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Zafra, De Guzman take Prima Pasta open titles

LANZ Ralf Zafra and Mikaela Joy Miranda De Guzman bested their respective foes to win the open singles titles of the 13th Prima Pasta Badminton Championships at the Powersmash badminton courts in Chino Roces Avenue, Makati City recently.

Zafra delivered his best performance over 2018 Prima Pasta open singles champion Rabie Jayson Oba-ob to score a 21-7, 19-21, 21-15 victory in the men’s singles finale to take home the crown of the annual competition organized by Prima Pasta.

Zafra, a member of the Philippine team, dethroned last year defending champion Malaysian Shahrul Shazwan, 16-21, 21-11, 21-16, in the quarterfinals before outlasting Ros Leenard Pedrosa in the semifinals, 21-19, 21-7, to get into the finals.

De Guzman upset Sarah Joy Barredo, 21-13, 21-18, to bring home the women’s open singles title.

In the doubles open categories, Peter Gabriel Magnaye and Alvin Morada beat Philip Joper Escueta and Paul John Pantig, 21-19, 21-15, to capture the men’s doubles open crown.

Alyssa Ysabel Leonardo and Thea Marie Pomar outlasted Jochelle Alvarez and Joella Geva Ramos De Vera, 21-13, 21-14, to win the women’s doubles open trophy.

In the mixed doubles open finals, Magnaye got his second title as he teamed up with Pomar to defeat Abhinaya Adira and Eleanor Christine Inlayo, 21-15, 21-13, for the crown.

Other doubles champions were Christian Bernardo and John Matthew Bernardo (men’s A); Aldreen Rae Concepcion and Susmita Angelique Ramos (women’s B); Anthone Abellana and Emil Jose Mangubat (men’s B); and Maria Virginia Lopez and Joyce Pauline Santos (women’s C); John Edgar Reyes and Michael Verdejo (men’s C); Althea Rio Fuentespina and Angel Valle (women’s D); Rainiel Lloyd Nguyen and Jose Miguel Ranada (men’s D); Samantha Quinsanos and Janella Quinto (women’s F); Daniel Gabriel Luciano and Jojo Meilat (men’s F); and Daniel Cabacungan and Kurt Luis Catap (men’s G).

Jazz down Pistons for 5th straight win

DETROIT — Bojan Bogdanovic fired in 32 points and the visiting Utah Jazz stretched their winning streak to five games by topping the Detroit Pistons 111-105 on Saturday.

The Jazz, who were closing out a four-game road trip, have won the last eight meetings between the clubs. They were playing the second end of a back-to-back after winning in Boston on Friday.

Donovan Mitchell supplied 25 points, Jordan Clarkson contributed 14 points off the bench, and Mike Conley added 12.

Christian Wood led the Pistons with a career-high 30 points and 11 rebounds. Langston Galloway and Jordan McRae had 14 points apiece off the bench.

Detroit has lost 10 of its last 11 games.

Utah jumped to a 55-39 halftime lead. Bogdanovic was the main offensive weapon, tallying 16 points, while Mitchell tossed in a dozen more. Wood led Detroit with 10 points.

Earlier this week, Pistons coach Dwane Casey said the team’s defense against Oklahoma City in a 114-107 loss on Wednesday might have been the worst he’s seen since taking over as head coach prior to last season. The Pistons gave up 69 first-half points on 69-percent shooting from the field that night.

Their defense wasn’t much better in the first half on Saturday. They guarded the 3-point line well, but the Jazz converted 18 of 23 field-goal tries inside the arc and led by as many as 22 points.

Detroit hung around during the third quarter, however. John Henson tossed in a 3-pointer from the corner to make it 62-49 with 6:50 to play in the quarter, but Bogdanovic answered with one of his own. A three-point play from Wood cut Utah’s lead to 10 with 4:18 left in the quarter.

Sekou Doumbouya’s fastbreak layup a minute later made it 68-60. Clarkson soon scored twice in the lane, but with Wood scoring 13 points in the quarter, the Jazz lead was down to 79-73 entering the fourth.

The Pistons then scored the first six points of the fourth, including four by Wood, to tie it at 79-all.

But Conley slowed Detroit’s momentum with a steal and a layup, which kicked off a 7-0 Utah run. Bogdanovic’s three-point play with 7:05 left restored Utah’s double-digit advantage at 93-81.

