BusinessDaily (August 1, 2013)

INSIDE LOOK

Toyota-Philippines bags tax perks for P2-B assembly of new Vios

Philippines, Japan boost bilateral ties

PHL food inadequacy highest in ASEAN

BSP to classify rural, thrifth banks MUST Alumni Association initiates “I MUST Run” for September as ‘simple,’ ‘complex’ banks

BusinessDaily Motoring

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Asean Watch

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Volume III, No. 268

Market Indicators

As of 6:12 pm july 31, 2013 (Wednesday)

FOREX

PHISIX

US$1 = P43.43

6,639.12 points

3 cents

X

88.88 points

X

Briefly Relief aid THE Department of Social Welfare and Development has set aside P12.7-million worth of emergency relief resources for the victims of floodings that have hit Mindanao due to heavy rains, Malacanang said on Tuesday.

In a press briefing in Malacanang, Deputy Presidential Spokesperson Abigail Valte said the DSWD has also been in close coordination with local counterparts in Mindanao to augment technical assistance and resource augmentation (TARA) needed by the victims.

Strong rains dumped over the provinces of Maguindanao, Sultan Kudarat and Cotabato City over the weekend and have caused floods and displaced more than 50,000 residents from their homes.

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Min-Vis interconnection could take 5 yrs: NGCP

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By IRENE DOMINGO, Reporter

T would take at least another five years for Mindanao grid to get connected to the power lines in the Visayas and Luzon regions given the scope of the studies and actual construction needed for the project, according to the National Grid Corp of the Philippines (NGCP).

NGCP has already started doing t he hydrographic survey to find out “where the [submarine cables] will be going because that is one of the deepest water in the

Philippines,” Sy said.

He expects to complete the study by the middle of next year, after which NGCP would submit its proposal to regulators.

The project, which is est i mated to cost $50 0 million, will be bid out to other parties.

Joseph Ferdinand M. Dechavez, NGCP senior adviser to the president, said construction would involve the installation of over 400 kilometers of power lines that would allow the country’s three main island groups to share excess electricity supply.

“We’re not simply just ngcp/PAGE 11

Neophyte officials get local governance course

By CHENG ORDONEZ, BWM Editor-in-Chief

THE Depa r t ment of t he I nter ior a nd L oc a l Government (DILG) 10 is conducting a crash course

on loca l governa nce to some 320 neophyte elected vice mayors and city and course/PAGE 11

Holcim searches for PHL’s best masons

‘Honoris causa’ XAVIER University will bestow an honorar y doctorate in the humanities on Manila Archbishop Luis Antonio G Cardinal Tagle in a special academic convocation today, Aug. 1, at the university’s Immaculate Conception Chapel.

“The honorary doctorate is being c o nferre d u p o n [Cardinal Tagle] during the Year of Faith in recognition of [his] exemplary service to the Church in the Diocese of Imus, the Archdiocese of Manila, the Philippines and Asia-Pacific,” said Fr Roberto C Yap, XU president, in his letter to the Cardinal.

Fr Yap commended Cardinal Tagle for inspiring the Church with his “open, joyful pastoral attitude, solid theological exper tise, compassionate concern for the poor and proficient use of the new media.”

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By BUTCH D. ENERIO, Correspondent

I N re c o g n it ion of t he hardwork and contribution to the Filipino masons in nation building, Holcim and the Technical Education Skills Development Authority

(Tesda) in Partnership with the Philippine Contractors Association (PCA) and the Association of Construction a nd I n for m a l Work er s Holcim/PAGE 11

Tower A of Primavera Residences, a green architectural landmark in uptown Cagayan de Oro.

What’s the rush this August?

THE mont h of August remains to be one of the busiest months in Cagayan de Oro thanks to the yearly festivities of the Kagay-an Festival.

People from all over Mindanao flock to Cagayan de Oro during this time

to attend the week-long fiesta that is bursting with competitions, exhibitions, dances and trade fairs that all boast the local culture, tradition and products.

A side f rom t hat , a large number of OFWs also returns this month,

especially those who live in the western countries where it is currently the summer season, to be with their family and friends and to be home.

T he d e si g ner s a nd developers of Primavera Primavera/PAGE 11

GALING MASONS AWARDS. The search is on for the country’s best masons. Cement-maker Holcim and the Technical Education Skills Development Authority (Tesda) launches 2013 Galing Masons Awards in recognition of their contribution in nation-building.

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Energy sales in R10 up 0.49% in 1Q External headwind to drag down economy OZAMIZ CITY—A total of 728,672,057 kilowatt per hour (kwh) of electric energy was sold to Northern Mindanao during the first quarter of the year.

This is actually higher by 0.49 percent over the 725,139,405 kwh. of energy sold to the region in the same period of 2012, said Engr.

Leon M. Dacanay, regional director of the National Economic and Development Authority-X (NEDA-10).

Gat hered f rom t he

National Grid Corporation of the Philippines (NGCP), the NEDA data also show that among the five provinces of region 10, Misamis Oriental, continued to be the biggest energ y consumer of the region with its energy sales of 498,396,217 kwh., during the period.

This is because of the many business locators inside the PHIVEDEC Industrial Estate-Misamis Oriental (PIE-MO) of the PHIVEDEC Industrial Authority, such as the Mindanao Port Container Terminal, Coca-Cola Bottling Plant, among others.

The energy sales in other provinces of the region,

during the period, was as follows: Lanao del Norte, 120,158,143 kwh, Bukidnon, 62,158, 473 kwh, Misamis Occidental, 42,712,878 kwh and Camiguin, 4, 483,333 kwh.

The NEDA data a lso show that Misamis Oriental posted the highest increase in energy sales with 4.45 percent, followed by Misamis Occidental, 3.75 percent and Camiguin, 1.03 percent.

However, the energy sales in Lanao del Norte went down to negative 13.09 percent due to the rehabilitation of one of its direct customers, while another one was not sales/PAGE 10

By MAYVELIN U. CARABALLO

THE continued external uncertainties could drag down the Philippine economy in the second half of the year, according to HSBC. “While we expect the economy to cool from a 7.8-percent year-on-year expansion in the first quarter to expand 6.4 percent in 2013, the pace of growth is still much higher than t he t rend g row t h rate, thanks to resilient private consumption and a gradual rise in investment,” HSBC economist Trinh Nguyen said in a research note.

The HSBC projection is within the government’s

6-percent to 7-percent gross domestic product (GDP) growth this year. However, it is lower than the recorded 6.8-percent econom ic expansion in 2012.

“Coupled with uncertainty in the external environment, growth in the Philippines is expected to decelerate in 2H [second half]. External headw i nds a re st rong,” Nguyen stated.

She sa id t hat one of the impacts of the global crisis is the slower growth of re m it t a nc e s , w h ic h provides less support to private spending. Personal headwind/PAGE 10

Region 12 economy posts 8.1% growth in 2012 GENERAL SANTOS CITY— Region 12 or the Soccsksargen Region’s economy grew by 8.1 percent last year as majority of the area’s industries and economic sectors continued to post accelerated growths.

Herlita Caraan, National Statistical Coordination Board (NSCB) Region 12 director, said the region’s e conom ic per for ma nc e improved by 2.8 percentage points last year or from a growth rate of 5.3 percent due to the noted expansions

by major sectors of t he economy.

Region 12 comprises the provinces of South Cotabato, Sultan Kudarat, Sarangani, North Cotabato and the cities of General Santos, K o r o n a d a l , Ta c u r o n g , Kidapawan and Cotabato.

The of f icia l said t he s e r v i c e s e c t o r, w h i c h accounts for the bulk of the regional economy, sustained its share of 37.2 percent in 2012.

She said the industry

sector slightly grew to 33 percent last year from its share of 32.2 percent in 2011.

Caraan said the A g r i c u lt u r e , Hu nt i n g , Forestry and Fishing (AHFF) sec tor cont ributed 29.9 percent of the region’s total economic output in 2012. “ T he s er v ic e s e c tor almost doubled its 2011 performance, registering a growth of 8.1 percent in 2012 from a 4.3 percent growth in the previous year,” she said in a presentation on

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the 2012 regional economic performance.

T he of f icia l sa id a l l services subsectors posted accelerated growths except for transport, storage and communication that slowed down to 5.5 percent in 2012 from 7.3 percent in 2011.

