BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 094
Market Indicators
As of 6:12 pm January 3, 2017 (Tuesday)
FOREX
PHISIX
US$1 = P49.788
6,658.20
X
1.9 cents
20.67 points
X
Briefly Miss Universe THE 65th edition of Miss Universe pageant activities kicked off with the rousing visit of beauty titlists from 12 countries recently, who altogether provided a fitting climax to this year’s Philippine tourism program. “It gave a sneak-peek of the Philippines’ bestkept secrets as a worldclass tourist destination, an ideal and safe haven for international visitors,” Tourism Secretary Wanda Tulfo-Teo was quoted as saying. The country’s hosting of the prestigious beauty contest in January 2017 has been the focus of the Department of Tourism (DOT) under Secretary Teo as part of her plans to boost visitor arrivals to the country since assuming office in July.
YOUR Mindanao-wide BUSINESS paper
RELIABLE
IN-DEPTH
By CARMELITO Q. FRANCISCO, Correspondent
D
AVAO City -- The Davao Region office of the Department of Agriculture (DA-11) has initiated the formation of corporate farms for rice with the local government units as main actors of the program. Regional Director Ricardo G. Onate, Jr. said the initial response has been positive with several municipal governments expressing intent to join existing cooperatives based
in five towns in Davao del Sur province. “It is hard to expand the areas, but what we can do is expand production (by connecting small producers to create a bigger group),”
Wednesday | January 4, 2017
Mr. Onate said in a media forum yesterday. At present, the region’s average rice production rate is four tons per hectare (ha) a year, but some farms in Davao del Sur have achieved about seven tons. Davao Region has about 103,000 ha of rice farms, based on data from the Philippine Statistics Authority. With joint development efforts through the corporate farms, the DA-11 is aiming to increase the regional annual farms/PAGE 11
A woman farmer prepares to transplant rice seedlings in one of the rice producing towns in Maguindanao. Mindanews Photo
DOT targets 3-M hike in visitors in 2017 THE Department of Tourism (DOT) is aiming a three million increase in visitor arrivals this year from 2016’s six million in Davao region. Tourism Secretary Wanda Corazon Teo in an interview Monday said, “this mark could be too ambitious but we will market our destinations around the globe the best
Fish price monitoring MAMBAJAO, Camiguin – While finding effective ways to bring down the prices of fresh catch fish at the Mambajao Public Market, local officials are appealing for cooperation from stakeholders. Soaring prices of meat, along with vegetables have been a growing concern here and the local government unit has been trying out measures to address the issue. Mambajao Sangguniang Bayan Member Norgene L. Ceniza expressed the intent of Mayor Jurdin Jesus Romualdo to help out the vendors and the fisherfolk, but ultimately to bring relief to the consumers. Ceniza said the chief executive is eyeing also on reducing the prices of agricultural produce but for now putting its priority in resolving the prices of fish meat at the local market here.
P15.00
Rice farms consolidate to increase efficiency www.businessweekmindanao.com
LAUNDRY DAY. Villagers wash their laundry by a creek in the hinterland village of Tagbalogo in Naawan, Misamis Oriental Monday (2 January 2017). MindaNews photo by Bobby Timonera
Vitarich to ink supply deal with farmers, DA for corn mill By CARMELITO Q. FRANCISCO, Correspondent
DAVAO CITY -- Agribusiness f ir m Vit ar ich C or p. is partnering with local farmers
and the Department of Agriculture (DA) to process corn supply at the company’s
new feed mill in the city. DA Davao Region Director Ricardo M. Oñate, Jr. said the department and the vitarich/PAGE 11
way we could.” “You know I am very ambit i ou s but we w i l l work hard for it,” she said, explaining that 2017 is a very busy year for as several events have already been lined up towards the end of the year. “We are starting the year right with big international hike/PAGE 11
Investments in Davao hit almost P8B as of 2016 3Q By ANTONIO L. COLINA IV, MindaNews
DAVAO City – Investments in Davao Region reached P7.684 billion as of third quarter of 2016, records from the Department of Trade and Industry (DTI) 11 showed. The third quarter investments in 2016 already surpassed by 38.7 percent the entire 2015 record of P4.708 billion. DTI 11 reported that of
these investments, Davao City bagged 33 percent, Davao del Sur 29 percent, Davao del Norte 27 percent, Compostella Valley 7 percent, Davao Oriental 4 percent. Davao Occidental, a province carved out from Davao del Sur, had no investments yet. Most investments came investments/PAGE 11
PSALM still has P466-B collectibles from privatization proceeds By MYRNA VELASCO, Contributor
STATE asset-seller Power Sector Assets and Liabilities Management Corporation (PSALM) still has US$9.36 billion (or P466.22 billion at
current peso-dollar exchange rate) worth of privatization proceeds to collect which may be utilized to pare its debts and other financial
obligations. The company emphasized that from its accomplished privatization mandate it fetched “a total of US$19.891 billion,” and of the entire proceeds, “actual collection
amounted to US$10.531 billion,” as of second quarter of 2016. B ased on data f rom the company, it has yet to receive payments at aggregate US$6.899 billion from the
independent power producer administrators (IPPAs) of the privatized power supply contracts of the National Power Corporation. The total proceeds from psalms/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776
Economy 2 11 joins calls to DA-10 worker gets P500k BFAR clear Davao Gulf of garbage in Pag-IBIG raffle promo L Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
OLITA O. Albase, currently working at the Department of Agriculture (DA) Region 10, bagged the P500,000 cash prize of the Pag-IBIG Expanded Raffle Promo during the preliminar y draw on December 21 at the Philippine International Convention Center. A first-time winner of any raffle event, Albase, married and a mother of two, said that she read the advisory about the raffle on their human resource (HR) bulletin board and was able to submit four entry tickets. “I was surprised, happy
and I could not believe it because there are so many raffle entries nationwide,” Albas e express ed up on knowing that she won a cash prize from Pag-IBIG. Albase was able to join the raffle as she contributes P2,500 for the personal share and P100 from her company. The minimum monthly savings required for members to join the raffle is P600 and above. When her family learned about her winning Albase s a i d , “My f a m i l y, t h e youngest one, she’s very much excited and asking for balato (a cut from someone’s
winning) while my eldest daughter suspected that it was a scam.” As for he r pl ans of sp ending her w inning , Albase shared that together with her husband, they are planning to put up a building for business purposes in a lot she owns at Barangay Consolacion, Cagayan de Oro City. When asked about her experience with PagIBIG, Albase shared, “My transactions in Pag-IBIG are all okay. The records are reliable and transparent where you’ll know your total savings.”
