BusinessWeek Mindanao (April 24, 2020)

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Briefly No operations HOLCIM Philippines Inc. reported that it has suspended operations in its Davao City plant in compliance with the City government’s order imposing an enhanced community quarantine (ECQ).

In a disclosure to the P h i l i p p i n e S t o ck E x c h a n g e, Holcim said the suspension in operations will be from April 4, 2020 until April 19, 2020, or until the ECQ is lifted or withdrawn.

“Our Lugait Plant in Misamis Oriential will continue to operate and serve the requirements of our business partners and customers in Northern Mindanao and the Visayas,” the firm said.

Tax payment extended FINANCE Secretary Carlos Dominguez III has issued the revenue regulations extending t h e d e a d l i n e s fo r f i l i n g o f tax retur ns, submission of documents, and the payment of taxes, pursuant to Republic Act 11469, otherwise known as “Bayanihan to Heal as One Act.” According to Revenue Regulations (RR) No. 7-2020 dated March 30, 2020, the extension aims to relieve Filipino taxpayers who will not be able to prepare, let alone file, the necessar y documents under the Tax Code because of the enhanced community quarantine (ECQ) and other restrictions on the personal movement being implemented by the national and local governments to prevent community transmission of the coronavirus disease.

Section 4(z) of the Bayanihan Act, which placed the Philippines in a state of national emergency, grants the President the authority to “move statutor y deadlines and timelines for the filing and submission of any document, the payment of taxes, fees, and other charges required by law.”

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Four months installment on electric bills ordered Thank you for trusting us!

By MYRNA M. VELASCO Contributor ONSUMERS are given leeway to pay their electric bills spread over a four-month period once the enhanced community quarantine (ECQ) is lifted by the government.

C

That is based on a directive issued by Energy Secretary Alfonso G. Cusi to public and privately-owned corporations and entities in the restructured electricity sector. “ The accumulated electricity bills falling due during the ECQ shall be amortized in four equal installments, payable in the first four months following the end of the ECQ,” the energy chief has emphasized.

The DOE directive f u r t h e r s t ipu l at e d “a l l

electricity consumers shall be provided a grace period to pay their bills falling due during the extended ECQ periods without interest, penalties, fees and charges.”

Given the energy chief ’s mandate, the Energ y Regulator y Commission (ERC) has been subsequently asked to issue the detailed guidelines on the fourmont h i nst a l l me nt s of ECQ-heaped up power bills.

ORDERED/PAGE 6

MARITIME PATROL. Task Force Davao personnel conduct maritime patrol along the shorelines of Barangay 23-C on Wednesday in connection with the lockdown of Purok 3, Purok 4, and Purok 7, known COVID-19 hot spots in Davao City. Also on lockdown is Purok 9 of Barangay 21-C. The 24/7 patrol coverage is provided by the Philippine Coast Guard Davao, Philippine Navy, Maritime Police and TF Davao. Photo courtesy of Task Force Davao

Duterte eyeing class Davao del Norte cacao farmers suspension until Dec. show gains from PRDP funding

By RUTH ABBEY GITA-CARLOS, PNA

DAVAO City — The nearly P1 billion worth of funding obtained by Davao del Norte from the PRESIDENT Rodrigo Duterte in December to effectively Philippine Rural Development Project (PRDP) will carefully study the c ont a i n t h e s pre a d of is starting to show results in the cacao industry.

Davao del Norte, whose main agricultural proposed class resumption SUSPENSION/PAGE 6 products are banana and coconut, bagged P929.6 million worth of cacao-related sub-projects

under the World Bank-funded program.

This includes P261.63 million for farm-tomarket roads and 14 projects related to cacao production and marketing proposed by various local government units within the province.

Joseph D. Rico, PRDP-Mindanao monitoring and evaluation head, said FUNDING/PAGE 6

Filinvest group heeds LGUs call for more PPEs donation

Filinvest donates personal protective equipment (PPE) to the local government of Villanueva, Misamis Oriental.

HEEDING the call from both provincial government of Misamis Oriental and the city Cagayan de Oro for more help in their fight against COVID-19, Filinvest Development Corp. (FDC) has turned over personal protective equipment (PPE) for front-liners who risk their lives attending to the increasing

number of persons under investigation here.

The giving of PPE donations comes at a time the Department of Health (DOH) in northern Mindanao has recorded more confirmed cases in Misamis Oriental and Cagayan de Oro City.

“Filinvest and the Provincial Government of Misamis Oriental and the City government DONATION/PAGE 6

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FRIDAY | APRIL 24, 2020

Sweeper flights, nakasulbad sa stranded foreigners sa MisOr

WALA damha ni bisan kinsa nga adunay umalabot nga krisis sa ekonomiya ug panglawas ang tibuok kalibotan. Sa wala pa misiaw ang pagtakboy sa coronavirus disease 2019, sagad kanato pulod bakasyon ang giatiman. Ang ubang turista ug bakasyonista

nangatanggong intawon sa lugar kung diin sila naabtan sa lockdown. Apan, pinaagi sa kamanduan

ni Gov. Bambi Emano nga gipatuman karon sa iyang pamunuan ug lokal nga pangagamhanan

sa Laguindingan, Misamis Oriental, nahupay intawon ang kabalaka sa atong mga turista.

Camiguin temporarily closes 11 public roads CAMIGUIN —The provincial government here implements the temporary road closure of specific roads during the observance of the community quarantine to contain the spread of coronavirus disease (COVID)-19, April 20 through Provincial Ordinance No. 2020-31.

The 11 provincial roads are temporarily closed for commuters and pedestrians traveling in as ingress or egress since there are provincial roads connecting the municipalities which are unmanned by authorities and health personnel due to its limited manpower.

