TradeExpress Asia
THE NEWSPAPER FOR GOV'T AND BUSINESS LEADERS
Vol. III No. 30 July 2-21, 2007
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Manila, Philippines
A S&P Publication
Tan seen to head PNB-Allied
Merged unit eyes regional partner
By S. V. SENOREN in MANILA
THE Lucio C. Tan (LCT) Group is reported to be looking into the
feasibility of tying up with a major foreign bank to make its banking arm
a key player in the Asian region.
FORD Philippines has taken the lead in the race to produce clean engines to power the transport industry.
Showing the engine of a Ford flexible fuel vehicle (FFV) to President Arroyo and Trade Secretary Peter
Favila are from left Ford Phils chairman Henry Co and Ford Phils. President Richard Carl Baker. The FFV
engine will be produced at the P1.1 billion Ford plant in Sta. Rosa, Laguna. It can run on gasoline with
up to 20 percent ethanol content. It will power the Ford Focus 1.8 liter and 2.0 liter models. (OPS Photo)
Consumer
Mood In Q3
Still Upbeat
CONSUMER confidence is
expected to remain upbeat during the
third quarter this year although
purchases may not be as heavy as
they were during the previous
quarter.
According to a Central Bank
survey, the outlook by consumers
was positive following the recently
concluded mid-term elections and the
takeover by new officials in July.
Consumers also expect the
business upturn to continue which
will lead to an increase in job
opportunities.
The BSP survey noted however
that most consumers expect their
expenditures this quarter to fall or
(Turn to page 3)
CLEAN
ENGINES BY
FORD PHILS.
Eyed as possible partners are
banking giants in China and Japan.
No specific institutions were
mentioned although Tan is known
to be dealing with large banks in Asia
and elsewhere.
Because China and Japan are
among the world’s largest
economies, having a Chinese or
Japanese banking partner will
strengthen and expand the influence
of Tan’s financial unit in the region.
It is more likely however that
Tan may end up with a Chinese
partner as his group already
maintains a significant presence in
the Chinese mainland.
The LCT banking group is
composed of the Philippine National
Bank and Allied Banking Corp. At
present, both banks operate as
separate units.
However, sources told
TradeExpress Asia that it was only
a matter of time before PNB and
Allied Bank are merged.
As soon as the consolidation
is completed, Tan is expected to
become chairman of the merged
entity. Currently, Tan is only a
director and keeps a low profile in
the operation of banks he controls.
Tan heads a vast business
empire which include interests in
airlines, hotels, mining, property
development, manufacturing and
financial services, among others.
Among taipans, he is the only one
who has yet to sit as chairman of
the banks’ board of directors.
Notable among taipans who
served as bank chairman are George
S.K. Ty of Metrobank, Henry Sy of
Banco de Oro, Jaime Zobel de Ayala
of Bank of the Philippine Islands,
(Turn to page 2)
US presses beef sales on new OIE policy
AUSTRALIA, New Zealand
and three others have been
declared by the World Organization
for Animal Health (OIE) as
“countries with a negligible BSE
risk” during a recent meeting of its
governing body in Paris.
The three others are
Argentina, Singapore and Uruguay.
Except for Singapore, all four
countries are major producers of
beef products which are exported
throughout the world.
During its 75th general session
in late May, the OIE body also
declared six other countries as
having a “controlled BSE risk”.
These are Brazil, Canada, Chile,
Switzerland, Taipei China and the
United States.
Recognized as “provisionally
free” from BSE were Iceland and
Paraguay.
BSE (bovine spongiform
DUMPIT-MURILLO VS ABC 5
SC rules on status of TV talents
TALENTS working in television and radio
broadcasting networks can seek regular employment
status if they have been continuously working for at
least one year under the control of the stations even if
they sign fixed term contracts as talents, according to a
recent ruling of the Supreme Court.
The SC decision was handed down in a case of
illegal dismissal filed by newscaster Thelma DumpitMurillo against ABC Channel 5 in 2000. Murillo
originally signed up as a talent in Channel 5’s news
department under a three-month contract. The contract
encephalopathy), also known as
mad cow disease, is a cattle ailment
which can be transmitted to humans
with fatal results if they eat meat from
BSE-infected cattle.
(Turn to page 2)
What's Inside
A nation run like
heaven by Filipinos?
Page 4
The forgotten holiday
Page 7
What are the effects of good
statistics on business?
(Turn to page 2)
Published by S&P Strategists Corporation * E-mail: stratcor@pldtdsl.net / tradeexpress_asia@yahoo.com * Tels: 634-0270 / 634-6436 * Fax: 634-0275
Page 11
TradeExpress Asia
2
July 2-21, 2007
Redefining RP's
lingerie business
By ROSE DE LA CRUZ in MANILA
SUBIC MAJESTIC HOTEL CELEBRATES 1ST YEAR - Olongapo City Mayor James Gordon (left), Capt.
Luc F. Helgen, chairman and president of Subic Majestic Hotel, his wife Consuelo, and Miss Philippines
Earth Jean Harn cut the ceremonial ribbon to mark the hotel's first anniversary last June 10. Now
tagged as the most affordable and cost-effective choice for business and leisure travelers visiting
the Subic Bay Freeport Zone, Subic Majestic Hotel has 76 well-appointed rooms and conference
facilities perfect for various corporate activities. Located right at the heart of the city's central
business district, the hotel continues to upgrade and improve in order to meet the increasing demands
of its returning guests. For inquiries, call (47) 252-5136 to 37.
SC rules (From page 1)
was renewed periodically for the
next four years.
When her contract was
terminated, Murillo filed a case for
illegal dismissal against the network.
Her case was dismissed by the
Labor Arbiter citing the lack of an
employer-employee relationship. On
appeal however, Murillo was
sustained by the National Labor
Relations Commission.
ABC 5 then elevated the case
to the Court of Appeals which
reversed the NLRC decision. As a
result, Murillo went to the Supreme
Court.
The CA had ruled that there was
no employer-employee relationship
between Murillo and ABC 5 citing
the case of Sonza v. ABS-CBN
Broadcasting Corp.
However in the decision penned
by Justice Leonardo Quisumbing, the
High Court ruled that the Sonza case
did not apply to Murillo. It said:
“In Sonza, the television station
did not instruct Sonza how to
perform his job. How Sonza delivered
his lines, appeared on television, and
sounded on radio were outside the
television station’s control. Sonza
had a free hand on what to say or
discuss in his shows provided he
did not attack the television station
or its interests. Clearly, the
television station did not exercise
control over the means and
methods of the performance of
Sonza’s work.”
In the case of Murillo, ABC 5
had control over her performance
as news anchor, the Court said.
The Court also noted that the
repeated extension of Murillo’s
contract was “a circumvention of
the acquisition of regular status.”
“While this Court has
recognized the validity of fixed-term
employment contracts in a number
of cases, it has consistently
emphasized
that when the
circumstances
of a case show
that the periods
were imposed
to block the
acquisition of
security of
tenure, they
should
be
struck down
for
being
contrary to law,
morals, good
customs,
public order or
public policy,”
the
SC
decision said.
US presses
FILIPINO women have only
recently been more meticulous
about their lingerie and
undergarments, looking at this
aspect more as a necessity that can
be filled by any material available in
the market. Yet because of massive
importation of brands like Victoria’s
Secret and others, Filipinas are now
more discriminating to the extent that
they set aside a big budget for
underwear and night gowns.
Responding to this new
requirement, young couple Carlo
and Kaye Garcia put up Hot Pink
Lingerie in 2003 which redefines the
lingerie business by coming up with
materials that are more affordable
and have softer hues, more chic
designs and more comfortable
texture.
“We honestly do not have a
lingerie business in the Philippines.
What we have are imported
underwear and lingerie sold by local
brand shops that normally cost a
fortune, which is why they are not
affordable to many of our people,”
said Kaye Garcia, whose first taste
of real comfort in lingerie was when
her husband, Carlo, bought her a set
of Victoria’s Secret underwear in the
US. It eventually gave her the idea
of putting up the business.
In Hot Pink, Kaye does all the
designs and selects the materials to
be used in manufacturing her
designs. She subcontracts all her
production jobs to local contractors,
thereby creating jobs locally.
“My designs are fun, playful
(but not too seductive), colorful and
young (geared towards the 25 to 35
age groups though they can easily
fit into older groups),” she said.
Her latest creation: the K bra—
with a thin metal liner for comfort
and a pad that is almost gel-like that
it clings to the breasts—is her
biggest hit product since it gives a
natural look on the shape of a
woman’s breast.
Though her products are still
expensive (with K bras at P900 plus)
making it unreachable to the masses,
more and more she is able to get into
the lower C to A markets while most
branded shops sell only imported
underwear and lingerie that bought
(From page 1)
This is the first time that OIE applied the
three BSE country classifications since the
disease was first detected in Britain in 1986.
The US, which has been trying to win
back its export markets, interpreted the OIE
classification as a broad signal for a
resumption of its beef exports for all
categories.
Following approval of the BSE risk
classification, US Agriculture Secretary Mike
Johanns announced that Malaysia had
agreed to import US beef “consistent with
World Organization for Animal Health (OIE)
guidelines, permitting bone-in beef and
variety meats from cattle of all ages.”
At present, several countries, including
PNB-Allied
only the AB markets can afford, she
said.
“Sometimes, when I change my
designs for the next season and I
decide to dispose of my old stocks
at almost tiangge rates, my first
customers are the mall’s female
security officers and the salesladies
who always inquire at my shop
when the sale would be so they
could save up for it,” Kaye said.
Hot Pink changes lines four
times a year—patterned after the
four seasons abroad.
The couple started the
business from a loan from Carlo’s
father (Freddie Garcia, president of
ABS-CBN) of P3 million which they
used to buy all-imported materials
from
Hong
Kong
and
subcontracting the production lines
to local contractors. But Kaye
designs everything based on the
kind of things she would like to have
for herself.