She said f inancia l intermediation expanded to 12.6 percent from 4.7 percent while real estate, renting and business activities grew by 10.5 percent from 6.8 percent. growth/PAGE 10

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Motoring

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Ford — t he secondlargest US automaker — said it is hiring more than 20 0 new elect rif icat ion engineers and expanding its research facilities to speed development. “ To y o t a a n d F o r d continue to evaluate the fe a s i bi l it y of wor k i n g together on next-generation standards for telematics and will consider other areas for future collaboration as well,” Toyota said in a separate statement.

The Japanese automaker said its commitment to hybrid technology is “unwavering” and that it remains on track to offer 18 new or redesigned

hybrid models globally by the end of 2015.

Toyota has already sold over two million hybrid vehicles in the United States — 70 percent of the nation’s hybrid sales — and over five million hybrids worldwide.

It estimates that those vehicles have saved their owners more than 3 billion gallons (11.3 billion liters) of gasoline.

Ford said it has invested $355 million within the past year to design, engineer and manufacture key components for its electrified vehicles.

It plans to invest another $50 million to double its end/PAGE 10

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Toyota-Philippines bags tax perks for P2-B assembly of new Vios THE Philippine unit of Japanese carmaker Toyota is jacking up its output by almost a fifth after it spent P2 billion for the local assembly of the third-generation Vios.

The BMW i3 electric car was unveiled in London on July 29. The vehicle frontlines the BMW Group’s first pure electric series model.

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Ford, Toyota end hybrid partnership TOYOTA and Ford have ended a pa r t nership to jointly develop gas-electric hybrid systems for trucks and sport utility vehicles, the automakers said Tuesday.

“We know what it takes to build world-class hybrids, and we now will build and leverage t hat ex per t ise in-house,” said Raj Nair, Ford’s chief of global product development.

“By continuing to develop a rear-wheel-drive hybrid system on our own, we can extend our advanced hybrid technologies to new vehicle segments and deliver even better fuel economy across our lineup.”

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At today’s ceremonial rol l-of f of t he a l l-new, t h i rd-gener at ion Vio s , Toyota Motor Philippines Corp (TMPC) president M ich i nobu Sugata sa id production this year will hit 36,300 units, up 19 percent from 30,500 last year.

D u r i ng t he l a s t si x months, TMPC put in place

improvements that hiked the plant’s annual capacity to 33,50 0 units. As t he company targets an output exceeding its plant capacity, employees are expected to render overtime and holiday work, Sugata said.

The investment for the new-generation Vios secured tax and other incentives from

the Board of Investments (BOI) as a pioneer project under the 2011 Investment Priorities Plan (IPP).

The Vios and Innova models are assembled at TMPC’s plant in Santa Rosa City, Laguna. Besides these two models, TMPC also sells 16 imported models.

The two locally assembled models comprise two-fifths of company sales.

TMPC plans to assemble 14,594 units of t he a l ltoyota/PAGE 10

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PHL food inadequacy highest in ASEAN THE Philippines has the highest prevalence of food inadequacy among the ASEAN-4 countries in the last three years, data from the National Statistical Coordination Board showed.

The latest NSCB StatFocus report authored by Bureau of Agricultural Statistics d i rec tor Romeo Recide showed that from 2010 to 2012, the percentage of food inadequacy in the Philippines is higher than that of its neighbor Asean countries, such as Indonesia, Thailand, and Malaysia.

“The prevalence of food inadequacy is an example of an indicator aimed at capturing an outcome of food

insecurity due to inadequate food access,” the report said.

“The lower the percentage of food inadequacy, the better it is for the country,” it added.

The percentage of food inadequacy in 2010 to 2012 in the Philippines is 23.8 percent.

In compa rison t he prevalence of food inadequacy in Indonesia, Thailand, and Malaysia is 15.8 percent, 15.5 percent, and 6.9 percent, food/PAGE 10

PHL backs Timor-Leste Local brands urged to tap ASEAN bid to join ASEAN THE Philippines supports Timor-Leste’s bid to become the 11th member of the Association of Southeast Asian Nations.

Timor-Leste, a former Portuguese colony, is seeking membership in the ASEAN, after winning its freedom in a 1999 United Nations-backed referendum.

The Philippines is a founding member of ASEAN. “The Philippines was at a crucial juncture in its democratic history while Timor Leste was treading the path to self-governance and independence,” President Aquino said.

“We look forward to working more closely with you in the future in advancing regional dialogue, which we know will redound not only to the growth of our peoples and our countries, but will also contribute to the stability and continued development of our region.”

Aquino said both countries will continue their military cooperation and intelligence exchange.

“This is in keeping with the Joint Declaration on Military Cooperation, which was signed by both our governments last year,” he added Trade between the two countries from 2011 to 2012 “almost tripled.”

“This is a positive sign of our robust partnership. And with the signing of the agreements on infrastructure development and capacity building, among others, we open more doors of opportunity for both our peoples, empowering them to take part in further building a more equitable, more progressive Southeast Asia,” Aquino said.

“The peoples of our region not only share a rich history; more importantly, we are bound by common aspirations. It is by working together that we realize the potential of our nations and of our region.

Our meeting today signifies that our peoples are determined and ready to achieve these dreams.”

Timor Leste Prime Minister Kay Rala Xanana Gusmao, who visited the Philippines in June said that “Timor-Leste is seeking backs/PAGE 10

LOCAL brands are urged to look at ASEAN for their first overseas expansion because the future is in this ten-member trade bloc, not US or Europe, according to franchise guru Samie Lim. Lim noted there have been a handful of local brands that have gone abroad but there are still so many more that are already ripe for overseas expansion.

“Today, there are more brands coming in than going out, so I’d like to encourage all of you to explore ASEAN and when you do that be as proudly as Filipino because that is your small way to give back to the people and the country that helped you build and nurture your brand,” he said.

“Many aspiring franchisors, like most Filipinos, have the grand American dream.

I will open 50 stores in the Philippines then I will franchise in the US, then Europe, but the future is not there, it is in ASEAN,” he said.

The chairman emeritus of the Philippine Franchising Association has cited several factors that make ASEAN the future of franchising than the developed US and European markets.

First, he said, the ASEAN Economic Community will happen in 2015 opening many doors of opportunities with the free

movement of goods, services, investment, skilled labor, and freer flow of capital.

ASEAN has a 600 million population, with one of its members, Indonesia, being the 4th largest in the world. It has a combined GDP of $2.2 trillion.

But unlike the European Community, in ASEAN, trade with external partners is far more significant than intra-ASEAN trade.

So for many years, ASEAN worked towards strengthening its cooperation with its 6 major trading partners – Australia, China, India, Japan, New Zealand and South Korea.

More effort has in fact been given to the advancement of ASEAN+3, now ASEAN +6, than unifying the member states.

According to Lim, this means that Filipino franchisors are no longer limited to the 10 countries, opportunities extend to the +6 with the different trade agreements that ASEAN has with them as a regional trading bloc. ASEAN+6 is approximately 3.3 billion people, has a combined GDP of about $17 trillion, and accounts for about 40 percent of world trade. These regional cooperation agreements are important because franchising is all about cooperation, he said.

ASEAN does not only have a large urged/PAGE 10

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Davao City first smoke-free Metropolitan City in ASEAN AFTER successfully implementing its Comprehensive Anti-Smoking Ordinance enacted on November 9, 2002, Davao City has been named the first 100 percent smoke-free city in Southeast Asia by the Bangkok-based Southeast Asia Tobacco Control Alliance (SEATCA).

Davao City is taking the lead among cities in the Association of Southeast Asian Nations (ASEAN) in implementing a smoke-free regulation in public places.

Davao City’s anti-smoking campaign was expanded on May 31, 2012, to include a ban on use of electronic cigarettes in public areas. It prohibits smoking in public conveyances, government-owned vehicles, entertainment areas, workplaces, sidewalks and public buildings. People in Davao City may smoke only in their homes, private vehicles, and designated outdoor areas.

SEATCA is a multisectoral alliance working closely with ASEAN and World Health Organization in developing tobacco control policies. SEATCA envisions to see the 10 ASEAN memberstates, including the Philippines, having picture warnings on cigarette packs, as it is one of the strategies to stop people from smoking. Four ASEAN members – Singapore, Thailand, Brunei, and Malaysia – are enforcing it, while Vietnam plans it by the end of 2013 and Indonesia by 2014.

