OFW Filipino Heroes

Saturday, July 7, 2012

Filipino soldiers’ Fighting Communist China - Korean War: Valor redux

By Art Villasanta

Philippine Daily Inquirer

In an astonishing act of humanity and selflessness, the Philippines sent its soldiers to defend South Korea against a massive communist invasion despite its having to contend with a communist rebellion of its own and the painful challenge of rebuilding an economy crippled by World War II.

The Philippines was the first Asian country to send combat troops to the Korean War that began on June 25, 1950. Its soldiers protected South Korea until 1955.

The first Filipino warrior set foot on Korea at the port city of Busan (formerly Pusan) on Sept. 19, 1950. The 10th Battalion Combat Team (BCT) was the first of five BCTs that would serve in Korea until June 1955 under the flag of the elite Philippine Expeditionary Force to Korea or Peftok.

Over 7,400 officers and men of the Philippine Army served in Korea. Five of these warriors—all in their 80s—recently returned to Korea for the first time since the Korean War. The Korean government sponsored their visit as part of the "Revisit Korea Program" for the Filipino war veterans and their families.

These veterans were accompanied by 15 other Filipinos who were either their children or grandchildren. Their host was South Korea's Ministry of Patriots and Veterans Affairs.

There were 299 wounded Filipino soldiers and 57 were missing in action.The battles were fought in Waegwan, Gimcheon, Daegu, Cheolwon, and the Imjin River.

These veterans were all astounded at the massive progress Korea had made over the past six decades. One veteran noted that our present economic situation is the reverse of what it had been in the 1950s.

The Philippines then was Southeast Asia's leading economic and military power and Asia's second largest economy after Japan. From being one of the world's poorest nations in the 1950s, South Korea is now one of the world's 30 richest in per capita gross domestic product.

Oldest Korean War veteran – Jesus Dizon

"I can't believe how fast South Korea has improved since the Korean War," said Jesus Dizon, who at 86 is the oldest Korean War veteran among the "revisitors." "It's a tribute to the Korean people."

His unit was the 20th BCT, the second Filipino BCT deployed to Korea. Dizon was a forward observer or FO, the most dangerous of allied soldiers, whose job was to identify targets for the six 105mm howitzers of the battalion's field artillery battery.

FOs got their deadly job done with a field telephone; a pair of powerful binoculars, maps—and a great deal of courage. They normally occupied well-hidden positions on hilltops or other dominating terrain near the enemy and spent days searching for enemy activity. The power of life or death held by an FO was terrifying.

In North Korea one morning, a large number of communist Chinese soldiers suddenly appeared below a ridgeline Dizon had been observing for some time. Dizon located the enemy unit on the grid map spread before him.

He calmly picked up his field telephone and called in the target coordinates to the battery's fire direction center of the battalion's artillery battery emplaced a few kilometers behind him.

"Fire!" he ordered.

A single high-explosive 105mm round exploded away from the Chinese unit. Dizon noted the fall of the ranging round through his binoculars. He reported the adjusted range over the phone and commanded the entire battery to open fire.

Six 105mm howitzers manned by Filipinos unleashed shell after shell into the Chinese. Dizon saw the bewildered Chinese engulfed by horrifying explosions as murderous blasts tore apart their unit.

The inferno was over in about a minute. A dirty pall of dust and smoke from the barrage lingering over the tragedy served as the gravestone for dozens of dead Chinese.

Wounded in action -  Luminoso Cruz

"All of this was flat," exclaimed Luminoso Cruz, referring to the thriving and crowded city of Suwon, 30 kilometers south of Seoul. "It was flat and gray. This city was totally destroyed."

Suwon was where Cruz's unit, the 10th BCT, spent its first Christmas in Korea. That was in 1950 and the 10th was the first of the five BCTs that served in Korea.

Cruz, a member of Recon Company, was the gunner of an M24 Chaffee light tank armed with a 75mm cannon. He took a shrapnel wound to the head along the banks of the Imjin River and was visibly moved as the bus crossed the river north during his visit to the Demilitarized Zone.

"This was where I was wounded," he said, pointing to the bank of the Imjin, while holding back his tears.

He fought in a two-man foxhole at the great Battle of Yuldong, which he recalled as a night of incredible terror.

"The Chinese attacked us in waves all night. My buddy and I just kept firing and firing our rifles," he recalled of this gory battle, which was fought on April 23, 1951.

He doesn't know how they survived the murderous hell of Yuldong. But his buddy had to be sent home afterwards. His nerves had given way under the terror of too much savage combat.

They called it "shell shock" then. We call it "post-traumatic stress disorder" today.

The Battle of Yuldong was the greatest Filipino victory in the Korean War. A mere 900 Filipino fighting men withstood the night attack of an entire communist Chinese army that numbered 40,000 men at peak strength.

In standing their ground at Yuldong, the Filipinos fatally slowed down the largest Chinese offensive of the war, and probably helped prevent the destruction of the United Nations forces and the communist conquest of South Korea.

One man's handiwork – Florendo Benedicto

Amiable and talkative, Florendo Benedicto served in both the 10th BCT and the 20th BCT. He decided to "re-up" or reenlist in the 20th BCT because he loved combat.