It was not until 2004 that the
couple decided to open its first Hot
Pink outlet at the third floor of Power
Plant Mall in Rockwell and
eventually entered the department
stores of Rustan’s (Makati, Alabang
Town Center, Shangri-la and later
Ermita). Their latest outlet is at SM
Mall of Asia, which the couple is
however re-thinking because foot
traffic is not geared towards
generating sales for their lingerie
line.
The first outlet at Rockwell
cost her P100,000 in monthly rentals
because it was big at 74 square
meters but she later got 34 square
meters also from Rockwell at P40,000
a month.
This year, the couple started
franchising Hot Pink with the
objective of opening the first three
stores by the second half of 2007.
Already, the Garcia couple has
been receiving franchising offers
online from Japan and Doha, Qatar .
They are also thinking of putting
up franchised stores in Cebu ,
Davao , Dagupan, Baguio and other
cities around the country.
The investment cost for Hot
Pink is P1.6 million including inventory and staff training.
the Philippines, only allow the importation of
boneless and deglanded beef derived from
cattle aged 30 months and below.
Johanns also cited Japan and South
Korea for easing restrictions on the entry of
US beef into their markets.
In a statement, the US official said:
“Science provides us with a clear data upon
which international trading standards were
built. All of our trading partners must be
mindful of these guidelines and work toward
complying with them. We are pressing for
clear, aggressive timelines from our trading
partners that demonstrate their commitment
to internationally-agreed upon OIE
standards.”
(From page 1)
and Alfonso Yuchengco of Rizal Commercial
Banking Corp.
The PNB-Allied merger will become the
fourth largest privately-owned universal bank
in the Philippines with an estimated resource
base of about P400 billion.
Both banks have been cooperating in
efforts to shore up their respective financial
standing. Last year, they agreed to hold joint
public property auctions nationwide.
PNB is owned 77.4 percent by LCT, 12.53
percent by the government and the rest by
the public. Tan is expected to acquire the
government stake which is being disposed
of under an ongoing privatization program.
At the end of the first quarter, the top
three banks in terms of resources were
Metrobank, Banco de Oro and Bank of the
Philippine Islands. Banco de Oro only recently
merged with Equitable PCIBank after the SM
Group of Henry Sy bought out the
government stake in the latter.
TradeExpress Asia
July 2-21, 2007
3
Germany revives
ties with Palau
By NAZARIO RODRIGUEZ, JR. in PALAU
GERMANY is bent on reviving
its historical attachment with Palau
by lining-up several plans for
cooperation including the increase
of tourism activities between the two
nations, educational and cultural
exchange programs and business
ventures.
This is according to outgoing
German Ambassador to Palau Dr.
Axel Weishaupt during a cocktail
reception for the commission of
Thomas Schubert as the new
Honorary Consul of Germany to
Palau last month at the poolside of
the Palau Pacific Resort.
Weishaupt said that Palau is
doing exactly the right thing in
aiming for high-end tourists and that
Germany could help a lot in this
effort. “Our relationship with Palau
will be better. German enterprise will
intensify but it will take time
especially with the presence of a new
consul because he’s well known
here,” said Weishaupt, who has been
based in Manila for the last three
years but will be posted soon to
Congo in West Africa.
“Palau is on the way up. I plan
to visit Palau after three years and
see the progress of the two nations’
relationship. I just want to thank the
nice people of Palau,” he said. There
are currently only eight permanent
German residents in Palau.
Accompanying Weishaupt was
German Embassy Head of
Administration Klaus Tesch.
President Remengesau, who
earlier officially accepted the
credentials of the new consul, led
other top government officials,
members of the diplomatic corps and
business leaders during the cocktail
reception. He said the improvement
of diplomatic relations with
Germany is good for both nations
especially so because of the longhistorical attachments.
European missionaries settled
to Palau in the late 19th century
establishing institutions that
somehow molded the lives and
character traits of the natives
including education and commerce
and trade. Emmaus High School is
a surviving German school for boys
still in operation. It was in those
years that most of the natives were
beginning to be conscious about
the modernizing world. But the
outbreak of World War I cut short
this emerging culture of change as
all the scattered islands in the Pacific
— from Kiribati, New Caledonia,
Vanuatu, Guam, Saipan, Yap,
Pohnpei, Tonga, Tokelau, Samoa,
and Palau — were not spared from
the holocaust. Englishmen were
said to be the first to make
expeditions here. Germany, then,
ceded Palau to Japan after World
War I.
President Remengesau said
that Germany wants to revive the
locomotive engine for transporting
coconut, which was then a lucrative
business for European traders
before WW I.
Weishaupt said that there is an
ongoing arrangement for cultural
exchange with the University of
Heidelberg and the Belau National
Museum and that the German
Embassy in Manila is planning to
put up a scholarship program for
Palauans who want to study the
language programs at the Goethe
Institute.
DE CASTRO AT TAGUIG RAILROAD TRACKS. Vice President and concurrent Housing and Urban Development
Coordinating Council (HUDCC) chairman Noli De Castro engages in a conversation with Taguig mayor
Freddie Tinga as they ride the new Philippine National Railways (PNR) train running along the Taguig
tracks. De Castro, during his consultation visit to the families affected by the Southrail Linkage project in
Taguig, announced that the first 1,000 informal settlers voluntarily relocating from Taguig to the government
resettlement area in Trece Martirez, Cavite will be offered a low monthly amortization of only P200.
UE hosts roundtable discussion on effects of WTO
THE University of the EastFoundation for Research and
Advanced Studies, Inc. (UE-FRASI)
will conduct a roundtable
discussion entitled “Advancing
Philippine Interests in WTO Issues”
to be held on Friday, July 20 from
8:30 a.m. to 5:00 p.m. at the UE
Manila campus.
The discussion, which is the
first of a series of seminars on the
Effects of the World Trade
Organization (WTO) on the
Philippines,
aims to surface
the concerns
of different
s e c t o r s
affected by the
WTO in the
aspect of competitiveness; and to
address the erosion of trade
preferences.
Guest speakers, consisting of
business/industry
leaders,
government and academic officials,
will highlight the burning issues
affecting the Philippine economy
vis-a-vis WTO, e.g., agriculture
policy concerns, liberalization
impact on domestic trade, tariff
policy, telecommunication and
transport infrastructure capability
and Philippine world trade
competitiveness. A synthesis of the
ensuing group discussions and
open forum will cap the event.
Representatives from business,
trade and industry, management
associations,
research
organizations, graduate schools,
professional societies and the Lucio
Tan Group of Companies, etc. are
expected to attend the discussion.
For further details, call tel. nos.
735-5471 to 82 local 446 or 736-1752.
Roxas seeks tax exemption
for minimum wage earners
SENATOR Mar Roxas sought to ease the
financial burden of the country’s 7 million
workers earning minimum wage or less, by
seeking through legislation, their exemption
from paying income tax.
Roxas’ Senate Bill No. 103, filed last
Saturday at the start of the 14th Congress, seeks
to exempt minimum wage earners in the private
sector as well as government workers in Salary
Grades 1 to 3, by amending certain provisions
of the 1997 National Internal Revenue Code.
“The intention of the bill is for
government not to exact income tax from
minimum-wage earners so that these workers
could have more disposable income. Since
most goods and services are subject to VAT
anyway, these workers would still be able to
contribute to the economy as consumers,” he
said.
In the National Capital Region, a minimum
wage worker earns P300 daily, or P7,800 per
Consumer mood
month and P93,600 per year for work from
Monday to Saturday. Of this, annual taxable
income is P25,274.60. Applying the present
5% rate, the tax due a minimum wage earner is
P1,727.46 per year, and P143.96 per month, an
amount Roxas said matters a lot to families
struggling to make ends meet.
Roxas said “Based on these figures, the
extra monthly income made possible through
enactment of SB 103 translates to over 6 kilos
of rice, or an extra kilo of pork, or an extra 2
kilos of tilapia from the market. These extra
savings can also be used to buy maintenance
medicines or even vitamins for infants and
children,” Roxas said.
The senator from Capiz noted that every
year, during Labor Day celebrations, tax
exemption for minimum wage earners has
always been part of the workers’ wish list.
“It’s time we deliver on our promises to
these workers by granting them, through law,
this timely and vital non-wage benefit.”
(From page 1)
remain flat. The acquisition slowdown may
hit the consumer durable sector and big ticket
items such as motor vehicles and real estate.
However, higher spending may occur in
such sectors as education, clothing and
footwear, and fuel due largely to school
opening-related expenditures and higher crude
prices.
During the second quarter, there was a
significant increase in purchases of consumer
durables, motor vehicles and residential
properties. The uptrend was attributed to
increasing affordability of products due to
easy installment terms, favorable weather
conditions which made property evaluation
and appraisal easier, and lower interest rates.
In the heart of Tagaytay City will rise
One Tagaytay Place,
featuring the convenience of condo and hotel
features and amenities.
Enjoy the cool and refreshing climate of one of the Philippines’
popular summer capitals. One Tagaytay Place has choice units with
sensational views of Taal Volcano, Taal Lake and mountain scenery.
Approximately 1 1/2 hours from Manila, it is the perfect home away
from home, and more -- with the advantage of being situated near the
country’s premier golf courses, resorts and leisure communities.
One Tagaytay Place has a selection of Rental Pool Units which
owners can rent out through the condotel management and receive
rental income on their property making the ownership of a unit an
income generating property and investment.
OWNER/DEVELOPER:
LEAD BROKER:
LAND TREASURES REALTY
Whether you be a man or woman you will never do anything in this
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JAMES ALLEN
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atlanticaonline@yahoo.com
632-0646 / 632-9829
0919-4099337
land_treasures@yahoo.com
(For announcement purposes only.)
