BusinessWeek Mindanao (February 21, 2014)

BusinessWeek MINDANAO

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Volume IV, No. 67

Market Indicators

As of 6:10 pm feb. 20, 2014 (Thursday)

FOREX

PHISIX

US$1 = P44.68

6,352.76 points

16 cents

X

X Briefly 58.14 points

Garbage collection THE Cagayan de Oro City Council during its regular session on Feb. 17, presided over by Vice Mayor Caesar Ian E. Acenas referred to the committee on barangay affairs chaired

by Councilor Yan Lam Lim a proposed ordinance localizing garbage collection through the mobilization of barangays in Cagayan de Oro and providing incentives for the purpose.

The proposed legislation, which was filed by Councilor Enrico Salcedo, provides for the re-organization of City Solid Waste Management Board as mandated by Section 12, Chapter II of Republic Act 9003, otherwise known as the Ecological Solid Waste Management Act of 2000.

The board shall adopt measures to promote and ensure the viability and effective implementation of solid waste management programs in all barangays, coordinate efforts of concerned barangays and ensure the proper and periodic collection of solid wastes in all barangays.

Banana investment PUBLICLY-listed Agri Nurture Inc (ANI) has ventured in a banana plantation investing P500 million in Tagum, Davao Del Norte for its banana export to China, Russia, and Middle East.

Its investment is in partnership with the Tagum Resources Agri Industries Inc. (Train), a joint venture company of Best Choice Harvest Agricultural Corp., ANI’s own wholly-owned subsidiary, and Hijo Resources Corp. (HRC).

Black River Capital, a Cargillrun asset management firm, just did a capital infusion into ANI last year, enabling the company to go into aggressive expansion.

“We have 471 hectares now, but we will expand soon. We hope to get 500 hectares more within the year or next. We’re barely serving the market,” said ANI Corporate Affairs Head Larry R. Lacson in a press briefing.

ANI is just serving around a third of the 50 containers per week requirement of its present market.

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CdO, Cebu power firms agree for joint venture T

By GRACE BEBER, Staff Writer

HE CAGAYAN de Oro City-based independent power producer has teamed-up with Cebu’s Vivant Integrated Generation Corp for more power exploration in the Mindanao region.

Owned by the Cebu-based Garcias, Vivant has interests in the 70-MW Bakun hydro plant in Ilocos Sur, and a 16MW diesel plant in Palawan in Luzon. The company also owns a 70-MW diesel and 246-MW coal plant in Cebu, and the 0.8-megawatt (MW) Amlan hydro plant in Negros Oriental.

Minergy, on the other hand, is an independent power producer established in 1992 to help address Mindanao’s power crisis.

The company is controlled power/PAGE 15

‘NO TO CYBER CRIME LAW’. Militant students hold a protest in Davao City on Wednesday against Republic Act 10175 or the Cycbercrime Law after the Supreme Court upheld its constitutionality on February 17. mindanews photo by keith bacongco

In a Memorandum of Agreement, both Mindanao Energy System, Inc. (Minergy) and Vivant entered into a deal for possible equity infusion in the former’s future power projects.

The agreement allows the Garcia’s-owned Vivant to set a foothold in the electricitysupply starved island.

T h e D e p a r t m e nt o f Energy earlier projected the region to suffer from a power deficit until 2015 and for reserves to begin thinning again through 2017.

New SMC power plant expected to lower rates

Oro Council overrides veto on 2014 budget

SMC Global Power Holdings Corp. has begun construction of its 600-megawatt clean coal-fired power plant in Malita, Davao del Sur, seen

to lower power rates and stabilize supply throughout the region.

C onst r uc t ion of t he lower/PAGE 15

TMI starts hiring coal plant workers ABOITIZPOWER subsidiary Therma South has started hiring employees who will eventually operate the 300MW baseload power plant being constructed in the tmi/PAGE 15

By CRIS DIAZ of Mindanao News Daily

THE Cagayan de Oro City Council overrides 12-5 votes the vetoed ordinance on the city’s approved P2.3-billion

budget for this year, City Councilor Prexy Elipe said Tuesday. budget/PAGE 15

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Economy

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Davao chamber to confer Disabled Misor capitol workers power policy with other cities get funding assistance MISAMIS Oriental -- Workers with disability at the provincial capitol of Misamis Oriental were extended P 50,000 start-up funds to attend to their immediate needs, provincial governor Yevgeny Vincente Emano said on Thursday.

Emano said there are 32 worker members of the Capitol Employees with Disabilities Association (CEDA) in Misamis Oriental, whose association is duly registered with the Securities and Exchange Commissions (SEC).

He said that the start-up capital would also allow the CEDA members to expand the organization of persons with disabilities to the province’s municipal level so that the organization could also extend assistance to them.

Last year, Emano promised to organize workers with disabilities who were working with the provincial

government in a bid to “showcase their skills amidst disability.”

Newly elected CEDA President Cora Sabejon said the association is set to encourage members to share their knowledge and experience in different fields of endeavor and to coordinate efforts to promote the overall interest of persons with disabilities in Misamis Oriental.

Sabejon, who suffers from Kyphosis, a genetic mistake that causes an abnormal curvature of the spine that stunts her growth, works with the office of the provincial governor. (PNA)

THE Davao City Chamber of Commerce and Industry, Inc., (DCCCII) will initiate dialogues with other cities in Mindanao affected by brownouts.

DCCCII executive vice president Daniel Lim said the plan is to see how Davao’s own chamber organization can help shape Mindanao’s power policy.

“We are fortunate that we have no brownouts yet, but it doesn’t mean that we should be complacent because anything that is connected with Mindanao will affect Davao one way or another,” he said.

Lim said that the talks with chambers of commerce from General Santos City and Zamboanga will help

the chamber in pushing for amendments to the law.

“When we change a policy, we create a problem. It’s too early for me to comment on the Electric Power Industry Reform Act (Epira), Lim said.

Meanwhile, Vicente Lao, Mindanao Business Council (MinBC) president, said that cost was the concern as far as consumers are concerned.

He said industries are getting worried about the country’s electricity supply especially with the coming ASEAN integration in 2015.

“We don’t want the status quo at the moment. We have the highest price. We’re looking at the possibility of how we are going to reduce our costs,” he said. (PNA)

Trust funds Use, 20% of IRA, among full disclosure docs: DILG

By RUTCHIE CABAHUG-AGUHOB

OROQUIETA City -- The utilization of trust funds and the 20% Component of the Internal Revenue Allotment (IRA), are among the Full Disclosure Documents, the Department of Interior and Local Government (DILG) said.

As such, they should be posted regularly, at least 20 days after the end of each quarter, effective 2014, DILG Secretary Mar Roxas said

in Memorandum Circular No. 2013-140, he issued in December, last year.

The circular sets the Implementing Guidelines on the Full Disclosure of the Local Budget and Finances, and Bids and Public Offerings to be followed by all Provincial and Local Chief Executives (P/LCE), starting Jan. 1, 2014.

Also to be posted 20 days after the end of each

quarter are the following reports: Local Disaster Risk Reduction and Management Fund Utilization, Quarterly Statement of Cash Flow, Special Education (SEF) Utilization, Unliquidated Cash Advances and Manpower Complement.

Me anw h i l e, t he Bi d Results on Civil Works, G o o ds and C onsu lt ing Services need to be posted within the prescribed period

under the Government Procurement Reform Act and its Implementing Rules and Regulations (IRR) and must be updated quarterly, together w it h t he Supplement a l Procurement Plan, not later than 20 days after its approval by the Head of Procuring Unit.

These reports have to be posted, also in at least three conspicuous places of funds/PAGE 14

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CorporateWorld

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Philex Petroleum’s losses narrow in 2013 PHILEX Petroleum Corp trimmed its losses last year from 2012 after reducing the impairment borne from the company’s shuttered coal mine and recording gains from an asset sale.

In a disclosure to the Philippine Stock Exchange, Philex Petroleum said it incurred a net loss of P101.2 million in 2013, a significant improvement from losses amounting to P1.1 billion in 2012.

The company attributed the reduction in losses to the provision of P966.9 million for impairment of assets in subsidiaries Brixton Energy and Mining Corp and Forum Energy Plc in 2012, and to the gain on sale of unit Pitkin Petroleum Plc’s assets of P246.6 million in 2013.