Wi t h t h e l u c k s h e obtained from Pag-IBIG, Albase said, “I advise and give encouragement to my co-employees to increase t h e i r m o nt h l y s av i n g s especially the new entrants.” She also added that PagIBIG gives better security in terms of savings as it also provides higher dividend compared to commercial banks. T h e prom o a i m s t o encourage the Fund members to upgrade their savings as preparation for their family’s immediate financial need. raffle/PAGE 11
DAVAO City -- Experts from the Bureau of Fisheries and Natural Resources in Davao Region found several plastic materials, fish net, coconut lumber with nails among others in the belly of the sperm whale that beached at the Island Garden City of Samal, Davao del Norte two weeks ago. Fatma Idris, director of the BFAR 11 said these elements caused distress on the sperm whale which led to its eventual demise. She said the current of water between IGACOS and the mainland Davao is very strong, making it a natural waterway for all types of garbage including the plastics to be carried away.
“It is the reason why we discourage residents from throwing their garbage on the water since it will lead to the Davao Gulf areas, c o n s e q u e nt l y e n g u l f e d by mammals stranded t here w hich le d to t he deterioration of their health condition,” Idris said. She encouraged residents to plant Mangroves that will certain to filter the garbage to the sea. Idris said residents can do much by not throwing their garbage to the sea. “ Vi o l a t o r s w i l l b e penalized based on the Republic Act 9003 or the E colog ic a l S olid Waste Management Act of 2000,” she said. bfar/PAGE 11
RPN Radyo Ronda Stations Nationwide
CNN Philippines Stations Nationwide Nur Ian Caridad, DOH-Northern Mindanao Education promotion officer III, says that since there is no total banning of firecrackers in the city, DOH is urging every individual to make noise with the use of toy trumpets, kitchen utensils and other materials that make loud noise instead of lighting up firecrackers during the press conference on December 23 at Northern Mindanao Medical Center (NMMC).(RTP/PIA10)
CNN Philippines TV-9 Manila CNN Philippines TV-12 Baguio CNN Philippines TV-12 Dagupan CNN Philippines TV-26 Tarlac CNN Philippines TV-10 Iriga CNN Philippines TV-4 Iloilo
CNN Philippines TV-8 Bacolod CNN Philippines TV-9 Cebu CNN Philippines TV-5 Cag. de Oro CNN Philippines TV-5 Zamboanga CNN Philippines TV-7 GenSan CNN Philippines TV-9 Davao
DZBS 1368 Baguio DZRL 639 Batac DZTG 621 Tuguegarao DZKI 1332 Iriga DYKW 936 Binalbagan DYKB 1404 Bacolod DYKC 675 Cebu DXKO 1368 Cagayan de Oro DXKS 1080 Surigao DXKD 1053 Dipolog DXKP 1377 Pagadian DXXX 1008 Zamboanga DXKT 1071 Davao DXDX 693 General Santos
CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011
3
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
IDC visits Sto. Tomas for Miramonti Project By Kim Namocatcat
C
urrently undertaking its initial move for its third project, Miramonti, publicly-listed company Italpinas Development Corporation (IDC) is pursuing to expand its sustainable advocacies in Luzon starting with Batangas Province. Fostering ties with the government officials of the town, IDC executives and staff namely, Jose P. Leviste Jr. (Primo Consiglieri), Arch. Romolo V. Nati (Chairman and CEO), Jose D. Leviste, III (President), Harold J. Dacumos (SVP for Banking and Business Operations Management), Michelle Zuñiga (Compliance Manager) and Arch. Faicer June Varona, visited Sto. Tomas for the Miramonti Project, last December 19, 2016. Moved with a vision to
Italpinas Development Corporations (IDC) recently had a meeting with Santo Tomas officials for the Miramonti Project.
develop green projects across the Philippines, IDC takes its brand of designdriven sustainable architecture with Miramonti to Sto. Tomas. “We are honored to see the optimism shown by the town’s government officials and its people towards our green building concept. Their warmful
acceptance on the Miramonti project builds us more confidence in moving our green advocacy in Southern Luzon,” said Arch. Romolo V. Nati, Chairman and Chief Executive Officer of IDC. Santo Tomas, which is known for its green movement, shares the same passion with IDC’s sustainable goals.
FREE Publication of PRESS RELEASES for corporate accounts to Mindanao Daily News and BusinessWeek Newspapers
“As a company aimed to bring sustainable projects in emerging cities in the country, we believe the booming town of Sto. Tomas in Batangas is an ideal location for our third sustainable project. In fact, environmental protection is a topmost concern of the province which perfectly fits
to our ambition,” he added. Miramonti, an Italian word which means “facing the mountains”, is IDC’s first development in Luzon and outside of Northern Mindanao where the company’s first two multi-awarded green projects are located. Like Primavera Residences and Primavera City,
Miramonti will harness green strategies as well as present its authentic Italian design. The said project is expected to launch in 2017, while its sales office is planned to open by the first quarter of the same year. To know more about Miramonti and IDC’s other projects, visit www. italpinas.com.
4
Opinion
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
Battered Butig
Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO
ALLAN mario MEDIANTE
Vice President for Corporate Affairs
Joe felicilda
Vice President for Administration
joe palabao
Vice President for Marketing
NELSON CONSTANTINO Editor-in-Chief
Cheng ordoñez
gilbert y. chao
Executive Editor
Motoring Editor JOEL ESCOL
BONG FABE
Feature Editor
Associate Editor
CLIFFORD SANTILLAN Layout Artist
JUN AYENSA
shyne campaner
Regional Editor Caraga
Advertising
ATTY. MARIO T. JUNI
Cris diaz mike baños Uriel quilinguing Contributing Editors
Cell No: 09352379999
Juni Law Office Cruz Taal St., CDO Legal Counsel
manila office: Unit 310 Valero Plaza, Valero Street, Salcedo Village, Makati City; lani vallido-Marketing Manager Shiena Shyne Campaner & Wemalyn Garcia Marketing Staff - CDO
The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463826-272-000 – VAT. Reg., and with Business Permit No. 201512879. Tel. Nos.: (088)8578447, 74-5380, 0923-432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com
Member: Philippine Press Institute Oro Chamber
Yes Means Stress Think a minute…Are you a “yes man” or woman? Do you always say yes to every body who asks you for a favor and help? Some of us just can’t say no to others. The problem is our ‘yes’ often means stress—to us and our family. Many times saying yes to one person means saying no to someone else like your own mate and children. Of course, we need to care about others and try our best to help those who need it. But we must also know our limits and that we cannot always say yes to everybody who asks us for help. Learning to sometimes say no to others will mean yes to your own family and responsibilities, which will help lower the stress in your life and home. Remember, you’re the only father or mother your children have; if you don’t do your job of loving and teaching them, then no one will. Then our family life at home becomes a tense, angry mess instead of a peaceful and happy place. So each time someone asks us for a favor and help, we must look carefully at their request and decide if doing this for them is a c tu a l ly helpi ng t he m .
