MASS housing developer Bria Homes is looking to take advantage of the demand for decent housing in Visayas and Mindanao.
The subsidiary of listed Golden Bria Holdings, Inc. is boosting its presence in key provinces, building more Bria communities to meet the need for safe, secure, and affordable dwellings.
Bria Homes has more than 50 mass-housing projects, with a significant number in the southern Philippines.
In the Visayas, Bria has residential communities in Samar, Leyte, and Negros Oriental. In Mindanao, Bria has projects in Cagayan de Oro, Misamis Oriental, Bukidnon, Davao del Norte, Davao del Sur, South Cotabato, and North Cotabato.
“In the midst of all these, Bria Homes has kept its singular focus: to offer budget-friendly homes to ordinary Filipinos, made possible through the company’s winning formula: Affordability (Mura) + Superior Quality (Dekalidad) = a beautiful Bria Home for Every Filipino,” the company said.
The company has different condominium units and house and lot packages to accommodate varying preferences of homeowners.
THE Securities and Exchange Commission (SEC) is warning the public against a group operating under the names Brix Gamefowl Breeding, Brix Ventures, Inc., and AB Eugenio Trading, for illegally soliciting investments.
In an advisory posted on its website, the commission said it found the group to be soliciting at least P998 worth of investments to buy two chickens, in exchange for P3,000 in returns after 90 days. Returns could reach up to P7,000 for 180 days, and up to P20,000 for 360 days.
People can invest up to P10 million under the scheme, which could yield them P30 million, P70 million, and P200 million after 90, 180, and 360 days, respectively.
The SEC said that Brix Gamefowl Breeding is a registered company under the name Brix Ventures, Inc., while AB Eugenio Trading is registered under the Department of Trade and Industry under a certain Allan Brix Cabral Eugenio.
While duly registered as a corporation, Brix Ventures has not been authorized to offer, solicit, sell, or distribute any investment or securities to the public.
“The public is hereby advised to stop investing in the investment scheme being offered by Brix Gamefowl Breeding/ Brix Ventures, Inc./AB Eugenio Trading or its representatives,” the commission said.
The SEC added that such activities require a secondary license, while the securities or investment products being offered must also be registered with the SEC before they can be offered or sold to the public.
The commission noted that those who act as salesmen, brokers, dealers, or agents of the entities may face a fine of up to P5 million, or a prison sentence of up to 21 years, as per the Securities Regulation Code.
The SEC has been strengthening its efforts against investments scams following its crackdown against Kapa-Community Ministry International, which has allegedly collected at least P50 billion worth of investments from the public.
A criminal case against Kapa, its founder, and officers is now pending.
The commission earlier warned the public that any investment that seems to good to be true is probably not true.
SEC Chairperson Emilio B. Aquino also advised the public to be more discerning and critical of any promises made by fraudster, enjoining them to take the time to verify the legitimacy of an investment and where they will be getting their promised returns. — Arra B. Francia
JUST TO be clear from the outset: RICO stands on solid ground. As the acronym for “Racketeer Influenced and Corrupt Organizations,” it speaks to the procedurally generated action it offers, requiring the disposal of armed enemies with literal do-or-die persuasions. Gamers take on the role of a member of a special operations force charged with dismantling extremely entrenched criminal groups. Random missions need to be completed in the process, but the overriding objective in invariably involves getting any and all lowlife scums to meet their maker one room at a time.
If RICO sounds like John Wick on steroids, that’s because it is. The pace is frantic, giving gamers the impression that barreling through is best. No small measure of strategy is required, however. Even as weapons abound, for instance, the right choice at a given time determines the degree by which the body count keeps rising. The triggering of bullet time for a handful of seconds after gamers kick in a door provides the ideal opportunity to take down enemies, but accuracy, range, and frequency of fire are dependent on the type of munitions used. Needless to say, fire is taken as well. Death renders the rest of the mission unplayable, thus resulting in a veritable forfeit of the opportunity to earn more valuable Merits.
