Tag: Pinoy

Global scandal of USAID exposed!

Global scandal of USAID exposed!

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The United States Agency for International Development (USAID) – the independent agency of the American government responsible for administering civilian and foreign aid – was exposed big-time by the Trump administration revealing a growing list of overseas projects funded by American taxpayers’ money.

These projects were approved by the failed Biden-Harris administration and a lot of them are related with the toxic DEI (Diversity, Equity and Inclusion) and woke principles of the Satanic Left which explains why the Democrats are angry and outraged now.

To put things into perspective, posted below is the Sky News Australia news video plus the related news report (some parts in boldface)…

White House Press Secretary Karoline Leavitt has blasted the United States Agency for International Development for having “insane priorities”.

USAID was formed in the early 1960s to administer humanitarian aid programmes on behalf of the United States government around the world.

The United States spent around $US68 billion on international aid in 2023, according to government data. Ms Leavitt publicly took aim at the agency’s Diversity, Equity and Inclusion projects.

Some of the projects listed included $1.5 million to advance DEI in Serbia’s workplace, $70,000 for a production of a DEI Musical in Ireland, $47,000 for a transgender opera in Colombia and $32,000 for a transgender comic book in Peru.

For the newcomers reading this, USAID was founded in the 1960s which was the result of US Congress approving the Foreign Assistance Act in 1961 which mandated the agency’s creation and was followed with the executive order of then US President John F. Kennedy.

Going back to the USAID scandal, it is one thing for America to come up with taxpayer-funded overseas projects to help foreigners, it is completely another thing to have projects that emphasized the Satanic Leftist ideologies. Seriously, does the $32,000 for a transgender comic book in Peru and the $70,000 for a DEI musical production in Ireland have anything relevant with USAID’s traditional purposes of disaster relief, poverty relief, bilateral interests and socioeconomic development. USAID was also abused by the Democrats to fund Leftist news media outlets as well. For more insight, watch the videos below.

But there is still a lot more! The list of questionable overseas projects funded by USAID continues to grow and it includes funding for terrorism, contraception, opium growth, sex change and more. Posted below is the excerpt from the CBN News story (some parts in boldface).

Senator Joni Ernst (R-Iowa) published another list of projects and programs she says the agency has funded over the years until DOGE stepped in.

“From funneling tax dollars to risky research in Wuhan to sending Ukrainians to Paris Fashion Week, USAID is one of the worst offenders of waste in Washington… all around the world,” Ernst posted to X this week.

The Iowa senator gave more detail in a thread noting the organization spent millions on wasteful projects including:

*    “A whopping $20 million to create a Sesame Street in Iraq

*    $2 million for Moroccan pottery classes and promotion

*    $2 million promoting tourism to Lebanon

*    More than $9 million of USAID’s ‘humanitarian aid’ intended to feed civilians in Syria ended up in the hands of violent terrorists, including an affiliate of Al Qaeda in Iraq.“

Ernst points out that millions of dollars were sent to farmers in Afghanistan to get them to grow food crops instead of opium.

“The results: opium poppy cultivation across the country nearly doubled, according to the U.N.,” Ernst wrote.

“USAID has long been a reckless, out-of-control, unaccountable rogue agency,” she concluded. “USAID has failed to put the American people first and routinely tried to cloak its actions in secrecy. Those days are over.“

A White House fact sheet also contends that American taxpayer dollars were inadvertently used to fund terrorism.

It notes:

*    As much as $10 million was used by an al Qaeda-linked group for meals.

*  $78,000 to a non-profit linked to designated terrorist organizations including Pakistan’s Falah-e-Insaniat Foundation — even after an inspector general launched an investigation.

*  $15 million in taxpayer funds to Taliban-controlled Afghanistan to help distribute ‘oral contraceptives and condoms.’

The fact sheet lists millions of dollars in additional wasteful spending, including:

*    $6 million was used to fund tourism in Egypt

*    $2.5 million for electric vehicles for Vietnam

*   $1.5 million to ‘advance diversity equity and inclusion in Serbia’s workplaces and business communities.’

Here in my native Philippines, there were several projects and recipients of USAID as reported by the Philippine Star. Environmental – check, health – check, assistance for LGBT – check, a mural painting event – check.

Thank the Lord for the return of US President Donald Trump whose administration has been working hard to restore dignity and meritocracy in America. The Trump administration is focused on wiping away the Democrats’ corruption and waste of taxpayers’ funds.

