Page 1

BusinessWeek MINDANAO

2013 ppi’S Best in Business and Economic Reporting

YOUR Mindanao-wide BUSINESS paper

Volume VI, No. 017


Market Indicators

As of 6:00 pm August 4, 2015 (tuesday)



US$1 = P45.61



X X Briefly


25.03 points

Eco-tourism DAVAO City -- Mayor Vicente Orencia of Governor Generoso, Davao Oriental has observed a surge in the entry of domestic tourists in his town due to the presence of many pristine beaches and Mt. Hamiguitan which is the haven of Almaciga trees and the Philippine Eagle. He said the town has a lot to offer like the mountains of Hamiguitan where the famous bonsais grow. Orencia said several infrastructure projects are already in the pipeline to improve its tourism destinations like the national road leading to the Cape San Agustin and its view deck. “People as far as Davao City spend their weekend here enjoying the view and the peace, since this is also an insurgencyfree area,” he said.

2014 ppi’S Best in ENVIRONMENTAL Reporting

Wednesday | August 5, 2015



BBL is beyond party lines T

By BONG D. FABE, Contributing Editor

HE neophyte congressman representing the second congressional district of Misamis Occidental yesterday said that what they hope to achieve with the passage of the Bangsamoro Basic Law (BBL) goes beyond party line.

Rep. Henr y Oaminal of the Nationalista Party, who defeated LP stalwart and erstw hi le Mis amis Occidental Governor Loreto Leo Ocampos during the 2013 elections, said that the BBL is Mindanao’s best chance for peace and development, thus worthy of support from all political parties. “What we hope to achieve in the Bangsamoro goes beyond party lines and personal ambitions. BBL is about addressing historical

should not wait for more lives to be lost just to realize how important the BBL is,” he said.

He assured BBL supporters that the Lower House is working to pass the BBL. “We in the House of

Representatives will continue doing all we can to ensure that this much-needed piece bbl/PAGE 11

injustices, establish genuine autonomy and paving the way for peace and progress for the Bangsamoro,” he stressed. Oaminal, one of the vice chairmen of the Adhoc Committee on the BBL, urged his colleagues to rally behind the approval of the bill. “I firmly believe that the BBL is our best chance for peace and development in the Bangsamoro and in Mindanao. We strongly support President Aquino’s pronouncement that we

BEST IN HOTEL INDUSTRY: Cagayan de Oro City’s N-Hotel Manager Ami C. Saniel (center) and Desk Supervisor Alex A. Podador (right) received the awards for Outstanding Business Leader in the Hotel Industry category during the recent 4th Mindanao Business Leaders and Entrepreneurs Awards 2015 held at Centrio Ayala Mall in Cagayan de Oro City. Presenting the award is Engr. Bon Henrix M. Zafra of the Ayala Corporation. photo by gerry gorit

Editorial and advertising email : • Cell Number : 0917-7121424 • 0947-8935776

BusinessWeek MINDANAO

Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776 Editor: Nelson Constantino

E conomy 2 Iron Fortified rice soon to hit Mindanao market T 2013 ppi’S Best in Business and Economic Reporting


2014 ppi’S Best in ENVIRONMENTAL Reporting

wednesday|august 5, 2015

HE Food and Nutrition Research Institute of the Department of Science and Technology (FNRIDOST) is the lead government agency in food fortification, particularly rice fortification. The FNRI-D OST recently developed iron fortified rice (IFR) and extruded iron rice premix (IRP). The FNRI has been perfecting the extrusion of IRP, an essential component in iron fortified rice. An iron fortificant is added to ordinary rice to combat iron deficiency anemia (IDA), which still affects vulnerable population groups like pregnant and lactating women, including children. Currently, the Institute is innovating the IRP where multiple micronutrients are incorporated in addition to iron.

One of the challenges faced by the FNRI is transferring the technologies to adoptors w h o w i l l e v e nt u a l l y produce and market them. Years of research spent in developing a prototype becomes gratifying once the pro duct is made available in the market and the demand for it is sustained. One such gratification is that extruded IRP and IFR are already available in selected retail stores in Metro Manila, Bataan, and Zambales. Negotiations with Racky Doctor of Nutridense Foods are ongoing for the technology transfer of IRP and IFR in Santa Barbara, Pangasinan. On the other hand, Mr. Gaspar Lorono, of Lorono Rice Mill in Compostela Va l l e y h a s a l r e a d y fabricated a blending

machine with a capacity of 64 sacks daily, which will be used in the production of IFR after it is calibrated. Fur thermore, CLG Health Foods, Incorporated of Mr. Marbil Go from General Santos City has signified interest in the commercialization of IRP in Mindanao. G o’s c o m p a n y i s purchasing a complete extruder line which has a capacity of producing 100-120kilos of IRP hourly. Mr. Go is also supplier of the existing coated iron rice premix and has decided to shift to the improved extruded IRP developed by the institute. The FNRI, in partnership with DOST Regions XI and XII, other government agencies, and the technology adaptors, is aiming for the commercialization of the extruded IRP and IFR

