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DA approves rubber plant nursery budget Volume III, No. 103
Editor : Cheng Ordoñez
By Rutchie Cabahug-Aguhob
J
IMENEZ, Misamis Occidental – The Department of Agriculture (DA), region 10, has recently approved the P320,000 budget for the rubber nursery project, here. This was announced by
Jimenez municipal agriculture officer (MAO) Rodrigo S. Simbajon, during a meeting of the Jimenez Rubber Growers Association Inc. at the Liga ng Barangay Hall See budget, page B3
Guv supports abaca industry in AgNor
Wednesday
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See2014 story on Page B1 12 September 24,
Foreign biz chambers eye more investments By TYRONE A. VELEZ
DAVAO City – Ten foreign chambers have expressed interest in putting up investments and linkages here in the region, with the European chamber batting for interest in agriculture and biotechnology. Many of the foreign chambers though were unable to attend the first Southern Mindanao Growth Corridor Investors Forum held at Marco Polo Hotel. The forum was jointly organized by the Mindanao offices of the American, Japanese and European chambers to drum up interest among foreign corporations to invest in Mindanao. Ebb Hinchliffe , executive director of the American Chamber of Commerce of (BERLIN, Germany) President Benigno S. Aquino III visits a Berlin train station Saturthe Philippines (AmCham), day, (September 20) as part of his European tour. Among the President’s delegation
BUTUAN City - Agusan supports the Abaca Fiber del Norte Governor Ma. Production and Trading Angelica “Angel” Rosedell Enhancement by the San M. Amante-Matba fully See supports, page B3 are PPP project investors. (Photo by Gil Nartea / Malacanang Photo Bureau)
See chambers, page B3
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B2 Mindanao Daily NEWS business . economy . corporate . banking
Economy
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PEZA eyeing investments from South Korea, Europe Your Mindanao-wide Community Newspaper
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hilippine Economic Zone Authority (PEZA) Director General Lilia de Lima will be visiting Seoul, South Korea this September and Northern and Central Europe in October to invite more investors in the country. De Lima told reporters that she will be meeting with Korean companies and visiting the automotive
hub in South Korea at the sidelines of her scheduled seminar in Seoul on September 25. She said PEZA will promote sectors of manufacturing and information technology (IT) in the Asian nation. By end-October, the PEZA chief will also be promoting sectors of manufacturing and IT along
with tourism and agriculture to Northern and Central Europe. De Lima said the Philippines continues to attract the interest of European companies with credit rating upgrades that the country received within the past few years. “They’re aware of our credit rating upgrades and last year we posted the
second highest growth in Asia,” she said. “We have to maintain this momentum.” She mentioned that Denmark has re-established its embassy in the country which signifies importance of the Philippines to the European country. Aside from Denmark, other Nordic countries like Sweden, Norway, and
DTI-MisOr releases GPBP funds for Gitagum town The Department of Trade and Industr y, Misamis Oriental Provincial Office, through Provincial Director Ma. Eliza A. Pabillore released last Friday, September 19, 2014, the amount of P620,000 for the implementation of the Grassroots Participatory Budgeting Process (GPBP) also known as BUB in the Municipality of Gitagum in Misamis Oriental.
Gitagum’s Municipal Treasurer Anilie Salvador and Municipal Budget Officer Herminia Katipunan, upon instruction from Mayor Rodolfo Buray, claimed the check from DTI Provincial Office. The said amount is intended for the conduct of skills and entrepreneurial training and product development initiatives in food processing, bamboo
decorative handicraft and bamboo furniture. For Food Processing, about 125 rural women will be taught how to make food products which could make them do home-based businesses. After which packaging and labelling semiriar will also be conducted for them to come up with competitive products. Likewise, for the skills
trainings and product development in the making of bamboo decorative handicraft and furniture, about 125 men will also be trained with the intention of giving them the opportunity to establish home-base enterprises, which can help them augment their family income or make them decide that entrepreneurship is the best way to make a living.