“These roads could

be used by some persons as an alternate route to escape quarantine checkpoints unless closed for commuters until the community quarantine is lifted,” Gov. Jurdin Jesus Romualdo said.

The provincial roads temporarily closed include 1) Payahan-Itum-Mainit ROADS/PAGE 6

P65-M cash aid distributed

CARE Ph distributes food packs, to 13K NorMin rice farmers multivitamins to Marawi IDPs OVER P65 million cash aid has been distributed to rice farmers in Bukidnon and Lanao del Norte beginning Monday, April 20, as part of the government's initiative to ease the impact of the quarantine measures on the agriculture sector.

In a statement Tuesday, the Department of Agriculture in Region 10 (DA-10) said the initiative under the Rice Farmers Financial Assistance (RFFA) of the Rice Competitiveness Enhancement Program (RCEP) aims to help

13,036 farmers in the two provinces.

At P5,000 per household, the financial aid is granted to smallscale rice farmers tilling rice field two hectares and below.

"The rice farmers entitled of this grant are duly validated and are registered to DA's Registry System for Basic Sector in Agriculture (RSBSA)," said DA-10 OICExecutive Director Carlene C. Collado.

DA-10 Technical Director Carlota S. Madriaga said: "This assistance is given to eligible

rice farmers affected by the Rice Tariffication Law (RTL) due to low buying price of palay."

Madriaga said the aid also intends to support the farmers in procuring farm inputs and foods during these trying times.

Collado and Madriaga hoped that the aid will encourage more productivity to stabilize the market amid the quarantine measures to contain the 2019 coronavirus disease. (PNA)

MARAWI City -- A total of 2,170 displaced families sheltered in different transitory shelter sites in this city received five (5) kilos of red rice, five (5) packs of noodles and one (1) blister of multivitamins from CARE Philippines amidst the coronavirus disease (COVID-19) pandemic.

As part of its commitment to promote health and nutrition, CARE also conducts regular check-ups to monitor the health condition of the internally displaced persons (IDPs). The health

monitoring is led by a team of registered midwives and nurses.

"Ramadhan is approaching and our Muslim sisters and brothers will need support to be able to practice our faith even amidst this COVID-19 crisis," said Omel Guro, CARE Monitoring and Documentation Officer.

With the help of volunteers from Ad Finem Charitable Foundation, CARE was also to distribute the food packs to the IDPs in transitory shelter sites in barangays Boganga and Mipaga,

Catholic Relief Services housing project in barangay Rorogagus, Rorogagus Phase II transitory shelter and in Areas 4 and 6 of Sagonsongan transitory shelter site.

CARE also distributed 100 personal protective equipment (PPEs), 100 face shields, and 15 boxes of face masks to Amai Pakpak Medical Center; 50 PPEs and 15 boxes of face mask each to the Marawi City Health Office and Integrated Provincial Health Office. (CARE Philippines)

3 Manufacturers asked to slash canned goods prices Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

FRIDAY | APRIL 24, 2020

LABAN Konsyumer, Inc. (LKI) has urged canned goods manufacturers to lower the prices of their products as world oil prices continue to stumble.

During the virtual presser of Tapatan sa Aristocrat on Wednesday, LKI President Victorio Mario Dimagiba said they should implement at least a 5-percent

CorporateWorld

price cut on their canned goods products.

“Five percent at the minimum, but let the manufacturers decide if they can do it higher,” said Dimagiba, who is also the former undersecretar y of the Department of Trade and Industr yConsumer Protection Group.

Federation of Filipino-Chinese Chamber of

Commerce Henr y Lim B on Liong also agreed that manufacturers should look into lowering prices of canned goods amid the falling crude prices in the world market.

As of this writing, World Texas Intermediate crude is trading at $12.67 per barrel while Brent crude at $18.63 per barrel.

Data from the DTI show that

PSALM provides grace period, staggered fees for energy sector THE GOVERNMENTowned Power Sector Assets and Liabilities Management Corp.

(PSALM) is providing power stakeholders with a grace period of paying their fees which due dates fall during the period of the enhanced community quarantine (ECQ), as well as it is allowing them to pay their dues in

installments in the next four billing months.

On Tuesday, PSALM released its latest advisory adhering to the recent orders by the Department of Energy and the Energy Regulatory Commission on the payments of dues and obligations within the energy sector, as the ECQ, which was originally set to end on April 14, was

extended up to the end of April.

Payments of PSALM’s fees on power billings and ancillary services that fall within the quarantine period from March 15 to April 30 were put on hold.

The order covers payments of distribution utilities, industries, ecozones and government SECTOR/PAGE 6

suggested retail prices (SRPs) of 155-gram canned sardines range from P13.25 to P17.25.

SRP of 150gram corned beef

is between P18.50 and P32, while for 170-gram ranges between P29 to P37.

Other canned goods considered as basic necessities

and prime commodities include condensed and evaporated milk, luncheon meat, meatloaf, and beef loaf.

(PNA)

SEC tracks down 4 additional unauthorized investment schemes THE Securities and Exchange Commission (SEC) has identified four more unauthorized investment schemes, including rackets possibly operated by previously flagged groups under new names.

In separate advisories issued on April 21, the commission warned the public against dealing with Viceem Help Worldwide/ Viceem Help by Millionaire Maker Team, Nexus P Capital by GK Marketing Limited, and My Profit Robot (MPR).

