BusinessWeek Mindanao (September 19, 2014)

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Volume V, No. 45

Market Indicators

As of 6:00 pm sep. 18, 2014 (Thursday)

FOREX

PHISIX

US$1 = P44.42

7,287.29 points

2 cents

X X Briefly 55.45 points

Job challenges DAVAO del Norte -- A study on jobs challenges conducted by the Philippine Institute for Development Studies (PIDS) stressed that minimum wage policy reduced employment in the country.

This was revealed during the recent Biz Talk at Big 8 by Dr. Vicente Paqueo, visiting senior research fellow of PIDS and one of the authors of the Labor Policy Analysis for Jobs Expansion and Development.

“Minimum wage reduces demand for workers in small firms; decreases the chances of the young, female, low-educated and inexperienced workers being hired; and raising it results in lower household income,” Dr. Paqueo declared.

Paqueo explained that they found these through clear evidences from impact studies on household income and poverty incidence, employment of enterprises, employment of individual workers from disadvantaged population groups and hours of work.

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M’danao execs endorse devt corridors program

D

AVAO City -- The Confederation of Provincial Governors, City Mayors and Municipal Mayors’ Leagues Presidents of Mindanao (Confed-Mindanao) recently reconvened and endorsed the Mindanao Development Corridors program as a key strategy that will help the islandregion achieve connectivity and enhance its global competitiveness.

At the recent membership meeting, newly-elected Confed President Surigao del Sur Governor Johnny Pimentel led the promulgation

of a resolution supporting the Mindanao Development Corridors, saying that “it is crucial for Local Government Units (LGUs) to adopt the

corridors program as a means to ensure that localities are ready to assimilate in anticipation for the ASEAN integration in 2015.”

He added that it is high time for Confed members to start re-evaluating plans, programs, and projects to ensure that these are geared towards preparing Mindanao for the imminent integration in the ASEAN Economic Community (AEC).

The Mindanao Development Authority endorse/PAGE 11

CANDLE LIGHT DINNER. Sharlene Grace, 4, waits for his brother, John Arthur, 5, to finish eating dinner in their home in Samburon, Linamon town in Lanao del Norte last.

The family eats dinner by candle light every day since they could not afford to have electricity installed. Their father drives a motorcycle for a living and their mother takes care of the kids full time. mindanews photo by aubrey rocin llamas

Normin continues to post double-digit tax collections

By APIPA P. BAGUMBARAN Contributor

NORTHERN Mindanao has maintained its tax collection momentum as it continues to post double-digit revenue g row t h , s ay s Nat i on a l Economic and Development Authority (NEDA) in the region.

Data gathered by NEDA shows that the Bureau of Internal Revenue (BIR) in the region has collected P2.6 billion tax revenues in the second quarter of 2014, higher by 15 percent tax/PAGE 11

Steag’s 210-MW capacity set for auction next year

Cacao farms DAVAO City -- Multinational firm Kennemer Foods International, Inc. has expanded its cacao farms with projects in Agusan del Norte, Misamis Oriental and Lanao del Sur. Simon Bakker, Kennemer president, told BusinessWeek Mindanao the company tapped First Valley Bank for the financing requirements, particularly in Misamis Oriental.

The rural bank is lending about P60,000 for every hectare to be developed on a five-year loan period.

“The collateral is the farm,” Mr. Bakker said.

P15.00

FLOATING GARDEN. With scarce dry land on which to grow vegetables, women in Barangay Balong, Northern Kabuntalan, Mindanao have developed floating gardens in the middle of the Liguasan Marsh. mindanews photo by ferdinandh b . cabrera

THE 210-megawatt generated capacity of Steag coal-fired power plant in Misamis Oriental will be auctioned off next year by the Power Sector Assets and Liabilities Management Corp. (PSALM), an official said yesterday.

“The tentative schedule for the STEAG privatization is the second half of 2015,” said Emmanuel R. Ledesma, Jr., PSALM president and chief executive officer.

Last week, Aboitiz Power steag/PAGE 11

DOE sets 30% gas share in energy mix

By MYRNA VELASCO, Contributor

THE Department of Energy (DOE) is planning to integrate 30 percent as the share of gas technology in the country’s energy mix.

“We’re trying to target gas as a component of the

energy mix, we’re looking at 30 percent – not only LNG (liquefied natural gas) but also natural gas,” Energy Secretary Carlos Jericho.

Petilla has noted.

He said the 30-percent

allocation will comprise of the existing and future capacities, noting that the leeway for capacity expansion is still immense given the current preponderance of coal in the future energy mix.

“It should be including the doe/PAGE 11

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MNLF vows peaceful coexistence in Northern Mindanao THE Moro National Liberation Front (MNLF) in Northern Mindanao has vowed to peacefully coexist with the people in Northern Mindanao, an MNLF official said Thursday.

Sammy Tagalog, head of the MNLF regional command in Northern Mindanao,

Davao, and the Caraga Region, said that the local MNLF has no plan to sow terror in the region following the arrest of the MNLF lawyer Ely Pamatong.

Pamatong is the leader of USAFFE, a group tagged by the National Bureau of Investigation (NBI) as behind

the alleged bomb plot of the Ninoy Aquino International Airport and the Chinese Embassy in Manila.

Before his arrest in Manila last week, Pamatong was at the headquarters of the USA Freedom Fighters of the East (USAFFE) in Gusa, Cagayan

De Oro City.

Tagalog said that MNLF presence at the USAFFE headquarters was only to respond to the request of Pamatong to secure the area.

“We are now liv ing peacefully since we are engaged in livelihood

which was granted by the government after the GRP and the MNLF signed a peace treaty during the Ramos administration in 1996,” Tagalog said.

The local police force is closely watching the MNLF and the followers of

Pamatong after local residents complained that he and his men have been harassing them.

A resident claimed that Pamatong urged them to join the USAFFE or vacate the place where they are now staying. (PNA)

CDO execs to hear plaints from market vendors T H E C a g ay a n d e O r o C it y C ou n c i l h e re h a s summoned the city market administrator and the traffic consultant to a hearing Friday to answer plaints of market vendors here.

C i t y C o u n c i l o r Ju n Acenas, chair of the city council committee on market and vendors, said t hat two ot her counci l committees on public safety and utility would join in the inquiry.

He said that the city council has acted on the special report delivered

by a colleague during the council’s regular session last Monday about the alleged abuses committed by market personnel and the city’s local traffic enforcers.

“I have received the formal complaint, signed by vendors, that narrated the various alleged atrocities committed by city hall personnel toward the lowly vendors here,” Acenas said.

He said that the vendors complained that the personnel of the Road andCAGAYAN TrafficDEAdministration ORO MAIN BRANCH J Lim Bldg., Tiano Brothers (RTA)P &allegedly stole goods, Kalambagohan Sts.,

kicked and harassed the young and old including pregnant women.

Acenas said that the tripartite committee has summoned Egay Uy, the consultant of RTA and Peter Abujuela, the city designated market administrator, and representatives from the vendors on Friday’s hearing.

“We want to hear the story from both sides so that the city council could adopt measures to arrive at a peaceful resolution of the issue,” he said.

