BusinessWeek Mindanao (December 21, 2016)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 088

Market Indicators

As of 6:14 pm December 20, 2016 (Tuesday)

FOREX

PHISIX

US$1 = P49.984

6,658.66

X

5.4 cents

55.47

X

points

Briefly Duterte’s wishes ZAMBOANGA City -- President Rodrigo Duterte on Saturday, expressed hopes that gunbattles will take a back seat this Christmas season.

Asked by reporters here for his Christmas message, President Duterte said he is hoping for a peaceful Christmas, including with the communists and even terrorist group Abu Sayyaf.

“I’d like to greet everybody, lahat na, to the Filipino people, the law-abiding, and of course, if they find it in their hearts though this is not really something for the Moro but you know that this kind of events is closest to the hearts of the Christians. Na we can have a peaceful Christmas,” Duterte said in his visit to the Western Mindanao Command (WesMinCom).

He also urged terrorist group Abu Sayyaf to “take a vacation.”

Amend consti --Dureza PRESIDENTIAL Adviser on the Peace Process Jesus Dureza has said that the government is open to amending or even rewriting the 1987 Constitution to address the root causes of armed rebel resistance to the government.

“If you really look up what they (rebels) aspire for, you have to open up our Constitution to be able to accommodate them.

That is the reality,” Dureza said in his remarks during the recent Konsult Mindanao Peace Conference in Davao City participated in by Lumad, Muslim and Christian leaders from across Mindanao.

He noted that the existing Philippine Constitution has become a “stumbling block” in effectively negotiating peace with the National Democratic Front of the Philippines/ Communist Party of the Philippines-New People’s Army (NDFP/CPP-NPA), the Moro Islamic Liberation Front (MILF) and the Moro National Liberation Front (MNLF).

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NIA needs P40B yearly for irrigation projects www.businessweekmindanao.com

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By ANTONIO L. COLINA IV, MindaNews

HE National Irrigation Administration (NIA) needs some P40 billion a year to put up the necessary irrigation projects in the country.

SLOW-PACING PROJECT. Workers at the construction site of the megadike project at the back of the City Hall in Cagayan de Oro City. The dike was built to avoid a repeat of the damage wrought by Typhoon “Sendong” five years ago. MindaNews photo by Froilan Gallardo

Only 4 of 100 in Davao are jobless

By ANTONIO L. COLINA IV, MindaNews

DAVAO City — “Only four out of 100 people in the Davao region” are unemployed, Jason Balais, assistant regional director of the Department of Labor and Employment (DOLE) 11 said Monday, thanks to the influx of investments following the election of long-time Davao City mayor Rodrigo Duterte as President

of the Philippines.

B a l a i s t o l d a p re s s conference Monday that employment rate in the region went up to 96.4% in the third quarter this year, up from last year’s 94.5% for the same period while unemployment rate dropped from 5.6 % in the third quarter of 2015 to 3.6% in the same period in 2016.

The Davao region comprises the provinces of Davao del Norte, Davao del Sur, Davao Occidental, Davao Oriental and Compostela Valley and the cities of Davao, Panabo, Tagum, Samal, Digos and Mati.

The DOLE in Region 11 noted that in 2012, unemployment rate was 6%; in 2013, it rose to 6.9%; and in 2014, it dropped to 5.6%.

Jobless/PAGE 10

More gov’t support for SMEs urged

VIP CHRISTMAS VILLAGE. Two boys are mesmerized by a twirling carousel through the glass of The VIP Christmas Village at the VIP Hotel in Cagayan de Oro City. (photo

by Mike Baños, NPN)

SMALL and medium enter pris es (SMEs) are seeking support from the government in accessing finance and marketing their products abroad, as they ready themselves to meet global trends.

“I think the government should help the SMEs to find, develop the market and also in the use of technology,” Francis Ferrer, chairman of EMS Component Assembly Inc., support/PAGE 10

Newly-installed NIA chief Peter T. Laviña said in an interview at the sidelines of Kapehan sa Davao on Monday that massive construction of irrigation projects is needed to attain rice self-sufficiency.

“Because of our lack of irrigation facilities, we cannot attain rice self-sufficiency. In rice production, requirement is water, so even if we have a dream to produce more rice if we cannot provide water, we cannot attain the dream. NIA is an important ingredient in attaining NIA,” he said.

Citing the 10-year

masterplan of NIA made by the previous administration, he said that only 57 percent of the country’s irrigable lands have irrigation systems while the other 43 percent have none.

He said NIA’s budget for next year amounting to P2 billion will not be enough to cover all the expenses.

But he is optimistic that with the support it is getting from the governments of China, Japan and South Korea, and the World Bank and Asian Development Bank “we will be able to irrigation/PAGE 10

‘GREEN’ DECORS. A buyer tries to negotiate a price buying Christmas decors made of recyclable materials in Mlang, North Cotabato. MindaNews photo by Geonarri O. Solmerano

Siargao mayor serves 90-day suspension

By ROEL N. CATOTO, MindaNews

DAPA, Siargao Island – The mayor here has vacated office following the 90-day preventive suspension order issued by the Sandiganbayan Third Division over a graft c a s e i nvolv i ng a l l e ge d anomalous purchase of heavy equipment.

Mayor Peter Rauya told MindaNews over the weekend

that he filed a motion for reconsideration and motion to hold in abeyance the decision but the Sandiganbayan has yet to respond.

In a letter to Ruaya dated December 9, Lilibeth Famacion, regional director of the Deparment of Interior and L o cal Government suspension/PAGE 10

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Economy

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An eco-inspired Christmas trees spectacle

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UTUAN City – To live on the spirit of annual Christian festival celebrating Christ’s birth, the Christ the King Parish in Brgy. Tungao, this city, handled by parish priest Rev. Fr. Carlito L. Clase of the Diocese of Butuan spearheaded the Christmas Tree Making Contest 2016.

The jovial competition was joined by lay people who are members of the Family Groups (FG)/Basic Ecclesial Communities (BECs) or locally known as “Gagmay’ng Kristohanong Katilingban (GKK).

In demonstrating ingenuity, each participating group collaboratively worked in creating the gigantic 10-meter high and enchanting Christmas tree that is made

of indigenous, biodegradable and non-biodegradable recycled materials.

“Traditionally, whether cedar, spruce, pine or fir trees are used - all Christmas trees have one thing in common, t he y’re a l l e verg re ens.

However, to spur creativity and novelty, all contestants are encouraged to convert waste materials into reusable ones as inexpensive and ecofriendly embellishments for setting up a Christmas tree,” stated Fr. Clase.

The activity has truly strengthened the advocacy for Solid Waste Management by emphasizing 3Rs – Reduce, Reuse, Recycle. Such a festive holiday of upcycled Christmas trees display.

Seeing through an array of skillfully crafted Christmas

trees, the intricacies of the conceptualized designs reveal perfectly the contest criteria that include creativity and uniqueness (40 percent), recyclable materials (40 percent) and overall impact (20 percent).

The glistering lights made the entries more spectacular and it even made the judges admit for having a hard time rating the fantastic Christmas trees. The ability of the community to distinguish practicality and to generate ideas exemplified the Filipino value of frugality.