Davao City hosted the regional meeting, “Smoke-Free Laws: Strengthening its Enforcement Towards Building Model Smoke-free Cities in the ASEAN,” on July 8-10, 2013. It was attended by anti-tobacco and health experts from governments, civil society, and academe from Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Thailand, and Vietnam, who shared experiences in promoting smok e -f re e env i ron ment s . E a c h country highlighted its best practices in advocating non-smoking law. The conference launched the “Smoke-Free Cities ASEAN Network” (SCAN) to strengthen policies and efforts to rid public places all over Southeast Asia davao/PAGE 10

Philippines, Japan boost bilateral ties PR E SIDEN T Benig no Aquino III and Japanese Prime Minister Shinzo Abe have to strengthen bilateral m a r it i me c o op er at ion, describing it as “a pillar of their strategic partnership.”

In a statement, Aquino said that he and Abe reviewed the security challenges that confront both nations.

Aquino was referring to China’s aggressive claim on the islands in the West Philippine Sea, which had strained relations between

Beijing and Manila, and Tok yo’s ow n territoria l dispute with Beijing in the East China Sea. China’s aggressive claims on both sides of the China Sea had forced Washington to “re-pivot” its focus on the Asia-Pacific region.

In recent months, the United States had redoubled it s ef for t s to con f ront China’s growing maritime presence in the region, as US Vice President Joe Biden called on Asian nations to

reduce tensions by rejecting “bellicose threats.”

Biden also urged claimant-countries to agree on rules to prevent conflict.

“We each expressed our concern about the rising tensions in the South China Sea,” Biden said. “The United States urges all parties to reject coercion, intimidation and threats to the use of force.” “ We e nc ou r a ge t h e ASEAN and China to quickly ties/PAGE 7

St rategic pa r tners. President Aquino receives Japanese Prime Minister Shinzo Abe at the Music Room of the Malacañang Palace during his official visit. malacañang photo bureau

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BDO profit surges 144% to record P14.1-B in 1H MANILA—BDO Unibank, Inc. (BDO) more than doubled its net income to P14.1 billion in the first half of 2013 from P5.8 billion in the same period last year.

BSP to classify rural, thrift banks as ‘simple,’ ‘complex’ banks THE Bangko Sentral ng Pilipinas (BSP) is set to classify some rural and thrift banks as simple or complex banks.

“We issued a circular that formalizes our requirements for classifying certain rural and thrift banks as complex and simple,” according to BSP Deputy Governor Nestor Espenilla Jr. Rural banks are banks which are privately managed and largely privately owned that provide credit facilities to farmers and merchants, or to cooperatives of such farmers or merchants at reasonable terms and in general, to the people of the rural community.

Meanwhile, a thrift bank is a financial institution focusing on taking deposits and originating home mortgages.

Espenilla said that basically, thrift and rural banks only required to put up an audit committee, and are not required to come up with other committees like a governance committee.

“But under the regulation, if rural and thrift banks exceeded certain features like complexity of business, geographic reach and different kinds of customers, the BSP can classify them as complex . . . meaning we will put a higher requirement,” he explained.

The BSP official also said that rural and thrift banks, no matter how big they are, are engaged only in basic deposit-taking and lending.

“But if they are doing other kinds of things like largescale remittance network, doing a lot of cross-selling of products that are relatively complicated, then we may take that as possible reason to consider the bank complex or more than the normal community-based banks,” he said.

Espenilla added that the central bank would identify simple or complex banks in terms of products and other factors.

“This is kinds of things that we considering in classifying banks as complex. The general rule is that rural and thrift banks have simpler requirements, but then we may escalate those requirements if their businesses are complex,” he said.

BSP/PAGE 7

Driving the Bank’s record profits for the period was the strong performance across all business segments.

Gross customer loans went up by 12 per cent to P806.6 billion while total deposits broke the 1 trillion mark, growing by 17 per cent to P1.02 trillion on the sustained increase in low-cost deposits.

This resulted in the 14 per cent expansion in net interest income to almost P20 billion. The Bank’s noninterest income increased by 81 per cent to P20.3 billion, driven by fee-based service income of P7.6 billion, as well as exceptional gains from trading and foreign exchange activities despite the market volatility in late June. Meanwhile, the Bank held the growth in operating expense steady at 9 per cent.

Notwithstanding the sustained decline in its gross non-performing loan (NPL) ratio to 2.4 per cent by endJune 2013, the Bank accelerated its provisions to P4.0 billion to raise its NPL Coverage ratio to 148 per cent, ref lective of its conservative provisioning policy.

As of end-June 2013, BDO remained well capitalized with a Capital Adequacy Ratio (CAR) and Tier 1 Capital ratio of 18.3 per cent and 15.6 per cent, respectively, well above the regulatory minimum.

With record earnings for the period already representing more than two-thirds of its P20.4 billion guidance for 2013, the Bank is optimistic of hitting its year-end targets as it expands its businesses while nimbly responding to market challenges. (PNA)

BSP cited LBP as Outstanding Lending Bank STATE-RUN Land Bank of t he Ph i l ippi ne s wa s recognized by the Bangko Sent ra l ng Pi l ipi nas as “Outstanding Lending Bank” under the Credit Surety Fund (CSF) category for actively lending to small businesses.

L a ndba n k P re sident and CEO Gilda E . Pico said the bank has always been providing financing to the country’s micro, small and medium enterprises (MSMEs).

Recent st udy by t he International Finance Corp.

(IFC) showed that MSMES generate the most jobs in developing countries like the Philippines but they are also less productive, pay less, and do not offer as much training and development opportunities for employees.

Smaller companies, the IFC said, are often the most affected by obstacles to job creation, meaning they are unable to grow to their full

potential.

IFC said access to finance is a key constraint for MSMEs and easing it can result in significant job creation.

IFC provides financing to a large network of financial intermediaries in emerging markets, which in 2011 financed 23 million MSMEs, which in turn employed over 100 million people.

“Landbank has always been supportive of the Credit

Surety Fund program as we strongly share its objective of making bank credit more accessible to MSMEs, who are our important partners for progress and development,” Pico said.

The Credit Surety Fund is a credit enhancement scheme initiated by BSP in 2008.

This scheme aims to improve the bankability and credit worthiness of MSMEs, LBP/PAGE 7

Caraga accounts for 16% of DTI 2014 BuB projects BUTUAN CITY—On its f irst year of participation in the bottom-up budgeting (BuB) process, the Department of Trade and Industry – Caraga Region has generated some P87 million worth of proposed projects in partnership with some 48 local government units (LGUs) and their partner civil society organizations (CSOs).

The projects are for 2014 implementation.

The amount represents 16% of the P549 M total value of DTI BuB projects from 17 regions in the country and therefore is the biggest among all the DTI regions.

This amount, which was recommended by the Caraga Regional Poverty Reduction Action team (R-PRAT) March of this year, has since been endorsed by the National Anti-

Poverty Commission to the Department of Budget and Management (DBM). The latter has also submitted this together with the rest of the 2014 BuB projects for approval

by Congress.

The BuB is a process pursued by the national government “to ensure the inclusion of the funding requirements for the development needs of focus cities and municipalities in the budget proposals of participating agencies.”

The process ensures t his t hrough the active participation of CSOs in the preparatory assemblies, updating and assessment of relevant economic and social data and in the conduct of local poverty Bub/PAGE 7

TG pushes for buffer fund for disaster response A SENATOR is proposing the creation of a buffer fund that will help local governments become more resilient to disasters.

Sen. Teofisto Guingona III has filed Senate Bill (SB) 1087 that seeks to create a “Solidarity Fund” for local government units (LGUs), which, he believed, would aid in strengthening institutional mechanisms for disaster risk reduction and preparedness.

“Our LGUs must be made resilient against disasters.

We are hit by typhoons and other natural calamities a l most a l l yea r rou nd .

While we cannot control nature, we can mitigate its devastating effects by preparing steadfastly and rebuilding almost instantly,” Guingona said.

Under SB 1087, LGUs w ill be mandated to contribute 0.5 percent of their total revenues taken from the Local Disaster Risk Reduction and Management Fund (LDRRMF).

Guingona said his proposed measure seeks to establish the Solidarity Fund “as a second layer of the Quick Response Fund.”

“In the event of a disaster, c a l a m it y, e pi d e m i c or complex emergency, the Quick Response Fund is the first fund to be depleted.

There is an urgent need, therefore, for a second layer that LGUs can draw from,” response/PAGE 7

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Obstacles or Opportunities

T

THINK

hink a minute…In the 1930’s, Jesse Owens was A Minute a world-class athlete in track By Jhan Tiafau Hurst and field.

