BusinessWeek Mindanao (December 5, 2016)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 081

Market Indicators

As of 6:04 pm December 2, 2016 (friday)

FOREX

PHISIX

US$1 = P49.721

6,886.74

5.3

X X Briefly

cents

21.87 points

Disaster resillience AS one of the activities identified during the National Business Forum in Makati City on July this year, the Department of Trade and Industry (DTI) region 10 gathered 200 participants to a forum on Small and Medium Enterprises (SME) Development and Disaster Resilience in Mindanao.

DTI Undersecretary Zenaida Maglaya in a media interview said that this forum was launched to make sure that SMEs are prepared whenever disaster hits. “We want to be more prepared this time,” she said.

She explained that Mindanao specifically region 10 is not exempted from typhoons anymore.

Typhoon Sendong and Senyang in the past incurred a lot of losses, a lot of business opportunities lost where MSMEs also got affected.

Manifesto of unity MARAWI City -- Government leaders in the Autonomous Region in Muslim Mindanao (ARMM) signed a manifesto of unity on December 1, signifying their commitment as partners in good governance in the ARMM and heeding the nation’s call for real change.

The manifesto was signed by municipal and city mayors, provincial governors, and members of the regional legislative assembly during the two day 3rd ARMM Local Government Summit, which ended on Thursday at the SM Lanang Premier SMXConvention Center in Davao City.

The document was handed over to President Rodrigo Duterte after Secretary Mike Sueno of the Department of the Interior and Local Government (DILG) presented highlights of the summit.

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Mindanao biz leaders to meet in Oro in 2017 www.businessweekmindanao.com

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By MARK D. FRANCISCO, Staff Writer

AGAYAN de Oro City will once again play host to the island’s biggest gathering of business leaders and entrepreneurs in August next year.

To be lead by Cagayan de Oro Chamber of Commerce and Industry (Oro Chamber), the 26th Mindanao Business Conference (Minbizcon) is aimed at forging better

LTFRB-IMPOSED FARE RATES. Land Transportation Franchising and Regulatory Board-10 (LTFRB-10) Dir. Aminoden Al Guro and Land Transportation Office (LTO) Dir. Oscar Salcedo meet representatives from various bus operators plying Cagayan de OroBukidnon routes for the reimposition of LTFRB-prescribed regular bus fare rates. In attendance include Etta Duhaylungsod of Super 5, RTMI-Admin manager Jessie Boy P. Lentorion and Pabama manager Serjohn Panis. PHOTO BY GERRY LEE GORIT

LTFRB-10 reimposes regular bus fare rates for CDO- Buk’n routes

By GERRY LEE GORIT, Reporter

THE Land Transportation Franchising and Regulatory Board-10 (LTFRB-10) has

ordered three bus companies plying the Cagayan de OroBukidnon routes to collect

partnership between the public and the private sectors and advance policy reforms to improve Mindanao’s economy. leaders/PAGE 11

Davao Region’s workers to get P23-29 pay hike

By CARMELITO Q. FRANCISCO, Correspondent

DAVAO City -- The minimum wage in D avao Reg ion will increase by P23-29, depending on sector and a business’s number of employees, starting Dec. 16,

and by P10 on May 1 next year for retail and service establishments with up to 10 workers.

The wage hike, which hike/PAGE 11

only the exact fares imposed by the regulatory bureau.

To a v o i d u n f a i r competition among bus Rates/PAGE 7

3 editors of weekly newspaper in Surigao del Sur sued for libel

By ROEL CATOTO, MindaNews

SURIGAO City – Three editors of a weekly newspaper were reported to have gone

But Edito Mapayo, editor and publisher of Pinas into hiding after learning a Balita, a weekly publication warrant of arrest had been in Surigao del Norte, told issued against them for libel. sued/PAGE 11

BOMBED-MOSQUE. Soldiers examine the damage of the mosque in Butig town Lanao del Sur, after government troops entered the poblacion after seven days of fighting. The mosque was hit by rockets from helicopter gunships at the height of the fighting. MindaNews Photo by Froilan Gallardo

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Economy PHL sees investments influx Fisherfolks get refresher from HK by Q2 of 2017 on basic labor education B

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By Sammy F. Martin of PNA

ALINGOAN, Misamis Oriental -- The Department of Labor and Employment Regional Office No. X ( D OL E - X ) , t h r o u g h its E astern Misamis Oriental Provincial Field Office (EMO PFO) in coordination with the Local Government Unit (LGU) of Balingo an conducted a dialogue with the 150 fisher folks of Barangay Pulo, Balingoan Misamis Oriental.

DOLE-X EMO P F O He a d E r r o l A .

Nat i v i d a d s a i d t h at LGU representative

Jojo Lituanias, some of their barangay officials and the fisherfolks from the different barangays attended the dialogue.

“The activity aims to educate the members of the community on the basic labor law,” Natividad said.

“It is important that the community has the correct information on the mandated laws that governs the employeremployee relationship,” he added.

Natividad also said they informed the fisher folks, most especially

on the DOLE Integrated Livelihood Emergency Employment Program (DILEEP) program. The folks were very inquisitive on how to avail this program which is very applicable to attain a selfsustaining community,” he further said.

“Let us work together in building your community thru this program. This is for your children’s future, let us take small steps in achieving the goal in uplifting your community from poverty,” said Natividad during the event.

Nat han i el Pe r ito s , a fisher, expressed his gratitude to DOLE for conducting the event, “Daghan kaayong salamat sa DOLE nga nagbisita dinhi sa among lugar, nalipay kaayo kami!”

(Thank you very much to DOLE who visited us here, we are very happy!).

For his part, Lituanias said, “Our partnership will greatly encourage my fellow fisher folks on how to use the project as a way of improving our lives to fight poverty.”(Dundee Daing/D OLE-X EMO PFO)

The Philippines is expected to receive an inf lux of investments from Hong Kong by mid-2017 as Hong Kong nationals are fully convinced that peace and order situation in the country has improved.

Hong Kong businessmen became interested in investing in the Philippines after President Rodrigo Duterte displayed toughness against illegal drugs and criminality, which usually the source of heinous crimes.

“Now you can see peace and order is improving a lot and this is why Hong Kong businessmen now is more confident in the Philippines under the Duterte administration,” Anthony Chen, president of the Hong Kong Chamber of Commerce

of the Philippines Inc., said.

Chen said that his group was closely coordinating with Hong Kong businessmen who have already showed interests in investing in the Philippines and this group was expected to arrive sometime in April or May next year.

“Aside from improved peace and order, the bullish s h ow i ng of P h i l ippi n e economy in Asia attracts more investors to come in,” Chen said at the sideline of the 2nd Anniversary and Induction of Officers of Hong Kong Chamber of Commerce of the Philippines Inc. Friday night.

“We are interested in tourism. We want to build additional support to tourists influx/PAGE 11

RPN Radyo Ronda Stations Nationwide

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DZBS 1368 Baguio DZRL 639 Batac DZTG 621 Tuguegarao DZKI 1332 Iriga DYKW 936 Binalbagan DYKB 1404 Bacolod DYKC 675 Cebu DXKO 1368 Cagayan de Oro DXKS 1080 Surigao DXKD 1053 Dipolog DXKP 1377 Pagadian DXXX 1008 Zamboanga DXKT 1071 Davao DXDX 693 General Santos

Camiguin’s renowned Ugmad Trade and Tourism Fair will open a new during the Regional Athletic Meet on Dec. 11-16, 2016. It will be showcased to some 7000 expected guests during the regional athletic meet hosting with many delegations and participants from various parts of the Northern Mindanao region. (DTI Camiguin)

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

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Opinion

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Quo vadis?

