BusinessWeek Mindanao (March 31, 2014)

BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Volume IV, No. 83

Market Indicators As of 6:12 pm mar. 28, 2014 (Friday)

FOREX

PHISIX

US$1 = P44.88

6,359.62 points

16 cents

X X Briefly 43.93 points

Agri projects COTABATO City – Five towns in Lanao del Sur received P16,752,000 funds for various agricultural projects that will enhance local productivity, the Department of Agriculture and Fisheries of the Autonomous Region in Muslim Mindanao (DAF - A RMM ) a n n o u n c e d Friday.

Lawyer Makmod Mending Jr., DAF-ARMM secretary, said he and Regional Executive Secretary Laisa Alamia handed the subsidies in checks to the mayors of Taguluan, Bumbaran, Lumbayanague, Bayang and Lumbatan towns at a symbolic ceremony here last March 25.

The funds were allotted for the P1.6-million worth Tagoloan livelihood and income generating project, P1.7 million livelihood and capability-building ventures in Bumbaran, P6 million farm-to-market road (FMR) in Lumbayanague, P2.85 million FMR and livelihood projects in Bayang, and P4.1M FMR project in Lumbatan, Mending said.

Tech transfer DAVAO City – The Department of Agriculture in region 11 has concluded an eight-day stayin training that featured soil erosion protection management given to the members of the indigenous people in Paquibato District here and the nearby areas in Arakan, North Cotabato province.

About 34 IP farmers from the area benefited from the technology transfer activity that was also aimed at ensuring food sustainability among the IP communities.

The educational process imparted knowledge on soil erosion management by piling of rock walls as barricades to protect planted rice from landslides especially in sloping farms of IP farmers in the area, the information office of DA 11 said in a statement.

The IP farmers were also trained on tapping water sources from flat areas up to elevated rice farms, a similar technology being applied at the rice terraces in Ifugao province.

www.businessweekmindanao.com

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?

P15.00

Monday|March 31, 2014

10 power plants set for shutdown this summer S

By JOANN SANTIAGO Philippine News Agency

IX power plants around the country will be on scheduled shutdown during the summer months while four others will be on forced outage thus aggravating supply problem particularly in Mindanao.

Data released by the National Grid Corporation of the Philippines (NGCP) Friday showed that deficit in Mindanao in April is projected as the highest with a demand of 1,362 megawatt (MW) which is higher than the available capacity of 1,264MW. “The supply will be tight but NGCP will be ready to transmit whatever power is available to the grid,” NGCP spokesperson lawyer Cynthia D. Perez-Alabanza said.

Relatively, power supply in the Luzon grid is projected to have a surplus of 1,067MW

in April and 1,035MW in May. The Visayas grid’s supply in April is projected to have about 137MW surplus and 125MW for May 2014.

Asked for the names of the power plants, Alabanza declined to mention them.

Similarly, the NGCP official said the high voltage direct current (HVDC) line connecting the Luzon and the Visayas grids will also be on maintenance shutdown from April 9-12.

She, however, stressed that despite the maintenance shutdown/PAGE 11

EUPHORIA. Moro people in Manila rejoice at the signing of the Comprehensive Agreement on the Bangsamoro between the Philippine government and the Moro Islamic Liberation Front. Some elders have shown mixed emotions on what they perceived to be the end of decades of conflict. photos courtesy of jes aznar

P-Noy: We must close the gap between Mindanao and the rest of Filipino society

MILF chair Al Haj Murad handing Pres. Benigno Aquino III with a peace gong during the signing of the framework peace agreement.

PRESIDENT B enigno Aquino III has reiterated his appeal to Filipinos to help the Bangsamoro people overcome the challenges of peace and development, stressing the need to close the gap between Muslim Mindanao and the rest of the Philippines.

“For generations, fellow Filipinos in the region were embroiled in a cycle of poverty, injustice, and violence. The huge imbalance between Muslim

Mindanao and the rest of the country served to breed resentment, and consequently insurgency,” he said during the historic signing of the Comprehensive Agreement on the Bangsamoro (CAB) between the Government of the Philippines (GPH) and the Moro Islamic Liberation Front (MILF) held in Malacañang.

“When the Bangsamoro people felt that they had no close/PAGE 11

WB, foreign donors back Bangsamoro development plan THE newly-signed Comprehensive Agreement on the Bangsamoro (CAB) is expected to draw more foreign investments with the World Bank and other international funding agencies throwing support to the peace deal that is aimed to bring about development for Mindanao.

In a st ate me nt , t he multilateral institution said the government along with its development partners, including the World Bank, has to scale up their effort in supporting programs that will broker sustainable peace and development in the whole Mindanao.

A broad range of d e v e l opm e nt p ar t n e r s , including the Japan International Cooperation Agency, Asia Foundation, International Organization donors/PAGE 11

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

BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Economy

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

2 BCWD marks 40 years of service Farmers, fisherfolks to get Monday|march 31, 2014

By JENNIFER P. GAITANO Contributor

BUTUAN City – On its 40th anniversary celebration, the Butuan City Water District ( B C W D ) h a s l i n e d - up several activities for its concessionaires from March

22 to April 5, 2014.

To j u m p s t a r t t h e celebration, a motorcade w i l l b e c o n du c t e d o n Tuesday, April 1, 8:00 a.m. and assembly area will be at

the Libertad Sports Complex, this city.

Als o, a blo o dletting activity will be conducted on the same day at the BCWD Training Hall, in coordination with the Philippine National Red Cross (PRC). It will start from 9:00 a.m. to 4:00 p.m.

“Those concessionaires who are interested to donate their blood for a cause can go to the training hall and we will be glad to accommodate them. The first 40 donors will receive t-shirts,” said Anselmo Sang Tian, BCWD General Manager.

Sang Tian added that aside from the bloodletting, BCWD will also be rewarding its bcwd/PAGE 10

full subsidies for SSS contributions from DA IN its continuing campaign to extend social protection to informal sector workers, the Social Security System (SSS) has formalized a key partnership with the Department of Agriculture (DA) for the latter to fully subsidize farmers’ monthly SSS contributions as selfemployed members.

The agreement is exp ected to b enef it up to 200,000 agricultural workers nationwide who may qualify for the subsidy

as members of Rural Based Organizations (RBOs) or C om mu n it y E x t e n s i on Workers (CEWs) in good standing, with 100 farmers already selected as the first batch of beneficiaries.

Despite their invaluable role in our nation’s food s ecurity, farmers often st r ug g le w it h s e as ona l incomes and their livelihood’s vulnerability against typhoons, floods and other whims of nature.

SSS President and Chief

Executive Officer Emilio de Quiros, Jr. and Agricultural Secretary Proseso Alcala signed the agreement during ceremonies at the DA Main Office in Diliman, Quezon City on March 14, with SSS Senior Vice President Judy Frances See and DAA g r i c u l t u r a l Tr a i n i n g Institute (ATI) Director Asterio Saliot in attendance as witnesses.

Apar t f rom farmers, fisherfolk will also be added subsidies/PAGE 10

Oro scholars get a more monthly stipend SOME 2,000 scholars of the Cagayan de Oro city government here will receive an addit iona l mont h ly stipend ever y semester starting the school year 20142015, City Vice Mayor Caesar Ian Acenas said on Friday.

Acenas said that aside from increasing the allowances, the city government has also lowered the general weighted average of every scholar by 5 percent.

He said that the City C o u n c i l h a s ap prov e d Ordinance No. 12757-2014 that amended Section 3 and Section 7 of Ordinance No.

