BusinessWeek Mindanao (March 24-25, 2017)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 129

Market Indicators

As of 5:00 pm March 23, 2017 (thursday)

FOREX

PHISIX

US$1 = P50.301

7,254.93

13.7 cents

X

68.38

X

points

Briefly

Lower rice yield PALAY production in Northern Mindanao went down in the fourth quarter of 2016 by 3.45 percent to 226,254 metric tons compared to the same period in 2015.

A report released by the National Economic and Development Authority (Neda) Wednesday stated that the movement of planting schedule due to inadequate and delayed release of irrigation water primarily contributed to the decreased yield in most of the provinces.

As a result, rice sufficiency levels in the region dropped 5.6 percentage points lower than the sufficiency levels of the same quarter in 2015. This was estimated to sustain the region for only 54 days with its daily rice consumption requirement of around 28,160 bags.

YOUR Mindanao-wide BUSINESS paper

RELIABLE

P15.00

P15M smuggled cigars seized in MisOr’s port www.businessweekmindanao.com

Fri-Sat | March 24-25, 2017

By CRIS DIAZ, Contributing Editor

T

AGOLO-AN, Misamis Oriental – Intelligence operatives of the Bureau of Customs (BOC) seized smuggled cigarettes from China worth P15 million at the Mindanao Container Port Terminal here on Wednesday.

Teddy Sandy R aval, B O C deputy commissioner for Intelligence Group, who arrived from Manila today, personally supervised the opening of the container van, which arrived from Singapore on Dec. 14, 2016.

He said the smuggled items were declared as diapers and were consigned to “Black Petal Commercial,” with address in Baloy, Cagayan De Oro City.

Raval said that Black Petal Commercial sent a letter to the BOC in Manila denying cigars/PAGE 11

WORLD WATER DAY 2017. Residents of Day-asan in Surigao City stay dry as the cross the wooden footbridge that connects sitios divided by bodies of water around the village. Known as the Little Venice of Surigao with houses built with columns partly submerged by seawaters and surrounded by lush mangroves Day-asan has become one of the major tourist destinations in this part of Caraga. The international community marks 22nd of March of every year as the World Water Day. Photo by Jun Ayensa

Davao allots P24.5B for expressway project

By ANTONIO L. COLINA IV, MindaNews

DAVAO City – A P24.5-billion Davao City Expressway will be constructed to decongest traffic in the downtown area through a government-to-

Angat Buhay MARAWI City -- To address the needs of poor and marginalized families in the province, Vice President Leni Robredo led the launching of the program Angat Buhay Partnership Against Poverty in Lanao del Sur on Tuesday, March 21.

Angat Buhay aims to address poverty in identified areas through convergence with private companies and other development partners.

Sixteen municipalities in the province were identified as pilot beneficiaries of the program based on poverty indicators as well as capacity and willingness of the local government unit to engage with development partners.

Poverty indicators include those with the highest poverty incidences and those greatly disadavantaged due to conflict situation, among others.

IN-DEPTH

government deal.

Davao City Investment Promotions Center (DCIPC) head Ivan Cortez said that the expressway project is being

handled by the Department of Transportation (DOTr) and added that he is not aware of its timeline.

He said he is not yet sure w het her t his ne w project/PAGE 11

More hotels, other facilities needed for Davao

By ANTONIO L. COLINA IV, MindaNews

GARUNGANS. A group of pond workers in Manapa, Buenavista Agusan del Norte secures the nets before the transfer of Bangus fingerlings, also termed as Garungans, into a boat-towed-cage on March 21, 2017. These fish juveniles will be raised until harvest by a bangus farmer in the nearby town of Carmen. Photo by Jun Ayensa

DAVAO City – The lack of hotels and a convention center might hinder the city’ bid to become a major tourism d e st i nat i on and ve nu e

for meetings, exhibitions and other events, the City Tourism Office said.

CTO head Generose Tecson told reporters on

Monday they are urging potential investors to consider the city as an expansion area to fill the need for more facilities as a tourism destination. davao/PAGE 11

14 Filipino tycoons among world’s richest FOURTEEN Filipino tycoons, led by mall-mogul Henry Sy Sr., made it to Forbes’ 31st annual ranking of the World’s Billionaires, joining the ranks of US President Donald Trump, Bill Gates, and Facebook founder Mark Zuckerberg.

With a total net worth of $12.7 billion, Sy placed highest among Filipinos in the list at No. 94. Although his global ranking dropped by three places in 2017, Sy

still remains the richest man in the Philippines.

However, Sy’s net worth dropped from $12.9 billion last year due to global market volatility as well as strengthening of the US dollar.

Sy, whose vast business empire includes retailing, real estate, hospitality, banking, mining, education and healthcare services, was born in Xiamen, China, in 1924 and migrated to the

Philippines to become the nation’s Retail King.

Sy family’s holding firm, SM Investments Corporation (SMIC), has consistently been cited as one of the Philippines best-managed companies. The Chinese businessman’s eldest daughter Teresita Sy Coson was also one of Asia’s most powerful businesswomen.

Meanwhile, the country’s second richest person is richest/PAGE 11

Lance Gokongwei and Henry Sy, Sr.

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

Economy 2 115 Normin farmers now landowners M Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

fri-sat|March 24-25, 2017

A L AY B A L AY City -- Agrarian Reform Secretary Rafael Mariano led the distribution of certificates of land ownership award (CLOAs) covering 282 hectares of land to 1 1 5 a g r ar i an refor m b en ef i c i ar i e s ( A R B s ) We dnesday at L oiza’s Pavlilion in the town on Casisang here.

Mariano, assisted by DAR Regional Director Faisar Mambuay awarded to the beneficiaries the 159 CLOAs situated in the municipalities of Bukidnon and Cagayan de Oro City.

“The CLOAs are just the first step towards more support from t h e gove r n m e nt . T h e department has completed

infrastructure projects for our ARBs here,” Mariano said.

Ac c ord i ng to DA R Regional Director Faisar Mabuay, the department has also lined up livelihood projects and programs for the farmers of Region 10.

“There is no letting up in pursuing our mandate of distributing farmlands and providing support services to the farmer-beneficiaries to improve their quality of life,” said Mambuay.

T he C LOAs we re given during the InterProvincial Agrarian Reform Coordinating Committee (PARCCOM) Convention here.

Mariano, who chairs t h e PA R C E x e c u t i v e Committee said that this

PARCCOM convention intends to craft solutions to issues and concerns on the implementation of agrarian reform in Region 10.

“For the last 10 years, the PARC rested. It did not create a single policy for agrarian reform and its beneficiaries. Under my watch, I want the PARC to be a working committee.

A committee that works and fights for the rights and welfare of farmers,” Mariano said.

Mariano also explained his thrusts and policy direction to the PARCOMM members. He said his administration is geared towards promotion of farmers’ rights and welfare, ensuring food security in the country and rural

development.

Present at the ARBs Summit and CLOA distribution were: Assistant Regional Director Merlita

C a p i n p u y a n , PA R C Secretariat Director James Ars enio Ponce, Provincial Agrarian Reform Program Officer Norberto

Pacquingan, Chief for land tenure Sector Relani Ludena and Indigenous People Representative Telesforo Bolivia. (30)

Miss Lugait 2017 Honeyjean Dacut (center) is all smiles after being crowned last week in Lugait, Misamis Oriental. PHOTO SUPPLIED

42 rural women undergo training on herb production, processing RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide CNN Philippines TV-9 Manila CNN Philippines TV-12 Baguio CNN Philippines TV-12 Dagupan CNN Philippines TV-26 Tarlac CNN Philippines TV-10 Iriga CNN Philippines TV-4 Iloilo

CNN Philippines TV-8 Bacolod CNN Philippines TV-9 Cebu CNN Philippines TV-5 Cag. de Oro CNN Philippines TV-5 Zamboanga CNN Philippines TV-7 GenSan CNN Philippines TV-9 Davao

DZBS 1368 Baguio DZRL 639 Batac DZTG 621 Tuguegarao DZKI 1332 Iriga DYKW 936 Binalbagan DYKB 1404 Bacolod DYKC 675 Cebu DXKO 1368 Cagayan de Oro DXKS 1080 Surigao DXKD 1053 Dipolog DXKP 1377 Pagadian DXXX 1008 Zamboanga DXKT 1071 Davao DXDX 693 General Santos

MARAWI City -- Forty-two rural women were trained on herbal production, utilization and processing to provide them additional livelihood opportunities.

