BusinessWeek Mindanao (August 15, 2016)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 029

Market Indicators As of 6:05 pm august 12, 2016 (friday)

FOREX

PHISIX

US$1 = P46.699

7,955.86

3.4

X Briefly

cents

25.49

X

points

Rubber plant THE Department of Agrarian Reform (DAR), in partnership with the Japan International Cooperation Agency (JICA), has built a P40 million rubber processing plant in Cotabato to support local producers.

JICA Representative Yoshiyuki Ueno said in an e-mail interview that expected production capacity of the plant in Banisilan is 696 metric tons per year, and is expected to benefit 1,200 farmers in the area.

“The official turnover ceremony was on Aug. 3, though it was being operated by the farmers organization even before the ceremony,” he said.

Brown rice DAVAO City -- Fifteen years after setting up shop here with a four-hectare postharvest facility for small farmers, the Mindanao Agri Network Corporation (MANCOR) is finally breaking into the national market with its organic brown rice.

MANCOR’s Sun Made brand, launched in 2010, was initially available only in local supermarkets.

“When we started in 2010, we were available only in Gaisano Mall Davao, NCCC, and Park and Shop of Victoria Plaza.

We started from zero to where we are now,”Sun Made Vice-President Carlo C. Lorenzana said in an interview.

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Devt corridors, clusters to lure new investments www.businessweekmindanao.com

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By KRIS M. CRISMUNDO, PNA

OCAL and foreign investors are urged to explore opportunities in the southern part of the Philippines with Mindanao Development Corridors and Mindanao Development Clusters.

Mindanao Business Council (MinBC) Chairman Vicente T. Lao said the region aims to attract more investments, supporting the goal of the Duterte administration to bring development across the country.

The Mindanao Development Corridors strategy, led by the Mindanao

Development Authority (MinDA), is part of the Midterm Update 2011-2016 Philippine Development Plan (PDP) 2011-2016.

This strateg y targets to enable growth in Mindanao through industry development, improving c o n n e c t i v i t y, l o g i s t i c s development, investment lure/PAGE 9

BRISK SALES AMID TRAFFIC. An ambulant vendor takes advantage of Cagayan de Oro City’s burgeoning traffic to sell his stuffs to motorists along the intersection of Claro M. Recto St. and Agora Road. PHOTO BY GERRY LEE GORIT

‘GREEN’ GROUP WARNS ‘CARBON MAJORS’:

‘Ignore CHR’s summons; face int’l backlash’

By BONG D. FABE, Contributing Editor

(Second of Three Parts) First in the World THE CHR officially and squarely put the spotlight on the major fossil fuel companies all over the world

and their accountability for climate impacts that endanger people’s lives and livelihoods, as well as that of future generations.

“Climate change interferes with the enjoyment of the F i l ipi no s’ f u nd ame nt a l rights. Hence, the petitioners demand accountability of those contributing to climate change,” the petition said. ignore/PAGE 9

NEWEST CRAZE. Online games aficionados are now having fun over the newest craze where President Duterte is featured as a crime czar in “Duterte Fighting Crime.”

PHOTO BY GERRY LEE GORIT

Durian crunch hurts Dabawenyos

By CARMELITO Q. FRANCISCO, Correspondent

The king of fruits is feeling the crunch of the dry spell too.

DAVAO City -- The regional office of the Department of Agriculture (DA) is allocating P2 million to cushion the impact of the dry spell on the city’s fruit industry,

particularly on durian farms.

Among the interventions that will be rolled out are “pro c u re m e nt an d d ist r ibut i on of du r i an seedlings, especially desired

varieties to sustain the local industry,” according to DADavao Assistant Regional Director Maria Fe T. Orbe.

The DA High Value Crops Program earlier predicted a reduction in the harvest durian/PAGE 9

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Economy assures vegetable ARMM port revenue increases, DA sector of financial support officials see more port activities COTABATO City -- Port officials in the Autonomous Region in Muslim Mindanao (ARMM) are optimistic revenues generated by Polloc Freeport and Ecozone will continue to increase, officials said today.

For the first seven months this year, Eshan Mabang, Po l l o c Po r t m a n a g e r, reported that the revenue generated was almost PHP19 million.

“Its record high in terms of revenue,” Mabang told reporters.

The figure is 33.5 percent higher than its total revenues in 2015, which was only at

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PHP12.6 million, Mabang said.

Mabang said various inbound and outbound cargoes were shifted to the Polloc Freeport in Parang, Maguindanao because of the improved trust of the different locator companies and investors in the ARMM government.

“The transparency, good governance, and the peace and order condition made the investors trust more in the ARMM to import various cargoes,” he said in a statement.

Because of an improved performance of the port

has contributed to t he increase in the over-all tax and revenue collections of the ARMM’s Office of the Regional Treasury.

Mabang said part of the re venue will go to the development of port facilities.

About 377,070 metric tons of inbound and outbound cargoes were shifted in the port from January to July this year. Mabang said last year’s cargoes reached 492,196.44 metric tons, the highest since 2013.

A m on g t h e c ar g o e s that went through the port include include yellow corn,

cement, machinery, plant equipment, iron/steel, rolling cargoes, and non-prime commodities. While top outbound cargoes include corn starch, corn gluten feeds, corn gluten meal, corn germ, river sand, rolling cargoes, cement, plywood and heavy equipment.

A total of 173 domestic vessels and 14 foreign vessels have docked in the port with cargoes.

International cargo ships from Vietnam, China, and Thailand the port received this year, transported cement, heavy equipment, and yellow corn, Mabang said.

Using the social media, the port has embarked on massive information drive port/PAGE 11

D AVA O C i t y - - T h e Department of Agriculture (DA) has assured vegetable farmers of financial support at low interest rates on conditions that the farmers will be more transparent and accountable for their Return on Investments (ROI). ”We are going to create a financing program and will be pushing this for the first 100 days of the new administration,” said Evelyn Laviña, DA Undersecretary for Agribusiness and High Value Crops, during the opening of the 2nd National Vegetable Summit in the city from August 10-11.

Laviña said that while the new administration’s mandate is to provide food for Filipinos, he also stressed the need to remove corruption in all levels of the Agriculture Department.

Thus, they are preparing t he age nc y ’s f i nanc i ng program for farmers following these two guidelines.

She said the agency has lots of programs but no focus at all resulting in some of the problems being experienced by the sector now.

Ray A. Acain, president of the Vegetable Industry Council of Southern Mindanao (VICSMin), said they staged the Vegetable Summit to help uplift the plight of the farmers by raising awareness on issues that concern them.

“The vegetables sector is not yet that competitive due to various factors including the fragmented farmers in the sector,” he said.

Other factors are the very low technology adaptation of the farmers. support/PAGE 11

RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide

Bukidnon Provincial Police Safety Company named as Best Provincial Public Safety Company (PPO/CPO Level. PNP chief PDG Ronald “Bato” M. Dela Rosa turns over the award during 115th Police Service Anniversary of Police Regional Office (PRO) 10 held in Camp Alagar, Aug. 12. (RDM/PIA)

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Opinion

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Bank of the Philippine Islands @ 165

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

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Run to Your Fear Thin k a minute…My younger son has always had a terrible fear of fast roller coasters. Those rides at amusement parks and fairs that zip around so fast that the people riding them scream the whole way. But recently, my son decided he was going to ride one no matter how afraid he was. He forced himself to sit next to me on the roller coaster, and I could almost hear his heart beating and racing he was so scared.

To tell you the truth, that roller coaster was almost too fast for me! When the ride was finally over and we were leaving, my son was so happy and proud of himself. He kept saying again and again: “Dad, I conquered my fear!”

One of the important s e c re t s to su c c e ss an d happiness, which many people don’t know, is that on the other side of our fear is a much better life for us.

