MANILA, Philippines - Lakas-Kampi Christian Muslim Democrats candidate Gilbert Teodoro admitted Tuesday losing to his cousin, Liberal Party standard-bearer Sen. Benigno "Noynoy" Aquino III, in the May 10 election for the next Philippine president.
In a press conference, Teodoro congratulated Aquino for a hard-fought victory in the presidential election and said the new president should consider instituting constitutional reforms during his term.
"I am very happy insofar as the result of the race is considered," he said, adding that members of the Lakas-Kampi CMD are winning the local races.
Partial results of the Commission on Elections showed Teodoro placing fourth in the race with 3,448,013 votes, compared to Aquino's 12,969,559 votes.
Teodoro is the fourth presidential bet to concede in the race, after Manny Villar, Richard Gordon and JC delos Reyes.
Former President Joseph Estrada said Tuesday that he was not yet ready to concede to Aquino despite lagging behind the LP bet by more than 5 million votes.
"Huwag muna ngayon. Quiet muna ako ngayong araw. I will not make statements," Estrada told reporters.
The former president's lawyer George Erwin Garcia said they are planning to question the process used by the Commission on Elections (Comelec) in this years election.
Estrada, who was attempting a big comeback after his term as president was cut short in 2001, said he would have to wait for additional results from the Comelec's electronic counting before making statements.