BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 113
As of 5:56 pm February 16, 2017 (thursday)
US$1 = P49.922
Briefly Health Summit IT’S all systems go for the Cagayan de Oro city’s very first Health Summit on March 2, 2017 at the Xavier Estates Convention Hall, Upper Balulang. The 18th City Council, through the committee on health, sanitation and insurance chaired by Councilor Maria Lourdes S. Gaane last week facilitated discussions with City Health Officer Dr. Fe Bongcas, Dr. Evelyn Perez of the JR Borja General Hospital, Dr. William D. Bernardo of the City Health Insurance Office, Philhealth Regional Office-10, and other concerned departments on the details, logistics and security operations of the activity. According to Councilor Gaane, the Health Summit aims to empower the city’s 80 barangays with regards to health services in their respective areas.
Tourism Summit BUTUAN City – In celebration of the Caraga Region’s 22nd Anniversary, the Caraga Region Tourism Council Incorporated (CRTCI), in partnership with the Department of Tourism (DOT) Caraga Region, will be holding a Caraga Regional Tourism Stakeholders’ Summit and General Assembly on February 22-23, 2017 at the Watergate Hotel, this city. With the theme, “Adventure Caraga: Reaching New Heights in Tourism Development,” the event will be another learning opportunity for all tourism stakeholders in the region to better understand the dynamics of tourism development, create more linkages and strengthen our partnership for more meaningful tourism initiatives for the region. “We have invited distinguished resource speakers who will be talking on their field of expertise to give us fresh perspective on tourism developments,” said Richard Nick A. Amores, chairperson of CRTCI.
YOUR Mindanao-wide BUSINESS paper
DoE sets M’danao WESM launch in June this year www.businessweekmindanao.com
Friday | February 17, 2017
By CARMELITO Q. FRANCISCO, Correspondent
HE Department of Energy (DoE) has started soliciting comment from stakeholders for the implementation of the Mindanao wholesale electricity spot market (WESM), with June 26 set as the target launch date.
WATER LINE. Residents of Purok 3, Barangay Sabang, Surigao City queue for drinking water being rationed by the Department of Health on Monday afternoon, after the Surigao Metropolitan Water District failed to restore supply in the area. A 6.7-magnitude on February 10 disrupted the water utility’s services. MindaNews photo by Roel Catoto
Following the posting and call for comments on the draft guidelines for the market on its Web site last month, the DoE held its first consultation in Cagayan de Oro City on Monday. Succeeding discussions are scheduled in Zamboanga City on Feb. 17; Davao City, Feb. 21; Butuan City, Feb. 28; and General Santos City, March 7. These consultations follow focus-group discussions undertaken earlier by the
department. The draft circular specifies that the Philippine Electricity Market Corp. (PEMC), which will serve as system operator, will start trial operations on Feb. 26 with market participants joining by March 24. In a st ate me nt , t he Mindanao Development Authority (MinDA), which is part of the Mindanao Power Monitoring Council, welcomed the development launch/PAGE 11
SM to open 5 more malls in Mindanao By ANTONIO L. COLINA IV, MindaNews
DAVAO City — The Henry Sy-led SM Supermalls will construct five new malls in the next three years in Mindanao with a potential to generate 15,000 jobs, Oliver John Tiu, SM Supermalls vice president for operationsMindanao, said. Tiu told reporters during a business forum Tuesday that the new constructions
will bring to nine its total number of malls in Mindanao by end of 2020. SM Supermalls has 60 malls nationwide, four of them in Mindanao — two in Davao City (SM City Davao in Ecoland and SM Lanang Premier in Lanang) and one each in General Santos and Cagayan de Oro cities. Tiu said the five malls
they will construct will be an additional branch each in Davao City (Toril), and Cagayan de Oro. Toril; another in Cagayan de Oro; and one each in the cities of Zamboanga, Butuan and Tagum. Tiu could not say how much will be poured in for the new developments but he estimated that each mall normally costs around P2 sm/PAGE 11
Surigao quake displaces at least 900 workers
Initial quake damage nears P700M: RDRRMC
BUTUAN City -- The initial estimated damage of the 6.7 magnitude earthquake which hit Surigao del Norte and Surigao City on Friday evening has now reached almost P700 million. The number of casualties stands at 8 people and more than two hundred injured. This is based on the Situational Report No. 11 data released by the Caraga Regional Disaster Risk damage/PAGE 11
Parkway Hotel after the magnitude 6.7 earthquake struck Surigao City late evening on February 10. MindaNews photo by ROEL N. CATOTO
By ROEL CATOTO, MindaNews
STAIRS ON A BRIDGE. Residents put up a wooden stairway on the damaged Anao-aon Bridge in San Francisco, Surigao del Norte to enable people to cross it in this photo taken on February 13, 2017. The bridge collapse during the 6.7-magnitude quake that hit the province on 10 February 2017. MindaNews photo by Roel N. Catoto
SURIGAO City — At least 900 workers here instantly lost their jobs after the magnitude 6.7 earthquake struck late evening of February 10, Celestino Negapatan, provincial director of the Department of Trade and Industry (DTI)-Surigao del Norte said. Negapatan told MindaNews Wednesday evening that at least 900
workers in the formal sector were displaced in Surigao City, those working in business establishments that were forced to suspend operations when their buildings suffered damages. Among these establishments are Gaisano Capital Surigao, Absolute Essentials, Parkway Hotel and Tavern Hotel. quake/PAGE 11
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Economy BFAR turns-over fishing Gabriela leads ‘One Billion Rising’ boats to Panguil Bay fishers dance in Northern Mindanao
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ABRIELA, the country’s leading progressive women’s organization, led the One Billion Rising dance here, in sync with other countries around the world in observance of Valentine’s Day Tuesday. Gabriela’s coordinator in Northern Mindanao,
Rhodora Bulosan, said the women would rise through dance to express joy and celebrate the fact that “we have not been defeated by violence”. “We rise to show that we are determined to create a new kind of consciousness, one where violence would b e re s i s t e d u nt i l it i s
unthinkable,” Bulosan said. She said the women were dancing to demand genuine change, stop violence against women and children, stop human trafficking, and seek the resumption of peace talks. The women, who came f rom a l l wa l ks of life, gathered at the ‘Freedom
Park’ here at 3 p.m. Tuesday to join the One Billion Rising dance. Bulosan said the participants included victims of violence against women and children, Church women, public officials, and members of the Lesbian, Gay, Bisexual and Transsexual (LGBT) community. (PNA)
IT’S all systems go for the Cagayan de Oro city’s very first Health Summit on March 2, 2017 at the Xavier Estates Convention Hall, Upper Balulang. The 18th City Council, through the committee
on health, sanitation and insurance chaired by Councilor Maria Lourdes S. Gaane last week facilitated discussions with City Health Officer Dr. Fe Bongcas, Dr. Evelyn Perez of the JR Borja General Hospital, Dr. William
D. Bernardo of the City Health Insurance Office, Philhealth Regional Office-10, and other concerned departments on the details, logistics and security operations of the activity. EMPOWERMENT
According to Councilor Gaane, the Health Summit summit/PAGE 11
All systems go for Oro first Health Summit
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LALA, Lanao del Norte – After they were told to stop using “sanggab” (filter nets) in catching fish and prawns, some 167 fishermen along Panguil Bay can now go fishing the right way. Fiberglass reinforced plastic boats have been turned-over here yesterday to each of the affected fishermen from the municipalities of Baroy, Kolambugan, Maigo and Tubod in Lanao del Norte, Aurora and Tambulig in Zamboanga del Sur, and Ozamis City in Misamis Occidental. They will use these fishing boats with “government-approved” fishing gears.
