OFW Filipino Heroes

Monday, September 24, 2012

Japan-China Island War Begins! China Deploy drone to Korea, rope-off and blocked Filipino entry to Scarborough Shoal –Philippines (Updated: As of Sept. 25, 2012)

A Japanese patrol boat, left bottom, fires water cannon during a clash with Taiwanese fishing boats near disputed islands in the East China Sea. Picture: AP Source: AP 

COASTGUARD vessels from Japan and Republic of China (ROC) Taiwan dueled with water cannon today after dozens of Taiwanese boats escorted by patrol ships sailed into waters around Tokyo-controlled islands.

 

Japanese coastguard ships sprayed water at the fishing vessels, footage on national broadcaster NHK showed, with the Taiwanese patrol boats retaliating by directing their own high-pressure hoses at the Japanese ships.

 

The large-scale breach of what Japan considers sovereign territory - one of the biggest since WWII - is the latest escalation in a row over ownership of the islands that pits Tokyo against Beijing and Taipei.

 

The intrusion complicates the already volatile territorial dispute with China. Taiwan has said that officers aboard some of the patrol ships sent to the area are fully-armed elite coastguard personnel.

 

Japanese and Taiwanese coast guard patrol boats shadow each other during an ocean standoff over disputed islands in the East China Sea. Picture: AFP Source: AFP


Japan's Chief Cabinet Secretary Osamu Fujimura told a press conference that by 9am local time, eight Taiwanese coastguard and 40 fishing boats were in Japanese waters.

 

"We have made contact with the Taiwan authorities, and told them that they cannot enter our territorial waters," he said.

 

A spokesman for Taiwan's coastguard confirmed that nearly 60 boats got close to the islands, some coming within three nautical miles - well inside the 12-nautical-mile territorial exclusion zone.

 

Japan's coastguard said all vessels left territorial waters a few hours later.

 

The boats are part of a fleet that left Taiwan yesterday, vowing to stake their claim to islands where they say they have ancestral fishing rights.

 

More than 60 fishing boats flying Taiwan flags yesterday left Suao, a port in northeast Taiwan, with 300 fishermen and 60 reporters on board.

 

Taiwan's coastguard sent at least 10 patrol boats alongside the vessels.

 

"We'll do everything to protect our fishermen. We do not rule out using force to fight back if Japan were to do so," Wang Chin-wang, head of the Coast Guard Administration, said in parliament.

 

Japan administers the uninhabited, but strategically well-positioned archipelago under the name Senkaku. Beijing says it has owned the islands for centuries and calls them Diaoyu.

 

Taiwan also claims the islands, which lie around 200 kilometres from its coast.

 

Ownership of the islands has become an important tenet of identity for all three claimants; the possible presence of energy reserves in the nearby seabed adds to the mix.

 

The last large intrusion into Japanese waters was in 1996, according to a spokesman at the Tokyo headquarters of the Japan Coast Guard.

 

He said at that time 41 ships carrying activists from Hong Kong and Taiwan entered waters around the islands with the intention of asserting sovereignty.

 

Chen Chun-sheng, the head of the Suao Fishermen Association, said at the weekend: "Diaoyutai has been our traditional fishing ground for centuries. We pledge to use our lives to protect it or we'd disgrace our ancestors."

 

Fujimura said Japan was handling today's situation as delicately as it could.

 

"All in all, we must continue to take utmost caution for policing of the areas surrounding the Senkaku islands. Agencies concerned must continue to closely coordinate their actions," he said.

 

"Japan's position is that, in light of good Japan-Taiwan relations, we must solve the issue peacefully. We wish to respond calmly."

 

Relations between Japan and China, meanwhile, have scraped long-unseen lows in recent weeks following Tokyo's nationalization of three of the islands, which it bought from a private Japanese landowner.

 

Several days of sometimes violent protests erupted in cities across China, where Japanese businesses were targeted by rioters.

 

Japan's coastguard said yesterday that of two of China's maritime surveillance ships had spent seven hours in territorial waters around Uotsurijima, the largest island in the chain.

 

Two fisheries patrol boats briefly also entered the 12-nautical-mile zone around the chain, the coastguard said.

 

Four marine surveillance ships and two fisheries patrol boats were in contiguous waters as of today, according to the coastguard.

 

None of the Chinese ships sent to the area belongs to the military. Both types of vessel are government-owned and used to enforce Chinese law in domestic waters.

 

China to Deploy Drones to Monitor Ieo Island, Korea's Ieo-Do

 

China is claiming once again that the submerged rocks of Ieo Island are part of its own territory and included them among places to be monitored by aerial drones. The move came six months after Liu Xigui, the director of China's State Oceanic Administration, said Beijing would now regularly patrol Chinese waters using both ships and surveillance aircraft.


