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LTO asks Facebook: Remove accounts offering online assistance
Land Transportation Office chief Vigor Mendoza II has ordered the LTO’s legal department to coordinate with Facebook Philippines in taking down accounts that offer online assistance for driver’s license and motor vehicle registration transactions......»»
Over 33-K security personnel for Pasko Fiesta 2023
Over 33,000 security and safety personnel have been deployed for the month-long 2023 Pasko Fiesta celebration in Davao City. The Chief of Davao City's Public Safety and Security Office (PSSO), Angel Sumagaysay, announced that a total of 33,672 integrated security and safety personnel will be involved in the annual Christmas festival. The deployment will begin on November 28, 2023, and continue until January 1, 2024. The Davao City Police Office (DCPO) alone accounts for 9,862 personnel, with 4,731 being police officers and the rest consisting of police auxiliary and force multipliers. The security plan was established well in advance to anticipate various events throughout the celebratory month. The spokesperson for the DCPO, PCap. Hazel Tuazon, urged the public to actively participate, witness, and cooperate with law enforcement while adhering to the culture of security. She also reminded everyone to follow safety and security guidelines, such as refraining from carrying backpacks and firearms or deadly weapons, to ensure a peaceful celebration of Pasko Fiesta. The month-long festivities will commence on November 28 and conclude on December 31 with the Paghinugyaw.....»»
Public warned vs fake Nartatez social media accounts
The National Capital Region Police Office warned the public on Friday against fake social media accounts using the name and photos of NCRPO chief Brig. Gen. Jose Melencio Nartatez Jr......»»
PNP, Comelec sharing polls data
The Philippine National Police sealed a data sharing agreement, or DSA, with the Commission on Elections to ensure the integrity and transparency of the upcoming Barangay and Sangguniang Kabataan Elections, or BSKE, on 30 October. In accordance with the provisions of Republic Act 10173, the agreement grants Comelec access to the PNP’s Election Monitoring Systems andsub-systems. The Data Sharing Agreement outlines specific areas of collaboration aimed at bolstering the electoral process. Key components include access to the PNP Personnel Deployment, Surrendered Firearms, Voting Center Assistance, Election Status, Candidates, Partylists, Voting Center, Treasurer’s Office, Unlawful Election Materials, Gun Ban Details, Violations thereof, and other critical data related to the elections. Additionally, the agreement allows access to various sub-systems within the PNP Election Monitoring System, including geo-tagging for vote-buying, a separate sub-system forvote-buying, and another for Task Force Kontra Fake News, following the Comelec’s specifications. By working together, the PNP and the Comelec can take better and more appropriate steps to ensure safe, fair, and orderly elections. “We will make a difference in ensuring that the upcoming Barangay and Sangguniang Kabataan Elections of 2023 serve as a shining example of democracy in action,” PNP Chief Gen. Benjamin Acorda Jr. said in a statement at the signing ceremony on Monday. The post PNP, Comelec sharing polls data appeared first on Daily Tribune......»»
Comelec gains troops, resources for BSKE
The Commission on Elections on Monday has received additional personnel and resources from the Philippine National Police, Armed Forces of the Philippines, Philippine Coast Guard and the Department of Education ahead of the Barangay and Sangguniang Kabataan Elections slated on 30 October. The ceremonial turnover was held in Camp Crame, Quezon City where over a thousand PNP, AFP and PCG contingents who will be deployed for the conduct of security operations and DepEd personnel who will facilitate the voting were physically present while the others attended virtually. The PNP is set to deploy over 187,000 personnel during the BSKE while the AFP will field more than 117,000 troops and the PCG with over 30,000 personnel. DepEd, on the other hand, said 494,662 personnel will serve as board of election inspectors. The PNP, AFP, PCG as well as the DepEd all committed to the Comelec their full support to ensure a safe, peaceful and clean BSKE 2023. Meantime, the PNP reminded their men to be extra wary on the happenings on the ground to thwart any possible threats in relation to the elections. “To all the personnel who will be deployed to guarantee the success of the BSKE, I offer my heartfelt guidance and support. Your devotion to this duty is vital, but it must be matched with the same level of care and responsibility for yourselves,” said PNP chief Police General Benjamin Acorda Jr. “Prioritize your well-being, both physically and mentally. We are at our strongest when we care for ourselves and each other. By safeguarding your health, you enhance your ability to fulfill your duties effectively,” he added. The DepEd also appealed to the PNP and AFP to ensure their security considering incidents in the past where teachers experienced harassment and intimidation by some groups especially on the election day. The post Comelec gains troops, resources for BSKE appeared first on Daily Tribune......»»