Benedicto stands almost 6-ft tall. In the Army at the time, tall men generally wound up becoming gunners in the belief they could carry heavier loads.

Benedicto's weapon was the M1919 Browning .30 cal. medium machine gun that could fire up to 600 rounds a minute. The gun itself weighed 14 kilograms and it was Benedicto's job to lug the gun onto the battlefield and fire it at the communist enemy. He did this on many occasions in two years of fighting.

He believes that South Korea's enviable economic blessings are due mostly to the strong unity pervading South Koreans.

"Their national unity is worth emulating," he said. "Filipinos should learn from the South Koreans. We have to establish love in the heart of every Filipino. We must love one another."

It is a startling transformation for a formerly fierce warrior. It is all the more surprising if one knows what he did in the Korean War.

"I know I killed about 200 Chinese," he said calmly when we talked about this. "I probably killed 300 more. I counted their dead bodies."

Benedicto's feat is all the more astounding since only 112 Filipino soldiers died in three years of combat in the Korean War despite almost constant fighting.

First winter experience

Constancio Sanchez turned 24 on the historic day the 10th BCT arrived by ship at Busan on Sept. 19, 1950, less than three months after the start of the Korean War on June 25.

Knowing this, his officers allowed Sanchez to become one of the first Filipino fighting men to set foot on Korean soil. His mates then treated him to merienda at one of the restaurants in the port city then being besieged by the communist North Korean People's Army.

Sanchez served in the Headquarters & Headquarters & Service Company, the command group of the 10th BCT. The battalion was founded and first commanded by Col. Mariano Azurin. Col. Dionisio Ojeda replaced Azurin in the spring of 1951.

Of all the dangers he faced in the war, Sanchez remains awed by that phenomenon alien to Filipino experience called winter. It was December 1950 and the battalion was in Pyongyang when the communist Chinese intervened and hurled the United Nations Command (including the 10th BCT) out of North Korea.

The winter of 1950-1951 was Korea's coldest in two centuries but this did nothing to dispel the savage fighting that actually intensified with the Chinese intervention.

"We were shocked when the Chinese came and advanced so quickly," he said. "We had to withdraw rapidly to avoid encirclement and it was terribly cold."

Things would have been far worse for the battalion if the Chinese had attacked earlier, Sanchez believes. The onset of winter a month earlier immobilized most of their motor vehicles.

The intense subzero cold froze the water in engines and shattered engine blocks. This paralyzed most of the battalion's vehicles, including those in the transport-heavy HQ & HQ & Service Company.

Adding antifreeze to the water solved the problem, however, so that when the Chinese came, the battalion's trucks, jeeps and armored vehicles kept running despite the intense cold.

"We probably wouldn't have escaped from Pyongyang if we had to march on foot through the snow."

The monument in Gwansan-dong, Dugyang-gu, Goyang-si, Gyeonggi-do Province was erected by the Ministry of National Defense of Korea on October 2, 1974 in memory of the members of the Philippine armed forces who fought to defend the security and freedom of South Korea against North Korea. The Philippine contingent was composed of 1,496 soldiers. Ninety-two (92) Filipino soldiers died in the battle.

Rediscovering God

Prudencio Medrano served in the HQ & HQ & Service Company of the 19th BCT, the third Peftok unit deployed to Korea, and re-upped for another year with the 14th BCT. And this was because of his friends.

"I re-enlisted because we were 'buddy-buddy,'" he said. "Five of my buddies in the 19th BCT decided to extend. They asked me if I wanted to extend and I did because they were my buddies."

In both BCTs, Medrano served as a radio operator of their battalion commanders—Col. Ramon Aguirre of the 19th and Col. Nicanor Jimenez of the 14th.

With the 19th, Medrano recalled he was often in the advanced command post with Colonel Aguirre. His job was to transmit and receive voice messages and telegraph messages via Morse Code. Lives depended on the accuracy of his messages.

Medrano rediscovered God amid the horror of the Korean War. The long spells between action and boredom along the static front line gave him time to reflect on things spiritual.

(Editor's Note: The author is a historian of the Korean War. Among his stories published in this newspaper is one about the 500 bill being a memorial to the Philippines' involvement in that war. His Korean War website is www.peftok.blogspot.com .)

World's BEST ISLAND 2012 is crowned to Boracay, Philippines

Boracay has been named as this year's world's best island getaway by an international travel magazine.

Discovery Shores in Boracay was also named best hotel spa in Asia by "Travel + Leisure" magazine's 2012 World's Best Awards.

The magazine's editor, Nilou Motamed, made the announcement Friday on the "Today" daily American morning television show that airs on NBC.

Boracay, which placed 4th in the same awards last year, garnered 93.10 points to take the top spot this year.

Travel + Leisure's top 10 island destinations in 2012, based on a survey of readers are:

  1. Boracay, Philippines - 93.10
  2. Bali - 90.41
  3. Galápagos - 89.55
  4. Maui - 89.53
  5. Great Barrier Reef Islands, Australia  - 89.28
  6. Santorini, Greece - 89.20
  7. Kauai - 89.09
  8. Big Island, Hawaii  - 87.95
  9. Sicily, Italy - 87.87
  10. Vancouver Island, British Columbia - 87.48

"The world's best island, I confess to never having heard of it in the Philippines," "Today" host Willie Geist said.