Let me end this piece by asking you readers: What is your reaction to the USAID scandal? Did your local government participate in any USAID-related projects that were done locally in recent years? Are you tired of seeing wokeness, Leftist and DEI being emphasized in USAID projects that were launched during the years of the failed Biden-Harris administration? Do you think USAID should be abolished and the countries that benefited from it should move on and launch their own projects to help their respective people independently?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

More than 400 Barangay Pamplona Dos residents avail of health services from Las Piñas City caravan

More than 400 Barangay Pamplona Dos residents avail of health services from Las Piñas City caravan

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Recently in the City of Las Piñas, over four hundred residents of Barangay Pamplona Dos got served with health services by the Health and Wellness Caravan, the City Government announced via social media.

To put things in perspective, posted below is an excerpt from the social media announcement. Some parts in boldface…

The Las Piñas Health and Wellness Caravan was held at the Sterling Life Homes Covered Court in Pamplona Dos on Thursday, January 23, bringing essential health services to nearly 400 residents. The initiative, spearheaded by the City Health Office, continues to emphasize accessible healthcare and community well-being.

Attendees availed of free medical consultations, dental services, cholesterol and blood sugar screenings, chest X-rays, ECG tests, and pneumonia vaccinations for senior citizens. Other services included the distribution of free medicines, assistance with PhilHealth registration, and the Green Card program. Nutrition counseling and non-communicable disease risk assessments were also offered, ensuring comprehensive healthcare support.

City Health Office head Dr. Juliana Gonzalez underscored the importance of preventive care, highlighting how early detection and proactive health measures can significantly improve the quality of life for residents. Her guidance emphasized the value of these caravans in promoting healthier communities across Las Piñas.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Do you know when will the Health and Wellness Caravan arrive in your local community this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Warrantless arrest of vote-buyers and sellers included in new COMELEC resolution for 2025 elections

Warrantless arrest of vote-buyers and sellers included in new COMELEC resolution for 2025 elections

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Anyone who gets caught selling or buying votes in connection with the National and Local elections this year will get into trouble as the Commission on Elections (COMELEC) recently issued a resolution monitoring such activities and warrantless arrests will be allowed, according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the news report of GMA. Some parts in boldface…

The Commission on Elections (COMELEC) has issued a resolution allowing law enforcement to arrest vote buyers and sellers without a warrant if they are caught in the act.

According to Sandra Aguinaldo’s report on “24 Oras,” Resolution No. 11104 will expand the authority of the poll body’s Committee on Kontra-Bigay” to monitor vote buying and selling in Eleksyon 2025.

The resolution allows a law enforcer to make a warrantless arrest if he or she witnessed an act or attempt to commit election offenses.

“Any law enforcement officer may, without a warrant, arrest a person when, in his or her presence, the person to be arrested has committed, is actually committing, or is attempting to commit the election offense of vote-buying and vote-selling or act constituting ASR (abuse of state resources),” the resolution read.

The arrested individual will be brought to the nearest police station.

Meanwhile, the materials used in vote buying or selling will be under the custody of the police.

“The money or any other goods of value, sample ballots and any other campaign materials used for vote-buying and vote-selling, and ASR, shall be immediately seized and taken into custody by the apprehending law enforcement officer,” the resolution added.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the newest resolution by the COMELEC will be effective in preserving the integrity of the national and local elections scheduled for May 2025? Do you think the inclusion of warrantless arrests will deter the buyers and sellers of votes?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Economy of the Philippines grew by 5.6% in 2024

Economy of the Philippines grew by 5.6% in 2024

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The economic growth of the Philippines for the year 2024 has officially been declared by national authorities at 5.6%, according to a Philippine News Agency (PNA) news article (which itself emphasized 2024 4th quarter economic growth of 5.2%). By comparison, the national economy grew by 7.6% in 2022 and 5.6% in 2023.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

The Philippines was the third highest-growing economy in the region in the fourth quarter of last year despite the impacts of geopolitical tensions and the series of typhoons that hit the country.

Philippine economic growth settled at 5.2 percent in the fourth quarter of 2024, bringing the full-year economic growth to 5.6 percent.

“While this falls short of our target of 6.0 to 6.5 percent, we are positioned as the third fastest-growing economy in the region, trailing Vietnam (7.5 percent) and China (5.4 percent) but outpacing Malaysia (4.8 percent),” National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon said in a briefing Thursday.

