helped us in really knowing what the priority needs of the barangays really are,” Mr. Dayanghirang said. Budget Secretary Wendel E. Avisado, the designated Cabinet officer for Regional Development and Security (CORDS) for Davao, said the projects that can already be funded by national agencies and the local government may be rolled out immediately while the big-ticket items are awaiting assessment and approval. Davao Oriental province has received recognition for its programs to encourage members of the New People’s Army, the armed groups of the Communist Party of the Philippines, to lay down their arms. These programs were initiated before President Rodrigo R. Duterte issued a directive in December 2018 establishing the “whole-of-nation approach” to end the communist armed conflict. Under this policy, local governments will lead multi-agency bodies that will plan and implement localized anti-insurgency projects.

3 Koreans, 8 Japanese wanted for fraud arrested

February 12, 2020 | 8:30 pm

THREE KOREANS and eight Japanese who are all wanted for fraud in their countries have been arrested in different parts of Luzon, the Bureau of Immigration (BI) reported on Wednesday. Commissioner Jaime H. Morente, in a statement, said the three Koreans, who are wanted in Seoul and facing charges of large-scale fraud and embezzlement, were caught in separate operations. Arrested on Feb. 4 in Quezon City was Kim Moo Gyo, 35, who is charged for involvement in telecommunications fraud with his victims losing more than a billion won or over $840 million. Nabbed on the same day in Taguig City was Kim Saehyun, 27, for illegally operating an online gaming business and committing telecom fraud. On Feb. 10, Wi Seong Don, 72, was also arrested for multiple counts of fraud and embezzlement charges. On Feb. 11, the eight Japanese nationals allegedly involved in voice phising and telecom fraud and extortion were arrested in Laguna. BI Fugitive Search Unit chief Bobby R. Raquepo said the Japanese have been targeting their fellow Japanese nationals and many of their victims are retired citizens. All 11 foreigners are detained at the facility in Taguig City while awaiting deportation. — Vann Marlo M. Villegas

Tacloban to Samar cities

February 12, 2020 | 8:28 pm

TEN new public utility buses that will serve the Tacloban City-Calbayog City route and 15 public utility coasters for Tacloban-Catbalogan City were launched Feb. 12 as part of the government’s Public Utility Vehicle Modernization Program (PUVMP). Tacloban is the regional center of Eastern Visayas while Calbayog and Catbalogan are under the neighboring Samar province, with the latter as the capital. The 25 vehicles are equipped with speed limiters, GPS, CCTV, WiFi, and an automated fare collection system.

Making cancer care more accessible and comprehensive

February 12, 2020 | 9:05 am

As the battle against cancer continues around the world, leveling up cancer services is a primary solution seen to address the increasing burden of the deadly disease.

The latest report of the World Health Organization (WHO) on cancer titled “Setting Priorities, Investing Wisely, and Providing Care for All”, noted that in 2018, 18.1 million people around the world had cancer, and 9.6 million died from the disease. By 2040, the figure will nearly double, and the greatest increase will come from low- and medium-income countries, where more than two-thirds of the world’s cancers are projected to occur. Worse, these areas currently have the lowest survival rates.

“In 2020, when one in five people globally will face a cancer diagnosis during their lifetime and as gains against infections and other conditions have led to increased life expectancy, it is beyond time to accelerate global cancer control, through prevention, diagnosis, treatment and management, palliative care and surveillance,” WHO’s report stressed.

In terms of cancer services, the contrast was seen between high-income and low-income countries. WHO shared in a statement that in 2019, less than 15% of low-income countries reported that comprehensive treatment services for cancer were available in the public health system compared more than 90% of high-income countries.

For Dr. Ren Minghui, assistant director-general for Universal Health Coverage/Communicable and Noncommunicable Diseases of WHO, this should wake up the global community to tackle such inequalities. “If people have access to primary care and referral systems, then, cancer can be detected early, treated effectively, and cured. Cancer should not be a death sentence for anyone, anywhere,” Dr. Minghui added.

