02:34.2
We've identified the skills gap.
02:36.5
Skills today may not be relevant tomorrow anymore.
02:39.0
So continuous upskilling and reskilling is required.
02:42.7
We are here to help them future-proof our labor force,
02:46.7
encourage more employability, turn IT challenges into opportunities.
02:51.4
The goal is to generate one million jobs.
02:57.3
This is the Philippines.
03:00.0
We are the ASEAN.
03:18.2
Hello everyone, I'm Stanley Palizara.
03:20.2
It's 9 a.m. in Manila, 10 a.m. in Tokyo, and 9 p.m. in New York.
03:24.1
The headlines, Asian markets extend or decline
03:26.8
as Wall Street sees one of its worst days.
03:32.1
Here at home, the Philippine Stock Exchange set to resume trade
03:35.2
after a halt due to bad weather.
03:39.2
Also on the weather, Typhoon Gamy now out of the Philippines
03:42.9
and in its wake, over one million people affected.
03:47.8
And later on the show, we discuss beefing up cybersecurity
03:50.4
amid the growth of the Philippine e-commerce market.
03:56.1
We begin with morning trade here in Asia.
05:29.9
We've seen in stocks over the past week.
05:34.0
Taking a look at U.S. futures, though, they could attempt a recovery with all three major indices in the green.
05:43.3
Meanwhile, here are some local corporates' headlines this morning.
05:47.0
BDO Unibank raises over 55 billion pesos from its third ASEAN sustainability bond offer.
05:53.4
It said this was 11 times oversubscribed from the original offer of just 5 billion.
05:58.8
The bonds carry a rate of 6.3% per annum.
06:02.8
Strong demand had pushed the lender to cut short its offer period three days ahead of schedule.
06:09.2
Next to Globe Telecom, the telco giant completes its tower sale and lease-back deal with Frontier Towers.
06:15.9
It closed the last batch of towers for 13 billion pesos, wrapping up the transaction for over 6,000 of such for 85 billion pesos in proceeds.
06:26.7
And finally, Price Corporation.
06:28.8
That's 1.3 billion pesos in the first half net income.
06:32.9
This was higher by 61% year-on-year, although revenues fell flat at 9.5 billion pesos.
06:40.4
Now for the latest on the weather situation in the Philippines.
06:43.4
Typhoon Gami or Carina makes its way out of the Philippines.
06:47.3
The Weather Bureau says a storm locally known as Carina left the country's jurisdiction at 6 this morning.
06:53.9
The northern parts of the zone, however, could still experience rains,
06:57.3
with a storm expected to continue.
06:58.9
Enhancing the southwest monsoon.
07:01.8
As such, the tropical cyclone wind alert in Batanas province has been downgraded to signal number one.
07:07.7
The signal or wind signals, meanwhile, has been lifted in the Babuyan Islands and parts of mainland Cagayan and Ilocos Norte.
07:16.0
Now, disaster response authorities this morning upped the number of reported deaths from the storm to 14,
07:22.0
but the number of validated fatalities remains at 8.
07:25.7
The NDRRMC also said,
07:27.9
some 1.1 million persons in 16 regions were affected.
07:35.0
The Philippine government orders a price freeze in Metro Manila
07:38.8
after the region was placed under a state of calamity due to Typhoon Carina.
07:43.5
The Trade Department says the price control covers essential goods including rice, bread, and fresh vegetables, among others.
07:51.5
The agency adds it is coordinating with its regional offices in the metro to monitor the situation,
07:57.9
guaranteeing the availability of essential goods.
08:01.0
Trade Secretary Alfredo Pascual also warned businesses,
08:05.4
any attempt to exploit the situation will lead to punishments, including imprisonment and substantial fines.
08:11.8
The price freeze is automatically in effect after a declaration of a state of calamity.
08:20.0
The international community, meanwhile, offers support as the Philippines reels from Typhoon Carina.
08:25.9
U.S. Ambassador to the Philippines, Mary Kay,
08:28.0
Carlson says the U.S. Embassy is working closely with local government agencies
08:32.3
to provide assistance to those in need.
08:36.1
Australian Ambassador HK Yu, also sending sympathies to affected communities.
08:41.4
She says Australia is prepared to respond if requested.
08:45.7
The Embassy of Canada also says it is closely monitoring the situation.
08:50.3
Japan's ambassador, meanwhile, sent his thoughts to the families affected by the calamity.
08:56.0
And as for Chinese Ambassador Huang Shiliang,
08:57.9
he says Beijing stands ready to provide help.
09:03.3
The Philippines gets a financial boost that will support green entrepreneurs in the country.
09:08.9
The Finance Department says Manila is among the recipients of a nearly 13 billion peso research program.
09:15.4
This was approved by the Green Climate Fund Board,
09:18.2
the largest global fund created to support climate change mitigation projects.
09:23.0
This will allow Filipino green entrepreneurs to leverage global technological expertise,
09:27.9
and accelerate climate resilience development in the country.
09:32.7
The new outlay brings the fund's total grant to the Philippines to more than 137 million pesos,
09:39.1
covering nine projects.
09:46.6
President Ferdinand Marcos Jr. is attending a situation briefing on Typhoon Carina.
09:51.6
Before the rainfall event occurred.
09:55.9
In July 21, it became a severe...
09:57.9
tropical storm and we raised signal number one in order to...
10:04.9
In Monday, July 22, it became a typhoon category and we had a meeting with Office of Civil Defense
10:15.1
and subsequently, the cancellation of work in the government were cancelled during the afternoon
10:23.4
because then later on in the evening,
10:26.5
we issued an advisory...
10:27.9
because in the forecast...
10:30.9
heavy to intense rainfall...
10:33.1
will be observed...
10:37.0
that was Tuesday, yesterday.
10:42.0
areas in Calab individ
10:44.0
including Mimaro,
10:45.3
M работать,
10:46.5
and the locus region.
