BusinessWeek Mindanao (August 8, 2014)

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Volume V, No. 27

Market Indicators

As of 5:58 pm August 7, 2014 (Thursday)

FOREX

PHISIX

US$1 = P44.08

6,955.21 points

23 cents

X

6.24 cents

X

Briefly Davao’s economy DAVAO City – After over a year super typhoon Pablo brought severe devastation to the provinces of Davao Oriental and Compostela Valley last year, Davao Region has so far recovered well and has managed to improve its economy.

In a recent report of the National Economic and Development Authority and the Philippine Statistics Authority, the region’s economic performance has expanded by 6.8 percent based on its Gross Regional Domestic Product (GRDP) which had a growth forecast of 5.6 percent in 2013.

NEDA-11 regional director Ma. Lourdes D. Lim said the growth was a remarkable achievement for the region.

“The 2013 GRDP estimates are a confirmation that Davao Region is truly resilient and that Dabawenyos have the capacity to recovery quickly from calamities and to rise above difficult challenges,” she stated.

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M’danao solons seek amendment to Epira

T

WO congressmen from Cagayan de Oro City are pushing for changes in the Electric Power Industry Reform Act ( Epi r a ) t h at wou l d enable the government to generate electricity from renewable sources and sell them to consumers.

Cagayan de Oro City Rep. Rufus Rodriguez and younger brother Abante Mindanao partylist Rep. Maximo Rodriguez, said that under House Bill 4422, the government would have the power to purchase electricity through bilateral contracts with generation companies or other suppliers.

They cited a statement of the Association of Mindanao Rural Electric Cooperatives, which attributed the rotating brownouts to “largely the effect of EPIRA.” The EPIRA provides the National Power Corporation m ay ge ne r ate and s el l

Globe Telecom brings social media program to CDO

HEAVY LOAD. A trader tries to lift a container full of fish to a waiting vehicle at the fish landing area in Bulua, Cagayan de Oro City. mindanews photo by erwin mascarinas

electricity only from the undisposed generating assets and Independent Power Producers (IPPs) contracts of PSALM Corp. and shall not incur any new obligations to purchase power through Epira/PAGE 11

Poer collection MARAWI City -- Total collections of the Regional Ports and Management Authority in the Autonomous Region in Muslim Mindanao (ARMM) has reached a record-high of P4.9 million for the first semester of this year, its highest revenue ever for the same period and more than double of last year’s P2.4 million.

Hanie Bud, RPMA general manager, said the increase can be attributed to improved implementation of port dues and the cooperation of port users and other clientele, and reflects their overall management.

“We will likely exceed our target collection for this year by as much as 100 percent based on the present trend,” he said.

P15.00

Friday | August 8, 2014

The Therma South coal-fired power plant will provide 300 megawatts for the area around Davao City.

Showcasing its commitment as the brand for the youth catering to today’s digital lifestyle powered by social media, Globe Telecom, through its Globe Prepaid brand, is celebrating the successful run of its s o c i a l m e d i a p ro g r a m #WonderfulMindaNOW with a culminating activity headlined by its top endorser and Popstar Princess Sarah Geronimo at the Limketkai Mall in Cagayan de Oro on August 8, 2014. #WonderfulMindaNOW is a social media advocacy globe/PAGE 11

5 SUCs in Mindanao receive P44.53M for rehabilitation

By MINDANEWS

CEBU City – Five state universities and colleges in Mindanao have received a total of P44.53 million from the national government for rebuilding facilities damaged by the Zamboanga City standoff last year and other disasters, an official said Thursday.

In a statement, House Assistant Majority Leader Gerald Anthony Gullas Jr. said these are Zamboanga State College of Marine Science and Technology, Zamboanga City State Polytechnic College,

Agusan del Sur State College of Agriculture and Technology, Zamboanga State College of Marine S cience and Technology received the biggest amount at P27.15 million, while the other Zamboanga City-based school got P9.69 million.

Agusan del Sur State College of Agriculture and Technology received P3.18 million, Surigao del Sur State University P3.13. million and Misamis Oriental College of Agriculture and Technology P1.38 million.

Thir ty SUCs in t he Visayas and Luzon also obtained varying amounts for rehabilitation.

E astern Samar State University got the biggest allocation at P217.70 million. Eastern Visayas State University received P125.04 million, Visayas State University P113.80 million) and Bohol Island State University P112.73 million.

Last year, super typhoon Yolanda tore through Eastern Visayas, particularly Leyte and Samar, and a 7.2-magnitude rehab/PAGE 11

Therma South project 88% complete

By IRENE DAYO, Staff Writer

THE coal-fired power plant

by Aboitiz Power subsidiary Therma South has reached 88% completion mark and is on track for commissioning by the second quarter of

next year.

The 300-megawatt power plant being constructed within the boundary of Davao City and Davao del Sur, is expected to provide power

to distribution utilities in electricity starved Mindanao.

In a statement, Benjamin A. Cariaso Jr., Therma South Inc president and chief operating officer, said that more than 20 out project/PAGE 11

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Economy

Body tackles land use plan THE CAGAYAN de Oro City Council committee on subdivision and landed estate last week discussed the City Development Council Resolution approving the Cagayan de Oro City 2022 Comprehensive Land Use Plan (CLUP). This was

endorsed to the City Council for adoption and enactment of a Zoning Ordinance.

The CLUP was prepared pursuant to Section 20 of t he L o c a l G over nment Code of 1991 (Republic Act 7160), which mandates local government units, in

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conformity with existing laws, to continue to prepare their respective CLUPs through Zoning Ordinances, which shall be the primary and dominant basis for the future use of land resources.

The CLUP was prepared by the city government with technical assistance from the Housing and Land Use Regulatory Board (HLURB) and National Economic Development Authority (NEDA). It has been duly updated to mainstream Climate Change Adaptation (CCA) and Disaster Risk Reduction (DRR) factors.

In his message on the project, city Mayor Oscar Moreno said the CLUP outlines the ideals of the city, the issues that need to be acknowledged, and concerns deemed imperative to address. It identifies new areas for development that will throw open the floodgates for further growth and more plan/PAGE 9

DTI Lanao Norte, Iligan projects to increase consumer rights awareness

By ANGELO A. DEVERO

ILIGAN City -- The D e p a r t m e n t o f Tr a d e and Industr y (DTI) has projected to increase the level of awareness of consumers on their rights and responsibilities from 50% to 80% by 2016, in line with the Philippine Development Plan (PDP) 2011–2016.

With this mandate, DTI - Lanao del Norte Provincial Office has launched t he Aw are ne ss - R ai s i ng Campaign for Consumer Empowerment (ARCCE) through the conduct of Consumer Education (Con Ed) Seminar in the barangays and the installation of signages emphasizing the eight consumer rights and the five consumer responsibilities in strategic locations.

ARCCE aims to increase the level of awareness on consumerism especially in rural areas by augmenting

their knowledge and consciousness on the C o n s u m e r Ac t o f t h e Philippines and other fair trade laws, said Ruel B. Paclipan, Provincial Director, DTI Lanao del Norte..

Further, the awareness campaign will increase the volume of consumers to purchase duly licensed products and regularly patronize business establishments which are compliant to government regulations; educate sub st ant i a l nu mb e r of residents in identifying and understanding their rights and responsibilities as consumers; and sensibly provide guidance in handling their own complaints.

In coordination with the City Government of Iligan through the Community Affairs Office, Consumer Education (Con Ed) Seminars

had been conducted in Barangays Ubaldo Laya, Luinab, Upper Hinaplanon, Tibanga, Poblacion and Tubod, this city, last June and July 2014.