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

Vice President for Administration

joe palabao

Vice President for Marketing

NELSON CONSTANTINO Editor-in-Chief

Cheng ordoñez

gilbert y. chao

Executive Editor

Motoring Editor JOEL ESCOL

BONG FABE

Feature Editor

Associate Editor

CLIFFORD SANTILLAN Layout Artist

JUN AYENSA

sandra encoy

Regional Editor Caraga

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This lack of vision can be fatal. We are all aware of the biblical injunction that “where there is no vision, the people perish”. We also also cognizant of the common sense dictum that “when you don’t know where you are going, any road can lead you there.”

Members of the House of Representatives are elected for three year terms while senators are elected for six year terms. In the case of the HOR, it is often said, in jest of course, that they spend the first year learning about the job, the second year working, and the third year trying to get re-elected.

With a very short time horizon, the general tendency is to focus on NOW. Not much consideration is given to what needs to be achieved farther down the road. Thus, the traditional responses to perceived problems are tactical, day-to-day and ad hoc. Not much strategic thinking going on, as far as I know.

T h e d o c u m e nt t h at comes closest to a legislative road map is the Legislative Calendar. Unfortunately, it does not say much. It merely marks the days when Congress shall be in session and when it shall be in recess.

The only value it serves is as a vacation planner.

But better late than never. The leadership in

both houses can still work out something, preferably a joint vision which will be most helpful in moving our country forward. They can even go one step farther and try to work out a national vision together with the Chief Executive.

This will ensure that the national leadership, both from the Legislative and Executive Departments, will be on the same page. Yes, they are supposed to be separate and independent of each other. But who says they can not work together.

The formulation of a national vision is just onehalf of the work. But it is the beginning. Of course, the other important half is the execution and monitoring of the plans to attain the national vision.

“El Comandante” Even in death, El Comandante Fidel Castro, who ruled Cuba for more than 50 years, continues to divide the Cuban people and the world.

Cuban Americans who were forced to flee persecution in Cuba consider him as a brutal dictator. The Cuban Americans jumped with joy upon hearing of the news of Castro’s death. But in Havana, tens of thousands flooded Revolution Square to pay their last respect for Castro.

Among world leaders,

SPEAKING

O ut

Ignacio Bunye the reaction was also mixed.

North Korea was effusive in its praise of Castro and even declared 3 days of national mourning. President-elect Donald Trump slammed Castro, but expressed hope that the latter’s passing will open a new era of relationship with the Cuban people.

Canadian Prime Minister Justine Trudeau, who earlier praised Castro, was coldshouldered at home.

As of this writing, the state funeral was scheduled to be attended only by lowerlevel foreign functionaries.

But this much is clear.

Fidel Castro will be buried in style - not in a sneaky fashion - in the city of Santiago where the Cuban re volut i on st ar te d f ive decades ago.

Note: You may email us at totingbunye2000@gmail. com. You may also “like” us on Facebook at “Speaking Out”.

Why were 1,300 Chinese allowed to work in RP?

Oro Chamber

A Brother Like That Think a minute…This is a true story about a man named Paul whose brother gave him an early Christmas present. It was a brand new car! A few days later, Paul was leaving work to go home on Christmas Eve. A boy named David was standing

by Paul’s shiny new car. He said: “Sir, is this your car?” Paul answered, “Yes, my brother gave it to me for Christmas.”

David looked surprised. He said: “You mean your brother gave it to you so it did not cost you anything? Wow! I wish…”

But the boy stopped, and didn’t finish his sentence. Paul knew David was going to say he wished he had a brother like that. But he was so surprised when the boy said: “I wish I could BE a brother like that!”

Paul then asked David if he would like to ride in his car.

“Oh, Yes!” he answered. “I’d love to!” Paul and his new friend had been riding a while when David said: “Mister, would you mind driving in front of my house?”

Paul smiled, thinking David wanted to show his friends that he was riding in a new car. David asked Paul to stop in front of a certain house. The boy jumped out of the car and ran into the house.

A few minutes later, Paul saw David coming back out carrying his crippled, little brother. He carefully sat his

Every now and then Congress comes under attack for some perceived excesses.

Latest case in point was the House of Representatives’ investigation looking into alleged wrong-doings of Senator Leila de Lima.

Observers noted that some legislators went out of bounds, asking about details of the relationship between the lady senator and her admitted lover-driverbodyguard.

All of which, according to observers, were “irrelevant” , “improper”, “in poor taste”, “inappropriate”, “bordering on voyeurism”, “blatant slut shaming”, “unparliamentary” (you name it).

Admittedly, both houses of Congress are empowered to conduct investigations “in aid of legislation” and/or “in the exercise of their oversight functions.” But where do you draw the fine line between legitimate investigations and those which are “in aid of re-election” and/or those “in aid of persecution”.

Absent such guideline, so much time is wasted in investigations which sidetrack Congress from what it should focus on.

From the peanut gallery, let me venture some reason/s why this is happening.

The short answer is: Congress does not have a clear vision of what it wants to achieve.

THINK

A Minute

Jhan Tiafau Hurst brother down on the steps in front. Sitting down next to his brother, David pointed to Paul’s new car. He said to his brother: “See that car, Buddy!

This man’s brother gave it to him for Christmas. And someday, I’m going to give you one just like it. Then you can ride in it and see for yourself all the nice Christmas things in the stores that I’ve been telling you about.”

Paul got out and lifted the crippled, little brother on to the front seat of his new car.

David climbed in beside his brother, and the three of them went on a very special and unforgettable Christmas ride.

That Christmas eve, Paul finally understood what Jesus Christ meant when He said: “You’ll be much happier and more blessed when you give than receive.” Just Think a Minute…

LIFE’S INSPIRATIONS: “… `And the Good News about the Kingdom will be preached throughout the whole world, so that all nations will hear it; and then the end will come’…”

(Jesus Christ, our God and Savior, in Matthew 24:14, the Holy Bible).

-oooWHAT IS THE MISSION OF T H E C H U RC H OF JESUS IN RP? What is the work---or the mission, if you will---of the Church that Jesus, our God and Savior, established in the Philippines, pursuant t o Mat t h e w 1 6 : 1 8 a n d Isaiah 46:11 of the Bible?

A re ad ing of t he Bibl e indicates that the Church of Jesus in the Philippines will lead in proclaiming, and thereby allowing people to be saved by, the truth that Jesus is God and Savior.

-oooT H E I S SU E I S T H E ILLEGAL CHINESE WORKERS, PERIOD! The issue that we must not lose sight of in the controversy over the alleged bribe try of online gambling operator Jack Lam against Justice Secretary Vitaliano Aguirre II and Chairman Andrea Domingo of the Philippine Amusement and Gaming Corporation (PAGCOR) is the apparent smuggling, as it were, of Chinese citizens into the country to work illegally in Lam’s casino.

In the face of the

conflicting claims of Lam, through his partners here, and of Aguirre, on whether there was indeed a br ib e of fer or not, it is clear everybody are in agreement that some 1,300 or so Chinese have been working illegally at the Jack Lam-owned Fontana Leisure Parks and Casino at Clark Freeport Zone in Clark, Pampanga.