The training was held on March 15-17, 2017 at the Municipal Training Hall, Daguan, Kapatagan town, this province.

The activity was the second of a series of training t h at t h e Ag r i c u ltu r a l Training Institute (ATI) has aligned for the province.

Vi c t o r i a A . Mo t r i l , owner of VMotrils Food

Products ser ved as the re s o u rc e p e r s on . S h e is a UN-FAO awardee as Outstanding Female Farmer and DA- awardee for Outstanding Hgh Value Crops Processor in Central Mindanao.

Motirl said rural women can become potent partners in development if they have the will and the necessary skills to start running a business of their own.

Among the topics she shared were uses of common Philippine herbs as well as processing and

packaging of such herbs for income generation purposes.

The participants also under went a handson in the preparation of different herbs like Tanglad or Lemongrass Juice, Calabash Miracle Fruit Juice, Peppermint Ointment, Turmeric and Malunggay Capsule, and Taheboo Green Tea. Planting materials of herbs were also distributed to them for production and multiplication. (DA Lanao del Sur/PIA-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

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

saturday|March 25, 2017

3

4

Opinion

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

saturday|March 25, 2017

Fast food can kill you!

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

Vice President for Administration

joe palabao

Vice President for Marketing

NELSON CONSTANTINO Editor-in-Chief

Cheng ordoñez

gilbert y. chao

Executive Editor

Motoring Editor JOEL ESCOL

BONG FABE

Feature Editor

Associate Editor

CLIFFORD SANTILLAN Layout Artist

JUN AYENSA

shyne campaner

Regional Editor Caraga

Advertising

ATTY. MARIO T. JUNI

Cris diaz mike baños Uriel quilinguing Contributing Editors

Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO Legal Counsel

manila office: Unit 310 Valero Plaza, Valero Street, Salcedo Village, Makati City; lani vallido-Marketing Manager Shiena Shyne Campaner & Wemalyn Garcia Marketing Staff - CDO

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City.

It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463826-272-000 – VAT. Reg., and with Business Permit No. 201512879. Tel. Nos.: (088)8578447, 74-5380, 0923-432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com

LIFE’S INSPIRATIONS: “…

For those who eat and drink without discerning the body of Christ eat and drink judgment on themselves.

That is why many among you are weak and sick, and a number of you have fallen asleep…” (1 Corinthians 11:29-30, the Holy Bible).

-ooo FAST FOOD CAN KILL YOU! Are you still eating fast food---or food sold in fast food chains? B e warned. Or, b etter yet, stop eating fast food, stop eating in fast food chains.

Why? Because, according to medical experts, these kinds of food could kill you by giving you hypertension, or a dangerous spike in your blood pressure.

In a media report, doctors f rom t he Inte r nat iona l Society of Hypertension (ISH) and its Philippine affiliate, the Philippine Society of Hypertension (PSH), claimed that fast food restaurants usually sell “high fat and high salt food” which cause essential hypertension, even among very young children.

Dr. R amon C ast i l lo, a past president of PSH and a member of the ISH, explained that whose who have hypertension are like

Oro Chamber

Going Through Hot Water Think a minute…“A tea bag isn’t worth much until it’s been through some hot water.” There’s a saying in boxing: “Everybody’s got a plan—until they’ve been hit!”

Sooner or later, life is going to hit and knock you down.

Whether you get back up or not is your choice. Almost all people’s successes are built on their former failures. A very successful man was asked if he had ever failed.

He answered: “Only in life.”

The fact is, even after we’ve been knocked down we can still use our past mistakes and failures to build a bridge to our success.

You know that you’re the only one who can kill your dream by quitting.

Remember that just falling in the water is not what drowns you; it’s staying down there that does. Just like kites fly high because the wind pushes against them, so problems that oppose you can actually help you succeed, if you choose to believe and use them that way.

There was a man who was the only survivor from a shipwreck. He drifted to an uninhabited island where he built a hut for his shelter. One evening after he returned from searching for food, he found his little

THINK

A Minute

Jhan Tiafau Hurst hut on fire. Early the next morning he awoke to find a ship that had come in during the night. When the captain came on shore he told the man: “We saw your smoke signal so we came to rescue you.” Everything this man owned and valued in his hut had to be destroyed before he could be saved.

Sometimes our Maker even uses our pain to get our attention, so we can learn our most important lessons for living well and wisely. So why not ask Jesus Christ to take charge and lead you through the hot water you’re in now? He’s the only one who can help you change your pain and problems into peace and prosperity for you and your family. The choice is yours.

Just Think a Minute…

and tablets, which often enable many to remain motionless for long periods of time.

-ooo ASKING THAT OUR FOOD AND DRINKS B E C O M E T H E B O DY AND BLOOD OF JESUS: Among members of the Philippine-born church which is known as the Anak ng Diyos Kadugo Ni Kristo (AND KNK, or Children of God Blood Kin of the Christ) Church, however, an effort must also be made to obey simple directions from the Bible on how to make sure that the food and drinks that we eat and partake of truly healthy.

One such direction is found in 1 C orinthians 11:23-30. In gist, these Bible verses are telling us that whenever we eat or drink, we should always remember the body and blood of Jesus, our God and Savior who is God the Father, Son, and Holy Spirit, by which we have been forgiven, the penalties due for our sins paid for, and our eternal life in Paradise guaranteed.

Ever yone must do as the AND KNK members are doing: they raise their hands over the food and drinks they are about to

K akampi

Mo A ng Batas

Atty. Batas Mauricio partake, thank Jesus for these blessings, and then ask, in the Name of Jesus, that the food and drinks b e c o m e Hi s b o d y a n d blood, in recognition of the salvation He has given us.

-ooo “A N G T A N G I N G DAAN”, “KAKAMPI MO ANG BATAS”, AT FB LIVE: Please listen to “Ang Tanging Daan”, a round-the-clock Bible Exposition and prayer session at www.facebook. com/angtangingdaan, and to “Kakampi Mo Ang Batas”, a legal counseling an d n e w s c om m e nt ar y program at www.facebook. com/kakampimoangbatas.

Reactions: 0917 984 24 68, 0918 574 0193, 0 9 7 7 8 0 5 9 0 5 8 . E m ai l : batasmauricio@yahoo.com.

Confession heals us interiorly

Member: Philippine Press Institute

“walking time b ombs--because, anytime, they could explode to develop complications like massive stroke, acute myocardial infraction, and even sudden cardiac death…”

-ooo “WE EAT TOO MUCH SALT, FAT, CALORIES”: Dr. Neil Poulter, ISH president, on the other hand said: “We eat too much salt, we eat too much fat, we eat too many calories.” This is the reason why high blood pressure h a s b e c om e t h e s i ng l e killing risk factor around the world, with 9.4 million dying annually because of it, Poulter explained.

In the Philippines, for instance, medical records indicate that one in every Filipino has hypertension, or debilitating high blood pressure. This is the reason why, medical experts agree, there is a need for our countrymen to change their eating habits by avoiding too much salt, too much fat, too many calories.

