Philippines says will spend $255 mln on military helicopters,boats

The Philippines will use proceeds from the country's Malampaya gas fields to fund most of a $255 million plan to buy boats, helicopters and weapons for the military, President Benigno Aquino said on Wednesday.

The Philippines has one of the weakest militaries in the region, patrolling its vast maritime borders, including disputed areas in the South China Sea, with 20-year-old trainer jets and Vietnam War-era frigates.

Efforts to upgrade equipment have been hampered by tight government finances and graft allegations.

Read more