BusinessWeek Mindanao (July 3, 2017)

BusinessWeek MINDANAO

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Volume VIII, No. 11

Market Indicators As of 5:07 pm June 30, 2017 (friday)

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Cleared THE Department of Justice (DOJ) has dismissed rebellion charges filed against employees of the United Coconut Planters Bank (UCPB) who were arrested by Philippine Coast Guard (PCG) for transporting a case containing PHP32.8million in cash on board a ship in Cagayan de Oro port bound for Cebu last week.

In a seven-page resolution released on Thursday, the Cagayan De Oro prosecutor’s office junked for insufficiency of evidence the rebellion charges against the UCPB employees namely Rhodelle A. Nagac and Rolando C. Limbo Jr., teller and operations manager at Velez Branch in Cagayan De Oro City; Leonilo B. Enterina, Reynaldo Puyos and Rolly Cervantes Estribor, all UCPB security guards and Ma. Cecilia Lim, UCPB Velez Branch Manager.

“Guided by the time honored doctrine of the presumption of innocence, under our regime even in times of martial law, we cannot exalt order at the expense of liberty,” read the resolution.

Top rice producer TUBOD, Lanao del Norte — The Department of Agriculture (DA) recognizes Lanao del Norte as one of the Top Seven Outstanding Provinces in the country’s rice production.

Other Top Rice Producer awardees include the provinces of La Union, Pangasinan, Nueva Viscaya, Bulacan, Nueva Ecija, and Compostela Valley.

On May this year, the Province of Lanao del Norte received the 2016 Rice Achiever’s Awards at the Philippine International Convention Center in Pasay City.

The Rice Achiever’s Award aims to recognize the contribution of highly performing provinces, municipalities/cities, irrigators’ associations, small water impounding system, and agricultural extension workers in the national food self-sufficiency program.

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RDC-X chair Zubiri delivers State of the Region Address

By PELETA B. ABEJO, Contributor

NORTHERN Mindanao Regional Development Council (RDC-X) Chair and Bukidnon Governor Jose Maria R. Zubiri, Jr. delivered the 2017 State of the Region Address during the 111th Full Council meeting held last week at the Pearlmont Inn, Cagayan de Oro City.

“The performance of the region over the past year has been remarkable,” Gov. Zubiri said.

Zubiri cited the

robust performance of the economy in 2016 which grew by 7.6 percent, faster than the 5.7 percent growth recorded in 2015 and better than the growth target of 6.1 percent for 2016. This was driven by the robust performance of the industry and services sectors – an indication that the region has positioned towards becoming an industrial core and trade center in the South. zubiri/PAGE 11

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By MYRNA M. VELASCO, Contributor

HE ‘real action’ had been on the launch of the Wholesale Electricity Spot Market (WESM) in Mindanao, but torrents of discussion in the power industry had been on the forthcoming changes in the board composition of the Philippine Electricity Market Corporation.

PEMC is the spot market operator and structural as well as personality changes at its board have been widely anticipated following the call made months back by Energy Secretary and PEM Board Chairman Alfonso G. Cusi on the previous board’s “courtesy resignations.”

Industry players, who are also generally WESM trading participants, have

Zubiri

Marawi rehab won’t be like ‘Yolanda’, says Sec. Villar

been speculating that the new PEM Board will be announced in the Davao event, although as of press time, that has yet to turn up positive.

Sources from the Department of Energy (DOE) indicated that the list for the new PEM Board has already been firmed up and is now just awaiting formal board/PAGE 11

By ANTONIO L. COLINA IV, MindaNews

DAVAO City -- The government won’t repeat in Marawi City the mistakes of the past administration in handling the rehabilitation program for areas hit by super typhoon Yolanda in 2013, Public Works secretary Mark Villar.

Villar, in a press briefing in Malacañan Palace Thursday said the rehabilitation plan for Marawi will be more sensitive to the needs of the affected residents.

He said rehabilitation will start right after the fighting between

government troops and Maute Group ends.

“Well the President is very clear on this and he was… He expresses his disappointments in the facilities for Yolanda before and definitely hindi na po mauulit iyong nangyari (definitely, it will not happen again),” he said.

He assured a resettlement site should be near a water source and electricity.

Villar said the government is rehab/PAGE 10

BUSINESS AS USUAL. It’s business as usual for people in Saguiaran, Lanao del Sur even as clashes between government forces and the Maute Group continue to rage in nearby Marawi City. mindanews photo by h. marcos c. mordeno

Tagulambong Festival highlights Magsaysay’s 69th anniversary

By CHRIS V. PANGANIBAN, Contributing Editor

GENERATION GAP. An elderly man manually puts on final touches of his newly-built boat while a boy on board busy playing a game on a cellphone in Tandag, Surigao del Sur. photo by jun ayensa

M AG S AYS AY, Mis amis Oriental--- Townsfolk here celebrated its first ever “Tagulambong Festival”, a six-day festivities from June 26 to July 1 to showcase the rich cultural heritage and to mark with pride the town’s 69th founding anniversary.

Guests and visitors will be entertained with an array of special activities including an opening day motorcade, tribal street dancing competition, authentic Higaonon rituals, sporting events, rescue olympics, agro-industrial, booth display and the second

State-of-the-Municipality Address of Mayor R e y Buhisan.

Magsaysay , formerly known as Linugos acquired its current name in 1957 through a congressional act and was formally created as a municipality of Misamis Oriental in July 1, 1948. festival/PAGE 11

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Economy

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monday|july 3, 2017

Marawi Crisis: NorMin underscores seafarers Displaced Maranaos role in economic development lead their own response

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O increase awareness among the general public of the indisp ensable ser v ices the seafarers rendered to international seaport trade, the world economy and the society at large, the Maritime Industr y Authority (MARINA)-10 along with the Philippine Po r t s Au t h o r i t y - Po r t Management Office (PPAPMO)-10 and Philippine Coast Guard (PCG)-10 leads the Day of the Seafarer celebration with the theme, “Seafarers Matter,” on June 25 at PPA Passenger Terminal.

To recognize the seafarers and their efforts in helping

the economy, MARINA-10 Regional Director Felisa Orongan said that it is the obligation of the government as well as the private shipping companies to let everybody know that seafarers matter.

Hence, every 25th day of June, MARINA along with the other national line agencies set lineup of activities to make the day special.

Orongan also shared that this international celebration should be regularly observed in the country noting that the Philippines is named as the number one supplier of seafarers in the world.

For his part, Coast Guard District Commander Capt Leovigildo Panopio said that

the seafarers remarkably mobilize the world economy as they play a great role in transporting about 90 percent of food, gasoline and other products of various industries.

“Halos lahat ng bagay inililipat sa pamamagitan ang sasakyang pandagat at isinasakripisyo ng mga marino ang kanilang buhay (Almost all of the products are transported through sea vessels and the seafarers sacrifice their lives for it),” Panopio said.

He also shared that by protecting the goods and ensuring their deliver y, seafarers suffer from being away from their families;

missing out on most important occasions of the family just to do their responsibilities at work.

PPA-PMO 10 Manager Engr Isidro Butaslac affirms such deeds of seafarers and stressed that the celebration is “meant to send a clear message to seafarers that we recognize and appreciate their services that we understand the extraordinary conditions and circumstances of their profession and that we do care about them.”

To foster the welfare of the seafarers, Butaslac said that at the regulatory level, they will work hard seafarers/PAGE 10

ILIGAN City -- More than 20 self-help groups (SHGs) of 400 internally displaced families who are currently taking refuge in Upper Hinaplanon, Iligan City craft their own proposals for the micro-grant that Ecosystems Work for Essential Benefits (EcoWEB) Inc. will be providing to help address their immediate needs.

The s e b a kw it s, w ho fled from armed conflict in Marawi, will lead their own response.

The micro-cash assistance will be made possible through the support of Christian Aid. T h e p r e p a r at i o n o f proposals was assisted by

volunteers from other partner civil society organizations and community leaders trained

by EcoWEB and Local to Global Protection (L2GP) to integrate Survivor-led Response to Crisis (SLR) approach in disaster management. Proposals prepared by the SHGs are contextualized on identified needs of displaced families who are clustered according to their places of origin and sectoral groups.

Needs identified included food and non-food items such as hygiene kits, kitchen utensils, diapers for babies, mats, and others. response/PAGE 10

RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide 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

Department of Agriculture (DA) and Bureau of Fisheries and Aquatic Resources (BFAR) Region 10 turn over 1,120 ready-to-eat canned food and 350 packs food support (24 cans of sardines per pack) to Police Regional Office-10 in support to the PNP combatants currently deployed in Marawi City. (PRO10)

CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

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3

CorporateWorld

Del Monte earnings down 57% on impact of one-offs

D

EL Monte Pacific Ltd. said earnings fell 57% in the year to April, after one-time gains in the year earlier set a high comparative base.

In a disclosure to the stock exchange on Friday, the company reported a net profit of $24.4 million, well off the year-earlier result of $57 million.

It said it incurred nonrecurring writeoffs of $21.1

million after the closure of its North Carolina plant and a deferred tax write-off.