ECCP calls on private sector to join ESPhil By Mary Ann T. Bardinas European Chamber of Commerce of the Philippines (ECCP) Vice President and General Manager Martial Beck is inviting all companies to participate
in the upcoming Energy Smart Philippines (ESPhil) 2014 that will be held on September 30 and October 1 at the SMX Convention Center, Mall of Asia, Pasay City. ESPhil is an annual
two-day conference and exhibition that upholds the advancement of solutions and initiatives on energy efficiency, renewable energy, and clean technology to enhance the country’s sustainability and competitiveness. It also aims to assemble key decision-makers and business leaders from the energy, commercial, and industrial sectors to discuss how private sector and government can work together to ensure energy security, expand energy access, promote investment, and low-carbon future; and to build strategic alliances among business, government, international donor organizations, civil society, and other interested groups in the country in setting a common agenda on energy
security and low carbon future through clean energy technologies. During the press briefing that took place Saturday in Makati City, Beck imparted that the real message of the aforementioned event is to present through the exhibition and summit that the Philippines in on the right path in promoting renewable energy but can still do a lot more. “The renewable energy potential in the Philippines is fantastic, and we want to encourage technology providers, investors, [and] developers to come and converge at energy smart. Meet each other there and talk about how they can implement more projects,” he said. Among the topics that See calls, page B3
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Finland have 20 companies invested in PEZA, according to de Lima. De Lima said PEZA’s offshore investment promotions target to bring in investors in the supply chain of different industries for the country to have more competitive manufacturing sector. Meanwhile, January to August 2014 investment
pledges in PEZA increased by 22 percent to Php 135 billion against last year’s same period of Php111 billion. Exp or ts re venue in PEZA zones, likewise, perked up by 19 percent to USD4.51 billion versus last year’s USD3.8 billion. Employment generated in PEZA hit 1,108,367 jobs as of July 2014. (PNA)
RIPS at all-time high
The Revenue Integrity Protection Service (RIPS) has achieved its highest performance in its 11-year history. A marked improvement in 2014 with 85 investigations initiated over the eight-month period from January to August represents a 45 percent increase compared to the previous highest record of 58 attained in 2013. RIPS’ accomplishment in the Successful Decisions category also increased by 116 percent, where for the period of January to August 2014 it attained 13 favourable decisions compared to the previous record of 6 successful decisions set during the same period in 2011. Successful decisions refer to cases resolved in RIPS’ favor, usually resulting to suspensions, dismissals, penalties, and or criminal convictions. Out of the 13 resolutions, six of them imposed the penalty of dismissal from the service. This is a marked improvement from the period of 2003-2013, when the average dismissal from the service attained by RIPS was one dismissal per year. Department of Finance (DOF) Undersecretary Carlo A. Carag of the Revenue Operations and Legal Affairs Group said, “This is the best performance RIPS has registered in history. These are encouraging numbers as we continue to investigate and crack down on erring public
officials in our campaign to root out corruption and reform the government.” Ephyro Amatong, Chair of the DOF Regulatory Compliance and Anti-Corruption Cluster, welcomed the news, saying, “The measurable improvements by RIPS to date reflect the Aquino Administration’s continuing resolve to combat corruption. We will carry this fight for good governance to the very last stretches.” The DOF noted that the total number of cases filed against erring government officials, including Bureau of Customs (BOC) collectors, increased from only five cases in 2010 to 101 by June 2014. During the current administration, a total of 108 personalities have been charged at the Office of the Ombudsman (76) and at the Civil Service Commission (27), while five personalities were referred to the concerned agency for formal filing of charge. Notable RIPS cases include Paulino C. Elevado IV, a Porsche-driving BOC messenger found guilty of serious dishonesty, falsification of public documents, and dishonest declarations in his Statement of Assets, Liabilities, and Net Worth (SALN) by the Office of the Ombudsman. Spouses Marlon and Emma Pascual, former revenue officers in the Bureau of Internal Revenue (BIR), were dismissed for acquiring assets that are See rips, page B3
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RIPS..... from B2
disproportionate to their salaries, while another case involving former customs examiner Ana Marie Maglasang, who was convicted of five counts of perjury, saw RIPS’ first prison penalty in history. Launched in 2003, RIPS seeks to eliminate corruption in the Department of Finance and its attached agencies by investigating allegations of wrongdoing and filing cases with the appropriate government agencies. (PNA)
Calls.....