Acenas expressed fear that chaos might take place in the city’s largest public market here if the issue is not resolved soonest. (PNA)

Tel. # (08822) 727-829 * Telefax # (088) 856-1947

CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011

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Fireside Chat: Back to Basics Rotary Club of Cagayan de Oro together with District 3870 Governor Manuel U. Along, Lady Biema Along. (Photo by: Dir Mike Mendoza)

Alvarez Mansion - August 30, 2014 AFFAIR ATTENDANCE (35/21)

∗ Pres.Luigi Sarraga

∗ PAG Carlo Romero

∗ PE Alvin Benasa

∗ Rtn. Roy Raagas

∗ PP Ching Sarraga

∗ Ann Luz Pamparo

∗ Sec. Sonny Tiro

∗ PDG Tinnex Jaraula

∗ PD Danny Camat

∗ PD Gus Rodano

∗ PP Malou dela Cruz

∗ Ann Ophie Paano

∗ Dir. Neil Que

∗ DG Manny Along

∗ PVP John de Cleene

∗ PP Linda Caragos

∗ Ann Melissa Que

∗ Dir. Dodie Larosas

∗ PP Caloy Gorospe

∗ Rtn. Jong Dumlao

∗ PP Divin Jaraula

∗ Ann Ana Fernandez

∗ PAG John Mark Sarraga

∗ PT Vince Valencia

∗ Rtn. Danny Empedrad

∗ GUESTS:

∗ PP Auau Gorospe

∗ Ann Emy Ceniza

∗ PAG Chito Sarraga

∗ PT Julius Duldo

∗ Dir. Paul Ferrer

∗ Lemuel Ceballos

∗ PP Yoling Malferrari

∗ Ann Grace Mendoza

∗ PP Mar Paano

∗ PP Ferdie Bernasor

∗ Rtn. Andy Llagas

∗ Msgr. Tex Legitimas

∗ PP Biema Along

∗ Ann Ester Cayas

∗ PP Carlo Romero

∗ PP Dietmar Schug

∗ Treas. Norman Makapugay

∗ Henrick Garcia

∗ PP Maleen Camat

∗ Ann Pam Valencia

∗ PAG Manny Alinabon

∗ Rtn. Tonyboy Fernandez

∗ Dir. Mike Mendoza

∗ Rotary Anns:

∗ PP Nitz Evangelista

∗ Ann Lori de Cleene

∗ PAG Sammy Blanco

∗ Rtn. Ariel Ceniza

∗ PD James Pamparo

∗ Pres. Juvy Sarraga

∗ PP Doris Lagrosas

∗ Ann Ching Ferrer

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Tan regains control of PAL: sources

THE Lucio Tan Group has regained control of Philippine Airlines (PAL) as it appointed its former president to oversee the operation of the country’s flag carrier.

Sources told Interaksyon. com that Jaime Bautista was appointed general manager of PAL as part of the “transition period.”

“Mr. Bautista will oversee the day-to-day operation of PAL,” the source said, adding that, “There would be minor adjustments in the organization, but no major shake up yet.”

PAL president Ramon S. Ang will remain in his post only until October, the source said.

The source said it’s “a matter of time” before full ownership of PAL would revert to Tan following

“c e r t a i n p r o c e d u r a l requirements.”

“They have to have a board meeting and report it to the stockholders meeting.

After that, it’s a done deal,” the source said, adding that Tan is “inches away” from controlling PAL. Earlier today, Tan held a reunion with PAL employees at t he headquar ters of Philippine National Bank, which the country’s second richest man also owns.

Another source said San Miguel Corp (SMC) has already received payment for its 49 percent stake in PAL, but declined to give details.

PAL shares dropped by 0.69 percent to P5.76 apiece today from last Friday’s P5.80. San Miguel also fell by 1.94 percent to P78.20

from P79.75 over the same period.

Trades in PAL reached 17,900 shares worth P103,682.

Last week, the Lucio Tan Group and San Miguel Equity Investments Ins. (SMEII) signed an agreement whereby the latter would sell its stake in PAL and Air Philippine Corp worth a combined $1 billion back to the former.

San Miguel owned 49 percent of PAL Holdings, which in turn controls around 90 percent of the airline and has a market value of about $3.4 billion.

Tan had retained 51 percent of PAL after the sale to San Miguel.

The conglomerate bought its stake in the flag carrier from Tan for $500 million in 2012, giving the conglomerate management control of PAL

and affiliate Air Philippines.

PAL Holdings reported a profit of P1.49 billion in the April to June period, reversing the P1.08 billion loss in the same three months of last year.

Second-quarter revenue shot up by 47.4 percent to P27.30 billion this year from P18.52 billion last year.

Ang, who is also SMC president, had said the flag

carrier likely turned in a profit starting April. PAL carried 4.5 million passengers in the first six months of this year.

PAL recently announced it would fly to Paris, London, Rome and Amsterdam after the European Union last July struck off the Philippines from a list of countries that fail to meet international aviation standards.

The flag carrier also plans to open services to New York, Chicago, Florida and other cities in the US after the Federal Aviation Administration upgraded the Philippines to Category 1 from Category 2 in April.

PAL operates a total of 26 weekly flights to the US, with frequencies to Los Angeles, San Francisco, Honolulu and Guam.

AEV sees work on water venture starting late 2015 A JOINT VENTURE led by Aboitiz Equity Ventures, Inc. (AEV) said work on its first water venture in Davao City may proceed by late 2015 with the preliminary cost estimated at P10 billion.

AEV and its partner, J.V. Angeles Construction Corp.

(JVACC), last June received the notice of award for the Tamugan Surface Water Developments Project.

“R i g ht n ow, we are continuing discussions with Davao City Water District (DCWD),” Roman V. Azanza III, AEV first vice-president for business development, said on Thursday night.

“We’re going to have heavy planning for the most of next

year and maybe commencing work in the latter part of that year,” Mr. Azanza said.

He said the project -which will involve the supply of 300 million liters of potable water per day -- is expected to start commercial operations after two-and-a-half to three years.

While the consortium is still working on studies for the project, Mr. Azanza pegged the initial project cost at around P10 billion.

“The cost depends on the final design but maybe around P10 billion.

We’re going to determine the final cost upon completion of the feasibility,” he said.

Financing of the project

will be shared by AEV and JVACC on a 70-30 basis.

Mr. Azanza said the project will benefit the whole city of Davao, which remains reliant on ground water and deep wells.

AEV earlier said the project involves the construction of a hydroelectric-powered bulk water treatment facility and a conveyance system that will transmit treated bulk water to various DCWD delivery points.

JVAC C t app e d A EV affiliate Hedcor, Inc. to prov i d e t h e n e c e s s a r y technical and operational expertise for the hydroelectric components of the projects. aev/PAGE 11

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Rules for full entry of foreign banks out in Oct. THE BANGKO Sentral ng Pilipinas (BSP) will release in tranches -- as early as next month -- the rules implementing a recently signed law that allowed the entry of more foreign banks into the country, its chief said on Tuesday.

“We plan to issue a couple of circulars to implement RA (Republic Act) 10641... likely in October,” BSP Governor Amando M. Tetangco, Jr. said.

RA 10641, or An Act Allowing the Full Entry of Foreign Banks in the Philippines, was signed into law by President Benigno S.C. Aquino III last July. It amended certain parts of the two decade-old RA 7721, which sanctioned the entry of a limited number of foreign banks.

The new law states that more foreign banks -- which should be publicly listed in their home country -- could operate in the Philippines through any one of the following modes of entry: by acquiring, purchasing or owning up to 100% of the voting stock of an existing bank; by investing in up to 100% of the voting stock of a new banking subsidiary incorporated under the laws of the Philippines; or, by establishing branches with full banking authority.

Banking&Finance

Still, RA 10641 mandated the Monetary Board to take steps in ensuring that at least 60% of the resources or assets of the entire Philippine banking system is held by domestic banks majorityowned by Filipinos.