Del Monte also posted a net one-time gain of $31.7 million in the year to April 2016 from the amendment of the retirement plan of its US subsidiary Del Monte Foods, Inc. and the adjustment of working capital during the period for the North Carolina plant.

Excluding these one-

off items, Del Monte said recurring profit was $45.5 million, which would have represented an 80% rise year-on-year.

Sales amounted to $2.3 billion, down 0.9% due to lower sales volumes recorded in the United States. The weak US performance was offset by robust sales in Asia, including the Philippines.

“O ur business in Asia sustaines its strong

momentum in the fourth quarter driven by S&W’s significant growth in North Asia and higher food service sales in the Philippines,” DMPL Managing Director and Chief Executive Officer Joselito D. Campos, Jr. was quoted as saying in a statement.

The executive noted that this was also driven by the implementation of an e-commerce channel

in China through JD.com.

DMPL also opened a branch in Tokyo, while eyeing the opening of stores in Shanghai and Seoul.

“Investments in new products and brand-building will continue in response to consumer demand and to secure a long term growing and profitable business. As a result, profitability in the US is likely to be impacted,” Mr. Campos said.

The company said it looks to book a profit in the current fiscal year but it did not provide a detailed estimate.

In April, the company raised around $200 million through the sale of dollardenominated prefer red shares -- the first of their kind in the Philippines.

Net proceeds were used to refinance the firm’s $350 million loan from BDO Unibank, Inc.

Industry pushes bill to back electric, hybrid vehicles Nestle joins Globe’s Project 1 Phone T H E E l e c t r i c Ve h i c l e Association of the Philippines ( E VA P ) p u s h e s f o r a legislation to support the growth of electric and hybrid vehicles in the country.

During a press conference of the 1st ASEAN Electric and Hybrid Vehicles Summit at the World Trade Center Thursday, EVAP President

Rommel Juan s aid t he industry would lobby for the passing of electric and hybrid vehicle bill in Congress.

Ju a n n o t e d t h a t a legislation providing tax perks to the industry would attract more electric and hybrid vehicle manufacturers here and promote the use of these eco-friendly vehicles

in the country.

Aside from manufacturing, establishing infrastructures supporting electric and hybrid vehicles like charging station should be encouraged by the government.

Trade Assistant Secretary Rafaelita Aldaba added that the use of electric and hybrid vehicles would help

the country in adhering to its commitment to the Paris Climate Agreement.

Aldaba said the g o v e r n m e nt h a d b e e n supportive of the industry.

For instance, the Board of Investments provide six-year fiscal incentive and dutyfree importation of capital vehicles/PAGE 10

AS part of its environmental sustainability program, Nestle’ Philippines has joined Globe Telecom’s Project 1 Phone electronic waste recycling initiative which promotes proper disposal of broken and discarded electrical and electronic devices such as mobile phones, tablets, computers, printers, among

others.

Nestle and Globe signed a Memorandum of Agreement recently in response to the P1P campaign spearheaded

by Globe Business among its corporate clients to encourage donations of individual and company e-waste. Initially, Nestle agreed to distribute nestle/PAGE 10

Ororama to hold second quarter raffle draw ORORAMA will once again hold t he s e cond quarter raff le draw for Bonggang Papremyo Para sa Iyo Year 2 this Saturday, July 8.

Hurry and get a chance to win five gift certificates worth P20,000 and 43 gift

certificates worth P2,000 as well as a slot for the October 14 grand draw.

For every P200 single-receipt purchase of sp ons ors’ pro duc ts, customer gets two raffle coupons. Or for every P300 single-receipt purchase

from Grocer y Fresh Department or Department Store, customer gets one raffle coupon.

The participating products are the following: Nescafe Classic, Nescafe Blend & Brew, Bear Brand, Nido, Nesfruta, Sunsilk,

Surf, Pampers, Downy, Uni-care, Johnson’s baby p o w d e r, L u c k y M e ! , Purefoods Tender Juicy, Purefoods Star Corned B e ef, C olgate, Wi lkins Pure, Magic Flakes, Fit ‘n Right and Gatorade. mark francisco

ASUS opens concept store in CDO A

Story by MARK FRANCISCO | Photos by ERCEL MAANDIG

SUS opens another concept store in Cagayan de Oro City together with Graphic, the leading communications s o luti on s prov i d er i n Northern Mindanao, this time at SM CDO Downtown Premier.

Located at Cyberzone in the second level of SM CDO Downtown Premier, the ASUS Concept Store will focus on the following HERO products: Zenbook 3 Deluxe, Zenbook Flip, Zenbook Pro, Zenfone 3 Zoom, ZenfoneAR, Zenfone Live, ROG GX800, ROG GX501 and ASUS FX Series.

Those are all exciting p ro d u c t s t h at w i l l b e available. But did you know that ASUS takes its name from Pegasus, the winged horse in Greek mythology that symbolizes wisdom and knowledge. Innovation is key to the success of ASUS. Moreover, ASUS also s t a r t e d it s b u s i n e s s a motherboard brand and now has become a technology giant covering a business line starting from notebooks, smartphones, gaming notebooks, routers, monitors, graphic cards, all-in-one PC and commercial products just to name a few.

Sp e a king of gaming notebooks, ASUS Republic of Gamers (ROG) just launched a few weeks ago the ROG Masters 2017 Philippine qualifiers for Counter Strike: Global Offensive and DOTA 2. In last year’s global finals, we have witnessed our very own Filipino professional te ams (E xe crat ion and Mineski) compete against Europe’s finest Team Secret.

We a r e e x c i t e d o n what will happen to this tournament and how our local pride professional teams will compete and put the Philippine map in the global stage.

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Opinion

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What Do You Really Believe?

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

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Problems means progress Think a minute…What’s your problem? You know that not all problems are bad? In fact, having problems sometimes means you’re making progress.

A big hardware business moved into the same building with another, small hardware store. The big hardware competitor posted signs all over the building that read: “Grand Opening.” So not to be beat, the owner of the small hardware business posted a big sign over his store that read: “Main Entrance.” It’s successful people who know that their biggest obstacles often become their biggest opportunities. As one smart man said: “The same big stone that’s an obstacle to a weak person is a steppingstone to success for a stronger person.”

The difference is in their attitude and response.

Remember, you are not the only person with problems.

Even the lion has to fight off flies! So “Don’t be afraid to face the music just because you don’t like the tune.”

Many years ago, American farmers carried their potatoes in wagons to the market.

As their wagons bounced along on the rough, bumpy roads, the big potatoes were always the ones that ended up on top. And it’s usually the same with people. It’s the

THINK

A Minute

Jhan Tiafau Hurst people with bigger hearts of faith and perseverance who end up on top, after getting over their life’s bumps and problems.

There’s a saying: “What doesn’t kill you makes you stronger.” Yes, problems may detour you and take you off course for a little while, but only you can choose to stop moving ahead. Sometimes we think that our temporary problems are permanent.

But if you stay patient and positive, then the end of your problem will become the beginning of your new season of success. So why not ask Jesus Christ to take charge of your heart every day. It’s only with Him on your side, and His peace and power in your life, that you can turn every problem into progress.

Just Think a Minute…

“But that no man is justified by the law in the sight of God, it is evident: for, The just shall live by faith.” Galatians 3:11 Here’s the story; a man wakes up to an awesome day.

He is ready for work and he is decided that the day will be amazing! Little did he know that his officemates have prepared a prank for him. All throughout the day at work, everyone he meets, tells him that something was not right with him. They even threw in the idea that he looked sick and he may need to see a doctor. Surely, he was convinced that he was feeling great and he was doing more than fine. But as the day stretched on with the same greetings “are you okay?”, “you look sick”, “you

should see the doctor” – he was beginning to believe that there was really something wrong. At the end of the day, he began feeling symptoms that were not there earlier and he decides that he is sick and he needs to see a doctor.

We are like the man who wakes up to an awesome day. As we wake up, we are convinced that GOD will be victorious through us in the course of the day. Then something happens; we hear a bad news, we encounter something unpleasant, the list goes on. If our faith is not firm on the promise that GOD will work through us, we can easily be defeated by whatever circumstance put before us. When we doubt, this means we don’t believe GOD enough.

This may be painful to realize, but if we are not sure of what we believe in, it’s like having no faith at all. Having no faith is sin.

It is evil. It is disobedience.

OUCH. Hebrews 3:11-12 “See to it, brothers and sisters, that none of you has a sinful, unbelieving heart that turns away from the living God.” BUT, GOD always meets our need and this is the solution, “…encourage one another daily, as long as it is called “Today,” so that none of you may be hardened by sin’s deceitfulness.”

So even when bad things happen, what matters most is what we believe in. Not what went wrong. Not what we did wrong. JESUS is proof of the living GOD. His time here on Earth was documented in the

The Ripple

By AMBongay

bible – and these stories tell us a constant and consistent idea on faith. Our belief is so powerful, it can change us; what we constantly hear, becomes what we believe in.

What we believe in, becomes who we are.

This is an excerpt from a preaching by Ptr. Ron Bayron.

