BusinessWeek Mindanao (May 15, 2017)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 150

Market Indicators As of 5:30 pm May 12, 2017 (friday)

FOREX

PHISIX

US$1 = P49.813

7,815.53

12

X Briefly

cents

0.87

X

points

P9M for SPES THE provincial government of Misamis Oriental has spent at least PHP9 million for payment of wages under the Special Program for the Employment of Students (SPES) since 2013, Governor Yevgeny Vincente Emano said Thursday.

He said that about 3,766 students and out-of-school youth had benefited from the summer job program administered by the Provincial Employment and Services Office in the last four years.

The program is carried out in coordination with the Department of Labor and Employment (DOLE) under Republic Act No. 9547, also known as “An Act to Help Poor but Deserving Students,” by providing students with jobs during summer or Christmas season.

Cacao farmers training ABOUT 20 farmers from Misamis Oriental completed Friday a four-day training on cacao farming at the EcoTourism Village in Cugman, this city, Governor Yevgeny Vincente Emano said.

Emano said the workshop was expected to encourage the farmers to produce quality cacao beans, which could provide them better market opportunities.

Bryan M. Apatan, the provincial agriculture planning officer, said that the farmers were provided the latest technologies in high value crop production, particularly cacao.

He said that the farmers were expected to adopt the diversified/integrated best practices in farming and the newest technologies for production, marketing and distribution designed to perk up the farm business.

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‘War’ of malls in CdO intensifies www.businessweekmindanao.com

Monday | May 15, 2017

By CRIS DIAZ Contributing Editor

T

HE“war”among shopping malls in Cagayan de Oro City intensified w ith the op ening Friday of the 15.2-hectare Shoe Mart (SM) in the city’s downtown area along Claro M. Recto Avenue.

SM now has two shopping malls here, bringing to eight the number of big shopping malls in the city, aside from S & R, a mall that offers imported products only.

Cagayan De Oro City Rep. Maximo Rodriguez war/PAGE 11

WAR OF MALLS. Artist’s rendition of Cagayan de Oro’s newest shopping destination, SM CDO Downtown Premier, which opened Friday, May 12.

Oro Council approves payment for second tranche of salary hike THE CAGAYAN de Oro City council has approved the payment of the second tranche of the salar y increase for about 2,000 city hall employees, Vice Mayor Joaquin Uy said Friday.

Uy said the city council earmarked PHP 50.6 million for the implementation of the Salary Standardization

Law in the 2017 Annual budget.

He said that the budget was included in Supplemental Budget No. 2 in the 2017 General Fund and Special Accounts-Local Economic Enterprises.

The salar y hike was pu r s u a nt t o E x e c ut i v e O rd e r No. 201 ( S a l ar y

Standardization L aw of 2015) and the Department of Budget and Management (DBM) Local Budget Circular No. 113 dated January 5, 2017.

Uy said that the salary hike approved during the regular session last Monday would be retroactive January 2017. (PNA)

P15.00

SM opens high-end mall in Cag. de Oro SM PRIME Holdings, Inc. is expanding its footprint in Mindanao with the opening of a second shopping mall in Cagayan de Oro City.

In a statement, SM Prime said SM CDO Downtown Premier, with its 178,000 square meters of gross floor area, is set to open on Friday (May 12).

“SM Prime is one with the government in creating more opportunities that highlight the economic growth potential of Mindanao.

The opening of SM CDO Downtown Premier, which is at the gateway of Northern Mindanao, is our second SM mall in Cagayan de Oro, and fifth in Mindanao which reflects our commitment and confidence to this part of the country,” SM Prime President Jeffrey C. Lim was quoted as saying in a statement.

The mall will have a food court, bowing center, four digital theaters, two Director’s Club, one largeformat cinema, and an 800-seater Sky Hall, similar to the one in SM Aura Premier sm/PAGE 11

Veterans Bank opens new loan window for MSMEs DAVAO C i t y - - T h e Philippine Veterans Bank (PVB) announced Friday the opening of a P1 billion loan window for micro, small and medium enterprises (MSMEs).

Miguel Angelo VillaReal, PVB vice president and division head for C orporate C onsumer Relations Division, said the

loan facility for MSMEs is part of the bank’s rebranding initiatives.

PVB, which is owned by the veterans of World War II and retired military and police personnel, is headed by former Finance Secretary Roberto de Ocampo.

Vi l l a-R e a l s aid t he MSME loan facility is on a loan/PAGE 11

Beauties vying for Bai Naliyagan 2017 unveiled

By CHRIS V. PANGANIBAN, Contributing Editor

BAI Naliyagan 2017. The 14 beauties who will vie for the Bai Naliyagan 2017, one of the top crowd drawers in the week-long Naliyagan Festival 2017 in Agusan del Sur. Photo courtesy of the Provincial Public Information Office-Agusan del Sur.

SAN FRANCISCO, Agusan del Sur—Fourteen young lovely ladies from the 13 towns and a city of the province will vie to the prestigious Bai Naliyagan 2017 beauty pageant on June 12-17 expected to have more glitz and glamour this year as the province will celebrate its 50th foundation anniversary and 25th Naliyagan Festival celebration.

The pageant hopefuls were recently presented to the local media as 14 official candidates as they showed what they got when they paraded on stage before hundreds of spectators at the San Francisco Evacuation Center with ambiance of first-class hotel function room.

The activity was organized by Dr. Manuel

Rosaut, President and CEO of the Naliyagan Stakeholders Foundation Inc. and the Provincial Tourism Office.

Representing Mayor Jenny de Asis of San Francisco, Jocelyn Juen, Municipal Administrator, said they are proud to host the salvo engagement of the Search for Bai Naliyagan 2017 believing the activity will help boost the tourism industry of the municipality. beauties/PAGE 11

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2

Economy

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Masiu farmers join abaca production training

M

ARAWI City -With the growing industry of Abaca production in the country, the Department of Agrarian Reform (DAR) in the province

in partnership with the Philippine Fiber Industry Development Authority Reg ion (Phi lFIDA)-IX gathered more than sixty farmer-beneficiaries from various cooperatives of

the Indarapatra Agrarian Community in Masiu town on May 3 for a Training on Su s t ai n ab l e Ab a c a Production.

The activity aimed to introduce to the local farmers

MisOr inmates venture chicharon production THE inmates at the Misamis Oriental Provincial Jail and Rehabilitation Center (MOPJ) were given a capital to start a “chicharron” (pork rind) business.

Vicente Libona, an inmate and chairman of the Inmates Cooperative of the MOPJ, said

Governor Yevgeny Vincente Emano personally handed over to them a check worth P25,000 for the venture.

He said the turnover of the check was done in time for the blessing of the prison facility’s new administrative building.

Libona, a political prisoner, said that Emano promised to help in the marketing and packaging of the inmates’ livelihood business.

The governor said he would also invite chicharon/PAGE 11

the demand and supply situation of abaca industry as well as its planting and care management.

Engr. Mesug P. Unda , Provincial Agrarian Reform Program Officer II of DAR, talked about the essence and impact of abaca production not just in the socio-economic status of the agrarian partners but also in the environment as well.

Alex A. Jaducana, Phi l FIDA IX chief of operations, introduced to the local farmers the abaca industry situation, its uses, applications and maximing potentials of investing in abaca farm while Senior

Science Research Specialist Ferdinand C. L azo and Phil FIDA IX Regulatory UnitHead Danilo C. Damiles talked about the Abaca farm care and maintenance and the harvest and post-harvest handling and management, respectively.

Masui Mayor Nasser Pa n g a n d a m a n , o n t h e other hand, encouraged the farmers to keep themselves abreast on modern farming by atte nd i ng t r ai n i ng s and e du c at i ona l f i el d tour programs. “Pud ko kapamgay sa lupa na so mga support services para pkhawmanan so sowa iyo sa kang-gilopa na patot mambo

a psoportaan iyo so mga lagid aya a galbuk (distribution of lands are coupled with support services to increase your knowledge and skills in farming so you should cooperate in such activities li ke t his),” s aid Mayor Pangandaman.

