INSIDE LOOK
Peso seen rangebound this week
Brown hosts national palm oil congress Useful energy Ayala buys out saving tips partner in BPO
The Oro Photographic Society
BusinessDaily Economy
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Corporate World
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Market Indicators
As of 6:08 pm apr. 16, 2013 (Tuesday)
FOREX
PHISIX
US$1 = P41.38
6,786.33 points
X
51.44 points
X
15 cents
Briefly Educational aid
KORONADAL City -- Officials of the Social Security System (SSS) are encouraging members to avail of financial assistance for college or vocational technical education. Redentor Viola, manager of the SSS Koronadal Branch, said that through the SSS Educational Assistance (EducAssist) Loan Program, they could provide matriculation assistance to at least 1,000 students per semester. However, he said, only over 300 individuals in the area have availed of the Educ-Assist loan last semester. “ We are encouraging more members to avail of the educational assistance being provided by the government,” he said, assuring further that they have enough funds for the program.
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Gov’t finally postpones Misor airport opening Cagayan de Oro City
Wednesday
April 17, 2013
dotc sets opening on june 15, instead of april 30
T
By CHRISTINE CABIASA, Reporter
he Department of Transportation and Communications (DOTC) pulled off the scheduled start of Misamis Oriental’s P7.8 billion Laguindingan International airport on April 30 to June 15, this year, giving reprieve to airline companies and passengers who were both wary over its perceived premature opening.
T h e C i v i l Av i a t i o n Authority of the Philippines had earlier ordered airlines to abandon all operations at the old Lumbia airport starting April 30. According to a report from ABS-CBN yesterday, the
DILG budget
THE Department of Interior and Local Government Region 10 (DILG -10) disclosed in a news conference on April 12 the budget and projects formulated to authorize the needs of communities in Northern Mindanao for 2013 and 2014 under the Local Poverty Reduction Action program of the government. Lawyer Rene K. Burdeos, regional director of DILG10, said the DILG leads the Governance Reform Program of President Benigno Aquino through the Bottom Up Budgeting (BUB) wherein the public societies organizations, nongovernment organizations (NGOs) help in identifying needs of vulnerable informal settlers, and the grassroots per barangay, municipality and city. “BUB is an approach for preparing the budgets for national agencies taking the considerations of the needs of the basic sectors,” Burdeos said. There are seven attached agencies in the DILG particularly the Local Government Academy (LGA) whose concern is the capability development program, Bureau of Jail Management and Penology (BJMP), Philippine National Police Highway Patrol Group, Philippine National Police (PNP), Philippine Public Safety College, Bureau of Fire Protection (BFP) and National Police Commission (NPC).
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The Laguindingan International Airport as viewed from a commercial airliner. The government finally heeds to various requests to move the scheduled opening on April 30 to a later date due to lack of navigational equipment. file photo
GoldLife expands with new branch By CHRISTINE H. CABIASA, Reporter
COMMITTED in producing quality healthcare and wellness products, GoldLife Distribution Phils., Inc. has expanded their mega center with the opening last Monday of its new branch at Jofelmor Building, Mortola St., Cagayan de Oro City. GoldLife aims to provide opportunities for enhanced life, improved health and stable future for all qualified
individuals. Individuals who are industrious, ambitious and aggressive enough to join GoldLife Distribution Phils., Inc. accept concepts of direct and personalized selling techniques while enjoying the benefits of individualized incentive schemes. It is the only company in the Philippines carrying a product with chlorella.
J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
Chlorevita is 100% Chlorella, unicellular freshwater green expands/PAGE 11
POLL WATCH
DOTC decided to heed the airlines’ request to postpone the transfer to Laguindingan, until after the peak summer season since the April 30 opening would require the cancellation of some daily AIRPORT/PAGE 11
IRRI ‘produces’ super salt-tolerant rice breed By BONG D. FABE, Associate Editor
FARMERS, whose rice paddies have been ravaged by salt-water during floods and sea-water intrusion now have the chance to reclaim their farms and be productive again. Scientists and rice re-
searchers at the Los Bañosbased International Rice Research Institute (IRRI) disclosed Tuesday (April 16) that they have successfully produced a new breed of rice plant that has double the produces/PAGE 11
ADVERTORIAL
Villar proclaims NUP-NP coalition in MisOcc
By PJTREMEDAL Misamis Occidental Bureau
Mrs. Cynthia Villar (Center) raises the hands of Gov. Hermie Ramiro and V-Gov. Henr y S. Oaminal after the proclamation of the National Unity Party (NUP) in Clarin, Misamis Occidental.
CLARIN, Misamis Occidental - Las Piñas R e p r e s e nt a t i v e M r s . Cynthia Villar proclaimed the National Unity Party (NUP) in coalition with the Nacionalista Party (NP) in a crowded school campus in Clarin, Misamis Occidental, recently. With the proclamation, Vice Governor Atty. Henry S. Oaminal, the Province villar/PAGE 11
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PESO Malaybalay employs 150 students this summer By RUBY LEONORA R. BALISTOY, Contributor
M A L AY BA L AY Cit y -The Public Employment Service Office (PESO) here employed 150 students under the government’s Special Program for Employment of Students (SPES). Herculano S. Ronolo, city administrator, said the hired students underwent an orientation urging them to follow government rules and policies, specifically on the aspect of working hours and the delivery of quality public service. Ronolo said that of 150 student grantees, 100 of them will work for the period April 6-24, while the remaining 50 will work from April 6-30, this summer. “I utge the students to
utilize the SPES to help their parents face financial challenges and learn about the value of work and money,” he said. The 150 students compose this year’s first batch of SPES beneficiaries who will receive a salary of P254.09 per day. The program is jointly u nder ta ken by t he cit y government a nd t he Department of Labor and Employment (DOLE) based on Republic Act 7323 also known as an Act to help poor but deserving students pursue t heir studies by providing them employment during vacation. The act prohibits and penalizes fraudulent filers and fictitious claimants.
