Fungible

That photograph of hundreds of millions in cash stacked casually on nondescript tables is iconic.

The sight of so much cash gives corruption its ugly face. It is no longer an abstraction. Every Filipino who works very hard to earn a few of those bills to buy the bare necessities is shocked by the callous quantity of it all – the workaday attitude of those who dump the cash in suitcases and cartons.

Volumes of cash such as those in the photo are accumulated in many other places and delivered to designated recipients. Hundreds of millions, possibly billions, in cash brought to mansions and penthouses. Deducting those allowed ‘for the boys,’ much of the cash flows to a few central points: the masterminds and protectors of this enormous racket.

Money, as we know, is fungible. My hundred-peso bill is fully interchangeable with your hundred-peso bill. They buy the same things.

But money is fungible only to an extent. At a certain magnitude, there will be difficulty transacting cash.

Our banking system is fully armed to detect financial fraud and ring alarm bells when odd transactions happen. One cannot leisurely walk over to a bank branch and try to deposit a hundred million in cash. A new law designed to fight money muling allows the bank to capture your cash and hold on to it until some very important questions are adequately answered.

In the midst of the corruption crisis we now endure, bank tellers are probably more precious than senators. They detect suspicious transactions and promptly report to the Anti-Money Laundering Council. If our banks get together, we can yet stop those reported suitcases of cash from reentering circulation.

The BSP last week limited cash withdrawals to P500,000. A former finance secretary proposed lowering the peso denominations in circulation. There will be some inconvenience in this, but criminals must be prevented from enjoying the fruits of their betrayal.

So much cash is likely stranded in the mansions of the masterminds. Enough alerts have been issued in the financial and business communities. Cash in large volumes cannot move without detection.

There are many ways corrupt money may be laundered. One way is to use the casinos to convert cash to checks. Our authorities are now keeping close watch over these establishments to avert the country being downgraded as a money laundering haven.

Another way is to accumulate real estate, using cash transactions when possible. This is reflected in the staggering inflation in the choicest real estate developments.

Such has been the volume of the recent scams that the price spiral in golf shares and country club memberships is attributed to them. Some of the dirty money is used to buy luxury goods such as designer bags, expensive wristwatches and supercars to avert depreciation of dirty money.

Over the last three years, the House of Representatives became a living showcase for designer bags, expensive wristwatches and supercars. This should have alerted us to the scale of corruption going on.

Several times in the past, our government printed new money as a method to flush out the caches of cash of the previously powerful. An easier way is to put out search warrants for those places identified by whistleblowers as drop points for suitcases filled with cash. It is never too easy to dispose of cash above a certain quantity.

The corruption attending our infrastructure projects deeply alarmed our people. Churches, business groups including the normally staid Filipino-Chinese Chambers of Commerce and Industry and schools administrations have all issued statements denouncing the corruption.

We cannot rely on the usual rallies which have been commandeered by the political factions positioning for the next elections. From hereon, every Filipino citizen should speak out when they see things.

Computers should help our banks identify the large cash withdrawals that happened over the recent past. They could also help us identify those performing as money mules for the powerful. Auditors have a heroic role to play in saving our Republic.

Fill social media with anecdotes about luxurious spending by the powerful. We know now, from these anecdotes, who has been splurging on what. Store clerks should spill the beans.

The small guys – those who carried suitcases of cash for their powerful bosses – can tell us a lot. We need their testimonies and their courage to get to the bottom of all these.

The business community is abuzz with stories about powerful individuals trying to buy big time into large corporations. These are more sophisticated ways of laundering dirty money. At some point, all these attempted buy-ins should be documented.

Over the next few weeks, we can look forward to an unprecedented national festival of truth-telling. This is the sort of national festival that is giving the corrupt sleepless nights.

In every community, there should be a forum on how money for local projects has been squandered. There is one amazing story from Albay, for instance, about how a billion pesos in infra funds was used to build a road to the resort of a politician’s underling – contracted out to that politician’s company of course.

