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THE
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Dealer of hardware and construction materials: Product Lines: Angle Bars; Gl Pipes; C-Purlins; Holow Blocks; Coco Lumber; Carrying Channel; Double Furring Channel; Single Furring ; Acoustic Board; Polycarbonate; Power Tools; Good Lumber S4S; Panel Doors; PVC Laminated Panel; PVC Vertical Blinds; Roller Blinds ; Wooden Blinds; Armstrong Vinyl Tiles; Kent Vinyl Tiles; Parquet Tiles - Apo Vinyl Tiles.
“YOU NAME IT, WE HAVE IT.”
of the things we think, say or do
1. Is it the TRUTH? 2. Is it FAIR to all concerned? 3. Will it build GOODWILL and BETTER FRIENDSHIP? 4. Will it be BENEFICIAL to all concerned?
Mindanao DAILY Distributor & Dealer of: Steel Bars; Holcim Cement; Davis Paint; Sand & Gravel; Plywood; INdustrial Supplies; Finishing Supplies; Electrical Supplies; Power Tools; Air Compressors
THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT
Volume VI, No. 057
CHENG ORDOÑEZ, Section Editor
Business Wednesday
August 3, 2016
P15.00
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Cybersecurity for PH businesses ‘ePLDT certified experts provide cybersecurity assessment’
CYBERSECURITY is one of the biggest concerns of enterprises these days. Without dedicated personnel to manage this aspect of the business, implementation can be daunting. Companies will need to manage security policies, configure and maintain multiple hardware and systems, implement best practices and compliance, and handle upgrades, while keeping up-to-date with the latest threats. In line with its thrust to help Philippine businesses implement reliable cybersecurity measures, ePLDT, the digital enterprise enabler of the country’s leading telecommunications and digital services provider, PLDT Inc., recently introduced the ePLDT Managed Security Solutions in its product roster. It is a suite of security services that cover the devices, systems, processes, and expertise needed to proSee businesses, page B3
Council warns gas-selling on sidewalks By Mark D. Francisco
Robinsons, here, to accommodate them. In an interview with PhilHealth regional operations head Allan G. Panolong, he said that they are still awaiting the list of their copy of the 2015 Listahanan Database of Poor Families in Region 10 which was released by DSWD 10 last See center, page B3
See warns, page B3
PLEDGE OF SUPPORT. Officials of the Department of Trade and Industry (DTI) and Bureau of Internal Revenue (BIR) signed the Pledge of Support for Genuine Tax Reform for the benefit of taxpayers and businesses. In photo are (from left to right) Mon Abrea, President of Center for Strategic Reforms of the Philippines, Atty. Lanee David, BIR Deputy Commissioner Nestor Valeroso, DTI Secretary Ramon Lopez, BIR Commissioner Caesar Dulay, DTI Regional Operations Group Undersecretary Zenaida Maglaya, DTI Industry Promotions Group Undersecretary Nora Terrado and DTI Management Services Group Officer-in-Charge and Assistant Secretary Ireneo Vizmonte. (photo by dti-pru)
DBM scraps BUB CAGAYAN DE ORO CITY – Mayor Oscar S. Moreno announced yesterday a tremendous shift to selfreliance within the city government as the Department of Budget and Management (DBM) started scrapping the bottoms-up budgeting scheme of the previous administration. The city government still has more than P3 billion in unspent funds as the City Council in the past three
CAGAYAN DE ORO CITY – Councilors yesterday sounded alarm bells on fuel products sold in sidewalks in the city. The call of the councilors came at a time when the Bureau of Fire Protection (BFP) disclosed that there is probable cause that the blaze that destroyed a house in barangay Camaman-an was due to various gasoline and diesel products hoarded by the house’s owner. Councilor Romeo V. Calizo, chair of the committee on public safety, said that authorities could not apprehend these bootleg fuel vendors since there is no national law that prevents them from selling on the streets. Small-time vendors such as allegedly the fire victim buy the products on bulk basis at local gas retail outlets at tremendously huge discounts and resell them on the streets at very low prices compared to the prevailing market standard. Councilor Teodulfo E. Lao Jr., chair of the committee on energy, feared that gas stations priced their products lower to these unscrupulous vendors because these don’t contain additives. Additives increase fuel performance or act as corrosion inhibitors and
years have refused to pass various ordinances allotting its use. Mr. Moreno said that with the current batch of councillors, he expected them to authorize him through various resolutions and ordinances in appropriating these funds. This, as DBM had announced in July that it would scrap the BuB scheme of the Aquino administration, with Secretary Benjamin E.
