Issuu

BusinessWeek MINDANAO CREDIBLE

Volume VIII, No. 9

Market Indicators As of 5:20 pm June 27, 2017 (tuesday)

FOREX

PHISIX

US$1 = P50.290

7,876.37

7 cents

62.20 points

Briefly No cholera outbreak ILIGAN City -- There was no cholera outbreak among internally displaced persons (IDPs) who are staying in evacuation centers or with relatives (home-based) in Iligan City. The fear of an outbreak occurred when two confirmed cases of cholera was reported on May 30 and June 2 that affected a oneyear old and a six-year old children, respectively. The first kid was staying in Sta. Elena evacuation center (EC) while the latter is home-based. The Department of Health in Northern Mindanao (DOH-X) reported that both victims experienced diarrhea, vomiting and abdominal pain. They had undergone rectal swab testing and found positive of vibrio cholera ogawa, the bacteria that causes cholera.

Aids for coops TWO cooperatives in Misamis Oriental 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 Cooperative 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.

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Wednesday | June 28, 2017

ASEAN rolling out next wave of ‘low emissions’ technologies M By MYRNA M. VELASCO Contributor

E M B E R countries of the Southeast Asian region are now giving sharp focus on more massive deployment of high efficiency, low emissions (HELE) technologies, especially for nations that can still not totally get out from the clutches of coal-fired electricity generation on aims of economic advancements.

This had been thrown into the core of discussions during the 14th Energy Security Forum (ESF) hosted by the Philippines that engaged all ASEAN countries plus the region’s three strategic partner-countries of China, Japan, and South Korea. The more developed countrypeers are already moving headway into installations of ‘emissions lowering technologies,” but this is a pace yet to make progress in many ASEAN countries, including the asean/PAGE 11

SALT PRODUCTION. Siblings Agapito and Aida Pontiveros tend to the plastic beds called as “flats” where filtered seawater are left in the sun to dry and form salt crystals in Barangay Sinaloc, El Salvador City, Misamis Oriental. The harvested salt are then sold to traders at P30 to P40 per gallon. A gallon is about 2.5 kilograms. photo by gerry lee gorit

Department of Education still tracking whereabouts of 140 Marawi teachers By MALU CADELINA-MANAR, MindaNews

KIDAPAWAN City -- At least 140 public school teachers who fled Marawi City after fighting erupted there have remained unaccounted for, an education official said.

The Marawi City schools division has 1,413 teachers, and around 90 percent of them have already been accounted for, said Ana Zenaida Unte, assistant schools division

superintendent of Marawi. She said the remaining 10 percent might have gone to areas outside the Lanao provinces. Since May 23 when the fighting started these teachers tracking/PAGE 11

UCPB claims ownership of seized P32-M in Oro By JOANN SANTIAGO, PNA

‘BAKWIT’ BABY: Anisa Bongcarawan, 39, an evacuee from Marawi City, holds her infant daughter Asmira at the evacuation center in Barangay Maria Cristina, Iligan City. Asmira, her eight child, was born on Independence Day, June 12, 2017. mindanews photo by manman dejeto

UNITED Coconut Planters Bank (UCPB) on Tuesday said the manual transfer of millions-worth of cash within its branches is a

normal process, thus, there is nothing unusual on the P32 million funds that were intercepted by the police at the Cagayan de Oro port

Sunday evening. In a statement, the bank said it was “aware of the transfer”, citing that “it is part of the normal procedure to move excess cash from one ucpb/PAGE 11

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Economy DSWD: ‘Fake IDPs’ swarm to evacuation center I

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By FRANKLIN P. GUMAPON, Contributor

LIGAN City -- As food packs and non-food items at evacuation centers continue to pour in, indiv iduals p osing as internally displaced p ers ons (IDPs) have started to flock to these temporar y shelters for families displaced by the Marawi crisis. M s . Evely n Ma d r i o, Department of S ocial Welfare and Development Office (DSWD)-10’s Social Welfare and Development Team (SWADT) leader, re p or te d i n a me e t i ng this week that they had discovered these “fake IDPs” during validation. T he s e u ns c r upu l ous individuals would come

to the evacuation center each time a distribution of relief goods is held. Presently, more than 70 thousand families with over 350 thousand dependents were displaced after the firefight between the ISISinspired Maute terror group and government troops broke out last May 23. Some of these IDPs are now housed at the evacuation centers, but many of them prefer to stay with their relatives in Lanao del Sur, Lanao del Norte as well as in the provinces of Misamis Oriental, Misamis Occidental and Bukidnon. While the militar y operations are going on ag ai nst t he Isl ami c militants, the personnel

of the Department of Health ( D OH ) , D S W D, O f f i c e of Civil Defense (OCD), local disaster risk reduction and management councils, Philippine National Police

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Infantry (Tabak) Division has also assured the public that the “success in military op e r at i ons ag ai nst t he terrorists is irreversible.” Of the 96 barangays

in Marawi City, only four have remained under the control of Maute group, namely, Marinaut, Bangolo, Raya Madaya and Lilod. (FPGumapon)

Food Tripping in the time of Martial Law DAVAO City -- When martial law was declared all over Mindanao last May 23, many were apprehensive about the impact it had not just over civil liberties but also in the conduct of businesses particularly those engaged in leisure and tourism. For many Dabawenyos, they welcomed the fact that increased security measures brought about by martial law will lead to a much safer city. Instead of fear and

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(PNP) and other responders continue to work roundthe-clock to attend to the needs of the IDPs. Lt. Col. Jo-ar Herrera, spokesman of the 1st

