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Volume V, No. 9
Market Indicators
As of 5:55 pm june 26, 2014 (Thursday)
FOREX
PHISIX
US$1 = P43.87
6,892.18 points
3 cents
X X Briefly 57.50 points
New Philpost services THE Philippine Postal Corporation (PHLPOST) Central Mindanao Area 8 has leveled up, now offering its new services. During the recent Career Executive Officers – Northern Mindanao (CEO-NM) agency familiarization, PHLPOST Area 8 Director Nimia Acebes introduced to the regional directors and heads of government agencies in Northern Mindanao the different and competitive services PHLPOST deliver. From the usual three categories particularly financial, mail services and other products, they have narrowed them down to business lines which include mail services, postal payment, retail services, logistics and other services. They offer Electronic Postal Money Order (ePost MO) for remittances, wherein anyone can claim remittance from the post office where there is ePost MO.
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Friday | June 27, 2014
Whitewater rafting operators feel crunch
T
By FROILAN GALLARDO, MindaNews
HE whitewater rafting adventure industry that has made Cagayan de Oro City famous among tourists has suffered a backlash caused by bad publicity over the June 13 accident that claimed the life of a nurse from Bohol.
Vital Espulgar, president of the Oro Association of Rafters (OAR) and operations manager of the Golden Friendship Outfitter group, said over 200 tourists cancelled their tours last week because of the accident. “Many of those who cancelled are parents whose children have booked tours and corporate employees who have planned to go white water rafting with us,” Espulgar said. “Many of those who called to cancel told us they got scared after learning of the accident,” he added. Another tour operator, Rex Tapungot of Red Rafts, said 104 of his clients for this weekend have also cancelled their tour. rafting/PAGE 10
City dads review ‘river rafting’ ordinance By CRIS DIAZ, Executive Editor
THE Cagayan de Oro City Council have started to review the Ordinance that spells out rules on “Whitewater River rafting” in the treacherous Cagayan De Oro River here. City Councilor Alden Bacal, author of Ordinance No. 110872008 that allows the operation of Whitewater River rafting, said on Thursday that “while the occurrence of accidents are inevitable, the damage to life and property could be minimized.” Bacal recalled that one of the earlier amendments was the prohibition of “raft flipping” and other dangerous maneuvers while river rafting along the rapids of Cagayan De Oro River. He said that the Safety Organization of the Philippines review/PAGE 10
Water project OPOL, Misamis Oriental –- The Department of Public Works and Highways (DPWH) has turned over the completed flood control project worth P 9.3 million to local officials here, town Mayor Max Seno said on Thursday. Seno said that the project involved the slope protection or River Flood Control along the riverbank of Barangay Barra here, one of the villages in Misamis Oriental that went under water when the Iponan River in Opol overflowed at the height of Typhoon Sendong in 2011. He said that the Japan International Cooperation Agency (JICA) funded the more than 3 kilometers river dike that replaced the old river dike damaged by Typhoon Sendong and the series of flash floods.
THE
OTOP. Mayor Oscar Moreno leads the ribbon cutting together with Department of Tourism Region 10 Director Catalino Chan III and Vjandep owner Eleanor Jose during the opening of One Town One Product (OTOP) store in SM City Cagayan de Oro. The OTOP store features more than 50 local products from all over Misamis Oriental including meat products, pastries, native sweets, concoctions, beverages, bags and other creations.
RIVER WILD. Tourists enjoy the thrill and fun experience of white water rafting on board an inflatable raft down the rapids of the Cagayan de Oro River. The City Council has started reviewing the ordinance that governs the white water rafting activities to avert similar incident last week that killed a tourist. mindanews photo by erwin mascarinas
Primavera Residences offers sound investments with buy-to-rent units As Cagayan de Oro becomes one of the country’s most progressive cities, consumer demand for accommodation opens up a lot of opportunities for addit iona l income. Serviced condo or condotel units are now turning out to be good buy-to-rent property investments. In another pioneering move, Primavera Residences, Cagayan de Oro’s internationally-awarded ecofriendly condo property, announces the launch of its serviced condos for short to extended stays.
“A s e r v i c e d c o n d o combines the flexibility of ownership with hotel-like services such as cleaning, maintenance and security. Un it ow n e r s h av e t h e option to rent it out to short-term or long-staying guests,” explained Primavera Residences general manager Cheryll Barriga. Serviced condos are a solution to typical short term or relocation housing needs, she continued. Typically larger than hotel rooms, condos are less expensive
and homier options for those on business trips or longterm project assignments. Families will find one- or two-bedroom units with fully-fitted kitchen ideal. full story / page 9
‘Water dwellers’ grow nutritious, organic veggies thru small-scale, container gardens (Conclusion) By BONG D. FABE, Correspondent
OUR ver y own classic nursery song “Bahay Kubo” has immortalized vegetables that helped make it the single
food group that children memorized early in life. But come dining time, only very few children appreciate and
eat vegetables. The song is not enough to propel eating vegetables to stardom in the dining table. But with urban container gardening (UCG), children grow/PAGE 10
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NCCA, CDO gov’t to draft cultural development plan By JASPER MARIE OBLINA-RUCAT, Contributor
THE National Commission for Culture and the Arts
(NCCA) through its Taoid Heritage Program partnered
with the city government of Cagayan de Oro to draft a Cultural Development Plan to enhance and develop the cultural heritage here. Rev. Fr. Harold Rentoria, O S A , C o m m i s s i o n e r, Subcommission on Cultural Heritage (SCH) and Head, National Committee on Archives of NCCCA, during the opening of the program here on June 20 said that their mandate is to protect and conserve cultural heritage. Through partnership with the city, they will be able to identify cultural icons and preserve the cultural heritage of the city and promote it not only in the Philippines but international arena as well. He e mp h a s i z e d t h e importance of tourism. He said that the cultural icon identified could be part of
the tourism package of the city. “Promoting also means preserving what we have,” he said. NCCA will also do cultural mapping with all stakeholders in the city specifically the members of different culture and arts group to identify cultural icons in the city. He also commended the city for having a City Archives, a first in Northern Mindanao. Finally, NCCA and the city government through M a y o r O s c a r Mo r e n o signed a memorandum of understanding for the implementation of the Taoid Heritage Program in the city. Taoid is an Ilocano word for “inheritance” or “mana.” The word has been adopted draft/PAGE 7
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Govt allocates P289M for Kalabugao Plain road concreting project ROAD less travelled no more as the government is s e t to a l l o c ate P 2 8 9 million for Kalabugao Plain, traversing DamayKalabugao, road concreting project by 2015. During the Regional Peace and Order (RPOC) peace convergence visit on June 18-19, Atty. Rene K. Burdeos, regional director, Department of Interior and Local Government (DILG), region 10, and head of the Secretariat for RPOC-10, bared that the Office of the Presidential Adviser on the Peace Process (OPAPP) has committed the amount for the road project. Kalabugao Plain, a home of Higaonon tribes and a strategic watershed area of Pulangi River, is at the triboundary of the provinces of Bukidnon, Misamis O r i e nt a l f o r No r t h e r n Mindanao and Agusan del Sur in Caraga Region.
