Glad to know this thread is still alive.
Sharpie, the Philippine aviation is governed by ICAO documents, SARPs (Standard and Recommended Practices), Annexes, etc. We are a member of ICAO as most countries are. They do auditing on us but it's the FAA's audit that stir the top execs. They are always concern on what Uncle Sam have to say which is ironic coz I don't remember if we ever pass their audits and yet there is no improvement being done. No wait- they changed the name nga pala from ATO to CAAP.
Furthermore Mr Sharpie, I assume you want to fly your light aircraft VFR, low-level and outside controlled airspace. But if you plan to fly IFR in controlled airspace it is mandatory to have a radio on board, required navigational equipment, an operable transponder and TCAS (ACAS). ELT, like GPS, may not be required but for your own benefit, it would be best to have one.