In addition, there must also be a change of lifestyle--one that is marked by physical inactivity at pres ent, to one t hat is p hy s i c a l l y a c t i v e . O n e leading advice is for people to lessen their use of gadgets

We need to restore the tr ue face of confession w h o s e pu bl i c i m age i s ge tt i ng ve r y d i stor te d.

This is unfortunate because confession actually plays an indispensable role in a believer’s life. It’s where Christian life is recovered, or at least strengthened.

Of course, confession has to be understood as a doctrine of faith. One misses the truth right at the source if he considers it as just one more practice, religious but mainly social, its nature determined more by its practical aspects than by that it was instituted

by Christ and taught and promoted by the Church.

This is actually our main problem these days. Many believers have a watered down attitude toward faith and religion, and of course toward the Church and the sacraments. They rely more on their reason rather than of faith to lead them in their Christian life. They believe and they follow only when they understand things and see them useful in some way. Faith is subordinated to our reason.

Again, we have to take our faith s eriously and

“

live it as consistently as possible. We don’t flaunt it when it is politically correct, and junk it when it is inconvenient. And this seriousness in our faith should also be shown in our attitude toward confession.

As a sacrament, confession is not just a human institution. Though it uses human instruments, it is Christ to whom one approaches and from whom one asks and obtains forgiveness in confession.

Though it takes only a few minutes, the truth is that the whole drama of Christ assuming our sins, dying to them and rising from them, victorious over sin and death, and expressing the most exquisite version of love in his mercy for us, takes place there.

This is what happens in confession if understood and done well. We need to expand our mind and h e ar t t o a c c om m o d at e this tremendous reality of confession as taught to us by our Christian faith.

If we today pride ourselves of having gone nuclear, of having covered a v a s t are a of wor l d ly knowledge, then we should

do something similar with respect to truths of faith.

We cannot remain in the kindergarten level in our appreciation and practice of confession, for example.

Of course, all parties should do their best here. The priests and the penitents should play their respective parts well. Pope Emeritus Benedict once s ai d t hat confe ssi on is where that intimate and life-changing “dialogue of salvation” transpires.

Priests should realize that as confessors they l e n d t h e i r f a c u lt i e s t o C h r i s t w h o i s t h e on e who forgives sins. They should be truly identified with him, effectively and af fectively. Thus, theywe-should be competent and truly holy, because only in this way can we dispense God’s mercy and effect inner healing in the penitents.

This is, of course, a very dy namic, ne ver-ending effort, with its ups and downs, twists and turns.

But as long as t here is determined effort to be f ait h f u l t o C h r i s t , t h e sacrament can be done as it should be in spite of our

HINTS

and

Traces

Fr. Roy Cimagala defects and miseries.

Hearing confessions is a very privileged moment for any priest. That’s where he enters into the inmost part of a person, that part where one is supposed to face Christ to ask for the most important thing in life-God’s mercy. We can need many and endless things, but in the end what we most need is none other than God’s mercy.

Priests should do their part really well. They have to know how to be one and at the same time a father, a friend, a judge, and doctor.

They must know how to advise as well as to handle the many intricacies of the internal forum. roycimagala@gmail.com

Success is not final; failure is not fatal: It is the courage to continue that counts

”

-- Winston S. Churchill

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

fri-sat|March 24-25, 2017

Billboard

Street Dancing and Float Parade, among the big event of Talakag at 100 years

T

Story and Photos by Ercel Maandig

alakag,BukidnonThe municipa l government of Talakag in the Province of Bukidnon was celebrating its centennial celebration the whole month of March and among the highlights of their 100 years founding anniversary is the Street Dancing Competition and Float Parade last March 18 wherei n Tig k a la a n Nat iona l H ig h School dom i nated t he St reetdancing Competition while the Float of Oro Integrated Cooperative(OIC) is the big winner among the 3 contingent of the Float Parade.Other winners in t he Float Competition are Bigcas Hooper Foundation(BIG HOOP) who is in the 2nd spot of t he C ont e s t w h i le t he 3rd Place goes to the National Irrigation Administration(NIA).In Streetdancing and Ground Performance,Tigka laan National High School is the Champion of the 2 categories.Other winners are Bu k idnon State U n i v e r s i t r y Ta l a k a g Extension School is in the 2nd Place and 3rd Place is goes to St.Joseph High School in the Streetdancing c ategor y wh i le i n t he G r o u n d Pe r f o r m a n c e categor y,t he 2nd Place wa s goes to St .Joseph High school and 3rd Place was goes to Bu k idnon State University Talakag Extension school.

Municipal Mayor Vergito Factura was overwhelm with the outcome of the month-long celebration that starts on March 1,2017 with “Pamuhat”,a traditional ritual of the Indigenous People in the town with its culture that showcases the said event that followed by a Thanksgiving Mass.”Dako kaayo akong kalipay sa

kalampusan sa among 100 years nga anibersaryo sa pagkamugna sa Talakag isip lungsod sa Bukidnon diin una ko k ini nga selebrasyon isip usa ka Mayor sa lungsod”,Mayor Gito Factura said in his vernacular. Factura is the former Vice Mayor of the town that reaches until his last term of service.

On March 2 this year;3 important events was also observed in the town,these are the Grand Parade,the unveiling of its Centennial Landmark and its Kickoff Activities that winding up with a Fireworks display.

Other Events are Larong Pinoy,Medical,Dental and Minor Operation,Volleybal and Basketball To u r n a m e n t , A g r o f a i r,Ta lent adong Ta l a k a g n o n , B e a u t y P a g e a nt ( L a g a Ta Ta l a k a g ),C u l t u r a l Shows,Invitational B a s k e t b a l l Game,Motocross,Variety S h o w , T a b l e Tennis,Acrobatic Show and Boxing.

Factura addded that he also advocates Gender equa lit y among his constituents in the town,the reason why among the event of the month-long Centennial Celebration is the Women’s Summit that will kick Off on March 23 in line with the International Womens Month Celebration t he whole mont h of March. Talakagnon wows the performance of the legendary recording artist “Ae g i s”t hat ro c k s t he jampacked crowd of its Gymnasium last March 17.

On March 27, the 100 years celebration will wind up with a Centennial Jubilee Awarding Ceremony and the 1st Gito Factura Municipal Address with MORESCO Uno Band,performing Live.

acknowledged the GSIS Team’s collaborative effort to achieve the certification.

GSIS met the r e q u i r e m e nt s o f t h e updated ISO version for the two processes. In 2015, GSIS was conferred the ISO 9001:2008 for its loan processing only.

The ISO-certified QMS of GSIS enables it to plan, control, measure, and improve the quality of its outputs.

G S I S’s QMS on membership administration includes the creation and updating of all active members’ and pensioners’ records.

The records contain such information as length

When you’re in Davao City, Read:

HOTELS & RESORTS DIRECTORIES

VILLA MARGARITA HOTEL J. P Laurel Avenue, Bajada, Davao City, Philippines Tel. No.: (082) 221-5674 / Fax No. (082) 226-2968 MICROTEL

By Wyndham Davao Damosa Gateway Complex Angliongto Rd., Lanang Davao City 8000, Philippines Tel +63 82 233 2333 / Mobile +63 917 795 3548 www.microtelphilippines.com PINNACLE HOTEL Sta. Ana Avenue, Davao City.

No. (082) 300-5885 Telefax: 300-1881/ 221-3025 Website: www.thepinnaclehotel.com

The Municipal Officials of Talakag Bukidnon headed by Mayor Gito Factura and Vice Mayor Amado Noble awards the winners of the Streetdancing and Float Competition during its Centennial Celebration.Also in Photo are Mr.Alberto Bigcas who is the Municipal Administrator and Sangguniang Panglungsod member Renato S. Sulatan Jr.