from B2 will also be tackled in the summit is the importance of energy efficiency in which the speakers will share their best practices of energy-saving and the concept of green technology which will be discussed by former Taguig City Mayor and GET founder Freddie Tiñga with the display of the Electric Jeepney. Another important portion of the aforementioned event is the International Finance Corporation (IFC) Awarding wherein companies, which are actually clients of their partner banks, will be given recognition for reinforcing efficient and renewable energy in their companies. IFC has been ECCP’s partner for several years now in advocating the promotion of energy efficiency, particularly in the business sector. Beck said that through this awarding, other entities can be persuaded to do similar
Chamber.....
from B1 made a pitch to investors to venture into the diverse fields of Southern Mindanao. “You have everything from plantations, farms, mining, coastlines, and marine life,” he said. Making connections Hinchliffe added that Davao would also serve as one of the gateways for investments in the soon to be created Bangsamoro entity. Hinchliffe’s enthusiasm was echoed by European Chamber of Commerce of the Philippines (ECCP) Vice President Martial Beck, who announced that the European Union has granted the establishment of the EUPhilippine business network, which he said would draw SMEs from United Kingdom, France, Germany, Italy, Spain, Belgium and Scandinavian countries to the Philippines. “Our thrust is to make connections,” Beck explained. He also said the chamber is planning to raise linkages between European and local academes for exchanges in technology. Beck’s main pitch for Euro-
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deed of applying renewable and efficient energy. He added that there will also be a wide array of technologies ranging from hydro power, biomass, biogas, solar power, and geothermal power to be shown to the participants. The ESPhil sees that pushing further the implementation of energy efficiency can avoid the high cost that the government is spending in terms of coal importation. (PNA)
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CEB’s Tigerair Philippines to add Clark, Roxas, Bohol to network
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at the municipal grounds. Already downloaded to the Jimenez Municipal Government Account, the money is intended to be used to put up a rubber nursery in the municipality. Part of the amount will be used to buy seeds, budded rubber seedlings for the bud wood garden, cellophane bagging and other things needed in producing rubber seedlings, Simbajon said. The activities of the rubber industry in Jimenez are jointly undertaken by the Department of Trade and Industry (DTI)Misamis Occidental and DAJimenez Local Government Unit (LGU). The DTI handles the rubber industry cluster as part of its National Industry Cluster Capability Enhancement Program (NICCEP) while DA handles it under its High Value Crops Development Program (HVCDP), Simbajon added. (MLC/RCA/PIA10-Misamis Occidental)
ebu P a c i f i c A i r, through its network made wider with Tigerair Philippines, adds three more domestic destinations to its network. It will launch direct flights from Manila to Clark, Roxas and Tagbilaran (Bohol) starting October 23, 2014. Tigerair Philippines will launch direct daily Manila-Clark flights, to accommodate guests who wish to take advantage of 30-minute flights to lessen travel time and maximize time spent on leisure and business. The flight departs Manila at 5:10pm and lands in Clark at 5:40pm. The return flight departs Clark at
11:20pm and lands in Manila at 11:50pm. Tigerair Philippines will also launch direct daily flights from Manila to Tagbilaran (Bohol) and Roxas, to make these tourist destinations more accessible. The airline’s Roxas service will depart Manila at 2pm and land in Roxas at 3:05pm. The return flight departs Roxas at 3:35pm and lands in Manila at 4:40pm. Meanwhile, Tigerair Philippines’ Tagbilaran (Bohol) service departs Manila at 6am and lands in Tagbilaran (Bohol) at 7:15am. The return flight departs 7:55am and lands
in Manila at 9:10am. These new flights will utilize an Airbus A320 aircraft. Lowest year-round fares to Clark star t at P148, to Roxas start at P1,138 and to Tagbilaran (Bohol) start at P1,598. For bookings and inquiries, please log on to www.cebupacificair.com or call our reser vation hotlines (02) 7020-888 or (032) 230-8888. Our latest seat sales can also be found on CEB’s official Twitter (@CebuPacificAir) and Facebook pages and on Tigerair Philippines’ official Twitter (@tigerairPH) and Facebook (tigerair philippines) pages. “Tigerair Philippines,
through its network made wider with Cebu Pacific, looks forward to offering additional flight and destination options for its guests,” said Atty. Leilani de Leon, Tigerair Philippines Chief L egal and Corporate Affairs. With the new routes, Tigerair Philippines offers over 240 weekly flights to one international and 13 domestic destinations: Hong Kong , B a c ol o d , Cagayan de Oro, Clark, C ebu, D avao, G eneral Santos, Iloi lo, Ka lib o, Manila, Roxas, Puerto Princesa, Tacloban and Tagbilaran. It utilizes a fleet of four Airbus A320 aircraft.