The 3-day training ended on May 5 with a educational field-tour at the Municipality of Calanogas to let the farmers see the processed fiber and products that can be produced from abaca and at the Municipality of Malabang to visit the abaca plantation of the Matling C ooperative. ( Johaniah Yusoph/DAR-LDS/PIA-10)

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THE Oro Youth Development Council led by Atty. Ernesto ‘Tonton’ Neri initiated ‘The Oro Youth Day of Action’ today, May 11, 2017. ‘Oro Youth Day of Action’ is a city-wide and youth-led volunteer activity involving the Special Program for Employment of Students (SPES) beneficiaries and other volunteers who engaged in various activities such as creek clean-up, tree planting, advocacy on solid waste management and eco usage, book drive, night school teaching, Barangay Budget Watch, Human Rights Checklist, feeding and reading session.(Caption and photos by: Arjofel Isah Martinez & Sheila Marie Salapong/USTP Interns)

CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

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The iconic Mustang featured in the Rock the Road video.

A

n audiovisual ode to the Ford Mustang, one of the world’s most iconic cars, bagged a Kidlat Bronze award for the

Branded Film and Native Advertising category in the recent Kidlat Awards 2017. Ford was the only automotive brand to win in a major category at the

In a country where poorly maintained roads, and epic traffic jams in sweltering heat are the norm rather than the exception, a reasonable annual fee for 24/7 nationwide Emergency Roadside Assistance and towing is an investment worth considering, but getting Emergency Roadside Assistance free is even better especially if it comes from a company of unquestionable reliability.

And this exactly is just one of the things Goodyear now offers Filipino motorists with the rollout of the new and improved Worry Free Assurance, the first, latest, and most

comprehensive warranty coverage from Goodyear Philippines.

The beauty of Goodyear’s Worry Free Assurance Emergency Roadside Assistance is attached not to a car that will last 10-15 years but to a set or even just a pair of tires that will last between up to 3 years depending on mileage and vehicle condition; and there is no tire company in the Philippines more reputable than Goodyear. Goodyear is virtually a household name in the Philippines, it is one of the biggest and oldest tire companies in the world. If any company has the stability,

3 Ford Wins Bronze at 2017 Kidlat Awards for ‘Rock the Road’ video

Motoring

Awards.

The Ford Mustang “Rock the Road” (a.k.a.

Roar) video featured actor-race car driver Matteo Guidicelli and rock

band Sandwich, creatively integrated the iconic roar of the Mustang engine into a musical performance.

The video earned over seven million views on Facebook, more than 33 million online impressions, a 90 percent increase in vehicle inquiries, helping the Mustang sell out

across dealerships in the Philippines.

The Kidlat Awards, which is held annually by the 4A’s Creative Guild, recognizes the best and most creative works in the advertising industry.

“We’re honored to be recognized by the Kidlat Awards for our creative efforts to support the

iconic Mustang. This reinforces our strategy of storytelling through creative communications,” said Lance Mosley, managing director, Ford Philippines.

To watch the video, visit: https:// www.facebook.com/ FordPhilippines/ videos/1158680254211612/.

Worry-free driving with Goodyear Aston Martin unveils the Vanquish S

the knowhow, and the resources to confidently offer a 24/7 Emergency Roadside Assistance nationwide in the Philippines, it is Goodyear.

The Goodyear Worry Free Assurance is now the standard warranty

coverage that comes with selected models of Goodyear tires. Fulfilled in partnership with MAA Assurance as the insurance and emergency roadside assistance partner, the Worry Free goodyear/PAGE 10

GILBERT Y. CHAO - Motoring Editor

Aston Martin’s impressive new flagship Super GT, Vanquish S, was recently unveiled by Chairman and President of Aston Martin Manila, Marc Tagle.

The ultimate super GT, the stylish Vanquish S is a vehicle honoured to deliver more intense thrills and an even more scintillating performance, with

significant enhancements to the engine, chassis and aerodynamics.

Speaking at the Manila debut event, Mr Tagle, said “I am pleased to officially introduce the new Vanquish S, and we very much look forward to see the new flagship Aston Martin being driven on the streets of Manila.” vanquish/PAGE 10

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Opinion

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Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

Vice President for Administration

joe palabao

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NELSON CONSTANTINO Editor-in-Chief

gilbert y. chao

Motoring Editor JOEL ESCOL

BONG FABE

Feature Editor

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CLIFFORD SANTILLAN Layout Artist

JUN AYENSA

shyne campaner

Regional Editor Caraga

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Start a New Relationship with Someone You Already Know Think a minute…A recent study of fathers and their children was done in America with shocking results. The study showed that the average father spends only 37 seconds each day actually talking and listening to his child.

Inside our family, we can live separate lives in our own world. Even though we live together, we don’t really know each other and what each of us is feeling and going through. A teenager’s gravestone read: “Couldn’t you see that I was dying?”

Dad and Mom, sometimes we can read the weather signs better than we can read our own kids. Often we don’t know what they’re facing and feeling. We don’t know their fears, hurts, or frustrations. Are we really listening and understanding each other? Or do we just go through the motions every day, but actually close our ears and hearts to them?

Is it because we’re not really interested? Or do we simply not want to know the truth because we’re not sure how to handle it. We don’t want to be confused with the facts! Sometimes we parents choose to put our time and energy into our job and career because it’s easier

THINK

A Minute

Jhan Tiafau Hurst than really dealing with our kids or our spouse. But the more we escape from each other and our relationship challenges, the more distant and lonely we become.

Why not start a new relationship with your mate and children? Today, you can start changing. You can start tearing down the walls between you and your loved ones, and start building a new, closer relationship with them. First, we have to let go of old hurts and anger toward each other.

We must choose to forgive them and begin again. We also must stop having such unfair, high expectations of our kids, wife or husband, so they feel that we’ll only love them if they do what we want. hurst/PAGE 11

If I meet people fighting for our clean environment, you might find me at their site. Activists have started a eight-day push to get individuals and institutions to divest from oil, gas and coal corporations. Investing in the fossil fuel industry equals pumping money into climate change, they say.

Fossil fuels seem to be losing their unquestioned p osition as the world’s primary source of energy, particularly after the Paris climate agreement.

Even so, governments and private investors continue to support fossil fuel businesses worldwide.

The Global Divestment Mobilization (May 5 to 13, 2017) will draw together thousands of people from across 39 countries on six continents to push forward divestment from fossil fuels, in favor of renewable energy.

In other words, to convince investors to withdraw their financial support fossil fuel companies - and in doing so, protect the climate.

Environmental activists and concerned individuals ask for an immediate freeze of any new investment in coal, oil or gas companies.

The movement has spread across the world over the past five years. It’s based on the argument that investing in fossil energies fuels the climate crisis.

As a proj e c t of t h e environmental nonprofit organization 350.org, t he Glob a l Divest ment Mobilization started in United States universities in 2012. But the movement has now reached global dimensions. “Everything is growing very rapidly,” Melanie Mattauch, Europe communications coordinator told

international media.

The network includes now countries from Asia, Latin America and Africa. The development of the movement in Brazil, for i nst anc e, has b e e n particularly exciting for Mattauch. “There, many bishops and Catholic groups are engaged,” she said. “They want the Vatican to react as a great moral authority - and a great investor.”

And the movement has also been very successful, Mattauch said, pointing to its growth. More than 700 public i nst itut i ons worl dw i d e have already committed to divest, including educational institutions, philanthropic foundations and governments. Just last week, the German city of G ött i nge n h a s b e c ome the fourth German city withdrawing investment in coal, oil and gas companies.

H ave M y Say

Klaus Doring

As German citizen I am happy to learn about it.

Faith-based organizations represent around 20 percent of the total divestment reached yet.

“Christians in the Church have a particular moral and religious obligation to speak out on climate change,” a spokesperson from the Christian Climate Action group told German media.

She didn’t want to be named, out of professional reasons. doring/PAGE 11

Funding economic growth (3) In the two previous articles, we reported on President Rody Duterte’s ambitious public infrastructure program by which this administration hopes to further accelerate the momentum of economic growth.

The program, estimated to cost more than 8 Trillion over the next few years, will be funded thru the following means: 1. B y i m p r o v i n g tax collection efficiency through the approval and implement at ion of t he proposed tax reform package.

2. By continuing to tap the private sector for big ticket infrastructure projects.

3. By covering the shortfall through increased domestic, rather than foreign borrowing.

The proposed tax reform package is moving slowly through the legislative mill, raising concerns that revenue collection efforts may suffer because of the delay.

Meantime, we received

suggestions on how to further maximize revenue generation.

Specifically, the proposals refer to 1.) plugging the huge customs revenue leakage and 2. ) enhancing the publicprivate partnership.

Finance Secretary Carlos Dominguez III has pinpointed why customs collection efforts have consistently fallen short of target year after year. This has to do with the huge gap (something like 280 billion yearly ) between export figures as reported by exporting countries and import figures as reported by local agencies.