5368-96, also known as the City Scholarship Program to increase the monthly stipends of the city’s scholars here.

Under the amendatory ordinance, scholars from Lumbia, Dansolihon, M a m b u a y a , Ta g p a n g i , Ti g n ap o l o a n , B e s i g a n , Pagalungan, B ayanga, F.S. Catanico, Indahag, Pagatpat, Pigsag-an, San Simon, Tuburan, Tumpagon, Baikingon, Balubal, Bug0, Puerto, Tablon, Agusan and Taglimao will receive a monthly stipend of P1,500.

Scholars from Barangays

1 to 40, Lapasan, Gusa, Cugman, Nazareth, Macasandig, Puntod, C amaman-an, C ar men, Iponan, Bulua, Balulang, Canitoan, Bayabas, Bonbon, Kauswagan, Consolacion, Macabalan and Canitoan will get P1,000 per month.

The assistance extended by the program also includes registration fee and tuition.

The cost of books and other materials are shouldered by the barangay where the recipient resides, Acenas said.

He said that the ordinance also revised the scholar’s

general weighted average of 80 percent in all subjects or 5 percent lower than the 85 percent general average which has been adopted in the past years.

According to Acenas, Councilor Adrian L. Barba, chair of the committee on education, authored the amendment of the city’s scholarship program ord i nance t hat st ar te d sometime in 1996 to provide an opportunity to indigent but qualified students to pursue higher education in private and public schools here. (PNA)

0917-7154399 088-856-8562/63

www.dahilayanforestpark.com

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

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

BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

3

www.businessweekmindanao.com

Monday|march 31, 2014

BusinessWeek MINDANAO

4

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Monday|march 31, 2014

CorporateWorld

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 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

VISIT OUR WEB PORTAL

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

148 Residences, a good option in Cebu for transient college students CEBU City -- As parents choose the best university in this city for their children to take their preferred course in college, they also search for the best option at where their kids should live in.

“A better option can be one that would mean a wise investment for the family,” according to Michele D. Chiu, sales and marketing manager of Johndorf Ventures Corp. ( JVC), w ho of fers 148 Residences as the best option.

Johndorf is selling the remaining units at its 148room condominium project on Pelaez St. here, beside the landmark Hotel de Mercedes in downtown Cebu City near the corner of Colon St., with significant discounts on equity.

Chiu noted that quite a number of the buyers of units at 148 Residences are families from beyond Metro Cebu and provinces in Mindanao and the rest of the Visayas who send their children to Cebu City for their tertiary education.

148/PAGE 10

STUDENTS’ HOME. Families off Cebu have 148 Residences at downtown Cebu City as an option for their college students to live in ... independently, like cooking their own food in this kitchen. The place is safe, accessible to shops and stores, and near to all universities.

SM sets P80B capex, lays plan for Vis-Min expansion THE SM Group is setting aside P80 billion this year for its capital expenditures, and is looking to an upstart strip mall developer accelerate its food retail expansion in the underserved markets of Visayas and Mindanao.

During a summit

organized by COL Financial Group Inc, SM Investments Corp senior vice president for investor relations Corazon Guidote said the conglomerate is pouring P80 billion to expand its property, retail and banking businesses. sm/PAGE 10

Tigerair hiking fares to recover jet fuel costs Tigerair Philippines is set to raise its international fares to offset the rising cost of jet fuel.

In a petition before the Civil Aeronautics Board uploaded on the regulator’s website on March 27, Tigerair said it is seeking approval for

the upward adjustment of fuel surcharge on its international passenger tickets.

Tigerair will increase fuel surcharges on the following international destinations: Clark-Hong Kong, from $10 to $25; - Clark-Singapore, tigerair/PAGE 10

BPO Day in The SM Store

The SM Store partners with Cagayan de Oro ICT Business Council as an Organization of The Month for April.

All BPO Employees from Concentrix, Arriba Telecontact, Synctactics, Red Lemon, Cleversoft, Juan Pay, Innovuze Solutions Inc., and FBC Business Solutions are entitled to an exclusive discount from April 1-6.

Simply present a company ID with the 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. Non SMAC member can still get 5% discount.

Inviting all call center agents/employees to grab this exclusive discount for a limited time only. For inquiries, please call The SM Store Marketing through 8591188.

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

Moody’s affirms BDO’s ratings MOODY’S Investors Service has maintained its deposit rating as well as positive outlook on BDO Unibank Inc, which the rating firm said would benefit from the Philippines’ credit growth.

In a statement, Moody’s said it has affirmed BDO’s “Baa3/Prime-3” deposit rating, with a positive outlook.

The Henry Sy-owned lender’s bank financial strength rating (BFSR) also stays at “D+,” with a stable outlook. “ The af f ir mat ion of BDO’s deposit rating with a positive outlook reflects our expectation of continued strength in the operating environment for the Philippine banking system, owing to robust growth of the Philippine economy and stabilizing external conditions, which is positively supporting the government’s own credit profile,” the debt watcher said.

At the same time, Moody’s has revised BDO’s baseline credit assessment (BCA) to “Baa3” from “Ba1” to reflect improvements in the standalone credit profile of the Philippines’ biggest lender, justifying investment grade on a standalone basis.

“The revision of BDO’s BCA to ‘Baa3’ from ‘Ba1’ c o n s i d e r s t h e b a n k ’s consistent ly improv ing asset quality, as well as robust liquidity and capital profiles, which have become comparable to those of its closest peers in the Philippines and other Baa3 banks in the region,” Moody’s said.

It said BDO’s dominance in the domestic corporate and middle markets segments would benefit the bank, which enjoys healthy credit growth, core profitability, as well as stable asset quality.

Moody’s said the credit profile of BDO is relatively ratings/PAGE 11

Banking&Finance

Revenue collection in Feb. falls below target TAX collections fell short of the February target and slowed from the previous month’s double-digit increase.

In a statement, the Bureau of Internal Revenue (BIR), which accounts for at least 70 percent of government income, said it raised P78.38 billion in taxes in February.

This is 10 percent lower than last month’s collection goal of P87.32 billion.

A l s o, t h e F e b r u a r y collection is 5.18 percent more than the amount raised in the same month last year, or half the growth seen last January when collections climbed 10 percent.

Tax collection shortfalls give rise to budget deficits, which the government makes up through borrowing, which in turn inflates the country’s debt. Only yesterday, the government reported a near doubling of the fiscal gap in January after revenue agencies failed to hit their

targets.

The BIR Large Taxpayer Service, which collects taxes from the country’s biggest companies, generated P46.26 billion last month, only 2.14 percent more than the amount raised in the same month of last year.

The bureau said sectors of the economy enjoying high growth rates also benefit from fiscal incentives such as income tax holidays and preferential rates.

“As a result the growth

in these sectors do[es] not translate to increase in tax collection. This also points to the need to rationalize fiscal incentives, and to review laws that grant fiscal incentives. In addition, the Bureau will intensify audit of large taxpayers,” the BIR said.

The BIR has been pursuing a shame-and-sue campaign meant to ferret out tax evaders. It has filed more than 200 tax evasion cases.

PDIC to pay depositors of closed Zambo rural bank

THE Philippine Deposit Insurance C or p orat ion (PDIC) will start servicing the deposit insurance claims of depositors of the closed Rural Bank of Pres. M.A. Roxas (Zamboanga del Norte), Inc. on April 2 to 4.

Servicing of claims for the bank’s Head Office will be conducted at the bank’s premises located along National Road, Poblacion, Langatian, Pres. M.A. Roxas.