ALU HOTEL M. Roxas Avenue corner Padre Faura Street, Davao City.

Tel No (63 82) 221-5232 / Mobile (O943) 652 3927 Email: aluhoteldavao@yahoo.com info@alu-hotel.com / www.alu-hotel.com GRAND REGAL Km 7 Lanang, Davao City, Philippines Tel. 235-0888 / Fax 235-2335 email: grandregalhotelegmail.com

VIAJEROS ECONOMY HOTEL Patnubay St., Sandawa, Matina, D.C Tel. No. 297-5710 / Telefax (6382) 298-5134 Mobile: 0922.-8268425 Website: www.viajeroseconomyinn.com

ROYAL MANDAYA HOTEL J.Palma Gil St., Davao City 8000 Phils.

Tel. No. (082) 225-8888 / fax No. (082) 225-1885 info@theroyalrmandayahotel.com www.theroyalmandayahotel.com HOMITORI Bangoy Street corner Santa Ana Avenue, Davao City Tel. No. (082) 295-2969 & 295-2471 / Mobile: (0922) 8994646 Email: homitoridvo@gmail.com or Like us on www.facebook.com/pages/Homitori-Davao BIG APPLE HOTEL Brgy. Angliongto, Lanang, D.C. Hotline Nos.: (082) 234-8459 Facebook account: bigapplehotel@ymail.com Email: bigapple_hotel@ymail.com

GSIS conferred ISO certification anew The Government Service Insurance System (GSIS) received the International Organization for Standardization (ISO) 9001:2015 certification for its Quality Management System on loan processing and membership administration from TÜV Rheinland Philippines Inc. (TÜV-R) in awarding rites held at the GSIS Head Office in Pasay City.

“This is a testament to our continuing commitment to provide excellent service to our members and pensioners, and an inspiration to do better,” said Officer-inCharge Nora MalubaySaludares as she

5

of service, periods with paid premiums, and basic monthly pension.

GSIS’s QMS for loan processing covers the process from the receipt of application up to crediting of loan proceeds to the electronic card (eCard) or Unified Multipurpose Identification (UMID) card of member- and pensioner-borrowers.

With an ISO certification, members and pensioners are thus assured that their records are an accurate basis in computing their benefits and their loans are processed and granted efficiently.

The new ISO

certification is valid until February 17, 2020 subject to annual surveillance audit of the pension fund’s QMS. “Our work has just begun. This year, GSIS faces another exciting challenge, as we pursue certification of our property insurance process u n d e r t h e Ins u r an c e Group,” OIC MalubaySaludares said.

She presented the ISO certificate to new GSIS Board members present at the event, namely, Chairman Francisco T. Duque III, Trustee Nina Ricci Ynares-Chiongbian, and Trustee Lt. Gen. Alan R. Luga (Ret.).

THE PERIDOT SUITES Carmelite Drive, Lanang, Davao City Tel. no.: (082) 305-6530 / Fax no.: (082) 305-38I2 Email: theperidotsuiles@gmail.com AZIENDA MEO APARTELLE 11 Corner Pioneer and Doña Vicenta Village, Phase 1, Davao City Telefax. No: (082) 227-4119 & 284-6689 Cell Phone No. 09256652626 Website: www.aziendameo.com Email Add: aziendameo@yahoo.com.ph Big 8 Corporate Hotel Visayan Village, National Highway, Tagum City Mobile nos. 09173029063 & 09328539372 Tel. No.: (084)216-0888 Email: info@big8corporatehotel.com www.facebook.com/big8corporatehotel.com www.big8corporatehotel.com HOTEL ELENA Avenida Santos Ave., Nova Tierra Vill, Lanang, D.C Tel. Nos. (082) 233-1941 & 305.8799 / fax No. (082) 233-1887 PARADISE ISLAND Tel. No. (082) 233-0251 & 300-2343 / CP No.: 09209546780 E-mail: paradiseislanddavao@gmail.com MARCO POLO DAVAO C.M Recto St., Davao City davao@marcopolohotels.com www.marcopolohotels.com (63 82) 221-0888 HOTEL ESSE Brgy. 9-A F Torres Street, Davao City Hotline: No: 227-37-73 / Fax: 295-34-85 Website: www.hotelessedavao.com.ph Email Add: hotel_esse_davao@yahoo.com RUEMANGO APARTELLE & SUITES 516 Mangga St., Juna Subd., Matina, Davao City ruemangoapartelleandsuites@gmail.com www.ruemango.com Tel. Nos.: (082) 295-7175/ 295-7180

6

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

fri-sat|March 24-25, 2017

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

fri-sat|March 24-25, 2017

7

CorporateWorld 8 Vista Land nets P8.1B as Ayala Land to spend P16B leasing business grows to build new malls in 3 yrs R

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

fri-sat|March 24-25, 2017

EAL estate giant Ayala Land Inc. (ALI) plans to spend P16 billion to build new malls over the next three years as it continues to build up its recurring income business, riding the country’s robust economic growth. “ We a r e e x p a n d i n g aggressively . . . We will be tripling our size in three years. By 2020, we will have at least 3.2 million in gross leasable area for Ayala malls,” AC Legarda, Senior Division Manager of ALI’s Commercial Business Group, said in an interview.

By the end of 2017, Legarda said the property

firm expects to register a total of 1.8 million square meters (sqm) of gross leasable space in its malls segment.

She noted ALI planned to complete six shopping centers this year with a total leasable space of 198,000 square meters. These include the Ayala Malls in Vertis North in the Quezon City Central Business District; Marikina Heights; Cloverleaf in Balintawak, Quezon City; One Bonifacio High Street in Bonifacio Global City (BGC); Ayala Malls Feliz in Cainta; and Ayala Malls Southville in Las Pinas.

These are in addition to Ayala Malls The 30th which

opened in January of this year The company targets to launch 11 new shopping malls next year, bringing total expected GLA by the end of 2018 at two million square meters.

Expansion for next year includes Bacolod, Cebu, Makati and Bay Area in Paranaque.

“The economy is ready, we are very ripe, we are in our sweetest spot now. All the other brands would like to come in, the numbers are doing very well. And we see the market growing so we would like to grow with the market,” she added.

Atlas Mining net loss widens in 2016 ATLAS Consolidated and Mining Corp. incurred a P879-million net loss in 2016, 8% higher than the P814-million loss recorded in the prior year.

In a regulatory filing on Wednesday, the mining firm said excluding a onetime provision for loss on disputed tax credits, its underlying net loss stood at P384 million, a 53% improvement from the 2015 figure.

“The company realized both higher revenues and l owe r op e r at i ng c o s t s , benefitting from an ongoing cost and efficiency program,” Atlas Mining said.

Revenues rose 7% to P12.080 billion year on year, which was attributed to “the increase in copper volume shipped and higher gold revenues that tempered the impact of lower copper prices.”

Copper revenue rose

slightly by 2%, as shipments of copp er concent rates increased by 4% to 176,130 dr y metric tons (DMT), while copper prices declined 10% annually to an average of $2.21 per pound.

Gold revenue climbed 34% as volume shipped went up by 4,879 ounces to 32,211 ounces and average prices during the period increased to $1,241 per ounce from $1,154 per ounce. mining/PAGE 11

Legarda also attributed the growing business process outsourcing (BPO) market and the overseas Filipino workers (OFWs) remittances driving the growth of retail spaces. ”We are very excited about the expansion, we would like to reach more markets. We are not only concentrating in Metro Manila, we are also doing a lot in the provincial areas,” she added. ayala/PAGE 11

VISTA LAND & Lifescapes, Inc. sustained a double-digit growth in earnings last year, as its leasing operations expanded and contributed more while its residential business slowed on weaker demand f rom overs e as Filipinos.