Many of these stories will distress us. But they are stories we all need to tell.

That telling photograph of millions in cash leisurely sitting on tables did not just demean our currency. It demeaned the nation.

Pagdanganan shines despite late mishap; Saso faces cut threat

Bianca Pagdanganan launched her return to LPGA Tour action with flashes of brilliance, carding a 69 in the opening round of the Lotte Championship at the Hoakalei Country Club in Ewa Beach, Oahu, Hawaii, on Thursday.

Though she stumbled at the finish, a dynamic start and steady play kept Pagdanganan well within reach of the leaders in the $3-million event.

The long-hitting Filipina, backed by ICTSI, teed off on the back nine and immediately caught fire, stringing together four consecutive birdies from No. 17 through No. 2 to surge up the leaderboard. Her momentum, however, slowed down as she settled for pars over her next five holes before bogeying the par-4 No. 8, her penultimate hole of the round, to finish with a 34-35 card.

While that dropped her to a tie for 25th at the end of the day, the power-hitter remains just five shots off the pace set by Japan’s Akie Iwai, who fired a sparkling eight-under 64 to grab the early lead.

Also in the mix are Peiyun Chien, Gabriella Ruffels and Nasa Hataoka, who matched 65s, while Pornanong Phatlum, Patty Tavatanakit, and A Lim Kim carded 66s to create a tightly packed leaderboard.

Despite hitting only six fairways and reaching 12 greens in regulation, Pagdanganan’s sharp putting – just 28 putts on the day – and resilience showed her readiness to contend again. With her immense power off the tee – averaging 293 yards – and growing maturity in course management, Pagdanganan remains a compelling contender heading into the weekend, especially if she can tighten up her long game and capitalize on scoring opportunities.

The 27-year-old has been knocking on the door of a breakthrough win, and her current form suggests it may only be a matter of time before she breaks through. Her recent performances have consistently placed her within striking distance going into moving day – a testament to both her raw talent and evolving consistency.

In contrast, fellow ICTSI-backed star and two-time US Women’s Open champion Yuka Saso continued to search for form, enduring a difficult opening round of 77 (+5) that put her at serious risk of missing the cut.

Saso, who started with promise by birdying her first two holes, quickly lost her rhythm. After making two pars, she dropped five shots over her next seven holes, including a double bogey on the par-3 ninth. Her back nine wasn’t kinder, as she managed just one birdie while surrendering two more bogeys and another double bogey to finish with a 39-37 effort.

The stats told the story: just seven fairways hit, eight missed greens, and three failed sand saves, despite registering 28 putts. For a player of Saso’s caliber, a major champion known for her calm under pressure and ball-striking prowess, the round was uncharacteristically erratic.

Saso’s recent struggles raise questions about confidence and rhythm, both of which have eluded her for much of the season. A bright start showed she still has the tools, but regaining trust in her swing and consistency in execution will be key if she hopes to climb back into contention and avoid another early exit.

Team North strikes in four-ball

Team North flexed its muscles and seized control with eight wins out of 12 matches in the opening Four-ball format of the ICTSI North vs South Elite Junior Championship at The Country Club yesterday.

Team North established a commanding 8-4 lead – an emphatic opening statement in the season-ending showdown of a year-long junior golf tour that featured seven tournaments in each region.

Team North captain Francis Talion attributed their strong Day 1 performance to careful planning.

‘Basically, we started by making critical projections on how the other team might compose their roster for Day 1 – that’s what we based our own lineup on,’ said Talion

EDITORIAL – Killer earthquake

As of yesterday afternoon, 69 deaths had been confirmed, with search and rescue teams still working frantically in the aftermath of the magnitude 6.9 earthquake that struck Cebu on Tuesday night.

It was the end of a working day, and bedtime for many people when the quake hit, followed by aftershocks. Buildings, houses and other structures began collapsing, including heritage churches. Power and telecommunications lines conked out. Fissures formed on roads and bridges, making passage dangerous and disrupting supplies and rescue work.