10:50.2
there was a coordination meeting with Office of Civil Defense
10:53.7
and subsequently recommended for the cancellation of work
10:57.4
in the government...
10:57.9
and classes in all levels in Metro Manila.
11:03.0
In 2024 July, that was yesterday, it became a super typhoon category.
11:10.4
It made the landfall in Taiwan.
11:14.2
And then, we expect today, it will be outside the Philippine area of responsibility.
11:23.8
Next slide, please.
11:24.9
Shown in this slide are daily accumulated rainfall.
11:30.4
I don't mean to, but we've seen this, we had this briefing yesterday.
11:34.7
Can we focus on what the situation is now?
11:41.3
I remember I asked for a map or a list of the isolated areas that are still isolated, number one.
11:54.3
we can see for ourselves that the typhoon system is going away.
12:01.2
So, where are we now?
12:03.1
Next slide, please.
12:03.9
What is the situation on the ground now?
12:06.8
Where is there still flooding?
12:09.2
Where are there still isolated communities?
12:12.9
That is what we need to know.
12:14.6
Because for all of our agencies to work together,
12:18.1
we need to know where to go.
12:19.7
That's really what I need to hear from you.
12:21.4
Where do we go now?
12:23.0
Which are the places that,
12:24.4
need the most help immediately?
12:28.9
We have actually received information in some provinces,
12:35.4
particularly in Pampanga province,
12:39.6
there are barangays reportedly under flood situation.
12:48.3
Like for example, in Masantol, there are 26 barangays.
12:53.2
Maccabee Bay, 1990.
12:54.2
We have a list actually, Mr. President.
12:58.0
Then, this is actually the status of dam.
13:01.6
Actually, the information is taken from dam operators,
13:05.7
from NPC, particularly for Anggat,
13:09.1
MWSS for La Mesa, and NIA in some major dams.
13:14.8
And most major dams actually are on safe level,
13:22.3
meaning medium-large capacity.
13:24.1
So, we have a list actually, Mr. President.
13:24.3
So, we have a list,
13:24.6
in the normal high water level,
13:27.3
except for La Mesa,
13:30.1
umabot po ng overflow level.
13:33.5
But this morning,
13:35.4
nag-hupa na yung level.
13:38.4
What was the volume of water na umapaw?
13:45.2
the overflow level of La Mesa,
13:49.8
supposedly is eight,
13:54.2
nagiging 80.13 na.
13:58.4
relatively, hindi na
14:02.5
ganun kalakas ang pag-ulan,
14:04.7
kaya we expect na mas
14:05.9
bababa pa ang level ng lamesa.
14:08.5
Then another dam na
14:10.1
nag-open ang gate, ito po yung
14:12.1
Ipo Dam, isang gate
14:14.3
na lang ang opening, very minimal
14:16.5
na ang release ng water.
14:18.3
Then the other dams are actually safe.
14:23.3
Mr. President, what to expect
14:25.5
in the next three days.
14:27.0
Although we expect heavy and
14:29.2
occasional intense rains in Metro Manila,
14:33.1
this will improve
14:38.0
provinces in Ilocos region,
14:41.7
CAR, Central Luzon,
14:43.5
Calabasas, and Occidental Mindoro.
14:46.0
Then tomorrow, we
14:47.2
expect much improved
14:48.9
weather condition, particularly in
14:52.8
Ilocos region, except for
14:56.3
moderate to heavy rains pa rin
14:58.7
ang mga karanas, ang mga provinces
15:01.0
ng, for example, Sambales,
15:03.0
Bataan, and Binggit.
15:05.2
Then, by Saturday,
15:07.1
we expect much improved
15:09.1
moderate to heavy rains pa rin,
15:10.8
ang mga provinces
15:12.8
ng, for example, Sambales, Bataan,
15:17.0
Then, by Saturday,
15:19.4
we expect much improved
15:21.1
weather, except for the
15:22.8
provinces of Sambales and Bataan,
15:25.4
na makakaranas pa rin ng
15:26.7
moderate but occasional
15:30.8
Then, next week, we expect
15:32.8
much or good weather condition.
15:36.0
That's all for my
15:37.0
short presentation, Mr. President.
15:38.8
Alright. Thank you.
15:44.8
I should go there.
15:56.9
any more briefings that
15:58.6
we need to hear from?
16:02.7
Sige, DILG segment.
16:04.3
Mr. President, this is with reference
16:07.0
to the DILG report.
16:15.7
Okay. NDRMC muna.
16:22.8
and distinguished cabinet secretaries
16:25.2
and colleagues, we'll be
16:26.8
briefly reporting on the
16:29.0
summaries and aggregated
16:31.3
reports on the impact of the
16:34.3
abagad. But we'll skip
16:37.1
on the slides that were already touched by
16:38.8
Pagasa. Next slide, please.
16:42.0
Next slide, please.
16:45.1
As of today, Mr. President,
16:46.9
officially, as of
16:49.0
10 p.m. last night, the report
16:51.0
on the casualty is still 13,
16:52.7
but this morning, though we have to
16:54.8
validate, there are
16:56.0
two more reported casualties
16:58.9
from Metro Manila.
17:01.2
So this will be potentially
17:04.8
And the affected population
17:06.7
for the 17 regions
17:20.9
be reported later on by
17:22.7
Because seven regions exclude
17:25.2
the Metro Manila report.
17:27.3
So we'll integrate that, sir.
17:29.7
There are already
17:31.1
declarations of state of
17:33.2
calamities. One in,
17:35.3
of course, Metro Manila.
17:37.1
And then in the provinces, two.
17:39.0
Cities and municipalities, three.
17:41.1
And one barangay. But we are expecting more,
17:43.0
Mr. President. From unofficially
17:45.3
this morning, we were informed that
17:47.0
10 more will be declaring at least
17:48.8
the SSC. But this report,
17:55.5
NCR already declared, sir.