Edillon said the country faced numerous setbacks like extreme weather events, geopolitical tensions, and subdued global demand.

“While some challenges affect the entire economy, others exert pressure on specific sectors. Consequently, our economic performance in 2024 hinged on the impact of these factors on various sectors and whether we can mitigate the negative effects or enable a swift recovery,” said Edillon.

Last year, economic growth was mainly driven by the industry and services sectors.

National Statistician Dennis Mapa said that among the major economic sectors, industry and services grew by 5.6 percent and 6.7 percent, respectively, last year.

Growth in the manufacturing sector, however, was hampered by subdued global due to geopolitical tensions and the slow recovery of advanced economies. Agriculture, forestry, and fishing declined by 1.6 percent.

Edillon said the six typhoons that hit the country in the fourth quarter, caused disruptions in crop production, livestock, and fisheries. On the demand side, household final consumption expenditure expanded by 4.8 percent.

“During the fourth quarter, we had a succession of typhoons again in October until mid-November and this dampened the growth momentum and travel plans. Although we did see that there was increased spending on travel, transport, recreation and culture but still it was not enough to counter the slowdown in other expenditure items,” said Edillon.

Government final consumption expenditure, meanwhile, grew by 7.2 percent, while gross capital formation rose by 7.5 percent. Exports of goods and services went up by 3.4 percent, while imports of goods and services increased by 4.3 percent.

Building resilience – Edillon noted that the key to economic growth is to build resilience and ensure adaptability to changing preferences.

“To achieve resilient economic growth, we need to diversify our sources of growth,” she said.

Edillon cited the need to encourage more investments in sectors that require workers with higher-level skills.

To keep food inflation low and stable, Edillon said the government must anticipate potential shocks and continue to employ multi-pronged approaches.

“Looking ahead to 2025, we want to regain our growth momentum driven by strategic investments and initiatives designed to strengthen resilience and lay the foundation for long-term inclusive growth,” she said.

Edillon said the government will also ramp up efforts to further develop the country’s infrastructure and boost economic competitiveness by streamlining business processes.

According to Edillon, the government will also expand new free-trade agreements.

To support the recovery in the agriculture sector, Edillon said the government through the Department of Agriculture, will fast-track the implementation of the National Rice Program, invest in irrigation facilities, and fully utilize the increased provision for the Rice Competitiveess Enhancement Fund to improve farm productivity.

Edillon said tourism will also help boost economic growth.

“The government will explore easing visa requirements and actively participate in initiatives such as the proposed ASEAN common visa policy to enhance visitor inflows,” she said.

Edillon said the government will also strengthen the country’s talent pipeline through reskilling and upskilling programs to boost growth in the information technology and business process management (IT-BPM) sector.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you surprised that the 2024 economic growth of the Philippines ended below 6%? What do you think will help the national economy grow by at least 6% this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

I Love Israel: Israel-DAR strategic partnership on agricultural development discussed

I Love Israel: Israel-DAR strategic partnership on agricultural development discussed

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As some of you are already aware, I fully stand with Israel which is very connected with my uncompromising faith in the Lord. I keep on praying to Him for Israel to overwhelm its enemies, rescue the hostages and recover from the effects of the October 7, 2023 terrorist attacks committed by the Palestinian terrorist group Hamas which is sponsored by terrorist state Iran. I can assure all of you that nobody from the evil Islamo-Leftist mob, nobody from the pro-Palestine radicals, nobody from the political correctness extremists, and nobody from evil societies would stop me from supporting and loving Israel.

Now, on with the news…

A few weeks ago, Israel and the Department of Agrarian Reform (DAR) started a strategic partnership that will benefit the Philippines by means of agricultural development, according to a news article by the Philippine News Agency (PNA).

For the newcomers reading this, the Jewish state is one of the world’s leaders in agriculture and the Philippines can really use Israeli expertise to make tremendous improvements.

To put things in perspective, posted below is the excerpt from the PNA news article.. Some parts in boldface…

The Department of Agrarian Reform (DAR) has entered into a strategic partnership with Israel to advance agricultural development and innovation in the Philippines.

In a news release on Thursday, DAR said Secretary Conrado Estrella III and Israel Ambassador Ilan Fluss have discussed the possibility of a strong collaboration on cutting-edge farming technologies, rural development, and sustainable agricultural practices.

