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RURAL TRANSIT BACHELOR EXPRESS

“First in Service, Foremost in Fleet Maintenance”

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www.businessweekmindanao.com Issue No. 87, Volume III • Jul 6-8, 2012

Editorial: 088-856-3344 • Advertising: 0917-7121424

P15.00

Market Indicators

AS OF 5:56 PM JULY 5, 2012 (Thursday)

FOREX

PHISIX

US$1 = P41.68

5,369.98 points

; ; Briefly .15 cents

15.26 points

No US support

EXPECT no US support to the Philippines in its tiff with China over bananas, the Department of Agriculture said. The Department of Agriculture said an earlier plan to tap the US as an alternative market for Philippine Cavendish bananas may no longer be pursued. Clarito Barron, director of the DA-Bureau of Plant Industry, said the US has closer, thus cheaper, sources of bananas than the Philippines.

By NELSON V. CONSTANTINO, Editor-in-Chief with BUTCH ENERIO, Correspondent

T

Stronger economy

THE bustling economy of Cagayan de Oro City is expected to be even stronger in the coming months with the implementation of a US funded program. Mayor Vicente Emano has signed a memorandum of understanding (MOU) with USAID Mission Director Gloria Steel for the implementation of the United States Agency for International Development’s (USAid) Cities Development Initiative (CDI).

WFP aids Lanao Sur MARAWI City -- The province will continue to receive assistance from the United Nations (UN) World Food Programme (WFP) until 2014. This was announced by UNWFP Deputy Country Director Asaka A. Nyangara during the ceremonial launching of the Protracted Relief and Recovery Operations (PRRO) at the Provincial Capitol Social Hall on Monday. Nyangara said the two-year program aims to support government in recovery activities in food-insecure and conflictaffected communities in Central Mindanao.

SEAWALL FISHING. A local resident of Tandag in Surigao del Sur, patiently waits for a bite at the end of his line as he goes morning fishing at a seawall along the city boulevard here. PHOTO BY JUN AYENSA

Laguindingan int’l airport project LGUs blamed in delays to be rolled out before yearend of M’nao power projects THE OPERATION and maintenance (O&M) project of Laguindingan International Airport in Misamis Oriental-- one of 22 priority projects under the government’s centerpiece private-public partnership (PPP) program -- will be submitted to the National Economic and Development Authority (NEDA) this month in hopes of having it rolled out before the year

ends, officials said. PPP Center Executive Director Cosette V. Canilao said it will be ready for submission to the NEDA before the end of this month. Project structure, she explained, involves “duties and obligations that will be asked by the government of the private sector.” Once such terms are finalized, the project will be “ap-

praised by NEDA Investment Coordination Committee”, after which it will be “further evaluated by the NEDA Board”, which is headed by President Benigno Simeon S.C. Aquino III, for final approval. Ms. Canilao clarified that “while it (Laguindingan airport O&M) is not part of the eight priority projects for this AIRPORT/PAGE 9

SEAIR bullish about Davao By JUNNEX CHUA, Correspondent

Beside U.C.C.P., C.M. Recto Ave., Nat’l Highway, Cag. de Oro City

Cell No.: 0917-304-6195

BACK TO SCHOOL PROMO!

Trained by:

HE planned 300-megawatt coalfired power plant by Aboitiz Power Corp. in Davao City is now making headway with its subsidiary unit Therma South, Inc. announcing the final deal with its local and foreign contractors. “The aggregate value of the construction, supply and coordination contracts for the Davao coal project is around $546 million,” the firm said in a statement. The power plant is estimated to cost about P25 billion and was supposed to begin construction in July last year before it ran into problems with environmental groups. The company said said the project contractors include Formosa Heavy Industries Corp. and a consortium composed of Black & Veatch and Leighton Contractors (Philippines) Inc. Under the contracts, Formosa Heavy Industries will design, supply and erect the power-block equipment, while the Black & Veatch consortium will perform civil works, as well as engineer, procure and construct the balance of plant systems and facilities. Site-preparation activities for the project ABOITIZ/PAGE 10

RICKY REYES & DAVID’S SALON Makati City

COGNIZANT of Davao as the next major destination, South East Asian Airlines (SEAIR) unveils two daily f lights to Davao starting August 18, 2012. The airline will be bringing to Davao its brand of low-cost flights, offering the

lowest fares with the highest quality and reliability. In a press conference, SEAIR COO Patrick Tan said that Davao, given its accelerated infrastructure development of the area and the full support of the local government, has become a major business proposition SEAIR/PAGE 9

By IRENE DOMINGO, Reporter

THE lack of facilitation support from local government units (LGU) have caused delays in proposed power generation projects in Mindanao, the Department of Energy revealed in a statement Tuesday. The long approval process in local government offices may have led to a delay in power generation projects,

energy secretary Rene Almendras told participants in a two-day Top Level Policy Roundtable Discussion in Manila. The roundtable between private sector and government representatives delved into issues of energy, mining, agriculture, and transport and logistics in Mindanao. Almendras, however, emphasized there is no lack of LGU/PAGE 10


BusinessWeek Economy 2 Davao mayor declares 2nd week of July as MSME week July 6-8, 2012

MINDANAO

DAVAO City -- The second week of July was nancing forum and food on Scented and Decora- Seminar by the Davao Branding System will be declared as the Micro, Small and Medium safety seminar in public tive Candle Making by City Chambers of com- displayed at the exhibit the Department of Sci- merce and Industry. venues during the weekEnterprise (MSME) Week in Davao City. markets. Mayor Sara Duterte, t hrough Proclamation No. 6 Series of 2012, announced this as a manifestat ion of t he cit y ’s commitment to actively advance the concerns of MSMEs. Spearheaded by the Davao City MSME Devel-

opment Council, several activities are lined up for the celebration slated from July 9 to 13. T he s e i nc lu d e t he MSME Week Exhibit at the Davao City Pasalubong Center and Abreeza Ayala Mall, seminars and trainings for MSMEs, fi-

Among the seminars a nd t ra i ni ngs a re t he Sol id Wa ste Ma na gement S em i na r by t he City Environment and National Resources Office; Knowing Your Currency and Brief ing on the Credit Surety Fund by the Bangko Sentral ng Pilipinas, Techno-Demo

ence and Technology XI, Financial Management Seminar by Department of Trade and Industry – Davao City Field Office; Branding and IPO Seminar, How to Start a Business and Simple Book keeping Seminar; a nd A nt i- C or r upt ion & Integrity Initiatives

At present, 30 producers are joining the exhibit to showcase their products and services, such as processed food, souveni r items, home décor, jewelry, miracle oil, skin care, beads and bags, etc. One Town One Produc t OTOP a nd Davao

long celebration. MSMEs who are interested to join the exhibits and trainings may contact Fem Garcia of DCCCII at telephone no. 2264433; 2214148, and/ or DTI Davao City Field Office at tel no 2240511 local 208 and look for Arriel Nengasca.

Lanao del Norte line agencies showcase programs, projects By APIPA P. BAGUMBARAN Contributor

MARAWI City -- Various line agencies in the province showcased their respective programs and projects Sunday, declared by the provincial government as Line Agencies Day as part of its 53rd founding anniversary. A “hataw” exercise session, which is part of the healthy lifestyle program of the Integrated Provincial Health Office (IPHO), kicked-off the day’s activities. Various agencies also showcased their booth displays at the provincial capitol grounds. The Autonomous Region in Muslim Mindanao (ARMM) officer-in-charge governor Mujiv Hataman, graced the occasion and responded to the concerns of some of the agencies during the Line Agencies Reportorial Show held at the Social Hall

of the Provincial Capitol. Agencies that presented their accomplishments were the IPHO, Technical Education and Skills Development Authority (TESDA), Department of Environment and Natural Resources, Department of Public Works and Highways Districts I and II, Department of Education Divisions Lanao Sur IA, IB, IIA, and IIB, and the Department of Agriculture and Fisheries (DAF). Other agencies present at the event were the Department of Social Welfare and Development Lanao Sur-A and Lanao Sur-B, Department of Agrarian Reform, Department of Trade and Industr y, National Food Authority, Department of Interior and Local Government, National Statistics Office (NSO), Provincial Prosecutors Office, and Public Attorney’s Office. In his message, Gover-

nor Mamintal Adiong Jr. expressed appreciation to all the agencies who participated in the celebration. He also thanked them for supporting and cooperating with the provincial government in bringing programs and services that respond to the needs of the community specifically mentioning existing strong partnerships with NSO and National Bureau of Investigation on the mobile passporting program with DFA , IPHO on health and nutrition, TESDA on livelihood and manpower development, DAF on agricultural projects and DPWH on infrastructure support, among others. He also emphasized that the provincial government is committed to support consistency and transparency in all government actions and the core part of this will be achieve through strong LANAO/PAGE 11

