BusinessWeek Mindanao (December 7, 2016)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 082

Market Indicators

As of 6:12 pm December 6, 2016 (tuesday)

FOREX

PHISIX

US$1 = P49.61

6,806.14

9.9

X X Briefly

cents

29.73 points

Armm program fund MARAWI City -- Local government units (LGUs) in the Autonomous Region in Muslim Mindanao (ARMM) pledged a total of P4.196 billion to fund programs for their constituents in support of the ARMM Regional Development Framework 2016-2019.

Local officials from across the region drafted the programs, projects, services and activities (PPSA) during the 3rd ARMM Local Government Summit held from November 30 to December 1 at the SM Lanang Premier’s SMX Convention Center in Davao City.

Atty. Noor Hafizullah Abdullah, ARMM’s Interior and Local Government Secretary, said the development framework represents the aspirations of the ARMM constituents reflecting different concerns in every province and town.

Mindanao filmfest DAVAO City -- The 12th Mindanao Film Festival will open this December 7 (Wednesday) at Gaisano Mall Cinema 6.

The formal opening film of the festival will be the fulllength movie “Baboy Halas” (Wild Boar) which was shot in the forests of Marilog District in Davao City.

The film which revolves around a family of Matigsalug forest-dwellers, was produced thru a grant secured from the Quezon City Film Development Council as it is one of the 8 finalists in the 2016 QCinema International Film Festival held in Quezon City.

Baboy Halas was awarded Jury Prize by the Network for the Promotion of Asian Cinema (NETPAC) and Best Artistic Contribution for Cinematography during the 2016 QCinema.

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Ayala reaffirms support for SMEs in Mindanao www.businessweekmindanao.com

O

Wednesday | December 7, 2016

By JIGGER J. JERUSALEM, PNA

NE of the biggest companies in the country has showcased some of the more successful small and medium enterprises that it has helped grow and prosper in an event titled “Accelerating the Future with our SMEs” held at a mall here.

Rene Almendras, Head of the Ayala Corporate Public Affairs, said Tuesday that the presentation indicated that Ayala Corporation has reaffirmed its role as the country’s prime movers in the country’s community development.

He said that in carrying the mission, the Ayala Group has

introduced three important approaches - developing potentials, making business better, and improving the quality of life.

In a video presentation, several of the people that had been served by Ayala Group through its various subsidiaries recounted how ayala/PAGE 9

Waste-to-energy projects detrimental to environment and human health – expert

By ANTONIO L. COLINA IV, MindaNews

DAVAO City -- Waste-toenerg y (W TE) projects produce the most toxic chemical substances that are detrimental to environment and human health, a former chief technical advisor on Global Environment Projects of t he Un ite d Nat i ons Development Programme, said.

“A l l t h e r m a l W T E technologies produce the most toxic substances known to Science. I am a scientist and also an engineer. In Science, the most toxic chemical we know are a group of

compounds known as dioxins.

Dioxins are produced by all of these WTE technologies,” Dr. Jose Emnnauel told a press conference on Monday.

Waste-to-energy is the process of producing energy in the form of electricity and/ or heat from the incineration of waste E m m a nu e l s a i d t h e Philippines does not have the capability yet to manage any WTE technology and commission vigorous and expensive testing to monitor t h e l e v e l of t h e W T E projects/PAGE 9

BELEN. Residents take photos of a life-size Belen in front of a big hotel in Kidapawan City. MindaNews photo by Geonarri Solmerano

Assess ‘protection systems’ to lessen brownouts, NGCP told

By MYRNA M. VELASCO, Contributor

AS explosion at its substation was directly tagged as the cause of the November 1 5 ro l l i n g brow n o ut s , system operator National Grid Corporation of the Philippines (NGCP) was directed to review and assess the operation and specifications of its protection systems so it will not trigger another round of pestering service interruptions in the future.

This has been contained in the memorandum submitted by the investigation body to Energy Secretary Alfonso G. Cusi, summing up the incident report relating to last month’s power outages.

In the report, it was specified that “the explosion of the San Jose substation capacitor bank 1 power circuit breaker (PCB) CB04 is deemed the root cause of the Luzon grid significant

i nci d e nt on Nove mb e r 15, 2016 which resulted in the severe voltage dip and frequency anomalies which caused the tripping of several power plants, and the actuation of ALD (automatic load dropping) and MLD (manual load dropping) to stabilize the system frequency.”

As an af t e r m at h of that incident, it has been recommended that NGCP shall “review fault clearing ngcp/PAGE 9

MesaVerte Residences launches Tower 3

By MARK FRANCISCO, Staff Writer

MESAVERTE Residences, Cebu Landmasters Inc.’s landmark investment in Cagayan de Oro, unveiled over the weekend the units of its Tower 3 which are now for sale.

Just like in its Tower 1 and 2, MesaVerte Tower 3 is also a 15-story condominium building consisting of 254

units which are now ready for pre-selling in its two–studio and a one-bedroom units.

A b l o om i ng g ard e n c o m mu n i t y l o c at e d at the heart of downtown Cagayan de Oro, MesaVerte Residences creates a refreshing balance between organic living and an active urban lifestyle. It’s your

tranquil hideaway after a long busy day.

It is comp os e d of 3 towers that will be built in 2 phases. Each building has 15 floors adjacent to each other. The generous 8,740 sqm prime residential area is beautifully landscaped with 60% dedicated to open space for a calm relaxing environment. launches/PAGE 9

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Economy

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3rd IRS delegates concur to protect rivers, watersheds DELEGATES of the 3rd International Summit declared to protect rivers and watersheds.

Cagayan de Oro City Mayor Oscar S. Moreno led the declaration of the Cagayan de Oro Accord as part of the culminating event which was held in the city.

The declaration states to protect and maintain the watersheds; to recognize water as essential for broadbased agriculture production and rural development as well as the concern on the limited fresh water resources;

and to concentrate its efforts to combat deforestation, desertification, and land degradation.

Likewise, to urge international community’s support in regional organizations to take primary responsibility in empowering their local government units, communities and to emphasize good governance in the management of the rivers and watersheds.

