BusinessWeek Mindanao (March 15-16, 2016)

BusinessWeek MINDANAO

GOD IS GOOD

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YOUR Mindanao-wide BUSINESS paper

Volume VI, No. 112

Market Indicators As of 6:12 pm march 15, 2016 (tuesday)

FOREX

PHISIX

US$1 = P46.83

7,112.89

X

24 cents

14.25 points

X

Briefly Resettlement THE implementation of the Cagayan de Oro–Balubal Relocation Project under the Resettlement Assistance Program situated in Barangay Balubal is expected to take place soon.

This, as the City Council headed by Vice Mayor Caesar Ian E. Acenas, through the committee on laws and rules chaired by Councilor Ramon Tabor is now reviewing the draft of the Memorandum of Agreement (MOA) to be entered into by the city government and the National Housing Authority (NHA) for the implementation of the proposed project.

It may be recalled that the committee on subdivision and landed estate chaired by Councilor Alexander Dacer during its meeting Friday approved and favorably endorsed the matter to the committee for appropriate action.

Tax deadline DAVAO del Norte -- Although the deadline is set every April 15 of the year, the Bureau of Internal Revenue District 112 plead to all taxpayers to file Income Tax Return (ITR) for calendar year 2015 on or before March 30.

Revenue District Officer Judith Pacana encouraged recently the taxpayers to file their ITR early to avoid systems congestion, penalties and inconvenience of late filing.

Pacana emphasized that most of tax payers were mandated already to file their tax returns through the eFiling and Payment System (eFPS).

“The secretary (Sec. Kim Henares) said that there will be no condonation if there will be no problem with the eFPS.”

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PHILIPPIANS 4:13 I CAN DO ALL THIS

THROUGH HIM WHO GIVES

ME STRENGTH

Agus 1 and 2 back to Mindanao grid www.businessweekmindanao.com

Tue-Wed | March 15-16, 2016

P15.00

By Antonio L. Colina IV, MindaNews

D

AVAO City — Agus 1 and 2 of the Agus hydropower c o m p l e x h av e b e e n reconnected to the Mindanao grid after the Interagency Task Force on Securing Energy Facilities restored Monday transmission tower 25, which was toppled on December 24, 2015.

In a press statement released on Monday, the Department of Energy (DOE) said restoration works on tower 25 located in Ramain, Lanao del Sur started last March 5 after the Regional Trial Court in Marawi City issued a court ruling directing lot owners “to allow access in their claimed property for the rehabilitation to proceed smoothly.”

The order was directed to lot owners Johny, Intan and Naguib Sambitori.

Restoration works on tower 25 had been stalled since December when the Sambitori family demanded that government pay P40 million in unsettled claims for the portion of the lot where the structure stood. agus/PAGE 11

CLOSED. BIR Regional Director Glen Geraldino (center) confers with Asst. Director Nuzar Balatero as they serve the closure order to Cagayan Diamond Hardware and Auto Supply main office at Divisoria and its branch, at Upper Macasandig, both in Cagayan de Oro City yesterday for violating tax regulations. PHOTO BY GERRY LEE GORIT

2 more establishments closed for tax violations

By CHENG ORDOÑEZ, BWM Executive Editor

THE Bureau of Internal Revenue in Cagayan de Oro City yesterday padlocked two more establishments

found violating tax regulations.

Ordered closed were two branches of Cagayan Diamond Hardware and

Auto Supply, located along Hayes-Capt. Roa Streets and Brgy. Upper Macasandig, owned by businessman Richard Caminse. closed/PAGE 11

Aboitiz eyes new plant in Bukidnon

By CARMELITO Q. FRANCISCO, Correspondent

UMBRELLAS. Colorful umbrella summer time at Centrio Ayala Cagayan de Oro City. PHOTO BY GERRY LEE GORIT

HED COR , Inc., an Aboitiz Power Corp.

(AboitizPower)

subsidiary focusing on hydropower facilities, is looking at setting

up another plant in Bukidnon province with a capacity of between 60 to 120 megawatts (MW). aboitiz/PAGE 11

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businessmen cite A Glimpse of Bukidnon’s ARMM region good governance Kaamulan festival is in CDO

A

N all in-one package of Bukidnon food, culture, arts, tradition and tourism is brought to Cagayan de Oro for a special trade fair feast in celebration of Kaamulan Festival, an annual and month long festival in Bukidnon that celebrates the bounty of the province and a colourful parade of its hill tribes.

Through the cooperation o f t h e D e p a r t m e nt o f Tr a d e a n d I n d u s t r y (DTI) provincial office in Bukidnon, provincial government of Bukidnon and SM Mall Cagayan de Oro City, “A Glimpse of Kaamulan at SM mall CDO” was launched on 10 March 2016 at SM Mall Cagayan de Oro to signify the ongoing Kaamulan celebration in Bukidnon, entice Kagayanons and all travellers to visit Bukidnon as the province celebrate Kaamulan

which started on 4 March and will end on 2 April.

According to DTI Bukidnon Provincial Director Ermedio J. Abang, the stalls in SM mall are all devoted for the province’s micro, small and medium enterprises (MSMEs). He said that they have brought in products such as fresh and processed foods, coffee and cacao products, organic products, peanut products and banana chips, abaca, wood and bamboo crafts, art works and bead works.

Further, they have also incorporated investment opportunities and tourism.

Abang said that apart from the trade fair, this activity also aims for more awareness and appreciation of Bukidnon heritage and culture.

Meanwhile, lawyer Albert R . L agamon, Bukidnon provincial board member said that they are thankful

BROADCASTING DAILY AT 1368 ON AM BAND AND ON PARASAT CABLE TV AT CHANNEL 5

for the opportunity to bring a glimpse of Kaamulan in Cagayan de Oro city. He said that instead of just being known as the food basket of Mindnao, they want to be known as the kitchen of Mindanao. This is because they are already processing food and providing packaged food products all over the island and the country.

He also invited everyone to experience Bukidnon, to feel the cool wind but most importantly experience the warmth of its people.

Department of Tourism Regional Director Catalino

E. Chan III further said that Bukidnon is the place where the clouds kiss the mountain.

In terms of the must go places in the region, Bukidnon has also put its mark. Aside from Cagayan de Oro and Camiguin, Bukidnon has become among the most visited places in Northern Mindanao, he said.

Among the most renowned adventure sites in Bukidnon are the longest dual zipline in Asia located in Dahilayan Advenure Park, Mt. Kitanglad as one of the ASEAN heritage parks and a glimpse/PAGE 11

MARAWI City -- Business leaders in the Autonomous Region in Muslim Mindanao (ARMM) have cited good governance as among the major reasons for increased investments in the region during a meeting with Switzerland’s ambassador to the Philippines Andrea Reichlin.

The main subject of the meeting, hosted recently by the Regional Board of Investments (RBOI), was on inclusive peace and development in ARMM. The business leaders noted their active participation, as well as that of other civil society groups, in consultations and monitoring

of the regional government’s projects and policies has been effective in promoting peace and development under the administration of Governor Mujiv Hataman.

The group further expressed confidence that the climate for investments in the ARMM would remain positive this year. Last year, RBOI posted P6.5 billion in fresh capital infusion, the best year ever in terms of investments in the 25-year history of the ARMM. I n J a n u a r y, R B O I chairman Ishak Mastura said, the region already exceeded its investment target of P700 million for 2016 with the armm/PAGE 11

Tabang Medico in Pagatpat. Hundreds of residents in barangay Pagatpat benefit from the free dental and medical services offered by the city government of Cagayan de Oro during the Tabang Medico on March 11.

Among the free services offered are rabies vaccination, deworming, animal dispersal, jobs posting, seedling distribution, haircut, massage therapy and other auxiliary services.(CIO/PIA10)

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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SM Malls join Earth Hour 2016 On March 19, all SM Supermalls across the Philippines and China will unite with the global community in observance of Earth Hour, a yearly event that aims to raise awareness on climate change.