It’s only when we face and conquer our fears that we get past them and are free to reach our potential. The great army general, George Patton, said: “Fear kills more people than death.” You see, death kills us only once, but fear kills us over and over again. “It’s better to face danger one time than

THINK

A Minute

Jhan Tiafau Hurst to live in fear your whole life.” Our fears will just keep chasing us as long as we keep running from them.

A wise man says: “Fear is a warning signal, not for us to close our eyes, but for us to open them wider, so we can face our fear head on to conquer and defeat it.” But if we keep closing our eyes to our fear so we can just stay in our comfort zone, then we’ll end up “buried alive in our comfort zone,” and never really live life to the fullest.

S ome one s ai d: “ T he biggest part of courage is having done it before.”

Remember, there’s a first time for ever ything— whether it’s riding a bike, starting your own business, or public speaking. There’s no greater feeling of hurst/PAGE 11

At 165 years and counting, Bank of the Philippine Islands (BPI) - the country’s first bank - continues to notch many “firsts” in the banking and financial industry.

Originally named Banco Espanol de Isabel II ( af ter Sp ain’s t hen reigning monarch), BPI was established in August 1, 1851, by the Junta de Autoridades. The Junta was a Manila-based committee of civil and ecclesiastical officials, which was created in 1828 by royal decree of King Ferdinand VII. The bank’s original capital was provided by Obras Pias – which handled charitable contributions to the Catholic Church. Among the original stockholders was prominent businessman Antonio de Ayala, forebear of current BPI Chair Jaime Augusto Zobel de Ayala.

D ur ing simple r ites commemmorating the bank’s 165th anniversary earlier this month, Cezar P. Consing, BPI President, described the bank’s evolution and growth, as follows: “The Church was the dominant shareholder until 1968, when Ayala became the bank’s largest shareholder.

Some of the best names in global finance have been BPI shareholders: J.P. Morgan, taking a 20% stake in 1974, DBS buying J.P. Morgan’s stake in 1999, and the Government Investment Corporation of Singapore acquiring a portion of DBS’ stake in 2014.”

A c q u i s i t i o n s c ompl e me nte d org an i c growth. “..in 1974, People’s Bank; in 1980, Comtrust; in

1984, Family Savings Bank; in 1996, Citytrust; in 2000, Far East Bank; and in 2005, Prudential Bank.”

Consing enumerated the many “firsts” in BPI’s glorious history.

1851 – BPI made its first loan to a Filipino-Chinese merchant.

1864 – BPI lent money to the colonial government to build Arranque Market and Hospital de San Juan de Dios.

1888 – BPI financed Jacobo Zobel’s Companie de Tranvias de Filipinas, the steam operated railway that replaced horse-drawn carriages.

1896 – BPI issued the Phippines’ very first bank note.

By royal decree, BPI was given the monopoly of issuing notes to extent of three times its capital stock of 1.5 million pesos. “Its bank notes were designated as Pesos Fuertes, in denominations of 5, 10, 25, 50, 100 and 200, payable in Mexican or SpanishFilipino silver coins.” ( from Money and Banking in the Philippines) The bank notes were jointly used with Mexican peso coins, Alfonsino pesos, Spanish coins and Manilaminted Spanish-Filipino silver coins.

1982 – Pioneered in electronic banking.

1990 – Established the first ATM network.

2000 – Established the first bancassurance company.

2009 – Established the first mobile microfinance institution.

2013 – Built the first solar-powered bank branch.

( Ayala Avenue Extension Branch) 2016 – BPI Capital led the issuance of the P10.7 Billion Aboitiz Power climate bond. This is the first climate bond in the Pacific, first for geothermal energy, and the first “green bond” of any type in the Philippines.

Despite massive volatilites faced by international and financial institutions in 2015, BPI had another good year. The numbers showed significant improvements across all metrics, eg., total assets, loans , deposits, asset yields, assets under management, capital ade qu ac y and market capitalization. Particularly i m p r e s s i v e w a s B P I ’s CASA ratio – a barometer of client loyalty and cost competitiveness – which is now the highest among peer institutions.

In addition, BPI continued to engage the community in several fronts.

-BPI Foundation directly engage d and advance d financial wellness, financial inclusion, financial literacy and sustainable development.

-The BPI-DOST Science Awards continued to provide the countr y’s brightest students a platform for presenting and implementing science and techonlogy-based business concepts.

-BPI Sinag continued to empower young Filipino entrepreneurs via a complete program of social entrepreneurship boot camp, mentorship and access to incubation financing.

- B P I a l s o nu r t u r e d t h e c i v i c s pi r it of it s employees through the

SPEAKING

O ut

Ignacio Bunye BPI Bayan Volunteerism Program. In 2015, as in previous years, BPI staffers contributed thousands of volunteer hours to assist t arge tt e d c om mu n it i e s in conceptualizing, organizing, fund-raising and implementing self-help projects.

Consing attributed BPI’s longevity and prosperity to its faithful adherence to its Credo: “B P I h a s pro s p e re d throughout its long history because it has never shirked from its primary resp onsibilities: to our Clients—we do well when our clients do well; to our People—fair rewards for integrity, professionalism and loyalty; to our Shareholders— superior risk-adjusted returns and prudent management; an d to ou r C ou nt r y — inclusive and responsible nation building.”

(Disclosure: This writer was an officer of BPI prior to joining government in 1986.

He recently rejoined BPI as an independent director.)

Note: You may email us at totingbunye2000@gmail. com. You may also “like” us at Facebook: “Speaking Out”.

A businessman’s view on extrajudicial killings LIFE’S INSPIRATIONS: “…

I rejoice in following your statutes as one rejoices in great riches…” (Psalm 119:14, the Holy Bible).

-ooo A BUSINESSMAN’S VIEW ON EXTRAJUDICIAL KILLINGS: Businessman Ross Ching, a fellow member at the Rotary Club of Intramuros Manila, District 3810 of Rotary International, posted his thoughts about the on-going extrajudicial killings in the country. I asked his permission to use what he wrote. He said I can, but perhaps I should not use his name! Well, his thoughts already came out in Facebook so there is no harm in identifying him as the author.

Let’s read what Ross wrote, warts and all (meaning, I did not edit it one bit): “This post is my response to my apo Angela Martinez on her question about the current national situation of widespread extra-judicial killings. This is only my personal, layman’s view, and does not in any way reflect those of my parents, my relatives or friends.

“Question: Okay lang po ba kung di na dumaan sa korte ang mga suspect, patay kung patay na lang? Ano po ang moral stand ninyo, agree po

ba kayo sa ganitong style?

Answer: Kung papayag ba ako na pagpapatayin lahat ng mga suspected criminals??? Ay apo, hindi dapat sa akin or sa atin dapat itanong.

-ooo NO ONE CAN KILL ANOTHER, ONLY GOD HAS THAT POWER: “God gave us life, only He has the right to take it away. This is different from a State-imposed death penalty, which is still a delegated authority to the courts, ratified by the people or their representatives.

Consider: 1. No one gave us the permission to grant or take life away. To tell whether this guy or that must live or die is not ours to decide.

“2. It makes the courts of law of no use. 3) Lawyers and judges will soon become jobless. 4. Force begets force; kapag nakabawi sa pagkagulat itong mga kriminal, gaganti yan. At ang pupuntiryahin mga inosente. 5. This technique or style is subject to future abuses.

6. After 6 years somebody will take over the government. Just imagine kung nagbabait-baitan lang pala siya-sila at di naman pala talaga nagmamalasakit?

“7. Ang pagpatay ng kriminal kung di mo naman alam kung sino ang pumatay

ay matatawag mong kriminal din. 8. It creates fear of mistaken identity. Paano pala kung me kapangalan ako na drug-lord?

Kawawa naman pamilya ko.