The accord sums up a l l t he st atements and recommendations generated during the thematic sessions

and asserts to likewise build on t he outcomes f rom previous IRS held in Iloilo City last 2012 and Marikina City in 2014.

President of the Philippine Watershed Management Coalition Raoul T. Geollegue

said water can’t be managed i n i s o l at i o n a n d t h a t stakeholders have to account its various interest and uses. “ Thos e w ho b enef it from the water ought to pay, environmental justice says that those who benefit

from goods and services ought to pay and those who provide the services as well,” he stressed while citing the need for payments for ecosystem services (PES) approach.

Cagayan de Oro River

Basin Management Council Chair Archbishop Antonio J. Ledesma meanwhile added that the challenge of achieving healthy watersheds, clean rivers, and safer communities is for everyone to take on.

(JCV/PIA-10)

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 agend a of t he D uter te 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 (BIR) and Bureau of Customs (BOC).

A c c o r d i n g t o h e r, 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, entrylevel 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 TRANS-ASIA/PAGE 9

Tax Reform Roadshow for MSEs held in CDO

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

Gov’t continue to extend free vet service to livestock, pets MAMBAJAO, Camiguin – Camiguingnons continue to enjoy free veterinary service and treatment for livestock and pets.

Door to door vaccinations have been carried out here regularly to ensure protection of farm animals as well as

pets.

Other services offered i nclu d e t re at me nt and deworming, castration, iron/vitamin injections, and animal health services, among others.

Meanwhile, the Provincial Veterinary Office (PVO)

likewise continue to strengthen its operation in the spaying and neutering of dogs this year in its effort to uphold the province’s rabies free status.

Over 2000 dogs were spay neutered as of October and 1,315 families served.

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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Serving energy needs of the poorest of the poor at the base of the pyramid (Part 1)

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

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NELSON CONSTANTINO Editor-in-Chief

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Executive Editor

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Feature Editor

Associate Editor

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The electric power industry in the Philippines has made impressive strides in the past two decades to address the demand-supply gap that has often meant rotating brownouts, especially for the less privileged sectors of society.

The Philippine Rural Electrification Program championed by former Vice President Emmanuel Pelaez initiated the lighting up of the countryside from a few hundred households to seven million connections which now benefits about 45 million Filipinos after 38 years. The Expanded Rural Electrification Program s oug ht to att ain 100% barangays electrification by 2008 and 90% household electrification by 2017.

Howe ve r, w h i l e t he Department of Energy (DoE) claimed 100 percent of the country’s 42,036 barangays barangays now have electricity, Senator Panfilo Lacson found out during a recent public hearing of the Committee of Appointments that many sitios in those barangays still have no power (Casayuran, 2016).

In fact, Sen. Loren Legarda disclosed the program has only electrified 89 percent of households in Luzon, 79 percent in the Visayas, and a mere 56 percent in Mindanao.

Urban electrification was 94 percent, while rural

electrification was only 73 percent.

She noted that most of those who have no access to electricity live mostly in the rural areas, (which account for 4.4 million households living in remote areas) as well as in the outskirts of Metro Manila and Davao.

(Torregoza, 2016) The DoE is working on the development of a social development framework for the energy sector aimed at raising the quality of life of people at this “base of the pyramid”.

During a recent round table discussion on the development of a Social Development Framework for t h e E n e rg y S e c tor at Maramag, Bukidnon, Energ y Unders ecret ar y Benito L. Ranque said the DoE is now drawing up President Duterte’s vision for consumers, especially l owe r ing t he rate s for electricity and the eradication of brownouts.

R anque stressed the framework is being developed in behalf of those households which cannot even afford the benefits of electricity, whose experience has been a cycle of one disconnection after the other, because of their incapacity to pay.

Now that we have a president who understands the need for social development, he urged

us take advantage of this opportunity to take up the cudgels for these unfortunates whose plight may never have been discussed in the DOE, the Energy Regulatory Commission or Congress.

Ranque noted how the Philippines’ energy industry has made billions for a few which are ironically being paid for by millions who share very little of those profits.

The social framework f or t h e e n e r g y s e c t or seeks to define the role of government in capitalizing on opportunities present in the industry, to promote social development, especially in the grassroots.

Energ y autonomy for Mindanao to allow Mindanaoans to determine their own energy future was a recurring theme for the wide range of proposals put forward by the participants in the ensuring discussions.

David A. Tauli, president of the Mindanao Coalition of Power Consumers noted how ironic it was to have non-Mindanao residents deciding our energy future in Manila for so long.

Allowing us to have f i r s t d i b s at h ow ou r energy resources should be developed, distributed and priced is a huge step forward to helping more people have a say in determining their own future.

Tauli said the MCPC’s

H ammer

and

A nvil

By Mike Baños

development agenda includes the creation of the Mindanao Power Corp. (MINPOCOR) to develop large hydroelectric resources in Mindanao, and get local governments to develop small-scale RE projects, to ensure it remains cheap since the private sector players often imposes a very high rate of return.

Senate Energy Committee Chair Sen. Sherwin Gatchalian recently filed Senate Bill 1188 (“Recoverable System Loss Act”) which seeks to lower electricity rates by as much as 15.67 centavos per kilowatt hour through the reduction of charges passed on to consumers by power companies.

While laudable, similar bills have languished in Congress and taken eons to navigate the legislative process, often extended by baÑos/PAGE 11

Will SC act on accusation of Leni?

The end of the world Think a minute…Recently the biggest-selling book in America was about the end of the world. Sometimes watching the world’s news is like watching a horror movie, isn’t it? You know that the 20th century had more people killed in wars than all the other centuries of history combined! Besides all the wars, we’re seeing an increase in many kinds of natural disasters like earthquakes, floods, and hurricanes; plus totally new weather patterns that never existed before such as El Nino and La Nina.

T h e n , t h e re are t he terrible diseases, plagues, and new mystery viruses.

AIDS, the worst disease in history, is killing millions of people worldwide with still no cure in sight! In Africa, entire towns have no adults because they’ve all died from AIDS, so just babies and children are left to survive alone. According to a new United Nations report, we now have the worst world hunger and famine in history. Hundreds of millions are starving with countless thousands dying every day.

