BusinessWeek Mindanao (April 13, 2018)

BusinessWeek M I N DA N A O CREDIBLE

Volume VIII, No. 134 As of 6:00 pm April 12, 2018 (thursday)

FOREX

PHISIX

US$1 = P52.03

8,043.07

8.5 cents

99.14 points

RELIABLE

X

Briefly Agri-pollution THE WORLD BANK said governments should develop ways to measure agriculturebased pollution as well as provide incentives to farmers to minimize their impact on the environment.

In statement Friday, World Bank Vice-President for East Asia and Pacific Victoria Kwakwa said public policy and spending should be geared towards curbing pollution to protect both farmers and consumers.

The bank was citing the findings of a report, “The Challenge of Agricultural P oll u t i on: E v i d e n c e f ro m China, Vietnam, and the Philippines.”

Visit Davao Summer DAVAO City – In time for PAGASA’s declaration of summer, the tourism sector in Davao Region is kickingoff the Visit Davao Summer Festival (VDSF) which runs for 76 days from April 15 to June 30 with 35 events lined up regionwide.

VDSF Executive Committee chair Benjamin Lizada said the holding of events is aimed to put Davao Region on top of the minds of domestic and foreign tourists. This is the widest and the longest summer festival, he said during the launching on Tuesday.

The festival will carry three themes: Sports and Adventure Events, Culture and Arts Events and Party, Fun and Leisure Events plus the fun sale in major malls in the city.

IN-DEPTH

Cagayan de Oro Lapasan Highway, Cagayan de Oro City

Villar: No shortage of commercial rice www.businessweekmindanao.com

Market Indicators

X

YOUR Mindanao-wide BUSINESS paper

S

Friday|April 13, 2018

P15.00

By MARK Q. FRANCISCO, Staff Writer

EN. Cynthia Villar sternly warned commercial rice retailers from taking advantage of the temporary short supply of rice from the National Food Authority (NFA).

Villar, chair of the Senate committee on agriculture, issued the warning during a speech before delegates of the two-day 27th National Hog

Convention here Wednesday.

“There is no rice shortage in the country,” the lady senator clarified, “only that rice/PAGE 11

Some resorts discharge wastewater ‘improperly’ in Northern Mindanao

By MARK FRANCISCO, Staff Writer

SOME beach and inland resorts in Northern Mindanao h av e b e e n i mp ro p e r l y discharging their wastewater, according to Environmental Management Bureau (EMB 10) Director Sabdullah Abubacar.

Abubacar said his office discovered this violation in the course of their two-week inspection in beaches along the Macajalar, Gingoog, and Panguil Bay coastlines.

Abub ac ar s aid t he discharge/PAGE 11

CONGESTED. Francisco Bangoy International Airport in Davao City. mindanews file photo by manman dejeto

Davao City airport already crowded, says biz leader

By ANTONIO L. COLINA, MindaNews

DAVAO City -- The terminals at the Francisco Bangoy International Airport here are already crowded with

Limketkai Luxe Cagayan de Oro manager Jerome de la Fuente lectures about marketing strategies to members of the Regional Association of Government Communicators during a two-day seminar organized by Mindanao Daily News last April 12 to 13 at Grand Caprice in Cagayan de Oro City. photo by mark francisco

the increased number of tourists, and expected to worsen with the possible opening of international

flights to three destinations.

Arturo Milan, president of the Davao City Chamber of Commerce and Industry Inc. (DCCCII), urged government crowded/PAGE 11

WB: 60% live below poverty line in conflict-affected areas

By ANTONIO L. COLINA IV, MindaNews

DAVAO City — At least 60 percent of residents in conflict-affected areas live

below the poverty line and the “reputational damage” caused by security concerns

slowed down growth even in unaffected areas by limiting investment and tourism revenues, the World Bankpoverty/PAGE 11

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

2

Economy

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

Friday|April 13, 2018

DTI sets 2nd Regional Proposal to lower age of SSF Summit in criminal responsibility nixed Zamboanga del Norte

T

By MARK FRANCISCO, Staff Writer

HE Regional Development Council in Northern Mindanao (RDC 10) has expressed opposition to a House bill that seeks to lower the age of criminal responsibility from 15 to nine years old.

In a resolution issued earlier this month, RDC 10 chaired by Bukidnon Gov. Jose Ma. Zubiri, voiced alarm over the introduction of the bill, stating that lowering the minimum age will not address the problem of crimes committed by

children, nor will it stop syndicates from using minors to commit crimes.

RD 10 members said House Bill 002, introduced by Capiz Rep. Fredenil Castro, is “against the best interest of children and violates international laws and standards such as the United Nations Convention of the Rights of the Child.”

It said the bill also runs roughshod with the Philippine Constitution, which provides firm position of the government to

ensure and defend the right of children from all conditions prejudicial to their development.

Councilor Reuben Daba, the City Council committee on social services chair, expressed the same view. Also the councilor said he was amenable to lowering the age of criminal responsibility to 12.

“I believe that 12 is the appropriate age in which it is generally held that they are equipped with the capacity to understand things and the consequences of their actions,” Councilor Daba said.

If passed into law, House Bill 002 will modify Republic Act (RA) 9344 otherwise known, as the Juvenile Justice Act of 2006, which sets 15 as the age of criminal responsibility in the country.

Daba said he would push for the City Council to pass a resolution supporting the RDC 10 position.

RDC is composed of local government officials, as well as regional directors of national line agencies and private sector representatives. (Mark D. Francisco/PNA)

PAGADIAN City -- A 62-man delegation consisting of cooperators and beneficiaries of Shared Service Facility (SSF) of the Department of Trade and Industry (DTI) is participating in the 2nd Regional SSF Summit.

DTI Provincial Director Maria Socorro Atay on Wesdnesday said the members of the delegation of this province will represent the 26 existing SSF projects of the agency here.

Atay said the 2nd Regional SSF Summit is set to be held tomorrow, April 12, in Dipolog City in the nearby province of

Zamboanga del Norte.

Atay said the summit will gather representatives of SSF cooperators in the Zamboanga Peninsula to assess the implementation of the program across the region.