Yet he was told that because he was black, an AfricanAmerican, there was no way he could beat the white, Nazi German athletes.

Wel l, t he 1936 world Olympics were held in Berlin, Germany.

The racist Nazi dictator, Adolf Hitler, was there.

He refused to even look at the African-American Athletes!

Jesse Owens and the other American athletes were booed and laughed at while all the Nazi German athletes were cheered and praised on the field.

But Jesse didn’t worry about Hitler’s cruel, evil prejudice against him.

Jesse just stayed determined and focused on his dream and goal.

Jesse made mistakes in his first 2 long jumps.

Yet He still didn’t let that discourage or stop him.

Then, on his last jump, Jesse won!

In fact, he also won the other 3 events he competed in.

So Jesse Owens came home to America with 4 Olympic Gold Medals!

You see, he had the courage and commitment to keep going no matter what happened or how others hurt him!

There is a Japanese Proverb which says: “If you fall down 7 times, simply stand up 8 times!”

We all fail and fall down!

That’s fine.

It’s only when we stay down and just lie there that we disgrace and shame ourselves.

Just because you lose sometimes does not make you a loser!

The famous inventor Thomas Edison said: “Many people who failed in life didn’t know how close they were to success when they gave up!”

So when problems and challenges come your way, even when you fail, it is still your choice to keep going and reach your goal.

You still can live the life you want. hurst/PAGE 11

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-oooakampi GROUPS WAITING FOR Mo A ng Batas PNOY TO ACT ON CUSTOMS

By Atty. Batas Mauricio CORRUPTION: Of course, Trillanes did not explain what he meant with the words “the groups (waiting for the President’s action against corruption in the Bureau of Customs) cannot wait forever”, and neither did Macalma pursue the matter, but I take it that there are groups who are not happy with the corruption that is admitted to be going on, unabated, in the bureau.

Are these the same groups that expressed their displeasure against former President Gloria Arroyo by staging the so-called Oakwood Mutiny in Makati City, the country’s premier business and financial district? If so, I shudder to think what they could be capable of doing, if and when President Aquino would not be acting in the manner they would want him to act.

-ooo TRILLANES’ TIRADE VS. LIM, TANADA: Trillanes also had a mouthful against Deputy Customs Commissioners Danny Lim and Juan Lorenzo Tanada, saying that, if they batas/PAGE 11

K

BSP and other central banks

ith the economy performing very well, the upcoming anniversary of the Bangko Sentral ng Pilipinas (BSP) on July 3 will definitely be sweeter. It is a great feat for one of the youngest monetary authorities in the world.

Established in 1993, the BSP (www.bsp.gov.ph) replaced the old “Central Bank of the Philippines,” which was founded in 1949. It was created by virtue of the Philippine Constitution of 1987 and the New Central Bank Act, which gave the bank fiscal and administrative autonomy from the Philippine government.

The BSP is just one of the 186 central banks around the world. The banks differ in name – some are called “reserve bank,” “monetary authority,” or “national bank.” They, however, share common tasks such as setting monetary policy, issuing of national currency, acting as the bank of bankers, supervising and regulating banks, and lending to ailing banks. All of them also serve as the banks of their respective governments.

The central banks also manage their nation’s foreign exchange reserves. These are deposits in foreign currencies that can be used to deal, trade, or make payments internationally. For example, Asian countries have deposits which are in US dollars or Euro.

According to the International Monetary Fund, the combined foreign exchange reserves of the world’s central banks are now worth $11 trillion.

ROSE MARY D. SUDARIA, Ph.D. General Manager

4th SONA on Customs backfires vs. PNoy?

IFE’S INSPIRATIONS: “… The greedy bring ruin to their households, but the one who hates bribes will live…” (Proverbs 15:27, the Holy Bible).

-ooo 4TH SONA ON CUSTOMS BACKFIRES VS. PNOY? Now, it would seem that the tables have been turned against President Aquino in relation to his outburst against the Bureau of Customs.

While he publicly chastised top officials of the bureau during his fourth State of the Nation Address (SONA) allegedly because it is still reeking with corruption up to now so that it has been miserably failing to collect its revenue goals, it appears that he himself, as the President, already knew beforehand who to blame for this corruption.

Sen. Antonio Trillanes IV, in an interview with DZRH achorman Deo Macalma last Wednesday, July 31, 2013, said that as the Chief Executive of government, President Aquino knew who of the officials of the Bureau of Customs are corrupt, and who are their “political patrons” who are giving them protection.

Trillanes said it is up to the President now to act, and to immediately remove the corrupt from the agency, and expose the names of their protectors. Aquino does not have to wait for any congressional investigation before he is to act because he is the President anyway, Trillanes added. He said that there are groups who are now waiting on what the President will do, but, he said, these groups cannot wait forever.

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SPEAKING

Central banks have existed a very long time. In fact, the O ut BSP is 325 years younger than By Ignacio Bunye the oldest operating central bank in the world – the Bank of Sweden (www.riksbank. com), which started in 1668.

The Bank of Amsterdam in the Netherlands, founded in 1609, actually preceded the “Riksbank,” but it closed for good in 1819.

United Kingdom’s Bank of England (BOE), however, is the one widely considered as the pioneer of the modern central banking system. Journalist Jason Rodrigues gave a brief history of the BOE (www. bankofengland.co.uk) in his 2009 article for the British newspaper The Guardian.

He said the Bank emerged in 1694 to serve as the government’s banker and debt-manager. Eventually, it became a “lender of last resort” to smaller banks and the issuer of the country’s national currency. Both are now common functions of central banks today, including BSP. Since every country has its own history and laws, bunye/PAGE 11

The challenge of bioethics

HILE it’s true that our current age of intense information technology can give us information overload, leading us to get saturated and blasé, it’s also true that the profusion of information can lead us to a greater sensitivity to the increasing complexity of our life. That’s the irony of our times.

That was the first impression I got as I started to attend a course on bioethics recently. It struck me as a novel way of having an interdisciplinary effort to blend the best findings of medicine and the sciences with the best conclusions and indications of philosophy, theology and pastoral care.

I consider this development as progress. Too often we can be accused of leaning too much on one side at the expense of the other sides that also need to be considered. Thus, we can be too scientific or empirical that focuses more on the material, while being deficient on the spiritual and moral that goes beyond the material and temporal aspects of our life. This is a common phenomenon these days.

Or, we can go the other extreme—being too spiritual and moralistic while neglecting the material and biological foundations of our human concerns.

As a consequence, we are prone to be narrow-minded, simplistic, rigid, and to easily fall to rash judgments. With our complicated times, we have to try our best to avoid these predicaments.

We need to strike a healthy balance, because the resulting blend would actually bring us to a richer appreciation of reality. It would lead us to serve all of us better. In short, it would help us to live truth in charity better, a goal that we should all pursue in earnest.

HINTS

And so, there I was with a few others in class, having and Traces to grapple with the mindBy Fr. Roy Cimagala boggling names of hormones, their sources, mechanisms a nd ef fec t s , t hei r u su a l manifestations, etc. I suddenly felt like a high schooler again having to cram for an exam the following day.

Besides, we need to assess the ethics and morality of the different cases brought about by our biological life and medical conditions.

This aspect was kind of bloody, since we discovered we had divergent views.

It became clear to me that bioethics is a relatively new science that would need more inputs, polishing and systematization. And to think that we were talking more about the reproductive system. I wonder how it is going to be when we start talking about the nervous system and the psycho-emotional aspect it has. I suspect that area would be bloodier.

One thing that I clearly saw during the classes was that while learning those biological and medical terms is certainly helpful, we should realize that knowing the nature of things just simply cannot be achieved simply through the naturalistic ways. That is, by simply observing cimagala/PAGE 11

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VP Binay: Improved economy will prevent Pinoys from committing crime abroad Vice President Jejomar C. Binay said that the only plausible way to prevent Filipinos from committing crimes, particularly drug trafficking, abroad is for the economy to improve.

“The solution is for our economy to improve, since the root of these crimes is economic,” Binay said in light of news that two Filipino sisters were nabbed in Hong Kong for trying to smuggle

in 14.5 kilograms of shabu.

If convicted, the two Fi l ipi nos w i l l face l i fe imprisonment and a fine of about HKD5 million.