2 Koreans wanted for telecom, wire fraud arrested
Two fugitives were captured by the Bureau of Immigration (BI) after being sought by South Korea and the US for their involvement in fraud-related operations. BI Commissioner Norman Tansingco confirmed the arrests of the two South Korean fugitives, who were identified as Kwon Junyoung, 38, and Seok Jongmin, 48. The two were arrested last Saturday in Brgy. Cuayan, Angeles City, Pampanga, by the BI Fugitive Search Unit (BI-FSU) operatives. Tansingco said that the operation was conducted in collaboration with the South Korean authorities, government intelligence groups, and the Angeles City Police Station. According to the South Korean authorities, Kwon is wanted for telecommunications fraud in South Korea, while Seok is wanted in Texas for engaging in wire fraud, money laundering, and identity theft. The BI chief said that as the BI board of commissioners has already issued summary deportation orders against them, soon they will be deported to face the crime they committed. Tansingco added that their names were also placed on the bureau’s blacklist of undesirable aliens, so they are now banned from re-entering the Philippines, the BI chief added. According to information obtained from Interpol's National Central Bureau (NCB) in Manila, the Suwon District Court in Korea issued an arrest order for Kwon on 12 December 2019. Authorities claimed that Kwon was part of a telecom fraud syndicate operating in Dalian, China, that used voice phishing to call random victims. Based on reports, the callers impersonated investigators from the Seoul Central Prosecutor's Office in order to harass the victims and trick them into transferring money to the syndicate's accounts. In contrast, the NCB revealed that Seok is the subject of an arrest warrant issued by the US district court in Western Texas. He is accused of conspiring to commit wire fraud, three counts of wire fraud, conspiring to commit money laundering, and three counts of aggravated identity theft. Seok is accused of working with other suspects to gain access to the websites of the US Departments of Defence and Veterans Affairs using thousands of US military veterans' stolen personal identification information (PII), depriving the victims of their benefits. The BI-FSU also reported that Seok was arrested after posting bail at the Angeles City regional trial court, where he was charged with robbery and extortion, and will be transferred to the BI’s facility in Bicutan, Taguig. While Kwon will remain in the custody of the Angeles City police due to his ongoing local case, he will continue to be under the BI’s legal custody for deportation proceedings. The post 2 Koreans wanted for telecom, wire fraud arrested appeared first on Daily Tribune......»»
Observe ‘cyber hygiene,’ judicial personnel urged
The Supreme Court has directed all judiciary officials and personnel to strengthen the courts’ cybersecurity measures to protect sensitive data and minimize the risk of cyber threats. Acting Chief Justice Marvic M.V.F. Leonen issued the directive as Chief Justice Alexander G. Gesmundo is on official travel abroad, citing the recent data breach involving the Philippine Health Insurance Corporation or PhilHealth. In Administrative Order 150-2023 on “Proper Cyber Hygiene in Judiciary,” the SC said, “One of the most common ways of ransomware attacks is done through phishing emails, which usually contain malicious links or attachments.” The SC warned, “Do not open these links or attachments unless they have been verified to be legitimate.” Court officials and employees were advised to examine carefully the sender’s email address to avoid being victimized. “Phishers often use email addresses that look similar to ones used by legitimate organizations but may have small misspellings or inconsistencies. Always take a close look at the sender’s display name when checking the legitimacy of an email,” the SC said. Court officials and personnel were also instructed to protect personal information and double-check email attachments by scanning the same for viruses. On password security, the SC suggested that “under no circumstances should judiciary personnel use personal information and dictionary words in creating passwords.” Judiciary officials and employees were also urged to use a longer password containing numbers, symbols, and both uppercase and lowercase letters; to avoid the same password for multiple accounts; to consider passphrases or a sequence of random words instead of passwords; to use a password manager; and to enable a multifactor authentication system in their accounts. They were advised never to share their passwords with others, even those who claim to be from trusted institutions, and to ensure that any written passwords are stored securely. In protecting important files and ensuring their recovery in case of data loss, the guidelines recommend that court officials and personnel follow the “3-2-1 backup rule” to ensure data redundancy and availability in case of hardware failure, data corruption, or other catastrophes. The rule requires users to keep three copies of their data on two different media types, with one copy stored offsite. The post Observe ‘cyber hygiene,’ judicial personnel urged appeared first on Daily Tribune......»»
