BusinessWeek Mindanao (March 2, 2020)

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Briefly Bangus, shrimp production DAVAO City – The Mindanao Development Authority (MinDA) will conduct a series of regional orientation workshop on bangus fish cage farming and white shrimp production for interested farmers and investors starting next week.

In a Facebook post on Monday, Secretary Emmanuel Piñol said the first workshop will be conducted on-site in Malalag, Davao del Sur, one of the coastal towns in Mindanao where fish cage farming has become a huge industry.

Piñol said the workshops will be conducted with the support of the Bureau of Fisheries and Aquatic Resources (BFAR), government and private financing institutions such as the Development Bank of the Philippines, the Cooperative Development Authority (CDA), and prospective buyers of the marine products.

P1.3-B road project COTABATO CITY — The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has set aside P1.3-billion worth of roads for 63 villages in North Cotabato that now form part of the fledging region.

This was revealed Monday by lawyer Naguib Sinarimbo, head of the Ministry of the Interior and Local Government (MILG-BARMM) and regional spokesperson.

“This year alone, we have prepared about P1.3-B fund to build modern road networks in the 63 villages of North Cotabato,” he said after meeting with some of the local officials from the 63 barangays.

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Banana shipment to China back to normal www.businessweekmindanao.com

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By ANTONIO L. COLINA IV, MindaNews

HE shipment of bananas from the Philippines to China has normalized this month after experiencing a disruption caused by the coronavirus disease (Covid-19) outbreak, Pilipino Banana Growers Exporters Association (PBGEA) executive director Stephen A. Antig said.

‘BALSA’ RIDE. With the decades-old hanging bridge recently decommissioned so the city government of Iligan can build a more sturdy bridge, residents of the coastal barangay of Tambacan (left side of the river) ride a “balsa” to cross the narrow Tubod River going towards the old public market and vice versa. Passengers pay three pesos a ride after enduring a long queue. mindanews photo by bobby timonera

Foreign investments in Davao up 43% in 2019

By ANTONIO L. COLINA IV, MindaNews

DAVAO City -- Foreign direct investments (FDI) in the Davao Region surged to P1.823 billion in 2019,

an increase of 43 percent as compared to the P1.2747 billion recorded in 2018, according to the Philippine

Statistics Authority (PSA).

The Davao Region— comprising the provinces of Davao del Norte, Davao del Sur, Davao Occidental, Davao INVESTMENTS/PAGE 11

BAYOG, Zamboanga Sur — The 8,788 members of Timbermines Multi-Purpose Cooperative (TIMULCO), a homegrown multi-million

peso cooperative has all the reasons to celebrate the cooperative’s founding anniversary today.

“We are very fortunate to

reap the benefits of seed sown 25 years ago today, shining radiantly and promising with the Almighty as our CELEBRATES/PAGE 9

Timbermines Multi Purpose coop celebrates 25th years

In an email on Thursday, A nt i g e mp h a s i z e d t h e importance of China as a global market since it has been the top buyer of Cavendish bananas from the Philippines from 2018 to 2019.

Based on the data provided

by PBGEA, Filipino banana exporters had shipped a total of 1.43 million metric tons (MT) of Cavendish bananas, valued at $604.5-million, last year, an increase of 30-percent compared to 1.101 million MT, valued at $467.3 million, in 2018.

Antig explained that one of the reasons for the “disruption” was the fewer nu m b e r o f c o n s u m e r s visiting supermarkets and retail stores, following the COVID-19 outbreak.

Then known as the novel coronavirus 2019 (nCoV-19), the disease was first reported on December 31, 2019 in Wuhan, China.

Antig said the outbreak pulled the prices of Cavendish down, from an average of $8 per box to $1.80 per box last month, causing panic among SHIPMENT/PAGE 11

COVID-19 PREVENTION. Personnel from the Cagayan de Oro City Disaster Risk Reduction and Management Department (CDRRMD) - also known as Oro Rescue conduct temperature checks to attendees of a convention at a restaurant in Limketkai Center here. The measure is part of the government's intervention against CoViD-19 virus. photo by mark francisco

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Local Indonesian consul general visits Cagayan de Oro

I

NDONESIAN Consul General in Davao City Dicky Fabrian paid a courtesy visit to Department of Trade and

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Industry (DTI) Northern Mindanao Regional Director Linda Boniao on February 21, 2020, in the DTI Regional Office in

Cagayan de Oro City.

Consul General Fabrian expressed the consulate’s intent of fostering the bilateral

relationship between Indonesia and the Philippines through various aspects of collaborations such as

Indonesian Consul General Dicky Fabrian and his team give token and local products of Indonesia to DTI-10 Regional Director Linda Boniao. (DTI-10)

events and activities lined up by the Indonesian Consulate General in Davao City for 2020.

These include Wonderful Indonesia: Food, Tourism, and Trade Expo 2020 & Cooking Lesson on July 3-5, 2020; Trade Expo Indonesia 2020 on September 30-October 4, 2020 in Indonesia Convention Exhibition (ICE), BSD, Tagnerang, Indonesia; and Made in Indonesia: Beauty and Fashion Festival 2020 on November 13-15, 2020.

Consul General Fabrian also extended an invitation to DTI to join in the investment and trade mission to introduce investment opportunities of Northern Mindanao in Makassar, Indonesia in April of this year. Other Philippine delegates would include representatives from the private sector, business organizations, and academe.

On the other hand, the Indonesian consulate has been invited by

the city government of Cagayan de Oro to participate in the Kumbira this coming August to exhibit their food and cultural presentation.

The consulate will be bringing over a renowned chef of their country to demonstrate how to prepare and cook Indonesian cuisine.

Additionally, an Indonesian expo is set to be organized next year in Cagayan de Oro. The expo will feature trade opportunities, food, investments, and bilateral agreements for the possible establishment of sister cities and universities.

The courtesy meeting was also attended by Madame Fera Andriani Fabrian; Consul Henny Mulyani, Head of Information and SocioCultural Affairs; ViceConsul Ely Syafitri Handayani, Head of Economic Affairs; Noni Trihardini, Staff for Economic Affairs; Chandra Cipta Nuresa, Staff for Information and Socio-Cultural Affairs; and DTI team composed of DTI-10 Assistant Regional Director Ermedio Abang; DTI Lanao del Norte Provincial Director Ruel Paclipan; DTI Misamis Oriental Officer-in-Charge Provincial Director Almer Masillones; DTI10 Business Development Division Chief Maricris Gabia; and Planning Officer Jayquel Peñaloga.