Meanwhile, servicing of claims for the bank’s Dipolog Branch will be conducted at F.B. Lacaya St., Dipolog City, Zamboanga del Norte.

BusinessWeek MINDANAO

Depositors with validated deposit balances of P50,000 and below, with complete mailing address found in the bank records or updated through the Mailing Address Update Form, and without any outstanding obligation with the bank do not need to file a claim.

Depositors whose accounts have balances of more than P50,000 and those who have outstanding obligations with the closed Rural Bank of Pres. M.A. Roxas regardless of type of account and amount are required to file their deposit

insurance claims.

The announcement on the claims settlement operations of Rural Bank of Pres. M.A. Roxas is posted at the bank’s premises and on the PDIC website, www.pdic.gov.ph.

When f iling dep osit insurance claims, depositors are advised to personally present their duly accomplished Claim Form, original copy of Savings Passbook, and original copy of two (2) valid photo-bearing IDs with signature of the depositor. Depositors may also file their claims through pdic/PAGE 10

YOUR LOCAL ONLINE BUSINESS PAPER

Monday|march 31, 2014

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 – 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

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 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999

LAMBO MISAMIS ORIENTAL. Governor Bambi graces the general assembly of Federated Parents’ Teachers Association of the Gingoog Comprehensive High School earlier today.

5

www.businessweekmindanao.com

METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054 METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415

SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632 STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168 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

BusinessWeek MINDANAO

6

Opinion

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Monday|march 31, 2014

BusinessWeek MINDANAO

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

Did We Overpay On Our Interest Payments?

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

DANTE M. SUDARIA Publisher ROSE MARY D. SUDARIA, Ph.D. General Manager

NELSON CONSTANTINO Editor-in-Chief

ALLAN mario MEDIANTE Executive Editor

Alejandrae Uy

cHENG oRDOñEZ

Lifestyle Editor

Associate Editor

SHIELA gosanes

CLIFFORD SANTILLAN

ATTY. MARIO T. JUNI

Cris diaz mike baños Uriel quilinguing Editorial Consultants

Layout Artist

Advertising

Cell No: 09352379999

Juni Law Office Cruz Taal St., Cag. De Oro City Legal Counsel

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Advertising and Promotions every Friday to Sunday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Department of Trade and Industry (DTI), Region 10 with Certificate No. 00875701, and with Business Permit No. 2013-10946, TIN No. 946-396-807 – Non VAT. Tel. Nos.: (088)8578447, 74-5380, 0923432-0687, 0917-7121424

Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com Member: Philippine Press Institute

T

How to Change Others

hink a minute…Someone said: “You can always get what you want, if you help other people get what they want.” Frank Bettger started selling life insurance as a young man. By the time he was 29 he was a miserable failure and in terrible debt.

He says he finally realized what he needed to do was to help other people know what they want, and then help them decide how to get it. Frank Bettger went on to be so successful that he was able to retire at age 41!

A great leader puts it this way: “If you want another person to see something your way, you must go over to his side and see it his way first; then guide him back over to your side. Don’t stand across the room and shout at him or call him stupid! Don’t command or order him to come over to your side. You must start where he is and work from there. That’s the only way to get him to truly change his mind.”

So when our kids are feeling down and discouraged, it doesn’t work or help when we yell or tell them just to be smarter or tougher and do better. In fact, many times by doing that we only hurt our kids more and make them do worse. We just make them angrier and want to rebel against us. So if we want to change our wife or husband, our children, or someone

THINK

R

ecently, we read a rosy report about the country’s external debt. As of 2013, total external debt, both public sector and private sector obligations, totaled 58.5 billion dollars. For those obligations, we paid last year 6.86 billion dollars in principal and interest.

While in absolute amounts, the total foreign debts have gone up over the years, the debt ratio has gone down considerably vis a vis our gross national product. Also, compared to our international reserves of around 83 billion dollars, our public sector debt of 40.5 billion dollars is at a very comfortable level.

In sum, from the point of view of liability management, every thing looked just fine.

My enthusiasm, however, was somewhat dampened by lingering questions especially after reading the latest news on the LIBOR fixing scandal which rocked the financial world in 2012.

Is it possible that over the years, we have been over-paying on our interest payments?

If we go by the claims of the Federal Deposit Insurance Corporation (FDIC) and various US cities, states and local agencies, the answer is definitely YES! Just this month, the Federal Deposit Insurance Corporation (FDIC) sued 16 of the biggest names in banking. Among the banks named as defendants were

A Minute

have been heavily fined in varying amounts include UBS, RBS, Deutsche Bank, JP Morgan, and Citigroup.

An investment bank estimates that the banks being investigated for LIBOR manipulation could end up paying an approximate 35 billion dollars, separately from any payment to regulators.

The same investment bank concedes, however, that “(r) elative to the size of the 16 banks ….. 35 billion dollars is chump change.”

Meanwhile, a top US law firm has stepped into the largest class action lawsuit f i l e d ag ai nst B arcl ay s .

Barclays’ name was the first to crop up in the scandal in 2012 – causing its Chief Executive Officer to resign and to forfeit a substantial portion of his benefits.

Barclays is now being sued

by Guardian Care Homes over claims Barclays mis-sold Guardian Care interest rate hedging products.

The London Interbank Offered Rate, or LIBOR, is one of the most important numbers in the financial world. And until 2012, LIBOR was something that borrowers just accepted without any question.

Essentially, LIBOR is one of the main rates used to determine the borrowing costs for trillions of dollars in loans. These loans include not only sovereign loans, corporate loans as well as consumer loans such as

SPEAKING

O ut

By Ignacio Bunye

mortgages, student loans and credit card accounts. LIBOR has also been used to price derivatives.

Interest rates on aforesaid transactions rise or fall when LIBOR moves.

It was only in 2012 that an international investigation re ve a l e d a w i d e spre a d plot by multiple banks to leverage LIBOR for profit.

Investigators have uncovered that the rate rigging may have started as early as 2001 and continued all the way to 2009.

The FDIC and the other aggrieved parties surely face many hurdles in proving damages. For one, it may be difficult to unbundle the rates used between 2001 and 2009. For another, the rate riggers maneuvered the rates upward or downward (not just one way) depending on the traders’ positions.

But one thing is sure.

The rate riggers made tons of money. And as in any financial transaction, for every winner, there is a loser.

Is Gov’t Still Capable Of Coping Up?

By Jhan Tiafau Hurst

L with whom we work, we’ve got to let them know we understand what they want.

Then we must care enough to try and help them get it.

It’s only then that they will want to change and do what you want also.

This is why Jesus Christ teaches that we must love others as much as ourselves, that is, care about their needs and desires just like our own.

It’s only then that we end up finding our own needs for happiness and success being satisfied. It’s simply a law of life that always works. You always end up happier and more blessed by giving and putting others first. But you also find that those other people end up wanting to start changing because of your powerful influence and help in their life. If today you realize that you’ve been putting yourself first before others, why not ask Jesus Christ to hurst/PAGE 11

Bank of America Corp, Barclays PLC, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings PLC, JP Morgan Chase and Co, The Royal Bank of Scotland and UBS AG. The lawsuit, filed in the federal district court in New York, alleged that the defendants’ conduct of conspiring to manipulate LIBOR caused substantial losses to 38 banks that the U.S regulator had taken into receivership since 2008.

The City of Baltimore as well as other US cities , states and municipal agencies also feel short-changed and have likewise filed suits against a dozen banks.

FDIC has not yet quantified the full extent of the 38 bank’s losses. On the other hand, according to early estimates, the rate manipulation scandal cost US states, counties and local governments at least 6 Billion dollars in fraudulent interest payments.