Supports.....
The PRDP is a poverty reduction project of the DA that aims to improve income and food security of the rural poor and indigenous communities in the Philippines. The province of Agusan del Norte is one of the 81 provinces in the country as recipient of the said project to be implemented from 2014-2020. Said project costs to P31,220,000.00 with funding counterpart distributed
as follows: Loan Proceeds (WB) - P16,905,600.00; Government of the Philippines (DA) - 4,635,200.00; Province of Agusan del Norte - 4,635,200.00; and the Proponent Group SIUFMULCO - P5,044,000.00. The 16th Sangguniang Panlalawigan headed by Vice Governor Ramon AG. Bungabong also supports the thrusts and programs of Gov. Angel. To expedite the imple-
mentation of the Abaca Fiber Production and Trading Enhancement, the Sangguniang Panlalawigan recently authorized Gov. Angel to sign the Memorandum of Agreement (MOA) of the said project with the DA, represented by Secretary Proceso J. Alcala, to set the conditions, duties and responsibilities of the concerned parties. (LGU-Agusan del Norte/PIA-Agusan del Norte)
pean companies is investments in biotechnology in agriculture. In a previous press conference, he expressed interest to develop coco-water as a natural health drink. “Let’s go to the future in biotechnology,” he said. The ECCP has around 700 members with 20 of them investing in Davao Region. Agribusiness, ICT Japanese Embassy First Secretar Ryutaro Aoki pointed out Japan’s long relations with Mindanao, and boasted Mindanao as the source of 90 percent of banana and pineapple imports into Japan. Japan’s main investment in agribusiness is the Sumifru plantation which covers more than 11,000 hectares in the island, including Compostela Valley, Davao del Norte and Bukidnon. Aoki noted that Mindanao has a strong youth market for their investments, as he also noted Davao region’s abundant mineral resources have enticed Japanese mining firms to come to the region. Canadian Chamber of Commerce of the Philippines (CanCham) President Julian Payne said while their focus is on advocacy for mining, he
would be pitching for investments in information technology (ICT) and business process outsourcing (BPOs), two of the top performing sectors in the region’s economy. Payne said CanCham has 275 members with 28 of them investing in Davao region. CanCham and ECCP also expressed interests to promote tourism, including the region’s coastal lines. Other chambers who expressed interest include New Zealand, Finland, Australia and the Federation of Foreign Chambers of the Philippines. Event organizers said the heads of these chambers failed to arrive in Davao as flights were cancelled due to Typhoon Mario. Horizontal growth But their absence did not douse the enthusiasm of AmCham Davao President Philip Dizon, who sees the commitments from the chambers could spur the SMGC forum to meet once or twice a year. Dizon, one of the leading businessman in the region’s agribusiness and eco-tourism, said the forum’s objective is to spur investments and growth horizontallyy to various cities
in Southern Mindanao from General Santos City in neighboring Socsksargen region up to Mati, Davao Oriental. “We can’t put all in Davao. General Santos have the ports so investments can go there,” Dizon said He also stressed the region must expand beyond the agribusiness sector. One of his pitch is to draw investments into Philippine economic zone authority (PEZA) areas such as Hijo Estates and Anflocor in Tagum City, which offer port and transport facilities, and the Ciudades businessindustrial-residential estate in Davao City. Davao’s performance The Mindanao Development Authority (MinDA) identified Southern Mindanao region and parts of Socsksargen
region as Food, Agribusiness and Logistics Corridor with focus on agribusiness and mining. The institution also said this cluster contributed 53% of Mindanao’s gross value in trade last year. Exports coming from Davao region also reported an increased by 31% in 2013 amounting to $ 1.99 billion, with the banana exports topping the exports with an amount of $877.1 million. The SMGC is created by a joint agreement of the AmCham, ECCP and the Japan Chamber of Commerce in Mindanao to spur more invest-