Fu r t h e r, K a l a b u g a o symbolizes far-flung areas of rural communities. It has weak government presence, poses high incidence of conf lic ts and app arent poverty but has high potential to develop the Indigenous People (IP) with the presence of church and civil society. Burdeos echoed Kalabugao Plain is important because it affects other parts of Mindanao. The flood in Gingoog, Butuan, Cagayan de Oro and in Davao and Cotabato as well come from it. Attaining peace and order is also essential because people need to live without worrying what happens to their families or homes. D u b b e d Pe a c e a n d Development Convergence Program for Kalabugao Plain, the RPOC-10 Technical Working Group (TWG) has conceptualized the program aimed to develop Kalabugao project/PAGE 11
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SINGAPORE - An unusual parallel rally in Asian bonds and equities, powered for the last five years by cheap global funds, could give out soon with debt becoming a casualty of the increasing confidence in the outlook for global growth. Bonds are now pricing in an extremely bleak economic out l o ok , m a k i ng t h e m susceptible to any spike in long-term rates. The rise in equities has been less pronounced, leaving room
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it wants to be in, he said. “If there is a growth area, we would like to be ahead of foreign competition on those areas such that by the time they come in, we’re already in a good position.” The Philippine banking industry is small relative to the region, COL Financial’s Ang said. The market is also underpenetrated and less developed, offering growth potential, he said. Eight in 10 Philippine households have no deposit accounts, according to Bangko Sentral ng Pilipinas’ first consumer finance survey published in April 2012.
More than half of the 50 branches BDO opened last year and the same number planned this year will be outside of Metro Manila as regional cities including Cebu and Iloilo in the Visayas, Davao and Cagayan de Oro in Mindanao and Legazpi and Pampanga in Luzon boom, Tan said. Wh i l e Me t rop o l it an Manila accounts for 36 percent of the national output, four of the five fastest-growing regions in 2012 were in the Visayas and Mindanao, according to government data. The bdo/PAGE 7
It’s Asian bonds, not equities, that are too rich
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that borrow P5 million on average, Tan said in his office in Makati City. The bank is also counting on rising credit demand from the biggest companies, including Ayala Corp. and San Miguel Corp., as they bid for $20 billion in infrastructure projects backed by Aquino. “We will be threatened because the Philippine market is very attractive,” Tan said. “While Metro Manila is still the heart of the Philippine economy, more and more other cities are taking a bigger piece of the action.” The challenge for BDO is to ensure it’s strong in markets
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BDO Unibank Inc., the country’ biggest bank, may raise more capital after a $1 billion share sale two years ago as it expands outside Metro Manila to prepare for increased competition from foreign banks. “We might consider a Tier 2 debt issue, depending on opportunities for expansion,” President Nestor Tan said in an interview yesterday, without providing details. BDO, owned by billionaire He n r y Sy, is a d opt i ng a defensive strateg y as Philippine President Benigno Aquino is likely to sign a bill allowing more foreign banks in the country, Tan said. The Philippines, which targets economic growth of as much as 8 percent in 2015 and won investmentgrade credit ratings last year, will attract foreign banks seeking to expand outside of Singapore and Malaysia, which Tan said have become “saturated” markets. The House of Representatives and the Senate this month ratified a bill relaxing a 1994 law that limited the number of fully-owned foreign banks in the Philippines to 10. “Foreigners will probably target small- to mid-sized local banks for acquisitions under liberalized banking laws,” said Charles William Ang, an analyst at COL Financial Group Inc. “Bigger banks such as BDO have always been seeking to bulk up in anticipation of Asean e conomic integ rat ion,” referring to the Association of Southeast Asian Nations. BDO is focusing on the consumer market and smalland medium-sized businesses
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for further gains as a pick up in global demand boosts corporate earnings. T he t r i cky p ar t for investors, however, is to precisely time their exit from bonds. Strictly speaking, bonds can continue to feed off the supply of cheap money from central banks in developed markets. Plus, there is the nagging risk of a hard landing in China and escalating crises in Iraq and Ukraine, which could push investors back into the safety
of fixed-income assets. “It’s a bubble in caution,” said Markus Rosgen, Asian equity strategist at Citi. “The bond market is too bearish on the outlook for growth, and people will say if growth is improving, then I have a claim on growth through equities which I don’t through bonds, then I ought to switch out of bonds into equities.” “So it’s generally equityfriendlier than it is bondbonds/PAGE 11
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Robinsons earmarks P7B for 300 more stores this year THE ret ail arm of the Gokongwei family has raised its capital spending this year to build more stores in step with the improving economy and growing middle class. “For 2014, Robinsons will more than double the number of stores that were opened last year. We will be spending an estimated P7 billion capital expenditures to fund our aggressive nationwide expansion,” R obi na G okong we i - Pe, Robinsons Retail Holdings Inc president and chief operating officer said during
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the company’s stockholder’s meeting yesterday. This year’s capex is more than double the P2.8 billion earmarked for last year. After the stockholders’ meeting, Gokongwei-Pe told reporters that the company will open 300 stores this year, of which 21 are supermarkets, 4 are department stores, 25 are Do-It-Yourself (DIY) stores, 100-120 are convenience stores, 80-100 are drugstores, and 50-55 are specialty stores. Gokongwei-Pe said the bulk of the new stores would robinsons/PAGE 10
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Philex plans fresh borrowing to finance part of P4B capex PHILEX Mining Corp is eyeing fresh debt to finance exploration work at the Silangan copper-gold project in Surigao del Norte. “ There will be a bit of borrowing this year. Silangan mine is a big number for Philex so we may have to borrow. But for the Padcal capex, it can be funded by our operational cash flows,” Philex chairman Manuel V. Pangilinan told reporters on the sidelines
of the company’s annual stockholders meeting today. The country’s biggest listed mining firm is setting aside P4 billion in capital expenditures for this year, with the bulk at P3.4 billion earmarked for the Silangan project. At end-March, Philex had 16 centavos worth of long-term liabilities for every peso of equity. Pang i l i n an s ai d t h e company may take on a par tner to de velop the
Silangan ore body, a decision on which would await the results of a feasibility study. He said Philex is contemplating on shifting to open-pit mining at the Silangan, adding that the geological make-up of the ore body is not conducive to the underground mining method. “We’re still studying if were going underground since there’s too much water and too muddy. We have
to de-water and it’s hard to work with,” Pangilinan said. He said using the openpit mining method would allow Philex to jumpstart production at the Silangan by 2018 at a lower cost. “It would be much lower, quite significant at least in the first phase or first 8 years of operations compared to underground mining,” he said. philex/PAGE 11
EARLY CHRISTMAS TREAT. Christmas came in June for pupils of two hard-up schools in Marilog district when AboitizPower subsidiary Therma South brought joy boxes from the US to hundreds of pupils. The boxes came from Christian Light Foundation, a partner of the Aboitiz Foundation Inc. The boxes contained toys, school supplies, hygiene kits even love letters from American kids who packed the boxes themselves. More than 150 pupils from the Lumondao Elemntary School and the Marahan West Elem. School received the boxes. (Photos Provided)
PAHIBALO Alang sa tanang membro-konsumante sa FIBECO Kamo gipahibalo nga ang atong schedule nga 32nd Annual General Membership Assembly o AGMA karung Hunyo 29, 2014 sigun sa naunang pahibalo, kini giuswag ngadto sa HULYO 12, 2014 adlaw nga Sabado pinasikad sa Board Resolution # 064 serye 2014 ug naaprobahan sa National Electrification Administration o NEA tungod sa rason nga ang pipila ka Clustered venue dili available sa unang schedule kay kumplekto sa kalihukan sa ubang lungsod. Ang mga CLUSTERED VENUES nga duol ug kumbenyente alang kaninyo mao kining mosunod:
Municipality
Venue
Valencia City ug San Fernando
-
Valencia City Central Elem School
Maramag ug Pangantucan
-
FIBECO Covered Court, Maramag
Kalilangan ug Wao
-
Kalilangan Covered Court
Quezon
-
Quezon Municipal Gymnasium
Don Carlos ug Kitaotao
-
Don Carlos Municipal Gymnasium
-
Kibawe Municipal Gymnasium
Dangcagan, Kibawe Damulog ug Kadingilan
Ang pagpangrehistro pagasugdan sa 10:00 sa buntag hangtud ala 1:00 sa hapon. Ang programa magasugod sa ala 1:00 sa hapon hangtud mahuman ang maong kalihukan. Adunay RAFFLE DRAW sa matag clustered venue human sa business proper. Busa ayaw kalimot!! Karong Hulyo 12, 2014, giawhag ang tanang membro-konsumante sa pagtambong niini nga panagtigum. Palihug pagdala sa inyong FIBECO ID o ubang valid identification card.