DRAFT IRR The countr y’s largest banking groups, the Bankers Association of the Philippines (BAP) and the Chamber of Thrift Banks (CTB), said they have yet to see a copy of the draft implementing rules and regulations (IRR).

“The BAP has not received the IRR for RA 10641,” BAP President Lorenzo V. Tan said in a mobile phone reply Monday when asked whether the industry group has been shown a copy of the draft.

Mr. Tan said though that there already are expectations that the BSP “may decide to have [the IRR] in one go or in tranches through a series of circulars.”

Thrift bank chamber chief Jose Teodoro K. Limcaoco likewise said in a chance interview on Sept. 10 that the central bank skipped c onsu lt at i ons ove r t he implementing rules with the 55-strong group.

But asked whether thrift banks - many of which are smaller, rural-based players - have any concerns about rules/PAGE 9

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BPI partners with Japanese firm for leasing business BANK of the Philippine Islands (BPI) has taken on a Japanese partner to grow its leasing business.

The joint venture, which will be created by Century Tokyo Leasing Corp (CTL) acquiring 49 percent of the shares of BPI Leasing Corp, will be named BPI Century Tokyo Lease & Finance Corp.

“The creation of this joint venture recognizes our success in the Philippine market and its potential for further growth. BPI has a strong track record of partnerships with international financial institutions, like our BPIMitsui Sumitomo Insurance partnership for non-life

insurance and BPI-Philam for life insurance,” Cezar P. Consing, BPI president and chief executive said.

“We are taking a strong business and making it stronger,” he added.

“We are very pleased to partner with such a wellestablished and proven company such as BPI on t his invest ment in t he Philippines,” Shunichi Asada, CTL president and chief executive said.

“Finding a reliable and recognized Philippine partner will help us serve the Filipino consumers and help realize the potential of the market.

I am especially optimistic

about the relationship this joint venture enables within CTL’s international business,” Asada added.

The joint venture will combine CTL’s resources and expertise with BPI’s proven record of growth and success

in the Philippines.

The strategic partnership is taking place at a time of consumer-led growth in the Philippine market.

B oth companies said their respective clienteles bpi/PAGE 9

BAD DEBTS held by rural and cooperative banks shrank relative to their total loan portfolio at end-March from a year ago, even as they continued to expand their lending activities, the Bangko Sentral ng Pilipinas (BSP) said last Friday.

Non-performing loans (NPL) - obligations that remained unpaid for at least 30 days after their due date made up 13.13% of rural and cooperative banks’ total loan

portfolio as of the first quarter, slightly lower than the 13.32% recorded in the comparable year-ago level and unchanged from the level seen in the last three months of 2013.

The NPL ratio is a key indicator of the quality of assets held by the banking industry.

Rural and cooperative banks’ bad debts amounted to P18.114 billion at end-March, up 5% from the P17.250 billion seen 12 months ago and from

the P17.306 billion recorded in the fourth quarter.

“As a prudential measure for mitigating credit risks, RBs (rural banks) and cooperative banks set aside loan loss reserves equivalent to 58.58% of their gross NPLs in March.

The figure is slightly lower than the 59.68% recorded at end-2013,” the central bank said in a statement.

The loans extended by rural and cooperative banks represented 2.75% of the entire

banking system’s total loan portfolio of P5 trillion in March, of which their NPLs accounted for 0.36% during the period.

“As the financial supervisor, the Bangko Sentral ng Pilipinas monitors the loan portfolio of all banking groups to assess trends that may potentially impact on the broader financial system. This is anchored on the BSP’s objective of promoting financial stability,” the statement read.

Rural banks clean up loan book

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Nice People or New People

T

hink a minute…What if you and I went on the exact same diet of vegetables and fruits? We drank 8 glasses of water and did the exact same exercises every day.

Would that make you and me look exactly the same, like twins? Of course not!

But many people do just that when they look at Christians.

People see a Christian who is not perfect and has a fault and they say: “You cannot be a Christian. You should be like Mary. She doesn’t act badly like you do.” Or they say: “Why aren’t you like John, he’s much more patient than you are.” But you see, just like being on the same diet and exercise program doesn’t make you and me look exactly the same, no 2 Christians look and act exactly the same.

When somebody sincerely decides to accept Jesus’ gift of forgiveness and new life, they just start obeying and living Jesus’ way every day. Jesus says that very day they have

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THINK

A Minute

By Jhan Tiafau Hurst

become a true, born again Christian and child of God. Jesus never said: “First, clean up your act! Get a haircut, some church clothes, and a good job, and only then will I accept you.” No, that is not what Jesus says! Jesus said: “Come to me just as you are!” Because it’s only after we decide to become God’s children by asking Jesus to forgive us and take full charge of our life, that He can start changing our heart, character and way of living.

Think a Minute…

Suggested Retail Price On Basic, Prime Agricultural Commodities

T

wo House committees has passed a formal Resolution, jointly urging the President to impose a suggested retail price (SRP) on basic and prime agricultural items to provide immediate relief to Filipinos in the wake of rising prices of agriclutural commodities.

Ent it le d “R es olut ion urging the President to provide immediate relief to the consumers by directing the Department of Trade and Industry (DTI), Department of Agriculture (DA), National Food Authority (NFA) and other concerned government agencies to impose a suggested retail price (SRP) on basic and pr ime ag r ic u ltura l commodities. the proponents said the immediate imposition is vital to the majority of poor Filipinos to check the spiralling of prices.

The joint panel members present who actively voiced their respective concerns and proposals which helped craft the resolution were: Deputy Speaker Carlos M. Padilla; Rep. Evelina Escudero; Rep. Randolph Ting; Rep. Gary Alejano; Rep. Jose Tejada; Rep. Raymond Democrito Mendoza; Rep. Pryde Henry Teves; Rep. Peter Unabia; Rep. Ben Evardone; Rep. Neri Colmenares; Rep. Rico Geron; and Rep. Sharon

L

editorial Garin, among others.

S e c . Fr an c i s “Ki ko” Pangilinan, Presidential Adviser on Food Security and Agricultural Modernization and other officials should be lauded for their support to the House joint-panel initiative relative to the option of imposing a suggested retail price scheme to curb the rising prices of basic food items, especially rice, garlic, sugar, and other prime commodities.

The resolution is candid in saying that it is the policy of the State to provide effective and sufficient protection to consumers against hoarding, profiteering and cartels with respect to the supply, distribution, marketing and pricing of said goods, especially during periods of calamity, emergency, widespread illegal price manipulation and other similar situations.

It is high time that more teeth should be used in enforcing the “Price Act” or R.A. 7581 which was signed into law on May 27, 1992 to provide consumer protection by stabilizing the price and supply of basic necessities

and prime commodities and prescribing measures against undue increase especially during emergencies.

Recent increases in the prices of rice, fresh pork, beef and poultry meat, and garlic, among others, clearly shows acts of hoarding and price manipulation and must be stopped.

It was confirmed that the NFA had doubled its rice stock releases distributed through more than 18,400 NFA outlets throughout the country to give cheaper options for Filipino consumers because of the spiralling prices of commercial rice which is bane to our already depressed economy.

NFA rice prices range from P25 to P32 per kilo while commercial rice range from P40 to P45 per kilo.

DA data show that the cost of production of local garlic is P40.86 per kilo; farmgate price is from P70 to P130 per kilo; and current retail price is P100 to P200 per kilo.

On the other hand, while the landed cost of imported garlic is P30 to P50 per kilo, its retail price in the market is from P280

to P300 per kilo.

The DA data could only mean that the increase in the price of garlic is artificial and highly irregular. Other market items such as pork, chicken, and ginger have also remarkably increased.