RICO provides an alternative: Turning back to the door first opened effectively ends the level. Parenthetically, the prospect of more rewards and unlocks via the elimination of more enemies needs to be weighed against the potential depletion of the health meter; sometimes, taking a step back now is better, if only to later on move two steps ahead. Be forewarned, though: The game is very, very hard, even on the lowest difficulty setting. And, akin to rogue-like offerings, dying means starting over. Which makes help crucial, if not critical — leading to an important point on how it is best appreciated.
RICO touts itself as a game for “up to two players.” Because it’s extremely difficult to beat alone, however, an extra pair of hands isn’t just recommended, but necessary. And here’s the good news: It thrives on cooperative play. When the Switch is docked, the screen is split by a horizontal bar to show the partners’ progress separately. When undocked and online, gameplay takes the entire visual real estate. Unfortunately, it hits a couple of snags in this regard. First, finding a fellow player out in the wild isn’t easy due to evident region restrictions. Second, the absence of a voice chat option makes the coordination of actions, crucial to proper planning and implementation, a chore at best.
RICO is far from perfect technically; load times to generate levels border on irritating. Even the so-called randomness they’re supposed to produce reaches a limit; after a while, gamers would be lucky not to get a “been there, done that” vibe. Frame rates are all over the place, and can be jarring to the senses; they’re especially bothersome to the point of affecting the interface when there’s a lot going on. The same goes for the inconsistent distance rendering, which makes the search for objects unfairly difficult. And, yes, it could have benefited from ambient music.
All the same, RICO manages to earn its keep by compelling gamers to strike the right balance between going all in and proceeding with caution. Because each mission has a 24-hour limit, there is a temptation to barrel through rooms with guns blazing in an effort to save time. The flipside, however, comes by way of increased susceptibility to injury and proximity to death. In other words, they’re given the power of choice, and, ideally, with backup from start to finish.
THE GOOD:
• Frenetic action
• Strategy required
• Outstanding implementation of bullet time
• Cooperative gameplay raises replay value
THE BAD:
• Just about impossible to beat in single-player mode
• Technical issues, including frame drops and long load times
• Online play a chore to set up
RATING: 7.5/10
A SCREENCAP from Lust for Darkness
POSTSCRIPT: Nintendo isn’t normally predisposed to allowing content that serves to titillate, so Lust for Darkness is, if nothing else, among the few titles on the eShop that limit their appeal to mature audiences. No doubt its status as an exception to the rule stems from the necessity of the explicit displays of intimacy in moving the narrative forward. Gamers take on the perspective of principal protagonist Jonathan Moon, who strives to save his wife, missing for a year, from the clutches of a cult bent on creating pathways to the underworld Lusst’ghaa and summoning an eldritch being through a ceremony in which they succumb to pleasures of the flesh.
Lust for Darkness promises to keep gamers on the edge of their seats with its unique take on psychological horror, but provides for no subtlety in pushing the boundaries of its medium. The setup is fairly engrossing, if straightforward. Moon heads to an appropriately sinister mansion on the strength of a letter he receives from his missing wife. As he ventures to save her, he finds himself going up against members of the cult and inhabitants of Lusst’ghaa as it begins to meld with the Victorian abode.
In this regard, developer Movie Games Lunarium strives to amp up the scares and keep gamers on their toes through varied gameplay. Its roots as a walking simulator are evident in its linear progression, with Moon having to do significant exploration work — examining his surroundings, opening lockers, poring through items, and so on and so forth — while going through passageways and corridors. On the flipside, it offers enough doses of stealth movement, running, and puzzle solving for the interest of the more impatient lot to be retained.
Unfortunately, Lust for Darkness seems an update or two away from becoming a solid port on the Nintendo Switch. As good as its personal computer version may be, it gets bogged down on the hybrid console by hardware and programming limitations. Frame drops are evident even with all the graphical sacrifices, and the Lovecraft-inspired imagery Movie Games Lunarium wants to bring to the fore sometimes gets lost in the literal absence of light. The ambient music does help convey the right atmosphere, but the voice acting, while getting the job done, could be better.