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

apprehension many locals became resilient, showing to the world that everything is still business as usual. Among these Dabawenyos is events organizer Kat Dalisay who co-organizes the Weekend Market at SM Lanang Premiere. The market is a food bazaar featuring budding food entrepreneurs and their mouth-watering specialties. Together with friends from the traditional and online media, this writer were invited by Kat to try out the newest themed variation of the Weekend Market held from June 22- 25 at SM Lanang Premiere open space parking area Dubbed as Taste of the Nation, the concept revolves around anything Filipino as the event is held on June, the month where the country celebrates its independence. “The booths are designed as Filipino inspired and at least one of the menu is Filipino.” Says Kat. Each of the participating VIP media including this writer got the chance to try out various gastronomic d e l i g h t s . Wi t h a b o u t 65 booths, each media participant had an allocated number of exhibitors where they could try out their respective specialties. I got the chance to try

the yema cakes of Sweet and Savor y, the pulled pork sandwiches of Pulled Brothers, hanging chicken of Espetada House of Hanging Chicken, fried ribs of Frybae, dumplings of Dragon Dumplings, rice toppings of Sisig Factory, the boneless lechon of Lulens (which coshared the booth with Twister Shawarma) and the cotton candy of K-Cotton Fries. My first stop was the famed Yema cake of Sweet and Savory, according to Jennie Mae Mahusay who manned the stall, it was her sister who concocted the idea of having a chiffon cake covered with yema icing. The sweetness of the yema balanced out by the salty cheese sprinkles. From operating in their parents carinderia they finally got a space along San Rafael Drive, now their famed Yema cakes are being flown even to the United States where vacationing balikbayans take it as pasalubong back to US. From the classic yema cake, they added ube and chocolate variations. Jennie says since joining The Weekend Market sales of their yema cakes have spiked up, from less than 100 tubs of cakes, orders now range from 300 to 400 cakes per day. Jennie credits the heavy promotional activities of the weekend market, which

entices people to come to the bazaar. “Pulled Pork because we pulled the meat out, we shred it and we have different kinds of sauces.” Anselmo Ferrazini of Pulled Bros. briefly describes the product which has drawn raves from many people. Customers can choose from the classic original sauce, barbeque sauce and cheesy garlic sauce for their pulled pork sandwich. Anselmo says they started just this year in the weekend market they now get a loyal following for their pulled pork products.” People come back for it because it only happens once a month and people like it also, they come back for our pulled pork.” The Taste of the Nation is Lulens Boneless Lechon first exposure to the Weekend Market. Culinary entrepreneur Chiqui Aportadera says the boneless lechon is being offered at Peppers Iberica Resto located in Mabini Street, and is one of their best-selling product. Espetada is a skewered chicken which is a Portuguese dish consisting of skewered meats. Kristina Elizaga who mans the Espetada booth says the f irst Espetada House of Hanging Chicken food/PAGE 11

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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CorporateWorld

PAL buying seven Q400 aircraft

E BOURGET -Philippine Airlines ( PA L ) i s b u y i n g seven more Bombardier Q400 aircraft, Bombardier Commercial Aircraft announce d during the International Paris Air Show. PAL is scheduled to take delivery of the Q400 aircraft, the world’s first dual-class, 86-seat Q400 aircraft, in July. In a s t ate m e nt , t h e Montreal, Canada-based plane manufacturer said it

signed a deal with PAL for the exercise of its seven Q400 aircraft purchase rights. This brings PAL’s total firm order to 12 Q400 aircraft, valued at approximately $235 million. In December, PAL made a firm order for five Q400, plus purchase rights for an additional seven. The Lucio Tan-led flag carrier is scheduled to take delivery of the Q400, the world’s first dual-class, 86seat Q400 aircraft, in July. “As we position ourselves for growth, we are pleased

to be adding more Q400 to our fleet. We are thrilled about the opportunities that lie ahead, and we look forward to offering more capacity and improving connectivity in the region with comfortable, fast and efficient regional aircraft like Bombardier’s 86-seat turboprops,” PAL President and Chief Operating Officer Jaime J. Bautista was quoted as saying in a statement. For his part, Bombardier President Fred Cromer expressed confidence PAL

will benefit from the Q400’s “outstanding economics and performance.” “The Q400 aircraft have help e d airlines around the world expand their networks, and capture new opportunities,” Mr. Cromer said in the statement. AIRBUS DEAL Earlier this month, Mr. Bautista said the flag carrier is pushing back the start of

delivery of its Airbus A321 NEO (new engine option) planes to January over issues with the engines to be used for the aircraft. PAL has an existing order of 21 A321 NEOs, which was supposed to begin delivery by November. “O u r f i r s t a i r c r a f t delivery of the NEO will be [on] January 2018 from November this year, so it’s

three months delayed,” Mr. Bautista had said. The new jets -- part of the A320 single-aisle jetliner family -- are usually flown short-haul but are more fuel-efficient. PAL’s announcement comes a week after Cebu Pacific said it is deferring the start of delivery of 32 A321 NEOs to end 2018 buying/PAGE 11

Vista Land expanding to tourism, industrial ventures in next 5 yrs VILLAR family’s Vista Land and Lifescapes, Inc. will be venturing into tourism and industrial developments over the next five years. Vista Land President Manuel Paolo Villar said in an

interview that the company would take advantage of the robust tourism industry of the country, with the increasing tourist arrivals -- mostly from China -- and growth in infrastructure projects.

“We’re very bullish on tourism. As you know the Chinese has been more open to come to the Philippines. I think there have been more and will be more expanding/PAGE 11

AboitizPower subsidiary bags The Asset’s top RE award The PHP4.1-billion project notes facility for Ab oit izPower’s He dcor Sibulan hydro power plant bagged the Renewable Energy Deal of the Year-Hydro award in the Hong Kong-based finance publication, The Asset.

“This award is a testament that we remain true to our mission to provide Filipinos a better future by delivering reliable and reasonably priced power,” said Emmanuel V. Rubio, AboitizPower COO for Generation Group. The SEC registration-

exempt Peso Denominated Fixed Rates issuance, which was also evaluated by the Philippine Rating Services Corporation (PhilRatings) and received a credit rating of PRS Aa+, indicating AboitizPower and subsidiary award/PAGE 11

Michael Ragay of XUHS ‘95 takes a shot as the team battles XUHS ‘92 during the Xavier University High School (XUHS) Alumni Basketball Association season opener last Saturday. photo by mark francisco

Opinion

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I AM THE WAY

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The Wealthy Poor Think a minute…Imagine this rich, successful young man. He’s well educated and owns a big, beautiful house. He lives and travels first class! Yet even with all his success he still goes to church and is a humble, good person. Of course, he’s not perfect. But he’s definitely no murderer. Adultery? Nothing any redblooded boy wouldn’t do once in a while. Stealing? Only a little cheating like everyone else does to survive. Honors his father and mother? Definitely. He sends money home all the time. Sounds like a good person doesn’t he? But do you know what Jesus Christ said to a young man like the one we just talked about? Jesus saw right through this nice, church-going young man. Jesus knew that this man really loved his good life and religious reputation more than he loved Jesus. Yet this man thought he was a Christian and right with God just because he went to church, and was kind to other people. But Jesus said he’s not even close! Harsh words, aren’t they? Jesus taught that there is absolutely nothing that any person can do, whether it’s going to church or giving money to the poor, that is