On its third year of holding the contest, increased sum of prizes are at stake for the winning entries: 1st prize (P7,000); 2nd prize (P5,000); 3rd prize (3,500); and consolation prizes amounting

to P1,000. From among the 21 official entries, entry number 16 ranked first, followed by entry numbers 20 and 4, respectively.

As the fabulous and sturdy Christmas trees stand out day in and day out, spectators were amazed with its bright and cheery symbolism of peace and harmony. It will be showcased until the commemoration of epiphany.

“Have you ever experienced that ebullient feeling of celebrating a green and nature-friendly Christmas? Those feelings are incomparably atypical. It’s good to see villagers, tagging along their family members with chilly excitement, relishing the festive scenery of Christmas trees and the ambiance of holiday season,” cited Fr. Clase.

He is more optimistic that the eco-friendly inspired undertaking will go a long way, not only a mere display

of Christmas trees that looked bombdiggity every year, but a motivating factor to increase environmental awareness.

GKK at its work The involvement of the GKK members is along the context of giving emphasis to the 2017 Year of the Parish as Communion of Communities, which is anchored on the theme, “Forming BECs as agents of communion, participation and mission,” and in preparation for the 500th anniversary of Christianization in the Philippines on 2021.

To prepare the faithful for 2021, the bishops of the Philippines announced ‘a nine-year journey for the New Evangelization’ with a different theme for each year: • I n t e g r a l F a i t h Formation (2013) – Year of Faith in the Church • The Laity (2014) • The Poor (2015) • The Eucharist and

the Family (2016) • The Parish as a Communion of Communities (2017) • The C lerg y and Religious (2018) • The Youth (2019) • E c u me n ism and Inter-Religious Dialogue (2020) • Missio ad gentes [mission to the nations] (2021) It is also focused on fortif ying the elements of prayer, penance and communion (PPC).

“I am glad that Christians and everyone else are in the mood to celebrate Christmas, but let’s remember it’s not all about our need for a cozy, warm and fuzzy feeling.

It’s about the birth of Jesus Christ. Giving all diligence to remembering the real reason for the season. May all your Christmas trees be meaningful and filled with hope,” expressed Fr. Clase.

(VLG/PIA-Caraga)

SU R IG AO C it y – T h e provincial government of Surigao del Norte underlined its local investment code on top of the economic and livelihood, social services and environment programs for the year 2017 during the HEALS Plus Convergence Meeting held recently at the PGO Conference Hall, this city.

Provincial Information Center Officer Mary Jul Escalante disclosed that it was discussed during the said meeting to review the

Investment Code of the province to attract, promote and encourage domestic and foreign investments in the province.

She s aid t hat L o c a l Investment and Incentive Code was also discussed for each municipality to captivate more investors and to generate more jobs, increase income, hasten social progress in the municipality, and contribute to the overall economic growth of the province.

While on social services,

Escalante said that the province will prioritize the welfare of the senior citizens, children/youth, persons with disability (PWDs) and Indigenous People (IP) through skills enhancement training; values formation; entrepreneurial, leadership and basic business management; among others.

Esclante further said that programs for environment a r e a l s o u n d e r w ay i n coordination with different national line agencies. (PICPGO/PIA-Surigao del Norte)

Surigao Norte’s investment code seen to attract more investors RPN Radyo Ronda Stations Nationwide

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Opinion

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Dagon sa Hoyohoy: A Review

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

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The Hippie and the Old Man Think a minute…There was a young, intelligent university student named Bill. Bill was what some people call a “free spirit” or “hippie.” He had wild long hair, always wore the same old and torn T-shirt, jeans and no shoes. Across the street from the university campus was a conservative church. The people there were rich, older and well-dressed.

They wanted to help the university students nearby, but they did not know exactly how to do it.

Well, one day Bill decided to go visit this church by his university. As usual, he went wearing his only jeans, old, torn T-shirt and his dirty long hair. The church service had already started and was full, so Bill walked down the center aisle looking for a seat.

People were getting more and more uncomfortable as they watched this unclean, wildlooking young man. Finally, Bill got to the front and saw there were no more empty seats, so he just sat down on the floor right in front of the preacher. No one had ever done that in this church before! By now, everyone was upset and distracted.

Then, a respected old church deacon got up and started toward the front.

Everyone was thinking: “You

THINK

A Minute

Jhan Tiafau Hurst can’t blame the deacon, he really should correct this disrespectful young man.”

Everyone was watching. Even the preacher stopped his sermon when the old man finally got to the front. Then, they were all completely surprised to see the old deacon drop his walking stick and very slowly sit down on the floor next to this young hippie. He did not want this young man to sit alone and feel unaccepted. The people in the church were moved to tears. Finally, the preacher said: “What I am preaching about today you will probably never remember. But what you have just seen you will never forget!”

Friend, it does not matter how you look or how much money or education you hurst/PAGE 10

W hen I w at c h e d t h e dance-drama “Dagon sa Hoyohoy”(Amulet of the Breeze) last Friday ( D e c e mb e r 1 6 ) , I w a s convinced that Dagohoy—a Boholano hero—was indeed an icon to be emulated for his grit, strength, and nationalism. Retelling of Dagohoy’s story is important because he established an independent government for the island during the triumphant rebellion against Spanish colonizers which lasted from 1744 to 1829.

The hero’s lineage was undocumented, probably because of the Spaniards’ disinterest in recording t he e x pl oit s of a man who humiliated them. A centenarian grandson of the brother of Dagohoy’s brother and successor— Placido Sensano—explained that Francisco Dagohoy was born in 1724 in Cambitoon, a barrio of Inabangan (now In a b a n g a ) . T h e h e ro’s surname was unknown; “Dagohoy” was believed to be a “num de guerre” chosen for a good reason, coming from the Boholano words dagon (amulet) and hoyohoy (breeze).

And why such a name?

According to accounts, Dagohoy had an amulet necklace which gave him an advantage in battle.

His supernatural powers endowed by the amulet could make him appear and disappear at will and jump from one riverside to another or from hilltop to hilltop—thus the attribution for a breeze because it was the characteristic of his “birtud”.

He was eventually called “Dagangan” by his followers playing up his ability to glide among the hills. Truly, a name has a meaning, so Dagohoy’s exploits could not just be brushed aside as a mere tale.

What sparked the hero’s rebellion against the Spaniards was Fr. Morales’ (a Spanish Friar) refusal to give a Christian burial for his brother Sagarino. Sagarino died because when he was sent to arrest a renegade Indio, the two had a duel which caused his death. He would not be given a proper burial because of the cause of death. The priest refused to bury Sagarino on consecrated ground as the corpse laid rotten for three days—an injustice that angered the hero. He then convinced 3,000 followers to abandon their homes and go with him in an inaccessible fortified place in the mountains. The rebellion spread like forest wildfires as the liberator emerged triumphant in all fronts.

Dagohoy was a master military strategist. He put his headquarters where enemies could not access through the cliffs and he could see them approaching far off.

Behind the acclaimed Boholano musical-drama were Lutgardo L abad (production concept and direction), Marianito Luspo (playwright) and Elvis Somosot (composer).

The performance toured in dif ferent schools in Tagbilaran and the U.S. In terms of direction, chore o g r aphy, l i g ht i ng and costumes, the

stage pres entation was commendable. The cast did well in portraying their various roles. But one thing I expected as an audience: to see how the main character earned his name which means “dagon sa hoyohoy”. Although abridged, the musical dancedrama could have shown not just the tamban (folk healer) giving the amulet to the hero and some fighting forms choreographed by a Filipino martial artist.

