BusinessDaily (November 10-16, 2013)

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Volume III, No. 292

Market Indicators

As of 5:59 pm sept. 4, 2013 (Wednesday)

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5 cents

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115.58 points

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Briefly Coco farmers POTENTIAL coconut based agrarian reform communities (ARCs) will soon benefit from the Kaanib Enterprise Development Project (KEDP), an integrated resource-service convergence approach which seeks on increasing farm productivity and income of small coconut farming communities.

The Department of Agrarian Reform in Region 10 (DAR-10) and the Philippine Coconut Authority (PCA) initiated a joint consultative meeting recently with the coconutbased agrarian reform beneficiary organizations (ARBOs) to identify and prioritize potential areas for coconut plantation as well as other existing plantations to develop within its ARCs. S i m i l a r l y, t h e A g r a r i a n Reform Community Connectivity and Economic Support Services (ARCCESS) will also provide strategic and sustainable support services to the beneficiaries.

Invention fair THE Department of Science and Technology (DOST-XI) has invited interested professionals and students with research projects and inventions to join in the 2013 Regional Invention Contest and Exhibit (RICE 2013) slated on November 19-21, 2013 at SM City Davao.

In DOST-XI’s emailed invitation, the agency called on professionals and students in groups or individuals to bring their entries on research projects, inventions, prototypes, industrial designs and software applications related to science, technology, engineering, medicine, health and the environment.

The deadline for the submission of entries is on November 13, 2013.

T h e D O S T-Te c h n o l o g y Application and Promotion Institute (TAPI) is in cooperation with the Davao Inventors Association (DIA) and the Davao Region Industry, Energy and Emerging Technologies Research and Development Consortium (DRIEERDC) in the holding of the RICE 2013 at the SM City Davao Events Center, SM Annex, Ecoland, this city.

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Masons consecrate, dedicate new lodge temple in C. de Oro

By Cheng Ordonez BWM Editor

M

W Juanito G. Espino Jr., g ra nd master of the Free and Accepted Masons of the Philippines, has challenged his brethren in Northern Mindanao to emulate t he achievements of t he Mac aja la r Lodge No. 184 in successfully erecting its own edifice in Carmen, Cagayan de Oro City, during the interfaith blessing of the building and t he consecr at ion and dedication of the Macajalar Lodge Temple, Tuesday, Nov. 5, 2013.

Masons/PAGE 7

MW Juanito G. Espino Jr., grand master of the Free and Accepted Masons of the Philippines, assisted by MW Peter U. Lim Lo Suy, PGM, and other Most Worshipful brethrens, during the ribbon-cutting and interfaith blessing, Tuesday, Nov. 5, 2013, of the newly completed edifice of the Macajalar Lodge 184 situated in Carmen,Cagayan de Oro City. photo by irene dayo

OFWs market offers huge Mindanao’s One Network Bank expands in Western Visayas business opportunity Entrepreneurs are encouraged to tap the huge overseas Filipino workers (OFWs) market to bolster their revenues.

“You go to any country, you will find Filipinos.

T h e Fi l ipi no m a r k e t has already spilled over globally... Wherever there are Filipinos, they are your consumers,” said Jose Luis Liongson, a marketing professor at De La Salle

University, in a seminar.

Liongson cited some loc a l compa n ies w it h majorit y of their sales c om i n g f r om a br o a d because they ser ve the OFWs market.

To effectively penetrate such market segment, he said companies should develop new products for new markets “so you are very, very diversified.” market/PAGE 7

DAVAO C I T Y - - O n e Network Bank, a Consunjiled rural bank based here, is preparing to build its presence in Western Visayas by establishing three new branches and renovating six more in Panay Island.

These are outside of the six branches it acquired through a merger with an Iloilo City-based rural bank early this year.

The new branches, the

bank said in a statement, will be located in Pototan and Barotac Nuevo, both in Iloilo, and in San Jose de Buenavista in Antique.

One Network Bank is also renovating the six branches it acquired through its merger with Rural Bank of San Enrique, based in Iloilo.

In an earlier interview, One Network Bank President Alex V. Buenaventura said t he t hree new branches

comprise the first batch out of the 10 the bank plans to set up over the next two years.

Two more will be located in Panay while the rest of the new branches will be in Mindanao.

He said about P7 million would be invested with every new branch and that the bank generally owns the land where the buildings are located.

Expands/PAGE 7

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Tourism gab seeks to drive local investments

COTABATO City -- In efforts to strengthen the tourism industry of South Cotabato, the South Mindanao Tourism Investment C onference (Tourism iCon) highlights the strong partnership between the local government and private sector in their bid to draw in more tourism-related

investments in the province.

Tourism iCon, slated last October 24-26 at The Farm, Koronadal City, is expected to gather key foreign and local investors, as well as government players and development partners to further explore investment opportunities in the southern

Mindanao region.

“This is an excellent opportunity for us to showcase our tourism potentials to the participating investors,” said Department of Tourism-XII (DOT) Regional Director Nelly Nita Dillera.

She added that the event would also provide a venue for the forging of strategic alliances in the form of jointventure arrangements and cooperation agreements among the country’s key tourism industry stakeholders.

