BusinessWeek Mindanao (April 12-13, 2021)

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Volume XI, No. 127

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Veggie prices PRICES of vegetables have dropped significantly while prices of non-agricultural products remain stable, chiefs of the Department of Agriculture (DA) and the Department of Trade and Industry (DTI) said.

“Our (vegetable) prices are significantly lower at an average of 50 percent, much lower compared to February,” DA Secretary William Dar said in an online press briefing Wednesday.

Dar said since it is already in season, the supply of vegetables is abundant and prices are low.

IN-DEPTH

Mon-Tue|April 12-13, 2021

P15.00

Probe sought on forced outages of power plants T

By MYRNA M. VELASCO, Contributor

HE ‘bad summer habits’ of power plants are back again, hence, the Department of Energy (DOE) and Energy Regulatory Commission (ERC) are being urged to investigate the causes of the simultaneous forced outages of the generating facilities as these have been triggering spikes in electricity rates passed on to consumers.

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“There are too many power plants going on outages and these generation companies and power plant owners have to be held accountable and monitored by the DOE or even the ERC,” Laban Konsyumer Inc. President Victorio Dimagiba has stated.

He emphasized their group has already called for a probe of such new wave of power plant outages, “but PROBE/PAGE 6

LDS postpones resumption of ‘No Movement Sunday’

By RICHEL V. UMEL, MindaNews

Macro support AN International Monetary Fund (IMF) executive has underscored the importance of strengthening coronavirus disease 2019 (Covid-19) containment measures in the Philippines and ensuring macroeconomic support to address the pandemic’s impact on the economy.

This, after the multilateral lender hiked its 2021 growth projection for the country to 6.9 percent based on the updated World Economic Outlook (WEO) Update released Tuesday night (Philippine time) from 6.6 percent in the WEO issued last January.

But IMF Resident Representative to the Philippines Yongzheng Yang said the lender kept its 6.5-percent gross domestic product (GDP) forecast for the country for 2022.

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Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

FLOODED STREET. A heavy downpour on Saturday night, caused flash floods in various parts of Davao City. Ponce Street also got flooded but the waters were higher elsewhere, forcing residents to evacuate. photo by beatriz de vera

LGUs urged to align contact tracing apps under 'Stay Safe' THE Department of Interior and Local Government in Region 10 (DILG) called on local government units (LGUs) Thursday to align their contact tracing applications to StaySafe.Ph to strengthen the coronavirus disease (Covid-19) detection in the region.

DILG-10 Director Arnel Agabe said the alignment would enable agencies under the Inter-Agency Task Force (IATF) to gain real-time data and improve the national government's database on Covid-19 cases.

IATF tasked the DILG to

ILIGAN City – The province of Lanao del Sur has postponed to April 18 the resumption of its “No Movement Sunday” policy to give chance to the people to welcome and prepare for the Holy Month of Ramadhan, which is expected to start on April 13.

L an a o d e l Su r f i rs t started implementing the No Movement Sunday September last year as part of its campaign against COVID-19 but lifted it last January, according to

provincial information officer Jenny Tamano.

It was supposed to resume this Sunday, April 11, but the Lanao del Sur Inter-Agency Task Force, in a resolution dated April 8, noted the need to prepare for the Ramadhan and to allow the people to participate in the “moon sighting activity” starting April 11.

The provincial IATF noted in its resolution that on April 2, the province recorded 22 POSTPONES/PAGE 6

implement the StaySafe.Ph contact tracing system when it was launched last year. The mobile application is meant to be the default application for all Filipinos, especially when traveling.

However, Agabe said that if local governments have already created a system, such as Cagayan de Oro City with its own Higala App QR Code, data can be streamlined in coordination with the DILG. Agabe said a unified contact tracing application would make it easier for government authorities HARD LIFE. Farmers, on their horses, head back home after a day's work in APPS/PAGE 6 Baleteon, Brgy. Dalwangan in Malaybalay City. mindanews photo by h. marcos c. mordeno

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Local

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MON-TUE|APRIL 12-13, 2021

Book backing claims Butuan as site of 1st mass launched

B

UTUAN City – A book backing claims that this city was the site of the first Catholic mass in the country launched Wednesday afternoon at the Balanghai Hotel here.

The book “Beyond the Pale: Limasawa Hoax, A Tragedy in Philippine History” is authored by Dr. Potenciano R. Malvar.

Malvar is a local historian and a long-time advocate in recognizing Butuan City as the site where the first Easter Sunday mass in the country was celebrated in 1521.

Representatives from various sectors, including the religious, academe, and the business community, graced the launch.

In his message, Malvar acknowledged the support of advocates working to have Butuan officially recognized by the national government as the site of the historic religious rite in 1521.

“This humble work is dedicated to you as we continue our advocacy and dedicated works,” he said.

In March, Malvar filed criminal complaints against the members of the Mojares Panel, a group designated by the government last year to finally put to rest the issue surrounding the first Catholic mass.

The panel, led by Dr. Resil B. Mojares, recommended that the National Historical Commission of the

Philippines (NHCP) sustain previous conclusions indicating that the first Catholic mass in the country was celebrated in Limasawa Island in Southern Leyte in 1521.

In July last year,

the NHCP adopted the recommendation of the Mojares panel.

Catholic priest Fr. Joesilo C. Amalla, also an advocate to recognize Butuan as the site of the first mass, graced

Wednesday's book launch.

“I am glad about the dedication of Dr. Malvar.

This book will help strengthen our advocacy,” Amalla told Philippine News Agency on Thursday.

The book mentions the

life of Ferdinand Magellan, especially on his travels in the 1500s, as recorded by Antonio Pigafetta.

Pigafetta was a 30-yearold Italian scholar who joined the expedition of BUTUAN/PAGE 7

DAR-10 opens Cadayunan-Maganding-Madaya FMR in Munai

By CLAIRE GIGJE

TUBOD, Lanao del Norte--Looking forward for a better road network connecting far-flung farms The Department of Agrarian Reform-10 and its stakeholders in the province and the pass a symbolic key to the recipients of the fully constructed nearest major vicinity for Cadayunan-Maganding-Madaya Farm-to-Market Road trade and business, the in Munai, Lanao del Norte conveying its formal opening Department of Agrarian for public use. (PIA-ICIC) Reform-10 finally opened for public use the Cadayunan-MagandingMadaya Farm-to-Market Road in the municipality of Munai.

