Seized counterfeit products reach more than P35-B in Jan. to Sept.

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September 26, 2024 6:17 am

A seller of "class A" shoes checks one of the items displayed at his stall inside a mall along J.P. Laurel Avenue in Davao City on Thursday. Edge Davao

The value of counterfeit goods seized this year has reached PHP35.2 billion, according to the data released by Intellectual Property of the Philippines (IPOPHL) on Tuesday.

The figures were released during the 2024 National Committee on Intellectual Property Rights (NCIPR) High-Level meeting at the Admiral Hotel in Manila.

Data showed that the value of confiscated counterfeit products from January to September this year has surpassed the previous record of PHP26.89 billion in 2023.

“The success of our coordinated enforcement strategies sends a clear message: we stand firm against intellectual property violations,” iPOPHL Director General and NCIPR Acting Chair Rowel Barba said.

“Dismantling counterfeiting networks is not merely regulatory, it’s foundational in spurring economic growth and upholding the values of fairness that we hold as a people,” he added.

The IPOPHL said 99 percent of the seized goods this year were from the Bureau of Customs’ operations.

The Philippine National Police seized PHP25.36 million, while the National Bureau of Investigation’s seized products amounted to PHP14.5 million.

“The BOC and the rest of the NCIPR have been relentless in rooting out counterfeits in both online markets and storefronts,” Supervising Director of IPOPHL’s IP Rights Enforcement Office Christine Pangilinan-Canlapan said.

She, however, said the increase in the value of seized products, “does not necessarily equate to rampant counterfeit trade.”

“Instead, it reflects our dedication to transparency and the effectiveness of our efforts to turn the tides against counterfeit trade,” she said.

For this year, IPOPHL expects the total value of counterfeit goods to reach as high as PHP40 billion.

“We’re proud to share that the Philippines is looked upon as one of the champions for IP enforcement in the ASEAN region, not only in the ASEAN region but also in the global environment,” Barba said.

He said the United States Patent and Trademark Office and the Intellectual Property Office of the United Kingdom are also helping the Philippines combat piracy.

“So, they continue to support us in our fight against counterfeiting and piracy. So, we have been supported through capacity building, through the different programs on capacitating, especially our law enforcement agencies. And we hope to continue with that,” he said.

In another statement, IPOPHL Deputy Director General Nathaniel Arevalo said counterfeiting and piracy are linked to financing activities of organized crime groups.

“Trade in illegal goods is a transnational crime often run by complex criminal networks. Failing to deter illicit goods such as IP infringing goods from the market further emboldens these criminal groups to expand their operations and harm more people and brands,” Arevalo said.

“IPOPHL is committed to strengthen efforts at the NCIPR, intensify our cooperation internally and with external members and improve the country’s reputation in the FATF and in the global context as an enabler of creativity, innovation and legitimate businesses.” (PNA)

ENVIRONMENT: Water crisis is for real!

By

Henrylito D. Tacio

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September 26, 2024 6:13 am

26water1 — When there is a water crisis, people are waiting for ration.

Everyone, wherever they are situated, has the right to water. Unfortunately, billions of people around the world have no access to safely managed drinking water, defined as water that is accessible on premises, available when needed and free from contamination.

“In the Philippines, around one in 10 people still do not have access to improved water sources,” says the regional office of the World Health Organization (WHO).

“Water is an extremely important resource that we cannot live without. But there are Filipinos who are still being left behind in terms of access to improved water sources, especially in rural communities,” the United Nations health agency said.

Although the country is surrounded by water, the water crisis is already prevalent.

For instance, Davao City, which prides itself as having the best fresh water in the country, already has a water problem. At one time, a managing editor of a local daily complained of not having water in their barangay for a couple of hours.

A friend posted a comment that in her area, the drip was so miniscule that she had to wait for a pail to be filled up with water for 30 minutes. She called the water district to see if there was a repair being made and the other end answered there was none.

It may be unthinkable to have a water crisis, but a study done in 1991 by the Japan International Cooperation Agency has identified Davao City as among the nine major cities in the country as “water-critical areas.” The other eight were Metro Manila, Metro Cebu, Baguio, Angeles, Bacolod, Iloilo, Cagayan de Oro and Zamboanga.

