I believe that the resignation of BIR Commissioner Lilian Hefti should not have any impact on tax collection for the remainder of the year.

We have in place our action plans which we will be implementing more vigorously to generate the resources to finance critical spending to achieve our growth objectives and provide for the needs of our people.

We thank Ms. Hefti for her contribution in our efforts to improve tax collection and wish her all the best. Thank you.

We are hopeful that the sale of Philamlife would have a net positive impact on the domestic insurance industry as we anticipate the sale to result in a stronger institution that would provide improved services and greater protection to the Filipino public.

Philamlife as market leader can very well pay claims and underwrite new policies given its capital strength in line with the reforms that we have instituted in the local insurance industry.

We will continue with these reforms, particularly the increase in capitalization, to help ensure that insurance companies are better prepared to tackle unexpected challenges like the ongoing US financial turmoil. Thank you.