In Mindanao, SM City Cagayan de Oro, SM City Davao, SM City General Santos and SM Lanang Premier, in partnership with the World Wide Fund for Nature Philippines,

will be one with the Earth Hour movement, renewing their commitment to meaningful climate solutions. For 60 minutes, from 8:30 pm to 9:30 pm, lights will go out in support of sustainable mall operations and energy consumption.

A program is slated on Saturday, 7:30 pm at SM Mindanao malls. Various stakeholders from the public and private sectors, socio-civic organizations

and residents of nearby communities are expected to join the said celebration with this year’s theme “Shine A Light On Climate Action” Earth Hour, a lightsoff event that started in Australia in 2007, is recognized as the world’s largest voluntary action for the environment. It has grown to engage more than 162 countries and territories worldwide.

In the Philippines,

CEB launches maiden flight to Guam, USA The Philippines’ leading carrier, Cebu Pacific (PSE: CEB), launched four times weekly flights between Manila and Guam, its first US destination, today.

CEB is the only lowcost carrier flying directly between the Philippines and Guam. Lowest yearround fares between Manila and Guam start at PHP 7,203 (all-in), which is approximately 40% lower compared to other airlines.

“We are proud to operate our first route in the US today, which coincides with the month of our 20th anniversary.

We share this excitement with Filipinos in Guam, who may now come home to their families more often, and with travelers from the Philippines,

who aim to cross another destination off their bucket list,” says Alex Reyes, CEB General Manager for Long Haul Division.

“We hope to strengthen trade and tourism between the Philippines and Guam, through faster, more affordable, and more accessible flights for everyJuan,” added Reyes.

CEB’s Guam route operates every Tuesday, Thursday, Saturday, and Sunday, utilizing the airline’s brand-new Airbus A320 fleet. The non-stop service departs Manila at 3:45AM, arriving in Guam at 10:15AM. The return flight departs Guam at 12:30PM, arriving in Manila at 2:55PM. Nathan Denight, Guam Visitors Bureau General

CEB Long Haul Division General Manager Alex Reyes pose together with cabin crew during the inaugural flight launch of the airline’s Manila – Guam service on March 15, 2016. Photo courtesy of Dodie Legaspi

Manager, remarked on the occasion, saying: “Cebu Pacific’s entry into Guam creates an opportunity to further connect our island and the Philippines. It also creates new and exciting flight/PAGE 11

SM Supermalls actively participates in the Earth Hour. Through its corporate social

responsibility arm – SM Cares, it has championed the need to mitigate climate change and

embarked on projects that push for environmental protection and sustainability.

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Opinion

Drilon must be replaced as Senate head now LIFE’S INSPIRATIONS: “…

If God is for us, who can be against us? He who did not spare his own Son, but gave him up for us all---how will he not also, along with him, graciously give us all things?...” (Romans 8:31-32, the Holy Bible).

-ooo REACTIONS ON “NOEL” SCENARIO COME POURING IN: Wow, I have been receiving torrents of reactions, both pro and con, over my claim in this column that President Aquino and his officials are maneuvering to prevent the holding of the May 09, 2016 elections, to enable him to continue being president even after his term shall have ended

by June 30, 2016.

First, I thank all those who took their time out to send text messages to me, as well as those who called me, to express their opinion on what I have been saying. Indeed, I can say that Filipinos are now slowly learning to respond to issues, and make manifest their own perceptions about what is going on around.

This can only augur well for a truly democratic system, where it is part of the Constitutional rights of a citizen to speak freely about his thoughts on the

Member:

country, on society, and on the government, without fear of being subjected to any vindictive reaction or any form of vengeful criminal prosecution.

-ooo DR I L ON M U ST B E REPLACED NOW: Second, if there is really no plan to scuttle the May 09, 2016 elections and for President Aquino to continue functioning as president even after June 30, 2016 notwithstanding the postponement or nonholding of the May 09, 2016 elections, this government should already allow Senate President Frank Drilon to step down as Senate president so a new Senate president could be elected from among the senators who will remain as such senators until 2019.

The election of a new Senate president now would be a serious manifestation of the lack of intent on the part of the Aquino government and of President Aquino himself to create a leadership vacuum in the government if and when no election is held on May 09, and if and when no new president is elected

by June 30, 2016.

I am saying this because, under the Constitutional rule on succession, the Senate president is mandated or

legally authorized to assume the presidency if no president or vice president is elected in the May 09, 2016 elections.

Unfortunately for Drilon, he could not succeed to the presidency if there is no election on May 09, because his term shall have already expired by June 30, 2016.

-ooo HOW TO REMEDY A POSSIBLE LEADERSHIP VACUUM: If Drilon could not assume the presidency by June 30, 2016, there is no one else who can be president, because the terms of President Aquino, Vice President Jejomar Binay, and House Speaker Feliciano Belmonte Jr. shall have already lapsed similarly. This would mean a leadership vacuum over which the 1987 Constitution is powerless to remedy.

Such a leadership vacuum would encourage the scuttling of the 1987 Constitution, and the establishment of a revolutionary government by any person or group who or which will have the power to assert themselves as the new leaders. This could be President Aquino himself, aided by his allies, both in the civilian and military sectors.

On the other hand, if Drilon steps down now as

K akampi

Mo A ng Batas

Atty. Batas Mauricio Senate president, and a new president of the Senate is elected before the May 09, 2016 elections from among the 12 senators who will remain until 2019, there would be no leadership vacuum because that new Senate president will have the right to become acting president.

-ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 HOURS a day, in the Philippines and the world at www.facebook.com/ angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

Fixing our sense of beauty

Philippine Press Institute Oro Chamber

Can’t Get No Satisfaction Think a minute…What’s your pleasure? Do you enjoy music and parties? A nice meal with your closest friends?

Or do you enjoy gambling and alcohol? Maybe you love sports like football, tennis or golf ? What’s your greatest pleasure? As one guy puts it: “What turns your eyes red?”

Pleasures make us feel alive and free. But the problem with pleasure is that it only makes us feel good and satisfied for a short time. Unfortunately, we still end up feeling like the old hit song by the Rolling Stones: “I can’t get no satisfaction.”

After the party’s over we’re back to living our same, ever yday life and responsibilities. It seems even worse after your big high and pleasure. Just ask the guy with the terrible hangover. Ask his wife or kids whom he beat up while he was drunk. Ask the wife and children who are suffering terrible heartbreak and pain from the adulterous affair their father had with another woman.

Yet the amazing thing is we keep doing these same wrong things over and over again. These same things that keep hurting ourselves and the ones we love. We keep believing the lie and illusion that these extreme feelings of physical pleasure are what

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THINK

A Minute

Jhan Tiafau Hurst we want and need to feel satisfied. So even though we already know from our own experience that the pleasure doesn’t last and satisfy, we keep going back for more.

We’re almost like the dog that keeps chasing its tail.

But there’s a reason why we can’t be satisfied just from physical pleasures. It’s simply not possible! We are not made or designed that way. We humans are not able to be permanently satisfied with only fun experiences and physical pleasures. You and I were made for much more than “just to have a little fun before we die!” God made us spiritual beings like Him, so the only way we can be fully satisfied and happy is by having a daily, close personal relationship with hurst/PAGE 11

There’s practically an SOS signal issued widely today insofar as our sense of beauty is concerned. Beauty to most people has been abducted and is in urgent need for rescue.

It has been held captive for a long time by some social, cultural and ideological forces that distort its true nature and character, and deny its full rights.

