BusinessWeek Mindanao (March 24, 2014)

BusinessWeek MINDANAO

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Volume IV, No. 80

Market Indicators As of 6:10 pm mar. 21, 2014 (Friday)

FOREX

PHISIX

US$1 = P45.29

6,339.26 points

19 cents

X

78.09 points

X

Briefly Township DAVAO City -- An 11-hectare property in Davao’s bustling Lanang district will soon host a P15-billion township project to be developed

by Megaworld.

The property giant whose developments include Eastwood City in Libis, Quezon City, Newport City in Pasay, Mckinley Hill in Taguig and the 72-hectare Iloilo Business Park in Iloilo signaled their entry in Mindanao with a mixused office and residential development situated in the former Lanang Golf and Country Club owned by the Dakudaos.

Named as the Davao Park District, Megaworld’s township will have modern office towers aimed for business process outsourcing companies, there also will be condominiums, malls, commercial strips and a school.

World water day WHERE does our water come from? Is it safe to drink water direct from our taps?

These and other questions were the reason behind the visit of about a hundred Grade 5 students from Corpus Christi School who came in 3 batches to the Cagayan de Oro Water District (COWD) Booster Station in Macasandig.

The students wanted to learn how water is produced and distributed.

The orientation, which was facilitated by COWD’s Production Department and Public Relations/ Information, gave them an illustration on where water is sourced and how it is brought to our taps.

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THE

FOUR-WAY TEST

of the things we think, say or do

1. Is it the TRUTH? 2. Is it FAIR to all concerned?

3. Will it build GOODWILL and BETTER FRIENDSHIP? 4. Will it be BENEFICIAL to all concerned?

Monday|March 24, 2014

P15.00

Davao coal plant gets approval for uprating T

By IRENE DAYO, Staff Writer

HE Davao City Council has approved on second reading a resolution allowing AboitizPower subsidiary Therma South to expand the capacity of its coal-fired power plant project from 300-megawatt (MW) to 645 MW.

With a vote of twentytwo in favor and two voted against, the city’s legislative body has given Therma South a go-ahead sign with the planned uprating of their baseload power plant currently under construction in Brg y. Binugao, Toril district, Davao City and Brgy.

Inawayan, Sta. Cruz town in Davao del Sur. “As we address the ongoing power supply shortage in Mindanao, we also have to

look at the future energy demands of Mindanao.

This expansion will ensure Mindanao will have enough power when demand catches up with supply again in 2017 and 2018,” Therma South President and Chief Operating Officer Benjamin A. Cariaso Jr. said.

The first 300-MW capacity of Therma South, set for commercial operations in the first half 2015, is already coal/PAGE 11

AboitizPower’s coal-fired power plant located in Brgy. Binugao, Toril district, Davao City and Brgy. Inawayan, Sta. Cruz, Davao del Sur. The Davao City Council has overwhelmingly approved the proposed capacity expansion of the plant from 300-megawatt (MW) to 645 MW.

Oro residents urged to Gov’t, MILF gear up for historic use electricity wisely signing of final peace agreement THE Cagayan de Oro City Council on Friday called on local residents here to utilize electricity wisely as the projected power shortage remains uncertain.

Vice Mayor Ian Acenas said that that National Grid Corporation of the Philippines (NGCP), the government’s power distributor, has not issued notice as to when the power shortage in Mindanao would last.

The NGCP also disclosed that a “generation deficiency” would take place unpredictably

THE Government of the Philippines (GPH) and the Moro Islamic Liberation Front (MILF) have firmed up preparations for the historic signing of the Comprehensive Agreement

on the Bangsamoro (CAB) on March 27 at Malacañang Palace.

GPH chief negotiator Miriam Coronel-Ferrer said that the CAB signing seals the partnership for peace

and prosperity between the government and the Moro Islamic Liberation Front.

“This partnership is based on our shared aspiration to heal the wounds of conflict, enable milf/PAGE 11

although there are “efforts to make both ends meet” to make sure that electricity could also be distributed to affected areas in Mindanao, Acenas added. urged/PAGE 11

JUST A DRILL. Amidst the rain, soldiers of the 29th Infantry Battalion jump out of a Simba armored personnel carrier during a simulated camp defense drill in Cabadbaran City, Agusan del Norte Thursday afternoon, March 18, 2014. mindanews photo by erwin mascarinas

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Economy

Woman trains her family to complement her business

By OLIVER BADEL INODEO, Contributor

STA RT I NG a bu s i n e s s with limited resources is a challenge, especially for

women.

For Susana Cabreros, 51, a housewife living in Zone

No.: 09161714813 (GLOBE)

1, Upper Carmen, this city with a husband who earns a meager income from driving ‘motorela,’ life has not been easy until they put up a tailoring business, with a group of women beneficiaries of Pantawid Pamilyang Pilipino Program (Pantawid Pamilya), benefiting from a P10,000 microfinance scheme provided by the Sustainable Livelihood Program of the Department of Social Welfare and Development (DSWD).

Susana is now a businesswoman earning a decent income by heading the Upper Carmen Sisterhood Association with 15-woman members who have engaged in tailoring business here.

Each of the members shared P10,000 to put up a capital of P150,000 to start the business. The group specializes on making jersey tee shirts and shorts, bags jogging pants, polo shirts, among others.

“Naa jud ko’y income matag adlaw nga magamit nako sa among inadlawadlaw nga panginahanglanon (I always have a daily income to defray the cost of our daily needs),” she said.

With the new business, she can fulfill her dream to secure her children’s

education and provide a better life for her family.

Engaging children with the business The tailoring business is just four mont hs in operation.

How e v e r, Su s a n a i s optimistic that her group will go beyond the members’ expectation as they are earning. Susana is earning an average of P200 daily which augments her husband’s income from driving.

Aside from that, her eldest son, Ryan, who is now married, is in-charge of pr i nt i ng t he sh i r t s , short pants, jogging pants and other orders of their customers. Ryan is good in silk screen and rubberized printing. He gets P100 by just printing a pair of basketball uniform.

Susana’s eldest sister, Florenda Degomio, who is also a member of the group, is the master cutter of the shop. She also takes charge in training four other sewers of the shop, ensuring quality and aesthetic value of their services and products.

The shop started with only Florenda and Susana as cutters and sewers. Susana and her elder sister were trains/PAGE 10

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OWWA generate 4,000 jobs through reintegration program OWWA reports 4,000 jobs already generated through P2-B Reintegration Program, a statement said.

The P2 billion National Reintegration Program Fund for OFWs administered by the Overseas Workers Welfare Administration, an attached agency of the DOLE, for OFWs and their families has already generated close to 4,000 jobs all over the country.

This was the report of OW WA Ad m i n i s t r at o r Carmelita Dimzon yesterday to Labor and Employment Secretary Rosalinda Dimapilis-Baldoz, Chairman of the OWWA Board of Trustees. “ The OWWA, which implements the P2-B National Reintegration Program jointly with the Landbank of the Philippines, has recorded 854 approved loan applications as of end of December 2013, with total loans of P632.531 million granted and released,” said Dimzon in her report.