“We can also utilize this activity in showcasing the facilitation mechanisms, which we have put in place designed to fast-track tourism investments in this part of the country,” said Dillera.

Convened by the Mindanao Business Council (MinBC), and co-organized by the Allah Valley Landscape D e v e l o pm e nt A l l i a n c e

(AVLDA), the conference will also highlight the investment and tourism potentials of the Allah Valley areas.

The event will feature four thematic areas, which include eco-tourism, local tourism competitiveness enhancement, transportation and communication, and tourism facilities and services.

A presentation of the priority tourism projects identified by DOT XII, which includes the development of renewable energy sources and the upgrading of the tourism facilities is among the conference highlights.

Dillera pointed out the need to develop the necessary infrastructure in order to enhance accessibility of tourism destinations in the provinces.

“Through this conference, we intend to generate more project ideas aimed at hitting

our end-goal of improving trade, investments, and tourism activities in the region,” she said.

During the 2nd Region 12 Tourism Summit held in General Santos City last month, the Mindanao Development Authority (MinDA) announced that several infrastructure projects are being pushed to support the development of Southern Mindanao’s tourism industry.

These projects include the cementing of circumferential road leading to Seven Falls in Lake Sebu, South Cotabato; the development of the Asik Asik Falls and New Israel Ecotourism Park in Alamada, Kidapawan City Cotabato; and the Construction of Tourism Information Center in Brgy. Poblacion, T’boli, South Cotabato.

“We understand that one of the easiest ways to attract

more investors to our tourism sites, and to Mindanao in general is to assure them that we have sufficient infrastructure to support their future investments here,” said MinDA Chair Luwalhati Antonino.

She a d d e d t hat t he Tourism iCon showcases among business players and international development partners the readiness of South Cotabato to embrace tourism-related investments and projects.

“Our main goal here is to make these infrastructure proj e c t s a s a d d it i on a l attraction to our potential tourists,” said Antonino while adding “in order to lure more tourists to Mindanao, it entails massive promotion efforts, a direction that we can efficiently pursue in partnership with the private sector.”

Party list solons bat for condonation of unpaid interests, penalties on farmers’ loans MANILA -- Two lawmakers are pushing for relief or condonation on the payment of interests that burdens farmers, especially those that suffered production losses caused by typhoons, resulting to default on their loan payments.

COOP-NATCCO party list Representatives Cresente Paez and Anthony Bravo filed House Bill 280, which

provides for the condonation of unpaid interests, penalties and surcharges on loans secured by farmers, fisherfolk and agrarian reform beneficiaries.

Paez said the condonation should be on loans from the Department of Agrarian Reform (DAR), t he People’s Credit and Finance Corporation (PCFC), the Cooperative

Development Aut horit y (CDA), the National Food Authority (NFA) and the Quedan and Rural Credit Gua ra ntee Cor porat ion (QUEDANCOR).

Under the bill, the basis for the payment relief shall be limited to force majeure or market aberration and shall, in no case, be applied for the willful default of the borrower to pay such loans.

The measure f ur t her provides that the accumulated payments of not less than five percent of the loan principal shall have been paid at the t i me of appl icat ion for condonation.

And to encourage borrowing discipline and enhance credit worthiness, t he bi l l requires t hat a graduation process shall loans/PAGE 7

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BSP – MisOr to hold 1st CEB Advisory Invitational Jamborette

3

As of November 9, 2013, 1:00pm

The Civil Aviation Authority of the Philippines (CAAP) has closed several airports in the aftermath of Typhoon Yolanda (Haiyan).

MISAMIS ORIENTAL – In order to revitalize the Scouting Movement in the entire country, the Boy Scout of the Philippines – Misamis Oriental Council will hold the 1st “Happy Mis. Or.” Invitational Jamborette Skills-O-Rama and Kawan Holiday this coming December 5-8, 2013 at Naawan, Misamis Oriental.

It c a n b e r e c a l l e d t h at Governor Bambi Emano’s Misamis Oriental promotional branding is “Explore Mis. Or.” and Vice Governor Joey Pelaez’ branding is “a Happy Mis. Or.” Thus, the theme is anchored on those branding which is “Explore a Happy Mis. Or. through Scouting.” This is a testament that the Provincial Government, specifically the Governor and the Vice Governor, is giving its all-out support to the Scouting Movement here in our Province.

T he Jamb ore tte ai ms to provide meaningful activities for the scouts such as, but not limited to knot tying, bandaging and other basic survival activities. It also provides an avenue of showing their knowledge and skills in scouting and enabling them to become a wellrounded individual, self-reliant and

productive citizens of the country. Because of these airport closures, the following flights will be cancelled: It also inculcates values, patriotism, love of countr y, environmental protection, camaraderie and participation in outdoor-based nonformal education.

Qualified participants are KID Scouts (4-6 years old), KAB Scouts (7-9 years old), Boy Scouts (10-12 years old), Senior Scouts (1317 years old) and Rover Scouts (17 years old and above) who are: 1.

Currently registered to the Boy Scouts of the Philippines; 2.

Physically fit; 3.

Have good leadership potential; 4.

Have camping gears and equipment; and 5.

Have parents permit.

