BusinessWeek Mindanao (June 26, 2017)

BusinessWeek MINDANAO CREDIBLE

Volume VIII, No. 8

Market Indicators As of 5:10 pm June 22, 2017 (thursday)

FOREX

PHISIX

US$1 = P50.314

7,814.17

X Briefly

1.3

44.17

cents

points

X

Demand for condo DAVAO City -- A private real estate consultancy firm has noted a strong demand for condominiums in Davao City. Jet Yu, managing director of Prime Philippines said the strong demand for condominium in Davao is reminiscent of the bullish market for condominiums in Manila in 2011 and 2012. He also noted that some condominiums are priced at P150,000 to P160,000 per square meters and some are pegged at P200,000 per square meter. This is equivalent to condominiums sold in the high end Bonifacio Global City or in Makati. About 40% of the condominium buyers are Dabawenyos while 50% of the buying market came from different parts of Mindanao about 10% of the buyers are from Manila.

Cacao financing SINDANGAN, Zamboanga del Norte has won approval from the Philippine Rural Development Project (PRDP) for its P32-million proposal for a cacao development program. “The proposed project is in line with the province’s provincial commodity investment plan which listed cacao as an emerging commodity in the province and sees it a vehicle to combat poverty and attain inclusive growth not only the traders but the farmers as well,” Cerenio T. Tila, PRDP-Mindanao planning head, said in a statement. The proposal was submitted by the Sindangan Facoma Community Multipurpose Cooperative after government agencies in Region 9 (Zamboanga Peninsula) signed a memorandum of agreement in support of the project.

YOUR Mindanao-wide BUSINESS paper

RELIABLE

IN-DEPTH

Gov’t steps up power restoration in Marawi www.businessweekmindanao.com

P15.00

Monday | June 26, 2017

T

By MYRNA M. VELASCO, Contributor

HE Department of Energy (DOE) is stepping up “restoration efforts” on electricity service at the domains of battle-scarred Marawi City as well as along neighboring areas. The department, in a statement to the media, emphasized that it has been closely coordinating with various stakeholders in bringing back power supply especially in critical areas afflicted by the ongoing “arm strife” in Marawi City. As of last week, the DOE noted that the scale of restoration had been at 45 percent level, with extreme physical access constraints

NOON PRAYER. A month after ISIS-inspired Maute militants laid siege to Marawi City, Meranaw menfolk from the city’s evacuation center brave occasional stray bullets to come and join the noon prayer at the Masjid at the Lanao del Sur provincial capitol complex. mindanews

Next wave of OTOPs expected in Northmin By MARK FRANCISCO, Staff Writer

photo by froilan gallardo

Employment awaits MisOr inmates after serving prison GINGOOG City -- The provincial government of Misamis Oriental is ready to provide jobs to qualified inmates after serving a prison term, provincial governor Yevgeny Vincente Emano said. “Inmates who are freed after serving prison terms deserve another chance,” Emano told the inmates here after the blessing of the newly renovated chapel in the jail facility. The chapel, according to Jail Warden JSI Murphy B. Todyog, also serves as the multi-purpose hall for the various activities in the prison facility In his message, Emano invited the freed inmates who need a job to see him in inmates/PAGE 11

noted in those that cannot be given back their power service yet. Among the establishments reported to have reinstated power were the provincial capitol, the Amai Pakpak Medical Center, BrigadeCampo Ranao-AFP camp; Barangay Saber and parts of Barangay Matampay. “With proper coordination with the AFP (Armed Forces restoration/PAGE 11

EYES OF A CHILD. A Maranao boy observes his elders during a noon prayer on Friday at the mosque inside the Lanao del Sur provincial capitol complex in Marawi City as clashes between government forces and the Maute Group continue to rage in the city’s downtown area. mindanews photo by h . marcos c . mordeno

NORTHERN Mindanao will soon have more one-townone-products (OTOPs). This, after the Department of Trade and Industry (DTI) urged local government units (LGUs) here to adopt more than one OTOPs in their respective localities.

“OTOPs don’t necessarily mean that an LGU has only one product to promote. It can be more than one,” said OTOP program manager Leon Flores III told BusinessWeek Mindanao. The OTOP prog ram otop/PAGE 11

Foreign bank offers to fund Mindanao railway project STA N DA RD C har te re d Bank has expressed interest in providing financial and technical assistance to the Philippines in implementing the proposed railway system in Mindanao under the Duterte administration’s ambitious “Build, Build, Build” inf rastr ucture program. In a recent meeting with Finance Secretary Carlos Dominguez III, Standard Chartered officials also offered their bank’s services in facilitating the conversion

of the Development Bank of the Philippines (DBP) into the country’s infrastructure bank. Dominguez and these bank officials also discussed the Philippines’ plan to sell Chinese renminbidenominated Panda bonds t h i s ye ar, t h e D ut e r t e administration’s proposed Comprehensive Tax Reform Program (CTRP) and national ID system, the rehabilitation of the Agus hydropower plants in Mindanao, and the railway/PAGE 11

JOB FAIR. A jobseeker gets interviewed as others wait for their turn during a job fair for technology-driven employment held over the weekend at Limketkai Center in Cagayan de Oro City. photo by mark francisco

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

2

Economy

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

RDC-XI endorses Mindanao Railway Project

DAVAO City -- The Regional Development Council has endorsed to the National Economic Development Authority (NEDA) board the Mindanao Railway Project. The MRP is envisioned to bring greater connectivity to the island of Mindanao via railway which would be

a efficient, affordable and reliable mode of transport that will deliver the benefit of reduced travel time and increased opportunities for economic activities. The first segment of the project is the 102.8-kilometer Tagum-Davao-Digos (TDD) line which is the initial phase

of the 830 kilometer MRP loop. The TDD L ine is a commuter railway which c on n e c t s f rom Ta g u m City in Davao del Norte to Digos City in Davao del Sur. The proposed stations will be located in Tagum City, Carmen, Panabo City,

Mudiang (Davao City), Toril (Davao City), Sta Cruz and Digos City, with its central terminal located in Davao City. The MRP-TDD segment shall have 6 passenger train sets with 5 cars per train

set. The train is designed to have a maximum speed of 160 kilometers per hour. Since frequency of travel is up to six trains per hour or 1 train every 10 minutes, time savings from Tagum City to Digos City will be around

2.2 hours, or from 3.5 hours to only 1.3 hours. Planned implementation of the MRP-TDD is scheduled fourth quarter of 2017. The TDD Line is estimated to cost P35.911 billion. (PIA/ RG Alama)

2 coops in MisOr to get P100k aid T WO c o o p e r at i v e s i n Misamis Orintal will get a cash assistance of P50,000 each as additional capital for their retail and consumer stores, Elizalda S. Palanan, of the provincial cooperative office, said Friday. Palanan said that the cooperatives are the Aromohon Multi-Purpose

C ooperative based in the municipal town of Laguindingan in the west coast of Misamis Oriental and the Consuelo Fisherfolks Multi-Purpose Cooperative in Magsaysay, the last municipal town east of Misamis Oriental in the borders of Agusan Del Norte. “The assistance is part

of provincial Governor Yevgeny Vincente Emano’s continuing assistance project to help the people of Misamis Oriental who belonged to the marginalize sector alleviate their present economic status,” Palanan said. He said the Emano turned over the cash assistance to the coops/PAGE 11

Turnover of Command. PCSupt Agripino Javier (left) turns over the command to the new Philippine National Police Regional Office-10 Director PCSupt Timoteo Pacleb (right) as witnessed by Police Director General Ronald Dela Rosa (center) on June 22 at Camp Alagar, Cagayan de Oro City. (HZD/PIA10)

Out of senior high into real life 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

By NELLIE F. ABAD Teacher I Montol National High School

THIS academic year will be a historic one in Philippine education. 2017 will be marked as the first annum when the country produces its first senior high graduates. At the end of the school year in March, all the graduates are expected to already acquire specific skills that will land them career adult jobs. Of course most of them will continue through college

but this early, research is projecting that around 30 percent of senior high graduates are not interested to proceed to tertiary education anymore. With nine more months to go, that number is expected to tick up as an improving economy draws more graduates directly to work. They go to the BPO industry, to restaurants, to cruise ships, to hotels etc. to start careers on the tougher

side of the vast economic divide that is demarcated by a college degree. Some simply lack the money for college. Some need to help their families or want to save up for a first apartment. Some just want to build things with their hands. On the flip side, high schools must also be prepared for the more practical aspects of adulthood such as a basic understanding of the metric system and a more realistic approach to sex education. So are we ready?