The Debilitating BBC Interview of Trillanes Digs the Grave for Nuisance Parties President Rodrigo Duterte now seems the apple o f d i s c o r d , s u c h t h at opposers of his regime are using internationallyaired interviews, hoping to damage the populist leader.

I am referring to what senators Risa Hontiveros and Antonio Trillanes, did recently. Trillanes’ interview wit h Stephen Sackurin “Hardtalk” aired by BBC solidified what nuisance personalities, representing defeated political parties, are really after—and that, obviously, is not for the country’s well-being.

The interview is already like wildfire in the social me dia b e caus e of how someone blew himself up with self-destructive answers and how it turned the table in favor of the president he is trying to vilify. When asked about the finance minister’s point associating the Maute terrorists with drug crime, senator Trillanes retorted that it could be true, but said how come Duterte’s administration did not

touch big-time drug lords.

Fact check: senator Leila De Lima went to jail and a court just ordered another warrant of arrest for her involvement with drugs substantiated by her driver and other witnesses. It is hard to conclude that it was merely a political persecution.

Espinosa was put behind bars. Multi-million worth of drugs are confiscated almost everywhere and those behind have been imprisoned: are they just small-time street drug agents?

Su c ku r t h e n a s k e d , “Isn’t it that the Filipinos elected Duterte because they wanted a tough guy who can impose order...that is why Duterte was voted in to deal with it?” Trillanes retorted that Duterte created his own crisis and refuted the statement, saying only 27% of the barangays sink with drugs and only 1.8 percent of the population are affected compared to 5 percent in the global scene. He said that drugs should be addressed, but it is not the only problem

in our country. Truth check: more than 27 percent of the barangays are infested with drugs; there are more than 2 million drug addicts reported by PDEA. They are not sheer numbers because how would the government deal with such number of zombies walking around ready to slash someone’s neck without reason? We are not just dealing with kids turning astray; we are dealing with monsters. Is Trillanes promoting what his financiers are tr ying to do in the previous administration— ignoring a pandemic? It is not Duterte who created a drug crisis—it is very clear—they are Trillanes’ backers and other presidents in the past who ignored drugs because it is where they get funding to win elections. Now that these men lose their gravy in the government—or can no longer make money using their influence in business deals—they are helplessly finding ways to bring a good leader down.

In the interview, Suckur

lucell larawan quoted Duterte’s platform during the election campaign that if Duterte will make it to the presidency, he will do what he did in Davao: dump the drug pushers, hold-up men and do-nothings and fatten the fish at Manila Bay. Trillanes retorted: “Yes, but during the campaign, the public just thought that this is just a rhetoric to make the campaign sp eeches more dramatic…” We ask: have we not felt the result of D ut e r t e’s ant i - d r u g campaign? Is Trillanes and his financiers now afraid Larawan/PAGE 10

Changing of the guard On its 24th anniversary today, the Bangko Sentral ng Pilipinas (BSP) will witness a changing of the guard.

Governor Amando M. Tetangco, Jr., who has held the helm of the venerable institution for the last 12 years, will be bowing out of the public service.

He will be succeeded as Governor and Chair of the Monetary Board by Nestor A. Espenilla, Jr., who has held the position of Deputy Governor for Supervision and Examination.

Espenilla will be joined in the incoming Monetary Board by Peter B. Favila, Antonio Abacan, Jr., Felipe M. Medalla and incumbents Juan D. de Zuñiga, Jr. Valentin A. Araneta, and Carlos G. Dominguez III. Alfredo C. Antonio and Armando L. Suratos, are bowing out after

completing their respective terms.

Espenilla acknowledges that his mentor will be leaving behind a legacy of excellence, a fact which bankers in the local and international communities widely acknowledge.

Espenilla rightly gives his predecessor credit for spearheading the formulation of sound macro-economic policies, which provided a solid foundation for the country’s unprecedented growth, and also for strengthening the banking system.

“We have strengthened governance and risk management st and ards as benchmarks for good banking,” he told the Bankers Association of the Philippines (BAP) recently.

“We have adopted global

reforms and standards and made sure these are in tune with our own domestic needs and requirements.”

Espenilla adds that the financial system’s resiliency is evidenced by the following: 1. stronger balance sheets of banks with steady growths in assets, loans, deposits and capital.

2. the perceived ability of banks to absorb shocks and contain imbalances, both at the firm and the industry levels.

Espenilla said that while he is delighted to succeed Tetangco, “I know I have very big shoes to fill…. The standard is set so high.”

But obser vers in the banking community believe that Espenilla has no cause to be daunted. He has, after all, been part of the team which made things happen at the

SPEAKING

O ut

Ignacio Bunye BSP. Furthermore, his own credentials and experience are rock solid.

Asked by media what to expect during his s t e w ard s h ip, E s p e n i l l a replied: “Continuity, plus, plus.”

Just exactly what he meant, he laid out before the BAP: “Under my watch, the Bunye/PAGE 9

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Lower VAT rate possible if gov’t succeeds in plugging tax leakages A LOWER value-added tax (VAT) rate on goods and services -- now pegged at 12 percent -- is possible once the government is able to clean up the tax system and plug leakages arising from the myriad of exemptions from this consumption tax, according to the Department of Finance (DOF).

DOF Undersecretary Karl Kendrick Chua said Thailand, which has a VAT of 7 percent, collects the same amount of revenues from this tax as the Philippines does despite its lower rate because of fewer exemptions.

Thailand, he said, has only 35 lines of exemptions while the Philippines has 59 lines of exemptions in the tax code and 84 special laws with VAT exemptions.

The revenue share as a percentage of Gross Domestic Product (GDP) from the VAT is the same at 4.2 percent for both the Philippines and Thailand despite the former’s higher tax rate, he added.

“Our proposal really is to clean up the VAT system. Over time, once we have addressed the exemptions, we may reduce the VAT rate. We will do it step by step,” Chua said at a recent Senate hearing of the ways and means committee on the DOF’s proposed Comprehensive Tax Reform Program (CTRP).

“Our strong belief is that the moment we have exemptions and a multitude of exemptions, it multiplies the opportunity for discretion, and therefore corruption and tax evasion,” Chua said.

Chua said that because Thailand has already done the basics of making its tax system simpler, fairer and more efficient, it can afford to provide its citizens lower tax rates, and

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Banking&Finance

corporate investors the tax incentives that would entice them to relocate there.

“Thailand can afford this because it has done the basics many years ago but we have not,” said Chua.

“We have a dual system, we have high tax rates for half of the population and half of the population pay very little [because] of incentives, exemptions. So our tax system really is very inequitable in that sense. What we want to do as with the VAT is really to broaden the base so that it is fairer to everyone,” Chua added.

Chua said that even with the fiscal incentives given by the government to private businesses, the Philippines remains behind Thailand in terms of per capital gross national income because the fundamentals—good governance, adequate infrastructure, public service efficiency—remain lacking.

“And that is I think, very linked to the fact that as of today, we have only collected 13.8 percent of our GDP in taxes while in Thailand, its 17 percent,” he said.

The House of Representatives approv e d Ta x R e f or m Acceleration and Inclusion Act (TRAIN) or HB 5636—by a 246-9 vote with one abstention last May 31 before the Congress’ sine die adjournment.

This bill, which had consolidated the DOF’s original proposal—HB 4774—with 54 other tax-related measures, seeks to make the country’s tax system simpler, fairer and more efficient by slashing personal income tax rates and, to fill up the consequent revenue loss, by adjusting excise taxes on certain products and broadening the VAT base.

BSP sees June ’17 inflation to range between 2.4, 3.2%

R

ISKS from fuel prices and electricity rates are seen to be lower in June 2017, thus, the Bangko Sentral ng Pilipinas’ (BSP) projects inflation for the month to stay within 2.4-3.2 percent.

In a text message to reporters Friday, outgoing BSP Governor Amando M. Tetangco Jr. said the drop in domestic oil prices along with the same trend for electricity rates in areas being serviced by the Manila

Electric Company (Meralco) “could lead to lower price pressures for the month.”

“Moving forward, the BSP will continue to monitor evolving price conditions and adjust policy setting appropriately to ensure price stability conducive to balanced and sustained e c o n o m i c g r o w t h ,” h e added.

In the first five months of the year, rate of price increases averaged at 3.1 p ercent, slig ht ly ab ove

the mid-point of the government’s two to four percent target for this year until 2020.

Last May alone, inflation decelerated to 3.1 percent after hitting 3.4 percent in the previous two months.

During the rate setting meet of the BSP’s policymaking Monetary Board (MB) last June 22, the Board slashed the central bank’s average inflation forecast for this year to 3.1 percent from 3.4 percent on account

of the expected lower path o f i n f l at i o n , i n f l at i o n expectations that remain in-line with the target, robust domestic economic growth, liquidity and credit conditions that remain supportive of growth, and improving global economic prospects.

The three percent average inflation forecast for 2018 was maintained while the 2019 forecast has been set at three percent.