Coincidentally, this is the exact amount of fines that regulators in the United States, United Kingdom , and the European Union have already slapped on banks for participating in rigging interest rates. UBS topped the list when it paid a whooping 1.5 billion dollars, an amount which authorities said reflected the severity and extent of the LIBOR scandal. The others which

IFE’S INSPIRATION: “…The Spirit clearly says that in later times some will abandon the faith and follow deceiving spirits and things taught by demons…”

(1 Timothy 4:1, the Holy Bible).

-ooo IS GOV’ T STILL CAPABLE OF COPING UP? Can the government still cope up with violations of the law by unscrupulous individuals, Filipinos and foreigners alike? I mean, we could just take a look around us, and we will undoubtedly see that there are now many people ever ywhere who carry guns which are not licensed. Then, there are many buses, jeepneys, and taxi units which are running on the road but which are not even franchised, nor are even registered.

There are questionable food items coming in, from abroad, which have not been inspected by the Food and Drug Administration of the Department of Health. Then there is plenty of rice, pork, fowl, beef, vegetables, spices, and even cars, jewelries, appliances, and many other consumer goods, big and small, that did not pass

t hroug h t he Bure au of Customs or the Bureau of Internal Revenue.

Then this one tops them all: there are now many foreigners who have managed to slip into the country and who are now doing cheap labor and construction work in the provinces and even in Metro Manila, even if they are undocumented, or did not pass through the Bureau of Immigration, displacing in the process thousands of poor Filipino workers.

Really, what is happening to our country now?

-ooo IS ANYONE STILL IN CONTROL? Do we still have a government that keeps track and seeks a remedy for all of these problems?

Or, is our government still capable of coping up with these countless violations of the law, not only by bad Filipinos now it seems, but even by equally, if not more, evil-prone foreigners? Is there anyone who is still in control?

President Aquino and his drumbeaters will pardon me but the obvious answer is that, sadly, nobody is in control anymore. Otherwise, how come illegal firearms

are now proliferating with impunity ever ywhere, especially in Mindanao and especially when elections draw near? How come illegal public utility vehicles have become so bold as to ply our streets unhampered and unchecked, until a deadly accident happens and public outrage is sparked?

How come smuggling, even of illegal aliens now, continues unabated, unstopped, and incapable of being checked? How come corruption has become a total scourge, even among supposedly honorable lawmakers who no longer have qualms p o cketing billions in gover nment funds? How come no one in government seems to be interested anymore to do something to stop all of these? Indeed, what is happening to our country now?

-ooo A PEOPLE OF DEPRAVED MINDS: Have we become the kind of people that the Bible predicted would abound during the end times? Let us read 2 Timothy 3 to understand this question of mine: “But mark this: There will be terrible

K akampi

Mo A ng Batas

By Atty. Batas Mauricio

times in the last days. People will be lovers of themselves, lovers of money, boastful, proud, abusive, disobedient to their parents, ungrateful, unholy… “(People will b e) without love, unforgiving, slanderous, without selfcontrol, brutal, not lovers of the good, treacherous, rash, conceited, lovers of pleasure rather than lovers of God… They are the kind who worm their way into homes and gain control over gullible women, who are loaded down with sins and are swayed by all kinds of evil desires… They are men of depraved minds…”

Why have we become this kind of a doomed people, batas/PAGE 11

BusinessWeek MINDANAO

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

YOUR LOCAL ONLINE BUSINESS PAPER

Monday|march 31, 2014

Paintings of nat’l artist ‘Botong’ now in CDO A B OU T 2 0 re pl i c as of Nat i ona l Ar t ist C arl o s “ B o t o n g ” F r a n c i s c o’s paintings were now on exhibit at the Ayala Centrio Mall since Wednesday.

Paul de Guzman of the Ayala Foundation, said the exhibit was part of the Ayala Foundation Inc. 53rd Anniversary last March 23 that encompassed its four pillars in Education, Youth Leadership, Sustainable Livelihood and Arts and Culture.

He said that “the four pillars was in keeping with the AFI’s commitment to providing solutions to its communities”, particularly in Cagayan de Oro City.

Botong’s paintings that date back to 1937 depict the Filipino’s endemic culture and traditions that still exist until the modern times.

Most of the paintings were modeled in verdant

countryside where old folks engaged in bounty harvests, elaborate fiesta celebrations, and preparation of native delicacies.

One of the B otong’s paintings, circa 1938, was the “Girl with Guitar” that symbolized the Filipino w om e n’s e x c e l l e n c e i n singing at that time and until today where most Filipino women have attained international acclaim.

T h e o t h e r p a i nt i n g also portrays the famous “Harana,” a genuine Filipino culture that until today shows one of the traditions when a man courts a woman of his dream in the countryside.

The exhibit dubbed as “ The Nation Imagined” clearly described the undying traditions of the Filipinos in the past, today, and in the future. It will run until April 25, 2014. (PNA)

7

www.businessweekmindanao.com

Growing in Intimacy with God

T

hat’s right. We need to grow in intimacy with God. Let’s banish the fear that such aspiration is impossible, or that we are just engaging in some wishful thinking, pursuing an illusion that will never come true.

Let’s remember that God is our Creator who not only gives us existence but also keeps us in it. We cannot exist and we cannot keep on existing without him.

Ergo, he is very much in us.

As the Psalm says: “If I ascend into heaven, you are there. If I descend into hell, you are present. If I take my wings early in the morning, and dwell in the uttermost parts of the sea, even there also shall your hand lead me...” (139,8-9) To be sure, his presence in us is never passive nor simply formal. His presence is ever active and marked always by how he is, that is, with love, wisdom, mercy, justice, etc.

As St. Paul says: “It is God who of his good pleasure works in you both the will and t he p e r for m anc e.”

(Phil 2,14) And again in the Psalms, are told the following: “Lord, you have proved me and known me.

You know my sitting down and my rising up. You have understood my thoughts afar off. My path and my

line you have searched out.

And you have foreseen all my ways...” (139,1-4) We just have to learn how to discern and capture this reality, and to keep it going in us for always. And the secret is precisely thatto grow in intimacy in our relationship with him.

We have to strongly remind ourselves that this relationship is not a fantasy, is not just our invention without any basis in reality.

And the secret is to set our heart on the law of the Lord that hopefully will lead us to a vital encounter with God. We have to train our heart on no other object but solely on God. Thus, while pursuing worldly affairs, while keenly interested in such values as effectiveness and efficiency, practicality, profitability, popularity, etc., we have to make sure that such values directly contribute to growing in our intimacy with God. We have to make sure that God strikes us as a living person, and not just an idea, a memory, an abstract character whom we go to as a kind of psychological or emotional prop, or a spiritual ornament.

Otherwise, these values would just feed our pride and vanity or that mistaken belief that we are just on

Presents

our own, our true freedom understood as being by ourselves completely without being beholden to anyone, God included.

That is the prevalent problem we are seeing these days, even among those who pride themselves as believers. To them, God is not actually a person, a living being who is always with us and is everything to us.

We need to see God in everything and everyone.

Thus, we have to learn how to be recollected and to be a contemplative especially in the middle of the world as we go through our temporal affairs.

Let’s be sure that God is precisely also in the middle of the world, in our mundane affairs. He is waiting for us there and is expecting us to turn these things to him, since these things are the very test God provides us to see if we truly believe and love him or not.