THINK
A Minute
Where is the Holiday Spirit in War-Torn Butig? One Butig lady could not use her eyes nor hear already. One body’s headtop was still evident from his semi-burial state. These were some testimonies of the impact of war here in the Philippines. Not just Aleppo, but Butig deserves the sympathy of the Filipino as suffering by thousands of evacuees spread throughout Lanao del Sur and Marawi were highlighted by civil society visiting Butig yesterday. Lanao del Norte, Northern Mindanao-based
NGOs joined Lanao del Sur civil society in the independent initiative to see the ground impact of the war. Butig has been subject of various army operations against the so-called Maute group this year since February, pre-Ramadhan May and now November . Only a few media has been able to enter these premises where a camp is located outside Butig proper at the highway. CSOs took photos of destroyed buildings such as schools and homes , a mosque with bullet holes
at Barangay Bayabao at the Poblacion area . They recommend humanitarian assistance and psychosocial counseling . Patak-patak donations like plastic mats, pails, mosquito nets were given by civilians through the CSO groups . Mayor Dhimnatang Pansar urged proper reportage of the impact of the conflict so that ad equate assistance is given. Samira Ali Gutoc-Tomawis is the former Sectoral Representative (Women) at the Regional Legislative As-
samira ali gutoc-tomawis sembly (RLA) Autonomous Region in Muslim Mindanao Cotabato City, Philippines. You can follow her at http:// samiragutoc.webs.com
Begin with Big Breaks in Mind I begin 2017 with plans to pivot what I want to take place in the future. This does not mean I own what lies ahead; but this means I do my part as God’s partner in accomplishing good in my milieu. Rather than just making new year’s resolutions, I should reset goals—or start setting them if I haven’t done it before--put them in writing and direct my passion in accomplishing them. Starting the year also involves what makes one empowered by developing new habits, junking old ones, planning how to make progress on activities that are worthkeeping and determining how to measure progress. One, however, finds himself or herself so entangled with constricting world views if he or she does not first check his or her assumptions and beliefs. Are theories in one’s mind delimiting rather than adding value to his or her existence? How is one’s judgments of his capabilities to organize and execute courses of action required to attain goals—his self-efficacy? Self-efficacy determines how much effort people
will expend on an activity, how long they will persevere when confronting glitches, and how resilient they will be in the face of mishaps. The stronger one’s sense of personal competence, the better he approaches difficult tasks; the greater the intrinsic interest and the deeper engrossment in tasks, the more he sets challenging goals and commit to them, and the more he sustains his efforts in the face of miscarriages. You must have selfefficacy. And for you to have a good closure to 2016, it is important to reflect on the past year to establish where you want the new year to take you. Here are strategies to apply: 1) List down things you planned to accomplish but did not. 2) Write the reasons why failed to achieve the outcomes you intended. 3) Make another list of what you did achieve in the past year. 4) Let all your effort, dedication and achievement sink in. 5) Resolve to accept areas where you fail and
rededicate yourself to leaving behind any feelings of regret. B e honest about the thoughts you did not express, conferences you did not participate, people you did not meet, and repairs you could not implement. Then ask why you could not deliver the results you once intended. Could it be because of distractions like more time spent on social media or there weren’t enough resources? Or is it because of fear? Counting what you did may be easier and longer because for sure you did a lot of tasks in your list. You may have finished you graduate school, you encouraged your children intentionally, written five poems and met sales quotas for several months, among others. It is als o imp or tant to reflect on your effort, dedication and triumphs as these give the sense of pride and gives a clear idea on how to start the new year, thus bringing closure to the previous year. The last step enshrines growing. Failing is part of growing and as we learn the lessons of the past, we move
lucell larawan on with more wisdom and greater accomplishments. “Your life today is the result of all your choices and decisions in the past,” avers Brian Tracy. “When you make new choices, you create a new future.” The steps above lead you to reset your goals for 2017. For me, it could be stated as: 1) to hold two solo exhibits in mainstream galleries; 2) to participate in at least one trade fair; and 3) to come up with five poems in English and two short stories in Cebuano and Hiligaynon. After setting the goals for 2017, activities and timelines should be made. Good criteria can help me gauge the big breaks I am aiming for.
Happy New Year 2017! Jhan Tiafau Hurst You see, if we never let others take responsibility for themselves and their own problems, then we’re not really helping them to become responsible and s u c c e s s f u l , s i n c e we’re always doing their job for them. So just being a “yes man” or woman is not always the kindest thing, nor is it being a true friend. Other times, when someone asks you to do them a favor, you don’t need to answer them right away. You can tell them that you’re not sure and you’ll answer them later. This way you have time to think about it and check your own schedule and responsibilities first. Maybe you can help this other person, but at a different time then they hurst/PAGE 11
Sweet words are easy to say; nice things are easy to buy; but good people are different to find. Life ends, when you stop dreaming; hope ends, when you stop believing; friendship stops, when you stop sharing. A good fiend of mine sent me this quotation. I commented back: So very true and very well said! A new year has just b e g u n . We’re t h i n k i ng back. We deleted friends and connections. S ome mutual friends - not only in Facebook - didn’t remain as mutual. Some good new relationships have begun and made possible because of a mutual acquaintance. Or, we’re looking forward renewing relationships. S ome s e as on g re et ings brought back special memories. Keep in mind, our life is borrowed - from God.This
is going to be a little bit complicated now, so keep going. No rental charges are collected from us. Many of us have forgotten this and live life at his fullest. Our life is equal to a book from a library that lends one. But how insatiable and unbearable are we in disdainful acting towards life and therefore to ourselves? Life seems to be nothing, just being ready to riddle one with bullets. Life seems to be nothing, just being broken through the indifference and unreliable and immoral behavior. Life seems to be nothing for those people who don’t understand cries from the heart of other people around them - cries for their hearts and families, for justice and for many other things. Life with all its ups and downs, is just a loan, but for many of our fellow
creatures it just seems to be nonsense to be littered like dump. And, if people try to survive, especially during these days, and if they just experienced (once more!) indifference, arrogance, ignorance or cheating by whomever - they will give up! I can assure you that every one of us can at first help in prayers and, in reading the bible. “Proverbs” is the probably most downto-earth book in the bible. Its teachings prepare you for the daily life, the street and the market place, but not for the schoolroom. The book offers warm pieces of advice you get; practical guidance for making your way on earth. Proverbs covers any kinds of questions you might have right now. Anybody can relate to the generalities of Proverbs, because this book simply tells how life works
H ave M y Say
Klaus Doring
most of the time. “Let’s enjoy every single loophole in law?” What a sad and fatal attraction! This shouldn’t be the beginning of the new year 2017! +++ Email: doringklaus@ gmail.com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines.blogspot.com or www.klausdoringsclassicalmusic.blogspot.com.
