BusinessWeek M I N DA N A O CREDIBLE
Volume X, No. 83
AS OF 6:00 PM DEC. 23, 2019 (MONDAY)
FOREX
X
US$1 = P 50.815
18 cents
PHISIX 7,773.12
X
119.18 points
YOUR MINDANAO-WIDE BUSINESS PAPER
RELIABLE
Briefly
Budget review PRESIDENT Rodrigo Duterte is thoroughly scrutinizing the proposed P4.1-trillion national budget for 2020 which was recently ratified by Congress, Malacañang said. “Pinag-aaralan niya (He’s reviewing it),” Presidential Spokesperson Salvador Panelo said, when asked if the President has already received the proposed 2020 budget ratified by the Senate and the House of Representatives on December 11. Panelo, however, could not say as to when the President will sign the budget spending plan for next year. To avert another scenario of a reenacted budget, senators and congressmen comprising the bicameral conference committee approved on Dec. 11 the final version of the PHP4.1trillion national budget bill for 2020.
City Health building THE DAVAO City Health Office (CHO) will be having its own building with 75% of the construction cost to be covered by the Department of Health (DoH). The city council gave authority last week to Mayor Sara Duterte-Carpio to sign a memorandum of agreement with the national agency for several key projects, including the P60-million CHO building. CHO is currently renting space at a building across the city hall. The other projects include purchase of 16 ambulances, each costing about P2.5 million, and the repair of three health centers with a total budget of P3 million.
IN-DEPTH
P15.00
New air routes to stir Mindanao’s growth www.businessweekmindanao.com
Market Indicators
We strive for Excellence!
Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting
Friday|December 27, 2019
Thank you for trusting us!
By ANTONIO L. COLINA IV, MindaNews
T
HE opening of new international flights connecting Mindanao to other countries in Southeast Asia next year will place the island on the radar of the international investors, Mindanao Development Authority public relations head Adrian Tamayo said. New air routes to put Mindanao on the radar of international investors Tamayo said trade relations of Mindanao with other Southeast Asian countries are expected to strengthen, with the opening of new direct flights Davao City to Manado, Indonesia, and Zamboanga City to Kota Kinabalu, Malaysia on March 31, 2020 by the country’s flag carrier Philippine Airlines (PAL). Garuda Indonesia launched its Manado-Davao-Manado route on September 27 this year, serving twice weekly flights. “Given the institutional mechanisms established and/or facilitated this year, the connectivity projects linking ROUTES/PAGE 11
TOROTOT FOR NEW YEAR. Authorities have called on the public to welcome the New Year without firecrackers to avoid injuries during the revelry. photo courtesy of ffemagazine
Lab for mango exports proposed By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City — A laboratory for determining the chemical residue level on mangoes is being planned for
construction in Davao del Sur as part of preparations to export the fruit to New Zealand initially, and later
to other foreign markets. D e l i a M . Ay a n o , Department of Trade and Industry director for Davao del Sur, said stakeholders have EXPORTS/PAGE 11
Pulse Asia: 93% of Filipinos to welcome 2020 'with hope' By RUTH ABBEY GITA-CARLOS, PNA
CHRISTMAS SYMBOL CAPITAL. Tangub City plaza is illuminated by gigantic light installations and is still touted as the "Christmas Symbol Capital of the Philippines." mindanews file photo
MANILA -- Hope among majority of Filipinos in the coming 2020 remains high,
despite several issues that confronted the country this year, according to the latest
survey released by pollster Pulse Asia on Friday. The Pulse Asia poll, conducted on December 3 HOPE/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776
2
Local
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
Marawi City school gets aid from NGOs
Z
AMBOANGA CITY - Non-profit organizations on Friday donated textbooks and upcycled chairs and tables to Datu Saber Elementary School in Marawi City. Lt. Gen. Cirilito Sobejana, Western Mindanao Command (Westmincom) chief, said Saturday the textbooks and furniture were donated through the “Rebuild Marawi Project,” by the GMA Kapuso Foundation Inc., which teamed up with The Coffee Bean and Tea and Rayomar Outreach Foundation. “The ‘Rebuild Marawi Project’ has bridged access to education and relieved
the plight of the young Maranaoans. The military is privileged to share the journey with the GMAKF,” Sobejana said. Sobejana said he has high hopes that the partnership of the three non-profit organizations will produce more endeavors in the future “as we uphold our genuine commitment to help and reach out to a greater number of people.” Pharida Sansarona, Marawi City School Division superintendent and Datu Saber Elementary School Principal, thanked the three non-profit organizations who donated school supplies and furniture.
The two officials said the donated materials will be of big help to the students of the school. The schools were among the learning
institutions that were affected in the fivemonth battle between government troops and the Islamic State for Iraq and Syria (ISIS)-inspired
Maute group in 2017. Meanwhile, Rikki Escudero-Catibog, GMAKF executive vice president and chief operating officer,
acknowledged the support extended by Westmincom and other partners and sponsors to the rehabilitation project of the GMAKF. (PNA)
LTFRB-Caraga warns PUV drivers:
Don’t snub commuters
BUTUAN City – The Land Transportation Franchising and Regulatory Board in Caraga Region (LTFRB-13) warned drivers of public utility vehicles not to refuse to convey passengers to their destinations especially during the
Yuletide season. The warning is line with the continued implementation of Oplan Isnabero and Oplan Biyaheng Ayos of LTFRB, said LTFRB-13 OIC-regional director Maria Kristina E. Cassion in a statement on Friday. Cassion said public utility drivers are duty-bound to ferry passengers to their respective destinations as public transport providers. “The refusal to perform this duty
constitutes a breach of their franchise conditions,” Cassion added. Cassion said that the full implementation of Oplan Isnabero nationwide was ordered by LTFRB chair Martin B. Delgra III after receiving complaints from passengers that public utility vehicle drivers, especially taxis, are refusing to ferry commuters, especially to traffic-prone areas. LTFRB-13 quoted Delgra as saying: “Let us push drivers and
operators to be the Santa Claus of the millions of commuters this Christmas Season and not be the scrooge in the lives of passengers.” Cassion said she hopes “there will be no occurrence of refusal to convey passengers here in Caraga, especially for taxi services, as it is relatively new in Caraga and might cause passengers to be turned off from availing of the services." She also reminded drivers and operators against the overcharging of fares, noting that they should only charge fare based on the fare matrix displayed inside their vehicles or, in the case of taxis, the fare printouts. “These violations are considered a breach of franchise conditions and have the corresponding penalty of a fine amounting to P5,000 each for the first offense, P10,000 each and 1-month impoundment of the unit involved for the second offense, and PHP15,000 each and suspension or revocation of franchise for the third and subsequent offenses,” she said. Cassion said LTFRB-13 wants to cultivate a culture where drivers are all courteous, law-abiding, and service-oriented in the region. She also encouraged commuters to give LTFRB-13 feedbacks on their travel experiences through their hotline 09431332966. (PNA)
3 Lucio Tan’s grandson takes Packwell subsidiary’s Davao plant key roles in business empire to partly replace China operations Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
TAIPAN Lucio Tan has appointed his 27-year-old grandson and namesake Lucio Tan III to key positions in Philippine Airlines, LT Group Inc. (LTG), and Tanduay Distillers Inc. (TDI) after the sudden passing of Lucio Tan, Jr. LTG disclosed to the Philippine Stock Exchange that the Boards of Directors of LTG and TDI has approved the election of Lucio C. Tan, III as Director of LTG, filling up the position vacated by the passing of his father, Lucio K. Tan, Jr. The younger Tan was also appointed Director, President and Chief Operating Officer of TDI to fill up the position vacated by the passing of his father. In a separate disclosure, PAL Holdings Inc. said Lucio III was appointed as Director of PAL Holdings, MacroAsia Corporation, Philippine Airlines, Inc., and Air Philippines Corporation to fill up the position vacated by the passing of his father. Tan graduated summa cum laude from Stanford University ROLES/PAGE 11