Brixton closed its Zamboanga Sibugay coal mine in September 2013, following the suspension of operations in January of

the same year due to low coal prices. The company earlier assigned its rights to the mine to Grace Coal Mining and Development Inc subject to the approval of regulators.

F o r u m E n e r g y, o n the other hand, wrote off bulk of its investments in an exploration block in the Visayas in 2012 after a resource assessment it commissioned reduced the viability of finding resources in the area.

In July 2013, Pitkin completed the sale of all its interests in Vietnam American Exploration Company LLC, a Delaware company, for a total cash consideration of approximately P2.1 billion.

THE Philippines’ largest internationally owned and operated hotel brand – Tune Hotels – has continued its expansion in the country with the opening of the 182-room Tune Hotel Ortigas.

Located in the heart of Ortigas’ central business district on Shaw Boulevard,

the property is the eighth Tune Hotel to open in the Philippines in the last two years after Angeles City, Ermita, Makati, Cebu, Davao, Cagayan de Oro and Quezon City.

The hotel is located for both business travellers and leisure travellers to the area

expects Cebu coal plant Tune Hotels on expansion binge Aboitiz to be on stream by 3Q 2017 and Sahlee Zaldivia, who is the Country Head for the hotel’s owner – Red Planet Hotels, said two more Tune Hotels (www.tunehotels.com) will open during 2014, further strengthening the company’s confidence and commitment to the local tourism industry.

“By the end of 2014, we

will have a total of 1,720 rooms with ten hotels in the Philippines, cementing our position as the largest internationally owned and operated hotel brand in the country,” she said.

“Not only are we growing in numbers, but we have received tune/PAGE 14

ABOITIZ Power Corp will start construction for a new coal-fired power plant in Cebu in the second quarter of the year.

On the sidelines of a forum on Tuesday, AboitizPower president Erramon I. Aboitiz told rep or ters that the

company is analyzing the bids for the engineering and procurement contract for the 300-megawatt facility. “ We’r e w a i t i n g f o r that [before we can start construction] and we’re also talking to NGCP on how to aboitiz/PAGE 14

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Banking&Finance

BIR falls short of revenue collection target in 2013 DESPITE a high profile shame-and-sue campaign against suspected tax evaders, t he Bu re au of Inter na l Revenue (BIR) failed to hit its collection target for 2013.

In a statement, the bureau, which accounts for at least two-thirds of government re ve nu e, r ais e d P 1 . 2 1 7 trillion. This is 15 percent higher than the amount collected in 2012, but 2.95 percent short of last year’s target of P1.254 trillion.

While it narrowly missed its full-year goal, the BIR however managed to hit its target for December, with collections reaching P96.63 billion. This is 9.1 percent higher than a year ago and 6.44 percent above the P90.79 billion goal.

For nearly each month last year, the BIR failed to meet collection targets, but managed to grow revenues year-on-year, a feat that led international credit rating agencies to lift the Philippines’ credit score to investment grade, a crowning achievement for a country that once gained international notoriety for defaulting on its loans in the mid-1980s.

In fact, the government has been incurring budget deficits almost every month last year as revenues raised by the BIR and the Bureau of Customs fell short of government expenditures.

Philippine economic managers set a 2013 deficit cap of P238 billion, which is two percent of gross domestic product (GDP).

Last year’s increase in tax collections owed partly

to the record expansion of the country’s GDP, another factor that turned the credit rating tide in the Philippines’ favor. In 2013, GDP growth came in at 7.2 percent, above the government target range of 6-7 percent.

GDP is the amount of final goods and services produced in the country, and as such measures economic performance.

Also helping snag the

much-coveted upgrade was the Aquino administration’s good governance campaign against corruption and tax cheats.

The BIR last year filed tax evasion cases against a number of high-profile individuals, including world boxing champ and Rep. Manny Pacquiao and pork barrel scam suspect Janet Lim-Napoles. The cases have BIR/PAGE 14

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BDO Private Bank more than doubles gain in 2013 THE private banking arm of BDO last year proved that tending to the needs of the wealthy pays off handsomely.

In a statement, BDO Private Bank said it more than doubled its profit to P1.17 billion in 2013 from P484 million the previous year.

BD O Private Bank executive vice president Stella Cabalatungan ascribed the growth to gains in trading income.

Assets under management climbed to nearly P243 billion, exceeding the bank’s P240 billion target.

Results of the Euromoney Private Banking Sur vey 2014 named BDOPB as the country’s best in private banking services overall, a citation it also garnered the previous year.

The survey is considered t h e i n d u s t r y ’s l e a d i n g barometer of the world’s best service and product providers to the world’s wealthy. It covers more than 35 different product and client categories on a global and regional basis, and has ranking results in 73 countries. The results are based on a combination of bank-provided data and peer review.

A subsidiary of Henry Sy-owned BDO Unibank, BDOPB offers an extensive menu of private banking and wealth management services anchore d on it s op e narchitecture philosophy. By open-architecture, clients are presented the various options to manage their wealth depending on their objectives.

HSBC said remittances from overseas Filipino workers (OFW) may grow slower this year despite high demand for manpower requirements in the Middle East and the recovery in developed markets.

In a report, HSBC projects remittances to grow by 5.8 percent this year, slightly slower than last year’s 6.4

percent clip.

The forecast increase w ou l d s upp or t pr i v at e consumption growth of 5.3 percent this year, slower than the 5.6 percent last year.

“Recent news of flow data for the Philippines paints a rather mixed picture but the overall message is clear: growth/PAGE 14

PH remittance growth to slow this year, says HSBC

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Opinion

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Roque: “SC Decision Violates Human Rights Law”

L

IFE’S INSPIRATIONS: “…`If anyone sins because they do not speak up when they hear a public charge to testify regarding something they have seen or learned about, they will be held responsible’…” (Leviticus 5:1, the Bible).

-ooo PHILIPPINE CONSTITUTIONS GUARANTEE FREE PRESS: All the Philippine Constitutions---1935, 1973, and 1987---contain a provision on free press and free speech, and the phraseology about these freedoms are all similar and clear: there is absolute free press and free speech in the Philippines.

The 1935 Constitution, in its Section 8, Article III, was phrased this way: “No law shall be passed abridging the freedom of speech, or of the press, or the right of the people peaceably to assemble and petition the Government for redress of grievances.”

The 1973 Constitution, in its Section 9, Article IV was, on the other hand, phrased in this manner: “No law shall be passed abridging the freedom of speech, or the press, or the right of the people peaceably to assemble and petition the government for redress of grievances.”

The 1987 Constitution says it this way, in its Section 4, Article III: “No law shall be passed abridging the freedom of speech, of expression, or of the press, or the right of the people peaceably to assemble and petition the government for redress of grievances.”

-ooo RP ADOPTS INTERNATIONAL LAW AS LOCALLY BINDING: Then, in all of these three Constitutions, we find similar provisions (Section 3, Article II, 1935 Constitution; Section 3, Article II, 1973 Constitution; and Section 2, Article II of the 1987 Constitution) which recognize that generally-accepted principles of international law are part of the laws that must be obeyed in our country.

One of these “generally-accepted principles of international law” is Article 19 of the International Covenant on Civil and Political Rights, where the Philippines is a signatory and which says that libel laws

Member:

T

THINK

hink a minute…Sex was God’s idea. God created sex A Minute in marriage for pleasure. The

By Jhan Tiafau Hurst problem is that we have misused and twisted God’s plan for sex.

We ruin this beautiful gift from God by using sex wrongly. So we actually hurt ourselves with wrong kinds of sex that were never intended for us. Sex is like our other appetites. Just like our appetite for food is to keep our body strong and healthy, sex has 2 main purposes: for PLEASURE and PROCREATION or having children. So we must use our sex drive in the right way for it to work best for us.

The only way sex can be fully enjoyed is in marriage. It’s not lust and desire for anybody we want, so we can just use them to make us feel good for the moment. God designed us so that sex we have with anyone who is not our wife or husband is not pleasure that will keep satisfying us for a lifetime, because it’s not a permanent, secure relationship. What’s more, sex with others you do not know well is extremely dangerous because of AIDS and other sexually transmitted diseases. Remember, you’re not only having sex with that one person, but you’re having sex with every other person they have ever had sex with!