17:59.7
already declared also.
18:02.1
And there are municipalities,
18:06.2
Actually, ang naging focus natin is Calabarzon,
18:13.3
So, what's the situation
18:20.5
Nag-declare na rin, sir, ang wala pa, sir,
18:26.9
we're expecting Laguna also
18:29.5
What we need to know now is what is the situation
18:32.9
din? May tubig pa ba? Pwede ba natin
18:34.8
ipasok? Kailangan ba natin
18:36.9
maglinis ng putik? Ano bang...
18:44.7
is what is the situation
18:46.8
as of this morning?
18:48.6
And where do we go? Where do we
18:50.8
send our people? Where do we send our equipment?
18:52.7
That's what we need to
18:54.8
define, to decide now.
18:58.5
you know, it's not only...
19:00.0
Nandito tayo sa NCR, but it's not NCR only.
19:03.3
It's Region 3, Calabarzon,
19:04.8
4A. So, kailangan natin
19:10.4
We have to make an
19:12.6
assessment as to where
19:14.4
are the areas that
19:16.1
should be prioritized
19:18.0
for assistance, for
19:20.5
rescue. May rescue pa
19:23.3
We have a slide on that later.
19:25.4
Can we get to that so that we can
19:28.1
issue instructions already as to
19:32.6
what to do, and how to
19:36.7
which of our resources will be sent
19:39.0
Yes, sir. Next slide.
19:43.9
Nawala yung slide.
19:46.2
We're supposed to
19:47.1
have a slide, Mr. President, on
19:48.6
how many distress calls for
19:52.7
accept, were received yesterday.
19:58.5
them to be rescued.
20:00.4
As of 10 p.m. last night,
20:02.2
6 pa lang yung successfully rescued.
20:04.0
But as of this morning,
20:05.7
30 na po yung na-rescue natin.
20:07.5
But, to understand also,
20:10.3
pag yung may target na i-rescue,
20:12.3
Mr. President, along the way,
20:14.9
na hindi na maka-capture nung report,
20:16.5
meron din talagang idadagdag na i-rescue
20:18.5
because it will not be
20:20.6
proper for our rescuers.
20:22.7
NGUs and Coast Guard,
20:24.5
napupuntahan lang yung nag-requests.
20:26.3
Along the way, nire-rescue din natin yun.
20:28.5
Kaya MMDA has been a big help.
20:30.1
Once again, this is only NCR.
20:31.9
I need a nationwide report.
20:35.4
The typhoon didn't only hit NCR.
20:40.0
We'll coordinate with Pag-asa rin, sir,
20:42.0
yung binigay nilang list kanina.
20:45.8
what I need to know,
20:47.9
what we need for us to be able
20:50.0
to decide what to do next,
20:52.7
we have to understand
20:56.4
almost, it's not very useful
20:58.5
for me to hear that 164
21:00.6
requests for rescuer were made.
21:02.9
That means nothing.
21:08.7
from one place. Do tayo pumunta
21:12.0
20, dito lang, nilima lang dito,
21:14.4
tatlo lang dun, dalawa lang yun dito.
21:16.1
I need to understand where
21:17.8
we need to immediately
21:20.7
send our resources.
21:22.7
We have to have a more granulated
21:27.0
Hindi pwede yung national
21:32.1
got the report, you keep
21:33.9
talking about Ilocos, I talked
21:40.0
and the congressman is here,
21:42.0
sabi, hindi naman ganun kagrabe.
21:44.7
I thought from the report
21:46.1
that we were hit very hard.
21:47.8
But these are the things we need to know.
21:50.5
How, where do we go?
21:51.9
How do we prioritize our assets?
21:54.7
Et cetera, et cetera.
21:55.6
Yes, sir. We'll get this this morning, sir.
21:58.2
As of 10pm kagabi,
21:59.7
our people are still
22:01.0
nasa rescue mode pa
22:03.9
hula at kagabi, sir.
22:07.3
Like, for example,
22:09.6
your 156 distress call,
22:12.5
alin yung pinakamarami?
22:14.7
Stan, saan ang pinakamarami
22:17.4
Sir, we will summarize.
22:22.7
Oh, puro NCR tayo eh.
22:24.5
Okay, we don't actually need to be briefed
22:27.4
on NCR because we're here.
22:29.0
We can see it for ourselves.
22:30.5
What about the other places?
22:36.8
When we get to the response
22:39.2
side namin, it's granted.
22:41.3
Let's have it. That's what we need to see.
22:43.6
That's really what we need to see.
22:47.2
There's only one slide from DSWD.
22:51.9
Mr. President, so
22:54.8
as of last night, as of 12 midnight
22:58.6
we've managed to release
23:04.2
family food packs.
23:05.7
It's broken down as follows.
23:09.6
171,000 sa Central Luzon.
23:13.4
by province, but I just didn't put it here na.
23:23.8
There were portions niya na...
23:26.0
I don't know if it's part of the Habagat
23:28.1
kasi na nahila papunta doon.
23:31.8
for Region 5, we had
23:34.0
20,000. It's small lang naman.
23:36.1
Mr. President, this is granulated.
23:37.9
When we say release, they're either
23:40.1
in our field office already,
23:42.0
waiting to be picked up. Kasi when we spoke
23:44.1
to the mayors, lahat sila yesterday,
23:46.1
they were in rescue mode muna.
23:48.2
That's one. Number two, they said
23:49.9
their equipment still cannot get out of
23:53.9
So, sakin nila, we have our own goods.
23:56.1
We'll use yours for the augmentation.
24:00.0
right now, today,
24:01.5
LGUs are picking up. In fact, yesterday, I
24:03.5
touched base with the Metro Manila mayors, also
24:05.7
the governors of Central Luzon. Lahat sila,
24:08.2
they're in that mode yesterday ng
24:09.7
focus rescue muna. Yung mga na
24:11.9
sa evacuation center namin na around
24:15.9
ano muna sila, we'll take care of them.
