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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 1

AS OF 6:00 PM JUNE 5, 2020 (FRIDAY)



US$1 = P 49.800



X Briefly






Market Indicators



Exaggerated THE Philippines’ 17.7 percent record-high unemployment rate last April does not reflect the true picture of the economy and the jobs market due to the impact of the global pandemic, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a Viber message to reporters Saturday, Diokno said the unemployment rate in the fourth month this year “was more a result of the policy decision to save lives in response to the Covid-19 (coronavirus disease 2019) pandemic.” He said the April 2020 Labor Force Survey (LFS) was conducted from April 2 0 t o M ay 1 6 o r d u r i n g the enhanced community quarantine, which was initially raised over mainland Luzon since March 17 and was extended until May 12.


Monday|June 8, 2020


Regional economy needs P179-B to recover: Neda-X Thank you for trusting us!


HE National Economic and Development Authority (NEDA) 10 (Northern Mindanao) has projected that the region needs some PHP179 billion in stimulus funding and investment to regain its economy following the devastation wrought by the coronavirus disease 2019 (Covid-19) pandemic.

In a press briefing on Thursday, NEDA-10 Director Mylah Faye Aurora Cariño said they have crafted a regional recovery program to address the socio-economic impact of the health crisis in local settings, in coordination with the Regional Development Council. "This regional recovery program is our roadmap for our rehabilitation and recovery, which covers different sectors: economy, social services, RECOVER/PAGE 11

SWEEPER FLIGHT. At least 158 residents of the Bangsamoro Region and neighboring areas arrive at the airport in Awang, Datu Odin Sinsuat in Maguindanao aboard a sweeper flight arranged by the regional government on Friday, June 5. Most of the passengers were students from Baguio City and returning overseas workers who were stranded in Manila. mindanews photo by ferdinandh b . cabrera

Contact-less check-in AIRASIA Philippines on Friday provided guests with an option to choose contactless checkin as the carrier resumed domestic services. During the Laging Handa briefing, AirAsia Philippines head of communications, David de Castro, said the carrier already mounted flights between Manila and Cagayan de Oro on Friday. As the carr ier eyes a gradual resumption of flights in its key domestic routes, de Castro said they are hopeful to be able to fly to Cebu, Davao, and Puerto Princesa in the coming days.

We strive for Excellence!

Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

BARMM proposes recovery plan for Covid-affected firms By ALBASHIR SAIDEN, PNA

COTABATO City – The Regional B o ard of Invest ments of t he Bangsamoro Autonomous Region in Muslim Mindanao (RBOI-BARMM)

has conducted an on-site survey on four big processing companies in Lanao del Sur and Maguindanao to PROPOSES/PAGE 11

Malaybalay Diocese:

Attendance in masses limited to 50% of a church’s capacity By H. MARCOS C. MORDENO, MindaNews

SHOOTING BIRDS AT HOME. MindaNews’ Bobby Timonera won the first of a series of quarantine photo contests initiated by The Umbrella: Iligan’s Joint Photographers’ Society with his take of the rare bird known as Glossy Asian Starling, “Galansyang” in the vernacular. The contest is aimed at encouraging member-photo hobbyists to shoot from the confines of their homes. by bobby timonera

MALAYBALAY City – Masses may now be celebrated in the Diocese of Malaybalay with the easing of restrictions under a modified general community quarantine but attendance


should not exceed 50 percent of a church’s capacity, a directive issued by the diocese said. But the directive dated May 31 LIMITED/PAGE 11

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Marawi rehabilitation on target


HE Marawi City rehabilitation is on target. This was the report of most implementing agencies involved in the massive rehabilitation of the war-torn Marawi City to Task Force Bangon Marawi (TFBM) Chairman Secretary Eduardo Del Rosario during Wednesday afternoon’s video conference. The participants, mostly national and regional directors from various government agencies, committed to complete their respective projects within the December 2021 deadline set by TFBM for all infrastructure projects inside the most affected area (MAA).

Secretary Del Rosario, however, pushed the implementing agencies to target earlier completion date. “Work double time with your respective projects, coordinate among yourselves to ensure that all projects are synchronized, and will go full blast by next month,” the TFBM chairman stressed. “If you have to work 12 hours a day, do it,” he added. Marawi City Mayor Majul Gandamra, who participated in the video conference, said that all projects being undertaken by the local government unit (LGU) are well within the December 2021 target date.

“Groundworks have already started inside MAA,” Gandamra reported, adding “even before the approval of the Special Allotment Release Order (SARO).” The mayor was referring to the P3.56 billion budget approved for release by President Rodrigo Duterte in April and May for the rehabilitation works in Marawi City. “By July, we will have full-scale construction,” Gandamra vowed. He said all LGU projects, including the Grand Padian Central Market, Command Center, 24 barangay centers with health facilities and madaris and the Marawi Museum, will be

completed by the end of 2021. The National Housing Authority (NHA) reported that groundworks for road networks within MAA have also started and will be completed by July 2021. On the other hand, the Lanao del Sur Electric Cooperative (Lasureco) said that erecting electric posts in the priority sectors inside MAA is

almost completed and it’s just awaiting approval of the budget for the acquisition of a substation to address the increasing power supply requirement of Marawi. The current capacity of Lasureco could no longer sustain the increasing power requirement of Marawi City, where Mayor Gandamra has previously noted increased economic

activities that boosted tax collection. “It’s a sign of progress and a challenge to Lasureco,” admitted Omikalsom Maruhon of Lasureco. The Department of Transportation (DoTr) vowed to finish the Marawi City multi-level parking and transport hub within eight months after MARAWI/PAGE 11

Agusan Sur farmers get P4.1-M equipment from DA BUTUAN City – At least 49 farmers’ associations in the province of Agusan del Sur will directly benefit from the PHP4.1 million worth of farm equipment, the Department of Agriculture in the Caraga Region (DA-13) said Friday. The DA-13 said 53 units of pre and post-

harvest equipment were already delivered by DA-13 and now put in safekeeping at the Agusan del Sur Pagkain ng Bayan Compound in Bayugan City, ready to be claimed by the identified FA beneficiaries. “The Provincial Agriculture Office of Agusan del Sur will be

the one to arrange for the delivery of the said equipment to the farmer recipients,” said Rene Morales, chief of the Regional Agricultural Engineering Division of DA-13. The pieces of farm equipment include rice threshers, pumps, and engine sets with complete accessories, transplanters, rice reapers, and granule applicators cum seed spreaders. The newly-delivered farm facilities were funded through the DA-Rice Program-Regular Fund in support of agricultural modernization to help the farmers attain the DA’s twin goal of “Masagang Ani Mataas na Kita.” To ensure the proper handling, management, efficient and optimum use of the machinery, DAFARMERS/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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All roads lead to Uptown


FTER experiencing this economically humbling pandemic crisis understanding the true potential of Uptown Cagayan de Oro is probably the key to unlock the bright future for many business ventures in town. The City has a population of nearly 700,000 according to the last census in 2015 and has ambitious city expansion plans in Barangays Carmen, Canitoan, Lumbia and Pagatpat in Uptown making it the flagship project of the new growth areas of the city. According to the