How did these Chinese workers get into the Philippines? How come they were allowed to come here? And why did Fontana Leisure Parks and Casino allow them to work illegally, as Aguirre had been saying? Did this not violate the franchise given to Jack Lam to operate a casino and should therefore result in the cancellation of that franchise?

-oooDOJ, IMMIGRATION, MUST DISCLOSE RECORD OF CHINESE WORKERS: A n ot h e r qu e s t i on t h at Ja ck L am an d Font an a Leisure Parks and Casino must answer is: did not their franchise include a provision that requires the employment of Filipino workers in their casino?

As far as I can gather, this employment of Filipino workers by licensed foreign g a m b l i n g o p e r at o r s i s mandatorily provided for in their franchises.

O n t h e ot h e r h a n d , I suggest that Aguirre’s

department and the Bureau of Immi g r at i on shou ld disclose to the public the immigration records of the arrested 1,300 or so Chinese workers at Fontana Leisure Park and Casino.

T he publ i c has a r i g ht to k now w het her t hes e workers legally entered the Philippines, and what their qualif ications are that prompted Jack Lam to allow them to work for him.

What is more, our countrymen should also be informed as to whether anyone of those arrested a l r e a d y c a m e i nt o t h e countr y before. Sources are telling me that some of them previously came to the Philippines, worked for a while, but were deported back to China because of their inability to legalize their stay here.

-oooCHURCH OF JESUS IN RP TO PROCLAIM JESUS AS GOD AND SAVIOR: Now that it is clear that Jesus, our God and Savior, established His Church in the Philippines, the next point of inquiry should be the work or the mission of that Church. Matthew 1 6 :1 8 and Is ai a h 4 6 :1 1 clearly express this work of mission of the Church: to fulfill Jesus’ end time purpose, and that is to save souls, by proclaiming Him as God and Savior.

Matthew 24:14 attests

K akampi

Mo A ng Batas

Atty. Batas Mauricio to this, when it says that before the end of the world, the Gospel of Jesus will have to be proclaimed first to all the world. Now, what does the Gospel of Jesus consist of ? It is that He, Jesus, is God and Savior, and that He truly is God, the Father, Son, and the Holy Spirit.

The Anak ng Diyos Kadugo Ni Kristo (AND KNK, or the Children of God Blood Kin of the Christ) Church is doing this, precisely, now.

-oooPLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 H O U R S a d a y, i n t h e Philippines and the world at w w w. f a c e b o o k . c o m / angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

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CorporateWorld

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PAL to expand international network in next two years

P

HILIPPINE Airlines (PAL) is planning on exp anding its internati ona l ne twork further in the next two years, according to the Center for Asia Pacific Aviation (CAPA), adding more flights to Australia, China, the US and Europe.

In its report dated Nov. 30, the aviation think tank said PAL is looking into

nonstop flights for Brisbane and adding capacity for Sydney. The flag carrier is also said to be planning a Chengdu route in China.

In Europe, CAPA said PAL is also considering adding a second European destination in 2018, with Frankfurt and Rome under consideration.

“PAL has been able to improve its profitability, despite the rapid

international expansion -- an accomplishment that was a primary factor in being selected for the CAPA Asia Pacific 2016 Airline Turnaround of the Year Award,” it added, noting that listed PAL Holdings returned to profitability in 2014 after three consecutive years of losses.

PAL Holdings turned a record profit in 2015 and is

again on course to deliver a profit for the full year in 2016.

PAL currently serves 43 international destinations, including 20 regionally within East Asia, 10 in Australasia and the Pacific, seven in the Middle East, five in continental North America and one in Europe.

CAPA said the airline of taipan Lucio C. Tan

has launched 19 of these destinations over the past four years, including seven in the Middle East, six in Australasia and the Pacific -- Australia, New Zealand, Papa New Guinea and Saipan -- three in East Asia, two in North America and one in Europe.

This year, PAL added four international destinations, namely D oha , Kuw ait ,

Jeddah and Saipan. PAL also launched services from Cebu to Los Angeles in March 2016, and a new fifth freedom sector from Taipei to Osaka last June.

Citing a Nov. 15 interview with CAPA TV, the think tank said PAL President and Chief Operating Officer Jaime J. Bautista said the carrier plans to add capacity to its existing PAL/PAGE 10

FULL service pizza chain, Shakey’s Pizza Asia Ventures Inc. (SPAVI), which is launching a P3.96-billion initial public offering (IPO), targets to put up 20 new stores next year, as it embarks on expansion here and abroad.

SPAVI president and chief executive officer Vicente Gregorio bared this after the company signed a deal with a Middle Eastern partner for its first international franchise in Kuwait.

“It’s 10 stores for the next seven years. The first store should be up in the first half of next year,” he told reporters.

But Gregorio stressed

that while there are a lot of franchise inquiries from other countries, including ASEAN, New Zealand and Australia, the company has been cautious on these deals. “ The focus of the company is still to develop and expand the brand here in the Philippines. We will be very careful in doing that international expansion…

We have seen others grow and expand and then scale down because it did not work. We want to be having profitable franchisees, local or international,” he reasoned.

Gregorio said they will focus on expanding in Visayas and Mindanao, as well as in

provincial Luzon.

“Just here in VisMin (Visayas-Mindanao), we are underpenetrated,” he noted. “There are (also) still opportunities outside extreme northern Luzon and southern Luzon.”

SPAVI hopes to end 2016 with 184 stores, with the opening of 17 new stores this year. It expects to open 20 more new stores next year, bringing the total to 204 stores by December 2017.

“After next year, we are still seeing 12 to 15 new stores added to the system, which will sustain the growth,” Gregorio said.

He f ur t her s aid t he

company has been posting double-digit growth for the last 13 years bolstered by new store openings.

“How do you continue to grow? The main thrust to sustain this kind of an upward trajectory is to expedite our expansion for new stores,” he said.

Meanwhile, SPAVI is offering 351.9 million shares, including an over-allotment option of up to 45.9 million

shares from December 2 to 8.

Offer price is P11.26 apiece.

Listing on the Philippine Stock Exchange is set on December 15.

The country’s leading full-service restaurant chain intends to use 87.3 percent or P940.3 million of the net proceeds from the sale of primary shares to repay debt.

The remaining P137 m i l l i on w i l l f u n d t h e capital expenditures for its

commissary expansion and for relocation of its corporate headquarters.

E d u a r d o F r a n c i s c o, pre si d e nt of B anco d e Oro Capital & Investment Corp., said the share sale is “oversubscribed”.

“We are confident that we will do very well despite the Fed rate increases, OPEC (Organization of the Petroleum Exporting SHAKEY’S/PAGE 11

Shakey’s targets 20 new stores in 2017, eyes P3.96-B from IPO

Republic of the Philippines Province of Misamis Oriental Municipality of Initao -oOo-

Republic of the Philippines Region X Province of Lanao del Norte Municipality of Kapatagan

Republic of the Philippines Region X Province of Lanao del Norte Municipality of Kapatagan

NOTICE TO THE PUBLIC

Office of the Municipal Civil Registrar

Office of the Municipal Civil Registrar

CFN – 0009-2016

Date: November 21, 2016

In compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No.1 Series of 2012 (IRR on RA. 10172), Notice is hereby served to the public that MARY ANN M. DALA has filed with this Office, a petition for change of first name from “MARIAN” to “MARY ANN” and correction on entry in sex from “ “ to “ “ or correction of entry in the date of birth from “ “ to “ “ in the certificate of live birth of MARIAN A. MORENO at Initao, Misamis Oriental and whose parents are JOVENCIO A. MORENO and EMMA U. ACAIN. Any person adversely affected by said petition may file his written opposition with this Office not later than December 19, 2016

BWM: Nov. 28 & Dec. 5, 2016

(Sgd.) Isias A. Jarales Muicipal Civil Registrar

R.A. 9048/10172 Form No. (LCRO)

NOTICE OF PUBLICATION

NOTICE OF PUBLICATION In compliance with section 5 of R.A. 9048, a notice is hereby served to the public Cynthia M. Regudo has filed with this office a petition for Change of Name from Noemie to Naomi and Section 7 of R.A. 10172 from March 14, 1953 to March 13, 1953 in the birth certificate of Naomi D. Regudo who was born on March 13, 1953 at Butadon, Kapatagan, Lanao del Norte and whose parents are Fructoso Regudo and Concepcion Descar.