The 7.92-km road BALINGASAG, MISAMIS ORIENTAL DIVISORIA, CDO implemented by the National Highway Balingasag, Barangay 4, Balingasag, A. Velez St., Barangay 9, Cagayan de Oro City, Misamis Oriental Misamis Oriental Telefax No. (088) 856-1947 Department of Public Mobile Number/s: 0933-823-3161, 0933-823-3304 Mobile No. 0917-841-4000 / 0933-823-3164 Tel. Number: 333-5161 Works and Highways-10 GINGOOG CITY CAGAYAN DE ORO G/F Wyne Militante Bldg., Lugod St., Barangay 22, Gingoog (DPWH-10) alongside P&J Lim Building, Tiano Kalambagohan St., Barangay 14, City, Misamis Oriental Cagayan de Oro City, Misamis Oriental Telefax No. (088) 861-0104 Tel No. (08822) 727-829 / 231-6629 Mobile No. 0933-823-3168 the Japan International Telefax No. (088) 856-1947 Mobile No. 0933-823-3303 / 0943-708-7065 LAPASAN, CDO Cooperation Agency National Highway (FICCO Bldg.), Lapasan, Cagayan de Oro CAGAYAN DE ORO WAREHOUSE City, Misamis Oriental (JICA) bears a project Warehouse 7, Bonbon Road, Kauswagan, Cagayan de Oro Tel. No. (088) 231-6739 City, Misamis Oriental Mobile No. 0933-823-3160 Mobile No. 0917-825-4149 / 0943-708-7065 cost of Php49.76 million PUERTO, CDO CARMEN, CAGAYAN DE ORO Purok 6, Puerto, Cagayan de Oro City, Misamis Oriental and is expected to bring Vamenta Blvd., fronting CEPALCO, Carmen, Cagayan de Tel. No. (088) 859-0574 Oro City, Misamis Oriental Mobile No. 0943-708-7537 advantage to three Tel. No. (088) 233-2011 Mobile No. 0933-823-3159 CAMIGUIN B. Aranas St., Poblacion, Mambajao, Camiguin barangays of the said CORRALES, CDO Telefax No. (088) 387-0491 Corrales Ave., Barangay 29, Cagayan de Oro City, Misamis Mobile No. 0943-708-7539 municipality, to wit, Oriental Telefax No. (088) 231-2055 Cadayunan, Maganding

and Madaya, and some sitios of the neighboring municipalities including Bacolod and Maigo.

“Its construction aims to reduce the average travel time from farms to market, increase traffic count in the areas mentioned, reduce input and output hauling cost and reduce post-harvest losses of agricultural products,” said Engr.

Soray’yah Ibrahim, the District Engineer of DPWH-10 Lanao del Norte 1st District Engineering Office.

“Not only it will contribute significantly to the province’s agricultural sector but also aids households in their routines and emergencies by shortening travel time and ultimately saving lives,” she added.

DAR-10 Regional Director Zoraida Macadindang reminded the local government officials of the recipient communities to be responsible enough in overseeing the given project.

“My challenge to the LGU, particularly the mayors and the barangay captains, is to take care as a good father of the family kanang mga project nga atong giturnover kay seldom ra gyud na siya mahitabo [those projects which we turned over because this just seldom happens],” she stressed.

Additionally, Provincial Vice Governor Maria Cristina Atay reiterated that while the beneficiaries benefit from the granted government initiative, they also have a great responsibility to foster it well.

Meanwhile, beneficiaries of the FMR project extended their utmost gratitude to DAR10 and its stakeholders for bringing proper road networking to their farm area and the nearby market.

“Nalipay ko nga kining project nahatag sa among barangay, sa Munai. Baynte sais ko ka tuig na barangay OPENS/PAGE 7

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MON-TUE|APRIL 12-13, 2021

Cebu Pacific’s refunds payable hit P1.43-B in 2020 BUDGET CARRIER Cebu Pacific said its customer refunds payable reached P1.43 billion last year due to a surge in refund requests amid a public health crisis.

Cebu Air, Inc., the listed operator of the low-cost carrier, said in its annual report released on Thursday that it saw a “1,938.7% increase” in its refunds payable last year “due to a surge in refund requests with the increase in flight cancelations brought about by the COVID -19 (coronavirus disease 2019) outbreak.”

Its refunds payable last year totaled P1.43 billion, a significant increase from the previous year’s P70.17 million.

“In light of the significant increase in flight cancelations due to the COVID-19 outbreak and consequent to the grounding of the group’s commercial operations, customers were given options for their canceled flights which included, among others, conversion to a full travel fund which is a virtual wallet equivalent to the amount paid for an existing booking.

3 Electronic goods boost PH importation growth in Feb. T

CorporateWorld

A travel fund is valid for two years and can be used as payment for future bookings,” the budget carrier said.

Cebu Pacific has said processing of refunds could take up to seven months due to the high volume of requests.

It reported a net loss of P22.2 billion, owing primarily to the effect of the pandemic on its operations.

Cebu Air’s revenues for 2020 dropped 73% to P22.6 billion. Cargo business contributed P5.4 billion or 24% of the total.

The number of passengers it carried last year dropped 78% to five million, while the number of flights was 71% lower at 41,804.

It closed the year with P20.77-billion operating loss and negative EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) of P932 million.

Cebu Air said it expects a slow recovery from the crisis due to the losses it has suffered.

“The group remains in a strong balance sheet REFUNDS/PAGE 7

HE Philippines ' total external trade in goods grew at an annual rate of 0.6 percent, or about $12.191 billion, in February 2021.

Of the total external trade in February 2021, 58.9 percent were imported goods, while the rest were exported goods, data from the Philippine Statistics Authority (PSA) released on Thursday stated.

Compared to the previous month, the annual decrease was recorded at -9.4 percent while in February 2020, the decline was slower at -3.1 percent.

Electronic products accounted for the highest import value among commodity groups, with an import value of $2.12 billion or a share of 27.9 percent of total imports in February, PSA data showed.

This was followed by transport

equipment, valued at $759.29 million (10.0 percent); and mineral fuels, lubricants, and related materials which amounted to $692.46 million (9.1 percent).

By major type of goods, imports of raw materials and intermediate goods accounted for the largest share at $2.97 billion (39.0 percent) of the total imports in February.

Imports of capital goods ranked second with a share of $2.56 billion (33.6 percent), followed by consumer goods with $1.32 billion (17.3 percent).

The increase has been predicted by the United Nations Economic and Social Commission for Asia and the Pacific (Unescap) in its Asia-Pacific Trade and Investment Trends report on merchandise trade in December 2020.

Unescap estimated that the country’s exports and imports will reach a high of 15.8 percent and 24.3 percent in 2021, respectively.

It said the Philippines can boost its investments in Information and communications technology to leverage the trading of services, citing reports that 84 percent of enterprises increased their ICT budgets in 2020, as against 66 percent in the previous year.

Sales from exports, however, posted negative growth.

Total export sales in February 2021, amounting to USD5.31 billion, contracted at an annual rate of -2.3 percent, from an annual decrease of -4.8 percent in the previous month.