Agriculture undersecretary and national director of the Bureau of Fisheries and Aquatic Resources (BFAR), Commodore Eduardo B. Gongona together with BFAR-10 Regional Director A s u n c i o n J. M a p u t o l , municipal mayors and the members of the Panguil Bay Development Council (PBDC) and Iligan Bay Management Council (IBMC) personally handed the fishing boats to the recipients. In his message, Undersecretary Gongona underscored the importance of forging a stronger partnership between and among the local bfar/PAGE 11
Foreign Direct Investments Grow by 59.4 Percent in November 2016; First Eleven Months Level Reaches US$7 Billion Foreign direct investments (FDI) recorded net inflows of US$756 million in November 2016, higher by 59.4 percent than the US$474 million posted in the same period in 2015. The bulk of the net inflows during the month was in the form of debt instruments (or intercompany borrowings), which amounted to US$544 million, about three times the US$185 million recorded in November 2015. This more than compensated for the 34.7 percent decline in net equity capital investments to US$154 million from US$236 million. In gross terms, equity capital placements rose by 77.9 percent to US$437 mllion while withdrawals increased by more than 28 times its level a year ago to reach
US$283 million. Equity capital infusion came mostly from Hong Kong, the United States, Taiwan, Germany, and Czech Republic. These were invested mainly in arts, entertainment and recreation; financial and i ns u r an c e ; re a l e s t at e ; wholesale and retail trade; and professional, scientific and technical activities. Reinvestment of earnings grew by 9.5 percent to US$58 million during the month. On a year-to-date basis, net FDI inflows registered a year-on-year increase of 25.4 percent to reach US$7 billion for the first eleven months of 2016. The continued FDI inflows were buoyed by investors’ confidence in the economy on the back of sound macroeconomic fundamentals and sustained
g r ow t h p o t e nt i a l . Ne t availments of debt instruments increased by 44.4 percent to US$4.5 billion from US$3.1 billion in the comparable period in 2016. In addition, net equity capital investments grew by 3.4 percent to US$1.8 billion. This developed as gross equity capital placements of US$2.4 billion exceeded withdrawals of US$555 million. The bulk equity capital placements emanated largely from Japan, Hong Kong, Singapore, the United States, and Taiwan, and was channelled mainly to financial and insurance; arts, entertainment and recreation; manufacturing; real estate; and construction activities. Reinvestment of earning reached US$663 million during the period.
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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Ayala Land Hotels to invest P15B to build 9 more Seda hotels until 2019
YALA Land Hotels and Resorts Corp. (AHRC) will invest P15 billion to build nine more Seda hotels that would add to its inventory of over 2,400 rooms over the next three years until 2019. Melissa Carlos, group
director of sales and marketing, said these new hotels are located in Vertis North in Quezon City, Bacolod City, Lio El Nido in Palawan, Circuit Makati, Arca South in Taguig City, Bonifacio Global City (BGC), Makati, Paranaque and Cebu.
Jollibee posts P6.1B amid aggressive global expansion
Since its founding in 2012, Seda has built up its room inventory to 817 rooms spread over five properties: Seda BGC, Seda Centrio in Cagayan de Oro City, Seda Abreeza in Davao City, Seda Nuvali in Laguna and Seda Atria in Iloilo City. With the completion of new hotels, Seda targets to operate 3,281 rooms by 2019, in line with its goal to be the leading Filipino hotel brand catering to global travelers in the Philippines.
Carlos said the average occupancy rate of Seda hotels is at 72 percent. “The performance of the existing hotels has been quite good with that kind of occupancy. In each city that we are operating, we usually get the number one spot in terms of market share so it’s very promising,” she said in an interview. Carlos added that building hotels is among the components of Ayala ayala/PAGE 11
JOLLIBEE Foods Corp. (JFC) booked 25% more earnings in 2016 after opening a record number of stores within and outside the Philippines, an expansion it intends to continue by investing another P14 billion. In a statement issued on Tuesday, the listed company said its net income attributable to the parent increased to P6.14 billion from the P4.93 billion recorded in 2015. This translates to P5.72 in earnings per share. JFC managed to grow its
full-year revenues 13.1% to P113.99 billion from P100.78 billion, as system-wide sales increased 14.1% to P149.14 billion from P130.73 billion on the continued expansion of its global store network. The company also improved its margins to 5.4% last year from the 4.9% realized in 2015, when the bottom line was dragged by expenses mostly for information technolog y upgrade, increase in network development organization, jollibee/PAGE 11
DEL MONTE Pacific Ltd. has received a two-year extension on a $350-million loan with BDO Unibank, Inc. while it finalizes what could become the first dollar-denominated securities (DDS) offered and listed on the local bourse.
In a regulatory filing on Tuesday, the company, listed both in Singapore and the Philippines, announced that BDO agreed to extend the loan for two years from Feb. 10 on the same terms and conditions.
Del Monte is looking to refinance the loan by issuing dollar-denominated preferred shares in the Philippine market. It has registered 36 million shares worth $360 million with the Securities and Exchange Commission
(SEC) for shelf offering. On Tuesday, the company disclosed the Bangko Sentral ng Pilipinas, the SEC and the Philippine Stock Exchange, Inc. have already approved the sale, listing and trading loan/PAGE 11
Del Monte Pacific gets extension on BDO loan
CDO-based BPO company offers business solutions for free YAHSHUA Outsourcing Wor l d w i d e In c . – t h e premiere business services company in Cagayan de Oro City – is offering SMEs (small and medium-scale enterprises) and LCs (large companies) the Yahshua Payroll Online System (YPO) free for 6 months! “Owing to YAHSHUA’s multifaceted capabilities
and services, people find it too good to be true that we really exist solely to help professionalize businesses.’’, Ptr. Ron Bayron, CPA – CEO /President of Yahshua Outsourcing Worldwide Inc. – said . He acknowledges the struggle but is positive that the YPO will help businesses achieve higher sales and significant market growth.
YPO is better than other payroll systems, because it comes with an integrated Time-In/Time-Out system with f lexible features a n d mu l t i p l e l o c at i o n capabilities. YPO is created to make payroll hassle-free with its flexible cut-off payroll register, FREE and UNLIMITED Tech Support with TIME SHEET AUDIT
to ensure accuracy and FREE Set-Up & Training. It is designed to secure payroll information with the LIMITED ACCESS SYSTEM to prevent manipulation of time sheets and payroll calculation. Just go to https://www. yahshuapayrollonline.com/ and register. It’s as easy as 1, 2, 3!
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When Boredom Strikes
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Perseverance Prevails Think a minute…A university student named Julie Beasely was shot 2 times with a high powered rifle. The doctors gave her only a 5% chance of surviving. They told her family that if by some miracle Julie lived, she would never walk again. Just a couple of years later, Julie Beasely graduated with honors from university. And to the amazement of everybody on the day of her graduation, Julie stood up and walked across the stage to receive her degree. It’s true that work and perseverance always pays off. Our problem is that we want a quick and easy answer. But life just doesn’t work that way. A wise man said: “Patience and perseverance may be bitter, but its final fruit is sweet.” Larry Bird is considered one of the greatest basketball players in history. He says: “If you keep doing your best every day, good things are going to happen to you.” We often think of great artists and musicians as being brilliant geniuses who just naturally and easily perform, without effort or practice. But the truth is that most of them simply kept working hard every day until they finally produced their masterpieces.
While being a columnist of “Tinig ng Bayan” (published in Abra) during the 1980s, I remember our Taiwanese coordinator Cristina LisingGeronga, who expressed herself in innumerable write ups about the topic loneliness. Sure, “ Tinig ng Bayan” has been a publication or Filipinos abroad. Loneliness, borne by Filipinos living abroad while missing their families in the Philippines became a very “normal” expression. During that time, my Philippine mentor, the late Monsignor Professor Dr. Dr. Hermogenes E. Bacareza, Chaplain of the Philippine Community in Berlin, started together with me publishing “Ang Mabuhay”. Believe me, “loneliness” became a main topic in many write-ups. Nowadays, loneliness and boredom seem to be the splitting image of each other - so to speak being as like
as two peas in a pod. While browsing in social networks like Facebook, one can find more and more comments as in “When Boredom Strikes” or so. Boredom, ending up in loneliness - or vice versus? How comes that loneliness and/or boredom are still a general topics in our today’s society? Loneliness has been called one of the main diseases even during the last century. It really doesn’t strike not only the Filipinos abroad and their love ones back home. Too often loneliness is being followed by alcoholism, drug abuse and even suicide. Yes, loneliness becomes a modern day plague. I observed several people trying to surround themselves with so-called “friends” only to find that such relationships are often shallow and unsatisfying. Loneliness can be painful but being lonely or alone at that is not always a bad thing.
Ask yourself, how do you use your time, if you are really alone? Do you simply let the time pass without doing anything at all? Why not use such time productively? There are many worthwhile activities to engage in, even if you are alone, such as reading, writing, listen to good (light) music, play an (forgotten?) instrument, gardening... . Reading the bible can be also very particularly beneficial. The Word of God is “alive and exerts power” and can take our minds off ourselves. To break the cycle of loneliness, one must be a giver. Let’s keep an eye, not only and always on our personal interests but also on the interests others. Look around and watch out who needs help, or who needs a real friend or good listener. Once you have spotted such a person, act! Thus, in order
H ave M y Say
to have friends, you must act like a friend. Luke 6:38 says, “Give to others, and God will give to you!” Besides, “There is more happiness (and less loneliness) in giving then receiving”, says Acts 20:35. +++ Suggestions, comments, questions? You can email me: firstname.lastname@example.org or follow me in Facebook, Linkedin or Twitter or visit www.germanexpatinthephilippines.blogspot.com or www. klausdoringsclassicalmusic. blogspot.com.