24:17.9
But that they will come, I mean, today will come
24:19.9
na we need augmentation already.
24:21.9
So, Mr. President, the 360,000,
24:24.0
they're either being picked up as we
24:25.9
speak, already deployed as of
24:27.9
last night, but they're all in the ground na.
24:30.4
Now, it's noteworthy to
24:31.9
point out, there's another 100,000
24:33.8
requests that came in after
24:35.7
12 midnight last night. So, it will
24:37.9
bring us to 500,000 family
24:39.8
food bags. We're ready to supply that.
24:42.0
We're just waiting for the LGUs to pick
24:44.0
them up. Kasi yun ang normal arrangements because
24:45.9
they have the trucks. Well, we only
24:47.8
have one or two trucks. But,
24:50.0
Mr. President, so this is spread across.
24:51.9
Rest assured that we can
24:53.2
supply the needs of
24:55.8
the LGUs. And one
24:58.0
more point, Mr. President, yung issue natin
24:60.0
last weekend sa Mindanao, we're still continuing
25:02.0
with that. We haven't stopped
25:03.8
providing the request ng
25:05.8
BARM area because they also needed
25:07.7
augmentation. That's Maguindanao
25:09.5
del Norte, del Sur, and Lanao del Sur.
25:12.2
So, tuloy-tuloy rin ho tayo doon.
25:13.8
Yes. Hindi rin natin binibitawan yun. That's
25:15.8
being serviced out of our field offices
25:27.3
information for us on the local
25:29.2
government side. Good morning,
25:31.4
Mr. President and the fellow cabinet
25:35.0
Can we have the slide, please?
25:40.2
Direkta na rin sa details.
25:41.5
Okay. Ito po yung mga state
25:43.2
of calamities na nag-gather po namin.
25:45.2
So, buong NCR na,
25:47.8
Oriental Mindoro, Batangas,
25:49.6
Cavite is already province-wide.
25:51.9
Pataan and Bulacan are also
25:54.1
province-wide. Next, please.
25:57.8
Now, ito po yung presence ng ating local
25:60.0
chief executive. Halos lahat po
26:02.1
talagang on the ground po sila, no?
26:04.8
Talagang jump new po
26:06.0
makikita na talagang gumalaw,
26:08.1
lalo na sa mga sensitive areas. Next, please.
26:12.1
If we're going to base it on the
26:14.0
evocation areas, talagang
26:16.0
ang pinaka-affected is NCR
26:20.2
4A and 4B, and the
26:21.8
Region 3. Diyan po, lumalabas
26:23.9
dito. Next, please.
26:26.7
Ito po yung mga roads
26:27.8
and bridges na nag-gather namin
26:29.9
na medyo not possible
26:31.5
and closed bridges.
26:35.2
NCR ang tinamaan. Next, please.
26:39.8
interruptions. Ito po kailangan dahil
26:41.7
kahapon may mga nakukuryente na dahil
26:43.5
tumakas yung tubig sa amin sa Mandaluyong. Marami
26:45.6
nakukuryente. We have to close down the power,
26:47.8
Mr. President. But right now, we're
26:49.7
asking na umeral ko na ibalik na po ang
26:54.7
Well, ito po yung assignment po
26:56.0
kahapon yung dams and
27:00.2
may ipo dam, may malanak dam,
27:01.9
may binga dam, may lamesa dam, at
27:03.9
tinawagan na rin po ang mga LGUs
27:06.0
tungkol dito. At I've even
27:07.9
contacted yung pong
27:11.1
may standing protocols
27:13.8
naman po. We just want to make sure na protocols
27:15.9
ay talagang na-impose po nila
27:17.2
with the LGUs. So, yan po yung mga
27:19.7
number of families who were evacuated.
27:21.6
Na malapit po sa mga dams, no?
27:23.5
Kung titignan po natin talagang ang bulakan ay
27:25.5
medyo na-apektohan. Tama po
27:27.8
ang lamesa dam ay nagpakawala ng tubig
27:29.5
kahapon dahil sumagad na po.
27:31.6
Pero, handa naman po si Mayor Joy
27:33.7
na pagsabihan po kaagad yun sa downstream.
27:39.8
yung mga notices na, inano po?
27:44.1
Okay. Eto po yung
27:45.9
hard-hit areas na nakikita
27:47.9
namin, aside from NCR,
27:50.2
eto pong mga lugar na to.
27:51.6
Sa Bataan, Abukay,
27:54.7
yan po yung mga immediate
27:55.6
needs na kinakailangan nila
27:57.4
based sa mga tawag po. Even sa
27:59.7
Rizal, sa Badangkainta, San Mateo,
28:02.0
Morong, Rodriguez, outside
28:03.8
of Metro Manila, and parts of
28:09.8
If you're going to base it on the flooded
28:11.7
areas, eto po ang region
28:13.7
3, 4A, 4B, at NCR.
28:16.4
Yung pong mga nakalagay na immeasurable
28:18.1
ang medyo matataas.
28:19.8
Parts of Bulacan,
28:21.6
and of course, parts of Metro Manila, na hanggang
28:23.5
ngayon, medyo yung iba, halos hanggang
28:25.8
bubong pa po, Mr. President.
28:28.5
I'll give to you these
28:29.7
details po sa office po.
28:33.9
Eto po yung number of casualties,
28:37.9
for verification is actually
28:44.2
Ito po yung mga missing persons, no?
28:46.0
For verification, dalawa. Next.
28:51.6
ang kailangan siguro, ang pwede po natin
28:53.9
magawa, ang nangyayari po
28:56.0
kasi ito yung putik. Kamukha
28:58.0
nung araw, yung sobrang...
28:59.8
Na hanggang tuhod daw yung putik.