Proponents asked DA, DTI, BOC, and NFA officials to come up with a common position on a comprehensive government program or plan that include the real status and recommendations on actions needed to achieve the government food selfsufficiency program.

Recent developments are appreciated, however, such as when President Aquino convened a recent cabinet cluster meeting to deal with the issue of rising prices of said basic commodities, and the subject of SRP was one of the various issues considered seriously.

Thanks to the lawmakers for also putting to light the matter of suspected smuggled rice inventory of about 2,064 containers in the country’s ports. Said inventory should be acquired by the NFA to boost its buffer stock and possibly help avoid further rice importation.

The government must seriously take into account these matters which affects the lives of the masses.

Who is Judge Paz Esperanza Cortes?

IFE’S INSPIRATIONS: “… maintain justice in the courts…” (Amos 5:15, the Holy Bible).

-ooo ATTACKS ON JUDGE, ATTACKS ON JUDICIARY: Too much mud is now being heaped on Taguig City Regional Trial Court Judge Paz Esperanza Cortes in connection with her 75 page or so ruling allowing Denice Cornejo, Cedric Lee and Zimmer Raz to post bail in the non-bailable case of serious illegal detention which actor and TV host Vhong Navarro filed against them.

The objective in the attacks against Judge Cortes, led by no less than Justice Secretary Leila De Lima and a big media organization, is to discredit her, first to remove Vhong Navarro’s case from her and transfer it to a judge who maybe convinced to be more sympathetic to Navarro’s side, and, second, to compel a reversal of the order allowing Cornejo, Lee and Raz to post bail, obviously upon the prodding of powerful persons.

This is unfortunate, because this mudslinging is hurting not just Cortes anymore, but the entire judicial system, because what De Lima and her cohorts

have been doing is eroding the people’s faith not only in Cortes as a judge, but against the judiciary as a whole and in the capacity of the judicial branch to dispense equal justice even for the poor and the oppressed.

-ooo WHO IS JUDGE PAZ ESPERANZA CORTES? I don’t personally know Judge Cortes, although there is a case that is being handled by me in her court (I intend to ask for her inhibition after this column so I will not be accused of merely courting her favor). That not w it hst and ing , I am compelled to write this column to contribute to the discussion of Cortes’ ability to be fair and just, in the face of relentless attacks against her now, in media yet.

First, Paz Esperanza Cortes graduated from the University of the Philippines College of Law. Her classmates, among them activist lawyerdoctor Rudyard Avilla III, in Facebook posts, fully vouch, in unison, for her integrity and dedication to the law, and her beyond-reproach handling of cases in court.

Then, even before I appeared in her court, her reputation for honesty and fairness already reached me, in my personality as a free

legal aid lawyer who had been helping the poor and the underprivileged fight their cases, especially those against the rich and the powerful who have no qualms using their money to win. It appears that Cortes is a jewel of the judiciary when it comes to fair and blameless disposition of cases.

-ooo J U D G I N G FA I R LY, ACCORDING TO LAW: For, I learned that Cortes was assigned a case involving several Taguig City residents whose small-sized lands, near where the C-6 Highway is to be constructed and where their modest residential shanties stand, were being run after by a rich businesswoman and her heirs who had earlier sold them the lands. The businesswoman managed to get an order ejecting the residents allegedly because they failed to pay their amortizations.

Without anyone from the residents talking to her and without anyone of them trying to influence the outcome of the case against them, Judge Cortes sided with them, revoked the ejectment order against them, and recognized the residents’ status as buyers in good faith of their lands who must be allowed to proceed

K akampi

Mo A ng Batas

By Atty. Batas Mauricio

with their purchase of the real estate, in accordance with what is now known as the Maceda Law. I was astounded to know this decision of Judge Cortes. I mean, it would have been very easy for her to have amassed money in that case. Yet, she chose to uphold the right of the residents who could not offer her anything except their gratitude and their prayers, pursuant to what the law provides. I remember having prayed that there would be more of a Judge Cortes in our courts nationwide.

-ooo REACTIONS? Please call me at 0917 984 24 68, 0918 574 0193, 0922 833 4396. Email: melaniolazomauriciojr@ outlook.com, batasmauricio@ yahoo.com, and mmauriciojr111@gmail.com.

-30-

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Billboard BCI Asia cites FILINVEST as one of Asia’s Top 10 Developers

Filinvest Land Inc. (FLI) was cited by BCI Asia as one of the Top 10 Property Developers in the Philippines for 2014. The prestigious list features firms whose projects being constructed last year had the greatest total value.

Now on its 10th year, the annual event was held in seven Asian regions, including Hong Kong SAR, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.

It recognizes firms with the greatest volume of projects and encourages socially-responsible developments by including sustainability Inset: (L-R) FLI FVP for Bids and Awards Romeo T. Bautista along with FVP and Chief Technical efforts in its criteria. Planning Officer Winnifred H. Lim representing the company in the awarding ceremony.

iCare and SM will hold a sensory film showing for special kids Intervention Center for Autism and Related Exceptionalities or iCare, in partnership with SM City Cagayan de Oro will hold a sensory free film showing entitled “Planes 2” at SM Cinema 1 on Sunday, September 21 at 10am. iCare, a therapy center for children with autism and related disabilities will spearhead the “Sensory-Friendly-Movie” screening

as part of its first anniversary celebration with a theme “Loving, Caring and Educating Children with Special Needs.”

100 iCare kids as well as special kids from City Central and West City Central are invited to watch the movie.

This sensory free film presentation is the first of its kind in Cagayan de Oro City especially

catered to children with special needs.

SM Center Valenzuela, in cooperation with SM Supermalls’ Program on Disability Affairs, started this similar event way back in 2012 as a special opportunity for individuals living with autism and their families to enjoy their favorite films in a safe and accepting environment.

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7

THE MINDANAO FOOD CONGRESS 2014 4 Department Secretaries invited to grace Sept. 25-26 at Cagayan de Oro City The Cagayan De Oro Chamber of Commerce and Industry Foundation Inc. will host the largest gathering of agriculture and food industry players, government policy makers, exhibitors, businessmen and consumers in the Mindanao Food Congress 2014 which will be held at the Limketkai Luxe Hotel on September 25-26, 2014.

There will be 21 esteemed experts in agricultural development who will be speaking in the Food Congress, among them are Sec. Manuel “MAR” Roxas of the Department of Interior and Local Government (DILG), Presidential Adviser on Food Security and Agricultural Modernization Sec. Francis “KIKO” Pangilinan, Dir. Romeo Montenegro of the Mindanao Development Authority (MinDA) and Sec. Proceso Alcala of the Department of Agriculture.

The Food Congress envisions to prepare Mindanao for the challenges it will meet as a member of the ASEAN community in 2015.

The event updates the participant on the benefits and challenges of doing business in the ASEAN market in 2015; introduces new emerging markets, opportunities and best practices from the technical sessions on poultry raising, coffee, rubber, cacao, cassava and vegetable production, processing and marketing; promises networking with food industry experts, establishing contacts and finding new business prospects; promotes gaining insights on the latest support and services offered by the government agencies and financial institutions.

The Food Congress will be co-hosted by the City Government of Cagayan De Oro in Cooperation with the Mindanao Development Authority (MinDa), Department of Agriculture (DA), Department of Trade and Industry (DTI), and the Chamber of Agriculture, Fisheries and Food industry in Northern Mindanao (CAFFINORMIN). Prior to this, DILG Sec. Mar Roxas extended his support to the Food Congress by issuing memo (Memorandum Circular 2014-88) encouraging local government units to attend the said event.