CorporateWorld Duterte still studying P2,000 SSS pension hike
5
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
A
S his verbal retreat on a promise to clear the hike in Social Security System pensions has drawn flak, President Rodrigo Duterte has decided to study first the proposal upon the recommendation of his economic managers, Palace Communications Secretary Martin Andanar said on Monday. "The President is looking for a win-win solution where he can give pensioners the increase they have been asking for while that SSS will remain solvent at all times," Andanar said in a text message. "As the President said, he does not want to use taxpayers' money, especially money of non-SSS members,
should a funding problem arise because of the increase," he added. In a series of year-end T V inter views, Duterte said he got advice from the economic managers that the SSS might go bankrupt if the P2,000 pension hike is granted to SSS retirees. Some militant lawmakers are upset by this, noting that Congress in fact had compromised on the matter by providing for a two-stage hike, with only P1,000 to be made available this year. Senate President Aquilino ‘Koko’ Pimentel III, President Duter te’s close ally, welcomed the President’s decision to study first the pension hike. " We s h o u l d a l w a y s be cautious and be extra
Vista Land raises P5.15B via corporate notes VISTA LAND & Lifescapes, Inc. has secured P5.15 billion to finance its capital expenditures next year and refinance debts, with the issuance of corporate notes to various financial institutions. In a disclosure to the Philippine Stock Exchange on Thursday, the property business of billionaire Manuel B. Villar said it obtained a 10year corporate notes facility at a fixed rate of 6.11879% per annum. China Bank Capital Corp. acts as the lead arranger of the notes issue, while China Banking Corp. -- Trust Group serves as the facility agent. The listed company’s subsidiaries -- Brittany Corp., Crown Asia Properties, Inc., Camella Homes, Inc., Communities Philippines, Inc., Vista Residences, Inc. and Starmalls, Inc. -- have agreed to guarantee the debt papers. “The proceeds of the facility will be used to
pre-fund the company’s 2017 capital expenditures and refinance its existing indebtedness, and for other general corporate purposes,” Vista Land noted in the disclosure. In the coming two years, Vista Land is investing P18 billion to grow its mall portfolio alone. The company plans to develop 10 shopping centers under the Vista Mall and Vista Place brands, as part of a strategy to expand its recurring income base. The 10 new shopping centers will expand Vista Land’s footprint in the mall business to 1.3 million square meters (sq.m.) in gross floor area from the 910,000 sq.m. available in 17 operating properties, including those developed and operated by Starmalls. Vista Land expects its ma l ls, of f ice bui ldings and other leasable assets to account for 30% of its vista/PAGE 11
careful in spending money raised or collected under mandate of the law (like taxes and SSS premiums). Hence, if President Duterte needs time to study the matter then let us give him the study time he needs," Pimentel was quoted in a Philstar.com report. According to SSS chairman Amado Valdez, the SSS’s current fund life would be shortened from 2042 to 2031 if half of the P2,000 is given beginning January this year based on the SSS Board’s proposal. Andanar said Duterte will again confer with his economic managers to solve the impasse. Bayan Muna party-list has pinned on the NEDA chief the blame for the President's retreat from a promise to grant the pension hike that his predecessor had vetoed. The p ar ty-list aske d Duterte to consider firing Socioeconomic Planning Secretary Ernesto Pernia and his Cabinet allies for refusing to allow the P1,000 pension increase. O n Ne w Ye ar’s D ay, Bayan Muna Rep. Carlos Isagani Zarate and Bayan Muna Chairperson Neri C olmenares a ls o urge d Duterte to immediately sign the P2,000 SSS pension i n c r e a s e “a s t h i s o n l y translates to P66 per day for the much needed additional fund for our senior citizens’ food, maintenance medicine and other expenses.” According to the m i l it ant bl o c , Pe r n i a opposes practically a l l of D ut e r t e’s p o l i c y pronouncements, including his vow to ensure rice selfsufficiency, his pledge to stop land conversions to prevent more arable land from being transformed into commercial centers, residential subdivisions and industrial parks, and
his commitment to raise the monthly pension of SSS retirees. In the matter of the SSS pension hike, Pernia has the support of Finance Secretary Carlos Dominguez II and Budget Secretary Benjamin Diokno. Zarate and Colmenares accused the three Cabinet members of “junking and sabotaging Congressional measure to give immediate relief to millions of SSS pensioners now and in the future.” “The concession to give the pension increase in two tranches, upon strong representations by the new SSS leadership, was in fact allowed by Congress so that the SSS can still raise more funds. Thus, it is utterly ridiculous for the three Cabinet secretaries to say that the agency would go bankrupt,” Zarate insisted. “In fact, with the initial P1,000 increase beginning this month, that would mean just P33 per day of additional funds for the elderly p ensioners,” he added. Z arate, one of the principal authors of House Joint Resolution No. 10 granting the increase beginning January 2017, condemned the Pernia bloc's move. “ D u r i n g t h e Ho u s e and Senate hearings, SSS Chairman Amado Valdez even explicitly said that the P1,000 initial pension increase can be done as early as December 2016 and the SSS would not go bankrupt. He even added that raising membership premium is also the least, even last, of their options to raise the funds of the agency. Furthermore, if at all, government subsidy for the pension fund as provided for by the SSS Charter is even higher in pension/PAGE 11
RESORTS, HOTEL & RESTAURANTS DIRECTORIES
A PUBLIC SERVICE BY:
Algen’s Dive Resort (088) 3872015
Pryce Plaza Hotel 8583131 Fax: 726687
Apple Tree Resort & Hotel 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 0939-9076948
Prawn House (088) 3095992 Fax: 8519219 Ridge View Chalet 8588946 / 8587946 Fax: 8588946
Bahay Bakasyunan sa Camiguin (088) 3871057 / 3870131 Fax: 3870278 Basamanggas Resort 08822-760564 Fax: 760565 Cagayan Riverview Inn 8584245 / 729039 Fax: 8584245 Casa Crystalla 8561704 / 722465 Fax: 722480 Casa Isabella (088) 8564065 Casa Azucena 8563402 / 09236593973 Chali Beach Resort 732840 / 8552108 Fax: 8555941 Chananthon Bed & Breakfast 8568189 / 3093095 Country Village Hotel 8583004-06 Fax: 8583006 D’Budgetel 8564200/726643 Fax: 8564300 Dahilayan Forest Park 8568562 to 63 De Luxe Hotel 8572144 / 724548 Fax: 724563 Discovery Hotel 727814 / 8563896 Fax: 8563897 Duka Bay Resort (088) 3312290 Fax: 725265 Dynasty Court Hotel 8574802 Fax: 857900 Grand City Hotel 8571900 / 728469 Fax: 723718 Hotel Conchita 8563856 / 727355 Fax: 8563857 Hotel Koresco 8589749-50 Fax: 8589748 Hotel Sogo 8520383 Kingston Lodge 8585696 Fax: 8585696