Faith is Based on Knowledge II “How then shall they call Him in whom they have not BELIEVED? And how shall they believe in Him whom they have not HEARD? And how shall they hear without PREACHING?”- Romans 10:14 “You can’t have faith on any t h i ng you d on’t have knowledge of. You can’t act on anything you don’t have knowledge of. Your knowledge creates t he dif ference b etwe en believing and doubting.” This is the simplest way to put Romans 10:14 into easy, practical words for our time. It is the same as being in a situation where you find yourself at the receiving end of discomfort. Let’s say you are a random person in the park, who loves to spend a quiet time there; reading a newspaper or your favorite book. Then here comes a bunch of
boisterous kids, they just come out of nowhere and break the peace you were enjoying in the park. You are determined that you are annoyed, irritated. Then you notice a man a little bit behind them with his head hung low. He doesn’t look too good. But you don’t notice this, because you are too preoccupied with your anger. So you approach this man with mixed thoughts about how irresponsible he is, leaving his kids to run about and you are ready to confront him. You ask him, quite indignantly, if he is the father of those kids. He responds with a low and sad voice, “Yes, I am their dad. Actually, I don’t know what to do with them right now. We just got out of the hospital, my wife just died. I don’t know how to tell my kids their mom is dead -they look so happy, they have no idea.”
At that ver y instant, no matter who you are or whatever your background may be, your anger will melt into a certain form of compassion for the man. The angry person that you were and the compassionate person that you became are defined by one thing: knowledge. Our knowledge of anyone or anything, in fact, defines the way we see it. Such is human nature. That is why, if we do not know GOD enough, it is easy to fall prey to the lie that He is a big bully. It is easier for us to fear Him and say that He is responsible for the setbacks in our life to teach us humility. If we do not know JESUS enough, then we would not know why He died on the cross and for whom He did it for. Our knowledge will set the limits of our belief. That is why it is important not
only to know GOD or JESUS once, or twice, or how many times convenient to us. A deeper knowledge of GOD & JESUS will open a deeper understanding. The more we know GOD & JESUS, the more we are confident to live our Christian life, trusting GOD to truly and wholly take charge. This interpretation is based on Ptr. Ron Bayron’s preaching on “Faith is Based on Knowledge” PART 2.
What the beatitudes teach us Jhan Tiafau Hurst Michelangelo’s painting called Last Judgment is one of the 12 greatest paintings in all of history. It took him 8 years to paint, and more than 2,000 drawings to finally get it right. Leonardo da Vinci took 10 years to do his famous painting, The Last Supper. In fact, many days he worked nonstop and even forgot to eat. When the great piano player, Paderewski, was a very old man, he still practiced piano 6 hours a day or more! Someone said to him, “You must have so much patience.” Paderewski answered: “I don’t have any more patience than other people. It’s just that I use mine.” For almost 50 years, Paul Harvey was the most listened to radio speaker in America. He said that every Hurst/PAGE 10
The quick answer to that question is that they convert what we usually consider as human dis asters or clear disadvantages and inconveniences according to worldly standards into a source of joy, a means of our redemption, a path to heaven, narrow and difficult though it may be. They expand our understanding of what would comprise as our true happiness by including those situations which we normally regard as unsavory and therefore to be avoided as much as possible and hated. But, my friends, at these times, these situations are hardly unavoidable. In fact, they are inescapable, what with all the growing differences and conflicts we are having among ourselves nowadays. If we have to be realistic about our life here,
we better take the beatitudes seriously. Blessed are the poor in spirit, blessed are they who mourn, blessed are the meek, those who hunger and thirst for righteousness or justice, those who are merciful, the clean of heart, the peacemakers, the persecuted, those who are insulted. There can hardly be any worse predicament than all these! Yet Christ reassures us that it would just be fine, and in fact he promises us a great reward, if not now then certainly in the life hereafter. And he is not bluffing because he himself underwent all those disasters and yet he conquered everything with his resurrection. In short, he has proven the veracity of this teaching with his own experience. We need to study well the content and spirit behind
the beatitudes by looking closely at the example of Christ. There we will have the reassurance that all the suffering and sacrifices that we have to go through, and the effort that we have to make in this life would be all worth it. And to be sure, we can live those beatitudes, because Christ himself would give us all the necessary graces. We just have to train ourselves in the appropriate attitudes, skills and virtues. We have to learn to be patient, which is an integral part of the virtue of fortitude that in the end can only be animated by genuine charity. We have to be ready when we are bombarded with worldly goods that can take us away from God, cool down our piety, and lead us to sin. Or when we cannot help but mourn not only because of
Fr. Roy Cimagala the death of someone but also because of some failure we commit or a misery we cannot shake off. Or when we get misunderstood and provoked in our daily exchanges of ideas and opinions with others. Or when we have to rein in our curiosity and raging hormones to keep our heart pure and in its proper orientation toward God. cimagala/PAGE 10
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Friday|February 17, 2017
Friday|February 17, 2017
Filinvest One Oasis CDO weathers monsoon rains, floods
Land governance policy overhaul to prevent spread of Metro Manila’s ‘urban nightmare,’ says Dominguez Met ro Mani la’s “urb an nightmare” underscores the urgency of overhauling the country’s obsolete land gover nance p olicies to prevent this severe case of poor land administration from spreading all over the country, Finance Secretary Carlos Dominguez III said. Dominguez said that unless the government acts swiftly to upgrade its land governance policies, other areas of the country will suffer the same fate as that of Metro Manila, where high land costs and the lack of provisions for road expansions inhibit the government’s response to the worsening problems related to urban congestion. “Metro Manila presents us with the most severe case of poor land governance. This is an urban nightmare, a metropolis that grew without planning. Right now, high land costs prevent us from acquiring property to build
s cho ols and ho spit a ls . Right-of-way has become a costly proposition for public works. No provisions were put in place for road widening,” Dominguez said in his keynote speech at the Conference on Sustainable Governance organized by the US Agency for International Development (USAID). The two-day conference held recently at the Diamond Hotel in Manila aimed to bring together a multisectoral coalition from t he nat iona l and lo ca l governments, business, civil society and other groups that will pursue a common agenda to improve sustainable land governance and thereby address the country’s land sector development concerns. Dominguez said the Department of Finance (DOF) on his watch has been doing its part in “bringing coherence” to the country’s land governance by moving
to reduce estate taxes to encourage the documentation of land assets and free them up for productive use. Moreover, Dominguez said the DOF is also encouraging local government units to update their land valuations as a measure not just to raise revenues but also to discourage owners of prime land in their respective localities from keeping these assets idle or non-productive. He acknowledged that policies on land governance are "in urgent need of updating," with the proposed National Land Use Plan "sitting in the legislative mill, with little indication it will be passed into law any time soon." “S o many of our settlements are vulnerable. Our cities are congested. Our forested areas have been stripped to make way for human habitation. We are truly facing a land governance
crisis and we must respond decisively to this,” Dominguez said. Further underscoring the necessity of passing a National Land Use Plan, Dominguez said the government needs to harmonize conflicting provisions of the Indigenous People’s Rights Act and existing property rights, clarify rules on habitation in danger zones, and rethink agrarian reform in light of the "continuing backwardness of our agriculture." “The Philippines, being an archipelago, has less arable land per unit of population than Vietnam, Indonesia, Myanmar, Laos, Thailand, and Cambodia. Our farms and cities are built in narrow strips between shore and mountainside. Our farms are small. Our cities are congested. There is severe shortage of land to build homes. A happy compromise policy/PAGE 10
While nearby areas were inundated by floodwaters and threatened by landslides brou g ht by t he re c e nt convergence of a low pressure area and the tail end of a cold front in Northern Mindanao, Filinvest One Oasis Cagayan de Oro managed to weather the calamity with relatively minor inconveniences. That’s because all One Oasis projects are engineered to cope with extreme weather conditions with an integrated drainage system of eco-friendly features w hich includes swales, dissipator canals, reinforced concrete pipe culverts and an underground detention pond. The system starts with swales, which are landscape elements designed to manage water run-off and in dissipator canals that slow down the movement of water. They consist of swaled drainage course and gently sloped (less than 6%) filled with vegetation, compost and riprap. The water's flow path, along with the wide and shallow ditch, is designed to slow down the movement of water and maximize the time it spends in the swale to optimize the trapping of pollutants and silt. Besides managing water runoff, the swales also prevent soil erosion and improve the rate rainwater is absorbed by the ground. After being slowed down by the swale, the filtered water next goes through a dissipater or bioswale (another type of biofilter), which is designed to break apart water before releasing it to the storm drainage system leading to nearby Bitan-ag Creek and eventually to the Macajalar Bay. To cope with extremely heavy rainfall, the system also has a detention pond to control flood waters by temporarily holding it back while slowly draining it to
another location at a more appropriate time. When an area like the One Oasis CDO community is paved, or covered with buildings, water runs off the property much faster than in its natural state. The total water volume of a downpour may be the same, but it happens over a shorter amount of time, so the detention pond holds back the rainwater and keeps the runoff to the desired rate. “When the rain ends, water stored in the detention pond will be emptied shortly afterwards to another outlet leading to the river or sea, or stored underground for reuse and recycling,” explained Ma. Arabelle Solidum, FLI Northern Mindanao Area Manager. “This prevents it from aggravating floods in nearby areas and creeks.” Collected water can be recycled for non-potable use such as irrigating the community’s green areas. The whole One Oasis Cagayan de Oro complex which will eventually house some 1,300 units in five condominium buildings shall benefit from these features. On top of all these, One Oasis Cagayan de Oro is also equipped with a sewage treatment plant (STP) which processes waste water and other effluents from its units and common areas and facilities into safe, odorfree that complies with DENR DAO 35 Inland Water effluent standards. Another issue which arose with the recent floods was the garbage in drainage pipes and creeks which prevented the huge volume of rainfall from running through its natural course through creeks, rivers and the sea. One Oasis Cagayan de Oro ensures that it will never happen within its community through the provision of a Materials Recovery Facility (MRF). filinvest/PAGE 10
Friday|February 17, 2017
7 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
DRIVEN TO SERVE. Aboitiz employees and local volunteers loading gallons of potable water on a bangka during the relief packs distribution in North Cotabato on February 4, 2017 to be delivered to the affected communities.