Power coop settles tax arrears By DANILO E. DOGUILES Contributor

KORONADAL City -- The provincial government of South Cotabato and South Cotabato 1 Electric Cooperative (Socoteco 1) has signed a compromise deal that paves the way for the power distribution utility to pay its

unpaid taxes amounting to P73 million. Alfredo Dumanig, chief of the Land Tax Division of the Provincial Treasurer’s Office said, the electric cooperative has agreed to pay its real property tax (RPT) arrearages after months of negotiation. In December last year,

ta l k s bet ween t he loca l government unit and the cooperative began for the possibility of condoning accumulated penalties and surcharges from its RPT provided the former makes one-time payment of the principal tax due, which was at that time was computed at P41,271,295.48. However, during the ensuing deliberations on the matter, the Sangguniang Panlalawigan found that Section 178 of the Local Government Code, which sets policy on condonation or reduction of RPT does not apply to the cooperative’s proposal. This resulted in months of discussion on the adjustment of the proposed agreement, culminating with the signing of the final agreement Thursday, with Socoteco promising to pay the full arrearages. Following the signing of the deal, Socoteco paid initial payment of P6,557,960, Dumanig said. “Beginning August the electric cooperative will be paying P3,170,054 monthly until July 2013,” he said. These payments should cover POWER/PAGE 11


BusinessWeek

MINDANAO

July 6-8, 2012

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Companies

July 6-8, 2012

BusinessWeek

MINDANAO

Shampoo brands dominate TV advertising in June COMMERCIALS for shampoo and other hair-care products dominated TV advertising in June, new data showed. Research group Kantar Media, known more for its TV ratings data, has also started monitoring advertising placements on TV in June. According to Gabriel Buluran, Kantar Media general manager, the company will also begin monitoring advertising on radio and print media beginning this month. “What we’ve seen is that most of the commercials being shown are hair care. The manufacturers of hair care are getting a lot of airtime,”

Buluran said in a press conference on Tuesday. Unilever’s Sunsilk’s CoCreations shampoo has the most number of ad placements in June, according to Kantar data, with the brand’s conditioner with

nutrivitamin technology placing third. Palmolive Naturals shampoo of Colgate-Palmolive Co. was in second place, Unilever’s Clear Men DeepCleanse shampoo in fourth and Unilever’s Creamsilk

Nature-Nourished conditioner in fifth. Procter & Gamble’s Head & Shoulders anti-dandruff shampoo was at No. 9. Also making noise in terms of TV advertising in June was Selecta’s bestselling Magnum ice cream bar, which was at sixth place. “They were quite heavy. In fact, nagkaproblema yata sa supply. When you go to the supermarket wala ka ng mabili because everybody wanted to try this new ice cream,” Buluran said. Globe Telecom Inc. was at No. 7 with its commercials for the company’s “My Super Plan” for post-paid subscribers. “There was a time when

telcos overtook personal care in terms of advertising. Globe and Smart were among the top brands that were advertised,” Buluran said. “They’re still up there but the hair care category has taken back the leadership in terms of advertising,” he said. The research executive also recalled a time when when fast-food giants Jollibee and McDonald’s were heavy advertisers, “but now medyo wala.” Since this is the first time Kantar Media has come up with an advertising monitoring report, it is still to early to make a trend assessment. Buluran said advertising is also seasonal.

“Before we’ve also seen that the likes of Unilab wou ld be adver tising at around this time because pasukan na ng mga bata, umuulan, maraming sinisipon,” he said. Kantar said it has monitored close to 1,200 TV ads in the morning and nearly 1,600 ads during the allimportant primetime block. This translates to close to 600 minutes of advertisements at primetime and 400 advertising minutes in the morning. Rounding up the Top 10 are Unilever’s Surf Lavender with Freshness Petal at No. 7 a nd Uni lever’s Close-Up toot hpa ste at No. 10.

Cebu Pacific to offer Wi-Fi PLDT pay out dividends on preferred stock on long haul flights by 2013 CEBU PACIFIC plans to offer wireless Internet connection on long-haul flights next year, firming up earlier announced plans to fly nonstop to new destinations such as the Middle East, Australia, parts of Europe and the United States. In a statement yesterday, the budget carrier said its Airbus A330 f leet, which it will be leasing from CIT Group, Inc., will be fitted with the so-called OnAir Internet service “in time for the airline’s initial deployment of long haul services.” “[O u r] A 33 0 f l e e t , planned for introduction in the third quarter of 2013, will allow Cebu Pacific to provide direct, non-stop f lights to regions within the aircraft’s 11-hour flying range including the Middle East, Australia, parts of Eu-

rope and the United States,” the statement read. The carrier had forged a lease deal for four A330-300 aircraft back in February, back then announcing it was working on regulatory approvals for new routes. The Gokongwei-led airline had already been reported to have applied for authority to mount flights to Saudi Arabia, and has pending applications for flights to Guam and Palau. The Civil Aeronautics Board plans to enter negotiations in September with the United Arab Emirates and the Kingdom of Saudi Arabia to increase f light frequencies. Cebu Pacific had further said the company was confident that the Category 2 assigned by US Federal Aviation Authority (FAA) to the

country will be lifted soon. The US FAA downgraded the Philippines to Category 2 from Category 1 in 2008, preventing Philippine carriers from expanding operations in the US. The carrier went on to claim it will be “the first long-haul, low cost carrier in Southeast Asia to provide inflight Internet access.” “Cebu Pacific has a highly social community of over 600,000 likes on Facebook and over 380,000 Twitter followers,” Candice A. Iyog, Cebu Pacific vice-president for sales and distribution said in the statement. “We are very happy to provide our guests with the convenience of online connectivity while in-f light. [We] can now engage passengers through innovative CEBU PACIFIC/PAGE 11

INDEX HEAVYWEIGHT Philippine Long Distance Telephone Co. (PLDT) has moved to distribute cash dividends for holders of its preferred stock, a disclosure to the Philippine Stock Exchange showed on Tuesday. “We disclose that at the meeting of the board of directors of PLDT held on July 3, the board declared a final dividend of P0.0027 per day per outstanding share of Series GG 10% Cumulative Convertible Preferred Stock covering the period March 1 to Aug. 30,” the disclosure read. A cumulative convertible preferred stock is defined as a type of preferred stock with a fixed dividend yield based on the stock’s par value. The dividends of cumulative convertible preferred stocks are prioritized over those held

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 25 Cagayan de Oro City 2012-286 OFFICE OF THE PROVINCIAL SHERIFF SHERIFF’S NOTICE OF SALE EJF File No. 2012-156

RRepublic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 18 Cagayan de Oro City 2012-272 NOTICE OF EXTRA-JUDICIAL SALE File No. 2012-151

Upon Extra-Judicial petition for sale under Act 3135 as amended filed by NATIONAL HOME MORTGAGE FINANCE CORPORATION (NHMFC), mortgagee, with postal address at 104 Amorsolo St., Legaspi Village, Makati City, against EMMANUEL C. DAÑAR, mortgagor, with address at 5951 Fermina Street, Makati, Metro Manila/Lot 42 & 43, Block 2, Villa Candida Subdivision, Bulua National Hi-way, Cagayan de Oro City, to satisfy the mortgaged indebtedness which as of May 31, 2012 amounted to EIGHT HUNDRED NINETY THREE THOUSAND FOUR PESOS & 53/100 (P 893,004.53) exclusive of interest, penalty charges, attorneys fees and expenses of foreclosure, the undersigned sheriff will sell at public auction on July 30, 2012, at 9:00 o’clock in the morning or soon thereafter at the Regional Trial Court, Branch 25, Arch. Hayes Street, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the herein described properties, to wit; TRANSFER CERTIFICATE OF TITLE NO. T-69420 “A PARCEL OF LAND (Lot 43 Block 2, Psd-10-015484, being a portion of Lot 6221-C, Psd-10-012775) situated in the Barrio of Bulua, City of Cagayan Oro, Island of Mindanao. Containing an area of THIRTY NINE (39) square meters, more or less, and all other improvements existing thereon, registered in the name of EMMANUEL CUETO DAÑAR.” TRANSFER CERTIFICATE OF TITLE NO. T-69421 “A PARCEL OF LAND (Lot 42, Block 2, Psd-10-015484, being a portion of Lot 6221-C, Psd-10-012775) situated in the Barrio of Bulua, City of Cagayan De Oro, Island of Mindanao. Containing an area of THIRTY NINE (39) square meters, more or less, and all other improvements existing thereon, registered in the name of EMMANUEL CUETO DAÑAR.” All sealed bids must be submitted to the undersigned on the above stated time and date. In the event the public auction should not take place on the said date, it shall be on the next working day with out further notice, posting and publication. Prospective buyers/bidders may investigate for themselves the title of the herein described properties and encumbrances thereon, if any there be. Cagayan de Oro City, June 19, 2012.