"This is important, Boracay. It beat out Bali, number 2. It's one of those islands you should know about if you're interested in culture and value," Motamed told Geist.

"Our readers love this, it's not been on anyone's radar. It's in the Philippines. This is the place that you're gonna get not only hotels that you can stay for $50 a night but incredible hotels like the Shangri-la," she added.

Boracay's Discovery Shores also secured top honors for being the best hotel spa in Asia this year, the magazine said.

Aside from Boracay and Discovery Suites, the winners in other categories in 2012 are:

  • Bangkok - World's best city
  • Singita Grumeti Reserves - World's best hotel
  • Crystal Cruises - World's best large ship cruise line
  • Seabourn - World's best small ship cruise line
  • Viking River Cruises - World's best river cruise line
  • Singapore Airlines - World's best international airline
  • Virgin America - World's best domestic airline
  • Micato Safaris - World's best safari outfitter
  • Row Adventures - World's best tour operator
  • Hertz - World's best car rental agency
  • Red Mountain Resort - World's best destination spa
  • Capella Pedregal  - World's best hotel spa.

"Even after 17 years, the opportunity to see what travel experiences resonate with our readers still intrigues and delights me. While some passions change over time, the allure of the exotic and the new remains as strong as ever, as does the attraction to trips that provide distinctive and long-lasting memories," "Travel + Leisure" editor-in-chief Nancy Novogrod said in a press statement.

The full results of the 17th annual "Travel + Leisure" World's Best Awards survey revealing readers' favorite hotels, cities, islands, cruise lines, airlines, car rental agencies, spas, safari outfitters, and tour operators are listed on www.TravelandLeisure.com  and will be featured in the magazine's August digital editions and its August print issue that will hit US newsstands on July 20 2012.

The 2012 World's Best Awards winners will be honored at a ceremony on July 19, 2012 that will be hosted by Novogrod and the magazine's vice-president and publisher, Jean-Paul Kyrillos, at the newly opened Conrad New York.

ABS-CBN  

Morgan Stanley Sees Philippine Stocks Rallying - Best Economy Indicator

Philippine (PASHR) stocks, Asia's most expensive equities, may rise a further 25 percent this year as the economy grows, according to Jonathan Garner, Morgan Stanley's chief Asia and emerging-market strategist.

The Philippine Stock Exchange Index (PCOMP) rallied 23 percent in 2012 to a record yesterday, the world's fifth-best performer, amid government plans to boost spending while narrowing the budget deficit. The gauge's valuation of 16.4 times estimated earnings is the highest of 15 Asian Pacific markets tracked by Bloomberg and is approaching the biggest premium to the MSCI Emerging Markets Index since November 2006.

Standard & Poor's increased the country's debt rating on July 4 to BB+, the highest level since 2003 and one step below investment grade. The endorsement helps President Benigno Aquino as he boosts spending to a record this year and seeks $16 billion of investment in roads, bridges and airports. JG Summit Holdings Inc. (JGS) and Ayala Corp. have led stock advances this year on speculation the government's investment plans will boost consumer demand.

"The Philippines has a strong economic story and considerable external balance strength," Hong Kong-based Garner said in an e-mail yesterday. "We expect Philippine equities to continue to perform well."

Aquino plans to narrow the budget shortfall to 2 percent of gross domestic product by 2013 from a target of 2.6 percent this year. The government has stepped up efforts to catch tax evaders and smugglers, and has drawn up bills aimed at increasing revenue to narrow the fiscal deficit.

Growth Forecast

The $200 billion economy grew 6.4 percent in the first quarter, the fastest pace since 2010. Aquino is aiming for an expansion of as much as 8 percent annually to cut poverty. That's more than double the International Monetary Fund's 3.5 percent growth forecast for the global economy this year.

Shares of JG Summit, owner of the nation's biggest budget airline, climbed 38 percent this year, and Ayala (AC), owner of the largest homebuilder, jumped 54 percent. JG trades at 16.5 times estimated profit, while Ayala is valued at a multiple of 23, data compiled by Bloomberg show.

"The Philippines has a lot of things going for it: a reform-minded government, good GDP growth," Herald Van Der Linde, Hong Kong-based head of Asia Pacific equity strategy at HSBC Holdings Plc, said in e-mailed comments yesterday. "This allows the market to remain at elevated valuation levels for some time. But it is also Asia's most expensive market. The rally might cool."

HSBC has an underweight rating on Philippine equities with a year-end target for the benchmark index of 5,350. The gauge fell 0.1 percent to 5,362.68 at today's close after rising to a record yesterday (July 5, 2012).

Morgan Stanley London

Investment Grade

S&P's move to raise the Southeast Asian nation's debt rating to BB+ follows that of Moody's Investors Service which upgraded the nation's rating outlook in May to positive, citing improving debt levels. Moody's still ranks the $200 billion economy at the second-highest junk level. Fitch Ratings raised its assessment to one step below investment grade last year.