During their meeting, Estrella recognized the longstanding relationship between the Philippines and Israel and highlighted the successful implementation of the Philippines’ agrarian reform program under the leadership of President Ferdinand R. Marcos Jr.

He also noted the positive impact of DAR programs on the lives of agrarian reform beneficiaries while emphasizing the need for further growth in rural areas.

Fluss, meanwhile, acknowledged the ongoing challenges faced by Israel due to the ongoing war in the Middle East and shared the resilience of their agricultural sector. He also noted the importance of international partnerships from allies such as the United States in securing food and medical aid for its citizens.

Meanwhile, a key focus of the meeting between Estella and Fluss was the adoption of Israeli agricultural technologies, particularly in irrigation methods and Precision Agriculture (PA).

Israel’s expertise in water-efficient irrigation systems, particularly suited for arid regions, was identified as a critical solution for Filipino farmers facing water crisis concerns.

Both officials expressed enthusiasm about the potential of PA, which uses data and technology to optimize crop yields, water use, and resource management, while Fluss affirmed Israel’s willingness to share expertise in this area.

As part of knowledge exchange initiatives, Fluss also invited DAR officials to visit Israel for training by experts on farming, rural development, and climate change adaptation.

This newest development shows the continuing growth of Israel-Philippines ties through agriculture as well as the opportunities for Filipinos to innovate on agriculture, improve farming methods and ensuring food security for the entire nation. Watch and learn from the videos below…

To my fellow Filipinos reading this, I encourage you to accept the truth that Israel is the land God designated specifically for the Jewish people (read Genesis 35:10-12) and His command must be followed without hesitation. If you want to be blessed further by the Lord, do so by loving and blessing the Jewish people (Genesis 12:1-3). I did my part when I was in Israel. Also, let me remind you all that the ties between the Jews and Christians are truly biblical!

I encourage you all to pray to the Lord God in support of Israel, to love and bless the Jewish people, and pray for the peace of Jerusalem. Pray to Him so that Israel-Philippines ties and cooperation will keep growing stronger in the many years ahead.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful, you should be aware that Christians are meant to stand united with Israel and love the Jewish people no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus! Always stand in support of Israel and its ties with the Philippines!

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

San Miguel Corporation’s “Better Rivers PH” initiative removes 93,000 tons of silt and waste from Parañaque rivers

San Miguel Corporation’s “Better Rivers PH” initiative removes 93,000 tons of silt and waste from Parañaque rivers

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Parañaque City benefited from the “Better Rivers PH” initiative of San Miguel Corporation (SMC) as ninety-three thousand tons of silt and waste was removed from the rivers of the city and other improvements were also done, according to a Business Mirror news report.  

To put things in perspective, posted below is an excerpt from the Business Mirror news report. Some parts in boldface…

San Miguel Corp.’s (SMC) “Better Rivers PH” initiative has removed 93,000 tons of silt and waste from Parañaque rivers as of January 23.

The company said this effort aims to improve water flow and address perennial flooding at Ninoy Aquino International Airport (Naia) and surrounding areas.

The cleanup covers 1.9 kilometers of river channels, including the Parañaque River, Don Galo River, and their junctions with the San Dionisio and Villanueva creeks.

In addition to river cleanups, SMC has also de-clogged storm drain lines along Domestic Road and NAIA Terminal 4. This included reopening 54 manholes and constructing 10 new ones for better access and maintenance. These upgrades are seen to sustain flood prevention efforts around the airport complex.

SMC’s efforts, carried out at no cost to the government or taxpayers, are part of a broader mission to restore waterways and reduce flooding in urban areas.

Bathymetric surveys in Parañaque identified bottlenecks in river systems that restricted water flow to Manila Bay, prompting targeted cleanup and desilting operations in critical areas. The project benefits from the active involvement of key government agencies such as the Department of Transportation (DOTr), Department of Public Works and Highways (DPWH), Department of Environment and Natural Resources (DENR), and the local government of Parañaque.

“Flooding has been a long-standing issue for Parañaque and NAIA, particularly during typhoon season,” said SMC Chairman and CEO Ramon S. Ang. “Through Better Rivers PH and with support from government agencies, we were able to implement sustainable solutions that we hope will deliver lasting benefits to residents, businesses, and travelers.”