Vice Governor Joey G. Pelaez, the Chairman of the BSP – Misamis Oriental Council expects more than 3000 participants within the province and from other neighboring provinces who are invited to the said event. He hopes that the Jamborette will create a spark and would be a good start to really awaken and revitalize the Scouting Movement here in Misamis Oriental and the Philippines in general.

Local School Board Executive Meeting on November 6, 2013 at the Sangguniang Panlalawigan Session Hall presided over by Vice Governor Joey Pelaez. The main agenda was to discuss and recommend programs and projects under the Special Education Fund to be covered in Annual Budget for CY 2014.

Guests affected by these cancellations may rebook their flights for travel within 30 days, free of charge. They may also reroute to the nearest alternate airport, or opt for full refund or full travel fund.

Please note that Cebu Pacific passengers with domestic and international flights from November 7 to 15, 2013 to or from the Visayas region, Bicol region, Palawan, Mindoro and select Mindanao destinations have the same option to rebook or reroute their flights, or get full refund or travel fund, even if their flights have not yet been cancelled.

Passengers may call (02)7020-888 or (032)230-8888 for their preferred option, any time even after their flights.

For the list of additional cancelled flights because of Typhoon Yolanda (Haiyan), please visit www.cebupacificair.com/pages/PressReleases.aspx?pid=903. Those who wish to check the status of their flights may go to www.cebupacificair. com/Pages/CheckFlightStatus.aspx New People’s Army rebel returnees hand over their firearms to Northern Mindanao police director Chief Supt. Catalino Rodriguez Jr., Misamis Oriental Governor Yevgeny Vincente Emano and DILG-10 director Rene Burdeos during turnover ceremonies held at the headquarters of the 4th Infantry Division. mindanao daily news photo by gerry lee gorit

Cebu Pacific will continue to provide updates as soon as they are available.

Follow @CebuPacificAir on Twitter or Cebu Pacific Air’s official Facebook page.

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N ews 4 Secura International signs joint venture deals in B’non CREDIBLE

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MALAYBALAY City––A bioenergy company, Secura International Corporation (SIC), signed a joint venture agreement with its local business par tners (LBP) To g e t h e r w i t h t r i b a l leaders in bukidnon, for the production of biodiesel from Napier grass and other biomass.

Engr. Danilo P. Manayaga c h ie f e xe c ut i ve of f ic er of Secu ra i nter nat iona l corporation said that each cooperative has to gather landowners w it h a tota l of 2 ,0 0 0 hec ta res to be able to produce enough materials for the company to build a processing plant that converts biomass into biodiesel.

Biodiesel is “chemically

id ent ic a l to p e t role u m diesel,” “directly replaces p e t roleu m d ie s el,” a nd “carbon neutra l if made f rom biom a s s .” T he compa ny a lso produces biocoal.

The joint ventures eye to open plantations in “idle” lands, which are mostly owned by the indigenous peoples.

Da n i lo Pl a z os , E c o green integrated resources incorporated (EIRI) Corporate treasurer, said their foreign investors are f lowing in US$35 million to put up a plant in every 2,0 0 0-hectare area. The firm will pay P36,000 per hectare per year, or P3,000 a month, to landowners.

Pla zos sa id a tota l

of 21 cooperat ives a re registered with Cooperative Development Aut hor it y (CDA), a share of 30-60-10.

He said 30 percent goes to the cooperative, 60 percent to their company, and 10 percent to the local business partner of SIC. He expressed hope that the project will be done in “mutual cooperation” and will adhere to transparency so it won’t suffer the fate of earlier projects offered to the Lumad.

He a lso cha l lenged the Lumad to mind their development perspective since the project is a joint venture.

“We utilize the latest bioprocess technolog ies such as chromatography,

l y o p h i l i z a t i o n (f r e e z e drying), ultrafiltration and dehydration technologies to produce standardized extracts and pharmaceutical

ac t ive i ng red ients,” t he company added. they have a network of contract growers a nd ow n commercia l plantations.

In the early 2000s, when Nokia reigned supreme in the global mobile phone market and contributed four percent to Finland’s gross domestic product, the job security offered by the company had no match.

“When you were a Finnish engineer starting at Nokia, you knew you would leave nokia/PAGE 7

MANILA -- The government might start aff ixing ta x stamps on cigarettes by April next year to ensure tax compliance among tobacco companies.

Interna l Revenue Commissioner Kim Henares disclosed this during a recent hearing conducted by the House Committee on Ways and Means chaired by Rep. Romero “Miro” Quimbo (2nd District, Marikina City) on the revenue targets and performance outputs of the BIR and the Bureau of Customs (BOC).

Asked by Rep. Rufus Rodriguez (2nd District, Cagayan de Oro City) on what else the BIR is doing to ensure that the right excise taxes are being collected by the government following the enactment of the Sin Tax

Reform Law, Henares said the BIR would implement the use of secured tax stamps for cigarettes.

“Actua l ly one of t he measures to protect the revenue is the stamp or label that is going to be placed on the cigarette packs. Hopefully

by April next year we would have implementation of the label on the cigarette,” said Henares.

She said the bidding for the tax stamp has already been completed and the BIR is now evaluating the bidder to determine whether it is qualified.

In a memora ndu m circular issued earlier this year, the BIR identified 26 major projects that will help the agency sustain a positive collection growth.

