00:30.5
In ANC, we were witnesses to the defining moments
00:33.3
of Philippine history that influenced the world.
00:39.1
🎵 Music 🎵
00:42.8
This is the Philippines.
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🎵 Music 🎵
01:01.2
Today on the Business Roadshow,
01:03.7
Asian shares trading mostly higher thanks to a rally on Wall Street overnight.
01:09.5
U.S. Vice President Kamala Harris secures more than enough delegates
01:13.5
to claim the Democratic presidential nomination.
01:17.5
Here at home, the Philippine Finance Chief vows assistance for workers
01:20.8
affected by the presidential order to ban Pogos.
01:25.3
Plus, later on the show, we talked to a group that alleged Energy Secretary Rafael Otelia
01:30.5
violated a Duterte-era moratorium on coal-fired power plants.
01:38.7
Join us in the next hour as we bring you the latest in the financial world.
01:43.3
And I'm Stanley Palisada. Let's get the show on the road.
01:45.5
🎵 Music 🎵
01:55.3
We're taking you straight to financial markets.
02:01.7
Regional shares are mostly higher after Wall Street brushed aside political uncertainties
02:06.8
to close higher overnight.
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Investors here in Asia and elsewhere now turn their focus to earnings releases
02:13.4
of so-called magnificent seven companies
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led by Google parents Alphabet and electric car manufacturer Tesla.
02:21.3
To the board now, most Asian markets are in the green
02:24.4
with a hang saying,
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🎵 Music 🎵
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leading the rally.
02:27.3
South Korea's Kospi index up by half a percent
02:30.4
after Seoul's producer price index rose slightly in June.
02:34.8
The Nikkei 225 meanwhile is trading near the flatline
02:38.2
after shedding over a percent on Monday.
02:42.6
Taking a look now at futures in Europe,
02:45.0
they are set for a mixed open ahead of a raft of earnings reports
02:48.5
including from French luxury firm LVMH and trainmaker Alstom.
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The German DAX poised to open a third of a percent higher
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while contracts tied to the London FTSE 100 down half a percent.
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On the data front, Eurozone consumer confidence numbers are on tap.
03:09.0
Stateside, futures for Wall Street are pointing to a day of losses
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just a day after the major indices rebounded from their worst week since April.
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This amid caution ahead of the quarterly results of Tesla and Alphabet.
03:24.6
🎵 Music 🎵
03:25.3
Vice President Kamala Harris secures more than enough delegates needed
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to claim the Democratic presidential nomination.
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Harris crossed the threshold amid a wave of endorsements from state delegations Monday night.
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Delegates now expected to vote to confirm Harris as the nominee before August 7.
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During her first public appearance since launching her White House bid,
03:47.8
Harris said that building up the middle class would be at the center of her presidency.
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🎵 Music 🎵
03:54.5
She also praised U.S. President Joe Biden's leadership.
04:00.1
🎵 Music 🎵
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Joe Biden's legacy of accomplishment over the past three years is unmatched in modern history.
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In one term, he has already...
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Yes, you may clap.
04:15.2
🎵 Music 🎵
04:17.9
In one term, he has already surpassed the legacy of most presidents.
04:24.5
Who have served two terms in office.
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And I first came to know President Biden through his son, Beau.
04:31.0
We worked together as attorneys general in our states.
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And back then, Beau would often tell me stories about his dad.
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His honesty, his integrity, his commitment to his faith and his family,
04:45.5
his big heart, and his love, deep love of our country.
04:50.2
And I am first-hand witness that every day,
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our President Joe Biden fights for the American people.
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And we are deeply, deeply grateful for his service to our nation.
05:03.3
🎵 Music 🎵
05:06.3
Democratic Party heavyweights throw their support behind Kamala Harris.
05:11.1
Former House Speaker Nancy Pelosi endorsed Harris' White House bid.
05:15.6
Pelosi played a leading role in persuading Biden to step aside
05:19.0
as concerns over his ability to beat Donald Trump grew after their debate last month.
05:24.5
Democratic Senator Dick Durbin also giving his seal of approval to Harris.
05:31.5
The announcement yesterday by President Biden came as a surprise to many.
05:38.8
This has been building for some period of time.
05:41.8
I want to salute him.
05:43.5
It is an extraordinary decision for someone who has a lifetime in public service
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to step aside for the good of the country and the good of his party.
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He made that decision yesterday.
05:53.1
I'm sure it wasn't an easy one.
05:54.5
I'm sure it wasn't an easy one for him.