(DTI-10)

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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Security Bank 2019 Profit Up 17% to Php 10.1B, Revenues Up 33% Driven by Core Income Fourth-quarter earnings increased 16% year-on-year to Php 2.4 billion

S

ECURITY Bank Corporation’s (PSE: SECB) 2019 net profit increased 17% to Php 10.1 billion. Total revenues increased 33% to Php 33.9 billion as core business income continued its growth momentum. Net interest income from customer loans and deposits/ peso bond issuance grew 43% to Php 22.5 billion.

This was driven by the continued growth of retail loans and low-cost deposits.

Retail loans grew 56%, and now account for 29% of total loans versus 20% a year ago. Wholesale loans decreased 2% due to tempered loan demand and disciplined pricing.

Total loans grew 9% to Php 456 billion. Low-cost deposits increased 19% and grew to 45% of total deposits, up from 38% in 2018. Net interest spread on loans and deposits/peso bond issuance in 2019 improved to 5.53%, up 112 basis points year-on-year.

Total net interest income increased 29% to Php 26.8 billion. Net interest margin in 2019 improved to 3.93%, up 66 basis points year-on-year.

Service charges, fees and commissions grew 40% to Php 4.1 billion.

Fee income was driven by credit cards, loan fees, deposit charges and bancassurance. Securities trading gains amounted to Php 1.5 billion, up 320% from Php 366 million in 2018. Total non-interest income increased 49% to Php 7.1 billion.

The Bank set aside Php 4.2 billion for provision for credit losses in 2019, an increase from Php 714 million in 2018, driven by the rapid growth in retail loans and provisions for select commercial sectors.

Pre-provision operating profit was Php 16.6 billion, up 41% from a year ago.

Excluding gross receipts and documentary stamp taxes (GRT and DST), the cost-to-income ratio improved by over five percentage points to 42.2% from 47.5% in 2018.

Operating expense grew by 18% driven primarily by manpower cost which increased 13%. Headcount increased by 722 primarily to support growth of the retail banking business and transformation of the Bank's infrastructure, processes and culture.

Manpower now stands at 6,625.

Including GRT and DST, the cost-to-income ratio improved by over two percentage points to 51.1% from 53.9% in

2018 even as operating expense grew 26%. A key driver of expense growth was GRT and DST which caused taxes and licenses to increase by 79%.

Return on shareholders’ equity increased by 80 basis points to 8.9% from 8.1% in 2018.

Fourth-quarter earnings up 16% from year ago Q4-2019 net profit increased 16% from a year ago to Php 2.4 billion.

Total revenues rose 43% year-on-year to Php 9.8 billion, driven by core income. Net interest income from customer loans and deposits/peso bond issuance increased 50% to Php 6.6 billion.

This drove total net interest income to grow 44% to Php 8 billion.

Net interest spread on loans and deposits/peso bond issuance in Q4-2019 improved to 6.14%, up 142 basis points year-onyear and 43 basis points quarter-on-quarter.

Net interest margin in Q4-2019 improved to 4.52%, up 114 basis points year-on-year and 47 basis points quarter-on-quarter.

Service charges, fees and commissions increased 28% to Php 1.2 billion.

Provision for credit losses was higher at Php 2.4 billion in Q4-2019 versus Php 487 million in Q4-2018.

Pre-provision operating profit was Php 5.3 billion, up 65% from a year ago.

Excluding GRT and DST, operating expense grew 21% year-on-year.

Including GRT and DST, operating expense increased 24%.

Fourth-quarter net profit 12% below previous quarter Compared to the previous quarter, Q4-2019 net profit was 12% lower due to higher provisions for credit losses of Php 2.4 billion in Q4-2019 versus Php 1.1 billion in Q3-2019, driven by the growth in retail loans and provisions for select commercial sectors.

Pre-provision operating profit was Php 5.3 billion, up 28% from a quarter ago.

Total revenues increased 11% quarteron-quarter to Php 9.8 billion. Net interest income from customer loans and deposits/peso bond issuance grew 12% to Php 6.6 billion. Total net interest income was up 14% to Php 8 billion.

Service charges, fees and commissions grew 19% to Php 1.2 billion.

Excluding GRT and DST, operating expense PROFIT/PAGE 11

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Opinion

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

Yesterday (March 1, 2020) Muntinlupa marked its 25th anniversary as a highly urbanised city. When I assumed office as OIC Mayor in June 1986, Muntinlupa was still classified as a fifth class municipality. It was earning approximately P28 million per year which was hardly sufficient to pay for the salaries of municipal employees. Thus, during my f irst two ye ars (as OIC), I focused on growing Mu nt i n lup a’s i nc ome, employing best practices to improve tax collection.

We were among the very first LGUs to computerise,

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The wonders of work (pt. 1) Think a minute . . . The f a m o u s w r it e r G e o r g e Bernard Shaw said: “When I was a young man I observed that 9 out of 10 things I did were failures. I didn’t want to be a failure, so I did 10 times more work!”

All successful people say the same thing: “Luck is what you make of it with hard work.” As important as a good education is, it does not guarantee success. In every kind of career there are successful people who had little natural talent to begin with, but the most important thing they had was the desire and discipline to keep working toward their full potential and success.

T h e re i s s i mp l y n o substitute for hard work.

Even if you naturally know how to charm and get along with people, you still must do the work and finish the job well. If you are naturally smart in school, you still have to spend time and effort learning the new knowledge.

If you do not have a lot of natural talent or ability, then you must work even harder.

It is a clear, vital fact of life.

A good worker’s best

THINK A MINUTE

JHAN TIAFAU HURST friend is time. He learns not to waste or misuse his time, because he knows if he “kills time” he kills his chances for success! The great inventor Thomas Edison often worked when most people slept. In fact, Edison usually did not sleep more than 4 hours a night. He said that too much sleep made him lose time, opportunities, and ideas.

Most of us cannot work that many waking hours of every day, so we need to learn to make even better use of our time. The Greek philosopher Plato said: “One of the saddest things in life is a man who spends much of his time on things that are not important.”

So why waste one more WONDERS/PAGE 11

to adopt the One Stop Shop system for paying taxes, and the Real Property Tax Administation system (RPTA) recommended by the Department of Finance (DOF).

Thereafter, for years in a row, the DOF rated Muntinlupa as Best in Realty Tax Collection Efficiency.

Thereafter, for years in a row, the DOF rated Muntinlupa as Best in Realty Tax Collection Efficiency. Muntinlupa’s income grew rapidly so that by the time we applied for cityhood in 1994 our yearly income based on 1991 constant prices was

P88 million plus – way above the minimum requirement.

At that time, the minimum income qualification to convert to a city was only P50 million for two consecutive years. The threshold was raised later to P100 million.