The Mindanao Food Congress is sponsored by Unilox Far East Resources, Inc., Atlas Fertilizer Corp., A Brown Company, Inc., Globe, Landbank of the Philippines, Air 21, STI College, Coca Cola Bottlers Phils., STEAG,FDC Misamis Power, Maharlika Agro-marine Ventures Corp., Landbank of the Phil., Stronghold Insurance, CEPALCO, Jollibee, Agro-K Fertilizers, Universal Harvester, United Phosphorous Ltd., Tatei, Enterpriseworks, TG Breeder Farms, Limketkai, Bank of the Philippine Island, Gama Foods, Amley, and Moresco-1.

It would be a rare opportunity for everyone especially the agriculture industry in Mindanao to benefit from the worthy objectives of the Food Congress. For those interested to join the affair, you may contact the Oro Chamber secretariat 858-4068/8584073 or visit orochamber.net/foodcon2014.

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Environment

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Model Bamboo House conceptualized by Axent Resources Corp and designed by the UP College of Architecture and College of Engineering. photo courtesy of axent resources corp

Misor bamboo industry set to takeoff with “engineered bamboo house”

T

By Mike Baños, Editor-at-Large

he nascent bamboo industry in Misamis Oriental and neighboring areas is set for takeoff with the mass-based production of “engineered bamboo houses” for Sendong victims.

During the modest launching of the model house Wednesday, 10 September 2014 in Cagayan de Oro City, Archbishop Antonio Ledesma said the abundance of indigenous bamboo in t he region augers well for the future of Sendong survivors who have still to find a permanent settlement three years after the tragedy.

“I like to certainly support the efforts of Mr. Francis Osorio that we have lots of this natural material of bamboo. It’s also symbolic of the Filipino spirit of venturing anywhere but here we’re making it strong material for housing, especially for low-cost housing,” he said.

The cleric also lauded the convergence of the public and private sectors in addressing the issues of housing and livelihood facing Sendong survivors.

“We’d also like to thank the Dept. of Trade and Industry

(DTI) and other government agencies, including the city government, for supporting this effort. And the ultimate beneficiaries should be the many households and families that are still looking for stable housing areas in Cagayan de Oro. This is also a sign of our solidarity with everyone, and we hope we can all pitch in for helping one another.”

The archdiocese financed the construction of the model house so potential users could see it for themselves.

“The engineered bamboo house was conceptualized because many S endong victims have not yet been moved to a permanent relocation site,” said Astrid Jose A. Bana, coordinator, ACDO Social Action Center.

“Those who accessed funds via the Community Mortgage Program (CMP) of the Social Housing Finance Corporation (SHFc) loan package found the P60, 000

Prototype bamboo DepEd standard school armchair made from engineered bamboo (axent resources corp)

loan too small,” he added.

“Developers say the fund is too small and they cannot build a house for that amount.

SHF increased the loan package to P120, 000 but then this raised the issue of affordability because many did not have the income to pay back that amount.”

Francis Osorio, president of Axent Resources Corporation, who headed t h e mu l t i - d i s c i p l i n a r y team that conceptualized the model house, said its design and specifications were engineered by UP’s College of Architecture in coordination with its College of Engineering for the modular design.

Model House “This model house is only 6 by 6 meters but when you look at it, it is airy and bright because it has many vents to let in light and air,” said Mr. Osorio. “And it is spacious because your walls and ceiling look thinner compared to the usual concrete hollow blocks which make it look stocky.”

The engineered bamboo house comes with concrete foundations and flooring, kitchen sink, basic electrical and plumbing connections, toilet & bath, and septic tank.

The 6 x 6 meters (36 square meters) model comes with two (2) bedrooms and costs P120, 000.00 each.

Two smaller models are under development: a 5 x 5 meter (25 square meters,) model with one (1) room costing P90, 000.00 and another of the same size without the room with rafter roofing costing P70, 000.00 specifically designed for those who avail of the DWSD housing assistance in that amount.

The houses will be prefabricated as panels in the factory or hub, where the windows, doors, and walls are finished. When they reach the job site, they are assembled in 21 hours and ready for occupancy after two days.

Francis Osorio, president of Axent Resources Corp, explains the mechanics of the engineered bamboo panel to Archbishop Antonio Ledesam, CDO City Housing Board Chair Ramon Fernandez and DTI Officials during the model house launch 10 Sept 2014 in Cagayan de Oro (photo by mike baños, npn)

Mr. Osorio said a hub can produce up to 20 6x6 meter houses a week assuming all materials are available.

Most of the components will be made by home based operators or nodes.

An indigenous, renewable construction material “Because we are using bamboo, it is low priced. It’s not cheap but it’s an excellent raw material and renewable.

Ev e n i f y o u c o nt i nu e harvesting it, it continues to grow back,” he noted. “So we have a continuously available source of raw materials. You can grow the bamboo in your backyard where you can easily get raw materials when you need them.”

Mr. Bana said production of the bamboo slats will be handled by the Enterprise Ministry, in cooperation with the DTI. “ This project is a convergence of a livelihood project for the Sendong victims at the same time a low-cost housing for them which is eco-friendly and has a smaller carbon fo otpr int comp are d to

conventional materials since it is renewable,” he noted.

“ACDO SAC will handle the marketing which is why we invited the Housing Board and potential home owners.

Many Sendong victims have already visited the model house so we are now formally launching it today to answer their queries.”

In reply to the query of Ramon Fernandez, head of the Cagayan de Oro City Housing Board, regarding the house’s weather resistance and durability, Mr. Osorio said the unit uses galvanized metal profiles with a life of 50 years.

“When you combine steel with bamboo you have a very strong and beautiful house,” Mr. Osorio explained. “Steel will give it the form and rigidity, while bamboo will reinforce that rigidity and add beauty. Posts are made of angle bars and square tubes, so you have virtually 3 posts which reinforce each other making it very strong.”

Stronger than wood, brick or concrete and rivals steel Bamboo has a higher

compressive strength than wood, brick or concrete and a tensile strength that rivals steel (Roach, 1996; Rottke, 2002). Like true wood, it’s a natural composite material with a high strength-to-weight ratio ideal for structures (Lakkad; Patel,1981).

“Its outer skin makes it weather resistant and commercial finishing coatings like polyurethane can extend its life even longer,” Mr. Osorio said. “The bamboo sticks core is removed since it is the soft part. The sticks are then glued together to make a very strong and rigid but very light material. It’s stronger than Hardiflex and plywood and we can use it as a raw material to make your doors, windows and roofs.

The material processing for this can be done at the node or household level.”

Unlike Chinese engineered bamboo technology which excises the skin and core of the bamboo culms and then laminates them together in sheets (a manufacturing process which requires a big bamboo/PAGE 9

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9

Filipino investors optimistic on pensions, but based on some risky assumptions – Manulife Survey The majority of Filipino investors are satisfied with their government pension – but that sentiment is based on specific assumptions and a cash-dominant approach to retirement working out, according to the latest Manulife Investor Sentiment Index.* Two-thirds of respondents said that they are confident

t h at t h e i r gove r n me nt pension would be enough to meet their needs upon retirement – the highest level of all surveyed markets. In contrast, across all surveyed markets the proportion of confident investors was less than 40 percent, and as low as one-in-ten in some markets.

While such optimism seems positive, the survey

Levelling up through Text2Teach program

By Arlan Paul R. Reyes, Ph.D. Principal II Tablon Elementary School

Educating students in this generation is already a challenging task for educators, especially that modernization comes at hand. Each student’s mind evolves through time, thus, teaching must also join the cycle because it is a way in order to cope up on the people’s practices and mindset of this era.

