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Briefly CDO’s P2.4B budget THE CAGAYAN de Oro City Council has enacted on June 13 Ordinance No. 13081-2016, approving the 2016 annual budgets of the General Fund with an estimated income of P2,247,054,056 and of the Special Account: Economic Enterprises with estimated incomes of P63,400,705 for the City Economic Enterprises and P13,512,112 for the EastWestbound Terminals and Public Market, and P136,033,127 for the J.R. Borja General Hospital, to finance various estimated expenditures of the same amounts, respectively for calendar year 2016. Councilor Alden Bacal, vice chair of the committee on finance and ways and means, said this year’s P2.460 billion budget is 18-percent higher than last year’s budget of P2.08 billion.

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PLDT rebrands, pumps capex to boost services www.businessweekmindanao.com

Sat-Mon | June 18-20, 2016

By CHENG ORDOÑEZ, Executive Editor

Piñol to employ farmers affected by drought

AKATI City -- Philippine Long Distance Telecommunication, Inc. (PLDT) and Smart Communications Chairman and Chief Executive Officer Manuel V. Pangilinan is set to pump an additional P3-billion investment for fourthand fifth-generation (4G and 5G) cellular infrastructure. Pangilinan announced t h e a d d i t i o n a l c ap i t a l expenditures during the company’s 2016 Annual Stockholders Meeting held

on June 14 at the Shangri-La Makati. The annual event was highlighted by the launching rebrands/PAGE 11

By ANTONIO L. COLINA IV

BIG BOSS. PLDT top honcho Manuel Pangilinan is gearing up for advanced cellular services.

Vivant to pour in P3-B for Cebu, Mis Oriental power generation projects

Asia’s top University XAVIER University - Ateneo de Cagayan debuted in the 2016 Asian university rankings released by Londonbased education and career consultancy Quacquarelli Symonds (QS). XU secured a spot in the 251-300 bracket in the QS University Rankings, released on Tuesday, June 14. “I am very pleased to inform the community that Xavier University was included in the 2016 Asian university rankings released by Quacquarelli Symonds,” XU President Fr Roberto C Yap SJ said. “The QS University Rankings Asia highlights the top 350 Asian universities.”

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BALIK-ESKWELA DISKWENTO. A passerby looks at the goodies on sale at the Balik Eskwela Diskwento Caravan held over the weekend at City Hall grounds in Cagayan de Oro City. The seasonal Diskwento Caravan is a project of the Department of Trade and Industry (DTI). PHOTO BY MARK FRANCISCO

CEBU-based energy firm Vivant Corporation (Vivant) is eyeing P3 billion in additional investments to finance further expansion of its power generation portfolio. In a statement following its Annual Stockholders’ meeting, the Garcia-Escano

family owned firm said that its generation capacity has reached 252 MW as of end2015. A 55 percent expansion is expected once ongoing projects are completed, for which the firm will need additional equity infusion. vivant/PAGE 11

Surigao priests decry proposed limestone quarry By ROEL CATOTO, MindaNews

GIGAQUIT, Surigao del Norte -- Roman Catholic priests in this municipality have been reiterating their call against the planned limestone quarry activities in the village of San Isidro. Fr. Nick Penados, the

parish priest of Gigaquit, told MindaNews Wednesday that they don’t want to allow any mining or limestone quarrying activity in the town, worried of its adverse effects on the environment. Fr. Mario Noblefranca,

Penados’ colleague in the parish, said the town doesn’t need the presence of a limestone quarry, adding that the people have survived without it. Penados told the crowd during an anti-quarrying meeting last Saturday at the village’s covered basketball

court that limestone quarrying would only ruin the environment of Gigaquit. The priest warned that the limestone quarry company would only make good promises to the constituents and these would never be materialized. quarry/PAGE 11

DAVAO City -- Incoming agriculture secretar y Emmanuel “Manny” Piñol is planning to employ farmers in El Niño-stricken areas through the cash-for-work program to assist them in the recovery stage. Piñol told a press conference at the Grand Regal Hotel Thursday that two days after he was informed by President-elect Rodrigo R. Duterte of his appointment, he went around the provinces across the Philippines to see for himself the extent of damage caused by the drought. “I started ‘Byaheng Bukid’ which brought me to different parts of the country. Except for the island provinces, I virtually covered the entire country. I reported to the president that the effects of El Niño was really worse that farmers really need help soon,” he said. He proposed to Duterte that a cash-for-work program be employed to assist the affected farmers and the fisherfolks adversely affected by the El Niño phenomenon two to three months after Duter te takes over the presidency. Though he did not give an offhand count, Piñol said the government still has remaining funds that are employ/PAGE 11

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2013 ppi’S Best in Business and Economic Reporting

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Economy

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island provinces Cagayan de Oro City remains ARMM soon to have stable Normin’s educational center power supply soon THIS trading hub of Northern Mindanao has now metamorphosed as the education center in the region, City Mayor Oscar Moreno said in his ‘term report’ here. “With the city g o v e r n m e n t ’s s t r o n g emphasis on uplifting the state of education here, the city’s educational status has now turned into our crown

jewel,” Moreno said. In his term report as city mayor from 20132016, Moreno said that his administration has constructed 441 classrooms all over the city that can provide the demand for more school facilities for the incoming senior high school students. Without naming schools, Moreno said that the presence

of the outstanding schools in the city has become essential in developing the country’s future movers and shakers. One major factor that has contributed to the transformation of the city’s education as the regional education center is the construction of hundreds classrooms for elementary and secondary education here, Moreno said.

The newly constructed school buildings and classrooms prepare Cagayan De Oro City as one of the cities that could handle the influx of senior high school students under the K-12 program of the government. Since some nearby areas in the city’s neighboring towns and villages have classroom shortage, students center/PAGE 11

MARAWI City -- The island provinces of Autonomous Region in Muslim Mindanao (ARMM) will soon experience stable supply of electricity after a local corporation made a commitment to improve the power situation in the three areas. Kaltimex Rural Energy Corporation, after securing a power purchase agreement from the Tawi-Tawi Electric

Cooperative, decided to make available a P400-million eight-megawatt diesel-fed power barge in Tawi-Tawi. The project will expand its capacity in the future thru co-generation with a solar power plant. It is also planning to put up a similar project in the province of Sulu and is now coordinating with the Sulu Stable/PAGE 11

City Health Office now offers free services for TB patients THE Cagayan de Oro City Health Office (CHO) here is now extending free medical services to patient infected with tuberculosis (TB), a city official said Friday. City Councilor Dante

Pajo, chair of the city council committee on health and sanitation, said that the medicines for tuberculosis are also available for free in various private hospitals here. Pajo made the disclosure

after City Health Officer Dr. Fe Bongcas reported to the city council that two private hospitals in the city are accredited by the Department of Health (DOH) in the treatment of tuberculosis.

