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Business

Faith in the NBI

HIDDEN AGENDA -

News that the National Bureau of Investigation has shelved the release of its official findings regarding the death of Trina Etong, wife of broadcaster Ted Failon, may have placed the agency in a difficult situation.

Already, speculations are rife that the NBI is under some kind of pressure to “modify” its findings to conform with the wishes of some powerful individuals.

The speculations that the NBI could be under some pressure is understandable. The official report was supposed to have been out last Monday, but was shelved soon after NBI Regional Director Ric Diaz came under fire for expressing his view that the probe of Trina Etong’s death could be leaning towards a conclusive finding of suicide, not murder or homicide.

We do not fault Diaz for speaking on the subject matter. After all, he is supposed to be the official spokesperson of the NBI on the Trina Etong case. And the public has been hungry for updates on the NBI probe.

We hope the rumor that the NBI is under pressure “to modify” its findings is not true.

And if ever such pressure does exist, we hope that the NBI does not succumb to it. We still believe in the integrity of the agency, and we will choose to keep our faith on the NBI on this particular case.

And if the rumored pressure on the NBI is true, we urge the source of the pressure to lay off. If the intention is to give Ted more trouble by “modifying” the results of the NBI probe, then these parties are mistaken. It is the NBI, more than anyone else, who will suffer the consequences of an unwarranted “modification”.

The NBI is an important cog in the justice system. On the integrity and the credibility of the investigation results lie the wisdom of the final judgment or resolution of a legal case.

This is why the NBI must be allowed to do its job unhindered by any pressure. The moment the results of its probe come under a cloud of doubt, the rest of the process suffers a similar fate.

With all due respect to the parties concerned, this was exactly what happened to the initial investigation by the Quezon City Police Criminal Investigation Division.

Whatever it was that the public saw in the initial handling of Trina’s death spurred views that the police probers have an axe to grind against Failon. Which is why the NBI has been asked to step in. The goal is to re-establish the credibility of the investigation process.

Pressuring the NBI is not the proper way to get even with Ted, or with any hard-hitting media person for that matter.

Pressuring the NBI can only result in damage to the NBI’s credibility. No one else’s.

So, let’s leave the NBI alone so it can do its job properly.

Another outstanding feat

Once again, Security Bank has proven to all and sundry that inspite of the prevailing economic gloom, it can be done.

Security Bank has just reported an amazing 23 percent return on equity (ROE) for the first quarter of 2009, higher than the 19 percent ROE for the full year 2008, thus maintaining its track record of offering superior returns for its shareholders as well as of possessing one of the best ROEs in the industry.

The bank also posted a 24 percent year-on-year increase in net interest income to P1.4 billion for the quarter from P1.1 billion last year. While its net income for the first quarter was 10 percent lower, this is due to the fact that earnings for the same period last year were extraordinarily high. Likewise, the first quarter income was much better than the bank’s target for the period.

Bank officials have emphasized that Security Bank’s first quarter 2009 performance is better than its targets for the period and is on track towards achieving its expected full year performance goals.

The bank’s loan portfolio grew 38 percent to P67 billion during the period while its deposit base increased 28 percent to P108 billion. Its Non-performing loans ratio of 1.4 percent for the period remains among the best in the industry and represents a continued improvement over the 2.8 percent registered in the first quarter of 2008. NPL cover, meanwhile, remains unparalleled at 285 percent versus the 200 percent recorded a year earlier. 

While Security Bank recognizes that the dislocation brought about the current global financial crisis has yet to fully stabilize, the bank said it continues to maintain an outlook of guarded optimism that it will achieve its full-year performance targets with the significant and steady growth of core businesses, which continue to provide the bank with a solid foundation and fundamentally sound balance sheet and capital base.

Unnecessary alarm

A Department of Health-commissioned study conducted by the Philippine Society of Clinical and Occupational Toxicology and the UP National Poison Management and Control Center on the effects of aerial pesticide spraying is now the subject of intense criticisms from some quarters who believe that it is far from conclusive.

While the study showed that there were “statistically negligible” levels or hardly any fungicide residue detected in the air, soil and water in Sitio Camocaan in Hagonoy, Davao del Sur, it concluded that there was a need to ban aerial spraying. Isn’t the conclusion far from being scientific? After all, this method of fungicide application has been approved by the Fertilizer and Pesticide Authority in accordance with international standards.

Some residents of Sitio Camocaan, located next to the banana plantation of GADECO, have been complaining of certain discomforts or sickness.

But the study is far from being representative. After all, its subject consisted only of 38 residents, and the sitio has a very high malnutrition rate of 40.9 percent. They eat a lot of cassava, huge consumption of which has been linked to goiter.  And many are in agreement with what the technical committee of the Pilipino Banana Growers and Exporters Association (PBGEA) that “against this backdrop of poverty and malnutrition, it is not surprising that the residents have various medical conditions diagnosed as anemia, intestinal parasitism, dental caries and occasional thyroid-related and dermatologic conditions.”

The PBGEA is now calling for a more comprehensive scientific research on the impact of aerial spraying on humans. PBGEA president Stephen Antig has emphasized that decisions have to be made using solid, science-based assessments.

Antig has questioned why the study groups have omitted certain findings, which, if highlighted, would have cast serious doubts on their conclusion blaming aerial spraying for the health complaints of the Camocaan respondents.

The study showed that: first, the ethylenethioruea (ETU) detected in the air and soil was permissible or below the remediation program level set by the US-Environmental Protection Agency (EPA); second, there was no detectable chlorothalonil residue in the water and extremely low chlorothalonil residues in the soil; and, third, the thyroid stimulating hormone (TSH) was higher in Camocaan respondents than in Baliwaga, another study area, but that “may be partly accounted for by diet,” as the people in the former village had less fish and other seafood in their meals.

According to the PBGEA technical committee, the study also failed to consider relevant data on the percentage of respondents who were smokers, pregnant, malnourished or who drank alcohol.

We will not tolerate any attempt to further destroy our environment. But let’s not get into witch-hunting.

Malicious move?

Just recently, my inbox was bombarded with e-mails, asking me to view a certain video uploaded on YouTube.

That video allegedly recorded construction magnate FF Cruz signing certain documents in the men’s room of the Comelec office, rushing certain documents needed in connection with the bid of the consortium of Gilat, FF Cruz and Co. and Filipinas Systems Inc. for the automated election system.

The video was entitled “FF Cruz signing bid documents in Comelec bathroom (while Rafanan waits).” Ferdinand Rafanan is the head of Comelec’s special bids and awards committee.

Unfortunately, viewing the video was a waste of time. Rafanan was not in the video. The one capturing the signing was obviously not hidden and his presence was apparently known to FF Cruz and company. There was no clue what papers FF Cruz was signing.  From the video alone, no conclusion could be reached that FF Cruz was doing something out of the ordinary.

FF Cruz has admitted that indeed, he was the one caught on tape.  But he said the papers he was signing were urgently needed for another transaction, and not the Comelec bidding.

There are some quarters who can’t help but think that maybe, the malicious uploading of the video was part of a plot to sabotage the automation of the 2010 elections so as to force the Comelec  to revert to manual counting. Even Comelec chairman Jose Melo is inclined to believe this theory.

It’s about time that Filipinos say no to manual counting of votes and to desperate attempts to discredit automation.

For comments, e-mail at [email protected]

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