BusinessWeek Mindanao 04-14-14

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Volume IV, No. 89

Market Indicators

As of 6:02 pm Apr. 12, 2014 (Saturday)

FOREX

PHISIX

US$1 = P44.28

6596.96 points

X Briefly

41.93 points

X

3 cents

Swine export PORK producers in South Cotabato are eyeing entering the Singapore market and are pushing for the revival of negotiations for this, a Mindanao news site reported.

South Cotabato Swine Producers Association chairman Dr. Emilio Escobillo Jr. said they hope negotiations can take off in the next few months, MindaNews reported.

“We’re now working on this and hopefully the negotiations will take off in the next few months,” he told MindaNews at the sidelines of the 23rd National Hog Convention.

He said they started initial discussions with top Department of Agriculture officials to revive talks with Singapore to facilitate the entry of local pork meat products there.

Job generation THE Board of Investments (BOI) approved projects are expected to generate 11, 636 jobs, compared to last year’s 7,239 jobs for the same period.

For the first quarter of the year, the BOI posted a total of investment approvals amounting to P46.77B which is expected to increase employment opportunities by 60.74% compared to figures of January to March 2013.

According to BOI Managing Head Undersecretary Adrian S. Cristobal Jr., the significant increase in job generation is a result of the substantial investments in the Manufacturing Sector which grew by 168%, from P777M to P2.1B over the same period last year

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TSI expands capacity to meet high power demand in Mindanao

By BONG D. FABE, Correspondent

DAVAO City -- To meet the projected power demand in Mindanao in the next three to five years, AboitizPower Corporation subsidiary Therma South Inc. is exp anding t he capacity of its baseload coal-fired power plant now under construction from 300-megawatt to 645-MW. “AboitizPower’s main interest in expanding this plant is to help Mindanao avoid repeating the big problem of the past where it failed to build the power plants needed before the demand for power kicked in. As a consequence, most parts of Mindanao have, for years and until today, been experiencing prolonged and frequent brownouts and it’s growth and development has been severely affected,” said Manuel M. Orig,

AboitizPower first vice president for Mindanao Affairs.

According to the Mindanao Grid SupplyDemand Outlook 2012-2030 of the Department of Energy (DoE), Mindanao’s project peak power demand is “seen to increase to 2,068-MW in 2020 and will increase further to 3,250-MW in 2030.” “[The] Mindanao Grid is experiencing under generation since 2010. The large power plant built in the region is the 210-MW Mindanao coal-fired which was commissioned in 2006.

The existing capacity in the region is composed of more than 50 percent hydroelectric power plant which is dependent on the availability of water TSI/PAGE 8

Losses due to ‘red tide’ in Misor reach P.5M MISAMIS Oriental -- The “red tide” that struck the coastal areas of Misamis Oriental for the past weeks has brought losses of more than P550,000 on the province’s "mariculture” industry, the Bureau of Fisheries and Aquatic Resources (BFAR) said on Friday.

“Mariculture” is shortened term for marine culture technology that involves the development of “floating fish pens” where fish, like “milkfish” (Bangus), are raised in commercial value.

Angelilah T. Cabig, BFAR spokesperson, said that the marine mortality due to the

“harmful algal bloom” (HAB) in the Balingasag Mariculture Park has reached the total value of P550,360.60 as of Thursday.

She said that 45,594 pieces of bangus died in the Mariculture Park in Balingasag, Misamis Oriental because of the HAB spawned by the natural “red tide” phenomenon that started last April 4 in Iligan Bay, Lanao Del Norte. “ T h e HA B a f f e c t e d 20 cages that recorded a mortality of than 30,000 bangus fingerlings since April 5 here,” Cabig said.

MISOR/PAGE 8

Mon-Tuesday | April 14 -15, 2014

P15.00

P-Noy set to receive draft of Bangsamoro law today By: MINDANEWS

COTABATO City -- The draft Bangsamoro Basic Law (BBL) will finally be submitted to President Benigno S. Aquino III in Malacañang by the Bangsamoro Transition Commission (BTC) today (April 14), the Mindanao Civil Society Organizations Platform for Peace (MCSOPP) said on Saturday.

The MCSOPP, which is composed of 120 groups and networks in the island, has

been tapped by the BTC to conduct consultations and to provide recommendations

to the crafting of the BBL. “This is a significant milestone in the process of implementing the commitments of the government and the Moro Islamic Liberation Front (MILF) as enshrined in the Comprehensive Agreement on the Bangsamoro (CAB),” the group said in a statement. “ The Basic L aw will serve as charter of the future PNOY/PAGE 11

FRESH TAMBAN. Tons of tamban or sardines are displayed at the fish port of Opol town, Misamis Oriental on Friday, April11, 2014. The fish were caught from the waters between Northern Mindanao and Visayas which are relatively free of the red tide that has already killed thousands of bangus and kitong in Northern Mindanao.

MindaNews photo by Froilan Gallardo

Coast Guard issues safe travel plans for Lenten Season THE Philippine Coast Guard (PCG) in this seaport capital of Northern Mindanao has started implementing “Oplan Ligtas Biyahe” (Operation COAST GUARD/PAGE 8

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E conomy 2 Tax, customs collections in NorMin continue to grow in 2013 YOUR LOCAL ONLINE BUSINESS PAPER

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The revenue collection efforts of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (B OC) in Northern Mindanao are paying-off as both tax and customs

collections in the region continue to post positive growths in 2013.

Data gathered by the National Economic Development Authority (NEDA) Regional Office X,

shows that BIR has collected P8.15 billion in taxes in 2013, up by 15 percent from the P7.12 billion tax collections posted in 2012.

Engr. Cecilio Clarete, chief economic development specialist of NEDA-X, said income taxes accounted for the largest share of the region’s total tax collections sharing P5.18 billion or about 63 percent.

Collections from value-added taxes, which c o mp r i s e d 2 4 p e r c e nt of the total collections,

amounted to P1.9 billion while percentage, excise and other taxes totalled P1.04 billion or about 13 percent of the total.

Revenue District (RD) 101 in Iligan City emerged as the top growth performer posting the highest increase in tax collections at 23 percent from P1.13 billion in 2012 to P1.38 billion in 2013.

How e ve r, R D 9 8 i n Cagayan de Oro City still collected the biggest share posting P4.58 billion or

56 percent of the total tax collections.

Clarete said the continued improvement in collections was due to the BIR’s effective implementation of Oplan Kandado and Run After Tax Evaders (RATE).

Customs collections, on the other hand, climbed by 13 percent in 2013 reaching P6.69 billion.

Bulk of the customs c ol l e c t i ons c am e f rom the Mindanao Container Terminal (MCT) recording P5 .7 6 bi l li on or ab out

86 percent of the total collections in the region.

Clarete said MCT posted increases in collections ov e r t h e y e ar s du e t o the continuing shift of operations from the Cagayan de Oro port to MCT. Despite the decline in the collections of the Cagayan de Oro port by 15 percent, he said its impact to the region’s overall collections was considerably minimal because it was offset by the magnitude of transactions at MCT. (APB/PIA-10)

NorMin posts 6% growth in palay production in 2013 Northern Mindanao registered a six percent growth in palay production i n 2 0 1 3 , a c c ord i n g t o the National Economic Development Authority (NEDA) in the region.