P
CorporateWorld
By CARMELITO Q. FRANCISCO, Correspondent
ANABO City — NP Changs, Inc., the Philippine subsidiary of Japanbased Packwell, Inc., will start moving some of its China operations to Panabo City, Davao del Norte next year with the expected completion of its manufacturing plant at the Anflo Industrial Estate (AIE). “The cost (of running a plant in China) is getting higher and higher,” Anqi Chang, NP Changs
sales director, said at the sidelines of the project groundbreaking ceremony last week. She added that there is a possibility in the future that the entire China operations will be transferred in Panabo, where the company is investing P1.3 billion. Japan-based Packwell makes packaging products, mainly for luxury items such as Godiva gourmet chocolates, with an output of about 20 million various
boxes annually, according to Ms. Chang. The local subsidiary is setting up a plant on a 1.6-hectare lot within the 63-hectare AIE owned by Anflo Industrial Estate Corp. and managed by Damosa Land, Inc. (DLI). DLI First VicePresident Ricardo F. Lagdameo said with NP Changs and 13 other locators, AIE is slowly helping boost Davao Region’s manufacturing sector. “This is a welcome development because
PSALM moves to feasibility study on redevelopment of NPC complex STATE-run Power Sector Assets and Liabilities Management Corporation (PSALM) is set to award the consultancy work on the redevelopment of the National Power Corporation (NPC) complex to multinational service firm PricewaterhouseCoopers. “At the moment, we’re doing post-qualification activities. After that if everything is okay, then
hopefully by December 13, we will be able to issue the notice to proceed to PwC,” PSALM President Irene Joy Garcia has told reporters. She said the feasibility study will have to be anchored on the winning piece of the design contest that the government firm had earlier carried out. “The instruction of the DOF (Department of Finance) is to start now
the process of a feasibility study,” Garcia said, adding that PwC will be given 120 days to complete the process. The cost of the study had been pegged at P5.98 million. PSALM board is chaired by Finance Secretary Carlos Dominguez III, hence, the state-run company generally takes direction from the finance STUDY/PAGE 11
other investors have slowly considered the (industrial) zone as the probable area for their investments,” Mr. Lagdameo said. About 200 workers are expected to be hired at the packaging plant, some of whom will be sent to China for training and become local trainers. Ms. Chang said they already have about 40 Filipino workers in their China plant, who will be given the option to stay or move to the Davao operations. “(Filipino workers)
are very smart, they are fast learners in terms of acquiring new skills,” she said, noting that this was a factor for considering the Philippines as a site for a new plant. Ms. Chang said they are also looking at expanding their customer base to include Philippine companies that have a growing demand for higher quality packaging, especially for export goods. “We hope we will have new customers in PACKWELL/PAGE 11
CLI allots P50-B for housing projects on VisMin properties CEBU Landmasters, Inc. (CLI), the leading housing developer in Visayas and Mindanao, said it has continued to acquire more land in Visayas and Mindanao and will need to invest as much as P50 billion to build projects on these properties. CLI said in a statement that it has expanded its landbank in key cities in the region to 1.2 million square meters, a 36 percent growth from the 2018
figure. The newly acquired properties, which were funded from a combination of internally generated funds and bank financing, will give rise to a range of projects with a projected investment of P50 billion, the company said. “These lots were secured for the development of a mixeduse project in a Cebu City HOUSING/PAGE 11
4
Opinion
The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463-826-272-000 – VAT. Reg., and with Business Permit No. 2017-02942. Tel. Nos.: (088)856-3344, (088) 810-100, 0923432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com
NUTS & BOLTS
DANTE M. SUDARIA President/CEO
ALLAN MARIO MEDIANTE RUFINO T. MAGBANUA
Vice President for Business Development
JOE FELICILDA
Vice President for Administration
JOHN AARON M. DEL BANDO
Vice President for Events and Promotions
JOE PALABAO
Vice President for Marketing
MIKE BAÑOS
Vice President for Digital
NELSON CONSTANTINO Editor-in-Chief
GILBERT Y. CHAO
JUN AYENSA
Motoring Editor
Regional Editor - Caraga
MIKE BAÑOS Contributing Editors
ATTY. ANTONIO S. SORIANO
Feature Editor
2f, ICS Building Tel.No.: 881-0176 Tiano cor. Montalvan sts. Legal Counsel
CLIFFORD SANTILLAN
ATTY. MARIO T. JUNI
CHAINCERLIE SUMALPONG Advertising
Juni Law Office Cruz Taal St., CDO Legal Counsel
JOE PALABAO Layout Artist
DAVAO MARKETING OFFICE Door 223, Doña Segunda Bldg., CM Recto Ave., Davao City Telephone #: (082) 298-8815 Regional Mktg Manager-JOE PALABAO- 0926-8430152 Circulation-JOHN PAUL AQUINO, 0907-331-5640
Member: Philippine Press Institute Oro Chamber
Use it or lose it Think a minute…Have you ever owned something quite valuable and useful, yet you ended up not using it much? There’s a story about a preacher who was talking with the owner of a factory that made soap. The soap maker said to the preacher: “This message about Jesus Christ that you preach cannot be very good, because there are still many bad people around.” The preacher saw a child nearby covered with dirt. So he said to the soap maker: “Your soap cannot be very good, because there are still a lot of dirty people.” The soap maker replied: “Well, my soap can only clean when a person uses it!” The preacher said: “Yes, you’re right. It’s the same way with the Bible and Message about Jesus Christ.” You see, just like soap is not worth having if we don’t actually use it, it’s the same with the Message about Jesus Christ and new life He gives us who ask Him. Unless we then live it every day, it’s useless to us. The Bible is our Maker’s manual to show us how to
JEROME DE LA FUENTE
T h a i l a n d ’s E x c i s e Department and Public Health Ministr y is considering a levy on salty foods in an attempt to tackle the sodium-rich diets of Thai citizens, and the health consequences. The director general of the Excise Department, Patchara Anuntasilpa says
THINK A MINUTE
the tax would be calculated based on the amount of salt in a product, with the prop os a l b eing s ent to Finance Minister Uttama Savanayana by the end of 2019. Fish sauce is a liquid c o n d i m e nt m a d e f ro m fish or krill that have been coated in salt and fermented for up to two years. It is used as a staple seasoning in East Asian cuisine and Southeast Asian cuisine, particularly south east Asia and Taiw an . Fol l ow i ng widespread recognition of its ability to impart a savoury umami flavor to dishes, it has been embraced globally by chefs and home cooks. “If the tax is approved, we will allow entrepreneurs
one or two years to reduce the salt content and launch a less-salty version of their product.” T h e Wo r l d H e a l t h Organisation and the UN both recommend taxing fo o ds w it h a h i g h s a lt content, saying increased sodium intake leads to high blood pressure, cancer and kidney and heart disease. It was reported however, that while the proposal is to levy the tax on frozen and canned foods, along with processed items such as instant noodles, seasoning such as fish sauce and snacks like potato chips would be excluded. The Federation of Thai Indust r i e s has pl e d ge d t o c o o p e r at e w i t h t h e gove r n m e nt’s e f for t t o
i mp rov e t h e h e a l t h o f Thailand’s citizens, but its head Wisit Limluecha says he is not in favour of taxing popular seasonings, snacks, frozen or instant foods. “Research has found that these foods represent only 20% of what we eat each day, and everyone has different eating habits, so the better solution would be to advise consumers on how to eat healthily.” Wisit warns that the tax may damage the country’s competitiveness in the food sector both overseas and in Thailand, where imported products are easily available. He also voices concern that small businesses will suffer if unable to afford ingredient and packaging changes.
