By Arra B. Francia

PRESIDENT Rodrigo R. Duterte set foot in the Philippine Stock Exchange (PSE) for the first time as the country’s chief executive on Tuesday on the occasion of the 10th listing anniversary of Phoenix Petroleum Philippines, Inc., reminding businessmen to do their share in improving the nation’s economic and social landscape.

“It’s not only about money: it’s about improving the landscape… economic [and] social — and really until now, [addressing] the prevalence of corruption,” Mr. Duterte said in impromptu remarks that were laced with the usual invectives against critics.

Zeroing in on the problem of corruption — a nagging blight on the country’s investment promise according to Transparency International’s Corruption Perceptions Index 2016, The Heritage Foundation’s latest Index of Economic Freedom and the US State Department’s Investment Climate Statements for 2017, among others — Mr. Duterte told his audience at the PSE: “Kung kayo nasa gobyerno (If you deal with government), any slightest intimation of graft, sabihin mo na agad (report it at once).”

“Alam ninyo, ang makakahinto ng corruption sa gobyerno, kayo lang, sa totoo lang. (To tell you the truth, you are the only ones who can stop corruption in government),” he emphasized.

“… Kaya nga dito, I’m trying to appeal to you sa corruption. But little by little mangyayari ‘to (we will get rid of it).”

Mr. Duterte said he repeatedly reminds cabinet men that he can promptly dismiss anyone he appoints at the slightest whiff of corruption. Earlier this year, he had dismissed Ismael D. Sueno as chief of the Department of Interior Local Government while his presidential campaign spokesman, Peter T. Laviña, resigned as National Irrigation Administration head, both on mere suspicion of corruption.

“Lahat ng appointed ko, kaya kong paalisin (All those I appointed, I can fire anytime).”

Turning to another concern that has increasingly entered the radar screen of some credit raters and bank analysts, Mr. Duterte told his audience yesterday that he expects conflict in Marawi — which erupted on May 23 — to take “15 more days” to resolve.

He then turned to a speech prepared for him on the 10th listing anniversary of Phoenix Petroleum Philippines, Inc., the oil company of Davao-based businessman Dennis A. Uy, a known supporter of the president. “As mayor of Davao City, I personally witnessed how the business improved as a single gasoline station in the city into one of the fastest-growing oil companies,” Mr. Duterte said.

Phoenix Petroleum now has more than 500 gasoline stations nationwide, and is one of the dominant players in the Visayas and Mindanao region.

“I am also grateful that we continue to share in (the company’s) socio and civic plans for the local economy,” the president said.

In celebration of Phoenix Petroleum’s 10th anniversary as a public company, Mr. Uy announced that his group will establish a P100-million mutual fund for soldiers and policemen, including their families. The fund called “LIFE” will offer financial security to uniformed personnel and their families. “The LIFE Fund is our commitment of support to our military and police, who protect and defend us with their lives. Without their efforts to keep peace, we will not be here celebrating milestones in our companies,” Mr. Uy said in his speech.

The president was scheduled to ring the closing bell along with the officials of Phoenix Petroleum, PSE, and the Securities and Exchange Commission, but was almost an hour late for the ceremony. He went on to ring the bell anyway.

Phoenix Petroleum was one of PSE’s biggest gainers yesterday, its share price jump- ing 5.04% to close at P10.22 apiece against the PSE index’s 0.26% rise and the 0.05% decline of the industrial index under which the company’s shares are classified.

Mr. Uy — one of the financiers of Mr. Duterte’s successful presidential bid in 2016 — will soon see another one of his companies join the bourse, after the Securities and Exchange Commission yesterday approved Chelsea Logistics Corp.’s P8-billion initial public offer.

How helpful will Mr. Uy’s long-time association with the president be to his business plans?

“My two cents is that this is an opportunity for Mr. Uy to send a message to the business community at large. That message is that he is close to the president,” PNB Securities President Manuel Antonio G. Lisbona said in a mobile phone message.

For Summit Securities President Harry G. Liu: “He is a friend of the president, but that does not mean that he (Mr. Duterte) is going to do (Mr. Uy) favors.”

“But it will definitely help this businessman.”

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