Rating Upgrade on Philippine Shares...

HONG KONG: The Philippines could attract more capital inflows after winning its first-ever investment grade rating, but any boost to local bonds, stocks or the peso currency is likely to be mild for now, investors and analysts say.

Fitch Ratings raised the Philippines' sovereign rating by one notch to BBB, noting that a persistent current account surplus underpinned by remittance inflows has helped the country become a net external creditor.

But while the upgrade is widely seen as positive for Philippine assets, expectations for a ratings upgrade have already been built into markets, limiting the scope for further gains.

Moreover, either Moody's or Standard & Poor's will likely have to upgrade their ratings on the Philippines as well to spur major inflows from overseas investors who are only allowed to hold investment grade assets.

The influential JPMorgan Asia credit index (JACI) requires that for a bond to be classified as investment grade, it should be rated investment grade by either Moody's or S&P. JPMorgan does not take Fitch into account when categorising bonds.

“There is no big impact at the moment since most index providers require upgrades to investment grade from two agencies for inclusion in their investment grade indices,” said Joep Huntjens, a fund manager for ING in Singapore.

“There could be some technical support if another agency upgrades Philippines, but looking at the valuation of the bonds, much of that has been priced in already,” Huntjens said, adding that at least one more rating agency was likely to upgrade the Philippines this year.

“We think there is some room for spread compression in the sovereign linked entities and banks in Philippines, less so in the sovereign,” he added.

Philippine sovereign bond prices rose 25 to 75 cents after the Fitch move on Wednesday while stocks briefly hit a record high. Local markets were closed yesterday for the long Easter holiday and trading will not resume until Monday.

Reflecting how strongly the upgrade expectations have been priced into markets already, long dated Philippine sovereign bonds are trading with a yield spread of just 92 basis points over 30-year US Treasuries, compared to 185 basis points for Indonesian bonds.

The impact on equities could be limited as well, as some market watchers think valuations are already stretched after the benchmark index rallied 18% in the first quarter.

“The Philippines is overrated and overextended and overowned like Indonesia and Thailand... there is serious potential for correction,” said David O'Neil, chief investment office at Asean Investment Management in Hong Kong.

At 16.9 times forward 12 months earnings, it is the priciest market in the Asia-Pacific region. Versus its own past, the MSCI Philippines index is trading at a 42% premium to its 10 years forward median PE.

“All the ducks are in line. You can't expect anything to happen there now,” said Homiyar Vasania, former MD of Morgan Stanley Investment management and founder of River Valley Asset management. “In Philippines, everything looks very good... The actual numbers look very good for the last five years. But whenever they look very good, whenever all the ducks are exactly aligned, you normally have a problem,” Vasania added.

Judging from past episodes of credit rating upgrades to investment grades in the past decade, the impact on Philippine shares could prove short-lived, Michael Wan, an analyst for Credit Suisse in Singapore, said in a research note. Reuters

(Resource: The Star ONLINE)

The Weather Right Now in my Surroundings

 

IT'S SUMMER IN THE PHILIPPINES!

ES IST SOMMER AUF DEN PHILIPPINEN!

Happy Easter! Frohe Ostern!

A Blessed and Happy Easter to all of you my dear readers!

Ein gesegnetes und frohes Osterfest fuer Sie alle, meine lieben Leserinnen und Leser.

I love The Philippines/Ich liebe die Philippinen

I never regretted to come here and to stay for good as an expatriate ...
Ich habe es niemals bereut, hierher zu kommen und fuer immer als Auswanderer zu leben...

German Language a Must for Pinoy Nurses

Filipino nurses who plan to seek work in Germany must learn the German language first.

In an interview on Friday, Labor Secretary Rosalinda Baldoz said Filipino nurses should  familiarize themselves with the German language and German culture first if they plan to work there.

"They (German officials) are the ones who came to us, and the EU knows our concern about brain drain and based on our official statements, we have an oversupply of nurses here and the EU is now preparing for more demand [for health care workers]  so Germany now wants to recruit Filipino nurses," she said.