In an earlier advisory dated April 15, the SEC likewise flagged the unauthorized investmenttaking activities of Norway International OPC. Viceem Help Worldwide/ Viceem Help, Nexus P Capital and its operator GK Marketing, MPR, and

Norway International have not secured from the Commission the necessary licenses to solicit, accept or take investments from the public, as required under Republic Act 8799, or The Securities Regulation Code.

Based on reports from the public and as posted on its Facebook Messenger Group, Viceem Help Worldwide/ Viceem Help is simply the new name of Azenzo-Online whose unauthorized investmenttaking activities have been flagged earlier.

The investment scheme of Viceem Help Worldwide/ Viceem Help resembles that of AzensoOnline, which promises a 30 percent to 100 percent return on investment within five to 20 days under a scheme similar to that of Kapa-Community Ministry International.

Nexus P Capital also operates an investment scheme that the SEC has warned the public about earlier this month. Like Cryptec, the scheme operated by a company purportedly incorporated in the United States offers cryptocurrency and foreign exchange trading accounts promising lucrative returns.

Its online trading platforms are supposedly tailored to minimize the chances of an unsuccessful trade, offering a 1:2 to 1:20 leverage for cryptocurrency trading and 1:100 to 1:400 for forex trading.

The leverage system essentially allows investors to cover a fraction of the value necessary for the trade or transaction, as the rest of the amount is

SCHEMES/PAGE 6

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Opinion

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Fathers of Orphans Think a minute ... Tragically, fathers are becoming a vanishing breed. Statistics show that millions of children are growing up like orphans because their fathers simply reproduce themselves and leave, rather than staying home to love and raise their son or daughter. A family expert who has studied modern life says: “ The vanishing father is perhaps the number one problem of the changing family today.”

There are also fathers, however, who stay in the same house with their children yet still manage to make them orphans. Someone said, “The hardest job kids face today is learning to be parents without seeing any.” They may see a man living in their home, but they do not see a loving, caring father who is involved with them. So they actually grow up like orphans. “Some fathers bring their children up, while other fathers let them down.” These are fathers who support their children

THINK A MINUTE

JHAN TIAFAU HURST with food, clothing, and an education—nothing more than what an orphanage provides.

Remember: “Each day of our lives we make deposits in the memory banks of our children.” How much time together with your son or daughter have you put into their memory bank? How many memories do they have of you listening, talking, and having fun with them? If a man refuses to fulfill his responsibilities as a father, he cannot expect his wife to be a real mother either.

ORPHANS/PAGE 7

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FRIDAY | APRIL 24, 2020

Continuity of Food System Critical During COVID-19 Pandemic Maintaining a stable food supply in the Philippines is critical in the battle against the novel coronavirus.

And that means each sector of the fo o d supply chain -- farms, packing houses, food processors and manufacturers, distributors, and retailers -- must take measures to ensure that they can continue to operate.

Food is not recognized as a source of the virus, but keeping food safe from other pathogens and keeping workers healthy and productive are

a l w a y s i mp o r t a nt considerations.

"Consumers' greatest concern may be from stores where there are large crowds and greater risk of coming into contact with someone who i s s i c k . Su r f a c e s such as grocery carts potentially can carry virus, so handwashing is important.

For food operations, one of the keys to avoiding illness is employee training.

Employees, whether they work on the farm or in the factory, must monitor themselves for illness. If they have any symptoms

i n c l u d i n g f e v e r, sore throat or dr y cough, they should st ay h om e. S o c i a l distancing must be encouraged including avoiding large gatherings or ot he r r isk s for exposure during off hours. Handwashing, as always, is a key for food employees.

My advised that each operation should establish policies to promote s o c i a l distancing where p o s s i b l e , m on it or for sick employees, and us e en hance d cleaning of all surfaces that employees or customers

Coronavirus is Negativity in its Highest Form Ne g at i v i t y i n contemporaneous times is manifested in so many ways, be it economically, socially or environmentally. In a world where only one per cent of the population is in control of the economy, where the total wealth of eight richest American families equals the total assets of some 3.6 billion people, that is economic negativity in its highest degree.

In a world where 821 million are hungry, a cake worth $72,000 was shared upon in a big birthday celebration in California.

Every time there is a surplus of milk production in the

USA, the excess is thrown to the sea, so with the excess of wheat that is just being burned. Why? The capitalists don’t want to decrease the price of these commodities as such will lower down their rakings. I was shocked upon reading this truism in a library in North America where my Ph.D. sister, Dr. Zenaida Ravanera was teaching. That is socio-economic negativity at its worst.

The portrayal of negativity ecologically is even more horrible. In fact, the earth now is facing its 6th extinction, an offshoot of the homo sapiens: negativity.

Every day, 1,000 hectares

of 386-meter high iceberg are melting in the Arctic and the Antarctic which is causing the rising of the sea level. There are wildfires in the Amazons and Australia while the Sahara Desert is expanding without let-up.

Billions species of flora and fauna are now extinct. Gaia (Mother Earth) is now dying – no more lungs (the forests), no more veins (rivers), acidic stomach (bays) and so much headaches (destruction of the ozone layer).

In his very popular book, the Power of Now, Eckhart Tolle said, “Negativity is totally unnatural. It is psychic pollutant, and there is a deep

Reaching out amid lockdown I know we can never wipe out poverty entirely. There will always be poor, suffering people. Christ himself said as much. “The poor you will always have with you…”

(Mt 26,11) But this does not mean that we should not do anything, at least to mitigate that problem, helping poor people as much as we can.

This is the very basic aspect of Christian charity.

With the present dispensation of lockdowns and quarantines, we can just imagine how the poor people, already suffering a lot during normal times, are suffering today. I know that we ourselves have our own share of privations, discomfort and inconvenience brought about by these restrictions.

