BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
Volume IV, No. 40
Market Indicators As of 5:55 pm Dec. 20, 2013 (Friday)
FOREX
PHISIX
US$1 = P44.50
5,835.13 points
7 cents
X
87.99 points
X
Briefly Letter of authority THE City Council during its regular session Monday presided over by Vice Mayor Caesar Ian Acenas enacted an Ordinance No. 127042013, authorizing City Mayor Oscar Moreno to enter into and sign a Memorandum of Agreement (MOA) with the Department of Trade and Industry. This ordinance seeks to implement DTI’s Philippine Business Registry Project (PBR), under the terms and conditions stipulated in the proposed MOA and subject to the additional condition that the city government’s counterpart will be its existing equipment donated by the USAID for the Business One-Stop Shop (BOSS) project and that the city government will not spend a single centavo for the project. Under the MOA, DTI shall direct and supervise the promotion and development of electronic business registry in the city, among other things. Executive Order No. 587 of 2006, mandates DTI to establish and administer the PBR which will facilitate a seamless transactional environment for business registration and development across the application systems of government agencies such as but not limited to the Securities and Exchange Commission (SEC), DTI, Bureau of Internal Revenue (BIR), Social Security System (SSS) and Philippine Health Insurance Corporation (PhilHealth).
www.businessweekmindanao.com
FREE TV CH. 21 SkyCable Ch. 16 | Global Destiny Ch. 28 Cablelink Ch. 14 | Cignal Ch. 10
Monday - December 23, 2013
P15.00
‘Pablo’ downs M’danao banana exports in 2013
D
By Mindanews
AVAO City – Typhoon Pablo has significantly reduced Mindanao’s banana exports from January to August this year, data from the Pilipino Banana Growers and Exporters Association, Inc. (PBGEA) showed.
Based on the group’s shipment report, exports by member-companies dropped by 231,743 metric tons (MT) to 882,148 MT from January to August 2013 from 1.114 million MT for the same period last year. PBGEA, which groups 31 companies, ships fresh banana products to Japan, Middle East, Korea, China, Hong Kong, New Zealand, Singapore, Russia, United States, Malaysia, Eg ypt,
Indonesia, Thailand, Mongolia and Canada. For this year, Japan was the largest banana market with 66,464 MT shipped there in May alone, valued at P493 million. Only six and seven MT were shipped to Canada and the United States during the period, respectively. Data from the Plant Quarantine Ser vice also showed that Japan remains exports/PAGE 11
FLATTENED BANANAS. Strong winds brought by Typhoon Pablo last year destroy hundreds of hectares of banana plantations in Compostela town, Compostela Valley Province. mindanews photo by ruby thursday more
Power projects boost investment pledges
Tagum tourism TAGUM CITY --- The Provincial Development Council (PDC) of Davao del Norte has proposed some P600-Million worth of tourism-related infrastructure projects to be funded under the last mile access to tourist destination program of the national government. In an interview, Provincial Gov. Rodolfo P. Rosario said the PDC had approved such amount of tourismrelated proposals to be funded by the Department of Tourism (DOT) in partnership with the Department of Public Works and Highways (DPWH). During the year-end meeting of PDC this morning, Del Rosario made a lengthy discussion on tourismrelated infrastructure projects to develop and promote tourist destinations in the province. Among the prime tourist destinations Del Rosario cited were the Bat Cave in the Island Garden City of Samal; the Waterfalls of Panas in the Municipality of New Corella; the highlands of Suaon going towards Gupitan in the Municipality of Kapalong; and zipline in Ata-Manobo area of the Municipality of Talaingod.
12:30 PM - 1:00 PM
SIMBANG GABI. Parishioners get their bibingka and suman after attending the ‘simbang gabi’ mass at the Our Lady Mediatrix of All Graces Cathedral in Kidapawan City. It’s a tradition that after hearing the mass, one has to have bibingka or other kakanin or else the ‘simbang gabi’ experience is not complete. mindanews photo by geonarri solmerano
P-Noy okays P2.265-T 2014 national budget CONSISTENT with the Administration’s tradition of enacting the National Budget on time, President Benigno S. Aquino III signed on Friday the P2.265-trillion 2014 General Appropriations Act (GAA), effectively setting next year’s expenditure program in motion and
instituting a range of public spending reforms that will bring greater efficiency, transparency, accountability, and openness in the budget process. T h e 2 0 1 4 G A A— 1 3 percent or P258.7 billion higher than the current year’s budget/PAGE 11
POWER-sector projects, including the two upcoming coal plants in Misamis Oriental, dominated the list of investment pledges registered with the Board of Investments (BOI) this year. Trade Undersecretary Adrian Cristobal Jr. said that commitments made by investors reached P403.17 billion in 2013, up 12 percent from last year’s P360.35 billion. Registration with the BOI enables the investor to claim various tax and other
perks, including income tax holidays, duty-free capital equipment imports, among others. Of the total amount committed, domestic firms pledged P298.24 billion, four percent higher than last year’s P286.3 billion. Fo r e i g n i nv e s t m e nt pledges accounted for the remaining 26 percent or P104.93 billion, which is 42 percent higher than last year’s P74 billion. Cristobal, who is also BOI managing head, said investors
pledged the most amount for power sector projects, followed by transportation and storage, real estate, mass housing and manufacturing. “We are aiming for more investments. The minimum we want is to sustain this growth. But the challenge that we have in promoting investments is to attract quality investments, the kind of investments that would generate stable and decent jobs for the country,” Cristobal said. power/PAGE 11
Davao inventors seek creation of ‘idea hatchery’ By MindaNews
DAVAO C i t y – L o c a l inventors have asked the city government to build a center that can help develop inventions and research ideas into saleable products. Called an “idea hatchery” by its proponents, the center will serve as a facility where ideas from groups like the academe can be pursued beyond the research phase. Virgilio M. Sangutan,