With our qualification, we were able to aim for the status of a first-class highly urbanized city (HUC). As HUC, Muntinlupa would be entitled to more autonomy (compared to a component city (CC)). A component city remains part of a larger government unit, like a province. On the other hand, Muntinlupa would

SPEAKING OUT

IGNACIO BUNYE have its own city charter, (thus independent of any province) and would also be entitled to its own legislative district.

CITYHOOD/PAGE 11

Ignorance is more expensive than education

Editor-in-Chief

Motoring Editor

MONDAY|MARCH 2, 2020

Muntinlupa's road to cityhood

NELSON CONSTANTINO GILBERT Y. CHAO

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PROF. ENRIQUE SORIANO There are many proverbs to describe the challenges faced by family businesses in building wealth and leaving a lasting legacy. The Chinese say “wealth never survives three generations,” while the Italians say “from the stables to the stars and back to the stables.” Their languages may vary, but the behavior offers a lot of parallelism. On a positive note, there is also a Chinese proverb stating that one has to govern his family as you would cook a small fish – very gently. And the saying highlights one thing... the need for leaders to focus on "people and intellectual assets." We refer to these assets

as talent within the family that can help preserve wealth and promote stewardship.

One good example that leaders must do is to eliminate next generation entitlement like not spoiling children who will be future successors of the business. The key is to teach them the value of money and encourage them to study hard and prepare themselves for future leadership roles.

A l l ove r t he worl d, t he stor y is t he s ame: entrepreneurs start from nothing and build a business; their children maintain the business – and a wealthy lifestyle; their grandchildren grow up in affluence and lack the inclination to work and be responsible – and end up losing the business and the wealth. To quote family governance advocate Gale Petronis “in a family business, it’s the third generation that presents the big problems.

The first generation founds the company and has the drive and the dedication to move it forward. The second generation rides that wave.

The third generation wants to

do their own thing. They’ve seen Broadway; they’ve had all the advantages.”

“Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it.” This classic quote by George Orwell can apply in family businesses as well as life. But traditional family businesses make the mistake of focusing on a single family unit and neglect a very crucial transition to a multi-generational and extended family phase. What would happen if your family prepared a plan for the next four or five generations?

Should it be better if you think way beyond your generation?

A couple of years ago, I initiated a plan for a family business based in Singapore where the patriarch at 72 specifically requested that I help the family craft a family plan spanning 30 years! The year after, a colleague based in Hong Kong requested me to collaborate with him in preparing a family growth plan covering 50 years! I

admire remarkable leaders that think beyond their lifetimes!

There are specific tools and guidelines that family businesses can follow to help them succeed through generations and family business expert John Davis opines that the ‘secret sauce’ of long-term business success can't be captured in numbers but through three main ingredients: Growth, Talent and Unity.

These ingredients are inextricably linked to enhancing human assets.

Growing the wealth by focusing on family development refers to strengthening family functioning as a foundation for the preser vation of family wealth. That way, each succeeding generation can become another “first generation” – bringing some form of survival instinct, creativity, dynamism, drive and maturity to the enterprise.

I will end this article with a powerful quote from Ben Franklin, “the only thing more expensive than education is ignorance.

Assuming Christ's identity THERE’S no doubt about it.

We are meant to assume the identity of Christ, because he is the pattern of our humanity and the savior of our damaged humanity. We can only be as we ought to be when we assume Christ’s identity. That is to say, when Christ and us become one.

A fantasy? A gratuitous exaggeration? Would we not fall into some grave presumption here or some psychological disorder?

Such reactions, of course, are understandable. As they say, we are only human (sapagkat kami’y tao lamang), and so we can never aspire to be like Christ, much less, to be Christ himself.

But Christ himself said so in so many words. “He who hears you hears me,” he said, “and he who rejects you rejects me, and he who reject me rejects him who sent me.”

(Lk 10,16) Though spoken directly to his apostles, such words can also be addressed to all of us.

More t han t hat , h is ardent prayer before he

entered into his passion and death was that we be one with him and he is one with his Father. “…that all of them may be one, as you, Father, are in me, and I am in you. May they also be in us…that they may be one as we are one, I in them and you in me, so that they may be brought to complete unity…” (Jn 17,21.23) That is why St. Paul went to the extent of saying he had the mind of Christ. “For who has known the mind of the Lord, that he may instruct him?” he asked.

“But we have the mind of Christ.” (1 Cor 2,16) And what is to have the mind of Christ? St. Paul offers some ideas.

“Let this mind be in you, which was also in Christ Je s u s ,” h e s ai d. “Wh o, being in very nature God, did not consider equality with God something to be used to his own advantage; rather, he made himself a servant, being made in human likeness. And being found in appearance as a

man, he humbled himself by becoming obedient to death—even death on a cross!” (Phil 2,5-8) To be like Christ, to have his mind, to assume C hr ist’s ident ity, to b e “another Christ” as some theologians have described what the ideal is for us is to be humble, to be obedient, to love everyone, including the enemies, to be willing to suffer for all, to preach the truth, to have the attitude of wanting to serve and not to be served, etc.

To be sure, for us to be ‘another Christ’ is not our initiative. It is God’s initiative for which he has given us all the means for it to take place. He has given us his word and his sacraments. He has given us the Church and the many instrumentalities it possesses.

In the end, he has given us Christ himself, the living Christ who offers his life for us, in the Holy Eucharist.

Christ makes himself so available to us that we can

HINTS AND TRACES

ROY CIMAGALA have him for the taking.

We really have no reason w hy we cannot assume Christ’s identity. Of course, we have to do our part. We have to want and to love him. Before that, we have to know him more and more, perhaps through regular reading and meditation of his life and teaching as contained in the gospels. Not only should we be familiar with his words and deeds, but should also make those words and deeds as our own.

This will require a certain plan of life that will always bring us to Christ IDENTITY/PAGE 11

5 Magsaysay Animal Quarantine station, operational na Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

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OPERATIONAL na ang Magsaysay Animal Quarantine sa Sta. Cruz, Magsaysay, sukad Pebrero, 26, 2020.

Tumong niini nga mapalig-on ang kampanya batok sa pagsulod ug gawas sa binuhing mananap nga apektado sa nagkadaiyang virus susama sa African

Swine Fever (ASF), bird flu, ug uban pa.

Ang Provincial Veterinary Office sa Misamis Oriental, kauban usab ang mga kawani sa Municipal Veterinary sa Magsaysay ug ang LGU Magsaysay, maoy nagdumala sa nasangpit nga kwarentinas nga

gitukod nunot na usab sa kamanduan ni Gobernador Bambi Emano.

Mokabat sa kinatibuk-ang kantidad nga P7 milyones kung diin ang maong gambalay sa pagkakarun migasto pa lamang sa P3.5 milyones nga adunay gidak-on nga 300 metro kwadrado.