(Joann Santiago/PNA)

DOF bares new Monetary Board members THE Bangko Sentral ng Pilipinas’ (BSP) polic ymaking Monetary Board (MB) will have two new members while the term of current MB member and former Socioeconomic Planning Secretary Felipe Medalla has been extended for another six years.

Finance Secretary C arl o s D om i ng u e z I I I , in a statement Thursday, s aid President Ro dr igo R . D ut e r t e h a s n a m e d former Trade and Industry S e c re t a r y Pe t e r Fav i l a and banker Dr. Antonio S. Abacan Jr. as new MB members.

He s aid Ab acan and Fav i l a w i l l repl ace MB members Armando Suratos a n d A l f r e d o A n t o n i o, former Development Bank of the Philippines (DBP) chair, whose terms will end on July 3, same as that of outgoing BSP Governor Amando M. Tetangco Jr, who served two six-year terms.

The MB, chaired by the BSP Governor, is composed of seven members.

The current MB members are Dominguez, Juan De Zuniga Jr., former BSP Assistant Governor and General Counsel; a n d Va l e nt i n A r a n e t a , former Philippine Deposit Insurance Corp. (PDIC) President.

Medalla graduated from D e L a Sa l le Universit y (DLSU) with a degree in Economics and Accounting.

He finished his masteral degree in Economics in the University of the Philippines (UP) and Doctorate in Economics from Northwestern University.

Among the positions he has held are DirectorGeneral of the National Economic and Development Authority (NEDA) from July 1998 to January 2001, dean of the University of the Philippines’ (UP) School of Economics, Director

Junior golfers 11-year-old Kiara Therese Montebon and ten-year-old Matthew Miguel Fabiala will be representing the Philippines in San Diego and Las Vegas next month for the following tournaments: FCG International Junior Golf Championship, FCG World Putting Championship, IMG Academy Junior World Championship and World Stars of Junior Golf Championship. Montebon and Fabiala have been juggling school and training for the past two years as they pursue their dream to play in the United States. Both study in Abba’s Orchard School, La Granja campus. photos supplied

of Philippine National Oil Corporation-Exploration Corporation (PNOC-EC) and independent director of the Metro Pacific Tollways Corp. (MPTC).

Me d a l l a’s l at e s t M B appointment is his second term after his stint from 2008 to 2014.

Favilla, in turn, graduated from the University of Santo Tomas (UST) with a degree in Bachelor of Science in C ommerce Maj or in Banking and Finance and a graduate of the Advanced Management Program of the Wharton School, University of Pennsylvania.

As i d e f rom t h e M B post, the former DTI chief served as president of Allied Banking Corp. a n d p r e s i d e nt - C E O o f Philippine National Bank (PNB), consultant to the BSP and CDC Holdings Inc. and was chairmanpresident of the Philippine Stock Exchange from 2001 to 2005.

Ab a c an , m e anw h i l e , finished his Bachelor of Science degree in Business Ad m i n i s t r at i on , m aj or in Banking and Finance from the Mapua Institute o f Te c h n o l o g y a n d i n Accounting from the Far bares/PAGE 8

SSS formally opens its newly-relocated branch in Capiz

The Social Security System (SSS) formally opened its newly-relocated branch office in Roxas City on June 28, 2017, serving about 2,450 employers and more than 33,500 members and pensioners in 578 barangays.

“As the provincial capital of Capiz, I think it is our job to create bigger branches to accommodate the increasing number of SSS members and employers in Western Visayas,” SSS President and Chief Executive Officer Emmanuel F. Dooc said.

The recently-upgraded br an ch of f i c e i s n ow located at the ground floor of CityMall Roxas along Arnaldo Boulevard.

Meanwhile, SSS has also established a service office (SO) in Robinson’s Place Roxas, which is also under SSS Roxas branch.

Among the full-range of services offered by SSS Roxas are issuance of social security (SS) number ; receipt and processing of member and employer data change request; receipt and processing of benefit claims and salary loans; receipt and processing of E-R3 and E-ML2; receipt of web registration and resetting of account; and receipt and processing of Annual Confirmation of Pensioners (ACOP).

With an average of 983 transactions per day, SSS Roxas created additional facilities such as Unified Multi-Purpose Identification (UMID) Card capture, E-center, tellering facility, medical evaluation and bayad enter.

“Results of our customer satisfaction surveys suggest that SSS has to further improve our facilities and services in Visayas branches.

That’s why the current management does not only focus on the branch premises and facilities but also on the timeliness of service and better staff accommodation,” Dooc added.

The for mal branch blessing and inauguration of SSS Roxas branch is part of the PCEO’s Regional Visit to Iloilo and Roxas from June 27 to 29, 2017. Other activities include branch visit and employees’ forum.

In a related news, SSS Roxas branch is under the Western Visayas Group 2 which also includes Antique, Iloilo Central, Iloilo-Molo, and Kalibo. As of first quarter of 2017, the Western Visayas Group 2 had total collection contributions of P388.83 million, which is higher by 27 percent from the P320.02 million total from the same period last year.

6

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Uniqlo opens at SM CDO Downtown Premier Photo by MARK FRANCISCO

J

APANESE global casual apparel retailer Uniqlo further expands its offering in the Philippines with the opening of its store in Cagayan de Oro, the third locationin Mindanao.

Located at SM CDO Downtown Premier, the store will be the 40th Uniqlo location in the Philippines. It is also the third store in Mindanao following the recent openings in SM Lanang Premier aNd SM City Davao. The new store adds 1,018 square meters of new shopping space, bringing the Uniqlo LifeWear shopping experience to even more customers in the island.

Uniqlo is known around the world for its LifeWear – innovative high quality clothing that is universal in design and comfort and made for everyone, everywhere.

Through LifeWear, Uniqlo constantly develops technologies and fabrics to bring more warmth, more lightness, better design and better comfort to people’s lives.

“We are thrilled to open our 40th store at SM CDO Downtown Premier. Mindanao is an important region for us and the new store provides us with the opportunity to bring the Uniqlo LifeWear experience to more Filipinos,” Uniqlo Philippines general manager Geraldine Sia said.

As with other Uniqlo stores around the Philippines, the store in Cagayan de Oro showcases a full and colourful lineup of Uniqlo LifeWear essential for men, women, kids and babies. The lineup includes Uniqlo shirts, pants, dresses, proprietary clothing technology products such as AIRism, Heattech, Uniqlo Sport as well as the Hana Tajimo, Uniqlo’s collection of modest wear. PR

DOE Backs E-Vehicles Development Electric vehicles (EV) are the future of motoring and the Department of Energy (DOE) under Secretary Alfonso Cusi has assured industry stakeholders of its full support for the continued development of EVs or e-vehicles in the country.

With Assistant Secretary Leonido Pulido III speaking on behalf of Cusi, the DOE made the assurance during the ASEAN Electric and Hybrid Vehicle Summit at the World Trade Center in

Pasay City.

“Through a concerted effort, we have to develop a conducive, open-access and non-discriminatory environment for EVs to thrive and settle into the mainstream,” said Pulido.

The DOE official stressed that the industry must ensure the operation of adequate recharging stations and after sales support if e-vehicles are to take the place of vehicles running on fossil fuels like gasoline and diesel “The industry

should be bent on continuing to improve the performance, mileage and durability of EVs, so that these vehicles develop over time both in capacity and reputation that will match and stand toe-totoe — or wheel-to-wheel — with their petroleumpowered counterparts,” Pulido pointed out.

Pulido underlined the government’s efforts to incentivize the industry, including the programs being implemented of the Bureau of Investments for nascent industries

such as EVs. The DOE has drawn up an Alternative Fuel Roadmap, which embodies the country’s immediate and long-term strategies concerning the said industry, the DOE official said.

Last May, the DOE in partnership with the Japan Government turned over the “nextgeneration vehicles” to selected government agencies, especially in the Yolandastricken areas, for practical testing and operation, research

and development, and technical familiarization.

It also formulated with the help of various stakeholders the Philippine Energy Standards and Labeling Program, which aims to ensure that all energyconsuming products, including light vehicles, will meet the set energy performance requirements for consumer benefit.

Pulido asked EV stakeholders to spread positive awareness of the benefits of using e-vehicles.

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Monday | July 3, 2017

Building 2 Now Open with License to Sell

One Oasis Cagayan de Oro Building 2 Grand Launch

F

ilinvest Land Inc. has opened the window for buyers willing to avail of pre-selling prices for its One Oasis Cagayan de Oro Building 2 which is now in full blast construction.

During the Grand Launch for the second of the planned five towers of One Oasis CDO held 30 June 2017 at the One Oasis CDO Clubhouse, Northern Mindanao Area Manager Ma. Arabelle B. Solidum said the Housing and Land Use Regulatory Board (HLURB) has granted FLI License to Sell (LTS) # 031747 allowing the selling of units for its Building 2.

“This means that we have officially complied with all requirements for the construction of the building and our clients can be confident everything is set for its completion,” Solidum said.

“We encourage interested buyers to avail of the pre-selling price now so they can enjoy the existing rates since we are adjusting prices by at least six percent in another two months,” she added. “Building 2 differs from our Building 1 since it only has 199 units (compared to 251 for Building 1) since it has exclusively two-bedroom condominium offering.”

