BusinessWeek Mindanao (July 28, 2014)

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Volume V, No. 22

Market Indicators As of 5:56 pm July 25, 2014 (Friday)

FOREX

PHISIX

US$1 = P43.28

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X Briefly

X

2 cents

unchanged

Farmers’ training A TOTAL of 166 agrarian reform beneficiaries (ARBs) from selected municipalities of Misamis Oriental and Camiguin recently completed the Agricultural Enterprise Development (AED) training course.

The newly trained farmerbeneficiaries are expected to help improve the provinces’ agriculture.

The training, conducted

by Xavier Science Foundation (XSF), was implemented under the Agrarian Reform Community Connectivity and Economic Support Services (ARCCESS) project.

The ARCCESS project is designed by the Department of Agrarian Reform (DAR) to provide strategic and sustainable support services to increase farm productivity, improve household incomes and provide sustainable livelihood for ARBs through the organization of agri-related enterprises.

Procurement hub THE Philippine Postal Corporation (PHLPOST) and the Department of Budget and Management (DBM) has launched the first ever DBM Procurement Service Hub in the PHLPOST regional office in Macabalan, Cagayan de Oro City.

According to DBM Procurement Service Executive Director Atty.

Estanislao Granados that Cagayan de Oro is looked at as the gateway to Mindanao and that through this hub, all supplies in Mindanao will be based in Cagayan de Oro. He said that there will be a whole lot of difference since in the previous years, delivery of supplies and equipment to the different government offices in Mindanao take three to five weeks to accomplish.

Now, from Cagayan de Oro, it should only take 15 hours to Zamboanga, seven hours to Surigao and nine hours to Koronadal and so on.

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BusinessWeek fetes Mindanao’s top business leaders awardees

By IRENE DAYO, Staff Writer

FOR the third time in its five years of existence, BusinessWeek Mindanao and its sister publications, has given distinctions to fifteen business individuals and entities that have immense contributed to the economic development in Mindanao.

Dubbed as 2014 Mindanao Business Leaders’ Awards, this year’s awardees include those engaged in Agri-Business; Banking; Cooperatives; Hotel Industry; Resorts and Tourism Development; Housing Industr y ; Food Production and Marketing; Food Production Entrepreneurs; Mega Entrepreneurs; SME Entrepreneurs; Micro Entrepreneurs (Company Category); Micro Entrepreneurs (Individual Category); and Social Entrepreneurs.

“We aim to value and recognize the achievements of business entrepreneurs who are role models in leadership and innovation, have created a culture of entrepreneurship, developed best practices and carved out powerful and sustainable models of business for empowerment and transformation of Mindanao’s economy,” said Dante Sudaria, president/publisher of BusinessWeek Mindanao Group of Publications. awardees/PAGE 11

MINDANAO’S TOP BUSINESS LEADERS. Recipients of the 2014 Mindanao Business Leaders’ Awards were feted on Saturday during the awarding rites held at the Ayala Centrio Mall in Cagayan de Oro City. The prestigious awards, given held annually by BusinessWeek Mindanao and its sister publications, is aimed at giving recognition to business leaders of various fields in Mindanao who have immensely contributed to the island’s development. The awardees include: Sumipro Phils, Inc for Agri-business; !st Valley Bank for Banking and Finance; First Community Cooperative for Cooperative Banking; Alrose Group of Companies for Food Manufacturing and Marketing; A Brown Company for Housing and Realty Development; Royal Mandaya Hotel for Hotel Industry; Dahilayan Adventure Park for Resorts and Tourism Development; Dennis Uy of Phoenix Petroleum Phils, Inc. for Mega Entrepreneur catagory; Salay Hand-made Paper Industries, Inc. for Social Entrepreneur category; JCA Realty for service; Anakciano, Inc./Lechon Manok Ni Sr. Pedro for Food Production; Work Area Business Center for Business Entrepreneur catageory; Yulo Tee/ GTY Marketing for Trading; Oro Asian Automotive Center Corporation for Transport Industry and Italpinas, Inc. for Alternative Energy.

SONA seen to push M’nao’s peace, dev’t

P

By CRIS DIAZ, Executive Editor

RESIDENT Benigno Aquino III would likely emphasize the economic development and stability of peace and order of Mindanao during his State of the Nation Address (SONA) today.

Rep. Rufus B. Rodriguez, of Cagayan De Oro City, said on Friday that economic development and the stability of the peace and order in Mindanao would be the focus of Aquino’s remaining two sona/PAGE 11

President’s emergency powers to let PSALM enter into supply contracts

By MYRNA VELASCO, Contributor

THE emergency powers being recommended by the Department of Energy (DOE) for President Aquino shall mandate the debt-ridden Power Sector Assets and Liabilities Management

Corporation (PSALM) to enter into power supply contracts for capacities that can be extracted out from the self-generation facilities of industrial and commercial end-users.

Mindanao leaders are eagerly awaiting for the President’s policy statement for the island’s peace and development during his fifth State-of-the-Nation Address this afternoon.

The term of the deal, according to Energy Secretary Carlos Jericho L. Petilla, will be to let these gensets trade their capacities via the Wholesale Electricity Spot Market (WESM) and the difference between the psalm/PAGE 11

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Procurement Service Hub in Mindanao launched

By JASPER MARIE OBLINA-RUCAT Contributor

T H E Phi lippi ne Post a l Corporation (PHLPOST) and the Department of Budget and Management (DBM) launched last week the first ever DBM

Procurement Service Hub in the PHLPOST regional office in Macabalan, this city.

Ac c o r d i n g t o D B M Procurement Ser vice Executive Director Atty.

Estanislao Granados that Cagayan de Oro is looked at as the gateway to Mindanao and that through this hub, all supplies in Mindanao will be based in Cagayan de Oro. He said that there will be a whole lot of difference since in the previous years, delivery of supplies and equipment to the different g ov e r n m e nt of f i c e s i n Mindanao take three to five weeks to accomplish.

Now, from Cagayan de Oro,

it should only take 15 hours to Zamboanga, seven hours to Surigao and nine hours to Koronadal and so on.

Also he explained that this will be a different kind of challenge to the PHLPOST because in one year time, at least 522 twenty footer vans will pass in the Cagayan de Oro warehouse.

P H L P O ST As s i s t ant Post Master General for Marketing and Management Support Services Luis D. C arlos me anw hi le s aid

that this is the first ever hub in the country and it is just the beginning of a logistics service that they are moving not only with DBM but eventually with the Department of Health (D OH) and Games and Amusement Board (GAB).

“It’s not a stamp company anymore but a logistics company,” Carlos said.

The opening of this hub is the beginning of a rapid development in this part of the country, the Mindanao

area is a growth area. This is an instrument of progress, a procurement of service, to provide supplies and equipment with PHLPOST as logistics provider, he said.

Meanwhile, PHLPOST Mindanao Area 8 Director Nimia S. Acebes said that in 36 years of service, she never dreamed PHLPOST to have warehouse business but explained that they need to adapt to the changes. That is why now; they are into warehouse and logistics.

Two NorMin entries vie for organic agriculture achievers awards NORTHERN Mindanao will have two finalists for the 2014 National Organic A g r i c u l t u r e Ac h i e v e r s Awards (NOAAA).

This was announced

by Organic Agriculture P r o g r a m Fo c a l Pe r s o n Precy S. Akut in her presentation during the conduct of the 4th leg of Information Caravan on

July 17, 2014, held here in the City.

The two entries declared as f inalists by the National Steering Committee (NSC) are the municipality of Kauswagan in Lanao del Norte for the Local Government Unit categor y and Nicasio F. E n g a l l a d o o f Va l e n c i a

Cit y, Bu k idnon for t he Small Individual Farmer categor y.