God intended sex to continually get better in marriage because you love and know each other better through the years. So even though your children are grown up, that does not mean sex has finished serving its purpose. God’s plan for sex is much more than that. Remember, sexual closeness in marriage is for both the husband’s and wife’s pleasure. That’s the kind of love God created for us to express and enjoy. Passionate love that satisfies your wife or husband and not just you.

If you’re married and don’t enjoy close, intimate love in your relationship, then you’re missing one of the greatest gifts God has given to us human beings. So why not ask Jesus to forgive you for your wrongs in your life and marriage. Then ask Him to start changing you into a new person who learns to love your mate the way God wants you to. It’s only then that your marriage can start becoming the happy, satisfying one you want for the rest of your life.

Just Think a Minute…

violate the freedoms of free speech and of the press. akampi Mo A ng Batas -oooBy Atty. Batas Mauricio “SC DECISION ON LIBEL CONTRARY TO HUMAN RIGHTS LAW”: In line with this, I would like to quote here a reaction on the recent decision of the Supreme Court upholding the provision of the Cybercrime Law which punishes online or Internet lib el f rom l aw ye r Har r y Roque, an international law expert who has been pushing for the decriminalization of libel in the Philippines.

In his blog, Roque said: “The high court should not abdicate its duty to protect freedom of expression. No less than the UN Human Rights Committee has already declared that Philippine Criminal Libel Law is contrary to freedom of expression. The Court’s decision failing to declare libel as unconstitutional is therefore contrary to Human Rights Law… We will continue the fight to nullify criminal libel…”

-ooo ANY ACT AFFECTING THE PUBLIC IS SUBJECT TO SCRUTINY: Why should anyone be interested to remove libel as a crime? There is more to be gained by mediamen, columnists, reporters and broadcasters disclosing the mischief and evil deeds, or any other act, of any person, whether in government or in the private sector, which affecst the citizenry. When a person, public or private, acts in anyway that affects the public, he makes himself susceptible to public scrutiny, and loses his right to privacy.

-ooo REACTIONS? Please call me at 0917 984 24 68, 0918 574 0193, 0922 833 43 96. Email: melaniolazomauriciojr@ out lo ok.com, b at asmaur icio@ya ho o.com and mmauriciojr111@gmail.com.

K

Sensitivity to the Word

Philippine Press Institute

Made for Pleasure

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E

specially now when we are in an age of rapid communication, we have to be most careful with the words we are using. Words, which are a staple in our exchanges with one another and have great power of influence, need to be handled properly.

Their quality both reflects and builds up the kind of person and society we are. We just have to make sure then that they do us what is truly good, that they contribute to the common good. We have to develop a keener sense of responsibility over them even as we grow in our sense of freedom in using them.

Sad to say, many now are the indications we are abusing the use of words. Gossips and idle talks are now going viral. All forms of defamation, whether of the detraction type or that of calumny, are spreading like wildfire.

Loquacity seems to be the rule of the road nowadays, dumping us with all kinds of exaggerations, reckless words, and stray insinuations. This is made worse since it is practiced not only in the context of our p ers onal dealings, but als o in large-s cale media coverages.

If not these ver y negative misuse of words, then we are also confronted with the other extreme-that of fawning adulation and flatter y, often calculated according to a hidden agenda. These too are festering.

Notice the more intense use of propaganda and hype that encourage immoral views and positions.

It’s time we become more aware of this predicament that is becoming increasingly mainstream in our society, and start to take appropriate action. We need, first of all, to realize that words have a certain sacredness that we should all respect, uphold, and defend.

That sacredness can only come from the sacredness of God’s word, from whom all our words should come and to whom they should tend. In short, we have to realize that there’s a lot of theology involved here. We just cannot confine our understanding and attitude toward words in the shifty realm of practicality alone.

St. Athanasius once said: “The word we speak is an image of the Word who is God’s Son.” This is a truth we need to digest more seriously.

To be sure, God’s word is not just the usual words we use, made of some letters and possessing a limited meaning. God’s word is none other than a person, the Son, who is the self-knowledge of God, the ver y

pattern of the creation of the universe, the embodiment and Traces of ever ything that is true,

By Fr. Roy Cimagala good, beautiful, and wise.

G o d ’s w o r d , i f w e understand it properly, is a tremendous reality that has direct and immediate relevance in our life. We s h ou l d n ot t re at it a s i f it i s s o v e r y s p e c i a l , s o mysterious that it has no relation to our daily affairs and concerns.

Our words should therefore be rooted on God’s word. They have to be inspired by God’s word. They ought not to spin off simply at the instance of our sense of justice, or our need to communicate, and much less, at the impulse of our feelings and passions alone.

We ought to have a theological understanding and attitude towards the words we use. Only then can our words convey truth and charity, expressed in the proper time and in the proper manner. Only then can they generate a good and healthy atmosphere around.

We have to take the effort to base our words on God’s word. For this to happen, we need to pray, to meditate, to enter into an intimate conversation with God who actually does not make himself hard to get, despite the fact that he is also ver y inscrutable.

As God, our Father and Creator, as the maintainer of ou r ve r y e x iste nc e, t he prov i d e r of l ove, t he foundation of reality, he is the one closest to us. He is at the ver y core of our being.

He cannot withdraw from us, otherwise we revert to nothing. This truth alone, if properly understood, should make us feel confident that we can have easy access to him.

The Book of Deuteronomy puts it this way : “This Law that I enjoin on you is not beyond your strength or your reach. It is not in heaven, so that you need to wonder, ‘Who will go up to heaven for us and bring it down to us?…Nor is it beyond the seas, so that you need to wonder, ‘Who will cross the seas for us and bring it back to us?’

“The Word is ver y near you. It is in your mouth and in your heart.”

HINTS

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THE COMPLEXITIES OF RESCHEDULING THE OPENING OF CLASSES

By DERROLD MARL S. AVES, Ph.D.

Peter den Boogert (front row 2nd from left), GM Altaaqa Global & Khalil Abdul Malik (front row 3rd from left), GM PEC & winners of Middle East Electricity Awards 2014.

Altaaqa Global wins ‘Power Project of the Year’ at Middle East Electricity Awards Altaaqa Global, as a global temporary power and energy solution specialist, recently won ‘Power Project of the Year’ for its Yemen power project and was highly commended for its role in innovation.

Dubai, UAE: Altaaqa Global CAT Rental Power has recently received the award for ‘Power Project of the Year’ for its power plant project in Aden, Yemen. Altaaqa Global was highly commended for its contr ibution to product innovation, social responsibility and impressive delivery during the Middle East Electricity Awards 2014, held at the Dubai International Convention

Centre in Dubai, United Arab Emirates.

According to the judges, “Altaaqa Global played a critical role in the electric power industry. This award category is given to a company that offers the best planning, delivery and execution of any power plant in the Middle East region. Altaaqa Global won in this category for its

excellent design, innovative power solutions, fuel savings, record-breaking project installation and an exceptional commitment to provide support to its client.”

The 54 MW temporary power plant was built in just 23 days from signing the contract and has the capacity to supply up to 150,000 homes awards/PAGE 14

The idea behind the change of the opening of the school year is anchored more on the “universalizing “ effect of aligning the Philippine education to its foreign counterparts with the notion that it will make our education system synchronize with other ASEAN universities, The objective is geared toward making education work; however, the question that lurks on the parents’ minds is the nagging question- “ Will the new school year opening make it work better in both public and private sectors? ”Will this be the engine that will drive enhanced delivery of instruction?

As a parent and teacher at the same time, I cannot just remain silent while this issue is bothering a number of academicians, parents and other stakeholders. As a parent, I find it important to look at the psychosocial perspective on how it will affect the learners’ conditioned behavior of having summer break during the hottest months of the year from March to May. This is identical to asking the question “Will the kids be ready to have cool, rainy vacation and stay most of

the time at home rather than enjoying the bright sunny days? ” We have to remember that children need a break after ten long months in school. As the saying goes “ children need to play, ” and psychologists consider play as a means by which children develop their physical, intellectual, emotional, social, and moral capacities. Play has valuable purpose, for it can provide the child an opportunity to explore high-level reasoning, insightful problem solving, and all sorts of creative endeavors.

