Feb 022013
 
Palace: No date yet for martial law compensation bill signing

Malacañang on Saturday said there is no definite date yet for the signing of the newly ratified bill that will provide compensation to human rights violations victims during Martial Law. Deputy presidential spokesperson Abigail Valte said that as of Saturday morning, the Palace has yet to receive the transmittal of the bill from Congress. “Wala pa… [itse-]check namin, hindi pa namin na-receive ang transmittal,” she said on government-run dzRB radio, when asked if the bill would be signed into law on Feb. 25. Feb. 25, 2013 is the 27th anniversary of the EDSA-1 People Power revolution, which ousted Marcos and installed President Benigno Aquino III’s late mother Corazon to the presidency in 1986. Some reports had said President Aquino might sign the bill into law on that date. Valte also said the Palace is still waiting for another measure, the bill for the K-to-12 basic education program, to be transmitted after its ratification. Earlier this week, both houses of Congress ratified the human rights violation victims’ compensation bill, a landmark measure that will finance claims by victims of Martial Law. Under the measure, a P10-billion fund plus interest is to be appropriated to the claimants. The fund will be sourced mainly from funds transferred to the government by the Swiss Federal Supreme Court and held in escrow. On the other hand, both houses of Congress also ratified the K-to-12 Basic Education Reform program. — LBG, GMA News

Feb 012013
 
PNoy to join LP proclamation rally, says spokesman

Barring a last-minute change in plans, President Benigno Aquino III is to attend the proclamation rally of the administration coalition’s senatorial bets in Manila on Feb. 12, a member of the ruling Liberal Party said Saturday. Eastern Samar Rep. Ben Evardone on Saturday said Aquino will participate in the event, which he said is “historic” for the LP as it will be held at Plaza Miranda. “’Yan ang pagkakaalam ko, dadalo siya …  Base sa ating discussion sa leaders ng LP, siya ay sasama at makikiisa sa proclamation rally,” Evardone said on government-run dzRB radio. Also, he said the Plaza Miranda venue is significant for the LP as it was where a deadly bombing occurred in 1971 – during a political campaign rally of the LP. Aquino has been taking part in the early campaign of the administration coalition’s senatorial bets – in the coalition’s television ads, he hinted some candidates claim to be supporting him but are merely posing. He then named the coalition’s senatorial bets – some of them from the Nacionalista Party and Nationalist People’s Coalition. — LBG, GMA News

Feb 012013
 
Palace: Efforts to bring home to PHL Aman Futures boss continue

Malacañang on Saturday said efforts are still being undertaken to bring home Manuel Amalilio, the suspected brains behind a P12-billion investment pyramiding scam, amid rumors that he was a nephew of a top official of Sabah. Deputy presidential spokesperson Abigail Valte said the Palace has yet to verify the supposed ties between Amalilio and the chief minister of Sabah’s Chief Minister Musa Aman. “We don’t have any verification to that effect, but only the assurance the Philippine side will continue to work with local police authorities for his deportation to the country,” she said on government-run dzRB radio. When asked what the government will do if Amalilio is indeed related to Aman, Valte said, “we don’t at this point want to speculate on that particular allegation.” She declined to comment further on the supposed ties of Amalilio to Aman, saying she would defer to the Justice, Foreign Affairs and Interior departments.  The Philippines will continue working with local authorities “to do whatever we can to ensure his return,” she added. “As far as we are concerned, we submitted all the documentation required primarily to prove Amalilio is a Filipino citizen,” she added. On Saturday, a report on The Philippine Star had quoted Malaysian opposition leader Anwar Ibrahim as saying Amalilio is a nephew of Aman.  Anwar alleged that Amalilio’s mother is Musa’s first cousin, and that Amalilio’s real name is Kamal bin Said, born in Beaufort, Sabah. However, Anwar was also quoted as saying Amalilio is married to a Filipina, Read More …