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

BusinessWeek MINDANAO CREDIBLE

RELIABLE

Editor: GILBERT Y. CHAO

mOTORING IN-DEPTH

Monday | June 26, 2017

3

BYD Dynasty Prototype by Wolfgang Egger To deepen its development of electric powertrains and to provide greater green transportation solutions, BYD unveiled the ‘Dynasty’ prototype vehicle created by its new design director Wolfgang Egger in an annual

gala. Egger, who used to be the chief designer of Audi and was also connected with Alfa Romeo, will be working with Heinz Keck, who was with Daimler for 20 years as an expert for tuning suspension and steering systems as well

Ford 1.0 EcoBoost wins International Engine of the Year ( Best Engine Under 1.0) for 6 strait years

F

o r d ’s 1 . 0 - l i t r e EcoBoost engine has been voted 2017 International Engine of the Year “Best Engine Under 1.0-litre” for the sixth year since 2012. Ju d g e s p r a i s e d t h e engine’s combination of performance, fuel-efficiency and technology. The 1.0-litre EcoBoost has now won 10 International Engine of the Year awards including overall winner a record three times, and “Best Newcomer”. “Our 1.0-litre EcoBoost engine has been a gamec h a n g e r, s e t t i n g t h e benchmark for compact, fuel-efficient engines with

sophisticated EcoB oost turbocharging, direct fuel injection and TwinI n d e p e n d e n t Va r i a b l e Camshaft Timing technologies,” said Jo e B a k aj , v i c e pre s i d e nt , Product Development, Ford of Europe. “Even with 10 International Engine of the Year awards under our belt, we’re still finding ways to push back the boundaries of powertrain engineering, and deliver even more benefit to our customers from this acclaimed small engine.” T he Ford’s 1 . 0 - l it re EcoBoost engine is offered with 100 PS, 125 PS and 140 PS. Ford EcoBoost petrol

engines in capacities up to 3.5-litres deliver power and fuel-efficiency to Ford vehicles around the world, f rom t he comp ac t a l lnew Ford Fiesta to Transit vans, pick-up trucks, and Ford Performance models including the Focus RS and the Ford GT supercar. The frugal three-cylinder 1.0-litre EcoBoost engine was named “Best Engine Under 1.0-litre” by a panel of 58 automotive journalists, from 31 countries. First introduced to the Ford Focus in 2012, the innovative engine has continued to dominate its segment, faced with growing competition in a category

popular with car buyers and important to carmakers. This year, the sub-1.0-litre award category featured 35 engines, nine more than in the 1.0-litre EcoBoost’s debut year. “The baby Ford EcoBoost engine is still the best 1.0-litre, three-cylinder design around, despite newer powertrains arriving on the scene,” said Dean Slavnich, co-chairman of the 19th International Engine of the Year awards that were held in Stuttgart, Germany, and editor-inchief of Engine Technology International magazine. “Even more impressive is that it is the first-ever powertrain ford/PAGE 15

as tires for several Smart and Mercedes vehicles. BYD attained a record five billion RMB in profits last year with BYD Philippines (STAR Corp.) besting 100 other dealers globally. In byd/PAGE 15

1st ASEAN Electric and Hybrid Vehicle Summit to be held in PH In the aim of making more environmentfriendly vehicles available to the public and also in line with the Philippines’ chairmanship of ASEAN 2017, the Chamber of Automotive Manufacturers of the Philippines, Inc. (C A MPI,) E le c t r i c

Vehicles Asso ciation of the Philippines (EVAP,) B oard of Investments (BoI,) and MERALCO w i l l b e holding t he 1st ASEAN Electric and Hy brid Vehicle Summit on June 29 and 30, 2017 at the World Trade Center in Pasay City.

4

Opinion

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

Out of the hottest fire

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

Vice President for Administration

joe palabao

Vice President for Marketing

NELSON CONSTANTINO Editor-in-Chief

gilbert y. chao Motoring Editor

Cris diaz mike baños BONG FABE Uriel quilinguing Contributing Editors

CLIFFORD SANTILLAN Layout Artist

ABEGAIL BAYNOSA Sandra encoY Advertising

ATTY. MARIO T. JUNI Cell No: 09352379999

JUN AYENSA

Juni Law Office Cruz Taal St., CDO Legal Counsel

Regional Editor Caraga

manila office: 9th Floor, Unit 918, CityLand Herrera VA Rufino Cor. Valero St., Salcedo Village, Makati City Tel. # : 5555392,Cell No.: 0977-152-8860 lani vallido-Marketing Manager Shiena Shyne Campaner & Wemalyn Garcia Marketing Staff - CDO

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463-826-272-000 – VAT. Reg., and with Business Permit No. 2017-02942. Tel. Nos.: (088)856-3344, 0923-432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com

Member: Philippine Press Institute Oro Chamber

The Real Competition Think a minute…Did you have to compete with someone else to get the girl or guy you wanted? Whether we like it or not, competition is part of life. Usually there are other people besides you who want that job, scholarship, business, or title. But some people will stop at nothing to win. Whether it’s lying, cheating, or gossiping and destroying someone’s reputation. Yet when we compete only to win and beat the other person, it not only makes us bad losers, but also bad winners. That kind of competing produces a person with a bad heart and character, with self-centered greed, pride, and envy. An important lesson in life is to learn to compete only against yourself. Then, whether you win or lose against others, you still win! Because all the time and effort you spent to work and improve only makes you a better person who’s closer to reaching your potential. As one guy put it: “Trespassing is okay, if the boundaries you cross are your own!” So when we set good, important goals for ourselves, they work in two ways: we work on them, and they work on us. The real test of your success is whether you’re a better person than you were yesterday? Are your attitudes and character better? Are you

THINK

A Minute

Jhan Tiafau Hurst a better husband or wife? A better father or mother? A better worker? You know, we can compete and win in our career and making money, but if we lose our good character by being dishonest or hurting and using others, then we’ve lost the real competition and what’s important. The real measure of success is not what you HAVE, but what you ARE as a person. What kind of heart and character do you have? What kind of relationships do you have with other people? If you’ve allowed yourself to compete against others and you’ve done dishonest things or hurt people. Why not ask Jesus to forgive you today and start changing your heart and way of living? Then you can learn to compete only against yourself and win every time! Just Think a Minute …

During the critical days of June 7 and June 8, one of the immediate concerns of the management of Bank of the Philippine Islands (BPI) was to assure the public as well as the regulator – the Bangko Sentral ng Pillipinas - that no hacking was involved. Why was the clarification very important? Because hacking is a malicious attack from the outside which can really wreak havoc on a bank’s system, or for that matter, any institution that is highly computerized. What actually happened was a glitch caused by a lapse in judgement by a programmer, explains BPI President Cezar “Bong” Consing, hence the potential damage could be contained more readily. Here is the closest analogy I can use to demonstrate the difference between a hack and a glitch. When a robber forcibly gains entry into your home, ransacks your kitchen and runs off with your oven

toaster and other applicances, that’s a hack. But when your trusted kasambahay, who has been with you for ten years, mistakenly plugs your 110volt oven toaster into a 220volt outlet, that’s a glitch. In the latter case, you i m me d i ately k now t he extent of the damage and the specific remedial action you need to take. June 7-8 and t he immediately following days were, indeed, trying times for both BPI management and its clients. But as the saying goes, out of the hottest fire comes the finest steel. Fr o m t h e i n c i d e nt , BPI’s mettle, as well as its relationship with its clients, was really tested. I would say that BPI even came out a stronger institution. Here are just some of the reasons why: 1. Not a single bank client lost a centavo as a result of the glitch. 2. The bank knows that its clients, with two noteable exceptions, are honest.