She said they will share the good practices of SSF cooperators in the operation of the projects; create an opportunity for networking among the cooperators and beneficiaries; and, get the commitments among SSF cooperators and beneficiaries to sustain and expand the success of the SSF projects. summit/PAGE 9

RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide CNN Philippines TV-9 Manila CNN Philippines TV-12 Baguio CNN Philippines TV-12 Dagupan CNN Philippines TV-26 Tarlac CNN Philippines TV-10 Iriga CNN Philippines TV-4 Iloilo

CNN Philippines TV-8 Bacolod CNN Philippines TV-9 Cebu CNN Philippines TV-5 Cag. de Oro CNN Philippines TV-5 Zamboanga CNN Philippines TV-7 GenSan CNN Philippines TV-9 Davao

DZBS 1368 Baguio DZRL 639 Batac DZTG 621 Tuguegarao DZKI 1332 Iriga DYKW 936 Binalbagan DYKB 1404 Bacolod DYKC 675 Cebu DXKO 1368 Cagayan de Oro DXKS 1080 Surigao DXKD 1053 Dipolog DXKP 1377 Pagadian DXXX 1008 Zamboanga DXKT 1071 Davao DXDX 693 General Santos

Southeast Asia Division 1 Director Marford Angeles of the Office of the Asian and Pacific Affairs, Department of Foreign Affairs (DFA) says the government has been receiving aids from neighbors and international partners for rehabilitation, reconstruction and recovery of conflict-torn Marawi city and much progress has been achieved after the liberation of Marawi. (Jason C. Casas/PIA ICCC)

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

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

Friday|April 13, 2018

Metro Retail Stores profit increases 24% last year METRO RETAIL Stores Group, Inc. (MRSGI) reported a 23.7% increase in net income in 2017, amid robust sales across all store formats.

In a regulatory filing, the Gaisano-led listed company said its profit stood at P977 million, higher than the P789 million recorded in 2016.

Net sales inched up 1.7% to P35.01 billion in 2017 from P34.4 billion in the prior year.

“The increase in net sales was primarily due to the opening of a new hypermarket and a new supermarket,” the company said, noting it ended the year with 52 stores.

MRSGI operates stores under the Metro Supermarket, Metro Department Store and Super Metro brands. As of end-2017, the company had 26 supermarkets, 12 department stores and 14 hypermarkets.

However, same-store sales fell by 0.7%, “due to lesser clearance sales events and rationalization of sales to resellers which were not profitable.”

MRSGI also reported operating expenses jumped by 5.9% to P6.59 billion last year.

“The increase in operating expenses was primarily due to an increase in salaries and wages, rental expenses, overhead expenses and depreciation expenses

Del Monte postpones IPO to May DEL MONTE Pacific Ltd. (DMPL) is pushing back the stock market debut of its Philippine unit to give way to other big-ticket share sales in the market.

BDO Capital and Investment Corp. Eduardo V. Francisco said in a mobile phone message Del Monte Philippines, Inc. (DMPI) will hold its initial public offering worth a maximum of P16.7 billion next month, later than the initial plan of tapping the equity market in April.

BDO Capital is the issue manager, sole global coordinator and sole book runner.

“Yes (DMPI) is pushing through (with the IPO) but in May,” Mr. Francisco said, citing the combined P110-billion share sale of lenders Metropolitan Bank & Trust Co. and Bank of the Philippine Islands.

DMPI is offering a total of 559.464 million postpones/PAGE 11

3

CorporateWorld

resulting from the opening of new stores. In addition, nonrecurring expenses were incurred in 2017 amounting to P88.4 million resulting from the planned closure of an unprofitable store in the first quarter of 2018,” MRSGI said.

The Gaisano-led company is targeting to double its 2015 gross floor area (GFA) by 2020.

MRSGI already covered 566,494 sq.m. GFA or 71% of its target as of 2017.

Electronics exports up 10% in Jan-Feb

M

By Kris Crismundo

ANILA -- The country’s electronics export revenues for the first two months of the year increased by 10.1 percent from the same period in 2017, the Philippine Statistics Authority (PSA) reported Wednesday.

The export of electronic goods amounted to USD5.33

billion in January to February 2018 from USD4.84 billion revenues in the same period last year.

Four out of nine subsectors of the industry posted double-digit growth in the first two months of the year.

Semiconductors, which composed the lion’s share of the exports, grew 16.1 percent to USD3.88 billion

in January to February this year from USD3.34 billion last year.

Electronic data processing products almost had a flat growth this year, with revenues amounting to USD960 million from USD956 million in January to February period in 2017.

The biggest advances in exports were posted by the telecommunication subsector, accelerating 35.7 percent to USD105 million

this year from USD78 million in the previous year.

Control and instrumentation exports increased to USD145 million this year, while automotive electronics expanded to USD21 million, with increments of 17.6 percent and 23 percent, respectively.

On the other hand, exports of electronic goods such as office equipment, exports/PAGE 11

4

Opinion

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

Friday|April 13, 2018

Smooth ride in Seoul

HOTLINE 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

Joe felicilda

Vice President for Administration

JOHN AARON M. DEL BANDO

VicePresidentforEventsandPromotions

joe palabao

Vice President for Marketing

NELSON CONSTANTINO Editor-in-Chief

gilbert y. chao

Motoring Editor Cris diaz mike baños BONG FABE Contributing Editors

JUN AYENSA

Regional Editor - Caraga

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

Legal Counsel

CLIFFORD SANTILLAN

ATTY. MARIO T. JUNI

Layout Artist

Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO Legal Counsel

ABEGAIL BAYNOSA era mae deloso Advertising

manila office: 9th Floor, Unit 918, CityLand Herrera VA Rufino Cor. Valero St., Salcedo Village, Makati City Tel. # : 5555392,Cell No.: 0977-152-8860 lani vallido-Marketing Manager

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City.

It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463-826-272-000 – VAT. Reg., and with Business Permit No. 2017-02942. Tel. Nos.: (088)856-3344, 0923-432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com

Ruffy magbanua SEOUL, South Korea – In this city of 25 million people, city buses are the most common means of daily transportation.

Buses here are frequent, reliable and probably the most inexpensive way of getting around the metropolis.

Seoul’s bus network is quite extensive. There are approximately 400 bus routes with 8,500 city buses, connecting the farthest corners of the city.

An exclusive lane for buses marked with a blue line painted on the road is enforced on city roads at

Oro Chamber

Switching price tags? think a minute

jhan tiafau hurst Think a minute…Imagine you are in a store and you see a big new television for only $1. You look at a t-shirt and the price on it is $1,000. Next to it is a brand new motorbike that costs only $3. Wouldn’t you wonder if someone had sneaked into the store and changed all the price tags?