But this does not detract us from our duty to do whatever we can to help the more disadvantaged ones.

We simply cannot be aloof to the graver predicaments of the others. Let’s be wary of the tendency to be unmindful

of the others simply because we may not be suffering as much. We can still eat and have our comfortable time.

Our fridges are still wellstocked.

Let’s be careful because we can easily fall into a severe case of quiet and deceptive self-indulgence. We can think that we are not doing anything wrong because we are just by ourselves. This is a subtle form of self-indulgence and is definitely a sin. Christ wants us to love everybody as he has loved us, and love is not just not doing anything wrong to others. It is being truly concerned for them, expressed in deeds.

Let us always remember that if we want to follow Christ as we should, we have to deny ourselves and carry the cross. (cfr. Mt 16,24) This is always the rule to follow, in good times and in bad.

The very least thing we can do to help is at least to practice

some form of self-denial, especially in our food, drinks, comfort, use of gadgets, if only to show solidarity with those who are denied of the basic necessities of life during these times. Let us be very generous in this level of selfdenial and self-giving.

But for sure, we can do a lot more. We should not forget that many people, with families to feed, have lost their job and their livelihood.

And because of the many restrictions nowadays, many cannot report for work while many others cannot go home, stranded and quite broke. People in all forms of helplessness are numberless.

Human misery has sunk quite drastically deeply these days.

We have to reach out to them. How? That’s another challenge to face. But there are always some ways. We are not yet dead when we cannot do anything anymore. Where there is a will, there will always be a way! The human

NUTS & BOLTS

JEROME DE LA FUENTE

f r e q u e nt l y t o u c h .

We don't know how l o n g C o r o n av i r u s will be a risk, but throughout this time, it is important to ensure an ample supply of fo o d to promote health and proper nutrition.

Maintaining a robust food system is critical in this effort.

KIM'S DREAM

ORLAN R. RAVANERA link between the poisoning and destruction of nature and the vast negativity that has accumulated in the collective human psyche. No other life form in the planet knows negativity, only humans, just as no other life form violates and poisons the Earth.

Indeed, collective insanity seems to be the order of FORM/PAGE 7

HINTS AND TRACES

ROY CIMAGALA spirit, especially animated by divine love, can always find a way.

It does not mean we be imprudent and reckless in our zeal to help others. There certainly are risks to take. But if we plan things well, and bring them to our prayer, we can be sure that we can do a lot to help others in these difficult times with so many restrictions to contend with.

Offhand, I notice there are already some people organizing themselves to LOCKDOWN/PAGE 7

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FRIDAY | APRIL 24, 2020

BSP eyes zero to -1% growth this '20 PHILIPPINE monetary officials forecast domestic growth this year to be at zero or negative 1 percent as a result of the coronavirus global pandemic.

“Worst case is negative one (percent), best case is zero but many things can still happen,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno told members of the House of Representatives and some economic managers during an online meeting linked to the Facebook page of House Speaker Alan Peter Cayetano Tuesday.

This forecast range is similar to the figures quoted

by Finance Secretary Carlos Dominguez III and former National Economic and Development Authority (NEDA) Director General and Socioeconomic

Planning Secretary Ernesto Pernia.

To help cushion the economic impact of the pandemic, Diokno said the central bank has reduced its key policy rates by a total of 125 basis points this year and cut by 200 basis points the reserve requirement ratio (RRR) of universal and commercial banks (U/ KBs), among others.

He said a 100-basispoint cut in RRR, a portion of banks’ reserves required to be placed in the central bank, is expected to release about PHP90 billion to PHP100 billion into the economy.

The measures, he said, are “really designed to ensure adequate liquidity into the financial system and reduce borrowing cost.”

He said the RRR cuts are designed to help small and

medium enterprises (SMEs) that are greatly affected by the pandemic.

BSP also aided micro, small and medium enterprises (MSMEs) by allowing banks’ lending to this sector as part of the financial institutions’ reserve requirements.

Diokno said they “try to be creative” because they really want to help the small and medium scale businesses during these trying times.

He said these liquidity-inducing measures, along with the guarantee to be extended by the Philippine Guarantee Corporation (PhilGuarantee), are measures that will be attractive for MSMEs. During the same online discussion, Finance Secretary Carlos Dominguez said PhilGuarantee is ready to provide up to PHP100 billion worth

of guarantees to loans applied for by MSMEs from banks.

Dominguez said he has also discussed with Land Bank of the Philippines (Landbank) officials about an aid for schools that will have a “study now, pay later” program for secondary and tertiary levels.

He said Landbank could probably extend up to PHP100 billion worth of loans to private schools and this will be used to cover up to 70 percent of the amount based on the promissory notes of the students.

The program will benefit even the returning overseas Filipino workers (OFWs) who want to have another skill, or upgrade their skills, he added.

“This program will be available soon to private schools,” Dominguez said.

(PNA)

Bank lending picks up in February BANK LENDING in February grew quicker as easing moves by the central bank in 2019 were felt in the financial system.

Outstanding loans disbursed by universal and commercial banks expanded by 12.2% in February, faster than the 11.6% seen in January, according to data from the Bangko Sentral ng Pilipinas (BSP).

Inclusive of reverse repurchase agreements, lending climbed by 11.4%, also quicker than the 11.2% logged in the January.

The central bank attributed the rise to production loans, which made up 86.3% of the total loans. Lending disbursed

to the segment grew by 9.6%, quicker than the 8.8% rise in January.

Production loans continued to increase on the back of lending to sectors including real estate activities (20%); financial and insurance activities (19%); electricity, gas, steam and air conditioning supply (9.7%); information and communication (22.5 %); and construction (16.2%).