29:01.7
Yes, sir. Anyway, andito lang po si Don Artes,
29:04.1
nag-usap po kami, meron sila pagtanggal ng putik.
29:06.3
Yung mga high power, no?
29:08.0
So siguro po, mga LGUs, magtulungan na lang
29:10.1
yung na-importante tubig.
29:11.9
Pangalawa po, yung leptospirose.
29:14.8
Makakalat po ito.
29:15.9
Department of Health siguro yung mga gamot
29:17.6
for lepto, dahil sa mga flooded area.
29:25.4
lootings, no? So we've
29:27.6
already, ano, mga PNP on the ground
29:29.5
para bantayan po yung mga ito.
29:31.4
And of course, yung pong kuryente, malumbalik
29:33.7
na lang po, Mr. President.
29:35.4
Okay. That's all, Mr. President.
29:36.8
Thank you. Since many really of the...
29:39.8
because it's a highly urbanized...
29:41.4
Mayor Francis, you can give us
29:43.8
an update. Ano ba talagang
29:45.4
sitwasyon sa NCR? Where are the
29:47.5
places that you have identified
29:49.2
na talagang nangangayari?
29:51.6
Kailangan ngayon. Kailangan natin puntahan
29:53.7
kagad. And where are the...
29:55.7
What is the situation in each place?
29:59.2
Kasi phases yan, di ba?
30:01.1
Rescue phase, tapos relief phase na.
30:05.2
Nasaan yung mga lugar na rescue phase pa rin
30:09.3
Nasaan yung relief phase?
30:11.0
Saka rebuilding phase na yung susunod din.
30:13.3
After that. So where...
30:15.3
Anong assessment mo dun sa
30:19.3
Yung Kamanava area po talaga ang
30:21.6
maan, Mr. President.
30:22.9
Kaluhukan malabon na vote as Valenzuela.
30:25.1
And of course, Marikina po.
30:26.7
Ausap ko si Congressman Toby.
30:31.3
Tumahog sa akin, 6.30, sabi niya.
30:33.2
Talagang nabaha sila.
30:35.3
Because there was a problem with the
30:39.7
If I can jump in, kasi
30:43.2
That flooded district is
30:45.5
my former district.
30:48.4
Yung sinasabi ni Mayor
30:49.8
Toby is the flood wall.
30:58.4
But yung amin, ang problema
30:59.7
namin will always be my Kawayan River.
31:01.9
We share that boundary with
31:03.4
Bulacan already. So whenever
31:05.5
sabay-sabay na yung rainfall,
31:08.0
even the pumping stations, hindi na
31:09.8
kaya. Even the tidal gates, hindi na kaya.
31:12.8
You have 11 pumping stations now
31:15.5
na the overworking
31:21.6
We have 11, hindi pa rin kaya.
31:30.1
ang pinakamalaking evacuation po is
31:32.1
in Quezon City with 22,000.
31:34.3
The biggest, si Mayor Joy.
31:36.1
Pero eto po, up to now, nag-evacuate po
31:38.1
dahil maraming matitikas ang ulo.
31:40.1
Kumisa nasa bubong na.
31:41.1
Ayaw po umalis. Kaya pwede na yung sana ng mga polis
31:43.9
kasama mga mayors.
31:45.1
Mayroon masisi yung tao eh, but they really have to leave.
31:51.6
So, is there any other issue or any other issue
31:52.8
that we can have a look at?
31:57.0
Tuloy-tuloy mo lang.
32:01.1
Ito yung nakita natin, kapo.
32:10.4
Philippine President Ferdinand Marcos
32:14.1
receiving a briefing from
32:15.8
vital government officials about
32:17.5
the actual situation in areas
32:19.2
affected by flooding since
32:21.6
Yesterday, he has ordered these heads to provide a more concrete and detailed report as to the areas that have remained affected as of today.
32:30.7
So rescue relief and rehabilitation can be sent to these areas immediately and accordingly.
32:37.1
He also received the latest casualty report still saying the NDRMC death count is still at 15, 13 confirmed and 2 being verified.
32:50.2
And so far, based on those reports as well, 910,000 residents have been affected by yesterday's floods in various parts of the country.
32:59.9
He'll try to give you more updates and more as they develop within the day as more reports are coming in from the flood-affected areas.
33:08.8
We can give you a clear picture in about an hour or two.
33:12.5
Moving on, the U.S. agency has projected that Philippine e-commerce market could reach $24 billion next year,
33:19.4
driven by Philippine...
33:20.2
Philippine's increased comfort with online platforms.
33:23.7
But with this growth came the rise of scams and fraud.
33:27.2
AppDome, a leading cybersecurity platform, is at the forefront of protecting the Philippines' digitalization efforts.
33:34.2
And here to discuss their work, we have AppDome CEO Tom Tover.
33:37.7
Tom, good morning.
33:40.2
And first off, my heart goes out to all impacted by Carina.
33:45.1
And I wish everyone health and safety and all of that.
33:50.4
Thanks for inviting me here.
33:52.7
Thank you so much for your concern.
33:53.8
It's good to have you on the show to discuss cybersecurity.
33:56.3
The latest Central Bank reports an acceleration of digital banking and e-commerce usage in the Philippines,
34:03.0
which is at about 50 percent, with a goal, of course, of bringing this up to 80 percent in the next five years.
34:09.9
This means more people in the e-commerce space and more potential targets of scamming.
34:15.1
Can't stress enough how important consumer privacy is right now.
34:18.7
Please give us a sense, perhaps.
34:20.2
Of what is possible in terms of the damage, how good have fraudsters become in recent years?
34:27.4
So the first thing I'd like to point out is that the Filipino economy is a very mobile-centric economy.
34:35.4
In fact, it's one of the areas in the world that leads in its mobile adoption, its mobility, its use of applications and things like that.
34:44.8
So whereas globally, the number of mobile applications that people use is about 8 to 10.
