Issuu

BusinessWeek MINDANAO CREDIBLE

Volume VIII, No. 1

Market Indicators As of 5:00 pm June 8, 2017 (thursday)

FOREX

PHISIX

US$1 = P49.52

7,958.63

5.8 cents

43.69

points

Briefly Qatar moratorium THE Philippines is imposing a temporary moratorium on deployment of workers to Qatar amid the Middle East situation. “The Philippine government continues to process documents for employment in Qatar. However, new hires still in the Philippines will be covered by a temporary moratorium on deployment while the situation is being assessed,” the Department of Foreign Affairs (DFA) said in a statement. It clarified that persons working in or who have urgent business in Qatar are “free to return but should observe usual precautions.” “The government renews its call for our Kababayans in the region to exercise prudence given the events of the past days,” the DFA said.

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M’danao traders urged to hike stocks of goods www.businessweekmindanao.com

Friday | June 9, 2017

By KRIS M. CRISMUNDO, PNA

H E D e p ar tm ent of Tr a d e an d Industry (DTI) is closely in talks with manufacturers and distributors of basic goods to increase their inventory of goods in Mindanao. In a press br i ef i ng , Consumer Protection and Advocacy Bureau (CPAB) Officer-in-Charge Lilian Salonga said the DTI had installed an alert system on supply of goods in Mindanao in order to ensure that supply of basic commodities would be adequate. Salonga said the alert system on supply of goods was in collaboration with various manufacturers. These include manufacturers of instant noodles, canned goods, bread, and milk as well as meat processors.

She cited the commitment of distributors and suppliers to load more than the usual two-week stock of goods. “They ensure that between three to four weeks [worth of inventory], so that there’s enough buffer supply and inventories,” she said. DTI Undersecretary for Consumer Protection Group Teodoro Pascua noted that big manufacturers had one month to one and half months worth of inventories in Cagayan de Oro, which is the gateway of goods going to Iligan City, Marawi City and other parts traders/PAGE 11

Thriving agri-fishery AGRICULTURE Secretary Emmanuel F. Piñol said he expects farm and fisheries activities in Mindanao to thrive under martial law. In a Facebook post on Thursday, the Secretary said strict enforcement of the law and restrictions on the movement of armed groups will boost agricultural productivity in Mindanao. “I told President Duterte that martial law is viewed positively by Mindanao residents, especially farmers and fishermen,” said Mr. Piñol. “[I] was briefed by agriculture and fisheries sector stakeholders that they feel safer and more secure now with the imposition of martial law in the southern islands,” he added.

IN-DEPTH

MARTIAL LAW’S IMPACT. Vegetable vendors along Marahan in Davao City complain of poor sales since martial law was declared May 23. Grace Paguyan (right) said on normal days they earn P1,000 to P1,500 but are lucky these days to earn P500 as bulk buyers have not been coming to this mountain district near Bukidnon. mindanews photo by carolyn o. arguillas

Euro Chamber keen in putting up Oro office despite Marawi crisis By MARK FRANCISCO, Staff Writer

THE European Chamber of Commerce of the Philippines (ECCP) will proceed with

its original plan to install an office in Cagayan de Oro City in the third quarter of

this year. If the plan pushes through, this will be the second office of ECCP in Mindanao, to be crisis/PAGE 11

Grander Naliyagan fest seen this year

INFANT ‘BAKWIT’. An infant screams in pain as a doctor from the Department of Health administers medicine Thursday (8 June 2017) at an evacuation center in Barangay Sta. Elena in Iligan City. Thousands of residents have left their homes in neighboring Marawi City after the Maute Group occupied parts of the city center Since May 23. mindanews photo by bobby timonera

By CHRIS V. PANGANIBAN, Contributing Editor

PROSPERIDAD, Agusan del Sur -- Organizers of this year’s Naliyagan Festival are

offering a grander celebration with lots of fanfare in the longer eight-day events

especially that the province is commemorating its 50th founding anniversary and 25th year of lumad-inspired naliyagan/PAGE 11

CDO developer’s exec featured in The CEO Magazine Asia

Architect Romolo Valentino, Chairman and Chief Executive Officer of listed green builder Italpinas Development Corporation (IDC).

“I THINK that we should be able to develop buildings that can improve the quality of life rather than deteriorate it,” says Architect Romolo Valentino Nati, Italpinas Development Corporation’s (IDC) chairman and chief executive officer, in the article of The CEO Magazine Asia in its June 2017 edition. A r c h i t e c t Nat i w a s i nt e r v i e w e d ab out h i s

inspirations of his projects and experiences before becoming one of the world’s finest sustainable architects. Nati said that being featured in the prestigious CEO Magazine means that his company has been gaining recognitions in the field of architectural design and real estate. “In this way, my story can also help to influence young entrepreneurs and

green architects to achieve more, “ he added. With less than a decade of experience in the industry, Nati’s company continues to shine in the national and global arena. Among the recognitions of IDC has received are the International Property Awards- winning the Best Mixed use Development in the Philippines category for Primavera Residences and

Primavera City projects in 2014 and 2017, respectively. Due to its commitment to green design, IDC’s first breakthrough development, Primavera Residences has been given the distinction as the First C ompleted Project in South East Asia to be awarded with EDGE (Excellence in Design for Greater Efficiencies), a global featured/PAGE 11

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Donations for Marawi crisis IDPs pour in ILIGAN City -- While the number of evacuees continues to rise due to the on-going law enforcement operations in Marawi City, donations from various individuals and organizations are pouring in to help ease the plight of those displaced by the hostilities. These relief efforts have been facilitated by young men and women in Cotabato City manning the regional offices of the Autonomous Region in Muslim Mindanao (ARMM). Amino Sahabuddin, 20, has initiated a donation drive with his classmates and urged his professors to do the same. He added that people in Marawi and Lanao del Sur need humanitarian help noting even small donations

will make a difference. “We cannot help them all, but at least we could help some. Kahit ‘yung isang araw na maitawid mo ang gutom ng (isang evacuee) ay malaking bagay na,” Sahabuddin said. He collects small amounts of money and gathers food packs and used clothing. These donations are delivered to the operation center of the ARMM’s Humanitarian Emergenc y and Ac tion Response Team (ARMMHEART) here. Myrna Jo Henry, ARMMHEART information officer, said most of the donations come from private individuals, small organizations and government offices from all over Mindanao and the donations/PAGE 10

Economy

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DTI: No price hike in goods after martial law declaration

LIGAN City — The Department of Trade and Industr y (DTI) has assured the public that there would be no price increase in basic commodities in markets after President Rodrigo

Roa Duterte proclaimed M a r t i a l L aw ( M L ) i n Mindanao following the clashes between government forces and Maute terror group in Marawi City last May 23. In yesterday’s, June 5,

press briefing held at the Regional Command and Coordination Center in Iligan City, Trade Secretary Ramon Lopez said that results of market price monitoring conducted by DTI showed that stores, especially in

Iligan City and Lanao del Norte, complied with the government’s price freeze order. DTI market monitoring report as of June 5, 2017 showed that NFA rice remains hike/PAGE 11

DAVAO City – A total of 50 members of the Matigsalug tribe in Marilog here will graduate on Thursday, June 8, from a series of skills training program sponsored by Therma South, Inc. (TSI), a wholly-owned subsidiary of Aboitiz Power Corporation (AboitizPower). Harvey Lanticse, Branding

and Communications Officer of AboitizPower in Mindanao, s aid t he series of skills training is part of the comprehensive livelihood project dubbed as “Indigenous Crafts Project for CSMP Beneficiaries” of the company. The livelihood project i s b e i n g i mp l e m e nt e d

in partnership with the Department of Trade and Industry in Davao Region (DTI-XI) and the Davao Designers Pool. The program aims t o c ap a c it at e a g roup of Mat igs a lug t raine es in Marilog District and organize them into a viable community-based enterprise.