Upon extra-judicial petition for sale under Act 3135 as amended, filed by NATIONAL HOME MORTGAGE FINANCE CORPORATION (NHMFC), Mortgagee, against, AURORA E. ILAGAN married to MIRULO A. ILAGAN, Mortgagors, with postal address at Blk 5, Lot 27, Villa Trinitas Subd, Bugo, Cagayan de Oro City, to satisfy the mortgage indebtedness of FOUR HUNDRED SIXTY THOUSAND SEVEN HUNDRED SIXTY PESOS & 44/100 (Php 460,760.44) as of April 15, 2012, plus expenses of foreclosure, the undersigned Sheriff will sell at public auction on July 20, 2012 at 9:00 a.m to 4:00 p.m at the Regional Trial Court, Branch 18, Room 117, Hall of Justice, Hayes St., Cagayan de Oro City, to the highest bidder for CASH and in Philippine Currency, the following properties described below including all existing improvements found thereon, to wit;

FOR THE EX-OFFICIO SHERIFF

BWM: JUNE 29, JULY 6, & 13, 2012

LOVE M. VERDADERO Sheriff IV

TCT No. T-65980 A PARCEL OF LAND (Lot 27, Block 5, Psd-10-015600, being a portion of Lot 1-D-2-E-10 (LRC) Psd-96906) situated in the Barrio of Bugo, City of Cagayan de Oro, Island of Mindanao, containing an area of ONE HUNDRED TWENTY SIX (126) SQUARE METERS, more or less. 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 working day, without further notice, posting and publication. Prospective buyers may investigate for themselves the title herein above- described and encumbrance thereon, if any there be Cagayan de Oro City, June 14, 2012. FOR THE EX-OFFICIO PROVINCIAL SHERIFF NIZA P. TACANDONG RTC Sheriff IV BWM: JUNE 29, JULY 6, & 13, 2012

by common shareholders in the event a company resumes dividend payments following a period of non-payment. PLDT’s cash dividends were declared out of the telecom giant’s audited unrestricted retained earnings as of end-2011, which have been deemed sufficient to cover the total dividend declaration, the disclosure added. The cash dividend will be paid on Aug. 30 to all stockholders on record as of May 22, PLDT said. PLDT last year reported a 7% drop in consolidated core net income to P39 billion from P40.2 billion in 2010 due to lower services revenues and higher expenses. The company’s consolidated net income sank by 21% to P31.7 billion from P40.2 billion, reflecting a consoli-

dation of PLDT’s merger with Digital Telecommunications Philippines, Inc. More recently, PLDT’s core net income from January to March stood at P9.3 billion, down 12.26% from P10.6 billion last year, while reported net income for the first quarter slid by 6% to P10.1 billion from P10.7 billion in the same period last year. These reductions were attributed to higher expenses impacting service revenue gains, a lower equity share from Manila Electric Co., and a higher provision for income taxes, earlier reports read. PLDT’s consolidated service revenues for the first three months of the year, meanwhile, went up by 13% to P42.8 billion from P37.7 billion while expenses grew PLDT/PAGE 11

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 25 Cagayan de Oro City 2012-286 OFFICE OF THE PROVINCIAL SHERIFF SHERIFF’S NOTICE OF SALE EJF File No. 2012-156 Upon Extra-Judicial petition for sale under Act 3135 as amended filed by NATIONAL HOME MORTGAGE FINANCE CORPORATION (NHMFC), mortgagee, with postal address at 104 Amorsolo St., Legaspi Village, Makati City, against EMMANUEL C. DAÑAR , mortgagor, with address at 5951 Fermina Street, Makati, Metro Manila/Lot 42 & 43, Block 2, Villa Candida Subdivision, Bulua National Hi-way, Cagayan de Oro City, to satisfy the mortgaged indebtedness which as of May 31, 2012 amounted to EIGHT HUNDRED NINETY THREE THOUSAND FOUR PESOS & 53/100 (P 893,004.53) exclusive of interest, penalty charges, attorneys fees and expenses of foreclosure, the undersigned sheriff will sell at public auction on July 30, 2012, at 9:00 o’clock in the morning or soon thereafter at the Regional Trial Court, Branch 25, Arch. Hayes Street, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the herein described properties, to wit; TRANSFER CERTIFICATE OF TITLE NO. T-69420 “A PARCEL OF LAND (Lot 43 Block 2, Psd-10-015484, being a portion of Lot 6221-C, Psd-10-012775) situated in the Barrio of Bulua, City of Cagayan Oro, Island of Mindanao. Containing an area of THIRTY NINE (39) square meters, more or less, and all other improvements existing thereon, registered in the name of EMMANUEL CUETO DAÑAR.” TRANSFER CERTIFICATE OF TITLE NO. T-69421 “A PARCEL OF LAND (Lot 42, Block 2, Psd-10-015484, being a portion of Lot 6221-C, Psd-10-012775) situated in the Barrio of Bulua, City of Cagayan de Oro, Island of Mindanao. Containing an area of THIRTY NINE (39) square meters, more or less, and all other improvements existing thereon, registeredvin the name of EMMANUEL CUETO DAÑAR.” All sealed bids must be submitted to the undersigned on the above stated time and date. In the event the public auction should not take place on the said date, it shall be on the next working day with out further notice, posting and publication. Prospective buyers/bidders may investigate for themselves the title of the herein described properties and encumbrances thereon, if any there be. Cagayan de Oro City, June 19, 2012. FOR THE EX-OFFICIO SHERIFF

BWM: JUNE 29, JULY 6, & 13, 2012

LOVE M. VERDADERO Sheriff IV


BusinessWeek

MINDANAO

Companies

July 6-8, 2012

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BDO boosts capital levels BDO Unibank, Inc. has fortified its capital position after completing a stock rights offer, raising a total of P43.5 billion that will allow it to comply with the central bank’s higher capital adequacy standards and undertake medium-term growth plans at the same time. “The bank’s capital adequacy ratio (CAR) and Tier 1 capital ratio are now at 20% and 15%, respectively, after the stock rights offer,” said BDO President Nestor V. Tan in a text message yesterday. “The bank’s capital level stands at P145 billion after the transaction,” he added. As of end-March, BDO, the country’s largest in terms of assets, had a consolidated CAR of 15.37% and consolidated Tier 1 ratio of 10.08%. CAR, which is composed of Tier 1 and Tier 2 capital, provides a measure of how much capital a bank has in relation to its “risk-weighted” assets such as money it has lent out. Tier 1 capital, under the Basel 3 regime, is composed of common equity and “additional going concern capital.” BDO’s capital as of March summed up to P101.5 billion. The bank launched the rights offer to put itself comfortably above the 12.5% CAR and 10% Tier 1 ratio the central bank is requiring of the country’s universal and commercial banks by Jan. 1, 2014 as the regulator accelerates the country’s implementation of Basel 3. It also needed to set aside funds to implement its mediumterm objectives.

The Basel 3 standards, drafted after the 2008 financial crisis, requires banks to set aside more buffers against financial and economic shocks. They are also aimed at improving governance and heightening transparency. In a disclosure to the stock exchange yesterday, the bank said: “BDO successfully completed its previously announced rights offering of common shares following the close of the offering period on June 27...The [transaction] raised gross proceeds of P43.5 billion equivalent to over $1 billion.” The bank’s rights offer was the largest equity transaction in the local capital market so far. A total of 895,218,932 common shares were issued to existing shareholders at a price of P48.60 apiece. The new shares, which will boost BDO’s issued and outstanding common shares to a total of 3.58 billion, will be listed on the exchange on Wednesday. “The offer was oversubscribed, with shareholders applying for shares beyond their entitlement. The offer also saw strong participation from the bank’s domestic and international investors

SB Capital arranges TeaM Energy’s $220M mezzanine loan facility TEAM Energ y Corporation (TeaM Energy) recently closed a $220 million 12-year mezzanine loan facility arranged by SB Capital Investment Corporation. Proceeds from the loan facility were used to primarily refinance the company’s existing mezzanine loan facility with PPF Company B.V. (formerly Nomura Philippines Power Funding Company B.V.). The transaction marked the first time that TeaM Energy has tapped the domestic capital market for funding requirements. Security Bank Corporation and Metropolitan Bank and Trust Company were the major lenders for the transaction. Security Bank President and CEO Alberto Villarosa said, “the mezzanine lenders welcome the opportunity to support TeaM Energy’s projects to produce reliable and stable energy sources. We are pleased to be a partner in efforts to develop a strong energy sector which is a key driver in our country’s economic growth.” Toshiro Kume, Executive Vice President and Chief Finance Officer of TeaM Energy, said “the new mezzanine loan facility is TeaM

