BusinessDaily (August 21, 2013)

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Volume III, No. 280

Market Indicators As of 5:57 pm AUG. 16, 2013 (Friday)

FOREX

PHISIX

US$1 = P43.64

6,525.95 points

unchanged

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Briefly Statistics confab THE National Statistical Coordination Board (NSCB) in region 10 is inviting par ticipants to the 12th National Convention on Statistics (NCS) slated on October 1 to 2, this year, in Mandaluyong City.

N SC B -10 O f f i c e r- i n Charge Brenda Lynn M. Castro said the NCS is the country’s biggest gathering of statisticians, data providers, users and other stakeholders of statistics.

Conducted every three years, the NCS aims to provide a forum for exchanging ideas and experiences in the field of statistics, discuss recent statistical developments, and elicit the cooperation and support of statisticians and professionals in related field from the government, academe, private sector and civil society towards a more responsive statistical system.

Fiesta security THE local police has deployed additional forces to secure crowded areas in time for the 391th annual observance of the Feast of St. Augustine in this port capital of 900,000 people on Aug. 28.

Po l. Su pt . Gr ac i an o Mijares, Chief of the local polic e forc e here, said additional troops from the regional police command were deployed in the city to augment the existing police force of about 3,000 personnel.

He said some police personnel who were undergoing training were also pulled out temporarily to boost the existing police unit here.

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Wednesday

Primavera Residences Tower B gets BOI approval THE Board of Investments (BOI) recent ly gave I TA L PI NA S Eu ro a si a n Design and Eco-Development Cor porat ion (ITPI) t he approval for registration under the 2012 Investment Priorities Plan (IPP) for Tower B of P r i m aver a

Residences, the first ecofriendly and self-sustaining condominium in Cagayan de Oro city. The first tower of Primavera Residences has already been registered with the BOI, which was approved on April 12, 2012.

The Ita lian-designed

P15.00

August 21, 2013

Primavera Residences is composed of two 10-storey t owe r s l o c a t e d i n t h e masterfully planned Pueblo de Oro Business Park in uptown Cagayan de Oro City.

Tower A, whose occupancy permit for unit acceptance approval/PAGE 11

Govt sets survey for anti-poverty drive COUNTING THE NUMBER OF POOR FILIPINOS

I

By BUTCH D. ENERIO, Correspondent

N A bid to fur t her enhance t he government’s anti-poverty program, the Department of Social Welfare and Development (DSWD) will conduct the second nationwide assessment in the last quarter of this year to identify the number of poor families needing assistance.

The assessment will be undertaken through the DSWD’s project dubbed as ‘Listahan’- Talaan ng Pamilyang Nangangailanganor the National Household Targeting System for Poverty Reduction.

Listahan, is an information management system that identifies and assess who and where the poor are.

Listahan makes available

to the national government agencies and social protection st a keholders a pione er d at a ba s e c on si s t i ng of comprehensive information about poor families nationwide.

The assessment will cover 15.3 million households est imate f rom t he 2010 Census of Population results for both rural and pocket of survey/PAGE 11

SURVEYING THE POOR. A boy and his father (partly hidden) pull a cart full of junks they gathered during their all-day of scouring the city streets in Cagayan de Oro. The government has said knowing the number of poor families is vital in the implementation of anti-poverty programs and projects. photo by rolando sudaria

Rufus pushes Magna Carta for Journalists

By BONG D. FABE, Associate Editor

rodriguez

“WE want to professionalize your profession.” With these words, Cagayan de Oro City second district Rep. Rufus Rodriguez (CDP) dismissed allegations that government is really bent on muzzling the “freest and liveliest press

in Asia.”

Rodrig uez told t he Bu si ne s sDa i ly t hat h i s intention is not to muzzle or regulate Philippine press but only to “professionalize” it, noting the many “chainsaw media/journalists” who are

like vigilantes out to do the bidding of the highest bidder.

“No, that’s not true that we are tr ying to muzzle the press,” he said, adding: “We always hear complaints from legitimate professional journalists regarding the rufus/PAGE 11

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2 PHL to host world’s largest contact center conference S&P: Higher WEDNEsday - august 21, 2013

THE Contact Center Association of the Philippines (CCAP) is bringing the largest conference and expo of contact center industry slated on August 28 to 30 in Cebu City.

The 2013 International Contact Center Conference and Expo (ICCCE) aims to gather key persons in the industry together with top officials of public and private sector in order to boost and maximize the capacity of contact center industry in the Philippines.

Distinct to call centers that is limited to phone transaction, the contact center industry facilitates clients’ contact through other medium such as telephone, fax, letter, e-mail and online live chat.

The Philippines’ contact center industry ranked first in the world with 800 contact centers and employing half a million Filipinos.

In 2012, the industry gained a total of US$ 8.9 billion revenue growing by 19 percent versus the previous year.

The workforce also expands at an average of around 100,000 Filipinos joining the industry annually.

“For the Philippines to remain as the leading contact center destination in the world, the industry needs the support of government and local utility providers to replicate this annual growth,” said CCAP President host/PAGE 10

Butuan, San Francisco cited in competitive index BU T UA N CI T Y—T h is c it y a nd t he municipality of San Francisco in Agusan del Sur have been named among today’s most competitive cities and municipalities in the country.

This was announced before top business leaders and successful businessmen and women in the Caraga region during the 32nd anniversary celebration of the Department of Trade and Industry (DTI) here on Tuesday.

San Francisco town was adjudged as country’s “Most Competitive Municipality”

while Butuan City is the 4th “Most Competitive City,” said DTI Region Xlll Director Brielgo O. Pagaran, citing an index on economic development and competitiveness indicators cited/PAGE 11

rating possible T he Phi lippi nes, which recent ly received a n investment-grade rating, has the chance to attain a higher credit score, if it will pursue more tax and investment reforms, international debt watcher Standard & Poor’s Ratings Services said.

S&P said in a supplementary analysis for the Philippines it might raise the country’s BBB- rating with a stable outlook, if the government pursued vital revenue reforms and improved t he inf low of foreign direct investments. “ T he st able out lo ok balances the Philippines’ policy f lexibility afforded by current account surpluses and low deficits and inflation against the difficulties of a l lev iat i ng nu merous structural impediments to higher growth,” S&P said.

“We may raise the ratings on evidence of government revenue reforms that facilitate needed improvements in physical and human capital, a nd inst itut iona l a nd structural reforms that boost private sector investment, including FDI [foreign direct investments],” S&P said.

It s a id , howe ve r, it m ig ht lower t he rat i ng if the country’s external per for ma nce we a kened higher/PAGE 11

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Banks’ bad loans drop CEB launches direct flights to Phuket amid lending growth DESPITE the growth in lending, the country’s biggest banks continue to trim their non-performing loans (NPLs), the Bangko Sentral ng Pilipinas (BSP) said.

In a report, the BSP said the gross NPL ratio of universal and commercial banks picked up to 2.75 percent last May from 2.74 percent in April, but still lower than the 3.17 percent in May of last year.

The gross NPL ratio measures how much of banks’ outstanding loans have turned sour, or haven’t been repaid by the debtors.

Removing certain loans written off as unrecoverable, banks’ net NPL ratio stood at 0.44 percent last May, unchanged from the previous month, but lower than a year ago’s 0.48 percent.

The drop in NPL ratio happened despite an increase in bank lending both month-on-month and year-on-year.

BSP data showed banks’ total loan portfolio climbed to P3.685 trillion last May from P3.670 trillion in April and P3.282 trillion in May of last year.

The BSP said NPL ratios have been declining for loans lending/PAGE 10

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The Philippines’ largest national f lag carrier, Cebu Pacific (PSE:CEB) pioneered direct f lights between the Philippines and Phuket, Thailand’s largest island, last August 16, 2013. Phuket is CEB’s 21st international destination.