Davao Inventors Association (DIA) president, said in an interview that the organization had asked the city government for an area. “We’re aiming to help f utu re g r a du ate s f rom universities and colleges in Mindanao create businesses in the region,” Sangutan said. He said the organization had foreseen that in the next 20 years, there will be
a mismatch between jobs and unemployed college graduates who will be living in Davao City, including migrants from Visayas and Luzon. The plan is to make use of locally available raw materials such as coconuts, coir, activated carbon and organic fertilizers. “The facility will be a hatchery of ideas,” Sangutan said, describing the area as an agribusiness processing zone. seek/PAGE 11
Editorial and advertising email : businessdailymindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776
BusinessWeek MINDANAO
2
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
monday - december 23, 2013
No.: 09161714813 (GLOBE)
Economy
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Cheng Ordoñez
Department of Health (DOH) Assistant Secretary Eric Tayag and 2013 Binibining Pilipinas 1st Runner Up Pia Wurtzbach unveil tarpaulins on ‘Iwas Paputok’ Campaign for the Yuletide Season themed, “Maging Ligtas Ngayong Kapaskuhan Mga Biktima ng Kalamidad Handugan” on Friday, Dec.13, at Cubao Elementary School Quezon City. Also in photo (right) are participants/representatives from the Department of Trade and Industry; Department of Education; Department of Interior and Local Government; Metro Manila Development Authority; Philippine National Police; Bureau of fire Protection; Bureau of Customs and EcoWaste Colition.(PNA photos by Johnny D. Guevarra)
New generation coins in the offing MANILA -- The Bangko Sentral ng Pilipinas (BSP) is now studying possible designs for the proposed new generations coins eyed to be issued in 2015 or 2016. BSP Deputy Governor Diwa Guinigundo said the Numismatic Committee will deliberate on the designs until next year and these will be finalized in 2015. “But before we issue the coins it has to be approved by the Governor of the BSP and the President of the Philippines,” he said. The last time the central bank introduced new
generation currencies as in December 2010 when the designs of the P20, P50, P100, P200, P500, and P1,000 were changed. The new bank notes have the same color as their old denomination but have new designs, with the reverse side now featuring a country’s map, famous landmarks and icons. All new generation notes have one side featuring the photo of the featured personality alongside the two logos. One side of the new P20 bill still have the portrait of
former President Manuel Q u e z o n b u t h av e t h e insignia of the Republic of the Philippines and the new logo of the BSP On the other side, the picture of the Malacanang Palace was changed with the picture of the world famous Banaue Rice Terraces, which was declared by the United Nations (UN) as a World Heritage Site; a photo of the palm civets famous for producing one of the world’s most expensive coffee varieties -- Alamid Coffee; and a weave design from the Cordilleras.
The P50 bill still has the photo of former President Sergio Osmeña on one side and the landmark monument known as the “Leyte Landing.” The other side features the Taal Lake, the Giant Trevally locally known as “Maliputo”, and embroidery handcrafted in the province of Batangas. The new P100 billion retains the portrait of former President Manuel Roxas, the Republic’s and the BSP’s logo, a photo of the inauguration of the third Republic in July 4, 1946, and 1949 photo of the Central Bank of the coins/PAGE 10
0917-7154399 088-856-8562/63
www.dahilayanforestpark.com
AMENITIES : ZORBIT * ATV * TREE TOP ADVENTURE BUGGY * BUNGEE * PICNIC GROUNDS PLAYGROUND * CAFE * LUGE * MINI GOLF ROOM ACCOMODATIONS
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
3
www.businessweekmindanao.com
monday - december 23, 2013
BusinessWeek MINDANAO
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Nelson Constantino
C orporateWorld 4 Phoenix Petroleum raises P500M from sale of preferred shares Max’s Restaurant owner acquires Pancake House YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
monday - december 23, 2013
PHOENIX Pet roleum Philippines Inc has raised additional funds through a private placement. In a disclosure to the Philippine Stock Exchange, Phoenix Petroleum said it concluded the sale of P500 million worth of perpetual nonconvertible preferred shares through a private placement with institutional investors. The company raised the amount after issuing 5,000,000 non-voting, non-participating preferred shares at an issue price of P100 each. The shares come with an 8.25 percent per year fixed dividend rate. Dividends on preferred shares are paid ahead of common shares, but the fixed rate bars preferred shareholders from partaking of extra earnings. Proceeds of the sale will be
used to redeem the preferred shares the company issued in 2010 that have a fixed annual dividend rate of 11.25 percent, “resulting in savings for the company of P16.25 million per year,” Phoenix Petroleum said. Raymond Zorilla, Phoenix vice president for external affairs, said the savings that will be generated by the company in turn will help support its expansion. “We plan to put up 100 new stations each year for the next five years,” he said. PentaCapital Investment Corp acted as issue manager and sole underwriter of the fund raising activity. Phoenix Petroleum is the country’s fourth largest fuel retailer with its more than 350 pump outlets, the bulk of which is located in Mindanao.
THE owner of Max’s Restaurant has taken over casual dining chain operator Pancake House Inc (PHI) in a transaction that may set the stage for the stock market entry of “The House That Fried Chicken Built.” In a disclosure to the Philippine Stock Exchange, the Lorenzo-owned PHI said its principal shareholder, Pancake House Holdings Inc (PHHI), will sell its 60.37 percent stake in the listed firm to the Max’s Group at P15 per share, a premium of over six percent to its closing price on Thursday at P14.10 each. The privately-owned Max’s Group is launching a tender offer next month to
acquire the remaining shares of Pancake House held by minority stockholders. The total tender offer price values Pancake House at close to P3.9 billion on a fully diluted basis after the conversion into equity of its remaining outstanding convertible debt. BPI Capital Corp was the exclusive financial advisor to the Max’s Group for the transaction. In selling Pancake House, PHHI chairman Martin
Lorenzo said the Max’s Group submitted a “superior” offer that will “make us sleep better at night.”