Nagpahibalo,
(SGD) DIR. FELIX G. VERGARA JR. Board Secretary
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The Never-Ending Problem On Rice Cartels and Smuggling
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Power Shortage
T
hink a minute …Have you ever thought to yourself: “I know what I should have done, but I didn’t do it!” How many times have you felt that way? It’s a struggle we all fight— every day! The constant battle between what we know we should do and what we actually do. Between our conscience and how we really live. Why can’t we simply do what we know we should? It’s even what we really want to do in our heart. Our problem? We have a power shortage in our lives—a shortage of will power. We’re like this couple whom I know. The husband and wife both are marriage counselors, but they’ve now divorced each other! They’ve counseled hundreds of other married couples, yet they themselves cannot work out their own marriage problems. They know all there is to know about a good marriage relationship, but they can’t do it themselves and follow their own advice. We all know that honesty is the right, best policy. Yet, corruption and dishonesty is everywhere! People know that loving and giving to others is the happiest, best way to live. Yet we still are proud, competitive, jealous, and even hurt the people we want to love. Wives and husbands know that cheating on each other, or their addiction to alcohol is destroying their family. Yet
THINK
A Minute
By Jhan Tiafau Hurst
they keep doing it! So is this just the way we humans are? Will we ever have the will power to do what we know we should? You see, this is why Jesus Christ came: to connect us to the power of God, so we can finally have all the will power we need to live up to our potential and live the way we know we should. Jesus came to forgive us so that we could have a right relationship with our Maker. Knowledge isn’t your problem; you know what you should do. It’s power that you need! And Jesus has all the power you’ll ever need for whatever you face. His empty grave shouts it loud and clear! He’s got all the power, even over death! And His power is yours—if you’ll ask Him to forgive you and take complete control of every area of your life. Just Think a Minute…
Rice cartels control supply and prices of rice in the Philippines. These unscrupulous capitalists create artificial shortages to drive prices up and make more money. Spending more in buying rice, rice consumers are likely to spend more on other things. From a national point of view, 1% less spending for other items result in billions of pesos of losses to other industries.. With rice supply shortages created by cartels the government is forced to import rice and once again our money goes out of the country. Present situation shows that instead of us getting money, other countries benefit. Ironically, these are the countries whom the Philippines have helped technically with our Rice Institute program. We will never attain rice self-sufficiency, unless the present administration
A
editorial immediately addresses the perennial problem of rice cartels and smuggling. A legislative inquiry must be launched to unmasked the operation of rice cartels and rice smugglers and to come up with remedial legislation address the problem. Wit h s mu g g l e d r ic e flooding the market, the prices of rice continue to plunge and local rice production suffers. A collapse of this part of our economy is imminent. The government must prosecute those involved in rice cartels and rice smuggling. Their criminal acts tantamount to economic sabotage that will ultimately destroy the country’s rice sufficiency program. These days, a 50-kilogram cavan of local milled rice sells
at P1,400 because millers buy palay from farmers at P17.50 per kilogram, whereas the price of smuggled rice is only P950 per sack, later sold at P1,200 by the smuggler or unscrupulous trader. Our rice production and farmers’ income suffer. If this problem is not addressed, the price un-milled rice will go down to P14 per kilo which is way below the price of local farmers . The local rice industry will die if the government will not support a higher market price for the produce to help the farmers. It is noted that rice from Vietnam and other countries are cheaper because of their government are supporting their farmers. There is a need for NFA
to buy 30-percent ( worth P105.3 billion) of the total harvest of local farmers. A 3 percent purchased by NFA from the total harvest would not help Filipino farmers. If the government hopes to make the country a net exporter of rice, buying unsold local palay stocks in warehouses and selling them abroad is the right path for us. No less than Agriculture Secretary Proceso Alcala admitted the presence of rice cartels and reports of continued rice smuggling in the countryside. The ‘’Binondo cartel’’ which has been manipulating rice prices and supply in the country must be stopped. There is also a need to probe reports that cartels control some multi-purpose coops in the country being used for rice smuggling operations. Unmasked and prosecute them!
Top-Down Management vs. Team-Centered Management
popular stereotype in American pop culture is the idiot boss. Think Michael in “The Office” or the Pointy Haired Boss in “Dilbert”. The problem (and the source of the amusement) with this guy is that he is so full of himself and so tied to his company’s personnel organizational char t t hat he b e comes basically dysfunctional. This stereotype draws on many, many peoples’ negative experiences with Top-Down management. Top-down management isn’t always a bad thing, though. In fact, the opposite of TopDown management which is teamcentered management, has its downsides too. Both methods have pros and cons
to them and both methods can be used to your business’ advantage. Top-down Management Pros: • This is a management style that most people are familiar with and that makes them comfortable with it. • It is easy to explain (organizational charts). • Authority is more centralized, so, decision making can occur fairly quickly. Top-down Management Cons: • Sometimes people higher on the organizational charts don’t listen to those under them. • New ideas and changes can be stifled due to the chain
of command. • Fewer people weigh in on decisions, so, some perspectives aren’t heard or understood. Team-Centered Management Pros: • People learn to work together in an organic, symbiotic fashion. • New ideas are easily generated. • Employees feel heard and are generally more motivated to make their ideas work. Top-Centered Management Cons: • People aren’t sure how they fit in the organization. • Mo r e e x t r o v e r t e d personality types can take over and unintentionally bully others’ opinions or
BOB BARE
methodologies. • Decision making can take a long time because of the number of people involved. Clearly, there are elements of each style that your business will benefit from. The question is: which type bare/PAGE 11
Prospects for Paradise
S
AMAL ISLAND have evolved from a former pearl farm and coconut producing island in Davao del Norte into a resort community with midsize to high end development of bi g t i cke t proj e c t s . Prominent among these are the entry of Landco and the resort expansion of Anflo Development Corporation with their Fuego Hotels and Resorts managed Pearl Farm Resorts and Spa. Va r i o u s l o c a l a n d international corporations have contributed an increasing proportion to the island’s GDP mostly in the tourism services and ancillary activities. Samal Island is the forwarding d e s t i n at i on of fore i g n tourist and local convention participants to the booming
tourism business in Davao City. New development has now expanded to the nearby Talikud Island with exclusive residential enclaves serving as vacation paradise to Manila residents who acquired beach front properties. Prominent Davao City businessmen have also cashed on the new lifestyle of resort living. While productivity is generally harder to measure in the tourism services of Samal than the agricultural sector of the entire island, the need for its on-going improvement in the service sector is no less pressing, if the sector is to continue to contribute to employment creation and the earning of much needed foreign exchange. Since March 2014, the role of the Department of Tourism in partnership
with the Asian Development Bank and a Canadian grant has increased substantially in providing training assistance to the tourism sector. Davao del Norte and the Cities of Panabo, Tagum and Samal have benefited in the Service Excellence Programs coordinated by DOT Region 11. On top of this development, hotels and resorts in the region have re-invented themselves to appeal to the different generation of travellers. New means of engaging guests in social media and in demand amenities have been launched. The Regional Development Council of Region 11 headed by Davao del Norte Governor Rodolfo del Rosario is also leading in the development efforts that are needed to create a suitably enabling
TRAVERSING the
Tourism H i - way
By Ped Quiamjot
environment for business and the improvement of more government tourism infrastructures in the destination. Submitted to the National Development Authority for funding is the construction of a connecting bridge from Panabo City to the Island Garden City of Samal.