THINK

A Minute

Jhan Tiafau Hurst good enough to reach God’s standard of perfect goodness from the heart. You see, if God can forgive and accept me into heaven just because I’m a good person, then Jesus was either a crazy lunatic, or a liar! Because Jesus Himself said that He, God the Son, He had to die and give His own perfect life to pay the penalty for all our wrongs, so He could forgive us and make us His children. So friend, just going to church cannot save you and me. Giving money to the poor cannot earn us God’s gift of forgiveness and new life. There is nothing or no one in this world who can make us good enough and acceptable to our perfect Creator…only God the Son Himself. Jesus alone can forgive and save hurst/PAGE 11

Many times we compare our life with a path. We talk about “the way”. We describe a determined man as, “He’s on the right track”. We go about our tracks, but we are reproved if we take a short-cut and not the path across a rice-field. We learn that there are many ways of solving problems. We also don’t want to stand in other people’s way. Sometimes we prefer to keep put of someone’s way and plan to avoid getting in their way. Often we try to find the golden middle course... . Many different ways have been offered to us during our whole life. How can we be able to choose the right and correct one? Which signs at our way can be trusted blindly? These are urgent and vital questions for all

of us, and, especially during this time, very important like never before. In the past, traditions and customs are the paths, we took. Nowadays, we make decisions and long for the correct path - mostly on our own. T h e G e r m a n at o m physician Werner Heisenberg (1901-1976) described it very impressively. The man of today is like a ship’s captain. This ship is made out of iron. The compass needle is no longer able to show the Northern direction, as expected, because of the ship’s iron inflexible body. You have one choice only: look up to the stars and study their guiding support!” We’re all happy and proud, when we have every need at our disposal. On the other hand, it only

confuses our aims, goals, and objectives in life. “I am the way” is NOT ONLY a traffic sign - or a shepherd without responsibility - or a religious founder, who thinks, that “only he is the right way, if one follows him”... . HIS way is the only right way. Only His deeds colored our fates. Let’s keep our eyes open for the important signs at our way, such as : - Unselfish participation in the life of others; - Courage to uncover prejudice; - Re ady to help the unprotected and defenseless; - Struggle for freedom and justice; - Commitment for peace. Most of all: Love, which does not calculate and count. Love without measurements, boundaries and limits.

H ave M y Say

Klaus Doring

If you can share with others, you’ll know one day in future, that someone walked this way - earlier then you - and, and, FOR YOU! +++ Email: dor ingklau s@ gmail.com or follow me in Facebook, LinkedIn or Twitter or visit www.germanexpatinthephilippines.blogspot.com or www.klausdoringsclassicalmusic.blogspot.com.

P6 B tourism ad contract: that’s all there is to it? LIFE’S INSPIRATIONS: “… `What good will it be for someone to gain the whole world, yet forfeit their soul? Or what can anyone give in exchange for their soul?’…” (Jesus Christ, our God and Savior, in Matthew 16:26, the Holy Bible). -ooo WITH CANCELLATION OF P.6 B TOURISM AD CONTRACT, IS THAT ALL THERE IS TO IT? The press release is that, the Department of Tourism already cancelled its P650 million contract with ad agency McCann Erickson after the whole world is once again deriding the Philippines on its latest tourism campaign, which was confirmed to be a plagiarized version of a similar but earlier tourism campaign from a South African country. But, should that be all there is to it? I mean, should the Filipino nation be already satisfied and be thankful with just the purported cancellation of the P650 million contract between the Department of Tourism

and Mc C an n E r i ck s on that led to the 60-second video presentation entitled “Experience Philippines”? Should all of us simply shrug our shoulders now, e ve n i f we h ave b e e n collectively shamed, defamed, and demeaned, and are now being relentlessly subjected to international ridicule because we have shown we can shamelessly copy the intellectual work of other people, and even pay P650 million for such a mere plagiarized work? -ooo P L U N D E R , CORRUPTION LAWS MAY HAVE BEEN VIOLATED AD ROW: As Filipinos are won’t to say when things are not right or do not measure up to expectations, “ganun na lang ba yun”, or is that all there is to it? Well, if the Duterte government is going to say that, it would become a party to what could possibly be a plunder case at worst, or a multi-million peso graft case at best, on account of that botched tourism campaign.

Even a mere haphazard evaluation of what happened here will show that there could be here “taking undue advantage of official position, authority, relationship, connection or influence, to unjustly enrich himself or themselves, at the expense and to the damage and prejudice of the Filipino people and the Republic of the Philippines”, as the existing plunder law says. Then, the graft law could also be used to punish anyone involved in the cancelled tourism contract who are “causing undue injury to any party, including the government, or giving any private party any unwarranted b e ne f it s , a dv ant age or preference in the discharge of his official administrative or judicial functions, through manifest partiality, evident bad faith, or gross inexcusable negligence.” -ooo MCCANN ERICKSON, ET. AL., MUST BE HELD LIABLE FOR BOTCHED TOURISM AD: The point

K akampi

Mo A ng Batas

Atty. Batas Mauricio is that, something has to be done to make sure this kind of a raw deal is no longer repeated in the future. As latest media accounts indicate, the “Experience Philippines” tourism campaign is already the third plagiarized tourism campaign of the Philippines. Evidently, this loophole, which possibly benefits handsomely some crooks, must have to be plugged. One way of doing this is the chopping of the heads, as it were, of officials of the Department of Tourism who had a hand in entering into Batas/PAGE 11

Again the homily Twenty-six years have passed since my ordination in the palindrome year of 1991. Events like this always elicit from me deep sentiments of thanksgiving to God and all for everything that I have experienced and l e ar ne d t hrou g h t hos e years, including the failures and setbacks which can be rich sources of goodness if handled well. The y a ls o of fer t he occasion to make some kind of review if only to discern the more subtle ways God is trying to point out to us. This time, I thought I need to share my experience in preparing and giving homilies with the view of helping my brother-priests in this most delicate task of conveying the word of God to the people. Everyone, I suppose, has his own way of doing things.

