BusinessDaily (July 22, 2013)

BusinessDaily J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY

CREDIBLE

Volume III, No. 260

Market Indicators As of 6:12 pm july 19, 2013 (Friday)

FOREX

PHISIX

US$1 = P43.35

6,621.02 points

7 cents

X

27.33 points

X

Briefly Chamber lauds ‘Hapsay’ THE Cagayan de Oro Chamber of Commerce and Industry Found ation, Inc. (ORO CHAMBER) on Friday lauded the city government’s move to widen major roads by phasing out the mini stalls of sidewalk vendors and even suspending the operations of the famed Night Café here.

The business group was glad to note that sales had improved among many of its member-companies especially those located in the Plaza Divisoria area.

“We are happy to receive reports from our members of sales improvement,” said Oro Chamber President Efren Uy. Uy believes that in freeing the streets with sidewalk vendors, legitimate enterprises can already cater to more customers because of increased visibility of their stores, not to mention the absence of clutter.

RELIABLE

Cagayan de Oro City

Monday

P15.00

July 22, 2013

Mindanao remains top producer of agri exports

W

By IRENE DOMINGO, Reporter

HILE the Philippines continues to lag behind Asian neighbours in terms of exporting agricultural products, Mindanao remains as the country’s premier food source and agri-business producer, generating more than US$ 3 billion worth of agricultural exports and accounting for 60 percent of the country’s total agricultural exports in 2012.

The region also posted an export growth of 16.7 percent, more than double as compared to the country’s 7.6 percent increase in exports last year.

“Despite the challenges brought about by natural ca la mities, Minda nao managed to post positive international trade growth, an indication of the region’s top/PAGE 11

photo by rolando sudaria

Tune Hotel on expansion binge; to add 5 sites in next 18 months

‘No mining’ THE Cagayan de Oro City government will no longer issue “special permits” for small scale miners in the hinterland barangays here, the City Council’s Committee on Environment announced on Thursday.

City Councilor Zaldy Ocon, chair of the environment committee, said “walay nay issuance nga bag-ong permits especially the kind of special permit granted by Emano” (There would no more issuance of new special permits patterned after that of Emano).

Ocon disclosed that former City Mayor Vicente Emano has issued more than 80 “special mining permits” which allowed small scale mining operations in villages near the Iponan River, a river near the city’s bordering town of Opol in Misamis Oriental.

IN-DEPTH

Welders using Electroweld’s energy-saving inverter and welding rods. photo by remee monique espiritu

Electroweld introduces highly efficient, power-saving products By: REMEE MONIQUE O. ESPIRITU, Reporter

ELECTROWELD Ma nu fac t u r i ng Corporation, the country’s le ad i ng m a nu f ac t u rer

of weld i ng elec t rodes, introduces its variety of products, including an energ y-sav ing inver ter

welding machine, during a demonstration seminar held in Cagayan de Oro electroweld/PAGE 11

INTERNATIONAL hotel g r o u p Tu n e Ho t e l s i s increasing its presence in the Philippines with the opening of its first hotel in Cagayan de Oro (CDO) in Mindanao and 5 more hotels planned over the next 18 months.

T h i s l at e s t op en i ng marks their 5th hotel in the Philippines after Angeles City, Ermita and Makati and Cebu City. New locations will be in Mindanao, Quezon City and Manila.

“Thanks to the booming Philippine economy and its very healthy tourist arrivals, we are very pleased with our performance here since we opened our very first Philippine hotel at Angeles

City, Pampanga more than two years ago,” Tune Hotels Group CEO Mark Lankester said in a statement Friday, July 19.

CDO is the 10th largest city in the Philippines and is the capital city of the province of Misamis Oriental in Mindanao. The hotel is along C. M. Recto Avenue, the highway to Iligan and Butuan.

“The Philippines is a priority market for Tune Hotels. With the rise of budget travel packages from airlines and increase in business travels, there’s a high demand for value hotels that provide a f ford able, sa fe, clea n, convenient and comfortable expansion/PAGE 11

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

BusinessDaily

2

CREDIBLE

RELIABLE

IN-DEPTH

monday - July 22, 2013

Economy

CDO biz group lauds ‘Hapsay Dalan’ THE Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) has lauded the city government’s move to widen major roads by phasing out the mini stalls of sidewalk vendors and even suspending the operations of the famed Night Café here.

The business group was glad to note that sales had i mproved a mong ma ny of its member-companies especially those located in the Plaza Divisoria area.

“We are happy to receive reports from our members of sales improvement,” said Oro Chamber President Efren Uy. Uy b e l ie ve s t h at i n freeing t he streets w it h sidewalk vendors, legitimate enterprises can already cater to more customers because of increased visibility of their stores, not to mention the

absence of clutter.

Past President Antonio Uy, who owns Marny’s Fastfood and Wang’s Tea Fuzion, shared that conveniencewise, the business operation improved.

Before, they had difficulty loading and unloading the food containers as the vehicle would be normally parked two or three blocks away from the store due to traffic and the helter-skelter in Divisoria, Uy said.

“The city is now clean,” Uy said. lauds/PAGE 10

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Bong D. Fabe

PWDs encouraged to learn skills for small-scale business BUTUAN CITY—As part of the week-long activities for the National Disability Prevention and Rehabilitation (NDPR) Week celebration from July 17-23, 2013, the Department of Science and Technology (DOST) Caraga has spearheaded the Training on Buko/Coconut Juice Processing and Food Safety Awareness held at Butuan City School of Arts and Trade (BCSAT).

In her message, Regional Director Dominga Mallonga encouraged the persons with disabilities (PWDs) to learn more about Buko/Coconut Juice Processing and Food Safety Awareness and put up their own smallscale business.

“Buko/Coconut trees are abundant in Caraga region that is why this is a good start for our PWDs to utilize for their business as their livelihood,” said Mallonga. pwd/PAGE 10

Gov’t invest DOLE teaches tricycle group how to dream big P520-M for Lake Sebu GENERAL SANTOS CITY—The national government is investing around P520 million in the next two years for the completion of major road projects covering parts of the ecotourism areas in Lake Sebu town in South Cotabato and the neighboring areas.

South Cotabato Gov. Daisy Avance -Fuentes said the Department of Public Works and Highways (DPWH) has allocated an additional P400 million for next year for the concreting of a road network connecting Lake Sebu and the municipality of Maitum in Sarangani Province. (PNA)

KO RO NA DA L C I T Y— Barely a year after receiving assistance from the Department of Labor and Employment in Region 12 (DOLE-12), a transport group here has embarked on more projects for its member.

“The national government, through DOLE, has helped us so much not only on establ ishi ng a busi ness venture and earning extra income for our families but also in guiding us to become more responsible,” Remegio Prospero, president of the Unified Tricycle Operators and Drivers Association (UniTODA), said.

The UniTODA is a n orga n i z at ion of most ly low-earning tricycle drivers

here. The group was granted P221,105 under the DOLE’s I nt e g r a t e d L i v e l i h o o d Program (DILP) on May 24, 2012.

T h e DI L P pr ov id e s assistance to marginalized groups through livelihood formation and livelihood enhancement programs.

“The amount was a spent in establishing an enterprise that offers several services l i ke motorc ycle repa i r, vulcanizing, welding and selling of motorcycle parts,” Prospero said.

Services were offered to members and non-members at a cost lower than market prices in Koronadal City.

Members could pay on installment basis. They also

got rebates from the business’ profit.

“Although I cannot give the exact amount at the moment, since our financial reports are with our auditor, I am very sure that assets have grown so much from the time we received the government assistance,” Prospero said.