Comelec not excluding Smartmatic in 2025 polls
Despite the controversy linking Smartmatic International to former poll chief Andres Bautista, the Commission on Elections said it has no plans of excluding the multinational company in the forthcoming procurement of the 2025 automated election system......»»
BSKE 2023 still a go, says PNP
The Philippine National Police on Monday stressed that it is not seeing any postponement of the 2023 Barangay and Sangguniang Kabataan Elections scheduled on 30 October amid the reported 2,594 areas of concern. PNP chief Police General Benjamin Acorda Jr. said that the PNP has recorded 246 “areas of grave concern” or under the red category while 1,248 villages are under the orange category and 1,100 are under the yellow category. “So far, we are not seeing any areas that may postpone the polls. All areas will be simultaneously doing or conducting the BSKE as scheduled. There are some areas that we think that needs additional troops like the Bangsamoro Autonomous Region in Muslim Mindanao,” Acorda said. “We have to send additional forces there and our deputy chief for operations are also preparing in coordination with the other agencies. If some areas will be challenging, we will render the appropriate measures,” he added. Areas listed under the red category would be under the Commission on Elections’ control and the poll body has the authority to augment security forces in the said areas. “With regards to the preparations for the barangay elections to our assessment and after the presentation of all the regional directors and after their meeting with the different Regional Joint Security Control Center, provincial JSCCs and of course on the national level, it’s a go for all of us,” said Acorda. The PNP chief revealed that the 246 “areas of grave concern” for the BSKE are mostly from Bicol, Eastern visayas and BARMM. “In BARMM alone we have 151, in Region 8 we have 60 and in Region 5 we have 21 this list is fluid, it may change anytime depending on the political climate in the area and these are being constantly monitored through our coordination with the Comelec, Philippine Coast Guard and the Armed Forces of the Philippines,” said Acorda. He also said that the PNP keeping a close watch on 38 potential PAGs and four active PAGs ahead of the BSKE this year. The election period for the BSKE started on 28 August and will end on 29 November 2023. During this period, the Comelec mandates the suspension of activities involving the carrying of firearms or other deadly weapons and the employment of security personnel or bodyguards by incumbent public officials, whether elected or appointed, as well as private individuals. The post BSKE 2023 still a go, says PNP appeared first on Daily Tribune......»»
Comelec, PAO sign MOA to battle vote-buying, vote-selling
The Commission on Elections and the Public Attorney’s Office signed a memorandum of agreement on the poll body and the prosecutorial arm’s cooperation against vote-buying and vote-selling on Monday, 2 October. As the Barangay and Sangguniang Kabataang elections are fast approaching, Comelec chairperson George Garcia and PAO chief Persida Acosta led the signing of the MOA. Garcia pointed out the need for this cooperation to put an end to vote buying/selling, what he referred to as the “modern cancer of democracy”. “Nangangahulugan lang na ‘di puwede na palagpasin natin ang eleksyong ito at ang mga susunod na eleksyon nang hindi natin kasama ang PAO sa paglaban lalong-lalo na sa modern cancer na ito. Yan ay para ma-empower natin ang mga kababayan na maglakas-loob na dumulog at pumunta sa Comelec upang magreklamo. Hindi lang sa pamimili kundi sa pamimigay at pagtanggap ng mga goods, ng money at promises mula sa mga candidates,” Garcia said in his speech. [This means that we should not let these coming elections and future elections pass without involving PAO in fighting this modern cancer. This will empower the public to have the courage to file complaints with the Comelec. Not only on vote-buying but on giving and receiving goods from the candidates.] Acosta’s take on the signing of the MOA is to protect the sanctity of the 'voice of the people' and will fortify the country’s democracy and the rule of law. The post Comelec, PAO sign MOA to battle vote-buying, vote-selling appeared first on Daily Tribune......»»