In February 2020, total export sales rose at a rate of 3.4 percent annually. (PNA)

Jollibee further expands in Europe with 8 more stores WITH 70 percent of its customers in its latest UK stores now being locals, homegrown restaurant brand Jollibee is further expanding its reach to local European customers by growing to 50 stores in that continent in the next five years.

This year, the restaurant chain will open its Europe flagship location in Leicester Square, London. This will

be followed by seven other store openings, including its first stores in Scotland in Edinburgh, its first in Wales in Cardiff, and its first in Spain in Madrid.

This came on the heels of its successful Rome, Liverpool, and Leicester City openings in 2020, which opened to much fanfare despite the pandemic.

“The Jollibee Group is dedicated to growing

the Jollibee brand in the UK and across Europe.

Investing 50 million euros demonstrates our commitment to become a major player in the European quick-service industry,” Dennis Flores, Jollibee Group regional business head for Europe, Middle East, Asia, and Australia. “The pandemic may have been a setback, but it will not deter us from pursuing our vision

for Jollibee in the UK and the rest of Europe.”

Jollibee’s new stores in Europe have been designed to adapt to changes brought about by the pandemic by including contactless kiosks for speed and safety, and pick-up settings to make take-outs even more convenient.

Jollibee has introduced multiple new menu items EXPANDS/PAGE 7

4

Opinion

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BUSINESSWEEK MINDANAO CORPORATION Publisher DANTE M. SUDARIA President/CEO ALLAN MARIO MEDIANTE Vice President for Corporate Affairs RUFINO T. MAGBANUA Vice President for Business Development VICENTE C. DELA VICTORIA Vice President for Operations JOE FELICILDA Vice President for Administration JOE PALABAO Vice President for Marketing ROSE MARY D. SUDARIA, PhD Vice President for Finance MIKE BAÑOS Vice President for Digital

NELSON CONSTANTINO Editor-in-Chief

MIKE BAÑOS

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Motoring Editor

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Feature Editor

2f, ICS Building Tel.No.: 881-0176 Tiano cor. Montalvan sts.

Legal Counsel

CLIFFORD SANTILLAN

Since the pandemic hit us, many people have changed.

From d e pre ss i on u nt i l aggression and indifference.

Actually "Relationship" comes from the Latin "referre" or "relatum", which means "to bring back". Some might say: That's of no importance to me. That doesn't worry me at all. There is even no need to worry about it.

Yes, sometimes, we wish people around us weren't so thoughtless.

In one of my penultimate columns I tried to explain, "when to keep our mouth shut"! Silence is also an answer - sure! But some of my readers posed the question, if also broken relationships can be only restored by silence or waiting. My answer is YES and/or NO! Sometimes it's a wonder, w h at a s m a l l d o s e o f determined silence can do.

Relationships are ALWAYS worth restoring, because

SPEAKING OUT

Juni Law Office Cruz Taal St., CDO Legal Counsel

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Member: Philippine Press Institute Oro Chamber

Open-door policy Think a minute… This is a true story about a 19-yearold girl who rebelled against her parents and ran away from home. Soon she found out that life was not easy on her own. She could not find a job, and her friends grew tired of her living off them so they kicked her out. She finally became so desperate she started making money by working on the street as a prostitute.

Years passed. Her father died. Her mother grew older.

All the while the daughter’s life grew even worse. But she still would not write or go home to see her mother.

One day the mother heard that her daughter had been seen in a certain part of town, so she went looking for her.

The mother went to every cheap hotel asking to put a picture on their walls. It was a picture of herself, now an old, gray-haired mother.

Beside her picture she wrote: “I still love you! Please come home!”

Months went by and nothing happened. Then one day the daughter, who was now extremely skinny and sick, could not believe

THINK A MINUTE

life is all about learning how to love and how to value relationships and make the effort to maintain them instead of discarding them whenever there is a rift, a hurt, or a conflict.

The bible told us that all of us have been given the ministry of restoring broken relationships.

Broken or cooled down relationships can be noticed at any corner. Restoring them is equal to peacemaking or peacekeeping but also not avoiding facing conflicts.

Running away from a problem (and then keeping the mouth shut!), pretending that the problem doesn't exist or being too afraid to talk about it, that's how the hypocritical coward acts. Some people love to downplay everything: Things aren't too bad - they could be worse!

I always love to talk to God before I talk to a person. Later, I can find the

right moment and take the initiative to restore broken relationships or face the problem. I can even look out for others' interests first.

I can use "my telescope of life" (from the Greek word "skopos") and play close attention. I can start with sympathy but not with great solutions right away. I can confess my part of a possible conflict.

Paul said in Romans 12:18: "Do everything possible on your part to live in peace with everybody!" In resolving conflicts, a word not to be spoken may be the choicest word of all, or IF WE TALK, HOW we say it, is important.

The US-author Rick Warren confessed in one of his books; "We can establish a relationship even when we are unable to resolve our differences. Christians often have legitimate, honest disagreements and differing opinions. But, we can disagree

HAVE MY SAY

KLAUS DORING without being disagreeable.

The same diamond looks different from different angles. God expects unity, not uniformity, and, we can walk arm-in-arm without seeing eye-to-eye on every issue!" +++ Email: doringklaus@gmail. com or follow me on Facebook, Linkedin or Twitter or visit www.germanexpatinthephilippines.blogspot.com or www. klausdoringsclassicalmusic. blogspot.com.

Bataan - A tale of two heroes

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MON-TUE|APRIL 12-13, 2021

Why do so many relationships break down?

ATTY. MARIO T. JUNI

Layout Artist

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IGNACIO BUNYE Sgt. Jose Calugas, a native of Iloilo, was a member of the Philippine Scout. Although Calugas had training in artillery, on that fateful day of January 16, 1942, Calugas was assigned on KP or “kitchen patrol”. He was the cook for the day.

When the fighting started, an adjoining battery position was silenced by enemy fire killing or wounding all the artillery men. The cook set aside pots and pans and ran

1,000 yards under heavy fire to the embattled gun position.

There, Calugas organized a volunteer squad which placed the gun back in commission and fired effectively against the enemy. When the fighting stopped, Calugas, seemingly unmindful of what he had just done, simply went back to kitchen duty.

Calugas became the first and only Filipino to receive the U.S. Medal of Honor for gallantry in Bataan.

Another soldier in Bataan performed even more Rambolike feats which earned him 33 (!) medals, including the Philippine Medal of Valor. But that’s only according to his biographer Hartzell Spence.

Spence was hired by then Senator Ferdinand Marcos, who was running for President, to write about his war exploits. Spence produced “For Every Tear,

A Victory” which was also made into a film “Iginuhit sa Tadhana”. The film, which starred popular movie personalities Luis Gonzalez as Marcos and Gloria Romero as Imelda Marcos, is partly credited for Marcos’ victory in 1965.