I am sure the hero did not just earn the surname because of a piece of necklace bestowed and a passive belief that it possessed powers.

How about showing Dagohoy riding with the wind as he jumps from cliff to cliff or hilltop to hilltop? One could be more persuaded by his supernatural abilities than agree with the modernist doubts because in history— as in any ot her s o ci a l science field—we can establish reality based on constructivist intellectual tradition: an ontological position in research asserting that social phenomenon and their meanings are determined by the social actors and knowledge is not independent from the social actors whom researchers gather the data from. Let the modernist minds ask again: why did he earn that surname?

There was, anyway, no contradictory testimony t hat t he he ro, i nd e e d, performed supernatural feats.

The surname was rightly earned from the show of supernatural abilities. The hero has been popular not

lucell larawan just because he led many followers, mastered guerilla warfare and was a military strategist. Leaving behind the superhuman element, the hero would just be a hoyohoy.

The arnis of the warriors on stage were obviously adroit in form—I can tell as an arnis practitioner. But without showing the hero appearing and disappearing like a breeze, how can we set apart Dagohoy from Tamblot, Lapu-lapu and the rest? If he is portrayed more as a necklace-bearing warriorleader surrounded by arnis experts with bolos and sticks did it relegate the qualities of leadership and combat prowess to the natural realm?

I am just saying my views as an audience. I cannot miss the significance of being the amulet during times of oppression. I just want the hero to show the real meaning of being the dagon in times when everyone on the island and the entire country needed as savior. This is closer to our history free from the influences of colonial clutches that usually skip what is beyond the ordinary senses.

Changing the minds and spirit of Filipinos vs. drugs LIFE’S INSPIRATIONS: “…

You will conceive and give birth to a son, and you are to call him Jesus….” (Luke 1:31, the Holy Bible).

-ooo FAT H E R’ S P R O O F THAT JESUS IS GOD AND SAVIOR: So, the Prophet Isaiah predicted, upon the prodding of God, that He himself will come down to earth from heaven, in the form of a human being, as what Isaiah 7:14 and 9:6 are saying. Did this prediction happen? Yes, it did, and Matthew 1:22-23 of the Bible confirm the occurrence of what God promised to Isaiah. The same chapter of Matthew in fact also tells us the Name that God wanted to be called, and it is Jesus.

-ooo K I L L I N G S INEFFECTIVE AGAINST DRUG PROBLEM: I really don’t know if is true that P r e s i d e nt D u t e r t e h a s resorted to crying every night to ease the pain of knowing that thousands and thousands of government officials are involved in the debilitating illegal drugs trade in the country but, perhaps, somebody should remind him that crying,

as he already knows for sure, will not really solve anything.

A n d t h e Pre s i d e nt’s me n w i l l su rely t r y to explain again that he was merely being byperbolic or exaggerating once again w hen he claime d he is crying every night, but if this information is really true, it would confirm the seriousness and true gravity of the illegal drugs problem t hat t he Phi lippines is facing.

It is als o giving t he information that either there is now a glaring admission by the Duterte government that the existing policy on fighting drug addicts, drug lords, and drug syndicates with violence and death i s i n e f f e c t i v e , o r t h at something more effective than simply murdering those involved in drugs is needed.

-ooo CHANGING THE MIND AND SPIRIT OF FILIPINOS VS. DRUGS: I maybe repeating myself, but the reason there is a prof itable illegal dr ugs trade in the Philippines is that there are millions and millions of Filipinos who use and patronize illegal

drugs. Duterte’s figure of some four million drug addicts, which is already mind-boggling to say the least, still appears to be a g re at l y c on s e r v at i v e estimate.

Consequently, in a sincere campaign to eradicate the use of illegal drugs, there must be a parallel move to stop our people from using, patronizing, and buying, these substances.

The only way to do this is to change their mind, and lift their spirits, through instilling in them the fear and love of God. There must like wis e be a campaign to rekindle spirituality among our people, with the f u l l p a r t i c i p at i o n a n d e n c o u r a g e m e nt o f t h e Duterte government. We must derive inspiration, as starters, from the Supreme C our t’s requirement of reciting an ec umenical prayer in all courts throughout the countr y b e f o r e a ny h e a r i n g i s conducted. Then we must pro c e e d t ow ard s Bi bl e studies conducted by churches or religious groups among t he i r me mb e rs .

Change coming f rom a God-filled heart and mind

K akampi

Mo A ng Batas

Atty. Batas Mauricio is the only real change!

-ooo “JESUS” IS THE NAME OF GOD THE FATHER: Isaiah 7:14 and 9:6 of the Bible, when read properly, unerringly tell us of the promise of God that, at the appointed time, He will come to earth in the form of a baby human being.

This baby human being is God Himself. In Matthew 1:22-23, we are told of the fulfillment of this promise of God to come to earth. We are also told by Matthew that, through an angel, God wanted to be called “Jesus”, which means the Savior of sinners.

T h e A n a k ng D iyo s Kadugo Ni Kristo (AND K N K , or t h e C h i l d re n batas/PAGE 10

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CorporateWorld

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BECOMING A BLESSING TO OTHERS: Employees of power producer STEAG State Power Inc. (SPI) turned-over additional funds representing personal contribution to an ongoing company-sponsored school-based feeding program in San Martin, Villanueva, Misamis Oriental. About P90,800 worth of collective contribution were raised during the company-initiated I Care- I Share – Children Nourishment Drive. The activity provided a mechanism for employees’ direct participation in the company’s comprehensive Corporate Social Responsibility (CSR) program. A total of PhP0.43 million has been set aside to benefit 213 malnourished children in the area. San Martin Elem School Principal Teresa Deligencia received the additional contribution on behalf of the recipient children’s parents during a parenting seminar activity organized by SPI.

Aboitiz cleared to acquire stakes in GNPower thermal power plants

A

B OI T I Z Po w er Corporation ( Ab oi t i z Po w e r ) , through its wholly-owned subsidiary Therma Power, Inc. (TPI), has recently secured approval from the Philippine government to acquire indirect partnership interests in GNPower Mariveles Coal Plant Ltd. Co. (GMCP) and GNPower Dinginin Ltd. Co. (GNPD).

TPI’s acquisition bid was approved by the Board of Investments and the Philippine Competition Commission last November 21 and December 19, respectively.

Un d e r t h i s c l e a r e d bid, TPI will hold indirect effective interests held by affiliated investment funds of The Blackstone Group L.P in World Power Holdings, L.P. and Sithe Global Power,

L.P. As a result, TPI will own a 66.1% effective beneficial ow n e r s h i p i nt e r e s t i n GMCP and 40% effective beneficial ownership interest in GNPD. The proposed acquisition consideration is priced approximately at $1.2 billion and will be funded by a combination of internally generated cash and financing from foreign banks.

GMCP is a 604-MW subcritical thermal power

plant, which started operations in 2014, while GNPD is a new project consisting of 2 x 668-MW supercritical thermal power plant, located in Bataan. The first of the GNPD units is currently under construction and is targeting commercial operations in 2019.