DND, AFP, Comelec sign pact for orderly barangay, SK elections
The Department of National Defense and the Armed Forces of the Philippines on Thursday signed an agreement with the Commission on Elections to ensure peaceful and orderly barangay and Sangguniang Kabataan elections nationwide on 30 October. Defense Secretary Gilberto Teodoro Jr. signed the pact with Comelec chairperson George Erwin Garcia at the DND headquarters in Camp Aguinaldo, Quezon City. The signing was also witnessed by AFP Chief Gen. Romeo Brawner Jr. and Comelec Commissioner Ernesto Ferdinand Maceda Jr., who is in charge of the Committee on Kontra Bigay. The Committee on Kontra Bigay aims to combat the “deplorable practice of vote buying”, which Teodoro said continues to pollute the country’s democracy. “Ang tao, naiimpluwensyahan ng mga bagay na hindi kanais-nais. Kaya po ang fault niyan ay nasa namimigay,” he said. On the other hand, Brawner signed a separate memorandum of understanding with Garcia allowing Comelec to deputize AFP personnel to ensure free, orderly and peaceful barangay elections. At the sidelines of the MOA signing, the Comelec handed over a check to AFP amounting to P40 million in support of the military’s administrative, operational and logistical needs "as they perform their functions relative to the upcoming BSK elections." The post DND, AFP, Comelec sign pact for orderly barangay, SK elections appeared first on Daily Tribune......»»
Senate OKs bill giving DTI chief power to take down online sellers, e-commerce websites
The bill arms the Department of Trade and Industry (DTI) secretary with the power to issue takedown orders on websites, webpages, online applications, social media accounts or "other similar platforms" found engaging in or abetting illegal online transactions......»»
Trafficking victims have to pay for freedom
The Bureau of Immigration reported that a male trafficking victim was repatriated on 22 September after being forced to work as a scammer for a Chinese company in Myanmar. The authorities identified the victim as “Gio,” 33 years old. He left the country in September 2022 with two other friends, claiming that they were merely traveling to Thailand for a vacation. However, the victim admitted that after his repatriation, he was recruited by a certain “Liza” whom he met on Facebook and was lured to work as a customer service representative. He was promised a salary of up to P100,000 per month. Gio said that his recruiter asked him to pay P20,000 for his travel expenses, which were deducted from his salary. He added that after arriving in Thailand, he was transferred to Myawaddy, Myanmar southeast of the country and close to the border with Thailand. According to Gio, he was forced to work as an online love scammer by attracting foreign victims to invest in pseudo-cryptocurrency accounts. He received a salary of P60,000 a month for six months, far from what was promised to him by his recruiter. He was only able to go back home after collecting P200,000 from his friends and family to pay his company for his release. BI Commissioner Norman Tansingco said that the same modus has been observed since last year, and victims are often promised high salaries but end up in debt. As early as October 2022, the BI chief had already sounded the alarm on the modus targeting Filipinos to work for companies that operate online scams such as catfishing. Tansingco added that this is a case of double trafficking, wherein the victims are trafficked by making them agree through false promises, and then they will be forced to be part of a scamming syndicate, making it hard for them to seek help and repatriation. The National Bureau of Investigation and the Overseas Workers Welfare Administration provided assistance to the victim. The post Trafficking victims have to pay for freedom appeared first on Daily Tribune......»»
DoJ, Comelec intensify fight vs vote buying
The Department of Justice and the Commission on Elections recently forged an agreement to fight vote buying and vote selling not only in the coming Barangay and Sangguniang Kabataan Elections slated on 30 October but also in future polls. Justice Secretary Jesus Crispin Remulla and Comelec chairperson George Erwin Garcia signed a memorandum of agreement against “Kontra Bigay” on Monday. “We are making history,” said Remulla after the MoA signing, adding that they are strengthening the foundation of the country’s democracy. “We are sending a clear message to every Filipino on the importance and sanctity that our votes should be protected,” Remulla said. “Our purpose is very simple, fight the widespread problem of vote buying and vote selling that destroy the integrity of the electoral process.” “Under this MoA, we will together stand, talk, and help each other,” he added. The DoJ chief stressed that the partnership’s aim is to ensure that those who commit election offenses will face the law. “Combining the investigatory prowess of the Comelec and the prosecutorial power of the DoJ we aim to ensure those who committed election offenses shall face the full force of the law,” Remulla said. Garcia, for his part, stressed that the only way to weed out and fight vote buying and vote selling is to prosecute and prosecute with firmness. “If we have on our side the prosecutorial arm of the government led by the National Prosecution Service and the other agencies of the DoJ, we can ensure that no one will fear, and there will be focus and serious campaign against this new cancer of our democracy,” Garcia said. The post DoJ, Comelec intensify fight vs vote buying appeared first on Daily Tribune......»»