Bongcas told the local august body that ever y TB patient is assigned to a treatment partner to ensure that the medicine is taken regularly for six months. She said that the TB

patient partner could be a family member or a Barangay Health Worker assigned in the Barangay Health Center. Paj o s a i d t h at t h e announcement of the CHO is a welcomed development and

urged city and village residents to avail of the services. “There is nothing to be ashamed when one is contracted with TB since the disease could not be treated,” Pajo said. (PNA)

Chess enthusiasts participate in the thanksgiving chess tournament of reelected Misamis Oriental Gobernador BAMBI EMANO at IFI DCENT Hall in Bulua, Cagayan de Oro City last June 15, 2016. PHOTO BY MARK FRANCISCO

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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Monday|June 20, 2016

Cebu Pacific and UNICEF join forces for vital child health and nutrition campaign

ow, f lying with Cebu Pacific will not only take travelers to the best destinations here and abroad, it will also bring much-needed health and nutrition to infants and young children. Cebu Pacific (PSE:CEB), the Philippines’ leading airline, a nd t he United Nations Children’s Fund (UNICEF) have partnered to introduce the Change for Good program in the country. CEB is the Change for Good launch partner in Southeast Asia. “Change for Good is an extraordinary opportunity to help lay the foundation for the Philippines’ future. The team looks forward to working hand in hand with our guests in making a difference in many children’s lives,” said Lance Gokongwei, Cebu Pacific President and

CEO. Change for Good® is an innovative global partnership b e t we e n U N IC E F a nd the international airline industry. Established in 1987, the program is designed to collect donations from passengers and convert these into life-saving materials and services for vulnerable children in more than 150 countries around the world. Change for Good will initially be implemented from CEB’s Manila hub starting July 1, before being rolled out across its other Philippine hubs. “We are very thankful to Cebu Pacific for empowering its thousands of everyday passengers to contribute through their own small way, towards helping provide hea lt h a nd wel l ness to children in the most atrisk communities,” said

Lotta Sylwander, UNICEF Phi lippines countr y representative. During mid-flight, after the Fun Games, CEB cabin crew will invite passengers to

make a donation to help fund UNICEF’s 1,000 Days Health and Nutrition program. The program aims to provide optimal health and nutrition in the first 1,000

days of a Filipino child, from a mother’s pregnancy to the child’s second year of life. Safeguarding the hea lt h and nutrition of children during this critical

window will ensure that they are protected from life-threatening childhood diseases, that they finish more years of school, and campaign/PAGE 11

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Why I Sculpt Ar t is one of t he most important things in life— like love and friendship-that defines human nature. The experiences it proffers may even cancel out the humdrum of everyday experience and transport viewers outside of themselves for a while. This is the power. Universally, defining what “art” really means i s c h a l l e ng i ng b e c au s e of its nuanced meaning. But actually, it is the art institutions—recognized artists, galleries, museums and established art critics-that determine what is “art” and “non-art”. Based on this premise, institutions or individuals who put such works in their premises see to it that they are done by recognized artists with earned credibility from solo exhibits at reputable galleries, prestigious awards and distinctions; m ore ove r, t h e y s h ou l d look at the originality of the work/s because “art” cannot be reproduced but can be produced in a series of similar concepts if done by the same artist. I continually make my oeuvres—both sculpture and paintings—because I love what are considered G o d ’s g r a n d c h i l d r e n . Creating is not just a trait bestowed by the Creator; it is power. I feel empowered when I continually evolve

as an artist—defying canons, challenging the “f at h e rs” an d br i ng i ng on what should inspire wonder. I d i d t h e pro t o t y p e of a s c u lptu re e nt it l e d “Cross” to b e rendered with metal plates. With elements joined like keys in various layers, I relate this to people’s association with the symbol. When faith is wrecked, the man is dead. Faith is v e r y i mp or t ant am on g Filipinos as expressed by t heir involvement w it h church activities—from the masses to fiestas. In my oeuvre “Cross”, I want t o p re s e nt a u n i v e r s a l symbol of Christian faith that gives meaning among all specific persuasions in the Christendom. The freshness of presentation that evokes a certain emot ion is ess ent ia l in my composition, as well as the implication of keys that unlock blessings and bring salvation. In my next metal piece, “Music of My Heart”, I do not expect others to listen to my literal melody. I am not really a musician, but I love visual melodies. I love the music of friendship, finding its true expression and the rhythm of nature invigorating the soul. I cannot miss the splendor of B eethoven and the creativity of Joey Ayala’s

modern and ethnic fusion. My love of sweet melody could be hereditary from my Loboc origin (town of music). In this piece, I desire to come up with a s ens e of wonder in a child’s eye by playing with textures and curves. I a l s o d e s i g n e d my “Sailboat” to be rendered in metal. In fashioning this contemporary knack, I reminisce that I had lived more than half of my life as a trekker in Iloilo City where I started with no acquaintance. My journey taught me to be dauntless and daring in my quest for achievement. So when I see a river, I immediately put a metaphor of sailing towards one’s dreams as I experienced. No torrent is too difficult to overcome as we consciously welcome the One who stills the waves like obedient children. I want repetitive patterns to surprise those seeking the tastemakers. “ Ho u s e o f Ho p e” sculpture—another metallic array of key-like elements harmonized-- is another leap towards the discover y of the heart’s abode. Home is where the heart is, as the saying goes. It is considered the most popular and enduring of all temporal establishments. But in the country where climate change has become more serious and poverty

lucell larawan is r amp ant , hous e s are perennially destroyed and we constantly hear about the crisis of shelter. My work i s a st ate me nt of sympathy. The design is deliberately intended to res onate p o et r y among those who consider themselves as pilgrims in this life. S culpting is not just empowering as I envision my fourth solo show somewhere in the national capital region. Art makes me a no-copycat who can share some qualities with the divine. (The author is a member of the National Commission for Culture a n d t h e A r t s - Nat i o n a l Committee on Visual Arts. He is featured in the book “Contemporary Philippine Arts from the Regions” by Verinoca R amirez, a publication of Vibal Group intended for senior high school students).