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If we're going to wage a successful campaign against Donald Trump,
06:00.4
we've got to get our act together.
06:02.2
So I'm hoping that more Democrats will step forward to support her nomination.
06:06.5
And we'll get underway in just a few weeks with the convention.
06:12.3
The Vice President's campaign said it raised $81 million in just 24 hours
06:17.7
since Harris announced her White House bid.
06:22.3
Now Hamas says it has signed an agreement.
06:24.5
With other Palestinian groups calling for national unity, a senior Hamas official said the unity deal was signed with its rival Fatah during their visit in China.
06:35.3
Chinese Foreign Minister Wang Yi says the 14 Palestinian factions have also agreed to set up an interim national reconciliation government to govern Gaza after the war with Israel.
06:47.4
This comes after an Israeli assault on Khan Yunis in southern Gaza killed 70 Palestinians.
06:52.7
The death toll in the war has surpassed 39,000.
06:58.6
Here at home, the Philippine Gaming Regulator estimates a loss of at least P21 billion in government revenue due to Marxist order banning Pogos.
07:08.1
The budget earlier said Pogos bring in between P40 to P50 billion in revenues, but the Department of Finance also said the Philippines loses over P99 billion annually due to their operations.
07:21.9
This is the Philippine Gaming Regulator.
07:22.7
Despite this, the chief of Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
07:52.7
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
08:22.6
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
08:52.6
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
09:22.6
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
09:22.6
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
09:52.6
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
10:22.6
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
10:52.6
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
11:22.5
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
11:52.5
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
12:22.5
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
12:52.5
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
13:22.5
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
13:22.5
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
13:52.5
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
14:22.4
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
14:52.4
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
15:22.4
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
15:52.4
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
16:22.4
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
16:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
17:20.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
17:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
17:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
18:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
18:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
19:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
19:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
20:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
20:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
21:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
21:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
22:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
22:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
23:20.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
23:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
23:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
24:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
24:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
25:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
25:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
26:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
26:52.3
The company's Universal Rubina Corporation. Stay with us.
27:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
27:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
28:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
28:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
29:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
29:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
30:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
30:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
31:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
31:52.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
32:22.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
32:48.3
The Pagkor vows to comply with President Marcos' order, but he admits banning Pogos is a tall order.
32:52.3
health now, especially
32:54.3
post-COVID? I mean, how have
32:56.4
the Filipino consumer preferences
32:58.1
for confectionery
33:00.3
evolved over the years?
33:04.5
I got to my role during
33:06.5
the RFB pandemic, no?
33:11.1
And what I've learned
33:12.3
so far, so, in terms of consumption
33:14.4
moments, there's been some
33:16.3
shift away from home eating moments,
33:18.5
so eating outside, eating with friends,
33:20.4
to more in-home eating moments for
33:22.4
confectionery. And actually, during
33:24.5
the height of the pandemic, no?
33:26.2
So, candies and chocolates with functional
33:28.2
benefits, such as vitamins and mineral
33:30.5
protection were needed,
33:32.2
as well as indulgent chocolates, because
33:34.1
when we did our market study,
33:36.1
it seems like people still wanted to eat
33:38.1
these chocolates for the taste
33:40.5
and because it helps them feel
33:44.4
Although, so far, when it comes to the
33:46.4
post-vaccine era, it seems that the functional
33:48.5
benefits weeks have increased
33:52.0
But nowadays, the consumer preferences
33:54.2
would be those of affordable value
33:56.3
and I'd say that indulgent sweets
33:58.3
would be a close second.
34:00.4
Now, indulgent sweets really
34:02.3
is quite a favorite for Filipino consumers
34:04.3
but, of course, there are reports that
34:06.0
cocoa prices are spiking up
34:08.2
by next year. So,
34:10.4
how is URC preparing for that?
34:12.8
Any new product developments
34:14.5
really in line, in preparation
34:16.6
so that the Filipino consumers
34:20.2
their chocolate sweets?
34:22.5
We're always on the lookout for
34:24.0
alternative sources.
34:26.0
So, I'm blessed to have a very,
34:28.3
very intelligent team who's
34:29.5
working on that. And I think
34:32.2
it's safe to say that we're
34:34.3
on track to combat this cocoa supply.
34:36.8
And also, we have
34:38.1
new products already out in the market
34:42.2
the first of them, which was released in April,
34:44.8
it's Nip Choco Malt.