You know that Jesus Christ told us that all these things would happen and

Forging a Social Development Framework for the Energy Sector

THINK

A Minute

Jhan Tiafau Hurst that they’re like labor pains just before a mother gives birth. These terrible things are the sign that He’s getting ready to come back. Only this time, He’s coming to judge all this world’s evil and wrong. Jesus said we can’t know the exact day of His return, so it will be sudden and here before we know it. But Jesus explained it’s because He loves us so much that He’s waited as long as He can for more of us to choose to receive His gift of forgiveness and eternal life, before it’s too late! But if you know the world’s Judge personally as your friend, then His return is good news because you’re going home with Him to live forever in paradise, just as He promised. hurst/PAGE 9

LIFE’S INSPIRATIONS: “… `And this gospel of the kingdom will be preached in the whole world as a testimony to all nations, and then the end will come’. ..”

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

-ooo AND KNK PROCLAIMS J E SU S A S G O D A N D SAVIOR: The Anak ng Diyos Kadugo Ni Kristo (AND KNK, or the Children of God Blood Kin of the Christ) Church believes that it is the Church of Jesus in the Philippines, or the “east” and the “far-off land” of the Bible, which will lead in the work to proclaim Him as the God who came down from heaven, in the form of man, with flesh and blood, to give salvation to all mankind when the world shall come to its end.

-ooo LENI WARNS AGAINST STEALING HER VP POST: As I listened to Vice President Leni Robredo during her press conference on Monday, December 05, 2016, after she was fired from the Duterte Cabinet through a mere text message, I noticed that she not only talked about her dismissal from her appointed position.

She also digressed big time, evidently to stress an implied accusation that the

members of the Presidential Electoral Tribunal who are at the same time the incumbent members of the Supreme Court will “steal” the vice presidency from her, if they would vote to oust her and be replaced by former Sen. Ferdinand Marcos Jr., in view of his electoral protest which is set to be decided soon.

He re w a s w h at s h e said in f ront of media personalities who covered her press conference on this matter: “Hindi nating hahayaang nakawin ang p a g k a - bi s e pre s i d e nt e , sapagkat iyon at taliwas sa boses ng nakararami.

The vice presidency is not just about one person. It is about you and your rights.

What is at stake here is our collective future…”

-ooo W I L L S C TA K E ACCUSATION OF LENI SITTING DOWN? Certainly, the place and the occasion--her press conference right after her ouster from the Cabinet---were not suited for talking about Marcos’ electoral protest, and the impending decision of the Supreme Court justices acting as members of the Presidential Electoral Tribunal.

That press conference was meant to address her having been dismissed from the

service as the housing czar of the Duterte administration, and of her having resigned from that position. It was simply an occasion to save face, to take out the sting of being thrown out from the Duterte Cabinet, even if she had wanted to stay on.

Yet, Leni chose that very occasion, which admittedly even the Supreme Court’s magistrates had to wait for and listen to, to air a veiled threat that the vice presidency should not be “stolen” from her. Indeed, there is no doubt at all as to who Leni was accusing of stealing, since it is only the justices who will decide the Marcos protest, right? Will the Supreme Court take this accusation sitting down?

-ooo AND KNK TO FULFILL ENDTIME WORK: The AND KNK believes that the world is in its ending stage. All the signs that Jesus prophesied would presage this end of the world are already manifesting themselves. As He Himself said in Matthew 24, Luke 21, and Mark 13, when these signs become evident, we can assure ourselves that the end of the world, including His Second Coming, are literally about to happen---“at our doorsteps”.

The AND KNK is of the view that all the peoples of

K akampi

Mo A ng Batas

Atty. Batas Mauricio the world must be prepared for this end---they must be made disciples of Jesus, baptized in the Name of the Father, Son, and Holy Spirit, and taught everything that He commanded us to do, particularly that of believing in Him as God and Savior.

The Church of Jesus in the Philippines---the AND KNK believes it is this Church--is the one which will do all these work!

-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: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

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CorporateWorld

Alsons allots $180M for 2 plants

A

LSONS Consolidated Resources, Inc. i s s e tt i ng a s i d e $180 million as its equity spending in two coal-fired power plants in Mindanao that will come online by 2020, company officials said on Monday.

Tirso G. Santillan, Jr., Als on’s executive vicepresident, said the capital expenditure would mainly be for two new projects -the 105-megawatt (MW) second unit of the 210-MW Sarangani Energy Corp.

(SEC) in Maasim, Sarangani, and the 105-MW San Ramon Power, Inc. in Zamboanga City. “ To b e s a f e $ 6 0 0 million [for San Ramon and Sarangani Energy],” he told reporters when asked about the projects’ total cost during a briefing at the Makati Diamond Residences in Makati City yesterday.

Antonio Miguel B. Alcantara, Alsons corporate planning officer, said the $180-million capital expenditure accounts for

30% of the projects’ cost. The remaining 70% will come from borrowings, he added.

The capital expenditure is spread over three years, the company officials said.

The second unit of Sarangani Energy is expected to come onstream in 2019, while San Ramon’s target commercial run is in 2020.

“Our approach to our

project is... we have to have a fully contracted project,” Mr. Santillan said, adding that the expected output of the upcoming coal-fired power plants have ready takers.

For 2017 alone, he said the company should be using about a third of the capex, at around $60 million or P3 billion. But he said the amount could be higher as

spending is usually higher during the start of a project.

Apart from the coal p l ant s , A l s ons i s a l s o entering renewable energy by developing a 15-MW runof-river hydroelectric plant along Siguil River in Maasim, Sarangani. The plant is set to start construction in 2017.

“That [Siguil project] should cost us $45-$50

million,” Mr. Santillan said.

“We’re also planning a small solar plant, that’s towards the end of the year.”

Mr. Alcantara said the 20MW solar project would also be in Sarangani and should cost around $30 million.

“We’re trying to get a PPA [power purchase agreement] and at the same time the site alsons/PAGE 11

Cebu Pacific passenger volume jumps 5% in January-October LISTED Cebu Air, Inc. and its wholly owned subsidiary Cebgo, Inc. flew 5.1% more passengers in the first ten months of the year, as the budget carrier increased its load factor and added new planes.