Energy’s maiden fund-raising exercise from the domestic market. Notwithstanding the subordinated nature of the loan, the $220 million mezzanine facility achieved a successful financial close amidst a very tight timetable”. TeaM Energy is a joint venture partnership between noted Japanese firms, Marubeni Corporation and Tokyo Electric Power Company, Incorporated and, is one of the largest independent power producers in the Philippines, with over 2,000 megawatts (MW) of installed generating capacity. In June 2007, CrimsonPower Holdings Company, Inc. (later changed to TeaM Energy) signed a mezzanine loan facility agreement with PPF Company B.V. to partially fund the acquisition of 100% ownership in Mirant Asia-Pacific Limited (MAPL), then the largest IPP holding company, from US-based IPP Mirant Corporation. TeaM Energ y’s power generation portfolio consists of a 100% direct interest in the 1,218 MW coal-fired Sual power plant located in Sual, Pangasinan; a 100% direct MEZZANINE/PAGE 11

despite challenging global market conditions,” BDO said in the disclosure. Asked for the reason for the heavy demand for the rights shares, Mr. Tan said: “I think investors appreciated the rational for our capital raising and supported it with their subscriptions.” Sought for comment, Freya B. Natividad, analyst of online brokerage 2TradeAsia. com, said: “I think the full subscription of BDO’s stock rights offer was driven by the price of P48.60 per share. It was a [23.46%] discount from the current [P63.50] per

share price in the market.” “Investors were also optimistic of BDO’s move to strengthen its Tier 1 capital, which supports the bank’s buffer against uncertainties overseas,” she added in a text message yesterday. Astro C. del Castillo, managing director of brokerage firm First Grade Holdings, Inc., in a text message, concurred and added: “Investors continue to look for attractive investments given a volatile global market. Market players found the stock rights offer good enough for their investment appetite.”

Citigroup Global Markets, Inc., Deutsche Bank AG (Hong Kong branch) and JP Morgan Securities Ltd. served as joint international lead managers. United Overseas Bank

served as the international co-lead manager and international co-lead underwriter. BDO Capital and Investment Corp. was the domestic issue manager and underwriter for the transaction.


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Opinion

July 6-8, 2012

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judge and reason out with God, since he gave us these powers that have to be exercised under his law and terms, so to speak. God is the very foundation of reality. It is from him that we come and to him that we belong. He is actually everything to us. It would be funny if we think otherwise, although that is entirely possible since we are capable to abusing our freedom, of thinking that we can be absolutely on our own. Our usual problem is that we tend to think, judge and reason out, and even love outside the orbit of God, outside the purview of his laws and will. This is what our Lord meant when he said we should not judge. We may be brilliant, with high IQ and all that, but unless we think, judge, reason out with God, unless our love starts with God, we cannot go far in our life without getting into some trouble or anomaly. Without God, our life is already doomed. Without God in our thinking and judging, we are prone to be make rash judgments, to fall into fits of self-righteousness

MINDANAO

Give to Live THINK a minute… You may have heard the saying, “Joy shared is joy doubled.” Giving isn’t a sacrifice, it’s an investment. We actually get back much more than we give. So don’t give until it hurts, give until it feels good. The American President, Calvin Coolidge, said: “No person was ever rewarded or honored for what he received. Honor is always the reward to people who give.” What you and I do just for ourselves dies with us. What we do for others lives on even after we die. So it’s smart to invest in the success of others. “It’s when you help someone else up a mountain that you yourself end up closer to the top.”

The principle of giving is simply a law of life that works. Just like money can only get good things for you when it is used and circulated. But if you do not use your money or give it away, you can’t get any enjoyment or thing of value out of it. It’s only when you give out that you make more room inside to receive. You know that the Dead Sea is dead because it only receives and never gives. It does not flow out or give to other bodies of water, so it just dies. In the same way, when we don’t give to others we plug up the natural flow of life in us. This is why selfish, stingy people are never really happy, and seldom healthy.

T IN A successful man said: “You will be remembered for two things: the problems you solve and the problems you cause.” Each of us is created to be an answer and help to someone else’s life. A famous man put it this way: “You cannot live a successful day until you’ve done something for someone else who cannot pay you back.” The Jewish people have an important holiday every year which celebrates the giving of gifts. Everyone, including the poor, must find someone poorer than himself and give him a gift. You see, “If God can give gifts THROUGH you, He will give them TO you.” In fact, God loves us so much that He gave His own

Top tourist destinations in Normin SEVERAL studies have been conducted to theorize the complex links that exist between the tourism industry and processes of economic development. The study conducted by Milne and Ateljevic ( 2001) took the readers to the past three decades and allowed them to reach the conclusion with a discussion of the ‘new’ economic geography of tourism, in which cultural and economic boundaries are being transcended across a variety of scales. Other studies pointed out the importance of investigating the relationship between destination image and destination personality which were found to be related concepts, while the rest described the trends in

We should not judge? “DO not judge, that you may not be judged.” (Mt 7,1) We should be careful when we read the gospel, otherwise we will come out with funny conclusions. With this passage, for example, if considered only in itself, then it’s clear we have to go against our very own nature. And that’s funny, indeed! But the second line after that somehow puts those words in the right context. “For with what judgment you judge, you shall be judged; and with what measure you measure, it shall be measured to you.” These presume that we judge, but that we should judge properly. That’s the catch. To be sure, as persons we are designed to think, judge and reason out, and together with these, we are supposed to love. All these are part of our human nature, part of what go into our being “image and likeness” of God in which we have been created. We can’t help but do these, because they are our way of knowing and loving. We cannot know and love unless we think, judge and reason out. We just have to make sure that we think,

BusinessWeek

INT AND TRACE

FR. ROY CIMAGALA and into the subtle snares of envy, lust, deception, greed. In short, without God sin in unavoidable. Without God our sense of justice would lack the elements of mercy, compassion and magnanimity. It would be a justice of vindictiveness, gloating and of furthering one’s interest at the expense of the common good. The earlier we realize then that we need to train ourselves to think, judge and reason out with God always, the better for us. This is something that we have to teach around as widely as possible and as early as possible. We need to break the CIMAGALA/PAGE 11

developing traveller destination choice models which covered important issues in need of resolution for making advances in understanding, describing and predicting tourist decisionmaking . What lies ahead of the tourism industry entails more qualitative review of tourist decision-making literature. However, findings of the 2010 Household Survey on Domestic Visitors (HSDV) conducted by the National Statistics Office (NSO) generated vital data/ information which may be considered for planning and inputs in the analysis of the strengths, weaknesses, opportunities and threats on the tourism industry in this part of the country.

The 2010 Household Survey on Domestic Visitors (HSDV) aimed to gather data on household information on domestic tourism that are vital to the effective and efficient development and implementation of tourism plans and programs. The data sought to provide core indicators on domestic tourism for policymaking purposes. The survey yielded results that about 23.1 million Filipinos who are 15 years old and above have travelled within the country from April 1 to September 30, 2010. These domestic travellers represent 36.6 percent of the estimated 63.2 million Filipinos who are 15 years old and over.

A MIN TE

JHAN TIAFAU HURST

perfect life to pay for our wrongs, just so He could share His life with us. So why not give your life to Jesus Christ today? Then you can start enjoying His successful way of giving and living every day, for the rest of your life. Just think a minute… WHEN STATISTICS SPEAK

SALVADOR A. AVES, Ph.D, DM. In 2010, about 42,000 domestic trips were reported by the 23.1 million travellers, and 42,400 places were visited within the country. It is interesting to note that 53.3 percent were trips for pleasure or vacation followed by visit to friends or SALVADOR/PAGE 11

Media monopoly THE country together with the world press celebrated the billionaires of the Philippines recently. And why not, so we may all know of their successes, right? Or at least drool over their monies identified. With reference to one of the more infamous characters known as a Pacman with no reference to the professional boxer, is there not a law that prohibits a monopoly for broadcast TV and the presses. Assuming there is no regulation, shouldn’t there be one? Is this not anti-trust? The senate is set to tackle this bill to regulate theft and monopolies but till the day it ascends to a republic act we need to be vigilant to stop the manipulation of the rich and powerful to get even richer with absolute power. He who’s name will not be mentioned is known in the industry to have purchased as announced on media the gargantuan major TV network GMA7. It is common knowledge he already controls TV networks ABC5 and IBC13 and a slew of major print broadsheets namely the Inquirer, the Star

and the Business World. With GMA7 TV network up his sleeve to tow the line for media, who can negate public opinion as he calls it? Now all we need do, to get the news, is to ask the “man” right? He has become all powerful, absolute if anything and uncontestable because he controls media as we know it today. Public opinion will be controlled and perceptions managed towards personal interests. Business lobbying will be coherent and unstoppable for those who are connected. No administration will be able to stand or contest this power. Now didn’t we just read of the scandals that have recently rocked the British media with Rupert Murdock at the helm? His caliber however encompasses the world media from Australia to the Americas. Should we allow his slippery lawyers to skirt the spirit of the laws of the land to place him at the helm? He who’s name will not be mentioned need not run for president or chief justice, he will be more authoritative and feared by many administration to come.