Accord i ng to Bi nay, binay/PAGE 11

Sec. Roxas visit at the blast site A day after an explosion happened July 26 at about 11:10 p.m. at Kyla’s Bistro and Candy’s Café in Limketkai Center, killing eight innocent persons and injuring 44 others, Interior Secretary Mar Roxas, upon instruction of President Aquino, made an ocular inspection at the blast site and immediately ordered police authorities and other law enforcement agencies to dig deeper into the investigation, identify and arrest the perpetrators of the brutal attack at the soonest possible time in order to bring justice to the victims and their families.

Ties... from page 4

reach agreement on a code of conduct,” he added.

Aqu i no t ha n ked t he Japanese government for helping enhance the capacity of t he Phi lippi ne Coast Guard by building multirole vessels and by providing communications systems for their use.

Aquino added that both countries have “pledged to cooperate i n adva nci ng its common advocacy for responsible act ion f rom i nter nat iona l players” through “upholding the rule of law”.

Aquino also expressed g r a t i t u d e f o r J a p a n ’s continuous support to the peace process between his government and the Moro Islamic Liberation Front, the largest Muslim rebel group in the country, and for extending assistance in critical areas, such as

infrastructure development, transportation, connectivity, and disaster preparedness and response.

Aquino said that he was look ing for wards to t he Commemorative Summit in Tokyo in December for t he 40t h a nniversar y of ASEAN-Japan Friendship Cooperation.

In a separate statement, Abe announced four initiatives for the Philippines, including joint development of the economy, promote ma rit i me cooperat ion, strengthening assistance to southern Philippines, and strong promotion of people to people exchanges.

He conf irmed Japan’s assistance to the PCG by prov id i ng lo a n for t he acquisition of 10 coast guard vessels.

He also presented Aquino a very accurate topographical map of Mindanao which he said could be beneficial in developing the area.

7

“ { T h e) P h i l i p p i n e s w i l l c o nt i nu e t o b e a trusted, important partner immediately after the start of the Abe administration.

Foreign Minister Kishida v i site d t he Ph i l ippi ne s and I am also visiting the Ph i l ippi ne s now w h ich indicate our view towards t he Ph i l ippi ne s . G oi ng forward, I want to strengthen the relationship with the Phi l ippi nes i n a l l a reas including politics, security, economy, and people-topeople exchange,” Abe said.

He vowed t hat Japa n would continue to assist the Philippines towards its “capacity building.”

“Japan and the Philippines as neighbors connected by the sea, developed a long history of friendship. Both countries share a strategic interest of making the Asia Pacific region a free and open region not by coercion or intimidation but by the rule of law,” he said.

Turnover of Concreted Road in Camaman-an Congressman Rufus B. Rodriguez formally turns over a road concreting project at Tipolohon-Indahag Road at upper Camaman-an that cost P3 million pesos.

Joining this activity are Cong. Maxie Rodriguez of Abante Mindanao Partylist, City Councilors Enrico Salcedo and Teodulfo Lao, barangay officials headed by Brgy Chair Ruel Gamao and Kagawads Wendyl Princillo, Pedro Arda, Carlito Bactong and the DPWH employees.

Ab e s a id du r i ng h i s me e t i ng w it h Biden i n Singapore, they agreed that Japan and the US would continue to “contribute peace in the region”.

“The relationship between Japan and Asean serves as a cornerstone of harmony and dialogue in our part of the world,” he said. (MST)

BSP...

from page 5

The BSP official added t hat if a ba n k has been classified as complex, the central bank would require them to have a corporate gover na nc e com m it te e , and to have a dedicated compliance officer and other requirements.

“It’s a way of adjusting t he re g u l at ion s t o t he nat u re of t he bu si ness.

We are expecting a higher governance and compliance standard on the banks that are operating in a more complex way than the usual,”

LBP...

t he t y phoon season, “we

i nclud i ng cooper at ive s , which are short of collaterals and are of ten con f ronted w it h dif f icu lties in obtaining loans from banks due to lack of collaterals, credit knowledge and credit track records.(TPS)

can ill afford to be caught unaware, especia l ly if it will cost us gains that our LGUs have worked so hard to achieve.” “ It i s h i g h t i m e w e st reng t hen i nst it ut iona l mechanisms for the reduction of disaster risks and enhance preparedness and response capabilities of

from page 5

from page 5

from page 5

Response...

he said.

The disbursement of the Solidarity Fund, to be held in trust in a government bank, will be at the discretion of a supervisory boa rd to include t he i nter ior secret a r y a nd representatives from the Union of Local Authorities of the Philippines, League of Prov inces, Leag ue of Cities, League of Mu nicipa lit ies a nd Liga ng mga Barangay.

Gu i ngona sa id w it h

BuB...

plan (LPR AP) workshops.

T h e proposals submitted for DTI f u nd ing include projects on shared service facilities, industry clusters development, s k i l l s a nd m a n a gement trainings, and livelihood & enterprise development as well as businessenabling mechanisms/ i nter vent ions such as the business permit & licensing system s t re a m l i n i n g . (PI A)

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‘Greeneration’ Summit set on August 2

by Jasper Marie Oblina-Rucat, Contributor

CAGAYAN DE ORO CITY – The Climate Change Commission has set the ‘Greeneration’ Summit on August 2 at the Capitol University here.

Secretary Lucille L. Sering said this summit focuses on information dissemination on climate change and its effects.

"Part of the effort is to avoid seeing loss of lives especia lly with what happened in typhoon Sendong."

According to a Social Weather Stations (SWS) survey on climate change for the first quarter of this year here in the country, 63 percent said they did not do anything to reduce climate change in the

past three years. Sering said, "This is a substantial percentage, it’s either they don’t know what to do or they don’t care."

Further, 50 percent of the surveyed said that climate change increased incidence of illnesses.

Sering said, "Our concept of climate change has fo c u s e d m a i n l y on typhoons and flooding where there is occurrence of elephantiasis (contamination of water) and so on."

"There are two t h i ngs we c a n do," Sering revealed. "One is adaptation where we adapt to the changes of the climate and second is mitigation where we reduce green house gas."

M it i g a t i on i s a n economic discussion.

First, she stressed, "We can identify the activities that emit gas although she said we can’t emit all of them. The highest emitter is energy."

S h e a s k e d , " How can we contribute to this mitigation?" Cut em ission on cer t a i n industry, she said. In the International arena, sma ll countries such as t he Ma ld ives a nd Solomon are in great danger of sink ing because of this climate change, she added.

"In our own country, we have one of the most expensive electricity in the world," the secretary declared. Coal on the

ot her ha nd , w i l l b e ex pensive f ive yea rs from now, she said.

Thus, the Secretary proposed t he u se of renewable energy such a s s o l a r, w i n d a n d ocean. "Although they are expensive, they can help mitigate climate change," she stressed.

Finally she said, "We need to convince a huge chunk of the population to understand and help raise awareness of the climate change because this will affect everyone without discretion of the rich or poor." If this happens, food security will be a threat. "We n e e d t o s pr e a d t h e word," she stressed.

(PIA)

Youth officials crowd the city hall quadrangle during the July 22 registration of Sangunniang Kabataan officials from Cagayan de Oro city's 80 barangays at the Barangay Tourism Hall. (BWM News Photo)

Workers repaint the ballot boxes at city hall ground in preparation for the for thcoming Barangay and Sangguniang Kabataan (SK) October 2013 election.

Photo By Rolando N. Sudaria of Mindanao Daily News NM

MUST Alumni Association initiates “ I MUST Run” for September

by Enrique S. Guevarra, DM, Contributor

T

Asst. City Legal Officer Reymond Villablanca stresses a point during the Cagayan de Oro City Council Energy Committee meeting chaired by Kag. Bong Lao held July 22 at the SP Session Hall. The meeting discussed various matters affecting the Cagayan Electric Power and Light Company (CEPALCO).

Also in photo are Mike Banos, president of Konsumanteng Kagay-anon, Inc. (KKI), Atty. Isidro O. Baculio, Jr., legal officer, CEPALCO; and Cepalco execs Ralph Paguio and Chit Capili. (BWM News Photo)

City Hall rescuers attend 5-day training on life support, first aid. An emergency medical services (EMS) expert re-orient members of the city rescue group Oro Alert and personnel from the City Health, City Hospital, Department of Health-10, and others on basic life support and first aid during a five-day training at Chali Beach Resort, July 29-August 2. The training, spearheaded by the Filipino-American Paglaum Outreach Foundation Phils., Inc., basically aims to enhance participants’ expertise on basic life support techniques such as rescue breathing, cardio-pulmonary resuscitation, foreign body airway obstruction management, among others.

he Mindanao University of Science and Technology (MUST) Alumni Association headed

by Dr. Enrique S. Guevarra is embarking a new challenge for t he orga n i z at ion by initiating a fun run in cooperation with the Student Supreme Counci l and various department students orga ni z at ions, Pa rents Teachers Association and Faculty- Staff of Mindanao University of Science and Technology.