Tanan sakyanan nga muagi sa quarantine station nga aduany karga, pangayoan sa papeles ug kung wala kini kumpleto nga papeles, dili kini mahimong molabang ug mahimong kompiskahon ang karga niini sa suspetsado nga nagbitbit sa kagaw.

Outgoing Miss Liceo Diamond Meg Bacareza crowns France Mirah Quines as the new Miss Liceo Tanzanite in ceremonies held Monday at Liceo Civic Center in Cagayan de Oro City. The program is part of the 65th founding anniversary celebration of Liceo de Cagayan University. photo courtesy of liceo u student press

Ang kwarentinas dakung tabang sa paningkamot ni Gobernador Bambi Emano nga dili mataptan sa bisan unsang matang sa sakit ang mga

binuhing mananap sa katawhan sa Misamis Oriental, hilabina intawo niadtong mao lamang ang gisaligan sa ilang panginabuhian.

Sol Silgrid Sumalhay of Xavier University (center) is crowned 16th MISSCON Ambassador 2020. Flanking her are first runner-up Mary Barbette Baldestamon (right) of Mindanao Kokusai Daigaku and second runner-up Regina Francisco of Ateneo de Zamboanga University (left). MISSCON is the Mindanao International Studies Society Convention, which pools together all International Studies college students from the island in an annual gathering. photo by mark francisco

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MOTORING IN-DEPTH

Monday|March 2, 2020

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7 Things That Make the Suzuki Dzire An Ideal Daily Driver

N

ot all cars are created equal.

There are some vehicles that were designed to serve a specific purpose. Yet, there are those that are intended for general use. Here are some of the features that make the Suzuki Dzire an excellent runabout vehicle: 1. Fuel Efficiency.

The Dzire was able to achieve a remarkable 25.81 kilometers per liter during Suzuki’s internal test that was observed and certified by the Automobile Association of the Philippines (AAP).

Of course, actual fuel consumption varies depending on driving conditions but even only half of the rated figure is still a doubledigit mileage.

2. Comfy Seating for 5. The cabin is quite spacious for a small car.

There’s plenty of head room and legroom for all occupants. The air conditioning vent for passengers at the back help keep the interior

cool even when driving under the sun.

3. Peppy Engine.

The improved K12M engine is more compact with increased fuel efficiency compared to the previous model. It is equipped with direct action intake VVT, 4 Cylinder, DOHC, 16 valve that delivers a maximum 82 hp of power and 113 nm of torque.

4. Auto Gear Shift. You get the convenience of an automatic transmission and the level of control and efficiency of a manual. You can also engage the manual mode to enable you to shift gears as you please.

5. Pedestrian Injury Mitigating Body. The structure of Dzire’s bonnet, front windscreen wiper area, front bumper and other parts absorb impacts with the aim of mitigating head and leg injuries in the event of a collision with pedestrian.

6. New-generation

Platform HEARTECT. The Dzire rests on a new-generation platform “HEARTECT” that delivers enhanced fundamental vehicle performance due to being light and highly rigid. A continuous frame that increases underbody stiffness.

The new frame is characterized by a

smooth, curving form that effectively disperses impact energy in the case of a collision. This greatly contributes to lower fuel consumption with vast improvements to the fundamental vehicle performance in terms of running , turning and stopping.

7. Styling with

Character. The front incorporates a wide open grille with an aggressive bumper that truly fits in with the authentic sedan styling.

The increased overall width emphasizes the boldness of the lower body and the compact cabin. The rear styling features a skirt-like bumper which catches

the energy from the front and expressive side character lines.

The Suzuki Dzire is available in the following variants: Dzire GA 1.2L - M/T P549,900 Dzire GL 1.2L - M/T P638,000 Dzire GL+ 1.2L Auto Gear Shift (AGS) P698,000

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Celebrates... from page 1

source of strength for all our blessings, the source of all our joy, the source of all our effectiveness,” said General Manager Marilyn FernandoMananay.

This was echoed by Board Chairman Mario A. Baterna by saying that TIMULCO has stayed on the right track for 25 solid years following the Cooperative Values and Principles in its operations.

Chairman Baterna revealed that the cooperative total assets grew more than Php 224 Million Pesos with 8,788 proactive members spread out in the provinces of Zamboanga del Sur, Zamboanga Sibugay and Zamboanga del Norte of Region 9.

“The operation of TIMULCO has tremendously increased in terms of asset growth, high liquidity, lower delinquency, high operational self-sufficiency and profitability that ensured TIMMULCO’s stability and sustainability” General Manager Mananay said.

TIMMULCO is always on the forefront in helping take shape our local economy particularly in terms of providing accessible and multifaceted services, and creating job opportunities, Chairman Baterna added.

Even as it celebrates the 25th year of its existence, TIMULCO has always risen to so many challenges.

“Our cooperative has constantly thrived and achieved indelible mark of success through good governance

exemplified by our Board of Directors. The productiveness and innovativeness poured-in by the Management, the values of cooperation and solidarity of our members and above all, the marvelous grace and faithfulness of the Almighty are the pillars of our strength in the arduous journey towards our dream to make all coop members enjoy better quality of life”, General Manager Mananay said.

“Commitment reveals results, results reveal commitment.”

The journey of TIMULCO over the years was not without roller coaster experiences but these challenges has transformed our cooperative to a more stronger and stable at it focused on nurturing our resolve to achieve the status of what it is today, Chairman Baterna said.

In 1995, 41 members founded TIMULCO that evolved into a successful community cooperative over the years.

COOP HISTORY Way back in 1992, our country suffered an economic crisis. There was a spiraling increase of prices of prime commodities. Lowly-paid government employees had to strive hard from their meager income, and many resorted to borrowing from moneylenders, who charged very high interest rates.

To address this situation, Conchita Aleluya-Sucaldito, Municipal Social Welfare and Development Officer and Melly Galambao-Madamba, the Population Outreach Worker of the municipality, initiated the creation of the local cooperative movement.

It was started with 10 employees contributed equal sums of money and bought groceries directly from a wholesaler. They found out that the groceries were actually much cheaper because they had cut off the middleman's profit. As news of the benefits of self-help spread, more LGU-employees joined the group.

In 1995, the membership increased from 10 to 41 active members. An assembly meeting was called on July 1995 to inform the members that the group should be officially registered to the Cooperative Development Authority (CDA) in order to have its legal identity.

The Timbermines MultiPurpose Cooperative (TIMMULCO) was officially registered on September 12, 1995 to the Cooperative Development Authority with CDA Registration No. PAG 1135-95.

2019 FINANCIAL PERFORMANCE HIGHLIGHTS TIMMULCO achieved exceptional result in 2019 by achieving improvements in its key performance indicators: Based on audited figures, TIMMULCO total assets grew to Php224.3 million at the end of 2019 from P166.1 million in 2018 which increased by 35%.