Standard Chartered Plc recommended in a report last month that clients buy the peso via the non-deliverable forwards market, saying it expects the Philippines to achieve an investment-grade rating by 2014.

The peso is up about 5 percent against the dollar in 2012, the best performer in a basket of 11 major Asian currencies tracked by Bloomberg, as foreign investors purchased $1.78 billion of Philippine shares this year.

"There are funds who invest taking into account a country's credit rating status," said Allan Yu, who helps manage about $9.39 billion at Manila-based Metropolitan Bank & Trust Co. "Some funds move ahead before a market reaches investment grade status, which could happen for the country next year, so we could see more foreign inflows."

Bond Sale

A higher investment grade reduces the cost of borrowing for the country and its companies, Yu said.

The Philippines plans to boost global bond sales to $3 billion in 2013 from this year's $2.25 billion target to fund spending on roads, airports and social services, Finance Undersecretary Rosalia de Leon said in an interview yesterday.

The Philippine index's estimated price-to-earnings ratio of 16.4 times is 19 percent higher than the average since Bloomberg began tracking the data in 2006. The Shanghai Composite Index (SHCOMP), the largest emerging-market gauge by value, trades at 9.6 times earnings, about half its historical average, the data show. The MSCI Emerging Markets Index is valued at 10.2 times.

Morgan Stanley has the equivalent of a hold recommendation on Philippine stocks because valuations are above long-term average levels at a time when some other markets trade at discounts.

"We are equal weight, which, given there is 25 percent upside to our year-end target price of 1,210 for the MSCI EM index, means we should see something similar for the Philippines," said Morgan Stanley's Garner.

Bloomberg

Malacañang Palace welcomes Philippine's investment-grade outlook from Barclays


July 7, 2012: Malacañang Palace on Saturday welcomed investment house Barclays' outlook that the Philippines may achieve investment-grade level in the next 12 to 18 months due to the continued improvement in the economy's fundamentals.

Presidential spokesman Edwin Lacierda said this may complement the government's efforts to set a level playing field to attract more investments, so there will be more funds for social programs.

"The credit ratings will be very positive for us because... it will be an opportunity for foreign investors to look into our country and see the consistency of our policies," he said on government-run dzRB radio.

"Maraming salamat naman (We are very thankful)... we're hoping this will happen," he added.

He said that from the start, President Benigno Aquino III and his economic team and the Bangko Sentral ng Pilipinas already laid down the premises for the economy.

Despite the difficulties of global economy, he said the administration made sure the domestic economy is doing well.

Lacierda also noted the development comes as the government expects greater agriculture production and infrastructure spending in the second quarter of 2012.

On the other hand, Lacierda sought to downplay the role of the Arroyo administration in the upgrade, saying that while there were two upgrades under former President Gloria Arroyo's watch, there are two aspects to foreign credit ratings – fiscal policy and governance.

He said credit agencies recognized the Aquino administration not only for its fiscal policies but for its governance as well.

"They see this president (Aquino) is free, untainted by corruption. They see the consistency of rules being laid out. Most especially transparency ng pamahalaan nakita ang ginagawa, these are consistent with 'tuwid na daan',"  he said.

On Friday, state-run Philippines News Agency cited a research note by Barclays Research hinting at investment grade level for the Philippines in the next 12 to 18 months.

It said Barclays Research also projects an outlook upgrade from Fitch Ratings to "positive" from "stable" in the next three to six months following this week's upgrade by Standard and Poor's (S&P) of the country's rating to BB+ from BB-, which the research note said is "already expected."

But the research note also cautioned that "it may take a little longer for it (the Philippines) to receive such a rating from two out of the three main agencies."

"We remain constructive on the medium-term outlook for the Philippines given its improving political stability, progress in public private partnerships, increasing FDI interest and structural improvements, such as passage of 'sin' taxes by congress and an anti-money laundering bill," the PNA quoted the research note as saying.

GMA News

Philippine Air force eyeing new bases in the South

Basa Airbase

The Philippine Air Force (PAF) is eyeing the establishment of additional bases within the next two to three years as focus will be shifted to territorial defense, an official said

"A strategic recasting" towards territorial defense will require "the drawing of new basing and relocation plans… the remapping of stations," said Lt. Gen. Lauro Catalino G. Dela Cruz, PAF commanding general, during the anniversary celebration of the service command.

Col. Miguel Ernesto G. Okol, PAF spokesperson, said on the sidelines of the PAF's 65th anniversary, that Lumbia Airport in Cagayan de Oro City has been "initially identified" as a potential site for a new base.

The PAF currently has eight air bases, namely, Clark, Basa, Col. Jesus Villamor, Danilo Atienza, Fernando, and Antonio Bautista in Luzon; Mactan Benito Ebuen in Visayas; and Edwin Andrews in Mindanao.

The new bases will "meet the challenges of a rapidly changing threat environment," said Mr. Dela Cruz.

Meanwhile, Mr. Okol said air force personnel will be relocated from the Danilo Atienza Air Base in Cavite to make way for civil aviation.

