BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 092
Market Indicators
As of 6:10 pm December 29, 2016 (thursday)
FOREX
PHISIX
US$1 = P49.72
6,840.64
9
X Briefly
cents
64.53
X
points
Trade partnership FINANCE Secretary Carlos Dominguez III said the Duterte administration will look “closely” at the Regional Comprehensive Economic Partnership (RCEP), given its new policy of moving the country swiftly towards economic integration with its fellow-members in the Association of Southeast Asian Nations (ASEAN) and major trade partners in Asia and the Pacific. “I personally would like to look at RCEP closely because that’s the 10 ASEAN countries, I think. That one, we are more open to,” Dominguez said in a recent interview. The RCEP is the proposed 16-nation free trade area comprising the 10 ASEAN member-nations— the Philippines, Malaysia, Singapore, Brunei, Thailand, Indonesia, Laos, Cambodia, Myanmar and Vietnam—and its six trading partners China, South Korea, Australia, India, Japan and New Zealand.
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New scheme eyed in sale of Agus-Pulangui www.businessweekmindanao.com
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By MYRNA M. VELASCO, Contributor
F outright sale would not be an acceptable option, state-run Power Sector Assets and Liabilities Management Corporation (PSALM) is contemplating on having an alternative scheme for the privatization of the Agus-Pulangui hydropower complexes in Mindanao.
“There are several types of privatization models – it could be outright sale, it could just be the service component also; or corporatization,” PSALM Officer-in-Charge Lourdes S. Alzona said. She noted the company “is currently understanding
the details,” primarily of the privatization scheme that they would be proposing to the Department of Energy (DOE) and PSALM Board. Among the privatization options the state-run firm has been studying is the one anchored on a
pending Congressional bill, wherein the Agus-Pulangui assets shall be placed in a ne w government-r un cor p orate ent it y – t he proposed Mindanao Power Corporation. Under that edict, the scheme/PAGE 11
BoI okays P1.36-B renewable energy project in Mindanao
Power demand DAVAO City -- New investments in Davao City will hike power demand in the areas being serviced by the Davao Light and Power Company (DLPC). DLPC assistant vicepresident for engineering Rodger Velasco said this year’s current power demand is pegged at 371 megawatts. This 2017 they are expecting a power demand of 405 megawatts or an increase of 9.2%. Velasco attributes the increase to new investments in the city, one of these is a new steel plant by Mighty Steel in Panacan which will need about 20 megawatts. The incoming DLPC Chief Operations Officer attributes the huge power demand to the steel plant’s furnace which melts scrap iron into new steel.
P15.00
Friday | December 30, 2016
IN SEARCH FOR FOOD. Scavengers rummage through the water lilies in Cagayan de Oro river looking for foods and other valuable items. PHOTO BY GERRY LEE GORIT
NDF says NPA can be tapped to implement socioeconomic reforms By ANTONIO L. COLINA IV, MindaNews
DAVAO City — The New People’s Army, armed wing of the Communist Party of the Philippines, should not be disarmed but should instead be strengthened to assist the government in implementing major socioeconomic reforms, an official of the National Democratic Front said on Monday. In a press conference
dur ing t he CPP’s 48t h anniversary celebration in Paquibato District here, NDF senior adviser Luis Jalandoni said maintaining the NPA [as an armed force] will ensure the protection of socioeconomic reforms, such as in health and education, as well as the rights of the Lumad and the Moro people. “Kapag nagkaroon
ng (once there is a) comprehensive peace agreement, ang NPA will continue to defend the masses in the programs of land reform, national industrialization, environmental protection, and n at i on a l d e fe ns e,” Jalandoni said. “The CPP-NPA can be a co-founder in the “People’s Federal Republic of the Philippines,” he said, adding, reforms/PAGE 11
THE Board of Investments (BoI) has approved the application for registration of a P1.36billion project that will provide renewable energy in Northwest Mindanao. In a statement, BoI said that Liangan Power Corp. will invest in a 11.9-megawatt (MW) project as a renewable energy developer of hydropower energy resources. The project, which will need 44 workers upon start of full operations in early 2019, falls under the Investment Priorities Plan 2014-2016, as mandated by Republic Act No. 9513 or the Renewable Energy Law. Trade Secretary and BoI Managing Head Ramon M. Lopez said that the project is a result of the government’s focus on strengthening ties with China, leading to more Chinese investments here. “This is a concrete manifestation of the emphasis of President [Rodrigo R.] Duterte to attract more Chinese investments in the country,” energy/PAGE 11
REUNITED. A New People’s Army guerrilla belonging Guerilla Front 16 B is reunited with his son (right) who came with friends to visit his father during the 48th anniversary celebration of the Communist Party of the Philippines in Bacuag town in Surigao del Norte. MindaNews photo by Roel N. Catoto
Merry Christmas and a Happy New Year!
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Economy 2 Northern Mindanao agri sector NEDA-X launches idatabase facility registers growth in 3rd quarter for easy access to regional data A
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By APIPA P. BAGUMBARAN, Contributor
CCESSING regional social and economic data will now be easy with the opening of the Regional Socio-Economic Analysis and Research
Center and Helpdesk (ReSEARCH-X). The idatabase facility is located at the ground floor of the National Economic and Development Authority
(NEDA) Regional Office X Building corner CapistranoEchem Streets in Cagayan de Oro City. Mae Ester T. Guiamadel, NEDA-X assistant regional director, said the facility is intended to provide a better
THE Department of Interior and Local Government (DILG) Region 10 underscored the importance of volunteerism in ensuring the deliver y of priority
programs. “With the DILG programs that are being implemented, still, the focus is to unify the efforts of volunteer or g an i z at i ons an d t h e
department as well as our partner agencies, in ensuring that we could appropriately deliver the priority programs especially those that are part of the priorities of
By APIPA P. BAGUMBARAN, Contributor
platform and easy access of frequently requested regional social and economic data. Guiamadel said the facility offers data on four sectors: macro, economic, social and infrastructure. neda/PAGE 11
President Duterte,” said DILG 10 Director Arnel M. Agabe during the 4th Annual Volunteers Gathering: Celebrating the Spirit of Volunteerism and Citizenship held at Capitol University Gymnasium, Cagayan de dilg/PAGE 11
DILG: Volunteerism needed in implementing critical programs
E XC E P T for c o c onut production, all sub-sectors in Northern Mindanao’s agriculture registered gains during the third quarter of 2016. Palay production went up by 15.6 percent while corn grew by 7.5 percent. The growth in the volume of palay produced from 186,082 to 215,2011 metric tons was driven by the production increases in Bukidnon and Lanao del Norte by 22 and 20 percent, respectively. The National Economic Development Authority ( N E DA ) i n t he re g i on reported that the increase in production in Bukidnon was due to t he us e of hybrid and certified seeds and fertilizer subsidy from the local government units (LGUs) and the Department
of Agriculture. The production growth in Lanao del Norte was att r ibute d to a d e qu ate irrigation services including the rehabilitation of irrigation canals in Lala and Maigo towns, usage of high-yielding varieties, ratooning after each cropping season, and seed assistance from LGUs. Corn production, on the other hand, went up from 464,138 to 498,991 metric tons year-on-year. NEDA said the increase was pushed by the good performance of white corn production which grew by 43 percent. Bukidnon, the biggest corn producer in the region, doubled its production due to increase in harvested areas and use of hybrid and modern open pollinated variety corn seeds. growth/PAGE 11