What you thought was very valuable is now not very valuable at all.

Have you e ve r gone t h rou g h a p ai n f u l l o ss or frightening crisis that turned ever ything in your life upside down?

Maybe the doctor told you that you have a serious, life-threatening illness.

Someone you love died in an accident. Suddenly almost everything in your life was reshuffled and changed.

Those things that seemed

important and took much of your time before now meant nothing to you. And the things that you took for granted and hardly even noticed now became the most important things to you. It was like someone came and switched all the price tags in your life.

S a d ly, t h e s e p ai n f u l loss es and problems in life are sometimes the only things that wake us up to see what’s truly important in life. Unfortunately for many of us, it’s only when the problem and storm hits that we begin to understand there are only 2 things that really matter : our Maker and people. Life is short. Often shorter than we expect! And hopefully before it’s over we learn how valuable every day is.

Each day is just one more gift from God. So we need to start spending what little time we have left on getting close to Him and the people He’s given to us to share our lives with. That is the only way we can have no fears or regrets when we die. Some of us are scared and don’t want to think of dying because we’re not sure if we’re ready to face our Maker and Judge.

Think a Minute…

every subway station. Some stops have benches inside a shelter while others are in the open. Next the bus stop is a list of the buses that stop there as well as a map of the route each bus takes.

The route map is usually in Korean with only a few, if any, stops marked in English.

Interestingly, they used to be in English and Korea but that changed with the new bus system in 2004.

Some drivers don’t always stop at the scheduled bus stops so you have to watch for them and signal them to stop. These and some others don’t always come to the curb and riders have to walk out into the street to get on them.

Also, since bus lanes are in the middle of the road, the bus stop may be on an island rather than on the curb.

You can use an interactive bus map to figure out your route in English. You can access this site from Chrome as well as from Explorer. It is a bit slow loading in English,

especially from browsers other than Explorer.

There are also bus route apps available for smart phones. The interactive bus map can also be accessed through the Visit Seoul website.

Once on the site, select the language you prefer, then click on transit directions at the top of the page. This same system can be used to find subway stations, driving routes and new address information.

Codes are available at many Seoul bus stops providing information via smartphones in English, Japanese, Chinese and Korean. Just take a photo of the barcode with your smartphone.

Seoul’s major bus stops already use electronic signage displaying expected arrival times. Bus etiquette requires that you enter from the front and always exit from the back door – unless there is only one door such as on smooth/PAGE 9

Fierce discussions at SC truly amazing Kakampi mo ang batas

Member: Philippine Press Institute

daytime, which makes it possible to spend less time on bus rides than in private cars.

Bus routes are color coded with Green and Blue buses working within city limits and going from subway station to subway station. The green buses have the more local routes, while the blue one travel a little further out.

Red buses are express out to the suburbs, while yellow buses run on circular routes in downtown Seoul for easier access to major shopping and business areas.

In addition, each local government gu-office op erates smaller bus es known as ‘maeul’ or village buses that run from major subway stations into local neighborhoods where other buses don’t go.

Bus stops are easily identified by the ‘B’ inside their round shape. The stop signs are color-coded – green for green buses, etc.

There is a bus stop outside

Batas Mauricio LIFE’S INSPIRATIONS: “…

Serve wholeheartedly, as if you were serving the Lord, not people, because you know that the Lord will reward each one for whatever good they do, whether they are slave or free…” (Ephesians 6:7-8, the Holy Bible).

-ooo QUALIFICATIONS ONE NEEDED TO BECOME SC JUSTICE: So the Filipino nation may know what was at the base of the heated and often fiery exchanges in Baguio City on Tuesday, April 10, 2018 in the quo warranto

case against Supreme Court Chief Justice Maria Lourdes Arana l S ereno, we are hastening to clarify here that pertained to the basic qualifications that a person must possess before he or she could be installed and then allowed to continue being a justice of the tribunal.

The qualifications are sp elled out by S ec tion 7 (1) of Art. VIII of the 1987 Constitution, which says: “No person shall be appointed Member of the Supreme Court or any lower collegiate court unless he is a natural-born citizen of the Philippines.

“A Member of the Supreme Court must be at least forty years of age, and must have been for fifteen years or more, a judge of a lower court or engaged in the practice of law in the Philippines…”

On the other hand, under Section 7 (3), Art. VIII, it is there required that a member of the Supreme Court must possess “proven competence,

i nte g r it y, probit y, and independence…”

-ooo FIERCE DISCUSSION AT THE SC WAS INDEED AMAZING: During that hearing on April 10, 2018 on the quo warranto petition that was filed by Solicitor General Jose C. Calida, Filipinos were treated to a highly extra-ordinary, amazing, and unprecedented opportunity (or, without any similar incident in the past) to witness how the justices of the high court deliberated on cases pending before them. In the past, these deliberations were held exclusively behind closed doors, in utmost secrecy.

Indeed, what the Filipino nation witnessed on Tuesday, April 10, 2018, partook of a real street brawl, as it were, complete with insulting and scathing words. This prompted many to ask me thereafter with this question: did not this rare display from the tribunal diminish the

integrity of the court and eroded the character of the justices? From where I sat, I believe not!

The truth is that, I expected that kind of a fierce skirmish among the magistrates. To my mind, it was but natural and fitting that such a bombastic and emotional exchange should occur among them in deliberating on the cases that they would ultimately resolve, especially one that involves one of their kind. What they showed to all and sundry on Tuesday proved, beyond reasonable doubt, that there is freedom of intellectual discourse in the Court, and only the views and positions which were studied well and most appropriate would be the ones to reign.

-ooo I T WO U L D S T I L L B E T H E M AJ OR I T Y ’ S DECISION THAT WILL PREVAIL AT THE SC: The only problem here was that, for the clashing justices, no fierce/PAGE 9

Too much fiction? hints and traces

roy cimagala WE need to examine ourselves with respect to this issue.

It cannot b e denie d anymore that there are now more cases of people, especially the young, who are badly affected by fiction stories which obviously can give us a lot of advantages and pleasures but can also inflict serious albeit subtle

dangers.

Fiction, of course, is a good literary form of storytelling that can lead us to new insights and vicarious experiences, teasing our imagination, creativity and inventiveness. As such, it is something most welcome in our lives.

We just have to be most wary of the dangers fiction stories can also cause. This can happen when the distinction gets blurred between the real and the unreal, faith and reason, the moral and the immoral, good and evil, right and wrong, true virtue and vice and the many caricatures a virtue can have, etc.