The project’s success has encouraged more tricycle drivers and operators to join the UniTODA. From 57 in 2010, the group’s membership grew to over 100.

Under the DILP, a group l i ke Un iTODA need to first to undergo capacitybuilding trainings before receiving a livelihood grant.

Training included business dole/PAGE 10

0917-7154399 088-856-8562/63

AMENITIES : ZORBIT * ATV * TREE TOP ADVENTURE BUGGY * BUNGEE * PICNIC GROUNDS PLAYGROUND * CAFE * LUGE * MINI GOLF ROOM ACCOMODATIONS

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Nelson Constantino

Banking&Finance

BusinessDaily CREDIBLE

GOVERNMENT borrowings a re e x p e c t e d t o re a c h P715 billion next year, 2.7 percent lower t han t his year’s estimated borrowings of P735 billion, Budget Secretary Florencio Abad said last week.

“The economy is growing so the ability to generate revenues for consumption also grows. If you borrow less when the country can spend more, revenues are projected to be greater. They make up for less borrowings,” Abad said at a briefing.

Domest ic loa ns w i l l cont inue to account for t he l ion’s sha re of t he gover n ment ’s tot a l

borrowings next year with P620 billion, less than the P670 billion programmed this year.

On the other hand, about 95.03 billion will be sourced overseas either through bond issuances or in the form of of f icia l development assistance from multilateral financial institutions, Abad said.

The government borrows from the local market via the sale of treasury bills and bonds.

F o r t h i s y e a r, t h e government plans to borrow P630.6 billion locally and P10 4 bi l l ion f rom t he Sees/PAGE 10

PHILIPPINE Savings Bank, the thrift bank arm of the Metrobank Group, posted another record net income of P2.9 billion in the first six months of 2013 from P1.4 billion the previous year due to the continued expansion of its loan portfolio and gains from its investment portfolio. The Bank’s first ha lf per forma nce has already surpassed its P2.3 billion full year net income in 2012.

Net interest income grew 13% year-on-year to P3.2 billion. Interest Income from

loans rose by 16% primarily due to the expansion of its lending activities. The Bank ’s gross loans went up by 21% to P81.0 billion as affordable interest rates and improving consumer sentiments continue to drive loan demand.

“We are experiencing strong demand for both auto and mortgage loans.

New loan releases surged by 45% from last year. If this pace holds up in the second ha lf, our loa n por tfolio may be 22%-24% higher than previous year.” PSBank

President Vicente R. Cuna said.

Even with the increase in loans, net NPL ratio remains low at 0.3%. To f ur t her s t r e n g t h e n t h e B a n k ’s balance sheet, it set aside additional loan provisions amounting to P1.1 billion du r i ng t he per iod t hus increasing NPL coverage to 107%.

Declining interest rates i n t he s e c ond qu a r t e r has allowed the Bank to recognize oppor tunities f rom its invest ments in PSBank/PAGE 10

IN-DEPTH

monday - July 22, 2013

Forex surplus Government sees 2014 jumps in June borrowings at P715-B THE country’s balance of payments (BOP) surplus rose significantly in June on sustained inf lows of remittances, business process outsourcing (BPO) receipts and investments.

Data from the Bangko Sentral ng Pilipinas (BSP) showed the BOP surplus hit $692 million last month, significantly higher than the $75 million in June last year.

“The six month cumulative surplus of $2.6 billion keeps us on track to meet the full-year revised projection of $4.4 billion surplus,” BSP Governor Amando M. Tetangco, Jr. Forex/PAGE 10

RELIABLE

3

Every Filipino indebted PSBank’s first half net income up by P2.9-B by P58,304 at end-May EACH Filipino is in hock for P58,304 at endMay after the government incurred more debt in the first five months of the year.

Data from the Bureau of Treasur y showed the government’s unpaid debt rising four percent to P5.364 trillion this year from P5.147 trillion last year. With an estimated 92 million Filipinos, the per capital burden at end-May amounts to P304 more than the approximately P58,000 at end-April.

The government took out 14 percent more loans from domestic sources, which

comprised 65 percent of the total outstanding debt at endMay. The remaining 35 percent pertained to obligations to foreign creditors.

The increase in overall debt however was tempered by the 10 percent drop in fresh foreign loans.

The government borrows money to ma ke up for shortfalls in tax revenues, which leads to budget deficits.

At end-May, the fiscal gap

stood at P42.83 billion.

Besides financing the deficit, government takes out fresh loans to pay down maturing obligations, which reached P146.38 billion at end-May. The government expects its debt to reach P5.779 trillion this year, an amount equal to 48 percent of the country’s gross domestic product (GDP).

A measure of economic performance, GDP is the amount of final goods and services produced in the country.

BusinessDaily

4

CREDIBLE

RELIABLE

IN-DEPTH

monday - July 22, 2013

AgriBusiness

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Bong D. Fabe

DA hails AFMech Law enactment ‘Golden Rice still under THE Department of Agriculture (DA) welcomed the enactment of Republic Act 10601, or the Agricultural and Fishery Mechanization (AFMech) Law, which aims to greatly improve the land and labor efficiency in the country’s farming sector.

Agriculture Secretary Proceso Alcala said that mechanizing Philippine agriculture and fisheries will increase farm production and farmers’ income, as more cropping intensities will be pursued that will result in higher plant growth.

Aut hored by for mer Senator Francis Pangilinan and Rep. Mark Leandro Mendoza of Batangas, the new law also aims to help reduce postharvest losses now at 10 percent to 37 percent for rice, and 30 percent for corn, as well as accelerate product value-adding through agro-

processing.

The implementing rules and regulations (IRR) for the AFMech Law is expected to be completed by September 26.

The AFMech Law aims to d iversi f y fa r ms a nd a g r ic u lt u r a l pr o du c t s , particularly the intercropping of the 2.1 million hectares of coconut lands, which have remained idle and underutilize for many years.

Based on the findings of the AFMA Experts’ Review in 2004, the dismal situation of agricultural and fishery mechanization in the country

is caused by limited farmers’ access to appropriate and affordable farm machinery and equipment, proliferation of substandard machinery and equipment, as well as inadequate and fragmented support services.

“All these problems will be address by AFMech,” Alcala said.

To provide more farmers with access to appropriate and affordable farm machinery, the AFMech law shall strengthen loca l ma nu fac t u r i ng of agricultural machinery and equipment through joint venture and the granting of incentives under Executive Order 226, or the Omnibus Investments Code of 1987.

“This, in turn will lower the investment cost and create employment particularly in the countryside,” Alcala said.

Last of KOICA-funded RPCs turned over to DA

MATANAO, Davao del Sur—The fourth and last rice processing center (RPC) to be completed under a project that received generous funding support from the Korea International Cooperation Agency (KOICA) was turned over to the Philippine government on Friday.

The RPC in Barangay Sinaragan was completed late last year, and was turned over to the Department of Agriculture (DA).

Rex Bingabing, DA-Phi lippine Center for Postharvest Development and Mechanization (PhilMech) executive director, said that the completion of the RPC in Davao del Sur is a big step in helping reduce postharvest losses of rice farmers in the province.

“The four RPCs established with funding support from KOICA is among the most modern rice processing facilities in the country, and we are thankful to the Korean government for the assistance they have given to this project,” he added.

PhilMech is the proponent of the project to establish four state-of-theart RPCs with funding support from KOICA. Each RPC will benefit rice farmers within a 50-kilometer radius. For the Davao del Sur RPC, rice farmers in the following localities will be served: Bansalan, Digos City, Hagonoy, Kiblawan, Magsaysay, Malalag, Matanao, Padada, Santa Maria and Sulop.