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Ayala’s AC Energy, Chevron close geothermal deal
A
C Energy Holdings, Inc. has signed a d e a l to buy the geothermal operations of Chevron Global Energy Inc. in Indonesia and the Philippines, its parent firm Ayala Corp. told the stock exchange on Friday. Separately, AC Energy s aid it had forge d t he share sale and purchase agreements with Chevron and with Union Oil Co. of California and their relevant affiliates. John Eric T. Francia, AC Energy president and chief executive off icer, described the acquisition as a “significant step” towards attaining the company’s goal of reaching 2,000 megawatts (MW) in installed capacity by 2020. “This acquisition is a major milestone for AC Energy as this scales up our renewable energy platform and establishes our presence in Indonesia,” he said in a statement. Mr. Francia previously s a i d t h e c o m p a n y ’s participation in various power generation projects
Jollibee divests stake in Mexican restaurant operator JOLLIBEE Foods Corp. has sold its entire stake in the operator of Jinja Bar and Bistro restaurants in New Mexico for $1.6 million in a bid to channel funds more to its “larger businesses”, the listed food company told the stock exchange on Friday. Jollibee, which claims to be the largest Asian food service company, said the transaction was through its unit Jollibee Worldwide Pte. jollibee/PAGE 11
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CorporateWorld
brought its “attributable” capacity to 1,000 MW this year. AC Energ y is the development arm of the Ayala group in the energy sector. It partnered with other entities in many of its projects in the country. The company expects 60% of its target capacity to come from renewable energy sources, including solar and wind technologies. In the geothermal deal, AC Energy was part of an Indonesian consortium and a Philippine consortium. It did not disclose the value of the deal. The company did not immediately respond to a request for that information. “ The closing of t he transaction is made subject to the satisfaction of certain agreed conditions. In particular, for the acquisition of the Philippine asset, the closing is subject to obtaining certain consents and approvals, including the approval of the Philippine Competition Commission,” AC Energy said. The Indonesia consortium consists of AC Energy --
with a 19.8% economic stake -- Star Energy Group Holdings Pte. Ltd., Star Energy Geothermal Pte. Ltd., and Electricity Generating Public Co. Ltd. The acquisition will be made through their joint ve ntu re c omp any, St ar Energy Geothermal (SalakDarajat) B.V. In the Philippines, the consortium consists of AC Energy and Star Energy Group Holdings Pte. Ltd. The acquisition will be made through their joint venture company, ACEHI-STAR Holdings, Inc. In Indonesia, Chevron subsidiaries operate the Darajat and Salak geothermal fields in West Java, which have a combined capacity of 235 MW equivalent of steam and 402 MW of electricity. Locally, Chevron’s units have a 40% equity interest in the Philippine Geothermal Production Co., Inc., which operates the Tiwi and MakBan geothermal field in Southern Luzon. The field supplies steam to power plants with a combined installed capacity of around
700 MW. AC Energy said Clifford Chance Pte Ltd. acted as the lead transaction counsel to the consortium. Credit Suisse was the sole financial advisor and joint financier to the consortium. Ayala Corp. unit Bank of the Philippine Islands acted as lead coordinator for the debt financing along with DBS Bank Ltd. With the deal, the Ayalas’ AC Energy has won over c o mp a n i e s l e d by t h e Lopez and Aboitiz families in bidding for Chevron’s Indonesian and Philippine geothermal energy assets. An official of Lopez-led Energy Development Corp. (EDC) previously said the company was one of five groups that were short-listed for the auction of the assets. EDC and its Japanese partners submitted their bid on Oct. 31, 2016, the deadline, the official said. Aboitiz Power Corp. had expressed interest in bidding for the geothermal assets, which were previously placed by news reports to fetch around $3 billion.
Megaworld to revisit dike PPP bid given new terms M E G AWO R L D C o r p . , through its consortium Tr i d e nt In f r a s t r u c tu re and Development Corp., is open to reevaluating the P123-billion Laguna L akeshore ExpresswayDike proposal should the current government decide to bid it out, but under “more favorable” terms, a top official of the listed builder said. The Duterte a d m i n i s t r at i on e a r l i e r announced it is looking to pursue the Laguna Lakeshore public-private partnership (PPP) project and “resolve issues” so the plan could
proceed after a failed bidding last March 28 prompted a review of the proposal, with none of the pre-qualified bidders submitting offers. Alliance Global Group, Inc. (AGI) Executive Director Kevin L. Tan said that the firm is “always looking at opportunities to expand and diversify its business.” AGI is the investment holding firm of tycoon Andrew L. Tan. “If the government will reignite the project and if there are more favorable terms of reference, then we are interested, we might be interested to join again with
our consortium partner,” Mr. Tan said in a recent interview. The P122.8-billion Laguna L akeshore ExpresswayDike contract involves a 47-kilometer flood control dike, on top of which will be a six-lane expressway from Taguig City to Los Baños, budgeted for about P64.914 billion; and the reclamation of 700 hectares west of the expressway-dike for about P57.897 billion. The concession period will run for 37 years. The highway is expected to reduce travel time from megaworld/PAGE 11
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Miami Inn 8581901 to 02 Fax: 725279/728486 N Hotel (088) 8801924 Paras Beach Resort 8568563 Fax: 8568563 Iwas Paputok campaign. The Department of Health-10 (DOH) with the Health Education and Promotion Unit convenes the members of the press to strengthen their advocacy for OPLAN Iwas Paputok in preparation for any untoward incidents and eventualities come the celebration of Christmas and New Year on December 23.(RTP/PIA10)
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Opinion
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Christmas Everyday T h i n k a m i nute… Just because Christmas is o v e r d o e s n’t m e a n w e must stop giving things to others. In fact, we should enjoy Christmas day every day of the year! We could call these daily gifts “Our daily Christmas celebrat ion.” At le ast 1 a day will make a big difference in your life and in the lives of others around you. Here are a few suggestions. Make peace with someone you quarreled with. Find a forgotten friend. Pay a long overdue debt. Be gentle and patient with an angr y person. Make a child h a p p y. M a k e o r b a k e something for someone else - anonymously! Let go of a grudge. Make the time to listen to your child’s real feelings and interests. Keep a promise. Forgiven an enemy. Express thanks to your wife, husband, or children for what they do e ver y d ay. Bre a k a b ad h a b i t a n d s t a r t a n e w, good one in its place. Speak kindly to a s t r a n g e r. L o w e r y o u r demands and expectations of others. Be honest. Take your wife out on a date. Work harder at your job
THINK
A Minute