Cebu is now under a state of calamity as seismologists warn of more aftershocks. The earthquake was felt in varying intensities across Cebu and neighboring provinces, with the epicenter located off Bogo City.

The magnitude of the quake was just a few points shy of the 7.2 or the so-called Big One that seismologists have warned could hit Metro Manila and neighboring provinces straddling the West and East Valley Faults.

An earthquake more powerful than the Big One in fact hit Luzon including Metro Manila on July 16, 1990. Recorded at a magnitude 7.8, the Luzon earthquake killed over 1,600 people, with the casualties highest in Baguio City and Central Luzon particularly Nueva Ecija.

That quake heightened concerns about the Big One hitting the country’s most densely populated region. In March 2004, the Metro Manila Earthquake Impact Reduction Study was released by the Japan International Cooperation Agency in partnership with the Metropolitan Manila Development Authority and the Philippine Institute of Volcanology and Seismology. The study warned that up to 35,000 people could die from the Big One including from fires that would break out.

Japan, which has suffered from numerous killer earthquakes and tsunamis in the past centuries, has arguably the world’s most sophisticated earthquake response and mitigation system in place.

While the Philippines lacks the resources of Japan, the JICA study identifies the weaknesses in earthquake preparedness in Metro Manila and how these can be addressed.

Some of the recommendations have been undertaken. These include the introduction of new building safety standards and tightening of their implementation, inspection of public infrastructure and buildings for structural integrity and their reinforcement, and yes, those regular earthquake drills in schools and offices.

Yet seismologists and disaster response advocates have stressed that much more need to be done in terms of readiness for the Big One. The earthquake in Cebu should spur more action in enhancing preparedness.

Kirk Bondad reacts to possible BL show with Mister Korea Choi Seung Ho

At his playful homecoming presscon, the new Mister International 2025 Kirk Bondad was still reeling from his victory.

‘Honestly, the feeling that I’m getting from being Mister International right now, it’s like when you walk in the park and suddenly a fresh breeze hits you and it goes like, I’m still catching up to the feeling. I have nothing but love in my heart,’ the Filipino-German supermodel, fitness enthusiast and businessman said.

Held at Holiday Inn Express Manila Newport City in Pasay on September 29, Kirk expressed his gratitude to all his supporters, mentors and fellow kings.

He also dove deep into his budding friendship – and kilig chemistry – with Mister Korea Choi Seung-ho, who emerged second runner-up at the pageant’s finals in Bangkok on September 25.

‘We have been always very near to each other at the pacing of rehearsals or anything else because P and K are close to each other in alphabetical order. So, it was just naturally inclined that we will just spend more time together,’ explained a smiling Kirk.

‘But also, we are gym bros so there were not many people who were bonding in the gym but he was one of the people that I always saw in the gym so naturally we bond there, too,’ he added.

The duo made several videos together that fanned the flames of a possible bromance.

‘And then shoutout to my roommate Oliver [Prasetyo, who placed in the top 20], Mister Indonesia. One day out of nowhere in the live stream, he creates F4, which I at that time, I didn’t know what it means. But it meant a lot because that video also got viral and it was Oliver, Mr. Thailand Scott [Kanapol Treesongkiat, who was part of the Top 11], Seung-ho, Mr. Korea and me. So, automatically with that we were also doing additional content so we were just naturally organically building chemistry more,’ shared Kirk.

New F4 version

F4 (Flower Four), formed in 2001, is the now legendary Taiwanese boy group consisting of Jerry Yan, Vanness Wu, Ken Chu, and Vic Chou.

Kirk has another plan to further his ‘partnership” with Seung Ho.

‘I’m really pushing and pushing hard that [lifestyle brand] Bench will get him here because Bench is the official sponsor for Mister Korea International. So, I want him to bring Seung-ho here and do some shooting with me because I know there’s a lot of demand and we want to please [the fans].’ .

Mister Korea has also said that he’s hoping to do a project with you, a Boys’ Love (BL) series.