 

China's State Oceanic Administration held a ceremony demonstrating the drones in Jiangsu Province on Sunday and said it would bolster control over its waters by using them, the state-run Xinhua news agency reported Monday.

 

China also reiterated its claim to the Diaoyu or Senkaku Islands, which are administered by Japan, the Paracel Islands, Macclesfield Bank, and the Spratly Islands and Scarborough Shoal in the South China Sea.

 

Yu Qingsong, an official with the oceanic agency, said Beijing will set up a "comprehensive maritime control system" this year under a nine-year plan aimed at bolstering its maritime presence. China plans to build remote-controlled surveillance stations in coastal provinces by 2015 and expand drone patrols in Chinese waters.

 

Ieo Island is located in an area where the exclusive economic zones of Korea and China overlap but lies much closer to the Korean Peninsula, 149 km southwest of Korea's southernmost island of Mara.

 

The nearest Chinese island to Ieo Island is Tongdao off the coast of Jiangsu province, 245 km away. According to international practice, the mid-point of overlapping EEZs is chosen as a reference point, which means Ieo Island sits within Korea's zone. But China claims that the island falls under its jurisdiction since the length of its coastline and other factors would push its EEZ further east toward Korea.

 

China controlled Panatag Shoal of the Philippines guarding passage blocking Filipino entry to the Shoal

 

Panatag Shoal in the West Philippine Sea remains roped off, with three Chinese vessels guarding it to keep Filipino fishermen out, a Philippine Coast Guard (PCG) official said Wednesday.

 

The official, who requested anonymity because he was not authorized to speak on the matter, said the latest reconnaissance report showed that there were two Chinese maritime vessels and one fisheries ship at the shoal.

 

The rope that the Chinese strung across the mouth of the shoal's lagoon after a face-off between Chinese and Philippine vessels ended in mid-June to prevent Filipino fishermen from going there has not been removed, the official said.

 

The latest reconnaissance flight to Panatag Shoal was made "one to two weeks ago," he said.

 

"[The Chinese vessels] are still there, but there are no more [Chinese] fishermen," the official said.

 

Stormy weather

 

The Chinese fishermen must have moved to other fishing grounds because the weather around Panatag Shoal remained stormy, he said.

 

But the Chinese vessels are also discouraging Filipino fishermen from going into the shoal, the official said.

 

"We have a report that they were told to leave. But even before, that's what [the Chinese] were doing," the official said.

 

"[But] it's no longer [safe] to fish there. The weather is stormy so it's no longer practical to go there. Only a few fish there," he added.

 

The official said the government would file a diplomatic protest if the Chinese detained Filipino fishermen.

 

AFP, Australian News, Chuson Ilbo & Inquirer

More than 100 Filipino students snag awards in Australian science competition

Two weeks ago, a Filipino student got a perfect score in an Australian math contest.

 

And now, 134 Filipino students have won awards in Australia's Big Science Competition, an international contest organized by Australian Science Innovations (ASI), a Canberra-based non-profit organization providing extension programs for students and teachers.

 

Eighteen of the 134 Filipino awardees received High Distinction awards, with 64 garnering Distinction awards, and 52 receiving Credit awards.

 

According to ASI, only about 5 percent of participants receive High Distinction awards, with 10 to 15 percent receiving Distinction nods and 25 to 30 percent receive Credit awards.

 

More than 37,000 students from 541 schools from Australia, New Zealand, Singapore, Philippines and the United States took part in the competition.

 

Among the top 58 scorers of the competition is Grade 8 student Andrew Sy of Xavier School, who earlier this year also won a bronze medal at the Taiwan International Math Competition.

 

"We hope that students like Andrew continue to excel in science," said ASI chair Anne Semple.

 

Mathematics Trainers' Guild, Philippines (MTG) president Dr. Simon Chua said in a statement, "Andrew's achievement in the Big Science Competition only shows that he can thrive well even outside his comfort zone, which is mathematics."

 

The Big Science Competition was held on May 23 through a simultaneous one-hour multiple-choice test.

 

ASI's website said that the competition aims to "challenge students to think critically and solve scientific problems using everyday examples."

 

The test questions were based on the Australian curriculum for science, and are written by the Australian Council for Educational Research.

 

The Big Science Competition is open for students between seven to 12 years old, and is divided into three categories; Junior (7-8), Intermediate (9-10), and Senior (11-12).

 

The winners were notified via mail and phone call in September.