The stories behind 87% approval rating of Duterte LETTERS FROM DAVAO
Cell No: 09352379999
MANILA OFFICE: 9th Floor, Unit 918, CityLand Herrera VA Rufino Cor. Valero St., Salcedo Village, Makati City Tel. # : 5555392,Cell No.: 0977-152-8860 LANI VALLIDO-Marketing Manager
FRIDAY|DECEMBER 27, 2019
Fish sauce excluded from Thailand's proposed tax on salty foods
BUSINESSWEEK MINDANAO CORPORATION Publisher
Vice President for Corporate Affairs
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
JUN LEDESMA MONTREUX, Switzerland -I was busy taking snapshots of the idyllic city by the lake and posting these on Facebook for my family group when I saw an item that bannered Pulse Asia last quarter approval rating of Pres. Rodrigo R. Duterte zooming to an all-time-high at 87%. T h re e h ou r s e a r l i e r I s aw Ki ko Pang i l i n an making dire posturing on the guilty verdict on the perpetrators of the gruesome Maguindanao massacre. The nation's verdict of D uter te's p er for mance,
however, argues against Kiko slant and in fact made him look like a stupid fool and the moribund opposition irrelevant and insecure. Duterte and his administration are set to cap the year with grand achievements and in style. Justice which has b een delayed for over a decade under the Gloria M. Arroyo and Benigno Simeon Aquino III is finally concluded with a conviction rendered that would place the conspirators behind bars for life. This is an eloquent demonstration t h at ju s t i c e u n d e r t h e Détente regime is carried out quickly and justly. This, contrary to the claims of the political adversaries of Duterte, the paid hacks among journalists crusading as bearers of truths and pan-handling human rights activists. Another feather in the cap of the Duterte government is the sterling performance of Filipino athletes in the just concluded and well-
managed 30th SEAGames. Not only did the Philippines reign supreme in the games and ended up as the overall champion, the facilities of the games earned praises from the Olympics officials who had recommended the sports venues as sites of some competitions of the 2020 Tokyo Olympics. Already the sports complex in Clark had been eyed by some countries as training grounds for their Olympic athletes. The Philippine economy remains resilient under the stewardship of Finance Sec. Sonny Dominguez resulting in further poverty reduction. There are quarters who are not happy with how President Duterte is treating Ayala and (Manny) Pangilinan over how they wangled a lopsided contract as concessionaires of the Metropolitan Waterworks and Sewerage System. Until the arbitration court in Singapore ruled in favor of the two concessionaires
did the Duterte government discovered how onerous was the agreement. An angry Duterte lost his cool when he learned of the multibillion pesos of people's taxes be paid to compensate Maynilad and Manila water for their operations losses. It turned out too that the water consumers had been paying billions of pesos for ghost sewerage systems. Ayala for one offered to write off the multi-billion-peso claims the arbitration court award them and offered to pay the government the amount instead. The irate President moreover cannot be appeased and demanded that the contract be reviewed and renegotiated and for Ay a l a a n d P a n g i l i n a n should face him and not their subalterns. This should relieve Metro Manilans of obligations to make the rich richer. Duter te has nothing against business but not at the expense of the people. STORIES/PAGE 9
The danger of self-righteousness JHAN TIAFAU HURST live the right, successful way He designed it to work. So we not only must read and understand Jesus’ Message every day, we must follow it every day to start changing and living the satisfying life He plans for us to enjoy. Jesus said that even if we go to church, give money, and pray, but in our heart we’ve not started changing and becoming more like Him in our character, then we don’t really belong to Him and have His new life. For example, if we’re not honest, or we won’t obey Jesus’ command to forgive people who have wronged and hurt us, then we’re proving we do not truly HURST/PAGE 9
This is the irony of ironies. That is when one earnestly pursues the path of holiness and does practically everything to be good and holy, and yet ends up the opposite of what he wants. This is the danger of self-righteousness. That’s when one practically has the trappings of goodness and holiness and yet misses the real root of righteousness who is God. It can be so s elf-deceiving that one becomes fully convinced he is righteous. This was well personified by the Pharisees, scribes and other elders during the time of Christ. They preferred to stick to their own ideas of goodness and holiness, their own laws and traditions, and went all the way not only to be suspicious of Christ, always finding fault in him, but also to finally crucify him.
If one is truly righteous with a righteousness that is a participation of the righteousness of God, then he should include in his idea of goodness and holiness the essential virtues of humility, compassion and mercy. He should have the love that God manifested in Christ, the God made man to offer us the way, truth and the real life meant for us. And that love includes love of one’s enemies. It’s a love that can go all the way to offer one’s life not only for his friends but also for his enemies. Yes, it’s true that Christ said that that there can be no greater love than when a man lays down his life for his friends. (cfr. Jn 15,13) But St. Paul said that “God proves his love for us in this: while we were still sinners, Christ died for us.” (Rom 5,8)
In other words, even if we consider ourselves enemies of God because of our sins, God continues to love us. For God, we are all his friends, his beloved, no matter what the circumstances are. In fact, if we study closely the life of Christ, he shows greater love, attention and concern for those who are far from him than for those who are already with him. This is what we can gather in the parables of the lost sheep, the lost coin and the prodigal son. He is only harsh with those who were self-righteous who, because of their status, should know better but acted wrongly. A self-righteous person is a proud person, always feeling superior to others. He is afflicted with the disorder called perfectionism. He makes himself his own god, his own definer of what is good and bad, moral and
HINTS AND TRACES
ROY CIMAGALA immoral. He can hardly stand people who are not like him. They can know a lot, but unfortunately that knowledge puffs them up rather than makes them more charitable. Their disorder of perfectionism usually makes them ver y strict and fastidious, somehow betraying the scrupulous kind of conscience that they have. Because of that, DANGER/PAGE 9
5
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
Banking&Finance Congress to fast tract bills on rural financing, credit quota for farmers FRIDAY|DECEMBER 27, 2019
Q
UIRINO REPRESENTATIVE Junie E. Cua, who is also the chairman of the House Committee on Banks and Financial Intermediaries, said last week that the panel is targeting the swift passage of House Bill (HB) 5618 or the Rural Agricultural and Fisheries Financing Enhancement System Act next year. “Next year, we want to have this (House Bill 5618) passed. And we want not only for it to pass here but also to pass in the Senate. And eventually be signed by the President,” Mr. Cua said. Under HB 5618, all banking institutions, whether governmentowned or private, must set aside a credit quota or a “minimum mandatory agricultural and fisheries financing requirement of at least twenty-five percent of their total loanable funds,” except newly established banks which have only commenced operations in five years
or less. Compared to the Republic Act 10000 or the Agri-Agra Reform Credit Act, HB 5618 underscores the need to organize and train farmers in cooperatives with professional managers who can access credit financing from banks. According to the bill, the cooperatives will be able to provide “ready, low-interest, and flexible financing” for the needs of the farmers. Complementing HB 5618 are the other priority bills of the committee which seek the mandatory allocation of financial loans to agriculture. These include HB 183 and HB 3437 authored by Deputy Speakers Michael Odylon L. Romero and Maria Rosa Vilma T. Santos-Recto, respectively. HB 183 seeks to mandate the Land Bank of the Philippines (LANDBANK) to “focus on its Charter to allocate sixty percent (60%) of its total loan portfolio
in solely providing support and financing services for farmers and fisherfolk.” “The bill seeks to promote inclusive growth and improve the quality of life in the countryside. It will foster continuity and expansion of responsive financial and support services to all farmers and fisherfolk,” Deputy Speaker Michael L. Romero said in a press release. Meanwhile, Ms. Santos-Recto filed HB 3437 to amend the LANDBANK charter by directing it to “focus on the provision of affordable credit to the agriculture sector where most poor Filipinos belong.” “This bill seeks to restore the original intent for the creation of the Land Bank of the Philippines which is to assist farmers and other agricultural workers and to contribute to the fruition of agricultural development projects” Ms. Santos-Recto said.