She said that 59 percent of the loans were used to fund small and medium businesses in t he non-ag r ic u lture

sector, such as general merchandising, groceries, water purifying stations, auto supply, hardware, trucking, and RTW. On t he ot her hand, agriculture-based or related enterprises OFWs engage in using the loans range from grains trading, pigger y, poultry, agriculture supplies, post-harvest, bakery, fruits and vegetables farming, copra trading, and fishery. These constitute 41 percent of the loans approved. Region 3 has the highest number of fund borrowers, followed

by Region 4-A. Noting that the national reintegration program is slowly gaining headway as indicated by the number of OFWs availing of the loans, Secretary Baldoz directed the Project Management Committee of the program to strengthen further its implementation to encourage more OFWs to put up their own business and eventually help generate employment.

“I am happy to note that agri-based enterprises are fast catching up with non owwa/PAGE 10

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AMENITIES : ZORBIT * ATV * TREE TOP ADVENTURE BUGGY * BUNGEE * PICNIC GROUNDS PLAYGROUND * CAFE * LUGE * MINI GOLF ROOM ACCOMODATIONS

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CorporateWorld

Pickup, light trucks drive Isuzu PH sales THE Philippine unit of Isuzu Motors grew its sales in the low double-digits last month.

In a statement, Isuzu Philippines Corp (IPC) said it sold 1,033 units in February, 12.8 percent more than the 916 sold in the same month last year.

This brought year-to-date sales to 1,949 units, an 11.4 percent increment from the 1,750 a year ago. IPC sold 11,793 vehicles for the entire 2013.

Driving up sales in the first two months of this year was the D-MAX pickup, demand for which climbed 77 percent to 575 units from last year’s 326.

Also contributing to the uptick were the light- and mediumduty N-series trucks, sales of which climbed 31.4 percent and 19 percent to 310 and 88 units, respectively. “ Is u z u P h i l i p p i n e s’ impressive year-on-year sales result was achieved¨through various promotional efforts,

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improvements in our dealer¨network’s delivery of the sales and service experience, and the launch¨of new models like the D-MAX,” IPC president Nobuo Izumina said.

“That the Philippine economy is currently the healthiest in the region only allows Isuzu to keep in step with the dynamism of the domestic automotive industry. ¨The company has set a 15,000-units sales target this year,” he said.

San Miguel not selling Ginebra stake Cebu Pacific carries PHILIPPINE conglomerate San Miguel Corp. is not selling its controlling stake in liquor maker Ginebra San Miguel, Inc., the group’s president stated, after shares in both firms surged amid market talk about a Ginebra sale.

“Not selling,” San Miguel President Ramon S. Ang told Reuters via a mobile phone text message on Wednesday when asked about the rumors of a Ginebra stake sale. Mr. Ang regularly uses text messages to answer questions.

Ginebra was up as much as

17.4% in early dealing, before paring its gains to 10.3% at the end of trading. The Philippine Stock Exchange index was flat.

San Miguel rose as much as 4.3% in early Wednesday trade before trimming its gains to 0.71% at the end of the session. The stock has surged around 25% in the last three trading days.

Mr. Ang also said via te x t me ss age t h at S an Miguel and its retirement fund were not buying back shares, amid separate market rumors that the jump in the

conglomerate’s shares were due to a company-initiated share buyback plan.

ATTRACTIVE VALUATION Some analysts think San Miguel had fallen to levels that were attractive to bargain hunters. It is up 13% so far this year after falling around 40% for the entire 2013.

“San Miguel (shares) are attractive given relatively low valuations amid the recent uptrend of the main index,” said Manny P. Cruz, market strategist at Asiasec Equities, Inc. in Manila. He said the company was expected to

benefit from the economy’s strong growth momentum given its exposure to the infrastructure and power sectors.

Analysts also said investors could be positioning ahead of San Miguel’s 2013 earnings report due out next week.

San Miguel is expected to book gains from the sale of its stake in Manila Electric Co. last year to Philippine conglomerate JG Summit Holdings, Inc. for P72 billion ($1.61 billion).

San Miguel might post stake/PAGE 10

fewer passengers per flight in February

By Darwin G. Amojelar, InterAksyon.com

InterAksyon.com means BUSINESS MANILA - Cebu Pacific’s load factor slipped last month despite an increase in passenger traffic.

Data from Gokongweiowned Cebu Air Inc (CEB) show that it flew 1.14 million passengers in February, up three percent from last year’s 1.10 million.

This brought year-to-date traffic to 2.42 million, up 4.6 percent from 2.31 million in 2013.

The increase in traffic however was accompanied by a drop in Cebu Pacific’s load factor to 80.7 percent last month from 84.2 percent a year ago. Load factor pertains to number of seats occupied cebupac/PAGE 10

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RESORTS, HOTEL & RESTAURANTS DIRECTORIES

Algen’s Dive Resort (088) 3872015

Philtown Hotel 726295 / 8564402 Fax: 723104

Apple Tree Resort & Hotel 735411 / 754525 Fax: 754497

Pryce Plaza Hotel 8583131 Fax: 726687

Bahay Bakasyunan sa Camiguin (088) 3871057 / 3870131 Fax: 3870278

Prawn House (088) 3095992 Fax: 8519219

Basamanggas Resort 08822-760564 Fax: 760565 Cagayan Riverview Inn 8584245 / 729039 Fax: 8584245 Casa Crystalla 8561704 / 722465 Fax: 722480

Ridge View Chalet 8588946 / 8587946 Fax: 8588946 Seda Centrio Hotel 32288888 Southwinds Hotel 724803 / 8562036 Fax: 8562036 Stargate Dream Vacation Resort 8515003 / 8509999

Casa Isabella (088) 8564065

Casa Azucena 8563402 / 09236593973

Chali Beach Resort 732840 / 8552108 Fax: 8555941

The VIP Hotel 726080 / 8562505 Fax: 726441

Chananthon Bed & Breakfast 8568189 / 3093095

Uptown Condotel 8511800

Country Village Hotel 8583004-06 Fax: 8583006 D’Budgetel 8564200/726643 Fax: 8564300 Dahilayan Forest Park 8568562 to 63

De Luxe Hotel 8572144 / 724548 Fax: 724563 Discovery Hotel 727814 / 8563896 Fax: 8563897 Duka Bay Resort (088) 3312290 Fax: 725265 Dynasty Court Hotel 8574802 Fax: 857900 Grand City Hotel 8571900 / 728469 Fax: 723718 Hotel Conchita 8563856 / 727355 Fax: 8563857 Hotel Koresco 8589749-50 Fax: 8589748 Hotel Sogo 8520383

Kingston Lodge 8585696 Fax: 8585696 Mapawa Natures Park 8584402 Fax: 725265 Mallberry Suites 8541999 / 7249999 Fax: 8544999 Maxandrea Hotel 8572244/729943 Fax: 724090 Miami Inn 8581901 to 02 Fax: 725279/728486 N Hotel (088) 8801924

Paras Beach Resort 8568563 Fax: 8568563

Tune Hotel 8800888/8801306 Travelers Pod 8518988

Villa Paraiso Apartelle 3870419 Fax: 3870429 HONORARY MEMBERS:

Dept. of Tourism 723696/726394 / 8564048 Fax: 723696

RESTAURANTS:

Bigby’s Café 72-1071/857-5511/8575836 Fax: 711843 Café Laguna 8582999 Fax: 8567001 DM Villaruy Restaurant 733790

Golden Ajirang I 856-5271 Fax: 727876 Grand Caprice Restaurant 72-6955/856-2302 Fax: 72-4986 Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003

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AgriBusiness UN warns food security a risk to Asia-Pacific ULAN BATOR – The world must incre as e its fo o d production by 60 percent by mid-century or risk serious food shortages that could bring social unrest and civil wars, the UN Food and Agriculture Organization (FAO) said on Monday.

