Sabado, Marso 31, 2012

With GPS Data Out, Feds Eye Warrantless Cell Phone Surveillance

Prosectors are shifting their focus to warrantless cell-tower locational tracking of suspects in the wake of a Supreme Court ruling that law enforcement should acquire probable-cause warrants from judges to affix GPS devices to vehicles and monitor their every move, according to court records.

The change of strategy comes in the case the justices decided in January, when it reversed the life sentence of a District of Columbia area drug dealer, Antoine Jones, who was the subject of 28 days of warrantless GPS surveillance via a device the FBI secretly attached to his vehicle without a warrant. In the wake of Jones’ decision, the FBI has pulled the plug on 3,000 GPS tracking devices.

In a Friday filing in pre-trial proceedings of Jones retrial, Jones attorney’ said the government has five months worth of a different kind of locational tracking information on his client: So-called cell-site information, obtained without a warrant, chronicling where Jones was when he made and received mobile phone calls in 2005.

“In this case, the government seeks to do with cell site data what it cannot do with the suppressed GPS data,” attorney Eduardo Balarezo wrote (.pdf) U.S. District Judge Ellen Huvelle.
Balarezo added:

The government has produced material obtained through court orders for the relevant cellular telephone numbers. Upon information and belief, now that the illegally obtained GPS data cannot be used as evidence in this case, the government will seek to introduce cell site data in its place in an attempt to demonstrate Mr. Jones’ movements and whereabouts during relevant times. Mr. Jones submits that the government obtained the cell site data in violation of the Fourth Amendment to the United States Constitution and therefore it must be suppressed.

Just as the lower courts were mixed on whether the police could secretly affix a GPS device on a suspect’s car without a warrant, the same is now true about whether a probable-cause warrant is required to obtain so-called cell-site data.

A lower court judge in the Jones case had authorized the five months of the cell-site data without probable cause, based on government assertions that the data was “relevant and material” to an investigation.

“Knowing the location of the trafficker when such telephone calls are made will assist law enforcement in discovering the location of the premises in which the trafficker maintains his supply narcotics, paraphernalia used in narcotics trafficking such as cutting and packaging materials, and other evident of illegal narcotics trafficking, including records and financial information,” the government wrote in 2005, when requesting Jones’ cell-site data.

That cell-site information was not introduced at trial, as the authorities used the GPS data for the same function.

The Supreme Court tossed that GPS data, along with Jones’ conviction, on January 23.
The justices agreed to decide Jones’ case in a bid to settle conflicting lower-court decisions — some of which ruled a warrant was necessary, while others found the government had unchecked GPS surveillance powers.

“We hold that the government’s installation of a GPS device on a target’s vehicle, and its use of that device to monitor the vehicle’s movements, constitutes a ‘search,’” Justice Antonin Scalia wrote for the five-justice majority.

The government has maintained in a different case on appeal that cell-site data is distinguishable from GPS-derived data. District of Columbia prosecutors are expected to lodge their papers on the issue by April 6 in the Jones case.

Among other things, the government maintains Americans have no expectation of privacy of such cell-site records because they are “in the possession of a third party” (.pdf) — the mobile phone companies. What’s more, the authorities maintain that the cell site data is not as precise as GPS tracking and, “there is no trespass or physical intrusion on a customer’s cell phone when the government obtains historical cell-site records from a provider.”

In the Jones case, the Supreme Court agreed with an appeals court that Jones’ rights had been violated by the month-long warrantless attachment of a GPS device underneath his car. Scalia’s majority opinion, which was joined by Chief Justice John Roberts, and Justices Anthony Kennedy, Clarence Thomas and Sonia Sotomayor, said placing the device on the suspect’s car amounted to a search. (.pdf)

Huwebes, Marso 29, 2012

Real Estate Broker Licensure Exam Results Released in Six Working Days

The Professional Regulation Commission (PRC) announces that 3,192 out of 4,801
passed the Real Estate Broker Licensure Examination given by the Board of Real Estate Service in Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo and Legazpi this March 2012.

The members of the Board of Real Estate Service who gave the licensure
examination are Chairman, Dr. Eduardo G. Ong, Members, Ramon C.F. Cuervo III,
Florentino C. DiƱo II & Rafael M. Fajardo.