As a teacher I would like to think deeply in the context of the roadmap for an ASEAN Community to 2015 which would mean leaving the member countries with only a year preparation-period to achieve the goal “One Vision, One Identity, One Community.”

Thus, the Commission on Higher Education takes the responsibility in facilitating t h e r e q u i r e m e nt s a n d necessary steps in improving o u r c o u n t r y ’s h i g h e r education.

Personally, I believe that changing the academic calendar is not the answer

to such noble goal. If synchronization for mobility of foreign students is the prime reason, I doubt its merits because only a small number of universities are catering to foreign students . To borrow the words of Solita Monsod in her February 14 article in the Philippine Daily Inquirer titled “Does t he academic calendar matter?” she cited De Dios’ explanation that “What he finds is that the academic calendar influence is never statistically significant. What are significant contributors to attracting international students are the papers/faculty and international faculty.

Let there be no rush in changing the opening of classes. What is imperative is to revisit the curriculum and its delivery modes to meet labor market needs.

For instance, at Capitol University, the OutcomesBased Education and the Quality Management System have been put in place in all programs even before CHED has issued such order. The focus is on learning outcomes, which I believe is the best move in addressing the challenges in Education for ASEAN Community 2015.

Peace and Equity Foundation Kapihan Session goes to Davao for Cacao The Peace and Equity Foundation’s (PEF) will hold its third Kapihan Session to discuss the country’s cacao industry in a forum dubbed as “Cacao in Davao” slated at the Hotel Vicente, Davao City on Feb. 19 at 9:30 a.m. PEF is an organization that promotes communitybased and sustainable social enterprise.

“Cacao in Davao” will serve as a platform where PEF and its partners will map out plans to strengthen t h e c a c a o i n d u s t r y, especially on the production and manufacturing side. “ There will be an estimate of one-million metric ton deficit in cacao supply by 2020 based on a report released by DTI. In ‘Cacao in Davao,’ we will discuss how we can open up opportunities for our partners to either expand their production capacity or shift to cacao bean production. We are here to support them till the completion of the project,” said PEF Executive Director Roberto Calingo.

According to industry researches, people consume about 60,000 to 90,000 metric ton every year. Locally, the country consumes 30,000 to 40,000 MT of cacao beans every year, but the local cacao indust r y on ly gets to

produce 6,000 MT, which are exported. As a result, the Philippines is considered to be a net importer, acquiring about 20,000 MT cocoa beans, amounting to $ 42 million.

“It is very important to take note of the growth of the cacao industry in the country. With people knowing more and more of the health benefits of cocoa-rich chocolates and its global use, there is a need for the Philippines to be at par with the global demand.

This is one of the reasons why PEF identified cacao as one of the component of the C5 Project,” said Calingo. C5 Project is an abbreviation for farmers who raise cacao, coffee, cane sugar, coconut, and who practice climate-smart agriculture.

Added Calingo: “We have invited speakers from different sectors, who have a strong background and knowledge in the cacao industr y and who can definitely share important insights to our partners in growing their business.”

Invited speakers include Josephine Ramos, managing partner, OPTIONS, Inc.; C h a r i t a P u e nt e s p i n a , president, Cacao Industry Development Association of Mindanao, Inc. (CIDAMI); Peter Cruz, chief, Mars

Cocoa Development Center’s (MCDC); Remelyn Recoter, regional director, Department of Agriculture (DA); Ernesto Coquilla, marketing director of C ho colate San Isidro, Subasta Integrated farmers Multi-Purpose Cooperative; Dante Muyco, marketing director, Chocolate de San Isidro; and Philo Chua, founder, Theo and Philo Artisan Chocolates. PEF’s Board Member Ms. Pacita Juan and PEF’s Executive Dire c tor Mr. R ob er to Calingo will also grace the event.

Pe a c e and E qu it y Foundation is an organization that promotes community-based and sustainable social enterprise. PEF’s mission is to help rural households to have sustainable incomes and rural communities to have productive assets, basic social services, and resiliency against climate change. Since 2001, PEF has long been providing f i n an c i a l s upp or t for numerous povertyreduction programs across the Philippines.

With the foundation’s vision, PEF continuously ai ds p e opl e to bu i l d, promote, and scale up social enterprises.

For more information, visit www.pef.ph.

MSI-ECS named 2013 EMC Distributor of the Year In the recently concluded EMC Partners’ Kick-Off dubbed “The Voice of EMC Philippines”, MSI-ECS took the limelight for winning the 2013 EMC Distributor of the Year Award following its accomplishments on the following criteria: 13% of EMC’s total product revenue, 35% of EMC’s total incremental product revenue, 86% of EMC’s Distributor revenue, 72% of EMC’s total incremental Distributor revenue and incremental revenue achievement of 75% last 2012. Photo shows (L-R), Chee Heng Loon, EMC channel director, Southeast Asia, EMC; Jon Murray, director, office of global product sales, EMC; Coco Aguilar, EMC product manager; MSIECS; Svet Paner, AVP sales and marketing, technology enterprise group, MSI-ECS; Nicky Francisco, channels manager, EMC Philippines; and Ronnie Latinazo, country manager, EMC Philippines.

MSI-ECS has consistently bagged the award since 2011.

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Cinema Rehiyon 6 holds CineBarangay at Balulang, Xavier Ecoville

by Althea Dianne J. Felix

E

very film is made with such care and attention by its filmmakers that it would be so difficult to not be able to see the beauty of every independent film that was created watched by the audience in different time and in different places.

One of the most awaited event of filmmakers and film enthusiasts of Cagayan de Oro City is the CineBarangay of 6thCinemaRehiyon: Filming the Frontiers in Barangay Balulang and at the Xavier Ecoville, which is an XU-led Sendong resettlement village in Barangay Lumbia, February 19 and 20.

Aside from entertainment, the films tackle the importance of disaster preparedness.

“Part of CineBarangay is giving the communities a multimedia forum on

climate change resiliency and disaster risk reduction management,” CR6 Festival Director Hobart Savior said.

The screenings of films runs for two hours, handled by Ryan Louie Madrid, also the project head of Xavier Ecoville.

One target of the said event was for the audience to appreciate what Filipino films truly are which do not embark on profits alone, but also reflect upon the realities in our society.

CineBarangay also aims to promote culture and arts through this artistic medium.

In Barangay Balulang, the filmshowing transpires at their covered court, from 6-8p.m., February 19 while the other one will be held tonight, February 20 at Xavier Ecoville Multi-Purpose Hall, also from 6-8 in the evening.

Xavier University-Ateneo de Cagayan’s Engr. Dexter Lo (standing, center) discusses the necessity of preparedness for disasters and risk reduction and how films can help spread the awareness at the forum for filmmakers dubbed as CineTalakayan as part of the Cinema Rehiyon 6 activities, February 19, at the Pryce Plaza Ballroom.

Photo by Mariejo Indira Ghandi Saligumba

Critically Acclaimed Mindanao Filmmaker Arnel Mardoquio discusses the difference between “indies” and mainstream cinema during CineTalakayan - a forum for the Cinema Rehiyon 6 delegates, February 19, Pryce Plaza Grand Ballroom. Mardoquio also said that the “indies” strive to be free from the “formula” of mainstream Philippine cinema. Photo by Mariejo Indira Ghandi Saligumba

Students and guests fill the Xavier University Little Theater during CineTalakayan - a forum on filmmaking, February 19, xavier University. Photo by Frances Vyne A. La Victoria

Xavier University-Ateneo de Cagayan President, Fr Roberto “Bobby” Yap SJ (left) and outgoing national committee for cinema head Dr. Miguel Rapatan (right) lead the ceremonial cutting of the ribbon - during the opening of the Cinema Rehiyon 6 : Filming the Frontiers festival exhibit, February 18, at the SM City Event Center together with CR6 Festival Director Hobart Savior (far right) and SM City CDO officials, guests and delegates as witnesses. Photo by Frances Vyne A. La Victoria

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Taipan cites CDO’s Global Competitiveness as critical for investment location choice

By Mike Baños

O

ne the country’s pioneering taipans has cited the global competitiveness of Cagayan de Oro as a critical factor in locating its biggest residential/ commercial investment in the country.

