BusinessWeek Mindanao (March 15, 2017)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 125

Market Indicators

As of 5:00 pm March 14, 2017 (tuesday)

FOREX

PHISIX

US$1 = P50.297

7,280.04

5.2

X X Briefly

cents

46.95 points

Facility improvements IN its continuing pursuit of upgrading and strengthening the country’s power transmission network, National Grid Corporation of the Philippines (NGCP) is poised to undertake several major facility improvement programs this year.

“When we took over, it was very clear to us that upgrading and improving the failing and aging facilities we inherited from the National Transmission Corporation (Transco) was top priority. At the time this concession was bid out, many of the transmission facilities already reached, or were about to reach its maximum economic life. It was very clear to us that government could no longer continue to fund the massive transmission related projects needed to ensure that the transmission facilities remained relevant, up to date, and able to address the pressing needs of a growing economy,” the company said.

“NGCP has built 2,472 circuitkilometers (ct. km.) of transmission lines since we took over. This year, 24 transmission projects are set to be completed, 26 are in the middle of construction, and 22 projects will commence. In total, that’s an additional 674.9 ct.km. of lines to be added to the country’s transmission network for 2017 alone,” the company stressed.

Data privacy roadshow THE Department of Information and Communications Technology (DICT) Mindanao Cluster 2 held this month in Cagayan de Oro City its Data Privacy Roadshow in collaboration with the National Privacy Commission (NPC).

Dondi Mapa, Deputy Privacy Commissioner of NPC said that Republic Act 10173 or Data Privacy Act of 2012 is the policy state to protect the fundamental human right of privacy, of communication while ensuring free flow of information to promote innovation and growth.

According to him, data is the new oil of the digital economy. For instance, identity thieves can get a loan, open credit cards, open utility accounts, apply for a refund, apply for employment, get medical care and commit crime or fraud. On the part of the victims, they can get denied of credit/loans, denial of public service, denial of medical care and harassment by collectors, among others.

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WESM seen to improve Mindanao power woes www.businessweekmindanao.com

Wednesday | March 15, 2017

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By DARWIN WALLY T. WEE, PNA

AMBOANGA City -- The overall power condition in Mindanao is expected to improve with the establishment of the Wholesale Electricity Spot Market (WESM) in June, a government official said.

“The primary objective of establishing WESM in Mindanao is to promote transparency and efficiency in the power (sector) since all the data such as demand, supply, pricing, connectivity, and others will be made

available in real-time at WESM’s website,” Glenn Jay Reston, technical head of the Mindanao Development Authority’s (MinDA) power development program, told the Philippines News Agency power/PAGE 11

Landbank Davao targets 5% loan portfolio growth

By CARMELITO Q. FRANCISCO, Correspondent

MACARTHUR ARRIVES. Actors reenact on Monday, March 13, 2017 the arrival of American General Douglas MacArthur, his staff and family at the Macabalan port in Cagayan de Oro City after escaping from the Japanese-surrounded Corregidor 75 years ago. MacArthur proceeded to Del Monte Field in Barangay Dicklum, Manolo Fortich town in Bukidnon from where he flew to Australia on March 17, 1942 and there gave his famous “I shall return” oath. MIndaNews photo by FROILAN GALLARDO

CEB resumes daily operations in Surigao C E BU Pa c i f i c A i r h a s resumed its regular flights to and from Surigao City starting March 11 with two daily flights via Cebu, the first departing at 10:25am, and the second at 01:35pm.

Cebgo, a wholly-owned subsidiary of Cebu Pacific Air, resumed the operations following a thorough assessment of the Surigao Air por t r unway, which had been damaged after a magnitude 6.7 earthquake

struck the city last February 10, 2017. The Civil Aviation Authority of the Philippines (CAAP) had earlier released a Notice to Airmen (NOTAM) restricting operations at the Surigao Airport after the quake partially damaged the 1700-meter runway. CAAP noted then that repairs may take between 28 to 30 days.

“After assessing the repairs done on the Surigao Airport runway, we have determined that we may resume safe flight

operations. We laud CAAP for its expedient action to restore the runway after just 12 days of repair. We are very pleased to once again be of service to everyJuan in the City of Island Adventures,” said Atty. JR Mantaring, CEB Vice President for Corporate Affairs.

“We would also like to extend our appreciation to our valued passengers for their utmost understanding. resumes/PAGE 11

DAVAO City -- Governmentr un L and B an k of t he Philippines’ (Landbank) D avao L ending C enter expects to increase its P12billion portfolio in 2016 by at least 5% this year, with the boost to come by way of new clients primarily from the agricultural sector and

start-ups.

Land Bank of the Philippines’ Davao Lending Center wants to ramp up its loans. -- BW FILE PHOTO C harl otte I . C ond e, Landbank vice-president and loan center head, told BusinessWorld in an interview loan/PAGE 11

BACK TO NORMAL. Cebu Pacific Air resumed its regular flights to and from the earthquake-damaged Surigao City.

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Economy

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ARMM opens ‘Bangsamoro Week of Peace’

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OTABATO City -Regional Governor Mujiv Hataman of the Autonomous Region in Muslim Mindanao (ARMM) on Monday reminded the Bangsamoro people not to forget the bloodshed and sacrifices made by their

forebears in the quest for genuine peace in Mindanao.

Hataman made the call as he led the opening today of the Bangsamoro Week of Peace (BWP) at the ARMM compound here.

Now on its sixth year, BWP’s opening program

Cag. de Oro declares Mar. 13-17 as ‘Gen. MacArthur Week’ THE local government of Cagayan De Oro City on Monday declared March 13-17 every year as “Gen. Douglas MacArthur” week to commemorate the 75th year of MacArthur’s historic arrival here on his way to Australia.

The declaration of the “Gen. Douglas MacArthur”

week became official during to day’s reenac tment of MacArthur’s arrival at the Macabalan Port here.

The reenactment depicted local actors acting as MacArthur’s militar y contingent and his family as he disembarked at the Macabalan port, part of macarthur/PAGE 11

was par ticipated in by representatives and major stakeholders in the struggle for peace in the ARMM. This year’s theme is “Bangsamoro: Revisiting the Past, Continuing the Cause.”

Hataman said it is only through remembering the previous struggles of the Bangsamoro that today’s generation can be empowered to continue the cause to achieve lasting peace in this part of the country.

“Mahalaga na alalahanin natin at ipagpatuloy natin ito hanggang sa magkaroon ng ganap ng kapayapaan (It is important to remember the struggle of our forefathers and we must continue it until peace is achieved),” Hataman said.

Sp e a k i n g b e f ore a n

audience also made up of mi lit ar y and p olice officers, members of Moro rebel groups, indigenous peoples representatives and peace advocates, Hataman also called for unity and cooperation among the different sectors in the region to continue the reforms and changes that the regional government has introduced since he became governor.

He said the tri-people of the Bangsamoro must also continue the fight against poverty and terrorism.

Amir Mawallil, executive director of the Bangsamoro

Youth Affairs (BYA), said that teaching the youth the history of the Bangsamoro is crucial in developing their consciousness.

“Aside from that, an awareness of Bangsamoro history is also crucial to the success of the long-standing peace efforts involving the Bangsamoro,” Mawallil said.

He called on the younger generation to play major roles in peace building, citing they can be an instrument for peace by knowing history.

“Their every action must be rooted in something bigger than themselves, they

should know the Bangsamoro history,” he said.

The week-long celebration will highlight photo exhibit, stage plays, fora and conferences to be held in the provinces of Maguindanao, Lanao del Sur, Basilan, Sulu and Tawi-Tawi.

The BWP is celebrated every second week of March to commemorate the Jabidah Massacre, the pivotal point of Bangsamoro struggle.