Included in these projects is

DepEd addresses classroom backlog

By Aerol John Pateña of PNA

From left, Lanao del Norte Coop rep. Datu Haron, South Mindanao Area Manager Corazon G. Umal, Secura International Corp. Pres. & CEO Engr. Danilo P. Manayaga.

Damulog Bukidnon Mayor Romeo Tiongco. Standing Eco Green Integrated Resources Inc. Corporate Treas. Danilo C. Plazos, Bukidnon Tribal rep. Datu Teofisto D. Carejo, South Mindanao Operation Manager Fritz Alayon.

THE Department of Education is addressing the backlog in classroom and other school facilities by partnering with the private sector in constructing school buildings under the Public-Private Partnership for School Infrastructure Project (PSIP).

PSIP involves the design, construction, maintenance and financing of 9,300 classrooms in one- and twostorey buildings in various sites in Regions I, III, and IV-A costing P16.28 billion.

As of Oct. 30, at least 159 buildings and 538 classro oms have b e en backlog/PAGE 7

Finnish engineers discover BIR to start affixing tax stamps there is life after Nokia on cigarettes by April next year

TAMPERE - The decline of Finnish mobile phone manufacturer Nok ia has encouraged a whole generation of local engineers to venture on a new and risk ier pat h: t hat of entrepreneurship.

Housed on the top floor of a building located on the main avenue of the southern city of Tampere, the office of local start-up TreLab exudes ambition and optimism.

“We just sent our first five-figure invoices. It feels good!” 44-year-old chief executive Kimmo Saarela said.

T his former Nok ia employee joined fou r col leag ues to create i n December 2011 a start-up specia lizing in w ireless measurement devices which can be used in sectors such

as health care, logistics, and personal wellness and training.

“Even if I sometimes miss the comfort of a regular salary and the job security provided by Nokia, I feel freer here. One can make decisions quickly, without goi n g t h rou g h a l l t he bureaucracy of a big firm,” he said.

the implementation of the internal integrated system on the use of secured stamps for cigarettes to ensure tax compliance among tobacco manufacturers.

T he BI R w i l l t ap a gove r n me nt- a c c re d it e d printer to bid out the printing of the cigarette stamp, the BIR said.

In December 2010 during a hearing conducted by the Committee on Ways and Means then chaired by former Batangas Rep. Hermilando Mandanas, BIR Assistant commissioner James Roldan said the BIR decided to junk the unsolicited proposal of the Switzerland-based SICPA company and opted to instead adopt a system through public bidding.

Roldan told the committee bir/PAGE 7

Typhoon ‘Yolanda’ now outside of PHL

By Christopher Lloyd T. Caliwan, pna

Congressman Rufus B. Rodriguez expresses his support for the ongoing peace talks between the Government of the Republic of the Philippines and the MILF during a recent briefing conducted by the Office of the Presidential Adviser on the Peace Process headed by Secretary Teresita Quintos-Deles. Rep. Rodriguez values the importance of peace in the Mindanao region and sees how it can improve the lives of the people of Mindanao.

MANILA -- Typhoon “Yolanda” (international code name: Haiyan), the strongest tropical cyclone to hit the country, is now outside the Philippine Area of Responsibility (PAR), the state weather bureau said Saturday afternoon.

In its 3:30 p.m. update, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said “Yolanda” was located at 722 kilometers west of San Jose, Occidental Mindoro (13.6°N, 114.5°E), packing maximum sustained winds of 185 kilometers per hour near the center and gustiness of up to 220 kph.

Weathermen said it is forecast to move west-northwest at 35 kph on its way to Vietnam.

PAGASA said that with this development, all public storm warning signals are now lowered. However, sea travel is risky over the seaboards of Luzon as well as over the eastern and western seaboards of the Visayas.

The agency also issued a final weather bulletin on the weather disturbance.

Weather forecaster Joey Figuracion said that typhoon “Yolanda” is heading for Vietnam.

He added that since the cyclone is now outside the PAR, gradual weather improvement is expected in most parts of the country starting Sunday. (PNA)

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Feature 5 Normin’s top schools to square off in 9th Steag Energy Quiz CREDIBLE

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ome fifty (50) private and public high schools in Northern Mindanao will compete in the 9th Steag Energy Quiz on 22 November 2013 at the Limketkai Activity Center, this city.

Organized and presented by energy firm STEAG State Power Inc. (SPI), the annual activity is considered as one of the most awaited high school competitions in the region where knowledge and understanding of high school students about the science of energy will be put to a competitive test.

Over the years, Steag has

organized the event to promote among high school students a special interest in energy, at the same time inspire them to achieve academic excellence in science and technology.

Each participating high school will be represented by a team of three senior students selected by their respective school administrators.

During the contest, a total of 21 questions about facts, laws and current events pertaining to electricity, energy and other subjects relating to natural and physical sciences, chemistry and physics will be asked. Each question has

corresponding points, and the team that accumulates the most number of points will be declared as winner.

Aside from medals and trophies, twenty-four thousand pesos (PhP 24,000) worth of cash prizes will be given away to the best three schools.

The Steag energy quiz champions since 2005 include Lumbia National High School, Xavier University High School, St. Mary’s School, Bayanga National High School, Regional Science High School, Rosevale High School, and the Mindanao State University - Iligan Institute of Technology.

