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BusinessWeek MINDANAO CREDIBLE

Volume VIII, No. 2

Market Indicators As of 5:00 pm June 9, 2017 (friday)

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Aid for evacuues THE Department of Social Welfare and Development (DSWD) has begun processing a one-time PHP1,000 cash assistance for each family displaced by the ongoing hostilities in Marawi City in Lanao del Sur. According to a department news release, Social Welfare Secretary Judy Taguiwalo said the assistance will be provided under the DSWD Assistance to Individuals in Crisis Situations (AICS). “Most of our fellow citizens from Marawi are Muslims. We are now processing to provide them cash assistance because it is Ramadan. They can use it to buy fruits because they are breaking their fast,” Taguiwalo said during a radio interview. She noted that representatives from Lanao suggested the provision of the cash assistance to help Muslim evacuees who are observing the fasting month of Ramadan despite being in evacuation centers.

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GRANDMA’S LOVE. A “bakwit” cuddles her grandchild (left photo) at the Lanao del Sur provincial capitol in Marawi City while a woman (right) contemplates as anxiety is written all over her face. The Department of Social Welfare and Development (DSWD) reported on Friday (June 9), a total of 52,460 families or 252,638 persons have been displaced by the armed conflict in Marawi. mindanews photo by

PH jobless rate down 5.7% froilan gallardo

By LESLIE D. VENZON, PNA

HE government needs to create more job opportunities through building infrastructure projects and essential health and education services to increase employment figures, said the country’s economic planning chief.

Consumer confidence CONSUMER confidence in the Philippines posted its record-high index of 13.1 percent in the second quarter of 2017, which respondents of the central bank survey attributed partly to improved peace and order situation. This lastest survey is the fourth consecutive quarter that consumer confidence stayed at the positive territory since rising to 2.5 percent in the third quarter of 2016 or the start of the Duterte administration. Results of the Consumer Expectations Survey (CES) for the second quarter of this year, showed that other factors cited by the respondents are additional family income due to higher salary and stronger business activity, availability of more jobs and increase in the number of employed family members, and effective government policies.

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MOTHER AND INFANT. A mother administers medicine to her infant at an evacuation center at the Iligan City National School of Fisheries in Barangay Buru-un in Iligan City. At least 184 families or 696 individuals from Marawi City have sought shelter in this school because of skirmishes between government troops and the Maute group. mindanews photo by roel n . catoto

National Economic and Development Authority (NEDA) Director General Ernesto Pernia said the country could innovate job opportunities by “developing low-cost, labor-intensive but efficient methods for meeting current infrastructure needs.” The Duter te administration intends to ramp up infrastructure spending to P8.44 trillion over the next six years. Pernia also pushed a closer coordination between sectors for easier skills matching.

“We can further enhance current programs like the Government Internship Program (GIP) and JobStart Philippines to help workers m a ke i n for m e d c are e r d e c i s i on s a n d a c q u i re skills necessary in today’s competitive environment,” he said in a statement. The NEDA noted that the decreasing unemployment rate must be sustained, together with higher job creation, to reduce unemployment to around jobless/PAGE 10

Oca seeks reprieve from Ombuds, Davao choco wins anew files motion for reconsideration By ANTONIO L. COLINA IV, MindaNews

By MARK FRANCISCO, Staff Writer

Moreno

E M BAT T L E D C a g ay an de Oro City Mayor Oscar Moreno on Friday has asked the Office of the Ombudsman to reconsider its earlier decision dismissing him from service allegedly for various graft and corrupt practices acts. In its motion for reconsideration, Moreno’s counsel Atty. Dale Mordeno argued that the same case that was lodged at the Office of the

Ombudsman is still pending before the Commission on Audit (COA) and the Ombudsman could have committed “forum shopping” in rendering its decision. On Thursday, the Office of the Ombudsman announced Moreno’s dismissal from service and filed multiple graft charges against him and seven others in connection with the lease of heavy reprieve/PAGE 10

DAVAO City – T h e f i v e - y e a rold homegrown Malagos Chocolate, a company owned by the Puentespina f a m i l y, h a s continued its winning streak at the Academy of Chocolate Awards in London when it won silver for its singleorigin unsweetened chocolate, the only one from Asia that bagged the prestigious award under

the Plain Hot Chocolate Category. The other silver winners in the same category are Akesson’s Choc Drops Brazil 75% Cocoa Organic, Akesson’s Choc Drops choco/PAGE 10

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Guv wants MisOr selfsufficient in food, fish MISAMIS Oriental -Misamis Oriental chief executive has urged groups in the agriculture sector in the province to help the Provincial Government in its quest for self-sufficiency in food in the coming years while he is still the governor. Gov. Bambi Emano said he is open to proposals from these organizations to achieve one of his administration’s goals—self-sufficient in food. “The provincial government wants to work with you. If you think that you will love agriculture, now is the time (to suggest). If you want agriculture work in the province, now is the time. If you have good proposals and ideas, now is the time to tell us because we will fund it. We will support

you,” governor Emano told crowd of farmers, agriculture sector leaders and city and municipal agriculturists in a meeting. Emano, an agriculturist, said he understands the plight of the farmers. “I’m not sp e c i a l u g dili pud ko unique. But I believe that I am the first agriculturist nga naa ani nga position (as governor). You take advantage. Now is your time. Who knows, I am not gonna be governor forever. The next governor basin ang iyang focus infrastructure. Ang sunod governor lahi pud. So, this is the time for you,” the governor added. He said these farmer organizations must not h e s it ate to d r aw t h e i r misor/PAGE 10

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Govt says enough funds available to sustain needs of Marawi IDPs

LIGAN City -- There is budget allotted for the assistance to sustain the needs of the evacuees. Planning with the National Defense Team has been conducted since from the ver y beginning and implementation of recovery has been looked forward to, said Undersecretary Ricardo B. Jalad, administrator, Office of Civil Defense (OCD) and executive director, National Disaster Risk Reduction and Management Council (NDRRMC), in a press briefing held at the Regional command and Coordination Center in Iligan City. Jalad also said, “I came here to check the performance of the system that we have,

check if we have some needs to be downloaded to the National Office, and we have more issues that needs to be addressed.” Marawi city will b e subject to clearing program to prepare for the recovery, said Usec Jalad. T h e u n d e r s e c re t a r y likewise gave emphasis on the Executive Order No. 82 about crisis management wherein the primary arm in the operation is the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP). Signed 4 S eptemb er 2012, EO 82 activates the practical guide to organized government response during emergencies for both national

and local crisis management committees. The order states “there is a ne e d to e st abl ish and clearly delineate authority, responsibility and accountability of crisis management organizations and Incident Command Systems from the national to the local levels. The role of DRRM sets in on the consequence of the human induced hazard, which is to manage the effects of the displacement. In re s p o n s e t o t h e situation, RCCC was put up, Regional Resp ons e Clusters were activated, and also with National Incident Management Team (NIMT) under t he Task Group