As WHO continuously embarks on its quest, WHO Director-General Dr. Tedros Adhanom Ghebreyesus sees hope in addressing such disparity, and consequently save many lives from the attack of cancer. “At least 7 million lives could be saved over the next decade, by identifying the most appropriate science for each country situation, by basing strong cancer responses on universal health coverage, and by mobilizing different stakeholders to work together,” Dr. Ghebreyesus said in a statement.

WHO stated it will implement steps of proven interventions to prevent new cancer cases. These include: controlling tobacco use, which is responsible for 25% of cancer deaths; vaccinating against hepatitis B to prevent liver cancer; eliminating cervical cancer by vaccinating against HPV; screening and treatment; implementing high-impact cancer management interventions that bring value for money; and ensuring access to palliative care including pain relief.

Cancer management, considered as more complex than those of other diseases, has advanced through time — from immunotherapy to radiotherapy. Pushing this further forward, WHO highly recommends nations that a multidisciplinary team, which the organization regards as the “the cornerstone of integrated, patient-centred care”, should deliver these diagnostic and therapeutic approaches.

Palliative care, the aim of which is to “prevent and relieve suffering during all phases of serious health problems,” is also highlighted by WHO’s report as a vital part of cancer management.

The World Health Assembly, WHO added, has called for universal access to palliative care as a necessary step towards universal health care. “With more than 50 million cancer survivors currently alive, attention must be paid to their long-term health needs and reintegration into society and the workplace.”

Among other advancents in cancer care, palliative care has been seen as a rising trend, as Washington Post reported last year. It was observed that through palliative care, patients can undergo treatment “as gently as possible”, with a wide range of activities such as mind-body practices, massage, stress and symptom management, cognitive behavioral therapy, as well as weight loss, alcohol, and exercise counseling.

Palliative care, therefore, assists cancer patients beyond their condition. It takes into consideration the entire well-being of the patient, especially the mental aspect, which could be largely affected upon the inception of cancer as well as throughout the treatment.

“There’s a growing awareness that if we take care of how people are feeling, they will be better able to focus on treatment,” Jeremy Hirst, a palliative psychiatrist at Moores Cancer Center at UC San Diego Health, was quoted as saying. “We find that validating people’s experiences by giving them the space to talk about the nightmare of a cancer diagnosis and how the experience steals so much of their life helps their physical symptoms improve.” — Adrian Paul B. Conoza

Philippine trade year-on-year performance (December 2019)

February 12, 2020 | 12:33 am

EXPORTS of Philippine goods grew at its fastest pace in more than two years in December, narrowing the country’s trade deficit to a six-month low amid a continued decline in imports, the Philippine Statistics Authority (PSA) reported on Tuesday. Read the full story.

Trade gap narrows in December

February 12, 2020 | 12:33 am

Preliminary PSA data showed the value of merchandise exports picked up by 21.4% annually to $5.74 billion in December — the fastest since July 2017’s 21.9% — compared to a revised 12.2% year-on-year decline to $4.73 billion recorded in December 2018.

December export figures drove the full-year tally to $70.33 billion, up 1.5% from the $69.31 billion in 2018’s comparable 12 months and surpassing the one percent growth target set by the Development Budget Coordination Committee (DBCC) for 2019.

Meanwhile, merchandise imports were valued at $8.22 billion in December, down 7.6% from $8.90 billion in the same month in 2018. Imports have been declining for nine straight months since April.

The import bill for 2019 amounted to $107.37 billion, down 4.8% from the $112.84 billion and falling short of the DBCC’s two-percent target set for the year.

This caused the trade-in-goods deficit in December to end at $2.48 billion from $4.17 billion in the same month in 2018. This was the lowest trade gap since June 2019’s $2.37-billion shortfall.

Cumulatively, the trade deficit reached $37.05 billion last year, smaller than the $43.53-billion gap in January-December 2018.

By commodity group, exports of manufactured goods — which accounted for 84% of the total overseas sales — grew by 19.2% to $4.82 billion. Exports of electronic products, which made up around 60% of total merchandise exports in December, rose 24.9% year-on-year to $3.44 billion. Semiconductors, which made up 76.8% of electronics, grew 31.8% to $2.64 billion.