Cases of failing to make these distinctions are increasing. Many people are more inspired and influenced

by fiction than by what our faith teaches us. They are guided more by worldly values than by faith, hope and charity.

They are more emotional and temperamental, easily given to violent knee-jerk reactions, than rational and properly restrained.

They are guided more by a worldly sense of justice than by charity, mercy and compassion.

There are those whose feet are already off the ground as they swoon into fantasy land and create a bubble for themselves, and so they get harmed as they fall back into reality again. Some fiction stories consistently tickle the base passions of men such that they can hardly control and regulate their

urges. They play with our emotions.

Because of fiction stories, many have lost the sense of prayer and sacrifice and are simply carried away by activism, rash judgments, indiscretions, etc. They are continually sensually titillated, while spiritually impoverished.

One’s sense of self-worth and self-esteem is based more on worldly pride than on Godly humility. Many fiction stories fail to distinguish between what is good fun and what is already being frivolous.

We really need to be more keenly aware of the dangers and excesses of fiction. We have to do some serious assessments of the shows fiction/PAGE 9

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

Friday|April 13, 2018

5

Environment 6 DENR suspends reclamation activities of coal firm in Masinloc, Zambales T Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Friday|April 13, 2018

he Department of Environment and Natural Resources (DENR) has suspended the expansion activities of Alpha Water Realty Services Corporation (AWRSC), operator of the Masinloc Coal-fired thermal power plant project in Zambales after several violations were found related to its reclamation activities within the Masinloc Oyon Bay Marine Reserve (MOBMR).

“We will review their compliance to our requirements while the suspension order is in place. We will not tolerate violators to continue their operations without facing consequences,”DENR Secretary Roy A. Cimatu said.

DENR Provincial Environment and Natural Resources Office (PENRO), led by its OIC Laudemir Salac, served the suspension order last March 26 to Albert Altura, CEO of AWRSC and permittee of the Special Use Agreement for Protected Area (SAPA) and Johnny Tanis, Plant Manager of Masinloc Power Partners Company

Limited (MPPCL).

The violations were discovered during a verification survey and site assessment made by the DENR within the area covered by the SAPA of AWRSC. According to the compliance monitoring report, AWRSC conducted unauthorized land reclamation on the mid-portion of the small craft jetty and seawall construction along the southwest of the plant. AWRSC also failed to submit permits for its dredging and reclamation activities, for its construction of a seawall along the southwest of the plant and for the stockpiling of coal, conveyors, access roads and other functional plant facilities in the reclamation site.

The suspension order was signed by Jowell Dellosa, Protected Area Superintendent of the Community Environment and Natural Resources Office (CENRO) and Salac. The order required AWRSC and MPPCL to stop all activities related to the said violations and to submit documents and

permits relative to the reclamation and sea wall development activities and to rehabilitate the damaged portions of the MOBMR. The DENR warned that failure to comply with the conditions will result

to the termination of the SAPA and the filing of pertinent lawsuits.

Aside from the suspension order, the DENR will also refer the said violations of the AWRSC and AES-MPPCL to the Bureau of Fisheries

an Aquatic Resources for appropriate action.

Salac said they are now reviewing AWRSC’s documents pertaining to reclamation and sea wall development activities.

Meanwhile, the PENRO has recommended

to the Environmental Management Bureau (EMB) to conduct water quality sampling within the MOBMR to find out the condition of the water in the protected area following the reclamation activities.

Melting of Arctic mountain glaciers unprecedented in past 4 centuries Arctic mountain glaciers are melting faster than at any time in the past 400 years because of rising summer temperatures, a new study found.

The warmer temperatures are melting 60 times more snow from Mt. Hunter in Alaska’s Denali National Park today than the amount of snow that melted during the summer before the start of the industrial period 150 years ago, according to the study, published in the latest issue of the Journal of Geophysical Research: Atmospheres, a journal of the American Geophysical Union.

More snow now melts on Mt. Hunter than at any time in the past 400 years, Dominic Winski, a glaciologist at Dartmouth College in Hanover, New Hampshire and lead author of the new study, said in a news release on Tuesday.

The new study’s results show the Alaska Range has been warming rapidly for at least a century. The Alaska Range is an arc of mountains in southern Alaska home to Denali, North America’s highest peak.

To better understand how the climate of the Alaska Range has changed over the

past several hundred years, Winski and 11 other researchers from Dartmouth College, the University of Maine and the University of New Hampshire drilled ice cores from Mt. Hunter in June 2013.

New ice cores taken from the summit of Mt. Hunter show summers there are least 1.2-2 degrees Celsius warmer than summers were during the 18th, 19th, and early 20th centuries. melting/PAGE 9

Press statement of Secretary Roy A. Cimatu re: establishment of critical habitat in Boracay island

The world-famous Boracay Island forms part of the country’s rich biodiversity.

Just recently, the Biodiversity Management Bureau of the DENR sent a team of experts to conduct a Biodiversity Assessment in Boracay from February 28-March 2, 2018 as part of the action planning process to save the pollution-challenged island.

The team found substantial biodiversity presence even with degraded forests and wetlands. A colony of flying foxes, marine turtles, emergent reef communities, and a number of endemic flora and birds still exist on the island.

Human disturbance, aggressive infrastructure development and unregulated tourism have resulted to habitat destruction of the island’s diverse wildlife. We will not allow further degradation of these ecosystems and species. Boracay is dependent on its biodiversity for water, soil stabilization, food, and as tourist attraction.

We shall establish the Boracay Island Critical Habitat to protect and conserve the forests and coastal marine areas located in barangays Balabag and Yapak, which serve as habitat of colonies of the flying foxes, the nesting grounds of marine turtles, and the nascent corals sprouting in the reef.

The establishment of a critical habitat is the DENR’s concrete commitment to bringing back Boracay’s robust ecology. It shall provide a platform for a community driven ecosystem management approach that guarantees the collective participation of local government units, business sector, people’s organizations, private land owners, thereby integrating biodiversity conservation as part of the island’s development planning process, and way of life of the people.

This undertaking may entail an arduous process. But we are compelled to ensure it will be done, under my watch, and hopefully with your cooperation and support.

7

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

Friday|April 13, 2018

3 Day Sale at SM City Cagayan de Oro The biggest and hottest sale is back! Experience an exciting 3 day sale this coming April 13, 14 and 15 and get a chance to win 1 of 3 Suzuki Raider R150!