I remember Pope Emeritus Benedict XVI, way back in 2008, making a most heartfelt appeal to reconnect the search for beauty with the search for truth and goodness of actions, or morality, which in the end can only be found in God. The de facto separation of beauty from truth and morality has transformed beauty, in the words of the Pope Emeritus, “into a path that leads to the ephemeral, into banal and superficial appearances, or even a flight toward artificial paradises, which disguise and hide interior emptiness and inconsistencies.”

I believe this issue has to be given due and immediate attention before things get any worse. With the many developments nowadays

that can easily seduce and intoxicate us because of their enormous capacity to give us instant pleasure, convenience and relief, we have to learn to be most discerning and prudent so as not to get lost or confused in what really would comprise as good and beautiful to us.

We need to reiterate quite strongly that beauty in the end is a matter of being with God. For art, for example, to portray beauty, it has to be inspired by God. I agree with what a certain Herman Hesse, quoted by the Pope Emeritus, once said. “Art,” he said, “means revealing God in everything that exists.”

Being “custodians of beauty,” artists therefore have to realize that they need to be inspired by God always.

They have to go beyond technical perfection and worldly inspiration.

They need to be faithful to God and consistent to God’s will and ways. Only in this way can they capture real beauty, not the reduced and compromised one. Let’s hope that they can manage to pursue their artistic creativity and originality along these lines.

Thus, unless we see God in everything, which means that we have God in us to be able to see him in everything, we would hardly see real beauty. Our sense of beauty would be the distorted or false type.

We have to be wary of our strong tendency to romanticize our concept of beauty. It is often said that beauty is in the eyes of the beholder. This can be true only if one has God in himself.

When our sense of beauty is truly inspired by God, then we can see beauty in everything, including our suffering, failures, and the drudgery of the daily routine of our life.

Otherwise, he will simply be dependent only on some technical if not peripheral aspects of beauty that at best can only be transitory and highly limited. He would simply be at the mercy of material or sensual stimuli.

He would not be able to see beauty in everything, especially in those times when our human mind can only discern suffering, pain and other forms of contradictions.

Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost.

-- john quincy adams , 6 U.s. President th

HINTS

and

Traces

Fr. Roy Cimagala We need to have a more effective catechesis on what beauty really is. We need to liberate the world from an insidious misconception that has deceived us for long. The organic connection between God and beauty has to be clearly established in the minds of people.

And after catechesis, one has to learn how to c onte mpl ate b e aut y i n everything, seeing to it that more than simply guided by what our senses can discern, we have to be guided by the truths of our faith. In this way, we can contemplate God in everyone and in everything, and find beauty and meaning in them. roycimagala@gmail. com.

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A griBusiness 6 DA distributes P1.1-B agri projects to farmers 2013 ppi’S Best in Business and Economic Reporting

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HE Department of Agriculture (DA) said it has recently distributed P1.1 billion of farm and fishery equipment and agriculture-related projects in Compostela Valley and Davao del Norte.

Agriculture Secretary Pro c e s o J. A l c a l a s ai d C omp ostel a Va l le y got P457 million farm-related

projects, while Davao del Norte received P646 million.

Alcala said the government provided the equipment and projects as part of efforts to ensure the full recovery of farm areas affected by Typhoon Pablo (international code name Bopha), which ravaged Mindanao in 2012.

He cited local officials and

farmers for their resiliency and their concerted effort to build back better farm f a c i l it i e s a n d i mprov e productivity.

Meanwhile, the turnover of DA Projects at the Davao del Norte Sports Complex in Davao del Norte also provided venue, not only to deliver various assistance, but also highlighted the

Aquino administration’s c onc e r n on promot i ng inclusive growth.

Alcala conducted an open forum, where farmers were allowed to air their sentiments regarding the programs of the government.

The DA noted that Davao del Norte is the leading producer of banana in the Philippines. Alcala said

helping the banana industry cope with El Niño and wipe out banana diseases is one of a major program of the DA. The government assisted banana farmers in the province by rolling out a program aimed at controlling the spread of fusarium wilt in banana plantations.

E arlier, the Pilipino Banana Growers and Exporters Association Inc. said the infestation of the fungal disease is sporadic, making it difficult to contain.

Fusarium wilt, also known as the Panama disease, has been dormant for the past 50 years, but has again appeared in some plantations in some countries.

Fusarium wilt disease continues to wreck havoc on banana plantations in Davao Region DAVAO City -- A total of 15,500 hectares of banana plantation have been infected with Fusarium wilt disease in Davao Region.

Vi r g i l i o G u t i e r r e z , focal person of the Department of Agriculture XI said 700 farmers are h i g h l y a f f e c t e d by t h e lethal fungal disease and are the focused group given assistance by the government.

He said Fusarium wilt is caused by the soilborne fungus Fusarium ox y s for u m sp. c ub e ns e that attacks the vascular system of the banana, preventing it from picking up water.

Gutierrez revealed all var iet ies of b anana are affected by this disease.

“Through the fusarium wilt management program, affected farmers a r e p r ov i d e d f i n a n c i a l assistance by paying those who burned infected plants, particularly those having infected farms five p ercent and b elow,” he said.

Gutierrez said those having crop infection five percent and above can do crop shifting where the Department of Agriculture provides them GTC-219, a banana variety that is resistant to fusarium wilt.

He said this variety is g iven to sma l l g rowers

who are affected by the banana disease.

“A s i d e f r o m t h e prov i s i on of G TC - 2 1 9 , small growers are given hand-outs and trainings on h ow t o m an a g e t h e disease, and the provision of a biological agent which has a potential to manage t he d i s e a s e,” Gut i e r re z said.

He s aid many far ms are affected primarily in Davao del Norte, followed

by C o mp o s t e l a Va l l e y, D av a o C it y, D av a o d e l Sur and Davao Oriental.

Gutierrez said the fusarium wilt thrives fast esp ecially dur ing rainy s e as on . ( PIA 1 1 - Jo e y Sem G. Dalumpines)

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

Pinakalami-an!

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

DALTAN’S KAMBINGAN 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

Kambingan, Bulalohan, Native Manok, Seafoods, Chicken Inasal, Halal.

CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011 Tiano Corner JR. Borja St. | OPEN 24 HOURS!

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

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CorporateWorld

Filinvest Land allocates P20-B capex for this year FILINVEST LAND, Inc. (FLI) is spending P20 billion this year to sustain the growth of its residential and commercial businesses.

FLI Treasurer and Deputy Chief Financial Officer Ana Venus A. Mejia said in a mobile phone message the company has set aside P20 billion in capital expenditures (capex) this year, but declined to provide the actual spending last year.

In August, the Gotianunled developer said its capex budget for 2016 may be lower than the programmed spending of P24 billion in 2015.

FLI is bringing to the market new projects with an estimated value of P14.4 billion this year, including three new medium-rise building (MRB) projects and two additional buildings in

existing projects, according to a regulatory filing.

Aside from the MRBs, FLI has 12 horizontal residential projects with a projected value of about P7.2 billion and two high-rise mixed-use buildings with an estimated sales value of P4.9 billion.

As part of its plan to triple the gross leasable area (GLA) of its business process outsourcing office buildings by 2019, FLI is targeting to complete two more office buildings: Vector 3 with a GLA of 36,345 square meters (sqm) in Northgate Cyberzone and Pasay Cyberzone with a GLA of 36,807 sqm.

For its retail portfolio, the property company is adding another 46,705 sqm to the GLA of Festival Supermall at Filinvest City in Alabang, Muntinlupa, maintaining its Filinvest/PAGE 11

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11.9-MW bunker power plant in Koronadal to operate soon GENERAL Santos City -- The daily rotational brownouts affecting parts of South Cotabato and Sultan Kudarat provinces are expected ease by the end of the month, with the operationalization of Supreme Power Corporation’s (SSC) 11.9-megawatt (MW) bunker-fired power plant in nearby Koronadal City.