4
FEATURES
TradeExpress Asia
July 2-21, 2007
'A nation run like heaven by Filipinos'
POST MORTEM
By WILLY E. ARCILLA
"Shopping list: bread, milk,
eggs, senator..."
IN THE wake of the recent midterm elections that majority agree
was “relatively successful”, we have
heard many sectors exhort the
government and our newly-elected
officials to unite and focus on
sustaining the economy’s strong
momentum. I concur, but perhaps
even more basic is the need for
President Gloria Macapagal-Arroyo
and her team to craft a vision and
mission for the country that can
serve as the unifying mantra for 88
million Filipinos living here and
abroad to invoke as we all move
forward.
In doing so, I propose we revisit
the famous quotation of the late
Manuel L. Quezon, the first President
under the Commonwealth, who said,
"I prefer a country run like hell by
Filipinos to one run like heaven by
Americans." We were all taught in
school to praise the great wisdom
and courage in this declaration, and
so we did. However, now that we
have experienced how it has been to
actually live in a “country run like
hell by Filipinos” since gaining
independence on July 4th, 1946, I
believe we have to rethink this
saying.
This is because that line now
sounds like the most self-serving
political rhetoric you can ever hear
from the head of state of any country
on this planet. In the first place, why
would a country’s paramount leader
prefer a country run like hell if he
was truly looking after the welfare
of the people? It also presumes that
only Americans are capable of
running a nation like heaven. I’m
sure that even Americans today will
not agree with this statement. This
seems to be the height of colonial
mentality cloaked in selfish
ambitions and exposed in political
rhetoric. Finally, if Quezon was
convinced that the Filipino
leadership was ill-prepared at that
time to take on the reins of
government and assume full
responsibility over a sovereign state,
then why did he rush it? It only
gave the Americans an alibi to
neglect the devastation wrought by
their own artillery in the liberation of
Manila, abandon us to carpetbaggers and transport their
machinery and engineers to Tokyo
to reconstruct post-war Japan.
The full text was even more
bothersome: “Because however
bad a Filipino government might
be, we can always change it.” Is it
any wonder therefore why we have
been lurching in the past several
decades while our Asian neighbors
have raced ahead of us in economic
What makes
prosperity – Korea, Taiwan,
Singapore, Hong Kong, Malaysia,
Thailand, China and pundits claim,
soon Vietnam?
My recommendation is to put
a spin on Quezon’s statement to turn
it into a more positive one, and
adopt it as our Vision/Mission – to
aspire for A Nation Run Like Heaven
by Filipinos.
If we all agree this is a noble
cause to adopt, then what would it
take for a nation to be run like heaven
by Filipinos? Let me offer the
following truisms:
1. Lead by example. Practice
what you preach and walk the talk.
Lead yourself then others will follow,
whether you’re the head of state or
the head of a family.
2. Keep your promises. To your
children, your spouse, your parents,
relatives and friends. To your
workers and colleagues, peers and
students. To your customers and
suppliers. To shareholders and
partners. Most of all, to yourself
and to God.
3. Promote a culture of
excellence and not excuses across
all sectors of society. Drive
revenues to grow the total pie,
whether it’s the GNP, your company
sales or HH income. Cut costs.
Conserve cash. Be innovative.
Competitive. World-class.
4. Work harder, faster and
smarter. Live the Olympic spirit of
“Faster, Higher, Stronger” in
whatever you do. Speed is the
essence of war. Cut the bureaucracy
– not just in government, but even
in the private sector, manifested in
inertia, resistance to change, lack of
inventiveness and a Not Invented
Here syndrome.
5. Live a work-life balance.
Live a healthy active lifestyle. Eat a
balanced diet. Quit smoking. Drink
moderately. Exercise regularly. Men
sana en corpore sano. (A sound
mind in a sound body). All work
and no play make Juan a dull boy.
6. Raise educational standards.
Pay schoolteachers more for their
heroism. Master Math & Science.
Study Engineering & Technology.
Read. Raise English proficiency.
Learn Mandarin. Teach the right
values at home and at school; at
work and at play. What value is an
education without an education in
values?
7. Be frugal. Delay gratification. Spend less. Save more.
Invest. Waste nothing. Be thrifty
with yourself – but not with the poor
– your employees or house help.
(From page 12)
come together in a single plot. Every
Bollywood movie is a musical and
every situation is an excuse for a
song. Courtship, consummation of
love, heart break, anger, protestation
- all call for a song - many of which
rather than being intimate affairs are
more akin to a lavish Broadway
performance - together with the
fantastic costumes, colors, and
scores of background dancers
dancing in tandem.
Now, this would completely
bewilder an uninitiated viewer. The
8. Preserve the environment.
Reduce. Reuse. Recycle. Use two
sides of a sheet of paper. Save trees.
Plant trees. Save our seas. Clean our
rivers. Protect our animals.
9. Stop graft & corruption.
Both in the public and private
sectors. Do not bribe, steal, cheat
or lie, nor tolerate anyone who does.
Return what you have taken illegally
or “by mistake”. There is no
forgiveness without restitution.
Then go to confession. Children
must admonish their own parents
who commit wrongdoing. Report
cases to the Commission on Audit,
the Ombudsman, the PCGG, the
Sandiganbayan, the Presidential
Anti-Graft Commission, and if all
else fails, directly to the President.
10. Fight poverty. Raise wages
and salaries. Poor workers are poor
consumers. Share your profits.
Workers who are part-owners are
more productive. Pay the right taxes.
Share your wealth. Less for self.
More for others. Enough for all.
11. Vanquish the vices.
Alcoholism, smoking, drug abuse,
gambling, prostitution.
12. Stop violence. Ban guns.
Ban weapons. Ban fighting – both
physical and verbal. Starting with
government leaders’ politicking,
mudslinging and internal strife.
13. Stop sexual immorality.
Indecency and nudity, licentiousness and salacious behavior,
flirtatiousness and promiscuity,
fornication and adultery, infidelity
and yes, even homosexuality. It’s
against natural and divine law.
14. Promote responsible
parenthood. Help mend broken
families. Scorn annulments and
separations. If you think you can’t
pay for a child’s education, delay
marriage. Use natural family
planning only. Abstain.
15. Overcome pride. Manifested in selfishness and selfinterest, greed and avarice. Swallow
your pride– it’s non-fattening.
Finally, it goes without saying
that a nation run like heaven will be
populated only by passionate,
positive and prayerful Pinoys who
can serve as a beacon for the whole
world as we undertake our Godgiven mission — to help renew the
face of the earth.
beloved accepts the lover’s
proposal and heavens break loose!
Where did all the dancers descend
from? How did the scene suddenly
shift to the hills of Scotland ? Why
are the lovers dancing with
synchronized movements? Is it
some kind of ancient consummation
ritual? How does it all add to the
plot? Well it doesn’t. Who said
Bollywood was about making
sense. It’s all about unhampered,
unhindered entertainment.
But it would also be wrong to
say that Bollywood is insulated
from outside influences. Many a
Hollywood script is lifted scene for
scene and unloaded on
unsuspecting audiences. But being
churned through the Bollywood
machine yields a product so dazzling
that the original moviemaker would
pinch himself and rub his eyes in
disbelief. The torrents of tears, the
roars of rage and revenge, the singlemindedness of the hero’s quest, the
thuds of fists, the unflinching
devotion of the heroine,
the predominance of “mother” and
“motherland”, the cosmically evil
villains (touted with leery
expressions and stock dialogues like
“long live Satan” or “I am a
dog”), the dancing angels who
appear out of nowhere, the
panoramic colors, the clothes, the
hairstyles, the improbabilities, the
coincidences, and the invariability
By ARIEL S. GENER in MELBOURNE
"THE elections are over but
the cheating”, wrote a colleague.
That was several weeks ago.
I totally agree with him. In fact,
I call his bet, and raise him one. I
say, “The elections and cheating
are over but the stealing”. That
had just begun.
That’s a little tough to swallow.
Of course, not all who won cheated,
and not all who cheated are going
to steal.
But, I think it is pretty safe to
say the majority of the new and reelected incumbents will have
improved their financial bottom
lines by the time they turn over their
offices and official coffers to their
successors a few years from now.
Some Philippine politicians just
seem to have a penchant for
treating their bureau’s or
department’s operating funds as
their own personal credit accounts.
Kind of like a VISA Card with tens
of millions of pesos of credit line.
Only, they don’t pay the monthly
bills and interests. Who pays
them? YOU do, and your children
and grandchildren will.
I mean, really, is there anyone
here who actually expects things
to “get better” just because we
have new faces in office? The only
thing new is that we have a new
set of people who may soon begin
to enrich themselves, their families,
and their friends.
Now, just to be fair to our
elected officials, we the electorate
own part of the blame. For while
we all wax eloquent about how we
need to “clean up the government”,
or how we need “more honest
public servants”, many of us really
just supported candidates in the
last elections whom we thought
might make our own lives easier by
facilitating our own bureaucratic
needs.
We are our own private
interest groups. We want our
public officials to use his/her
influence for our benefit, forget
everybody else. The more
powerful and affluent among us want
to ‘own’ public officials who would
be beholden to their private or
corporate interests – so they could
jump the line, put one over somebody
else, or simply have that unrestricted
access to the halls of power.
Many want to ‘have a politician
in (their) back pockets’ to hold an
unfair advantage over everybody
else. We want to be friends with, or
be related to, people in “high places”
so ‘they’ can bend the rules a little
bit in our favor when we need help.
We all know how useful it could
be to know someone from Customs
who will ‘authorize’ our questionable
package of exotic fruit from East
Egypt, or just ‘wave through’ our
Balikbayan relatives’ excess baggage
at NAIA. We want a Senator or a
Congressman to be Ninong or
Ninang at our son’s or daughter’s
wedding so he or she can drop
Ninong Senator’s name when
stopped by the traffic police, or when
applying for that Consulate job, or
nailing that lucrative but elusive
business license.