It also involves identification and production of viable indigenous products that can be produced locally using available indigenous materials and applying colorful ethnic designs with the help of famous local craft designers and established exporters, Lanticse added. (Alexander Lopez/PNA)

50 Matigsalug IPs in Davao complete skills training

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Mutya ng Pilipinas Northern Mindanao 2017 candidate April Barro poses during their Mags-sponsored fashion show last June 2 at SM CDO Downtown Premier in Cagayan de Oro City. photo by mark francisco

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Opinion

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Go for Freedom!

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Making Up For the Past Think a minute…Some time ago I read in the newspaper about a father who had killed his 10-year-old son because his school report was not good enough. The father was so angry that he reached for the nearest thing, a steel rod, and hit his son on the back. His 10-year-old little boy was killed instantly. Can you imagine the pain and regret that father lives with! We all have regrets, and the feeling that we want to make up for the wrong we’ve done. Yet we know that in most situations we can’t. Sometimes we can repair the damage. We can pay a debt that’s long overdue. We can return the money we cheated or stole from somebody. But most times it’s simply impossible to make up for what we’ve done wrong. Like beating and cursing your child in a moment of anger. No candy or toy can make up for how we hurt even destroyed their trust in us. Think of the man addicted to alcohol, drugs, or kava, or has adulterous affairs, putting his wife and children through years of pain, lies, and violence. Yet even if he finally does stop drinking or having affairs,

THINK

A Minute

“…because through Christ Jesus the law of the Spirit who gives life has set you free from the law of sin and death. For what the law was powerless to do because it was weakened by the flesh, God did by sending his own Son in the likeness of sinful flesh to be a sin offering. And so he condemned sin in the flesh,” 1 Romans 8:2-3 We have lived far too long in our human flesh that it is easy to go back in the old ways. What are the old ways? These are our tendencies to perfect ourselves through works to attain self-righteousness. Now, this is true to many if not all of us. Especially when we feel that a prayer request we have, has not yet been answered. Example, we asked

for a car and it’s been a year since we have been praying for it. We think that by doing good works, we prompt GOD to give the car faster. This is only one example of bondages that we need to be freed from. But there is no need to condemn ourselves. We only need to renew our minds. By now, as Christians, we should be fully aware that the renewing of the mind happens every day. That is the beauty of being a Christian, because as we keep renewing our mind, we discover GOD at His Word and JESUS at His sacrifice even more deeply. So what kind of renewal do we need to remind us that we are no longer slaves to our fleshly tendencies? Paul’s second letter to the Corinthians and to the

Romans teach us extensively about this and the idea repeats itself to keep reminding us. The letter (law) kills, but the Spirit gives life (2 Cor 3:6). We have been released from the law so that we serve in the new way of the Spirit, and not in the old way of the written code (Rom 7:6). This tells us that we will be free from the law and its consequences, if we understand AND BELIEVE in the good news that JESUS has done all the works by His sacrifice. A word of advice, and let us not misconstrue this; let us not turn this freedom into an opportunity of the flesh. Because JESUS will have died in vain and we will go back to the cycle of falling from grace and getting back up in a confused bondage to our

The Ripple

By AMBongay

flesh. If we truly want to be freed, we only need to remind ourselves of who we are in JESUS. In JESUS, we are no longer slaves. We have been freed. This is an excerpt from a preaching by Ptr. Gerald Pangan.

It has become acceptable to be wicked in RP LIFE’S INSPIRATIONS: “… But mark this: There will be terrible times in the last days. People will be lovers of themselves, lovers of money, boastful, proud, abusive, disobedient to their parents, ungrateful, unholy, without love, unforgiving, slanderous, without selfcontrol, brutal, not lovers of the good, treacherous, rash, conceited, lovers of pleasure rather than lovers of God…” (2 Timothy 3:1-4, the Holy Bible). -ooo RESORT WORLD AT TAC K S H O C K E R S : So, what else will we be shocked with in relation to the June 02, 2017 attack on the Resorts World Complex in Pasay City, aside from the mayhem having been carried out by a man whose severe addiction to gambling led him to squander millions while his family starved and lived in abject poverty, and aside from the security officer of the hotel complex faking his academic record just to land his job?

Many hope no other unpleasant surprises from this sordid incident will still surface and scandalize us even more in the days to come. Indeed, it should already be enough that 38 or so people died a senseless death here, or that a hotel complex as opulent or as wealthy as Resorts World did not have a security plan against crimes of this nature being committed in its premises. But, come to think of it, what else, really, is new in this hapless country of ours? Is it not a fact of Filipino life that there are many aspects in Philippine society that are similarly fraudulent or unreal, and yet we’ve all decided to collectively turn a blind to all of them? -ooo F R AU D I N M A N Y ASPECTS OF A FILIPINO’S LIFE: For example, aren’t we aware that many diplomas or certificates attesting to the supposed completion of collegiate degrees by our students were not actually

awarded to them after years of study but were merely produced by small shops in Claro M. Recto St., in Manila, for a fee? Are we not also aware that many government officials and employees actually do not have genuine eligibilities and have submitted similarly fraudulent certificates claiming they have successfully hurdled government examinations even if they had not done so? D on’t w e a l s o h av e hundreds and hundreds of teachers, policemen, f iremen, and others in government, or even in the private sector, whose licenses are also fake and spurious and were the mere handiwork of people who make out a living faking out official documents? And, even in the government program of giving dole-outs to the poor, did not many of the recipients submit falsified proofs of their entitlement? -ooo-

K akampi

Mo A ng Batas

Atty. Batas Mauricio IT HAS BEC OME AC C E P TA B L E T O B E WICKED IN RP: Indeed, we know all these to be true. Yet, not only do we keep silent about them. We in fact even encourage these frauds ourselves in one way or another, either because we practice them too in many instances, or because we participate in their commission by other people, mostly by our own relatives. Shamelessly, there is no more remorse in committing many falsehoods in our Batas/PAGE 10

The goal of education Jhan Tiafau Hurst how can he ever erase or make up for all the hurt and damage he caused? How does the mother who had an abortion forgive herself and get free from her guilt? So we can’t always repair the damage we’ve caused, no matter how much we try, not even through religion! That’s why Jesus Christ, Who was not guilty of any wrong, gave His own innocent life to free you and me from all our wrongs and guilt. The only way we can make up for all the wrong we’ve done is by asking Jesus for His free gift of forgiveness and new life which He paid for with His own life. It’s true that you cannot change your past, but Jesus can start changing your life now. If you ask Him to hurst/PAGE 10

This is none other than for us to be another Christ. After all, he is the ver y pattern of our humanity in the beginning and the redeemer of our damaged humanity. If education is for us to achieve the fullness of our humanity, we should not look at anything, no matter how lofty and useful, other than at Christ. St. Paul, in his Letter to the Ephesians, describes it this way: “His (Christ’s) gifts were that some should be apostles, some prophets, some evangelists, some pastors and teachers, to equip the saints for the work of ministry, for building up the body of Christ, until we all attain to the unity of the faith and of the knowledge of God, to mature manhood, to the measure of the stature of the fullness of Christ...” (4,11-13) Yes, education is not

simply about acquiring some worldly knowledge and skills. It’s about achieving this “mature manhood” St. Paul was talking about, a mature manhood that is “to the measure of the stature of the fullness of Christ.” Obviously, knowledge and skills are important and are, in fact, indispensable. But they have to be oriented toward the ultimate goal of education which is the pursuit for the fullness of Christ in us. We have to be wary of the strong, almost irresistible temptation to downgrade the purpose of education to simply achieving some worldly values like wealth, honor, popularity, efficiency, etc. These worldly goals, if not related to the ultimate goal, can very well be sweet poisons that can corrupt the process of education. Some sectors may claim

that putting Christ as the main goal of education undermines the technical rigor that should accompany the task of learning the sciences and the arts. They claim that that approach would be too other-worldly as to restrain us to go to the last consequences of our studies. We s h o u l d n o t b e deceived by such claims, because the opposite is, in fact, the case. When we put Christ on top of e ve r y t h i ng els e i n ou r education, we would be most motivated and pressured to be thoroughly exacting in our studies. Christ himself would require nothing less than that. Thus, the ultimate goal of education is when we learn to deal in an abiding way with the Holy Spirit, who is the spirit of God, who will remind us of everything