Jhan Tiafau Hurst a n d c a r e e r. S h o w t r u e compassion and put yourself in the other p e r s o n’s p l a c e . L a u g h and have fun with your family. Take the time to talk and listen to an older person. Offer to baby-sit for a tired mother. Buy someone a meal or an ice cream. Apologize if you’re wrong. Give your teacher a break and do your best. Give your students a break and be realistic in your requirements. Let’s make Christmas one life-long gift of ourselves to others. Oh yes, one more suggestion. Give you r l i fe t o Je s u s Christ by loving Him and living His way ever y day. After all, He died to give His life to you. Just Think a Minute…
Do you always count the days up to the next legal holiday without being on duty? Or do you start as early as September longing for Christmas? And do you wish the weeks or months to hopefully pass by like an assault up to the next possible salary increase? Many times we are really too much in a hurry while feeling uncomfortable if we noticed how time flies. We have no time for some one or something, or even for ourselves. We don’t make time for some one of something or even for ourselves. When I was still a teenager, I was longing for the time to be a grown up already. Later, I enjoyed listening to my grandmother’s stories such as “Once Upon A Time” or
‘When I Was Young” from her “yesterday’s life”. After a couple of years, especially while observing that time really flies like a rocket to the moon, I always have the same question in my mind: Are the present hours and days less valuable? Thes e d ays b et we en Christmas and New Year, b et we en yesterday and tomorrow, I used to slow down and to relax. I even ignore my cellphone most of the time. I hide at a secret place to unwind. The next turn of the year is just around the corner. For most of us it’s the time to come to our senses. The future prospects smile at us already. What might the New Year 2017 bring us? Another hectic schedule of course! But hopefully also
happiness, joy and health. Hopefully more peace. Is life in future easier, n i c e r, m o r e c h a r m i n g and being more fulfilled compared to the present? Many of us retreat into the past and forget their present existence. A possible topsyturved world of a golden youth tries to let us forget that also the past have had its share of disappointments, pains, tears, darkness, as well as desperate days. Dreamy and sleepy days - yes, lost days, irretrievable time... . I am glad and happy being able living a wonderful life as an expatriate here in the Philippines - together with my family and many very good friends. It hasn’t been easy during the first years. Now we stand on our own feet, because we
H ave M y Say
Klaus Doring
worked hard and adjusted very well. Happy New Year to all of you and May God bless us! +++ Email: dor ingklau s@ gmail.com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines.blogspot.com or www. klausdoringsclassicalmusic. blogspot.com .
Ouster plot may lead to bloody RP civil war LIFE’S INSPIRATIONS: “… God replied to Moses, `I AM WHO I AM. Say this to the people of Israel: I AM has sent me to you.’ God also said to Moses, `Say this to the people of Israel: Yahweh, the God of your ancestors—the God of Abraham, the God of Isaac, and the God of Jacob—has sent me to you’…” (Exodus 3:14, the Holy Bible). -ooo JESUS SAYS HE IS “I AM”: In John 8:24 of the Bible, Jesus told the people that if they didn’t believe that He was “I Am”, they will die in their sins (which means, of course, suffering the eternal penalty of fire and worms in hell). Now, who is “I Am”? In Exodus 3:14, God the Father told Moses He is “I Am”. These two Biblical verses therefore prove that Jesus is saying He is God the Father, no more, no less!
-ooo OUSTER PLOT MAY LEAD TO BLOODY RP CIVIL WAR: Is there a plot to oust or unseat President Duterte? Judging from what is coming out in the media, not only about the plan submitted by former US Ambassador to the Philippines Philip Goldberg but also about alleged machinations by a rich Filipina who is now based in the US in cooperation with the political opposition here, there are several existing plots to kick out the President. The formula actually is simple: create discontent, divide the people, alienate Filipinos from Duterte, and then stage a “peaceful revolution” patterned after the so-called “people power”US led revolution of 1986. This pattern or formula is actually enshrined in the 1987 Constitution which was
passed under the term of the first President Aquino. The only problem or hitch here, at this point in the history of Philippines and the Filipinos, is that, Duterte continues to enjoy a huge support among the people, as shown by surveys. While it may have been easy ousting President Marcos and President Estrada before--considering the discontent of the masses---there maybe a strong opposition against ousting Duterte, which could lead to a bloody civil war. -ooo “PEOPLE POWER” IN 1987 CHARTER DESTROYS RP: Certainly, talks about ousting the President of this country could have very dire repercussions even if the ouster is not actually carried out. Any frenzy brought about by plans to kick out our country’s leader has
K ak ampi
Mo A ng Batas
Atty. Batas Mauricio the effect of a devastating destabilization which could make the economy turn from bad to worse, and make life needlessly more difficult for many once again. This is the reason why I have been saying all along that the “people power” provision in the 1987 Constitution--which allows our people to rise up against duly batas/PAGE 9
Merry Christmas or Happy Holidays? There in the States, they make a big stir over which is more proper to say : Merry Christmas or Happy Holidays? It stems from what they call as the “war on Christmas” that to my mind has religious, political and ideological undertones. Apparently there are people who are trying to tone down the religious aspect of the greetings. They have made some polls on people’s sentiments regarding this issue and have found out that most Republicans and the older people favor saying, Merry C hr ist mas over Happy Ho l i d a y s , w h i l e m o s t Democrats and the younger ones prefer the other way around. I would say that both greetings can be correct and prop e r d e p e nd i ng on one’s motives and the circumstances surrounding the greetings. There should not be a big fuss over this issue, especially in our country that so far is still quiet about it.
But, yes, we have to give due attention to its religious, political, and social dimensions involved, to be ready in case this issue erupts into something big here. I also suspect that this controversy in the States is a kind of religious baiting akin to what they call as racial baiting that is not really a problem in our country. We should not take this issue too seriously, at least as of now. Offhand, I must say that many people nowadays are not quite affected by whatever greeting is said because they just say things perfunctorily, without much attention about whatever implications those greetings can make. The obvious presumption is that the greeter means well, and hardly anyone interprets the greeting beyond that presumption. It’s when people put more into these greetings that we can start to have a problem. When a person or especially a group, for example, makes a blanket praise or blanket condemnation of the one
of the expressions to the exclusion of the other, for some religious, political or ideological reasons, then we really would have a problem. Let people say what they want to say as a greeting during this special period of the year. Everyone has his idea of what is correct and proper, what is traditional and customary to say, and we just have to respect that. Unless it is clear that his greeting violates a basic human right, which is hardly the case, we should just be happy that one greets or is greeted. Of course, we have to give due attention to the way the temper of the times develops. In our country t h at i s pre d om i n ant l y Christian and Catholic, we should make it a point that the spiritual and religious character of the season is upheld. In fact, it should be developed, purified, enriched and protected. We have to be wary of the many isms that tend to undermine the true character of Christmas.