Apparently, Spence just wrote word for word what had been dictated to him.

He described an almost invincible soldier who kept fighting despite being wounded several times.

“-In January 7, 1942 he was “struck in the left kneecap by shrapnel. He was out of commission for several days but refused to go to a hospital.

“-In January 12, 1942, sniper fire in the right thigh…..bullet grating on his thigh bone….he cut out the bullet with his knife….again he refused to be hospitalized.

“-In January 22, 1942 he

was captured and tortured… but escaped.

“-Then one more wound….by shrapnel and sniper fire in the abdomen…”

The more discerning reader just could not believe it. With all those serious wounds, how could Marcos have survived the Death March where more ablebodied soldiers fell on the wayside?

Pre-martial law, future national artist for literature Nick Joaquin debunked Spence’ work as “mostly hocus-pocus”. Because of this remark, Joaquin was blacklisted in Malacañan functions.

Joaquin was lucky. Had he made that remark during martial law, he would have ended up in jail or worse.

In 1982, Jose Burgos Jr. published in We Forum, an HEROES/PAGE 7

New BPO in Tagbilaran

JHAN TIAFAU HURST her eyes when she saw her mother’s picture on the wall of that dirty, cheap hotel! As she read her mother’s message to her she began to cry.

That night she started walking the many miles back to her home. It was early in the morning when she finally arrived at her mother’s house and knocked on the door. To her surprise, the door was open! Afraid that someone had broken into the house, she ran inside and woke up her sleeping mother to tell her she had finally come home. Mother and daughter cried as they hugged each other. The daughter said: “I thought someone had broken the door open!” The mother POLICY/PAGE 7

Despite the pandemic, new jobs will be available to the Tagbilaranonsas a new business process outsourcing (BPO) company opened in Tagbilaran City. Mayor John Geesnell “BABA” Yap confirmed TaskUs has started their operation in Tagbilaran. The entry of this innovative BPO is timely to help jumpstart the local economy that has been affected by the lockdowns and other restrictions due to the pandemic. “Some of our residents had lost their jobs due to the pandemic. We are indeed elated that industries expressed their interest in investing in the city. This will revitalize the local economy,” said Yap. TaskUs 47,400 square foot site offers extraordinary recreation areas with vibrant color schemes as shown by an indoor basketball court in the photo, a gym, ample space for mindfulness and relaxation, collaborative spaces, and fun zones including an indoor slide. To celebrate the

milestone event, TaskUsheld a virtual concert which featured Filipino-Australian actor and singer James Reid. The digital event was streamed via TaskUs’s social media accounts. Ten lucky TaskUs teammates and applicants were given the chance to meet and greet James Reid virtually after the concert.

Already operating in technology hubs globally, including the United States, European Union, Taiwan, India, and eight other cities in the Philippines, the new TaskUs site expansion in Bohol indicates the island’s significant growth in technology, innovation, and human talent.

“We’re thrilled to expand our footprint within the Philippines where we already have many TaskUs teammates and an established company culture,” said Chin Monsale, TaskUs VP of Operations for Bohol. “Bohol is an exciting new talent market for us, and we’re looking forward to welcoming the new members of the TaskUs

team.”

The Bohol site will begin 100% work-from-home using Cirrus, TaskUs’s remote work model. Teammates from Bohol will begin their journey at TaskUs from the safety and comfort of their homes as a new workplace will soon be established to support in-person work. TaskUs goes to where the talent is, and Bohol’s promising pool makes it the ideal place for the company to make its mark in Visayas. By opening its newest site in Tagbilaran, the company is poised to invigorate local talent development and bring economic growth to the countryside. This move encourages the return of Bolanons to the region brought about by the increased access to economic opportunities.

TaskUs is an industry leader when it comes to employee benefits. Among others, teammates have access to one-on-one meetings with in-house life coaches and 24/7 psychological and psychiatric

NUTS & BOLTS

JEROME DE LA FUENTE

services via teleconsultation— which are free. And the system for teleconsultations is being expanded to reach teammates globally. Monsale continued, “This expansion comes on the heels of other offices opening worldwide, from Cali, Colombia to Harlingen, Texas. New Bohol teammates will experience a new onboarding and hiring process that we’ve adjusted to meet the challenges of COVID-19, while maintaining the underlying supportive atmosphere TaskUs is known for.”

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MON-TUE|APRIL 12-13, 2021

5

Banking&Finance

Hike in ATM deployment seen amid acquirer-based fee charging

M

ONETARY authorities are optimistic that banks will be encouraged to deploy more automated teller machines (ATMs) after the latter were allowed some leeway on fees instead of just having a

fixed share on the fees.

Under the acquirerbased fee charging (ABFC), which took effect on Wednesday, ATM owners, which are normally the banks, set the fees they want to charge cardholders of other banks who use their machines.

However, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said ATM transactions using the machines of cardholders’ banks remain free of charge.

“By allowing ATM owners to set the fee, they

THE ESSENCE OF ‘LUGAW’ Writer: FLORAMIE GUDMALIN- RAMOS Teacher of FS Catanico Elementary School, CDO

“Man cannot live by bread alone”.

This could be a better line to draw a frontliner woman who barred the ‘Lugaw’ carried by a food grab rider, Marvin Ignacio from San Jose, Bulacan on March 31, 2021.

This happened in the heat of restoring the ECQ in most areas of Luzon due to the sudden rise again of Covid- 19 cases with the fear on the anticipation of the third strike of Covid- 19 which is believed to be worst than the first cause of this pandemic that brought the New Normal way of living where there is a big sudden change that all of us were encouraged to embrace the situation, to be vigilant of what is happening in our surrounding and to obey the health safety protocols ordered by our government.

The interception of the woman who is also a Tanod gained negative feedbacks from netizens as the situation gone viral as how could she confidently said that ‘lugaw’ is not an essential food as she was quoted saying . “Hindi mamatay ang tao kung hindi makakain ng lugaw maghapon, sana open yan si Bakery.”

It seemed so unbelievable that a frontliner, a woman had said that ‘Lugaw’ is not essential and she had also shamed a man whose intention is doing a decent job so that he may have something to bring his family while combating the challenges posed by this New Normal wherein working face to face is no longer allowed and which left numbers of people jobless and made them think harder of different ways just to survive this crisis that all of us have been affected.

Even DILG Epimaco Densing III got his share of bashes as his comment w e nt t r e n d i n g w h e n he commented on the difference of “ Si Lugaw” at “Ang Lugaw”. It is just so disappointing when people are making big deals over this petty topics while there are more important and controversial issues that need to be resolved because

the health of everybody is at stake as we are uncertain over the effects of these COVID-19 injections once injected.