‘Yeah, we’ll figure out the details later about that,’ replied a hopeful and impish Kirk.

’Market recovery tied to flood control corruption probe’

The local stock market is not expected to recover from its ongoing slump unless positive results emerge from ongoing investigations into corruption in flood control projects, according to Philippine Stock Exchange Inc. (PSE) president and CEO Ramon Monzon.

Asked on what he thinks of the market right now, Monzon said that it is ‘very bad.’

‘It reflects what is happening in our country,’ the PSE chief said.

‘The market’s number one ally is confidence – both local and foreign investors. It appears that we do not have that right now until what is happening stabilizes,’ he said.

Anomalies in the country’s flood control projects have opened the floodgates of heavy selling pressure in the PSE over the past two months.

Discoveries of substandard and ghost projects due public and private sector officials to pocketing trillions of pesos in public funds meant for flood control and infrastructure projects have led to a collapse in the local bourse.

‘Our foreign investors are selling. We’re already positive in July, then it reversed,’ Monzon said.

As of Tuesday’s closing, the Philippine Stock Exchange index has lost 426.29 points since ending at 6,379.75 on July 28, when President Marcos ordered an audit of flood control projects during his 2025 State of the Nation Address.

Analysts said the massive corruption scandal has impacted investor sentiment and outlook.

‘Hopefully, some very positive results from these investigation will come out,’ Monzon said.

‘I just hope they do a very good and credible investigation with really concrete positive results. That’s the only thing that could bring back confidence in the market,’ he said.

Monzon led the stock market contingent during the protest actions on Sept.21 where thousands gathered to demand accountability and punishment for those engaged in anomalous deals in the government and in the private sector, especially those who have pocketed trillions in public funds meant for flood control and infrastructure projects.

DPWH orders rapid assessment of government buildings

The Department of Public Works and Highways (DPWH) wants all local government building officials to undertake a rapid assessment of buildings in their respective localities in the wake of the destruction wrought by the magnitude 6.9 earthquake in Cebu province.

‘We focus on this first, then we deal with the resiliency designs and enforcement of the building code,’ Arrey Perez, newly appointed DPWH Undersecretary for technical services, National Building Code Development Office and operations for external convergence projects, said in a text message to The STAR.

Public Works Secretary Vince Dizon rushed to Cebu province yesterday morning – on President Marcos’ orders – after inspecting the devastation in Masbate caused by Typhoon Opong.

At a briefing, Dizon said the DPWH was fast-tracking the conduct of structural assessment, especially of the bridges in the province.

‘Right now, obviously, we’re still reeling from this very tragic event yesterday, which struck in the middle of the night,’ he said.

‘The instructions to us by the President, apart from making the initial assessment, is to respond immediately to the needs of Bogo and the other LGUs in northern Cebu which were severely hit by this,’ Dizon said. ‘For DPWH, our task was to, first of all, clear the roads. So all the national roads are being cleared right now. A lot of them have already been cleared.’

‘The national highways that got disfigured, a lot of them have already been flattened so that the goods and the essential services heading to the north, especially in Bogo City, will be unhampered,’ the DPWH chief said.

‘So we are working round the clock, 24/7 tayo dyan. We will be working overnight to make sure that your roads are cleared.’

Bacolod Rep. Albee Benitez also called on the government to conduct a thorough review of the country’s infrastructure facilities to ensure they would be able to withstand natural disasters.

‘Even as we have yet to assess the full extent of the destruction caused by the earthquake, it is also urgent that the government conduct a thorough review of the disaster-worthiness of all public infrastructure,’ Benitez said.

‘First expose the shoddy work, punish those guilty for it, then take the necessary steps to ensure that no public building, road or bridge will contribute to loss of life, injury and damage to property,’ he said.

The Department of Budget and Management (DBM), for its part, has called on agencies to activate their Quick Response Fund in response to the earthquake in Cebu.

With P8 billion still in the budget pile as of Oct. 1, Budget Secretary Amenah Pangandaman said the National Disaster Risk Reduction and Management (NDRRM) Fund is on standby for support in repairing earthquake damage in the region.