Santiago Tudio, South Cotabato 1 Electric C o op e r at ive ( S o c ote c o 1) general manager, said Tuesday SSC has committed to start the operations of the power plant in two weeks to help address the continuing power shortage in the area.

He said the plant has long been completed but the company is still waiting for the issuance of proper

permits from the Energy Regulatory Commission and the Department of Energy.

“The company is targeting to fully operate the power plant by March 26 or 27,” he said in a radio interview.

SSC and its partner Next Power Consortium Inc. launched the construction of t he p owe r pl ant in January 2015 in a property owned by Socoteco 1 in Matulas, Barangay Paraiso in Koronadal City.

Based on the company’s agreement with Socoteco 1, the power plant, which will be powered by modular generator sets from South Korea, will be embedded into the systems of the electric cooperative.

SSC will operate the plant

for 15 years and will directly serve the needs of Socoteco 1’s service or franchise area, which covers Koronadal City, eight municipalities in South Cotabato, and Lutayan town in Sultan Kudarat.

After 15 years, he said, the company will transfer the ownership of the plant to the cooperative at no cost.

Tu d i o s a i d t h e operationalization of the power plant will offset the current shortage of 3 to 5 MW in the area’s daily power requirement, which reaches around 36 MW. Socoteco 1 earlier implemented one to twohour rotational brownouts within its service area as a result of the power supply shortage.

The official said the deficiency is mainly due to the reduction of the cooperative’s contracted power supplies from the National Power Corporation’s (NPC) hydroelectric plants.

He said the generation capacity of NPC’s power plants has declined these past weeks due to effects of the worsening drought triggered by the continuing El Nino Phenomenon.

Aside from NPC, Socoteco 1 draws power supplies from the diesel-fired power plants of the Mapalad Power Corporation and Therma Marine Inc., and the solar power plant of the NV Vogt Philippines Solar Energy One Inc. in Surallah, South Cotabato.

Del Monte Pacific back to profitability in Q3 DEL MONTE Pacific Ltd. swung to a net profit in the third quarter of its fiscal year, sustaining the improved profitability seen in the prior quarter.

The dual-listed fruit canner delivered a net income of $0.6 million in

the three months ending January, inclusive of one-time expenses of $6.9 million after tax, Del Monte Pacific said in a statement.

This reversed a loss of $2.2 million a year ago, weighed by a large provision for inventory and foreign

exchange losses.

Gross margin in the third quarter improved to 20.5% from 19.2% in the same period last year due to the absence of purchase accounting inventory step up, significant improvement in productivity as well as cost

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optimization initiatives.

Sales dropped 7% year on year to $594.1 million in the November to January period from $637.6 million on the back of a 9% decline in US subsidiary Del Monte Foods, Inc. (DMFI) mainly from unsuccessful government

and co-pack contract bids.

Del Monte Pacific got a lift from the 6% uptick in Philippine sales amid holiday season advertising campaigns, coupled with the 35% sales growth in the rest of Asia under the S&W brand.

“In the United States, lower sales to the government and co-pack sectors unfavorably impacted our third quarter sales and may continue to impact our fourth quarter sales,” Del Monte Pacific Managing Director and del monte/PAGE 11

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San Carlos Sun Power’s 59MW solar power completed, eyes April formal launch

A

boiti z P ower s u b s i d i a r y, S a n Carlos Sun Power (SaCaSun), has completed the construction and commissioning of its 59MW solar power project in Negros Occidental and is now exporting power to the Visayas grid.

The project was completed

before the Department of Energy’s (DOE) March 15 deadline for solar power projects in the country.

“We have successfully completed the project in San Carlos City, Negros Occidental and we are now exporting power into t he Visayas grid,” said SaCaSun President and Chief

Operating Officer Lino M. Bernardo.

“We look for ward to working with all of our stakeholders to further contribute to a cleaner energy future for Negros and for the Philippines as a whole.”

Once it qualifies for the Feed-in-Tariff, Sacasun’s

clean and renewable power output will get priority dispatch in the electricity spot market under the FIT rate for solar power at PHP 8.69/kWh. T h e c omp any pl ans to conduct a formal inauguration of the solar project in April.

The plant is expected

to generate more than 85 gigawatt hours of clean electricity a year, enough to power 27,600 homes.

This should help avoid the emission of more than 44,000 tons of carbon dioxide over 20 years—the equivalent of taking around 10,000 cars off the road.

The Php 4.9-bi l lion

project was funded with a mix of equity and debt from BDO Unibank.

SaCaSun is AboitizPower’s first foray into solar power.

The company is one of the country’s biggest producers of clean and renewable power through its portfolio of hydroelectric and geothermal power plants.

XU to honor environmental hero at commencement exercises For its 77th commencement exercises, Xavier University has chosen to bestow a Doctor in Humanities, honoris causa, on Rev Fr Edwin Gariguez, a Roman Catholic priest who champions the causes of the indigenous peoples and the environment.

As honorar y doctorate, Fr Gariguez will also deliver the keynote address at the University’s Academic Convocation on March 17.

A winner of the Goldman Environmental Prize, the world’s largest award for grassroots environmental activists, Fr Gariguez is a prominent figure against indiscriminate large scale mining in the Philippines. He is the Executive Secretary of CBCP-NASSA, the social development, humanitarian and advocacy arm of the Catholic Church in the Philippines. He is

Damulog Mayor Romeo Tiongco

also one of the convenors of Alyansa Tigil Mina, a countrywide coalition of organizations and individuals acting as a watchdog over violations in laws and policies related to the mining industry.

In 2009, Fr Gariguez led an 11day hunger strike with members of Alliance Against Mining to protest the dubious issuance of an Environmental Compliance Certificate to a Norway-based mining company and to demand the government to investigate the environmental and social violations of the mining project. Consequently, the Department of Environment and Natural Resources launched an investigation and revoked the mining firm’s permit, indefinitely putting a stop to the mine.

“The honorary doctorate is being conferred upon you in recognition of your life-long apostolate for and with the Indigenous Peoples intrinsically linked with caring for creation, our common home,” wrote Rev Fr Bobby Yap SJ, president of Xavier University, in his letter to Fr Gariguez. “Your ministry is an inspiring response to Pope Francis’ challenge “to hear both the cry of the earth and the cry of the poor.”

Further, “The vocation you have patiently and perseveringly pursued in the peripheries has truly been serving the faith that does justice and ecological stewardship. You are a true activist and scholar for the Indigenous Peoples and the Environment,” Fr Bobby’s letter

said.

About 1,800 graduates from the Graduate School, Law, Medicine, the undergraduate colleges of Arts and Sciences, Education, Business and Management, Agriculture, Engineering, Computer Studies, Nursing, and the Center for Integrated Technologies are expected to receive their diplomas during the three-day Commencement Exercises on March 17-19 at the University Gymnasium.

Other honorees Besides Fr Gariguez, two other distinguished individuals will be given recognition.

Damulog Mayor Romeo Tiongco will receive the Fr William F Masterson SJ Award for service to the community.

Tiongco is instrumental in bringing peace and order to the municipality of Damulog, Bukidnon, which for decades suffered from intermittent guerilla fighting among the military, militia groups and rebels.

He ran for mayor in 2007 outlining his campaign on the platform of peace and a demilitarized municipality to solve poverty. When he won, one of the first things he did was to embark on a peace journey from the town proper to Sitio Agong, the site of the heaviest fighting.

Tiongco ran again for mayor and won in 2010. He got re-elected for a third and final term in 2013.

Between those years, he became a

fellow of the Mindanao Bridging Leaders Program of the Asian Institute of Management, which helped him expand his program on peace and development to include justice. At the core of his agenda are the universal rights of children.

Meanwhile, Multimulti-awarded writer, actor, visual artist and poet Frank G Rivera will be this year’s recipient of the Fr Francisco R Demetrio SJ Award.