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GOVERNOR EMANO GRACES A ROYAL HIGAONON WEDDING AT GINGOOG CITY LAMBO MISAMIS ORIENTAL. Misamis Oriental Governor Yevgeny Vincente B. Emano graces the Higaonon Royal wedding at Mt. Sioan, Gingoog City on Saturday. Governor Emano values indigenous peoples group as they present how vast is Filipino culture and heritage. Further, the Governor slates beneficial programs for the IPs in the province.
DepEd Reunion – VICE GOVERNOR JOEY G. PELAEZ exchanges pleasantries with Department of Education (DepEd) Secretary Br. Armin A. Luistro, FSC during the DepEd National ManCom held recently at the Hotel Koresco, Cagayan de Oro City. During the event, Vice Governor Pelaez followed through the Resolution passed by the Sangguniang Panlalawigan of Misamis Oriental on the recommendation of CHED for DepEd not to allow the use of its facilities to Bukidnon State University-External Studies Centers. Secretary Luistro assured Vice Governor Pelaez that DepEd will continue to lend its facilities to the ESCs in the Province. Vice Governor Pelaez is a former Executive Director of the Center for Students and Co-Curricular Affairs at the DepEd National Office.
BDO... from page 4
Visayas is a group of islands in the central Philippines and Mindanao is the nation’s second-biggest island. Both are south of Manila, which is in Luzon. CIMB Group Holdings Bhd., Malaysia’s secondlargest lender by assets, is looking at the “mid-tier” Philippine banking sector for expansion, CEO Nazir Razak said in Manila on May 21. The smaller banks are helped by a lower ratio than what lenders like BDO have to set aside in reserves, Tan said. Smaller Philippine banks are required to hold 5 percent to 8 percent of their deposits in reserves, compared with 20 percent for the bigger ones such as BDO. Of the more than 650 banks in the Philippines at the end of last year, 569 were classified as rural and cooperative banks. The nation needs to
decide whether it wants a handful of banks big enough to compete in the regional arena or continue to have hundreds of banks, Tan said, “The policies that you will apply will differ based on what your vision is,” he said. “If you will leave it to the market to decide the direction, then there should be a level playing field, without any preferential treatment.” BDO is seeking more acquisitions to expand. It may be bid for a stake in United Coconut Planters Bank that the government plans to sell, Tan said. BDO raised $1 billion in June 2012 to boost capital ahead of the central bank’s stricter Basel III requirements. Second-quarter profit is “on track” to help meet the full-year net income target of P22.8 billion ($520 million), Tan said. BDO’s profit fell by almost half in the first quarter to P5.5 billion after trading gains slumped.
Sy bought Acme Savings Bank in 1976 and renamed it as Banco do Oro Savings and Mortgage Bank the following year. Nine acquisitions amounting to $1.34 billion since 2001 made BDO the nation’s biggest lender in 2008, according to data compiled by Bloomberg.-Bloomberg
Draft... from page 2
by NCCA as the official name of the yearlong heritage program conceptualized, implemented and overseen by the Subcommission for Cultural Heritage (SCH) to emphasize the importance of bequeathing culture and tradition to succeeding generations.
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RECURSOS By ZOLA GONZALEZ-MACARAMBON
reminder. The effect is a disturbing spectacle; one questions the verity of his own sanity. Another laudable element is Shakespeare’s “Mousetrap" as "Blanket Authority", the play within a play staged as a dance number within a dance number, which the play really is in all the characters' scheming and pretending, plotting and manipulating. CU dance troupe's George Caronia's choreography blends the deadly and graceful elements of the capoeira with modern club dancing to tell the story of Enrique's betrayal. It was definitely a high point in the narrative, one the audiences are sure to bring home in memory.
T
he Xavier Stage rounds up a full season of Shakespearean dramas with Recursos, a Layeta Bucoy adaptation of Hamlet. This is a way of ending things with a bang, literally. For over an hour and a half, gunbrandishing main character Eric delays action and simmers in his suspicions and doubts over the death of his father. The suspicious death of Recursos' patriarch throws Eric into daytime delusions in the shape of his father's apparition. This ghost, perhaps the most incessant and demanding of characters from the other side, demands revenge thereby jump-starting the play's main action. Eric comes home to his mother, now married to his uncle Enrique, his long ignored girlfriend Nina, and the family
Perfectly cast as the Shakespearean Ophelia is newcomer Nicole J. Maboloc. Her portrayal of the chaste, lovelorn, and desperate-bordering-on-pathos Nina has a softness which blows to a crescendo in her breakdown and imminent unraveling. A slight nudge over the edge in insanity acting and she's easily Isabelle Adjani in that memorable tunnel scene from the cult classic, Possession (1981). Maboloc's performance absolutely helped the ringing tightness of the highwire the characters all walk on to indefinite heights, there was nothing more fitting, but that final blow that took down the last man standing.
business. Eric further delays and hides his indecisions in erratic behavior which leads to Nina's impending breakdown, suicide, and, in tragic fashion, everybody's demise. One of the many clever points in Director Hobart Savior's re-envisioning is in the play's physical design. Specters in white masks remind one of the concave face mask test for schizophrenia. In this test, a face is painted on the concave side of the mask, which a schizophrenic brain identifies correctly. A normal brain, however, sees the face as on the convex side. The strategically placed scrims, stretched on arches and placed in angles so that both white sides of the convex and concaves show, also evoke the same
THE SM STORE SHOES AND BAGS SALE Get set to grab the hottest styles in the The SM Store Shoes and Bags Sale at the Ground Floor Car Park Bldg. SM CITY CAGAYAN DE ORO! Enjoy up to 50% OFF on your favorite brands of shoes, bags, and luggage. Now's your chance to enjoy big discounts and savings. Don't miss this limited offer only at The SM Store Shoes and Bags Sale from June 26 to July 6 only!
Catch your favorite MyPhone Endorsers Devon Seron and Coco Martin LIVE at the MyPhone Rio Invasion Celebrity Concert Tour and MyPhone Concept Store Opening this coming June 29 at 4th Floor Cyberzone, Annex, SM City North Edsa. The show starts 2PM onwards with performances by Timmy Pavino, Blaze N Kane, REDManilaPH Talents, Kyle Vergara, Kym Vergara, Macky Alca and MyPhone's newest ambassadors, Upgrade! You may also get a chance to avail VIP seat reservation, Win a Brand New MyPhone Rio Fun and get a chance to Meet & Greet Kapamilya stars Devon and Coco. Come and Join us on Sunday, Let's have Fun and Win amazing prizes from the no.1 mobile brand in the country, MyPhone! See you there ka-MyPhone! MECHANICS: 1. First 100 customers to avail* the MyPhone Rio Fun from June 21-27 will have a VIP seat reservation at the MyPhone Rio Invasion on June 29. A coupon will be given upon purchase of the unit. Five (5) of the 100 customers will get a chance to win another MyPhone Rio Fun and a chance to meet and greet Devon Seron and Coco Martin. 2. Regular seat zone passes will be given to the 100 MyPhone Rio users to arrive on the event day. 3. Two (2) fans of Devon Seron and two (2) fans of Coco Martin will win VIP seats , A brand new Rio Fun and meet and greet with the stars through WeChat. Follow www.facebook.com/MyPhoneEvents for details. *Puchase only at MyPhone Concept Store and Kiosk in SM North Edsa.