The Jabidah Massacre refers to Moro recruits trained to fight for the reclamation of Borneo but massacred in Bataan. (PNA)

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Department of Agriculture – Regional Field Office 10 (DA-RFO 10) through the Livestock Program spearheads a writeshop for the 2016 Broiler Situation Report in Northern Mindanao on March 9, 2017, held in the city of Cagayan de Oro. Members of the Livestock and Poultry Information and Early Warning System (LPI-EWS) project team gathered to solicit comments and suggestions regarding the situation report which aimed to present information on the broiler industry situation in the region.

The handbook will then be distributed to local government units (LGUs), private agribusiness sector, stakeholders and farmers. The members of LPI-EWS include the Philippine Statistics Authority (PSA), National Meat Inspection Service (NMIS), National Veterinary Quarantine Service (NVQS) and the provincial and city veterinary offices of Region 10. The project team is also finalizing their 2016 swine situation report and is set to produce handbooks for other commodities such as cattle and duck this year.

(AMBManto, DA-RFO 10)

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Opinion

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High school reunions: how crushes, puppy loves, look now

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

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Who Does He Think He Is? Think a minute…Have you ever wondered what the big deal is about Easter and this man Jesus Christ? Who exactly was He? People who don’t even like Him still agree that Jesus Christ taught and lived the highest standard of love and morality the world has ever known. But what made Him so different from all the other religious teachers and prophets, so that the world’s calendar centers on this one man’s birth?

Remember, Jesus said that He’s the One Who has the authority to forgive people’s wrongs and sins. Jesus said that He’s the One Who will judge every person in the world when they die. Jesus even claimed He’s the Lord over death and the Creator of all life. So Who does this man think He is? God? Exactly! And He proved it.

When He gave His innocent, perfect life for the wrongs of mankind, was buried for 3 days, and then came back to life! Only God Himself has the power to create life from death.

So what about other prophets and teachers who came after Jesus with new revelations, teachings and books they claim are also from God? Jesus very strongly warned us that any person

THINK

A Minute

Jhan Tiafau Hurst who adds another teaching or book to the Bible, Jesus said that man is a liar and His teaching or book of revelation is not true. Because nobody, not even a priest or prophet, can add anymore to the revelation, teaching, and truth of God Himself in the Bible. Jesus warned we should never believe or follow these false prophets and religions, even if they call themselves a Christian church or followers of Jesus Christ.

You may be thinking: “Ok, if Jesus is God and the Only One Who can forgive all my wrongs, so what? What’s that to me?” Well, Jesus has everything to do with your life—both now and after you die. What we do with Jesus in our life now decides what He Hurst/PAGE 11

LIFE’S INSPIRATIONS: “…

Therefore I want the men everywhere to pray, lifting up holy hands without anger or disputing…” (1 Timothy 2:8, the Holy Bible).

-ooo EXCITEMENT IN THE NRMC MARCH 25, 2017 HOMECOMING: In a few days from now, those who graduated between 1950 to 1998 from the Dr. Nicanor Reyes Memorial Colleges High School Department in Paniqui, Tarlac will be having their first-ever grand alumni homecoming.

The homecoming is scheduled on March 25, 2017, Saturday, with daylong parade and other activities, including a medical-dental mission

by C l a s s 1 9 7 3 at t h e Amor Village, a home for mentally-handicapped children, and is to be capped with a “fellowship night” on that day at the P l a z u e l a of B a r a n g ay Estacion.

I am a grateful graduate of that institution’s high s cho ol dep ar t ment in 1973, and it would be an understatement for me to say, “I am looking forward to that event”. In reality, I am greatly excited to be in that affair, God willing, and it is not only because I am going to see long-lost friends and classmates once again, after long years of

not having seen them.

It is more because of the fact that almost all of us who finished our s e c on d ar y c ou r s e s i n NRMC in 1973 are now senior citizens who have either retired from work, whether in the government or in the private sectors, or are in the process of winding up their lifelong employments in time for retirement.

-ooo HIGH SCHOOL CRUSHES AND PUPPY LOVES IN THE 70s: HOW DO THEY LOOK NOW? Indeed, I am very eager to s e e w ho among us experienced the kindness--and, yes, the brutality---of the years that passed all of us by, almost unnoticeably.

I am sure everybody will be eagle-eyed, not in looking into the academic or business achievements of their school mates, but in determining who of the graduates now sport silver y-white hairs, or bulging tummies (as I do), or faces creased by wrinkles (as I also do), or who miraculously managed to retain somehow their youthful beauty and handsome looks.

The point of interest, particularly to many whose juvenile hearts learned how to beat pitter-patter at the mere sight of high school crushes and puppy

loves during those halcyon times, would be how the girls or the boys that made them swoon and dream dreams, or kindled in them desires previously unknown, have aged, and how they would now look at this point in time.

-ooo OVERCOMING THE ODDS AGAINST HIGH SCHOOL HOMECOMING: Even now, some of the members of NRMC High School Class 1973 who have tried their luck and carved out successful lives in far-away places in other countries have already arrived to attend the homecoming.

Class 73 President Dr. Rowena Abubo Bautista reported that those who are now in Tarlac for the homecoming are Dolores Sioco, Mayumi Castro, Elenita Gaculais, Eden Alomia, and Layda Rebuyaco, from the US and Australia.

Class Vice President Edgar Guiang told me that these “balikbayans” from Class 1973, and the others who would still be arriving soon, would be treated to a welcome dinner on March 24, 2017, at the mansion of Dr. Bautista and her husband, noted surgeon Dr. Jesse Bautista, at the Lacayanga Subdivision, also in Paniqui, Tarlac.

I guess all high school

K akampi

Mo A ng Batas

Atty. Batas Mauricio

graduates of NRMC would have to thank retired Police Col. Joe Mina---the interim president of the high school alumni association---for his persistence in carrying out the homecoming. I am aware of the obstacles thrown his way by other a lu m n i w h o v i r tu a l l y sabotaged the forthcoming affair, but it is a credit to Mina and his team--whose names I cannot list here now---that the homecoming is pushing through just the same.

Thank God in the Name of Jesus!

-ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible Exposition and prayer session online, could now be heard 24/7 (24 hours a day), in the Philippines and the world at www.facebook.com/ angtangingdaan. Phone: 0917 984 24 68, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

Developing our love for the Church We need to exert some deliberate effort to develop the proper love for the Church. Nowadays, w it h l ove it s e l f b e i ng distorted by detaching it from its true source, p atter n, and end, t his duty to love the Church is getting urgent.

We should love the Church by knowing more ab out its nature and purpose, and the implications and consequences that such knowledge naturally brings about. We should try our best to have the very mind of the Church and to learn how to engage it with our worldly and temporal affairs.

The Church is nothing other than the people of God, gathered together at the cost of his own life on the cross by Christ. This is because we from the beginning are meant to be God’s people, members of his family, partakers of his divine life.

We have to understand t hat t h is g at he r i ng of the people of God is

not achieved merely by some political, social or economic maneuverings.

It is a gathering that is described as “communion,” where our heart and mind work in sync with the mind and will of God. It i s a c om mu n i on where the love of God for us is corresponded to by our love for him.

And this is done not only individually by each one of us, but also collectively, all of us together in an organic way. Thus, we need to need to help one another in this common, universal concern.

As me mb e rs of t he Church, living members of Christ’s mystical body an d G o d’s p e opl e, we need to enter the mind of the Church to be vitally connected with the mind of Christ.

The mind of the Church is none other than the mind of Christ, the mind of God himself, as it is lived out in minds of each one of us. The mind of the Church therefore

is dynamically lived in h i s t or y, w it h t h e f u l l complement of our human condition.

The mind of the Church has to contend with the different factors that condition our human existence and our effort to live with God. There’s our culture, our physical, emotional, geographical, social and political conditions that can be as varied as can be, etc.