Demand for food will rise rapidly over the next few decades as the world population surpasses 9 billion and increasingly wealthy people improve their diets, consuming more calories, said Hiroyuki Konuma, the assistant director-general of FAO Asia-Pacific, as the body launched a oneweek regional food security conference in Ulan Bator.

But as the need for more food increases, the world is spending less and less money on agricultural research, causing many scientists to doubt whether food production can keep up with demand growth.

“If we fail to meet our goal and a food shortage occurs, there will be a high risk of social and political unrest, civil wars and terrorism, and world security as a whole might be affected,” said Konuma.

The challenge is especially demanding in developing

nations, which need to boost crops by a staggering 77 percent, he said.

The Asia-Pacific would be left with more than half a billion chronically hungry people even if the region meets its millennium development goal of cutting that number to 12 percent

of the population, he said.

Despite progress made in fighting global hunger, the world still has 842 million undernourished people, according to FAO, of which nearly two thirds live in the Asia-Pacific. One in four children under five warns/PAGE 10

France bans Monsanto GM maize ahead of sowing season PARIS - France’s agriculture ministry on Saturday banned the sale, use and cultivation of Monsanto’s MON 810 genetically modified maize, the only variety currently authorized in the European Union.

The French government, which maintains that GM crops present environmental risks, has been trying to institute a new ban on GM maize (corn) after its highest court has twice previously struck down similar measures.

The decision is timed to avert any sowing of GM maize by farmers before a draft law is debated on April 10 aimed at banning planting of GMOs (genetically

modified organisms). “ The sale, use and cultivation of varieties of maize seed from the line of genetically modified maize MON 810 (...) is banned in the country until the adoption, on the one hand, of a final decision, and secondly, of (EU) community action, “ said a decree published on Saturday.

Annual sowing of maize in France gets under way in the second half of March.

The current Socialist government, like its conservative predecessor, has opposed the growing of GMO crops in light of public suspicion and widespread protests from environmentalists.

Longstanding differences b e t w e e n E U c ou nt r i e s resurfaced in Febr uar y when they failed to agree on whether or not to approve another GM maize variety, Pioneer 1507, developed by

DuPont and Dow Chemical, leaving the way open to the EU Commission to clear it for cultivation.

France is trying to win support to overhaul the EU rules. — Reuters

Govt mulls open bidding to boost rice buffer stock THE Philippines now holds only two rice procurement agreements involving Vietnam and Cambodia after the deal with Thailand expired last December, and Manila is now thinking it should conduct an open bidding by asking other countries to bid for an 800,000 metron ton

supply contract. “ This is one of t he options being considered,” Agriculture Secretary Proceso Alcala told reporters on the sidelines of the Philippines Economic Briefing in Pasay City on Tuesday.

Under an open bidding, stock/PAGE 11

La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605 Max’s Restaurant 8586297 Fax: 8568264 Missy Bon Bon 8566852 / 09228606442 Fax: 8566852 SLERS Ham & Café 8551438 Thai Me Up 738424/3108424 Fax: 738424 Barkadahan Grill 8551234 La Tegola Cucina Italiana 8585959

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LAMBO MISAMIS ORIENTAL. Governor Bambi Emano shares smiles with the women of the municipality of Talisayan as he graces their women month celebration on March 15, Saturday. The EMANO ADMINISTRATION values the role of women in the society, thus the Governor further acknowledges all JUANA in the Province of Misamis Oriental.

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Banking&Finance

Thrift banks will thrive in ASEAN integration – BSP BANGKO Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. on Friday said the thrift banking sector’s consumer finance business will thrive when the ASEAN trade bloc markets are integrated beginning next year.

Tetangco said it is in consumer finance, which is the “very crux of what defines thrift banks,” that the 71 local savings banks can compete. As data would show, 66 percent of thrift banks’ assets are in loans compared to the larger universal and commercial banks with 47 percent.

“The good news is that several indicators suggest that the prospects of our consumer finance market remains promising,” Tetangco told participants of this year’s Chamber of Thrift Banks’ national convention.

Fo r o n e t h i n g , t h e country’s demographics alone bodes well for thrift banks.

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OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

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 – 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

Tetangco pointed out that 35 percent of Filipinos are younger than 15 years old as of end-2012. This percentage, he explained, is much higher than the rest of ASEAN with a 25.8 percent average, and those of China, Japan and South Korea which average 17.7 percent, while North

America is at 19.3 percent and the euro area at 15.3 percent.

The numbers indicate that a huge portion of the population will become consumers in the next 10 to 20 years. “This is not to say that the current consumer market is not already attractive,”

budget for rehabilitation and realigned about P15 billion to P20 billion of budget.

Likewise, the government h a s t ap p e d t h e As i a n Development Bank, Japan International Cooperation Agency and the World Bank for a combined P80 billion concessional loans. Abad said they plan to spend bulk of the rehabilitation budget within the first semester of the year.

“We were already moving funds for rehabilitation, and in fact for January, we practically released all the requirements that was collected in 2013, so that now we are moving to release all

the 20 billion rehabilitation and reconstruction fund that is in the budget,” Abad told reporters.

With the forthcoming release, Abad said the national government has requested the local government units (LGUs) as well as implementing agencies to start preparing for the release of those funds.

“I can tell you that the acceleration would even be better this year because we had pre-procured many of the programs for 2013,” Abad said.

“We have already the savings from time because dbm/PAGE 8

Tetangco stressed. He cited the greater number cellular data subscriptions in the country compared to other nations in the region, while internet penetration rate is also growing at par with that of Singapore, Thailand, Malaysia, Indonesia, China bsp/PAGE 8

BSP slashes current account forecast THE Bangko Sentral ng Pilipinas (BSP) is reducing this year’s forecast surplus for the current account after falling short of last year’s target.

In a pre ss br ie f ing , BSP director for economic statistics Rosabel Guerrero today said the fourth-quarter surplus climbed 21.8 percent year-on-year to $3 billion to end at $9.4 billion for the entire year, a 36 percent increase from the 2012 figure.