Dubbed with the theme “ I MUST Run” , the event will be held on September 22, 2013 at 4:00 am with its starting venue at Limketkai Mall Area, Cagayan de Oro City.

Considered by the association as opening salvo of MUST’s Intramurals on September 25 – 28, 2013 , t he a lumni association expects to gather at least 4000 participants .

Fortunately, this event is open to all interested fun run enthusiasts. Young and old are qualified to join.

Aside from the physical benefits of running which is obv iously about being physically fit, fun run as such like this, helps raise

funds for charity.

This noble undertaking is professionally organized by Cagayan Circle Productions Association, Inc. ( CCPAI) which is considered as the front runner of organizing fun runs in Cagayan de Oro City.

The alumni association is confident that with the s e r v i c e s o f t h e C C PA I under the able leadership of President Jeffrey T. Ang and Race Director Francis C. Velasquez, the fun run would be a great success.

T he e ve nt h a s t h re e categories, namely : 3K, 5K and 10K. With a reasonable registration fee of P250 for 3K, P300 for 5K and P400 for 10K, respectively , participants could avail jerseys, TYVEC race bibs, freebies, raff le prizes, finishers’ certificates, prizes and medals for the winners on all categories both male and female.

As early as this time , i n i t i a l l y G o v. Ye v g e n y V i n c e nt e B . E m a n o o f Misamis Oriental and Globe Telecom mu nicat ions a re considered the major sponsors to this event.

General Manager of Toyota Cagayan de Oro Peter Lim Lo

Suy is generous enough to be one of the event’s benefactors.

To this effect , the Fun Run Committee Chair Giovanni Fa ncubit is c a l l i ng t he participation of everyone to this event.

Proceeds of such undertaking will be utilized to fund the various projects of t he MUST A lu mni Association which includes giving financial assistance to poor but deserving students of the university.

More d e t a i l s of t h i s endeavor could be obtained from Giovanni Fancubit who is reachable at 09261575313.

T h is yea r’s f i rst ever alumni-initiated fun run is possible because of the active support and cooperation of the following MUST Alumni Association officers (2013 – 2016), namely: Dr. Enrique S. Guevarra, President ; Rev. Giovanni Fancubit , Vice President; Gilda Maquiling, M PA , S e c r e t a r y ; E n g r.

Julius Esclamado, Assistant Secretary; Engr. Victor Arceta, Treasurer; Cely Ongol, MPA, Asst. Treasurer; Engr. Boy Borja, Auditor; Engr. Erich Abad, PIO; Esther Joy de Asis , PIO and Prof. Romeo de Asis, Social Manager.

Photo taken on June 22, 2013 at Chowking Gateway during the collaboration meeting of some officers of MUST Alumni Association, MUST Parents Teachers Association, MUST Faculty Students and Personnel Association and Cagayan Circles Productions, Inc.

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Sales... from page 2

in its full operation, so also with Bukidnon, a negative 1.66 percent.

Again, Misamis Oriental posted the biggest share of 68.40 percent in energy sales, followed by Lanao del Norte, 16.49 percent, Bukidnon, 8.64 percent, Misamis Occidental, 5.86 percent and Camiguin, 0.62 percent. (PIA)

Headwind... from page 2

remittances from overseas Filipino workers (OFWs) slightly rose to $2.1 billion in May 2013 from the $2 billion recorded the previous month.

Furthermore, Nguyen noted t hat expor ts a lso continued to be a drag on growth and contracted by 0.8 percent in May, reaching $4.891 billion from the $4.932 billion recorded a year ago.

She said that the slowing of the credit cycle also added another blow.

“Even w it h ex ter na l demand likely to pick up toward year-end, thanks to a recover y f rom t he United States [US], Japan and China [contingent on the government stepping in to help], the BSP [Bangko Sentral ng Pilipinas] will not take any chances and keep rates low,” Nguyen stated.

Last week, BSP’s Monetary Board decided to maintain the current key policy rates based on its assessment that the inf lation environment continues to be benign.

Interest rates on the special deposit account facility were also maintained at 2 percent.

“Fiscal spending will also boost growth, but a significant pick-up of public investment is not on the cards,” Nguyen added.

She noted t hat a f ter gaining control of bot h houses in the May midterm elections, President Benigno

Aqu i no 3rd now ha s a stronger political mandate.

However, Nguyen said that while the government wants to raise public infrastructure spending to 5 percent of GDP by 2016 from 2.5 percent in 2013, the President, in his fourth State of the Nation Address, did not highlight any specific plans to achieve this.

“Therefore, any subst a nt ia l i ncrea se to the country’s investment will likely come from the private sector; and the BSP will facilitate by holding main policy rates low and forcing SDA funds to flow elsewhere,” she said.(MT)

Growth... from page 2

Trade expanded by 9 percent from 3.5 percent, public administration and defense rebounded to 7.4 percent i n 2012 f rom a negative 0.1 percent growth in 2011 and other services posted a growth of 6 percent in 2012 from 3.1 percent in the previous year, she said.

Caraan said the Industry sector slightly expanded by 0.8 percentage point or from 10 percent in 2011 to 10.8 percent in 2012.

S h e s a id t h e s t r on g performances of construction, electricity, gas a nd water supply a s we l l a s m i n i n g a nd quarrying cushioned the lackluster performance of manufacturing.

Construction rebounded to 9.4 percent growth in 2 012 f rom ne g at i ve 12 p e r c e nt i n 2 011 w h i l e electricity, gas and water supply subsector expanded by 5 p e rc e nt f r om 2 . 4 percent, she said.

She sa id mi ni ng a nd quarrying expanded to 12.1 percent from 6.6 percent.

But Caraan said manufacturing, which is the

biggest industry subsector, dropped to 12 percent from its 19.1 percent growth in the previous year.

She said the AHFF sector grew faster at 5.4 percent in 2012 from a modest growth of 1.8 percent in 2011.

Fishing, which c ompr i s e d 5. 2 p e rc e nt share of the region’s AHFF, rebounded from negative 11.5 percent in 2011 to 16.8 percent grow th in 2012, she said.

“The lustrous performance was attributed to the remarkable increase in the region’s commercial f ish production brought about by the lifting of the ban for tuna fishing in the deep seas around Indonesia, Papua New Gu i nea a nd Micronesia, which are the fishing grounds of fishing compa nies based in t he region,” she noted.

Caraan said commercial fishing accounted for the biggest share of the region’s fishing industry at about 75 percent. “ The indust r y sector contributed 3.5 percentage p o i nt s t o t h e r e g i o n’s economic growth in 2012 while t he ser v ice sector chipped in 3 percentage points. The AHFF sector managed to contribute 1.6 percentage points to the total economic growth of the region,” she added.

Arturo Valero, National Economic and Development Aut horit y Reg ion 12 d i rec tor, at t r ibuted t he area’s positive economic performance to the entry of more invest ments on processing activities in the area in 2012.

“These activities were designed to process t he ag r icu lt u re produc ts of the region,” he said.

Raymund Salangsang, president of the General Santos Cit y Chamber of Commerce and Industry Inc., said the opening of SM Cit y Genera l Santos last year and last month’s unveiling of the KCC Mall’s Veranza expansion project helped further accelerate the area’s economic growth.

“They eventually helped generate more employment,” he said.

Upbeat with the Region 1 2 ’s s t r o n g e c o n o m i c performance, Salangsang s a id t he y a re pre sent ly push i ng for more t rade expansions and the entry of major investments into the area.

He said the area’s trade and investment climate has been continually thriving as shown by the 8.1 percent g row t h of t he re g iona l economy in 2012.

“The local economy is performing well so now is the best time to expand and invest on major ventures i n t he a rea,” he sa id i n an interview with a local television station.

Salangsang added that a mong t he indust ries that have posted positive grow t hs and considered as promising are fishing, agriculture and services.

(PNA)

End... from page 3

battery testing capabilities and speed electrified vehicle development by as much as 25 percent.

Ford said its secondquarter hybrid sales soared a whopping 517 percent from the first quarter of 2012 to a record 24,217 vehicles.

It s sha re of t he US electrified market grew 12 points to nearly 16 percent of the US market, Ford said.

Toyota... from page 3

new Vios until yearend.