34:50.2
Maybe 12 in the Philippines, as high as 18 to 20 apps per day.
34:55.1
So clearly, the Philippine market is mobile and mobile first.
35:00.3
And so I think that's the first thing I want to kind of point out.
35:04.1
But as you mentioned, this incredible growth of new platforms, new technologies, new ways of doing commerce has really attracted a lot of fraudsters.
35:14.1
And with AI coming on the scene, certainly with voice phoning, face ID.
35:20.2
Bypass, things of that nature, sort of deepfake-type face swapping and things of that nature.
35:26.8
The risk has gotten very, very, very significant.
35:30.5
So these days, I would say globally, you have one in four people, so about 25% people who have been scammed.
35:41.0
Although here in the Philippines, it's actually higher than that.
35:43.7
You're about 40% who have faced some sort of social engineering or scam in the past year.
35:50.6
So unfortunately, yeah, it's a very active time for the attackers.
35:54.3
Yes, Tom, you know, these threats really help breed trust issues.
35:57.8
I mean, I, for one, am wary of getting apps or even responding to possibly even the legitimate promos and other offers
36:05.0
because scammers are becoming more and more cunning, more clever.
36:08.9
How are distrustful consumers now affecting businesses,
36:13.4
especially those that really have legitimate enterprises and organizations who are banking on their e-commerce platforms?
36:20.2
Yeah, so definitely the pendulum shifted.
36:25.7
You know, in the early days of the mobile explosion, the responsibility was on the user, sort of buyer beware to protect themselves.
36:33.9
These days, a lot like what you're talking about, the consumer is really looking to the brand,
36:39.2
the provider of the application to deliver the protections that are needed to keep their experience safe.
36:45.9
So about 98% of consumers globally say, hey, really, it's the brand.
36:50.2
It's the brand's responsibility not only to protect their privacy and their data and their login,
36:55.4
but also protect them from the more advanced threats like malware, fraud, and so forth,
37:00.3
with, again, roughly about 95% of the people preferring fraud prevention as opposed to fraud reimbursement.
37:08.6
Like people say, I'd rather not go through it than anything else.
37:12.1
But there is a silver lining.
37:14.7
Filipinos and global consumers also report in high numbers, about 96%,
37:19.8
that they're willing to reward the brands that actually protect them from malware and things of that nature.
37:27.3
So I think there's a good news in all of it.
37:31.0
And of course, AppDome is offering mobile app security solutions.
37:36.8
Tell us about the app, what it does, and why it's important for consumers to adopt a security solution like this one.
37:43.5
Yeah, so I mean, I think in all walks of life, and certainly during something as horrific as Carina,
37:49.8
is, you know, people rely on their mobile devices.
37:53.2
They rely on apps to send aid, to communicate with each other, to celebrate, to share, to purchase, all of those things.
38:02.2
And up to the cyber community and the brands that provide these applications to really keep the user safe,
38:10.5
not only during everyday times, but in critical times like we're facing in the Philippines right now.
38:17.7
So what AppDome does is,
38:19.8
we have a platform that utilizes machine learning to code everything for the brand.
38:26.9
So to make it easy on them to deliver the protections that Filipinos need and want,
38:32.5
to make it easy on them to solve these sophisticated attack vectors and close them down and stop the attackers.
38:39.1
So if you're really looking to deliver on the promise and the requirements of the mobile end user,
38:46.1
you know, AppDome's the way to go.
38:47.4
It's just easier, click of a button, and everything gets protected.
38:49.8
So that's what we do.
38:52.0
And you're also, I mean, advocating, you know, incorporating such solutions as the start of the development of the app.
38:59.7
And part of the goal is, of course, for e-commerce app developers to implement AppDome solutions.
39:05.3
What are the advantages of incorporating security in the onset of app development?
39:11.0
Yeah, I mean, I'm a big believer, just like in anything in life, that an ounce of prevention is worth a pound of cure.
39:16.4
So I think if we can take the steps as a community,
39:19.8
and certainly through our product, it's one of our design principles, it's one of our missions,
39:25.6
is to help organizations deliver secure mobile applications from day one.
39:31.6
And if we can do that by making it easy, removing the friction from the development process,
39:37.3
removing the conflict between dev and cyber, and giving people technology that makes their job easier,
39:43.1
makes it easier for them to deliver on these anti-fraud, anti-malware, social engineering defenses,
39:49.8
block phishing, block smishing, those kinds of attacks.
39:53.2
I think if we can do that and help bring that from day one, then everybody benefits.
39:58.1
And I really love this because I feel like we're doing a good for everyone.
40:03.4
I mean, it's cyber security and cyber protection is just as important as every other kind of protection in the world.
40:11.5
And it's critical to all of us.
40:14.5
On that note, Mr. Tom Tover, CEO of AppDome, again, thank you so much for joining us this morning.
40:21.1
Really appreciate it.
40:23.0
Time for a quick break.
40:23.8
Coming up, the PSEI back online after a halt in trade.
40:26.6
We take a look at the opening numbers with Jape Tantiangco of Pilsax Financial.
40:30.1
Market Edge will be right back.
41:19.8
Thank you for watching!
41:49.8
Thank you for watching!
42:19.8
Thank you for watching!
42:49.8
We have allowed more transportation to come out.
42:53.1
That's going to prove to be better for demand.
42:56.3
If we do follow the health protocols,
42:59.1
the ability of people to move around will likely contribute better to growth.
43:19.8
Thank you for watching!
43:49.8
Thank you for watching!
44:19.8
Thank you for watching!
44:49.8
The Securities and Exchange Commission rolls out regulations on the sale of condominiums
44:54.3
and other real estate assets to protect investors' interests.
45:00.2
Trading at the Philippine Stock Exchange resumes this Thursday.
45:03.3
For its opening, the main index is down by a percent, falling back to 6,600.