In line with the competition, the National Te c h n i c a l S c r e e n i n g Committee (NTSC) will conduct a field validation to b oth entries on July 25-26, 2014.

The national winners for the Local Government

Unit Category will receive a P1 million worth of project grant and the Small Individual Farmer Categor y nation winner will receive a cash prize of P200,000.00.

The NOAAA winners will be awarded during the National Organic Congress in October this year at Davao City.

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RESORTS, HOTEL & RESTAURANTS DIRECTORIES

A PUBLIC SERVICE BY:

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Despite junta, ARC pursues buyout of Thailand’s cola YAO-led cola company, Asiawide Ref reshments Corporation (ARC), will still pursue to buyout a cola company in Thailand despite the coup d’etat in the said country.

Former ambassador and ARC chair Alfredo M. Yao said in an interview that the company is not threatened with junta in Thailand and it will continue to take over

the operation of a Thai cola company.

“We’re pursuing it and we’re still talking to them.

We will be operating it in Thailand but they will still have their presence in the company,” Yao said.

E arly t his ye ar, Yao disclosed that the country’s RC Cola maker will buy the existing RC Cola in Thailand as the owner plans

to sell out its assets.

Once the buyout t r a n s a c t i on i s s e t t l e d , ARC also eyes to build manufacturing facilities in Thailand.

Yao considered Thailand as a significant market with its 70 million population.

Yao, through ARC, holds an exclusive license from United States-based RC Cola as its manufacturer and

distributor for the whole Southeast Asian market.

Aside from RC Cola, ARC also manufactures Zesto Fruit Soda and Arcy’s Rootbeer.

RC Cola shares 20 percent of the cola domestic market and is the second leading cola brand both i n Me t r o M a n i l a a n d provinces, according to Yao. (PNA)

Philex Petroleum posts P40.7M losses RFM earns P427M PHILEX Petroleum Corporation has reported a loss of PHP 40.7 million for the first half of 2014, a disclosure from the Philippine Stock Exchange (PSE) said on Friday.

The company added that the P40.7 million net loss was significantly lower than the P 225.2 million loss for the same period last year. It has a difference of P184.5 million.

Despite the loss, the company is optimistic on its local and international projects.

Philex Petroleum Corp pointed out that the lower net loss was the result of higher revenues from Forum Energy Plc (a 60.45 percent subsidiary of the company) on SC-14C1 in Galoc, Indonesia; reduction in general administrative expenses, decrease in interest expenses and the lower foreig n c ur renc y exchange losses.

S p e c i f i c a l l y, t h e company is hoping on the Department of Energ y’s (DOE’s) grant on Forum’s request to extend the

complet ion d ate of t he second Exploration SubPhase of Service Contract 72 (SC72) located in Recto Bank by one year to Aug 15, 2016.

Also, Philex Petroleum has cited the 22-month e x t e n s i on of t h e t h i rd exploration period for the Peru Block X-38 effective after the force majeure (unavoidable incidents) is lifted, due to the declaration of the operator unable to secure a suitable drilling unit within the set period. philex/PAGE 10

in 1st half of 2014 THE RFM Corporation has reported earnings of some P 427 million for the first half of 2014, a significant 10 percent increase from last year’s income.

Based on a disclosure from the Philippine Stock Exchange (PSE) Thursday, food and beverage company RFM Corporation reported on July 23 a stronger first half net income of P427 Million or 10% higher than its earnings in the same period last year.

The company pointed out the growth was faster than the 8% rate reported in the first quarter of the year.

Moreover, RFM President and Chief Executive Officer (CEO) Jose Concepcion III, said that it might have been rfm/PAGE 10

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Banking&Finance

IMF eyes rebound of PHL economy in H2 A RANKING official of the International Monetary Fund (IMF) said the Philippine economy is expected to rebound in the second half of 2014 after a slowdown in the first quarter. ”O ver-a l l it’s st i l l a fairly strong growth for the Philippines vs. ASEAN. It’s really reflecting the first quarter but it’s predicated on fiscal spending,” IMF R e p r e s e nt at i v e t o t h e Philippines Shanaka Peiris told reporters Friday.

L ast April and May, government spending decelerated but the IMF executive believes that this will post improvements in the coming months. ” We a r e a s s u m i n g that they will catch up on spending…We are expecting that (spending slowdown) to reverse and hit closer to the two percent deficit spending by the year end,” Peiris said.

The government targets budget deficit in 2014 to account to about two percent of GDP at about P266 billion.

The Philippine economy grew by 5.7 percent, as measured by gross domestic product (GDP), in the first three months of the year.

This is slower t han the previous quarter’s 6.3 percent and year-ago’s 7.7 percent due to the impact of the calamities particularly Typhoon Yolanda (Haiyan)

that hit the country in the last quarter of 2013.

Peiris said this de velopment made t he multilateral lender to cut its growth forecast for the country this year to 6.2 percent from 6.5 percent last April. The 2015 forecast is maintained at 6.5 percent.

He pointed out, however, that the cut in the growth forecast for the country is in line with that of the region and the world.

IMF released Thursday its World Economic Outlook update and it now forecasts world output for 2014 to be at 3.4 percent, lower than the 3.7 percent projection last April. The 2015 forecast is still at four percent.

For the ASEAN-5, which groups Indonesia, Malaysia, Philippines, Thailand, and Vietnam, it is projected to expand by 4.6 percent this year, lower than the five percent projection earlier.

Next year, the forecast was cut by 0.2 percnet to 5.6 percent. ” T h e Ph i l ippi ne s i s considered to be among the more resilient emerging economies,” Peiris said.

He, on the other hand, said risks remain and these include failure by the government to meet its spending program, commodity price shocks as well as the looming El Nino phenomenon.

May imports contract on sharp fall in oil purchases PHILIPPINE imports contracted last May on the back of a sharp fall in purchases from abroad of oil products.

In a report, the Philippine Statistics Authority (PSA) said the country’s merchandise imports in May contracted by 9.6 percent to $4.765 billion this year from $5.272 billion last year.

The May imports figure brings the 5-month tally to $26.336 billion, a 5.9 percent increase from the $24.862 billion a year ago. This is slower than the government’s forecast of a 10 percent increase for the entire year.

Leading the drop last May was a huge fall in mineral fuels, lubricants and related materials, which accounted for nearly 14 percent of the country’s total import bill for the month, or nearly half its 27 percent share at the start of the second quarter.

Purchases from abroad of fuels fell by 43 percent to $664.05 million from the $1.178 billion in 2013.

“The reversal in import payments for mineral fuels and lubricants in May 2014 from strong growth rates in

the last 2 months significantly pulled down total imports,” Economic Planning Secretary Aresenio Balisacan said in a statement.

“More ove r, s lu g g i s h i mp or t at i on of c apit a l goods continued to weigh on imports outturn during the period,” said Balisacan, who is also director-general of the National Economic and Development Authority (NEDA).

Accounting for 20.6 percent of the total import bill, capital goods purchases declined by 11.7 percent from $1.109 billion in May last year to $979.18 million this year.

E l e c t ron i c s i mp or t s also slipped by a slower 1.2 percent to $1.265 billion this year from $1.280 billion last year. At 27 percent of the total import bill, electronics has regained its spot as the country’s top merchandise purchase from abroad.

Despite the overall drop in overall electronics imports, semiconductors, which had the biggest share at $1.028 billion last May, increased by 2.6 percent from $1.001 oil/PAGE 11

Me anw hile, Peir is declined to say what the IMF or investors are thinking of the government vis-à-vis the issue of Disbursement Acceleration Program (DAP) implementation. ”It’s very hard to say what they thinking…There are lots of noise but if this leads to slowdown in spending that is risk to growth,” he said.