 

Of the 18 High Distinction awardees, six were from St. Jude Catholic School: Ava Celeste Lee, Vince Benedict Say, Adrian Reginald Sy, Marvin Kaiser Sy, Isabella Tan and Matthew-Ryan Tan.

 

Five were from St. Paul College, Pasig: Samantha Mari Agura, Nicole Regina Chiong, Rianna Patricia Cruz, Michelle Marie Ochoa and Natalia Varela - St. Paul College-Pasig.

 

Three were from Philippine Science High School: Allen Cedrick Domingo, Joan Lisebeth Mendoza and Lara Andrea Montales.

 

The following schools had one awardee each:

  • Xavier School (Andrew Sy),
  • Saint Stephen's High School (Nathaniel Joshua Balete),
  • Philippine Cultural College (Czarina Jill Mataragnon)
  • Zamboanga Chong Hua High School (Gene Go Jr.).

 

GMA News

2 foreign vessels with North Borneans intercepted in Palawan

 

Map of Sabah, North Borneo, the Old Sultanate of Sulu territory. Map credit by Google Map


The Maritime Special Boat Unit of the Philippine National Police in Palawan intercepted Monday morning two unregistered foreign vessels carrying 51 North Borneans (Malaysian) nationals.

 

The two foreign vessels were intercepted at 3:45 a.m. near the island of Buliluyan in Balabac, southern Palawan in a joint operation of the Philippine Navy and the US-funded Naval Boat Unit, Governor Abraham Kahlil told the Philippine Daily Inquirer, citing reports from the Naval Forces West.

 

The two boats, one of which had the identification ML Rancel indicating they were Malaysians, were carrying 21 females and eight males.  All the passengers had no sufficient travel documents, the Naval Forces West report said.

 

Naval Forces West Commander, Commander Rostum Peña, in a local radio interview Monday, said the Malaysian vessels came from the city of Kudat in Sabah, North Borneo, a territory of the old Sultanate of Sulu which is now under control by the Malaysian and were bound for Buliluyan Island.

 

Pena said they were looking into reports that the passengers were bound for another destination outside Palawan.

Philippines will double Rubber Production for High Domestic Demand

 

The government is looking at doubling the country's 2010 rubber industry production and supply 50 percent of domestic natural rubber requirements by 2016, the Department of Trade and Industry said.

 

DTI Undersecretary Merly Cruz said this is part of the development plan for the industry, which recently got a big boost with the signing of a commitment by government, the financial institutions and the industry stakeholders at the 1st Philippine Rubber Investment and Market Encounter or PRIME 2012 in Clark, Pampanga last September 19.

 

"We envision the Philippines as one of the major natural rubber producing countries in Asia. We are targeting to double the Philippine rubber industry's production in 2010 and supply 50 percent of domestic natural rubber requirements by 2016," Cruz said during the PRIME 2012.

 

"To increase the domestic market share of natural rubber by 50 percent for the next 5 years, we intend to facilitate direct market access to tire and other natural rubber-based manufacturers in the country," Cruz added.

 

 "By 2016, we also aim to increase export of crumb rubber to China and other Asian markets by 25 percent by improving the quality and ensuring compliance to product standards. We also intend to increase production of crumb rubber by 10 percent annually through enhancing productivity through improved and new technology and upgrading dilapidated processing facilities in identified rubber producing regions and provinces," Cruz said.

 

 The DTI spearheaded the signing of the commitment to support the rubber industry's programs, projects and activities in the Philippine rubber industry road map.

 

Rubber Tree Product

Other signatories include the Department of Agriculture (DA), Department of Environment and Natural Resources (DENR), Department of Environment (DENR), Department of Agrarian Reform (DAR), Department of Science and Technology (DOST), Land Bank of the Philippines (LBP), Development Bank of the Philippines (DBP), Philippine Rubber Industries Association (PRIA), and representatives of rubber producers and processors committed

 

The statement of commitment recognizes the extent of market and business opportunities in the country's rubber industry. If fortified, these opportunities are expected to generate investments increase domestic and export sales, and create job opportunities that will contribute to inclusive growth and poverty alleviation.

 

The DTI together with other government agencies facilitate the strategic partnership to formulate and execute the Philippine rubber industry road map. This road map contains long-term goals and short-term strategies that will chart the direction of the rubber industry in the country.

 

PRIME 2012 is first industry event of the country to focus on providing access to market and investment opportunities in the rubber industry. It was attended by participants who are experts, policy makers, rubber producers, processors, traders and exporters, and manufacturers such as Yokohama Tire Philippines Inc. (YTPI) and members of the PRIA.