Comprehensive Land Use Plan 2019-2027 the vision is to build a mixed use modern district on a 850 hectare area in Lumbia conceptualized by UN Habitat's Achieving Sustainable Urban Development (ASUD) Project with a government center, green belts, parks, open spaces, tree parks and tree strips along the main thoroughfares. While these development plans may still take some time to become reality the existing part of Uptown CdO is already a thriving community of businesses,

commercial districts, bars & restaurants, schools, residential and commercial housing developments, stylish mixed-use green condominium developments with retail, commercial, office and residential spaces designed by renowned international architects, hotels, Xavier University, a brand new hospital under construction, the regional trial court, an 18-hole first class golf course, an SM Mall and a PEZA accredited Special Economic Zone like the Pueblo de Oro I.T. Park that offers a superior location for I.T.

and BPO locators. On top of SM's expansion plans the home-grown mall operator Gaisano has also just recently announced its intention to build a 5-storey mall in Lumbia, just across Gran Europa. Such a development will add great value to the already existing commercial facilities in Uptown and will create new jobs. Even the city's well known white water rafting or kayaking adventures, one of the city's prime tourism activities is located along Cagayan de Oro River in Uptown. The fact that Cagayan de Oro Port has just


Vice President of the Italian Chamber of Commerce in the Philippines

recently opened the Philippine's biggest port passenger terminal makes it clear why the city is being classified as a strategic and prime development hub of the South, a major gateway and trans-shipment hub to/for Mindanao, especially through the access to the fertile lands of Bukidnon, part of which is now also included in Metro Cagayan de Oro. While downtown

has been prone to natural disasters especially during the past 10 years Uptown instead has remained free from calamities and is definitely considered one of the safest places to live. With the upcoming OpolCanitoan diversion road that will allow traffic going to Uptown to bypass Iponan and Bulua you can truly say that “all roads lead to Uptown”.



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BUSINESSWEEK MINDANAO CORPORATION Publisher DANTE M. SUDARIA President/CEO ALLAN MARIO MEDIANTE Vice President for Corporate Affairs RUFINO T. MAGBANUA Vice President for Business Development VICENTE C. DELA VICTORIA Vice President for Operations JOE FELICILDA Vice President for Administration JOHN AARON M. DEL BANDO Vice President for Events and Promotions

MIKE BAÑOS Vice President for Digital

Health authorities say Covid-19 is definitely a death sentence. Amen to this. Indeed, Covid-19 is too hot to handle. For over three months now, new cases are rising f a s t e r m ore t h an e ve r worldwide, at a rate of 100,000 a day over a sevenday average. Newly reported cases had already reached a high of 130,400 on the first week of June. Having said that, health protocols like wearing of face masks, washing of hands, and social distancing remain the





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Your biggest account Think a minute . . . Imagine every morning that somebody put $86,400 in your bank account. Then every night, whatever you did not spend that day was taken out of your account and burned. I’m quite certain you would spend every cent of your $86,400 every single day—so none of it would be thrown away and destroyed! Believe it or not, you actually have a bank account exactly like that one. But yours is filled with something far more valuable than money : time. When you run out of time, you run out of life. You either use it or lose it. Every morning your time bank gives you 86,400 seconds. Then every night, the time that you did not use that day is lost forever. “Lost time is never found.” That is why we must learn to spend our time on the right, best things. Remember: “If you kill time, it’s suicide— because time is what your life is made of.” This is why we must stop getting ripped off by the trivial, temporary things we spend so much of our time on. We pay a lot and only


new normal that cannot be easily ignored these days of pandemic. One thing to disregard is global panic — an unproductive and unwarranted mindset amid lockdowns because, for all we must know, a cure may soon outsmart Covid-19. While many patients found positive with coronavirus have already made full recoveries, those who died were elderly, or had other ailments that compromised their immune systems. Perhaps what is urgent now is public awareness, not

public panic. Pe o p l e s h o u l d t a k e precautions to avoid getting sick, but the most effective measures are everyday actions like staying at home and proper diet. Likewise, a united front in informing and educating the general public is urgently needed —to paint the real score on the reported pre s e n c e of t h e n ov e l Coronavirus in the country. To defuse that unwarranted tension, social media should also be more circumspect in spreading information that would only cause confusion


RUFFY MAGBANUA and panic. A campaign should focus more on the prevention rather than creating confusion. Stay safe. Stay home. (ruffy44_ph2000@yahoo.com)

Then and now



Too hot to handle

JOE PALABAO Vice President for Marketing ROSE MARIE D. SUDARIA Vice President for Finance

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IGNACIO BUNYE The COVID-19 pandemic will cause us to hit a rough patch, with the likely possibility of a recession, both domestically an d g l o b a l l y. A l re a d y, the pandemic has closed businesses, albeit temporarily, caused widespread unemployment, restricted foreign investments, trade, tourism, disrupted the supply chain and reduced overseas Filipino (OF) remittances. The consensus among our economic managers is that our recovery will be a Long U, or a W, rather than a V. The Bangko Sentral ng Pilipinas expects a U-shaped recover y with growth accelerating once the necessary measures intended to stem the spread of the virus are fully implemented. Romy Bernardo, a fellow BPI director, shares that G l o b a l S ou rc e Par t n e r s

e st i m ate s t h at “G DP growth this year is south of government’s downwardly revised low-end target of -3.4%, i.e. -5 to -7 percent.” On a bright note, Bernardo opines that “… the Philippines is better situated than many emerging countries to cope with the crisis given the Philippines stronger macroeconomic f u n d am e nt a l s , ro bu s t external balance sheet, healthy public finances a product of building on past reforms across a wide front.” Bernardo adds that “our monetary and fiscal authorities are working fast and we believe, in the right direction, in order to help the country come out of this slump sooner.” Today somewhat recalls a period when I joined the BSP more than a decade ago. As a member of the Monetary Board, I served as a member of the Board Risk Oversight Committee and I also served as Advisor to the Currency Management Committee and the Numismatic Committee. At that time, the country faced a global financial crisis, although not as bad as today’s. In 2008, inflation in the Philippines, fueled by huge oil price spikes, was at a high single digit. In 2007,

a year before I joined the Monetary Board, the subprime mortgage crisis in the United States began to unfold. And on September 2008, the Lehman bankruptcy, the largest in US history, became the principal trigger of the Global Financial Crisis (GFC). The subsequent Eurozone crisis in 2009 provided the additional aftershocks. How the Bangko Sentral skillfully performed its mandate of bringing down inflation to its present low, how it helped keep Philippine financial institutions stable and resilient in the face of the adverse external environment, how it relentlessly pushed its advocacy of financial inclusion, are a testament to the patriotism, integrity, dynamism, excellence and solidarity of BSP’s leaders (headed by then Governor Amando M. Tetangco, Jr.), its management and staff. Now we are facing a worse scenario - global pandemic triggering a global economic crisis. According to BSP Governor Benjamin Diokno, “The challenge is to provide tangible boost to the economy through the appropriate combination of fiscal response and monetary measures.” In response to

the crisis, the BSP aims “to stimulate growth by ensuring adequate domestic liquidity and credit in the financial system, as well as by lowering the borrowing costs for affected firms, especially MSMEs, and households.” To lower borrowing cost, the BSP has reduced key policy rates by 125 basis points and has indicated that it is prepared to further do whatever it takes. To inject more liquidity and available credit, the BSP has - even prior to COVID 19 reduced the universal and commercial banks’ reserve requirement ratio by 200 basis points. Taking the cue from the Bayanihan Act, the BSP has authorized the extension of the repayment of consumer loans, first for 30 days and then another 30 days. To help people easily open bank accounts or similar accounts from other financial institutions - vis-à-vis the government’s financial aid program for poor households affected by the pandemic - the Bangko Sentral has also eased the know-yourcustomer or KYC rules. It has likewise issued operational relief measures for foreign exchange transactions. To b o o st t he f u nds BUNYE/PAGE 11