When we notice that we are just having many stray and spontaneous thoughts that are often critical and uncharitable, and reacting to them in a purely human way without relating them to God, it can be a sign we are not living in the presence of God. When we notice that our interest in success and

HINTS

and

Traces

By Fr. Roy Cimagala

other values like the ones mentioned above do not motivate us to pray, to love God and others more, to be more concerned about justice and the common good, we are not growing in intimacy with God. We would just be feeding our egos, sometimes using God for that purpose.

When we have presence of God, we would feel the love of God that is full of mercy and wisdom. We would be convinced that we are truly his children and would learn how to behave according to that basic truth.

When we grow in intimacy with God, we would become more familiar with his will and ways, and would feel strongly moved to cooperate more full in his designs.

More than simply doing our own thing, we would be more conscious we are doing things with him.

BusinessWeek MINDANAO

8

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

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Monday|march 31, 2014

Former colleagues in the Lower House reunited as Zamboanga City Mayor Ma. Isabelle “Beng” Climaco-Salazar visits Cagayan de Oro City Mayor Oscar S. Moreno last March 27. With Mayor Beng is her husband Gen. Trifonio Salazar and members of El Circulo Zamboangueno de Cagayan de Oro.

Members of El Circulo Zamboangueno de Cagayan de Oro turn over the proceeds of the Nov. 21, 2013 advance screening of the movie ILO-ILO shown in SM City Cagayan de Oro to City Mayor Ma. Isabelle “Beng” Climaco-Salazar during the mayor’s awarding of the Fr. William Masterson SJ Award during the Convocation for Xavier UniversityAteneo de Cagayan’s 75th Commencement Exercises. Turning over the check to Mayor Beng is Producer Mike Banos as members of El Circulo Zamboangueno de Cagayan de Oro which sponsored the event witness.

MEDIA PARTNERS

DA to provide livelihood aid to Bangsamoro region THE Department of Agriculture will provide livelihood and infrastructure projects to the Bangsamoro region in support of the ongoing peace process in Mindanao.

Agriculture Secretary Proceso Alcala said he is set to present to President Benigno Aquino III the department’s livelihood and infrastructure projects such as farm-to-market roads and small-scale irrigation that will be implemented under the Sajahatra Bangsamoro Program.

The DA, in its statement, described Sajahatra Bangsamoro as President Aquino’s concrete, socioeconomic initiative aimed at uplifting the health, education, and livelihood conditions of MILF communities.

“May mga programa po kaming nakalaan para sa mga mangingisda at gayundin sa mga magsasaka. Sa pagsuko nila ng kanilang mga armas, kailangan po silang matulungan na isaayos ang kanilang kabuhayan. (We have a set of programs for the fishermen as well as farmers. We must provide them assistance in rebuilding their livelihood as they lay down their arms),” Secretary Alcala said.

The assistance which amounts to P 212.9 million will cover four regions: Zamboanga

Moro women shoot videos of the televised signing of the Comprehensive Agreement on the Bangsamoro with their mobile phones as they gather at the plaza in Pikit, North Cotabato on Thursday. to celebrate the historic event.

Mindanews photo by Keith Bacongco

Peninsula, Northern Mindanao, Davao and SOCCSKSARGEN and 10 provinces: Basilan, Sulu, Tawi-Tawi, Zamboanga Sibugay, Lanao del Norte, Lanao del Sur, South Cotabato, Maguindanao, Davao Oriental and North Cotabato.

Alcala is hopeful that the signing of the Comprehensive Agreement on the Bangsamoro (CAB) between the government and the Moro National Liberation Front (MNLF) would finally settle the decades-long armed conflict in Mindanao.

The secretary is encouraged by the strong commitment of support and cooperation from

beneficiaries themselves whom he was able to meet in several engagements leading to the signing of the CAB. “Dati ay pinakaka-abalahan nila ay pakikipaglaban, ngayon ang sabi ng mga nakapulong ko na dating mga MILF commanders]: “Kung gaano kami kasigla sa pakikipaglaban dati ay mas masigla kaming mag-araro ngayon sa aming mga bukirin, (Before, they were engaged in fighting but now the former MILF commanders that I have met are now saying that they are more happy in plowing their farms as they have been in combat),” according to Alcala.

(PNA)

BusinessWeek MINDANAO

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

YOUR LOCAL ONLINE BUSINESS PAPER

Monday|march 31, 2014

ITPI Corp. kickstarts the NREA CDO trade exhibit with talk on eco-friendly architecture and design Cagayan De Oro City, Misamis Oriental (March 28, 2014) − ItalPinas Euroasian Design and Eco-Development (ITPI Corp.), the developer of Primavera Residences in Cagayan De Oro City, stressed the need for property developers to lower their carbon footprint when developing properties during the recently concluded 2nd NREA Cagayan De Oro Chapter Biz-Con & Trade Exhibits held at the Activity Center of the Centrio mall.

The National Real Estate Association (NREA) is a national trade organization comprising property de velop ers, gover nment agencies and advocates of urban and housing developments aimed at promoting strategic partnerships and collaborations.

As one of t he guest speakers at the event, ITPI chief executive officer and CEO, Romolo V. Nati gave a short talk on sustainable solutions for developing and designing properties. According to him, the architecture and design of a building can be drawn

from nature itself. He cited two ITPI projects, Primavera Residences in Cagayan de Oro and another one in Santo Tomas, Batangas that adapt to the environment, particularly on how the buildings were designed to minimize the amount of direct sunlight entering the units. Protecting the units from the intense heat of the sun, he said, reduces power consumption, thus, eliminating the need for an air-conditioner.

Primavera Residences, the company’s first project, is also designed in a way that reduces the impact on the environment.

Its eco-friendly features include the use of photovoltaic solar panels to produce renewable energy.

“We w ant to d el ive r beautiful but affordable units that are not expensive to maintain because the problem in the Philippines, as you know, is the cost of power,” shared Nati. “So what we are doing is reducing the energy consumption in our units so that the maintenance costs will be lower than what other

9

www.businessweekmindanao.com

property owners are currently paying.”

The Cagayan de Oro chapter biz-con and trade exhibit at Centrio was a threeday event with speakers from various government regulators including the Land Registration Authority, Pag-IBIG Fund, and the Housing & Land Use Regulatory Board. Cagayan de Oro city Mayor Oscar S. Moreno opened the first day of the biz-con through a ribbon cutting ceremony.

In his message during the first day of the trade exhibit, Mayor Moreno echoed the organization’s objective of uniting industry leaders to a common goal of promoting stewardship and collaboration.

“We aim to professionalize the real estate industry,” he added.

Various property developers also participated as exhibitors in the event. ITPI was also an exhibitor at the biz-con.

Potential unit buyers can call Primavera Residences for inquiries at (088) 310-8173, 0917-7921078 or they can visit the Primavera website at: www. primaveraresidences.com.

US$1,000 donation for typhoon Yolanda Victims handed to DGE Manny Along.

Donation came from Rotary Club of North Dallas, Texas thru the efforts of IPP Bob Bare and coursed thru Wordspring Foundation, Inc. In photo handing the cheque to DGE Manny Along is RCCDO Treas. Julius Dulfo with RCCDO Pres. Ferdie Bernasor at Seda Hotel, March 26, 2014

In photo L to R: Rtn. Andy Llagas, Rtn. Roy Raagas-City Administrator, Boyet Fernandezproject foreman, Dir. Pau Elio, Carlos Apag-project supervisor, Pres. Ferdie Bernasor and Treas. Julius Dulfo

In photo L to R: Boyet Fernandez, Carlos Apag, Dir. Pau Elio, Treas. Julius Dulfo, Rtn. Roy Raagas-City Administrator, Rtn. Andy Llagas and Pres. Ferdie Bernasor MISAMIS ORIENTAL – VICE GOVERNOR JOEY G. PELAEZ made another round of books distribution, this time at Magkarila Elementary School, Talisayan, Misamis Oriental. The books were donated by Children International Philippines, Inc. In his message, Vice Governor Pelaez emphasized that students should learn how to read, write and speak in English because such skill is our international advantage.