Southwinds Hotel 724803 / 8562036 Fax: 8562036 Stargate Dream Vacation Resort 8515003 / 8509999 The VIP Hotel 726080 / 8562505 Fax: 726441 RED PLANET 8800888/8801306 Travelers Pod 8518988 Uptown Condotel 8511800 Villa Paraiso Apartelle 3870419 Fax: 3870429 HONORARY MEMBERS: Dept. of Tourism 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: Bigby’s Café 72-1071/857-5511/8575836 Fax: 711843 Café Laguna 8582999 Fax: 8567001 DM Villaruy Restaurant 733790 Golden Ajirang I 856-5271 Fax: 727876 Grand Caprice Restaurant 72-6955/856-2302 Fax: 72-4986 Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003 La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605 Missy Bon Bon 8566852 / 09228606442 Fax: 8566852 SLERS Ham & Café 8551438
Mapawa Natures Park 8584402 Fax: 725265
Thai Me Up 738424/3108424 Fax: 738424
Mallberry Suites 8541999 / 7249999 Fax: 8544999
Barkadahan Grill 8551234
Maxandrea Hotel 8572244/729943 Fax: 724090
La Tegola Cucina Italiana 8585959
Miami Inn 8581901 to 02 Fax: 725279/728486 N Hotel (088) 8801924 Paras Beach Resort 8568563 Fax: 8568563 PhilHealth Bukidnon Chief Romulo “Jojo” Lapuz orients Indigenous Peoples (IP) leaders and IP Mandatory Representatives on PhilHealth’s “ALAGA KA” program to start 2017, which intends to address IP’s problems/concerns on health & hospitalization (Bernadith S. Gempisao, MCG/ RLRB, PIA-10, Bukidnon).
Seda Centrio Hotel 3238888 / 0917-577-5910
Philtown Hotel 726295 / 8564402 Fax: 723104
limketkai luxe hotel 8800000 Dear manok 8564914 / 8573413 LIMKETKAI LUXE HOTEL Landline: (088) 880-0000, Mobile: 0917-312-4563 Email: info@limketkailuxe.com
6
Feature
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
Davao Light employees share blessings
Some kids are dying to be adults fast but some are forcibly thrown into it. Employees of Davao Light and Power Co. spent an early Christmas with the beneficiaries of the the Department of Labor-XI’s annual Christmas outreach program dubbed as Project Angel Tree. The Project Angel Tree is open
to all who wish to take part in DOLEXI’s fight against child labor, which is being supported by the Davao Light, its employees, the Income Davao - an Aboitiz employee cooperative and the Aboitiz Foundation. The Davao Light employees helped raise funds to make the children experience joy this Christmas.
Nineteen (19) child laborers ages 12-15 from the second district of Davao City were identified who are supported and monitored by Kaugmaon for Children’s Rights and Social Development, Inc., an NGO partner of DOLE XI. They were invited and brought to a big mall in Davao City where they were given time to
play in the arcade and enjoy like normal kids. The kids were also treated with meals and snacks throughout the day. They went shopping after to buy their Christmas wishes with the assistance of the Davao Light volunteeremployees who stood as their “ates” and “kuyas”. When asked what they wanted
to buy with their money, one replied, “Bugas lang (Rice will do),” and another one replied “Pukot ra akoa (Mine’s fish net)”. These kids were then reminded to buy what they want for themselves and not for their work or their families as they each get to bring home noche buena package for their Christmas celebration. They
bought things from cellphone to clothing. A few can’t help themselves and bought items for their parents and siblings. Davao Light’s support to the Project Angel Tree is now on its third year and its employees can’t wait for another opportunity to help out more kids especially during the season of giving.
Davao Light employees spend time with kids. Last December 22, Thursday, Davao Light employees spent time with nineteen (19) children who works to remind them to cherish their childhood. This is in support with DOLE-XI’s Project Angel Tree which is a project to fight against child labor. The kids were brought to the arcade to play games and were treated in a shopping spree.
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
Banking&Finance
GMA seeks removing BSP authority over AMLC F ORMER President and now Pampanga Representative Gloria Macapagal-Arroyo is seeking the removal of the authority of the Bangko Sentral ng Pilipinas (BSP) to super vise the operations of the Anti Money Laundering Council (AMLC). “ To insulate the BSP officials from the actuations of AMLC, especially the political ones that may be influenced by the Council officials’ loyalty to their appointing authority, the BSP should be liberated from the burden of supervising the very rigorous demands of criminal investigation, such as those performed by AMLC,” she said. The AMLC is an indep endent b o dy t hat mon itors t he f i nanc i a l system to guard against dirty money deals. Bangko Sentral ng Pilipinas (BSP) Governor Amando Te t a n g c o , J r. s i t s a s
chairman of the council. Other members include the Insurance Commissioner and the head of the Securities and Exchange Commission. Arroyo wants her proposal included in Section 128 of House Bill 731, or the proposed New Central Bank Act authored by Representatives Karlo Nograles and Jericho Nograles. While pushing to prohibit the BSP from supervising the operations of the AMLC, she maintained that the BSP Governor may still serve as a member of the Council. In justifying her prop os a l, Ar royo cite d the present case of BSP Governor Amando Te t a n g c o , w h o m s h e appointed when she was President in 2005, and was reappointed by her successor, Benigno Aquino III, in 2011. He is set to step down in July 2017. “Though Tetangco has
served the BSP itself with unquestionable distinction, his supervision over the AMLC has exposed some problems,” Arroyo said. “The agency has been acting much on its own with regard to its investigations, without bothering to obtain specific clearances from the BSP governor,” she added. Arroyo claimed that the AMLC, whose officers we re app oi nte d by t he previous administration, “ has d e monst r ate d t he potential of being used as a tool of selective justice.” “In the previous administration, grossly inaccurate information on the alleged bank accounts of then presidential candidate Rodrigo Duterte, and other perceived opponents of the officers’ appointing authority, were leaked out,” she said. “In contrast, information is now being withheld from authorized investigators on the bank accounts of
c e r t a i n p e r s on s u n d e r investigation, who happen to be identified with the previous authority that appointed them, and to whom they seem to owe t h e i r a l l e g i a n c e ,” t h e lawmaker added. Arroyo observed that, although career technocrats like Tetangco showed excellence in the management of the country’s monetary system, they do not have the “temperament and training” to super vise criminal inve st ig at ions , su ch as those being conducted by the AMLC. A m on g t h o s e b e i n g investigated by the AMLC are bank transactions of S enator L ei la de L ima, whom President Rodrigo Duterte has linked to illegal drugs. De Lima was Justice S ecretar y when Arroyo faced a string of cases for plunder and graft, which led to her detention.