The other completed RPCs are in Tebang East, Santa Barbara, Pangasinan; Amamaros, Pototan, Iloilo; and Poblacion, Pilar, Bohol.

The RPC in Iloilo was completed early last year and turned over to the government on March 16, 2012. In September 2011, the RPC in Pangasinan rpc/PAGE 11

Agri-fishery machinery service centers shall also be established in key production areas for custom plowing, ha r row i ng , ha r ve st i ng , drying, milling and other services that may be owned and operated by registered farmers, cooperatives and associations, Alcala said.

To curb the supply of substandard machinery and equipment, the government w i l l proh ibit t he s a le , mortgage, or lease of farm machineries that do not meet government testing standards and registration with the soon-to-be-created Bureau of Agriculture and Fisheries Engineering.

Sel l i ng of new fa rm machinery without after-sales service will also be prohibited, Alcala said.

DA/PAGE 10

DESIGNER COMPOST. A WAND Foundat ion wo rke r pou rs human urine into a compost heap materials of human feces, biochar, lacto-bacilli, sawdust, river sand and other organic mat ter from the foundation’s farm in Liber tad, Misamis Oriental to make a ‘designer compost.’ The biochar improves the carbon:nitrogen ratio and improves soil in general, the lacto-bacilli degrades humanure quickly, the sawdust improves the carbon ratio as well as traps urine, which improves the overall N-P-K level of the compost.

DavNorte town draws farmers’ interest to organic agriculture BR AULIO E. DUJALI, Davao del Norte—The municipal government of this town is urging rice farmers to go into organic farming seen to boost their income.

In recent interview, Municipal Mayor Lolita Moral put her hopes on organic farming to deliver farming residents from economic hardship while citing efforts of government line agencies to raise the level of organic crop production in town.

Recently, the Department of Trade and Industry Davao del Norte Province Office turned over P210,000 worth of organic fertilizer production shared service facilities, among which were 38 plots of vermi beds, vermi sifter and pails for vermi tea brewing.

S h e a l s o re ve a l e d t h at t h e Department of Agriculture-XI will soon be funding the construction of a P1.5 million worth of market building

where farmers can display all crops produced through organic farming.

The municipal government recently turned over to the Braulio E. Dujali Municipal Officials and Employees (BEDMOE) Cooperative the P1- million cash prize it got from DA as the AgriPinoy Rice Achiever awardee.

BEDMOE uses the P1 million as working capital to buy organic palay at a higher price than the ordinary rice produce as an incentive to rice farmers that the Municipal Agriculture Office (MAGRO) has certified as organic producers.

“To encourage them to go on producing organic rice, we are buying organic palay at P1.00 higher than the prevailing price of ordinary rice,” she said in vernacular.

Carved out from Panabo City and the Municipality of Carmen, organic/PAGE 11

development, evaluation’

GOLDEN Rice is still under development and evaluation and may take many more years before it is commercially sold .

The International Rice Research Institute (IRRI) said “it will be available to farmers and consumers only if it has been determined to be safe for humans, animals, and the environment and authorized for propagation and consumption by the appropriate regulatory authorities.”

If Golden Rice is approved by national regulators, then Helen Keller International will evaluate whether or not daily consumption of Golden Rice improves vitamin A status among adults through a communitybased study in the Philippines.

“That could take a year or more to complete,” IRRI said in a press statement.

“Human nutrition studies help us understand how well the beta carotene in Golden Rice is converted to vitamin A or how ‘bioavailable’ it is,” it said. “Knowing more about the bioavailability of the beta carotene in Golden Rice helps determine if it can improve vitamin A status.”

IRRI said it plans to develop a delivery program that would ensure that Golden Rice could reach those who could benefit most in vitamin A-deficient communities and contribute to addressing this important nutrition challenge for millions of women and children around the world.

Golden Rice contains beta carotene – a source of vitamin A – and could be another way to address vitamin A deficiency.

Golden Rice has gone through all safety evaluations that have been appropriate and required at each stage of our project, IRRI said.

“We are following international and national guidelines for food safety of genetically modified crops, which require assessment of the nutritional value of Golden Rice and potential toxicity and allergenicity of proteins from the new genes in it.

Citing a study published in the Journal of Nutrition, IRRI said food safety-related studies that have been completed to date conclude that beta carotene in food is a safe source of vitamin A. Beta carotene is found and consumed in many nutritious foods eaten around the world, including fruits and vegetables.

The beta carotene in Golden Rice is the same as the beta carotene that is found in other foods, IRRI said, citing another study published in the journal Nature Biotechnology.

Based on a preliminary report from the University of Nebraska’s Food Allergy Research and Resource Program, the proteins from the new genes in Golden Rice do not show any toxic or allergenic properties, IRRI said.

It cited a United Nations Food and Agriculture Organization’s (FAO) 2013 State of Food and Agriculture report that two billion people suffer from one or more micronutrient deficiencies.

That is, 26 percent of all children under five are stunted and 31 percent suffer from vitamin A deficiency.

“In social terms, child and maternal malnutrition continue to reduce the quality of life and life expectancy of millions of people,” the FAO report says.

Vitamin A deficiency is most prevalent among young children and pregnant women and lactating women as they have increased needs for important nutrients.

Studies have shown that providing adequate amounts of vitamin A can reduce overall child mortality from common illnesses (including measles, severe pneumonia and persistent diarrhea) by 23 percent to 34 percent, IRRI said. golden/PAGE 11

Read the latest in business every Sunday,

BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

BusinessDaily CREDIBLE

RELIABLE

IN-DEPTH

monday - July 22, 2013

5

BusinessDaily

6 T

CREDIBLE

RELIABLE

Opinion

IN-DEPTH

monday - July 22, 2013

Better late than never THINK

hink a minute…Harlan was only 5 years old when A Minute his father died.

By Jhan Tiafau Hurst When Harlan was just 14 he quit school and started working on farms.

At 16, he lied about his age and joined the American army.

After serving only 1 year as a soldier he left and tried becoming a metal worker, but he failed at that too.

Finally, Harlan got a job working on a train locomotive and liked it. He thought he had finally found his place in life.

Harlan married at age 18, but within months he was fired from his job so his bride left him.

Over the next years Harlan worked many more jobs.

He tried selling insurance and car tires. He tried operating a ferryboat.

Then he managed a gas station.

But it was no use. Harlan just seemed to be a born loser!

Finally, late in life, he became a cook and dishwasher at a restaurant.

But soon he was too old and forced to retire.

His wife had since returned to him, but he and his family were so poor that they could hardly buy food for their family.

At the age of 65, Harlan’s first retirement check came from the government.

It was so small that it made him very angry.

At that moment, He decided to use that small retirement check to start a new business.

Today, that business of Harlan’s is prospering and succeeding all over the world!

That man who failed at everything he did all his life, still refused to be a failure!

Harlan decided it was time to start again, because it’s hurst/PAGE 7

BusinessDaily CREDIBLE

RELIABLE

IN-DEPTH

DANTE M. SUDARIA Publisher ROSE MARY D. SUDARIA, Ph.D. Manager

NELSON CONSTANTINO Editor-in-Chief

BONG FABE

Executive Editor

Ruel Pelone Online editor

cris panganiban Regional Editor

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

DOLLY PELONE Comptroller

ALLAN MEDIANTE Managing Editor Shaun yap uy Section Editor

Remee Monique Espiritu Staff Writer

CLIFFORD SANTILLAN RONALD B. MASTAIL

L

M

Advertising

Juni Law Office Cruz Taal St.,CDO Legal Counsel

The Business Daily is published by BusinessWeek Mindanao Advertising and Promotions daily with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Department of Trade and Industry (DTI), Region 10 with Certificate No. 00875701, and with Business Permit No. 2013-10946, TIN No. 946-396-807 – Non VAT. Tel. Nos.: (088)8578447, 745380, 0923-432-0687, 0917-7121424

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

BusinessWeek MINDANAO ADVERTISING AND PROMOTIONS

I

K

of the greatest human king akampi of all, King Solomon... When Mo A ng Batas asked by God as to what he

By Atty. Batas Mauricio wanted… Solomon did not ask for wealth and riches, nor for the death of his enemies, but for knowledge to rule.