Engr. Cecilio Clarete of NEDA disclosed in today’s media forum that the region produced a total of 674,903 metric tons (MT) of palay in 2013, up by 5.89 percent from the 637,348 MT produced in 2012.

Are a har veste d a ls o

went up by two percent to 158,338 hectares while yield increased from 4.12 MT per hectare to 4.26 MT per hectare.

Clarete said the region still managed to post a growth despite a slowdown in production during the fourth quarter of 2013.

Data gathered by NEDA-10 show that palay production in the fourth quarter grew minimally by one percent due to the negative performances of

Lanao del Norte and Misamis Occidental attributable to the movement of harvest, insufficient rainfall during the planting period, and rehabilitation of the National Irrigation System (NIA) irrigation systems.

However, increases in production were also noted in Bukidnon, Camiguin and Misamis Oriental during the period due to the increased usage of fertilizer, more usage of high yielding variety, and lesser prevalence of pests

and diseases.

Meanwhile, corn production in the region declined by four percent in 2013 from 1,228,754 MT in 2012.

Clarete said yellow corn, which constituted 70 percent of the region’s total annual c or n pro du c t i on , we nt down by four percent due to shifting of yellow corn areas to other crops as well as to the substantial decline in area harvested. (APB/ PIA-10)

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PHL misses 2013 rice self-sufficiency target THE Department of Agriculture said the country failed to meet its target of 100-percent rice selfsufficiency in 2013 despite earlier projections that the goal would be met before 2014.

According to a report on GMA's “24-Oras” aired Saturday, Agriculture Secretary Proceso Alcala admitted there was an error in their computation for the rice sufficiency program.

Alcala said that instead of a 100-percent self-sufficiency rate, the country only achieved 90 percent in 2013.

In March last year, an agriculture official stated that the Philippines was near the 20-million-metric-tons rice production threshold to be considered self-sufficient.

Alcala said in 2010 that the government's target year to each self-sufficieny in rice was 2013 – a deadline that was then moved to 2014.

But despite failing to

reach rice self-sufficiency, production rose 6.5 percent by the end of 2010 and further to 8 percent from 2011 to 2012.

O ve r a l l, t h i s g row t h resulted in a total harvest of 16.5 million metric tons of rice in 2011. The following

year, harvest went up to 18 million metric tons.

Even if the numbers did not translate to self-sufficiency in rice, the dramatic increase in output reduced the need to import the commodity to 187,000 metric tons in 2012

from 500,000 metric tons in 2011.

Alcala said the DA is starting projects that will help the country reach the selfsufficiency mark and exceed it so the country can begin exporting rice.

Monsanto hopes to combat GMO ‘fear-mongering’ AT a l ab or ator y at it s headquarters in the US heartland, a Monsanto scientist demonstrates how genetic material is inserted into plants, a common procedure still viewed as a dark art in parts of the world.

In Chesterfield, Missouri, outside of St. Louis, the Monsanto biologist wields a pipette and two shucked ears of corn to show how genes are transferred when creating genetically modified seeds.

The process is always being refined at this massive biotech conglomerate, with some 1,200 employees constantly on the search for new inroads in the science.

Researchers can even cross corn with animal genes if they want, although “we don’t do that mostly for public perception purposes,” explained Ray Dobert, a company official in charge of biotech regulatory policy at Monsanto, who often is tasked with public presentations for the company, the world’s leader in GMO seed production.

Labs containing much of Monsanto’s latest research in this

science remain closed to visitors, who nevertheless were able to tour parts of the facility, and to peer at its greenhouses, with plants growing under multihued lights.

For many years in the United States, corn, soybeans and other crops have been genetically modified to enhance their appearance or to improve yield, with no discernible negative health effects on the public.

Genetically modified food has been responsible for “not a single issue on food safety,” said Robert Fraley, Monsanto’s executive vice-president and chief technology officer. “Not a hiccup, not a stomach ache.”

Monsanto is the world’s top producer of genetically altered seeds, which it says are far more resilient against pests and harsh weather, yielding crops that are more abundant and more marketable.

Other genetically modified seeds are resistant to herbicides, allowing for spraying that will eradicate unwanted weeds and plants, but leave the desired crops unharmed.

Journalists assembled at the firm’s headquarters in Creve Coeur, a few miles from the research center on a recent visit hailed from skeptical Europe, where the public has been far more resistant to the promise of genetic manipulation.

Europeans -- and some Americans as well -- worry about the possible negative health and environmental consequences of crop varieties whipped up in a Petri dish, but Mr. Fraley dismissed such concerns.

The widely accepted belief in much of the United States that genetically modified foods are safe “does not prevent misinformation on the Internet, or... fear-mongering,” he said.

He also rejected criticism that farmers will become dependent on Monsanto products or that they are being duped into paying premium prices for the GMO seeds sold exclusively by the company.

“You might be able to fool a farmer a year. But they are savvy businessmen. No one can fool them to buy a product that does not add value,” Mr.

Fraley said.

In fact genetically modified crops, he said, are more needed than ever.

Mr. Fraley pointed to rising world population and the need to feed a planet where more people have entered the ranks of the middle class and demand more and better food.

The amount of arable land is finite, the scientists at Monsanto said, underscoring the need to create increasing crop yield per acre of land already in cultivation.

Scientists here also point to the inexorable march of voracious insects, which threaten to devour much of the world’s produce -- but not, they maintain, those crops they have genetically designed to repel them.

In the face of growing demand for its products, the company has boasted healthy revenue growth of 21% last year.

It plans to spend $435 million to expand its facilities here and says it plans to add 800 more researchers to its ranks. -- AFP

DA to boost cacao industry THE Department of Agriculture (DA) is bent on replicating technologies to boost the country’s cacao industry.

DA Undersecretar y for Special Concerns Bernadette Romulo-Puyat has visited cacao plantations and processing centers in Davao Region to observe and replicate technologies on cacao production in other parts of the country.

K n ow n f or it s g l o b a l m a r k e t potential, cacao has been identified as one of the priority commodities that will help boost the agriculture sector and increase the income of Rural Based Organizations (RBOs), particularly women’s organizations.

“Gusto ko lang tingnan dito ang role ng kababaihan at pati din yung mga post-harvest facilities on cacao production na gender sensitive at madali para sa mga babae dahil gusto nating bigyan ng kabuhayan ang ating mga kababaihan [I would like to look into the role of women in the cacao industry and also to check on facilities used in cacao production that are gender-sensitive that will be useful to women because we want to give them livelihood],” Puyat said.

Accompanying her are officers of the Rural Improvement Club (RIC) from Region 12 and Agusan del Sur Rep. Ma. Valentina Plaza.

Under the law, five percent of DA’s regional budget will be allotted to empower women.

Puyat particularly visited the Mars Cocoa Development Center (MCDC), Cocoa Philippines, and Shawn Askinosie located around Calinan, Baguio district.

In those areas, Puyat acknowledged how women in these areas participated in cacao production from planting to post-harvesting.

She said increasing production areas for cacao plantation is one of the priorities of the department.