Quite a few volunteered the information that their accounts were erroneously padded and refrained f rom t aking advant age of the situation. This not only minimized undue withdrawals to P46 million but also helped hasten the normalization of operations. One notable exception, however, was a depositor who falsely claimed that his account was credited P12 billion. For reasons unknown, this guy even had himself interviewed by mainstream TV, and that started the myth about the billion peso credits. EVP Mon Jocson, BPI’s top IT guy, told the Senate and House Committees that this claim was a physical impossiblity. Another client, again for reasons unknown, hiding in anonymity provided by social media, advocated that it was time to transfer deposits to Security Bank. Security Bank, bless them, immediately disowned the attempt to discredit BPI. Moreover, the banking community

SPEAKING

O ut

Ignacio Bunye immediately came out in full support of BPI. By the way, Mon Jocson identified the malefactors in no time. These guys will be hearing soon from the NBI! 3. The bank has further confirmed that its clients are a loyal bunch. One would have expected massive withdrawals during the critical period. But the withdrawals during the period June 7-8 did not even come close to peak withdrawals year-to-date. The comparable period of high withdrawals coincided with the banking days bunye/PAGE 15

Father and Educator Par Excellence at Sandingan NHS Good mind, good find. This best describes Mr. Mario Legitimas Garcia (b. 1969), the principal of Sandingan National High School. But as a father, he goes beyond this—one who is a thousand times better than a schoolmaster. Ma r i o w a s b or n i n Candaigan, Loon, Bohol, among seven siblings, where he grew up in a farm and learned to nurture his family’s livestocks, corn, and palay. A son of farmers, he got used to a simple lifestyle. But his father was also skilled at typewriter, watch and other electronics repairs, and later, became a community developer – a barangay captain for several years. Deciding a college degree was a crucial moment for Mario. His choice could have been engineering, but since his father pointed out that there are a lot of schools waiting elsewhere even in their own barangay, he simply obeyed. This decision, however, did not go against his inner voice. Many years

later, he proves that he is really a nurturer of minds— educator par excellence. His liking of farming served as a jumping board for him to see the parallelism in breeding: as plants need attention; so do children. Both need a season and demand the correct strategies and elements for maximum output. Mario went to Bohol Institute of Technology as an academic scholar. Even before graduation, he already was a substitute teacher and worked for the school after graduation. A year later, he pioneered the newly opened Cantaongon High School--a northeastern barangay in Loon; he taught in that LGUrun institution and pioneered its programs being one of the instrumentals in the school’s inception in 1993. The educator’s stint as a school manager started in July 1997 when he was designated as the new school head in Cantaongon High School in the capacity as Teacher-In-Charge (TIC). His leadership styles in

managing teachers, students, parents and stakeholders proved to be effective; thus he ranked at the top and was promoted to Secondary School Head Teacher III in 2002. A year later, he then topped in the rank list for principal position; so he was again promoted as the new Secondary School Principal I in 2003 assigned in Cabilao Island at Cabilao National High School. At Cabilao, Mario was Mr. Light: in that island, there was total darkness even outside the school until he found ways to convince a private entity to provide a 24-hour Solar Powered Energy and successfully developed the Solar Powered Internet Café in Cabilao NHS in 1994-the first solar powered internet in the Philippines at that time. The students, teachers and stakeholders who were deprived the world of computer technology began to enjoy the worldwide-web accessed through the school-developed internet laboratory. These humble

lucell larawan achievements led Cabilao NHS to become the National Brigada Eskwela champion for two consecutive years. This initiative in converging efforts among stakeholders pushed his election in 2012 on the board of directors in the district 3 (Loon and Maribojoc town) in the Bohol Electric Cooperative 1, Inc. (BOHECO 1). The l onge st d re ams among Cabilaonons came true when the spirit of volunteerism by counterparting of funds from different sectors led to the materialization of the 24-hour larawan/PAGE 15

At God’s pace This is something we have to understand very well. If we really are true to our Christian faith, if we believe that we are the image and likeness of God and children of his through Christ in the Holy Spirit, then we have to realize that our life ought to be in vital union with God. We should be living and doing things together with God, at a pace that is in sync with God’s. Patterned after the Son of God who is God’s perfect image, and redeemed from sin by Christ who is the same Son of God who became man, we cannot help but have to

look closely at Christ who precisely declared himself as “the way, the truth, and the life” for us. And if we do that, we will realize that as what Christ himself told us, we need to deny ourselves, carry the cross and follow him. In this way, Christ and us can be in vital union. We can be another Christ, if not Christ himself, “alter Christus, ipse Christus.” Our identification with him can be so perfect that Christ’s words to his disciples can be applied to us: “He who hears you, hears me, and he who despises you, despises

me, and he who despises me, despises him who sent me.” (Lk 10,16) And if we manage to truly identify ourselves with Christ, we can benefit from what he promised his disciples: “Whoever believes in me will do the works that I do, and will do greater ones than these, because I am going to the Father. And whatever you ask in my name, I will do…If you ask anything of me in my name, I will do it.” (Jn 14,12-14) We have to understand that this Christian ideal is not meant only for a few special people who are given

HINTS

and

Traces

Fr. Roy Cimagala some special vocation and mission, and who usually are endowed with special qualities. No! This Christian cimagala/PAGE 15

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

5

6

CorporateWorld

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

Vista Land plans more project launches in 2017

V

I S TA L a n d a n d L i fe s c ap e s , In c . is accelerating its project launches this year as the Villar-led property firm hopes to nearly double its geographical footprint to 200 by 2018. In a press briefing after its 10th listing anniversary in Makati City, Vista Land President and CEO Manuel Paolo A. Villar said the integrated property developer is increasing the total value of

its planned project launches to P42 billion this year from the original target of P30 billion. Vista Land is encouraged by the 12% improvement in its reservation sales to P16.1 billion in the first quarter. The company’s optimism is partly fueled by the “recovery” of sales to overseas Filipinos and “diversification” in favor of the United States market, Mr. Villar said.

Vista Land is looking at a “double-digit” growth in earnings -- albeit below the 17% compounded annual growth rate registered in the last 10 years -- on the back of the “very fast” growth of the commercial business and “high single-digit” expansion of the residential business, he said. Vista Land Chairman and Founder Manuel B. Villar, Jr. said the company is poised for another banner year,

sustaining the solid growth seen in the last decade. “We are bu l l ish for this year and our positive out l o ok i s du e t o t h e continued expansion of our commercial assets in addition to our core housing business on the back of sound Philippine macroeconomic fundamentals,” the former Senate President said. After establishing its presence in about 100 areas at the close of 2016, Vista Land

Cebu Pacific to mount Caticlan night flights CEBU PACIFIC Inc., will start mounting night flights to Caticlan Airport in Boracay starting July 1 following the upgrade of the air traffic control system and newly installed night navigational equipment at the Godofredo P. Ramos Airport. T h e G okong we i - l e d airline said in a statement yesterday it will add two round-trip flights daily

between Manila and Caticlan, utilizing the ATR aircraft under subsidiary Cebgo. With the additional service, the budget carrier said the last flight will be leaving Manila at 6:55 p.m. and returning from Caticlan at 8:45 p.m. Currently, the last flight from Manila to Caticlan leaves at 3:30 p.m. with the return flight at 5:10 p.m.

“[The] expansion of operating times will not only boost frequencies to key domestic routes, but it will also give travelers more options, greater flexibility on when they fly and also help decongest air traffic, especially during the peak flying hours at noon and early afternoon,” Cebu Pacific Vice-President for Corporate Affairs Paterno S. Mantaring,

Jr., was quoted as saying. Cebu Pacific has a total of 39 flights weekly between Manila and Caticlan; 14 between Cebu and Caticlan; and seven between Clark and Caticlan. The additional night frequencies will add 12 more flights to Caticlan to bring Cebu Pacific’s total to 72. Cebu Air, Inc.’s net income plunged 68% to P1.28 billion in the first quarter.

Adspark ties up with Tracx, Wootag for digital platforms ADSPARK, a wholly owned subsidiary of Globe Telecom, Inc., has tied up with global digital companies Tracx and Wootag, allowing the Ayalaowned firm to be the exclusive distributor of the marketing platforms in the country. AdSpark President and CEO Glenn Z. Estrella said the strategic partnership with Wootag and Tracx will allow it to elevate video content and strengthen its social media analytics capabilities to offer “immersive experience and highly intensive analytics” to the Philippine advertising market.