In the end, Lust for Darkness winds up being betrayed by its own hype. It begins with great promise; even the hefty 12.9-gigabyte eShop download seems to pledge results. Meanwhile, it’s a five-hour run-through at best, signifying that it would have fared better with tempered expectations. That said, investing in it does yield not inconsequential benefits; the more gamers collect in-game items (tomes, artifacts, and the like), the more they get to delve into the game’s underlying mythology — culminating in an unlocked cutscene that ties a ribbon around the narrative. It’s good on the whole, but sets a low bar for the upcoming sequel to hurdle. (6.5/10)
As the title of developer Crazy Panda’s entry to the tower-defense genre suggests, Evil Defenders tries to distinguish itself from its teeming competition by placing gamers on the side of the industry’s usual enemies. The aim to be different manifests itself in the narrative, which — as told through cutscenes featuring still images — begins with a bar fight among humans and sets up their quest for riches by invading a neighboring kingdom inhabited by forces of darkness. The mobile roots are obvious, as there is little by way of exposition. On the flipside, the Nintendo Switch port requires no microtransactions typical of small-screen offerings; all the content is available from the get-go.
In this regard, Evil Defenders succeeds in delivering the goods. There are 90 levels all told spread across 15 mission maps, and gamers will be spending not inconsiderable time going for and implementing countless upgrades on up to 60 towers on tap. For the purpose, currencies in the form of souls are collected from vanquished humans and upon completion of stages. And, make no mistake, upping stats and acquiring special attacks are a requisite to keep the hordes of attackers at bay. The skill trees are complex, if rewarding, and imbue a sense of accomplishment that engender continued playing.
The action can be frenetic, with the pace of proceedings underscored further by commanding music. Thankfully, Evil Defenders implements touchscreen controls well. As a matter of preference, gamers can instead opt for Joy-Cons or the Pro Controller, and with equal efficiency; there is a learning curve, through, as the analog sticks can prove too sensitive for comfort. In any case, the bottom line is the same: hours upon hours of intense, edge-of-seat gaming, where the historically wrong side is portrayed as the right side — and, with the right moves, the winning side. (8/10)
THE FINAL WORD: Considering that highly regarded MSX title La-Mulana was previously remade from scratch for Nintendo’s WiiWare library, the announcement of its upcoming release for the Switch platform comes as no surprise. And here’s even more good news: Nippon Ichi Software America isn’t just packaging it both physically and on the eShop with its sequel: it’s going multi-platform, targeting PlayStation 4 and Xbox One gamers as well. Needless to say, the inclusion of Kickstarter-backed La-Mulana 2, already available in Japan, figures to provide ample bang for the buck to the set slated to be out in the West next year.
To contend that NISA is going all in on the twin puzzle platformers would be an understatement. In its PAX West panel at the Seattle Convention Center over the weekend, game designer Takumi Naramura expounded on the process of bringing the adventures of archaeologist Lemeza Kosugi and daughter Lumisa to life on eighth-generation systems. Meanwhile, a Hidden Treasures Edition — which will include copies of the title, an art book, a two-CD collection of the original and arranged soundtracks, and a jigsaw puzzle — is already up for preorder on the NISA Online Store.
PRESIDENT RODRIGO R. Duterte has issued an executive order (EO) reducing the dividend rates of Land Bank of the Philippines (LANDBANK) and Development Bank of the Philippines (DBP) to improve the banks’ capital position.
By authority of Mr. Duterte, Executive Secretary Salvador C. Medialdea signed on Aug. 28 EO No. 89 titled: “Adjusting the dividend rate of selected government-owned or -controlled corporations (GOCCs) pursuant to Section 5 of Republic Act No. 7656.” Copies of the EO were released to reporters on Monday.
From at least 50%, the President’s EO reduced the dividend rate of LANDBANK to 10% for its earnings in 2016 and 2017, and DBP to 0% for its earnings in 2017.
The EO noted that under RA 7656 which requires all GOCCs to declare and remit at least 50% of their annual net earnings to the national government, the President, upon the recommendation of the Secretary of Finance, may adjust the dividend rates “in the interest of economy and general welfare.”
In a phone message to reporters, Finance Secretary Carlos G. Dominguez III said he recommended the said adjustments “to improve [the banks’] capital position so they can better fulfill their mandates.”