The mystery shopper strategy By VILMA N. LITANON
MYSTERY shopper is a strategy formulated to know why the product is not earning well. Though the company’s product is sensational and the marketing is great, for sure the problem is the distributor or the department stores or groceries that retail the product. Analyst gave the idea that there will be a person that will present him or herself to the said establishment and inquire about the items. The mystery shopper will be given instruction what he or she well do inside the store. She or he will observe how the persons
in the store treat their clients. The mystery shopper will take note on certain things to make the work much adventurous. The mystery shopper will take note if the services of the store were really great and how the sales men and ladies deal with their clients. Some stores are not earning well because of the sales men and ladies attitude. The top problem is that they will not entertain the customers if they look poor; they only give attention to those who really look rich. advertorial
Economy
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Useful energy saving tips to beat the heat of summer DAVAO City -- The Davao Light and Power Company (DLPC) here has issued energy saving tips to beat the heat of summer, which is considered extremely hot these days. “We have always been excited about summer. But due to its extremely hot weather, we’d rather stay at home and use more electricity to keep us cool during the day. As a result, sacrificing our pockets for high energy bills,” said Ross Luga, DLPC’s assistant vice president for corporate communications on Tuesday. Luga then urged their c u s tomer s to c on s er ve energy whenever possible
and offered some simple energy-saving tips that will help them and their pockets beat the heat of summer. He said customers should keep window shades, blinds, or drapes closed to block the
sunlight during the hottest part of the day; turn off non-essential appliances and as many lights as possible; whenever possible postpone using high-energy appliances like electric stoves, washing
machines, dishwashers and dryers until the evening; dry your clothes outdoors; use a ceiling fan to move air around in your home instead of air-conditioning; and take cooler and shorter showers. “Above all, the best way to enjoy summer is to spend more time outside of your home with your loved ones,” Luga said, adding “go on swimming, have picnics or exercise outdoor.” He said spending less time in the house will help one’s energy consumption bill. “Just make sure to bring with you protection from the heat of the sun,” he said. (PNA)
Govt opens loan for power coops By DAVID M. SUYAO, Contributor
PATIN-AY, Prosperidad, Ag usa n del Su r -- T he Phi lippine Government has offered assistance to a l l M i nd a n ao E le c t r ic Cooperative by extending financial assistance through a soft loan at National Electric Administration to purchase Modular Generating Sets at 6
percent interest per annum. Agusan del Sur Electric Cooperative Inc. (ASELCO) Gen. Manager Emmanuel G a l a rc e s a i d , b e c au s e of t he p ower shor t a ge t hat Mindanao is again experiencing this year, the Nationa l Electrif ication Administration convened
all the electric cooperatives in Mindanao and offered three options in order to immediately address the problem. “The first option is that, the cooperative will rent a diesel generating set at P1.4 million a month, which is very expensive. The second
option is to purchase on its own a generating sets with an estimated cost of P22 million per Mega watt (MW), and the third option is the Department of Energy will provide soft loan to electric coops at six percent interest rate per annum with loans/PAGE 10
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CorporateWorld
Ayala buys out partner in BPO leasing business meters. “ T h is acqu isit ion is aligned with ALI’s thrust of expanding its office leasing business and increasing its recurring income,” the real estate firm said. The purchase ma kes AAPPCO a wholly owned subsidiary of the listed real estate company. Prior to the acquisition, ALI held a 68 percent stake in APPCO. At end-2012, ALI’s total available gross leasable area
pack age of fered by t he company,” the statement reads. “To cushion the impact of the redundancy program, we found a lternative employ ment for a b out two-thirds of the affected employees, either in PLDT (Philippine Long Distance Telephone Co.), Sun Cellular, or with our contractors.”
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Understanding the stock market By ISABELO J. ECOJEDO
for BPOs reached 354,822 square meters. Revenues from office leasing operations rose 18 percent to P2.94 billion last year from P2.50 billion the previous year. The company’s net income increased by 27 percent to a record P7.14 billion last year buoyed by higher sales and margin improvements. After registering a record profit for the third consecutive year, ALI earmarked P65.5 billion primarily for
the completion of ongoing developments and launch of 69 new projects with a combined value of P129 billion. The company is on the penultimate year of its 5-1015 plan, launched in 2009 with the world economy still reeling from the effects of the global financial crisis. Under the five-year plan ending 2014, the real estate firm aims to have a net income of P10 billion and a return on equity of 15 percent.
Digitel’s manpower redundancy program completed D I G I T A L Te l e c o m m u n i c a t i o n s Philippines, Inc. (Digitel) has completed its manpower redundancy program, the company said in a statement recently. “Digitel has completed its redundancy program with about 80% of the 427 affected employees accepting the enhanced redundancy
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AYALA Land Inc (ALI) has bought out its partner in a joint venture that owns office buildings hosting business process outsourcing (BPO) firms. In a disclosure to the Philippine Stock Exchange, ALI said it entered into a sale and purchase agreement with Global Technologies International Limited to acquire the latter’s 32 percent stake in ALI Property Partners Co (APPCO) for P3.52 billion. APPCO owns buildings in Makati, Quezon City and Laguna catering to BPO firms. They have a total gross leasable area of approximately 230,000 square
BusinessDaily
The employee redundancy program was a result of the merger of Digitel with PLDT in October 2011, which gave the latter around 70% of the market share and left Globe Telecom, Inc. with 30%. PLDT President Napoleon L. Nazareno last month said telco spent P1.4 billion for the 850 employees displaced by the merger.
PEOPLE that have no back grounds with business course will really have a hard time understanding the stock market. Stock market is a place where companies trade their share and if you are a wise buyer you will earn more than what you have. One of the tips in choosing a good company is that it should have a good money flow. Money is multiplied easily in the stock market but if looking for a long term goal choose a company with good track record and is not experiencing any crisis.
How to make money with the stock market online By ISABELO J. ECOJEDO
WE people are never satisfied with what we have that is why there are many opportunities given by many people for us to earn more money. Making money with the stock market online is common for business man that needs more time at home. Having the internet makes the stock market accessible for everyone as long one have the bank account. The stock market should be fully understood because it changes every minute, if one wants to make money out of it one should consider to consult a broker because he knows a lot about the past performance of such company.