9. It creates a bandwagon of blood-thirsty people, many of them armed with guns, but you don’t even know them.

-ooo BETTER WAY TO SOLVE THE DRUG MENACE? “10.

This is not a long-term solution (I honestly believe so). There must be a better way to do this, to solve this problem. But until then, I will withhold my criticism because we have a rule in our house: `If anybody doesn’t have a better idea than what I am planning to implement, then he/she must shut his/her mouth and follow me’. However, if they have a better way, then I allow them to argue and if they win then we will follow another route.

“On the other hand, this is my word to my children: 1. God must be your God- not anybody or anything else. 2. Children must follow their parents, especially if they are correct.

3. Children must practice and be taught of good morals in an early stage. 4. Real fear can only emanate from an individual’s love of God. “4. Mistakes when they

K akampi

Mo A ng Batas

Atty. Batas Mauricio happen must be corrected with the intention of recovery not just plain punishment. 5. Look into the good things of the past, our forefathers’ teachings. Somehow we will learn from them. 6. Pray for your nation, it is your duty.

7. Pray for your teachers in school and the spiritual leaders of your church…”

-ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 HOURS a day, in the Philippines and the world at www.facebook. com/angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@ yahoo.com.

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Banking&Finance 6 Analysts eye increase in BSP rates starting Q2 2017 T

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HE Bangko Sentral ng Pilipinas (BSP) maintained its key rates for the 15th consecutive policy meeting Thursday, and some analysts expect this to be the case until at least the second quarter of 2017.

In a re s e arch note, ANZ Research said the low inflation environment and strong domestic demand continue to be supportive of the economy’s expansion.

While inflation, which as of June averaged at 1.4 percent, remains below the government’s 2-4 percent target for 2016-18, ANZ expects this to rise because of increases in the vegetable sub-index.

“Strong gains in locallyproduced food items indicate that the agricultural sector is still a weak link,” it said.

Full impact of the BSP’s Term Deposit Facility (TDF), which had its initial auction last June 8, is not yet seen

and ANZ expects more adjustments in the said facility “before it emerges as the BSP’s main liquidity management tool.”

“Until then, we see little room for the central bank to lower its reserve requirement ratio,” it said.

The TDF was put in place as part of the central bank’s Interest Rate Corridor (IRC), implemented since June 3.

The Philippine central bank has increased twice the offering for its 28-day TDF from the initial P20 billion in June to P40 billion in July and P60 billion this August. These were made since oversubscription to the facility remained more than three times the offering.

On inflation, ANZ expects it to average at 1.9 percent this 2016 and 3 percent in 2017. ”Our outlook for average inflation through the next 12 months is likely to remain within the inflation target

range,” it said.

Wit h t h e s e f a c t or s , ANZ does not expect any adjustment in the BSP rates until the second quarter of 2017.

“We e x p e c t B SP t o maintain its course through 2016 and we are pencilling in policy tightening in Q2 2017,” it said.

ANZ said this forecast was made “assuming that the Fed (Federal Reserve) will raise its fed funds rate by 25bps (basis points) in December 2016,” it said. ”Our expectation of Fed tightening in December

2016 should presage tighter monetary conditions in the Philippines,” it added.

Ayala-led Bank of the Philippine Islands (BPI), meanwhile, forecasts the BSP to keep rates steady in the whole of 2017 since domestic output remains strong and liquidity remains high.

Since growth of domestic liquidity or M3 remains elevated, “the next move by the BSP may be in the realm of the RRR,” it said.

The research note, howe ver, s aid t hat t he adjustment in banks’ reserve requirement ratio (RRR)

“may be carried out in six months’ time as the central bank calibrates its auction sizes under the TDF.” “The BSP may opt to unveil a number of macroprudential measures, possibly in key sectors like real estate, in order to arrest any nascent inflationary pressures or areas of excessive risk taking behavior borne from the recent string of negative real interest rates,” it said. “ H o w e v e r, s h o u l d economic activity show signs of slowing, look for BSP to hint at possible easing measures to help bolster

growth,” it said.

If inflationary pressures start to rise and the Fed decides on its second rate hike after the December 2015’s increase, the BPI research note said the “BSP can look to wield the full weight of its IRC by guiding market rates higher by way of substantial TDF auction volumes.”

Capital Economics, in a research note, said the BSP’s rates decision this Thursday is as expected, citing that the central bank “will be in a little hurry to adjust interest rates.” analysts/PAGE 11

RCBC seen to remain profitable despite P1-B fine RCBC is still expected to be profitable in 2016 despite being penalized over its role in the $81-million cyber-heist of Bangladeshi funds.

RCBC’s payment of a P1-billion fine related to the laundering of money from the Bangladesh Central Bank’s account in the Federal Reserve Bank of New York is not seen to materially weaken RCBC’s medium-

term financial profile.

Fitch Ratings, however, admits in a statement that the regulatory fine puts a significant dent to the bank’s net income.

Fitch said the P1-billion fine is not only the largest penalty imposed by the Bangko Sentral ng Pilipinas; but it also comprises 20 percent of RCBC’s net profit in 2015.

School bullying

By LEDINA N. SORIANO Teacher 3 West City Central School

SCHOOL bullying is a type of bullying that occurs in an educational setting. Bullying can be physical, sexual, verbal or emotional in nature. A bully case can only occur when there are two or more people involved, the bully and the victim. There is no universal definition of school bullying yet almost all countries in the world, including the Philippines, recognize its existence and make national laws to counter it. School physicians would usually define bullying as aggressive behavior characterized by the following three minimum criteria – hostile intent (the harm caused by bullying is deliberate, not accidental), imbalance of power (bullying includes a real or perceived power inequity between the

bully and the victim) and repetition over a period of time.

One organization in the Philippines that counters school bullying is Move this World. This particular group is composed of licensed public school teachers who go out of their way to other schools to lecture on anti-bullying mechanisms mostly in the form of dance, thus Move this World.

Generally, positive relationship between students, teachers, administrators and educational support professionals can deter bullying. Studies have shown that bullying programs set up in schools such as Move this World have been shown to reduce peer victimization and bullying.

Still, Fitch stressed that large as it is, the sum is a one-off expense that is not expected to hurt the bank’s medium term profitability or its existing capital.

Fitch ratings said it believes “RCBC will continue to strengthen its operational policies and controls to avoid similar incidents in the future.”

The debt rater s aid

potential loss of banking relationships - which could have hurt RCBC’s rating were averted as seen in the bank’s earnings in the first quarter of 2016.

Fitch Ratings said RCBC’s efforts to improve its risks against money laundering was acknowledged by the BSP itself and is expected to continue to strengthen the bank.

Sto. Nino establishes LRDMC

By GEMMA N. CABARON Teacher I Sto. Nino Elementary School

STO. Nino Elementary School finally has its own Learning Resource Management and Development Center or LRMDC. It is very important that our LRMDC conforms to Philippine standards which are used in public schools all over the country.

We cannot deny the role of libraries in educating the Filipino youth. Libraries are integral parts of the educational system of the Philippines and even anywhere else. First, an effective LRMDC must reflect the needs of its school population. It must be properly and adequately equipped to meet the needs of the curriculum and the users. Second, the LRMDC must maintain a local history collection composed of materials about the school

community, its history, programs and people, etc.

An ideal library must have a basic collection of 3,000 book titles for the elementary level and 5,000 titles for the secondary level, one map, two globes, 100 titles of video recordings on different subject areas, 200 titles of sound recordings on different types of music, 15 titles of slide sets, 25 titles of transparency sets and 50 titles of electronic resources.

Subject areas include general works, philosophy, religion, social sciences, languages, pure sciences, applied sciences, fine arts & recreation, literature, geography/travel/biography, history, fiction and Filipiniana.

That is what we here in Sto. Nino Elementary School intend to achieve.