“Lugaw” is a Filipino word understood by most people in the Philippines. We call it “Porridge” in English. As the Meriam Dictionary puts it. Porridge is a soft food made by boiling meal of grains or legumes in milk or water until thick. And in the Philippines, “Lugaw” comes in many forms. It could be a arrozcaldo, champorado, binignit, congee, goto, tabirak and even an oatmeal is a porridge. You could only imagine the creative minds of Filipinos coming up with different, unmonotonous and uhmm sumptuous delicacies of a porridge. This is the food well loved by almost everybody, be they young or old. With teeth or without.

The food that everybody can eat and experience the pouring of sweats as the mouth savors its hotness, softness and sweetness and make you crave for more. It is just like you were listening to a beautiful music and you want more. Babies need this.

Mothers cannot resist their babies’ cry so they have to cook this or else you will be deaf listening to their tingling waaahhhs! It is unbelievable that nobody recognizes a porridge because once we were babies, those were our first soft solid foods. When people suffers from dehydration or having fevers and chills, do c tors re commend to take this aside from their prescribed medicines. People who no longer have teeth, oh they loved eating this .

This food is so popular in almost every Filipino homes especially during holy week as Christians are encouraged to participate ‘The Lord’s Passion’ by fasting, abstaining from eating meat and reflect of God’s love on His people.

In line with this issue on wether ‘Lugaw’ is essential or not. The DepEd division of Cagayan de Oro City under the administration

can be encouraged to place ATM terminals in the provinces since they will now be adequately compensated,” he told journalists in a virtual briefing Thursday.

Under the new system, ATM withdrawal fee ranges from P10-P18 per transaction while balance inquiry fee ranges from zero to P2.50 per transaction.

BSP executives said most banks increased their fees under the new system.

While this system seems to be an additional

burden to the cardholders who do not have access to their banks’ ATMs, Diokno said this is beneficial to the banking public in the long run.

He said bulk or 34 percent of ATMs in the country are in the National Capital Region (NCR), 13 percent are in Region 4-A, and between 0 to 8 percent in the other regions.

With the ABFC, BSP executives expect the deployment of ATMs in more areas around the country, which is expected to boost the central bank’s

financial inclusion bid.

Diokno said ATM transactions fell from around 100 million in end2019 to about 73.6 million in the first half of 2020.

“However, withdrawals regained its volume by year-end 2020 to about 94.2 million as lockdown restrictions were relaxed,” he said.

Diokno said a drop was again noted in the first quarter of this year.

“This behavior may be considered normal as may be considered in previous years.

PDIC hikes deposit insurance fund to P216.85-B of the schools division superintendent, Cherry Mae L. Limbaco initiated a beneficial program that could help undernourished children to pursue their studies even if ‘Modular’ is the mode of delivery of teaching wherein their parents have to get the modules weekly in school.

SB F P or t h e S ch o ol Based Feeding Program headed by Doctor Mabel T. Chavez is the DepEd CdO’s answer to ensure the Education For All or EFA by easing the hunger of some Filipino children.

One of the most beneficial product that the SBFP were distributing is the ‘Lugaw’ or Porridge in a nutripack hav i ng s i x f l avou rs .

Some of these flavours include; chicken porridge, beef, caldereta, afritada, macaroni, champorado and arrozcaldo. All schools in the division of Cagayan de Oro City benefited from this program as parents eagerly come to school to get the share for their children and to get their modules as well. DepEdCdO knows how essential a ‘Lugaw’ is.

T hu s , Pre s i d e nt i a l spokesperson Harry Roque deserves a commendation for his statement that he said “Yes, Lugaw is an Essential good at hindi dapat harangin sa mga checkpoints , any food item for that matter is considered an essential good, delivery of food items must be unhampered 24/7 huwag nating harangin sa checkpoints”.

Yes, it is so true that man cannot live by bread alone that is why we call for “Lugaw” because ‘Lugaw’ is life.

STATE deposit insurer Philippine Deposit Insurance Corporation (PDIC) has built up its deposit insurance fund (DIF) to P216.85 billion as of the fourth quarter of 2020, and settled 100 percent of the 7,072 valid deposit insurance claims within its target turnaround time (TAT) for banks ordered closed last year.

The DIF represents PDIC’s overall capacity to respond to insurance calls due to bank failures.

The prompt settlement of deposit insurance claims, on the other hand, provides affected depositors the needed relief.

In a report to Finance Secretary Carlos Dominguez III, PDIC president Roberto Tan said its DIF posted a double-digit growth of 10.3 percent or P20.33 billion from its 2019 level of P196.52 billion.

The increase resulted in an adequacy level of 6.91 percent in terms of ratio of the DIF to the banking system’s estimated total insured deposits. The ratio was above the minimum

target of 5.5 percent for 2020.

Tan said PDIC will endeavor to maintain adequate DIF cover at prudential level.

Dominguez said PDIC’s record of performance has been marked by the prudential management of the deposit insurance fund and the prompt settlement of deposit insurance claims.

The DIF consists of reserves for insurance losses of P193.64 billion, retained earnings of P20.21 billion, and permanent insurance fund of P3 billion.

The PDIC also reported that of the total deposit insurance claims involving 7,072 deposit accounts in five banks closed last year, 6,733 accounts involved deposits of P100,000 and below, were settled within target turn-around-time to eligible depositors, while 339 were for deposits with balances of more than P100,000.

Tan said the PDIC aims to continue the prompt settlement of deposit insurance claims by expanding to digital payment platforms this

year, including Instapay and the multi-channel disbursement facility of a government bank.

He added PDIC is also targeting in 2021 the reduction of loan accounts by 17,825 and real property assets by 807 from the baseline set in 2019.

To support the government’s coronavirus disease 2019 (Covid-19) response efforts and comply with the provisions of the Bayanihan 1 and 2 laws (RA Nos. 11469 and 11494), the PDIC extended the statutory deadlines for filing of deposit insurance and creditors’ claims; granted relief measures to lessees, borrowers, and property buyers; and swiftly addressed the settlement of special claims.

The PDIC reiterated its commitment to deliver value-added services to its clients and stakeholders and to fulfill its core mandates as deposit insurer and statutory receiver of closed banks with operational excellence to protect the depositing public and promote financial stability. (PR)

Banks’ loans to MSMEs fail to hit quotas in Q4 BIG AND THRIFT banks were unable to disburse the minimum credit for small businesses required by law in the fourth quarter of 2020, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Loans disbursed by the banking industry to micro-, small-, and medium-sized enterprises (MSMEs) stood at just P480.501 billion versus their lending portfolio worth P8.412 trillion.

This was also 12% lower than the P547.022 billion lent a year ago but 3% higher than the P464.346 billion recorded as of the third quarter of 2020.