He said Max’s offer was among one of many PHI had received, including one max/PAGE 10
AirAsia Zest offers promo fares for new Cebu-Kota Kinabalu flights AIRASIA Zest on Friday said it has started its three times a week flights to Kota Kinabalu, Malaysia from Mactan Cebu International Airport. “With our new Cebu to Kota Kinabalu flights, air transport connectivity between the Queen City of the South and Kota Kinabalu, Malaysia and other parts of the region where many Filipinos are experiencing poor connectivity and high fares will greatly improve,” Joy Caneba, executive vice president and chief operating officer of AirAsia Zest said in a statement. AirAsia Zest is offering promotional all-in-fares from as low as P760 one way until December 29. The travel period is from December 20 this year to February 28 next year. “This is another marvelous achievement and a great development for E ast Malaysia, following the recent celebration of the inaugural flight from Manila to Miri
on December 7, the first ever route operated by any airline in the region,” Aireen Omar, AirAsia Berhad chief executive said. “We are proud with AirAsia Zest--our sister airline--for narrowing the gap between Malaysia and the Philippines, enhancing bilateral ties between the two nations and establishing a closer relationship between both communities,” Omar said. Ai r As i a Z e st s e r ve s domestic destinations such as Kalibo (Boracay), Puerto Princesa (Palawan), Cebu, Davao, Tacloban, Tagbilaran, Iloilo, Bacolod and Cagayan de Oro, as well as international points, including China and South Korea, from its hub in Ninoy Aquino International Airport (NAIA). The carrier operates a fleet of 13 aircraft. Philippines AirAsia (PAA) holds a 49 percent stake in AirAsia Zest after signing an agreement with former promo/PAGE 10
AgriNurture receives P335M infusion from Singaporean firm A SINGAPOREAN asset management firm has lent P335 million to AgriNurture Inc (ANI). In a disclosure to the Philippine Stock Exchange, ANI said Black River Capital Partners Food Fund Holdings pushed through with its capital infusion, subscribing to the local listed firm’s three-year notes, which carry a three percent per annum interest rate. The deal gives Black River the option to convert the note – whether in part or in full – into common shares in ANI at the applicable conversion price that both parties would determine based on the net income before tax.
The Singaporean firm can exercise the option at any time after the second anniversary of the note issuance, and in such tranches as Black River sees fit. Black River, which already owns 28.11 percent of ANI, is a subsidiary of Black River Capital Partners Fund LP, which in turn is managed by Black River Asset Management LLC. US-based conglomerate Cargill owns Black River Asset Management. ANI intends to use the proceeds of the capital infusion for farm development and manufacturing improvements, said the company’s information officer Jennifer Ong.
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Nelson Constantino
Banking&Finance
BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
5
www.businessweekmindanao.com
monday - december 23, 2013
Little insurance coverage for Yolanda as $130B lost worldwide in 2013 disasters GENEVA - Disasters caused global economic losses of about $130 billion (94.5 billion euros) this year, Swiss Re said on Wednesday, but there was little insurance coverage for the deadliest catastrophe, Typhoon Yolanda (Haiyan) in the Philippines. In a preliminary estimate of the impact of natural and man-made disasters, the Zurichbased reinsurance group noted that the economic impact was sharply down from $196 billion in 2012, a year marked by Superstorm Sandy in the United States. But the total loss of life climbed to about 25,000 people from 14,000 in 2012, it said. Last month’s Typhoon Haiyan in the Philippines was the deadliest single disaster, killing more than 7,000 people, Swiss Re noted. But despite the devastation wreaked, insured losses from the typhoon are expected to be modest, it said. It pointed to the low proportion of insurance coverage in the Philippines -- a common issue in developing nations, which are also amongst the globe’s most disaster-prone countries. Swiss Re did not release an estimate for the Philippines, but insurance- and disasterrisk modelers AIR Worldwide recently put the economic losses at $6.5-14.5 billion, and insurance coverage at $300-700 million. The latter figure accounted only for physical damage to insured buildings and their contents, and did not include such areas as losses of crops or business interruption, AIR Worldwide noted. “In many parts of the world, insurance penetration remains low,” Swiss Re’s chief economic Kurt Karl said in a statement. “Together with preventative measures, insurance can lessen the destructive impact and financial burden that large catastrophic events can have on people’s lives. It can also
help accelerate reconstruction efforts, as we have seen in areas where insurance penetration is higher,” he added. The insurance industry is likely to cover about $44 billion of the 2013 disaster losses, Swiss Re said.
It noted that the figure was substantially lower than the $81 billion in payouts last year, largely down to Superstorm Sandy. The costliest single disaster of 2013, both in terms of losses and likely insurance payouts, was the flooding in June that
battered Germany, the Czech Republic and neighboring countries in central Europe. The floods, which claimed two dozen lives, caused economic losses of around $18 billion, with $4.0 billion of that insured, insurance/PAGE 7
BusinessWeek MINDANAO
6
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
monday - december 23, 2013
BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Clifford Santillan
Opinion
World Bank reports on RP’s improved business regulation
DANTE M. SUDARIA Publisher ROSE MARY D. SUDARIA, Ph.D. General Manager
NELSON CONSTANTINO Editor-in-Chief
ALLAN MEDIANTE Executive Editor
Shaun Uy
cHENG oRDOñEZ
Lifestyle Editor
Associate Editor
CLIFFORD SANTILLAN RONALD B. MASTAIL
SHIELA gosanes Advertising
Layout Artists
ATTY. MARIO T. JUNI
Cris diaz mike baños Uriel quilinguing EditorialConsultants
Cell No: 09352379999
Juni Law Office Cruz Taal St., Cag. De Oro City Legal Counsel
The BusinessWeek Mindanao is published by BusinessWeek Mindanao Advertising and Promotions every Friday to Sunday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Department of Trade and Industry (DTI), Region 10 with Certificate No. 00875701, and with Business Permit No. 2013-10946, TIN No. 946396-807 – Non VAT. Tel. Nos.: (088)8578447, 74-5380, 0923-432-0687, 0917-7121424
Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com Member: Philippine Press Institute
The Real Competition
T
THINK