In a me dia br ief ing in Mandaluyong City on Tues day, the Villar-led listed property developer announced its consolidated net income increased 13% to P8.10 billion from the P7.19 billion booked for 2015. Earnings per share accordingly rose to 67.6

centavos from 62.2 centavos.

Vista Land generated about P31 billion in revenues, 7% over the P28.85 billion realized in 2015. It accordingly improved its earnings before interest, taxes, depreciation and amortization (EBITDA) by 19% to P12.99 billion from P10.94 billion.

The leasing business buoyed the company’s bottom line during the period, President and Chief Executive Officer Paolo A. Villar noted.

Vista Land saw its leasing revenues jump 59% to P4.67 billion last year from P2.94 vista/PAGE 10

CELEBRATE EARTH HOUR AT SM CITY CAGAYAN DE ORO

On March 25, from 8:30pm to 9:30pm, SM City Cagayan de Oro will once more switch off the lights for Earth Hour 2017.

This year’s theme “Shine a Light on Climate Action,” seeks to spark awareness and inspire societies to direct its efforts towards combatting global warming. It is a

community-empowering campaign that leverages on the power of the youth to make a difference in the world.

SM’s partners with the same advocacy are expected to attend to take a stand against the indiscriminate threat of global warming and make a commitment

to a low-carbon lifestyle by switching off the lights.

SM City Cagayan de Oro has been observing the Earth Hour since 2008.

Along with the other SM malls nationwide, it has committed to not only observing the one-hour event but also join the movement.

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

saturday|March 25, 2017

G20 jointly fighting bank sector hacking

T

HE world’s biggest economies will ple dge to jointly f ig ht c y b er attacks on the global banking system, one of the biggest coordinated efforts yet to protect lenders since an $81 million heist of the Bangladesh central bank’s account last year.

Meeting in the German re s or t tow n of B a d e n Baden, G20 finance chiefs will agree to fight attacks regardless of their origin and promise cross-border cooperation to maintain financial stability, according to a draft document seen by Reuters.

“We will promote the resilience of financial services and institutions in G20 jurisdictions against

malicious use of information and communication technologies, including from countries outside the G20,” it said.

However, it dropped an earlier reference for enhanced security requirements for financial services.

Cy ber crime became a top pr i or it y af te r an e l a b or at e h e i s t on t h e Bangladesh central b a n k’s a c c o u n t a t t h e Federal Reserve Bank of Ne w York l ast ye ar, an unprecedented theft that exposed the vulnerabilities of the system.

The agreement comes just days after the Un i t e d S t at e s c h a r g e d two intelligence agents from Russia, another G 2 0 m e m b e r, w i t h

masterminding the 2014 theft of 500 million Yahoo accounts.

The indictment was the first time US authorities have criminally charged Russian spies for c yber of f e n c e s i n c lu d i n g f or computer fraud, economic espionage, theft of trade secrets, and wire fraud.

The charges came amid a swirl of controversies relating to alleged Kremlinbacked hacking of the 2016 US presidential election and possible links between Russian figures and associates of U.S. President Donald Trump.

Attacks through SWIFT In the banking world, attacks through the global SWIFT bank transfer system have continued to increase with the network

recording a “meaningful” number of attacks with about a fifth of them resulting in stolen funds since the Bangladesh heist, the firm said late last year.

In other highly publicized attacks, retailer Tesco Plc’s banking arm said 2.5 million pounds ($3 million) had been stolen from 9,000 customers last year while hackers also stole more than 2 billion rubles ($34 million) from correspondent accounts at t h e Ru s s i a n c e nt r a l bank and from accounts in commercial banks.

The European Union is considering testing banks’ defenses against cyber attacks with concerns growing about the industry’s vulnerability to hacking.

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City

RUEL B. PATOLTOL Applicant/s

CASE NO. 2017-10-531 (2012-10-1135)

NOTICE OF HEARING

APPLICANT(s)/PETITIONER(s) request/s authority for approval of extension of validity of certificate of public convenience to operate PUJ DUAL Service on the line ;Cogon Market to Apovel –Bulua Terminal vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on March 30, 2017,at 10;00 A.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 22ND day of March, 2017 at Cagayan de Oro City, Philippines.

(Sgd.) AMINODEN D. GURO Regional Director BWM: Mar. 24, 2017

CASE NO. 2017-10-315

CASE NO. 2017-10-529 (2012-10-334)

JAMAEL J. RINGIA Applicant/s

CASE NO. 2017-10-119 (2007-10-0241)

NOTICE OF HEARING

NOTICE OF HEARING

APPLICANT(s)/PETITIONER(s) request/s authority For approval of extension of validity of a certificate of public convenience to operate PUJ service along the line;Cagayan de Oro to Lugait and vice versa with the use of ONE(1) units.

This application/petition shall be considered by this Board on March 30, 2017, at 10;00 A.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 22ND day of March, 2017 at Cagayan de Oro City, Philippines.

APPLICANT(s)/PETITIONER(s) request/s authority For approval of extension of validity of certificate of public convenience to operate PUJ SERVICE along the line ;Cogon Market to Grand Europa and vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on March 30, 2017, at 10;00 A.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 22ND day of March, 2017 at Cagayan de Oro City, Philippines.

APPLICANT(s)/PETITIONER(s) request/s authority For Approval of extension of validity with substitution of unit of certificate of public convenience to operate PUJ service along the line; Cogon Market to Pier and vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on March 30, 2017, at 10;00 A.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 24TH day of March, 2017 at Cagayan de Oro City, Philippines.

(Sgd.) AMINODEN D. GURO Regional Director

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City RICHARD S. AKUT Applicant/s

CASE NO. 2017-10-538 (2012-10-496)

NOTICE OF HEARING

NOTICE OF HEARING

APPLICANT(s)/PETITIONER(s) request/s authority For Issuance of certificate of public convenience to operate TH-TRUCK service along the line;Within Cagayan de Oro City and from said place to any point in the Island of Mindanao, accessible to any motor vehicle traffic and vice versa with the use of one(1) units.

This application/petition shall be considered by this Board on March 30, 2017, at 10;00 A.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 17th day of March, 2017 at Cagayan de Oro City, Philippines.

APPLICANT(s)/PETITIONER(s) request/s authority For Approval of extension of validity of certificate of public convenience to operate PUJ service along the line ;Cogon Market to Xavier Heights and vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on March 30, 2017, at 10;00 A.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 23rd day of March, 2017 at Cagayan de Oro City, Philippines.

(Sgd.) AMINODEN D. GURO Regional Director

(Sgd.) AMINODEN D. GURO Regional Director

BWM: Mar. 24, 2017

JAMES E. CALOS Applicant/s

NOTICE OF HEARING

BWM: Mar. 24, 2017

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City BENIN E. ACUNA Applicant/s

TEODOSIO T. JUARIO CASE NO. 2017-10-530 Applicant/s (2012-10-416)

BWM: Mar. 24, 2017

(Sgd.) AMINODEN D. GURO Regional Director BWM: Mar. 24, 2017

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City STEPHEN D. UAYAN CASE NO. 2017-10-536 Applicant/s (2012-10-443)

NOTICE OF HEARING

(Sgd.) AMINODEN D. GURO Regional Director BWM: Mar. 24, 2017

Republic of the Philippines Department of Transportation and Communication LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City ALCOVER A. ALEJANDRO CASE NO. 2017-10-526 Applicant/s (2012-10-1067)

NOTICE OF HEARING

APPLICANT(s)/PETITIONER(s) request/s authority For Approval of extension of validity of certificate of public convenience to operate PUJ service along the line ;Cogon Market to Zayas/Landfill and vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on March 30, 2017, at 10;00 A.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(ies)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(ies).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 23rd day of March, 2017 at Cagayan de Oro City, Philippines.