However, he cited that “just because you cannot reallocate that does not mean lower spending.” ”That doesn’t mean they can’t hit the deficit target. You can’t really gauge it (impact of DAP issue on government spending) that’s why we put in in the baseline (as possible risk to domestic growth),” he added. (PNA)

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Philippine debt burden eases further in 2013 THE country’s debt burden eased further last year as t he e nt i re gove r n me nt bureaucracy trimmed its liabilities, according to the latest figures from the Bureau of Treasury.

In a statement, the bureau said the general government debt slipped to 39.2 percent of the country’s gross domestic product (GDP) in 2013 from 40.6 percent in the previous year.

The general government debt ratio is one of the key measures of fiscal health used by international credit

rating firms, and its steady decline has been one of the reasons for the Philippines’ earning an investment grade last year.

The end-2013 ratio marks a 5.7 percentage point decline from the 44.9 percent seen at end-2009, or before President Benigno Aquino III’s term began.

“The Aquino administration continues to exercise prudence in its economic programs and policies. The improvement in our debt metrics and its burdens/PAGE 10

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Prepare for Landing

T

hink a minute…There’s a book entitled The 365 Stupidest Things Ever Said.

This is one of those stupid things that was actually said. “If you bought our cours e on ‘How To Fly An Airplane In Six Easy Lessons,’ we apologize for any inconvenience we may have caused you by our failing to include the last chapter, ‘How To Land Your Plane Safely.’ Send us your name and address and we will immediately send you this last chapter on how to land your airplane safely.”

Can you imagine a pilot taking off in an airplane not knowing how to land it? Yet some of us ‘fly’ through life without ever thinking about how we are going to ‘land.’

Pilots are never even allowed to take off without a flight plan: knowing where they’re going and how they’ll get there. But many of us are like the university student who said: “I don’t like to think about things until they happen. Death is still a long way away.”

My grandmother used to tease my grandfather when he would leave the house to go for walks. She’d say to him: “Now dear, don’t go so far you can’t get back!”

You know, that’s exactly what happens to us when we die. We’ve gotten so far

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THINK

A Minute

By Jhan Tiafau Hurst

we can’t get back. Each of us gets only one chance to live and then we have to die.

We only get one chance to ‘fly’ before we have to ‘land.’

“What goes up, must come down.” Ready or not, we’re going down! So we need to prepare for landing while we’ve still got time.

How about you? Do you know where you would ‘land’—if your life ended today? You see, we cannot know what’s going to happen to us tomorrow so we must be smart and sure we’re ready today! Just ask Jesus Christ to forgive you for your past wrongs and to take charge of your life every day. That’s the way you can live with total peace of mind that whenever your life ends, 5 years from now or 5 days from now, you know you’re ready for a safe landing.

Just Think a Minute…

Hail the ASEAN Integration

T

he integration of the Association of Southeast Asian Nations (ASEAN) E c on om i c C om mu n it y (AEC)), would give local businesses more opportunities for regional expansion and productivity enhancement. Wit h its realization, the business sector can now engage more in int ra-reg iona l trade, increase their market access within and outside of ASEAN, and expand their production capacities.

The Philippines would greatly benefit, according to analysts since it is a major producer of palm products such as rubber, coconut, abaca, pineapple and mango products, and rice. It is now considered an ideal investment site and regional production hub due to Asean integration.

As a major Asean player, RP becomes a member of the more dynamic economic bloc attractive to the rest of

editorial the rest of the world.

Asean region with a large number of consumers of about 600 million people, has a combined Gross Domestic Product of US$2.2 trillion and lib era lize d t ar if fs.

Investors and producers of goods and services have more opportunities and are expected move easier their goods, services, investment, capital, and labor.

NEDA cited a report f rom the United States I n t e r n a t i o n a l Tr a d e Commission (USITC) on t he t r a d e p e r for manc e of the ASEAN over the years, noting the region’s outward orient ation in trade and investment that led to international trade, growth, and development.

The Philippines has already set its key strategies towards

AEC integration in 2015, all outlined in the Midterm Update of the Philippine Development Plan 20112016. These strategies are aimed at building credible institutions, equalizing development opportunities, creating new growth drivers, and accelerating infrastructure development.

The 10 ASEAN member countries — Brunei Darussalam, the Kingdom of Cambodia, the Republic of Indonesia, the Lao People’s Democratic Republic, Malaysia, the Union of Myanmar, the Republic of t he Philippines, t he Republic of Singapore, the Kingdom of Thailand, and the Socialist Republic of Vietnam. envision a single market and production base, a highly competitive

economic region, equitable economic development, and a region fully integrated into the global economy.

Human res ources development and capacity building; recognition of professional qualifications; cl o s e r c onsu lt at i on on macroeconomic and financial policies; trade financing measures; enhanced infrastructure and communications connectivity; development of electronic transactions through e-ASEAN; integrating industries around the region to promote reg iona l s ourcing; and enhancing private sector involvement are AEC’s areas of cooperation.

Hopefully, AEC will transform ASEAN into a region with free movement of goods, services, investment, skilled labor, and freer flow of capital to sustain the economic growth of our nation.

Diabetics of the World, Unite!

A

s a certified member of media (“me diabetes”) and as a “dual citizen” (Filipino citizen and senior citizen), I have always followed with interest any news which pertains to my medical inheritance. ( My diabetic condition was “inherited” from both parents.)

It goes without saying that I have also religiously followed the advice of my physician, Dra. Thelma D. Crisostomo of Makati Med. For these reasons, at 69, I would describe myself as fairly healthy despite my type 2 diabetes which, unless Dra. Crisostomo says otherwise, has been under control for the last few years.

Diabetes is a condition that is not to be taken lightly.

Both my parents succumbed to diabetes complications.

Some friends much younger than myself have already expired but not after suffering debilitating amputations and blindness.

Both the World Health Organization and the Int e r n at i on a l D i a b e t i c Federation more or less agree on the following statistics: -Globally, as of 2013, an estimated 382 million people have diabetes, with type 2 diabetes making up about 90% of the cases.

-This is equal to 8.3% of the adults population, with equal rates in both women and men.

-Worldwide in 2012 and 2013 diabetes resulted in 1.5 to 5.1 million deaths per year, making it the 8th leading cause of death.

-Diabetes overall at least doubles the risk of death.

-The number of people with diabetes is expected to rise to 592 million by 2035.

-The economic costs of diabetes globally was estimated in 2013 at $548 billion and in the United States in 2012 at $245 billion.

Dr. Susan Yu-Gan, a diabetes specialist and a

past president of Diabetes Philippines, had the following findings: -Every 10 seconds, one person dies due to diabetes-related complications.

-Diabetes is now the biggest single cause of amputation, stroke, blindness and endstage kidney failure.

-More than half of all deaths from diabetes result from c ard i ov as c u l ar d is e as e, including heart attack and stroke.

-One out of ever y f ive Filipinos could potentially have diabetes mellitus or pre-diabetes.

Countries have begun to take concerted action against diabetes. Cognizant that diabetes has become pandemic, the United Nations passed a resolution in 2006 designating November 14 of every year as World Diabetes Day. It would be of interest to note, that Mexico, which has the highest incidence of

SPEAKING

O ut

By Ignacio Bunye

diabetes among 34 OECD member countries, will soon implement a restriction on the advertisement of sugared beverages and sweets. A recent BBC report quoted the Mexican Health Ministry as saying that 40 per cent of commercials for soft drinks, confectionary and chocolates will soon disappear from TV. With the above in mind, I needed little persuasion to follow a regimen prescribed

by Dra. Crisostomo: proper bunye/PAGE 9

Most Important Work for Christians

L

IFE’S INSPIRATIONS: “…In the presence of God and of Jesus Christ…I give you this charge: preach the Word, whether in or out of season…” (2 Timothy 4:1-2, the Holy Bible).