To acquire the mind of the Church has endless ways and possibilities, since it never means d oi ng it i n a u ni for m w a y, i d e nt i c a l , r i g i d , m on o l it h i c . It s i mp l y flows and streams, open to anything, adapting to the lay of the land, yet tending toward its proper destination.

We ne e d to lo ok at Christ for the proper way to do the Church-world engagement. While it is a divine institution, the Church is also human, subject to all other human factors-social, historical, cultural, political, etc.

HINTS

and

Traces

Fr. Roy Cimagala

The Church leaders who are supposed to orchestrate Church-world engagement should have a good understanding of how to do things in this regard. The organic link between these two aspects of Christian life should be lived and clearly expressed in all the pertinent public pronouncements a n d a c t u a t i o n s . We should avoid giving the impression, no matter how slight, of inter ventions

by C hu rc h l e a d e r s i n temporal affairs as being purely social or economic or political in nature only. roycimagala@gmail. com

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5 CEB marks first anniversary of first US destination Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|March 15, 2017

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he Philippines’ leading carrier, Cebu Pacific (PSE: CEB), celebrates one year of service between Manila and its first US destination, Guam.

The introduction of CEB flights to and from Guam has largely contributed to the surge in tourist arrivals from the Philippines.

CEB is the only lowcost carrier operating direct services between the Philippines and Guam.

The Guam Visitors Bureau reported a 74.3% year-on-year increase in tourists from the Philippines in 2016, versus 2.9% in the previous year. On the back of CEB’s four flights per week (Tuesday, Thursday, Saturday and Sunday) to and from Agana, the Philippines is now one of Guam’s fastest growing sources of visitor arrivals.

“We take pride in servicing the growing Filipino community in Guam, as flying this route has enabled more of our kababayans to come home to

their families more often. At the same time, we have also made the Philippines more accessible to the Guamanians, for business and leisure,” says Atty. JR Mantaring, CEB Vice President for Corporate Affairs.

“We are also proud to have contributed to the record tourist arrivals in Guam, which in turn has brought about a positive impact on a range of island businesses, strengthening trade and tourism between the Philippines and Guam.

The ‘Cebu Pacific effect,’ which has made flying to the destinations we serve faster, more affordable, and more accessible for a greater number of people, has boosted tourism and the local Guam economy,” added Mantaring.

The Manila-Guam service paved way for CEB to expand its reach across the Pacific, further boosting a network that now spans over 100 routes on 66 destinations across Asia, Australia, the Middle East, and USA. Its 59-strong fleet

is comprised of four Airbus A319, 36 Airbus A320, seven Airbus A330, eight ATR 72-500, and four ATR 72-600 aircraft. Between 2017 and 2021, CEB expects

delivery of one more brand-new Airbus A330, 32 Airbus A321neo, and 12 ATR 72-600 aircraft.

For bookings and inquiries, guests can visit www.cebupacificair.

com or call the reservation hotlines (+632)7020-888 or (+6332)230-8888. The latest seat sales can be found on CEB’s official Twitter (@

CebuPacificAir) and Facebook pages.

Guests may also download the Cebu Pacific official mobile app on the App Store and Google Play.

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AboitizPower’s hydropower plants, first to receive international asset management certifications in the Philippines

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AVAO CITY – Aboitiz Power Corporation (AboitizPower) subsidiaries Hedcor Sibulan, Inc. and Hedcor Tudaya, Inc. are the first companies in the Philippines to be at par with the new international Asset Management standard.

TUV-SUD, an internationally accredited certification body audits the compliance of an organization with international standards, recommended the ISO 55001:2014 certification for both Hedcor Sibulan and Hedcor Tudaya after the 56.1-MW cascading plants in Sta Cruz, Davao del Sur – namely Sibulan Hydro A, Tudaya Hydro 1, Sibulan Hydro B, and

Tudaya Hydro 2 – passed the two stages of the audit.

Hedcor Sibulan and Hedcor Tudaya passed the two stages with zero non-conformances on the operation and maintenance activities.

This means Hedcor has an integrated and effective management system for assets that enables the company to achieve objectives and assure these are attained consistently and sustainably over time.

Assessors also remarked the commitment and involvement of the top management and the professionalism and competency of the staff interviewed during the assessment and

cited some areas for improvement that will further better Hedcor’s asset management.

This achievement is a testament to Hedcor’s pursuit for a better world through renewable energy.

“One way to fulfill our renewed purpose is by advancing our business so we can also advance communities. Through obtaining this Asset Management System certification, we can assure our stakeholders of a more efficient and reliable generation of clean and renewable energy”, said Rolando Pacquiao, vice president for Mindanao Operations, Hedcor.

Hedcor also acquired certifications

for ISO 9001 (Quality Management System), ISO 14001 (Environmental Management System), OHSAS 18001 (Occupational Health and Safety), and ISO 27001 (Information Security Management System).

Hedcor is a whollyowned subsidiary of AboitizPower which specializes in generating renewable energy from run-of-river hydropower systems. It currently operates 22 hydropower plants and supplies the country with 185-MW of clean and renewable energy. Soon, its Manolo Fortich Hydro project in the province of Bukidnon will add 68.8-MW of power to the Mindanao grid.

wednesday|March 15, 2017

Rolando Pacquiao, Hedcor’s vice president for Mindanao Operations, explains to TUV-SUD lead assessor, Tan Yee Chine, how Hedcor Sibulan effectively controls four hydropower plants simultaneously in one room.

TUV-SUD conducts the two stages of ISO 55001 audit to Hedcor Sibulan and Hedcor Tudaya as part of Hedcor’s goal on advancing the business.

British Chamber meets Mindanao partners for upcoming Trade Mission The British Chamber of Commerce Philippines (BCCP) is organizing a Trade and Investment Mission to Davao City on 30-31 March, to explore the business/ commercial opportunities in Mindanao. Led

by Chairman Chris Nelson, the Chamber met with different Mindanao partners and representatives at the Davao City

Investment Promotion Center (DCIPC) Office in preparation for the Mission.

Discussions focused on the different activities included in the two-day Mission – sector briefing, business matching, and networking, among others – and the potential investment areas/ industries in Mindanao. The Mission is in partnership

with Philippine Chamber of Commerce and Industry (PCCI), Makati Business Club (MBC), Philippine-British Business Council (PBBC), Management Association of the Philippines (MAP), Davao City Chamber of Commerce and Industry Inc. (DCCCII), DCIPC, and the British Embassy Manila.

(Standing L-R) Mr. Rolando “Chug” Torres – Mindanao Business Council (MinBC) Exec. Director (2nd from left), Mr. Lemuel Ortonio - DCIPC OIC, Chris Nelson - BCCP Chairman, Mr. Ernie Tomas – Mindanao Development Authority (MinDA) Chief of Trade, Mr. Edwin Glindro - PCCI Deputy Sec. Gen (Sitting L-R) Keila Esquivel - BCCP Research & Project Officer, Rona Diaz - BCCP Project Manager, Ms. Arlene Makipagay - MinDA Development and Management Officer IV, Ms. Joevynar Miedes – Davao del Norte Investment Promotion Center (DNIPC) OIC

In line with ISO 55001 which ensures that assets meet the necessary safety and performance requirements, Hedcor officer answers TUV-SUD assessors, Praveen Tekchandani and Tan Yee Chine, on how Hedcor hydro plants work.

Certified Hedcor is now ISO 55001 certified company after passing the audit with zero non-conformances. What makes it sweeter is that both Hedcor Sibulan and Hedcor Tudaya are the first to be certified to this international asset management standard.