What’s more? SM Prestige cardholders can take extra 10% off on Friday, April 13 while SM Advantage and BDO Rewards cardholders can take extra 10% off during the morning special between 10am-12nn on Saturday, April 14 and between 5pm to 7pm on Sunday, April 15 at Ace Hardware, Our Home, Adidas, Surplus, Toy Kingdom, The Body Shop and The SM Store.

See you there, #UptownFam!

Uratex visits Lanao Del Norte Hospitals to donate mattresses under its Project 50 initiative Uratex is blazing a trail this year with one of its biggest and most significant corporate social responsibility projects. Named Project 50, the initiative is part of the leading foam manufacturer’s efforts in celebrating its 50th year in the industry. The program, which follows the motto “Thanksgiving Through Giving” is a yearlong project

that involves distributing 2,500 mattresses—50 mattresses each—to 50 chosen hospitals and nursing homes nationwide. Uratex, which focuses on creating innovative mattresses and other sleeping solutions, wants to focus on honoring the people who have given them staying power in the industry by giving the mattresses to those who need

it the most: the patients and the elderly.

Because of this, hospitals and nursing homes were selected as recipients by the brand because the institutions are home to individuals whose recovery and comfort are highly dependent on sleeping conditions. On a visit to the National Children’s Hospital, Uratex Executive

Vice President Eddie Gallor expressed, “Our patients need more comfort because some of the hospitals we went to do not even have mattresses or foams.”

Uratex has flown to various destinations to personally give its donations to its recipients. Among them is the Gregorio T. Lluch Memorial Hospital - HEMB in Lanao Del Norte. The hospital is the manufacturer’s farthest destination yet after travelling for 500 miles. The government hospital of the city of Iligan is currently housing thousands of refugees who are in need of medical help after the siege of Marawi city.

Uratex also visited the Lanao del Norte Provincial Hospital in the town of Baroy to donate mattresses to the hospital management.

The initiative is a timely contribution to the provinces that have been experiencing concerns regarding the flood of patients needing medical assistance.

Having dedicated five decades of commitment in providing Filipinos comfortable sleeping solutions, Uratex is gearing up for bigger plans for the coming years. It will be taking advantage of its proven track record in manufacturing products for various industries, such as automotive, metal fabrication, and metal and textile production.

WELCOME PARTICIPANTS to the

BusinessWeek MINDANAO CREDIBLE

RELIABLE

Editor: GILBERT Y. CHAO

mOTORING IN-DEPTH

8

Friday|April 13, 2018

Isuzu PH highlights ‘Isuzu Advantage’ at the 2018 Truck Fest

C

ountry’s leading truck manufacturer, Isuzu Philippines Corporation (IPC) displays its latest lineup of Blue Power trucks while highlighting the different advantages of purchasing Isuzu trucks at the 2018 Isuzu Truck Fest.

Held at the SMX Convention Center Pasay, Isuzu conducts its annual truck display from April 6 to 8 which is set to attract truck buyers as the company showcases its full truck line-up in different body applications, along with the special discount and promotions exclusive during the event.

“Our company has been the consistent No. 1 truck brand in the country for 18 years. Isuzu globally is known for its durable and dependable

trucks that can withstand the challenging business operations, but what is more important is the support that we provide to our clients along with every purchase – and this is the Isuzu Advantage,” said Koso.

Isuzu Advantage During the show, Isuzu explained the different customer support program that the company offers which it amply call the – Isuzu Advantage.

First is their nationwide dealer network that now has more than 40 dealer outlets complete with servicing facility, and is still increasing in number as the company roll-outs their network expansion this year.

This is then followed by their nationwide parts availability, for which the company established a 6,000 sqm warehouse facility last years to

cope with the increasing demand.

Aside from that, Isuzu’s expert service technicians, and special Japanese truck field engineers who are available to support and answer its customers queries and other technical requirements. A few years ago, Isuzu also introduced its specialized service trucks, the Isuzu Mobile Medic, that provides roadside assistance to fleet customers. On top these, a series of trainings for drivers and mechanics, heavy-duty truck safety driving trainings and the recently launched eco-driving program to teach fleet drivers the importance of efficient driving.

Truck Fest Display Included in the 2018 Truck Fest display lineup is the best-selling Isuzu N-Series light

truck that comes in seven various body applications namely the - Isuzu NLR 77 Flexitruck, NLR85 Refrigerated Van cooling

by MIT-AIR, NMR85

Cab & Chassis, NPR85 Aluminum Van with tailgate, NQR75 Dropside, NKR71 NCOOL Fruehauf Refrigerated Van cooling by DENSO, and the special Fruehauf Refrigerated cut-away van body.

For the F-Series medium-duty truck Isuzu displays the FSR34 Flatbed, FVR34 Dropside with crane and the FVM34 G-CARGO Fruehauf Wing Van. Meanwhile, for the C&E Series – the CYZ Dump Truck, EXR52 Tractor Head and EXZ52 Tractor Head with Trailer.

Part of the display this year, is Isuzu’s D-MAX pick-up trucks, which sees the D-MAX with FlexiQube body, D-MAX with Refrigerated Van by Coolaire and the D-MAX with Crane. First time to debut at the Isuzu Truck Fest, is the Isuzu QKR light-duty truck which the company displays in

its latest PUV prototypes designed by CENTRO, Almazora and Santarosa Motor.

Along with the vehicle display, different body builders were on-site so that customers can immediately discuss their purchase requirements upon picking the right truck for their business.

Present during the show were CENTRO, Almazora, Multi-lift, Pinnacle, Red Dragon, Columbian Motor, JVF, DENSO, and CoolAire.

Special Discount and Promo Exclusive to all the customers who visited the show, a special price discount of P35,000 for every closed truck transaction from April 6 to June 30, 2018. Aside from this, customer will also receive P10,000 worth of Isuzu parts coupon which can be used in any Isuzu dealerships nationwide.

9

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

Friday|April 13, 2018

Summit... from page 2

She said an awarding of the Best SSF Projects in the region will also be held during the summit.

She said that P16.052 million SSF funds went to the procurement of machines and equipment to the 26 existing SSF projects.

The machines and equipment are being used by the cooperators through usufruct basis.

The 2nd Regional SSF Summit is anchored on the theme “Shared Success for Filipino MSMEs (micro, small and medium enterprises).”