God gave it to him, allowing him to become a king like no other…”

Here is that part of the Bible (1 Kings 3) which recounts the story of King Solomon: “At Gibeon the Lord appeared to Solomon during the night in a dream, and God said, `Ask for whatever you want me to give you.’ Solomon answered, `You have shown great kindness to your servant, my father David, because he was faithful to you and righteous and upright in heart… “ `Now, Lord my God, you have made your servant king in place of my father David. But I am only a little child and do not know how to carry out my duties. Your servant is here among the people you have chosen, a great people, too numerous to count or number. So give your servant a discerning heart to govern your people and to distinguish between right and wrong. For who is able to govern this great people of yours?’

Batas/PAGE 7

A financial system you can bank on

any factors play in the success of an economy and one of these is the presence of a sound financial system.

In the Philippines, the financial system is composed of banks and non-bank financial intermediaries that channel the savings of households, firms or governments into loans and investments.

At any given time, there will be those with excess funds and those who are short of and in need of funds. What the financial system does is that it acts as a go-between between suppliers of funds and users of funds so that these resources can be used more productively and in the process help grow our economy.

The Bangko Sentral plays a very important role as the supervisor and regulator of all banks and non-bank financial institutions with quasi-banking functions.

The Bangko Sentral ensures the soundness and stability of the system through efficient and effective supervision and examination.

The BSP ensures that management of banks pass the “fit and proper” test, that they adhere to strict good governance and that at all times bankers discharge their fiduciary responsibilities which require high standards of integrity and performance.

The BSP also requires banks to maintain a healthy

Layout Artists

Cell No: 09352379999 (088) 857 3599

SONA 2013, part II: Biggest challenge to a president

IFE’S INSPIRATIONS: “… whoever wants to become great among you must be your servant, and whoever wants to be first must be slave of all…” (Jesus Christ, our God and Savior, in Mark 10:43-44, the Holy Bible).

-ooo BIGGEST CHALLENGE TO ANY PRESIDENT: Here is something that appeared in this column in the past, which we are reposting in time for the 2013 State of the Nation Address (SONA) of President Aquino, to remind him what, really, is the biggest challenge to any presidency: “In fact, the biggest challenge of any president who will serve the country for only a very brief period of six years is to discard grandiose illusions that he, by himself, can do something that will really benefit the nation as a whole, even if he happens to have come from so-called democracy icons, or from parents who are revered worldwide.

“Even if he is the president who has the vast powers of the government at his beck and call, he cannot do anything that will push the country and its people towards success and progress, as President Aquino maybe painfully finding out now. Only God can do something, and the best legacy that any president can ever leave is to bring his people to a better understanding and familiarity of God so they can start being righteous and spiritually revived.

-ooo SOLOMON’S EXAMPLE IN LEADERSHIP: “Any president of this country who is aware of the six-year limitation of his term must strive to follow the example

Crystaline pino ATTY. MARIO T. JUNI

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

and adequate capitalization, not just to service the needs O ut of their client but also to be

By Ignacio Bunye able to withstand unforeseen shocks, whether external or internal.

Capital Adequacy Ratio or CAR has thus become a very good indicator of the banking system’s resiliency.

CAR has breached 17 pct and is expected to go higher as the BSP presses early compliance with Basel III capitalization requirements by January 2014.

Banks in general have shown increasing trends both in deposit generation and in lending. These are indicative of the steadily growing confidence of the general public in the formal banking system.

As a measure of bank’s lending standards, non-performing loans have also dropped to record lows.

The BSP is not just a regulator and supervisor of banks.

The BSP is also very active in advancing its advocacy of bunye/PAGE 7

SPEAKING

The world we love-hate

N biblical literature, the world can elicit two opposing reactions. One is hating it or at least be cautious of it, as in, “What shall it profit a man, if he gains the whole world, and suffer the loss of his soul?” (Mk 8,36) Church Fathers have enlarged that line as typified by some words of St. Ignatius of Antioch: “No earthly pleasures, no kingdoms of this world can benefit me in any way. I prefer death in Christ Jesus to power over the farthest limits of the earth. He who died in place of us is the one object of my quest. He who rose for our sakes is my one desire. Do not talk about Jesus Christ as long as you love this world.”

The other reaction is loving it, because God himself loves it, as in, “For God so loved the world, as to give his only begotten Son; that whosoever believes in him, may not perish, but may have life everlasting.” (Jn 3,16) I am sure that after stirring our mind a bit, we can see that both reactions can be made compatible if we consider the contexts in which they are mentioned. We have to hate the world insofar as it has absorbed our own sinfulness and has become a source of temptation and sin itself.

But we also have to love it because in the first place it is also a creation of God like ourselves, and therefore is good, at least in its original state until we have corrupted it. The world is also where God has placed us to work out our free choice of whether we want to be God’s image and likeness and children as he wants us to be, or not.

It’s important that we don’t get confused and lost in

HINTS

this very nuanced attitude we ought to have toward the and Traces world. We have to outgrow

By Fr. Roy Cimagala the simplistic all-or-nothing mindset that forces us to choose whether we are for the world or against it.

That mentality has produced a distorted culture that divides people into either world ly or ot her-world ly, without making the effort to relate this world and the ‘other world.’

We need to love the world the way God loves it. We just have to learn to purify it because of the anomalies it has acquired due to our sins.

But we need to understand that the world has an inherent objective relation to God and to us that we need to discover, appreciate and enhance.

This is still a point hardly known and understood by many of us. The common attitude is that one is simply on his own as to what to make out of the world. While it’s true that we can discover some natural laws governing the world, we fail to see how these laws come from God and are supposed to be oriented toward God. And so we feel quite free, in a licentious way, to do with it in any way that suits our purposes, but hardly connecting it with God’s plans and providence. This is cimagala/PAGE 7

BusinessDaily

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

CREDIBLE

RELIABLE

IN-DEPTH

monday - July 22, 2013

Hurst... never too late to change!

Guess what that new business was which Harlan started at age 65 with his first retirement check?

Kentucky Fried Chicken.

W h e n C olone l H a r l a n Sanders changed and became successful at this later age, it was after he asked Jesus Christ to forgive him for living his own way and he started living Jesus’ way.

So why not make that same choice yourself right now?

Why not ask Jesus to forgive you for living your own way?

Then ask Him to take full charge of your life every day, for the rest of your life.

No matter how old you are or how many times you’ve failed, with Jesus in charge of your character and life, it’s never too late to change!

Just Think a Minute…

there will never have been anyone like you, nor will there ever be. Moreover, I will give you what you have not asked for---both wealth and honor---so that in your lifetime you will have no equal among kings. And if you walk in obedience to me and keep my decrees and commands as David your father did, I will give you a long life.’

“Then Solomon awoke--and he realized it had been a dream. He returned to Jerusalem, stood before the ark of the Lord’s covenant and sacrificed burnt offerings and fellowship offerings.