Any person adversely affected by said petition may file his written opposition with this Office not later 15 days.

BWM: Nov. 28 & Dec. 5, 2016

(Sgd.) IVY REYES TONGCO Municipal Civil Registrar

In compliance with section 5 of R.A. 9048, a notice is hereby served to the public Lorna Pede Lavilla has filed with this office a petition for Change of First Name from Norma to Lorna in the birth certificate of Lorna Pede Lavilla who was born on January 14, 1955 at La Libertad, Kapatagan, Lanao del Norte and whose parents are Delfin Lavilla and Juanita Pede.

Any person adversely affected by said petition may file his written opposition with this Office not later 15 days.

BWM: Nov. 28 & Dec. 5, 2016

(Sgd.) IVY REYES TONGCO Municipal Civil Registrar

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Banking&Finance Senate includes casinos in AMLA to fortify law Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

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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

GAMBLING casinos have been placed under coverage of the Anti-Money Laundering Act to give it more teeth, Senator Francis “Chiz” Escudero announced Wednesday.

In a statement, Escudero, chairman of the Committee on Banks, Financial Institutions and Currencies, said his panel report has been submitted to plenary debates and is due for sponsorship on Monday (Dec. 5), furthering amending Republic Act 9160 or AMLA of 2001.

“The inclusion of casinos in the AMLA coverage is one of the recommendations of the Financial Action Task Force (FATF), a global antimoney laundering and antiterrorism watchdog, to avoid the potential blacklisting of

the Philippines,” Escudero said.

Senate Committee Report No. 13 has now expanded its coverage to include casinos as part of the reporting bodies to the Anti-Money Laundering Council (AMLC), something which was left out in the amendments made in 2012.

Escudero said the country is rushing to comply with the prescribed global legal and regulatory framework on anti-money laundering before FATF’s assessment of the country in June 2017.

The Philippines was last assessed three years ago by the international body, which put on record strong concerns over the exclusion of the casino sector from the law.

In the amended act, the cash threshold for any

covered transactions is now anything exceeding P500,000 or US$10,000 or other equivalent monetary instrument. Also covered by the expanded law are money services business or money transfer companies, dealers of precious stones, jewels and metals, dealers of high-value items or goods and real estate developers, brokers and sales agents.

“We are talking of dealers or those entities, like lawyers and accountants acting in behalf of clients whenever they receive cash for profit or gains, exceeding P500,000.

So if they don’t want to be covered by the AMLA law, then they should transact or act in behalf of their clients with checks, not cash. Then again, checks are already

covered by the reportorial requirements of banks under AMLA,” Escudero said.

Considered high-value items under the measure are the following goods or items which value exceeds one million pesos (P1,000,000): motor vehicles, including land, air and water vehicles; art and antiques; and other luxury items such as jewelry, watches and bags.

“We put generic and catchall terms. In the original act, it simply states jewelry, with 50 percent of its value coming from the precious stone used.

But this is ambiguous and evasive-- what if you are paying for the luxury brand itself and not the stones? Then that’s already left out. There are strong calls to include casinos/PAGE 10

DBP backs Security Bank eyes Valencia City branch BANK Corp. wholesale and financial want to sustain that clip up pipe fitting SECURITY (Security Bank) is on track markets,” Mr. Salcedo said. through 2020,” Mr. Salcedo He added that Security said. with its target to expand its business, This is in line with the presence in the countryside, Bank has recently opened two bulk of its new branches provincial branches: one in bank’s aim of expanding its grants P5-M with next year set to be located Valencia City in Mindanao branch network to 450 to and the other in Tarlac City. 500 by “because we really Metro Manila. loan to firm outside “67% or 70% of the new This brought its current think digitization should THE Development Bank of the Philippines (DBP) has granted a P5-million loan to Tung Fong Industrial Co., Inc. to finance the manufacture, and increased production output, of its stainless steel buttweld pipe fittings product.

Wit h it s 2 1 ye ar s o f e x p e r i e n c e , Tu n g Fong Industrial Co. has established itself in the steel manufacturing industr y, according to a DBP press rele as e. The company has one of t he w i d e st production ranges in the industry, producing fittings in the shape of elbows, tees, reducers, stub ends, and caps, with sizes ranging from ½ inch to 12 inches. loan/PAGE 10

branches will be outside Metro Manila... and Mindanao will be one of the major recipients,” Security Bank President and Chief Executive Officer Alfonso L. Salcedo, Jr. said in an interview last week when asked for the bank’s target number of provincial branches by next year.

“S o o u r p r o v i n c i a l expansion has really been on track. We know the provincial branches that we will be opening next year and so that’s on track,” he added.

The plan is aligned with the listed bank’s goal to continue expanding its retail banking business.

“We continue to build the retail banking business as a third pillar to compliment

branch network to 283.

Amid the bank’s expansion outlook, Mr. Salcedo, however said that the bank wont be able to meet its initial target of ending 2016 with 292 branches as it is expected to fall short by one office that will open in January instead.

“We might end up [with] 291 [branches this year], because we will open [the new branch] first week of January, maybe,” he said when asked if the bank will meet its target number of branches this year.

This means the listed bank will only be able to open 29 new branches this year, short of its target of 30 new offices, but “next year we’re looking at 30, 35, so we

kick in and as we speak, we’re working on having a very robust digital platform,” the official added.

The listed bank saw its bottom line in the third quarter reach P1.8 billion, 26% higher from the yearago level of P1.42 billion on the back of a 27% rise in net interest income to P4.1 billion from P3.24 billion in 2015.

In the first nine months, the bank’s net income went up 9% to P6.6 billion from the P6.1 billion it earned in January-September 2015 due to higher net interest and operating income.

Security Bank remained the sixth largest lender in the branch/PAGE 10

How can patients prevent medication errors?

I n the P h i l i p p i n e s , 79 p ercent of p at ients experienceat least one error during their medication period. Such errors may cause the patients to experience adverse drug reactions, aggravation of illness or worst, death.

Given this risk among p at i e nt s , PharexHealthCorp.—the most prescribed unibranded generic medicines— encourages them to be aware of the prevalent medication errors, such as incorrect f re qu e nc y and t i m i ng , improper administration, discrepancy in dosage and intake of the wrong drug, among others.

Such lapses in medication are caused by three factors.

First is poor communication between health care

providers. This happens when a patient visits different health care provider, but does not inform the new provider of his medication history. Secondly, medication error also happens when a p hy s i c i a n d o e s n o t clearly make his patient understand the prescribed medication. Finally, there are medication names and m e d i c a l a b b r e v i at i o n s that soundalike, causing confusion and incorrect usage.