The BSP said other sectors also saw higher loans in February, except for those in the manufacturing (-2.1%), mining and quarrying (-10.2%), and other service activities (-34.7%).

Meanwhile, growth of loans for household

consumption eased to 37.6% from the 40.1% in January. The growth was fueled by the rise in motor vehicle loans.

Analysts said the easing stance of the BSP last year began to translate to faster bank loan growth.

They, however, said lending may weaken or even drop in the months ahead due to the slowdown caused by the coronavirus disease 2019 (COVID-19) and the lockdown in Luzon.

“Bank lending continued to climb in February, largely on base effects and as the lagged impact of the 2019 reversal in monetary policy,” ING Bank N.V.-Manila Senior Economist Nicholas

Antonio T. Mapa said in an e-mailed response.

In 2019, the BSP slashed rates by 75 basis points (bp), partially reversing the 175 bps in hikes in 2018.

The Monetary Board also reduced the reserve requirement ratio (RRR) of lenders by a total of 400 bps in 2019.

Apart from policy moves, the government’s infrastructure thrust also boosted lending growth, said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp. (RCBC). “[It also] reflected increased infrastructure spending since the latter FEBRUARY/PAGE 7

BSP okays $2.38-B foreign borrowings THE central bank said they have approved $2.38 billion worth of National Government (NG) foreign borrowings in the first quarter of 2020 which was 30 percent lower than same time last year of $3.42 billion.

The NG or public sector loans were broken down as: Euro bond issuance of EUR1.2 billion ($1.3 billion); four project loans worth $493 million; and two program loans amounting to $800 million.

The Bangko Sentral ng Pilipinas (BSP), in a statement, said

5

Banking&Finance

the NG will use these foreign loans for general financing requirements and to fund infrastructure development and transport connectivity projects.

The funds will also finance the implementation of the Philippine Competition Act as well as programs to “develop youth employment opportunities and resilience to natural disasters.”

About $219.8 million or 9.23 percent of external borrowings will go to infrastructure flagship projects of the Duterte administration’s

“Build, Build, Build” (BBB) program such as those under the Project Management Consultancy of the Philippine National Railways South Long Haul Project.

The BSP is mandated by law or Section 20, Article VII of the 1987 Constitution of the Republic of the Philippines, to review and approve all foreign loans, both from the public and private sector, to ensure its “judicious use” for the management and sustainability of external debt, said the BSP. The BSP used to

impose a limit on foreign loans but with the BBB funding requirements, setting a cap was temporarily suspended.

Foreign borrowing limits was an inherited program from the days when the Philippines was still under the tutelege of the International Monetary Fund.

As of end-2019, the country’s outstanding external debt went up by 5.9 percent year-on-year to $83.6 billion. `Public sector external debt totaled $42.8 billion BORROWINGS/PAGE 6

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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 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 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 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 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 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 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

SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625

EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081

SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632

EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331

STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168

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

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

LOANS/PAGE 6

6 Funding... from page 1

evaluation head, said initial assessment of the sub-projects i nd i c ate s i mprove me nt in crop handling. “(Producers used to sell) only wet beans, now they have gone into fermented beans,” Mr. Rico said during last week’s Habi at Kape forum.

L a t e l a s t y e a r, t h e Department of Agricultureled PRDP launched focus group discussions with other agencies — including the Department of Trade an d In du st r y, and t he Depar tment of S cience and Technology — on the impact of the interventions.

The next step in the evaluation is a survey of the status of beneficiaries.

“Initially, we saw marked improvement in handling the crop because by just shifting to fermentation, they earn better,” said Mr. Rico.

Joseph John Palarca, PRDP information specialist in Mind anao, s aid t he target is to increase the beneficiaries’ income by about 15% from levels during the pre-intervention period.

“We are confident that their lives will drastically change b e c aus e of t he interventions that the PRDP and the other partners are providing the beneficiaries,” M r. Pa l a r c a s a i d .

San Isidro, home of Chokolate de San Isidro, Inc., is one of the Davao del Norte towns developing a c a c a o i n d u s t r y. — Carmelito Q. Francisco

Donation... from page 1

“Filinvest and the Provincial Government of Misamis O r i e nt a l an d t h e C it y government of Cagayan de Oro are long-time partners in the economic development.

Today, we are also partners in the fight against this g l o b a l p a n d e m i c ,”s a i d Tristan Las Marias, Filinvest Executive Vice President and Business Unit Head for Visayas and Mindanao.

“Filinvest also hopes to reach our unsung heroes, the front liners and our medical health workers who are tireless in their admirable efforts. This is the company’s way of honoring t he i r s a c r i f i c e s i n t he service of our kababayans,” Las Marias added.

Aside from CDO and Misamis Oriental, Filinvest also provided sets of PPE and ventilator to Cebu, the Research Institute for Tropical Medicine (RITM), Philippine General Hospital (PGH), Lung Center of the Philippines, Taguig Pateros District Hospital, and Ospital ng Muntinlupa, as well as to the local government of San Mate o, R iza l.

“Filinvest aims to help the communities where we work.

It is our way of giving back to the people and the local governments through our #ProjectSpark for COVID-19.

We value our partnership and we will assist in the best way it can as we face this health crisis together,”

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FRIDAY | APRIL 24, 2020

added Juan Eugenio Roxas.

Misamis Oriental is home to FDC Misamis Power Corporation that operates 3 x 135 MW Circulating Fluidized Bed (CFB) Coal T h e r m a l P l a nt w it h a capacity of 405 MW and uses the latest clean coal technology. Cagayan de Oro City likewise is home to Filinvest Land Inc’s residential project, One Oasis CDO.