debt BSP fine-tunes rules for External service down pawnshops, FX dealers 6% end of Q3 THE central bank has revamped registration rules for pawnshops and foreign exchange dealers as part of efforts against moneylaundering, according to a memo issued by Deputy Governor Chuchi G. Fonacier. The Bangko Sentral ng Pilipinas also ordered these financial institutions to “ensure the soundness and adequacy of their risk management policies and practices in dealing with foreign exchange dealers and remittance and
transfer companies.” Entities that fail to do so will be sanctioned and fined, Ms Fonacier said in the memo. Under the rules, financial institutions should transact only with registered foreign exchange dealers, money changers, remittance and transfer companies. They should also assess risks from dirty money and terrorism-financing, the central bank said. “Inability to comply with relevant customer due diligence measures
is a ground for refusing to open the account, commence business relations or perform the transaction and/or terminating the business relationship,” according to the memo. Australia’s Westpac Banking Corp. was said to have breached money laundering laws more than 23 million times. The bank’s remittance arm, LitePay, had partnered with Bank of the Philippine Islands, which had been indefinitely BSP/PAGE 9
PHILIPPINES’ debt service burden on its external loans dipped six percent year-on-year to $6.085 billion as of end September from $6.474 billion last year, data from the Bangko Sentral ng Pilipinas (BSP) said. The external debt service principal payments also fell 16 percent to $3.743 billion from $4.337 billion same time last year. Interest payments, in the meantime, went up by 14.27 percent to $2.442 billion versus $2.137-billion end-third DOWN/PAGE 9
Bangko Sentral bats for enhanced financial inclusion program THE Bangko Sentral ng Pilipinas (BSP) on Thursday vowed to further widen the scope of its financial inclusion program after it was named as one of the best in the world. Global Microscope 2019, a publication of the Economist Intelligence Unit (EIU), ranked the Philippines as the 5th best among 55 countries worldwide and 1st in Asia, along with India, in terms of top countries that promote financial inclusion. The BSP, on Wednesday, said Global Microscope identified the country’s efforts on five standard categories--
the government stability and support, stability and integrity, products and outlets, consumer protection, and infrastructure. “The country also retained its top standing in credit portfolios for middle- and low-income customers, market-entry, and ongoing requirements for banks,” it said. The publication also noted measures to provide an environment that expand the coverage of digital financial services (DFS), particularly the National Strategy for Financial Inclusion (NSFI), which is under the guidance of the interagency Financial Inclusion
Steering Committee (FISC). Among the programs under NSFI are the national digital ID system, one-stop-shop program for online government services, and the creation of the central bank’s Financial Technology Sub-Sector (FTSS), which focuses on digital financial technology for the underserved. Programs toward addressing cybersecurity, connectivity, and frameworks for emerging services were also recognized. The BSP said these findings “were positive overall, owing to the improved global enabling
environment for financial inclusion.” “The increased adoption of relevant frameworks would encourage the entry of more innovators and external players such as fintechs. The results of the Global Microscope will continue to inform the BSP’s efforts towards achieving financial inclusion and its vision of bringing itself closer to the people,” it said. On Thursday, the central bank said it is “delighted” with the recognition. It said the country’s “top standing in Asia reflects the BSP's thrust of ENHANCED/PAGE 9
OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY
A PUBLIC SERVICE BY:
AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274
METRO BANK- COGON Osmeña Hayes St. Cdoc | 726438/8572057
ASIA UNITED BANK Cor.Camp Alagar Road Lapasan, Cdoc 729678 / 8568893
METRO BANK- CARMEN Max Suniel St. Carmen, Cdoc 8581722/ 8585162
BDO – VELEZ Velez-Rn Abejuela Street, Cdoc 2314246/8572075
METRO BANK- LAPASAN CM Recto Lapasan HW, Cdoc 724461/8561721
BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637
METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924
BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796
METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731
BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405
METRO BANK- GAISANO 8561720
BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN
CM Recto Ave. Lapasan, Cdoc, 8563991/727731
BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819
PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 PLANTERS DEVELOPMENT BANK
Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723
PNB- LKK MALL NORTH CONCOURSE
LKK Mall N.Concourse Cdoc 8574149/8575682
PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.
#58 Tiano FernandezSt.CDO 727215/ 8563552 *805
SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625
EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081
SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632
EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331
STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168
ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999 METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415
UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO
Capistrano Corner CruzTaal St. CDO 8524099/722695
UCPB BANK SAVINGS- OPOL Gf forever Books Bldg.Bulua National CDO 754519/8588063 UNION BANK Lapasan Cm.Recto Cdoc | 8566847/8563805 WEALTHBANK Velez Gomez St. Cdoc | 8568942/722174 1ST VALLEY BANK Vamenta Blvd. CornerLirio St. Carmen, Cdoc 8501871/ 8584146 OROBANKERS CLUB Inc. Pnb Carmen | 09151850242
6
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
One Step Closer:
NEDA ICC-CabCom approves Aboitiz Infracom’s Laguindingan Airport Expansion Proposal
T
By MIKE BAÑOS
HE National Economic Development Authority’s Investment Coordinating Council Cabinet Committee (ICCCabCom) has approved Aboitiz Infracom’s unsolicited proposal to expand the Laguindingan Airport proposal for 35 years in four expansion phases. ‘This is an encouraging development,” said Mylah Faye B. Cariño, NEDA Region 10 Regional Director. “This last hurdle will be the NEDA Board, which will have its meeting in January, 2020.” Once the NEDA Board headed by Pres. Rodrigo Duterte approves the proposal, the next step would to subject the original proposal to a Swiss Challenge. A Swiss challenge is a form of public procurement which requires a public authority (usually an agency of government) which has received an unsolicited bid for a public project (in this instance the expansion of the Laguidingan Airport) to publish the bid and invite third parties to match or better it. Some Swiss challenges also allow the entity which submitted the unsolicited bid to match or better the best bid which comes out of the Swiss challenge process. Regional Gateway Laguindingan Airport is a strategic entry point into Northern Mindanao which has experienced tremendous growth over
the past years and is progressively catching up with the more developed parts of the country. “As a regional airport serving Northern Mindanao and its adjacent regions, CGY/RPMY has been serving six provinces, two highly urbanized cities and five component cities with an average of two million passengers annually for the last three (3) years,” said Ma. Teresa R. Alegrio, Vice President for Mindanao of the Philippine Chamber of Commerce and Industry (PCCI), which has been instrumental in pushing for the airport’s immediate expansion. “Laguindingan Airport has become an important logistic network for over 150 medium to large scale industries including four major thermal power plants, the Agus-Pulangi Hydroelectric Complex. 3 industrial parks, and emerging tourism destinations,” Alegrio noted. “Our proposal to the national government is to run the Laguindingan International Airport including operations, maintenance, rehabilitation, and expansion over a 35 year concession,” said Jose Emmanuel Reverente, VP-Aboitiz InfraCapital, Inc. (AIC) during a presentation at the 28th Mindanao Business Conference held recently in Iligan City.\ In a statement, the firm said the P42.7billion project includes
Aboitiz InfraCapital Vice President for Finance Jose Emmanuel Reverente presents a rendering of their vision for the expanded Laguindingan Airport by 2022 under their P42.7 Bilion unsolicited proposal (RMB)
capacity expansion through new passenger terminals, installation of required equipment, and enhancement and development of airside facilities. “Our plan is to spend initially P4.2 billion pesos to expand the airport; and a total of P43-billion pesos over the concession period half for repairs/capital expenditure and the other half to maintain a high state of readiness of the capital assets,” he added. Immediate Expansion Reverente said the first
phase of their plan calls for the immediate expansion of the terminal building. “It is not in our best interests to construct it over a long period of time. We will want to finish it as soon as possible, so we can have that capacity readily available. We prefer to build it in phases. An integrated PPP approach that allows us to build and operate the airport is the right combination so the P43-billion we would like to invest into the expansion and maintenance,” he said.