The list goes on and on.
So, in the end when we blame
“corrupt” politicians for the woes of
our nation, we all should also take
some responsibility for putting them
in office…by expecting them to be
corruptible…for our own selfish
interests. They are corrupt because
deep in the dark recesses of our
hearts we want them to be corrupt for OUR individual purposes.
Now, where is that freakin’
Blackberry? I need to get a Bentley
out through Subic Freeport. Not taxfree, but it WILL be, after Ninong
Senator makes the right phone calls.
Man, who ever said democracy is
bad?
(Ariel S. Gener is a decorated
combat medic for the US Navy and
Marines during Desert Storm, Black
Hawk Down, among other military
campaigns. He now dissects
economic, social and political
interests "from the rear" somewhere in the South Pacific.)
of the ultimate triumph of truth.
Bollywood caters to the
particular psychological needs of
the Indian audiences. It offers an
escape for its primary audience the masses. Their escape from the
drabness and harshness of
everyday life - their taste of
glorious love, a venting of their
frustrations with every punch of
the protagonist, the dazzling
colors a relief from the grey shades
of real life. That explains the milelong queues outside theatres, the
enthusiastic clapping and
whistling inside when the hero
performs his impossible feats or
the heroine shows her ankle.
Definitely, Bollywood is India’s
catharsis.
Recipe for Masala’ e’
Hindi Pikture
Directions:
1.Put the base, i.e., a plain
Hollywood movie in a large based
utensil over medium-high heat. Let
the mixture simmer over the fire a
little. Drain off core theme, serious
dialogues and meaningful
messages - if present.
2. Pour in wise, vulnerable,
sincere, on a social reformist
mission, uncompromising on
values, disinterested in meaningless sex, impeccable English
speaker but inclined towards
Hindi, dancing expert, karate 7 dan
male protagonist; and voluptuous,
sensuous, cutely dumb yet wise,
modern yet rooted in traditional
values, dancing expert female lead.
Also pour in generous portions of
chili romance, spicy chili college
songs, diced slapstick humor and
sugary happiness. Keep stirring
occasionally and cook for half an
hour.
3. Now very slowly add 10 heaping
spoonfuls of misunderstandings,
gently blending it into the mixture.
Add uni-dimensional antagonist with
crazy eyes, pet dialogue, and strange
name (for eg bhai ji, baap ji, dong,
dang, bacchu yadav, bhageera) and
20 heaping spoonfuls of violence.
Add revenge, honor, traditional
values, patriotism, and glory/
sacrifice of motherhood. Season with
car chases, punch ups, gun fights,
ugly baddy sidekicks, lovemaking
scenes, politician bashing, Western
value bashing, Pakistan bashing,
make-ups, break-ups, sexy sidekick
to lead baddie, doting wife, dedicated
friends, tears, and thundering
glorious monologues. Stir to blend,
then cover and simmer over low heat
for at least two hours.
4. After two hours, finally add 30
scoops of climax/anticlimax paste.
Cook over intense fire for 20 minutes.
5. Serve in bowl; evenly sprinkle
importunate songs for decoration.
6. EAT!!!!!
July 2-21, 2007
TradeExpress Asia
5
6 TradeExpress Asia
http://tradeexpress.wordpress.com
OPINION
July 2-21, 2007
EDITORIAL
Concern on China's products
THERE is reason to be concerned about the safety of
drugs and food products from China which enter the
Philippines in commercial quantities but do not pass
regulation by appropriate government agencies.
Making regulation difficult is the large population of ethnic
Chinese who bring in products with or without government
approval.
It is so easy to spot them in stores in Chinatown or in
outlets in Divisoria. They can range from nuts to herbs to
medicines to processed food products. Even expressly
prohibited imports like Peking duck is readily available and
a much sought-after delicacy in big hotels and fancy
restaurants in Chinatown.
Recent reports about poisoning caused by Chinese
consumer products make it all the more imperative for the
government to take a closer look at such imports, especially
food and food-related items.
On several occasions, consumer product exports from
China were found to contain toxic chemicals which were
used as cheap substitutes for other ingredients. Anti-freeze
chemicals in toothpaste, dangerous chemicals in pet foods,
banned antibiotics in seafood, and so on.
Part of the blame was placed on corrupt Chinese
regulators who took bribes while looking the other way.
It was only as late as last month that China’s officialdom
cracked the whip on erring producers. Chinese officials
hoped that producers would adopt the standards of their
export markets to maintain the acceptability of their
products.
But with the sheer number of establishments spread
across mainland China, making manufacturers toe the line
may take some time.
In the case of the Philippines, there can be no buckpassing among agencies because responsibility is clearly
spelled out in existing policy measures as recent as the
Consumer Act of the Philippines.
Under the Consumer Act, the Bureau of Food and Drugs
of the department of health is responsible for food and
drugs; the department of agriculture for agriculture-related
products; and the department of trade and industry for other
non-food consumer items.
But even the consumer act itself needs to be upgraded.
While it spells out in detail what should or should not be, it
forgot to specify in what language consumer information is
to be written.
Thus, in the case of products from China that are not
meant for the export market, labeling is in Chinese
characters. The same with products from Korea or Japan
or even Thailand.
So unless a consumer knows how to read Chinese,
Korean or Japanese, he will not know what he is actually
buying.
It is possible that an imported product complies with
the consumer act by indicating such requirements as brand,
trademark, ingredients, expiry date, etc. except that they
are printed in the language of the exporting country.
It is about time that the agencies concerned require
imported items to carry labels that are printed in English
or Pilipino, as the case may be, since these are the two
recognized medium of instructions in the country today.
TradeExpress Asia
Publisher: SAMUEL V. SENOREN
Editor: DENN A. MENESES
Correspondents
Manila: CONSTANTINO C. GANTINAO III,
TESS R. BIGORNIA, ABE C. MARZO, BUTCH F. GUINA
Quezon City: ALEJANDRO DANAO JR., ROSE DE LA CRUZ
Bangkok: CONNIE S.P. ESTAMPADOR
Palau: NAZARIO RODRIGUEZ JR.
Saipan: JONATHAN V. PEREZ
Chandigarh: PANKAJ TANEJA
Sydney: WILLY AGUINO
Melbourne: ARIEL S. GENER
Mississippi: D. E. WILSON
Columnists
EDGAR E. SERRANO, FRANK GREGO, RAUL S. GONZALEZ, BER PACHECO
Editorial Cartoonist
ARCHIE D. ALMEIDA
Chair: MARITESS G. CONCEPCION
Advertising: TONI O. BARSANA
TradeExpress Asia is a controlled circulation newspaper distributed to selected leaders in government, business and industry.
It is published by S&P Strategists Corp. with editorial and business offices at 18th Floor, Prestige Tower, Emerald Avenue, Ortigas
Center, Pasig City. Tel.: 634-6436/634-0270 Fax: 634-0275 E-mail: stratcor@pldtdsl.net. Entered as Third Class Mail at Ortigas
Center Post Office under Permit No. BPSPM-05-31-NCR.
Breast milk is best for babies...
In My Notes
By SAMUEL V. SENOREN
Scratching each other's back
is high compared to that of
Singapore, Hong Kong and even
Thailand. This is business reality.
And in Congress, the youscratch-my-back-I’ll-scratch-yours
exercise is political reality.
In Congress, favor-seekers are
everywhere — be they lobbyists for
big business or wards seeking
employment at the Bureau of
Customs or the BIR. That is how
the process starts which may
eventually end up at the Commission
on Appointments. How?
Let’s suppose a member of the
CA has a protégé who works at the
BIR. He is due for promotion but
can’t get anywhere because he
does not belong to the inner circle
at the head office. He asks his
congressman-benefactor
to
intercede for him. The congressman
then talks to boss of the BIR boss
who happens to be the finance
secretary waiting for CA
confirmation. The finance official
doesn’t consider the request big
deal. He approves the promotion and
he gets confirmed. Extortion?
Bribery? What exactly is the
anomaly? Very Filipino.
To a bigger extent, it is no
different from the act of the Speaker
REPORTS about members of
the bicameral Commission on
Appointments demanding money
as a condition for confirmation of
presidential nominees is a gross
exaggeration. Favors, perhaps, such
as endorsement or promotion of
protégés? But extortion? Incredible,
that’s not the way things work in
Congress.
However, currying favors in
Congress to get something or get
things done is a story as old as
Adam and Eve. In fact, it’s the same
story told over and over again in
the
bloated
government
bureaucracy.
For example, an ordinary
businessman who deals with a
government agency to meet such
requirements as a business permit
or a sanitary clearance knows that
there are extra costs involved if he
wants prompt action on his papers.
This is one reason why the cost
of doing business in the Philippines
ViaThePen
of the House who assigns a
hothead to chair the committee on
something so the latter won’t make
trouble on the floor and make it
difficult for him to rule.
In the case of the controversy
involving the CA, the issue is a twoway street. It can work both ways.
The CA member may seek a favor
from a nominee or vice versa, but
not necessarily in that order.
The
problem
with
appointments needing CA
confirmation is that most often
nominees run after the positions
instead of the other way around.
People want to be Cabinet members
under the guise of serving the
people at the pleasure of the
President.
Why highly qualified people
should run after a position that pays
less than P400,000 a year is a
mystery to many. Perhaps, members
of the CA see something that
ordinary citizens don’t?
Anyway, in a week or two, the
CA issue will just die down after it
is sapped dry of juicy details, if any.
By then, for CA members, it would
just have been a bad dream
conjured by a hallucinating member
of Congress.
By FRANK GREGO
Less capital, more profits
THE current dynamic
interaction between the wealthy
nations and the developing ones
even on toxic hospital wastes
indicates a looming bullish global
capital mobility.