Then he gave a feast for all his court…” Perhaps, t he President can learn something from Solomon, right?

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

from page 6

from page 6

from page 6

Batas...

-ooo “A W I S E A N D DISCER NING HEART”: “The Lord was pleased that Solomon had asked for this. So God said to him, `Since you have asked for this and not for long life or wealth for yourself, nor have asked for the death of your enemies but for discernment in administering justice, I will do what you have asked.

“I will give you a wise and discerning heart, so that

Bunye...

of inclusive finance and consumer protection.

The BSP is mindful that while deposits have indeed grown, there are still many out there, especially in the countryside, who belong to the so-called “un-served” or “underserved”.

To reach out to them, BSP teams regularly go out to the fields teaching financial literacy. A good many of those who attend the financial literacy programs

7

are OFW families. Of late, the BSP has partnered with the Department of Education to incorporate financial literacy lessons in core academic subjects.

The BSP’s message: Learn to distinguish between your wants and needs. Spend for your needs but postpone spending for your wants.

Make it a habit to save what you don’t spend. Better still, make it a habit to save in banks.

Cimagala... from page 6

mentality that is quite embedded in us but which we have to reform drastically, since it does not conform to how we in our relation with the world should be.

We need to learn to see God in the world and to act the way God wants us to act in the world. Otherwise, we would just be at the mercy of the blind forces of the world, and vulnerable to the maneuverings the more clever and powerful people around.

We have to start by reminding ourselves that everything that we see, touch, handle, and use comes from God. The very least thing that we can do is to thank God for all these things, a nd t hen tr y to discern what God wants us to do with them.

We can always presume that God has something grand for us to do every day.

He is love himself. His ways, his plans, his interventions

Employees of the Bureau of Fisheries and Aquatic Resources are awed by the size of the Ocean Sunfish or Mola-mola that was brought to their office after the fish drifted ashore and later died in Barangay Macabalan, Cagayan de Oro City, on Friday July 19, 2013. mindanews photo by froilan gallardo

Giant ocean sunfish drifts ashore, dies AN OCEAN Sunfish, also known as “Mola mola,” beached on the shores of Barangay Macabalan here Fr id ay d aw n , st ar t l ing residents who were awed by its sheer size and the noise it made.

The fish, weighing at least 200 kilos and measuring

about seven feet long, died hours after it was found by Macabalan resident Alcer Padera.

Officials said the fish “got stressed when curious people started gathering to see it.”

Miguelito Lim, of the Bureau of Fisheries and

Aquatic Resources’ (BFAR) Fishery Law Enforcement Quick Response team, said Padera narrated to him that he was roused from sleep at around 2 a.m. Friday after hearing something big crashing against his house along the Macabalan sunfish/PAGE 11

in our life are of love. And love is always about being generous, heroic, making big things even out of small things.

This is something we need to be clear and be

strongly convinced about.

Otherwise, we would think our life is just a matter of coasting along and waiting for something big, in human terms, to happen.

If we have the right un-

derstanding of the world, we can always make beautiful music out of the humdrum routine of our daily life, for we would know how to discover God who is love there.

BusinessDaily

8

CREDIBLE

RELIABLE

IN-DEPTH

monday - July 22, 2013

LifeStyle

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

Fortinet Advances its Network Security Platform with New Enterprise Firewall Capabilities MANILA - Fortinet (NASDAQ: FTNT), a world leader in highperformance network security – today answered the question, “What’s next in next-generation enterprise firewalls?” with the new features within its FortiOS 5 operating system, which serves as the foundation for the company’s award-winning FortiGate network security platform.

The new update includes, Feature Select: With one-click, customers can choose from a variety of security configuration options, including: High Speed Firewall, NGFW, ATP, Web Filtering, UTM and others, Contextual Visibility: Gives organizations real-time and historical insight on network use based on application, user and device, Advanced Threat Protection (ATP): Enhanced security tools combat multi-vector persistent attacks.

Eric Ahlm, research director at Gartner, commented: “Security buyers may seek a combination of firewall options, such as NGFW, unified threat management (UTM), virtual and stateful firewalls, to meet a wide range of typical enterprise needs, such as data center, small offices or highly distributed enterprises, as cost-effectively as possible.”¹ “In order to increase protection, simplify management and reduce costs, enterprises today are migrating away from multi-vendor firewall environments in favor of a single-vendor model,” said Jeff Castillo, Country Managing Director of Fortinet Philippines. “For example, an enterprise may have high-performance firewalls for its datacenters, NGFWs for their campus perimeters and UTMs for their distributed offices.

With its singular focus on innovating security and security-focused R&D, only Fortinet provides a true Network Security Platform

with a wide array of robust security functionality for datacenters, campus perimeter and distributed offices.”

Fortinet Network Security: Providing Choice for Specific Enterprise Requirements With Fortinet Feature Select, enterprises can quickly and easily configure their FortiGate appliances based on their unique business and security requirements.

These preset configurations can be done with a single button click at the time of system setup or at any time during the system’s deployment.

Configuration options include NGFW (includes Firewall, intrusion prevention and application control); ATP (includes advanced threat protection and endpoint control); WF (includes Web filtering and explicit proxy); NGFW + ATA (includes NGFW and ATP features) and UTM (includes all previously mentioned features plus email filtering, data loss prevention, vulnerability scanning).

Better Protection with Better Visibility The new Contextual Visibility feature in FortiOS 5 gives administrators deeper insights into historic or real-time network activities using detailed analytics.

The types of data that can be extracted include IP and Port, geographical IP, session type, user names, network usage, network coverage and the types of applications and devices that are connecting to the network. With this,

READ!

www.businessweekmindanao.com

administrators can use correlated data to identify top clients associated with particular threats and further isolate suspicious Websites and IP addresses.

Protection Against Advanced Targeted Attacks (ATA) ATAs, also referred to as Advanced Persistent Threats (APTs), target specific organizations, infiltrate from multiple vectors and can remain stealthy for an undetermined amount of time before exfiltrating data.

The new FortiGuard Advanced Threat Protection Service offers a multi-pronged approach to security that helps protect against attacks that

Distinguished members of one of the District 3870's most active club in fellowship, membership and community service led by President Rommel Esguerra (5th from right, back row)

could arrive via zero day vulnerability, undiscovered malware, phishing emails and/or password hacks.

The features within the ATP service include botnet blacklisting, antimalware signatures and cloud-based sandboxing. wCertified Performance Powered by Custom ASICs Today’s announcement further exemplifies why FortiOS is the world’s most advanced network security

operating system.

When coupled with FortiGate appliances, which feature high performance, purposebuilt network, content and SoC processors that have been certified by industry-leading test and measurement labs, such as NSS Labs,ICSA Labs, Common Criteria, Virus Bulletin and FIPS, network administrators have the power to detect malicious

content at Gigabit speeds.

Other security technologies cannot protect against today’s wide range of contentand connection-based threats because they rely on general-purpose CPUs, causing a dangerous performance gap.

FortiASIC processors help to ensure the network security in place does not become the network bottleneck.

MissCdeO 2013 Candidates Profiles

AMADEA LUCIA TAPERLA PIATTI A girl from Barangay 15 who looks kind of like she has this mestiza beauty, she looks up to famous talk show host Oprah Winfrey as her role model.

A graduate of BS Tourism Management in Liceo de Cagayan, she has a big dream of someday becoming the future Regional or National Director of the country’s Tourism Industry. Making the city and even the country the top tourist destination of the world is what she visions and desires.