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A Brown hosts national palm oil congress in CdO CAGAYAN DE ORO — Preparations for the 8th National Oil Palm Congress on April 18-19, 2013, has reached fever pitch as A Brown Company, Inc., through its subsidiary A Brown Energy Resources Development Inc. (ABERDI), which host this year’s event, is gunning for a successful gathering of key players of the oil palm industry here and abroad. With the theme: “Utilizing unproductive lands and promoting economic stability thru investments in the palm oil industry,” t he t wo-day nat iona l event is being organized by the Philippine Palmoil Development Council, Inc. (PPDCI). It will be held at the posh Xavier Sports and Country Club, Xavier Estates, Cagayan de Oro. The Cong ress is cosponsored by t he Loca l Government of Cagayan de Oro, A Brown Energy and Resources Development Inc., Anco Products Inc. (API) Group of Companies, Kenra m Indust ria l & Development, Inc. (KIDI), Filipinas Palm Oil Plantation Inc. (FPPI), Land Bank of the Philippines (LBP), Department of Agriculture (DA) a nd ot her major industry players, with the support of the Department
A g randmother makes ro of i n g m ate r i a l f ro m Nipa in a quiet corner i n B a ra n g a y B o n b o n , Cagayan de O ro Cit y. Nipa is har vested from the seaside barangays of the city. One set is sold for P350, enough for a day’s expenses if a vendor is able to sell one.
photo by gerry lee gorit
of Tr ade a nd I ndu st r y (DT I), Reg iona l B oa rd of Invest ments (R BOI), Department of Trade and Industry (DTI), Philippine C oconut Aut hor it y Pa l m Oi l Development O f f i c e ( P C A – P O D O) , Department of Tourism (DOT), (Depar tment of Environment and Natural Resources (DENR) and other stakeholders. Updates on the Philippine palm oil industry, development initiatives, technologica l advances, banking support, local and international trends and prospects among others will be discussed during the congress. Robertino E. Pizarro, newlyelected president of PPDCI, said expected to attend are some 500 key players in the palm oil industry, including representat ives f rom leading palm oil producers
Indonesia, Thailand, Papua New Guinea, Costa Rica and Singapore. A lso inv ited were government agencies involved in the development of the palm oil industry, supply chain players, the business commu nit y as well as local government units and other support organizations, Pizarro said. ABER DI operates a 1, 50 0 -hec t a re pa l m oi l plantation in Kalabugao, Impasug-ong, Bukidnon and Tingalan, Opol, Misamis O r i e nt a l a n d s o on i n Tignapoloan, Cagayan de Oro City. ABERDI also operates a 10-tonner crude palm oil plant in Impasug-ong, Bu k idnon. By June t his year, the 50-tonner palm oil refinery plant will be operational and is expected to produce 1,000 metric tons of palm oil per month.
SUNRISE INDUSTRY. The 900-hectare Palm Oil plantation in Kaanibongan, Kalabugao, Impasug-ong, Bukidnon, operated and managed by A Brown Energy Resources Inc. (ABERDI), a subsidiary of A Brown Group of Companies.
Port accreditation for oil imports to begin in May IN A Department Order (DO) issued last week, the Department of Finance (DOF) authorized the Bureau of Customs (BOC) to begin the development and implementation of a new set of measures aimed at curbing the smuggling of oil and other goods into the Philippines. “Customs Commissioner Biazon and I have been working on these anti-smuggling tactics, which should provide new tools to empower our customs department against smugglers. In addition, they will make customs collectors accountable for their own performance,” Secretary of Finance Cesar Purisima said. The DO instructed the BOC to work on the implementation of the following measures: port accreditation, submission of rolling import plans by importers, trade statistics reconciliation, special monitoring of oil smuggling cases, as well as other measures. Purisima noted that the measures will significantly hinder smuggling in the Philippines. “The effects of smuggling are observable in the daily lives of Filipinos, so
our Department cannot be satisfied until they have been wiped out. This order will no doubt strike a heavy blow against those who do not do business fairly in the Philippines,” Purisima said. Port accreditation According to the DO, only particular ports will be accredited for sensitive commodities such as oil, steel, grains, tiles, gold and vehicles, subject to standards, technical requirements and applicable laws, rules and regulations. This is to determine the behavior of “port shopping” observed by importers that frequently change ports of entry in order to avoid tax. Accredited ports are to submit to the DOF monthly trade statistical reports that will be cross-checked with data from the Department
of Energy (DOE), Philippine Ports Authority (PPA), and other relevant agencies, on a per-volume and per-vessel basis to eliminate discrepancies in import and consumption data. Port accreditation shall initially be implemented on the importation of oil beginning May 2013. DOE data for the year 2011 showed oil demand to be at 106.9 million barrels, while BOC oil imports were recorded at 67.6 million barrels, registering a gap of 39.3 million barrels that is likely filled by smuggling. Rolling import plan The DO specifies that the BOC shall require all importers of sensitive commodities to submit their annual rolling import plan indicating quantity, type, source and location of intended port oil/PAGE 10
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Despite low interest rates, MSMEs still hard up for loans
DESPITE the record low interest rates, poor access to credit has hindered the expansion of micro, small and medium enterprises (MSMEs) in the country, the research arm of the Philippine Chamber of Commerce and Industry (PCCI) said on Tuesday. In a study conducted by PCCI’s Universal Access for Competitiveness and Trade (U-ACT) last year, the think tank found that access to financing remains a problem among MSMEs despite the presence of a law mandating credit quotas. MSMEs’ difficulty in securing bank loans flies in the face of the Bangko Sentral ng Pilipinas’ (BSP) efforts to bring down interest rates in the hopes of making credit more accessible to those who need it. Benchmark rates have dropped to historic lows amid the excess liquidity in the market. To encourage banks to lend out more, the BSP has brought down its policy rates as well as its special deposit account (SDA) rates to record lows. Bank loans have risen faster than the economy, but U-ACT said little of the bank credit has been channeled to the MSME sector. Dona ld Dee, U-ACT chairman, said compliance with the MSME Magna Carta remains wanting, adding that
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Peso seen range-bound this week THE PESO could be range-bound this week due to a lack of strong market leads. The local currency hit a near five-month low as it dropped 11 centavos to close at P41.27 per dollar last Friday from its P41.16-per-dollar close the previous week. “The peso is projected to be range-bound this week as we enter a light trading week. No huge economic data is expected to be released,” a trader said in a phone interview last Friday. “Dealers will wait for further developments abroad. They will closely monitor events in Korea,” he added. Negative events abroad -- the continued threat of war from North Korea against South Korea, as well as weak jobs data in the United States -- coupled with the corporate demand for dollars weighed on the peso last week. Another trader, in a separate phone interview, said the US retail sales data released last Friday may influence the peso’s performance against
the dollar when trading resumes today. The US Commerce department reported that retail and food services sales in the world’s largest economy fell by 0.4% in March, following a 1.1% rise the previous month. It was the biggest contraction since June last year. The market had expected retail sales to remain unchanged. The peso is expected to trade within the P41- to P41.35-per-dollar band this week.