Diokno calling it a “waste of government funds” and a “political tool.” But during the ceremonial groundbreaking of the BuB-funded Oro Women Crisis Center yesterday, Mr. Moreno said BuB was the best ever scheme hatched by the national government in emphasizing financial transparency that trickles down to the grassroots level. Yet the mayor said that See scraps, page B3
Philheath puts up business center in commercial district By Mark D. Francisco
CAGAYAN DE ORO CITY – With the release of the new Listahanan figures from the Department of Social Welfare and Development (DSWD) 10, the number of PhilHealth beneficiaries in the region is expected to rise, even as it has already put up a business center at
quality tarpaulin printing contact: mindanao daily news publishing corporation Mdntarps@gmail.com (0935) 161 3398 look for Anabelle, (088)881-0100 Tanleh Bldg. Abellanosa St., Consolacion, Cagayan de Oro City Editorial: e-mail: mindanaodailynews@gmail.com • Advertising: e-mail: mindanaodaily.ads@gmail.com Contact: 0917-7121424, 0947-8935776
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Mindanao DAILY THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT
Wednesday, August 3, 2016
Cash cards for SSS salary loans attract over 45,000 members, P865-M disbursed Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region OFFICE OF THE CLERK OF COURT EX-OFFICIO SHERIFF Tubod, Lanao del Norte NOTICE OF EXTRA-JUDICIAL SALE EJF No. 202-07-2016 Upon the ExtraJudicial Petition for Sale under Act 3135/1508, as amended, filed by the LAND BANK OF THE PHILIPPINES Branch Office Cagayan de Oro Lending Center, 2/F Green Tower Bldg. Velez-Luna Sts., Cagayan de Oro City against SPS. RITCHEL SUE & CASIMERO BAGOL, Malingao, Tubod, Lanao del Norte to satisfy the indebtedness which as of January 15, 2016 amounting to TWO MILLION TWO HUNDRED THOUSAND (Php 2,200,000.00) excluding penalties, changes, attorney’s fee and expenses of foreclosure, the undersigned or his duly authorized deputy will sell at Public Auction on 14th day of September 2016 at 10:00 AM or soon thereafter at the Regional Trial Court, Branch 07, Provincial Capitol of Lanao del Norte, Pigcarangan, Tubod, Lanao del Norte to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all its improvements, to wit: TRANSFER OF CERTIFICATE OF TITLE NO. T-21,325 A parcel of land (Lot 6398-A, Psd-12-029438 of the subdivision plan Psd-12-02-438, being a portion of Lot 6398, Pls – 13), situated in the Barrio of Malingao, Municipality of Tubod, Province of Lanao del Norte, Island of Mindanao. Bounded on the: NE., by Lot 6398-B; SE., by Road; SW., by Lot 3199, Pls-13 NW., by Lot 6398-H; (Road Lot) Beginning at a point marked “1” on plan being N. 7 deg. 10’W., 1019.94 m., from BLLM No. 145, Tubod Pls-13, to corner 1; containing an area of ONE THOUSAND (1,000) SQUARE METERS, more or less all the improvements found thereon. TRANSFER CERTIFICATE OF TITLE NO. T-21,326 A parcel of land (Lot 6398-B of the subdivision plan Psd-121-029438, being a portion of Lot 6398, Pls – 13 situated in the Barrio of Malingao, Municipality of Tubod, Province of Lanao del Norte, Island of Mindanao, Bounded on the NW., along line 1-2-3 by Lot 6398-H, (Road Lot) NE., along line 3-4 by Lot 6398-C SE., along line 4-5-6 by a Road; SW., along line 6-1 by Lot 6398-A, all of the subdivision. Containing an area of One Thousand (1,000) SQUARE METERS, more or less all the improvements found thereon. TRANSFER CERTIFICATE OF TITLE NO. T-21-327 A parcel of land Lot 6398-C, Psd-12-029438 of the subdivision plan Psd-12-029438, being a