There are various methods most educators used in discussions. In some ways, these are not just to modernize form of teaching but also to improve such and transform each class hours to an exciting journey of exploration and learning.

Text2Teach is a program for this kind of use. It is the Philippine version of the global Bridge IT program which provides educational videos and lesson guides on hard-to-teach concepts and least-learned competencies in subjects such as English, Mathematics, Science, and Values Education.

These videos and lesson

Rules... from page 5

RA 10641 that they wish to see addressed through the IRR, Mr. Limcaoco said in a text message: “Nothing in particular.”

Prior to the liberalizing amendments stipulated in RA 10641, Section 6 of RA 7721 had only allowed up to 10 foreign banks to enter the Philippine market within five years from 1994, when this old law was passed.

Currently, all 10 slots are filled by: CTBC Bank (Philippines) Corp.; Maybank Philippines, Inc.; Bangkok Bank Public Co. Ltd.; Bank of America, N.A.; Bank of China Ltd. Manila Branch; Citibank, N.A.; JP Morgan Chase Bank, N.A.; Korea Exchange Bank; Mega International Commercial Bank Co., Ltd.; and the Bank of Tokyo-Mitsubishi UFJ, Ltd. Under the previous law, only when one of the 10 banks pulls out could another foreign lender enter the Philippine market.

Communications Secretary Herminio B. Coloma, Jr. had said RA 10641 would address “the realities the country has to face with the integration of regional economies in 2015,” where the banking sector would play a crucial role.

guides are aligned with the curriculum set by the Department of Education (DepEd) to be implemented in public elementary schools across the country.

Text2Teach program uses advanced mobile technology and is integrated with teacher-training method. Text2Teach program aims to contribute to the quality of teaching and learning in underserved schools and communities in the Philippines. It is implemented in partnership with Microsoft, the Department of Education, local government units, Globe Telecom, and Pearson Foundation.

11 countries all over the world, including Philippines already enjoy Text2Teach program. It is good how mobile technology can be used for education and how could be so beneficial to students, teachers, schools and to the country’s educational system, at large.

Mr. Tetangco had also previously urged domestic banks to become more competitive given the changing environment. “We need to develop new skills and scale up even as we continue to foster integrity, fairness and accountability on the ground,” he had said, following the enactment of RA 10641.

BPI...

from page 5 complement each other from “both geographical and sectoral points of view.”

The joint venture plans to implement innovations, reach new customers and enhance services to BPI Leasing’s valued customers.

The Ayala-led bank reported a net income of P8.03 billion in the January to June period, down by a third from P12 billion in the same period last year.

Net interest income rose 15 percent year-on-year in the first half as the bank sustained growth in its core business. Net loans jumped 23 percent to P697 billion, while total deposits climbed 30 percent to P1.072 billion, exceeding the P1-trillion mark for the first time.

Despite the drop in earnings, BPI is keeping its full-year profit guidance of P20.21 billion, as the

shows it is based on some risky assumptions. First, i nv e s t or s e x p e c t t h e i r retirement income to be relatively high, at 92% of their current income – the highest estimate among all surveyed markets (Asia average 69%). Second, they expect their retirement expenses to be relatively low, at just 61 percent of their current income, at the lower end of surveyed markets (Asia average 66%). Third, nearly all (95%) said that in retirement they expect to rely on private healthcare – by contrast, in every other market only a minority expected to rely on private healthcare (Asia average

38%).

“Filipino investors have high estimates of their retirement income. Even if these turn out to be right, they may not be enough to cover their actual costs,” said Ryan Charland, CEO of Manulife Philippines. “Today, people generally expect their retirement to be active, and that means expenses will likely be much higher than what many realize. In addition, healthcare tends to cost a lot more than people expect. In Asia healthcare costs have risen about twice the rate of inflation over the past 10 years. Of course, it’s even more expensive if you go private.”

The survey highlights that Filipino investors have a high degree of reliance on their government pension, with only one in five owning an additional, private pension plan. Instead, many expect to fall back on other, less assured, largely cash-forms of income, notably savings (which they expect to make up 37% of their retirement income) and inheritance (12% of their retirement income) – in both cases the highest reliance of any sur veyed markets. This cash-dominant approach to retirement is reinforced by the finding that, on receiving their pension, Philippine investors plan to deposit

nearly half into the bank, the second-highest level of all markets (Asia average 35%).

“We know that Filipino investors like to hold cash and are among the most cashheavy investors in Asia. The latest survey shows us they also plan to be Asia’s most cash-reliant investors when retired,” said Mr. Charland.

“Keeping cash in the bank provides minimal returns, which may not even keep up with inflation. Their retirement optimism would have a sounder basis with a more balanced portfolio, especially given that retirement today can last 30 years or more.”

ENGAGING THE COMMUNITY – VICE GOVERNOR JOEY G. PELAEZ listens to parents of Hermano Elementary School in Balingasag, Misamis Oriental during a book distribution activity in the said school. The book distribution is also an avenue for Vice Governor Pelaez to look into the situation of students in schools and listen to teachers, parents and barangay officials. The distributed books were donated by Children International Philippines, Inc.

lender sees improved earnings quarter-on-quarter for the rest of the year even amid a rising interest rate environment.

Bamboo...

from page 8 capital investment), local engineered bamboo is homebased.

A Social Enterprise “If it is the households themselves who produce the bamboo components at home, they will have a livelihood of their own,” Mr. Osorio said. “So this would also help us address our unemployment problem since our households would become productive and our people would not have to travel all over the world to find a job.”

Osorio bills his company, Axent Resources Corporation, as a social enterprise and center for home-based productivity. “We develop technologies that can be operated in the households making the home a productive center,” he said. “We have carpentry, coconut shell charcoal, charcoal briquettes, and of course, bamboo processing.”

Axent is one of the bamboo hubs assisted by the DTI through the Bamboo Industry Development Board.

“DTI 10’s involvement in the bamboo industry started with

Executive Order 879 creating the Philippine Bamboo Industry Development Board and mandating the Department of Education to allocate at least 20 percent of its PhP700-million annual budget for school desks to purchase bamboo desks, chairs and furniture,” said Linda O. Boniao, Officerin-Charge of DTI-10. “However, so far DepEd’s compliance has been slow due to the price of the finished product.”

In compliance with EO 879, DTI 10 organized the Regional Bamboo Industry Development Council (RBIDC) in the 1st quarter of 2012 with DTI as chairman and the private sector as the vice chair.

Climate Change & Disaster Risk Mitigation, Poverty Alleviation Nationwide, DTI’s framework supports the bamboo industry three-fold: 1. Climate Change Mitigation, as bamboo captures carbon dioxide for its food and emits oxygen to give us clean fresh air and forest cover; 2.

Disaster Risk Mitigation, since it helps prevent soil erosion both in the mountains and rivers; and, 3.

Poverty Alleviation as it can be used for food (bamboo shoots) and livelihood.

“In 2012, our regional focus was on production, propagation, profiling and mapping of bamboo production areas. We started to

produce prototype chairs for DepEd but we knew that if we went on full swing, we would be short of raw materials,” Ms. Boniao said.

“Last year, we stepped up our trainings to selection, harvesting and treatment of bamboo. We also prioritized bamboo nodes and hubs in our Shared Services Facility Program (SSF).

“Nodes are primary processors located near plantation sites.