She noted that DA will support farmers by providing them with quality planting materials.

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A Miner Joins the Building Boom in Davao City

N

ow fast rising along the main thoroughfare of Jose P. Laurel Avenue in Bajada, Davao City is a twelve story two tier gold and white laded structure housing the 300 rooms’ pure luxury of a business class hotel with a 1000 person’s set down capacity convention center.

The JTC Tower is a single proprietorship contribution of Rosario, Agusan del Sur, Businessman and G old Miner, Jose T. Cuyos to the tourism growth of Davao City.

Scheduled for a November 2014 opening, the JTC Tower will soon be the biggest hotel in Mindanao serving its local and international clients with the best quality in property management systems and tradition of world class Philippine hospitality. The hotel has a commanding

360 degrees view of the city proper and the Davao International Airport serving an ideal setting for top class night entertainment.

Davao City which is marketed as a choice convention destination in Mindanao and the BIMP member countries of the East Asean Growth Areas has a population of 1.5 Million which swells to 2 Million during the day as the convergence of travel by land, air and seaports starts by day break. Served by 72 incoming and outgoing domestic and international flights daily, the city is a metropolis of business and economic activity in the retail, food manufacturing and exports and the booming property development which is slow ly changing t he

skylines of the city. Davao City is also accessible through modern superhighways from Davao del Norte, Socsargen, Cotabato and Bukidnon and the Agusan Provinces.

Hourly schedules of Ferries transport holiday seekers and business commuters to the resort communities of Samal Island. It is one hour and 20 minutes to the agricultural city of Tagum which is the site of the biggest B anana Plant at ion and Exports owned by the heirs of Antonio Floreindo’s Tagum Development C ompany (TADECO) With excellent peace and order and low criminality index in the entire Philippines, the City is poised to host the 2015 Asia Pacific E conomic C o op erat ion meeting between the member

TRAVERSING the

Tourism H i - way

By Ped Quiamjot

countries which was last held in Bali, Indonesia.

Davao City has the benefit o f h av i n g w o r l d c l a s s convention facilities with the establishment of the SMX Convention Center along the SM Prime in Lanang District.

Two 5-star internationally managed hotels are also operating in the city.

Honoring Our War Heroes

W

hen I was growing up, my favorite World War II hero was Audie Murphy.

A most underrated soldier at the time of his enlistment, Murphy was initially rejected because he was under-height, underweight and underage.

Website: www.businessweekmindanao.com He emerged as the most E-mail : businessweekmindanao@gmail.com decorated hero by the end of the war.

Member: Mu r phy e ar n e d n ot only the Medal of Honor Philippine Press Institute but also practically all the other medals which the United States and other allied countries could confer.

At Mount Samat, focal site of our yearly Araw ng Kagitingan, a relief celebrates hink a minute…This is the lone Filipino Medal a true story about a boy A Minute of Honor awardee in the named Philip. Philip was 9

By Jhan Tiafau Hurst battle of Bataan. Sgt. Jose years old in a class of 8-yearCalugas, a native of Iloilo, was olds. The kids in his class were a member of the Philippine mean and unkind to Philip.

Scout. Although Calugas had They would not talk to him or training in artillery, on that let him play with them. Philip fateful day of January 16, suffered from a disease called 1942, Calugas was assigned Downs Syndrome, so his face on KP or “kitchen patrol”. In looked a little different and other words, he was cook his thinking and talking were for the day. slower than the other children’s.

When the fighting started, During the week of Easter an adjoining battery position the teacher gave each child a plastic egg that they could the class. Whatever had made was silenced by enemy fire open. Then she sent them him different was not important killing or wounding all the cannoneers. The cook set outside to find a symbol of or mentioned again. new life, such as a seed or Just a few months later, leaf, to put inside the plastic Philip died from an infection. egg. Sometime later all the On the day of Philip’s funeral children gathered around their his whole class of 8-year-old basket of eggs and watched boys and girls came to say as the teacher began to open goodbye to their special friend. ow that we are in Holy them. One child had put a And each child walked up to We ek, it’s go o d to flower inside her egg. All the Philip’s casket to place beside remind ourselves of how children thought it was a great it their gift: an empty egg. symbol of new life. In another Friend, if God the Son important it is to meditate egg was a butterfly that all the can make His love so real on the Passion of Christ. girls said was beautiful. and understood to a child like It’s the culminating act of Finally, the teacher opened Philip, then none of us has an his redemptive mission that the last plastic egg and there excuse for not understanding covers his whole life here on was nothing inside it. One how much Jesus loves us. earth. Everything that he is as child said, “That’s dumb!” God humiliated Himself by the Son of God who became Another kid said, “That’s not becoming a human being, not man, everything that he said fair!” Then the teacher felt only to die for all our wrongs and did for our salvation is someone pulling her hand. and forgive us, but then to contained there.

We have to understand, It was Philip. He looked up come back to life to show us at her and said: “It’s my egg. that He is God Himself Who on the basis of our Christian I left it empty because Jesus’ wants to give us new life. So faith, that the Passion of grave is empty. That’s why I won’t you ask Him today to Christ is an organic whole have new life.” The whole class forgive you and take full charge that includes his death on the was silent. From that day on, of your new life? Just Think Cross and his resurrection.

It is also organically linked Philip was accepted as part of a Minute…

T

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An Empty Egg

THINK

N

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 was recommended for the Medal of Honor. But he had to wait until the end of the war because when Bataan fell, Calugas was among the thousands who were forced into the Death March.

Bataan and other battle grounds produced at least 44 other Filipino heroes who received the Distinguished Ser vice Cross, the second highest US militar y decoration.

Among the Distinguished Service Cross recipients were Gen. Vicente Lim, Gen. Mateo Capinpin, Col. Jesus Villamor, Alfredo Santos, Macario Peralta and Ruperto Kangleon. Villamor also later received the Philippine Medal of Valor from President Ramon Magsaysay.

Three military camps are now named after Lim, Capinpin and Villamor, respectively. Alfredo Santos later became AFP Chief of Staff. Peralta became Secretary of National Defense. Ruperto Kangleon became Secretary of National Defense and later Senator. General Lim is also honored in the P1000 bill.

Two recent events provide a justification to review the heroic acts of our gallant soldiers.

Both President Clinton and President Obama have separately acknowledged that deserving heroes might have been unjustifiably passed over in the selection of Medal of Honor awardees because of racial bias.

In 2000 President Clinton corrected an injustice to 19 servicemen of Japanese ancestr y who fought in WWII by upgrading their Distinguished Service Cross to Medal of Honor. Among them was the late former Senator Dan Inouye of Hawaii (a very good friend of the Philippines.)

Ju st l a st March 1 4 , President Obama upgraded to Medal of Honor the previous

SPEAKING

O ut

By Ignacio Bunye

Distinguished Service Cross awards of 24 soldiers of either Jewish or Hispanic descent.

The honorees were among those who fought either in World War II, or the Korean War or the Vietnam War. Will there be a similar review for Filipinos soldiers who fought shoulder to shoulder with the Americans in Bataan, Corregidor, Leyte, Lingayen and Manila?