portion of Lot 6398, Pls-13 situated in the Barrio of Malingao, Municipality of Tubod, Province of Lanao del Norte, Island of Mindanao. Bounded on the NW., along line 1-2 by Lot 6398-H (Road Lot); NE., along line 2-3 by Lot 3246-B, Csd-10-000053; SE., along line 3-4 by a Homestead Road. SW., along line 4-1 by Lot 6398-B, all of the subdivision plan. Containing an area of TWO THOUSAND (2,000) SQUARE METERS, more or less all improvements found thereon. “All sealed bids must be submitted to the undersigned on the above stated time and date. In the event that the Public Auction cannot take place on the said date, it shall be held on September 21, 2016 without further notice. Tubod, Lanao del Norte, Philippines, this July 28, 2016
More than 45,000 members of the Social Security System (SSS) have benefited from the pension fund’s partnerships with two major banks for the electronic release of salary loans through cash cards issued to borrowers, instead of the usual loan checks sent through mail. SSS Officer-in-Charge of Member Loans Department Esperanza E. Salvado said the SSS has disbursed a total of P865.1 million under its Salary Loan Releases thru the Bank Program, which currently offers the Citi Prepaid Card from Citibank Philippines and Quick Card from Union Bank of the Philippines (UBP). “Despite its limited availability, with only selected SSS branches in strategic locations offering these multipurpose cash cards at present, thousands of members are already experiencing the convenience and hassle-free transactions afforded by this electronic means of getting their salary loan proceeds,” she said. The Citi Prepaid Card and UBP Quick Card function similarly to automated
teller machine (ATM) and debit cards, enabling SSS member-borrowers to withdraw their salary loan proceeds from ATMs or use them for in-store or online purchases at accredited merchants. Salary loans are one of the most sought-after SSS services, which prompted the agency to explore better means to expedite the release of loan funds to members. The loanable amount ranges from P1,000 to P32,000, depending on the members’ total number of contributions and monthly salary credit. Salary loan proceeds are credited to Citi Prepaid Cards and UBP Quick Cards within three to five working days from the date of loan application. In contrast, the process of printing, mailing and clearing salary loan checks can take up to three weeks, delaying the release of funds to members. Me m b e r s a p p l y i n g for salary loans coursed through cash cards would receive their Citi Prepaid Card or UBP Quick Card on the same day they submitted their loan application.
While salar y loan cash cards are issued for free, a replacement fee of P150 will be charged if these are lost or damaged. Salvado said that over 36,800 members at present have received their own Citi Prepaid Cards, with loan disbursements amounting to P658.9 million since the facility was piloted in SSS Diliman and SSS MakatiGil Puyat in March 2014. “In December 2015, SSS branches in nine more locations also began accepting applications for the SSS Citi Prepaid Card, specifically in Alabang, Bacoor, Manila, Kalookan, Makati-Ayala, Pasig-Shaw, Cebu, Davao, and at the Philippine Overseas Employment Agency in Mandaluyong City,” she said. Meanwhile, the UBP Quick Card was piloted at SSS Diliman, MakatiGil Puyat and Pasig-Shaw in November 2015, and then introduced at SSS Kalookan, Makati-Ayala, Mandaluyong and Manila in June 2016. About P206.2 million have been disbursed through nearly 8,700 UBP Quick Cards at present.