DTI also included in the Con ED sessions the Priority Fair Trade Laws such as RA 7581 - the Price Act; RA 71 - the Price Tag Law, and the Standards Law - RA 4109, including Insights on Handling Complaints, Consumer Welfare Desk Operations.

ARCCE as a project of convergence of efforts from public and private institutions, Lafarge Iligan Incorporated-a cement factory, provided promotional collaterals and signage bearing the eight consumer rights and five consumer responsibilities with Cebuano translation.

These framed signages were installed at the Iligan Bus & Jeepney Terminal (IBJT) – dti/PAGE 9

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CorporateWorld

4 Jollibee to expand Asean footprint in next 2 years friday|august 8, 2014

JOLLIBEE Foods Corp (JFC) is expanding its presence in Southeast Asia with plans to enter Malaysia and return to Indonesia in the next two years.

During a forum today organized by the Economic Journalists Association of the Philippines (EJAP) and ING, JFC chief financial officer Ysmael Baysa said the homegrown fast food giant is also looking at franchising its brands to other markets.

JFC owns the brands Jollibee, Chowking, Greenwich, Red Ribbon and Mang Inasal, and holds the Philippine franchise for Burger King.

“The advantage we have is we have been competing in other Asian markets for years so we have some familiarity

with our neighboring countries. We look forward to a faster growth in the future,” Baysa said, noting that the company’s Asean business will still account for a small portion of revenue in the short term.

Owned by billionaire Tony Tan Caktiong, JFC is bringing its flagship Jollibee brand to Malaysia and Indonesia in the absence of a local fast food firm available for acquisition.

“In our case, we cannot find the opportunity to find a local brand in those local markets but if we’re able to find a good one, we will,” Baysa said.

JFC is coming back to Indonesia after troubles as a result of the Asian financial jollibee/PAGE 11

Toyota posts record-braking sales T H E nu m b e r o n e c a r company in the country has once again made history in the automotive industry by recording 10, 123 units in a single month last July.

Coming from a 9,000 performance just last May, Toyota Motor Philippines (TMP) proves once again that it can go even further by breaching the 10,000 sales mark last month.

This is the first time any local car manufacturer experienced such performance in terms of vehicle sales.

Compared to its registered performance last July of 2013, TMP’s sales grew by 65%, representing continuous high demand for all its models.

This robust sales level was again made possible because of the continued

strong performances of its best-selling vehicle in the country, the Vios and the Filipino favourite, the Innova.

With recorded sales last month of 2,480 units and 1, 614 units respectively, these locally-manufactured Toyota models recorded their highest sales since it was first introduced in the Philippine market.

Moreover, last month’s

GAMOT PARA SA KAPWA AT SM

SM invites its shoppers to give a gift of health to less fortunate communities in its Gamot Para sa Kapwa campaign.

A joint project of the SM Store and Wats ons in partnership with the Department of Health, the Department of Social Welfare and Development, and SM Foundation, Gamot Para sa Kapwa aims to provide quality health assistance to indigent communities in the country.

This is especially me aningf ul and timely during the typhoon season, when quick aid is essential during emergency situations such as accidents and natural disasters.

Shoppers do their share by visiting Gamot Para sa Kapwa booth at The SM

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performance was further strengthened by other topselling Toyota models such as the mini hatchback Wigo recording 935 units, the utility van Hiace registering 1,280 units and the SUV Fortuner at 1,350 units.

On a year to date basis, Toyota Motor Philippines registers a substantial growth of 43% versus the first 7 months of last year with accumulated sales of 58, 635 as of July 2014.

“We at Toyota Motor Phi lippines wou ld li ke to extend our sincerest appreciation to our c u s t om e r s f or m a k i n g

Toyota as their preferred choice of vehicle. We are pleased by the continuous support and belief they have shown leading to this sales milestone. Ultimately, this would not be possible without them,” TMP President Mr. Michinobu Sugata said in a statement.

He also added, “Achieving more than 10,000 units in a single month is indeed a leap forward coming from a 9,000 unit sales level last May. We see this feat as another motivation to our Team to constantly find ways in serving our customers and partners even better.”

Philip Morris asks gov’t to adopt tax stamp scheme

Four teams, one vision. DOH Undersecretary Teodoro Herbosa leads the turnover of Sureaid Emergency Kits to Bago Bantay Health Center, the first beneficiaries of SM’s Gamot Para sa Kapwa project. With him are SM and Watsons executives lead

by SM Retail President Jorge Mendiola, SM Store President Cielo Monasterio, Watsons GM Robert Sun, Watsons Sales Director Danilo Chiong together with SM Foundation Executive Director Connie Angeles.

BARANGAY ENTREPRENEURSHIP - A GoNegosyo Advocate since it started, VICE GOVERNOR JOEY G. PELAEZ speaks before the participants of the Negosyo sa Barangay (NSB) Entrepreneurship Development Training at CAP Auditorium Building, Davao City organized recently by the GoNegosyo-Philippine Center for Entrepreneurship, Department of Trade and Industry-Philippine Trade Training Center for Future Leadership. This is part of Vice Governor Pelaez’s advocacy of empowering the barangays thru entrepreneurship. The GoNegosyo Movement was founded by RFM Corp. Chairman and CEO Joey A. Concepcion, a personal friend of Vice Governor Pelaez. The NSB will soon reach Misamis Oriental as Vice Governor Pelaez aims to spread his advocacy to empower Barangays for economic independence. sp communications

THE country’s dominant tobacco company today asked the government to push through with the enforcement of new tax stamps so it can boost revenue.

In a statement, Philip Morris Fortune Tobacco Corp Inc (PMFTC) said it welcomes the g ov e r n m e nt’s s u c c e s s in more than doubling tax collections from tobacco products after the passage of the Sin Tax Reform Law. “However we contend that there are opportunities for billions of p e s o i n a d d it i on a l revenue if evasion practices are stamped out and tax administration tightened. We are hopeful that strict enforcement of the new tax stamps will achieve that end,” PMFTC said.

Philip Morris International said the share of taxed cigarettes in the Philippines has gone down by 13.4 percent in the second quarter because of the proliferation of untaxed tobacco products allegedly made by local m anu f a c tu re r M i g ht y Corp.

“In the Philippines, total estimated taxpaid industr y cigarette volumes decreas ed by 13.4 percent to 20.1 billion units, primarily reflecting a lower declaration of volume for excise tax purposes

by PMI’s principal local c o m p e t i t o r,” P h i l i p Morris chief financial officer Jacek Olczak said.

“ The drop in taxp aid indust r y volume r e f l e c t s t h e f a c t t h at Mi g ht y C or p or at i on’s tax-paid volume was down by around 40 percent. In contrast, we estimate that its total sales volume, both taxpaid and non-tax-paid, increased by about 20 percent,” he added.

PMFTC said it stood by a S e p t e m b e r 2 0 1 3 report done by the International Tax and Investment Center and Oxford Economics that showed an increase in the trade of illicit tobacco or untaxed cigarettes.

This as the nongovernment Southeast Asia Tobacco C ontrol A l l i a n c e ( S E AT C A ) scored the report for using a flawed methodology and coming up with skewed findings that support the tobacco industr y.

“SEATCA knows well that in dozens of countries around the world, there exists meaningful and transparent cooperation between governments and tobacco manufacturers in order to address the illegal cigarette trade,” PMFTC said.

“The legitimate tobacco industr y in the Philippines is responsible for t he liveli ho o ds of m i l l i on s a n d i n 2 0 1 3 contributed 70 billion i n t a x e s . S E AT C A’s stated goal to exclude legal manufacturers in resolving this growing problem is both irrational and s elf-defeating,” it added.