“We are proud to be the first airline to offer direct services between Manila and Phuket, so more travelers can visit Phuket’s worldfamous beaches. Similarly, foreign tourists now have the option to add Manila to their itinerary, after they visit Phuket. With CEB’s trademark lowest fares, this route can contribute to tourist arrivals to both Thailand and the Philippines,” said CEB VP for Marketing and Distribution Candice Iyog.

CEB’s Manila-Phuket thrice weekly service will be every Monday, Wednesday and Friday. The maiden f light departed Manila at 8pm and arrived in Phuket at 11pm. The return f light departed Phuket the next day at 12am and arrived in Manila at 5:35am.

Phu ket is CEB’s 2nd destination in Thailand, aside from Bangkok where CEB operates 14 times weekly from Manila, Clark and Cebu. Lowest year-round fares to Phu ket star t at PHP3,499.

S e n d i n g o f f C E B ’s

(L-R) CEB VP for Marketing and Distribution Candice Iyog, His Excellency Prasas Prasasvinitchai, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Thailand, Hon. Carmelo Arcilla, executive director of the Civil Aeronautics Board, CEB VP for Airport Services Antonio Jose Rodriguez and cabin crew officially launched the airline’s pioneering flight from Manila to Phuket last August 16, 2013.

first passengers to Phuket were His Excellency Pra sa s Pra sa s v i n itcha i, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Thailand, and Hon . C a r melo A rc i l la , executive director of the Civil Aeronautics Board.

“I commend Cebu Pacific for their efforts to promote a i r l i n k a ge w it h i n t he ASEAN region. Last year, Filipino travel to Thailand had increased by 8.25%. I do believe that Cebu Pacific has played an important part in that figure. This new route will bring even more visitors to Phuket,” said Ambassador Prasasvinitchai during the

send-off program.

In the 1st half of 2013, CEB passengers to and from Thailand grew by 13.6%. It launched its direct twice weekly Cebu-Bangkok flights last December 9, 2012.

Hon. Arcilla said in his remarks, “I realize that Cebu Pacific now strikes fear in the heart of competition.

They are now in the aviation map of the world, largely in part because of Cebu Pacific being a significant regional carrier.”

In the Philippines, CEB offers the most extensive network of 34 destinations and 62 routes. Aside from Phuket, it offers 21 other

international destinations, including Dubai, Osaka, Beijing, Shanghai, Hong Kong and Seoul.

Arcilla added, “I ask Cebu Pacific to keep up the good work, of being a catalyst not only to the aviation industry but also to the economy at large. Because you and I know that air travel is a vital enabler of economic activity.

There’s no doubt in my mind that the growth that we’re experiencing in our economy is due in part to the growth of Cebu Pacific in bringing people and goods across and providing convenience to the riding public.” launches/PAGE 10

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FOI supporters hope scam will boost bill’s chances SUPPORTERS of the freedom of information (FOI) bill intend to harness the public outrage over the misuse of pork barrel funds in order to convince lawmakers to finally pass the measure.

T he u n fold i ng p ork ba rrel sca m, which has moved an archbishop and t he chief public auditor to tears, has incensed the citizenry and given rise to calls to scrap the Priority Development Assistance Fund, or pork barrel, of members of Congress.

I f u g a o R e p . Te d d y B a g u i l at , one of t hos e pushing for an FOI law, said the people’s demands for reforms could bolster the move to pass the bill, since it was apparent the lack of transparency and accountability gave rise to the abuse and misuse of the public funds in the billions of pesos.

“Because there is a strong clamor for reforms in the PDAF, this could be the springboard for a public clamor for the FOI bill, something that Malacañang desired before it wou ld certify the bill [as urgent],” Baguilat said.

“We can say that with an FOI law, we will be able to

prevent scams because the citizens have a mechanism for fighting corruption.”

He said a llies of Malacañang caught up in the controversy should push for an FOI law to show that they are sincere in their efforts to clear their names and that they are not afraid of the truth.

Nepomuceno Malaluan of the Right to Know, Right Now! Coalition said the scandal could contribute to heightening public demand for an FOI law.

But he also believed this could have an adverse effect on Congress, since some lawmakers may all the more try to block the bill to cover up their roles in the fund misuse.

“Based on our assessment, there will be a lot of roadblocks against the bill, not only because of this issue, but because of they learned from the past. They have become more and more effective at blocking it,” he said.

He noted that both the 14t h and 15t h Congress used delay ing tactics to block the measure’s passage.

The FOI bill was passed on third and final reading in previous Senates but was always shot down in the House of Representatives.

The FOI bill would make government transactions and processes more open a nd t ra nspa rent to t he public to facilitate good

governance.

A version of t he bi l l filed by the Right to Know, R i g ht Now ! C o a l it ion, through a petition for an indirect initiative, states that there should be a legal presumption in favor of access to information, and that government agencies would have the burden of proving that the information requested was exempt from disclosure.

Bill prohibits public presentation of suspected criminals

PR E SE N TAT ION of suspected criminals in media may soon be declared an offense punishable with imprisonment and fine.

Rep. Joseller “Yeng” Guiao of Pampanga said the practice of police aut horit ies of presenting suspects before a press conference is a violation of human rights.

“Even if the charges, if at all they are filed, are later dismissed, the zeal of our law enforcers in showing that they are on top of a case could besmirch the name and reputation of a suspect or their family. In so far as the suspect - whose name and face have already appeared in newspapers or television - is concerned, the harm has already been done,” Guiao said.

Gu iao f i led House Bill 324, which seeks to safeguard the constitutional presumption of innocence of persons suspected of having committed crimes.

However, Guiao said, the bill does not apply to suspects who are at large or for whom warrants of arrest have been issued.

“Their names and photographs can be provided to the public for dissemination in order to facilitate their arrest,” he said.

Under the bill, the media interview may be allowed upon the suspect’s written prohibits/PAGE 10

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ECs can power up rural areas with less gov’t interference

By BONG D. FABE

ELECTRIC cooperatives (ECs)can do well in helping government lights up the countryside when they are left alone to do their task of rural electrification.

While it is the avowed ultimate goal of the government to literally power up rural Philippines which is why it allowed for the creation of ECs, government’s constant “meddling” in the ECs operations is “repressive” and “counter-productive,” said Rep. Edgardo Rama Masongsong of the First Consumers Alliance for Rural Energy (1-CARE) party-list.

“The current operational system of the electric cooperatives is too restrictive and repressive which proved to be counter-productive and non-developmental,” he said.

Masongsong said that government’s goal of total rural electrification “can only be achieved if the electric cooperatives are given the absolute discretion in its operation with less interference from the supervising government agency,” referring to the National Electrification Administration (NEA).

Masongsong, former general manager of the Bukidnon Second Electric Cooperative (BUSECO), filed in July House Bill 677 or the Magna Carta for Electric Cooperatives which seeks to amend Presidential Decree 269, Presidential Decree 1645, Republic Act 7160 (Local Government Code of the Philippines) and Republic Act 10531 (An Act Strengthening the National Electrification Administration).

He stressed that ECs should be autonomous in its operations with very less interference from government “to afford them to be self-reliant and genuine partners of the government in its goal for total rural electrification.”

He said that cooperatives shall be under the supervision of the NEA pursuant to Presidential Decree 269 only in the conduct of trainings, seminars and financial assistance, through loans.

House Bill 677 will strengthen ECs and guarantee the fulfillment of their mandate for total rural electrification, he explained.

It will also institutionalize the processes and operations of the ECs with definite and autonomous system of sustainability and performance of its functions and responsibilities in rural electrification.

“Being ser vice-oriented, cooperatives should be afforded the immediate relief for its problem of corporate restructuring to continuously go along with the current trend of the power industry being the government’s partner on rural electrification,” he added.