The Pistons rallied in the late going and pulled within three on McRae’s layup with 42 seconds left. Rudy Gobert (10 points, 12 rebounds) then made two free throws with 18.5 seconds left, and Mitchell added four more in the closing seconds. — Reuters

Philam Vitality supports Spartan Philippines 2020 race season

IN line with its group mission of helping the market it serves lead a healthier life, Philam Vitality moved to present the Spartan Philippines 2020 Race Season last month.

The total wellness program of AIA Philam Life, Philam Vitality served as a partner of Spartan Philippines, whose season kicked off with a race on Feb. 22 at the 1800-hectare property of Alviera in Porac, Pampanga.

Of their involvement in the Spartan Race, AIA Philam Life said it views it as a good platform to see its group vision through.

“The Spartan Race is a good opportunity for us at AIA Philam Life to continue supporting activities that allow us to bring to life our brand promise of helping Filipinos live Healthier, Longer, Better Lives,” said Bernadette Chincuanco, AIA Philam Life Head of Branding and Communications, in a release.

She was seconded by Kats Cajucom, Head of Philam Vitality, who also added how the Spartan Race mirrors what Philam Vitality wants to push.

“Just as the Spartan Race has grown and differentiated itself in the field of obstacle course racing, Philam Vitality continues to act as a differentiator in the life insurance industry by injecting wellness into otherwise traditional life insurance,” said Philam Vitality official.

Under its program, Philam Vitality seeks to inspire its members to be healthy through rewards.

Through it members earn points as they know the status of their health and work towards improving it, ultimately increasing their status.

Depending on their Philam Vitality Status, customers can earn rewards in the form of discounts with health and wellness partners, or instant rewards such as eGifts for free coffee and mobile credits.

Also, the most rewarding aspect of the program is the 20% upfront additional coverage on life insurance upon purchase, with the potential to increase up to 50% based on membership status, or how active they are in the program.

New Jersey Nets’ superior culture gone

When Kevin Durant and Kyrie Irving formally announced their decision to sign with the Nets in the offseason, they made sure to underscore the prevailing culture as a primary reason for the move. The more illustrious Knicks — who counted the Madison Square Garden, the Mecca of hoops and just a subway ride from Barclays Center — were among the numerous suitors who likewise knocked on their doors, but they decided to latch their futures on a franchise historically closer to futility than success. They argued that the foundations were solid — epitomized by the two-way collaboration between management and the coaching staff, and particularly between general manager Sean Marks and head coach Kenny Atkinson.

Today, that “culture” is gone. The so-called partnership built through two years of toiling in lottery territory and then another season of certain progress before Durant and Irving latched on has fallen by the wayside, once again underscoring the considerable currency players hold in establishing the status quo. In making the public announcement yesterday, the Nets took pains to highlight that the development was agreed upon mutually, and that the parties noted the need for “another voice” to get them “to the next level.” Yet, it’s telling that they likewise conceded the result to be a “compromise that both Kenny and I and ownership came up with.”

Needless to say, Atkinson didn’t want to part ways with the Nets. That Marks presided over a news conference he didn’t attend is the first telling sign he’s not on board with the outcome. What bench tactician would not want to reap the fruits of his labor? The next season was supposed to be the first in which he stands to harvest the gains of his sacrifices. Instead, he was effectively given the boot because, in the opinion of other stakeholders, he doesn’t have as good a “voice” in feast as in famine. And forget about the platitudes Durant and Irving bestowed on him upon their arrival; if they truly wanted him to be their coach moving forward, he would be their coach moving forward. As the GM admitted yesterday, “I just got done talking with them now and updating them.”

Perhaps the Net did really have to make the change immediately, and not at the end of their 2019–20 campaign as planned. Perhaps the players had enough of Atkinson, whose predisposition for substitution patterns as dictated by circumstances grated on them. That said, there can be no devaluing his contributions; he led them to the playoffs last year, and then looked to be doing the same this season despite all the injuries and lack of lineup continuity. And it’s all right; it’s the prerogative — responsibility, even — of franchise owner Joseph Tsai and Marks to deal with the cards as dealt.