Similarly, exports of petroleum products grew by 278.2% to $24.85 million, followed by those of mineral products (+80.2% to $365.03 million), forest products (+32.8% to $25.24 million), and agro-based products (+21.5% to $419.39 million).

On the other hand, declines were observed in the import of raw materials and intermediate goods (-19.9% to $2.62 billion), capital goods (-2.2% to $2.92 billion), and consumer goods (-1.8% to $1.37 billion). Among these commodity groups, only the imports of mineral fuels, lubricant and related materials grew, expanding by 6.5% to $1.26 billion during the period.

“The December 2019 export performance came from a low base back in the same period of 2018. This, however, also indicates a potential pick-up of exports, as trade perception improved with the potential signing of a US-China ‘phase one’ trade deal back in October 2019. This uptick is also consistent with manufacturing production growth improvements registered in January 2020,” UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in an e-mail.

“On the other hand, December 2019 import performance continued to be sluggish with a very slight improvement month-on-month. Note that imports have been challenged since December 2018 with its initial negative annual growth. This was aggravated by the non-passage of the 2019 budget that forced infrastructure spending to contend with a re-enacted budget,” he added, noting that infrastructure spending has fueled much of the growth in imports previously.

OUTLOOK FOR 2020
Economists expect exports to pick up and imports to recover this year, but also noted risks to this outlook.

Mr. Asuncion said the country’s export performance this year is “well anticipated to recover” as the phase one trade deal signed between the US and China last month is seen to help improve global trade sentiment.

“However, with the recent outbreak of the novel coronavirus (2019-nCoV) in the heart of China’s manufacturing hub and its various consequences (such as the Hubei Province lockdown, factory closures, tighter seaports and airports, etc.), trade with China… will be challenged until the virus outbreak is largely contained,” Mr. Asuncion said.

Meanwhile, Mr. Asuncion said merchandise imports are expected to “bounce back strong” given the timely passage of this year’s national budget and the approval of the extension of the 2019 budget’s validity until the end of 2020.

This assessment was shared by Security Bank Corp. Chief Economist Robert Dan J. Roces in a separate e-mail: “Recovery should take place faster as the fiscal budget for 2020 and 2019 operate simultaneously. Raw materials linked to construction activities will nudge the import side, while the electronics sector should see increased orders for exports on catch up activities.”

He said the trade gap for the first quarter of 2020 could be “substantially smaller… on the back of supply chain disruptions from the 2019-nCoV epidemic to reflect a general slowdown in activity.”

“The recent 25-basis-point cut by the Bangko Sentral ng Pilipinas will also continue revitalizing investment activity that bodes well for capital goods imports and consumer durables,” Mr. Roces added.

Meanwhile, in a research note on Tuesday, Nomura Holdings, Inc. Chief ASEAN Economist Euben Paracuelles said he expects the country’s current account deficit to widen to 3.2% of gross domestic product this year from last year’s estimate of 1.2% despite the surprise narrowing in the trade-in-goods deficit in December.

“Our forecast remains underpinned by stronger domestic demand, particularly higher investment spending which, in turn, is led by a further roll-out of public infrastructure projects. This has been a key driver of import demand in recent years,” Mr. Paracuelles said.

Mr. Paracuelles also noted the pickup in electronic exports in December. “However, we believe that the coronavirus outbreak is throwing a spanner in the works and making the recovery of the electronics sector less certain.”

In a statement from the National Economic and Development Authority, Socioeconomic Planning Secretary Ernesto M. Pernia on Tuesday stressed the need for the government to step up efforts against downside risks posed by health- and climate-related hazards that could affect the country’s trade sector.

“The impact of the novel coronavirus could escalate if plant closures related to the production of automotive and electronic parts negatively affect the country’s exports receipts as this accounts for about a third of the country’s outward shipments to China,” Mr. Pernia was quoted in the statement as saying. — Jobo E. Hernandez

Fitch upgrades PHL outlook to ‘positive’

February 12, 2020 | 12:32 am

FITCH RATINGS on Tuesday upgraded its outlook for the Philippine economy to “positive” from “stable,” bolstering hopes for a rating upgrade.