Clients have the choice of paying deferred cash of 24 months at zero interest, or availing of as much as eight percent off the total price if they pay in full. More affordable monthly rates in the P20-25k range can also be availed from partner banks of or in-house financing.

Clients who wish to move in now can avail of one bedroom units still available from Building 1 can still move in immediately without paying loan application charges with

Swmming pool, clubhouse and Bldg 1 by Night

Filinvest Express Move-In Promo.

Buyers availing of bank financing can just avail of the early move-in promo for any Building 1 condo unit.

“Our Partner banks really like to focus on Ready for Occupancy Units (RFO) since the clients can also move in immediately and take possession of their chosen units,” Solidum said. “Clients only need to pay five percent upon move-in and another five percent in twelve equal monthly installments at zero interest over the next 12 months. Even if the client has not started paying the bank amortizations, they can already move in their chosen unit so long as the LOG is issued

FLI North Mindanao Area Manager Ara Solidum rallying the troops

by the bank. This means big savings and extra convenience in moving in your very own unit faster than the usual financing schemes available.

At present, Filinvest One Oasis CDO is the only condominium development in Cagayan de Oro offering Ready for Occupancy Units with completed resort-style amenities.

“We want to ensure all investors of One Oasis CDO we are delivering the project on time especially with the Building 2 now, and all unit owners can only enjoy resortstyle amenities exclusively in this project,” Solidum assures.

“All amenities are complete, our property management group is in place, and more than

80% percent of current Bldg 1 owners are now occupying their units, so it’s already a community.”

Every day is a relaxing treat to the body and spirit brought about by first-rate amenities at One Oasis Cagayan de Oro. Its resort-style amenities include a clubhouse, administration and fitness building; adult swimming pool and kiddie pool; all-weather covered basketball court; multi-purpose hall and children’s play area.

An Oasis of lush proportions Occupying 2.7 hectares, One Oasis Cagayan de Oro strikes a delightful balance between stylish mid-rise residential buildings and rejuvenating lush greenery. This open space is over 50% of the

development which includes landscape greens, open spaces, resort-themed amenities, and wide road networks Your urban oasis takes the form of an Asian-Balinese inspired master-planned community of mid-rise residential buildings set within a sprawling 2.7 hectare property at the heart of downtown Cagayan de Oro City.

• Enjoy the convenience of Oasis living in the heart of downtown Cagayan de Oro City • Be close to neighboring prime commercial centers in the city • Comfort and style seamlessly blend to create well-appointed 1-BR and 2-BR units

Come home to an accessible getaway You have the world at your fingertips because your home is a convenient distance from just about anything you will ever need.

One Oasis Cagayan de Oro is located at Rosario Limketkai Avenue, Brgy.

Lapasan, Cagayan de Oro City, along the perimeter of Limketkai Complex and J. R. Borja Extension.

To learn more about One Oasis Cagayan de Oro, please visit Filinvest office at the ground floor, Bo’s Café Bldg., Don A. Velez St., 9000 Cagayan de Oro City, or contact 0917305-8888, or check its official page at facebook.com/oneoasis. cagayandeoro

One Oasis Bldg II under full blast construction with Bldg 1 in the background

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monday|july 3, 2017

When you’re in Davao City, Read:

HOTELS & RESORTS DIRECTORIES

VILLA MARGARITA HOTEL J. P Laurel Avenue, Bajada, Davao City, Philippines Tel. No.: (082) 221-5674 / Fax No. (082) 226-2968 MICROTEL

By Wyndham Davao Damosa Gateway Complex Angliongto Rd., Lanang Davao City 8000, Philippines Tel +63 82 233 2333 / Mobile +63 917 795 3548 www.microtelphilippines.com PINNACLE HOTEL Sta. Ana Avenue, Davao City.

No. (082) 300-5885 Telefax: 300-1881/ 221-3025 Website: www.thepinnaclehotel.com ALU HOTEL M. Roxas Avenue corner Padre Faura Street, Davao City.

Tel No (63 82) 221-5232 / Mobile (O943) 652 3927 Email: aluhoteldavao@yahoo.com info@alu-hotel.com / www.alu-hotel.com GRAND REGAL Km 7 Lanang, Davao City, Philippines Tel. 235-0888 / Fax 235-2335 email: grandregalhotelegmail.com

VIAJEROS ECONOMY HOTEL Patnubay St., Sandawa, Matina, D.C Tel. No. 297-5710 / Telefax (6382) 298-5134 Mobile: 0922.-8268425 Website: www.viajeroseconomyinn.com

ROYAL MANDAYA HOTEL J.Palma Gil St., Davao City 8000 Phils.

Tel. No. (082) 225-8888 / fax No. (082) 225-1885 info@theroyalrmandayahotel.com www.theroyalmandayahotel.com HOMITORI Bangoy Street corner Santa Ana Avenue, Davao City Tel. No. (082) 295-2969 & 295-2471 / Mobile: (0922) 8994646 Email: homitoridvo@gmail.com or Like us on www.facebook.com/pages/Homitori-Davao BIG APPLE HOTEL Brgy. Angliongto, Lanang, D.C. Hotline Nos.: (082) 234-8459 Facebook account: bigapplehotel@ymail.com Email: bigapple_hotel@ymail.com

THE PERIDOT SUITES Carmelite Drive, Lanang, Davao City Tel. no.: (082) 305-6530 / Fax no.: (082) 305-38I2 Email: theperidotsuiles@gmail.com AZIENDA MEO APARTELLE 11 Corner Pioneer and Doña Vicenta Village, Phase 1, Davao City Telefax. No: (082) 227-4119 & 284-6689 Cell Phone No. 09256652626 Website: www.aziendameo.com Email Add: aziendameo@yahoo.com.ph Big 8 Corporate Hotel Visayan Village, National Highway, Tagum City Mobile nos. 09173029063 & 09328539372 Tel. No.: (084)216-0888 Email: info@big8corporatehotel.com www.facebook.com/big8corporatehotel.com www.big8corporatehotel.com HOTEL ELENA Avenida Santos Ave., Nova Tierra Vill, Lanang, D.C Tel. Nos. (082) 233-1941 & 305.8799 / fax No. (082) 233-1887 PARADISE ISLAND Tel. No. (082) 233-0251 & 300-2343 / CP No.: 09209546780 E-mail: paradiseislanddavao@gmail.com MARCO POLO DAVAO C.M Recto St., Davao City davao@marcopolohotels.com www.marcopolohotels.com (63 82) 221-0888 HOTEL ESSE Brgy. 9-A F Torres Street, Davao City Hotline: No: 227-37-73 / Fax: 295-34-85 Website: www.hotelessedavao.com.ph Email Add: hotel_esse_davao@yahoo.com RUEMANGO APARTELLE & SUITES 516 Mangga St., Juna Subd., Matina, Davao City ruemangoapartelleandsuites@gmail.com www.ruemango.com Tel. Nos.: (082) 295-7175/ 295-7180

Recipients of the 2017 Paeng Awards pose with the Board of Judges from the RBB Foundation L –R: Fr. Rev. Fr. Jose Victor E. Lobrigo (Simbag sa Pag-asenso, Inc.), Mr. Angelo Solarte (Taytay sa Kauswagan, Inc.), Gov. Amando M. Tetangco, Jr., Mr. Antonino L. Alindogan, Jr., (RBB Foundation), Mr. Rolando B. Victoria (Alalay sa Kaunlaran, Inc.) and Mr. Deogracias N. Vistan (RBB Foundation)

PAENG AWARDS 2017 AND MICROFINANCE COMMUNITY TESTIMONIAL COCKTAILS FOR GOV. AMANDO M. TETANGCO, JR.

On 21 June 2017, the microfinance community gathered for the Paeng Awards and to honor the distinguished achievements and valuable support of Governor Amando M. Tetangco, Jr. for microfinance in the country.

The Paeng Awards, formally known as the Rafael B. Buenaventura Awards for Microfinance Institutions, was launched in 2013 by the Rafael B. Buenaventura Micro Finance Resource Center Foundation (RBB Foundation) in partnership with the Bangko Sentral ng Pilipinas. The award is a tribute

to the legacy of the late BSP Governor Rafael “Paeng” Buenaventura who believed in the power of microfinance and strongly advocated for its mainstreaming in the financial system. The foundation bearing his name continues this advocacy as it provides microfinance institutions the tools, knowledge and technology to stay responsive to the changes in the market and the rapidly evolving demands of their clients.

The Paeng Awards are given in recognition of the notable inroads made by microfinance

institutions into improving client service, outreach, and institutional efficiencies through innovative programs.

For 2017, the citation awards were given to Taytay sa Kauswagan, Inc. (TSKI) and Simbag sa Pag-asenso, Inc., for achievement in disaster risk reduction management programs, and to Alalay sa Kaunlaran, Inc. (ASKI) for achievement in financial education.