Emergency Preparedness Response (TGEPR) in support to the current situation. “Two mechanisms are being planned, the AFP to address the needs of the IDPs, we have activated the response clusters, to provide assistance to those who are in need. NIMT are being organized. Two regions are involved—Davao and the Autonomous Region in Muslim Mindanao (ARMM), said Jalad. To assist in consequence management related to the Marawi City incident, Cagayan de Oro City DRRM Department Overseer Col Mario Verner S Monsanto (ret), along with a contingent needs/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

Helping a comrade. A wounded in action soldier is transported in Camp Evangelista, Cagayan de Oro City for immediate treatment on June 8. Capt. Joe Patrick Martinez of Fourth Infantry Division says that they don’t have the exact figure yet as to the number of WIA soldiers housed in Camp Evangelista as some of them are transferred for recuperation to Manila while the others were discharged already and are capable to be back on operations.(RTP/PIA10)

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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KTM PHILIPPINES INAUGURATES MOTORCYCLE PLANT IN LAGUNA KTM Asia Motorcycle Manufacturing, Inc. (KAMMI), a jointventure partnership between Adventure Cycle Philippines, Inc., owned by AC Industrial Technology Holdings, Inc. (AC Industrials), a member of Ayala Group of Companies, and Austrian motorcycle giant KTM AG (Kronreif & Trunkenpolz Mattighofen AG), inaugurates its stateof-the-art manufacturing facility at the Laguna Technopark in Sta. Rosa, Laguna.

The KTM Philippines plant – which assembles four (4) KTM models such as the KTM 200 DUKE, KTM 390 DUKE, KTM RC 200 and KTM RC 390 – will have an initial production run of 6,000 motorcycles, with the goal of eventually expanding to 10,000 units annually. Apart from the domestic market, KAMMI plans to export to neighboring ASEAN markets as well as China, where some 60 million motorcycles are ktm/PAGE 11

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Everest, EcoSport and Ranger helped achieve Ford’s best-ever May sales performance

ord Philippines recently announced its best-ever May performance with retail sales rising 4 percent year-over-year to 3,036 vehicles, led by strong demand for its Everest, Ranger and EcoSport nameplates. The popular Everest SUV led the May performance with sales remaining steady from the same month a year ago at 1,061 vehicles. The Everest is Ford’s bestselling nameplate in the Philippines with year-todate sales totaling 4,629 vehicles. Engineered for the extraordinary, the Everest redefines consumer expectations for a mid-size SUV with its bold design and refined interior, offroad capability with onroad comfort. The EcoSport compact SUV delivered May sales that rose 7 percent from a

year ago to 908 vehicles as it continues to enjoy wide appeal among Filipino customers. Year-to-date sales have jumped 20 percent to 4,241 vehicles. Monthly sales of the segment-defining Ranger rose 6 percent year-overyear to 832 vehicles, helping drive its year-todate sales up 11 percent to 3,716 vehicles.

With a range of 15 models in the Philippines, the ‘Built Ford Tough’ Ranger is the most capable and versatile truck in the market. Ford’s North American-built models contributed to the record May total. Sales of the premium Explorer SUV increased 73 percent from a year ago to 126 vehicles.

The Mustang delivered monthly sales of 31 vehicles. “Our most popular nameplates – Everest, Ranger, and EcoSport – are continuing to drive our overall sales and helping us stay on track for another record year,” said Lance Mosley, managing director, Ford Philippines. everest/PAGE 11

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Start a New Relationship Think a minute…A recent study of fathers and their children was done in America with shocking results. The study showed that the average father spends only 37 seconds each day actually talking and listening to his child. Inside our family, we can live separate lives in our own world. Even though we live together, we don’t really know each other and what each of us is feeling and going through. A teenager’s gravestone read: “Couldn’t you see that I was dying?” Dad and Mom, sometimes we can read the weather signs better than we can read our own kids. Often we don’t know what they’re facing and feeling. We don’t know their fears, hurts, or frustrations. Are we really listening and understanding each other? Or do we just go through the motions every day, but actually close our ears and hearts to them? Is it because we’re not really interested? Or do we simply not want to know the truth because we’re not sure how to handle it. We don’t want to be confused with the facts! Sometimes we parents choose to put our time and energy into our job and career because it’s easier than really dealing with our

THINK

A Minute

The Bangko Sentral ng Pilipinas is not only the country’s central monetary authority. Over the years, it has also taken on a unique role of promoting appreciation of our country’s rich culture and history. The BSP’s Metropolitan Museum is home to priceless art pieces, including preHispanic pottery , finely craf te d Hisp anic gold, expresssive religious art, exquisite embroidery and cleverly designed furniture. The Money Museum displays pre-historic coins and jewelry. The BSP’s halls and offices are decked with paintings of the Filipino masters and soon-to-be national artists. Why so? Explains Amado M. Tetangco, Jr., who has held the helm of the Bangko

Sentral during the last twelve years: “Many would probably think that central banking and the arts share little in common. To us, however, both are linked by their capacity to reflect the story of our past. “At the BSP, we believe that history must inform our country’s journey; we must learn from the past so that we will be better and stronger for the future. “This is important. In this time of globalization, it is important that we do not lose sight of who we are as a people, what we have achieved and what we can achieve.” That s aid, Tet angco launched recently two BSP books, different by discipline

but linked by a common purpose. The first book “Likha: Enduring Legacies of Filipino Artistry” celebrates Filipino heritage by showcasing the decorative arts collection of the Bangko Sentral ng Pilipinas which includes artifacts from 2000 years ago. The second book “Philippine Central Banking: A Strategic Journey to Stability” looks at the core aspects of central banking from the point of view of professional central bankers with broad and deep experience in the science and the art of central banking. “Likha” (Filipino word for “Creation”) features the decorative arts collections, accumulated over more than four decades. The book

SPEAKING

O ut

Ignacio Bunye includes articles written by Corazon S. Alvina, Esperanza B. Gatbonton, Martin I. Tinio, Jr., Cynthia O. Valdes and Ramon N. Villegas. Former Central Bank Governor Jaime S. Laya, during whose term the collection was started, wrote the introduction. bunye/PAGE 11