34:47.0
Choco Malt was also one of
34:48.3
the flavors that was identified as
34:50.2
trending. So, I'm happy that
34:52.0
that's released. And actually,
34:55.0
I believe, just last
34:56.5
week, or was it two days
35:00.5
series of soft candies. So,
35:02.4
there's Lush Sour Lemon and
35:04.2
Lush Sour Strawberry. So,
35:06.5
the Lush Sour series is our launch here
35:08.4
in the Philippines towards the soft candy market
35:10.3
where we don't necessarily have
35:12.5
a strong presence because
35:13.8
when it comes to candies, URC
35:16.3
is more famous for Max, which is a hard candy.
35:20.2
that the Lush Sour can
35:22.2
help us enter the soft candy
35:24.4
market. And what are
35:26.3
some recent technological advancements
35:28.6
that have impacted
35:30.3
confectionery production at
35:32.2
URC, if there are any?
35:36.4
the most recent ones that I recall,
35:38.6
they're the purchase of automatic
35:40.3
panning units. So, they've actually
35:42.3
helped the increased production of nips.
35:48.7
we've also purchased
35:50.2
laminated candy lime.
35:52.1
So, that's helped us produce one of
35:54.1
our newest products, which is called
35:56.2
Cloud 9 Gold Caramel Nut Crisp.
35:58.8
It's a laminated candy
36:00.1
enrobed in rich chocolate.
36:04.3
you know, you were able to address
36:06.3
what URC is doing,
36:08.5
of course, with the whole cocoa price spike.
36:10.7
But how about with increasing
36:12.0
health consciousness among consumers,
36:14.6
how is URC also addressing
36:16.4
the demand for healthier
36:20.2
Oh, that's a good question.
36:22.0
So, one of our initiatives so far,
36:25.5
partially hydrogenated oil fats,
36:28.1
so, we've been on the look
36:29.7
for using non-partially
36:31.8
hydrogenated oil fats, especially
36:34.0
in confectionery, in which
36:35.3
fat is an essential. And I'm actually
36:37.8
very proud to say that we've completed
36:41.9
And what challenges
36:43.2
do you face in maintaining
36:45.6
the taste while also, you know,
36:48.0
improving the nutritional profile?
36:50.2
of your products?
36:53.4
So, because prices are always rising,
36:55.3
especially because of the 2022
36:56.9
inflation, it's actually
36:59.0
hard to maintain affordability,
37:00.9
which I mentioned earlier, was one of
37:03.1
the key factors to drive
37:05.3
the confectionery market.
37:07.2
So, from our end,
37:09.0
we're always trying to innovate the formula
37:11.2
so it's still cost efficient,
37:13.0
while at the same time, either maintaining
37:14.7
or improving the taste. And at the same time,
37:17.2
still keeping the nutritional
37:18.9
profile of our products.
37:20.8
And this actually doesn't just apply
37:22.5
to candies and chocolates.
37:24.3
The same is true with other categories like
37:26.2
snacks, drinks, coffee,
37:30.5
And, you know, we've talked about the main
37:32.3
challenges, which is usually
37:33.7
affordability, and Filipinos
37:36.4
really quite set on their taste.
37:38.6
But how about some opportunities
37:41.8
in expanding URC's confectionery
37:44.6
products to new markets?
37:48.5
when it comes to expanding,
37:50.2
first, when it comes to candies,
37:52.0
there's opportunity to expand more
37:54.0
in the soft candy market.
37:56.4
So, Max, as I mentioned,
37:57.9
which is our most popular candy brand,
38:00.2
so it's part of our hard candy
38:02.2
lineup, but we've noticed
38:04.2
that the soft candy market seems to be
38:05.9
growing bit by bit.
38:08.1
For chocolates, so there seems
38:10.1
to be a preference now towards multi-textural
38:12.3
chocolate. And by multi-textural,
38:14.4
so, I don't just mean chocolate,
38:16.2
so it means combining the goodness of chocolate
38:18.0
with, say, a crunchy, a crunchy
38:20.1
taste. So, that's the first thing.
38:20.2
And aside from those
38:22.5
products that you mentioned, and the products
38:24.5
also that have been released earlier
38:26.3
this year, are there any new
38:28.3
products, snacks, or innovations
38:30.2
in the pipeline that you and
38:32.3
your team are particularly excited
38:34.5
about that you can share with us?
38:37.0
So, yeah, there's the
38:38.3
Nip Choco Malt and the
38:40.2
Lush Sour series.