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CorporateWorld

Villar’s Vista Land nets P1.85B in 2nd quarter

VISTA LAND & Lifescapes, Inc. continued growing its earnings in the second quarter, although the main business slowed as fewer overseas Filipino workers (OFWs) b ought homes amid the global economy’s weakness.

The property firm of billionaire Manuel B. Villar netted P1.85 billion from re venues tot a ling P7.8 billion, its Head of Investor Relations Brian N. Edong told reporters during a briefing in Mandaluyong City on Thursday.

The second quarter results

settled 5% above levels reported in the previous year.

This allowed the company’s first half earnings to jump 11% to P3.9 billion from P3.5 billion a year ago, as revenues increased by 9% to P15.7 billion from P14.5 billion.

The residential business continued to contribute the bulk or 80% of the consolidated revenues. The six months to June, however, witnessed real estate sales growth slow to 3% to P12.57 billion from P12.19 billion.

“The residential sales were hit by [weaker uptake

from] overseas Filipinos because of all these economic issues abroad... I think it’s temporary but we don’t know how long, so we’re being conservative,” Vista Land President and Chief Executive Officer Manuel Paolo A. Villar said.

A c c o r d i n g l y, t h e homebuilder only launched 16 projects with an aggregate value of P10.6 billion between Januar y and June. This

compares with the 27 projects worth P20.7 billion unveiled in the comparable period in 2016.

The slowdown in re s e r v at i o n s a l e s a l s o reflected the weaker demand f rom O F W s a m i d t h e slump in global oil prices that particularly dragged economies in the Middle East and the general weakness in the global economy.

In the first semester,

reservation sales climbed 2% year on year to P29 billion.

In comparison, reservations jumped 9.5% to P28.3 billion in the same six-month period last year.

“I think really there is slowdown in sales because last year we registered 10% growth, this year we only got 2% growth in sales. It actually trickled down to the revenues,” said Mr. Edong.

The company, however,

expects to match the P56billion reservation sales reported in 2015 toward the yearend, at the minimum, Mr. Villar noted.

The leasing business, whose share in the revenue effort widened to 13% from 9%, lifted Vista Land during the semester. It delivered 64% more revenues or P2.1 billion compared with the P1.3 billion posted for the vista/PAGE 11

Puregold earns P1.1B in April-June T YCOON Lucio L. Coowned Puregold Price Club, Inc. earned P1.1 billion in the second quarter, on the back of higher consumer spending and continuous store expansion.

In a disclosure to the stock exchange on Thursday, the country’s second largest grocery retailer said its net income rose 17% to P1.1 billion during the April to June period from P952 million a year ago.

Consolidated net sales likewise climbed 17% to P26.3 billion in the second quarter from P22.5 billion last

year due to robust consumer demand in its newly opened and existing stores.

Puregold’s consolidated net earnings for the first semester stood at P2.26 billion, up 13% from P2 billion during the same period in 2015.

The grocer y retailer attributed the rise in net income in the first half of the year to the continuous expansion “of both organic as well as strategic acquisitions and investments.”

For the first half, net sales increased by 18% to P51 puregold/PAGE 11

FAI included in prestigious Ph’s Top 10 Developers Awards Filinvest Alabang, Inc. was recognized by BCI Asia Awards 2016 as one of the Philippines’ Top 10 Developers.

The award was given last June 7, 2016 at New World Hotel Makati.

8

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Two Cagayanons reap medals in int’l singing tilt

O

By STEPHEN PEDROZA and MARK FRANCISCO

NE of Xavier A r t i s t C e nt e r ’s prem ier t a le nt s and Development Communication junior o f X av i e r Un i ve r s i t y, Jeremiah Torayno reaped two medals at the 20th World Championship of

Performing Arts (WCOPA) held in L ong Beach, California from July 8 to 13.

A not her Kagay-a non singer, Debbie Cabague, 27, won a gold medal in Western Countr y genre, silver in Gospel, another silver in Contemporar y,

and bronze medals in both Jazz and Open categories.

She competed in the 25-29 years old set.

A former member of the reputed GClef Society of Liceo de Cagayan University, Cabague works as a voice consultant for a school in the city and is a wedding singer. She is also a Mass

Communication graduate of Liceo.

Torayno, who competed i n t he 18 -24 ye a rs old bracket, bagged a silver medal in the Gospel genre a nd a bron z e meda l i n Country.

“I offer these medals to all those who helped me in my journey,” Torayno wrote

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in an online post.

“C heers! T ha n k you and God bless, everyone.

I love you, Philippines! Ad majorem Dei gloriam,” he added.

For her part, Cabague said “taking the leap of faith means courage to stand , determination to persevere, self discipline , child like trust and most of all abiding in His grace no matter what.”

“I love singing , I love

teaching music to kids I also love being behind the curtains but who would have thought that I will compete and be a representative of the country this year , never in my wildest dreams,” she added. “When I chose to stand , when I persevered , when I disciplined my self and trusted Him (God), it was only possible because I did abide in His grace.” medals/PAGE 11

Parents role in studies skills of school age children

By WARLIE U. ABEJUELA Teacher III Tikalaan Central Elementary School

Debbie Cabague

Jeremiah Torayno

Misamis Oriental Sports Council mulled

By Mark D. Francisco

C AG AYA N DE ORO CITY – The Sangguniang P a n l a l a w i g a n (S P) o f Misamis Oriental is mulling to institutionalize the sports program of the provincial government by creating an

ordinance to its effect.

The incumbent governor of the province, Yevgeny Vincente B. Emano, and his predecessor Oscar S. Moreno are staunch sports advocates but their respective

programs are not backed by any SP-approved funding.

“Ang ex isting karon, petse-petse lang, kung naay sponsor, then didto kami magsulod ug mag-field og mga players. But after that, wala na dayon. We want to sports/PAGE 9

IN the Philippines where families are closely tied with each other, parents have roles in the education of their children even through college. That’s why parent associations are active in schools whether public or private. They believe that through their involvement, they can exert positive influence on their children’s educational outcome particularly in academic areas. Of course, they also have a hand in the choice of extracurricular clubs their kids will attend such as the Girl Scouts for instance.

The Department of Education (DepEd) has seen to it that parents must be involved. Parents,

guardians and even yayas can be involved either explicitly or implicitly. Parents are sometimes explicitly reflective, aware and active in relation to their decisions about being involved in their children’s education. There are even instances where other family members such as grandparents, ates and uncles are involved in these PTAs. At the household level, the attitudes of parents towards their kids can admittedly affect their academic performance.

Disciplining the kids for instance to stick studying instead of playing Pokemon Go can be a very good example of such situation.

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Lure... from page 1

promot ion, and p olic y support.

Three corridors in the southern Philippines were identified by MinDA: the Northern Mindanao Development C orridor, t he Western Mindanao Development Corridor, and the South-Central Mindanao Development Corridor.

Among the major road projects under the development corridors are Php2.2-billion Zamboanga West Coast Road, Php1.3billion Zamboanga del Sur Coastal Road, Php1.1-billion Glan-Sarangani Coastal Road, Php1.1-billion Davao del Norte – Bukidnon Road, Php701-million CompostelaD av a o O r i e nt a l R o a d , Php1.08 billion Cagayan De Oro-Talakag-Camp Kabaitan Road, Php1.6-billion Butuan-CDO-Iligan Road High Standard Road, and Php739-million PalimbangKalamansig Coastal Road.

Aside from major road constructions, other projects under the development corridors include Php5.1billion Panguil Bay Bridge P ro j e c t , P hp 1 9 - bi l l i on Davao Port Modernization Project, feasibility study for Mindanao Railway System, and Mindanao River Basin Flood Control Projects.

Within the corridors are five development clusters which sector depends on the competitive advantages and economic potentials of the area.