Guillermo D. Luchangco, Chairman and CEO of the ICCP Group, said its overall competitiveness was what swayed the group to locate Pueblo de Oro Township in the city.

“Pueblo de Oro Development Corporation (PODC) did not just throw a dart at the board when selecting Cagayan de Oro as an investment site; we actually did a thorough study,” Mr. Luchangco said during his testimony during the Cagayan de Oro Business Forum held 12 February 2013 at the Grand Ballroom of the Intercontinental Manila.

“This study showed that Cagayan de Oro offers many attractions to businesses in terms of economic prospects, availability of quality human resources ready and willing to work, infrastructure and accessibility. It is, pardon my

English, a damn nice place to visit or to invest in or to live and work in.”

The taipan said the group had to put a lot of study into the choice of location for the 360-hectere Pueblo de Oro Township, which was the largest single project the company has undertaken to date so they had to be careful in selecting the site.

“First of all, it is the business and educational center of Northern Mindanao,” he noted.

“As recently as 2012, the National Competitiveness Council ranked it the Number 1 City in the Philippines in terms of Overall Competitiveness.”

“What struck me first and foremost was what a nice place Cagayan de Oro is,” Mr. Luchangco noted. “I have never yet met a person who visited the city and then said he didn’t like it. I myself call it “Marlboro Country” because of the rolling hills, the river down below and the sea along its northern edge.

And yet, it offers the amenities of an urban area so what you have is an enjoyable lifestyle. You have beautiful countryside but at the

Guillermo D. Luchangco at Podium of CDO Business Forum

Guillermo D. Luchangco shaking hands with Mayor Oscar S. Moreno at the CDO Business Forum

Guillermo D. Luchangco at CDO Business Forum

same time, you too can live in a city, one which does not have as much hustle and bustle as over-crowded cities like Manila. And the people are in general friendly, which is why it is known as the city of golden friendship.

But it was the “hard numbers” which convinced the group to locate in Cagayan de Oro. He cited the 7.4 percent growth rate in 2012, higher than the national average of 6.8 percent, with higher average annual family income and expenditures (as of 2000 the latest year for such information was available for Philippine cities), both higher than those of Davao, Cebu or the entire country’s average.

As a developer of residential and mixed –use properties, Mr. Luchangco said PODC also found the higher than average concentration of middle income people in the city’s overall population as another plus factor due to the substantial share of trade and commerce in the local economy.

This, on top of its agricultural production in its hinterlands and proliferation of fast growing tourism destinations.

Another plus factor he cited is the increasing number of f lights being offered by local carriers complemented by the recent move to the bigger Laguindingan Airport which would soon make international air links possible.

The group also noted the relatively good infrastructure like which complement each other such as the Macabalan International Seaport and the nearby Mindanao International Container Terminal in Tagoloan, Misamis Oriental which

can handle up to 6.5 million metric tons of containerized cargo per year.

“Did you know that because of its location along the northern coastline of Mindanao as compared to Davao’s location on the southern part of the island, goods from the heartland of Mindanao, which is rich in resources and in agricultural and mineral products, can save as much 1 ½ days in shipping time to Manila?”

In addition, the group’s study revealed that Cagayan de Oro also enjoys lower labor costs, power costs with electricity charges lower than neighboring cities or the national capital region, on top of a similarly low crime rate.

Another plus factor cited by the taipan was the presence of 15 universities and colleges with a high standard of education, with the entire Region X having 83 colleges and universities to choose from.

“Cagayan de Oro has since developed into a city which offers many beautiful, comfortable and modern villages for an expatriate, or a Filipino from another part of the country, to live in with his family should his work take him there.

“With the signing of the Framework Agreement between the Philippine Government and the MILF, and the progress being made towards finalizing the details of that agreement, just imagine the surge in business potential of Mindanao arising from the re-direction of national resources previously tied up in military campaigns and the increased accessibility of the island’s fertile farm lands and rich mineral resources to peaceful purposes. Now is the time to invest in Cagayan de Oro and in the rest of Mindanao!

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DOST to hold IEC Roadshow in CdeO

MetroCDO

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by Jasper Marie Oblina-Rucat

T

he Department of Science and Technology (DOST) is set to conduct an Information, Education and Communication (IEC) Roadshow dubbed “Science for Safer Communities” on March 10 to 11, this city.

During the 2nd Regional Disaster Risk Reduction Management Council - Technical Working Group (RDRRMC-TWG) meeting, Narvinso S. Tan of DOST-10 said that the Roadshow will be conducted in 16 regions in the LAMBO MISAMIS ORIENTAL . Governor Bambi Emano speaks to over 6, 000 participants of the country including Northern Mindanao.

21st Singles For Christ (SFC) International Conference on February 14 at the Misamis Oriental It aims to gather all knowledge products of DOST-funded research and development initiatives Sports Center. Governor Emano presented to the crowd his tourism programs. (photo supplied) and to disseminate, educate and assist local government units (LGUs) and other stakeholders on how to maximize the use of these knowledge products to reduce disaster losses.

Further, he said that they intend to use Information, Education, and Communication (IEC) activities to the regions to familiarize the latest DRRM technologies and services now available for use; strengthen the local decision-making capability on DRRM through DOST products and services and to help LGUs become more knowledgeable of the hazards in their area so they can plan accordingly.

IEC materials to be shown and distributed in this Roadshow are Audio Visual Presentations (AVP) of project NOAH as tool for emergency preparation, magazine and booklets, localized hazard maps, Philippine Institute of Volcanology and Seismology (PHIVOLCS) and Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) materials MISAMIS ORIENTAL – Vice Governor JOEY G. PELAEZ donated Polyethylene Pipes to Barangay and DOST - Science and Technology Information San Jose, Talisayan, Misamis Oriental last December 14, 2013. Present during the TurnInstitute new IEC materials.

Over of the materials were Barangay Captain Leonard M. Winstanley and the Members The beneficiaries of this project added Tan of the Barangay Council. The materials donated will serve as additional improvement are LGUs, local DRRM organizations, civil and extension of the waterworks system so that its coverage would widen and reach out society organizations, public and private learning to other sitios of the said Barangay. (photo supplied) institutions and other stakeholders. (JMOR/PIA10)

Philippine Red Cross Misamis Oriental-CDO Chapter held its first Regular Board Meeting for 2014 at Capitol University Medical City.

Board Chairman Atty. Tony Soriano (6th from Left, Standing) is joined by (Standing, from left) Mr. Eusebio Aguanta of Deped, Mrs. Arabel Radaza, Manager of the Mindanao Regional Blood Center, Carlo Hollanes of Red Cross Youth, Dr. Ramon Nery of CDO City Hospital, Dr. Myra Yee, Chapter Administrator, Vice Governor Joey Pelaez, Clifford Roa, Board Secretary, Arch. Richard Tan, Gina Arayan, Social Welfare Officer representing LGU Cagayan de Oro and PSI Estela Chavez representing PNP Region 10. (Seated, from left): Brgy. 21 Chair Gilda "Gigi" Go, Mrs. Justina "Inday" Uy of Bettina Trucking, Dir. Linda Deleste of CUMC, Dir. Cecilia Rafols and Past Chapter Chairperson Ester Causin. Major items discussed were the accomplishment report for year 2013 and objectives and targets for 2014. Photo by Clifford Roa, BWM Correspondent

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Search for Best Performing Food Terminals is on Cagayan de Oro City - In an effort to provide an incentive system to commendable performing Food Terminals (FTs) within the region, the Department of Agriculture – Regional Field Office 10 (DA-10) has recently convened the members of the Search and Evaluation Committee for Best Performing Food Terminals in Northern Mindanao.

According to Cora E. Balabat

(left photo), FT Focal Person, the search is open to all FT operators who have ran the said project at least one year prior to the evaluation whose organization is duly registered by the Securities and Exchange Commission (SEC) or the Cooperative Development Authority (CDA) and to those who have exuded satisfactory performance in the operation and management of their respective

FTs, both at the municipal and barangay levels.