CorporateWorld 7 PH could lose billions of dollars in trade deals over death penalty Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|March 15, 2017

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HE European Union warned on Friday that the countr y c ou l d l o s e bi l l i on s of dollars in trade deals if the government restores capital punishment, fails to stop extrajudicial killings and l owers the age of

criminal liability. “ We a r e c o n c e r n e d about some of the issues here in the Philippines: the reinstatement of the death p enalty, also the extrajudicial killings and the proposal to lower the (age of) judicial responsibility age

to 9 years -- and these (are) also some of the concerns that we have conveyed to our partners here in the Phi lippines,” Europ e an Trade Commissioner Cecilia Malstrom told reporters on the sidelines of the ASEANEU Business Summit in

Pasay City.

Malstrom said the restoration of the death penalty -- the bill restoring capital punishment has been passed by the House of Representatives and will soon be up for deliberation by t he S enate -- could

affect the review of the G e ne r a l i z e d Sy ste m of Preference Plus, or GSP+, between the EU and the Philippines.

The agreement aims to grant the Philippines zero duties on some 6,274 locally-made products.

The EU trade official explained that the agreement requires Philippine ratification of 27 international conventions on human and labor rights, environmental protection, a n d g o o d g ov e r n a n c e , among others.

DEL Monte Pacific Ltd. reported a net profit of $8.5 million in the third quarter of its fiscal year, reversing the year-earlier loss of $4.8 million, the company told the stock exchange on Friday.

Without a non-recurring item, the company posted a profit of $11.6 million, more than five times the previous year’s recurring profit of $2.1 million.

“Our significantly higher profit was driven by strong sales in the Philippines and S&W Asian markets as well as operational efficiency improvements resulting in cost reduction,” said Joselito D. Campos, Jr., Del Monte managing director and chief executive officer, said in a statement.

“We continue to build

on the consumption driven growth in Asia as our team optimizes opportunities in both the retail and foodservice sectors,” he added.

The company said its Philippine sales grew as the group moved to tap growth and consumption opportunities during the Christmas peak consumption season.

It said the drive positioned Del Monte “as the single mega-brand that completes e ver y Fi lipino fami ly’s traditional Christmas meal celebrations complementing above-the-line advertising with strategic Christmas packs meant for gifting across all channels.”

“Expanded juice dispenser coverage and strategic meal profit/PAGE 11

reading the bills extending the franchises granted to Smart Communications, Inc. and GMA Network, Inc. Fifteen senators voted in favor of HB No. 4637, which extends by 25 years Smart’s legislative franchise, while Senators Ana Theresia Hontiveros-Baraquel and Panfilo M. Lacson voted against.

Smart’s current legislative franchise expires on March 27.

T he S e nate ve rs i on introduced several amendments to the Houseapproved measure, including requiring Smart to make a public offering of at least 30% of its authorized capital stock in any securities exchange in the country within two years from its effectivity. The IPO requirement was dropped by

there is no need for its wireless subsidiary to conduct an initial public offering, saying “the listing obligation has been complied with when PLDT, a listed company with a public float of over 50%, acquired 100% of Smart Communications in March 2000.”

The Senate-approved bill also deleted the term “couse” in the application of the franchise so that the word would not be invoked in anti-competition practices, recognizing the duopoly of Smart and rival Globe Telecom, Inc. The requirement for Congressional consent “on the sale, lease, transfer, usufruct or assignment” of the franchise was also retained in the Senate version.

hoped the Senate could have passed a higher penalty in case of Smart fails to conduct an IPO. “Considering that Smart has continuously failed to comply with this (IPO) requirement, we need a mechanism to guarantee compliance,” said Ms. Hontiveros. “In this case, what we proposed was for the franchise to be ipso facto revoked should Smart fail to list within two years.”

She also questioned the need for tax exemptions, particularly the substitution of value added tax (VAT) for the 3% franchise tax.

“Given the nature of the VAT, this is a tax that can and will be passed directly to consumers, possibly making service even more expensive...

Congress should consider

Ms. Hontiveros said.

Meanwhile, the Senate approved the measure renewing the legislative franchise of Republic Broadcasting System, Inc., which is now known as GMA Network, for another 25 years. Seventeen senators voted in favor of the bill, with no negative votes or abstentions.

The Senate version of the bill extending the franchise of GMA would require the network to provide free public service time -- consisting of 10% of all its ad time -- to the government to relay important public announcements and warnings.

The network was also required to make closed captioning available for its programs to assist in the functions of public information and education.

Del Monte Pacific back to Senate OK’s Smart, GMA franchise extension In explaining her negative every additional exemptions SENATE on Monday the House. profit in 3 months to Jan THE approved on third and final PLDT, Inc. has maintained vote, Ms. Hontiveros said she and privileges very carefully,”

8

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wednesday|March 15, 2017

and

P resent 3

Also Brought To You By:

rdNORTHERN MINDANAO

FINAL ROUNDS & AWARDING CEREMONY - March 30, 2017 at PHINMA-COC Auditorium, Carmen, Cag de Oro City Final Rounds starts at 9:00 a.m.

Awards Program - 3:00 p.m.

PARTIAL LIST OF FINALISTS: News Writing Sports Writing 1. Ysobelle B. Navales - Kauswagan NHS, Cag de Oro 1. Rico C. Libling, -Yumbing N. H S Camiguin 2. Jerome E. Cantong - Macabalan NHS, Cag. de Oro 2. Gerald G. Solidor - MOGCHS, Cag de Oro 3. Myrette Jeshielle P. Bandoy - BNSHI, Maramag, Bukidnon 3. Lenmark A. Monsanto, CMSU,Musuan, Bukidnon 4. Earl Joy B. Lopina - Yumbing NHS, Camiguin 4. Dave Clarion V. Daing - Bulua NHS, CDO 5. Cryschia Faye C. Tayong- CMU, Musuan, Maramag, Bukidnon 5. Michelle P. Balas- Tabllon Nat’l High Sch, CDO 6. Nerimer Grace V. Pornia- CMU, Musuan, Bukidnon 6. Ernesto B. Plaza Jr.- Macabalan NHS, Cag de Oro 7. Rowena T. Sabellita -Tablon NHS, Cag de Oro 7. Evans Jake C. Dacut- BNSHI, Maramag, Buk 8. Shane Erica Beniga - Bayanga NHS, Cag de Oro 8. Pamela C. Noveros - CMU, Maramag, Bukidnon 9. Jireh Faith B. Nino, BNHS, Malaybalay City 9. Jhanatoden M. Dipantar, MSU-IIT, Iligan City 10. Bruce Mico P. Gamad, BNHS, Malaybalay City 10. Faith Nicole Arquero - MSU-IIT 11. Ely Mae Dag-uman - MSU-IIT, Iligan City 11. Melbon B. Ganzan - St. Michael’s College 12. Jan Paolo M. Lumpaz - St. Michaels College, Iligan City 13. Jamaliah T. Nasrodin - St. Michaels College, Iligan City Sports Writing College: 14.Sophia Angel Lood, - St. Michaels College, Iligan City 15. Lanz Selwyn Lucmayon - MSU-IIT, Iligan City 1. Norwafa M. Daing - MSU-IIT

News Writing College: 1, Louise Francine Socillo - MSU-IIT Feature Writing Photo Journalism (H.S.) 1.Kristina Casandra L. Pava 1. John Homer C. Tabas - Central Mindana State University HS

