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Villar, Pacquiao still richest senators; Go, De Lima at the bottom

SENATORS CYNTHIA A. Villar and Emmanuel D. Pacquiao maintained their position as the wealthiest senators, while detained Senator Leila M. De Lima is the poorest among them.

Based on the summary of Statement of Assets, Liabilities and Net Worth (SALN), the net worth of Ms. Villar — whose husband, Manuel B. Villar, Jr., topped Forbes Magazine’s annual list of world billionaires this year — is P3.534 billion as of June 30, 2019.

Professional boxer Pacquiao came in second with P3.005 billion as of Dec. 31, 2018.

Among the richest are Senate President Pro Tempore Ralph G. Recto (P555 million), Majority Leader Juan Miguel F. Zubiri (P182 million), and Senator Ramon B. Revilla, Jr. (P164 million).

Ms. de Lima has the least with P7.7 million.

Neophyte Senator Christopher Lawrence T. Go, a former longtime close aide of President Rodrigo R. Duterte, is second to the last with P15.5 million.

Sought for comment, Mr. Go told reporters on the sidelines of the ocular inspection in New Clark City on Wednesday that what he declared is the “truth.”

Also within the top ten richest Senators are Juan Edgardo M. Angara (P139 million); Senate Minority Leader Franklin M. Drilon (P97 million); Sherwin T. Gatchalian (P96 million); Grace S. Poe-Llamanzares (P95 million); and Pilar Juliana S. Cayetano (P82 million).

Completing the list are Richard J. Gordon (P71 million); Senate President Vicente C. Sotto (P70 million); Manuel M. Lapid (P69 million); Francis N. Tolentino (P62 million); Maria Lourdes Nancy S. Binay (P59 million); Panfilo M. Lacson (P42 million); Maria Imelda R. Marcos (P29.97 million); Aquilino Martin L. Pimentel III (P29.93 million); Ronald M. dela Rosa (P28 million); Emmanuel Joel J. Villannueva (P26 million); Francis N. Pangilinan (P16 million); and Ana Theresita N. Hontiveros-Baraquel (P15 million). — Charmaine A. Tadalan

Locsin suggests: Cut ‘offending scene’ in Abominable movie

UNLIKE VIETNAM’s order for a total pull-out of the computer-animated movie Abominable, Philippine Foreign Affairs Secretary Teodoro L. Locsin, Jr. has suggested cutting what he called the “offending scene,” which shows the nine-dash line claim of China in the South China Sea.

At the same time, Mr. Locsin opined that a call could be made for “a universal boycott of all @Dreamworks productions from here on.”

“What about cutting out that scene? You’re a lawyer, on what ground can we ban—and which agency has that power—an implicit message, assuming any Filipino will assert his First Amendment right in the case?” Mr. Locsin said late Tuesday in a social media exchange with Jay L. Batongbacal of the University of the Philippines.

The statement followed Vietnam’s move to pull out the movie from cinemas over a scene that showed the nine-dash line. The Dreamworks film was produced in partnership with Chinese film production company Pearl Studio.

China had long asserted it has historical claims over the South China Sea based on the nine-dash line, which covers part of the West Philippine Sea. An international tribunal’s ruling has debunked China’s claim.

In a follow-up post on Wednesday morning, Mr. Locsin asked Movie and Television Review and Classification Board (MTRCB) Chairwoman Maria Rachel J. Arenas to order the omission of the controversial scene.

“Of course, they should cut out the offending scene which will show our displeasure better than if we unconstitutionally ban it, as some suggest,” Mr. Locsin said in a separate post.

“Do cut out crudely. Maybe interject MTRCB head in cut out scene with a hectoring lecture. Then cartoon goes on.”

Mr. Batongbacal, Director of the UP Institute of Maritime Affairs and Law of the Sea, said the MTRCB has authority to order the deletion.

“Agree this is a slippery slope, but think we should push back vs. CN propaganda tactics nonetheless. MTRCB technically has power to require deletion of objectionable portions of films for reasons that include,” Mr. Batongbacal said in response.