Despite the double-digit slashes/PAGE 11

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

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

BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406

PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438

BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263

PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184

BPI- COGON Osmeña St. Cdoc 8571297/8571298

PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386

CHINA BANK –GAISANO 745887/745880

QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390

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

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

DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649

SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774

DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

SECURITY BANK- LKK Limketkai | 8801258/8801625

EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081 EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331 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

MISAMIS ORIENTAL – VICE GOVERNOR JOEY G. PELAEZ made another round of books distribution, this time in Tagbocboc Elementary School, Talisayan, Misamis Oriental. The books were donated by Children International Philippines, Inc. The turn-over ceremony was witnessed by the teachers, Barangay Officials, parents and pupils from the said school. This is part of Vice Governor Pelaez’s advocacy of improving the skills in reading and comprehension of every student in the province. Vice Governor Pelaez is the Chairman of the Committee of Education of the Sangguniang Panlalawigan.

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BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203

DBM releases P30B for Yolanda rehab THE national government has released a total of roughly P30 billion for the rehabilitation for Yolanda-hit areas in central Philippines during the first two months of the year, a cabinet official said yesterday.

On the sidelines of the Philippine Economic Briefing, Budget and Management Secretary Florencio B. Abad said that there is a greater push for spending for the rehabilitation of typhoon-hit areas after the government spent P23 billion in December last year.

For this year, the Aquino administration has earmarked P20 billion of the national

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Charge What You’re Worth

T

h i n k a m i n u t e . Yo u may have heard about Henry Ford. He was the first to use the assembly line in his factory for mass production. So every day his factory built and sold many cars. Well, one day the big generator that produced all the electricity for Ford’s factory suddenly stopped working. The whole factory shut down costing Ford a huge amount of money. So he quickly called one of the top engineers in the nation to come fix the generator. This expert engineer arrived and began looking and tinkering with the big generator. After only one hour, the engineer had found the problem and fixed it! So Ford’s factory immediately began making cars and money again.

A few days later Henry Ford got the bill in the mail from that top engineer for fixing his factory generator.

The bill was $10,000! Ford c ou l d n ot b e l i e ve h ow expensive it was, so he called the engineer on the phone.

He said: “Excuse me, Sir, but isn’t $10,000 rather high for just 1 hour of tinkering?”The engineer answered: “Mr. Ford, I’m charging you $10 for my 1 hour of tinkering, and $9,990 for knowing WHERE to tinker!” Ford answered: “Well, I guess you’re right.” And Ford paid the engineer his $10,000.

Did you know that people

THINK

A Minute

By Jhan Tiafau Hurst

will usually accept your own estimate of yourself? In other words, they will give you the same worth you give yourself.

So don’t sell yourself short!

I’m not saying we should go around with big egos and pride, thinking we’re better than other people. But if you have special abilities, training, or experience in a certain skill, then you can have reason to be confident in your special ability and charge what you’re worth.

You may be skilled and good at working with computers, cooking, sales, building, or something else.

The One Who really knows your abilities, Who can help you know what they are, is the One Who created you.

And no matter how much you’re worth in the world of work and business, your real worth comes from how much your own Maker was willing to pay for you. You hurst/PAGE 8

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Retired, But Not Tired

A

t 86, Concerned Senior Citizen Fidel V. Ramos, describes himself as : “Retired, but not tired.

Ex, but not excess. “ Indeed, the former President is ver y much around, taking advantage of every opportunity to exhort Filipinos to “Care, Dare and Share” and to be competitive as a nation through UST – “Unity, Solidarity and Team Work”.

He does this through his “Sermons”, a multi-volume compilation of his speeches and writings, and through his public speaking engagements, here and abroad.

FVR is now acknowledged as an Eminent Person of Asia, if not of the world.

But we, from Muntinlupa City, would like to remember FVR as Muntinlupa’s Favorite Son. A long time resident of Muntinlupa, FVR loves to recount how early in his military career, he patrolled

the Muntinlupa- Cavite boundary area to catch cattle rustlers.

When Ayala developed Ayala Alabang in the early 80s, FVR became one of its first residents.

Many remember FVR as the quiet next door neighbor.

He moved around the village unobtrusively. If he had any close-in security at all, they were practically invisible.

When FVR decided to join JPE at EDSA, concerned neighbors organized their own People Power to form a protective ring around Mrs. Ming Ramos and FVR’s daughters. This event has come to be commemorated as “EDSA sa Alabang”.

A physical fitness buff, FVR frequented the Alabang Country Club gym and its swimming pool. A strong swimmer, FVR could swim backstroke the length of the pool, cigar in his mouth, without the cigar ever getting wet!

At the height of the nine coup attempts by Gringo Honasan against President Cor y, Alabang resident Elo Javier could accurately predict whether we would have a quiet day or not just by observing FVR’s demeanor.

“There would be no coup attempt today,” Elo Javier would confidently say. “Look at FVR. He is so relaxed reading the newspapers by the pool side. Vintage Steady Eddie.”

(Elo and his elder brother Ted Javier served as my volunteer security advisers w hen I was Mayor of Muntinlupa.)

Wearing his famous verrry short shorts, FVR would be up early at the Alabang Country Club to play a round of golf with his foursome.

But it was not all golf. FVR would jog from one hole to another (instead of walking or using the golf cart).

Recently, I asked FVR about his golf handicap. He

SPEAKING

O ut

By Ignacio Bunye

shooked his head: “Tumaas na, Toting.” Ask why, he replied: “When I was President, isang dipa pa ang bola sa butas, give na. Now, I always have to putt through.”

FVR is rightly given credit for many reforms which took place during his Presidency.

Three of them impacted me directly.

His efforts to de-monopolize t e l e c om mu n i c at i on are benefitting every Juan and Maria who now have easy bunye/PAGE 8

RP Missing Out On What Will Solve Ills

L

IFE’S INSPIRATIONS: “… for it is time to seek the Lord…” (Hosea 10:12, the Holy Bible).

-ooo RP MISSING OUT ON WHAT WILL SOLVE NATION’S ILLS: It is perhaps not accidental that there are now some people in various Internet groups who have taken time out to discuss how spirituality and submission to God through His Word can solve the many debilitating problems the Philippines and the Filipino people are facing today.

It would seem to me that these emerging discussions on spirituality and submission to God are an indication that, indeed, many of the solutions that supposedly bright and learned and even patriotic Filipinos have offered to solve our problems (like corruption, poverty, and lack

of a principled direction for success) have proved to be useless and inutile and have not really solved anything.

And that is the truth, really. In solving the many problems we are all facing, many of the well-meaning Filipinos who have dared offer their thoughts on how to confront and then solve the problems have missed out on one important aspect of problem-solving, which is the spiritual aspect.

-ooo TIME TO CONSIDER SPIRITUAL OPTION: The evident result is clear: because we have been trying to find a solution to our problems using only human intelligence, we have miserably failed to find those solutions throughout our history as a nation. The Philippines and the Filipino people remain mired in corruption and poverty and

sorely lacking in principled directions for success.

It is therefore time to consider spirituality in solving our problems as a people.

We must derive inspiration from the one single book that offers spiritual solutions even to the most grave problems confronting a nation, which is the Bible. We must read the Bible and learn from the many examples of people who placed their problems in the hands of God and came out victorious and successful and financially-blessed.