Jose Ma. Buñag, who graduated at the top of Ateneo Law class ‘68 and a former BIR commissioner, has this to say: “ T h at p r o b l e m h a s already been noted even while I was still with the BIR. One particular commodity were tiles. Customs records show very little importation compared to UN records on

China’s exports of tiles to the Philippines. Basically, this is a customs problem, really smuggling.

“I have not seen much yet by way of new measures by the present administration to root out smuggling, other than putting an outsider as Customs Commissioner who apparently is not corrupt.

“It is a hard problem to crack but other countries, like South Korea and Singapore, have done it.

“What I noticed is that in cracking this problem, full, almost undivided, attention by the top honcho (read the President) must be given to it.

“Response must be swift by way of confiscating smuggled goods and putting erring officials and importers to jail.

“Shipping companies and air cargo companies should also be put on notice that smuggling will not be tolerated and they risk their permits as well as jail terms

SPEAKING

O ut

Ignacio Bunye for their people if they are found shipping items without the correct papers.

“Informers should be amply rewarded quickly.

“The whole government machinery must be united in this objective, including the police and the courts.

“Everybody cooperates b e h i n d t h e P r e s i d e nt , exercising active and energetic leadership.

“This war should equal, if not better, the present war on drugs.” bunye/PAGE 11

Bible predictions happening in RP now LIFE’S INSPIRATIONS: “…

If you do not carefully follow all the words of this law, which are written in this book, and do not revere this glorious and awesome name---the LORD your God---the LORD will send fearful plagues on you and your descendants, harsh and prolonged disasters, and severe and lingering illnesses…” (Deuteronomy 28:58-59, the Holy Bible).

-ooo BIBLE PREDICTIONS HAPPENING IN RP NOW: Once again, verses airing warnings from the Bible are in the news in the Philippines.

This should prove once more that the Bible is indeed the Word of God that is true in its predictions and promises, so that everyone must try to familiarize themselves with it, and try to live by it, if power,

success, and prosperity are desired.

The first set of Biblical verses that are playing out now pertain to debilitating sicknesses and illnesses that are found in Deuteronomy 28:21,22, 27, 28, 35, and 5861, in relation to the news that the deadly HIV-AIDS virus are afflicting more and more Filipinos, especially those men having sex with other men.

The latest Department of Health report, dealing with HIV-AIDS afflictions in March 2017, says that there are now new 30 cases per day. In that month alone, 968 new cases were reported, and from that, 27 stricken people died. These figures brought to 2,661 the total number of HIV cases reported in the Philippines from January to Mach 2017 with 155 deaths!

-ooo FOREIGN GRIP OF RP PREDICTED BY THE BIBLE, TOO: The second set of Biblical verses that have also come true pertain to foreigners lording it over in the Philippines, as predicted in Deuteronomy 28:43-44, and 49-52. These verses are playing out in the cases of foreigners who have become politically and financially powerful in the Philippines, and who have become “lords” even in gambling and vices.

Let us just look around the country today, and we will not fail to see that our political rulers are foreigners, or are clearly from foreign descent. We will also not fail to see that 99 percent of the wealth of the Philippines are in the hands of foreigners who are now the economic moguls, czars, and taipans

K akampi

Mo A ng Batas

Atty. Batas Mauricio across the nation.

Then, who will not also realize that even in the field of gambling and vices in many parts of the country, foreigners are truly the ones lording it over? Now, even the greatly financiallyprofitable numbers game of jueteng is in the hands of foreigners? What is worse is batas/PAGE 10

5

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Bayad Center now accepts SSS payments from employers

C

orporate and household employers can now easily pay for their employees’ contributions to the Social Security System (SSS) through the Bayad Center Module, a web-based payment collection facility available in over 43 pilot sites nationwide.

SSS President and Chief Executive Officer Emmanuel F. Dooc said that the extended services of Bayad Center can provide easier and more convenient payment channels for SSS employers.

“Transacting employers are no longer required to fill out any forms since the contribution statement can be presented upon payment of employees and employer contributions to selected Bayad Center branches,” Dooc said.

The contribution statement--- which contains t h e e mp l oy e r’s bi l l i n g reference number, detailed and summarized collection list and total amount due --- can be generated in the Ac c ou nt s Man a ge m e nt System-Contribution Collection List (AMS-CCL) Billing Module of the SSS website.

Aside f rom creating the payable contribution c o l l e c t i on l i s t for t h e month, the SSS AMS-CCL Subsystem allows employers

to register their employees as well as to update their records if needed. They can also access the quick guide from https://www.sss. gov.ph/sss/amsbillv3/files/ AMSCCLS_QUICKGUIDE. pdf for personal reference.

There are 14 B ayad Center branches located in the National Capital Region (NCR) that are ready to accept employer payments, namely : Ever Commonwealth; East Gate 2 Meralco Complex, Ortigas City; Brgy. Gulod and Sauyo Novaliches City; Lakefront, Poblacion, and Starmall Alabang Muntinlupa City; Manggahan, Sagad, Kapitolyo and Sta. Lucia, Pasig; Tondo, Manila; San Juan; and Zapote Arcade, Las Piñas City.

Meanw hile, 15 pilot sites in Luzon specifically in GMA Cavite, Kasiglahan, Ligao, Nagcarlan, Paliparan, Polangui, San Pablo, Tanay, Taytay, Tropical Hut, Vigan, San Jose, San Fernando, Alaminos and Olongapo are authorized to receive SSS remittances from employers.

Bayad Center Inc. also assigned 10 pilot sites in Vis ayas reg i on namely Capitol Cebu, Cebu Main, B ogo, Talamban, VecoTa l i s ay, Ta l i s ay, L apu Lapu, Mandaue, Toledo, and Dumaguete.

Pilot sites in Mindanao namely Davao Center Point Plaza, Davao Ilustre, and

Oro quieta will als o b e accepting SSS employer payments.

“With the additional payment options, employers are expected to fulfill their obligations of remitting

their SSS payments on time to avoid penalties and violations,” Dooc concluded.

Bayad Center Inc. is one of the SSS-accredited e-payment facilities that a c c e p t s s e l f - e mp l o y e d

and voluntary members’ c ont r i but i on an d l o an amortization payments since April 2006. In 2016, BCI has facilitated 5,281.098 transactions with total remittances amounting to

nearly P6 billion.

In addition to the pilot Bayad Center branches, employers can also pay through all SSS branches with tellering facility using the AMS-CCL Billing.

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CorporateWorld

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Globe net income declines in Q1

G

LOBE TELECOM, Inc.’s net income fell 13% in the first three months of the year, weighed down by higher interest and depreciation expenses, as well as charges related to its joint buyout of San Miguel Corp.’s (SMC) telco assets with PLDT, Inc. In a quarterly report filed with the Philippine Stock Exchange, Globe said it recorded a profit of P3.761 billion in the first quarter, from P4.335 billion during the same period a year ago.

“Despite the sustained topl i n e an d E B I T DA (earnings before interest, t a x , d e p r e c i at i o n a n d amortization) growth, the impact of higher interest expenses and depreciation charges from its network infrastructure investments, as well as Globe’s share in equity losses and spectrum

amortization related to the SMC telco asset purchase, weighed down Globe’s net income,” the Ayala-led telco said.

Excluding the impact of non-recurring charges, and foreign exchange and markto-market charges, Globe said its core net income slipped 12% to P3.681 billion for the January to March period.

Globe said it ended the first three months of 2017 with “record-level” consolidated service revenues of P31.1 billion, 4% higher than the P30 billion recorded a year ago.

Mobile revenues went up 3% to P23.8 billion as of end March, amid continued strong data consumption of its customers. Globe said TM, its mass-market brand, posted 7% revenue growth from a year ago, while Globe Prepaid saw a 3% increase in

JG Summit Q1 net profit declines as fuel costs weigh on Cebu Air JG Summit Holdings, Inc. said net profit was P10.08 billion in the three months to March, down from P13.21 billion a year earlier, saying in a statement that the earnings of its airline business were weighed down by higher fuel prices and hedging losses.

The net profit was reported in a disclosure to the exchange.

In a separate press release, JG Summit reported core profit of P8.23 billion for the three months to March, little changed from P8.17 billion a year earlier.

The holding firm also disclosed that operating revenue grew to P67.51 billion from P60.59 billion a year earlier. In its press release, the group said growth was deen across the petrochemical, airline, foods, and banking businesses.