He also supported calling for boycott to avoid contributing to China’s profit as well as to discourage American companies, in partnership with China, to promote their propaganda. — Charmaine A. Tadalan

PHL 100% ready for SEA Games hosting

HOUSE SPEAKER Alan Peter S. Cayetano, who also chairs the Philippine Southeast Asian Games Organizing Committee (PHISGOC), said the country is 100% ready for the 30th Southeast Asian Games in November, though he admitted that the daily hosting of the event will be a challenge. “Overall, we are 100% ready. Now ang challenges natin ay ‘yung (are the) day-to-day. Remember, you’ll have more than 20,000 people, you’ll have 56 sports and around 500 events, so handling all of these, the traffic, ‘yung food, ‘yung pangangailangan ng mga (needs of the) athletes, angal ng mga (complaints of) coaches, tapos may mga (and there would be) royalty and head of states… so it’s really the 11 days,” said Mr. Cayetano during Wednesday’s site visit at New Clark City in Capas, Tarlac, one of the venues for the SEA Games. “Having said that, rehearse nang rehearse, meet nang meet,” he added. Meanwhile, Central Luzon Police Chief Brig. Gen. Joel Napoleon Coronel said the Philippine National Police will deploy 9,250 personnel in all the event venues. “We will be augmented by personnel coming from the Armed Forces of the Philippines, from the Bureau of Fire Protection, DoH (Department of Health), and local government responders unit. As early as Nov. 21 we will be already in full deployment,” Mr. Coronel told reporters. — Vince Angelo C. Ferreras

MMDA enforcers to get insurance coverage

ALL METROPOLITAN Manila Development Authority (MMDA) enforcers will soon enjoy free insurance coverage on accidental death and disablement funded by the non-life insurance sector. In a statement on Wednesday, Insurance Commissioner Dennis B. Funa said the insurance will protect traffic enforcers from risks such as constant exposure to black carbon and heavy metals, dismemberment or even unexpected death in traffic accidents. He said the Philippine Insurers and Reinsurers Association, Inc. (PIRA), and the Philippine Insurers Club (PIC), representing the non-life insurance industry, will handle the free coverage after they signed a memorandum of agreement on Tuesday. The free insurance include coverage on accidental death worth P10,000, motorcycling cover worth P10,000, unprovoked murder and assault worth P5,000, accidental medical reimbursement worth P1,000 and another P1,000 for accidental burial benefit. Fortune General Insurance Corporation, Inc. will issue the group policy under this program. “With all these risks they encounter in the performance of their job, it is fitting for our MMDA enforcers to have such insurance program that will protect them and grant assurance to their loved ones in the event of unexpected death,” Mr. Funa said. — Beatrice M. Laforga

Cebu City mayor sacks water district board directors

CITING “WIDESPREAD” customer dissatisfaction, Cebu City Mayor Edgardo C. Labella has terminated the members of the Metropolitan Cebu Water District’s (MCWD) board of directors. Notices of termination were sent to Chairman Joel Mari Yu, Vice Chairman Ralph Sevilla, Secretary Cecilia Jugao-Adlawan, and members Procopio Fernandez and Augustus Pe, Jr. on Oct. 15. The five have chosen not to issue a statement. “It is a fact that the consumers of MCWD have been greatly dissatisfied with its present service. This has prompted local government units, such as the Cities of Cebu, Mandaue, and Talisay and the Municipalities of Consolacion, Lilo-an, Compostela, and Cordova, and the Province of Cebu through their respective Sanggunians, to issue Resolutions expressing their dissatisfactions and calls for action on the matter. It is for this widespread dissatisfaction over the services of MCWD that I am constrained to terminate your services as a Director,” reads the notice sent to Mr. Yu. Under the law that created MCWD, the Cebu city mayor has the authority to appoint or remove the members of the Board. The Local Water Utilities Authority (LWUA) did not object to Mr. Labella’s decision. LWUA Acting Administrator Jeci A. Lapus, in a letter to the mayor, said his action is within the bounds of the law. The MCWD board has five members who each serve a six-year term. Except for Mr. Fernandez, who was appointed during the term of former mayor and now Vice Mayor Michael L. Rama, the rest were appointed during the term of former mayor Tomas R. Osmeña. — The Freeman