This is a vibrant intercourse
among the disparate economies
that sets the motion to stimulate the
frigid investible funds to come out
of their tills so as to rapidly renovate
the financial system of poorer
countries.
For undeniable is the fact that
businessmen in affluent nations
who have the enormous though
hidden capital do not come out
unless they see the cryptograms for
not only a greater but also a faster
turnover on the returns of their
investments.
Hence, they put their money in
ventures that early show potential
growth with little input. And toxic
hospital garbage export is a very
potent example, for it will not entail
much capital among the
businessmen of the well-heeled
states.
They can just run either a toxic
waste collection firm to pick up the
solid garbage in their megalopolitan
hospitals, or buy the governmentcollected thrash for export to third
world countries.
This way the affluent, timid but
shrewd investors in advanced
countries have very much less
exposure, which is what they
salivatingly crave for – less capital,
more profit.
In fact this is the early phase of
the newest commercial scheme of
highly developed nations to
increase the amount of their private
capital going overseas, as currently
practiced by the Japanese,
Americans, and the European
Unionists.
With their format of engaging
in direct foreign investments by
their private companies in the
deprived and broke territories, they
attain a hero image. And these direct
foreign investments (DFI) are what
all heads of governments solicit
whenever they go on state visits for
investment solicitations.
This is because DFIs entail
foreigners to put up their own
industrial buildings and contents
therein - machinery, and other plant
accessories. Which of course
greatly contribute to the changing
of the physical, social and economic
landscape of the host territory:
Plus the carpentry, masonry, labor,
and other employment generated
in factory construction. Also the real
estate tax in the purchase of the land
where the plant would stand.
Followed by the sales tax to accrue
from the purchase of lumber, cement,
sand, gravel, nails, GI sheets,
electrical wires and bulbs, and other
construction materials.
Or the investors may just buy in into
an existing enterprise resulting in a
bi-national or multinational venture,
including the citizens of the host
country. By this format the flow of
money from the progressive nations
to the third world increases by 30
folds! (frank.grego@yahoo.com)
OPINION
July 2-21, 2007
Twice Told Tales
E-mail: tradeexpress_asia@yahoo.com
By RAUL S. GONZALEZ
Eye Opener
The forgotten holiday
(Note: This article was first
published in the defunct The
Evening Paper on July 4, 1996, and
was originally entitled "Fifty Years
Ago".)
BY THIS time, Mina Gabor’s
extravaganza at the Luneta must
have played out already: the
reenactment of the ceremonies that
took place there 50 years ago for 15
years, two generations of Filipinos
held up as the moment that defined
their freedom.
I doubt though that any
tableau, any theater – even one put
together by such as Tourism
Secretary Gabor with her vaunted
eye for detail and passion for realism
– could recapture the mood of that
moment on July 4, 1946 when, finally,
the Filipino found freedom thrust
into his hands.
They were hands still trembling
in fright and fury from the battle –
no, the butchery – that razed the
most graceful of Asia’s cities just 16
months earlier; still palsied from the
starvation he suffered through years
of enemy occupation; still scarred
from defending an American revered,
as a soldier in the jungles of Bataan,
as a guerilla in the boondocks of
the archipelago.
That must be why as they
reached out to accept the gift of
freedom, these hands seemed
tentative, hesitant, like those of a
child torn between the fear of losing
his grip on his mother’s apron
strings and the craving to try out
his new toy.
That — and perhaps the
realization that it had not yet been a
year since war ended the way it did:
in two explosions so mighty they
Prima Facie
hurled the world into an entirely new
age – strange, forbidding, freighted
as much with meaning as with
menace.
No, it is not through
dramaturgy or pageantry that one
can replicate the temper of those
times. The closest we can get to
understanding the hopes and fears
of that moment is by commanding
our heart to read, or re-read, the
words which were uttered at the
Luneta on that breezy Thursday
morning 50 years ago.
Here now the words of Douglas
MacArthur, General of the Army and
to the Filipinos of that time, symbol
of all that is great in America:
“…For 48 years since my father
first led our army down Singalong
Road to liberate this great city of
Manila, close identification with you
has been my personal privilege.
Through these years I have
witnessed with admiration your
magnificent progress in selfsufficiency and your long, earnest
and unyielding aspiration for
independence…
“Let history record this event
in flaming letters as depicting a new
height of nobility in the relationship
between the peoples of the East and
the peoples of the West. Despite
racial, cultural and language
differences and great distances of
geographical separation, they
forged an affinity of understanding
which survived both the vagaries
of peace and the shock of war…
“In behalf of the great Army
which I here represent, I stand at
salute to the Republic and the
people who proudly compose it –
this land, this people that I have
known so long and loved so well.”
Now the words of Senator
Millard Tydings, co-author of the
law which guaranteed us
independence within 10 years from
the institution of the Philippine
Commonwealth:
“Though the political ties
which have bound us together will
today be severed, in the larger sense
those ties of friendship, regard and
respect which come from sacrifice
upon the battlefield in the cause of
the freedom, will endure until the
very end of time…
“When the clouds of adversity
cast their shadows over these lovely
islands, when the cruel and ruthless
invader rode in fleeting victory
through your cities and towns,
when your women and children
were tortured, and your men
wantonly killed in an effort to impose
by force what persuasion could not
win, you never faltered, and though
ringed about by overwhelming
forces, you proved unconquered
and unconquerable – ever tended
the torch of liberty, and ever kept
the flag of resistance flying at the
masthead!
“For all of this the Motherland
is grateful. For all of this the word
‘Filipino’ is one of the most
respected names in the English
language. For all this we thank a
kind Providence for imparting to our
government the wisdom to deal with
the Filipino people as brothers, to
recognize them as lovers of justice
and democracy, whom we would
help to travel the long and difficult
road to eventual independence and
nationhood.
“Devastated as many of these
islands have been, your commerce
destroyed,
your economic
productivity shattered, your
financial institutions looted and
wrecked, the years ahead are going
to call upon the Filipino people for a
continuation of those high qualities
of heart and mind which have
(Turn to page 10)
By EDGAR E. SERRANO
Stretching the value of OFW income
TWO measures are being
contemplated by Philippine finance
officials to soften the impact of a
strong peso against the dollar which
has greatly alarmed the country’s
small and medium exporters and the
business sector in general.
While government is actively
working on ways to help exporters
and businessmen, sources linked
with the country’s millions of
workers abroad are saying that no
clear government intervention is yet
in sight to help OFW families cope
with the diminishing value of their
dollar income.
A government report last week
showed the economy grew 6.9
percent in the first quarter,
accelerating from a revised 5.5
percent in the previous three
months, and faster than the 5.7percent prediction in a survey made
by an international news agency.
Expecting the peso to continue
appreciating, Finance Secretary
Margarito Teves said the
government-owned Development
Bank of the Philippines (DBP)
announced that it is now working
on a $1-billion hedging facility that
will guard exporters from losses
resulting from fluctuations in the
exchange rate.
Bangko Sentral ng Pilipinas
deputy governor Nestor Espenilla
Jr. confirmed proposals are being
considered to lift some of the more
restrictive provisions governing
bonds, equity securities, and
investment and derivative
instruments – all meant to make it
easier for people to transmit foreign
currency, such as US dollars,
outward.
Most financial consultants say
that the best option for overseas
workers in getting more out of their
foreign currency incomes still remain
within themselves through a strict
regimen of maintaining consistent
savings levels.
According to the World Bank,
the Philippines ranks fifth globally
in terms of remittances received from
its overseas workers. The World
Bank report was based on 2004
figures, with India reported to have
received $22 billion, China $21
billion, Mexico $18 billion, France
$13 billion and the Philippines $10
billion.
Latest available data from the
Bangko Sentral ng Pilipinas indicate
that in 2006, remittances of overseas
Filipino workers coursed through
banks reached a record high level
of $12.8 billion. Another $1.2 billion
was estimated to have been remitted
through informal channels. The total
amount is equivalent to 10.9% of
our Gross Domestic Product.
A financial consultant and chief
finance officer of a large Philippinebased real estate developer, said the
challenge for overseas workers is
consistency in maintaining their
savings and choosing the right
income rate available for time
deposits or money market
placements.
In a worksheet he prepared, he
showed the outcome of investing
5,000 pesos monthly (religiously) at
a compounded interest rate of 4%
per annum or .33333% per month
over five years or 60 months. The
worksheet showed that the
investment will total PhP338,725 at
the end of 5 years, equivalent to
305,000 pesos of savings plus
33,000 pesos of interest earned.
The finance consultant also
adds that the OFW can take a little
more risk by re-lending part of the
savings to reliable borrowers at a
higher rate of from 12 to 18 percent
per year (not 5/6). He said that this
is a riskier proposition and advised
OFWs topool
just use
small part
the
savings
to aengage
in of
such
TradeExpress Asia
7
By BER PACHECO
Manila:
A city of history
and nostalgia
COMEBACKING Manila Mayor Alfredo Lim will have a big task to do
when he assumes office as chief executive of the country’s premier city.
One of these is the eradication of eye sores and pests found all over
Manila, particularly the sidewalks and streets which have been converted
as repair shops, wet market stalls and repository of vehicles by abusers the
past years. The commercial as well as residential areas of many districts of
Manila need a face lift such as the bay area in Roxas Boulevard, favorite
showcase of former mayor Lito Atienza. Fred Lim has to make good his
pronouncement to ban the sale and drinking of liquor and the staging of
unsavory shows along the boulevard in order to provide a wholesome and
safe enjoyment of the sunset and sea breeze by families and tourists.