The quest for investment-grade status: It started with every Pinoy’s pockets
incentives should be provided to encourage collateral-free lending. The BSP should be more f lex ible when it comes to reg u lat ions on ba n k financing to encourage credit
to MSMEs, Dee said. “While mandated, access to financing continues to be a hurdle for most of our MSMEs. For an economy that is primarily supported MSME/PAGE 10
FITCH Ratings’ hike in the Philippines’ credit score to investment grade did not happen only during the Aquino administration alone. Even Fitch acknowledged that. One thing’s for sure: The upgrade would not have happened if every Filipino didn’t carry the burden of more taxes just so the Philippines is spared from financial ruin. The government insisted
on a law that hit the stomachs of the poor and dented the rich: the Reformed Value Added Ta x (RVAT) Act. The so-called “sin taxes” on alcohol and tobacco were also raised and corporate tax rate hiked to 35 percent. Experts said the RVAT was a tipping point for the Philippines as it kept the country from bleeding dry. From P211 billion in 2002, the country’s budget deficit
was narrowed to P147 billion in 2005. Without the additional revenues, the government would not have been bold enough to try trimming the budget deficit and whittling down its borrowing. Fiscal consolidation and economic reform that led to this credit rating upgrade spanned several presidencies as this time line would show.
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Exercising parental authority
E
xercising authority is always both a delicate and and Traces rewarding duty. This is espeBy Fr. Roy Cimagala cially so when done toward growing children. That’s where one’s integrity and the authenticity of his love, with its usual demand for sacrifice, can be shown, as well as developed. That’s because it’s in the home, living with the children 24/7, where the battlefront of this exercise is located. In other aspects of our life, as in our profession, social or political life, the exercise of authority can be intermittent and can easily be delegated to others. Not quite so in the family, with children still growing up. We, of course, know that the power and authority we may have over the others is always a participation of the authority of God. And such authority should be exercised with God’s will always in mind. That’s what St. Paul clarified. In his letter to the Romans, he said, “There is no power but from God, and those that are, are ordained of God.” (13,1) We need to be clear about this, because many times we can feel that the authority we wield is simply ours. Or that our authority comes from us individually or personally, or from among ourselves through some consensus, and that it can be used to pursue solely our own goals and designs. This point has to be brought out because big sectors in society today, especially those influenced by leftist and Godless ideologies, consider authority as simply originating from them. They confuse the divine beginning and end of authority with the mechanics of who to assign it among ourselves, what its coverage is, how to exercise it, etc., all of which can be decided among ourselves. Of course, in the context of the family, parental authority is easily recognized by the children. No need to figure it out through some election or other screening Cimagala/PAGE 7
HINTS
(Part 1)
Y
ou have started to learn the ins and outs of investing your money. And perhaps for the first time ever, you are now actually doing it! Welcome to the club of the investors – those who are making their money work for them. But have you actually asked yourself why are you growing your money? What are you investing for? What are your investment goals? When would you need it? We have so many reasons for growing our money. These may either be generic or personal. But growing your money for no reason at all might lead you nowhere. Being able to retire with a comfortable lifestyle someday is perhaps the most common generic investment goal for all. Would you in your right mind plan to still work actively for your entire lifetime even if the physical strength that you once had is already waning? That retirement – whether by choice or by force – may come in early for some, or perhaps by the age of 60 for many. Retirement for most is attaining that state of not being obliged to work actively, even if you do not want to, just to earn your keep. For by then, you should have already accumulated enough balanced assets that can support your chosen lifestyle for the rest of your life. For many families, another common goal is to prepare adequate funds for the education of the children in due time. If the college you would like to send your child to in ten years’ time currently charges P150,000 in annual school fees, would you have an idea how much should you have saved by then? Other reasons may be personal and varies from individual to individual. That might be having funds to
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A Minute
the dumbest!” The next year By Jhan Tiafau Hurst Johnny had a different teacher. After the first day of class, his new teacher met with him. She said: “Johnny, I’ve heard a lot about you!” Then she smiled and said to him: “But I don’t believe a word of it!” From the beginning, Johnny’s new teacher treated him as if he was one of the smartest, best behaved students. Well, you guessed it. After just a few months, Johnny became one of the top students in that class. Later on he was made a school prefect and leader! That’s the power of our love, belief, and encouraging attitude toward our children. You see, that’s how God loves and believes in you and the abilities He gave you. So won’t you ask Jesus Christ to take charge of your life today, and every day of your life? He’s the One Who will help you become your best. He’ll also help you to love and expect the best from others. Just Think a Minute…
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Expect the best
famous professor from Harvard University did a study in a primary school. At the beginning of the school year the teachers were given the names of 5 children. The teachers were told that these 5 were the best students in the class. But the fact was that these students were only average. Well, guess what? By the end of the year all 5 average students scored among the highest in the class. They even gained 15-30 I.Q. points! So what made those average students change so much to become top students? The only difference was the change in the teachers’ attitudes. Since the teachers believed that these 5 kids were the top students, they expected more from them and treated them with more respect. So these 5 average students began to believe and expect more from themselves, just by the way the teachers viewed and treated them. You know, if you expect the best from people, they’ll usually want to give you their best. A great leader said: “Treat a person just how he appears to be on the outside, and you’ll make him even worse. But treat a person like he’s already a success, and you’ll help make him the best he can be.” It reminds me of the true story of 7-year-old Johnny. His school teacher got so tired of him one day she said: “Johnny, you’re the naughtiest boy in this class! Besides that, you’re
ATTY. MARIO T. JUNI
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THE
Financial D octor
By Adonis Agcopra start building your dream house in five years. Or that could be enjoying your dream family vacation in one of those exotic places in a year or two. Perhaps it could even be accumulating more than enough wealth for altruism, and helping others for a noble cause! Nevertheless, whatever those goals are, the most important questions you need to be asking would be: Are my goals realistic? Are they monetized into the right figures? Are my assumptions with regards to returns correct and realistic? In setting future financial goals, you need to establish how much is enough and when would you need it. For only then would you be able to know if you have reached your investment target. Only then would you be able to select the best portfolio from the investment pyramid with the appropriate mix of risk, return and liquidity to match your investing horizon and profile. Being able to come up with the right assumptions and projections for your future lifetime financial goals might need the help of a reliable financial professional. Act now! ---- (Dr. Adonis Agcopra, MBA, CIS, RFC® is with the IARFC and is portfolio director of AFIC Meridian Consultants. URL: www.aficfinancialconsultants.com. Email: aficfinancialconsultants@outlook.com.)