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Banking&Finance

WB cuts PH growth forecast T H E Wo r l d B a n k o n Thursday revised downward its economic growth forecast for the Philippines this year and in 2015, but despite the cut would still make the country Asia’s secondfastest next to China.

In a report, the Washington-based lender said the Philippines’ gross domestic product (GDP) is likely to grow 6.4 percent in 2014, down from its previous forecast of 6.6 p e rc e nt and b el ow t he government’s own target of 6.5-7.5 percent.

Philippine GDP, which is the amount of final goods and services produced in the country, grew by 7.2 percent in 2013.

For 2015, World Bank projects that the Philippine e conomy will grow 6.7 percent, also down from its earlier forecast of 6.9 percent.

“This projected growth

remains one of the fastest in the East Asia region, second only to China among the major economies,” Motoo Konishi, Philippine country director of World Bank said.

The revision reflects the slow start of the economy in the first quarter of 2014 given the effects of Typhoon Yolanda, lower government spending in the second qu ar te r, and mone t ar y policy tightening in the first seven months of the year.

However, recent data trends suggest that higher growth has now begun to translate into significant p ove r t y re du c t i on , t he lender said.

“After many years of slow poverty reduction, poverty incidence declined by 3 percentage points from 27.9 percent in 2012 to 24.9 percent in 2013, lifting 2.5 million Filipinos out of poverty. And in April this

year, the economy created 1.7 million jobs,” Rogier v a n d e n B r i n k , Wor l d Bank lead economist for the Philippines said.

The World Bank Group estimates that the country needs to spend an additional 5 percent of GDP on health and education to raise the l ab or pro duc t iv it y and competitiveness of Filipino workers. This is on top of the government’s planned doubling of infrastructure spending to 5 percent of GDP. “G oing for ward, t he Philippines can sustain high growth by accelerating st r uc tura l refor ms and increasing investments in infrastructure and in the health and education of the Filipino people,” said Karl Kendrick Chua, World Bank senior country economist for the Philippines.

In the last four years, the government has doubled

spending on social services and has provided more money for developing the country’s infrastructure.

Sustaining these efforts will close the remaining gaps brought about by decades of lagging public investment: “The government has su c c e ss f u l ly r ais e d t a x revenue equivalent to 1.2 percent of GDP in the last three years through the sin tax reform, improved tax administration, and higher growth. Accelerating the current reform momentum would help the country yield additional tax revenues to further expand growth that can benefit more poor Filipinos,” said Chua.

In addition, accelerating k e y re f or m s t o s e c u re access to land, promote competition, and simplify business regulations will also help create more and better jobs and bring more people out of poverty.

PH launches first debt swap since earning investment grade THE Philippines has launched an offer to buy back at least P60 billion worth of outstanding bonds, in exchange for new 10year debt papers that the government will issue later this month.

In a statement yesterday, the Bureau of Treasury said it has launched the debt swap covering 56 series of bonds it issued as far back as 1997 all the way to early this year, and maturing between next month and 2024. The exchangeable debt amounts to a combined P2.016 trillion, and pay coupon rates ranging from 1.625 to 15 percent.

In exchange for surrendering the old debt papers, bondholders will get new bonds that would carry a coupon rate of at least 4 percent and would mature in 2024. The new bonds will also be made available on cash basis to new investors.

The offer to exchange any of the qualified existing

BusinessWeek MINDANAO

debt papers with the new benchmark bonds, as well as the sale of the same to new investors, will close on August 15. The coupon rate for the new bonds will be set no later than August 19.

T h i s i s t h e Aqu i n o a d m i n i s t r at i o n’s t h i r d domestic bond swap, and its first since earning a credit rating upgrade to investment status. The swap also could be its biggest to date after a similar exercise in 2011 when the government offered to buy back as much as P1.6 trillion worth of outstanding debt and replace them with up to P200 billion in 10.5- and 20-year benchmark bonds.

For this month’s debt exchange, the government is willing to buy back at least P60 billion in outstanding liabilities, higher than the P50-billion minimum it offered three years ago.

“The transaction is part of the Republic’s ongoing commitment to proactively

manage the government’s debt portfolio,” said National Treasurer Rosalia de Leon.

“This will also provide an opportunity for existing [government securities] investors to exchange their illiquid bonds and receive benchmark bonds which will trade more efficiently in the market,” de Leon said.

The Treasury appointed HSBC and Land Bank of the Philippines as joint global coordinators. BDO Capital and Investment Corp, BPI Capital Corp, Development Bank of the Philippines and First Metro Investment Corp will serve as joint deal managers for the transaction.

E a r l i e r, S t a n d a r d Chartered Bank said the Philippines would likely undertake a debt swap coupled with a retail bond sale to catch up on its 2014 borrowing program, as the government is way behind by as much as P60 billion.

In light of the

government’s new liability management exercise, the Treasury cancelled an auction scheduled on August 19 during which it was supposed to sell 10-year bonds.

The latest bond swap is part of the government’s debt liability management program, which is meant to reduce the countr y’s vulnerability to foreign exchange and interest rate risks, as well as to lengthen the maturity of its obligations.

At end-2013, the general government debt eased to below 40 percent of the Philippines’ gross domestic product (GDP), which is the amount of final goods and services produced in the country and as such measures economic performance (see chart below).

The general government debt ratio is one of the key indicators of fiscal health used by international credit rating firms, and its steady earning/PAGE 9

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OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

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

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

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

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

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

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

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

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

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

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

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

METRO BANK- GAISANO 8561720

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

CM Recto Ave. Lapasan, Cdoc, 8563991/727731

BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 PLANTERS DEVELOPMENT BANK

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

PNB- LKK MALL NORTH CONCOURSE

LKK Mall N.Concourse Cdoc 8574149/8575682

PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.

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

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

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

ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999 METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415

UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO

Capistrano Corner CruzTaal St. CDO 8524099/722695

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

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Switching Price Tags?

T

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

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

Have you e ve r gone t h rou g h a p ai n f u l l o ss or frightening crisis that turned everything in your life upside down? Maybe the doctor told you that you have a serious, lifethreatening illness. Someone you love died in an accident.

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

S a d ly, t h e s e p ai n f u l losses and problems in life are sometimes the only things that wake us up to

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

THINK

A Minute

By Jhan Tiafau Hurst

A

Bill to Penalize Stores That Will Not Give Exact Change to Costumers

lawmaker has filed a bill, imposing a penalty against erring business establishments that fail to give the exact amount of change to customers. This unscrupulous practice has been existing for so long already. It is time to penalized the perpetrators.

G ov e r n m e nt s h o u l d protect consumers from such deceptive, unfair and unconscionable act and practices in our markets today.

The proposed measure seeks to stop the practice of many business establishments like supermarkets of giving candies instead of paying the exact amount of change to customers. It will amend Republic Act 7394, otherwise known as the “Consumer Act of the Philippines,”

editorial particularly the provision on unfair or unconscionable sales provision.

RA 7394 is a government regulation that is aimed at protecting consumers’ rights and welfare. It has been in existence for 22 years with some minor amendments. In order to be responsive to the prevailing times, this measure intends to add another provision in Article 52 to further protect consumers,” according to the proponents..

According to its proponent, Article 52 of RA 7394 provides that an unfair or unreasonable sales act or practice by a seller or

supplier in connection with a consumer transaction violates Chapter I - Deceptive, Unfair and Unconscionable Sales Acts or Practices, whether it occurs before, during or after the consumer transaction.