We w e l c o m e t h e government’s latest move to clear our planned acquisition of stakes in the GNPower

THE Philippines’ leading carrier Cebu Pacific Air recently received a new Airbus A330-300 aircraft, creating more available seats in time for the holiday peak.

Starting December 20, 2016, CEB said it will be utilizing this aircraft for flights between Manila and Hong Kong, making available over 9,800 available seats per

week. This upgrade reflects a 22% increase compared to the number of seats offered in the previous periods, which then allows CEB to maintain its position as the largest Philippine carrier operating the Philippines – Hong Kong market.

“CEB also takes pride as the only Philippine carrier linking Hong Kong to other

cities in the Philippines, such as Cebu, Clark and Iloilo,” said Atty. JR Mantaring, Vice President for Corporate Affairs of Cebu Pacific.

With this easy connectivity to such hubs, CEB aims to strengthen economic trade and tourism from one of Asia’s largest financial centers to the Philippines.

This new aircraft,

configured with 436 all economy-class seats, will join CEB’s existing fleet of six A330s flying on long haul and selected regional and domestic routes.

CEB continues to m o d e r n i z e it s c u r re nt 58-strong fleet of five Airbus A319, 36 Airbus A320, seven Airbus A330, eight ATR 72cebupac/PAGE 11

thermal power plants, as we consider this an essential strategy in our commitment to securing a balanced energy mix to support the country’s energy security. This is also in line with our target to increase our attributable net sellable capacity to 4,000 MW by 2020. We consider this acquisition very strategic as it gives us immediate earnings from the operating asset and incremental capacity in the

coming years from the plant under construction and its expansion,” said Antonio R. Moraza, AboitizPower President and Chief Operating Officer.

At present, AboitizPower has investments in various thermal and renewable power generating facilities and maintains a balanced mix of energy sources to provide ample and reliable power at competitive rates.

Cebu Pacific gets new A330-300 aircraft SM Prime soft opens 7th mall in China REAL estate conglomerate SM Prime Holdings, Inc. (SM Prime) soft opened on Saturday SM City Tianjin, its seventh mall in China with a gross floor area (GFA) of 565,000 square meters (sqm).

SM City Tianjin joins SM Prime’s China malls portfolio namely SM City Xiamen,

SM City Jinjiang, SM City Chengdu, SM City Suzhou, SM City Chongqing and SM City Zibo, all with a combined GFA of 1.5 million sqm.

“The opening of SM City Tianjin reflects our strong c on f i d e n c e on C h i n a’s economy. This gives SM sm/PAGE 11

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Banking&Finance

BSP exec says FDIs to remain strong A RANKING official of the Bangko Sentral ng Pilipinas (BSP) rem ai n s p o siti ve t h at foreign direct investments (FDIs) will continue to boost the country’s balance of payment (BOP) position.

“I think foreign direct investment will remain s t r o n g ,” B S P D e p u t y Governor Diwa Guinigundo told PNA. This, after the central bank announced on Dec. 16 the cut in the central bank’s balance of payment (BOP) assumption for 2016 to a surplus of $500 million from $2 billion surplus previously due to impact of weak global economy.

Last November, the BOP posted a $1.67 billion deficit, way higher than the $183 million deficit last October and the $141 million deficit in November 2015.

On the other hand FDIs grew year-on-year by 25.3

BSP launches Duterte-signed bank notes T WENT Y-seven million pieces or P8.75 billion worth of new generation currencies (NGCs) signed by President Rodrigo Roa Duterte will be available starting Tuesday this week.

In a briefing, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo said 100 boxes, each with 50,000 pieces, of the P20, P50, P100, P500, and P1,000 bills will be distributed to banks nationwide. bsp/PAGE 11

percent to $4.7 billion as of end-September this year.

The central bank’s policymaking Monetary Board (MB), during its review of the central bank assumptions last November, upgraded its FDI assumption this year to $6.7 billion from the $6.3 billion during the review last May. FDI is among the components of the BOP, which is the summary of a country’s total transaction with the rest of the world.

“As far as FDIs are concerned I think we have more basis for saying that this will really be a good support to the balance of payment surplus,” Guinigundo said.

The central bank official, on the other hand, pointed out that there are other BOP components such as foreign portfolio investment, otherwise called hot money due to the speed it comes in and out of an economy, that

will affect the BOP position.

As of the week ending Dec. 2, 2016, the country posted a $672.73 million net hot money inflow, a reversal from the $473.41 net outflow in the week ending Dec. 4 last year.

The BSP’s hot money assumption this year is a $1.1 billion net outflow.

Last year, hot money posted a $599.69 million net outf low due to the impact of negative external developments.

Guinigundo said hot money is a volatile item because “it is, by its very nature, very mobile.”

“It’s a footloose kind of capital. So if that’s the case any small change in sentiment will be enough to drive them out,” he said.

Another component of BOP, the capital account, where exports and imports are included, is decelerating, with the end-September level

at a surplus of $1.5 billion, lower than year-ago’s $6.2 billion surplus.

The country has been posting current account surpluses at least in the last 10 years due to inflows f rom overs e as Filipino workers (OFWs) but some analysts forecast its slower growth this year as a result of weak exports and higher importation due to increasing domestic demand.

Guinigundo said it was difficult to project where the current account would be by the end of the year but cited that book-to-bill ratio, which is the proportion of orders of manufactured exports received against the amount billed for a certain period, remains on a good level.

As of last October, bookto-bill ratio stood at 0.91, lower than month-ago’s 1.05 but Guinigundo said this was not worrisome and attributed it to corrections on inventory.

PHL posts $1.67-B BOP deficit in November ‘16 THE Philippines posted a higher deficit in its balance of payment position (BOP) in November 2016 at $1.67 billion, the Bangko Sentral ng Pilipinas (BSP) reported Monday.

Data released by the central bank showed that the BOP deficit last November was higher than month-ago’s $183 million deficit and yearago’s $141 million deficit.

In the first 11 months this year, the BOP posted a $206

million deficit, lower than the $500 million surplus based on the latest assumption of the central bank.

Monetary officials have not replied to inquiries regarding the November BOP data.

Earlier, BSP Deputy Diwa Guinigundo traced the cut in the BOP assumption this year to negative external developments.

“I think we need to emphasize that 2016,

especially in the last quarter of the year, has been particularly challenging. There was a lot of unexpected developments in the market, most of which are anticipated but not in terms of the timing as well as the magnitude of those adjustments,” he said.

Other changes in the central bank’s economic assumption this year include the current account surplus, which last May was at $5.8 deficit/PAGE 11

App Challenge Cebu 2016 Globe Telecom, in partnership with Molave Development Foundation, awarded Team Magtutudlog Bisaya, comprised of Jonie Aranzado-Jumamil, Genesis Lagacan, and Vahn Marty Cagalawan, as the Grand Prize winner of App Challenge Cebu 2016 held last December 13, 2016 at the Cebu City Public Library.

The competition was designed to encourage local developers to create educational Android apps that will teach K-3 pupils about reading and writing in Cebuano.

The team bested other teams in a live pitch and prototype demonstration to a panel of esteemed judges: Ms. Michelle Tapia, Ms. Bea Lacson, and Ms. Mara Garcia from Globe Telecom; Ms. Irma Saligumba from Molave Development Foundation; Ms. Irene Pilapil from the Department of Education, and Ms. Tina Amper of TechTalks.ph.

