BusinessDaily (August 14, 2013)

INSIDE LOOK

Stage set for consideration of FOI Bill; Almonte heads public info committee

Rustans to open 15 Shopwise stores

BusinessDaily Del Monte records loses in 2Q Corporate World

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Congress Watch

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Volume III, No. 276

Market Indicators

As of 6:12 pm AUG. 13, 2013 (Tuesday)

FOREX

PHISIX

US$1 = P43.74

6,554.62 points

8 cents

X

110.81 points

X

Briefly No rice shortage MALAYBALAY City -- The National Food Authorit y (NFA) here assured the public that there is ample supply of commercial rice and affordable government rice in all public markets, while dispelling fears that there is rice shortage due to the effects of lean season.

NFA Bukidnon Manager Victoria Real-Duray said there is price increase in commercial rice during the months of July, August, and September because this is planting season, and traditionally, rice traders take advantage of this lean harvest time of the year to rake in more profit.

She suggested that local residents should patronize government rice sold at only P27 per kilo in selected public market stalls, instead of buying high-priced commercial rice.

Inclusive growth THE National Economic and Development Authority (NEDA) said the government is stepping up its efforts to remove constraints to inclusive development by allocating P399 billion for public infrastructure projects in 2014.

Socioeconomic Planning Secretary Arsenio M. Balisacan noted that this amount is 35-percent more than the P295 billion appropriated this year for infrastructure development. “ The dramatic surge in infrastructure spending next year will lower the cost of transporting goods and people, support agricultural productivity, reduce risks from disasters, and generate economic investments and employment. The proposed projects will ultimately benefit the poor and vulnerable sectors,” said Balisacan.

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PHL central bank pushes for P200-B capitalization

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Normin’s top export in sorry state of decline Cagayan de Oro City

Wednesday

A

August 14, 2013

By BUTCH D. ENERIO, Correspondent

PRIME industry that contributes the biggest chunk of export earnings for northern Mindanao, would be at a sorry state 10 years from now if no measures will be instituted for its sustainability.

The Philippine Coconut Authority (PCA) sounded the alarm over what it calls “government’s continued inaction” to address the concerns of the coconut

industry where a seeming decline of production is now felt in some areas.

Luis Cruz, PCA regional ma nager of nor t hern Mindanao, said that despite

current favorable outlook of coconut and its by-products due to high demand, there is no guarantee that the industry will continue to be an export earner.

“Export is good, but the supply base is getting weaker and weaker.” Cruz said At present the coconut industr y contributes 70 percent of the total export earnings of the region. export/PAGE 11

COCO INDUSTRY FACES COLLAPSE? A woman makes brisk business selling coconut juices for refreshment along the city sidewalk. Industry officials warn that without specific programs, the coconut industry in northern Mindanao, which consists the biggest bulk of the region’s exports, is facing serious decline in the next ten years.

mindanao outlook

Is Mindanao ready for the ASEAN integration in 2015?

By BONG S. SARMIENTO, MindaNews

DAVAO Cit y — Ta ke away Mindanao from the Philippine equation and the country’s agricultural production will drastically plummet.

Last yea r, Minda nao earned at least $3 billion from agricultural exports, accounting for 60 percent of t h e c ou nt r y ’s t ot a l agricultura l exports,

data from the Mindanao Development Aut horit y (MinDA) showed.

T he tota l ex por ts of t he isla nd, i nclud i ng n on- a g r i c u l t u r e b a s e d commodities grew by 16.7 percent with a value of $4.187 billion in 2012 from $3.588 billion in 2011.

The 16.7 export growth outlook/PAGE 11

HOMELESS CHILDREN. An eleven year-old girl put to sleep her two years old sister in a cardboard along a busy pedestrian lane in downtown Cagayan de Oro City. bwm file photo

Eastern Petroleum to fast tract 20-MW biomass plant in Agusan

By IRENE DOMINGO, Reporter

ECONOMIC INTEGRATION. South-East Asia is set to become smaller and more interconnected with the ambitious economic integration plan set to become reality by the end of 2015.

S OL I DI F Y I NG it s bid to diversif y into power generation, Eastern Pet roleu m C or p ha s embarked into a biomass project that is capable of producing 20-megawatt of

clean power in Agusan del Norte.

In a press statement released on Monday, Eastern Pet roleu m Cha i r ma n Fernando L. Martinez said t he company is a lready

wrapping up the feasibility study for the project and aims to complete pre-production work next month.

The remaining studies include soil and hydro tests on the project site in Butuan biomass/PAGE 11

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AMCHAM eyeing DavSur DAVAO CITY—Officers of the American Chamber of Commerce of the Philippines, Incorporated (AMCHAM) from the cities of Manila and Cebu recently gathered at a hotel here to explore, and discuss possibilities of business opportunities and ventures in

Mindanao – particularly in the province of Davao del Sur. AMCHAM-Philippines Execut ive Director Ebb Hinchliffe said the aim of the gathering is to discuss the possibility of investments in Davao, and in Mindanao. “ We b e l i e v e t h a t Mindanao is a good place to do business,” Hinchliffe said.

He added various organizations and associations in the country have been promot ing Mindanao as a destination for American businesses.

For h is pa r t , Davao del Sur Governor Claude Bautista urged the members of AMCHAM-Philippines

to come, and invest in his province.

“D av ao de l Su r h a s great potentials for capital i nvest ment, a nd hig h ly credible business territory,” Bautista said.

He said Davao del Sur is also considered one of the major rice producing provinces in Region-11, where at least eight municipalities are engaged in rice and corn produc t ion, cu lt ivat i ng around 24,000 hectares of land, or 26 percent of the total land area of the province.

As he stressed that some 30,000 hectares of land or AMCHAM/PAGE 8

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The veneer of a ‘robust economy’ is beginning to crack

By BEN D. KRITZ

MEDIA observers outside the country have for some time viewed the Philippine economy under the stewardship of President Benigno Aquino III with a mixture of bemusement and concern. By the conventional measures used to provide a snapshot of any economy, the Philippines is indeed doing well. After an anemic start, gross domestic product (GDP) growth has exceeded most expectations during President Aquino’s term; the local stock market—which still primarily reflects the performance of local corporations, despite all the focus on foreign equity investments, or “hot money”— has been performing very well, and significantly, has apparently corrected itself from an overheated level in a reasonably controlled manner; and other indicators such as the debt-to-GDP ratio and the inflation rate have remained at levels that seem normal.

These good indicators, however, exist side-by-side with other ones that would ordinarily paint a very different picture—a rate of poverty incidence that is growing faster than the income gap, and persistent veneer/PAGE 8

Energization of remote areas pushed BUTUAN CITY—At least 7,000 households are set to enjoy the convenience of having electricity in the remote areas of Agusan del Norte, and in the cities of Butuan and Cabadbaran, once the energization project will be implemented in the identified communities.

This development came after the 16th Sangguniang Pa n la law iga n (SP) unanimously approved in its regular session Resolution No. 011-013, requesting

the Department of Energy (DOE), through the Aboitiz Power Company, to fund the energization of the far-flung communities in the three areas.

Under the resolution, the SP asked the Aboitiz Power Company to provide t he ne c e s s a r y f u nd i ng amounting to P24,352,325.15 for the energization of the 36 sitios of the identified remote barangays (villages).

SP Member Rey G. Jamboy, who authored the resolution,

said the Agusan del Norte Electric Cooperative (Aneco), under its Sitio Electrification Project, already named the sitios and villages under the seven local government units (LGUs) where the electric connections will be implemented.

According to Jamboy, t he prov i nce is a i mi ng for t he development of the villages through the ele c t r i f ic at ion proje c t , and providing the basic facilities, while believing

that the implementation of the project will provide various opportunities to the remote areas.

Providing electricity to the remote areas of Agusan del Norte is one of the priority projects of the provincial gover n ment , u nder it s economic strategy based on the Provincial Development Investment Plan.

For his part, ANECO general manager Horacio T. Santos said that majority pushed/PAGE 11

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Del Monte records loses in 2Q

Expansion, acquisitions lift Puregold earnings NEW stores and acquisitions pushed t he ea rnings of Puregold Price Club Inc by nearly half in the second quarter of the year.

In a regulatory filing on Tuesday, the Lucio Co-led retailer said its consolidated net income increased by 44 percent to P811 million

in the April to June period from P565 million in the same period last year.

This brought earnings of the country’s second biggest grocery operator to P1.77 billion in the six-month period, an improvement of 72 percent from P1.03 billion puregold/PAGE 10

PH I L IPPI N E A i rl i nes (PAL) on Tuesday said it is hiring more cabin crew in preparation for the delivery of it new aircraft.

In a statement, PAL said it will hold a job fair at the San Miguel Corphead office in Ortigas Center on August 17.

Registration and screening of applicants will start at 8:00

a.m., while processing of applications will last until 5:00 p.m.

Appl ic a nt s mu s t b e Filipino citizens, not more than 27 years old, hold a college degree, and can communicate well in both English and Filipino.

Female applicants must be single and at least 5’3” in PAL/PAGE 10

PAL hiring more cabin crew

ONE-time expenses from its Philippine listing and unrealized foreign exchange losses weighed on Del Monte Pacific Ltd’s profit in the second quarter.

In a disclosure to the Philippine Stock Exchange on Tuesday, Del Monte Pacific said its net income rose two percent to $6.1 million in the April to June period, slower than the 17 percent expansion to $6 million in the same period last year.

“The group incurred one-of f fees in relat ion to the dual listing of its shares on the Philippine Stock Exchange in June and also incurred an unrealized foreign exchange loss due to the weaker peso against the US dollar in May and June which affected translation of trade payables and loans,” the listed company said.

E xc lu d i n g t he nonre c u r r i ng e x pens e a nd forex impact, the food-andbeverage firm’s net income would have increased by 13 percent in the second quarter.

Del Monte Paci f ic pocketed $10 million in the first half, a growth of two percent from $10.4 million last year.