Star Builder held its pre-Christmas fashion show recently at Limketkai Center in Cagayan de Oro City. Star Builder Cagayan de Oro showcase the talents and skills of our young aspiring individuals in molding and enchancing a mainstream model in this millenial generation. photo by sluggo reyes
It’s one thing to build the infrastructure but another thing to maintain its operational readiness over the entire concession period, he stressed. Rising Air Traffic When it started operations in 15 June 2013, air passenger traffic at the Cagayan de Oro Lumbia Airport that Laguindingan Airport was designed to replace had already exceeded the 1.6 million design capacity of the new passenger terminal building (PTB). When the passenger traffic exceeded 2 million annual passengers last year, the need for a larger terminal that could accommodate the current and expected passenger volume over the medium term became urgent and critical. On a year-on-year basis alone, the Civil Aviation Authority of the Philippines ( CAAP) figures for the past 10 years show passenger traffic at the Cagayan de Oro Lumbia Airport increasing at an annual rate of 8.7% from 902,133 in 2008 to 2,079,683in 2018 (doubling passenger volume every 8.5 years.) Recent growth in air cargo traffic was even more impressive, soaring 44% from 2017 to 25,366 metric tons (MT). The 11% increase in the number of flights from 2017 to 2018 (17,478 aircraft takeoffs and landings) was mainly responsible for the
meteoric rise in both passenger and cargo movements. The Department of Transportation (DOTr) originally budgeted P400-million (M) for the terminal building expansion, but this was reduced to P180-M, then again halved to P90-M, before being slashed altogether by the Department of Budget and Management (DBM) from the 2019 General Appropriations Act (GAA). However, the business sector lobbied strongly for the restoration of the reduced budget and the P90-M was eventually restored through a Congressional Initiative by Rep. Juliette Uy (2nd District, Misamis Oriental). ”While we appreciate the 90M Congressional Initiative Fund restored by Rep. Juliette Uy, this amount is barely enough to refurbish the dilapidated areas including the poorly designed comfort rooms and malfunctioning elevators,” said Engr. Elpidio M. Paras, president of Promote Northmin Inc. “Government should now fast track the entry of private sector companies to expand and improve all the facilities of Laguindingan so that it can already accommodate direct flights from regional and international destinations, including lengthening the runway NEDA/PAGE 9
7
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
Pamaskong Handog sa Capitolyo brings smiles to Brgy Pigcarangan ABOUT 100 household heads of Barangay Pigcarangan received the gift pack consisting of 10 kilos of rice and 12 cans of tuna from the provincial government's Pamaskong Handog sa Capitolyo, December 18 at Governor Arsenio A. Quibranza Provincial Government Center (Provincial Capitol), Tubod, here. Provincial Governor Imelda ‘Angging’ Quibranza-Dimaporo personally gave grocery items to pre-selected beneficiaries of the said barangay in celebration of the Christmas season.
Dimaporo said the Pamaskong Handog sa Capitolyo is a yearly tradition of the Provincial Government in giving thanks to the people of Barangay Pigcarangan, the home of the Provincial Capitol. Angelita Canubas, speaking on behalf of the recipients, said they are grateful with the unselfish deeds of Governor Angging in continuously finding ways to initiate and implement programs, projects, and activities that will help improve the lives not only of the SMILES/PAGE 9
About 100 household heads of Barangay Pigcarangan receive the gift pack consisting of 10 kilos of rice and 12 cans of tuna from the provincial government's Pamaskong Handog sa Capitolyo, December 18 at Governor Arsenio A. Quibranza Provincial Government Center (Provincial Capitol), Tubod, Lanao del Norte. (PIO LDN)
Mentors, panelists, and guests pose with DTI-10 Regional Director Linda Boniao and DTI Misamis Occidental Provincial Director Jane Marie Tabucan during the 1st Provincial KMME Summit. (DTI-10)
First KMME summit in the region highlights MSME competitiveness
T
HE Department of Trade and Industry (DTI) Misamis Occidental in partnership with the Philippine Center for Entrepreneurship gathered mentee graduates from the 5 batches of Kapatid Mentor ME (KMME) program to gear them up for Micro, Small And Medium Enterprises (MSME) competitiveness during the KMME Summit held last December 5, 2019 at Royal Garden Hotel, Ozamiz City. The summit was intended for the mentees to earn new learnings
and insights to further improve their businesses and to build a great network and strong linkages. DTI-MisOc Provincial Director Jane Marie Tabucan shared that the summit “was realized as a shared aspiration to make growth truly inclusive and felt by the KMME mentees or graduates.” The summit featured 3 sessions that covered governance, digitalization, and access to markets. The first session focused on facilitating the ease of doing business. The session defined the role of government in fostering a convergence
mindset in facilitating the ease of doing business and creating and nurturing entrepreneurs built on a multi-stakeholder approach. The panelists were Oroquieta City Mayor Lemuel Meyrick Acosta; Ozamiz City Administrator, Atty. Daniel Macalino; Provincial Micro, Small And Medium Enterprises Development (MSMED) Council chairperson Elvira Tan; and FilipinoChinese Chamber of Commerce and Industry representative Pershing Tan-Queto, Jr. It was moderated by Michael Amores, Head
Coach of the Local Coaches Circle-Misamis Occidental. The second session, entitled “Driving MSMEs to digital transformation,” invited industry expert Jae-Mar Arenque, Functional Consultant of Highly Succeed Inc. Arenque presented various digital platforms and how it can transform businesses by adding value to the existing products of MSMEs and expand their market share at a reduced cost. The series of sessions ended with Seizing Market Opportunities. The discussion tackled ways SUMMIT/PAGE 9
8
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
CONGRATULATIONS AWARDEES! Best CSR Program:
Transport & Auto Industry Leaders:
Resort Industry Leaders:
CEPALCO STEAG State Power Inc. SM Cagayan de Oro
Pabama Transport Corp, Bukidnon MGM Motors Mindanao, Inc., Davao ISUZU Cagayan de Oro
Dahilayan Adventure Park, Manolo Fortich Club Tara Kampo ni Juan, Bukidnon
Outstanding Cooperatives:
Tourism Industry Leaders:
Agro-Industry Leaders:
ORO INTEGRATED COOPERATIVE, CDO TAGUM COOPERATIVE, Tagum City DEARBCI – Manolo Fortich, Bukidnon
Fantasyland Travel & Tours, Dipolog City Seagull Resort, Davao City Seven-Seas Resort, Cagayan de Oro City
REBISCO, Manollo Fortich, Bukidnon Bounty Fresh Corp., Cag de Oro TADECO (Tagum Agricultural Devt Corporation)
Electric Cooperatives:
Outstanding Women Business Leaders
Micro Entrepreneurs:
Davao del Sur Electric Cooperative, Inc. Davao del Norte Electric Cooperative, Inc. Siargao Electric Cooperative, Inc.(SIARELCO) Outstanding Mega-Entrepreneur: Mags Lopez Calpito Cue Ms. Beverly Dayanan Jalosjos Group of Companies
Ms. Irene Floro, President, Oro Chamber, Ms. Sholai Lim, PWDC chair of Comval Ms. Jacintza Cellona, President of (RIC) Women Association (SIURICWA) Lanao Norte Hotel Industry Leaders: Mallberry Suites Hotel, Cagayan de Oro Hotel Tavern, Surigao Margarette Business Hotel, Bukidnon
Cucina de Oro Pizarella, Cagayan de Oro Necy Ann Ty, Davao City Social Entrepreneurs: Len Cabili, Iligan City Joe Green Project, Davao City Anthill, Davao City
9
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
Hurst... from page 4
know Him personally and have a relationship with Him. S o i f Je s u s’ w r itt e n Manual for our life is not His living Message in our life, then we’re completely wasting the Bible and making it useless to us. So why not start actually using and living the new life Jesus died to give you. Everyday read and obey His Message to you, so you can know that you have His eternal life. If you don’t use it, you’ll lose it—forever. Just Think a Minute…
Danger... from page 4
they often become narrowminded and rigid in their ways. The self-righteous persons are prone to make rash judgments and end up bitter and irritable. It would be no wonder that they feel isolated like an island detached from the continent, and any show of sociability is simply just that, a show, an act, a performance, devoid of the proper substance and spirit. They can profess ardent if not fanatical belief in Christ, but a Christ without the cross. They simply focus on what they consider as the exclusivity of truth without the inclusivity of charity. They prefer ideas and values over persons in their concrete conditions with all their charms as well as their warts. They usually follow a certain game plan, otherwise things are not considered right. They are closedminded and have low level of tolerance when plans are changed or unforeseen events happen. They abhor surprises. Because of all this, they often end up anxious since they know they cannot control everything.