Making little conquests daily

Getting Fit T h i n k a m i n u t e … M r. Louis Joline was awarded one of America’s “Fittest Over 50.” At the age of 65, He had completed 61 marathon races. Remember, a marathon is running 26 miles! You would not think this man needs help or encouragement to run. But Louis Joline has admitted that he needs to belong to a running club. He says that he cannot get physically fit and strong by himself alone. He always advises people: “You should exercise with a group, because if your friends are exercising, then you will too!” This is also true when you need to get spiritually fit and strong in your new life with Jesus Christ. There are two things in life that you cannot do alone: Be married and Be a Christian. God created and designed us all so that we need each other to encourage us when we fail, get discouraged or hurt. We need to spend time every week with friends who are successfully living for Jesus. Then, we can be motivated and learn from their good character and example. We also need true teaching, spiritually healthy food, to keep growing and maturing in our Christ-like character.

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THINK

A Minute

Jhan Tiafau Hurst We need to learn through clear, practical teaching from the Bible how to live Jesus’ way successfully in everyday, real life. Are you involved and committed to a church: your spiritual family? Do you have close, Christian friends who love Jesus and live His way every day? Do you have someone you can talk and pray with about your problems? Are you hearing clear, practical teaching every week how to daily live the successful Christian life? You and I can only become spiritually fit and strong through a team effort. When you join Jesus, you join His team and family. So why not ask Jesus to take full charge of your hurst/PAGE 11

Our life will always involve some struggle. In fact, it is and should be a daily affair. Failing in that struggle does not only mean getting stuck at a certain point. It certainly means we have retrogressed. In this business of struggle, if we don’t advance, we retreat. We should therefore be reminded of our duty to hone up our skills in spiritual warfare. Christ already hinted this much when he said: “from the days of John the Baptist until now, the kingdom of heaven suffers violence, and the violent bear it away.” (Mt 11,12) We have to understand though that to be violent in this sense does not mean to be destructive but rather constructive, driven by love and the desire to be united with God and with the others in a way proper to us as children of God and brothers and sisters among ourselves. Our life here on earth cannot but be in some form of struggle. Aside from our innate urge to grow and develop that requires some effort, we also have to contend with enemies whose sole intent is precisely to bring us down, to divert us from our proper path toward holiness. This is not to mention that our ultimate goal is to reach

heaven, which definitely will require effort and struggle, and of course God’s grace. We are not simply ranged against natural difficulties, challenges and trials in life, but rather with very powerful and subtle nemeses. The natural enemies alone are already formidable. St. John describes them this way: “For all that is in the world is the concupiscence of the flesh, and the concupiscence of the eyes, and the pride of life, which is not of the Father, but is of the world.” (1 Jn 2,16) That’s why we can talk easily about envy, jealousy, vanity, lust, greed, sloth, etc. For this type of enemies alone, we need an extensive spiritual pharmacopeia and moral regimen to cleanse us of their affliction. That’s why we are encouraged to intensify our spirit of penance and mortification. We should not take this indication lightly. They are very necessary. But what is actually practical in this regard is to make little conquests everyday in every front of this spiritual warfare. It can be in the battle for faith, hope and charity. It can be in the way we pray and in the offering of sacrifices. Any progress or victory in any battle or skirmish, no matter how small, counts. As long as we struggle

constantly, our spiritual life will always advance. If we persevere in our spiritual warfare, our fidelity to any commitment is assured, for God on his part will always give us what we need. Things would just depend on us. Any progress in the v i r t u e s , l i k e hu m i l i t y, as when we tr y to pass unnoticed while doing a lot of good to others, purifying our intentions when we serve, will always go a long way in our spiritual life. We need to remind ourselves strongly that everything that we do should always be for God’s glory and not for our own glorification. The strategy in our battle in temperance, for example, can be concretized by having a good grip on our emotions and passions. It can be in regulating well our use of time, our attachment to sports, hobbies and other forms of recreation, our curiosities, our thoughts, imagination and tongue that can go wild. Of special interest these days is the use of the gadgets that seem to be intoxicating people, especially the young. There is need to put limits to their use, to be clear and pure about our intentions in using them. We cannot deny the fact that while these gadgets give us a lot of benefits, they also occasion a lot of grave dangers.

HINTS

and

Traces

Fr. Roy Cimagala A l s o i n t h e are a of temperance is the need to practice some self-denial with respect to food and drinks. There is a lot of gluttony around these dayspeople splurging and selfindulging. A not he r are a w he re we can make daily little conquests is in the virtue of order. We have to learn to organize our day well, obser ving the proper priorities-first doing our duties toward God, then tow ard e ve r y b o dy e l s e starting with those close to us, and then toward ourselves. We have to learn how to grapple with the many distractions that we meet e ve r y d ay, and how to maintain or regain our proper focus as soon as possible. It would also help if we make an everyday todo list, so we don’t get lost and confused easily.

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saturday|June 18, 2016

BusinessWeek MINDANAO

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sat-mon|June 18-20, 2016

CorporateWorld

Villar’s Golden Haven ramps up expansion GOLDEN Haven Memorial Park, Inc. is poised to accelerate its expansion this year, following a planned initial public offering (IPO) on the Philippine Stock Exchange (PSE) later this month. T h e m e m or i a l p a r k business of billionaire Manuel B. Villar set aside P557 million for capital spending this year, compared with the P10 million spent last year,

its Chief Finance Officer Roy Joseph S. Fernandez told reporters after an investors’ briefing on Wednesday. Golden Haven earmarked P231.8 million for land development, P195.5 million for the construction of chapel and crematorium in Las Piñas and the remainder for general corporate purposes. The company started offering shares to the public expansion/PAGE 11

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Megaworld to invest P180B for provincial townships M e g aw o r l d Corporation, the country’s largest township developer, is spending P180 billion over the next 10 years to develop 12 provincial townships as opportunities for economic growth look brighter and bigger outside of Metro Manila.