HINTS

and

Traces

Fr. Roy Cimagala Christ taught us, who will lead us to the complete truth and would tell us of things to come. At t h i s t i m e of t h e world’s life, we should do much better than the early Christians who, when asked by St. Paul whether they have received the Holy Spirit, answered that “we have not even heard that there is a Holy Spirit.” (Acts 19,2) cimagala/PAGE 10

CorporateWorld 5 DMCI eyes P15B cement PayMaya teams up with plant in Semirara Palawan Pawnshop Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

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CORON, Palawan -- DMCI Holdings, Inc. has plans to invest USD 300 million or around P14.8 billion for a cement plant in Semirara Is l a n d , t h e c o mp a ny ’s Chairman and President Isidro Consuji said in a briefing here. Consuji said the cement factory will have an annual capacity of about 2.4 million tons. DMCI is lo ok ing at Semirara for its cement plant as it has one billion tons of limestone reserve, which is one of the raw materials for cement, the top executive mentioned. DMCI’s unit, Semirara Mining and Power Corp., is also located in the island.

Consuji added that a 40-megawatt power plant will be part of the cement facility since energy cost has the largest share in expenses for cement plant operation. DMCI Executive Vice President and Chief Finance Officer Herbert Consuji said the low-grade coal from the power plant will also be used as raw material for cementmaking. The EVP and CFO noted that the structure of DMCI’s planned cement facility in Semirara will make its cement competitive in the market. “We are competitive, in fact, including even [against] imported [cement]. [Against] imported, we can compete cement/PAGE 10

A Y M A Y A Ph i l ippi n e s , In c . has partnered with Palawan Pawnshop, a l l o w i ng u s e r s of t h e payment platform to conduct transactions at their l o c a l remittance center. PayMaya is a digital platform that allows businesses to receive payments from all cards anytime. In a statement, PayMaya

said the new partnership will allow its users to send and receive Smart Padala remittances and reload PayMaya accounts through Palawan Paw shop. Initially, the service will be available in Palawan Paw ns h op br an che s i n Luzon, but will soon be expanded nationwide. “We strive to make the impact of financial inclusion felt by more Filipinos -particularly for families

who rely on remittances and tech-savvy consumers who depend on digital for their day-to-day needs. Together with Palawan Pawnshop, we are thrilled to bring digital financial s e r v i c e s av a i l a b l e a n d accessible to more customers wherever they are in the country,” Voyager Innovations, Inc. and PayMaya Philippines President and CEO Orlando B. Vea was quoted as saying.

Basic Energy sets due diligence on offshore investment plans DE Venecia-led Basic Energy Corporation is scheduling ‘due diligence process’ to an investment tie-up with Hongkong firm Solmax Power Limited for potential solar venture in Japan. Basic Energ y S enior Vice President Anthony L. Cuaycong said they will be undertaking “due diligence for Solmax and its solar projects in Japan.” The basic requirement to this, however, would be for Basic Energy to post ‘refundable earnest deposit’,

according to the company executive. The f ir m’s b o ard of d i re c t or s approve d on Wednesday (May 31) the placement of ‘refundable deposit” for the targeted Solmax venture. Cuaycong has not divulged the amount and the extent of equity or business interest they have been looking at with Solmax, but he expounded that after taking a look at the Hong Kong firm and its projects, “if we are satisfied, offshore/PAGE 10

MEDIA PARTNERS

President Rodrigo Duterte says “I will not hesitate the armed might of the Republic of the Philippines, the Armed Forces, to use every power available in their hand to quell the rebellion and terrorism.” (PIA10)

Palawan Pawnshop President and CEO Bobby L. Castro said the partnership will “deliver the remittance requirements of the future.” “Palawan Pawnshop will also accept bills payment in the near future, and carry prepaid products such as e-load and data, Meralco, Cignal, and Game Pins, making Palawan a one-stopshop for key digital financial services,” PayMaya said in its statement. PayMaya’s parent Voyager Innovations is also providing the technology that allows a l l Pa l aw a n Paw n s h o p branches and agents to send real-time SMS notifications to senders and recipients about the status of their remittances. Pa l a w a n Pa w n s h o p, has over 2,000 branches located in 17 cities in Metro Manila, and is present in 27 provinces nationwide, according to its Web site. Formerly Smart e-Money, Inc., PayMaya is undertaking efforts to broaden the base for both its suppliers and users, as it targets “doubledigit” growth in users this year. The comp any ende d 2016 with a million users paymaya/PAGE 10

Banking&Finance

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BPI system restored

YA L A- l e d B a n k of the Philippine Islands (BPI) said it has corrected the technical glitch on its system, which resulted to mispostings of its account holders’ transactions from April 27 to May 2, 2017.

In a st atement, t he bank said that as of 10 p.m. Wednesday, it has “rectified the mis-postings related to the internal systems problem.” “A c c e s s t o A T M s (automated teller machines) has also been restored,” it said.

BSP to investigate BPI clients losing money in accounts THE Bangko Sentral ng Pilipinas (BSP) will conduct an investigation to determine how a number of Bank of the Philippine Islands (BPI) cardholders lost money in their accounts overnight. “We’ll investigate. For now, BPI assures us this is not a hack and problem will be fixed today and no one will lose money,” BSP Deputy Governor Nestor Espenilla Jr. said in a text message

Wednesday morning. The BSP official said BPI has “already issued a st atement explaining situation and promising to fix today. We’ll investigate as soon as dust settles and customers are made whole.” The BPI website is currently not accessible. The bank will hold a press briefing in Makati City at around 11a.m. Wednesday to explain the situation. (JSV/PNA)

“Please accept our gratitude for your patience, and our apologies for any inconvenience you may have experienced,” it added. The system glitch resulted to chaos among BPI clients, who reported as much as negative balances while

others saw balances doubling or rising more than what they actually have. BPI decided to temporarily ha lt t he op erat ions of its elec tronic channels Wednesday morning after receiving reports about the glitch and for the bank to

address the issue. BPI Senior Vice President Catherine P. Santamaria, in an earlier briefing, stressed that the problem was caused by internal error and not hacking as claimed by some. She said the problem affected “only some” of their

friday|june 9, 2017

eight million clients, and mostly in Metro Manila. She said the glitch only affected the processes and not the actual funds. “We’re so confident that it will (be) solved (within the day) because we know the root cause,” she said. (PNA)

Bangko Sentral wraps up talks with Indonesia on ASEAN banking integration deal THE BANGKO S entral ng Pilipinas (BSP) has completed discussions with its Indonesian counterpart and is set to sign a third bilateral deal under the ASEAN Banking Integration Framework (ABIF) this weekend, the central bank governor said. BSP Governor Amando

M. Tetangco, Jr. said the central bank will be signing a letter of intent with Otoritas Jasa Keuangan (OJK) of Indonesia. “The BSP welcomes the signing of a Letter of Intent with OJK of Indonesia. This will be done in Jakarta this weekend,” BSP Governor Amando M. Tetangco, Jr. told

reporters in a text message on Friday. “The LOI is in line with the ASEAN Banking Integration initiative. It reflects the mutual interest of the BSP and OJK to begin discussions intended to culminate in a formal bilateral agreement on the entry of Qualified ASEAN Banks (QABs) between the

Philippines and Indonesia,” he added. T he A BI F w as f i rst endorsed in December 2014 and sought to allow duly identified QABs to operate f re ely a c ro ss me mb e reconomies in the region. The Philippines also signed ABIF agreements deal/PAGE 9

