BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 97
Market Indicators As of 6:12 pm jan. 30, 2015 (friday)
FOREX
PHISIX
US$1 = P44.08
7,689.91 points
3 cents
X X Briefly 72.61 points
Prices remain stable PROSPERIDAD, Agusan del Sur -- Prices of basic necessities and prime commodities in Agusan del Sur remain stable after Typhoon Seniang ravaged the province last December 29, 2014. This was observed by personnel of DTI-Agusan del Sur Provincial Office (DTI-ADS) who conducted price monitoring activities around the province early this month. The number of shoppers was apparently not affected as well. Despite damages to major roads leading to the province brought about by Tropical Storm Seniang and the illeffects of Typhoon Amang early this month, supply of goods including construction materials was observed to be at normal inventory levels. Some deliveries from Butuan City were slightly delayed but not entirely hampered while goods from Davao City were delivered unhindered.
Investment code DAVAO del Norte -- The Province of Davao del Norte is poised to sustain its lead as the top investment haven in the Davao region, with the formulation of the rules and regulations (IRR) implementing its Local Investment and Incentives Code (LIIC). The landmark legislation, which was the first harmonized LIIC in Region XI passed early last year, aims to attract more investors and spur business activities in the province. The Davao del Norte Investment Promotion Center (DNIPC) led the crafting of the IRR governing the LIIC, under the guidance of the Canadian government-funded Local Governance Support Program for Local Economic Development (LGSP-LED).
P15.00
Automated payment of water bills launched www.businessweekmindanao.com
Monday | February 2, 2015
Cagayan de Oro Water District, Development Bank of the Phils (DBP) ink pact
R
By MIKE BAÑOS, Editor-at-Large
ESIDENTS now have the option to pay their water bills through Automated Teller Machines (ATMs) of the Development Bank of the Philippines (DBP). DBP and the Cagayan d e O r o C i t y Wa t e r District (COWD) signed a memorandum of agreement 29 Januar y 2015 w hich
allows concessionaires to remit their payments using the DBP ATM Visa Debit C ard through 377 DBP ATMs nationwide.
Mr. Buenaventura said the MOA is the first ever that DBP would be having with a water district for the Bills Payment Facility via DBP’s electronic channels, initially with the Point of Sale (POS) terminals, now the ATM machine and eventually, online via the internet. payment/PAGE 7
AUTOMATED WATER BILLS PAYMENT. Pilot transaction at Development Bank of the Philippines-Cagayan de Oro main office automated teller machine (ATM) for Cagayan de Oro Water District concessionaire Gwen Batar as VP Gerald Crisologo, Head of the DBP Cards & ATM Department looks on. photo by mike baños , npn
Alsons’ 210-MW coal plant on track for full operations THE Alcantara-led Alsons Consolidated Resources, Inc. (ACR) on Friday said its 210-megawatt coal-fired power plant that will provide electricity to key areas of Mindanao is on track for
commercial operations. In a press statement, the company said its subsidiary Sarangani Energy Corp. (SEC) is nearing completion of the two 105-MW units coal/PAGE 7
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P15-B DAVAO PARK DISTRICT. Top executives of Megaworld Corporation and Suntrust Properties Incorporated led the groundbreaking ceremony Thursday of the P15-billion Davao Park District – envisioned to be Mindanao’s new central business district. Suntrust will develop One Lakeshore Drive, the first residential condominium in the new township project which is already nearly sold out just two months since its launching. photo by genevieve cantor
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RTIPC-X attends national confab for collective bargaining policy reforms T WO of t he B o ard of Directors representing the Regional Tripartite Industrial Peace Council-X (RTIPC-X) at t e n d e d t h e n at i o n a l consultation-workshop on policy reforms on collective bargaining on January 28-29, 2015 at One Tagaytay Hotel, Tagaytay City. To g e t h e r w i t h t h e Department of Labor and Employment-X (DOLE-X) re g i on a l d i re c tor c u m RTIPC-X chairman, Raymundo G. Agravante, vice-chairman for Labor Rolen L. Rocha of Del Monte Phils., Inc. and board of
director for management, Norwena I. Acharon from Synnex-Concentrix join among estimated 60 national participants for the said twoday activity. In cooperation with the International Labour Organization, the Bureau of Labor Relations of the DOLE central office conducted a follow-through consultationworkshop for a national policy on collective bargaining. The activity generated several policy reform measures a n d r e c o m m e n d at i o n s and reiterates exist ing policy options, to include:
organizing b e yond t he confines of the workplaces through workers’ associations for “mutual aid protection,” “multi-employer bargaining,” and industry self-regulation through the formulation of voluntary codes of good practices or industry-based framework agreements or collective bargaining. To further refine and validate the policy proposals raised during the June 2014 forum, key stakeholders, including the RTIPCs were consulted for a more indepth and objective analysis of existing data and policy
environment with the aims of providing trade union and collective bargaining situation in the Philippines, taking recent initiatives to promote fundamental rights; refine policy proposals through validation; and identify problems or graps in existing rules, guidelines and policies taking into account the present situations and practices. Among the topics for discussion included: Trade Unionism and collective bargaining in the Philippines and Presentation of highlights of the National Consultative
City government, NHA to start P24M housing project in Gingoog GINGOOG City -- All set for the city government of Gingoog, in partnership with the National Housing Au t h o r i t y ( N HA ) , f o r another P24 million worth of socialized housing project that will build 198 units in Baybay area of barangay Lunao. City mayor Marie
Guingona underscored it is a fundamental right of every Gingoognon to possess a dwelling. T hus , s he s ai d t h i s administration has been p er for ming its b est in scouting funds to materialize the plight of the landless constituents. Meanwhile, mayor
Guingona expressed her gratitude to NHA through atty. Chito Cruz, general manager, and engr. Judy Fernandez, project manager during the release of the initial amount of P1.8 million handed over to the city’s chief through engr. Fe Ancheta, District 1 manager, along with Engr. Maria Fe CruzPantanosas, super vising engineer. This partially released amount will ser ve as mobilization fund to fuel for this multi-million project which has two phases and homely models with a duplextype building. NHA shoulders funding for the construction while this city shares for site development, said Engr. Pantanosas.
With regards to the scheme, engr. Ancheta said that under the memorandum o f a g r e e m e n t ( M OA ) , beneficiaries will pay their m ont h l y o b l i g at i on a s financial recovery of this project. Their repayments will be facilitated by the local government unit (LGU) as the collecting arm in which its recovery will then be used to fund another housing project. For the 1st and 4th class cities, NHA has stipulated for a 50% recovery of the downloaded amount, said Ancheta. Being the overseer of this housing, city planning coordinator Ancio Felisan l au d e d s u c h e xe c ut i v e housing/PAGE 7
Forum. The RTIPC-X officers are expected to re-echo the activity during one of the
assemblies to be conducted on the 1st quarter of 2015. (Glenford C. Labial, LEO III, DOLE-X)
K to 12: Its run in bridging the gap in Education By ANGELITO U. FELISILDA, Principal II City Central School
The K to 12 Basic Education System is a system made to meet educational needs of this era. The Philippine Government is always in belief that education could be a central strategy to improve the lives of Filipino people, contributing to the rise of the economy. Fu r t he r, a change of count r y’s e ducat iona l system will enhance the learning of every Juan dela Cruz, which will be his tool to be successful. This is the main reason why current administration is standing firm in changing the old system and in implementing the K to 12 Basic Education System. K to 12 Basic Education System, now on its fourth year run, is pushing for an improved and high quality of education for Filipino children. It is a 12-year program believed to provide enough period to train students different knowledge and skills that
are useful in achieving their future endeavours. E a r l y b e f ore K t o 12 implementation, Philippines is the last in Asia and one of the three c ou nt r i e s w or l d w i d e , other than Angola and Djibouti, having ten-year pre-university cycle. This ten-year of education b efore having college education is composed of six years and four years in elementary and secondary education, respectively. K to 12, however, covers kindergarten plus twelve years of basic education, composing of six years for elementary education, four years of Junior High School, and two years of Senior High School. Moreover, one purpose of t he prog ram is to address the necessity of decreasing the number of out-of-school youths and unemployed individuals. K to 12 has Technical and Vocational components that introduce short-courses to students which are useful in their employment after graduation. In K to 12 as well, a student normally g r a du at e s i n a g e 1 8 , equipped and old enough to enter workforce. The success in education sector is a big leap for the country in its main goal to be a country at par and as competitive as the others. K to 12 is one step. The next challenge is to make this implementation productive and goal-getter as what it is created for.