Sales jumped 11 percent to $121 million in the threemonth period from $108.9 million in 2012 buoyed by the eight-percent growth of

the branded business and 21-percent expansion of the non-branded business.

“The group’s branded business continues to grow st rong ly, suppor ted by improved trade coverage and advertising, entry into new markets, and increased capacity of the ready-todrink beverage which came on stream in June,” said Joselito D. Campos Jr, Del Monte Pacific managing director and chief executive officer.

“Our initiative to expand sales of higher margin valueadded products led to a better sales mix and much improved

margins,” Campos said.

The listed company’s branded business, comprising of Del Monte in the Philippines and the Indian subcontinent, as well as S&W in Asia and the Middle East, accounts for 66 percent of total sales, while the non-branded segment contributes the remaining 34 percent.

Riding on strong domestic consumption, sales in the Philippines went up eight percent anchored on the double-digit growth of the processed fruit and culinary segments. The increase in the firm’s beverage capacity

will sustain overall growth in line with its strategy to shift from pineapple juice concentrate for the export markets to branded beverage not just in the Philippines but also in the S&W markets.

T he S&W bra nded processed segment delivered a nine percent growth in turnover in t he second quarter, while the S&W branded fresh business grew 21 percent driven by robust sales in Japan, China, Middle East and Singapore.

The non-branded business, comprising of industrial and private label records/PAGE 10

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Brgy. execs to get incentives BARANGAY officials will soon get additional incentives they deserve for all their services in the countryside under a bill citing their role as active leaders in the rural areas.

Davao Cit y Rep. K a rlo A le xei Nog r a le s authored House Bill 1693 or the proposed “Barangay Incentives Act of 2013,” which seeks to promote a nd en ha nce ef f icienc y and responsiveness among ba r a ngay of f ic ia l s a nd employees.

“These are government workers who make democracy work at the grassroots level in the smallest territorial and political subdivision of the government which is the

barangay,” Nograles said.

Und er t he bi l l, t he sa laries of bara ngay officials, including Barangay Tanods and members of the Lupong Tagapamayapa shall be exempt from income taxation.

All barangay officials and employees shall be considered members of the Government Service Insurance System (GSIS) and shall be covered wit h life insurance and social security protection, i nclud i ng ret i rement,

disability, separation and u nemploy ment benef its and such other benef its that may be extended by the GSIS, subject to limitations provided by law.

Bara ngay of f icia ls w ill a lso be covered by government medical and health insurance programs.

Barangay officials and employees who may be involved as party litigants in administrative or criminal cases filed in connection with the performance of

their duties shall be entitled to the free legal services of the Public Attorney’s Office (PAO) who shall facilitate the legal representation of such officials and employees by a counsel. (HoR)

CAGAYAN de Oro Cit y second legislative district Rep. Rufus Rodriguez has urged the Philippine Charity Sweepstakes Office (PCSO) and Philippine Amusement and Gaming Corp. (Pagcor) to reduce the amounts they set aside as intelligence funds.

In the course of a House appropriations committee hearing, Rodriguez said he could not understand why t he two gaming entities need funds for intelligence gathering.

He said Pagcor and PCSO are not military and police agencies and should not set aside funds for intelligence purposes.

He said such funds could better be used for charity, like the grant of medical assistance to the poor, which he added is part of the job of PCSO and Pagcor.

He suggested that if the two agencies need to spy on and investigate syndicates and people victimizing them, they should leave that task to the police.

R e s p o n d i n g to Rodriguez’s appeal, PCSO genera l ma nager Jose Ferdinand Rojas II said that their intelligence funds were down to P10 million from P360 million during the Arroyo administration.

He said he and PCSO

chair Margarita Juico share the P10 million at P5 million each, but that they use only P3 million of their respective allocation.

Former President Arroyo and several PCSO board members and officers are facing crimina l charges

before the Sandiganbayan for allegedly misusing the agency’s intelligence budget.

E ach boa rd member used to have his or her own intelligence funds, which they did not have to account for in detail. rodriguez/PAGE 10

Rodriguez urges PCSO, Pagcor to reduce intelligence funds

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Reorienting the legislature

By TITA C. VALDERAMA

THE raging debate over an estimated P10-billion pork barrel scam has brought to the fore the need to reorient the legislature.

Often, lawmakers are referred to as solons, but those who have read about Solon think and believe it is an insult to the Athenian statesman.

Solon, born in 638 BC and died in 558 BC, was regarded as a wise and skilful lawmaker, and considered one of the Seven Wise Men of Greece.

He was credited for his efforts to legislate against political, economic, and moral decline in the ancient Athens. His reforms were said to have failed in the short term, yet he is often credited with having laid the foundations for Athenian democracy.

The descriptions about Solon in history books and research materials do not fit the qualities we know and hear about the present crop of legislators. Does any one of them stand out to deserve being called a solon? It’s like looking for a needle in a haystack.

Anyway, discussions about the multi-billion peso PDAF scandal involving Janette Lim-Napoles through a network of allegedly bogus non-government organizations, call for a reorientation of job descriptions in government.

Legislators – senators, congressmen, provincial board members, city and municipal councillor – should make laws. The law-making process does not directly or implicitly include identification of project contractors and beneficiaries.

The job of implementing projects with funding provided by legislators belongs to the executive branch of government.

Ideally, executive officials and legislators should be independent of each other. But in reality, they become cohorts. Blame it on the persistence of patronage system in our political structure.

For years, efforts to reform the pork barrel system have yet to show satisfying results. Year after year, we hear of more shocking scandals involving the pork barrel, officially known as Priority Development Assistance Fund (PDAF).

As a reporter, I covered Congress for 15 years, spanning five terms at the House of Representatives, from 1992 to 2007. PDAF was f irst k nown as Countrywide Development Fund (CDF ). It was transformed into PDAF under then Budget Secretary Benjamin Diokno when projects and activities that can be funded were limited.

Projects for the construction or concreting of basketball courts, waiting sheds, purchase of books, flip charts, and the like were excluded from a menu of activities for PDAF funding.

Because of the pork barrel— P200 million a year for each of the 24 senators, and P70 million for each of the 289 members of the House of Representative in the current Congress—many legislators seem to forget about their primary task of lawmaking as they tend to focus more on projects to which they can attach billboards with their oversized photos and names.

Those are their “investments” for the next election.

At P200 million for each of the 24 senators, that legislature/PAGE 10

Solon urges the Senate to ratify MARPOL Stage set for consideration of FOI Bill; A LAWMAKER has urged the Philippine Senate to ratify MARPOL, an International Convention for the Prevention of Pollution from Ships.

Rep. Douglas Hagedorn (3rd District, Palawan), author of House Bill 99, said in the East Asian Region, only the Philippines and Thailand have yet to ratify the treaty.

Hagedorn said a total of 152 states representing 99.2% of the world’s shipping tonnage have ratified the MARPOL. According to Hagedorn, the bill or the proposed Prevention of Pollution from Ships Act of 2013 seeks to address the limitations and weaknesses of Presidential Decree 976 and other related laws, and to come up with a comprehensive but relevant measure.

“The bill aims to implement the provisions of MARPOL 73/78 as modified by protocol

of 1978 and other protocols and annexes of which the countr y is a par t y to,” Hagedorn said.

At present, Hagedorn said the only law that has legal basis insofar as the prevention and control of marine pollution is the Marine Pollution Decree of 1976.

Hagedorn said MARPOL is not sufficient enough to deal with the pervasive emissions and discharges of polluted eff luents and wastes from ships.

“What is worst is the overlapping jurisdictions among government agencies as far as the prevention of pollution from ships have instigated confusion among stakeholders and implementing agencies,” Hagedorn said.

Hagedorn said the measure would clearly define and delineate functions of the

Philippine Coast Guard (PCG), Maritime Industry Authority (MARINA), Department of Environment and Natural Resources (DENR), Local Government Units (LGUs), Philippine Ports Authority (PPA) a nd ot he r p or t authorities.

The measure creates the Marine Pollution Adjudication Board, which is vested with quasi-judicial powers to adjudicate marine pollution cases.

“To address the immediate and comprehensive rehabilitation of marine environment damage as broug ht about by sh ip operations, the measure provides for a mechanism for environmental guarantee to be institutionalized to finance the needs for emergency response, clean-up or rehabilitation of areas that may be damaged,” Hagedorn said. (HoR)

Almonte heads public info committee A FEW new actors have been given lead roles in the long-running saga in the Philippines over whether a freedom of information bill can pass Congress.

Rep. Jorge Almonte will chair the committee on public information, which last year delayed action on the bill under the chairmanship of Rep. Ben Evardone.

FOI supporters had pushed for Rep. Emmeline Aglipay to lead the committee, but had little expectation she, a junior House member, would be selected by the House leadership.

In the Senate, Sen. Grace Po e - L l a m a n z a r e s w i l l handle the bill as chair of the committee on public information. The FOI was ea si ly approved i n t he Senate in the 14th and 15th

congresses.

It stalled in the House committee in 2012, which approved it very late in the session. House passage was feasible, supporters thought, but it never got a push from President Benigno Aquino.

Despite his public support for FOI, the president has been cast by supporters as the behind-the-scenes director of a play that has yet to conclude with a pro-FOI ending. Similar concerns were voiced when the bill failed in the House in the closing says of the 14th Congress.

I n Ju ly, a “p e ople ’s version” of the bill was filed at the House of Representatives by the Right to Know. Right Now! Coalition.

Recently the House of Representatives’ research

body issued comments, commenting that implementation would be challenging and offering suggestions.

In a policy brief, the C ong ressiona l Pol ic y a nd Budget Resea rch D e p a r t m e n t (C P B R D) suggested manpower and almonte/PAGE 10

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Banks’ 1Q profits rise 87%

By Lee C. Chipongian

Rustans to open 15 Shopwise stores THE country’s first and original hypermarket, Shopwise, is currently being expanded with 15 branches set to open this year, a company official said.