Ordered... from page 1

The energy department said the payment leverage being afforded to electricity consumers is in line wit h t he provisions of Republic Act 11469 or the “Bayanihan to Heal As One Act” that is the country’s legal shield in fighting the c oronav i r us p andemi c.

To the players in the power sector across the power generation and supply to transmission and onward to the distribution chain – be it public or private corporations, the energy chief decreed that “all obligations falling due during the original and extended ECQ, shall be given a similar grace period without interest, penalties, fees and charges.”

At the same time, the DOE prescribed that “four months amortized payment shall be allowed for all unpaid balances or obligations during the said period, without interest, penalties, fees and charges.”

Relative to the feed-intariff allowance (FIT-All) that is collected from the electric bills of consumers and will in turn be remitted to qu a lif ie d rene wable energy (RE) developers, the DOE specified that this shall also be “suspended for another billing period.”

Meanwhile in the retail competition and open access (RCOA) sphere, the DOE noted that “arrangement for the payment of contestable customer obligations with t h e i r re t a i l e l e c t r i c it y suppliers falling due during the original and extended ECQ shall be according to their negotiated agreements.”

Absent such arrangement, it was recommended that t he p ar t i e s “a d opt t he same or similar scheme” as stated in the DOE order.

But in order to lessen the impact and help manage the cash flow in the energy supply chain, the DOE seeks “immediate and proportionate remittance of payments received ahead and within the due dates to their respective creditors and suppliers.”

Suspension... from page 1

of coronavirus disease 2019 (Covid-19), Malacañang said on Wednesday.

Presidential Spokesperson Harry Roque said Duterte would study whether the proposal of the University of the Philippines’ (UP) experts to cancel classes until December would indeed be an effective way to limit further Covid-19 infections in the country.

“Iy an p o’y t a l a g ang binibigyan ng atensiyon ng ating Presidente (The President would really give attention to that proposal),” Roque said in an interview with DZRH. “Talagang galing sa UP na isang eskuwelahan mismo, eh talaga pong pag-aaralang mabuti ng Presidente iyong ganiyang rekomendasyon (Since the recommendation came from UP which is a reputable university, the President will carefully study it).”

In an interview with CNN Philippines on Tuesday, Education Secretary Leonor Briones said the opening of classes for the next school year may be moved to August due to the restrictions imposed by the national government to halt the spread of Covid-19.

Briones also said the Department of Education is considering holding Saturday classes to achieve its target to end the 2020-2021 academic year in March, just like in previous years.

The class suspension until December this year is among the recommendations pitched to Duterte on Monday, Dr. Mahar Lagmay of UP said on Tuesday.

Lagmay, who represented a group of scientists and academic researchers from the UP system, said the proposal was made after it was noticed that individuals aged 19 and below are most likely to have contact with the elderly and infect them.

Roque said the warning of UP experts would be thoroughly assessed.

“Ang naging konklusyon ng UP, napakaepektibo na paraan para mapabagal ang pagkalat ng Covid kung isususpinde ang mga klase at ang mga kabataan ay manatili sa kanilang mga tahanan (UP experts are saying suspending classes and letting the youth stay at home are effective ways to slow the spread of Covid),” he said.

Classes have been suspended in March following the rise in Covid-19 infections in the country.

Duterte also placed the entire Luzon under enhanced c om mu n it y qu ar ant i ne until April 30, prompting Filipinos to observe strict home quarantine to stop the further transmission of Covid-19.

Confirmed Covid-19 cases in the Philippines have climbed to 6,710, as of Wednesday. (PNA)

Roads... from page 2

Road; 2) CabadianganLanao-Cuña Road; 3) NHA-San Miguel Road; 4) NHA-Kinabcaban Road; 5) Pandan-KatibawasanKabunuan Road; 6) Barangay Tupsan to Barangay Benhaan Road; 7) Sitio Kabuhi, Barangay Pandan to Sitio Quiboro, Barangay Poblacion Road; 8) Barangay Naasag to Barangay Yumbing Road; 9) Barangay Agoho to Barangay Tagdo Road; 10) Sitio Katubli, Barangay Agoho to Sitio Timugsay

Road; and 11) Barangay Tagdo to Sitio Abbu, Baylao Road.

The ordinance shall take effect upon approval, posting in the five municipal halls in the province and dissemination to all mayors and barangay captains. (RTP/PIA10)

Sector... from page 3

entities of regular power bills, deferred accounting adjustments (DAA) on GRAM (generation rate adjustment mechanism) and ICERA (incremental currency exchange rate adjustment), ACRM (automatic cost recovery mechanism) true-up adjustments, remittances entitled to prompt payment discount (PPD), restructured accounts on power, and ancillary services payments due from the National Grid Corporation of the Philippines (NGCP).

Also, a deadline extension is given to independent power producers (IPP) administrators for their capacity and energy payments to PSALM. They are also allowed to pay their deferred dues in installments, provided that IPPs and fuel suppliers adopt the same due date extension and payment scheme.

Entities collecting universal charges are expected to provide a grace period and a staggered bills payment scheme to electricity consumers, while PSALM also grants the collecting entities (CE) with the same extension for their remittances of universal charges to the agency.

These universal charges include missionary electrification charge, environmental charge for watershed rehabilitation and management and stranded debts.

The agency tasked to privatize the government’s power assets has been given a grace period to disburse funds from these payments to its beneficiaries.

“PSALM strongly reiterates its requirement to power customers, CEs, NGCP and IPPAs to immediately remit to PSALM any proportionate amounts that they may have already collected from their own customers, if any, without awaiting the extended due dates,” it said in the advisory.