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They’ll Feast at Your Funeral THINK

Think a minute…When you dec ide to do somet h i ng , A Minute whose opinion do you think

By Jhan Tiafau Hurst and care about t he most?

Do you simply do what you k now is rig ht, or do y ou f i r s t c on s i d e r w h a t ot her people might t hink about you?

What will your neighbors or people you work w it h t hink?

Your family and friends?

Do you realize that when you d ie, except for you r closest family and friends, most people will not even be sad enough at your funera l to lose t heir appetite!

Those same people whom you now tr y so hard to impress and please are going to feast at your funeral.

Yet, we of ten neglect and hur t our ow n w ife and children, t he people who tru ly love us, because we tr y so hard to please and impress ot hers.

But t he greatest tragedy of a ll is t hat we seem to care t he least about what God t hinks of us.

We a lmost seem to have no shame or fear of God and His opinion of us.

Even t hough at t he end of our life, it’s only what our Ma ker t hinks of us and whet her we have tru ly lived His way that will decide where and how we live forever: in heaven or hell.

God t he Son even became a human being named Jesus Christ to die for all our wrongs and then come back to life, just so we cou ld k now how much our Creator loves us.

Jesus cares more about you t ha n a nyone does!

Especia l ly t hose people you a nd I t r y so ha rd to please—t hose people who w ill feast at our f unera l.

So if we’re smar t, we w ill stop liv ing to please ot her people and star t liv ing Jesus Christ’s way to please Him. Always remember, at the end of your life it is only what Jesus your Judge will think of you that can save you.

Just Think a Minute…

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D

All About The Money

uring the Yuletide season, the Philippine Peso becomes more popular than ever. There is great demand for cash as consumers purchase goods and services for their Christmas celebrations.

Not only that, many Filipinos also give away cash as gifts. Inserted in red Chinese envelopes, money – in the form of new crisp bills – can easily send delight to children asking for aginaldo.

We are so used to using money that we seldom think how it got to our hand or wallets. For educational purposes, let me guide you through the process.

The task of making sure there is an adequate supply of money in the market to meet the needs of the public is with the Bangko Sentral ng Pilipinas (BSP).

As the government office constitutionally mandated to issue our national currency, it is also the job of the BSP to make sure there is neither too much nor too little currency in circulation, for both can cause monetary and price instability.

Not all central banks in the world produce their own notes and coins but the BSP does. Through its Banknotes and Securities Printing Department (BSPD) and Mint and Refinery Operations Department (MROD), both operating at the BSP Security Plant Complex in Quezon City, the BSP produces and issues most of the notes and coins that you see today.

To meet heavy demands for currency, the BSP also outsources some of its requirements to a select group of qualified international suppliers.

The BSP does not produce or issue currency at whim.

Since notes and coins carry value and are considered legal tender for all private and public debts, the amount of currency released to the market should not exceed the assets of the BSP. The task of ordering the amount of currency needed in the market up to its issuance and retirement falls on the shoulders of the BSP Currency Management Sub Sector (CMSS), currently headed by its managing director Iluminada T. Sicat.

The CMSS is made up of two departments: the Cash Department (CD) and the Currency Issue and Retirement Office (CIRO). The CIRO takes custody of new currency notes and coins and issues them to the Cash Department, which in turn supplies the currency requirements of banks in Metro Manila, and to the Regional Monetary Affairs Sub Sector (RMASS), which supplies the currency requirements outside Metro Manila through BSP’s three regional offices and 18 branches.

The CD and RMASS also withdraw from circulation old or unfit notes and coins to be turned over to the CIRO for destruction.

The currency management cycle begins with forecasting the amount of currency needed for circulation. The

S

B S P ’s D e p a r t m e nt f o r Economic Research makes O ut use of economic indicators

By Ignacio Bunye such as the Gross Domestic Product and Inflation Rate in projecting the multi-year currency requirement of the economy.

The findings are then passed on to the Office of the Managing Director of CMSS, which will forecast requirements, broken down into various currency denominations. After production, the new notes and coins are prepared for issue and distribution to banks all over the nation. The banks then release money to the public through withdrawals and loans.

The money you have at hand now was probably produced within the last three to five years. High denomination notes have an average life of 2.5 years while lower denomination notes because of frequent usage sometimes last a year.

Naturally, coins last longer and can stay in circulation up to ten years.

Some notes and coins, however, become unfit or mutilated way before their “retirement” date. These can be brought to the banks or to BSP’s Cash Department for redemption.

Notes deemed unfit are shredded, while coins are melted.

Apart from seeing the currency through its issuance and retirement, it is also the job of the CMASS to promote the preservation of the integrity of our currency.

The Cash Department coordinates with law enforcement agencies such as the National Bureau of Investigation and the Philippine National Police to arrest counterfeiters who use or sell fake money. BSP gives rewards to informers who help in the apprehension and prosecution of counterfeiters.

Apart from these are other advocacies that aim to protect our currency. There is the Clean Note Policy that requires banks to sort clean/fit and dirty/unfit currency when making deposits to BSP. There is also the coin recirculation program called “Barya Para sa Eskuwela” which aims to flush out idle coins and promote their active use by the public.