It a l l d e p e n d s h ow much persuasion President PNoy, Ambassador Albert Del Rosario and Secretary Voltaire Gazmin can exert on our “staunchest ally”. But it will not be as simple as that. A US congressional act BUNYE/PAGE 8

The Passion to everything else about him.

Nothing in his life is irrelevant or unnecessary in his Passion. It should not be considered in isolation. It’s good that we realize this truth of our faith more deeply and more practically, so that we don’t develop an unnecessary distorted attitude toward it that often translates itself into a certain dislike for it.

The Passion, in spite of its ugliness, pain and gore, is actually a beautiful, desirable event that we should get attracted to. In the first place, it is an essential and necessary element in our life.

We cannot avoid it without

compromising our eternal destiny.

And being God and not only as man, Christ makes his Passion take place live every time the liturgy of his Passion is celebrated. This is highlighted precisely during this Holy Week, but is actually presented to us also every time the Holy Mass or any liturgical act is celebrated.

And s o, w hen we participate in that celebration, we are actually, through the sacramental economy, living witnesses of the event, even if only in a sacramental way.

We become contemporaries of Christ in his supreme act

HINTS

and

Traces

By Fr. Roy Cimagala

of love for us.

Freeman ( Article MRec ), pagematch: 1, sectionmatch: Therefore, while involving cimagala/PAGE 8

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Land reaps P4-B net Cebu Pacific cleared to fly to Filinvest earnings in 2013, up by 14% Europe after FAA upgrade CEBU Pacific has secured clearance from Brussels to mount flights to Europe.

In a press conference, EU Charge D'Affaires Julian Vasallo today said Cebu Pacific may enter European airspace.

The decision comes hours after the US Federal Aviation Authority (FAA) upgraded the Philippines to Category 1 status, allowing Philippine Airlines (PAL) and other local carriers to add flights to and from the US. "The Air Safety Committee made a unanimous recommendation on the basis of the evidence it heard.

The recommendation was endorsed by the full College of European Commissioners that met just an hour or two ago in Brussels," Vasallo said.

The decision was based on evidence that Cebu Pacific and

the Civil Aviation Authority of the Philippines (CAAP) presented to show the airline can comply with relevant

aviation safety regulations.

The EU’s move comes more than a year after the International Civil Aviation

Organization (ICAO) lifted its significant safety concerns (SSCs) and following July last

CEBU PACIFIC/PAGE 8

Toyota recall covers 50,000 vehicles in the Philippines SOME 50,000 units of Hilux, Innova, and Fortuner sold locally between 2004 and 2010 are being recalled by Toyota Motor Philippines Corp. for possible air bag defect, the company yesterday said in a statement, a day after its Japan-based parent announced a global recall.

Toyota Philippines Vice-President Rommel R. Gutierrez yesterday said via

text that 47,012 units of Innova (sold between 2004 and 2009), 2,659 Fortuners (sold between 2004 and 2010), and 589 units of Hilux (sold between 2004 and 2010) are being called back to replace a defective component.

“Due to the shape and location of the spiral cable retainers, this may cause some connectivity loss related to the air

bag system. In such case, the driver-side air bag may not deploy in the event of a crash,” the car maker said in the statement.

Toyota Philippines, however, said there has not been any incident reported related to this defect.

It said replacement will be free of charge and that owners of the affected units will

TOYOTA/PAGE 8

FILINVEST Land, Inc. (FLI) reported that its net income rose 14 percent to hit P4 billion in 2013 from the P3.5 billion that it earned in 2012.

The firm said net income increased as a result of a 16 percent growth in total revenues from its residential, office and commercial business units to P13.6 billion in 2013 from P11.7 billion in 2012.

The growth in revenues was fueled by the 19 percent increase in Real Estate Sales to P10.5 billion from P8.8 billion in 2012.

Rental Income, on the other hand, contributed P2.03 billion to total revenues in 2013, or 8 percent more than the previous year’s P1.9 billion.

The hike in Real Estate Sales was driven by the sustained sales take-up generated during the year, as well as the completion of more mid-rise buildings (MRB) and house-and-lot projects.

FLI launched 17 projects in 2013, comprising of 6 new MRB projects and 11 new phases in existing horizontal projects.

Growth in rental revenues was due to higher rental income and sustained high occupancy in existing mall and offices spaces as well as from new spaces in EDSA Transcom Building and Northgate Cyberzone in Filinvest City.

Meanwhile, Equity in Net Earnings from FLI’s 20 percentowned affiliate, Filinvest Alabang, Inc. (FAI), the developer of the

244-hectare Filinvest City, in Alabang, Muntinlupa, remained stable at P187 million.

FAI sold lots with a total area of 1.7 hectares to various buyers in 2013.

Lot prices at Filinvest City have hit a high of P186,000 per square meter, significantly above the previous highest price achieved during the height of the property boom in 1997, right before the Asian Financial Crisis, and the price of P115,000 per square meter in 2012.

“Improved performance of the company in the future will be driven by the growth strategies that we have initiated recently and are now starting to pay off,” said FLI President Josephine Gotianun-Yap. S h e a d d e d t h at , “ i n tandem with the growth in FLI’s residential development business, we are now aggressively building up our recurring business with a much wider geographic coverage.

Yap said “we expect our leasing assets GLA to grow 2.5x over the next five years from 2013 levels. In line with this, FLI has acquired properties that are strategically located throughout Metro Manila, along or close to transportation lines and hubs.”

FLI is also adding commercial and retail spaces in strategic locations in Cebu and other selected areas. “As such, about half of our capex program will go to investments in recurring income,” said Yap.

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4Ps transformation of classes, educators' view By: ‘BASILISA G. GAYRAMARA Head Teacher II, Bulua Elem. School

“Children aged 3-5 years old who receive education grants must be enrolled in a day care or pre-school program and maintain a class attendance rate of 85 percent per month. Children aged 6-14 years must be enrolled in elementary or secondary school and maintain a class attendance rate of 85 percent per month.”

Thus, the upsurge in class attendance are now high.

The brilliant ones from poor families are now more active in classes. We owe it to the 4Ps program of the government.

The current program of the 4Ps have indeed transformed the classes into a very active and busy one. It has been observed that poverty has always a negative effect on the participation of students in the classes. The attitude of children from poor families attending school exudes inferiority complex. They recite less because they feel inferior. They seldom raised their hands because they felt unworthy. Compared to other children, they look at their baon and clothes as laughing stocks of those from well-to-do families.

With the 4Ps program, students from poor households are now nutritionally healthy and thus has the stamina to participate in all school activities inside or outside the classroom.

Studies revealed that students from low-income backgrounds are far less likely to achieve in school than those from better-off families. At the age of four, for example, a child living below the poverty line can be as much as 18 months under the academic standard for his age. Poorer children, therefore, often present a real challenge to educators.

But with the 4Ps support to d ay , ch i l d re n f rom low-income families can overcome these obstacles to become successful students.

From the educator’s view, the 4Ps has also setoff a challenge to teachers.

They can now set high expectations for students.

Educators now recognize

more t he p ote nt i a l of children from poorer backgrounds and actively encourage them to aim high.

They make sure that the student always know what is expected of him and consistently praise him for doing well.