- Kong Hua School 2. Ivy Joyce D. Naparan 2. Andre’ Socorro F. Doria - CMU High School, Musuan, Bukidnon - Yumbing NSH, Mambajao, Camiguin 3. Neil John J. Jomaya 3. Meybelle Rose R. Esid -Central Mindanao State UniversityHS - Lapasan National High School, CDO: 4.Jade Angeline B. Flores 4. Zarin Condes, CMULHS - BNSHI, Maramag, Bukidnon 5. Sofia Abigail Bonghanoy, CMU H.S., Musuan 5. Stephanie B. Lapuz, BNHS Malaybalay 6. Edward Agnes, Musuan, Bukidnon 6. Jacynthe Paz G. Tilanduca, BNHS Malaybalay 7. LeAnne J. Aribal, C MU Musuan, Bukidnon 7. Ashel Louisse C. Mulet, BNHS, Malaybalay 8. Alyssa Mariel C. Tagaan -BNSHI, Maramag, Bukidnon College: 9. Philipp Gabriel T. Casano - CMUHS, Musuan, Bukidnon 1. Junard J. Jumalon - MSU-IIT 10. Troy Valdehueza, - CMU High School, Musuan 2. Omongos Jena Joy - MSU-IIT 11. Megan Louse P. Tabique, MSU-IIT, Iligan City 12. Kyshann Mar C. Malubay, MSU-IIT Iligan City 13. Kassandra A. Buenafe, St. Michael’s, Iligan City 14. Erila M. Gatillo, MSU-IIT, Iligan City Feature Writng College 1. Juan Miguel Rodriguez - St. Michael College,Iligan 2. Audrey Dorothy Macas- St. Michael College,Iligan 3. Jamaila C. Bazer -St. Michael College,Iligan 4. Jorome Clark C. Maglajos - MSU-IIT 5. Abegale A. Cadorna - St. Michael College, Iligan

Science Reporting

1. Rico C. Libling, (YNHS) Camiguin 2. Nadine Cyra Valdehuesa, (CDONHS) Cag de Oro 3. Alysza Jewel V. Buna (Kong Hua) Cag de Oro 4. Julie Marie S. Bongaos, (Cugman NHS) Cag de Oro 5. Laurence M. Pabatao (BNSHI) Maramag, Bukidnon 6. Jhoris Mea Lamigo, BNSHI, Maramag. Bukidnon 7. Rheanelyn Arquilos, BNSHI, Maramag, Bukidnon 8. Israelbelle N. Ferolino, BNHS, Malaybalay City 9. Ryle Emmanuel M. Ocab, BNHS, Malaybalay City 10. Xybeen Lyndee B. Gresola - MSU-IIT, Iligan City 11. Al Fisher A. Coronado - MSU-IIT, Iligan City 12. Leila Claire A. Toribio - MSU-IIT, Iligan City Science Reporting College: 1. Elaiza Flor M. Arabiana - MSU-IIT 2. Dona Faith C. Jakosalem - MSU-IIT Business Reporting

1. Mark Palad, PIO, Camiguin 2. Francis Jose Luspo, Yumbing National High School 3. Jediah Jaira Ll Bualat, Kong Hua School, CDO 4. Justine G. Pamisa, BNSHI, Maramag, Bukidnon 5. Christy Flor D. Ecuacion, BNHS, Malaybalay City 6. Cees Mark G. Pranto, BNHS, Malaybalay City

Announcement:

The Regional Qualifying Rounds scheduled in other cities andprovinces, are still on-going.

Finalists will be published in addition to the list in this page.

For inquiry, pls call 09153190138.

- The Secretariat

Banking&Finance 9 BSP asks banks Tax reform ‘key link’ to to prepare disaster contingency plans redeeming PHL future Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|March 15, 2017

BANKS will soon be required to prepare contingency plans that would allow them to operate in disaster-hit areas, as the central bank seeks to ensure financial services are available in times of distress.

Bangko Sentral ng Pilipinas The B ang ko S ent ra l ng Pilipinas (BSP) will require banks to install a quick recover y protocol for branches and offices that would allow them to get back on their feet after disaster strikes, as captured under a business continuity management circular to be issued by the regulator.

“It prescribes standards for banks to make sure that they are resilient to natural disasters and typhoons. Banks need to prepare for those so that when such things happen, they can be up for business within hours if possible,” BSP Deputy Governor Nestor A. Espenilla, Jr. told reporters in an ambush interview last week.

“As you know, our country is a disaster-prone country so we have to be ready for those things.”

The Philippines is considered as one of the 20 countries most vulnerable to the impact of natural disasters and climate change.

The Finance department previously said that more than 1,000 deaths occur yearly in the Philippines due to natural calamities, with typhoons accounting for 74% of lives lost, 62% of

damage to properties, and 70% of damage to agriculture.

Mr. Espenilla said the BSP will set the basic standards which the banks will use as a model in crafting their own contingency protocols.

These action plans must be submitted for the central b a n k’s ap p r o v a l , t h e n implemented by all of a bank’s branches and units across the country.

Mr. Espenilla said that w hi le regu lator y relief extended to banks in disaster areas will remain available, preparedness is another issue: “Relief is one thing. Banks still actually need to open their doors for business.”

The BSP has been extending regulatory relief to banks and quasi-banks operating in provinces and towns badly hit by disasters.

Relief measures were given to banks in 16 areas in Luzon and Visayas badly hit by typhoon Nina in December, which include the nonimposition of penalties even if reserves fall below the central bank’s requirement and a 60-day grace period for rediscounting dues, among others.

In March last year, the central bank also required “too-big-to-fail” banks to craft recovery plans that would allow the lenders to remain in business despite a possible funding crunch, as part of an overall framework on risk management to strengthen the local banking system.

FINANCE S e cret ar y Carlos Dominguez III has underscored the importance of public diplomacy to win popular support for the Duterte administration’s proposed Comprehensive Tax Reform Program (CTRP) by convincing ordinar y Filipinos that an overhaul of the outdated tax is the “key link” to “redeeming the country’s future.”

“It is important for us to quickly conduct public diplomacy to win our citizens to the side of reform. We should be able to convince our people of the long-term benefits of renovating the architecture of our country’s revenue system,” Dominguez said “We need to convince our people the comprehensive tax reform package is the key link to a more inclusive economy further down the road.”

“This can be done only with the passage of the comprehensive tax reform program. This is the key link to redeeming our nation’s future,” said Dominguez in his remarks during Friday’s tax reform roadshow jointly conducted by the Philippine Chamber of Commerce and Industry (PCCI) and the United States Agency for International Development (USAID) at the Shangri-La Hotel in Makati City.

PCCI-USAID tax reform roadshows have so far been held in the provinces of Pampanga, Palawan, Cebu,

Bohol, Davao and Cagayan De Oro to inform the public of the benefits of the CTRP and gather their inputs on how to further finetune the proposed tax reform plan.

Dominguez thanked the PCCI, led by its president George Barcelon, and the USAID for pro ac t ively supporting the CTRP and helping the Department of Finance (DOF) pitch its merits before the business sector and the international community. “ Than k you for t he support you offer in c on du c t i ng t h e pu bl i c diplomacy paving the way to revenue reforms. Yours are credible voices representing the business community and our development partners.

I assure you the support you extend is profoundly appreciated,” he said.

Dominguez noted that previous secretaries and undersecretaries of the DOF have vigorously endorsed this tax reform package, along with multilateral institutions such as the World Bank, the International Monetary Fund, and the Asian Development Bank.

The Philippines’ development partners, as well as several reform-oriented civil society groups have also expressed their support for the CTRP. Alt houg h t he CTRP has secured the support of an increasing number of institutions and

Bring home a new and exciting mamon treat your kids can’t resist!

White Choco Almond Mamon blends white choco goodness with crunchy almonds!

Bringing home “pasalubong” for our kids have always been part of our culture. Whether there is an occasion or not, seeing our loved ones’ eyes light up brings warmth to our hearts and makes a stressful day seem worth it, especially, if the treat you bring home is joyfully appreciated by the people receiving it.

While there are many things that you can bring home as “pasalubong,” a new and delightfully different treat never fails to surprise your family, especially if it is from Red Ribbon, one of the most loved bakeshop chains in the country.

This time, Red Ribbon introduces another exciting and indulgent treat with the latest addition to its mamon staples—the new Red Ribbon White Choco Almond Mamon.

Red Ribbon’s While Choco Almond Mamon perfectly blends soft, fluffy, melt-in-yourmouth

white chiffon, creamy white chocolate and crunchy almond bits for a combination that is both heavenly and indulgent. It’s a sweet treat that kids and grown ups cannot resist!

