Category: TRIVIA


TRIVIA 0016: DEVELOPMENT BANK OF THE PHILIPPINES VS. ROBERTO ONGPIN

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August 9, 2011

TRIVIA 0016: DEVELOPMENT BANK OF THE PHILIPPINES VS. ROBERTO ONGPIN

 

MANILA STANDARD TODAY

09 August 2011

 

Ongpin: DBP lawyers misleading public

Former Trade and Industry minister Roberto Ongpin said Monday that lawyers of the state-owned Development Bank of the Philippines are misleading the public about the loans extended to his company to finance the acquisition of Philex Mining Corp. shares in 2009.

“For obvious reasons, they simply ignore the fact that these loans were completely above board, fully collateralized, have been fully paid and in fact were extremely profitable loans for DBP,” Ongpin said in a statement.

Ongpin said DBP lawyers had also made a big issue out of the P625,000 paid-up capital of Deltaventure Resources Inc., which he owns. The lawyers claimed the loan of P510 million was “816 times” more than the paid-up capital of Deltaventure.

Ongpin said Deltaventure’s paid-up capital was of absolutely no significance to the loan.

“What is important is that by 2008, the stockholders’ equity of DVRI was already P114 million. In fact, when the DBP loans were made in 2009, the stockholders’ equity of DVRI was already more than P1 billion. “To call DVRI a ‘puny’ company is ridiculous and can only be a fabrication of a warped mind,” Ongpin said.

He said the collateral provided by a borrower was the most critical consideration in granting a loan.

“In this case, the [two] loans to DVRI amounting to a total of P660 million was secured by collateral valued at more than P1.87 billion, which was 2.77 times the loan amount, which is far superior to DBP’s and other banks’ requirement of a 2 times cover,” Ongpin said.

DBP lawyers, he said, claimed that the bank was deprived of “a potential trading gain” of over P412.4 million when it sold 50 million Philex shares to DVRI at P12.75 and which were sold one month later by DVRI at P21 per share.

“This allegation is preposterous, patently illogical and obviously intended to confuse,” Ongpin said.

The Philex shares were bought from DBP by Ongpin’s companies at P12.75 per share on Nov. 5, 2009. Philex shares prior to the transaction had been trading at a range of P9 to P11 per share. Philex shares even traded at less than P12.75 on several occasions after the Nov. 5 closing date.

“So, clearly, [then DBP president Reynaldo] David made a sound decision to dispose of part of his Philex holdings at P12.75.

“So, unless Mr. David was expected to be someone who could foretell future stock market price movements, Mr. David should be lauded, instead of criticized, for locking in profits for DBP,” Ongpin said.

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Covering up a suicide

TO THE POINT

BY EMIL JURADO

MANILA STANDARD TODAY

09 AUGUST 2011

 

 

***

For the benefit of those who want to find out more about these loans by Ongpin, especially opinion writers and other journalists, who have been writing about this loan in connection with the Philex shares (considering that it’s about shares and their profitability), here are the facts on record:

Ongpin first made his first major acquisition in Philex in early 2007 by buying a 5 percent stake from BDO, which had been owned by PCIB, and which BDO had acquired earlier. Ongpin’s acquisition of that block was about P5 per share, an investment made for London-based fund manager Ashmore. He then bought from Ashmore the shares because the stocks of Philex started appreciating.

Ongpin then bought John Gokongwei’s shares, and his third acquisition was from Manny Zamora. Consequently, Ongpin, over a three-year period, organized financing of P4 billion, dealing with six banks, in addition to Ashmore, which he represents in the country. His total loans with DBP amounted to less than 20 percent of the total financing Ongpin had.

Ongpin knew that Manny Pangilinan wanted control of Philex and was willing to buy at premium. When DBP sold 50 million of its Philex shares, the daily trade a week before the sale was around P9-11 per share.  Consequently, at the closing price of the transaction, it was already at P12.75 per share.

Note this clearly: DBP was happy to lock in profits so that the balance of DBP’s portfolio at Philex would be gravy, I repeat gravy, to the bank. Now, why should the former DBP president and the past board be faulted when DBP was making money? To blame David for not foreseeing that Ongpin would deal with Manny Pangilinan at P21 per share is the height of naivete.

This transaction only showed the business acumen of Ongpin and that of Pangilinan, who not only had full control of Philex, a very profitable mining concern, but had actually more than the doubled value of his investment.

Santa Banana, you don’t have to be rocket scientist to know when to deal! It’s common business sense, which many, including some columnists, and especially Nuñez and others at DBP, obviously don’t.