In a press briefing after the firm’s annual stockholders’ meeting, Megaworld Executive Director Kingson Sian said the huge investment will be funded by pre-selling its residential projects, internally generated cash, as well as debt, if necessary. He noted that the firm has a very low net debt to

Posing for posterity during the national executive officers board meeting of the Philippine Councilors League (PCL) held June 13 to 15 in Cagayan de Oro City are the following (from left): interim national treasurer Councilor Sharon Macabebe, national president Councilor Maybelyn dela Cruz, Sen. Cynthia Villar and outgoing national auditor (Councilor), now Mayor-elect Donato Chan of Medina, Misamis Oriental. PHOTO SUPPLIED

equity ratio, providing much leeway for borrowings. He also noted that banks are currently very liquid. Sian said the amount will be spent to develop their provincial townships alone, particularly those that have been already launched this year. There are 12 townships identified by the company. These include the Iloilo Business Park; The Mactan Ne w tow n ; D av a o Park District; Northill Gateway in Talisay City; The Upper East in Bacolod City; The Capital in San Fernando, Pampanga; Twin Lakes in Alfonso, Batangas; Southwoods City in the boundaries of Cavite and Laguna; Suntrust Ecotown in Tanza, Cavite; Sta. Barbara Heights in Iloilo; Boracay Newcoast; and Maple Grove in General Trias, Cavite. “We have remained to be a strong real estate developer in Metro Manila during the past 27 years. Now, we are further spreading our nationbuilding efforts, particularly in developing idle lands into bustling business and lifestyle districts, to the key cities and towns across the country where economic opportunities abound,” said Sian. To date, Megaworld has launched 21 integrated urban townships across the country cover ing around 3,061

hectares in land area. Twelve of them, or more than half, are in the provinces covering around 2,807 hectares while the remaining nine are in Metro Manila covering 254 hectares. Out of the twelve provincial townships, seven are already partially operational while the remaining four, namely: Northill Gateway, The Upper East, The Capital and Maple Grove, are lined up for development within the next three years. “Those partially operational are the townships that have opened some of its components while some of the residential, office, commercial, institutional and leisure components are still under construction. Maturity of townships usually takes 10 to 15 years, depending on the size and components,” explains Sian. The company, led by tycoon Dr. Andrew L. Tan, secured its mark in the real estate industry by acquiring land in mostly prime areas around the Philippines during the past two decades. The result of Megaworld’s sound land banking is its current footprint of over 4,000 hectares throughout strategic areas in the main regions of the country. “So far, we have utilized a little over 3,000 hectares megaworld/PAGE 11

Mitsubishi, Toyota preparing for local production under CARS MITSUBISHI MOTORS Philippines Corporation (MMPC) will start its local production of its Mirage sedan model in early 2017, while Toyota Motors Philippines Corporation will begin manufacturing its Vios under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program by 2018. MMPC on Thursday said

it is investing around P4.3 billion to establish a new local production line for the Mirage model, which is expected to be operational by early 2017. The investment includes P2 billion for a stamping shop facility in Laguna. “ Un d e r t h e C A R S Program our projected production volume is 200,000 units within a period of

six years. In order to meet this target volume, MMPC plans to increase its plant’s capacity by adding another work shift. Along with this, more jobs are likely to be generate d nat ionwide,” MMPC President and CEO Yoshiaki Kato was quoted as saying in a statement. For its part, TMP, a joint venture of the Japanese automaker with conglomerate

GT Capital Holdings, Inc, said it is investing P3.22 billion for the CARS-approved Vios starting this year. The amount would be in addition to the P61 billion cumulative investments made by Toyota’s total value chain, including TMP and its supplier and dealer network. TMP said it will start local production of the CARSapproved Vios by 2018. It has

committed to manufacturing around 230,000 units within the six-year period. “We are optimistic that CARS will improve the costcompetitiveness of the Vios and, likewise, open a lot of opportunities for the growth and development of both the vehicle and parts manufacturing industries in the country,” TMP President Satoru Suzuki said in a

statement. At present, TMP already manufactures Vios vehicles at its plant in Santa Rosa, Laguna. The Board of Investments (BoI) on Wednesday awarded the certificates of registration to TMP and MMPC as two of the participants under the CARS program. Established by Executive CARS/PAGE 11

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Banking&Finance

PDIC urges depositors to always keep records of their bank transactions T HE Philippine D e p o s i t I n s u r a n c e C orporation (PDIC) will be embarking on more advocacies following the signing of the Deposit Insurance Law by President Benigno S. Aquino III. PDIC president Cristina Que Orbeta, during an inter vie w at the sidelights of the 14th annual meeting and international conference of the International Association of Deposit I n s u r e r s ( IA D I ) t h a t culminated today said that is imp or tant that depositors keep a record of their bank

transactions. “ The law allows us to pay on the b a s i s of d e p o s it or s’ record. Before the amendment of the law, t he b asis for p ayment of insurance is records at the bank,” she said. Also, she added that it is important that “deposits are re corde d prop erly on their certificates and t r ans a c t i ons are d one w it h i n b an k pre m i s e s so that in event that anything happens to the bank they can claim their dep osits.” “Ke ep your dep osit records, know your bank, know where they invest money, and make su re t he i nte re st t he y

of fer is not out of this world. When you of fer interests that are out of t his world, ver y hig h; you have to check where are they are investing the funds,” she stressed. The three-day convention of i n t e r n at i o n a l d e p o s i t insurers was aime d at crafting communication strategies to further rais e public awareness on depositor protection. Nonetheless, she cited that they have been doing financial literacy campaign together with the B angko S entral ng Pilipinas (BSP). Also they are working with the Department of Education (DepEd)