Once passed into law, the measure mandates ECs to set-up a Consumer’s Social Amelioration Fund (CSAF), which can be used in times of calamities. The Fund shall be sustained through the inclusion of P1.00 per connection per month.

It also allows ECs to organize and create a League of Electric Cooperatives with regional, inter-regional and national chapters to oversee the needs of the members of the league.

Solon says creation of research facility will boost cereal industry Rep. Rufus B. Rodriguez discusses with fellow legislators the importance of House Bill 1789 (Coastwise Trade Act of 2013) or the Cabotage Law which he filed in the 16th Congress. This bill will open up coastwise trade by removing the limits on competition and forcing the local vessel operators to compete in terms of freight coast and service quality with international vessel operators. This will provide for a stronger and clearer basis for foreign vessels to provide the transshipment services needed by our local exporters and importers. It will spur domestic tourism, increase port revenues and promote cost-competitiveness among shipping companies. Lastly, the bill seeks to ensure an adequate, efficient and price-competitive shipping service that will help Filipino exporters and importers compete effectively in the international market.

Solon seeks automatic annual budget for public mentors’ medical, treatment A LAWMAKER has proposed an automatic ex pend it u re i n t he a n nu a l G enera l Appropriations Act (GAA) for the medical examination and treatment of public school educators and employees to promote their health which will help in the attainment of quality education.

Rep. Eulogio Magsaysay (AVE partylist) said his proposal to provide public school teaching and non-teaching personnel with compulsory medical attention and treatment is in accordance with the declared State policy to promote and improve the social and economic status of public school teachers, their living and working conditions, their

terms of employment and career prospects in order that they may compare favorably with existing opportunities in other walks of life, attract and retain in the teaching profession more people with the proper qualification.

Magsaysay said the demands of working in the public school system in the country are taxing at all times.

“Given the shortage of teachers and geographical location of some of our schools, it is inevitable that teachers and personnel alike will experience health problems and injuries. In remote areas for example, access budget/PAGE 10

A LAWMAKER is calling for the creation of a research institute, which will help boost the cereal industry of t he countr y a nd not concentrate on rice alone.

Rep. Pr yde Hen r y Teves (3rd District, Negros Oriental), author of House Bill 274, said under the present system, only rice has received concrete support from the State through the Philippine Rice Research Institute (PhilRice).

“PhilRice has been in the forefront of national rice production programs, providing seeds, training and technology to help increase yields, famers’ income and national rice production,” Teves said.

Teves said aside from rice, ot her cerea ls such as corn, wheat, sorghum, millet and the like which comprise a great part of food production also need help from the State in terms of research, development and extension activities.

The bill seeks to expand

and strengthen the Philippine Rice Research Institute and rename it to Philippine Rice and Cereals Research and Development Institute or Philrice.

PhilRice was created to develop and implement in coordination with its National Rice research Centers and Development Institutions, a National Research and Development Program for rice, corn, sorghum, millet and other cereals.

The bill provides PhilRice with several functions which include the power to plan, orga n i z e, f u nd , d i rec t , monitor, evaluate, and unify all research and development programs and activities for cereals in the country.

Under t he me a su re , the corporate powers and functions of Philrice shall be vested in and exercised by a Board of Trustees composed of the Secretary of Agriculture as ex officio Chairman, and eight members representing the different sectors in the boost/PAGE 10

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ROI of financial education

By Jeremy Jessley Tan

“BEING the richest man in the cemetery doesn’t matter to me. Going to bed at night saying we’ve done something wonderful—that’s what matters to me.”—Steve Jobs ONE reason I quit my IT profession early this year was because I felt I was just working for the money and nothing more. For the past two years, I’ve been in search of a job that would give me a sense of purpose and in those years, I came across the Registered Financial Planners Program. Though I’ve been able to read several blogs about personal finance, there’s nothing like making a significant investment to be able to learn more. So for the money I invested for my financial education, here are five major returns I got out of it.

1. It’s not about making money; it’s about making meaning. We want to financially plan because we want our lives to be free of worries. It’s the same reason we want to make sure we budget our cash and anticipate our expenses, the same reason we want to pay off our debts as soon as possible, the same reason why we want to insure ourselves for our loved ones and the same reason we want to plan for our retirement and our child’s education. We can have as much money as we want, but if we don’t know we want that money or how we want to spend the money and make our lives more meaningful, then that money would not seem to worth much.

2. Personal financial planning is summed up in four ways: cash flow management, debt management, protection analysis and investment management. It doesn’t have to be complicated. If we can ensure we are able to save and earn more than we spend, eliminate our debts, ensure we are protected from life’s risk and eventually build our wealth, then we’re on the right track to having a financially worry-less life.

3. Your P100 now will be worth just P70 10 years from now. The value of our money now will become less and less as years go by. Though personal finance may be about meaning, the fact still remains that money is an important tool for everyone to be able to achieve dreams and goals. Being able to strategize and plan for the inevitability of inflation is a step closer toward financial peace.

4. The value of protection/insurance. To be honest, I never really appreciated insurance until I had my own family. I realize that working hard for my family’s future is not enough. If I don’t plan and prepare, then what happens to them if something really bad happens to me that forces me out of work or worse if I face imminent death? Insurance is our safety net toward living a meaningful life. It is a tool that allows us to worry less about the future of our family and enjoy each day with them to the fullest.

5. Why are you investing? The common answer to this question is “to make money.” There’s more to life ROI/PAGE 10

PSE profit rises 32% to P429-M T H E Ph i l ip pi ne S t o c k Exchange (PSE) reported a 31.8 percent increase in its net profit for the first half of 2013 to P428.95 million from the P325.53 million earned in the same period last year due to the robust growth in listing and trading related income.

In a disclosure to the Philippine Stock Exchange, the firm said total revenues surged by 30.1 percent to P789.62 million as listingre l at e d i nc ome , w h ic h accounted for 34.9 percent of total revenue, grew 29.7 percent to P275.30 million on higher listing fees.

Between January and June, listing activities included the initial public offerings of Philippine Business Bank and Asia United Bank, Del Monte Pacific Limited’s listing by way of introduction, and 25 additional or follow-on listings.

Higher trading volume was mostly the reason for the 49.1 percent growth in trading-related income. Brisk trading activity also resulted rises/PAGE 10

BSP amends peso rediscounting facility THE Bangko Sentral ng Pilipinas (BSP) has changed its peso rediscounting window to encourage the big banks to access their temporary funding requirement from the market rather than from the BSP. T he BSP ha s spl it t he l iqu id it ysupport facility into two windows, one for the big universal and commercial banks (Rediscounting Window I), and another for thrift banks, rural and cooperative banks (Rediscounting Window II).

“The BSP will continue to provide funds to the banks but at market terms,” said BSP Deputy Governor Diwa C. Guinigundo.

Guinigundo explained that the decision to establish two rediscounting windows is not a restriction policy but part of its rationalization of its open market facilities.

The rediscounting window which is one of the BSP’s liquidity management tools should be more market driven, he emphasized.

“Banks in general have greater access to public deposits which can fund their lending operations (and) banks have to rely on their own ability to raise funds from the market for financial intermediation purposes,” said Guinigundo.

The 37 big banks have more funding sources compared to the smaller-capitalized thrift banks and rural banks. The BSP move, said Guinigundo, will enable the universal and commercial banks to “immediately transition to market-based access to BSP funds for liquidity.”

The central bank has made several policy revisions regarding its rediscounting

window, defined as a standing credit facility provided by the BSP to help banks meet temporary liquidity needs by refinancing the loans they extend to their clients.

It has considered capping access to the facility since most banks apparently just use these funds to put it back in the interest-bearing special deposit accounts.

In restricting access to the rediscounting window, other smaller banks can tap a bigger volume of the facility, not just the big banks.