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AirAsia Phils brings back Cebu-Kota Kinabalu flights reviving its Manila-Davao flights starting March 27. AirAsia Philippines last December bagged Senate approval of its acquisition of Zest Airways. This follows a similar consent given by the House in February last year. Under Republic Act No. 9183, any change in a carrier’s ownership has to be approved by Congress. Malaysia’s AirAsia Group owns 40 percent of AirAsia Philippines, while Marianne Hontiveros, Michael Romero, Antonio Cojuangco and
THE Philippine unit of Southeast Asia’s largest budget carrier will revive direct flights between Cebu and Kota Kinabalu. “Part of our commitment is to build connectivity outside Metro Manila. We picked Cebu because it’s bustling with activities and the traffic from Southern Phi lippines is growing rapidly,” Joy Cañeba , AirAsia Philippines’ chief executive officer said. “We’re thrilled to re-open Cebu-Kota Kinabalu route
to provide the much needed connectivity at affordable fares for Cebuanos and overseas Filipino workers,” she said. AirAsia also flies to Kota Kinabalu from Manila’s Ninoy Aquino International Airport every Wednesday, Friday and Sunday. The airline is offering promotional seats for as low as P699 one-way until February 8 for travel between March 27, 2015 and March 26, 2016. AirAsia Philippines is also
Del Monte sets final price for stock rights offer
More cars to roll off assembly line at Mitsubishi’s newly inaugurated plant
DEL MONTE Pacific Ltd. (DMPL) has priced its stock rights issue at a discount, allowing it to raise as much as $154.4 million (P6.8 billion) in the Philippines and in Singapore, the dual-listed fruit canner said on Friday. In a disclosure to the Philippine Stock Exchange (PSE), the listed fruit canner said it will issue the rights shares in the Philippines at P10.60 per share, a 31.3% discount to the closing price Del monte/PAGE 7
MITSUBISHI Motors Philippines Corp. (MMPC) last week inaugurated its factory that once was Ford’s and from whose assembly line new models will soon roll off, as the Japanese automaker wants to boost sales by 24% and output by up to 6% this year. The manufacturing plant in Sta. Rosa, Laguna -- which the Japanese automaker bought from Ford Group Philippines -- has the capacity to build 50,000 vehicles a year, versus the annual 30,000 units Mitsubishi had been assembling at its plant in
Cainta, Rizal since 1964. The Laguna plant is bigger, sitting on a 21.4-hectare property within the Greenfield Automotive Park, though not entirely dwarfing the 18-hectare Cainta plant. But being within a special economic zone, MMPC enjoys perks -- from tax holidays good for up to eight years, to duty-free imports, to exemption from wharfage dues, and zero-rated value added tax -- that should encourage it to ramp up production. MMPC, t he no. 2 automaker in the country
Alfredo Yao each own 15 percent. AirAsia Zest and AirAsia Philippines operate a combined f leet of 18 aircraft servicing domestic destinations such as Kalibo (Boracay), Puerto Princesa ( Pa l a w a n ) , Ta g b i l a r a n (Bohol), Cebu and Tacloban. They also fly to China and Korea.
in terms of sales after Toyota Motor Corp., builds the Adventure and L300 models locally. Japan’s Mitsubishi Motors Corp. Chairman of the Board and Chief Operating Officer, Osamu Masuko, said Mirage models could also come off the Laguna plant’s production line by next year. “Pro duc t ion w i l l b e increased by adding the B-segment compact passenger vehicles, Mirage and Mirage G4 from April 2016,” Mr. Masuko said in his speech at the ceremony in Laguna. Mitsubishi/PAGE 7
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Gender Mainstreaming and Enhancement Activity By Emily M. Gasang Master Teacher 1 Manticao Central School
The Gender and D e v e l o p m e nt ( G A D ) paradigm is translated from theory to practice through the Gender Mainstreaming (GM) strategy. It is the process of assessing the implications for women and men of any planned action, including leg islat ion, polices or programmes, in all areas and at all levels. It is a strategy for making women’s as well as men’s concerns and policies and programmes in all political, economical and societal spheres so that women and men benefit equally. Last December 19, 2014, a seminar on “Gender Mainstreaming and Enhancement Activity” with a Theme: “End VAW Now! It’s Our Duty” was held at Maria Christina Hotel, Iligan City. The said
seminar was participated by all the teachers and administrators in the District of Manticao. At exactly 8:30 A.M., the seminar proper started. The first discussant was the HS Principal I, Mr. Calixto Pabualan. He talked about Gender and Development (GAD) focuses on the principal that development is for all. Mrs. Erna C. Oco, ES Principal II, discussed on Gender Justice. Awarding ceremony was followed giving of plaques and certificates of recognition to the designing teachers for their exemplary efforts extended to the District of Manticao and also to the Retirees. The program was ended with joy and smiles from the Mantico District Teachers.
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How to Right Wrongs
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h i n k a m i nute… E dw i n T homa s w a s one of t he g re ate st a c tors i n t he 1 8 0 0 ’s . He b e c ame worl d f amou s for h is a c t i ng p e r for m anc e s i n Sh a ke sp e are’s pl ay s . E dw i n’s t wo brot he rs , Joh n and Ju n ius , we re a ls o a c tors , but t he y we re not a s t a l e nte d a s E dw i n . T he n one n i g ht , a l mo st l i ke a Sh a ke sp e are an pl ay, t r age dy h it t he i r w hol e f am i ly. T he brot he r, Joh n Wi l ke s B o ot h , shot and k i l l e d t he Ame r i c an Pre s i d e nt , Abr a ham L i nc ol n , w h i l e L i nc ol n w a s i n a t he at re w atch i ng a pl ay. A f te r t h at n i g ht E dw i n T homa s B o ot h’s re put at i on w a s g re at ly hu r t . In f a c t , shor t ly af te r h is brot he r k i l l e d Pre s i d e nt L i nc ol n , E dw i n a c tu a l ly qu it a c t i ng and e nd e d h i s ve r y su c c e ss f u l c are e r. Many ye ars l ate r E dw i n t r i e d to re tu r n to a c t i ng for a t i me, but he w a s ne ve r t he s ame b e c au s e he w a s f i l l e d w it h te r r ibl e shame and g u i lt f rom h i s brot he r mu rd e r i ng t he Pre s i d e nt . O ne n i g ht , E dw i n w a s ge tt i ng on a t r ai n w he n it su d d e n ly
THINK
A Minute
By Jhan Tiafau Hurst
move d and j olte d for w ard. A you ng m an ne x t to h i m sl ipp e d and fel l d ow n onto t he t r a ck by t he mov i ng t r ai n . Ve r y qu i ck ly, E dw i n r i ske d h i s ow n l i fe to re a ch d ow n and pu l l t he m an b a ck up to s afe t y. A fe w d ay s l ate r E dw i n re c e ive d a l e tte r of t h an k s f rom t he m an w ho s e l i fe he h a d s ave d. T he m an h a d re c o g n i z e d E dw i n a s t he f amou s a c tor and w ante d to t h an k h i m ag ai n i n a l e tte r. Am a z i ng ly, t h at you ng m an w ho s e l i fe E dw i n h a d s ave d w a s R ob e r t To d d L i nc ol n , t he s on of t he m an E dw i n’s brot he r h a d k i l l e d. S o w h i l e one brot he r h a d k i l l e d t he Pre s i d e nt , t he ot he r brot he r h a d s ave d t he Pre s i d e nt’s s on . T h i n k a Mi nute…
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Are You In A Front Position?