SSFs in CdO barangays are all nodes. Their enterprise is to cut the bamboo culms into 5 foot lengths, remove the inner core, slice into 2 inches and carbonize to kill the source of bokbok and deliver the slats to the hub. Mr. Osorio’s plant in Tagoloan, Misamis Oriental is the hub supporting the SSF project. Other hubs are in Iligan City, Camiguin and Bukidnon.”

“Given the price difference between producing chairs and engineered bamboo, we advocate for the latter as it has more premium in price, more sustainable demand and wider applications. This is also a good livelihood for our Conditional Cash Transfer beneficiaries.”

As of 2013, there were nine (9) approved SSFs in the province, eight primary processing or nodes and one hub with an aggregate assistance of P3.48million. A node is the facility for the primary processing of bamboo,

producing sticks or slats which are then brought to the hub for the production of various engineered bamboo products.

The eight nodes are found in Barangays Balubal; Bayanga, Dansolihon; FS Catanico; Tagpangi, Cagayan de Oro City; and in Cabalawan, Bgy. Mintabon, Talisayan; Claveria, and Lapad, Laguindingan, Misamis Oriental.

An additional node in Ugiaban, Dansolihon, Cagayan de Oro and hub in Talisayan, Misamis Oriental have been approved for 2014 with a total amount of P1.29-million.

Machines and equipment procured by DTI under the SSF project remain its property but are used by industry players who qualify as cooperators. A cooperator must be an association or any organization with legal personality and operating for at least 3 years. LGUs are qualified cooperators for 2014.

For inquiries, please contact: Social Action Center, Archdiocese of Cagayan de Oro, landline no.

(88) 880-011 or any of the following: Fr. Nathaniel Lerio (0917- 7195626), Mr. Astrid Bana (0917704-2960) or Mr. Francis Osorio (0918-912-6037). You can also email inquiries to adextra_saccdo@ yahoo.com.ph or astrid_bana@ yahoo.com.

-I N D N J C-

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Sports

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Shaun Alejandrae Yap Uy

CDORFC, Manila Hapons battle in the 1st Higalaay Rugby Challenge Cup

It's been a year since the sport of Rugby was born in the City of Golden Friendship and Cagayan de Oro Rugby Football Club (CDO RFC) celebrates its first anniversary with a series of special events happening for three Saturdays of this month.

CDO RFC held its community outreach program dubbed "Help Change the Life of a Child", a feeding and sports therapy activity for Boys Town Lumbia, September 13, and on Saturday, September 20, CDO RFC shall host back-to-back events with the "Juniors Flag Rugby Games" at 9 a.m. and the "Higalaay Rugby Challenge Cup" at 1 p.m at the Xavier University High School Campus Field.

Formed by Coach Noel Villa, a full blooded Filipino who grew up in the UK, CDORFC has already shown some promise after winning the Shield Division Championship during its debut at the 2014 Philippine National Games in May this year.

CDO RFC’s first anniversary will also be the birth of its flagship event, the first "Higalaay Rugby Challenge Cup", and has invited a Manila-based International touring Japanese team to play against the Team in local soil.

The Manila Hapons, one of the strongest Rugby teams in the Philippines and a regular in social rugby tournaments in and around Asia.

Their Team Captain is Masayuki Sekiguchi who recently qualified to represent our National Team, the

Philippine Volcanoes.

Coach Villa is proud to have kicked-off Rugby in Cagayan de Oro City, he said "It’s an absolute honor to have established a very promising Team and have coached it from the very beginning, even more now that I call Cagayan de Oro City as my home. There were a lot of challenges putting this team together but we have somehow managed to get the City into the map of the sport in the Philippines in a short period of time.

These players didn’t know anything about the sport and learned Rugby only through my training program.”

Villa also has high hopes for the team and the city’s growing affection for the sport of Rugby, “I’m hoping that the Team will grow even more when the locals get to see us play, especially with a great Team such as the Manila Hapons. I'm sure our local team will learn a lot from them and we are very excited to welcome them here. It’s also a chance for the City to show that we can hold such tournaments and if all goes to plan, CDO City will hold its First International Invitational Rugby Tournament next year. For the moment, expect real and exciting live Rugby action on September 20!"

Kagay-anons, let's support our local team and join in the 1st anniversary celebration of the premier Rugby team in the city!

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Endorse... from page 1

(MinDA), through the Mindanao Peace and Development Framework Plan or the Mindanao 2020, adopts the Mindanao Development Corridors as a key spatial strategy aimed to improve infrastructure, establish connectivity, and spur the development of growth clusters within the island-region, allowing it to achieve balanced and inclusive growth among its regions.

“This strategy will transcend regional boundaries in terms of commodity transfer which will make regions in Mindanao commercially viable,” MinDA Chair Luwalhati Antonino told Mindanao local chief executives at the meeting.

She added that the initiative also aims to position Mindanao as a single, integrated economy that is able to leverage and fully participate in economic groupings such as the BIMP-EAGA, ASEAN, and the rest of the global economic communities.

“Since our last meeting in 2012, we have moved ever closer to ASEAN economic integration. That is why we are rolling out the Mindanao Development Corridors to help us maximize Mindanao’s potentials into this economic cooperation,” said Antonino.

She stressed that ConfedMindanao’s cooperation is crucial to achieving the Mindanao 2020’s goals and objectives, particularly in pushing for meaningful governance strategies.

“Our LGUs know their territory better, which make them among our strongest allies in Mindanao’s development planning and in integrating the corridors initiative,” said Antonino.

Pimentel said that members of Confed-Mindanao will exert all efforts needed to assume the role as ‘Mindanao’s voice’ particularly in terms of infrastructure development and national budget allocation.

Established in 1990, ConfedMindanao is an advocacy group of Mindanao local chief executives which pursues peace and development, nation-building, and other initiatives that promote the Mindanao agenda.

The organization has been instrumental in creating major progresses in the island-region, specifically in the areas of power and infrastructure, connectivity, disaster risk and reduction, and in increasing Mindanao’s share in the national budget.

Pimentel is the first ConfedMindanao president who hailed from CARAGA region. Outgoing President Davao del Norte Governor Rodolfo del Rosario sits as one of the confederation’s Board of Directors.

(PNA)

Tax...

from page 1 or P336.39 million more from the tax collections in the same period in 2013.

This quarter’s marked the 14th consecutive quarter of double-digit tax growth collection, NEDA-10 Chief Economic Development Specialist Engr. Cecilio Clarete said in a media forum Wednesday.

Income taxes, which accounted for two-thirds of total tax takes, registered an annual growth of 13 percent from P1.53 billion in the second quarter of last year to P1.72 billion this year.

Other types of taxes also posted

improvements in collections with the highest increase of 92 percent posted by percentage taxes reaching P173.49 million.

Collections from value-added tax amounted to P515.65 million while excise taxes and other taxes totalled P186.43 million.

Clarete said the positive collection performance in the region is attributable to BIR’s implementation of reforms and intensified revenue collection efforts.

It is a good indication on how BIR is performing under the Aquino administration, he said.

Meanwhile, Revenue District (RD) 98 in Cagayan de Oro City remained as the top district collector in the region sharing 60 percent of the total tax receipts. It also registered the highest collection growth of 24 percent from P1.25 billion last year to P1.55 billion this year.

Steag... from page 1

Corp. (AboitizPower) expressed interest in the bidding for the independent power producer administrator contract for the capacity of the coal-fired plant in Misamis Oriental.

The plant, which supplies more than a fifth of the Mindanao grid’s power needs, was constructed by STEAG State Power, Inc. (SPI) under a 25-year build-operate-transfer cooperation scheme with the National Power Corp. (Napocor).