With a big leap, TIMMULCO’s net income as of end-December 2019 increased by 30.78% to Php6.641 million from P5.078 million in 2018. This translates to a Return on Equity of 11%, which remains above the latest inflation rate and within the regional trend. The net loan portfolio expanding significantly by 23%

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region OFFICE OF THE CLERK OF COURT EX-OFFICIO SHERIFF Tubod, Lanao del Norte NOTICE OF EXTRA – JUDICIAL SALE (EJF No. 225-07-2020) Upon the Extra Judicial Petition for Sale under Act 3135, as amended, filed by the 1st VALLEY BANK, A DEVELOPMENT BANK, Baroy Branch, Baroy, Lanao del Norte against ELIZABETH ROULLO-CATIGBE, of legal age, widow and a resident of 217, Purok 8, Maslog St., Kauswagan, Lanao del Norte, to satisfy the indebtedness which as of September 22, 1998, amounting to ONE HUNDRED THIRTY THOUSAND (P130,000.00) PESOS ONLY excluding penalties, charges, attorney’s fee and expenses of foreclosure, the undersigned or his duly authorized deputy will sell at Public Auction on 4th day of May, 2020 at 10:00 A.M. or soon thereafter at the Regional Trial Court, Branch 07, Provincial Capitol of Lanao del Norte, Pigcarangan, Tubod, Lanao del Norte, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all its improvements, to wit: LIST OF MORTGAGED PROPERTY T.C.T. No. T-17,925 Lot No. A-3, Psd-12-011155 “A parcel of commercial lot situated in Barangay Poblacion, Municipality of Baroy, Province of Lanao del Norte, Island of Mindanao containing an area of ONE THOUSAND THREE HUNDRED EIGHTY (1,380) SQUARE METERS, more and less, including all the improvements found thereon, more particularly described and bounded as follows; Bounded on the SW., along line 1-2 by Lot A-4 of subdivision plan; on the NW along line 2-3 by Lot D (LRC) Psd-106923; on the NE., along line 3-4 by Lot A-14 and on the SE., along line 4-1 by Lot A-14 of subdivision plan.”

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

In the event that the Public Auction cannot take place on the said date, it shall be held on June 1, 2020 without further notice.

Tubod, Lanao del Norte, Philippines, this February 21, 2020.

BWM: Feb. 24, Mar. 2 & 9, 2020

ATTY. AISA B. MUSA-BARRAT Clerk of Court VI and Ex-Officio Sheriff By: ROY B. MADRONA Sheriff IV

or more than Php 28.7 million to reach Php 153.9 million. Its net income could have been higher due to the significant growth in loans.

Attributed the increase in income and total assets of TIMMULCO is growth in membership which surged by 48% to 8788 at the end of 2019 from 5933 in 2018.

In term of deposit TIMMULCO grew significantly by 26.40% to reach Php138.5 million from Php109 million as members deposits increased. Share Capital also increased by 12.19% to Php46.8 million from Php39.4 million. The loan delinquency rate slightly increase to 8.10% at the end of 2019 from 7.2% in 2018.

TIMMULCO’S steady growth in deposits and share capital contributions from Members who invest their trust to TIMMULCO that lead to 1.8% rate of external borrowings over total assets as the year ended in 2019.

This gives us the privilege and opportunity to continue to be a channel of greater financial services to our Members and higher rate of return of Member’ share in coming years, General Manager Mananay said.

BOD Chairman Baterna said TIMMULCO continues to focus on achieving its strategic goals to sustain excellent financial services to its members through its efficient and cost-effective operations, maintenance of a substantial portion in its loan portfolio for priority sectors in the next five years.

TIMMULCO will fuel economic activity in the rural and agricultural areas by providing financial and technical services to farmer/ members through integrated and sustainable farming model, agro-entrepreneurship, rice milling, trading and marketing, and its support to development programs of the government.

The TIMMULCO’s heartwarming history is the inspiring providential legacy, which demonstrated what united efforts, unswerved cooperation, shared aspirations and dedicated service could accomplish to hurdle the obstacles towards the destined path to progress.

With TIMMULCO’s success story is the profound lesson that there is no elusive dream in the task of building hopes, creating better lives and empowering the members and their families towards the achievement of a genuine socio-economic advancement among the country’s marginalized rural communities, Chairman Baterna added.

AWARDS AND RECOGNITION TIMMULCO received numerous awards in the areas of service, process improvement, community involvement, among others.

TIMMULCO was awarded the Most Outstanding Cooperative in Region 9, Excellence in Providing Financial Inclusion Services, Excellence in Membership Growth and Expansion Program.

TIMMULCO ACTIVITIES, PROJECTS, AND INITIATIVES THAT PROMOTE SOCIAL AND ECONOMIC DEVELOPMENT IN THE COMMUNITY This Cooperative seriously adheres to its programmed social and economic responsibilities to the communities, the following

undertakings and community service programs were initiated and implemented by TIMMULCO: AGRI-ENTERPRISE DEVELOPMENT THROUGH CLUSTERING APPROACH (FROM AGRICULTURE TO AGRIENTERPRISE) Agriculture is a crucial sector for global development as “farmers feed the world”.

According to statistics, Agriculture is also the second greatest source of employment worldwide.

TIMMULCO started this program on the fourth quarter of December 2019. From Agriculture to Agri enterprise, it has been observed how important is working with markets for profitable farming since there is growing recognition in government and private institutions in helping farmers and that it is no longer enough to just extend support to farmers in helping them improve their farm yields.

TIMMULCO in partnership with MASS-SPECC Development Cooperative and Department of Agriculture initiated agrienterprise approach where farm production is combined with business management so that farm products are competitive in the market and their harvest bring them more income.

NEWLY TURNEDOVER COMBINED RICE HARVESTER AND RECIRCULATING DRYER The Department of Agriculture turned-over Combined Rice Harvester and Recirculating Dryer to support TIMMULCO in its farming operations under their priority agricultural mechanization program that aims in pursuing “Mataas na ANI at Malaki na KITA”.

TIMMULCO PINOY AUTOMATED TELLER MACHINE (ATM) One of the laudible achievements of this Cooperative in the year 2011 and was considered a breakthrough or miliestone that successfully encouraged entrepreneurialism among our members and contributed significantly to the economic growth is the Brand New TTIMMULCO Pinoy Coop ATM that was launched on July 16,2011, provides convenience even to the indigenous people living at far-flung barangays.

It helps the members manage their accounts and provide easy access to cash. The ATM also helps ssome entrepreneurs’ businesses flourish in Bayog, Zamboanga del Sur. TIMMULCO Pinoy Coop ATM that was launched on July 16,2011, provides convenience even to the indigenous people living at far-flung barangays.