100 DepEd personnel joins tree planting By Glenda L. Llanto
A total of 100 DepEd personnel in Iligan City Division joined tree planting last July 23, 2016 at Digkilaan National High School this city. The activity was led by EPS1 Science Engr Ann Solijon and Dr. Sherlita L. Daguisonan. Majority of the seedlings planted were guyabano (anona muricata) and coffee (coffea) in the open area back part of the school. The participants find it easy to plant the seedlings since
holes and tree guard were already prepared courtesy of the host school led by Mrs. Delia Layno. The event was also supported by the elementary school management and staff under the baton of Dr. Ana Maria S. Timogan. “This is a response to ACT NOW 2017 project of 100 million trees campaign in the middle of Finnish Forests and summer with white nights”, Engr Solijon exclaimed when interviewed. This endeavor has been
backed up also by Schools Division Superintendent, Randolph B. Tortola, CESO VI as division memorandum was really issued to enforce wide participation especially science teachers added Dr. Daguisanan. “Planting tree gives us symbol of hope, towards a deeper environmental protection especially that digkilaan is devastated in 2012 by typhoon Sendong”, said by Ms. Jennifer S. Cataluna, Tambo CS Science teacher. A Grade 8 student added,
“The number of participating SSS branches is the major factor in the increasing number of cash card enrollees and corresponding loan releases. Expanding the number of SSS branches offering the Citi Prepaid Card and UBP Quick Card is part of our plans for the coming months,” Salvado said. To apply for the cash card, members must first get a Member Loan Application form from any SSS branch or download thru the SSS website (www.sss. gov.ph). Applicants must then select “cash card” as their preferred mode of payment or loan release and submit the filled-out application form to any of the participating SSS branches. “Personnel from SSS as well as from UBP are ready to assist memberborrowers for processing of their applications at our various participating branches. For more details, they can contact the SSS Call Center at 920-6446 to 55 or email member_relations@sss.gov.ph,” Salvado said. “brings people together with the Mother Nature”. “Fortunately, the movement towards a deeper commitment to environmental protection through planting new trees is rapidly increasing all over the world. At the global level, trees and forest are closely linked with weather patterns and also the maintenance of a crucial balance in nature. The task of environment protection is a universal responsibility” a very significant conversation with my school head after the event.
OROFIESTA TRADING SERVICES, INC.
For the Clerk of Court and Ex-Officio Sheriff
(SGD.) CONRADO V. HINGCO, JR. Sheriff MDN: AUG. 3, 10 & 17, 2016
Republic of the Philippines Province of Misamis Oriental Municipality of Naawan
KIMBERLITE PAWNSHOP MALAYBALAY BRANCH
OFFICE OF THE MUNICIPAL CIVIL REGISTRAR Publication Notice RA 10172
NOTICE TO THE PUBLIC
In compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-01, Guidelines in the Implementation of the Administrative Order No. I, Series of 2013 (IRR of RA 10172), Notice is hereby served to the PUBLIC that ZARA G. RAVIDAS-JIMENEZ has filed with this Office a petition for correction in the entry of sex from “MALE” to “FEMALE” in the Certificate of Live Birth of ZARA G. RAVIDAS-JIMENEZ who was born on February 15, 1980 at Naawan, Misamis Oriental and whose parents are AMADO N. RAVIDAS and ESPERANZA M. GAA. Any person adversely affected by said petition may file his written opposition within this office not later than July 2016. (Sgd.) MARLON S. DACOCO Municipal Civil Registrar MDN : AUG. 3 & 10, 2016
JY TRADING First Standard Finance Corporation Zone 2 Igpit, Opol, Misamis Oriental
services offered: - Vehicle Loans - Real Estate Loans contact numbers
- Car Financing 0935-111-7921 / 0997-381-1836
Kimberlite Pawnshop will be having an AUCTION SALE on all items that expired on June 2016: AUCTION DATE: August 19, 2016 Estrada Bldg., Fortich-Don Carlos Sts., Malaybalay City, Bukidnon
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Wednesday, August 3, 2016
Let the time heals the pain The Gospel of J e s u s C h r i st ( A u g u s t 3 , 2016-Wednesday) Luke 24:35-48”They began to relate their experiences on the road and how He was recognized by them in the breaking of the bread. While they were telling these things, He Himself stood in their midst and said to them, “Peace be to you.” But they were startled and frightened and thought
Businesses... from page B1