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The Night Stalker
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Another first for Cagayan de Oro:
Seda Centrio’s Fine Dining Experience The City of Golden Friendship has a good number of fine hotels but trust its leading Urban Lifestyle Hotel to break ground in yet another avenue. Come Saturday, 28 June 2014, Seda Centrio unveils its “Fine Dining Experience” at the iconic Misto Club Dining starting at 7 o’clock in the evening. “The Seda Centrio Fine Dining Experience will allow guests to get up close and personal with a chef ’s table,” said Dean Manalo, Seda Centrio’s young and amiable Executive Chef. “A chef ’s table is usually located in the kitchen of a restaurant, reserved for VIPs and special guests. Patrons are served a themed tasting menu prepared and served by the head chef. It strikes the perfect balance between a hidden enclave for private parties, and the chance for guests to participate in one of the most highly regarded kitchens in the city.” B u t S e d a C e nt r i o’s Chef ’s Table promises an e x t r a o rd i n a r y s e n s or y e x p e r i e n c e for d i n i n g habitués, and offers the rare opportunity to enjoy a c u l i n ar y j ou r n e y of unforgettable sights tastes and smells personally hosted by the executive chef. “Our Chef ’s Table is dedicated to providing the best food that not only looks
good but tastes great,” said Chef Dean. “The Seda Fine Dining Experience brings diners to the heretofore sacrosanct inner sanctum of the Chef ’s Table where they can enjoy a special multicourse tasting dinner with an option for wine pairing in the dining room for only PhP 999 nett per person.” Saturday evening begins with Chef Dean d’ personally welcoming the guests to their special table at Misto’s Fine Dining Section where he previews the details of the menu for the evening. The multi-course menu is specially created by Chef Dean, who will be on hand to introduce each menu with multisensory theatre such as demonstrating the effect smell has on taste, discuss the philosophy and preparation of the meal. For the inaugural Fine Dining Menu, diners can choose from either Roasted Pumpkin Cinnamon Soup, Sweet Pea Soup or Nutritious Cream Soup spiced with Cinnamon and Nutmeg. This would be followed by either Red Beet and Apple Salad, or Tossed in Balsamic Vinaigrette and topped with feta cheese and walnuts. “As each course comes up, I will explain in detail its special features, how it is prepared and tasting suggestions,” Chef Dean said.
The Main Entrée includes Prawn Thermidor, Baked Shrimps in Mornay Sauce, accompanied by grilled vegetables and rice timbale, or Rolled U.S. Beef Tenderloin in Burgundy Sauce, accompanied by Mashed Potato and Vegetables. “We will also offer diners optional wine pairing of specially selected wines they can choose from to go with their meal,” he adds. Not the least, dinners will have a choice of their Ending Pleasure from either Peach Mango Jubilee or Freshly Baked Pudding a la monde. “For the dessert course, I will join the group at their private table for a discussion of the evening’s meal, answer questions, and share culinary secrets behind each course’s extraordinary taste,” Chef Dean said. “Guests would also enjoy a complimentary photo taken at the private table with the chef.” The Seda Centrio Fine Dining Experience can be reserved for a minimum of 10 and maximum of 25 dinners. For reservations, please call (088) 323-8888 today or book directly with the front desk. While the Seda Centrio Fine Dining Experience is scheduled to be held only once a month, private parties can book a Chef ’s Table at any date depending on Chef Dean’s availability.
Chef Dean Manalo prepares a Chef's Table for the Tia Family.
Executive Chef Dean Manalo and friend. Chef’s Table Menu
Primavera Residences offers sound investments in CdO with buy-to-rent units As Cagayan de Oro becomes o n e o f t h e c o u n t r y ’s most progressive cities, c on s u m e r d e m a n d f or accommodation opens up a lot of opportunities for additional income. Serviced condo or condotel units are now turning out to be good buy-to-rent property investments. In another pioneering move, Primavera Residences, Cagayan de Oro’s internationally-awarded ecofriendly condo property, announces the launch of its serviced condos for short to
extended stays. “A s e r v i c e d c o n d o combines the flexibility of ownership with hotel-like services such as cleaning, maintenance and security. Un i t ow n e r s h av e t h e option to rent it out to short-term or long-staying guests,” explained Primavera Residences general manager Cheryll Barriga. Serviced condos are a solution to typical short term or relocation housing needs, she continued. Typically larger than hotel rooms,
condos are less expensive and homier options for those on business trips or longterm project assignments. Families will find one- or two-bedroom units with fully-fitted kitchen ideal. “Owning a condo unit is a very sound investment especially at Primavera Residences, as we have a management team taking care of security and maintenance of the units. For short-term lease, maintenance of the unit is covered by Primavera Residences for a maximum stay of three days,” she added. “Currently, we have 20 unit owners who have opted to join our asset management program. All the units are fully-furnished with kitchen, cable TV, refrigerator, and aircon. Amenities include a green inner courtyard, 24-7 security, CCTV, pool, gym, function hall, laundry station, and twin elevators. There are restaurants on the ground floor. Located in flood-free uptown CdO beside SM Mall, Primavera Residences is the safest part of the city and very near all the important places like
schools. In fact, just across Primavera Residences is the biggest BPO company in Northern Mindanao, which is Concentrix.” According to Barriga, unit buyers at Primavera Residences are guaranteed top quality products and service at affordable prices. To market rental, the team is forging a partnership with top e-booking sites such as Agoda, MyProperty.ph and Lamudi. Sales and rental at the property is handled by its developer, Italpinas Euroasian Design and EcoDevelopment Corp. (ITPI). With a 30% full down payment under the in-house financing, condo buyers can already move into their purchased property. Once the unit owners have fully paid their purchased property, they can rent it out to shortor long-st aying guests. Renting out their paid unit can earn them up to P40,000 per month in revenues. Mont h ly re nt a l s r ange from P20,000 to P25,000 for studio units; P30,000 to P35,000 for a one-bedroom serviced condo and P35,000
to P40,000 for two-bedroom units. Rental rates depend on the unit’s furnishings. A fully furnished unit with additional amenities like WiFi connection gets the maximum rental. As the building is designed to be energ yefficient, unit residents save 20% in energy consumption and 32% savings in aircon use. The installation of solar panels will further reduce electricity costs for the building as the energy from the solar panels will power the common areas. Developed by Italpinas Euroasian Design and Eco-
Development Corporation, Primavera Residences is the first eco-friendly condo p r o p e r t y i n No r t h e r n Mindanao. It has two 10-story towers with commercial and residential units that are ready for occupancy. It was recognized the Best Mixed-Use Development in the Philippines by the Inte r nat i ona l Prop e r t y Awards at the recent Asia Pacific Property Summit in Kuala Lumpur. For inquiries on how to re nt or i nve st , c a l l 0 9 1 7 7 9 2 1 0 8 0 or ( 0 8 8 ) 310-8173; or visit www. primaveraresidences.com.