Donnie Tantoco, president of Rustans Supercenters Inc., said that this year, the company is in the process of expanding Shopwise since it has established the brand.

“This year, we are opening 15 stores. We already opened about three. Next year we will open more,” he said, adding that should the company open 15 stores by the end of the year, it should be a record year for it.

According to him, the company is at the stage where it is comfortable with the format or model of its brands.

“We have a very clear model, a clear brand. And once that’s in place, the only thing left to do is expand,” Tantoco said.

“It’s really about being clear. Shopwise is about very clear, it’s about the value, the C market,” he added.

Asked if the company would want to increase the target by 20 stores, he only said: “I think so. Step by step. You don’t want to go so fast that the foundation is weak.”

Rustans Supercenters has three existing brands— Shopwise, Rustans and Wellcome—and according to Tantoco, Rustans is the fastest growing among the brands. rustans/PAGE 10

THE 36 big banks’ net profits in the first quarter of the year surged by 87 percent year-on-year to P56.95 billion boosted by its income from deposits, non-core trading activities and other revenues-based transactions.

“The banks have remained resilient,” the Bangko Sentral ng Pilipinas (BSP) said in its first quarter financial sector report.

As of end March, the universal and commercial banks’ non-interest income – these are from trading and investment banking activities – rose by 87.5 percent to P69.71 billion from the same period last year of P37.18 billion.

Trading in treasuries or securities continue to be one of the industry’s main sources of revenues. Non-interest income also includes the yearly and monthly account service charges and other fees imposed by banks on deposits and transactions.

Banks’ net interest income slightly increased by 1.19 percent to P50 billion from P49.43 billion in March 2012.

These are income derived from lending and ot her

interest-bearing activities or banking transactions.

Based on data from the BSP, the 36 banks’ return on equity rate improved to 14.67 percent from the same period last year of 13 percent.

Return on assets was at two percent from 1.63 percent in the previous year while the banks’ cost to income ratio declined to 57.38 percent from 63 percent in March 2012.

The central bank said t he Phi l ippi ne ba n k i ng system remained resilient amid the lackluster global environment.

“Banks’ core ba lance sheets were marked by a steady grow th in assets, deposit base and capital accounts,” said the BSP. Asset quality also continued to improve and capital adequacy ratios remained at par with international standards, it added.

544 rural banks.

Based on their asset size, the top five Philippine banks are BDO Unibank Inc. of retail magnate Henry Sy, Metropolitan Bank & Trust profits/PAGE 10

Loan quality remains high although liquidity still rising

CSR draws Pinoy consumers SEVEN out of 10 Filipino consumers are willing to pay more for goods and services from companies that have i mplemented prog r a ms to give back to society, an increase of three points from 2011, according to a new study from Nielsen, a leading global provider of information and insights into what consumers watch and buy.

In the Nielsen Global Survey on Corporate Social Responsibilit y in which more than 29,000 Internet respondents were surveyed in 58 countries, 75 percent of surveyed consumers from India showed the strongest willingness to spend more for good s a nd ser v ices from socially-responsible companies.

Consumers f rom t he Philippines’ neighboring cou nt r ie s i n S out he a st Asia, Thailand (68%) and Indonesia (66%) likewise indicated strong willingness. “ The posit ive v iew of Fi l ipi no c on s u me r s towards corporate social responsibility runs high.

In order to continue getting the support of consumers, a u t h e n t i c i t y i s k e y.

Companies should ensure that their socia l impact programs remain true to the company’s vision, values and business objectives,” says St ua r t Ja m ieson, managing director of Nielsen Philippines.

Nielsen’s information reveals that consumers in Southeast Asia are most likely to say they had spent more csr/PAGE 10

The BSP is supervising 687 banks as of end of the first quarter. These banks operate 9,477 bra nches nationwide. There are 36 universal and commercial banks, 70 thrift banks and

PHL central bank pushes for P200-B capitalization THE Bangko Sentral ng Pilipinas (BSP) has propose to raise its capitalization to P200 billion from P50 billion to boost its financial strength and to be more credible and effective as an independent central monetary authority.

The BSP has initiated discussion of the proposed amendment to the central bank charter and calling for a 300 percent increase in capitalization is the most crucial change so far, as well as being granted the authority to issue its own bonds or debt papers.

Government sources said BSP officials have already discussed the proposal to raise the capitalization during a meeting recently with the Legislative Executive Development Advisory Council (LEDAC) workshop group.

“The proposal to raise capital to P200 billion has been presented to LEDAC,” said the source. The amendments to the New Central Bank Act of 1993 (Republic Act 7653) has not been confirmed yet as one of the priority measures of LEDAC, which discusses the government’s legislative agenda and also serves as a mechanism to push

for Congressional action on any pending common legislative agenda.

The BSP’s eroding net worth has given new urgency for the BSP’s proposal to increase its capitalization.

The BSP’s financial position has been in the red for the past three years, its net worth has dropped to P64.52 billion at the end of 2012 from P140 billion in 2011 and P171 billion in 2010.

Twenty years ago the government, under Section 2 of RA 7653, agreed to provide the BSP P50 billion in capital, however in 1993 the NG deposited only P10 billion. It was 18 years later when the next P10 billion was remitted in 2011, and then another P20 billion was released to the BSP last year, bringing the total of P40 billion at the end of 2012.

After a review and study of how much capitalization it would require, the BSP assessed that a P200-billion amount is enough to have the increased ability to craft policies to ensure macroeconomic stability. It would also be enough to enable pushes/PAGE 10

ALTHOUGH lending activities have accelerated, loan quality has not suffered and banks kept their gross nonperforming loans (NPL) low at 2.75 percent of portfolio in May this year, the Bangko Sentral ng Pilipinas (BSP) said.

NPLs amounted to P101.37 billion in May, about P2 billion lower than the P103.92 in the same period last year.

This was, however, higher than the P100.61 billion NPLs in April, or about 2.74 percent of the total loan portfolio that month.

The BSP said the downward trend in NPLs was seen across economic activities such as financial intermediation, real estate, manufacturing and wholesale and retail trade. These four economic activity groups collectively represent 62.39 percent of all loans of universal and commercial banks.

NPLs are more popularly known as bad or soured loans as these remain unpaid about a month after their due date.

NPLs flag credit standards and indicate the quality of assets held by banks.

“Low and generally declining NPL ratios indicate that universal and commercial banks are taking proactive steps to ensure that their respective credit portfolios adhere to high standards,” the BSP said in a statement.

“The latest figure is consistent with the longer-term trend of a general decline in the amount of gross NPLs. While this is already an indication of strong credit-risk management on the part of universal and commercial banks, the trend is made more impressive by the fact that the total loan portfolio [TLP] continues to rise,” the BSP added.

The TLP of universal and commercial banks reached P3.69 trillion in May, higher than the P3.67 trillion in the previous month. May’s sour loans ratio, according to the BSP, is the ninth consecutive month that this ratio has been below or equal to 3 percent.

The BSP also reported that the total loan loss reserves as of May this year was at P130.26 billion, which translates to a gross NPL coverage ratio of 128.5 percent.

“Although their gross NPL ratio has been declining, universal and commercial banks continue to proactively set aside reserves for potential losses from loans… . At current levels of gross NPL coverage ratio, banks have effectively set aside a greater amount of funds than their outstanding NPLs,” the BSP said.

The net NPL ratio was also constant with the previous month’s 0.44 percent. Net NPLs are computed by deducting loan-loss provisions for specific amounts from the gross NPLS. The BSP earlier required Philippine banks to report both the gross NPL and net NPL to be ‘more transparent as it gives a fuller picture of the gross amount of NPLs and the full extent of allowances for probable losses.’ (BM)

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Power shortage

T

THINK

hink a minute …Have you ever thought to yourself: A Minute “I know what I should have By Jhan Tiafau Hurst done, but I didn’t do it!”

How ma ny times have you felt that way?

It ’s a s t r u g g le we a l l fight—every day!

T he consta nt bat t le b e t we e n w h a t we k n ow we should do and what we actually do.

Between our conscience and how we really live.

Why can’t we simply do what we know we should?

It’s even what we really want to do in our heart.

Our problem?

We have a power shortage in our lives—a shortage of will power.

We’re like this couple whom I know.

The husband and wife both are marriage counselors, but they’ve now divorced each other!

They’ve counseled hundreds of other married couples, yet they themselves cannot work out their own marriage problems.

They know all there is to know about a good marriage relationship, but they can’t do it themselves and follow their own advice.

We all know that honesty is the right, best policy.

Yet, corruption and dishonesty is everywhere!

People know that loving and giving to others is the happiest, best way to live.

Yet we still are proud, competitive, jealous, and even hurt the people we want to love.

Wives and husbands know that cheating on each other, or their addiction to alcohol is destroying their family. Yet they keep doing it!

So is this just the way we humans are?

Will we ever have the will power to do what we know we should?

You see, this is why Jesus Christ came: to connect us to the power of God, so we can finally have all the will power we need to live up to our potential and live the way we know we should.

Jesus came to forgive us so that we could have a hurst/PAGE 7

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L

Plunder for P900 M Malampaya fund misuse

IFE’S INSPIRATIONS: “… Remember your Creator in the days of your youth, before the days of trouble come…” (Ecclesiastes 12:1, the Holy Bible).

-ooo PLU NDER FOR P90 0 M M A LA MPAYA FU ND MISUSE: Justice Secretary Leila De Lima hit the nail on the head by summoning the mayors, past or present, whose names appear as having requested for, or received, parts of the P900 million from the Malampaya gas fund which, though intended to rehabilitate towns and cities devastated by Typhoons Ondoy and Pepeng in 2009, were allegedly stolen by a businesswoman and her family.

When the mayors appear either before the Department of Justice or the National Bureau of Investigation, their statements could already be ta ken, and then utilized as evidence in any criminal case that maybe filed against the businesswoman and her family, and all the government officials who may have conspired with them in pocketing the P900 million.