A
re y o u a g u i d e , a commander or a conductor? Are you a leader, who knows how to play the first card in the round? Are you the fore-most horse in a team? Do you know how to direct, to persuade or to precede? I found a ver y nice quotation shared by Dr. John C. Maxwell, the leading authority on leadership, who says, “A leader is one who knows the way, goes the way and shows the way!” “Nearly all men can withstand adversity. If you truly want to test a man’s character, give him power”, stressed already Abraham Lincoln. Character is what you are doing in the dark. By the way, nowadays, I wouldn’t only mention “men” alone when it comes to leadership. There are innumerable women
holding their own. Remember and look around: in the past and at present one can observe someone at any corner offering us to lead our way. Politicians compete for our vote of confidence. Athletes and entertainers show us their pictures of success. A lot of different religious leaders pledge, promise and bind in flock gathering. Well, what are some of the traits that a great leader must have or develop character? Is character really enough? How about integrity? Are you, my dear reader, a leader? Is what you are saying AND DOING, the same? Are your followers wholeheartedly convinced of your integrity? Albert Einstein, one of my favourite idols had said, “Whoever is careless with the truth in small matters cannot be trusted with the
important matters!” L e a d e rs i n p ol it i c s , leaders in clergy, leaders in business - many are lacking this specific trait, because, after all, what they say is not what they do. We need leaders with character, integrity, disclipine and the ability to influence others in a positive way. A leader must be able to motivate his or her people around, rather than manipulate them or run away in times of difficult decisions... ! Albert Einstein claimed that he had no special abilities, only persistence. But that was enough to develop the General Relativity Theory. I learned from my Philippine mentor, the late Monsignor Professor Dr. Hermogenes E. Bacareza already during the 1980’s: “It’s important to become your own best friend. Be your own coach.
H ave M y Say
By Klaus Doring
Take to your inner self as if if you were talking to another person you care deeply about. And, pray!” +++ Comments, suggestions, questions? Email me: doringklaus@gmail.com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines.blogspot.com or www.klausdoringsclassicalmusic.blogspot.com.
Battle that changed the course of history (4)
I
n the previous article, we wrote about the advance of Allied troops as they moved towards their main target: Manila. The troops landed via Lingayen on January 9, 1945. As they advanced, they retook Clark Air Base on Januar y 23 . A special group of US Army Rangers and Filipino guerrillas (led by Captain Juan Pajota and Eduardo Joson) embarked on a lightning raid to free around 500 American POWs from Cabanatuan prison camp on January 30. Foreseeing the attack on Manila, President Jose P. Laurel made a futile attempt early in December 1944 to have Manila declared an Open City. “General Yamashita made a vague promise and even drafted plans for that possibility, then flew to Tokyo. On his return, he moved his headquarters to Baguio.” Yamashita would later c l a i m d u r i n g t h e Wa r Tr i a l , t h at h e ord e re d troops stationed in Manila to “evacuate the city and destroy all bridges and other vital installations as soon as any large American forces made their appearance.” He claimed, however, that his order was disobeyed. T h re e ye ars e ar l i e r, McArthur declared Manila as Open City before he withdrew to Bataan. As a result. Japanese troops entered the city unopposed. McArthur’s decision spared Manila from destruction. This was not to be the case in 1945.
Tomorrow, February 3, marks the 70th anniversary of the month-long Battle of Manila. The liberation of Manila was the first urban battle fought by Allied troops since the start of war in the Pacific. All the previous battles were done either at sea, or in open terrain or in the hills. A US veteran described the Battle of Manila as a different kind of warfare marked by savage fighting “street by street, building by building and floor by floor”. Subjected to continuous pounding and anticipating certain death, desperate Japanese soldiers vented their ire on defenseless civilians. The systematic torture, murder, and rape of civilians, as well as the torching of homes, resulted in deaths estimated at over 1 0 0 , 0 0 0 . T h e c iv i l i an casualties almost equalled the civilian death toll during the bombing of Hiroshima. Various historical accounts refer to this dark chapter of Manila as the Rape of Manila, or t he Sack of Manila or the Manila Massacre. The Allies converged on Manila from two directions. Troops consisted of those who landed via Lingayen and those who landed later from south of Manila. On January 31, 1945, the allies made an unopposed amphibious l anding in Nasugbu. On February 4, 1945, US paratroopers parachuted down Tagaytay Ridge. The two groups
soon linked up and as they advanced southwards towards Manila they were joined by Hunters ROTC guerrillas under Lt. Col. Emmanuel de Ocampo. (For easier recall, we will refer to them as Southern Force). The 16,000 strong Japanese group who “disob eyed” Yamashita, were led by Rear Admiral Sanji Iwabuchi. At t he start of the war, Iwabuchi was given command of the battleship Kirishma. Kirishima was sunk in the battle off Guadalcanal in late 1942. Iwabuchi found himself ignominously kicked upstairs to a desk job in Tokyo. But due to the e x i ge n c i e s of t h e w ar, Iwabuchi found himself back in the battlefront, this time commanding the Japanese naval troops in Manila. Yamashita did not want to be trapped in Manila and ordered General Yukoyama Shizuo, who had over-all command in Manila, to withdraw. Iwabuchi saw, however, an opportunity to redeem himself from the shame of the loss of his ship and decided to dig in. Iwabuchi divided his forces into two: one group to face the Allies coming in from the north, another group to face the Allies attacking from the south. On the eve of battle, Iwabuchi addressed his men: “We are very glad and grateful for the opportunity to serve our country in this epic battle. Now, with what
SPEAKING
O ut
By Ignacio Bunye
strength remains, we will daringly engage the enemy. Banzai to the Emperor! We are determined to fight to the last man.” By Februar y 1, 1945, Allied troops who came from Lingayen were welcomed by a cheering throng as they arrived at the Bonifacio Monument and as they advanced along Rizal Avenue. Two d ay s l ate r, on Febr u ar y 3 , U S t ro op s …”pushed into the northern outskirts of Manila and seized a vital bridge across the Tullahan River, which separated them from the city proper, and quickly captured Malacanan Palace.” On the same day, US troops, guided by Filipino resistance fighters (among them Captain Manuel Colayco), stormed the gates of the University of Santo Tomas Internment Camp in an effort to free more than 4,000 civilian internees. The Battle of Manila had begun. Note: You may email us at totingbunye2000@gmail. com.