Thrift Banks - for broader horizons SPEAKING O (First of two parts)
I
had the privilege of witnessing the changing of the guard of the Chamber of Thrift Banks during CTB’s recent annual convention. TG Limcaoco, president of BPI Family Bank, took over the helms of the chamber from Patrick Cheng, president of HSBC Savings Bank. It was an auspicious occasion for the thrift bankers whose convention theme was Building for Broader Horizons in 2013. The event was graced by BSP Governor Amando M. Tetangco, Jr., BSP Monetary Board Members (Peter Favila, Andy Suratos, and this writer), Deputy Governor Nesting Espenilla, and other BSP senior officials. Gigi Montinola, president of Bank of PI, himself a former president of the Chamber of Thrift Banks, was also a guest and a resource speaker during the convention’s morning session. For our non-banker readers, thrift banks, refer to that classification of banks which consist of savings banks, private development banks and savings and loans associations. In terms of size and banking activities, thrift banks occupy a notch below commercial banks but above rural banks. Thrift banks focus on retail lending, specializing in such areas as small business loans, housing, auto and personal loans. I got my first car loan and subsequently my house improvement loan from a thrift bank. As TG Limcaoco aptly put it, “Thrift banking is not about thrift, but really, about financial inclusion. In the
ut
By Ignacio Bunye
early days, and even up to today, thrift banks set themselves up in areas where the larger commercial banks were hesitant to open.” Today, thrift banks are present throughout the country through 1,600 branches, 70 per cent of which are located outside Metro Manila. It is estimated that thrift banks provide banking and bankrelated services to close to 5 million Filipinos. In 2012, the thrift banking industry grew its assets almost 10 percent to P666.17 billion. Compare that to the situation years ago when, as Gigi Montinola described it, “the sum of the entire thrift bank industry then (was) the size of one major thrift bank today, both from the asset and capital perspective.” With respectable asset growth and an expanding network, Limcaoco said: “We can and should be the engines of the countryside.” But to be able to do that we need “ to build our skills, our capabilities, our institutions so that we can do more for our customer base.” Taking the cue from the BSP, Limcaoco added: “We need to take a leadership role in financial literacy so the general population understands how to use the financial system responsibly and to their benefit.” Bunye/PAGE 7
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Bunye... from page 6
The road ahead for the entire banking industry looks rosy – thanks to a strong growth-low inf lation rate scenario, a robust external position, stronger consumer confidence, and just a few
days ago – a country investment grade rating. But the industry needs to do more. To further broaden the thrift banking industry’s horizon, Governor Tetangco and Gigi Montinola left precious words of advice for the thrift bankers. (To be concluded next week)
Cimagala... from page 6
What is to be kept in mind more is that this parental authority be maintained and done properly. But how can we do this? I suppose that first of all we have to be reminded that
power and authority has to be used as an expression of love, shown in deeds of service, and not regarded as an entitlement to some privilege or advantage over the others. Christ himself warned his disciples about this. He said: “You know that the princes of the Gentiles lord it over them, and they that are greater exercise power upon them. “It shall not be so among you. But whoever will be the greater among you, let him be your minister, and he that will be first among you, shall be your servant, even as the Son of Man has not come to be served but to serve...” (Mt 20,25-27) In the context of the family, the parental authority can be done well if it is exercised to give the children the basic equipment to become better persons and ultimately,
better children of God. T h is c a n happen i f the parents can show by consi stent ex a mple to their children that they are happy with their own lives that are dedicated in pursuit of the love of God in all aspects of their lives. Besides t hat, t hey should exercise their authority with due respect and an unconditional love for their children, treating them as they are but slowly molding them to be good persons and children of God. This is how the parents can gain their children’s trust and confidence in an increasingly meaningful way. Children are usually observant of their parents and tend to imitate them even automatically. If they see their parents praying and how that prayer is helping their parents, making them happy and at the same time able
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to cope with all the challenges of life, t hen t he children will just develop a love for prayer and the a love for cultivating a life of faith and hope. How parents react to the different events and circumstances of life, both good and bad, happy and sad, is also how the children will learn to react in similar events and circumstances. That’s why parents really have to spend time with the children. They should see to it that they organize their life, especially in the aspect of their profession and other social obligations, such that the quality time with the children is not compromised. They have to cultivate healthy family practices and traditions to foster family life, and to exercise parental authority effectively, and even with the children not noticing it.
Brazilian model-actress Diana Menezes accompanies Cagayan de Oro City 1st District Rep. Benjo A. Benaldo in campaigning for his re-election as a congressman in the May 2013 mid-term elections. Benaldo has been on a campaign trail almost daily in all barangays of the first congressional district of Cagayan de Oro. photo by gerry lee gorit
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Last year, we honored Mindanao’s homegrown businesses... This year, let the Investors from outside the island who helped propel Mindanao’s economy for decades be recognized...thus,
present
RATIONALE OF THE PROJECT - This is the 2nd Mindanao Business Leaders Awards, in a different category from the first one. The 1st Mindanao Business Leaders Awards was undertaken last year to give due recognition to the achievements of various Mindanao business leaders and entrepreneurs in various categories of homegrown corporate and individual business leadership achievements. - This year’s search is aimed at giving honor and recognition of excellent business leaders in the investors’s category. - BusinessWeek Mindanao as a forerunner of information on economic leadership and entrepreneurial achievements of non-Mindanaoan corporations and businessmen, deems it a part of its social responsibility to trumpet the achievements of these pillars of Mindanao’s economy, for others to emulate and thus propel an awareness for the business potential that Mindanao offers in every economic and business investment plan, whether small or great. -We are helping Mindanao achieve sustainable development of its economy through these humble efforts.