The Northern Mindanao Development Corridor will house business and industrial cluster -- the gateway to domestic market and hosts of heavy and large industries.

The Western Mindanao Corridor will host mariculture and trade cluster as this area produces 60 percent of fishery-based products in Mindanao while having edge for cross-border trade with Malaysia, Indonesia, and Brunei Darussalam.

The South-Central Mindanao Development will accommodate clusters of biodiversity and eco-tourism, food, agribusiness industry, and logistics as well as food basket.

Aside from the d e vel opme nt c or r i d ors and clusters, Mindanao is attractive for businesses with its competitive electricity rate at Php8.24 per kilowatt hour compared to Luzon’s rate of Php10.10/kWh and Visayas’ rate of Php10.27/ kWh. Lao mentioned that the region will have surplus in power supply by next year as energy projects will kick off operation in 2017 with additional capacity of 550.6 megawatts. (PNA)

Ignore... from page 1

It alleged that the 47 companies named in the petition are responsible for disrupting the rights of Filipinos affected by extreme weather events and other changes related to global warming through their carbon pollution that trapped

heat in the atmosphere and contributed to the problem.

The petition was filed by typhoon survivors, advocates and non-government organizations, including Greenpeace S eA. The petitioners are supported by more than 31,800 Filipinos out of the more than 128,000 global online supporters.

Greenpeace Philippines Country Director Amalie Obusan described the case as “a landmark case” and the CHR’s move as “unprecedented.”

While there are “similar” cases — last year’s “game changer” decision when a Dutch district court ordered the Netherlands government to make deeper greenhouse gas (GHG) emissions cuts; the Klimaatzaak (“climate case”) campaign that have up to 9,000 co-plaintiffs urging B elgium for a 40 percent cut in GHG emissions from 1990 levels by 2020; Peruvian farmer Saul Luciano Lliuya who had sued German energy firm RWE for its historic activities that contributed to climate change and endangering his and other families living on the floodpath of a glacial lake; and the Our Children’s Trust case in which 11- to 15-year-old kids have filed petitions in court all over the United States to make policymakers protect them from the worsening effects of climate change — the Philippine case is way up there than the rest as this is the first of its kind in the world.

“This is the first case in which a national human rights institution is investigating the responsibility of private companies for causing climate change,” s aid Torontobased L awyer Kristin Casper, litigation counsel of Greenpeace’s Climate Justice and Liability Project.

“This is the first time that a national human rights body has taken action to address the potential human rights impacts on its country’s citizens resulting from climate change and involving companies that are responsible for a large percentage of cumulative g l o b a l i n du s t r i a l C O 2 and methane emissions.

It is the first time that Big Polluters have been ordered to respond,” Soriano and Abad said in their email.

All eyes on PH This case has the world’s eyes focused on the Philippines. It has put the fight for climate justice on the slender shoulders of Filipinos.

Abad said: “ There is a growing global climate justice movement working to strengthen the capacity of people around the world to take action inside and outside the courts. With climate scientists telling us the worst is yet to come and people unwilling to give up their lives and livelihood in order for companies to keep profiting at their expense.

More and more people in other countries will launch similar actions aimed at protecting their rights in

this era of climate change.

It’s already happening in the US, Pakistan, and the Netherlands.”

The case with the C H R , S or i an o s ai d, i s “groundbreaking as it starts to establish the moral and legal ‘precedent’ that big polluters can be held responsible for current and threatened human rights infringements resulting from fossil fuel products that when used as intended contributing significantly to climate change.”

“This is what climate justice is all about: to protect the rights of all human beings to this earth – those who already inhabit it and those yet to be born. We must reverse the burden of disproportionate impacts created by those who have profited the most from pumping carbon dioxide into the atmosphere. They must take steps to prevent the havoc already being wreaked by climate change,” Abad added.

While the CHR cannot impose any binding sanctions against the 47 companies, it could make recommendations and issue findings that the government or the courts could use to demand action from the companies. It would also force the companies to directly face those who suffered and are suffering from the impacts of their products and operations.

“Although the Commission is not a judicial body, its finding of fact is generally accorde d g re at resp e c t by courts, as well as by Congress and the Executive Department. It has the power to compel persons accused of human rights violations to attend and testify at hearing or public inquiry or to produce relevant documentation.

The Commission can also recommend that a claim be filed with a competent court,” Soriano and Abad said in their joint email.

The petition was filed before the CHR in September 2015. By December, the CHR announced that it will open an investigation in 2016. Also last December, the case was announced at the COP21 international climate change summit in Paris.

Durian... from page 1

of fruits this year due to a dr y sp el l t hat st ar te d in the fourth quarter last year and lasted until June 2016.

Ab out 50,000 dur ian trees died from the drought, according to DA program coordinator Melanie A. Provido.

This week, the city council will look into the impact of the drought on t h e a g r i c u l t u r e s e c t o r, s aid C ounci lor Mar iss a S . Ab e l l a , h e a d o f t h e committee on agriculture.

“We wi l l ensure t hat our dur ian far mers wi l l not be left behind in the rehab plan. Davao City is known as durian capital and [the fruit] is part of b eing Dabawenyos.

We c a n n o t a l l o w a n y

phenomenon like El Niño to s e ve rely af fe c t production, especially t hat t here is a g rowing demand for durian abroad,” said Ms. Abella.

AUSTR ALIAN FOR AY Candelario B. Miculob, chair of the Durian Industry Council of Davao City (DICDC), said pro du c e rs h ave broke n through the international market wit h exp or ts to C hina and Singap ore.

Au s t r a l i a i s an ot h e r market that they are eyeing given demand for f rozen dur ian, s aid Mr. Mic u lob.

“We need to seize the m o m e nt a n d a l s o l o o k at how we can intensif y our presence in these markets,” he adde d.

Mr. Mic u lob s aid he has already written to t he DA for assist ance in addressing the biosecurity st andards of Aust ra lia. “ We a r e f a c e d w i t h biosecurity problem since Aust ra lia is st r ic t on t his,” he s aid.

Mr. Mic u lob s aid t he Durian Festival, now on its four t h ye ar as a sube vent of t he Kad ayawan Festival, the city’s biggest e v e nt h e l d e v e r y t h i rd w e e k of Au g u s t , w i l l push t hroug h despite a shor t age in supply due to E l Niño. “ We e x p e c t a l o w supply of dur ian dur ing the Kadayawan since some of t he far mers have yet to har vest their fruits by September or October as a resu lt of t he droug ht,” Mr. Mic u lob s aid.

Durian Festival organizers have noted an incre as e in annu a l s a les f rom ab out P500,000 in 2014 to P600,000 last y e a r. T h e y a r e a i m i n g for P800,000 t his ye ar.

Based on DICDC data, there are currently ab out 8,000 he c t ares in t h e re g i on a l l ot t e d f or du r i an , of w h i ch 2 , 8 0 0 hectares are in Davao Cit y.

The re g i on’s production has declined from 70,063.66 metric tons (MT) in 2013 to only 62,768.76 MT in 2014.

Other parts of Mindanao that have durian farms are the Caraga Region, Sarangani p r ov i n c e , a n d p a r t s o f the Autonomous Region in Muslim Mind anao.

Sports...

from page 8 change that. We must have a regular provincial pool on standby which we can field in any tournament,” SP member Gerardo Sabal III, commit tee on spor ts a nd yout h cha i r, s a id .

Both Emano and M o r e n o (d u r i n g h i s s t i n t) p l a y b a s k e t b a l l severa l times a week a nd encou r a ge s C apitol officials to play alongside him. Moreno also trained wou ld- b e b ox e r s w h i le Ema no had expressed i nterest i n d iscipl i nes beyond the more popular basketball.