Rivera, also known as the “makata sa cellphone” for his notable “textula” series or SMS poems, is being recognized by the University for his outstanding contributions to Philippine culture and arts.

He founded the criticallyacclaimed Kambayoka Theater Ensemble of the Mindanao State University. He has also written several anthologies of dramatic scripts for stage, television, radio and film. He is a winner of three Palanca Memorial Awards for Literature, four National Book Awards, and a number of Aliw, Gawad, CCP and NCCA Awards, to name a few.

Rivera’s trilogy of “Makata sa Cellphone: mga dalit, diona, tanaga, at iba pang tulang sari-sari’t mga bersong sala-salabid” books earned him a National Book Award citation in 2005. His poems and “textula,” which won the 2014 Timpalak sa Pagsulat ng TexTanaga and 2014 Tulaan sa Facebook-Diyona, are recited during political rallies,

shared on social media, forwarded as text messages, and declaimed at school programs.

The awarding ceremonies for Tiongco and Rivera will also be held during the Academic Convocation of the graduating Class of 2016.

Fr. Gariguez

Frank G. Rivera

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SEC pushing to strengthen anti-money laundering law T HE Securities and Exchange Commission (SEC) is pushing improvements in the Philippine antimone y laund ering law a n d s t re ng t h e n i ng i t s enforcement in an effort to bolster the country’s capability to stop money laundering activities.

“I guess (we have to) expand the coverage of reporting entities. We also have to make sure that the AMLC (Anti-Money Laundering Council) has all the necessary powers to do its job,” SEC chairperson Te r e s i t a He r b o s a t o l d reporters on the sidelines of the conference on credit infrastructure on Monday.

Un d e r t h e A M L A of 2 0 0 1 , t h e c ou nt r y ’s financial intelligence unit AMLC is authorized to institute civil forfeiture and a l l ot her reme di a l proceedings, and cause the filing of complaints with the Department of Justice or the Ombudsman for the prosecution of money laundering offenses.

Herbosa, also a member of the AMLC, said there have been several amendments to the anti-money laundering law since it was passed

in 2001. However, other e nt it i e s h ave not b e e n included.

The SEC chief has been pushing for the inclusion of casinos in the list of covered institutions under the AMLA to prevent the facilitation of dirty money in the country.

The Philippines was one of the few countries in the world which had not included casinos in the list of institutions to report monetary transactions to the AMLC, she earlier said.

“Money laundering can only be stopped if everyone in the world cooperates. So we have to catch people who are engaged in that activity and one way of doing that is really to strengthen the laws of each countr y to conform to best practices,” Herbosa added.

Me anw hi le, Herb os a expressed optimism that authorities will recover some of the alleged $100 million in funds illegally taken by hackers from the account of Bangladesh Bank at a US bank and transferred into various local banks and casinos.

“I’m sure somehow, some of it will be recovered,” she said. “I believe in the justice

Republic of the Philippines SUPREME COURT REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE EJF File No. EJF-2016-014 Upon Extra-Judicial Petition for Sale under Act 3135 as amended, filed by HOME DEVELOPMENT MUTUAL FUND (Pag-IBIG Fund) with branch office at Pag-IBIG Fund Bldg., J.R. Borja St., Cagayan de Oro City, against MARICHU S. BUENAVISTA married to RAINIER M. BUENAVISTA, with postal address at c/o Runil Cotejar, Block 44, Lot 32, PN Roa Subdivision, Barra, Opol, Misamis Oriental, to satisfy the mortgage indebtedness which as of October 3, 2015, amounts to ONE HUNDRED FIFTY SIX THOUSAND EIGHT HUNDRED NINETY NINE PESOS & 61/100 (P 156,899.61) Philippine Currency, as mortgagor’s total indebtedness inclusive of interest and penalty charges, excluding other necessary fees and expenses of Extra-Judicial Foreclosure and Sale, the undersigned Sheriff-in-charge will SELL at Public Auction on MARCH 28, 2016 at 10:00 o’clock in the morning or soon thereafter, at the Tourism Hall, City Hall Compound, Cagayan de Oro City, to the Highest Bidder for CASH and in Philippine Currency, the real property mortgaged together with all existing and future improvements thereon, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-31382 Registered in the name of MARICHU S. BUENAVISTA “ A PARCEL OF LAND (Lot 30, Block 01, Pcs-10-002470, being a portion of Lots 1 to 20, Block 28, 1 to 21, Block 29, 1 to 20, Block 43, 1 to 20, Block 44, all of Psd-10-020903).

Situated in the Barangay of Barra, Municipality of Opol, Province of Misamis Oriental, Island of Mindanao. Bounded on the x x x. Beginning at x x x; containing an area of Sixty (60) Square meters, more or less” Prospective Buyer/Bidders may investigate for themselves the title herein above described and encumbrance thereof, if any there be.

In case March 28, 2016 will be declared holiday or nonworking day, the Public Auction Sale shall automatically be held on March 30, 2016 without further notice publication and posting.

Cagayan de Oro City, February 23, 2016

FOR EX-OFFICIO PROVINCIAL SHERIFF BY:

(Sgd.) JOSEPH C. MAAGAD

Sheriff IV BWM: March 2, 9 & 16, 2016

system.”

Further, Herbosa believes that such money-laundering case will not affect the image of the country.

“Not all countries have the same level of progress when it comes to passing all these anti-money laundering laws. I would

say the Philippines is almost there on the top tier because we practically passed this in 2001 and then it has been 15 years we have done more

amendments. So I doubt if you would say that we are that severely lacking on anti-money laundering measures,” she added.

TWO MORE rural banks were ordered closed by the Bangko Sentral ng Pilipinas (BSP) last week, bringing the number of shuttered lenders for the year to six.

Through Circular Letters 2016-020 and 2016-021, the central bank announced that the Monetary Board ordered the closure of the Rural Bank of Panay, Inc. in Capiz and the Koronadal Rural Bank, Inc. in South Cotabato after they were found unviable to sustain their operations.

The Rural Bank of Panay is led by its chairperson Ofelia

B. Acuña, and has two bank offices within the province.

The Koronadal-based lender, meanwhile, has three offices and is led by president and director Mark S. Oropeza, a check with BSP records showed.

As practiced, the Philippine Deposit Insurance Corp. has been assigned to take over the two provincial banks as receiver.

Under the law, all bank deposits are covered by a maximum insurance of P500,000. The state-run insurer will then take on

the task of liquidating remaining bank assets to pay off liabilities to its depositors.

As the regulator of banks, the BSP may order the closure of problem lenders especially if they are found without enough liquid assets to cover their liabilities or have turned incapable of sustaining their operations without causing losses to depositors.

The central bank shut down 14 rural banks in 2015.

Apart from the two banks ordered closed last week, the Monetary Board earlier closed down the Rural Bank

of Basay, Inc. and the Rural Bank of Bayawan, Inc. in Negros Oriental; the LapuLapu Rural Bank, Inc. in Carcar, Cebu; and the Rural Bank of Villaviciosa, Inc. in Abra.

The BSP has been lobbying for small lenders to consolidate in order to gain strength and scale under the Consolidation Program for Rural Banks announced last year, which runs until Aug. 25, 2017. The program allows a group of at least five provincial lenders to apply for banks/PAGE 11

BSP closes 2 more rural banks

ADB raises $3-B in funds via 5-year bonds THE ASIAN Development Bank (ADB) has raised $3 billion through the issuance of five-year global benchmark bonds.

In a statement issued Wednesday, the Manilabased multilateral lender announced its return to the US dollar bond market to augment its ordinary capital

resources and fund nonconcessional operations.

“This is another stellar outcome for ADB against a challenging market backdrop that has prevailed since the beginning of 2016,” A D B Tre a s u re r P i e r re Van Peteghem said in the statement.