The group ferried a total of 15.996 million passengers from January to October from the 15.218 million recorded during the same period in 2015, according to the latest operating statistics uploaded on its Web site.

As of e n d - O c t o b e r, however, the tally showed passenger volume of 1.519 million, lower by 3% against the 1.566 million last year, amid lesser seat capacity,

load factor and number of flights during the period.

Seat load factor in the 10 months to October stood at 85.9% compared to the 81.8% seen during the comparable period last year.

Cebu Pacific mounted 110,467 flights from 111,091.

The airline currently operates across 36 local and 30 international destinations with a fleet of 58 aircraft.

Cebu Air President and Chief Executive Officer Lance Y. Gokongwei had said the budget carrier is seen flying 19 million passengers this year, a record passenger volume, driven by the airline’s low-cost, long-haul services passenger/PAGE 11

National Irrigation Administration (NIA) 10 director Jimmy Apostol takes his oath as a new member of the Fraternal Order of Eagles (Philippine Eagles) after being keynote speaker during the Kagayhaan Eagles Club induction of officers last Saturday in Cagayan de Oro City. PHOTO COURTESY OF JOHN DEL BANDO

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Miss Kuyamis 2017 candidates pose with Misamis Oriental Gov. Yevgeny Vincente Emano (center) during the festival's launch last Monday. The yearly festival is a project of the Provincial Tourism Office and provincial tourism consultant Atty. Jeffrey Saclot. MISAMIS ORIENTAL PROVINCIAL INFORMATION OFFICE

TSI renovates libraries of local high schools

T

herma South Inc. (TSI), a subsidiary of AboitizPower, turned over newly renovated libraries to two high schools in its host communities on October 24, 2016 as part of its It’s A-Libe! Project.

Recipient of the newly renovated libraries were t he In aw ay an Nat i on a l High S chool (INHS) in Inawayan, Sta. Cruz, Davao del Sur and Binugao Na t i o n a l H i g h S c h o o l (BNHS) in Binugao, Toril, Davao City. “ T h e I t ’s A - L i b e !

Project aims to​ improve the libraries o ​ f TSI host community high schools

in Barangay Binugao and Barangay Inawayan,” said Jason C. Magnaye, TSI CSR Manager.

Un d e r t h e p ro j e c t the school libraries were renovate d into re ading hu b s u s i n g t h e d e s i g n made by the College of​ Architecture and Fine Arts Education of the University o f M i n d a n a o . It a l s o included the installation of the Department of Science and Technology (DOST)’s science and technolog y e-library p​ ortals, dubbed as the Science and Technology Academic and ResearchBased Openly Operated Kiosks (Super Starbooks).

TSI and Aboitiz

Fou n d at i on In c . ( A F I ) financed the cost of the renovation activities, as well as the books and computer​hardware needed to implement the project.

Super Starbooks contains digital science and technology resources in text and audio-visual formats that are geared tow ards e n hanc i ng t he learning experience of the students in the respective schools. The computerbased learning system also includes resources for livelihood.

“At y ou r f i n g e r t ip s , you will be able to access different information materials that we hope will

propel you (students) to reach greater heights,” said Mirasol G. Domingo, DOST 11 Sup er vising S cience Research Specialist.

For her part, Marilyn Deduyo, Depar tment o f E d u c at i o n ( D e p E d ) D i v i s i on of D av a o d e l Sur Asst. School District S u p e r v i s o r, s a i d t h e project will help in the implementation of the K to 12 program especially for the senior high school level.

“Wit h St arb o oks, the love for science and technology of our students w i l l b e d e v e l op e d a n d nurtured thus becoming their anchor in their

choice of courses in higher education,” Deduyo said.

The principals of INHS and BNHS also signified that the newly renovated l i br ar i e s w i l l n ot on l y be for their students but will also be open for the community.

“We are committed to maximize the use of the librar y. It will b e op en from 7:00 am to 5:00 pm and it will not only be open to the student but it will also be open for use by the alumni and the community as long as they are willing to learn,” said Josephine A. Aragon, INHS Principal.

For h i s p ar t , B N H S Principal Efren T. Butlig

said the newly renovated libraries will support the development of t h e s t u d e nt s i n B N H S especially now that the K to 12 program is being implemented.

“I trust that this project will reinforce among our youth the idea that libraries are still relevant -- in nurturing academic research, in the preservation of our culture, and in the development o f o u r n a t i o n ,” s a i d Davao City Mayor Sara Z. D uter te-C ar pio in a message delivered by Atty.

Lawrence Bantiding, Asst.

Cit y Administ rator for Operations.

​ tudents of Binugao National High School (top) and Inawayan National High School (bottom) together with Therma South Inc.’s (TSI) team headed by TSI’s Corporate Social S Responsibility Manager, Mr.Jason Magnaye during the turnover programs of the newly-renovated libraries.

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Banking&Finance PHL seeks Bangladesh help on $81-M heist 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

T

HE Philippines has asked Bangladesh to share details of its investigation into an $81-million cyber-heist from the Bangladesh central b ank after the pro c e e ds end e d up in Manila, the finance department said Sunday.

The money was shifted electronically f rom the Bangladesh central bank’s account with the US Federal Reserve to a Manila branch of the Rizal Commercial Banking Corp, from where it was funnelled into local casinos in February.

O f f i c i a l s f rom b ot h countries met in Manila last week to discuss efforts to recover the rest of the funds.

The Bangladeshi

delegation thanked the Philippines for returning $15 million, the finance department said in a statement.

Finance Secretary C arlos Dominguez and other Philippine officials “strongly recommended that Bangladesh share with the Department of Justice and the Anti-Money Laundering Council the results of their investigation into the cyberheist,” the statement added.

This would help speed up recovery efforts in the courts, it added.

“The Bangladesh officials said progress has b een made in the investigation and that it would send the government whatever updates they have on the probe,” the department

added.

Last month the Philippines said it had launched criminal proceedings against six Filipino bankers accused of failing to stop the laundering of the money.

The complaint also cited the Filipino respondents’ alleged “deliberate refusal to know the unlawful origins of the funds”.