in Mindanao within the second quarter of 2015. Wider availability of the extruded IRP and IFR will benefit consumers and will be a great step in eradicating IDA in the country. Initial activities were conducted by the FNRI for the commercialization of IFR and extruded IRP in Mindanao spearheaded by Dr. Imelda A. Agdeppa, Assistant Scientist, and Ms. Marcela C. Saises, Senior Science Research Specialist. The activities include awareness seminars for consumers, rice millers, traders, retailers, and food establishments in Davao City, Digos City, Compostela Valley, Tagum City, Mati City, Tacurong, and General Santos City. Other activities we re d i a l o g u e s w it h local government units, health centers, and other government agencies, as well as meetings with local fabricators, prospective adaptors and the IFR monitoring task force. The group observed increased awareness on the use and benefits of IRP and IFR. Consumers, stakeholders and government units are now more receptive to the commercialization of the extruded IRP and IFR in the area. The major players for the commercialization of the IRP and IFR in Regions XI and XII are being mobilized and the market is ripe for the commercialization of extruded IRP and IFR. Hopefully, sustainability of extruded IRP and IFR in Mindanao will be achieved with the help of social marketing, strong political will, a vigilant monitoring task force,consumer patronage and quality supply of extruded IRP and IFR.

Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

wednesday|august 5, 2015


BusinessWeek MINDANAO



2013 ppi’S Best in Business and Economic Reporting 2014 ppi’S Best in ENVIRONMENTAL Reporting


wednesday|august 5, 2015

BusinessWeek MINDANAO


Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO ROSE MARY D. SUDARIA, Ph.D. Vice President for Finance


Vice President for CorporateAffairs

Joe felicilda

Vice President for Administration

joe palabao

Vice President for Marketing


Alejandrae Uy

Cheng ordoñez

Section Editor

Executive Editor

gilbert y. chao


Motoring Editor

Associate Editor



Regional Editor Caraga


Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO Legal Counsel

SHIELA gosanes Advertising

Cris diaz mike baños Uriel quilinguing Contributing Editors

MARKETING staff manila office: Unit 310 Valero Plaza, Valero Street, Salcedo Village, Makati City; lani vallido-Marketing Manager DAVAO: JESUS P. PALABAO 0926-190-9063 / 0946-242-6672

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463826-272-000 – VAT. Reg., and with Business Permit No. 201512879. Tel. Nos.: (088)8578447, 74-5380, 0923-432-0687, 0917-7121424 Website: E-mail :

Obama - a convinced European?


he UK has to stay in the EU, Barack Obama says. Only then will it be able to continue to play a role on the international stage. More than anything, he has US interests in mind, German TV - commentator Gero Schliess voiced out on screen last night. Indeed, some observers may have rubbed their eyes in disbelief. Please count me in: For the longest time, the Americans had gone out of their way to avoid EU matters. Yet, suddenly US President Barack Obama is concerned about the unity of Europe, urgently advising the British that they should not turn their backs on the “Group of 28.” It remains to be seen whether Obama has done himself any favors with his unusually public plea. Euro-skeptics in Britain have already said they will not tolerate his meddling. The president has repeatedly stated that he cannot imagine a European Un i o n w i t h o u t G r e a t Britain. However, he has never expressed himself so directly in public. Has Obama become a convinced European? Has he come to appreciate a strong and unified Europe in light of the increasing gravity of global crises? I am pretty


Oro Chamber

Don’t Defeat Yourself

hink a minute.Recent studies show that only 1 out of 3 people have healthy self-confidence. That means 2 out of every 3 people simply don’t know the ability they already have to be successful, even though it’s right there in their hands! If you want others to believe in you, you have to believe in yourself first. Remember: “No one can make you feel inferior unless you let them.” A successful businessman says: “You can’t push anyone up a ladder unless he knows he can climb himself.” Think a minute.Recent studies show that only 1 out of 3 people have healthy selfconfidence. That means 2 out of every 3 people simply don’t know the ability they already have to be successful, even though it’s right there in their hands! If you want others to believe in you, you have to believe in yourself first. Remember: “No one can make you feel inferior unless you let them.” A successful businessman says: “You can’t push anyone up a ladder unless he knows he can climb himself.” One of the most lethal weapons that will kill your success in life are these 2 little words: “I can’t.” Did you know people used to believe that if human beings traveled faster than 30 miles an hour it would stop our circulation of blood and kill us? Thank goodness a few

sure,that is only part of the truth. The rest is that he is concerned with American interests. During World War II, the British and Americans were comrades in arms. Even after the war, the Americans knew that they could count on the British to join their battles, despite the United Kingdom’s waning power. Now, however, there is a growing fear in Washington that the British are out of the international power game: They are militarily weak and increasingly paralyzed by domestic issues. Hence, they are nowhere near the center of European power, which has now concentrated around Germany and France. C ommentator Gero Schliess is very true in saying, that analysis is generally correct. The budget cuts of the past several years have seriously hindered the ability of the British armed forces to partake in global interventions. Their throttled combat missions against the “Islamic State” (IS) offer final evidence of that. One seeks a British presence in the Ukraine crisis in vain, with Germany now playing the central role there. The same goes for crisis management in Greece.