An act or practice shall b e d e e me d u n f ai r and unconscionable whenever the producer, manufacturer, distributor, supplier or seller, by taking advantage of t he env ironment or surroundings, induces the consumer or gross one-side in favor of the producer, manufacturer, distributor, supplier or seller.

Article 48 of RA 7394,

which provides that the State shall promote and encourage fair, honest and equitable relations among parties in consumer transactions and protect the consumer against deceptive, unfair and unconscionable sales acts or practices. must be amended by providing additional circumstance which will include: “… the consumer transaction was denied because of an alleged shortage of coins or change on the part of the seller, or that the consumer was shortchanged by the giving of candies or other items in lieu of money as change, or when due to lack of time, the consumer enters into the transaction even if it means waiving the change due.”

Well and good!

New Generation of Violent Filipinos

L

IFE’S INSPIRATIONS: “… Train the child in the way that he should go, and he will never depart from it even when he grows old…”

(Proverbs 22:6, the Holy Bible).

-ooo A NEW GENERATION O F F I L I P I N O S F R OM VIOLENT CHILDREN: If you are someone like me who travels to the different parts of our country on a regular basis, you will not fail to see the degenerative downtrend of many Filipino children, even those who are still very, very young to know what is really right and what is wrong.

Filipino children nowadays appear to have imbibed very violent attitudes, and have become disrespectful not only of their parents and of their elders but of any authority, whether from the family, from society, or from the government. This is scary,

because a generation of new Filipinos are coming out from these children.

What to do? I wish to reiterate some articles I wrote earlier. Read on: “… It is by training the Filipino child in the way that he should go while he is still young, and he will never depart from it when he grows old.

-ooo TRAINING OUR CHILDREN TO BE GODLY: Therefore, (we) should aspire to give this kind of a training to our children. They should understand that we have been told that we should raise our children in the training and instruction of the Lord, and the way to do this is to teach them to love and respect and have fear of God in their hearts. This is the only training that our kids will ever need against any cartel. Sadly though, it is not being given them.

If our children are trained

to love and respect and fear God in their hearts, they will have good manners and right conduct all the time. They will uphold their bodies as temples of God and will not do, or take anything, that will destroy these temples.

Children raised in the training and instruction of God will have good morals and righteous mindset all the time, and this will prevent them from indulging in vices like drugs.

-ooo FORMULA FOR EVERYDAY SUCCESS: One other formula for success that all of us should endeavor to comply with, one that would guarantee success and prosperity, is this: do not forget to read the Book of the Law, meditate on it day and night, and be careful to obey everything that is written in it, for if we do all these, we are assured of becoming successful and prosperous.

K ak ampi

Mo A ng Batas

By Atty. Batas Mauricio

This particular rule is restated in many other ways in the old book where it is taken from. One re-statement says: if you listen to, and obey, the commands in the Book of the Law, you will be exalted among all the nations, and all blessings will come upon you and overtake you.

Another form in which this rule is expressed is this: my son, do not forget my teaching, etch them in your batas/PAGE 9

Coping with Misery see what’s truly important in life. Unfortunately for many of us, it’s only when the problem and storm hits that we begin to understand there are only 2 things that really matter : our Maker and people. Life is short. Often shorter than we expect! And hopefully before it’s over we learn how valuable every day is. Each day is just one more gift from God. So we need to start spending what little time we have left on getting close to Him and the people He’s given to us to share our lives with. That is the only way we can have no fears or regrets when we die. Some of us are scared and don’t want to think of dying because we’re not sure if we’re ready to face our Maker and Judge.

Think a Minute…

O

ur human condition cannot avoid misery in one form or another. A quick look around would reveal cases upon cases of human misery blighting our world today. Poverty, hunger, ignorance, illness, injustice abound, their stench practically filling the air.

Beggars proliferate in the streets. Homeless families, with little children all dirty and practically naked, stay and sleep on sidewalks or under bridges and flyovers.

Many moneyless sick and those with disabilities waste away in some public hospitals or in some corners.

There still are other forms of human misery that may not be immediately perceptible because they are more subtle and more complex. They hide behind the masks of wealth, fame, power, exuding an air of sophistication and adept

in the ways of pretense and deceit, but they are there nonetheless, and in fact, are more disturbing, more dangerous, more pitiable.

In the face of all these, we need to learn what to think and do about them.

We should not be casual and cavalier about them. We simply cannot depend on our spontaneous impulses, since these can take only the external aspects and miss the real issues, and can lead us to depression, to get scandalized and fall into self-pity, frozen into inaction.

This is where we have to have recourse to our core beliefs. If we do not have faith, then we would just be at the mercy of our instincts and impulses, our estimations of things, both personal and collective, of some social trends and political consensus, etc.

These, at best, can give us only a tentative, partial view and some passing relief, but they can never totally cope with human misery.

Our Christian faith offers us a global picture of this phenomenon, explaining to us its origin and causes, its forms and ways, its remedies, both temporal and eternal, both immediate and ultimate.

We need to enliven this faith in this regard, so that even as we go through the unavoidable experience of human misery, we can still find meaning and hope in them, we can still afford to find peace and joy through them. In fact, we can still derive not only some good, but rather our true, ultimate good - our salvation.

That is why we need to know very closely the doctrine of our faith regarding evil and sin, the misuse of our

HINTS

and

Traces

By Fr. Roy Cimagala

freedom, our disloyalty to God, etc., to have a good idea of the causes of human misery. These indeed are the root causes of human misery.

Such knowledge would somehow calm down our worries about why human misery exists. It would lead us to focus our attention more on what to do with it. We avoid wasting time, simply cimagala/PAGE 9

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friday|august 8, 2014

7

Parasat hosts Discovery Kids Science Fair W

By MIKE BAÑOS

hiz kids aged 6-14 get a chance to display their scientific chops in a science fair on Saturday, 06 September 2014 at SM Cagayan de Oro. Dubbed “Discovery Kids Science Fair”, the pioneering project is the brainchild of siblings Rina Victorio and Geli Paras, daughters of Cagayan de Oro’s local version of Leonardo da Vinci, Engr.

Elpidio Magbag Paras.

“We observed that young school children hardly get any real exposure to science projects while they are in grade school,” noted Rina, President and General Manager

of Parasat Cable TV Inc. who has two children Tia, 8 and Lala, 2. “So Geli and I thought of sponsoring this science fair for children aged 6-12 years.”

"Our educational system has forgotten the basics like rousing children’s interest in science and creative ability. Ïn the United States, grade school students are asked to submit investigate projects and compete in school science fairs. At an early age, students are exposed to field trips to various museums and science venues” Engr.

Paras noted.

An example is Nicolo P. Ong, Paras' grandson aged 10, who recently got

Elpie's grandson Cole finished a 500+ pice Gundam Zaku 2 robot in a flat 7 yrs....making gramps and grandma proud.

a commendation from Rep. Richard Corcoran of the State of Florida, for topping the statewide Comprehensive Assessment Test in Mathematics .Thus, the competition also encourages parents to have their kids watch the Discovery Kids, Channel 56 on Parasat’s Silver subscription package.

“Just shoot a video of your child demonstrating his/her most creative experiment and upload the video to dksciencefair@ gmail.com,” said Geli.

“That’s how simple it is to join.”

Discover Kids (Asia) has programs such as “Did You Know?”, “Science Trivia” and “Adventures for Kids” which encourages grade school children to have an interactive experience with science and its related fields.

To encourage participation in the Science Fair, Parasat has fielded teams for up to 30 public and private schools in the city as of the last count to encourage students to join.

The top 15 entries will get to showcase their ideas in an exclusive exhibit at SM Mall on September 6, 2014.