The case t hat cou ld be f i led is plunder, under Republic Act 7080, which, because it is punishable with life imprisonment, is non-bailable, and would

ensure the imprisonment of akampi a l l t hose i nvolved wh i le Mo A ng Batas t he c a s e i s b e i n g t r ie d .

By Atty. Batas Mauricio I n pa r t ic u la r, pocket i ng millions from the Malampaya gas fund constitutes “misappropriation, conversion, misuse, or ma lversation of public funds or raids on the public treasury” under Section 1 (d) (1) of the law.

-ooo DE LIMA MUST SUMMON MANY MORE: But then, if De Lima wants a wider probe, she must also summon former mayors and congressmen whose names were also included as recipients of the P750 or so million agricultural fertilizer fund from the Arroyo government in 2004. Since the DOJ and the NBI have already started investigating the misuse of billions in government funds under the former regime, they might batas/PAGE 7

K

We have no control “WE cannot choose our external circumstances, but we within our power. usiness can always choose how we respond to them.”

But not in our power are he O f H appiness - Epictetus the thoughts and actions of

By Girlie Gualberto-Suan others.

Keep your eye always on his is a very liberating idea.

Most of us think that we have control over the that thin boundary line, so that you will not be tempted things that happen to us.

We imagine that we are in command of the situa- to extend your control over other people. tion.

For when you cross the We believe that we have mastery over our lives. boundary, you will surely And thus we grow into crazy control freaks.

Life will be a lot easier and happier when we realize meet with resistance and that we are as puny as an annoying mosquito doomed conflict.

Then you will find yourto be flattened.

When we try to arrange people and circumstances self wrestling with suffering, to fit our grand plans, it has the same effect as bang- bleeding and on your knees.

The pain will make you howl against fate and men, ing our head against a brick wall. Useless!

The formidable power we presume to have, is in when in reality it is your ignorance and arrogance, reality limited only to our response to the things that that has brought upon your miserable circumstance.

Gracefully accept that the things within your comhappen to us. mand are only those that are internal, that are inside Beyond that, we are impotent. Powerless!

Since the only power we have is in how we choose of you. to respond to our own situation, let us respond wisely But those that are external, that belong to others, are not for you to command. and well.

This will take a huge load off your mind, and the We are not victims of our circumstance.

We still have our last freedom, the power to choose! burden of responsibility will perch lightly on your shoulders.

Let us use this freedom in a most advantageous way, by choosing to respond You will not put blame on any man, and no man can accuse you of blame. with a positive, cheerful attitude.

Our opinions, thoughts, desires and actions are suan/PAGE 7

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B

T

I

Making time timeless

T’S a question of love. It’s a question of how we understand time, how we manage it, what we think its real objective is.

We all know that time is some kind of measure that gives us an idea of the past, the present and the future.

It gives us an idea of before and after, so basic in our system that we hardly give it any thought.

Yes, it’s a very demanding and unforgiving element in our life. It simply ticks away, relentless in its march and f low regardless of what happens in the world. And what has passed, has passed definitively, never to return again.

We cannot stop it nor make it run faster, unless we take it in a figurative way, or unless a lot of value added is given to it. That’s when we can say we have saved time or have multiplied it.

That’s why many people get ner vous when they consider the time element seriously. They invariably describe it as a most precious resource that should be used most prudently and most productively.

But put in the context of the over-all purpose of human life that includes our spiritual and supernatural calling, time acquires even more tremendous significance that we should know and appreciate.

This is when we know that time is first of all a gift from God, indispensable because of our human condition. It just did not erupt into existence on its own.

We have to be clear about this, because many of us just presume time as given, without making any effort to know where it came from and where it is supposed to go.

As a divine gift, it springs from the eternity of God and and Traces meant to inhere in it always.

By Fr. Roy Cimagala It’s not meant to be detached from God’s eternity, unless in our foolishness we choose to distort reality and remove time from eternity.

We have to be more aware, in fact, most keenly aware, of this crucial aspect of our time here on earth. Without getting unduly fuzzy about it, we should not be casual in our attitude toward it.

In itself, the passage of time has the savor of eternity, to which we are constantly invited to discover and taste. This is the challenge we have, and it requires nothing less than broadening our mind, and grounding ourselves more firmly on our faith, hope and charity.

In short, we are supposed to constantly exercise our faith, hope and charity to fathom the real and ultimate meaning of time, and to connect it to the eternity of God. In this regard, we have to take special care on how we manage our time, on what we use it for, etc., for on these questions depends our success or failure to make time timeless, that is, to make it acquire the character of eternity.

We have to develop the virtue of order therefore, cimagala/PAGE 7

HINTS

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SELF-DIRECTED LEARNING By: Nazaren A. Romano

Self-directed learning (SDL), as defined by Knowles, is a process in which individuals take the initiative, with or without the help of others, in diagnosing their learning needs, formulating learning goals, identifying human and material resources for learning choosing and implementing appropriate learning strategies and evaluation learning outcomes.

SDL, on the other hand, implies that a person may learn in isolation as well as with others. These others could be in the form of dyads, triads, or even bigger groups. He could learn from school or non-school personnel, his peers, and other human or non-human resources available.

Malaybalay water district chief among finalists in CSC’s Pagasa Awards MALAYBALAY CITY, Bukidnon, Aug 13 (PIA)—Malaybalay City Water District (MCWD) general manager Juanito C. Aroa made it into the list of semifinalists for the country’s 2013 Search for Outstanding Public Officials and Employees, Pagasa Award of the Civil Service Commission (CSC).

Aroa was among 10 individuals selected out of the 97 qualified nominations.

He was cited for transforming the MCWD into the center of excellent innovation through his self-coined “Triple L” approach implemented through “Local Water District-Local Water Utilities Administration-Local Government Unit (LWD-LWUA-LGU)” collaboration.

Recognizing the district’s tough financial limitations, Aroa was determined to address the growing population’s problem on water supply.

Through Triple L, which in this case, the LWD as lead implementer, LWUA as the project’s technical expert, and LGU as the financer, the P130-million Kibalabag Water Source Development Project, now named Malaybalay City Government Water Supply System (MCGWSS), was completed.

At present, MCWD source out more than 70 percent of its water supply from the Triple L-completed project for distribution to more than 86,000 city residents, maintaining the lowest minimum rate of P120 per month.

The “Triple L” concept spared MCWD from getting huge loans from LWUA and other finance institutions.

“Generally, it is the loan’s interest rate that makes water fees too heavy for most people. Hence, this saved the paying public from the brunt of increased water rates,” Aroa said in an interview.

His other f lagship project includes the P60 million Dalwangan Water Supply Development Project funded out of locally generated funds.

Consistent with his stand on “No loan policy,” he continued expanding water connections through prudent approach of generating resources.

awards/PAGE 11

Hurst... from page 6

right relationship with our Maker.

Knowledge isn’t your problem; you know what you should do.

It’s power that you need!

And Jesus has all the power you’ll ever need for whatever you face.

His empty grave shouts it loud and clear!

He’s got all the power, even over death!

And His power is yours— if you’ll ask Him to forgive you a nd t a ke comple te control of ever y area of your life.

Just Think a Minute…

Batas... from page 6

as well cast a wider net.

I a m su re t hat t hese former mayors and congressmen could provide a wealth of evidence that would unlock the doors to more misuse of government funds under the Arroyo presidency. The fact is that, there is a list of these former mayors and congressmen from the Commission on

Audit (if my memory serves me right), complete with t he a mou nt s t he y were supposed to have received.

I a m aw a r e o f t h i s list because I was given a copy, which I used to write columns naming the congressmen and mayors at t hat t ime, toget her with the fertilizer money that they were supposed to have received. The list scandalized many of those named therein, including t h e n Q u e z on C it y 3rd District Rep. Maria Theresa Defensor, who was said to have received P5 million for fertilizers in “farms” in the city. Defensor is a sister of Mike, a close political ally of President Arroyo.

-ooo MODERATING GREED IN GOVERNMENT: When t he late Sen. Rau l Roco asked me to run for the Senate under his Aksiyon Demokratiko Party in 2004--his second attempt for the presidency---he gave me that list, together with ot her docu ments which could be used to jumpstart a n i nvest igat ion. Faced with stonewalling officials,

News

BusinessDaily

7 Pushing coal plants in M’nao for profit

By TYRONE A. VELEZ of DavaoToday.com

Government says Mindanao’s energy crisis will be gone by 2015; but its solution to use coal-fired power plants worries environment advocates.

Energy Secretary Carlos Petilla presented to the 22nd Mindanao Business Conference that coal plants is the fastest and most stable way to provide energy supply.

He announced that two coal powered plants are under

construction in Mindanao and will begin operation by mid-2015, the 300-megawatts (MW) Therma South coalfired plant in the boundary of Davao City and Sta. Cruz, Davao del Sur owned by Aboitiz Power, and the 200MW Sarangani coal power plant of Sarangani Energy Corporation in Maasim, Sarangani owned by the Domingo family.

He further said three

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other projects are underway such as the 15-MW Diesel Power Plant by Mapalad Energy Generating Corporation in Mapalad, Dalipuga, Iligan City; the 15-MW HFO Peaking Plant by EEI Power Corporation in Magdum, Tagum City, and the 300-MW Mindanao 3 Geothermal Plant in Kidapawan, North Cotabato.

The five power projects would produce 580 MW according to the Mindanao

Power Monitoring Committee (MPMC) headed by Mindanao Development Authority (MinDA).

The MPMC also projected that by 2020, Mindanao’s dependence on hydro-power plants will be reduced to 24% from 56% this year, with coal-powered plants providing more than half of the island’s power capacity.