Feb 012013
 
Binay, DFA thank Saudi king

FREEDOM FOR DOOMED PINOYBy Jerome Aning Philippine Daily Inquirer 3:53 am | Saturday, February 2nd, 2013 Rodelio Celestino Lanuza. FILE PHOTO MANILA, Philippines—Vice President Jejomar Binay and Foreign Secretary Albert del Rosario on Friday expressed the Philippine government’s gratitude to Saudi King Abdullah for donating the P24.9-million balance for the “blood money” needed for the release of Filipino death convict Rodelio “Dondon” Lanuza. “I’m happy to relate that our compatriot has been saved from the execution. This is because of the kindness of King Abdullah,” Binay, concurrent presidential adviser of OFW affairs, said. In a press conference at the Coconut Palace, the Vice President’s official residence, Binay said the government had been quietly working for the release of Lanuza, who was sentenced to death in 2000 in Damman, Saudi Arabia for killing a Saudi national. Lanuza claimed it was an act of self-defense. The Vice President said the King’s gesture of goodwill “once again affirms the strong ties of friendship and brotherhood between the Philippines and the Kingdom of Saudi Arabia.” The Department of Foreign Affairs said the Saudi government’s “humanitarian gesture” would pave the way for the issuance of the affidavit of forgiveness (tanazul) in Lanuza’s favor, thus formally saving him from execution. “This positive development is a result of the tireless effort and steadfast commitment of Filipinos working together. We hope that as soon as all legal procedures are completed, Mr. Lanuza will finally be reunited with his family,” Del Rosario said in a statement. Del Rosario did Read More …

Feb 012013
 
US sub’s visit has Palace OK

By Michael Lim Ubac Philippine Daily Inquirer 2:21 am | Saturday, February 2nd, 2013 ‘TOM CLANCY’S SUB’ The USS Cheyenne (SSN 773), a Los Angeles-class submarine, is scheduled to arrive in Subic Bay Friday for a routine port visit. This stop in Subic will permit the Cheyenne to replenish supplies as well as offer its crew an opportunity for rest and relaxation. Cheyenne is the primary subject of Tom Clancy’s novel “SNN,” a fictional war over the Spratlys. PHOTO FROM US EMBASSY INFORMATION OFFICE MANILA, Philippines—The port visit of the USS Cheyenne, a nuclear attack submarine belonging to the US Pacific Fleet, has been cleared with Malacañang. Deputy presidential spokesperson Abigal Valte said that although Cheyenne is a “nuclear-powered submarine,” this does not necessarily mean that it is carrying nuclear warheads. The Cheyenne arrived on Friday at the former US naval base on Subic Bay, Zambales, for a “routine port visit,” according to the US Embassy. The US Embassy in Manila did not say how long the 110-meter-long submarine would stay in the Philippines. But Subic Bay Metropolitan Authority (SBMA) chair Roberto Garcia said the USS Cheyenne would be in Subic for a week. At a briefing in the Palace, Valte clarified that the port visit was not violative of the constitutional ban on the presence of any nuclear armaments in the country. Nuke-powered “Just to clarify, the Constitution prohibits nuclear armaments, not nuclear-powered (vessels). So this is nuclear-powered and this has diplomatic clearance of the DFA, in consultation with Read More …

Feb 012013
 
Pope names Tagle to 2 key councils in Vatican

12:23 am | Saturday, February 2nd, 2013 Manila Archbishop Luis Antonio Tagle. INQUIRER FILE PHOTO Two months after his elevation to the College of Cardinals, Manila Archbishop Luis Antonio Cardinal Tagle has been appointed to two key councils in the Vatican. Pope Benedict XVI on Thursday named Tagle a member of the Pontifical Council for the Family, which deals with pro-life issues, and the Pontifical Council for the Pastoral Care of Migrants and Itinerant Peoples. The five other prelates who became cardinal in November together with Tagle were also given new assignments in the Vatican curia. “According to the Catholic News Agency, [the cardinals, while keeping their main jobs, can] bring their experience and perspective to bear on the discussions and decisions of the central church offices that assist the Pontiff,” a report posted on the Catholic Bishops’ Conference of the Philippines news website said. “As member of the two Rome-based offices, Tagle may attend the councils’ important meetings and receive regular correspondence from Rome on matters that need consensus,” the report said. Family council According to the Vatican website, the Pontifical Council for the Family is responsible for the promotion of the pastoral ministry and apostolate for the family, dealing with issues related to responsible procreation, and the defense of human life “in all stages of its existence, from conception to natural death.” The council also deals with sex education, demographics, contraception and abortion; sterilization, ethical and pastoral problems related to AIDS and other problems of bioethics; legislation regarding Read More …