Based on the newly approved Circular No. 806, which will take effect on November 15, thrift banks will be given a sunset period of five years or until November 2018 to access the RW II while rural and cooperative banks have until 2023. The universal and commercial banks will access only RW I. The BSP has also made revisions to the Exporters’ Dollar and Yen Rediscount Facility by expanding eligible collaterals.

As of end-July, the BSP has released P15.9 billion worth of liquidity-enhancing loans to commercial, thrift and rural banks under its peso rediscounting facility, up 37.1 percent lower year-on-year.

Aside from rediscounting loans, the BSP offers emergency loans and overnight clearing line to address banks’ liquidity concerns. (MB)

Floods remind consumers of need for insurance Assets under management THE f looding brought by by banks increase 11% to P3.19-T Tropical Storm Maring was a fresh reminder of the risks Filipinos face and their need for insurance, specifically an “acts of nature” coverage.

The Philippine Insurers and Reinsurers Association (PIRA) issued a statement saying Filipinos who have “acts of nature” coverage for their homes and cars can already file claims if they suffered a loss from the inundation.

“This is t he moment of truth for insurance. We advise our countrymen to file claims with their insurance companies so they can start rebuilding whatever was damaged by the floods,” said the umbrella organization for non-life insurers.

The industry association which groups 78 non-life insurance companies said it was in times like this when Filipinos realize how vulnerable they are and start appreciating how important an insurance policy is.

PIR A of fered t he

following tips on how to speed up insurance claims, especially those related to Monday’s floods: 1. Contact your insurer immediately. It is best to call the insurance company ASAP once a claim arises.

This is to ensure that the damage will be contained and the claim will be processed pronto.

2. Complete all needed do c u ment s . PI R A a l s o

said clients have a part in making sure their claims are processed promptly.

Documents to establish ownership of a car or property are always needed, so are documents like invoices and receipts that can prove the actual cost of the loss.

“Insurance companies need to make sure the claim is legitimate and accurate.

Insurance is not charity.

Insurance companies are

t here to i ndem ni f y t he insured, meaning they are there to put their clients back to their previous position prior to the loss. The insured shou ld not prof it f rom insurance,” PRIA said.

3. Make sure you are covered. PIRA said there are cases when claims are denied mainly because the loss was not covered under the policy. floods/PAGE 10

THE 37 universal and commercial banks’ assets under management (AUM) increased 11 percent year-on-year to R3.19 trillion as of end-March, based on the latest data from the Bangko Sentral ng Pilipinas (BSP).

Bulk of banks’ AUM which includes trust, agency and other fiduciary services are in the BSP’s interest-bearing special deposit accounts. The risk-free SDAs as of July 26 totaled R1.75 trillion.

The central bank has instructed all banks’ trust departments to withdraw 30 percent of their investment management activities or IMAs from the SDA facility by July 30. Agency accounts IMA will no longer have access to the SDA and the BSP has also prohibited trust departments from creating or utilizing any other trust accounts whose purpose is to merely access the SDA facility.

Rizal Commercial Banking Corp. President and CEO Lorenzo Tan said funds will likely find their way to time deposits, unit investment trust fund or UITFs and the stock market. “Hopefully they’ll find more productive uses for that capital. It’s going to take some time,” he said.

Tan, who is also the President of the Bankers Association of the Philippines, commented that local investors’ behavior has changed and improved since the Asia financial crisis in 1997 and in a lesser degree in 2008, and most are liquid.

“Consumers and corporates keep more cash now because of what happened in the Asian crisis, they are more prudent now. They always keep some buffer for opportunity and also for downside risks,” said Tan. The BSP allowed banks’ trust units to use SDAs in 2008 to siphon off excess liquidity in the system and prevent banks/PAGE 10

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“PNoy cannot save us from calamities”

Don’t burn yourself THINK

hink a minute…It’s been said: “Hating people is A Minute l i ke bu r n i ng dow n you r By Jhan Tiafau Hurst whole house to kill a rat.”

You’ve a lso hea rd t he expression, “Cutting your nose off to spite your face.”

When we hate someone, we hurt ourselves far more than the person we’re trying to hurt.

That’s why when you’ve been hurt by others, a bad memory is your best weapon to stop it from hurting you more.

Forget it, and get on with your life. “Never carry a grudge, since it only weighs you down while the other guy is getting ahead.

You’ll never get ahead while you’re trying to get even.”

You’ll reach your goal of success much quicker if you forgive and forget your enemies.

Getting even with someone just puts you on their level; but if you forgive that person, it puts you ahead of them.

So make peace quickly with your enemies.

“Some people forgive their enemies—but not until they’re dead and it’s too late.”

Remember, people need love the most when they deserve it the least.

It takes a much stronger person to forgive.

A person’s strength is measured by how many times he can forgive the same person.

You see, when our heart is full of kindness, there’s no room in it to hold a grudge.

Hating someone is easy.

Anybody can do that.

So if you want to be unhappy and miserable, go ahead: don’t forgive that person who wronged you.

But don’t forget, “Anger and unforgiveness is like fire: if you hold on to it, it will burn you.”

However, “If you choose to forgive someone, you’ll be setting a prisoner free…and discover the prisoner was you!”

Yet real forgiving takes your Maker’s kind of love hurst/PAGE 11

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IFE’S INSPIRATIONS: “… Rescue those being led away to death; hold back those staggering toward slaughter. If you say, `But we knew nothing about this,’ does not he who weighs the heart perceive it? Does not he who guards your life know it? Will he not repay everyone according to what they have done?” (Proverbs 24:11-12, the Holy Bible).

-ooo PRAYING DURING DISASTERS NOT ENOUGH: Once again, the prayerful nature of many Filipinos came out to the fore Monday and Tuesday, 19 and 20 August 2013, as monsoon rains induced by the exitingyet-returning Typhoon Maring battered and submerged much of Luzon and Metro Manila. Text messages and Facebook posts again relentlessly circulated, praying to God for deliverance from death and destruction.

Many will say that praying is good, especially in times of calamities, but then our people must be jolted out of their false beliefs about prayers: not all who pray and call on God will be answered and saved by Him. Also, not all who say they have faith in God are real believers, because real faith in God is demonstrated

T

NELSON CONSTANTINO Editor-in-Chief

BONG FABE

ALLAN MEDIANTE

Ruel Pelone

Shaun yap uy Section Editor

cris panganiban

CLIFFORD SANTILLAN RONALD B. MASTAIL

Executive Editor Online editor

Regional Editor

Cris diaz mike baños butch enerio Sub-Editors JOE DEL PUERTO FELICILDA URIEL C. QUILINGUING Editorial Consultants

DOLLY PELONE Comptroller

Managing Editor

Layout Artists

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Juni Law Office Cruz Taal St.,CDO Legal Counsel

Website: www.businessweekmindanao.com E-mail : businessdailymindanao@gmail.com Member: Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber)

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not just by what one says, akampi but more by what one does.

Mo A ng Batas And lest my readers here

By Atty. Batas Mauricio will say, these statements are mine, let me hurry up to add: t hey a re nug gets of wisdom from the Bible itself. I suggest a reading of Matthew 7:21 and James 2:17 of the Bible. To those who no longer believe, this does not mean anything anymore. But to us who still believe, it is important that we believe in a proper way, and this “proper way” is done by reading the Bible, by meditating on it day and night, and by carefully obeying it.

-ooo PNOY CANNOT DO ANYTHING TO SAVE US: The undeniable reality is that rains, f loods and strong winds will not only come regularly, as they have been batas/PAGE 11

K

Fostering an ideal banking culture

he local banking community got together in Makati Shangri-La last July 17 to witness the induction of the new board of directors and committee heads of the Bankers Institute of the Philippines (Baiphil).

Founded in 1941 as the National Association of Bank Auditors and Comptrollers, Baiphil has become the education and training arm of the banking sector.