 

The PRIME 2012 intends to expand the domestic market for natural rubber, provide opportunities for the natural rubber producers and jobs for rubber farmers and industry workers.

 

The statement of commitment to support the rubber industry's development also acknowledges that the rubber industry's growth and sustainability depends on the quality of participation, the competitiveness and equitable sharing of benefits among stakeholders, and the support of national and local agencies, and development partners. It also expresses appreciation to the efforts of key rubber industry players and stakeholders in assessing the industry and recommending policy actions, programs and projects.

 

Further, this statement of commitment also supports the formation of the national rubber inter-agency team that will ensure the implementation and monitoring of the policies, programs, and projects in the rubber industry's road map and other development initiatives that may be identified in ensuing consultations with stakeholders. It also enjoins key players and stakeholders in the industry to strengthen their collaboration to surface concerns, address challenges and push the industry to forward.

 

"As part of our strategy, we also organized the rubber industry cluster team to institutionalize the convergence of the various stakeholders in the rubber industry, and develop the Philippine rubber industry," Cruz said.

 

"Likewise, we will also provide smallholders and cooperatives easier access to financing facilities and strengthen farmer organizations and cooperatives. We also aim to create an environment conducive to the development of the rubber industry by providing support facilities and infrastructures, policy, incentives, and other support services," Cruz added.

 

Manila Bulletin 

Philippine Economy to grow more Faster by Q3 – Global Investors Pick Philippines

Photo credit: Makati Business Club

Despite the series of typhoons that battered the Philippines in the third quarter, a senior government official said Monday that the country's economic growth could be higher in July to September.

 

National Economic and Development Authority (Neda) director general Arsenio Balisacan said economic growth in the third quarter may surpass the 3.2 percent registered in the same period last year.

 

The Philippine government is banking on the robust performance of the services sector, particularly companies in the local business process outsourcing industry (BPO) to buoy growth.

 

For the whole of 2012, Neda has earlier said that economic growth will likely settle at 6 percent on the back of the good performance of the services sector as well as the increase in public spending.

 

The increase in government spending and the resiliency of the services sector to global economic uncertainties enabled the Philippines to post an economic growth of 6.1 percent in January to June.

 

To achieve a 6-percent economic growth rate, Balisacan said gross domestic product for July to December should grow by at least 4 percent. Enditem

 

Global Investors Chosen the Philippines for their Investments

 

 The Philippines is one of the current "darlings" of global investors seeking better returns in emerging market economies and offers even bigger potential returns in the future, according to a ranking official of foreign investment firm Religare Capital Markets Ltd

 

The company, which specializes in equities investments in India and the Asean region, has decided to set up operations in the country within the year to better take advantage of the nascent Philippine economic boom.

 

"The Philippines is a market where people want to put money into," Religare's global head of equity capital markets John Sturmey said in an interview with the Inquirer. "The story here is certainly better than how it was a few years ago. Everyone is saying good things about the Philippines."

 

Religare, which has the bulk of its operations in India, Singapore and Hong Kong, is hoping to tap into the growing demand from the local corporate market for investment banking and equity deals.

 

The appetite of local corporations for more capital on both the equity and debt sides jibes with the massive amount of liquidity found offshore as central banks in the United States and Europe try to revive their economies with cheap funds, leaving investors awash with cash and few options for better returns in their home markets.

 

"Investors are looking for places where they can make money," Sturmey said, pointing out that Philippine companies used to have initial public offerings worth only $60 million. "Now we see $300-400 million deals," he said.

 

Religare's equities head also said that ongoing challenges being faced by China and Hong Kong—the twin darlings of foreign investors over the past decade—also bode well for alternative investment sites like the Philippines.

 

"Hong Kong and China are offering less opportunities," he said. "They're 'over-banked' since there are a lot more financial institutions chasing after fewer and fewer deals." This has made it less attractive for firms like Religare, which would have to contend with thinning profit margins.

 

At the same time, the China and Hong Kong markets have ongoing difficulties with corporate governance issues, which are encouraging investors to look to other emerging market nations.

 

Previous to its announcement that it would set up shop locally, Religare has already participated in the initial public offering of Puregold Price Club Inc. late last year as a junior partner of lead underwriter UBS (most of Religare's senior officials are former UBS bankers). More recently, Religare also initiated research coverage on local IT gaming firm Philweb Corp.

 

Sturmey said that Religare was particularly interested in the spate of "re-IPOs" being undertaken by local corporations as part of the Philippine Stock Exchange's thrust to increase the free float of listed companies.

 

"These re-IPOs present good opportunities to people like ourselves," he said. "The Philippines has great companies here but they're trading $10,000 a day [in total value turnover]."