38:42.0
There have also been some products
38:44.1
in the indulgence, such as
38:45.9
XO Strawberry Cheesecake,
38:48.3
Hello Strawberry Cheesecake,
38:51.3
something up for Hello also in this 2024,
38:55.7
products coming up
38:58.3
this 2025. We're really excited
39:00.1
to launch these. And we're so excited
39:02.2
for that. Justin Pe, head of
39:04.3
the R&D of the confectionery of
39:06.2
URC. Justin, thank you so much for joining
39:08.3
us. Thank you, Nadice. Thank you
39:10.3
again for having me.
39:11.9
Now, more news. The UP Third World
39:14.2
Studies Center disputing President
39:16.1
Marcos' claim of a
39:18.1
bloodless anti-drug campaign.
39:20.2
During his State of the Nation address,
39:22.1
Marcos touted his more compassionate
39:24.2
version of the war on drugs,
39:26.5
which has led to the confiscation
39:28.1
of billions of pesos worth of
39:30.0
narcotics and the arrest of
39:31.9
thousands of drug personalities.
39:34.2
But based on its tally,
39:38.3
there have already been over
39:41.9
killings under the
39:43.9
Marcos administration.
39:47.6
It's alive because
39:50.2
they've been monitoring
39:51.4
the drug-related killings
39:54.2
under this administration.
39:56.7
We recorded in the
39:58.7
first year of this administration
40:02.8
drug-related killings, and in the
40:04.6
second year, 359.
40:07.6
And in the last two
40:08.7
weeks, there have been an additional
40:18.6
war against drugs,
40:22.5
is plain and simple
40:24.2
propaganda from the administration.
40:30.3
that matter today, 74%.
40:33.0
Are you among them?
40:34.6
A new study by Robert Waters finds
40:36.4
it's the percentage of Filipino
40:38.2
professionals eyeing
40:40.1
a backup job just in
40:42.2
case anything goes wrong in their current
40:44.3
career. The Global Talent Solutions
40:46.3
firm calls this career
40:48.1
cushioning, which it said is
40:50.2
a growing trend in labor markets,
40:52.1
including here at home. The study
40:54.3
identified certain motivations for
40:56.2
professionals to start looking
40:58.0
for their next job, which include
41:00.1
unhealthy work environment and
41:02.1
low job satisfaction. It's
41:04.2
not that bad though, as Robert Waters
41:06.2
said, employers generally
41:08.4
view career cushioning strategies
41:10.1
such as upskilling as a
41:12.2
positive thing. Some 57%
41:14.6
of employers polled,
41:16.3
consider this as a means
41:18.2
to improve talent retention,
41:20.2
and foster new ideas
41:25.1
We're going on another
41:26.3
quick break, but stay tuned. When we come back,
41:28.3
we'll tackle the graft complaint
41:29.9
filed against Energy Chief
41:32.0
Rafael Otilia. Stay with us.
41:50.2
We'll be right back.
41:52.1
We'll be right back.
42:20.2
We'll be right back.
42:50.2
We'll be right back.
43:22.1
A graft complaint is filed against Philippine Energy
43:24.3
Secretary Rafael Otilia over
43:26.1
a coal-fired power plant in
43:28.0
Cebu Province. Progressive groups,
43:30.5
Power for People, and
43:32.2
the Buklura ng Manggagawang Pilipino filed
43:34.1
a complaint with the Ombudsman. They accused
43:36.2
Otilia of violating a 2020
43:37.9
moratorium on the development of
43:40.2
new coal-fired power plants in the
43:42.2
Philippines. Let's get more details on
43:44.2
this with P4P Coalition's
43:46.0
Attorney Aaron Pedrosa. Attorney Pedrosa,
43:48.3
good afternoon. Welcome to the Business Roadshow.
43:50.2
Good afternoon, Stanley,
43:52.2
and good afternoon to all of us tuning in right now.
43:54.8
Alright, first off, can you tell us
43:56.5
about the case against Energy Secretary
43:58.3
Rafael Otilia for claims
44:00.1
that he is favoring
44:01.8
Aboytis Power to expand in Toledo,
44:04.3
Cebu amid, of course, a standing
44:06.4
moratorium on coal usage for
44:08.3
power. What can you tell us more
44:12.2
Yes, that is correct, Stanley. We filed
44:14.4
and then we, I mean,
44:16.4
San Lacas, Power for People Coalition,
44:19.0
Buklura ng Manggagawang
44:20.2
Pilipino and residents of
44:22.0
Cebu City and Toledo City
44:23.8
against current DOH
44:26.0
Chief Rafael Otilia
44:30.0
of the Anti-Crafted Corrupt
44:31.9
Practices Act, particularly
44:40.0
violation of the Code
44:42.1
of Ethical Standards for Public
44:50.2
extending not just preferential
44:53.7
evident manifest partiality
44:56.0
towards Aboytis-owned
44:58.2
coal plant when there is
45:02.1
moratorium that should
45:04.1
not have been allowed in the
45:06.1
first place because the standing moratorium
45:09.6
the construction of
45:12.2
greenfield coal plants.