SUPERBRANDING

HARRY TAMBUATCO

Now if you are not alarmed, you should be. He suffers obviously from survivor ego negating the misery of the common folk with our inequitable distribution of wealth keeping us from any sustainable growth. At the rate he is expanding his influence and powers, next stop would be the banks – so beware the rich that are already comfortable in their industry, you are prime targets. The Central Bank as we know it will likewise be under his control. The business acumen and the financial wizards that have successfully syndicated the broadcast take-over need TAMBUATCO/PAGE 11


BusinessWeek

July 6-8, 2012

MINDANAO

7

DPWH-10 RD Barroso witnesses dredging of Cagayan de Oro river A

FTER Cagayan de Oro City was devastated by typhoon Sendong on December 16 last year, rivers became shallow, which now needs dredging to prevent another disaster and to save lives and properties. Last June 28, the dredging of Cagayan de Oro River has started with DPWH-10 Regional Director Evelyn Barroso witnessing it. The dredging works started at the mouth

of the Cagayan de Oro River, along barangay Bonbon and move towards the upstream portion of the river. The dredging operation is undertaken by Administration with initial available funding of P610,000.00. The DPWH regional office will directly supervise the project in coordination with the Cagayan de Oro City First District Engineering Office. Spoil/containment area of materials is at barangay Bonbon thru a

Barangay Resolution approved by Barangay Captain Allan Mabalacad. Permit from Maritime Industry Authority (MARINA) is already at hand while the Environmental Clearance from the Department of Environment and Natural Resources (DENR) Region 10 is already on process. Even as the office is waiting for the approval of the DENR Environmental Clearance, the dredging equipment was already positioned since the accessories were already in place.


8

Agri Business

July 6-8, 2012

BusinessWeek

MINDANAO

Malaysia eyes more oil palm ventures in South Cotabato GENERAL Santos City -- The Malaysian government is pushing for stronger trade and investment linkages with South Cotabato province through fresh ventures in palm oil production. Malaysian Ambassador Dato Seri Datu Hajj Dr. Ibrahim Saad said they will explore the possibility of bringing in more Malaysian companies to invest in palm oil ventures in the province, which was earlier found by experts as viable area for the crop. “Mindanao, especially South Cotabato and Sultan Kudarat provinces are good planting areas for palm oil according to studies. We will seriously encourage our companies in the oil palm sector to look into possible expansion ventures in the

area,” he said in a visit to the province last week. Saad said several investors have already made inquiries and expressed interest to pour in their capital into the area utilizing the trade and investments mechanisms of the Brunei, Indonesia, Malaysia, Philippines-East ASEAN Growth Area (BIMPEAGA). Through the BIMP-EAGA mechanism, the Department of Agriculture and the Department of Environment and Natural Resources have been making representation with Malaysian trade officials

for the purpose of attracting agricultural investments into Mindanao. Data from the South Cotabato Office of the Provincial Agriculturist showed

that around 10,000 hectares of land in Lake Sebu town and 5,000 hectares in Koronadal City were found suitable and ready for palm oil production.

With Malaysia producing 45 percent of the world’s palm oil and considered as the second largest producer of palm oil after Indonesia, the provincial government believes that offering ready lands available for palm oil plantation investments will help enhance the industry’s prospects in the area. Pat Busarang, provincial agriculture technologist, said the province could become the next Sabah, which is considered as the largest producer of crude palm oil and contributes more than 30 per cent of the total palm oil exports of Malaysia. He said there are presently new oil palm plantation sites in the province’s lower

valley area towns of Norala and Tantangan. Busarang said most of the oil palm planted in these areas were already threeyears-old and only halfway through its projected production stage of six years. Overa l l, Liza Lacuit, South Cotabato high-value crops program coordinator, said the province has 1,229.38 hectares of oil palm plantations. These plantations are scattered in Koronadal City and five other municipalities of the province, she said. Lacuit said that out of the planted areas, 405 hectares were now on the production stage and at least 19,144 OIL PALM/PAGE 11

BFAR eyeing amended DENR allots 86,000 hectares fish importation rules for coffee farming under NGP Bureau of Fisheries and Aquatic Resources Director Asis Perez said Monday that the bureau is currently studying the possibility of changing the governing rules on the importation of fish and other fresh fisheries produce. The Bureau said the government is keen on “formalizing” fish importation to enable the Philippines to meet its annual demand for fish.

According to a report in the Business Mirror, Philippine 2011 fisheries production declined by 4.07 percent due to a decline in the catch of tuna as well as the three-month ban on sardines fishing imposed by the government In its national stock assessment program, the BFAR noted that most of the country’s fishing grounds are already heavily exploited. “We will try to adopt

the NFA system wherein we will determine the annual requirement minus the production. The difference is what we will allow to enter the country,” said BFAR Director Asis Perez in an interview. Also, in a separate interview with GMA News Online, Director Perez said that the difference between the requirement and production will be given a Certificate BFAR/PAGE10

THE Department of Environment and Natural Resources (DENR) allots some 86,000 hectares of upland areas for development into coffee plantations under the National Greening Program (NGP). DENR Secretary Ramon J. P. Paje said the inclusion of coffee as among the highvalue crops that would be planted under the NGP was in keeping with the food security objective of the program.

“The National Greening Program is not solely reforestation but it is also conceived to boost food production, and coffee is one crop that we know we can be self-sufficient by putting more government inputs to local coffee farming through the National Convergence Initiative (NCI),” Paje said. According to Paje, of the 86,000 hectares allotted for coffee farming, around 25,000 hectares are located

in the Cordillera Administrative Region (CAR); 12,000 hectares in Region 2 and 10,000 hectares in Region 12. Regions 3, 4A, 4B and 11 have 5,000 hectares each; Regions 5,7 and 8 have 4,000 hectares each (Regions 5, 7 and 8); 2, 000 hectares each for Regions 9 and 10); and 1,000 hectares each for Regions 2, 6 and 13. Last year, Paje said that some 2,554 hectares had DENR/PAGE 10


BusinessWeek

Misor.Today

Aquino declares July 23 a special non-working day in Gingoog City

Council calls for cooperation of LGUs in non-handicapping environment

MINDANAO

MISAMIS Oriental -- The National Council on Disability (NCDA) appeals for cooperation from the local government units to be more responsive in creating policies that complements national laws on the protection of persons with disabilities (PWDs). NCDA Acting Executive larger community,” she said. She said they struggled Director, Carmen R. Zubiaga, said that disability has now just to get access in almost evolved from an object of everything, be it in educacharity acclaimed holder tion, field environment, and even on getting respect from of rights. “We don’t want to be left the community folks. Zubiaga expressed this behind just because we lack of access, we don’t want to during the opening of the be left in the confines of two-day Non-Handicapping our homes just because our Environment (NHE) Forum family or the community is yesterday at the Dynasty the Regional Training School not recognizing the right of Court Hotel. The forum is organized to start their one (1) year PWDS to become part of a training. Forty-one (41) of them, representing 18% are female recruits. SEAIR cannot overlook,” They took their oaths of from page 1 added Tan. office as new members of the “In the BPO arena alone, tion not only to SEAIR PNP with the rank of Police but to other investors as well. Davao has investments pourOfficer 1 in temporary sta- SEAIR is in Davao as part ing in from both domestic tus. They shall receive their of a seven-city roadshow to and international sources monthly basic salary of Php announce its biggest network and for us in the airline 14,834.00 each, similar to expansion nationwide. industry, this translates to the regular police officers “Without a doubt, Davao more travelers coming in NEW POLICE/PAGE 10 is one major destination that and out of the city,” said Tan.

233 new police recruits formally received

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 22 Cagayan de Oro City 2012-259 IN THE MATTER OF THE PETITION FC SPEC. PROC. NO. 2012-039 FOR ADOPTION OF MARJORIE TORRES LUFERA, WITH PETITION FOR CHANGE OF NAME FROM MARJORIE TORRES LUFERA TO MARJORIE TORRES-JONES,

Seair...

REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT 10TH JUDICIAL REGION BRANCH 28 MAMBAJAO, CAMIGUIN In the matter of the Petition for Adoption Of a Minor Child Mariel Jane Sabdula Abid,

ORDER

ORDER This petition seeks for the adoption of MARJORIE TORRES LUFERA by the petitioner, JOCELYN B. TORRES-JONES and for the change of the name of the child to be adopted to MARJORIE TORRES JONES. Finding the petition sufficient in form and substance, the same is hereby given due course. Let the hearing be set on AUGUST 15, 2012 at 8:30 in the morning before this Court at Rm. 102, Hall of Justice, Cagayan de Oro City. At the expense of the petitioners, let this order be published once a week for three (3) consecutive weeks in a newspaper of general circulation in Cagayan de Oro City and in Misamis Oriental. The RTC Social Welfare Officer assigned to this Court is hereby directed to conduct a home and child study on the adopting parent, the natural parents and the child to be adopted. She is also directed to conduct counseling sessions with the biological parents of the child to be adopted. The reports thereof shall be submitted to this Court SIXTY (60) DAYS from the receipt of this order. Petitioners are directed to make arrangements with the Court Social Worker for the scheduling and incidental expenses in conducting the case study. Let a copy of this order and the petition be furnished upon the Local Civil Registrar of Cagayan de Oro City, the Solicitor General and the City Prosecutor of Cagayan de Oro City for their appearance in behalf of the state. SO ORDERED. Given this 30th day of May, 2012 at Cagayan de Oro City, Philippines.