ments into Mindanao. The growth corridor is also part of the Davao Regional Development Plan (2014-2016) of the National Economic and Development Authority (NEDA), where its industrial road map focuses on the development of agro-processing industries and manufacturing sector. The concept of the growth corridor was met with skepticism from think-tank Ibon Foundation, citing that experiences in other regions showed that foreign-led investments had not generate sustained growth and employment. (davaotoday.com)
Budget..... from B1
from B1
Isidro Upland Farmer MultiPurpose Cooperative (SIUFMULCO) in Barangay San Isidro, municipality of Santiago. The said project was identified and passed the criteria set by the Philippine Rural Development Project (PRDP) under the Department of Agriculture (DA) project.
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B4 Mindanao Daily NEWS business . economy . corporate . banking Your Mindanao-wide Community Newspaper
Banking
PSBank introduces ‘LiveChat’ in local banking industry
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SBank introduces “LiveChat”, which enables existing and potential clients from here and abroad to interact with its customer service assistants regarding inquiries on their deposits, loans, trust products, and other banking concerns. It can be accessed through www. psbank.com.ph. “We are very excited to announce that we have added another dimension in addressing our clients’
EastWest continues aggressive expansion; targets 400 branches
EastWest recently announced that it has opened five new branches. In Quezon City, these are Kamuning, E. Rodriguez-Welcome Rotonda and Xavierville branches. Outside Metro Manila, these are BalayanBatangas and Tabaco City-Albay branches. The branch openings bring EastWest’s total network to 391 branches spanning both unibank and rural bank. EastWest expects to close the year with a total of at least 400 branches nationwide including those of EastWest Rural Bank. “We have grown more than threefold since 2011, which shows the bank’s strong commitment to be a relevant player in the local banking industry. Through our expanded network, we will be able to serve more banking publics and make banking convenient and accessible for them through more points of transaction, traditional or alternative channels, and whether it’s for their personal financial needs or for their business requirements,” said EastWest Senior Executive Vice President and Head of Retail Banking and Operations Cluster Gerry Susmerano. EastWest is the 10th largest private domestic bank in terms of assets. It is also the fifth largest financial institution in terms of credit card receivables and one of the biggest in auto financing. (PNA)
inquiries and concerns beyond emails and phone calls -- through online chat. This gives our technologically-savvy clients another option in getting instant answers to their banking questions real-time at their most convenient schedule,” said PSBank Marketing Group Head/Senior Vice President Noel Tuazon. PSBank LiveChat provides users with a unique six-digit cas e numb er to allow customer ser-
vice assistants to follow through clients’ concerns. This eliminates the need for lengthy follow-ups or clients having to repeat the same information on their next chat. With this new facility, PSBank LiveChat users do not have to undergo a lengthy registration process, exchange formal emails with the Bank, or travel to their home branch. Customers abroad will also find LiveChat as an
affordable alternative to expensive phone calls. “PSBank not only equates customer care with timely responses to inquiries. We also strive to give our clients friendly and genuine advice to help them make sound financial decisions through PSBank LiveChat. This enables us to reinforce our commitment to provide simple and reliable banking service to all our clients, 24/7,” added Tuazon. (PNA)