I just want to voice out my experience for whatever it is worth. I don’t consider myself a kind of standard or model in this regard. I just hope my sharing can help priests in giving more attention in preparing and giving a homily. One thing is quite obvious. We need to go through all the prayers and readings of the Mass of the day to get the basic theme of the homily. Yes, meditating on them is truly helpful and the effort to relate them to the current issues and developments around is necessary. What is Christ trying to tell the people today and what do people need to know and to realize with respect to the day’s Mass readings and prayers? These are some guiding questions that should lead priests to make the

necessary study, research, consultation, etc., and to start making the outline of his homily. This should be done with ample time in advance so that the points that would be brought up would be properly internalized and articulated. It’s clear that due preparation is not simply a matter of taking care of the technical aspects of the homily, but rather of seeing to it that one arrives at the conviction that what he would say is what God wants him to say. Thus, the role of the priest’s spiritual life is indispensable. The effectiveness of the homily is ne ver just a function of the technical qualities of the homily. It is about effectively transmitting the very spirit of God. We can therefore safely say that preparing and

HINTS

and

Traces

Fr. Roy Cimagala giving a homily depends on one’s vital relationship with God. The task is an abiding concern where one hardly knows where he begins and ends. Everything in his life, especially in his intimate relationship with God, becomes a material for his homily. The technical requirements only play a cimagala/PAGE 11

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110 bank branches open in PH in Q1 ‘17 ONE hundred ten bank offices of various types have been added to the existing bank offices in the Philippines in the first quarter of 2017. This figure was indicated in Circular Letter 2017-038 issued by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla Jr. on June 22, 2017. Of the total, 47 of them are branches are for universal and commercial banks (U/ KBS), 37 are thrift bank (TBs) branches and 26 are branches of rural and cooperative banks. Central bank data show that as of end-December

Banking&Finance

2016, there are a total of 28,392 branches of financial institutions in the country. Of the total, there are 6,252 head offices and 22,140 branches and agencies. Total bank head offices and branches as of last year reached 11,178 while there are 17,214 non-bank financial institution offices in the country. Total head offices and branches of U/KBs as of last year reached 6,237 while TBs reached 2,176 and RBs, 2,765. Espenilla, who heads the central bank’s Supervision and Examination Sector branches/PAGE 11

PHL gov’t budget gap up 15% in May 2017

HILIPPINE budget gap reached P63.6 billion in May this year, 15 percent lower than the PHP 75.1 billion deficit in the same month last year. Data released by the Bureau of Treasury (BTr) Friday showed that the government spent more than its revenues in May 2017. Data show that government revenues last May reached P228.3 billion, 14 percent higher than yearago’s P199.8 billion.

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But expenditures rose 20 percent year-on-year to P261.7 billion from P217.4 billion in May 2016, data show. The Bureau of Internal Revenue (BIR), which collects around 70 percent of taxes, contributed P158.7 billion, up five percent from its P151.6 billion collections. The Bureau of Customs (B O C) shared in P39.6 billion, 23 percent higher than its P32.1 billion revenues in May 2016.

Non-tax revenues came from the BTr, which collected P18 billion, up 214 percent from its P 5.7 billion year-ago collections, and the Other Offices, which collected P9.3 billion, four percent higher than the P9 billion revenues in May last year. In the first five months of the year, revenues rose eig ht p ercent ye ar-onyear to P996.5 billion and expenditures by six percent to P1.06 trillion. BIR revenues for the

period totaled P716.8 billion, up nine percent from yearago’s P659.4 billion. BOC’s collection increased by 13 percent from yearago’s P155.3 billion to P174.9 billion. BTr contributed P48 billion, down 18 percent from year-ago’s P 58.6 billion, and the Other Offices’ share reached P47.7 billion, seven percent more than the P44.6 billion revenues same period last year. (Joann Santiago/ PNA)

A NEW circular will soon be issued by the Bangko Sentral ng Pilipinas (BSP) to improve the preparation and submission of supervision reports by banks. BSP Deputy Governor Nestor Espenilla Jr. told reporters that the issuance, which has been approved by the central bank’s policymaking Monetary Board (MB) “is a very important circular” since some banks err in reports submission since penalties are small.

“It makes it very clear whose responsibility it is all the way to the Board to make sure that the data being submitted to the BSP is accurate and based on the requirements of the BSP,” he said. The incoming BSP Governor said the new c i rc u l ar wou l d cl e ar ly state the obligations of central bank-super vised institutions such as ontime submission of reports, and also identify additional

sanctions for failure to meet the requirements. He said the new circular “strengthens the framework for high-quality data submission to the BSP.” >”Data is very important for the BSP because it’s the foundation of policy-making,” he stressed. Espenilla said there were lots of banks that failed to meet the deadline of filing of reports due to several reasons such as not realizing banks/PAGE 11

Bangko Sentral tightens banks’ reportorial requirements

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A golf tourney for wounded soldiers A

Story and Photo by MARK FRANCISCO

total of P120,000 in cash and kind were generated and donated by the Camp Evangelista Golf Club to soldiers recuperating at Camp Evangelista Station Hospital who were wounded in Marawi City. The cash was generated in the registration of 65 participants in the Eidl Fitr Golf for a Cause held the whole day last Monday at Camp Evangelista golf course in barangay Patag, this city. The “in kind” donation consists of electric fans, kitchenware, ten sacks of rice and canned goods. They

were supposed to be raffled off to the participants but the players decided to donate the items to the wounded soldiers instead. Camp Evangelista Station Hospital chief Col. Jonna Dalaguit is grateful to the C amp Evangelista Golf Club for their donations and added it would mean a lot for the full recuperation of the wounded soldiers. There are a total of 77 soldiers confined as of presstime at the military hospital situated in barangay Patag, Cagayan de Oro City with round-the-clock care provided by the medical

Smart, TNT & Sun share 15 days of free calls and texts for displaced Marawi residents As part of its ongoing efforts to help and support t h o s e a f f e c t e d by t h e Marawi conflict, mobile ser vices provider Smart Communications has opened up its network to provide free calls and texts catering to Marawi residents affected and displaced by the ongoing crisis. Starting on June 23, Friday, Marawi residents who are Smart, TNT, and

Sun prepaid subscribers will benefit from free calls and texts within the three networks, valid for 15 days, allowing them to get in touch with their loved ones. The service also coincides with the observance of Eid’l Fitr, or the end of Ramadan, on June 26, Monday. The public service is open to residents still in Marawi City, as well as residents who

personnel there. This, even as Dalaguit is calling on other organizations to continue their outreaches for the wounded soldiers. Located inside the camp of the 4th Infantry “Diamond” Division of the Philippine Army, is the Camp Evangelista Golf Club. It is a public golf course in Patag, Cagayan de Oro City. The 18-hole, 68 Par golf course was found to be a challenging course by players. The course is filled with mostly narrow fairways covered with carabao grass. The 5,573 yard golf course is decorated strategically.