MISSION & VISION OF THE AWARDS - The holding of BWM Awards annually serves as catalyst to the ongoing efforts of business leaders and entrepreneurs who seek greater heights and strive for success in the noble mission of propelling Mindanao and its people towards full economic growth and sustainable development.
For INQUIRIES CONTACT:
(088)856-3344, (08822)74-53-80 | 09274795196 (Allan Mediante) businessweekmindanao@gmail.com
Mechanics of the Search: Duration of the Search Awards Night
: :
January 15, 2013 to May 15, 2013 June 1, 2013
Entry Requirements: 1. Individual and Company/Establishment nominations shall be accompanied with Nomination Forms available on-line at the Sponsors Website, offices of sponsors, or in the printed page of Businessweek Mindanao and Mindanao Daily issues or may be mailed, if requested, by the Awards Secretariat 2. Nominees or candidates in various categories shall be nominated by BusinessWeek Mindanao and Mindanao Daily Bureaus; individuals, organization or groups not employed by or connected to any of the nominated person or firm . 3. Nominations shall be accompanied by the ff documents which can be mailed, or emailed to the awards secretariat - MINDANAO BUSINESS LEADERS AWARDS 2013 Secretariat, Tanleh Bldg., Abellanosa St., Cagayan de Oro City,not later than May 15, 2013. 4. Brief Resume and History of the Nominee (Individual or Firm) - Photos (at least 3) ; Nomination Form ; Documentary evidence such as certificates, awards or citations
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Loan... from page 2
a grace period of two years. Meaning, the cooperatives will be given two years that they will only pay the interest. Thereafter, the electric coop will decide to push through in acquiring the generator sets, or return the gen sets to the government. During our meeting with the Board of Directors of ASELCO, the body has decided to take the third option,” Engr. Galarse said. Ac c ord i n g t o E n g r. Galarse, when the modular gen set will be in place on August this year, the power deficiency will automatically go down from the monthly average of 10,500 kilo watt (KW) from this month to July, to an average of 1,400 K W sta r t ing Aug ust to December. Agusan del Sur at present has a monthly demand of 25,770 KW per month. “With the installation of t he gen set s , power interruption w ill surely b e come shor ter. T he s e days, we are experiencing a maximum of 1.5 hours per feeder rotational brown out with a total of four and a half hours a day. But it is also expected that electric rates per kilowatt hour will also increase from P1.80 to P4.00 per kilowatt hour,” Engr. Galarse said. During brown outs, Engr. Galarse said, big industrial
establishments incurred a difference P9.00 per kilowatt hour if they use their own generator sets. While paying only P7.00 per kilowatt hour, they will be spending P16.00 per kilowatt hour for diesel.
Oil...
from page 4
arrival. The BOC shall then pre-authorize importation of sensitive commodities in accordance with the annual import plan. Stats reconciliation Ports shall submit to the BOC and the DOF a monthly list of importations arriving per port, whether sea or airport, international or domestic, and shall include details such as date of arrival, name of country/port of origin, capacity of vessel/ aircraft, type of commodities, and consignee details. Collected data from the ports shall be cross-checked with data from the DOE, PPA, and other relevant agencies, on a per-volume and pervessel basis. The BOC is also directed to improve reporting forms and administrative support to the BOC Statistics Office and the Management Information System and Technology Group to capture data required. Other measures The DO also calls for the following measures to be implemented: strict implementation of Revenue Regulation No. 2-2012 which
requires importers to pay value-added tax and excise tax on all oil imports upon arrival in the Philippines, submission of Income Tax Return as received by the Bureau of Internal Revenue (BIR) as one of the requirements for accreditation of importers with the BOC, and the conduction of post-audit examinations on importation of sensitive commodities. The BOC was also instructed to work closely with the BIR and the respective local government units at port areas, subject to existing laws on exchange of information with regard to importers of sensitive commodities.
MSME... from page 5
by MSM Es, f ina ncing is a crucia l f unction of MSME growth and more importantly to support their internationalization,” PCCI president Miguel Varela said, noting that MSMEs comprise 99 percent of businesses in the country. To broaden access to credit, the U-ACT study recommended imposing standard and simple lending procedures on top of providing a special package or window that carry low interest rates. Property rights protection weak Besides access to credit, t he U-AC T s t udy a l s o cited weak property rights protection as a constraint to
MSME expansion. Among the key issues are: - Corruption and red tape; - Overlapping functions of various agencies; The uneven computerizatIon of the Land Registration Authority; - The presence of informal settlers; and - Weak courts. According to U-ACT, the concerns on property rights highlight “the need for a one-stop shop type of facility which can lower the processing time and speed up the coordination process between national government agencies and the local government units (LGUs).” At present, businesses deal with national agencies such as the Bureau of Internal Revenue (BIR), the Registry of Deeds and the Department of Environment and Natural Resources-Land Management Bureau (DENR-LMB), on top of the local assessor’s office, among others. Because of the number of agencies to be dealt with, the U-ACT study noted that MSMEs face the following problems: - Longer time of transaction because doc u ment s a re not yet digitized and the process not yet computerized; - Missing documents; - No standard valuation; and - No signages showing
the number of steps and procedures. To address the issues on the property administration system, PCCI is pushing for the passage of pending bi l ls such a s t he L a nd Administration Reform Act (LARA), Land Use Act and Valuation Reform Act. Apart from legislation, t he government shou ld
i mprove coord inat ion between the national and local governments in the administration of policies on zoning, valuation, registries, records management, titling a nd ta xation shou ld be improved. Uniform land valuation s t a nd a rd s s hou ld a l s o be adopted, said Dee. – Interaksyon
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Today’s HOROSCOPE AQUARIUS (January 20 – February 18) - Right now you have so much going on in your life you barely have time to catch your breath. When you have a ton going on all at once it can heighten your stress level and lower your productivity. Outline a clear plan with a timeline and stick to it. Manage one thing at a time and balance your stress with relaxation.
GEMINI (May 21 – June 21) - Your mind works so quickly and adeptly that you’ve found a solution to the problem and are on to the next issue while everyone else is left behind. Find an effective way to share your solution so all involved are on the same page. You may think it’s so simple others must have thought of the idea already, but chances are that’s not the case.
LIBRA (September 23 – October 22) - In order to take on a new endeavor you will probably have to end your involvement in other. There are still only 24 hours in a day and you must allot your time accordingly. You still need to have some sort of fun and relaxation as well as manage all your priorities.