Tax reform packages seen to raise P151.9B THE Department of Finance (DOF) is estimating that revenue potential of the remaining four tax reform packages would yield more than one tenth compared with the first measure recently approved by the House of Representatives. Based on the latest DOF data, the government is expected to generate a total of P151.9 billion in additional revenues from the second, third, fourth and fifth tax reforms being initiated by the Duterte administration. The DOF earlier estimated that the House-approved tax reform package one will raise P133.8 billion in fresh revenues for the government during its first year of implementation. According to the DOF program, the second package consisting of lower corporate income taxes (CIT) and the rationalization of fiscal

incentives will be submitted to Congress by October this year. Meanwhile, debt-watcher Fitch Ratings said yesterday in a statement that the first tax reform package passed last week by the House lawmakers should widen the tax base and boost revenues. Fitch also said the proposed law demonstrated the Duterte administration’s commitment to broader tax reforms that have the potential to improve fiscal stability and support an ambitious public investment program. Howe ver, t he rat ing agency noted that some of the revenue-enhancing measures contained in the first bill were watered down to secure legislative passage, as was widely expected, and it still faces hurdles in passing the Senate, which could result tax/PAGE 10

BWM: June 29, 2017

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Cebu Pacific defers A321NEO aircraft deliveries; orders 7 A321CEO planes

eading Philippine carrier Cebu Pacific (PSE: CEB) has placed an order with Airbus for an additional seven A321CEO (Current Engine Option) aircraft, for delivery from March 2018. The aircraft will meet the airline’s increased c ap acity re quirements pending the start of delivery of 32 A321NEO aircraft, which will now begin in 4TH quarter of 2018. CEB has chosen to defer the A321NEO deliveries due to delays with the Pratt & Whitney engines selected to power the aircraft. “We have decided to take a conservative approach to t he int ro duc t ion of the A321NEO into our op erations. We remain

conf ident that Pratt & Whitney will address all issues on the GTF (Geared Turbo Fan) engine. There is, however, the need to increase our current capacity to meet growing domestic and regional network demand, thus the A321CEO order,” said CEB Chief Finance Officer, Andrew Huang. The seven Airbus A321CEO planes have a total value of US$812 million, based on current list prices and will be on top of the existing order of the 32 Airbus A321NEO aircraft. The latter had originally been scheduled for delivery beginning September 2017 until 2021, but these have b e e n pu s h e d b a c k for delivery in the 4th quarter

of 2018 until 2022. “We are ver y excited about adding the A321 to our fleet,” said Lance Gokongwei, President and CEO of Cebu Pacific, “The aircraft will enable us to increase capacity on popular routes, while at the same time benefiting from the lowest operating costs in this size category. This will mean more low fares for more customers flying across our domestic and regional network.” Jo h n L e a hy, A i r bu s Chief Operating Officer - Customers, added, “We are pleased to sign this additional order with one of the most successful airlines in the Asian region. With the A321, Cebu Pacific will be able to respond to growing

demand with the highest levels of efficiency. Carrying more passengers further, and at lower cost, the A321 is the perfect solution to meet the requirements of airlines worldwide in the middle of the market segment.” CEB recently took delivery of two brand-new aircraft: an Airbus A330; and an ATR 72-600, to bring its current fleet to 61. The CEB fleet is comprised of four Airbus A319, 36 Airbus A320, eight Airbus A330, eight ATR 72-500, and five ATR 72-600 aircraft. CEB flies to 37 domestic and 26 international destinations, operating over 100 routes s p a n n i n g a c ro s s As i a , Australia, the Middle East, and USA.

Scaled-Down E-Trike Project to Push Through: DOE The Department of Energy (DOE) will push through with the long-delayed E-Trike Project although on a much smaller scale from the original 100,000 units to just 3,000 and from the original project cost of P21.672 billion to P1.73 billion. According to Assistant Secretary Leonido Pulido III, despite the many challenges faced by the project from previous Administrations, now nearing the end of its

five-year loan term period, the D OE will move to showcase the potential use of clean and diversified energy technologies through the E-Trike. The DOE headed by Secretar y Alfonso Cusi moved to partially cancel the loan contract last year as the Department wanted to revisit all the options available in view of significant flaws in the project’s design, including the choice of just one model

and pricing concerns. Since the approval of the E-Trike Project by the National Economic Development Authority (NEDA) in June 2013, recorded investments in e - t r i k e m a nu f a c t u r i n g and support reached P500 million and generated 14,840 jobs as of the end of 2016, according to the Board of Investments and Electric Vehicle Association of the Philippines.

This month, NEDAInvestment Coordination Committee took note of the DOE proposal last March on t he re v is e d proj e c t implementation, including the additional deployment options and arrangements. As there would be substantial changes in the project, the DOE is securing amendments to the loan, Projec t Administration Manual and related e-trike/PAGE 9

7 ONE WITH MARAWI: SM SUPERMALLS IN MINDANAO UNITE IN RELIEF OPERATIONS

In an effort to help people who are affected in the Marawi crisis, SM Foundation Inc (SMFI) is activating Operation Tulong Express (OPTE) booths in Mindanao malls in partnership with local partners. The donation drive is a way to encourage mall shoppers and tenants to share their blessings by sending relief assistance to affected communities who were recently displaced. The donation booth in SM City General Santos is located at the Ground Floor, Mall Atrium fronting the Supermarket. In SM City Davao, the booth is open in the ground floor of the main mall near Ideal Vision. SM Lanang

Premier’s booth is in the lower ground floor near the elevator. The OPTE booth in SM CDO Downtown Premier is located in the ground floor near the SM Supermarket; while SM City Cagayan de Oro’s is at the Entrance 3 (between the SM Store and SM Supermarket) Interested donors may visit any of the booths to give cash or relief goods in kind: halal food, bottled water, blankets, clothing, toiletries, diapers, and medicine or first aid kits. All mall collections will be turned over to local partners: Mindanao Development Authority and Philippine Red Cross.

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friday|june 9, 2017

Initial success of proposed tax reform program cited

N official of the Department of Finance (DOF) is hopeful for the continued success of the proposed tax reform measure, which was approved on third and final reading by the House of Representatives Wednesday night. Finance Undersecretary Karl Kendrick Chua, in a statement, remains optimistic

that Senators will do the same once session resumes in July. Lawmakers in the Lower House approved on 246-9 vote, with one abstention, the proposed Tax Reform a n d Ac c e l e r a t i o n a n d Inclusion Act (TRAIN), which consolidated House Bill 4774 with 54 similar measures. The current Congress will adjourn June 2 and sessions

Peso closes week with gains APPROVAL by the House of Representatives on third and final reading of the proposed tax reform measure backed the Philippine peso Friday. The peso finished the week at 49.55 to a greenback, way better than its 49.75 finish Thursday. A trader said investors took note of the success of the government’s proposed tax reform measure, which is targeted to fund the Duterte administration’s infrastructure, social protection, health, and education programs. Improvement of the local unit transpired despite the report about the creation of 253,000 new jobs in the US last May from month-ago’s 174,000. The trader said investors

remain optimistic on the local economy amid some peace and order-related news. In early Friday morning, a lone gunman set a gaming table at the second floor of the Resorts World Manila in Pasay City on fire and shoot a TV screen using a high-powered fire arm before burning himself at a fifth floor room. Aut hor it i e s i n it i a l ly discounted terror attack, saying that the suspect, who remains unidentified, did not hurt individuals but instead stole more than P100 million worth of casino chips. Amid reports about the incident, the peso opened the day sideways at 49.77 gains/PAGE 9

will resume on July 24. Chua said the Comprehensive Tax Reform Program (CTRP) was the main key to finance the government’s infrastructure, social protection, health, and education projects eyed to boost economic growth and enable the country to become an upper middle income economy at the end of the Duterte government in 2022. T h e c u r re nt

administration plans to spend about Php 718 billion for education, Php 139 billion for health, Php 267 billion for social welfare, and Php 1.1 trillion for urban and rural infrastructure during its term. Chua said these investments “require new revenues” but stressed that they needed cooperation between the government and the private sectors. He said “the executive

(branch) commits to improving tax collection efficiency and addressing smug g ling, w hi le f u l ly spending the budget as planned.” He said the government would also borrow from both the local and overseas cre d itors “ b e c aus e t he conditions are right and our infrastructure needs are vast.” The government plans to borrow bulk of the funds

from onshore creditors to take advantage of the low interest rate environment, economic officials have repeatedly said. “We also need tax policy and we ask Congress to pass a program of tax reforms that will once and for all correct the complexity, inefficiency, and inequity of our tax system that holds back economic growth, job creation and poverty reduction,” Chua added. (Joann Santiago/PNA)

Auto loans up 27% at end-March CAR LOANS secured from local banks posted a doubledigit surge at end-March to hit close to P400 billion, latest data from the Bangko Sentral ng Pilipinas (BSP) showed, which comes ahead of the government’s plans to raise excise taxes on motor vehicles. Philippine banks released P397.05 billion in automobile loans as of the first quarter, jumping by 26.8% from the P313.085 billion in credit approved during the same period in 2016, according to central bank data. More consumers are tapping bank lending to buy cars as they take advantage of a loans/PAGE 9

Automobile loans handed out by banks grew by 26.8% to P397.05 billion as of the first quarter.