Out of order comes chaos JHAN TIAFAU HURST get a little. So what are the smartest, best deals worth your time and life? The smartest, and safest, investment of your time is to spend it with the Person who gives you every second of your life. God created you so He could share His awesome life with you. He even came to show you what He is like, and the successful, satisfying way of living He designed you to enjoy. So the more time you spend with Jesus, the better you will know how to live well and wisely. In fact, He guarantees that if you spend your 86,400 seconds each day on living for Him, then when you run out of time, you will be an ACCOUNT/PAGE 11

A generational transition from the founder to offspring generation is a critical point in the life cycle of a family business. Owners believe t h e y h av e a f o o lpro of succession plan in place having accumulated wealth by single handedly growing the family business, but problems arise when the time comes to pass the torch. This story is the last part of the article I wrote last week involving four siblings that bitterly fought after the founder, their father, had passed away. The conglomerate has vast operations in different countries in Asia. Race Against Time Our first year was quite a challenge. It was a race against time. We were confronted with irrational behavior from all sides so we shifted to one on one engagements with the two warring factions. Session after session we continued to

reinforced their sense of duty by educating them regarding their respective shareholder roles and responsibilities and emphasized that family harmony energized with a commitment to continue the founder’s legacy can fuel enterprise growth and preserve their wealth. After re-introducing the importance of having a family constitution, our team made sure we roped the social document with ownership agreements. We were confident that securing agreed upon shareholder rules and documenting them would define the foundation in building sibling confidence, enthusiasm and effectively restore trust within the family. Moreover, by clarifying their roles, the lines of communication continued to remain open. In the end, our mission was to stop the hostility at all cost.

Building and fostering mu t u a l u n d e r s t a n d i n g amongst stakeholders is key to wealth preservation and growth. Every family member must understand that a majority of family businesses have failed as a result of internal factors, rather than external factors. And these internal factors included the failure to set in place owner/ manager policies, a plan for succession and managing family conflicts. Defiance to Trust to Sense of Duty To the consulting team, our mission was to build trust and openness. After a few more sessions of getting everyone understand our governance mandate, we saw a change in attitude from sordid defiance to a deeper sense of duty in continuing the founder’s legacy. With the sessions gaining traction, the siblings soon realized that

PROF. ENRIQUE SORIANO only through unity and a shared vision can the family business move forward. They also acknowledged that family unity comes with some sacrifices. And our role was to inculcate the family member’s fiduciary role of single minded loyalty to the business. This means that family members must be willing to give up some of their own personal freedoms "for the greater good.” In CHAOS/PAGE 11

CorporateWorld 5 AirAsia PH cuts 12% of local jobs Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776



HILIPPINES AirAsia, Inc. on Friday said it had reached a tough decision to cut 12% of its Filipino staff while senior employees had offered a pay cut to help the low-cost carrier stay afloat. “Despite all our efforts to curb the effects of the pandemic, AirAsia has made the difficult decision of reducing the company’s workforce, but has done everything to keep the number of affected employees to a minimum, totalling 12% of all Filipino Allstars,” it said in a statement. It said the aviation industry had been hit hard by the

coronavirus disease (COVID-19) pandemic, and that the budget airline was no exception. “In our effort to further manage and contain costs, both the management and senior employees of AirAsia Group have volunteered a salary sacrifice, ranging from 100% at the very top to 15%,” it added. AirAsia said the move would help ensure that the company could ride out a prolonged period of “extremely low travel demand” while minimizing the impact on its employees, especially those in junior posts. On Friday, Philippines AirAsia cancelled its Cebu flights as it kicked off the

Coca-Cola strengthens digital platforms to drive demand COCA-COLA Beverages Philippines, Inc. is boosting its digital platforms to cope with changing consumer behavior due to the coronavirus disease 2019 (COVID-19) pandemic. Winn Everhart, president and general manager of the local unit of Coca-Cola, said the company is now focusing efforts to improve its e-commerce presence to lift consumer demand. “With the ongoing shift in consumer behavior, we have… observed that a lot

are moving into the online world rapidly and we are therefore strengthening our digital and e-commerce platforms,” he said. The company currently operates a delivery service that sends CocaCola products straight to homes. Among these products are carbonated drinks, flavored juice and bottled water. “Coca-Cola has always been a staple in Filipino households, and we will continue to build on this DIGITAL/PAGE 11

first day of its domestic flight resumption. “We had hoped to also mount our flights from Manila to Cebu and Clark to Cebu, but sad to say, there were new developments that came in last night, so we had to cancel these flights,” said David F. de Castro, AirAsia Philippines communications head, in the Laging Handa virtual briefing, Friday. Mr. de Castro said the cancelation was decided in coordination with the InterAgency Task Force and aviation authorities. The Department of Health coronavirus disease 2019

(COVID-19) tracker showed that as of June 4, 138 new cases were reported in Central Visayas, bringing its total confirmed cases to 2,957. Despite the cancellation, the airline on Friday was still able to resume flights on its domestic routes, beginning with a flight from Manila to Cagayan de Oro. “Hopefully soon, in the coming days, papaliparin na rin papuntang (we’ll be able to fly to) Cebu, Davao, Puerto Princesa,” he said. He added that AirAsia maintains its plans to eventually open international flights in July. “For the international flight, we expect na mag-re-resume

tayo (that we’ll resume) by July,” he said. “Buhay na muli ang ating aviation industry, slowly but surely dadami ang ating flights.” (The aviation industry is back, slowly but surely there will be more flights) The industry had been allowed to operate again at limited capacities, along with other modes of public transportation, upon the easing of the Luzon-wide lockdown on June 1. The entire Luzon had been placed on a lockdown since mid-March, suspending work, classes, and public transportation.