However, a Filipino nurse must have German "language proficiency and cultural [awareness]"  as these are  among the requirements for employment.

Japan has also imposed the same requirement in hiring Filipino nurses.
Baldoz added that the DOLE and its German counterpart are still finalizing the text of the agreement regarding the hiring of Filipino nurses in Germany and that the agreement is expected to be signed Tuesday, March 19.

Philippine Opera Company

The members of the Philippine Opera Company’s Young Artists group

MANILA, Philippines - After a successful first season, The Philippine Opera Company presents the Young Artists Series Black Box event on March 20, 6:30 p.m., at the Opera Haus with Elite.

In the theater the term Black Box refers to a devoted space where daring experiments and new visions are tested through performance. Performers who choose to go and perform in a black box are usually the ones with most open hearts and sincere desires to hone their talent.

Last January, the Philippine Opera Company hosted a “Black Box” affair for its Young Artists Series (YAS). The YAS started in October 2012, as a soiree every third Wednesday of the month featuring the Young Artists of the Opera Company. After the success of the first two events, artistic director Karla Gutierrez and artist-in-residence, mezzo soprano Clarissa Ocampo, decided to enhance the program by engaging the artists in more creative work and perform scenes from various operas, as well as, musical theater pieces that have crossed over into the classical arena. What makes this event different from the rest is the challenge given to the young artists to hone and develop their artistry by giving them the opportunity to stage their own scenes. To assist and mentor these artists, POC invited several established and well-known directors in the theater industry.

The Philippine Opera Company closes the series by putting the spotlight on their best and strongest Young Artists. An “Elite” YASer is a Young Artist who exemplifies attributes of a world-class artist and musician. They possess exceptional vocal prowess and unmatchable performances throughout the YAS season. These artists will perform Opera scenes from Bellini’s I Capuletti ed I Montecchi, Leoncavallo’s Pagliacci, Gounod’s Faust, Mozart’s Le Nozze di Figaro, Poulenc’s La Voix Humaine, Delibe’s Lakme and Verdi’s La Traviata.

The show features Gabriel Panlilio, Marian Santiago, Twinkle Prietos, Lara Maigue, Ellrica Laguardia, Lena McKenzie, Cris Go, Al Gatmaitan, Lawrence Jatayna, Janine Santos, Joseleo Logdat and Clarissa Ocampo with surprise guests.

For inquiries, call the Philippine Opera Company at 822-9609 or 0917-5272880.

Diving in The Philippines (II)

The Philippines are one of my favorite places to go for diving. You will find everything a diver wants. From steep coral walls in Balicasag and Cabilao to underwater mounds with sharks at Malapascua, muck diving of the best in Negros and a bay full of wrecks in Busuanga. Current swept islands like Apo, Apo Reef and Tubbataha with large fish or gentle slopes around Siquijor - the Philippines has everything to your hearts content!
I have been there seven times for extensive diving. I have compiled many pages of information, tips about dive areas, descriptions and maps of dive sites and liveaboards, photos of the underwater animals you will find there, and much more.- Teresa Zubi.
www.starfish.ch

Valerie Taylor, passionate diver and book author wrote 1982:

"The Philippines is today one of the richest marine areas I have ever seen. I remember clearly my first trip there. Many marine creatures I have seen only once. Some specimens new to science, others uncommon in our waters... . The mother of all living things, nature's ultimate gift, yet we destroy its treasures, pollute its purity, rape its abundance, ignoring the warnings of approaching disasters, for already it is dying and the life it supports it with."

Remember, she wrote this 1982. How looks marine life today? Divers can tell you...

Diving in The Philippines

Angelica Panganiban Named Top Comedy Actress

Angelica Pangaiban won the Outstanding Performance by an Actress award in a Gag or Comedian Program for the show "Banana Split" in the Entertainment Press Society Golden Screen TV Awards. She first received this award in 2011 for thr same show. Angelica also appears in the newly launched "Banana Nite", the nightly serving of the gag show where they feature new gags and talents. "Banana Nite" airs Monday to Thursday after "Bandila" on ABS-CBN.