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Banks to get growth boost from ‘strong’ PHL economy THE PHILIPPINE banking industry could grow by more than a tenth this year as the sector would benefit from favorable economic conditions in 2015, Maybank ATR Kim Eng said in a research note. In it s re p or t t it l e d “Philippines Banks: on the path to financial inclusion,” Maybank kept its “neutral” outlook on the sector for the next 12 months. “The Philippine banking sector is expected to benefit from the country’s st rong macro e conom i c growth that will further strengthen credit demand amid a benign outlook on inflation and interest rates, abundant liquidity, as well as continued inflows from overseas remittances and the BPO (business process outsourcing) industr y,” Maybank said. The bank said the
industry’s net profit could grow by 14% this year on the back of lower credit cost assumptions compared to its 3% assumption for last year. Operating profit growth could pick up to 11.4% from 11% last year, with an expected 18% expansion in loans and an 11-basis-point (bp) increase in net interest margin (NIM). “With domestic demand expected to remain robust as consumers and businesses benefit from falling fuel prices, more government spending and sustained investment by the private sector, we estimate 2015 bank lending to expand 18%,” the report said. “This will be supported by a benign outlook on inflation and interest rates, as well as continued inflows from overseas remittances and the BPO industry,” it added. NIM expansion this year
could reach 11 bps, with a 15-bp rise in interest-earning assets and a 4-bp growth in funding costs. The Bangko Sentral ng Pilipinas’ (BSP) advocacy of financial inclusion, Maybank said, would also support the sector’s expansion in the long term. “Acce ss to f inanci a l services is seen as a way of promoting growth and reducing poverty. We believe recent regulatory reforms to increase capital, improve credit risk management and early implementation of stricter Basel III requirements set the ground for the move towards financial inclusion,” Maybank said. “And, as the countr y moves towards this goal, we believe it will support long-term growth of the banking system,” it added. May bank noted that several local banks have
already recognized the growth potential in expanding to unbanked areas. “Over the long term, the big banks are likely to grow faster in these unbanked areas. They have the structural and manpower advantages as well as financial strength to slowly reach out and educate customers with their products and services,” Maybank said. Maybank likewise recommended that investors buy four key stocks in the banking sector: BDO Unibank, Inc., Security Bank Corp., Rizal Commercial Banking Corp. and East West Banking Corp. Five other banks were given a “hold” recommendation: Bank of the Philippine Islands (BPI), China Banking Corp., Philippine Business Bank (PBB), Philippine National Bank (PNB) and Union Bank of the Philippines.
City Price Coordinating Council Chair Atty Egay Uy witnesses the crushing of uncertified Christmas lights last Jan. 30 at the City Engineer’s Office Compound in Kauswagan. P160,000 worth of uncertified Christmas lights were seized last Oct. 30, 2014 by the Dept. of Trade and Industry Misamis Oriental from two business establishments who were fined P52,500 for violating DTI Dept Order 2: 2007 photo by mike baños , npn
ample buffer against financial difficulties, with its capital adequac y ratio of 14.2 percent and Tier 1 ratio of 13.3 percent both above the minimum required by the Bangko Sentral ng Pilipinas (BSP). This after BPI raised P25 billion from a stock rights issue a year ago. “We also announced a strategic par tnership with Global Payments, as we look to better ser ve our merchant clients and enhance the experience of BPI cardholders. We have mobilized our firm to focus more sharply on customers— and this bodes very well for our future financial performance,” Consing said. Despite the strong fourth quarter results, full-year earnings of P18 billion were 4 percent lower year-on-year, lending/PAGE 7
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BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637
METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924
BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796
METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731
BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405
METRO BANK- GAISANO 8561720
BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN
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
EastWest firms up insurance venture, plans sale of new shares to stockholders E A S T We s t B a n k i n g Corporation is venturing into the non-life insurance business, and plans to raise capital from the sale of shares to existing stockholders. In a disclosure to the Philippine Stock Exchange, EastWest said its board in a meeting yesterday approved the creation of a subsidiary for non-life products.
The Gotianun-owned lender earlier expressed interest in venturing into bancassurance in line with its consumer focus, but up until the latest announcement had yet to firm up its plan. At end-September last year, at least 6 out of every 10 pesos of EastWest’s revenue came from its consumer eastwest/PAGE 7
5
OROBANKERS DIRECTORIES
CM Recto Ave. Lapasan, Cdoc, 8563991/727731
Lending business triggers surge in BPI’s 4Q revenue LOAN growth pushed Bank of the Philippine Islands’ (BPI) profit by nearly threequarters in the final three months of 2014. In a statement, the Ayalaled lender said its earned P5.2 billion in the fourth quarter of last year, up 72 percent from the P3 billion in the same three months of 2013. With the improvement, BPI’s board approved a cash dividend of P0.90 a share. “BPI enters 2015 with good momentum,” said BPI president Cezar Consing. “In 2014, we used the capital that we raised to invest for the future and meet robust loan demand. At the end of last year, we inked a [joint venture] with Century Tokyo Leasing, to broaden our suite of products for corporate clients,” he said. At end-2014, BPI had
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CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819
PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 PLANTERS DEVELOPMENT BANK
Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723
PNB- LKK MALL NORTH CONCOURSE
LKK Mall N.Concourse Cdoc 8574149/8575682
PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.
#58 Tiano FernandezSt.CDO 727215/ 8563552 *805
SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625
EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081
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EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331
STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168
ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999 METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415
UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO
Capistrano Corner CruzTaal St. CDO 8524099/722695
UCPB BANK SAVINGS- OPOL Gf forever Books Bldg.Bulua National CDO 754519/8588063 UNION BANK Lapasan Cm.Recto Cdoc | 8566847/8563805 WEALTHBANK Velez Gomez St. Cdoc | 8568942/722174 1ST VALLEY BANK Vamenta Blvd. CornerLirio St. Carmen, Cdoc 8501871/ 8584146 OROBANKERS CLUB Inc. Pnb Carmen | 09151850242
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SP COMMENDATION-Misamis Oriental VICE GOVERNOR JOEY G. PELAEZ (4th from left) and Members of the Sangguniang Panlalawigan (SP) presented Certificates of Commendation to SPO1 Asanulla Julhasani and PO3 Vicente Balaman (6th-7th from left) representing the team composed of 25 officers of the Provincial Public Safety Company, 2nd Maneuver Platoon of the Philippine National Police (PNP) headed by P/Insp. Gino Hadrian M. Cabaral that led to the successful retrieval of the carnapped Toyota Grandia in Libertad, Misamis Oriental. The commendation was awarded during the 4th Regular Session of the SP last 26 January 2015 pursuant to Sangguniang Panlalawigan Resolution No. 281-2014. (From L to R, Provincial Board Members Heckert V. Emano, Nancy S. Madjos, Virgelia F. Dumadag, Jabi I. Bernaldez, Donato N. Chan, Benedict P. Lagbas, Emmanuel S. Mugot, Mercy Grace J. Acain, Boris H. Actub, Mario K. Emano.)