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Rafting... from page 1
Dorothy Pabayo, who heads Task Force Rapids said an estimated P600,000 in potential business earnings was lost with the withdrawal of 200 tourists last week. “This does not include the loss of business potential in the local hotel industry and transportation business,” Pabayo said. Pabayo made it clear that Mayor Oscar Moreno did not order the suspension of the whitewater adventure tours even as they conducted refresher courses to ensure the safety of tourists. Dale Vallejos , safety staff of the Philippine Red Cross said the first batch of 27 guides underwent a refresher course that included basic life support, cardiopulmonary resuscitation for adults, and emergency first aid. Vallejos said the next two batches will undergo training next month. Me anw h i l e, G e rome Garcia, a pioneer in the whitewater adventure tours denied he was blacklisted for allegedly resorting to “flipping” his rubber rafts to provide thrills to his clients. Garcia said the practice of “flipping” is also common among the six tour operators that comprise OAR. He said there were other “serious accidents” that were “unreported” by the tour operators. “There is no official record that I am blacklisted. If I am blacklisted, why only me when other operators are flagrantly doing it,” Garcia said. “Flipping,” the act of intentionally turning an inflatable raft upside down by river guides, is prohibited by City Ordinance no. 120292011 enacted on June 7, 2011. Pabayo said she would ask Garcia, whose
outfitter firm is licensed in Baungon, Bukidnon, to join and participate in the implementation of safety measures in the conduct of whitewater adventure tours. “Everyone who conducts white water tours, does business along Cagayan de Oro River should participate. Let us save this industry,” she said. Chisum Factura of the Kagay Journey-White Water and Kayaking said they have voluntarily suspended their operations so their 15 guides can attend refresher courses conducted by themselves and the PRC. He said their guides have completed three of the six safety courses they have outlined to strengthen their safety protocols. Factura said “Philip”, the river guide who steered the boat that met an accident resulting in the death of 26-year old Aizza Calipusan Balbin, has been distraught and traumatized by the incident. “Philip” did not attend the two-day refresher course conducted by the PRC and attended by 27 river guides at the City Tourism Office on Tuesday and Wednesday. Factura said they have seen it fit for “Philip” not to attend the refresher course and instead undergo a trauma debriefing along with the other guides who participated in the recovery of Balbin, who was missing for two days after their raft capsized last June 13. Ma r k Je o f f e o f t h e International R afting Federation said the raft of B a lbin and “Phi lip” slammed into the side of a huge limestone outcropping catapulting the boat and throwing all aboard into the water. T h r e e o f B a l b i n’s companions and “Philip” sur vived the rampaging
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waters of the Cagayan de Oro River. “We noticed he was very withdrawn after the incident so we felt he should go a trauma debriefing along with the rest of our guides,” Factura said. It was learned that Philip has yet to give a full account of what transpired during the rafting accident. Pabayo said the city government is studying proposals increasing the accreditation requirements of river guides who are paid P400 to P600 per trip. “The key to safety is how the guides will react to any emergency,” she said.
Review... from page 1
recommended the prohibition of the “raft flipping,” an intentional tossing with a sharp movement by the whitewater guide and/or passenger in order to turn the water raft upside down during the whitewater rafting runs. The death by drowning of a domestic tourist last June “Friday the 13th” took place when the whitewater raft turned upside down during the rafting runs, Bacal said. He said that the city council committee on tourism has invited members and operators of the Oro Association of Rafters to help in the review and introduction of amendments to the Whitewater Rafting Ordinance. Rex Tapungot, operations manager of the Cagayan de Oro River Tours Corp/the Red Rafts informed the committee that all outfitters and river guides were required to undergo training from the Philippine National Red Cross. “Considering that the White Water River Rafting is a One Town One Product (OTOP), the Department
of Trade provides funding for all trainings conducted by PNRC such as first aid sportsmen, CPR/Basic Life Support, Basic Swimming and Water Safety and Rescue,” Tapongot said. However, City Councilor Ramon Tabor, of the police, fire, and public safety, has recommended the suspension of the whitewater rafting runs at the Cagayan De Oro River pending review of the rafting ordinance. Tabor also batted for the implementation of rules that should be observed strictly by the rafters and stakeholders in order to avoid the occurrence of fatal accidents during rafting runs. Aiza Balden, 26, of Loboc, Bohol, who worked as “online nurse” in Cebu City died of drowning when she failed to resurface after the raft she was on board turned upside down after hitting the stonewalled river bank of the Cagayan De Oro City last June 13, “Friday the 13th.” Local rescuers retrieved the body of Balden, three days after a search along Cagayan De Oro River known as a “world class whitewater river rafting” water tributary in Northern Mindanao. (PNA)
Grow... from page 1
learn to take care of vegetables and appreciate them and their nutritional values. Besides, UCG is helping landless urban families contribute to food (nutrition) security and help them diversify their income aside from helping fight hunger. The 2013 Global Hunger Index (The Challenge of Hunger: Building Resilience To Achieve Food and Nutrition Security), published jointly by the International Food Policy Research Institute (IFPRI), Concern Worldwide, and Welthungerhilfe, ranked the
Republic of the Philippines SUPREME COURT REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10TH Judicial Region Branch 21 Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF PAG-IBIG FUND EJF FILE NO. 2014-164 Mortgagee -versusALICIA C. MANUEL Mortgagor X---------------------------------/ NOTICE OF EXTRA-JUDICIAL FORECLOSURE SALE Upon Extrajudicial petition for sale under Act No. 3135 as amended filed by Act No. 4118, filed by HOME DEVELOPMENT MUTUAL FUND or PAG-IBIG FUND – Cagayan de Oro Branch Office, a government financial institution with principal office address located at Petron Mega Plaza, 358 Sen. Gil Puyat Avenue, Makati City against ALICIA C. MANUEL, of legal age, married to OSCAR M. MANUEL, Filipino Citizens with postal address at Lot 18-T PELICAN STREET, SOUTHVIEW HOMES SUBDIVISION, MACASANDIG, CAGAYAN DE ORO CITY , to satisfy the mortgage indebtedness which as of May 16, 2014, amounted to NINE HUNDRED TWENTY FOUR THOUSAND EIGHT HUNDRED THIRTY THREE PESOS AND 28/100 ( P 924,833.28) Philippine currency, inclusive of interest & penalty charges, attorney’s fees and expenses of foreclosure, the undersigned or duly authorized deputy will sell at public auction on July 30, 2014 at 10:00 a.m. or soon thereafter at the main entrance of the RTC-BR. 21, Hall of Justice lobby, Hayes St., Cagayan de Oro City to the highest bidder, for CASH in Philippine Currency, the following property described below with all the improvements included thereon, to wit: TRANSFER CERTIFICATE OF TITLE No. T-186726 A PARCEL OF LAND ( Lot 18-T, of the subdivision plan ( LRC) Psd-45555, being a portion of Lots 18,( LRC) Psd-41896, L.R.C. Cad. Rec. No. 1561), situated in the Barrio of Macasandig, City of Cagayan de Oro, Island of Mindanao. Bounded on the NE., points 1 to 2, by Lot 18- U of the subdivision plan; on the SE., points 2 to 3 by Road Lot 20, (LRC) Psd-41896; on the SW., points 3 to 4 by Lot 18-S; and on the NW., points 4 to 1 by Lot 18-C, both of the subdivision plan. Beginning at a point marked “1” on Plan being N. 40 deg.21’ W ., 303.71 m. from B.B.M. No.2, Cagayan de Oro Cadastre, thence S. 83 deg. 02’ E., 15.00 m. to point 2; thence S. 6 deg. 58’ W., 12.00 m. to point 3; thence N. 83 deg. 02’ W., 15.00 m. to point 4; thence N. 6 deg. 58’ E., 12.00 m. to the point of
HON. EDNA “Inday” DAHINO City Councilor
1st District of CAGAYAN DE ORO CITY
begenning; containing an area of ONE HUNDRED AND EIGHTY (180) SQUARE METERS, more or less. All points referred to are indicated on the plan and are marked on the ground by P.S. cyl. conc. mons. 15x60 cms. Bearings true; Declination 1 deg. 44’ E., date of the original survey, November 1926- -July 1932 and that of the subdivision survey, April 5-10, 1965. ***************************************** All sealed bids must be submitted to the undersigned on the above stated time and date. In the event Auction Sale cannot take place for whatever legal reason, the same will proceed on the following 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, Philippines, June 23, 2014. BWM: June 27 ,July 4 &11, 2014