BWM: JUNE 22, 29, & JULY 6, 2012

SPL. PROC. NO. 462 FOR: ADOPTION

VICTOR TUBO PUTOL and SANDI ABID PUTOL, Petitioners. x---------------------------------------------------- /

JOCELYN B. TORRES-JONES,

Petitioner, X------------------------------------------------------- /

(Sgd.) RICHARD D. MORDENO Presiding Judge

9

By JORIE C. VALCORZA Contributor

PRESIDENT Benigno S. Aquino III has declared July 23, which falls on a Monday, as a special (non-working) day in Gingoog City, a chartered city in the province of Misamis Oriental, in celebration of its 52nd Charter Day. The Chief Executive issued the declaration through Proclamation No. 398 signed by Executive Secretary Paquito N. Ochoa Jr. on June 6 to give the people of Gingoog City the full opportunity to celebrate and participate in the occasion with appropriate ceremonies. In June 1960, Gingoog became a chartered city by virtue of Republic Act No. 2668.

MEMBERS of Police Regional Office 10 headed by PCSupt. Jufel C. Adriatico, Regional Director, and the Philippine National Police (PNP) Regional Screening Committee formally witnessed the reception of 233 police recruits who, after completing the three (3) long months of tedious processing and validation of their mental, medical and physical fitness, were turned over to

July 6-8, 2012

Petitioners are of legal age, husband and wife, Filipino citizens and residents of Lumad, Mambajao, Camiguin. They seek to adopt a two (2) months old minor Mariel Jane Sabdula Abid who was born on March 10, 2012 of her mother Jackia Sabdula Abid. The minor was entrusted to the care and custody of the petitioners by her biological mother right after her birth. For the best interest of the child to be adopted whose well being is the utmost and paramount concern, the petitioners filed this petition. The petitioners possessed all the qualifications and none of the disqualifications to adopt. Finding the petition sufficient in form and substance, the same is hereby set for hearing in this Court’s Session Hall, at Lakas, Mambajao, Camiguin on August 14, 2012 to start at 8:30 o’clock in the morning. Let copy of the petition and of this Order be furnished the Regional Director of the Department of Social Welfare and Development, Region X, Cagayan de Oro City, for the preparation and confirmation of a new child home study reports and submit the same before the date of hearing as well as to conduct counseling sessions with the natural mother on the matter of adoption of the adoptee and accordingly submit a report therein before the date of hearing; and another copy of the petition and of this Order be furnished the Office of the Solicitor General, the Provincial Prosecutor of Camiguin, the Local Civil Registrar of Mambajao, Camiguin, for any step they may deem best and proper to take in this Petition. Let copy of this Order be published at petitioners expense once a week for three successive weeks before the scheduled hearing in any newspaper of general circulation in the Province of Camiguin. Any person or entity opposed to the petition in this case may file written opposition at any reasonable time before the scheduled hearing and personally appear during the hearing to show cause why the petition shall not be granted. SO ORDERED. Done in Mambajao, Camiguin, this 30th day of May 2012.

BWM: JUNE 22, 29, & JULY 6, 2012

(Sgd.) RUSTICO D. PADERANGA Judge

by NCDA and the Japan International Cooperation Agency (JICA) to showcase and demonstrate the implementation of the project which is piloted in Opol, Misamis Oriental and New Lucena in Iloilo province. She urged local government units to replicate the NHE project. “The NHE concept aims to create a barrier-free environment for PWDs, especially in the rural communities, to further enhance their participation in the society,” she said. The forum is opening is

joined by JICA Philippine Officer Senior Representative, Sachiko Takeda; Asia-Pacific Development Center on Disability (APCD) Executive Director, Akiie Ninomiya; Misamis Oriental Governor Oscar S. Moreno; Region 10 Social Welfare Director , Atty. Araceli F. Solamillo and Department of Social Welfare and Development Office 6 Regional Director, Dr. Minda B. Brigoli. It is highlighted with the launching of the NHE booklet, which is presented to NCDA, JICA, and APCD officials present.

A report by the Business Processing Association of the Philippines (BPAP) ranked Davao City as the first among 10 cities that will become major headquarters of the BPO industry in the Philippines. As one of the largest city in the world in terms of sheer size, Davao has a workforce of 400,000 and an estimated 13,000 graduates are added to it every year, according to BPAP. Tan underscored that Davao is the most livable city in the country and the 87th fastest-growing city in the world, citing survey results by international think tank City Mayors Foundation. It was the only Philippine city in the top 100. SEAIR has pioneered some of the country’s top destinations and has helped develop the tourism markets in Boracay, Batanes, and northern Palawan. The airline offers the lowest fares to all its current destinations: Singapore, Hong Kong, Bangkok, Kota Kinabalu, and Kalibo. With brand-new jet aircraft deliveries, SEAIR has been experiencing rapid growth and will expand its f leet to five Airbus planes by September. Located in Central Mindanao, Davao is the premier tourism, financial, and educational center in Mindanao. It is also home to some of the country’s top beach and mountain resorts, most notably the Pearl Farm in the secluded island of Samal.

Its capital, the melting pot city of Davao, offers visitors a glimpse of its rich cultural diversity through heritage sites such as the T’Boli Weaving Center, which showcases the intricate “tinalak” fabric loomed by hand, and the Davao Museum, which boasts of a great collection of tribal art. Davao is also an extreme adventurer’s paradise with activities like spelunking, white-water rafting, skimboarding, ziplining, and diving all being offered close to the city. Mt. Apo, the Philippines’ highest peak at 10,311 feet is found here.

Airport... from page 1

year that we announced, it is one of the projects that we foresee to be rolled out this year.” Specifically asked on a prospective publication of an invitation for bidders before the year ends, she said, “I think that is possible because the Laguindingan O&M is a simpler project.” Transportation Secretary Manuel A. Roxas II is also confident that an actual auction for the project could be held within the year. “It will be this year because the development of the airport is expected to be finished by the end of the year,” he said, referring to the P7.85billion rehabilitation of the airport. “So, there should be an operator when it is ready.” AIRPORT/PAGE 10


10

July 6-8, 2012

Motoring

BusinessWeek

MINDANAO

In wake of Ford pullout, auto parts makers seek new industry roadmap THE Motor Vehicle Parts Manufacturers Association of the Philippines wants the Aquino administration to scrap a roadmap for the auto industry after a US car manufacturer announced the closure of its production plant in Sta. Rosa Laguna. In a statement, Rommel proper implementing rules Juan, vice president of MVP- and regulations must be MAP, said the government crafted for everyone’s benefit. should take a second look What we want to see is a firm at Executive Order 877-A or resolve on government’s part the Motor Vehicle Develop- to put in place an MVDP ment Program, which was that would provide fiscal and non-fiscal incentives approved two years ago. ”A firm decision must not only to assemblers but be made as to whether this to end-users as well. It has should be scrapped altogether to be one that will encourage and be replaced with another local manufacturing rather one. If acceptable, then the than just trading,” Juan said.

He said the government must also look into helping fast track the approval of pending legislation that would aid the sunrise industries, such as the Alternative Fuel Vehicles bill, which would help grow the LPG, CNG and electric vehicle market in the country. “It is about time that the government takes a look at why Ford is closing shop. Why are companies like them relocating their production operations to our neighboring countries like to Thailand, India, China

Skipping Surplus: Engineered to deliver maximum strength and durability, RAIPMC’s OEM-quality Tiger leaf springs offer the best value for money MANILA, Philippines—XX March 2012—Out with the old, in with the new—at least when it comes to replacement auto parts. That’s the expert advice given by Michael Gonzalez, General Manager of Roberts Automotive and Industrial Parts Manufacturing Corporation (RAIPMC). Recognizing the tendency of car owners to opt for surplus items whenever a part needs replacing, he is quick to caution that “cheap and used” do not often deliver the same bottomline value as “brand new.” “The savings that one supposedly makes by buying surplus products may all be illusory,” Gonzalez asserts. “There is nothing practical about a secondhand auto part of unknown origin, with no warranty, and with no indication of how much is left of the product life cycle.” To help steer car owners into making genuinely value-driven decisions, Roberts AIPMC is thus working continuously to supply a diverse range of highquality and cost-effective automotive products. This includes the company’s Tiger leaf springs brand, which was launched in 1994 and has since been established as the only locally manufactured leaf spring trusted by original equipment manufacturers (OEM) like Mitsubishi Motors Philippines, Toyota Motors, Isuzu Philippines Corporation, Columbian Motors, Nissan/Universal Motors Corporation (manufacturer and distributor of Nissan light utility vehicles), and Pilipinas Hino. But Tiger isn’t just for the big industry names, Gonzalez points out. It’s