Compostela Valley Celebrates its 15th Year

by Grace Almedilla

COMPOSTELA VALLEY PROVINCE-----Opened with a Thanksgiving Mass celebrated by Bishop Wilfredo D. Manlapaz, the Comvalenyos are thankful that the province stands still despite of the experienced trials.

In her remarks during the Foundation Day Program, Congresswoman Maria Carmen Zamora pointed out that the significant event is a realization that indeed Comvalenyos draw strength from each other and moving on is not impossible having each other.

Governor Arturo T. Uy with a grateful heart expressed his deep appreciation to everybody, for through thick and thin, they are there in the province’s journey supporting each other.

An USWAG Gawad Kalinga Raffle Draw followed with exciting prizes for the lucky winners (a brand new 4x2 Pick-Up, Yamaha YBRs, Honda Scooters, Samsung Galaxy III Cellular Phones, and Samsung Tab units).

Announcing that the world is also celebrating today the Women’s Day, Governor Uy, Congresswoman Zamora, Congressman Rommel Amatong, and the Province Sports Consultant Tyrone Uy entertained the crowd with their talents in singing and dancing.

A game variety show was also conducted in the afternoon dubbed as “Gov Time, Big Time” actively participated by the Municipal and Barangay Officials of ComVal’s eleven municipalities.

Another highlight of the day’s celebration was the Memorandum of Agreement (MOA) Signing of rehabilitation projects and turn-over of checks as agriculture interventions of the Department of Agriculture (DA) in support to the Tindog ComVal Movement. 

These interventions include: assistance to Cacao Rehabilitation Program in partnership with Kennemer Foods, Inc. amounting to P13,125,000 in the form of seedlings, fertilizers, and cash for work training;   assistance to Coffee Rehabilitation Program worth P3,200,000 also in the form of seedlings, fertilizers, and cash for work training in partnership with Nestle Philippines;  P21,850,000 intervention for Banana Rehabilitation;  P3,000,000 worth of rubber seedlings for Laak;   P4,466,535 farm machineries & equipment for sustainable Rice Recovery Program;  P1.2 Million Farm Tractor for Corn Program;  P1.4 Million for the rehabilitation of Deep Well & Spring Development at Pasian, Monkayo and;  P1,518,307.09 Mini-Warehouse for Rice Program in Mawab.

These interventions from DA under the High Value Commercial Crops Development Program through the Office of Agriculture Secretary Proceso J. Alcala and Director Remelyn R. Recoter of DA-XI Field Unit totalled to P49,709,842.  (grace almedilla, ids-comval)

Bakla, the Third Sex in The Philippines

1

What could be the reason for the presence of so many Bakla in the Philippines?
To me it looks if there are more than ever before. I visited the Philippines for the first time 25 years ago and I live here now almost 5 years. To me it seems that the number of Bakla is growing by the year. In this article from my Dutch friend Dan can you get some answers:

www.expatinthephilippines.com

3 Philippine Men Guilty of Importing Weapons to US

Here is more about it:

3 Philippine Men Guilty of Importing Weapons to US - ABC News

Take you to the Philippines- Philippine Music Video

PALAWAN - EL Nido - One of the Most Beautiful Places in the Philippines

Bulawan Festival

Philippine Politics

On May 13, 2013, Filipino voters will troop to the polls to elect their candidate of choice and fill a total of 18,022 government positions. In Philippine politics the upcoming mid-term elections is a democratic process designed to fill soon to be vacated local and national positions including 12 seats in the Philippine Senate and 229 seats in the House of Representatives.

On the provincial level, 80 governors and vice-governors will be elected and with them 766 members of the Provincial Board. A total of 1,634 mayors and vice-mayors are needed by local government units (LGUs) nationwide, and a total of 13,504 councilors. The ARMM requires a governor and a vice-governor and two dozen assemblymen.