HINTS
and
Traces
Fr. Roy Cimagala We should not forget that in the world today there is already a very strong wave of worldliness, agnosticism, skepticism and atheism. We have to be ready in the event these isms try to dominate us. But this does not mean that we should engage in some religious war on those whose beliefs are different from but not necessarily opposed to our Christian faith. We have to respect religious freedom and the freedom of consciences. We should not go around imposing our cimagala/PAGE 9
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Dominguez: Gov’t domestic borrowings won’t crowd out micro enterprises
F
INANCE Secretary Carlos Dominguez III said the Duterte administration’s move to increase borrowings from the domestic debt market next year won’t crowd out micro and small enterprises, as a new law now provides for a mechanism that would allow these businesses to tap convenient, flexible and affordable loans through microfinance services. Owing to the excess liquidity in the market, commercial banks would be more willing to take risks and lend to entities that provide microfinance services and operations because they would get higher yields from them than from the government, Dominguez said. “Our financial markets are ve r y l i qu i d at t he moment and there is really very little overlap between government funding. We are not crowding out the commercial enterprises nor the small and medium enterprises,” Dominguez said at a recent congressional hearing.
According to Bangko Sentral ng Pilipinas (BSP) data, domestic liquidity as a percentage of the Gross Domestic Product (GDP) was at 63 percent as of June 2016 while domestic credit as a percentage of the GDP was at 60.1 percent during the same period. “In fact, the banks would be more encouraged to lend to the smaller enterprises because they certainly get higher yields than they get from us,” Dominguez said. The finance chief earlier told Congress that the new administration’s policy “is to source much of our financing needs from domestic sources.” He said this borrowing mix would help protect the welfare of exporters and overseas Filipino workers who would otherwise be at the mercy of foreign exchange fluctuations if the government borrows more from foreign sources. Dominguez made the assurance in response to concerns raised by legislators ove r t he gove r n me nt’s preference to borrow from domestic, rather than from
foreign, sources, which, he said, could shut out small enterprises from the local debt market. According to Dominguez, banks would be earning only about 1.8 percent per annum if they lend to the government, but at least three times as much if they provide funds for small and medium enterprises. “If they lend it to the private sector particularly the small and medium enterprises, I think their interest rates at least would maybe be three times as much, and I think it’s worth the risk,” Dominguez said. He informed lawmakers t hat under a ne w law, aspiring small entrepreneurs who would otherwise be considered as “unbankable” by traditional lending sources would be able to conveniently access loan facilities through accredited nongovernment o r g a n i z at i o n s ( N G O s ) that exclusively provide microfinance services to small enterprises. At the 13th Association of Southeast Asian Nations (ASEAN) Business and
Investment Summit held last September in Vientiane, Laos, President Duterte called on ASEAN to support the development of micro, small and medium enterprises (MSMEs). Mr. Duter te s aid in his speech that for the Philippines, “our economic focus will be towards the promotion of inclusive growth through innovation in four areas,” including MSMEs. Dominguez said at the hearing that “we just signed the IRR for [this new law on microfinance NGOs] and we gave them a very big tax credit.” Qualified microfinance NG Os are e l i g i bl e for preferential tax treatment of 2 percent tax—in lieu of national taxes—based on their respective gross receipts from microfinance operations under the recently signed Implementing Rules and Regulations of Republic Ac t No. 10693, or t he Microfinance NGOs Act. Thus, p o or fami lies considered as “unbankable” domestic/PAGE 9
Landbank eyes to get BSP okay for Postal Bank before end-June S TAT E - O W N E D L a n d Bank of the Philippines (Landbank) is looking to secure the Bangko Sentral ng Pilipinas’ (BSP) green light for its acquisition of Philippine Postal Savings Bank (Postal Bank) -- eyed to become the country’s bank for overseas Filipino workers (OFW) in keeping with the Duterte government’s promise -- by the first semester of 2017. “L andb an k pl ans to secure BSP approval in the first semester of 2017,” Erwin Rommel A. Almacen, corporate planning officer of Landbank, told BusinessWorld in an e-mail when asked when the bank targets to secure regulatory approval for its planned acquisition of Postal Bank. In a Dec. 20 statement, the Department of Finance announced that Landbank is expected to set up Postal Bank by September next year as a subsidiary that will be 30% owned by OFWs. Alex V. Buenaventura, president of Landbank, said that at the onset of 2017, the lender will begin undertaking due diligence to start the process of converting Postal B a n k i nt o L a n d b a n k’s subsidiary together with the Commission on Audit and the BSP. Accomplishing the requirements would take eight months. The OFW bank is expected to be operational by Sept. 1, 2017 after the state-controlled bank accomplished its clearances
from the Governance Commission for Government O wned and C ontrolled C o r p o r at i o n s a n d t h e Philippine Competition C om m i ss i on i nclu d i ng approvals from the BSP and its Monetary Board and the Securities and Exchange Commission, the Finance department said. Asked how will Landbank’s new subsidiary affect the overall growth of Landbank, Mr. Almacen told BusinessWorld in the e-mail, “Landbank’s possible acquisition of Postbank will have no impact on its overall growth in 2017. The main reason is because Postbank’s assets and client base are less than 1% compared to that of Landbank, combined with the fact that the acquisition may be realized at the tail end of the year.” Me a nw h i l e , M r. Buenaventura said in the Dec. 20 statement that Postal Bank will be a listed firm “with an authorized capital of P3 billion and a subscribed capital of P2 billion, of which P1 billion is paid-up by the Landbank. Another P1 billion will be open for subscription to OFWs who can acquire them by buying shares in the bank.” D u r i n g t h e pro c e s s of setting up the OFW bank, Landbank will open a representative office in Saudi Arabia, “or near a place where OFWs usually converge and meet” to cater to provide banking services to some 800,000
Filipino workers based in that country. Despite seeing an almost flat growth at end-September at P10.3 billion, unchanged from last year’s P10.27 billion, Landbank moved closer to its full-year income target of P13.5 billion for 2016 driven by the bank’s steady expansion. The net profit recorded at end-September surpassed
its target of P10.13 billion in earnings for the period. Landbank placed fourth as the countr y’s largest commercial bank as of September this year with a total capital of P90.9 billion and assets amounting to P1.3 trillion. As of September, the bank had 365 branches and 1,607 automated teller machines nationwide.