h i n k a m i nut e … D i d you have to comp ete A Minute with someone else to get By Jhan Tiafau Hurst the girl or guy you wanted? Whether we like it or not, competition is part of life. Usually there are other people besides you who want that job, scholarship, business, or title. But some people will stop at nothing to win. Whether it’s lying, cheating, or gossiping and destroying someone’s reputation. Yet when we compete only to win and beat the other person, it not only makes us bad losers, but also bad winners. That kind of competing produces a person with a bad heart and character, with self-centered greed, pride, and envy. An important lesson in life is to learn to compete only against yourself. Then, whether you win or lose against others, you still win! Because all the time and effort you spent to work and improve only makes you a better person who’s closer to reaching your potential. As one guy put it: “Trespassing is okay, if the boundaries you cross are your own!” So when we set good, important goals for ourselves, they work in two ways: we work on them, and they work on us. The real test of your success is whether you’re a better person than you were yesterday? Are your attitudes and character better? Are you a better husband or wife? A better father or mother? A better worker? You know, we can compete and win in our career and making money, but if we lose our good character by being dishonest or hurting and using others, then we’ve lost the real competition and what’s important. The real measure of success is not what you HAVE, but what you ARE as a person. What kind of heart and character do you have? What kind of relationships do you have with other people? If you’ve allowed yourself to compete against others and you’ve done dishonest things or hurt people. Why not ask Jesus to forgive you today and start changing your heart and way of living? Then you can learn to compete only against yourself and win every time! Just Think a Minute …
A Wo r l d B a n k report showing the Philippines posting improved business regulations besting ot her e conom ie s around the world was a grerat jubilation for t he present administration. “We welcome the report of the World Bank’s International Finance Corp., that showed the Philippines recording the biggest i mpr o v e m e nt i n business regulations jumping 30 notches to 108th from 138th among 189 economies across the globe,” C om mu n ic at ion s Secretary Herminio “Sonny” Coloma Jr. said in a statement on Thursday. “We will continue to pursue reforms and policies that will create conditions conducive to the growth and competitiveness of businesses that play
SPECIAL FEATURE BY: DANILO E. DOGUILES
a crucial role in the attainment of inclusive and sustained economic growth.” According to the report, the Philippines made sig n i f ic a nt i mprovements i n the areas of securing construction permits, providing access to credit information and streamlining the process of tax payments. T he Ph i l ippi ne s is among the top 10 economies improving the most in 2012-2013. Other countries include Ukraine, Rwanda, the Russian Federation, Kosovo, Djibouti, Cote d ’ Ivoire, Burundi, the former Yugoslav Republic of Macedonia, and Guatemala. The Doing Business 2014 focuses report on regulations applying to small and medium-
size domestic enterprises in 189 economies and ranks the economies in 11 areas of business regulation – starting a business, dealing with construction permits, get t i ng elec t r icit y, registering properly, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts, and employing workers. Launched in 2002, the Doing Business Project gathers and analyzes comprehensive data to compa re business regulation environments among several economies. The project encourages countries to compete towards more efficient r e g u l a t i on ; of fe r s measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business environment of each country.
BusinessWeek MINDANAO
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
YOUR LOCAL ONLINE BUSINESS PAPER
monday - december 23, 2013
Going Coconuts
Insurance... from page 5
Swiss Re said. Insured losses were nonetheless higher than during the 2002 floods in the same region, which cost the industry $3.0 billion at current prices. The June 2013 disaster ranked as the second most expensive fresh-water flood on record, but still lies a distant second to the 2011 Thailand floods which led to insured claims of over $16
ADVERTISE NOW!!! >>> >>> We have the right newspapers for your target market from Class A-E type readers
BUSINESSWEEK
GROUP OF PUBLICATIONS CONTACT US:
09478935776, (088)856-3344, (08822)72-33-44 Tanleh Bldg., Abellanosa St., Consolacion Cagayan de Oro City, Philippines FOR ADVERTISING INQUIRIES CALL:
PROVINCIAL CAPITOL Bangko Sentral
ng Pilipinas PROVINCIAL CAPITOL
billion, Swiss Re underlined. Europe was also hit by Hailstorm Andreas in Germany and France in July, with insured losses of $3.0 billion. The more recent Windstorm Christian and Windstorm Xavier in central and northern Europe triggered insured losses of around $1.0 billion each. June rains and flooding in the Canadian province of Alberta led to insured losses of $2.0 billion, the highest ever recorded in the country for any
SABAL Hospital
SABAL Hospital
C.M. RECTO Fly-over
Bangko Sentral ng Pilipinas
ABELLANOSA ST., CDO
C.M. RECTO Fly-over
SHELL Station
disaster. There were also heavy rains and floods in Australia, India, China, Indonesia, Southern Africa and Argentina this year. Harsh spring and autumn weather caused severe thunderstorms and deadly tornadoes in the United States, but the 2013 North Atlantic hurricane season was benign, Swiss Re noted. The company is set to release its definitive 2013 disaster data in March.
VISIT US! NOW A BIGGER PLACE TO SERVE YOU BETTER VISIT US! NOW A BIGGER PLACE TO SERVE YOU BETTER
UCCP
ABELLANOSA ST., CDO
CAPISTRANO ST. CAPISTRANO ST.
planting of bananas and TRAVERSING subcontract- the Tourism H i - way By Ped Quiamjot ing. Coconut productions in this area were classified as support backyard industr y to augment farmer’s incomes t hat are also into Durian and Pomelo plantation. Coconut oil productions were once dominated by the provinces of Quezon, Laguna and Misamis Oriental in the 70’s. Industrialization and property development have shifted the balance and reversals of fortune which transformed these former provinces into manufacturing and economic industrial zones with high populated urban cities. Davao the second biggest province in Mindanao which is blessed with a good rainfall and fertile soil have embarked and continued planting the new coco variety when it was introduced by Eduardo Cojuangco during his term as Chairman of the Coconut Producers Association of the Philippines. This variety bear fruits after five years of planting and continues to be productive with more yields per tree thirty five years after. Travel to Digos in the south or Tagum to the east to see the visual harmony of fruit bearing coconuts.