“Medication errors make the condition of the patients even worse. Such errors could causehospitalization that will result in lost productivity and money that could be used for other household expenses like food, house rent, or education. This is the reason why patients

and their caregivers need to understand how vital it is to prevent medication errors,” said Tomas Marcelo Agana III, President and CEO of PharexHealthCorp.

To h e l p p a t i e n t s properly adhere to their prescribed medications and avoid errors that could worsen their conditions, PharexHealthCorp. developed the Pharex CP15.

It is a 15-day compliance pouch intended to make intake of medicine simpler as quality medicines good for

two weeks are sealed together in a water-resistant pouch.

Agana concluded, “Fi lipino p at ients may count on us as we are dedicated to innovate and provide solutions that will help decrease the risk of medication errors.It is our mission to assist them in improving their conditions and have a healthy life.”

Pharex CP15 are all available in any leading drugstores. For more details, kindly contact 433-8088 (local 820).

9

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Monday|december 5, 2016

Tax Reform Roadshow for MSEs held in CDO

By Jasper Marie Oblina-Rucat

(BIR) and Bureau of Customs (BOC).

According to her, 4.66million or 83.1% of the population will benefit from the proposed tax system. This population consists of employees or workers that earn an annual taxable income including 13th month pay and other benefits and de minimis and other non-taxable income (PERA) minus mandatory contributions of P250,000 and below.

Habitan said that proposed tax policy package one will have no effect to on Minimum Wage Earners. Further, entry-level workers with above minimum wage shall not have to pay an income tax.

This package will reduce personal income tax (PIT) maximum rate to 25% over time, except for the highest income earners to maintain progressivity. Through this, there will also be a shift to modified gross system to simplify PIT system.

However government has also looked into measures to

CAGAYAN DE ORO CITY – USAID-Facilitating Public Investment (FPI) Project, in partnership with the Department of Finance (DOF) and the Philippine Chamber of Commerce and Industry (PCCI), conducted in Cagayan de Oro one of its series of Tax Reform for Micro and Small Enterprises (MSEs) roadshows entitled “Deepening Understanding on Tax Reform for Micro and Small Enterprises (MSEs),” 28 November.

DOF Assistant Secretary Maria Teresa Habitan, in her presentation, explained that a tax reform is needed to fund the ten-point socioeconomic agenda of the Duterte administration.

She said that this tax policy reform will create a simpler, fairer and more efficient tax system characterized by low rates and broad base that can promote investment, job creation and poverty reduction.

She said there will also be tax administration reforms in the Bureau of Internal Revenue

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL SUR 12th Judicial Region Branch 09 Hall of Justice, Marawi City IN THE MATTER OF CANCELLATION OF THE CERTIFICATES OF LIVE BIRTH OF FARINA NAGA SACAP under Registry No. 2001-239 FARINA NAGA SACAP assisted by Her mother LORAINIE M. NAGA,

Petitioner,

-versus-

SPECIAL PROC. NO. 2379-16

THE ADMINISTRATOR AND CIVIL REGISTRAR GENERAL OF THE PHILIPPINE STATISTICS AUTHORITY AND THE CIVIL REGISTRAR OF BUBONG, LANAO DEL SUR,

Respondent.

X------------------------------------------------X ORDER Before this Court is a verified petition for Cancellation of the Certificate of Live Birth of one Farina Naga Sacap, Petitioner’s Certificate of Live Birth which was registered on July 15, 2001 with the Office of the Civil Registrar of Bubong, Lanao del Sur allegedly contained erroneous entries as to her middle name and surname which was inadvertently entered as Maunte and Naga respectively.

Finding the aforesaid petition to be sufficient in form and substance, it is hereby ordered that the same be set for hearing on February 9, 2017 at 8:30 o’clock in the morning.

Let a copy of this Order be published at the expense of the petitioner n a newspaper of general circulation in Marwi City and Iligan City for three (3) consecutive weeks.

The Civil Registrar of Marawi City, Lanao del Sur, and the Civil Registrar General, Philippine Statistics Authority, Quezon City or any person or party who has an interest in the petition, may file his/her opposition thereto within fifteen (15) days from notice of the petition or from the last day of publication of this Order.

Further, let this Order be posted for fifteen (15) days prior to the date of hearing on Bulletin Board of the City Hall of Marawi City, Lanao del Sur, Bulletin Board of Municipality of Bubong, Lanao del Sur; and the Bulletin Board of this Court, also at the expense of the petitioner.

Serve copies of this Order, and copies of the petition dated May 18, 2016 and its annexes, to the Civil Registrar of Bubong, Lanao del Sur, the Honorable Solicitor General OSG, Makati City and the Philippine Statistics Authority, Quezon City.

SO ORDERED Marawi City, Lanao del Sur, Philippines, November 10, 2016

BWM: Nov. 28, Dec. 5 & 12, 2016

(Sgd.) SITTIE LAARNI R. UMPA Presiding Judge

enhance revenue. The proposal is to expand the VAT base by limiting exemptions to raw food and other necessities.

There will be an increase on all petroleum products and index to inflation (diesel and essentials from 0 to 6 pesos per liter, gasoline and non-essentials from around 4.35 to 10 pesos per liter) and increase excise on automobiles.

Further, Lawyer Benedicta Du-Baladad, co-chair of PCCI Taxation Committee shared that tax reform policy should simplify, clarify rules on deduction and remove, minimize areas for discretion. There should also

be reasonable limitations on rates of withholding tax, automatic zero-rating for inputs of zero-rated transactions.

Pay and file anywhere, reduce frequency of filing, simplify forms and simplify reportorial requirements.

She said that this is important since Micro Enterprises (not more than P3M in asset) comprise 89.78% of the total MSME population in the country.

Further, she said tax system must be customized to the profile and behavior of its taxpayers. Medium and Large taxpayers are ready for a more equitable income-

based taxation while MSMEs who cannot keep up with the requirements of an income based taxation may be more comfortable with a simplified ‘presumptive taxation.’

For her part, Malou Lim of Tax Management Association of the Philippines (TMAP) says that the need for a tax reform in the country is important because compared to neighboring ASEAN, Philippines imposes a rate of 32% for a P500,000 income.

Meanwhile Vietnam is 32% for P2M, Indonesia is 30% for P1.6M, Thailand 35% for P5.2M, Malaysia 25% for P4.3M and Singapore 20% for

P10.6M income. Meanwhile, for corporate taxes, Philippines is still the highest at 30% compared to ASEAN countries.

She added that one of the reasons why there is a low level of tax compliance is high tax rates and penalties not encouraging for start-ups and Micro Small and Medium Enterprises (MSMEs) to register and pay.

Meanwhile, she says that taxpayers can help by talking about tax reforms with the community, leaders and legislators and compute tax due using the proposed tax brackets and voice your comments.

(JMOR/PIA10)

10

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Monday|december 5, 2016

PAL... from page 6

Chinese destinations and is looking at Chengdu as its next destination with service from Manila potentially launching in 2017. “ We a re l o o k i n g at Chengdu as a new destination in China,” Mr. Bautista told CAPA T V. “We are also looking at more charter flights from other cities in China to secondary cities of the Philippines like Kalibo, Puerto Princesa and Bohol.

We want to fly more tourists from China. We are very optimistic [with] the Chinese market.”

CAPA noted that PAL is still a “relatively small player” in China with less than 11,000 weekly seats, but is the market leader, capturing almost a 30% share of total scheduled seat capacity between the two countries. PAL launched a Guangzhou flight in 2013 and Quanzhou in 2015, giving it five Chinese destinations along with Beijing, Shanghai and Xiamen.

