Feb 262015
 
Basic Energy, Trans-Asia ink farm-in deal for Mabini project

MANILA, Philippines – Basic Energy Corp., a listed oil and gas company, and Trans Asia Oil and Energy Development Corp., the power generation arm of the Phinma Group, have signed a farm-in agreement and deed of assignment covering a geothermal service contract in Mabini, Batangas. In separate disclosures to the Philippine Stock Exchange (PSE), Trans-Asia and Basic Energy said the agreements provide for Trans-Asia’s acquisition from Basic of 25 percent participating interest in geothermal service contract (GSEC) 8 dated July 10, 2008. “As part of its farm-in obligation, Trans-Asia completed a comprehensive gravity geophysical program in the area of interest. Under geothermal service contract No. 8, one exploratory well is committed to be drilled by the third quarter of this year,” Trans-Asia said in its disclosure. The assignment of interest is subject to the approval of the Department of Energy, the two companies said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Feb 262015
 
2 Fil-Ams team up in bid for Cerritos City Council

Mayor Mark Pulido and Frank Aurelio Yokoyama CERRITOS – Being longtime friends and sharing fresh ideas for the city where they were both raised, it was inevitable that Mayor Mark Pulido and Frank Aurelio Yokoyama would team up in their campaign for two of three seats in the Cerritos City Council being contested in the March 3 elections. Pulido is seeking a second four-year term while Yokoyama is hoping to get elected for his first four-year term in the City Council. Nine candidates, including an incumbent (Pulido) and two former council members (Jim Edwards and Grace Hu), are contesting the three council slots. Incumbents Bruce Barrows and Joseph Cho are vacating their seats because council members are limited to two consecutive terms. The “homegrown team” of Pulido and Yokoyama shares goals of improving public safety and reducing crime, improving streets and parks, and balanced budgets and fiscal accountability for the city of Cerritos. Both 46, Pulido and Yokoyama were raised in Cerritos and are now raising their respective family in the city they call their hometown. Pulido, who is district director in the office of Congressman Alan Lowenthal, takes pride in being the first Filipino-American to serve as mayor of Cerritos.  During his one-year term as mayor, Pulido led efforts that resulted in a 35-percent drop in residential burglaries; fought to repair streets, sidewalks and trim more than 15,000 trees; and balanced the budget while preserving programs and services. Pulido was elected to the Cerritos City Council in March 2011. Read More …

Feb 262015
 
Wescom chief: We will fight for Pag-asa island ‘until our last breath’

Western Command chief Vice Admiral Alexander Lopez and the soldiers stationed in Pag-asa island (Thitu) in the West Philippine Sea (South China Sea). PAG-ASA ISLAND, Philippines — Western Command chief Vice Admiral Alexander Lopez, who visited the far-flung community in Pag-asa (Thitu), on Wednesday said that the Philippines will continue to fight for the island, one of the many disputed territories in the West Philippine Sea (South China Sea). “Your stay here will sustain our effective presence na atin ito. Teritoryo ito ng Pilipinas at pangangalagaan ko. That makes your duty here patriotic again being your commander of Western Command, with due respect to the Coast Guard, hindi natin papabayaan mawala itong territory ng Pilipinas. Come hell or high water, it will remain as such. We will fight ‘til our last breath,” he said in his talk to men. (Your stay here will sustain our effective presence. This is Philippine territory and I will protect this. That makes your duty here patriotic again being your commander of Western Command, with due respect to the Coast Guard, we will not let this territory slip Philippine sovereignty. Come hell or high water, it will remain as such. We will fight ‘til our last breath.) Lopez and other Wescom officials, some members of the local provincial government of Palawan, visited Pag-asa on Wednesday to celebrate the 1986 Edsa Revolution and the Wescom anniversary. During the visit, a cultural presentation was held, a Mass, a flag-raising ceremony, and gift-giving to residents and soldiers. Children Read More …