Fitch also maintained the country’s credit rating at “BBB” — a notch above minimum investment grade — which it received in December 2017.

“The outlook revision reflects Fitch’s expectations of continued adherence to a sound macroeconomic policy framework that will support high growth rates with moderate inflation, progress on fiscal reforms that should keep government debt within manageable levels and continued resilience in its external finances,” the global ratings agency said in a note sent to reporters.

A positive outlook indicates that a “rating could stay at its present level or potentially be upgraded.”

The Philippines is likely to be among the fastest-growing economies in the Asia-Pacific region this year and 2021, “well above the current ‘BBB’ median,” Fitch said.

It projects Philippine economic growth at 6.4% and 6.5% this year and 2021, picking up from last year’s 5.9% growth but lower than the government’s 6.5% to 7.5% target.

“(The growth is) supported by strong private consumption and rising public infrastructure investment. Overseas remittance inflows and favorable job prospects, evident from a falling unemployment rate, alongside accommodative monetary policy should support continued private consumption demand,” Fitch said.

On the other hand, the on-going novel coronavirus outbreak poses downside risks to growth.

“It is still early to evaluate the effects of the outbreak, but the economy appears somewhat less vulnerable than regional peers as tourism accounts for less than 3% of GDP. In addition, the Philippines retains room in our view for monetary and fiscal easing to offset the potential short-term impact on growth,” Fitch said.

Fitch also expects the economy’s fiscal profile to improve, backed by continued tax reforms that would generate higher revenues for the government. The recently enacted sin tax law is expected to raise government revenues to about 16.9% of the gross domestic product (GDP) this year, from an estimated 16.7% in 2019.

The ratings agency also cited the Philippines’ improved ranking of 94^th in the latest Ease of Doing Business Index from 124^th a year prior.

“The government’s recent decision to review certain contracts with private companies may create some uncertainty, but Fitch believes the overall business environment will be unaffected, and FDI (foreign direct investment) flows remain strong for the time being,” it added.

Sought for comment, BSP Governor Benjamin E. Diokno said via mobile phone message: “If we do the right things, do the needed structural reforms, and maintain or improve the present macroeconomic outlook, the Philippines has a pretty good chance of having another upgrade within 18 to 24 months.”

For his part, Finance Secretary Carlos G. Dominguez III said the government “looks forward to the further alignment of its credit ratings to its level of creditworthiness as indicated by a decreasing debt-to-GDP ratio and positive economic prospects from record investment levels in infrastructure and human capital.”

In 2019, debt-to-GDP ratio slightly improved to 41.5%, from the 41.8% seen in 2018.

Last week, Japan-based Rating and Investment Information Inc. (R&I) upgraded the Philippines’ credit rating to “BBB+” from “BBB,” citing the country’s positive growth performance, healthy fiscal conditions and its infrastructure development drive.

S&P Global Ratings upgraded the country to a rating of “BBB” in 2019, while Moody’s keeps a “Baa2” rating — a notch above investment grade — for the Philippines. — Luz Wendy T. Noble

European Commission says administration’s drug war, death penalty are ‘serious concerns’

February 12, 2020 | 12:31 am

By Jenina P. Ibañez

THE European Commission has raised “serious concerns” about President Rodrigo R. Duterte’s war on drugs, attacks on human rights defenders and his plan to restore capital punishment.

The commission also listed the country’s shrinking civil society space and a plan to lower the minimum age of criminal responsibility as issues in its GSP+ report released in Brussels on Monday.

The Generalized Scheme of Preferences (GSP+) is an incentive agreement where 6,274 products enjoy zero-tariff entry to the European Union (EU) provided the country follows 27 core international conventions that include human and labor rights, environmental protection and good governance.

The report called the possible return of the death penalty for drug offenders “a worrying development” and would violate an international protocol ratified by the Philippines in 2007.

The draft bill reducing the age of criminal responsibility to 12 years from 15 would also go against international standards, the commission said in a report posted on its website.

“Persistent ongoing concerns since the last GSP report are the reports of thousands of extrajudicial killings of people allegedly involved in drug trade and use and the lack of proper investigation,” according to the report.