‘We also have the NDRRM Fund on standby for larger-scale needs, including the repair of damaged facilities and heritage sites, to help ensure that our communities can rise again as quickly as possible,’ the budget secretary said.

‘Likewise, DBM’s regional offices in Central and Eastern Visayas were instructed to coordinate with their regional counterparts from the OCD to identify requirements where DBM assistance may be extended,’ she said.

Speaking to reporters at the House of Representatives, Science Secretary Renato Solidum Jr. said thousands could be killed if an earthquake similar to the one that hit Cebu strikes at the heart of Metro Manila.

A hypothetical magnitude 6.5 quake in the metropolis would be deadly because of the region’s many buildings and dense population, Solidum said.

‘It is a reminder of the seriousness of the efforts that we need to do, ensuring that your family and the community are prepared in your areas,’ he said.

Metro Manila residents have long feared the arrival of ‘The Big One,’ or a magnitude 7.2 earthquake that experts say can happen as early as 2058 or as late as 2258.

Kim Chiu takes break from taping to buy materials for fellow Cebuano quake victims

Cebuana actress Kim Chiu was spotted shopping for construction materials for her fellow Cebuanos who were affected by the magnitude 6.9 earthquake in Cebu.

Kim was seen personally buying construction materials at a hardware store, as shown on her official Facebook page, to support relief efforts for victims of the deadly earthquake in Cebu.

The materials will be donated to residents in San Remigio and Bogo City, the latter being the quake’s epicenter.

The powerful tremor struck on the night of September 30, leaving 72 people dead and damaging infrastructure, including homes and heritage churches. As of October 2, aftershocks continue to be felt across affected areas.

Ukraine can share counter-disinfo lessons with PH amid Russian threat in Asia – ambassador

Ukraine is offering to share 11 years’ worth of knowledge on fighting disinformation with the Philippines as both countries face what Kyiv’s ambassador sees as an active Russian disinformation threat in the region.

Ukraine Ambassador Yuliia Fediv said Kyiv wants to work with Manila on cybersecurity and counter-disinformation initiatives, citing Ukraine’s decade-long battle against Russian propaganda since the 2014 annexation of Crimea.

‘It’s not only the war on the battleground – it’s an information war,’ Fediv told Philstar.com in an interview on September 29. ‘Russia actually succeeded during many years to manipulate the internal political situation in Ukraine. Thanks to active media outlets and big anti-disinformation campaigns, we developed different tools which can be used by society to check the facts.’

Call for PH-Ukraine partnership

Fediv said Ukraine is finalizing a memorandum of understanding with the Philippine government covering cybersecurity, including programs to counter disnformation.

‘Ukraine can be a reliable partner for the Philippines to exchange knowledge and the tools we already developed during the last 11 years,’ she said. ‘It is important to make the truth available, because in the post-truth society it’s easy to manipulate people’s minds.’

Moscow’s disinformation campaigns, Fediv said, are not confined to Ukraine. This is why Kyiv has been expanding its diplomatic presence in Asia, Africa and Latin America. Ukraine opened its embassy in Manila in December 2024.

‘We felt that Russia was and is pretty present here, thanks to great mis- and disinformation campaigns putting a question mark over Ukraine’s independence and history,’ Fediv said. ‘That’s why it’s important to share the experience we have and also to tell people’s stories – that is the main tool against disinformation.’

The ambassador said both countries need to cooperate and exchange information to be “on the same page.”

Ukraine on the South China Sea

The Philippines has faced waves of disinformation around both domestic politics and its assertion of sovereign rights over the West Philippine Sea – the part of the South China Sea that falls under its 200-nautical mile exclusive economic zone. Several disinformation and malinformation campaigns have sought to undermine the 2016 arbitral ruling that rejected Beijing’s sweeping claims over nearly the entire sea.