Stock market capitalization expands by P973B - PSE THE size of the Philippine stock market expanded by P973 billion in 2016 with total market capitalization totaling P14.44 trillion on the last trading day of 2016 compared to P13.47 trillion in 2015. A statement from the Philippine Stock Exchange said the stock offerings “helped support this growth and offset the decline in prices in the market as the PSEi closed at 6,840.64 points, 1.6 percent lower than its close of 6,952.08 in 2015.” At ceremonies marking the close of trade for the year, PSA chairman Jose T. Pardo said: “As we close the year, let us remain optimistic about the year ahead of us.” “I know that 2016 has been very challenging for many markets given the major events that transpired both locally and internationally,” he said. “But as with many things in life, we draw from this experience and find ways on how to make good and do good out of any situation, including the more difficult ones.” The PSE said total capital raised this year amounted to P170.12 billion, slightly lower than the P184.60 billion raised for the whole of 2015. “The market experienced a lot of volatilities in 2016 arising from unexpected developments in the global political landscape as well as the interest rate hikes in the US. Despite this, we churned market/PAGE 11
SSS bares plans on ensuring its capability to fund the pension increase The Social Security System (SSS) welcomes the idea of raising the SSS contribution rate - a measure endorsed by the country’s economic managers – but stressed that its impact on contributing SSS members and employers should be minimized. Social Security Commission (SSC) Chairman Dean Amado D. Valdez said that the current SSS management has already identified several measures to mitigate the impact of the benefit increase, which it hopes to implement starting with the P1,000 initial across-the-board pension hike targeted for 2017. Earlier, Finance Secretary Carlos G. Dominguez III, Socioeconomic Planning Secretary Ernesto M. Pernia and Budget S e cret ar y Benjamin E. Diokno in a recent memorandum to President Rodrigo Duterte proposed increasing the current 11 percent SSS contribution rate to 17 percent. While the agency welcomes the idea of raising the SSS contribution rate “it should be implemented in stages, raising it by only 1.5 percent at a given time. As for the maximum monthly salary credit (MSC), we support increasing it to P20,000 to better reflect
the present wages of SSS members and enable them to save up more for their retirement,” Dean Valdez said. SSS members currently contribute 11 percent of a maximum MSC or income of only P16,000 per month. In comparison, public sector workers covered by the Government Service Insurance System contribute at a much higher 21 percent rate applied to their entire monthly income. The SSC Chair noted that increasing the 11 percent SSS contribution rate and raising the P16,000 maximum MSC are just part of the various measures that the institution is considering to strengthen the fund’s capacity to absorb the impact of the P2,000 pension hike. Dean Valdez emphasized t h at t h e p re s e nt S S S management has a game plan to ensure that the pension fund can absorb the initial P1,0000 pension increase. “With the guidance of the SSC, we urge SSS management to work on increasing the present rate of return on investments (ROI) to 15 to 20 percent from the current six percent through innovative investments to bolster SSS income and give additional buffer for implementing the pension
increase,” Dean Valdez said. SSS is looking at investing in infrastructure projects such as toll roads and railways under PublicPrivate Partnerships to provide SSS a stable and safe source of income that will be covered by government guarantees. These investments will also help spur economic development in the country. “SSS s e eks to gain ownership of up to 25 percent in utility corporations, so that even in times of power and water rate hikes, our members who comprise the working class will still benefit from the revenues generated from such increases,” Dean Valdez said. SSS is also eyeing joint ventures with developers to maximize the gains from SSS-owned assets such as its five-hectare property at the corner of EDSA and East Avenue in Quezon City. “Given the property’s prime location, we can generate regular earnings from building a high-rise structure with residential and commercial units for sale and lease. We can also earn from charging fees for the use of parking space in the same building and simultaneously help ease heavy traffic in the area,” he said.
7 OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY
A PUBLIC SERVICE BY:
AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274
METRO BANK- COGON Osmeña Hayes St. Cdoc | 726438/8572057
ASIA UNITED BANK Cor.Camp Alagar Road Lapasan, Cdoc 729678 / 8568893
METRO BANK- CARMEN Max Suniel St. Carmen, Cdoc 8581722/ 8585162
BDO – VELEZ Velez-Rn Abejuela Street, Cdoc 2314246/8572075
METRO BANK- LAPASAN CM Recto Lapasan HW, Cdoc 724461/8561721
BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637
METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924
BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796
METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731
BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405
METRO BANK- GAISANO 8561720
BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN
CM Recto Ave. Lapasan, Cdoc, 8563991/727731
BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819
PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 PLANTERS DEVELOPMENT BANK
Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723
PNB- LKK MALL NORTH CONCOURSE
LKK Mall N.Concourse Cdoc 8574149/8575682
PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.
#58 Tiano FernandezSt.CDO 727215/ 8563552 *805
SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625
EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081
SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632
EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331
STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168
ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999 METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415
UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO
Capistrano Corner CruzTaal St. CDO 8524099/722695
UCPB BANK SAVINGS- OPOL Gf forever Books Bldg.Bulua National CDO 754519/8588063 UNION BANK Lapasan Cm.Recto Cdoc | 8566847/8563805 WEALTHBANK Velez Gomez St. Cdoc | 8568942/722174 1ST VALLEY BANK Vamenta Blvd. CornerLirio St. Carmen, Cdoc 8501871/ 8584146 OROBANKERS CLUB Inc. Pnb Carmen | 09151850242
8
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
9
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
Solar Charging Station. Davao Light and Power Company made the celebration of the Yuletide season even merrier as it recently turned over a Solar Charging Station to an IP Community last December 22, 2016 at Sitio Malambuon, Malabog, Paquibato District, Davao City. In photo are Davao Light’s Community Relations Manager, Fermin Edillon, and Streetlights and Pole Utilities Department Manager, Daniel Cabigon handing over the LED bulbs that will used by the beneficiaries.