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friday|june 9, 2017

Deal... from page 6

with the Bank of Thailand on April 7 in Mactan, Cebu and concluded talks with Bank Negara Malaysia the same month, which opens doors for a Malaysian QAB to enter the Philippines and vice-versa. The ASEAN is the sixthlargest economy in the world, with gross domestic product expected to hit $3.5 trillion by 2021, according to regional data. Total trade was $2.3 trillion in 2015, and the region attracted $121 billion in foreign direct investment. Adoption of the ABIF builds on Republic Act 10641 signed in 2014, which allowed the full entry of foreign banks in the Philippines. Prior to this law, only 10 foreign banks were allowed to operate in the country, with a new foreign banks only able to enter the market if one of the accredited overseas lenders pulls out.

Gains... from page 8

from the previous session’s 49.81. It even surged to 49.53, its strongest for the day. Its opening level was the local unit’s weakest for the day, bringing the average for the day to 49.63. Volume of trade reached $908 million, nearly thrice the $325.8 million a day ago. The currency pair is seen to trade between 49.50 and 49.90 next week. (Joann Santiago/PNA)

Loans... from page 8

low interest rate environment. Car loans made up 5.42% of the P661.363 billion of total consumer credit as of endMarch, higher than its 5% share a year ago, according to BSP data. Broken down, universal and commerci a l b an ks granted P215.64 billion in auto loans, while thrift lenders handed out P180.448 billion. On the other hand, loans approved for the purchase of motorcycles posted a 17.5% increase to reach P13.083 billion, rising from P11.135 billion recorded during the first three months of 2016. In sum, motor vehicle loans soared by 26.5% to hit

P410.133 billion, coming from P324.22 billion previously. The climb is also faster than the 24.3% surge tallied in March during the same yearago period. The increase in car loans come ahead of a proposal from the Department of Finance (DoF) to raise the excise taxes on cars, as part of the first package of its tax reform program currently under plenary debates at the House of Representatives. President Rodrigo R. Duterte has certified House Bill (HB) 5636 as urgent, which would allow the chamber to approve the measure speedily. With the certification, the House plenary may approve the measure on second and third reading on the same day, placing it on track to meet its May 31 target to conclude the discussions and pass it on to the Senate. Finance Undersecretary Karl Kendrick T. Chua has said that the government can shore up around P24 billion in fresh revenues under the agency’s original four-tier classification for higher car taxes by 2018, the first year of implementation. Under the DoF’s proposal previously discussed as HB 4774, the excise tax on automobiles will be raised to 4% from the present 2% if the net manufacturer’s price/ importer’s selling price is up to P600,000. Luxury cars valued P2.1 million or higher will be imposed a tax of P1.224 million plus 200% of the value in excess of P2.1 million. The current rate is 512,000 plus 60% of the value in excess of P2.1 million. Howe ver, leg isl ators decided to adopt five brackets under the new proposal, with a two-year grace period before the higher rates kick in. Mr. Chua has said this will reduce potential tax collections by P10 billion for next year. Mr. Chua told members of a Senate consultative meeting earlier this month that Filipinos have already been “advancing” their car purchases after the DoF announced its tax reform plan in September 2016, with car manufacturers already seeing sales skyrocket over the past months. Car manufacturers have

been appealing for lower tax rates and additional price brackets for taxing vehicles, saying that the DoF’s proposal appears to be “confiscatory.”

E-Trike... from page 7

documents with the Asian Development Bank (ADB). The current DOE leadership is pushing through with the procurement of the 3,000 units of e-trikes instead of 100,000 units because this had already been contracted by the previous Administration. Pulido explained that the DOE decided on 3,000 e-trike units as a sufficient quantity to demonstrate the viability of the technology. “Sustainability dictates that the appropriate ecosystem be in place to support the e-trike beyond deployment or at the point of sale. The terms of the contract of the winning bidder under the project include after-sales support and warranty. This sends a clear and strong signal to the public to make the switch to e-trikes,” Pulido said. Prior to the E-Trike Project, there had been previous attempts to deploy electric tricycles in various parts of the country. However, these early attempts failed because after-sales support was absent or inadequate. In fact, during the pilot stu dy w h i ch s e r ve d as

CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011

the basis for the E-Trike Project conducted by the Asian Development Bank (ADB) in 2011, after-sales support and warranty were key lessons learned that would determine the success or failure of the e-trike, Pulido pointed out. Nonetheless, he said, the DOE is committed to working with the ADB and other government partners to address the socially sensitive issue of the project regarding price. The D OE also noted that ADB’s international competitive bidding rules were observed in every step of the project. The original project scope of deploying 100,000 e-trike units with a total project cost of P21.672 billion required various arrangements involving the government, the private sector and ADB. Nevertheless, the DOE acted to ensure that the project would benefit the public at minimal cost to taxpayers. Proof of this is the downscaling of the project cost from a whopping P21 billion to just P1.73 billion. Pulido said the project is an investment not only i n te ch nol o g y and t he e nv i ron me nt but more i m p o r t a n t l y, a s o c i o economic investment that would jumpstart a nascent industry, generate jobs and ensure sustainable energy consumption in the country.