Why Ongpin and past DBP executives and board should be sued is beyond me.

***

 

 

 

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TRIVIA 0015: WHAT IS THE POPULATION OF THE PHILIPPINES IN 2012?

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July 21, 2011

TRIVIA 0015: WHAT IS THE POPULATION OF THE PHILIPPINES IN 2012?

 

BASED ON THE Summary of Projected Population by Sex, by Five-Year Interval: Philippines: 2000-2040, THE AVERAGE ANNUAL GROWTH RATE IS 1.835% AND AT THIS RATE THE PHILIPPINE POPULATION IN 2012  IS ESTIMATED AT 97,495,140.

 

BY 2014, WE SHALL HAVE PASSED THE 100M MARK.

Population of the Philippines
Census Years 1799 to 2007

Year

Population

Average annual rate of increase (%)

Source of data

1799

1,502,574

–

Fr. Buzeta

1800

1,561,251

3.91

Fr. Zuniga

1812

1,933,331

1.80

Cedulas

1819

2,106,230

1.23

Cedulas

1829

2,593,287

2.10

Church

1840

3,096,031

1.62

Local officials

1850

3,857,424

2.22

Fr. Buzeta

1858

4,290,381

1.34

Bowring

1870

4,712,006

0.78

Guia de Manila

1877

5,567,685

2.41

Census

1887

5,984,727

0.72

Census

1896

6,261,339

0.50

Prof. Plehn’s estimate based on census records.

1903

7,635,426

2.87

Census

1918

10,314,310

2.03

Census

1939

16,000,303

2.11

Census

1948

19,234,182

2.07

Census

1960

27,087,685

2.89

Census

1970

36,684,486

3.08

Census

1975

42,070,660

2.78

Census

1980

48,098,460

2.71

Census

1990

60,703,206

2.35

Census

1995

68,616,536

2.32

Census

2000

76,504,077

2.36

Census

2007

88,574,614

2.04

Census

Note: Population from 1799 to 1896 excludes non-Christians.

a – Includes the household population, homeless population, Filipinos in Philippine Embassies/Consulates and missions abroad and institutional population who are found living in institutional living quarters such as penal institutions, orphanages, hospitals, military camps, etc. at the time of the census taking.

Source: National Statistics Office.

Population: Average Annual Growth Rate (in Percent)
Census Years 1980, 1990, 1995, 2000 and 2007

Area

1980-1990

1990-1995

1995-2000

2000-2007
Philippines

2.35

2.32

2.36

2.04
National Capital Region

2.98

3.30

1.06

2.11
CAR

2.28

1.71

1.83

1.50
Ilocos Region

1.96

1.30

2.15

1.10
CagayanValley

2.01

1.51

2.25

1.13
Central Luzon

2.58

2.12

3.17

2.36
Southern Tagalog

3.05

3.53

–

–
IVA- Calabarzon

–

–

4.08

3.21
IVB- Mimaropa

–

–

2.67

1.49
Bicol Region

1.18

1.91

1.73

1.20
Western Visayas

1.77

1.30

1.56

1.35
Central Visayas

1.95

1.65

2.81

1.59
Eastern Visayas

0.88

1.84

1.51

1.12
Western Mindanao

2.23

2.42

2.12

1.83
Northern Mindanao

2.22

2.32

1.99

1.67
Southern Mindanao

3.04

2.72

2.41

1.71
Central Mindanao

3.32

2.66

2.69

2.41
ARMM 1/

3.06

1.80

3.73

5.46
Caraga 21/

2.55

1.82

1.63

1.25

1/ Created into a region under EO No. 429

2/ Created into a region under RA No. 7901 dated February 23, 1995, taken from Region 10 and Region 11.

Source: National Statistics Office.

Population, by Region
Census Years 1990, 1995, 2000 and 2007

Area

2007 (Aug 1)

2000 (May 1)

1995 (Sep 1)