Stories... from page 4
infused to the treasury The government build, build, build program has resulted in the completion of many infrastructure programs contributing immensely to the movement of goods from production sites to domestic and international markets. Congress has approved the 2020 budget and government expenditures will further boost the economy. We s ee no let-up in the war against drugs. On the other hand, while the Duterte has given a leeway for the resumption of peace talks with the New Peoples Army it is now prepared more than ever to deal with the insurgents with the new fighting machines it has acquired recently. Given all these accomplishments and prospects, 87% is definitely well deserved.
BSP...
from page 5
suspended after the news. So far, initial investigation by BPI found that 10 local banks had received money channeled through BPI, a c c ord i n g t o a re p or t submitted to BSP. The funds involved were of small value and below the minimum required to be flagged and looked into under the country’s regulations, Ms. Fonacier told reporters on Friday. The central bank probe might continue up to January because of the holidays, she added. Under the Anti-Money Laundering Act, covered cash transactions worth more than P500,000 must be flagged and scrutibnized.
Enhanced... from page 5
promoting the adoption of financial services through compelling use cases for digital payments.” “We are especially proud of this recognition as it provides an impetus for us to further deepen the foundations of financial inclusion through digital means in 2020, with the overall goal of providing transactions that are relevant an d v a lu a b l e t o m any Filipinos,” it added. (PNA)
ABS CBN is seeing the end of the rope in March. The only way to avert the nonrenewal of its franchise is for the Lopez empire to settle its debt with DBP which was written off by the Aquino administration and to return the money he paid from page 5 the network for his political quarter in 2018. advertisement which the The BSP earlier reported Network giant never aired. the country’s total external If D ute r te has b e e n debt stock of $82.7 billion cleansing the government which was up 8.2 percent bure aucrac y of hung r y year-on-year from $76.4 d e t e r g e n t s t h a t h a d billion in the previous year. e n r i c h e d t h e m s e l v e s BSP Governor Benjamin through corruption, that E. Diokno said external does not mean that private debt was higher due to net enterprises will be allowed availments amounting to to cheat on the people. The $5 billion, foreign exchange President had sent signals to (FX) revaluation adjustments the Court for just last week it of $1.2 billion, and prior hinted it will order Meralco periods’ adjustments worth to return billions of pesos $812 million. for collections allegedly Public sector external illegally collected. Did I debt was at $42.5 billion hear Secretary Dominguez as of end-September from saying that his high school $42.3 billion as of end-June. classmate is his best tax The private or corporate collector? sector borrowed $40.2 billion We expect billions of during the quarter, more than t a xe s w i l l b e col l e c te d $39 billion in the previous from the likes of Ayala and quarter. Pangilinan and this will be Diokno said the external
Down...
debt to GDP ratio which was 23.7 percent means that the Philippines continue to have “sustained (and a) strong position” to pay for its foreign loans in the medium to long-term. The GDP ratio is only slightly higher than same time last year of 23.5 percent. External debt to gross national income, on the other hand, improved to 19.7 percent from 19.9 percent in 2018. The country’s debt service ratio as it relates to debt service burden is a measure of adequacy of the country’s FX earnings to meet maturing obligations. External debt service burden represents principal and interest payments but does not include prepayments on future loan maturities. The principal and interest p ayments are on f ixe d medium to long-term credits, loans and new money facilities. Interest payments also include fixed and revolving short-term liabilities of both banks and non-banks. According to the BSP, the debt service ratio as of end-September was better at 6.4 percent compared to seven percent same time last year. “The debt service ratio has consistently remained at single-digit levels,” it added.
NEDA... from page 6
to meet wide body jet aircraft,” he added. Sources at the DOTr said a portion of the P90-M would b e us ed for the Detailed Engineering (DE) of the proposed expanded passenger terminal building. The bidding process for an independent consultant to undertake the DE is now being processed and the contract is expected to be awarded by the latter part of 2019. The balance of the P90-M would be used to rehabilitate dilapidated portions of the terminal building such as the comfort rooms. Even if the original P90-M would already be used up, construction of the new PTB would still continue with the proviso the funds used for this purpose would be reimbursed to the national government by the winning bidder for the Public-Private Partnership (PPP) project to develop and expand the Laguindingan Airport faculties. In a related development, DOTr Sec. Arthur Tugade announced last 15 July the proposed extension of the 2.1 kilometer runway to 2.4 or 2.5 kilometers is proceeding as planned. The P250-M budget for this project is already included in the 2020 National Expenditure Plan (NEP). This was part of the Feasibility Study expansion proposal endorsed by the R e g i on a l D e ve l opm e nt C ouncil for Region 10 (RDC-X) and approved by the NEDA Board in 2014. O n c e t h e e x p an d e d PTB and extended runway are completed as planned within the next two years, Laguindingan Airport would
be able to accommodate true wide body aircraft such as Cebu Pacific’s Airbus A330343 which can accommodate 436 passengers and carry up to 70MT of cargo on each flight. This would also enable Laguindingan Airport to receive long haul international flights from Europe, Asia and the Americas within reach of the A330’s range of 13,430 kilometers or 7,750 nautical miles once international flights are introduced. Air passenger and cargo traffic to Laguindingan is expected to boom in the next 3-5 years as the Metropolization of Cagayan de Oro as the Philippines 4th Metropolitan Center is realized by 2025, covering two cities (Cagayan de Oro/ El Salvador) 11 municipalities in Misamis Oriental and Bukidnon. Six more municipalities may join Metro Cagayan de Oro in the future. Nearby big ticket d e v e l o p m e nt s s u c h a s Ayala Land’s Habini Bay in Laguindingan, the University of Science and Techology’s TechoPark in Alubijid and the imminent construction of integrated steel mills at the Phividec Industrial Estate in Villanueva and Iligan City is expected to further fuel the development boom in the region which accounted for 25% of the P907.2 billion investment projects registered in the Board of Investments (BOI) in 2018, which was the highest in BOI’s 51-year history.