Republic Act 6977 or the Magna Carta for MSMEs requires banks to allocate at least 10% of their loan book for small businesses to boost the sector — 8% to micro and small enterprises (MSEs) and 2% to medium-sized

enterprises.

Big banks have often opted to pay penalties for noncompliance instead of taking on the risks of lending to small firms.

Broken down, loans disbursed to MSEs amounted to P186.124 billion or just 2.21% of their loan portfolio, lower than the 8% required under the law, which is worth P673.013 billion.

Meanwhile, lending to LOANS/PAGE 7

6

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Probe... from page 1

government and regulator are slow to act, and these generation companies are abusing their power without stop.”

Energy Assistant Secretary Redentor Delola indicated that “the department is already looking into it,” but there are no conclusive outcomes yet that the DOE can share publicly.

According to ERC Commissioner Floresinda Digal, the regulatory body has yet to check if there was already an investigation carried out by their division in-charge of monitoring the spot market.

In the report of the Independent Market Operator of the Philippines (IEMOP) of the Wholesale Electricity Spot Market (WESM), it was shown that 18 power plants had been on combination of scheduled maintenance and forced shutdowns from December and some will last

until May this year.

When asked why too many power plants had been allowed to schedule their maintenance shutdowns on summer months given that demand would typically peak on these periods, the WESM operator indicated that it shall be the DOE and the system operator that shall be able to provide answer to that.

Robin Descanzo, chief operating officer of IEMOP, pointed out that when the rate spikes happened in at least three instances in March because of the plant outages, “ we submitted situationerreports at least three times and we submitted them to PEMC (Philippine Electricity Market Corporation), the DOE and the ERC.”

Apps... from page 1

and medical experts to keep track of the cases all over the country and carry out "decisive actions to stem the rapid transmission of the virus."

StaySafe.Ph app, the country’s official contact tracing, health condition reporting, and social distancing system, also targets to complement the efforts of more than 250,000 contact tracers in the country.

For LGUs that still do not have contact tracing applications, Agabe said they can use the StaySafe.Ph as "this will be the national government's official digital contact tracing system so this is readily available for their use at no cost."

Recently, the Regional Inter-Agency Task Force (RIATF) in Region 10 issued a resolution urging all LGUs in the region to adopt the StaySafe.Ph. "We are aiming to reach up to third-degree; meaning, tracing should be done to include identifying close contacts of not only the Covid-19 positive patients but also individuals exposed by the suspect and probable cases," Agabe said.

To better enforce the

Swimming Never Stops

By KAREN D. ILOGON Teacher III Naawan Central School Paulino Ong Street, Poblacion Naawan, Misamis Oriental

Naawan Central School - Long before he won a gold me da l at 2017 Milo Olympics including numerous recognitions from various swimming invitational in Misamis Oriental and Region 10 as a whole. Justin Timothy D. Ilogon never expected that swimming would be a sport that would moulded him as a competitor that would bring pride to the people around him.

Justin’s parents, JR and Karen, never lived a life as former athletes yet their soon noticed that their son displayed its expansive hands, boundless energy and was growing like a weed. He enjoyed splashing around the pool, so the parents figured the water was a good outlet. No one ever thought those swimming lessons take him this far.

At 7 years old, Justin collected his first win at t h e 2 0 1 4 M i s a m i s Oriental Provincial Meet in the elementary 50meter freestyle. It Solidified him as the new star of elementary swimming.

Swimming tournaments continue to contest competitive swimmers.

Justin keeps on striving to capture a win. Yet in ever y competition it is not always winning, defeat should be accepted and with that attitude is what champions are made, never underestimate a true heart of a champion.

The greatest achievement to date was the gold medal win at the 2017 Milo Olympics Mindanao held in Cagayan de Oro City. It is where t h e b e s t s w i m m e rs i n Mindanao are gathered and competed to determine who the best among the best. The win solidified Justin’s place in the region’s sw imming wanders. It w a s t h e n f o l l ow e d by the recently conducted 2017 Provincial Meet in

which he achieved first place in all five events that he competed, a rare achievement for a young swimmer.

All his hardships during practices and sacrifices incurred paid off as every win pours in, giving glory and recognition to his family and the district of Naawan, Misamis Oriental.

The Naawan District, his friends and relatives are continually amazed by the achievements he had achieved.

The next challenge for Justin is the upcoming 2017 Regional Meet which will be held in the Mindanao Civic Center, Tubod, Lanao del Norte on October 26, 2017. A monumental task to achieve yet a heart of a champion should never be underestimated, swimming never stops.

minimum public health standards, Agabe said they urged the LGUs not to limit penalties for violators but also to include community service.

Higala App dry run extended Meanwhile, the local government has extended the Higala App dry run following technical difficulties reported by commercial establishments.

Under a city ordinance, the Higala App's QR code system for contact tracing is supposed to be rolled out on April 6.

Ho w e v e r, t h e l o c a l government has received feedback from the business sector and the public about several technical problems such as failure to register via the Higala App website and QR codes not being recognized by the Higala App scanners.

Mayor Oscar Moreno said the dry run will run until May 4. (PNA)

Postpones...

from page 1 new COVID-19 cases, its highest cases in a day so far, prompting it to resume the No Movement Sunday immediately.

The No Movement Sunday will allow only Authorized Person Outside Residence and for those with emergencies, noted Tamano.

The IATF reminde d Meranaws to continue to observe “minimum health standards.”

Tamano said that the EXTRAJUDICIAL SETTLEMENT BETWEEN HEIRS WITH SALE KNOW ALL MEN BY THESE PRESENTS: That the late CEFERINO MANAGING TUMAPON who died intestate on November 24, 2002 in Corrales, Jasaan, Misamis Oriental, who died intestate without leaving any last Will or Testament, and without any outstanding debt, at the time of his death left a parcel of land with Tax Declaration No. 0813000105012 situated in Poblacion 1 Villanueva, Misamis Oriental, Containing an area of ONE HUNDRED SIXTY EIGHT (168) square meters, that the parties hereto with full civil capacity to contarct, hereby these presents as heirs/ vendors agree to sell and alienate the SEVENTY SEVEN (77) SQUARE METERS, more or less and they hereby undertake to convey, cede, sell and transfer the ownership thereof to EFFIE S. GADAGA, and has been the subject of an EXTRAJUDICIAL SETTLEMENT BETWEEN HEIRS WITH SALE, filed by the heirs of CEFERINO MANAGING TUMAPON, per DOC #144; PAGE #29; BOOK #20; Series of 2021 under the Notarial Registry of ATTY. ALMIRA B. VALDEZ BWM: Mar. 29, Apr. 5 & 12, 2021

wearing of face masks, face shields, and regular washing of hands are a must for every resident.

Lanao del Sur is currently in the process of giving its health workers the second dose of their Sinovac vaccine.