The five-year bonds have

a coupon rate of 1.625% per annum payable semiannually and matures on March 16, 2021. They were priced to yield 31.35 basis points over the 1.125% US Treasury notes due February 2021.

“Strong demand for the transaction allowed us to size a $3-billion new issue

vertical home builders enterprises Patag Highway, Cagayan de Oro City

Tel. No. 858-5789 / Fax No. 850-5020; Cel. Nos. 0919-655-3754, 0923-304-2676; Email: verticalhomebuilders@yahoo.com

Dealer of hardware and construction materials: Product Lines: - Angle Bars - Gl Pipes - C-Purlins - Holow Blocks - Coco Lumber - Carrying Channel - Double Furring Channel - Single Furring - Acoustic Board - Polycarbonate - Power Tools - God Lumber S4S - Panel Doors - PVC Laminated Panel - PVC Vertical Blinds - Roller Blinds - Wooden Blinds

- Armstrong Vinyl Tiles - Kent Vinyl Tiles - Parquet Tiles - Apo Vinyl Tiles Distributor & Dealer of: - Steel Bars - Holcim Cement - Davis Paint - Sand & Gravel - Plywood - INdustrial Supplies - Finishing Supplies - Electrical Supplies - Power Tools - Air Compressors

in line with our strategy of pricing the market with liquid benchmark bonds across the curve,” Mr. Peteghem said.

The issue s aw w i d e primary market distribution, with 46% of the bonds placed in Asia, 29% in Europe, Middle East and Africa and 25% in the Americas.

Central banks and official institutions subscribed to 58% of the bonds offered, banks took 29% and fund managers and other investors bought the remaining 13%.

“We are pleased by the broad participation across geographical regions from the investor community, which is itself a testament funds/PAGE 11 EXTRAJUDICIAL S E T T L E M EN T OF THE ESTATE OF THE DECEASED EDGARDO B. JUSTO WITH SIMULTANEOUS WAIVER OF RIGHTS Notice is hereby given that the intestate estate of the Late EDGARDO B. JUSTO who died on August 17, 2001, left a parcel of land situated in the Barrio of Barra, Municipality of Opol, Province of Cotabato, Island of Mindanao and which property described as follows; TCT NO. T-25787 containing an area of ONE HUNDRED FORTY (140) square meters more or less is the subject of EXTRAJUDICIAL SETTLEMENT OF THE ESTATE OF THE DECEASED E D G A R DO B . J U S T O WITH SIMULTANEOUS WAIVER OF RIGHTS that for and in consideration of her LOVE & AFFECTION to her son, JERRICK R. JUSTO, MARICHU E. JUSTO, the mother, does HEREBY CEDE unto the said JERRICK R. JUSTO, his heirs and assigns, her conjugal share in the abovedescribed property, free from any liens and encumbrances.

Under Notary Public of ATTY. ALBERT T. ERAMIS per Doc, No.492; Page No. 99; Book No. CXIII; Series of 2005.

BWM: March 2, 9 & 16,2016

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Agus...

Closed...

Aboitiz...

Glimpse...

“With the cooperation from all stakeholders to r e s t o r e To w e r No. 2 5 , Mindanaoans have again enjoyed about 80 megawatts of che ap er and cle aner p ower supply f rom t he Ag u s p l a nt s . T h i s w i l l s u b s t a nt i a l l y r e s u l t i n reduction of rotating brownouts in the affected areas,” Energy Secretar y Zenaida Y. Monsada said.

Agus 1 and Agus 2’s combined capacity is 260 megawatts but due to low water levels in Lake Lanao it could only supply 80 MW. M i n d a n a o’s m a j o r sources of power are the Agus and Pulangi hydrop ower complexes.

Agus has seven plants and Pulangi has four others for a combined installed capacity of 982 MW. Monsada, who chairs the task force, called for the support of all stakeholders in ensuring the maintenance of integrity and reliability of all energy assets that are “vital public assets.”

The task force, comprised of DOE as head, National Transmission Corp., NGCP, Mindanao Development Authority, Armed Forces of the Philippines, Philippine National Police, Department of Interior and Local Government, National Power C orporation, D e p ar t me nt of Just i c e, a n d L a n d R e g i s t r at i on Authority, was formed last Feb. 4.

Its task is to address the series of attacks on transmission towers of the NGCP and right-of-way claims in areas where power facilities stand.

“The IATFSEF remains keen in upholding public interest as priority in all of its action plans, especially to prevent untoward incidents from happening again that may compromise not just the energy facilities, but the lives and welfare of the people,” the statement read.

The task force will also clear the trees, infrastructures, and any obst r uc t ions under t he t r ans m iss i on f a c i l it i e s , following the issuance of Resolution No. 10067 of Commission on Elections to avoid ROW issues from happening again that might cause power problems on May 9, election day.

In a separate statement, the NGCP said: “We are v e r y p l e a s e d w it h t h i s d e v e l opm e nt . We h av e been poised and ready to restore the facility as soon as it was toppled. All we needed was access to the property. With the court issued injunction, we were given legal cover to access the transmission facilities and begin restoration.”

Nineteen transmission towers were attacked in 2015, of which 16 were toppled, according to NGCP. (Antonio L. Colina IV/MindaNews)

BIR regional director Glen Geraldino said the proprietor of the two branches of Cagayan Diamond Hardware had accumulated a tax deficiency, including penalty, amounting to almost P900,000. “ The est ablishments have violated our tax laws.

First, unregistered delivery receipts and, second, underdeclaration of taxable sales of more than 30 percent, actually 106 percent. So, under the law, they will b e t e mp o r a r i l y c l o s e d until such time they are going to comply with their obligations, including, of course, the payment of taxes,” Geraldino said.

It was learned that the under-declared gross sales of the Cagayan Diamond Hardware and Auto Supply reaches P4.2 million.

Geraldino, accompanied

by Asst. Regional Director Nuzar Balatero, personally served the closure order with the assistance of the local police.

G e r a l d i n o s ai d t h at Cagayan Diamond Hardware a n d Au t o Su p p l y, h a d been found to have used unregistered deliver y receipts, which is a clear violation of Section 238 of the Tax code; that the book of accounts maintained by it is not updated or no entries made thereon more specifically on Columnar Sales Books, section 232 of the Tax Code; and that the said taxpayer failed to notify the Bureau in connection with the closure of one of its branches within the time prescribed by law (Section 236 of the Tax Code), and that the branch issued sales invoices in t he branch intended for the exclusive use of the main office.

The Regional Of f ice Review Board, in a resolution, h a d re c om m e n d e d t h e i ssu anc e of a 4 8 - Hou r Notice to afford the said establishment a show cause order why they should not be dealt administratively, by suspension of business or temporar y closure of their establishments, and/ or criminally, for violation of Section 115 of the Tax Code.

According to Geraldino the explanation by the owner, Mr. Caminse, was denied for lack of merit.

“This is also a reminder to taxpayers that the filing of our income taxes was ongoing unt i l Apr i l 15 and with no extension,” Geraldino said.

He also warned those who are under-declaring their taxable sales that they will be held liable under Oplan Kandado, which is a continuous tax mapping program of the bureau.

The closure of the two hardware stores br ings t o s i x t h e nu m b e r o f establishments padlocked by the BIR regional office here for tax deficiency and other violations.

R e n e B . R o n q u i l l o, He d c or pre s i d e nt , s ai d they are now conducting a feasibility study to assess the hydropower potential in the area within the town of Kitaotao.

T h e p r o j e c t , M r.

R onqui l lo s aid, is p ar t of AboitizPower’s plans to increase its renewable energy portfolio, currently at 914.5 MW. Of the total amount, 484.5 MW are hydroelectric and the rest are geothermal.

He d c or i s c u r re nt l y building a 68.8-MW hydroelectric project in Manolo For t ich and Impasug-ong, both in Bukidnon.