Auto sales shrink 65.7% in 1st quarter First quarter car sales plummeted 24.4 percent largely pulled down by a whopping 63 percent decline in March, the weakest monthly performance in the auto industry, as President Duterte placed the country under a state of public health emergency and subsequent lockdown due to COVID-19. A joint report by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed the first quarter

sales reached only 64,542 units as against 85,388 units in the first quarter of 2019. Sales of passenger cars sharply declined by 32 percent with sales of 17,786 units only from 26,172 units last year while commercial vehicles also decreased by 21 percent to 46,756 units from 59,216 units. All categories in the commercial vehicle segment posted sharp declines except the Asian utility vehicle, which held its own to post an impressive 18.8 percent

increase in the first quarter this year to 8,780 units from 7,390 units in the same first quarter 2019. Sales of sports utility vehicles or the light commercial vehicle category went down 25.6 percent to 35,930 units. Sales of light trucks or pick-ups declined 45.8 percent, the deepest cut among all categories. Trucks and buses (Category 4) also fell 41.7 percent to 712 units while large trucks (category 5) was down 20.9 percent to 238 units sold. On a monthly basis,

all categories posted sharp declines. Sales in March posted the sharpest fall at 63 percent sales reached only 11,029 units from 29,790 units in the previous month, February. The March’s sales figure was also 65.7 percent lower versus 32,173 units in the same month last year. There were only 3,150 units passenger cars sold in March or 61.08 percent lower compared to February and 65.8 percent versus March 2019. Commercial vehicles also fell 63.7 percent versus SALES/PAGE 11





Monday|June 8, 2020


Suzuki Offers Discounts to Frontline Workers with the Big Hero Promo


HE past couple of months have been challenging for the whole country, even globally, as we faced the effects and consequences of the COVID-19 pandemic. Amid lockdowns and quarantines, frontline workers across different industries have continued their dedicated work and responsibilities for our countrymen. Suzuki Philippines (SPH), the country’s

pioneer compact car distributor is happy to announce Big Deals for the Big Heroes of the Country! Through the Big Hero Promo, SPH hopes to extend their gratitude and salute the individuals who stood bravely against the backdrop of trying situations in service of the Filipino people. The Big Hero Promo entitles verified frontline workers to a Php15,000.00 discount on their choice of

Suzuki Philippines featured models which are APV, Celerio, Ciaz, Dzire, Swift, and Ertiga (excluding Ertiga Upgrade variant). This discount goes on top of the prevailing prices of the vehicles that SPH hopes can ease financial challenges for those who want to purchase as a first step to overcoming public transport problems due to the pandemic. The Big Hero Promo is applicable to all frontline workers who have been

or continue to provide essential or public services that include those from government, hospitals and clinics, retail (groceries and markets), transport, banking, hospitality (hotels, restaurants, cafes), news or media, manufacturing, gasoline stations, logistics, and volunteers dedicated to providing relief goods and services to those who are deeply affected by COVID-19. Suzuki Philippines

has made sure that the Big Hero Promo may be availed by our frontline heroes conveniently. All frontliners have to do is present a valid ID associating their profession or field with the specified industry, and for volunteer workers, a certification from the Local Government. The Big Hero Promo is available throughout all Suzuki dealerships nationwide from May 29, 2020 to June 30, 2020.

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Banking&Finance BSP rate cut seen this June due to unemployment rate uptick Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776




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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

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 PLANTERS DEVELOPMENT BANK

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


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 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


HE continued deceleration of the Philippines’ inflation rate is a non-issue vis-à-vis the central bank’s key policy rates but a possible rate cut is projected this month after the government reported a record-high unemployment rate last April. In a report on Friday, ANZ Research said the deceleration of domestic inflation rate last May to 2.1 percent from the previous month’s 2.2 percent “remains a nonissue for monetary policy at this stage.” “Of greater importance is for monetary policy to support growth, either directly or via assisting smooth funding of the various fiscal measures to support growth,” it said. On the other hand, ANZ Research cited the 17.7 percent unemployment rate in the fourth month this year, which the Philippine Statistics Authority (PSA) already reported Friday.

This report, it said, shows that “the pressure on the real economy is becoming very evident.” “Depending on the durability of higher unemployment, the impact on aggregate demand could be very significant,” it said. ANZ Research, however, noted that Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno has repeatedly indicated readiness to further ease the central bank’s key policy rates to further help support domestic growth amid the impact of the global pandemic. To date, the central bank’s overnight reverse repurchase (RRP) rate is 2.75 percent, the overnight lending rate is 3.25 percent, and the overnight deposit rate is 2.25 percent. These have been cut by a total of 125 basis points since the start of the year to support domestic growth as the inflation rate continues to slow down. The BSP’s policy-making

Monetary Board (MB) will have its fourth rate-setting meet for the year on June 25. Meanwhile, ING Bank Manila senior economist Nicholas Mapa, in a report, said the further slowdown of the May 2020 inflation rate gives monetary officials further scope to reduce the key rates. “Decelerating inflation and the need to provide additional stimulus to an economy headed for a recession sets up a possible BSP rate cut at the 25 June meeting as unemployment data surged to 17.7 percent,” Mapa said. He noted that Diokno has continuously said the BSP has elbow room to reduce further the key policy rates because of a benign inflation outlook for the year. “Although we believe that the central bank will carry out at most a 25 bps rate cut before pausing for the rest of the year to keep real policy rates positive,” Mapa added. (PNA)

PH inflation rate slows further to 2.1% in May RATE of price increases further decelerated to 2.1 percent last May from April’s 2.2 percent primarily due to the drop in the annual inflation rate of the transport index. It averaged at 2.5 percent to date, within the government’s 2 to 4 percent target band until 2022. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, in a Viber message to journalists Friday, said the inflation rate in the fifth month this year is within the central bank’s 1.9 to 2.7 percent forecast band for the month. “The latest inflation number is consistent with the prevailing assessment by BSP that inflation is

expected to remain benign over the policy horizon due largely to the adverse impact of the (coronavirus disease 2019) pandemic on the domestic and global economy,” he said. He explained that for the whole of this year and next year, baseline projection shows that inflation will settle below target. Specifically, monetary officials forecast inflation to average at 2 percent this year and 2.5 percent next year. Relatively, while the economy will take a hit from the global pandemic, Diokno said it “is expected to bounce back to its potential output growth in 2021 once the impact of the government’s fiscal and

monetary measures gain traction.” He said the main inflation risks to date are the volatility of oil prices in the international market and international rice supply because of lower output among producers in the Association of Southeast Asian Nations (Asean) due to the drought in the Mekong Delta. Because of these risks, Diokno reiterated the BSP’s “support for urgent and carefully coordinated measures with other government authorities to ease the adverse effects of the coronavirus pandemic on individuals and firms, with a view toward preventing any long-lasting economic and social damage.”