Rice mill project to benefit 500 farmers in Sto. Tomas DAVAO del Norte – Some 500 farmers in the municipality of Sto. Tomas, this province, benefitted from the Multi-Pass Rice Mill project with mechanical dryer of the Saint Michael Multi-purpose Cooperative (SAMIMUPCO). The P7.6-million project located in Barangay Kinamayan was made possible through the Community Fund for Agricultural Development (CFAD) component of the Mindanao Rural Development Program (MRDP). The cooperative put up a counterpart funding of P4.6 million for the project, which also serves farmers in the barangays of Esperanza, Talomo and other neighboring villages. Gov. Rodolfo del Rosario led the inauguration of the project, assisted by Mayor Benigno Andamon and Miguela Ebquila, Deputy Regional Program Coordinator of the MRDP, along with other local officials. The governor lauded the cooperative for raising enough counterpart to complete the project. He encouraged other cooperatives to follow the example of SAMIMUPCO, which capitalized on available government funding to enhance
the profitability of their business ventures. SAMIMUPCO Chair Rene Bongabong revealed that aside from increasing the income of the cooperative by over 10 percent, the project also allowed them to extend milling services to other rice traders in the town. It has also benefitted the both the traders and consumers by reducing the transportation cost of milled rice. The project has a capacity of 20 bags per hour at 50 kilos per bag, with the mechanical dryer also churning a capacity of 6 tons per batch using biomass fuel as its heating unit. Del Rosario further asked the local government units to actively involve and take advantage of huge funding now offered by the Philippine Rural Development Project (PRDP), which is an upscale version of the MRDP. The new program is a 6-year national government platform for an inclusive, value-chain oriented, and climate resilient agriculture and fisheries sector. Like the MRDP, the PRDP is also jointly funded by the World Bank, the national government and the local government units. (Noel Baguio-PIO DN)
DavSur provincial government continues agri-fishery program DAVAO City – The provincial government of Davao del Sur will continue this year to give focus on improving its agriculture and fishery program to upgrade the living of the farmers and fisherfolks in the province. Marivic Hubac, executive a s s i s t a nt t o G ov e r n o r Claude Bautista, said the provincial government is set to specifically continue this year the coastal development program where fisherfolks are given the opportunity to own motorized banca (small fishing boats) through a special loan. Hubac said the Banca L o a n P ro g r a m s t a r t e d implementation late 2013 with a total of 160 fisherfolks from Digos City, and municipalities of Sta. Cruz and Sta. Maria already benefiting from the project. This year, she bared, the local government is preparing to distribute 100 bancas to the qualified beneficiaries in Malita and 150 fisherfolks in Don Marcelino, both of Davao Occidental province which is
still under the administration of the governor of Davao del Sur. The motorized banca loan amounting to P30,000 per unit is giving the beneficiaries the chance of paying at least P50 a day, and to have it fully paid in less than two years. G o v. B a u t i s t a h a s announced last year that not less than 2,500 fishing boats will be distributed to other coastal areas in the province until 2016. For the farmers, Hubac said the provincial government is bent on pursuing projects centered on de veloping the rice production in the province. She cited the irrigation system support through the Office of the Provincial Agriculturist to Magsaysay and Bansalan areas. The provision of farm inputs, livelihood assistance and trainings have also been lined up to be undertaken this year. Hubac said Department of Agriculture will also provide trainings to help farmers
assure yielding good quality farm products. She said that they have started organizing farmers in the upland areas to avail of the Plant Now Pay Later Program which is focused on rubber production. A rubber nursery will be put up in selected barangays for this project, she added. Another financial assistance program will involve the wives of the fisherfolks and farmers as beneficiaries. Hubac said an assistance of P5,000 will each be given
to qualified fisherfolk wives who are fish vendors, and P3,000 each to farmers’ wives who are retailing vegetables. “In this way, the wives are encouraged to become small entrepreneurs,” she stated. She said the local government has been v i g oro u s l y p o u r i n g i n various livelihood projects for residents in the coastal and rural areas because “the governor wants to ensure that his constituents could meet their daily needs.” (PIA-11/ Carina L. Cayon)
SurSur coastal LGUs recipient of community fish landing centers TANDAG City – Seven coastal areas in Surigao del Sur are among the 252 municipalities/ cities nationwide prioritized for the establishment of Community Fish Landing Centers “as provided for in the 2015 General Appropriations Act,” according to the Bureau of Fisheries and Aquatic
Resources (BFAR) Caraga Regional Office. Dr. Nerio Casil, BFAR Caraga regional director, informed Governor Johnny Pimentel in a letter dated January 22, 2015 that the municipalities of Cortes, Cantilan, Marihatag and San coastal/PAGE 7
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Payment... from page 1
The MOA is the first of its kind throughout the country. Signatories for DBP were Gil A. Buenaventura, president & CEO and Anthony T. Robles, executive vice president, Head, Branch Banking Sector, while COWD was represented by Atty. Emmanuel Gaabucayan, chairman of the board and Rachel M. Beja, general manager. “We at DBP are honored with this opportunity to serve as the servicing bank for your most important transaction, that of your customers paying their bills, because by doing this, we help you and other water districts and electric cooperatives not just in ensuring a more efficient means of facilitating payments and therefore, in our revenue generation, but most importantly, we provide the convenience and ease for your customers.” Mr. Buenaventura said it’s ironic how consumers in Metro Manila already have a surfeit of choices to pay their water and electric utility bills while those in the regions who are served by electric cooperatives and water districts still pay their bills over the counter with all its inherent issues. “We have taken it as our mission to streamline and make more efficient your bills payments,” the bank executive said. “My hope is that more water districts will follow this trailblazing path by COWD, and allow us to use your name as a testimonial to other water districts that we serve, so they can follow your example.” At present, COWD’s approximately 84,500 concessionaires can pay their bills through 4 COWD centers in Corrales Avenue, Kauswagan, Macasandig and Tin-ao, or via 13 accredited collection banks. Those paying in the COWD head office in Corrales Avenue have the added option of paying through 4 POS terminals which accept payments via ATM cards and Visa credit cards. Similar POS terminals will be installed in the 3 other COWD payment centers within the year. With the signing of the MOA, COWD water bills can now be paid using the DBP ATM Visa Debit Card through 8 DBP ATMs with 2 more scheduled for activation this February, including one at COWD’s main office in Corrales Avenue. Three of the ATMs are located in the DBP main branch in Corrales Avenue, one each in DBP Capistrano branch and off-site at the Northern Mindanao Medical Center (NMMC), Pelaez Sports Center, one each in the arrival and departure passenger lounges of the Laguindingan Airport at Laguindingan, Misamis Oriental. Mr. Robles said DBP has issued some 25,000 DBP ATM Visa Debit Cards in Cagayan de Oro whose owners can now avail of the DBP Bills Payment Facility to pay their water bills with COWD. Following the launching program, a pilot transaction was conducted in the ATM machine of DBP Cagayan de Oro main branch led by Gerald S. Crisologo, DBP vice president and head, Cards &
ATM Department and Engr. Bienvenido Batar, Jr., COWD assistant general manager.