The Manila International Airport Authority has previously proposed to move the entire general aviation section to other sites, including the former US Naval Station in Sangley Point, in Cavite province. The transfer is aimed at decongesting the Ninoy Aquino International Airport, which shares a runway with the air force main headquarters in Villamor Air Base, Pasay City.

As this developed, the PAF anniversary celebration saw the revival of the fly-by -- a parade, and acrobatics presentation of around 40 air assets -- which was last held 15 years ago.

"We are reliving this golden tradition of the PAF… as we are the air force, we should be flying," Mr. Okol said in a separate statement.

"This also signals that we are regaining our strength and will soon be a potent force in our defense and security operations," he added.

Once a leading force in the region, the country's air unit had been struggling with an ageing fleet.

But the administration has been consistent in "acquiring new and potent replacements for our old and unreliable air assets," said Defense Secretary Voltaire T. Gazmin in his remarks during the celebrations.

"We are now very determined in our intention to modernize," he added.

The department has targeted to approve 138 modernization projects by the end of July, including three radars systems, 21 utility helicopters, 10 attack helicopters, four additional search-and-rescue helicopters, two long-range patrol aircraft, a special mission aircraft, three medium-lift aircraft and 12 lead-in fighters. These are expected to boost the air power in the next two years.

"We need to have potent and reliable air platforms for our air skippers and crew to operate and fly," Mr. Gazmin said.

The government has been building up its defense posture in light of territorial disputes in the West Philippines Sea, a resource-rich area claimed in part or wholly by the Philippines, Vietnam, Brunei, Malaysia and Taiwan.

The area also groups the Scarborough Shoal west of Luzon, a small reef that is within the country's exclusive economic zone but is also contested by China.

Businessworld Online

Philippine Air Force will acquire new warplanes by 2014

Philippine Air Force OV-10 attack aircraft prepares for take off during the 65th founding anniversary of the Philippine Air Force at Fernando Air Base in Lipa City, Batangas on Friday July 6, 2012

The Philippines, which is now embroiled in a territorial dispute with China, is set to acquire new warplanes in two years to upgrade its poorly-equipped air force, the defense minister said Friday.

Attack aircraft, lead-in fighter-trainers, attack helicopters and light and medium transport aircraft were all expected to be delivered within two years, Defense Secretary Voltaire Gazmin said.

Speaking at the 65th anniversary of the Philippine Air Force, Gazmin said "these aircraft shall once and for all, erase the ironic and naughty commentary that our present airforce is all air, devoid of force."

The defense department also plans to sign contracts by July 31 to implement 138 military modernization projects over the next five years, he added, without saying how much the contracts would cost or who would supply such equipment.

The Philippines has one of the most poorly-equipped militaries in the region, having retired the last of its fighter jets in 2005.

The weakness of the military was highlighted when the Philippines got into a standoff with China in April over the Scarborough Shoal, an outcropping of rocks in the West Philippine Sea (South China Sea) that both countries claim as their territory.

China claims nearly all of the West Philippine Sea, even waters close to the coasts of neighboring countries. The Philippines says the shoal is well within its 200-nautical-mile exclusive economic zone.

The two countries also have wider territorial disputes over parts of the Spratly islands in the West Philippine Sea .

Gazmin did not mention the territorial dispute but stressed that air force personnel were all over the archipelago, including the West Philippine Sea.

The Philippines has looked to its main defense ally, the United States, to help it upgrade its armed forces but President Benigno Aquino said in an interview in May, that it was looking for aircraft from outside the US as well.

Thursday, July 5, 2012

Forgetting the tons of Gold, Queen Sofia of Spain ended her visit to the Philippines

WHERE'S HER CROWN? A little girl asks as Queen Sofia puts her arms around two children during her visit to Zamboanga City. JULIE S. ALIPALA/INQUIRER MINDANAO

330 years Spain's unproductive control to the Philippines

The Philippines was colonized by Spain for 333 years.  Folks, that's a long long time, correct?  And that's why anyone who speaks Spanish or Portuguese gets confused why the dialect of Filipinos they can seem to understand but cannot have the hang of it– Why Philippine Nationals speaks good English than Spanish?

So, where's the English?  In 1898, Spain lost to the American colonizers and stayed to be under the United States of America for nearly 50 years.   That's like covering one or two generation's right?

While the Spaniards controlled the locals with 'divide & rule' dictum, the Americans wooed the locals with corned beef, chocolates, bubble gums, jeans and opportunities.  That fits well to the peace loving Filipinos.  That's why it was so easy for American teachers to incorporate themselves to the smart locals. 

The American governors were bent to make the Philippines their small paradise in the pacific hence those American soldiers who doesn't want to go back home, stayed on and opened various business establishments.  Country clubs were developed, business chambers were created and the style of governance was patterned after that of the United States.

The school's language of instruction was in English which the locals found easy enough to follow vs the Spanish language in more than three centuries.  Even Japan, in the few years they had the Philippines and want take it from the Americans during the World War II tried to instill to the locals the study of Nippon-go, but failed.