 

The Religare official expressed confidence in the local market, saying the country was "in the best place it's been for decades, with a very strong macroeconomy and a solid political situation."

 

"It's always been overlooked for many years, even by the big banks," Sturmey said. "The bigger question is, whether it's sustainable."

Friday, September 21, 2012

Malaysia hopeless claim in Palawan Spratlys boost ties with China

 

North Borneo (Sabah) - Palawan (The Sultanate of Sulu Territory)

Malaysia's claim in the West Philippine islands in Spratlys are based on their recent control in the North Borneo as a state of Malaysia but still not recognized by the Sultanate of Sulu which is now under the Philippine Territory.

 

North Borneo was once a State of the Sultanate of Sulu but illegally turnover by the British company to Malaysia.

 

Sultanate State of Sulu is still hoping to regain its control over the  North Borneo to be part of the State of the Philippines when the Charter Change will happen.

 

Kuala lumpur government's claim in some islands of Spratlys are weak and might only fall back to the Philippines if the Sultanate of Sulu will regain its control over the North Borneo.

 

Malaysia Hopeless over Spratlys Boost ties to China

 

Malaysia, China boost ties, overlapping claims in West Philippine Sea not a factor

 

Malaysia and China continue to strengthen the existing bilateral ties without letting the overlapping claims in the Spratlys Island hamper the efforts.

 

The bilateral ties between Malaysia and China were taken to greater heights during the half-hour meeting between Deputy Prime Minister Tan Sri Muhyiddin Yassin and Chinese Vice-President Xi Jinping, who had shown a very keen interest in Malaysia.

 

Muhyiddin said Xi probably could not forget the facts that Malaysia was the first among Asean member countries to establish diplomatic ties with China in 1974, besides being the first country to invite the republic to join Asean+1 and to host the Asean-China Summit.

 

"He (Xi) really appreciates the supports given by Malaysia," he told the Malaysian press covering his visit to China here today.

 

On the overlapping claims in the South China Sea, Muhyiddin said he had made it clear to Xi that the issues should not affect the long existing economic ties between Malaysia and China.

 

"Although the issues have yet be resolved, all trades and investments should go on and remain unaffected," he said.

 

The deputy prime minister said Malaysia believed that the overlapping claims should be resolved peacefully through dialogues and negotiations between the countries involved, without involving military powers and intimidation, and that it should also be based on international law and not history.

 

He said the implementation of the South China Sea Code of Conduct (CoC) and the ongoing efforts to ensure its success were essential to resolve the issues.

 

"These issues shouldn't affect the existing ties between China and other countries too," he said.

 

For the record, several countries, namely Malaysia, Philippine, Brunei, Vietnam, China and Taiwan, have made overlapping claims over waters and islands in the South China Sea.

 

The meeting also discussed the development of Malaysia-China Kuantan Industrial Park and Qinzhou Industrial Park which would symbolise the strong ties between the two countries.

 

Muhyiddin said Xi had also expressed his intention to boost Asean-China trade in four major areas, namely in strengthening China-Asean Free Trade Area (FTA) involving private and government-to-government programmes; the importance of bilateral investment to boost China-Asean relations; improving connectivity in various fields and emphasizing on people-to-people relations, especially among youths and students.

 

As such, Muhyiddin said Xi also proposed the setting of an exchange programme involving 100,000 Chinese students and 100,000 other from Asean member countries.

 

At the end of the meeting, Muhyiddin also thanked the Chinese government on the loan of a pair of Chinese giant pandas, which were scheduled to arrive in Malaysia in 2014.

 

"Xi has described the loan as a symbol of Malaysia-China diplomatic relations. China doesn't give pandas just to anybody," he said, adding that the facilities for the pandas were being prepared at the Wetland Park in Putrajaya.

 

MYsinchew

Thursday, September 20, 2012

Asia's Oldest treasure - most advanced tomb discovered in the Philippines-1,000 years

In this March 1, 2011 photo released by the Philippine National Museum, Filipino archeologists measure the dimensions of a limestone coffin at Mount Kamhantik, near Mulanay town in Quezon province, eastern Philippines. Archeologists have unearthed remnants of what they believe is a 1,000-year-old village on a jungle-covered mountaintop in the Philippines with limestone coffins of a type never before found in this Southeast Asian nation, officials said, Thursday, Sept. 20, 2012. (AP Photo/Philippine National Museum)

Archaeologists have unearthed remnants of what they believe is a 1,000-year-old village on a jungle-covered mountaintop in the Philippines with limestone coffins of a type never before found in this Southeast Asian nation, officials said Thursday.