(Sgd.) EFREN G. MACABAYA Sheriff IV
Philippines in 28th Place with a 13.2 percent hunger index in 2013, which is 0.8% lower than the 14.0% hunger index in 2005 and 6.7% lower than 1990’s 19.9% hunger index. But despite this significant reduction in hunger in the countr y, “hunger in the Philippines is still serious,” the 2013 GHI said. On the other hand, the Statistics Division of the FAO (FAOSTAT) said that there were 15.6 million undernourished Filipinos in 2013, or an undernourishment prevalence of 16.2%. Worldwide, about 870 million or 1 in 8 people still suffer from hunger. Food resiliency “Despite the progress made, the level of hunger in the world remains ‘serious’ with 870 million people going hungry, according to estimates by the Food and Agriculture Organization of the United Nations,” the 2013 GHI said, adding that in order to fight hunger, people should have food resiliency, which involves boosting food and nutrition security. The Unite d Nat ions Conference on Trade and Development (UNCTAD) ident if ie d t he top t wo causes of global hunger and malnutrition as the people’s lack of self-sufficiency in food and the inability to grow their own food. And that is what UCG is all about, said the technology’s developer Perfecto “Jojo” Rom. Rom said that empowering families to become food resilient is the aim of UCG as it enables poor families who are always expose to manmade and/or natural shocks cope with these shocks while allowing them to also improve their lot through a diversified sources of income. Thus, UCG contributes to food security, nutrition and livelihood in a combination of ways, such as providing for family self-consumption, allowing for saving on food expenditures, providing a source of income, improving the supply of local markets with fresh and nutritious organic food at competitive prices, among others. “Ur b an c ont ai ne r gardening is the only doable strategy of democratizing agriculture — where people will now have a form of control in the area of food security. Through container gardening, social enterprises f lourish and more jobs are generated and lessen migration to other countries. This will also result in lower incidences of food-borne diseases or illnesses. It is also a system of turning waste into a resource, thus building the resiliency of people,” he explained. UCG practitioners said that investing in UCG will ultimately reduce poverty and hunger in the Philippines aside from contributing to increasing the food security of the nation and thus help promote economic diversification and growth. “Increased agricultural activity generates higher
incomes and creates incomegenerating opportunities for other wise destitute population groups, offering a recognized way to escape the poverty trap,” the FAO said. And the mothers in Sitio Puntabon, Barangay Bonbon — whose houses and UCGs are built on stilts on top of water — growing the ubiquitous, delicious, and nutritious organic vegetables not only contribute to the maintenance of a healthy life but also to the city, regional and national economic health. “Wala gani mi yuta pero nakaya namo, unsa pa kaha sila nga naay mga luna (We have no land yet we were able to do it, how much more they who have parcels of land),” said the younger Monsion.
Robinsons... from page 5
be located in Visayas and Mindanao, both of which account for 10 percent of Robinsons Retail’s stores. She said the company is increasing its presence in Visayas and Mindanao b e c au s e of t h e i r hu ge potential. Gokongwei-Pe said 2014 will be an “exciting year” for Robinsons Retail because penetration rate remains low in the Philippine market with significant potential for growth and further upside that will benefit the company’s expansion plans. “We are banking on the attractive macroeconomic environment, which includes rising middle income, shift from traditional to modern retail and increasing disposable income,” she said. “As a continuing exercise, we will be on the lookout for possible acquisitions and expansion into other retail segments and pursue franchise deals with new global brands,” Gokongwei-Pe added. Robinsons Retail’s South Star Drug Inc recently acquired Chavez Pharmacy, making it the listed firm’s third acquisition this year. Robinsons Retail closed the first quarter with a network of 1,145 stores after adding 222 outlets from April last year to March this year. This translates to an 18.8 percent year-on-year growth in gross floor area to approximately 800,000 square meters. Including the equitized e ar ni ng s of R obi ns ons Bank, the retail company’s net income grew at a slower pace of 2.4 percent to P643 million. The lender posted trading losses during the period compared to the hefty trading gains in the prior year. Consolidated net sales went up by 16.1 percent to P17.43 billion from P15.01 billion in the prior year driven by new store openings, a 2.4 percent increase in same-store sales and the acquisition of the 6-store EZ Supermarket chain, the 3-store Jaynith’s supermarket chain, the 8 Shiseido stores, and 2 Benefit cosmetics stores.
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Project... from page 2
Plain into an economically, environmentally and culturally developed community. Amidst limitation, the government is steadfast to provide assistance to the people, said Burdeos. Kalabugao plain is a strategic plan. For one, Pulangi River is 320 kilometers, the longest river in Bukidnon, one of the places that can benefit from the development of the Kalabugao Plain. The river that contributes to watershed since it provides approximately 25% of Mindanao’s power needs and the main water source of Bukidnon both for drinking and irrigation. Secondly, the IPs are vulnerable target of insurgency. The IPs should be attended to and taken cared of so they will feel that the government cares for them and they will possibly not turn their back from the government to join insurgent groups, said Burdeos. According to Impasugong town mayor Mario Okinlay, the local government committed to shell out P5 million as counterpart to the project. For his part, Datu Mantangkilan Cumatang, head claimant, Agtulawan Mintapod Higaonon Cumadon ancestral domain, expressed gratitude to
the government for the genuine services as this brings economic significance to the community. TWG revisited Kalabugao Plain to reaffirrm the commitments to the Peace and Development Convergence Program to spur further action from various stakeholders. (PIA)
Bonds... from page 4
friendlier,” said Rosgen. Investment bank analysts warn bond levels are frothy and there are traces of a shift of retail money from bond funds to equity. But the actual decision to sell bonds is complicated by powerful but divergent catalysts. The Federal Reserve is reducing its bond purchases, but appears in no rush to raise interest rates. European authorities are easing policy. Britain has hinted at early rate rises. A handful of Asian central banks, including in New Zealand and the Philippines, are raising rates. The growth picture is changing, with Japan, the United States and even parts of Europe showing improvements in demand, although analysts now expect 2014 to be less robust than they did before. That means the long end of the U.S. Treasuries yield curve may stay lower for longer and so preclude a rise in global yields. That would leave
fund managers at risk of underperforming global bond indexes if they sold bonds prematurely.
Philex...
beyond 2020,” Pangilinan said, adding that any extension of work at the Padcal would depend on operating costs and the price of gold.
Bare...
from page 5
Philex is counting on the Silangan to pick up the slack in profit expected with the end-ofmine life of the Padcal coppergold project come 2020. The company earlier secured government clearance to resume full operations at the Padcal mine in Benguet. The approval came after Philex paid the penalties and completed rehabilitation work. The company in August 2012 suspended operations at the Padcal after heavy rains caused a breach in its tailings pond, sending mine waste to nearby Balog Creek and Agno River. With Philex cleared to resume full operations at Padcal, the company is undertaking survey to determine additional resources. “We are optimistic that the mine life can be extended
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of manager are you? If you are a Top-Down manager, can you adapt yourself and your business to become more open to opinions and feedback from employees from all areas of the organizational chart? If you are a teamcentered manager, are there ways you can make authority clear while still listening to your team? The real problem with the Dilbert-style managers is not that they are Top-Down managers. It’s that, they are incompetent and inadaptable. Don’t be that manager. Be nimble with your management decisions and styles. Keep the needs of your employees and your business in mind so you can lead them with vision and strength. What kind of manager are you? How has it helped your company? What would you change about your style, if you could?