A referendum on the Un i t e d K i n g d o m’s E U membership is scheduled to take place before the end of 2017. The risk of a victory by Euro-skeptics is serious. This will demand the full attention of the government, with little energy left over to maintain Great Britain’s role as an indispensable nation. When parliament refused to approve a mandate for the British air force to participate in attacks on IS strongholds in Syria, many in Washington saw it as a definitive departure from that role. If one lo ok b ack in history, one sees that Great Britain has long been an important intermediar y between the United States and Europe. It is a country with which the United States shares many interests. It was after all, the British who raised European awareness for t h e i mp or t an c e of inter vent ionist foreig n and security policy, and who have kept the concept alive. And above all, it has been the British who have consistently argued for the liberalization of European markets and global freetrade in unison with the United States. In that sense, the United Kingdom is indeed the “best partner”

H ave M y Say

Klaus Doring

that the US could hope for, as Obama has said. Even if Prime Minister Cameron is able to convince his count r y men of t he importance of remaining in the EU, this will only slow Britain’s loss of relevance, and not stop the tectonic shifts of power that are taking? place in Europe. At the moment, momentum is moving toward another country: Germany. United States of Europe? This might remain as an impossible dream and can never be compared with the United States of America. +++ Email: doringklaus@gmail. com or follow me in Facebook or Twitter or visit www. or www. klausdoringsclassicalmusic.

Scam in HDMF benefits bared

Philippine Press Institute


Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776


A Minute

Jhan Tiafau Hurst people didn’t believe that silly, wrong thinking or we wouldn’t be riding in cars, busses, and flying on airplanes today. You’ll never know until you try. Roger Bannister was the first human being to run a mile in less than 4 minutes. But before he did it, most people in the world didn’t think it was even possible. Yet only a few months after Bannister did it, suddenly runners all over the world began running a mile in less than 4 minutes! If we believe something can be done, we’ll usually do it. Too many of us spend our lives looking around instead of looking up to the One Who made us and knows our potential. So why don’t you look up to Jesus Christ today? Ask Him to take full charge of your life, personally and professionally. You’ll be surprised how much more you can do. Just Think a Minute.


IFE’S INSPIRATIONS: “…‘Woe to him who piles up stolen goods and makes himself wealthy by extortion! How long must this go on?’…” (Habakkuk 2:6, the Holy Bible). -ooo SCAM IN HDMF BENEFITS BARED: Last July 25, 2015, I wrote the Makati City branch office of the Home Development Mutual Fund (HDMF) on behalf of two retired public school teachers, Mrs. Carlina M. Montero and Mrs. Esperanza Rivera, from Taguig City, to complain about supposed payments to them of big amounts of money by HDMF, but which they did not receive. Montero and Rivera told me that according to various documents given to them, they were supposed to have claimed from HDMF “membership maturity” benefits. For Mrs. Montero, she appeared to have applied for and then received two tranches of the monetary benefits. The first was in the amount of P2,163.38, while the second was in the amount of P47,480.66. For Mrs. Rivera, she appeared to have applied for and then also received the amounts of P14,281.51, and P19,945.62. The problem here is that both

Mrs. Montero and Mrs. Rivera did not apply for any such “membership maturity” benefits. And neither did they receive any of the amounts supposedly paid to them. -ooo EX PUBLIC SCHOOL TEACHERS VICTIMS OF SCAM: In my letter for Mrs. Montero, here was what I said: “Salamat sa Diyos, sa Ngalan ni Jesus! Ms. Carlina Mauricio Montero, a member of your agency with HDMF ID No. 001127790609, sought our assistance in connection with documents which was furnished her showing that she received the amounts of P47,480.00 and P7,060.42 from your agency...“Ms. Montero is saying she is not aware of any claim she made that would entitle her to receive such amounts, and that, up to the present, she has not received any such amounts yet. However, if there are really such amounts that she is entitled to, Ms. Montero is hereby demanding that they be officially delivered to her, within 72 hours from your receipt hereof.My letter concluded: “ Thank you and best regards. May God continue to lead the way for us all, as we reach within to embrace humanity, so we

can be a gift to the world.” The letter for Mrs. Rivera contained the same wordings, except as to her name and the amounts that she was supposed to have applied for and received. -ooo OMBUDSMAN MUST LOOK INTO PAG-IBIG SCAM LOANS: Maybe, the Office of the Ombudsman will have to lo ok into these supposed payments of “membership maturity” benefits at HDMF. Surely, if the benefits were not really applied for, and were not duly received by the government employees in whose names they were released, this is graft and corruption of the highest order. Indeed, somebody must have received the money for themselves! An investigation will have to be launched to determine the extent of these anomalous benefits payments---what is the number of employees who were supposedly given the benefits even if they did not apply for such benefits, how much government money were released to ghost recipients. I am afraid this could involve billions of taxpayers’ money which may have gone down the drain or, more appropriately,

K akampi

Mo A ng Batas

Atty. Batas Mauricio inside the pockets of thieving officials. It is imperative that this should be looked into, to find out the perpetrators of this scam which could very well consist of plunder, so as to prosecute and then penalize them appropriately. -ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way), a Bible study and prayer session on radio, airs Mondays to Fridays, 6 p.m. to 6:30 p.m., at DWAD 1098 kHz on the AM band. For replays, go to www.facebook. com/angtangingdaan or www. and scroll for “Ang Tanging Daan” broadcasts. Phone: 0922 833 43 96, 0918 574 0193, 0917 984 24 68. Email: batasmauricio@ -30-


Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

wednesday|august 5, 2015


BusinessWeek MINDANAO


2013 ppi’S Best in Business and Economic Reporting


2014 ppi’S Best in ENVIRONMENTAL Reporting

wednesday|august 5, 2015


Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776 Editor: Cheng Ordoñez

As part of global food security

UK gov’t supports resilient, sustainable agriculture in PH


ood security is one of the greatest global challenges people currently face. In a bid to address this, a new collaboration between the United Kingdom and four countries in Asia, including the Philippines, will support research projects to boost the resilience and sustainability of rice production in the region. Britons are as fond of rice as Filipinos. The British Embassy in Manila is calling for proposals on collaborative interdisciplinary research that will underpin the long-term sustainable production of rice, utilizing the combined strengths of academic research groups within China, the Philippines, Thailand, Vietnam

and the UK. This initiative is supported by the UK Government’s Newton Fund which helps build science and innovation partnerships with key emerging economies. British Ambassador Asif Ahmad said, “In a country where rice is a main part of almost every meal, enhancing rice production is a major priority. The headlines report that El Niño may be the most intense the country has experienced in recent years. Studies have shown that climate change will have a devastating effect of food security if it is not addressed now. Unli rice may no longer be a promo offer. This project will help farmer productivity and enhance trading in

rice, when necessary. We encourage all researchers who are working towards the adequate supply of this staple food to submit their applications to the Newton Fund.” The UK Biotechnology and Biological Sciences Research Council (UK BBSRC) and the UK Natural Environment Research Council, in collaboration with Philippine Partners Department of Science and Technology Philippine Council for Agriculture Aquatic and Natural Resources Research & Development (DOST-PCAARD) and the Department of Agriculture Philippine Rice Research Institute (DA-PhilRice) are calling for submissions of research proposals to address the following challenges

in the Philippine context: greater resilience to biotic and abiotic stresses; improved resource use efficiency (including Nitrogen, Phosphorus, Water); improved quality of rice (including nutritional enhancement and grain quality); utilization of rice by-products; novel research tool and technology development supporting the above areas (including systems biology, bioinformatics, screening and characterization of germplasm for gene and trait discovery). These priority areas in sustainable rice research have been agreed though a regional workshop in Bangkok, Thailand last April, which brought together relevant funding agencies, key

re s e arch org an i s at i ons an d leading academics from China, the Philippines, Thailand, Vietnam and the UK. Proposed projects should be up to a maximum duration of 3 years and will require a UK Principal Investigator as well as a Philippine Principal Investigator with the options of additional Principal Investigators from other partner countries. The deadline for submission of applications is on 13 August 2015. For more information on this opportunity, please visit the UK BBSRC website: http://www.bbsrc. newton-fund-joint-call-in-riceresearch/

advisor: Politicians can help Japan heatwave kills 25, hospitalizes UN address rising carbon emissions nearly 11,700 within 1 week By Joann Santiago

TOKYO -- Nearly 11,700 have been hospitalized and 25 died from heatstroke due to a major heatwave over the past week, officials reported Tuesday. The Fire and Disaster Management Agency listed the numbers, citing a total of 11,672 hospitalizations

nationwide, during the July 27-August 2 period. Tokyo was among the most affected with 1,095 hospitalizations, followed by 989 in Aichi Prefecture, 805 in Saitama and 801 in Osaka. Temperatures reached 102 degrees Fahrenheit in some

prefectures at the peak of the heatwave over the weekend. Meteorologists expect temp eratures b elow 99 degrees in major Japanese cities on Tuesday. To battle the longstanding heat, they urge citizens to use air conditioning, avoid going outside and drink

enough water. A l most 40 Jap ane s e nationals died from h e at s t roke s i n c e Ju n e, while some 25,000 have been admitted to hospitals, according to the agency which also oversees emergency services. (PNA/ Sputnik)

Carbon tax can drive climate financing By Catherine J. Teves

MANILA -- An international expert sees need for global implementation of tax on carbon emissions to help generate funds for addressing climate change, the new normal fueled by rising discharge of greenhouse gases like carbon dioxide (CO2). “Carbon tax will easily raise per year USD100 billion that can be allocated for helping countries transition to low-carbon systems,” The Earth Institute Director Dr. Jeffrey Sachs said Monday during a meeting at the

Asian Development Bank headquarters in Metro Manila,responding to a query on availability of UN’s Green Climate Fund (GCF) for climate change adaptation and mitigation. He noted carbon rates may vary among countries but pricing the estimated global 30 billion tons of carbon at around US$ 3.00 per ton will already generate such amount. GCF is an operating entity of the UN Framework Convention on Climate Change (UNFCCC) financial

mechanism. Such entity is intended to be the main fund for global climate change finance in the context of mobilizing US$ 100 billion by 2020, said UNFCCC. According to WB, 15 national and sub-national jurisdictions are either implementing or already passed legislation for direct carbon tax. WB said such are Canada’s British Columbia, Chile, Costa Rica, Denmark, Finland, France, Iceland, Ireland, Japan, Mexico, Norway, South Africa, Sweden, Switzerland and United Kingdom. carbon/PAGE 11