The results were released in six (6) working days after the last day of examination. Registration for the issuance of Professional Identification Card (ID) and Certificate of Registration will start on Thursday, March 29, 2012 until Tuesday, April 10, 2012. Those who will register are required to bring the following: duly accomplished Oath Form or Panunumpa ng Propesyonal, current Community Tax Certificate (cedula), 2 pieces passport size picture (colored with white background and complete nametag), 1 piece 1” x 1” picture (colored with white background and complete nametag), 2 sets of metered documentary stamps and 1 short brown envelope with name and profession and submission of Original Surety Bond, minimum amount of which is P 20,000.00, with the Professional Regulation Commission (PRC)/Housing and Land Use Regulatory Board (HLURB) as Obligee and to pay the Initial Registration Fee of P600 and Annual Registration Fee of P450 for 2012 to2015. Successful examinees should personally register and sign in the Roster of Registered Professionals.

Miyerkules, Marso 28, 2012

BI keeps an eye on Palawan ex-governor

A lookout bulletin memorandum (LBM) was issued yesterday against former Palawan Governor Joel Reyes and several others in connection with the January 24, 2011 killing of broadcast journalist Gerardo “Gerry” Ortega.

Justice Secretary Leila de Lima in a two-page memorandum ordered the Bureau of Immigration “to be on the lookout on” Reyes, et al. “should any of them pass through immigration counter in any international airport.”

Reyes’ brother Coron Mayor Mario Reyes Jr., former provincial administrator Romeo Seratubias, close-in aide Arturo Regalado and Valentin Lecias were also included in the LBM.

De Lima said unlike a watchlist order or hold departure order, an LBM would not prevent Reyes and his cop-accused from leaving the country.

The DOJ chief said an outstanding temporary restraining order from the Supreme Court prevented her office from issuing a hold departure order against Reyes, et al.

“Relative thereto, please find the attached copy of the memorandum dated March 13, 2012, wherein the Secretary of Justice directed the Commissioner of Immigration “to instruct all immigration officers to be on the lookout for the following accused should any of them pass through the immigration counters in any of our international airports and/or seaports.”

In the meantime, Mika, the eldest daughter of Ortega, lauded De Lima for issuing the directive.

She said they were hopeful the Regional Trial Court (RTC) of the Puerto Princesa City handling the case would issue an HDO and warrant of arrest against Reyes which were expected to be released on Tuesday.

“Tuesday (today) might be the earliest for issuance of warrant,” Mika stressed.

On March 13, the DOJ indicted Reyes (MJT) and several others for murder charges after the DOJ reversed its own ruling in connection with the killing of Ortega.

The panel of prosecutors in its new ruling found probable cause to indict Reyes, et al. for the crime.

Although the panel upheld the finding of probable cause against those previously indicted—and are behind bars— for murder, namely, Rodolfo Edrad, Jr., Armando Noel, Jr., Dennis Aranas, and Arwin Arandia, it reversed the finding of insufficiency of evidence in the same charge against Reyes, et al.

The panel, however, found no enough evidence to charge Jose Antonio Carrion, former Marinduque governor as there was no sufficient proof presented to prove that he was part of the alleged conspiracy.



www.manilatimes.net

Lunes, Marso 26, 2012

Banks’ real estate exposure up 20%

The exposure of banks to the real estate sector, particularly in the form of extension of property loans and investments in bonds issued by property firms, rose by nearly 20 percent in 2011 to a new record high of over half a trillion pesos.

The Bangko Sentral ng Pilipinas said the increase in the banks’ exposure to real estate came on the back of higher household incomes and increased economic activity that led to more demand for residential and commercial properties.

Data from the BSP showed that the exposure of banks—both universal/commercial and thrift banks—to the real estate sector totaled P518.6 billion by the end of 2011, rising by 19.6 percent from the P433.6 billion reported during the same period the previous year.

The latest amount was also higher by 6.8 percent from the P485.6 billion seen in September 2011.
“The combined exposure to the real estate sector of universal and commercial banks, and thrift banks breached the half a trillion mark and reached the highest level [in 2011],” the BSP said in a statement Friday.
Rise in loans for residential properties was attributed largely to growth in remittances from overseas Filipino workers. Growing household incomes, supported by remittances, allowed many Filipino households to feel confident about buying homes with the help of bank loans.

On the other hand, rise in demand for commercial properties was partly credited to sustained investments by business process outsourcing (BPO) firms.