From here on, though, let it not be said that the Nets have superior culture. It may have been their biggest asset during Atkinson’s time. It’s no longer one from here on. They just proved they’re no different from the rest. It’s not right or wrong. It’s just how things now are for them, and far be it for them to be disingenuous and insist they’re still better in that regard. They know they took a step back yesterday, but they believe it’s what will have them taking two steps ahead. Point granted. The sooner they own up to it, though, the faster they will get to where they want to be.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and Human Resources management, corporate communications, and business development.

PHL may face up to $1.9B in GDP loss — ADB

THE Philippines may lose up to $1.939 billion in gross domestic product (GDP) due to the coronavirus disease (COVID-19) outbreak, the Asian Development Bank (ADB) said on Friday.

The ADB released the study titled “The Economic Impact of the COVID-19 Outbreak on Developing Asia” that showed best-case, moderate-case and worse-case scenarios for member-countries that are grappling with the spread of the COVID-19.

“The ongoing COVID-19 outbreak affects the (China) and other developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business travel, trade and production linkages, supply disruptions, and health effects,” the ADB said.

With the Philippines’ 2018 GDP of $330.91 billion as the basis, ADB said the Philippines may lose $1.93 billion in the worse-case scenario. This includes losses of $592 million in hotels and other tourism-related sector; $465 million in trade, and $414 million in transport services.

For the “worse case” scenario, the ADB expects restrictive policies such as travel bans to last for six months, coupled with two-percentage point drop for both China’s consumption and investment growth.

In the best-case scenario, the Philippine economy will face $669 million in GDP losses. The ADB study’s “best case” scenario is when travel bans and sharp decline in local demand will only last for two months starting late January and there is a moderate and short-lived decline in China’s consumption growth.

In a moderate-case scenario where travel bans start easing within three months, the Philippines will face $990 million in GDP loss.

A hypothetical “worst-case” scenario, where a significant outbreak occurs, would mean GDP losses of as much as $5.51 billion for the Philippines, the ADB said.

In the study, the ADB said member-countries that will be significantly affected by the COVID-19 outbreak are “those with strong trade and production linkages with China.”

“Other developing Asian economies such as Hong Kong, China; Mongolia; the Philippines; Singapore; Taipei,China; and Viet Nam will be materially affected by the COVID-19 outbreak. Many of these economies see a significant share of tourists from (China) and are affected through that channel as well,” it said.

In a moderate-case scenario, the ADB estimated the overall impact of COVID-19 on the Philippines was at 0.3% of GDP.

Many developing Asian countries will see a sharp decline in tourist arrivals and revenues, due to the numerous travel bans and precautionary behavior of many people.

The ADB said the Philippines is seen to lose tourism revenues of at least $801.4 million or equivalent to 0.24% of GDP in the “best case” scenario. For the “worse case” scenario, the Philippines may lose to $2.25 billion or 0.68% of GDP in tourism revenues.

A moderate scenario showed the Philippine tourism sector losing revenues of $1.16 billion or equivalent to 0.35% of GDP.

At the same time, the ADB said the outbreak may cut global GDP by 0.1 to 0.4%, with financial losses seen to hit between $77 billion and $347 billion.

Th ADB said China’s economic growth could be reduced by 0.3% to 1.7% this year. For developing Asia, excluding China, economic growth could be cut by 0.2 to 0.5%.

The Philippine government, through the Department of Finance, is considering to avail loan packages from multilateral lenders to finance its efforts in containing the spread of the disease.

CUT IN GROWTH FORECAST
Meanwhile, S&P Global Ratings has lowered its Philippine growth forecast for 2020, as it factored in wider losses for Asia-Pacific economies amid the prolonged spread of the COVID-19.

In a note sent to reporters on Friday, S&P again trimmed its GDP growth forecast for the country to 5.8% from the already lowered 6.1% it gave earlier in February.

If realized, S&P’s outlook is even lower than the 5.9% growth the Philippines recorded in 2019, and also below the government’s 6.5% to 7.5% target this year.

“At face value, emerging markets such as Indonesia, Malaysia, the Philippines, and India appear somewhat insulated. Exposure to China varies but the dependence on large people flows and supply chains is quite low,” S&P said.

While there are few reported cases in the Philippines and other emerging markets, S&P said this is “likely due, in part, to minimal testing.”