He reminded the teachers that the books should not remain merely as decorations but should be used, borrowed and read by students. Vice Governor Pelaez is the Chairman of the Committee on Education in the Sangguniang Panlalawigan.

www.businessweekmindanao.com official web portal

BusinessWeek MINDANAO

10

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

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Monday|march 31, 2014

Subsidies... from page 2

to the list of beneficiaries for t he subsidize d SSS contributions. At present, over 450,000 farmers and fisherfolk are covered by SSS as self-employed members.

The DA-ATI, with RBOs and CEWs as its partners, implements extension and training activities to promote state-initiated food sufficiency programs and other priority thrusts of the DA. The subsidy for SSS contributions forms part of DA-ATI’s compensation

for the qualified members of RBOs and designated CEWs. Included in the list of RB Os are Rural Improvement Clubs (RIC); the youth-based 4H Clubs; Pambansang Mananalon, Mag-uuma, Magbabaul, Magsasaka (P4MP); Magsasaka Siyentista (MS); and Indigenous People (IP).

The subsidies will be based on P3,000 monthly s a l ar y cre dit, w hich is equivalent to a contribution of P330 per month. DA-ATI Regional Offices will remit the contributions to SSS quarterly via bank deposits

as well as submit a regular payment list showing the beneficiaries of the monthly subsidies.

The chosen beneficiaries have the option to increase their monthly contribution, on top of the subsidized amount, to become entitled to higher SSS benefits and loans in the future.

Many farmers and fisherfolk lack social security coverage and face difficulties in remitting regular contributions. This is something that SSS aims to address through initiatives such as its new partnership with DA.

BCWD... from page 2

40th anniversary t-shirt for the first 40 concessionaires who will pay their water bill on April 1.

Also, last activity scheduled for the anniversary as a way of sharing its blessings to the community is the distribution of grocery items to paying concessionaires on April 2 and 4, 2014 or until supplies last.

This year’s celebration is anchored on the theme “ B C W D : 4 0 Ye a r s o f Addressing the Challenges in Providing Potable and Safe Water.” (JPG/PIA-Caraga)

148...

from page 4

Pryce Plaza Hotel Carmen Hill, CDO, Tel. No.722791 to93/858-4537 E-mail:reservations@pryceplaza.ph

---------------------------------

CHANANTHON BED & BREAKFAST CM Recto Avenue, Cagayan de Oro City Tel. #: 856-81-89 / 309-3095 / 231-2103 Email ad : chananthonbb@yahoo.com Room @ P800.00

COMMERCIAL SPACE FOR RENT

CONTACT PERSON: RAYLYN LANTACA

---------------------------------

NEW DAWN PENSIONNE Velez-Macahambus Sts, CDO Tel Nos. 8571776, 721776 email : gchreservation@yahoo.com

She recalled that half of the 30 residents who moved in first to the 10-storey building last year were college students. They turned over the first units just in time for the opening of school year 2013-2014.

Among them was t h e S an ch e z f am i ly of Cabadbaran, Agusan del Norte who did not want to bother their relatives in Cebu and whose parents wanted nothing but comfort and security for their two children.

Yet Ms. Anne Marie Sanchez later realized that acquiring a unit at 148 Residences for her son Emilio Anton, 22, and daughter Sofia Lorraine, 16, made them cut a lot on daily cost as school, groceries and stores that meet their needs are just at a walking distance. “ It i s a l s o a g o o d investment for us,” she added.

“With an affordable monthly amortization we pay to the bank, It’s like rent to own.

We can have the unit rented out if neither of the kids would continue to use it after completing college.”

Promo Schools close to 148 Residences include University of San Carlos, where the Sanchez kids study, University of the Visayas, University of Cebu, University of San Jose Recoletos, Cebu Normal University, Cebu Eastern College, Colegio del Santo Nino and Cebu Velez College, The place can still be an option for students who would study at Cebu Institute of Medicine, Cebu Doctors University, St. Theresa’s

College, Colegio dela Inmaculada Concepcion, Southwestern University, C e b u Te c h n o l o g i c a l University and Asian College of Technology.

Today, 148 Residences is also home for entrepreneurs, professionals, local and foreign expatriates, resident foreigners, long-term tourists and students from abroad and elsewhere in the country who have opted to settle or maintain a home in Cebu.

Of the 148 units that are ready for occupancy, only 33 remains for sale as of the last week of February 2014, disclosed Chiu.

For these, the company is offering an attractive discount for transactions made from March to May at 10 percent from one’s monthly equity for the first six months for an equity term of 24 months.

Launched in May 2012, it took JVC only six months to top off the first ever condominium in downtown Cebu. Other than the living spaces, it also has commercial units like a Mini-Stop outlet at the ground floor that is open for a coffee shop, convenience store, and business offices.

The property is good for investors who may want to lease out their studios with the big demand now on rental for residential use, an option still consistent with the company slogan: “A home for everyone.”

JVC pr ides its elf in building communities that provide convenience, quality, comfort, safety and affordability for every Filipino.

As school year 2014-2015 comes, one may either contact an accredited broker, browse the Johndorf website and Facebook page, call 266-6190, or visit the Johndorf office at the 14th floor of Ayala Life - FGU Center at the Cebu Business Park across Ayala Center Cebu.

SM...

from page 4

Guidote told reporters that the property group will account for P70 billion of the parent’s capex budget, the retail group will receive P5-6 billion and the balance will go to the banking business.

The conglomerate’s 2014 capex program is higher than the previously announced record P65 billion spending for 2013.

SM is raising up to P15 billion in the second quarter with the issuance of fixed-rate peso retail bonds, including an oversubscription for another P5 billion in case of strong demand. The proceeds from the bond issuance will be used to refinance maturing debt and for various expansion projects.

SM investor relations officer Timothy Daniels said its food retail formats comprising of supermarkets, hypermarkets, Savemore and WalterMart have the option to put up branches in the CityMalls following the conglomerate’s acquisition last month of a 34 percent stake in CityMall Commercial

Center Inc (CMCCI).

CMCCI will develop a hundred CityMalls to become the country’s largest network of branded community malls by 2020. They will be located mostly in the Visayas and Mindanao, which account for a fifth of SM’s food retail store count.

“The reason why we’re very attracted to CityMalls is because we know our limitations. We’re very Luzoncentric at this point,” Guidote said.

C i t y M a l l s’ p l a n n e d expansion in the Visayas and Mindanao presents an opportunity for SM to introduce its neighborhood store format Savemore in t ho s e u nd e r p e ne t r ate d markets.

Guidote said SM president Harley Sy initiated talks for an investment in CityMalls and in acquiring a stake in CMCCI, “investing in the talent” of Edgar “Injap” Sia II, the man behind Mang Inasal.

Soon-to-be-listed DoubleDragon Properties C or p, w h i ch ow ns t he remaining 66 percent and has management control of CMCC, is a 50-50 joint venture between Sia’s Injap Investments and Jollibee Foods Corp (JFC) founder To n y Ta n C a k t i o n g ’s Honeystar Holdings Corp.

JFC acquired 70 percent of Mang Inasal in 2010 for P3 billion, with Sia retaining the remaining 30 percent.