Let us start off with the story of King Jehoshaphat, which is found in 2 Chronicles 19-20. At one point in his kingship, three kingdoms united, formed one vast army, and proceeded to invade him. Jehoshaphat and his people prayed to God, who responded through a prophet: “Do not be afraid because of

K akampi

Mo A ng Batas

By Atty. Batas Mauricio

this vast army… You will not have to fight… stand firm and see the deliverance of the Lord…”

-ooo READ, MEDITATE ON, OBEY THE BIBLE: Indeed, Jehoshaphat and his own forces did not have to fight.

At the appointed time for battle, God Himself stirred their enemies and made them batas/PAGE 8

The Perfection Of Love

B

e perfect just as your h e a v e n l y Fat h e r i s perfect.” (Mt 5,48) Very clear is the injunction of Christ to us. It should not be taken lightly, but with faith, hope and charity, with a holy bull-headedness, it should be followed, convinced that God’s grace is always there to help us carry it out.

As a necessary consequence, since we should not just be beings of desire but also persons of action, we should do everything to make this goal reachable and a functioning, albeit streaming reality in the lives of each person and of society in general. May this divine order be obeyed and lived consistently!

We need to come out with effective spiritualities that

would animate us to seek this Christian perfection without let-up, whatever the circumstances may be.

This should be an object of intense prayers by all of us.

Of course, we need to understand first of all what this perfection is all about, for many now are the ideas and theories about the essence of this perfection, and most of them actually miss the real thing.

There are those who associate perfection with mere looks and appearances, social standing, wealth and health, power and fame.

Ironically, when these criteria are not properly grounded on what truly makes us perfect, they become not only passive but also aggressive enemies of our perfection.

The divine order to be perfect comes as some kind of conclusion to Christ’s long discourse, all in Matthew 5, about the beatitudes, about us being the light of the world, about the need to follow strictly the law but also to go beyond it, about our need to make our righteousness surpass that of the scribes and the Pharisees.

It comes after being told that we should not be afraid to cut a hand or to pluck an eye if they are in the way of our sanctification and salvation.

Also, that we should not resist evil, that is, if one strikes us in the right cheek, we offer the other. Then, to top it all, Christ told us to love even our enemies.

All these premises are pregnant with implications,

HINTS

and

Traces

By Fr. Roy Cimagala

both theoretical and practical. In these times of rapid communication and information, we should be very aware of them and try our best to live them.

We have to learn to leave behind what so far we think is loving, because love by nature cimagala/PAGE 8

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DILG observes world water day The Department of the Interior and Local Government (DILG), region 10, in cooperation with the Water Supply and Sanitation Unit, Office of the Project Development Services (OPDS), will celebrate World Water Day on March 24, 1:00 p.m. until 7:00 p.m., at the SM Shopping Mall, Cagayan de Oro City.

This significant event, with the theme “Water and Energy,” aims to raise awareness on the inter-linkage between water and energy.

Promote and advocate to the people the importance of conserving water resources and to have better access to safe drinking water, adequate sanitation and food energy services.

Focus public attention on the critical issues on water-energy and the role of gender in family access to safe water.

Further, to facilitate the development of policies and crosscutting frameworks that bridge the different sectors leading the way towards energy security and sustainable water use in a green economy.

Local Chief Executives are invited to witness the event. DILG Undersecretary Austere A. Panadero is also invited to join the celebration and grace the occasion.

Among the highlights of the event will be: film/ video presentation on water stories; Joey Ayala’s inspirational songs to be performed by the Cagayan de Oro City Chorale Group; on-the-spot poster making contest; exhibit of Millennium Development Goal Fund (MDGF) 1991 PosterMaking Contest National Awardees; showcasing of Water Source Validation of Sagana at Ligtas na Tubig para sa Lahat (SALINTUBIG) and Grassroots Participatory Planning and Budgeting (GPPB) beneficiaries.

Two representatives of selected 15 private and public high schools in Cagayan de Oro City with their respective coaches are the main character during on-the-spot poster making contest.

(Ana Celeste W. Felisilda/DILG-10/PIA)

7

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Longer lasting power this summer with Acer Aspire E1 Beat the sizzling heat of summer with the new Ac e r A s p i r e E 1 - 4 1 0 28204G50Mn. Powered by 2500mAh 14.8V 4-cell Li-on battery pack, this 14” road warrior runs an outstanding 6.5 hours of battery life so you could do more on and off the road.

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For detailed specification and availability, please contact MSI-ECS at 6883180 or e-mail marketing@ msi-ecs.com.ph.

Residents of Opol, El Salvador and Laguindingan Get Exclusive Discounts from The SM Store The SM Store is giving away exclusive discounts to all residents of Opol, El Salvador and Laguindingan communities. Exclusive promo offering runs until March 27.

Simply present any proof of residence with your SM Advantage, SM Prestige, BDO Rewards or Mom card upon payment to avail 10% discount with a minimum P1,000 single receipt purchase on all regular priced

items from any selling department inside The SM Store.

Not yet a member? Avail of the SM Advantage Card for only P150 from The SM Store Customer Service Counter, Cash or Charge Counters, Supermarket Bills Payment Counter, and all Savemore branches.

Do not miss this exclusive offer. Keep shopping at The SM Store Cagayan de Oro.

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

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monday|march 24, 2014

BSP...

Bunye...

and Japan.

On average, the thrift b a n k s’ c o n s u m e r l o a n portfolio — auto loans, credit card and residential real estate loans have been growing at an annual rate of 15 percent, 14 percent and nine percent respectively.

“A SE A N i nte g r at i on opens up a bigger regional market,” Tetangco said. “After all, the economic prospects of ASEAN as a whole have always been premised on its retail market.” ASEAN has a base of over 600 million individuals in 10 jurisdictions whose collective GDP in 2012 amounted to $2.27 trillion.

With this environment, Tetangco again reiterated that the consumer finance market in the ASEAN context has huge potential for expansion.

Since thrift banks mobilize retail saving and generate credit exposures to the consumer finance market, consumer finance is “tailorfit” for the sector.

access to telephone land lines and cell phones. Compare that to the time when one had to wait years to get a line.

For Mu nt i n lup e no s , FVR signed into law the Muntinlupa City Charter.

For BSPers, FVR signed into law the New Central Bank Act which refocused the central monetary authority’s mandate to that of keeping inflation low and stable.

Once, FVR visited Muntinlupa City Hall to proclaim his official candidates for the 1995 local elections. Over coffee, and his trademark unlighted cigar, FVR gave his anointed candidates precious tips on how to campaign.

“I call this 4K,” FVR started.

“First K. Kawayan. Wave at the people. By waving you immediately establish contact with them even from afar.

“Second K. Kamayan. Up close, shake their hands.

Your hand shake must be firm. While shaking hands, don’t forget the eye contact.

“Third K. Kumustahan.

While shaking hands, ask a general question about t h e f am i ly. Ev e r y b o d y appreciates being asked about his/her loved ones.