needed to protect vital IT infrastructure from most security risks, evolving threats, and malicious software attacks. “Many businesses find security overly complicated and thereby put it off to deal with later when a breach has occurred. Our goal is to simplify it for them, giving more incentives to make security a priority to minimize the cost of these breaches. Having protective measures is not enough— enterprises need to check for vulnerabilities and respond accordingly,” said Bernice Pineda, Business Development Manager for PLDT Disruptive Business Group. Following the launch of its Managed Security Solutions, ePLDT is offering free vulnerability assessment for a limited time, providing
that they were seeing a spirit. And He said to them, “Why are you troubled, and why do doubts arise in your hearts? They never believed that Jesus resurrected after three days. They made Jesus a liar in that way, but anyway, they were very emotional at the time and needed to be understood. This means that in time of troubles and doubts recall and remember critical insight into specific details of a company’s IT system such as bandwidth usage, infected computers, and possible security gaps within the network. A part of the free assessment will be the installation of a tool which can automatically analyze network traffic. This assessment is open for enterprises within Metro Manila and will be free for those who apply until August 31, 2016. “The vulnerability assessment, which we are currently offering free of charge, will help enterprises understand cybersecurity in greater depth. We will help them test their current security and recommend the appropriate adjustments tailored for their needs,” said Francis Arjonillo, Head of PLDT Business Development for Enterprise Cloud and Managed Security. “In matters of security, being
Bringing clear sight of your goal By Glenda L. Llanto
Everyone has dream, a goal in his or her life. As we say, nothing succeeds like success. The Career Guidance Week is institutionalized under depEd D.O. 25 s. 2013, which declares its observance. Former Labor and Employment Secretary, Rosalinda Dimapilis-Baldoz said this annual activity will deliver a lasting impact among students trooping to colleges and universities and technicalvocational institutions in terms of guiding them towards the right career choice. Today, awareness about career guidance is very low among younger generation. The culture of going to a counselor is almost non-existent in our country. This nationwide activity however has been fully supported by Digkilaan Central School. In DepEd Iligan, the event is observed from July 25-29, 2016. Instead of simply allowing school children wear their desired career costume, it was made into a fashion show, an innovative way of its observance. An executive committee was made to oversee the weeklong activity and well guided by Dr. Ana Maria
S. Tiomogan, the school Principal. Each career whether professional or skill based category was categorically grouped and showcase their ability to carry themselves in the ramp. Majority of the career choice among the school populace is nursing and Philippine force, followed by engineers, flight attendant, lawyers and teachers. Judges were really invited to select the best career costume among the participants. Career guidance is a very important aspect in one’s life. In fact, it can make or break your career. The best part of it is that it is very objective as well as strategic. You could get a clear picture what goal should be or must be. It is essential that for a bright future, you must start planning from now on. And for right planning you need right guidance. Hence, a planned and effective career guidance week celebration help translate inspiration and motivation to achieve children’s goal and dreams not only within the classroom but for lifetime. This enterprise is very successful with the support of parents and guidance of their teachers
the miraculous works of God in your life in the previous events of your journey for you to be fueled by the passion to move forward. This was the mistakes of these two men because they focused on the death of Jesus but never to his promised resurrection. They were very emotional at the time and made them coward to face the truth of Jesus fortune in Israel. Reminder: Be proactive is a must. One shouldn’t sit around and wait for a breach before taking action.” Those who are interested in the free vulnerability assessment and the ePLDT Managed Security solutions may visit www.epldt.com/ solutions/managed-security to sign up or view more details.