“While this may limit the immediate impact on households and firms, it will do little to inhibit the spread of the virus where it is present. In turn, this could at some point have substantial supply-side effects if a large share of the workforce either falls ill or needs to stay at home to care for sick relatives. Weak healthcare infrastructure will make it hard to arrest spread and keep case fatality rates low, and this could have damaging effects on household and business confidence,” the credit rater said.

The Philippines reported two new coronavirus cases, including a 62-year-old Filipino male who did not travel outside the country. This brought the total confirmed cases in the country to five.

S&P said it also considered the possibility of more policy easing within the region as the virus drags on.

“Risks remain on the downside and are non-linear for Asia’s emerging markets that face healthcare constraints and tighter financial conditions,” the global debt watcher said.

MORE PAIN FOR ASIA-PACIFIC
The coronavirus outbreak could knock $211 billion off the combined economies of the Asia-Pacific, with Japan, Hong Kong, Singapore and Australia among the most exposed, S&P said.

S&P cut its 2020 growth forecast for China to 4.8% from previous estimate of 5.7%. It forecast Australian growth to slow sharply to 1.2% from an already below-trend 2.2% in 2019. Japan would take 0.5 percentage point hit and Korea a 1 percentage point knock.

“The balance of risks remains to the downside due to local transmission, including in economies with low reported cases, secondary transmissions in China as people return to work and tighter financial conditions,” S&P said in a report.

In other forecasts, Hong Kong’s economy would likely contract by -0.8% in 2020, Singapore’s would flat line, and Thailand’s expansion likely slow to 1.6%.

The coronavirus epidemic, which emanated from China’s Hubei province, has claimed more than 3,000 lives worldwide in less than three months, prompting monetary policy easings in major economies including the United States. — B.M.Laforga and Luz Wendy T. Noble with Reuters

Philippine dollar reserves inch up in February

THE COUNTRY’S dollar reserves inched up in February, driven by inflows from the government’s net foreign currency deposits and the central bank’s foreign exchange operations.

The healthy level of GIR in February will provide some cushion for the economy amid worries over the prolonged spread of the coronavirus disease (COVID-19), according to analysts.

Gross international reserves (GIR) as of end-February stood at $87.606 billion, higher compared to the January level of $86.868 billion as well as the $82.78 billion traced in the same month of 2019, according to preliminary data released by the Bangko Sentral ng Pilipinas on Friday.

At this level, the GIR is beyond the $86-billion target GIR set by the central bank for 2020.

“The month-on-month increase in the GIR level reflected inflows arising from the National Government’s (NG) net foreign currency deposits and BSP’s net foreign exchange operations. These inflows were partly offset, however, by payments made by the NG for servicing its foreign currency debt obligations,” the central bank said.

The GIR level in February can cover 7.7 months’ worth of imports of goods and services and payments of primary income.

Likewise, the GIR level is equal to 5.4 times the country’s short-term external debt based on original maturity and 3.8 times based on residual maturity, the BSP added.

According to preliminary data, the central bank’s gold reserves, which is included in the country’s dollar buffer, was steady at $8.015 billion for the ninth straight month since June 2019. It was however lower compared to the $8.359 billion traced in end-February 2019.

Meanwhile, gains from foreign investments stood at $75.375 billion, surpassing the $74.364 billion seen in the previous month and the $70.37 billion posted in the comparable year ago period.

On the other hand, reserve position placed with the International Monetary Fund (IMF) dipped to $586.4 billion from the $587.9 billion seen as of end-January, but still higher than the $472.4 billion traced as of end-February 2019.

Foreign currency deposits also slipped to $2.451 billion from the $2.723 billion level seen in the prior month. However, it was still bigger than the $2.388 billion seen a year ago.

Meanwhile. special drawing rights — or the amount which the Philippines can tap from the IMF’s reserve currency basket — inched up to $1.178 billion from the $1.176 billion as of end-January, but was lower compared to the $1.191 billion in end-February 2019.

The country’s net international reserves — which refers to the difference between the BSP’s GIR and total short-term liabilities — also rose by $740 million to $87.6 billion from the end-January level of $86.86 billion.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said that that the sustained increase in GIR bodes well for the peso’s resilience amid market volatilities due to global uncertainties.

“The consistent increase in GIR in recent months to sustain among record highs may have fundamentally provided a comfortable cushion on the peso exchange rate, considered resilient compared to other Asian currencies in recent weeks amid some increased volatility in the global financial markets,” he said in an e-mail.