Complying with export market’s requirements key to seizing business opportunities Exporters of food and other agri-based products need to comply with buyers or export market’s requirements to seize more bu s i n e s s opp or tu n it i e s brought by globalization and rising demand. Engr. Leandro Gazmin, Asst. Secretar y for Agribusiness of the Department of Agriculture, s a i d it i s c r it i c a l t h at businesses meet these requirements such as product quality and quantity, food safety, certifications and accreditation, and packaging and labelling. G a z m i n c it e d a s an example buyer requirements of the European Union (EU) t hat include leg islat ive requirements in country of source as well as in the destination, phytosanitary certificate and EU import checks. “As far as dried exotic
fruits are concerned, there are presently no specific EU quality standards,” he said. “Codex quality standards for dried mangoes (2013)- (are) considered to be a world standard.” On the consumer package for dried fruit, Gazmin identified information on the label that is mandatory. These are ingredients and the quantity of each, net quantity of dried mango (in gram), nutritional value per 100 gram, best before date, bar code, special storage conditions, name of the packer or importer, and country of origin. “Promotional message or catchy phrase on the cover may be added, but be careful with strong health claims; such claims should meet certain requirements,” he said. The agriculture official export/PAGE 9
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Feature
Globe undertakes restoration activities amidst Typhoon Nina aftermath
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Business continuity protocols minimized impact to customers in Southern Luzon G lobe Te l e c o m h a s dispatched technical personnel to immediately restore network services a f f e c t e d b y Ty p h o o n Nina in some par ts of A l b a y, C a t a n d u a n e s , Camarines Sur, Sorsogon, Marinduque, Sorsogon and Masbate, Oriental Mindoro and Quezon as of 12 pm Monday. St rong w i n d s f rom Ty p h o o n N i n a t h a t caused commercial power interruption and multiple fiber cuts resulted i n t e mp o r a r y s e r v i c e d is r upt i ons e sp e c i a l ly in Albay and Camarines Sur. Business continuity protocols including net work re dund ancies have been activated to re du c e t h e i mp a c t of ser vice disruption to c ustome rs i n t he s aid areas. "Based on our network team assessment, intermittent ser vices were mostly caused by
commercial power outages in the Bicol Region. Generator sets for cell towers are now being used to allow customers to use basic telecommunications services such as calls and text messaging. However, at least 6 towers located in Camarines Sur (4 towers) Albay and Marinduque were structurally affected which will make full service restoration longer. The towers were reportedly damaged because of strong winds that ran up to 200 km per hour. Multiple fiber cuts were also reported f rom Pi li to L egaspi," s a i d Yo l y C r i s a n t o , SVP for Corporate Communications of Globe. Globe technical teams have been deployed to make restoration efforts as soon as weather permits. Globe is likewise coordinating with government agencies relating to deployment of relief operations in areas affected by the typhoon.
A cell tower damaged by Typhoon Nina
Libreng Charging and Tawag in Boac Covered Court, Boac, Marinduque
Libreng Tawag station at Bayan building Blumentrit St., Barangay Tinago, Naga City
Globe provides support to communities affected by Typhoon Nina as restoration activities continue
A
December 31. charging stations in Boac s of 2 pm City. Globe also supported Covered Court in Boac, Tuesday, Globe Over 20,000 families Marinduque, and in Bayan the Philippine Red Cross Telecom is now that were evacuated to with load cards to be used Building Blumentrit able to provide critical the nearest temporary by volunteers for voice, St., Barangay Tinago in telecommunication shelters can now connect data, or texts as they Naga City starting today, services in majority of with their relatives and deliver aid at various relief December 27 from 8:00 areas heavily affected friends as Globe has set centers. AM to 6:00 PM until by Typhoon Nina amid up libreng tawag and accelerated efforts to restore the company’s wireless network. According to Yoly Crisanto, Globe Senior Vice President for Corporate Communications, the company has restored 53% of service areas that were adversely impacted within the last 24 hour period. Widespread commercial power outages and multiple fiber cuts following strong winds caused service disruptions especially in critical areas such as Legazpi, Albay and in Pili, Camarines Sur. “Globe will continue to step up restoration efforts until we have completely restored voice, text, and data services in all typhoon-hit areas,” she emphasized. Alongside restoration efforts, Globe is helping the victims of Typhoon Nina by providing libreng tawag and libreng charging stations in Boac, Marinduque and in Barangay Tinago, Naga Libreng Charging station at Bayan building Blumentrit St., Barangay Tinago, Naga City
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LifeStyle
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Batas... from page 4
constituted authorities---is a curse, rather than a blessing. It is a recipe for rebellion, for lawlessness and anarchy, and for sedition and insurrection, which wreck the stability of our country. It is also anti-Biblical, because it runs counter to established doctrines about obedience to our rulers and to the authorities, even if they are harsh and sinful. As a people believing in God, Filipinos are mandated to respect their rulers, and that anyone fighting these rulers will receive God’s judgment and punishment. We are told to pray for our leaders, not to oust them. -ooo JESUS CONFIRMS HE IS GOD: Here is the story in John 8:24, about Jesus saying He is “I Am”: Jesus tells the people He is the light of the world, and that His claims are testified to not only by Him but even by the Father. The religious leaders at that time try to refute Him, asking Him who His Father is. Jesus then makes a claim that shocks the religious leaders. He says: “That is why I said that you will die in your sins; for unless you believe that I AM, you will die in your sins.” In Exodus 3:14, when Moses was asking God who was sending him to lead the people of Israel out of Egypt, God told Moses to say that it is “I Am” ---God Himself---who was sending him. Jesus confirms therefore He is God Himself. -ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 HOURS a day, in the Philippines and the world at www.facebook.com/ angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0917 984 24 68, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.
Cimagala... from page 4
doctrine and ways on those who see things differently. We have to follow what Christ once said: “Whoever is not against you is for you.” (Lk 9,50) What we can do is to be more consistent in our spiritual life, more Christlike, that in the first place is expected to be characterized by humility, meekness, charity, mercy, patience while pursuing the truth as spelled out by Christ and taught authoritatively by the Church. We should try to follow what Christ also once said: “Whoever is not with me is against me, and whoever does not gather with me scatters.” (Mt 12,30) We need to give good example to others in an abiding way, and not just intermittently, that can give rise to suspicions of hypocrisy, deception and some other ulterior motives on our part. More than words, this is how we can win souls, encourage
Premiumization, a trend in Asia’s ready-to-drink coffee market Makers of ready-to-drink (RTD) coffee are moving beyond canned RTD coffee to more premium offerings, as many Asian customers opt for sophisticated alternatives. Euromonitor Digest, a publication of the Department of Trade and Industry-Export Marketing Bureau, said more premium offerings use higher quality ingredients, chilled cups and more attractive packaging in the form of PET bottles. Introducing more premium products are a step-up from the traditional 3-in-1 instant coffee mixes and canned RTD coffee. “Makers of RTD coffee are moving to introduce b etter-quality pro ducts b e caus e consumers are
now more aware of good coffeeÂ…,” said the Digest culled from Euromonitor International. RTD coffee companies are looking beyond the traditional metal beverage can to offer a more premium look and to provide a taste and texture closer to caféstyle coffee. “Using chilled coffee cups to package a fresh, refrigerated RTD coffee has been one way to appeal to the more sophisticated coffee drinker,” it said. Eu rom on itor D i ge st expects the trend towards premiumization to continue until 2020. “The premiumization trend is expected to continue in Asia’s RTD coffee market as coffee drinkers warm to
increasingly sophisticated alternatives,” it said. Middle-class residents in Asia’s big cities have also grown accustomed to patronizing specialist shops and “local players to enjoy the specialty drinks and to socialize in an attractive environment.” At t h e s a m e t i m e , economic growth has slowed down in most Asia-Pacific countries outside of India, le ading to many Asian customers to economize. “As Asian coffee drinkers are increasingly looking for value, more of them may decide to move away from RTD coffee to convenience store if RTD coffee companies are not able to introduce bettertasting varieties,” it added.