“And don’t forget the last K. Kodakan. Filipinos are very fond of picture-taking.”

“4K is a sure-fire formula,” FVR said with a wink and a ‘thumbs up’.

One does not need to be a politician to profit from FVR’s advice.

Belated Happy Birthday, Mr. President!

from page 5

DBM... from page 5

of the early procurement that’s about three months, and then the time saved for the releasing processes, that’s easily six months savings, and then of course there’s the urgency and the pressure to deliver rehabilitation and reconstruction projects to the four regions affected,” he added.

Earlier, the Department of Budget and Management (DBM) said that the government will require P 3 6 0 . 9 bi l l i on for t h e reconstruction and recovery of areas devastated by supertyphoon “Yolanda.”

The government said funding for shelter and resettlement of survivors would require P183 billion, while education and health services for the area will need P37.4 billion budget and P28.4 billion will be for public infrastructure.

Industry and services in Yolanda-hit areas will also need P70.6 billion, while funding agriculture and social protection will require P18.7 billion and P18.4 billion, respectively, NEDA said.

Local government, on the other hand, will need P4 billion.

For 2014 a lone, t he government has earmarked P90.6 billion for the reconstruction and recovery effort after spending P34.5 billion for critical and immediate initiatives for Eastern Visayas in November and December this year.

Hurst... from page 6

see, the price God Himself paid for you was when He gave His own perfect life on a criminal’s cross to save you and me from living without Him and suffering forever. So why not ask Jesus to forgive you and give you a new life today? He can take full charge of your life every day and show you what you’re really worth.

Just Think a Minute.

from page 6

Batas... from page 6

fight against one another.

And after all the enemies were killed by their own swords, Jehoshaphat and his men then seized the riches of the invaders, and it took them all of three days just to haul the loot.

Many will scoff at this Biblical account of God’s deliverance and provision and say that this is fiction.

But, why not give it a try?

I mean, we have tried all other solutions and have failed. Why don’t we try God’s solution, as enunciated in the Bible, this time? We can start availing of God’s solution by obeying the command in Joshua 1:8 truthfully and sincerely.

Joshua 1:8 says we should not forget to read the Book of the Law (the Bible) everyday, meditate on it day and night, and carefully obey everything that is written in it. The promise is this: if we do all these three commands, we shall become prosperous and successful. Our people must therefore set aside a definite time to read the Bible, think about the Bible, and obey the Bible.

-ooo REACTIONS? Please call me at 0917 984 24 68, 0918 574 0193, 0922 833 43 96. Email: melaniolazomauriciojr@ outlook.com, batasmauricio@ yahoo.com and mmauriciojr111@gmail.com.

Cimagala...

from page 6 goes without measure. We have to follow its unending quest and adventure, relying mainly on the impulses of God’s grace.

What is ironical is that in spite of our very advanced information technolog y, many of us may be gaining a lot of technical and scientific knowledge, but losing the religious knowledge and wisdom. We need to do some drastic revision of attitudes.

What is clear is that we have to revolutionize our understanding of love which is the essence of our perfection. It should go beyond the parameters of our human condition, and give the dynamics of graceful play.

In practical terms, this could mean that we should never say enough to the demands of love. Loving requires us to be vitally in touch with God through prayers, recourse to the sacraments, development of virtues, carrying out of our responsibilities.

If we persist in praying, we can increasingly discern God’s will for us moment to moment. Our capacity to follow his will and to receive and share his powers and wisdom increases. We would just find ourselves swept by the forcefulness of his love.

What we found before as difficult, if not impossible, to do, we would find it rather easy now.

This perfection of love has endless manifestations.

We would always think well of others in spite of their mistakes and even their offenses against us.

Like God, we would be slow to anger and quick to forgive.

On our part, we should learn to find reasons to love everyone. We should not just wait for them to prove that they deserve our love. We initiate that love at the impulse of grace.

T h at t h e y are p e r s ons , like us, is already enough for us to love them with madness.

We h ave to l e ar n to find excuses and to bear whatever burden and inconveniences others may cause. We will always speak well of others. We have to le ar n how not to b e scandalized by their sins and failures. More than this, we should be eager to give them the best-and that’s none other than God.

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monday|march 24, 2014

PDIC–GAWAD KALINGA PARTNERSHIP. PDIC President Valentin A. Araneta, seated left, and Gawad Kalinga Executive Director Jose Luis Oquiñena recently signed the Memorandum of Agreement for the conduct of PDIC’s corporate social responsibility (CSR) program for the rebuilding of homes for the benefit of victims of Typhoon Yolanda. The PDIC-GK partnership will put into action PDIC’s CSR statement of protecting the environment and promoting the balanced development of communities. To kickstart the CSR program, the PDIC is holding “Takbo sa Pagbangon ng Leyte” scheduled on May 4, 2014 at the PNB Financial Center in Pasay City.

Proceeds from the benefit run will be used to help rebuild homes for the Typhoon Yolanda victims.

With the two signatories are PDIC and Gawad Kalinga officers.

SM JOINS EARTH HOUR 2014 Earth Hour is a simple concept that quickly turned into a global phenomenon.

Last 2013, over 7,000 cities, towns, provinces

and municipalities in 154 countries and territories joined and switched off their lights for one hour to highlight awareness on

global climate change.

On the 29th of March 2014, from 8:30pm to 9:30pm, SM City Cagayan de Oro will once again join Earth Hour to inspire everyone, as well as to make a stand in creating a better future for our planet.

Join us this E ar th Hour. Let us go beyond the hour, so after the lights go back, think of how we can continuously make a difference.

ZTE intros MF90 4G LTE Pocket WiFi

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Trains... from page 2

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forced to train the three other sewers of the group for three months which, consequently, yielded a positive response and result.

“Pwede na namo sila mabiyaan karon kay maayo naman sila (They can perform now without our supervision),” Susana said.

Designing bags, shirts and pants is not new to Susana.

She learned designing from her previous work from a private tailoring company based in this city. However, most of the shop’s products are patterned from the catalogues they bought.

If the customer wants customized designs for bags, t-shirts and pants, her 12year old daughter, Crystal, c an e xc el l e nt ly hand l e the job. Crystal has been into customized designing since the start of the shop’s operation.

Susana disclosed that Crystal only helps in the shop after studying. She considered the participation of the members of her family as individual training in preparation for better future.

Susana’s family is one of the Set 1 beneficiaries of Pantawid Pamilya who received grants from SLP in Northern Mindanao.

SLP is a community-based capacity building program of DSWD that seeks to improve the socio-economic status of program participants.

It is implemented through the C ommunity-Driven Enterprise Development (CDED) approach, which equips the program participants to actively

contribute to production and labor markets by making use of available resources and accessible markets.

OWWA... from page 2

agri-businesses that our OFWs are venturing into using the money from the P2-B National Reintegration Fund,” Baldoz said, adding: “ L a s t y e a r, I h a v e i ns t r u c t e d t h e Proj e c t Management Committee to cut down and simplify further the requirements for availment and we had met with Landbank officials in this regard. I expect that this year, the committee can already report to me and the OWWA Board that access to the program has become faster and easier, but without sacrificing the quality and sustainability of the businesses that the loan program creates,” Baldoz said.