“The growth of digital marketing in the Philippines has become substantial, where video and social analytics are at the forefront. Wootag and Tracx, thus, will allow advertisers in the Philippines to improve their capabilities on this end,” Mr. Estrella said yesterday. Under the partnership, AdSpark will be the exclusive reseller of both Wootag and Tracx in the Philippines. The partnership with Wootag will enable real video performance and help drive advertisers’ sales and marketing goals, while

its collaboration with Tracx will help reveal insights on advertisements. The Wootag platform allows video content were customers can interact with customers and turn views into engagement, sales and leads with real-time measurement. Tracx, meanwhile, is a social intelligence platform that analyzes and refines geographic, demographic, and psychographic data from across the social Web to deliver insights into customers, competitors and influencers. “With a growing customer

base along with millions of viewers interacting with Wootag’s video in the Philippines, the partnership with AdSpark will be a great medium to empower more international and local brands to drive interactive and realtime data experience for their videos,” Wootag CEO Raj Sunder said. AdSpark aims to accelerate digital and mobile advertising in the country, leveraging on its various assets such as core telco technology and subscriber data, among others, to provide digital solutions for clients.

is ramping up its expansion into new areas that will bring its geographical presence to 140 cities and municipalities this year, and eventually 200 by the end of 2018. With the acquisition of Starmalls, Inc. two years ago, Vista Land is now focusing on the development of Communicities -- integrated urban developments combining lifestyle retail, prime office space, university town, healthcare, themed residential developments, and leisure components.

The leasing business now accounts for 28% of earnings before interest, tax depreciation and amortization and 22% of net income. The company is on track to grow its portfolio of recurring assets to 1.3 million square meters in gross floor area by the end of 2018. In the first quarter of 2017, Vista Land reported an 11% growth in net income to P2.3 billion from P2.1 billion, driven by a 14% uptick in revenues.

Great teacher: Does what it takes By Leizl C. Magallanes Teacher I, South City Central School

According to L e e Laccoca “In a truly national society, the best of us would be teachers and the rest would have to settle for something else.” A teacher always makes differences in a learners’ life either in a positive or negative way but a great teacher does what it takes just to contribute positive differences in a learner’s life. A teacher has varied roles. She is a facilitator, a counselor, a mother, a friend, an adviser, a leader and a follower at the same time. It takes passion for a great teacher to do these diverse tasks expected from her. The heart and brain of a teacher really matter so a great teacher does what it takes just to be knowledgeable enough to facilitate learning effectively because we cannot give what we do not have. A great teacher equips herself. It takes willingness for a great teacher to learn more and even grow professionally.

It even takes more time for a great teacher to know her learners well for her to determine their needs. A great teacher is not just someone who is teaching but someone who is passionate enough to know everything about her learners. A great teacher is passionate and someone who is concern on what is happening to her learners and someone who is more willing to follow the footsteps of our Lord Jesus Christ, the greatest teacher of all. There is a saying that “once a teacher is always a teacher” so a great teacher acts as a teacher wherever she goes and whatever she does because a great teacher is a live visual aid in which the learners learn. A great teacher is a role model so it takes guidance from God for a great teacher to live a life that is worthy to emulate by her learners. Indeed it takes wisdom and love for a great teacher to make changes in one’s life.

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

FREE Publication of PRESS RELEASES for corporate accounts to Mindanao Daily News and BusinessWeek Newspapers

7

8

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

9

10

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

When you’re in Davao City, Read:

HOTELS & RESORTS DIRECTORIES

VILLA MARGARITA HOTEL J. P Laurel Avenue, Bajada, Davao City, Philippines Tel. No.: (082) 221-5674 / Fax No. (082) 226-2968 MICROTEL By Wyndham Davao Damosa Gateway Complex Angliongto Rd., Lanang Davao City 8000, Philippines Tel +63 82 233 2333 / Mobile +63 917 795 3548 www.microtelphilippines.com PINNACLE HOTEL Sta. Ana Avenue, Davao City. No. (082) 300-5885 Telefax: 300-1881/ 221-3025 Website: www.thepinnaclehotel.com ALU HOTEL M. Roxas Avenue corner Padre Faura Street, Davao City. Tel No (63 82) 221-5232 / Mobile (O943) 652 3927 Email: aluhoteldavao@yahoo.com info@alu-hotel.com / www.alu-hotel.com GRAND REGAL Km 7 Lanang, Davao City, Philippines Tel. 235-0888 / Fax 235-2335 email: grandregalhotelegmail.com VIAJEROS ECONOMY HOTEL Patnubay St., Sandawa, Matina, D.C Tel. No. 297-5710 / Telefax (6382) 298-5134 Mobile: 0922.-8268425 Website: www.viajeroseconomyinn.com ROYAL MANDAYA HOTEL J.Palma Gil St., Davao City 8000 Phils. Tel. No. (082) 225-8888 / fax No. (082) 225-1885 info@theroyalrmandayahotel.com www.theroyalmandayahotel.com HOMITORI Bangoy Street corner Santa Ana Avenue, Davao City Tel. No. (082) 295-2969 & 295-2471 / Mobile: (0922) 8994646 Email: homitoridvo@gmail.com or Like us on www.facebook.com/pages/Homitori-Davao BIG APPLE HOTEL Brgy. Angliongto, Lanang, D.C. Hotline Nos.: (082) 234-8459 Facebook account: bigapplehotel@ymail.com Email: bigapple_hotel@ymail.com

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

PRIMAVERA CITY 3D APP - A FIRST IN MINDANAO Experience Primavera City in 3D- Available on Google Play Store

“Primavera City 3D App will allow clients to see the inside of the property, walk through the rooms, and take a virtual tour of Primavera City” explained Architect Romolo Nati, Italpinas Development Corporation’s Chairman and Chief Executive Officer. The virtual reality application of Primavera City is a first in Mindanao. “This is the first time that a developer like IDC is introducing something that is unique and has never been done before in the region. The 3D app will be of great help as it will give the market a sneak peek of Primavera City’s authentic Italian style, “ added Architect Nati. The 3D app can be downloaded on Google Play and App Store. At the same time, Primavera City virtual experience is available at Primavera Sales Office at 2/F Primavera Residences, Uptown Cagayan de Oro, G/F

SM City and G/F SM Downtown Premier. About Primavera City Primavera City is an excellent and smart investment opportunity that should not be missed. Investing in Primavera City could mean additional passive income with affiliate property management company Damiani Property Management and Services, Inc. (DPMSi).

The sustainable project is excellently located in the booming district of Uptown Cagayan de Oro. The 12-storey building sits 110 meters above sea level, providing scenic views of Macajalar Bay. Primavera City is designed as a seventower development. The first phase of the project consists of Towers A and B that is on its way to completion in 2018. The

seventh tower is designed to be a high-rise hotel with commercial spaces, an icon of the new and modern face of Uptown CDO. Experience green living! Visit our Sales Office at the 2F Primavera Residences, Pueblo de Oro Business Park, Upper Carmen, Cagayan de Oro. To know more about the project, visit at www. primaveracity.com.

Young Professionals these days work hard for two things -- TRAVEL AND SHOPPING. The SM Store in partnership with Philippine Airlines gives everyone a chance to do both of these things together! For PAL travelers between January 1 to June 30 2017, you have 60 days from arrival date to shop at The SM Store and get 10% discount on regularpriced items! P3000 minimum singlereceipt purchase required to avail the promo. Per DTI-FTEB Permit No. 15501, series of 2016. This year, you can also shop your way to thata dream getaway with Mabuhay Miles! Every P2000 single-receipt purchase at The SM Store gets you a chance to win up to 75,000 Mabuhay Miles. Now until July 24, 2017. Per DTI-FTEB Permit No. 4710, series of 2017

11

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

OFW remittances not covered by tax reform

M

ONEY s ent by overseas Filipino workers (OFWs) to the Philippines are not covered by the proposed Comprehensive Tax Reform Program (CTRP) of the Department of Finance (DOF) as the government has no legal jurisdiction over remittances sent from abroad. Finance Undersecretary Karl Kendrick Chua issued this clarification in separate congressional hearings, in response to erroneous reports that OFW remittances would be taxed under the first package of the CTRP, which is contained in House Bill No. 5636. Chua said in separate hearings of the Senate and House ways and means committees on the CTRP that the Philippine government has jurisdiction only over

domestic remittances, which are not taxed, given that the Value Added Tax (VAT) imposed is not on the money sent but only on the transfer fees charged by remittance companies. “We have to distinguish between the foreign and the domestic remittances. Those coming from abroad are not within our tax regime, so that is not [covered] (under the CTRP),” Chua said at a recent hearing of the Senate ways and means committee on the DOF-proposed tax reform plan. He pointed out that under existing tax laws, transfer fees for domestic remittances have long been subject to VAT but have not been fully collected by the Bureau of Internal Revenue (BIR). “Let me be clear, it’s not a VAT on remittance, it is VAT on the money transfer like

all other services which has been VAT-able from before,” said Chua. To plug this loophole, Chua said legal and tax experts have agreed that because such transfer fees are not explicitly exempted from VAT under the National Internal Revenue Code, then these should be subject to this consumption tax. Chua said the BIR has advised the DOF that there is no need to amend the Tax Code to do this, and that only a revenue regulation needs to be issued to remind companies that transfer fees on domestic remittances are subject to VAT. “The [money] transfers are being done in any kinds of businesses like pawnshops, which used to be only pawning. Now, they are also into money transferring. This is the gray area or loophole

that we are correcting. But we were advised by the BIR …. to just clarify it through a regulation,” said Chua at an earlier hearing conducted by the House ways and means committee. As for money sent by OFWs to the Philippines, Chua said the tax laws applicable to them would depend on the country of origin of the remittance. Finance Secretary Carlos Dominguez III said in one of the public hearings on the CTRP that tax reform is expected to help reduce the poverty rate from 21.6 percent in 2015 to 14 percent by 2022, lifting some six million Filipinos out of poverty, and helping the country achieve upper middle-income status. Achieving this higher income status will require raising the country’s per capita gross reform/PAGE 13