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you delighted over SMC’s special assistance that cost you nothing? Do you want to see SMC’s initiative to last long to make Parañaque cleaner, better and safer as a city?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Muntinlupa City Government will implement reforms at Ospital ng Muntinlupa (OsMun)

Muntinlupa City Government will implement reforms at Ospital ng Muntinlupa (OsMun)

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Recently in the City of Muntinlupa, it was announced that reforms at the Ospital ng Muntinlupa (OsMun) will be implemented by the City Government, according to a Manila Bulletin news report. The said hospital is located in Filinvest City.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Muntinlupa Mayor Ruffy Biazon said the city government will implement reforms at the Ospital ng Muntinlupa (OsMun) in Alabang.

Biazon held a dialogue with doctors of the hospital about concerns.

The supervision of OsMun was returned to the Muntinlupa City government based on an ordinance passed last year. In 2019, the OsMun was designated as a Local Economic Enterprise (LEE) aimed at generating its own revenue. 

“Ngunit sa ilang taon ng operations, lumalabas na hindi niya kaya makamit ang nasabing revenue na nagdulot ng kakulangan sa naihahatid na serbisyo (But after several years of operations, it turned out that it was unable to achieve the said revenue, which caused a shortage in the service delivered),” Biazon posted on Facebook.

During the meeting, Biazon explained to the OsMun doctors the changes that will be implemented and listened to their complaints and suggestions.

He said the return of OsMun under the city government was meant to give the hospital the capability to provide the right service.

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you feel confident that reforms at the Ospital ng Muntinlupa will result in improvements?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Ownership of Festival Mall transferring to Filinvest REIT Corporation (FILRT) for over P6 billion

Ownership of Festival Mall transferring to Filinvest REIT Corporation (FILRT) for over P6 billion

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Have you been to Festival Mall in Alabang lately? Some things might change in the near future as the ownership of the shopping and lifestyle mall (first opened in May 1998 as Festival Supermall) is being transferred by the Gotianun Group to Filinvest REIT Corporation (FILRT) in a deal worth more than P6 billion, according to a Manila Bulletin business news report.

To put things in perspective, posted below is the excerpt from the Manila Bulletin business report. Some parts in boldface…

The Gotianun Group is transferring ownership of its flagship Festival Mall-Main Mall in Filinvest City, Alabang, Muntinlupa City to Filinvest REIT Corporation (FILRT) in a P6.26 billion deal that marks the real estate investment trust’s entry into the retail leasing business.

In a disclosure to the Philippine Stock Exchange, Filinvest Land Inc. (FLI) said it is selling the 26-year-old Festival Mall to FILRT in exchange for 1.63 billion FILRT shares at an issue price of P3.85 per share under a tax-free property-for-share swap transaction.

“The transaction fulfills FLI’s commitment as the sponsor of FILRT to continually support the growth and expansion of its REIT portfolio through the infusion of high-quality income-generating real estate assets,” FLI said.

It added that, upon the Securities and Exchange Commission’s (SEC) approval of the transaction, FLI and FILRT shall execute a lease agreement for the building.

In a separate disclosure, FILRT said the issue price represents a 30 percent premium over the 30-day volume weighted average price of P2.94 per FILRT share, and falls within the fair value price range provided by FTI Consulting’s Fairness Opinion and LeeChiu Property Consultants, Inc.’s Valuation Report.

The property was appraised by Leechiu Property Consultants, and a fairness opinion was provided by FTI Consulting. A discounted cash flow (DCF) approach was used as the primary method to determine the value of the property.

Under the DCF approach, the future cash flows of the property were discounted using a weighted average cost of capital (WACC) based on a capital asset pricing model. A direct capitalization approach was also used as a secondary reference for the valuation of the property.

For the valuation of the shares, FTI Consulting used various methodologies such as the DCF approach, a dividend discount model, and a comparable public companies’ method, to arrive at a range of values for the fair value of FILRT shares.

The primary common shares to be issued by FILRT to FLI will come from the unissued common shares of FILRT. This will be subject to the approval by FILRT’s shareholders and regulatory approvals.

Upon the SEC’s approval of the transaction, FLI and FILRT shall execute a lease agreement for the property.

“Pursuant to the approval of the transaction, the Board approved the conduct of a special stockholders’ meeting (SSM) to be held on March 4, at 10:00 AM. The record date for the determination of stockholders entitled to notice and right to vote at the SSM is February 10, 2025,” the firm said.

FILRT’s diversification into mall leasing comes after its expansion into the hospitality space with the acquisition of 2.9 hectares of land owned by Filinvest Development Corporation (FDC) in Boracay Island for P1.05 billion in cash.