Data showed that loans to individual and corporate borrowers to support purchases of residential and commercial properties accounted for bulk of the banks’ exposure, or P506 billion.

The small remainder came from banks’ investments in bonds issued by property firms.
Also, universal and commercial banks accounted for P398 billion of the total, having catered to large corporate borrowers.

Although banks extended more real estate loans, the BSP said, their exposure to bad debts had in fact declined.

Nonperforming real estate loans ratio—the share of soured real estate loans to total real estate loans—improved to 5 percent by the end of 2011 from the 6.8 percent of the same period the previous year, and the 5.5 percent of September 2011.

Soured loans or bad debts are those that have remained unpaid at least 30 days upon maturity.
The growth in bank loans to the real estate sector earlier elicited concerns over potential asset price bubbles, similar to what had happened in the late 1990s. But the BSP shrugged this off.

Unlike in the late 1990s when demand for properties was mostly speculative in nature, recent purchases of real estate were fueled by actual demand from households and enterprises that were in need of assets for expanded operations, the BSP explained.

business.inquirer.net

Now Available: Philippines Real Estate Report Q2 2012

The Philippines real estate sector is generally considered to have outperformed in 2011. Almost 300,000 square metres (m2) of Grade A office space came to market across Metro Manila. The booming offshoring and outsourcing industry boosted office rents, while positive investor sentiment buoyed capital values. Remittances continued to provide local Filipinos with the spending power to drive the retail market, which saw the entry of new local and international retailers, such as Emporio Armani, LeSportSac, Paris Hilton Bags, HTC and Jamba Juice, enhancing the demand for retail space.

Despite the weak global economy constraining demand for Philippine exports, the local economy is fundamentally stable, though underperforming. While little can be done to prevent the exogenous factors affecting the Philippines, it may
be said that the government could have done better in 2011. Weak government and private spending was little offset by resilient private consumption. Public spending targets were missed throughout the year, with Philippine President Benigno Aquino III's US$1.7bn stimulus package in Q411 having a relatively mute effect on the quarter's GDP growth. Private sector participation has also been hampered by Manila's inability to enact coherent investment policies, emblematic of which has been the government's highly touted Private-Public Partnership programme, under which not one project made it into fruition in 2011. Private consumption, which comprises 70% of total GDP, slowed from Q2 to Q3 but still posted year-on-year (y-o-y) growth of 7.1% for the quarter.

 Full Report Details at
-
www.fastmr.com/prod/335701_philippines_real_estate_report_q2_201 ..

 Overseas remittances play a large role in household expenditure and managed to keep private consumption buoyant amid the weakening wider economy. However, this is not expected to continue as BMI forecasts that private consumption will be limited to 4.3% in 2012 following a 5.8% performance in 2011.

A recent pledge by the Philippine government to boost infrastructure spending in 2012, as well as improve monetary conditions, suggests that a recovery in construction activity is on the cards. As a result, we are revising up our forecasts for the Philippine construction sector, with real growth expected to reach 6.5% in 2012 (from 5.7%). Beyond 2012, we believe that construction activity in the Philippines could improve further, with real growth for the sector forecast to average 7.5% per annum between 2013 and 2016.

Some of the key opportunities in the real estate market are:

* The Philippines is one of the fastest-urbanising countries in East Asia. With an English-speaking and relatively low-cost workforce, it is ideally placed to participate in high-demand services such as business process outsourcing.
* Many residents of cities in the Philippines continue to experience poverty, environmental degradation and live in slums or other inadequate housing arrangements. Economic development has created rural-to-urban migration.

Some key risks to the real estate market are:

* Political unrest in the Middle East and North Africa causing a decline in overseas remittances.
* Economic difficulties in the US and eurozone, and commodity price fluctuations, pose risks to private consumption growth.
* Despite President Benigno Aquino III's pro-foreign direct investment (FDI) policies, the changes in the law affecting REITs mean developers that had planned to set trusts up have stopped. In August 2011, mall developer SM Prime Holdings dropped its plans to raise US$500mn via a REIT and Ayala Land dropped its plans to raise US$400mn following the tax rises by the BIR and the tax agency.


Debt watcher retains top rating for ALI bonds

A DEBT WATCHER yesterday announced it was keeping its top rating for proposed and outstanding bonds from Ayala Land, Inc. (ALI) due to the company’s reportedly well diversified nature and strong capitalization.