It has promoted excellence and productivity in the industry through capacity building training, research, and information exchange.

In his message, newly inducted Baiphil President Francis M. Puzon unveiled the organization’s thrust of “fostering a culture of good governance and compliance.”

For Puzon, good governance and compliance should no longer be aspirations or targets for its member banks and partners. He said these should come out naturally and should become a way of life for all.

BSP Governor Amando M. Tetangco, Jr., who was guest speaker and inducting officer, wholeheartedly agreed: “What we want to achieve is having that comfort that values, beliefs and practices are fully in place and updated… even when no one is looking,” Tetangco said.

Tetangco emphasized the need to step up protection of the financial consumer – from improved awareness to redress mechanisms.

Given the increasing size of the financial system and the complexity of new products, Tetangco also encouraged Baiphil to reach out to more bank practitioners and to continuously stay in tune with global practices.

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

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“In an industry of over 140,000 officers and staff, we O ut need to find ways to ensure

By Ignacio Bunye that good governance is not only a nice-to-have training but a must-have perspective a mong ba n kers .” Fi na l ly, Tetangco lauded Baiphil not just for its efforts in training bankers but also for reaching out to the so-called underbanked and unbanked.

He praised the organization’s efforts during the last four years (under Past Presidents Susan Uranza-Alcala, Emmanuel Barcenas, Agnes Brillantes-Santos, and Salvador Serrano) and now continued by Puzon.

Tetangco noted that Baiphil has been active in the development of a financial system that is inclusive and able to sustain inclusive growth.

Baiphil has been supporting the Bangko Sentral’s financial education program for parents and teachers in the public schools.

This is a parallel program that complements the lessons on saving, money management and entrepreneurship being taught in public elementary schools under a joint program of the Bangko Sentral ng Pilipinas and the Department of Education. bunye/PAGE 11

SPEAKING

Adaptable, flexible, versatile

HESE are qualities to have these days. With our increasingly complex times, we need to learn how to f low with the tide without losing our identity and real purpose in life. For this, we need to look closely at our Lord.

We just celebrated the Solemnity of the Annunciation of our Lord, when the Son of God becomes man in the virginal womb of Mary. Out of sheer love, God reaches out to man by becoming like him, and thus shows us how to be adaptable, f lexible and versatile in any situation.

Not only has the Son of God become man. He also assumes the sinfulness of man without committing any sin, and as consequence, takes on the human condition of being weakened and wounded by sin, including being subjected to temptation and finally death.

In his preaching, he used parables to make his lessons more accessible to the people. He was always compassionate, quick to forgive, slow to anger. He was always thinking of his Father and of the people.

Remember him saying, “The one who sent me is true and what I heard from him I tell the world.” (Jn 8,26) He gave preferential treatment to the children, the weak, the handicapped, the sick, the sinners. He was only allergic to the proud and self-righteous whose sense of right and wrong did not come from God, but rather from their own selves in their great variety of human consensus and other subtle forms of self-assertion. But on the cross, he asked forgiveness for everyone.

He was always adapting himself to the people, being

f lexible to ever yone, and yet managed to accomplish and Traces his mission, whatever the

By Fr. Roy Cimagala situation was. He was not on ly pa s sively ad apt i ng himself to the environment.

He was also actively pursuing his goal in different ways.

That’s versatility for you.

Eventually, he rounded of f a l l t hese ex pressions of adaptability, f lexibility and versatility by offering his life on the cross. There he made as his own all the sins of men, died to them and rose from the dead. He turned the cross from being a tree of sin and death into a tree of life. His death conquered sin and death, and opened the door to eternal life.

There can be no greater expression of adaptability, f lexibility and versatility than what our Lord Jesus Christ has shown us. These qua lities are a direct consequence of his love that is the very essence of God, and the essence also meant for us.

We can interpret the passage, “Greater love than this no man has, that a man lays down his life for his friends,” (Jn 15,13) as “Greater expression of adaptability, f lexibility and versatility than this no man has, that a man lays down his life for his friends.” cimagala/PAGE 11

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LifeStyle

Primavera Residences Tower B, CdO’s Miss CdeO 2013 first green condo, gets BOI approval Candidates vie

The Board of Investments (BOI) recently gave ITALPINAS Euroasian Design and Eco-Development Corporation (ITPI) the approval for registration under the 2012 Investment Priorities Plan (IPP) for Tower B of Primavera Residences, the first eco-friendly and self-sustaining condominium in Cagayan de Oro city.

The first tower of Primavera Residences has already been registered with the BOI, which was approved on April 12, 2012.

The Italian-designed Primavera Residences is composed of two 10-storey towers located in the masterfully planned Pueblo de Oro Business Park in uptown Cagayan de Oro City. Tower A, whose occupancy permit for unit acceptance was given on September 12, 2012, has a capacity of 162 residential and commercial units, ninety percent of which are already sold, while the rest are already being rented out.

“Being the first green building in CdO is really a great advantage,” says Arch. Romolo V. Nati, Chairman and CEO of ITPI. “We are setting the trend here in the most competitive city in the Philippines. We also purposely selected to put our project in uptown Cagayan de Oro because

for talent title

A

Primavera Residences Tower A

of its good urban planning, better air quality and higher land area – 110 meters above sea level – making it practically a f lood-free zone,” adds the Italian architect.

On the energy-saving features of the project, Arch. Nati shares: “With our unique design, our unit owners appreciate the natural airf low and light that comes into the building through the inner courtyard.

Also, the shaded façades prevent the sunlight from hitting the windows directly, reducing internal unit temperature.

All these contribute to the lessening of their electricity use, specifically, the use of air conditioners.”

Atty. Jose D. Leviste III, President of ITPI, explains, “We give high

importance during the design phase of the project so we are able to make use of local materials and knowhow during the construction phase, ensuring its quality and affordability. Because of this, more people are able to afford better and healthier, and of course, beautiful homes and take advantage of the green energy and good lifestyles. The residents say they love the weekly Zumba lessons conducted at Primavera Residences.”

The second tower of the Italian-Filipino Joint Venture is set to finish construction in 2014 and will have a capacity of 166 residential and commercial units. “Once the project is completed, the two towers will be equipped with a pioneering system that

will enable them to produce and manage their own reliable and affordable renewable energy. Primavera Residences will be able to generate roughly about a million kilowatt hours of clean energy each year,” says Atty.

Leviste.

According to Arch.

Nati, both towers will also have the capacity to manage the absorption of power from different suppliers, like the photovoltaic panels (to be placed on the rooftop upon building completion) and biomass generator sets, happily stating, “This will guarantee savings on the electric bills of the residents and tenants of the condominium, which, as you all know, like Italian design, never goes out of style.”

by Irene Joy B. Dayo of The BWM Group of Newspapers

clash of talents packed SM City last August 10 when Miss CDO 2013 candidates showed their talents before the audience, spectators and their supporters.

The Talent Night of the pageant surprisingly showcased various kind of dances as well. Dancing performances has dominated among talent presentations exhibited in the event.

Candidate number two, Lyciel Mae R. Mabalo per for med a n elephu n k dance routine. This dance is popularized as an Indian-Thai dance style. She portrayed a new generation of Indian woman which gives emphasis on the movement that depicts Indian culture.

Mary Mikaela Montalban, Candidate number three, performed an interpretative dance, a dance that put poetry into motion. Her interpretative dance is all about the struggles of a person forced to distance himself from someone who means a lot.

Candidate number four Ma r y Joy Obsioma a lso interpreted through dancing a certain song titled I Will Be Here which is all about a love story. Amadea Lucia T. Patti, Candidate number five, danced a hit song “”Diamond” together with her all-girls back up.

Candidate number six Jane R. Maceda’s dance is focused on a Muslim Dance, highlighting bamboo as dance accessory.