Security Bank services back to normal BANKING operations of the Security Bank returned to normal Thursday following completion of its system maintenance, a day after it was saddled by delays in the posting of banking transactions. “S ecurity Bank is pl e a s e d to i n for m ou r valued customers that our maintenance activity has been completed and all

services that were affected by t h e d e l ay a r e n ow available,” the bank said in a statement. O n We d n e s d ay, t h e bank said it “encountered a delay in posting banking transactions on our systems” but assured clients’ that their deposits remained safe. This prompted the bank to extend the operations of its branches up to 7 p.m. to

service the requirements of its clients. T he probl e m in t he S e c ur ity B an k’s system happened a few days after some customers of Sy-led Banco de Oro Unibank Inc. claimed of losing money due to automated teller machine (ATM) skimming and weeks after Ayala-led Bank of the Philippine Island said i nt e r n a l s y s t e m g l it c h

caused erroneous reporting of their account holders’ transactions between April 28 and May 2, 2017. Skimming is done by inserting a device on the ATM card slot that reads data stored in the card. ATM owners have a hard time distinguishing a skimming device because it looks similar to the card slot. (Joann Santiago/PNA)

ING Bank Asia economist eyes BSP rate hike in Q4 of 2017 AN economist of ING Bank Asia forecasts the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) to keep the central bank’s key rates steady Thursday but still project a 25 basis points increase in the last quarter of 2017. In a research note, ING

Bank Asia chief economist Tim Condon forecasts the Board to cut BSP’s inflation forecasts following the deceleration of rate of price increases last May to 3.1 percent after hitting 3.4 percent in the previous two months. In the first five months of the year, inflation averaged

at 3.1 percent, slightly above the middle of the government’s 2 to 4 percent target for this year until 2020. It is lower than the central bank’s 3.4 percent average inflation target for the year. “We see a likelihood of the BSP cutting its inflation forecast today (ING and

consensus 3.3 percent),” the research note said. “We expect the inflation picture and the prospect of a hit to activity growth from the conflict in the south to lead the BSP to soften its stance. We have revised our forecast of two 25 bp hikes this year to one in 4Q,” it added.

OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274

METRO BANK- COGON Osmeña Hayes St. Cdoc | 726438/8572057

ASIA UNITED BANK Cor.Camp Alagar Road Lapasan, Cdoc 729678 / 8568893

METRO BANK- CARMEN Max Suniel St. Carmen, Cdoc 8581722/ 8585162

BDO – VELEZ Velez-Rn Abejuela Street, Cdoc 2314246/8572075

METRO BANK- LAPASAN CM Recto Lapasan HW, Cdoc 724461/8561721

BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637

METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924

BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796

METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731

BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405

METRO BANK- GAISANO 8561720

BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN

CM Recto Ave. Lapasan, Cdoc, 8563991/727731

BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

PLANTERS DEVELOPMENT BANK

Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723

PNB- LKK MALL NORTH CONCOURSE

LKK Mall N.Concourse Cdoc 8574149/8575682

PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.

#58 Tiano FernandezSt.CDO 727215/ 8563552 *805

SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625

EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081

SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632

EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331

STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168

ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999

Honoring PCSupt Javier. Police Director General Ronald Dela Rosa (left) presents the various achievements of PCSupt Agripino Javier (right) saying that the latter leaves behind colorful record and gallant achievement where other personnel may draw from during the Turnover of Command Ceremony and Retirement Honors for Javier on June 22 at Camp Alagar, Cagayan de Oro City. (HZD/PIA10)

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558

METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415

UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO

Capistrano Corner CruzTaal St. CDO 8524099/722695

UCPB BANK SAVINGS- OPOL Gf forever Books Bldg.Bulua National CDO 754519/8588063 UNION BANK Lapasan Cm.Recto Cdoc | 8566847/8563805 WEALTHBANK Velez Gomez St. Cdoc | 8568942/722174 1ST VALLEY BANK Vamenta Blvd. CornerLirio St. Carmen, Cdoc 8501871/ 8584146 OROBANKERS CLUB Inc. Pnb Carmen | 09151850242

12

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

RESORTS, HOTEL & RESTAURANTS DIRECTORIES

A PUBLIC SERVICE BY:

Algen’s Dive Resort (088) 3872015

Pryce Plaza Hotel 8583131 Fax: 726687

Apple Tree Resort & Hotel 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 0939-9076948

Prawn House (088) 3095992 Fax: 8519219 Ridge View Chalet 8588946 / 8587946 Fax: 8588946

Bahay Bakasyunan sa Camiguin (088) 3871057 / 3870131 Fax: 3870278 Basamanggas Resort 08822-760564 Fax: 760565 Cagayan Riverview Inn 8584245 / 729039 Fax: 8584245 Casa Crystalla 8561704 / 722465 Fax: 722480 Casa Isabella (088) 8564065 Casa Azucena 8563402 / 09236593973 Chali Beach Resort 732840 / 8552108 Fax: 8555941 Chananthon Bed & Breakfast 8568189 / 3093095 Country Village Hotel 8583004-06 Fax: 8583006 D’Budgetel 8564200/726643 Fax: 8564300 Dahilayan Forest Park 8568562 to 63 De Luxe Hotel 8572144 / 724548 Fax: 724563 Discovery Hotel 727814 / 8563896 Fax: 8563897 Duka Bay Resort (088) 3312290 Fax: 725265 Dynasty Court Hotel 8574802 Fax: 857900 Grand City Hotel 8571900 / 728469 Fax: 723718 Hotel Conchita 8563856 / 727355 Fax: 8563857 Hotel Koresco 8589749-50 Fax: 8589748 Hotel Sogo 8520383 Kingston Lodge 8585696 Fax: 8585696

Seda Centrio Hotel 3238888 / 0917-577-5910 Southwinds Hotel 724803 / 8562036 Fax: 8562036 Stargate Dream Vacation Resort 8515003 / 8509999 The VIP Hotel 726080 / 8562505 Fax: 726441 RED PLANET 8800888/8801306 Travelers Pod 8518988 Uptown Condotel 8511800 Villa Paraiso Apartelle 3870419 Fax: 3870429 HONORARY MEMBERS: Dept. of Tourism 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: Bigby’s Café 72-1071/857-5511/8575836 Fax: 711843 Café Laguna 8582999 Fax: 8567001 DM Villaruy Restaurant 733790 Golden Ajirang I 856-5271 Fax: 727876 Grand Caprice Restaurant 72-6955/856-2302 Fax: 72-4986 Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003

Barkadahan Grill 8551234

Maxandrea Hotel 8572244/729943 Fax: 724090

La Tegola Cucina Italiana 8585959

Philtown Hotel 726295 / 8564402 Fax: 723104

which the BSP will likely be mindful of,” it said. Rate of price increases posted a slowdown to 3.1 percent last May after staying at 3.4 percent last March and April. This brought the fivemonth average to 3.1 percent, slightly above the midpoint of the government’s two to four percent target for this year until 2020. BMI, on the other, said that despite the slower inflation rate last May “we expect price pressures in the country to continue to mount over the coming months due to two factors”. As the Duterte “government’s aggressive fiscal expansionary plans” start to materialize this may provide price pressures, “which could encourage t he BSP to t ig hten its monetary policy to maintain macroeconomic stability.” Another factor is the sustained rise of domestic

credit growth, which as of last April rose 17.3 percent, which BMI said is higher than the eight to 10 percent nominal domestic expansion. “Taken together, these factors inform our forecast for inflation to rise to four percent by the end of 2017,” it added. On t he ot her hand, Japanese financial firm Nomura eyes a delay on its 50 basis points BSP rate hike projection in the second half of 2017 after the slowdown of inflation last May. On Thursday, the BSP announced the cut on its 2 0 1 7 ave r age i nf l at i on forecast from 3.4 percent to 3.1 percent on lower path of inflation as earlier projection. “Considering the more benign inflation outlook, we see a risk of delays to our baseline forecast of 50bp in policy rate hikes in H2 2017,” it added. (Joann Santiago/ PNA)