Fools in suits
When a ranking Department of Agriculture official was asked in a recent Congress hearing what steps the agency had taken to break the rice cartel, he replied that he did not believe that a “mafia” existed. Coming from a high DA official, the statement revealed that nothing was being done to stop the syndicate that everyone in the industry knows about since, to the authorities, it does not exist. In the reenacted Anti-Agricultural Smuggling Act of 2016, smuggling, hoarding, profiteering, and forming cartels for agricultural and fishery products are considered economic sabotage and are non-bailable offenses for which a long jail term could be meted out. The strengthened law, however, lacks strong teeth against government officials who are in cahoots or protect the syndicates. Contained in the proposed bill is a provision indicating that any government officer or employee found to be an accomplice in the commission of the crime will “suffer the additional penalties of perpetual disqualification from holding public office, exercising the right to vote, from participating in any public election, and forfeiture of employment monetary and financial benefits.” The bill is pending in both houses of Congress. With the slow grind of justice in the country, a public official looking for a fast buck will not hesitate to risk his job in exchange for a huge payback. The recent series of events showed the markets are being manipulated by the big players in the sugar, vegetable and rice businesses. These syndicates are known to be deeply entrenched due to their connections with government bigwigs who facilitate their domination of the markets either through edicts or the use of public resources. In the most ridiculous situation, the recent spike in onion prices was found to be artificial since farmers were even throwing away their harvests because of low farmgate prices, thus there was no reason for prices to surge. Later, it was exposed in a congressional hearing that a cartel had succeeded in manipulating the onion market to create a condition that would require its importation, from which its members would make a killing. The warehouse and storage facilities are controlled by the mafia which makes it easy to create artificial conditions to which the market reacts by raising retail prices. The ultimate goal is to coax the government to allow importation from suppliers in overseas markets that are also flooded with the commodity, The cartel rakes in profits from both the high markup and the kickbacks from the overseas suppliers desperate to sell their surplus. The woeful victims are the Filipino farmers whom the cartel boxes out of the market. In extreme cases, these farmers just throw away their harvest since they cannot afford to transport their products without the middlemen who are also in the pocket of the cartel. The same goes for the rice industry, where the market was manipulated for a different reason, which was to kill the rice tariffication law that kicked the National Food Authority out of the import business. Rice prices then surged to as high as P56 a kilo, which pushed President Ferdinand Marcos Jr. to impose price ceilings. The NFA used to have a monopoly on importation, but that resulted in acrimonious confrontations at the apex of government. The tariffication law, in turn, opened importation to all grain traders and relegated the NFA to buying rice from local farmers. Under the new anti-smuggling bill which has the endorsement of Mr. Marcos, an Anti-Agricultural Economic Sabotage Council headed by the President or his designated permanent representative will be formed. The proposed body will have the power to investigate and file charges, as well as freeze violators’ funds, properties, bank deposits, placements, trust accounts, assets and records. The creation of the body looks good on paper but in the real world, it might just add another layer of bureaucracy and source of corruption unless the cartel, which DA officials claim does not exist, is dismantled. Chief Presidential Legal Counsel Juan Ponce Enrile has a simple solution for breaking the cartel, which is for the government to confiscate all the rice overstock and let the owners of the warehouses prove that their huge inventory is legitimate. Such a move would prompt the traders to release more rice into the market to avoid confiscation. The imposition of the price cap on rice indicated that the prices are artificial since the markets are now selling at lower than the manipulated prices despite conditions being constant. An expected bumper harvest is also prompting the prices to go back to normal, after the attempt of the cartel to create a price shock to support their effort to return to the old ways. To know the real situation, President Marcos goes out of his way to see what is on the ground. His underlings, particularly at the Department of Agriculture, should do better. The post Fools in suits appeared first on Daily Tribune......»»