The EO said the liquidity, capital position, medium-term plans and programs of both LANDBANK and DBP “were considered in the determination of their respective reasonable dividend rates or net earnings for selected years.”
In his State of the Nation Address in July, Mr. Duterte threatened to abolish LANDBANK for supposedly neglecting its mandate to finance agricultural projects and endeavors, criticizing the bank for being “mired with so many commercial transactions.”
LANDBANK has said it is the only bank compliant with the Agri-Agra Law. Republic Act 10000 or the Agri-Agra Reform Credit Act mandates banks to allot at least 10% of their total loanable funds to agrarian reform beneficiaries and 15% for farmers and fisherfolk.
Data provided to reporters showed LANDBANK’s exposure to the agriculture and fisheries sectors amounted to P177.32 billion as of end-June, 22.17% of the lender’s total loan portfolio of P799.64 billion — 16.8% higher than P151.78 billion recorded as of June 2018.
This is on top of the P42.31 billion lent to the “mandated” sector, which includes small farmers including agrarian reform beneficiaries and their associations (P42.17 billion) as well as small fishers and their associations (P140 million).
Last month, the bank said it was looking to increase its loan to the agriculture sector by 20% by 2020 through “intensified efforts.”
DBP, which is the eighth-biggest bank in the country, has been assigned as the government’s infrastructure bank by the Duterte administration. It is largely meant to provide credit lines to construction projects, including big-ticket items on the “Build, Build, Build” pipeline.
It is also tasked to extend loans to micro, small and medium enterprises, social services and community development, and the environment.
In its report last April, DBP said it made a P5.72-billion profit last year, up by 4.2% from the P5.49-billion bottom line in 2017. Total loans stood at P328.93 billion, which grew 12% higher than the P293.82 billion outstanding credit lines as of end-2017. A third of these loans were channelled to infrastructure and logistics, totalling P110.52 billion. — Arjay L. Balinbin
GREENFIELD Development Corporation’s high-end brand Greenfield Deluxe is building an ultra-luxe community in Sta. Rosa, Laguna.
Located within Greenfield City, Trava is “built upon a foundation of sustainable, green principles.”
“The vision for Trava is to let homebuyers invest in not just opulence, but even more importantly, for their health and for land stewardship,” the company said.
Over 45% of the 33-hectare community will be dedicated to expansive, green spaces, and the rest devoted to residential lots and commercial areas.
Residential lots are sized between 550 square meters to 750 square meters.
Trava’s clubhouse has solar-powered areas, and used glass that reduces UV and infrared light, odorless paint, and engineered wood.
“Also superior ‘nature-friendly’ features in the neighborhood are its tree-lined roads, permeable road design that allows rainwater to drain naturally, and fully underground utilities that reduce transmission loss and eliminate unsightly lines crisscrossing streets,” the company said.
Within the township, Trava residents can shop at Paseo Outlets, Arcadia, and Laguna Central. Also within Greenfield City is Greenfield Auto Park, a 65-hectare eco-zone hosting the assembly plants of carmakers and factories.
Aside from Trava, a mid-rise condominium Zadia will also rise at Greenfield City.
THE mounting of piles as foundation for the Cavite extension of the Light Rail Transit Line 1 (LRT-1) started over the weekend, the Department of Transportation (DoTr) said.
In a statement yesterday, the department said LRT-1 operator Light Rail Manila Corp. (LRMC) kicked off the piling works on Sunday, which covers the first phase of the Cavite extension from Redemptorist station to Dr. Santos station.
With the development, the DoTr said it is on-track to get the first phase of the LRT-1 extension operational by the fourth quarter of 2021.
The P64.9-billion LRT-1 Cavite Extension project aims to add an 11.7-kilometer segment from Baclaran to Bacoor, Cavite to the existing 18.1-kilometer train line. It will have eight stations, namely: Redemptorist, MIA, Asiaworld, Ninoy Aquino, Dr. Santos, Las Piñas, Zapote and Niog.
The first phase of the extension — for which piling works begun — covers the seven-kilometer stretch of the first five stations from Redemptorist to Dr. Santos. The right of way for this segment has already been awarded to the concessionaire.
The remaining stations from Las Piñas to Niog are scheduled for completion in 2022, a year after the first phase opens.