Out of the FT nominees, the Search and Evaluation Committee shall choose ten (10) barangay FT finalists and three (3) municipal FT finalists based on social and economic relevance/impact, which comprises 50% of the total score (linkage to farmers, employment generated in the locality, savings to consumers in terms of transport

cost and/or low price received and service to the community) and on the project operation, which comprises the remaining 50% (profitability, adherence t o s a n it at i on an d hy g i e n e , innovation/strategy, utilization and maintenance of equipment and facilities).

Field evaluation by the Search Committee shall be conducted on March 15-28, 2014. Declaration

of winners, meanwhile, will be on May 15, 2014 during the Farmers and Fisherfolks Month celebration.

The competition has set aside P 90,000 worth of prizes for the awardees, wherein the exemplary MFT (1) shall receive P 30,000 while the top performing barangay FT (1) shall receive P 20,000, P 15,000 for the 2nd prize winner and P 5,000 each (5) for the 3rd placers. # (JLOlson, DA-10)

DEBUNKING THE MYTHS - ONLY IN THE PHILIPPINES PNP hires new cops • Debunking key health scare myths about autogas usage in vehicles • Reinforcing key safety and sustainability issues in the growth of the use of LPG in the Philippines

Manila, Philippines - Borrowing the popular moniker “Only in the Philippines”, it seems that the use of LPG as an alternative fuel has developed several unique “health problems” in the Philippines that is stifling the industry. LPG-fuelled (Autogas) Vehicle Users have reportedly suffered adverse sideeffects when using their autogas vehicles… but this seems to be a problem, only in the Philippines.

According to the latest figures since 2012, there are over 23.2 million vehicles worldwide running on autogas. (Source: WLPGA) 23.2 million users have been using their vehicles, day-in day-out with no reports of adverse effects on health to the drivers. In the Philippines, claims ranging from nausea, headaches, to even death has been blamed on LPG conversions, mostly propagated by enthusiastic taxi drivers willing to tell you a friend that they know has perished after converting their taxi to run on LPG. Whereas there is no proof to support that LPG has caused adverse health effects, diesel, the alternative to LPG that most drivers in the Philippines are using, is most definitely death-causing. The World Health Organization (WHO) has classified diesel engine exhaust as carcinogenic or cancer-causing to humans in 2012. Premature deaths caused by air pollution topped 2 million people every year (Source: Journal Environmental Research

Letters), with East Asia accounting for more than half of that. More needs to be done to provide a cleaner fuel for transportation that doesn’t result in more than 1 million people dying every year.

Autogas is widely used worldwide as a “green” fuel, as it decreases exhaust emissions and harmful c an c e r- c au s i ng p ar t i c u l ate s .

Compared to diesel, autogas emits 25% less carbon and 90% less particulates. Especially in trafficjam prone cities like Manila, where a high concentration of people are exposed to diesel emissions on a daily basis, reducing particulate emissions by 90% can have a drastic impact on the quality of life for everyone.

Why are we not switching to autogas?

From the 10 to the 12 March 2014, over 500 industry experts and participants will be gathering in Manila, Philippines for the Asian LP Gas Summit 2014. An industry summit, the conference and exhibition will highlight key safety and sustainability issues when it comes to the utilization and usage of LPG in emerging countries like the Philippines. The conference will note only address the issue of autogas and health, but also safety in usage, household use and showcase new technologies available.

The Summit is co-organized by the Partnership for Clean Air (PCA),

and supported by the Liquefied Petroleum Gas Industry Association (LPGIA) and the World LP Gas Association (WLPGA).

Note to Editors: About the Asian LP Gas Summit This annual conference and exhibition is organized as the only technical focused conference and exhibition for the Liquefied Petroleum Gas (LPG) industry in Asia. Last year, the event was held in Ho Chi Minh City, Vietnam and this year, the event will be hosted in Manila, Philippines at the Manila Hotel on the 10 – 12 March 2014. The event is organized by the LPG Summit (part of All Events Group) and co-organized by the Partnership for Clean Air. The event is supported by the Liquefied Petroleum Gas Industry Association (LPGIA), World LP Gas Association (WLPGA), Clean Air Asia, Viet Nam Gas Association, Kommuntasi Migas, European Chamber of Commerce of the Philippines, and the Australian New Zealand Chamber of Commerce of the Philippines. www.lpgsummit.com/asia For more information, please contact: Vincent Choy, Director LPG Summit T: +65 6506 0965 F: +65 6749 7293 M: +65 9841 0641 E: vincent@lpgsummit.com

By Elaine O. Ratunil

Pursuant to its mandate the ensure public safety and internal security, the Philippine National Police (PNP) is now accepting interested applicants to Police Officer I. According to PCSupt Isagani F Genabe Jr, regional director of Police Regional Office 10 (PRO-10), the hiring is set primarily to augment present strength of the PNP. To be qualified, interested applicants must possess the following: a natural born Filipino citizen; of good moral character; must have passed the psychiatric/psychological, drug and physical tests; and must possess a formal baccalaureate degree from a recognized learning institution.

Must possess any of the following eligibilities: Republic Act (RA) 1080 (Bar and Board Examination), PNP Entrance Examination (NAPOLCOM), RA 6506 (Licensure Examination for Criminology Graduates), P.D.No.907 (Granting Civil Service Eligibility to College Honor Graduates), CSC Professional; must not have been dishonorably discharged from the military employment or dismissed for cause from any civilian position in the government; and must not have been convicted by final judgment of an offense or crime involving moral turpitude.

Have a height of at least 1.62 cm (5ft. 4in.) for males and 1.57 cm (5ft. 2 in.) for females. Weight must not more or less than five kilograms from the standard weight; and 21 nor more than 30 years of age.

No record of criminal of criminal, administrative or civil case on file before any prosecutor’s office or ant Court of Justice and other derogatory records(s).

The following requirements must be submitted and photocopies must be authenticated by the issuing agency/office, Civil Service Personal Data Sheet (Revised 2005); NSO Birth Certificate; Certificate of Eligibility; 2 pcs. 2x2 colored picture with name tag, one 4R half body picture, and one 4R whole body picture; Transcript of Records/Diploma; and local clearance such as Barangay clearance, Police, RTC/MTC and NBI. Interested applicants, may inquire at the nearest Police Station or Police Provincial/ City Office. They may also visit PNP Regional Office 10 at Camp 1Lt Vicente Alagar, Cagayan de Oro City for more details. You can also download application forms at http://pnp.gov.ph/portal/ index/career-opportunities and submit it to said office.

(EOR/PIA)

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Funds... from page 2

the Provincial Capitol, City/ Municipal Hall and other government-owned facilities, such as the social center, gymnasium, auditorium, manpower development center, training center, transport terminal, public market, public school, health station or center and hospital.

Me anw hile, Sanivier G. Patoc, DILG Provincial Director of Misamis Occidental, said copies of these financial documents may be provided by the P/ LCE to the media, civic society organizations, basic sector, and business groups, the reproduction of which shall be at the expense of the requesting party.

Tune... from page 4

a great deal of acceptance among the travelling public for the value for money that we provide.”

Tune Hotels is a sister company of Air Asia Airlines.

The two further Tune Hotels to open in the near future will be in Aseana City (200 rooms, May 2014) and Ayala Avenue, (189 rooms, November 2014).

T h e e x p a n s i on w i l l allow the company to take advantage of the 24% growth in tourist arrivals projected by the Department of Tourism for 2014.

“We are fully committed to helping expand, and grow with the international and domestic travel industries in the Philippines,” Ms. Zaldivia said.

Red Planet Hotels Chief Executive Of f icer, Tim Hansing said even more sites are being sought to build new hotels in the Philippines.

“We see the Philippines as the perfect platform to drive the South-East Asian expansion of Tune Hotels because of the country’s acceptance and embracing of new and inspiring brands that enable travel to the wider population,” Mr. Hansing said.

“Our performance since opening our first hotel in Cebu and Angeles City in February 2012 have given us a great deal of confidence to expand further.”

Since its establishment in Malaysia in 2007, Tune Hotels has 41 operating hotels worldwide: In the Philippines (8), Malaysia (12), Indonesia (9), Thailand (4), England (4), India (1), Japan (1), Scotland (1) and Australia (1).

Aboitiz... from page 4

interconnect the plant to the grid,” Aboitiz said, referring to the National Grid Corp of the Philippines.