Now that you know the process by which money is produced and distributed, you might perhaps better appreciate it as you continue with your holiday spending.

Let us not forget however, that Christmas is never all about the money. More than anything else it’s about love, giving, and faith.

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

SPEAKING

How to React to Sin and Evil

in and evil are all around us. They are also in us, of course. They come in different ways, sizes, shapes, degrees.

Some are big, conspicuous and scandalous. Others may be small, hidden, but in a certain sense also very dangerous.

All sins are personal, but some have evolved to become structures in society and in our culture.

We have to learn to cope with this reality that is unavoidable, given our weakened and wounded human condition. Our attitude should be that in spite of the ugliness of sin and evil, we should still remain calm and happy, convinced that everything has meaning and purpose.

The basis for this attitude is Christ who took on all our sinfulness by dying on the cross and resurrecting on the third day. It’s this passion, death and resurrection of his that has removed the sting of sin and evil and has converted them into our very own way of purification and salvation.

In other words, not everything is lost in sin and evil.

There’s always hope, a way of deriving some good from them. And the secret is precisely in our effort to identify ourselves more and more with Christ, especially under the aspect of his attitude toward sin and evil.

And what is that attitude of his? It’s an attitude of continuing love, a love that conquers all, willing to forgive, and even to assume the sinfulness of men and its consequences without, of course, committing sin, suffering them to death and rising from that state in all divine glory.

Christ is the second person of the Blessed Trinity, the Son of the God, God himself who became man to be with us, to re-create and refashion us into his image and likeness, offering us a way of how we can recover our true dignity as children of God whenever we happen to lose or harm it because of our sin.

It’s in this sense that Christ identifies himself with all of us as sinners. On our part, we have to learn how to discern the face of Christ in everyone of us as a sinner.

Yes, we have to hate sin but continue to love the sinner.

We have to love the sinner the way Christ loves each one of us as a sinner.

This distinction is crucial because very often we put the and Traces sin and the sinner together

By Fr. Roy Cimagala and condemn them jointly.

It’s like throwing the baby out with the bath water. While in life, there is always hope, and we have to do everything to help the sinner get rid of his sin.

In this concern, we have to learn to go all the way, as in, all the way to die on the cross like Christ. Remember him saying, “If you want to follow me, you have to deny yourself, carry the cross and follow me.” We have to engrave these words in our consciousness. There’s no other effective formula for this purpose.

We have to convince ourselves that it is on the cross of Christ where the sinner can finally get rid of his sin.

Christ’s cross is where sin is killed and converted into a way for a new life with God. And so, we have to learn to love the cross, to long for it the way Christ himself longed, embraced and loved it.

This loving the cross can start by thinking always of the others, praying for them, offering generous sacrifices for them, and figuring out how we can help them directly.

We can find ways of how to give them advice, reminders, suggestions, even corrections.

We have to give good example, since the consistent testimony of our life convinces others far better than our words. And so, we have to wage a continuing, life-long ascetical struggle to grow in the virtues, to fight against our weaknesses and temptations, to avoid sin, and generally to increase our love for God and others in a practical way.

If we succeed to acquire the skill and master the art of discerning the face of Christ in every sinner, ourselves cimagala/PAGE 7

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Masons... from page 1

Espino f lew to Cagayan de Oro City to grace the twin affair of the Macajalar Lodge No. 184 of the Free and Accepted Masons of the Philippines, “a fraternity promoting good men and good work s si nce t i me immemorial.”

“Our temples are dedicated for Free Masonry,” Espinso told his brethren during the consecration and dedication rituals.

He reminded the m to be mindful of the symbolisms embedded in the temple rituals of Free masonr y, saying, the symbols are with great significance while the procession reminds them of the pilgrimage people take in life.

Freemasonr y def ines itself as a regular system of morality, veiled in a l legor y a nd i l lustrated by symbols. In particular, m a s on i c m e e t i n g s a r e characterized by initiations and rituals.

Espi no ex tended h is warm congratulations to the members of Macajalar L o d g e 14 8 fo r h a v i n g achieved its own temple in its jurisdiction.

“Make it your house, but make the house a home,” Espino said. “And make this home, this temple, as an instrument to make better men in the society,” he added.

Wit h E spi no i n t he hierarchy during the rituals are past GMs MW Pablo Kho, MW Romeo Yu and MW Peter Lim Lo Suy. Members of t he Free and Accepted Masons are orga n i z e d i nto lo d ge s , the basic organizational structure, which operates under the jurisdiction of a grand lodge.

The Macajalar structure, which houses Lodge’s 148 Temple, is not on ly a n ornament to the City of Cagayan de Oro, but an indication that Masonry in this region is “alive and kicking,” said Espino.

In accepting the completion of the edifice and its subsequent consecration and dedication to the “virtue and benevolence and belief in God Almighty,” Espinso said: “We are pleased to comply with the desire of our brethren (in Lodge 148) to accept it heartily” coupled with an appreciation of the enterprising spirit of the members in establishing the edifice in accordance with the teachings and ancient masonic forms.

Espino said he is proud for the Mindanaoan-Masons for their achievements and hope that he was among them.

Market... from page 1

“Global marketing simply means you are customizing based on local needs and customs of a country that you are going to market (your product). Don’t mass market (to your target market),” he advised.