VELEZ STREET VELEZ STREET
URRENT statistics on coconut production have shifted to Davao region as the top contributor to the 15.3 Million metric tons annual exports. The provinces of Davao Occidental, Davao del Sur and Compostela Valley have contributed 9.2 Million metric tons or 60.3 percent of the country’s total coconut export. This allays fear of the business and market sector of the speculative decline of coco oil supply in the domestic and export market as a result of the destruction of coconut trees in areas hit by super typhoon Yolanda last November. The department of Agriculture has records to show that aside from Bananas which produced 9.6 Million metric tons or 81.1 percent of the total Philippines output that delivers an average USD 220 Million export receipts per annum, coconut is still Davao’s top agro product. Since year 2001, harvests from Davao provinces have contributed to the increased coco exports of the Philippines from 11 Million metric tons to the current level. Notwithstanding Typhoon Pablo in 2011 that affected some parts of Davao del Norte, a nontraditional coconut producer province but were into the underground industry of agro forestry and gold mining. Baganga, New Bataan and Cateel the municipalities that looks like a place hit by a nuclear bomb which absorbed the fury of Pablo were in the industry of timber, corn and fishing. While Davao del Norte typhoon stricken areas were into industrial
JULIOST. PACANA ST. JULIO PACANA
C
7
www.businessweekmindanao.com
>>> >>>
MARCOS BRIDGE TO BRGY. CONSOLACION ---->
MARCOS BRIDGE
TO BRGY. CONSOLACION ---->
Church
DANTE - 09177121424
UCCP SHELL Church| 856-3344 | 74-53-80 | 857-8447 StationUS: 72-33-44 CONTACT
www.businessweekmindanao.com
CONTACT US: 72-33-44 | 856-3344 | 74-53-80 | 857-8447
BusinessWeek MINDANAO
8
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
monday - december 23, 2013
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Ronald Mastail
Billboard
Globe Telecom: typhoon damage likely to dampen 4Q revenue growth
T
yphoon Yolanda is likely to dampen revenue growth in the fourth quarter following the extensive devastation in the Visayas region that could affect domestic spending. “Notwithstanding the usual seasonal increase in both SMS and voice traffic during the holiday season, fourth quarter revenues may not be as strong as in prior years due to softer demand for telco services in the affected areas and possible cutbacks in telco-related spending on the part of subscribers as they donate these instead to the relief and rebuilding efforts of the government and private sector,” Globe President & CEO Ernest Cu said. Cu also emphasized that the typhoon damage on the network is not expected to have long-term
negative impact on revenues. “As a utility company, we have made it our priority to restore mobile services in typhoonaffected areas as soon as possible. To date, restoration efforts in the Visayas region is almost complete. But while the recent event could have a side impact on the company’s revenues in the fourth quarter, we see the other market segments continuing to drive growth. Moving into 2014, we expect to sustain the positive momentum we have built over the past three years,” said Cu. In addition to the company’s efforts to restore mobile services in the typhoon-affected areas, the company has so far pledged more than P45 million for various relief and rebuilding operations. The amount includes donations from the company’s employees, partners, and other stakeholders.
BusinessWeek MINDANAO
YOUR LOCAL ONLINE BUSINESS PAPER
9
www.businessweekmindanao.com
monday - december 23, 2013
STEAG PROJECT SKILLS: Villanueva Town Mayor Julio Uy lead the
graduation ceremonies for the 180 Project SKILLS (Knowledge In Life-Long Skills) scholars who recently completed various technical and vocational courses at the Cagayan de Oro Bugo School of Arts and Trade (COBSAT). Aside from completing the training requirements, the graduates were also conferred with the National Competency Certificates (NC2) by the Technical Education and Skills Development Authority (TESDA). Project SKILLS is sponsored by energy-firm STEAG State Power Inc. (SPI) as one of its Corporate Social Responsibility (CSR) Projects. It aims to help develop the skills and capabilities of young people, mostly out of school, and increase their chance of employability. Assisting Mayor Uy in presenting the certificates were (l-r) COBSAT Administrator Dr. Eulogio Sullano Jr, SPI Comrel Manager Ghaye Alegrio, and DepEd-ALS Supervisor Rudy Magdugo.
BusinessWeek MINDANAO
10
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
monday - december 23, 2013
ABELLANOSA Lechon House Coins... from page 2 Corner Magsaysay Abellanosa St., Cag. de Oro City MANAGED BY :
KUYA ABS CDO EAGLES CLUB WE ACCEPT ORDERS: LECHON, HALANG-HALANG or SAMPAINA
FREE DELIVERY WITHIN CITY PROPER Contact:
09353742908 / 09265949729 / 0883091150
Philippines, the charter of which was among the priority bills of Roxas during his stint in the House of Representatives. On the other side is another world-famous landmark -- the Mayon Volcano in Legaspi City, Albay; the world’s largest fish -- whale shark locally known as “butanding”, which is the main attraction of Donsol, Sorsogon; and a detail from a design from an indigenous textile famous in the region -- Abaca. The P200 bill have the Barasoain Church and the oath-taking scene of former President Gloria MacapagalArroyo at the sides of the portrait of Arroyo’s dad former President Diosdado Macapagal and the logo of the Republic and the BSP. Its other side features Bohol’s famous Chocolate Hills, the world’s smallest primates -- the Tarsier; and a highlight of a design handcrafted in the Visayas region. A major change was made in the P500 bill, which now features the portrait of former President Corazon Aquino beside the photo of his now smiling husband -- former Senator Benigno Aquino Jr. It also features the Benigno Aquino Monument on the same side. The other side has the eig ht-k i lometer Puer to Princesa Subterranean River National Park of Palawan, the rare Blue-naped Parrot found in the forests of Palawan and Mindoro, and a design highlight of a woven cloth from Southern Philippines. The P1000 bill still have
the three personalities – former Supreme Court Chief Justice Jose Abad Santos; social worker, educator, women’s right advocate and Girl Scout of the Philippines (GSP) founder Josefa Llanes Escoda; and first Filipino West Point graduate and former Philippine Army Chief of Staff Brig. Gen. Vicente Lim. Their portraits have a photo of the 1998 Philippine independence centennial celebration on the left side of the money and a photo of medal of honor at the right side. The Republic’s insignia and the BSP’s logo are also on the same side with the portraits. The other side of the bill has a photo of the largest pearls in the world -- the South Sea Pearl at the center and at the background is the 130,000-hectare Tubbataha Reef Marine Park in Sulu Sea. At the right side of the money is a highlight of the design for Tinalak or Ikatdyed abaca, which is woven in Mindanao. Monetary officials said the new paper bills have new features that would make it expensive and hard to counterfeit. (PNA)
Max... from page 4
from a foreign entity that had too many legal and other obstacles that would have resulted in Pancake House going private. “ It a l l o w s P a n c a k e H o u s e’s s h a r e h o l d e r s t o re a l i z e , an d c h o o s e to c ont i nu e to re a l i z e, s i g n i f i c a nt v a lu e f rom their investment in Pancake House’s growth over the past 14 years, or continue to venture on with Max’s. It
LOTS FOR SALE! AVAIL OF CHRISTMAS PROMO & SAVE! VERY AFFORDABLE TITLED LOTS COUNTRY LIKE SETTING – 1 KM BEFORE SM BUY ANY SIZE 100 M2 – 5 HECTARES IN HOUSE FINANCING @ 10% DOWN PAYMENT LOW MONTHLY PAYMENTS, FLOOD FREE!