DENR.. from page 8

been planted with 1.5 million coffee seedlings under the NGP. NCI is a complementary mechanism that combines DENR’s resources and expertise with those of DA and DAR to achieve sustainable rural growth.

also for individual vehicle owners who may sometimes express reluctance at spending a little extra on a brand new replacement part, but won’t hesitate to seize every opportunity to get the best possible value for their money. Tiger represents one such opportunity. Unlike surplus or substandard leaf springs (or molye in Tagalog)—which may sag, break, or crack under heavy duty and extreme driving conditions—Tiger leaf springs are engineered to deliver maximum strength and durability, while helping spread passenger or cargo load more widely and effectively over the vehicle’s chassis. All this, then, contributes to enhanced steering stability, better handling, and improved passenger comfort. According to Gonzalez, the immediate positive impact that a new Tiger leaf spring assembly makes on a vehicle’s suspension system is what sets the brand apart from the competition. He adds, “Our company always strives to meet international manufacturing standards, and it’s good to know that our efforts translate directly into a better, smoother

“NGP’s efforts to energize the local coffee industry complements DA and DAR’s strides to enable our local farmers to turn to high value crops like coffee and eventually remove the need for imported coffee beans, mostly from Indonesia and Vietnam, to meet local demand,” Paje said.

road experience for our clients.” R A IPMC ’s produc t catalog for Tiger includes conventional and parabolic types, and covers all kinds of automotive applications—for cars, buses, shuttles, jeepneys, tricycles, cargo trucks, tankers, mixers, delivery vans, pickups, utility vehicles, and more. By following an ISO 9001:2008-certified quality management system, and by subjecting each Tiger to a series of extensive load, hardness, and durability tests, the company is consistently able to develop OEM-quality leaf springs at a rate of approximately 600 tons per month. Of course, at RAIPMC’s 1,300-sqm. manufacturing plant in Cabuyao Laguna, quality tops quantity at all times. It is this example that Gonzales hopes more car owners will soon follow. “When it comes to leaf springs, or some other priority component of the car,” he says, “don’t go for what’s cheaper. Go for what’s better.” For more de t a i l s about Rober ts Automotive and Industrial Parts Manufacturing Corp. (RAIPMC), visit www.roberts.com.ph.

Paje expressed optimism that the areas identified will have a substantial input to the government’s effort to replace its coffee importation which, in 2010, already stood at 26,600 metric tons per data of the DA-Philippine Agricultural Development and Commercial Corp. (PADCC). (PNA)

or even Vietnam? Why are some investors shying away from the Philippines?” said Ferdi Raquelsantos, MVPMAP president. He said the government has to look into its incentive scheme, the country’s weak demand for vehicles, the high production costs, and the underdeveloped supplier base. “What needs to be done to make local auto parts making and vehicle assembly catch up with our Asian neighbors? These are but just some of the questions that

we hope to see answers to and concrete solutions taken in the next few months if we ever hope to see the industry recover,” he said. “Of course we cannot blame Ford since this was a business decision. But then again, this is definitely a big blow to some 50,000 workers including those in the upstream and downstream industries dependent on the parts making industry. With most of our members’ plants operating at below 50% of their rated plant capacities and the increasing impor-

tation of completely-built units, this would be another obstacle in our attempt to get back on our feet”, he added. Last week, Ford Motor Philippines announced that it will close its plant in Sta. Rosa by the end of this year because of below-par operational efficiency, the low consumer demand resulting in a sales volume not enough to give economies of scale, problems on the availability of some parts locally and the lack of a broad domestic supply base.

LGU...

Aboitiz, AboitizPower president and CEO. Aboitiz Power has already been granted the environmental compliance certificate by the Environment department. The project has also been approved by the Davao City Council. The project, which is projected to be completed in 40 months, aims to address Mindanao’s reliance on hydroelectric power plants for the region’s 24/7 electricity needs, which had been persistently affected by severe weather and reservoir conditions as well as growing demand. Energy Secretary Jose Rene D. Almendras earlier said unless new plants that can take the burden off hydro facilities to run daily are put up, Mindanao’s power supply will continue to be vulnerable to such concerns. Aboitiz Power said on April 26 that it plans to step up its presence in Mindanao with its long term projects. It said it will be investing about P35 billion for new capacities in the region including the Davao coal power plant and three hydroelectric power plants. Aboitiz Power’s net income has so far grown by 10% to P5.6 billion in the first quarter from year-ago levels.

tors in the fourth quarter of 2010, only one project has been awarded, so far: Ayala Corp.’s P1.956-billion Daanghari-Southern Luzon Expressway Link Road. Since the year began, only two other projects have been rolled out by the government: the P10.04-billion school infrastructure project last January and the P60-billion Light Rail Transit Line 1 Cavite extension and O&M just last month. In a separate development, William K. Hotchkiss III, the newly appointed director general of the Civil Aviation Authority of the Philippines, told reporters in a briefing yesterday that the agency started implementing last Friday a system that prevents commercial planes bound for Manila from anywhere in the country from taking off from their airport of origin until they are informed of a slot on the Ninoy Aquino International Airport (NAIA) runway. The purpose of this “coordinated arrival slotting system”, he said, “is to reduce f lights placed on holding patterns by the air traffic control until safe landing spaces are available.” “This would also result in significant savings for airlines because airplanes such as an Airbus A320 burns fuel worth about P7,000 per minute on a holding pattern,” Hotchkiss added. The move, Roxas said in the same briefing, is in line with government efforts to decongest NAIA which has been forced to accommodate “more than 50” take-offs and landings per hour, way above its capacity of 36, resulting in flight delays.—Wire reports

from page 1

power investment in the island region, adding that there are currently 58 service contracts awaiting LGU action. “We are, as a matter of fact, receiving several power project proposals for Mindanao and are fast tracking the approval of these,” Almendras said in the statement. “However, the implementation of these projects is impeded once it reaches the local level. This needs to be addressed first,” the Energy secretary noted. But Mindanao Development Authority chair Luwalhati Antonino is optimistic that local units would be more involved in achieving energy sustainability in the region. Antonino asked energy players in government to maintain transparency in Mindanao’s power demand and supply situation, as well as on financial figures of the region’s Power Sector Assets and Liabilities Management Corp. (PSALM). State-run PSALM is mandated by the Electric Power Reform Industry Act to privatize the National Power Corporation or Napocor. “A lot of doubts in Mindanao have risen, because we are not given enough information by our energy bureaucrac y,” Antonino noted.

Aboitiz... from page 1

started in April this year under a construction contract with First Balfour Inc. Commercial operation of the first 150-MW generating unit is targeted on or before March 31, 2015, with commercial operations of the second unit following three months later. The Therma South power project will generate up to 2,000 direct and indirect jobs during the estimated 37-month construction period. “Anticipating tightness in the power supply in Mindanao, AboitizPower is committed to do what it takes to build the Therma South power project at the soonest possible time. We have been an integral part of the Mindanao power sector since the 1930s. We will continue to invest in power-generation projects to support the growth of Mindanao today and in the future,” said Erramon

BFAR... from page 8

of Necessity in order that the fish may be imported. “They [importers] are to dispose imported fishes to the wet markets and even to supermarkets. As to how they can do this is still being deliberated,” said Perez. The BFAR director could give no definite date as to when these changes in importation rules will be implemented. “We are still consulting with fishermen, vendors, and other stakeholder,” said Perez.

Airport... from page 9

Roxas earlier said the rollout for the $34.9 millionO&M project would take place “by the middle of the year.” Conglomerates Metro Pacific Investments Corp., San Miguel Corp. and Ayala Corp. have previously aired their interest in the project. Since the PPP program was first presented to inves-

New police... from page 9

holding the same rank. Their training will be divided into two (2) phases, the first six (6) months regular classroom instructions at the training school and the last six (6) months field training at the different police stations and offices in northern Mindanao. After the oath-taking ceremony, the recruits were received by police officers from the Regional Public Safety Battalion (RPSB) where they were grouped into five (5) different stations at the parade ground of Camp Alagar to start their physical exercises. They were later on formally turned over to the Director of the Regional Training School-10.