-ooo MOST IMPORTANT WORK OF A CHRISTIAN: On July 26, 2014, after the regular Saturday Gathering for Praise, Worship and Thanksgiving of the Anak ng Diyos Kadugo Ni Kristo (Children of God Blood Kin of the Christ) Church, I was asked about what I consider to be the most important work of a Christian, or someone who professes to be a follower or disciple of Jesus Christ,

our God and Savior during these times.

I answered, a true Christian should both be a “witness” and a “preacher” for Jesus, testifying about Him and His work, and preaching His teachings to all the world.

This is based on Acts 1:8 and Matthew 28:19-20 of the Bible. Acts 1:8 says: “… and you will be my witnesses in Jerusalem, the whole of Judea and Samaria, and in the whole world…”

Matthew 28:19-20 on the other hand says: “Go to all the nations and make the peoples my disciples, baptizing them in the name of the Father, Son, and Holy Spirit, ang teaching them everything I

commanded you to do…”

-ooo YARDSTICKS FOR TRUE CHRISTIANS: It is against these Biblical yardsticks that each and every Christian--and the churches where they belong---should try to measure themselves with.

One who considers himself a true Christian is one who, in his life, makes Jesus known to everyone, and who shares what He endeavored to teach.

If a Christian or his church does not witness for Jesus, or does not preach His teachings, he or she is not a true Christian. As Jesus and Isaiah would say, that kind of a believer honors Jesus only with his lips, but his

K akampi

Mo A ng Batas

By Atty. Batas Mauricio

heart is far away from Him. These “Christians” are to be considered as “liars”, and are still destined to go to hell, where they will be burned and eaten by worms forever. batas/PAGE 11

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Primavera Residences awards top realties, brokers and agents Primavera Residences, a green mixed-use development in Uptown Cagayan de Oro, recently paid tribute to its valued realty partners, brokers and agents for being staunch supporters of sustainable development and eco-friendly living in Cagayan de Oro. Last July 18, Primavera Residences awarded the top sellers and brokers at a Greek-themed midyear sales event in the property’s Multi-purpose Hall.

Present during the event were Primavera Residences’ realty partners: Acts Realty, CLM Realty, Slicers Realty, GMC Realty, Nuevo Epoca Realty, RPM Realty, JCA Realty, Majestic Star Realty, Gines Realty, ABB Realty, Danrel Realty, and True Wealthy Realty Corp.

Among those who were given recognition were brokers who sold their first units: Santos Bacong III, Kevin Villaver and Helen Grace Paris.

Primavera Residences also awarded its top real-

ties, namely: RPM Realty, JCA Realty and Majestic Star Realty. RPM Realty took home the top prize, while JCA Realty and Majestic Star Realty came in second and third place, respectively. Each realty was recognized for their dedication and commitment to serving clients with honesty and integrity.

Primavera Residences general manager Cheryll

Barriga expressed her appreciation and support for all its realty partners: “Rest assured that Italpinas will always be here for all the brokers and agents who will continue to share their time and expertise with us.”

Italpinas Euroasian Design and Eco-Development Corp. (ITPI) is the developer of Primavera Residences.

Google Educators Group launches community in Cagayan de Oro Cagayan de Oro: The Cagayan de Oro community of Google Educators Group (GEG) was officially launched today at Liceo de Cagayan University. The community was inaugurated by holding its first-ever workshop wherein Google tools and apps for Education were presented and demonstrated by Google’s Education Outreach Program Manager for Asia Pacific, Mr. Philip Tanpoco Jr. 30 teachers from different private and public schools across levels were selected to participate in the workshop.

The workshop highlighted the use of Google tools in improving teacher’s performance in the classroom and beyond. After the Inaugural workshop, GEG in CDO will create activities that fosters collaboration and participation among educators in the city.

About GEG Google Educator Groups (GEGs) are communities of educators who learn, share, and inspire each other to meet the needs of their students through technology solutions, both in the classroom and beyond.

Google believes that the best inspiration to educators are other educators. It is for this reason that Google helped start a com-

munity of passionate educators, who bring the benefits of technology to schools, classrooms, and communities across the world.

GEGs provide a platform for educators to collaborate with one another, allowing them to pick up new creative ideas from one another, and to help each other best meet the needs of their students with Google solutions. GEG activities take place both online and offline. Online GEGs provide a space for educators to discuss together and learn about one another through Google+; offline, locally run events and workshops are a way to learn and share face to face.

About GEG –CDO GEG-CDO is one of the communities of GEG Philippines and the activities are managed and organized by its core group. It is composed of Roxanne Fuentes, Owen, Jaen, Jill Anne Salugsugan, Vic Marion Madriaga, and Elaine Marisol Garces. The group is currently looking for more teachers to be part of the core group.

Contact To learn more about GEG-CDO, Contact Roxanne Fuentes 09362063831, rghambre@gmail.com, gg.gg/geg-cdo n ROXANNE H. FUENTES

Top sellers, on the other hand, were awarded to Santos Bacong III, Susan Golez and Jezrelle James Manrique. Manrique garnered the top position while Golez took the second place. Bacong III came in third place.

“This night is a night to remember for all of us.

It was inspiring and heartwarming to see people like you who support the

advocacy of Primavera Residences. Thank you for helping us as we help you grow with the company, too,” said Barriga who addressed the audience.

Attendees were also treated to a raffle draw where lucky winners took home prizes, including an overnight stay at one of the units in Primavera Residences.

“This has been one of

the best years of Italpinas.

We recognize all the agents and brokers’ efforts in supporting us. We will continue to accommodate you with the best of our abilities and motivate you every day to do the extra mile,” Barriga concluded.

Primavera Residences is the first eco-friendly condo property in Northern Mindanao. It has two 10-story towers with commercial and residential units that are ready for occupancy.

It was recognized as the Best Mixed-Use Development in the Philippines by the International Property Awards at the recent 20142015 Asia Pacific Property Summit in Kuala Lumpur.

Currently, Primavera Residences has sold 92% of its spaces in Tower 1 with only 15 units left, while 87% of Tower 2 has been sold with remaining 26 units.

For inquiries on how to rent or invest, call 09177921080 or (088) 310-8173; or visit www. primaveraresidences.com.

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9

Message from the General Manager during AGMA

O

KUNG TAGA MISOR KA, SECURE KA! Governor Yevgeny Vincente B. Emano peels a banana as he interacts with the grade six pupils during the feeding program earlier today at Salay Central School in celebration of the Nutrition Month. Also, the Governor fully supports the Essential Health Care Program (EHCP) of the Department of Education (DepEd) thus distributes 100, 630 toothbrushes and 5, 383 bottles of toothpaste to elementary public schools in the province. EHCP is the flagship program of DepEd that promotes hand washing, toothbrushing and deworming among pre-school and elementary pupils.

BSP BTC - MISAMIS ORIENTAL VICE GOVERNOR JOEY G. PELAEZ speaks before the participants of the Boy Scouts of the Philippines - Misamis Oriental Council’s Basic Training Course (BTC) at Initao Central School, Initao, Misamis Oriental. It was attended by ninety (90) newly hired teacher from the municipalities of Lugait to Opol. The BTC aims to revitalize the Scouting Movement in the Province of Misamis Oriental. Vice Governor Pelaez is currenly a Regular Member of the BSP National Executive Board and at the same time the Chair of BSP-MisOr.