Earnings of Cebu Air, Inc. dropped by 68.2% to P4.04 billion on account of higher fuel prices, unspecified hedging losses and the weakening of the peso during the period.

As a result, operating expenses rose 20.3% to P11.89 billion, offsetting the 4.7% increase in gross revenues to P16.86 billion.

Airlines typically pay for their aircraft in foreign currency, while earning in local currency, making them sensitive to currency movements.

Revenue from JG Summit Petrochemicals Corp. and JG Summit Olefins Corp. hit P10.78 billion, up 61% yearon-year due to higher sales volume during the period.

The petrochemical business’ earnings amounted to P1.07 billion, up 129.5% from a year earlier.

Food division Universal Robina Corp. (URC) saw revenue growth of 7.6% to P30.69 billion “primarily due to a 7.3% increase in net sales of our branded consumer foods group, both domestic and international.”

Robinsons Land Corp.’s revenue was little changed at summit/PAGE 11

revenues.

Globe Postpaid recorded flat revenues year-on-year. “ The sustained solid revenue growth across all data-related segments, as well as the continued subscriber expansion for both mobile and broadband, led to this period’s strong performance.

This was likewise aided by the company’s gamechanging initiatives including a digital lifestyle play, innovative offers, and content partnerships with iconic global brands, backed by robust 3G and 4G networks

nationwide,” Globe said.

T h e t e l c o’s m o b i l e subscriber base stood at 58.6 million as of end March, 2% higher than the 57.3 million subscribers in the same period of 2016.

Globe noted mobile data contributed 42% to total mobile revenues, reaching nearly P10 billion for the three-month period -- 8% higher than the P9.2 billion reported a year ago.

Mobile data traffic surged 84% to 131 petabytes (PB) in the first quarter, as smartphone penetration hit

63%. However, mobile voice slipped 3% year on year and SMS increased by 3%. “ We a r e s e e i n g encouraging improvements this quarter, despite the temporary setback on profits as we continue to lay down the foundation to secure sustainable growth in the future,” Globe President and CEO Ernest L. Cu was quoted as saying.

“Our continued aggressive network modernization and upgrades using the latest technologies are all geared towards enhancing our

Internet services, so that our customers can have a wonderful and seamless connectivity,” he added.

Meanwhile, Globe Chief Finance Officer Rizza Maniego-Eala said Globe still needs to raise “P10 billion to P20 billion” this year to finance the budgeted $750-million capex for 2017.

“For the balance this year, [we’re raising] around P10 billion to P20 billion depending towards the end of the year and in preparation for 2018... we need advance income/PAGE 10

Globe, DepEd to bring responsible digital citizenship to public schools in Region IX Pagadian City, Zamboanga del Sur — Globe Telecom has partnered with the Department of Education (DepEd) in Region IX to bring its responsible digital citizenship program to all public schools in Zamboanga Peninsula which includes the provinces of Zamboanga del Nor te, Z amb o anga Sibugay, and Zamboanga del Sur as well as the two independent cities of Isabela and Zamboanga.

Together with the local government of Pagadian City and DepEd’s regional

office in Region IX, Globe will introduce the Digital Thumbprint Program (DTP) to the growing number of student Internet users in the region to remind them of the importance of respecting human dignity while online and at the same time, ensure their safety and well-being as cyber citizens. The program forms part of the digital nation roadmap created by Globe to promote intelligent and judicious use of the Internet.

“We are happy to know that the program can help

change the lives of the students when it comes to using social media. We hope that once this program is fully implemented in our division, we could see a significant incre as e in t he dig it al responsibility awareness level among our students,” said Michael Jolo, IT Officer, DepEd Isabela City Schools Division and President of the Isabela City ICT Council.

Yoly Crisanto, Globe Senior Vice President for Corporate Communications said: “The success of our Digital Thumbprint Program

is largely due to the support of t h e D e p a r t m e nt of Education. For this particular implementation, we are grateful to DepEd Region IX and the local government of Pagadian. By working together with DepEd and other private sector partners, we are helping address UN Sustainable Development Goal No. 4 which ensures inclusive and equitable quality education and lifelong learning opportunities for all.

This also allows the youth today to realize the value of online safety and responsible digital citizenship. This is our proactive way of providing opportunities to young netizens to take advantage of available technologies fully.”

Globe also conducted the “Trainers’ Strand” of the DTP to key stakeholders of DepEd in Region IX through trained facilitators and workshop experts. These stakeholders, in turn, have the responsibility to share with other schools in the region what they have learned in the program.

DTP is composed of a series of workshops that aims to help create responsible digital citizens. The program was Launch of the Digital Thumbprint Program at the Hotel Guillermo in Pagadian City graced in response to the prominent by (seated from L-R): Dr. Pedro Melchor Natividad, Officer in Charge and Assistant role that the Internet now Regional Director, DepEd Region IX; Dr. Margarita Consolacion Ballesteros, Director IV, External Partnerships of DepEd; Dr. Isabelita Borres, CESO III, Regional Director of DepEd plays in the lives of many Region IX; and a representative of Hon. Antonio Cerilles, Governor of Zamboanga del Filipinos, especially the youth Sur. They were joined by Globe representatives and other DepEd partners. digital/PAGE 10

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Banking&Finance

BSP sets new deadline for swap of old bills

T

HE BANGKO Sentral ng Pilipinas (BSP) has extended by three months the deadline for banks to exchange old peso bills.

Under Memorandum No. M-2017-016 dated May 5, the regulator announced banks now have until Sept. 30 this year to replace old bank notes from the original deadline of June 30, 2017.

The extension was also

contained in BSP Circular No. 959 dated April 25 that was approved by the Monetary Board, according to the memo. ”This decision amends BSP Circular No. 939, dated 12 January 2017. In this recent Circular, the BSP also reminds AABs (head offices and their branches) to accept/exchange/replace NDS banknotes from the general public, clients or

non-clients, until 30 June 2017,” the BSP stated.

The central bank has the sole authority to issue money for general use.

The Philippine peso bills currently in circulation have denominations of P20, P50, P100, P200, P500 and P1,000.

In December, the central bank also released the first batch of new bills carrying newly-installed President R o d r i g o R . D u t e r t e’s

U N IO N BA N K of t h e Philippines (UnionBank) expects its bancassurance partnership with Insular Life Assurance Co. Ltd. (Insular Life) to contribute “significantly” in its bottom line for this year, the lender’s chief executive said.

“Significant enough.

Double digit... as a percentage of total, sana (hopefully) [50%,]” UnionBank President and Chief Executive Officer Edwin R. Bautista told reporters on the sidelines of a press conference on Wednesday when asked how much would the partnership

would contribute to the bank’s net income this year.

“But the goal is to be one of the top bancassurance partnerships in the country.

I think our main advantage is the sales culture that is already existing in the branches,” he added.

L a s t J a n u a r y, t h e Aboitiz-led bank sealed a 15-year bancassurance agreement with Insular Life.

Bancassurance refers to the selling of insurance products within bank branches.

UnionBank said through the partnership, the local insurance company will

be able to benefit from its network of 300 branches, with over six million clients.

The listed lender, along with its thrift banking arm City Savings Bank Inc., bagged the approvals of the Insurance Commission (IC) and Bangko Sentral ng Pilipinas to sell Insular Life’s insurance products last March 8 and April 4, respectively.

Republic Act No. 10607 or an “Act Strengthening the Insurance Industry,” also known as the amended Insurance C ode, stated that banks are no longer partnership/PAGE 10

signature.

The central bank first released the New Generation Currency series in December 2010 as it gradually phased out the use of the 1985 design set.

The old money has been rendered unusable for daily transactions as of Jan. 1, 2016.

7

EastWest says on track to hit P4.25-B profit target EAST WEST Banking Corp.

(EastWest Bank) has reported a double-digit growth in its bottom line in the first three months of the year, boosting its optimism to hit its P4.25billion profit target for 2017.

In a disclosure to the Philippine Stock Exchange on Friday, the Gotianunled bank announced its net income reached P1.2 billion in the first quarter of the year, soaring by an annual 54%.

“As we have said previously,

we expect to see steady increase in productivity after we have completed our expansion and as our stores mature. Business has been good,” EastWest Bank Vice Chairman and Chief Executive Officer Antonio C. Moncupa, Jr. was quoted as saying in a statement.