Coal... from page 1
power plant, which is a 75-25 joint venture between ACR and Toyota Tsusho Corp. ACR said the first 105-MW unit of the coal project is already 89% complete and will begin commissioning within the first half of the year. “Commercial operations for the SEC plant’s first 105 MW section are set to commence on October of 2015, with the plant expected to reach its full 210 MW capacity within the fourth quarter next year,” ACR said in its statement. ACR said the plant’s initial 105 MW output will provide electricity for around 3.47 million residents in Sarangani, General Santos City, Iligan City; as well as parts of South Cotabato, Compostela Valley, Agusan del Norte, Agusan del Sur and Davao del Norte. The remaining capacity, on the other hand, will serve 3.8 million residents in Cotabato City, South Cotabato, and Zamboanga del Norte. This coal-fired power plant will be one of the first baseload power plants that are due for initial operations this year, ACR said, adding that the project will help provide a sustainable solution to Mindanao’s power problems. “At $570 million, the SEC plant is the single largest investment in the Province of Sarangani and the entire Region 12,” ACR claimed. Apart from the SEC coal plant, ACR -- through San Ramon Power, Inc. -- will also develop a 105-MW coal plant in Zamboanga City. Construction of the project is scheduled to commence in the second half of this year, while commercial operations are due in 2018. ACR is also embarking on the development of a 17-MW run-of-rive hydroelectric plant at the Siguil River in Maasim, Sarangani. The hydro plant -- which will serve as ACR’s first foray into hydropower development -- will also be operational by 2018. ACR, through Mapalad Power Corp., currently owns a 103-MW diesel plant in Iligan City. The company also operates a 100-MW diesel facility in Zamboanga City through Western Mindanao Power Corp. and a 55-MW diesel plant in Sarangani through Southern Philippines Power Corp. ACR, through its subsidiaries, is engaged in power generation, property development, mining and product distribution. The company’s consolidated net income fell 24% to P606.7 million at end-September but the company expects to end the year with at least 6% profit growth.
Housing... from page 2
agendum on socialized housing which gives opportunity to informal settlers living along seaside and danger zone.
Felisan thanked engr. Winston Idulsa, his staff and other coordinating offices for their invaluable contribution to this project. NHA has funded the breath-taking Villa Veronica in barangay San Juan for its site development worth P26 million. This time, another P24 million-project for the house construction in Baybay, Lunao. Our administration has to tie-up with other agencies for the house construction in Villa Veronica in which its site development was completed with the assistance by NHA, said mayor Guingona. She expressed her optimism for the settlers that these edifices afford them with comfort as they build responsible families and cooperative society. (Buboy Pabia, Gingoog city media bureau/EOR/PIA10-Misamis Oriental)
Del Monte... from page 3
of P15.44 on Jan. 29. Its Singapore rights issue was priced at S$0.325 per share, a discount of 20.6% to the “reference price” of P13.35 or $0.409 per share. The company is also listed on the Singapore Exchange (SGX) and it has defined “reference price” as the “theoretical exrights price calculated having regard to the gross proceeds to be raised and the volumeweighted average price of the Shares for trades done on the SGX-ST and the PSE on Price Fixing Date for a period of 5 market days prior to and including the date preceding the date of this announcement.” A revised timetable submitted to the PSE showed that the offer period for the rights issuance will run from Feb. 12 to March 2. DMPL said after deducting $4.5 million (198.4 million) in expenses, it will be left with net proceeds of $149.9 million (P6.6 billion). “All of the net proceeds will be applied towards the repayment of the bridging facility of up to $165 million from the Bank of the Philippine Islands that the company obtained to partially finance the acquisition of the consumer food business” of Del Monte Foods Corp.. DMPL -- which is not affiliated with other Del Monte companies worldwide -- holds the rights to the Del Monte brand in the Philippines, in the Indian subcontinent and in Myanmar. The fruit canner is controlled by the Campos family’s NutriAsia Pacific Ltd.
Mitsubishi... from page 3
“Along with launching of these new models we are also moving forward with steel panel parts manufacturing with a new stamping factory.” But that plan is dependent on the release of the automotive industry road map, Mr. Masuko, speaking through a translator, told reporters, Reuters reported. “We would like to invest in production facilities so we are waiting,” Mr. Masuko said. Auto assemblers in the country have been blaming the long-delayed release of the auto
industry road map -- which will detail strategies to strengthen production mainly by providing incentives to manufacturers -- as a deterrent to their expansion plans. The company’s overall production will likely reach 17,000 to 18,000 vehicles this year, said Mitsubishi Philippines President Hikosaburo Shibata. “We are just increasing based on market demand. Production last year is 17,000 units. This year, basically it will be a small increase,” Mr. Shibata told Reuters on Thursday. Output of 18,000 vehicles would represent a 6% rise. SALES TARGET In his speech, Mr. Shibata said “MMPC intends to sell 62,000 units this year.” In 2014, the Philippine unit of Mitsubishi sold 50,085 vehicles, which it said was a record for the company. This year’s car sales target meant a 24% increase from 2014’s tally. “Physically, Santa Rosa is more capable of assembling and handling a larger volume of vehicles which we will need in the future,” Mr. Shibata said in his speech. The Philippine automotive industry is expected to sell 310,000 vehicles this year, up from 269,000 last year, by Mr. Shibata’s reckoning. President Benigno S. C. Aquino III’s speech delivered during the Mitsubishi plant’s inauguration offered no clues as to where the automotive road map is headed. “Rest assured that, in all aspects, government will continue to do its part to stimulate the Philippine automotive industry,” Mr. Aquino said in his speech, adding that the government has continued to provide incentives in the form of income tax holidays, as well as reduced taxes and duties. -- reporting by Imee Charlee C. Delavin
also is better insured against probable losses, with loan loss reserves comprising 110 percent of NPLs.
EastWest... from page 5
lending business. EastWest is the most exposed among the country’s big banks to the consumer sector, with credit granted to consumers accounting for at least half of the lender’s total outstanding loan portfolio. As a result of the disproportionate share of consumer loans, EastWest had an above-industry average non-performing loan ratio upwards of 4 percent. According to 2014 estimates by Maybank ATR Kim Eng, EastWest likely had the highest NPL ratio among 10 listed banks. In the same disclosure, EastWest said its board also cleared a rights offering of common shares. The issue size, entitlement ratio, offer prices, record date and appointment of agents that will implement the issuance have yet to be finalized. EastWest however has secured parent firm Filinvest Development Corporation’s commitment to the additional share sale. EastWest on Friday closed at P26.50 a share, an 8.61 percent increase from yesterday’s P24.40 and off its 52-week low of P23.55. Maybank ATR Kim Eng rated EastWest a buy, and has set a target price of P31.80 for this year, or above its one-year high of P31.60. Maybank ATR Kim Eng attributes its bullishness on
7
EastWest to its exposure to the consumer sector, which defines the Philippines’ economic growth story. At end-September last year, EastWest’s capital adequacy ratio (CAR) and Tier 1 ratio were above the regulatory minimum, but was the lowest among the 10 listed banking stocks that Maybank ATR Kim Eng covers.
Coastal... from page 6
Agustin in the 1st District as well as the towns of Barobo, Hinatuan including Bislig City in the 2nd District are recipients. The BFAR chief likewise invited Gov. Pimentel on February 6, 2015 for the official program launch at Tanza Oasis Hotel in Tanza, Cavite. Casil pointed out that “The P2.85M Fish Landing Center will serve as the hub for landing and auction of fish caught by municipal/artisanal fishermen and as training center for fish processing and value-adding, conservation and protection of fisheries resources and other undertakings that would help improve the plight of fisherfolk families.” Moreover, he stated that “This important project for our municipal fisherfolk communities had been made possible through the support of your Congressional Representative to which we are very grateful.” Along with the activity is also the “launching of Boat Admeasurement Mobile Application and hosting the Awarding Ceremony of the Top 100 municipalities first to complete the municipal fisherfolk registration program or FishR,” Casil added.