L ast we ek, howe ver, RCBC through its external copunsel said the bank was not paying Bangladesh the money it lost, and turned the tables on Bangladeshi authorities for keeping secret the results of their investigation into how it became possible for hackers to bypass their own internal security in order to send

bogus orders to get the Federal Reserve Bank of New York, where the Bank of Bangladesh account was held, to release the funds.

No one has been arrested in the Philippines over the heist but the government has recovered the $15 million, some of it from a Manilabased casino operator who has pledged to cooperate with the criminal inquiry.

The brazen c y b erh e i s t h i g h l i g ht e d h ow the Philippines’ banking loopholes have made the corruption-prone nation a destination for dirty money.

Philippine law exempts casino transactions from scrutiny by the country’s ant i-mone y launder ing council unless a case has been filed in court.

Postbank to become ‘Workers’ Bank’ T H E Ph i l ippi n e Po st a l Savings Bank (Postbank) will soon become a dedicated financial institution for overseas Filipino workers.

President Rodrigo Duterte has approved the proposal by labor secretary Silvestre Bello III to establish Postbank as the “Workers’ Bank” during the Cabinet meeting Monday night, December 5.

“This particular move is an undertaking to show appreciation for the OFWs as our modern-day heroes,” presidential spokesman Ernesto Abella said in a Palace press briefing.

He noted the need to set up “a more specialized financial institution for OFWs to cater to their needs and aspirations,” citing the role of remittances in the country’s income.

“Remittances account for 9.8 percent of gross domestic product and 8.3 percent of gross national income,” Abella said.

At present, Abella said

A branch of the Philippine Postal Savings Bank.

there are three government banks servicing the needs of Filipinos: • Land Bank of the Philippines (agriculture) • Development Bank of the Philippines (industry) • P o s t a l B a n k (savings) Agriculture secretar y Emmanuel Piñol also confirmed the president’s approval of the Workers’

Bank creation, saying it was another campaign promise fulfilled by Duterte.

Piñol, in a Facebook post, said the Postal Bank would be initially acquired by the Land Bank of the Philippines and would be renamed the Workers’ Bank.

Piñol said Bello originally p ro p o s e d a P 4 - b i l l i o n infusion into the Postbank after the acquisition by the

Filipino workers.

But finance secretary Carlos Dominguez, Piñol said, suggested that Postbank be initially turned as a Land B ank subsidiar y out of concerns that acquisition plans would entail stringent re qu i re me nt s f rom t he Central Bank. “ The Workers’ B ank will b e a subsidiar y of postbank/PAGE 9

Tablon Elementary School receives 10 computer sets with tables and chairs and 1 aircondition from Aboitiz Corp. ,CEPALCO

By KAREN C. VERDAD, School Principal

Aboitiz Corp. in partnership with CEPALCO, thru Engr.

Lloyd Castillo, Enviromental Specialist of CEPALCO and Marilyn Chavez, Senior Manager for Customer and Community Relations has turned over 10 computer sets with tables and chairs and 1 aircondition in Tablon Elementary School, Tablon, Cagayan de Oro City on December 6, 2016.

Present during the tu r nove r we re G P TC A President Joel C. Eduria, Barangay Kagawad Angelo Pumar, Barangay Kagawad

Giles Dingal, Environmental Specialist of CEPALCO Eng. Lloyd Castillo, Senior Manager for Customer and Community Relations Marilyn Chavez, S elect Grade 6 Students, Teachers and School Principal Karen C. Verdad.

This fulfills their corporate social responsibility of both Aboitiz Corp. and CEPALCO. They believe that education should be a great leveler of society and that all our students should be given the chance to succeed in school.

Almost 2,500 pupils of Tablon Elementary School in Tablon, Cagayan de Oro city can enjoy to quality education since they can utilize the computer sets for their teaching-learning activities.

Marily Chavez stressed that Tablon Elementar y School teachers, school principal, and pupils have to assure to keep its utmost usage of the computers for the betterment learning.”

She added that CEPALCO and Aboitiz C orp have p r o m i s e d t o c o nt i nu e helping the needs of school for making sure to produce

future great leaders in the country.

During the acceptance speech, Karen C. Verdad the school principal has expressed her hear tfelt gratitude and appreciation to the kind-hearted people particularly the Aboitiz Corp. and CEPALCO for choosing Tablon ES as a recipient of their projects. “ We h o p e t h a t t h e partnership of Tablon ES, CEPALCO and Aboitiz has established will continue to grow as we mold the young minds to their peak of excellence” said Karen C. Verdad.

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Ayala... from page 1

the company helped in realizing their goals.

Ayala remains driven in strengthening these and other partnerships, and believes in the principle that it is through collaboration that people can bring around inclusive growth, and accelerate the future of those whom the company serves, Almendras said.

In a statement, Ayala Corp. chairman and CEO Jaime Augusto Zobel de Ayala said the company “has taken a more deliberate approach to integrating the needs of a wider ecosystem into our business plans and it is evident in the strategic direction that we have taken over the past five years.”

“We diversified into s e c tors t hat are goi ng through important social and economic transformation and are critical to sustaining our countr y’s economic progress—hard infrastructure through power and transport and social infrastructure through health care and education,” he added.

In supporting SMEs, the Ayala Group has shown its commitment through specialized services, including Bank of the Philippine Island’s Family Ka-Negosyo Loan, Globe’s SME arm Globe myBusiness, among others.

These services were created with a vision of empowering aspiring entrepreneurs to take full charge of their dayto-day operations and move towards success, Zobel De Ayala said.

“We are fo c us ed on understanding your business needs and designing innovative solutions that will help you grow your enterprise,” said Jacqueline Rogong, President of the Ayala Business Club of Cagayan De Oro. “The Ayala Corporation recognizes how internal partnerships such as these are in propelling this shared vision forward.

Ayala Corp. is one of the largest conglomerates in the Philippines with businesses in real estate, financial services, telecommunications, water, electronic manufacturing services, automotive, power generation, transport infrastructure, education and healthcare. (PNA)

Projects... from page 1

plant is releasing into the environment.