“To speed up construction, piling works will be done simultaneously in up to five different areas where right of way is made available,” the DoTr said, noting it is working closely with the Metro Manila Development Authority, Light Rail Transit Authority and the local government of Parañaque City.
Once the Cavite extension opens, the DoTr expects the daily ridership of LRT-1 to increase to 800,000 from 500,000 at present, and reduce the travel time from Baclaran to Bacoor to 25 minutes from the current one to two hours.
LRMC is the joint venture of Ayala Corp., Metro Pacific Light Rail Corp. and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd. It holds the P65-billion, 32-year contract to operate LRT-1 and build its extension to Cavite.
Metro Pacific Investments Corp. is one of three Philippine subsidiaries of Hong Kong’s First Pacific Co. Ltd., the others being PLDT, Inc. and Philex Mining Corp. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., maintains an interest in BusinessWorld through the Philippine Star Group. — Denise A. Valdez
SENIOR House legislators intervened to keep the P4.1 trillion 2020 Budget on track after moves to withdraw the budget bill raised the prospect of setbacks to the approval timetable, threatening a repeat of the infighting over the 2019 spending program, which was four months delayed.
“We assure the public that (the) budget will be scrutinized but will not be delayed and will be transparent,” Speaker Alan Peter S. Cayetano said in a statement, adding that pork barrel funding has “no place in the 2020 budget.”
His office issued the statement after Mr. Cayetano called on all agencies and departments to submit “written presentations of their respective budget proposals” by close of business today, Tuesday.
On Sunday, Camarines Sur 2nd district Rep. Luis Raymund F. Villafuerte Jr., a deputy Speaker, posed procedural hurdles to the budget discussions by claiming that the bill had been prematurely filed because the agencies and departments had yet to complete their budget hearings. He alleged that the process was brought forward with “undue haste.”
Mr. Cayetano requested the House rules committee to make a determination on the matter and “refer the 2020 GAB (General Appropriations Bill) to the committee on appropriations for is consideration.”
House Appropriations Committee Chair and Davao City 3rd district Rep. Isidro T. Ungab on Monday rejected Mr. Villafuerte’s contention of premature filing, telling BusinessWorld, “We cannot conduct budget hearings without a bill filed for first reading, with the budget bill being a replica of the NEP,” he said, referring to the National Expenditure Program as drawn up by the Executive Branch.
Mr. Villafuerte had moved to withdraw House Bill 4228 or the 2020 GAB, saying that the passage of the budget should not be “short-circuited.”
“The House leadership under Speaker Cayetano is fully committed to having the 2020 GAB acted upon in a timely manner and for all committee and plenary deliberations on this bill fully transparent and in keeping with the Supreme Court’s landmark ruling against so-called pork barrel funds for legislators,” Mr. Villafuerte said in a statement on Sunday. “But this legislative process must not be done with undue haste or making a mockery of the House’s constitutional power of the purse.”
In a letter to Mr. Villafuerte obtained by BusinessWorld, Mr. Ungab cited the urgency of keeping the budget on track, noting that the deputy speaker’s move to withdraw the bill would “derail” the scheduled approval of the budget.
“To prepare another set of (the) General Appropriations Bill will require enormous time, effort and resources that will surely affect or delay the passage of the 2020 Budget,” Mr. Ungab said in his letter.
He added, “Needless to say, any alteration of the National Expenditure Program or NEP, which is the version of your revised General Appropriations Bill, will surely raise doubts (about) our proceedings and the House will be questioned on why it (intends to) alter the proposed budget prepared by the Executive Department.”
Mr. Ungab said the GAB has always been closely modeled on the National Expenditure Program (NEP).
“Should there be amendments to be made based on those briefings, we include these in the committee report to be filed before we proceed to floor deliberations. Since we are about to finish the briefings by this week, it is just proper to file the bill and have it printed,” Mr. Ungab said.
The 2019 Budget was delayed by the issue of “insertions” and the resulting disputes over which chamber altered the spending program. President Rodrigo R. Duterte eventually vetoed over P95 billion-worth of budget items after signing the measure in mid-April.