MANILA -- Global growth remains in a delicate situation but still economies around the globe continue to grow, thus, the need to protect it from global warming among others. Wo r l d - r e n o w n e d economics professor and senior advisor of the United Nations (UN) Jeffrey D. Sachs, who has repeatedly campaigned for a cut in carbon emissions globally, said politicians can make a big difference to help address the increasing carbon emissions that are now at dangerously high level. In his speech during the roundtable discussion on green development at the Asian Development Bank (ADB) Tuesday, Sachs said the world does not have the capacity to sustain its growth if temperature continue to post an annual increase of about three to four degree

Celsius. ”If based on existing growth, we’re going to have a disaster. Major parts of the world would be uninhabitable,” he said. Thus, the director of Earth Institute and of the UN Sustainable Development Network pitch-in anew his bid for deep decarbonization. He cited the need to implement various modes of limiting carbon emissions such as improvement in energy efficiency programs, decarbonization of electricity and use of electric vehicles. Decarbonization is feasible in terms of technology and economy, he said pointing out that although this is costly it is worth the effort. Aside from technological requirements, the economist said other major factors that would ensure the decline in carbon emissions are emissions/PAGE 11

Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776 Editor: Nelson Constantino


wednesday|august 5, 2015


Starmalls opening 8 malls through 2016 T HE Villar Group is s p e n d i n g a rou n d P30.5 billion to expand its shopping malls and retail businesses in the next three years. “We haven’t discussed the details yet but we’re really preparing for an offering for Starmalls next year to fund our expansion. So we will be raising some cash,” Starmalls Inc. chairman Ma nu e l B. Vi l l a r t o l d

reporters. Villar said they will open three new Starmall branches in Taguig, Bataan and Sta. Rosa this year, and another five in 2016 to be located in the Visayas region, particularly in Cebu and Iloilo City. Each mall costs P1.5 billion to P2 billion, he said. Villar said the company aims to establish five new

Megawide Group’s solar power joint venture unlikely to meet feed-in-tariff deadline CITICORE Solar Philippines Power Project Holdings said its 60-megawatt (MW) Calatagan project is on track, while it’s 100-MW Central Luzon project will finish construction much later than planned. The company was created on May through a jointventure agreement between Solar Philippines and Citicore Power, a sister company of listed Megawide Construction Corp. “Calatagan has already started construction and will be finished by December... Second project will be in Central Luzon and will be finished by the first quarter

of 2016. Those combined will be the largest portfolio of projects in Luzon,” Solar Philippines president Leandro Leviste told PNA. Leviste said in June both the Calatagan project and the almost 100-MW Central Luzon project will be completed by December this year. Both projects will be the largest in Luzon, costing US$2 million per MW. Leviste said the banks have been supportive and have been funding at least 70 percent of the projects. Citicore Power has been handling the financing of solar/PAGE 11

malls every year until 2017. H e s a i d S t a r m a l l s’ expansion complements the group’s new retail businesses, which now include All Home construction supply and home furnishings store, All Day convenience stores, as well as a new supermarket chain. ”All my companies are in the expansion mode. So even our All Day, even our Golden Haven memorial

park, we expected increases last year, this year and next year. (These are in preparation) for public listings in the next few years,” he added. Villar, also the chairman of retail holding company All Value Holdings Corp., s ai d t h e f i r m w i l l put up three more AllHome appliance and furnishing stores in 2015 and another 12 next year. It recently

opened its ninth AllHome store in Las Piñas. He said the initial batch of the 12 one-stop shops for home furnishings to be established in 2016 are located in Cebu City, Iloilo City, Cagayan de Oro City and Davao City. The f irm will spend around P300 million to build one larger-format AllHome appliance and furnishing store which will

have 8,000 to 20,000 square meters, he added. Despite its aggressive e x p a n s i on , Vi l l a r s t i l l expects to list the homeretailing arm that operates the AllHome stores possibly by 2017. ”It’s too early. There are still (a lot of) opportunities, its growth trajector y is high… Next year, Starmall, then AllHome a year after next,” he said.

Rental revenue leads growth in SM Prime’s first-half profit DOUBLE-digit growth in rental revenue drove up profitability at SM Prime Holdings Inc. In a statement, the Henry Sy-owned property developer said it earned P18.7 billion in the first six months of the year. This is 90 percent more than the P9.8 billion in the same period last year. E xc lu d i ng on e - t i m e trading gains from the sale of marketable securities, recurring income rose 15 percent year-on-year to P11.2 billion. Consolidated revenue rose by 8 percent to P35.9 billion this year from P33.3 billion in 2014. Rental revenue – from both its shopping malls

and office space businesses – climbed 10 percent yearon-year to P19.4 billion, comprising 54 percent of total revenue. The growth in rental revenue stemmed from new malls and the expansion of e x ist i ng one s s i nc e 2013. These include SM Aura Premier, SM City BF Parañaque, Mega Fashion Hall in SM Megamall, SM City Cauayan, SM Center Angono and the expansion of SM City Bacolod. SM Prime’s office lease business also contributed to revenue growth, as the comp any launche d SM Cyberwest in Quezon City and FiveE-com Center at the