Iran a ‘frontier’ consumer market for Filipino exports Numerous export and business opportunities await Philippine enterprises in Iran if they can only overcome their misconceptions about the western Asian country, according to an Iranian diplomat. Ambassador of Iran Mohammad Tanhaei told Filipino enterprises that there is a large untapped market for their products in his country and urged them to do research on Iran as a frontier export destination. Cosmetics is among these goods enjoying high demand, said Tanhaei in his recent talk at a trade seminar on new destinations for Philippine exports, organized by the Department of Trade and Industry-Export Marketing Bureau. “Iran is one of the main destinations of cosmetics in the Persian Gulf,” he emphasized. “Cosmetics can be a good [starting] ground for the Filipino exporters to [supply to] Iran.” According to the Iranian Association of Cosmetics, Toiletries and Perfumery Importers, Iran at present accounts for US$2.1 billion of the Middle East’s $7.2-billion beauty products market, second
in the region after Saudi Arabia. Beauty products highly sought by Iranians reportedly include makeup, skin-care, and anti-aging products. Tanhaei related how he helped one cosmetic company in the Philippines go to Iran for market exploration and the firm confirmed that the amount of business to be done there was huge. The company has started to look into exporting cosmetics products that are coconut oilbased, like lipsticks, to Iran. He noted that with the lifting of trade sanctions against his country, there is also “a very strong appetite” for fashion items such as men’s, women’s, and children’s clothing that Filipino businesses can meet. Besides cosmetics and clothing, Iran is likewise seeking direct exporters of grocery items and agricultural products. The diplomat added that Filipino firms can also look to Iran for joint ventures in various fields, including pharmaceuticals, an area where Iran is a big producer and where Philippine firms can seek partnerships in areas like packaging. He said his country also
possesses high expertise in technology, and is willing to share its knowledge in producing pharmaceuticals and construction materials like cement. “There is a lot of advantage in doing business with Iran whether importing, exporting, or establishing joint ventures,” he said. But Tanhaei observed that there are barriers to developing trade between the two countries. Iranian companies are not knowledgeable about what businesses can be developed with Filipino partners, often skipping the Philippines on their visits overseas. There is also the misconception about the level of safety and security in Iran, as Filipinos often confuse the country with Iraq. Tanhaei assured that his country is not only a safe place to visit, but a profitable “virgin” market for establishing business ties. He invited interested domestic suppliers to go to the Iranian embassy in the Philippines for information and assistance on entering the market.
the weak, correct those in error, cause conversions, etcetera. Wh i l e t he re c an b e drastic measures to keep our Christian identity at Christmas time, we should use more the normal means of giving witness to our faith in the ordinary circumstances of our daily life. This will attract souls to the Christian faith more effectively. We should avoid any traces of self-righteousness, of seeing things in a simplistic black-and-white way. roycimagala@gmail.com.
One key feature of RA 10693’s IRR is the set of guidelines on the creation of a Microfinance NGO Regulatory Council, which is tasked to accredit NGOs t h at prov i d e f i n a n c i a l products and services to small entrepreneurs. This new law is attuned t o P re s i d e nt D ut e r t e’s 10-point socioeconomic agenda designed to sustain the economy’s high growth path and make its benefits felt by all Filipinos. RA 10693 defines “m i c r o f i n a n c e” a s t h e “viable and sustainable provision of a broad range of financial services to poor and low-income individuals engaged in livelihood and microenterprise activities.” Un d e r t h e l a w, microfinance NGOs are required to maintain a
c omp e ns at i ng b a l an c e, defined as “the proportion of the total loan of a microfinance client, which is retained with the microfinance institution as capital build-up (CBU) or micro-savings.” (PNA)
Domestic... from page 5
loan clients can now tap government funding to open up small businesses by accessing credit facilities provided by microfinance NGOs.
Export... from page 5
noted the improved packaging and labeling, especially in light of growing food safety concerns, is among the challenges the exporters face in penetrating the export market. Gazmin also underscored the importance of adhering to Good Agricultural Practices (GAP) specifications to “improve market prospects.” He said there is likewise a need to increase production of quality and competitive products to sustain existing market and explore new ones.
Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL Cagayan de Oro City NOTICE FOR PUBLICATION In compliance with Section 5 of R.A. No. 10172, a NOTICE is hereby served to the public that JENEFER T. GRAMATICA has filed with this Office a petition for the correction of clerical error in the entry of the child’s sex from ‘’FEMALE’’ to ‘’MALE’’ in the Certificate of Live Birth of JUSTINE TAGAAN GRAMATICA who was born on OCTOBER 18, 2005 in CAGAYAN DE ORO CITY and whose parents are PACITO HALAPADAN GRAMATICA and JENEFER AUDITOR TAGAAN. Any person adversely affected by said petition may file his written opposition with this Office not later than December 30, 2016.
(Sgd.) NORMA S. DIPUTADO City Civil Registrar
BWM: December 28 & January 4, 2017
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Scheme...
Reforms...
end-users of Mindanao will have total hold of the corporate vehicle and the cheaper-sourced electricity from the hydro plants will just flow to their benefit. The Agus complex has 727 megawatts installed capacity; while Pulangui is of 255MW capacity but both facilities a l r e a d y h av e d e - r at e d generation since they first came on commercial stream. Alzona said “our mandate is to dispose in three years all of the remaining assets, including the Agus-Pulangui plants.” The “corporatization scheme,” in particular, may still place ownership of the assets under government; and only the operation and sale/trading of capacity that shall be bestowed unto the private sector’s charge. The current government l e a d e r s h i p i s b e nt o n completing the privatization mandate on the assets of the National Power Corporation (NPC) so it could partly raise the cash to retire PSALM’s whopping residual debts. As previously indicated, the scale of unsettled PSALM obligations may still top P245 billion until the end of its corporate life in 2026. Corporate longevity extension is a policy matter that the Duterte administration had already thumbed down.
“Malaki ang mawawala, kung wala ang NPA (It’s going to be big loss if there will be no more NPA).” President Rodrigo R. Duterte has declared he wanted a shift to a federal form of government to address the imbalance in the sharing of resources among the country’s provinces. Jalandoni also said that the revolutionary forces can be tapped to assist the government in national defense. But he said these things will be tackled when during the negotiation on the End of Hostilities and Disposition of Forces, the last item on the 4-point agenda of the GRP-NDF peace process. During the Ramos administration the government and the NDF signed the Comprehensive Ag re ement on R esp e c t for Human Rig hts and International Humanitarian Law. The two par ties are currently negotiating on the Comprehensive Agreement on Social and Economic Reforms or Caser. Next on the agenda of the talks will be Political and Constitutional Reforms and End of Hostilities and Disposition of Forces, in that order. NDF consultant Wilma Tiamzon heads the Reciprocal Working Group on End of Hostilities and Disposition of Forces (EOH-DOF). On January 18 to 25, the GRP and NDF panels will resume talks in Rome, Italy to discuss Caser, dubbed the “heart and soul” of the peace negotiations. Caser covers the most contentious issues such as the agrarian reform, national industrialization, and foreign policy. It aims to eradicate “Philippine poverty and reduce inequality in all their aspects and dimensions to have productive, decent and dignified lives,” according to common framework and outlines agreed upon by both panels. “Maraming pang balakid na kailangan ma-overcome (A lot of hurdles need to be overcome),” Jalandoni said. Labor secretary Silvestre Bello III, chair the GRP panel, said he is open to the proposal of Jalandoni that the NPA troops must not be disarmed. Bello, along with Local Government secretary Mike Sueno, Agrarian Reform Secretary Rafael “Ka Paeng” Mariano, and National AntiPoverty Commission lead convenor Liza Maza, was invited to the CPP’s 48th anniversary celebration. B ello, als o the GRP peace panel chair, said the revolutionary forces may no longer need to lay down their arms because the government could even issue them licenses so that they perform their new roles, for example, as forest guards. ‘Agrarian reform a major challenge’ Porferio Tuna, member
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Energy... from page 1
he said in a statement. “The BoI and the Philippine Chamb er of Commerce and Industry are working closely right now to bring in more investors from countries recently visited by the President including China,” he added. Liangan Power’s general information sheet filed with the Securities and Exchange Commission showed that the company is majority owned by Filipino citizens mostly of Chinese descent. According to the BoI statement, the company will provide reasonably priced supply of electricity, taking into account the need to m i n i m i z e t he ne g at ive impact of the project on the environment and host communities. T h e proj e c t are a i s located in the municipality of Bacolod, Lanao del Norte, covered within the proximity of Iligan City and Cagayan de Oro. Data from the Mindanao Development Authority showed that the region currently sources a little over 30% of its current power supply from renewable energy, with aggregate dependable power supply in Southern Philippines now over 2,300 MW with peak demand at around 1,600 MW to date. “ This projec t w hich has the support of Chinese investors will further spur industrial development in the South since it is located between two strategic cities,” Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo said in the statement.