“PAL is keen to maintain its market leader status as demand soars, driven by new and much friendlier China-Philippines relations that are expected to lead to

a surge in inbound demand.

Inbound visitor numbers from China are expected to quick ly sur pass one million, compared to less than 500,000 in 2015,” its report said.

CAPA said China now accounts for less than 6% of PAL’s international seat capacity, with Japan and South Korea as the carrier’s largest markets and bigger s ource markets for the Philippine tourism sector but “China has huge growth opportunities.”

The report further noted that Hong Kong is PAL’s third largest international market followed by the United States, the United Arab Emirates and Singapore while China is now PAL’s seventh largest international market.

PAL Holdings saw a net loss of P2.009 billion i n t h e qu a r t e r e n d i n g September from a P251.257million income during the comparable period in 2015, its quarterly report showed, which the company attributed to stiff competition and the “lean season” for the airline industry.

PAL, nonetheless, still posted a profit in the ninemonth period, recording a P2.599-billion net income in first nine months of 2016.

Republic of the Philippines REGIONAL TRIAL COURT – 10th JUDICIAL REGION Branch 42, Medina, Misamis Oriental -oOoIN THE MATTER OF THE PETITION SP. PROC. CASE 3332-M FOR CORRECTION OF ENTRY IN THE RECORD OF BIRTH OF ANACORITO SIXTO TABID IN THE CIVIL REGISTRY, CHANGING HIS YEAR OF BIRTH FROM 1962 TO 1952, ANACORITO SIXTO TABID, Petitioner, -versusLOCAL CIVIL REGISTRAR OF THE MUNICIPALITY OF SUGBONGCOGON, MISAMIS ORIENTAL, Respondent. x--------------------------------------------------------/ ORDER Before this Court is a verified petition filed by ANACORITO SIXTO TABID of Salay River-II, Salay, Misamis Oriental, born at Sugbongcogon, Misamis Oriental to Aquelio Tabid (father) and Cristina Sixto (mother), seeking to correct an erroneous entry in his Certificate of Live Birth, that is, his Birth Year from 1962 to 1952.

The Court finds the petition sufficient in form and substance and sets the same for hearing on January 18, 2017 at 8:30 oçlock in the morning, (Wednesday), at Branch 42, Regional Trial Court (RTC), Medina, Misamis Oriental.

At the expense of petitioner ANACORITO SIXTO TABID, let a copy of this Order be – I. Posted at the (1) Bulletin Board of the Municipal Hall of Sugbongcogon, Misamis Oriental, (2) Bulletin Board of Bgy. Kidampas, Sugbongcogon, Misamis Oriental, and (3) Bulletin Board of this Court.

II. Published, once a week for three (3) consecutive weeks, in Mindanao Daily News, located at Tanleh Bldg., Abellanosa St., Consolation, Cagayan de Oro City, the Court’s duly accredited newspaper of general circulation in the Province of Misamis Oriental.

The Local Civil Registrar of Sugbongcogon, Misamis Oriental, or any interested person claiming interest on the entry sought to be corrected may file opposition within fifteen (15) days from notice of the petition or from the last date of publication of such notice.

Lastly, the Court grants the request of petitioner ANACORITO SIXTO TABID. He is allowed to litigate his petition as a pauper-litigant, hence, is exempt from payment of docket and other legal fees and be charged at cost only on the required publication.

So ordered.

Done in Chambers on November 21, 2016 at Medina, Misamis Orioental.

(Sgd.) JUDY A. SIA-GALVEZ Presiding Judge MCLE Exempt # V-000789 10/27/15

BWM: December 5, 12 & 19, 2016

Casinos... from page 8

luxury car dealers, but those who deal choppers and planes and yachts will also be left out, so we phrased the inclusion as high-value goods to cover all,” the senator explained.

Committee Report No. 13 also strengthens the power of AMLC to investigate motu propio, or upon the request of appropriate departments or agencies, transactions deemed suspicious for possible money laundering-activities.

The AMLC is already being empowered to file, directly through the Office of the Solicitor General, or before the Court of Appeals a petition for a freeze order a g a i n s t a ny m o n e t a r y instrument or property deemed laundered.

The AMLC can also already subpoena any person and compel his/her attendance to produce information for verification and investigation in compliance with AMLA. Escudero scored the importance of complying with the country’s commitments to the FATF action plans and to earn its approval after its review next year, as millions of our overseas Filipino workers will be the frontliners in feeling the impact of a positive or negative review.

“We are rushing to sponsor this and hopefully pass the measure by first quarter next year, to comply in time for the review. Otherwise, global remittances of our

millions of overseas workers will go through scrutiny and difficulties,” Escudero said.

Loan... from page 8

With its raw material and final product conforming to the dimensions, physical, and chemical requirements of the American Society of Mechanical Engineers, Tung Fong Industrial Co. has found a lucrative market in the US. The stainless steel welded tube and pipe market is one of the most important segments of the whole stainless steel market.

Last year, it accounted for 13% of the worldwide stainless steel flat products, and 10% of the total stainless steel market.

The loan is in line with DBP’s thrust to support sustainable projects that generate jobs and spur business activity, especially in the manufacturing industry.

Branch... from page 8

country in terms of assets as of June with a P613.764billion asset base due to the P36.9 billion in capital infused by Bank of TokyoMitsubishi UFJ last April 1 after it bought a 20% stake in the local bank.

Its total assets stood at P680 billion as of September.

VISIT OUR WEB PORTAL

EXTRAJUDICIAL SETTLEMENT OF ESTATE KNOW ALL MEN BY THESE PRESENTS: This AGREEMENT, made and executed in the Cagayan de Oro City, Philippines, by and among CHONA N. ROPA, of legal age, married to Napor B. Roa, Filipino citizens, and with residence and postal address at Tagoloan, Misamis Oriental; NELYBETH N. TUMARA, of legal age, married to Walter B. Tumara, Filipino citizens, and with residence and postal address at Kauswagan, Cagayan de Oro City; MADOLINE P. LEPON, of legal age, married to Amario O. Lepon, Filipino citizens, and with residence and postal address at Tagoloan, Misamis Oriental; SUSAN N. VILLAMOR, of legal age, married to Dionisio Villamor, Filipino citizens, and with residence and postal address at Tagoloan, Misamis Oriental; RONNIE N. PADERNA, of legal age, married to Elma C. Paderna, Filipino citizens, and with residence and postal address at Tagoloan, Misamis Oriental; A PARCEL OF LAND, Lot 21-B, being portion of Lot 21, PLS-799 situated in Barrio of Sta. Cruz, Municipality of Tagoloan, Province of Misamis Oriental, Island of Mindanao. Bounded on the E., along line 1-2 by Lot 26, PLS-799; on the SE., along lines 2-3-4-5-6-7-8-9-10-11-12 by Lot 21-C of Francisco Nabong; on the W., along lines 12-13-14 by Tagoloan River and on the NW., along lines 14-15-16-17-18-19-20-21-22-23-24-25-1 by Lot 21-A of Francisco Nabong. Beginning at the point marked ‘’1’’ n the plan being N. 13 deg. 37’ E., 916.86 meters from BLLM No. 1,PLS 799 to corner ‘’1’’.

Thence: 1-2 S., 12 deg.

07’ W., 5.31m.

2-3 S., 87 deg.