“In addition to the monetary policy actions that have been deployed so far, the BSP stands ready to use all available measures in its policy toolkit as it continues to assess the impact of the global pandemic on the domestic economy and the Filipino people,” he added. Among these monetary policy actions are the total of 125 basis points reduction in the central bank’s key policy rates, the 200 basis points cut in universal and commercial bank’s (U/KBs) reserve requirement ratio (RRR), and the decision to consider as RRR compliance banks’ loans to micro, small and medium enterprises (MSMEs). (PNA)

GSIS adopts contactless filing of claims, benefits TO help curb the spread of the coronavirus disease 2019 (Covid-19), state pension fund Government Service Insurance System (GSIS) is now adopting contactless methods of accepting application for claims and benefits after successfully shifting to online loan application in March this year. “We are moving to new methods of transaction to provide our members and pensioners the same quality service, without needlessly exposing them to health risks and viral infection,” GSIS president and general manager Rolando Ledesma Macasaet said in a statement Thursday. He said government employees, retirees, and

beneficiaries may submit their application forms and requirements to GSIS, which may be through either postal mail or delivery courier, drop boxes located in the lobbies of all GSIS branch offices nationwide, or electronically through email. The contactless transactions will apply to the filing of claims and benefits including retirement, life insurance (maturity or cash surrender regular or optional policies), survivorship, death, funeral, employees compensation, pre-need, and request for pension accrual. “Claimants must download the pertinent application forms, which may be accessed in the GSIS website (via https://www. gsis.gov.ph/downloadable-

forms/). Then, they may either choose to print the form and send it manually to GSIS either by drop box or by snail mail, or they may opt to send their application electronically via email through an email address designated by GSIS for a particular area,” Macasaet said. Members who opt to file their application through email may file it through their agency authorized officer or liaison officer; or submit it using their personal email, preferably the email address that was originally recorded in their GSIS files. They must also attach the required documents for the particular claim that they are applying for.

In addition to the requirements, they must submit a clear photo of the claimant holding the duly accomplished application form and Unified Multipurpose ID (UMID) card or two valid IDs in the absence of a UMID card. Claims filed through email will be processed upon verification that documents submitted are complete and with no deficiency; and submission of the original copies of the documents through dropbox, within 10 work days, from sending the email application. “Once received, the proceeds of their claim will be released and/or credited to their respective bank accounts,” Macasaet added. (PR)

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10 EXTRAJUDICIAL DEED OF PARTITION KNOW ALL MEN BY THESE PRESENTS: That the late RUPERTA L. DELLOSA who died on March 16, 2011, at Cagayan de Oro and RUFINO N. DELLOSA who died on December 24, 1973, at Cagayan de Oro, RUFINO N. DELLOSA and RUPERTA L. DELLOSA died intestate, without Will or Testament, and without any outstanding debts in favor of any person or entity; the said deceased left the following parcels of land more particularly described as follows: a. A parcel of land with Transfer Certificate of Title No. T-41288 situated in the Barrio of Kauswagan, City of Cagayan de Oro, Island of Mindanao, containing an area of Four Hundred Seven (407) Square Meters, more or less, b. A parcel of land with Transfer Certificate of Title No. T-41289 situated in the Barrio of Kauswagan, City of Cagayan de Oro, Island of Mindanao, containing an area of Four Hundred Seven (407) Square Meters, more or less, c. A parcel of land with Transfer Certificate of Title No. T-27919 situated in the Barrio of Poblacion, Municipality of Laguindingan, Province on Misamis Oriental, Philippines, containing an area of One Thousand One Hundred Eighty Nine (1,189) Square Meters, more or less, d. A parcel of land with Original Certificate of Title No. P-5052 situated in the Barrio of Sungay, Municipality of Alubijid, Province of Misamis Oriental, containing an area of Eighty Two Thousand Nine Hundred Thirty Seven (82,937) Square Meters, more or less, e. A parcel of land with Transfer Certificate of Title No. T-31932 situated in the Barrio of Poblacion, Municipality of Laguindingan, Prov. Of Mis. Or. Island of Mindanao, containing an area of Nine Hundred Forty Nine (949) Square Meters, more or less, f. A parcel of land with Transfer Certificate of Title No. T-31036 situated in the Barrio of Poblacion Mun. of Laguindingan, Prov. Of Mis. Or. Island of Mindanao, containing an area of One Thousand Six Hundred Thirty Seven (1,637) Square Meters, more or less, g. A parcel of land with Tax Declaration No. 08-18-0001-00451, situated in the Poblacion, Municipality of Laguindingan, Province of Misamis Oriental, containing an area of 1.4950 hectares, h. A parcel of land with Tax Declaration No. 08-18-0004-02337 situated in the Kibaghot, Municipality of Laguindingan, Province of Misamis Oriental, containing an area of 1.0000 hectares, i. A parcel of land with Tax Declaration No. 08-18-0004-02341 situated in the Kibaghot, Municipality of Laguindingan, Province of Misamis Oriental containing an area of 1.1882 hectares, j. A parcel of land with Tax Declaration No. 08-18-0010-05075, situated in the Sinai, Municipality of Laguindingan, Province of Misamis Oriental containing an area of 1.4710 hectares, k. a parcel of land with Tax Declaration No. 08-18-0001-00469, situated in the Poblacion, Municipality of Laguindingan, Province of Misamis Oriental, Containing an area of 0.0200 hectares, l. A parcel of Land with Transfer Certificate Title No. T-27920 situated in the Poblacion, Municipality of Laguindingan, Province of Misamis Oriental, Philippines, containing an area of Seven Hundred Twenty Three (723) square meters, more or less, m. A parcel of land with Transfer Certificate of Title No. T-34006 situated in the Barrio of Poblacion, Municipality of Laguindingan, Province of Misamis Oriental, Philippines, containing an area of Five Hundred Seventy Five (575) square meters more or less, n. A parcel of land Tax Declaration No. 08-18-0001-10412 situated at Poblacion, Municipality of Laguindingan, Province of Misamis Oriental containing an area of 1.4598 hectares, o. A parcel of land Tax Declaration No. 08-180001-00869 situated at Poblacion , Municipality of laguindingan, Province of Misamis Oriental containing an area of 1.5000 hectares, p. A parcel of land with Tax Declaration No. 08-18-0001-00773 situated at Poblacion, Municipality of Laguindingan, Province of Misamis Oriental containing an area of 1.5000 hectares, q. A parcel of land with Tax Declaration No. 08-18-0001-10408 situated at Poblacion, Municipality of Laguindingan, Province of Misamis Oriental containing an area of 2.0793 hectares, r. A parcel of land Tax Declaration No. 08-18-0001-10407 situated at Poblacion, Municipality of Laguindingan, Province of Misamis Oriental containing an area of 1.3270 hectares agri & 0.0400 hectares Res., s. A parcel of land with Transfer Certificate of Title No. T-136-2017000006 situated in Poblacion, Laguindingan, Misamis Oriental, island of Mindanao containing an area of One Thousand Eight Hundred Fifty One (1,851) square meters more or less, t. A parcel of land with Transfer Certificate of Title No. T-42509 situated in the District of Dampas, City of Tagbilaran, Bohol, Philippines, containing an area of Six Hundred Eighty Four (684) Square Meters, more or less, u. A parcel of land with Transfer Certificate of Title No. T-42514 situated in the District of Bool, City of Tagbilaran Bohol, Philippines, containing of an area of Seven Hundred Ninety Four (794) Square Meters, more or less, v. A parcel of land with Transfer Certificate of Title No. T-42515 situated in the District of Bool, City of Tagbilaran, Bohol, Philippines containing an area of Seven Hundred Ninety Three (793) square meters, more or less, w. A parcel of land with Transfer Certificate of Title No. T-42510 situated in the District of Dampas, City of Tagbilaran, Province of Bohol, Philippines Containing an area of Two Thousand One Hundred Seventy Two (2,172) Square Meters, more or less, x. A parcel of land with Tax Declaration No. 08-17-0005-02192 situated at Lagtang, Municipality of Alubijid, Province of Misamis Oriental containing an area of 0.8504 hectares, y. A parcel of land with Tax Declaration No. 08-17-0005-02190 situated at Lagtang, Municipality of Alubijid, Province of Misamis Oriental containing an area of 1.3948 hectares, z. A parcel of land with Tax Declaration No. G-004524 and the Building with Tax Declaration No. G-004525 situated at Capistrano st., Barangay 15, Cagayan de Oro City containing an area of 0.0110 hectares, aa. A parcel of land with Tax Declaration No. 2008-4L-0013 and Property Identification No. 154-01-004-01-015 situated in the District of Bool, City of Tagbilaran, Bohol, Philippines containing an area of 318 square meters, and has been the subject of an EXTRAJUDICIAL DEED OF PARTITION, filed by the heirs of Spouses Ruperta l. Dellosa and Rufino N. Dellosa, per DOC #180; PAGE #36; BOOK #27; Series of 2020 under the Notarial Registry of ATTY. ROWELL B. VALLEDOR. BWM: May 25, June 1 & 8, 2020