Scraps... from page B1
with the scrapping of BuB, he is still optimistic that the Duterte administration would concoct a similar program so that the national government could have financial counterpart in local projects. “BuB was good because it was not us which determined the projects. It was the marginalized sectors themselves who made the recommendations and together, we collaborated in the implementation,” he said. There were already 70 projects under BuB scheme which were implemented in Cagayan de Oro City since 2014 under the stewardship of the City Poverty Reduction Action Team (CPRAT). Seventy-five percent of these projects were financed by the national government and 25 percent by City Hall. With the scrapping of the BuB scheme, Mr. Moreno said funding for future projects of CPRAT would definitely now come from the appropriations by the city government. (Mark D. Francisco)
positive in times of your emotional struggles because it is wrong to make a decision. Almost emotional people went wrong when they made a decision in life .Do you notice that if you are in emotion; you cannot think and do the exact things because you are grounded by your feelings? Let the time heals the pain, wound and agony within in order that; you can decide the right things
Biblical reflection and can do the exact things. Do not force a certain thing to happen to you if the time not yet permitted you to do so. Everything has its own timing. Even the stability of your within has its own time. Ecclesiastes 3:1”There is an appointed time for everything: Printing paid by: Edith Ranoa, PhD- Major Tony Jordan and Crespina Ranoa - Bobong Balino– Cagayan De
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July, so they could determine which would be prioritized in government-sponsored PhilHealth enrollment and eventual coverage. In the DSWD list, it was discovered that there are 485,539 households in Northern Mindanao which are classified as poor. “For now, we are 92 percent covered nationwide already. So we are targeting the remaining eight percent,” PhilHealth regional vice president Masiding M. Alonto Jr. One of the strategies of PhilHealth is to put up more business centers all over the region. The state-operated insurer opened last Monday its second business center for Cagayan de Oro in barangay Carmen. “Because 35 percent of the population in CDO comes from barangay Carmen, that’s why we choose to put up shop here,” Alonto added. A business center receives membership, claims verification and accounts monitoring services. Payments may be catered at the nearby branch of the Asia United Bank, located within the same complex at Starry Bldg., Max Suniel St. There are a total of 15,000 employers in Cagayan de Oro which remits regularly to PhilHealth and Pamolong said they need to monitor these closely, thus, the need to put up more business centers.
lubricants, allowing for greater engine efficiency and power. Types of additives that are sold in both major and small players in the country include metal deactivators, oxygenates and antioxidants. “Barato ra tuod imo palit pero dali ra pud maguba ang imong makina,” Mr. Lao said.
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Bro. Edcel L. Closas
Oro: # 09187148435: Please have my latest book: To Make Your Soul Incredible:Note: God bless you!!! With this development, the two councillors are currently drafting an ordinance to make it illegal the sale of petroleum products outside of accredited gas outlets. The two are expected to announce their measure in the next session of the City Council on Monday. The structural damages of the fire that engulfed Mr. Joel Apuz Sr.’s house last Monday was pegged at P80,000.