Mr. Ricafort attributed the higher GIR to the rise in dollar inflows, thanks to remittances, and revenues from business process outsourcing, the Philippine Offshore Gaming Operators, tourism revenues, as well as foreign investments.

UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said the current GIR levels will provide a safety net for the economy amid risks from the prolonged spread of the COVID-19 virus.

“A high GIR affords the Philippine economy a bigger space to protect the peso from any potential currency shock because of the health scare,” he said in an e-mail.

“These reserves are meant to fight off the negative perceptions against the value of the peso amidst the onslaught of uncertainties due to the coronavirus scare,” he added. — Luz Wendy T. Noble

WTO suspends consideration of PHL retaliation vs Thailand

By Jenina P. Ibañez, Reporter

THE World Trade Organization (WTO) suspended consideration of Philippine retaliation against Thailand in a 12-year trade dispute.

The dispute settlement meeting was held on March 5, following delays after Thailand opposed the agenda item.

Trade Secretary Ramon M. Lopez said in a mobile message that they will continue to pursue the issue with the WTO.

He said that the trade department will continue to ask the WTO for approval to retaliate against Thailand for non-compliance with a WTO ruling that favored the Philippines.

The Philippines first complained in 2008 of Thailand’s customs valuation of Philippine cigarette exports.

The trade department in November 2019 said it may impose retaliatory measures against Thailand’s automotive exports to the Philippines, including possible tariff or quantitative restrictions.

Following the suspension of the consideration, Mr. Lopez said that he is also open to consulting with the WTO on non-retaliatory measures to settle the dispute.

Thailand in a statement during the dispute settlement meeting said that the Philippine request ignores procedural rules, as it was made outside of the timeframe prescribed by the WTO.

“Thailand does not want the work of the DSB (dispute settlement body), including the adoption of pending reports, and consideration of efforts to unblock the Appellate Body selection process, to be impacted unnecessarily as a result of the Philippines’ unilateral actions.”

Thailand asked the WTO not to authorize the Philippines to suspend its concessions to Thailand during the meeting, and added that the objection stems from concerns about the WTO’s appellate body.

“We also reiterate that the real issue here is the Appellate Body crisis, not any individual dispute. As Thailand stated at the General Council on Tuesday, the Appellate Body crisis has imposed significant challenges on the rules-based system, including with respect to pending disputes,” the statement said.

“The outcome of the pending disputes will be deprived of any credibility if they are driven by the unilateral actions of a single party, in this case the Philippines.”

WTO’s appellate body is currently in crisis, as it was effectively suspended on Dec. 10, 2019 after the United States blocked the appointment of new appellate judges.

The Philippine Mission to the WTO, after Thailand had earlier declined to discuss the ongoing dispute, said that that the Philippines has been following WTO rules, adding that the Thai move was “a transparent attempt by Thailand to prevent the Philippines from exercising its rights.”

DoH confirms two more COVID-19 cases in PHL

THE Department of Health (DoH) confirmed on Friday that there were two additional confirmed cases of the coronavirus disease 2019 (COVID-19) in the Philippines, bringing the total number of cases to five.

The patients are a 48-year-old male Filipino who travelled to Japan, and a 62-year-old male Filipino with known hypertension and diabetes mellitus, Health Secretary Francisco T. Duque III said at a briefing.

“The fourth confirmed case is a 48-year-old male Filipino with travel history to Japan. The patient returned to the Philippines last Feb. 25 and experienced chills and fever beginning March 3,” the Health Secretary said, adding that the patient is currently stable at the Research Institute for Topical Medicine (RITM).

Meanwhile, the fifth confirmed case sought medical consultation at a hospital in Metro Manila on March 1 and was admitted with severe pneumonia. Samples were collected on March 4 and tested positive for COVID-19 on March 5.

It was also reported that the fifth case has no known history of travel outside the country, but Mr. Duque said it cannot yet be considered as a case of local transmission of COVID-19 for now.

“Well there is no transmission to speak of as of yet, because we only have one. That’s why we’re doing contact tracing… But now it’s premature to say that there is local transmission,” he said.

The patient was known to have regularly visited a Muslim prayer hall in Barangay Greenhills, San Juan City.

The city already ordered the temporary closure of the prayer room, said a statement posted on the official Twitter page of San Juan City Mayor Francis Zamora.