NBI Cybercrime Division and keep a copy of the police report. Said report may be needed for the investigation of identity theft,” the BSP said. The central bank also urges the public to cooperate with their banks when the latter ask for additional information to further improve security of t he i r a c c ou nt s and “to a c t ively s afe g u ard personal information to protect themselves from identity theft.” ”Increasing public awareness on frauds such as identity theft is an essential component of t he B SP’s f i n anc i a l consumer protection agenda. A well-informed citizenry is essential to m ai nt ai n i ng f i n an c i a l stability, which is a key policy objective of the BSP,” it added. Identity theft issues have risen and among the reasons is the hacking of the Commission on Elections (COMELEC) website last March, which

placed some 55 million voters in jeopardy. The police has arrested two suspects for the crime, identified as 23year old Paul Zulueta and 23-year-old information technolog y graduate Jonel de Asis. A f t e r t h e i n c i d e nt , b a n k s s a i d t h e y h av e strengthened their information technology (IT) security to ensure the safety of their client’s personal information. T h e B S P, i n t u r n , said it is finalizing regulations targeted to further strengthen bank’s cybercrime maturity. ”We are now working on supplemental or additional regulations t o f u r t h e r s t re n g t h e n and increase the level of maturity of Philippine banks and other financial institutions. We consider it a very serious thing,” BSP Deputy G overnor N e s t o r E s p e n i l l a J r. earlier said. Espenilla said the central bank conducted

a comprehensive cybercrime preparedness assessment among industr y players in 2 0 1 4 “an d t h at i s t h e basis of our subsequent interventions for banks to prepare.” He said the Bangladesh Bank heist last February, wherein US$ 81 million of the stolen funds ended in the Philippines, “is a good l e a r n i n g e x p e r i e n c e” to both the BSP and domestic banks. “(It) made us more aware of the issues and we are happy to say that our banks are resilient to this,” he said. The central bank official also cited the firstever cybercrime security forum it participated in in December 2015 as a key in educating bank officials that cybercrime is not just for the information technology (IT) personnel but also the executives, who approve f i nanc i ng for resources to strengthen banks’ systems. (PNA)

BIR files P466M tax evasion charges vs 13 businessmen THE Bureau of Internal Revenue (BIR) filed separate tax evasion charges against 13 businessmen with total tax debts of more than P466 million, vowing to continue prosecuting tax cheats until she retires at the end of the month. The latest complaints brought to 481 the number of tax evasion cases submitted by Henares to the Department of Justice for review and filing before the courts since she assumed the BIR post in June 2010.

The latest respondents were identified as Ronaldo Correo, owner of Correo Construction Services of Canaman, Camarines Sur; Danilo Relucio and Stella Relucio, president and treasurer, respectively of Constrak International of Project 4, Quezon City; Amador Cruz, chairman of A C Electrical Corporation of West Kamias, QC. Efren Lazaro and Edna L azaro, president and treasurer, respectively of Errizaro Shoe Corporation

of Sto. Nino, Marikina City; Leonito Borja, Jr., proprietor of LB7 Trucking and Trading of Mambugan, Antipolo City; Benjamin Tan and Maribel Tan, president and treasurer of Kevin Enterprises of Cagayan de Oro City; Ricardo Tayag, owner of R.P. Tayag Builders of Salapungan, Angeles City; Archimedes Reynoso, president of of A.R Arch Inter-Design Corporation of Commonwealth, QC, and Michael Cosay, president of Cosco Petroleum Company

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of Pili, Camarines Norte. Outgoing Commissioner Kim S. Jacinto-Henares said she was compelled to file the criminal complaints after the accused repeatedly ignored notices sent to them to settle the tax indebtedness incurred as far back as 2006. The biggest tax debts amounting to P281 million was slapped against Borja who failed to protest the preliminary tax assessment, and later the formal demand letter making the assessment demandable and executory.

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o n h o w t o “e n a b l e t o see how to integrate and formalize financial literacy in the curriculum.” She added t hat t he i r c ou rs e s are sector targeted such as overseas Filipino workers (OFWs), retirees and pensioners, among others. They will soon include priests and nuns and other focused groups that d i d n’t h a v e a c h a n c e to “really listen to what good banking is, how to be financial literate and how to protect deposits.” “We hoped that we will b e a b l e t o e v e nt u a l l y reach out and spread the message,” she said.

BSP advises public vs. identify theft FINANCIAL consumers should always consider to change passwords o f t h e i r b a n k - r e l at e d accounts, especially if they suspect that their personal information has been compromised. This was the advice of the B ang ko S entral ng Pilipinas (BSP) to the public as issues ab out identity theft continue to rise. ”Identity theft or stealing of personal information to commit fraud is a crime that may seriously undermine a person’s finances, credit history and reputation,” the BSP said. Aside from changing their passwords, people who suspect that their p e r s o n a l i n f o r m at i o n were compromised need to immediately contact their creditors, initially those where the deceitful transaction transpired. ” The victim should likewise file a complaint b e fore t h e PN P A nt i Cybercrime Group or the

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Sikat ka Higala

I was at the Mayors Term Report in celebration of The Charter day today. It was graced by newly elected city officials,business sectors,different sectors of the city and the different departments as well as those that supported the administration. I have seen all ies and non allies but through it all I was listening closely to the Mayors Annual Report. I have felt his sincerity as he calls for the Unity among the people, to put aside grievances, personal interest and encourage the desire to serve the people with pure intentions. It is a lesson that people understood that mustering what is good for the people can mean a downfall. As a journalist it is our job to observe, report,

scrutinized the many subjects that describes the administration. We make opinions and we evaluate the governments execution in its utmost behavior. We do not fear to expose the truth if its needed to be reported to the people. This time I will exercise my freedom speech and voice my personal opinion to the Moreno Administration. It is not a secret that the Mayor won by the free will of the people. It is not unknown that his projects of putting up schools in his desire to give a good and affordable education, he believes it is the key to a progressive city. If the city is not being taken cared of in its need in terms of health, employment, education and opportunity the city cannot move forward. Now the city was divided

by majority and minority in fact some of these allies have jump ship and left the Moreno administration with only one council of support. But the Mayor was not shaken by the numbers.Instead he has find means and made sure that his projects will be implemented by hook by crook and up against all odds. I could not help but admire the Mayors sincerity and its vision to capture the heart of the people by giving what people needed infront of him. Now that we our hoping that the adminitrations cry will be heared that to be true public servant it is important to put

personal interest aside and serve the people with no motive of destruction. We all need to play a role in the society. To listen to what people are screaming a well deserve public service.It is also their right to receive it and the manner as they serve the administration with respect and gratitude.As today is Charter Day I will not forget that we have an obligation to Honor our Nation lest we will not forget the words of John F. Kennedy Ask not what the government can do for you but rather ask what you can do for the Government. To Mayor Oscar Moreno, Sikat Ka Higala.