Following the awarding ceremony, the microfinance community led by the RBB Foundation, Microfinance Council of the Philippines, and the APPEND Network gave its tribute to

Governor Tetangco for his outstanding contribution to the microfinance sector.

Under his leadership throughout the last 12 years, BSP supported the growth of the microfinance sector and promoted financial inclusion through enabling policies and pioneering advocacy work which have garnered for the BSP and the country international recognitions.

On 3 July 2017, Governor Tetangco will turn over the BSP leadership to Deputy Governor Nestor A. Espenilla, Jr. who has proven himself a staunch advocate of financial inclusion.

Bunye...

liberalization initiatives, we intend to further liberalize the provision of financial products and services, including our existing rules on foreign exchange transactions, to achieve a more risk-based, transparent and marketdetermined policy framework.

“We are also highly interested in continually reshaping the financial system to be fully responsive to the needs of the domestic economy. “ T h i s w o u l d e nt a i l providing for efficient retail payments under the NRPS project and an enabling regulator y environment for financial technology and for digital finance to develop without sacrificing

prudent credit underwriting and information security standards.

“This would also entail strengthening our commitment to advance our financial inclusion and consumer protection agenda to ensure that no one is left behind.”

Bottomline: With the help of a pro-active Monetary Board and BSP’s dedicated and loyal staff, Espenilla will work hard towards the “attainment of a truly inclusive, strong and dynamic financial sytem”.

Note: You may email us at totingbunye2000@gmail. com. You may also “like” us on Facebook at “Speaking Out”.

Bares...

from page 4

BSP will continue to move towards more market-based execution of monetary policy.

“We have started with the deployment of interest rate corridor (IRC) system and we will continue to review existing tools and policies in order to make the monetary system more efficient and market-oriented.

“We will continue to pursue capital market reforms to provide a viable alternative source of financing for longterm investments, including the development of the necessary financial market infrastructures (FMI).

“Wit h resp e c t to

from page 5

Eastern University (FEU).

He received his Doctorate in Business Administration ( Ho n o r i s C au s a ) f r o m the Philippine Women’s University and is a graduate of the Executive Program of the Stanford University Graduate School of Business in 1991.

He has served as president of Metropolitan Bank & Trust Co. (Metrobank) from 1993 to April 2006 and the Philippine Savings Bank (PSBank) and Unibancard Corp. from 1988 to 1991 and the current group vice chairman of the Metrobank Group. (JSV/PNA)

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Monday | July 3, 2017

27th Induction and Turnover Ceremonies of the Rotary Club of Cagayan de Oro East Urban T

Newly inducted officers of the Rotary Club of CDO East Urban.

photo credit : jade adaza

Left to right: Denvi Cabrera, 2nd District of Misamis Oriental Congresswoman Juliette Uy, Landbank's Jing Mercadel and Municipality of Villanueva Mayor Jennie Uy​. photo credit: jade adaza

Photo Credit: Jade Adaza

President Mags Cue and Michelle Francisco. photo credit :

Left to right - Miss Universe 3rd Runner-up Ariella Arida, Former Manila Vice-Mayor Isko Moreno, President Mags Cue, District Governor Linda Deleste and Past District Governor Fe Juarez​. photo credit : jory seriña rivera

jade adaza

OFFICERS FOR RY 2017-2018 President - Magdalena C. Cue VP-External Affairs - Rosalinda P. Caragos VP-Internal Affairs - Biema C. Along Secretary - Imee M. Van der Born Asst. Secretary - Marian Kanna M. Idulsa Treasurer - Shirley T. Escaño Asst. Treasurer - Julieta A. Dayrit Auditor - Georgie S. Tan Protocol Officer - Minda S. Gaerlan Comm. Officer - Liluisa A. Dacudao IPP - Rachaille Astrid P. Ferrer President-Elect - Lessandra Joy L. Gan DIRECTORS/COMMITTEE CHAIRPERSONS: Club Membership - VP Lessandra Joy L. Gan Club Administration - Rtn. Evelyn C. Tan Club Public Relations - PP Justina T. Uy Service Projects - PP Ophelia L. de la Cerna The Rotary Foundation - PAG Ella L. Yu New Generation - PP Agnes O. Adviento

The newly inducted President of the Rotary Club of Cagayan de Oro East Urban, Mags Cue. photo credit : jade adaza

Photo Credit: Jade Adaza

he Rotary Club of CDO East Urban had their Induction of Officers and Induction of New Members last June 25, 2017 at the Limketkai Luxe Hotel with Rotary District Governor Linda Deleste as the guest speaker. Miss Universe 3rd runner-up Ms. Ariella Arida and former Manila Vice-Mayor Isko Moreno gave their inspirational messages as well. The occasion was also graced by the club’s Charter President, Ybeth Yu. The club started with ladies who were not just acquaintances but close friends. They decided to give meaning to this closeness, thus the Rotary Club of Cagayan de Oro East Urban was born.

“This 27th Induction of The Rotary Club of Cagayan de Oro East Urban will forever be etched in my memory as the shining moment of my Presidency. I stand before you now filled with mixed emotions of joy, in being given the mandate to serve the club, and at the same time, dread, for the corresponding responsibilities heaped upon my shoulders.

Today is the Induction and it simply signifies the start of another year of service for our community and for our people.”

This was an excerpt from the opening speech of the newly elected President of the Rotary Club of CDO East Urban and the youngest President in their history, Mags C. Cue. For this year, she wishes to focus more on improving the lives of people through community service projects like feeding and livelihood with the help of the Director for Community Service Past

9

President Ophie de la Cerna.

Public Image will also be put into consideration to increase awareness and encourage new members to join and take part in the activities and projects of the club.

For the Rotar y Year 2017-2018, among the list of projects that would commence sometime in July is the Rotary International’s kick-off activity which is the feeding program that will happen in various Elementary Schools.

Among all the many projects of the RCEU is The Miss CDO pageant in partnership with The City Government of Cagayan de Oro and The City Tourism Council under Higalaay Festival core events.

Another one of the most significant and meaningful projects of the club is the Wheel Chair Distribution initiated

by Past District Governor Fe Juarez.

As expected from one of the Philippine’s best dressed, President Mags Cue, the event was filled with beautifully dressed women wherein the new officers were in gold long dresses.

It was both my honor and pleasure having been invited as one of their guests for this beautiful event attended by beautiful people.

Congratulations to the new officers and new members!

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monday|july 3, 2017

Rehab... from page 1

already working on the upgrading of facilities at the evacuation centers.

“In fact, even with the tent cities we’ll be assisting them with the basic amenities for the tent cities but of course that’s part of the short term. That’s within—for the next 6 months,” he said.

The long-term plan, he said, will include new areas for civilians.

He said the Department of Budget and Management is prepared to release the budget for the rehabilitation an d a ss i st an c e for t h e evacuees.

He did not disclose details of the masterplan, as work on it is still ongoing in coordination with Marawi City Mayor Majul Usman Gandamra.

But he assured the government will be ready to immediately implement rehabilitation works as soon as the Marawi crisis ends.

“It was done by experts and it will be utilizing all the latest, in terms of urban planning. In terms of urban planning, it will be very … it will be very efficient. And I’m sure it will be improvement also,” he said.

President Rodrigo Duterte said he will allocate P20 billion for the rehabilitation of Marawi from the Philippine Amusement and Gaming Corporation.

Villar said he cannot yet determine the cost of the rehabilitation as they could not go inside the city to make an estimate, but added P20 billion is a significant amount and “marami tayong magagawa sa (we can already do so much with ) 20 billion in terms of rehabilitation.”

“We have to see to the extent of how much has been damaged and how many people we have to give, if what kind of assistance they need so until such time as we can get a firm assessment on the ground. It’s hard to give exact numbers,” he said.

P r e s i d e n t i a l Communications Operations Office assistant secretary Marie Banaag said that, as of 6 p.m. of June 28, 44 civilians had died, 1,711 civilians had b e en res c ue d, 303 terrorists had been killed, and government casualties had reached 75.

G o v e r n m e nt t r o o p s recovered 362 firearms, she said.

Seafarers... from page 2

to create a better, safer and more secure workplace on which the seafarers operate.

“Seafarers are the people without whom food, clothes, gifts, gadgets or even basic needs would not reach our doors. We rely on them yet have we ever said thank you to our seafarers,” Butaslac expressed.

The Day of the Seafarer was highlighted with the blowing of horns, floral offering at the port side, Eucharistic celebration, short program, L arong Pinoy (Filipino games) and a boodle fight.

Around 200 participants from national line agencies, private shipping companies, and maritime training institutes and centers graced the event.

(RTP/PIA10)

Response... from page 2

The participating IDPs, mostly women, expressed much appreciation of the SLR process because it involved them in identifying their needs and empowered them to manage the project. The latter covers procurement of goods, reporting, and monitoring of project implementation.

The beneficiaries also closely coordinating with their respective host barangays.

EcoWEB with partners, aim to sustain the assistance until return of the IDPs, towards recover y and rehabilitation following SLR process while integrating p e ace-bui lding ef for ts.

(Ecoweb/PIA 10 LDN)

Vehicles... from page 3

equipment for manufacturing of electric and hybrid vehicles.