DA-BPI warns farmers on fall armyworm pest

A CORN farm in the Davao Region. — BW FILE PHOTO

THE AGRICULTURE department’s Davao office has alerted farmers to check for possible fall armyworm (FAW) infestation after the pest was found in two farms in the region. The Crop Protection Division of the Department of Agriculture’s Bureau of Plant Industry (BPI) Davao announced that it is awaiting confirmation this week from the BPI head office in Manila on FAW larvae found in plantations in Davao City’s Baguio District and in Malalag, Davao del Sur. “Konti pa pero (It is minimal but) we are sharing the information not to create panic but awareness. We are pro-active to inform and make the farmers aware,” Marilou Infante, regional crop protection center chief, said in a media forum earlier this week. She explained that FAW is an insect pest that can feed on more than 80 crop species and may cause a significant drop in the production of such commodities as maize, rice, sorghum, and vegetables. “These insects are not endemic in the Philippines that is why they don’t have a natural enemy,” Ms. Infante said. The presence of FAW was confirmed first in Isabela in Region 2 and in Region 12 earlier this year. The BPI calls on farmers to monitor, do blanket spraying or use Metarhizium anisopliae, which is a fungus that grows naturally in soils. — Maya M. Padillo

TD Perla seen to affect Batanes, Cagayan, Apayao

TROPICAL DEPRESSION Perla may brings rains over the provinces of Batanes, Apayao, and Cagayan, including the Babuyan Islands, starting Friday evening, weather bureau PAGASA reported on Thursday. Perla, with maximum sustained winds of 45 kilometers per hour (kph) near the center and gustiness of up to 55 kph, is not expected to intensify into a tropical storm. No storm signals were raised as of Thursday, but PAGASA warned that sea travel “is risky, especially for small sea vessels, over the northern and western seaboards of Northern Luzon due to potentially rough sea conditions associated with the northeasterly surface windflow.” As of 10 a.m. Thursday, Perla was 1,120 km east of Casiguran, Aurora and was moving west-northwest at 20 kph.

SMC’s Ang vows SLEx traffic problem resolved by Dec. 1

SAN MIGUEL Corp. (SMC) President and Chief Operating Officer Ramon S. Ang has taken responsibility for the traffic congestion along the South Luzon Expressway (SLEx) and promised that the problem would be resolved by Dec. 1. SMC manages Skyway Operations and Maintenance Corp. (SOMCO), which is currently undertaking preliminary works on its extension project for the Skyway system, affecting SLEx. Mr. Ang, in an interview on DZMM on Wednesday, said they would be able to restore the affected SLEx portion to three lanes by the start of Dec. He added that there will be a “ramp” on the Alabang flyover, which would expand it to five lanes. SOMCO said on Oct. 1 that it would speed up the completion of the heavy preliminary works on its extension project. — Arjay L. Balinbin

Nationwide round-up

TUCP supports higher Pag-IBIG contributions

Pag-IBIG Fund
THE TRADE Union Congress of the Philippines (TUCP) has expressed support on the proposed phased increase in monthly contributions by members of the Home Development Mutual Fund or Pag-IBIG Fund.

“In order to accommodate more cash and home loans applications without compromising the fund, the TUCP is open to the Pag-IBIG plan to adjust the maximum salary cap from the present P5,000 to P15,000 which will translate to a monthly savings rate of P300 for the employee and P300 for the employer,” said TUCP President Raymond C. Mendoza in a statement on Wednesday.

TUCP is proposing that the increase be made in three tranches over three to five years “to cushion the workers and employers from effects of additional deductions of other social security agencies.”

Meanwhile, TUCP spokesperson Alan Tanjusay said the clamor for short-term cash loan facilities indicates that the value of workers’ salaries are low given the rising inflation.

“Workers who are helping the economy grow are feeling the pinch of a growing economy. These are in a way smoke signals telling government that policies on current wages are not enough and existing benefits are no longer sufficient,” Mr. Tanjusay said.

“This is also an indication that government public services in terms of health, education, mass transport, medicines are not working. Government needs to do more,” he added.

In June this year, Pag-IBIG announced they have released an all-time high of P25.57 billion multi-purpose loans for 1.2 million members in the first half of 2019. — Vince Angelo C. Ferreras

PNP given until Oct. 21 for new evidence on ‘ninja cops’ reinvestigation

THE DEPARTMENT of Justice (DoJ) started on Wednesday the reinvestigation of the complaint against 13 rouge policeman, tagged as ‘ninja cops,’ allegedly involved in the recycling of illegal drugs in 2013.