The budget delay has been cited as a factor in the sharp slowdown in economic growth, because of the delays to the release of infrastructure funds, which needed to reach the contractors in time for the critical dry-season building window.
The last day of briefings for the 2020 budget is Sept. 6 with the preparation of the committee report set for Sept. 10.
Plenary deliberations are also scheduled for Sept. 12 to Oct. 4, by which time the House leadership hopes to achieve plenary discussion and third and final reading approval for the GAB.
Ways and Means Committee chair and Albay 2nd district Rep. Jose Ma. S. Salceda said that budget hearings will still go on cannot move to the floor without the GAB being referred to and approved by the Appropriations committee.
“Hearings will go on but the significant implication is we can’t go to the floor without the GAB referred to committee, approved by committee and passed through the Rules committee,” Mr. Salceda said in a message to reporters on Sunday night.
Mr. Salceda added, “The Appro[priations] Committee bill was exactly the NEP. Ongoing printing was stopped, bukas sana tapos na (it was expected to be finished by the next day) for distribution. We will just work harder to meet Oct 4.”
The Development Budget Coordination Committee in its March 13 meeting slashed GDP expansion targets for this year to 6-7% from 7-8% originally and 2020 to 6.5-7.5% also from 7-8%, citing constraints from the delayed enactment of the national budget. — Vince Angelo C. Ferreras
HEALTH advocates warned against a proposed ordinance in or e-cigarette use, and rejected claims that the tobacco alternatives are safer.
HealthJustice Philippines and the Southeast Asia Tobacco Control Alliance (SEATCA) said the draft ordinance appears to accept the vaping industry’s claims that its products are “far less harmful” than traditional tobacco products.
“There is no scientific evidence to support claims that e-cigarettes and heated tobacco products are safe… no public health authority has claimed that these products are safe. The public and public servants in a position to protect public health must be fully apprised of the health risks inherent to vaping,” Dr. Edgardo Ulysses N. Dorotheo, SEATCA Executive Director, said in a statement.
The unnumbered draft ordinance calls the category of vaping products “vapor and heated tobacco products (VHTPs)” and claimed a “fundamental difference” between combustible and non-combustible products warranting separate regulation from traditional tobacco products.
The ordinance also cited the proliferation of “illicit or non-compliant VHTPs” as a missed opportunity for greater tax collection.
Other issues with the ordinance raised by the health groups were the regulation of designate smoking areas, with the ordinance requiring a designated vaping area (DVA) in an open space or a room with proper ventilation. The DVA is to be separate from the area designated for the consumption of traditional tobacco products.
Mary Ann Fernandez-Mendoza, President of HealthJustice, alleged that the tobacco industry is “brainwashing” the public into accepting the safety of e-cigarettes.
“The vaping industry is just the tobacco industry in different clothes. Because it is undisputed that smoking traditional cigarettes is a public health hazard, the tobacco industry would now have us believe that vaping or smoking e-cigarettes is safe. It is not. It’s just another form of addiction and the tobacco industry’s new source of income,” she said.
HealthJustice cited a recent case of a US vaping death in the state of Illinois due to lung disease, as well as other deaths caused by e-cigarette explosions and contaminated “juice” refills that led to death by poisoning.
The US Centers for Disease Control is currently investigating as many as 215 deaths linked to e-cigarettes, HealthJustice said.
“Places allowed for vaping are too limited. This is contrary to the FDA 2019-0007. It is stated there that, smoking or vaping should be prohibited in public places as enumerated in EO 26. In places where smoking is not allowed, vaping should not also be allowed,” Mr. Benedict G. Nisperos, HealthJustice Legal Consultant told BusinessWorld.
He also said that the ordinance is limiting the coverage of the non-smoking areas specified within the prohibition.
The Department of Health issued Administrative Order 2019-0007 or the Revised Rules on Electronic Nicotine and Non-Nicotine Delivery System stated that designated vaping areas should follow the same guidelines and requirements set for designated smoking areas (DSA) issued by Executive Order 26 (EO) or the Providing for the Establishment of Smoke-Free Environments in Public and Enclosed Places.