“Customers who have the ability to pay are encouraged to continue to timely settle their bills with PSALM within the original due dates,” it added.

In a separate statement, PSALM said on Tuesday that it had again moved the deadline for the submission of bids for the third round of public bidding for the Malaya

thermal power plant and its underlying land.

It set the new deadline at 12:00 noon on June 30 from May 30, citing the extension of the enhanced community quarantine.

PSALM said the dates of the other bidding activities were also adjusted. The new deadline for the filing of a request to bid as a consortium is on May 11. The submission of documentary deliverables is rescheduled to May 15, while the release of asset purchase agreement to qualified bidders is set to happen on June 16 or not later than seven days before the bid submission deadline.

PSALM said it would disclose the minimum bid price to qualified bidders immediately after it had secured the board’s decision on the matter. Its board is awaiting feedback from the Commission on Audit on the request of PSALM to allow a discounting mechanism that would lower the minimum bid price.

The agency said it was monitoring the coronavirus disease 2019 (COVID-19) pandemic and that it would issue appropriate supplemental bid bulletins to modify the dates of the bidding process should these are needed.

Schemes... from page 3

provided or lent by their brokers or agents subject to certain fees and/or commissions.

Nexus P Capital also uses a trading bonus system in its credit token scheme to discourage investors from withdrawing their investments until they have complied with the minimum trade volume requirement. In case of non-fulfillment, credit tokens are forfeited and losses incurred are deducted from the investors’ deposits, which shall then be subject to a 20-percent withdrawal fee.

MPR, meanwhile, claims to be a unique trading robot that trades cryptocurrencies around the clock using BXTCoins and Property Arbitrage. It further claims that it buys and sells cryptocurrencies over several markets in order to make a profit from small to massive price differences across different markets.

As posted online, MPR touts an average daily profit of 1 percent per day or 365 percent per annum.

To earn, one will need to purchase a six-month license for $200 and deposit bitcoins in his or her BXT wallet.

An initial investment of P5,000 will supposedly yield a profit of P1,739 in 30 days, or a 1 percent daily profit, to as much as P20,022 in six months. In addition, an investor may earn from referral fees and

receive up to 35 percent commission on sales.

On the other hand, the investment scheme of Norway International involves beauty products and food supplements.

One may purchase starter packages worth P1,500 to P4,500 to earn retail profits, cash rewards, direct referral bonuses, pairing bonuses, direct match bonuses, and car and travel incentives, among others.

The investor may earn even without selling any of the products under the so-called Norway International Binary System. For instance, a member or future investor availing of the P1,500 starter package is promised P90,000 to P270,000, an equivalent to a 6,000 percent to 18,000 percent return on investment, within a month.

Those who act as salesmen, brokers, dealers or agents of fraudulent investment schemes may be held criminally liable and penalized with a maximum fine of P5 million or imprisonment of 21 years or both under the Securities Regulation Code.

Republic Act 11469, or the Bayanihan to Heal as One Act, further penalizes those participating in cyber incidents that make use or take advantage of the coronavirus disease 2019 (Covid-19) pandemic to prey on the public through scams, phishing, fraudulent emails, or other similar acts with two-month imprisonment or a maximum fine of P1 million or both. (PR)

Borrowings... from page 5

as of December 2019 from $42.5 billion end-September 2019.

About $36 billion were NG loans while $6.7 billion were borrowed by government-owned and con¬trolled corporations, government financial institutions and the BSP.

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

7

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February... from page 5.

banks’ compliance with the reserve requirement to aid smaller businesses.

months of 2019 that had positive effects on related industries in the supply chain of the from page 4. infrastructure projects,” order of the day because Mr. Ricafort said in an of man’s egoic mind that is emailed response. sacrificing mother Earth According to ING’s and the people to the altar of Mr. Mapa, investment greed and profit. Based on activity, which has an the Study of Oxfam, “there impact on bank lending is now so much veneration to the profit motive that has growth, has been “on captured the mindset of all the mend” as 2019 governments, all universities, came to close and was all institutions and even set to recover in 2020 of religious groups.” The world is so much enamored until the COVID-19 to so much externalities, took a toll on the external appearances, so economy. mu ch mate r i a l is m and “We could expect consumerism. B eing so to see bank lending buried in trivialities, there activity curtailed as is so much denigration to spirituality. investment appetite With that negativity drops out,” he said. looming all over, how can Still, despite seeing the humans be awakened? likely slower growth in Well, perhaps another form bank lending, Mr. Mapa of negativity that should said weaker investment stun humans to have the much needed paradigm appetite could be shift. We humans are in offset “by demand deep slumber, buried in a from consumers and state of unconsciousness. It corporates who may is time for us to realize that need funding to bridge God has made humans in His likeness and image to payments after cash flows froze over during enable the divine purpose of the universe to unfold. That the lockdown.” is how important we are.

UnionBank of the Covid-19 is zoonotic. A Philippines, Inc. Chief hundred years ago, HIV came Economist Ruben Carlo about from South Africa when the Africans began O. Asuncion likewise eating Chimpanzees and the expects bank lending HIV virus began attacking growth to be hit by human. In the same breath COVID-19. that COVID-19 came about “In the coming when Chinese in Wuhan, months, lending China began eating “paniki” thus, another zoonotic disease growth is expected to came into being. decline, but the policy adjustments, hopefully, That historical truth alone makes it imperative will encourage more for us humans to make some borrowing from reflection. Shall we now the economy,” Mr. accept the truism that all of God’s creation are interAsuncion said in an connected and we must abide email. that oneness. It must dawn The central bank has on upon us now that deep within already reduced rates all of us in the core of our by a total of 125 bps being is an intelligence, a principle that organizes our this year. This brought actions of mind and body. But the overnight reverse repurchase, lending and we cannot be in the core of our being unless we pass the deposit rates to 2.75%, dark lee-ways and pathways 3.25%, and 2.25%, of our egoic mind brought respectively. about by so much illusion.