Meanwhile, Atay said DTI has allocated P9.53 million for three SSF projects this year in this province. (PNA) Southeast Asia Division 1 Director Marford Angeles of the Office of the Asian and Pacific Affairs, Department of Foreign Affairs (DFA) says the government has been receiving aids from neighbors and international partners for rehabilitation, reconstruction and recovery of conflict-torn Marawi city and much progress has been achieved after the liberation of Marawi. (Jason C. Casas/ PIA ICCC)

Smooth... from page 4

the neigborhood buses - and that passengers yield to the elderly, disabled and pregnant if seated in seats designated for them.

The best way to get around Seoul is via the subway. You can throw in a taxi ride here and there if you plan on staying out late, or a bus ride if your destination is too far to walk.

Seoul is too massive to be explored solely on foot, but it does contain some neighborhoods that were made for walking like the Bukchon Village.(ruffy44_ ph2000@yahoo.com)

Fierce... from page 4

matter how good or how sound their arguments may have been, and no matter how well they’ve put their perceptions across, it would still be the position espoused by a majority of them that would have to prevail. What I mean here is, no matter what directions the discussions of the justices may have taken, they would still have to come to a bend---that of voting for the final position of the court.

The position, in any given case, that will be supported by justices numbering 50% plus one will be recognized as the judgment of the Court, which will become law of the land and which would have to be obeyed by everyone in the Philippines after that judgment is promulgated.

Because of this, what we should all wait for in the case of Sereno would be the result of voting among the justices.

What is my fearless forecast on the ultimate destiny of the quo warranto case against Sereno? Well, there would only be two possible results here---either

victory or defeat for Solicitor General Calida, or victory or defeat for Chief Justice Sereno. Whatever this final result may be, I can truthfully say, without any fear of contradiction, that the true beneficiaries of this episode in our history would be the Filipino people themselves, because many legal issues have been resolved in the case of the chief justice.

-ooo FOR QUESTIONS, REACTIONS: If anyone would like to ask me any question about what the burning issues of the day mean, or what we have discussed here, or to consult on any problem, whatever it maybe, please call 0917 984 24 68, or email me at batasmauricio@yahoo.com, or post your concerns at www.facebook.com/attybatas.

Promise, I will answer right away. Thank God in the Name of Jesus, Amen!

Fiction...

from page 4 and stories presented on TV, the Internet and the media in general, probing into the main interests and motives of those behind these shows and stories. There is strong basis to suspect that they are more interested in ratings and profits than in the real common good of the people.

We cannot afford to be naïve anymore. Times are getting complicated and we cannot dismiss the idea that there are dark forces who are taking advantage of our complicated times to push their evil agenda.

Let’s never forget that Christ himself warned us to always be very vigilant, and that we should be clever as serpents even as we should also be simple as doves. This is no paranoia. This is prudence.

We have to learn to do battle with the enemies of God and of our soul who may appear to us as sheep when they are actually ravenous wolves.

In this issue, we have to learn the skills of detecting the objective dangers of fiction stories and of helping the subjective analytical appreciation by people, especially the young, of these same fiction stories.

This will take a lot of effort, but it would all be worthwhile. Let’s hope that after some time, we can acquire the skill and expertise and can truly clarify things insofar as fiction stories widely marketed in the media are concerned.

We should not just be warned about the dangers arising from sex and violence.

We should be more wary of the dangers that affect our faith, hope and charity, and the many other human virtues flowing from these theological gifts.

Melting... from page 6

Hunter has about double t he amount of warming that has occurred during the summer at areas at sea level in Alaska over the same time period, according to

US-GSP benefits extended to PH exports for 3 more years Philippine exports will continue to enjoy duty-free access to the United States for three more years following US President Donald Trump's signing of the Omnibus Spending Bill (OSB), which covers the re-authorization of the US Generalized System of Preferences (GSP) program.

The reauthorization allows the GSP, of which the Philippines is a member, to run through to December 31, 2020, and includes a mechanism that refunds tariffs paid from January 1, 2018 through the reinstatement date of the program. The OSB was signed on March 23.

Department of Trade and Industry (DTI) Secretary Ramon Lopez, in a statement welcoming the re-authorization, thanked the US government for "the timely renewal of the GSP program as Philippine exporters will continue to benefit from enhanced market access to the United States under GSP." The GSP program covers a total 5,057 products or tariff lines, or roughly 47.7% of the 10,600 total US tariff lines. Of the total tariff lines, 3,500 are open to all beneficiary developing countries, while an additional 1,500 products are given to the leastdeveloped beneficiary developing countries.

Effective July 1, 2017, a total of 23 travel goods articles were added to the program.

For the Philippines, Lopez said the

country's GSP exports account for 18% of exports to the US and have an estimated value of $1.59 billion.

Top GSP exports to the US include telescopic sights for rifles, spectacle lenses other than glass, new pneumatic radial tires of rubber, nonalcoholic beverages not including fruits and vegetables, and electrical machinery and equipment parts.

Lopez said the recent re-authorization of the GSP program is a "triple-win" for developing countries, US companies, and American consumers.

DTI undersecretary Ceferino Rodolfo, meanwhile, highlighted the importance of the US GSP in the face of a brewing trade clash among bigger countries.

"The Philippines utilizes all available tools to maintain and even improve its preferential access to key markets. This is important not only in ensuring advantage for our exports but equally critical, to heighten the Philippines' advantage as location for manufacturing of these products," Rodolfo said.

Aside from the GSP program, DTI said formal consultations are also underway to exempt Philippinebased exporters from additional tariffs which the US may impose on certain products.

"With respect to the US, the longer term goal is to negotiate and conclude a free trade agreement," Lopez said. -- www.portcalls. com

the new research.

R e s e a rc h e r s b e l i e v e that the warming of the t ropic a l Pac i f ic O c e a n ha s cont r ibuted to t he unprecedented melting of Mt. Hunter’s glaciers by altering how air moves from the tropics to the poles.

They suspect the melting of mountain glaciers may accelerate faster than the melting of sea level glaciers as the Arctic continues to warm.

“This adds to the growing body of research showing that changes in t he tropica l Pacif ic can manifest in changes across the globe,” said Luke Trusel, a g laciolog ist at Rowa n University in Glassboro,

New Jersey who was not connected to the study.

“It’s adding to the growing picture that what we’re seeing today is unusual.”

Since mountain glaciers provide fresh water to many heavily-populated areas of the globe and can contribute to sea level rise, understanding how mountain glaciers are responding to climate change is important.