“Dioxins are toxic even at a very, very small concentrations. For example, if you put one drop of dioxin into a lake, that is enough to produce harmful effects on people who eat the fish in the lake,” he said.

Eliza Madroza, chief of the City Environment and Natural Resources Office (CENRO) said the City Government, which produces 600 metric tons of waste a day, met with some Japanese investors in March 2016 who offered help in putting up a WTE facility here.

She said nothing has been

firmed up yet.

Emmanuel said people who are exposed to dioxins are at risk of getting cancer, dysf unc t ion of ovar ies in women, reproductive disorders in men whose mothers have been exposed to dioxin, and decreases the IQ level among the children.

“The moral issue is that if you release dioxin today, that dioxin will remain in our environment for at least 40 generations, so that means we are not only endangering ourselves and our children.

We are endangering our great, great, great, great, and great grand children because it will take a long time for dioxin to disappear from the environment,” he said.

He als o urged t he government to study the prop os a ls of t he more advanced countries, particularly Japan, in putting up a WTE plant here.

He said WTE companies are able to of fer thes e technologies at a lower price because they reduce the pollution control mechanisms that will prevent the release of dioxin into the air.

“What the WTE plants will tell you, we can put in a lot of technologies to clean up the dioxin, but the first thing that you need to know is that it doesn’t make the dioxin disappear, all of these technologies simply concentrate the dioxin and put it in the ash. It needs to be handled as hazardous wastes and need to go to the special landfills. This is one of the hidden cost of the WTE technologies,” he said. “ They won’t tell you that but if the ash or waste from the WTE is dumped in a regular landfill, it will continue to affect or health, and continue to affect for many generations,” he added.

He a d d e d t h a t t h e Department of Environment and Natura l Res ources ( DE N R ) and t he l o c a l government units are not capable testing and monitoring domestically the dioxins.

“Only a few countries in the world have that capability, so when you bring in these technologies, our country has no way of validating and proving that the dioxin levels are really low. We only have to accept what the Japanese tells us, what the Americans tell us, and the Europeans tell us,” he said. (Antonio L. Colina IV / MindaNews)

NGCP... from page 1

time of protection settings and should be consistent with the fault clearing time allowed by the Philippine Grid Code.”

The grid operator was further asked “to conduct an assessment of the main protection of all capacitor banks.” It was noted that the failure of its redundancy protection system to isolate the November 15 incident had been due to ‘not apt specification’ of its equipment.

NGCP was similarly urged “to conduct an accounting and review of PCB’s specifications for cap acitor b an ks in

the Luzon, Visayas, and Mindanao grids to ensure that the PCBs currently installed are definite-purpose PCBs with pre-insertion resistors consistent with its network protection philosophy Section 10.0.”

Launches... from page 1

The amenities for this CDO project include separate adult and kiddie swimming pools with a sunken pool deck.

Air-conditioned function rooms and fitness g ym will contain the clubhouse as well. Moreover, there would be also basketball court, jogging paths and children’s playground, and a retail arcade will then be built at the main entrance. These amenities and the Mesaverte Residences, in entirety, are set to provide an ideal venue for neighbourhood building, family-bonding and healthyliving.

Mesaverte Residences will be built in the prime neighbourhood between Corrales and Osmeña Extension, parallel and in-between Claro M. Recto Avenue and Capitol University. It is near to malls, hospitals and universities such as Gaisano City Mall, Centrio, Northern Mindanao Medical Center, Mindanao University of Science and Technology and Limketkai Center.

This location exactly fits the elements of perfection that their company sees as an ideal place for a residential condominium. He also said that they painstakingly put an effort to make sure of the preparation. In the selection, they went through processes and come up with the best team possible who make perfect the ideal balance of the location and desired combination of the project.

Towers 1 and 2 will be ready for occupancy by 2018 to be followed by Tower 3 the year after.

Protect... from page 2

simplify PIT system.

However government has also looked into measures to enhance revenue. The prop o s a l i s to e x p an d 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 simplif y, clarif y 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 imp or t ant 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 behaviour of its tax payers. Medium and Large taxpayers are ready for a more equitable incomebased 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.

Hurst... from page 4

That morning of September 11, those people who went to work at the World Trade Center in New York had no idea they would never see their family again.

And neither do we know if we’ll live to see tomorrow.

Jesus made it clear that we all live forever—either in heaven or hell. The choice is ours. So why not ask Jesus to forgive you and take charge of your life every day?

Then you’ll have absolutely nothing to fear—neither your sudden death, nor even the end of the world.

Just Think a Minute…

Postbank... from page 8

the LBP until such time OFWs and other Filipino workers have bought shares to own part of the bank,” the agriculture secretary said. “As the Workers’ Bank grows, OFWs and other Filipino workers will be allowed to buy shares of the bank, thereby establishing the first bank which will be owned by the working class.”

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Baños... from page 4

the lengthy process to draw up Implementing Rules and Regulations.

In contrast, the Association of Mindanao Rural Electric Cooperatives (AMRECO) believes it is possible to reduce the cost of electricity for residential households in Mindanao by allocating the entire output of the Agus-Pulangi Hydroelectric Power Complex (APHC) for residential consumers.

Instead of being allocated to industries and the systems operator, AMRECO President Sergio Dagooc said the cheap hydro power would be allocated to distribution utilities (DUs), electric cooperatives or private, because the DUs are the ones serving the poorest of the poor, who are the targets of this administration for the reduction of electricity rates.

Tauli said the President can order the PSALM-NPC to make the allocation, which should be implemented asap, and stay in perpetuity, for as long as the Agus and Pulangi are generating electricity.

According to MCPC figures, the hydro plants generated in 2015 3,858 gigawat-hours (GWH), or 38% of the total generation of all power plants in Mindanao (10,000 GWH).

Under favorable weather

conditions, power generated by the hydros can exceed 4,500 GWH. Since residential consumers only used 3,151 GWH in 2015 (31% of total consumption, including system loss, in Mindanao) there is sufficient electricity from the hydro plants to supply the present and future electricity needs of residential consumers in Mindanao.

Residential consumers stand to have their electric bills reduced by P1.20 per kWh (and save P120 on the monthly bills of poorer households that consume an average 100 kWh monthly) once this is implemented.