 

National Museum official Eusebio Dizon said the village on Mount Kamhantik, near Mulanay town in Quezon province, could be at least 1,000 years old based on U.S. carbon dating tests done on a human tooth found in one of 15 limestone graves he and other archaeologists have dug out since last year.

 

The discovery of the rectangular tombs, which were carved into limestone outcrops jutting from the forest ground, is important because it is the first indication that Filipinos at that time practiced a more advanced burial ritual than previously thought and that they used metal tools to carve the coffins.

 

Past archaeological discoveries have shown Filipinos of that era used wooden coffins in the country's mountainous north and earthen coffins and jars elsewhere, according to Dizon, who has done extensive archaeological work and studies in the Philippines and 27 other countries over the past 35 years.

 

Aside from the tombs, archaeologists have found thousands of shards of earthen jars, metal objects and bone fragments of humans, monkeys, wild pigs and other animals in the tombs. The limestone outcrops had round holes where wooden posts of houses or sheds may have once stood, Dizon told The Associated Press in an exclusive interview.

 

The tombs were similar to ancient sarcophagus, which have become popular tourist attractions in Egypt and Europe, although the ones found in Mulanay were simple box-like limestone coffins without mythological or elaborate human images on the tops and sides.

 

Archaeologists have only worked on a small portion of a five-hectare (12-acre) forest area, where Mulanay officials said more artifacts and limestone coffins could be buried.

 

A preliminary National Museum report said its top archaeologists found ''a complex archaeological site with both habitation and burial remains from the period of approximately 10th to the 14th century ... the first of its kind in the Philippines having carved limestone tombs.''

 

The discovery has been welcomed with excitement in Mulanay, a sleepy coastal town of 50,000 people in an impoverished mountainous region that until recently was best known as a major battleground between army troops and Marxist rebels.

 

''Before, if you mention this region, people will say 'Oh, that's NPA country,''' Mulanay Mayor Joselito Ojeda said, referring to the New People's Army rebels. ''But that era is past and now we can erase that image and this archaeological site will be a big help.''

 

Mulanay tourism officer Sanny Cortez said that after archaeologists have finished their work in a few years, his town plans to turn Mount Kamhantik's peak into an archaeological and ecotourism park. A museum would also be built nearby.

 

Despite the loss of thick tree covers in the 1,300-foot (396-meter) mountain's foothills as villagers clear the jungle for homes and farms, the forested mountain still harbors a rich wildlife, including rare hornbills, wild cats and huge numbers of cave bats, including a white one recently seen by environmental officials. The mountaintop offers a scenic view of Tayabas Bay and the peak of Mayon volcano, famous for its near-perfect cone, Ojeda said.

 

The archaeological site is part of 280 hectares (692 acres) of forest land that was declared a government-protected area in 1998 to keep away treasure hunters and slash-and-burn farmers. Treasure hunters looking for gold exposed some of the limestone tombs years ago, but it was only last year that Manila-based archaeologists started to unearth the graves and artifacts and realize the significance of the find.

 

Treasure hunting has damaged many archaeological sites in the country. In the early 1990s, Filipino archaeologists led by Dizon discovered that 2,000-year-old burial jars with unique human face designs had been destroyed by treasure hunters in a cave in Maitum town in southern Sarangani province.

 

Archaeologists worked for a few years to glue the sack loads of clay shards piece by piece and restored more than 150 ancient burial jars to shape. Some of the Maitum jars are displayed at the National Museum in Manila with a plan to exhibit them in France next year, Dizon said.

 

AP

Philippines level up to 61st in economic freedom rankings for +16 Notches Up

The Philippines leapfrogged to 61st place from 77th previously in the annual rankings on economic freedom around the world.

 

The country's score also jumped to 7.12 from 6.84, said the Economic Freedom of the World: 2012 annual report.

 

Out of 144 countries and territories surveyed for the report released by the Fraser Institute, Canada's leading public policy think tank, Hong Kong topped the field with a score of 8.9 out of 10.

 

Economic freedom is measured in five different areas: size of government (big government reduces the space for free exchange), legal system and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labor, and business.

 

Fred McMahon, vice-president international research of the Vancouver-based Fraser Institute, told The STAR on Tuesday that the Philippines' big improvement came in sound money, particularly allowing people to own foreign currency bank accounts.

 

There were also relatively small improvements in two other variables in this area: money growth and inflation variability.

 

"The Philippines also saw an increased score in size of government, in other words, government got slightly less intrusive in the economy," he said.

 

"Overall, these factors led to an increase in the Philippines' score from 6.84 to 7.12 out of 10. Because nations are tightly packed around these scores, this led to a move up in the ranks from 77 to 61," he added.