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of the EOH-DOF working group, said that agrarian reform remains a major challenge. He said a “true land reform” could bring about genuine peace in the country. “(At least) 75 percent of the population are farmers, so we can say the agrarian reform is very essential. We have to fight for this,” he said. He cited the members of the Madaum Agrarian Reform Beneficiaries Association Inc., who are fighting for recognition as owners of the 145-hectare banana plantation in B arangay Madaum, Tagum City being run by Lapanday Foods Corp. “This is going to be a big battle against the big landowners because they do not want genuine land reform, so the masses must speak in one voice against them to achieve real land reform,” he said.
Visited... from page 12
the different Government Organizations (GOs) and Non -Government Organizations (NGOs). He reiterated that “All Sendong Survivors” shall be given free Skills Training from TESDA. These Skills Training conducted by the agencies should be coupled w it h opp or tu n it ie s for employment. Plan to bring all government agencies during the Sendong Anniversary and enjoy their help as much as possible. Encourage the people to help the program of the President Rodrigo R. Duterte in eradicating illegal drugs dependency and corruption. In response to the President’s aforementioned programs the people were advised to report corruption in TESDA and a cash reward shall be awarded. All TESDA employees and officials were subjected to drug testing to cleanse the agency of possible drug abuse, thus a Corruption Free and Drug Free TESDA. Secretary Mamondiong was able to hear the testimonies and stories of the survivors like: Ruby Madriaga her trials and hardships experienced during and after the disaster. Her entire life was changed when she able to take Skills Training on Commercial Cooking NC II and Dressmaking NC II conducted by TESDA on site. The life of Rolando Dumaolao, PWD blind masseur and a holder of Massage Therapy NC II from the relocation site. Now he is a certified Massage Therapist since 2006. He boasted of training by other site impaired individuals in the area and requested TESDA to assist them in the certification of other blind masseurs. Lastly, Jerry Macadine HOE President of Phase 3-Habitat for Humanity closed the activity with a request which was addressed to TESDA regarding the training modality of housewives in the community. It was requested that training of the agency for housewives be designed to adjust to the phase of the house working mothers due to
the nature of their work which need utmost consideration. Indeed, it was a very productive visit of TESDA Hon. Secretar y Guiling Mamondiong. Kudos.
NEDA... from page 2
Specifically, one can access data on economic updates such as the quarterly regional economic situationer (QRES); regional development plans and reports; socio-economic profile of the region; and data on trade and investments, exports, tourism, education, health, communication, power and transportation among others. The facility also has library holdings and materials from the Philippine Institute for Development Studies (PIDS). Guiamadel said they will update the database annually based on data from official sources and government agencies. NEDA-X is also eyeing to build-up the facility next year to offer wider and more comprehensive data and facilitate sharing of data of government agencies. (APB/ PIA-10)
Growth... from page 2
Production of other crops also showed encouraging results during the third q u a r t e r. In a g g r e g at e , production of vegetables, rootcrops, fruits and industrial crops was reported at 1,099,272.18 metric tons, up by 2.55 percent from the production level in the same quarter last year. The livestock and poultry sub-s ec tor managed to expand its output by 1.92 percent primarily induced by the improvement in the duck and chicken outputs by 6.61 percent and 3.25 percent, respectively. In terms of fishery, all its sub-sectors registered increases totalling 46,205 metric tons during the third quarter. The favorable weather and low prices of gas and oil enabled operators and fishermen to undertake more fishing trips during the quarter which boosted commercial fishing. The inseason of tamban, squid and other species also contributed to the good performance of municipal fishing. The g row t h i n a qu a c u ltu re was further driven by the increased in stocking of tiger prawn, dispersal of tilapia fingerlings, and operation of more fishcages in Misamis Oriental, Lanao del Norte
and Camiguin. Meanwhile, the production of coconut continues to suffer from the effects of El Niño during the third quarter. A total of 490,213,304 matured nuts were harvested during the period, lower by 1.6 percent from the last year’s harvest. With that, the volume of copra produced also declined by five percent. According to NEDA, it would take more than a year for the coconut sub-sector to recover from the long dry period. Although the volume of coconut commodities exported decreased during the third quarter, the total value of export sales went up by 21 percent reaching US$151.27 million due to higher freight-on-board value and increases of prices of some coco-based export commodities. (APB/PIA-10)
DILG... from page 2
Oro. Director Agab e also emphasized the need of volunteers in implementing the critical program of DILG—the Mamamayang Ay a w s a A n o m a l i y a , Mamamayang Ayaw sa Iligal na Droga Program (MASA MASID). This was discussed further by DILG Local Government Operations Officer (LGOO) Liza D. Ladres, focusing on the role of public engagement in MASA MASID Program. “Each and everyone of us is our brother’s keeper so it becomes a moral obligation for every human whether you are good or evil, whether you are religious or not, whether you belong to a government organization or private organization, to take on the welfare of each and every person that we will be meeting along the way,” Agabe said pertaining to the significance of volunteerism. He further said that we are saying that volunteerism is not truly volunteerism actually; because we are also saying that volunteerism is an obligation and a duty if you are human. (DILG10)
Jollibee... from page 3
Ltd., which divested of its shareholdings in Chow Fun Holdings LLC. “JFC’s divestment of its shareholdings in Chow Fun is part of its intention to concentrate its resources in building its larger businesses,” Jollibee’s disclosure read. Chow Fun redeemed 2,900
Republic of the Philippines Region X Province of Lanao del Norte Municipality of Kapatagan Office of the Municipal Civil Registrar R.A. 10172 From No. (LCRO) NOTICE OF PUBLICATION In compliance with section 7 of R.A. 10172, a notice is hereby served to the public Julie Guarin Dacaldacal has filed with this office a petition for Change of Gender from Female to Male in the birth certificate of Julie Guarin Dacaldacal who was born on September 1, 1983 at Lalibertad, Kapatagan, Lanao del Norte and whose parents are Enriquito C. Dacaldacal and Florina G. Dacaldacal. Any person adversely affected by said petition may file his written opposition with this Office not later 15 days. BWM:Dec. 30 & Jan. 6, 2017
(Sgd.) IVY REYES TONGCO Municipal Civil Registrar
class A membership units or equivalent to 80.55% equity shares. Chow Fun, which owns Jinja Bar and Bistro, has three restaurants in New Mexico -- two in Albuquerque and one in Santa Fe. Jollibee acquired a 12% equity stake in Chow Fun on July 25, 2008. It increased its shares to 80.55% on March 31, 2011. In the US, Jollibee has 34 Jollibee stores, 33 for cake and pastry brand Red Ribbon and 16 for Chinese fast food chain Chowking. It also has a 40% ownership in Smashburger, which has 378 stores, mostly in the US. In its dis closure on Dec. 15, the company said t he re dempt ion of t he shareholdings would depend on Chow Fun being able to arrange third-party financing at commercially reasonable terms and conditions.