Xavier Ateneo schools, colleges jump-start service learning program Report by Victoria Melissa C. Pulido (XU Social Development Office)

T he S e r v i c e L e ar n i ng Program (SLP) has begun a new cycle at Xavier Ateneo to bolster its aim to expose stu d e nt s to g r ass ro ot s communities and cultivate a more critical understanding of social realities, injustices, and responsibilities.

In the syllabus integration and assessment workshop with the different schools and colleges of the university, key stakeholders discussed how Service Learning (SL) would take part in the curriculum of various courses. The activity was also

aimed at developing among XU faculty and staff the skills of evaluating students using the appropriate assessment matrices and tools in SLengaged disciplines. SLP is a curriculum-based service learning experience for XU students from various academic disciplines. As part of its dynamics, the program will take the participants

SERVICE LEARNING LEADERS. The syllabus integration and assessment workshop with key stakeholders from different schools and colleges of Xavier University culminates with a group photo and lessons on how to evaluate students using the appropriate assessment matrices and tools in Service Learning-engaged disciplines. contributed photo

to partner communities and institutions in pursuit of constructive and transformative learning — an engagement that brings theoretical premise into proactive social relevance. The workshop started with an overview and presentation of objectives by S ocial Development Office (SDO) program officer Jannina D. Alfante, followed by an introductory session on SLP and the responsibilities of faculty by Arrupe Educational Center (AEC) director Maria Victoria Trinidad. The event workshop focused on the actual syllabus integration in the identified programs of the social development coordinators together with their respective college faculty members. AEC research consultant Dr. Butch Mahinay facilitated the workshop and emphasized on the essential elements of syllabus integration. In his presentation, he highlighted the significance of assessing student’s learning as an important part of the both academic and social formation, which can be done through rubrics. program/PAGE 10

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wednesday|june 28, 2017

SSS welcomes Senate hearings on Charter amendments

he Social Security System (SSS) welcomed the move of Sen. Richard Gordon to spearhead Senate discussions on the proposed charter amendments of the state-run pension fund. “We are very pleased that Sen. Gordon has chosen to prioritize SS Law reforms. This is a major step in our goal to make the pension fund more responsive to the needs of members and pensioners,” Social Security Commission Chairman Amado Valdez said. A Senate hearing led by Gordon’s Government Corporations and Public Enterprises (GCPE) committee joint with Labor, Employment and Human Resources Development committee was held on Tuesday afternoon to discuss several bills proposing to amend Republic Act 8282 or Social Security Law. Among the topics discussed was the adjustment of the monthly minimum pension of SSS members in the context of and taking into consideration House Bill No. 2158 that aims to rationalize the powers, duties and accountabilities of the Social Security Commission (SSC). HB 2158 was passed by the House of Representatives and transmitted to the Senate for concurrence on Jan 18. SSS President and Chief Executive Officer Emmanuel Dooc said the agency is fully supportive of the proposal to rationalize the powers of the SSC, especially in condoning penalties on delinquent contributions to enhance t he re ve nu e c ol l e c t i on mechanism of the pension fund while also allowing the pension fund to adjust the monthly salary credit and contribution tables. Gordon, GCPE chair, noted that the fund life of the SSS was shortened by 10 years due to additional benefit payment of P1,000/ month starting January this year. Thus, the need for SSS to

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

SSS Cares for Marawi through Philippine Red Cross As part of the pension fund’s corporate social responsibility, the Social Security System (SSS) extended financial assistance to soldiers and families affected by the ongoing armed conflict in Marawi, Lanao del Sur through the Philippine Red Cross (PRC). Photo shows Social Security Commission (SSC) Chairman Dean Amado D. Valdez (2nd from left) and SSS President and Chief Executive Officer Emmanuel F. Dooc (3rd from left) handed over the check worth P500,000 to PRC Chairman and Chief Executive Officer Senator Richard J. Gordon (4th from left) during the official turnover ceremony held last June 22 at the Philippine Red Cross National Headquarters located in EDSA corner Boni Avenue, Mandaluyong City. Also present at the ceremony were (from left) SSS Executive Vice President for Investments Sector Rizaldy T. Capulong, SSC Commissioners Diana Pardo-Aguilar and Atty. Arthur L. Amansec.

find ways to ensure the fund’s viability to serve members its current and future members. “Aside from being more aggressive in getting more members, the SSS should be given the leeway to invest its funds in worthwhile endeavors so it can generate more resources so that our people will receive more than a paltry amount when they retire or when they die. I think this is one of the legacies that any country should aim for,” Gordon said.

SSS is also supportive of the legislative initiative that seeks compulsory coverage of Overseas Filipino Workers (OFWs). “The volatility of the working conditions of OFWs make them more vulnerable to the contingencies sought to be guarded against by the SSS. Thus, compulsory social security coverage should be extended to the OFWs,” Gordon explained. The SSS also seek to allow the pension fund

to engage in insurance business for its members like the Government Services Insurance System (GSIS) to better SS fund. Gordon has filed SB 1198 that aims to rationalize the SS Law on October last year. During the hearing, the Dooc submitted its position paper with to the honorable committee for its consideration as substitute bill which consolidates a dozen of SSS-related bill filed in the Senate.

NGCP eager to ink deal with DICT for national broadband Bringing the country’s average internet speed close to first-world countries is now a step closer as NGCP prepares to formalize its agreement with the Department of Information and Communications Technology (DICT) on the use of the grid operator’s

fiber optic network for the national broadband program. “NGCP is pleased to be chosen by the government, through the DICT, to be its partner in the national broadband network (NBN) p r o j e c t . We a r e f u l l y supporting this program and its expedited implementation.