Launched by President Benigno Simeon Aquino III in June 2011, the P2-B National Reintegration Program is a facility which lends between P200,000 to P2 million to any OFW who wants to establish a business so it will be more attractive for them to stay in the country for good. The loan has an interest of only 7.5 percent per year and payable in five years with a grace period of two years.

The loan program seeks to enhance protection of migrant workers which is a major mandate of the DOLE. “ The protection of OFWs is a major mandate of the DOLE. It protects and promotes the rights and welfare of OFWs and their families through the provision

of social, economic, and legal programs and services in pursuit of President Aquino III’s economic vision of “a government that creates jobs at home, so that working abroad will be a choice rather than a necessity; and when its citizens do choose to become OFWs, their welfare and protection will still be the government’s priority,”’ said Baldoz.

For businesses funded under the program to be sustainable, Secretary Baldoz had advised OFW borrowers to thoroughly study and understand their business plans prior to filing their loan application.

CebuPac... from page 3

per flight.¨Year-to-date, the airline’s load factor also slipped to 81.9 percent from 84.1 percent last year.

Jorenz Ta n a d a , spokesperson of the countr y’s largest budget carrier, attributed the higher passenger traffic to the increase in the number of flights and seat capacity.

“CEB took delivery of one A320 in January and one A330 in February this year. However, increase in seat capacity was faster than passenger growth which may have affected the load factor,” Tanada said.

In a disclosure to Singapore Stock Exchange, Tiger Airways Holdings Inc said Tigerair Philippines recorded passenger traffic of 107,000 in February, up 20.9 percent from last year’s 89,000.¨Tigerair’s load factor also rose to 82.4 percent from 74.8 percent over the same period.

Cebu Pacific earlier said it completed yesterday the purchase of Tigerair after securing the approval of the Civil Aviation Board (CAB).

The transaction was valued at $15 million.

With CAB approving the deal, Cebu Pacific now has to seek Congressional approval since the legislature issues its franchise as a public utility.

Cebu Pacific posted a

net income of P512 million in 2013, or 85.67 percent lower than the P3.57 billion in 2012.¨Revenues for the entire 2013 amounted to P41 billion , down from P37.90 billion the previous year.

Stake ... from page 3

2013 net profit of P57 billion, Mr. Ang said earlier this year, more than double the previous year’s earnings.

San Miguel is sticking with a plan to offer to the public a portion of its stake in SMC Global Power Holdings Corp., and at the same time get a cornerstone investor for its power generation arm, Mr. Ang also told Reuters via text message.

SMC Global, the Philippines’ biggest power producer, was earlier hoping to raise this year about $1 billion from the sale of a 49% stake.

San Miguel, which started as a brewery more than a century ago, has aggressively expanded over the last five years into power, airlines, mining, telecoms, oil refining and distribution, and infrastructure, while maintaining its status as the country’s dominant food and beverage firm. -- Reuters

Warns... from page 4

years old are stunted due to malnutrition.

The UN body outlined two main options: increase arable land areas and boost productivity rates.

But available arable land is almost fully exploited, and pro duc t ion g rowt h rates have been lackluster for the past two decades.

During the green revolution in the 1980s, productivity rates for rice and wheat increased by 3.5 percent annually, but for the past 20 years the rate has been stuck at 0.6 to 0.8 percent.

The growth rate needs to be stable at around 1 percent if the world is to have a theoretical chance to avoid serious shortages, said Konuma.

Water scarcity in big food-producing nations like China is worsening, a n d m a ny f a r m e r s a r e increasingly tempted to shift production from f o o d t o b i o e n e r g y, a popular option to cut emissions of climatechanging greenhouse gases.

Climate change is worsening the situation, as more frequent extreme weather events devastate crops. In the past three years, Australia, Canada, C h i n a , Ru s s i a a n d t h e Un i t e d S t a t e s h a v e a l l suffered big harvest losses from floods and droughts.

Cost is an additional threat to food security, according to the UN body. High and volatile food prices restrict poor people’s access to food, while high crude oil prices inflate production costs.

– Reuters

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Coal... from page 1

almost contracted out to distribution utilities and electric cooperatives in Mindanao.

The expansion is set for completion in 2017 and 2018, when demand for power in Mindanao will be expected to exceed supply once again.

“AboitizPower’s main interest in expanding this plant is to help Mindanao avoid repeating the big problem of the past where it failed to build the power plants needed before the demand for power kicked i n . As a c ons e qu e nc e, most parts of Mindanao have, for years and until today, been experiencing prolonged and frequent brownouts and it’s growth and development has been severely affected,” Manuel M. Orig, AboitizPower first vice president for Mindanao affairs said.

The power plant will also be using circulating fluidized-bed technology to ensure the power plant, during operations, will meet national and international environment and health standards.

The City Council quizzed Therma South on its committed carbon sink management program which the company launched in partnership with Matigsalog i n d i ge n ou s p e op l e s i n barangay Marilog of the city.

More than just a tree planting site, the 1,000-hectare area of the program will reforest the ancestral lands which is also serves as Davao City’s watershed.

By organizing, capacitating and financially assisting IPs, Therma South aims to cover 1,000 hectares with timber and agro-forest trees in 10 years. The proceeds of which, will go to the partner-beneficiaries and their families.

The trees have been computed to significantly offset the carbon footprint of the power plant.

The company committed to the city council to double the area of its carbon sink with the expansion. The company also committed to establish similar projects in other areas as well as set up mangrove parks along the coastline near the project.

Urged... from page 1

The Misamis Oriental Electric Service Cooperative (MORESCO) 1 that also supplies portion of power needs in Cagayan de Oro City also informed the City Council of the “power deficiency” since Februay 27, Acenas said.

In his letter, MORESCO I Gen. Manager Julie Real informed the City Council that the power deficiency in Mindanao has reached a total of 220-megawatt since February 27 that has resulted to rotating blackouts in some parts of Mindanao, Acenas said.

In his public appeal, Acenas

urged the city residents and power consumers to save electricity, especially during the peak hours from 6:00 p.m. to 9:00 p.m., to avert an irreversible power shortage in the city. (PNA)

MILF... from page 1

meaningful autonomy for the Bangsamoro, and nurture peace and development in Muslim Mindanao.”

The CAB brings together all the major agreements signed by the parties in the course of the 17-year n e g ot i at i on s . It s m o s t important parts are the Framework Agreement on the Bangsamoro (FAB) and the four Annexes. These documents provide for the road map and the terms pertaining to the creation of the Bangsamoro entity and the transformation of the MILF from an armed group to an active participant in governance and societal reform.

“From the FAB to the CAB, we have come a long way,” said Coronel-Ferrer.

“We dedicate the signing of the CAB to all the people who have helped us reach this stage in the journey. To them we owe this opportunity to bring our people closer together toward shared peace and prosperity under one country standing tall before the global community.”