APPLICANT(s)/PETITIONER(s) request/s authority To extend the validity of a Certificate of Public Convenience with substitution of units/to operate PUJ/FILCAB service on the line ;Puerto Cagayan de Oro City to Balingoan Misamis Oriental and vice versa with the use of one(1)units.

This application/petition shall be considered by this Board on March 31, 2017, at 3;00 P.M. at this Board on which date Applicant/(s) Petitioner(s) shall formally submit his/her/their evidence.

The Applicant(s)Petitioner (s)shall publish said notice at least FIVE(5) days prior to the date of hearing in a daily newspaper of general circulation in the Mindanao Island.

Party(s)opposed to the approval /granting of the application /petition must file his/her/their written opposition with supporting documents, unless this Board deems it necessary to required additional documentary evidence and /or his/ her/their oral testimony(s).

FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN THE DISMISSAL OF THE APPLICATION/ PETITION.

Issued this 21TH day of March, 2017 at Cagayan de Oro Ciy, Philippines.

(Sgd.) AMINODEN D. GURO Regional Director

(Sgd.) AMINODEN D. GURO Regional Director

BWM: Mar. 24, 2017

BWM: Mar. 24, 2017

9

10

Banking&Finance

OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274

METRO BANK- COGON Osmeña Hayes St. Cdoc | 726438/8572057

ASIA UNITED BANK Cor.Camp Alagar Road Lapasan, Cdoc 729678 / 8568893

METRO BANK- CARMEN Max Suniel St. Carmen, Cdoc 8581722/ 8585162

BDO – VELEZ Velez-Rn Abejuela Street, Cdoc 2314246/8572075

METRO BANK- LAPASAN CM Recto Lapasan HW, Cdoc 724461/8561721

BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637

METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924

BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796

METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731

BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405

METRO BANK- GAISANO 8561720

BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN

CM Recto Ave. Lapasan, Cdoc, 8563991/727731

BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

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

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

PNB- LKK MALL NORTH CONCOURSE

LKK Mall N.Concourse Cdoc 8574149/8575682

PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.

#58 Tiano FernandezSt.CDO 727215/ 8563552 *805

SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625

EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081

SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632

EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331

STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168

ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999 METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415

UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO

Capistrano Corner CruzTaal St. CDO 8524099/722695

UCPB BANK SAVINGS- OPOL Gf forever Books Bldg.Bulua National CDO 754519/8588063 UNION BANK Lapasan Cm.Recto Cdoc | 8566847/8563805 WEALTHBANK Velez Gomez St. Cdoc | 8568942/722174 1ST VALLEY BANK Vamenta Blvd. CornerLirio St. Carmen, Cdoc 8501871/ 8584146 OROBANKERS CLUB Inc. Pnb Carmen | 09151850242

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

saturday|March 25, 2017

PHL banks told to scale up for regional banking integration PHILIPPINE BANKS should start positioning t hems elves in ter ms of capital and scale as the countr y moves closer to regional banking i nte g r at i on , w it h more foreign lenders expected to venture into the country in the coming years, the Bangko Sentral ng Pilipinas (BSP) chief said.

BSP Governor Amando M. Tetangco, Jr. asked local banks to craft concrete plans and brace themselves for increased competition, as the Association of Southeast Asian Nations ( A SE A N ) n ow pu r s u e s integration in the financial and banking channels.

The ASEAN Banking Integ rat ion Frame work (ABIF) was first endorsed in December 2014, and seeks to allow dulyidentified qualified ASEAN banks (QABs) to “operate f reely” across membereconomies in the region. “ This is where the Philippines can set specific targets for increased market share in the region... ABIF is now unfolding -- it provides us with opportunities. The strategic issue therefore is how you will now operate given that regional

integration is upon us,” Mr. Tetangco said in a recent speech before the national convention of the Bankers Institute of the Philippines in Tagaytay City.

One route which may b e pu rsu e d is to apply as a QAB, which allows a l e n d e r t o op e r at e i n bigger markets but will have to face “new aspects of competition, different market conditions, and differences in capital requirements,” the central bank chief said.

Ahead of the 2020 integration, the ABIF eyes that the Philippines alongside members of the ASEAN-5 -- Indonesia, Malaysia, Singapore, and Thailand -- should have at least one bilateral deal signed by 2018 before a full integration two years later.

In Ma rc h 2 0 1 6 , t h e B SP s i g n e d a bi l at e r a l agreement with the Bank Negara Malaysia to mark its f irst deal under the A B I F, w h i c h s e e k s t o accept three QABs from one country to operate in the other jurisdiction.

Two more agreements are expected to be signed “as early as next month,” Mr. Tetangco said. The BSP

has been in discussions wit h of f icia ls f rom t he Bank of Thailand and Otoritas Jasa Keuangan of Indonesia, the BSP official previously disclosed.

Apart from the bilateral d e a l s , M r. Te t a n g c o earlier said at least six more foreign lenders are in various stages of talks with the central bank as they look to venture into the Philippine market.

If realized, this would add to nine foreign lenders who have set up shop in the country over the last two years after Republic Act 10641 liberalized the banking sector.

M r. Te t a n g c o s a i d t h e P h i l i p p i n e s’ s o l i d macroeconomic footing and sound banking system are attracting more players.

The Philippine economy g r e w by 6 . 8 % i n 2 0 1 6 as among the fastest in t h e re g i on , w it h a bi g consumer base and a pl an ne d i n f r a st r u c tu re push from the government which could boost lending.

Those not looking to scale up as QABs still need to keep a “good competitive strateg y” in the face of heightened competition, Mr. Tetangco added.

“A B I F m a k e s i t

imperative that you improve your competitiveness by l ow e r i n g o p e r at i n g costs, increasing product and service innovations, an d i mprov i ng s e r v i c e quality. This requires more investments in technology and training. Ultimately, this needs more capital and scale to thrive,” the BSP chief also said.

“Preferring the status quo will be a competitive disadvantage.”

There are 613 b an ks op erat ing in t he P h i l ippi n e s a s of e n d September, according to central bank data. Of the number, 41 are universal and commercial banks, 64 are thrift banks, and 508 are rural and cooperative banks.

To be named as a QAB, lenders must secure the endorsement of regulators in its home country and be accepted by offshore authorities where it wants to set up operations.

Based on regional data, ASEAN has a population base of 629 million, with more than a third aged below 20. It is also the third fastest-growing economy in the world next to China and India, according to the ASEAN Secretariat.

BSP: Domestic liquidity remains enough for PHL’s requirements A RANKING official of the Bangko Sentral ng Pilipinas (BSP) on Wednesday assured that domestic liquidity remains high despite the decline in tenders on the central bank’s longer-tenor term deposit facility (TDF).

During Wednes day’s T DF au c t i on , bi d s for the 28-day TDF reached PHP140.76 billion, lower than the PHP150 billion offering and last week’s PHP176.89 billion.

This resulted in a drop

in this tenor’s bid coverage ratio to 0.9384 from 1.1793 last March 15.

On the other hand, bids for the seven-day facility reached PHP39.18 billion, higher than the PHP30 billion offering but lower than last week’s PHP41.13 billion tenders.

BSP Deputy Governor Diwa Guinigundo traced t h e pre fe re n c e for t he shorter-dated TDF to the market’s “positioning for any opportunistic short-

term proposition”.

“This is the reason why, despite the increase in bid to coverage ratio for the sevenday TDF, weighted interest rate stood at a higher level of 2.52 percent,” he said in a text message.

