Mindanao sellout?

Why is the United States Institute for Peace (USIP) – a federally-funded group represented here by its Philippine Facilitation Project Executive Director Eugene Martin and senior research associate Astrid Tuminez – meddling on the issue of the MILF Bangsa Moro ancestral domains claim? The USIP was created to promote the peaceful resolution of international conflicts. But it seems the USIP is trying to achieve just the exact opposite because it is reportedly encouraging the claim of the MILF that Mindanao is the Bangsa Moro’s "ancestral domain." The Spy-Ring also told us that this claim is being allegedly supported by the Philippines’ peace panel headed by Yoyong Afable. Affected sectors are concerned that if this "sellout" pushes through, people might just one day wake up with the flag of the Bangsa Moro-MILF flying over the entire Southern Philippines. The Spy-Ring also learned that a delegation from Zamboanga armed with documents will soon be arriving in Manila to expose this sinister plot. Perhaps Tuminez should conduct more research into the issue before making recommendations. Or better still, Martin and the USIP should concentrate their "peacekeeping" efforts in Iraq before they dip their fingers into the Mindanao issue, suggested the concerned sectors.

RSA’s 11th hour rescue

Butch Campos and the Lorenzos were just about ready to give up the option of buying Italian conglomerate Cirio’s stake in Del Monte to the First Pacific group, when Butch reportedly found a knight in shining armor in San Miguel’s president and COO Ramon S. Ang. According to our informants, Butch bumped into RSA at the Shang Palace restaurant the night before the deadline of what could have been a hostile takeover by First Pacific. Butch explained the situation and asked RSA if they could join forces. Ramon Ang was non-committal and just said, "I’ll see what I can do," before making a multimillion dollar call. Using his personal relationship with the Hong Kong bank, he called up London. Sure enough, shortly before the midnight deadline, at 11:55 p.m. to be exact — Butch Campos received a faxed credit line guarantee from HSBC for $260 million. An 11th hour rescue coming from RSA, "the knight in shining armor," with Butch Campos and his group ready to take over Del Monte by February 2006.

Beware of fly-by-night forwarders

With Christmas just around the corner, expect an upsurge of dollar remittances and padalas or balikbayan boxes from OFWs and expats to their relatives here. There have been reports, however, of lost or delayed delivery of packages from fly-by-night door-to-door dispatchers and freight forwarding agencies. The same is also true with dollar remittances with some banks delaying the crediting of cash to beneficiary’s accounts by several days even if the transaction was made through direct deposit transfers. Aside from the late delivery of remittances, families of OFWs have also complained about losses incurred during conversion of the peso-dollar exchange rate. For instance, if the prevailing exchange rate of 1:55 on the day the remittance is taken, the families would receive the cash equivalent a few days later at a much lower rate of 1: 54.50. Cebu Rep. Edgardo Gullas had earlier prodded the BSP, the DTI and the DOLE to establish minimum standards for banks, money transfer agencies, door-to-door dispatchers and other companies in the remittance business to protect the OFWs and their families not just from outrageous transfer fees, but also from foreign exchange conversion short-changing and sloppy delivery services. BSP Governor Amando Tetangco Jr. had recently declared that the BSP is now looking at proposals for a set of rules for remittance traders. Bottom line, however, is that OFWs and balikbayans should also be careful in choosing cargo or freight forwarding agencies to make sure that packages and balikbayan boxes get delivered on time, not lost or delayed.

Spybiz mail: Endriga of Nicphil replies

Insurance Commission-appointed conservator Tessie Endriga sent a letter and a press release belying a Nov. 22 Spybiz item about an alleged plan to divert the P7-million Philippine Association of Smelting and Refining (PASAR) claim for employee separation pay. Endriga also explained that Nicphil was already in "dire financial straits" when the directors started looking into employee reports, and went to then-Insurance Commissioner Ben Santos to advise him of their decision to voluntarily suspend operations and request for the services of a Conservator. The accompanying press release stated that "for the record, Nicphil insurance has not been ‘cash strapped since the Insurance Commission granted it a 90-day cessation of operations last July’."

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