Teachers foster respect in the classroom for different family structures and cultural backgrounds.

With 4Ps, poor children are less likely to fall behind as they won't feel isolated and disconnected in school.

With 4Ps it is easier n ow f o r e d u c at o r s t o encourage achievement in the classroom. It now challenges the teacher to become a positive role model by inspiring her students to succeed in their education an d l i ve s . T h e y n ow understand the difficulties and dis a dv ant ages of students from poor families and help them to care fort their individual success.

With 4Ps students now managed to participate in extracurricular activities more. Decreased absences, higher grade point averages and increased math and re a d i ng s c ore s are a l l higher among students who participate in extracurricular activities . Low income students that participate in them can enjoy their social and academic benefits.

The 4Ps program is not a dole out. Its not meant to make the poor become lazy and rely on the gov't.

It prioritizes human dignity through availability of equal opportunities. Everybody deserves a better future and this means everybody can be great if given the right opportunities.

Education is a basic n e c e s s i t y. I t d o e s n ' t guarantee you will be rich but if you have education you can change your life for the better. You cant get education on an empty stomach. That's why you need a jump start towards getting it. The 4Ps program may be “pantawid gutom” but the principle behind it is a person can only think better and do better when he has basic necessities such as food and education.

Bunye...

Cimagala...

is still needed to trigger the upgrade of our heroes.

--In the early 1990s when Muntinlupa was still reeling from the effects of a devastating typhoon, Don Emilio Yap donated P1 million for the relief of typhoon victims. And we did not even have to ask him for it. Once more, from Muntinlupenos, thank you Don Emilio. Rest well.

Note: For feedback, y o u m ay e m a i l u s at totingbunye2000@gmail. com.

extreme suffering that a man can experience, the Passion actually is also a joyful event of a victory, a conquest over what is most harmful to us-sin, and with sin our eternal death.

We should train our mind and heart to capture this wonderful reality, presented to us by our Christian faith, and to react accordingly, that is, to enter into the very dynamics of loving, and thereby bringing our fondness for loving to its ultimate level, extricating it from the low, base and often fake and deceptive forms of love.

In the Passion, Death and Resurrection of Christ, we see

from page 6

from page 6

in action those very consoling words of Christ: “Greater love than this no man has, that a man lays down his life for his friends.” (Jn 15,13) What actually takes place there is Christ, being sinless, assuming all our sins and dying to them so that we may have a way to resurrect from them through his own Resurrection.

This is the ultimate of love!

This much the Letter to the Hebrews affirms: “Christ offers himself only once to take the faults of many on himself, and when he appears a second time, it will not be to deal with sin but to reward with salvation those who are waiting for him.” (9,28) This is what supreme love is all about. It is not contented with wishing others well or sharing things with others. It will go to the extent of suffering for the others, making as one’s own the burdens of the others, even if the others would not correspond. It is a love that is fully given and completely gratuitous.

Thus, when we meditate on the Passion of Christ, we have to realize the love that drips copiously. We should not forget that sin is what causes it, and therefore, we should do everything to avoid sin.

It’s good to develop a healthy hatred of sin as well as a certain dominion over it, such that as much as possible we do not allow it to affect us badly. If ever, it should make us intensify our love for God and others, giving ourselves more and more in a crescendo typical of love.

We have to be very generous in our self-giving and continuing effort of sanctification, both personal and social. We have to be ready to carry out this task competently.

And since we cannot avoid sin, the meditation of the Passion should reassure us of the infinite mercy of God. We have to be very generous in our spirit of penance, always seeking conversion, renewal and the many forms of atonement, reparation and purification.

Special attention has to be given to the sacrament of confession, that wonderful tribunal of divine justice and mercy. We need to love it deeply by resorting to it regularly.

Cebu Pacific... from page 7

year’s lifting of the EU ban on PAL. The EU Air Safety Committee consists of aviation safety experts from each of the 28 memberstates of the Union, as well as from Norway, Iceland, Switzerland and the European Aviation Safety Agency.

"We are grateful to the EU for opening its skies to more flights from the Philippines.

This will afford your constituents better access to excellent tourist destinations across our islands, and will give our citizens convenient and affordable means of travelling to your countries as well," Transport Secretary Joseph Emilio Abaya said. “ This development is certainly a win-win for both the Philippines and Europe, and we are positive that this will boost not only tourism for both sides, but our trade and commercial relations as well," he added.

Cebu Pacific president Lance Y. Gokongwei said the lifting of the ban would enable the airline to continue flying to where Filipinos are.

"With nearly a million Filipinos working in the EU, we look forward to offering CEB's trademark lowest fares, and the most extensive router network in the Philippines," Gokongwei said, adding that the airline is still studying where to fly in Europe.

Gokongwei said the company will purchase 50 additional aircraft through 2021 for its expansion in Europe and the US. At present, the airline operates a fleet of 50 aircraft comprised of 10 A319s, 29 A320s, 3 A330s and 8 ATR-72 500 aircraft.

Toyota... from page 7

be notified.

Asked how the recall will impact the company’s target of selling more than 90,000 units this year, Mr. Gutierrez replied: “[We are] still assessing.”

R e ute rs re p or te d on Wednesday that Japan-based Toyota Motor Corp. would call back 6.39 million vehicles worldwide after discovering five kinds of defect involving parts ranging from steering to seats.

The world’s biggest automaker said it was not aware of any crash or injury caused by the defects, which were found in 27 Toyota models including the RAV4 and Yaris subcompact.

Defects were also found in the Pontiac Vibe and the Subaru Trezia, two models the automaker built for General Motors and Fuji Heavy Industries.

The automaker did not announce how much the recalls would cost, and it was not clear if the faults stemmed from Toyota’s suppliers or its manufacturing process.

Toyota’s 6.39-million-vehicle recall is the largest announced in a single day for the company since October 2012, when it called back 7.43 million Yaris, Corollas and other models to fix faulty power window switches.

online, TSI is embarking on an expansion to the ongoing project by more than doubling its capacity to “ensure that Mindanao will have enough power when demand catches up with supply again in 2017 and 2018,” said Benjamin A. Cariaso Jr., TSI president and chief operating officer.

Cariaso said it is not enough that Mindanao’s current power shortage is being addressed.

TSI’s expansion program was approved last month by the Davao City Council.

The first 300-MW capacity of TSI is almost contracted out to distribution utilities and electric cooperatives in the region while its expansion is set for completion in 2017 and 2018 when demand for power in Mindanao will be expected to exceed supply once again.

Misor... from page 1

She said that the HAB patches are still present in the coastal areas of Balingasag, Jasaan, and Tagolo-an, all of Misamis Oriental.

In Misamis Occidental, the discoloration of seawater is still visible in the coastal towns of Lopez Jaena, Jimenez, Tudela and Aloran.

Water discoloration is still present in the coastlines of Kauswagan and Bacolod, all of Lanao Del Norte and the portion of the Murceillagos Bay in Misamis Occidental still covered by the HAB, particularly the coastal town of Balingao, Cabig said. (PNA)

Coast guard... from page 1

Safe Travel) in preparation for the week-long celebration of the Lenten Season this week.