“Amazing, we can’t believe it,” Jonie exclaimed when he and his team won PhP 100,000 in the App Challenge. Aside from the cash prize, the team is supported with supervisory guidance and continued mentorship from Globe Telecom, Molave Development Foundation, and IREX through their Beyond Access program as they continue to build their learning app.

While the team, along with their

university MSU-Iligan Institute of Technology, celebrates their win, they are also looking forward to developing their learning app further in the next few months to come. The app, which will feature familiar games to Cebuano kids, will be an essential digital tool in teaching kids how to read and write in Cebuano. Education stakeholders present at the Pitch & Awarding, including officials from the University of Cebu, the Mayor’s Office, Department of Education, and the Cebu City Library, have commented on how the app will be a welcome addition to the literacy content for the Cebuano community.

At present, a lot of students have minimal-to-no usable material for in-classroom learning or for self-study especially for fundamental skills like mother tongue literacy in K-3, thus, while they are able to speak and to understand their main language or dialect, their reading and writing abilities are limited.

On the other hand, many teachers all over the country are saddled with additional work on content development to compensate for the lack of available good-quality materials instead of being able to focus on improving student outcomes.

Cebuano is among the preidentified major Mother Tongues

for instruction, according to the Department of Education. The language is the second most widely used language, after Tagalog, and is spoken by 21 million Filipinos.

The app is expected to help address the problem by teaching the half-a-million Cebuano children their native alphabet and helping them build their vocabulary, among other things, through various activities.

Learning concepts will focus on colors, numbers, shapes, family members, and/or body parts.

Team MAJA, comprised of Aldrin Navarro, Jay Arnel Bilocura, and Jae Marie Magdadaro, came in as the first runner-up in the App Challenge. Their learning app, when developed, has great potential to be added to the evergrowing body of content for the Cebuano language.

Globe Telecom, along with Manila-based Molave Development Foundation and Washington D.C.based IREX, are closely invested in enriching education through tools, content and technology that advance basic education in the Philippines. The local developer community is very much alive and thriving, and as highlighted through the promising work of budding developers, has great potential to help shape and transform Philippine education for the better.

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wednesday|december 21, 2016

Merry Magical Disney Christmas at SM Lanang Premier Magical surprises are in store at SM Lanang Premier as the world’s leading family entertainment company – Disney – brings for the very first time a “Merry Magical Disney Christmas” in Davao.

SM Lanang Premier’s Atrium has transformed

into a Disney Christmas Village with Mickey and Minnie’s houses, Goofy’s Diner, a giant Mickey’s ears arch and Davao City’s tallest indoor holiday tree decked with hundreds of colorful Disney-inspired decors.

The Merry Magical Disney Christmas at

SM Lanang Premier was recently opened to shoppers with a special guest appearance of Disney’s beloved icon, Mickey Mouse.

It was a well-attended affair with the husband of Mayor Sara Duterte, Atty. Mans Carpio, DOT Asec. Eden Larano-

Atty. Mans Carpio and President Duterte’s grandkids meet and greet Mickey Mouse during the launch.

SM Lanang Premier’s Atrium features the Disney Christmas Village and a 53-ft. Christmas tree with Disney-inspired ornaments.

David, Councilor Al Ryan Alejandre and Japan Consul Tomoko Dodo gracing the event. Davao personalities such as Ikebana Davao’s Arlene Puentespina and Danney Barnett, Angcore’s Toby Ang, Fun Cuts’ Yvonne Soriano and many more

also turned up at the Christmas launch. SM Supermalls Mindanao headed by VP for Operations Oliver Tiu and The Walt Disney Company’s Head for Studio Marketing and Media+ Anna Driz welcomed the guests.

Hundreds of kids and their families enjoyed special Meet and Greet with Mickey Mouse and heartwarming musical performances of SM Little Stars 2015 Grand Winner Annastacia Penny and Davao Girls Choir. disney/PAGE 11

Get the Right Gift for their Adventures!

Christmas season is here once again. For every hard working Filipino, it is the time to spend with family and celebrate the yuletide season. And just as Santa Claus comes bearing gifts, BPI Family Savings Bank Housing Loans does as well.

BPI Family Savings Bank Housing Loans has once again partnered with CDO’s top developers for the 3rd run of the BPI Housing Loan Madness here in the City of Golden Friendship. This event will make the best happen for everyone as BPI Family Housing Loans will grant client the best housing loan deals with guaranteed low rates. The grand Madness opens its doors on December 21 to 23, 2016 at Centrio Mall Activity Center.

This Christmas season is the best time for aspiring home owners and real estate investors as BPI Family Housing Loans presents them a Christmas present, CDO’s top developers, gathered in one roof.

These developers have come on board to provide special deals to potential home buyers.

This year, joining us are: Avida Land Inc., Alveo,

Ayala Land Premier, A Brown Company, Inc., A.V. Pamatong Trading & Construction, Inc., The Loop, Filinvest Land Inc., Johndorf Ventures Corp., Tuscania, Robinsons Homes, Italpinas Development Corp., Davao Joyful Home Realty Corp., Pryce Plaza Corp., Pueblo De Oro Development Corp. and Mediatrix Homes.

We also have Rock & Style Builders, BPI M/S Insurance and BPI Asset Management.

With all these developers in one roof, it will be very convenient for Kagayanons to choose which real estate property is most suitable for them. The Housing Loan team will be there to assist clients with their concerns and even provide on site evaluation for clients.

Aside from convenience and ease provided to its valued customers, BPI Family Housing Loans will provide special rates and even discounted bank fees.

Indeed Christmas is the best time for families, and with the BPI Housing Loan Madness, families will surely find the best deals for them in getting that dream home!

As more and more people are discovering the fun and excitement of life outdoors, it appears that the most ideal gifts to give our loved ones are presents that will suit the many adventures they wish to soon embark on.

From relaxed weekend getaways to an itinerary packed trips with the gang, R.O.X., the country’s biggest outdoor concept store, extends a helping hand in the quest to find the right gifts for our loved ones’ next big adventure!

Introducing the R.O.X. Gift Coach, a holiday campaign which seeks to help shoppers find the right gift/s for their loved ones’ adventures! With R.O.X.’s very own pool of outdoor experts - who have mastered the ins and outs of the outdoors - giftgivers are guaranteed to pick out presents that will make their loved ones’ next adventure a truly memorable experience.

The best thing about the R.O.X. Gift Coach? One can easily get in touch with one online.

So how does one exactly enlist the help of the R.O.X. Gift Coach?

Easy! One may simply send a private message to ROX Philippines on Facebook on weekdays, from 11am to 4pm.

From advice about wellsuited gifts for different kinds of adventures

to personalized recommendations based on a person’s favorite outdoor activities, the R.O.X. Gift Coach can certainly cover a wide range of topics.

One may also ask questions regarding outdoor activities as well as the most suitable outdoor products based on different age groups.

Once one has decided on a gift, he or she may have the gift-reserved for up to three days and pay for the gift/s at the store.

Apart from getting in touch with the R.O.X. Gift Coach on Facebook, one may also approach the R.O.X. Gift Coach in all R.O.X. stores daily, from 11am to 9pm.