MINDANAO

BusinessWeek Cimagala... from page 6

barrier, cultural and ideological, that removes God in our thinking, judging and reasoning. This unfortunately is quite common, often reinforced by atheistic or agnostic biases, both theoretical and practical, that put the role of God in our lives as not important or practicable, at least. Just look now at some current developments: political leaders trivializing the role of God when they do their oaths of office, a congressman proposing that God and religious images and activities be banned in public places, an RH bill that goes directly against moral doctrine, etc. These are a disturbing trend. When we think, judge and reason out with God, we can tend to see things more clearly and completely. We can tend to approximate the truth, the common good and everything that is proper in our dealings with others. Definitely, thinking with God enables us to go beyond mere knee-jerk reactions and even certain factors and conditionings, personal or cultural, that would make us miss what is proper in a given situation that involves persons and other circumstances. Thinking with God will make us reflective and prudent, and will lead us gradually to the ways of wisdom. Our thoughts and judgments will be more balanced, the elements of truth, justice and charity well blended, able to ride out temporary difficulties. We need to train everyone, starting with the young ones and in the basic things, like always thinking well of the others, learning how to think and even study and consult before we speak and do anything. We have to encourage everyone to develop virtues and to forge a healthy and balanced character. The family, school and church play very important roles in this task. Let’s always strengthen them.

Region. These are in particular the provinces of Lanao del Norte and Misamis Oriental. Lanao del Norte obtained a total of 745,000 domestic travellers. Out of these total travellers, Lanao del Norte acquired a total of 457,000 domestic travelers whose purpose is for pleasure or vacation. On the other hand, Misamis Oriental garnered a total of 806,000 domestic travellers. It received a total of 335,000 domestic travellers whose purpose is for pleasure or vacation. Such findings strengthened the description ascribed to Northern Mindanao as the eco-tourism hub of the Philippines because of its diverse environmental and cultural heritage(http:// dfatip.ph/index.php/whereto-go/southphl/region10). Indeed, the region is proud of its tourist spots which cover the pristine beauty of the paradise island of Camiguin whose coastline alternates between black or white sand beaches and volcanic rocks, Bukidnon’s plateau cut by the deep and wide canyons ,the beautiful twin falls of Maria Cristina Falls of Iligan City, the Dolphin Island in Sinacaban, the famous water rafting in Cagayan de Oro City and the renowned Divine Mercy Shrine of El Salvador City in Misamis Oriental which is only 30 minutes away from Cagayan de Oro City. With such development, Northern Mindanao will have its own contribution to the tourism industry and realization of the statement of the Tourism Secretary Secretary Ramon R. Jimenez, Jr. when he said: “When the industry exceeds expectations as it had done last year, we feel very encouraged. And with the overwhelming response to our new brand campaign

July 6-8, 2012 launched last month, we know that we have broken ground on crowd sourcing. The people’s campaign will help bring more numbers.”

Tambuatco... from page 6

to be applauded for a job well done. The “barbarians at the gate” have forced entry and we are willing subjects for the manipulation for a singly person authority and Indonesia – shame on them. They need to realize one day they will fall prey for these acts of seeming success only for their children and grand children to suffer, unless of course these businessmen, financial wizards and lawyers will leave the country for good to become citizens of some other country. Come to think off it, this may already be the case. Should he be the allpowerful Filipino, it is because the majorities that rule our country have stood by to watch it happen only to rally again and again not knowing what they do (let us not forget the red flags that are waved in rallies forever).

Lanao... from page 2

she said. The carrier also has the option to install Wi-Fi on its fleet of Airbus A320 aircraft for short haul flights, it said. OnAir was incorporated in February 2005 and is owned by SITA, the leading IT solutions provider to the air transport world and Airbus, the leading aircraft manufacturer. Cebu Air, Inc., the carrier’s operator, has so far posted a 20% profit drop in the first quarter from yearago levels. Its net income stood at P962.4 million for January to March compared to P1.2 billion in the same period last year. While the carrier generated revenues of P9.34 billion for the three months, a 24.2% increase from year-ago levels, this was partially offset by the reduction in average fares by 5% to P2,134 from P2,246 in 2011.

tribution utilities and direct users. SB Capital is the whollyowned investment banking arm of Security Bank and is currently one of the most active investment houses in the country. SB Capital provides a wide range of investment banking and financial services which include equity and debt underwriting, loans syndication, private placements, advisory and stock brokering services through wholly-owned stock brokerage subsidiary, SB Equities, Inc.

PLDT... from page 4

by 28% to P30.64 billion from P24 billion in the previous year. The telco is poised to create vot i ng prefer red shares for Filipino investors, allowing the company to cure its foreign equity breach shou ld t he h ig h cou r t a f f i r m it s ea rl ier ruling.

collaboration with line agencies and other sectors of the society. The Line Agencies Day was also busy with people from page 5 interest in the 735 MW seeking free services like in mass registration of live coal-fired Pagbilao power birth, legal assistance, and plant in Pagbilao, Quezon; as from page 8 metric tons (MT) were application of business per- well as a 20% indirect intermit, as well as a medical and est in the 1,251 MW natural so fa r ha r vested ea rlier gas-fired Ilijan power plant this year, benefitting 419 dental mission. The day was capped with located in Ilijan, Batangas. farmers. So far, she said 83 farma concert featuring the Free- A significant portion of Sual style band, and lantern light- and Pagbilao’s capacity is ers in Norala town have from page 2 ing at the Provincial Capitol contracted by the National produced 3,324 MT of palm the principal tax due of Grounds. Power Corporation (NPC). oil out of their plantation about P44.5 million. In addition, TeaM Energy area of 387.83 hectares. The settlement agreement In Tantangan town, 210 also operates an Energy Supalso allows the electric co- from page 4 ply Business group (ESB), farmers engaged in an agroWeb-based solutions that wherein it markets and sells industrial plantation venoperative to pay P1.9 million annually for a 15-year period will further enhance their the excess capacity of Sual ture were able to produce to pay the P28.5-million flying experience with us,” and Pagbilao to various dis- 990 MT of palm oil.(PNA) surcharges and penalties. In an earlier interview, Board Member Ervin Luntao, chairman of the SP’s ways and means committee, said the agreement could help cushion the provincial you LGU from the effects of the have a brilliant idea, 40-percent reduction of the internal revenue allotment you would want to (IRA). use that idea into an This year, over P36 milBusinessWeek advertising tool. Then lion was cut from the prov-

Mezzanine...

Oil palm...

Power...

Cebu Pacific...

Let’s say

you grab the old sketchpad and start doodling, after that you think about making a TV commercial out of that idea. Sometimes, it doesn’t come out like you need it . to.

No Problem

Salvador... from page 6

relatives and attendance to family gatherings with 36.9 percent. The NSO, in another report, said that during that year, 1, 864 establishments or 60.4 percent operated under Activities of Tour and Travel Agencies. The report was lifted from the results of the firstever 2009 Survey of Tourism Establishments in the Philippines (STEP). The survey collected information on the available supply of tourism goods, products and services that are needed in the compilation of the Philippine Tourism Satellite Account (PTSA). As revealed in the findings of the HSDV, two of the most frequently visited places in Mindanao are seen in the Northern Mindanao

ince’s IRA. A notice from the Department of Budget and Management indicated that in 2012 the province’s allotment was reduced to P751 million from P787.8 million in 2011. By the end of this year, the provincial government could collect additional revenue of P22.4 million from Socoteco 1. Meanwhile, Gov. Arthur Y. Pingoy Jr. said residents of province could expect proceeds could mean more services. “Once t he pr i nc ipa l amount is collected, about P10 million will go to the Special Education Fund,” Gov. Pingoy cited. “This could pay for the construction of several classrooms.”

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BusinessWeek

July 6-8, 2012

MINDANAO

PAL to buy 100 planes, offer more int’l flights CEBU CITY -- Philippine Airlines (PAL) plans to acquire 100 more aircraft within the next five years and open additional international routes as part of its aggressive expansion program, a company executive said.

Chris Lebumfacil, PAL passenger sales manager for the Visayas, said this will be in addition to their existing 38 planes, three of which are recently acquired modern Boeing 777-300 units. PAL’s new routes and programs are in support of the growing number of international travelers going to the Philippines, he added. Mr. Lebumfacil gave an update of PAL plans during Thursday’s Tourism Congress 2012 in Cebu organized by the Cebu Chamber of Commerce and Industry. He said PAL has flights to 15 East Asian destinations including Korea, India, Macau, Hong Kong but will be adding 17 more cities to its destinations. He added that it already flies to Beijing, Shanghai, and Xiamen and plans to operate more flights in other cities there. PAL is also expanding its existing itinerary in Australia from the two cities of Sydney and Melbourne to add three more destinations. It will also open flights to New Zealand, he revealed. The airline also serves six cities in North America and Europe. Once the Philippines gets an upgraded safety rating

from the United States, the flag carrier plans to offer flights to Chicago, New York, San Diego, and Seattle in as well as Toronto in Canada in its destinations, Mr. Lebumfacil added. “We’re working hand in hand with different government agencies to get out of that category.

Once this is done, we can add more flights,” he said. According to him, PAL used to have a flight to London and wants to resume this as well as add the cities of Frankfurt, Paris, Rome, and Madrid. “We would like to bring tourists… to visit to the Philippines,” he said.


JULY 6,2012 BUSINESSWEEK MINDANAO