Is Ombudsman fixated to oust CDO mayor? LIFE’S INSPIRATIONS: “… Do nothing out of selfish ambition or vain conceit. Rather, in humility value others above yourselves…” (Philippians 2:3, the Holy Bible). -ooo IS OMBUDSMAN FIXATED TO REMOVE C D O M AY O R ? D o e s O m b u d s m a n C on c h it a Carpio Morales have an obsession to oust Cagayan De Oro City Mayor Oscar Moreno from being the chief executive of the so-called “golden city of the South”? I ask this question because of the Ombudsman’s latest order dismissing Moreno once more from his position, which is actually the second order of dismissal against him already. Of course, Morales may justify her actions against Moreno by saying there is evidence that warrants the mayor’s removal from office and that the Ombudsman was simply acting pursuant to law, in relation to charges that he committed graft by

renting heavy equipment to pursue road construction projects without bidding. But, considering Morales’ track record in refusing to investigate many lawmakers in connection with the socalled P10 billion pork barrel scam where she sent to jail three opposition legislators but left out allies of then President Aquino, it would seem she has a special fixation to remove Moreno. Is there anyone out there reading this column now who could tell me why? -ooo BPI GLITCH TO CAUSE COLLAPSE OF COMPUTER BANKING IN RP? The Bank of the Philippine Islands (BPI) computer glitch which has discomforted many of its depositors nationwide is truly a scary prognosis of the future of computer banking in the country. I mean, if this happened to a smaller bank, it would have been understandable and could be simply passed off as, well, just a computer glitch. But that this happened,

and is still happening now on a countrywide scale, to BPI, tells us that the problem it is experiencing with its computers is not just a simple glitch, but a computer problem of gargantuan and epic proportions that has just compromised the entirety of computerized banking in the country, and may yet cause its collapse. The question is, what is the guarantee that a problem of this nature will not happen again in the future, not only with BPI, but with the other equally prominent and heavyweight banks in the Philippines as well? If I were a bank depositor who has been transacting on my deposits via the computer or the Internet, I will now think of withdrawing my deposits to either safekeep or invest them somewhere else. -ooo ANOTHER EXAMPLE OF F I L I P I NO G OI NG BAD? Broadcasters Anthony Taberna and Gerry Baja on Friday, June 09, 2017, may have given yet another example

K akampi

Mo A ng Batas

Atty. Batas Mauricio of character degeneration among Filipinos with their report that a high official of the Subic Bay Metropolitan Authority (SBMA) went on an angry rampage simply because another driver overtook him in filling up gasoline in a station inside SBMA. Taberna and Baja reported that the driver already filed a criminal complaint against the SBMA official with the Olongapo City police. The complaint contained a narration about what the official allegedly did: berating Batas/PAGE 11

The concern for accountability Jhan Tiafau Hurst kids or our spouse. But the more we escape from each other and our relationship challenges, the more distant and lonely we become. Why not start a new relationship with your mate and children? Today, you can start changing. You can start tearing down the walls between you and your loved ones, and start building a new, closer relationship with them. First, we have to let go of old hurts and anger toward each other. We must choose to forgive them and begin again. We also must stop having such unfair, high expectations of our kids, wife or husband, so they feel that we’ll only love them if they do what we want. You see, it all begins with starting a new relationship hurst/PAGE 11

Yes, we should all have an abiding concern for accounting everything that we are and that we have. We just cannot go on with our life as if we are not answerable to anybody, especially to God, from whom we all come and to whom we all belong. This is an indispensable part of our life, an unrelinquishable duty to perform. Our problem is that many are still ignorant of this duty, and for those who already know about this, the tendency is to take it for granted or to do it badly or to avoid it if always given the chance. We need to find a way of instilling this duty in ever yone, starting with oneself and then encouraging others to do the same, in the context of the families, schools, parishes, offices, etc. We a l w ay s h av e t o

remember that what we are and what we have are not self-generated but are always given to us one way or another, if not by someone or by some other institution and authority, then by God ultimately. Ye s , w e a re a l w ay s answerable to some people in varying ways and degrees. These people can be our parents, teachers, friends, neighbors, public officials, etc. In the end, we are all answerable to God who has given us everything, starting with our life and all the endowments that go with our life. We need to smash the thought that what we are and what we have are just our own. That is a thinking that is completely false, that stands on no objective foundation. It needs to be corrected drastically and urgently.

Sad to say, it is a thinking that is quite prevalent these days. And so we need to be constantly reminded of this truth, because we always tend to ignore if not openly deny it. We have to be most aware of where we come from, what dignity and status we are given, what duties and responsibilities are entrusted to us, etc. And let’s remember that we need to handle them properly. That is to say, that we are keenly aware of the purpose or reason the giver or author has when giving us what we are and what we have. And we should try to make use of them in the best way we can, making them as productive as possible. Since man’s creation, God our creator has always told us to be fruitful. “Be fruitful and multiply,” he said. “Fill the earth and subdue it. Rule

HINTS

and

Traces

Fr. Roy Cimagala over the fish in the sea and the birds in the sky…” (Gen 1,28) And this command has been constantly reiterated all the way to Christ who in many parables told us clearly to be fruitful. The parable of the three servants (cfr Mt 25,14-30) is one example among many. We have to learn how to be accountable to God and to cimagala/PAGE 11

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AEV units pursue new projects in Cebu

BOITIZ EQUITY Ventures, Inc. (AEV) said its business units are pursuing new revenue sources and launching more projects in Cebu as it positions its brand as a “significant player” in the southern city’s development. In a statement, Jaime J o s e Y. Ab o i t i z , A E V executive vice-president, said subsidiary Visayan Electric Co., Inc. (VECO) is looking to expand its customer base and preparing programs within the distribution utility’s franchise. “For 2017, the expected boost in the grid’s power supply and improvements in the market will require us to gear up our services and programs to attract more potential customers in our franchise areas,” said Mr. Aboitiz, who is also chief operating officer for the distribution business group of AEV unit Aboitiz Power Corp. Cebu remains the

home of some of AEV’s business es involve d in power, construction, land, and banking and financial services. The group moved its corporate headquarters to Manila from Cebu in 2013. AEV said its business units in Cebu “will champion the group’s refreshed brand positioning” under the tagline “Advancing Business and Communities,” which was played up during its annual meeting last month. VECO, the countr y’s second-largest privately owned distribution utility, is planning to include the creation of satellite offices in large communities for easier handling of customer requirements, the holding firm said. Included in its planned initiatives is the certification of its operations under ISO (International Standardization Organization) 9001 QMS (Quality Management System).

It will also roll out prepaid metering, a scheme that allows better household budgeting and monitoring of electric bills, and launch a mobile application for easy access to service requests and billing inquiries. VECO’s underground distribution project from Osmeña Boulevard to P. Del Rosario Street will also continue in 2017, AEV said. In t he const r uc t ion business, Aboitiz & Co., Inc. will pursue new revenue sources by expanding its client base for maintenance work projects outside the traditional mining and shipping industries. The unit was renamed from Aboitiz Construction Group, Inc. in February in a move that seeks to leverage on the Aboitiz brand and to position the business as a full-service engineering and construction company. AEV said it was seeing “he a lt hy prosp e c ts” in structural, mechanical, and

piping works for power plants, industrial plants, and modular fabrication for both local and international markets. It also sees potential in ports and jetty construction; repeat engagement from long-time customers; new markets in site development, civil works, and subcontracted work of various public-private partnerships. “Synergies with sister companies AboitizLand, Pilmico, and Republic Cement will also be strengthened,” AEV said. Aboitiz Land, Inc. plans to keep its foothold in Cebu even with its national expansion plan and the impending transfer of its headquarters from Cebu City to Taguig City. It will build the Foressa Mountain Town residential development in Balamban, as well as mixed-use Gatewalk Central, a joint-venture with Ayala Land, Inc., in Mandaue City and another mixed-use project in Liloan. “2017 is poised to be

AboitizLand’s ‘watershed year’ -- a time to launch new, exciting projects and execute strategies as planned,” AEV said, citing its investments in human resources and refined systems and processes. In banking, City Savings, Inc. is expected to

sustain a growth of around 20% to 30% this year by maximizing its partnership with an outsourced financial services provider, focus in Mindanao, microfinancing, and further development of other products such its “Pensionado Loans.”