Government rolls out post-typhoon recovery MANILA -- Philippine Pre si d e nt B e ni g no S . Aquino III on Wednesday made clear priorities of rehabilitation in central Philippines ravaged early November by super typhoon Haiyan, locally known as Yolanda. Aquino s aid t hat according to the strategic plan of the Reconstruction Assistance on Yolanda (RAY), his administration will focus on housing, infrastructure, agriculture and fisheries, livelihood and business, and the delivery of health, education and other essential services in the process of reconstruction. In terms of housing, he said that as the Philippine government is constructing bunkhouses to serve as temporar y shelters for families, it is also planning to construct resilient, permanent housing communities in safe zones. “Infrastructure will not just be repaired or rebuilt, but will be bolstered, built to be stronger and able to withstand the onslaught of disasters,” he said. To revive agriculture and fisheries, which employ a large part of Filipinos in central region of Visayas, also puts Pancake House in a better position to continue great experiences to the customers and perform strongly in an increasingly competitive casual dining m arke t ,” s ai d L ore n z o, who led a takeover of the company in 2000. T h e Pa n c a k e Hou s e group operates close to 300 outlets across other restaurant brands, namely, D e n c i o’s , K a b i s e r a n g D encio’s, Ter iya k i B oy, Sizzlin’ Pepper Steak, Le C o e u r D e Fr an c e, T h e Chicken Rice Shop, Maple and Yellow Cab. R ob e r t Trot a , Ma x’s (Ermita) Inc chairman, said his group will focus on building on the combined strengths of the brands. It
Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL CAGAYAN DE ORO CITY
CONTACT NO. 09263922933 MDN: DEC. 17, 2013 – JAN. 16, 2014
NOTICE FOR PUBLICATION Pryce Plaza Hotel Carmen Hill, CDO, Tel. No.722791 to93/858-4537 E-mail:reservations@pryceplaza.ph
---------------------------------
CHANANTHON BED & BREAKFAST CM Recto Avenue, Cagayan de Oro City Tel. #: 856-81-89 / 309-3095 / 231-2103 Email ad : chananthonbb@yahoo.com Room @ P800.00
COMMERCIAL SPACE FOR RENT
CONTACT PERSON: RAYLYN LANTACA
---------------------------------
NEW DAWN PENSIONNE Velez-Macahambus Sts, CDO Tel Nos. 8571776, 721776 email : gchreservation@yahoo.com
In compliance with Section 5 of R.A. No. 9048, a NOTICE is hereby served to the public that LUZVISMINDA BLANCO SIEGA has filed with this Office a petition for the change of first name from MARIA LUZVISMINDA to LUZVISMINDA in the Certificate of Live Birth of MARIA LUZVISMINDA Q. BLANCO who was born on July 29, 1963 in CAGAYAN DE ORO CITY and whose parents are LAMBERTO BLANCO and VIVIANA QUINAL. Any person adversely affected by said petition may file his written opposition with this Office not later than December 23, 2013. (Sgd.) NORMA S. DIPUTADO City Civil Registrar BWM: Dec. 16 & 23, 2013
Aquino said the concerned government agencies will train farmers and fishermen to give them new skills for greater productivity and income diversification. The Aquino administration will also m a ke av ai l abl e c a sh for- work programs, and mechanisms for financing and support for micro, small, and medium enterprises to help those affected Filipinos recover while it works with private partners to attract investments in affected areas, he said. Aquino also assured the deliver y of health, e d u c at i o n a n d o t h e r essential services to remain constant in areas hit by the typhoon. The National Economic and Development Authority of the Philippines said on Wednesday that the country needs 361 billion pesos (8.17 billion U.S. dollars) for the recovery and reconstruction of typhoon-affected areas after Haiyan struck the country on November 8, incurring damage and loss of about 571.1 billion pesos (12.9 billion U.S. dollars). (PNA/Xinhua) will retain Pancake House’s status as a listed company. “We at the Max’s Group are excited by this unique opportunity to bring together excellent resources and strong brands such as Pancake House and Max’s. Both companies share a long history of brand recognition and innovation, customer loyalty and proven track record for expansion. We are also confident that this transaction will reinforce the values of both Pancake House and Max’s in servicing our customers,” Trota said. The acquisition of Pancake Hous e may b e a prelude to t he Max’s Group’s entry in the local bourse, according to market analysts. “This is to take advantage of positive consumer prospects for next year,” said Freya Natividad, investment analyst at Papa Securities. A Filipino heritage brand that started in 1945, Max’s is called “The House That Fried Chicken Built” and has over 150 stores in the Philippines and overseas. It also brought the popular international brands Krispy Kreme and Jamba Juice to the Philippines.
Promo... from page 4
ambassador Alfredo M. Yao, owner of Zest Airways Inc last March. PAA, meawhile, is a joint venture amongst Antonio O. C ojuangco, Michael L. Romero, Marianne Hontiveros, and AirAsia Investment Ltd.
