PBBM: No war with China over WPS By Samuel P. Medenilla @sam_medenilla
E PHL’s BIGGEST HOTEL IN PARAÑAQUE CITY President Ferdinand R. Marcos, Jr. (seventh from left) congratulates Alliance Global Group President and Chief Executive Officer Kevin L. Tan during the unveiling of the marker as Megaworld formally opens the 1,530-room Grand Westside Hotel in its Westside City township along Manila Bay in Parañaque. Also shown in photo are (from left) Parañaque City Mayor Eric Olivarez; Deputy Speaker Vincent Franco Frasco; Tourism Secretary Christina Garcia Frasco; Trade and Industry Secretary Alfredo Pascual; House Speaker Martin Romualdez; Pagcor chairman Alejandro Tengco; and key executives and officers from Megaworld and its hospitality arm, Megaworld Hotels & Resorts. MEGAWORLD PHOTO
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VEN with the “dangerous” challenge posed by the Chinese Coast Guard (CCG) in the West Philippine Sea (WPS), President Ferdinand R. Marcos Jr. said the country will not resort to war in resolving the issue. The chief executive made the remark during his talk with the troops of the Armed Forces of the Philippines (AFP) Western Command (Wescom) in Camp General Artemio Ricarte in Puerto Princesa, Palawan on Sunday. It came a day after the Philippine Coast Guard described the June 17 face-off between CCG and Philip-
pine naval units as a “wrong interpretation” of China’s intentions, adding that it does not fall under the definition of an “armed attack” that could invite escalatory action from Manila. At a forum on Saturday, PCG spokesperson for the West Philippine Sea Commodore Jay Tarriela had explained that the apparent aim of the Chinese coast guard sailors brandishing knives, pickaxes and other bladed weapons in the footage was to block the Philippine resupply mission at Ayungin Shoal, where the Philippines Armed Forces had posted the decaying ship BRP Sierra Madre as some sort of sentinel. The Chinese had been blocking
Philippine RORE missions at Ayungin in line with their claim that it is their territory. The Ayungin Shoal is located within the country’s 200mile Exclusive Economic Zone, but China insists it is within its territory. The CCG’s main objective, said Tarriela, “is not to have an armed attack or an aggression, but rather to prevent the Philippine government from completing the resupply mission.” In effect, what happened was a “wrong interpretation of the real intent of China,” he said. At the Wescom on Sunday, the President said, “We are not in the business [of instigating] wars—our great ambition is to provide a peaceful and prosperous life for every Filipino. This is the drum beat, this
is the principle that we live by and that we march by,” Marcos said. Marcos Jr. visited Wescom after 80 of its officials and troops were subjected to attacks and intimidation from the CCG, while they were engaged in a resupply mission to BRP Sierra Madre at the Ayungin Shoal last week. During the incident on 17 June 2024, a CCG ship rammed the Filipino resupply sea vessel. Chinese personnel then boarded and attacked the Filipino crew with bladed and pointed weapons in an attempt to stop the resupply mission. Seaman First Class Underwater Operator Jeffrey Facundo lost a finger during the melee.
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See “PBBM,” A2
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FARMERS TO ASK HIGH COURT TO HALT EO 62 n
Monday, June 24, 2024 Vol. 19 No. 251
P25.00 nationwide | 3 sections 28 pages |
By Ada Pelonia
F
ARMERS’ groups will file a petition for temporary restraining order (TRO) before the Supreme Court to prevent the implementation of Executive Order (EO) 62, which reduced tariffs on key agricultural commodities, including rice.