Megaworld... from page 3
Metro Manila to Laguna to 35 minutes from the current 90 minutes, and the project is expected to ease traffic flow and mitigate flooding from Taguig to Los Baños. The three groups that had been expected to submit their bid documents last March were Malaysia’s Alloy-PAVI-Hanshin LLEDP Consortium (composed ofAlloyMTDCapitalBHD,Prime Asset Ventures, Inc., Hanshin Engineering Constructions); San Miguel Holdings Corp.; and Trident Infrastructure and Development Corp. -- a tie-up of Megaworld, Aboitiz Equity Ventures, Inc., Ayala Land, Inc., and SM Prime Holdings, Inc. However, the pre-qualified bidders decided not to submit offers due to concerns on the risk profile and complexity of the project. EXTRAJUDICIAL SETTLEMENT OF ESTATE OF DECEASED PERSON KNOW ALL MEN BY THESE PRESENTS: This instrument, made and entered into by and among: ELVIE J. BADUEL, widow, IRENE BADUEL, JEAN J., BADUEL, all of legal ages, singles, Filipino and residents of NHA Molugan, El Salvador City, Misamis Oriental, herein-referred to as the HEIRS; Witnessed: That on January 21, 1995 at NMMC, Cagayan de Oro City, FRANCISCO BADUEL JR., died intestate leaving a certain parcel of land more particularly bounded and described, to wit: ‘’A PARCEL OF LAND Lot 24, Block 3, situated at NHA, Molugan, El Salvador City with an area TWO HUNDRED TEN (210) SQUARE METERS, more or less.’ That at the time of the death of the above-named decedent he left no known debt, whatsoever and this instrument does not involve personal property as none was left by the above-named decedent at the time of his death; That the HEIRS herein being his surviving wife and children are the only forced heirs of the said decedent; That it is to the best interest of the said HEIRS and of the estate of the above-named decedent, that the herein-above described parcel of land thereon, be adjudicated unto divided and partitioned by and among the said HEIRS; Under the Notary Public of EMMANUEL A. AKUT, per Doc. No. 72; Page No. 16; Book No. 130; Series of 2015. BWM: Dec.23, 30 & Jan. 6, 2016
BusinessWeek Feature
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Friday | December 30, 2016
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TESDA Secretary Mamondiong visited Sendong relocation site L By Joe P. Palabao
ast November 25, 2016, TESDA Secretary Guiling A. Mamondiong made a historic visit to the Sendong Relocation Site-Phase 1 at Calaanan, Canitoan, Cagayan de Oro City with more or less 2,007 Sendong survivors residing at the site. Barangay Captain Joshua A. Taboclaon of Canitoan welcomed the visitors, the dignitaries and the survivors present during his visit.
Barangay Captain Taboclaon was so pleased of the visit to the relocation site thus giving them opportunity to be heard and improve their lives after the disaster through the intervention of TESDA during the time of hardship and grief. He also echoed the countless benefits the community has gained from TESDA’s programs and projects especially on human development and skills acquisition. In behalf of the Hon. Mayor Oscar S. Moreno,
Head of the CSWD Mr. Teddy Sabugaa gave his message. He stressed TESDA’s role in the rehabilitation process of the survivors and the importance of the collaboration of the different government agencies and the LGU in the event of disasters. He also reported the different programs that the city government ran to sustain the livelihood of the typhoon victims in the relocation site. The 8-point agenda of the City Mayor was also highlighted by
Mr. Sabugaa in connection with the rehabilitation process of the calamity victims in the community. Deputy Director General for TESD Operations for Mindanao Alvin S. Feliciano revealed that he travelled to the different disaster affected areas in the country
which started in Tacloban which was hardly hit by typhoon Yolanda in 2014. This included the cities of Iligan and Cagayan de Oro were two (2) areas in Region 10 visited by the team. He also cited the importance of going back to the disaster aided community after the
interventions should have been delivered and take a closer look on the impact of the activity whether it has made a dent on the lives of the affected thusthe historic visit. The visit was highlighted by introduction of the guest of honor by TESDA
Misamis Oriental Provincial Director Leo V. Velez, the Hon. Secretary Guiling A. Mamondiong. The Secretary himself congratulated the Hon. Mayor Oscar Moreno for his effort in the rehabilitation process with the cooperation of visited/PAGE 11
Secretary Mamondiong turned over ten (10) sewing machines By Joe Palabao
Last December 3, 2016, no less than the TESDA Hon. Secretary Guiling Mamondiong distributed ten (10) Sewing Machines to the Sendong Survivors at the Relocation Site, Phase 3 Habitat for Humanity, resettlement area at Calaanan, Canitoan, Cagayan de Oro City. The site has more or less 2,007 survivors
who are happily now residing in peace and harmony. Barangay Canitoan through its active and dynamic Barangay Captain-Joshua A. Taboclaon with sincere heart personally thanked the Secretary Mamondiong for making reality his promise in delivering ten (10) units of sewing machines to
the Sendong Survivors of the relocation site. Furthermore, Barangay Captain hopes for more assistance from TESDA in terms of training and skills development. Kagawad George Goking delivered the message of Vice Mayor Rainier Joaquin “Kikang” Uy who was in the relocation site earlier but left earlier for some equally important
commitment. He commended the kind effort of the Secretary in delivering the sewing machines for the beneficiaries’ livelihood programs. The ten (10) sewing machines were turned overby DG/ Secretary Guiling A. Mamondiong with DDG Alvin Feliciano and TESDA Regional Director Edgar A. Sales to recipients represented by Tessie M. Andres, the President of Dressmaking Habitat for Humanity survivors with Ruby Madriaga and Punong Barangay Joshua A. Taboclaon. TESDA Secretary Guiling A Mamondiong committed for the establishment of a training centre in the relocation site before the end of the year vis.a.vis acquition of a lot by the survivors. KUDOS.