A neo classical dance drama was performed by Karissa Grace R. Falcon, Candidate number seven. This dance drama of hers showcased the making up of Cagayan de Oro. Her dance stressed that a war would never happen because love does not permit it to happen.

Candidate number eight Jenalie Ubanan performed another kind of popular Muslim

Dance, the Singkil dance. This dance expresses the culture and tradition of Muslims.

A Badjao dance, on the other hand, was performed

by Kristia Jolina B. Alde. This dance is called Janggay dance, also known as the Fertility Dance of Badjaos.

Other candidates showed their talent way different from dancing. Candidate number one Keena Alyssa Prell S. Dacubor showed her talents of dancing and singing. She also showcased an acting rendition of the songs popularized by a Grammy award winner Adelle.

G r a c e G i f t T. C hu a presented her painting talent, while Candidate numbers eleven and twelve Cyd Marie A. Simene and Rona Cristy Flores performed singing presentations. Simene had her own version of a highly popular song of Adelle, the Rolling in the Deep. Flores, on the other hand, sang the “On My Own.” She also mixed a little acting performance inspired by a world class artist Lea Salonga.

A panel of judges was invited to adjudicate the competition. The result of the Talent Competition will be announced in the pageant proper which will be held on August 24, 2013 at The Atrium of Limketkai Mall.

On the other hand, the Miss Cagayan de Oro website was also introduced to the public on the same night of Miss CDO 2013 Talent Night. It was created

by People’s Index Solutions, an IT solutions company based in the city. Anyone who wants to know about the Miss Cagayan de Oro can visit the portal www. misscdeo.com. Miss Nadine Hendrikka Legaspi, company’s part-time content editor, presented and explained the website before the spectators.

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Lending... from page 3

loa ns ex tended to fou r sectors that comprise 62.39 percent of banks’ total loan portfolio, namely financial intermediation, real estate, manufacturing, and wholesale and retail trade.

Despite the drop in NPL ratios, banks have been building up the amount of money they set aside to cover loan losses. BSP data show loan loss reserves have climbed to P130.26 billion last May from P129.42 billion in April and P124.45 billion in May of last year.

Earlier, the International Monetary Fund (IMF) raised concern about the financial difficulties of an unnamed conglomerate, warning that a default on its debt would bring dow n its lenders’ capital, triggering a credit crunch. The BSP has since dismissed this, pointing to the improvement in credit qua lit y, as measured by banks’ NPL ratios.

Launches... from page 3

“I look forward to more destinations to be operated

by Cebu Pacific, and rest assured of the support of t he government i n t his endeavor,” he added.

For book ings and inquiries, guests can go to www.cebupacificair.com, or call their nearest travel agents. The latest seat sales can also be found on CEB’s

official Twitter and Facebook pages.

CEB currently operates 10 Airbus A319, 27 Airbus A320, 1 Airbus A330 and 8 ATR-72 500 aircraft. Its f leet of 46 aircraft is one of the most modern aircraft fleets in the world. Between 2013 and 2021, Cebu Pacific will take delivery of 15 more Airbus A320, 30 Airbus A321neo, and 5 Airbus A330 aircraft.

Prohibits... from page 4

consent w it h assista nce of counsel. No interview shall be allowed without the presence of counsel unless the suspect waives such privilege in writing.

Guiao said law enforcement agencies usually present a suspect or a set of suspects in a press conference with an announcement that a case has been solved. It is during these fora that the public gets a first glimpse of the suspects.

“In t he process of presenting suspects in a press conference, however, some fundamental rights are violated,” he said.

“W hi le a n accused enjoys due process and the constitutional presumption of innocence, a suspect who is presented in a press conference is subjected to unwarra nted publicit y,” Guiao said.

Violators face six months to six years imprisonment or a fine of P20,000, or both at the discretion of the court.

If the offender is member of t he police force, law enforcement agency or the Philippine Bar, the penalty to be imposed shall be six to eight years imprisonment.

(HoR)

Budget... from page 4

to medical aid is wanting.

Unlike public school teachers and personnel who work in relatively safe environments, public school educators and personnel do not enjoy t he sa me benef it,” sa id Magsaysay.

Citing the adage “Health is Wealth,” the legislator said sustaining a clean bill of health is an investment towards productivity and better public service.

“Healthy mentors and e mploye e s re d ou nd t o conducive teaching and le a r n i n g e nv i ron me nt .

Their constant service is fundamental to achieving educational goals particularly i n t a k i n g c a re of t h e intellectual, emotional and psychological needs of the learners. With able-bodied school employees, quality education can be achieved,” said Magsaysay.

I n Ho u s e B i l l 2 9 0 , Magsaysay proposed that compulsory medical exa mination sha l l be provided free of charge for all public school educators and employees, and shall be repeated not less than once a year while in active service.

Where medical

examination shows t hat treatment or hospitalization is necessary, the bill provides the same shall be provided free by the Department of Education (DepEd) or the government entity paying the salary of the said public teachers and employees.

In regions where there is scarcity of medical facilities, educators and employees may obtain elsewhere the necessary medical care with the right to be reimbursed for their travelling expenses by the DepEd or the concerned government entity, the bill provides.

Furthermore, the measure provides that public educators and employees shall be protected against the consequences of employment injuries in accordance with existing laws. The effects of the physical and nervous st ra in on t he hea lt h of educators and employees shall be recognized as a compensable occupational disease in accordance with existing laws. (HoR)

Boost... from page 4

cereal industry.

The bill aims to aut hor i ze Phi lr ice to collect a certain percentage of t he compe t it ivene s s E n h a nc e me nt Fu nd to finance its establishment and maintenance of research, development and extension facilities and equipment.

Likewise the bill aims to establish by law a minimum annual operating subsidy of P200 million from the annual General Appropriations Act for the salaries of scientists and other personnel.

Teves said without any positive measure from the legislature as soon as possible, a scenario of the cerea l industry as a “dead” industry looms. “This possibility will be a big negative blow on the economy of the nation,” he said.

PhilRice is a government corporation attached to the Department of Agriculture (DA). IT was created under Executive Order 1061 on November 5, 1985[1] and amended by EO 60 dated Nov. 7, 1986. It was created to help develop high-yielding technologies so that farmers can produce enough rice for the country.

Ph i l R ice bega n a s a research unit of the University of the Philippines, Los Baños (UPLB) in 1985, until it beca me an independent government ow ned a nd controlled corporation. Its headquarters were moved from UPLB to Science City of Muñoz, Nueva Ecija, although it still maintains a research center in Los Baños.

(HoR)

RIO... from page 5

just money, right? So why do we want to make money?

Do we want it for travel, for our kids’ education, for my eventual retirement, or for my medical fund? Many invest because they want to make money (I myself thought

that was the sole purpose of investing). But I realize that once my investment earns a return, what then? In every investment I make, I have got to plan what they are for (retirement, education, travel, etc.). Set goals as they say.

Otherwise, these investments won’t really mean anything.

Educat ing myself on t he v a lu e of f i n a nc i a l planning gave me a different perspective about money. It taught me how to be rich, not in monetary terms, but in life.

If you’d ask me if it was worth the investment, well, for a life that is more meaningful and less worrisome financially, I’d say it was a bargain. (BM)

Rises... from page 5

in a 48.2 percent surge in the service fees of the Securities Clearing Corporation of the Philippines (SCCP), PSE’s wholly owned subsidiary, to P250.78 million.

Tota l va lue t u r nover expanded by 48.2 percent to P1.40 trillion in June 2013 from P947.73 billion in June 2012. That translated to an average daily value turnover of P11.51 billion from P7.64 billion in the same period last year. “ T he sto c k ma rke t ’s remarkable feat in the first half of 2013 supported the good corporate performance of the PSE,” PSE president and CEO Hans B. Sicat said.

