(UPDATE) Phl replaces military's old rifles

MANILA, Philippines (Xinhua) - President Benigno Aquino III today led the distribution of new assault rifles to soldiers to replace old versions, most of which date back to the Vietnam war era.

In a ceremony at the Armed Forces of the Philippines (AFP) headquarters, Aquino and military officials gave 27,300 units of 5. 56 mm M4 rifles to members of the Philippine Army and Philippine Marine Corps.

Aquino said the remaining 23,329 units of assault rifles which the Philippine government earlier purchased will be delivered by December. The new rifles cost P1.94 billion ($44.14 million).

The acquisition of M4 rifles is part of efforts of the Philippine government to modernize the military.