Lending... from page 5
as trading gains were halved to P3.1 billion last year from P6.3 billion in 2013. BPI said lending to the corporate and retail segments drove growth, as loans climbed by more than a quarter yearon-year to P800 billion. Loan growth was financed by P1.176 trillion in deposits, which grew a slower 19 percent from 2013 levels. According to the bank, lowcost current account and savings account (CASA) deposits comprised 69 percent of its deposit liabiities, allowing net interest income to increase by a sixth to P34.8 billion. However, non-interest income -- which represents gains from fee-based and trading -- fell by 5 percent year-onyear to P21 billion in 2014, on the back of weak income from securities and foreign exchange trading. Excluding trading gains, non-interest income would have increased by 13 percent to P17.8 billion Even with strong loan growth, BPI however improved on asset quality, with its non-performing loan (NPL) ratio dropping to 1.51 percent last year from 1.74 percent in 2013. The lender
Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region Branch 16, Tangub City IN THE MATTER OF THE CORRECTION OF ENTRY IN THE CERTIFICATE OF LIVE BIRTH OF MEMAR GENOBIA SANDOVAL AS TO HER YEAR OF BIRTH FROM “1997” TO “1994”
SP. PROC: TC-2015-001
MEMAR GENOBIA SANDOVAL, Petitioner, -versusTHE CITY CIVIL REGISTRAR OF TANGUB CITY,
Respondent.
x-------------------------------------------------------/ NOTICE OF HEARING WHEREAS, after alleging certain facts in a verified petition filed on January 7, 2015 petitioner prayed that after notice, publication and hearing, an order be issued directing the Local Civil Registrar of Tangub City, to correct the erroneous entry in the Certificate of Live Birth, to wit: 1. The entry on Petitioner’s year of birth on her Certificate of Live Birth duly issued by the National Statistics Office which indicates “1997” should be changed and /or corrected to “1994” WHEREFORE, finding the petition to be in due form and substance, the hearing of the same is hereby set on March 20, 2015 at 8:30 o’clock in the morning, at the Session Hall of this Court at which date, time, and place, any person may appear and show cause why said petition should not be granted. The Sheriff of this Court is hereby ordered to post copies of this Notice in three (3) conspicuous public places, preferably in the Bulletin Board of this Court, the City Hall of Tangub City and the Barangay Hall of Taguite, Tangub City. Moreover, let a copy of this petition and notice be published once a week for three (3) consecutive weeks in a newspaper of general circulation in the province of Misamis Occidental, all at the expense of the petitioner, for the information and guidance of all concerned . Also , let a copy of this petition and notice be furnished the petitioner, the Office of the Solicitor General, and the City Civil Registrar of Tangub City. Any person having or claiming any interest under the entry whose correction is sought may, within fifteen (15) days from notice of this petition , or from the last date of publication of such notice, file his opposition thereto. WITNESS, the Honorable SYLVIA A. SINGIDAS-MACHACON. Presiding Judge, this 14th day of January 2015. BWM: Jan 26, Feb 2 & 9, 2015
(Sgd) ATTY. MARCELINO D. NATIVIDAD JR. Clerk of Court-VI
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Italpinas shares advanced selling techniques to XU BSREM students T
he 30 pioneering Real Estate Management students of Xavier University opportunely attended the high-impact seminar with distinguished real estate master, Jun Garing, at Primavera Residences last January 28, 2015. Spurred by the rise in the country’s real estate industry and the move towards building in alternative locations, Cagayan de Oro has recently seen a rise in the number of real estate developments. Condominium buildings are one of the most sought-after developments in the city which make it more attractive to people who have eyes set on property ownership and investment. “The rising real estate market in the country paves numerous opportunities for these students to soar high. Especially with their passion to learn and spirit to earn, I know these pioneering hopefuls will bring Cagayan de Oro to the top,” says Edgardo Palasan, XU BSREM professor. Master the Art of Selling Condominium
The seminar tackled the art of selling condominium units. It focused on dealing with real life successes and failures, rejections and breakthrough transactions, tapping the global market, and real world investment selling. “With the city’s evident economic growth, CdO has a huge market for these future entrepreneurs and I’m grateful that Italpinas wholeheartedly welcomed these students with the expertise of a highlyrespected veteran real estate trainer, Jun Garing,” says Palasan. Jun Garing authored the book, The Filipino Art of Breakthrough Selling which talked about the successes of Filipinos in terms of selling and marketing. He is also the founder and President of Salesman’s Centre, an institute of training and entrepreneurial development. Currently, he handles sales and training consultancy to business sectors especially in real estate, and manages several entrepreneurial firms.
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Food chain to employ 50 students under SPES Program
T
he food giant company in the world famous for its allbeef patties and the iconic golden arch logo partners again with the Department of Labor and Employment (DOLE) on the Special Program for the Employment of Students (SPES). Fifty (50) students will be given employment to five McDonald stores in the city located at LimKetKai Center, Puregold, McDonald Divisoria, and Centrio Mall. First batch of students will commence work on March 1 to June 30, 2015 and second batch will be deployed on July 1 to October 31, 2015. For 52 days, P15,912 will be disbursed to each beneficiaries at 40% and 60% sharing between DOLE and McDonalds. McDonalds will pay the amount in cash at P9,547.20. The remaining amount of P6,364.80 will be shouldered by DOLE through educational voucher
for the tuition and book fees. Along with the minimum pay of P306, free meals during working hours, uniform, and paid 20 minute break, and GSIS coverage will be provided by McDonalds, according to Britto Luis C. Alforque, operations consultant of McDonalds. Applicants will be sourced by Public Employment Service Office (PESO), Cagayan de Oro, starting January 12 to 30, 2015. Examination and interview will follow on February 7, 2015 by McDonalds managers. The launching of SPES will be formalized on February 22, 2015 with the signing of a Memorandum of Agreement (MOA) at the local government unit (LGU)-Cagayan de Oro. The signing will be joined by mayor Oscar S. Moreno, DOLE Region 10 director Raymundo G. Agravante, and McDonalds representatives.
VICTORS from Page B4... “Always believe in your story no matter what. Go out from your comfort zone, don’t be afraid to explore,” she said in combined Bisaya and English. “End of War” by Joeromer Bacus received the 2nd Best Short Film award, along with Best Art Direction, Best Cinematography, Best Editing, Best Director for Bacus, and for the second time, Best Actor for Rusty Quintana. (Quintana won Best Actor for his performance in “Ika-3 Putahi” (Recipe No. 3), also directed by Bacus.) The 3rd Best Short Film went to “Bagabag” by Adrian Rey Banaag Manapil in collaboration with Philippine Institute of Certified Public Accountants (PICPA) Region 10 chapter. Best Sound Scoring and Best Trailer also went to Manapi’s film. On the other hand, “Sangil” (Blame) by first-time filmmaker Christian Alan E.Toring from Mindanao State University – Iligan Institute of Technology (MSU-IIT) was chosen as the Best Student Short Film and won Best Cinematography. “Grasya” by Geffel Lou A. Rodrigora and Edmund Mabanag Telmo from XU landed 2nd Best Student Short Film, along with the awards for Best Art Direction, Audience Choice, and Best Director for Rodrigora and Telmo. The Best Actor and Best Actress went to the
The SPES program aims to help poor and deserving students pursue and ultimately finish school by encouraging employment to cover the school fees. In 2012, DOLE and Golden Arches Development Corporation, McDonald’s franchise holder inked a memorandum to partner in the implementation of SPES. This later rolled out to all branches nationwide including Cagayan de Oro with 80 beneficiaries. Now on its 75th years, McDonalds food chain will not only see smiles in every Filipino faces as its slogan goes “We love to see you smile”. Also as well, being loved by Filipino students not only for its good food but also for venturing SPES Program as a corporate responsibility. McDonald’s SPES beneficiaries will have more reason to say “Love ko ‘to.” [Aloha B. Jaudian,Western Misamis Oriental PFO/PIA10]
protagonists of “Grasya,” Telmoand Lila Gianelli Ang, respectively. Ang was also hailed as the Female Star of Night together with Harold Villegas of “The Bully Has Awakened” as the Male Star of the Night. “Across the Universe” by Megan Louise C. Hernandez won the Best Editing while John Uy of “En Pace” (In Peace) by Orpheus Nery won the Best Sound Scoring. Although “Tingki” (Tiptoe) by Brian Adam Salvador Anay did not emerge in the top 3 list, it received a surprise award from the National Commission for Culture and the Arts (NCCA) called Sulyap Kultura Award for showcasing cultural understanding and solidarity in their work of art. “Tingki” also took home the Best Story. Quoting Oscar winner Lupita Nyong’o, Carmela Aiana Dalangin said, “Whatever your religion, your status in life, your sexuality, your dreams are valid.” Dalangin plays a teenage Muslim and aspiring ballerina in “Tingki” who chose to fight for her dreams in dancing amid the societal reprisals because of her faith. Springboard for emerging artists Alongside Cinemagis was SM’s Brillante Mendoza Film Festival where his internationally acclaimed films “Thy Womb” and “Foster Child” were screened at SM Cinema 3 and 4 on Jan 22.