It helps the members manage their accounts and provide easy access to cash. The ATM also helps ssome entrepreneurs’ businesses flourish in Bayog, Zamboanga del Sur. NEWLY PURCHASED 6-HECTARE AGRICULTURAL LAND One of the strategic goals of TIMMULCO is to establish Integrated Farming and Eco-friendly Agriculture for Economic and Environmental Security thus, TIMMULCO just purchased 6 hectares of agricultural land at Mahayahay, Kumalarang, Zamboanga del Sur on December 10, 2018. The farmers/members of TIMMULCO

will be the ultimate beneficiaries of the project.

The main components of the program include learning center for farmers, eco-therapy through organic farming, livelihood opportunities, job generation, imbibe the culture of entrepreneurship in agriculture and other interventions needed by the member/farmer NEWLY INAUGURATED PET BOTTLE MANUFACTURING PLANT In December 8, 2018, the Board of Directors and Officers made a bold decisive move to purchase one-unit commercial building at National Highway, Buug, Zamboanga Sibugay to open a Petbottle Manufacturing Plant to serve the need of the SME in Region 9. The said plant was inaugurated on November 9, 2019.

LOOKING AHEAD As we advance our journey for more successful years towards excellence, TIMMULCO is geared toward big moves in the coming years.

The following are our commitments: • TIMMULCO shall continue to be at the center of social and economic transformation, and provide equal opportunities for all.

• Our Cooperative shall endeavor to remain successful by having decent bottom line to grow and be of service to our members.

• TIMMULCO shall be a part of the social safety net to provide quality products and services, at lower costs thereby helping mitigate the cost of living.

These are our social indicators.

We must continue to adhere to these guiding principles.

• We must plug into the national and regional network to explore new opportunities.

Organizational structures need to be re-examined so that they are flexible enough to adapt to the increasing pace of changes. This would mean a new paradigm shifts. Most importantly, TIMMULCO needs to invest in our people and equip them with the latest knowledge, skills and capabilities. By doing so, TIMMULCO will be able to further enhance its image of being socially responsible.

• Apply good governance principles and practices and work towards the development of high governance standards.

It is about gaining the TRUST of all Members, employees, business associates and the community at large.

•There must be internal controls to ensure that there is proper and efficient structure in the decision-making processes, feedback and reporting, risk assessment of activities carried out, limits of authority, post-implementation audits of decisions and fraud prevention and more.

• Cooperative's good governance is about continuity.

To ensure that, governance must encompass identifying successors to key positions, as well as training, grooming and retention of human capital. This is consistent with our vision to make all members enjoy better quality of life.

Our journey continues and we look forward to these trends as we continue to strive and work in the next 25 years, and beyond.

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Monday|March 2, 2020

Facts in the Service of the Planet:

10

Speak the Truth about the Environment to Power

By MIKE BAÑOS

IN HIS introduction to the 1999 UN Environment Programme (UNEP) study on the environmental consequences of the Kosovo conflict, Balkan Task Force chairman Pekka Haavisto reflected that: “Perhaps the most endangered natural resource in times of war is truth”. https://ceobs. org/the-weaponisationof-environmentalinformation-in-the-eraof-fake-news/ In the second opening plenary session of the ongoing 3rd Philippine Environment Summit, veteran journalist Horacio "Howie" G. Severino presented a parallel

situation now pervading not only Philippines, but many countries around the world as well.

Best known for his work with the Philippine Center for Investigative Journalism, the Probe Team, and the GMA Network in print, television, and online media, Severino explained in his presentation ‘Facts in the Service of the Planet’ that even for environmental issues, the one wields power over truth dictates how society will respond to them.

"Environmental issues [are] all about inter-connectedness. In our society, the big and

powerful still bully the small.”

He cited how walking on the streets is a very personal experience.

‘The driver has power over the life and death of a pedestrian. It is not about being rich and poor, it is always about being in the position of power.

Even in environment, one solution is to speak truth to power.”

Most recently, this was demonstrated by the Wuhan doctor who discovered the coronavirus but was silenced by those in power.

"Every disaster movie begins with a scientist being ignored. We are currently under a global

disaster going out of control. This was earlier reported by Wuhan doctor Li Wenliang who warned about the .coronavirus but was censored by Chinese authorities. He has been was hailed a hero [because] he spoke truth to power."

Severino explained how all of us living in an information ecosystem that is very difficult to navigate because so much is false.

‘I shared some experiences in how we seek the truth in this kind of environment. We have to promote traditional values, especially the love for the truth because it is being devalued.”

TRUTH/PAGE 11

11

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MONDAY|MARCH 2, 2020

Wonders... from page 4

minute of what is left of your life? Ask Jesus to forgive you for not living the way you know you should. Then ask Him to take charge of your character and way of living.

Since He is your Maker, He knows how to help you work hard, and work smart, so your life will work right— according to His awesome plan for you. Just think a minute . . .

Identity... from page 4

whatever the situation and circumstance of our life.

But it would not be wrong if very often during the day we remind ourselves, “I am another Christ. I have to see things, understand them and react to them, as Christ would!” We have to overcome the initial awkwardness to enter into the ultimate reality meant for us.

Cityhood... from page 4

or CC, a bigger share of the Internal Revenue Allotment (IRA). If memory serves, just by converting into a city, Muntinlupa’s share of the IRA immediately increased

by P100 million yearly.

The process of applying for cityhood started with the passage of a resolution passed by the municipal council, accompanied by the municipal treasurer’s certification to Congress that Muntinlupa possessed the minimum qualification, as to income. A certification from the Statistics Office, regarding population (at least 150,000), was also needed.

The resolution was immediately provided by the municipal council which was then headed by Vice Mayor Jimmy Fresnedi.

The local political opposition, however, strongly opposed cityhood in the mistaken belief that cityhood would allow me to run as city mayor after 1998, when my third term as municipal mayor would have ended.

The proposed cityhood of Muntinlupa was actively supported in the House of Representatives

by Congressman Ciriaco Alfelor (Catanduanes), Chair of the Local Government Committee, and Elias Lopez (Davao City) and Ceferino Padua (Agusan del Sur), members. Senator Raul Roco sponsored the counterpart bill in the Senate.

To give credit where credit is due, Majority Floor Leader Raul Corro, then the municipal attorney, quarterbacked the whole process from start to finish - from the solicitation of legislative sponsors to preparing the groundwork for the public hearings that were held in Muntinlupa. He also participated actively in the public information campaign leading to the plebiscite which approved cityhood. If I am the Father of the Cityhood of Muntinlupa, Atty. Raul Corro is its Architect.