BusinessWeek MINDANAO
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
YOUR LOCAL ONLINE BUSINESS PAPER
monday - december 23, 2013
Exports... from page 1
to be the most significant export market for Mindanao bananas in terms of volume and value. Last December, Typhoon Pablo devastated the bananaproducing provinces of Compostela Valley and Davao Oriental. The typhoon’s damage was estimated at around P37 billion, with P26 billion sustained by the agriculture sector, data from the National Disaster Risk Reduction and Management Council dated December 25, 2012 showed. In Compostela Valley, Governor Arturo Uy had pegged the recovery rate of the banana industry at 70 percent of the damage it sustained. But Uy said that the province would need at least three more years to fully recover in terms of agriculture, infrastructure and shelter. The Land Bank of the Philippines had extended assistance of around P800 million for banana growers in the province. (MindaNews)
Power... from page 1
In t h i s r e g a r d , t h e government is focusing on manufacturing, which last year received P13.79 billion in pledges for just a three percent share of the total. The bulk of the investment commitments went to electricity, gas, steam and air conditioning supply at P268.24 billion or 67 percent of the total; followed by transportation and storage, P67.66 billion; real estate, particularly mass housing, P42.1 billion; and accommodation and food ser vice activities, P4.81 billion. Below is the list of power projects approved by BOI this year: • P 4 5 . 8 0 b i l l i o n Liquified Natural Gas Storage Facility in Bataan of Energy City Philippines Holdings Inc; • P41.23 billon two 150-megawatt coal fired power plant in Bataan of GN Power Limited Co; • P 3 9 . 9 0 b i l l i o n 400-megawatt coal fired power plant in Quezon Province of Pagbilao Energy Corp; • P 3 1 . 9 4 b i l l i o n 405-megawatt coal-fired power plant in Misamis Oriental of FDC Misamis Power Corp; • P25.84 billion two 150-megawatt coal-fired power plants in Davao del Sur of San Miguel Consolidated Power Corp; • P25.51 billion two 150-megawatt coal fire power plant in Bataan of San Miguel Consolidated Power Corp; • P 2 1 . 8 3 b i l l i o n 450-megawatt combined cycle natural gas power plant in Batangas City of First Natgas Power Corp; • P14.55 billion two 50-megawatt coal-fired power plant in Misamis Oriental of
Minergy Coal Corp; and • P 1 1 . 1 8 b i l l i o n expansion of the 70-megawatt solid fuel-fired power plant in Bataan of Petron Corp. As for foreign pledges, the British Virgin Islands topped the list with P45.80 billon, followed by the US, P41.76 billion; the Netherlands, P5.98 billion; South Korea, P2.26 billion; and Australia, P1.82 billion. The 281 BOI-approved investments for this year are expected to generate 37,885 jobs once those projects become fully operational.-InterAksyon
Seek... from page 1
He said that a group of private entrepreneurs had already pledged the use of a 67-hectare area in Catigan, Toril for the proposed facility. “But we’re keeping the names of the donors, pending the presentation to the city government,” he said. Sangutan said the project would help counter the exodus of the country’s inventors who could not get local support for their projects. One inventor alone could produce around 10 ideas, he said. “With factories where the idea can be immediately processed, thousands could already be employed, and the raw materials from farmers are readily available,” he added. City councilor Bonifacio Militar said they had scheduled a committee hearing on the proposal on the second week of January next year. “Inventors have had to set up their factories outside Davao City since we are the only place without an export processing zone,” Sangutan said. To s et up fac tor ies, i nv e nt o r s h a d t o b u y properties in Digos City and Carmen and Panabo City in Davao del Norte where property valuation is lower. Sangutan said the DIA, which has at least 30 members, might ask the Department of Agriculture for support not only in documentary requirements but also in the development of the agricultural products. “The potential yield would be beneficial to the farmer sector,” he said. Militar said that fellow councilors who are members of the committees on science, technology, and trade and industr y had expressed interest in co-sponsoring an ordinance for the government to donate an area for the center. He said the City Engineer’s Office has also been asked to survey other city-owned properties that could be used for the facility. (MindaNews)
Budget... from page 1
budget—is also the country’s first Performance-Informed Budget, a landmark reform initiative that ties an agency’s overall budget to specific standards of performance and
11
www.businessweekmindanao.com
service delivery. “As pioneered by the Aquino administration, the 2014 Performance-Informed Budget draws very clear connections between an agency’s budget and its expected output. With these details so explicitly laid out in next year’s GAA, the public can begin to demand greater accountability and efficiency from our agencies. It’s a reform path that can only lead to deeper citizen engagement and improved public service,” Budget and Management Secretary Florencio “Butch” Abad said. In crafting next year’s budget, the Department of Budget and Management (DBM) worked with all departments and agencies in specifying their respective targets, which are expressed as Performance Information under each agency’s budget in the 2014 GAA. “An agency’s allocation for the entire fiscal year should actually support the accomplishment of its targets, as outlined in its Performance Information in the 2014 GAA. For example, the Bureau of Fire Protection’s budget for next year should allow it to respond to at least 5,185 fire calls in the National Capital Region within 5-7 minutes. Meanwhile, the Department of Education, through the 2014 Performance-Informed Budget, has committed to enroll a total of 12.6 million children in kindergarten and elementary schools nationwide,” Abad explained. The biggest share of the P2.265-trillion 2014 GAA continues to be devoted to Social Services, which will receive P841.8 billion or 37.2 percent of the total national budget. This includes budgetary support to the Administration’s ongoing Conditional Cash Transfer program (P62.6 billion), the construction and repair of public school