Juland Suazo, spokesperson of the environment plants/PAGE 10

POs benefit from livelihood assistance projects. Seven people’s organizations (POs) from Baroy, Lanao del Norte receive assistance from the Mindanao Rural Development Program - Community Fund for Agricultural Development (MRDP-CFAD), amounting to P2.5 million. These CFAD sub-projects include: Fish Pen Project of Lower Sagadan-Baroy Fisherfolks Association, Inc.; Cattle Production Projects (bottom left) of Empowered Farmers Association of Sto. Niño Village-Baroy, Inc. and Ransang-Dawis-Baroy Rural Improvement Club, Inc.; Banana Production Project of Upper Sagadan Banana Farmers Association Incorporated; and the Motor Trail Projects of Spring Source Farmers Association of Tinubdan, Inc. (bottom right), Riverside Farmers Association and Effective Farmers Association of Barangay Bato, Inc..“Nakatilaw na intawon kami anang kahayahay sa pag-agi sa among dalan, salamat kaayo”, Julieta M. Bongcarawan (top right photo, left), PO Chair of Spring Source Farmers Association expresses her gratefulness in the local dialect. (Finally, we can now experience the ease in transporting through the motor trail, thank you very much.)With 17 out of the 20 barangays in Baroy now benefitting from CFAD sub-projects, Mayor Rosa D. Olafsson (top right photo, right) is grateful for the program as she deemed it as means in uplifting the economic condition of the people in her town while posting a challenge to the beneficiaries in sustaining the project. Moreso, Regional CFAD Focal Person Allan P. Bacho (top right photo, center) reiterates the objectives of CFAD which centers on community empowerment and growth with social inclusion and poverty alleviation. “Ampingan ang proyekto, palambuon ang unsa ang anaa sa inyo ug ipadayon hangtod molungtad.” (Take care of the project, develop the resources that are available and continue and sustain these endeavors.), he concludes. vanessa mae s . siano, ds- rafid 10

I filed a petition with the Supreme Court to compel the Arroyo government to make available copies of those documents.

That petition was d ismissed by t he cour t, but then, it was actually overtaken by other developments that led to t he murder of a woman journalist from Mindanao.

Now, with De Lima and t he NBI pu rsu i ng t he investigation of these fund scandals, the death of the woman journalist may not have been wasted after all.

In fact, if De Lima plays it right, it might even make her president of this country some day.

In t he meantime, it is wel l for ever yone--in government a nd in t he pr i v at e s e c tor- - -to re me mb e r t h at it do e s not pay to be too greedy, e spec ia l ly w it h re spec t to government funds, for sooner or later, we w i l l have to account for what we have done. According to Ecclesiastes 12:14, “For God will bring every deed into judgment, including every hidden thing, whether

it is good or evil.”

-ooo R E AC T IONS? Plea se c a l l m e a t 0 917 9 8 4 2 4 6 8 , 0 918 574 0193 , 0922 833 43 96. Ema i l: batasmauricio@yahoo.com, m mau r iciojr111@g ma i l. com.

Suan... from page 6

You will have no enemies, and therefore, no harm will touch you.

How relaxing, how serene, to finally throw off the distorted notion that we rule the world we live in, that we are the sultan of our little fiefdom.

Let us just respond to whatever comes, with faith, optimism and wisdom.

Cimagala... from page 6

making appropriate pla ns a nd schedu les on a daily and weekly basis, etc., not so much for the purpose of effectiveness a nd produc t iv it y as for showing our love for God and for working always in tandem with him.

T h a t s hou l d b e t h e

abiding criterion to use when we start allocating time for the different things we need to attend to. We have to c on s t a nt ly a sk ourselves, “Is t his what God rea l ly wa nts me to do at this moment, or for t his a f ternoon, tonight, tomorrow, next week, etc.?”

Other guiding questions ca n be asked: “How much time should I allot to t h i s a c t i v it y? W h at precaut iona r y measures should I use to keep me always in contact with God, avoiding being swallowed up by the dynamics of an activity?”

Related to t he v ir tue of order are other virtues that can be helpful—the capacity to focus on the objectives with intensity and perseverance, to anticipate things, to be prudent and

f lexible as circumstances can change along the way, to remain calm and cheerful.

We also need to learn how to be patient and optimistic, as well as resourceful and creative. Most of all, we have to learn how to grow and glow in charity even in the drudgery of a routinary work, and how to handle tiredness and the different forms of pressures, physical, emotional, mental.

Making time timeless can indeed be truly exciting, c apable of t u r n i ng t he prose of ever y day into heroic verses of love and dedication. Lastly, we have to find time to rest, and that can only be with Christ who said: “Come to me, all you who labor and are burdened, and I will refresh you.” (Mt 11,28)

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

BusinessWeek Mindanao hosts Broadcasting, Cartooning seminar

T

by Irene Joy B. Dayo of Mindanao Daily News

o enhance young campus journalists and promote Journalism among students from various schools in the region, a Broadcasting and Cartooning seminar was held last August 10 at BusinessWeek Mindanao Media Center, this city. It was headed by the Training Director, Mr. Joe del Puerto Felicilda.

The broadcasting seminar is conducted to enhance students’ skills especially in radio broadcasting and article writing. The students have also participated in various simulations. They are also taught on various ideas with regards to news gathering.

These include overcoming stage fright, proper data gathering and conducting interviews.

“The facilitator also taught us on certain things and equipment needed in broadcasting team like the number of laptops allowed, printers required and presentation needed before a presentation,” Arbby Pamela Alcoran, a high school student who participated in the seminar.

They are also given with tips and guidelines to help them during the contest proper.

JOURNALISM TRAININGS - Campus journalists with their adviser/coaches from different provinces and cities of Mindanao participate in trainings on Radio Broadcasting and Editorial Cartooning facilitated by Mr. Joe del Puerto Felicilda (above) and below Mr. Alexis June E. Baslot (below), August 10, at the BusinessWeek Mindanao (BWM) Media Center in Cagayan de Oro City. Photo by Arjay S. Felicilda of Mindanao Daily News

NCCA now accepting project proposals for 2014

by Florienne Melendrez of MindaNews

T

he National Commission for Culture and the Arts (NCCA) is calling on cultural and art groups, individual artists, non-government organizations, local government units and academic institutions to submit project proposals for the 2014 NCCA Grants program.

Deadline for submission is on August 30.

Marlene Ruth Sanchez, NCCA deputy director, said during the “Salabat at Sining” press conference at the Philippine Information Agency-11 Friday that proposals should be in line with the theme “Filipino culture as the wellspring of national and global well-being.”

The theme is decided annually by the 19 committees of the NCCA based on the identified priority needs of the sector.

AMCHAM... from page 2

about 33 percent of t he total area in the province remains a great potential for business sites like agriculture, livestock production, and non-traditional crops for the world market.

“Davao del Sur is one of the leading banana and mango expor ters in t he country,” Bautista added.

T he prov i nc e h a s a 75-kilometer coastline, he said, which is considered as rich f ishing grounds, enabling a high catch of marine resources excellent for tuna and canning industries.

In terms of its workforce, the governor also disclosed that the province has a high literacy rate of 99 percent.

Its workforce, he said, is equipped with competent technical sk ills, English proficiency, and respectable work ethics.

Tr a n s p or t a t i on a n d communication facilities in Davao del Sur have also been appropriately developed, he

“Projects must establish culture as pillar of sustainable development, advance creativity and diversity of artistic expression, and promote a strong sense of nationhood and pride in being Filipino through culture and arts,” Sanchez said in calling for project proposals.

Grace Reytes, NCCA project development officer and cultural dissemination chief, said that they received at least 1,000 proposals last year but approved only about 450.

“The problem is some proposals are not geared towards the priority set by the committee,” she added.

Proposals should be submitted at their national office at Intramuros, Manila addressed to Marichu G. Tellano, chief of the NCCA’s policy, plan, formulation and program division.

Online submissions though their email info@ncca.gov.ph and pmd@ ncca.gov.ph will also be accepted if the documents are complete with

added.

The province also have a good peace and order situation, with the Philippine National Police (PNP) and the Armed Forces of the Philippines (AFP) closely col laborat ing, resu lt ing to the limited activities of the lawless armed groups, Bautista noted.

On t he ot her ha nd , AMCHAM-Davao President Sonny Dizon also urged his fellow members, especially those from Manila and Cebu, to consider Davao del Sur as a potential destination for business. (MB)

Veneer... from page 2

unemployment. For outside observers and people living in this economy alike, something seems just a bit off, but an explanation of what the problem is or what its likely impact will be is elusive. My own largely middle-class neighborhood just outside Metro Manila is a perfect example of the apparent paradox.

In the past two years, there has been visible economic growth:

the scanned signature of the head of the proposing institution or the individual proponent.

Reytes said they will give priority to proposals from Mindanao given its diverse and rich cultural heritage.

Two new shopping malls, one already open and one due to be completed in a month or so, have been built from the ground up, as well as one major supermarket and perhaps a dozen or so smaller mixed-use commercial centers. Against this backdrop, however, it is hard to find people who are not complaining that they are in some way worse off financially than they were in the recent past; at best, families (like mine, for instance) are finding they are needing to apply income that was once disposal to basic needs.

T h e t r e n d c a n n ot b e d i s m i s s e d a s a n ove r l y pessimistic public mood, either, because the subtle signs of a downturn are all around. Parents picking up their children from the local school now outnumber nannies and hired drivers, and according to the frustrated school administrator, the number of parents paying their children’s periodic tuition and fees due this past week in full has, for the first time he could recall, been exceeded by the number making requests for partial or delayed payment arrangements. In our

village (which is considered relatively well-off by local standards), there is, for the first time in the several years we’ve lived there, no ongoing construction.