Logo...

which stands for “Change”. “ Ta k e n t o g e t h e r, these three pillars create tremendous energy that will enable our customers to achieve their limitless potential. The triangle’s three sides support each other. Thus, an inherent strength flows harmoniously among the sides to sustain the structure,” Pangilinan said. P L D T- S m a r t h a s embarked on a three-year digital pivot that aims to transform its networks into the countr y’s most data capable infrastructure delivering a growing array of compelling digital services. This year alone, the Group has allocated P43 billion for capital expenditures. Around $100 million more in capex will likely be earmarked, following the acquisition of the telecoms business of San Miguel Corp. which included the utilization of the socalled digital dividend, the 700 MHz frequency band. PLDT and its various subsidiaries such as Voyager Innovation and Talas Data Intelligence are also developing and offering digital and financial

from page 12

innovations and enabling our customers to go digital in their own ways. The biggest winners will be our customers who will have a growing range of choices at their fingertips,” Pangilinan stressed. New identity The new logo replaces the iconic 33-year old PLDT logo, which was formed through a repetition of the abstract figure of the telephone receiver to complete four sides. Smart has also changed its logo. The new logo symbolizes the powerful convergence of PLDT and Smart, combining fixed and wireless technologies to serve individual and enterprise customers. T he ne w PL DT and Smart logo is shaped like a triangle with the three s i d e s re pre s e nt i n g t h e Company’s business pillars - exceptional people, meaningful innovations, and our valuable customers. The triangle is also the symbol for Delta, the fourth letter in the Greek alphabet,

By SHERYL MACALE

technology services that offer the Group’s customers higher levels of efficiencies and convenience. Still changing lives Now going on its 88th year, PLDT has been leading innovations to empower both consumers and enterprises in navigating the digital age. Here are some recent examples: PLDT pioneered data sharing in the country that allows a PLDT HOME DSL customer to share 50GB of data to a Smart mobile subscription; PLDT has also deployed a growing array of web-connected devices for the home such as the online tablet Telpad that serves as the hub of digital services for the home, TVolution Stick which is a dongle that turns TV sets into personal computers, and FamCam which is a CCTV that streams video to mobile devices for added security in the home; PLDT’s mobile unit Smart was also the first to deploy LTE-Advanced (LTE-A), also known as 4.5G in the country. Last April, Smart fired up the country’s first 4.5G service in the resort island of Boracay, using a feature of LTE-A

called carrier aggregation that delivered data speeds of up to 250 Mbps; For enterprises, new innovations are introduced by leveraging on the digital platforms of Social, Mobility, Analytics, Cloud, and Security or SMACS. These are a portfolio of digital ser vices that boost enterprise efficiency, business agility, and customer engagement; An example of these enterprise digital solutions is MarketBuilder which is the country’s first mobile application that enables SMEs to reach out to their customers by dynamic profiling through geo-fencing or locationbased marketing; PLDT’s digital innovations unit, Voyager, and its recent spinoffs PayMaya and FINTQ have also created some breakthrough digital services and platforms. FINTQ, for example, through its Loans Marketplace is now the country’s biggest loans and remittance provider through its partnerships w it h b a n k s a n d ot h e r financial institutions where transactions are all done via the convenience of mobile phones.

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Rebrands... from page 1

of the company’s new logo thereby rebranding it as PLDT Inc. and dumping the unwieldy corporate name it has traded under since 1928. PLDT-Smart has embarked on a three-year digital pivot that aims to transform its networks into the country’s most data capable infrastructure delivering a growing array of compelling digital services, allocating P1 billion per year for the first three years of the plan. This year alone, PLDT Inc. has allocated P43 billion for its capital expenditures. Around $100 million more in capex will likely be earmarked, following the acquisition of the telecoms business of San Miguel Corp. which included the utilization of the so-called digital dividend, the 700 MHz frequency band. PLDT and its various subsidiaries such as Voyager Innovation and Talas Data Intelligence are also developing and offering digital and financial technology services that offer the Group’s customers higher levels of efficiencies and convenience. The new PLDT and Smart logos also comes with the recent change in name of the company into ‘PLDT Inc.’. Pangilinan said: “We are trying to make the company look digital. The changes would be] a lot and it will be across the board, networks, service platforms, people, direction.” Pangilinan revealed the company’s financial standing and plans via a report, consisting of two main parts: First, a quick review of results for 2015; and, second, a view forward, consisting of 1st Quarter 2016 performance, together with a description of the initiatives being untaken to transform the company and secure its future in a world that is rapidly turning digital. “Turning to 2015, the key performance indicators reflect the tough challenges we’ve been facing: Consolidated Revenues Stable at P171 billion; fixed line revenues up 2% to P65.6 billion; wireless business lower by 4% to P110.7 billion; Ebitda margin at 43%, Ebitda at P70.2 billion, down 9%; core net income at P35.2 billion, slightly above expectations; capital expenditures totaled P43.2 billion – an all-time high. Capex to revenues @ 25% -- also a historic high,” said Pangilinan. He said the stories driving these numbers are familiar ones – shifting consumer behaviors and intense competition. Pangilinan said as customers move to alternative digital means of communicating, “our legacy business – international and domestic long distance voice services and text messaging have been declining.” “By comparison,” he said, “data and broadband continue to grow – by 15% year on year, contributing nearly P50 billion or 30% of total service revenues in 2015. With legacy revenues receding, our future clearly lies in date, broadband and the growing universe of digital applications. That is why it is so out of step with the times to keep calling ourselves a “Long Distance Telephone Company.” Pangilinan also said that Smart has just launched a new mobile app called Smartlife, downloadable from Google Play. Smartlife offers Smart subscribers app -- a suite of