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Mindanao DAILY Aggie News THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT
Wednesday, August 3, 2016
DA-10 joins BROWN4good campaign In line with the Department of Agriculture’s (DA) goal to achieve rice self-sufficiency while promoting better health, the Be RICEponsible campaign that started in 2013 is moving on as it encourages consumers to have brown rice as part of their menu. The BROWN4good project introduces brown rice as an alternative staple to white rice ensuring not only enough food on the table, but also adequate nourishment for the consumers. Brown rice is being promoted nationwide as it could boost farmers’ income as it save the 10% post harvest losses during milling. Likewise, it can help ease malnutrition because of its additional nutrient content. Brown rice is the whole grain or unpolished rice. It is nutritionally superior to white rice in terms of fiber, protein, good fats, vitamins B1, B2,
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B3, B9, and E, minerals, and antioxidants The so-called brown rice is not a variety but a paddy or rough rice (palay) without the outer covering called hull or husk. It is the rice that did not go through polishing during milling that is why it still has the bran and germ, making it called unpolished rice. The bran is responsible for its light brown or tan color, nutty taste and chewy texture. The national launching of BROWN4good is scheduled on August 30, 2016. Activities lined-up during the launching includes cooking contest with brown rice as the main ingredient, feeding program to day care centers, among others. DA is encouraging everyone to be part of this campaign. For more information and queries, please contact DA-RAFIS at 8802914. ### sva
BDO earns P13 billion in 1H 2016, up 13% BDO Unibank, Inc. (BDO) sustained its solid pace in the first six months of the
year to post a 13% yearon-year increase in net income to P13.2 billion.
This was a result of broadbased improvement across the Bank’s businesses and
a one-time gain from the consolidation of BDO Life. The Bank’s core
VICE GOV JOEY PELAEZ and PBM JIGJAG PELAEZ AUTHORS A RESOLUTION CALLING FOR THE POSTPONEMENT OF THE OCTOBER 2016 BARANGAY AND SANGGUNIANG KABATAAN ELECTIONS – The Sangguniang Panlalawigan of Misamis Oriental has passed a Resolution strongly urging President Rodrigo Roa Duterte and the 17th Congress to postpone the conduct of the October 2016 Barangay and Sangguniang Kabataan elections to coincide with the election of delegates to the preferred Constitutional Convention that will propose ammendments to the 1987 Philippine Constitution Vice Governor Pelaez believes that the government has yet to recover from the 15.65 Billion peso expenditure it spent on the recently held 2016 local and national elections. The budget alotted for the impending barangay and sk elections would be better spent on other government programs especially in funding the requirements of Senior High Schools of DepEd. He adds that the barangay elections will be best held simultaneous with the election of delegates to the prefered Cinstitutional Convention, thus avoiding the conduct of elections with just a short period of time. Vice Governor Pelaez, in his capacity as Vice President for Mindanao of the League of Vice Governors of the Philippines, has also sought the support of his fellow Vice Governors from all over the country specifically requesting them to pass a similar Resolution passed by SP MisOr.
lending, deposit-taking and fee-based businesses drove the Bank’s performance during the period. Customer loan portfolio grew to P1.4 trillion, outpacing the industry with a 21% rise. Total deposits went up by 17% to P1.8 trillion, driven by the 23% jump in low-cost (CASA), comprising 69% of total deposits. As a result, net interest income advanced by 17% to P31.7 billion. Fee-based service income rose by 18% to P10.6 billion, generated from the Bank’s investment/wealth management, payments/ electronic banking, capital markets and insurance businesses. Trading and foreign exchange income normalized and contributed P2.9 billion for the semester. Other income inclusive of the one-time gain from the consolidation of the Bank’s life insurance business settled at P8.6 billion. Without consolidation effects and one-off gains, other income grew by 13%. Operating expenses increased by 31% due to the consolidation of ONB and BDO Life
which were absent in the comparable period last year. Excluding ONB and BDO Life, operating expense growth would have been 12%, driven by higher manpower costs arising from CBA renegotiation last year, one-time expenses, as well as volume-related costs on the Bank’s business expansion. The Bank continued to be conservative and set aside P1.7 billion in provisions even as asset quality remained stable. Gross non-performing loan (NPL) ratio was steady at 1.3%, while NPL cover remained high at 153%. The Bank’s capital base stood at P211.1 billion, with Common Equity Tier 1 (CET1) and Capital Adequacy Ratio (CAR) all remaining above the current regulatory minimum under the Basel III framework. Looking ahead, BDO hopes to continue its strong performance as it leverages on its solid business franchise, strong balance sheet and strategic initiatives to tap its target markets and take advantage of the country’s growth opportunities.