Virginia Lacsa Suarez, legal counsel of the broad agriculture sector coalition Sinag, cited the “unreasonable” reduction in tariffs and the absence of consultation and public hearing that should have been conducted by the Tariff Commission (TC) as grounds for filing the petition. “We do not even know the recommendation made by the National Economic and Development Authority [Neda], then suddenly there is this EO 62,” Suarez said in a mix of English and Filipino during a press briefing over the weekend. “So this is surprising to us. Why the rush? What is at stake here is the livelihood of Filipino farmers,” she added. Suarez also noted that groups are under time constraint because
EO 62 specifies that the tariff for rice will be slashed to 15 percent 15 days after the order is published in the Official Gazette or a newspaper of general circulation. “But we will do everything to prevent the implementation of EO 62,” Suarez said. The groups plan to file the petition from prohibition with prayer for a TRO or a writ of preliminary injunction before the High Court within the week. She also said they would talk to President Ferdinand Marcos Jr. and urge the administration to rescind the EO. “We should be helping Filipino farmers, but in reducing the rice tariff, we are bailing out the planters of other countries,” she added. See “Farmers,” A2
ERC reviews reliability index on power plant shutdowns By Lenie Lectura @llectura
T
HE Energy Regulatory Commission (ERC) will review the “reliability index” on power plant outages to ensure that power facilities undergo the needed operational servicing for better performance. Under the reliability index implemented since 2020, power generation companies are allowed to go offline for a certain number of days per year. For instance, a power plant fueled by pulverized coal, is allowed to be out of service for 44.7 days— comprising of 27.9 days of planned outages and 16.8 days of forced or unplanned outages. Coal plants running on circulating fluidized bed (CFB) technology, the allowable outages shall be for aggregate 32.3 days with 15.4 days of planned outages and 16.9 days
of unplanned outages. Geothermal plants are only allowed to be out for 19.7 days, with six days for planned outages and 13.7 days unplanned. Combined cycle plants are permitted for total outages of 20.2 days with 12.5 days for planned outages and 7.7 days for forced outages. The gas turbine plants have total outages of 29.2 days, or 6.5 days of planned and 22.7 days of unplanned outages. Diesel plants could go offline for 19 days, comprising of five days of planned and 14 days of forced outages. For geothermal facilities, the allowed period is for total outages of 19.7 days—six days of planned and 13.7 days of unplanned outages. Hydropower facilities could be out for 29.9 days, consisting of 23.1 days of planned and 6.8 days of unplanned outages. Continued on A2
MONEY MOVES A money changer at Terminal 3 in Pasay City, bustling with arriving passengers at NAIA Terminal 3, sees brisk business from OFWs and tourists exchanging foreign currency. The Philippine peso has fallen to its lowest point against the dollar since November 2022. NONIE REYES
PHL HOTEL INVESTORS DRAWN TO BOHOL, EL NIDO, SIARGAO By Ma. Stella F. Arnaldo
@akosistellaBM Special to the BusinessMirror
PROPERTY developers feel so optimistic about the prospects in the tourism industry and the economy as a whole, that they are increasing allocations toward hotel real estate in the coming years. This was among the findings of the Philippine Hotel Investment Outlook Survey for March-April 2024 by Leechiu Property Consultants (LPC) and the Philippine Hotel Owners Association (PHOA), which was distributed during the recent Philippine Tourism and Hotel Investment Summit 2024. “In contrast to more established hotel markets, developers in the Philippines lean towards greenfield hotel devel-
opments over acquiring existing properties...LPC has experienced a notable increase in land acquisition interest over the past year, reflecting a broader trend among developers nationwide as they pivot towards tourism-related developments,” according to the survey. It also found a shifting interest by investors to “emerging markets” such as Panglao Island, El Nido, and Siargao, although they were still keen on Metro Manila and Cebu City. “These [three] are increasingly identified as key growth hotspots offering compelling investment opportunities due to their untapped potential and rising popularity among tourists. Investors are particularly drawn to these regions by See “PHL,” A2
SM, RUNRIO MOUNT PRIDE RUN In celebration of Pride Month this June and to promote the Lesbian, Gay, Bisexual, Transgender, Queer, Intersex, and Asexual (LGBTQIA+) community, inclusivity, and diversity, the SM by the Bay, SM Mall of Asia Complex served as the venue for the first-ever Pride Run on June 22, 2024, where over 5,000 runners participated. With categories—10k, 5k, and 3k—the event was supported by the ArenaPlus and BingoPlus Foundation, LoveYourselfPH, Pantay Inc., and Metro Manila Pride Organization. (L-R): RunRio President Rio de la Cruz, SM Supermalls’ Vice President for Corporate Marketing Grace Magno, 10k race category winner Juan Carlo Igos, BingoPlus Foundation Executive Director Angela Wieneke, and LoveYourselfPH Head of Administration and Business Development Calvin June Sintoy. SM SUPERMALLS
PESO EXCHANGE RATES n US 58.7850 n JAPAN 0.3699 n UK 74.4218 n HK 7.5314 n CHINA 8.0966 n SINGAPORE 43.3966 n AUSTRALIA 39.1273 n EU 62.9293 n KOREA 0.0423 n SAUDI ARABIA 15.6701 Source: BSP (June 21, 2024)