PAL resumes flights to KL PHILIPPINE AIRLINES on Thursday resumed its daily flights to Kuala Lumpur (KL) in Malaysia after three years, as it continues to expand its regional footprint and address the demand for direct air service between the two key Southeast Asian cities. The Lucio C. Tan-led airline said Malaysia is a “profit center” in the ASEAN region and the resumption of flights will open up investment opportunities from both countries and direct access to close to 800,000 overseas Filipino workers employed in Malaysia.

“The resumption of PAL flights between Manila and Kuala Lumpur will help foster economic and cultural ties between the Philippines and Malaysia. Most importantly, it addresses the clamor for a direct service between the two capital cities,” PAL President and COO Jaime J. Bautista was quoted as saying. “Through PAL flights and code-share partners, we can carr y passenger traffic from Kuala Lumpur to China, Japan, South Pacific and North America and thus enhance our ASEAN flights/PAGE 11

Vehicle sales CEB and Visa begin long weekend with an exclusive international seat sale up 17% in Offers one-way fares to international destinations for as low as P1, 099 ALL-IN May 2017 The Philippines’ leading up on their travels during Kalibo, or Manila may also our valued guests to grab only need to input the SALES of automotive vehicles in May 2017 rose by 17 percent to 35,469 units from 30,317 units in the same month in 2016, the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) reported Friday. The growth in car sales for May this year was driven by the double-digit growth in sales of commercial vehicles at a rate of 22.4 percent year-on-year while sales of passenger cars improved by sales/PAGE 11

airline, Cebu Pacific (PSE: CEB), ties up with Visa to give more people the freedom to travel with an all-inclusive seat sale to some of the most popular international destinations within CEB’s extensive flight network. Beginning today until June 16, 2017, Visa cardholders will be able to avail of special fares to nine of CEB’s 26 international destinations. Flights will be for travel from July 1 to November 30, 2017, perfect for those who want to catch

the upcoming four long weekends. Flights to Hong Kong from Cebu, Clark, Iloilo or Manila are for sale at only Php1, 099, as well as flights to Singapore from Cebu, Clark, Davao or Iloilo. Cardholders may also opt to visit Taipei either from Cebu or Manila for the same affordable fare. Thos e interested to visit Singapore, Busan, Guangzhou, Xiamen from Manila will be able to do so for as low as Php2, 099; passengers from Cebu,

fly to Incheon for the same low fare. Also included in this sale are flights to Beijing and Shanghai from Manila sold at only Php3, 099. “For five years now, we have been working hand-inhand with leading financial services organization Visa in providing great travel deals, which in turn, allows us to ensure we remain committed in fulfilling our promise to make travel accessible for everyJuan, not only within our archipelago but to the rest of the world as well. We encourage all

this opportunity and book flights to these wonderful destinations right away,” said Candice Iyog, CEB Vice President for Marketing and Distribution. All fares quoted are for one-way flights, and are inclusive of countryspecific taxes, web admin f e e an d t e r m i n a l f e e . Baggage allowance, meals, travel insurance and other ancillaries may be added to the fare upon the preference of passengers. To avail of this exclusive seat sale, Visa cardholders

promotional code “VISA” through www.cebupacificair. com. Terms & conditions apply. For bookings and i n qu i r i e s , g u e s t s m ay also call the reservation hot li ne s (+6 3 2 ) 7 0 2 0 888 or (+6332)230-8888. Guests may also download the Cebu Pacific official mobile app on the App Store and Google Play.The latest seat sales can be found on CEB’s official Twitter (@CebuPacificAir) and Facebook (www.facebook. com/cebupacificair) pages.

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Samal Island

“The Jewel of Davao Gulf” T

By Joe Palabao

o the many foreign, domestic and local Tourists, Island Garden City of Samal (IGACOS) is the Island, the garden, the city and an urban center in a garden setting. Samal Island is a Paradise and is considered by the Tourism Industry of the country as “The Jewel of Davao Gulf”. With a total land area of 30,130 hectares being surrounded with Crystal clear waters, pristine white sand beaches , inland resorts and waterfalls, it is no wonder that tourists that has reached a million in 2016, come to explore Samal Island and dubbed as the biggest resort island in the Region. Tourists usually enjoy in exploring the sand and beach of

Small Ligiuid Island, Kaputian, Talikud, Inland Resort,. Malipano Island, Babak, Samal and the Sanipaan Marine Park. Feel Nature and Adventure of the Island Garden City of Samal as is also known for its wonderful sites for scuba diving. Experience underwater photographers describe the island as haven for macro photography. Marine species which are almost extinct in other places are observed to be a plenty in Samal Island. The whole island is a Haven for diving and snorkeling but the more popular ones are Mandy’s Wall. Coral Garden and Angel’s Cove in Talikud; Big

and Small Ligiuid Islands; Aundanao, Sanipaan Marine Park, Tagbaobo and Adecor the home of the thousands giant clams (Taklobo). Samal Island is now considered as one of the best diving sites in the Philippines and in Asia. Discover the magical and stunning Samal Island through trekking, spelunking, biking, hiking, the Island offers this to all adventure seekers. The breathtaking Puting Bato and Anggas Peak are favorites for trekking; challenging routes are available for those who love biking; Baga Cave, Dadatan Cave, Tamburong Cave, Manan.aw caves are ideal for spelunking. Aimed to further increase tourists arrivals in the Island City, the Local Government Unit under the dynamic Leadership of Hon. City Mayor AL David T. Uy with Samal Island Tourism

The Mesmerizing Hagimit Falls

Council have conceptualized Summer Festivities to entertain locales and tourists alike. March to May: Visit Samal Island, Summer Saya SA Isla. It is the most exciting activity during Summer. The Island offers a wide-array of exciting activities in a year from outdoor adventures to entertainment. Bb.

Island Garden City of Samal, Sayaw Sayaw SA Todak, Island Float Competition, Triathlon, Bigiw Regatta sa Isla Competition, Sand Sculpting, Competition, Sikad Road bike Competition, Isla Pintados, Disenyo Marina, Samal Marathon , Mardi Gras, Face of Samal Island Runway,

and the Annual Pangapog Festival during the month of August and December Paskohan sa Isla. The LGU of Samal Island invites everyone to celebrate with the Samalenos in all their Attraction Marketing efforts and be part of their progress and Development. Kudos!!!