Trafficking victim pays P200K for freedom
The Bureau of Immigration reported that a male trafficking victim was repatriated on 22 September after being forced to work as a scammer for a Chinese company in Myanmar. The authorities identified the victim as "Gio", 33 years old. He left the country in September last year with two other friends, claiming that they were merely traveling to Thailand for a vacation. However, the victim admitted after his repatriation that he was recruited by a certain "Liza" whom he met on Facebook. Liza offered him a customer service representative job with a monthly salary of up to P100,000. The victim admitted to accepting the offer. Gio said that his recruiter asked him to pay P20,000 for his travel expenses, which were deducted from his salary. He added that after arriving in Thailand, he was transferred to Myawaddy, Myanmar, which is close to the border of Thailand. According to Gio, he was forced to work as an online love scammer by attracting foreign victims to invest in pseudo-cryptocurrency accounts. He received a salary of P60,000 a month for six months, far from what was promised to him by his recruiter. He was only able to go back home after collecting P200,000 from his friends and family to pay his company for his release. BI Commissioner Norman Tansingco said that the same modus has been observed since last year, and victims are often promised with high salaries but end up in debt. As early as October 2022, the BI chief had already sounded the alarm on the modus targeting Filipinos to work for companies that operate online scams, such as catfishing. Tansingco added that this is a case of double trafficking, wherein the victims are trafficked by making them agree through false promises, and then they will be forced to be part of a scamming syndicate, making it hard for them to seek help and repatriation. The National Bureau of Investigation and the Overseas Workers Welfare Administration provided assistance to the victim. The post Trafficking victim pays P200K for freedom appeared first on Daily Tribune......»»
Trafficking victim pay P200K for freedom
The Bureau of Immigration reported that a male trafficking victim was repatriated on 22 September after being forced to work as a scammer for a Chinese company in Myanmar. The authorities identified the victim as "Gio", 33 years old. He left the country in September last year with two other friends, claiming that they were merely traveling to Thailand for a vacation. However, the victim admitted after his repatriation that he was recruited by a certain "Liza" whom he met on Facebook. Liza offered him a customer service representative job with a monthly salary of up to P100,000. The victim admitted to accepting the offer. Gio said that his recruiter asked him to pay P20,000 for his travel expenses, which were deducted from his salary. He added that after arriving in Thailand, he was transferred to Myawaddy, Myanmar, which is close to the border of Thailand. According to Gio, he was forced to work as an online love scammer by attracting foreign victims to invest in pseudo-cryptocurrency accounts. He received a salary of P60,000 a month for six months, far from what was promised to him by his recruiter. He was only able to go back home after collecting P200,000 from his friends and family to pay his company for his release. BI Commissioner Norman Tansingco said that the same modus has been observed since last year, and victims are often promised with high salaries but end up in debt. As early as October 2022, the BI chief had already sounded the alarm on the modus targeting Filipinos to work for companies that operate online scams, such as catfishing. Tansingco added that this is a case of double trafficking, wherein the victims are trafficked by making them agree through false promises, and then they will be forced to be part of a scamming syndicate, making it hard for them to seek help and repatriation. The National Bureau of Investigation and the Overseas Workers Welfare Administration provided assistance to the victim. The post Trafficking victim pay P200K for freedom appeared first on Daily Tribune......»»
Ex-Comelec chief denies receiving bribe money
Former Commission on Elections chairman Andres Bautista yesterday denied allegations that he received a bribe from poll automation company Smartmatic or any other entity......»»
AboitizPower buys back shares amid PSE slump
Aboitiz Power Corp., or AboitizPower, purchased 11.407 million of its shares as part of its buy-back program as of the 19 September closing. The company said the move was needed to “create further shareholder value” as its current share price range fails to reflect the value of the company. As the shares are undervalued due to the poor state of the market, the buyback is expected to inspire investors to look at the real value of the shares. “Even with this stock buy-back program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” the company said. The Philippine Stock Exchange or PSE, however, announced AboitizPower, the listed investment arm of the Aboitiz Group for energy-related ventures, will be dropped from the index of bellwether shares by next week. In a memorandum dated 20 September, PSE president Ramon Monzon confirmed AboitizPower’s removal from the index will be effective starting 26 September. This developed even after AboitizPower committed not to exit the index amid speculations that the company may opt to delist after its public float fell below the required threshold. Based on the new rules governing the PSE, all companies in the local bourse indices are required to maintain a minimum public float level of 20 percent. AboitizPower chief executive officer Emmanuel Rubio also conveyed that the company, which accounts for one out of every five megawatts or MW of installed capacity in the Philippines, is still in a strong position to create long-term shareholder value. “With a pipeline of about 1,000 MW of new renewable energy capacity, we are well on our way to contributing an additional 3,700 MW of clean electricity,” Rubio said. During the first half of the year, the company reported that it logged a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. During the second quarter alone, the company’s net income reached P10.3 billion, 46 percent higher than last year’s P7 billion. AboitizPower’s generation and retail supply businesses recorded earnings before interest, taxes, depreciation, and amortization or EBITDA of P30.2 billion during the first six months. The EBITDA, used to measure a company’s financial health and ability to generate cash, was 31 percent higher than the P23.1 billion recorded in the same period last year due to “fresh contributions” from GNPower Dinginin. From the start of the year until the end of June, AboitizPower said its capacity sold increased by 25 percent to 4,718 MW from 3,785 MW a year ago. The post AboitizPower buys back shares amid PSE slump appeared first on Daily Tribune......»»