“The natura l climate system has changed since the onset of the anthropogenic er a ,” Wi n s k i s a id . “I n t he Nor t h Paci f ic , t h is mea ns temperature a nd precipitation patterns are different today than they were during the preindustrial period.” (Xinhua)

10

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

friday|April 13, 2018

NEW DOT-10 Regional Office

How to get there

11

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

Friday|April 13, 2018

Rice... from page 1

the cheaper NFA rice stocks had run out.”

Villar said the country’s free market policy should never be exploited by illegal price increases. “ Wa l a n a m a n g r i c e shor tage dyan, marami namang commercial rice varieties available,” she said.

Vi l l ar s aid t hat p er 2017 record, the yearly consumption of Filipinos stands at 11.8 million metric tons, which remains lower than the 12.5 million metric tons of palay produced that year in the country.

She also took time to commend the local price coordinating councils such as those in Cagayan de Oro City that initiated immediate steps in inspecting commercial rice retailers from engaging in unfair business practices.

The senator said that the government must watch out for retailers hoarding highend rice varieties and selling them at a higher price once the whole NFA stock runs out, which is expected to be next week.

E a r l i e r, C i t y P r i c e Coordinating Council chair Jose Edgardo Uy said they are also on alert for retailers mixing Class B and Class A rice varieties and selling them at a higher price.

Uy said violators would be penalized according to the law.

Discharge... from page 1

improper disposal of wastewaster was also found among inland resorts in landlocked Bukidnon, and even beaches around the island province of Camiguin.

The series of surprise inspections were conducted following an order from the EMB central office, the official said, over the discovery of serious environmental violations in the worldrenowned resort of Boracay in the Visayas.

Among the most common violations the EMB 10 found among the region’s resorts pertain to the lack of necessary permits to operate a water treatment facility.

Worse, some even lacked water treatment facilities of their own.

Department of Tourism (DOT10) Director Marie Elaine Unchuan said that under the Water Code of the Philippines, commercial establishments such as resorts need to discharge their “black water” and “grey water” separately.

Black water” emanates from toilet bowls and urinals while “grey water” comes from kitchen sinks, showers and faucets, Dir. Unchuan explained.

DOT 10 conducted its own inspection of the region’s beach resorts following a separate directive from Tourism Secretary Wanda Teo. Meanwhile, Abubacar said he will release the full report on the list of violators by next week. He said the normal process is for the

beach resorts to “get rid of the anomalies within 15 days” lest they face sanctions. SOME beach and inland resorts in Northern Mindanao have been improperly discharging their wastewater, according to Environmental Management Bureau (EMB 10) Director Sabdullah Abubacar.

Abubacar said his office discovered this violation in the course of their two-week inspection in beaches along the Macajalar, Gingoog, and Panguil Bay coastlines.

Abub ac ar s aid t he improper disposal of wastewaster was also found among inland resorts in landlocked Bukidnon, and even beaches around the island province of Camiguin.

The series of surprise inspections were conducted following an order from the EMB central office, the official said, over the discovery of serious environmental violations in the worldrenowned resort of Boracay in the Visayas.

Among the most common violations the EMB 10 found among the region’s resorts pertain to the lack of necessary permits to operate a water treatment facility.

Worse, some even lacked water treatment facilities of their own.

Department of Tourism (DOT10) Director Marie Elaine Unchuan said that under the Water Code of the Philippines, commercial establishments such as resorts need to discharge their “black water” and “grey water” separately.

Black water” emanates from toilet bowls and urinals while “grey water” comes from kitchen sinks, showers and faucets, Dir. Unchuan explained.

DOT 10 conducted its own inspection of the region’s beach resorts following a separate directive from Tourism Secretary Wanda Teo. Meanwhile, Abubacar said he will release the full report on the list of violators by next week. He said the normal process is for the beach resorts to “get rid of the anomalies within 15 days” lest they face sanctions.

Crowded... from page 1

to improve facilities to ease the congestion.

He said in an interview that the situation at the airport should pressure government to work on modernizing the terminals. But Milan was quick to say “that’s a better problem to solve rather than having a terminal without any flights at all.”

The City Tourism Office recorded a total of 2,009,879 tourists last year, which increased from 1,716,224 tourists recorded in 2016.

Budget Secretary Benjamin Diokno said the government would bid out operations and maintenance improvement for the upgrade aimed to turn the airport “into a world class domestic/international hub by opening up the operations and maintenance to topnotch operators.”

The cost for the upgrading

is P40.6 billion.

Milan said three international flights – to Qatar, Hong Kong, and Japan – would soon open up in Davao that will make the airport even busier.

Qatar Airways announced that cities of Davao and Cebu are among the four areas in Southeast Asia where they plan to establish direct flights from 2018 until 2019 as part of the company’s aggressive expansion plans.

Milan said the DavaoHong Kong route would be reopened but did not disclose the airline behind the plan.

He said their Japanese are so aggressive at establishing Davao-Japan-Davao flights that they want to have it established before this year’s Kadayawan Festival.

“We have already talked with Japanese counterparts in the tourism industry so they are very interested that soon there should be a direct flight from Davao to Japan [and] they really wanted it before the Kadayawan,” Milan said.

He said their counterparts in Japan are eyeing to establish direct flights from Davao to Tokyo, Haneda, or Nagoya.

The airport here has currently two international destinations – Kuala Lumpur serviced by AirAsia and Singapore by SilkAir. The most number of foreign nationals who visited Davao City last year came from the United States with 20,779; Japan, 12,510; China, 9,231; Korea, 7,550; Australia, 5,929; India, 4,976; Singapore, 4,040; Canada, 4,016; UK, 3,282; and Saudi Arabia, 2,371.

Poverty... from page 1

funded Mindanao Jobs Report said.

The study said the decades-old armed conflicts in Mindanao affected 62 percent of the island’s total population, dampened efforts to reduce poverty level, and kept the businesses smallscale and small farmers at subsistence level to “avoid kidnap and extortion.”

It added areas known to be unaffected by violence “bear the fiscal burden of coping with displaced persons.”

Citing the United Nations High Commissioner for Refugees, the study said that nearly a million residents were displaced due to a series of armed clashes in August 2014, displacing 41 percent of the population of the five-province Autonomous Region in Muslim Mindanao ( A R M M ) and a dj a c e nt provinces.

Residents from Basulta (Basilan, Sulu, Tawi-Tawi) in ARMM and C entral Mindanao migrated in 2015 to safer areas in the Philippines and around 470,000 Filipinos fled to neighboring Sabah, Malaysia.