Digital comic therapy in schools By JUVY J. SACLOTE Teacher III

COMICS tap into fundamental aspects of human cognition. They reflect a natural multimodal method of expression which optimizes communication. It’s indeed an emerging role in classroom education. In the next few years, expect several research groups to publish their conclusions on the impact of digital comic generators in the classroom. Since 2006, almost 20 new digital comic educational sites have been launched. These digital sites are effective tools to incentivize students to become active participants in their own education. This research trend corresponds with the growth in comic generator sites. More and more teachers are capitalizing on the influence of popular comic culture

giving their students the visual materials to represent their own world. It’s an effective medium pushing talented students. It lessens students’ stress levels by using comic characters they create and are comfortable with. The comic strip helps them to communicate their feelings with their classmates. With several different comic layouts available to help organize thinking and presentation, teachers create differentiated instructional plans based on a student’s ability. Both can create comics, social stories, summaries and scientific explanations by blending images and text. Usually, teachers use digital comic generators in her classes three times a week.

The dream of Mark Zuckerberg By MARY ANN C. MAGDALE Principal I

M IC RO S OF T p e d d l e s laptops. G o og le touts services such as collaborative calendars and spreadsheet-making software. After building their products that students can use, it’s not surprising that tech giants – from actual computer companies to other Silicon Valley darlings like Netflix – are wedging their way into education itself. Most tech leaders are getting in by making learning apps or even partnering with individual school divisions. F a c e b o o k ’s M a r k Zuckberberg has a slightly different and much more audacious idea. Zuckerberg’s goal is for a billion students across the world to be able to learn on their own via software that his company helps build with teachers merely looking over their shoulders. It’s a conception that

upends a longstanding teaching dynamic. Now educators are no longer classroom leaders but h e l p m at e s . In p u b l i c remarks and Facebook posts, Zuckerberg has described how it works – students clustering together, working at laptops. They use software to select their own assignments, working at their own pace. And should they struggle at teaching themselves, teachers are on hand to guide them. Corollary to that, the Chan Zuckerberg Initiative stated in March that it will offer a free online software for customizing classroom instruction by the end of the year. The tool empowers teachers to customize instruction to meet their students’ individual needs and interests but its ultimate aim is to have teachers serve as mentors and evaluators, not instructors.

Banking&Finance

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monday|june 12, 2017

Tax reform package a ‘win-win’ for Filipinos

HE approval by an over whelming majority in the House of Representatives of the first package of the Duterte administration’s C o m p r e h e n s i v e Ta x Reform Program (CTRP) is a “win-win” package for the Filipino people as it accomplishes the government’s twin goals of increasing the purchasing power of workers while raising spending for the poor, according to Finance Secretary Carlos Dominguez III. Dominguez said the CTRP’s first package, also known as the Tax Reform for Acceleration and Inclusion Act (TRAIN), and other complementary measures will create for the government significant

fiscal space estimated at some P133.8 billion in 2018 alone, representing 0.8 percent of the Gross Domestic Product (GDP), which “will be used only for enhancing infrastructure, housing, education, health and social protection.” “We are happy that the House of Representatives p ass e d t he t a x re for m package last May 31 with a majority of 246 congressmen w ho voted for it. This represents 90 percent of the Filipino population. The overwhelming support from the House shows how seriously they consider the tax reform because it benefits the far majority of Filipinos, and everyone wants to see the economy grow and benefit them in the coming years,” Dominguez

said at a press briefing after the 170th meeting of the Development Budget Coordination Committee (DBCC) on Friday (June 9) at the DOF central office in Manila. “This is an important milestone signaling a strong possibility that this package may be enacted into law shor t ly af te r C ong re ss resumes this July. The earlier the reforms are acted upon, the better we could plan for the 2018 budget,” he added. Dominguez said the Department of Finance (DOF) and other agencies under the government’s economic team will continue to work hard to ensure that the Senate will pass a similar or even better version of the TRAIN that is consistent with the DOF proposal,

when the Congress reopens for its second regular session in July. Contrary to “rumors” that TRAIN is anti-poor, Dominguez said that taken as a complete package, the reforms spelled out in the bill “will enhance the inclusiveness of our economic growth and move us closer to the goal of bringing down poverty incidence to only 14 percent by 2022, or lifting 6 million Filipinos from poverty.” “We take heart at the fact the passage of the tax reform measure was welcomed by nearly all stakeholders: businesses, international d e v e l opm e nt p a r t n e r s , credit rating agencies and, most of all, wage earners,” Dominguez said. reform/PAGE 11

ASIA UNITED Bank Corp. (AUB) bag ged a credit upgrade from Philippine R atings S er vices C or p. (PhilRatings) on the back of t h e l e n d e r’s s t ron g profit growth and sound governance practices. Philippine R atings Services Corp. raised Asia United Bank Corp.’s credit rating on the back of the

lender’s strong performance. In a disclosure to the Philippine Stock Exchange, the listed lender said it secured a PRS Aa plus (corp.) rating, one notch above its previous PRS Aa (corp.) score. It is the secondhighest investment grade given by PhilRatings, which is a local debt watcher that assesses the creditworthiness

of businesses and financial entities. The bank is seen to have a “strong capacity to meet its financial commitments relative to that of other Phi lippine cor p orates,” AUB told the local bourse yesterday. In granting the upgrade, PhilR atings factored in AUB’s “highly experienced”

management, the bank’s “more than satisfactory” funding profile and stable income growth, and its “competitive” expansion strategy, on the back of expectations that the banking industry will be able to ride on the positive outlook for the Philippine economy. credit/PAGE 11

Asia United Bank gets credit upgrade from PhilRatings

Enhancing trade prospects between PH-Switzerland. Swiss businessmen and officials led by Swiss Ambassador Andrea Reichlin (seated; center) remain upbeat in advancing trade relations with the Philippines as the Department of Trade and Industry’s (DTI) Undersecretary for Trade and Investments Promotion Group Undersecretary Nora K. Terrado (seated; rightmost) met with the Philippine-Swiss Business Council (PSBC) at their General Membership Meeting on 7 June 2017 in Taguig City. Speaking before over 30 Swiss and Filipino businessmen, Terrado assured Swiss investors about the robust growth momentum of the Philippines that has not been affected by recent events. Terrado further emphasized deeper economic relations between PH-Swiss in various sectors including electronics, aerospace, processed and specialty food, information technology, energy, and infrastructure among others. Switzerland stands as the country’s 23rd trading partner, 19th export market and with over $8.68M IPA-approved investments in 2016. Among the top Swiss companies in the Philippines with over a hundred years presence in the country is Nestle Philippines. In 2016, Switzerland played a vital role as it serves as co-chair of the negotiations for the free trade agreement (FTA) between the Philippines and the European Free Trade Association (EFTA). Also in photo (from left to right): (seated; leftmost) PCCI Chairman Ambassador Benedicto V. Yujuico; (standing) representatives from the PCCI Secretariat and PSBC Big Brother Programs namely, Melanie Zoref, Luis Mendez, Reiner W. Gloor, Pat Cortez, Ernesto Mascenon, Benjie Los Banos.