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5 top symptoms sa COVID-19, bantayan SA 14 nga simtomas aron masayran nga nataptan ang tawo sa coronavirus disease 2019 (COVID-19), ang top 5 symptoms niini maoy manipestasyon nga angay bantayan—hilanat, gahi nga ubo, hago ang paminaw sa lawas, dili ganahan mokaon, ug panakit sa kalawasan. Kung dunay ingon ani nga gibati ang tawo, kinahanglan na kini ipakonsulta sa eksperto. Kini ang pahimangno ni Provincial Health Officer ug concurrent Provincial Task Force for COVID-19 chief Dr. Jerie Calingasan ngadto sa publiko hilabina sa mga empleyado sa kapitolyo probinsyal sa Misamis Oriental. Apan, matud ni Dr. Calingasan, malikayan kini pinaagi sa pagsunod sa health safety protocols sa Department of Health (DOH), mao ang regular handwashing gamit ang sabon, pagsuot sa facemask, social distancing ug pagpuyo sa balay.

Gitataw sa eksperto nga motakboy ang makamatay nga virus pinaagi sa “person to person” contact mao nga kinahanglan gayud maglikay sa mga lugar nga daghan tawo, susama sa mall, merkado ug uban pang pampublikong lugar. Tungod niini, gihangyo ni Dr. Calingasan si

Provincial Administrator Atty. Jocelyn Lood-Mateo nga magbutang og dugang lavatories palibot sa kapitolyo aron batasanon sa mga empleyado ug mga kliyente sa kapitolyo ang pagpanghugas sa kamot matag oras; magbaton og thermometer ang matag opisina aron kaduha sa isa ka adlaw ma-monitor

ang ilang temperature sa lawas isip kabahin sa disinfection ug health monitoring. Gihangyo usab ni Dr. Calingasan ang tanang empleyado ug ang publiko nga batasanon ang paginom sa tubig, pag-inom sa Vitamin C aron kusog ang resistensiya batok sa bisan unsang matang sa virus.

DOH-10 beefs up LIGTAS -COVID Centers assistance CAGAYAN DE ORO CITY-With the rising number of suspected and confirmed cases coronavirus disease (COVID)-19 in Northern Mindanao, the Department of Health (DOH)-10 together with the Department of the Interior and Local Government (DILG)-10 strives to decongest the COVID referral hospitals (Level 3 hospitals) for the worst-case scenarios by strengthening the isolation units in each locality. With over 173 centers listed by DILG-10 of 30 are 100 percent compliant, the DOH-10 aims to leverage on the compliant isolation units so it can focus its resources and manpower to the said facilities which have passed WHO COVID-19 protocols and standards. “Having a compliant LIGTAS-COVID center or isolation unit here in region 10 means we have the best interventions and

quality health services, especially now that we are transitioning to a modified general community quarantine with repatriates coming home every day. We will have a safe and humane space to house them in compliance with infection protocols,” DOH10 Health Education and Promotion Officer (HEPO) Aian Rebollido Caridad said.


Rommel Gutierrez said that the double-digit negative growth recorded in March 2020 is the weakest monthly performance of the auto industry so far. Gutierrez said that this is attributed to the shutdown of dealerships in the second half of March

from page 5

February with only 7,879 units sold and 65.7 percent versus March 2019. All other categories posted sharp declines from 50 to 77 percent. CAMPI President Atty.

Fully functional facilities are able to accept suspected and confirmed cases with moderate to mild symptoms to decongest COVID-19 hospitals in the region especially those requiring 14-day mandatory quarantine. In the meantime, DOH10 is providing technical assistance to the remaining 143 LIGTAS-COVID Centers in the region "to

ensure compliance and make its services fully operational as soon as possible." “Our licensing division here in the DOH, on the other hand, continuously provides technical assistance for the accreditation and assessment of the remaining LIGTAS-COVID Center in the region,” she said. (VPSB/PIA10)

DOH-10 Regional Director Adriano Suba-an cites the health department's dedication to empowering and providing technical assistance for LIGTAS-COVID centers. (VPSB/PIA10)

during the enhanced c om mu n it y qu ar ant i n e (ECQ) placed over Luzon due to COVID-19 pandemic. “The impact of COVID-19 pandemic can already be felt as early as March. We will continue to assess further effect as

the community quarantine continues to be in place.” “Indeed, challenging times ahead for the i n du s t r y. For n ow, t h e industry remains hopeful for t he cont ainment of the virus at the soonest possible time while being resilient amid this crisis”.


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Account... from page 4

extremely wealthy person in His eternal economy. The other smart investment of our time is people. At the end of your life, you will never be sorry for the time you spent with your children, your wife or husband, your brothers and sisters, parents, and good friends. Furthermore, you will never regret the time you spent helping others around you—including your neighbors, fellow workers, and strangers. Giving your time to people only makes you richer, since the return on your investment just keeps growing. Thankfully, as long as we are still breathing, it’s never too late to change! So won’t you get started today? Sincerely ask Jesus to forgive you. Then ask Him to help you start wisely using the time you still have left by living His way every day. His way is the only way you can have the certain and complete security of His everlasting life the moment you run out of time. Just think a minute .

Chaos... from page 4

summary, what objectives did we achieve in finally reuniting the family and saving the business from break up? Objective 1: Strengthened Family Unity with a 100 Year Vision · Diffuse the tension · Educate, Mediate and Pursue Governance · Institutionalized a Code of Conduct · Re-introduce the Family Constitution and Shareholders Agreement O bj e c t i v e 2 : C re at e a Communication Platform · Activated the family council · Put family policies and ideas into practice · Enforced the polices signed by the family members · Prepare for possible relapse and complacency · Create a problem solving and conflict resolution platform Objective 3: Improve the level of Individual Competencies · Require Education and Training to reinforce raw competencies covering · Stewardship, shareholder knowledge, Inlaw and Next Gen Entry and Exit Rules For my team at Wong and Bernstein, it was a grueling two years of constantly pounding the true essence of family harmony and the significance of having open and honest communication. Our initiatives and the family members’ willingness to give peace another chance averted what would probably have been a disastrous consequence for the family and the business.