BSP reports 20% up in reg’l bank deposits in E. Visayas TACLOBAN City - Eastern Visayas posted a record high bank deposit in 2013 at Php 58.78 billion or 20 percent up than a year ago, driven by high remittances and post-Yolanda financial aid from international humanitarian organizations. Last year’s total bank deposit in the region is a big increase from the Php48.84 billion recorded in 2012, the Bangko Sentral ng Pilipinas (BSP) said in its recent report. Bankers attributed the growth to high remittances and pouring out of funds from the humanitarian relief organizations after super typhoon Yolanda struck the region in November 2013. “Bank deposits grew because a lot of cash have been coming to help the victims. Many people opened new accounts and those with existing accounts had put in more funds in banks,”
Francisco Barredo, Bank of the Philippine Island Tacloban branch manager and president of Tacloban Bankers Club said. Deposit liabilities refer to money placed by an individual or corporation into a banking institution for safekeeping. “Much of the deposit was driven by income of corporations and individuals,” said Fernando Y. Silvoza, BSP Department of Economic Statistics deputy director, in a recent visit here. The record-high increase in total deposits is paralleled with the region’s 5.7 percent economic growth last year. “Number of operating banks in Region 8 also increased to 161 in 2013 from 150 a year ago,” Silvoza added. Total accounts were pegged at 673,685 in 2012 or a 2.6 percent growth
from the 691,426 last year. All provinces also posted significant growth in both accounts and deposits. Data from the Philippine Deposit Insurance Corporation (PDIC) showed that of the total P58.78 billion deposit portfolios, P38.11 billion were in Leyte, Php6.34 billion in Samar, P5.89 billion in Southern Leyte, P4.17 billion in Northern Samar, Php2.83 billion in Eastern Samar, and Php1.41 billion in Biliran. Tacloban City, the region’s capital city with 39 operating banks, recorded deposit liabilities of Php2.42 billion maintained by 231,740 accounts. “The impact of super typhoon Yolanda to the banking sector would be minimal because of the pouring in of funds for reconstruction from the national government and non-government organizations,” Silvoza said. (PNA)
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China’s third biggest bank in relation to assets Agricultural Bank of China (ABC) launched here on Sunday the listing of one billion Renminbi (163 million U.S. dollars) Emirates bond on the NASDAQ Dubai, marking the first Chinese fixed income bond at an Arab stock market. The listing of the bond was celebrated when the opening bell rang at the NASDAQ Dubai at 10 a.m. local time in the presence of China’s General Consul in Dubai Tang Weibin, ABC Dubai Branch Senior Executive Officer Min Fang, Governor of the Dubai International Financial Center (DIFC) Essa Kazim, Chairman of NASDAQ Dubai Wahed AlFahim, NASDAQ Dubai Chief
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ABC lists USD163 million bond at NASDAQ Dubai Abu Dhabi and Abu Dhabi Commercial Bank invested in the bond. Kazim welcomed the ABC bond listing, saying the economic and financial ties between China and the Middle East expand rapidly, “ Dubai is well placed to facilitate broadening and deepening of this important relationship.” NASDAQ Dubai, the only international stock exchange in MENA, is also the region’s biggest platform for bond listings. The market is a licensed entity within Dubai’s financial free zone DIFC, which celebrated its 10 years existence in fall. ABC bank has been licensed in the DIFC since Feb. 2013. (PNA/Xinhua)
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Executive Hamed Ali. The one billion Renminbi three-year Emirates bond has a coupon rate of 3.5 percent. The bond is part of ABC’s global mid-term bond plan, becoming the first Chinese institution issuing bonds in Middle East and North Africa (MENA). Min Fang said the listing was an important step in ABC’s strategy of global expansion. “We intend to further build the presence of the Chinese currency across MENA from our base in Dubai,” said Min. He praised NASDAQ Dubai as the ideal to promote visibility with investors. Traders told Xinhua that several local Emirate banks like National Bank of
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