Lt. Cmdr. Eleazer Dalnay of the Philippine Coastguard here, said on Friday that the operational plan calls for the establishment of “passenger assistance center” at the Port Area so that the problems of the travelers here could be immediately attended to.

He said that the coast guard would also put up a medical station at the Port Area where medical personnel could extend assistance to passengers.

According to Dalnay, PCG personnel would also assist passengers, especially the unaccompanied senior citizens in resolving ticketing problems.

Aside from the usual services, the PCG authorities will also conduct inspections of all passenger vessels to make sure that the vessels are seaworthy, he said.

He said that all crew members of the passenger vessels would also be subjected to verification and review to make sure that the licenses and eligibility of the crew members are in place. “ We w o u l d t a k e a l l necessary steps to make sure that both the passengers and vessels are safe as people from all walks of life, travel during the Lenten Season in Northern Mindanao,” Dalnay added.

(PNA)

TSI...

from page 1 and affected by weather conditions. A total of 1,600 MW additional capacities are needed in the planning period to meet the electricity demand and the required reserve margin of the grid,” the DoE said.

Energy Secretary Carlos Jericho L. Petilla said that as of December 2013, the system gross reserve for Mindanao is a negative 65-MW while the committed power project only totaled 580-MW. These are the 300-MW of TSI, which will go online in the second half of 2015; Sarangani Energy Corporation’s 200-MW coal-fired power plant, which will go online on February 2015; and Energy Development Corporation’s 50-MW Mindanao 3 Geothermal project, projected to be commission on June 2016.

The 15-MW diesel power plant of the Mapalad Energy Generating Corporation and the 15-MW HFO peaking plant of the EEI Power Corporation went online on October and August 2013, respectively.

Therma South Inc. (TSI) is currently constructing what is touted to be the largest baseload coal-fed power plant in Mindanao, the 300-MW coal-fired power plant, in a contiguous area straddling Barangay Binugao in Davao City, and Barangay Inawayan in Sta. Cruz, Davao del Sur. But a year before it will go

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Billboard

From Average to Amazing—Heat up your summer eats with Rustan’s Supermarket

S

tock up your summer pantr y with these great food finds and let Rustan’s Supermarket be your partner in making your summer favorites— appetizers, main dishes, and even desserts—all the more irresistibly delicious.

Take a fresh start with a healthy salad, amped up with an added burst of flavor. Try the Waitrose E s s e nt i a l R e d Wi n e Vinegar to add a thicker flavor to your greens, the Carmencita Black Pepper with Grinder to enhance taste, and the Waitrose 100% Greek Olive Oil for a refined finish.

Next, make your all-

time favorite beef kebab your go-to summer meal—with a twist—by spicing it up with the right flavors from Rustan’s Sup e r m arke t , su ch a s the McCormick Spanish Paprika and the La Rambla Extra Virgin Olive Oil. E nj o y y o u r s av o r y kebab with heaps of tasty Lemon Saffron Rice, made from Rustan’s Supermarket’s Healthy Rich Basmati Rice that’s spiced up with Waitrose Cook’s Ingredients Saffron.

Finally, end your juicy beef meal with Nancy’s Whole Milk Plain Yogurt, a healthy but definitely i n du l g e nt a n d f itt i n g

choi c e to cl e ans e t he palate.

Of course, with summer nig ht-outs c a l ling for breezy outdoor barbecues, make your grilled corn taste even better by glazing i t w i t h Na c r o S a l t e d Butter, or go for a hotter or tangier kick with the Thai Her it age Samb a l Sauce or the Stonewall Kitchen Maple Chipotle Grill Sauce.

A sweet ending to your summer meals, make your Peach Crème Fraiche more delectable with whiskey caramel sauce that you can concoct yourself using the Waitrose Blended Scotch Whiskey. Also tr y the

Effect of internet accessibility toward pupil’s academic performance

T

By GEMMA ETHEL B. ONG, Ph.D. Principal I, Iponan Elem School

he use of the Internet in the educational environment has enabled easy access to many resources, and information sharing . Therefore, it also s i g n i f i c ant ly i nc re as e d children’s interest, attention and focused of the Internet.

The number of existing educational resources in the Internet has increased so that it is possible for pupils to prepare assignments and projects in any place where the internet is accessible.

However, the competence of information resources, authors’ experience and their academic qualifications should be considered carefully.

The differences between information presented by authors who are qualified and those who are not, are issues that should be addressed. Writing style and unity of subject matter attracts attention immediately and can be easily understood but those who are less qualified should not be taken seriously.

Although the efficiency of this technology is evaluated with use of proportion of the desired results in pupils’ achievement, it does not exactly come out and is difficult to determine.

The effect of the usage of internet among pupils

is varied. They sometimes, use the Internet for reasons other than educational, like games that depict violence.

Addiction to these internet games may even hamper the pupil’s academic performance.

Accessing purely entertainment-oriented games will undoubtedly have less of a positive impact on kids’ learning than would games with educational content incorporated into the games . For example, there are Cyberchase games that the same time are entertaining and also contain contents that exercises problem solving, math, geometry, science, etc.

One of the many ways that the Internet can help is to move education out of the classroom and create support anywhere, anytime for students.

Inte r ne t a c c e ss c an help pupils to be fluent in technology. They are now comfortable in researching information, and with the fluency of information.

Also, home Internet use benefits the academic performance of children as young as age 10 . If they have more time online they can improve their reading comprehension and total reading scores higher. This was attributed to the text-

heavy nature of the Internet.

Children logged on primarily to surf the Web. Web pages are heavily text based.

Thus, whether searching for information about schoolrelated projects or searching for information about personal interests and hobbies (e.g., rock stars, movies), children who were searching the Web more were reading more, and more time spent reading may account for improved performance on standardized tests on reading.

Internet usage may result into higher standardized test scores in reading: “More time online was associated with higher reading comprehension and total reading scores, according to a study.” They attributed these results to the text-heavy nature of Internet C hi ldren log ge d on primarily to surf the Web. Web pages are heavily text based. Thus, whether searching for information about schoolrelated projects or searching for information about personal interests and hobbies (e.g., rock stars, movies), children who were searching the Web more were reading more, and more time spent reading may account for improved performance on standardized tests of reading which depend heavily on reading skills.

Molinera Peach Halves and the KG Plain Flower Rolls for an easy-to-prepare summer dessert.

Ye s , t he s e c e r t i f i e d pantr y must-haves and ingredients from Rustan’s Supermarket can make all the difference in this season’s summer eats.

Rustan’s Supermarkets are located in Centur y City Mall, Greenbelt 1, Makati; Glorietta Makati; Paseo Center, Makati; San Antonio Plaza Arcade, Forbes Park, Makati; Paseo de Magallanes, along South Superhighway; GF Metro Pointe Center, P. Guevarra, San Juan; Shangri-La Plaza mall; Corinthian Hills; The Gateway Mall, Araneta Center; Katipunan, Quezon City ; Il Terrazzo Mall, Tomas Morato, Quezon Cit y ; Fair v ie w C enter Mall, Quezon City; EVIA Lifestyle Center, Daang Hari, Las Piñas; Ayala Alabang Village; Ayala Center, Cebu; Arcenas Estates, Banawa, Cebu; and Centrio Mall, Cagayan de Oro City. Also, visit Marketplace by Rustan’s at Rockwell Powerplant Mall.