If Manila is no longer the bustling business center it was before where
head offices of multinational companies were located, Manila can now be
renowned for its nostalgic history. One area that can be recreated as a
shopping and eating promenade for locals and tourists alike is the stretch
surrounding Escolta in Sta. Cruz district where historical landmarks such
as the Blessed Sacrament (Sta. Cruz) Church, the centuries-old San Agustin
Church, the San Sebastian Church which is the only steel church in Asia,
Jones Bridge, post war structures and buildings housing the offices of
prominent lawyers, business magnates, accounting firms, elite shops selling
expensive jewelries and items from Europe and China, made to order shoes
and bags, couturiers, gourmet eateries, Chinese restaurants (Rice Bowl,
etc) along Ongpin, apples, oranges and chestnuts by boxes and crates
along the streets of Juan Luna- all bring nostalgia to a true Manileno.
A cradle for learning, Manila boasts of many good and old schools
like the University of Santo Tomas built in 1611, older than Harvard
University in the U.S.; Colegio de San Juan de Letran where many great
Filipinos studied; Centro Escolar University and San Beda at Mendiola,
Sta. Isabel College along Taft Avenue, etc. Malacanang and its gardens
along the Pasig River is something to see. The vicinities of Divisoria and
Tondo are dotted with antiquated houses, churches and structures which
can be restored to former elegance and beauty. The old House of Congress
which is now the National Museum; Fort Santiago, Intramuros, Port Area,
the old bridges and many others are all part of a rich history that makes
Manila still stand out.
But in order to regain its former glory, Mayor Lim should have the
political will to remove all illegal city dwellers dirtying the waters and
streets of Manila, hazards to the peace and order because of drugs,
crimes, mendicancy and corruption prevailing in the administration of a
crowded city.
***
Some senators are riding on the issue of allowing Senator-elect Antonio
Trillanes to attend Senate sessions hoping that by supporting him, they
can get the nod of the 11 million Filipinos who voted for the detained
officer. Why not leave it to the court to handle the case and determine the
legal process on this controversial issue. The problem with some of our
senators is they like to get distracted instead of focusing on what they are
supposed to do as legislators.
***
Balanga City in the Province of Bataan will soon have a museum to be
put up by the He & She Club (HAS Club), a socio-civic association
organized in 1931 by then young professionals of Balanga, Bataan. For the
past many years, the club has done a lot in support of the town including
scholarships to deserving students and contributions for further
improvement of the city. Directors and officers of the club believe that a
museum will boost tourism and historical awareness not only for Balanga
but for the whole of Bataan which is considered a great historical place in
Philippine and world history. The leadership of HAS Club is appealing to all
Balanguenos all over, here and abroad, to donate and submit whatever
they may give (in cash or in kind such as artifacts, mementos, old photos
or paintings of the town and people, writings of historical facts and events)
to make the museum a reality.
***
Why did Secretary of Justice Raul Gonzalez clear Senator Gringo
Honasan of the rebellion case filed against him? Was it because of weak
evidence or for some other consideration? If they don’t have strong
evidence against Gringo, why even put a reward for his arrest then that put
to danger the lives of many soldiers? And how much money was spent to
arrest him – millions of pesos. What then is the real exchange deal for this?
***
Congressman Rolex Suplico admitted that he recommended to Finance
Secretary Margarito Teves the replacement of the Land Bank branch
manager in Iloilo which was not granted, the reason why he did not vote for
the latter’s confirmation. What a self serving and shallow reason for a
Congressman to approve or not approve a presidential appointee. So it is
no longer the qualification and capability that are scrutinized here but the
ability to satisfy the whims of the appointing power.
Some legislators believe they are already god just because they are
granted privileges by way of empowered committees – the privilege to do
or un-do people in position. They harass and embarrass without respect
for the dignity of the person, cowering for commissions and salivating for
money making projects. But looking at their own record as legislators, they
are not even ashamed to the people who voted for them that they cannot
show a single honest-to-goodness bill that they personally sponsored and
worked for to make a difference in the lives of their constituents.
lending practice.
OFWs who are interested to
have a copy of the investment and
amortization schedule worksheets
may e-mail Ted at edserrano2002@
yahoo.com. He explained that the
worksheet can serve as a “helpful
tool since an interested OFW can
(Turn to page 8)
LIFE
8 TradeExpress Asia
M USINGS
July 2-21, 2007
Happiness is ...
By DENN A. MENESES
Happiness resides not in
possessions, and not in gold;
happiness dwells in the soul.
- Democritus
HAPPINESS IS…
… A glass of milk and a jar of
cookies. And a good book to nuzzle
in a comfy chair on a rainy day. What
better way to appreciate bed weather
than be safely ensconced in one’s
own comfort zone with no worries
in the world other than what is at
arm’s length…the last cookie in the
cookie jar.
… A rendezvous at the spa.
Getting a foot scrub, a therapeutic
massage, an earth facial. Hanging
back at the sauna room, lingering at
the tub, thoroughly pampering the
body and relaxing the mind.
Indulging in a little extravagance,
giving in to a few spontaneous
cravings, freeing the wits from the
excruciating grind of day after day.
… A celebration. Cold cuts
and warm hugs. Wolf Blass and
Misty crooning. Sweet thoughts
and animated chats. Laughter,
bubbly and sparkling. Blowing
candles and sounding trumpets
amid people who mean the world.
Raising toasts and drinking to fond
wishes. Feeling brand new all over
again.
… A warm and fuzzy feeling. A
hug, a snuggle, a caress. The giddy
flush of a budding romance creeping
into our being. Sweet nothings that
bring a tingle in the spine, tender
mercies that make the senses run
wild.
… A joy ride. A spin around on
a carousel or the Ferris wheel. A
cruise on a river boat or a lake canoe.
A run across town on a bicycle
pedaling your heart away or piggybacking on a motorbike. A drive
along the countryside, taking in all
the specks of green and just letting
your hair fly with the wind. The joy
is indeed in the ride.
threatening to cloak our veneer with
… A makeover. A new hairdo,
a new wardrobe, a new strut, a new
attitude. Or a nose job, perhaps;
an implant where it matters, a slight
stretching of some facial muscles
(botox, anyone?), a nip here, a tuck
there – to boost one’s selfconfidence and stoke the ego a little.
Move over, old warts, here comes
the new and improved
neighborhood hottie!
… A bowl of hot chicken
broth. To drive away the bug of
affliction. A dose of gentle loving
care from people near and dear.
Bundling up in their safe,
affectionate embrace. Holding on
to the promise of better things to
come.
… A surprise. A pat in the back
for a job well done. A favor from a
friend. A smile from a stranger. A
compliment from someone we’ve
only just met. A card from out of
the blue. A poem written specially
for you.
HAPPINESS IS…
… Looking at old photographs. Reliving the little moments
of times gone by captured in living
color or in foggy black and white.
Scanning albums filled with cheerful
faces and familiar places in all their
glossy splendor. Summoning wistful
thoughts and dormant memories,
evoking fragments of time and space
that will never come again.
… Holding the hand of a child.
To make them feel safe when they’re
learning to make the first stride. To
make them feel protected when they
start to venture into the world
outside – kindergarten school,
Sunday church, the park, the mall,
the circus, the house next door.
When they decide to walk the walk,
talk the talk, make the break, go for
broke.
… Wiggling into an old pair of
jeans. And finding out that it still
fits. Ha! Doesn’t it pay to eat a little
and exercise a lot?
… Breaking a sweat. Taking
the time to stretch the limbs and flex
the muscles, to limber up and pump
adrenaline. Burning the dance floor
to the beat of rhythmic music till the
knees give in. Walking a mile in
rubber-soled shoes, briskly or
leisurely, till the heart beats a little
faster and the temple throbs a little
friskier.
… Walking barefoot. On the
seashore, on the grass, on the
pavement, around the house.
Touching the ground, rubbing
calloused feet on solid earth, feeling
cold stone or warm sand, treading
on damp lawn or soft rug, just gliding
along with a song and a smile in the
heart.
… Catching up on house
chores.
Fixing the closet,
rearranging the furniture, changing
the sheets, wiping soil off table
tops, sweeping away the cobwebs
that have been lingering in the
fringes of our nearly moldy
existence. Spring cleaning doesn’t
have to wait for the next winter.
… Catching up on our
reading. Devouring tomes that
have been lying unopened for years
gathering dust in the bookshelves.
Paperbacks yellowed with time,
pages brittled by indifference. Atlas
Shrugged, East of Eden, The Heart
Is A Lonely Hunter, Love In The
Time Of Cholera, The Book of Job…
… Learning a new skill. In the
kitchen concocting something other
than fried stuff – baking a cake,
whipping up the ideal pasta,
inventing dishes yummy enough to
show off. Or a hobby both relaxing
and productive – doing the crossstitch, surfing the Internet, taking
up photography, playing a musical
instrument, writing the movie in our
mind.
… Finding a friend. Meeting
new
acquaintances
and
reconnecting with old ones.
Basking in the excitement of getting
to know someone, roosting in the
affection of old but not wasted pals,
rekindling flames of long ago. The
gift of friendship is precious and few
like seconds shared to last through
intertwined lifetimes. Sure beats
staring at the clouds in your coffee
all day...
…. Finding what you’ve been
looking for. A lost piece from the
glory days, priceless no doubt
because of the sentiment attached
to it. A thing of value that we’ve
always wanted to have but couldn’t,
for one reason or another. A part of
our lives that’s been missing,
perhaps made nonexistent by choice
but more probably by circumstance,
traveling the distance but not really
knowing which way to go and what
we are actually in search of. A
material possession, an object of
desire, a purpose in life? One best
friend, one perfect moment, one true
love to last a lifetime?
Stretching
(From page 6)
play with it changing the monthly
investment amount, or the annual
interest rate, and the initial amount
— the worksheet will automatically
compute.”
The other avenue available is
investing in stocks, advising
workers to get blue chip stocks only
like Ayala, Meralco, Globe and San
Miguel. He says this is a much
riskier investment approach but may
be “lucrative in times of increasing
stock market value, like what we
have today.”