Bunye... from page 4

for COVID 19 response, the Monetary Board has authorized the BSP to buy up to PHP300 billion worth of government securities with a maximum redemption

period of six months. To date, BSP has purchased a total of P62B worth of GS from the secondary market. The move has boosted domestic liquidity as shown by oversubscriptions in the latest T-bill, T-bond and Term Deposit Facility auctions. The infusion of funds has also resulted in lower weighted average interest rates (WAIR) in the interbank market. Moreover, GS purchases by the BSP in the secondary market helped improve GS market activity. Governor Diokno acknowledges that “the outbreak of COVID-19 has potential significant impact on the operations of banks and other financial institutions in terms of risks related to exposures to borrowers and/ or industries or businesses severely disrupted or affected by COVID-19.” To e nc ou r age l e nd i ng , especially to the MSMEs, the Monetary Board has already approved the granting of temporary regulatory and rediscounting relief measures to BSP-Supervised Financial Institutions (BSFIs). Loans granted to MSMEs shall be counted as part of banks' compliance with reserve requirements. The Bangko Sentral, led by Governor Diokno has, indeed, moved fast - and in the right direction - in order to get us back up again on our feet. Note: You may wish to share this article via Facebook, Twitter or Linked-In.

Marawi... from page 2

securing notice to proceed. Both the Departments of Health (DOH) and the Public Works and Highways (DPWH) also committed to complete their respective projects within the selfimposed timeline. “These prove government c r it i c s w ron g . L e t m e reiterate that their claims of inaction and neglect are very inaccurate and unfair,” Secretary Del Rosario said. “ T h e g o v e r n m e n t ’s commitment is not only to rehabilitate Marawi City but to establish a peaceful and economically progressive city. It is not only constructing physical infrastructures but equally important are the numerous social, economic, health, educational, and peacebuilding interventions that TFBM agencies had i mp l e m e nt e d a n d w i l l continue to pursue,” he concluded. (DHSUD)

Farmers... from page 2

13 said beneficiaries to the program had already undergone training on the operation and maintenance. The DA-13 said regional direc tor Ab el James Monteagudo ordered all DACaraga units to facilitate the distribution of farmer’s interventions to attain the food sufficiency goal of the department amid the pandemic. With the provision of the farm machinery, the agency said it expects an increased

yield of one to two metric tons among the rice farmers in the region, coupled with the previous interventions such as the free distribution of seeds and fertilizers, loans, and training. The DA-13 also said it is set to release the next batch of farm equipment intended for the corn, cassava, and high-value crops farmers in the region. The provision of farm machinery, it added, is in line with Secretary William Dar’s priority in the modernization of farming in the country. (PNA)

Recover... from page 1

social services, infrastructure, transportation. And we are looking at good governance and cost-cutting concerns, including peace and order, as well as concerns of being gender-s ensitive, b eing inclusive by considering our vulnerable sectors, and also ensuring the integrity of our environment is protected," Cariño said. She also estimated output losses in the region at PHP17 billion between March 15 and May 31 following the c om mu n it y qu ar ant i ne that severely restricted the movement of people and goods in Northern Mindanao. The estimate was based on the number of companies that applied for financial assistance from the Department of Labor and Employment (DOLE) 10, Cariño said. " T h e re w e re 1 0 , 4 0 0 companies, with around 182,000 employees, that applied to DOLE for financial assistance. This might not even cover the whole workers because not all companies have applied," she said. Until a vaccine or a c u re is d e vel op e d and mass-produced to combat Covid-19, Cariño said output losses of about PHP47 billion could be expected to hit the regional economy by the end of the year. She said the agency does not expect all economic sectors to quickly recover since most businesses remain at 50 percent to 80 percent operating capacity only. (PNA)

Proposes... from page 1

determine the status of business and investments of various firms affected by the coronavirus disease 2019 (Covid-19) pandemic. RBOI-BARMM governor Mohammad Pasigan said the June 2-3 survey aims to identify the impact of the Covid-19 pandemic on the businesses and see what assistance the BARMM can provide for them. On June 2, a team led by Pasigan visited the Matling Industrial and Commercial Corporation (MICC), a cass ava plant ation and cassava starch producer, and the Hong Kong Feng Sheng Heritage Philippines Inc., an abaca fiber processor, both located in the province of Lanao del Sur. The following day, June 3,

the team visited Mactan Rock TGV Corporation — a water filtration plant, and the JMI Sand, Gravel, and Trucking Ser vices Corporation in Maguindanao province. Luzallile Mancilla, MICC chief production officer, said their sales were badly affected by the implementation of community quarantine, adding that e ven their company's supply of raw materials was dwindling not just because of the Covid-19 restrictions but also due to the poor weather condition. "Due to extreme drought, our company-owned hydropower plant was shut off, which made us instead use expensive diesel," she said. Pasigan said a similar onsite survey will also be conducted by the RBOI on registered business firms in the island provinces of Basilan, Sulu, and Tawi-Tawi. “The results of the surveys will be consolidated and relayed to BARMM chief minister Ahod Ebrahim for appropriate actions,” Pasigan said. He said the site monitoring survey was also conducted in compliance with Executive Order No. 226 otherwise known as the Omnibus Investment Code of 1987. Post-lockdown recovery plan For registered f irms in the region to cope up, RBOI proposed a recovery plan dubbed "Promotion of Investment Sustainability Organization in BARMM" or the PISO-BARMM, which aims to address the economic realities and consequences brought by the Covid-19 pandemic. RB OI-BARMM chair Ishak Mastura described the PISO-BARMM concept as simple, noting that BARMM is home to several agricultural processors who produce semi-processed or finished products at industrial scale. “The PISO-BARMM will try to match farmers and farmer cooperatives with the identified agricultural processors, which are registered investors in the BARMM so that sources of raw materials production can be ramped up on a more industrial scale than that is currently practiced,” Mastura said. He pointed out that key agricultural processors in the BARMM are beneficiaries of fiscal incentives from the RBOI. He said the RBOI also plans to give fiscal incentives to registered investors who will expand their production under the PISO-BARMM program. (PNA)


from page 1 also asked the Parish Pastoral Coordinating Councils to meet and schedule more masses on Sundays and weekdays depending on the availability of the parish priests and their assistant parish priests, if any. It said mass-goers should be two meters apart from each other to maintain physical distancing. The churches will have to put signs on seats

where the faithful may sit. Only a maximum of five choir members can attend, the instrumentalist and four singers, to lessen the number of congregants. However, choir members can alternate to give everybody a chance to hear mass. The directive told priests to start the masses on time and prepare a written homily which should not exceed 10 minutes on Sundays and seven minutes on ordinary days. It also reduced the number of lectors and lay ministers who will assist the priest. Children who serve as sacristans should have written parental consent, it added. Priests and lay ministers are required to wear facemasks during the communion. Communion by the tongue is prohibited. Holding of each other’s hands during the singing of Our Father (The Lord’s Prayer) is also prohibited along with handshakes during the sharing of peace. Churches were told to provide rubbing alcohol and hand sanitizers for massgoers and use thermometer guns where available. After each mass, the directive said churches should be sanitized. The gap between masses should be at least one hour to allow for thorough disinfection.