We are aware that a wellconnected nation, such as South Korea and Sweden, enables a fast-paced exchange of knowledge and information needed to further propel our country’s growth,” stated Henry Sy, Jr, NGCP President and Chief Executive Officer. ngcp/PAGE 10

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

Mayor Oscar Moreno executes a pose with the candidates of Miss Cagayan de Oro 2017 during the weekly flag raising Monday at City Hall. CIO

RUEMANGO APARTELLE & SUITES 516 Mangga St., Juna Subd., Matina, Davao City ruemangoapartelleandsuites@gmail.com www.ruemango.com Tel. Nos.: (082) 295-7175/ 295-7180

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wednesday|june 28, 2017

Lanao Norte emerges among top rice producers TUBOD, Lanao del Norte — The D ep ar t ment of Agriculture (DA) recognizes Lanao del Norte as one of the Top Seven Outstanding Provinces in the country’s rice production. Other Top Rice Producer awardees include the provinces of La Union, Pangasinan, Nueva Viscaya, Bulacan, Nueva Ecija, and Compostela Valley. On May this year, the Prov ince of L anao del Norte received the 2016 Rice Achiever's Awards at the Philippine International Convention Center in Pasay City. Provincial Governor Imelda QuibranzaDimaporo, Congressman Abdullah Dimakuta Dimaporo, 2nd District Representative of Lanao del Norte and head of the Provincial Agriculturist Office (PAO), Letecia G. Ditucalan and staff attended the awarding ceremony. The Rice Achie ver's Award aims to recognize the contribution of highly p e r for m i n g prov i n c e s , municipalities/cities, irrigators’ associations, small water impounding system, and agricultural extension workers in the national food self-sufficiency program. According to the Philippine Statistics

Authority, rice production grew from the 2016 output of 3.93 million metric tons (MMT) to 4.42 MMT this quarter with a corresponding increase of harvest area to 1.15 million hectares from the previous years’ 1.08 million hectares. Yield per hectare has also increased by 5.8 percent, or from 3.64 metric tons in 2016 to 3.85 metric tons in 2017. Lanao del Norte’s rice production in 2016 has increased by 2.78 percent metric tons. In 2015 the production yield per metric ton is 173,586 and has increased to 178,413 in 2016 that gives an increment of 4,826.85 metric ton. In 2015, the province contributed 0.96 percent to the national rice production which increased to 1.01 percent in 2016. The contribution of the Province of Lanao del Norte in the regional rice production is 25.10 percent which is more than a quarter of the total rice production of Region X. Good Climate and the favorable conditions of the country contributed to the growth of national rice production by the support of the DA for the farming sector said Secretary Emmanuel F. Piňol of the Department Of Agriculture. “This is just the beginning

of greater things to come. All that we need to do is to faithfully follow the roadmaps we have prepared”, said Secretary Piňol. Senator Cynthia A. Villar, chairman, Committee on Ag r i c u lture and Fo o d, pointed out in her speech that Farm Mechanization is essential to counter rice smuggling in the country. Farm mechanization decreases production expense particularly the labor cost. Vi l l a r s a i d , “ K a y a naman nabubuhay ‘yang rice smuggling kasi mahal ‘yung production cost natin c omp are d to Vi e t nam , kaya it’s profitable for the smugglers to smuggle rice in the Philippines, kung pareha ‘yung cost natin walang mag ra-rice smuggling.” During the Provincial Development C ouncil Meeting last June 16, 2017, Ditucalan presented to the Council, chaired by Governor Imelda QuibranzaDimaporo, the issues to be confronted to sustain the rice production of the Province. The challenges enumerated include low farm productivity, insufficient infrastructure, insufficient pre and post harvest facilities, p o or m ar ke t l i n k a ge s , vulnerability to climate and disaster risks as well as the

challenges of conversion of rice production areas to commercial, industrial and settlement areas, and the challenge of the increase percentage of population growth rate. The goal of the PAO is “To Be Rice Self-Sufficient At All Times” while its objectives is to increase rice (palay) production in the province by 19 percent in 2022 or 178,413 MT in 2016 to 212,515 MT in 2022; increase average yield of rice per hectare by at least 16 percent in 2022 or from 4.42 MT in 2016 to 5.11 MT in 2022; increase and or sustained rice self sufficiency from 129.85 percent in 2016 to 138.379 percent in 2022; improved farmers farm productivity; and ensure sustainability of the natural resource base. In addition, the Municipality of Lala, Lanao del Norte also received the same accolade in the Outstanding Municipalities and Cities category. In 2016, Lala has reached an average rice production of 6.498 for irrigated areas and 4.905 for rainfed areas. The Municipality is driven to maintain the role as food basket, to sustain the title it needs to preserve the prime rice land in its municipality for the next years to come. (PIO-LDN/PIA-10 LDN)

Amidst the turmoil in his homeland, Marawi City-based Jallaludin Casnor showcases his couture last Monday at SM City CDO, proving to all that Maranaos can excel even in the harshest of times. photo by mark doña francisco

Program... from page 8

In turn, SDO program o f f i c e r Je r o m e To r r e s presented the rubrics for assessing students’ reflections in their SL engagements. The workshop ended with an open forum to accommodate the insights and reflections of the people in attendance. Among the participants, XU College of Engineering dean Engr. Hercules Cascong expressed his full support to the SLP and said that he intends to fully engage his faculty and integrate service learning into their college’s curriculum. The syllabus integration and assessment workshop was the first activity of the SLP for this school year following the mandate of XU president Fr Roberto C Yap SJ that XU graduates should have at least

gone through one service learning engagement in their stay in the university. The activity is also an effort to bring together service learning implementers in order to mainstream service learning and institutionalize it as an integral part of Jesuit education at Xavier University. As part of the Society of Jesus, Xavier adheres to providing preferential options for the poor through service and the use of its expertise in development. The SLP also targets to bind future collaborative efforts and explore more possibilities for development and, in general, build the Filipino nation.

NGCP... from page 9

N G C P ’s f i b e r o p t i c cables covering 6,154 kilometers or 160,779

fiber kilometers will form the primar y network of Pres. D uter te’s pr ior ity program to bring wif i c on n e c t i on t o e v e r y corner, and virtually to ever yone in the countr y. Primarily used for internal communication, the u nu s e d p o r t i o n o f t h e cables will help ease the infrastructure burden faced by DICT as it can p i g g y b a c k o n N G C P ’s existing network. NGCP maintains, however, that there is still a need for the gove r nme nt to prov i d e last-mile connections and telecommunications-grade redundancies, to deliver services to the end-users. “S i n c e i t t o o k o v e r power transmission services and in line with its given mandate, NGCP has made significant upgrades to aging, outdated telecommunication

facilities inherited from TransCo to ensure reliable power transmission services through efficient c om mu n i c at i on w it h i n NGCP and with its c u s t o m e r s . B e c au s e o f these improvements, we can welcome a partnership for the national broadband program without compromising our primary function as grid operator and transmission service provider. Our government partners can be assured of NGCP’s full cooperation to implement this program a s s o o n a s p o s s i b l e ,” confirmed Sy. NGCP is a Fi lipinoled, privately owned c o m p a ny i n c h a r g e o f operating, maintaining, and developing the country’s power grid, led by majority shareholders Henr y Sy, Jr. and Robert Coyiuto, Jr.