With the assistance of the R.O.X. Gift Coach, one may easily choose among the wide array of premium adventure and outdoor lifestyle products housed inside the store.

From outdoor lifestyle products that will suit your loved ones’ personality to adventure essentials that will make his or her experience smooth-sailing and hassle-free, finding the right gift/s for your adventure-seeking loved ones just became so much easier with the R.O.X Gift Coach!

You can check out R.O.X. Bonifacio High Street Manila, R.O.X. Solenad 3 Nuvali,

Laguna, R.O.X. Marquee Mall Pampanga, R.O.X. Camp John Hay Baguio, R.O.X. Ayala Cebu, R.O.X. Abreeza Davao, R.O.X. The District Cagayan De Oro, and R.O.X. Ayala Mall Legazpi. You can also follow @roxphilippines

on Facebook for news and updates on your favorite outdoor brands!

R.O.X. is the only store that lets you in so you can get outside!

R.O.X. is owned and operated by the Primer Group of Companies, Asia’s next retail giant.

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wednesday|december 21, 2016

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wednesday|december 21, 2016

Irrigation... from page 1

not only meet the targets in the masterplan and reach beyond.”

Laviña also urged the local governments to settle their debts for irrigation systems with NIA have which accumulated to P10 billion in the past years despite the announcement of “no irrigation fee” policy.

He said the local governments must pay the amount unless Congress decides to clear them of any liabilities.

Laviña said the P2-billion project for next year will suffice to cover the potential loss of revenues with the implementation of the “no irrigation fee” policy.

Another program that NIA will venture into is the construction of mini hydropower generators along irrigation canals to maximize the use of water, he said.

“If that could generate 500 KW that could light up several houses or one village, we will undertake it.

We will maximize the use of our water and help generate renewable energy to help our communities,” he said.

L a s t No v e m b e r 1 5 , Agriculture Secretar y Manny Piñol announced the appointment of Laviña, a former Davao City councilor and spokesperson of the campaign team of then presidential candidate and now President Rodrigo R. Duterte, as NIA head.

Engr. Czar Sulaik was appointed as his deputy administrator for operations.

Laviña served for three terms as city councilor from 2001 to 2010 while Sulaik, who was recommended to head NIA, ser ved as provincial irrigation officer of North Cotabato during Piñol’s time as governor.

“Laviña’s appointment as the new NIA head is a welcome relief for the Department of Agriculture especially since the agency, while officially under the Office of the President, is one of the most important agencies supporting Philippine agriculture,” Piñol said. (Antonio L. Colina IV/ MindaNews)

non-agriculture/industrial/ commercial and retail service employing more than 10 workers, they will enjoy a new wage rate of P340 (P335.00 basic and P5 cost of living allowance) from P317; P335 for workers in agriculture sector (P335 and P5 COLA) from P307; and retail/service employing not more than 10 workers, with P 315.00 (P 310.00 basic and P5COLA) from P286.

“I don’t think the increase will discourage investors to come into Davao Region.

The increase was a product of a tripartite decision – management was part of the decision, labor was part of the decision, and government as well so they will have to factor in the new minimum wage in their investments,” he said. (Antonio L. Colina IV / MindaNews)

Support...

from page 1 said during the recent 2016 National Export Congress.

Ferrer cited innovative packaging to consumers among the keys to boosting the market.

“It’s the way of life for us companies: innovation, innovation, innovation to reduce your cost,” said Crispin Muyrong Jr., Vice President and Co-Owner of Sunlight Foods Corp.

He also proposed the re viva l of pro duc t ivity improvement program of the Employers’ Confederation of the Philippines (ECOP), not ing it g re at ly helps especially for those starting a business.

Juan Miguel Del Rosario, President of Animation Council of the Philippines Inc., cited the major support for marketing it received from the government with its participation in the biggest market for entertainment overseas. “(Also) access to finance is a major component that we need for artists to have access to softwares,” he said.

Apart from access to finance and market, a player in the knowledge process out s ou rc i ng c a l l e d for creating an environment conducive for business.

B u t c h Va l e n z u e l a , President and Chief Executive Officer of Visaya Knowledge Process Outsourcing Corp., from page 1 noted that a conducive The same DOLE 11 report i nv e s t o r e nv i r o n m e nt , showed that unemployment whether in the country or rate was at 6% in the third other countries, is imperative quarter of 2012, 6.9 % in in the growth of the industry.

2013, and 5.6 % in 2014 and 2015 and 3.6% in the same from page 1 period.

“Many of the investments (DILG) in Caraga said his have been focused on the motion for reconsideration Davao Region. If you have was denied and the DILG more investors in the Davao received a directive order on Region, it means that there November 28, 2016 to cause will be more requirement the implementation of the for people to work and that 90-preventive suspension. will help certainly our job The DILG served the seekers find a job that they preventive suspension order need because of the influx of on the mayor on December investments in the region,” 12.

According to the Balais said.

Balais also encouraged DILG letter obtained by companies to comply with MindaNews, Vice-Mayor the new wage rates which Francisco Gonzales was took effect last December designated acting mayor of Dapa effective December 12.

16.

For workers employed by G o n z a l e s i s a m o n g

Jobless...

Suspension...

nine officials – former and incumbent – accused of graft,from the P13-million worth of heavy equipment purchase approved by the municipal Bids and Awards Committee (BAC) despite its exclusion from the municipal Annual Procurement Plan for 2008. The heavy equipment units were also shipped prior the actual BAC procurement proceedings.

In August this year, the prosecution sought the suspension of Ruaya after he was re-elected as mayor.

T h e S a n d i g a n b ay a n granted the prosecution’s request despite Ruaya’s argument that his suspension has no basis.

Ruaya said he could no longer influence or intimidate witnesses because both panels were done marking the pieces of evidence and that prosecution’s key witnesses were already presented.

In a four-page resolution promulgated on September 27, 2016, the Sandiganbayan reiterated that the suspension of a public official facing criminal charges is mandatory under Section 13 of Republic Act 3019 or the Anti Graft and Corrupt Practices Act. “The court trying a case has neither discretion nor duty to determine whether preventive suspension is required to prevent the accused from using his office to intimidate witnesses or frustrate his prosecution or continuing committing malfeasance in office,” the Sandiganbayan noted.

The court found Ruaya’s argument that he could not use his office to intimidate witnesses devoid of merit because the Supreme Court itself has upheld mandatory suspension under RA 3019.

Ruaya was charged with violation of Section 3(e) of RA 3019 by the Office of the Ombudsman in 2011 over the allegedly questionable payment of P13 million to a supplier of heavy equipment in 2008 for the purchase of four dump trucks, one pay loader, and one grader.

According to the case information sheet filed by the Ombudsman with the Sandiganbayan, the p ay me nt w as ma d e by the local government to Six-R Mercantile despite Ruaya’s knowledge that the procurement of the heavy equipment was not included in the approved Annual Procurement Plan (APP) of Dapa in 2008.

The Ombudsman also found that the heavy equipment was shipped and delivered to the municipality before the BAC started procurement proceedings.

According to the O mbu d s m an , t he BAC started procurement activities knowing fully well that there were no funds available for the acquisition of the heavy equipment.

The BAC reportedly also recommended the use of the alternative method of procurement despite the absence of the conditions for a negotiated procurement.