SPECIAL POWER PLANT VISITOR: Personnel of energy firm STEAG State Power Inc. (SPI) eagerly watch a healthy hawksbill sea turtle released at the shores of the 210 MW Mindanao Coal-Fired Power Plant in Villanueva, Misamis Oriental. The DENR’s Protected Areas and Wildlife Division estimate the turtle to be at least 30 years of age and has a length of nearly one meter. The sea creature was found along the shoreline area of Steag’s power plant and was kept for observation and safekeeping by the company’s environment protection office prior to discharge by DENR-PAWD personnel. The World Conservation Union classifies the hawksbill turtle (scientific name Eretmochelys imbricata) as critically endangered.

n behalf of the Management and Staff, I once again convey our very best wishes for the entire membership of FIBECO. I congratulate everyone for the release of this Annual Report documenting meaningful events in the life of our cooperative.

The conduct of our 32nd Annual General Membership Assembly is auspicious as it marks a new era for FIBECO’s technological advancement.

It is also significant as we share with you our humble contribution to the power sector industry that makes us proud of what we are capable of achieving---by setting an example among other electric cooperatives across the country at a breathtaking leap.

We are fortunate enough to enjoy the appreciation and patronage in both sharing joy of our accomplishments and being with us in times of uncertainty when we needed most your support and understanding.

The year that was 2013, is by far, the most challenging year for all of us. Factors which were mostly external ones had crept upon before us, threatening to tear down the edifice which had been built a long time ago. Thanks to our leaders, our loyal employees and most of all our member consumers, who stood by us amidst all the challenges we have encountered.

Ever since, FIBECO had envisioned a globally competitive electric service provider in this part of the countryside. This vision has been slowly realized in the passage of time. To become competitive, in my view, would not just be a game of numbers, or by the sheer number of households it served with electric lights, but a LOCUS STANDI, a standing which comes from a position of strength emanating from technological leadership.

Technology is a resource that every institution strives to acquire and use. Today it is considered the supreme element of development as it brings-in self-reliance and selfconfidence to the organization. Last year, I impressed upon the readers of this report relevant accomplishments that were carried over this year as to their benefits enjoyed. By now, we have confidence bestowed by the Department of Energy as they approved and awarded three (3) Biomass Renewable Energy Operating Contracts or BREOC and one (1) mini hydro service contract for the Renewable Energy undertakings of FIBECO. I take this occasion to express our gratitude to the agency in exuding confidence in us. We also have launched our state of the art SCADA system which at this point has become the favorite benchmarking destination of our sister cooperatives across the country. Our FIBER OPTIC communication highway has likewise become our innovative masterpiece that in a period of just one year, it brought remarkable accomplishments that have been brought-in especially to our day to day operations.

In the coming years, we plan to bring new accomplishments using this advancement in technology and project oriented operational strategy with the advantage of effective Human Resource Management. Innovations could be only half of the work, if we do not apply them to real life.

This year, our Administrative Office and CorPlan/InforTech Department has been tasked to work on key applications to improving the quality of job performances through the use of Consumer Management Business Integrated System or CMBIS. This is the concrete conceptualization of this

year’s foundation anniversary theme which aptly states that, “Together Everyone Achieves More (TEAM)”.

Apart from our own dedicated employees, we have also engaged the expertise of our allied personnel in implementing the government’s flagship project, the Sitio Electrification Program (SEP) and the Barangay Line Enhancement Program(BLEP).

To date, we are the frontrunner in the implementation of these twin programs, thanks to the National Electrification Administration for approving as many sitios we have identified for energization. We likewise tapped expert consultants and Project Management Teams in our RE generation efforts and in undertaking the USAID funded grant on the Biomass Resource Assessment for selected areas in Mindanao. On this note, I wish to express our sincerest gratitude to the Mindanao Development Authority for all its support to FIBECO.

Ladies and Gentlemen, through the years, FIBECO has gradually developed a tradition of innovative delivery of electric service which met highly specialized requirements in the field of power distribution and hopefully, power generation in the next five years or so. We have recently witnessed many events such as, the inauguration of the four proposed power plants in response to the looming crisis besetting our region.

My congratulations to our Project Management Teams and the corporate officers of FIBECO generation project

companies for the decisive act of carrying into effect the deliverables required in the abovementioned BREOC and service contracts. The FIBECO management is not sitting quiet, as we are now very closed to the finish line. We also wish to express gratitude to the appreciation of the NEA to these undertakings through their newly created Office of the Renewable Energy Development (ORED).

This year is indeed a banner year for FIBECO. Our boss—the member consumers---are evidently happy to what the Board, the Management and Staff have done for our common benefit and welfare. The challenges that we are facing are as exciting as the unfolding of the year ahead. Our team is charged and fully geared to convert these challenges into opportunities. Indeed, “Together Everyone Achieves More”!

I wo u l d l i k e t o t a k e t h i s opportunity to thank the member consumers for the encouragement and understanding which enable us to attain our avowed ROADMAP. Your cooperation has become our competitive edge that helped us gain strength, and together we shall come out of our testing moments, victorious as always.

Lastly, I take this opportunity to thank everyone who in their own ways helped FIBECO achieved its goals over the year, and look forward to an equally exciting and rewarding years to come.

Thank you and may God continue to bless us always!

ENGR. RENATO S. CORTEZANO General Manager

Management Staff Head of Office Position/ Office Engr. Renato S. Cortezano, General Manager Luzminda L. Pallasigue, Finance Services Department Manager Armando A. Cantoy, Institutional Services Department Manager Engr. Antonio N. Obice, Jr., Technical Services Department Manager Reynaldo B. Balaba, CPA Internal Auditor Engr. Japhet P. Nermal, CorPlan/InfoTech Department Manager Ester B. Baylon, Area Manager, Don Carlos Sub-Office Alitha M. Apao, Area Manager, Maramag Sub-Office Celso M. Manlangit, Area Manager, Kalilangan Sub-office Jimmy P. Agustin, Area Manager, Kibawe Sub-office Engr. Rouel O. Rondina, Officer-In-Charge, Quezon Sub-office Felipe H. Lopez, Jr., Area Manager, Valencia Sub-office Marianne C. Selecios, MBA Administrative Division Chief Leonardo R. Aton, Construction, O & M Division Chief Engr. Leo Marconi R. Carrillo, Consumer Services Division Chief Eleuterio G. Langajed, Jr., MBM General Accounting Division Chief Hydee S. Bungcas, MBA, LLB Member Services Division Chief Engr. Angelito B. Cabalgada, Planning and Design Division Chief Seraphim B. Sabellina, LLB Executive Secretary Employment Status Total Regular - 224 Probationary - 6 Total - 230 Employee-consumer ratio - 1:518

BusinessWeek MINDANAO

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Philex...

RFM...

Pitkin Petroleum Plc, another subsidiary of the company, holds 25 percent of the Peru Block Z-38’s stake participating interest.

On the other hand, under a buy-back program, Pitkin bought back 11,099,000 or 7.93 percent of their total issued shares at per share. It increased Philex’s stake in the company from 50.29 percent to 53.07 percent.

Philex also mentioned the complete acquisition of 2,235 line-kilometers of 2D seismic data in SC 75 NW in Palawan, received on April 15, 2014, which are currently being processed and interpreted. It is expected to be done by the first quarter of 2015.

The company’s entitlement to the operating interest in SC 75 NW is at 50 percent.