Another way to bring down the cost of electricity for residential consumers is for systems operator National Grid Corporation of the Philippines (NGCP) to source its ancillary requirements elsewhere to free up the allocation it is now getting from the hydros.

Under the Philippine Grid Code, as the grid operator, NGCP is responsible for procuring the ancillar y reserve for a particular grid thus, a big portion of the power mix coming from the Agus-Pulangi now goes to NGCP as regulating reserve.

But now there is surplus power in the grid, NGCP can source its ancillary reserves elsewhere, so the cheap power coming from Agus-Pulangi can be allocated to the coops

and private utilities serving households, who deserve to benefit from the island’s patrimony which rightfully belongs to the people.

Should the petition be approved by the president, the electricity price from thermal power plants in Mindanao is also expected to fall given the increased competition for the surplus electricity now available from the grid (300MW) plus another 700MW that would be freed up by DU’s from their contracts with private power generating companies, making available a total of 1,000 MW to benefit industrial users and the systems operator.

Besides lowering electricity rates for residential consumers outright, this scheme can even lower electricity rates further during the rainy season in Mindanao should the DOE and ERC restore dump power rates when excess power from the island’s hydroelectric power plants are made available to coops at half the price.

Passenger... from page 5

and increased frequencies in key domestic markets from 18.4 million passengers in 2015 and also up from the 16.9 million passengers flown in 2014.

The airline is targeting to ferry 20 million passengers

A PARCEL OF LAND (Lot 28, Block 20, Psd-104305-017450, being a portion of Lot 3017-B, Psd-10-000818), situated in the Barrio of Carmen & Pagatpat, City of Cagayan de Oro, Island of Mindanao, Bounded on x x x; Beginning at x x x; Cad-237, Cagayan Cadastre, containing an area of ONE HUNDRED THIRTY TWO (132) Square Meters More or Less.

Prospective buyers/bidders may investigate for themselves the title of the herein described property and encumbrances thereon, if any there be.

All sealed bids must be submitted to the uindersigned on the above stated time and date.

from page 5

could accommodate another 20 MW. Construction is about 10 months in general for a solar plant,” he said.

The Alsons officials said banks are more “liberal” in project financing for renewable energy projects, which means long-term loans could account for as much as 80% of the project cost, with the rest coming from internal funds.

Mr. Alcantara said Alsons was also looking at a five or six other renewable energy projects in Mindanao and one on Negros island, which could contribute around 80100 MW. Alsons’ power facilities are expected to reach a total generating capacity of 588 MW by 2020 or around 25% of Mindanao’s projected peak power demand for that year, the officials said.

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

SHERIFF’S NOTICE OF AUCTION SALE EJF File No. 2016-494 Upon extra-judicial petition for sale under Act 3135 as amended, filed by NATIONAL HOME MORTGAGE FINANCE CORPORATION (NHMFC), Mortgagee, with postal address at 104 Amorsolo Street, Legaspi Village, Makati City, against DIVINA VARIAS SABAL, Mortgagor, married to RUSTOM MACABECHA SABAL, with address at Lot 4, Block 18, PN Roa Low Cost Housing Project, Barra, Opol, Misamis Oriental,/Barra, Macabalan, Cagayan de Oro City, to satisfy the mortgaged indebtedness which as of March 31, 2016, amounts to FOUR HUNDRED FORTY TWO THOUSAND FOUR HUNDRED THIRTY THREE PESOS & 82/100 (P442,433.82) as outstanding balance, interest, exclusive of penalty plus other expenses of foreclosure proceedings, the undersigned Sheriff will sell at public auction on December 22, 2016, at 10:00 o’clock in the morning or soon thereafter at Regional Trial Court Branch 25, temporarily holding office at the City Tourism Hall, City Hall Compound, Cagayan de Oro City, to the highest bidder for CASH and in Philippine Currency, the property mentioned in the said mortgage which is described as follows: TRANSFER CERTIFICATE OF TITLE NO. T-16275

‘’ A PARCEL OF LAND (Lot 4, Block 18, Psd-10-020903, Being a portion of Lot 5237, Cad-237, Cagayan Cadastre) Situated in the Barrio of Barra, Municipality of Opol, Province of Misamis Oriental, Island of Mindanao. BounDed on the NE., along line 1-2 by Lot 6., on the SE., Along line 2-3 by Road Lot 17., (6.50 m. wide); xxx.’’

Including all improvements existing thereon, containing An area of ONE HUNDRED (100) SQUARE METERS, more or Less. Registered in the name of DIVINA VARIAS SABAL, Married to RUSTOM MACABECHA SABAL.’’

All sealed bids must be submitted to the undersigned on the abovestated date, time and place.

In the event the public auction should not take place on December 22, 2016, for whatever reason, the same will proceed on the following day, without further notice, posting and publication.

In the event the public auction should not take place on the said date, it shall be on the next working day without further notice.

Prospective buyers/bidders may investigate for themselves the title of the herein above-described property and encumbrances thereon, if any there be.

Cagayan de Oro City, November 24, 2016.

Cagayan de Oro City, November 15, 2016.

FOR THE PROVINCIAL EX-OFFICIO SHERIFF:

BWM: Nov. 30, Dec. 7 & 14, 2016

(Sgd.) ALAN M. BANAAG Sheriff IV

FOR THE EX-OFFICIO PROVINCIAL SHERIFF:

(Sgd.) LOVE M. VERDADERO Sheriff IV

BWM: Nov. 23, 30 & Dec.7, 2016

This year marks the company’s first year as a “merchant” in the power business. Alsons unit Southern Philippines Power Corp. 55-MW diesel-fired p ower plant in Alab el, Sarangani province had a previous “energy conversion” agreement with the National Power Corp. The 100-MW Western Mindanao Power Corp. had a similar deal.

“Those were based on contracts that were entered into in 1998,” Mr. Santillan said, adding that the deals ended in 2015.

As m e rch ant pl ant s that sell their output to

the competitive market, “circumstances have changed,” Mr. Santillan said, leading to a possible decline in net profit this year. The drop is partly offset by the start of the commercial operation of Sarangani Energy’s 105-MW first unit in April 2016.