IP Community Energized using Solar Facility Last December 22, just before everyone started celebrating the most wonderful time of the year, Davao Light and Power Co. officially turned over a Solar Charging Station to the Indigenous Peoples of Sitio Malambuon in Malabog, Paquibato District, Davao City, which is roughly 15 to 20 kilometers away from the nearest Davao Light pole. The 40 direct household beneficiaries also received solar power or deep cycle batteries that they will use to power up small
household appliances and lights. The 72 kilometer distance from downtown which is a two hour travel where one hour is a very bumpy ride were not hindrances for the Davao Light team as headed by Daniel Cabigon, Manager of Streetlights and Pole Utilities Department and Fermin Edillon, Community Relations Manager to deliver a Christmas gift to the community. It took Davao Light team almost two months to erect the
structures and prepare the houses ready for the solar electrification. With the help of many Davao Light employees who volunteered to do the house wiring and putting up of LED bulbs, switches and outlets in the 40 dispersed identified households, success was ensured. Davao Light’s project partner, Ateneo de Davao’s Mindanawon Initiative for Cultural Dialogue will do the capacity training to the community to make the project more sustainable.
The community prepared a simple salo-salo to celebrate their appreciation. A tribal ritual was also performed called “padugo” or sacrificing of a duck, which they did to bring prosperity to their land and to show value for the gift that they have received. “The smiles in the faces of the Indigenous Peoples of Sitio Malambuon painted a picture of a bright and meaningful way to celebrate Christmas.” said Cabigon.
Bringing light to homes. 40 Lumad (IP) households received Deep Cycle Batteries which will be charged thru the Solar charging station installed by Davao Light and Power Co at Sitio Malambuon, Malabog, Paquibato District, Davao City. The stored power in the batteries will be used to fuel their house lights and small appliances.
10
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
11
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017
Farms... from page 1
average to at least six tons per ha. To achieve the target, Mr. Onate said there is a need to expand farm mechanization, which is also seen to help promote farming to the younger generation. Farm mechanization is projected to reduce the cost of production from a high of P11 per kilogram (/kg) to at least P7/kg. The cooperatives that will join the corporate program will also be able to access funds from the Land Bank of the Philippines (Landbank). Last week, newly appointed Landbank President Alex V. Buenaventura announced that the government-owned f inancia l inst itut ion is increasing its lending window to farmers and fisherfolk to P115 billion by 2022 from just about P37.9 billion at present. Landbank, said M r. B u e n a v e n t u r a , i s “reengineering” its credit window for these small borrowers by forming them into groups that he calls “corporatives,” or hybrid cooperatives through farm consolidation. Mr. Onate said municipal and provincial officials have been advised that they need to include the plan in their annual investment programs for easier documentation procedures.
Vitarich... from page 1
company’s technical teams are now drafting a memorandum of agreement, which they hope to sign within the first quarter this year. “Our plan is to provide better market opportunities to local farmers as they will have a supply contract with the feed mill plant,” Mr. Oñate said last week, noting that he met with key company officials to discuss the terms in early December. The DA, he explained, will serve as consolidator for local corn farmers, giving them assurance of “better market prices for their produce.” “This process will slowly eliminate the so-called middlemen, and will, at least, provide the farmers better profits for their produce,” he added. At the same time, farmers will not be compelled to sell their entire harvest to the company if they can find higher prices from other buyers. Initially, farmers will be under contract to sell half of their produce at a premium price to Vitarich, which in turn will be providing farm inputs. Mr. Oñate said Vitarich, a listed company that exited corporate rehabilitation in September last year, will require “good quality” yellow corn for its feed mill. The Philippine Statistics Authority reported that in the first semester of 2015, Davao Region produced 19,329 metric tons of yellow corn, higher than the 17,642 metric tons in the same period the
previous year. The new Vitarich feed m i l l, a c c ord i ng to t he company brief, is located in a four-hectare area in the northeastern part of the city. It is expected to be fully operational within the third quarter of 2017 and has a capacity of 10 tons per hour. Vitarich’s operations involve feeds for livestock, poultry and aquaculture as well as broiler production. Mr. Oñate said the DADavao Region is on the lookout for similar agreements with other agribusiness companies.
Hike... from page 1
events,” she said. She said the hosting of Miss Universe pageant is a big opportunity for the city and the Philippines to be known around the world. “The ASEAN 50 is another big one that we are hosting this January,” she added. Meanwhile, Teo also vowed to market the country’s destinations and will push Davao’s presence in both domestic and international travel fairs. She said DOT will be pouring bigger budget for the promotion of Davao. “And in all of the travels that I’ve done especially on international, I endorsed the country’s destinations including Davao,” she said. She said they will do more promotions for Davao and Mindanao. Teo also said they expect more tourism-related investments to come to Davao. In fact, she noted, a team of investors from China came to the city to visit the sites referred to them. Teo did not give details on this, but she said the investors already checked on the area early December last year where their requirement is about 300 hectares. She said they prefer beach line properties where they could build hotels and put up other related tourism establishments.
Investments... from page 1
from manufacturing (38 percent), transportation and storage (31 percent, and real estate (13 percent). Accommodation/ food services and power got 7 percent each, while agriculture netted 4 percent. The top five highest investors for the period were San Miguel Foods Inc. that poured in P2.244 billion worth of manufacturing plant in Davao del Sur; international port-operator Anflocor’s with its P1.885billion Davao International Container Terminal Inc. in Davao del Norte; Damosa Land Inc., Anflocor’s real estate arm, with P596.59 million; FTC Group of Companies’ P540.97 million in Davao City; and Euro Hydro Power (Asia) Holdings Inc. with P517.77 million worth of hydropower plant in Compostela Valley province. PNX Chelsea Shipping C orp. came as 6th top investor with P507 million, followed by AVLB Asia Pacific
Conglomerate Inc. with P500 million, Grupo San Pedro Realty Corp. with P372.10 m i l l i on , An f l o B anana Corp. with P342 million, and CocohausCorp. with P177.50 billion. The DTI 11 will release the complete data for 2016 within the month. Lemuel Ortonio, City Investment Promotions Center officer-in-charge of Davao City said that the city attracted more investors after former mayor Rodrigo R. Duterte won the presidency in the May 2016 polls. “PRRD (President Rodrigo R. Duterte) has created a buzz on Davao City and became the perfect marketing ambassador for the city’s investment and tourism potential. With the increased awareness comes increased in Davao City for foreign investors to pour in new potential developments,” he said. He added that most of the inquiries came from China, Japan, South Korea, Taiwan, and Malaysia. “The city government must not simply rely on receiving investment inquiries that are pouring in. It needs to be more proactive and take advantage of the spotlight the city has been receiving,” he said.