Du ri ng t he t i me of t heir predece s sor, t he for mer G o v e r n o r A n t o n i o P. C a l i ng i n, h i s t wo s on s who were a l l ba sketba l l athletes spearheaded t h e p r o v i n c e ’s s p o r t s program but on an executive initiative, with no funding backed by the prov i nc ia l boa rd .

Mr. Saba l, who bec a me ma na ger of t he prov i nc e - ow ne d Pel ae z Spor ts C enter a f ter it was ref urbished in 20 07, intends to change all that.

“O u r pr o g r a m mu s t emanate from the municipal and city levels.

I have sta r ted touring a l l t he t wo cit ie s a nd 23 t ow n s i n ou r pr ov i nc e and so far, I have received p o s it i ve fe e d b a c k e ve n from mayors who are not politically allied with the gover nor,” he re p or t e d during t he SP week ly session la st Wed nesd ay.

Und e r t he prop o s e d mechanism, Capitol would f ield a sports coord i nator i n each cit y and town in the province a nd coord i nate w it h t he l o c a l g o v e r n m e nt u n i t (LGU) in coming up w it h a pool. W het her the athletes will be culled at t he ba r a ngay le vel or picked f rom a t r yout or d e t e r m i n e d by s c ho o lbased sports coordinators is up to t he LGU. “We w i l l a lso i nclude t he out- of-school yout h and t he persons w it h d is abi l it ie s ,” M r. Saba l, who expected for t he measure to be passed before t he end of t his mont h, added .

“Once t he prov i nc ia l pool is complete, we w i ll f ield t hem i n Pa l a rong Pambansa, Batang Pinoy, Mindanao Friendship Games, Shell Chess Championships, Shakeys Vol le y ba l l S er ie s , M i lo

9

L i t t l e O l y m p i c s , e t c . ,” he cont i nued .

Beyond basketball and boxing, Misamis Oriental has a lot of potent ia ls i n vol le y ba l l, law n ten n is , chess, soccer and similar d i sc ipl i ne s .

DEED OF EXTRAJUDICIAL SETTLEMENT OF ESTATE WITH WAIVER OF RIGHTS KNOWN ALL MEN BY THESE PRESENTS: This Extra-Judicial Settlement, made and executed in Cagayan de Oro City by: THE HEIRS OF BENITO Jr. & EMILIA ASOMBRADO, namely: 1. M I L B E N M. ASOMBRADO, Filipino, of legal age, married, resident of #75 San Isidro Street, Golden Glow Village, Upper Carmen, Cagayan de Oro City; 2.

NEIL M. ASOMBRADO, Filipino, of legal age, married, resident of #285, Zone 9, Patag, Cagayan de Oro City; 3. M I L A N I E M. ASOMBRADO, Filipino, of legal age, married, resident of #285, Zone 9, Patag, Cagayan de Oro City; 4. M I C H A E L M. ASOMBRADO, Filipino, of legal age, married, resident of Rosa Sayson Village, Maningcol, Ozamis City, WITNESSETH THAT: the above named are the children and compulsory heirs of the late BENITO C. ASOMBRADO Jr. & EMILIA M. ASOMBRADO, who died intestate on February 27, 2004 inside Superferry 14 in the vicinity of Mariveles, Bataan and who at the time of their death, left a Parcel of Land known as Lot 9, Block 11, Psd-10-010426 situated in the Barrio of Patag, City of Cagayan de Oro, Island of Mindanao, containing an area of ONE HUNDRED THIRTY FOUR (134) SQUARE METERS, more or less, declared in the Heirs of the late BENITO C. ASOMBRADO Jr. & EMILIA M. ASOMBRADO, is the subject “DEED OF EXTRAJUDICIAL SETTLEMENT OF ESTATE WITH WAIVER OF RIGHTS” Under Notary Public of CASIANO A. GAMOTIN, JR., per Doc. No. 1; Page No. I; Book No. 57; Series of 2016.

BWM: Aug. 1, 8 & 15, 2016

10

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11

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Port... from page 2

to “encourage more firms to locate in our port” to avail of the competitive advantage it serves.

The ARMM and the Bureau of Customs has a standing agreement, which was inked in November last year, granting investors in the region duty-free importation of identified materials and equipment.

It allows locators or investors registered under ARMM’s Regional Board of Investments and other economic investors to enjoy duty-free importation of

capital equipment, breeding stocks, generic materials, import construction materials, and office equipment.

Mabang explained that t hes e lo cators are a ls o entitled to avail of other tax incentives both from the regional government and the local government units concerned. (PNA)

Support... from page 2

Ac ai n , w h o ow ns a three-hectare farm planted w i t h c o c o nu t , b a n a n a and vegetables, said the interventions being given by the government does not

Republic of the Philippines SUPREME COURT REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE CLERK OF COURT AND EX-OFFICIO SHERIFF (HDMF) PAG-IBIG FUND Mortgagee,

EJF FILE No. 2016-298

-versus For: Extra-Judicial

Foreclosure Of Real Estate

Mortgage under Act 3135, as

Amended by Act No. 4118 ANECITO L. GALLENA married to ZENA MARIA L. GALLENA Mortgagors x-----------------------------------------/ NOTICE OF EXTRA JUDICIAL SALE EJF File No. 2016-298 “Upon extrajudicial petition for sale under Act No. 3135 as amended

by Act No. 4118, filed by (HDMF) PAG-IBIG FUND, against ANECITO L. GALLENA married to ZENA MARIA L. GALLENA, of Legal age, Filipino citizen, with postal address at LOT 5, BLOCK 3, GOLDEN EAGLE STREET, WOODLAND HEIGHTS, MCASANDIG, CAGAYAN DE ORO CITY to satisfy the mortgage indebtedness which amounts to SIX HUNDRED SIXTY FOUR THOUSAND SIX HUNDRED THIRTY FIVE PESOS & 97/100 (P664,635.97), inclusive of interest and penalty charges as of JUNE 6, 2016, the undersigned will sell at public auction on SEPTEMBER 2, 2016, at 10:00 A.M. to 4:00 P.M. AT THE REGIONAL TRIAL COURT, City Tourism Hall, Cagayan de Oro City to the highest bidder, for cash or manager’s check and in Philippine Currency, the following property described below including all existing improvements found thereon, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-176416 LOT : Portion of Lot : As Surveyed for : Land Use : Location : Boundaries :

LOT 5, BLOCK -3, Psd-0-044328 2835-B, Psd-10-042804 Liberty Land Corporation (Woodland Heights) Residential Macasandig, Cagayan de Oro City NW., 3-4 by Road Lot, Psd-0-044328 NE., 4-1 by Lot 3, Block 3, Psd-10-044328 SE., 1-2 by Lot 6, Block 3, Psd-10-044328 SW., 2-3 by Lot 7, Block 3, Psd-10-044328

Beginning at a point marked “1” on plan, being S. 82 deg. 59 min.W., 174.19 m. from BBM No. 8, Cad. 237, Cagayan Cadastre, THENCE: 1-2 S. 70 deg.

31 min.

W., 12.00m.

2-3 N. 19 deg.

30 min.

W., 13.01m.

3-4 N. 70 deg.

31 min.

E., 12.00m.

4-1 S. 19 deg.

30 min.

E., 13.01m.

Area : One Hundred Fifty Six (156) Sq. m. more or less Bearing : True Description of Corners : All points are P. S. Cyclc. Conc. Mons.

15x50 cm.

Original Survey/ Date Approved : November 1926 Subdivision Survey : December 1-15, 2002 Date Approved : December 26, 2002 Geodetic Engineer : Fernando B. Gurrea *********** All sealed bids must be submitted to the undersigned on the above stated time and date.

In the event auction sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication.

Prospective buyers may investigate for themselves the title hereinabove described and encumbrances thereon, if any there be.

Cagayan de Oro City, July 26, 2016.