On the South China Sea issue, Fediv said Ukraine is committed to Article 2 of the UN Charter, which calls for preserving territorial integrity and sovereignty and solving disputes peacefully.

She cited Ukraine’s recent hosting of the fifth International Crimea Platform summit held during the UN General Assembly, where more than 50 countries signed the New York Declaration affirming rules-based international order and peaceful dispute resolution.

The ambassador said Ukraine is “the most interested party in preserving peace and rule-based order” among UN Charter signatories amid its ongoing war with Russia.

Golden season of changes

The PBA’s Golden Anniversary season will usher in a ton of changes from coaches to players to rules to schedules to a new team owner, making the 50th year celebration a treat full of surprises. The Philippine Cup starts Sunday with no less than a Manila Clasico the only game on the bill at the Smart Araneta Coliseum. Barangay Ginebra coach Tim Cone will match wits with Magnolia counterpart and long-time protege LA Tenorio in a battle that pits teacher against student. It’ll be LA’s PBA coaching kickoff and his baptism couldn’t be more challenging.

Tenorio is one of five new head coaches this season. The others are Phoenix’ Willy Wilson, Terrafirma’s Ronald Tubid, Pureblends’ Johnedel Cardel and Converge’s Vice Gov. Dennis (Delta) Pineda. As for player movements, the list is long. The league’s senior statesman Rafi Reavis, 48, got a new lease on life when he was signed by Converge after his release from Magnolia. Larry Muyang is back with Vice Gov. Pineda at Converge. Tyrus Hill and Kevin Ferrer jumped to TNT. Jed Mendoza, Paul Zamar and David Murrell went to Blackwater. Aljun Melecio, Von Pessumal and Jeo Ambohot joined Pureblends while Prince Caperal, Yousef Taha, Francis Escandor, Bryan Santos and Evan Nelle transferred to Phoenix. Norbert Torres switched to Ginebra. Paul Garcia, Jerrick Ahanmisi and Prince Rivero hooked up with Terrafirma. Magnolia reeled in Paolo Taha and Javi Gomez de Liaño. Stanley Pringle left Terrafirma for Rain or Shine.

From the draft comes a slew of newcomers. Juan Gomez de Liaño and Kobe Monje are with Converge. Dalph Panopio and Jack Cruz-Dumont hopped to the Bossing. JM Bravo and Ira Bataller were enlisted by Terrafirma. Magnolia tapped Gab Gomez. Pureblends collared Mario Barasi while Phoenix took in Dave Ando. San Miguel Beer inked Chris Miller to a two-year deal and Sonny Estil was taken by Ginebra.

The rule changes were initially discussed with coaches Leo Austria, Luigi Trillo, Olsen Racela, Adonis Tierra, Yuri Escueta, Yeng Guiao, Monch Gavierez, Rensy Bajar, Jun Villarin, Christian de la Cruz, Jeff Cariaso and Franco Atienza. Then, the changes were brought to the Competition Committee made up of Guiao, Austria, Atienza, Trillo and Cariaso for consultation before Commissioner Willie Marcial gave his final approval.

The changes are on a coach’s challenge, a call may be corrected provided it was on the same play phase; no travel will be whistled on a player who makes a legitimate shot attempt and catches it even without touching the board, ring or another player; excessive swinging of the elbow from left to right and back will result in a technical foul without losing possession; no team will be allowed an excessive timeout; an offensive foul is counted as a team foul; in the last two minutes, the referee may review a made basket if two, three, four or a foul shot on a dead ball and if no review, the shot will no longer be reviewable; the same process will be applied regarding basket interference in the last two minutes; a flagrant foul penalty 1 will be assessed on a player who, in trying to save possession, throws the ball with a clear view to the head of an opposing player and in the last two minutes of every quarter, a second team foul will mean entering penalty situation.

The schedules will be staggered over 15 months with the PBA taking a break for five FIBA World Cup Asia qualifying windows up to next year and the Asian Games. Games will be played in Dubai, Bahrain, Ilocos Sur and Cagayan de Oro aside from Metro Manila venues.