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LifeStyle

Ribs & Bibs now open at SM CDO Downtown Premier B Story by MARK FRANCISCO | Photos by ERCEL MAANDIG

ABY back ribs are taken from the top of the rib cage between the spine and the spare ribs below the loin muscle. They have meat between the bones and on top of the

bones and are shorter, curved and sometimes meatier than spare ribs. The rack is shorter at one end due to the natural tapering of a pig’s rib cage. Undoubtedly,

the best baby back ribs in Cagayan de Oro can be found at Ribs & Bibs. This time, the authority when it comes to the best ribs has just installed itself a branch at the fifth level of SM

CDO Downtown Premier. Ribs & Bibs at SM CDO Downtown Premier is the restaurant’s third branch, having opened its second one at Centrio last December

following their founding at JR Borja-Corrales a few years back. Actually, baby back ribs solo has evolved into Mommy Back Ribs (good for two persons) with two glasses of free iced

tea and Daddy Back Ribs (good for three persons plus a pitcher of iced tea). Ribs & Bibs also sells a variety of Angus meals – ribeye, porterhouse and T bone.

Happy 8th Anniversary! Greetings from:

Hon. ROSEMARY LORNA V. UY Barangay Chairman Carmen, Cagayan de Oro City

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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

Jobless... from page 1

3 percent by 2022. This is among the key targets in the Philippine Development Plan 2017-2022. Based on the April 2017 Labor Force Survey (LFS) of the Philippine Statistics Authority, an attached agency of the NEDA, the country’s unemployment rate went down to 5.7 percent from 6.1 percent in April 2016. Underemployment rate, or the proportion of employed persons wanting additional work, also reached its lowest in more than 10 years at 16.1 percent in April 2017. This is lower by 962,000 workers, or 12.9 percent, compared with underemployed workers recorded in April 2016. Meanwhile, employment in the agriculture sector rose by 125,000 workers, industry increased to 7.4 million workers, while manufacturing hired additional 55,000 workers. “Increased activity confirms the renewed positive outlook of exporting firms that had anticipated increases in the volume of export production,” said Pernia. However, the services sector —which accounts for more than half of the country’s total employment— recorded a net employment loss of 557,000 workers. “This loss could be an effect of the 2016 election spending fully tapering off. It is possible that recent changes in labor policies regarding contractual workers may have had an adverse effect on firms’ hiring decisions,” added the NEDA chief.

Reprieve... from page 1

equipment owned by the provincial government of Misamis Oriental when Moreno was still governor. But Mordeno hinted that the Ombudsman could have violated the rule against legal forum shopping considering that the same case is pending before COA. T h i s , a f t e r Mo r e n o earlier appealed before the commission to review a special audit that was conducted at the Capitol concluding that there was absence of public bidding, rigged/simulated procurement and incomplete documents in the lease of heavy equipment between 2011 and 2012. COA has yet to act on the petition when the latest Ombudsman’s decision came about. Even then, the Ombudsman noted in its decision that “the appeals do not foreclose the (Ombudsman’s) authority to investigate (sic) because (it) is given the power to investigate on its own an illegal act or omission of a public official.” The case stemmed from Moreno’s approval for lease payment of fuel tankers, trailer trucks and vibratory road rollers. But Mordeno argued in his appeal before the Ombudsman that Moreno’s

signatures in the documents in question do not necessarily mean that “he acted to conspire.” “Moreno is necessarily at t h e t ai l - e n d of t h e procurement process when he approved and signed documents to disburse the rental expenses. This is known as the Arias doctrine,” Mordeno said, citing a 1989 Supreme Court ruling that the head of office is not required to examine every single detail of any transaction from its inception until it is finally approved. Me anw h i l e , More n o accused his political rivals of politicking after they have insisted for a special audit on the Capitol’s heavy equipment rentals despite the absence of any adverse finding on the yearly regular audits for 2011 and 2012. Moreno was referring to Misamis Oriental Gov. Yevgeny Vincenti “Bambi” Emano, son of his political archrival and former Cagayan de Oro City Mayor Dongkoy Emano. Gov. Emano, however, rebuked Moreno’s accusations saying that someone else could have followed up the case in the Office of the Ombudsman. “I think as good citizens we should follow what was being ordered by the Ombudsman. Dili na nato kinahanglan nga ipahid pa ngadto sa lain ang atong salaod nga nahimo,” Emano said.

Choco... from page 1

Madagascar 100% Cocoa Organic, and The Chocolate Quarter Tetteh Drinking Chocolate in the United Kingdom. The Academy of Chocolate made the announcement on June 5. Full results of the Academy of Chocolate Awards 2017 are available on its website – acadofchoc. com. All entries were judged by a pool of judges composed of international journalists, chefs, pastry chefs and experts in chocolate and food, based on product’s appearance, depth of aroma, flavor, length and complexity. In a press statement Thursday, chocolate maker Rex Puentespina, director for sales and marketing of the Malagos Agri-Ventures Corp., attributed the victory to the “hard work and dedication that the farmers put in the preparation of the cocoa bean before it even becomes chocolate.” This has brought to five the company’s major international awards. The Ac ademy of C ho col ate awarded the company silver under Drinking Chocolate category for its unsweetened chocolate in 2016 and bronze under Best Unflavoured Dr in king C ho colate in April 2015; the Great Taste Awards in London gave two out of three stars to Malagos unsweetened chocolate in 2016; and another silver for the Malagos Dark Chocolate won during World Drinking Chocolate C ompetition

organized by the International Chocolate Awards in October 2015 in Hannover, Germany. Puentespina said their “chocolates are tree-tobar”, meaning the process of making the products, from planting, growing, fermentation, drying, sorting, roasting, and production, is done right at their farm in Calinan District where it runs its own Bureau of Plant Industry-certified cacao nursery at the foothills of Mount Talomo. The company also supplies seedlings, seeds, and scions all-over Mindanao. He said the tree-to-bar chocolates possess a more distinctive and pronounced taste as the chocolate can be traced back to the unique characteristics of the cacao beans. “We grow Trinitario clones, a cross between the Criollo and Forastero varieties, specifically and predominantly the UF 18, BR 25 and PBC 123 clones. The beans we grow are considered as fine flavor beans. These beans are manually harvested then fermented on the farm to further enhance naturally the complex flavor of cocoa,” he said. B eing in agriculture for t h re e d e c a d e s , t he Puentespina family went into chocolate business in 2012, with premium singleorigin cocoa liquor as its first product until it branched out to Malagos 65%, 72%, and 85% Dark Chocolates, and Malagos Roasted Cocoa Nibs. Its chocolates are exported to Japan, Thailand, Singapore, London, Australia, New York and other parts of the United States.