Big event More than a thousand people are expected to attend the event at Malacañang.

Government chief negotiator Colonel-Ferrer and MILF panel chair Mohagher Iqbal will sign the CAB with Malaysian Third Party Facilitator Tengku Dato’ Ab Ghafar Tengku Mohamed signing as witness.

President Benigno S. Aquino III, Presidential Adviser on the Peace Process Teresita Quintos Deles, and MILF chief Al Haj Murad Ebrahim are expected to deliver their respective messages before the attendees f rom t he inter nat iona l community and various sectors.

Meanwhile, simultaneous c e l e br at i ons are b e i ng org an i z e d by d i f fe re nt organizations in various parts of Mindanao and Metro Manila to welcome the signing of the CAB. Drafting the law The CAB ser ves as basis for the drafting of the Bangsamoro Basic Law being done by the Bangsamoro Transition Commission. The draft law will be submitted to Congress and certified by the President as urgent. A plebiscite will then be held at the areas identified in the agreement after the law is passed.

Thes e are as are t he current provinces and cities in the ARMM, the cities of Isabela and Cotabato, six municipalities in Lanao del Norte, and 39 barangays in six municipalities of Cotabato province.

Other geographic areas that are contiguous to the

11

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enumerated places and that wish to join the plebiscite m ay d o s o t h r o u g h a resolution passed by the local government unit concerned or a petition of at least 10 percent of registered voters in the locality two months before the conduct of the plebiscite. The Bangsamoro Basic Law will provide for the modalities that would allow them to join the plebiscite.

Normalization At the same time, the GPH and MILF panels are working on the terms of reference for the different bodies that will be created as part of the normalization process.

These bodies include the Joint Normalization Committee that will oversee the programs for normalization, including the transitional security arrangements that will build on the current cooperation under the ceasefire agreement.

“We are also going to invite local and foreign experts who will sit in the Independent Decommissioning Body that will manage the inventory and verification of the MILF combatants and armory,” Coronel-Ferrer said.

“Moreover, we will form a Transitional Justice and Reconciliation Commission that would study and propose programs that would address historical grievances and heal the wounds of war.”

The two panels have continued with their consultations and dialogues in different parts of the country to update the people on these steps that are being taken.

Stock... from page 4

bids from govenrments and private sector traders not covered by any agreement will be accepted by the Philippines.

In the case of Thailand, the Thai parliament must legislate a news of the supply agreement with Manila, said Dennis Arpia, National Food Authority (NFA) chief of staff.

In the absence of rice deal with Manila, Thailand has no legal personality to bid for the supply contract covering 800,000 metric tons the Philippines needs to boost its buffer stock during the lean season – July to August.

Socio-political unrest now gripping Bangkok has kept the Thai parliament from processing trade-related measures, especially at this juncture when Thailand is on the verge of uloading its rice stock to the world market.

The NFA already made Thailand aware of the need to renew the procurement agreement with Manila, Arpia said.

The policy-setting NFA Council is now waiting for the harvest results from the tropical summer, and will come up with a final notice of procurement once the numbers are in, according to NFA. As things stand now, it is highly likely that Manila will go for an open bidding for the rights to supply the Philippines with the grain.

Slashes... from page 5

growth, the 2013 surplus fell short of the BSP’s target of $11.1 billion.

“As external demand bro a d l y i mprov e d , t h e country’s exports of goods continued to rebound in [ t h e f o u r t h q u a r t e r ] ,” Guerrero said.

“However, volatilities in the global environment ste m m i ng mai n ly f rom the US decision to reduce its bond-buying program in 2014, and the subdued e conomic s ent iment in the euro area continued to weigh down on financial markets affecting capital flows in emerging economies, including the Philippines,” she said.

Guerrero said the BSP is likely to revise downward its current account surplus target for this year after missing the full-year goal for 2013.

The BSP is set to review its balance of payments (B OP) target in May. It earlier forecast a surplus of $3 billion this year from $5.1 billion last year.

The BOP summarizes a c o u n t r y ’s e c o n o m i c transactions with the rest of the world, with a surplus ind ic at ing t hat fore ig n exchange receipts outpaced payments.

A key pillar of the P h i l i p p i n e s’ e c o n o m i c g row t h stor y, t he B OP surplus has been one of the reasons why international credit rating agencies delivered the country its f i r s t i nv e s t m e nt g r a d e rating last year.

Lower trade in goods deficit Guerrero said the 36 percent increase in last y e a r’s c u r re nt a c c o u nt stemmed from higher net receipts from secondar y income and services, and a lower trade in goods deficit.

Global activity strengthened and world trade picked up in the latter part of 2013 arising from firmer signs of recovery in advanced economies, particularly the US, Japan, and some core economies in the euro area.

The trade in goods deficit registered a moderate improvement of 2.1 percent as the contraction in imports outpaced that of exports. Exports of goods dropped by 3.6 percent to $44.7 billion in 2013 compared to $46.4 billion in 2012 due primarily to the contraction in shipments of manufactured goods from the previous year’s level.

Imports of goods fell by 3.1 percent to $63.3 billion in 2013, on account of lower purchases of raw materials and intermediate goods, and mineral fuels and lubricants.

The surplus in the services account improved by 10.4 percent to $6.8 billion in 2013, due mainly to higher net receipts from telecommunications, computer, and information

services, as well as personal, cultural, and recreational services.

For the capital account, the countr y ended 2013 with a 21.8 percent increase to $115 million due mainly to higher capital transfers to the national government.

The financial account however recorded net outflows of $635 million in 2013, a turnaround from the $6.7 billion net inflows in the previous year.

“Volatile capital flow reflected sensitivity of f inancial markets to external developments,” Guerrero said.

Net outf lows were posted in the other

investment account, which were mitigated partly by inf lows of p or tfolio and direct investments.

Volatile capital flows during 2013 reflected sensitivity of f inancial markets to external developments.

In particular, net inflows of portfolio investments declined as risk appetite for emerging market assets was weighed down by the tepid recovery in the euro area as well as changing expectations on the US monetary policy.

For 2014, the BSP has set a financial account target of $3.6 billion in net outflows and a capital account goal of $135 million.

ASIA WORLD PAWNSHOP

Main: Osmeña-Cogon Market, Cagayan de Oro Branch: Ipil,Carmen , Cagayan de Oro NOTICE OF AUCTION SALE Starting March 7 , 2014 at 9:00 A.M. to 5P.M., this establishment will set an Auction Sale on all pledges since October 2013 . Patrons are enjoined to verify their receipts.

MANAGEMENT PAHIBALO

Sa Marso 7, 2013 sa may 9:00 sa buntag paingon da alas 5:00 sa hapon, ang Tanan nga penirenda nga wala malukat sa bulan sa Oktobre 2013 maapil sa subasta.

Giawhag ang tanan suki sa pagsusi sa ilang resibo.

ANG TAGDUMALA

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Your Mindanao Business Paper is adjudged as Finalist by the Philippines Press Institute for the Annual Awards this year 2014.

Thanks for the continued patronage.

We coudn’t have reached this far without you.

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