45:14.3
Okay, Attorney Fred Rosa is the only
45:16.2
respondent, is Secretary Otilia
45:18.1
the only respondent in the case,
45:20.2
or is there any other person, personality
45:22.3
or power that you're including?
45:27.5
because it was after all
45:36.2
or Terma Visayas Incorporated
45:38.4
that is the Aboytis-owned coal
45:40.3
plant in Toledo City, by
45:42.3
issuing a certificate of endorsement
45:48.5
in our complaint before the Ombudsman,
45:52.2
of the standing advisory
45:58.2
coal plant projects.
46:00.2
Alright, and has there been consultation
46:02.2
with other stakeholders prior to that
46:04.2
decision, to your knowledge?
46:12.2
coal moratorium, we asked for clarification
46:18.2
when it included, you know, the
46:20.2
exemptions to existing
46:24.2
because of the clarification
46:28.2
we extended the same
46:30.2
clarification to say
46:32.2
that the TBI coal plant
46:34.2
which was approved
46:36.2
by Secretary Otilia
46:38.2
should not have been exempted.
46:40.2
This is when we sent letters
46:42.2
last year and early
46:44.2
this year, clarifying again
46:46.2
or asking DOE to clarify
46:48.2
why a certificate of endorsement,
46:50.2
was provided in the first place.
46:52.2
You see, we come in the picture,
46:54.2
into the picture,
46:56.2
as an afterthought. There is no
46:58.2
prior consultation made
47:02.2
energy offices concerning
47:06.2
projects, especially fossil-based
47:08.2
technology. And this is where
47:12.2
Because it defeats and undermines
47:16.2
national determined contribution that is
47:18.2
otherwise known as the climate action.
47:20.2
Which seeks to reduce 75%
47:22.2
of greenhouse gas emissions
47:24.2
across different sectors.
47:28.2
coal moratorium, as we call it,
47:30.2
and even government
47:34.2
is a direction, is a step towards that
47:36.2
direction, to increase the share of
47:38.2
renewable energy. And
47:42.2
what President Marcos Jr. said
47:46.2
renewable energy, is the way forward.
47:50.2
DOE, through Secretary Lutilia,
47:52.2
issued his approval,
47:54.2
or its approval, through a certificate
47:58.2
we felt that this is a step
48:00.2
towards the wrong direction.
48:02.2
Undermining not just
48:04.2
the coal moratorium, not just
48:06.2
the pronouncement of
48:08.2
President Marcos Jr.,
48:10.2
but also the very
48:12.2
commitment of the
48:14.2
Office of the Secretary, as the
48:16.2
chief implementer of
48:20.2
are existing rules,
48:22.2
consistent with this mandate, to ensure
48:24.2
affordable, clean energy
48:26.2
for all Filipinos.
48:28.2
Okay, just to cover the basis,
48:30.2
under the moratorium, of course, concerned stakeholders
48:32.2
should be notified that the DOE would
48:34.2
not process, of course, we know
48:36.2
this when the moratorium is
48:38.2
enforced, it will not process applications
48:40.2
for greenfield coal-fired
48:42.2
power generation facility projects,
48:44.2
requesting for endorsement
48:46.2
and existing and operational coal-fired
48:48.2
power generation facilities.
48:50.2
What should have been done procedurally
48:52.2
to get this going?
48:56.2
going by the coal moratorium,
49:00.2
a new greenfield coal plant.
49:02.2
So, technically speaking,
49:04.2
the TBI expansion
49:06.2
project should not have been
49:08.2
allowed in the first place.
49:10.2
The exemptions provided under
49:12.2
the coal moratorium includes
49:14.2
existing coal plants
49:16.2
which already have
49:24.2
as to the expansion.
49:32.2
so that we are not
49:40.2
that the exemptions apply
49:42.2
to existing and operational
49:44.2
coal-fired power generation
49:50.2
committed power projects,
49:56.2
committed projects,
50:00.2
sorry about that, existing power plants
50:02.2
which already have firm
50:04.2
expansion plans and existing
50:06.2
land site provision.