Given t he cont i nued s t ron g m a c ro e c onom ic environment and the impact of t he investment grade rating of the country on t he rea l economy, Sicat said “we believe that we can continue to post good corporate numbers through the rest of the year.”

He added t hat “we remain optimistic about the prospects of more listings in the second half of the year as we surpass the market volatilities we experienced a month ago.”

Total expenses for the first six months of the year grew at a manageable pace of 15 percent to P237.14 m i l l i o n f r o m P 2 0 6 . 21 million. (MB)

Floods... from page 5

“During Ondoy in 2009, there were cars that got f lo o de d w h ich had comprehensive insurance but did not have Acts of Nature coverage. Sadly, you need AON to cover you from f lood. The same goes true with fire insurance. You need protection from allied perils such as typhoon and f lood to be able to collect from your insurer,” PIRA said, adding that though f lood is an added cost as far as insurance premiums are concerned, the good news is it doesn’t rea lly cost much.

“For a mere 0.5 percent of the value, you can have your property – your car, house, factory or machinery – insured aga inst f lood which is becoming a growing risk,” PIRA said.

(BM)

Banks... from page 5

inf lation. Trusts accounts unlike bank deposits are not part of loan portfolios and they have distinct and separate client base from that of the parent bank.

As of end-March, of the R3.19 trillion total assets of banks’ trust units, R1.09 trillion are trust investments, up from the same period last year of R840.36 billion.

Trust assets by agency and other f iduciar y businesses amounted to R1.57 trillion and R507.39 billion respectively. Agency trust accounts were higher compared to the same period in 2012 of R1.38 trillion but other fiduciary businesses declined from R581.32 billion last year.

T he big ba n k s’ u n it i nve s t me nt t r u s t f u nd or UITF, which replaced common trust funds, totaled R280.47 billion, higher than last year’s R152.49 billion.

Pre-need t r usts tota led R126.73 billion from R105.69 billion the same period in 2012. (MB)

Host... from page 2

Benedict Hernandez.

Moreover, the ICCCE 2013 will share the latest growth forecast in the contact center industry through the “State of the Industry Report”.

The State of the Industry Report has been anticipated by industry analysts, investors and government in order to forecast the future trend, performance and situation of the industry.

Included in the report is the industry expects to employ 800,000 Filipinos within three years.

The ICCCE 2013 also seeks to highlight Cebu City and other cities outside Metro Manila wherein contact center i ndust r y c a n be boosted.

Cebu currently ranked as No.8 among top 10 contact center destinations in the world.

Other cities outside Metro Manila like Davao City, Sta. Rosa in Laguna, Iloilo City, Bacolod City and Baguio City have been included in the world’s the Top 100 Outsourcing Destinations of the Tholon’s research company.

“It is with great pride that we bring the world’s largest contact center conference to Cebu to open its doors to the world of global outsourcing.

Cebu has much to offer by way of its talented and friendly people, modern infrastructure, and sound business climate,” Hernandez noted.

Meanwhile, the industry organization is inv iting professiona ls both from public and private sector to join the world’s largest contact center.

Interested individuals may visit the ICCCE 2013 website and can register through w w w.iccce.com.

(PNA)

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Approval...

Survey...

was given on September 12, 2012, has a capacity of 162 residential and commercial units, ninet y percent of which are already sold, while the rest are already being rented out.

“Being the first green building in CdO is really a great advantage,” says Arch.

Romolo V. Nati, Chairman and CEO of ITPI. “We are setting the trend here in the most competitive city in the Philippines. We also purposely selected to put our project in uptown Cagayan de Oro because of its good urban planning, better air qua lit y and higher land area – 110 meters above sea level – making it practically a flood-free zone,” adds the Italian architect.

On the energ y-saving feat u res of t he projec t, Arch. Nati shares: “With our unique design, our unit owners appreciate the natural airflow and light that comes into the building through the inner courtyard. Also, the shaded façades prevent the sunlight from hitting the windows directly, reducing internal unit temperature.

All these contribute to the lessening of their electricity use, specifically, the use of air conditioners.”

Atty. Jose D. Leviste III, President of ITPI, explains, “We give high importance during the design phase of the project so we are able to make use of local materials and knowhow during the construction phase, ensuring its quality and affordability.

Because of this, more people are able to afford better and healthier, and of course, beautiful homes and take adva ntage of t he g reen energy and good lifestyles.

The residents say they love the weekly Zumba lessons conducted at Primavera Residences.”

T he second tower of the Italian-Filipino Joint Venture is set to f inish construction in 2014 and will have a capacity of 166 residential and commercial units. “Once the project i s c omple t e d , t he t wo towers will be equipped with a pioneering system that will enable them to produce and manage their own reliable and affordable renewable energy. Primavera Residences will be able to generate roughly about a million kilowatt hours of clean energ y each year,” says Atty. Leviste.

According to Arch. Nati, both towers will also have the capacity to manage the absorption of power from dif ferent suppliers, li ke the photovoltaic panels (to be placed on the rooftop upon building completion) a nd bioma s s gener ator sets, happily stating, “This will guarantee savings on t he elect ric bi l ls of t he residents and tenants of the condominium, which, as you all know, like Italian design, never goes out of style.”

poverty in urban areas.

It can be recalled that the DSWD conducted the first assessment in 2009 where 10.9 million household were assessed resulting in the identification of 5.25 million as poor using proxy means test (PMT), a statistica l formula that estimates family income based on observable family characteristics.

Beneficiaries of government programs such as Pantawid Pamilya, National Health Insurance Program, Social Pension Fund, among others, were taken from 2009 database of Listahan.

In preparation for the u p c o m i n g a s s e s s m e nt , DSWD will be hiring more t ha n 47,0 0 0 f ield workers who will act as supervisors, enumerators, area coordinators, encoders and verifiers. They will undergo training and will then be deployed in the provinces, towns, and cities in the country.

DSWD said that the 2013 assessment field workers will be using android tablets instead of the traditional paper and pencil as the primary data collection tool in urban areas.

“The use of tablets as data collection tool and encoding device will minimize the risk of losing the family assessment forms during shipment and expedite the data collection process in urban areas,” said DSWD Secretary Dinky Soliman in a statement.

However, due to t he absence of reliable internet connection, enumerators assigned in rural areas will continue to use paper and pencil.

This year’s assessment will also use the barangay community characteristics derived from the 2009 Census of Population and Housing as determinants of poverty status in the new PMT model.

This year’s nationwide assessment has a budget of P1.9 billion that includes the cost of service of field staff, procurement of IT equ ipment , produc t ion family assessment forms, and conduct of validation activities, among others.

Listahan will also be able to classify occupation of family members into 431 specific categories consistent with Philippine Standard Occupation Classification.

from page 1

from page 1

Rufus... from page 1

activities of these tigbas that not only destroy the journalism profession but a lso t he image of ot her journalists who are credible, have integrity and who follow the professional ethics of journalism.”

Rodriguez disclosed that he re-filed last week HB 1047 or An Act Providing for a Magna Carta for Journalism, which he first filed on July 8, 2010 but failed to get the approval of the 15th Congress. It was referred

to the Committee on Public Information, then headed

by Rep. Ben Evardone, on Aug ust 2, 2010 but had not passed muster at the Committee level.

H B 10 47 s e e k s t h e creation of the Philippine C e nt e r for Jou r n a l i s t s (PCJ) which will act as the accreditation center of all journalists in the country.

The PCJ will also administer professional examinations for all journalists before they are allowed to work in the journalism profession.

“Accredited journalists shall be entitled to all benefits and privileges to be accorded to them by law, by their employers and by the PCJ,” he said in his proposed measure.

Journalists who have at least 10 years continuous experience in the journalism profession are exempted by PCJ examinations.