PH general Bangko Sentral exec sees little impact gov’t debts up of peso depreciation on PH inflation 3.9% in 2016 BANGKO Sentral ng Pilipinas briefing, said Fed officials 2002 to achieve the monetary P H I L I P P I N E S’ ge n e r a l government liabilities rose to P5.016 trillion in 2016, up 3.9 percent from P4.829 trillion in 2015. The Bureau of Treasury (BTr) attributed the hike to issuance of more debt securities, depreciation of the peso and drop in the bond sinking fund (BSF). BTr on Thursday traced the increase to the 3.8 percent uptick in the consolidated national government debt, less BSF- from end-2015’s P5.256 trillion to P5.456 trillion in 2016. ”This was brought about by the net issuance of domestic securities (gross borrowings less redemption); the yearon-year peso depreciation; as well as the decline in BSF holdings,” the statement said. general/PAGE 11

(BSP)Deputy Governor Diwa Guinigundo discounts any negative impact on domestic inflation of the sustained weakness of the peso, which closed Thursday to its more than three-month low against the greenback. The peso finished the trade at 50.345, sideways from the 50.290 in the previous session. It is now on its third consecutive day of being in the 50-level against the US dollar after Federal Reserve officials hinted of the possibility of more rate hikes for the year, after the total of 75-basis point increase in December 2016 and in March and June this year, even as inflation remained below the Fed’s two percent target. Guinigundo, in a

had claimed that even as inflation remained below their target, labor conditions had tightened and expected to eventually result in higher inflation. “B ecause of that the market thought that that is a definitive clue or a guidance that they would continue tightening monetary policy or normalizing monetary policy in the US. That means one more time for the end of the year and two to three times in 2018,” he said. Guinigundo, however, pointed out that weakness of the local unit was not expected to provide inflationary pressures since exchange rate pass through had declined. The BSP adopted t he i n f l at i on - t arge t i ng framework starting in January

policy’s objective of price stability that is supportive of domestic growth. Guinigundo said the decline in the exchange rate pass through “gives us additional flexibility in terms of monetary policy.” “We can see higher or more movements, more flexibility in the exchange rate movements but without necessarily getting that translated to higher inflation,” he added. On Thursday, the central b a n k’s p o l i c y - m a k i n g Mon e t ar y B o ard ( M B ) maintained the BSP’s key rates because “inflation environment continues to be manageable.” In the first five months of the year, domestic rate of price increases averaged at inflation/PAGE 11

SLERS Ham & Café 8551438

Mallberry Suites 8541999 / 7249999 Fax: 8544999

Paras Beach Resort 8568563 Fax: 8568563

the central bank’s Interest Rate Corridor (IRC), which was put in place since June 2016 to help the BSP “better manage inflation and promote long-term sustainable growth.” Also, the 20 percent reser ve requirement ratio for universal and commercial banks (U/KBs) was maintained. BMI, a unit of Fitch Group, noted that “although the central bank maintained a neutral stance, it reiterated that the balance of risks is tilted to the upside with regards to inflation.” This statement, it said, “chimes with our view for the BSP to adopt a more hawkish stance over the coming months to manage inflationary pressures.’ “Moreover, over the coming months, we expect diverging monetary policy vis-à-vis the US and fears of fiscal slippage to increase the risk of capital outflows,

Missy Bon Bon 8566852 / 09228606442 Fax: 8566852

Thai Me Up 738424/3108424 Fax: 738424

N Hotel (088) 8801924

PROJECTIONS for Bangko Sentral ng Pilipinas (BSP) rate hikes are now mixed, with some seeing a delay in rate increase in the second half of 2017 given the deceleration of inflation rate. In a study, BMI Research remains optimistic for a 50 basis points increase in BSP rates “before end-2017 to curb inflationary pressures and to stem risks of capital outflows.” This even as the central b a n k’s p o l i c y - m a k i n g Mon e t ar y B o ard ( M B ) maintained its key rates on Thursday due to more manageable inflation outlook, among others. To d a t e , t h e B S P ’s overnight borrowing or reverse repurchase (RRP) rate is still at three percent, the overnight lending or repurchase (RP) rate is 3.5 percent and rate of the special deposit account (SDA) facility is 2.5 percent. These three represent

La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605

Mapawa Natures Park 8584402 Fax: 725265

Miami Inn 8581901 to 02 Fax: 725279/728486

BSP ’17 rate hike projections vary

limketkai luxe hotel 8800000 Dear manok 8564914 / 8573413 LIMKETKAI LUXE HOTEL Landline: (088) 880-0000, Mobile: 0917-312-4563 Email: info@limketkailuxe.com

OTOP NextGen. To inspire the entrepreneurs in the region to level up and meet global standards, and discover emerging suppliers and new product with high market potential, the Department of Trade and Industry (DTI)-10 holds the OTOP (One Town, One Product) Next Generation Screening, Assessment and Triage (SAT) Sessions on June 21-22 at Mallberry Suites Business Hotel, Cagayan de Oro City.(RTP/PIA10)

13

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

STAKEHOLDER ENGAGEMENT. The Department of Energy (DOE) and Access to Sustainable Energy Programme (ASEP) experts engaged industry participants in a two-day public consultation for the Particular Product Requirements (PPR) for LED lamps, air conditioners and refrigerators last 14-15 June 2017 at the F1 Hotel in BGC, Taguig City.

DOE Leads Forum On Energy Efficiency For Consumer Products The Department of Energy (DOE) recently held the second of a series of public consultations aimed at developing a national energy efficiency standard for household appliances such as air conditioners, refrigerators and lighting products like LED lamps. Holding the dialogue in partnership with the European Union, the DOE led other government agencies such as the Department of Trade and Industry (DTI) and private sector representatives in culling inputs from experts, resource persons and the general public. The collective inputs would be used to improve the proposed Particular Product Requirements

(PPRs) that would help consumers choose wisely in buying household items that are energy efficient. Once finalized, the PPRs will form part of the Implementing Guidelines for the DOE’s Philippine Energy Standards and Labeling Program (PESLP). Through the product standards, consumers will be better informed on the energy consumption and efficiency levels of specified consumer goods. Director Amelia de Guzman of the DOE’s Energy Research and Testing Laboratory Services stressed the importance of involving consumers and civil society in the deliberations in order to get the practical

viewpoints of the endusers. She explained that the PESLP not only benefits consumers by reducing their energy bills but will also help in significantly reducing carbon emissions that contribute to mitigating climate change. In his opening remarks, Program Manager for Energy of the EU Delegation in the Philippines Willy Hick said, “The EU has been supporting the Philippine government through the years in reaching its energy efficiency and poverty reduction targets.” The EU has allocated 60M Euros or PHP3.3 B in support of the Philippine government’s 100%-electrification target

by 2022. “European funding can never work without a strong partner,” Hick said during the Philippines’ and EU’s Access to Sustainable Energy Program (ASEP) Meet. Aside from efficiency, the ASEP also advocates clean energy by providing grants to boost rural household electrification using clean energy sources. The first public consultation was held last 24 May. Apart from the consumer products mentioned during the first two conferences, the PESLP will also cover television sets, washing machines and even passenger and commercial vehicles.