“If we don’t provide incentives (for the electric and hybrid vehicle industry), it’s not going to take off,” she said.

On the sidelines of the event, Aldaba told reporters that the first package of the comprehensive tax reform promotes the use of electric and hybrid vehicles as it exempts these vehicles from excise tax.

But she noted that aside from exempting from excise tax, other bills filed in the Congress in the past eye duty-free importation for electric and hybrid vehicles.

Ne x t w e e k , v a r i o u s government agencies will have a stocktaking on the electric and hybrid vehicle industry; understanding the current state of the industry and looking at its potential and identifying government inter ventions needed to support the growth of the industry.

“A g e n c i e s o f t h e government need to co ordinate, collab orate and ensure that our policy directions are aligned,” Aldaba said. (KMC/PNA)

Nestle... from page 3

the Globe e-waste bins to each of its 20 sites across the Philippines which include corporate offices factories, distribution centers, sales and service offices.

Globe Business Vice President Dion Asencio said that the main inspiration of the project is to find ways to do business beyond the usual operations. “We normally look at partnerships with other companies from a connectivity standpoint, what services we can provide from a technology point of view like how to bring the digital transformation into their organization,” said Nestle’ Philippines Senior Vice President for Corporate Affairs.

P 1 P, t h e f l a g s h i p conservation initiative of

Globe, focuses on responsible e-waste recycling and recover y to ensure that harmful materials do not end up in landfills. It also aims to promote sustainability by engaging various stakeholders, customers, partner corporations and the public to donate their e-waste for the conservation an d prot e c t i on of t h e environment. So far, from the 79,968.2 Kg of e-waste gathered when it was first launched in 2014, the amount increased to 124,572.19 Kg the following year. In 2016, through concerned individuals and 10 corporate partners, Globe has hauled a whopping 141,833.69 kilograms, which exceeds the year-end target of 120,000 kilograms.

All proceeds from recycling these electronic waste go to Globe Telecom´s advocacy to bring 21stcentury learning to students and teachers by building ICT classrooms nationwide and providing proper training hrough its Global Filipino Schools program.

Larawan... from page 4

that the supposedly ghost of Duterte’s rhetoric has taken flesh and blood to haunt frustrated wannabes?

Whether the drug campaign of Duterte is working, we expect Trillanes to say, “definitely not.” Then Suckur, in the talk show, continued that in the Philippines people are saying: “ The streets are safer now. Here, we need a ruler with an iron fist. That seems to be the mood…the approval rating of Duterte remains high at 75 percent. I am just wondering your comments are out of t u n e .” T h e a n s w e r o f Trillanes: the president’s approval rating went down f r o m 9 2 p e r c e nt t o 7 5 p e r c e nt , w h i c h Su c k u r responded, “B elieve me, s e n a t o r. I f a w e s t e r n politician commands 75 percent approval rating, he would regard that as the happiest moment of his life.” In other words, give me that rating here in the west and I will party all month long. The C-4 bomb that Trillanes should have detonated in the internationally-aired show did not tur n into a w h i m p e r— i t b e c a m e a f iest a celebrat ion for Duterte. What a bomb!

Ab out t he issue of having Arturo Lascañas testif ying about death squads, Sucker stressed: “it seems odd that you, as an exp er ience d politician, would put so much faith in a selfconfessed mass murderer.”

He then continued, “ The Filipinos decided that this is t he man to cle an up the countr y. In political terms, it seems to me you are dashing yourself against a brick wall.”

This is what Trillanes is really doing: he bangs against a brick wall

because the Filipinos, in general, do not anymore b eli e ve h i m. He t h i n k s that putting down another l e a d e r, ju st l i ke b e fore in his two failed coups, will earn him and his financiers additional pogi points. Senator Trillanes merely revealed that he is not really after the welfare of the people who voted him into the Senate. He did not use the logic about what happens if he touches the leader whom most p e opl e l ove. If he u s e s common sense, he needs a better approval rating to do that, but we wonder : what is his grade? If you ridicule the much-loved duly elected president, be not ridiculous yourself.

Trillanes even managed to utter another lie: that D u t e r t e’s p r o p a g a n d a machine is getting in the way. Comparably, the pre s i d e nt i s n ot p owe r hungr y that he would spend on propaganda for himself; much opposite to the Liberal Party members who secretly spend millions to demolish the president. Verif y : a j ou r na l ist c on fe ss e d i n the social media that for e a ch ar t i cl e d e st roy i ng Duterte, he had received $50,000. And what ab out the leaking news of Nicol as L oid a L e w is who reportedly financed t h e nu i s a n c e - m a k e r s’ demolition scheme with the mandate of planting what can destroy Duterte: “it does not have to be true; just make it appear t o b e t r u e .” B ut c an w e hear such news from D ut e r t e s p e n d i ng s u c h self-serving propaganda?

The supporters of Duterte are t he one s d oi ng t he pre s i d e nt’s prop ag and a for free via social media.

To clarif y to my readers, I did not wr ite ar ticles to support the president because someone told me.

I did it pro bono on my ow n i n i t i at i v e b e c au s e I have seen the real motives of the president’s opponents.

S u c k u r ’s much publicized interview with Trillanes is not just about t h e s e l f - d e s t r u c t i on of the money-bewildered senator. It also spells the do om for t he oligarchs and other enemies of good w h o a l s o u s e t h e s am e line of thinking employed

by Trillanes. You cannot assure your billions will w or k t o b l ow t o bit s a hero like Duterte. What you expect to destroy the president really eulogized him internationally—just the right time after the E u r o p e a n u n i o n’s a n d Obama’s criticism about his anti-drug campaign.

B efore going to the Inte r n at i on a l C r i m i n a l C our t, before shopping for interviews, remember the basics of winning the hearts of people, just like the r ule of poetr y : whatever you say, make sure it has truth in the l ite r a l l e vel, or el s e, it cannot fly.

11

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Board... from page 1

announcement by the energy chief.

R e l at i v e t o W E SM M i n d an a o’s l au n c h i ng , Cusi just asserted that its concret izat ion “sig na ls the start of a competitive electricity market in the region, of which costing would be transparent.”

With investment influx in the region in recent years, Mindanao grid is now teeming with supply – but capacities not underwritten by supply contracts still struggled through time on having an alternative market.

The energy secretar y explained that the WESM will set in place “a transparent electricity market with which Mindanao power generators will have an avenue to trade un-contracted power capacity.”

He a d d e d t h a t t h e spot market “will provide consumers more sources of electricity to choose from, increasing their chances of securing lower-priced energy.”

Zubiri... from page 1

This was also higher than the national average of 6.9 percent, the sixth fastest among the regions in the country.

He also reported on LGUs’ improved fiscal performance in terms of local revenue generation, enhanced access to major ports, production are as, markets, tour ist destinations and economic centers enhanced; improved power reliability and stability; and expanded health insurance coverage, among others.

Ongoing high impact projects were cited as follows: (a) the Panguil Bay Bridge construction which is set to start in the second quarter of 2018; (b) the Misamis Oriental-Bukidnon By-Pass E o ad (PHIVIDEC-Alae section) which is already 75 percent complete; (c) the East-West Lateral Road connecting Agusan del Sur to Bukidnon, DamayKalabugao-Adtolawon Road; (d) the Cagayan de Oro Coastal Road; and e) the Flood Control and Drainage Projects in Cagayan de Oro, Iligan and other areas in the region.

The establishment of Laguindingan Seaport and the Bukidnon Airport were also cited as priority big ticket projects.

Reducing poverty remained a challenge along with the underperformance of the farm sector, the need for more classrooms and teachers to meet the K-12 requirements, reducing tuberculosis-related deaths and illnesses, improving waste management, and addressing slow internet connectivity.

The Council expressed support to the priority action areas cited in the 2016 Regional Development Report to address the above challenges and constraints, and sustain the development gains.

The body also expressed support to the: (a) Regional Development Policy Research Agenda for 2017-2022; (b) the institutionalization of the LGU Income Classification; an d ( c ) t h e E c on om i c Managers Position on the Proposed Free Tuition Fee for Undergraduate Degrees in all State Colleges and Universities.

It also endorsed, among others: (a) the Master Plan and Feasibility Study (FS) of Urban Drainage and Improvement of Related Works in t he cit ies of Cagayan de Oro, Gingoog, Iligan and Oroquieta and the municipality of Clarin in Misamis Occidental; (b) similar master plan and feasibility study for the eastern and western sections of Cagayan de Oro City and the municipality of Opol in Misamis Oriental; (c) Philippine Cacao Industry Roadmap, 2016-2022 and Northern Mindanao Regional Cacao Industry Action Plan, 2016-2022; (d) Northern Mindanao Cacao Industry Development Council; (e) Utilization of Provincial/ City Commodity Investment Plans; (f) Road Development Projects for funding under the DTI and DPWH Convergence in Roads Leveraging Linkages for Industr y and Trade (RoLL-IT) Program; and (g) the Inclusion of Coconut By-Products in the Priority Commodities of Agriculture in 2017-2022.