PSALM... from page 1
IPPA appointments for the supply contract-assets had been at $9.957 billion and only $3.059 billion had been remitted so far, according to PSALM. The other major collectibles of the staterun company would be on the balance for the 25-year concession agreement being the privatization scheme for the National Transmission Corporation’s (TransCo) assets. PSALM noted that concessionaire National Grid Corporation of the Philippines (NGCP) still has a balance of $2.462 billion, following its prepayment of equivalent $1.5 billion three years ago. Total proceeds from TransCo’s privatization was pegged at $6.383 billion and of that, $3.921 billion had already been paid by the Sy-led concessionaire firm. For divested generating assets and decommissioned plants, there had already been full payments of $3.547 billion and $4.0 million, respectively. PSALM stressed that of the $9.813 billion worth of proceeds already utilized, “$9.709 billion or 98.94 percent was used for the liquidation of financial obligations.” It a d d e d t h a t “t h e difference between the total amount collected and total utilization in the amount of $0.718 billion is placed in temporary investments while awaiting utilization.” As of mid-2016, PSALM debt prepayments had been placed at $1.298 billion; regular debt service at $5.783 billion; and lease obligations for build-operate-transfer (BOT) contracts at $2.628
billion; while its privatizationrelated expenses totaled $104 million; and allotment for operating expenses of TransCo at $1.0 million.
billion in loans payable and P546 million in notes payable, the company’s unaudited financial statement for the third quarter showed.
from page 2
from page 5
BFAR...
Idris s aid t hat aside from the law enforcement agencies like the Maritime Police, barangay officials are also mandated by law to impose this law on the residents for compliance. ( P IA 1 1 - J o e y S e m G . Dalumpines)
Raffle... from page 2
Members who would want to earn prizes from the raffle promo will still have a chance since the grand raffle will be held on May 1, 2017 with P1M grand prize at stake. To join the raf f le, a me mb e r on ly ne e ds to remit the required monthly membership savings of at least P600. The member must also go to the Pag-IBIG website at www.pagibigfund. gov.ph and click the “PagIBIG Expanded Raffle Promo” icon and enter his or her Pag-IBIG membership identification number and required information.(RTP/ PIA10)
Hurst... from page 4
asked. Or, you can help them if they’ll take care of the job or errand you won’t be able to do because you’re helping them. Often, people will still be thankful for your help. So have you been stressed because you’re always saying yes? You realize you’re giving too much time and energy to helping everyone who asks you for a favor or help, and your family’s been hurting since you’re neglecting your responsibilities to them. Just ask Jesus Christ to forgive you. Jesus will help you learn how to wisely choose when to say yes and when to say no. Just Think a Minute…
Vista... from page 5
earnings before interest, taxes, depreciation and amortization (EBITDA) by end-2017. In the first nine months, the property developer booked an 11% year-onyear increase in net income to P6.4 billion from P5.8 billion, following an 8% rise in consolidated revenues to P24 billion from P22.3 billion. Vista Land attributed the improvement mainly to the 67% surge in rental income to P3.1 billion from P1.9 billion, following the expansion of its leasable portfolio. In the nine months to September, the company sourced 23% of its EBITDA from the recurring business. The s egment’s share is expected to reach 25% toward the yearend, with the malls generating three-fourths of the contribution. Vista Land had about P21.22 billion in current liabilities as of end-September. The amount included P3.37 billion in bank loans, P1.08
Pension...
their options,” he argued. “It is also not unfair to future pensioners because the P2,000 pension hike bill and the subsequent Joint Resolution No. 10 states that through this legislation the base of the S S S p e n s i on w ou l d b e raised so all pensioners from now on would enjoy higher pension,” added the Davao-based solon. Duterte said the only thing needed for the SSS pension increase to b e i mpl e m e nt e d i s h i s signature, but added he wants to discuss the matter to be “fair” to everybody. Pe r n i a , D o m i n g u e z and Diokno claimed that without an accompanying SSS premium increase, the prop os e d p ension hi ke would supposedly unduly jack up the unfunded liabilities of the SSS from P3.5 trillion to P5.9 trillion.
Market... from page 7
a relatively healthy capital raising number, considering most of these activities happened during the second
half of the year. This is a testament to the strength of the local economy,” PSE president and CEO Hans B. Sicat said. The PSE said it is preparing to launch the Dollar Denominated Securities and the listing of Public-Private Partnership companies in 2017 following the approval of the rules for both products in late 2016. “ We a re p l e a s e d t o add two new products to the list of capital raising instruments available at the PSE. These products should help facilitate additional listing activity and investor participation in the market,” Sicat said. In terms of other market indices, the All Shares Index finished the year with a gain of 4.1 percent to 4,156.07 while the Mining and Oil index was the best performing sectoral index as it gained 13.7 percent in 2016. “We believe there will be a healthy pipeline of Initial Public Offerings and other fund raising activities in 2017. We will continue to work with our regulators so we can continue to introduce new products for our market in 2017 as we have successfully done so this year,” Sicat said. D ai ly ave r age v a lu e turnover for the year came in at P7.81 billion, down from last year’s P8.96 billion.
Republic of the Philippines Province of Misamis Oriental Municipality of Naawan OFFICE OF THE MUNICIPAL CIVIL REGISTRAR Publication Notice RA 10172 NOTICE TO THE PUBLIC In compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-01, Guidelines in the Implementation of the Administrative Order No. 1, Series of 2013 (IRR of RA 10172), Notice is hereby served to the PUBLIC that KENETHCHI L. PAGALAN has filed with this Office a petition for correction of clerical error in the entry of sex from ‘’FEMALE’’ to ‘’MALE’’ in the Certificate of Live Birth of KENETHCHI L. PAGALAN who was born on April 7, 1980 at Naawan, Misamis Oriental and whose parents are ELVIS P. PAGALAN and ELMA E. LAGROSAS. Any person adversely affected by said petition may file his written opposition within this office not later than January, 2017. BWM: Jan. 4 & 11, 2017
(Sgd.) MARLON S. DACOCO Municipal Civil Registrar
Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL Cagayan de Oro City NOTICE FOR PUBLICATION In compliance with Section 5 of R.A. No. 10172, a NOTICE is hereby served to the public that JENEFER T. GRAMATICA has filed with this Office a petition for the correction of clerical error in the entry of the child’s sex from ‘’FEMALE’’ to ‘’MALE’’ in the Certificate of Live Birth of JUSTINE TAGAAN GRAMATICA who was born on OCTOBER 18, 2005 in CAGAYAN DE ORO CITY and whose parents are PACITO HALAPADAN GRAMATICA and JENEFER AUDITOR TAGAAN. Any person adversely affected by said petition may file his written opposition with this Office not later than December 30, 2016. BWM: Dec. 28 & Jan. 4, 2017
(Sgd.) NORMA S. DIPUTADO City Civil Registrar
12
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
wednesday|january 4, 2017