The panel of prosecutors has given the Philippine National Police-Criminal Investigation and Detection Group (CIDG) until Oct. 21 to submit their additional evidence and amended or supplemental complaint.

Among the 13 accused, only Police Major Rodney J. Baloyo IV was not present in yesterday’s session. He is currently detained at the New Bilibid Prison after being cited for contempt by Senator Richard J. Gordon for inconsistent testimony during the Senate hearing last Oct. 3.

Prosecutors also gave Police Master Sergeant Alcindor M. Tinio and Eligio D. Valeroso and Police Corporal Anthony L. Lacsamana until Oct. 21 to submit their additional evidence.

Justice Secretary Menardo I. Guevarra on Oct. 6 ordered to reopen the case following the Senate investigation.

Former CIDG chief Benjamin B. Magalong, now Baguio City mayor, told the Senate that the 13 cops assigned in Pampanga at that time were involved in a buy-bust operation on Nov. 29, 2013, wherein they reported to have seized 38 kilograms of illegal drugs and arrested the drug trafficker.

However, further investigation showed that they seized about 200 kilos of illegal drugs worth P648 million and about P10 million in cash.

The trafficker also paid them P50 million to present a different person in his place, according to Mr. Magalongd.

Police Lieutenant Joseph Q. Orsos, CIDG chief legal officer, said the additional evidence may include testimonies of those involved.

“Napaka-crucial n’on kasi (That is very crucial because it will complete the picture kung ano talaga nangyari (on what really happened),” Mr. Orsos told reporters.

He added that the transcript of the Senate probe will also be needed as it contained the revelations. — Vann Marlo M. Villegas

Bersamin says comments on recount part of ‘due process’

CHIEF JUSTICE Lucas P. Bersamin said the ruling by the Supreme Court, sitting as the Presidential Electoral Tribunal (PET), asking parties in the vice-presidential electoral protest filed by former Senator Ferdinand R. Marcos, Jr. in 2016 is part of “due process.”

“Well that’s part of due process,” Mr. Bersamin told reporters after the launching of his coffee table book ahead of his retirement on Oct. 18.

“(A)fter some deliberations, we were able to conclude that it is time indeed for the parties to be asked to comment on the report generated by (Associate) Justice (Alfredo Benjamin S.) Caguioa who was the justice-in-charge,” he said.

“And it was clear that the majority…of the court wanted the action to be taken on the report. And before we could take any action, we had to solicit the comments of the parties, that’s only fair, part of due process ‘yan. So we came up with that resolution to require the parties to comment,” he explained.

The PET ordered on Tuesday the release of the result of the revision and recount of votes in the pilot provinces of Iloilo, Camarines Sur, and Negros Oriental to Mr. Marcos and Vice President Maria Leonor G. Robredo.

They were also asked to comment on the report and submit memoranda on matters relating to the third cause of action of Mr. Marcos, which is the annulment of results for vice president in the provinces of Lanao del Sur, Basilan, and Maguindanao.

SC Public Information Chief Brian Keith F. Hosaka said on Tuesday that Mr. Caguioa and Associate Justice Antonio T. Carpio dissented. — Vann Marlo M. Villegas

Main index recovers, but gains seen tenuous

THE Philippine Stock Exchange index (PSEi) recovered on Wednesday from the preceding day’s drop to mark its strongest finish in nearly a month, taking its cue from Wall Street and keeping in step with many Asian peers.

The local benchmark added 74.99 points or 0.95% to close at 7,915.30, while the all shares index climbed 23.37 points or 0.49% to end at 4,763.69.

PSEi’s Wednesday’s finish was just slightly better than Sept. 18’s 7,915.29 and the best closing since Sept. 17’s 7,932.23.

“The stock market rallied today, up by shy of one percent, passing the 7,850 minor resistance… due to optimism in the global market’s earnings season and… anticipation of earnings season in our local bourse as well,” Philstocks Financial, Inc. Research Associate Piper Chaucer E. Tan said in a text message.

Reuters reported that Wall Street advanced on Tuesday on a good start to its third-quarter reporting season, with the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite climbing 0.89%, one percent and 1.24%, respectively.