Also endorsed were the requests of the Regional Land Use Committee which included among others, technical assistance of the Department of Agriculture on the updating of the Strategic Agriculture and Fisheries Development Zones and the Network of Protected Areas for Agricultural and AgroIndustrial Development; and the formulation of the Local Climate Change Action Plans.

The body also approved

Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL CAGAYAN DE ORO NOTICE TO THE PUBLIC In compliance with Section 5 of R.A. No. 9048, a notice is hereby served to the public that MAISIE FAITH DAGAPIOSO-YUMOL has filed with this office a petition for Change of name from FAITH to MAISIE FAITH in the birth certificate of FAITH DAGAPIOSO who was born on MAY 19, 1960 at CAGAYAN DE ORO CITY and whose parents are ELSON DAGAPIOSO and CARMENCITA JALALON. Any person adversely affected by said petition may file his written opposition with this Office not later JULY 10, 2017.

(SGD.) NORMA S. DIPUTAFO

City Civil Registrar BWM: July 3 & 10, 2017

the creation of the Regional Committee on the Promotion of Culture; the request for concerned entities to hasten the implementation of the Socialized Housing Programs; and the request to support House Bills 4742 (Providing for a National Po l i c y o n P r e v e n t i n g Te e n a g e P r e g n a n c i e s ) and 4689 (Mandating the Creation of Local Population Development Offices).

Gracing the occasion were USEC Adoracion M. Navarro of NEDA and Ms. Nenita R. Jimenez of the DPWH C entral Of f ice.

USEC Navarro presented government’s “Build, Build, Build” Challenge anchored on the National Spatial Strategy (NSS) which seeks to build on the efficiencies and maximize the benefits of scale and agglomeration economies, connect the settlements to form an efficient network, and make vulnerability reduction an integral part of development.

The Philippine Development Plan (PDP) 2017-2022 has adopted the NSS to guide investment programming towards regional and rural development. In terms of function, Metro Cagayan de Oro City is seen to a major gateway and transhipment hub in Northern Mindanao and will also remain as a key educational center in Northern Mindanao that will cater to the need of industries and services sectors.

To realize these roles, USEC Navarro said that a number of Region X projects are included in the 75 flagship projects of the national government such as the Panguil Bay Bridge,

Malitubog-Maridagao Irrigation Project Phase II, Laguindingan Airport, Agus 6 Unit 4 Major Rehabilitation Project, Balo-i Plains Flood Control Project, Pulangi 4 Selective Dredging Phase 3, Rehabilitation and uprating of all Agus-Pulangi Hydroelectric Plant Units, and Agus 3 Hydroelectric Plant, among others.

Ms. Nenita R. Jimenez of t he DP W H C e nt r a l Office Planning Division also presented the DPWH budget priorities for its “Build, Build, Build” Program w hich include d among others, the Panguil Bay Bridge and the Flood Risk Management Project, and some convergence programs such as the construction and rehabilitation of roads leading to airports and seaports in the region. (NEDA-X)

Festival...

from page 1 The word Tagulambong w a s t a k e n f r o m Ap o Ta g u l a m b o n g n a m e , a combination of the two words, Tagu and Lambong.

Ta g u m e a n s “ T i n a g o”, “Nakatago” – “Hidden”, “thriftiness, mystic and full of mysticism and Lambong means “Lambo,’’ or as oldtimers and Higanonons would regard as “Panaghiu s a u g p an agd ait ay s a Kalamboan”, “productivity, prosperity and good harvest’’. “ There are lots of rituals that falls under this category.,” an official said in a concept paper that produces Tagulambong Festival with the Higanonon tribe taking center stage in the six-day grand festivities Organizers said every year from then on, Magsaysay

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE REGIONAL TRIAL COURT SHERIFF NOTICE OF EXTRA JUDICIAL SALE EJF File No. 2017-225 UPON Extra-Judicial Petition for Sale under Act No. 3135 as amended by Act No. 4118, filed by HOME DEVELOPMENT MUTUAL FUND (Pag-IBIG Fund) as Mortgagee/s, against MAFEL P. GATCHALIAN married to NOEL BENEDICT G. GATCHALIAN, with postal address at Lot 13, Block 19, Mocking Bird St., Morning Mist Village, Carmen, Cagayan de Oro City, as the Mortgagor/s, is indebted to the Mortgagee in the total amount of ONE MILLION FOUR HUNDRED EIGHTY EIGHT THOUSAND EIGTH HUNDRED EIGHTY SIX PESOS and 53/100 (Php 1,488,886.53) inclusive of interest and penalty, charges as of March 20, 2017, and expenses of foreclosure, the undersigned Sheriff will sell at public auction on July 27, 2017 at 10:00am to 4:00pm, at the Office of the Clerk of Court, Regional Trial Court, City Tourism Hall, Cagayan de Oro City, to the highest bidder, for cash or manager’s check and in Philippine Currency, the following property described below including all existing improvements found thereon;

will transform itself into one big street party, streets closed and drumbeats are heard everywhere nothing short of as an astounding Tagulambong Festival.

The parade will fill the whole length from Barangay K i b u n g s o d ( Tr a n s p o r t Terminal) to the Poblacion.

It added the festival becomes a feast for the eyes called “Session Road of Mysticism, Culture and Traditions”.

This is also lined by students of nearby schools with flaglets in their hands with the inscription “Tagulambong Festival”. The flag are positioned or spaced for locations alongside the route.

“The festival definitely lives up to its name, making Magsaysay, the p er fe c t dest inat ion for t hos e w ho s e ek ref uge and underst anding t he importance of culture and traditions,”an official said.

The festival would be participated in by Higaonon tribes, of Tama, and other barangay of Magsaysay, Claveria, Eureka/Kalipay, Ginoog City, Jasaan and all

towns of Misamis Oriental that had descendants of Higaonon tribe.

All contingents of 30-50 students in every public and private high schools would participate. street dancing contest.

The Higaonons will also participate in street dancing during the parade.

To cap the Tagulambong Festival, the Higaonon tribe will be presenting tribal dances, weaponr y and pageantry. The Tribal Dances are: Sinadsad, inamo, binaglan, dogso, binanog, inowang, ag danguing or dinaging, inagong, singkil and pinintok.

An officials said Ta g u l a m b o n g F e s t i v a l promotes Magsaysay as a tourist destination and in support to Philippines tourism industry. “ H o w e v e r, i t h a s undeniably added great value to the growing interest in the Philippines Festival’s new events and somewhat adventurous activities that everybody will definitely experience and enjoy year after year,” the official said.

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 22 Cagayan de Oro City IN RE: PETITION FOR ADOPTION OF FC-SP-FMY-2017-080 MINOR CHARLES ANGELO CORDERO, SPS. ARKE C. DAEL AND CELISTE C. CORDERO,

Petitioners,

-versus- for: LOCAL CIVIL REGISTRAR OF ADOPTION CAGAYAN DE ORO CITY,

Respondent, x-----------------------------------------/ ORDER

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

In the event auction sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication.

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

DONE this 19th day of June, 2017, in the City of Cagayan de Oro.

This petition seeks for the adoption of minor child CHARLES ANGELO CORDERO by the petitioners Spouses ARKE C. DAEL and CELISTE C. CORDERO and for the change of the name of the child to be adopted to CHARLES ANGELO DAEL.

Finding the petition sufficient in form and substance the Same is hereby given due course. Let the hearing be set on June 28, 2017 at 8:30 in the morning_at_ 2nd floor Legislative Bldg., Conference Room of the City Council, City Hall, Cagayan de Oro City.

At the expense of the petitioners, let this order be published once a week for three (3) consecutive weeks in a newspaper of general circulation in Cagayan de Oro City and in Misamis Oriental, The RTC Social Welfare Officer assigned to this Court is hereby directed to conduct a home and child study on the adopting parents, the natural parents and the child to be adopted. She is also directed to conduct counseling sessions with the biological parents of the child to be adopted. The reports thereof shall be submitted to this Court SIXTY (60) DAYS frorn the receipt of this order.

Petitioners are directed to make arrangements with the Court Social Worker for the scheduling and incidental expenses in conducting the case study.

Let copy of this order and the petition be furnished upon the Local Civil Registrar of Cagayan de Oro City, the Solicitor General and the city Prosecutor of Cagayan de Oro City for their appearance in behalf of the state.

SO ORDERED. Given this 5th day of April, 2017 at Cagayan de Oro, Philippines.

(Sgd.) ENRIQUE M. TALAG, JR

Sheriff IV BWM: July 3, 10 & 17, 2017

BWM: July 3, 10 & 17, 2017

TCT Nos. T-144829 “A PARCEL OF LAND Lot 13, Block 19, of the Subd. Plan, PSD-10-030370, being a portion of Lot 2297-B, PSD-10-021404), situated in Barangay Carmen, City of Cagayan de Oro, Island of Mindanao, including all improvements constructed thereon, containing an area of One Hundred Eighty (180) sq. m. more or less.xxx

(Sgd.) RICHARD D. MORDENO Presiding Judge

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