Feb 262015
 
Daniel Matsunaga to Heart and Chiz: All the best

Daniel Matsunaga is happy about the recent wedding of his ex-girlfriend Heart Evangelista to Senator Francis “Chiz” Escudero. Philstar.com/ Joyce Jimenez MANILA, Philippines – Daniel Matsunaga congratulated his ex-girlfriend Heart Evangelista who recently tied the knot with Senator Francis “Chiz” Escudero.” Daniel and Heart were together for almost two years until they mutually decided to end their relationship. “Kilala ko siya and I know everything she passed through in her life and masaya siya ngayon,” Daniel said about Heart, in an interview on Wednesday. “So I’m very happy po, I’m very happy for Chiz also, I met Chiz already. I really wish them all the best.” Daniel is single for three years now, and although he’s ready to enter a new relationship “siguro ngayon focus muna ako sa trabaho ko,” he said. He also clarified reports that romantically links him and his “Two Wives” co-star Erich Gonzales. The Kapamilya model-actor said they’re close friends, which started when they guested for the Palawan episode of “Kris TV.” “Tsaka siyempre respeto ko [rin] sa boyfriend niya,” he adds, referring to Erich’ non-showbiz boyfriend. Entertainment ( Article MRec ), pagematch: 1, sectionmatch: 1 Their show is down to its last three weeks, where the viewers will finally know what will happen to the lives of Janine, Yvonne, Victor, Albert, and Kenjie. It airs Monday to Friday, after “Forevermore.”

Feb 252015
 
Petron fuels, lubes: The perfect match for your ride

AS THE only and biggest Filipino refiner, Petron has a deep understanding of the unique driving conditions on Philippine roads, and Petron takes pride in formulating products that will deliver optimum efficiency for Filipino motorists. For the growing two-wheel market, Petron has the right fuels and engine oils that are the perfect match to bring out the best in your ride. Engine oils are essential to ensure efficient engine operation. They have two primary functions: to minimize friction and to prevent wear on the moving parts of engines. In addition, engine oils also act as a coolant, protect metal parts from corrosion, and prevent formation of engine deposits. Petron Sprint 4T Motorcycle Oils are designed to meet the unique performance requirements of four-stroke motorcycles. Unlike passenger cars, motorcycle engines require lower oil volume, have higher power output, and operate at higher engine speeds. With these special considerations in mind, Petron Sprint 4T is formulated with Thermal Control System (TCS) to enhance the oil’s thermal and oxidation stability, which are critical for motorcycle engines due to their unique operational requirements. All Petron Sprint 4T oils are offered in different viscosity grades and quality levels to cater to different operating conditions, and have been uniquely formulated to be among the best in the market. Petron Blaze 100 Euro 4: Meets European Quality Standards is a revolutionary fuel formulated to unleash the full potential of high-performance engines. As the only Euro-4 compliant fuel with 100-octane rating, it delivers powerful performance while meeting stringent Read More …

Feb 252015
 
Ex-congressman Valdez taken to PNP hospital on Sandiganbayan's order

The anti-graft court Sandiganbayan has ordered that former party-list congressman Edgar Valdez be taken to the Philippine National Police General Hospital in Camp Crame. Valdez, who’s facing plunder charges in connection with his alleged involvement with the pork barrel scam, earlier told the court that he was suffering from several illnesses. The Sandiganbayan has yet to rule on Valdez’s motion that he be detained at the PNP Custodial Center because of its proximity to a hospital, in apparent reference to the PNP hospital. “This is without prejudice to the court’s action on his motion re his place of detention,” Sandiganbayan Presiding Justice Amparo Cabotaje-Tang told GMA News Online in a text message. Tang signed the transfer order as justices of the Fifth Division, which is handling Valdez’s plunder case, were hearing cases out of town. Valdez left Sandiganbayan around 9:30 p.m. with police escorts. Valdez, who surrendered to the sheriff of the Sandiganbayan on Wednesday, said he needed easy access to a hospital for regular monitoring of his health. He was temporarily detained at the Sandiganbayan before the order to be taken to the PNP hospital. “On July 8, 2013, Valdez was diagnosed with Lumbosacral Spondylosis with multilevel disk duldge (posterior and intraosseus) and L1-L2 disk space narrowing; foreign body (bullet) embedded in the L2 vertebral body with left lateral wedged shape compression deformity. The condition limits the mobility of Valdez and likewise necessitates regular and immediate medical attention. Should the Honorable Court order his detention at the PNP Custodial Read More …

Feb 252015
 
Purisima admits he informed Aquino about Mamasapano incident, SAF casualties

Foreign Affairs Undersecretary Evan Garcia and Eduardo Oban Jr., take their oath as they appear in the Senate probe on the Mamasapano incident for the first time. In between Garcia and Oban is former PNP Chief Alan Purisima. (MNS photo) MANILA (Mabuhay) – Resigned Police Director General Alan Purisima finally admitted during a Senate hearing on Monday that he was the one who informed President Benigno Aquino III of the Special Action Force (SAF) raid on Mamasapano, Maguindanao, last Jan. 25. During the last hearing of the Senate committee on public order, joint with committees on peace, unification and reconciliation, and finance last Feb. 12, Purisima refused to say who informed Aquino about the raid, saying he has yet to get clearance from the President. But when he returned to the Senate this Monday, the resigned police chief readily obliged when Senator Grace Poe, who heads the hearing, asked him to read his exchange of text messages with the President on Jan. 25. Purisima said he began texting the President at 5:45 a.m. of Jan. 25 when he informed him that terrorist Zulkifli bin Hir, alias Marwan, had been killed and that a SAF trooper was wounded in the encounter. “The body of Marwan was left behind but pictures were taken,” he said, reading his text message to the President. He said the President replied at 7:36 a.m: “Why was its left behind, the other two targets?” Aquino was apparently referring to Marwan and the other suspected terrorist, Abdul Basit Read More …