DAR-10 turns over Bualan Communal Irrigation Project to Tubod, LDN

By CLAIRE GIGJE

TUBOD, Lanao del Norte-With the aim of providing adequate water supply to a needing community in the province, the Department of Agrarian Reform-10 (DAR-10) turned over the Bualan Communal Irrigation Project to Brgy.

Bualan in the municipality of Tubod on Tuesday, April 6.

The said project was materialized under the implementation of the DAR-Mindanao Sustainable Agrarian and Agriculture Development (MinSAAD) together with the National Irrigation Administration-10 (NIA-10) and the Japan International Cooperation Agency (JICA) to deliver appropriate service to its beneficiaries.

“Karon nga nia na ning irrigation, hinaot hinay-hinay na mulambo ang kahimtang sa atong farmers ug mahamugaway ilang mga pamilya. Kini nga proyekto makabenepisyo og 50 ka pamilya ug makapatubig og 100-hectare service area,” relayed Norhaida Sahisa, NIA-10 Institutional EXTRAJUDICIAL SETTLEMENT BETWEEN HEIRS WITH SALE KNOW ALL MEN BY THESE PRESENTS: That the late PONCIANO LOMOPOG and MATILDE N. LOMOPOG who died intestate on February 22, 2009 in Poblacion 2, Villanueva, Misamis Oriental and March 9, 1989 at Poblacion, Villanueva, Misamis Oriental, died intestate without leaving any last Will or Testament , and without any outstanding debt, at the time of his death left a parcel of land with Tax Declaration No. 0813000204576 situated at Poblacion, Villanueva, Misamis Oriental containing an area of ONE THOUSAND TWO HUNDRED square meters, more or less, and has been the subject of an EXTRAJUDICIAL SETTLEMENT BETWEEN HEIRS WITH SALE, filed by the heirs of PONCIANO LOMOPOG and MATILDE N. LOMOPOG, in favor of EFFIE S. GADAGA, per DOC #305; PAGE #61; BOOK #19; Series of 2021, under the Notarial Registry of ATTY. ALMIRA B. VALDEZ. BWM: Mar. 29, Apr. 5 & 12, 2021

Development Officer, on behalf of Regional Director Constancio Bana-ay Jr. [Now that this irrigation is already here, I hope that our farmers’ situation will slowly improve and their family will also be alleviated.

This project will benefit 50 families and will water a 100-hectare service area.]

DAR-10 Regional Director Zoraida Macadindang stressed how fortunate the municipality of Tubod is as it is the chosen recipient of the project.

“Swerte kaayo mo kay kamo tong napilian, kamo tong nagqualify, kamo tong nahatagan og ayuda sa Department of Agrarian Reform pinaagi sa MinSAAD sa atong mga project,” she stated.

[You are lucky because you were the one chosen, you were the one who qualified, you were the one given with the help and projects from the Department of Agrarian Reform through the MinSAAD.] With this, Provincial Vice Governor Maria Cristina Atay notified the recipients of the said project to take care of it so that it will be efficiently utilized over a long time and future generations PROJECT/PAGE 7 DEED OF CONFIRMATION OF SALE KNOW ALL MEN BY THESE PRESENTS: That the late ANTONIO BANIEL SR., who died intestate on January 2, 2002, in Tagoloan, Misamis Oriental, that during the lifetime of our parents he sold (1) parcel of land with Tax Declaration No. 08-14-0001-01112 situated in Poblacion, tagoloan, Misamis Oriental, containing an area of TWO HUNDRED EIGHTY NINE (289) square meters, and has been the subject of an DEED OF CONFIRMATION OF SALE, filed by the heirs of ANTONIO BANIEL SR., in favor of EFFIE S. GADAGA, per DOC #300; PAGE #60; BOOK #19; Series of 2021 under the Notarial Registry of ALMIRA BOLUNGAITA VALDEZ. BWM: Mar. 29, Apr. 5 & 12, 2021

7

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Policy... from page 4

shook her head and said: “My dear, since the day you left, that door has always been open.”

Remember, it does not matter what wrong things we have done or how badly we have lived, our heavenly Father’s door is always open— for us to come home. Even though we have rebelled against Him and chosen not to live His way, the moment you decide to ask His forgiveness, Jesus will forgive and accept you just the way you are. That is when He can help you start a new life—but this time daily living His right, true way in a loving relationship with Him. Today He wants you to know He’s waiting… and His door is still open.

Just think a minute...

Heroes... from page 4

opposition newspaper, an expose of former legislator B onifacio Gillego, who questioned Marcos’ exploits.

Burgos’ audacity in printing Gillego’s findings resulted in the immediate closure of We Forum, and the incarceration of Burgos and 14 of his staffers for subversion and rebellion. In addition, they were charged with libel because the articles supposedly maligned not only Marcos but also all war veterans.

Primitivo Mijares, an ex-aide of Marcos, who had the temerity to question not only Marcos’ heroism but also the excesses of martial law, mysteriously disappeared never to be heard from again.

So how does one explain the 33 medals, including the Medal of Valor, that Marcos received? Writer Manolo Quezon had a simple explanation. Marcos received most of his medals at least 12 years after the war ended.

At that time, Marcos was serving as the Chairman of the Defense Committee in the House of Representatives and later as Chair man of the powerful S enate Appropriations Committee.

In both positions, Marcos had a great deal of influence in the armed forces due to his control over the AFP budget!

Lutong Macoy!

Goodbye Treasurer Al Miñosa I emailed him on April 5 to request for a statement of realty taxes I have to pay the City of Muntinlupa. I did not receive the usual quick response. I texted him on April 6, again no reply. I also tried calling him several times but he could not be reached. So I requested a mutual friend to tell Al that I have been contacting him . It was only then that I learned that Al had passed on that very same day.

C i t y Tr e a s u r e r A l Miñosa, a good friend and an exemplary public official, died on April 6 - the 210th COVID 19 victim in Muntinlupa City. Earlier, Jennifer Bote, another model employee (she was Chief of the Medical Technology Unit

of Ospital ng Muntinlupa) became Covid’s 199th victim.

Even prior to Al’s and Jennifer’s deaths, Mayor Jaime Fresnedi already noticed a high attack rate of up to 211 cases per 1000 population among employees.

This prompted Fresnedi to order on April 3 the reduction of manpower reporting to the city hall and other government premises, more frequent disinfection and stricter observance of health safety protocols. Fresnedi also enjoined the public to take advantage of online platforms in transacting with the local government.

Note: You may wish to share the foregoing via Facebook, Twitter or LinkedIn.

and studies in Spain, Portugal, Italy, and in the Boston and Yale Libraries in the United States.