BWM: Aug. 8, 15 & 22, 2016

(Sgd.) EFREN G. MACABAYA Sheriff IV

jibe with the needs of the farmers.

“Farmers need financial support particularly when there are calamities such as drought,” he said. They also need agricultural equipment as most farmers are still reliant on carabaos and manual farming.

He said farmers also need more knowledge on good agricultural practices (GAP) as most are not yet GAPcertified. (PNA)

Hurst... from page 4

accomplishment and success than running right at your fear and coming out on the other side of it, knowing you beat it. So for your own success and happiness, you can ask Jesus Christ to come into your heart and take control of your life. Then, when you know that God Himself is on your side, there’s absolutely no one or nothing to be afraid of.

With His love and power inside, you can run right through your fears to the great life He has ready and waiting for you. Just Think a Minute…

Analysts... from page 6

It noted that credit growth continues to rise, with the June 2016 expansion at 17.7 percent year-on-year, after a

slowdown in the latter part of 2015.

“If the rebound is sustained, it could put the health of the financial sector at risk,” it said, but discounted a hike in BSP rates due to resurgence of strong credit growth.

The research note said the central bank earlier managed to address risks of strong credit growth through the implementation of macroprudential measures.

“G i v e n t h e b e n i g n inflationary outlook, we think the central bank will keep its key interest rate unchanged at 3.0 percent not just for the rest of this year, but to the end of 2017 as well. The consensus is also expecting rates to be left unchanged this year, but most analysts are expecting hikes next year,” it added.

Vista... from page 7

comparable 2015 period.

“We haven’t set a target but we are going to increase the portion of the leasing. So, the leasing will increase definitely this year and again certainly next year -- so, probably until 2018 at a minimum,” Mr. Villar said.

Vista Land is looking to have developed 1.3 million square meters of malls, retail stores and business process outsourcing commercial

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region BRANCH 24 Cagayan de Oro City HOME DEVELOPMENT MUTUAL FUND, Mortgagee, -versus-

VALENTIN E. ACENAS,

Mortgagors. x---------------------------------------------------/

EJF FILE NO. 2016-342 FOR: EJF OF REAL ESTATE MORTGAGE UNDER ACT 3135

SHERIFF’S NOTICE OF SALE Upon extra-judicial petition for sale under ACT 3135 as amended filed by HOME DEVELOPMENT MUTUAL FUND (PAG-IBIG), mortgagee, against VALENTIN E. ACENAS, single, mortgagors, resident of Lot 10,12,14,Block 7, CAMELLA HOMES SUBDIVISION, Upper Carmen, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of June 10,2016, amounts to (P 1,740,689.62) excluding penalties, charges, attorney’s fees and expenses of foreclosure, the undersigned Sheriff will sell at Public Auction on August 30,2016 at 9:00 A.M. or soon thereafter at the main entrance of the Tourism Hall, City Hall, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the properties with all its improvements to wit:

centers in terms of gross floor area by 2018.

The company allocated P30.9 billion for capital expenditures for the year, P14.7 billion of which was already used in the first six months. The budget comprises P2.6 billion for land acquisition, P5 billion for land development and P23.3 billion for construction.

Puregold... from page 7

billion from P43.1 billion a year ago, as new stores in 2015 started full operations this year.

“Our first half same store sales growth of 7% for Puregold stores and 2.7% for S&R stores were driven by strong consumer demand,” said Puregold President Ferdinand Vincent P. Co in a statement.

He added that they are upgrading their target for Puregold same-stores sales growth to between 4.5% to 5% by yearend.

As of end June 2016, the Puregold group has a total of 308 stores nationwide that comprised of 261 Puregold stores, 10 S&R warehouses, 20 S&R New York Style Pizza stores and 17 stores of NE B odega and Budgetlane Supermaket that was acquired during the year.

Medals... from page 8

Torayno, who started joining singing competitions at the age of seven, was hailed as the Junior Mindanao Pop Idol in 2009. He also won the 1st CAPES Singing Idol, RAPSES Got Talent, and FASMIN Got

Talent.

Both Torayno and Cabague surpassed the national eliminations held simultaneously in different parts of the country on November 29 last year.

Overall, Team Philippines took home a total of 175 medals and awards at WCOPA which included 39 golds, 65 silvers, and 43 bronze medals. The team garnered 21 overall division plaques and 10 industry awards.

In addition, a handful of Pinoy artists won scholarships: one from Indasoul Entertainment, three from the New York Film Academy, and another one from the Millenium Dance Complex.

This year’s WCOPA drew together more than 2,000 performing artists from 61 countries.

Smart... from page 8

and the top fund houses of the Philippines: ATR Asset Management, First Metro Asset Management, Philam Asset Management, PhilEquity Management, and Sun Life Management.

SMart Investing will kickstart this journey towards financial literacy on August 22 in Cebu, at the Radisson Blu Hotel from 8:30 am to 5:00 pm.

The summit continues on August 23 at Cagayan de Oro for a 12:00 pm afternoon session at the Pryce Plaza Hotel. The last two days of the summit will be in Davao on August 25 at SM Lanang Premier, and in Manila on August 27 at SMX Mall of Asia, from 8:30am to 5:00pm on both days.

For more information on this event, visit the official Facebook page of COL Financial (https:// www.facebook.com/colfinancial) or register for the event at http:// bit.ly/COLsmartinvesting. PR

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL SUR 12th Judicial Region Branch 8 – Marawi City IN THE MATTER OF CANCELLATION SPL. PROC. NO. 2392-16 OF THE CERTIFICATE OF LIVE BIRTH OF JAMELAH RAMON H. SAID. JAMELAH RAMON H. SAID.

Petitioner, - VERSUS – THE ADMINISTRATOR AND CIVIL REGISTRAR GENERAL OF NATIONAL STATISTICS OFFICE, and THE CIVIL REGISTRAR OF MARAWI CITY, LANAO DEL SUR. X--------------------------------------------/

TRANSFER CERTIFICATE OF TITLE NO. T-99234

ORDER

A PARCEL OF LAND, Lot 14, Block 7, Psd-104305-017756, being a portion of Lot 3125, Cad-237, Cagayan Cadastre, situated in Barrio of Carmen, Cagayan de Oro City, Island of Mindanao. Containing an area of SIXTY (60) SQUARE METER MORE OR LESS.

Petitioner filed the instant verified petition for cancellation of her Certificate of Live Birth alleging, among others: that she was born on May 11, 1978 at Bo. Sangkay, Marawi City, which birth was belatedly registered by the petitioner herself with the Office of Civil Registrar, Marawi City, under Registry No. 96-1917: that unknown to the petitioner, her birth was registered by her father with the same office under Registry No. 99-4938, which erroneously contained May 11, 1974 instead of May 11, 1978, which error was only discovered when the petitioner secured paper (Secpa) of her Certificate of Live Birth from the National Statistics Office.

TRANSFER CERTIFICATE OF TITLE NO. T-99235 A PARCEL OF LAND (Lot 12, Block 7, Psd-104305-017756, being a portion of Lot 3125, Cad-237, Cagayan Cadastre), situated in Barrio of Carmen, Cagayan de Oro City, Island of Mindanao, Containing an area of SIXTY (60) SQUARE METERS MORE OR LESS. TRANSFER CERTIFICATE OF TITLE NO. T-99236 A PARCEL OF LAND (Lot 10, Block 7, Psd-104305-017756, being a portion of Lot 3125, Cad-237, Cagayan Cadastre, situated in Barrio of Carmen, Cagayan de Oro City, Island of Mindanao. Containing an area of SIXTY (60) SQUARE METERS MORE OR LESS. Prospective buyers may investigate for themselves, in the event of Auction Sale cannot take place for whatever legal reason the sale will proceed on the following day, without further notice, posting and publication, the title here in above describe and encumbrance thereon, if any there be.