The competition, which is held in cooperation with Discovery Kids channel, is open to kids ages 6-12 yrs old and a certified student of any private or public school in Cagayan de Oro.

To qualify for the fair, the participant/participant’s guardians/parents should “Like” the Parasat Cable TV page in Facebook Interested participants should send a demo video of their experiments/projects/ideas to dksciencefair@gmail.com.

Plus points for participants who use recycled, eco-friendly and/or indigenous materials. Criteria for Judging include Originality (40%), Creativity and Presentation (30%) and Social Relevance (30%).

Deadline for submission of entries is August 25, 2014. The top 15 candidates will be announced on August 25, through Parasat’s Community Billboard Channel 24, Parasat’s Facebook Account and Official website at https://www. parasat.tv Participants must be able to showcase and defend their projects on Exhibition Day on Saturday, September 6, 2014 in SM CDO from 10AM to 4PM. Awarding of the grand prize winner will be on the same day, same venue, September 6, 2014 at 5PM. The Grand Prize winner will receive a 1-year subscription of Parasat Cable HD Premium, exclusive items from Discovery Kids, and a cash prize of P5, 000.00 The 14 other finalists will receive exclu-

sive items from Discovery Kids.

Discovery Kids is an Asian satellite and cable TV channel which provides children's programs aimed at children aged four to 12 years and their parents. It focuses on programs that entertain and educate helping kids develop cognitive, social, emotional and personal skills. It is owned and operated by Discovery Net-

works Asia, a division of Discovery Communications.

Selected Discovery Kids shows are also broadcast on Discovery Channel on weekends.

For more information about Discovery Kids Science Fair, please view Parasat’s Community Billboard Channel 24, Parasat’s Facebook Account or official website athttps:// www.parasat.tv.

Primavera Residences and Agoda team up to offer serviced residences to travelers in Cagayan de Oro Manila, Philippines (August 6, 2014) – Traveling to Cagayan de Oro and looking for a place to stay?

Travelers now have the option of directly booking a condo suite at Primavera Residences via the global booking site Agoda.com, which offers a smarter hotel booking making online reservation of accommodation at destinations fast and secure. Payment is made via the website’s payment gateway.

Agoda is an international online hotel booking platform servicing customers across the globe. It operates in various countries including Singapore, Bangkok, Kuala Lumpur, Tokyo, Sydney, Hong Kong, and Budapest.

On Agoda.com users can browse and select and book available condo units for a minimum of two-days stay.

The listings include a description of the units' amenities, room type, and common facilities. It employs a worldclass technology offering instant confirmation. A 24/7 multi-lingual customer service is available on the site.

“We want to provide an alternative solution for travelers visiting Cagayan de Oro. Renting a condo unit for business or leisure trips can be less expensive than booking a hotel room, yet provides all the comforts of home,” said Primavera Residences Sales and Marketing Director Gladys Magadan-Echano.

“We believe that our partnership with Agoda benefits both travelers and our unit owners who can join our leasing and asset management program to generate a monthly income from rent. Owning a unit at Primavera Residences is a sound investment,” she added.

Primavera Residences is a 10-story eco-friendly condo property in Pueblo Business Park in Cagayan de Oro. The property has serviced residences with hotellike services, less expensive and homier options for vacationers and travelers.

All the units for rent are fully-furnished with kitchen, cable TV, refrigerator, and aircon. Amenities include a green inner courtyard, 24-7 security, CCTV, pool,

gym, function hall, laundry station, and twin elevators.

There are restaurants on the ground floor. Located in the booming business and commercial uptown area of the city, it is within walking distance of SM CdO Mall, easily accessible via public transportation, and near a world-class golf course.

Primavera Residences is owned and developed by Italpinas Euroasian Design and Eco-Development Corporation (ITPI). Its eco-friendly features include cantilevers that protect the units from direct sunlight and an indoor courtyard that maximizes the natural ventilation in the area. Soon the building will be fitted with photovoltaic solar panels that will produce enough power for the common areas. Because of its green features, it won in the 2014-2015 Asia Pacific Property Awards held in Kuala Lumpur for Best Mixed-Use Development in the Philippines.

For inquiries, visit www.primaveraresidences.com or call 09177921080 or (088) 310-8173.

BusinessWeek MINDANAO Best in Business and Economic Reporting

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Environment

8 Life much more difficult when mining came, say S. Norte fisherfolks friday|august 8, 2014

By Roel Catoto

CLAVER, Surigao del Norte – Life is getting harder and harder for fisherfolks in various villages of this town where mining companies operate.

Arcasio D. Genancias, 54, a fisherman in Barangay Cagdianao, said that since the Platinum Group Metals Corporation (PGMC) started operations, water sources have been polluted and the local folks lost their marine resources due to massive siltation.

“Our lives are now much more difficult compared to previous years, when we could catch fish just near the villages,” he said in the vernacular.

Genancias said that aside from the massive siltation, big ships throw out liquid wastes out into the water, which smell so bad.

“Sometimes they throw away used oil, sometimes wastes with really foul odor. The corals have been destroyed too with their huge anchors,” he added.

Genancias has seven children, two of whom are now supposed to be in college. “But I can’t afford to support them both, so only one is now in college,” he lamented.

Genancias recalled that in the 1990s up to early of the next decade, their fish catch could go as high as 30 to 50 kilograms everyday. Today, they’re lucky to get 8 kilos.

He said that the fish seemed to slowly disappear starting around 2007 with the operations of PGMC. Genancias pointed out that without the mining operations, they said they could have afforded to send their children to school, as many of the local residents finished college before mining operations commenced.

PGMC is mining nickel ore in Cagdianao which are reportedly being shipped out to China.

Genancias recalled that in 2007, a lot of sea cucumbers and octopuses died. Locals suspected mining operations

had something to do with it.

Claver is a coastal town and majority of its residents rely on fishing for their livelihood.

Barangay councilman Asterio Urbiztondo said fisherfolks in their area need big boats for them to go deep-sea fishing.

“I think what they need now is a big fishing boat because if they still do what they used to do now, they couldn’t make both ends meet,” he said.

Urbiztondo said that fisherfolks are among the poorest sectors of Philippine society and they need help, especially now that their resources had been greatly affected by the mining operations.

Nerio G. Casil, regional direc tor of the Bureau of Fisheries and Aquatic Resources (BFAR)-13, has acknowledged that the marine resources in Claver have been greatly affected by mining activities.

He said siltation is a big problem in the town’s marine ecosystem.

Siltation is a problem in the coastal village of Cagdianao in the municipality of Claver, Surigao del Norte, no thanks to mining operations, as shown in this file photo taken June 2014. Local fisherfolks claim they are now deprived of their livelihood because of the dwindling marine resources because of pollution from mining operations. mindanews photo by roel n . catoto

Casil urged the fishermen to go deep-sea fishing, too, since they already installed an aggregating device known as “payaw”. He added that BFAR can help the fisherfolks in this aspect.

Claver Mayor Eddie Gokiangkee said, too, that siltation is a huge problem in the town. He added that the mining companies don’t really practice “responsible mining,” contrary to their

DENR 10 conducts protected area conference, governance assessment CAGAYAN DE ORO CITY -- To organize and share the good practices of the Protected Areas (PAs) in Region 10, the Department of Environment and Natural Resources (DENR) conducted the first PA Conference and Regional PA Governance Assessment at Cagayan de Oro City.

DENR 10 regional director Ruth M. Tawantawan said the conference will give an opportunity to know and share the different experiences of PA management and to give importance in understanding the best practices of PAs in the country.

Secretar y Nereus

Acosta, Presidential Adviser of Environmental Protection, likewise urged the participants to support and preserve the good strategies in the management of PAs in Northern Mindanao.