classrooms (P44.6 billion), and the National Health Insurance Program (P35.3 billion). Economic Services will also receive ample budgetary support, with P593.1 billion or 26.2 percent already set for it in the 2014 budget. Altogether, this includes a P94.3-billion allocation for paving national roads, P10.7 billion for technical support services that will benefit the country’s farmers, and P5.5 billion for tourism promotion. Meanwhile, the government’s Debt Burden and General Public Services corner 16.7 percent (P377.6 billion) and 16 percent (P362.6 billion) of the budget, respectively. Defense services under the Aquino administration get a 4.0-percent cut from the 2014 GAA, with a budget amounting to P89.5 billion. The Aquino administration has also ramped up its support for disaster preparedness and post-disaster rehabilitation in the 2014 budget, with P13 billion set aside for the Calamity Fund—now dubbed the National Disaster Risk Reduction Management Fund—up by a whopping 73 percent over this year’s P7.5 billion. Another P20 billion has also been allocated to the Rehabilitation and Reconstruction Program, while P80 billion has been channelled toward reconstruction projects under the Unprogrammed Fund. Abad noted that the 2014 GAA is the product of improved citizen engagement in the development of the Administration’s proposed budget, as well as the Aquino government’s ability to respond to the country’s changing needs, in view of President Aquino’s broader socio-economic development program. “We’re not just looking at a GAA that was shaped by the greater expansion of our Bottom-Up Budgeting program,
REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT 10TH JUDICIAL REGION MAMBAJAO, CAMIGUIN In the matter of the Petition for Adoption Of Twin Minors AKEESHA C. MAMADRA and FAYESHA C. MAMADRA,
SPL. PROC. NO. 481 FOR: ADOPTION
ORDER This petition seeks for the adoption of twin minors Akeesha C. Mamadra and Fayesha C. Mamadra by petitioners, Spouses Abubacar Mamadra and Gertrudes B. Mamadra. Finding the petition sufficient in form and substance, the same is hereby given due course. Let the hearing be set on March 31, 2014 at 2:00 o’clock in the afternoon before this Court. At the expense of the petitioners, let this order be published once a Week for three consecutive weeks in a newspaper of general circulation in the Province of Camiguin. The Regional Director of the Department of Social Welfare and Development, Region X, Cagayan de Oro City, is hereby directed to assign a Social Welfare Office to conduct a home and child study on the adopting parent, the natural parent and the child to be adopted. She is also directed to conduct counseling sessions with the biological parent of the child to be adopted. The reports thereof shall be submitted to this Court Sixty ( 60) days from the receipt of this order. Petitioners are directed to make arrangements with the assigned Social Welfare Officer for the Scheduling and incidental expenses in conducting the case study. Let copy of this order and the petition be furnished upon the Local Civil Registrar of Mambajao, Camiguin, the Solicitor General and the Provincial Prosecutor of Camiguin, for their appearance in behalf of the state. SO ORDERED Mambajao, Camiguin, November 20, 2013
BWM: Dec. 10, 17 & 23, 2013
budget is one that responds aptly to the times, one born of fruitful, sincere dialogue between the public and the Aquino administration. For instance, the clamor to abolish PDAF has persisted for decades, and only under this Administration was this call successfully heeded. It is exactly this pattern of citizen engagement that we believe in and aspire to, where Filipinos are further empowered to be our active partners in ensuring governance reform and inclusive growth in the country,” Abad said.
MINUTES OF THE RAFFLING OF MISC.CASE NO. 131 and 132, BY THE RAFFLE COMMITTEE, REGIONAL TRIAL COURT OF MAMBAJAO, CAMIGUIN, 10TH JUDICIAL REGION, BRANCH 28, HELD AT THE COURTROOM OF RTC, BR. 28, HALL OF JUSTICE, MAMBAJAO, CAMIGUIN, ON NOV.26, 2013, AT 2:00 O’CLOCK IN THE AFTERNON.
SPOUSES ABUBACAR MAMADRA and GERTRUDES B. MAMADRA. Petitioners, X------------------------------------------------------/
where we worked with the country’s poorest communities to see how the National Budget could better serve their needs. We’re also looking at a GAA that introduces some groundbreaking changes, not least of which is the abolition of the Priority Development Assistance Fund (PDAF), the beginning of the GAA-asRelease-Document regime, and the unprecedented support for disaster rehabilitation and preparation, especially in the wake of this year’s calamities. “In a very real way, the 2014
(Sgd.) JEOFFRE W. ACEBIDO Acting Presiding Judge
PRESENT: 1. JEOFFRE W. ACEBIDO - Executive Judge Acting Presiding Judge, Branch 28; 2. ALMA L. SABUGA - Clerk of Court VI, Branch 28 3. EUSTANCIA A. VASQUEZ - Court III, RTC, Br. 28 4. PRINCESS S. SILANGAN - Court Stenographer III, RTC, Br. 28 ============================================================ The raffle for the distribution of notice/order for publication to accredited newspaper started at 2:00 o’clock in the afternoon of Tuesday, Nov. 26, 2013 as stated in the notice. The notice was posted on the Bulletin Board of the Hall of Justice, at the main door of the Courtroom of RTC, Br. 28 and at the door of the Office of the Clerk of Court and Staff, and was duly furnished to the accredited newspaper for publication ,Businessweek Mindanao c/o Dante Sudaria, Tanleh Building, Abellanosa St., Cagayan de Oro City and Free Digest, at District 3, Bugnao Drive, Consolation, Cagayan de Oro City. In accordance with the rule requiring the conduct of a raffle, and complying thereof, the Executive Judge conducted personally the raffle with the attendance of Clerk of Court VI, Alma L. Sabuga, Stenographer Princess Silagan, who took down the notes of the proceeding and one Clerk, Eustancia Vasquez. The raffle properly proceeded and was held on the lawyer’s table inside the courtroom. By means of a bingo tambiolo, the Presiding Judge picked up the chip therein to determine which among the two accredited publication newspaper be awarded to undertake the publication of the notice. The bingo chip taken from the tambiolo definitely show that order of publication shall be awarded to Business week Mindanao c/o Dante Sudaria, FICCO Building, Lapasan Highway, Gusa, Cagayan de Oro City for Misc. Case No. 131 and Free Digest, at District 3, Bugnao Drive, Consolation, Cagayan de Oro City for Misc. Case No. 132. The raffle proceeding was finished at 10 minutes past 2:00 o’clock in the afternoon of November 26, 2013. SO ORDERED ============================================================ CERTIFICATION I hereby certify that the foregoing Minutes is true and correct to the best of my ability, kwowledge and belief. (Sgd.) PRINCESS S. SILAGAN (Sgd.) EUSTANCIA A. VASQUEZ Stenographer ( Assisting) Clerk III APPROVED BY: (Sgd.) ALMA L. SABUGA (Sgd.) JEOFFRE W. ACEBIDO Clerk of Court VI Acting Presiding Judge BWM: Dec. 11, 18 & 23, 2013
BusinessWeek MINDANAO
12
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com
monday - december 23, 2013