Answer:

According to Chapter 1 Section 10 of the Flag and Heraldic Code of the Philippines, The flag, if flown from a flagpole, shall have its blue field on top in time of peace and the red field on top in time of war; if in a hanging position, the blue field shall be to the right (left of the observer) in time of peace, and the red field to the right (left of the observer) in time of war.

This makes the Philippine Flag the only flag to have a specific display requirement during the time of peace and war.

However, there has been no circumstance that it has been legally declared that the red portion should be on the upper part of the hoist.