apps from a single destinations for living a smarter life, including entertainment, payments to and mobile commerce. Another notable feature of Smartlife is an app called “Smart Perks”- an innovative offering that perfectly symbolizes the future of our digital pivot. “Smart Perks is powered by our enterprise group now offers companies an innovative new platform called market builder developed by our subsidiary, Talas data intelligence, and offered by our enterprise group as well, market builder enables companies to use the Smartlife app as a channel for their deliver coupons to reach customers in a targeted way,” he said. “Finally, as part of this new day, our digital innovations group --Voyager has made strides in creating digital platforms for the Philippines and other emerging markets, focusing on solutions which address financial inclusions for the unconnected, the unbanked and the uncared,” said Pangilinan. On the payments side, Paymaya has taken the lead in the fast growing mobile payments business with a throughput of almost P50-billion in the first quarter. full year transaction volume of the Paymaya platforms will approximate P200-billion - “not bad for a rather new innovation will exceed P120-billion,” he added. “This combined throughput of 200 billion pesos this year will come from three sources (i) Paymaya- The #1 mobile wallet app for Millenials. (ii)Paymaya business- The #1 mobile payments acquiring; (iii) Smart Padala- The #1 domestic remittance service. In particular, Smart Padala, Paymaya’s mobile money transfer service, posted a 52% increase in revenues for this quarter. Smart Padala now handles about onethird of domestic remittances and will soon accelerate and expand its business to foreign remittances.

Vivant...

from page 1 Vivant has already invested over P2.5 billion for the construction of two thermal power generation plants. The company owns 40 percent and 20 percent equity stakes in Minergy Power Corporation (MPC) and Therma Visayas, Inc. (TVI), respectively These investments are expected to add 120 MW of attributable capacity to Vivant’s portfolio by 2017 to 2018. MPC is currently constructing a 3 x 55-MW coal-fired power generation facility in Misamis Oriental. Its completion by yearend 2017 should provide a new and stable source of power for the island of Mindanao. TVI, meanwhile, is building a 300-MW coal-fired power generation facility in Toledo City, Cebu. The project consists of two units, with the first one expected to be completed and connected to the grid by end-2017, to be followed by a second unit three months after. Vivant, through a 50 percentowned associate, also embarked on a P1.6 billion expansion project involving the construction of an additional 30-MW diesel-fired plant in Puerto Princesa, Palawan. This is targeted for completion by end-2016. The company continues to explore opportunities to expand and strengthen its core business, which are power generation and electricity distribution. Vivant said this would be done through

acquisitions, green and brownfield initiatives or joint venture projects. In 2015, the company reported P1.1 billion in net profits, down 22 percent from year ago levels. The soft spot market prices mainly accounted for the reduced income contribution of the power generation group at P723 million vis-à-vis P1.1 billion the year before. This was offset by robust earnings of P631 million for the distribution group, a 14 percent increase versus the previous year.

Employ...

from page 1 sufficient to cover several farmers in the program to earn them a living for the meantime. He said that he would allocate initially about P200 million to P300 million budget for the cash-forwork program. The cash-for-work may involve farmers and fisherfolks in cleaning of irrigation canals and seas, de-silting of dams, and fixing of roads, Piñol said. He said another intervention that he would immediately enforce is the dispersal of seeds to farmers. Piñol quoted Incoming Budget secretary Benjamin Diokno as saying that the government would have P22 billion remaining from the unused 2015 and 2016 budget, but he asked for additional P30 billion for the next months for the total rehabilitation of the agricultural sector. Preparing for La Niña He said that the farmers will have to plant rice by next month so that they would be able to harvest by October in order to avoid La Niña, which is expected to peak in the last quarter of 2016. “We need to prepare for La Niña carefully so that we won’t have a food shortage. What we would like to do is to talk with the growers. I would like to know how much rice seeds they have. We need to start planting by July,” he said Piñol said that the country’s national rice supply from the National Food Authority and private warehouses would last 103 days. He noted that there is a standby permit to import 500,000 metric tons of rice from the ASEAN neighbors to ensure there is sufficient supply when La Niña comes. “We still don’t need that,” he said, referring to the importation. “We need to know the capacity of our farmers to produce,” he added. Piñol said the government has funds that can be disbursed to farmers immediately.

Quarry...

from page 1 Penados fears that residents who rely on farming will be affected once limestone extraction starts. “Only the capitalists will benefit from this and we the constituents would definitely suffer at the end,” the priest said, adding he had witnessed the adverse effects of several mining and quarrying operations in other parts of the country and elsewhere in the world. The priest has been saying this in his homilies after the barangay council of San Isidro issued a resolution on November 24, 2015 in favor of Ibuna Enterprises’ plan to open a limestone quarry. Penados said Gigaquit residents have witnessed the environmental destruction wrought by mining operations in the neighboring towns of Claver and Placer.

Noblefranca said he would maintain to stand firm against any mining and quarrying activity in the town. “As one of the stewards of the environment, we should respect nature because we will definitely not exist without it. Let’s preserve it for the next generation,” he said. Barangy Captian Maria Luz Eupena told MindaNews they have already issued the endorsement to Ibuna Enterprises. Residents have questioned the barangay council’s endorsement, saying there was no consultation conducted on the matter. But Eupena said they have conducted an information drive in all the sitios of San Isidro even as her colleague, barangay councilor Alberto L. Rojo, admitted last February that the council unanimously approved the resolution without the benefit of a barangay assembly. She said they gave endorsement for Ibuna after getting advice from former Climate Change Commission Secretary Mary Ann Lucile Sering, who Eupena claimed favorably endorsed the planned limestone quarrying. But Sering vehemently denied Eupena’s claims. The people of Gigaquit have been opposing the proposed quarrying activity through petitions which were submitted to concerned government agencies. Wilfredo Moralina, a representative of Ibuna Enterprises, told MindaNews earlier that they want to extract the limestone in San Isidro because of the bulk deposit which they could eventually sell to mining companies and other firms who need it. He said limestone has so many uses – in the manufacture of sugar, paper, cement and many others; and for the mining industry, as neutralizer to the acidic oil. Residents raised concerns that higher government bodies, like the municipal council or the provincial board, might also endorse the planned quarry. “We are now afraid that they could get another endorsement for their operations,” said Roy Pepino, a retired United States Navy serviceman from Gigaquit.