In the book, Malvar sought to prove that based on the manuscripts and works of Pigafetta, as well as the other important documents related to the expedition of Magellan he obtained, the first Easter mass in the country was celebrated in Butuan.

The book also presented the different findings made by panels formed by the gover nment b efore t he formation of the Mojares Panel.

The other panels, aside from that of Mojares, include the Gancayco Panel in 1998 and the Legarda Panel in 2009. (PNA)

from page 2

from page 3

Opens...

kapitan sa Munai, wala mi katilaw og unsay maayo nga kalsada, karon pa,” expressed Barangay Captain Said Amni of Brgy. Maganding.

[I am happy that this project was given to our barangay in Munai. I have been a barangay captain in Munai for twenty-six years, we did not experience what it is to have a proper road, just now.]

The completed construction of CadayunanMaganding-Madaya FMR is among the four infrastructure projects materialized in the municipality of Munai, together with two postharvest facilities and one rural water system. (CRG/ PIA-ICIC)

Butuan... from page 2

Magellan during the time.

S o m e o f P i g a f e t t a’s manuscripts on the Magellan expedition were presented in the book as a result of the research done by Malvar.

Other accounts, such as the contract between Magellan and the King of Spain in 1518, the King’s command to Magellan, and the orders in the contract of Magellan--both dated 1519-were also presented in the book.

Malvar claimed that the documents are vital to prove that Magellan and his men were in Butuan.

He also discussed four other expeditions after Magellan, including that of Loaysa in 1525, Saavedra in 1528, Villalobos in 1543, and the Legaspi in 1565.

He said he personally made all the research works

Refunds...

and equity position at the end of the period,” it noted.

“The group is actively engaged in planning and executing various measures to mitigate the impact of the COVID-19 global pandemic on its business operations.

These include negotiations with key suppliers on capital expenditure commitments and related cash flows, as well as with other suppliers and stakeholders as they impact the group’s cash flows. It is further engaged in the planning of staff rightsizing in addition to further optimization and digitalization of processes,” it added.

Expands... from page 3

t h at c at e r t o t h e l o c a l market palate and hoped to draw in more local customers through its new and refreshed store design that showcases its Fi l ipino he r it age w hi l e adapting to the European market.

By end-April, Jollibee U K w i l l l au nch an app that will allow customers to order in advance.

“Simultaneously, we are investing in technologies such as a mobile app for cl i ck and c ol l e c t a l ong with in-store contactless k i o s k opt i on s t o br i n g additional convenience to our customers,” Jollibee Group market he ad for Europe Adam Parkinson said.

Over five million pieces of Chickenjoy have been sold across Europe since the brand first debuted in the region. (PR)

Kagay-an Festival 1st Oro Lechoneros Encuentro Champion

for Orders, Contact Yoyong:

09354145759 09169249371

Loans... from page 5

medium-sized businesses reached P294.377 billion, which is equivalent to 3.5% of banks’ loan portfolio, beyond the mandated 2% allocation.

By type of lender, credit granted by universal and commercial banks to MSEs during the period amounted to P126.334 billion, equivalent to only 1.67% of their P7.574trillion loan portfolio. They allocated P247.358 billion to medium-sized enterprises, which is 3.27% of their credit book.

Thrift lenders extended P31.582 billion in loans to MSEs or 4.39% of their P719.645-billion loan portfolio. These banks also granted credit worth P32.749 billion or 4.55% of their total lending book to mediumsized firms.

Meanwhile, rural and cooperative banks reached the quotas as their loans to MSEs amounted to P28.198 billion or 23.75% of their P118.722billion portfolio. Loans to medium-sized businesses reached P14.27 billion or 12.02% of their lending book.

MSMEs made up 99% of the roughly one million business establishments in the country in 2018, based on data from the Department of Trade and Industry. They also accounted for 5.7 million or 63.19% of the new jobs that year.

The central bank provided lenders regulatory relief measures last year in a bid to boost lending to MSMEs as they were among the sectors worst hit by the pandemic.

These include counting MSME loans as alternative reserve compliance and the reduced credit risk weight for loans extended to the sector.

Other initiatives are also in the works to bridge the gap in MSME financing, including a c re d it r i s k d at ab a s e project spearheaded by the central bank and the Japan International Cooperation Agency.

It has also teamed up with various institutions for a study on small businesses with a gender lens to look into boosting lending to MSMEs. The study will be a maiden national-level report on issues, challenges, and opportunities for businesses

owned by women from a demand-side perspective.

Its results are expected to be ready by the fourth quarter.

The BSP is like wis e exploring supply chain financing for small businesses which will ease collateral requirements by leveraging on the credit profiles of their major customers.

Project... from page 6

may also benefit from it.

T he proj e c t w i l l b e mainly taken care of by the municipality’s Kabukiran Kaunlaran ng Magsasaka I r r i g at o r s A s s o c i at i o n (KKMIA).

Meanwhile, recipients of the project expressed their joy as they wholeheartedly embraced the effort of the DAR-10 and its stakeholders in improving their lives through irrigation.

“It is with great honor and humility to accept the said project, the Bualan Communal Irrigation Project.

Kinasingkasing namong gidawat ang maong proyekto [We wholeheartedly accept this said project],” Tubod Vice Mayor Clifford Jumalon said to the project implementers.

“Dako gyud kaayo namong kalipay sa mga kaigsoonan or personnel nga nagatabang namo aron matao ning maong project sa amoang barangay tungod kay pinakaimportante ni ug tabang sa amoang panginabuhian sa among

pagpanguma ilabina na sa humay ug katong mga gikinahanglan mapatubigan,” conveyed KKMIA President Isidro Karen.

[It is really our great joy with our brothers and sisters or personnel who helped us with this project because this is very important and will aid our livelihood which is farming, especially our rice plants and others that need to be watered.]

The Bualan Communal Irrigation Project is one of the last two projects turned over to the province implemented under the MinSAAD. (CRG/ PIA-ICIC) DEED OF EXTRAJUDICIAL SETTLEMENT AMONG HEIRS WITH SPECIAL POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That the late REGIE SALINAS LEGO who died last April 8, 2015, at the time of his death left a parcel of land with Transfer Certificate of Title No. T-136916 situated at Barangay Iponan, Cagayan de Oro City, containing an area of NINETY ONE (91) SQUARE METERS, more or less and has been the subject of an DEED OF EXTRAJUDICIAL SETTLEMENT AMONG HEIRS WITH SPECIAL POWER OF ATTORNEY, filed by the heirs of REGIE SALINAS LEGO, per DOC #91; PAGE #19; BOOK #XXVII; Series of 2021 under the Notarial Registry of ATTY. ROLAND E. COLLADO. BWM: Apr. 12, 19 & 26, 2021

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LIFESTYLE IN-DEPTH

Mon-Tue|April 12-13, 2021

8

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