Reform...

both Malacanang and the Congress to give it top priority in order to improve the country’s investment climate, create more jobs and attain economic inclusion. The House of Representatives approved Tax Reform Acceleration and Inclusion Act (TRAIN) or HB 5636—by a 246-9 vote with one abstention last May 31 before the Congress’ sine die adjournment. This bill, which had consolidated the DOF’s or i g i n a l prop o s a l — H B 4774—with 54 other taxrelated measures, seeks to make the country’s tax system simpler, fairer and more efficient by slashing personal income tax rates and, to fill up the consequent revenue loss, by adjusting excise taxes on certain products and broadening the VAT base. D om i n g u e z s a i d h e hopes the Senate would act swiftly on the bill when the Congress opens its second regular session in July and retain the original features of TRAIN as outlined in HB 4774. “ We c a n l i v e” w it h HB5636, “but of course it’s better if we get more,” he said. An increasing number of international financial institutions have lauded HB 5636’s approval as a positive step to reforming

the country’s tax system and boosting revenue, and a testament to the Duterte administration’s decisive leadership and firm resolve to pursue broad economic reforms and ensure the financial viability of its ambitious public investment program. These include Moody’s Investor Service, Fitch Ratings, Deutsche Bank, and Nomura. The Philippine Stock Exchange index (PSEi) went up by 90.37 points or 1.15 percent to close at 7,927.49 last June 1, or the day after the House had approved HB 5636 on third and final reading. The bourse then closed at its highest level for this year last June 5 at 8,001.38 points, with PSE president Ramon Monzon quoted in media reports as saying that this breach of the 8,000 level was driven by “optimism over the developments in the DOF’s CTRP.”(PR/JAG)

year, 4.5 percent higher than the previous year’s P503.2 billion. Government security holdings of social security agencies increased by P19.5 billion last year while LGU loans held by the Municipal Development Fund Office ( M DF O ) g re w by P 3 . 4 billion. BTr, however, pointed out that amid these increases, proportion of the GG to gross domestic product (GPD) sustained its improvement to 34.6 percent last year as against the 36.2 percent in 2015 “on the back of careful cash and debt management as well as sturdy economic growth.” (Joann Santiago/ PNA)

from page 11

national income from USD 3,550 in 2015 to at least USD 5,000 by 2022, or close to where Thailand is now. Business tycoon Lance G okong we i, 15 for mer DOF secretaries and undersecretaries plus five former National Economic and Development Authority (NEDA) directors-general have backed the CTRP. Ex-DOF Secretaries Cesar Virata, Jose Isidro Camacho, Jesus Estanislao, Roberto De Ocampo, Jose Pardo, Cesar Purisima, and Juanita Amatong; ex-NEDA chiefs Arsenio Balisacan, Emmanuel Esguerra, Cielito Habito, Felipe Medalla, and Romulo Neri; and former finance undersecretaries Romeo Bernardo, Cornelio Gison, Lily Gruba, Milwida Guevara, Jose Emmanuel Reverente, and Florencia Tarriela, have signed a manifesto supporting the CTRP. Ex-finance secretar y Margarito Teves has also expressed his support for the CTRP during a recent House ways and means committee hearing. Fifteen (15) foreign and local business organizations belonging to the Philippine Business Groups – Joint Foreign Chambers have also backed the tax reform program, and called on

General... from page 12

During the same period, liabilities of local government units (LGUs) went up 13 percent to P86 billion from P76.1 billion in end-2015. “The increase in borrowings was utilized for financing public services and economic enterprises,” the BTr said. Intrasector debt holdings totalled to P526 billion last

Inflation...

from page 12 3.1 percent, slightly above the middle of the government’s two to four percent target for 2017 until 2020. Last May alone, inflation decelerated to 3.1 percent after staying at 3.4 percent last March and April. The MB, on Thursday, cut the BSP’s average inflation projection for the year to 3.1 percent from 3.4 percent last May. The 2018 projection was maintained at three percent. It also announced its 2019 projection, which is also three percent. (Joann Santiago/ PNA)

BusinessWeek MINDANAO CREDIBLE

RELIABLE

Feature

IN-DEPTH

Monday | June 26, 2017

www.businessweekmindanao.com

Klaus Doring:

14

Honorary Consul of the Federal Republic of Germany for Mindanao

I

By Joe Palabao

n a meaningful and solemn ceremony, German Ambassador to the Philippines Dr. Gordon Kricke sworn in to office Klaus Doring as the new Honorary Consul of the Federal Republic of Germany for Mindanao last June 20, 2017 at the Agila Hall, Waterfront Insular Hotel Davao.

As an Honorary Consul for Mindanao he works for Consular needs and concerns of the more than 1500 Germans who are now residing with their families having work and doing business in the Island of Mindanao. Furthermore, Honorary Consul Klaus Doring works for the continuous strong relations of the Federal Republic of Germany in promoting arts and culture, strong business tie ups and other Consular concerns for Mindanao. At A Glance Klaus Doring was here in Davao since 1982

and met his lovely wife, a pure blooded Dabawena Rossana Balcom-Doring. They went to Germany and for seventeen years live and had a good life. And in 1999 went back to Mindanao and settled for good in Davao and did their prosperous business here till now. Klaus Doring while in Mindanao particularly Davao the love of his life where his business with his wife Rossana prospered and made good in the industry. As noted by Ambassador Dr. Gordon Kricke, Klaus is trustworthy, open and reliable in all his

endeavors and having good relations with the people in Mindanao as confirmed by sources. He has a well meaning network of good context and trust from the German community in Mindanao. He helps strengthen the cultural and business tie ups between the Federal Republic of Germany and Mindanao now becoming a business hub of the Philippines. Klaus Doring also works at the University of Southeastern Philippines at the Institute of Languages and Foreign Cultural Arts and teaches German Language. He is also one of the best opinion writers of Mindanao Daily News and Business Week Mindanao. Present was Mirja Mattern Attache of the Federal Republic of Germany, Capt. Ronald C. Go-President, Davao City Chamber of Commerce and Industry, Ebrahim T. Zailon, Officer-incharge DFA Mindanao and Regional Consular

Klaus Doring sworn to office as Honorary Consul of the Federal Republic of Germany for Mindanao by Ambassador Dr. Gordon Kricke with witness wife Rossana Balcom-Doring.

Office , Davao City, Atty. Julito R. Sarmiento-President & CEO/ Co-founder of WeGen, Department of Tourism Retirement Office Representative for Mindanao, Atty. Jose Vicente C.

Ventoza 111, Wit Holganza-Chocolate Food Processing, German National Hayz Kahnen, Dante M. Sudaria, Publisher President and CEO of Business Week Mindanao Corporation

represented by Joe Palabao VP for Marketing, relatives, brothers and sisters of Rossana BalcomDoring and other important guests. Mabuhay Klaus Doring!!

15

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017

Restoration... from page 1

of the Philippines) and PNP (Philippine National Police) forces, technical personnel are en route to restore power in other vital installations in the affected areas,” the department said. Over time, it is anticipated t h at Mar aw i C it y a n d proximate jurisdictions will also get sprucing up when it comes to their energy facilities and services, especially with the task force being deployed by the energy department. This body, which will have the DOE in the lead, will engage the National Power Corporation, Power Sector Assets and Liabilities Management Corporation, National Electrification Ad m i n i s t r at i on ( N E A ) and Lanao del Sur Electric Cooperative (LASURECO) scouring for options on how afflicted areas could move on following the armed conflict plaguing it. LASURECO, for its part, is heavily laden with R10 billion worth of debts – which it has been lobbying with key government agencies to be given some “acceptable reprieve” – and such, it was noted, could be among the fresh round of discussion points in the task force. Bu l k of t he elec tr ic cooperative’s debt had been on power supply secured from state-run NPC and successor-firm PSALM; as well as some unsettled financial obligations with NEA. The D OE previously i n d i c at e d t h at E n e r g y Secretary Alfonso G. Cusi set in motion the creation of the inter-agency body “to come up with options on rehabilitating Marawi City’s energy facilities in the aftermath of damage inflicted by the Maute Group.”

OTOP... from page 1

national team met local entrepreneurs here last week who could qualify as OTOP Premiums under DTI’s new OTOP Next Gen program. The OTOP Premium beneficiaries will receive various logistical inputs from the government in terms of product development, quality, branding, marketing and labelling. The rollout of the first batch is expected on August 19 to 30 at the Kahimunan regional fair in Cagayan de Oro City. A few will then be selected to participate in the Mindanao Trade Expo in Manila by October. Flores said Region-10 has lots of homemade yet world-class quality food and non-food products. “We just need to polish more on the labelling side,” he quipped. In a related development, DTI is expected to launch this year a shopping mallbased Go Lokal! concept store selling quality regional products but in a high-end setting. Go Lokal! has already been activated in commercial malls in Luzon. This year, they will partner with retail

malls in Visayas. By 2018, they will start installing in Mindanao. Flores said Go Lokal! was created by the government to give chance to micro, small and medium enterprises (MSMEs) to display their quality products in a modern setting without incurring additional costs of operating a retail outlet.