Philex Petroleum ‘s Brixton, a full subsidiary, also said that the agreements are being finalized for the assignment of Coal Operating Contract 130 (“COC 130”) in Zamboanga Sibugay. It was given to Grace Coal Mining and Development on Jan 7.

The coal mines were deactivated since September 2013, after the company decided the product was not profitable.

However, the COC 130 assignment was stated to be awaiting approval from the DOE. Philex Petroleum Corporation is an oil and gas company in the Philippines, with oil and gas exploration assets in the country.

The company also has indirect oil and gas exploration assets based in Peru. (PNA)

higher, if not for the delays caused by the Manila truck ban and the Manila port congestion.

Conception cited that the higher net income came from the core businesses of the company.

“We also saw double digit growth in our major consumer brands, and we shall continue to prioritize our efforts in these categories,” he said.

On the other hand, the company expects a higher net income at the end of the year, for the latter is the usual stronger half.

RFM’s famous brands includes Selecta, Fiesta, Royal Pasta Brand, Pop Cola and Sarsi.

S p e c i f i c a l l y, R F M’ S products are Selecta Milk, White King cake mixes, Sunkist beverages, Swift meat products and Republic and Cinderella flour, Selecta Ice cream, Selecta Fortified Milk, Vitwater (vitamin-enriched water), Alo Green Tea and Alo Youth juice drink (both with Aloe vera jelly bits), and the sachet packed Swift corned beef. (PNA)

from page 4

DEED OF EXTRA JUDICIAL SETTLEMENT OF ESTATE WITH CONFIRMATION OF SALE

Notice is hereby given that the intestate estate of the Late IRENE E. VDA DE LUANSING, who died on June 19,2005 in Bagacay Ozamiz City,died leaving without a WILL and neither did she have any outstanding obligation/debt to any person.

Left a “PARCEL 1. Described as Lot No. 5203-F-4, Psd-10-026888 being a portion of Lot 5203-F, Psd10-008045 situated in the Barrio of Diguan, City of Ozamiz, Island of Mindanao. Containing an area of THREE HUNDRED (300) Square Meters, more or less, covered by Transfer Certificate of Title No. T-23881”,“A PARCEL 2, described as Lot No. 5203-F-5, Psd-10-026888 being a portion of Lot 5203-F, Psd10-008045 situated in the Barrio of Diguan, City of Ozamiz, Island of Mindanao. Containing an area of THREE HUNDRED (300) Square Meters, more or less, covered by Transfer Certificate of Title No. T-23882”,“PARCEL 3, described as Lot No. 5203-F-12, Psd-10-026888 being a portion of Lot 5203-F, Psd10-008045 situated in the Barrio of Diguan, City of Ozamiz, Island of Mindanao,containing an area of THREE HUNDRED (300) square meters more or less, by Transfer Certificate of Title No-T-23889” and “PARCEL 4, described as Lot No. 5203-F-13, Psd-10-026888 being a portion of Lot 5203-F, Psd10-008045 situated in the Barrio of Diguan City of Ozamiz, Island of Mindanao. Containing an area of THREE HUNDRED (300) Square Meters, more or less, covered by Transfer Certificate of Title No. T23890”,is the subject of DEED OF EXTRA JUDICIAL SETTLEMENT OF ESTATE WITH CONFIRMATION OF SALE, as per Doc.No.98; Page No. 20; Book No.II; Series of 2014,under notary public ATTY. PRISCILLA TAPANG HERNANDES. BWM: July 21, 28 & Aug. 4, 2014

from page 4

Burden... from page 5

effect on the stability of the economy and improved fiscal space are mainly caused by the administration’s proactive liability management agenda and corporate governance

reforms,” National Treasurer Rosalia V. De Leon said.

“This healthy trend was a major component in the investment grade rating we got last year,” she added.

The country last year reaped the benefit of years of fiscal discipline with the conferment of an investment grade, the first in Philippine history.

Besides the government’s sound fiscal management, rating firms ascribed the upgrade to the country’s strong balance of payments (BOP) position.

Bunye... from page 6

medication, healthy diet, plenty of exercise and keeping the weight down. To these, I would add sufficient sleep.

With my recent retirement from the Monetary Board, I now have the chance to follow the regimen more strictly especially the exercise part. Freed from regular time schedules, I can now spend a little more time walking/ jogging or swimming on alternate days.

As for diet, I follow the rule: Ever ything in moderation. But no cigarettes and no sugared drinks.

Lately, I have also been more inclined to a diet of fish, fresh fruits and vegetables.

I “tweak” my carb intake depending on whether I am above or below my desired weight.

As for sleep, I try to sleep

a minimum of 7 hours. Lights out by 10 p.m. so I can walk/ jog by 5 a.m.

To all my media friends, we can DOH it (as Secretary Juan Flavier once proclaimed).

But we have to start now.

Diabetics of the world, unite!

For feedback, you may email me at totingbunye2000@ gmail.com.

Cimagala... from page 6

Verily, the duty to witness and to preach devolves to all Christians, not just to their priests, ministers, or pastors, considering the directive of Jesus to preach His Gospel to all the nations.

This is in consideration of the fact that events leading to the end of this world, as graphically described by Jesus in Matthew 24, Luke 21 and Mark 13, are now happening with scary precision.

-ooo THE DUTY TO WITNESS FOR JESUS: The Biblical fact is that, this duty to witness for Jesus and to preach the Gospel is no longer limited to religious or spiritual leaders of the churches who profess to be Christians. It has become the duty of every believer, even if they are mere ordinary church members, to go out and be a witness for Jesus, and to preach His Word.

In 1 Corinthians 1:26-29, the Bible says: “Think about the circumstances of your

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10TH Judicial Region Branch 17 Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE FILE NO. 2014-150 Upon extra-judicial petition for sale under Act No. 3135 filed by PLANTERS DEVELOPMENT BANK, mortgagee, with office at 314 Sen. Gil Puyat Ave., Makati City, against SPS. SAMUEL P. RESPONSO and MARY CHIRALI C. RESPONSO,mortgagors,residing at 75 Aquarius St., Villa Ernesto,Cugman,Cagayan de Oro City,to satisfy the mortgage indebtedness which as of January 20,2014,amounts to TWENTY FOUR MILLION NINE HUNDRED ONE THOUSAND TWO HUNDRED FIFTEEN PESOS & 37/100 (P24,901,215.37), excluding penalties,charges,attorney’s fees and expenses of foreclosure, the undersigned or her duly authorized deputy will sell at public auction on August 20,2014 at 10:00 A.M. or soon thereafter at the office of the Clerk of Court, Regional Trial Court, Branch 17,Hall of Justice, Cagayan de Oro City to the highest bidder, for cash or manager’s check and in Philippine Currency the following property with all improvements, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-45971 “A PARCEL OF LAND, Lot No.2895,Pls.923(Lot 1,Ccs-10-000570-D) situated in the Barrio of Katipunan, Municipality of Villanueva, Province of Misamis Oriental, Island of Mindanao. Bounded on the North., along line 1-2 by Lot 2896 (Lot 2,Ccs-10-000570-D); x x x . . . . Containing an area of Two Thousand Four Hundred (2,400) square meters, more or less.”

TRANSFER CERTIFICATE OF TITLE NO.T-111320 “A PARCEL OF LAND (Lot 2629-B-2-B, Psd-10-001107,being a portion of Lot 2659-B-2,Psd-10-000660), situated in the Barrio of Cugman, City of Cagayan de Oro, Island of Mindanao. Bounded on the N., along line 1-2

by Lot 2629-B-1,Psd-10-000660 ( Republic of the Philippines); x x x x. . . . Containing an area of One Thousand Seventeen (1,017)square meters, more or less.”