“I have already instructed the San Juan City Health Office, with the support of the Department of Health, to immediately disinfect, sanitize, and close to the public temporarily the prayer room in Barangay Greenhills, which was frequented by a patient who lives in a municipality near Metro Manila whom the DoH has confirmed positive with coronavirus (COVID-19),” he said on Friday.

The DoH said that contract tracing is currently being done for both cases and samples have already been collected from close contacts.

The department is also in close coordination with the concerned Local Government Units on identifying persons who had interactions with the confirmed cases, and strengthening of infection prevention and control protocols.

“These recent developments are significant, but we are prepared to respond to its potential consequences. Our priority is to protect our health workers and the most vulnerable populations,” the Health Chief said.

“We can still contain the spread of the virus in the country, which is why we are encouraging the public to practice proper handwashing, social distancing, and cough etiquette. We call on the public to be vigilant and continue doing their part in containing the disease,” he added.

Prior to the two new cases, the Philippines reported that three Chinese nationals tested positive for COVID-19 while in the country. One died, while the other two recovered.

Meanwhile, the DoH also received reports of three confirmed COVID-19 cases among foreign nationals who had a history of travel to the Philippines.

The first is a 38-year-old Taiwanese male who visited the Philippines from Feb. 28 to March 3. The patient consulted at an outpatient clinic in Taiwan on March 4, and was confirmed positive for COVID-19 on March 5.

“The onset of symptoms on March 2 points to possible infection before the patient traveled to the Philippines,” the Health Secretary said.

The second case is a 44-year-old Japanese male who visited the Philippines from Feb. 21 to 28. Prior to visiting the Philippines, he traveled to Cambodia, Vietnam, Thailand, and Japan. He stayed at three different hotels during his stay in Metro Manila.

“He flew back to Japan last March 4 and was tested positive for COVID-19. The patient was admitted and is still in isolation at Aichi Prefecture Hospital. The extensive travel history of the patient suggests possible contraction of the disease in another country,” Mr. Duque said.

The third is a female living in Sydney, Australia. The patient attended a wedding in Manila on Feb. 13 and visited Pangasinan.

“The patient left the country for Sydney on March 2, and was confirmed with COVID-19 by the New South Wales Government on March 3. As for this case, DoH is still verifying information with the International Health Regulation National Focal Point Australia,” the Health Secretary said.

As of writing, the virus has killed more than 3,300 people and sickened 97,000 more, mostly in China, according to the World Health Organization. — Genshen L. Espedido

Filipino linked to money laundering indicted in Pasay City

THE Pasay City Prosecutor is indicting a Filipino who was recently linked to the laundering of millions of pesos in foreign currency. He is being charged for not declaring the amount of money he brought into the country last September.

A document dated Feb. 24 obtained by reporters on Friday from the Department of Justice (DoJ) Office of the City Prosecutor of Pasay City, said that the court finds probable cause to file charges against Simon John G. Rodriguez. The resolution of the Pasay City Prosecutor states that Mr. Rodriguez “allegedly failed to declare possible bundles of money” worth $700,000 or over P35 million.

“After examination of the bundles of money at the Conference Room, NAIA Customs Building, an inventory was conducted and revealed the total amount of Seven Hundred Thousand US Dollars (USD700,000.00),” the resolution said.

Mr. Rodriguez was found “violating Section 1401 (e) of R.A. 10863 (Customs Modernization and Tariff Act or CMTA) in relation to BSP (Bangko Sentral ng Pilipinas) Circular No. 308 series of 2001 under R.A. 7653 (New Central Bank Act).”

BSP Circular No. 308 states that those who enter or leave the Philippines must declare in writing that they are transporting foreign currency worth over $10,000.

Mr. Rodriguez and his family are alleged to have served as mules for laundering millions of pesos, as revealed by Senator Richard J.Gordon at the Senate Blue Ribbon Committee on Thursday. Mr. Gordon said that Mr. Rodriguez and six members of his family were discovered to have brought in $633 million in cash from various Asian countries over the course of seven months.

The seven Rodriguezes have been subpoenad by the Senator to appear before the next Blue Ribbon Committee hearing on the matter on March 12.