Familiar names

It is perhaps not surprising that candidates, especially in the municipality and city levels bear familiar names. Many of the hopefuls are relatives or descendants of known or incumbent politicians. Grace Poe-Llamanzares is an independent candidate running for the Senate. She is the daughter of Fernando Poe, Jr. (better known as FPJ), a revered actor who ran against former President Gloria Macapagal Arroyo (GMA). There are still claims that FPJ won the election against GMA in 2004 and Grace Poe is counting on fans and supporters of her father for her own bid, no doubt.

The senatorial race is characterized by other familiar names in the political scene of the past two decades, most notable of which are Angara, Aquino, Binay, Cayetano, Cojuangco, Ejercito, Magsaysay, Pimentel, Villar and Enrile. Jack Enrile, the son of current Senate President Juan Ponce Enrile is running for the Senate.

They call it clan politics or traditional politics. Some use the term political dynasties. No matter what the preferred terminology is, the fact is that powerful families continue to dominate not just the national political scene but the local scene as well.

A published study in the Philippine Political Science Journal states that the 15th Philippine Congress is 70% dynastic. About 80% of the members of the Congress aged 26-40 come from political families. Similarly, political parties are dominated by political clans with ancestors and a progeny of prominent families dominating the roll call. The same study positively correlates political dynasties in areas with severe poverty and poor development. The study does not claim to be absolutely valid, but the results still reflect the current situation. And there seems to be no respite from clan politics since the newly rich and newly elected are already planting the seeds of their own dynasties.

Those who doubt the validity of the dominance of clan politics should look at the incumbent officials occupying provincial and municipal seats in Ilocos Sur, Pampanga, and Cavite (in Luzon), Cebu and Siquijor (in the Visayas), Zamboanga, and Maguindanao (in Mindanao).

Familiar faces

There were a few surprises when celebrities rumored to launch their political careers did not actually file for candidacy. Some of the best examples are TV show host Vic Sotto, actor-director Cesar Montano and actor-turned 2010 Vice-Presidentialial Candidate Edu Manzano. But there are enough familiar faces running for office that even showbiz talk shows and variety shows have more than the usual tinge of political color since the campaign period started.

Most of the personalities from show business have been in politics for so long that people remember them more for their political activities than the movies or television shows that they used to star in. There’s former President and Philippine cinema legend Joseph Estrada (popularly known as Erap), Laguna Governor “George Estregan, Jr. (award-winning character actor),” Bulacan Vice-Governor Daniel Fernando (former sexy star), incumbent Vice-Mayor of Manila Isko Moreno (dramatic actor), incumbent Mayor of Quezon City Herbert Bautista (comedian), and Paranaque City Councilor Alma Moreno (TV show host and dance diva), and Quezon City Councilor Aiko Melendez (dramatic actress), to name a few. All these familiar faces are running for office this year.

Estrada is bidding for the Mayoralty of Manila against incumbent Mayor Alfredo Lim who is in real trouble if Erap’s mass appeal has not waned. Estrada was elected the 13th President of the Republic of the Philippines. He also served as Mayor (City of San Juan), Senator, and Vice-President. He was found guilty of plunder charges and sentenced to reclusion perpetua in 2007. After the former President GMA (who is now under hospital arrest for election sabotage) granted Estrada executive clemency, he ran in the 2010 presidential race and lost. Now, he’s back on center stage, but he chose a smaller arena—the City of Manila (from President to Mayor at that).

Vilma Santos (another Philippine cinema legend and wife of Senator Ralph Recto) is hoping for another majority vote as Batangas Governor, and rumor has it that the opposition backed out of the game. Congressman and world boxing champion Manny “Pacman” Pacquiao is back in the political ring vying for the same post. And his wife, Jinkee is now running as Vice-Governor of Sarangani.

With clan politics dominating the local and national scene and actors and actresses delving deeper and deeper into politics, we can only surmise that this is going to be a colorful, intriguing, and controversial election year.

(Taken from PHILIPPINE DAY NEWS).