Acosta discussed how to attain the goals in biodiversity conservation and to give focus on the impacts of climate change towards climate change resiliency.

Mt. Kitanglad Range Natu r a l Par k an d Mt .

Kalatungan Range Natural Park in the province of Bukidnon, Mt. Balatukan Range Natural Park and Initao-Libertad Protected Landscape and Seascape in the

province of Misamis Oriental, Mt . Ma l i n d a n g R a n g e Natural Park and Baliangao Protected Landscape and Seascape in the province of Misamis Occidental and Mt . Ti mp o on g - Hi b o k Hibok Natural Monument in the province of Camiguin meanwhile received recognition for its successful implementation as well as best practices.

The participants of the conference include members of the New Conservation Areas in the Philippines P r o j e c t ( Ne w C A P P ) , ASEAN Heritage Park (AHP), Protected Areas Management Board (PAMBs), Indigenous

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Peoples (IPs) from the different PAs in the country, p r i v at e o r g a n i z at i o n s , national government agencies and other stakeholders.

The activities in the conference also include presentation of the different PA M a n a g e m e n t B e s t Practices and the display of exhibit showcasing the PAS in Region 10.

S om aw an Su kpr a s e t from the ASEAN Centre for Biodiversity (ACB) in Thailand and Director Monina Uriate discussed the ASEAN Good Protected Areas Management Practices of ACB in the said conference.

(SLDAlpas/DENR)

claims.

He said mining companies should pay for what they have done to the environment.

In the course of interviewing fisherfolks, other residents of Cagdianao and government officials over the past weeks, MindaNews tried to set appointment with PGMC’s community relations

officer, Wilfredo Labe. Labe set appointments twice, but did not show up on both occasions.

But he claimed in a text message that his company has an in-house desilting system and that they even have two contractors doing desiltation for PGMC. mining/PAGE 9

Int’l conservation group lauds conviction of 12 Sino poachers MANILA -- The international conservation group World Wide Fund for Nature (WWF) on Wednesday lauded the conviction of 12 Chinese nationals who were caught poaching after their fishing vessel ran aground near the Tubbataha Reef Natural Park in April last year.

The Regional Trial Court (RTC) in Puerto Princesa City, Palawan on Tuesday imposed a prison term of up to 12 years to the 12 Chinese fishermen for violating Republic Act 10067, or the Tubbataha Protected Area law of 2009.

The captain received the maximum penalty of 12 years in prison, while members of his crew were meted out six to 12 year sentences.

Each was also fined USD 100,000 – around P4.3 million.

WWF president and CEO Jose Maria Lorenzo Tan s ai d t h at it w a s Tubbataha rangers who apprehended the poachers aboard the F/V Min Long Yu after the steel-hulled vessel ran aground on Tubbataha’s North Atoll and destroyed 3902 square meters of coral.

“It is one thing to create laws to protect our waters from environmental criminals, but another to effectively prosecute them,” Tan said.

“We c om me nd t he Tubbataha rangers and government prosecutors for playing key roles in successfully bringing these poachers to justice,” he said.

(PNA)

Steag supports Barangay Based Disaster Management Mapping: Community leaders of Villanueva, Misamis Oriental map-out specific strategies and interventions to mitigate impact or eliminate risks posed by natural and man-made hazards on the people in their respective villages. Nearly 200 community leaders in all the eleven barangays participated in a series of disaster management and risk reduction planning workshops undertaken jointly by the Villanueva Disaster Risk Reduction Management Council, energy-firm STEAG State Power Inc., the Office of Civil Defense (OCD) and the PHIVIDEC Industrial Authority. The activities were funded under the auspices of Steag's EGoLD (Enhancing Governance in Local Development) Program and is part of the Steag's continuing commitment to support local development efforts.

BusinessWeek MINDANAO

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friday|august 8, 2014

Plan... from page 2

diverse opportunities, he said.

During the meeting, Engr. Isidro Borja of the City Planning Development Office (CPDO), said a public hearing is required for the project.

He thanked different offices and sectors who actively participated in the preparation of the CLUP. Councilor Alexander Dacer, chair on the city council committee on subdivision and landed estate, said this should also be tackled by different committees and sectoral groups.

Dacer tasked the CPDO to plan and conduct sectoral meetings or public hearings relative to the CLUP project of the city government.

DTI... from page 2

North in Tambo, IBJT – South in Camague and in Central Market through the Economic Enterprise Development and Management Office (EEDMO), Office of the City Mayor.

In 2013, Con Ed seminars had been conducted in six barangays – five in Iligan and one in the Municipality of Lala, Lanao del Norte province.

Wit h t he c ont i nu e d support from both the local government and the private sector, the ARCCE project is hoped to be sustained since this undertaking delivers the opportunity for partners in business to affirm their c om m it m e nt t o s o c i a l responsibility, said Paclipan.

Earning... from page 5

decline has been one of the reasons for the Philippines’ earning an investment grade last year.

T h e e n d - 2 0 1 3 r at i o marks a 5.7 percentage point decline from the 44.9 percent seen at end-2009, or before President Benigno Aquino III’s term began. His economic managers aim to bring down this ratio to 30 percent by the end of his term -- a level they claim would provide ample fiscal space for growing the economy.

Batas... from page 6

heart, for they will give you good health and prolong your life, and they will give you everything you need. Then, it is also stated this way: seek first the Kingdom of God and His righteousness, and all of the things you need will be given unto you.

-ooo REMINDERS: Please tune in: “Tambalang Batas at Somintac”, at 1062 kHz on the AM band, Mondays to Fridays, at 6 a.m., simulcast, real time, over 1080 kHz in Dagupan City, 711 kHz in Naga City, 1260 kHz in Lucena City, 1224 kHz in Davao City, and worldwide, at www.eaglenews.ph; “Kakampi Mo Ang Batas”, at 103.7 mHz

in Don Carlos, Bukidnon, Mondays to Fridays, at 7 a.m.; and “Kakampi Mo Ang Batas” at 801 kHz on the AM band (Panay Island), Mondays to Fridays, at 10 a.m.

Cimagala... from page 6

feeling bad and lamenting.

Then we have to know how to deal with human misery.

In this regard, we just have to look more closely at Christ.

He showed us the way. He was full of compassion. If need be, he had to perform miracles, healing the sick, recovering the sight to the blind, hearing to the deaf, and even life to the dead.

Thes e miracles only show that we too should be compassionate with one another, doing everything to solve whatever misery we have. B efore having recourse to Christ for some extraordinary interventions as in some miraculous cures, we have to exhaust all human means to do this.

But he never failed to underscore the importance of faith in all this. That is why he always told the beneficiaries of his miraculous cures that it was their faith that made them merit such miracles. The unbelievers did not receive any miracles.

He neither failed to preach about the faith. It was as if he wanted to disabuse us from totally relying on our human and natural means, or on some stroke of luck and superstitious practices. The human and natural means, of course, are always necessary, but always at the instance of faith, and never without it. So we have to be careful because we tend to be held captive by human and natural means alone, if not by some superstition.

When all human and natural means have been used and still no relief is attained, Christ showed us how to about that predicament.

It is simply to b ear everything, even up to death, because as long as we unite our suffering and death with his, we too can expect to resurrect with him.

B esides, our human miseries already have some beneficial effects. They tend to purify and strengthen us, and to lead our path toward God. These truths should always be in our mind as we go through our miseries.

Mining... from page 8

But a visit to the area shows that siltation has spread to the sea, even the corals. When one steps barefoot on the beach, one’s feet will turn orange that takes days to disappear.