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friday|june 9, 2017

Republic of the Philippines Supreme Court 12th Judicial Region, REGIONAL TRIAL COURT Branch 21 Kapatagan, Lanao del Norte IN THE MATTER OF THE APPLICATION FOR ACCREDITATION OF THE MINDANAO DAILY NEWS PUBLISHING CORPORATION SPL. PROC. NO. 21-532 TO PUBLISH JUDICIAL AND LEGAL NOTICES AND OTHER SIMILAR ANNOUNCEMENT. MINDANAO DAILY NEWS PUBLISHING CORPORTION, Applicant. x- - - - - - - - - - - - - - - - - - - - - - - - - - - - -/ ORDER A verified petition on the application for accreditation of the MINDANAO DAILY NEWS PUBLISHING CORPORTION, to publish judicial and legal notices and other similar announcement was filed by its president Dante M. Sudaria on May 10, 2017. The petition alleges, to wit: 1. That the applicant MINDANAO DAILY NEWS PUBLISHING CORPORATION is a Corporation and registered in accordance with the laws of the Republic of the Philippines with the principal place of business at Abellanosa St., Consolacion, Cagayan de Oro City and is represented in this application by its President Mr. Dante M. Sudaria. 2. That the applicant, MINDANAO DAILY NEWS PUBLISHING CORPORATION described as follows: a.1. Title of the publication: MINDANAO DAILY a.2. Name of the President:: DANTE M. SUDARIA a.3. Name of the Editor-in-Chief: ALLAN M. MEDIANTE a.4. Frequency of publication: DAILY a.5. Address: ABELLANOSA ST., CONSOLACION, Cagayan de Oro City, Telefax: (099) 881-0100;856-3344 a.6. Total number of copies printed: 36,000 COPIES DAILY a.7. Month, date, and year of first issue: JULY 17, 2012 3. That MINDANAO DAILY NEWS PUBLISHING CORPORATION is duly registered with the Security and Exchange Commission (SEC) under Certificate No. CS201531735, with the principal place of business at Abellanosa St., Consolation, Cagayan de Oro City. Copy of the Certificate of Regisration is hereto attached as ANNEX “A”, 4. That MINDANAO DAILY is edited and published in Cagayan de Oro City and circulated in the Northern Mindanao; 5. That MINDANAO DAILY has been regularly published for at least one (1) year since the publication of it first issue in JULY 17, 2012; 6. That the MINDANAO DAILY carries commercial display advertising. Attached is a copy of the publication’s current contract form showing its commercial display advertising rates (Annex “B”) 7. That the MINDANAO DAILY does not merely reproduce or reprint news pages of other newspaper or periodicals within the Mindanao Region but also publishes original news items coming from its several bureaus located throughout Northern Mindano; 8. That MINDANAO DAILY is a bonafide member of Misamis Oriental-Cagayan de Oro Association of Publishers (MOCAP), Inc., a legitimate association of newspapers, publishers, and that the said newspaper carries commercial display advertising; 9. That MINDANAO DAILY is also circulated in Misamis Oriental and in all cities and provinces in Northern Mindanao over the Regional Trial Court has jurisdiction; 10. That MINDANAO DAILY is fully qualified to publish legal and judicial notices as provided for under the provision of PD 1079; 11. That the publication rates to be charge on client are in accordance with the rates for Misamis Oriental as per Court Order dated April 17, 2007 in the case of IBP Misamis Oriental – vs- Misamis Oriental-Cagayan de Oro Association of Publishers, (MOCAP), Inc., copy attached as ANNEX “C”; 12. That attached to this applications are the following: a. Three (3) sample copies of the newspaper’s or periodical’sprinted format for legal and judicial notices following the requisites prescribed by Section 4 of P.D. No. 1079: (ANNEX “D”); b. Copies of an issue of the newspaper containing commercial advertisements published in the last twelve (12) months, (52 issues); c. Certified true copy of a contract or insertion order or invoice describing the size and rate of the advertisement; (ANNEX “F”) d. Certified true copy of the newspaper’s official receipt showing payment per contracted advertising rate (ANNEX “G”). Finding the petition sufficient in form and substance, the same is hereby set for summary hearing to August 31, 2017 at 8:30 o’clock in the morning. Let this Order be published in a newspaper of general circulation in the Province of Lanao del Norte for three (3) consecutive weeks at the expense of the petitioner. Any person who has an interest in the petition may file his/her opposition thereto within fifteen (15) days from notice of this petition or from the last day of publication of this order. Further, let this order be posted for fifteen (15) consecutive days prior to the date of hearing on the bulletin board of the Provincial Capitol, Pigcarangan, Tubod, Lanao del Norte, bulletin board of the Municipal Hall of Kapatagan, Lanao del Norte, bulletin board of barangay Consolacion, Abellanosa St., Cagayan de Oro City where the newspaper’s place of business is situated and on the bulletin board of this Court.

SO ORDERED. Kapatagan, Lanao del Norte. May 29, 2017.

BWM: June 2, 9 & 16, 2017

Donations... from page 2

rest of the country. These donations are distributed by the ARMM-HEART to internally displaced persons (IDPs) who are staying either in homes of relatives or in designated evacuation centers. The center generally receives food such as rice, canned goods, noodles, dried fish, coffee, sugar, milk powder, biscuits, juice powder, bottled water, eggs and fruits. Non-food items are also donated such as hygiene kits, used clothing, diapers, b aby clot hing, praying materials and mats, toys, and other items such as trapal, mats, malong, medicines, cadaver bags, and jerry cans. ARMM’s employees have also been active in raising donations since the crisis started in the third week of March. Employees of the region’s Department of Natural Resources recently delivered various items including dried go o ds, used clothes as well as cash donations that could support at least 25 families. “The ARMM departments are committed to giving aid to the families displaced by the Marawi crisis,” Albashir S a i d e n , D E N R- A R M M executive assistant, said. Although many donations are p our ing in, Henr y underscored that the relief goods needed most by the IDPs are bottled water, halal food, hygiene kits, kumot (bedding), kulambo (mosquito net), banig (mat), and products babies need. A R M M - H E A RT h a s distributed a total of 20,000 bottled water and almost 10,000 relief packs to evacuees in Iligan City during the early days of the crisis. So far, a total of 26,082 families, or 130,410 individuals, have

been provided with food and non-food items. “Hanggat may IDPs, patuloy and pagbibigay natin ng relief goods (As long as there are IDPs, distribution of relief good will continue),” ARMM Governor Mujiv Hataman said. While the regional government continues to call for donations, it has also earmarked P100 million in relief assistance to families adversely affected by the crisis. (Bureau of Public Information/PIA-10)

-ooo WAT C H “A N G TA NG I NG DA A N” AT FACEBOOK: Please watch “Ang Tanging Daan”, a Bible e x p o s i t i o n a n d p r ay e r session for ever yone, in English and Filipino, at w w w. f a c e b o o k . c o m / angtangingdaan. Reactions: 0917 984 24 68, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

take control of your heart and character every day, He will give you a new life by helping you change with His love and power. Even with all your past failures and wrongs, your Maker will still give you another chance. So why not ask Him today? Just Think a Minute …

from page 4 All the technical things involved in our education should somehow tend to the learning of how to deal with the Holy Spirit. For this, it might be useful also to know the gifts of the Holy Spirit which enable us to know things the way the Holy Spirit knows them. We s h o u l d n e v e r marginalize, much less, ignore, the Holy Spirit in our education. roycimagala@ gmail.com.

A d d i t i o n a l l y, t h e company noted it will be renegotiating its business deal with Indonesian partner PT Ekamaro for petroleum concession in C e pu b l o c k a l on g E a s t Java. Basically, the firm noted that it sought “extension of the cooperation between PT BES, a subsidiar y of Basic Energy, for its Cepu, Indonesia project with PT E kamaro unt i l O c tob er 31, 2020.” Cu ay c on g e x p l a i n e d that the deal already has an e x i s t i ng a g re e m e nt , b ut it w i l l b e e x pi r i n g around October this year. Hence, there is a need to pursue some renegotiation process on its extension. Basic Energy has been pursuing various oil exploration ventures in Indonesia and the business tie-up with PT E kamaro had just b e en one of these undertakings.

from page 4

from page 5

Hurst... from page 4

Batas...

society today. Committing falsities brazenly has become an ordinary thing to do for many Filipinos, in the name of survival. It has become acceptable to be wicked and sinful, either because it is necessary to keep body and soul together for many, or because it is a way of enjoying material affluence for others. The prevailing notion is now, if others can do it, why can’t we do it, too? This sorry state of things was predicted to happen many years ago and it is amazing that these predictions are happ e n i ng now i n ou r generation. Sadly though, the penalties that are to come for all these sinfulness are starting to be served by many already, in our own time!

Cimagala...

Cement...

because of the location, manpower, and cost of materials,” he said. The facility will be built in a period of about three years, he added. Moreover, the DMCI chief said the company aims to sell its cement products in the southern part of Luzon as well as in Western Visayas and Western Mindanao. (Kris M. Crismundo/PNA)

Offshore... from page 5

our deposit will be turned into equity.” Basic Energy had been on the lookout for various opportunities in renewable energy i nve st m e nt s – an d h a d ge n e r a l ly b e e n s e e k i ng tie-ups with some foreign players.