Production of the new model began last June 26.

“With production of the new Vios, we will make the auto industry fired up on all cylinders,” Sugata said.

He said the Vios is the top-selling vehicle in the country with 16,517 units sold last year or almost a tenth of the industry sales of over 182,000.

TMPC vice president Roque Rommel T. Gutierrez told reporters that sales of the all-new Vios are expected to jump to 2,000 a month from the previous variant’s monthly sales of 1,400. The new Vios is now available a t To y o t a d e a l e r s h i p s nationwide, he said.

“We will recharge the market with higher demand for the all-new Vios… We will take the market by storm,” Sugata said.

The t hird-generation Vios, however, will be more expensive with a starting price of P723,000 per unit or about P20,000 more than that of second-generation units.

Compa ny sa les a re expected to hit at least 70,000 this year, up from 65,396 last year, Gutierrez said.

Gutierrez, who is also president of the Chamber of Automotive Manufacturers of the Philippines Inc (Campi), said the country’s growing economy augurs well for TMPC as well as industry sales. The Philippines’ gross domestic product (GDP) grew 7.8 percent in the first quarter, the fastest in Asia.

The Philippines is the second Asean country to assemble the all-new Vios after Thailand—Toyota’s production base in Southeast Asia. Vios production in the Philippines started in 2004.

Double local content next year The biggest assembler as well as seller of vehicles in the country, TMPC also plans to double the local content of the Vios model to 40 percent by next year.

TMPC sourced 265 parts and components or about a f if th of those used to assemble the all-new Vios from local vehicle parts makers belonging to the Toyota Suppliers Club. The previous Vios variant had only 230 locally sourced parts.

Sugata said the company plans to further increase the number of locally sourced parts to over 300. For one, the underutilized press plant

will be used to localize the stamping or shaping of 15 parts such as door, floor and roof, among others, by July next year, he said.

Gutierrez said they are also looking at sourcing bulky parts from domestic manufacturers. Sourcing more pa r t s f rom lo c a l makers will slash logistics and importation costs, he said.

Food... from page 4

respectively.

Taking into account other Southeast Asian countries, food inadequacy is also lower in Brunei Darussalam, while it is higher in other countries such as Cambodia, Myanmar, Lao People’s Democratic Republic, and Timor Leste.

The NSCB, citing the Fo o d a nd A g r i c u lt u r e Orga nizat ion, sa id t hat food security exists when all people, at all times, have physic a l a nd econom ic access to sufficient, safe and nutritious food which meets their dietary needs and food preferences for an active and healthy life.

It said t hat t he FAO identified four dimensions w h ic h a f fe c t s e c u r it y, specifically food availability, food access, utilization, and stability.

The report said that among the different commodities, the country is self-sufficient in sugarcane and milkfish from 2006 to 2011.

For the same period, the report also said that the Philippines has achieved self-sufficiency in cassava in some years.

“The country is still not self-sufficient in rice, the staple food commodity of Filipinos, as well as other basic food commodities such as pork and chicken. The country, though, is nearing self-sufficiency in corn,” the report said.

The NSCB report said that as in most developing countries, the Philippines re m a i n pre d om i n a nt l y agricultural in spite of the declining share of the sector to the country’s national income.

“The declining agricultural productivity, continuing increase in the prices of staple foods, and global climate change caused concern for food security for the growing population in the country,” the report said.

It stated that the rice crisis of 1995 and the food crisis in 2008 bear witness to the necessity of food security policy formulation.

“However, this is not an easy task. The process encompasses many i nt e r re l at e d a re a s a nd re q u i re s re s olut ion of policy issues that are often in conflict with each other,” the report said. “ S i nc e m o s t of t h e conf licting policy issues a re a nc hore d on s ol id grounds, policymakers would require strong bases such as comprehensive statistics a nd qua lit y a nd t i mely agricultural data in deciding

which option to take. This makes the statistical system an indispensable partner in maintaining food security,” it added. (APM)

Backs... from page 4

membership to ASEAN as we believe we can contribute to this dynamic and growing reg ion to which we a l l belong.”

“I am therefore thankful to His Excellency and his government of their support for our bid for ASEA N m e m b e r s h i p. We l o o k forward to joining with the Philippines in the ASEAN family,” he added. (MT)

Urged... from page 4

population, it has a young population that will provide a sizeable future domestic output which is expected to drive higher consumption for goods and demand for services.

GDP per capita will grow at 9% over the next 20 years.

Robust GDP growth means more disposable income for individuals providing a platform for increased consumer spending.

ASEAN’s middle class population is expected to grow at a rapid compound a n nu a l g row t h r ate of 6.2% between 2010-2030.

An increasingly urbanized middle class means lifestyle upgrade, driving increased dema nd for good s a nd services.

Domestic consumption w i l l c ont i nue to d r ive economic growth, continue to contribute between 5060% of GDP, remaining as a key component of the region’s growth.

Lim said t hat t he Philippines has the most vibrant franchise industry in ASEAN stressing, “I can conf idently say that the Filipinos know franchising more than anybody else in this region.”

He there is only a handful of brands out there but we still so many that are ripe for overseas expansion. (MB)

Davao... from page 4

of toxic tobacco smoke.

In 2010, Davao Cit y wa s recog n i z ed by t he United States of Americabased Global Smoke-free Partnership for its antismoking effort, as the only city awardee among countries such as Colombia, Turkey, I nd ia , a nd Gu atema la , and by the World Health Organization for tak ing for ward t he smoke-f ree agenda in the Philippines.

(MB)

CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

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NGCP... from page 1

talking about the submarine cable, we’re talking of a very long t ra nsmission li ne, overhead transmission line from both ends. But the longer transmission line will be from that area in Surigao del Norte going to Cagayan de Oro. Over 400 kilometers of transmission line,” he said.

The transmission lines leading to Cagayan de Oro would allow NGCP to tap Mindanao’s load centers, w here bu l k dema nd i s situated as well as major hydro power facilities in nearby provinces.

At present, the country’s power transmission facilities, which deliver electricity produced by generating plants to distributors, are connected only in Luzon and the Visayas, allowing the two regions to share their surplus energy when needed.

Cut off from the other two regions, Mindanao has been hit by persistent power interruptions because of insufficient power generating capacity.

Course... from page 1

municipal elected officials at Dynasty Hotel in Divisoria, here, from July 30 to August 2, 2013.

The crash course has been offered by DILG in two batches: July 30 to 31 batch for those in the areas of Lanao del Norte, Misamis Occidental, Camiguin and Cagayan de Oro City, and Aug. 1 and 2 batch for those in Misamis Oriental and Bukidnon.

DILG 10 director Atty.

Rene Burdeos said invited to the “Crash Course on Local Government: Introduction to Local Legislation for City/ Municipal Vice Mayors and Sangguniang Panlungsod/ B ay a n Me mb e r s” we re neophyte or first-timer vice mayors, city and municipal councillors.

Atty. Burdeos said the whole content course is composed of the following: An orientation on the officials’ roles, powers, duties and functions; elements of good governance; parliamentary procedure; planning and budgeting; and quasi-judicial powers.

As t his developed, Atty. Burdeos urged the v ic e m ayor s , c it y a nd municipal councilors, who a re pa r t icipa nts to t he crash course, to recopy the computerized sketches of the bombing suspects now available over various websites and to distribute them in strategic areas in their respective areas of jurisdictions.

“We a re helping law enforcement authorities by urging them (participants) to be on the look-out for the suspects in the tragic b ombi ng at L i m k e t k a i Center and by making people aware of their presence in their communities, and to

immediately report to the nearest police outpost or military camp as soon as they spot them,” Dir. Burdeos said.

The Philippine National Police hierarchy has released on Monday the computerized sketches of three suspects, resulting from the description of witnesses who said that a black bag purportedly containing the bomb was left by one of the suspects in a mono-block chair, which later exploded, killing eight civilians and injuring scores others.

Holcim... from page 1

(ACIW) once again calls on all Filipino masons to join t he sea rch for new Champions for 2013 Holcim Galing Mason Awards.

Since its inception in 2003, Holcim Philippines Inc., the leading supplier of c ement , a g g re gat e s , concrete a nd aspha lt in the country, has already produced close to 8,000 certified masons through its sustainable development project, the Holcim Galing Mason Program.

Now on its 4t h r u n, the Holcim Galing Mason Aw a r d s s a l u t e s t h o s e outstanding masons who have shown tremendous pride and utmost improvement at work while being responsible members of their families and community.