“We, at Red Ribbon, are always finding ways to give our customers new treats that they will enjoy and love. The new mamon variant promises a new exciting experience,” said

Ned Bandojo, head of marketing of Red Ribbon.

“The right combination of white chocolate and almonds make this a treat that will turn even the simplest moments into a sweeter and more memorable experience,” The new White Choco Almond Mamon joins Red Ribbon’s other mamon flavors like the Butter Mamon, Cheesy Mamon,

Caramel Mamon, Creamy Mamon, Mocha Mamon, Cookies and Cream Mamon, and Ube Mamon.

Like the other much-loved mamons, the White Choco Almond Mamon is sure to make a perfect pasalubong and pambaon treat.

Customers can now enjoy the new mamon for only PhP24 a piece.

However, if they buy the five-piece bundle pack, they can get it for only PhP99.00, saving up to PhP21.00! The White Choco Almond Mamon is available in all Red Ribbon stores nationwide starting February 28, 2017.

As one of the fastest growing bakeshop chains in the country, Red Ribbon is dedicated to making everyday moments more special by bringing new, exciting, and delicious cakes, breads, and pastries.

To know more about Red Ribbon’s many delights, visit www.redribbonbakeshop. com.ph.

organizations, Dominguez said, “It is the man-on-thestreet we now need to win over. This man-on-the-street is susceptible to populist and free-rider arguments put forward by groups that oppose any and all reforms in taxation.”

Dominguez said the popular proposals in the CTRP’s first package, such as the significant cuts in personal income tax (PIT) rates and estate taxes are “fairly easy to sell” to the public, but they should also be educated on the underlying reasons behind these reforms, which are to align tax rates with the rest of the region to make the Philippines a magnet for investments and to increase the purchasing power of compensation earners to further boost

economic productivity.

The CTRP’s first package, introduced in the Congress

by Rep. Dakila Carlo Cua as House Bill No. 4774, also aims to lower donor taxes and provide revenue reform measures such as adjusting the excise taxes on automobiles and fuel and broadening the Value Added Tax (VAT) base but retaining exemptions for seniors and persons with disabilities.

Dominguez said the public needs to know why the government is reforming the system of collecting taxes, such as in the VAT. “The VAT is a stable source of income of revenues.

However, our system has been afflicted with too many exemptions inserted by law.

These exemptions render tax/PAGE 11

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wednesday|March 15, 2017

DOLE 10 consults civil society on 2018 budget formulation

C

AGAYAN DE ORO CITY -Department of Labor and Employment (DOLE) - Region 10 Director Raymundo G. Agravante in a consultation spoke with 12 Civil Society Organizations (CSOs) in its 2018 budget formulation on 7 March 2017 in Cagayan de oro City.

Agravante said that the consulation for budget formulation is based on people from the grassroots since they know more what they need, so it is fitting that they be consulted for the budget on the projects that are dedicated to them.

With this, all DOLE livelihoodrelated programs that

need budget are being consulted from the CSOs, he further said. “I hope that your contribution to this budget consultation can give more meaning and strength to the budget of our department,” Agravante said.

Relative to this, the Department of Budget and Management (DBM) requires that the processing of budget for

all National Government Agencies (NGAs) and Government-Owned and/or Controlled Corporations (GOCCs) shall have to go through some consultation from the people.

Joined by DOLE-X OIC Assistant Regional Director Lucila S. Pulvera, the provincial field office heads and focal persons, the CSOs represented non-government organizations (NGOs), people’s organizations, cooperatives, foundations, and other citizen groups

formed primarily for social and economic development.

In her closing statement, Pulvera explains that the agency is maximizing its efforts for the greater involvement of CSOs in formulating anti-poverty and basic public projects in their respective municipalities in the region.

“Through this, we aim to incorporate new ideas and integrate adjustments in program budgeting and implementation to be more responsive to their needs,” Pulvera said.

Meanwhile, Planning Officer Bernie Boy T. Salinas presented DOLE’s Priority Municipalities and DO 173 amending DO 137 of DOLE Integrated Emergency Employment Livelihood Program while Budget Officer III Akisa L. Guro laid the 2018 budget.

The one-day activity wrapped up with the workshop output presentation that contained issues, concerns and recommendation.

(Glenford C. Labial/ DOLE-10)

To ensure that government programs and projects for implementation in 2018 are consistent with the 2017-2022 Regional Development Plan, the Regional Development Council in Northern Mindanao (RDC-X) holds simultaneous sector consultations on the region’s priority programs and projects for FY 2018. RDC-X Chair and Bukidnon Governor Jose Maria R. Zubiri, Jr. stressed on the need to heavily invest in the region’s human capital to provide everyone with equal access to economic opportunities and to support national government’s pursuit of rapid infrastructure spending in preparation for an increasing influx of investments in the next five years. (RDM/PIA10)

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE REGIONAL TRIAL COURTSHERIFF NOTICE OF EXTRA JUDICIAL SALE EJF File No. 2017-052 Upon extra-judicial petition for sale under Act No. 3135 as amended by Act No. 4118, filed by BDO UNIBANK, INC., as Mortgagee/s, against ARACELI B. LOPEZ, as Mortgagor/s, with postal address at Lower Sugod, Bagontaas, Valencia City, Bukidnon, and Lot 39 Block 3, Vista Verde V Subdivision, Barangay Canitoan, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of January 3, 2017 amounts to FOUR MILLION EIGHT HUNDRED NINETEEN THOUSAND FORTY ONE PESOS and 77/100 (Php4,819,041.77) inclusive of interest, penalties, and other charges, and expenses in this petition/application, the undersigned Sheriff will sell at public auction on March 23, 2017, at 10:00 in the morning to 4:00 in the afternoon, at the main entrance door of the Tourism Hall, Cagayan de Oro City, to the highest bidder, for cash or manager’s check and in Philippine Currency, the following property described below, to wit: TCT No. 137-2013000744 “A CERTAIN LAND situated in Upper Carmen, Cagayan de Oro City (Lot 39, Block 3, PCS-10- 003432, consolidation xxx, with an area of Two Hundred Thirty Six (236) sq. m. more or less.xxx

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

In the event auction sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication.

Prospective buyers may investigate for themselves the title herein- above described and encumbrances thereon, if any there be.

DONE this 20th of February, 2017, in the City of Cagayan de Oro.

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 18 Cagayan de Oro City BDO UNIBANK, INC., EJF FILE NO. 2017-046

Mortgagee,

-versus- FOR: EXTRA-JUDICIAL FORECLOSURE OF REAL SPS. PATRICK YAMBA AND ESTATE MORTGAGE ROWENA YAMBA

Mortgagors, x-------------------------------------------/ Upon extra-judicial petition for sale under Act 3135 as amended, filed by BDO UNIBANK, INC., Mortgagee, with principal Office address at BDO Corporate Center, 7899 Makati Ave., Makati City, against SPS. PATRICK YAMBA and ROWENA YAMBA, Mortgagors, with postal address at 1137 Borja Cmpd., Brgy.

Camaman-an, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of January 3, 2017, amounted to FOUR MILLION ONE HUNDRED FIFTY EIGHT THOUSAND TWO HUNDRED EIGHTY SIX PESOS (Php4,158,286.00) Philippine Currency, inclusive of interest and penalty charges, the undersigned Sheriff will sell at public auction on March 22, 2017, at 9:00 a.m. to 4:00 p.m. at the Regional Trial Court, Branch 18, Hall of Justice (City Tourism Hall), Cagayan de Oro City, to the highest bidder for CASH and in Philippine Currency, the following properties described below including all existing improvements found thereon, to wit: Transfer Certificate of Title No. 137-2011000898 A PARCEL OF LAND (Lot 2106-A-6-I-9-I-6-E-3, PSD-104305-020366, being a portion of Lot 2106-A-6-I9-I-6-E, PSD-10-008770), Situated in the Barrio of Camaman-an, City of Cagayan de Oro, Island of Mindanao, containing an area of NINETY TWO (92) SQUARE METERS, More or less.