Liongson said firms need

to study their target markets, their purchasing power and capacity.

He added that niche marketing is a lso imperative for competitive differentiation.

“If you wa nt to beat your competition, it is not necessarily being cheaper, bigger and better. It is being different,” he stressed.

Moreover, Liongson said business owners can market their products online.

“Their (buying) platforms are the internet, the worldwide web; they use social networks,” he further said. -- Danielle Venz, PHILEXPORT News and Features

Expands... from page 1

The entry of One Network Bank into the Panay market, Mr. Buenaventura said, will allow customers to experience the services only commercial banks provide, like checkclearing and remittance operations. The bank’s 142 automated teller machines are linked under Bancnet, which has about 40 bank members.

This developed as One Network Bank -- the country’s largest rural bank -- announced it recorded a net income after tax of P575 million as of the third quarter, breaching its fullyear profits of P478 million in 2012.

The bank attributed its performance to aggressive ex pa nsion, “ma k i ng its affordable deposit and loan products available to more unserved and underserved sectors,” it said on Monday.

One Network Bank has about 680,000 depositors in its 97 branches nationwide.

Its deposits ballooned to P17 billion as of September, 22% higher than the year-ago level.

Loans... from page 2

be followed in consonance with the plan of payment, such that a borrower shall only be granted a one-time condonation.

It a lso prov ides t hat the condonation of unpaid interests, pena lt ies a nd su rc h a rge s f rom lo a n s acquired through conduit banks and f inancia l inst itut ions sha l l be in conformit y w it h t he applicable general banking laws and regulations of the Bangko Sentral ng Pilipinas (BSP).

Del i nquent fa r mers , fisherfolk or agrarian reform beneficiaries that secured agricultural and agrarian reform credit through the Credit Assistance Program – Program Beneficiaries Development of the DAR; t he Re s e t t lement L oa n A s si st a nc e Prog r a m of the DAR and Cooperative Development Loan Fund of the CDA, among others, may apply for condonation of unpaid interests, penalties and surcharges with the concerned agenc y or corporation.

Bravo said farmers and

agrarian reform beneficiaries are not only entrepreneurs in bucolic areas but are also partners in the evolution of a better and brighter country.

“It is therefore imperative upon us to take an overwhelming care and attention by condoning these interests that burdened the debt,” Bravo said. (PNA/ Sammy F. Martin)

Backlog... from page 4

completed under the PPP for school infrastructure project, according to the Physical Facilities and Schools Engineering Division of the DepEd. Altogether, 931 buildings and 3,046 classrooms are currently being constructed and Notices to Proceed (NTP) have been issued for 5,674 classrooms.

In an interview with t he Ph i l ippi ne s Ne w s Agency, Engr. Antonia Alhambra, head of the Public Management Unit of the DepEd, said that independent consultancy f i r m M o h r i a n d PA Associates Inc. conducts regular inspection of the school buildings to ensure their structural integrity.

“The IC (independent consultancy firm) consists of engineers, architects, structural project managers, among others. Critical phases of the project are being monitored to ensure that concerns such as variations in building design and lack of building spaces are addressed,” Alhambra said.

She a ls o e x pl ai ne d the process of the implementation of subprojects under PSIP. During the preconstruction stage, detailed engineering designs of the project proponent are submitted to the IC and are reviewed to determine if they are compliant to minimum performance standard specifications (MPSS) and site adaptation.

Based on the certified detailed engineering designs, DepEd issues NTP to the proponent to start with the construction.

For the construction phase, IC conducts site inspection and monitoring to ensure compliance to MPSS and approved DEDs, and submits progress report to the DepEd. On the other hand, DepEd conducts random inspection and validation of reports submitted by the IC. A Construction C omplet ion Not ice is issued once a subproject is completed. IC submits a list of rectifications to a DepEd engineer who participates in the site inspection together with the proponent.

Notice of Completion of Rectification works are issued once these are accomplished. Verification and inspection of the completed rectification are participated in by the DepEd, IC and the proponent.

DepEd then issues a

certificate of completion to the proponent.

Around 500 classrooms were turned over recently to the DepEd in a ceremony held at the San Jose Del Monte National Trade School in San Jose Del Monte City, Bulacan.

During the event, Education Secretary Armin Luistro said the partial turnover of completed classrooms is part of the continuing effort to steadily close the gap of the 66,800 classroom backlog.

“With the help of the private sector, we are confident that we can deliver our commitment to public school students,” the DepEd chief said.

He noted that this is the first successful publicprivate partnership project in the country.

PSIP enables the government to fast-track the construction and delivery of classrooms within the fiscal ceiling and improve and introduce innovations in the design, methods, and materials for classroom construction.

The contracts were awarded to Megawide Construction Corporation for Regions 3 and 4A and BF Construction Corporation for Region 1 through a BuildLease-Transfer Agreement.

Under the contract between DepEd and PSIP phase 1 project proponents Citicore-Megawide and BF Construction Corporation, both proponents have 16 months to complete the construction and delivery of school facilities.

During the duration of the 10-year lease contract, the project proponents will take care of the maintenance requirements of the school which will be conducted every four-and-a-half years or 54 months.

Nokia... from page 4

Nokia only when retiring.