1990 (May 1)
Philippines

88,574,614 a1/a2/

76,504,077 b1/b2/

68,616,536 c/

60,703,206

National Capital Region

11,553,427

9,932,560

9,454,040

7,948,392
Cordillera Administrative Region

1,520,743

1,365,412

1,254,838

1,146,191
Ilocos Region

4,545,906

4,200,478

3,803,890

3,550,642
CagayanValley

3,051,487

2,813,159

2,536,035

2,340,545
Central Luzon

9,720,982

8,030,945

6,932,570

6,199,017
Southern Tagalog

–

–

–

8,263,099
IVA- Calabarzon

11,743,110

9,339,618

7,750,204

 
IVB – Mimaropa

2,559,791

2,299,229

2,033,271

 
Bicol Region

5,109,798

4,686,669

4,325,307

3,910,001
Western Visayas

6,843,643

6,211,038

5,776,938

5,393,333
Central Visayas

6,398,628

5,706,953

5,014,588

4,594,124
Eastern Visayas

3,912,936

3,610,355

3,366,917

3,054,490
Western Mindanao

3,230,094

2,831,342

2,567,651

2,459,690
Northern Mindanao

3,952,437

3,505,708

3,197,059

2,197,554
Southern Mindanao 

4,156,653

3,676,163

3,288,824

4,006,731
Central Mindanao

3,829,081

3,222,169

2,846,966

2,032,958
ARMM

4,120,795

2,803,045

2,362,300

1,836,930
Caraga 1/

2,293,480

2,095,367

1,942,687

1,764,297
Filipinos in Philippine Embassies/Consulates and Missions Abroad

2,279

2,851

2,830

5,212

a1/ Population counts for the regions do not add up to national total. Includes 24,789 persons residing in the areas disputed by City of Pasig (NCR) and the provinceof Rizal(Region IVA); and 4,555 persons in the areas disputed by the provinceof Davao Oriental(Region XI) and Surigao del Sur (Caraga).

a2/ Includes 2,279 Filipinos in Philippine embassies, consulates, and missions abroad.

b1/ Population counts for the regions do not add up to national total. Includes 18,989 persons residing in the areas disputed by City of Pasig (NCR) and the province of Rizal (Region IVA); 192 persons in the area disputed by the province of Mountain Province (CAR) and Ilocos Sur (Region I); and 11,814 persons in the barangays disputed by the province of Camarines Norte Region V) and Quezon (Region IVA).

b2/ Includes 2,851 Filipinos in Philippine embassies, consulates, and missions abroad.

c/ Includes 2,830 Filipinos in Philippine embassies, consulates, and missions abroad.

1/ Created into a region under RA No. 7901 dated February 23, 1995, taken from Region 10 and Region 11.

Note: In 2000, the population of disputed areas was reported in the next higher geographic level. For example, the population of province A claimed both Province A and B will be reflected in the region, but not in Province A nor Province B. This explains the discrepancy when one sums up the province details which is less than the regional totals.

Source: National Statistics Office.

Population by Age Group, by Sex and by Region: 2000

Age Group

Both Sexes

Male

Female

Total

76,504,077

38,524,267

37,979,810

Under 1

1,917,431

986,506

930,925

1-4

7,752,071

3,965,426

3,786,645

5-9

9,694,781

4,962,013

4,732,768

10-14

8,949,614

4,541,197

4,408,417

15-19

8,017,298

4,017,830

3,999,468

20-24

7,069,403

3,522,518

3,546,885

25-29

6,071,089

3,053,616

3,017,473

30-34

5,546,294

2,804,522

2,741,772

35-39

4,901,023

2,496,821

2,404,202

40-44

4,163,494

2,120,314

2,043,180

45-49

3,330,054

1,696,712

1,633,342

50-54

2,622,316

1,318,632

1,303,684

55-59

1,903,649

943,133

960,516

60-64

1,633,150

786,137

847,013

65-69

1,138,843

533,469

605,374

70-74

797,970

361,614

436,356

75-79

505,356

218,622

286,734

80 and over

490,241

195,185

295,056

Source: National Statistics Office.

 

Summary of Projected Population
by Sex, by Five-Year Interval: Philippines: 2000-2040

Year

Both Sexes

Male

Female

2000

76,946,500

38,748,500

38,198,000

2005

85,261,000

42,887,300

42,373,700

2010

94,013,200

47,263,600

46,749,600

2015

102,965,300

51,733,400

51,231,900

2020

111,784,600

56,123,600

55,661,000

2025

120,224,500

60,311,700

59,912,800

2030

128,110,000

64,203,600

63,906,400

2035

135,301,100

67,741,300

67,559,800

2040

141,669,900

70,871,100

70,798,800

Note: Based on the 2000 Census on Population and Housing.