For 333 years Spain controlled the Philippines and shipped tons of gold of the country to the Mainland Spain. Poor infrastructure, low education, corruption, killings, slavery and other degrading acts that makes the Philippines rebellious and hates the Spain and refused to remember Spain to forget the bad nightmare in the past - but wound heals in the right time.

It could be a bit shameful for Spain who controlled the country for 333 years and been forgotten. For the sake of new business opportunity for Spain and the Philippines with the backup of culture similarities as inputed by  Spain to the Philippines for 333 years, the Spain spend a little to win the heart of the Filipinos and to gain more for possible by reciprocation with the Spain made Armaments which will cost Billions of Dollars. 

In 2011, the Spain Government Officials Delegation already visited the Philippines and offered their junks and second hand fully depreciated armed assets as AID to the country and the Philippines must pay only the salvage value of the Assets like the Class cutter of USA which the Philippines paid $10 Million US Dollars. 

Spain keeps lobbying to the Philippine Government to be their armaments buyer in line with Italy, Poland and Korea.

The recent signed contracts for armaments upgrade of the Philippines which budget reached up to $1.5 billion dollars did not include the armaments which recently introduced and  made by Spain.

The Philippines is now a shining country and the most promising country in the world with abundant of manpower pool and intelligent people, gold and mineral deposits, oil and natural gas, world famous beaches and too many to mention.

The Philippines is now also famous for abundant of riches and awash  with cash which on the process of modernizing the Weaponry of the Armed forces to deter invading neighbors which ready to spend Billions of Dollars, so many business to be done in the Philippines.

What is the 30 Million Euros aid of Spain to the Philippines for the tons of gold they shipped to the Spain during their 333 year rule? Spain is still even in heavy indebtedness to the Philippines for their abuses and slaveries to the Filipinos during their rule which they never paid even a dime.

Queen of Spain goodbye to the Philippines

Queen Sofia of Spain, who wraps up Friday (July 6, 2012) her five-day visit, may have inadvertently glossed over the role of the Siege of Baler in the restoration of bilateral relations between Manila and Madrid.

Unbeknownst to the queen, the warm and enthusiastic welcome accorded to her by the country since her arrival on Monday stemmed from a singular act passed by Congress in 2003—the Filipino-Spanish Friendship Act authored by Senator Edgardo J. Angara.

Neither her speech at Tuesday's state dinner nor her itinerary paid homage to the singular event that is officially celebrated in Spain for exemplifying the universal traits of valor, magnanimity and dignity even during war times between Spanish and Filipino troops called "Katipuneros."

"In her speech, she did not mention Baler's contributions to the return of normal relations between Spain and the Philippines, which was practically zero but is now growing," said Angara, who attended the state banquet held at the Rizal Ballroom in Malacañang.

Friendship with the old enemy

Republic Act No. 9187 recognizes June 30 of every year as the Philippine-Spanish Friendship Day "to mark the act of benevolence in 1899 when President Emilio Aguinaldo issued a decree stating that Spanish soldiers who survived the Siege of Baler be treated not as prisoners, but as amigos," said Angara.

"It showed the generosity of Filipinos in victory, and on the part of the Spaniards, the valor and loyalty to their flag and king," Angara said. "It was the singular act that changed the near-zero relations between Manila and Madrid … from bad to good."

At the close of the Philippine revolutionary war against Spain in 1898, 54 Spaniards—49 soldiers, three officers, one medical officer and a parish priest—barricaded themselves inside the Church of San Luis de Tolosa in Baler, Aurora.

They holed up in the church, refusing to surrender until June 2, 1899, or after 337 days.

During the yearlong siege, Filipino troops allowed carabaos (water buffalos) to stray into the church grounds, providing food for the famished Spanish soldiers.

When the dust settled, 35 managed to survive, including the six who deserted. Five died from gunshot wounds, while 14 died from beriberi and dysentery.

When the surviving Spaniards emerged from the church, they received cheers of "Amigos, amigos!" from the Katipuneros and natives of Baler.

Forgiving Enemies

President Aguinaldo's declaration on June 30, 1899, stating that the survivors of the Siege of Baler shall be treated as friends, not as prisoners, guaranteed their safe travel back home.

"The siege embodies courage, honor, compassion and charity, the same spirit that fuels the Philippine-Spanish Friendship Day," Angara said, recalling that the Spanish movie "Los Ultimos de Filipinas" was based on the siege.

The movie raised the morale of the Spanish people during the time of dictator Francisco Franco, when war-torn Spain became impoverished in the aftermath of World War II.

The movie also popularized the classic song "Yo te dire," comparable to "Dahil sa Iyo (Because of You)."

RA 9187 resulted in increased Spanish official development assistance (ODA) to the Philippines, investments and tourist arrivals. Spain's ODA to the Philippines amounted to 28.9 million euros ($36.58 million) in 2011.

For the latest visit of Queen Sofia—her fifth trip to the Philippines since 1995—she toured Manila, Albay province and Zamboanga City, where she inspected schools, hospitals and museums that have received funding from Spain.

'Where's her crown?'