SPI is 51% controlled by Germany’s Steag GmbH. Other shareholders are AboitizPower with 34% stake and La Filipina Uy Gongco Corp. with 15%.

PSALM was formed under

SPEC. PROC. NO. 2014-1225

THE CIVIL REGISTRAR OF MANTICAO, MISAMIS ORIENTAL, Respondent. x------------------------------------------------/ ORDER

Finding the petitioner for Cancellation of First Certificate of Live Birth in the Civil Registry and Correction of Second Certificate of Live Birth as to the date of marriage of parents of Caroline G. Bondaug, sufficient in form and substance, the same is set for hearing on October 01, 2014 at 8:30 o’clock in the morning, at this court sitting at the Hall of Justice, Poblacion, Initao, Misamis Oriental. The Civil Registrar concerned and any person having or claiming any interest under the certificate of marriage wherein cancellation/correction is sought may, within fifteen (15) days from notice of the petition, file his or her opposition thereto.

At the expense of the petitioner, let a copy of this Order be published once a week for three consecutive weeks in a newspaper of general circulation in the Province of Misamis Oriental.

Further, let a copy of this Order and the petition be posted at the bulletin boards of the entrance door of this of this court, Hall of Justice, Initao, Misamis Oriental and Municipality Hall, Manticao, Misamis Oriental.

Finally, let a copy of the petition and this Order be furnished to the Office of the Solicitor General and the Office of the Civil Registrar concerned.

SO ORDERED. Initao, Misamis Oriental, August 19, 2014.

BWM: Sept. 12, 19 & 26, 2014

from page 1

existing because coal’s share in the mix is getting bigger, so you would still have big addition for gas capacities in the future. With the plants that are coming in… it’s good that Avion and San Gabriel gas plants are coming… but these would be against how many coal plants – several thousands of megawatts of coal,” Petilla stressed.

Past gas as a technology option in the energy mix, Petilla emphasized that pricing will also be among the focus of their policy-making initiatives.

“We also have to look at the pricing involved here,” he stressed, adding that a formula is being explored on how to arrive at a domestically-anchored gas pricing.

“What I’m looking at here is very simple: for example, this is the cost of coal and this is the cost of LNG – then we have to look at the environmental cost of coal. We need to translate that into peso, and if we convert that into peso, we add it into the cost and that will be the basis of LNG pricing.”

The energy department has been hankering for modified gas pricing – prospectively based on their own edict.

“Because if you have a gas policy and there’s no price reference, then the cost of electricity will shoot up,” Petilla intoned.

Nevertheless, many of the gas or LNG suppliers globally would still be batting for market-indexed pricing rather than domestically-hinged or policy-dictated costing as such may actually counter market fundamentals.

IN THE MATTER OF CANCELLATION FOR SPL. PROC. NO. 2014-486 OF CERTIFICATE OF LIVE BIRTH OF MARITONI ROSE TAGOTONGAN REGISTERED AS MARIETHONI O. TAGOTONGAN UNDER REGISTRY NO. 2004-903; MARITONI ROSE TAGOTONGONGAN (Minor) Represented by her biological mother, ROSIE TAGOTONGAN BRISCOE, Petitioner, -versus-

CAROLINE G. BONDAUG Petitioner, -versus-

DOE...

Republic of the Philippines REGIONAL TRIAL COURT 10TH Judicial Region Branch 28 Mambajao, Camiguin

Republic of the Philippines REGIONAL TRIAL COURT OF MIAMIS ORIENTAL 10TH Judicial Region Branch 44 Initao, Misamis Oriental IN THE MATTER OF CANCELLATION OF 1ST CERTIFICATE OF LIVE BIRTH IN THE CIVIL REGISTRY AND CORRECTION OF 2ND CERTIFICATE OF LIVE BIRTH AS TO DATE OF MARRIAGE OF PARENTS

Republic Act 9136 or the Electric Power Industry Reform Act of 2001 to assume ownership of Napocor’s assets and liabilities.

MELTON O. TAGOTONGAN and MARILYN O. TAGOTONGAN, and LOCAL CIVIL REGISTRAR OF MAMBAJAO, CAMIGUIN, Respondent. x-----------------------------------------/ AMENDED ORDER

Let this case be heard on October 6, 2014 at 2:00 o’clock in the afternoon, at this court. The Local Civil Registrar concerned and any person having or claiming any interest under the certificate of Live birth whose name is sought to be changed may, within fifteen (15) days from notice of the petition, file his or her opposition thereto.

At the expense of the petitioner, let a copy of this order be published once a week for three (3) consecutive weeks in a newspaper of general circulation in the Province of Camiguin and in Cagayan de Oro City.

SO ORDERED.

Mambajao, Camiguin, September 8, 2014.

MARISSA P. ESTABAYA Presiding Judge

(Sgd.) JEOFFRE W. ACEBIDO Acting Presiding Judge BWM: Sept. 12, 19 & 26, 2014

AEV... from page 4

Hedcor engages in the development of hydropower projects across the country.

JVACC is one of the leading contractors in the Philippines with 48 years of experience in the construction and development of water-related infrastructure.

Separately, AEV is looking for foreign and local partners for the auction of the biggest public-private partnership (PPP) project thus far.

Mr Azanza said: “For a project with that scale, we will need partners, both local and foreign, for the bidding as the project requires huge investment and thorough study.”

The Laguna Lakeshore project involves two components -- the P64.914-billion expressway dike and the P57.897-billion reclamation. The first component is the construction of a 47-kilometer flood control dike, on top of which will be a six-lane expressway. It will be adjacent to the western shoreline of Laguna de Bay, starting in Taguig, passing through Muntinlupa and Calamba, and ending in Los Baños.

The second component will be the reclamation of 700 hectares west of and abutting the expresswaydike, separated from the shoreline by a 100- to 150-meter channel, in Taguig and Muntinlupa.

“This involves two components, so the engineering works will be extensive and costly, so we might not be able to do it alone,” Mr. Azanza said.

Other companies that bought bid documents for the Laguna Lakeshore project were the

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following: Ayala Land, Inc.; Metro Pacific Tollways Corp.; Malaysia’s Muhibbah Engineering Bhd.; JV Power and Wealth Corp.; Megaworld Corp.; Minerales Industrias Corp.; GT Capital Holdings, Inc.; Australia’s Leighton Contractors; France’s Egis Projects S.A.; LT Group, Inc.; the Laguna Lakeshore Consortium of the D.M. Wenceslao Group; Filinvest Land, Inc.; the Philippine arm of Australia’s Macquarie group, Macquarie Securities (Phil.), Inc.; San Miguel Corp.; Megawide Construction Corp.; JG Summit Holdings, Inc.; Indonesia’s PT Star Line; State Properties Corp.; Malaysia’s Alloy MTD-Hashin-Vista Quezon City; France’s VINCI Concessions; and India’s IL & FS Transportation Networks Ltd. In a statement released on Sept.

4, the PPP Center said it tapped US law firm Jones Day as transaction advisor in the procurement of the P122.81-billion project.

The advisor will conduct a due diligence review of the project’s feasibility study, manage the bidding process, prepare PPP transaction documents and provide advisory support to the Department of Public Works and Highways (DPWH).

Jones Day will provide transaction advisory support to the DPWH together with its subconsultants ARC Developments International Pty. Ltd. of Australia, Jacobs Engineering Group of USA, Puno and Puno Law Offices, and Engineering Development Corporation of the Philippines.

Eight PPP projects have been awarded since the infrastructure program was launched.

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friday|September 19, 2014