JANE RANESES MACEDA

KARISSA GRACE R. FALCON

JENALIE E. UBANAN

Jane graduated BS Elementary Education at Bukidnon State University but is currently residing in Barangay Lumbia and is forever grateful to her ever supportive sister who motivated her into joining Ms. CDO. She believes that CDO has become the melting point of culture, housing 3 different kinds namely the Christians (according to her known as the Dumagats), the Maranaos and the Lumads, and she thinks that is what makes CDO the most beautiful city to her.

A dancer with a passion from Barangay Carmen and a graduate of Ateneo de Cagayan with the degree of Bachelor of Arts in International Studies.

Karissa was motivated to join Ms. CDO because of her intense desire to make a difference, she sees joining Ms. CDO as a medium to turn the words of her desires into action.

Seeing that dance seems to play a big part of her life, she dreams of using dance as a form of advocacy medium for change.

A girl who dreams of becoming a flight attendant and travel the world to experience cultures that will be completely new and different to her, Jenalie comes from Barangay Consolacion and is taking up Bachelor of Science in Development Communication in Ateneo de Cagayan.

If she was crowed Ms. CDO she says she would make her reign memorable by promoting social awareness about poor societal conditions and developmental programs that would build the self-esteem and skills of an individual.

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

ClassifiedAds

BusinessDaily CREDIBLE

RELIABLE

IN-DEPTH

monday - July 22, 2013

9

ZAINZAID TRADING Direct Importer of All Kinds of Japanese Surplus QUALITY and AFFORDABLE PRICE

CDO Branch: National Highway, Zone 1, Igpit, Opol, Misamis Oriental

ROMEO “JAY” DELOS SANTOS Manager

Mobile Nos.: 09268423419(TM)

/ 09083873595

Davao Branch: Diversion Road km.7, Bangkal, Davao City

UMAR ASLAM - 09173254444

Gensan Branch: Brgy. Labangal, San Roque Makar, Gen. Santos City

ROBERT S. GUTIERREZ - 09103424549

Pryce Plaza Hotel Carmen Hill, CDO, Tel. No.722791 to93/858-4537 E-mail:reservations@pryceplaza.ph

--------------------------------NEW DAWN PENSIONNE Velez-Macahambus Sts, CDO Tel Nos. 8571776, 721776 email : gchreservation@yahoo.com

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

FIRE PROTECTION & PLUMBING SERVICES CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

“Dedicated to Quality, Commited to Service.”

CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011

Gaabucayan Extension, Agora Lapasan, Cagayan de Oro City

09269678094 / (088) 3092357 Services Offered: > Wasteline Installation > Leak Pipe Repair > Water Pump Installation & Automation > Downspout Installation & Repair > Waterproofing > Accept Plumbing Estimates > Water Tank Installation > Fire Suppression Installation > Gas Burner Cleaning & Repair > Pull-out Wasteline system Clog-up > Sprinkler Installation > Painting > Window Grill Making > Welding > FREE CHECK-UP w/in 5km radius

When your in Cagayan de Oro City and any part of Northern Mindanao, read...

Mindanao Daily NEWS northmin . caraga . davao Your Mindanao-wide Community Newspaper

BusinessDaily

10

CREDIBLE

RELIABLE

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

IN-DEPTH

monday - July 22, 2013

Lauds... from page 2

Another business, Barkadahan Grill, (a barbecue grill resto), was happy with the sudden boost in sales after the city’s “Hapsay Dalan” (Street Clearing) project stopped the Night Café.

Chamber President Efren Uy congratulated the current city administration for its “Hapsay Dalan” project since it has helped alleviate traffic congestion and restored the order in Divisoria and Cogon Market.

Uy also encouraged the Night Café entrepreneurs to register as micro business enter prises so t hey ca n benefit from the assistance of the different government a genc ie s r a ng i ng f rom technical to financial support under the BMBE Law. The Chamber Executive asked the more than 300

large scale, we have to make sure that foods we sell in the market are clean, safe and worth the price. If we can establish a good business, we can make it grow and expand,” said Mallonga.

With this, the DOST director expressed confidence from page 2 that with enough knowledge, She also emphasized that skills and trainings, PWDs the department provides can achieve their goals in assistance to the PWDs be it life. (PIA) technical or financial. “We can provide assistance to those PWDs in the region from page 2 especially those who have management, accounting and t heir cooperat ives, a nd auditing and many others. provide them technology The organization is also training for their business,” required to shoulder part of the project. In the case of she said.

Mallonga further stressed UniTODA, the group paid that when selling foods, for 27 percent of the total good manufacturing and project cost of P305, 868. sanitation practices must be From 2010 to the first observed to ensure a safe and half of 2013, the DOLE 12 has released P26.8 million quality food production.

“For us to have a successful worth of livelihood assistance business, be it small-scale or to 73 organizations. These directly benefited at least 12,692 members.

Now, the UniTODA has launched its “SSS Alkansya” (piggy bank) project.

“For the project, the SSS constructed boxes that would serve as the piggy bank of members,” Prospero said.

“Each piggy bank has the name of the owner of that box.

Each day, a member will drop P10 to his personal piggy bank, he said. Thus, at the end of a 31-day month like July, a member should have deposited at least P310, only two pesos short of the P312 monthly premium for Night Café vendors who were displaced with the i mplement at ion of t he “Hapsay Dalan” project to be patient since the city now scouts for the best site where they can be relocated. (PNA)

PWD...

DOLE...

a self-employed member of the SSS. “By the end of a onemonth cycle, a personnel of the insurance company would come to the UniTODA shop to collect payments of our members,” he said.

“Under this scheme, our members are able to pay their insurance premium in very small installments.

They are also spared of long queues to pay for their monthly obligations at the SSS office and are instead able to spend the time used in lining up with their work as tricycle drivers, he added.

At present, 97 of its members a lready own a piggy bank located in the organization’s shop.

The group’s plans go beyond this.

“Wit h t he help of a DOLE, we plan to formally register our organization as a cooperative,” Prospero said.

“Considering how we have done so far, I think we may be able to propose to DOLE for a second assistance so we can establish a ‘bulilit (mini) gas station,’” he said. (PIA)

which helps prop up the peso and keeps domestic inflation at bay.

Inflation in the first six months of the year averaged at the lower end of the BSP’s full-year target range of 3-5 percent.

Tetangco said sustained inf lows from remittances, BPO services and investments shou ld in tu rn prov ide fundamental support to the peso.

“We will remain watchful of external developments and will review our projections in the course of time, and revise if needed,” he said.

Sees...

Forex...

from page 3 international market.

T h e A q u i n o administration has been borrowing more from local sources to take advantage of strong liquidity and record low interest rates in the domestic financial market.

The increase in domestic borrowings is in line with the government’s goal to reduce the foreign currency component of its total debt, lengthen maturities, and pare down borrowing costs.

said.

The BOP summarizes t he cou nt r y’s economic transactions with the rest of the world, such that a surplus means dollar receipts exceed payments and a deficit the reverse.

Persistent BOP surpluses help build up the country’s gross international reserves (GIR), an ample supply of

from page 3 gover n ment s e c u r it ie s .

PSBa n k a lso posted a 16% growth in its income from service charges and commissions.

The Bank’s equity was h ig her by 22% at P17.4 billion. This translates to higher capital adequacy ratio of 18.8% which is well above

from page 3

PSBank...

the 10% minimum required level for local banks.

PSBa n k d ist r ibut ion network now includes 222 branches and 536 onsite and offsite ATMs all over the country. (PNA)

DA...

from page 4

Philmech survey: B a s e d on t he l ate s t survey conducted by the DA-Philippine Center for Postharvest Development and Mechanization (PhilMech), the level of mechanization in farms across the country has reached 1.23 horsepower per hectare (hp/ha)—with rice and corn areas recording the highest level of available farm power at 2.31 hp/ha.