Transfer Certificate of Title No. 137-2011000899 A PARCEL OF LAND (Lot 2106-A-6-I-9-I-6-E-1, PSD-104305-020366, being a portion of Lot 2106-A-6-I-9I-6-E, PSD-10-008-770) Situated in the Barrio of Camaman-an, City of Cagayan de Oro, Island of Mindanao, containing an area of ONE HUNDRED (100) SQUARE METERS, more or less.

In the event auction sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication.

Prospective buyers may investigate for themselves the title herein above described and encumbrance thereon, if any there be.

(SGD.) ENRIQUE M. TALAG, JR Sheriff IV BWM: Mar. 1, 8 & 15, 2017

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

Cagayan de Oro City, February 13, 2017.

FOR THE EX-OFFICIO PROVINCIAL SHERIFF

BWM: February 1, 8 &15, 2017

(SGD.) NIZA P. TACANDONG Sheriff IV

11

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wednesday|March 15, 2017

Power... from page 1

on Monday.

In addition, the aim in opening a spot market for electricity in the island-region is part of the Department of Energy’s (DOE) goal to provide a platform to properly handle the excess supply coming from Mindanaobased power firms.

Earlier, Energy Secretary Alfonso Cusi said part of their main thrusts is to ensure the security, reliability and availability of transparent and reasonably-priced electricity in the country.

Currently, the daily excess power of the Mindanao grid averages around 400 megawatts (MW). It started when new Mindanaobased power firms began commercial operations in the third quarter of 2016.

The present Mindanao power situation is a complete reversal from two to three years ago, when the island region suffered a daily energy supply shortfall of at least 500 MW, resulting to five to eight hours of daily brownouts in parts of the island such as in the cities of General Santos and Zamboanga.

The Mindanao daily power demand is around 1,800 MW based on the bulletin of the National Grid Corporation of the Philippines (NGCP).

The excess in supply is expected to reach 1,000 MW for this year, and will double in the succeeding years, as new power plants will begin to operationalize, Reston said.

Un d e r t h e W E SM operation, energy suppliers will post their prices that will be bid out by customers or the power distribution utilities. The scheme will provide the power utilities an option where to source their supply.

To date, distribution utilities source their supply through bilateral contracts w it h p ower generat ing companies.

The Philippine Electricity Market Corporation (PEMC), an agency under the DOE, will manage WESM just like in the Luzon and Visayas regions.

WESM is similar to the Interim Mindanao Electricity Market (IMEM) that was implemented in 2013 at the height of the energy crisis in the southern Philippines.

Meanwhile, the DOE and MinDA have recently finished its consultations among key sectors in Mindanao for the establishment of WESM. “It is expected that the final version of the circular e s t abl i s h i ng W E SM i n Mindanao will be published this month,” Reston said.

An information campaign will follow next month to ensure that Mindanoans will fully understand the concept of WESM and appreciate its benefits before its launching in June.

Reston said another idea in setting up WESM is for the power producers in Mindanao to sell excess electricity to Luzon and Visayas in the future.

Based on the data from

NGCP, the two main areas for interconnectivity are Negros/ Cebu-Zamboanga for the western route and LeyteSurigao for the eastern route.

“It will create a bigger market for our suppliers,” Reston said. (PNA)

Loan... from page 1

last week she is “confident the center will hit its 5% target in annual loan increase” as they look for new clients as well as sustain existing priority accounts, particularly largescale agricultural enterprises.

She added that the bank has maintained a low nonperforming loan rate of 1.8% “as we have been able to efficiently collect from our borrowers.”

“We have priority accounts that have been loyal to us,” Ms. Conde said, citing as an example banana companies that are expanding in the Davao Region, particularly in Compostela Valley province.

She noted that the bank did not have exposure in the banana companies in Compostela Valley when typhoon Pablo (international name: Bopha) hit the region in 2012, destroying about 8,000 hectares of banana farms.

As such, the bank was among the financial institutions that helped the affected farmers recover from the devastation.

Ms. Conde added that they are also open to extend financing to other businesses, including start-ups.

L ast week, the bank approved a P26-million loan for PTO Ventures and Management Co., which will be processing stones into construction materials.

The company is using the fund to buy equipment and set up its processing plants in Davao City, PTO Ventures President Renato E. Elorza said during the contract signing.

Mr. Elorza said they a r e a l s o l o o k i n g i nt o developing the company’s banked properties in Davao within the next two years for socialized housing projects.

Resumes... from page 1

Trust that we will continue working with the relevant authorities in order to hasten full restoration, and further improve our services,” added Mantaring.

Passengers who needed to fly Surigao City, after operations of the airport was suspended due to the quake, had to fly in from Butuan City, then travel by land to Surigao for about three hours. With the reopening of the airport, it will be more convenient to travel direct to Surigao City, for as low as for as low as P1,882.00.

CEB currently operates flights out of five other strategically placed hubs in the Philippines: Manila, Davao, Clark, Kalibo, and Iloilo. The airline’s extensive network covers 66 destinations with over 100 routes, spanning Asia, Australia, the Middle East, and USA. CEB’s 59-strong fleet is

comprised of four Airbus A319, 36 Airbus A320, seven Airbus A330, eight ATR 72500 aircraft and four ATR 72-600. Between 2017 and 2021, CEB expects delivery of one more brand-new Airbus A320, 32 Airbus A321neo, and 12 ATR 72-600 aircraft.

MacArthur... from page 2

his escape route, before proceeding to Dicklum, in Manolo Fortich, Bukidnon to board a plane that took him to Australia.

“It’s always good to see parts of the Philippines [working] to preserve the Filipino-American history.

It’s very significant,” said Lieutenant Commander Patrick Panjeti, of the United States Navy and an officer of the Joint United States Military Assistance Group Philippines (JUSMAGPHIL), who represented Sung Kim, the American Ambassador to Philippines.

In 2008, the present MacArthur shrine was built, which was recognized as a historical site by the National Historical Commission and by the American government when then Ambassador to the Philippine Kristie Kenney visited the marker.

The MacArthur shrine in Cagayan De Oro depicted only MacArthur’s Philippine Army Field Marshal’s Cap, making it unique from other sites such as the ones in Norfolk, Viriginia, USA, where he and his wife were buried, and in Inchon, South Korea.

Former Cagayan De Oro City Mayor Constantino Ja r a u l a , t h e n o r d e r e d the construction of the MacArthur Shrine in a “marker” in a port area where MacArthur and his party purportedly landed.

Jaraula then said that since the city cannot top the other MacArthur sites in other countries, it might as well make a unique marker that will distinguish it from other shrines. (PNA)

Profit... from page 7

pairing tie-ups in major convenience stores and fast food chains also helped drive food service growth,” the company added.

For the nine months ending January, the company posted a net profit of $19.9 million, down 38% from a year earlier.

Sales for the nine-month period fell around 2% to $1.71 billion.

For the three months to January, sales hit $604 million, slightly higher than the previous year’s $602 million “as strong sales in Asia offset lower sales in the United States,” the company said.

Mr. Campos said the company’s US business “continues to be impacted by shifting consumer preferences, and our performance in the foodservice and private label sectors.”

“We are implementing a strategy based on innovation and differentiation in existing categories, while seizing

opp or tunit ies in ot her categories and channels to address consumer demands,” he added.

Del Monte’s S&W branded business in Asia and the Middle East was able to sustain its momentum as it grew by double digits during the period. The growth was driven by the fresh and packaged segments, the company said.

In nor th Asia, sales grew significantly as S&W expanded its fresh fruit distribution in China and raised brand awareness through in-store sampling, it said.