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region OFFICE OF THE CLERK OF COURT EX-OFFICIO SHERIFF Tubod, Lanao del Norte NOTICE OF EXTRA-JUDICIAL SALE EJF No.: 207-07-2017 Upon the Extra Judicial Petition for Sale under Act 3135/1508, as amended. Filed by the 1st Valley Bank Inc., Baroy, Lanao del Norte against LENNETH PEPITO, Tubaran, Tubod, Lanao del Norte to satisfy the indebtedness which as of November 27, 2015 amounting to ONE HUNDRED THOUSAND (Php 100,000.00) excluding penalties, changes, attorney’s fee and expenses of foreclosure, the undersigned or his duly authorized deputy will sell at public auction on 18TH day of July, 2017 at 10:00 AM or soon thereafter at the Regional Trial Court, Branch 07, Provincial Capitol of Lanao del Norte, Pigcarangan, Tubod, Lanao del Norte, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all its improvements, to wit: LIST OF MORTGAGED PROPERTIES A parcel of RESIDENTIAL LOT known as Lot No. A-2-K Csd-123522-005753, situated in PIGCARANGAN, municipality of Tubod, Lanao del Norte, Island of Mindanao, Philippines. Containing a total area FOUR HUNDRED THIRTEEN (413) SQUARE METERS more or less including all improvements found thereof and particularly bounded as follows: LOT NO. A-2-K, CSD 123522-005753 Bounded on the SW, along line 1-2 by the National Highway; on the NW., along lines 2-3-4 by Lot A-2-C Csd 123522-005753; on the NE, along line 4-5 by Lot A-2-Q and on the SE., along line 5-1 National Highway, Tubod, Public subdivision.

‘’All sealed bids must be submitted to the undersigned on the above stated time and date.

Tubod, Lanao del Norte, Philippines, this 16th day of May, 2017.

For the Clerk of Court and Ex-Officio Sheriff (SGD.) ALBERTO P. QUINTO Acting Presiding Judge

BWM: June 2, 9 & 16, 2017

(SGD.) CONRADO V. HINGCO, JR. Sheriff IV

PayMaya...

and P200 billion worth of pro cessed transactions. Including Smart Money, it has six million users as of last year. PayMaya -- a digital platform that allows businesses to receive payments from all cards anytime -- earlier said it is adding more government and private partners for its services, which would include payment acceptance, usage occasion, remittance and billing.

Tax...

from page 6

in further compromises. “Nevertheless, reported statements by the finance secretary imply the bill in its current form will add around 0.8 percent of GDP [gross domestic product] to revenue in 2018, not far from the government’s original estimates of around one percent of GDP,” Fitch said. The tax reform package two is “revenue-neutral.” Around P34.8 billion will be lost once CIT is gradually reduced from the current 30 percent to 25 percent by 2021, while the same amount is expected to be generated from the rationalization of fiscal incentives. Once package two is passed into law, the DOF wants the fiscal incentive regime to be performancebased, time bound, targeted and transparent. It will also implement sunset provisions to a maximum of five-years. Likewise, the five percent gross income earned tax will be replaced by a reduced corporate income tax rate of 15 percent. The proposed law will also expand the coverage of the Fiscal Incentives Review Board (FIRB) to include all incentives recipients beyond state-owned companies. The FIRB will also review all incentives granted by the Philippine Economic Zone Authority, Board of Investments and other economic zones. The proposed law will also enforce the minimum corporate income tax and simplify the tax system.

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friday|june 9, 2017

Traders... from page 1

of Lanao del Norte as well as Misamis Occidental and Caraga Region. “Supplies of goods are adequate. And if there’s a need for more supplies, manufacturers can source it to other points -- from Mindanao and Visayas,” Pascua said. DTI officials including Secretary Ramon Lopez and Pascua immediately went to Cagayan de Oro and Iligan City on Monday after reports during the weekend that rice prices in the area and Marawi City jacked up by 100 percent to around Php 5,000 to Php 6,000 per 50-kilogram sack. Pascua said there were no retailers selling in that price range in main markets of Iligan City. But some sarisari stores in Baloy, at the boundary of Iligan City and Marawi City, were seen to sell commercial, premium, and “fancy rice” at the said price level. He noted that the price freeze only covers basic commodities, and commercial rice is not covered by this. “This is not NFA rice. These is commercial, premium, fancy rice selling at Php 5,000 per [50-kilogram] sack,” the official said. Pascua mentioned that the increase in prices of commercial rice in some stores in Baloy was mainly due to the logistics constraint brought by the conflict in Marawi City. The fastest way of delivering rice going to Baloy is through Marawi City, but due to the clashes between troops and terrorist group, distributors have to go longer routes which adds to the logistics cost and increases the price of the commodity, Pascua explained. He added that Baloy was a Maranao area, in which large percentage of population were Muslims and preferred commercial rice than NFA rice. “So, it’s about supply and demand. You have limited supply because of the logistics constraints and you have demands since they prefer the commercial rice,” Pascua said. In a text message to reporters, Lopez said retailers, distributors, and manufacturers were not concerned with the martial law in Mindanao. Instead, the declaration made them to feel safe and secure amid the conflict in Marawi City. “Only slight issue cited is more traveling time for deliveries due to checkpoints, but they understand the importance and willing to cooperate, and they just adjust delivery time. [They are in] full support to government efforts,” the DTI chief added.

Crisis... from page 1

situated only 123 kilometers where the police and the military are currently battling terrorists in battle-weary and debris-filled Marawi City. “What’s happening in Marawi has never affected

our timeline so far. We are continuing preparations to set up office,” Jo-Ann Vidal, Euroepan Chamber overseer for Northern Mindanao, said. The office will be adjacent to the existing headquarters of Oro Chamber, the influential group of MSMEs in the city. Between now and September, the European Chamber of Commerce of the Philippines secretariat will be busy touching base with European business interests located in the northern part of the island. “I still have to inventory how many businesses are located here. We’re still collating,” Vidal said. Once their office is in place here, ECCP will do business matching and assist the European companies in their export and import needs particularly on document followups. ECCP will also assist Filipino businesses which will put up branches in Europe, Vidal added. With nearly 800 members, the ECCP also offers market intelligence briefings and research, access to live business opportunities, u p d at e s o n t h e l at e s t business developments and industry trends, assistance in internationalizing or lo c a lizing business, marketing and promotions opportunities, networking opportunities and customized training solutions.

Naliyagan...

from page 1 socio-cultural festivities. The bigger celebration from June 10-17, however is coupled with extra tight security deploying hundreds of police and Army soldiers that will secure the four-hectare Datu Lipus Ma kap andong Cu ltura l Center apart from CCTV cameras, K9 dogs and aerial drones that will be installed to thwart any attempts of violence in the wake of the imposition of martial rule in Mindanao. Provincial board member Santiago Cane, chair of the Naliyagan Festival executive committee, said festival goers will be entertained with new and improved activities to make the celebration more special as a fitting tribute to the province’s golden anniversary and Naliyagan Festival’s silver year. “This year’s celebration has been extended to eight days from the traditional six-days due to the insistent public demand asking for more exciting and enjoyable events,” Cane said. He said new highlighted events like the traditional tribal wedding, horse show competition, pintahusay (onthe-spot painting contest, barn dance competition , outstanding Agusanon aw a rd s w i l l a d d m ore excitement to the previous year’s crowd drawers like the bauto (banca) race, BMX bridge crossing challenge and the Naliyagan tribal street dancing competition. The trade fair featuring local agricultural products , home-made delicacies

and the inauguration of the provincial mini-museum are also significant events to showcase the province’s achievements . Another come-on of the celebration is the Bai Naliyagan beauty contest which will parade the best bets from the 13 towns and the city of Bayugan to the coveted crown with former Miss Universe 2011 third runner up Shamcey SupsupLee hosting the pageant night. The provincial government will give special treatment to the tribal leaders of the different tribes in the province who will kick off the celebration with the traditional panawagtawag (calling of the gods) ritual. They will be staying throughout the duration of the festival and will be billeted at the capitol’s guest house with VIP accommodation. Gov. Adolph Edward Plaza will deliver his Stateof-the-Province Address on the foundation day of Agusan del Sur on June 17 at the Sangguniang Panlalawigan session hall. Manny Rosaut, president and CEO of Na liyagan Festival Stakeholders Foundation who is running the whole event, said at least 12 famous rock bands from Manila and several other p opu l ar show business personalities will perform the nightly concert before the spectacular fireworks display. Rosaut said all of the performers are newcomers to make it special from the previous Naliyagan festivities. Among those who will perform will be Bamboo, Gloc 9, the Dawn, songstress Imelda Papin, homegrown popular folk singer Bayang Barrios and many others. Malacanang officials who will grace the festival would be presidential legal counsel Salvador Panelo, and Agriculture Secretary Manny Piñol. President Rodrigo Duterte was invited but Cane said he already made a prior commitment to attend the same 50th founding anniversary of neighboring Agusan del Norte province. Supt. Bonifacio Estrella, overall security supervisor, s aid t he y w i l l b e ve r y stringent on the entry of festival goers that they will require them to present valid IDs while checkpoints, choke points and plainclothes security personnel will be securing the entire vicinity in 24 hours.