Open to a l l Fi l ipi no masons, male or female, 25 t0 55 years old, and a holder of a va lid Tesda nat iona l C er t i f ic ate on Masonry, candidates must b e a pr a c t ic i ng m a s on of at least one year, with no derogatory records or administrative infractions.

Candidates must also be nomi nated by ref utable indiv idua l or legitimate organization, in good health condition, and with good mor a l c h a r a c t er. O nc e candidates meet the proper documentary requirements, they become eligible for t he tit le of new Holcim Galing Mason Awards grand champion.

The Nominees, nom i nat i ng i nd iv idu a l, or organization, may get the Holcim Galing mason Awards nomination forms and submit the accomplished entries from Tesda Provincial and Regional Offices, PCA Offices, ACIW Chapters, Holcim CSR Department Offices and selected Holcim dealers nationwide.

Deadline of submission of ent ries is on Aug ust 16,2013. Prizes at sta ke include Holcim Cement bags and P25,000 cash prize each for the 17 Regional finalists and Holcim Cement bags and P150,000 cash prize for the Holcim Galing Grand Champion.

T h e Ho l c i m G a l i n g Awards undergoes a threepronged rigorous screening process in selecting t he winners. The documentary screening rev iews t he mason’s credentia ls and personal background, the

Regiona l Search subject the masons to a masonry skills competition while the national search lets finalists undergo a panel interview with leaders and experts of the construction industry.

Criteria for judging for the level 1 Documentary Screening comprise of 55 percent for accomplishment, 20 percent for productivity and 25 percent for socialization. the 2nd level masonr y sk i l l technica l screening criteria comprise of 30 percent for workmanship, and 10 percent each for t he technique, speed, extension/reflection, safety, contingenc y, inf requent events, and compliance to the rules and regulations.

And finally, the National Screen i ng pa nel rev iew criteria include 35 percent for attitude and values, 30 percent for competence, 10 percent for each mason’s desire for self-improvement and safety consciousness and five percent each for p hy s i c a l p r e s e nt a t i o n , menta l a ler t ness a nd judgement and maturity.

“We encourage ever y mason in the country to join this search as this is one way of showing how Holcim is proud of the Filipino mason,” said Michael Cabalda, head Sustainable Development Group of Holcim.

Hurst... from page 6

This is why we need Jesus Christ to give us the courage and willpower we need to never give up and stop moving toward our goal.

If you will ask Jesus to take full charge of your heart and life, then you can have the inner strength and power of God Himself to keep going to matter what problems you face or how many times you fail.

Just Think a Minute…

Batas... from page 6

if they were true to their exposes against powerful politicians meddling in the affairs of the bureau and even abetting corruption among its officials, their resignations should have been irrevocable.

Trillanes also said that if Lim and Tanada knew that corruption permeates the entire Bureau of Customs and yet they have chosen to be qu iet about it or refused to act against the perpetrators, the two cannot deny accusations that they could be part of the corrupt system itself.

The senator also called on the Aquino government not to appoint Lim and Tanada to other offices or posts, on the theory that they are not going to be of help in any other agency anyway.

I wonder what President Aquino will say to all these, by way of a reaction!

-ooo REACTIONS? Please call me at 0917 984 24 68, 0918 574 0193, 0922 833 43 96. Email: batasmauricio@yahoo.com, mmauriciojr111@gmail.com.

11

INNER COURTYARD: The green inner courtyard, one of the green features of the building, which increases natural ventilation and illumination and decreases energy consumption.

Primavera... from page 1

Residences, the first green bu i ld i ng i n Nor t hern Mindanao, and therefore, Cagayan de Oro’s very own unique development, will also be celebrating with the rest of the city for the whole month of August through the “August Rush”

Bunye... from page 6

central banks may also have characteristics unique to them. The United States of America’s central bank for instance, which is called the US Federal Reserve System (w w w.federalreser ve.gov), has a unique structure with not one but 12 banks.

The distinction is explained in t he book The Federa l Reserve System: Purposes and Functions. It said the “Fed” has one central government called the Board of Governors, which oversee 12 regional Federal Reserve Banks (FRB) situated in the country’s major cities.

The Board sets the monetary policy while the FRBs serve as the “operating arms” of the system in their respective districts.

The European Central Bank (ECB) is another interesting example. Founded in 1999 when the Euro was introduced as the single currency in Europe, the ECB (www.ecb. int) sets the monetary policy for its 17 member states, which include Spa in, Germa ny, France, and Italy.

T he c ou nt r ie s u nd er it, however, still have their respective national central banks to help implement the policy and ensure the stability of the Euro. The reserves of each national bank are also separate from ECB’s reserves, which is shared by the member states.

You may be wondering, is there also a bank for the world’s central banks? The answer is yes, and it is the Bank of International Settlements (BIS), t he world ’s oldest financial organization.

Based in Sw itzerla nd, t he BIS (ht t p://w w w.bis. org) accepts deposits from central banks and serves as a forum for policy analysis and information-sharing among central banks. It does not, however, have any regulatory or supervisory powers over its member central banks.

K n ow i n g t h e g l o b a l

promo.

Buyers of Tower A will get a P50,000 discount and a 15-month instalment period, whereas buyers of Tower B will get a P20,000 discount and a 20-month instalment period.

These irresistible deals are only valid from August 1-31, so rush now and visit the Primavera Sales Office financial system that the BSP is part of will make us more appreciative of the positive reviews, credit ratings, and awards that the institution is getting. It is one of the youngest and certainly, not one of the richest (yet) but the fact that it was able to keep our economy strong while the rest of the world was in a financial crisis says a lot about both its potential and capability.

So for its 20th “birthday,” my w ish is t hat t he BSP continues to soar as it develops to be a tru ly world-class monetary authority.

Note: My book, Central Banking for Every Juan and Maria is now available in main branches of Fully Booked, Power Books, National Book Store, and University of the Philippines Press.

Cimagala...

from page 6 and experimenting.

We need to input the data of our faith, since the nature of things is based on a natural law that is created by God. We just cannot study and claim to know nature without referring ourselves to God. He is the author of nature, after all.

I believe the study of bioethics is very important and relevant.

It gives us good ideas on how to go about giving advice and counseling to people who come to ask for help. I would say that that the inputs provided by bioethics can give us more charitable, prudent and effective pieces of advice.

And so I believe that with the complicated and confusing atmosphere we are getting into, and especially now that our government has sadly enacted into law a Reproductive Health Act, we have to be more conversant with the intricacies of bioethics.

Church leaders, I think, should tackle this challenge squarely, educating the main agents of formation adequately. The clergy, the religious persons, the catechists and other lay faithful actively working in the Church, should have some basic grounding

today!

Call us now at (088) 310 8173 or 0917 792 1078 or drop by our Sales Office at Primavera Residences, Pueblo Business Park, Upper Carmen, Cagayan de Oro City.

Visit our website at www. primaveraresidences.com and like us on Facebook a t w w w. f a c e b o o k . c o m / CondoPrimavera. on bioethics.

This is not going to be an easy task. We have to go over a formidable learning curve. But if we persist, if we continue to move on in spite of the difficulties, mistakes and failures that can come our way, time will come when bioethics can become a clear science that is appreciated by everyone.

In life, we need to dream even if at the moment such dream would seem impossible.

Saints have proven that dreams, with God’s grace and our all-out effort, can come true. In fact, they have shown that their dreams oftentimes have fallen short of the reality that came later.

Let’s face the challenge of bioethics boldly!

Binay... from page 7

Filipinos were pushed by poverty to commit crimes.

“Kapit sa patalim. Kaya minsan, ako hindi ko naman sinasabing tama iyong ginawa, pero dahil sa pangangailangan,” the Vice President said.

He added that the government should now focus on inclusive development and helping Filipinos get employed in decent jobs to deter them from resorting to extreme measures to attend to their families’ needs.

“Iyong huling binitay, siya ang tumulong para sa gamot ng nanay niya,” he recalled.

The Vice President also gave assurance that the women will be extended all appropriate assistance by the Philippine government as they face trial.

He reiterated that while government does not condone their actions, it is still the State’s responsibility to help its citizens in need.

Binay also renewed his warning to Filipinos that trafficking illegal drugs to other countries is not worth the risk.

“The money you could gain from trafficking is not worth it, especially if your life is at stake,” he said.

“The technology for detecting drug trafficking is already too advanced, so if you attempt to smuggle drugs in, you will definitely be caught,” he added.

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