“At the rate we are going, a 25% increase in income this year to around Php4.25 billion is doable.” eastwest/PAGE 10

UnionBank expects boost from bancassurance partnership

CMYK

Medina, Misamis Oriental Mayor Donato Chan assists 21-year-old Princess Anisah Kaye Mangondato, a candidate of Bb. Medina Tourism 2017, during their treeplanting activity last May 8. Their coronation night will be held on May 14. PHOTO COURTESY OF MEDINA LGU

8

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ePLDT leads talks on Cyber Security at the 1st PICSPro Annual Convention in Visayas

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ePLDT, Inc., an industryleading provider of digital enterprise solutions including a complete suite of Cyber Security services, led the discussion on cyber security as an imperative component in ensuring t h e n at i on’s re s i l i e n c y during the 1st Philippine Institute of Cyber Security Professionals (PICSPro) Annual Convention held

re c e nt ly at E l C i rc u l o Convention Center, Roxas City.

The three-day convention titled, ‘Cyber Security, Our Nation’s Priority’ is led by a host of cyber security thought leaders who demonstrated the critical rol e s pl aye d by Cy b e r Security in the country’s economy, public safety and business innovation.

According to ePLDT Group Chief Information S e c ur ity Of f icer Angel R e doble, w hi le to d ay’s technologies are innovating “faster t han humans predicted,” cyber criminals grow even smarter, making it more difficult for enterprises in the country to catch them.

“The new breed of hackers no longer need muscles. They are smart enough to know

their way out,” Redoble said.

“To ensure holistic security and business resiliency in the Philippines, there is a need to develop the right skills, acquire the right technology and implement the right processes.”

Learn about ePLDT’s Cyber Security portfolio and other business solutions.

Visit the website at www. epldt.com.

SSS facilitates immediate processing of benefit claims for victims of Nueva Ecija bus accident T he S o c i a l S e c u r i t y System (SSS) implemented the special processing of death and funeral benefits for beneficiaries of SSS members who died in the Nueva Ecija bus mishap last month.

“Social Security C ommission headed by Chairman Amado Valdez has instructed management to immediately release their funeral and death benefits.

Thus, I have directed the SSS branch nearest to the accident area to allot special lanes for the survivors and families of the deceased members,” SSS President and Chief Executive Officer Emmanuel F. Dooc said.

Families applying for death and funeral benefits do not have to submit fact of death but only standard documentary requirements.

Meanwhile, victims who s u f f e re d f rom i nj u r i e s may avail themselves of t he SS and Employe es’ Compensation (EC) sickness upon submission of the standard requirements for doctor’s evaluation.

To date, out of the 33 reported casualties of the Provincial Disaster Risk Reduction and Management (PDRRM) Office of Nueva Vizcaya, six were confirmed as SSS members. So far, only Maximo G. Esperon’s legal dependent from Solano, Nueva Vizcaya, claimed the SSS benefits.

“In one day, we received and processed the funeral benefit application from Maximo’s mother, Julita

G. Esperon. She received a check worth P24,057.29 as funeral benefit,” SSS Solano Branch Head Jose Rizal S. Tarun said.

Esperon’s mother is also entitled to receive lumpsum death benefits amounting to about P93,480.12.

Meanwhile, SSS branches in Meycauayan, Solano, San Jose and La Union are still waiting for death and funeral applications from the

families of 5 other deceased members. They are entitled to receive funeral and death benefits amounting to about P102,180 and P308,813.34 respectively.

The SSS funeral benefit ranges from P20,000 to P40,000 depending on the member's paid contributions and credited years of service (CYS). EC funeral, on the other hand, is pegged at P20,000.

Meanwhile, the amount of death benefits for survivors will depend on the member’s paid contributions and CYS. Legal beneficiaries of the deceased member who has paid at least 36 monthly contributions is entitled to receive monthly death pension. However, if the deceased member has only paid less than 36 monthly contributions, the sss/PAGE 10

Bell Tel: No existing co-location agreement in NGCP sites MANILA -- Bell Te l e c o m m u n i c a t i o n s Philippines, Inc. (“Bell Tel”) clarified that it does not have any exist ing co-lo cation agreement with either the National Grid Corporation of the Philippines (“NGCP”) or the National Transmission Corporation (“Transco”) relating to installation of tel e c om mu n i c at i on structures in any of the NGCP-controlled sites.

Transco is the National Transmission Corp., which owns the country’s power grid while NGCP is Transco’s private concessionaire.

“Bell Tel does not have any existing assets in any NGCP-controlled location as there is no existing colocation agreement with NGCP nor Transco,” said Bell Tel co-General Manager Ramon Aesquivel. Bell Tel is one of the subsidiaries of

Vega Telecom, Inc., which was jointly acquired last year by Globe Telecoms Inc. (“Globe”) and PLDT Inc. (“PLDT”) from San Miguel Corporation (“SMC”).

Citing a letter to NGCP President Henry Sy, Jr., Transco President Melvin Matibag claimed during a me di a br ief ing t hat he has received reports a b o u t “d i s m a n t l i n g and deinst a l lat ion” of telecommunication facilities supposedly owned by Bell Tel located at NGCP substations, high voltage towers and high voltage poles.

Matibag also cited purchase orders, signed by Aesquivel and Bell Tel co-General Manager Aileen Regio, supposedly to implement the said “dismantling and deinstallation”.

Ae s qu ivel st re ss e d, however, that the initial investigation conducted

by Bell Tel showed that the purchase orders cited by Matibag were intended for other sites, none of which are NGCP locations. “ B e l l Te l h a s n o t authorized the dismantling of any telco facility in any NGCP site because Bell Tel does not have existing facilities in those locations to begin with,” Aesquivel emphasized. “"If indeed there is ongoing dismantling of telco facilities within NGCP sites, those are not owned by nor are related to Bell Tel in any way,” he said.

He added that Bell Tel is currently undertaking its own investigation on this matter, including how a Bell Tel purchase order issued to one of its contractors ended up with someone unauthorized or not party to the intended purpose of the purchase order.

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Merry Child School stude nets 4 taekwondo golds A

By MARK FRANCISCO

16-year-old male student of Merry Child School in Cagayan de Oro City became the only athlete out of 12,000 participants to net four gold medals in the recently concluded Palarong Pambansa 2017.

Taekwondo varsity member Michael Porras inherited his winning genes from his older brother who is also a taekwondo practitioner, now a varsity member in his own right of San Beda College.

When Porras was still

seven, he used to idolize his then ten-year-old brother, also a student of Merry Child School, when the older one became a taekwondo varsity member.

It didn’t take long for the younger one to follow suit and even became a Merry Child taekwondo varsity member at an age even younger than when his older brother Kenneth first started.

That’s an incredible story considering that neither of their parents is into taekwondo.

Nevertheless, Michael

went on winning his first medal during the Nasipit Invitational in 2008 when he was still a second grader. He won a gold medal at the time!

And the medals kept on coming.

Porras culminated his colourful elementary life with a gold medal at the National Milo Little Olympics 2012 in Marikina.

Still a loyal varsity player representing Merry Child School, Porras grabbed three medals at the 2016 Palarong Pambansa that was held in Albay. Those were a gold and two silvers.

A year later, Porras grabbed headlines when he was the only participant in the 2017 Palarong Pambansa to snatch four golds.

This he achieved after entering four categories – individual poomsae, mixed pair poomsae, team poomsae and kyonugi.

The success doesn’t stop there. Porras’ next target will be the 2018 Palarong Pambansa.

It’s not just him who’s looking forward. Eightyear-old little sister Mikee Yrrech Porras is not far behind. This early, she’s already a varsity member at Merry Child School.

Dermcare Luxe opens at SM CDO Downtown Premier Story and Photos by MARK FRANCISCO

THE Philippines’ premier skin care facility has opened at Cagayan de Oro’s premier shopping mall.

Dermcare Luxe proudly presents its distinctive services at the fourth level of SM CDO Downtown Premier.

It is the 80th branch of Dermcare and the tenth under the Luxe flagship.

Established in the 1990s, Dermcare Luxe has evolved into higher levels of luxurious pampering and more soothing ambience by way of installing modern state of the art facilities to ensure its valued clients’ satisfaction.

For instance, love your age by staying young and beautiful with the help of Dermcare’s anti-aging

services and products.

Dermcare’s anti-aging services and products help reduce fine lines and wrinkles sand give extra care that your mature skin deserves.

Their time-tested procedures and beauty regimen hydrate, plump and flood the skin with age-defying nourishment that will keep you looking younger and beautiful.

Among their services are pimple acne treatment, facial with seaweed mask, facial with collagen mask, facial with Kojic whitening mask, facial with oatmeal, facial with cucumber mask, eyebag treatment, oxygen infusion facial, henna treatment, body bliss, eyebrow shaping and their renowned diamond power peel.