Many major Asian bourses followed suit, with Japan’s Nikkei 225 and Topix indices climbing 1.20% and 0.70%, respectively, Hong Kong’s Hang Seng rising 0.47%, South Korea’s KOSPI climbing 0.71% and Singapore’s Straits Times Index adding 0.77%.

On the other hand, the Shanghai SE Composite and India’s S&P BSE Sensex index fell 0.41% and 0.21%, respectively.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun noted that the main index “continues to trade within its congestion area between 7,750 and 7,920.”

“If it fails to break and end above it, we may see it test support in the next few days,” he said in an e-mail. “Although, we may see some excitement from investors as the release of 3Q earnings reports has just began. Nothing happens until we see it break and hold above 8,000.”

All six sectoral indices ended up: property by 62.09 points or 1.5% to 4,175.39, holding firms by 89.95 points or 1.17% to 7,736.78, mining and oil by 56.26 points or 0.62% to 9,086.06, industrials by 48.74 points or 0.45% to 10,750.06, financials by 6.47 points or 0.35% to 1,835.89, and services by 0.37 points or 0.02% to 1,524.35.

Value turnover grew to 715.39 million shares worth P5.55 billion from Tuesday’s 631.01 million shares worth P4.60 billion.

Stocks that declined slightly edged out those that gained 93 to 87, while 62 others closed flat.

Wednesday’s list of 20 most active stocks saw four that ended down: Philippine Seven Corp. by 3.6% to P134 apiece, Puregold Price Club, Inc. by 1.6% to P39.90, Metropolitan Bank & Trust Co. by 0.73% to P68 and Ayala Corp. by 0.06% to P878 each.

Those that gained were led by Phinma Energy Corp. (8.2% to P2.77), JG Summit Holdings, Inc. (4.08% to P73.90) and Ayala Land, Inc. (2.29% to P49.10).

Foreign investors turned bullish again with P841.28-million net buying, turning around from Tuesday’s P347.81-million net selling. — Denise A. Valdez

Peso rebounds on Brexit negotiations

THE PESO recovered on Wednesday against the dollar on the back of positive developments in the Brexit negotiations and as remittances from overseas Filipino workers (OFW) rose in August.

The local unit ended at P51.595 versus the greenback on Tuesday, stronger by four centavos from its P51.64-to-a-dollar close on Tuesday.

The peso opened the session at P51.66 versus the dollar. Its weakest point for the day was at P51.74, while its intraday high was at P51.56 against the greenback.

Dollars traded on Wednesday dropped to $1.159 billion from $1.366 billion on Tuesday.

“The peso appreciated amid market optimism from positive developments in Brexit negotiations and lingering hopes on a first phase trade agreement between the US and China,” a trader said in an email.

British and European Union officials resumed talks to clinch a Brexit deal on Wednesday just a few hours after late-night negotiations wound up, but it was far from clear they would reach an agreement before a leaders’ summit on Thursday.

Officials involved in the complex divorce between the world’s fifth-largest economy and its biggest trading bloc said differences over the terms of the split from the 27 other member states had narrowed significantly.

French Finance Minister Bruno Le Maire told Europe 1 radio on Wednesday that there was a “glimmer of hope” that a Brexit deal could be reached before Britain’s scheduled departure on Oct. 31.

But if an agreement is not ready for the Brussels summit, British Prime Minister Boris Johnson will almost certainly have to postpone Britain’s exit again. That would be the third delay since the June 2016 referendum vote to quit the EU.

Meanwhile, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion attributed the peso’s strength to positive local data.

“The appreciation may have been [from] the positive news from robust remittance growth data. This may mean a stronger consumption growth that will support third quarter GDP (gross domestic product) growth,” Mr. Asuncion said in a text message.

Cash remittances from OFWs grew 4.6% to $2.589 billion in August from $2.476 billion a year ago, and by 0.31% from July’s $2.581 billion, according to data the Bangko Sentral ng Pilipinas released on Tuesday.

For today, The trader sees the peso moving around P51.50-P51.70 against the dollar, while Mr. Asuncion sees it playing within the P51.30-51.70 range. — L.W.T. Noble with Reuters

Nation at a Glance — (10/17/19)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Nation at a Glance — (10/17/19)

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