The land is being leased by Boracay Seascapes, Inc. (BSI), the building owner of Crimson Resort & Spa Boracay and a subsidiary of FDC.

FILRT President and CEO Maricel Brion-Lirio said this is the company’s first asset infusion since its initial public offering and “not only increases the distributable income to our shareholders in the immediate term but also supports our goal of delivering stable dividends and increasing the potential for capital appreciation in the longer term.”

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who happens to be a frequent visitor or shopper of Festival Mall, do you think the incoming, new owners will be able to make improvements on the mall somehow? Do you hope that the original cinemas of Festival Mall will get renovated and reopened with the latest cinema technologies in the future?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Chinese national arrested at NAIA Terminal 1 for using a fraudulently acquired visa

Chinese national arrested at NAIA Terminal 1 for using a fraudulently acquired visa

carlocarrasco

Recently at Terminal 1 of the Ninoy Aquino International Airport (NAIA), elements of the Bureau of Immigration (BI) arrested a Chinese national who was found using a fraudulently acquired working visa, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

Bureau of Immigration (BI) officers at the Ninoy Aquino International Airport (NAIA) arrested a Chinese man for using a fraudulently acquired working visa.

In a statement, Immigration Commissioner Joel Anthony Viado said 23-year-old Li Xuanjun was intercepted at the immigration departure area of NAIA Terminal 1 in Parañaque City on Jan. 22 before he could board a Philippine Airlines flight for Quanzhou, China. Viado said Li’s name prompted a hit in the bureau’s automated derogatory check system.

The hit indicated that the passenger was wanted by the BI for possessing a working visa which he acquired through fraud and misrepresentation.

Verification made by the BI supervisors confirmed that Li and the person who is the subject of the derogatory hit are one and the same.

“We will be deporting him for being an undesirable alien which stemmed from his acquisition of a visa through dishonest means,” Viado said. “His inclusion in our blacklist effectively banned him from re-entering the Philippines.”

The passenger was turned over to the Order Control and Intelligence Unit which brought him to the warden facility in Taguig City as he undergoes deportation proceedings.

Records showed that Li’s working visa was canceled by the BI in 2023 after an investigation revealed that he acquired his visa upon the petition of a fictitious employer company.

A check with the Securities and Exchange Commission and the Department of Trade and Industry reportedly found that the purported firm is non-existent.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there are still a lot of Chinese nationals here in the Philippines using visas that were fraudulently acquired? How many Chinese nationals are living in your local community right now? Are you ready to report the presence of illegal aliens to the local authorities?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Bureau of Immigration (BI) tells public to report foreigners engaged in illegal espionage

Bureau of Immigration (BI) tells public to report foreigners engaged in illegal espionage

carlocarrasco

In light of the recent apprehension of Chinese nationals who were suspected to be working as spies, the Bureau of Immigration (BI) urged the public to report foreign nationals engaged in illegal espionage here in the Philippines, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the news article of the Manila Bulletin. Some parts in boldface…

The Bureau of Immigration (BI) on Sunday, Feb. 2, urged the public to report foreigners engaged in illegal espionage and other suspicious activities.

“We are serious in our efforts to stop these undesirable aliens from abusing our hospitality,” declared BI Commissioner Joel Anthony M. Viado in a statement.

Viado aired his plea following the arrest of six suspected Chinese spies who were caught during a series of operations conducted recently by the National Bureau of Investigation (NBI) and Armed Forces of the Philippines (AFP).

The alleged spies were earlier identified by as Deng Yuangqing, Cai Shaohuang, Cheng Hai Tao, Wu Cheng Ting, Wang Yong Yi, and Wu Chin Ren.

They have been charged with the non-bailable offense of violations of Commonwealth Act No. 616, the Espionage Act, in relation to Republic Act (RA) No. 10175, the Cybercrime Prevention Act of 2012.

Viado disclosed the BI has been investigating the arrested suspected spies and found that they have been embedded in the Philippines for years.

“Some have been here as early as 2002,” he said.  

“They have been holding legal statuses, and have lived in the country for a long time before they were found to be doing suspicious activities by the National Bureau of Investigation (NBI) and the Armed Forces of the Philippines (AFP),” he also said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there could be a lot of spies from Communist China living here in the Philippines doing secretive espionage work? Do you think the government should announce financial rewards for information that would lead to arrest of foreigners who committed illegal espionage in the country?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco