RURAL TRANSIT BACHELOR EXPRESS
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www.businessweekmindanao.com Issue No. 82, Volume III • June 18-21, 2012
Market Indicators FOREX
PHISIX 4,930.63 points
By LYNDA B. VALENCIA
PEARL Farm Beach Resort which lies in a secluded cove on palm-fringed Samal Island (now known as the Island Garden City of Samal) off the
; Briefly 31 cents
Pearl Farm: Southern Mindanao’s jewel
AS OF 5:55 P.M., JUNE 15, 2012 (Friday)
US$1 = P42.26
Editorial: 088-856-3344 • Advertising: 0917-7121424
coast of Davao City, is one of the country’s up market resorts today. The 11-hectare Pearl Farm Beach Resort was once a pearl farm in 1958, the Aguinaldo PEARL/PAGE 15
FRANCHISING is growing in Mindanao and any one curious if they could expand their business through that form of business settings can learn more about by visiting WOFEX in Cagayan de Oro at Lim Ket Kai Atrium from June 20 to 23, 2012 and pass by the booth of RK Franchise Consultancy. Rudolf Kotik, the expert in global Franchising with more than 34 years of experience in the field of Franchising, who developed more than 440 Filipino Companies into Franchise Systems is giving a free seminar “All about Franchising” on Friday, June 22 at 4 pm Lim Ket Kai Center.
By IRENE DOMINGO, Reporter
STARTING July, the Department of Trade and Industry (DTI) will ban the imposition of expiry dates on gift checks issued by commercial establishments, Trade Undersecretary Zenaida Maglaya said. “Commencing July 1, 2012, it shall be prohibited for any supplier to issue and/or sell gift certificate/check/card that contains an expiry date. All gift checks/certificates/cards with no expiry dates shall be redeemable until used up by the bearer,” the DTI states in Administrative Order No 10-04 that was signed on June 25, 2010.
Rural banks cited
MINDANAO rural banks pulled off an impressive performance in terms of earnings, number of borrowers, and deposits in 2011, based on the Rural Banks Association of the Philippines – Microenterprise Access to Banking Services (RBAP-MABS) reports. Results were based on the EAGLE (Efficiency, Asset Quality, Growth, Liability Structure, and Earnings) assessment results, which were presented recently during the 2012 RBAP-MABS National Roundtable Conference and 15th Anniversary Celebration held in Manila.
M I N DA NAO - w i d e campaign to gather 1 million signatures and collect about P1 billion pledges to buy the Agus-Pulangui hydro power complexes has begun.
The movement called Pipol’s Power has expressed confidence that once their goals are achieved they can dissuade President Benigno Aquino III from pursuing the privatization of AgusPulangui plants in Central Mindanao. Pipol’s Power convenor Irene Santiago, also head of the Mindanao Commission on Women, said the signatures would be presented to Congress shortly before it convenes in July for the yearly Cagayan de Oro Mayor Vicente Y. Emano and daughter Councilor Nadya Emano-Elipe cut the cer- State of the Nation Address of President emonial ribbon to open the 2-day Mega Job Fair at the city hall as part of the city’s 62nd charter day Benigno Aquino III. The pledges, all in written form, celebration. Some 11,350 vacant local and overseas jobs were offered during the event. PHOTO BY GERRY L . GORIT PLANTS/PAGE 14
Emano: CdO is bouncing back CAGAYAN de Oro City Mayor Vicente Y. Emano claimed the city is “bouncing back” [economically] from devastation brought about by typhoon Sendong in
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!
RICKY REYES & DAVID’S SALON Makati City
December last year. to the city after the tragedy, During the Mega Job Fair at which means more employment the City Hall last week, Emano opportunities for city residents. said he is thankful for the conThe job fair is a partnership tinued pouring of investments EMANO/PAGE 15
Banana exporters forced to sell fruit at low prices By MELANIE RIVERA, Staff Member
THE Philippine Banana Growers and Exporters Association said that they continue to suffer under China’s stringent inspection protocols as their fruit continues to
be rejected by the Chinese after which the growers have no other choice but sell their fruit to other countries at rock-bottom prices. The Association’s Spokesperson Steve Antig said in a phone BANANA/PAGE 15
Former Las Piñas Rep. Cynthia Villar is welcomed as guest of honor by Cagagayan de Oro Mayor Vicente Y. Emano to the city’s 62nd charter day celebration on June 15. With them are city prosecutor Fidel Macauyag, and National Commission on Muslim Filipinos regional director Atty. Ogie Gadamra. PHOTO BY GERRY L . GORIT
June 18-21, 2012
Mining an issue of social justice: Binay By CARINA L CAYON, Contributor
DAVAO City -- Vice President Jejomar C. Binay said communities that host mining operations should be the first ones to benefit from the economic gains from the mining industry.
“Mining goes beyond economic considerations. It is above all, a social justice issue. Communities that host mining operations should be granted opportunities like education, health care, clean water, and power as a bare minimum,” Binay said in a speech at the
Philippine Society of Mining Engineers’ 2nd Mining Convention in Davao City last week. “The social and human profits emanating from mining should merit honest and profound focus. Minerals are non-renewable and once they are utilized, they will not grow back. It is therefore important that the gains from this enterprise bring financial strength to the true owners of this wealth – the people,” he added. The Vice President also cited mining’s economic potential saying the Philippines has about 9 million hectares of potential mining land with only 1.4 million hectares being covered by mining permits. “We have billions of tons
of metallic and non-metallic mineral deposits buried within our soil,” Binay said. “This is the strange contradiction that we live in, so many look for food and decent living above ground, while so much wealth lies literally beneath our feet,” he added. However, Binay also acknowledged the impact of mining to the environment. He urged industry stakeholders to apply every measure and technology to ensure that the impact on the environment is managed and that proper rehabilitation is undertaken. “Exceeding the bar of our desire to protect and preserve the earth we live in, is our duty to use its resources wisely and prudently for the benefit of all,” Binay said. “We cannot forever look at these riches as taboo and refuse to touch them, but neither can be we wasteful and careless in its consump-
tion,” he added. Binay also said that he stands “shoulder to shoulder” with President Benigno Aquino III in believing that a multipartite approach can find sustainable and environmentally-sound mining principles that will help the mining industry fulfill its true role in the economic development of the country. He added that at the moment, the government is currently drafting a mining policy statement that seeks to increase the government’s share in mining revenues. “I would like to reiterate that this policy statement, as President Benigno Aquino III himself has said, is still a work in progress. Our beloved President has assured us that discussions with the various entities that are very much concerned with mining in our country—including ecological groups, the mining groups, and local government units—will still have to be made,” Binay said.
Davao Norte pushes green economy By BEN D. ARCHE Correspondent
TAGUM City – The provincial government of Davao del Norte will be beefing up its forest ecosystem by planting more productive trees in the province. The Provincial Environment and Natural Resources Office (PENRO) has been tasked to lead the re-greening efforts as the province is turning into greener economy to ensure sustainable economic growth. Under the project, the province will boost its forest areas by planting productive trees which include fruit trees, rubber, coffee, palm
oil, and other fruit-bearing trees. Governor Rodolfo P. Del Rosario said that aside from earning additional income from tree crops, it is also a better way to fight deforestation and soil erosion. The province will take Hugpong Kinaiyahan, Inc., an umbrella organization of the associations of tree planters, producers and processors in Davao del Norte as its partner in the implementation of the program. With the fresh allotment of least P1.3 million, the development of some 55 hectares to rubber tree plantation is in the offing
which would benefit upland tree farmers in four municipalities of the province. Last year, there were more than 7,500 seedlings of durian, lanzones, mangosteen, rambutan, cacao and coffee planted to almost 28.5 hectares in the towns of Kapalong, Talaingod, New Corella and San Isidro, all of the province. The provincial government also provided about 12,500 rubber seedlings and planted within the 25-hectare forest lands in three municipalities of the province. Aside from banana plantations, palm oil plantations are also fast expanding in Davao province.
1st banana harvest festival held COTABATO City -- The first banana harvest festival was held on June 7 in Ampatuan, Maguindanao. The festival was held in a 35-hectare planation of the “Lakatan” variety of
the EKA Salam Farmers Multipurpose Cooperative in Sitio Sabaduan, Kauran in Ampatuan. The Department of Agriculture (DA) initiated the festival, through the High
Value Crops Development Program (HVCDP), one of the banner programs of the agriculture department encouraging farmers to engage in the production of high yielding variety of crops such as mango, durian, coconut and banana as a source of livelihood. National Program Coordinator Jennifer Remoquillo emphasized that huge income is generated in planting bananas. She cited HVCDP’s support to farmers’ associations in terms of irrigation, provision of quality planting materials, training on proper product packaging and in market matching or identification of potential buyers. According to EKA Salam Multipurpose Cooperative chair Ebrahim Adam, 2,500 banana trees are planted per hectare with the yield of 45 tons per hectare in about six to nine months after planting, generating a weekly net income of P145,000, attesting huge income they derived from HARVEST/PAGE 10
Dutch firm ups stake in Alaska Milk DUTCH DAIRY firm Royal FrieslandCampina N.V. has completed its tender offer for the remaining shares in Alaska Milk Corp., raising its stake to 97.7%, a disclosure showed on Friday. “[On Thursday] FrieslandCampina successfully closed its tender offer for the shares of Alaska Milk in the Philippines,” the disclosure read. The tender offer--which covered some 278.79 million Alaska Milk shares and up to 237,000 common shares that may be issued pursuant to Alaska Milk’s Executive Employee Stock Option Plan--ran from May 24 to June 6. This was triggered after FrieslandCampina last March moved to buy 535.7 million shares held by the Uytengsu family for P24
apiece, raising the Dutch firm’s stake then in Alaska Milk to 68.9% from a previous 8.1%. Alaska Milk then subjected the remainder of its shares-equivalent to 31.48% of its total outstanding capital stock-to a tender offer following FrieslandCampina’s March purchase. Moving forward, Alaska Milk plans to exit from the Philippine Stock Exchange by the third quarter, as it will fall below the 10% minimum public float level following the tender offer. In addition, the company said it will already boast of a
2GO Express’ new promo 2GO Express launches its nationwide promo entitled “2GO Express Padala Center, Magpadala at Manalo” which runs from June 1 to August 1, 2012. The promo is for all 2GO Express customers who will avail of 2GO Express’ services via the 432 participating Universal Storefront Services Corporation (USSC) outlets all over the country. For as low as P450 worth of transaction/s, customers availing any of 2GO Express Quikpak, Quikbox, and international mail and parcel services are entitled to get prizes such as Myphone QW19i, MyPhone TW1 Duo and Jollibee gift certificates.
strengthened cash position moving forward, which will forego the need for further fundraising via the equities market. Alaska Milk, which is best known for its evaporated milk and sweetened condensed milk products, was incorporated in 1994 and presently has a market capitalization of P20.90 billion. For 2012, the company expects to invest roughly P500 million for the upgrade and maintenance of existing manufacturing facilities and for other production capacity-increasing projects, and introduce three new products in various categories. It is also looking to post “improved” results versus 2011 levels, when it incurred a 39% drop in its full-year net income to P1.10 billion as higher production input costs shrunk the company’s net sales. Alaska Milk earned P362.58 million in total comprehensive income in the first quarter, up 43.72% from P252.28 million in year-ago levels, while net sales expanded by 53.39% to P3.39 billion versus P2.21 billion, year on year. Sales costs, meanwhile, grew by 53.25% to P2.36 billion from P1.54 billion last year, attributed to the company’s higher sales volume and rising skimmed milk powder costs.
June 18-21, 2012
June 18-21, 2012
starts payout Samsung launches Smart PDIC of ExportBank deposit TV Roster in Cag. De Oro claims on June 19 SAMSUNG Electronics Philippines Corporation (SEPCO) a leader in digital media and digital convergence technologies has brought its Smart TV lineup to Cagayan De Oro for its third leg of the Smart TV nationwide launch. The unveiling which was held at the Grand Caprice Limketkai, featured its newest home entertainment products for 2012. Samsung’s TV product offerings for this year are built on three market-revolutionizing pillars: Smart Interaction, Smart Content, and Smart Evolution. Smart Interaction Samsung’s Smart Interaction technology provides Smart TV users with a new, more natural and intuitive option for controlling and interacting with the TV—breaking the physical boundaries between the consumer and screen. Samsung’s new Motion Control, Voice Control, and Face Recognition commands advance user experience in a competitive TV market that values ease, convenience and choice. Users can turn the TV on or off, activate selected apps or search for and select content in the web browser—all without
touching the remote. Smart Interaction is available on the company’s 2012 flagship Smart TVs including the LED ES8000 series, the LED ES7500 series and the Plasma E8000 series, and features a built-in camera that recognizes movement in the foreground, as well as two microphones to recognize voice. Smart Content As the Smart TV platform of choice, Samsung provides consumers access to the widest variety of premium content available, with over 1,500 apps offered worldwide. In 2012, Samsung is taking content one step further and evolving the way consumers discover and access apps—through a new
Smart Hub that features a simpler, more personable UI in Full HD. Samsung’s Smart TVs also provide a much faster Smart TV experience powered by a new dual-core processor. Samsung also showcased its commitment to convergence and content accessibility through AllShare Play, the essential tie between Samsung’s products, content and services. This Smart TV service allows content to be pushed or pulled—regardless of the user’s location—from device to device, and device to cloud for limitless sharing. AllShare Play enables consumers to push content manually to the cloud or pull the content directly from their Smart TV or other mobile devices.
Further, Samsung has strengthened its Smart TV content experience through the introduction of new exclusive services. The firstof-their kind services allow for easier content sharing among families across TVs and a number of connected personal devices. • Family Story allows consumers to stay connected with their families and share photos and calendars through the Samsung Cloud service. • Fitness allows consumers to access exercise content and track progress both on the TV and on the go. • Kids offers a wealth of kid-friendly content that kids can access and parents can control and monitor. Smart Evolution Finally, Samsung’s Evolution Kit—an industry first—will allow consumers to easily and cost-effectively enjoy the latest technology services on their TV. With a simple slot-in at the back of select 2012 Samsung Smart TV models, consumers can keep pace with rapid advancements in both TV hardware and software— without needing to purchase a new set every year. Users can now keep their Smart SAMSUNGPAGE 10
STATE-run Philippine Deposit Insurance Corp. on Friday said it will begin paying insurance claims of Export and Industry Bank depositors on June 19. In a statement, PDIC said the payouts will be done in three batches, starting with the ExportBank head office and 12 branches, namely Bel-Air, Pasay Road, Rufino, Acropolis, Cubao-P. Tuazon, Binan-Carmona, Calamba, Angeles, Baguio City, Dagupan, Cabanatuan and Mabalacat. Starting June 29, PDIC will pay depositors belonging to the following 12 branches: The Fort, Boni, Bacolod City, Cagayan de Oro, Cebu Plaridel, Cebu IT Park, Cebu Business Park, Davao Jacinto, Davao Recto, Iloilo, Imus and San Pedro. The third batch would be issued payments starting July 11 and will include the following branches: Annapolis-Greenhils, GreenhillsOrtigas, Ayala Alabang, Las Piñas, Banawe, Del Monte, E. Rodriguez, Roosevelt, Timog, Binondo, Juna Luna, Masangkay, Sto. Cristo, Tutuban, UN Avenue, BF Homes, NAIA, Emerald Avenue, San Miguel Avenue, Kalookan, LRT Monumento, Valenzuela, Malabon, Navotas and H.V. Dela Costa.
PDIC s aid pr ior ity numbers would be given to depositors starting June 18 for the first batch; June 28, second batch; and July 10, third batch. The priority number pertains to a specific appointment date when PDIC representatives will service the claims of depositors. This schedule will also be posted in the bank’s premises and at the PDIC website, www.pdic.gov.ph. ExportBank depositors with only one ATM account need only secure a printout of the ATM balance confirmation receipt from designated ATM sites. Depositors would have to present their ATM card, printout of the balance confirmation receipt and a valid ID before they can claim their priority number. Depositors who fail to file their insurance claims onsite can do so starting August 9 through mail or in person at the 4th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino St., Makati City, Monday to Friday, from 8:00 a.m. to 5:00 p.m. Depositors have until April 28, 2014 to file their claims, after which PDIC will no longer accept any claim for insured deposits.
June 18-21, 2012
ONB CENTER INAUGURATED
One Network Bank, the widest and most modern rural banking network in the country today, further raises the bar for rural banking as it inaugurated its multi-storey corporate structure last May 21, 2012. Dubbed as the ONB Center, the P117.4 million worth edifice with 9,670 square meters of space is the new home of ONB Head Office staff of more than 300 professionals. ONB Center now counts among the major landmarks of Davao City. In a momentous event, a gathering of 16 bishops and 9 priests joined the stockholders, officers and staff of ONB in the inaugural rites of the 7-storey ONB Center last Monday, May 21. Davao Archbishop Fernando R. Capalla officiated the blessing rites which started at 10am. He was assisted by Archbishop Romulo Valles, Bishop Romulo Dela Cruz, Bishop Juan de Dios Pueblos, Fr. Jess Esparagoza, Fr. Gus Nazareno, Fr. Mervin Maglana, Fr. Reiner Franke, Fr. Alfredo Palomar and Msgr. Julius Rodulfa. After the blessing rites, a Thanksgiving Mass was concelebrated with more bishops and priests, namely: Archbishop Angel Lagdameo, Archbishop Orlando Quevedo, Archbishop Antonio Ledesma, Bishop Patricio Alo, Bishop Wilfredo Manlapaz, Bishop Dinualdo Gutierrez, Bishop Emmanuel Cabajar, Bishop Julius Tonel, Bishop Antonieto Cabajog, Bishop Jose Romeo Lazo, Bishop Antonio P. Palang, Auxiliary Bishop George Rimando, Fr. Ritsche Gamaya, Fr. Junar dela Victoria and Msgr. Paul Cuison. The inauguration of the ONB Center was graced by special guests Mrs. Fredesvinda A. Consunji, Mrs. Josefa Consunji-Reyes, BSP Davao Regional Office Director Atty. Demetrio Casipong and Davao City Councilor April Marie Dayap. Also present in the event were ONB’s Board of Directors, led by Chairman Victor A. Consunji and President Alex V. Buenaventura. ONB Center located along Km. 9, Sasa, Davao City was constructed by DMCI, recognized as the prime “Builder of Landmarks” in the country and a pioneer of advanced engineering technology application
ONE NETWORK BANK A Rural Bank www.onenetworkbank.com.ph
in Philippine construction. The building is rendered in a modern design and places a premium on efficient energy use. As a primary undertaking towards streamlining the Bank’s branch support system and increasing back office efficiency, the ONB Center is a dedicated space for backstopping all of One Network Bank’s branch and offsite operations. It substantially enhances the workspace of the head office units of the Bank with its spacious, comfortable and multi-functional features complete with state-of-the-art training facilities and a roof deck with a chapel, a fitness gym and a basketball/badminton court. Shortly after establishing its presence in the Visayas through a partnership agreement with Rural Bank of San Enrique in Iloilo last April 21, 2012, ONB continued its expansion mode meant to deliver modern banking services in the countryside. The bank inaugurated three (3) more branches in Butuan City, Balingasag, Misamis Oriental and Sangali, Zamboanga City last April 25-27, 2012, increasing its total branch count to 86. The bank also inaugurated its newly renovated Compostela branch last April 25, 2012. With the inauguration of ONB Center, ONB strengthens its pursuit of being the prime provider of modern banking services to progressive communities. ONB continues to redefine rural banking, providing countryside clients with cost efficient and hassle-free transactions. Today, the bank operates with 85 branches in Mindanao, 1 branch in Makati and a fleet of 121 ATMs. For the second quarter of 2012, the bank is set to deploy 10 more PeraAgad ATMs and open 5 Micro Banking Offices (MBOs) in growth centers within the Davao City area.
The Widest and Most Modern Banking Network in Countryside Mindanao with 86* branches and 119* PeraAgad ATMs *as of May 2012
6 The All-New BMW 3 Series: The Ultimate Sport Sedan June 18-21, 2012
Where Performance and Luxury blend with Modern styling as a quintessential BMW, it is without doubt the BMW 3 Series. The 3 Series is everything a sports sedan should be, and for years it has stood undisputed at the summit of the premium mid-size segment,” said Maricar Parco, ACC President. “Since it made its debut in 1975, more than 12 million customers around the world have taken ownership of a benchmarks in terms of BMW 3 Series. Backed up sporting prowess, elegance with its impressive heritage, innovations, aesthetics and and comfort. “If there is such a thing driving dynamics, we are
ASIAN Carmakers Corporation (ACC), the official importer of BMW cars in the Philippines, announced today the official launch of the All-New BMW 3 Series which will be available in two variants: the 328i, featuring a new four-cylinder gasoline engine with TwinPower Turbo technology that sets a new benchmark for driving dynamics and fuel efficiency, and the 320d, known for its high-performance and having one of the world’s cleanest and most economical diesel engines. The sixth generation of the BMW 3 Series, the world’s best-selling premium car sedan, sets new
confident that the Filipino market will greatly welcome the All-New BMW 3 Series just like its predecessors.” BMW 3 Series Heritage: Thirty Five Years Strong Globally Globally, the BMW 3 Series has been around for thirty five years, defining the premium compact segment in its time. In the Philippines, it was first introduced in 1993 and has since commanded the biggest volume of all BMW models sold in the country. It has also The 2012 BMW 3-Series
CDO MAG TO SHOWCASE PRIMEMOVERS OF MINDANAO ECONOMY
The BWM Magazine is glossy from cover-to-cover and will come out monthly. It is a special publication which features articles promoting business establishments engaged in every facet of business, pleasure and entertainment. It will also feature prominent personalities in The idea is to create a local-based business, tourism, sports, politics and business magazine, a magazine that will governance. feature businesses and business owners a top quality advertising and marketing medium directly to their intended clients, providing them a stress-free advertising avenue. As BusinessWeek Mindanao celebrates its 3rd anniversary, the inception of the magazine now becomes
The first magazine of its kind will certainly bring in a better view of Cagayan de Oro business and business community as well as promote the region in terms of economic growth and business sensibility.
a reality – the BWM Magazine. BWM is a monthly magazine that gives you an avenue to increase your visibility and client-base. Targeting the class A & B clients suited for your kind of market. BWM Magazine will circulate Mindanao-wide as this is backed by BusinessWeek Mindanao’s distribution bureaus in the island. BWM also maximizes advertisers’ visibility through www.businessweekmindanao.com where an e-mag in PDF file format is downloadable free and readable online by our partners and international readers throughout the world.
For inquiries and advertising placements please call the following office numbers 74-53-80, 857-8447 or mobile numbers 0927-337-3917 and 0922-538-4939. Visit us at BusinessWeek Mindanao located at Abellanosa St. Cagayan de Oro City Email us at email@example.com
become the best-selling premium vehicle in the market for many years. In the early days, just as with the latest-generation model, the BMW 3 Series concept was unique: a compact body with an elegant design, powerful, modern engines, a classic rear wheeldrive set-up and sporty suspension tuning. Out of the mixing pot came a car with unrivalled driving dynamics and agility. BMW soon showed it had a finely-honed sense for the zeitgeist – and was wired up to the individual preferences of potential customers as well. The result has been a succession of innovative body concepts and technical developments. Here again, the BMW 3 Series sets the benchmark in the sporty mid-size class of which it was a founding father. The systems produced as part of the BMW EfficientDynamics development strategy, which have given the BMW 3 Series the lowest fuel consumption and emissions in its class, are a fine example of this pioneering role. Following over time in the tire tracks of the Sedan – the best-selling model variant worldwide – have been the BMW 3 Series Convertible, BMW 3 Series Touring, BMW 3 Series Coupé and BMW 3 Series Compact. Alongside the mainstream models, the brand also developed the BMW M3 high-performance sports sedan. The success story of the world’s bestselling premium car began 36 years ago with a two-door model. Three equipment lines
shine the spotlight on the car’s distinct character traits: Sport Line, Luxury Line and Modern Line The Sport Line, Luxury Line and Modern Line equipment variants accentuate the different sides to the new BMW 3 Series Sedan’s character in their own individual ways. The exclusive, carefully coordinated equipment features embrace both exterior design elements and the selection of materials and colors for each model. In terms of value, design coherence and expressiveness, the new BMW Lines go far beyond existing packages in the premium class. The 320d will come in three different lines – the Sport Line, Luxury Line and Modern Line, while the top of the line 328i will solely come in Sport Line. The BMW 328i and BMW 320d Sport Line comes with eye-catching exterior features in highgloss black, accentuating the dynamic appearance of the BMW 3 Series Sedan. Eight heavily contoured black kidney grille slats in a chrome-colored surround give the front end of the car a particularly sporty and alert look. The black inserts in the front apron make the air intakes appear larger and lend extra stress to the muscular wheel arches. 17 or 18-inch light-alloy wheels – depending on the engine variant – in double-spoke design provide the athletic looks to match. Meanwhile, optional high-gloss black painted exterior mirrors and the standard high-gloss black B-pillar and window guide BMW/PAGE 10
June 18-21, 2012
June 18-21, 2012
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While we are inutile towards the machineries for the election, we at the very least can address the second most important issue. And this is voter’s education – to inform, to generate an awareness and to convince the populace that vote buying must be deemed criminal. To the masses that feel it is hopeless having stayed poor for decades, they rationalize their misdemeanor by selling their votes. To begin with, is vote selling a misdemeanor or a crime? It should be the latter but this exercise in democracy surely cannot turn criminal. Now if only there were strategies to reduce if not eradicate vote buying, we would be well on our way. But before the solution what of the candidates who do the buying. First of all the playing field is never level with the rich versus the poor when it comes to candidates who aspire positions. The rich can buy electronic media and print and disguise these with creative accounting and audit. While it limits candidates on the spending attitudes, many new candidates who wish to make a difference are pushed to
How to Debate with Your Mate THINK a minute… A wise marriage counselor asks every couple wanting to get married if they have had a real argument yet. Often they answer: “Oh, no! We love each other. We never fight!” This marriage counselor tells every couple to fight first before they get married. He says that when couples disagree, they must learn to listen and understand each other’s feelings so they can solve their differences and forgive each other each time they disagree. A very important skill in building a happy marriage and life together is learning how to debate with your mate. But there are rules you must follow to have a fair, good debate, so you will still
be close friends afterwards. First, before you start, both of you should agree to stick only to that issue. Don’t bring up past problems and hurts. Second, remember that your goal is not to win the argument, but to understand each other’s feelings. In other words, TUNE IN. Really listen to what each other is thinking and feeling. Try to understand how you are causing them to feel hurt or wronged. Put yourself in their place and see things from their side. Remember, feelings are not right or wrong, but they are very real to your mate. So how your wife or husband feels should be important to you. Third, never argue and
talk about personal, private matters in front of other people. Number four, stop the fight if either of you loses control of your anger or words. And the final rule on how to debate with your mate is TONE DOWN. This means we must try to stay calm, kind and gentle. They say that 90% of the tension and anger in families is caused by the wrong tone of voice. Many times it’s not what we say, but how we say it. What we say may be right, but how we say it is wrong. We need to kindly and gently say how we feel without attacking and hurting each other with our words. In just one moment, our hurtful words can do years of damage.
Recapturing the Cinema Movies THE CINEMA industry seems to lie low since the age of digitals and videos killed the major stars from their bombed out film showing with less public patronage and attendance. Since then, film piracy and the CD industry has also sliced the market and movie houses without allied business support and synergy of shops and services were left out and were forced to closed shop. The demand of going to old and cramped up movie houses became less option with cinema patrons haunted with fear and discomfort. Former movie houses in the city were long converted to ware houses or a Christian place of worship? With the opening of new
The elections are upon us once again AND as expected the Comelec is running out of time to organize themselves. This may not be directly their fault nevertheless it seems it’s the same old story, election after election - doesn’t it? Now it’s the PCOS machines that got the nod from the Supreme Court to utilize the Smartmatic phenomena. Interestingly enough we simpletons have turned cynical to the issues that besiege them. At this point a voter’s registration are ongoing at the ARMM known for its ghost voters list. No less the PPCRV has flown down to the areas concerned to check on this 10-day process registering a list of voters. Local government I am certain is busy elsewhere all considering. The election process is the pillar towards good representation but the system has continued to fail the Filipino people. There are more doubts and raised eyebrows over the integrity of no less the Comelec. Now that Smartmatic is in the picture once again, it will only corrode the criticisms for a clean election. Isn’t Smartmatic the synonym for magic?
HARRY TAMBUATCO the side without even the means to campaign under the maximum tolerance for campaign spending. What if we could curb all this and do away with these methods? Imagine an election where the rich candidates can expel their funds but to spend directly on the people and have projects above ground. For example to become popular, the rich candidate can build a school and garner the local votes. The rich can simply donate these expenses towards an investment to win his seat. What if media be leveled by providing time to all candidates approved by the Comelec rather that TAMBUATCO/PAGE 10
high end malls and modern shopping complex, cinema which is a mature and wide market are now enjoying tremendous growth with the introduction of new technologies from multiplexes to 3-Ds’ screens and Sensorounds. To encourage customers to patronize theatres over their home entertainment systems, cinema’s business plans were incorporated in many Mall marketing concepts that emphasized on selecting block booster movies produced by Hollywood Film Studios with proven worldwide movie receipts. Filipino movies did not die down with the demise of the great Fernando Poe Jr., or the absence of a Dol-
phy comedy film. It has continued to progress with new story lines and human interest. But the bankability of the stars to sell a movie become part of the equation in booking a movie schedule in the theatre. It does not really matter even with instant stars being discovered with new locale for locations featured on the screen. A locally produced movie may generate pride and honor for the people of the Bicol region to see the magnificent beaches and coves of the Caramoan Islands in Camarines Sur. Movie viewers from Northern Mindanao might be amused and would relate to the movie story if the White Island of Camiguin is featured in a film. Or the
THINK A MINUTE
JHAN TIAFAU HURST
So why not ask Jesus Christ to take charge of your heart and marriage? He will help you start communicating with your mate both honestly and kindly. Then you will both win each debate, and only become happier, better friends. Just think a minute…
TRAVERSING THE TOURISM HI-WAY
PED T. QUIAMJOT feeling of high adrenalin souring as movie goers follow the Dahilayan Zip lines ride of a Sam Milby or a KC Concepcion. A Mall Business Development Manager has asked me once for unsolicited views about the Cinema industry in Cagayan de Oro compared to the industry where it has been QUIAMJOT/PAGE 10
Philippine banking history (Part III) FOR the last two weeks, we have been examining the history of banking in the Philippines. In this article, we will focus on the development of financial and legal reforms in the country. The Bangko Sentral ng Pilipinas’ “The General Banking Law Annotated: Book 2” identified the year 1949 as “a turning point in the monetary history of the Philippines” It marked the beginning of the country’s “post-independence monetary history” with the 1948 enactment of the Charter of the Central Bank of the Philippines— setting into motion the operation of the country’s monetary authority. It would also be important to note that the General Banking Act (GBA) became effective on the same day that the Central Bank started its operations on January 3, 1949. For the first time, explicit rules and regulations governing bank organization and operations were laid down. The GBA prescribed rules covering the establish-
ment of domestic banks, the licensing of foreign banks, and the powers of banking institutions, branches and agencies of foreign banks. Another major banking statute, the Rural Banks Act, was enacted in 1952. Two years later, the Agricultural and Industrial Bank merged with the Reconstruction and Rehabilitation Fund to form the Development Bank of the Philippines (DBP). During this period, the Central Bank was actively engaged in the establishment of development banks. It also provided rural banks with 100% counterpart financing for equity and access to rediscounting facility at highly subsidized terms. Another major piece of legislation enacted under the Philippine Republic was the Law on Secrecy of Bank Deposits, which discouraged private hoarding by encouraging the public to deposit their money in banking institutions. By the 1960s, the ability of banks to mobilize funds via deposit accounts was constrained primarily by relatively low yields of these instruments. This was because of regulations
IGNACIO BUNYE imposed upon traditional deposit accounts, including the reserve requirement, ceilings on interest rates, and taxes. In response to the growing corporate demand for funds, a small number of non-bank financial institutions started trading shortterm instruments of banks. The banks followed suit by issuing unregulated shortdated instruments such as repurchase agreements, certificates of assignment, certificates of participation, and dealer promissory notes—collectively known as deposit substitutes. It was during this time that the trust fund management services were first ofBUNYE/PAGE 10
June 18-21, 2012
June 18-21, 2012
BMW... from page 6
add an extra sporting flavor to the flanks. A black trim strip on the lower crease underlines the width-enhancing effect of the rear styling, while the tailpipe embellisher is likewise black and rounds off the exterior’s sporty appearance. The sporty and exclusive ambience of the interior is expressed by contrasting black and red accents. The standard sports seats can be specified in a choice of three upholstery variants and four colors. The discreet high-gloss chrome elements of the BMW 320d Luxury Line lend the exterior of the BMW 3 Series Sedan a
Harvest... from page 2
banana production. Remoquillo said, EKA Salam will now serve as DA’s partner in the advancement of HVCDP adding the potential of Ampatuan town to become
CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers – Kalambagohan Sts., 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 AƩy. 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) 231-6739a
particularly elegant and exclusive appeal. The BMW kidney grille with 11 fine chrome slats, two slightly offset chrome trim strips in the front apron air intakes, and a high-gloss chrome trim strip running horizontally above the air scoop give the front end a striking appearance. As with the Sport Line, the B-pillar and window guide come in highgloss black, and the window frame and weather strip are in chrome. Special 17-inch light-alloy wheels in multispoke design accentuate the stylishness of the new BMW 3 Series Sedan when viewed side-on. From the rear, the new Luxury Line is easily identified by its exquisite, high-gloss chrome trim strip – which extends
across the full width of the rear apron – and its chrome tailpipe embellisher. Highgloss wood strips and seats with distinctive stitching and a choice of two upholstery materials in four classically elegant colors highlight an inviting, exclusive ambience. High-class trim elements included in the BMW 320d Modern Line versions of the new BMW 3 Series Sedan are all in satinated aluminum, underlining the contemporary character of this line. The BMW kidney grille, with 11 satinated aluminum slats, and double trim strips for the air intakes in the same color give the front end of the new BMW 3 Series Sedan a particularly contemporary, classy
one of the areas with wide and productive banana plantation in Maguindanao. Citing the need for c o op e r at i on and h ard work coupled with perseverance, she encouraged other farmers to unite and organize themselves into a cooperative, study and decide on a livelihood endeavor they agree to venture with the support of concerned agencies of the government. Meanwhile, responding to the calls of agriculture officials in the Autonomous Region in Muslim Mindanao (ARMM), the more than 80 farmer-members of EKA Salam agreed
to share their experiences and transfer the acquired knowledge and technology to other willing and interested farmers. The attendance of DAARMM officials led by Director for Field Operations Kalunsiang Dimalen, Maguindanao Provincial Agricultural Officer Salik Panalunsong, as well as P4MP Regional President Datu Yamashita Mangcop representing governor Toto Mangundadatu, municipal councilor Datu Penz Magelna, some media, EKA Salamam Farmers Multipurpose Cooperative and residents in the community ensured a successful harvest festival.
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touch. The car’s high-gloss black B-pillar and window guide blend smoothly with the satinated aluminum trim elements at the front and rear. 17- inch turbinestyle light-alloy wheels strengthen the impression of this equipment line. The harmonious lightness of the interior dispenses with strong contrasts.
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made by famous screen Directors, the like of Steven Spielberg, Clint Eastwood and many other Americans and European film makers whose movies made money worldwide. There are also good movies in the box office with Aie Aie de las Alas as the star. Perhaps other options for growth in the Cinema business can be explored, like building loyalty patronage among consumers through the issuance of VIP Cards to regular Patrons or accepting on-line or call in seats reservations for scheduled screenings can be tried? My thoughts were just parallel in the hotel business, where reservations are sourced and monitored from known or contracted booking agent. Selling movie screening to company sponsors to maximize
ticket sales is also a good marketing strategy in the cinema. Everybody would love to watch a movie if the patrons belongs to a community or a group. Cinemas are good medium for advertising products and events through the screens in a 20 or 30 seconds plug-in. Other revenues can be generated through paid advertisements from multinational consumer goods and Conventions and Events scheduled in the host city. But the most important really is the cleanliness and sanitation of the theatres plus the availability of inhouse perimeter stands or booths for finger foods, like Quick Sandwiches, Popcorns, Nuts and Drinks or the famous Sler’s Chicharon to dip if the whole family is watching the screening.
exchange regulations. In 1971, the Joint International Monetary Fund– Central Bank of the Philippines Banking Survey Commission was created. The Commission studied the banking system and proposed several measures that resulted in the promulgation of Presidential Decree Nos. 71 (amending the General Banking Act) and 72 (amending the Central Bank Act). In the 1980s, the Central Bank issued rules creating investment management accounts that did not qualify as trust accounts. The new regulation encouraged the trust department to introduce a new financial product called the common trust fund.
It was in this decade that universal banking was introduced in the country. This system was adopted by the Central Bank upon the recommendation of the World Bank—to enable certain banks to invest in allied and non-allied undertakings while engaging in commercial banking functions. A significant circular issued by the Central Bank in the 1980s was Circular No. 905 (issued in 1983), which lifted the interest rate ceilings imposed by the Usury Law. Note: You may email us at totingbunye2000@gmail. com. Past articles may be viewed at http://speakingout.ph/speakingout.php.
directly to the networks pockets rather than to the people through projects. Local government should organize forums for introductions for candidates who wish to represent its people
and assist in amplifying these messages. What if ? What if ? What if ? Should we lose our ideals in trying to correct the wrongs, we may as well pack up and leave.
from page 8
and butter for the last 30 years. Since the late 70’s, I have been with the hotel business starting with the Hilton Group and Hyatt Hotel chain where I worked from the ranks and moved later to the higher echelon of the organizations as I progressed and branch out to the provincial hotel category. In our conversation, I blurted, that for the Cinema in Cagayan de Oro to recapture its old glory, it should go for the showing of the latest James Bond Movies series or sequels to high earning films, like Lord of the Rings, Star Wars or Harry Potter. I could be right but maybe could also be wrong? I have seen good film selection and new releases
Bunye... from page 8
offered by commercial banks. Another significant law, which created the Philippine Deposit Insurance Commission (PDIC), was passed in 1963. In the 1970s, the Central Bank imposed prudential measures. Within this decade, banks widened their market by extending trust business services to corporations and individuals with high net worth. The system, however, had relatively limited access in attracting investors to channel their excess funds to foreign currency deposit units due to strict foreign
Tambuatco... from page 8
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Republic of the Philippines City of Cagayan de Oro OFFICE OF THE CITY MAYOR N O T I C E Notice is hereby given that the application of CAGAYAN DE MISAMIS DEVELOPMENT, INC., (McDonald’s – Xavier) of Corrales Avenue corner T. Chaves Streets, Cagayan de Oro City for registration under the City Ordinance No. 8267-2001, otherwise known as the Cagayan de Oro Investment Incentives of 2002 as a Fastfood Services has been approved on December 13, 2011 per Resolution No. 06-2011 passed by the Investment Evaluation Committee and is currently being processed. Any person with valid objections or pertinent comments of the abovementioned application may fil-e his/her objection in writing and under oath, with the Office of the City Mayor within one week from date of publication. Let this notice be published at the expense of the applicant.
BWM: June 8, 15 & 18, 2012
(Sgd.) VICENTE Y. EMANO City Mayor
June 18-21, 2012
200 GSIS scholarships open to members • Deadline on June 30 By APIPA P. BAGUMBARAN, Contributor
THE Government Service Insurance System (GSIS) is reminding members that the deadline for the filing of application for the enhanced GSIS Scholarship Program (GSP) is on June 30.
Barangay chairmen of Cagayan de Oro dance as they march along the streets of Cagayan de Oro to celebrate the 62nd charter day of the city. Among those who participated are Gusa chairman Emmanuel Beja (third from left) and Lapasan chairman Omar Labuntog (fifth from left). PHOTO BY GERRY L . GORIT
Ma. Luz Ilano-Br iones, GSIS Cagayan de Oro branch manager, said the GSIS has 200 college scholarship grants for the school year 2012-2013 to help the dependents of its
less privileged members earn a college degree from schools that provide quality education. She said all regular GSIS members with premium payments for the last six
months and are currently employed in government with a salary grade of 24 or below are eligible to nominate a scholar for the program. Briones said the nominee must be a child of the member and an incoming college freshman accepted in any of the schools identified by the GSIS. The scholar will be entitled to the actual cost of tuition and miscellaneous GSIS/PAGE 12
1st Blood Summit held in Oro THE first Blood Summit took place at the Cagayan de Oro City Hall on Thursday morning. Vice Mayor Caesar Ian Acenas, who represented Mayor Vicente Emano during the opening program, expressed pride that it happened first here in Cagayan de Oro. The vice mayor said this only shows the willingness of Kagay-anons to help save the lives of others. Blood donors from the city government, Cagayan de Oro Police Office, barangays, and different associa-
tions flocked to City Hall to participate in the blood letting activity, which was also graced by representatives of the Department of Health, Philippine Red Cross, City Health Office, and City Hospital, among others. Vice Mayor Acenas also recognized the participation of the Fraternal Order of Eagles in the blood donation drive. He said the holding of the Blood Summit is timely as it will address the need for blood in Cagayan de Oro and Misamis Oriental.
Acenas, who has been a blood donor even when he was an SK official, is a galloner awardee. The vice mayor is appealing to qualified blood donors to participate in the campaign. “Give blood, save lives. A single drop counts,” he added, citing that even Jesus Christ himself shed his blood for all. The vice mayor expressed his gratitude to all those who have participated in this morning’s activity. For his part, Councilor SUMMIT/PAGE 12
Police officers stand in attention at the Divisoria Park as Cagayan de Oro City celebrated its 62nd charter day. Despite a peaceful celebration, the police remain vigilant as crime in the city occurs daily. The other day a grade school kid was almost knifed by three street children who tried to bilk him of his cash allowance for school. PHOTO BY GERRY L . GORIT
June 18-21, 2012
AFP cites Misor, Bohol as models in fight vs rebels
Misamis Oriental Gov. Oscar Moreno(standing at left) shares with the PARCCOM in Region 10 his successful peace-building experience that earned a Galing Pook Award in 2011 for the province. He lauded the Department of Agrarian Reform for its immense contribution in the upliftment of Sitio Lantad from a hotbed of insurgency to a special agrarian community at present. DAR-10 Regional Director Felix Aguhob (extreme right) heartily accepted the acknowledgment. PHOTO BY RIO
NorMin PARCCOMs hold 25th Regional Convention By EDITHA R. SALVADOR
THE Provincial Agrarian Reform Coordinating Committees from the provinces of Bukidnon, Camiguin, Lanao del Norte, Misamis Occidental, and Misamis Oriental held their 25th Inter-PARCCOM Convention in this city last May 30-31. Gracing the event was Misamis Oriental Governor Oscar Moreno, who took the occasion to thank the Department of Agrarian Reform and lauded its efforts in the transformation of Sitio Lantad, an NPA-enclave in the late 80’s into a successful community that earned for the provincial government of Misamis Oriental a Galing Pook Award for 2011.
Gov. Moreno, a former legislator, intimated that when he was still in Congress, his colleagues always allocated a small budget for the DAR, rendering the agency helpless and ineffective in implementing the CARP. He expressed his appreciation to the DAR for being at the forefront in countryside development and able to deliver the mandate despite the constraints. DAR-10 Regional Director Felix Aguhob in return handed a plaque of appreciation to Gov. Moreno for his continuing support to the CARP. RD Aguhob then presented the status of the CARP implementation in Region 10 for the information and guidance of the PARCCOM
members. Section 44 of RA 6657, otherwise known as the Comprehensive Agrarian Reform Law, created the PARCCOM to coordinate and monitor the implementation of the Comprehensive Agrarian Reform Program (CARP) in the provincial level. It further mandates the PARCCOM to provide information about Presidential Agrarian Reform Council (PARC) guidelines on CARP and the progress of its implementation. PARO Zoraida Macadindang of Misamis Oriental thanked all the guests that included representatives from DA, DENR, PARC, LRA, LBP and AFP for their active participation especially during the open forum.
G E N . Je s s i e D e l l o s a , Armed Forces chief of staff, has called on stakeholders, including local officials to continue working with the military in its effort to clear the country of insurgency and other threat groups before 2016. Dellosa made the call during the two-day stakeholders’ review of the government’s Internal Peace and Security Plan (IPSP) Bayanihan at the Ateneo de Manila University in Quezon City that was attended by different groups. “We call on the different stakeholders to renew their commitment of support to the IPSP Bayanihan. By fulfilling this commitment, we can be assured of giving closure to the decades of armed violence by the NPA and finally lead our people to lasting peace and sustainable development,” Dellosa said. He cited the accomplishments of the provinces of Bohol and Misamis Oriental in eliminating the threats and problems posed by the former presence of rebels in their areas, adding the two provinces could be role models for other local officials. “Apparently, the par-
Sitio Lantad, Barangay Kibanban, Balingasag in Misamis Oriental is a former stronghold of the Communist Party of the Philippines-New People’s Army’s (CPP-NPA) Front Committee 4B, North Central Mindanao.
ticipation of the different stakeholders as well as the dedication and commitment of local government units in taking the lead role remains as key ingredients in negating the grounds of insurgency to prosper,” Dellosa said. Bohol Gov. Edgardo Chatto recalled how all stakeholders worked together to free the province of insurgency. B ohol was declared insurgency-free in 2005 owing to the multisectoral effort in addressing the root cause of insurgency that included the delivery of basic services and the construction of different
development projects. On the other hand, Misamis Oriental Gov. Oscar Moreno showed how rebels’ center of gravity in his province became an insurgency-free and progressive community. He said L antad, an upland community and once the symbol of government’s neglect in his province, is a proof what Bayanihan can do. Moreno said the joint and collaborative efforts of the militar y and the civilian sector resulted in the “180 degrees turn of the community from an NPA bailiwick to an insurgentfree community.”
American Standard’s bathroom madness AMERICAN Standard, the world’s leading name in bathroom and shower systems, has launched its much-anticipated Bathroom Madness promo, which runs until June 30. Now on its fourth year, Bathroom Madness has been the answer to many homeowners’ refurbishing needs, as it gives up to 30 percent discounts on selected items in participating outlets nationwide. Noel Tolosa, Marketing Manager of American Standard, invites customers to refurbish their bathrooms this summer for less. “Bathroom Madness brings homeowners a step closer to their dream bathrooms as only American Standard does them, with carefully crafted bath and shower fixtures that promote relaxation and a blissful ambience” he said. Bathroom Madness offers discounts of 10 to 15 percent on toilet models like the Winston
Summit... from page 11
Dante Pajo, vice-chair of the Cagayan de Oro Blood Council, announced that the city government will ensure the continued campaign for blood donations to have an adequate and safe blood supply for the people of the city. He is thankful for the successful outcome of this
Dual Flush, Uniline-R, New Codie II, and the high-end Acacia series. Stylish singlehole basic faucets like the Acacia, Rio, La Vita, and Nobile Joystick are on offer at a 15-30 percent discount, while some washbasin models, like the under-counter Ovalyn, carry up to a 30 percent price-off. Other bath and shower fixtures on sale include the Ventuno in-wall mixer, La Vita in-wall and exposed
models, the Tonic and the Nobile series, and the Acadia direct mount shower system. Bathroom Madness is open to all American Standard customers and available in participating outlets nationwide. With discounts up to 30 percent, the promo cannot be used together with other existing American Standard promos. Bathroom Madness runs until June 30.
morning’s blood donation drive. The Blood Council aimed to have 300 donors as a result of the activity. The Blood Council was created by Mayor Vicente Emano by virtue of Executive Order No. 062-2011 to strengthen the campaign for blood donations pursuant to provisions of republic Act 7719 otherwise known as the National Blood Services Act of 1994. The mayor
chairs the said city’s Blood Council.
GSIS... from page 11
fees not exceeding P20,000 and a monthly stipend of P2,000. He/she may also opt to take a four- or five-year course but must meet the scholastic requirements set by the school for student retention under the program.
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June 18-21, 2012
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Philippine Veterans Bank
Philippine Veterans Bank, also known as PVB and Veterans Bank, is a medium-sized commercial bank in the Philippines. PVB is owned by Philippine World War II war veterans and their families and caters to both corporate and retail financial markets. As part of its charter, PVB provides 20% of its annual net income for the benefit of its shareholders. With its recapitalization, the original two shares of each veteran grew to 54 common and 10 preferred shares now with a combined value of P6,400. PVB also embarked on goodwill programs for World War II veterans such as free medical care. It also puts preference to veterans in banking transactions and puts preference to their descendants in hiring bank personnel. Veterans Bank is currently ranked 19th among the Philippinesâ€™ 38 universal and commercial banks. The bank reported an unaudited net income of P520 million for 2011, slightly higher than the net income reported in 2010. At the close of 2011, PVBâ€™s total resources stood at P56.48 billion, and P5.76 billion in capitalization, continuing the trend of growth and profitability in recent years. Its capital adequacy ratio, a measure of banks to shoulder risks, was at 16.15%, one of the highest in the industry and way above the Bangko Sentral ng Pilipinas requirement of 10%.
BusinessWeek Congress•Watch 14 House okays amendments to witness protection law June 18-21, 2012
THE House of Representatives has approved on second reading a measure encouraging witnesses to enter the government’s witness protection program by providing better protection and benefits to them to ensure the speedy and fair disposition of justice. House Bill 5714, authored by Reps. Roilo Golez (2nd District, Parañaque City), Juan Edgardo Angara (Lone District, Aurora), Simeon Datumanong (2nd District, Maguindanao), Rufus Rodriguez (2nd District, Cagayan de Oro City) and Maximo Rodriguez, Jr. (Party-list, Abante Mindanao) seeks to amend Republic Act 6981 otherwise known as “Witness Protection, Security and
Benefit Act.” The bill’s plenary approval was endorsed by the House Committee on Justice chaired by Rep. Niel Tupas, Jr. (5th District, Iloilo). The measure mandates that witness duty shall include the attendance of the witness in the court body or authority where one is required as well as in conferences and interviews with prosecutors or
investigating officers. Golez said the bill provides free medical treatment, hospitalization and medicines while on witness duty or while in the safehouse. Golez said the present law should be amended in order to improve the conditions and procedures for providing protection and assistance to a witness in legislative investigations. “Witnesses are afraid to testify during an investigation on criminal cases for fear that they would be exposed to severe danger,” Golez added. Datumanong said it is common knowledge that
the successful prosecution of criminal offenses primarily rests on the willingness of witnesses to fully cooperate with the authorities who investigate and prosecute these criminal offenses. “Many cases were lost because of the natural reticence of prospective witnesses to involve themselves in criminal actions because of fear for their lives and limbs. It is therefore imperative for the State to encourage prospective witnesses to help the authorities prosecute criminal offenses by providing them the necessary assistance not only for their safety but also their welfare,” Datumanong
said. Rodriguez said in view of the active roles of the Senate and the House of Representatives in the investigation of malfeasance, misfeasance or nonfeasance of government officials which are detrimental to the interests of the Filipino people, there is a need to amend Republic Act 6981 otherwise known as the “Witness Protection, Security and Benefit Act.” The bill provides that a witness who is relocated to an accredited Witness Protection Security and Benefit Program (WPSBP) safehouse/ temporary shelter shall be considered to
be under witness duty. It mandates the granting of free education from primary to college level in any state school, college or university to the witness’ minor or dependent children during his/her admission to the Program and up to one year after the termination of the witness duty. The measure likewise provides for the perpetuation of testimonies of witnesses in consonance with Rule 134 of the Revised Rules of Court, The Rule on Perpetuation of Testimony has been transposed to the Rules of Court on Depositions and Discovery.
Congress ratifies bicam report on People’s Survival Fund bill THE House of Representatives has ratified the bicameral conference committee report on House Bill 6235, establishing the People’s Survival Fund (PSF) that will enable the government to effectively address the problem of climate change. Rep. Dan Fernandez (1st District, Laguna), principal author of House Bill 6235, said the PSF shall be used for activities directly and exclusively supporting priority
adaptation projects and programs adopted pursuant to climate change action plans of the local governments. The bill seeks to amend Republic Act 9729 otherwise known as the Climate Change Act of 2009. Fernandez said the PSF shall be used to support, grant, finance or otherwise assist adaptation activities where sufficient information is available to warrant such activities, in the areas of water
resources management, land management, agriculture and fisheries, health, infrastructure development, fragile ecosystems including mountainous ecosystems, and integrated coastal zone management. “The fund can support the improvement of the monitoring of vectorborne diseases triggered by climate change, and in this context improving disease control and prevention. The fund can also finance the forecasting and
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early warning systems as part of preparedness for climate related hazards,” Fernandez said. Rep. Isidro Ungab (3rd District, Davao City), Chairman of the House Committee on Ways and Means, said the fund may also serve as a guarantee for risk insurance needs for farmers, agricultural workers and other stakeholders; establish and strengthen existing national and regional centers as well as information networks for rapid response to extreme weather events where needed. Ungab said the balance of the PSF from all sources including the General Appropriation Act for the current year may not
be less than P500 Million and may be increased as the need arises subject to review and evaluation by the Office of the President and the Department of Budget and Management (DBM). “The PSF may be augmented by donations, endowments, grants and contributions which are exempted from donor’s tax and considered as allowable deduction from the gross income of the donor,” Ungab said. Under the bill, the advisory board of the Climate Change Commission shall be headed by the Secretary of Department of Finance to include the Secretary of the Department of Budget and Management, and
the Chairperson of the National Youth Commission. The Climate Change Commission shall set the strategic direction on climate adaptation, utilizing the expertise of the Advisory Board, evaluate, review and approve the proposals to be submitted to the PSF Board for funding. T h e c o - aut hors of the bill are Reps Joseph Emilio Abaya (1st District, Cavite), Lorenzo Tañada III (4th District, Quezon), Mel Senen Sarmiento (1st District, Western Samar), Rufus Rodriguez (2nd District, Cagayan de Oro City) and Maria Isabelle Climaco (1st District, Zamboanga City).
made by the Mindanao Development Authority (MinDA), which claimed in an earlier press conference that it would present the data to the President showing that “the hydroelectric plants have been generating incomes for government.” “Although the privatization and sale of the complex have been deferred through a Congressional resolution, President Aquino has repeatedly said that only the privatization of AgusPulangui can provide reliable energy for Mindanao,” said another statement by the group posted in its web site. It said the movement would like to provide “venue through which the rest of the Mindanaoan population can participate in claiming back the power to have a say on the island’s vast energy resources and at the same time positively resist decisions reached against their will and interest.” The group along with other organizations like Mindanao Commission on Women and National Association of Electric Consumers for Reforms Inc. also pushed to overhaul the Electric Power Industry Reform Act, the law that pushes for the privatization
of the public-owned power plants. The implementation of the law marked its 11th year on June 8. Based on the law, the Agus-Pulangui will be privatized after a decade of its implementation. But Irene Morada Santiago, chair and chief executive officer of Mindanao Commission on Women, said the privatization could only result to high power rates. “If privatized, the cheaper rates will be out of our hands,” she said. The Agus-Pulangi hydropower complex has been the subject of controversy after it was included in the list of government assets to be privatized under the Electric Power Industry Reform Act, a move being opposed by Mindanaoans as it would result to higher electricity rates. Presently, the plants are undergoing repairs and rehabilitation to lengthen their lifespan and maximize the dependable capacity. The national government will allocate P2.6 billion for the repair and maintenance of Agus 6, which is already nearing 60 years old, and P7.24 billion to dredge and rehabilitate the river basins for water to flow unimpeded to the hydroelectric plants.