45:08.7
Jafet Antianco of Philstocks Financial now joins us for a market chat.
45:12.5
Hi, Jafet. Welcome to Market Edge.
45:15.2
Good morning, Stanley. Thank you for inviting me.
45:17.5
Good to have you here. Hope you're safe.
45:19.8
Now, a study by the Asian Development Bank has released in 2019
45:23.7
a negative impact of typhoons in the Philippines' economy
45:28.0
with frequent and low-damaging typhoons likely to reduce local economic activity by 1%,
45:33.6
while rarer and more intense typhoons can cause a reduction of up to 3%.
45:39.8
Now, Typhoon Karina comes at a time when we're managing inflation.
45:44.7
So, how significant do you think would the impact be
45:47.3
considering that damage and effect are coming from typhoons?
45:49.8
Concentrated in the NCR and some of the biggest economic contributing provinces nearby.
45:57.7
Well, so far, as we look upon it, yes, it may have somehow significant impact on our local economy.
46:07.0
I mean, first things first, if you're going to look at the sectors, sectors-wise,
46:12.2
first, the very on top would be the agricultural sector.
46:17.7
As you've mentioned, the typhoon.
46:19.8
The typhoon has, you know, has crossed some of our agricultural-based regions here in the country.
46:29.0
So, the typhoon will have significant effect in terms of agricultural production.
46:35.4
And as we all know, the Philippines is quite, you know, sensitive with respect to food inflation.
46:42.8
I mean, even before the typhoon, we are already having challenges with respect to the agriculture.
46:49.8
The agricultural productivity of the country, which in turn is leading to, you know, inflation with respect to agricultural commodities.
46:59.5
And with the typhoons passing right now, then that problem could be aggravated.
47:04.8
And of course, we also saw some flights cancelled because of the typhoon.
47:09.9
So, even the tourism sector is affected.
47:12.3
Region-wise, as we've seen, the hardest hit was the National Capital Region.
47:17.0
And as we all know, the National Capital Region,
47:19.8
is the biggest region in terms of economic production.
47:24.1
And we've seen that just yesterday, most of the economic activity has been put to a halt because of the typhoon.
47:31.7
And of course, this will also have a negative effect on the overall economy of the Philippines.
47:36.1
All right. Now, what about prices?
47:38.9
You know, there is an existing price freeze because of the declaration of a state of calamity.
47:43.3
But in terms of supply, how big an effect do you think will this typhoon have on food supply?
47:49.8
Well, it is expected to have a significant impact on food supply.
47:57.8
I mean, if you've seen the past typhoons before, you know, it's based, as far as my memory is concerned,
48:08.6
on damages to crops that are reaching billions of pesos.
48:12.1
And with the typhoon as strong as, with the strength that typhoon Carinas showed,
48:18.2
then, you know, we...
48:19.8
We could expect the same, or even higher, higher cost of damages.
48:25.2
And, of course, supply will somehow be crippled.
48:29.6
We will be more dependent towards foreign, towards the foreign market for...
48:36.6
Yes, importation for our food.
48:39.5
Okay. Now, Japheth, Carina now comes at a time when we are really in the cusp of easing policy rates,
48:45.6
if the August timeline by the Banco Central holds.
48:48.8
Now, how possible is it...
48:49.8
How possible is it that this calamity at hand can alter those timelines,
48:53.0
especially if the effects pose some speed bumps towards downward inflation?
49:00.2
Do you think that's possible?
49:01.5
Well, it depends on how the government will resolve the said issue.
49:07.9
Remember, by the end of the day, the impact of typhoon Carina is still more on the supply side.
49:13.2
And take note that the BSPs, what the BSPs really targeting is the demand side of inflation.
49:19.8
And so far, we've seen that the demand side of inflation is already put under control.
49:28.2
Whereas the supply side, it's been put under control before.
49:32.6
But right now, with typhoon Carina, so, of course, it's going to pose a challenge.
49:39.4
If we can address...
49:41.7
If we can address the food supply, the possible shortage of food supply
49:47.5
stemming from this typhoon immediately,
49:49.8
if we'll be able to address that immediately for it not to cause high inflation expectations,
49:56.2
then there's still the possibility of a rate cut by the BSPs' upcoming meeting.
50:02.9
Now, market was closed yesterday due to inclement weather.
50:06.4
And today, we will see how the market would price in typhoon Carina.
50:09.7
But as it is, we're already down 1% at least.
50:13.2
How do you think will the market move for the rest of the day?
50:17.8
For the rest of the day,
50:19.1
we see the local...
50:19.8
We see the local market moving with a downward bias.
50:22.2
First and foremost, you have the sell-off of Wall Street overnight.
50:27.8
And based on studies, based on statistical studies,
50:30.9
there's a positive correlation between the S&P 500 and the local market.
50:36.4
In fact, based on our estimates so far,
50:38.8
if you're going to regress the S&P 500 to the PSEI
50:43.4
while holding other factors...
50:46.1
while taking control of other factors as well,
50:49.8
such as interest and percent of peso,
50:52.2
the slope is at about 0.80.
50:55.8
Meaning, if the S&P 500 declines by one point,
50:59.1
then there's a tendency for the PSEI to decline by 0.80 points.
51:05.7
And at the same time, of course, investors are also factoring in.
51:10.6
They're also pricing in the economic damages done by the typhoon Carina.
51:19.3
And, of course, finally,
51:20.9
of course, investors are still looking for further catalysts.
51:24.7
So, with all of these negative factors at play,
51:27.7
you have the decline in S&P,
51:29.5
you have the economic damages from typhoon Carina,
51:32.8
and with no busted catalysts so far,
51:36.2
then we expect the market to move with a downward bias today.
51:40.3
Downward bias still within the current range of the market,
51:43.2
which is 63 to 6,800 level.
51:46.5
At least, that was the level when we closed Monday.