Smiles... from page 7
residents of Barangay Pigcarangan but also to the entire Province of Lanao del Norte. Dimaporo said by next year, the indigent residents of Barangay Pigcarangan who have not received a coupon will be prioritized. The selection of beneficiaries was in coordination between the officials of Barangay Pigcarangan and the Provincial Social Welfare and Development Office. (PIO LDN/PIA10)
Summit... from page 7
of tapping new markets and how branding, social connections, and data science matter in sustaining markets. The panelists for the final session were Clarke Nebrao, chairperson and president of the Association of Laguna Food Processors and mentor of the Philippine Center for Entrepreneurship; Christopher Ursais, store manager of Puregold Ozamiz; Maria Lynetta Rosal, receiving head of Gaisano Ozamiz; and Jungie Hernandez, store manager of Robinsons Ozamiz. It was the first summit held in the province and the region. (DTI-10)
TOP VOLLEYBALL STARS. Two fast-rising volleyball stars from Cagayan de Oro City, Ela Marjanna Raagas and Athena Sophia Abbu, who are now making waves at the University Athletic Association of the Philippines, paid a visit at Mayor Oscar Moreno’s office, December 20, 2019. Raagas won as the “Rookie of the Year” while Abbu won as “2nd Best Middle Blocker” in the UAAP Season 82. cagayan de oro city information office
10
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
11
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
FRIDAY|DECEMBER 27, 2019
Routes... from page 1
Davao and Manado, Zambo and KK, and trade relation ag re ements w it h ot her nations outside Southeast Asia, Mindanao would enjoy better comparative position as an investment destination,” he said on Sunday. He added more opportunities would generate employment and livelihood for Mindanawons. Tamayo said the renewed business interest also came after the rationalization of t h e pro j e c t s u n d e r the “Build, Build, Build” program, a flagship massive infrastructure initiative of the government. “Such rationalization signals investors to pour in investments as they see clearer instruments to invest,” he said. Davao Region “would play a crucial role as the gateway and showcase window for Mindanao,” and would in effect experience an “increase in tourist arrivals and pourin of investments in real estate and properties, and construction industry,” he said. Tamayo said the services sector would remain as key driver of growth in the region. “More trade, business and tourism missions will also be organized next year, with Davao taking central role in most of the missions,” he said. He added the agency under the helm of MinDA chair Manny Piñol will provide trainings for skills and livelihood on halal products and ot he r ag r i c u ltu r a l produce in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) to take advantage of the huge halal market of the Brunei, D ar uss a l am - Ind one s i a Malaysia-Philippines ast ASEAN Growth Area. He s a i d t h e b a r t e r trade facility will enhance Mindanao’s advantage. “Productivity of farms and fishing is expected to improve next year as MinDA partners with LGUs in linking up production areas to various markets. This will mean effective income to farmers and fishermen,” he said.
Exports... from page 1
started drafting the proposal. “ There are groups planning to sell their mangoes abroad, so the proposed laboratory will help them
meet the standards that the international markets will set up,” Ms. Ayano told the media last week. She added that Vicente T. Lao, honorary consul of New Zealand in Mindanao and chair of the Mindanao Business Council, is the project’s point person. Mr. Lao said the facility is still in the planning stage and that New Zealand is helping draft the proposal. “It is still in the planning stage, but I hope this will be realized,” he said. Davao del Sur accounted for over 77% of the 53,355 metric tons of mangoes that the Davao Region produced in 2018, based on Philippine Statistics Authority data. The establishment of a regional mango council was initiated in November during a forum organized by the Mindanao Development Authority (MinDA) to discuss best practices as well as ways to improve crop production. The council aims to link up with other mango groups in Mindanao. The government, through MinDA, earlier signed a three-year co-investment p r o j e c t w i t h t h e Ne w Zealand Embassy and NZ G2G Partnerships Ltd. for mango exports. One of t he proj e c ts under the program is a feasibility study for setting up quality assurance systems for fresh mango to ensure compliance with sanitary and phytosanitary standards.
Hope... from page 1
to 8, found that 93 percent of Filipinos want to welcome 2020 "with hope," higher than the 91 percent registered in December 2018. Only 0.2 percent said they will be facing the new year "without hope," while seven percent were ambivalent on the matter. There has been a notable increase in Metro Manila (95 percent from 92 percent), Visayas (98 percent from 88 percent), Mindanao (95 percent from 89 percent), and Class E (91 percent from 76 percent). Public hopefulness stayed in Class E (93 percent), but fell in Balance Luzon (90 percent from 93 percent) and Class ABC (97 percent from 99 percent). The December poll was conducted when the country was hit by calamities, including this year's strongest typhoon "Tisoy" (Kammuri)
R.A. 9048/RA 10172 Form No. 1 (LCRO) Republic of the Philippines Province of Misamis Oriental Municipality of Manticao -oOoPublication Notice R.A. 10172
and a series of powerful quakes in Mindanao. It was also done at a time the Philippines hosted the 30th Southeast Asian Games on Nov. 30 to Dec. 11. Coming Christmas 'more prosperous' this 2019 The same survey revealed that 48 percent of Filipinos were convinced that this coming Christmas will be "more prosperous" than last year, one percentage point down from 49 percent recorded in December 2018, Pulse Asia noted. Only 11 percent believed that this year's Christmas will be "poorer" than last year, while 41 percent thought it will just be "the same as last year," the poll bared. Those who expect a more prosperous Christmas this year came mostly from Manila (48 percent from 41 percent), Balance Luzon (48 percent from 47 percent), Mindanao (57 percent from 46 percent), and Class ABC (68 percent from 65 percent). However, the number of those expecting a more prosperous Christmas this year declined in Visayas (38 percent from 63 percent) and Class E (35 percent from 37 percent). It was retained in Class D at 49 percent. Pulse Asia interviewed 1,200 adult Filipinos, using an error margin of ±2.8 percentage points at the 95 percent confidence level. Subnational estimates for each of Manila, Balance Luzon, Visayas, and Mindanao have ±5.7 percentage points error margin at 95 percent confidence level. (PNA)
Roles... from page 3
with a double degree in Electrical Engineering and Computer Science. Among other citations, the young Tan obtained the Frederick Emmons Terman Engineering Scholarship award, an annual citation given by Stanford’s School of Engineering to seniors for outstanding academic achievement. PA L Ho l d i n g s a l s o reported the election of John G. Tan as Director to replace his brother Michael G. Tan. John G. Tan was a Director of TDI from 2015 to 2018, Vice President for Operations of Philippine
Airlines, Inc. from 2009 to 2012, and Vice President for Property Management of Landcom Realty Corporation from 1997 to 2008. PAL also appointed the wife of Lucio Sr., Carmen K. Tan, as Vice Chairman;Mark C. Chen as Independent Director, replacing Governor Amando M. Tetangco, Jr.; while Celeste C. Mutuc resigned as Chief Finance Officer of both PAL and Air Philippines.
Packwell... from page 3
the Philippines because for now, we don’t have customers in the Philippines,” she said, citing the local chocolate industry as an example. “I think the chocolate (industry) in the Philippines is getting bigger and bigger and becoming more famous all over the world and it might need better packaging.” Officials of NP Changs, Inc., a subsidiary of Japanbased Packwell, Inc., together with representatives of Anflo Industrial Estate Corp. and the Panabo City government, take part in the ceremonial g roundbre a k ing of t he company’s manufacturing plant on Dec. 19.