“With the backing of Jollibee and SM, you can see that mall can be populated with a Savemore store, all the [brands] of Jollibee, a bank branch from our stable and other retailers we have a relationship with. We can populate this mall so we know it’s going to be successful. Because it’s small and a standalone format, we can roll this out to many locations,” Daniels said.

The country’s dominant retailer, Henry Sy-owned SM Group is facing stiff competition from Lucio Co-led Puregold Price Club Inc and Gokongwei-owned Robinsons Retail Holdings Inc, which have embarked on their respective expansion programs.

Even with a network of 193 food retail stores at endDecember, SM sees more room for growth given that the Philippine retail market is at the “very early stage” of development, Daniels said.

“The organized retail sector is still being created.

Rural expansion is the big opp or tunit y and sma l l formats have high potential,” he said.

“If you were to go to Mexico, Thailand, Indonesia and other countries which you can compare to the Philippines in terms of demographics, income levels and consumer needs, you will find one player has 10,000 outlets. The Philippines is significantly behind other countries in food retail so we think there are tremendous opportunities for growth,” Daniels added. --InterAksyon

Tigerair... from page 4

from $20 to $35; - KaliboSingapore, from $26 to $40; - Cebu-Singapore, from $25 to $40; and - Manila-Phuket, from P1,100 to $45.

A fuel surcharge is a temporary relief granted to airlines to help them recover losses incurred from higher jet fuel prices. Fuel accounts for 50-60 percent of an airline’s operating cost per passenger, and is the secondhighest expense next to labor.

According to the International Air Transportation Association’s (IATA) Jet Fuel Price Monitor, prices averaged $123.4 per barrel as of March 7, up by 0.9 percent a month ago.

IATA expects jet fuel prices to average $124 .2 a barrel in 2014. Earlier, Cebu Air Inc (CEB) completed the 100 percent acquisition of Tigerair at a cost of $15 million.

Using a f leet of 49, Cebu Pacific operates over 2,200 flights per week to 24 international and 33 Philippine cities. With its fleet of five aircraft, Tigerair operates about 118 flights per week to 11 domestic and international destinations, from its bases in Manila and Clark.

PDIC... from page 5

mail and enclose the same set of document requirements.

Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar as an additional requirement.

The pro ce dures and requirements for the filing of deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph. The Claim Form and format of the Special Power of Attorney may also be downloaded from the PDIC website.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Rural Bank of Pres.

M.A. Roxas is on March 20, 2016. After this date, PDIC as Deposit Insurer, shall no longer accept any deposit insurance claim.

The PDIC said that all valid claims will be paid.

For deposits to be considered valid, it must be recorded in the bank’s records and must have evidence of inflow of funds, based on the results of PDIC examination. PDIC, as Receiver, has the authority to adjust the insurance rate on the unpaid interest offered by a bank if this is deemed unreasonable.

For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at pad@pdic. gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342).

BusinessWeek MINDANAO

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

YOUR LOCAL ONLINE BUSINESS PAPER

Monday|march 31, 2014

Shutdown... from page 1

works on the facility “the grid is secure and able to handle the load.” ”Back-up lines are fully operational and ready to deliver available power from the generators,” she said.

Meanwhile, the country’s grid operator is calling on the public to stay clear of the transmission facilities noting that it is during the summer months that accidents on the grid transpire. ” Tr ans m i s s i on l i n e related accidents usually occur during the summer season because this is when the public, especially the children on vacation fly kites.

Grass fires also usually occur during the summer. We are reminding the public to be careful to avoid accidents,” Alabanza said.

NGCP said it has conducted earlier in the year an audit of substation equipment and transmission lines around the country to check for defects and abnormalities to be able to correct it.

It added that its Reliability and Technical Assessment Department will continue to conduct the technical audit of facilities throughout the year to assist in the operation and maintenance of power transmission equipment.

(PNA)

Close... from page 1

redress within the system, they then tried to address their grievances from outside of the system. We must therefore give them a significant boost up, so that they can catch up: If we are to truly address the root causes of conflict, we must close the gap between the region and the rest of Filipino society,” Aquino added.

He also called on everyone to “widen the avenues for trust and positive engagement” and “cast aside past prejudices, and contribute to the atmosphere of optimism that has, for the first time in a long while, become prevalent in Muslim Mindanao.”

“It s h ou l d b e t h e paramount concern of all people of good will to do their part: Let us exchange our bullets for ripening fruit, our cynicism for hope, our histories of sorrow for a future of harmony, peace, and prosperity.”

In her speech, Presidential Adviser on the Peace Process Teresita Quintos Deles expressed the Bangsamoro p e o p l e’s h o p e s f o r a “permanent” peace – “the hope that their children will finally have the chance not only to survive, but to live and to thrive in an enduring community.”

“The signal is so strong and unrelenting---no more war, no more children scampering for safety, no more evacuees, no more lost schooldays or school-months, no more injustice, no more misgovernance, no more poverty, no more fear and

no more want…Tama na (enough), we are all tired of it,” she stated.

The CAB is the GPH and the MILF’s final peace agreement that seeks to end more than four decades of armed conflict that has plagued Mindanao. It serves as basis for the Bangsamoro Basic Law which is now being drafted by the Bangsamoro Transition C ommission and will need to be passed

by Congress and subjected to a plebiscite towards the establishment of the Bangsamoro – a new political entity that will be granted enhanced political and fiscal powers.

The Bangsamoro will replace the current Autonomous Region in Muslim Mindanao that has suffered from decades of poverty, corruption, and conflict.

Donors... from page 1

for Migration, and members of the United Nations country team including the United Nations Children’s Fund are also supporting the Bangsamoro Development Plan.

Likewise, the program is supported by the United Nations D e velopment Programme, World Food Programme, United Nations Educational Scientific and Cu ltur a l Org ani z at i on , Un i t e d N a t i o n s H i g h Commissioner for Refugees, and the International Labor Organization.

“The World Bank Group joins the global community in congratulating the government of the Republic of the Philippines and the Moro Islamic Liberation Front for their momentous signing of the CAB,” the bank said in a statement.

Even before the landmark signing of CAB, World Bank said the lender, along with development partners and other stakeholders, has been supporting peace and inclusive growth in Mindanao through various programs and projects.

These initiatives include social protection, communitydriven development, upgrading of community infrastructure, and lately the formulation of the BDP. Last month, the government and the World Bank kicked off the Bangsamoro Development Plan (BDP) that will provide a short and medium-term development strategy by identify investments and programs in the region from 2014 until 2020.

The planning process i s sp e ar h e a d e d by t h e Bangsamoro Development Agency (BDA).

Saffrullah M. Dipatuan, BDA chairman said the B a n g s a m o ro p l a n w i l l play a crucial role in the establishment and success of the region, adding that planning for rehabilitation, recovery and development is being conducted with peace-building among the key objectives.

11

www.businessweekmindanao.com

“ T h ro u g h e x t e n s i v e consultations, the BDP will set the strategic direction for the new Bangsamoro government by identifying potential areas for investment, private sector promotion, and cooperation with other regions in the country,” Dipatuan said. “ We therefore acknowledge with a sense of gratitude the timely assistance extended under the Mindanao Trust Fund and by other development partners, without which our aspiration to formulate the plan for the Bangsamoro will remain a dream,” he added.

The planning process for the BDP is funded by the $540,000 grant from the Mindanao Trust Fund (MTF) administered by the World Bank, which started in 2006 and under the $28-million multi-donor facility for conflict-affected areas of Mindanao.