COVID-19 were partially offset by 4% growth in the Philippines bottling operation,” the company said in the regulatory filing. “[T]he outbreak and preventive measures taken t o c o nt a i n C OV I D - 1 9 negatively impacted our unit case volume and our price, product and geographic mix in all of our operating segments, primarily due to unfavorable channel and product mix as consumer demand has shifted to more at-home consumption versus away from home,” it added. The Philippines is CocaCola’s fourth-largest market in terms of unit case volume in Asia-Pacific in 2019, making up 8% of total volume for the region. The three markets above it are China (38%), India (15%) and Japan (13%). Despite the challenges brought by the COVID-19 pandemic, Mr. Everhart said Coca-Cola Philippines is positive it will start seeing an improvement in the coming months. “In our 108 years here in the Philippines, we have always emerged stronger through every crisis and we are optimistic that by supporting our employees, customers, partners and communities, our business will thrive in this next normal,” he said.

Digital... from page 5

strength as more drinking occasions emerge at the comforts of their home,” Mr. Everhart added. On May 27, Mr. Everhart said Coca-Cola Philippines was being challenged by the lockdown as its beverages u s e d t o b e c om m on l y consumed in restaurants and sporting events. These venues have shut or limited operations since March to observe quarantine protocols. “The pandemic’s impact to our business was felt more in the latter part of quarter 1 and this quarter 2 as a result of the lockdowns. However, we are seeing an improvement especially as the lockdowns are lifted and away from home channels like restaurants are also re-opening,” Mr. Everhart said in his e-mail Wednesday. In a regulatory filing by The Coca-Cola Co., the Atlanta-based parent company of C o ca-C ola Philippines, it said unit case volume in the Philippines recorded a 4% growth in the first quarter. Unit case volume is its measure of beverage products directly and i nd i re c t ly s ol d to consumers. The performance in the Philippines is against the drop in unit case volume observed in nearly all countries where Bottling Investments Group (BIG) operates. BIG is the subsidiary of The Coca-Cola Co. that handles bottling operations in most Southeast Asian countries, including the Philippines. “Unit case volume for Bottling Investments declined 5%. Declines in nearly all of our consolidated bottling operations as a result of

E X T R A J U D I C I A L SETTLEMENT OF ESTATE AMONG HEIRS WITH DEED OF ABSOLUTE SALE KNOW ALL MEN BY THESE PRESENTS: That the late AQUILINA D. PABILONA, died on January 4, 2014, ELSA D. PABILONA died on May 27, 2018, PURITA D. PABILONA died on July 29, 2018 and CLARITA D. PABILONA died on May 25, 2017, all single and without issue; while LILIA PABILONA RARAN died on February 4, 2011 and CIPRIANO D. PABILONA died on March 11, 1971, both in Cagayan de Oro City, respectively, without any last will or testament, all deceased left a parcel of land ORIGINAL CERTIFICATE OF TITLE NO. CARP2015000014 situated at Barrio of Carmen, City of Cagayan de Oro, Prov. Of Misamis Oriental, Island of Mindanao, containing an area of FIFTY TWO THOUSAND ONE HUNDRED EIGHTY SIX (52, 186) Square Meters, more or less, and has been the subject of an EXTRAJUDICIAL SETTLEMENT OF ESTATE AMONG HEIRS WITH DEED OF ABSOLUTE SALE, filed by the heirs of AQUILINA D. PABILONA, ELSA D. PABILONA, PURITA D. PABILONA, CLARITA D. PABILONA, LILIA PABILONA RARAN, CIPRIANO D. PABILONA, in favor of VEPCO GROUP DISTRIBUTION CORP, represented herein by its Chief Operating Officer, JOHN LESTER T. TAN, per DOC #329; PAGE #66; BOOK #47; series of 2019 under the Notarial Registry of ATTY. NOEL B. VEDAD. BWM: June 8, 15 & 22, 2020



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Davao boosts daily COVID-19 testing capacity By 1,000 through Ayala equipment donation D

AVAO City is set to increase its daily testing capacity for COVID-19 with the help of medical equipment being donated to the Southern Philippines Medical Center (SPMC) and other institutions. The donation of automated RNA

Extraction machine and 2 RT-PCR machines and their accessories to SPMC Davao will help boost their Covid19 testing capacity by a maximum of 1,000 tests per day. The donation is an expression of the Ayala group’s continuing commitment to helping contain the

COVID-19 pandemic, as it participates in Task Force T3 (Test, Trace, and Treat) convened by the Inter-Agency Task Force–National Task Force (IATF-NTF) and the Department of Health (DOH). The SPMC donation is one of other similar initiatives that seek to capacitate existing testing facilities and build testing laboratories in different parts of the country. Ayala, through Ayala

Land and AC Health, are constructing testing labs in Bulacan, Batangas, Laguna, and Iloilo. Together, the Ayala group’s various contributions to Project T3 will boost the country’s daily testing capacity by 5,500. At present, the country conducts about 34,000 tests dai-ly. “We welcome the testing laboratories from Ayala, as these will be a big help to our efforts to stamp

out COVID-19 in the country, and improve the country’s health situation in general,” said Gen. Carlito Galvez Jr., chief implementer of the IATF Na-tional Action Plan Against COVID-19. “We recognize that the private sector plays an important role in our shared fight against COVID-19, and Ayala’s donation of testing equipment and laboratories are a welcome contribution,” said Vince Dizon, deputy chief implementer of the IATF National Action Plan Against COVID-19. Since the start of the pandemic, the Ayala group has mobilized resources in support of national efforts through the provision of equipment and protective gear for medical and community front-liners, as well as food and other basic necessities for families in different communities nationwide. Together with partners from the business community, PDRF and Caritas Manila, Ayala took an active part in Project Ugnayan, which provided grocery vouchers for nearly 7

million individuals or 1.5 million families in Greater Manila Area’s poor communities. Ayala also helped convert the World Trade Center into the 500bed We Heal As One Center for COVID-19 patients. The group also helped build the testing facilities of Phil-ippine Red Cross. Through Ayala Foundation, the Ayala group’s 50,000-plus employees initiated Project Pananagutan, which supports “no work, no pay” employees of partner companies, front-line health workers in need of protective personal equipment, and families in need of food and other basic needs. The Ayala group has also been working closely with the SPMC in the past few years. In 2018, Ayala donated laser eye equipment for the treatment of cancer patients at the SPMC Cancer Institute. Last December, the Ayala group officially turned over the newly refurbished House of Hope Halfway House, where pediatric patients of the SPMC Cancer Institute can stay with their families or caregivers, while they are undergoing treatment.

Profile for Mindanao Daily News

BusinessWeek Mindanao (June 8, 2020)  

BusinessWeek Mindanao (June 8, 2020)

BusinessWeek Mindanao (June 8, 2020)  

BusinessWeek Mindanao (June 8, 2020)


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