M r. R o n q u i l l o s a i d they are aiming to have the P12.5-billion facility operational by the first quarter of 2017.

“We hope to help provide (more) renewable power to the people of Mindanao,” said Mr. Ronquillo. Another AboitizPower subsidiary, Aboitiz Power Renewable, Inc., is undertaking exploration in a 20,000 hectare area within the Mount Apo National Park for a geothermal project.

Manuel M. Orig, AboitizPower first vicepresident for Mindanao, earlier told BusinessWeek Mindanao that the company will pursue t he projec t construction once there is a probability of generating at least 50% of the 200 MW proposed capacity.

He d c or has e x ist i ng hydroelectric power plants in Davao City and in Sibulan and Tudaya in Davao del Sur. L ast Fr iday, anot her AboitizPower subsidiary, S a n C a r l o s Su n Pow e r ( S a C a Su n ) , an n ou n c e d the completion of its 59MW solar power project in San Carlos City, Negros Occidental, which is planned for commercial operation by April.

The company said it was able to complete the P4.9billion project before the March 15 deadline set by the Department of Energy for power developers to avail of the guaranteed tariff for each kilowatt-hour of electricity fed into the grid.

“The plant is expected to generate more than 85 gigawatt hours of clean electricity a year, enough to power 27,600 homes.

This should help avoid the emission of more than 44,000 tons of carbon dioxide over 20 years -the equivalent of taking around 10,000 cars off the road,” SaCaSun said in a statement.

The company is awaiting its feed-in tariff rate approval, with output rate to the grid planned at P8.69 per kilowatt-hour.

The project, undertaken in partnership with Su n E d i s on P h i l ippi n e s Helios BV, is AboitizPower’s first foray into solar energy.

new adventure rock climbing and rappelling in Quezon, Bukidnon.

The launching started with a ribbon cutting by DTI, DOT, SM and provincial government of Bukidnon. A ritual from one of the tribes of Bukidnon was performed to start the program and various singing and dancing and tribal performance was made by the Bukidnon State University chorale to drumbeat the trade fair held on 9-13 March inside the mall. (JMOR/PIA10)

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ARMM... from page 2

registration of the P1.3 oilpalm plantation project of Gintong Agri, Inc. in Datu Odin Sinsuat, Maguindanao.

T h e bu s i n e ss g roup comprises officials of the Promotion of Investment Sustainability Organization (PISO), the Metro Cotabato Chamber of Commerce and Industry, Muslim Chamber of Commerce and Industry of Kutawato, the Bangsamoro Business Club, and big business investors in the region, such as Lamsan Corn Starch factory, Agumil Oil Palm Milling, Unifrutti B anana Plant ation and Matling Cassava Starch Milling.

PISO is the organization of all RBOI-registered firms co-convened with RBOI by Edgardo Bullecer of the Unifrutti Group, one of the biggest foreign investors in the ARMM with its P3.7 billion Cavendish banana project in Maguindanao.

Also at hand to welcome Ambassador Reichlin was Cotabato City Administrator Dr. Danda Juanday, former Bangsamoro Development Agency chairman, an active civil society and business leader and proponent of peace and development in the region.

It w as t he Sw iss ambassador’s first visit to the region. She was accompanied by the Swiss embassy’s Human Security advisor and First Secretary Martina Schmidt.

RBOI chairman Mastura said the ARMM regional government and the Bangsamoro people are grateful to the government of Switzerland for its active support to peace and development, particularly in sponsoring the Transitional Justice and Reconciliation Commission, a body established in the peace negotiations between the government and the Moro Islamic Liberation Front.

Based on latest government data, there are an estimated 60 Swiss companies operating in the Philippines employing around 12,000 people. The biggest and most well-known among the Swiss brands in the country is food conglomerate, Nestle, which has been operating in the Philippines since 1911.

Relations with the Philippines were established

in 1862, when Switzerland opened its consulate in Manila. Bilateral trade in 2014 stood at an estimated US$557 million.

The two governments concluded on March 3 their 7thpolitical consultations in Berne, the capital of Switzerland, in preparation for the 2nd Session of the Philippines-Switzerland Joint Economic Commission, which will take place in April this year. (BPI/APB/PIA-10)

Flight... from page 3

ways to travel whether it’s for business or pleasure. Guam is the closest US destination from Asia, and serves as the gateway to Micronesia and other regions of the world. We look forward to partnering with Cebu Pacific in promoting tourism and our island paradise.”

The Manila-Guam service leads CEB on another expansion path across the Pacific, further boosting a network that now spans over 90 routes on 64 destinations.

Aside from Guam, CEB also operates flights to Sydney, Japan, Korea, Dubai, and Doha, among others.

For bookings and inquiries, guests can visit www.cebupacificair.com or call (+632)7020-888 or (+6332)230-8888. The latest seat sales can be found on CEB’s official Facebook and Twitter pages. Guests may also download the Cebu Pacific official mobile app on the App Store and Google Play.

Cebu Pacific’s 57-strong fleet is comprised of 8 Airbus A319, 35 Airbus A320, 6 Airbus A330, and 8 ATR 72-500 aircraft. It is one of the most modern aircraft fleets in the world. Between 2016 and 2021, CEB expects delivery of three more brandnew Airbus A320, 30 Airbus A321neo, and 16 ATR 72-600 aircraft.

Hurst... from page 4

our Maker. Then, we can start living His successful and satisfying way.

So today, won’t you ask Jesus to forgive you for living your own way? Then ask Him to start changing your heart and lifestyle. He’s the only One Who can finally fill your life with the pleasure and peace of mind you’ve been looking for. Jesus will give you real satisfaction that lasts, not just for a day or a night, but for the rest of your life. Just Think a Minute…

Filinvest... from page 7

position as the biggest mall in southern Metro Manila.

The Il Corso lifestyle strip, a retail project in South Road Properties in Cebu, will contribute a GLA of around 35,000 sqm when fully completed. FLI has commenced the construction of malls in Tagaytay City and at its Princeton Heights

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residential project in Cavite.

FLI registered an operating regular net income of P5.12 billion last year, up 11% from P4.61 billion, supported by a 7% uptick in consolidated revenues to P16.53 billion from P15.47 billion.

Real estate sales rose 6.4% to P14.05 billion in 2015, while rental revenue climbed 9.7% to P2.48 billion.

FLI has secured longterm lease deals for two large chunks of land in Clark, Pampanga: the 201.64-hectare Mimos a L eisure Est ate property and the 288-ha section of Clark Green City.

FLI is a subsidiary of Filinvest Development Corp., the holding firm for the Gotianun family’s businesses in banking, hotel, power, and sugar farming and milling.

Del Monte... from page 7

Group Chief Executive Officer Joselito Campos, Jr. was quoted in the statement as saying.

“We are reviewing our strategy for these channels as part of our long range plan to optimize sustainable sales and profits for the company in the coming year,” he added.

Del Monte Pacific’s ninemonth net income reached $41.9 million -- turnaround from the $23.9 million loss last year -- buoyed by a onetime favorable adjustment of $23.4 million after tax due to DMFI’s retirement plan amendment in the second quarter.

Banks... from page 10

a merger in order to boost its financial standing given their combined assets and capital. They may also seek help from the government for additional funding to hit a risk-based capital adequacy ratio of at least 12% and a combined unimpaired capital of at least P100 million, as required under the program.

BSP Deputy Governor Nestor A. Espenilla, Jr. said last week that authorities are still discussing how to revive the Strengthening Program for Rural Banks first launched in 2010 and extended until 2015 by possibly “folding it in” to the current CPRB.

Funds... from page 10

to the institution’s robust credit fundamentals and loyal global following in the capital markets,” Mr. Peteghem said in the statement.