Aboitiz, Mindanao electric cooperatives distribute 4000 relief packs to flood victims
ORE than 3,800 families in Agusan del Sur and North Cotabato who were affected by flood last January received relief packages from Aboitiz Power Corporation (AboitizPower) and Aboitiz Foundation Inc. (AFI) in partnership with Agusan del Sur Electric Cooperative (ASELCO) and Cotabato Electric Cooperative (COTELCOPPALMA). AboitizPower, together with ASELCO and COTELCO-PPALMA officials and volunteers from the local government units, delivered around 4,000 relief packages to flood victims in La Paz, Agusan del Sur on Feb. 1 and in Pikit, North Cotabato on Feb. 4. The relief packages contained canned goods, instant noodles, two
kilos of rice, two packs of biscuits, and four liters of potable water. At least 200 houses were washed out and destroyed by the flash flood on Jan. 17, 2017 in La Paz, Agusan del Sur. According to the Provincial Disaster Risk Reduction and Management Council (PDRRMC), all 15 barangays in La Paz with over 30,000 residents were affected by the flood. ASELCO directors headed by officer-incharge Ms. Leah Fe Estillore and Multisectoral Electrification Advisory Council (MSEAC) volunteers of ASELCO led the distribution of relief packs in Barangays La Paz, Villa Paz, and Sagunto, which were among those badly affected by the flood. “In times like this, we can see the true
meaning of partnership. Hence, we want to extend our sincerest thanks to the Aboitiz group who immediately responded to our call to help our people in Agusan del Sur who were forced to leave their homes, many of which were destroyed, due to heavy floods in the municipalities of La Paz, Loreto, San Luis, and Esperanza” ASELCO officer-in-charge Ms. Leah Fe Estillore said. In North Cotabato, 28 barangays were flooded in Pikit, including Barangays Rajah Muda , Bagoinged, and Talitatay where at least 1,844 families were also displaced. Pikit Municipal Disaster Risk Reduction and Management Council reported damage on local agricultural products depriving residents of livelihood. Officers and staff of
COTELCO-PPALMA, led by General Manager Felix Canja, in coordination with members of the provincial government unit, assisted in the transportation and distribution of almost 2,000 food packs to the affected residents. Earlier this year, AFI distributed more than 14,000 food packs to Typhoon Nina-affected communities in Bicol, CALABARZON (Cavite, Laguna, Batangas, Rizal, & Quezon), and MIMAROPA (Mindoro, Marinduque, Romblon, & Palawan). AboitizPower distribution utilities Davao Light and Power Company, Subic EnerZone, and Visayan Electric Company, on the other hand, sent teams to Albay and Camarines Sur to assist in power restoration efforts in the typhoon-stricken areas.
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
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. firstname.lastname@example.org 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
GENUINE SERVICE. Aboitiz employee distributing relief packs to flood-affected residents in La Paz, Agusan del Sur.
PBCOM Tiano-HayesSt. Cdoc | 726519/8571558
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
Friday | February 17, 2017
Kalumpangan Festival 2017 B
arangay Iponan has been known all over the city because of its progress, hospitable residents and its one of a kind barangay activities and celebrations. Every month of February each year, this time from February 1-10, 2017, Iponan prepares for a 10-day fiesta celebration dedicated to their patron saint, Sr. San Guillermo, as their way of giving back all the blessings and graces from the Lord. I am again honored to be invited to judge at Barangay Iponan for
their Fiesta Activities specifically the Zone Beautification, Arch Making Contest and Queen of Iponan 2017. Iponan is the only barangay that I know who celebrates their fiesta for 10 days. Behind the success of these activities is the Chairman, Kag. Gaga Brellita, together with the other Barangay Officials. Kag. Gaga is a good friend. I admire his love and passion in what he’s doing to preserve the traditions of Iponan. It’s not an easy job to make everyone
participate where some are willing while some aren’t. But as a leader, you have to motivate the people and do whatever is necessary to make them understand that what their leaders are doing are actually for the people; therefore, they must also do their parts to participate and support. Some of the other activities were Field Demo, Make Your Move dance clash, open basketball league, open darts tournament and variety shows every night sponsored by all schools in the barangay.
Arch Making Contest WINNER, CDORSHP Urban Poor - The only one with the welcoming dance and music presentation.
Winners of the 2017 Kalumpangan contests: 1) February 1 - OPENING SALVO’s Dekada ‘70 Awit, Sayaw at iba pa 1st place - CDORSHP3/Urban Poor (93.66%) 2nd place - Bulao Elementary School (87.66%) 3rd place - Zone 5-Camansi (86.66%) 5 consolation prizes: Iponan Elementary School, Zone 2, Zone 6-Bulao, Sunday Vendors, Iponan National High School 2) February 6 - Inter Zone Beautification & Arch Making Contest 1st place - CDORSHP/Urban Poor (97.75%) 2nd place - Zone 3 (93.75%) 3rd place - Zone 7-Balaus (92.75%) 4th place - Ficcoville (92.25%) 5th place - Regency Plain Subd., Phase2 (92%)
From left to right: Lemuel Enerio - Barangay Administrator, Alma - ABC Staff, Teresita Eduave, Kag. Dondon Allorin, Raul Agawin, Kag. Mark Acenas, Michelle Francisco, Marifi Anay Barangay Secretary, Kag. Linda Lubi, Kap. Jerico Ebabacol of Barangay 17 and Kag. Gaga Brellita.
3) February 7 - QUEEN of IPONAN 2017 Queen of Iponan 2017 - Harl Crunchy B. Ontoy - Westfield Homes Subdivision Kalumpangan Festival Queen - Cielo P. Sacedon - Coca Cola Subdivision Humba Festival Queen - Crystal N. Doria - Zone 6 Bulao Suman Festival Queen - Stella Maris N. Ganas - Regency Plains Subdivision 1st Runner Up - Maria Angelika I. Abella - Zone 1B Minor Awards Best in Formal Wear - Cielo P. Sacedon - Coca Cola Subdivision Best in Casual Wear - Crystal N. Doria - Zone 6 Bulao Best in Festival Wear - Crystal N. Doria - Zone 6 Bulao Best in Talent - Maria Angelika I. Abella - Zone 1B Best in Swimwear - Crystal N. Doria - Zone 6 Bulao Darling of the Crowd - Crystal N. Doria - Zone 6 Bulao Miss Congeniality - Quinnie Ville Tacolod - Villamar Subdivision 4) February 8 - Field Demo Pre-school Category 1st place - Iponan Elementary School / Pamaypay Festival 2nd place - Iponan Daycare Center 1 / Bulaklakan 3rd place - Bulao Elementary School / Obando Festival Elementary Category 1st place - Bulao Elementary School / Kaamulan festival 2nd place - Iponan Elementary School / Lansones festival 3rd place - Iponan Elementary School / Moriones Festival High School Category 1st place - Blessed Mother College / Kadayawan Festival 2nd place - Iponan National High School / Maskara Festival 3rd place - Iponan National High School / Pinta Flores Festival Congratulations to all the winners!