Another Cagdianao fisherman, Elpedio Enaya, 61, said that because of the mining operations, he too could now hardly catch fish.

He lamented that he is also not allowed to fish in nearby Bucas Grande Island, a 30-minute boat ride across the channel, because he is not a resident there.

Enaya is the vice president of the Cagdianao Fishermen Organization, which now has 80 members.

It’s not only the fish and other marine resources that have dwindled in Cagdianao, but even the fishermen themselves.

Enaya said that with the destruction of the coastal areas, the fisher folks have

been displaced, too. The same trend is true in the neighboring villages of Hayanggabon, Taganito and Urbiztondo, which have mining operations, too, according to Enaya.

Cagdianao resident Jun Acelo said that his village used to supply crabs to Su r i g a o C i t y, b u t n o t anymore.

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Algen’s Dive Resort (088) 3872015 Apple Tree Resort & Hotel 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 09399076948 Bahay Bakasyunan sa Camiguin (088) 3871057 / 3870131 Fax: 3870278 Basamanggas Resort 08822-760564 Fax: 760565 Cagayan Riverview Inn 8584245 / 729039 Fax: 8584245 Casa Crystalla 8561704 / 722465 Fax: 722480 Casa Isabella (088) 8564065

Casa Azucena 8563402 / 09236593973

Chali Beach Resort 732840 / 8552108 Fax: 8555941 Chananthon Bed & Breakfast 8568189 / 3093095 Country Village Hotel 8583004-06 Fax: 8583006 D’Budgetel 8564200/726643 Fax: 8564300

SERVE THE FOOD THAT HEALS, THE BODY HAS THE POWER TO HEAL ITSELF, THEREFORE ALL REMEDIES AND TREATMENTS SHOULD SUPPORT SELF-HEALING RATHER THAN MASK SYMPTOMS. VEGAN HYGIENIC FOODHAUS, SUPPORT IN NUTRITION AND SUPPLEMENTATION, NON TOXIC, NON INVASAVE CARE TO PREVENT ILLNESS, TREAT ACUTE AND CHRONIC DISEASE: LIKE CANCER, LOWER BLOOD CHOLESTEROL, LOWER BLOOD SUGAR, IMPROVES IMMUNE SYSTEM, CURE HEART DISEASES AND CLEAR TOXIN FROM THE GUT AND VOWELS THAT HAVE NOT RESPONDED WELL TO OTHER COMPLEMENTARY MEDICAL MODALITIES. CONTACT US! MAIN OFFICE: IST ST. SULIT BLDG., ECOLAND SUBD., MATINA DAVAO CITY. PHONE: (082) 286-2606/2868763 CELL#: 09177007206/ 09177006731 (GLOBE) 09194042122/09474706380 (SMART) E-mail: veganhygienicfoodhaus@yahoo.com

Dahilayan Forest Park 8568562 to 63

De Luxe Hotel 8572144 / 724548 Fax: 724563 Discovery Hotel 727814 / 8563896 Fax: 8563897 Duka Bay Resort (088) 3312290 Fax: 725265 Dynasty Court Hotel 8574802 Fax: 857900 Grand City Hotel 8571900 / 728469 Fax: 723718 Hotel Conchita 8563856 / 727355 Fax: 8563857 Hotel Koresco 8589749-50 Fax: 8589748

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

9

Hotel Sogo 8520383

Kingston Lodge 8585696 Fax: 8585696 Mapawa Natures Park 8584402 Fax: 725265 Mallberry Suites 8541999CDO / 7249999 Fax: 8544999 MAIN

Prawn House (088) 3095992 Fax: 8519219 Ridge View Chalet 8588946 / 8587946 Fax: 8588946 Seda Centrio Hotel 32288888 Southwinds Hotel 724803 / 8562036 Fax: 8562036 Stargate Dream Vacation Resort 8515003 / 8509999 The VIP Hotel 726080 / 8562505 Fax: 726441 Tune Hotel 8800888/8801306 Travelers Pod 8518988 Uptown Condotel 8511800 Villa Paraiso Apartelle 3870419 Fax: 3870429 HONORARY MEMBERS:

Dept. of Tourism 723696/726394 / 8564048 Fax: 723696

RESTAURANTS:

Bigby’s Café 72-1071/857-5511/8575836 Fax: 711843 Café Laguna 8582999 Fax: 8567001 DM Villaruy Restaurant 733790

Golden Ajirang I 856-5271 Fax: 727876 Grand Caprice Restaurant 72-6955/856-2302 Fax: 72-4986 Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003 La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605 Max’s Restaurant 8586297 Fax: 8568264 Missy Bon Bon 8566852 / 09228606442 Fax: 8566852 SLERS Ham & Café 8551438 Thai Me Up 738424/3108424 Fax: 738424

Barkadahan Grill BRANCH P & J Lim Bldg.,8551234 Tiano Brothers Maxandrea Hotel Kalambagohan Sts., 8572244/729943 Fax: 724090 La Tegola Cucina Italiana Tel. # (08822) 727-829 * Miami Inn 8585959 # (088) 856-1947 8581901Telefax to 02 Fax: 725279/728486 N Hotel CAMIGUIN (088) 8801924

limketkai luxe hotel 8800000

BRANCH B. Aranas St., Poblacion, Dear manok tiano Paras Beach Resort Camiguin 8564914 Mambajao, 8568563 Fax: 8568563 Tel. # (088) 387-0491 dear manok divisoriaPhiltown Hotel chaves 726295 / 8564402 Fax: 723104 8573413 CORRALES BRANCH Pryce Plaza Hotel Ave., 8583131Corrales Fax: 726687

Cagayan de Oro City

BusinessWeek MINDANAO Best in Business and Economic Reporting

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

Arts&Culture

An evening of Chopin Music at Rodelsa Hall

E

xperience the music of one of the geniuses of music, Polish composer Frederic Chopin (1810-1849) through a one-night only concert of piano virtuoso and the pride of Cagayan de Oro, Rudolf Golez this coming August 9, 2014, 7:30pm at the Rodelsa Hall, Liceo de Cagayan University’s home of the performing arts.

The all-Chopin program of Rudolf Golez will feature the great composer’s 24 Etudes,

Opus 10 & Opus 25. The first group of twelve etudes in Opus 10 was composed

by Chopin while he was in his teens (between 1829 and 1832) and published a year after in France, Germany, and England.

This Opus was dedicated to his good friend and also one of classical music’s greatest, Franz Liszt.

The next group of twelve Études of Opus 25 were composed at various times

between 1832 and 1836, and were published in the same countries also a year after.

Golez, who is currently finishing his degree in Doctor of Music at the Philippine Women’s University College of Music in Manila, is currently the Vice President for Cultural Affairs of Liceo de Cagayan University and Dean of College of Music of the same institution.

He recently had a string of successful performances

in Manila and Cebu. He collaborated with Taiwanbased Filipino cellist Victor Coo in “Duetto” at the Insular Life Auditorium inAlabang and with Fil-am young Violinist Bradley Bascon in a packed concert at Rodelsa Hall last July 31.

To reserve a seat to this special event, call (088) 8584093 to 95 local 109 or text/call 09177222479/09989612102.

See you!

Joscel Barrio de los Cielos

XU grad lands top 5 in CPA board exam

By Stephen J. Pedroza An Accountancy graduate of Xavier University ranked 5th place among the passers in the July 2014 Certified Public Accountant (CPA) Licensure Examination.

Joscel Barrio de los Cielos garnered a percentage rating of 91.57 according to the roll of successful takers released by the Professional Regulation Commission (PRC) on August 1, Friday.