The rankings in this year's report are based on 2010 data, the most recent year for which comprehensive figures are available.

 

The other top 10 nations listed in descending order after Hong Kong with their scores in brackets were:

  1. Singapore (8.69)
  2. New Zealand (8.36)
  3. Switzerland (8.24)
  4. Australia (7.97)
  5. Canada (7.97)
  6. Bahrain (7.94)
  7. Mauritius (7.90)
  8. Finland (7.88)
  9. Chile (7.84)

 

Rankings (and scores) of other large economies in this year's index included: United Kingdom, 12th (7.75); United States, 18th (7.69); Japan, 20th (7.64); Germany, 31st (7.52); Russia, 95th (6.56); China, 107th (6.35); and India, 111th (6.26).

 

Venezuela was in last place with a score of 4.07 among the countries surveyed.

 

Myanmar, Zimbabwe, Republic of the Congo and Angola rounded out the bottom five nations.

 

Singapore was the best performer among the Association of Southeast Asian Nations (ASEAN) countries in the world rankings are as follows:

  1. Singapore - 2nd place,
  2. Philippines (61st)
  3. Malaysia (71st)
  4. Indonesia (76th)
  5. Thailand (87th)
  6. Vietnam (96th)

 

Following were the economic freedom scores and world rankings in brackets for the Philippines: Size of government 8.31 (9), Legal system and property rights 4.37 (110), Sound money 9.29 (39), Freedom to trade internationally 6.69 (97), and Regulation 6.92 (74).

 

philSTAR

Royal Thai Navy visits Philippines to strengthen ties

 

General Tanasak Patimapragorn, Chief of Defense Force of the Royal Thai Armed Forces, visits the General Headquarters Canopy area Wednesday, August 15, 2012. His visit was aimed to renew and further strengthen the bilateral military ties between the Philippines and Thailand. PHOTO BY SSG GILDO CABALO/AFP PUBLIC AFFAIRS

Officials of the Royal Thai Navy visited the Philippine Navy Headquarters in Manila Wednesday, September 19, to renew and further strengthen ties.

 

In a statement, Philippine Navy said the Royal Thai Navy headed by its Deputy Director General of Naval Operations Department Captain Teansiri Montriwade visited the headquarters and paid a courtesy call to Philippine Navy's Chief of Naval Staff Rear Admiral Edgar L. Abodago AFP.

 

Aside from strengthening the relationship between the two navies, the parties also discussed various issued related to maritime activities and military cooperation.

 

Philippine Navy said their cooperation with the Thai Navy dates back during the end of Second World War. A formal diplomatic tie between the two nations was established on June 14, 1949 through the signing of "Treaty of Friendship." From then on, relations between the two countries started to strengthen and flourish.

 

Cooperation likewise expanded outside trade and culture and began covering political, defense, investment, tourism, air services, scientific and technical, telecommunications, agriculture, justice and environment, among others.

 

The two nations are also among the founding members of the Association of Southeast Asian Nation (ASEAN) and also hold respective annual Cooperation Afloat Readiness and Training (CARAT) exercises with the U.S. Navy. (PN-PAO/RJB/JEG/PIA-NCR)

 

PIA

B2Gold to Buy CGA - C$1.07 Billion Dollar to Take Over Philippine Gold Mine

 

Clive Johnson, chief executive officer of Vancouver-based B2Gold. Photographer: Suzanne Plunkett/Bloomberg

B2Gold Corp. (BTO), a Canadian company with assets in Latin America and Africa, agreed to buy CGA Mining Ltd. (CGA) to gain control of the largest operating gold project in the Philippines.

 

The deal is worth about C$947 million ($966 million), or C$2.80 a share, in stock as of yesterday's close, down from its announced value of C$1.07 billion. CGA's Australian-traded shares rose 4.7 percent to A$2.67 at the close in Sydney today.

 

Buying Perth, Australia-based CGA will give B2Gold the Masbate mine in the Philippines, which has total resources of about 7.7 million ounces, according to the company's website. Adding Masbate would increase B2Gold's output by 57 percent, making it reliant on production from the Southeast Asian nation.

 

"It's a vote of confidence in the Philippines," the nation's Mines and Geosciences Bureau Director Leo Jasareno said in a phone interview today. The government has just renewed for another five years the license for processing in the Masbate gold mine south of Manila, Jasareno said.

 

Holders of CGA will get 0.74 of a B2Gold share for each they own, the companies said in a joint statement yesterday.