Inmates... from page 1

the provincial capitol as he promised to help whatever he can. “D on’t b e a s h am e d, once you are released, you are entitled to a decent job because you deser ved a chance,” Emano said amid the cheers of inmates. The provincial governor turned over 30 units of triple decks, 12 units of double decks, two long tables, one visitor’s deposit locker, book shelves, garbage stands and desk officer table and chair. He said that the furniture costs about 390,000. (Nicole Roa Managbanag/PNA)

Railway...

from page 1 possibility of offering green bonds and project bonds to help finance the country’s infra buildup. “There are five projects approved by the National Economic and Development Authority (NEDA), and the largest is the railway in Mindanao. We want to see how we can help there. We also want to clarify how we can help closely DBP as an infra bank – putting up an infra fund, or providing advisory [services],” Lynette Ortiz, the CEO and Country Head of the Bank’s Global Banking division for the Philippines, said during that meeting. Or tiz als o said that Standard Chartered “has been helping DBP for their funding.” In response, Dominguez cited four major rail projects under the Duterte administration’s unprecedented infrastructure plan. These include the Manila-Clark commuter railway project that is expected t o c om m e n c e b e t we e n October and December this year; the proposed Mega Manila Subway, with its first phase running from the Ninoy Aquino International Airport to Quezon City; the Calamba-Bicol railway; the MRT 7 project from Manila to Bulacan, and the first stage of the Mindanao Railway project connecting the cities of Digos in Davao del Sur and Tagum in Davao del Norte. “The whole idea is we believe we’re so far behind our neighbors on infrastructure, and it just makes sense to spend money on it. But we’re not going do it like how they did it in the past. Doing it through PPP (Public-Private Partnership) takes so much time. Our administration is willing to start the projects, and outsource the operations and maintenance later. It will allow people who are averse to take the construction risks to come in,” Dominguez said.

As for Standard Chartered’s offer to assist the DBP, Dominguez said: “We’d really like to partner with you on this. [DBP president and CEO] Cecille [Borromeo] will welcome working with you, especially with your experience in Asia.” Anna Marrs, the bank’s regional CEO for Southeast Asia, described the Duterte administration’s infra plan as an “ambitious agenda,” but said the government “might as well achieve it.” Nirukt Sapru, the Bank’s CEO for Vietnam and the South East Asia Cluster Markets, also joined the meeting. Dominguez also informed them that the government intends to rehabilitate the Agus hydropower complex in Mindanao to ensure the island’s energy security. “We’ll rehabilitate those, and bid out their operations and maintenance. That will be a few years down the road. But this is the time to do it, because we have excess power in Mindanao at the moment,” Dominguez said. Dominguez said the g o v e r n m e n t ’s m a s s i v e inf rastr uc ture program could lead to a shortage of manpower and skills owing to the large labor demand for the projects. But he told the bank’s officials that the government is counting on overseas Filipino workers scattered across the globe to return home and help in implementing these projects. The Duter te administration’s proposed CTRP will, in turn, help f u nd t he gove r n me nt’s accelerated spending not only on infrastructure, but also on education, health and social protection for the poor, Dominguez said. Dominguez noted that the CTRP’s first package— House Bill 5636 or the Tax Reform for Acceleration and Inclusion Act, (TRAIN)—will also simplify the tax system and make it more progressive. (DOF-PR/PNA)

Coops... from page 2

officials and representatives of the cooperatives last Monday. For his part, Emano urged the beneficiaries to treasure the Provincial Government’s poverty-reduction effort by managing their financial resources well to help not only themselves but also those who are in need. (Nicole Roa Managbanag/PNA)

Bunye... from page 4

immediately prior to Holy Week this year. 4. T h e b a n k’s shareholders are just as steadfast. No significant selldown of bank shares was reported by the Philippine Stock Exchange. Share prices even slightly increased as the situation began to normalize. 5. It was a shining moment for front-line bank staffers who walked the extra mile to service client needs. It was doubly difficult, of course, because processes had to be executed manually.

But deliver, they did. My friend Ichu Villanueva, who writes for the other No. 1 newspaper, recounted several anecdotes of BPI’s front-line heroes and heroines. (Stories from behind the bank teller’s counter, Philippine Star, June 21, 2017) Senator Chiz Escudero, w ho chairs t he S e nate Committee on Banks, Financial Institutions and Currencies, in effect praised the speed with which BPI manually corrected close to 1.5 million entries in less than 36 hours. Senator Frank Drilon, on his part, said: “It’s under control. There is no reason to worry. It’s a glitch, human error, no malice. The important thing is the bank is able to respond.” The Bangko Sentral ng Pilipinas still has to come up formally with the result of its own investigation. But given the proactive colloboration of BPI’s management and BPI’s own track record, I am convinced that BSP would find BPI’s s y ste ms and c or p or ate governance standards better than par. (Disclosure: The writer has known BPI both as a regulator and as a “regulatee”. He previously served with the Monetar y B oard of t he B ang ko S ent ra l ng Pilipinas. He is currently an Independent Director and a member of the Corporate Governance Committee of BPI.)

Larawan... from page 4

electricity in Cabilao Island in February, 2014 through the P24.9 million Submarine Interconnection Electricity Project . Since 2009, Mario has ser ved at the helm of S and i ng an Nat i ona l High School in Sandingan Island, in the same town, as its Principal III. In the schools where he served as leader, the institutions have become repeat awardees of the national Brigada Eskwela leading to the HALL OF FAME AWARDS for successfully winning three (3) consecutive years as the national champions of the DepEd Brigada Eskwela Program. The e duc ator-le ader thought about what fulfillment marriage can bring. When he was 28 years old, he married Vergenia Sarong-Garcia. He seems to agree with Franz Schubert’s quote: “Happy is the man who finds a true friend, and far happier is he who finds that true friend in his wife.” The couple found joy being blessed with the only son—Jose Ma. Emmanuel Garcia. His son, Jomare “Undoy”, is now a grade 8 student at Gov. Jacinto Borja National High School (Cantaongoan High School) in Cantaongon. Unlike other solo children who are expected to be crybabies, he is different. Jomare is trained in feeding chicken, cows, carabaos, goat, household chores and helping the farm. When

he was two years old, he already knew how to use the fork and spoon. The father sees to it that Jomare has a sense of accountability and responsibility and learns to value money. When children are always going to the internet stations to play, the father sees the danger of values contamination; so Mario paid for a wifi service at home where his son is monitored. TV is allowed: only for 30 minutes a day. Such upbringing works. As a fat her, Mar io’s challenges include raising funds from his developed rice and corn fields and from livestocks for his family. His regular hobbies include tilling the farmland and raising livestock every early morning and late afternoon. He usually gives home-made food, organic-natural foods in lieu of cash as “baon” for Jomare to avoid his son from eating chemical-filled products. What makes a good father? The educator-leader makes his stand: traditionally, he is the family’s breadwinner. Rearing children should not be hindered albeit one works from sunrise to sunset. A father not just provides full square meals, but also wholesome time to caress, hug, play, work with, listen, talk, tell short stories, act a monologue and teach the child. As Mario puts it: “Establishing a regular rout ine in le av ing and coming home not only builds a strong and healthy relationship at home; it greatly helps develop assurance of responsibility and accountability. A father should know the process of life like solving the quadratic equation, i.e. giving at all times, a balance among treasure, time, efforts, love and family values formation.

Having multifarious tasks in our workplace and bureaucracies, I should find time to share the most sliding moment to be with my family during all vacant times to fill the empty space during my absence. I believe the traditional saying: Success in every endeavor in this world is nothing without your family you love to share it with.”

Cimagala... from page 4

ideal is meant for all of us. We have to explode that myth that somehow makes Christianity an elitist kind of religion. It’s about time that we present Christianity as it truly is; a universal call to sanctity by striving, with God’s grace, to become “alter Christus, ipse Christus.” Yes, even those whom we consider to be ordinary people, with hardly anything that can make them prominent in society, are called to be “alter Christus, ipse Christus,” whose life, whose thoughts, intentions, words and deeds should be in sync with God’s will and ways. What can we do to pursue this ideal? Well, we just have to make use of all the means Christ himself has made available to us in abundance -the Church, his doctrine, his sacraments, etc. But on our part, what we have to do is first of all to be continually aware of this ideal, and to start acting on it in any way we can think of. We have to continually converse with God. If we feel awkward about this, if we notice that nothing seems to come to our mind, we just have to persevere in praying with full trust in God, like a child’s trust in his parents. In time, we will see how our life marches along at God’s pace! roycimagala@ gmail.com.

16

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

monday|june 26, 2017