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wednesday|june 28, 2017

UCPB... from page 1

cash center to another.” ”The movement of the cash within the Bank’s cash centers is an internal procedure, and as such, it does not need prior approval from the Bangko Sentral ng Pilipinas,” it said. ” T h e B a n k ’s l e g a l team in Cagayan de Oro is coordinating with port authorities to clarify the misunderstanding,” it added. The funds were intercepted from three people, who identified themselves as UCPB employees, while they were about to board a Cebubound passenger vessel. Reports citing Philippine Nat i ona l Pol i c e ( PN P ) Northern Mindanao Ma r i t i m e G r o u p h e a d Senior Supt. Rustom Duran said the cash and its bearers were intercepted after the Philippine Coast Guard (PCG) received an intelligence report from Task Force Oro that an armored van full of cash was on its way to Cagayan de Oro City. PNP Maritime Group 10 and PCG are part of Task Force Oro. Other members are the Philippine Ports Authority (PPA) police and the Cagayan de Oro City Police Office (COCPO) Station 5. After the Task Force released the intelligence report to its members, an advisory bulletin was issued to all personnel assigned at the port and at around 8 p.m., the PPA lookout saw an unmarked green armored van that was about to park in the port premises. The three persons inside the van requested for porters and unloaded four carton boxes, which authorities ordered to undergo x-ray inspection. R e s u lt of t h e x - r ay inspection showed that the boxes were full of cash, thus, the authorities put the three persons under custody.

ASEAN... from page 1

Philippines. For coal technologies, economically-advanced Asian countries are already way forward on to deployment of t h e a dv an c e d u lt r a supercritical (A-USC) as well as integrated gasification combined cycle (IGCC) and integrated gasification fuel cell cycle (IGFC) technologies. With technology upgrades and further modernization now being re-embraced as a ‘solution option’ to the world’s global warming dilemmas, the Asean + 3 countries set a consensus in the Manila meeting that they will “conduct regular sharing of relevant energy developments,” not just on coal plants but also on nuclear as well as on investment terrains in the oil and gas sector. For many countries though, decisive policy steps as well as market reinforcements are still being thought out so power plant developers would be enticed on pursuing technology upgrades in their facilities.

Department of Energy (DOE) explained that the ESF “focused on the latest energy trends in the region, including energy consumption, power generation and energy selfsufficiency.” The meeting similarly re vie we d “te chnica l preparations of the energy outlook of the Asean + 3 me mb e r- e c onom i e s ,” g e n e r a l l y h i g h l i g ht i n g modeling framework and major assumptions relating to total primar y energy supply (TPES), final energy consumption and power generation mix – integrating fossil fuels in attaining supplydemand balance and also factoring in efficiency gains as well as reductions of carbon dioxide (CO2) emissions. “Each ASEAN memberstate shared best practices on oil security and provided updates regarding their oil stockpiling status and directions,” the energ y department noted further. For Japan Oil Gas and Metals National Corporation (JOGMEC), it shared status report on its stockpiling capacity building program; while its Ministry of Economy, Trade and Industry (METI) had thrown light on their oil stockpiling outreach policy. There had also been discussions with China General Nuclear Power Group on “the sharing of experiences in nuclear frontend planning.”

Tracking...

from page 1 have not reported to them, she said in a radio inter view on Monday. Unte, however, clarified that none oftheir teachers were trapped in Marawi. “No teacher is missing, none, so far, based on the reports. But we continue to track them,” she said. She said she has yet to conf irm rep or ts that at least 145 of their teachers are in Davao del Sur and Davao City. She said she learned that Rosmia Pandapatan, one of their teachers, now teaches in a public school in Davao City. “A s i d e f r o m M s Pandapatan, wala na akong alam (I know nothing m ore ) . T h at i s w hy we have to verify the reports that some of our teachers have gone to Davao del Sur,” she added. Unte said their teachers were still receiving their regular pay through their automated teller machine cards, she said. She, however, s u g ge s t e d t o D e p E d i n the Autonomous Region in Muslim Mindanao that the teachers’ salaries should be paid in checks “so that we can confirm the warm bodies.” Shou ld D epE d ag re e t o t h i s , Un t e s a i d t h e t e a c h e r s m ay g e t t h e i r checks at their temporary c o ord i n at i n g s p a c e s at t he Iligan Cit y C ent ra l Elementary School and in Saguiaran, Lanao del Sur. (Malu Cadelina Manar/ MindaNews)

Food... from page 2

restaurant opened in 2013 in Sobrecarey in Obrero. They had transferred in another location also in Obrero. She says that joining the Weekend Market helps promote t he ir store in Obrero. Foot Traffic and word-of-mouth helps them market their store in fact some of the new customers in their Obrero store were customers at the Weekend Market. Customers can choose from Reyna Espetada (chicken thigh with rice side dish), Beef Espetada and King Espetada (chicken breast with rice side dish). Frybae has its deep-fried spare ribs, which according to Arthur makes it different from the others which offers grilled smoked ribs. Aside from being different, chef Arthur Sarenas wants the ribs to be served faster to hungry customers. Sisig Factory offers its Ninja Q, which is a line of rice toppings consisting of beef gyudon, Vietnamese barbeque, liempo inasal, teriyaki barbecue and spicy bulgogi. Dragon Dumplings offers its popular line of dumplings t h at i n c lu d e Por k a n d Shrimp siomai, Shark’s fin dumpling, Japanese Siomai, Chicken Dumpling, Ham Siomai and Crab Siomai. The stall is also selling its signature chili sauce the Dragon Dumpling Chili Sauce. Flocked by kids, teens and some young adults K-C otton Fries offers Korean cotton candy with different flavors such as bulgogi, honey butter, cream butter garlic, butter onion and salted egg. This writer had a full but happy tummy after trying all those selections. The Taste of the Nation is perfect for one food binge. Even with martial law, people are still flocking to the weekend market. Kat Dalisay says the Food of the Nation is a symbol of normality, that despite martial rule everything is still ok. “Actually wala siyang difference, all the more na gusto nilang (exhibitors) mag sell para at least maaware na despite merong martial law normal pa rin ang business dito.” (Actually there’s no difference, all the more they like to sell to help awareness that despite the martial law business is still normal.) And it was indeed business-as-usual, in the last night of the weekend market, recorded traffic was at 55,998 visitors. Kat is happy that the visitors nearly equaled the pre-martial law weekend market turnout. It also helped that the weather cooperated; much of the evenings was rain-free. Davao City is known for having sunny mornings and rainy evenings. On the drawing board is the weekend market for July which would be a festival