Feb 242015
 
Banks get passing grade from BSP

MANILA, Philippines–Local banks have enough buffers to weather massive loan defaults, which will help ensure the economy stays stable in the event a major crisis takes place, however unlikely. Recent simulations show the banking industry, as a whole, have enough capital to withstand “extreme but plausible” bouts of stress that may affect their balance sheets, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said. The central bank’s stress tests were designed to mimic past conditions, such as the Asian Financial crisis in the late 1990s, or future bouts of stress that may arise due to conditions overseas. Tetangco said the recent stress tests indicated that banks, with their current capital buffers, should be able to withstand significant hikes in interest rates abroad and a sharp depreciation in the peso, which could affect the ability of borrowers to make payments. Banks also have enough buffers to absorb massive defaults in their real estate portfolios, he added. “They remain above the minimum capital requirement,” Tetangco told reporters on Tuesday. He said different banks passed these tests in varying degrees: some got through comfortably, while others emerged near the threshold. But Tetangco stressed that none failed the tests that were conducted using 2014 data. “There’s a continuing regulatory discussion and consultation between the BSP and the banks,” he said. Stress tests are part of the BSP’s continuing effort to ensure the stability of the financial system. These tests are done by stimulating the effects of losses that eat into banks’ capital Read More …

Feb 242015
 
SSS membership up by 11.5% to 32.1 million

THE Social Security System (SSS) membership, including overseas Filipino workers, increased by 11.5 percent in the past four years to 32.1 million in 2014 from 28.8 million in 2010. Data showed that employed members increased by 18.1 percent in the past four years to 23.5 million in 2014 from 19.9 million in 2010. OFWs registered the largest increase at 42.9 percent to one million from around 700,000. There was also a significant increase among voluntary members at 37.5 percent to 3.3 million from 2.4 million. However, self-employed members dropped by 23.2 percent to 4.3 million in 2014 from 5.6 million in 2010. Marissu G. Bugante, SSS vice president for public affairs, said during a press briefing at Grand Men Seng Hotel on Monday night that the increase in SSS membership shows that more and more Filipinos are getting proper jobs brought by the recent economic growth in the country. In order to address the increasing number of members, SSS is set to open five new branches and another five service offices within this year. However, Bugante said she still does not have the information as to where these branches and service office will be set up. Recently, they opened their SSS Ilustre Branch at Giasano Grand Mall, which offers all of the SSS services except for their e-center. For 2014, Bugante said they have opened a total of 25 branches, 13 service offices, and three foreign representatives in Muscat, Oman; Tokyo, Japan; and Toronto, Canada. She said they will continue Read More …

Feb 242015
 
Philippine team sacks US import for Pacquiao insult

Philippine basketball authorities have sacked and fined an American import for ridiculing national boxing hero Manny Pacquiao’s quest to become a professional basketballer. Former NBA player Daniel Orton hit the headlines last week after playing against Pacquiao in the local pro-league, a game in which the 1.69-metre (5 foot-6 inch) boxing champion scored a solitary point. “Professional boxer, yeah, okay… professional basketball player, no. It’s a joke,” said Orton, 24, who signed with the Purefoods Hotshots team just this month. Orton appeared to simply be adding his voice to widespread criticism in the Philippines that Pacquiao is a relatively talentless basketballer who gained his coaching-playing role with the Kia Carnival team because of his boxing fame. But his comments were too much for Philippine basketball chiefs. His team sacked Orton late last week, and he posted a farewell to his fans in the Philippines on Twitter on Monday. “I thank God for my time in the Philippines and thank Purefoods for everything. I wish the team the best of luck,” Orton said. Purefoods management refused to comment to AFP on Tuesday. But the team’s top administrator, Rene Pardo, was quoted in local media as saying Orton had been let go for insulting Pacquiao. “Everyone is angry at him… it is like he went to the United States and insulted the name of Martin Luther King,” the ABS-CBN news website quoted Pardo as saying. The Philippine Basketball Association also fined Orton 250,000 pesos ($5,650) for his comments. “This office disapproves of Read More …