MisOr... from page 2

proposals on the governor’s table as there will be funds readily available when it passes the government standards on budget allocations and fundings. “So, you take advantage. Kung naa moy gwapo nga ideas, let us know,” governor Emano reiterated his call and challenged the agriculture officials to strengthen their

ties with the farmer groups to ultimately achieve their goals for the betterment of the people of Misamis Oriental. (PIO)

Needs... from page 2

composed of Emergency Medical Services (EMS) and Urban Search and Rescue (USAR) teams, reported to Iligan city. Monsanto serves as the incident commander of the NIMT. Meanwhile, Usec. Jalad dispelled speculation of torture in Marawi saying, “There is no case of torture being reported.” Going back to the welfare of the Internally Displaced Persons (IDPs), Jalad said that the Department of Social Welfare and Development (DSWD) distributed food items. Most of the evacuees wants to cook their own food, they have water, drinking waters should be provided in the evacuation centers even when they receive some water donation, providing the needs of the IDP’s are the top priority and there is assurance for the sustenance of provisions. For those organizations that conducts rescue in Marawi City, Jalad said that securing coordination with OCD, and LGU is a must. The goal is good, rescue operations are being encouraged but of course there should be clearance from the OCD, and appreciation to the civil society organizations (CSO’s) are given. Jalad further said that the NDRRMC when it comes to the effect of consequence, all the government can do is still address the needs of the affected persons, to address the crisis, which is human induce d, t he op erat ing arm of the government, is the AFP, when it comes to consequence management. But when it comes to natural disasters, the mechanism represented to NDRRMC has no security threat, but the main threat is the natural hazard, as we can see two mechanisms are being applied. (EOR/PIA)

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KTM... from page 3

sold per year. Art Tan, AC Industrials CEO, disclosed that the Ayala group’s foray into motorcycle assembly is in line with the company’s push in bolstering its growing manufacturing portfolio. “We are further expanding our capabilities as part of our thrust of fostering synergies with Ayala companies,” Tan said. “Combining the competencies of our manufacturing and distribution arms allows us to scale our presence in this space, taking advantage of evolving movements in technology, automation, and industrial technology.” Meanwhile, Dino Santos, KAMMI’s President and COO, extolled the impact the plant’s opening has to Filipinos and the Philippine economy. “This investment is part of our belief that manufacturing should be a key driver of our country’s inclusive growth going forward,” he explained. “It provides jobs, supply chain opportunities, and helps put the country in the map as a center for innovation and industrialization.” Moreover, they hope to ramp up their net work to 32 de a lers nationwide this year, each one providing sales and aftersales support. With this development, AC I n d u s t r i a l s – w h i c h cons olidates t he Aya la Groups automotive and manufacturing segments — seeks to play a bigger role in manufacturing and contribute to the country’s rise as a Southeast Asian (ASEAN) industrial hub. Furthermore, this bold move is deemed a milestone not only in the Ayala Group’s history, but for the country as well.

Everest... from page 3

“Additionally, our Ford Island Conquest roadshow has so far been very successful in providing even more access to our brand in key locations around the country and a unique test drive experience with our Ford vehicles.”

Hurst... from page 4

with the One Who gave us each other. In fact, Jesus died just so you and I could be forgiven of all our wrongs and enjoy a daily, personal relationship with Him. So why not ask Jesus to forgive you and take charge of your new life with Him? He’s the One Who can give you His kind of love and power you need every day to start building and enjoying the close, happy family you want. Just Think a Minute…

Bunye... from page 4

“Likha” provides insights into our evolution as a nation and instills a strong sense of identity as a people. Leafing through its pages makes one proud to be a Filipino. T h e s e c on d b o o k “Philippine Central Banking: A Strategic Journe y to Stability” -compiles in one volume the challenges the BSP

faced over the past decade and how it managed the evolving conditions, all for the singular purpose of coming out better than before. The book provides readers a front row view of BSP’s operations and its track record. It also tries to answer the question: Where do we go from here? The book includes articles written by Deputy Governor D i w a C . G u i n i g u n d o, incoming BSP Governor Nestor A. Espenilla, Jr., Dr. Johnny Noe E. Ravalo, Dr. Francisco G. Dakila, Jr., Micaela G. Alvarez, Ma. Ramona GDT Santiago, Alphew Cheng, Lorelei Fernandez, Ma. Mediatriz Boelsch, Dahlia D. Luna and former Deputy Governor Vicente S. Aquino. Both the foreword and final chapter were written by Gov. Tetangco. BSP’s earlier books on central banking include “Money and Banking in the Philippines– Perspectives from the Bangko Sentral ng Pilipinas,” “The BSP and the Philippine Economy”, “C e nt r a l B an k i ng i n Challenging Times” and “Annotations on The New Central Bank Act, The General Banking Act and the Special Banking Laws”. Rumbaoa Fourth Solo Art Exhibit Congratulations to BSP inhouse artist Yannie Rumbaoa, who opened his 4th solo exhibit last week at the BSP Security Plant Complex, with BSP Governor Amado M. Tetangco, Jr. and Assistant Governor Dahlia D. Luna, as special guests. Entitled “3 Decades of Passion”, Rumbaoa’s exhibit showcases 32 of his best works which includes wellinspired paintings and bas relief engravings inspired by his Italian professors. The exhibit will run from June 9 to June 30, 9 a.m. to 4 p.m. , Mondays to Fridays. The artist announced that the proceeds will assist infant patient Caleb A. Dionisio in the latter’s forthcoming liver transplant. Note: You may email us at totingbunye2000@gmail. com. You may also “like” us on Facebook at “Speaking Out”.

Batas... from page 4

the driver and repeatedly asking if the driver did not know who he, the official, was, and hurling invectives against the driver, only because that driver insisted filling up first. Indeed, how could s omeb o dy o cc upying a high and lofty position, in a government agency as sensitive as the SBMA, stoop so low as to personally confront a lowly driver only on account of who gets to gas up first? What was the official thinking in the first place---that because he was high up at the SBMA, he is already entitled to deference from everyone? Isn’t this love of self of the highest order, as the Bible said? -ooo WATCH “ANG TANGING

DAAN” AT FACEBOOK: Please watch “Ang Tanging Daan”, a Bible exposition and prayer session for everyone, in English and Filipino, at w w w. f a c e b o o k . c om / angtangingdaan. Reactions: 0917 984 24 68, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

Cimagala... from page 4

others. One concrete way of doing that is by making a daily examination of conscience before going to bed. This will allow us to see how we fared during the day, whether we were fruitful or not, and to make the necessary plans for the following day. “Without cost you have received. Without cost you are to give.” (Mt 10,8) For sure, with these words of Christ, we are strongly reminded to be generous, to give ourselves completely to God and to others, sparing and keeping nothing for ourselves, because God has been generous with us. He gave nothing less than himself to us. And he wants us to share what we have with everybody else. This should be the attitude we ought to develop when we have an abiding concern for accounting all that we have received from God. roycimagala@gmail.com

Flights... from page 6

network,” he added. PAL said it is deploying the Airbus A321 on the route. The 199-seater aircraft has 12 seats in business class, 18 in premium economy and 169 in regular economy. “The decision to return to Kuala Lumpur comes after PAL and Malaysia Airlines expanded their code-share arrangement. The enhancements include code-sharing on 12 domestic Malaysian destinations and nine domestic Philippine destinations,” PAL said in its statement. Philippine Airlines halted its flights to Kuala Lumpur in 2014. The expanded code-share agreement would allow PAL to reach the following points in Malaysia: Alor Setar, Johor Bahru, Kota Bharu, Kota Kinabalu, Kuala Terengganu, Kuching, Labuan (Sabah), Langkawi, Miri (Sarawak), Penang, Sibu (Sarawak), Tawau (Sabah). In the Philippines, it would also expand the reach to key cities including Bacolod, Cagayan de Oro, Cebu, Davao, General Santos, Iloilo, Kalibo, Puerto Princesa, Caticlan.