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wants to tap the support of all Mindanao residents “that they are willing to chip in at least P50 to raise P1.05 billion as seed fund.” “While the pledges are symbolic, we would like to make this our way at telling the President that Mindanao is not willing to yield to government plan to privatize the Agus-Pulangui complex,” she said. The call is echoed by Rolando Pacanot, secretary general of Freedom from Debt Coalition, in a press statement last week. “We call on every Mindanaon and perhaps every consumer in the country to register their strongest opposition to the government’s plan of selling Agus-Pulangui hydropower complexes,” he said. A statement of the Pipol’s Power said stakeholders who attended the Mindanao Power Summit in April this year vowed “to keep in public hands the power utilities like the power barges and the Agus-Pulangui hydroelectric plant complex.” The group said a government web site has already put at auction the complexes despite the representation
BusinessWeek Emano... from page 1
ship venture between the city government and Centrio Ayala Mall to facilitate the employment of job seekers. Centrio Mall, which will have about 400 merchant partners, is opening by the fourth quarter of this year in the city’s central business district. The mall will house stores with popular international and local brands. In a news release, the president of one of the merchant partners of Ayala aired his confidence in the economy of Cagayan de Oro even after the devastations brought by the calamity last December
Pearl... from page 1
Pearl Farm, where thousands of white lipped oysters, transported from the Sulu Sea, were cultivated for their pink, white and gold pearls. “The place is what you call paradise on earth,” said Tourism Secretary Joseph “Ace” Durano. It may be an exaggeration, but that is the feeling one gets when he or she sets foot on the island’s pristine and serene beauty. At the Pearl Farm, one can have the best of both worlds –an exotic and luxurious five-star island resort and at the same time, a resort that is accessible and close to the mainland. A unique feature of this beautiful resort are the Samal houses patterned after the stilt houses of the seafaring Samal tribe of Sulu. Placed near the entrance of each houses are a jar of water and a coconut dipper which guests may use to wash off the sand after a swim or walk on the beach. By day, schools of tiny
June 18-21, 2012
16 and 17. “We can feel the strength of the CDO economy,” said Anton Gonzalez, president of Planet Sports Inc., in a report. It also quoted Debenhams and Marks & Spencer executive Steven Sarmenta who said the company is excited to be part of the development here. “We want to show our confidence in the province. We are betting on the resiliency of the people.” he said as quoted in the report. The mayor is thankful to Ayala for its partnership with Cagayan de Oro in its new beginning. Ayala will be hiring hundreds of employees for its establishment here, he
said. According to the mayor, there are also other vacancies in local and overseas companies that are participating in the job fair. The Public Employment Service Office headed by Juvy Paza started posting vacancies in bulletin boards set-up at City Hall since Monday to guide jobseekers. The PESO said about 11,350 job vacancies were filled up during the job fair, for 75 local business establishments, 300 Ayala merchants and 22 overseas employment agencies. Emano said they plan to hold another job fair by March or April next year. “Aron matagaan sa higayon ang mga tao nga
makatrabaho (For the people to be given the opportunity to get jobs),” he added.
fish frolic between the sturdy poles supporting the houses (the place around the resort is a fish sanctuary). At night, the sound of the waves is soothing aid to slumber. The resort has 19 airconditioned Samal houses and six Samal suites. There are 19 hotel-type rooms at the hilltop of Balay I and II. Each room is decorated with the arts and crafts of the tribal people of Mindanao. The ethnic motifs reflect the rich culture and heritage of the indigenous tribes, giving a distinct charm to the resort. Rooms are built to fit around the island’s graceful contour, each one opening up into a breathtaking view of the calm, blue sea. Nearby is Malipano Island where guests can rent any of the luxur y three-bedroom villas built by the resort owner, Don Antonio Floreindo, for each of his children. What does one do at the resort aside from admiring the view, soaking in the sun, swimming either at pool which spills out
into the sea below or at the Davao Gulf, or simply frolicking along the whitesand beaches? Jetskiing, hobbie-cat sailing and scuba diving await the water sports enthusiasts. The vast unexplored depths of the Davao Gulf offer ample opportunities for scuba diving and underwater photography (the resort has a full-service diving center). Within these waters can be found varied, colorful marine species of the whole IndoPacific region. A favorite spot of divers is the site of two Japanese shipwrecks sunk by the Americans during World War II. One can simply admire fish ponds stocked with rare aquatic species like the pawikan (giant turtle) and the giant taklobo clams. Or one can take a banca and explore the dazzling coral gardens. For the tennis buffs, there are two tennis courts set amid tropical foliage. Or just follow the wooden foot bridge and walkways as you leisurely meander through the exotic gardens of the resort
where island structures are made of natural materials such as bamboo, wood, rope, stone and coral, blending beautifully with the rest of the landscape. At the Maranao Pavilion, guests can savor fresh seafoods from the surrounding waters or try any of the succulent exotic fruits which abound in the island city such as bananas, durian, papaya, mangosteen, mangoes and marang. At night, guests may go ballroom dancing. For a nightcap, one may go to the cozy Parola Bar (named after the local term for lighthouse), which was once a lookout post for strangers who were not welcome on the island, back in the days, when it was still a pearl farm. Amid the relaxing ambiance, guests can unwind with a night of music, drinks and exhilarating conversation, or try a game of chess at the giant chessboard. The resort has been receiving guests from Europe, Taiwan, Japan and local tourists from Manila and other cities in the Visayas and Mindanao.
PANEDOTTE PASTRIES are available at Tagoloan, Misamis Oriental, just in front of the Senior Citizens Center in Tagoloan, Misamis Oriental with Tel Nos. (08822) 740-211, (088) 856-2419; Cell Phone Nos. 0917-706-2247 and 0917706-1516, or visit them at 162 M.H. del Pilar –Velez Sts., Cagayan de Oro City Available at GAISANO SUPERMART and at LUMBIA AIRPORT PRE DEPARTURE AREA
Banana... from page 1
interview that their Mindanao-based group is forced to sell to importers from China, the Middle East and Russia who buy their Cavendish bananas at P60P120 per box rather than the original price of P200. “I cannot blame them, especially now that school has started. They need something to get them by,” Antig said. However, Antig reminded the small banana growers that they need not sell at these low prices as Philippine Cavendish
bananas are of excellent quality and that Japan, Korea and New Zealand remain fair-minded buyers. Solutions The Association said that government’s call to look for alternative markets is not feasible at the moment. “It took us more than five years to penetrate our current export destinations. I don’t think the government knows how difficult it is to cultivate trading relations when it comes to fresh fruit exports,” said Antig. Meanwhile, small and commercial-scale banana growers met with Senator Francis Pangilinan two weeks ago to ask for assistance and also present the industry’s recommendations. The fruit growers asked
the senator to broker a deal with the Department of Social Welfare and Development in which the department would buy the bananas that they are unable to export. In May 2012, the national government agreed to release P50 million to help small banana growers improve their packaging facilities in order to satisfy Chinese inspection protocols. Bananas are the country’s 2nd top dollar-earner next to coconuts. In 2010, total export earnings for fresh Cavendish banana were $720 million or about P30.2 billion. China is the second biggest market of Philippines bananas. Banana exports to China reached 358,000 metric tons worth P4.75 billion in 2011.
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June 18-21, 2012