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Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10TH Judicial Region Branch 39 Cagayan de Oro City IN THE MATTER OF PETITION FOR THE CORRECTION OF ENTRY IN THE CERTIFICATE OF LIVE BIRTH OF VENLIE JEWEL TARIPE PINZON AND JILLIAN VEN TARIPE PINZON, JULIE TARIPE PINZON, -Vs-
THE LOCAL CIVIL REGISTRAR OF CAGAYAN DE ORO CITY, Respondent. X----------------------------------------------------/ NOTICE OF HEARING Petitioner, through counsel , filed a verified Petition for Correction of Entry in the Certificate of Live Birth of Venlie Jewel Taripe Pinzon and Jillian Ven Taripe Pinzon. Finding said Petition sufficient in form and substance, the same is hereby given due course. The Petitioner is hereby directed to cause this Order to be published once a week for three (3) consecutive weeks in a duly accredited newspaper of general circulation in the City of Cagayan de Oro , Province of Misamis Oriental, at her own expense. Let copies of this Order be posted in the Bulletin Board of the City Hall, Cagayan de Oro City, Bulletin Board of the Local Civil Registrar of Cagayan de Oro City, and the Bulletin Board of this Court. This case is set for hearing on September 8, 2014 at 9:00 a.m. at the Session Hall of this Court. The Civil Registrar and any person having or claiming any interest under the entries whose cancellation or correction is sought may, within fifteen (15) days from notice of the Petition, or from the last date of Publication of such notice, file his/ her opposition thereto. Let a copy of this Order be furnished the Office of the Solicitor General, Office of the Local Civil Registrar of Cagayan de Oro City, the Petitioner and her counsel. AFTER petitioner’s documents in compliance with jurisdictional requirements are marked and declared complete, and there is NO OPPOSITION filed, petitioner should PRESENT EVIDENCE EX-PARTE before our Branch Clerk of Court, Atty. Kathryn A. Galarrita, at a convenient date and time agreed between the latter and counsel. SO ORDERED. Given this 11th day of June 2014 at Cagayan de Oro City. (Sgd.) MARITES FILOMENA B. RANA-BERNALES Presiding Judge BWM : June 20, 27 & July 2, 2014
Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10TH Judicial Region BRANCH 38 Cagayan de Oro City
DIRECTORIES
A PUBLIC SERVICE BY:
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Algen’s Dive Resort (088) 3872015
Philtown Hotel 726295 / 8564402 Fax: 723104
Apple Tree Resort & Hotel 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 0939-9076948
Pryce Plaza Hotel 8583131 Fax: 726687
Bahay Bakasyunan sa Camiguin (088) 3871057 / 3870131 Fax: 3870278
Prawn House (088) 3095992 Fax: 8519219 Ridge View Chalet 8588946 / 8587946 Fax: 8588946
Basamanggas Resort 08822-760564 Fax: 760565
Seda Centrio Hotel 32288888
Cagayan Riverview Inn 8584245 / 729039 Fax: 8584245
Southwinds Hotel 724803 / 8562036 Fax: 8562036
Casa Crystalla 8561704 / 722465 Fax: 722480
Stargate Dream Vacation Resort 8515003 / 8509999
Casa Isabella (088) 8564065 Casa Azucena 8563402 / 09236593973 Chali Beach Resort 732840 / 8552108 Fax: 8555941
The VIP Hotel 726080 / 8562505 Fax: 726441 Tune Hotel 8800888/8801306 Travelers Pod 8518988 Uptown Condotel 8511800
Country Village Hotel 8583004-06 Fax: 8583006
Villa Paraiso Apartelle 3870419 Fax: 3870429
D’Budgetel 8564200/726643 Fax: 8564300
HONORARY MEMBERS: Dept. of Tourism 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: Bigby’s Café 72-1071/857-5511/8575836 Fax: 711843
Dahilayan Forest Park 8568562 to 63 De Luxe Hotel 8572144 / 724548 Fax: 724563 Discovery Hotel 727814 / 8563896 Fax: 8563897 Duka Bay Resort (088) 3312290 Fax: 725265
Café Laguna 8582999 Fax: 8567001
Grand City Hotel 8571900 / 728469 Fax: 723718
DM Villaruy Restaurant 733790 Golden Ajirang I 856-5271 Fax: 727876
UPON EXTRA-JUDICIAL PETITION FOR SALE under Act 3135 as amended filed by Act No. 4118, filed by HOME DEVELOPMENT MUTUAL FUND (otherwise known as PAG-IBIG Fund), with branch office at Pag-IBIG Fund Bldg.,J.R. Borja St., Cagayan de Oro City, against ELVIE J. LUSTADO, married to Clarito C. Lustado, with postal address at Lot 20, Block 30, PAG-IBIG CITY HOMES, Malanang , Opol, Misamis Oriental , OR at Blk. 8, Lot 2 Greenville Subd., Bugo, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of May 16, 2014, amounts to Four Hundred Thirty Three Thousand Seven Hundred Eighty Pesos & 82/100 ( Php 433,780,82), Philippine Currency, as principal, interest, charges , attorney’s fees and expenses of foreclosure, the undersigned Sheriff or his deputies will sell at attorney’s fees and expenses of foreclosure , the undersigned Sheriff or his deputies will sell at public auction on JULY 9, 2014, AT 10:00 A.M. TO 4:00 P.M. or soon thereafter at the Office of the Regional trial Court, Branch 38, 2nd Floor, Hall of Justice, Hayes Street, Cagayan de Oro City, to the highest bidder, for cash and in Philippine Currency ,the following real property, with all the improvements found thereon, to wit:
Hotel Conchita 8563856 / 727355 Fax: 8563857
Grand Caprice Restaurant 72-6955/856-2302 Fax: 72-4986
Hotel Koresco 8589749-50 Fax: 8589748
Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003
“TRANSFER CERTIFICATE OF TITLE NO.136-2012000747” ( Registered in the name of Elvie J. Lustado, married to Clarito C. Lustado)
Mapawa Natures Park 8584402 Fax: 725265
SP CASE NO. 2014-034
Petitioner.
RESORTS, HOTEL & RESTAURANTS
Chananthon Bed & Breakfast 8568189 / 3093095
SERVE THE FOOD THAT HEALS, THE BODY HAS THE POWER TO HEAL ITSELF, THEREFORE ALL REMEDIES AND TREATMENTS SHOULD SUPPORT SELF-HEALING RATHER THAN MASK SYMPTOMS.
11
NOTICE OF EXTRA-JUDICIAL SALE EJF Case Number 2014-144
LOT : LOT 20, BLOCK 30, PSD-10-057664 PORTION OF LOT : LOT 1, PCS-10-003972 AS SURVEYED FOR : UNITED COCONUT PLANTERS BANK ( PAG-IBIG CITY HOMES) LAND USE : ( RESIDENTIAL), LOCATION : MALANANG, OPOL, MISAMIS ORIENTAL Xxx, with an are of Ninety ( 90) square mtrs., more or less.” All sealed bids must be submitted to the undersigned on the abovestated date, time and place. In the event the public auction should not take place on the sais date for whatever reason, the same will proceed on the following working day without need of further notice, posting and publication. Prospective buyers/bidders may investigate for themselves the title of the property above-described and encumbrances thereon, if any there be. Cagayan de Oro City, June 6, 2014.
FOR THE EX-OFFICIO PROVINCIAL SHERIFF:
(Sgd.) REYNALDO L. SALCEDA Sheriff IV BWM : June 20, 27 & July 4, 2014
Dynasty Court Hotel 8574802 Fax: 857900
Hotel Sogo 8520383 Kingston Lodge 8585696 Fax: 8585696
La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605 Max’s Restaurant 8586297 Fax: 8568264
Mallberry Suites 8541999 / 7249999 Fax: 8544999
Missy Bon Bon 8566852 / 09228606442 Fax: 8566852
Maxandrea Hotel 8572244/729943 Fax: 724090
SLERS Ham & Café 8551438
Miami Inn 8581901 to 02 Fax: 725279/728486
Thai Me Up 738424/3108424 Fax: 738424
N Hotel (088) 8801924
Barkadahan Grill 8551234
Paras Beach Resort 8568563 Fax: 8568563
La Tegola Cucina Italiana 8585959
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