Sales... from page 6

7.3 percent. Sales of commercial vehicles in May 2017 reached 23,779 units from 19,424 units in May 2016. Sales of passenger cars reached a total of 11,690 units, higher than last year’s 10,893 units. “Sustained marketing efforts continue to push sales as reflected in May sales performance,” CAMPI President Rommel Gutierrez said.

May’s figure pushed fivemonth sales of CAMPI and TMA to 158,533 units this year, an increase of 17.9 percent from January to May 2016 sales of 134,487 units. Commercial vehicle sales remained the growth driver in January to May 2017 period with sales accelerating by 25.2 percent compared to passenger cars, which grew by 5.7 percent from the same period in 2016. Total units of commercial vehicles sold in the first five months of 2017 rose to 105,030 units from 83,878 units in the same period in 2016, while passenger cars sold 53,503 units this year from 50,609 units last year. Market leaders for January to May 2017 period were Toyota with 43.67 percent market share; Mitsubishi with 17.83 percent market share; Ford with 8.47 percent share; Isuzu with 7.02 percent share; and Honda with 7.0 percent share. (Kris M. Crismundo/ PNA)

Reform... from page 8

He added: “The package accomplishes the dual goals of increasing disposable income for our workers and increasing spending for the poor. It is a win-win package for our people.” While tax policy reforms are being pushed in the Congress, Dominguez said the DOF will continue to institute reforms in the Bureaus of Internal Revenue (BIR) and of Customs (BOC) to improve tax administration and boost revenue collections. “While awaiting the passage of the tax reform package, we have been working double-time doing the necessary administrative reforms in our revenue agencies. This has yielded early fruit. C ollections growth in both the BIR and Customs is at double-digits. Meanwhile, the DBM is working hard to ensure the spending plan for this year is accomplished fully,” he said. “Moving forward, the administ rat ion and its partners in civil society and the private sector will work hard to ensure that the Senate will pass a package, consistent with the administration’s proposal, especially since the President has certified this already as an urgent and priority measure,” Dominguez said. The finance chief said the government’s revenue and spending program “is well on track” to support the Duterte administration’s “Build, Build, Build” infrastructure program as well as to increase spending on housing, health, education and social protection for the poorest of the poor. He said that under TRAIN, 83 percent of Filipinos will be spared from paying income taxes that will greatly increase their disposable income, which, in turn, will further rev up domestic market growth. “ This toget her w it h complementary measures is expected to create significant fiscal space amounting to P133.8 billion (0.8 percent

of GDP) in 2018. These incremental revenues will be used only for enhancing infrastructure, housing, education, health and social protection,” Dominguez said.

Credit...

from page 8 AUB is the 15th biggest bank in asset terms as of end-2016, according to data from the Bangko Sentral ng Pilipinas. “AUB will continue to anchor it s c omp e t it ive strateg y on its modern technolog y platform, expanding branch network and highly experienced management. These initiatives are seen to support AUB’s goal of continued double-digit growth for its balance sheet and profitability, going forward,” the bank’s statement read. The b an k ow ne d by tycoon Jacinto L. Ng of the Rebisco group booked a P657.591-million net income during the first three months of 2017, 14.8% higher than the P572.93-million profit it generated during the

comparable period last year. The higher income came on the back of a double-digit rise in interest income from loans and receivables, alongside a 9.7% expansion in its asset base that amounted to P173.114 billion. Total loans grew by 12% to reach P100.297 billion from Januar y to March, driven by higher commercial credit, including a rise in retail lending for auto, housing, and salary loans that posted double-digit increases. Despite this, the share of soured debts stood at just 1.8% of its total loan portfolio. Cost-to-income ratio stood at 52.9% from 54.5% a year ago. O n t he ot he r h and, deposits totalled P135.752 billion, up by nearly a tenth f rom P 1 2 4 . 2 2 4 b i l l i on the previous year on the back of the bank’s branch expansion activities and a “more intensified” depositgeneration campaign. The bank operates 238 branches nationwide as of end-March.

Republic of the Philippines Regional Trial Court 10th Judicial Region Branch 16, Tangub City IN THE MATTER OF THE PETITION FOR CORRECTION OF ENTRY IN THE BIRTH RECORDS OF HAZEL CORPUS RECTO CHANGING THE DATE OF BIRTH FROM February 13, 1954 TO February 13, 1984.

SPECIAL PROCEEDING CASE TC-2016-043

THE LOCAL CIVIL REGISTRAR HAZEL CORPUS RECTO, -versus- OF TANGUB CITY, MIS. OCC. Petitioner, Respondent,

/--------------------------------------------------------------------------/ 2nd NOTICE OF HEARING

WHEREAS, after alleging certain facts in a verified petition filed on June 16, 2016, petitioner prayed that after notice, publication and hearing, an order be issued directing the Local Civil Registrar of Tangub City, Mis. Occ., to make the following correction in her record of birth, to wit: Year of birth from “1954” to “1984”. WHEREFORE, finding the petition in due form and substance, the hearing of the same is hereby set on June 14, 2017 at 8:30 o’ clock in the morning, at the Session Hall of this Honorable Court, at which date, time and place, any concerned and interested person may appear and show cause, if any, why said petition shall not be granted. The Sheriff of this Honorable Court is hereby ordered to post copies of this Notice in three (3) conspicuous places, preferably in the Bulleti Board of this Court, the City Hall of Tangub City, and the Barangay Hall of Lorenzo Tan, Tangub City, Mis. Occ. Moreover, let a copy of this petition and notice be published once a week for three (3) consecutive weeks in a newspaper of general circulation in the province of Misamis Occidental, all at the expense of the petitioner, for the information and guidance of all concerned. Also, let a copy of this petition and notice be furnished the petitioner, the Office of the Solicitor General, and the Local Civil Registrar of Tangub City. Any person having or claiming any interest under the entry whose correction is sought may, within fifteen (15) days from notice of this petition, or from the last date of publication of such notice, file his opposition thereto. WITNESS, the Honorable SYLVIA A. SINGIDAS-MACHACON. Presiding/Executive Judge, this 10th day of May 2017.

(SGD.) ATTY. MARCELINO D. NATIVIDAD, JR Clerk of Court-VI

BWM: May 29, June 5 & 12, 2017

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