51:49.3
Now, a notable chunk, though, of investors dumped property stocks, Japheth,
51:53.3
when the President declared BOGOs as illegal.
51:56.5
Are you still expecting some sell-off on property names today?
52:01.4
For the property sector, possible, given...
52:07.3
Of course, it's possible,
52:10.4
given that sentiment towards the property stocks are negative
52:19.3
due to the running of BOGOs in the country.
52:21.8
But eventually, we expect it to be corrected.
52:26.0
We expect bargain hunting soon in the property sector.
52:30.4
I mean, the sell-off that we're seeing is,
52:34.0
for us, it's mainly sentiment-driven.
52:36.8
If you're going to look at the fundamentals,
52:39.3
so far, with respect to the BOGO issue,
52:44.0
many of those stocks that have been sold off only have minimal.
52:49.3
They only have a small exposure to BOGOs,
52:52.7
the likes of Ayala Land, Megaworld, FLI.
52:56.3
In fact, I even saw SMPH sold off
52:58.9
when, in fact, it doesn't have any exposure to BOGOs anymore.
53:02.1
Direct exposure to BOGOs anymore.
53:05.0
The only stocks that we see that have high exposure to BOGOs are,
53:08.9
of course, DDMPR.
53:10.7
And it's, of course, Double Dragon and Final DMW.
53:13.6
So, except for the three,
53:15.7
for the rest of the stocks,
53:17.3
for the rest of the property stocks,
53:19.3
we may see some bargain hunting moving forward,
53:22.4
which, of course, would lead to their rebound.
53:25.6
And lastly, Jaffet, and speaking of sentiment now,
53:28.2
many analysts on the show have been pegging 2024 PSE finish
53:35.2
and we are nearing those levels really now,
53:37.7
given this uptrend.
53:39.1
Is there any indication that we can do better than that?
53:41.8
I mean, we have five more months to prove
53:44.1
that this market is really rallying and improving.
53:49.3
Well, based on our estimates,
53:52.2
or based on our computation of the fair values of the index members,
53:59.0
the local market should, at fair value,
54:02.6
the local market should be at around 8,170.
54:06.3
But that's from a fundamental standpoint.
54:09.2
Let's face it, the local market is,
54:11.7
the local market is really more sentiment-driven
54:14.5
rather than fundamentals-driven.
54:19.3
good corporate results that we've seen in the past,
54:24.4
recently, or in the past years,
54:27.6
stocks really haven't risen that much
54:31.8
because of negative sentiment.
54:34.6
So, the question is,
54:36.3
towards the end of the year,
54:37.5
can we see better levels for the PSEI?
54:40.3
Of course, that would depend on how the narratives will develop.
54:44.6
We're still pinning our hopes on the rate cut
54:47.7
of the BAP Central and Pilipinas.
54:51.4
then there's the possibility that the market would rally.
54:54.6
I mean, technicals are already improving.
54:58.4
The market has been moving at an uptrend recently.
55:01.6
The MACD is moving upwards,
55:04.2
signaling positive momentum.
55:07.1
And finally, the market is about to undergo a golden cross,
55:10.3
wherein its 50-day exponential moving average
55:12.4
will cross above its 200-day counterpart.
55:15.2
So, technicals are bullish so far.
55:16.7
It's just that value turnover,
55:18.9
meaning many are still staying on the sidelines.
55:22.6
So, we really need support from many investors
55:26.0
for the market to continually rise.
55:28.9
And for that, as mentioned,
55:31.2
we are pinning our hopes on the rate cut,
55:33.6
on the possible rate cut of the BAP Central and Pilipinas.
55:37.7
then yes, we may see a further rally for the local boards,
55:41.7
which could even reach 7,000 to 7,200.
55:47.7
Jaffet Anteago, Phil Saxon,
55:49.8
thank you so much for joining us today.
55:53.3
You're very much welcome, Stanley.
55:56.7
a business group lauds President Marcos' move
55:58.9
to ban offshore gaming operations in the country
56:01.2
in his third State of the Nation address.
56:03.7
The Makati Business Club says
56:05.2
this proves that Marcos can quickly act
56:07.3
on issues hounding the business space.
56:10.2
It adds that the Pogo ban is among the hits
56:14.8
The education in Tivit.
56:17.4
We want to thank President Marcos
56:18.9
for integrating tech work into senior high.
56:22.0
This will help employability of K-12.
56:28.2
Starting with agriculture is,
56:30.8
is the right way of going through
56:33.8
all of the sectors of industry.
56:35.9
The third one is power.
56:37.9
Investors, of course,
56:39.0
look for affordability and reliability,
56:41.6
especially when you have power-intensive industries
56:44.5
like manufacturing.
56:46.5
The completion of the critical infrastructure
56:48.9
is a link between Visayas and Mindanao,
56:50.9
as well as the President's call for EPIRA,
56:53.7
may be timely and may be an opportunity
56:57.4
to create, enable, job-creating investments.
57:01.0
And lastly, Pogo.
57:02.7
Thank you, President Marcos,
57:06.1
for your immediate action in banning Pogos.
57:11.8
And that's it for the show.
57:13.3
I'm Stanley Palisada.
57:14.3
Thank you so much for watching.
57:15.3
You can listen to our interviews again
57:16.9
on the ANC Market Edge podcast.
57:18.9
Available on Spotify.
57:20.2
You can also watch highlights,
57:22.2
and exclusive content of our shows online.
57:24.0
Subscribe to the ANC YouTube channel,
57:26.3
like us on Facebook,
57:27.2
and follow us on X.
57:28.6
Stay safe and stay with ANC.
57:48.9
I'll see you next time.
58:18.9
We have allowed more transportation to come out.
58:22.1
That's going to prove to be better for demand.
58:25.3
If we do follow the health protocols,
58:28.1
the ability of people to move around will likely contribute better to growth.