The EO stated that “there shall be no opening that will allow air to escape from the DSA to the smoke-free area of the building or conveyance, except for a single door equipped with an automatic door closer; provided the DSA is not located in an open space, such door shall open directly towards a Non-smoking Buffer Zone (Buffer Zone) as defined in this Order.”
However, the city ordinance stated that vaping areas “may be in an open space or separate area with proper ventilation, but shall not be located within the same room that has been designated as a smoking area.”
The EO also stated that the ventilation of the smoking area should not be connected to the rest of the ventilation system of the structure given that an open space or a buffer zone is not available.
Executive Director Ulysses Dorotheo of the Southeast Asia Tobacco Control Alliance said that there is no scientific evidence to support the claims that e-cigarettes and heated tobacco products are safe.
“The public and public servants in a position to protect public health must be fully apprised of the risks inherent to vaping,” she added.
THE Philippine Health Insurance Corp. (PhilHealth) hopes to enroll the remaining 2% of the population in its insurance scheme by the close of the first year of the Universal Health Care (UHC) Law in 2020, Health Secretary Francisco T. Duque III said.
In a statement, Mr. Duque said 100% coverage is expected to be achieved for state-owned PhilHealth’s National Health Insurance Program (NHIP).
“Right now, we are at 98% enrollment. We expect to achieve 100% enrolment by the end of the first year of UHC implementation,” he said.
The UHC Law requires all Filipinos to be members of PhilHealth.
Mr. Duque said he expects no delays in the rollout of the UHC Law, for which only 33 locations have been identified as initial operating areas of the UHC Integration Sites (UIS) Program.
“The UIS Program is not the be-all and end-all of the UHC Program. Though it is a critical step to address fragmentation in the health system, the UIS Program is only one of the many reforms. Let us not confuse or equate UIS with UHC. Non-selection of an area in the UIS for 2020 does not mean that UHC will not be implemented at all in a certain area next year,” he said.
The 33 areas initially identified for UIS are: Valenzuela, Parañaque, Dagupan City, Baguio, Benguet, Isabela, Nueva Vizcaya, Quirino, Bataan, Tarlac, Batangas, Quezon, Oriental Mindoro, Masbate, Sorsogon, Aklan, Antique, Guimaras, Iloilo, Cebu province, Biliran, Leyte, Samar, Zamboanga del Norte, Cagayan de Oro, Misamis Oriental, Compostela Valley, Davao del Norte, Sarangani, South Cotobato, Agusan del Sur, Agusan del Norte, and Maguindanao.
Last week, PhilHealth CEO Ricardo Morales estimated that it could take three to six years to fully implement the UHC Law, citing funding and manpower issues. Mr. Duque affirmed this and added that a gradual implementation will be more cost-effective and realistic as opposed to forcing the launch without being fully ready.
“We Have to remember that the transitory provisions of the UHC Act are clear when they provide for a six-year transition period for the integration of local provider networks into provincial and city health systems. We cannot demand the complete integration of over 100 provincial and city health systems overnight when the law clearly provides for a realistic six-year period to accomplish this,” Mr. Duque said. — Gillian M. Cortez
THE Energy department is supporting the extension of the feed-in tariff (FiT) rate for small hydroelectric power projects until developers have fully taken up all the capacity that the agency has offered for the renewable resource, an official handling the matter said.
“[For] run-of-river [hydro projects, it’s] until full subscription. So it will continue until ma-fully subscribe ’yung 250 [megawatts, MW] (until the 250-MW quota is fully subscribed),” said Mylene C. Capongcol, director of the Department of Energy’s (DoE) Renewable Energy Management Bureau (REMB), in an interview on Monday.
She said at least 100 MW had been taken up by developers who build small hydro projects, which usually have long gestation periods, or time used from project construction, commissioning and commercial operation.
Of the subscribed capacity, not all have secured approval from the Energy Regulatory Commission (ERC), Ms. Capongcol said.
“So we’re looking at an additional 100 MW,” she said.
Asked about whether the full subscription could extend beyond this year or stretch until next year, she said: “The mechanism is until it is fully subscribed.”
“Our bureau is preparing a communication with the [ERC] for the run-of-river [feed-in tariff],” she said.