Reflecting on the launch of the BDP planning process, Motoo Konishi, World Bank country director said that the crafting of the Bangsamoro Development Plan will help strengthen confidence in the on-going peace process.

“The plan will outline strategies to build legitimate institutions to help foster a sense of security among communities, get more children back to school, provide justice and create jobs. This is in line with global lessons on how to successfully address the roots of violent conflict,” Konishi said.

Government agencies supporting the BDA in the formulation of the BDP are the Office of Presidential Adviser on the Peace Process, National Economic and Development Authority as well as the Mindanao Development Authority.

The Depar tments of Health, Agriculture, Social Welfare and Development, Education, Public Works and Highways and Environment and Natural Resources and the Autonomous Region in Muslim Mindanao also support BDP. T h e B DA h a s b e e n operating for more than 10 years. Since its creation on June 2, 2002, it has mobi l i z e d B ang s amoro professionals and volunteers to assist in development and humanitarian work in conflict-affected areas of Mindanao.

Ratings... from page 5

predictable, adding that the local lender is well positioned to withstand a cyclical downturn among rated banks in the Philippines.

BDO closed 2013 with a 56 percent increase in its net income to P22.6 billion from the previous year’s P14.5 billion. Last year’s profit was also higher than the bank’s guidance of P20.4 billion.

Hurst... from page 6

forgive you today? Then ask Him to start changing your character every day, so you can start enjoying the success

that only comes from helping others succeed.

Just Think a Minute …

Batas...

from page 6 whose destiny is eternal fire and worms? The answer is simple: we no longer read the Bible, and no longer obey God. We have renounced go o d teaching, and are now swayed by evil desires.

Consequently, if we want to avoid hell, we must go back to God. Read His Bible once again, and obey Him once more!

-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.

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.

D o n’t l e t your ego get too close to your position, so that if your position gets shot down, your ego doesn’t go with it.

-- Colin Powell

ANG TAGDUMALA

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region BRANCH 21 Cagayan de Oro City IN RE: PETITION FOR ISSUANCE OF OWNER’S DUPLICATE COPY OF TRANSFER CERTIFICATE OF TITLE NO. T- 194814 OF THE OFFICE OF THE REGISTER OF DEEDS OF CAGAYAN DE ORO CITY

MC CASE NO. 2014-007

TOMIANONG L. HADJI-AZIS Petitioner. x--------------------------------------/ ORDER

Notice is hereby given that filed before this Court is a verified Petition for the issuance of new owner’s duplicate copy of Transfer Certificate of Title No. T- 194814, over a parcel of land registered in the name of Naomi Jaranilla Hart.

Finding the Petition sufficient in form and substance, it is hereby set for hearing on APRIL 2, 2014 at 8:30 in the morning.

The Petitioner is hereby ordered at its own expense to cause the publication of this Order for Initial Hearing in the newspaper of general circulation in the Province of Misamis Oriental and Cagayan de Oro City, and the posting of a copy of this Order in a conspicuous place at the Bulletin Board of the Barangay Hall of Barangay Nazareth, Cagayan de Oro City where the land is located, at the Bulletin Board of the City Hall of Cagayan de Oro, at the Bulletin Board of the Office of the Registry of Deeds, Cagayan de Oro City, with one copy at the Bulletin Board of this Court, at least fourteen (14) days before the date of the hearing of the petition.

The Register of Deeds or any person having or claiming any interest in the subject property may appear at the hearing and oppose the Petition.

Furnish copy of this Order and Petition to the City Register of Deeds of Cagayan de Oro and to Carmen Teresa Magracia, Naomi Jaranilla Hart and Abdul Azis Abdul Hamid said.

The Petitioner shall at the hearing submit proof of posting and service of the copy of the Petition and Order as directed by the Court.

Issue Summons.

SO ORDERED. Issued this 10th day of February 2014, at Cagayan de Oro City.

(Sgd.) GIL G. BOLLOZOS

Presiding Judge BWM Mar. 17, 24 & 31, 2014

BusinessWeek MINDANAO

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

B illboard 12 ITPI celebrates woman empowerment in a night of cocktails and art YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Monday|march 31, 2014

By LOUISE DUMAS “Women are blessed with a lot of things; Women are blessed with the determination and tenacity, and the conditional love that they have over everything. These are the things that empower us,” said Ms. Cheryll Barriga, Vice President and General Manager of ItalPinas Euroasian Design and Eco-Development Corp.

(ITPI Corp.), the green developer of Primavera Residences in Cagayan De Oro City.

Continuing the celebration of women’s month, ITPI’s Primavera Residences held a cocktail night within its premises to pay ‘tribute to the strength and resiliency of the modern empowered women.’

Far from the domesticated stereotypes of women, the program was regaled with women from Northern Mindanao, each an epitome of the modern woman – smartly dressed, comfortable in her own skin and obviously at par with the men who had come to participate in the tribute.

Art works from various local artists including Nick Aca Jr., Eli Tabasuares, Rhyan Casino’s DIRE HUSI Initiative, and Shaun Uy were on display during the event.

All of them were surprisingly male. Of this, Jane Montebon Duterte, Community Relations

Specialist of ITPI and lead organizer of the event, explains, “We chose the artists because of their work.

The featured art works are the artists' interpretations of the theme which is ‘women's empowerment.'

The event was meant to honor women and their role in society and the art pieces are the artists' tribute to the role of women.”

Guests were treated to a screening of Mr. Uy's short films while they settled in with a light buffet and cocktails. After which, speakers from Soroptimist Iligan and Rotary Club Iligan shared their ideas on women empowerment. The luxury of the Primavera Residences was then presented by Ms. Barriga who shared the four types of clients they have – the immensely rich who just wants to buy anything money could buy, the buyers who want to buy because

everyone else is buying, the clients who are doing business in the area and therefore need the convenience of the condo, and finally, Ms. Barriga’s favorite she says, the investors who buy the units to lease them to transient business people. The women were then treated to a guided tour of the building’s smart and green features.

The event was the first ever held by ITPI to celebrate women, which could be considered

timely as the premiere eco-building developer establishes its prominence in Philippine real estate.“ITPI is a company that values the role of women in society,” said Gladys Ivy Echano, Sales and Marketing Director of ITPI. “In fact, 70% of its workforce are women.”

This classic example only shows that no, there is no woman behind every man's success. The woman is right beside the man in every success.

CU YOUTH RED CROSS ORG UNDERGOES TRAINING WITH RUSSIAN VOLUNTEER MINISTERS

S

CU Professor, Dr. Salvador A. Aves, with Volunteer Ministers from Russia.

cientology Vo l u n t e e r Ministers from Russia Nikolai Retota, Samira Gaddrakmanova and Alisia Roadless conducted a training program on Health Support and Risk Reduction to Eighteen (18) Youth Red Cross volunteers of Capitol University headed by Business Administration Student Body organization incoming President ,Dennis Geromo , last March

26, 2014. Likewise, CU Faculty members Dr. Lu Aves, Dr. Janet Parpa , Dr. Jessica Campano and Dr. Buddy Aves also attended the same training. It may be recalled that the Volunteer Ministers was here two years ago after Cagayan de Oro City experienced Typhoon Sendong.

From here the group will proceed to Negros Oriental and Tacloban City.

The participants were trained in a wide

range of skills that uses Scientology fundamentals to alleviate physical and mental sufferings. The training was opened to anyone who desires to help others and empower them to overcome difficulties and change conditions for the better.

The Volunteer Ministers emphasized that there is no greater joy in life than being able to provide effective help and make a difference in someone’s life.