People are feeling the pinch, but that reality has been plastered over by a shiny layer of positive macro indicators until now. But there are big cracks beginning to show. A news article revealed that several local government units—the article specifically mentions the provinces of Cebu and Misamis Oriental and the City of Manila— are in tough fiscal positions, implying that newly elected officials in those places inherited financial problems from previous administrations. Cebu is said to have debts approaching P800 million, while Misamis Oriental is in the red by nearly P600 million, and Manila a whopping P3.5 billion according to Mayor Joseph Estrada. In reality, the financial problems of local government units are widespread; some are very healthy, of course, but a surprising number are not, and not all of them have previous administrations of opposing

Jou r na l ism ha s been taught to schools for years now. According to Alcoran, Journa lism is impor ta nt because it will teach them to be active and vigilant. She also considered it as a very essential tool in the formation of concerned youths in the society.

Every year, various schools from elementary and high schools participate in division, regional and national schools press conferences. These gatherings aim to enhance Journalism skills and promote awareness among younger generation, the reason seminars and trainings are really needed.

In an interview to a school paper adviser of Green Valley Treasures of Impasug-ong National High School (Kapitan Bayong Annex), Mr. Kurt Kinny T. Handayan said that seminars and trainings are very important especially in developing the knowledge of the students. In their school, he has conducted trainings every Saturday among his students,

aside from joining out-campus seminars. He created this in order to prepare his school staffers for the competition this coming December.

After the Broadcasting seminar, a Cartooning Seminar was held. Invited speaker was Mr. Alexes June Baslot, a former Freehand Editor of a student publication in a university here in the city.

He has shared various techniques and also basics on Editorial Cartooning during the seminar. He also taught the participants on creating different journalistic symbols and caricatures.

In an interview, he said that Cartooning will teach young journalists on how to be patient, have a sense of humor and being broad-minded. He also shared to the participants that Cartooning may be mindblowing but it is fun.

More than 50 students from schools in the city join the seminar. There are also participants from Bukidnon and Misamis Oriental.

political parties they can blame for it.

The recent (and still ongoing) financial crisis involving the Albay Electric Cooperative (Aleco), which resulted in the entire province’s electricity being cut off for a couple days last week, has inadvertently provided some further evidence of tough financial realities underlying the Philippine economy’s shiny exterior. Apart from Aleco, whose debts are estimated to be around P4 billion, Olongapo City is under threat of disconnection for outstanding power bills of between P2 billion and P5 billion (the amount is under dispute); among the 119 electric cooperatives in the country, others with critically high outstanding debts include the Lanao del Sur Electric Cooperative (P847 million), the Basilan Electric Cooperative (P205 million) and the Aklan Electric Cooperative (P110 million). The debts are in most cases a double threat, because they include not only payments to the National Power Corp. for electricity purchases, but also payments for loans obtained

from the National Electrification Administration (NEA).

The scale of financial difficulties for institutions and families alike cannot be explained away by irresponsibility or bad management though in light of the recent scandals that have erupted (i.e., the alleged bribery solicitation from a prospective bidder for Metro Rail Transit equipment and the rapidly growing “pork barrel” scandal), it would appear an attempt to whitewash the problems with exactly those excuses might be underway—a suspicion that is only strengthened by the administration-controlled legislature’s pointed refusal to look into what may be, if true, a systematic plunder of the country rivaling the Marcos years.

But even if the “pork barrel” scandal were actually several orders of magnitude bigger than what is alleged to be, it will still be a very small part—a note in an entire symphony, as it were—of the overall economic picture. And that picture, despite the Aquino administration’s best efforts at image management, is becoming increasingly discouraging. (MT)

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Puregold... from page 3

a year ago.

“This was the result of the continuous strategic expa nsion of t he group including major acquisitions in the previous year and in the first quarter of 2013,” Puregold said.

At end-June, the listed company had a network of 192 stores, including seven S&R warehouses and 15 branches from Company E Corp, the operator of Eunilaine food marts and Grocer E Supermarts. It opened 21 stores during the six-month period, consisting of 20 Puregold stores and an S&R warehouse.

Net sa les jumped 42 percent to P33 billion in the first semester from P23.28 billion last year after a 35 percent increase in the second quarter to P16.92 billion from P12.54 billion in 2012.

Puregold stores accounted for 83.8 percent of consolidated net sales, while S&R contributed 14.9 percent. Company E chipped in 1.3 percent.

New stores put up in 2012 accounted for 11 percent of consolidated net sales and contributed 33.1 percent to the total increase in sales.

F o r 2 013, P u r e g o l d eyes consolidated net sales climbing 30 percent from last year’s P57.47 billion. The listed retailer has maintained its capital expenditures at P3 billion this year to bankroll the opening of 25 Puregold stores and one S&R store.

Puregold had sa id it expects to hit its 200-store target ahead of the 2015 deadline through organic growth and acquisitions.

In Januar y, Puregold acquired Company E for P330 million. A month after, it bagged regulatory approval to absorb 33 stores from Puregold Jr Supermarket and

19 Stores from Gant Group, added products such as fruit the operator of Parco stores. in plastic cups and crushed pineapple in aseptic bags which have better margins. from page 3 In the first half, Del Monte height while male applicants Pacific generated sales of should be single and at least $208.4 million, 14 percent higher than the prior period’s 5’6” tall.

PAL will also hire PAL $183.6 million, supported by a a mba ssadors , c u stomer 15 percent growth in branded service agents, sales and sales and 10 percent increase service agents, customer in non-branded sales. re l at ion s of f ic er s , a nd “Ba r r i ng u n fore seen premiere guest services front circumstances, the group expects to improve earnings liners.

Earlier, PAL said it expects in 2013 led by the branded 12 more Airbus aircraft to business with higher revenue be delivered in the next five from better volume and sales mix in the Philippines and months.

Last week, PAL took S&W markets. The group delivery of its first A321 is actively pursuing sales of from Airbus, with the second higher margin value-added A321-200 due on August 16. products as evidenced in the The airline’s first A330- second quarter results,” Del 300 is up for delivery next Monte Pacific said, adding t hat it w i l l i mplement month.

PAL expects an additional operationa l ef f iciencies, 17 aircraft next year, 15 in procurement savings and 2015, 10 in 2016, two in 2017, active cost management. and four each in 2018 and 2019.

In August last year, PAL from page 4 signed a firm order with eats up P4.8 billion in the Airbus for 55 aircraft worth annual government budget. a combined $7 billion. These For the 289 members of the include 45 single-aisle A321s House, a P70 million share and 10 wide-body A330-300. each means P20.23 billion.

Besides the flag carrier, Multiply that by three to PAL Express is looking for represent the three-year term applicants to fill up airport of the current Congress, and ground staff positions such you get a whopping sum of as work scheduler, ground P75.09 billion. equipment operator, ramp The P75.09 billion pork equipment operator, ramp allocation may be a miniscule services supervisor, baggage amount in the P2.268 trillion master, load controller, and government budget that statistics clerk.

President Benigno Aquino The recruitment tour 3rd is asking Congress to will move to the Radisson appropriate for 2014, but P75 Blu Hotel in Cebu City on billion is P75 billion by any August 24. consideration.

Senators are a l lowed to spend P100 million of from page 3 their individual share for sales, including sales to i n f r a s t r uc t u re or ha rd non-affiliated Del Monte projects, and the other P100 companies under long term million for soft projects like supply agreements, expanded scholarships, livelihood 18 percent year-on-year due projects, medical assistance to robust growth in sales to i n s t ate -r u n hospit a l s , North America of value- budgetary support to local government units.

For congressmen, it’s P40 million for hard and P30 million for soft projects each year.

That’s a lot of money.

Unfortunately, these monies do not a l l go to actua l projects.

For the hard component (r e a d , i n f r a s t r u c t u r e projects like concreting of road, asphalting of road, construction or repair of bridges, among others), the project proponent (read, lawmaker) part of the project cost ends up either directly in his pocket, or through a protégé ’s construction company.

For the soft component, t hat’s where t he money machines work t hrough NGOs. All these talks about reforming the pork barrel system are for naught for as long as the legislators’ focus are more on investigations that end up to nothing.

How many laws have actually been produced out of so many investigations pu r p or t e d l y i n a id of legislation? And how much public money had been spent

PAL...

Legislature...

Records...

for these much-publicized investigations?

To o m u c h m o n e y squandered. (MT)

Rodriguez... from page 4

Roja s a lso i n for med Rodriguez and the appropriations committee that PCSO’s public relations and advertising budget has gone down to P275 million from P1.8 billion during the Arroyo regime.

He said they are trying to pare down such expenses every year.

The Bureau of Internal Revenue had filed tax evasion c h a r ge s a g a i n s t mov ie director Carlo Caparas in connection with more than P1 billion he received from the previous PCSO board for a film production.

Pagcor officials did not say how much they have in intelligence budget, but the agency is believed to have hundreds of millions in such funds.

Their financial report did not indicate such f unds. It ref lected on ly their earnings, expenses, how much they give to the national government and ot her agencies, a nd ta x payments. (TPS)

Almonte... from page 4

procedural adjustments in every government agency to deal with public requests for records, among other things.

It draws examples from laws around the world.

Minority Leader Ronaldo Zamora recently was quoted as doubting that the House leadership supports FOI. “I’m not sure that the majority is prepared to come up with a clear statement on whether they want the FOI or not,” said Zamora, commenting on delays in f il ling t he committee position. Majority Leader Neptali Gonzales II rejected the characterization.

The appointment of the chairmanship came two we ek s a f ter t he Hou se reconvened and after other posts were filed.

Other news reports said members from the Liberal Party were wary of taking the chairmanship.

The new chair of the relevant Senate committee, Grace Poe, was quoted as saying, “I really want to conduct hearings on this [bill]. This is the backbone of public information.”

She expressed concern about get t i ng Aqu i no’s support, saying, “… there is no denying that it is not their priority measure and they have some reservations, and they filed their own version.”

“We really also have to take into consideration what the President thinks about it. There are other points to ponder here,” Poe said.

“Obviously, it’s not their passion but they’re also not doing anything to kill the bill.”

Poe indicated it was i mpor t a nt t hat a n FOI measure be put in place to

institutionalize access to government information before the Aquino administration bows out in 2016.