“In the packaged segment, sales increased from strong sales of canned fruit to North Asia supported by improved supply, higher shipment into Indonesia and improved juice sales to Israel,” Del Monte said.

The company said that barring unforeseen circumstances, it expects to generate a higher profit for the year to April, on a recurring basis or without one-off items.

Hurst... from page 4

will do with us after we die.

You must decide for yourself 1 of 3 choices who Jesus Christ really is: He’s either a liar, a lunatic, or the Lord of the world, just who He said and proved He is. Jesus said and showed that He’s God Himself, the Creator of all life, and Lord over death.

That means He’s your and my Judge Who’s the only One Who can forgive and save you from suffering in hell, away from Him forever.

So if you understand that Jesus is God your Maker, just as He said and proved He is, then the smart choice is to obey everything He commanded and live His way every day of your life.

His way’s the only way you can live the true, satisfying life He created you to enjoy— now and forever. Just Think a Minute…

Tax...

from page 9

the VAT system very, very porous. This is why Thailand collects the same percentage of GDP from its VAT system even though it imposes a rate of only seven percent against our 12 percent,” he said.

“If we are able to close the loopholes, it should be possible in the future to contemplate lowering the VAT rate itself,” Dominguez said.

As far as the DOF can accomplish within the existing tax framework, Dominguez said administrative reforms in the Bureaus of Internal R e ve nu e ( B I R ) an d of Customs (BOC) have already been “pushed” to the limit and produced “palpable results.

The BOC, for instance, has exceeded its target collections in the last quarter of 2016, while the BIR has dramatically increased its revenue intake.

The BOC, for instance, has exceeded its target collections in the last quarter

of 2016, while the BIR has dramatically increased its revenue intake. In 2016, the Bureau of Customs collections grew 8.2 percent year-on-year, while that of the Bureau of Internal Revenue grew 9.3 percent year-onyear, Dominguez noted.

“In fact, from January 1 to March 3 of this year, both the BIR and BOC have posted double-digit year-on-year growth in collections, at 13 percent and 15 percent respectively,” he said.

The finance chief said that newspaper headlines highlighting the plan to file charges against cigarette manufacturers involved in producing fake tax stamps “have shown that we are intent on going after tax-evaders, including sacred cows of the previous administration.”

He said the BIR and BOC estimate that the government can collect more than P5 billion in deficiency taxes and duties from seized cigarettes with fake tax stamps.

But Dominguez said “administrative reforms can only accomplish so much,” and accompanying reforms in tax policy are also needed make the system simpler, fairer and more efficient, especially for low- and middle-income earners.

“The reforms we propose seek to achieve these features.

While we yield revenues by cutting income taxes, we seek to offset that by putting

in tax policies that broaden the tax base,” he said.

Hence, he said, the CTRP is the key to accomplishing the Duterte administration’s goals of closing the infrastructure gap, developing the country’s human capital and shifting from a consumption to an investment-led economy in the near term.

The CTRP, he said, will sustain the pace of growth to 7 percent or better, bring down the poverty rate to 14 percent in the medium term and pave the way for the country to become a highincome economy by 2040.

Investing only half the GDP rate of other Asian countries in infrastructure has led to the poor state of the country’s ports, airports, rail systems, road networks and bridges. “We cannot expect our economy to run like a fine-tuned engine if our infra and logistics backbone is obsolete,” Dominguez said.

A weak infra backbone in an archipelagic country like the Philippines has kept transport and production costs high and hampered development in the countryside, forcing people to migrate to congested urban centers, he noted.

“The net result of poor investments in infra is highly exclusive growth and a domestic economy characterized by uneven w e a l t h d i s t r i b u t i o n ,” Dominguez said. (PNA)

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE REGIONAL TRIAL COURT SHERIFF NOTICE OF EXTRA JUDICIAL SALE EJF File No. 2017-083 Upon Extra-judicial Petition for Sale under Act No. 3135 as amended

by Act No. 4118, filed by NATIONAL HOME MORTGAGE FINANCE CORPORATION (NHMFC) against IBALYN T. LEGASPI RAMOS, married to GLENN C. RAMOS, of Bulua, Cagayan de Oro City, to satisfy the mortgage indebtedness which as 03/31/16, amounted to ONE MILLION FIFTY THREE THOUSAND TWO HUNDRED SIXTY THREE PESOS and 84/100 (Php1,053,263.84) exclusive of penalty, undersigned Sheriff will sell at public auction on March 28, 2017 at 10:00 in the morning to 4:00 in the afternoon, at the City Tourism Hall, Cagayan de Oro City, to the highest bidder, for cash or manager’s check and in Philippine Currency, the following property described below, to wit: TCT No. T-81201 A PARCEL OF LAND (Lot 5946-D-7-A, Psd-104305-018909, being a portion of Lot 5946—D-7, Psd-10008960)) situated in the Barangay Bulua, City of Cagayan de Oro, Province of, Island of Mindanao, containing an area of Three Hundred Thirty Three (333) sq. m. more or less.xxx All sealed bids must be submitted to the undersigned on the above stated time and date.

In the event auction sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication.

Prospective buyers may investigate for themselves the title hereinabove described and encumbrances thereon, if any there be.

DONE this 24th day of Febr dry, 2017, the City of Cagayan de Oro.

BWM: Mar. 1, 8 & 15, 2017

(SGD.) ENRIQUE M. TALAG, JR Sheriff IV

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Wednesday | March 15, 2017

IDC Chairman Speaks at Italian Chamber Business Forum L isted ItalianFilipino developer Italpinas Development Corporation (IDC) Chairman and CEO Architect Romolo Valentino Nati was among the speakers during the recently conducted business forum by the Italian Chamber of Commerce in the Philippines, last March 2, 2017, held in Makati.

The event was organized by EU- Philippines Business Network, Archipelago and PhilippinesNetherlands Business Council. Under the theme, “Philippine

Economy: Is Change Coming?”, the said forum solely talked about the pressing issues within the government and its agencies with regards to the actions from the foreign trade agreement currently being negotiated between the Philippines and the EU. Architect Romolo Nati spoke about his exciting experience in the Philippines that brought him from founding a development company in 2009 to be listed in the Philippine Stock Exchange (PSE) in the year 2015. He also gave emphasis

on the challenges and opportunity that the Philippines can offer to Italian investors.

Some of the speakers and attendees of the event were, EU Ambassador Franz Jessen, Commissioner Johannes Bernabe from the Philippine Competition Commission (PhCC), Bloomberg host and trade lawyer Atty. Anthony Abad, Lorens Ziller, Vice President and Executive Director of the Italian Chamber of Commerce, and Mr. Angelo “Butch” Benedictos, DTI Assistant Director.

Participating in

this business forum, Italpinas is a dynamic company focused in sustainable property developments in emerging cities across the Philippines.

It has garnered international and national accolades for its commitment to green-designed buildings. Learn more at www. italpinas.com.

IDC Chairman and CEO Architect Romolo Valentino Nati during the business forum conducted by the Italian Chamber of Commerce.

PARASAT BRINGS BACK PREPAID CABLE TV SUBSCRIPTION Gean T. Cesar

The biggest cable TV company in MindanaoParasat Cable TV brings back the prepaid cable TV subscription after a consistent strong clamor from non-cable TV residents in Cagayan de Oro and Misamis Oriental.

This time, there is no lock in period of which subscribers can enjoy viewing as many as 98 channels which they can choose from. For only P199 for 30 days for its lowest prepaid price, you can also

avail of free installation and one month worth of load valued at P499. This offer is limited for the first 100 subscribers only.

You only have to pay the one-time cost of the box at P1,499 for Standard Definition prepaid subscription or P1,999 for High Definition.

Visit any of Parasat Cable TV’s branches for more details and get the chance to be one of the lucky 100 first prepaid subscribers.