In Zamboanga City Thursday (July 5, 2012), the queen visited the Kalinaw Urban Poor Community in Sinunuc village. Wearing a printed blouse and light brown slacks, she casually walked to the multipurpose hall where she was met by two toddlers who offered her a bouquet of flowers.

"Is that the queen?" Jenny Azurin, 8, asked her mother, Geraldine, 39, who nodded. "Where's her crown? Why isn't she wearing a gown?" the child asked after the queen smiled at her and briefly touched her face.

Clara Pardo, who handles the Asia-based projects of the Spanish aid group Manos Unidas, said the visitor saw projects her foundation had helped build.

"She likes to see where the money went and was spent and she is very committed to development projects," Pardo told the Inquirer.

"Queen Sofia also wants to meet and interact with children and women because she is always very worried about the situation of the children in the world," she said.

Fr. Angel Calvo, a Claretian missionary who heads Zamboanga-Basilan Integrated Development Alliance Inc., said Spain had been helping Zabida for 13 years now and had so far poured in about 5 million euros to the group's education, livelihood and shelter projects.

Calvo said Queen Sofia was to visit urban poor communities but security precautions cut short her itinerary. A scheduled visit to an orphanage, Akay Kalinga, was canceled.

Wednesday, July 4, 2012

Malaysia Shocked Philippines Pledge $1 Billion Dollars to IMF to help European Crisis

In the opinion posted by the NewStraitsTimes a Malaysian online news website, it really surprised that the Philippines is now afford to pledge $1 Billion USD Dollar to the IMF to help the European crisis.

AT the recent G20 Leaders' Summit in Los Cabos, Mexico, 12 countries committed US$456 billion (RM1.4 trillion) funds to beef up the International Monetary Fund's facility to address the financial crises, notably the sovereign debt and banking debacles in Europe.

Three of the 12 contributors were ASEAN member countries at US$1 billion each, namely Malaysia, Thailand and the Philippines. Philippines pledge right then and ahead of Malaysia and Thailand.

Somewhat challenging to Malaysia as the Philippines without any doubts pledged for $1 Billion dollars and later 2 countries followed namely; Malaysia and Thailand

What? The Philippines? 

(It is like saying oh? this beggar could afford now to pledge that much $1 Billies USD Dollars? how comes?)

"It is our obligation to assist those nations who require funding from the IMF. This would also help in stabilising the crisis that is going on in Europe," a spokesman of Philippine President Benigno S. Aquino III affirmed.

These developments surprised many, as the country used to be a net borrower as far as its membership was concerned. In 2006, however, the country prepaid all its outstanding debts with the IMF, given its much-improved external liquidity position. It then achieved its new status by participating in the Financial Transaction Plan as a creditor country in 2010.

The country can afford to lend as it has some US$76 billion in gross international reserves (GIR) at present, thanks in no small measure to the Aquino administration's no-nonsense good governance thrust that attracted foreign investors back to the Philippines.

With strong gross domestic product (GDP) growth sustained through the years -- and a surprising 6.4 per cent growth for the first three months of the year -- global financial institutions have certainly noticed. Morgan Stanley recently listed the Philippines as one of the "breakout nations", and Goldman Sachs' proclaimed it among the "Next 11" countries. In a May 3 article aptly titled "The Philippines astounds the skeptics", Bloomberg Businessweek cited the great strides that resulted from governance reforms and infrastructure developments. For those who can wait it out, there is the HSBC's forecast that the Philippines will be the 16th biggest economy in 2050. But that's getting too far ahead of our story.

In my and others' views, a realistic barometer of the vigour of the economy is that there are less young Filipinos looking for jobs overseas because of available good ones at home, notably in the business process outsourcing (BPO) and related sectors. These companies, which handle customer support, technical problems and other tasks for overseas clients, now provide employment to some 638,000 people and took in US$11 billion last year, about five per cent of the country's GDP. This makes the Philippine BPO voice-related services, in particular, the biggest in the world, even ahead of India.

Our region is looking forward to the establishment of an Asean Community by 2015, with deeper integration of national economies at its core. It would do well to have more business companies within the region collaborating for mutual benefit.

There has been a substantial Malaysian business presence in the Philippines since the 90s, with the likes of Maybank, Berjaya and other companies.

In fact, there has been a surge recently in two-way investments. AlloyMTD Group, which rehabilitated the South Luzon Expressway, is constructing nine mini-hydroelectric dams in northern Luzon and a government offices complex in Laguna province. CIMB Bank bought into the Philippine Bank of Commerce, with investments reaching some RM1 billion.  After profitably operating the Resorts World Manila hotel-casino across Manila's international airport, Genting is investing in a second casino complex by the famed Manila Bay to be completed in 2016, in the new "Entertainment City", which aims to rival Macau.

Investment flows being by nature two-way, Petron Corporation recently completed its purchase of the retail services business of Esso Malaysia Bhd, with investments worth at least US$610 million.

Business opportunities in the two countries were the focus of an investment forum in Kuala Lumpur last May, which was attended by some 300 businessmen and women. Present were Philippine Vice-President Jejomar Binay, who led a delegation of 24 leading Filipino businessmen and officials from the Philippine Chamber of Commerce and Industry.