Queen of Iponan 2017 - Harl Crunchy B. Ontoy. (PHOTO CREDIT: Raphy Arcaina)
With my fellow Judges, from left to right: Mel Heruela, Michelle Francisco, Gean Cesar, Jam Bantigue and Miss Cagayan de Oro 2016 Sherlyn Doloriel. Enjoying dinner at the residence of Kag. Gaga Brellita. Of course, I was indulged with their famous “Humba”. Photo from left to right: Shine Casiño, Kag. Gaga Brellita, Gean Cesar and Alquin Cap-atan.
With the happy people of Barangay Iponan. Daghang salamat, Iponanons!
Banking&Finance BSP reminds banks, QBs on margin requirements Friday|February 17, 2017
HE Bangko Sentral ng Pilipinas (BSP) has reminded banks and quasi-banking institutions ab out the margin requirements for n on - c e n t r a l l y c l e a r e d derivatives in line with the rules set by the Basel Committee on Banking Supervision (BCBS). In Memorandum No. M-2017—004, the central bank said the BCBS and the International Organization of Securities Commission (IOSCO), in March 2015, finalized the policy f r a m e w or k on m a r g i n requirements targeted “to pre vent cont agion and
spillover effects as margins can be used to offset losses arising from a counterparty default.” BSP defines variation margin, also called maintenance market, as used “to cover any decline in the market value of the open positions.” Initial margin, on the other hand, is def ined by Investopedia as the “percentage of the purchase price of securities that the investors must pay for with his own cash or marginal securities.” Under the rules, covered entities are required to exchange initial and variation
margins. The Memorandum said calculating these margins “should reflect the current and future exposures associated with the portfolio of noncentrally cleared derivatives.” ”Ass ets col le c te d as collateral for margin purposes should be highly liquid and should, after the application of an appropriate haircut, be able to hold their value in a time of stress” it said. The central bank s a i d v a r i at i on m a r g i n requirements are being phased out from Sept. 1, 2016 until March 1 this year while initial market requirements are being phased out from
Sept. 1 last year until Sept. 1, 2020. It advised domestic banks and quasi-banks (QBs) “to assess the potential impact of the margin requirements and their readiness to comply with the same in relation to their cross-border derivatives transactions.” ”They should evaluate the impact of the requirements on their strategic, liquidity, and operational risk profiles, in line with sound risk management prac t ices, and establish policies and procedures to ensure that they are able to meet the said requirements,” it added. (PNA)
Shift to one-day check clearing off to smooth start as big banks comply THE SHIFT to the one-day clearing for bank checks has seen a smooth start so far, a ranking central bank official said, with most big lenders able to comply with the new standards set by regulators. The check image clearing system (CICS) went live on Jan. 20, which targets to trim check processing time to a day from the current span of three to five banking days. The process requires banks to accept digital images of checks for bank credit, against the old practice of delivering the physical checks from one branch to another before any fund transfers are made. As of Feb. 7, 63 banks were deemed compliant
with the new standards for digital check clearing according to a list published on the Philippine Clearing House Corp. (PCHC) Web site, a private firm tapped by lenders in processing all check issuances in the country. There are 613 banks operating in the Philippines as of end-September 2016, according to data from the Bangko Sentral ng Pilipinas (BSP). Of these, 41 are universal and commercial banks, 64 are thrift banks, and 508 are rural banks. BSP Deputy Governor Nestor A. Espenilla, Jr. told reporters that the transition to a digital clearing system for checks has gone well,
although some players are yet to meet the standards for the electronic scheme. “Not all banks were able to immediately [comply]. It’s not the one-day clearing per se, but the requirement of the CICS,” Mr. Espenilla told reporters in an ambush interview last week. “At the same time, usually customers as well as branches were not used to it. It’s actually a very big change but it has gone relatively smooth, I would say,” the BSP official said. For the new system, banks must upgrade their systems and issue new checks to its clients, in keeping with the guidelines set by both BSP and the PCHC.
THE Department of Finance (DOF) and the Department of Trade and Indust r y (DTI) have agreed to ease the proposed excise tax on automotive vehicles, the trade chief said on Tuesday. DTI Secretary Ramon Lopez told reporters that DOF had agreed to give the lowest excise tax adjustment to cars selling at lower price range. DTI is eyeing for 1.0 to 2.0 percent excise tax on cars priced at Php 1.0 million and below, the price range of vehicles registered under its Comprehensive Automotive Resurgence Strategy (CARS)
Program. Lopez, however, did not mention the final excise tax rate and bracketing for automobiles under the tax reform package. In the previous proposal, DOF wants to increase excise tax for cars priced at P600,000 to P1.1 million to 5.0 percent from its current rate of 2.0 percent; a 20 percent excise tax for cars selling above P600,000 to P1.1 million; 40 percent for those selling over P1.1 million to P2.1 million; and 60 percent for cars with prices over P2.1 million. But adopting the previous
proposal may hurt the local auto industry and will not be aligned with the CARS Program, the DTI chief said in recent interviews. Car manufacturers have also expressed that additional duties on vehicles will curtail the growth of the industry. Lopez added that easing the excise tax on cars would not risk the revenue gains of the government under the tax reform package. “It’s a little price increase so it won’t affect the demand. Small adjustment, higher volume and you still get your target peso value,” he pointed out. (PNA)
DOF, DTI agree to ease proposed excise tax on cars
The new check designs will be bigger at 8 inches by 3 inches, and would carry “embedded” security features through both visible and invisible markings on the papers. PCHC President and Chief Executive Officer Emmanuel E. Barcena earlier said that post-dated checks of the old design would still be valid despite the migration to electronic clearing, but added that clients should coordinate with their banks to see if there is a need to update such checks. The one-day clearing is seen to provide faster access to funds across consumers and businesses. Eventually, the goal is to have a sameday clearing, PCHC officials have said. Banks process around 700,000 checks daily, Mr. Barcena said, and could hit 1.4 million on a peak day -usually after a long weekend. Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City ELZEVIR A. DAGUNLAY CASE NO. 2017-10-284 NOTICE OF HEARING APPLICANT(s)/PETITIONER(s) request/s authority for ISSUANCE of Certificate of Public Convenience to operate TH-TRUCK service along the line: WITHIN CAGAYAN DE ORO CITY AND FROM SAID PLACE TO ANY POINT IN THE ISLAND OF MINDANAO, ACCEESSIBLE TO ANY MOTOR VEHICLE TRAFFIC AND VICE VERSA, with the use of ONE (1) unit/s. This application/petition shall be considered by this Board on MARCH 2, 2017 10:00 A.M. at this Board on which date Applicant(s)/ Petitioner(s) shall formally submit his/her/their evidence. The Applicant(s)/Petitioner(s) shall publish said notice at least TEN (10) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island. Party (ies) opposed to the approval/granting of the application/petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to require additional documentary evidence and/or his/her/ their oral testimony (ies). N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/PETITION. Issued this 13th day of February, 2017 at Cagayan de Oro City, Philippines. AMINODEN D. GURO OIC-Regional Director BWM: February 17, 2017
Friday|February 17, 2017
program he wrote was edited and rewritten, word-for-word, 50 times! Someone said: “Winners are simply people who are willing to work more than losers.” Why not ask Jesus Christ to start changing your way of living and working? He’ll help you to be more patient and disciplined, so that everyday you will persevere and work to make His plan for success work for you. Just Think a Minute…
Let’s always remember the beatitudes, and continually ask for the grace to believe and live them to the hilt. Christ’s promises cannot be denied. We have to strengthen our faith in his word. And start to live calmly, oozing with confidence and focused on what really matters in life! The beatitudes should always be in our mind, heart and lips! email@example.com.