Ombudsman vindicates (2)
The Ombudsman was correct in his unsolicited recommendation that Audit Observation Memorandum or AOMs should not be published to prevent prejudging those involved. But AOMs with biased, political undertones and color, if released within a conspired time frame and raising issues as critical as huge Department of Health or DoH money intended to combat Covid-19 being stolen, can cause a rebellion. More than ever, these justify graft buster Martires’ anger over the publication of AOMs. Amazingly, this scenario reappeared with an almost repeat performance by the same personalities like the lady who poured out her tears over the plea bargaining agreement, Heidi Mendoza, who suddenly appeared from nowhere crying again and asking everyone to pray for the soul of her colleague, UN Auditor, Atty. Jake Cimafranca, who worked hard on the DoH report, died of a heart attack. She posted about it in time for Cimafranca’s burial. Also suddenly appearing was Grace Pulido Tan of the “kahindik-hindik (hideous)” PDAF audit report, echoing the same statement of her tandem Heidi that the release of the DoH audit report was regular and not premature. Astonishing everyone, including CoA state auditors, was the rebuff by no less than CoA Chair Michael Aguinaldo of the directive of President Duterte telling him to audit the Philippine National Red Cross. He said the CoA needed more authority to audit the PNRC. State auditors were shocked by the answer of their chief to a presidential order. Something must be cooking. And there emerged the resounding call for an immediate investigation by the senators of the Republic on the DoH’s P67.32- billion fund intended to fight Covid-19. Soon, the call for an inquiry sounded worldwide. The internet showed news flashes in the world’s capital cities of allegedly massive Department of Health funds of the Philippines intended to protect the people of the archipelago from the onslaught of Covid-19 being stolen. But former fiscal and President Rodrigo Duterte could not be intimidated. “Pure bullshit”: Duterte says CoA-flagged DoH funds not stolen. Duterte tells Cabinet secretaries to ignore CoA reports: “Nothing will happen there.” All probes against DoH “can continue,” Palace says after Duterte scores CoA. In effect, Fiscal Digong was saying, you can go on with your investigation. Catch the crooks, but do not hinder government efforts to provide our people with the supplies they need to protect them from Covid-19. Here is how it all started. The annual audit report on the accounts and financial operations of the Department of Health for the calendar year ending 31 December 2020 disclosed, among other things, the following most significant observations contained in one of the collections of AOM released as an annual audit report on 11 August 2021: “1. Various deficiencies involving some P67,323,186,570.57 worth of public funds and intended for national efforts of combatting the unprecedented scale of the Covid-19 crisis were noted. These deficiencies contributed to the challenges encountered and mixed opportunities by the DoH during the state of calamity and national emergency and cast doubts on the regularity of related transactions. “We requested that the SoH (Secretary of Health) implement the recommendations contained in the Consolidated Management Letter on the audit of Covid-19 funds for the year ending 31 December 2020 and submit a status report on the actions taken on the audit recommendations stated therein.” On 11 August 2021, the preceding observation was reported by a local stream media as a blazing headline: “CoA finds DoH lacking in managing P67.32-B Covid funds.” “The Commission on Audit found deficiencies in how the Department of Health managed the P67.32 billion fund to fight the Covid-19 pandemic, adding that it contributed to challenges that the country faced during the crisis. “CoA’s annual audit report for DoH in 2020 revealed that the deficiencies are caused by non-compliance with pertinent laws and regulations, which led to missed opportunities for the department primarily tasked with managing the pandemic.” (To be continued) The post Ombudsman vindicates (2) appeared first on Daily Tribune......»»