Because of the higher risk of
losing the capital base, the stock
market investment component
should be limited by the investor; a
good benchmark is a maximum of
20% of investment amount. They
may also inquire with bigger banks
on Mutual Fund investment; this is
less precarious but allows the
investor to take advantage of a big
fund manager’s ability to diversify
stock or investment portfolio –
instead of the OFW investing in
stocks on their own.
REAL ESTATE
July 2-21, 2007
ALTA VISTA
BORACAY
CONDOTEL
· Fully-furnished condotel units in Boracay
· Your choice of studios 45 sq m
· Or, Studio with Loft 62 sq m
· With spa, infinity pool, business center
· Cable TV & telephone lines
· Maintenance free (Hotel Operator does it)
· Prices Range from P3M to P4.5 M
·With income from hotel operations
2301 CIVIC PLACE
CONDO UNIT FOR SALE
*Civic Drive, Filinvest Corporate City, Alabang
*Ninth Floor Office/Home Studio unit, 36.41 sq m
*One toilet & bath, provision for kitchenette
*Walking distance to Festival Mall, short drive
to Ayala Town Center
*P3 M
TradeExpress Asia
The ultimate in city living
ST. FRANCIS TOWERS
at SHANGRI-LA PLACE
Beside EDSA Shangri-la Mall,
Mandaluyong City
Construction in full swing
First tower 90% sold
Delivery: December 2008
Second tower now on sale
Developer:
The Shang Grand Tower Corp.
A member of The Kuok Group
of Companies
For property preview:
TESS BIGORNIA (REBL No. 8418 R)
LAND TREASURES REALTY
Call 636-0646 or 0919-4099337
E-mail: land_treasures@yahoo.com
For inquiries, please call
JAYE FLORES GUINA
REBL No. 18989
Call 825-0108/827-4416/0917-6269800
CONDO UNIT
FOR SALE
THE MALAYAN PLAZA
Ortigas Center, Pasig City
55.6 sqm 1 bedroom with
balcony, walk-in closet.
Furnished. Ready for
occupancy. P4.5M (all-in)
Ownership comes with free
use of the swimming pool,
gym and lounge.
Walking distance to The
Podium and other
commercial establishments
9
FOR LEASE
COMMERCIAL LOT
ALONG AGUINALDO HIGHWAY
IN CAVITE
BAY GARDENS
2 BR PENTHOUSE FOR SALE
BRAND NEW UNIT
105 sqm
Dramatic view of sunset by the
bay and garden setting for a
relaxing lifestyle
Near Mall of Asia, CCP Complex
and Boardwalk
5-Star Grand Lobby and resortinspired swimming pool
Nice environment and wide open
spaces
Ideal for expats
(Other condo units available)
Broker: Land Treasures Realty
5/F Padilla Bldg., Emerald Ave.,
Ortigas Center, Pasig City
Tel: 636-0646 Cell: 0919-4099337
Your Broker
JAYE FLORES GUINA
REBL No. 18989
Call 825-0108/827-4416/0917-6269800
610 SQUARE METERS
IDEAL FOR FOOD CHAIN OUTLETS, DRUG STORES,
OTHER BUSINESS ESTABLISHMENTS
Contact 634-0270
WEST MEETS EAST MEETS WEST
Philippines to host world real estate expo
THE Philippines will host the
1st Asian International Real Estate
Expo & Conference (AIREEC) slated
from December 6 to 10, 2007 at the
Philippine International Convention
Center in Manila.
Organized by the US-based
Expo & Convention Promotion Inc.
(ECPI), AIREEC aims to set the stage
in launching a global real estate
industry, bringing together in one
venue professionals, investors,
developers, master planners,
bankers and end-users from around
the world. Over 50 countries are
expected to attend, each featuring
and showcasing their top-notch,
new and exciting investment
products and services in the real
estate market today.
This event unveils the
opportunity to network, learn new
trends, conclude deals, and build
ties between the East and the West.
As globalization escalates,
economies and societies around the
world evolve in unison with its
counterparts breaking cultural and
geographical barriers.
Asia, home to the world’s oldest
civilizations, is now generating
tremendous influence both
economically and politically. The
influx of professionals all over the
world, particularly in the real estate
industry, paves the way for change
and development in Asian
topography. Asia has not only been
a continent to see but a continent
to be in. There are now more
reasons to stay than merely to visit,
thus, making Asia the great
untapped real estate market.
Why participate at AIREEC?
1. Fastest and most effective
method for international marketing.
2. Over 10,000 estimated
attendees from around the world to
network and conclude deals.
3. More than 400 exhibiting
companies from over 50 countries.
4. International and local
B2B and B2C events.
5. Real estate, tourism,
services and theme events that
catalyze business matching and
interaction.
6. Meet key players in the
international real estate industry.
7. Expand your business in
Asia.
8. Establish closer links to
Asian and international authorities.
9. Forums, symposiums, and
discussions on issues that affect the
international real estate industry.
10. Major international real
estate project exhibitions.
The Department of Tourism is
endorsing support for AIREEC.
Secretary Joseph H. Durano states
that “it will promote the vast tourism
potential of the country.” He adds,
“It will also provide opportunities
for real estate investment, a very
important factor in shaping the
future of real estate in the tourism
industry of the Philippines.”
AIREEC is the brainchild of
Susan Barlin, a Filipino licensed real
estate broker based in Carson,
California, who has been in the real
estate business for the last 15 years.
She is a Certified International
Property Specialist who has visited
and established business ties with
various countries in the Asia-Pacific,
the Middle East, Europe, North and
South America.
Being Filipino, she chose
Manila to be the venue of the first
AIREEC. She enthused, “With the
meeting of the worlds, competition
has never been friendly. The best of
the best in the international real
estate are coming together in one
momentous event. What better way
than to be hosted by Asia’s land of
congenial smiles, the Philippines.”
Visit www.aireec.com or call
(632) 636-0646 for more info.
10 TradeExpress Asia
EVENTS
July 2-21, 2007
TRADE EXPRESS ASIA GOES TO
UE's congratulatory dinner for Manila Mayor Alfredo Lim
(From left) UE chairman P. O. Domingo, Vice President Noli De Castro, UE honorary chairman Lucio
C. Tan, Mayor Lim, UE president Ester A. Garcia and Public Attorney's Office Chief Persida RuedaAcosta join in singing the UE Hymn.
THEUNIVERSITY OF THE EAST hosted a congratulatory dinner in honor of Senator Alfredo S. Lim for
having been elected once again as mayor of the country's premier city. Lim, who is one of UE's 60
Outstanding Alumni (BBA'51/LLB '63), was cited by his Alma Mater for showing consistency in the high
caliber of his performance as a public servant, his personal integrity, and his strong advocacy of equality
before the law. The Board of Trustees lauded Lim for his triumph in the May 14 election despite meager
financial resources, signifying "a new dawn in Philippine politics, the restoration of civility in public
discourse, (and) the return of reason." The UE Alumni Association, on the other hand, expressed its
willingness to support the programs and projects of the mayor. The event was held June 8 at the Grand
Ballroom of Century Park Hotel and was attended by prominent graduates of the university, including
Lim's fellow outstanding alumni Vice President Noli De Castro. Photo on top shows Mayor Lim
receiving the citation from chairman and CEO P. O. Domingo (at rostrum) while executive vice president TradeExpress Asia publisher Samuel Senoren exchanges pleasantries with UE chairman P. O. Domingo
Carmelita Mateo, president Ester A. Garcia and trustee Wilson T. Young applaud. At photo above, Mayor (left photo) and marketing department executive director Jesus T. Tanchangco (right photo) who acted
Lim receives another citation from officers of the UE Alumni Association, Inc. led by its president as the evening's master of ceremonies.
Angelica Marquez (extreme right).
The forgotten
(From page 7)
which cause you to put freedom and
counted so much in helping to win independence as the first principles
your freedom and independence. in your plan for the future."
It had been said that the most
However faced with these
circumstances, you have made the eloquent speaker in those
choice of a strong rather than a weak ceremonies was Manuel Roxas, who
people. In effect, you have said you would be the first President of the
would rather be completely free and new Republic. I think not; I think
independent and the masters of your the pithiest speech was that
own fate and destiny, even though delivered by Paul V. McNutt, the
it entailed some economic hardship, last US high commissioner over the
than to be a subject people looking Commonwealth, the first US
to others to govern you even Ambassador to the Republic.
though in that status you might Extracts from his speech:
attain a higher plane of prosperity.
“The US determined a policy
We admire you for this confidence toward the Philippines new to the
in yourselves, and for the qualities world, a policy revolutionary in
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FOR SALE OR JOINT VENTURE
1.4 HECTARE TAGAYTAY FARM
Located at Barangay Neogan, Tagaytay City
Planted to pineapple and fruit-bearing trees
Please call 6340270/825-0108/ 827-4416
many of its
aspects, startling
in its implications.
Independence
was to be freely,
gladly given. The
military security of
the Philippines
against foreign
aggression of any
kind was to be
guaranteed. And
finally
the UE graduates three: (from left) Tito Varela, vice mayor of
economic needs Caloocan City; Gener Caringal, artistic director of Philippine
Ballet Theater; and movie director Elwood Perez.
for reconstruction,
rehabilitation and support were to gentle gift of freedom to a dependent
be met, at whatever cost.
people – both by the same nation:
“This decision was not arrived one action, an expression of limitless
at easily. It involved severe re- power: the other, a manifestation of
definitions of many American infinite understanding. This
policies. But the American contrast is the supreme triumph of
Congress and the American the forthcoming moment. The world
President saw clearly that the fate which sees these spectacles will, I
comprehend
their
of these 18,000,000 Filipinos was the know,
fate of democracy in the Pacific, and significance. I have never been
that the successful establishment prouder to be an American. The
of a prosperous realm of freedom in 18,000,000 people of these Islands,
the Orient would raise the hopes of who are for these swift fleeting
seconds still American nationals, are
millions in the Far East.