will have to be found between the demands of agriculture and the requirements of an increasingly urban population,” Dominguez said. “As o u r p o p u l at i o n increased rapidly over the last few decades, with our land policies hardly keeping pace, the phenomenon of landlessness has become more severe. Settlements are pushed to the most perilous places: steep slopes prone to landslides; shorelines prone to storm surges; and riverbanks that have become clogged. We need to plan for our settlements, addressing a housing backlog estimated at well over three million units,” he added. He pointed out that unless the government updates its
from page 4
from page 4
REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT OF LANAO DEL SUR 12th JUDICIAL REGION BRANCH 10 Hall of Justice, Marawi City IN THE MATTER OF THE PETITION FOR CHANGE OF NAME (SURNAME) OF MOHAMAD NASSIF MANUDI IBRAHIM
SPL PROC. 2413-16
MOHAMAD NASSIF MANUDI IBRAHIM, Petitioner,
from page 6
PRA Form No. 10.1 (LCRO)
-versusTHE ADMINISTRATOR and CIVIL REGISTRAR GENERAL OF PHILIPPINE STATISTICS AUTHORITY And the CIVIL REGISTRAR OF SAGUIARAN, LANAO DEL SUR Respondents, x----------------------------/ ORDER Before this Court is a verified petition for change of name in the certificate of live birth of MOHAMAD NASSIF MANUDI IBRAHIM dated September 26, 2016, and which reads in part: 1. Petitioner is of legal age, single and a resident of Pawak, Saguiaran, Lanao del Sur (LDS) since birth, where he may be served with the orders and other processes of this Court; 2. Respondent Local Civil Registrar of Saguiaran, LDS is the custodian of all records of birth in Saguiaran, LDS whose office is located at Municipal Hall, Saguiaran, LDS while respondent Administartor and Registrar General of Philippine Statistics Authority is the custodian of all records of birth in the Philippines whose office is located at Sta. Mesa, Metro Manila, where they may be served with orders and other processes of this Court; 3. Petitioner was born on October 08, 1991 at Pawak , Saguiaran, LDS to parents Ibrahim M. Manongcarang and Sakina M. Manudi. Petitioner’s birth was registered under Registry No. 91-103 by his father Ibrahim Manongcarang , a copy of petitioner’s Certificate of Live Birth is hereto attached and marked as Annex ‘’A’’, 4. When petitioner enrolled in a formal education, his parents taught him to use Ibrahim as his surname, in consonance with the Muslim custom. Petitioner thereafter continues using said surname until he graduated in College; 5. At present, petitioner is publicly known and recognized as MOHAMAD NASSIF MANUDI IBRAHIM, not MOHAMAD NASSIF MANUDI MANONGCARANG. Thus, there is a need to change his name to avoid confusion and discrepancy in his school records. 6. To prove that petitioner is consistently using and is publicly known to be MOHAMAD NASSIF MANBUDI IBRAHIM, the following documents are hereto attached: OFFICIAL TRANSCRIPT OF RECORDS (TOR) issued by the Lyceum of Iligan Foundation, Corpus Christi Village, Iligan City IDENTIFICATION CARD (ID) issued by the Saguiaran National High School, Saguiaran, Lanao del Sur. NBI CLEARANCE issued by the National Bureau of Investigation, Iligan City and PASSPORT issued by the Department of Foreign Affairs (DFA), Cagayan de Oro City which are marked as Annexes ‘’B’’, ‘’C’’, ‘’D’’,’’E’’ and ‘’F’’ respectively; 7. The erroneous entry as to his surname appearing in petitioner’s Certificate of Live Birth must be corrected in order to avoid confusion that may adversely affect him in the future; 8. Finally, the petitioner submits that nobody will be prejudiced by granting this petition. Finding the aforesaid petition to be sufficient in form and substance, it is hereby ordered that the same be set for hearing before this Court on MARCH 7, 2017 at 8:30 o’clock in the morning. Let a copy of this Order be published at the expense of the petitioner in a newspaper of general circulation in Lanao del Sur or Marawi City or Iligan City for three (3) consecutive weeks. The Local Civil Registrar of Saguiaran and the Civil Registrar General, or any person or party who has interest in the petition, may file his/her opposition thereto within fifteen (15) days from notice of this 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 in the Bulletin Board of the Local Civil Registrar of Saguiaran and the Bulletin Board of this Court, at the expenses of the petitioner. The petitioner is directed to notify this Court of the publication of this Order not later than three (3) days before March 7, 2017. Furnish copies of this Order, together with the copies of the petition to the Local Civil Registrar of Saguiaran, the Hon. Solicitor General, Makati City, and the Hon. Civil Registrar General, Philippine Statistics Authority (PSA), Sta. Mesa, Manila. SO ORDERED. Marawi City, Philippines, January 9, 2017.
land governance policies, land prices will likely spiral as commercial developers, agricultural estates, industrial and export-processing zones and the extractive industries compete for the use of the country’s scarce land resources. “If land becomes too expensive, it will b e i n a c c e s s i bl e to t h e homeless and raise the costs of production thereby diminishing our competitiveness,” Dominguez said. Dominguez cited Metro Manila as a supreme example of poor land governance and called on the conference participants to share their recommendations on what can be done immediately to prevent this from being replicated in other parts of the country.
Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL CAGAYAN DE ORO CITY NOTICE FOR PUBLICATION In compliance with Section 5 of R.A. No. 10172, a NOTICE is hereby served to the public that MERLYN RIA YARE PAGAPULAAN has filed with this office a petition for the correction of clerical error in the entry of the date of birth from ‘’DECEMBER 10, 1992’’ to ‘’JULY 22, 1992’’ in the Certificate of Live Birth of MERLYN RIA YARE PAGAPULAAN who was born on DECEMBER 10, 1992 in CAGAYAN DE ORO CITY and whose parents are VICTOR OBEDENCIO PAGAPULAAN and HYDIE EDROTE YARE. Any person adversely affected by said petition may file his written opposition with this Office not later than February 18, 2017. (Sgd.) NORMA S. DIPUTADO City Civil Registrar
(Sgd.) WENIDA B.M. PAPANDAYAN Presiding Judge
BWM: Feb. 3, 10 & 17, 2017
Filinvest... from page 6
A MRF is a facility designed to efficiently sort and store recyclable materials (paper, tins, glass, plastic and the like) in an environmentally sound manner. As a community by itself, One Oasis Cagayan de Oro’s MRF is a low cost, do-able approach which is not merely environmentally friendly, but makes good business sense. It segregates waste materials for disposal and those which are re-usable for resale or rec ycling, encouraging home owners to participate in keeping their community clean and sanitary. Its MRF re ceives biodegradable waste for
composting and mixed nonbiodegradable wastes for final segregation, re-use and recycling, with each type of mixed waste collected from the source and transported to the MRF in separate containers. This sorting strateg y has proven to be effective in most communities that have established MRFs, as they have maintained a clean environment, as well as initiating business opportunities for buying and selling re-usable and recyclable materials. Not the least, it prevents garbage dislodged by floods and rains from clogging draining pipes and waterways. Not only is the mounting problem of uncollected garbage addressed, other related issues such as the unpleasant odors which have plagued a number of subdivisions in the city, are also eliminated. To learn more about One Oasis Cagayan de Oro’s ecofriendly features that make it a safer place for your home in this season of climate change, please visit Filinvest office at the ground floor, Bo’s Café Bldg., Don A. Velez St., 9000 Cagayan de Oro City or contact 0917-3058888 or check its official page at facebook.com/oneoasis. cagayandeoro
BWM: Feb. 10 & 17 2017
Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL CAGAYAN DE ORO MAIN BRANCH 10th Judicial Region P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Branch 25 Tel. # (08822) 727-829 * Cagayan de Oro CityTelefax # (088) 856-1947 CAMIGUIN BRANCH
B. Aranas St., Poblacion, Mambajao, OFFICE OF THE PROVINCIAL SHERIFF Camiguin Tel. # (088) 387-0491 CORRALES BRANCH
SHERIFF’S NOTICE OF AUCTION SALE Corrales Ave., Cagayan de Oro City EJF File No. 2017-016DIVISORIA BRANCH
Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City
Upon extra-judicial petition for sale underTel. Act# (088) 3135857-3631 as amended, filed by BANGKO RURAL NG TAGOLOAN (MIS.LAPASAN OR.), INC., Mortgagee, BRANCH Hi-way,Misamis Cagayan de Oriental, Oro City with address at Jacinto St., Poblacion, Lapasan Tagoloan, Tel. # (088) 231-6739 against SILVERIO N. DAGASUHAN, Mortgagor, with residence CARMEN BRANCH address at Zone 3, Sta. Ana, Tagoloan,Vamenta Misamis Oriental, Blvd., Cagayan deto Orosatisfy City Tel. (088) 231-2011 the mortgaged indebtedness which as of January #31, 2017 amounts to THREE HUNDRED FOUR THOUSAND TWO HUNDRED SIXTY SEVEN PESOS (P304,267.00) as outstanding balance, and interest, excluding incidental expenses thereafter and twenty percent (20%) of the total amount of indebtedness as attorney’s fees plus other expenses of the foreclosure proceedings, the undersigned Sheriff will sell at public auction on April 24, 2017, 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: KATIBAYAN NG ORIHINAL NA TITULO BLG. P-35310 ‘’A PARCEL OF LAND, Lot No. 4510, CAD. 847 (Lot No. 242, CSD-10-016097) situated at Barrio Rosario, Municipality of Tagoloan, Province of Misamis Oriental, Island of Mindanao. Bounded on The NE., along lines 11-12-1-2-3 by Lot 243; on The SE., along lines 3-4-5-6 by Creek, along line 6-7 by Lot 246; x x x. Containing an area of FIVE THOUSAND THREE HUNDRED TWENTY TWO (5,322) SQUARE METERS, more or less, including all existing improvements found thereon.