The Sangguniang Bayan was also found to have

authorized Ruaya to contract and conclude an additional loan with the Land Bank of the Philippines to finance the acquisition of heavy equipment and approved the BAC’s recommendation for their purchase.

The Ombudsman said Ruaya gave Six-R Mercantile unwarranted damage and prejudice by approving BAC’s recommendation to resort to negotiated procurement, and negotiating with the contractor without any legislative authorization.

Aside from Mayor Ruaya, also charged by the Ombudsman were members of the Dapa’s Sangguniang Bayan at the time the purchase of heavy equipment was made: Henry Tiu, Kenneth Joel Tiu, Florita Gotico Tesiorna, Francisco Gonzales, Dionisio Ruaya, Renz Jerald Ruaya, Simproso Ranza Jr., Zosima Cuizon and Alicia Durero.

Batas... from page 4

of God Blood Kin of the Christ) Church explains that the prophecies of Isaiah and the statements of the angel that appeared to Joseph in a dream in Matthew 1:18-25 are messages coming from the Father, constituting the Father’s proof that Jesus is God and Savior, and is God the Father, Son, and Holy Spirit.

-ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 H O U R S a d a y, i n t h e Philippines and the world at w w w. f a c e b o o k . c om / angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0917 984 24 68, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

Hurst... from page 4

have. It does not matter what wrongs you have done in your past. Jesus Christ forgives and loves you just the way you are. So won’t you ask Him to forgive you and finally take full charge of your life? He will fill your life with His real love, peace, and power you need to start changing and living His way every day. Just Think a Minute…

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

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wednesday|december 21, 2016

CebuPac... from page 6

500, and two ATR 72-600 aircraft to further expand its route network and frequencies all over the world, according to a company statement.

Recently, the airline announced two new domestic routes from Manila to Masbate and Tablas. With these additions, CEB now offers flights to 38 domestic and 30 international destinations, spanning Asia, Australia, the Middle East, and USA.

SM...

from page 6

Prime a wider perspective on China’s shopping culture, allowing us to capture bigger opportunities as an international integrated property developer,” SM Prime President Jeffrey C. Lim said.

SM Prime continues to expand in China as its consumer spending growth remains to be strong.

From 2000 to 2010, China’s consumption grew f rom around USD 650 billion to USD 1.4 trillion, creating the largest consumer market in the world. China’s c onsu mpt i on has b e e n growing faster than any other country’s in absolute terms.

In the Philippines, SM Prime has 60 malls with the recent opening of SM City East Ortigas in Pasig City last Dec. 2 with a GFA of more than 80,000 sqm; SM Cherry Congressional in Quezon City last Nov. 25 with more than 13,000 sqm in GFA; SM City San Jose Del Monte in Bulacan last April with 101,000 sqm in GFA; and SM City Trece Martires in Cavite last May 2016 with 84,000 sqm in GFA. This brings SM Prime’s combined GFA to 9.1 million sqm both in the Philippines and in China.

Meanwhile, SM Lifestyle and Entertainment Inc. (SMLEI) has introduced its first concept cinema at the Mall of Asia over the weekend.

SMLEI President Edgar Tejerero earlier said the new concept cinemas will be launched in the coming year as part of a massive infrastructure lineup aimed to change the lifestyle of Filipinos.

It will launch next year Café Cinemas, the Children’s C i nema nex t ye ar and interactive and stand-alone cinemas. (PNA)

BSP...

from page 7

The number of P20 bills, on the other hand, was lower with only 40 boxes due to less demand for this denomination, he said.

“With the change over from President (Benigno) Aquino (III) to President Duterte, the signatory to the bank note series starting this year will be President Rodrigo Roa Duterte,” he said.

Duterte’s official term a s t h e c ou nt r y ’s C h i e f Executive started on June 30, 2016.

Guinigundo stressed that the only change in the NGCs, which was launched in December 2010, is the signature of the President, citing that BSP Governor Amando Tetangco Jr. is still the other signatory to the bank notes.

“The design, the size, the dimension, the security features – they are all the same, except the signatory, who is now the president of the republic, President Rodrigo Roa Duterte,” he said.

“Our SPC, this is the Security Printing Complex, will continue to produce this Duterte-signed NGC bank

EXTRA-JUDICIAL SETTLEMENT OF THE ESTATE OF THE DECEASED SPS. PANFILO D. BACACAO AND VICTORIA SORVILLO WITH DEED OF ABSOLUTE SALE Notice is hereby given that the intestate estate of the deceased SPS. Panfilo D. Bacacao and Victoria Sorvillo who died on January 27, 2007 and August 6, 2010, respectively, in kinawe, Libona, Bukidnon; That the deceased, SPS. PANFILO D. BACACAO AND VICTORIA SORVILLO, at the time of their death, are the registered owner of a parcel of land which is more particularly described as follows: ORIGINAL CERTIFICATE OF TITLE NO. EO-4, A PARCEL OF LAND (Lot 2, Psu-10-000850 (OLT) being a portion of situated in the barangay of Kinawe, Municipality of Libona, Province of Bukidnon, Island of Mindanao, Containing an area of FORTY THOUSAND (40,000) square meters, more or less. THE HEIRS OF SPS. PANFILO D. BACACAO AND VICTORIA SORVILLO spouses is the subject of EXTRA-JUDICIAL SETTLEMENT OF THE ESTATE OF THE DECEASED SPS. PANFILO D. BACACAO AND VICTORIA SORVILLO WITH DEED OF ABSOLUTE SALE ; is made and executed by and among, ESTERLITA B. DELADA, of legal age, Filipino, married and a resident of Kinawe, Libona, Bukidnon and the surviving daughter of the deceased spouses; MELECIO S. BACACAO, of legal age, Filipino, married and a resident of Kinawe, Libona, Bukidnon and the surviving son of the deceased spouses; ADELIA B. BISA, of legal age, Filipino, married and a resident of Kinawe, Libona, Bukidnon and the surviving daughter of the deceased spouses; FERDINAND S. BACACAO, of legal age, Filipino, married and a resident of Kinawe, Libona, Bukidnon and the surviving son of the deceased spouses; CHRISTOPHER S. BACACAO, of legal age, Filipino, married and a resident of Kinawe, Libona, Bukidnon and the surviving son of the deceased spouses. That for and in consideration of the sum of ONE HUNDRED FIFTY THOUSAND PESOS (P150,000.00), receipt in full of which is hereby acknowledged from the VENDEE, 1) MARLON M. LAGUISMA, of legal, Filipino, married and a resident of Mandumol, Macasandig, Cagayan de Oro City and 2) ARLYE C. RICABLANCA, of legal age, Filipino, married and a resident of Mandumol, Macasandig, Cagayan de Oro City. I, MELECIO S. BACACAO, do hereby SELL, TRANSFER and CONVEY, to the VENDEE, the portion consisting of ONE THOUSAND FOUR HUNDRED FORTY (1,440) square meters of my share/portion (8,000 sq. m.) of the above-described property including all the improvement found therein. Under Notary Public of ATTY. Mario T. Juni; As per Doc. No. 453; Page No. 91; Book No. 196; Series of 2016.

BWM: December 14, 21 & 28, 2016

notes and we will continue to distribute this not only in NCR but also in areas outside NCR,” he added.