“But it’s up to them to see if this is really something that they need to prioritize.

What I think is that it is a safety (mechanism) for us, especially that in 2016, we will have a new administration.

It’s better that we are able to have a guarantee that we have access to information,” Poe said.

Rustans... from page 5

“We only have t hree brands because we want to be very focused. Three is already very tough. Every format is very different from the other,” he explained.

Meanwhile, Tantoco said that the company doesn’t have plans yet to go public or list at the Philippine Stock Exchange. (MT)

Profits... from page 5

Co. of the Ty family, Bank of the Philippine Islands of the Ayala clan and the two government-owned financial institutions Land Bank of the Philippines and Development Bank of the Philippines.

With the merger of taipan Lucio Tan’s two banking units, Philippine National Bank and Allied Banking Corp., PNB as surviving bank will climb to fifth slot.

Philippine Trust Company owned by the Yap family, is 15th biggest. (MB)

CSR... from page 5

on products and services from socially-responsible compa n ie s - T ha i la nd , 66%; the Philippines, 64%; Indonesia, 56%.

“Compa nies ca n do more to c on ne c t w it h consumers through social projects. To have a stronger engagement with consumers, companies should re-access responsibility.” Jamieson added. (MB)

Pushes... from page 5

the BSP to issue marketable government debts which wou ld have a crit ica l bearing on the financial environment, especially in times of volatility and excess liquidity.

Other proposed amendments to its charter include the setting up of a formal arrangement on the sharing of gains and losses between the NG and the BSP; the restoration of the BSP’s ability to issue its own debt securities to enable it to siphon excess money supply from circulation; the setting up of reserves to absorb losses from foreign exchange fluctuations; and the granting of tax exemption. (MB)

Plants... from page 7

group Panalipdan criticized the government’s switch from renewable energy to coalpowered plants.

“With greater coal power

comes increased electricity rates like what happened in Luzon and Visayas,” Suazo explained.

“The reason why Mindanao has cheaper rates compared to Luzon and Visayas is because we use renewable energy from Agus-Pulangi hydropower plants,” he added.

Suazo said the better option is to rehabilitate the Agus Pulangi plant to boost its capacity to supply power for the regions.

Petilla, however, pitched for private investments in coal, citing that hydro-power discourages investors because of the low price of 2.90 pesos per kilowatt-hour (KW/h) as compared to coal which can provide 400 MW selling at 4 pesos per KWh. Dr. Jean Lindo of the No to Coal Power Plant in Davao coalition, said the social cost on health matters with the pollution caused by coal-powered plants. “Coal power plant owners would not spend for the health impact their plants will bring to Davao,” she warned.

“Well if they want economics, there is more sustainable economics in clean energy. Besides, people don’t need to spend more on hospitalization from the harmful effects of coal,” she added.

Greenpeace considered coal the “biggest industrial contributors to microscopic particulate pollution”, citing studies on the effects of coal-powered plants and found acid gas, soot and dust emissions contribute hugely to pollution. Its effects are increased risks in heart attacks, lung cancer, asthma and other respiratory problems.

Suazo also added “It is a repeated flimsy alibi of the (administration) that renewable energy is expensive and cannot provide baseload.

The long years of service of Agus-Pulangi hydropower plants disproved the claim that renewable energy is unstable and expensive.”

Suazo also criticized Aquino who launched on 2011 the National Renewable Energy Plan (NREP) but is now pushing for what he calls “dirty energy” of coal-fired power plants with contracts granted through privatepublic partnership.

Last February, Aquino granted various coal mining contracts to Altura Mining for 3 areas in Catanduanes; Consunji-led Semirara Mining Corp for 9 areas in Oriental Mindoro and Sarangani; Empire Asia for Surigao del Sur, and SKI Mining for Agusan del Sur and Surigao del Sur. Petilla explained that the government will still pursue renewable energy projects such as mini and micro-hyro plants and solar energy but wants to be sure that cooperatives have stable leadership and collection measures.

To this, Suazo refuted, saying “What’s unstable is the government’s political will not to provide us with clean, renewable and affordable energy.” (Tyrone A. Velez/ davaotoday.com)

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Export... from page 1

He said that the current inventory of trees in the region which is more than 30 million, 30 percent or about 10 million trees are already old and no replanting ef for t is being done on the part of government, notwithstanding the passive attitude of farmers i n s u s t a i n i n g c o c onut production.

He said that the country’s coconut industry was leading Malaysia and Indonesia more than 20 years ago because of government support.

“Now we don’t see the kind of government intervention for the industry’s growth.

That even the budget for the operation of PCA has to be approved by the Department Budget and Management as subsidy.” Cruz said, adding that “the coconut industry should not be a victim of political maneuvering where whoever sits in government, policy direction also change no matter how sound it may be.”

PCA is a government ow ne d a nd c ont r o l l e d corporation.

He said that the decline of production is also attributed to land conversion where coconut trees are felled to give way for housing and other industrial uses.

“There has to be a policy that would define the interests of the coconut industry for its continued viability and not just leave the initiative to the private sector, including the farmers.” Cruz said.

Cruz said that government in partnership with the private sector set aside funds for research and technology implementation and not just rely on exporting raw copra and oil for revenue.

Nor t her n M i nd a nao is the prime mover of the production of coconut sugar that is becoming popular in the country. “That if given support would become one of the export earners.” Cruz said.

Outlook... from page 1

in Mindanao is more than double the country’s 7.6 percent increase in exports last year.

Mindanao’s top 10 export markets are the United States of America, Japan, China, Netherlands, South Korea, Singapore, Sw it zerla nd, United Kingdom, Germany and Malaysia.

“We should be proud to be Mindanawons because we’re rich. The potentials of Mindanao are far larger t h a n a ny pl ac e i n t he entire Philippines,” said businessman John Gaisano Jr., referring to the vast fertile lands, bountiful seas and massive mineral wealth lying in the island.

Gaisano says he firmly believes that Mindanao can grow big time sooner with proper directions set into motion by both the public and the private sectors.

This year, Gaisano is

overseeing a major event to address what has not been done and what could be done for Mindanao.

Charting Mindanao’s direction Now on its 22nd year, t he Minda nao Business Conference (MinBizCon), the largest annual gathering of government and business leaders and members of chambers of commerce in the island, takes centerstage once again on August 8 to 10 at the SMX Convention Center here with the theme “Moving Towards ASEAN Business Integration.”

The MinBizCon is an initiative of the Philippine Chamber of Commerce and Industry (PCCI).

A s M i n Bi zC on 2013 conference director, Gaisano has been pulling the strings to make the best out of the conference that was first held in this city in 1992.

MinBizCon 2013 was supposed to have been hosted

by Ozamiz City but it backed out and the hosting was eventually accepted by the Davao Cit y Chamber of Commerce and Industry, Inc. (DCCCII), on short notice.

“This conference will pave the way for a better Mindanao.

It will be very different from the past conferences because we made sure that “it’s the output of Mindanawons,

by Mindanawons and for Mindanawons,” Gaisano, also a DCCCII trustee, told MindaNews on July 29.

With just a few months preparation, Gaisano said they were able to build a powerhouse cast of speakers never before assembled in the history of the MinBizCons.

Aside from President Benigno Simeon Aquino III, the major speaker for MinBizCon 2013, 14 Cabinet s e c re t a r ie s a nd s e n ior government officials, as of the July 30 program, were slated to address the most pressing issues affecting the business sector in the island.

T he issues t hey w i l l address are based on the five regional consultations MinBizCon 2013 organizers conducted a few months ago, Gaisano said.

Mindanao, the second largest island in t he Philippines, comprises 26 provinces, 33 cities, 422 towns and six regions: 9 (Zamboanga Peninsula), 10 (Northern Mindanao), 11 (Davao), 12 (Southwestern Mindanao, also known as Soccsksargen), Region 13 (Caraga) Region) and the Autonomous Reg ion i n Muslim Mindanao.

Based on the regional consultations attended by at least 250 local business and industry leaders, organizers of t he MinBizCon 2013 crafted an eight-point policy agenda for submission to the President.

These issues include A g r i c u l t u r e , Pow e r, Tourism, Transport and logistics, Skills development, Small and Medium Enterprises, Information a nd C om mu n icat ions

Technology, and Mining.

“It is i mperat ive for the national government to address those concerns because if prov ided t he support, it will not only help the poor but propel the economy of Mindanao to greater heights,” Gaisano said.

Not a war zone Surprisingly, the eightpoint policy agenda of the MinBizCon 2013 did not include the peace process between the government a nd t he Moro I s l a m ic Liberation Front (MILF), which is gaining positive strides such as the signing of the Framework Agreement on the Bangsamoro (FAB), two of the four required annexes, and a ceasefire that has been holding in the last five years.

Signed on October 15 last year, the FAB serves as the framework for the comprehensive peace ag reement bet ween t he government and the MILF, the largest Moro armed group f ighting for selfdetermination in the last few decades.

Under the FAB, both parties agreed to work for the creation of a new autonomous political entity that would replace the Autonomous Region in Muslim Mindanao (ARMM) by 30 June 2016.

Mindanao also hosts the biggest concentration of the New Peoples’ Army (NPA) in the country, in the Caraga and Davao regions.

Gaisano explained that while peace continues to be a concern for the business sector, it is not the only problem of Mindanao and the conflict is just contained in certain pockets of the island— away from the big economic and industrial hubs such as the cities of Davao, Cagayan de Oro, General Santos and other booming localities.

“Mindanao is not a war zone. It is generally safe to live in most parts of the island and park your investments here,” he stressed.

He appealed to the media to be more circumspect when reporting on conflict and not to make it appear that the whole island is under fire.

Organizers are expecting at least 1,000 loca l and foreign participants to the conference here.

Gaisano said that through MinBizCon 2013, participants and the larger public “w i l l be g iven a good perspective of what’s happening in Mindanao.”