In the last two to three years, PhilMech Executive Director Rex Bingabing said that the developments have been significant in farm me cha n i z at ion, ma i n ly because one of the reasons is the rice mechanization program, which has accelerated the adoption of farm machinery. The survey to come up with the latest farm mechanization figure covered 2011 and 2012.

Based on the survey of PhilMech field personnel, 70 percent of the total farm power is available for use in production operations while the remaining 30 percent is for postharvest operations.

Bi ngabi ng ex pressed confidence that PhilMech will reach its farm mechanization target of at least 2 hp/ha by 2016, adding that the 3hp/ ha is “doable.”

The last official figure on farm mechanization was released in the mid-1990s, where it was pegged at 0.52 hp/ha.

In December last ye a r, Ph i l Me c h, c it i ng initial results of a survey on fa rm mecha nizat ion undertaken, said that the farm mechanization level in the Philippines was at least 1 hp/ha, with rice and corn farms having around 1.60 hp/ha.

T he Ph i l Me ch ch ief said that while the latest figure of 1.23 hp/ha shows that farm mechanization is gradually taking root in the Philippines, he admitted that the country is still behind some of its Asian neighbors.

“We are sti l l a lit t le behind, because Thailand is still ahead of us. And developed countries like Japan and Korea are way, way ahead,” he said. (MT)

READ!

MEDIA PARTNERS:

www.businessweekmindanao.com

BusinessDaily

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

CREDIBLE

RELIABLE

IN-DEPTH

monday - July 22, 2013

Top...

from page 1

strength and resilience,” said Mindanao Development Authority Chair Luwalhati Antonino.

She added that i nternat iona l t rad i ng prospects for Mindanao remains very promising, especially with the emerging popularity of agri-based products such as cacao, coco sugar, and coco water that are beginning to attract international markets.

“Coconut copra and palm kernel remained as the top export products of the islandregion last year, cornering almost US$ 1 billion, or 21.26 percent of Mindanao’s total exports,” said Antonino.

She added that coconut has consistently surpassed banana, the traditional export winner from Mindanao, since 2010.

T he l a rge s t bu l k of Mindanao’s coconut exports went to United States, which has been Mindanao’s largest ex por t ma rket. Placi ng second to coconut at 14.94 percent was banana exports produced largely by Region XI. Other Mindanao export products that fared well last year include nickel ores, fruits, nuts, and prepared fish.

The country’s agricultural trade deficit narrowed to $102.34 million in the first quarter of the year from $707.22 million in Q1 2012

– an 85.53-percent change, according to the Bureau of Agricultural Statistics (BAS).

In the first three months of the year, the biggest trade deficit was posted in January at $81.25 million, while March saw a trade surplus of $39.21 million.

Exports peaked in March at $612.25 million, while imports were at their highest i n Febr ua r y at $596.94 million.

Tot a l ea r n i ngs f rom agricultural exports during the period reached $1.64 bi l l ion, a 41. 5 -p erc ent improvement from $1.15 billion last year.

Total earnings from the top 10 agricultural exports (coconut oil, bananas, tuna, centrifugal sugar, pineapples and pineapple products, tobacco manicured, seaweeds and carageenan, copra cake, dessicated coconut, and tobacco unmanicured) grew 45.82 percent to $1.16 billion, while spending for the top 10 agricultural imports (wheat, soybean oil and cake, milk and cream products, bovine meat, fer t i l i z er, cof fee, tobacco unmanicured, urea, tuna, and cocoa) fell 0.37 percent to $847.20 million.

I n a bid to f u r t her capacitate Mindanao exporters on current global t re nd s , t he Ph i l ippi ne Exporters Confederation (PHILEXPORT) Region XI is organizing the 1st Mindanao Exporters Congress (MEC) next month.

Slated from August 1-3 at

the SMX Convention Center in Davao City, the event is expected to draw over 400 key stakeholders in the export industry chain, including farmers, producers, food processors, service provides, manufacturers, as well as key government officials.

“As Mindanao positions itself as a top player in processed food exports, we want to sustain the region’s performance in terms of its agri-based products,” said Ferdinand Marañon, President of PhilExport XI, adding that, “this congress also provides the venue for our exporters to share industry trends and technological innovations.”

He added that Mindanao of fers i m mense g row t h potentials particularly in agriculture with the region undeniably becoming as the country’s food basket and agri-processing hub.

“As parallel effort, we also aim to achieve food security in Mindanao by attaining sufficiency in major agricultural staples as while setting our sights in major international markets for our high-value export products,” Marañon said.

M a r a ñon’s g roup i s a reg iona l chapter of Phi lex por t, a pr ivate organization mandated to strengthen the country’s exports through promotion and development programs.

To d at e , Ph i le x p or t has over 4,000 members nationwide covering various

i n du s t r y s e c t or s f r om furniture, electronics to agricultural exports. It has 18 regional chapters, six of which are in Mindanao.

(PNA)

Expansion...

from page 1 a c c o m m o d a t i o n s ,” s a i d Lankester.

“Our focused business model of providing the quality basic essentials to travelers so that they are guaranteed a comfortable 5-star bed

and a great shower means that we can make our room rates as attractive as possible, consistently. By eliminating services that they do not need, we allow people to save more so they can stay in tune to what matters most when they travel,” he added.

The group has received almost 5 million guests since the opening of its first hotel in Downtown Kuala Lumpur in 2007. Tune Hotels also has an additional 11 hotels in Malaysia, five in the UK, four each in

11

Thailand and Indonesia, and one in India. The company is set to open another property in Japan and Australia this year while future projects are planned in the Middle East, Europe and Africa.

Tune Hotels is part of Tune Group, a lifestyle business conglomerate co-founded

by Tony Fer na ndes a nd Kamarudin Meranun, who are the Group CEO and Deputy Group CEO respectively of Asia’s largest low-cost carrier AirAsia.

A group picture of the Gama Foods maintenance staff, Jojo Catabona of Electroweld and Derrick Du of Derrick Du Trading.

Electroweld... from page 1

City Saturday.

In coordination with local distributors Derrick Du Trading and Metallite Bu i lders Development Company, Inc., Electroweld m a d e t h e i r pr o du c t s known by demonstrating to industrial users the proper application of their welding rods and how the inverter can save up to 60% of electricity consumption.

Derrick Du Trading is owned and managed

by Mr. Derrick Du and is the sole distributor of Electroweld ’s products in the entire Mindanao region.

Me t a l it e B u i l d e r s , on t he ot her ha nd, is a lead i ng cont rac t i ng bu s i n e s s i n C a g ay a n de Oro specializing in stainless steel design and fabrication, installation of industrial machineries, bulk storage tanks and pipings, water proofing, and sand blasting, epoxy and fiberglass lining and other technical services. It is managed by its President/ General Manager Arnel FG. Dumalaog.

Among the best known welding rods made by Electroweld are the Mild Steel Electroweld 6011, Mild Steel Electroweld 6 013/6 01 2 , a n d L o w Hydrogen High Tensile Electrocito 7018.

Electroweld 6011 is a gas shield type electrode; it can be worked on AC or DC reverse polarity. It has deep penetrations and a forceful spray Arc type; the slag is thin, friable and easy to remove. This is the best electrode to work on difficult positions, which

is particularly noticeable in high pressure piping, ship or tank welding. Due to its deep penetrating arc, it is also suitable for welding of galvanized steel plates.