(PNA)

Deficit... from page 7

billion but at $2.5 billion today.

The financial account was slightly revised upwards to $600 million from $500 million earlier.

G ro s s Int e r n at i on a l Reserves (GIR) assumption is now at $83.7 billion from $84.8 billion.

For 2017, the central bank’s BOP assumption is a surplus of $1 billion, the current account is $0.8 billion surplus, capital account is $0.1 billion surplus, and financial account is $1.1 billion surplus.

Disney... from page 8

The event was also a celebration of gift-giving as kid beneficiaries from CSSDO were given presents and the chance to meet Mickey.

Visit and take Instagramworthy photos at the Disney Christmas Village at SM Lanang Premier, which will run until January 8.

Experience the magic of the season and create lasting happy holiday memories with your family at SM Lanang Premier. For event updates, visit SM Lanang Premier’s official account on Facebook, Twitter and Instagram.

Duterte makes pitch for Minda development President Rodrigo Duterte attended Go Negosyo’s Christmas Townhall with the President on Monday, Dec.19 aimed at rallying support for development efforts in Sulu.

In his message, the President reiterated his campaign pledge to fight corruption, drugs and criminality.

On the economic side, the President said he wants to leave it to the economic managers to create the environment where businesses can thrive peacefully with the least intervention of government.

Duterte said that during the election campaign, he was dismayed that no candidate talked about Mindanao. If Mindanao is not handled very carefully, the Philippines will end up being dismembered.

The President told businessmen that he is negotiating with Nur Misuari and with the MILF. “I hope, I said that before the year ends, something concrete and positive will come out,” the President said.

“And ito ang gusto

kong sabihin sa bayan: You have to heed us people, guys from Mindanao because we are telling you the truth, you have to really transform this country.”

The President renewed his initiative with business leaders to push for federalism in the country.

The fact that the Muslims are willing to go federal means that they will accept control of the national government, he noted.

In the spirit of Christmas, Go Negosyo through the KAPATID initiative started the Negosyo Para sa Kapayapaan sa Sulu: Christmas Town hall with the President.

Sulu is part of the Autonomous Region in Muslim Mindanao (ARMM). It’s population of 824,731 is predominantly Muslim Tausug with 125,564 concentrated in the capital Jolo City.

It is the base for the Moro National Liberation Front (MNLF) led by Misuari. However the military is largely pursuing the Abu Sayyaf Group in second district areas.

Negosyo Para sa

Kapayapaan in the province of Sulu is an initiative for the private sector to get involved in supplementing government efforts to establish peace and development in the area.

Among the members of the private sector that committed for Sulu’s development were the Manuel V. Pangilinan group, which pledged development in telecom, hospitals, and coconut mill industry.

San Miguel Corp. made a commitment to build a power plant and to reorganize Sulu’s school of arts and trade. It also promised to create a feed mill supply chain.

The National Book Store also committed to provide school supplies for at least 100,000 school kids in Sulu, while the Department of Agriculture will provide tractors, farm implements and agricultural training.

Other donors are Bounty Fresh Good, Inc., W Group, Kawad Kalinga, Lucio Tan Group, Kapatid Agri Group, and the federation of FilipinoChinese businessmen.

PND

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region Branch 16, Tangub City OFFICE OF THE CLERK OF COURT AND EX-OFFICIO SHERIFF NOTICE OF EXTRA-JUDICIAL SALE EJF-2016-003 Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE REGIONAL TRIAL COURT SHERIFF NOTICE OF EXTRA JUDICCIAL SALE EJF File No. 2016-522 UPON Extra-Judicial Petition for Sale under Act No. 3135 as amended by Act No. 4118, filed by HOME DEVELOPMENT MUTUAL FUND (Pag-IBIG Fund) as Mortgagee/s, against JUMI S. AGUILAR, as Mortgagor/s, with postal address at 223, Market Avenue, San Miguel, Pasig City, to satisfy the mortgage indebtedness of Mortgagor to the Mortgagee in the total amount of NINE HUNDRED FOUR THOUSAND NINE HUNDRED SEVENTY FIVE PESOS and 29/100 (Ph 904,975.29) inclusive of interests and penalty charges, and expenses of foreclosure.

AS OF October 28, 2016, the undersigned Sheriff will sell at public auction on January 12, 2017, at 10:00 in the morning to 4:00 in the afternoon, at the Office of the Clerk of Court, Regional Trial Court, City Tourism Hall, Cagayan de Oro City, to the highest bidder, for Cash or Manager’s Check and in Philippine Currency, the following property described below including all existing improvements found thereon;

Upon extra-judicial petition for sale under Act 3135 as amended by Act 4118 filed by LORENZO TAN MULTI-PURPOSE COOPERATIVE, TANGUB CITY against LORELIE RHONA C. JIMINEZ to satisfy the mortgage indebtedness which as of October 17, 2016 amounts to One Million Three Hundred Fifty Five Thousand Three Hundred Fifty Three Pesos and One Centavo Only (Php 1,355,353.01) excluding interest, attorney’s fees, and other lawful fees for the service of foreclosure, the undersigned Sheriff will sell at public auction on December 27, 2016 at 10:00 o’clock in the morning or soon thereafter at the office of the clerk of Court, Regional Trial Court, Br. 16, Tangub City, to the highest bidder in cash, Philippoine Currency the herein mortgage properties to wit: TAX DECLARATION NO. 108461 and 108461 ‘’A Parcel of Land Lot No. 7-PART, situated at Mantic, Tangub City. Bounded on the N., by 003; on the E., by 002; on The S., by road and on the W., by road. Containing an area of Four Hundred Eight (408) sq. m. more or less and declared Under Tax declaration Numbers 108461 and 108461.’’

TAX DECLARATION NO. 109265 and 89436 ‘’A Parcel of land Lot No. 59-0-2, situated at Migcanaway Tangub City. Bounded on the N., by 016,044 on the E., 3rd South St., 018 on the S., by 018, 056 and on the W., by 016,056.

Containing an Area of One Hundred Eighty Nine (189) sq. m.

More or less and declared under Tax Declaration Numbers 109265 and 89436.’’

TCT No/s. 137-2011002310 A CERTAIN LAND situated in Upper Carmen, Cagayan de Oro City, Lot 13, Block 20, PSD-10-040101, xxx, with an area of One Hundred Twenty (120) sq. m., more or less, including all improvements found thereon.xxx All sealed bids must be submitted to the undersigned on the above stated time and date.

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

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

DONE this 9th day of December, 2016, in the City of Cagayan de Oro.

BWM: December 14, 21 & 28, 2016

(Sgd) ENRIQUE M. TALAG, JR Sheriff IV

All sealed bids must be submitted to the undersigned on the above stated time, date and place of auction sale.

In the event that the public auction should not take place on said date or there is only one bidder, it shall be held on January 3, 2017 at the same time & place without further notice.

Bidders are enjoined to investigate for themselves any encumbrance on the herein property if any there be.

October 26, 2016, at Tangub City, Philippines.

FOR THE EX-OFFICIO SHERIFF: BY:

BWM: December 14, 21 & 28, 2016

(Sgd.) WILLIAM C. ARANIEGO Sheriff IV

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wednesday|december 21, 2016

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