Reserve requirement We must now go to the core of our being and feel for universal and commercial banks have the presence of the Unseen Being, the one to Generate, also been reduced by to Organize and to Dispense another 200 bps to 12% (GOD) the actions of body since April. Moreover, and spirit. It is only then that we can have inner peace and the BSP has slashed COVID-19 will have no match CDO MAIN the minimum liquidity BRANCH against the Unseen Being that & J Lim Bldg., Tiano Brothers ratio ofPstand-alone is deep within our being.

Kalambagohan Sts., thrift and rural banks With that, no negativity – be Tel. # (08822) 727-829 * by 400 Telefax bps to 16%#until socio-economic, ecological (088) 856-1947 the end of this year as or COVID-19 – can defeat that high spirituality! a liquidity boost given CAMIGUIN BRANCH the current situation.

B. Aranas St., Poblacion, Aside from the latestCamiguin Mambajao, from page 4. # (088) 387-0491 rate cutTel. announced last week, the BSP also do some feeding programs CORRALES said that it will count BRANCH to many. This is a very good Corrales loans for medium-,Ave., initiative. They have tapped Cagayan de Oro City small- and micro-sized their own personal networks and other organizations enterprises as part of

Form...

Lockdown...

for this purpose, and it’s working.

W h at I f i n d m o r e challenging is to identify those who seem not to need some help because they enjoyed a level of comfort during the normal times, but actually are in great need of help these days.

The overt poor are always easy to identify.

And we already have some appropriate structures for them. It’s the hidden and the new poor that are quite difficult to identify and to extend help.

If we bring this concern in our prayer, I am sure we can find the appropriate ways to reach out to them.

Orphans... from page 4.

e i t h e r. Wi t h o u t t h e l e a d e rsh ip and help of her husband, the mother wi l l e ventua l ly b e come discouraged. The tragic result is kids who are left to find their own way growing up without the security, love, and teaching their parents are responsible to give them.

D a d , w o n’t y o u a s k Jesus to forgive you for not f u l ly “ b eing t here” for your children? He will help you start changing to become the kind of father your children need and deserve, so they will never again have any reason to feel like an orphan. Just think a minute .

ALLAN'S LECHON Main: Purok 4 Puerto, Cagayan de Oro City Cell #: 0928-616-4431 / 0905-777-0670 Branch: 31st Nazareth, Cagayan de Oro City Cell #: 0926-594-9540

For orders, please call:

Free: HALANG-HALANG or DINUGOAN!

KAG. LOLITA L. WAHING

Education: Tool in Countering Misinformation and Disinformation Ana Mary Nabo Go MT 1 Jasaan Central School Upper Jasaan, Jasaan, Misamis Oriental Education play a significant role in one’s life. Aside from assuring betterment of life to a person, education contributes greater amount to the one’s character - on how he will respond to different situations and on developing right attitude that would help him get through such circumstances.

Example of problems facing the delivery 21st century learning among young people is opposite to free access to all information andDIVISORIA advanced technology is the existence of misinformation and disinformation.

BRANCH

Atty. Erasmo B. Damasing Bldg.,

In an article published in the website of United Nations Educational, Scientific and Cultural Organization, misinformation #61 Don A. Velez St., means false information, while disinformation is an information that is both false and deliberately created to harm a person, Cagayan de Oro City social group, organization or country.

Tel. # (088) 857-3631

Misinformation and disinformation are truly challenge to young generation especially the presence of social media where the right, wrong and misleading contents mix up. Social media sites are prone to information crisis and conflict because of these LAPASAN BRANCH kind of contents.

Lapasan Hi-way,

Cagayan de Oro City

If one went through education, he is taught and equipped with right values. These values are instilled during years in academe. # (088) 231-6739 It isTel. the indirect effect of different disciplines taught levels by levels in elementary, secondary and higher education.

CARMEN BRANCH Education train a person to act accordingly to a certain stimulus. For example, is assuring that he learned the right information by sourcing out from reliable sources before Vamenta Blvd.,Cagayan degetting Oropanicked City or disseminating the erroneous data to other entities.

Tel. # (088) 231-2011

These kind of information are actually hindrances to this developing, information era and must be fought through giving importance to education, for after all, getting misinformed and disinformed can cause chaos in many and different ways.

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IN-DEPTH

Friday | April 24, 2020

8

Shell Raises Recruitment Scam Alert

P

ilipinas Shell has issued a warning to the public against unscrupulous individuals who have been using the name of Pilipinas Shell in falsely recruiting applicants and then asking them to pay for supposed placement fees and the purchase of personal protective equipment (PPE).

Reports reaching Shell revealed that fraudulent individuals and/or organizations posing as the company's HR personnel have been posting fake job advertisements online

instructing applicants to submit their resume to shellphilippines. talents@gmail.com, a fictitious email address which is not an official email account of Shell or any of its partner organizations.

Following the submission of the resume, applicants are then reportedly instructed to advance an unspecified amount to cover a cash bond and the cost of PPEs, with an assurance that the amount would be reimbursed once the applicant gets the job.

Once monies have

been transferred, the scammer cuts off all contact with applicants.

In a statement, Shell clarified that these individuals and/ or groups are not connected to Shell. The recruitment process is done via official

channels only and without requiring placement fees.

Shell advised prospective applicants to contact the company through its official channels to verify job postings.