All sealed bids must be submitted to the undersigned on the above-stated date, time and place.

In the event the public auction should not take place on the said date for whatever reason, the public auction will proceed on the next working day, without further notice, posting and publication.

Prospective buyers may investigate for themselves the title herein-above described and encumbrances thereon, if any there be.

Cagayan de Oro City, July 3, 2014.

(Sgd.) FE O.BONTUYAN-BULARON

Sheriff IV BWM: July 21, 28 & Aug. 4, 2014

call, brothers and sisters. Not many were wise by human standards, not many were powerful, not many were born to a privileged position.

But God chose what the world thinks weak to shame the strong…”

This is the reason why at t he Ana k ng D iyo s Kadugo Ni Kristo Church, the consuming objective is to train each and every “Kadugo”, the name by which every member is called, to read, meditate on, and obey the Bible at all times, so they could also start witnessing and preaching for Jesus. If you, our readers here, are desirous to preach, too, join us, by calling me at 0917 984

24 68.

-ooo REMINDERS: Please tune in: “Tambalang Batas at S o m i nt a c”, at 1 0 6 2 kHz on t he AM b and, Mondays to Fridays, at 6 a.m., simulcast, real time, over 1080 kHz in Dagupan City, 711 kHz in Naga City, 1260 kHz in Lucena City, 1224 kHz in Davao City, and worldwide, at www. eaglenews.ph; “Kakampi Mo Ang Batas”, at 103.7 mHz in Don Carlos, Bukidnon, Mondays to Fridays, at 7 a.m.; and “Kakampi Mo Ang Batas” at 801 kHz on the AM band (Panay Island), Mondays to Fridays, at 10 a.m.

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region BRANCH 16 - TANGUB CITY IN THE MATTER OF ADOPTION SP. PROC.NO.TC-2014-002 AND CHANGE OF NAME OF FRANCIS JAY ANTHONY YBASCO TO FRANCIS JAY ANTHONY YBASCO MANTUHAC, SPS. GERONIMO N. MANTUHAC AND JOAN Y MANTUHAC, Petitioners.

X--------------------------------------------/ ORDER The verified petition seeks the adoption by petitioners of Francis Jay Anthony Ybasco, prays for the change of his name from Francis Jay Anthony Ybasco to Francis Jay Anthony Ybasco Mantuhac should the instant petition be granted and alleges that petitioners, husband and wife, respectively, residents of Migcanaway, Tangub City, who are in possession of full civil capacity and legal rights, of good moral character, have never been accused or convicted of any crime involving moral turpitude, are emotionally and psychologically capable of rearing children and are not disqualified by law to adopt, desire to adopt as their own child Francis Jay Anthony Ybasco, 21 years old as evidenced by his Certificate of Live Birth (Annex “B”), who has been living with petitioners since his minority, who is 16 years younger than petitioners and who is not disqualified by law to be adopted.

NOW, THEREFORE, finding said petition to be sufficient in form and substance , let this petition be set for hearing on November 19, 2014 at 8:30 o’clock in the morning at the Session Hall of this Court, at which date, time and place, any interested person may appear and show cause why the instant petition should not be granted.

Let this Order be published, for three (3) consecutive weeks at the expense of petitioners, in the BusinessWeek Mindanao, a newspaper of general circulation in the province where this Court is situated.

Further, the Chief of the local Social Welfare and Development Office of Tangub City is hereby directed to conduct a child and home study on petitioners and counseling session with petitioners on the matter of the adoption of adoptee and to submit her reports thereon before the date of hearing.

Let copies of this Order be furnished the Office of the Solicitor General , the City Prosecution of this city, the Department of Social Welfare and Development, the biological parent of the adoptee and the petitioners.

SO ORDERED.

Tangub City, Philippines, June 5, 2014.

(Sgd.) SYLVIA A. SINGIDAS-MACHACON

Judge BWM: July 28, Aug. 4 & 11, 2014

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region Branch 16, Tangub City OFFICE OF THE CLERK OF COURT AND EX-OFFICIO SHERIFF NOTICE OF EXTRA-JUDICIAL SALE EJF-2014-005 Upon extra-judicial petition for sale under Act 3135 as amended by Act 4118 filed by Rural Bank of Tangub City, INC., against Sotero Manlangit and Elaine R. Manlangit to satisfy the mortgage indebtedness which as of July 11, 2014 amounts to Two Hundred One Thousand Three Hundred Thirty Three Pesos and 33/100 Only (Php 201,333.33) excluding interest, attorneys fees, and other lawful fees for the service of foreclosure, the undersigned Sheriff will sell at public auction on September 17, 2014 at 10:00 o’clock in the morning or soon thereafter at the office of the Clerk of Court, Regional Trial Court,Br.16, Tangub City, to the highest bidder in cash, Philippine Currency the herein mortgage properties to wit: TAX DECLARATION NO. 28900 Presently Covered by TD. No. 88127 “A parcel of land (residential) and all improvements thereon; situated in the barrio of Barangay V, City of Tangub. Bounded on the North by 001; on the South by 014; on the East by 015 and on the West by 019.

Containing an area of TWO HUNDRED ELEVEN (211) SQUARE METERS more or less. Assessed at P 3,100.00 as per Tax Declaration No. 28900.”

TAX DECLARATION NO.21147 Presently Covered by TD No. 88126 “A parcel of land and all improvements thereon; situated in the barrio of Barangay V, City of Tangub. Bounded on the North by 013 , on the the East by 015; and on the South by 018; and on the West by 019..

Containing and area of ONE HUNDRED (100) SQUARE METERS, more or less. Assessed at P980.00 per TAX DECLARATION No. 21147.”

All sealed bids must be submitted to the undersigned on the above stated time, date and place of auction sale.

In the event that the public auction should not take place on said date or there is only one bidder, it shall be held on September 22, 2014 at the same time & place without further notice.

Bidders are enjoined to investigate for themselves any encumbrance on the herein properties if any there be.

July 17, 2014, at Tangub City, Philippines.

FOR THE EX-OFFICIO SHERIFF:

BY: (Sgd.) WILLIAM C. ARANIEGO Sheriff IV BWM: July 28, Aug. 4 & 11, 2014

BusinessWeek MINDANAO

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Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

monday|July 28, 2014

Awardees... from page 1

Anchored on the theme “Celebration of the Island’s Business Successes,” the awarding rites was held Saturday (July 26) at the Ayala Centrio Mall, Cagayan de Oro City and attended by various business and local leaders.

This year’s recipients of the awards in various categories are: Sumipro Phils, Inc for Agri-business; !st Valley Bank for Banking and Finance; First Community Cooperative for Cooperative Banking; Alrose Group of Companies for Food Manufacturing and Marketing; A Brown C omp any for Hou s i ng and Realty Development; Royal Mandaya Hotel for Hotel Industry; Dahilayan Adventure Park for Resorts and Tourism Development; D ennis Uy of Pho enix Petroleum Phils, Inc. for Mega Entrepreneur catagory; Salay Hand-made Paper Industries, Inc. for Social Entrepreneur category; JCA Realty for service; Anakciano, Inc./Lechon Manok Ni Sr. Pedro for Food Production; Work Area Business Center for Business Entrepreneur catageory; Yulo Tee/GTY Marketing for Trading; Oro Asian Automotive Center Corporation for Transport Industry and Italpinas, Inc. for Alternative Energy.

The Board of Judges included Philippine Press Institute Executive Director Ariel Sebellino, chairman; Oro Chamber President Efren Uy; Director Catalino Chan III of the Department of Tourism, Region 10; Cagayan de Oro Water Dist r ic t Chairman Ruben Vegafria; and BusinessWeek Mindanao Editor-in-Chief Nelson V. Constantino.