Your f uture was clea r,” recalls Tommi Uhari, who left his management position to found Uros, a mobile wireless Internet provider for international travelers.

Everything changed when the financial crisis hit and Nokia fell behind in the smartphone race after Apple launched its first iPhone in 2007.

Trapped in a failure spiral, Nokia started to lay off whitecollar staff and ended up agreeing in September to sell its mobile phone division to US giant Microsoft for 5.44 billion euro ($7.5 billion) in a move considered by local media as “the end of an era for Finland.”

When it began to need to downsize a few years back, the firm launched an uncommon initiative named the Nokia Bridge program, through which it helped its former employees to create their own companies.

TreLab, t he Ta mpere start-up, benefited from the program, which allowed former employees to leave the company with up to 20,000

euros ($27,573) each.

Some eng i neers, t he founders of TreLab among them, even got the right to use certain technologies they had developed at Nokia without having to buy any expensive patents.

“Without this support, we probably wouldn’t have been able to create our company,” Saarela said.

‘People are ready to take risks ... do what really excites them’ According to Nokia, more than 1,000 start-ups had access to the Nokia Bridge program, 400 of them in Finland.

The most famous one is Jolla, which has taken over Meego, a free mobile operating system abandoned

by Nokia. The company is expected to launch its first mobile phone by the end of the year.

The start-up model does not suit everybody, though.

“Sure, there are a lot of engineers coming out of Nokia, with a long and br i l l ia nt c a reer beh i nd them. But very few know how to sell a product, which is a necessary skill when you’re creating a start-up,” said Tiina-Maria Siipola, president of the Association of Engineers of Oulu, a city in western Finland that was hit hard by Nokia’s job cuts.

In Oulu, more than a third of all start-ups created in 2011 did not survive their first year.

Some nosta lgics in Finland still dream of the arrival of a “new Nokia,” a top world-class company that will boost Finnish pride again.

This is not a pipe dream.

Finnish entrepreneurs have had an uncanny knack for turning from underdogs into greyhounds.

Take for example Rovio, whose Angry Birds games exploited the new touchscreen features of smartphones and tablets to launch itself to success.

Another example from the same industry: Supercell, which was founded only 2010 and recently sold 51 percent of its shares to Japanese investors for $1.5 billion.

Entrepreneur Tommi Uhari thinks it is better for Finland to stick with

7

Davids rather than Goliaths, however.

“W hen Nok ia was successful, it was very hard to hire talented employees, because they all worked there! Now it is much more interesting. People are ready to take risks, and to do what really excites them,” Uhrari said.

BIR...

from page 4

that with the bidding process to be done under the general procurement law, all bid proposals will have to be assessed based on the terms and reference of the project scheme, which the BIR will formulate. He said there would be no more unsolicited proposals.

The SICPATRACE system proposed the application to tobacco produc ts of tamper-proof strip stamps using a combination of data matrix code and fuse-on features, and the installation in the premises of tobacco manufacturers of scanning and activation sof t ware to monitor the number of tobacco products produced.

During the 14th Congress, the committee then chaired by former Antique Rep. Exequiel Javier, rejected the adoption of SICPA’s tax stamps unsolicited proposal because it was deemed as an attempt to raise revenues without the nod of Congress.

The panel also said the proposal cannot be done through a variation of the build-operate-transfer (BOT) which will the ‘imprimatur’ of Congress, (PNA)

Cimagala... from page 6

included, what peace and confidence we can continue to have even as we struggle to fight against sin and evil in the world!

That skill and art will broaden our mind and heart, enabling us to fathom the richness of God ’s mercy toward us, and to foster our hope and charity amid the woes that sin and evil generate, or amid the false glitter they also produce.

That sk i l l and ar t will make our mind and hear t universa l, able to accommodate, understand and help everyone!

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

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From right, MW Pablo C. Kho, PGM, MW Romeo A. Yu, PGM, MW Peter U. Lim Lo Suy, PGM, along with two of their Most Worshipful brethrens Free and Accepted Masons of the Philippines’ Macajalar Lodge No. 184 during the consecration and dedication of the newly completed Macajalar Temple situated in Carmen, Cagayan de Oro City, Tuesday, Nov. 5, 2013.

Mindanao Daily News photo by lavie casenas

The newly completed edifice of the Macajalar Lodge 148 in Carmen, Cagayan de Oro, where the Masonic Temple sits. photo by irene dayo

Free and Accepted Masons of the Philippines members pose for posterity with their Grand Master MW Juanito G. Espino Jr. during the ribbon-cutting and interfaith blessing, Tuesday, Nov. 5, 2013, of the newly completed edifice of the Macajalar Lodge 148 situated in Carmen,Cagayan de Oro City. photo by irene dayo

Free and Accepted Masons of the Philippines’ Macajalar Lodge No. 184 brethrens led

by Grand Master MW Juanito G. Espino Jr. (at the head court) during the consecration and dedication of the newly completed Macajalar Temple situated in Carmen, Cagayan de Oro City, Tuesday, Nov. 5, 2013. (Inset) The newly completed edifice of the Macajalar Lodge No. 148 of the Free and Accepted Masons of the Philippines in Carmen, Cagayan de Oro City. mindanao daily news photos by lavie casenas and irene dayo