PISCES (February 19 – March 20) - You have no qualms loaning your time to others to help them excel. Just make sure that those you choose to spend your time on are worthy of your assistance. If helping someone else will rob you of time and energy instead of supply enthusiasm, you may want to reconsider.
CANCER (June 22 – July 22) - Don’t confuse the reason a friend comes to you with a problem. It may be they just need an ear and a shoulder, not advice and direction. Don’t outlay more of yourself than is needed in the given situation. If all you have to do is listen that is an easy task compared to solving everyone else’s problems.
SCORPIO (October 23 – November 21) -You may not like to be pushed out of your comfort zone, but it may be necessary to get what you want. Learn the art of compromise and you will make allies who can lend their influence or expertise to your endeavors. Changing your plans may be an inconvenience at first, but the rewards you reap may be well worth the irritation.
ARIES (March 21- April 19) - Don’t get too used to your current position in life as the stars indicate you won’t be in the same place by year’s end. The future holds much promise for you and it is crucial for you to continue working at your steadfast and determined pace. Keep your focus on the task at hand, but reserve a small space in the back of your mind to think about what the future holds.
LEO (July 23 – August 22) - An event will occur to let you know you are headed in the right direction. Pay attention to the signposts around you that indicate you are making the most productive choices. You don’t limit yourself or your options and this means you’ve got plenty of possibilities to involve yourself in.
SAGITTARIUS (November 22 – December 21) - In order to ensure you get a fair shake it is crucial to know what your value is. Knowing what you’re worth and asking for it is how you get respected and feel satisfied with what you do. Insisting on getting what you deserve isn’t greedy; it is simply the way you must operate if you want to be successful.
TAURUS (April 20 – May 20) - The secret to wealth is making sure your money is working for you. Look into new investment or savings strategies that maximize your profit. Think long and hard about any changes you’d like to make and create an appropriate plan to achieve your goals. Achieving fiscal security is one way to ensure your stress levels are in check.
VIRGO (August 23 – September 22) - Perpetual pessimism can have a terrible effect on your mood and your life. Make it a point to avoid those who can’t ever seem to find the silver lining. Infiltrate your mind with positive, uplifting thoughts and continue to strive for better results. Optimism and hope can carry you in times of stress.
CAPRICORN (December 22 – January 19) - When an issue arises in a personal relationship you will want to hatch a clearly laid out plan to deal with it. Before you approach the person know exactly what purpose you intend to fulfill. Prepare yourself with the necessary information and a potential plan of action. No one wants to hear about a problem if you don’t also offer a solution.
CROSSWORD puzzle
CIRCLE A WORD happy anniversary
paper cotton leather fruit wood iron wool
bronze pottery tin steel silk lace ivory
crystal china silver pearl coral ruby sapphire
across 1.Round flattish loaf (7) 7.Journal (5) 8.Agony, suffering (7) 9.Join forces (4,2) 11.Fire (5) 13.Pant (4) 14.Improve (7) 15.Tip off (4) 16.Attach (5) 17.Technique (6) 21.Pandemonium (7) 22.Wed (5) 23.Green, lush vegetation (7)
DOWN 2.Early pharmacist (10) 3.Gas, symbol N (8) 4.Irish country (4) 5.Currency unit (5) 6.Narcotic (4) 9.Colossus (5) 10.Strange (10) 12.Unit of heat (5) 13.Scented (8) 18.Saturate (4) 19.Irish Republic (4) 20.Loose slipper (4)
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Airport... from page 1
trips. “As we took stock of the assessment of both CAAP and the airline companies that the Laguindingan Airport is already a safer alternative to the Lumbia Airport, we again listen to their inputs saying that postponing the transfer will be better for passenger convenience,” the DOTC said in a statement. Airline companies were said to have encountered problems in reaching many passengers who have already bought tickets for April and May flights, to inform them of changes in their schedule. “The postponement will give the airlines ample time to inform their customers of their new flight schedules at Laguindingan Airport. This will lessen the possibility of disrupting travel plans and causing inconvenience to the riding public,” the DOTC said. C e b u P a c i f i c A i r, Philippine Airlines, PAL Express, and Zest Air fly to Cagayan de Oro, serving a combined total average of over 2,000 passengers daily. The government earlier announced the Laguindingan airport will be temporarily operated by CAAP using Visual Flight Rules until its air navigation equipment is fully in place by May 2014. Since the CAAP was still in the process of acquiring r u nw ay l i g ht s for t h e
Laguindingan airport, flights can only operate during the day.—with a report from ABS-CBN
Produces... from page 1
salinity tolerance of other rice varieties. “This will make salinestricken rice farms in coastal areas usable to farmers,” lead scientist Dr. Kshirod Jena said in a statement. “These farmlands are u s u a l l y a b a nd on e d by coastal farmers because the encroaching seawater has rendered the soil useless. That means livelihood lost for these communities,” Jena said. Based on the IRRI research, this new rice breed — produced by the crossing (mating) of the exotic wild rice species Oryza coarctata and the rice variety IR56 of the cultivate rice species O. sativa — can expel salt it takes from the soil into the air through salt glands it has on its leaves, Dr. Jena said. The scientist said that the new rice breed is extra special given that O. coarctata “is extremely difficult to cross with cultivated rice varieties [since] the location of O. coarctata in the rice genome sequence is at the other end of the spectrum from that of rice varieties such as IR56.” “W hen we cross t wo types of rice with genomes so far off from each other in the genome sequence, the resulting embryo tends to
abort itself,” Dr. Jena said, adding: “We’ve been trying to backcross these types of interspecific hybrids since the mid-1990s, but we have never been successful, until now.” The reason scientists did not give up on crossing the two types of rice was because O. coarctata is a special type of rice that grows in brackish, salty water, thus making it highly resistant to saltiness in the soil. According to Dr. Jena, O. coarctata can tolerate a higher salinity concentration (similar to that of seawater), whereas current salinitytolerant rice varieties can cope with only half that concentration. However, O. coarctata is unsuitable for the production of edible rice. The first sign of good news came when, out of 34,000 crosses made, three embryos were successfully “rescued.” Of these three, only one embryo germinated to produce one single plant. “We treated this single plant survivor like a baby,” Dr. Jena said. The surviving plant was then transferred into a liquid nutrient solution to ensure its survival. Once the plant was strong enough, it was grown in the field, where Dr. Jena and his team used it to backcross with IR56. Backcrossing ensures that the resulting progeny will contain all traits of IR56, and take only the desired
O. coarctata trait, which is its salt tolerance. Dr. Jena’s team at IRRI is presently perfecting their new doubly salt-tolerant rice and will test it widely to ensure it meets all the needs of farmers and consumers. They hope to have the new variety available for farmers to grow within 4–5 years.