The co-presenters of the awards are Philippine Veterans Bank represented

by VP for C orporate C om mu n i c at i ons Mi ke VillaReal; Asian Hills Bank and Asian Hills Group of Companies under President and CEO Estelito Marabe; and the Ayala Land Group and Centrio.

The City Government of Cagayan de Oro; Misamis Oriental Provincial

Government; STEAG State Power ; Mindanao Development Authority (MinDA); Yanson Group of Companies; National Grid Corporation of the Phils; Global Chips; Signhead; Cagayan Times and Mindanao Star are among this year’s sponsors. “ T h e aw a r d e e s a n d nominees are the driving force of Mindanao’s successes, instrumental in moulding the region into what it is today, a shining example to the world which Mindanoans should recognize through media. Leaders are forged by circumstances and each of us has to play our part,” Sudaria said.

Various civic organizations and civil society groups have also thrown their support in the yearly event intended to give back the honor to deserving business leaders in Mindanao for the glory they have brought to this island, Sudaria added.

T h e g roup s i n clu d e Rotary Club of Cagayan de Oro under president Luigi Sarraga; the Oro Bankers Club led by president Lina Estrella Faburada; the People Management Association of the Philippines with Dr. Wilma Magdale, trustee for Mindanao; Cagayan de Oro Press Club president Jerry Orcullo; and Atty. Celso Miquiabas Jr. of BCBP.

SONA... from page 1

years in office.

He said that the Bangsamoro Basic Law (BBL), considered as the landmark achievement of the Aquino administration, would bring lasting peace in Mindanao.

“O n c e t h e B B L i s approved in Congress, peace and economic stability in Mindanao follows,” Rodriguez said.

In Cagayan De Oro City, the Cagayanons have expressed the optimism that the Aquino administration would commit in the construction of the P 2.5 billion Skyway that would become a landmark of economic development in Northern Mindanao, Rodriguez said.

He said that the construction of another

project, the P 2.5 billion diversion road toward the Laguindingan Airport in Misamis Oriental will certainly boost and unprecedented economic boom in the region.

Rodriguez also lauded the first four-year of the Aquino administration as one that went down in the annals of the economic development in Southeast Asia.

“The Philippines attained a 7.2 gross national product (GNP) growth in 2013, one of the highest economic growths in Asia, next only to China,” he said.

The unprecedented economic growth has boosted international confidence that the Moody Ratings (one of the world’s Big Three Credit Rating agencies) has posted a positive outlook on the Philippine economy, Rodriguez said.

Considered as one of the rising economic tigers in Asia, Europe has, once again, opened its skies to the Philippine airline companies that would certainly set of f fore i g n i nve st me nt opportunities in the country.

R o d r i g u e z s ai d t hat President Aquino’s SONA next week would be more of economic development and opportunities ahead as the country prepares for the ASEAN economic integration in 2015. (PNA)

PSALM... from page 1

market price and their actual cost of utilizing their facilities shall be settled by PSALM. In effect, PSALM will be subsidizing the cost difference that cannot be collected by the genset facilities from the WESM – since applying for cost recoveries with the Energy Regulator y Commission (ERC) is not necessarily a palatable option for them.

Pe t i l l a note d t hat PSALM board chairman Cesar Purisima has been proposing the use of the Malampaya funds to cover the price difference that must be subsidized – if an option to recover such eventually under the universal charge (UC) will be unsettling to many industry players and the Filipino consumers.

As k e d o n t h e v e r y haphazard record of PSALM on handling contractual arrangements and managing liabilities, the energy chief indicate d t hat Finance Secretar y Purisima will strictly monitor how the supply contracting measure for the company shall be enforced.

Petilla qualified that the government will only resort to this as a ‘band aid measure’ for summer of 2015, in the hope that both Luzon and Visayas grids can be provided with additional 800 megawatts during the critical summer months.

The energy chief noted that the colatilla (conditions) for lifting of the emergency powers will be provided – and it shall be anchored on assurance that supply will not fall short on next year’s summer.

By 2016, he stressed that such ‘emergency powers’ will no longer be needed on assumption that the 414MW San Gabriel power plant of First Gen Corporation will already come on stream and would be able to plug a fraction of the system’s capacity needs.

PSALM has yet to make simulations how much it will cost to subsidize the additional needs of the system for summer 2015 as hinged on the energy department’s proposal of shored up supply contracting.

In a statement, the DOE emphasized that it needs “to prepare early to ensure a steady supply of energy next year.”

It stressed that “the projected demand by 2015 is 9,011 megawatts which is higher than this year’s actual demand of 8,717MW,” – attributed mainly to the massive economic expansion and development in the country.

The extreme need for capacity additions for 2015 has long been indicated in various forums, but many of the new power plants will only be on commercial comm iss ion ing arou nd 2016-2017 due to delays in project implementations, such as permitting processes with various government institutions.

Oil...

from page 5

billion in the same month last year. Seminconductors are used in the assembly of electronics products that comprise the country’s biggest merchandise export.

The increase in components is reflected in a similar uptick in raw materials and intermediate goods, which climbed by 6.3 percent to $2.374 billion this year from $2.234 billion last year.

“Notwithstanding the successive contractions in capital goods imports since February 2014, the upward trend in the importation of raw materials and intermediate goods and consumer goods,

11

which grew by 6.3 percent and 0.8 percent, respectively, is indicative of the continuing confidence of both businesses and consumers,” Balisacan said.

With imports growing faster than exports in the first 5 months of the year, the country’s tradein-goods deficit widened to $2 billion this year from $1.8 billion last year.

The country’s trade in goods comprises the bulk of its current account, a surplus in which has helped anchor the Philippine economy despite turmoil in global financial markets. The Bangko Sentral ng Pilipinas (BSP) expects the current account to remain in surplus this year, bolstering the country’s balance of payments (BOP).

NEW LIGHT PAWNSHOP Main: Gen. Capistrano Neri St., Cagayan de Oro City Branch: Don. S. Osmeña St., Fronting Public Market, Cagayan de Oro City NOTICE OF AUCTION Starting August 1 & 2, 2014 (Friday & Saturday) at 9:00 A.M. to 5P.M., this establishment will set an Auction Sale on all pledges since March 2014. Patrons are enjoined to verify their receipts.

MANAGEMENT PAHIBALO Sa Agosto 1 & 2, 2014, ang (Bernes & Sabado) sa may 9:00 sa buntag paingon sa alas 5;00 sa hapon, ang tanan nga penirenda nga wala malukat sa bulan sa Marso 2014 maapil sa subasta.

Giawhag ang tanan suki sa pagsusi sa ilang resibo.

ANG TAGDUMALA GREAT VALUE PAWNSHOP V. Catro St., Carmen, Cagayan de Oro City NOTICE OF AUCTION Starting August 1 & 2, 2014 (Friday & Saturday) at 9:00 A.M. to 5P.M., this establishment will set an Auction Sale on all pledges since March 2014. Patrons are enjoined to verify their receipts.

MANAGEMENT PAHIBALO Sa Agosto 1 & 2, 2014, ang (Bernes & Sabado) sa may 9:00 sa buntag paingon sa alas 5;00 sa hapon, ang tanan nga penirenda nga wala malukat sa bulan sa Marso 2014 maapil sa subasta.

Giawhag ang tanan suki sa pagsusi sa ilang resibo.

ANG TAGDUMALA BWM july 28, 2014

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BusinessWeek MINDANAO

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Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

monday|July 28, 2014

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776