Center...

from page 2 are compelled to come to Cagayan De Oro to enroll in senior high this year. Moreno said that the Senior High School Summit In 2015 has also accelerated the preparation for the city’s K-12 program. Moreno also cited Cagayan De Oro as one of the areas that received the Text2Teach Program, which equipped Grade 5 and Grade 6 teachers the needed information and communication technology (ICT) skills and hardware required by the United Nations Educational, Scientific and Cultural Organization (UNESCO). (PNA)

Stable...

from page 2 Electric Cooperative. Kaltimex is the local affiliate of an Indonesian-Indian firm known for its expertise in providing power in off-grid islands in Indonesia. Part of the company’s investment strategy is to provide services in off-grid and isolated island electric power markets or SPUG (small power utilities group) in the Philippines including Basilan. Lawyer Ishak Mastura,

chairman and managing head of the ARMM Regional Board of Investments (RBOI-ARMM), said Sulu archipelago suffers from perennial brownouts and some communities have no access to electric power. “Even if there is electricity in some parts, there is a longrunning energy deficit due to lack of additional power generation capacity and dilapidated equipment. Thus, they suffer from regular brownouts with only a few hours of power in a 24-hour cycle,” he said. Mastura further said that electric power access brings many benefits to the communities and their residents such as access to a range of social, economic, and technological advances. He added that the Kaltimex project will improve the “dire situation” in the island provinces of ARMM in terms of human and economic development. In the first quarter of 2016, RBOI-ARMM registered a P1.3billion project from Gintong Agri Corp, a company engaged in oil palm plantation development. The region already exceeded its target for 2016 of P900 million investments. In 2015, the agency registered a total of P6.5 billion, the biggest in the history of the ARMM.

Campaign...

from page 3 even earn up to 50% more as adults. CEB, which marked its 20th year of operations this year, chose UNICEF’s First 1,000 Days Health and Nutrition program as the beneficiary of its Change for Good partnership. The first 1,000 days of a child are crucial to physical and mental growth and is the foundation of the child’s ability to grow, learn and earn later in life. Donate to UNICEF’s Change for Good 1,000 Days program on your Cebu Pacific flights, starting July 1! For more information on Change for Good, visit www. cebupacificair.com and 1000days. unicef.ph.

Hurst...

from page 4 character and daily lifestyle? Then ask Him to lead you to a church family where you can learn to live Jesus’ right, successful way. Remember, it is only together with our spiritual family and team that any of us can finish our race well—more like Jesus. Just Think a Minute…

Expansion...

from page 8 on Thursday. The offer, comprising more than 74.1 million shares, will close on June 22. Golden Haven is offering 15% of its outstanding common shares to the public for P10.50 apiece to raise P778.2 million. Net proceeds would amount to P711.77 million. Asian Alliance Investment Corp. is the sole issue manager and lead underwriter for its maiden share sale. “We will exhaust our issue size, we were authorized by the SEC (Securities and Exchange Commission) and the PSE to float up to 74.12 million shares. So should we find the need to go back to the market [in case of oversubscription] we will reapply for a second tranche,” Mr. Fernandez noted. Golden Haven President and Chief Executive Officer Jerry M. Navarrete said the company intends to establish a presence

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in every hometown, as it aims to become a nationally recognized brand in the death care products and services industry. “We are confident with the synergies with its affiliates specifically with Vista Land & Landscapes, Inc., by capitalizing in 95 cities and municipalities where Vista Land is present,” said Mr. Navarrete, who also heads Star Malls, Inc. of the Villar family. Golden Haven Chief Operating Officer Maribeth C. Tolentino further noted the company’s affiliation with Vista Land gives the business a boost. “Being an affiliate of Vista Land, which is one of the country’s leading integrated property developers, Golden Haven intends to continue its strategic expansion throughout the country by land acquisition that will focus on key locations where Vista Land has projects to bank on the marketing strategies between the two companies,” Ms. Tolentino said. “Vista Land customers constitute as ready customers for Golden Haven clients. We would capitalize on Vista Land’s agents, access to its management and technical expertise, contractors, suppliers and service providers,” she added. Golden Haven is considered among the country’s leading developers of memorial parks in terms of land developed, which currently reaches 55.2 hectares. The company is present in eight locations nationwide, building six memorial parks and four columbaries in Las Piñas, Cagayan de Oro, Bulacan, Cebu, Zamboanga and Iloilo. It has recently acquired properties in Nueva Viscaya and Pampanga.

Megaworld...

from page 8 of our land bank for our township developments. This means, we still have around 1,000 hectares of land to develop and we are excited to do that in the years to come,” said Sian.

CARS...

from page 8 Order 182 that was signed by President Benigno S. C. Aquino III on May 29 last year, the program provides incentives to three car makers to locally produce three car models with a production volume of at least 200,000 units for up to six years, or an average of 33,333 vehicles per year. Most of the vehicles will be exported. The BoI estimated the CARS program will attract P27 billion in fresh investments and add P300 billion to the domestic economy. Aside from the initial investments, the BoI said the carmakers are expected to create some 14,000 new jobs, with salaries and wages expected to reach P8 billion over the six-year period.

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Corporate events

PLDT, Smart unveil new logo in line with ‘digital pivot’ sat-mon | june 18-20, 2016

Editor: CHENG ORDOÑEZ

PLDT and Smart Chairman and CEO Manuel V. Pangilinan (center) with media practitioners from Visayas and Mindanao key areas after the 2016 Annual Stockholders’ Meeting of PLDT on Tuesday, June 14, 2016, at the Makati Shangri-la Hotel, Makati City.

AKATI CITY – Leading Philippine telecom and digital services provider PLDT and its mobile subsidiary, Smart Communications, welcome a new day with a fresh brand identity that reflects their desire to empower their customers who are increasingly embracing digital services in their daily lives. The new logo also comes with the recent change in name of the company from “Philippine Long Distance Te l e p h o n e C o m p a n y ” into “PLDT Inc.” to better represent the company’s

current thrust to decisively shift its business to datadriven services. “R at h e r t h a n a l l ow ourselves to be disrupted by new technologies, we are disrupting ourselves. We have embarked on a digital pivot to enable us to serve the increasing needs of our people’s digital lifestyle and the country’s growing digital economy,” said PLDT and Smart Chairman and CEO Manuel V. Pangilinan. “We shall lead the digital revolution by embracing the smart life within the organization, pursuing digital logo/PAGE 10