50:08.2
And the third one is indicative power projects.
50:10.2
We felt that at the very least,
50:12.2
perhaps, the TBI expansion
50:14.2
project in Toledo
50:16.2
City would fall under letter
50:18.2
B, existing power plant
50:20.2
which already have firm expansion
50:22.2
plans. But take note,
50:24.2
the committed and indicative
50:26.2
projects are posted on
50:28.2
the DOE website and the earliest
50:30.2
posting was in 2014.
50:32.2
The last one was in 2019
50:36.2
So there were only two
50:40.2
under the TBI project
50:42.2
indicated there until
50:44.2
the moratorium came
50:46.2
into effect in December of 2020.
50:54.2
declaration to detect
50:56.2
that another coal plant
50:58.2
will be established. In fact,
51:00.2
in 2022, if I'm not
51:02.2
mistaken, what TBI
51:04.2
announced was a diesel plant.
51:06.2
As early as then,
51:08.2
there was no announcement of a construction
51:10.2
of a coal plant. So that for
51:12.2
the new coal plant to come
51:14.2
under the exceptions of
51:16.2
the 2020 coal moratorium,
51:20.2
one which is already an existing
51:22.2
power plant. Secondly,
51:24.2
which have firm expansion
51:26.2
plans and existing land site
51:28.2
provision. In this case,
51:30.2
the expansion does not fall
51:32.2
under the category or
51:34.2
the exemption provided under the
51:36.2
coal moratorium. Alright, having
51:38.2
said all of that, what are the next steps
51:40.2
for your group? No, we
51:42.2
hope that precisely we brought
51:44.2
the case against Secretary
51:46.2
for the Ombudsman
51:52.2
for evident and manifest
51:58.2
and conduct prejudicial
52:00.2
to the service. And
52:02.2
these are all provided under
52:04.2
the Anti-Corruptive Practices Act
52:06.2
of the Philippines and the Code of
52:08.2
Ethical Standards. And if there is finding
52:10.2
a probable cause to file the
52:12.2
necessary charges to hold Secretary
52:14.2
Lutely accountable, the message
52:16.2
should be unequivocal.
52:18.2
There should be no
52:20.2
preferential treatment bias
52:22.2
or undue advantage provided
52:24.2
especially to fossil fuel
52:26.2
corporation in the context
52:28.2
of the climate emergency, in the
52:30.2
context of the declared direction
52:32.2
of the government to expand renewable energy.
52:34.2
By the way, when you say preferential,
52:36.2
do you know of any
52:38.2
other bidders for this project?
52:42.2
This is just TVI.
52:44.2
And as indicated in our
52:46.2
complaint, that's why
52:50.2
providing that bias.
52:52.2
It's because Secretary
53:00.2
the Secretary in 2022,
53:02.2
disclosed in his resume
53:04.2
a brief background
53:06.2
of his employment
53:08.2
as an independent contractor
53:10.2
of a boyish power.
53:12.2
We feel that that in itself
53:14.2
is conflict of interest.
53:18.2
that is no longer true because he divested
53:20.2
but precisely the old links
53:22.2
make him accountable
53:24.2
in that the moratorium
53:26.2
still stands. The moratorium
53:28.2
when applied should disqualify
53:30.2
the Aboytis Power Coal Plan.
53:34.2
all thrown out of the window
53:36.2
when no less the Secretary
53:38.2
Lutely issued a certificate
53:40.2
of endorsement or approval in favor
53:42.2
of the Aboytis Coal Plan.
53:44.2
Attorney Aaron Pedrosa,
53:46.2
Secretary General, P4P Coalition,
53:48.2
thank you so much for this discussion.
53:50.2
Thank you, Stanley.
53:52.2
And good afternoon to all of us.
53:54.2
And before we go,
53:56.2
media giant ABS-CBN records
53:58.2
an average growth of 85%
54:00.2
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54:02.2
on YouTube since 2020.
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the watch time hours for viewers
54:08.2
consuming ABS-CBN content
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on smart TVs have so far
54:12.2
reached 554.9 million
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using mobile phones
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49.6 million hours.
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The parent company of this
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news channel also notes,
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Kapamilya Online Live,
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which has been livestreaming ABS-CBN
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from these territories.
54:44.2
And those are the latest
54:46.2
in all things business.
54:48.2
I'm Denise Ensay. You can watch highlights,
54:50.2
content of our shows online.
54:52.2
And I'm Stanley Palisada. Subscribe to
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54:58.2
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55:00.2
The Business Roadshow.