Some 75 kilometers away from Davao City, in the town of Bansalan, Davao del Sur, residents of barangay Poblacion Dos were having hard times since for a week already there was no water gushing from their faucets. It means no water to drink, to cook foods, to be used for bathing and washing clothes. A few considered the situation a nightmare.

Unlike in the past when you can drink tap water directly from your faucet, such is not the case anymore. These days, people buy mineral water just to quench their thirst. In fact, plastic bottles of water are being sold in bus terminals and even in some sidewalks.

“Water isn’t just a commodity. It is a source of life,” Dr. Sandra Postel, director of the Massachusetts-based Global Water Policy Project, told Edge Davao in an exclusive interview.

Dr. Postel believes water problems will trail climate change as a threat to the human future. “Although the two are related, water has no substitutes,” she explains. “We can transition away from coal and oil to solar, wind and other renewable energy sources. But there is no transitioning away from water to something else.”

To think, water is finite. Less than 3% of the world’s water is fresh, and more than 75% of this is frozen – mainly at the North and South Poles. Of the remaining freshwater, 98% lies underground. People and land-dwelling animals can only access about 0.01% of all the world’s water.

In some parts of the country, this is now a common sight.

According to the Rome-based UN Food and Agriculture Organization (FAO), if all the earth’s water were to fit in a gallon jug (4 liters), the available fresh water would be just over one tablespoon.

“World demand for water doubles every 21 years, but the volume available is the same as it was in the Roman times,” observes Sir Crispin Tickell, former Briths ambassador to the United Nations and one of the organizers of the 1992 Earth Summit. “Something has got to give.”

Around the globe, water tables are falling, underground aquifers are being depleted, lakes are shrinking and wetlands crucial to the survival of plants and wildlife are drying up. But despite all these, the international community ignored the signs.

Water is used in different ways. Domestically, water is utilized by households for drinking, washing, bathing, cooking, watering of gardens and other domestic uses. A household of five needs at least 120 liters of water per day to meet basic needs, Worldwatch Institute said.

“A person can survive only three to five days without water, in some cases people have survived for an average of one week,” says thewaterpage.com. “Once the body is deprived of fluids the cells and organs in the body begin to deteriorate. The presence of water in the body could mean the difference between life and death.”

According to the WHO, inadequate and intermittent water supply can have serious health consequences. “When water is scarce, people are often forced to rely on drinking water sources that may not be safe,” the UN health agency explains. “They may also lack sufficient water for basic hygiene – to wash themselves and their clothes, and to prevent infection including from foodborne and waterborne diseases.”

In addition, “low or negative water pressure in pipes due to short supply can attract contaminants that will put water quality at risk when the supply is restored,” the WHO says.

Water is also used for industrial purposes – in factories, industrial plants and mines, including the use of water as an ingredient of a finished product. Water is likewise needed for recreational purposes like those in swimming pools, water skiing, golf courses and other similar facilities in resorts.

Agriculture, however, is the biggest consumer of water. “The challenge is not to get enough water to drink, but to get enough water to produce food,” said Dr. Lester R. Brown, president of the Washington, D.C.-based Earth Policy Institute. “We drink, in one form or another, perhaps four liters of water per day. But the food we consume each day requires 2,000 liters of water to produce, or 500 times as much.”

For instance, to raise a ton of rice, you need a thousand gallons of water, according to the International Rice Research Institute. Some studies show that 89% of Filipinos consume rice daily. “Agriculture is where future water shortages will be most acute,” commented Time’s Michael S. Serrill.

More and more people are using water but will there be enough for everyone?

Data presented by former Agriculture Secretary William Dar showed agriculture to account for 80% of water usage in the country. By 2025, the water demand may increase to 72,973 million cubic meters.

For domestic and municipal uses, the water demand by 2025 is expected to be 8,573 million cubic meters while the industrial demand is 4,997 million cubic meters.

Back in 1746, American statesman Benjamin Franklin said: “When the well’s dry, we know the worth of water.”

“Unlike energy crisis,” commented Klaus Toepfer, former executive director of the United Nations Environment Program, “the water crisis is life threatening.”

Water – not oil! – is the precursor of war in the coming years. “Wars of the next century will be over water,” warned Ismail Serageldin in 1995. Crown Prince Hassan of Jordan said the 1967 Six-Day War was caused by tensions over the Jordan River and its tributaries. “It’s simply a question of survival,” said then Israeli Water Commissioner Meir Ben Meir. “Thirst for water is an ignition to violence.”

DOF: VAT on foreign digital services to be signed into law on October 2

By

Edge Davao

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September 26, 2024 6:00 am

Close-up of female hand pressing enter key to start the system

The Congress-approved measure seeking to impose a 12% value-added tax (VAT) on digital services provided by foreigners is expected to be signed into law next month, a top official of the Department of Finance (DOF) said Wednesday.

Citing developments during the Legislative Executive Development Advisory Council meeting attended by Finance Secretary Ralph Rector, DOF Undersecretary Domini Velasquez said, “One of the good news I heard from the meeting was the VAT on digital services providers will be signed on October 2.”

This was disclosed by Velasquez during the Management Association of the Philippines’ (MAP) General Membership Meeting in Taguig City on Wednesday.

In June, lawmakers approved the harmonized version of House Bill 4122 and Senate Bill 2528 during the bicameral conference.

The reconciled version of the bill seeks to slap a 12% VAT on digital transactions by non-resident digital service providers such as Netflix, Disney and HBO.

In her presentation, Velasquez said that the VAT on non-resident digital service providers could generate P79.5 billion in revenues for the government for the period 2025 to 2028.

Recto had earlier expressed confidence that the President will sign the measure into law, noting that the DOF along with its attached agencies are already preparing to craft the law’s implementing rules and regulations.

“Alam namin magiging batas ‘to at pipirmahan ng Pangulo ‘to…Sinusuportahan namin ‘to (We know this will become a law and the President will sign it into law… We are supporting it),” the Finance chief said.

ROS shows character in Game 1 win vs. Magnolia

By

Edge Davao

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September 26, 2024 5:59 am

26ROS — Rain or Shine's Jhonard Clarito in action against Magnolia in Game 1 of their PBA Governors' Cup quarterfinals series, Wednesday at the Ninoy Aquino Stadium. PBA Images

Yeng Guiao hailed his team for their character after Rain or Shine came away with a 109-105 win against Magnolia in Game 1 of their PBA Governors’ Cup quarterfinals series.

The Elasto Painters ramped up their defensive intensity in the closing minutes of their game on Wednesday at the Ninoy Aquino Stadium to take a 1-0 lead in the best-of-5 affair.

“We were just trying to grind it out,” said Guiao, whose team trailed 102-98 with under three minutes left.

“Noong natirahan kami ng tatlo, apat yatang four-point shots ‘yun, a team of weaker stuff would have folded up. So, it’s a testament to the character of the guys. We were able to come back out of that,” he added.

The Hotshots were looking to break the game open behind Jerrick Ahanmisi, who found his range behind the four-point line to put Magnolia in control. Aris Dionisio also joined the party, nailing his own four-pointer to make it a 10-point game, 94-84.

But the Elasto Painters showed no quit, and timely buckets by Andrei Caracut and Aaron Fuller kept them in the fight. After Rome dela Rosa knocked down two free throws for a 102-98 count, Rain or Shine kept the Hotshots scoreless in the next two minutes and 29 seconds while scoring eight points of their own.

A Caelan Tiongson triple made it a one-point game, 103-102, and two free throws by Fuller eventually gave Rain or Shine the lead for good.

Zavier Lucero kept Magnolia in the hunt with a clutch three with 25 seconds to go for a 106-105 count, and they still had a chance even with Jhonard Clarito making three free throws.

Unfortunately for the Hotshots, Paul Lee’s attempt at a game-tying four-pointer hit the rim as time expired.

“We made some big plays, the 3-point shot by Caelan, then some missed shots or we forced some stops, crucial stops. We were able to prevent them from executing,” said Guiao.

“Our character is being tested and at least for now, we passed the test,” he added.

Fuller had another big game, with 24 points and 20 boards for Rain or Shine, while Clarito finished with 20 markers.

Magnolia import Ray Rice had only 16 points on 6-of-20 shooting. Ahanmisi finished with 15 points after making three of his four attempts from the four-point arc.

Game 2 of the series is on Friday in Sta. Rosa.

The Scores :

RAIN OR SHINE 109 – Fuller 24, Clarito 20, Nocum 14, Santillan 12, Mamuyac 12, Caracut 9, Tiongson 9, Lemetti 5, Belga 2, Datu 2, Asistio 0

MAGNOLIA 105 – Rice 16, Lee 15, Ahanmisi 15, Barroca 12, Lucero 11, Sangalang 11, Dela Rosa 8, Dionisio 7, Abueva 6, laput 2, Eriobu 2, Mendoza 0, Reavis 0

QUARTERS : 19-16, 51-50, 82-80, 109-105

VP Sara skips budget hearing for 3rd time, cites reasons

By

Maya Padillo

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September 26, 2024 5:56 am

Vice President Sara Duterte has once again skipped the continuation of inquiry of the House Committee on Good Government and Public Accountability into the budget utilization of the Office of the Vice President (OVP) citing reasons behind her absence.

In her letter addressed to Congressman Joel R. Chua, chairperson on the Committee on Good Government and Public Accountability in the House of Representatives (HOR), the vice president informed the latter that the OVP will not be attending the deliberation hinting the same is a useless exercise.

Duterte stated that the inquiry is based on unsubstantiated allegations contained in a privileged speech by Cong. Rolando Valeriano who cited that the 2023, 2024, and 2025 budget of the OVP were concentrated in the National Capital Region.

“He also cast doubt on the reported beneficiaries and strategic partnerships. Such claims can be easily verified through the accomplishment reports submitted by the OVP to support its 2025 budget proposal, and confirmed through various news reports, COA reports and postings on various social media platforms. Clearly, the conduct of a formal inquiry or hearing on the matter is unnecessary,” Duterte said.

The vice president added that should there be a need for a formal inquiry to be made, then a draft house bill should at least be presented to ensure that the discussions would be germane to the subject matter.

“In fact, the invitation of the Committee itself lacks any clear legislative objective or contemplated legislation that is expected as an outcome of the deliberations,” she said.

The vice president said other reasons for not showing up in the inquiry is that the Rules of Procedure Governing Inquiries in Aid of Legislation (Rules) of the HOR do not conform to the Constitution and violate the rights, privacy and dignity of persons appearing therein; and the respect for the rights of persons appearing in such inquiries has been well-settled.

“Inquiries should not be adversarial nor prosecutorial and should recognize the right of persons to refuse to participate in the crafting of laws. The HOR cannot compel people to participate in the legislative process and such right is protected by the Constitution,” Duterte stated.

Lastly, Duterte cited that discussion of issues pending before the Supreme Court should not be discussed before the HOR.

“Lest we violate the rule on subjudice, or the rule that restricts comments and disclosures pertaining to judicial proceedings. Speaking or commenting on the matter may directly or indirectly impede, obstruct or degrade the administration of justice. The OVP has been filing its comments in response to the various petitions filed before the Supreme Court,” the vice president stated.

Groups urged to file a Writ of Kalikasan against SIDC Project

By

Maya Padillo

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September 26, 2024 5:30 am

Councilor Temujin “Tek” Ocampo tells local environmentalists to file a Writ of Kalikasan before the Supreme Court if they want the construction of the Samal Island-Davao City Connector (SIDC) project be stopped or reviewed as it is the proper venue. LEAN DAVAL JR

Councilor Temujin “Tek” Ocampo, chairperson of the Committee of Environment, urged environmental groups, Sustainable Davao Movement (SDM) and Ecoteneo of the Ateneo de Davao University, to file a Writ of Kalikasan before the Supreme Court (SC) if they perceived that the construction of the 4.07-kilometer Samal Island – Davao City Connector (SIDC) Project will cause destruction to the environment.

The said environmental groups have raised concerns about the impact of the construction on the environment particularly the corals in the Paradise Reef.

“Nasabtan pud nato ang concerns sa other sectors but then again we need to follow what is the process kay kung gusto nato na ipahunong, they should file the Writ of Kalikasan in the court because that is the proper venue and the city council cannot decide on matters like that,” Ocampo said during the Aprubado sa Konseho media briefing on Tuesday.

Ocampo said during the deliberation in the committee hearing, Bagani Evasco, former regional director of the Department of Environment and Natural Resources 11 (DENR 11) showed a video of the corals in the Paradise Reef and assured him that there is a way to relocate them, if not relocate if the corals will be damaged, they can be rehabilitated.

“Naa man gud sila gihimo sa Mabini nga nag repopulate sila sa corals by putting artificial reefs and they were able to rebuild it in around eight months. Kay mao tu akong concerns kung simbako naay madaut dinha unsa man ang pasalig sa DENR mahitungod niana ug sulti nila ila gyud daw i-rehabilitate,” Ocampo said.

Ocampo said that the groups also raised concerns that the construction would disturb the marine life.

“Ang Department of Public Works and Highways (DPWH) nag-explain during the committee hearing ug gi-demonstrate nila ang technology nga ibutang nila tung mura ug tubo sa dagat and then vibration lang hinayhinay ug lubong and kuhaon tung balas na makuha didto and then i-recycle ang balas ug sagulan nila ug semento ug mao tu ilang gamiton as poste sa tulay,” he explained.

Ocampo said the DPWH assured that no sand would be wasted during the dredging.

He said that DENR also assured that the equipment that they will be using will not have a great impact on the marine life.

Engr. Joweto Tulaylay, Project Manager of the SIDC Project, stated the proposed mitigating measures will be observed according to the Environmental Impact Assessment (EIA) conducted by the DPWH, and a Multipartite Monitoring Team (MMT) will monitor any damage caused during construction and respond with appropriate mitigating or rehabilitating measures.

“Sa pangutana kung puwede ba masibog ang tulay as requested by opposing parties, maglisod daw sila ana kay the tulay itself is already mao nato ang pinaka the best alignment,” Ocampo said.

Ocampo was referring to the request of Ecoteneo and SDM to share their studies which may allow a window to revisit the landing site options that may directly affect the Paradise Reef and the SIDC project design to meet economic gains with ecological sustainability.

“Ang cost man gud daw kung magbalhin ka ug tulay is around P2 billion per kilometer. Dili na pud daw na puwede ibalhin kay according to them (DPWH) mao na gyud tu ang the best area,” he said.

Ocampo said that on the Davao City side, there are only artificial corals established by the Bureau of Fisheries and Aquatic Resources (BFAR).

“Ang pangutana nako sa BFAR ug DENR unsa ang effect as far as the environment is concern, can be manage man daw ug mao gihapon kung naay maapektuhan they can rehabilitate,” Ocampo said.

Based on the summary of the consolidated committee report and after verification, it was found out that the issues and concerns raised regarding the impact of the project on coral reefs and the local ecosystem, the issuance of SP Resolution prior the grant of Environmental Compliance Certificate (ECC), traffic congestion, realignment of the SIDC Bridge, issues concerning Marine Protected Areas (MPA), the impact on nearby businesses and individuals, have been clarified and addressed based on the above discussions, and the documents submitted by the concerned government agencies confirm full compliance before the commencement of the construction of the SIDC Connector Project.

“Moreover, the primary environmental concern about the destruction of the coral reefs on Samal Island, as raised by concerned individuals, was outside the jurisdiction of the city government of Davao. Given that the SIDC is a national infrastructure project involving two localities Davao City and Samal, and crossing territorial boundaries, any specific environmental concerns should be escalated to the appropriate government agencies such as DENR at the regional and national level, or to the proper court if necessary,” it said.

The SIDC Project is a 4-lane extra dosed bridge with a 530-meter main bridge; a land viaduct of 570-meter on the Davao City side and 395-meter on the Samal Island side; and western and eastern marine viaducts of 350-meter and 510-meter, respectively. It has ramps tapping into the R. Castillo-Daang Maharlika junction, Davao City, and a 24-meter wide at-grade road and roundabout at Brgy. Limao along Samal Circumferential Road, IGaCoS.

Dad pushes for stronger policies to safeguard teachers from harassment, humiliation

By

Maya Padillo

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September 26, 2024 5:00 am

The 20th City Council unanimously approved the Moral Recovery Program Ordinance authored by Councilor Pilar Braga on Tuesday. Braga said the program seeks to uphold the seven core values essential to the city government of Davao namely leadership, good governance, service excellence, resiliency, unity, integrity, and discipline. LEAN DAVAL JR

Councilor Pilar C. Braga, chairperson of the Committee on Education of the City Council, on Tuesday pushed for stronger policies to safeguard the teachers from harassment, humiliation, and emotional abuse.

“We, in Davao City, must lead by example. I call on this Council to push for stronger policies that safeguard our teachers from harassment, humiliation, and emotional abuse. We must ensure that our schools are places of respect, dignity, and support for both students and teachers,” Braga said in her privileged speech.

This developed following the death of Marjorie Llanto-Boldo, teacher of Tibagon Elementary School in Pantukan, Davao de Oro, on September 19 due to severe stress after she was allegedly scolded by her principal, Alvin Escobar, for not adequately disciplining her students.

Reports said the accusation of her principal left Boldo devastated and questioning her role as an educator.

“This tragedy serves as a painful reminder of the challenges our teachers face, not only in Davao de Oro but here in Davao City and across the nation. Our teachers dedicate their lives to shaping the minds and futures of our children, often at great personal cost. For a teacher to lose her life—allegedly due to emotional distress caused by harsh treatment from her superior—is unacceptable,” Braga said.

Braga pushed that programs that will promote mental health and emotional well-being should be integral to the educational system and that the City Council must hold those in leadership accountable for fostering a positive and nurturing environment in the schools.

“As leaders of Davao City, we have a responsibility to protect the well-being of our educators. They are the backbone of our society, and their mental and emotional health should be a top priority. While I commend the Department of Education for taking immediate steps to investigate this incident, it is clear that more needs to be done to prevent such tragedies,” Braga said.

Braga added that the City Council must ensure that the schools are places of respect, dignity, and support for both students and teachers.

“Let this tragic loss be a wake-up call for all of us. We owe it to our teachers to provide them with the respect and support they deserve. No teacher should ever feel that their worth as an educator is diminished by the careless words or actions of a superior,” she said.

San Juan shines in La Salle’s 89-65 win over FEU

By

Philippine News Agency

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September 26, 2024 4:59 am

26sanjuan — HOT HAND. De La Salle University's Luisa San Juan (No. 34) reacts after firing a three-pointer during the game against Far Eastern University in the UAAP Season 87 women's basketball tournament at the Smart Araneta Coliseum on Wednesday (September 25, 2024). The Filipino-British guard sank a league record of 10 triples in a game in leading the Lady Archers to an 89-65 victory. (UAAP photo)

Luisa San Juan sizzled with 34 points, including a record 10 triples, as De La Salle University demolished Far Eastern University, 89-65, in the UAAP Season 87 women’s basketball tournament at the Smart Araneta Coliseum on Wednesday.

The Filipino-British guard broke the eight triples of fellow Lady Archer Khate Castillo in a 60-67 loss to Adamson University on October 29, 2017.

San Juan, 22, also tied the record of National University’s Jeff Napa (vs Adamson, Season 65, August 22, 2002) and University of the East’s Allan Caidic (Season 48, 1985).

Her 34-point output likewise matched Ateneo’s Kacey dela Rosa’s performance against the University of the Philippines last September 8.

“I got my confidence from my teammates and coaches. They believe in me and the trust that they give me, that’s the biggest thing for me,” said San Juan, who also had six rebounds, two assists, and two steals.

“I don’t know the records but I’m grateful. I’m not expecting that, I just do my role and I think it starts with what Coach Cholo (Villanueva) is asking us to do,” she added.

Patricia Mendoza chipped in 16 points, 15 rebounds, three assists, three blocks, and two steals as La Salle ended a four-game slump.

Kyla Sunga contributed 14 points and 15 rebounds for the Lady Archers, who posted their biggest lead at 85-60.

MJ Manguiat came up with five triples to finish with 19 points along with four rebounds, four assists, and three steals, but her effort was not good enough to carry the Lady Tams, whose best effort was taking a 5-2 lead at the start.

Shane Salvani had 13 points, six rebounds, and five assists followed by Erica Joi Lopez with eight points, while Maxene Dela Torre and Rea Fe Ong added seven points each for FEU, which absorbed its second straight loss.