of world food, where each booth will showcase a dish of a particular country. And Kat is again counting that good food and the Dabawenyos gung-ho attitude will equalize any re m ai n i n g m ar t i a l l aw worries. (PIA/RG Alama)

Buying... from page 3

until 2022, “due to delays with the Pratt & Whitney engines selected to power the aircraft.” The planes were originally scheduled to be delivered starting September 2017 until 2021. In view of the delay in the A321 NEOs, Cebu Pacific has said it is buying seven Airbus 321CEO (Current Engine Option) aircraft worth $812 million to address increased capacity requirements. The Gokong wei-led airline said the seven A321CEO planes will be delivered starting March 2018.

Expanding... from page 3

Chinese tourist arrivals in the Philippines, so you’re looking at the big growth in tourism,” Villar told reporters. “You’re going to s e e an increase, even some of the other less well-known tourist areas are becoming more wel l - k now n . S o I t h i n k , we’re ju s t goi ng to participate in that,” he added. He mentioned that Vista Land aims to build hotels in its bigger developments. V i s t a L a n d developments are now in 117 cities and municipalities across the countr y. It targets to be in 200 locations this year. “S ome hotels will be o w n e d b y Vi s t a . S o m e hotels , not and w i l l b e managed by others. Some w i l l b e e v e n ow n e d by others, not just be on our property,” Villar said. “ We ’ r e l o o k i n g a t the next three years for hotels,” he added. When asked if the company is open to gaming ventures, Villar noted that “it is possible”, but only as potential tenants of its integrated resort projects. “We are not averse to gaming. It’s possible. Not necessarily Vista Land. I’m not sure Vista Land would be a gaming company but as a l e ss or as s ome one leasing to gaming company or buildings with gaming, it’s possible,” he said. Moreover, in the next five years, Villar mentioned that Vista Land is seen to go into industrial estates by developing economic zones across the country. Vi l l ar a d d e d t he company is looking for p ar t n e r s for i n du s t r i a l developments in the future. “ R i g h t n o w w e’r e residential, commercial, and office. We’re venturing tourism, as you know, and eventually we’ll probably some of industrial also,” the company said. (KMC/ PNA)

Award... from page 3

Hedcor’s obligations are of high quality and subject to a very low credit risk. The project notes issuance will be used to finance the redemption of a portion of preferred shares in line with AboitizPower’s capital management program to pay issue-related expenses and for general corporate purposes. This is the second to the highest credit rating with stable outlook from PhilRatings and the first in First Metro Investment Corporation (FMIC, Issue Manager) to structure this type of fundraising. It is also the first for AboitizPower to refinance through fixed rate notes offered to Primary Institutional Lenders (PILs) in accordance with the Securities Regulation Code. “ We w i l l c o n t i n u e to be committed to our obligations, build trust with our stakeholders and initiate projects that lead to the sustainability of our operations, our environment, and the advancement of our communities,” Rolando Pacquiao, vice president for Operations of Hedcor, said. Hedcor manages and operates 22 hydropower plants and supplies the country with 185 MW of clean and renewable energy. With almost 40 years of experience, Hedcor is the leading runof-river developer in the Philippines, which adheres to the guidelines of multiple international standards. (PR/ PNA)

Hurst... from page 4

you and me from judgment and hell forever for living our own way, even if we’re religious. That’s why Jesus is our only hope! But after we’ve asked Him to forgive us and take full charge of our life in a daily personal relationship. It’s then because He’s already forgiven and saved us, we’ll only want to spend the rest of our life growing and learning in His family, the church, how to live His right successful way every day. Just Think a Minute…

Cimagala...

to resign, and then fiercely prosecuted until they are jailed. McCann Erickson itself has to be held liable in presenting a plagiarized campaign from another nation, when it is clear that its contract with tourism officials was for it to come up with an original and credible campaign that would entice tourists to come here. As it were, McCann Erickson’s work not only shamed the Philippines, it will also surely drive away tourists to other destinations. -ooo WATCH “ANG TANGING DAAN” AT FACEBOOK: Please watch “Ang Tanging Daan”, a Bible exposition and prayer session for everyone, in English and Filipino, at w w w. f a c e b o o k . c om / angtangingdaan. Reactions: 0917 984 24 68, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

Branches... from page 5

(SES), said there are also 110 approved applications for new banking offices around the country in the first quarter of the year. To t a l approved applications for U/KBs reached 24;TBs, 12; and RBs and Coop Banks, 74.(JSV/ PNA)

Banks... from page 5

the importance of their reports, opting to just pay the penalty instead of meeting the deadline while others were challenged to provide high-quality data. He said the new circular would cover all banks, citing also that the central bank’s collection of penalties from late submission of reports would be big. “This one basically means (that) if you keep doing it (late submission of reports), you’re not just looking at penalty but other kinds of sanctions including holding accountable the individual of f icers, (who will b e) suspended or disqualified if it’s (late submission is) really persistent, and seemingly intentional,” he added.

from page 4

strictly supporting role. We have to avoid being so technically concerned about this whole business that we undermine the spiritual requirement. We have to assure ourselves that when we are spiritually healthy, the technical thing would just be met quite easily. A homily prepared and given without the spiritual requirement may manage to attract some attention, but in the end its effects would not be lasting. Sometimes it may manage to get the attention of the people the way a graffiti on a dirty wall can steal the people’s curiosity. roycimagala@gmail.com.

Batas... from page 4

the P650 million contract with McCann Erickson. They should be fired, not allowed

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wednesday|june 28, 2017