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Big savings.

High fidelity sound. Better deals.

Enjoy hefty savings on your purchase of beats by dr. dre Solo HD or Pill using your BPI credit card from April 1-May 31,2014. MSI-ECS, the sole distributor of beats by dr. dre in partnership with BPI Credit Cards offer a PhP4,000 discount on every purchase of the participating models at 12-month Real 0% interest on installment.

Customers can choose from black or white colors for Solo HD while Pill is available in black, white, red, and nicki-pink variants.

Beats Solo HD headphones are made for music lovers looking for high definition headphones that look as good as they sound. Beats Solo HD headphones combine advanced driver technology and premium design for headphones that deliver legendary Beats by Dr. Dre sound and are lightweight and durable. Equipped with the ability to receive a wide range of frequencies, these headphones allow users to experience every beat and sound that is projected by the musical track. These overthe-head headphones are designed to comfortably sit on the head and relieve pressure on the ears.

The Beats Pill is a powerful, compact and portable wireless speaker featuring high fidelity audio transmission over Bluetooth or NFC.Despite its compact size, the Beats Pill produces powerful sound. It’s easy to enjoy soaring highs and deep, booming bass in every room of the house. The Pill is Beats' smallest wireless speaker and completely cord-free.

This promo is available at the following retail outlets: • Abenson (Glorietta 1) • Astroplus (Greenbelt 5, SM Aura, SM MOA, Shangrila Mall, VMall) • Automatic Center (Trinoma, Gateway, Glorietta4) • Avant (Greenbelt 4, Trinoma) •Beyond PC (SM Megamall) • Beyond the Box (VMall) • Complink (Alabang Town Center, Glorietta 1, Robinsons Galleria, SM Megamall, SM MOA, SM North Edsa, Shangrila Mall, Trinoma) •Gadgets in Style (Marque Mall, Trinoma) • PC Express (Alabang Town Center, Market Market) • Robinsons Appliances (Glorietta 5) • Switch (Alabang Town Center, Glorietta , Marque Mall) Beats by dr. dre audio products are solely distributed in the Philippines by MSI-ECS. Please email marketing@ msi-ecs.com.ph or call 688-3180 to 83.

MISAMIS ORIENTAL – To make the Jamboree more lively and happy, VICE GOVERNOR JOEY G. PELAEZ invited artists to perform during the Chairman’s Night of the “A Happy MisOr Invitational Peace Jamboree.” They were Tippy Dos Santos (Galema), Yves Flores (Got to Believe), and Myrtle Sarrosa (PBB Teen Edition 4). Also in attendance and witnessed the performances of the artists were local government officials of the province, the Barangay and the Municipality of Tagoloan.

Before they performed in the Jamboree, the artists made a courtesy call to Vice Governor Pelaez’s office at the Provincial Capitol.

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MON-tuesday|April 14 -15, 2014

Banking&Finance

BIR keeps April 15 tax payment deadline despite holiday breaks ALL taxpayers are urged to pay their annual income taxes ahead of the holiday break as the Bureau of Internal Revenue (BIR) has no plan to extend the deadline for submission.

BIR Commissioner Kim S. Jacinto-Henares said the government’s main tax agency is keeping the April 15 as deadline for the filing of last year’s income tax returns (ITR).

Failure to submit their ITRs will resulting in a penalty of 25 percent and 20 percent interest per annum, she said.

Jacinto-Henares, meanwhile, is hopeful BIR could again exceed the year’s largest monthly collection goal in April, where also deadline for filing ITRs falls.

The BIR chief hopes that taxpayers would take their campaign against tax cheats “very seriously” this time and pay correct taxes to the government.

The BIR is tasked to collect a record P176.51 billion in taxes next month, higher by 18 percent compared with its

above-target P148.99-billion revenues in the same month last year.

“We’ve been very consistent with the actions that we’re taking, it’s not just a flash in the pan. Hopefully people would take that very seriously,” Jancinto-Henares said.

In April 2013, the BIR,

whose collections accounted for more than 60 percent of the government’s annual income, surpassed its target by 4.4 percent and registered a 28 percent year-on-year growth.

For this year, the BIR is tasked to collect another record P1.456 trillion in taxes, higher by 19 percent compared with

its actual revenue take last year.

The BIR expects to generate its biggest quarterly collection for the year in second-quarter, while the it sees revenues in the first-three months to be the slowest period.

By tax type, the BIR expects revenues from net income and profits to reach P855.77 billion, while value-added tax would contribute P325.74 billion, another P124.17 billion in excise taxes as well as about P72.06 billion in percentage taxes and P78.24 billion in other taxes.

In January to March, the BIR is targeting P299.35 billion in revenues, equivalent to 20.5 percent of the agency’s full-year target, while the in second quarter, it expects collection to reach P417 billion, or about 28.3 percent of its 2014 goal.

I n Ap r i l , w h i c h i s traditionally the BIR’s strongest month because of the yearly deadline for filing income tax returns, revenues are expected to amount to P176.14 billion.

BIR/PAGE 11

okays Security Borrowers of closed Davao BSP Bank’s capital hike rural bank told to pay dues THE Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Rural Bank of Montevista (Davao del Norte), Inc., reminded borrowers of the bank to continue to pay their loans and transact only with authorized PDIC representatives.

In a statement, PDIC advised borrowers of the Rural Bank of Montevista to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL RURAL BANK OF MONTEVISTA. The Receiver cautioned b or rowe rs t h at it h a s discontinued the engagement of the bank’s collectors.

PDIC has not engaged any person to collect the loans of the bank. To ensure proper recording of payments made by borrowers, it further advised

borrowers to keep copies of the PNB Deposit/Payment Slips.

The Receiver emphasized that only payments with validated PNB Deposit/ Payment Slips shall be considered valid payments.

Official receipts will be issued

by PDIC upon validation of payments. For proper accounting of their payments, borrowers who do not receive their official receipts are advised to send a copy of their deposit slips by mail to the Deputy Receiver for loans Ms. Ma. Nenita N. Gayla at the PDIC Office, 5th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino St., Makati City or send via e-mail to Ms. Gayla at mngayla@pdic.gov.ph or to Ms. Bettina Acosta at bnacosta@ pdic.gov.ph.

The Monetary Board (MB) placed the Rural Bank of Montevista under the

receivership of the PDIC by virtue of MB Resolution No. 407 dated March 6, 2014. As Receiver, PDIC took over the bank on March 7, 2014. Upon takeover, all bank records were gathered, verified and validated.

Rural Bank of Montevista is an 11-unit rural bank with Head Office located in Sobrecary, City of Tagum, Davao del Norte. Its 10 branches are located in Laak, Mawab, Monkayo, Montevista, New Bataan and Pantukan in Compostela Valley; Bayugan, San Francisco and Trento in Agusan del Sur; and in Mati, Davao Oriental.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department III at (02) 8414963 or 841-4970. Queries may also be sent through email at pad@pdic.gov.ph.