“We’re breaking records in the program of the Lady Archers, but seriously, it’s a good win for us. The grit that I wanted to see from the girls, they showed it today,” said La Salle head coach Cholo Villanueva, also Castillo’s mentor in UAAP Season 80.

La Salle will face reigning champion University of Santo Tomas, while FEU will meet Ateneo de Manila University, on Sunday at the Smart Araneta Coliseum. (PNA)

SEC releases guidelines on equity, retirement accounts

By

Edge Davao

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September 26, 2024 3:17 am

The Securities and Exchange Commission (SEC) on Tuesday said it has released the guidelines for the accreditation of financial market participants offering Personal Equity and Retirement Account (PERA) products.

In a statement, the SEC said it issued, last September 19, Memorandum Circular No. 14 series of 2024 which outlined the guidelines on the accreditation requirements of PERA Market Participants, under Republic Act No. 9505, or the PERA Act of 2008, and its implementing rules and regulations (IRR).

The PERA law provides tax benefits while instilling the discipline of saving money by making annual contributions.

Unlike existing national or corporate pension schemes, PERA does not require a deduction from one’s salary to accumulate funds.

The SEC said it recently issued guidelines to entities regulated by the SEC seeking to register as a PERA market participant, such as a PERA administrator or investment manager.

The corporate and capital markets regulator said that securities brokers, investment houses, and investment company advisers or fund managers may register as PERA administrators, while investment company advisers or fund managers may register as investment managers.

“Other entities or individuals as may be determined by the Commission as having the qualifications to be accredited as administrator or investment manager may also apply,” it said.

The SEC said its regulated entities seeking to apply as PERA administrators or investment managers must apply for the issuance of qualification certificates with the SEC Markets and Securities Regulation Department.

“To qualify as a PERA administrator, the applicant must maintain a net worth of at least P100 million at all times; adopt and fully comply with a Manual of Corporate Governance; provide a clear and sufficient organizational plan or structure of its personnel who will perform PERA administration functions; and possess adequate systems and technological capabilities, as well as the necessary technical expertise and personnel to administer all types of PERA investment products,” it said.

“The applicant must also submit proof that it has sufficient personnel who have undergone the requisite training prescribed or approved by the Commission to educate PERA contributors on the nature of a PERA and the requirements, risks, and benefits of the investment product, among others,” it added.

Pursuant to the PERA IRR, the SEC said the guidelines also require registered PERA administrators to hold government securities equivalent to 1% of the book value of the total volume of PERA assets administered or such other amount as the regulator may impose, earmarked in favor of the commission.

“This will serve as security for the faithful performance of its duties. The amount shall be in addition to and shall be treated separately from the capital, surplus, and undivided profits of the administrator,” it said.

“The Commission, however, has decided to temporarily reduce the amount of the security deposit to 0.0% of the book value of the total volume of PERA assets administered. This is to encourage market participants to apply as a PERA administrator,” it added.

Moreover, the SEC said regulated entities applying to be PERA investment managers must have written supervision and control procedures for the conduct of the investment management functions, with proof of at least five years’ experience in professional investment management.

“They must also provide certified true copies of educational, professional/technical, or other academic qualifications of its principal officers; Certification Requirement for Compliance Officer; copy of the form contract or agreement between the contributor and investment manager, and the schedule of commission charges and/or fees it will charge for its services,” it said.

Team Replicon rules 15th Eaglemaster Golf Tourney

By

Chito Malabanan

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September 25, 2024 11:11 pm

After four days of intense golf in Davao’s three prime golf courses, one team stood head shoulder above the rest. Team Replicon showed everyone they are the masters of the 15th Eaglemaster Golf Tournament.

Team Replicon skippered by Alexander Bisera led from Day One up to the last putt on the final day of the tournament. Bisera conspired with young guns of Davao golf Jhondie Quibol, Ronel Tagaan, Ricky Pineda and Nino Villacencio to rule the Championship Division with an aggregate score of 415 points using the Stableford Scoring System. Team RMC compose of Rolando Bregente, Alexis Nailga, Vince Luterio, Christian Miguel Linaac and Raul Minoza came in as runner up with 400 points. Team Petro Gazz composed mostly of Davao Junior golf standouts placed a distant third to complete the cast of podium winners.