R icardo Juliano, MinBizCon 2013 conference chair, stressed that the event is so important that instead of resolutions passed on to the President and Cabinet secretaries at the end of the conference, they will now present an eight-point Mindanao business policy agenda.

He noted that the policy agenda will be tracked if government acts on them, t h roug h t he M i nd a nao Development Aut horit y (MinDA), a state agency

created to integrate peace and development initiatives in the island.

Wider opportunities Juliano, also PCCI vice president for Mindanao, said the conference will help Mindanao prepare for a bigger market and opportunities that will arise as a result of the looming integration of ASEAN economies.

According to the ASEAN website, the ASEAN Economic Community (AEC) that will integrate the economies of the 10-member states will “transform ASEAN into a region with free movement of goods, services, investment, skilled labor, and freer flow of capital.”

The member-countries of the Association of Southeast Asian Nations (ASEAN) are Brunei Darussa lam, Ca mbodia, Indonesia, Lao People’s Democratic Republic, Malaysia, My a n m a r, Ph i l ippi ne s , Singapore, Thailand and Viet Nam. In a nt icipat ion of t he ASEA N economic i nteg rat ion, con ference organizers adopted the theme “Moving Towards ASEAN Business Integration.”

In simple terms, t he ASEAN “will become one big single market and production base,” Juliano explained.

T he i nteg rat ion a lso seeks to make the ASEAN “a highly competitive economic region, a region of equitable economic development and a region fully integrated into the global economy.”

The A EC areas of cooperation include human resources development and capacity building; recognition of professional qualifications; c lo s er c on su lt at ion on macroeconomic and f inancia l policies; trade f inancing measures; enhanced infrastructure a nd commu nicat ions connectivity; development of electronic transactions t hrough e-ASEA N; integrating industries across the region to promote regional sourcing; and enhancing private sector involvement for the building of the AEC. In short, the AEC will transform ASEAN into a region with free movement of goods, services, investment, skilled labor, and freer flow of capital, according to the group’s website.

“The ASEAN economic integration is an opportunity to be a lot better and for Mindanao particularly, it is an opportunity to shine,” Juliano told MindaNews in a separate interview in General Santos City on July 30.

He recalled that in olden times, Mindanao “was the front door of the country” in terms of trading because of the island’s proximity with neighboring Muslimdom i nated cou nt r ies, particularly citing the Royal Su lta nates i n ma i n la nd Minda nao back t hen as e f fe c t i ve p ol it ic a l a nd economic power houses.

T he Phi l ippi nes is a member of the nearly twodecade BIMP-EAGA (East

11

QUALITY EDUCATION By: Nazaren A. Romano

Quality education can be deduced from the pupils’ competencies and other values as acquired in the teaching learning process. These competencies are the expectancies to be achieved and ascertained through educational evaluation. Quality education is possible if the pupils acquire basic competencies prescribed by the system from grade to grade. It means quality teachers, fewer pupils is a classroom, good facilities and others.

Compensation affects, among other things, the level of teacher unrest, the quality of education of education, the attractiveness of a teaching as a profession, the capability of the teachers.

A SE A N G r ow t h A re a) comprising Brunei, East Indonesia, East Malaysia and the Philippines’ Mindanao and Palawan.

For the looming i nt e g r at ion of A SE A N economies, Juliano cited that Mindanao has competitive edge w it h its st i l l vast fertile lands, tourism spots and geographically closer locations to some countries in the ASEAN region like t he Mu sl i m dom i nated Indonesia, Malaysia and Brunei.

ASEAN population It is a lso a good opportunity for Mindanao’s food manufacturing sector to capture a bigger market by focusing on halal production, Juliano noted.

With at least 600 million ASEAN popu lation a nd half of that Muslims, our m a nu f a c t u r e r s s h o u l d consider the halal industry, which also includes non-food products, as a considerable moneymaking mill, Juliano said.

Both Juliano and Gaisano agreed that there’s a need to prepare and a lot work to do for Mi nda nao to fully take advantage of the vast opportunities that the ASEAN economic integration offers.

Among these are better f a r m-t o -m a r k e t r o a d s , stabilizing the island’s power situation (see separate story), easier access to financing for MSMEs, skills improvement of workers, and improving ot her infrastructures necessar y to attract investments to the island.

“Let’s finally get all our act together now to bring Mindanao to further greater heights,” Gaisano said

Biomass... from page 1

City, which will house an industrial tree plantation the company will set up.

Martinez said the company is facing “challenges” on permits after the Department of Environment and Natural Resources (DENR) required a wood processing permit.

“Most challenging yung requirement ng DENR, supposedly, required ng wood processing permit,” he said.

Despite this, Mar tinez expects the company to secure all the necessar y permits next month, by which time the feasibility studies would have been completed also.

Eastern Petroleum earlier signed a joint venture agreement

w i t h t h e M a n o b o Tr i b a l Council for the cultivation of a 10,000-hectare tree plantation.

The plantation, in turn, will supply wood chips to Eastern Petroleum’s $70 million biomass plant. The project is expected to begin in 2015, by which time it is projected to create up to 500 direct and indirect jobs.

One of the companies that set up shop following the deregulation of the downstream oil industry, Eastern Petroleum plans to enter the power generation sector in line with its thrust to transform itself into a complete energy firm.

Pushed... from page 2

of the identified sitios and villages are located in remote areas where some of the beneficiaries are ethnic and marginalized people.

Meanwhile, Agusan del Norte Governor Ma. Angelica Rosedelle Matba-Amante, and Butuan City Mayor Ferdinand M. Amante Jr. are hoping that the Aboitiz Power Company will likewise fund the implementation of various energy projects in the sub-villages and far-flung areas.

On the other hand, the Ag u s an d e l Sur El e c tr i c Cooperative (Aselco) led by its general manager Emmanuel Galarse is also implementing the multi-million-peso rural electrification program of the national government. (MB)

Awards... from page 7

Other local water districts finally emulated the concept as recognized and endorsed by LWUA. As contained in the nominee’s individual accomplishments, Aroa’s endless dedication and commitment to the concessionaires and his meritorious achievements resulted in a big leap towards MCWD’s water services progress.

Earlier, the commission named the other 9 semifinalists, of which, eight were from Luzon, and one from Bayawan City, Negros Oriental in Visayas.

“The ‘Pagasa Award’ is one of the two distinctions given by our agency under the Honor Awards Program with the other one being the ‘Lingkod Bayan’ award,” CSC provincial field officer Lilia Baliguat said.

She explained that “Pagasa Award” is bestowed to an individual or group for excellent contributions that directly benefit more than one department of the government, while the “Lingkod Bayan Award” is conferred to an individual or group for extraordinary contributions that had nationwide impact. (Glenrose T. Ledesma, MCWD/RLRBalistoyPIA10, Bukidnon)

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More than a hundred thousand pesos await winners of NorthMin premiere running event

by Irene Joy B. Dayo of Mindanao Daily News

A total of P105,000 from Solidmark Inc. awaits winners for this year’s fiesta marathon dubbed as Kagay-an Festival Marathon. Aside from that, imported medals and 4 units of 29-inch television will be given away.

The race is one of the core events of the upcom i ng H iga la ay : The Kagay-an Festival 2013. It is organized by the City Government, Centrio Mall and Circle Productions in order to show other cities that Cagayan de Oro is still competitive, successful a nd mov ing for ward despite t he bombing incident that happened recently.

“This is a lso to promote c it y spor t s tourism and wellness in Cagayan de Oro,” said Francis Velasquez, Race Director of the marathon, in a media launch held recently.

There are four categories of the race: 5-k ilometre fun run, 10 -k i lome t re f u n r u n , 21- k i l o m e t r e ha lf ma rat hon a nd 42-kilometre full marathon.

The registration fees are P400, P600, P800 and P1500, respectively.

The 5K and 10K fun runs’ registration fee will include Jersey, race bib and finisher’s medal. The 21K half marathon’s fee will include Jersey, race bib, timing chip, finisher’s shirt and medal. The 42K, on the other hand, will have all inclusions in the 21K with additional Carbo-loading dinner.

Medals will be given to the top 10 placers for every race category and additional cash prizes to the top 3 winners. P10,000 for the first placer, P8,000 for the second placer and P6,000 for the third placer.

Finishers from a l l categories will receive finisher’s medal along with a certificate and lootbag from Kopiko, Energen, Rexona and Close up. 42K finishers

Circle Productions Race Director Francis Velasquez, Justine Tiro-Marketing Manager of Centrio Mall and Circle Productions President Jeffrey Ang shown the medal, (shirts) will be receive to the finishers of this forthcoming Kagayan Festival Marathon on August 18, 2013. Race set out at Capt. Vicente Roa Extention, Centrio Mall entrance and racer start on 3:00 am for 42K, 4:00 am 21K, 5:00 am 10K and on 5:30 am for 5K racer. Photo By Rolando “Baby” Sudaria

will receive additional lootbag from Rustan’s Supermarket.

42K registrants will also be entitled to the following redemption outlets: Bigby’s, Fresh Fragrance Bar, Italianni’s, Robinson’s Department Store, The Optician’s and T.G.I. Friday’s.

T here wou ld a lso

hydration freebies that would be given by the hyd rat ion pa r t ners Nat u re’s Spr i ng a nd Gatorade a nd a lso Banana’s.

The registration is now on-going at t he registration sites, namely: Centrio Mall, Olympic Village, Chris Sports, Sprint Multisport Store

and La Cabana Spa. The organizers are op e n for i nqu i r ie s .

Anyone who is interested may contact the Circle Productions in t heir Facebook fan page Circle Productions Inc. or via their hotline: 0915-3753117.

This annual marathon was initiated last 2010

t a g ge d a s K a gay-a n Fe s t iv a l Ru n w here 10 K w a s s t i l l t h e fa r t hest d ista nce. It was changed to Kagayan Festival Marathon after the addition of the 21K in 2011 and 42K in 2012. This marathon is now considered as the premiere running event in Northern Mindanao.