Featured... green certification of IFCWorld Bank. “The company would have not gone this far without the people working in it and our loyal exter nal partners,”Architect Nati as he humbly shared his thoughts on his projects’ commercial success. In the section of the magazine, Nati also shared his fascination to renewable energy and green design ever since he was young. Right now, apart from being a key member of IDC, he is the current Vice Chairman of a renewable energy company Constellation Energ y Corporation that focuses in acquiring, financing and developing small to mediumscale renewable energ y projects in the countr y. (Advertorial)

Hike... from page 2

at P27 a kilo, regular milled rice at P40 a kilo, well-milled rice at P44 to P48 a kilo and upscale rice at P52. These prices, except for upscale rice, have the same price prior to the declaration of Martial Law. In a statement, DTI Secretary Lopez informs all consumers and retailers that pursuant to Section 6 of Republic Act 7581 or the Price Act, prices of basic necessities in areas proclaimed or declared under Martial Law shall be automatically frozen at their prevailing prices or placed under automatic price control. “Supply of goods in Iligan City and Lanao del Norte markets is also abundant despite the threat of terrorism in some of the province’s rural areas. Hence, I refuted reports that prices of basic commodities soared high in the wake of Marawi crisis,” Lopez said. He, therefore, urged the buying public to countercheck the prices sold in markets to ensure they are buying goods with the right price. ( R L R B a l i s t oy / P IA- 1 0 , Bukidnon)

P.R.A Form No. 10.1 LCRO Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL Cagayan de Oro City NOTICE OF PUBLICATION In compliance with Section 5 of R.A No. 10172 and R.A 9048, a NOTICE is hereby served to the public that JERRY MAE I. LEGARA has filed with this Office a petition for the correction of clerical error in the entry of the child’s date of birth from ‘’JULY 27, 1989’’ to ‘’MAY 27, 1989’’ and the child’s sex from ‘’FEMALE’’ to ‘’MALE’’ in the Certificate of Live Birth of JERRY MAE I. LEGARA who was born on JULY 27, 1989 (as per PSA File) in CAGAYAN DE ORO CITY and whose parents are JUNAS SIDAL LEGARA and MERIAM E. INDAT. Any person adversely affected by said petition may file his written opposition with this Office not later than June 17, 2017. BWM: June 9 & 16, 2017

Republic of the Philippines Supreme Court 12th Judicial Region, REGIONAL TRIAL COURT Branch 21 Kapatagan, Lanao del Norte

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(SGD.)NORMA S. DIPUTADO City Civil Registrar

IN THE MATTER OF THE APPLICATION FOR ACCREDITATION OF THE CAGAYAN TIMES TO PUBLISH JUDICIAL AND LEGAL NOTICES AND OTHER SIMILAR ANNOUNCEMENT. SPL. PROC. NO. 21-531 CAGAYAN TIMES, REP. BY ITS PROPRIETOR PINKY DOMINGO CADAVEDO, Applicant. x- - - - - - - - - - - - - - - - - - - - - - - - / ORDER A verified petition on the application for accreditation of the CAGAYAN TIMES to publish judicial and legal notices and other similar announcement was filed by its proprietor Pinky Domingo Cadavedo on May 10, 2017. The petition alleges, to wit: 1. That the applicant CAGAYAN TIMES is a single proprietorship and registered in accordance with the laws of the Republic of the Philippines with the principal place of business at Abellanosa St., Consolacion, Cagayan de Oro City and is represented in this application by its Proprietor/Owner MS. PINKY DOMINGO CADAVEDO; 2. That the applicant, CAGAYAN TIMES described as follows: a.1. Title of the publication: CAGAYAN TIMES a.2. Name of the Publisher: PINKY D. CADAVEDO a.3. Name of the Editor-in-Chief: MARK D. FRANCISCO a.4. Frequency of publication: WEEKLY a.5. Address: ABELLANOSA ST., CONSOLACION, Cagayan de Oro City, Telefax: (099)856-3344 a.6. Total number of copies printed: 5,000 COPIES a.7. Month, date, and year of first issue: July 31, 2012 3. That CAGAYAN TIMES is duly registered with the Department of Trade and Indusry (DTI) under DTI Certificate No. 01801884, with the principal place of business at Abellanosa St., Consolacion, Cagayan de Oro City. Copy of the Certificate of Registration is hereto attached as ANNEX “A”; 4. That CAGAYAN TIMES is edited and published in Cagayan de Oro City and circulated in the Northern Mindanao; 5. That THE CAGAYAN TIMES has been regularly published for at least one (1) year since the publication of its first issue in JULY 31, 2012; 6. That the CAGAYAN TIMES carries commercial display advertising. Attached is a copy of the publications’ current contract form showing its commercial display advertising rates (ANNEX “B”); 7. That the CAGAYAN TIMES does not merely reproduce or reprint news pages of other newspaper or periodicals within the Mindanao Region but also publishes original news items coming from its several bureaus located throughout Northern Mindanao; 8. That CAGAYAN TIMES is a bonafide member of Misamis Oriental-Cagayan de Oro Association of Publishers (MOCAP), Inc., a legitimate association of Newspapers, Publishers, and that the said newspaper carries commercial display advertising; 9. That CAGAYAN TIMES is also circulated in Misamis Oriental and in all cities and provinces in Northern Mindanao over the Regional Trial Court has jurisdiction; 10. That CAGAYAN TIMES is fully qualified to publish legal and judicial notices as provided for under the provision of PD1079; 11. That the publication rates to be charge on client are in accordance with the rates for Misamis Oriental as per Court Order dated April 7, 2007 in the case of IBP Misamis Oriental – vs- Misamis Oriental-Cagayan de Oro Association of Publishers, (MOCAP), Inc., copy attched as ANNEX “C”; 12. That attached to this applications are the following: a. Three (3) sample copies of the newspaper’s or periodical’s printed format for legal and judicial notices following the requisites prescribed by Section 4 of P.D. No. 1079; (ANNEX “D”); b. Copies of an issue of the newspaper containing commercial advertisements published in the last twelve (12) months, (52 issues); (ANNEX “E”); c. Certified true copy of a contract or insertion order or invoice describing the size and rate of the advertisement; (ANNEX “F”); d. Certified true copy of the newspaper’s official receipt showing payment per contracted advertising rate (ANNEX “G”). Finding the petition sufficient in form and substance, the same is hereby set for summary hearing to August 31, 2017 at 8:30 o’clock in the morning. Let this Order be published in a newspaper of general circulation in the Province of Lanao del Norte for three (3) consecutive weeks at the expense of the petitioner. Any person who has an interest in the petition may file his/ her opposition thereto within fifteen (15) days from notice of this petition or from the last day of publication of this order. Further, let this order be posted for fifteen (15) consecutive days prior to the date of hearing on the bulletin board of the Provincial Capitol, Pigcarangan, Tubod, Lanao del Norte, bulletin board of the Municipal Hall of Kapatagan, Lanao del Norte, bulletin board of barangay Consolacion, Abellanosa St., Cagayan de Oro City where the newspaper’s place of business is situated and on the bulletin board of this Court.

SO ORDERED. Kapatagan, Lanao del Norte. May 26, 2017.

BWM: June 2, 9 & 16, 2017

(SGD.) ALBERTO P. QUINTO Acting Presiding Judge

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friday|june 9, 2017