Right after meeting Binay, Prime Minister Datuk Seri Najib Razak tweeted: "Fruitful discussions that will hopefully strengthen socio-economic ties." This is a sign that Philippines-Malaysia relations have nowhere to go but up.

Sectors for productive collaboration were highlighted by both the Philippine Department of Trade and Industry and the Malaysian External Trade Development Corporation (Matrade), notably tourism infrastructure, agro-business, mass housing, energy/electricity, logistics, Islamic finance, halal food and investments opportunities in the Autonomous Region of Muslim Mindanao.

What impressed those at the forum were the two messages delivered by Malaysian investors already doing business in the Philippines.

First, the Philippine has a large consumer market of 94 million people, the largest in Southeast Asia after Indonesia, which cannot be taken for granted.

"The Philippine has all the ingredients for success. We want to invest in a country with the right population so that there is a big consumer base. The Philippines is a big customer base," said Berjaya Corporation founder Tan Sri Vincent Tan.

Second, despite its occasional noisy internal politics, business has remained profitable through the years, AlloyMTD Group CEO and Malaysia-Philippine Business Council pro-tempore chair Datuk Azmil Khalil stated. (Well, it isn't the Philippines if the politics is any less exciting). It also helps to consider the other factors that make the country a preferred investment destination with the following points as the Philippines in the NOW:

  1. THE best global BPO destination;
  2. A TOP global electronics assembly hub;
  3. THE world's fourth largest shipbuilder;
  4. THE world's next mining power;
  5. ASIA'S trusted logistics support center;
  6. ABUNDANT managerial talents,
  7. HIGHLY skilled, reliable, English-speaking workforce
  8. LIBERALIZED investment and incentives policies, and,
  9. IT is home to Boracay, Palawan, and some of the best beaches and diving spots in the world, for those serious at both work and play.

The Philippines has its fiscal house in order and is now a lender nation. It is vigorously reaching out to its neighbors and strengthening relations with them. Truly, exciting times are ahead; it added.

S&P Raises Philippines’ Credit Rating “BB+” to 9-Year High

July 5, 2012: The Philippines' debt rating was raised to the highest level since 2003 by Standard & Poor's, taking President Benigno Aquino nearer his goal of attaining investment grade.

The nation's long-term foreign currency-denominated debt was raised one level to BB+ from BB, S&P said in a statement Wednesday (July 4, 2012). That's one step below investment grade and on a par with neighboring Indonesia. The outlook on the rating is stable.

"The foreign currency rating upgrade reflects our assessment of gradually easing fiscal vulnerability," Agost Benard, a Singapore-based analyst at Standard & Poor's, said in the statement. "The rating action also reflects the country's strengthening external position, with remittances and an expanding service export sector continuing to drive current- account surpluses."

Emerging nations from Brazil to Indonesia have won credit- rating upgrades in the past year as governments contained budget deficits. A higher assessment for the Philippines will help Aquino as he moves to boost spending to a record this year and seeks $16 billion of investment in roads, bridges and airports to shield the economy from Europe's sovereign-debt crisis.

The Philippine peso (₱) is up 4.8 percent against the dollar in 2012, the best performer in a basket of 11 major Asian currencies tracked by Bloomberg. The Philippine Stock Exchange Index climbed to a record this week. The benchmark seven-year bond yield fell to the lowest in at least two months yesterday.

'Very Positive'

S&P's recognition for the Philippines' strong external position, growth prospects and improving fiscal sector adds fundamental support to the market, Bangko Sentral ng Pilipinas Governor Amando Tetangco said yesterday after the ratings action.

Moody's Investors Service boosted its outlook on the Philippines to positive in May 2012, citing improving debt levels. Fitch Ratings raised the country's debt to one step below investment grade in June 2011.

S&P's move is "very positive because it promotes the country's macroeconomic and fiscal context," said Fitz Aclan, who helps manage 850 billion pesos ($20.4 billion) at Manila- based BDO Unibank Inc. "There could be some upward movement for our sovereign bonds, even our local bonds. This will also be positive for equities."

Aquino plans to narrow the budget shortfall to 2 percent of gross domestic product by 2013 from a target of 2.6 percent this year. The government has stepped up efforts to catch tax evaders and smugglers, and has drawn up bills aimed at increasing revenue to narrow the fiscal deficit.

"We expect further rating improvements will likely be driven by either our appraisal of improving political and institutional factors or by evidence of a sustainable structural revenue improvement," S&P said. "Conversely, we may lower the ratings if the government's commitment to fiscal consolidation weakens, resulting in rising debt, or if the external liquidity position deteriorates significantly."

The $200 billion economy grew 6.4 percent in the first quarter, the fastest pace since 2010. Aquino is aiming for an expansion of as much as 8 percent annually to cut poverty.

LEARN FOREX TRADING AND GET RICH

Investment Recommendation: Bitcoin Investments

Live trading with Bitcoin through ETORO Trading platform would allow you to grow your $100 to $1,000 Dollars or more in just a day. Just learn how to trade and enjoy the windfall of profits. Take note, Bitcoin is more expensive than Gold now.


Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com