GIVE LAW MORE TEETH
Meanwhile, the Department of Finance (DoF) has asked Congress to give the law “more teeth” when it comes to examining suspiciously large sums of money coming into the country by lifting “stringent bank secrecy laws.” This after lawmakers raised concerns over the P19.7 billion ($389.6 million) in foreign currencies that entered the country for alleged money-laundering activities.

“They do this because they can. Our laws have no teeth to investigate and prosecute these activities effectively. We don’t have enough tools to know where all this money is going, without being hamstrung by stringent bank secrecy laws,” Finance Secretary Carlos G. Dominguez III said in a speech during the Bureau of Local Government Finance’s oath-taking of local treasurers on Friday.

Mr. Dominguez said the country’s anti-money laundering law remains “weak” as tax evasion and other financial cases do not fall under the list of “predicate crimes” where the Anti-Money Laundering Council (AMLC) could look into the suspected bank accounts with a court order.

“This leaves us powerless in going after tax evaders and other criminals using funds for other illegal activities,” Mr. Dominguez added.

Later that day, he said at a press conference that bringing in large amount of currencies into the country is “not illegal” as long as these are declared, so he asked the legislators to pass a law that will strengthen safeguard measures against this.

“So you want to make it illegal, we are sworn to implement all the laws that are in the country, but we cannot implement things that are not in the law or else we will be accused of over-stretching,” he said.

“If people are concerned, pass a law, we will implement. You don’t want POGOs (Philippine offshore gaming operators)? Pass a law,” he added.

He said the $389.6 million which legislators have raised concerns about is equivalent to the volume traded in the foreign exchange market for three hours, considering an average of $1 billion of currencies traded per day.

“I’m not saying it’s not big, but you have to put it in proportion of what is the total foreign exchange being traded every day, it is equivalent to three hours of trading, roughly. I’m not saying it’s not dangerous, but in fact, it is not illegal,” he told reporters.

During a recent hearing on POGOs, Senator Gordon criticized regulators for failing to immediately investigate these large sums of money that could have been laundered by Chinese nationals into the country easily.

“The money had been spent and circulated around the world and you did nothing… You defeat the purpose of the law,” Mr. Gordon told representatives of the AMLC.

For Mr. Dominguez, easing the bank secrecy laws as well as amendments on the anti-money laundering law will give regulators “more teeth” to battle against tax evasion and other financial crimes, including money-laundering activities. — Gillian M. Cortez and Beatrice M. Laforga

Sandiganbayan junks appeal vs Marcos cronies

THE anti-graft court junked the Philippine government’s appeal on the dismissal of a P267-million ill-gotten wealth case against cronies of former President Ferdinand E. Marcos and his wife Imelda R. Marcos, deeming the documentary evidence presented to be insufficient as they were not original documents.

“The Court finds that the Republic has failed in its burden of proving its case against the Spouses Gimenez (Fe R. Gimenez and Ignacio B. Gimenez) by preponderance of evidence and consequently, the present civil forfeiture case should be dismissed,” the Sandiganbayan said in its decision promulgated on Jan. 23.

The Office of the Solicitor General (OSG) and the Presidential Commission on Good Government (PCGG) asked the Court to take a look into the “nature, character and probative weight” of the documentary evidence that it had presented, as this would show that most of its evidence were “not mere photocopies, but rather authenticated true copies of the original.”

The Sandiganbayan, however, was not persuaded, saying that the pieces of evidence on the Marcoses’ ill-gotten wealth “remain as private documents and do not become part of public records.”

“Not having attained the status of certified public records… the photocopies that the Republic has submitted as exhibits amount to a violation of the best evidence rule which requires that the original document must be produced whenever its contents are subject of the inquiry,” the Court said.

Likewise, the Sandiganbayan was not convinced on the prosecution’s claim that “sufficient evidence had been submitted to prove that the assets of the Spouses Gimenez are manifestly disproportionate to their source of income.”

“As correctly pointed out by the Spouses Gimenez, there is insufficient evidence to prove that the properties listed under the name of the Spouses Gimenez were ill-gotten,” it said.

“The PCGG’s power to sequester alleged ill-gotten properties is likened to the provisional remedies of preliminary attachment or receivership. In the same way that the lifting of the sequestration order does not mean that the property is not ill-gotten wealth, the fact that a property has been sequestered cannot be taken as proof that the same is already ill-gotten wealth,” the Court added.