This week, the weighted average accepted yield stood between 2.9873 percent for the seven-day facility and 3.3028 percent for the 28day TDF. Guinigundo p ointed out that if banks feel the

ne e d to i nc re as e t he i r liquidity positions to cater to their clients’ needs, they can easily pull out their placements with the central bank. ”Should there be actual liquidity tightening, all that the banks have to do is to withdraw from the liquidity facilities of the BSP to fund loans, investments, foreign exchange purchases and even public spending on power and infrastructure,” he added. (PNA)

Vista...

mostly of retail spaces within its malls (80%) and offices catering to business process outsourcing locators (20%).

“Reasonably, you can expect that the leasing business will grow easily by double digits this year in terms of share in revenues, net income and EBITDA. It should be at a higher percentage than last year,” Mr. Villar said. The company’s real estate sales, on the other hand, turned out flattish. Revenues from the business rose 2% to P25.03 billion from P24.50 billion, as demand from Filipinos working in the Middle East slowed down.

In 2015, Vista L and registered a 10% increase in real estate sales from P22.32 billion. The overall share of overseas Filipinos in the residential sales of Vista Land failed to rise above 50% when it settled between 50% and 60% in previous years.

“In terms of demand from overseas Filipinos in Middle East, I think we’re affected by what happened in 2016 in terms of the oil price and other uncertainties. You see that sales growth in our residential was slower than in 2015 and a large part of that is because of that,” Mr. Villar said. “ We’r e h o p i n g t h a t weakness does not extend to this year. We are cautiously optimistic that this year will be better. Again, I think it’s just temporary,” he added.

Ve r t i c a l r e s i d e nt i a l proj e c ts, in p ar t ic u lar, delivered less revenue last year. Its share shrank to 8% from 13% partly because the recognition of revenues depends on the progress of the developments.

“I expect that percentage to be higher next year, however, we’re not relying on condominium sales to be the main growth driver of our business. Definitely it will

be over 10% of residential revenues over the long term,” Mr. Villar noted.

Vista Land launched 29 projects, including four mid-rise buildings, with an estimated value of about P26.2 billion in 2016. It plans to launch at least 30 more projects with a cumulative sales value of more than P30 billion within the year.

T h e c omp any l o o k s to invest P35 billion for the development of the additional retail spaces, offices and residences this year. It incurred P30.9 billion in capital expenditures and working capital in 2016.

“We are confident in the company’s prospects for 2017, especially on the leasing side which provides a sig nif icant s ource of recurring income in addition to our core and stable enduser business,” Vista Land Chairman Manuel B. Villar, Jr. said in a statement.

from page 8

billion. The segment widened its contribution to 20% from 13% of consolidated net income; 26% from 18% of EBITDA; and 15% from 10% of revenues.

The company had 17 malls, 56 commercial centers and four offices at end 2016. In terms of gross floor area, its portfolio of leasable properties expanded to 882,009 square meters (sq.m.) from 631,073 sq.m. following the acquisition of Starmalls, Inc. in November 2015.

Vista Land intends to further expand its portfolio of leasable properties to 1 million sq.m. toward the year end and to 1.3 million sq.m. by end 2018. It has identified 100 more locations covering 600 hectares in existing developments for commercial projects.

The portfolio will consist

11

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

fri-sat|March 24-25, 2017

Cigars... from page 1

ownership of the cargoes.

“Initially, the BOC tried to wait for other cargoes that might be consigned to other companies here since there were reports that the hot cargoes would be delivered in 65 container vans,” a BOC official here said.

However, no other cargoes arrived until the BOC decides to open the container van Wednesday, the official said.

He said that the BOC was aler ted by foreign counterpar ts about the contraband when it left the port of Singapore bound for the Philippines last year.

Raval said that the BOC intelligence group came to Cagayan De Oro City to validate the information, which turned out to be positive. (PNA)

Project... from page 1

government-to-government project will be undertaken by the Philippines with the support of the Chinese government but said the latter is very aggressive in pursuing it.

B ut a pre s s re l e a s e issued by Department of Finance (DOF) Saturday said Finance Secretary Carlos G. Dominguez III and China Commerce Vice Minister Fu Z iying, who is also China’s International Trade Representative, formalized the agreement on the conduct of preliminary feasibility studies for the proposed Davao City Expressway and the Panay-Guimaras-Negros Island Bridges Project.

Cortez said the 23.3-km expressway project will be constructed above ground and will be implemented in three phases.

The first phase will cover Carlos P. Garcia National Highway, Maa, Talomo, and Sta. Ana Wharf; second phase will include Carlos P. Garcia National Highway, Maa, Talomo, Panacan; and third phase, Carlos P. Garcia National Highway, Maa, Talomo, Bangkal.

These routes are just initial because the final routes will be based on the feasibility study that will be undertaken, Cortez said.

He said the objective of this latest infrastructure project is to decongest traffic within Davao City by connecting its port to the outer part of the city.

Cortez added it w i l l a l s o “c ompl e me nt ongoing, committed, and proposed projects for further enhancement and improvement of access that will encourage an increase i n e c onom i c a c t iv it i e s and productivity along its influence areas.”

He said that the City G ov e r n m e nt of D av a o will play a coordinative role in this project – that is, to settle the properties and businesses that will be affected and expropriated as the construction of this project will commence.

“It will shorten the travel time of people if their usual

travel route plan is between north and south of the city,” he said.

Na t i o n a l E c o n o m i c Development Authority (NEDA) Director General Ernesto Pernia and Fu Ziying, China International Trade Representative and Vice Minister of Commerce, signed the six-year development program that aimed to “steer and promote stable and orderly development of economic cooperation, enlarge the scope and enhance the level of cooperation, and drive sustainable and inclusive socio-economic development in both countries.”

Vice Minister Fu and Chinese Vice Premier Wang Yang were in Davao City for a four-day visit and met with some of the cabinet officials of President Rodrigo R. Duterte on Friday, among Dominguez, Pernia, Budget Secretary Benjamin Diokno, and Transportation Secretary Arthur Tugade.

In that meeting, the officials from China and the countr y’s economic managers discussed the recent economic developments in the country, the recently approved Philippine Development Plan (PDP) 2017 to 2022, and updates on bilateral cooperation in areas of infrastructure, trade, investments, agriculture, f i s h e r y, t o u r i s m , a n d f i n a n c i n g c o o p e r at i o n between Philippines and China.

Also, China gave the Philippines $91-million worth of grant, which includes a $1-million donation for the earthquake-hit province of Surigao; a $75-million grant for the construction of the Binondo-Intramuros and the Estrella-Pantaleon bridges across the Pasig Rive; and the ongoing $15-million financing provided under the anti-illegal drugs and law enforcement security co op erat ion ag re ement signed last year between the two countries during President Duterte’s state visit to China October last year.

Davao... from page 1

She said the city may need more hotels in view of the declaration of President Xi Jinping of China to bring two million Chinese tourists to the Philippines this year.

The tourism office has yet to release the latest tourist arrivals in the city but the Chinese have been among the top consistent visitors.

“When Chinese come by the thousand, imagine how many rooms would be needed, and at the rate our conventions are going right now. But that’s a very happy problem for us,” she said.

In an email sent on Tu e s d a y, D a v a o C i t y Investment Promotions Center head Lemuel Ortonio acknowledged the concern of the tourism sector for more accommodation facilities after seeing an increase in the number of conferences and conventions.

“Apart from the growing number of tourists, the city has also been hosting a

number of conferences and conventions lately,” he said.

He added that they always highlight the dire lack of hotels to potential investors.

“Whenever we receive interested investors and business groups looking for investment opportunities in the city, we always highlight the need for hotels in the city,” he said.

Ortonio said several foreign and Filipino investors have shown interest to build tourism facilities here.

“On the challenges, there is not much of a problem in attracting per se because there is already a growing interest and spotlight on the city,” he said.