The PCJ is also mandated to promulgate a code of ethics for journalist. And any journalist found guilty of violating the code of ethics will be suspended and/or his accreditation withdrawn.

“It is necessary for the enactment of a law that will ensure a living wage, an atmosphere conducive to productive journalism work, reiterate value of ethics, provide for development programs that will deepen the practice of their profession, and promote the defense and protection of freedom and human rights of journalists and their organizations,” Rodriguez said in the bill’s explanatory note.

Once passed into law, the Magna Carta for Journalists a s s u r e s a l l a c c r e d it e d journalists to be “provided with benefits packaged at par with the current benefits enjoyed by those in the labor force.”

“If we lawyers must first take an exam; like doctors and other professions; why not journalists? This way, we can professionalize the journalism profession and weed it from unscrupulous characters,” he said.

Rodriguez also urged all journalists to put into writing their objections, comments and suggestions about the proposed measure and give them to him so he can amend his bill for the good of all journalists.

“I su g ge s t you help convene the Cagayan de Oro Press Club and discuss this bill. Then give me all your inputs, favourable or not, so I can also make the bill better,” he said.

Only 122 out the 143 cities and 163 out of 1,491 municipalities nationwide or a total of 285 LGUs out of the total 1,634 were included in the 1st Index Ratings, he said.

The Index ranked the cities and municipalities by three main factors: economic dy na m ism, gover n ment efficiency and infrastructure, he said.

The Municipality of San Francisco is ranked number 6 in economic dynamism and number 14 in terms of electricity rates.

Butuan City ranked No. 5 in economic dynamism, No. 2 in number of new business registration, No. 6 in business registration renewals, No. 9 in capitalization of new business registrants, No. 15 in capitalization of business renewals, No. 13 fastest travel time to airport, No. 9 in number of cell sites and No. 17 in electricity rates, said Pagaran. (MB)

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from page 6

Cited...

competitiveness indicators at local levels developed by the National Competitive Council (NCC) and t he United States Agency for International Development (USAID) under the “Invest Project.”

“The data gathering was undertaken in partnership with the Regional Competitiveness Committee (RCC) i n t he reg ions ,” Pagaran said.

Higher... from page 2

significantly and external inf lows proved diff icult to ma nage a nd spurred overheating in the economy, contributing to banking pressures.

S&P also warned that the financial condition of any of the country’s major conglomerates might also affect the country’s credit rating.

“We may also lower the ratings if problems at one of the large conglomerates impair investor confidence, or if political developments cause the government to veer from its commitment to improving governance,” it said.

S&P said the country’s low p er c apit a i ncome level remained a key rating constraint. “Per capita GDP, at a projected $2,838 in 2013, is below that of most sovereigns with a similar rating. The concentrated nature of many product and service markets in the economy, infrastructure shortfalls, and restrictions on foreign ownership deter foreig n i nvest ment a nd constrain growth prospects.

The economy is also unable to absorb all of its productive workforce, as suggested by the high level of emigration,” it said.

The credit rating agency said the real GDP per capita growth of 3.3 percent over the past decade was slow for a country “at this stage of development.” (MST)

Hurst...

and strength.

So why not ask Jesus Christ to forgive you for all the ways you’ve hurt and wronged Him? Then, you’ll have His power to forg ive ot hers like He did for you.

Just Think a Minute…

Batas...

from page 6 coming more regularly now.

They will be coming more

ferociously, and in more and more destructive and deadly fashion. After Maring, new typhoons will come, and after the current “habagat” or monsoon rains will have stopped, more will surely come.

C o n s e q u e n t l y, i t i s important to understand t hat t here is not hing P r e s i d e nt Aq u i n o a n d h i s e nt i r e gove r n m e nt c a n do to s ave a nyone of us. T here is not h i ng Vice President Binay can do, too. And yes, there is nothing that our senators and congressmen, and our governors, congressmen, mayors, vice mayors, and councilors and barangay officials can do, the trillions of pesos i n pork ba r rel funds in their command notwithstanding.

More deadly and destructive rains, f loods, a nd s t ron g w i nd s w i l l come, in the manner that science and Jesus Christ, our God and Savior, both predicted to happen. In the face of all these, there is only thing that we can do to be delivered from death and destruction, and it is to listen to God and obey His commands, as He Himself said repeatedly in the Bible.

There is no other way for us, is there?

-ooo W H O W I L L TA K E CHARGE OF POR K BA R R EL? If we remove the pork barrel allocation of our senators and congressmen, where will t he mone y go i n s te ad?

Who will take charge of using such a tremendous a mou nt of money a f ter t hey a re removed f rom our law ma kers? The department secretaries and the people assigned by the executive department? Will corruption in the use of this money stop when it is the executive department that handles it? Just asking.

-ooo TRILLIONS OF PESOS WASTED: Now, it is more than clear that the sewage a n d s e we r a g e pr oj e c t s a nd ot h e r gove r n m e nt infrastructure programs aimed at stopping f loods all over the country have miserably failed---thereby making it clear likewise t hat t he t ri l lions a nd t r i l l ions of gover n ment money supposedly used to finance them, including the pork barrel allocations of Malacanang and Congress, all went to waste.

I wonder what Ma lacanang and our lawmakers from the House of Representatives and the Senate will now say about their right to receive pork barrel? Will they still insist on further receiving the a l loc at ions, even i f t he money is not being used for the good of the people?

Even if, as is show by the recent f loods, people could h ave avoid e d dy i ng , i f only the money received as pork barrel were used legitimately?

-ooo-

11

R E AC T IONS? Plea se c a l l m e a t 0 917 9 8 4 2 4 6 8 , 0 918 574 019 3 , 0922 833 43 96. Ema i l: batasmauricio@yahoo.com, m mau r iciojr111@g ma i l. com.

Bunye... from page 6

Certainly, we can look forward to another fruitful Baiphil year.

Note: My book, Central Ba n k ing for Ever y Jua n and Maria is now available in main branches of Fully B o ok e d , Powe r B o ok s , National Book Store, and University of the Philippines Press.

Cimagala... from page 6

We have to understand t h at t he t r u e s t a nd a rd and measure, the source and purpose of our ad apt abi l it y, f lex ibi l it y and versatilit y can only in Christ. We have to be wary when we reduce our sense of t hese qua l it ies to some human criteria, l i k e s he e r pr a c t ic a l it y, publicity, or worse when we make them a tool for hypocrisy and deception.

T hu s , we have to b e careful with a current and popular trend that equates ad apt abi l it y, f lex ibi l it y a nd versat i lit y w it h a relativistic, anything-goes type of mentality. We now of ten he a r ab out b ei ng democratic, being tolerant and all that, but if all these claims of democracy and tolerance are not hinged on God, t hen we a re in for disaster.

That’s what happening behind the worldwide move to legalize abortion, samesex u nions, eut ha nasia, e t c . T h e r e ’s a l w ay s a n appeal for so-called d e m o c r a t i c r i g ht s a n d being tolerant with those who have different ideas.

While we have to uphold and defend the ideals of democrac y and socia l tolerance, what we cannot do is to make these ideals absolute, basing them only on one’s personal opinions and preferences or on some human consensus alone.

That would be an abuse of freedom. That wou ld unhinge our democrac y a nd s e n s e of t ole r a nc e from their proper source.

We need to consistently re fe r ou r s e l ve s t o G o d and others always in our life—in our thoughts and desires, words and deeds.

That is the reason why our Lord, when asked what the g re ate st com ma nd ment was, replied t hat t he g re ate st i s to love G od w it h a ll our might, and the second is to love our neighbour as ourselves.

Love of God and love of others always go together.

It i s t h i s l o v e , a l w a y s supported by the proper doctrine and virtues and empowered by God’s grace t hrough t he sacra ments that ma ke us effectively ad apt able , f le x ible a nd versatile.

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