A not her produc t is t he E le c t roweld 6 013, which is an all position rutile electrode developed especia lly for easy and efficient operation of vertical down welding. Although it is ready used in all positions, Electroweld 6013 is ideally recommended when most welds are in the vertical and down hill positions.

This electrode is used for all ty pes of light gauge mild steel fabrications.

Typical applications are shipbuilding, railway cars, pipes and ornamental work.

For welding of low alloy structural steel, extremely thick mild steel plates, pressure vessels, boilers and carbon steel, Electroweld has Low Hydrogen High Tensile Electrocito 7018. It is a graphite-coated electrode with ferro-nickel core wire.

It ex h ibit s h ig h crack resistance. Weld deposit is strong and ductile and welded area can resist well to high water or pressure.

During his actual demonstration, E le c t roweld ’s P ro duc t Analyst Jojo Catabona said their products are highlyefficient and economical with the use of a portable Sola r Inver ter weld ing machine.

Catabona explained the inverter transforms the welding machine from using the conventional alternating current (AC) power supply into a direct current (DC), thus cutting off electricity consumptions of industry users.

But Catabona assured

that while the Solar Inverter uses less electricit y, it performs at par, if not better, t ha n t he convent iona l welding machines.

It is also comparably smaller and very portable that it can be attached to a strap for the user to carry it around.

E l e c t r o w e l d Ma nu fac t u r i ng Corporation started its operation in the Philippines in a technical tie-up with one of the biggest welding electrode manufacturers in the world, Nippon Steel Welding. In 1979, Nippon Steel Welding of Japan supplied t he technica l knowhow, quality control systems as well as major portions of raw materials i n t he pro duc t ion of Electroweld products from wire rods to f luxes. It was through this endeavor that the company gained its reputation for producing high-quality welding rods and electrodes.

T he w ide r a nge of E le c t rowe ld pro du c t s i ncludes Rut i le a nd Cel lu losic t y pes of Mi ld Steel elec t rodes, Low Hydrogen welding electrodes, Hard Surfacing electrodes, Chamfering and Grooving electrodes, as well as electrodes for Stainless Steel and Cast Iron. “Electroweld” welding electrodes are certified by the American Bureau of Shipping. The company produces other brands such as “Gena rc” a nd “Quickweld ” which are popular in the market.

For interested buyers f r om M i n d a n a o , M r.

Derrick Du can be contacted t hrough t he numbers 09163634123 and/ or 09228634123.

BusinessDaily

12

CREDIBLE

RELIABLE

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

Billboard

IN-DEPTH

monday - July 22, 2013

The LOOP to rise in CDO’s central business district

V ista R esidences I nc . , t h e condominium development arm of Vista Land, the country’s largest homebuilder, is now building its first high-rise condominium property outside of Metro Manila – right in the heart of Cagayan de Oro’s central business district.

The Loop, strategically located within the bustling Lim Ket Kai Complex, will soon tower over the central business district of Cagayan de Oro. The new high-rise condominium is set to become an icon and one of the most valuable real estate developments in the city.

The landmark condo development will have two 25-storey buildings called the north and the south towers, efficiently connected by a walkway. Each tower will house 522 unique units, from studio to one-bedroom, two-bedroom, and three-bedroom units.

Floor area varies according to type of unit. Studio comes at 20.1 to 21.60 sq. m., one-bedroom units are at 29.55 to 38.03 sq. m., and two-bedroom units are at 50 to 59 sq. m. The Loop’s three-bedroom units at the Penthouse floor have ample space at 86 sq. m., while Garden Units at the 4th floor have spacious balcony with a floor area of 60 to 80 sq. m. Down payment for a unit at The Loop Down can start as low as P5,285 monthly.

The Loop’s masterplanned towers welcome unit owners and guests with an opulent and spacious lobby. Upscale amenity offerings on the ground level such as the adult and kiddie pools, fitness gym, multipurpose hall, and commercial spaces will be on hand.

The second and third levels will be the parking pods while the 4th floor will have garden residential units.

Residential condo units will continue from the 5th to the 24thlevel, with exclusive penthouse units at the 25th floor, and the “Canopy”at the topmost level. The towers’ East side will enjoy the mountainview while the West side will have the compelling view of the vibrant cityscape. Both towers will have 24-hour concierge services and advanced security system for residents’ convenience and peace of mind.

The Loop by Vista Residences allows the people of Cagayan and its neighboring cities to enjoy the modern comforts and conveniences of living, working, and doing business within the city’s central business, recreation and commercial district.

FERDIE BERNASOR President

PAU ELIO Director, Club Public Relations

The comfort comes from living within the luxurious condo units of The Loop with its world-class features and amenities. The units are carefully designed to allow homeowners to live comfortably and in style.

The convenience comes from living close to workplaces, schools and universities, supermarkets, retail and shopping, business centers and a whole range of amenities that make all daily living essentials within close reach. It is a few strides away from stores and shops at the Lim Ket Kai center and right across the transport hub, giving you access to neighboring towns and cities, near and far.

The Loop’s “walkability” factor is a definite plus to many -- especially to those who want to live sustainably. Living within walking distance entails less time and travel to go to desired locations, translating to less car use, saving fuel and money, and getting more time for family and other personal pursuits.

As the focal point of the city, the central business district has a high concentration of job opportunities, business and commercial activities, as well as cultural, recreational and social events. These make The Loop a bastion of the modern lifestyle in Cagayan, where live, work, and play can be easily achieved.

This most anticipated condominium development in the northern Mindanao region belongs to the prestigious portfolio of Vista Residences, a major player in the country’s multi-level, mixed-use property development industry.

To date, Vista Residences has 23 low- to high-rise condominiums in select prime locations in Metro Manila, Davao City -which hosts Vista Residences first mid-rise vertical residence outside of Mega Manila -- and now in Cagayan de Oro City, making it a top choice for condo homes that provide the best city living experience.

It entered the market in 2006 to offer Filipinos the convenience of condo living.

Combining the space planning savvy of the country’s top architects, an innate knack for selecting accessible and attractive locations to fit a wide range of needs, budgets and lifestyles, Vista Residences has set new standards for mid to high-rise living.

Vista Residences’ roster of elegant condo buildings include KL Mosaic, Salcedo Square, and Laureano Di Trevi (Makati), The Currency (Ortigas), The Symphony Towers, Wil Tower Mall, Vista Residences Katipunan,

ALVIN BENASA Vice President

DODIE LAGROSAS Director, Service Projects

BEN ELIO Secretary

ALEX PARAS Director, Rotary Foundation

Madison Place Pine Crest, Brescia Residences (Quezon City), 515 Shaw (Mandaluyong), Cerritos Residences (Pasig).

It also includes Marfori and Presidio (Sucat), Vista Residences Taft, 878 Espana, and Crown Towers U-Belt (Manila), Pacific Residences, Avant at the Fort, and The Hudson (Taguig), Northpoint (Davao), and now, The Loop in Cagayan de Oro. Vista Residences draws from 38 years of property development expertise of Vista Land

JULIUS DULFO Treasurer

JONG DUMLAO Sergeant at Arms

PAUL FERRER Director, Club Administration

MIKE MENDOZA PRO

which has created over 250,000 homes in 33 provinces and 65 cities and municipalities across the country. Catering to all income segments, Vista Land has been building homes where families can live a better quality of life.

More information on The Loop is available at 0917-8102445 and Communities Cagayan Inc., 2nd Floor Pelaez Arcade, RN Abejuela corner JP Rizal St., Cagayan de Oro City, and athttp://www.vistaresidences.com.ph/.

HENRY CAY-AS Director, Membership

MAR PAANO Immediate Past President

LUIGI SARRAGA President-Elect