The Court affirmed its decision to dismiss the case promulgated in October 2019. Under Civil Case No. 0007, Ms. Gimenez was accused of participating in the transfer of “millions of dollars of government funds into several accounts in her name in foreign countries,” disbursing these funds to her co-defendants, and “acted as a conduit” of the Marcoses in the purchase of expensive works of art and properties in New York, USA.

Her husband, on the other hand, was accused of acting as a dummy of the Marcoses in corporations such as Allied Banking Corp. — Genshen L. Espedido

BIR goes after cockfighting group for P1.30-B in unpaid taxes

THE Bureau of Internal Revenue (BIR) has temporarily halted the operations of the Manila Cockers Club, Inc. (MCCI) for not paying proper taxes. It also sealed some of MCCI’s unregistered ticket-dispensing machines on Thursday.

Citing a report from the bureau, Finance Secretary Carlos G. Dominguez III told reporters via Viber that MCCI has P1.3 billion of unpaid taxes and that it has no registered automated ticket dispensing machines in any of its 132 locations nationwide.

As of Thursday evening, “51 machines were simultaneously sealed by 20 teams in 19 locations in Quezin City,” Mr. Dominguez said. The operation was led by Deputy Commissioner Marissa O. Cabreros.

Ms. Cabreros explained that using unregistered machines is subject to corresponding penalties and liabilities since businesses are mandated to register their machines with the BIR for proper monitoring of sales and transactions.

She added that if the company attempts to operate the sealed machines again, they will “incur further penalties and liabilities by altering a formal government activity that was properly done by sealing those unregistered machines.”

Sought for comment, MCCI has not responded as of press time.

“What we did is what we call constructive seizure by sealing it, may notice na nakalagay, may pirma para hindi maalter ’yung seal na ginawa, at hindi na nila magamit (a notice was placed on them with a signature so the seal cannot be altered and the machine can no longer be used) until such time that they properly comply with the registration requirement of the BIR,” Ms. Cabreros told reporters.

However according to its website, MCCI claims that it “is the only cockfighting event entity that pays taxes due to its legal operations.”

“[MCCI] licenses were granted by the local government unit (LGU) of Carmona, Cavite. The permits of MCCI ‘off cockpit betting stations’ are granted by LGUs where they operate as mandated by the cockfigthing law,” the website read.

Without disclosing the exact figure, Ms. Cabreros had said the company faces “billions of liabilities.” — Beatrice M. Laforga

Survey says: 81% satisfied with Duterte Administration

THE majority of Filipinos — 81% — were satisfied by the performance of President Rodrigo R. Duterte’s administration, according to the latest Social Weather Stations (SWS) poll.

Meanwhile, 12% of Filipinos were neither satisfied nor dissatisfied, while 7% were dissatisfied with the government’s performance, the polling firm said in a statement released on Thursday.

“This is up by six points from the very good +67 in September 2019, and matches the record-high excellent +73 in June 2019,” it said.

Out of 16 performance subjects, the government was rated “very good” on seven subjects, “good” on six subjects, and “moderate” on three subjects, the SWS said in its Governance Report Card.

“The National Administration’s net satisfaction rating was very good on: Helping the poor (+64), Fighting terrorism (+61), Providing information needed by the citizens to properly examine what the government is doing (+58), Having clear policies (+56), Developing a healthy economy (+53), Reconciling with Muslim rebels (+51), and Protecting the freedom of the press (+50),” it said.

The surveyed Filipinos also said the Duterte administration was good in fighting crimes (+49), reconciling with communist rebels (+48), in foreign relations (+47), acting according to what the people want (+45), defending Philippine sovereignty in the West Philippine Sea (+32), and eradicating graft and corruption (+31).

Meanwhile, the government got moderate ratings on ensuring that no family will ever be hungry (+29), recovering the “hidden wealth” stolen by Marcos and his cronies (+25), and fighting inflation (+12).

“The December 2019 survey found the National Administration’s net satisfaction rating up by one grade on five specific subjects, down by one grade on one subject, and steady on 10 subjects, compared to when they were last surveyed,” the poll said.

The government also got an excellent rating in Metro Manila, the rest of Luzon, Visayas, and Mindanao.

SWS interviewed 1,200 adults nationwide from Dec. 13 to 16 for the poll with an error margin of ±3% points. — Genshen L. Espedido

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