Daily Tribune
Overseas groups long suspected of funding the so-called “yellow mob,” which has influenced Philippine politics since the 1986 People Power revolt, are once again mobilizing in an effort to leave their mark on the upcoming national elections.
Mamamayang Liberal (ML) Partylist candidate Leila De Lima held a campaign event in the United States, with ticket prices reaching a staggering $1,000 (P58,000). This price surpasses the cost of concert tickets for international singing sensation Coldplay when they performed in the Philippines last year.
“Disgusting and unethical. First, what and who is she representing when running for the partylist, the Liberal Party members themselves? We all know he made a lot of money during his time, so why still do fundraising? He’s just going to take more from the earnings of the overseas Filipino workers (OFWs) he can deceive in America,” the sender of the fundraising material sent to the DAILY TRIBUNE, said.
Ticket prices for the event based on documents provided to Daily Tribune are $1,000 (P58,000) for benefactor; $500 for ally, and $250 for supporters of the ML campaign sortie cum fundraising activity.
Before filing her candidacy at the Commission on Elections, she said the ML Partylist represents marginalized sectors and will promote social justice.
A dead giveaway on the identity of the key fundraiser is the host of the event which is Filipino-American billionaire Loida Nicolas Lewis, a rabid supporter of the Liberal Party and suspected financier of past People Power movements that toppled two presidents.
Fast-food giant Jollibee Foods Corp. is attracting a surge of investment offers from major global partners.
However, it would require the approval of the Philippine Stock Exchange (PSE) to lift the foreign ownership limit — a move seen as positive for the company amid volatile market conditions.
“The removal of the cap is a good catalyst for the company in this market that’s somehow choppy; this could provide a positive boost for the company. Hopefully, it materializes,” said Unicapital Securities Inc. equity research analyst Jeri Alfonso.
JFC had requested the amendment following changes to its Articles of Incorporation, which removed provisions allowing it to own, acquire, mortgage, pledge, or encumber land.
Alfonso noted that JFC’s growth prospects, particularly its international expansion, hold great potential.
“We are very bullish on JFC when it comes to the consumer sector. If we look at the PE, it has one of the highest ratios, but we think it is justified,” Alfonso said.
JFC has set a target of achieving equal revenue contributions from local and international operations.
“We are very optimistic that they will hit their 50-50 sales target between their international and local operations. Right now, they are at 61-39. We see growth prospects (for JFC) internationally,” Alfonso added.
Last month, JFC completed its full acquisition of Tim Ho Wan, the renowned Hong Kong-based dim sum chain, as it expands its global footprint.
Jollibee Worldwide Pte. Ltd. acquired 100 percent of Tim Ho Wan Holdings Pte. Ltd. from Titan Dining Group Ltd. for SGD 20.2 million, reinforcing JFC’s position in the Asian dining market.