However, he said that the “challenge is actually convincing them that their investment will flourish not just during the term of PRRD (President Rodrigo R. Duterte) in the next five and a half years, but for the long-term,” he said.

Richest...

from page 1 tycoon John Gokongwei Jr., 89, with an estimated net worth of $5.8 billion. But unlike Sy, the JG Summit Holdings founder saw an increase in fortune this year from $5.1 billion in the previous year.

Gokong wei started a cornstarch plant in the 1950s and transformed it into JG Summit with interests in food and beverages, airlines, prop e r t y d e vel opme nt , banking, hotels, and power generation.

He also owns a stake in publicly listed Robinson Retail Holdings and franchises for True Value, Top Shop, Toys R Us, Daiso. He has more than 1,500 retail outlets.

Meanwhile, tobacco king Lucio Tan kept his third spot this year with an estimated net worth of $3.7 billion, which is also lower from last year’s $4 billion.

The net worth of the Tan family includes the valuation of the clan’s shareholdings in flag-carrier Philippine Airlines (PAL).

Ta n , w h o w a s a l s o born in Xiamen in 1934, has business interests in banking, liquor, tobacco and real estate industries.

The 82-year-old taipan is also often seen aboard his personal helicopter in the Makati business district.

Also joining the country’s richest list is Metropolitan B a n k a n d Tr u s t C o .

(Metrobank) owner George Ty, 84, who landed on

the fourth rank, with his estimated net worth of $3.5 billion.

Today, Ty’s Metrobank is the country’s second-largest bank in terms of assets, and has interests in power plants, car distribution, insurance, real estate and among others.

Trailing Ty is casino and port operator Enrique Razon Jr., 57, who saw his net worth at $3.4. The billionaire chairs the International Container Terminal Services (ICTSI), the country’s largest port operator, which also operates through subsidiaries in eastern Europe, Africa and the Americas.

Other Filipino businessmen who made it to the Forbes’ billionaires’ list were fast food chain Jollibee founder Tony Tan Caktiong ($3.4 billion), mining and real-estate developer David Consunji ($3.1 billion), gaming and real-estate de velop er Andre w Tan ($2.5 billion), car dealership magnate Robert Coyiuto Jr. ($1.5 billion), and former Senator Manuel Villar ($1.5 billion).

CAGAYAN C omplDEeORO t i ng he l ist MAINtBRANCH of Filipinos dollar P & J Lim Bldg.,in Tianothe Brothers Kalambagohan Sts., Ramon billionaires club are Tel. # (08822) 727-829 * Ang ($1.4 Eduardo Telefaxbillion), # (088) 856-1947 Cojuangco ($1.2 billion), CAMIGUIN BRANCH Roberto ($1.1 billion) B. AranasOngpin St., Poblacion, Mambajao, Camiguin Tel. and Edgar Sia# (088) ($1387-0491 billion).

Worldwide, Microsoft coCORRALES BRANCH founder CorralesBill Ave.,Gates Cagayan topped de Oro City the Forbes magazine list, while DIVISORIA BRANCH US Donald Trump Atty.President Erasmo B. Damasing Bldg., #61 Don A. Velezmore St., Cagayan de Oro slipped than 200Cityspots.

Tel. # (088) 857-3631 Gates, whose wealth is estimated at $86 billion, led LAPASAN BRANCH Hi-way, Cagayan de Oro City the Lapasan list for the fourth straight Tel. # (088) 231-6739 year, and has been ranked CARMEN person BRANCH in the as the richest Vamenta Blvd., Cagayan de Oro City world for 18 of the past 23 Tel. # (088) 231-2011 years.

Among the top 10 billionaires, a group heavily dominated by Americans, many from the technology sector, Gates was followed

by Berkshire Hathaway chief Warren Buffett, with wealth estimated at $75.6 billion, a $14.8-billion jump from the 2016 list, despite his pledge to give away 99 percent of his wealth.

Others in the top 10 included Amazon founder Jeff Bezos who moved up to number three with the biggest gain of any person on the planet, a $27.6-billion increase to his fortune of $72.8 billion.

Facebook creator Mark Zuckerberg was number five and Oracle co-founder Larry Ellison was number seven.

T h e re are 1 8 3 t e c h billionaires in all with a combined $1 trillion in ANNEX “A”

IN RE: PETITION FOR THE GRANT OF NOTARIAL COMMISSION

SPL. PROC. NO. 21-529

ATTY. PEPITO C. CADAVOS Petitioner.

X - - - - - - - - - - - - - - - - - - - // NOTICE OF HEARING Notice is hereby given that a summary hearing on the petition for the grant of notarial commission of Atty. Pepito G. Cadavos, shall be held on April 12, 2017, at the session hall of this Court — Regional Trial Court, Branch 21, Kapatagan, Lanao del Norte, at 8:30 o’clock in tin’ morning. Any person who has any cause or reason to object to the grant of the petition may file a verified written opposition thereto, received by the undersigned betbre the date of the summary hearing.

(Sgd.) HON. ALBERTO P. QUINTO

Acting Executive/Presiding Judge BWM: March 10, 17 & 24, 2017

wealth, Forbes said.

The global population of billionaires jumped 13 percent from last year to a record 2,043, the biggest annual increase in the 31 years since the magazine began compiling the list, Forbes said.

The US had the most billionaires with 565, a product of the swelling value of the American stock market since Trump’s November 2016 election.

China was second with 319 billionaires, and Germany was third with 114.

Ayala... from page 8

Meanwhile, Uber has teamed up with the Ayala Malls The 30th, Ayala Malls’ newest community mall in the North, in providing uberHOP service to riders during peak hours. For a flat rate of P70,

riders can conveniently access Ayala Malls The 30th to and from the business hubs of Makati and BGC.

Mining... from page 8

Atlas Mining also gained additional revenue from the sale of 25,000 DMT of magnetite for P12 million.

“Operational efficiencies and cost optimization have been the key strategies of Atlas Mining during the recent period of lower copper prices,” the listed miner said.

EBITDA (earnings before interest, tax, depreciation and amortization) last year rose by 46% to P3.174 billion from P2.169 billion in 2015.

The firm wholly owns Carmen Copper Corporation which is engaged in metallic mining and mineral exploration and development.

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

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

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

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

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

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

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF AMENDED NOTICE OF EXTRA- JUDICIAL SALE EJF -2017-041

Upon extra — judicial petition for sale under Act 3135 as amended

by Act 4118 filed by HOME DEVELOPMENT MUTUAL FUND ( PAGIBIG FUND) , as mortgagee against HADIYAH VALERIE L. BONITE , as mortgagor, to which the indebtedness as of January 4, 2017, amount of THREE HUNDRED SIXTY THOUSAND THREE HUNDRED TWENTY PESOS AND 03/100 ( 360,320.03) inclusive of interest and penalty charges, attorney’s fees and expenses of foreclosure, the undersigned will SELL TO PUBLIC Auction on APRIL 14, 2017 at 10:00 o’clock in the morning at the entrance door Regional Trial Court Branch-23,City Tourism Hall, Cagayan de Oro City, to the highest bidder for cash or manager’s checks and in Philippine Currency, the following described properties, to wit; TRANSFER CERTIFICATE TITLE NO. 137-2015000208 A PARCEL OF LAND ( Lot 74, BLK 8 OF THE SUBDIVISION PLAN, Psd-10-031036 , being a portion of Pcn-10-000226) . Situated in the Barangay Lumbia , City of Cagayan de Oro , Island of Mindanao.

Containing an area of ONE HUNDRED TEN(110) sq. meters more or less.

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

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

Done this March 14, 2017 in the City of Cagayan de Oro, Philippines.

BWM: March 17, 24 & 31, 2017

(Sgd.) RICO A. REMALIG Sheriff IV

12

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

fri-sat|March 24-25, 2017