Mall of Asia complex. Excluding new mall and office space, same-store rental rose 7 percent year-on-year. “The strong financial performance posted by SM Prime in the first half of the year is reflective of the benefits derived from a d ive r s i f i e d prop e r t y portfolio as both rental and developmental incomes contributed to the overall performance of the company,” SM Prime president Hans T. Sy said. “The sustained growth could be attributed to the consolidation of SM Prime, which resulted to a strong balance sheet that allowed us to pursue all projects as

planned. We are confident that we can sustain this growth in the long-term,” he said. Real estate sales contributed 34 percent of consolidated revenue and grew 3 percent to P12.3 billion this year from P11.9 billion in 2014. SM Prime attributed the growth to the increase in the sales take-up and higher construction accomplishment of projects launched in 2010 to 2013, namely Wind Residences in Tagaytay, Green Residences in Manila, Breeze Residences in Manila, Grace Residences in Taguig, Shore Residences in Pasay, and Trees Residences in Quezon City.


Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

wednesday|august 5, 2015

Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776 Editor: Shaun Alejandrae Yap Uy


BusinessWeek MINDANAO

2013 ppi’S Best in Business and Economic Reporting



2014 ppi’S Best in ENVIRONMENTAL Reporting

wednesday|august 5, 2015

Cebu ready for Cinema Rehiyon 7 A total of seventeen full length films are set to grace Cebu cinemas from August 6-9, 2015 as part of the CinemaRehiyon 7, the flagship project of the National Commission for Culture and the Arts’ (NCCA) National Committee on Cinema (NCC) headed by Director William Mayo. CinemaRehiyon 7 adopts the theme “At the Crossroads of the Seventh Art and showcases the best regional films from across the archipelago. Set in Cebu, CR7 would be highlighting the unique characteristics of Cebuano films. “Cebu has a unique situation. A local industry sprung from the province around 1932 to 1975. Also, there is a resurgence of a new breed of Cebuano filmmakers,” shares NCC Vice-Head Teddy Co. Cebuano actors from the 70’s and the 80’s including the Queen of Visayan Movies Gloria Sevilla, Pilar Pilapil, Suzette Ranillo, Julian Daan and Undo Juizan, the first ever Cebuano FAMAS Best Child Actor Awardee for the film “Salingsing sa Kasakit”, are expected to attend the festival as homage to Cebuano film culture. True to its aim to highlight Cebuano local films, CR7 opens the festival with a classic Cebuano film by Leroy Salvador. First screened in 1968, Badlis sa Kinabuhi starred Sevilla and Mat Ranillo Jr. To highlight Filipino resiliency, a set of regional films are dedicated to the aftermath of Typhoon Yolanda. These films are T.M. Malones’ Dapya Sang Paglaum, Charena Escala and Rowena Sanches’ documentary Nick and Chai, and Thomas Fitzgerald’s Tigdao. Films taking on various indigenous traditions are also included in the CR7 line up. Among them are Ida del Mundo’s K’na The Dreamweaver which features the intricacies and the Magic of the T’Boli weavers and their traditions, Nef Luczon’s documentary on the Panay Bukidnon community entitled Father said, “Let’s Return Home”, Lester del Valle’s Walang Rape sa Bontok, Adjani Arumpac’s War is A tender Thing and Ivy Universe Baldosa’s Marciano. One entry under this category, the Cordilleran

tradition featured in Boyong and Sendong’s Busol: The Last Headhunters, is a perfect example of native indigenous film, produced by and for the Cordilleran community. Other films included in the line-up for CR7 are Remton Zuasola’s Soap Opera, which serves as the festival’s preopening film, John Paul Laxamana’s Magkakabaung, Lemuel Lorca’s Mauban: Ang Resiko, and Alec Figuracion’s Bitukang Manok, a product of an all Cebuano crew from the province’s IAFT film school. Bagane Fiola’s Sonata Maria and Charliebeb Gohetia’s Chasing the Waves are the Mindanao full length films that will be screened during the festival. Cagayan de Oro’s Ang Lihim ni Natividad by Jasmine Limas, Nangisit Nga Darag by Rommel Ruiz and Bagabag by Adrian Rey Manapil are also included in the Mindanao short films line up. Kidlat Tahimik’s Balikabayan #1: memories of Overdevelopment Redux III closes the fest. The film follows Enrique, a Visayan slave to Magellan and is said to be Tahimik’s tribute to the pre-Hispanic Cebuano who possibly is the first man to Cagayan de Oro - Northern Mindanao Films programmed in the 7th installment of circumnavigate the world. Cinema Rehiyon from filmmakers Nef Luczon, Jasmine Limas, Joe Bacus and Adrian Aside from the full length Manapil respectively. line-up, there will also be screenings of contemporary Cebuano short films at the mini theater of Film and Media International Arts Academy (FMA), outreach screenings in select venues, outdoor screenings as well as a special viewing of National Artist Lamberto Avellana’s rarely seen creations. This year’s CR7 festival also offers unique opportunities to hear indepth discussions about: Reimagining Regional Cinema, The Regional as the Other in Cinema, Getting the World to See yout Film and Film as Heritage. These topics will be discussed by some of the country’s top industry stakeholders.


Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

wednesday|august 5, 2015

BusinessWeek MINDANAO

Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

2013 ppi’S Best in Business and Economic Reporting


wednesday|august 5, 2015

BBL... from page 1

of legislation is passed,” he said. Rep. Romeo Acop (Antipolo), on the other hand, said that the BBL is the “best option” of the two options left for the Bangsamoro and Mindanao. “Since there is no other proposed alternative, we are then left with two options: that of maintaining the status quo [in the ARMM] where problems have pervaded for decades or the hope that is embodied in the BBL,” the retired police general and graduate of the Philippine Military Academy said. Acop, also a vice chairman of the Adhoc Committee on the BBL said that he strongly believes that the BBL “has the best chance of securing peace for Mindanao and hopefully finally ending decades of armed conflict.” He noted that the armed conflict in Mindanao waged by the Bangsamoro has already cost the Philippine e c on omy a l m o s t P h P 1 trillion. “Certainly, the members of Congress would be open to any suggestion that we would find to be a more sensible solution to the conflict in Mindanao other than the BBL. But we have seen that this legislation is the product of more than 17 years of negotiations to end an armed conflict. If the critics have any other option that would be better than the BBL, then this is the time for them to give it,” he said. The BBL, which is the product of 17 years of negotiations between the government and the Moro Islamic Liberation Front (MILF), envision to create the Bangsamoro to replace the ARMM which Aquino has labelled “a failure.” For his par t, Adhoc

Committee chairman Rep. Ru f u s R o d r i g u e z ( 2 n d District, Cagayan de Oro City) said that that “prospects for the passage of the Basic Law remain very good.” Rodriguez, who is on his last term as congressman, assured everyone that they are ready to resume work on the BBL.” “We are set to continue with the plenary deliberations, which we already started last May.” In the Senate, senators are waiting for Sen. Ferdinand “Bongbong” Marcos Jr.’s committee report so that it can be deliberated in the plenary. Reports quoted Marcos as saying that he needs two or three more days to finish working on the BBL. A report on Monday quoted Senate President Franklin Drilon as saying that during a caucus among senators, it was agreed that the “BBL report will be filed on August 10, sponsored on August 11, and to give the senators time to study carefully all the proposals, the interpellation will start on August 17.”

Carbon... from page 6

Earlier, experts reported the previously projected 2°C rise in global temperature might even reach 4°C by 2060, jeopardizing socio-economic development worldwide. They noted shifting to low-carbon systems will help reduce carbon emissions fueling temperature increase. “I recommend that every countr y make plans for deepdecarbonization,” said Dr. Sachs. Te ch nol o g y t rans fe r and development are vital in pursuing such plans, he noted. Safe nuclear energ y,

electric vehicles and smart cityinfrastructure are among low-carbon initiatives open to larger private financing and funds for technology acceleration, he said further. Studies indicate both power and industry sectors are the main sources of global CO2 emissions at present. Experts earlier noted implementing carbon tax will make using dirty fuel more expensive, leading the public to increasingly reduce consumption of this energy source and seek more energy efficient alternatives. Carbon tax will help make alternative energy more costcompetitive than pollutive fuel like coal, they pointed out “Coal must be phased out,” Dr. Sachs added. (PNA)

Emissions... from page 6

policies and participation of lawmakers and governments. He said each country needs specific regulations based on its own situation, thus, government support is needed. He s aid d is c uss ions of this topic in advanced economies like the US have opened in a new way making him optimistic that other countries would follow through. ”When we have goals globally like (the commitment for a) two degree Celsius (temperature limit) we need to take them seriously. We

need to understand what we mean. We need to make understand,” he said citing the need to do more studies to further educate lawmakers. ”We have to do something because this will ruin us,” he added. (PNA)

from page 7

the projects. Leviste said the projects might not meet the feed-intariff (FIT) deadline on March 16 that will guarantee a P8.69

per kilowatthour (kWh) rate. Leviste said the Renewable Portfolio Standards (RPS), which require distribution utilities to contract a certain portion of RE capacity, will also make solar more competitive.

Tacurong City CENRO intensifies implementation of Anti-Chainsaw Act By Edwin O. Fernandez

TACURONG CITY -- The Tacurong City Community Environment and Natural Resources (CENRO) is intensifying regulations of chainsaw operators in the city as a form of combating illegal cutting of trees. CENRO Jerry Dalauta has appealed to all chainsaw operators in the city to register their respective units to avoid confiscation and possible charges. Dalauta cited Presidential Decree 9175 or the Anti-Chainsaw Act of 2002. Under the law, anyone found to be owning and in possession of a chainsaw that is not registered with the local DENR of f ice w i l l b e charged and penalized. Dalauta admitted he has been receiving death threats from illegal loggers operating in the remote villages of the city by