 

CGA rose 2.3 percent to C$2.71 at the close in Toronto yesterday. B2Gold fell 12 percent to C$3.79, its biggest decline since October 2008. CGA has gained 32 percent this year and B2Gold climbed 22 percent. The Philadelphia Stock Exchange Gold and Silver Index (XAU), which includes 30 mining companies, has gained 7.9 percent this year.

 

Immediate Leverage

B2Gold is currently forecast to produce about 350,000 ounces from three mines in 2012, according to yesterday's statement. The Masbate mine, which began operating in 2009, is expected to produce about 200,000 ounces of gold in the year through June.

 

"CGA and its flagship Masbate mine offers B2Gold shareholders immediate leverage to a significantly larger combined production profile," Clive Johnson, chief executive officer of Vancouver-based B2Gold, said in the statement.

 

Gold futures, which have gained 13 percent this year, reached a six-month high of $1.781.80 an ounce on the Comex in New York yesterday. Gold has risen for 11 straight years, reaching a record $1,923.70 an ounce on Sept. 6, 2011, in New York, as investors buy the metal as a store of value and a hedge against inflation.

 

"B2Gold is taking advantage of a strong share price and valuation to add a steady producing asset with a long mine life at what appears to be an attractive purchase price," Steven J. Green, a Toronto-based analyst at TD Securities Inc., wrote in a note yesterday.

 

Gold Deals

Excluding the B2Gold purchase, there have been $2.54 billion of takeovers of gold companies valued at $200 million or more announced this year, with an average premium of 43 percent, according to data compiled by Bloomberg. There were about $11.6 billion of deals in the same period last year, the data show.

 

Investment in mining in the Philippines may miss a $16 billion target by 2016 after the government stopped issuing new mining permits in January 2011, Philip Romualdez, president of the Chamber of Mines business group, said at a forum in Manila yesterday. An order from President Benigno Aquino in July extended that moratorium and expanded a mining ban until Congress passes a law giving the government a bigger share in resource contracts.

 

The B2Gold takeover requires 75 percent of CGA shareholders to vote in favor.

 

B2Gold was founded in 2007 by the former management team of Bema Gold Corp., which was sold that year to Kinross Gold Corp. (K) for C$3.67 billion. The company operates in Nicaragua, is developing a mine in Namibia and has a joint-venture project with AngloGold Ashanti Ltd. (ANG) in Colombia.

 

CGA is being advised by BMO Capital Markets and Haywood Securities Inc. and its legal counsels are Blake, Cassels & Graydon LLP in Canada and Middletons on Australia. Genuity Canaccord Corp. is B2Gold's financial adviser while its legal counsels are Lawson Lundell LLP in Canada and Squire Sanders in Australia.

 

Bloomberg 

Glencore's Philippine copper unit plans $600 Million USD expansion

Commodities trader Glencore International is close to concluding technical and financial studies for its $600-million plan to double capacity at the Philippines' only copper smelter and refinery, a top official of the smelter said on Thursday.

 

Work on enlarging operations at the refinery in the central Philippine province of Leyte could start as soon as next May, once the plan has been approved and finalised by the end of this year or early in 2013, Angel Veloso Jr., chairman of the Philippine Associated Smelting and Refining Corp (PASAR), told Reuters.

 

"In June, we announced investment of up to about $600 million," Veloso told Reuters. "The expansion plan is to increase capacity to a maximum of 1.2 million tonnes of copper concentrate."

 

The plant now processes 720,000 tonnes of copper concentrates annually and refines 215,000 tonnes of cathodes.

 

Technical studies should be completed by October and financial studies by December, Veloso said, adding that the project would take two to three years to complete.

 

Regarding the investment plan, Trade Undersecretary Cristino Panlilio said: "They are committed to that."

 

PASAR, which is 78-percent owned by Glencore, the world's largest diversified commodities trader, also wants to build a 200-MW coal-fired power plant to lower its energy cost, and may sell extra power to users at an industrial estate it plans to build near its refinery, Panlilio added.

 

"They have already informed us of their intention to file for (tax) incentives for the project," he said.

 

PASAR resumed operations at the refinery last month after it was shut in January by a fire.

 

The company, which has been producing copper cathodes for export since 1976, was acquired from the Philippine government by Glencore in 1999.

 

PASAR buys and refines copper concentrates from mines in Australia, Canada, Southeast Asia, Papua New Guinea and South America.

 

PASAR is one of only a handful of companies involved in downstream metals processing in the Southeast Asian country.

 

Philippine President Benigno Aquino wants the mining industry to shift to more value-added output by setting up processing plants and moving away from direct shipments of ores, so as to help the country raise more revenue from its largely untapped mineral resources, estimated to be worth $850 billion.

 

Reuters 

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