Out of the 5, 540 takers, only 1,107 passed the examination conducted simultaneously by the Board of Accountancy in the cities of Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo and Legazpi on the last week of July.

The registration for the issuance of Professional Identification Card and Certificate of Registration will be on Aug 8, 11 and 12, 2014.

Successful examinees must personally register and sign in the Roster of Registered Professionals.

The date and venue for the oathtaking ceremony of the CPA board passers will be announced later.

For three consecutive CPA exams now, XU graduates were able to make it to the top 10. In the May 2013 exam, Glen Dareen Santos ranked 8th, Ryan James Aban placed 5th in October 2013 and recently, de los Cielos landed in the 5th spot.

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Best in Business and Economic Reporting

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Epira... from page 1

bilateral contracts with generation companies or other suppliers.

The bill provides that “The government through t he NPC or any ot her government-owned or – controlled corporation shall be authorized to generate and sell power or electricity to generate from renewable energy sources as defined in RA 9513, otherwise known as the ‘Renewable Energy Act of 2008,’ and to incur new obligations to purchase power through bilateral contracts with generation companies or other suppliers.”

They said it is high time the government seriously focuses on generating other sources or energy in light of the present energy problem.

The elder Rodriguez said the law provides it is the policy of the State to “accelerate the exploration and development of renewable energy resources such as, but not limited to biomass, solar, wind, hydro, geothermal and ocean energy sources, including hybrid systems, to achieve energy self-reliance, through the adoption of sustainable energy development strategies to reduce the countr y’s dependence on fossil fuels…”

“It is therefore imperative that all avenues be considered when it comes to renewable energy,” he said.

He cited a Department of Energ y report on the 2013 power supplydemand outlook, which noted that the Mindanao grid has been experiencing “undergeneration” since 2001.

It also said that half of the region’s plants are hydroelectric and depends on “the availability of water and affected by weather conditions.”

Mindanao needs 1,600 megawatts (MW) of additional power to “meet the electricity demand and the required reserve margin of the grid,” the report added.

“These very dark projections can actually be already felt on the island as parts of Mindanao are now suffering from 10 to 12 hours of rotating power blackouts,” he said.

Rodriguez said there h a s b e e n n o d r am at i c improvement in Mindanao’s power situation since the DOE issued its outlook.

The DOE also reported the region’s power supply of 1,064 MW was 158 MW short of its peak demand of 1,222 MW according to Rodriguez. (PNA)

Globe... from page 1

that enjoins Mindanaoans to take pride in their region by posting and sharing photos of the different wonderful spots, places, and tourist attractions in Mindanao using GoUNLI20Plus, a Mindanaoexclusive prepaid promo which offers unlimited calls to Globe/TM, 20MB of data for mobile surfing, and 50

texts to all networks for only P20 valid for 1 day.

The top 20 cool spots and places all over Mindanao chosen by Globe Prepaid customers will be recognized and will be awarded by S a r a h G e r o n i m o. T h e w inners w i l l re ceive a #WonderfulMindaNOW trophy including a meet and greet session with the Popstar Princess.

Aside from the winners, Ka-Globe Kagayanons are also invited to participate in an entire day of fun activities at the Limketkai Mall for free starting 1PM, where they can get exciting freebies and win raffle prizes at the #WonderfulMindaNOW booth. Capping off the event are performances from the country’s top bands Sponge Cola and Up Dharma Down with a special number from Sarah Geronimo.

“We are inviting all our Ka-Globe in Cagayan de Oro to join us as we mark the successful run of our #WonderfulMindaNOW program at the Limketkai Mall.

This is our way of extending our gratitude to all our Globe Prepaid customers in Cagayan de Oro and the whole of Mindanao who continue to avail of our offers and promos such as the GoUNLI20Plus which empowers subscribers to harness the power of social media to share moments and amazing experiences to the rest of the world,” says Issa Cabreira, VP for Globe Prepaid Business.

The most affordable and easy-to-use prepaid voice and mobile data combo, GoUNLI20Plus allows subs crib ers to keep in touch with their families and friends through calls without the need for prefix dialing. Mindanao prepaid subscribers can register to GoUNLI20Plus by texting Go20Plus to 2655. To know more about GoUnli20Plus, visit www.globe.com.ph/ gounli20plus.

Aside from products and services, Globe is also set to make its presence felt in the entire Mindanao with its nation-building programs for schools, homes, and livelihood as well as initiatives that enable a service-oriented and customer-centric workforce for a wonderful customer experience.

Rehab... from page 1

quake damaged several infrastructures in Bohol.

“Malacañang previously authorized the Department of Budget and Management to release a total of P987.25 million to enable the 35 SUCs to rebuild calamity-wrecked structures and other physical assets, based on actual impairment verified

by CHED and the Department of Public Works and Highways,” Gullas said.

“The P987.25 million is chargeable against Rehabilitation and Reconstruction Program Fund under the 2014 General Appropriations,” he added.

(MindaNews)

11

Philippine Press Institute Civic Journalism Community Press Awards 2013

Project... from page 1

the more than 30 electric cooperatives and distribution utilities in Mindanao -- from Z amb o ang a p e n i ns u l a , to CARAGA, C otabato, Saranggani, Bukidnon and Davao region -- have signed power supply contracts with the company.

“With the completion of our project, we will be able to supply reliable baseload power to most of Mindanao and alleviate the effects of the power shortage in the island,” he said.

Key cities like Davao, Cagayan de Oro, Butuan, Tagum, Kidapawan, Gen. Santos and Cotabato will also be receiving much needed power supply once Therma South starts operations next year.

Therma South, a wholly-owned subsidiary of AboitizPower, is putting up a 300-megawatt coal-fired power plant in Davao City and Davao del Dur. As of June 2014, the power plant project is 88 percent complete with more than 3,500 workers on site working round-the-clock on the project. “ We a r e l o o k i n g forward to our testing and commissioning phase this year,” Cariaso said.

“As of June 2014, the power plant project is 88% complete with more than 3,500 workers on site working round-theclock on the project,” he said.

“By b eing b as elo ad, Therma South can operate almost 24/7 and is not d e p e n d e nt on we at h e r conditions. This is vital in complementing Mindanao’s power supply which is heavily dependent on hydro which supplies 51% of the island’s supply,” AboitizPower said.

“During summer months and extreme dry weather, Mindanao’s power supply is extremely hampered [by] the low water levels in the Agus and Pulangi hydro power plants,” the company added.

Jollibee... from page 4

crisis forced the company to pull out its investments in the mid-1990s.

“Instead of going alone to Indonesia because it’s a very big market, it’s better for us if we

go there and partner with a local. established itself as a strong the homegrown fast food giant We’ve been looking for partners player in the region with operations recorded a net income of P1.08 these couple of years,” Baysa in Brunei, Singapore and Vietnam. billion, up 20.50 percent from a The company also operates in year ago’s P895 million. said.

JFC will initially roll out a few China, Hong Kong and the Middle System-wide retail sales, a measure of all sales to consumers number of stores in Malaysia and East.

Indonesia, similar to a strategy JFC saw “strong” growth in from company-owned and employed in Vietnam where it its brands in the second quarter franchised stores, jumped 14.6 put up 5-10 stores on its first 3-5 of the year due to the opening percent to P27.31 billion from of new stores and robust same- P23.84 billion in 2013 – making years.

However, JFC is more confident store sales, Baysa said, without the first quarter’s performance the highest growth for any quarter in that it can expand at a faster pace in providing details. those two new countries compared In the first quarter of the year, the last 5 years. to Vietnam because of the wealth of experience the company has gained in international markets over the years.

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BusinessWeek MINDANAO Best in Business and Economic Reporting

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