NGCP is a privatelyowned corporation in charge of operating, maintaining, and developing the country’s power grid. It transmits highvoltage electricity through “power superhighways” that include the interconnected system of transmission lines, towers, substations, and

related assets.

“If we’re able to start construction towards the end of second quarter or middle of the year, we expect it to be up and running in the third quarter of 2017. A lot depends on how fast we’re able to do things,” Aboitiz said.

AboitizPower is the power generation and distribution arm of the Aboitiz Group, a conglomerate with invest ments in energ y, banking, food, manufacturing, among others, that traces its roots to Cebu.

T h e c o m p a n y, i n partnership with the Metrobank Group, Vivant Corp and Formosa Heavy Industries of Taiwan, operates a 246-megawatt coal-fired power plant in Toledo City, Cebu.

BIR...

from page 6

yet to prosper in court.

The legal suits are part of the bureau’s Run After Tax Evaders (RATE) Program, an initiative that began during the Arroyo administration and which President Benigno Aquino III continued.

Last year also saw the BIR tightening tax monitoring of professionals, the selfemployed, as well as online transactions.

Growth... from page 6

the country’s consumptionled story still holds,” HSBC economist Trinh Nguyen said.

Remittances made up 8.4 percent of GDP in 2013, slightly down from 8.5 percent in 2012.

Cash remittances coursed through banks grew by 9.1 percent to $2.2 billion in December last year, according to Bangko Sentral ng Pilipinas (BSP). Full year remittances increased by 6.4 percent to $22.8 billion in 2013.

Despite slower remittances this year, HSBC maintains its projection for the country’s gross domestic product (GDP) growth this year at 5.9 percent from last year’s 7.2 percent.

“We do not believe the net outflow of funds in January will bring about major systemic risks to the economy.

For one, the foreign reserves amount is still rather high and substantial enough for the central bank to support the currency should it become necessary,” Nguyen said.

HSBC said the a c c u mu l at e d p o r t f o l i o investment of $17.2 billion from January 2009 to January 2014, while a sizeable amount, is not enough to pose systemic risks.

The BSP earlier said the country suffered net outflows of $1.8 billion in portfolio funds last month, higher than the $354 million in December.

“While the reversal of portfolio inflows in December and January caused volatility in the financial market, causing the BSP to draw down its reserves, we do not expect it to drastically dampen growth momentum.

The reasons are simple: the Philippines has a current account surplus, thanks to steady remittance inflows, p r u d e nt f i s c a l p o l i c y, favorable demographics and still manageable inflation,” Nguyen said.

BSP data show foreign reserves declined to $78.9 billion last month from $83.9 billion the previous year.

Inflation meanwhile picked up to 4.2 percent in January from 4.1 in December.

As a result, the BSP had been issuing more hawkish statements, raising expectations of rate hikes, according to HSBC, which expect Philippine monetary authorities to hike policy rates in the second half this year, taking the overnight borrowing rate to four percent.

The overnight borrowing and lending rates have been at record lows of 3.5 percent and 5.5 percent, respectively, since October 2012.

Awards... from page 9

with electricity, benefitting more than half a million people in the city of Aden.

Khalil Abdul Malik, General Manager of Yemen’s Public Electricity Corporation, commented, “Altaaqa Global is not only our supplier, but a real and genuine partner that helped us to solve the most difficult energy challenges in our country. Their strategic approach to solving complex electrical challenges combined with stellar innovation, unequalled customer support, the best of breed fuel-efficient power solutions and an impressive on-time delivery is a real testament to their achievement. They have gone the extra mile and made an indelible mark in Yemen as one of the most reliable temporary power companies.”

“We are humbled when our peers in the engineering and construction industry

recognise our hard work in providing temporary power solutions to areas where electricity is scarce or not available,” said Peter den Boogert, General Manager of Altaaqa Global. “We are also proud of our record as the fastest energy rental company that can deliver power rental solutions at a moment’s notice, even during emergencies. Altaaqa Global has been recognised with this momentous award and I attribute our success to the team spirit and combined diligent efforts of our great people.”

Steven Meyrick, Board Representative of Altaaqa Global, added, “We are always committed to deliver exceptional temporary power and energy solutions anywhere in the world. Every employee knows that hundreds of millions of people rely on us every day and that is what our job is all about – providing a service to the people. Our

organisation goes beyond the paradigm of rental power: we not only provide boxes of generators, but we provide progress too. We bring hope and stability to communities, companies and entire nations through our energy solutions.

No matter how complex our clients’ problems may be, we always have the right solutions and are always ready to serve.”

Majid Zahid, Director for Strategic Accounts at Altaaqa Global, said, “This achievement demonstrates our capability to deliver effective and efficient energy solutions.

Our strategic partners in Caterpillar, together with our engineering team, always provide the most modern equipment and innovative solutions that no other rental power company can match.

Our work in Oman, where we installed 24 MW in just 96 hours, and our Yemen power plant, which took only 23 days to build, are energy industry record breakers.”

Expect cold winds in February says PAGASA

By Jasper Marie Oblina-Rucat

CAGAYAN DE ORO CIT Y, Feb. 20 (PIA) – The Philippine Atmospheric Geophysical and Astronomical Services Administration (PAGASA) says that the months of January to March is the peak monsoon season wherein we experience cold winds.

Luz Mercado of PA G A S A N o r t h e r n Mindanao revealed during the 2nd Regional Disaster Risk Reduction Management Council - Technical Working Group (RDRRMC-TWG) meeting that on February 19, they have recorded a temperature of 18 degrees Celsius in Cagayan de Oro. She said that this year, the months of January to March are the peak monsoon season, where we experience cold winds also known as “amihan” or northeast monsoon.

She adds that we are already experiencing this cold weather this month.

The lowest temperature they have recorded was on February 9 with 17.5 degrees C elsius, she added.

On the other hand, she said that there will be a transition in the month of March. We will not have the “amihan” or northeast monsoon but we are heading for “habagat” or southwest monsoon. By that time, we expect development of Tropical Cyclones or storms.

She said that starting the month of May up to September, depending

on the formation of the weather system, w e w i l l h av e t h r e e tropical cyclones. We will experience strong winds from “habagat” or southwest monsoon.

Further, she said that

we expect an average of 19 to 20 typhoons per year.

As of now, we have had already two typhoons, Agaton and Basyang, the next typhoon will be called Caloy.

Presently, she said

that we have patches of clouds over the Philippine Area of Responsibility ( PA R ) , w h i l e t h e r e is a development of convictive clouds in the Pacific Ocean. (JMOR/ PIA10)

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Power... from page 1

by Cagayan Electric Power and Light Co Inc (Cepalco) with which it also sells the output of its diesel plant to.

Besides the said power facility, Minergy, through its subsidiary through Minergy Coal Corp. is also developing a 110-megawatt coal plant in Balingasag town in Misamis Oriental, which is estimated to cost P420 million to put up. The company plans to start construction within the first quarter and complete the plant by 2017.

Lower... from page 1

facility, which will have an initial capacity of 300 MV, is currently in the soil investigation and foundation work stage. It is slated for completion in 2015.

San Miguel Corporation (SMC) president and chief operating officer and SMC Global Power chairman Ramon S. Ang said that the new facility will be very cost-competitive as it was purposely designed to utilize local coal from three mines that the company is also set to operate in South Cotabato.

“We want to be able to bring down costs of electricity not only in Mindanao but also for the entire country through the assistance of DOE to expedite the grid connection of Mindanao to Luzon. Some of the major factors for the high prices of electricity are import and trading costs, plus the logistics cost to transport the coal from overseas to the power plant. By utilizing our own local coal supplies, we will be able to minimize these logistics costs and trader’s markups,” Ang said.

The new power plant will promote clean coal technology and make use of modern, cutting-edge combustion technologies that have passed international environmental standards.

SMC Global Power is the Philippines’ biggest privately controlled power producer in terms of installed capacity and aggregate share of power sold to the national grid. Its diversified power portfolio includes the 1,200-megawatt Sual coal plant in Pangasinan province, the 1,200-megawatt Ilijan gas-fired facility, an d t h e 3 4 5 - m e g aw att San Roque hydroelectric plant, also in Pangasinan.

It is also constructing a new 600-megawatt coal-fired power plant in Limay, Bataan designed to use the same local coal in Mindanao.