SM Cinema introduces Mega Screen to Cagayanons

This most sought after facial treatment is a painless process whereby tiny diamond grains are used to gently suction and peel off the dead cells from the skin’s top layer or epidermis, leaving more vital cells underneath.

The main advantage of the diamond peel procedure is in its ability to control the level and area of abrasion. This

helps ensure that skin trauma is minimized. The skin can heal more evenly and naturally instead of a rush response to skin injury.

Awaiting at Dermcare Luxe for you is a royal treatment guaranteed to delight your senses, soothe your minds and melt away your stress as you luxuriate in rejuvenating treatments.

SM Cinema brings family entertainment to the city of Cagayan de Oro through seven quality and innovative theatres in Mindanao’s largest newly-opened shopping center, SM CDO Downtown Premier.

Cagayanons may now choose their cinematic adventure in three ways a SM Cinema CDO Downtown Premier opens its doors beginning May 12.

SM Cinema’s entertainment hub in CDO introduces the Mega Screen – size does matter in Southeast asia’s first supersized screen equipped with a Christie 6P laser projection system. This format boasts an almost 30 percent large screen size versus regular cinemas with laser projection that produces the brightest images and most accurate reproduction of colors from the actual movie set. The SM CDO Downtown Premier Mega Screen theatre is installed with stadium-like seats and uses Dolby Atmos Sound System on Christie Vive Speakers, fully immersing its audience through state of the art

surround sound technology.

Aside from the Mega Screen, movie lovers can watch this year’s most anticipated blockbuster movies in clear bright images and pristine sound with SM Cinema’s fully digitized theatres equipped with top of the line surround sound systems. Escape to SM Cinema’s four new theatres and experience the spectacle of movies with friends and family.

The two luxurious Director’s Club Cinemas in Cagayan de Oro will welcome its guests soon with a spacious fully carpeted lobby and sets the mood with its warm lighting. Guess who are looking for a more refined movie experience can relax in its comfortable automatic recliners furnished with spacious side tables for food and drinks that may be ordered through an in your eat butler service. With wallto-wall screens supported by quality surround system, guests can sit back, take a seat and join the club as they watch their favourite movies in total luxury.

10

Batas... from page 4

that, smuggling of rice and other prime commodities are masterminded also by foreigners.

-ooo AND KNK: TRYING TO FIGHT AND STOP GOD’S CURSES: I have often been asked by friends as to what I think caused all of these.

My ready answer has always been, the Bible prophesied and predicted these things to happen. Indeed, the Bible had been very accurate in its pronouncements about almost all aspects of our lives.

It said if people no longer read the Bible nor listen to, and obey, God’s commands, God’s curses will come upon them.

This is exactly what is happening now in the Philippines, and in many other parts of the world.

Because man everywhere no longer care to read the Bible, and no longer think it is necessary to respect and fear and obey God, the

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curses that were promised to come upon them when this disrespect and lack of fear of God are displayed are coming relentlessly, causing total destruction among them.

The one thing that could be done, therefore, to fight and stop these curses from coming further, and avert the destruction that come along with them, is to read the Bible and obey God once again. That is what we are trying to do at the AND KNK, or the Anak ng Diyos Kadugo Ni Kristo (Children of God Blood Kin of the Christ) Church. If you are interested, call me or email me at the numbers and address indicated below.

-ooo WATCH “ANG TANGING DAAN”, “KAKAMPI MO A N G BATA S”, AT F B LIVE: Please watch “Ang Tanging Daan”, a Bible E x p o s it i on and pr aye r session at www.facebook. com/angtangingdaan and “Kakampi Mo Ang Batas”, a legal counseling-news commentar y program

at w w w. f a c e b o o k . c om / kakampimoangbatas.

Reactions: 0917 984 24 68, 0918 574 0193, 0977 805 9058. Email: batasmauricio@ yahoo.com.

Income... from page 6

for 2018, we will raise it this year but not necessarily draw it down... but by and large, a large part of our financing for this year is already done,” Ms. Maniego-Eala told reporters yesterday.

The Globe executive said the company is looking to raise through “bilateral loan or retail bonds” after it secured board approval, for a P40billion retail bond offering although it did not file yet with the Securities and Exchange Commission.

“We have access to bilateral loans, we also got approval from the board for P40-billion retail bond offering although we have not filed for that retail bonds yet, we can access some of that if we need... We will determine by the second half of the year whether we want to tap retail bonds or tap the banks for bilateral loan. We haven’t done retail bonds for two and a half years, maybe it’s time for us to do that. Although we have yet to decide,” she added.

Ms. Maniego-Eala also said that Globe already “raised all the funds” for the P69-billion San Miguel deal with Pangilinan-led PLDT, Inc., and it is just a matter of “drawing them.”

Globe is looking at a 5% growth in revenue, 40% EBITDA margin and has set a $750-million capex this year.

Digital... from page 6

who spends a significant amount of time online to do schoolwork, play games or connect to various social media platforms. However, these “digital natives” also became exposed to a variety

of issues like identity theft and worse, cyberbullying, which saw the need to educate them regarding the importance of responsible use of technology and the Internet.

The program has three informative modules for students such as “Digital Insight” which is designed to help students discern proper online behavior; “Digital Impact” which focuses on issues related to technology’s impact on students’ social activities; and “Digital Ambition” which aims to equip students with skills in using technology to help them achieve their life goals.

The modules were developed to expand students’ knowledge about digital citizenship and cybersafety by taking a critical look at their behavior when online and helping them develop insights into the influences of the online world and the choices they make. Specific content that puts emphasis on issues such as safety and security, responsibility and etiquette, and leadership and empowerment when the youth are online are also included in the workshops.

At present, the program, which runs alongside Globe Telecom’s award-winning Global Filipino Schools (GFS) initiative, already reached 6,374 students while 911 teachers were already empowered to share and teach the program to their students. For more about the Digital Thumbprint Program, visit www.globe.com.ph.

EastWest... from page 7

The listed lender’s total revenues grew 18% to P6 billion in the January to March period on the back of the bank’s robust consumer business that was funded by an expansion in its deposits.

Its core revenues likewise expanded to P5.9 billion by end-March, 26% up year on

Republic of the Philippines Region X Province of Lanao del Norte Municipality of Kapatagan Office of the Municipal Civil Registrar RA 10172(GENDER) NOTICE OF PUBLICATION In compliance with Rule 7 of R.A. 10172, a notice is hereby served to the public that BELMA BULAC PANGANIBAN has filed with this office a petition for Change of Gender from MALE to FEMALE in the birth certificate of MELVIE BULAC PANGANIBAN who was born on MAY 16, 2000 at KAPATAGAN, LANAO DEL NORTE and whose parents EDGAR MALIKAY PANGANIBAN and BELMA PIOQUINTO BULAC Any person adversely affected by said petition may file his written opposition with this Office not later 15 days.

BWM: May 8 & 15, 2017 Publication Notice R.A. 10172

(Sgd.) IVY REYES TONGCO Municipal Civil Registrar

CCE-0018-2017

Partnership... from page 7

mandated to have a 5% equity in insurance companies to enter into a bancassurance deal.

Any bank can enter the bancassurance business as long as it complies with the requirements set by the IC and BSP. Asked how the bancassurance business will fare this year amid market volatility, Chief Bancassurance Executive of the partnership between UnionBank and Insular Life Omar T. Cruz said: “This business will definitely transcend market volatility because this business is not about trading your portfolio but this business is about addressing the real financial need of the client across time.”

“So I think after one year, we should have very interesting results,” he noted.

In a separate development, UnionBank’s net income in the first three months of the year reached P2.21 billion, 37% higher from the P1.61 billion recorded in the same period in 2016.

Goodyear... from page 3

Assurance guarantees 24/7 Emergency Roadside assistance not just for tirerelated incidents, but for any vehicle breakdown as well as a Personal Accident Insurance of up to P50,000 for the driver of the enrolled vehicle. Also included in the

coverage are Goodyear’s 5 year limited warranty (from date of purchase) against manufacturer defects, one year Road Hazard Warranty (for select tire patterns)and an easy 0% interest payment scheme for up to 6 months.

Getting your Goodyear Worry Free Assurance card is FREE when you purchaseat least two eligible Goodyear tires of the same pattern and size. This is exclusively offered in Goodyear Autocareand Servitekoutlets. The vehicle the tires are used on then becomes eligible for Worry Free Assurance and all of its benefits.