“This is the result. Today is the proud of us, too. They share in our
climax of that gathering of hopes glory.
“The US, mighty in its new
and aspirations and convictions. In
a few moments this will be an consciousness of power, but
independent republic, like our very humble in its exercise, has
own conceived in liberty, with a underwritten the security of the
government like our own, of the Philippine Republic. This is not
people and for the people. Just as done in the expectation of reward or
the Magna Carta came to us from concession. This is not done
our British forbears, our Declaration because of imperialistic interest in
of Independence, our Constitution, this part of the world. Our only
and our Bill of Rights have become interest is the protection of the rights
the priceless heritage of the Filipino of peoples to work out their destiny
in peace and security, in freedom and
people.
“Within the short space of 40 dignity."
Then stood, tall and straight,
days the eyes of the world will have
seen in the Pacific the rending Manuel Roxas, president of a
impact of the atom bomb and the Philippines free at last:
Mayor Lim addresses the audience of
more than 500 UE alumni.
“From this day forward our
international responsibility is
absolute. As we are the masters of
our own destiny, so too we must
bear all the consequences of our
actions. If we surmount the
difficulties that beset us, if we
conquer the obstacles which bar
our way, our people will grow great
in the eyes of men. But if we strut
with false pride upon the world
stage, if we berate with bombast our
friends and benefactors, if we lend,
for reasons of political expediency,
comfort and encouragement to the
enemies of peace and freedom, if
we invite poverty, chaos and
disorder to inhabit our land, we will
break faith with our noble past and
imperil our national future…
“No longer are we protected
by the mantle of American
sovereignty. No longer can we look
to America to shield us from follies
or excesses. Our period of
apprenticeship is past. We are an
adult in the council of nations. Our
decisions must be gravely made;
they will be gravely judged. Our
wartime heroism has commanded
the respect of the world. We dare
not sacrifice that respect…"
STYLE
July 2-21, 2007
TradeExpress Asia 11
STYLE SPEAK
The effects of good statistics on business
By
MARITESS G. CONCEPCION
! Yes, there’s a slight
improvement in our sales volume.
! No, it may even decrease
because our clients are experiencing
a growth plateau.
! No, it doesn’t have any effect
at all.
! I am generally not pleased
with the way it’s going. The
government
should
exert
gargantuan measures to attract
foreign investors. It will definitely
be a boon to our economy.
— Ariel Rivera
Entrepreneur
Muntinlupa City
AS a business person, I find it
really encouraging that the
economic figures I get to read in the
newspapers are on the positive side.
They give people in business some
kind of a new high and prod them to
sell more if they are in trading, or
produce more if they are in
manufacturing, and so on.
Official economic statistics
show that the Philippine economy
has shown signs of significant
growth after ending 2006 with a
growth rate of 5.4 percent. During
the first quarter of this year,
economic growth was recorded at
! Yes, there has been some
improvement in our business during
the past year. As property managers,
we noticed that more offices spaces
were being leased by new companies
or those expanding their operations.
! I expect the same trend to
continue this year and next year.
! Not directly. We have clients
who are expats or relatives of OFWs
who earn in dollars and yes, they
get fewer pesos for their dollars. But
so far, they have not yet complained.
! So far so good. I just wish
that government regulators will be
more considerate and honest in
dealing with businesses so that we
will be encouraged to pay our taxes
properly and promptly.
! Yes. Our company has signed
more contracts on industrial
construction
projects
for
manufacturing concerns.
! Yes. I expect the same this year
because of the positive perception
on the general economic trends.
! No. We don’t depend on
imported raw materials. Our
company, for more than 30 years in
the business, deals with high
professional
services
on
engineering, architectural, design,
research and development.
! Things could be better. The
government should address more
efficient and competent delivery of
services. I look forward to the time
when there is less harassment and
corruption from government
regulators and enforcers.
— Engr. Rodolfo N. Ferrer
President
RNFerrer & Associates Inc
As for myself, I can say that
indeed there had been some
improvement in our business during
the past year, although not as big
compared to the late 90s. Sales
improved and business continued
to be viable.
Definitely, I expect the same
trend to continue this year and
hopefully even pick up during the
last quarter of the year. As an
importer, the appreciation of the
peso did help in bringing costs
down resulting in better prices for
our products.
In general, to help improve the
business climate, I think the
government and its bureaucrats
should make it easier for business
people to operate rather than make
things difficult for them. In other
countries, government people go
out of their way to help
businessmen, and I wish the same
attitude will prevail in our
bureaucracy.
6.9 percent and economists are
optimistic that the momentum will
be sustained for the rest of the year.
Other key economic indicators
are also on the positive side with
the inflation rate at just 2.7 percent
in the first quarter, lending rates in
the range of 9 percent and the
foreign exchange rate at P46 or lower.
Some sectors however think
that the positive economic
developments have not really
trickled down to the bulk of the
population. In terms of market size,
this means that there is still more
room for people to absorb
— Josephine Guina
Property Consultant
Makati City
! Yes. We have experienced an
improvement in our business in
terms of higher sales. At the end of
each year. We set a certain realistic
growth target for the incoming year
and so far, for the last six months,
that goal has been achieved.
! Yes. Or should I say, we hope
so. Our business involves mostly
transacting with the government on
a daily basis. Now that the elections
are over, the government can
concentrate on the improvement of
their systems and procedures that
can result to a more conducive or
friendlier environment for our line
of business.
! Definitely yes. Our clients are
importers and exporters. A stronger
production if only the benefits of
an economic upswing reach them.
Understandably, a potentially
bigger market translates to more
opportunities for business people,
especially
the
creative
entrepreneurs.
I talked to a number of them to
get their views on how the
economic figures relate to their
business or how they influence their
business outlook.
My questions:
! Have you experienced
significant improvement in your
business during the past year? In
! Yes. We had some
improvement in our sales, especially
in our turf which is the VisayasMindanao area.
!Definitely. With a low inflation
rate and more purchasing power, we
expect consumers to continue
patronizing our products.
! Normally, we would welcome
the appreciation of the peso
because it would make the cost of
our imports less expensive.
However, in our industry we noticed
that the cost of our imports at source
also increased due to a similar
appreciation in the currency of the
exporting country. In the end, our
costs come out just even.
! Hopefully, we should see
more improvements for our industry
in the coming months. We also hope
peso equates to bigger profits for
them or lower landed costs for their
commodities. Lower land costs
would mean that they can compete
what way? (e.g. higher sales,
improved profits, increased
productivity, etc.)
! Do you expect the same trend
this year? If not, why not?
! Has the appreciation of the
peso against the US dollar affected
your business? In what way?
! Are you satisfied with the way
things are going for you and your
business? If not, what areas of
concern should be addressed by the
government to help you improve
your business?
Their answers:
that our industry is subjected to less
red tape since we are among the
biggest taxpayers in the country.
— Felix Tiukinhoy Jr.
President
Phil. Assn. of Meat Processors
better in the market, that can equate
to higher sales. Higher sales would
mean a need for higher inventories
which would mean a need to import
or export more.
! Generally, yes. It is common
knowledge that one needs the
patience of a monk to transact with
the government. Government
agencies need to reassess their
systems and procedures to allow for
a faster movement of paperwork that
will lead to lesser expenses for us
and our clients.
— Ma. Lourdes Ollero
Vice President
Cargo Logistics Overseers Inc.
TORRES HIGH SCHOOL CLASS '74 REUNION
The Torres High School Class of ’74 will hold a grand reunion on
February 23-24, 2008 in Metro Manila.
All graduates of Batch ’74 are enjoined to attend this once-in-alifetime gathering of not-so-old classmates reliving not-so-long-ago
memories.
For details, contact the Secretariat in Manila thru Maritess Guina
(maritess_guina@yahoo.com) at telephones 6340270, 6340273 or
6341969.
BILLION DOLLAR INVESTMENT FROM TEXAS INSTRUMENTS
Texas Instruments which currently operates a plant in Baguio City plans to put up an expansion project at the Clark
Freeport Zone in Pampanga at a cost of $1 billion. The project will provide additional jobs for 3,000 people. Shown
briefing President Arroyo is Kevin Ritchie, TI senior vice president for technology and manufacturing.
12
TradeExpress Asia
July 2-21, 2007
What makes a hot
Bollywood movie?
By PANKAJ TANEJA in CHANDIGARH
BOLLYWOOD — the world's biggest film
producer., churning out thousands of movies
hugely popular across Asia and the Middle
East. Adore it or despise it, but one can’t
ignore it, for it is undoubtedly an inseparable
part of the paradox that is “India “.
Huge movie posters are splashed on
every wall of every city, town and village; on
every tuk-tuk, bus and rickshaw; and movie
soundtracks blare every other hour from
passing cars, restaurants, and roadside stalls.
Youngsters grow up idolizing and
worshipping Bollywood mega stars,
inadvertently emulating them. Many a
teenager’s gait will have the Sanjay Dutt stoop
or the Sunny Deol swagger, many a young
man’s hairstyle will sport the Anil Kapoor puff
or the Akshay Kumar slick, and many a
starstruck fellow’s words will carry the
Sharukh Khan stutter or the Amitabh
whisper.
The word “Bollywood” is a juxtaposition
of the words “Bombay” (now known as
Mumbai), its home base, and “Hollywood”.
But it would be wrong to consider Bollywood
a clone of its Western namesake. It has a
unique identity completely its own – its own
richness, color, absurdities and excesses "masala", it is called.
“Extravaganza” is an apt description for
Bollywood movies as the makers certainly
spare no effort in creating a gut wrenching,
mind dizzying, tear jerking and emotionally
sapping experience. Romance, comedy,
action, (melo)drama, tragedy, suspense, all
(Return to page 4)
REP. PROSPERO 'BUTCH' PICHAY, JR.