On the other hand, the Philippines had made some progress in fighting poverty, hunger, joblessness and in protecting the environment.

The government has passed legislation on biodiversity conservation and has been tackling corruption, it said.

The Philippines maintained ratification of all 27 GSP+ conventions and fulfilled its reporting obligations except for racial discrimination, according to the biennial report covering 2018 to 2019.

The country was also delayed in four environmental conventions — international trade of endangered species, climate change, biosafety and the production and use of persistent organic pollutants.

The report said the country had slowly increased its use of GSP+ preferences to 26% of its total exports to the EU in 2018.

This places the Philippines at the lower end among beneficiary countries. Bangladesh placed 96.4% of its exports to the EU under GSP+, followed by Cambodia at 94.9%.

The country’s use of GSP+ compared with all eligible exports was 73.1%, compared with 74% in 2017 and 71.2% in 2016.

Philippine exports that benefit from GSP+ include coconut oil, preserved tuna, bicycles, pineapple products, fruit jams and some garments and footwear.

“The Philippines’ main exports to the EU under GSP+ are relatively diversified, with significant portions of animal or vegetable oils and fats, electrical equipment and foodstuffs,” according to the report.

The GSP+ monitoring mission included a visit to Manila and Cebu in late 2018.

Philippine Exporters Confederation, Inc. President Sergio Ortiz-Luis said he was not worried about losing the preferential treatment after the commission relayed its concerns, noting that these had been mentioned before.

The country, however, must improve its usage rate, he said. “Our use of the GSP+ has been limited. It’s not the same as our neighbors.”

Mr. Ortiz-Luis said exporters especially in the garment sector, which is dominated by small businesses, should get more funding.

Ser Percival K. Peña-Reyes, an economist at the Ateneo de Manila University, said the EU does not figure prominently in Philippine trade statistics.

But the country must diversify its revenue sources because remittances and outsourcing revenues are threatened by the US-China trade war and artificial intelligence, he said in a mobile phone message.

“So if the EU is lowering the barriers for our exports, then why not take advantage of that?” Mr. Reyes said. “It’s the practical thing to do. EU could be a large export market for our agricultural products.”

Exports to the European Union fell by 7.8% to $8.22 billion in 2019 from a year earlier, accounting for 11.68% of total Philippine exports, according to Philippine Statistics Authority data.

IMF says Q1 GDP likely at 6.3%

February 12, 2020 | 12:30 am

THE International Monetary Fund (IMF) expects the Philippine economy to grow by 6.3% in the first three months of 2020, despite the coronavirus outbreak’s impact on tourism.

“Our annual growth rate forecast [for 2020]…is 6.3% so we expect the quarter growth to be around that range…,” IMF Resident Representative to the Philippines Yongzheng Yang said in a briefing held at the central bank on Tuesday.

The IMF maintained the growth outlook of 6.3% for the Philippines this year.

Last year, the country’s average growth was at 5.9%, higher than the 5.7% forecast by the IMF but lower than the government’s target of at least six percent.

Mr. Yang said the Philippines is “not immune” from the negative impact of the coronavirus outbreak.

“I think the major sector that comes to my mind would be tourism. China is the epicenter of this outbreak and travelling from China is now mostly as I understand stopped to this country. China is one of the largest sources of tourism for the Philippines so that is going to be negatively affected and will certainly have negative impact on the economy,” he said.

Mr. Yang also flagged the virus outbreak’s impact on the global value chain which is seen to affect the Philippines.

Preliminary estimates by the National Economic and Development Authority (NEDA) last week showed the spread of the coronavirus may hurt economic growth by 0.3% if it continues until June, or as much as 0.7% if the virus lingers until December. But if the outbreak will only be felt for one month, the impact on GDP will only be at 0.06%.

However, Mr. Yang noted that the central bank’s move to cut interest rates could somehow cushion the effects.

“The central bank here has already taken action by reducing the interest rate by 25 basis points (bps) last week and that is a good response… There’s a lot of uncertainty going on and this situation will be watched very closely to see how the world responds,” he said.