“Goodyear is committed to being the most trusted brand in tires and automotive ser vices in the countr y.

R e c o g n i z i ng t h at h i g h quality services are extremely important to our customers in the maintenance of their vehicles, customers of our Goodyear Autocare outlets will be served by an expert team, who are provided with the latest equipment in auto servicing. And with the new Goodyear Worry Free Assurance warranty program, we are stepping up and setting the bar high for unparalleled warranty offerings,” shared Kenneth Sambajon, Market Director of Goodyear Philippines.

Vanquish... from page 3

Equipped with an uprated 6.0-litre V12 engine producing 588 PS, Vanquish S has a top speed of 323km/h, and achieves 0-100km/h in just 3.5 seconds.

The ultimate supercar offers a truly unforgettable driving experience with an 8-speed Touchtronic III Transmission, quad-exhaust tailpipes, and revised inlet manifolds for increased engine airflow.

Visually the Vanquish S can be readily distinguished by a new aerodynamic package, cloaked in a suit of carbon. A 2×2 carbon fibre twill front splitter and rear diffuser will not only accentuate exterior styling, but improve high-speed stability as well.

Inside the cabin, the Vanquish S displays luxurious interior features such as Filograph quilt design options, Bang & Olufsen audio and the AMi III Infotainment system with all new satellite navigation.

Vanquish S embodies the very essence of Aston Martin and yet redefines each core element to create a machine of amplified sporting capability; a combination of unbound craftsmanship and power that comes together in utmost harmony.

Republic of the Philippines AUTONOMOUS REGION IN MUSLIM MINDANAO Province of Lanao Del Sur MUNICIPALITY OF MASIU

Republic of the Philippines Local Civil Registry Office Province of Misamis Oriental MUNICIPALITY OF LAGONGLONG -oOoNOTICE TO THE PUBLIC

year.

“The ability to generate substantially more deposits that allowed the Bank to comfortably fund its loan expansion was a direct benefit from the bold decision made by the Bank as early as 2012 to expand its store network and organizational infrastructure to reach the breadth and depth of the retail consumer market,” EastWest said in a statement.

The bank’s operating expenses climbed to P3.2 billion in the first quarter, 13% higher year-on-year as this was “mostly related to deposit growth such as PDIC fees, documentary stamp taxes, and supervision fees, as well as the initiative to convert to EMV cards.”

Its total assets rose 22% year-on-year, primarily driven by consumer loans accounted for bulk or 69% of the bank’s total loans and expanded by 43% year-onyear.

April 26, 2017

In compliance with the publication requirement and pursuant to OCRG Memorandum Circular No.____ Guidelines in the implementation of the Administrative Order 1 s. 2012 (!RR on R.A. 10172), Notice is hereby served to the public that Ceryl G. Adajar has filed with this office, a Petition for Change of First Name from n.a. to n.a. and correction of Entry in Sex from Male to Female or Correction of entry in the Date of Birth n.a. to n.a. in the Certificate of Live Birth of ________ at Lagonglong, Misamis Oriental and whose parents are Ce rino P. Adajar and Rebecca B. Gabutan

Any person adversely affected by the said petition may file his written opposition with this Office not later than fifteen (15) days after the initial publication would have been made.

(SGD.) REX R. VALMORES

Municipal Civil Registrar BWM: May 8 & 15, 2017

OFFICE OF THE MUNICIPAL CIVIL REGISTRAR NOTICE OF PUBLICATION In compliance with Section 5 of R.A. 10172 a notice is hereby served to the Public that SANIA PAMLI-AN MIMBANTAS has filed with this office a petition to the correction of clerical error in the entry of the child’s SEX from “MALE” to “FEMALE” in the Certificate of Live Birth of SANIA PAMLI-AN MIMBANTAS who was born on July 29, 1999 in Masiu,Lanao Del Sur and whose parents are INOCAYA M. PAMLI-AN and TOMIANONG S. MIMBANTAS. Any person adversely affected by said petition may file his written opposition with this Office not later than ______ 2017.

(SGD.) AMRON D. MACABANGKIT

Municipal Civil Registrar BWM: May 15 & 22, 2017

11

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monday|may 15, 2017

War... from page 1

said the opening of SM CDO Downtown Premier shopping mall might affect the operation or earnings of other malls in the city.

East of SM CDO Premier is the 200-hectare Limketkai Commercial Complex, which houses Robinsons Mall, Shop Wise shopping mall and other high end shops of imported goods, restaurants and food chains. The Pure Gold shopping mall is also on the eastern side of Claro M. Recto Avenue.

On the west side, are the old and reliable Gaisano Mall and the five-year-old 3.7-hectare Ayala Centrio Shopping Mall.

Further to the city’s western district are the S & R shopping center along Kauswagan Highway and the other SM Shopping Mall, a colossal building amid the sprawling landscape of high-end and middle income residential subdivisions in Upper Carmen.

Each of the mall houses various acclaimed upscale retail stores, fashion and beauty shops, pizza houses, electronics, restaurants, wet and dry markets, and food chains like McDonalds, Jollibee, Goldilocks, Kenny R ogers, C how k ing and Greenwich, to name just a few.

Most people prefer to go shopping or just “window shopping” in spacious malls with wide and secure parking spaces and with coffee or food shops to hangout with fast Wi-Fi ready connections.

Most Wi-Fis in shopping malls here are secured with passwords.

While the newly-opened SM CDO Premier might have everything to offer to any egocentric and impulsive shopper, its parking space is very limited. With a floor area of about eight hectares, the remaining seven hectares could be utilized for parking space and other activities.

Like any other shopping mall along Claro M. Recto Avenue, SM CDO Premier Mall is prone to flooding during the rainy season. The management said it has an underground catchment that can hold over 13,000 cubic meters of floodwater.

A trading capital with a substandard drainage system compared to other emerging cities in Mindanao, Cagayan de Oro City’s busy downtown district is susceptible to d ange rous f l o o ds w it h currents that could sweep vehicles like what happened in the January 2017 flood.

The newly-opened SM CDO Premier joins Gaisano Mall and Ayala Centrio Mall in worrying on the effect of street flooding to their operation.

The sprawling Limketkai Commercial Center, an adjacent neighbor of SM CDO Premier has to contend with the flood waters, too.

With the entry of SM CDO Premier, it’s now a battle of strategy among the malls to win the greatest number of patrons.

During its opening Friday, SM CDO Premier offered a buy one, take one promotion on selected products. Not to be left behind, Ayala Centrio offered a certain item for P1.00, causing a frenzy among impulsive consumers.

A city of about 700,000 people with an annual growth rate of 2.2 percent, and with about P4 billion money in circulation at any time of the day, Cagayan De Oro City has become the center of commerce in Northern Mindanao.

People from the neighboring provinces of Bukidnon, Lanao Del Norte, Misamis Oriental, Camiguin and Agusan Del Nor te keep Cagayan de Oro City’s shopping malls alive.

Many local businessmen believed that big-time mall owners in Manila started to show interest when Cagayan de Oro City topped the National Competitiveness Council of the Philippines (NC CP) sur ve y, minus the cities of Makati, Cebu and Davao, with a score of 72 percent among highly competitive cities in 2012.

SM CDO Premier ma l l or ig ina l ly st ar te d construction in 2012, but the construction was withheld for about two years because the management has to deal with the “exorbitant business and real estate taxes imposed by the city government.”

With Friday’s opening of SM CDO Premier, shoppers now have a wider choice, and it is up to the mall operators how they can attract the bulk of the public.

SM...

from page 1

in Taguig. It will also feature an al fresco dining area Sky Garden, patterned after the one in SM North EDSA in Quezon City.

Located in the city’s central business district, SM CDO Downtown Premier will also have an eight-level office building catering to companies in the business process outsourcing industry.

SM Prime said the new mall will also have a water catchment beneath, “which will be able to hold 13,650 cubic meters of rainwater to help lessen the flooding in the area.”

Loan... from page 1

“first come, first serve” basis, adding they may increase the portfolio if there will be more creditors.

He said the “problem with banks now is that they are awash with cash,” and that they are trying to move out the deposits by offering loans.

Vi l la-Re a l s aid t he y can extend loans f rom PHP300,000 to PHP100 million.

Vi l l a - r e a l s a i d t h e process will take about two to four weeks, including the evaluation of the potential creditor.

“This is a market that the bank is new into and our account officers need to be trained. Hopefully within six months, the process would

be faster,” he said.

Villa-Real said they are now focusing on a technology for digital banking to make life easier for their clients.