TMI... from page 1

southern Davao City.

According to company officers, some 140 jobs are available from the power station manager down to office and administrative staff.

The number is expected to increase with the need for support service workers, which will be outsourced to service companies.

Hiring is ongoing as the

power plant is expected to be in full commercial operations by early 2015, bringing much needed capacity for the Mindanao grid which is suffering from an acute shortage in power supply.

“True to our promise, we are offering these job positions to qualified residents of our host LGUs Davao City and Sta. Cruz,” Therma South president and chief operating officer Benjie A. Cariaso said.

“We are actively looking for candidates from our host community and we consider it even better to hire from the locality. However, for those positions where we cannot find qualified applicants from the locality, we will widen our search to the pool of applicants that we have received from different areas of the Philippines.”

Job wanted advertisements have been published in local and national newspapers and the company has received hundreds of applications from Davao and the rest of the country. The available jobs have also been posted in the barangay halls in Bingo and Inawayan.

“We are also hoping to entice OFWs to consider coming home and work for a Philippine company and be closer to their families,” Cariaso said.

Mechanical and electrical engineers, especially those who have experience working in power plants and electric power utility companies are given preference.

The company is also looking for young engineers who will be sent for training - domestic and overseas - to compose the backbone of the operations of the power plant.

Already, the company has hired several technical officers and some have been sent for training and exposure in Cebu, Manila and even overseas.

Office personnel from accounting, procurement and administrative officers are also needed.

Cariaso said the company is happy to have found an engineer and a chemist from Binugao -- both now being considered for employment.

“We have to make sure our power plant would be run by the most qualified, best trained and committed team,” he said.

At present, some 3,000 workers are currently working on the construction of the Therma South power plant project, Cariaso added. (PNA)

Budget... from page 1

Elipe, head of the city council’s powerful finance committee, said that the arguments of City Mayor Oscar Moreno when he vetoed some portions of the approved 2014 budget did not satisfy the city council.

He said that Moreno vetoed 10 ordinances on the approved 2014 annual budget. Five of the vetoed ordinances were marked as “directly” vetoed and another

15

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five ordinances as “indirectly vetoed.”

In h i s e x p l a n at i o n , Moreno said that “he vetoed the approved ordinances because it were prejudicial to the public interest and that the city council “exercises grave abuse of discretion resulting to the lack and excess of jurisdiction.”

Elipe said that Moreno a l l e g e d t h at t h e 2 0 1 4 approved annual budget was illegal and that the city council has encroached the authority of the city executive when the city council made changes in the proposed 2014 budget.

Moreno proposed a P2.6billion budget for 2014, up P400 million than the city’s approved budget of P2.2 billion in 2013.

Elipe said that the City Council has approved a P2.3

billion annual budget on Feb. 3, 2014, down by P300 million as proposed by the City’s Executive department.

One of the ordinances of the approved P2.3 billion budget for 2014 which could have infuriated Moreno was the reduction of the intelligence, discretion, and confidential fund to P10 million from a high of P40 million as proposed by the city executive.

The legislative body also reduced the target PhilHealth benef iciaries to 25,000 instead of the 100,000 with a corresponding premium of P 240 million, Elipe said.

Elipe dared Moreno to file charges against the local august body, if the city mayor believes that the City Council has done anything illegal in the approval of the 2014 budget. (PNA)

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DTI implements P4.86 million SSF projects in Mis Occ

By Rutchie Cabahug-Aguhob

O R O Q U I E TA C I T Y, Misamis Occidental, Feb. 20 (PIA) – At least 13 projects worth P4.86 million will be implemented by the Department of Trade and Industry (DTI) under the Shared Services Facility (SSF) Program in Misamis Occidental, this year.

Five of these projects worth P1,559,164 or 32.05 percent are located in the First District of the province, while eight others, worth P3.305,717 or 67.95 percent are located in the 2nd District, Delia M. Ayano, Provincial Director of DTI, said.

Identified and approved in 2013, these projects, in the form of machinery and equipment, are now ready for release and implementation, after the memorandum of agreement (MOA) for the SSF undertaking have been signed, last February 18, by the officers of the cooperatives, who are among the SSF beneficiaries, at Villa Amor Hotel and Restaurant, this city.

Ayano said the SSF answers the gaps in the cooperatives’ business endeavors, particularly the lack of machinery and equipment that tend to get a big share of their capital, which the DTI have found to be the reason why most of the Micro, Small and Medium Enterprises (MSME’s) have closed-shop.

Meanwhile, the SSF projects, their amount and the cooperative-beneficiaries in the First District are as follows: Rubber Processing Project in Oroquieta City and Lopez Jaena, P400,000 and the same project and amount in Concepcion, both for the Paglaum Community Development Foundation, Inc. (Paglaum).

Bamboo Node Primary

Processing Facility in LopezJaena, P277,000 for the People’s Economic Tourism and Livelihood Foundation, Inc. (PETAL), Upgrading of Banana Chips Processing Equipment, in the same town, P382,922, for the Mission for Indigenous and Self-Reliant People’s As s i s t an c e ( M I SPA ) , Foundation, Inc., and Upgrading of Moron Processing Equipment in Plaridel, P99,242, for the Len Unideba Agrarian Reform Community MultiPurpose Cooperative.

In the 2nd District: M o b i l e C o c o Hu s k Decorticating Machine, Portable Baler and Twining Machine in Bonifacio, P462,800, and the same machine and amount in Tangub City, both for the CARP Federation of Misamis Occidental (CAFEMO).

Seaweed Processing Equipment in Ozamiz City, P199,797 for the Catadman/ Manabay Guso Growers and Fisherfolk Association (CMGGFA), and the same equipment and amount, in the city for the Kasama sa Dimaluna (Kasama).

Bamboo Node and Hub Processing Facility in Clarin, P356,700 for PETAL and Upgrading of Banana Chips Equipment in the same town, P382,922 for the Kahayag Development Program, Inc. (Kahayag).

C o c o Hu s k Decorticating, Twining and Weaving Villages in Misamis Occidental, P 9 9 8 , 0 0 0 by Tu d e l a Government Employees’ Multi-Purpose Cooperative (TUGEMPCO), and Upgrading of Banana Chips Equipment in Sinacaban, P242,901, for Kahayag.

(RCA/PIA10-Misamis Occidental)

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friday|february 21, 2014

MISAMIS ORIENTAL – Vice Governor JOEY G. PELAEZ donated books from Children International Philippines, Inc. (CIPI) to Salay National High School during the celebration of their 67th Founding Day last February 7, 2014. Present during the turn-over ceremony was Ms. Presentacion P. Alarba, the School Principal of the said school. The book donation is part of his advocacy of uplifting the competence of every student in the province by providing educational materials to various schools. Vice Governor Pelaez is the Chairman of Committee on Education of the Sangguniang Panlalawigan in the Province.

All East and West Bound Residents gets Exclusive Discounts from The SM Store The SM Store is giving away exclusive discounts to all residents from Brg y. L apasan to Bugo a n d B r g y. K a u s w a g a n to Iponan. Promo runs from February 21 to 28.

Simply present any proof of residence with the SM Advantage, SM Prestige, BDO Rewards or Mom card upon payment to avail 10% discount with a minimum P1,000 single receipt purchase on all regular priced items from any selling department inside The SM Store.

Not yet a member? Avail of the SM Advantage Card for only P150 from The SM Store Customer Service Counter, Cash or Charge C ounters, Sup er market Bills Payment C ounter, and all Savemore branches.

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All Cooperative Members in Region X gets Exclusive Discounts from The SM Store The SM Store is giving away exclusive discounts to all Cooperative members in Region X. Promo runs from February 21 to 28.

Simply present your Cooperative ID or Passbook with the SM Advantage, SM Prestige, BDO Rewards or Mom card upon payment to avail 10% discount with a minimum P1,000 single receipt purchase on all regular priced items from any selling department inside The SM Store.

Not yet a member? Avail of the SM Advantage Card for only P150 from The SM Store Customer Service Counter, Cash or Charge C ounters, Sup er market Bills Payment C ounter, and all Savemore branches.

Do not miss this exclusive offer. Keep shopping at The SM Store Cagayan de Oro.