Cagayan de Oro City, Philippines, July 29,2016

(Sgd.) TERESITO C. ESTENZO

Sheriff IV BWM: Aug. 8, 15 & 22, 2016

Finding the petitioner sufficient in form and substance, set the hearing to September 7, 2016 at 8:30 in the morning at Hall of Justice, Marawi City and anybody interested party may show cause, if any, why the petition should not be granted.

Petitioner shall cause the Publication of this order in a newspaper of general circulation in Marawi City and/or Lanao del Sur once a week for three consecutive weeks.

Furnish copies hereof unto the petitioner, counsel, respondents and the Office of the Solicitor General.

SO ORDERED. Marawi City, this 30th day of June, 2016.

BWM: Aug. 8, 15 & 22, 2016

(Sgd.) WENIDA B. M. PAPANDAYAN Acting Presiding Judge

12

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BusinessWeek MINDANAO www.businessweekmindanao.com

Feature

Monday | August 15, 2016

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Brownie Bites co-sponsors Tsada Awards Pilot

B

ite Me Up Corporation, makers of Brownie Bites, Cagayan de Oro’s latest pasalubong craze, is a proud sponsor of the 1st Tsada Awards, launched last June 22, 2016 by ABS-CBN at the Centrio Mall in Cagayan de Oro City.

Tsada Awards was conceived by the ABSCBN Northern Mindanao to honor 10 outstanding individuals who brought pride to Cagayan de Oro city.

Four years ago, the project had its progenitor in the Bilib sa Kagay-anon project which however, Brownie Bites Celebrity Endorser Nicole Abas-Datayan hosted the Tsada Awards Night.

was not continued the next year. Among its awardees were Stephanie Sol (1st Ms. Teen Philippines); Neil Catiil (#1 PH Triathlete); Elpidio M. Paras (Cable TV Pioneer); and Ian Lariba (Sports, Table Tennis) who recently represented the Philippines at the ongoing Rio Olympics in Brazil.

“We are looking forward to a 5 year run where we will present the other batches of awardees,” said program host Nicole Datayan. “We intend to continue with the awards during every City Charter Day on June 15, to recognize Kagayanons who have excelled in their respective fields, gained national and international recognition, and who have made remarkable contributions

Brownie Bites Chef Cathy Dano presents the Tsada Award for the lae Soledad Fortich to her husband Sonny and Daughter Maia.

or left a lasting legacy to us here in Cagayan de Oro.” Tsada Awardees for 2016 included Archbishop Santiago T.J. Hayes, S.J., in the field of education;

Ma.Soledad Neri-Fortich (Literature); Anita Quirit-Santos (Dance); Joselino “Nonong” Roa (Sports); Rafael Floirendo (Invention); Melvin Lachica (Fashion); Carlos

Neri Arce (Visual Arts); Wadhu Dharamdas (Business); Fidencio Laplap, Jr. (Public Service); and, Reuben Canoy (Former Mayor). bites/PAGE B3

Billboard

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DENIM AND BLUES AT SURPLUS

Denim, as timeless and authentic as it is never fails to surprise us with its new style possibilities.

Designers like Jonathan Anderson (J.W.Anderson), Karl Lagerfeld (Chanel), and Nicolas Ghesquière (Louis Vuitton) have

Shirtdress smart with denim.

reinvented the denim as sexy, cutout slip dresses, striped boyfriends, and denim-as-swim in their collections. Ralph Lauren, on the other hand, goes for boardroom blues, redesigning denim as a three-piece suit.

Distressed jeans are the style du jour.

The young and the stylish quickly picked up the trend with Bella Hadid looking runway ready with a distressed style, and Hailey Baldwin playing it cool in cut offs.

At Surplus, Denim is everywhere - think

dresses, crop tops, cut offs, tunics, skirts, jackets and joggers with a whole new attitude. Distressed, skinny, slouchy, dark wash or faded- wear it your way at Surplus.

The clothes celebrate the Blues trend - from

A girls’ denim crop top and a guys’ sleek denim shirt both go well with faded jeans.

light tones to dark hues.

And the best way to rock this look is to simply stick with crisp white color or go double blue.

The Denim and Blues collection is available at Surplus in SM City Cagayan de Oro in Surplus

stores located at most SM Supermalls. Items may vary per branch.

Stay updated as Surplus goes interactive. Like them at Facebook and Twitter at SurplusPH and enjoy great fashion deals on Instagram at surplus_ph.

Wild West. Go double denim with dark faded jeans for ladies and washed jeans for men. Both are worn with classic denim shirts.

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B3

Shell active chess winds up in CDO The five-leg Shell National Youth Active Chess Championships regional eliminations winds up on August 20-21 with another banner cast expected to slug it out at SM City Cagayan De Oro Cyberzone (3rd floor) for top honors in three divisions and berths in the grand finals.

It will be another two-day battle of wits with the top two players in the kiddies, juniors and seniors divisions, plus the top female from each side, joining the other top finishers in the first four legs in the national finals set Oct. 1-2 at SM Megamall.

Organizers said the listup is ongoing with the event open to all Filipinos, nontitled players who are bona fide students certified by their respective schools and registrars. Listup is on a first-come, first-served basis with a maximum of 300 participants.

For details, contact tournament director Alex Dinoy at 0918-3705750 or 0922-8288510, or Northern Mindanao leg coordinator Jun Cuizon at 09051166326.

Previous grand finals winners are also allowed to join in their respective divisions provided they are still within the age limit, according to the organizers of the annual circuit sponsored

by Pilipinas Shell, a global leader in power, energy and

gas technology.

Registration forms can also be downloaded at the Shell website www.shell.com.ph/ shell_chess. Listup is on a first-come, first-served basis with a maximum of 300 participants.

Play will be a nine-round Swiss system tournament with time control of 20 minutes with five time-delayed mode (Bronstein system).

With the last spots in the national finals at stake, keen competition is seen in all categories, including in the 7-12 age group, the 1316 bracket and the 17-20 section of the event sanctioned by the National Chess Federation of the Philippines.

Social investment programs like the Shell National Youth Active Chess Championships is one of the ways the company expresses its commitment to make a positive impact in the communities where it operates.

Furthermore, Shell continuously works towards sustainability by meeting increasing energy demand and supply challenges through smarter products and cleaner energy, smarter infrastructure, promoting smarter use, and by developing new energy sources while addressing the impact on the environment, through cleaner burning-natural gas and advanced fuels and lubricants technology.

Bites...

Ms. Soledad Neri-Fortich, which was received by her husband Sonny and daughter Maia. Bite Me Up Corp. also gifted all of the award presenters with a box of Brownie Bites.

Brownie Bites is now available at the following outlets: 7-Eleven Cagayan de Oro Outlets, Halal Pasalubong Laguindingan Airport, Starmart - Caltex Gusa, Vjandep Bakeshop Bulua National Highway; at the following outlets in Limketkai Mall: E.S. Pasalubong, Pasalubong Shop (besides Island Souvenirs), Prime Meat Deli (Rosario Crescent); Thai Me Up Centrio Mall; Malunggay Pastel Breads & CafĂŠ (Masterson Avenue Uptown & Divisoria), and Monster Kitchen (San Agustin Rizal near Cathedral & Cogon).

from page B1

Ms. Datayan acknowledged the assistance of the Cagayan de Oro City Historical and Cultural Commission headed by Dr. Erlinda M. Burton, for their help in coming up and finalizing the list of Tsada Awardees.

Catherine Lopez Dano, one of the spark plugs behind Bite Me Up Corporation, said they consented to be one of the Tsada Awards sponsors not only to help recognize forgotten Kagay-anons who excelled, but also because the sponsorship also brings to the public awareness an outstanding Kagay-anon product in Brownie Bites.

Chef Dano awarded the plaque for the late

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