Beauties... from page 1

2016 Bai Naliyagan crown holder Angelica Wasawas said she can remember and feel the excitement 11 years ago when she herself was a candidate. Feeling blessed while offering pieces of advises to the candidates, Wasawas said a candidate must make the best of herself.

Wasawas added that while joining a beauty pageant like the Search for Bai Naliyagan, every candidate must enjoy every moment they spend with their fellow candidates, while sharing the knowledge and experiences they encountered.

“I have faith in you being representatives of your respective municipalities, and the honor laid upon your shoulders to represent the province of Agusan del Sur in all goodwill undertakings,” Wasawas said.

Sangguniang Panlalawigan (SP) member and Chairperson of the Tourism Committee Hazel “kling” del Rosario said every candidate must enjoy ever y bit of their time from now on until the final judgment of who will be crowned Bai Naliyagan because ten years from now, it will be different.

“I tell you, in order to win, compete with yourself. Do not be in a hurry to marry.

Feel yourself beautifully and always have a beautiful, smiling heart. Set your mind to always feel young. Make a change, using the honor being on top. You, being chosen to represent your municipality, is already a distinction that you are on top,” SP member del Rosario said.

Representing Gov. Adolph E dward Plaza as guest speaker, SP member Edward Mellana acknowledges the great challenge that every candidate bear in their hands and minds, but suggested that they must conquer themselves in order to bring confidence within.

“I know you have hard rol e s b e ing c and id ate s because the judges can ask you any question in this world, while all of you have the chance to answer. I tell you, just go for it,” SP Mellana said.

After the advises and messages from officials and guests, guidelines and criteria for judging was presented open for discussion by the candidates and their parties.

Chicharon... from page 2

representatives from the Department of Science and Technology (DOST) to visit the MOPJ and assist the inmates in their chicharon business, Libona said.

He said the P25,000 assistance provided by the provincial government is a big help to make the inmates productive while in prison.

Aside from being productive, the inmates could also earn and help their family

while waiting for the court to resolve their cases, Libona said. ”We are hoping that the opportunity provided by the provincial government to the inmates to earn a living while in prison would become successful,” Libona said.

(Nicole Roa Managbanag/ PNA)

Hurst... from page 4

You see, it all begins with starting a new relationship with the One Who gave us each other. In fact, Jesus died just so you and I could be forgiven of all our wrongs and enjoy a daily, personal relationship with Him. So why not ask Jesus to forgive you and take charge of your new life with Him? He’s the One Who can give you His kind of love and power you need every day to start building and enjoying the close, happy family you want. Just Think a Minute…

Bunye... from page 4

On the matter of enhancing public-private partnership, let us hear it from Oscar I. Violago.

Violago graduated in the middle of the pack when we graduated from Ateneo Loyola in 1964. But Violago’s credentials in terms of successful implementation of public-private initiative are just awesome. After all, he is credited with having put together the US Dollar 680 million Casecnan Multi-Purpose Power and Irrigation Project, which has resulted in increased energ y pro duc t ion and thousands of hectares in irrigated lands. All these, at no cost to the government!

He has a lit any of suggestions, some of which we reproduce below: “Protect and support our private partners in the implementation by, first and foremost, not changing the rule in the middle of the game. We must honor contracts.

“Cut the red tape. DENR officials have too much Republic of the Philippines Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City RODRIDO/ELAINE MIOLE CASE NO. 2017-10-859

(2007-10-849)

NOTICE OF HEARING

APPLICANT(s) PETITIONER(s) request/s authority to Extend the Validity of a Certificate of Public Convenience to operate PUJ dual service on the line: CAGAYAN DE ORO CITY TO MAGSAYSAY MISAMIS ORIENTAL and vice versa with the use of ONE (1) unit/s.

This Application/petition shall be considered by this Board on May 24, 2017 at 2:00 P.M. at this Board on which date Applicants(s) Petitioner(s) shall formally submit his/her/its evidence.

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

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

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

Issued this 12TH Day of May 2017 at Cagayan de Oro City, Philippines.

(Sgd.) AMINODEN D. GURO OIC Regional Director

bwm: May 15, 2017

power to delay. Red tape is temptation for corruption.

Time limits should strictly be enforced. NEDA should act yesterday, not 3-5 years later, making some projects obsolete. No more analysisparalysis. ( Wi t h a p o l o g i e s t o Secretary Dominguez) “Tap PFVR as the head of the economic team. He has done a great job before. Full of experience and wisdom.”

(Note that PFVR was the u lt i mate aut hor of t he B OT arrangements and its various permutations.) “ No f av o r i t i s m . No vengeance. Ever y body equal.

“Government must react ASAP to prevent/reduce backlog.

“G ove r n m e nt mu s t protect and enforce right of way. Pass laws in Congress and Senate that nobody can unduly and unreasonably stop right of way for infrastructures like road right of way, transmission lines, etc.

“Ma ke it a c r i m i na l offense for government officials to give permits to lands needed and already designed for government.”

Violago can not overemphasize the importance of infra spending.

“Proper spending on infracture will bring about so much multiplier effect on our economy. But our infrastructures must be big time (no piece meal), consequential, harmonious and complimentary to each other.”

Note: You may email us at totingbunye2000@gmail. com. You may also “like” us on Facebook at “Speaking Out”.

Doring... from page 4

This is indeed all about raising awareness and making pressure.

Some accuse fossil fuel companies of only surviving thanks to governmental s u b s i d i e s . O i l C h ange International issued a 2015 report that G20 governments provided more than $400 billion (360 billion Euro) per year to fossil fuel production, including some of the world’s most carbon-intensive and polluting ones. Let’s face it: unless governments stop propping up fossil fuel companies, divestment will be limited, even with clean energy becoming ever cheaper. +++ Email: doringklaus@gmail. com or follow me in Facebook, Twitter and Linkedin or visit www.germanexpatinthephilippines.blogspot.com or www. klausdoringsclassicalmusic. blogspot.com

Summit... from page 6

P5.42 billion, as sales of its residential division declined, offsetting growth in the commercial division.

Robinsons Bank Corp. registered revenue growth of 25.4% to P1.01 billion following higher interest income, commission income, and trading gains for the period.

Associated companies and joint ventures brought in P2.4 billion worth of net earnings by equity share, up 11.5% from a year earlier, mainly due to the earnings contribution from Global Business Power Corp, as well as a 6.2% rise in earnings contibution from Manila Electric Co..

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 18 Cagayan de Oro City HOME DEVELOPMENT MUTUAL FUND or PAG-IBIG FUND, Mortgagee,

-versus - SPS. AURORA G. DALAPAG married to LEONARDO M. DALAPAG,

EJF FILE NO. 2017-176 FOR: EXTRA-JUDICIAL FORECLOSURE OF REAL ESTATE MORTGAGE

Mortgagors, /- - - - - - - - - - - - - - - - - - -/ Upon extra-judicial petition for sale under Act 3135 as amended, filed

by Home Development Mutual Fund or Pag-ibig Fund, Mortgagee, with branch office located at Pag-ibig Fund Bldg., J. R. Borja St., Cagayan de Oro City, against AURORA G. DALAPAG married to LEONARDO M. DALAPAG, Mortgagors, with postal address at Lot 14 Block 16, PSD104305-017450, Vista Grande Subd., Carmen and Pagatpat, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of March 10, 2017, amounted to ONE MILLION THREE HUNDRED FIFTY NINE THOUSAND THREE HUNDRED NINETY FOUR PESOS and 13/100 (Php1,359,394.13) Philippine Currency, representing the principal, the undersigned Sheriff will sell at public auction on June 2, 2017, at 9:00 a.m. to 4:00 p.m. at the Regional Trial Court, Branch 18, Hail of Justice (City Tourism Hall), Cagayan de Oro City, to the highest bidder for CASH and in Philippine Currency, the following property described below including all existing improvements found thereon, to wit: Transfer Certificate of Title T-181671 A PARCEL OF LAND (Lot 14, Block 16, Psd-104305-017450, being a portion of Lot 3017-B, Psd-10-000818), situated in the Barrio of Carmen Pagatpat, City of Cagayan de Oro, Island of Mindanao, containing an area of ONE HUNDRED TWENTY (120) SQUARE METERS, more or less.

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

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

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

Cagayan de Oro City, May 2, 2017.

FOR THE EX-OFFICIO PROVINCIAL SHERIFF

BWM: May 8, 15 & 22, 2017

(Sgd.) NIZA P. TACANDONG Sheriff IV

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