Monalisa C. Dimalanta, chairman of the National Renewable Energy Board (NREB), earlier said that her office will seek the extension in a meeting with the DoE secretary.
“[For run-of-river, the] request will be to allow testing/commissioning and eligibility even after December 2019 as long as installation capacity is not yet fully subscribed,” she said in a text message.
She said the full subscription is expected in the second quarter of 2020. She said the request of NREB, a panel composed of members from the public and private sector, would cover a “degressed” rate for the renewable energy, which is currently being evaluated by the ERC.
Ms. Capongcol said the FiT rate to be given to the new small hydro projects would depend on the ERC. “It’s ERC’s option,” she said.
Aside from the small hydro FiT extension, NREB is also looking at requesting the DoE’s approval to accommodate the capacity that exceeded the 250-MW installation target for the resource.
“For biomass, request will be to allow capacity even beyond the installation target to be certified as long as commissioned by end-December 2019,” Mr. Dimalanta said.
However, Ms. Capongcol said the DoE has yet to decide on the biomass excess capacity.
“As of now, based on the guidance of the [DoE] Secretary [Alfonso G. Cusi], until 2019 na lang (only) because (the two-year extension) will be finished by 2019,” she said.
“Inaaral pa namin pero (We’re still studying the matter but) we’re not extending as of now the biomass [feed-in tariff]. But we may devise a mechanism on how we will be able to accommodate ’yung lumagpas (the projects that exceed the quota),” she added.
The FiT scheme was meant to encourage investment in renewable energy by granting the preferential rates until the capacity installation target of 250 MW each for small hydro and biomass is fully subscribed.
Under the previous extension, the board sought a rate of P5.8705 per kilowatt-hour (kWh) for small hydro projects and P6.5969 per kWh for biomass projects.
The requested rates were the degressed values from the July 27, 2012 feed-in tariff rates issued by the ERC, which set run-of-river hydropower at P5.90 per kWh and biomass at P6.63 per kWh. The implementation of the FiT system started on Jan. 1, 2015 and was supposed to remain in effect for two years, or until December 2017.
On Feb. 23, 2018, the DoE informed the ERC of its resolution extending the FiT for biomass and small hydro for another two years until Dec. 31, 2019, or upon successful commissioning of projects covering the remaining balance of their respective installation targets, whichever comes first.
The DoE recommended that the FiT to be granted should be the rate at the time of the successful commissioning of the projects. The ERC initiated its own review and re-adjustment of the FiT rules as prompted by the missed installation targets. — Victor V. Saulon
THE national government’s outstanding debt was P7.804 trillion at the end of July, up 10.8% year on year, according to the Bureau of the Treasury (BTr).
BTr said Monday that debt in the seven months to July fell 0.8% against the P7.869 trillion posted in the first half due to the appreciation of the peso and payments made on domestic debt.
“The National Government’s (NG) outstanding debt was recorded at P7,804.05 billion for end-July 2019, P64.58 billion or 0.8% lower than the previous month,” it said in a statement.
BTr said 67.3% or P5.251 trillion was owed to domestic creditors while 32.7% was provided by foreign creditors.
Domestic borrowing rose 14.1% year on year at the end of July, but fell 0.8% from a month earlier.
Government securities accounted for the majority of domestic debt at P5.25 trillion while the remainder consisted of loans entered into by various agencies as well as assumed loans.
External borrowing increased 4.5% year on year at the end of July but fell 0.8% from a month earlier.
As of July, the bulk of offshore borrowing consisted of dollar bonds worth the equivalent of P1.263 trillion, followed by peso global bonds totaling P129.679 billion and yen bonds worth the equivalent of P118.903 billion.
“For July, the lower external debt was due to the combined effect of local and third-currency fluctuations which reduced the value of foreign debt by P18.49 billion and P3.34 billion, respectively,” it said.
Meanwhile, total guaranteed obligations stood at P483.813 billion, 0.02% lower year on year.
“For July, the lower external debt was due to the combined effect of local and third-currency fluctuations which reduced the value of foreign debt by P18.49 billion and P3.34 billion, respectively,” it said. — Beatrice M. Laforga