The approval of the House

version of the cityhood bill went without any hitch. But the final proceeding at the Senate was intense with drama and suspense. The cityhood bill was calendared for third and final reading on the very last day of the session of the Senate before Congress adjourned. It was now or never. I, then Vice Mayor Jimmy Fresnedi, majority of the council, and the department head attended in full regalia, expecting easy sailing for our cityhood. We could not have been more wrong.

What we all thought would be a walk in the park turned into a tortuous wait. Earlier in the day, around 9 a.m., a senator told me: “Your cityhood is as good as dead!”

I dismissed the remark. I thought he was just kidding.

After all, he was my Aquila Legis fraternity brod at the Ateneo law school. The remark, however, started to assume the proportion of an actual threat when we were made to wait for hours and hours.

At 15 minutes to midnight (!), my brod approached me.

He said: “Brod, you can still save your cityhood. That is, if you will agree that Muntinlupa’s representation in Congress will be effective in 1998 and not in 1995, as originally provided in the bill.”

I had to make a quick decision. After consulting with Vice Mayor Fresnedi and the councilors present, I agreed to the proposal. At 2 minutes before midnight, a m ot i on t o approve Muntinlupa’s cityhood was made and, thereafter, unanimously approved.

P r e s i d e n t F i d e l V. R a m o s , M u n t i n l u p a’s favorite resident, signed the Muntinlupa Cityhood Law on March 1, 1995. He was not aware, however, of the drama that happened on the Senate floor.

(Note: You may wish to share the foregoing article via Facebook, Twitter or LinkedIn. )

Profit... from page 3

decreased 2% quarter-onquarter. Including GRT and DST, operating expense decreased 3%.

Balance sheet remains strong Asset quality remains healthy. Non-performing loans decreased by Php 1.2 billion or 18% from Php 6.5 billion in Q3-2019 to Php 5.3 billion in Q4-2019. The gross NPL ratio decreased to 1.17% in Q4-2019 from 1.4% in Q3-2019 due to payments and recoveries. The Bank’s gross NPL ratio of 1.17% was lower than banking industry’s 2.09% as of December 2019.

NPL reserve cover was at 106% versus 110% a quarter ago and 111% a year ago.

Inclusive of reser ves in Retained Earnings, NPL reserve cover was 160% versus 146% a quarter ago and 216% a year ago.

Total deposits grew 2% year-on-year to Php 499.6 billion. During the year, the Bank issued a total of

Php 8.37 billion in LTNCDs and Php 18 billion in peso corporate bonds to diversify its funding base, extend its liability tenors and support business expansion.

The liquidity coverage ratio of 115% and the net stable funding ratio of 113% were both above the regulatory requirement of 100%.

Security Bank continues to be among the country’s best capitalized private domestic universal banks.

Common Equity Tier 1 Ratio was at 16.9% versus 17.1% a quarter ago and 16.4% a year ago. Total Capital Adequacy Ratio (CAR) was at 17.9% versus 18% a quarter ago and 18.7% a year ago. Leverage ratio of 13% was above the regulatory requirement of 5%. Total assets increased 3% year-on-year to Php 793 billion. Shareholders’ capital increased 8% to Php 118 billion.

Security Bank paid cash dividends of Php 1.50 per common share on November 28, 2019, representing regular semestral cash dividend of Php 1.00 per share and a special cash dividend of Php 0.50 per share. This brought total cash dividends paid during the year to Php 3.00 per common share for a dividend payout ratio of 26% of 2018 net income.

Security Bank has a total of 308 branches and 841 ATMs as of December 31, 2019.

Shipment... from page 1

small banana growers.

But he added the market situation is picking up after the operations in more ports normalized, supermarkets and retail shops reopened, and banking services resumed.

He said banana exporters in Mindanao believed “banana remains as the most in demand fruit in the market after vegetables followed by apple and citrus as people consume more healthy foods to strengthen their immune system amidst the corona virus infection scare. “ He said Chinese importers expressed optimism the disease would not affect demand for Phi lippine bananas on a long-term, and compared the current Covid-19 outbreak to the severe acute respirator y syndrome outbreak in 2002 that did not see a “long-term downward trend for bananas from the Philippines.”

He said Chinese importers had allayed fears of some Filipino exp or ters that the outbreak would cause closure of the China market as this option is “costly and unstable.”

Early in February, the Xiamen Airlines suspended for one-month the twiceweekly Davao City-JinjiangDavao flights to prevent the spread of the disease.

The suspension may have temporary repercussions on the growing economic cooperation between the two sister cities, Chinese Consul General Li Lin said.

Li said that aside from tourists, several Chinese bus i ne ss me n and e ve n

government officials who are exploring possible business and economic partnerships would fly directly to Davao via Davao-Jinjiang-Davao flights.

“We have not only tourists but also businessmen and government officials who are making official visits as well, the suspension, of course, will bring an impact to both tourism and economic cooperation,” he said.

But Li believed the adverse impact of the suspension would not deter future cooperation as soon as the outbreak would be put under control.

Investments... from page 1

Oriental, Davao de Oro, and the chartered City of Davao— posted the second-highest FDI in Mindanao, next only to Northern Mindanao.

The five-province Northern Mindanao recorded a major drop in foreign investments from P64.6 billion in 2018 to P2.6 billion last year.

Davao City Chamber of Commerce and Industry Inc. (DCCCII) president John Carlo Tria said the increase in FDIs showed that “investors are attracted to us and our investments potentials.”

Tria expressed confidence the growth would continue this year as more infrastructure and connectivity projects are currently being built.

Na t i o n a l E c o n o m i c Development Authority (NEDA)-Davao director Maria Lourdes Lim earlier said they projected the region to grow between 9.5 and 10.5% for 2019 despite a series of major earthquakes last year that affected the property development sector, one of its major growth drivers.

The PSA is expected to release a report on the Davao Region’s economic performance by March this year, she said.

Lim said that the macroeconomic fundamentals of the region—which comprises 5 provinces, 6 cities, and 43 municip a lit ies—had remained stable at the end of 2019.

Data from PSA also revealed that Region 12’s FDI grew by nearly three folds from P106.3 million in 2018 to P280.1 million last year, while the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) posted P306.9 million in foreign investments last year from P235.1 million in 2018.

The PSA did not provide data for Zamboanga Peninsula and Caraga Region.

Overall, the country’s approved foreign investments reached P390.110 billion in 2019, growing by 113 percent from P183 billion recorded in 2018.