“The numbers will be lower than 2015,” he said.

“Revenues will be higher [but] net income is lower.”

In 2015, Alsons reported a net income of P691 million, down 5% from P727 million in the previous year. Revenues last year dropped by 3% to P5.02 billion from P5.18 billion previously.

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

OFFICE OF THE PROVINCIAL SHERIFF

NOTICE OF EXTRA-JUDIIAL SALE File No. EJF-2016-530

TRANSFER CERTIFICATE OF TITLE NO. T-179572 Registered in the name of JOEY Z. ATASAN married to NONETTE G. ATASAN

Alsons...

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 25 Cagayan de Oro City

Republic of the Philippines SUPREME COURT REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF

Upon Extra Judicial Petition for Sale under Act 3135 as amended

by Act No. 4118. Filed by HOME DEVELOPMENT MUTUAL FUND (Pag-IBIG Fund), a government financial institution duly organized and existing under and by virtue of Republic Act. No. 9679, with principal office at The Atrium of Makati, Makati Avenue, Makati City, and with branch office at Pag-IBIG Fund Bldg., J.R. Borja St., Cagayan de Oro City, against JOEY Z. ATASAN married to NONETTE G. ATASAN, both of legal age, Filipino citizens, with postal address at c/o Block 20, Lot 28, Vista Grande Subdivision, Lumbia, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of October 18, 2016 amounts to SEVEN HUNDRED SIXTY FIVE THOUSAND EIGHT HUNDRED THREE PESOS and 58/100 (P765,803.58) Philippine Currency, inclusive of interest and penalty charges, exclusive of attorney’s fees and other necessary fees and expenses of Extra-Judicial Foreclosure and Sale the undersigned Sheriff will SELL at Public Auction on December 27, 2016 at 10:00 o’clock in the morning or soon thereafter at the main entrance of RTC Branch 40, A. Luna St., Capitol Compound, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the real property mortgaged together with all improvements thereon, to wit:

next year, as the company expect the delivery of 48 additional planes in the next five years to 2021.

Cebu Air, operator of budget airline Cebu Pacific Air, saw its profit double in the first nine months of the year to P7.1 billion from P3.56 billion a year ago, led by strong passenger volume, higher ticket prices and lower fuel costs during the period, it told the stock exchange in its quarterly report.

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 SETTLEMENT AND PARTITION OF THE ESTATE OF MELECIO DIONEDA DICHE, SR. WITH WAIVER OF ALL HEIRS IN FAVOR OF ELPEDIA B. DICHE Know All Men By these Presents: This instrument is made and entered among the wife and children of the exclusive compulsory heirs of MELECIO DIONEDA DICHE, SR., namely: ELEDIA BALDEJUEZA DICHE, of legal age, Filipino, wife and window of the decedent and a resident of Zone 12 NHA Molugan, El Salvador City, Misamis Oriental.

MARIA ELENA DICHE MARIANO, of legal age, Filipino, married and a resident of Zone 12 NHA, Molugan, El Salvador City, Misamis Oriental; AND MELECIO BALDEHUEZA DICHE, JR., of legal age, Filipino, married and a resident of Zone 12 NHA, Molugan, El Salvador City, Misamis Oriental; WITNESSETH: WHEREAS, Melecio D. Diche, Sr. and Elpedia B. Diche were married on June 15, 1960 at Tagkawayan, Quezon; WHEREAS, on August 17, 2011, MELECIO DIONEDA DICHE, SR. died in Sabal Hospital, Velez Street, Cagayan de Oro City; WHEREAS, MELECIO DIONEDA DICHE, SR died intestate with no will and left no payable debts. And upon his death he left conjugal estates comprising of one (1) parcel of real property located in Zone 12 NHA Molugan, El Salvador City, Misamis Oriental, Philippines, particularly described as follows: TRANSFER CERTIFICATE OF TITLE NO No. T-45505 “Lot Portion of the lot As surveyed for Land Use Location Bounderies

: 1, Block 3, Psd-10-046083 : 3, Pcs-10-000327 : MOLUGAN LANDLESS ASSOCIATION, INC. : Residential : Brgy. Molugan, Mun. of El Salvador, Prov. Of Mis. Or. : NW., 1-2 by lot 2, Block 3, Psd-10-046083 NE., 2-3-4 by road lot 2, (8.00 m. wide) Psd-10-046083 SE., 4-5 by lot 4, Pcs-10-000327 SW., 5-1 by lot 3, Block 3, Psd-10-046083”

WHEREAS, the above-named wife and children are the exclusive and only compulsory heirs of Melecio D. Diche, Sr. and they hereby agree to adjudicate and partition among themselves, as they have adjudicated to themselves the above-described parcel of land in accordance with Section 1, Rule 74 of the 1997 Revised Rules of Court of the Philippines.

WHEREAS, the compulsory heirs Melecio D. Diche , Sr., namely: Maria Elena Diche Mariano and Melecio B. Diche, Jr. hereby voluntarily WAIVE and ASSIGN all their respective proportionate or aliquot shares and interests of the estate of the whole parcel of land including the free portions thereof and all improvements found thereon in favor of their mother.

WHEREAS, in view of the aforesaid waiver and assignment, herein Elpedia B. Diche by virtue of this instrument hereby accepts the favor given and rendered her co-compulsory heirs.

WHEREAS, with the waiver of Maria Elena Diche Mariano and Melecio B. Diche, Jr. in favor of their mother ELEPEDIA B. DICHE, the latter herby adjudicates to herself the whole property with all the improvements found thereon, free from liens and encumbrances.

WHEREAS, the parties hereby undertake to comply and register the above-described property in accordance and in consonance with Act No. 496 as well as of the Land Registratio Act, Articles No. 1621 and 1623 of the Civil Code of the Philippines and Rule 74 of the 1997 Revised Rules of Court of the Philippines and to publish the same in a newspaper of general circulation in accordance with the Rules.

Doc. No. 159 Page No. 32 Book No. 04 Series of 2016

(Sgd.) Atty. Pepito G. Cadavos Notary Public

BWM: Nov. 23, 30 & Dec. 7, 2016

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wednesday|december 7, 2016