ELENA B. SUMILI, Petitioner. x---------------------------/ ORDER Before this court is a verified petition for judicial settlement of estate of Herminigildo Sumili filed by Elena Sumili. The petition alleges that petitioner is the daughter of Herminigildo Sumili who died intestate on 13 March 1995 in Bacolod, Lanao del Norte; that said Herminigildo Sumili left a real estate located at Poblacion, Bacolod, Lanao del Norte, covered by Tax Declaration No. 01-01529; that said Herminigildo Sumili has the following heirs: Honorata Sumili, Mauro B. Sumili, Faustino Sumili, Wynnie Balucan and Wynliel Carl Aoay; and that said Herminigildo Sumili left no debts. The petitioner prays that the above-mentioned estate be apportioned, divided and awarded to the lawful heirs. Finding the petition to be sufficient in form and substance, set the hearing of this case on 10 July 2015 at 8:30 A.M., during which all persons opposed to the petition may file their opposition on or before the said date to show cause, if any, why the petition should not be granted. Let a copy of this order be published at the expense of the petitioner once a week for three (3) consecutive weeks in a newspaper of general circulation in the Municipality of Bacolod and the Province of Lanao del Norte. Let a copy of this order be furnished the petitioner and her counsel, as well as the other heirs of Herminigildo Sumili mentioned in the petition.


06 March 2015, Bacolod, Lanao del Norte.



2014 ppi’S Best in ENVIRONMENTAL Reporting


BWM: July 22, 29 & August 5, 2015

cutting natural grown species. He said he is not cowed by the threats because what he was doing was based on an existing law. “I know the people who have been threatening me, they are illegal loggers who cut trees unabated, a complete disregard of the law and of the effects to the environment of their nefarious activities,” he said in a radio interview. Tr e e s c u t i n t h e mou nt ai ns of Su lt an Kudarat province have b e e n t r a n s p or t e d t o the city without legal documents.

Dalauta said his o f f i c e w i l l c o nt i nu e to enforce the law in partnership with other law enforcement agencies of the government. Dalauta lauded the Moro Islamic Liberation Front (MILF) who have been helping the campaign against illegal logging activities in the city and in the province. Aside from preventing illegal cutting of trees, the MILF along with other environmentalists have been conducting tree planting activities in Tacurong City and nearby communities. (PNA)

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10TH Judicial Region Branch 17 Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE FILE NO. 2015-131 Upon extra-judicial petition for sale under Act No. 3135 filed by BPI FAMILY SAVINGS BANK, INC., mortgagee, with office at C.M. Recto Ave., Lapasan, Cagayan de Oro City, against SPS. GRACE DELA TORRE INOLINO & NORBERTO FABIANA INOLINO, mortgagors, residing at Purok 20, Zone 8, Fuentes St., Iligan City, to satisfy the mortgage indebtedness which as of June 9, 2015, amounts TWO HUNDRED FORTY SEVEN THOUSAND NINETY EIGHT PESOS & 09/100 (P247,098.09), excluding penalties, charges, attorney’s fees and expenses of foreclosure , the undersigned or her duly authorized deputy will sell at public auction on August 19, 2015 at 10:00 A.M. or soon thereafter at the Office of the Clerk of Court, Regional Trail Court, Branch 17, Tourism Bldg., City Hall, Cagayan de Oro City to the highest bidder, for cash or manager’s check and in Philippine Currency the following properties with all improvements, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-174525 “ A PARCEL OF LAND (Lot 3 Block 1, Psd-10-024143, being a portion of Lot 19128-B-2, Psd-10-014190) situated in the Barrio of Tablon, City of Cagayan de Oro, Island of Mindanao. Bounded on the SE., along line 1-2 by block 9., x x x . . . Containing an area of One Hundred Fifty (150) square meters, more or less.” TRANSFER CERTIFICATE OF TITLE NO. T-204160 “ A PARCEL OF LAND (Lot 1 Block 3, Psd-10-024143, being a portion of Lot 19128-B-2, Psd-10-014190) situated in the Barrio of Tablon, City of Cagayan de Oro , Island of Mindanao. Bounded on the SW., along line 5-1 by Lot 2., x x x . . . Containing an area of Seventy Five (75) square meters, more or less.” TRANSFER CERTIFICATE OF TITLE NO. T-204160-A “ A PARCEL OF LAND (Lot 3, Block 3, Psd-10-024143, being a portion of Lot 19128-B-2, Psd-10-014190) situated in the Barrio of Tablon, City of Cagayan de Oro, Island of Mindanao. Bounded on the NE., along line 2-3 by Road Lot 2; ( 6.50 m. wide) ., x x x x . . . Containing an area of Seventy Five (75) square meters, more or less.” All sealed bids must be submitted to the undersigned on the above-stated date, time and place. In the event the public auction should not take place on the said date for whatever reason, the public auction will proceed on the next working day, without further notice, posting and publication. Prospective buyers may investigate for themselves the title herein-above described and encumbrances thereon, if any there be.

July 10, 2015, Cagayan de Oro City.

(Sgd) FE O. BOUNTUYAN-BULARON Sheriff IV BWM: July 22, 29 & Aug. 5, 2015


Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

wednesday|august 5, 2015

BusinessWeek Mindanao (August 5, 2015)  

BusinessWeek Mindanao (August 5, 2015)

Read more
Read more
Similar to
Popular now
Just for you