Of those who went to Sabah, 25 percent were considered “stateless” with no birth certificates or passports to prove their nationality, reducing “their access to jobs and services and increases their vulnerability to exploitation.”

“On the other hand, more peaceful areas have benefited from opportunities to process agricultural produce from conflict-affected areas, where processing facilities are rare.

And many skilled workers from conflict-affected areas have migrated to other regions of Mindanao,” it said.

Security concerns also depress e d tour ism and boosted the emigration of skilled workers, the study said.

But it said economic policies and programs can “support peace efforts by providing jobs for workers who might otherwise be tempted to join extremists’ armed groups or organized crime, and by doing better job of delivering basic government services.”

It cited that the conflicts can be addressed by reaching a settlement on grievances s t e m m i n g f rom s o c i a l and p ol it ic a l d ispute s, and suggested delivering government programs and basic services.

“While many who take part in violence do so for ideological reasons, others join armed groups to escape poverty,” it said.

It suggested that delivering government programs and basic services more effectively could help alleviate the problem, for instance, cashfor-work programs that would benefit poor individuals and local communities, and entrepreneurship programs that provide small cash grants to people. “ The target groups should initially be people vulnerable to taking up arms, such as ex-combatants, out-of-school youth, and internally displaced people.

After being piloted, programs could be expanded to other poor people to avoid the perception that they are rewarding participation in violence,” it said.

The study s aid t hat economic policy can support resolution of conflicts but a political settlement is necessary to address “issues at the root of the conflict, in particular a deep sense of injustice that is a consequence of greatly unequal political and economic power, and longstanding grievances over land dispossession.”

“It is clear, however, that poverty and economic hopelessness in conflictaffected areas help perpetuate conf lict, as individuals w it h out l a n d or w or k opportunities are driven to join armed groups to survive or to seek social status,” it said.

It suggested providing an alternative income source and improving the delivery of basic services in neglected areas because the discontent resulted from social injustice and unequal distribution of economic opportunity and development resources.

It emphasized the need for jobs creation to address basic cause of conflict that “drives many, particularly out-ofschool youths, to desperation” especially in the Basulta area where 24 percent of workingage youth are idle, higher

than the national average of 16 percent.

But it emphasized that job creation initiatives should be managed carefully to avoid favoring one group over another while government must prioritize for cash-forwork program ex-combatants, out-of-school youth, and internally displaced people.

“After being piloted, programs could be expanded to other poor people to avoid the perception that they are rewarding participation in violence. Given t he importance of social inclusion in forestalling violence, job creation schemes could give priority to programs that promote solidarity, such as group employment in public works and group borrowing for livelihood,” it said.

Exports... from page 3

consumer electronics, communication and radar, and medical and industrial instrumentations declined by 30 to 35 percent.

T h i s ye ar, t h e Semiconductor and Electronics Industries of the Philippines, Inc. (SEIPI) expects the industry to grow by 6.0 percent -- which it says is a conservative target, following the lower end of the global electronics market outlook of 6.0 to 8.0 percent by end-2017.

SEIPI President Dan Lachica said the 6.0-percent target is also a realistic target for 2018 after the industry hit its highest exports revenue in history last year amounting to USD32.7 billion. (PNA)

Postpones...

purposes.

DMPL has been undertaking a series of fundraising initiatives aimed at repaying debt incurred to support the $1.68-billion acquisition of US-based Del Monte Foods Corp.’s consumer business, which was later renamed to Del Mont e Fo o d s , In c . , i n February 2014.

L a s t D e c e mb e r, t h e company raised $100 million from the sale of Series A-2 preferred shares to settle an outstanding bridge loan from BDO Unibank, Inc. scheduled to mature in February 2019.

DMPL, which is listed on both the PSE and the Singapore Stock Exchange, said it will seek the approval of its shareholders for the IPO through an extraordinary general meeting. Following the maiden share sale, DMPL will keep around 67% of its shareholdings in DMPI. DMPI is an indirect subsidiary of DMPL through Del Monte Pacific Resources Ltd.’s Central American Resources, Inc. It sells canned pineapple juice and juice drinks, canned pineapple and tropical mixed fruits, tomato sauce, spaghetti sauce and tomato ketchup.

Del Monte Pacific has the rights to the Del Monte brand for packaged products in the United States, South America, Philippines, the Indian subcontinent and Myanmar, and the S&W brand for both packaged and fresh products globally except Australia and New Zealand.

from page 3

shares to the public, or about 20% of its outstanding shares, for up to P29.88 apiece.

Net proceeds of the offer will be used to partially prepay or repay debt, as well as for general corporate Publication Notice R.A 10172 NOTICE TO THE PUBLIC CCE-0008-2013 RA No.10172

Date: April 2, 2018

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administration Order No. 1 Series of 2012(IRR on R.A. 10172), Noted is here is hereby served to the public that HERNES JAMIS TUZON has filed with this Office, a petition for Correction of entry in sex from ‘’MALE’’ to ‘’FEMALE’’ in the certificate of live birth of HERNES JAMIS TUZON at Laguindingan,Misamis Oriental and whose parents are NESTOR ESTRADA TUZON and HELEN MADRIDANO JAMIS.

Any person adversely affected by said petition may file his written opposition with this Office not later that April 17, 2018.

(Sgd.) MA.TERESA R. CAYLO Municipal Civil Registrar (Signature over printed name of the C/MCR)

BWM: April 6 & 13, 2018

Republic of the Philippines Province of Misamis Oriental Municipality of Initao -oOoNOTICE TO THE PUBLIC CFN-0002-2018

March 26, 2018

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No. 1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that CHARLENE M. BIHAG has filed with Office, a petition for change of first name from ‘’ARLENE’’ to ‘’CHARLENE’’ and correction of entry in sex from ‘’ ‘’ to ‘’ ‘’ or correction of entry in the date of birth from ‘’ ‘’ to ‘’ ‘in the certificate od live birth of ARLENE C. MIÑOSA at Initao, Misamis Oriental and whose parents are MARVIN J. MIÑOSA and VENANCIA B. CAAYUPAN.

Any person adversely affected by said petition may file his written opposition with this Office not later than April 18, 2018.

BWM: April 6 & 13, 2018

(Sgd.) ISAIAS A. JARALES Municipal Civil Registrar

12

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

Friday|April 13, 2018