Study... from page 3
department on carrying out its functions. When the feasibility study is concluded, the PSALM chief executive emphasized that such will then serve as its basis in coming up with the proposed “privatization plan” for the 5.195-hectare Napocor complex. Initial concept treads on having it aligned for mixeduse development that shall be taking its cue from what was done at the Fort Bonifacio complex in Taguig. PSALM earlier selected W TA D e s i g n S t u d i o’s submission entitled “The East Grid” as the winning conceptual design to be the template in transforming the Diliman property into a commercial center with mixed used high-rise developments. The company said it had given premium to that particular design because of “its multi-dimensional people-oriented concept of developing a new environmentally-friendly
ALLAN'S LECHON
OFFICE OF THE LOCAL CIVIL REGISTRAR NOTICE TO THE PUBLIC
CCE-0069-2019
Date: 16 December 2019
In compliance with Section 5 of R.A. No. 9048/RA 10172, a notice is hereby served to the public that REGYME QUILAB WAPIN has filed with this Office a petition for correction of GENDER from MALE to FEMALE in the birth certificate of REGYME QUILAB WAPIN who was born on 26 JULY 1995 at PAGAWAN, Manticao, Misamis Oriental and whose parents are JERRY BACULIO WAPIN and MARGIE MAGLANGIT QUILAB. Any person adversely affected by said petition may file his written opposition with this Office not later than 15 JANUARY 2020. BWM: December 18 & 27, 2019
DOROTHEO O. LACBAIN, JR. Municipal Civil Registrar
Main: Purok 4 Puerto, Cagayan de Oro City Cell #: 0928-616-4431 / 0905-777-0670 Branch: 31st Nazareth, Cagayan de Oro City Cell #: 0926-594-9540
Free: HALANG-HALANG or DINUGOAN!
Branch: Casinglot, Tagoloan, Misamis Oriental
For orders, please call:
KAG. LOLITA L. WAHING
business center.” In that development prototype, the design was able to integrate “energy efficient systems and innovative and sustainable design ideas;” and at the same time, the entry assimilated pedestrianfriendly spaces. This early, the property is already being lined up for accreditation as an economic zone. Beyond the targeted commercial building-locators in the area, this will also be housing different offices of state-run energy firms and agencies, including that of NPC and the National Transmission Corporation (TransCo).
Housing...
from page 3 business district location, an office project in the same area, a mixed-use development in Mactan anchored by a hotel, and more residential developments in the cities of Davao, Bacolod, Iloilo, Ormoc, Dumaguete and Bohol further expanding the reach of CLI’s popular mid-market and economic brands that have shown very market-leading take-up rates,” CI said. CLI chairman and CEO Jos e S ob erano III s aid t he f ir m’s landb an king activities were driven by the opportunities presented by each local market.
“We only purchase a property if we are certain we have an appropriate project for the site to meet a community’s needs and if we can develop that project in the next two to three years,” Soberano said. Most of the land acquired in 2019 are now fully owned by CLI, but Soberano said 21 percent of these are joint ventures. “[Joint ventures] allow CLI to access high-value sites without requiring from the firm intensive capital outlay. We also benefit from our partners’ expertise and established presence in the new markets,” he further said. To be specific, CLI is teaming up with prominent Iloilo businessman Alfonso Tan, chairman of International Builders Corporation (IBC) for a high-rise multi-tower condominium with retail spaces on a prime corner lot in Iloilo City’s downtown area. CLI is also partnering with fellow Cebuano player AboitizLand to develop a mid-market, mixed-use, multi-tower condominium project in Mandaue City. CLI and Borromeo Brothers, after the success of Latitude Corporate Center, are also launching another joint venture to develop a two-tower residential condominium in a prime Cebu City area.
Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL Office of the Clerk of Court 10th Judicial Region Cagayan de Oro City SHERIFF'S NOTICE OF SALE EJF FILE No. 2019-809 Upon extra-judicial petition for sale under Act 3135 as amended filed by NATIONAL HOME MORTGAGE FINANCE CORPORATION (NHMFC) with principal office address at 104 Amorsolo St., Legaspi Village, Makati City, with branch office at Mezzanine Floor, Consuelo Bldg., Corrales Ave., Cagayan de Oro City against SPS. PRESCO MIJIAS ANUNCIADO & MA. SOCORRO P. ANUNCIADO, with postal address at Crossing Libona, Bukidnon or at Lot 7, Block 1, Villa Trinitas Subd., Bugo, Cagayan de Oro City to satisfy the mortgaged indebtedness which as of October 31, 2019 amounts to ONE MILLION TWO HUNDRED TWENTY EIGHT THOUSAND ONE HUNDRED FORTY THREE PESOS & 30/100 (Php 1,228,143.30) the undersigned sheriff will sell at public auction on JANUARY 14, 2020, at 10:00 o'clock in the morning to 4:00 o'clock in the afternoon or soon thereafter at the Hall of Justice, Goldridge Building, Macapagal Drive, Upper Carmen, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the herein described property thereon, to with: TCT No. T-66127 "A PARCEL OF LAND (Lot 7, Block 1, Psd-10-015679, being a portion of Lot-1-D-2-E-9, (LRC) psd-96900) situated in the Barrio of Bugo, City of Cagayan de Oro, Province of Misamis Oriental, Island of Mindanao, containing an area of One Hundred Thirty (130) square meters, more or less." Prospective buyers/bidders may investigate for themselves the tile of the herein described property and encumbrances thereon, if any there be. All sealed bids must be submitted to the undersigned on the above stated time and date. In the event the auction date falls on a HOLIDAY, it shall be on the next working day without further notice and publication. December 5, 2019, City of Cagayan de Oro. BWM: Dec. 18, 27, 2019 & Jan. 3, 2020
MA. TERESITA QUIBLAT-INSO Sheriff IV
BusinessWeek MINDANAO CREDIBLE
RELIABLE
www.businessweekmindanao.com
FEATURE
IN-DEPTH
Friday|December 27, 2019
12
Filipinos shine at the Shell Smiling Stars Global Awards 2019
F
ILIPINOS are known for their world-class customer service delivered with the brightest smiles. This was proven yet again as Pinoys brought home regional and global awards at Shell’s annual Smiling Stars Awards held recently in Sydney, Australia. This year, Pilipinas Shell raked in worldwide recognition with 4 regional and global awards, bringing in a total of 18 since 2009. The Smiling Stars Global Awards recognizes sales teams, retailers, and service champions for their hard work, resilience, and hospitality on the job. “Our employees are our most important asset,” shares Pilipinas Shell CEO and president Cesar Romero. “We want to sustain this momentum
and continue providing quality products and services through superior customer experience in every Shell station in the country.” The Smiling Stars awards is annually held as part of Shell’s global “People Make the Difference Real” program. This seeks to recognize and reward its Territory, District, and Account executives, retailers, and service station staff for exemplary performance based on volume and store sales performance, cleanliness and maintenance, and customer service. Each year, they undergo a strict selection process to qualify in local, regional, and national categories before finally moving on to the global awards, which is held in dream locations like Rome, Istanbul, Cape Town, Barcelona, Beijing, Paris,
SHELL Smiling Stars Global Awards held recently at Sydney, Australia
Tokyo, New York and quite recently, Dubai. Pilipinas Shell remains competitive in this regard, seeing as how Shell operates in 80 countries worldwide, with 20,000 employees in 45,000 service stations.
Romero expresses his pride and joy at the fact that the Philippines can hold its own on the world stage in terms of excellent service. To do this, Pilipinas Shell provides training sessions to continuously upskill its staff
so they will be up to par with global standards. The Pilipinas Shell winners view this as a milestone and also a challenge to keep improving on their service to live up to their roles as customer
service champions. “Pilipinas Shell believes that service is the core of our organization, and the people are the drivers of this service,” adds Romero. “We are so proud that our employees shine on the global stage, and show the world just what Filipino hospitality, service, and hard work really means.” Pilipinas Shell believes in the culture of excellence in all aspects of its services, as exemplified by the people, and the difference they make in the everyday journeys of Filipinos. Shell Retail is on the lookout for people who can make this difference through its retailer program. Find out how you can be a Shell Retailer by visiting the official Pilipinas Shelll website <shell.com.ph/ joinshelltoday>.