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
Publication Notice RA 10172 Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE Baungon, Bukidnon
NOTICE TO THE PUBLIC 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 BRYELLE B. SAGUYON has filed with this Office a petition for correction of entry in SEX from ‘’FEMALE to ‘’MALE’’ in the Certificate of Live Birth of BRYELLE B. SAGUYON, born on April 18, 2003, at Baungon, Bukidnon and whose parents are BRYAN SAGUYON and MARY JANE B. BUNA. Any person adversely affected by said petition may file a written opposition with this Office not later than February 17, 2017.
Cagayan de Oro City, February 8, 2017.
BWM: Feb. 17, 24 & Mar. 3, 2017
(Sgd.) LOVE M. VERDADERO Sheriff IV
(Sgd.) EVANGELINE C. LIBAYNON Municipal Civil Registrar
BWM: Feb. 10 & 17, 2017 PRA Form No. 10.1 (LCRO)
Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL CAGAYAN DE ORO CITY
In the event the public auction should not take place on April 24, 2017, for whatever reason, the same will proceed on the following day, without further notice, posting and publication. Prospective buyers/bidders may investigate for themselves the title of the herein above-described property and encumbrances thereon, if any there be.
Date: Feabruary 1, 2017
CCE-0040-2017 RA 10172
All sealed bids must be submitted to the undersigned on the abovestated date, time and place.
FOR THE EX-OFFICIO PROVINCIAL SHERIFF:
“I hope the policymakers attending this meeting will learn from the experiences of others and help upgrade our own land governance capacity,” he said. Dominguez also hoped that the conference participants could "arrive at a set of practical recommendations on what can be done immediately. Many of our settlements are vulnerable. Our cities are congested. We are truly facing a land governance crisis and must respond decisively to this."
NOTICE FOR PUBLICATION In compliance with Section 5 of R.A. No. 9048, a NOTICE is hereby served to the public that BERNARD ROXAS AVANCEÑA has filed with this office a petition for the change of first name from BERNARDINO to BERNARD in the Certificate of Live Birth of BERNARDINO ROJAS AVANCEÑA who was born on May 20, 1962 in CAGAYAN DE ORO CITY and whose parents are FELIPE AVANCEÑA and ELISA ROJAS. Any person adversely affected by said petition may file his written opposition with this Office not later than February 18, 2017. BWM: Feb. 10 & 17 2017
(Sgd.) NORMA S. DIPUTADO City Civil Registrar
Friday|February 17, 2017
saying the WESM “will serve as an open electricity market for power stakeholders, which will allow more opportunities for infrastructure development in the islandregion.” Mindanao is the only major island group in the country that has no spot market, mainly due to lack of stable power sources in the last two decades. The WESM, operated by the non-stock, non-profit PEMC, started in Luzon in 2006 with the Visayas following two years later. Beginning last year, several new coal-fired power plants in Mindanao started operating, leading to a surplus that can be offered on a spot market. The southern island currently has a 500 to 800 megawatt (MW) power surplus, according to data from the National Grid Corp of the Philippines. This surplus is expected to increase to at least 1,000 MW by the end of the year as other new plants come online. Earlier, MinDA Deputy Executive Director Romeo M. Montenegro cautioned that one major hurdle to the WESM implementation is the financial capability and technical know-how of about 30 electric cooperatives, which comprise a majority of the distributors in Mindanao. “In Luzon, (the market has been viable) because you (power generators) only talk to a handful of distributors,” said Mr. Montenegro. Under the DoE draft c i r c u l a r, t h e N a t i o n a l Electrification Administration (NEA) is instructed to “ensure that all Mindanao electric cooperatives are technically and financially prepared to operate under the deregulated electric market,” based on what is specified in the Electric Power Industr y Reform Act. As i d e f rom h e lpi ng cooperatives prepare to participate in the WESM, NEA is also tasked to help them secure “sufficient a m o u nt o f p r u d e nt i a l guarantees and filing with the ERC (Energy Regulatory Commission) on the recovery of the same.” Arturo M. Milan, adviser for Mindanao of Aboitiz Equity Ventures (AEV), which owns Aboitiz Power Corp. that has both generating and distribution subsidiaries, said rolling out the WESM will be good not just for the power industry but the overall economic development of the south. “We foresee the coming of investors in relation with the oversupply. And based on the annual cumulative growth, it will take about another five years before the oversupply is fully consumed,” Mr. Milan said in an interview. He added that beyond five years, surplus is projected to continue “because we have a lot of water (for hydropower) and there are new capacities and there are still new capacities coming in.”
billion. Mindanao’s first SM mall is SM City Davao, referred to by residents as “SM Ecoland.” It was inaugurated on November 17, 2001. Tiu said a rosy outlook has been projected for Mindanao after the election of President Rodrigo Duterte who has re p e at e d l y e n c ou r a ge d businessmen to locate in the island. He also pointed to the increased purchasing power of the Mindanawons as another factor behind the plan to put up more SM malls here. He said the firm saw a nine percent growth in 2016 in Mindanao, compared with the seven percent national growth target. According to Bloomberg. co, the SM Supermalls’ h o l d i n g c o mp a ny, t h e SM Prime Holdings, Inc., “develops, operates, and maintains shopping center spaces for rent, amusement centers, or cinema theaters in the Philippines and China. The comp any op erates through four segments: Mall, Residential, Commercial, and Hotels and Convention Centers.” Lynette Angala-Lopoz, SM City Davao mall manager, said SM Development Corp. ( SM D C ) , t h e prop e r t y development arm of SM Prime, will also build a four eight-storey condominiums with carpark buildings in Ecoland, this city by middle of this year. Engr. Nick D. Santos, SM City Davao assistant mall manager, said they continue to do innovations for SM City, this being the first mall in Mindanao area and the 11th in the country. “We have brought in a lot of improvements for SM City Davao by bringing in more brands here,” he said. Lopoz said that they are hoping some 45 new tenants will open in this branch, including some global brands.