18’ W., 15.20m.

3-4 S., 78 deg.

13’ W., 15.16m.

4-5 S., 59 deg.

20’ W., 7.69m.

5-6 S., 47 deg.

26’ W., 1.00m.

6-7 S., 48 deg.

59’ W., 12.80m.

7-8 S., 48 deg.

59’ W., 11.74m.

8-9 S., 51 deg.

58’ W., 27.95m.

9-10 S., 43 deg.

32’ W., 70.63m.

10-11 S., 29 deg.

45’ W., 18.37m.

11-12 S., 63 deg.

22’ W., 10.84m.

12-13 N., 28 deg.

45’ W., 0.62m.

13-14 N., 67 deg.

36’ W., 26.99m.

14-15 N., 63 deg.

23’ W., 5.17m.

15-16 N., 29 deg.

45’ W., 5.17m.

16-17 N., 28 deg.

20’ W., 50.90m.

17-18 N., 43 deg.

32’ W., 22.04m.

18-19 N. 51 deg.

58’ W., 14.55m.

19-20 N., 48 deg.

17’ W., 25.53m.

20-21 N., 52 deg.

40’ W., 8.18m.

21-22 N., 58 deg.

34’ W., 6.90m.

22-23 N., 53 deg.

43’ W., 4.42m.

23-24 N., 78 deg.

13’ W., 10.95m.

24-25 N., 86 deg.

26’ W., 20.44m.

25-1 N., 83 deg.

56’ W., 2.21m.

Containing an area of ONE THOUSAND ONE HUNDRED FORTY SEVEN (1,147) sq.m. more or less, all points reffered to are indicated on the plan and marked on the ground by hub. Under the Notary Public of ATTY. STALIN A. BAGUIU, per Doc. No. 149; Page No. 30; Book No. 28; Series of 2016.

BWM: December 5, 12 & 19, 2016

11

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Monday|december 5, 2016

Leaders... from page 1

Speaking during the induction of new officials of Oro Chamber last Friday, incoming president Robertino E. Pizarro said he sees year 2017 as a bright year for Northern Mindanao’s economy.

Mr. Pizarro said that with Mindanaoan President Duterte at the helm, the priority for for both domestic and foreign investments would be in this island.

“The President has been busy enticing investors abroad. I’m confident that 2017 will be a big year for us because we are the gateway to Northern Mindanao,” he said.

Oro Chamber boasts of more than 300 micro, small and medium enterprises (MSMEs) members in this region which has generated P3.16 billion in new investments last quarter.

Under the leadership of outgoing president Jeffrey T. Ang, Oro Chamber has racked up 28 new members, a 7.9% increase from the previous year.

Mr. Pizarro said the business sector in Cagayan de Oro must collectively support the Duterte administration’s investment thrusts and Minbizcon will be one such avenue “on how to make lasting impressions to wouldbe investors.”

The annual gathering usually tackles topics as broad as discussions on economic issues, policies and opportunities concerning the socioeconomic welfare of the whole island. Recognized as the most relevant business gathering in Mindanao, Minbizcon br idges t he organization to local counterparts in the domain of trade and cooperation.

D u r i n g M r. A n g ’s term, Oro Chamber has inked agreements with the United States Agency for International Development (USAID) for a P15-million agro-forestry project; built partnerships with the Departments of Science and Technology, and Social Welfare and Development; generated P1.2 million in sales from its yearly exhibit output called ORO BEST; successfully lobbied for the expansion of the highway leading to the local airport; among many others.

Hike... from page 1

comes two years after the last increase that took effect Dec. 1, 2014, is contained in the Regional Tripartite Wage and Productivity Board’s (RTWPB) order approved on Nov. 4 and published on Dec. 1.

The region’s impending wage hike compares to the P11 under the order that took effect on June 1, 2014.

The region consists of the cities of Davao, Digos, Island Garden of Samal, Tagum, Panabo and Mati, as well as the provinces of Davao del Sur, Davao del Norte, Davao Oriental and Compostela Valley.

Employees of nonagricultural, industrial, commercial, retail and service establishments with more than 10 workers will get a P335 basic wage from the current P312, while those in businesses with up to 10 workers will get P310 from P281.

Retail and ser vice establishments with up to 10 employees will have to add P10 on May 1.

Agriculture workers, meanwhile, get a P28 increase to P330 from P302.

The P5 cost of living allowance already in place for all sectors since Dec. 2014 will be retained.

LOST PURCHASING POWER The RTWPB said in its order that the new round of increaseS was based on the “need to restore the lost purchasing power of minimum wage earners in Davao Region for them to cope with the rising cost of living without impairing productivity and viability of business and industries.”

The new wage order resulted from the petition filed earlier this year by the Trade Union Congress of the Philippines, which was seeking an additional P163 increase per day.

The Davao City Chamber of Commerce and Industry had opposed the petition, saying it was untimely as employers have yet to recover from the impact of the dry spell that hit the region late last year until mid-2016.

Latest available data from the Philippine Statistics Aut hor it y showe d t hat inflation in Davao Region steadied at 3.6% in October from September, compared to the country’s 2.3% for the latest month and 2.4% for areas outside Metro Manila.

Inflation in Davao Region in October was outpaced only by Central Visayas (4%) and the South CotabatoCotabato-Sultan KudaratSarangani-General Santos City (Soccsksargen) region (3.7%), while the country’s other 15 regions logged lower rates.

Inflation in Davao Region was fueled particularly by an increase to 4.3% in October from September’s 4.1% in food and non-alcoholic beverages that cumulatively contribute the biggest chunk -- 32.2% -- to the theoretical basket of goods and services widely used by a typical household on which inflation is calculated.

Rates...

from page 1 operators, LTFRB-10 regional director Aminoden Guro said they have decided to re-impose the original fare for buses plying to and from the cities of Malaybalay and Valencia, and Maramag, all in Bukidnon.

In a meeting with representatives from Rural Transit Mindanao, Inc. (RTMI), Super 5 and Pabama, the operators agreed to abide by the fare rate implemented

by LTFRB. Un d e r t h e LT F R B imposed tariff, the fare

for the Cagayan de OroMalaybalay and vice versa is P150, while the special privilege rate for students and senior citizens is P120; Cagayan de Oro-Valencia, P200, special privilege is P160; and Cagayan de OroMaramag, P240, special privilege is P190.

These fares took effect Dec. 1 but the operators have asked the LTFRB-10 to implement it Monday, Dec. 5, to give them time to inform the riding public.

Guro said they have received complaints from some bus operators that their competitors have lowered the fare by as low as P90 in the guise of a “special promo” rate.

While this practice has benefited the riding public, Guro said it has affected the income of the smaller business operators who cannot afford to lower their ticket prices.

He said the agency is optimistic that the bus operators will comply with the tariff as they will penalize those who fail to observe the fare rate.

For the first offense, the violator will be fined P5,000; second offense, P10,000 and impounding of unit for 30 days; third and succeeding offense, P15,000 and cancellation of franchise.

Jessie Boy Lentorio, RTMI administrative manager, said they are glad that all the operators were unanimous in their decision to implement the exact fare rate imposed by the LTFRB. “We are happy that we (bus firms) have come to an understanding,” Serjohn Panis, Pabama manager, who added that there should be a healthy competition among bus operators and the lowering of fares will be eliminated.

Panis said if the fare wars will go on, Pabama could not sustain their operations due to reduction of their revenue.