Feb 012013
 
Lachica named acting SEIPI president

MANILA, Philippines – The Semiconductors and Electronics Industries in the Philippines Inc. (SEIPI) has named Dan Lachica as its acting president. “On behalf of the SEIPI Board of Directors, I have the privilege of announcing the appointment of Dan Lachica as the SEIPI interim president,” SEIPI chairman Bing Viera announced. Lachica has been a member of the SEIPI Board of Directors for over 10 years. In the past, he held the position of treasurer and chairman. Lachica has spent 16 years in various leadership roles in Silicon Valley in semiconductor front-end wafer fabrication. Lachica is the president of silicon wafer slicing firm First Philec Solar Corp. (FPSC). Business ( Article MRec ), pagematch: 1, sectionmatch: 1 FPSC is a joint venture agreement between First Philippine Electric Corp. (First Philec) of the Lopez Group of Companies which controls 80 percent and SunPower Philippines Manufacturing Limited (SPML) of SunPower (San Jose, USA), which holds 20 percent. Lachica replaces Ernesto Santiago who passed away after suffering a heart attack late last year. The SEIPI is the representative body of players and industries supporting the development of Philippine electronics. Earlier, the group said it expects the electronics industry to grow by five to six percent this year from an expected flat growth in 2012. The growth for this year is expected to be supported by the start of operations of new plants involved in the production of electronic products and parts in the country. For 2012, the SEIPI projects flat or zero growth due Read More …

Feb 012013
 
ALI trims capital to P21.5B

MANILA, Philippines – Property giant Ayala Land Inc. (ALI) will trim its authorized capital stock to P21.5 billion as several preferred shares were eliminated from the company. In a disclosure, ALI said it secured the Securities and Exchange Commission’s approval for the decrease in its authorized capital stock by P1.303 billion to P21.5 billion from P22.803 billion. The lower authorized capital stock reflects  “the aggregate par value of the 13.034 billion preferred shares which have been redeemed and eliminated,” ALI said. Hence, ALI’s capital stock will decline to P21.5 billion divided into 20 billion common shares with a par value of P1 and 15 billion voting preferred shares worth 10 centavos each. This is lower than the P22.803 billion authorized capital divided into 20 billion common shares at P1 each, 15 billion voting preferred shares at 10 centavos each and 13.034 billion preferred shares worth 10 centavos each. The company’s board of directors approved the capital decrease in April last year. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 ALI is into residential and office development, and shopping mall and hotel operations. In the nine months to September last year, ALI’s earnings reached P6.62 billion, up 27 percent from P5.23 billion a year earlier on the back of the strong performance in all its business lines.

Feb 012013
 
Thai firm spending $70M to develop new Mariwasa products for SEA mart

MANILA, Philippines – The parent firm of tile maker Mariwasa Siam Ceramics is spending $70 million to develop new products for the Southeast Asian region. In a statement, Thai firm Siam Cement Group (SCG), which owns Mariwasa Siam, said the capital spending is allotted “for research and development initiatives to fully strengthen its leadership position in the Southeast Asian region.” SCG said it will develop new products that will prop up demand following a good performance last year. SCG president and CEO Kan Trakulhoon said the company’s revenues from its Philippine operations reached $142 million, surging 50 percent from a year ago. In April, SCG consolidated the operations of its ceramic tiles business, Mariwasa Siam Ceramic Inc. In September, SCG divested its stake in locally listed Mariwasa Siam Holdings Inc. For the region, the company continued the trend of growing its sales by 39 percent per year. Consolidated sales reached $1.004 billion last year, SCG said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Sales in the region accounts for eight percent of SCG’s total sales revenues. Kan said they expect 2013 to be a better year for SCG as it has become more resilient despite a weak global economy.                 

Feb 012013
 
BPI income up 27% to P16.3 B

MANILA, Philippines – Ayala-owned Bank of the Philippine Islands (BPI) posted a 27 percent increase in its unaudited net income to P16.3 billion last year from P12.8 billion in 2011. In a disclosure to the Philippine Stock Exchange yesterday, BPI said the improved earnings could be attributed to the strong business volume and revenue growth as the Philippines likewise grew at a faster pace compared to other ASEAN economies. Total resources reached P985 billion, or 17 percent higher than the previous year, as the bank’s core businesses remained solid. The bank’s deposits expanded 18 percent to P802 billion while assets grew 11 percent to P743 billion. The net loan portfolio also increased 16 percent to P527 billion as all markets sustained double-digit growth. It said the consumer/middle market/SMEs segment grew 17 percent while the top tier corporates jumped 12 percent. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 BPI president and CEO Aurelio R. Montinola III said they expect to sustain their in loan performance this year. “2012 was a banner year for BPI, as we generated record profits and exceeded our return on equity goal of 16 percent. We will aim for 12 to 15 percent loan growth in 2013,” he said. This year, he said they hope to duplicate the earnings growth of the bank. “Given significant securities trading gains last year and an even lower interest rate regime this year, our challenge for 2013 will be to deliver a meaningful earnings growth after a record 2012 Read More …