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from page 1 Reduction Management (RDRRMC) Op erations Center which is continuously monitoring the effects of the earthquake, at 10:30 a.m. Tuesday. The “Red Alert Status” is still in effect at the RDRRMC Operations Center and its member-agencies. Meanwhile, the Surigao City Council through Resolution No. 23-2017 has declared Surigao City under a “State of Calamity.” The earthquake affected 60 barangays; 1,790 families and 9,320 individuals. Eight (8) were recorded to have died and 203 were injured. T h e f at a l i t i e s w e r e identified as Robert Eludo, Jr. 40, of Purok 1, Barangay Bilabid; JM Ariar, 4, of Sitio Aton, Brgy. Ipil; Lito R. Wilson, 36; Purok 4, Brgy. San Juan; Lorenzo L. Deguino, 85, Purok 5, Brgy. Poctoy; Roda Justina Taganahan, 83, Brgy. Bonifacio; Rommel Tano, 17, Purok 3, Brgy. Anomar; and
Jenelyn Ebale, 5, Purok 6, Brgy. San Juan, all of Surigao City and Wenefreda Aragon Bernal, 66, of Purok 3, Brgy. Honrado, San Francisco, Surigao del Norte. Of the injured, 181 were outside patients, 15 were admitted in hospitals, 7 were referred to hospitals outside Surigao del Norte or a total of 203. The Anao-aon Bridge at San Francisco, Surigao del Norte collapsed during the earthquake and is still impassable. Vehicles are being detoured to Delani Crusher in Brgy. Diaz. Malico Bridge at Daang Maharlika Road (Lipata-Surigao Section) has only one lane passable to only light vehicles. The Daang Maharlika Road (Surigao-Ipil-Lipata Section/Surigao-Agusan Section) suffered intermittent damaged road sections. Removal of debris and clearing operations are ongoing and heavy trucks are rerouted to Surigao-San Juan coastal road. Other national roads -the Surigao-Davao Coastal Road, Magpayang Mainit Wharf Road, Surigao San Coastal Road and Surigao Wharf Road -- suffered only minor cracks and are passable to all types of vehicles. Power supply is fully restored in the towns of San Francisco and Malimono of Surigao del Norte and Surigao City. The water supply of the town of Malimono was totally repaired but the pressure was low. Repair is still ongoing for the Matin-ao Water Reservoir and Pipelines (Mainit town) and San Francisco Annex Water Supply (San Francisco) while the Parang-parang Source, Ima-Cananez Source and Lumaban/Balibayon Source of Surigao City are now fully restored. Cancellation of flights is still in effect due to the damage of Surigao City airport and the damages to roads and bridges going to Lipata Ferry Terminal of Brgy. Lipata, Surigao City. All vessels as well as port operations are transferred to Surigao City Port. Totally damaged houses in Surigao City and Surigao Province reached 143 and those partially damaged totaled 1,647. The damage to infrastructures and lifelines totaled Php 690,048,532.91 in cost. The total cost of assistance extended to Surigao City was Php 7,175,331.37. Classes in all levels in Surigao City are suspended starting on February 13 until further notice, but there is already work in those offices or buildings which have been declared safe to occupy. (PNA)
Quake... from page 1
He said the number will increase if the informal sector will be included. “Laborers, drivers, fisherfolk, among others stopped working after Friday evening’s devastating quake,” he said. Negapatan said they are still working with the Department of Labor and
Employment for data on those rendered jobless in the informal sector. He noted that aside from job loss, several workers also lost job opportunities as employers downsized their workforce due to Friday’s quake. Brian Navarro, one of the workers of Gaisano Capital Surigao worries where he will money for their next meal. “I don’t know if I will survive in the next few days,” said Navarro, who has one year old child. The Regional Tripartite Wage B oard said these workers earn 280 pesos a day.
Summit... from page 2
aims to empower the city’s 80 barangays with regards to health services in their respective areas. She said participating agencies will be allotted 15 to 20 minutes for their presentations during the summit. Target participants are Barangay Health Workers (BHW), sanitary inspectors, barangay chairmen and chairmen of the barangay Health Committee. Rizalino Martinez, head of the Steering Committee of Health Summit 2017 said Health Secretary Dr. Paulyn Jean Rosell-Ubial and Senator Riza Hontiveros confirmed that they will be gracing the summit. C ou n c i l or G a an e i s thanking all those working for the success of the city’s first health summit, which will bear the theme “All for Health towards Health for all in Cagayan de Oro City.” (SP)
BFAR... from page 2
government units (LGUs), PBDC, IBMC, officials of the national government as well as the stakeholders “in ensuring the sustainable use and development of the two bodies of water.” “A f t e r a s e r i e s o f rigorous consultations and deliberations, Panguil Bay was declared ‘sanggab’ or filter nets-free,” he said, adding “without your coordinated efforts and hard work, the conservation of this water resource would have really been a huge challenge.” ‘ T h e f i lte r n e t s are destructive fishing gears that have seriously damaged the marine environment of Panguil Bay, affecting the volume and quality of catch of thousands of municipal fishers,” Gongona maintained. In a related development, PBDC members are calling for the removal of tower type fish corrals within the bay, as these are also considered destructive. (FPG/PIA10)
Jollibee... from page 3
acquisition of Smashburger and supply chain and logistics costs. In the fourth quarter alone, JFC posted a 63.7% y e a r- o n - y e a r s u r g e i n earnings to P1.75 billion from P1.07 billion, as revenues rose 13.9% to P31.75 billion
from P27.87 billion. The system-wide sales of JFC jumped 14.1% to P41.38 billion from P36.26 billion during the three months to December. The foreign business delivered 14.5% more, recording its highest quarterly sales growth in 2016. The country’s largest food service company attributed the improvement to the continued expansion of its global store network. Last year, JFC opened 340 stores: 243 in t he Philippines, 60 in China, seven in the United States and 30 in Southeast Asia and the Middle East. Its joint ventures also added 71 Highlands Coffee and three Pho 24 in Vietnam; three 12 Hotpot in China; and 51 Smashburger, mostly in the US. “In 2016, we opened the most number of stores in JFC’s history,” President and Chief Executive Office Ernesto Tanmantiong was quoted as saying in the statement, with the company venturing in Winnipeg, Canada for the first time in December. “This was made possible by improving the return on investments on our stores and by i nc re as i ng ou r organization capability to build and open more stores, in better locations and with better quality than ever before -- on a worldwide basis.” J F C a l s o r e n ov at e d 200 existing stores in the Philippines and 150 abroad. It plans to spend P14 billion more to open new outlets and renovate the existing ones. At end-December 2016, JFC had 2,643 restaurants in the Philippines under the brands Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal and Burger King. It operated 611 more in China, Vietnam, Brunei, Saudi Arabia, Qatar, United Arab Emirates, Kuwait, Singapore, Hong Kong, Bahrain, Canada, Oman and the US. In the fourth quarter, t h e c o mp a ny ’s w h o l l y owned subsidiary Jollibee Worldwide Pte. Ltd. bought its partner out Happy Bee Foods Processing Pte. Ltd. and opened its first store in Winnipeg, Canada. JFC, meanwhile, divested from a business line producing food products for third parties in China, Guangxi Wang Food and Beverage Management Co. Ltd. and Chow Fun Holdings LLC, in favor of the bigger operations.
Ayala... from page 3
Land Inc.’s (ALI) mixed-use or township developments. “All the hotels are doing very well. Last year, all the hotels were able to achieve revenue targets including the youngest which is Seda Atria in Iloilo,” she added. Seda will launch this April 2017, its biggest city hotel with 438 rooms, Seda Vertis North in Quezon City, where business potential is huge. Seda Capitol Central in Bacolod is opening in the third quarter of this year, with 154 rooms.
Seda will also launch a resort hotel in AHRC’s new tourism estate in El Nido town in the Palawan mainland called Lio. Seda Lio will have 153 rooms and will be completed in the last quarter of 2017. The excellent performance of Seda BGC has prompted the addition of a new tower with 342 rooms, including 48 serviced apartments to cater to long-stay guests, many of whom are project consultants and remain in the country from three to six months. The new stand-alone Seda BGC tower to be completed in 2018 will seamlessly interconnect with the current tower at three levels. Seda’s next generation of city hotels in Makati, Taguig, Cebu, the Bay Area in Manila will be bigger and ranging from 200 to 350 rooms. (PNA)
Loan... from page 3
of the DDS. BDO Capital & Investment Corp. serves as the manager of the proposed issue. In an earlier interview, the investment bank’s President Eduardo V. Francisco said Del Monte wanted to launch the offer in the first month of 2017. The company had planned to issue the initial t ranche compr ising 15 million preferred shares with a maximum price of $10 apiece along with an oversubscription option for 10 million shares as early as Jan. 25 and list them on Feb. 5. But the SEC only approved the shelf registration of Del Monte for the perpetual, cumulative, nonvoting, nonparticipating, nonconvertible series A preferred shares on May 31. The company further awaited the approval of the rules governing the trading of DDS on the local bourse. The SEC already approved the framework in November 2016, but no broker has sought accreditation for the trading of such securities so far. “Pursuant to the DDS Rules, Del Monte is awaiting the eligible brokers’ enhancement of their systems for dollar denominated trading,” the company’s disclosure read. In the six months to October 2016, Del Monte booked a 69% year-on-year decline in profit to $11.44 million, as sales in the United States dropped and costs increased for the closure of a plant there. The company recorded $37.1 million in earnings for the same period in fiscal 2016 largely from the $30.4-million one-time gain realized from the amendment of the retirement plan of a subsidiary in the US.
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Friday|February 17, 2017