The food giant company in the world famous for its all-beef patties and the iconic golden arch logo partners again with DOLE on the Special Program for the Employment of Students (SPES). Some 50 students will be given employment to five McDonald stores in the Cagayan de Oro City 52 days. P15,912 will be disbursed to each beneficiaries at 40% and 60% sharing between DOLE and McDonalds. McDonalds will pay the amount in cash at P9, 547.20. The remaining amount of P6, 364.80 will be shouldered by DOLE through educational voucher for the tuition and book fees. (Aloha B. Jaudian, DOLE 10)
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“I am honored to be one of the fortunate Real Estate Management (BSREM) students of XU who had the chance to witness an inspiring talk by the master in real estate selling. With his expertise, ideas and experiences, I am more than encouraged to pursue a career in this industry. I can definitely see my future prosper here,” Kharl Gapultos, a pioneering REM student, said. He added, “It is my second time to visit Primavera Residences and I am always in awe with how the building was able to breakthrough in the business. With the property’s sustainable features, it is indeed worth the investment.” Developed by Italpinas Euroasian Design and EcoDevelopment Corporation, Primavera Residences is the premier eco-friendly development in Northern Mindanao. The property is locally and internationally recognized due to its unique high-performance design which allows the building to save as much as 32% in energy costs. For inquiries about Primavera Residences and Italpinas projects, call 0917-794-2221 and (088) 880-5001; or you may visit www.primaveraresidences.com.
The award-winning director shared some tips to young filmmakers during the opening ceremony of Cinemagis on Jan 21. “Make the most the technology. Make the most of what we have today. But at the same time, do not lose the passion and the emotion to tell the story.” As he recounted, “I was not able to make my first film at a young age because it’s expensive [back then]. You are lucky now that we are digital. You can even make a film using your phone.” It is important for Brillante that accolades should not get into the heads of young filmmakers. “Filmmaking is a workin progress, it’s not because nakagawa kana nang pelikula eh magaling kana (it’s not because youhave made a filmthen you are already great at it). “Always find an opportunity to learn, to grow. Hindi ‘yan natatapos (It does not end).” Despite the absence of formal film schools in Northern Mindanao, Cinemagis has served as an avenue to showcase the works of filmmakers from this part of the country. The festival also aims to promote local talents, voices and culture. To this end, the Cinemagis jurors, Arnel Barbarona, Felimon Blanco and Orvil Bantayan, together with Savior and Bernadette David, NCCA project monitoring and evaluationofficer,
conducted a forum with the filmmakers to share some insights on how to improve one’s cinematic language and aesthetics. Cinemagis alumni and new filmmakers have converged to form the Northern Mindanao Film Network, which aims to strengthen the ties and support with fellow artists. On January 23, a technical working panel was formed, composed of seven people representing different groups and institutions in the region while XCCA serves as their host organization and executive secretariat. Cinemagis served as the springboard for budding artists to tackle a wide range of social issues in Mindanao using the film medium. XU president Fr Roberto “Bobby” C Yap SJ related to the young filmmakers the three key points of the undelivered speech of Pope Francis during his visit at the University of Santo Tomas: Challenge of integrity, concern for the environment, and care for the poor. “Film is a powerful force and instrument of communicating what is good and what is true and what is real in our lives. Film is actually a way to do this great work that [Pope Francis] talks about of renewing our society and building a better world.”
by STEPHEN J. PEDROZA Xavier University
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editor: SHAUN ALEJANDRAE YAP UY
“Sangil” director Christian Alan E. Toring, with his cast and crew, recieves the award for Best Short Film (Student Category) in the recently concluded Cinemagis 7 Digital Short Film Festival in Northern Mindanao at the SM City CDO Activity Center, January 24. Photo by ROQUE SALVO
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“Ang Lihim ni Natividad” director Jasmine Limas, with her cast and crew, recieves the award for Best Short Film (Student Category) in the recently concluded Cinemagis 7 Digital Short Film Festival in Northern Mindanao at the SM City CDO Activity Center, January 24. Photo by ROQUE SALVO
‘Ang Lihim ni Natividad’, ‘Sangil’ emerge as victors at Cinemagis 7 F
rom the roster of 13 official film entries, “Ang Lihim ni Natividad” by Jasmine Limas and “Sangil” by Christian Alan E. Toring shine brightest during the seventh installment of Cinemagis Digital Short Film Festival in Northern Mindanao. Under the banner of Xavier Center for Culture and the Arts (XCCA) of Xavier University, the festival shortlisted 4 entries for the professional category and 9 student films, screened at Xavier University Little Theater (XULT) and SM Cagayan de Oro Cinema 3 and 4 on January 21-24. “On our 7th year, we have continued to strengthen this festival not only in terms of the number of participating filmmakers but also to really deepen the experience of the audience—to nurture quality audience for quality films,” said Hobart Savior, XCCA director. “In Northern Mindanao, we already have the passion and the stories to tell. We aspire that Cinemagis will not only be a collection of films but
it will also be a string of inspirations, responsibilities, vision and growth for the filmmakers and the audience.” The awarding ceremony was held at SM City Event Center on its last day. Cinemagis winners “Ang Lihim ni Natividad” (The Secret of Natividad) was hailed as the Best Short Film for the professional category. It also garnered 3 other awards, namely Best Story, Best Poster and Best Actress for Jed Miñoza. As the third film of Limas, ALNN follows an unconventional love story set in Loon, Bohol with religious and cultural nuances questioning the foundation of the main characters’ relationship with one another. Director Limas was a little emotional in receiving the top award where she summed up all their efforts from start to finish as product of “genuine determination.” She said that despite the lack of budget and equipment, she pushed through and believed in the integrity of the story.
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Northern Mindanao filmmakers Jasmine Limas and Joe Bacus in a photo op after the conclusion of Cinemagis 7 Digital Short Film Festival in Northern Mindanao at the SM City CDO Activity Center, January 24. Photo by ROQUE SALVO