For her par t, Etta Duhaylungsod, the Super 5 manager, said it is her hope that the other bus companies will follow the original tariff enforced by the LTFRB-10.

Sued... from page 1

MindaNews in a telephone interview that he is raising funds for their temporary liberty in case they will be arrested. The bail bond has been pegged at P10,000 each.

Mapayo said he will exhaust all legal remedies to have the libel case against them dismissed, claiming the report they published was not libelous.

The warrant of arrest was issued by the Regional Trial Court Branch 29 here.

Businesswoman Elizabeth Matugas, who ran for mayor in the municipality of Dapa in Siargao Island, sued Mapayo, news editor Paul Boncaros and managing editor Jun Ramirez for libel.

Matugas, sister of incumbent Rep. Francisco Matugas (1st District, Surigao del Norte) and Surigao City Mayor Ernesto Matugas, lost in the election against Peter

Boy Ruaya, a former mayor for Dapa, by a slim margin.

The cas e was b as e d on a report in the weekly newspaper’s Feb. 8-14 issue which alleged that Matugas has not been paying the owners of several lots in Mt. Patag, Barangay Jubgan, San Francisco town in Surigao del Norte where she reportedly operated an illegal mining activity in 2014.

Matu g as d e n ie d t he allegations.

Matugas accused the three of allegedly “conspiring and confederating with each other, knowingly, intentionally, and feloniously, with intent to discredit or cause dishonor CAGAYAN DE ORO MAIN BRANCH or contempt.”

P & J Lim Bldg., Tiano Brothers Sts., SheTel.Kalambagohan alleged that “the # (08822) 727-829 * Telefax # (088) 856-1947 wicked article of the CAMIGUIN BRANCH respondents portrayed B. Aranas St., Poblacion, Mambajao,me Camiguin Tel. # (088) 387-0491 as a villain, a swindler and a BRANCH cheat. …CORRALES TheCagayan ignominy Corrales Ave., de Oro Cityof it all is theDIVISORIA fact that I was not BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. even involved in the supposed Velez St., Cagayan de Oro City Tel. # (088) 857-3631 illegal transactions.”

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City The businesswoman also Tel. # (088) 231-6739 claimed CARMEN that the report on BRANCH Vamenta Blvd., Cagayan de Oro City a “trivialized alleged event” Tel. # (088) 231-2011 that transpired in 2014 was obviously meant to discredit her in the coming elections.

But Mapayo said the complaint filed by Matugas should not have gone to court because their story was “not libelous.”

He said the article, “based on interview with a public official involves matters of public concern. It was newsworthy and thus it was only proper and appropriate for us to disclose the story to the public. And there was no malice in our article,” he said.

Matugas filed a separate complaint for a civil case and demanded 5 million pesos for the libel suit against Mapayo and company.

go out to other countries, there are many uncertainties there,” he stressed.

Accord i ng to C he n, working with your loved ones on your side is priceless while working abroad is a big sacrifice.

He did not give any figures on how big Hong Kong businessmen can invest but reminded that they have already started investing in Bataan and other economic zones in the country. (PNA) RMA/SFM

Shakey’s... from page 6

Countries’) deal to reduce production. This is a very stable company with good growth prospects so we are sure it will (also) do very well post-IPO. IPO substantially is oversubscribed so we are happy about that,” he said in an interview.

BDO Capital was tapped as one of the joint lead managers and joint domestic underwriters.

CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011

DEED OF EXTRA-JUDICIAL PARTITION OF ESTATE WITH DEED OF ABSOLUTE SALE KNOW ALL MEN BY THESE PRESENTS: That we, HEIRS OF ANESIO A. BORRINAGA, namely: BRAULIA C. BORRINAGA, of legal age, widow, Filipino; ELLAINE C. BORRINAGA, of legal age, single Filipino; JOEL C. BORRINAGA, of legal age, single, Filipino; and JAY MARK C. BORRINAGA, of legal age, single, Filipino and residents of 6th Div., Patag, Cagayan de Oro City, referred to as the HEIRS-VENDORS; - and GEMMA S. RONQUILLO, likewise of legal age, single, Filipino and resident of 6th Div., Patag, Cagayan de Oro City, referred to as the VENDEE, after being duly sworn, hereby, MANIFEST: 1.

That we are the only, sole, legitimate, forced and surviving legal heirs of the late ANESIO A. BORRINAGA, who died intestate on January 27, 1997 at Cagayan de Oro City, Misamis Oriental;

Influx...

2.

That to the best of our knowledge and information the deceased left no will and no known debts which remain unpaid whatsoever;

like hotels, restaurants and transportation,” he added.

He recalled that during the 70s to 80s, Philippines was the favorite destination of Hong Kong tourists. "We shifted to Singapore, Thailand and other Asian countries because of the deteriorating peace and order,” he pointed out.

He said it would be better if Congress passed a measure that repealed the 60-40 rule on land ownership and businesses.

“You know in the US and Hong Kong, you can buy parcel of lands even if you are a tourist. You cannot bring the Philippine soil to Hong Kong. Maybe it is high time to consider this,” the new President of the chamber said.

He said that giving local and foreign investors equal footing and allowing them to compete would surely attracts more investors that generate more jobs to Filipinos.

Wit h t h i s , h e s a i d , Filipinos would think twice or trice before they decide to go abroad to look for greener pasture.

“If there are jobs available, Filipinos will stay in the country even if they receive a little lesser salary compared to other rich nations. Why

3.

That the deceased at the time of his death left a parcel of land, which area is the subject of the sale and more particularly described as follows to wit:

from page 2

Transfer Certificate of Title No. T-53566 “ A PARCEL OF LAND, (Lot 8, Blk. 5, Pcs-10-000599, being a consolidation & subdivision of Lots 22051-C,4352-A, Psd-10-010426), SITUATED IN THE Barrio of Patag, City of Cagayan de Oro, Island of Mindanao. Bounded on the NW., along line 4-5, by Foot Path 10.; on the NE., along lines 5-6-1, by Lot 9; along line 1-2, by Lot 10; on the SE., along line 2-3, by Lot 6; on the SW., along 3-4, by Lot 7, all of Block 5, of the Consolidation Subdivision plan Pcs-10-000599; Beginning at the point marked “I” on the plan, being S. 24 deg. 36’E., 676.70m from BBM No. 11, Cad-237, Cagayan Cadastre; thence: x x x x x x x x x x x x x x x x x x x x. Containing an area of Eighty Six (86) SQUARE METERS,more or less.”

4.

That by virtue of Rule 74, Section 1, Rules of Court, we herby divide, adjudicate and partition among ourselves in pro idiviso equal shares the entire estate above described; DEED OF ABSOLUTE SALE That for and in consideration of the sum of TWO HUNDRED FIFTY THOUSAND (P250,000.00) PESOS, Philippine currency, receipt in full is hereby acknowledge from the Vendee, to the entire satisfaction of the Heir-Vendors, we hereby CEDE, SELL, TRANSFER and CONVEY as by these presents, do hereby CEDED, SOLD, TRANSFERRED and CONVEYED successors-in-interests, free from all liens and encumbrances, whatsoever.

The parties further state that they have complied with the provisions of Article 1621 and 1623 of the New Civil Code by giving notice to adjacent owners.

(Sgd.) BUENAVENTURA B. SAGRADO Notary Public Until December 31, 2017

Doc No: 88 Page No: 18 Book No: 116 Series of 2016 BWM: Nov. 21, 28 & Dec. 5, 2016

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Monday|december 5, 2016