The interior of the Tower One & Exchange Plaza in Makati City, headquarters of Ayala Land, Inc. is seen from the lower floors. Philippine Ratings Service Corp. has retained its top rating for the listed developer’s proposed and outstanding bond issuances. -- Photo By Jonathan L. Cellona

Following a recent review, local credit ratings agency Philippine Ratings Service Corp. (PhilRatings) retained its outstanding “Prs Aaa” score for Ayala Land’s proposed P5-billion bond issuance, as well as its outstanding bonds worth P4 billion, the press statement showed.

“The ratings reflect the following factors: Ayala Land’s well-diversified portfolio complemented by solid brand equity and a highly-experienced management team; sound profitability coupled with strong cash flow generation and cash reserves, and conservative capitalization with ample room for additional debt,” PhilRatings said.

Last month, the real estate firm said it was issuing the multi-year bonds worth P10 billion in order to fund general capital expenses. This comes on top of an earlier P4-billion bond issue first issued back in 2008.

In the meantime, the company announced last week that it was earmarking as much as P60 billion -- its biggest investment in a single area yet -- to develop six districts within Makati City, the country’s so-called financial capital.

Ayala Land has allotted a record P37 billion in capital expenditures this year alone to fund new residential and leasing projects, as well as for the acquisition of new properties moving forward.

This amount will be partially sourced from seven- and 10-year corporate bonds worth P15 billion that were issued last month, earlier reports said.

Ayala Land hiked its net income for 2011 to a record P7.14 billion versus P5.46 billion it generated in 2010, while total consolidated revenues rose by 17% to P44.21 billion from P37.8 billion two years ago.

Total expenses last year grew by 12% to P33.50 billion in 2011 from P29.95 billion, year on year.

“Indications are strong that the growth in profitability will continue in the medium-term given the current favorable industry and general economic environment,” PhilRatings noted.

Linggo, Marso 25, 2012

JG Summit to ramp up spending this year for expansions

 LISTED CONGLOMERATE JG Summit Holdings, Inc. is ramping up capital spending this year in line with expansion plans in place for its real estate and aviation units, an official said.

The Gokongwei-led firm has pegged capital expenditure at P52.87 billion for 2012, up 79.89% from the P29.39 billion spent in 2011, Bach Johann M. Sebastian, JG Summit senior vice-president and corporate planning head, told Business World in an e-mail.
A bulk of JG Summit’s will be accounted for by the company’s real estate arm Robinsons Land Corp. and low-cost airline operator Cebu Air, Inc., Mr. Sebastian said.

Robinsons Land will be spending P19.25 billion this year, a 73.74% increase from the P11.08 billion spent last year, the e-mailed data showed.

Robinsons Land, which hiked its full-year net profits by 10% to P3.97 billion last year, earlier said it will be sourcing its capex from cash operations and debt, with more than 60% of the funding going to malls, office buildings, and hotels, and the remainder for condominiums and other housing units.

Cebu Air, for its part, nearly tripled its budget to P12.50 billion this year versus only P4.22 billion last year.

“Funding for Cebu Air will contribute to the growth of its fleet acquisitions this year,” Mr. Sebastian said in a separate telephone interview.

Cebu Air, which operates budget carrier Cebu Pacific, aims to expand its fleet to 47 aircraft by the end of 2014 in line with plans to embark on long-haul flights within the year.


Other JG Summit units, particularly its unlisted petroleum and banking firms, will also ramp up spending this year.

JG Summit Petrochemical Corp., the unlisted petroleum subsidiary of JG Summit, has pegged its 2012 budget at P15.54 billion, up by 88.82% from P8.23 billion in 2011.


JG Summit Petrochemical aims to open the country’s first naphtha cracker raw material factory in Batangas City in the third quarter next year, in a bid to drive down raw material production costs according to earlier reports.

Robinsons Bank Corp., for its part, will be spending P390 million this year, more than double the P190 million figure earmarked in 2011.

Listed food and beverage firm Universal Robina Corp. will be spending P4.56 billion this year, unchanged from its last year’s capex.

JG Summit, established in 1990, is the Gokongwei family’s holding company for various interests. JG Summit shares were traded unchanged on Friday at P28 apiece. -- Franz Jonathan G. de la Fuente.