This growth in investment pledges came from the seven i nv e s t m e nt p r o m o t i o n agencies (IPAs), namely: B o a r d o f I nv e s t m e nt s (BOI), Clark Development Corporation (CDC), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority

(SBMA), as well as the Authority of the Freeport Area of Bataan (AFAB), BOIBangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), and Cagayan Economic Zone Authority (CEZA), according to PSA. Investments from Singapore valued at P176.362 billion accounted for 45.2 percent of the total approved FDIs. China came second highest at P88.674 billion or 22.7 percent of the total FDIs, followed by South Korea (P41.479 billion) and Japan (P19.885.7 billion).

Ford... from page 12

in the city while remaining a formidable force in off-road environments.

For driver comfort, the new Everest Trend comes with an 8-inch color touchscreen, USB ports, as well as SYNC 3 with Apple CarPlay and Android compatibility. SYNC is Ford’s proprietary voiceactivated system that allows ease of access to the vehicle’s entertainment system and connected devices while driving on the road.

The new Everest Trend also boasts a handful of DATs and safety features which include Cruise Control, Electronic Stability Control with Anti-lock braking system, Electronic Brakeforce distribution (EBD) and Roll Stability Control, and Hill Launch Assist.

Availability and pricing The new Everest Trend is available in all Ford de a lerships nat ionwide starting February 25, 2020 with a starting retail price of PHP1,738,000. It comes in four (4) colors: Absolute Black, Aluminum Metallic, Arctic White, and Meteor Gray.

Truth... from page 10

“The solution to disinformation is media l ite r a c y, it’s e du c at i on , it’s not legislation; it’s not killing people.”

‘It’s au d i e n c e s l i k e t h e s e , i t ’s i n f l u e n c e r s who are here. If you can motivate them so when t h e y go h ome and t a l k to people about these probl e ms t he n I wou l d consider my coming here a success.’

While acknowledging how social media has adversely affected media re p or t age of t he t r ut h , Severino likewise admits i t ’s s o m e t h i n g m e d i a organizations have also used to their advantage.

“Social media is here and we have to live with it. What needs to be done with social media is make sure the good parts of it continue to exist and then the system has to change s o t ho s e b a d p ar t s c an no longer undermine our democrac y and support those peddlers of lies.”

A s k e d ab out organizations combating the spread of fake news in the Philippines, he cited the Center for Media Freedom and Responsibility (CFMR), and each media organization has taken up the cudgels in fighting fake news in their own way.

“In my opi n i on , t h e b e s t w ay t o f i g ht f a k e news is good journalism to maintain the trust of our audiences.” (with a report from the 3rd PH Envi Summit Social Media Group) EXTRA-JUDICIAL SETTLEMENT OF ESTATE With DEED OF ABSOLUTE SALE Know All Men By These Present: That the late ELEUTERIO JABINIAO, died last May 22, 2010 was the registered owner of a parcel of Land with transfer Certificate of Title No. T-18141 Tax declaration No. G-190610, containing an area of ELEVEN THOUSAND EIGHT HUNDRED SIXTY THREE (11,863) Sq. m. more or less. Is the subject of extrajudicial settlement of Estate with Deed of Absolute sale made and entered by the heirs SANTIAGO L. JABINIAO, ANACLETO L. JABINIAO, AURELIO L. JABINIAO, FLORO L. JABINIAO, BLASITO L. JABINIAO, MARIA ESPERANZA L. JABINIAO and MARIA CARIDAD JABINIAOEDRALIN herein referred to as heirs of ELEUTERIO JABINIAO. PERLITO CALLORA referred to as VENDEE; That for an in consideration of the sum of FORTY FIVE THOUSAND (Php 45, 000.00) pesos Philippine currency the above-named SANTIAGO L. JABINIAO, one of the heirs, who hereby acknowledge receipt of the full payment thereof, hereby SELLS, TRANSFER and CONVEYS in a manner absolute all his rights, interest and participation over ONE/SEVENTH (1/7) PART the above-described property with an area of approximately ONE THOUSAND SIX HUNDRED NINETY FIVE (1,695) SQ. M.in favor of the Vendee PERLITO CALLORA, per Doc No. 175, Page No. 35, Book No. CXXVIII, Series of 2017 under the notarial Registry of Atty. ABRAHAM S. OLEGARIO JR. BWM: Feb. 17, 24 & March 2, 2020

ALLAN'S LECHON Main: Purok 4 Puerto, Cagayan de Oro City Cell #: 0928-616-4431 / 0905-777-0670 Branch: 31st Nazareth, Cagayan de Oro City Cell #: 0926-594-9540

Free: HALANG-HALANG or DINUGOAN!

Branch: Casinglot, Tagoloan, Misamis Oriental

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BusinessWeek MINDANAO CREDIBLE

www.businessweekmindanao.com - KEY feature changes include a new front grille design, rear view camera, power liftgate, LED headlamps with daytime running lamps, and additional driver knee airbag, bringing total number of airbags to seven - With its key feature enhancements plus leather seats, the new Everest Trend is one of the most competitive and feature-packed mid-size SUVs for its pricing - The new Ford Everest 2.2LTrend 4x2 AT is available in all Ford dealerships nationwide starting February 25, 2020 with a starting retail price of PHP1,738,000 - It comes in four (4) colors: Absolute Black, Aluminum Metallic, Arctic White, and Meteor Gray

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Monday|March 2, 2020

12

Ford Philippines Expands SUV Lineup with New Everest Trend

F

ORD Philippines is boosting its SUV lineup with the addition of a new Ford Everest variant, the new Ford Everest Trend, offering customers a new

mid-size SUV variant that offers great value with enhancements in its smart and safe features.

The new Ford Everest Trend has a new front grille design, rear view camera, power liftgate, LED projector headlamps with daytime running lamps, and additional

driver knee airbag, bringing total number of airbags to seven.

“We are expanding our SUV lineup to provide customers with another reliable Ford Everest variant that suits their diverse needs and lifestyles. The new Everest Trend comes with features such as seven airbags, LED headlamps, power liftgate, and leather seats that make it one of the most competitive and featurepacked mid-size SUVs for its pricing,” said PK Umashankar, managing director, Ford Philippines.

Proven performance The new Everest Trend is powered by Ford’s proven 2.2L TDCi diesel engine which delivers up to 160PS and 385NM of torque. Coupled with a 6-speed automatic transmission, it offers power and smooth

acceleration while staying fuel-efficient.

Bold exterior, refined interior Aside from the new front grille design and smart and safety feature enhancements, the new Everest Trend comes in 18-inch alloy wheels, rain sensing wipers, power folding and power adjustable mirrors with side turn indicators, side steps, roof rails, and front and rear splash guards.

The Everest Trend also comes with leather seats, giving customers a more refined seating experience.

Smart and safe technology As a highly advanced technology-led SUV, the new Everest Trend is equipped with several driver-assist technologies (DATs) that make it a perfect match for driving FORD/PAGE 11