Source: Inter-Agency Working Group on Population Projections

[More Tables on 2000 census-based national population projections]

 

Number of Occupied Housing Units by
Construction Materials of the Outer Walls and Roof: 2000

Construction Materials of the Outer Walls

Total Number of Occupied Housing Units

Construction Materials of the Roof

Galvanized Iron/ Aluminum

Tile/ Concrete/ Clay Tile

Half Galvanized Iron/ Half- Concrete

Wood

Cogon/ Nipa/ Anahaw

Makeshift Salvaged/ Improv-ised Materials

Asbestos/ Others

Not Reported
                   
Total

14,891,127

10,066,730

138,050

689,226

306,121

3,315,374

107,786

57,300

210,540

Concrete/ brick/ stone  

4,587,978

4,323,530

100,987

67,627

10,657

73,176

2,934

9,067

–
Wood

3,381,339

2,263,524

10,670

70,193

227,549

786,637

12,031

10,735

–
Half concrete/ brick/ stone and half wood

2,816,272

2,146,675

17,607

483,460

23,369

137,000

3,995

4,166

–
Galvanized iron/ aluminum

144,234

118,741

1,307

13,389

3,827

6,159

539

272

–
Bamboo/ sawali/ cogon/ nipa

3,399,180

1,044,744

5

43,592

35,625

2,238,453

15,775

20,852

134
Asbestos

8,823

5,623

1,321

493

262

–

–

1,121

3
Glass

4,895

3,594

669

260

121

–

–

249

2
Makeshift/ salvaged/ improvised materials

181,769

66,216

15

3,030

1,212

38,497

70,817

1,884

98
Others/not reported

352,293

85,186

4,536

6,466

2,948

33,167

1,129

8,634

210,227
No walls

14,344

8,897

933

716

551

2,285

566

320

76

Source: National Statistics Office.

 

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WHO IS ROSARIO URIARTE?

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July 10, 2011

WHO IS ROSARIO URIARTE?

Gloria Macapagal-Arroyo and Rosario Uriarte ties go a long way back to DTI days

Philippine Daily Inquirer

4:24 am | Friday, July 8th, 2011

 5share84 75

 

TIES THAT BIND AND BIND Former President Arroyo places the Presidential medal of merit on then PCSO Vice Chair and General Manager Rosario Uriarte in this photo taken during the 75th PCSO anniversary celebration on Sept. 8, 2009. EDWIN BACASMAS

Rosario Uriarte’s ties with former President Gloria Macapagal-Arroyo, now a Pampanga lawmaker, go a long way back.

It came as no surprise then to some senators that Uriarte was appointed general manager of the Philippine Charity Sweepstakes Office (PCSO) under Arroyo’s watch.

“She was very familiar with the President. Therefore, she had the confidence and trust of the President. That’s why she was placed there,” Sen. Franklin Drilon told reporters after the blue ribbon committee hearing on the alleged misuse of PCSO funds.

During close to two hours of grilling, it was Drilon who asked Uriarte about her professional background, giving the public a glimpse of her association with the former leader.

It turned out Uriarte was closer to Arroyo than the public had expected or imagined, working for her from the time the latter entered government service at the Department of Trade and Industry (DTI) until she assumed the presidency.

Uriarte confirmed working with then Assistant Trade Secretary Arroyo while she was still a member of the Garment and Textile Exports Board in the late 1980s or early 1990s.

She next served as her consultant when Arroyo was elected senator and vice president years later, and as part of her appointments staff when she became the President.

In an admission that surprised Cagayan-born Senate President Juan Ponce Enrile, Uriarte said she briefly worked at the Cagayan Economic Zone Authority (Ceza) in 2002 before she was appointed to the PCSO.

Uriarte served as general manager of the PCSO from Jan. 17, 2003, to July 30, 2010, and became concurrent chair of the agency from April 19, 2004, to Aug. 29, 2004.

Uriarte earned her economics degree from the University of the Philippines before working at the DTI, Bureau of Industrial Development and Ceza.

She then ventured into free-lance consultancy on local government process and training, master plan development and infrastructure before assuming her post at the PCSO.

In his privilege speech in October 2003, Sen. Panfilo Lacson alleged that Uriarte’s chief of staff, Raul Ancheta, facilitated the use of PCSO funds to finance a private group urging then President Arroyo to run in the 2004 presidential election.

Arroyo had served the unexpired term of President Joseph Estrada starting in 2001.

Ancheta denied the allegations and said that all PCSO books were open for review.

In 2008, Uriarte was on the roster of Gusi Peace Prize awardees, under the social welfare category. The award is referred to by its promoter as the Asian equivalent of the Nobel Peace Prize. Reports from TJ Burgonio and Inquirer Research

 

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