As for the Taal Volcano eruption, Mr. Yang said that while agricultural production and tourism were affected, its impact on the economy “seems to be relatively small.

According to IMF’s assessment stated in its Staff Report released last week, the central bank still has policy space to opt for a more expansionary policy stance when downside risks emerge.

From a GDP growth forecast of 6.3% in 2020, the multilateral body gave a 6.4% and 6.5% growth outlook for the Philippines for 2021 and 2022.

Mr. Yang said challenges to the implementation of the government’s infrastructure programs could pose risks to further economic expansion, adding that “the remaining infrastructure programs are more complex and challenging to implement.”

“Therefore in order to achieve more investment flows, we need to tackle the underlying structural impediments. These efforts should include ..improving the planning and implementation capacity especially at the local government level,” he added. — Luz Wendy T. Noble

High court asks ABS-CBN to comment on SolGen’s move to cancel its franchise

February 12, 2020 | 12:09 am

THE Supreme Court (SC) asked ABS-CBN Corp. and its unit ABS-CBN Convergence, Inc. to comment on the petition of the state’s top lawyer to cancel the Lopez-led network’s franchise, as lawmakers stepped in to assert their authority over franchises.

SC Public Information Office Chief Brian Keith F. Hosaka told reporters in a mobile-phone message that the companies were given a “non-extendible period” of 10 days from receipt of notice to file their comment.

He said the order to comment also pertains to the prayer of Solicitor General Jose C. Calida to issue a temporary restraining order against the operation of pay-per-view KBO Channel of ABS-CBN Convergence’s TV Plus, an encrypted digital terrestrial television provider.

No TRO is issued to KBO Channel for now, the spokesperson confirmed when asked.

Mr. Calida on Monday filed a quo warranto petition against ABS-CBN to have its franchise canceled for allegedly violating several laws, including foreign ownership, and “highly abusive practices.”

The petition came weeks before ABS-CBN’s franchise expires on March 30.

Eleven bills in the House of Representative and one in the Senate were filed for the extension of ABS-CBN’s franchise.

The solicitor-general said the network allowed foreign investors when it issued Philippine depositary receipts to foreigners, similar to what online news site Rappler did, which he claims to be a violation of the Constitution.

Mr. Calida said the network went beyond what was allowed by its franchise by “broadcasting for a fee” through the KBO Channel feature of TV Plus without the approval of the National Telecommunications Commission.

He also claimed that ABS-CBN Convergence committed “ingenious corporate layering scheme” for the transfer of its franchise without congressional approval and for failing to publicly offer its shares in the Philippine Stocks Exchange within five years since the start of its operations, which is required in its franchise.

ABS-CBN in a statement on Monday said that it complied “with all pertinent laws governing its franchise and has secured all necessary government and regulatory approvals for its business operations.”

President Rodrigo R. Duterte previously claimed the network failed to air his campaign ads for the May 2016 national elections.

Vice-President Maria Leonor G. Robredo said the process of the franchise renewal of ABS-CBN should be monitored.

“Kaya mahalagang bantayan ang kasalukuyang panggigipit sa prangkisa ng ABS-CBN dahil higit sa lahat tungkol ito sa kapangyarihan: Sino ang magtatakda ng totoo at ng mahalaga? Kapag sinamsam ng gobyerno ang kapangyarihang ito, sinasamsam din nila ang kolektibong tungkulin nating kilatisin ang katotohanan,” she said in a statement.

(It is important to watch closely the pressure in the renewal of the ABS-CBN’s franchise because this is about power: Who will dictate the truth and what is important? If the government seizes this power, it also seizes our collective responsibility to scrutinize the truth.)

“Linawin natin: Taliwas sa karaniwang proseso ng pag-renew ng prangkisa ang nangyayari. Panggigipit ito, ayon sa pansariling agenda ng iilang nasa poder. Samakatuwid: Pang-aabuso ito ng kapangyarihan,” she said.

(It is clear: the franchise renewal happening is contrary to the normal process. This is harassment, in line with the agenda of those in power. Therefore: It is an abuse of power.)

She urged those in Congress authorized to renew franchises to join in protecting press freedom.