Villar... from page 1
NP Chair and the Governor Hermie M. Ramiro, NUP Chair join hands with the Team Pinoy NP stalwart in pronouncing the Coalition for Progress and Development not only with the second District but to the whole province as well. Meanwhile, Vice Governor Henry S. Oaminal said in an interview after the proclamation also thanked the Congresswoman for the visit and he hopes that when given a seat in the Senate, the province of Misamis Occidental will surely support the programs and projects of Mrs. Hanepbuhay. ”We need it here in our province”, Oaminal said. The Vice Governor is seeking for a seat in Congress representing the people of the Second District of Misamis Occidental. In her message, Mrs. Cynthia Villar guarantees to continue to promote barangay-based livelihood centers that are benefiting more than 500 families in the city and is being duplicated in various provinces. A total
of 111 pilot centers have been established nationwide. The success of her green social enterprises has earned for her the moniker “Misis Hanep Buhay.”
Expands... from page 1
algae that is an abundant source of nutrients. Chlorevita is a whole food. In every food, what matters is the amount of nutrients that our body assimilates. Chlorevita as a pure Chlorella product contains 20% fibrous outer shell and 80% of food contained in Chlorella’s inner nutrients – a super food rich in protein, amino acids, vitamins and minerals, and fiber. About 60% of this is protein which is the “building blocks of life”, as it is the primary life substance of our body responsible for the state of our structural and functional compositions. Protein in Chlorella is classified as Complete Protein as it contains the 9 Essential Amino Acids that is absent in most plant foods. For better absorption of these Amino Acids which is the “building blocks of proteins”, Chlorella was packed with the needed Vitamins B6 and C necessary to achieve proper metabolism. GoldLife is the result of years of strategic planning for best marketing concepts, coupled with technical researches and the assistance of consultants from the US,
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Switzerland, Germany, Hong Kong, Singapore and India. Clinical sampling and surveys were also done in order to come up with Vitamins, Supplemental and Nutritional products that would bring effective results to good health and bring profitable returns at the soonest time possible. “It started with the motivation for our products to be distributed, our products to move forward”, Mr. Dick Balajadia, GoldLife President shared. GoldLife Distribution Phils., Inc. promises to maintain the highest quality of our products; as we assure our Business Partners that all products have passed the stringent Quality Tests on Purity and Potency by a CGMP compliant Quality Assurance Department.
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L ifestyle 12 Nikon showroom opens in Oro CREDIBLE
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local photographers and enthusiasts share conversations with George Tapan shaun alejandrae yap uy, Editor-in-Chief
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hotographers and photo enthusiasts gather for the opening of the Nikon showroom at Unit 3117, 3rd level of the Centrio Mall, Cagayan de Oro City, April 15. Nikon prides itself of the Total Digital Imaging System and brings to the city its exciting line of photography equipment and the latest DSLR line-up. Internationally-acclaimed travel photographer George Tapan graced the occasion with a short talk of why he chooses Nikon, as guests and photography enthusiasts listen to the narrative of one of the best photographers in the world.
Photographer Glenn Palacio recalls some of the lines said by Tapan, “Sir George said that photography should not just be a lifestyle but a way of life”. Palacio further recalls one of the most striking statements Tapan made, “he told us that he is against animated looking photos of people, places and events and that he is proud to be a travel photographer”. Photography aficionados from Northern Mindanao will now experience Nikon’s presence in the market, and Nikon finally says to Cagayan de Oro – I AM HERE.
World renowned travel photographer George Tapan gives a short talk about photography in general and his love for travel photography. Photo by GLENN PALACIO
OPS board member Engr. Lauriel dela Cruz poses with George Tapan in a photo op.
Oro Photographic Society (OPS) in a photo op with George Tapan (center), the Philippines’ highly respected travel photographer, during the opening of the Nikon showroom at the Centrio Ayala Mall, Cagayan de Oro City, April 15. (from left) John Peligrino, Arch. Lito Busgano, OPS Past President Tonyboy Fernandez, OPS President Atty. Ronald Quitos, OPS Past President Luigi Sarraga, and Shaun Alejandrae Yap Uy, editor-in-chief of The Cagayan de Oro TIMES. Photo by Engr. Lauriel dela Cruz, OPS
Nikon CDO’s Mr.Ricardo Tan during the blessing and opening of the Nikon showroom at the Centrio Mall. Photo by GLENN PALACIO
Architect Ranke Lim poses with George Tapan in a photo op. Photo by lauriel dela cruz, Ops
3 days of great uptown shopping at SM Experience the great uptown shopping at SM City Cagayan de Oro as it brings you once again big savings and exciting prizes on its 3 day mallwide sale on April 19, 20 & 21 from 9am to 10pm. A total of 3 units of Devant 50” Smart Internet TV will be given away as prizes during the 3 Day Sale raffle draws daily at 9pm. Get 3 additional raffle coupons upon showing the SM Supermalls Global Pinoy Card and an additional 1 coupon for every 1 set purchase of SM Eco bags along with a P 500 worth of single or accumulated purchases from mall establishments. SM Advantage, SM Prestige, and BDO Rewards Card holders can take extra 10% off during the first 2 hours at SM Department Store, Ace
Hardware, Our Home, Adidas, Surplus and Toy Kingdom on April 19. Get a chance to win 1 of 7 units of Ipad Mini (16gb WIFI + Cellular with free Globe Sim Card Power Surf P99) during the daily raffle draws at The SM Store. What’s more? Catch the hottest and trendiest male group in the country, the Chicser live on April 19, 5pm at the Las Ramblas Parking Area and participate in the Zumba Fitness Session on April 20, 6pm at the Ground Floor of the Carpark Building. Plus, witness the first ever Jazz Festival on April 20 and 21, 4pm at the Mastersons Avenue Parking Area. All these and more are happening only at SM City Cagayan de Oro on April 19 to 21!