The transaction was leadmanaged by international banks Citi,JPMorgan,NomuraandRBC Capital Markets. It also involved a syndicate group comprising Bank of America Merrill Lynch, Bank of Montreal, BNP Paribas, Daiwa Securities, DBS Bank, Deutsche Bank, Goldman Sachs, HSBC, Mizuho International and Morgan Stanley.

The Japan-led multilateral lender, which counts the Philippinesamongits67members, plans to raise around $20 billion from the capital markets this year.

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Filinvest One Oasis Cagayan de Oro:

Most affordable condo now turning over first units to owners F ilinvest’s flagship project in Cagayan de Oro may be one of the last to launch among the condominium projects in downtown Cagayan de Oro but it will become the first to turn over finished units to home owners this Saturday, March 19, 2016.

That’s when the first 60 lucky homeowners get to move into their units at Building 1 of the One Oasis Cagayan de Oro, the first Asian Balinese themed condominium with resort-styled amenities located at Barangay Lapasan.

Although the first units have already appreciated eight percent in value since they first went on sale, prospective owners will be happy to discover they still remain to be the most affordable condos in downtown Cagayan de Oro!

Laundry Cages in One Oasis Bldg 1

“Yes, at an average price of only PhP 83, 000.00 per square meter, One Oasis Cagayan de Oro is the most affordable condominium you can buy in downtown Cagayan de Oro nowadays,” said Ara Solidum, Filinvest Northern Mindanao Area General Manager.

“You can compare us with similar projects within the immediate vicinity downtown and be delighted to find out you get so much return on your investment now (rather than wait for years for units to be available).”

Not only that. “Getting financing for your dream home is easy with no less than almost all major banks and Pag-IBIG accrediting our project,” says Franz Josef Ll. Enriquez, Filinvest CDO branch manager.

Terms are even more reasonable: you only have to put in as low as 10 percent equity and you can have the 90% balance condo/PAGE B2

Dream Home Festival highlights March 19 Turnover Ceremony Cagayan de Oro’s first mid-rise, resort-inspired condominium with its showcase Asian-Balinese motif becomes the first downtown condominium to turn over its first units to home owners later this week.

Building 1 of Filinvest’s flagship project in Northern Mindanao, One Oasis Cagayan de Oro, will turn the first 60 units of the seven storey building at the project site in Macajalar Road, Bgy. Lapasan, Cagayan de Oro City during a simple turnover ceremony turnover/PAGE B2

One Oasis CDO Bldg 1 Basement Parking

One Oasis Clubhouse Bldg.

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e-learning startup Quipper launches in Cebu, eyes partnerships with schools transitioning to K-12

With the full implementation of the K-12 program this June with onset of the additional 2-year senior high school program, an education technology company out to improve the teaching and learning experience is now offering its services in Cebu.

Yuki Naotori, Country Manager of Quipper, said the launching at Tisa Elementary School, which is plagued by many of the same challenges besetting high schools nationwide, exemplifies the company’s vision for a world where everyone has easy access to quality education.

“This year is a pivotal one for Philippine education, with an estimated 1.2 to 1.6 million students beginning grade 11 in June. By providing excellent, K-12 aligned content on a platform that helps teachers streamline their teaching methods and class management while simultaneously providing students with an engaging yet effective learning experience, we hope to make this transition easier for both public and private schools in

Cebu and the rest of the country,” said Naotori.

To access the platform and content, teachers need to sign up at school.quipper. com, register their school, then invite their students to create accounts and join their class.

Once students have signedin, teachers can send assignments or exams and communicate with students via the platform’s messaging system.

Educators are also able to upload their own content and access analytics on their students’ performance. The platform is gamified, so students get instant feedback upon answering, and earn ‘coins’ for correct answers, which they can use to ‘buy’ desktop wallpaper for their Quipper account.

The use of Quipper School and all its features is free of charge.

Founded by Masayuki Watanabe in London in 2010, Quipper is a member of the global conglomerate Recruit Holdings, which consists of 162 consolidated subsidiaries and generates $13 billion in annual sales. It opened its

Makati office in the Philippines in 2014.

Today, Quipper is eyeing local partnerships with schools in Cebu City and Cebu Province. “We are currently partnered with 33 DepEd divisions and 310 schools nationwide.

Through these partnerships, we’ve provided muchneeded assistance to schools aiming to create the most effective learning environment for 21st century learners,” said Quipper’s Country Manager.

Quipper’s efforts are bolstered by the preliminary research findings of a commissioned study suggesting that students with consistent or even intermittent exposure to Quipper School are more likely to gain better scores, higher passing rates, and higher attendance rates.

Dr. Ferdinand Pitagan of the University of the Philippines conducted the said research in a sample of 4 schools representing each DepEd district in the National Capital Region (NCR).

Three Grade 7 Math classes for each school with different levels of exposure to Quipper School took part in the study.

To help schools implement Senior High School, Quipper will be offering the following content for Grade 11 starting June 2016: Oral Communication, Reading and Writing, 21st Century Literature from the Philippines and the World, Komunikasyon at Pananaliksik sa Wika at Kulturang Filipino, Pagbasa at Pagsusuri ng Iba’t Ibang Teksto Tungo sa Pananaliksik, General Mathematics, Statistics and Probability, Earth and Life Science, Understanding Culture, Society, and Politics.

As part of its preparations for senior high school, Quipper is also planning to launch a premium video service at the beginning of school year 2016-2017 to provide more comprehensive content and an improved learning experience for Grade 10 and 11 students.

As of September 2015, almost one million students in the Philippines, majority of which are from public high schools in the NCR, are registered with Quipper School.

Over 1,400 schools from 165 divisions nationwide

are using Quipper, including Dagupan City, Legazpi City, Lucena City, Cavite, Mountain Province, and Nueva Vizcaya outside of the NCR

Condo... from page B1

financed up to 20 years with the partner banks. And for those thinking of investing their savings in a unit for rental or resale, you can already start getting some returns on your investment immediately after full payment of your equity.

One Oasis Cagayan de Oro will eventually have about 1,300 units in five medium-rise condominium buildings.

Each condominium building has seven to eight floors of residential units and a roof deck cum laundry area, two elevators for the residential floors and strategically located stairways, connecting all levels.

Each 2 bedroom and 1 bedroom residential unit comes with a balcony and laundry cage for drying. Parking slots for residents are available for sale on a first come, first served basis.

For more details, please visit Filinvest office at the ground floor, Bo’s Café Bldg., Don A. Velez St., 9000 Cagayan de Oro City or contact 0917-3058888 or check its official page at facebook.com/ oneoasis.cagayandeoro.

Turnover... from page B1

Saturday, March 19, 2016 However, the simple turnover ceremony scheduled to start at 4PM will be preceded by a day-long Dream Home Festival for prospective

as well as Bacolod, Dumaguete, and Silay City in the Visayas, and Tandag, Iligan and Zamboanga in Mindanao.

home owners starting 9:00AM with a Grand Open House Unit Viewing.

Families searching for their dream homes not only get to select their choice from the available units in Building 1, but get the chance to furnish and finance them as well!

A Home Design Expo will run concurrently with the Open House where prospective home owners get to meet interior designer/ contractors; furniture & fixtures, appliance & pest control suppliers at the One Oasis Clubhouse to help bring your dream home to reality!

Once you’ve selected the unit of your choice and contracted for its interior decoration and furnishings, you can proceed to the Home Loan & Investments desk nearby where you can get fast and easy financing and approvals for your dream home with our One-Stop-Shop on your home loan application with partner banks and Pag-IBIG! Not to forget investors looking to get a better return on their investments through the high value, location advantaged One Oasis units, our partner Pro Excel is ready to advise you on how to get a good return on your units’ rentals or resale.

For more details please visit Filinvest office at the ground floor, Bo’s Café Bldg., Don A. Velez St., 9000 Cagayan de Oro City or contact 0917-3058888 or log in to www. filinvest.com.ph

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