Senator Franklin M. Drilon said the petition of the Office of the Solicitor General will become moot and academic if the franchise is not renewed, with barely 50 days until the franchise of ABS-CBN expires.

“Now, if the Congress will grant the franchise, it must be Congress which will hear of the arguments of the alleged violation of the existing franchise and take this into account in renewing or not renewing the franchise of ABS-CBN. The jurisdiction is with Congress at this point,” he said in a chance interview.

Meanwhile, Senate President Vicente C. Sotto III said ABS-CBN may continue its operation despite the franchise’s expiration as long as a bill is pending in the 18^th Congress.

“Even provisional authority is not necessary because as long as there is a pending franchise, or pending bill for extension of franchise, they are deemed extended,” Mr. Sotto, who chaired the Committee on Public Services in the 10^th Congress, said in a briefing.

He said the termination will take effect if the franchise is not renewed by 2022. “If it is not approved until March of 2022, that is the only time that it is terminated.”

Mr. Sotto said he might initiate a call to convene the small Legislative-Executive Development Advisory Council (LEDAC) to discuss the franchise with their counterparts “hopefully next week.”

“We haven’t been called into the mini-LEDAC, but perhaps it’s just proper that I initiate it already para magkaalaman na (to settle the issue).”

He said he wants to be clarified whether the Senate can expect an ABS-CBN franchise bill to be transmitted.

Franchise bills, like the revenue and appropriations measures, have to emanate from the House of Representatives.

Mr. Drilon, however, said ABS-CBN has to cease operations if Congress fails to grant the 25-year extension.

“They need a franchise to operate,” he said in a separate briefing, Tuesday. — Vann Marlo Villegas, Genshen L. Espedido and Charmaine A. Tadalan

CIP majority stake sold to Unioil-led firm, other investors

February 12, 2020 | 12:08 am

LISTED Chemical Industries of the Philippines, Inc. (CIP) has sold a majority of its stake to a group that includes a company owned by the Unioil Group, Inc.

In a disclosure to the stock exchange Tuesday, CIP said it had been notified by the group of buyers that they had “crossed the sale of the company’s 5,865,500 common shares through the facilities of the Philippine Stock Exchange.”

The buyers are Quantumlink Realty Corp., Citiworld Properties & Development Corp., Exquadra, Inc. and Lavish Sources Ltd. Quantumlink is 57% owned by the Unioil Group, Citiworld and Exquadria are Filipino firms in the business of real estate and land acquisition, and Lavish Sources is from the British Virgin Islands with local presence through a storage facility.

The shares in CIP were bought from Philippine Indochem Corp., Chemholdings Corp., A2K Holdings Corp., Chemphil Employees Livelihood Foundation, Inc. and businessman Antonio M. Garcia through a share purchase agreement with the group of buyers last year.

The buyers were supposed to buy 5,866,001 common shares representing a 56.97% stake in CIP, but the stock certificates of Mr. Garcia amounting to 501 shares were “lost and therefore could not be crossed at the same time.”

“The lost stock certificate is the subject of an application for replacement and will be crossed at a later date,” CIP’s stock exchange disclosure on Tuesday said.

On top of the shares the group bought through the share purchase agreement, the buyers also tendered 2,171,617 shares in CIP last month at an offer price of P177.63. This is equivalent to a transaction price of P385.74 million.

The group now owns 8,037,117 shares representing 78.04% of the total issued and outstanding capital stock of CIP. Once the 501 shares of Mr. Garcia are successfully sold, the group will own 8,037,618 common shares in CIP equivalent to approximately 78.06% of its total outstanding capital stock. This will reduce CIP’s minimum public ownership to 21.94%.

In the tender offer conditions disclosed by CIP in December, the buyers said that they were interested in the “possibility of infusing assets and funding further business projects for CIP,” among which are building a new blending plant for lubricants and constructing warehouses. It is also considering doing a subsequent public offering to raise funds.

CIP is the parent company of CAWC, Inc., Chemphil Manufacturing Corp. and Kemwater Phil. Corp. and is in the business of manufacturing and selling industrial chemicals and personal care products. — Denise A. Valdez

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