R E G U L AT O R S h a v e approved Security Bank Corp.’s bid to increase its authorized capital stock by P100 million through the issuance of dividend-paying preferred shares.

In a disclosure to the Philippine Stock Exchange (PSE), Security Bank said the Bangko Sentral ng Pilipinas gave the clearance yesterday, raising the bank’s capital to P10.1 billion.

“The amendment is part of the bank’s capital program to provide incremental equity and indirectly improve the trading dynamics of the bank’s common shareholders,” the disclosure read.

The preferred shares will not be listed on the stock exchange and cannot be converted into common shares, but investors who hold them have voting rights and receive an annual dividend rate equivalent to the 10-year BSP/PAGE 11

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OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274

METRO BANK- COGON Osmeña Hayes St. Cdoc | 726438/8572057

ASIA UNITED BANK Cor.Camp Alagar Road Lapasan, Cdoc 729678 / 8568893

METRO BANK- CARMEN Max Suniel St. Carmen, Cdoc 8581722/ 8585162

BDO – VELEZ Velez-Rn Abejuela Street, Cdoc 2314246/8572075

METRO BANK- LAPASAN CM Recto Lapasan HW, Cdoc 724461/8561721

BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637

METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924

BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796

METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731

BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405

METRO BANK- GAISANO 8561720

BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN

CM Recto Ave. Lapasan, Cdoc, 8563991/727731

BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602

PLANTERS DEVELOPMENT BANK

Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723

PNB- LKK MALL NORTH CONCOURSE

LKK Mall N.Concourse Cdoc 8574149/8575682

PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992

BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406

PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438

BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263

PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184

BPI- COGON Osmeña St. Cdoc 8571297/8571298

PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386

CHINA BANK –GAISANO 745887/745880

QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390

CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366

RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.

#58 Tiano FernandezSt.CDO 727215/ 8563552 *805

DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649

SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774

DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

SECURITY BANK- LKK Limketkai | 8801258/8801625

EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081 EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331 ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999

City Treasurer Glenn Banez orients Mayor Oscar Moreno and City Kag. Candy Darimbang tests the new machines at the new City Welfare Officer Teddy Sabuga-a on the new City Treasurer’s Office Treasurer's Office at City Hall photos by Mike Banos

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558

METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415

SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632 STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168 UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO

Capistrano Corner CruzTaal St. CDO 8524099/722695

UCPB BANK SAVINGS- OPOL Gf forever Books Bldg.Bulua National CDO 754519/8588063 UNION BANK Lapasan Cm.Recto Cdoc | 8566847/8563805 WEALTHBANK Velez Gomez St. Cdoc | 8568942/722174 1ST VALLEY BANK Vamenta Blvd. CornerLirio St. Carmen, Cdoc 8501871/ 8584146 OROBANKERS CLUB Inc. Pnb Carmen | 09151850242

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MON-tuesday|April 14 -15, 2014

The K to 12 Curriculum will produce holistically developed learners with 21st century skills By : ELBERT R. FRANCISCO EPS-Mathematics

PARTNERSHIP. Governor Bambi Emano expresses his felicitations to MUST President Dr. Ricardo Rotoras after the MOU signing over planned Misamis Oriental Agri-Science Park and Complex.

Pnoy... from page 1

Bangsamoro autonomous entity that seeks to be the institution that responds to t he s el f - gove r n anc e aspiration of the Moro people,” it added.

Abdullah Cusain, BTC communications officer, told MindaNews that the BTC commissioners will come in full force to submit the draft BBL to the President.

The 15-man BTC is chaired by Mohagher Iqbal, also the chair of the MILF peace panel.

Iqbal said in a recent e ve nt i n Mag u i nd an a o that the passage of the BBL “remains on track,” noting the March 31 deadline of submission to Aquino “was a self-imposed deadline of the BTC.” Aquino has repeatedly said that he will certify t h e B B L a s a pr i or it y legislative measure of the administration.

Congress is on a break and will resume its session on May 4. Senate President Franklin Drilon and House Speaker Feliciano Belmonte Jr. earlier vowed to have the BBL approved “on or before December 31, 2014.”

The MCSOPP said the submission of the draft BBL is an important step towards “making the letter and spirit of the CAB a reality.”

There will be a rally at Mendiola on Monday at 2 p.m., simultaneous with a press conference at the second floor of JollibeeMendiola branch, the group said.

“Mendiola is a hallowed ground for the country’s struggle for nationalism, democracy, and freedom from oppressive social, economic, and political structures. On Monday, we hope to celebrate here the dawn of a hopeful future for the Bangsamoro people and for Mindanao,” they said.

The rally will gather Moro and civil society leaders to call for Congress to speed up the enactment of the BBL, the MCSOPP said.

MCSOPP is a network of Mindanao civil society organizations accompanying the GPH-MILF peace process. It has been engaged with the BTC in the conduct

of public consultations for the drafting of the BBL. It will continue to engage communities in the core territory of the proposed B angs amoro and ot her communities in Mindanao and the rest of the country for Congress to enact the BBL the soonest time possible.

BIR...

from page 10

By the end of June, the BIR is projecting that revenues would reach P716.35 billion, equivalent to about to 49.2 percent for the year’s collection target.

In the third-quarter, the government’s tax agency is aiming to generate P365.37

billion, or 25.1 percent of its 2014 target, while in the final three-months of the year, the BIR is looking at P380.26 in revenues, equivalent to 26.1 percent of the target.

BSP...

from page 10

benchmark rate.

The new shares have a par value of P0.10 each. The bank created one billion of these preferred shares, and already issued 602.83 million of them.

The central bank approved revisions to Security Bank’s Articles of Incorporation to reflect

the increase in capital stock.

The bank said it will next secure clearance from the Securities and Exchange Commission.

Meanwhile, in a separate press release yesterday, Security Bank announced that SB Rental Corp., a wholly owned subsidiary of SB Capital Investment Corp. of the Security Bank Group, is partnering with CATS Motors, Inc. to launch a car leasing program.

The new offering, dubbed as the “Star Lease Program”, targets luxury car owners that change cars every two to three years.

It will be available for the Mercedes-Benz brand.

The K to 12 curriculum is designed to developed a learner who possess a healthy mind and body; has a solid moral and spiritual grounding; has essential knowledge and skills for lifelong learning and selfactualization; engages in critical thinking and creative problem solving; contributes to t he de velop e d of a progressive,just,and humane society; is proud to be a Filipino; and appreciates the beauty around him/her and cares for the environment for a sustainable future. The K to 12 curriculum will be seamless and continuous, around him/her and cares for the environment for a sustainable future. The K to 12 curriculum will be seamless and continuous , decongested and enriched, research-based and learner-

centered. It will also put an emphasis on the role of co-curricular activities and community involvement in maximizing learning.

Kindergarten will be integrated into the basic education system, which is a bold step toward making all Grade 1 students a reader.

Senior High School will be an alignment with the 21st century skills and college readiness standards of CHED. The curriculum will focus on the core subjects, namely, Math ,Science and English with electives that are sensitive and responsive to the learners’ interest and local industry needs.

Graduates will be accredited in their areas of specializations which include Academics, Te chnica lVocational, and Sports and Arts.

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