“We are overwhelmed by your support. More than 700 golfers competing in three different courses is a very big challenge, but we are glad we successfully overcome it. Salamat sa inyong lahat sa inyong suporta. Hats off to our president Secretary Leo Magno, who just flew in several hours ago just to attend this fellowship dinner. My fellow golfers, after four days of golf it’s time to relax, have fun, lets enjoy the evening while waiting for our names to be called in the raffle. Welcome everyone” Randy Cadiogan, tournament director said in his welcome remarks.

Team Britannika team A from Tupi, South Cotabato composed of John Paul Tamayo, Britanny Pauline Tamayo, Apollo Lamaton, Jared Saban and Rex Zaragoza Jr tallied 361 points to top Flight A division. Davao’s Team Club Car (359) followed suit as first runner up with Team Ambagan 2 (355) duplicating their feat last year finished again as the
second runner up.

Fore The Boys/Bong Trucking of Davao City was the runaway winner in Flight B (338) led by its president Alvin Tesado and supported by Cri Babol, Ryan Guiang, Jerico Bajo and Rekrek Mise. Team AZ Developers (319) came in as distant second and another Fore the Boys tem FTB3/Moonstruck (297) completing the podium as second runner up.

Team Britannika Team C (247) from South Cotabato composed of Rainier Tagwalan, Ricky Estardo, Nino Juele, Isagani Olano and Richard Taripe took the Flight C diadem. FTB/TFF Mamay Inn and Resort Team (241) followed closely to bag the second place honors for the division with Team TFF Lawyers (240) completing the division cast of winners in taking the second runner trophy.

Davao Eaglemaster Team 1 (370) held on to their lead from Day two to bag the title in the Seniors 2 Division with an imposing score of 381 points. The champion team composed of Joe Tesado, Lito Dublan, Elias Arriba, Lando Cachuela, Jorge Segovia and Jesse Panisales were never threatened in the four-day tournament and finished with plenty to spare. Team Isabela Golf Club Inc. (350) came in as distant second with Team 13th Tee (343) coming in as Third Placer.

Team Zamboanga Golf (497) of Bobong Cabang, Gil Lim, Patrick Lee, Joseph Dy and Henry Ratag ruled the Seniors 1 division. Team MCG Mimosa (490) and TFF Senior team (483) took the first runner up and second runner up honors respectively.

The Seniors Championship Flight division was ruled by 9Tee Gold Club (564) composed of Noel Beleran, Rommel Tello, Emilio Pedro Jr, Luis rex Bagante and Jose Ma Cuerpo.Team Napa de Oro (481) and Team Pugo (361) followed as second and third placers respectively.

“We are happy to host once again this year’s edition of the Eaglemaster golf tournament. The overwhelming support of more than 700 golfers and their companions who flocked to our city is very heartwarming. The golf community in Davao is again vibrant and we Dabawenyos are happy to promote the beauty of our city, the whole Mindanao as well as one of the top destination in the country not only for golf, but for tourism as a whole. Hats off to our tournament chairman Randy Cadiogan and to the staff, the organizing committee and to all my fellow Eaglemaster. Thank you also sponsors for the support but most of all, to you my fellow golfers, daghang salamat. See you again next year,” said Secretary Leo Magno, Mindanao Development Authority chair, also the concurrent Eaglemaster president.
The rest of the Individual winners are:

Flight A Gross Champion:Rekrek Mise
Runner Up: Kenneth Naro
Net Champion: Rex Zaragosa
Runner Up: Jonathan Cabreros

Flight B Gross Champion:Rainier Taglawan
Runner Up: Josue Jun Tesado
Net Champion: Jerico Bajo
Runner Up: Engr Chito Malabanan

Golfers were glued to their seats entertained by the music of a live band, drowned by the laughter and fun while partaking the overflowing foods, drinks and prizes during the awards night.

“Once again, on behalf of my fellow Eaglemaster, I am extending our sincerest thanks to all of you my fellow golfers for your support in making this tournament a huge success” says Randy Cadiogan. “Hoping to see you again next year in our 15th edition. Daghang Salamat, mabuhay po kayong lahat.,” Cadiogan concluded.