BusinessWeek MINDANAO Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

Volume IV, No. 105

Market Indicators

As of 5:56 pm may 22, 2014 (Thursday)

FOREX

PHISIX

US$1 = P43.66

6,830.58 points

12 cents

X X Briefly 68.20 points

Hydro plant A 68-megawatt (MW) hydropower project of Aboitiz Power Corp.’s (AboitizPower) unit is expected to proceed this year, the listed parent said in a disclosure last week. “Hedcor Bukidnon, Inc. is currently undertaking feasibility studies of Manolo Fortich, which is composed of the 43-MW Manolo Fortich 1 and 25-MW Manolo Fortich 2,” AboitizPower’s latest quarterly report read. Hedcor Bukidnon, according to AboitizPower, has already executed memoranda of agreement with local governments for the project. “It is currently completing the permits and licenses until the end of May 2014, after which a 24-month construction period will follow,” the report said further.

Food terminal CHEAP and fresh agricultural products of farmers from Cagayan de Oro and nearby areas are now sold at the Westbound Terminal and Public Market in barangay Bulua, Cagayan de Oro City with the launching of the Food Terminal Project of the Department of Agriculture (DA) and the City Government. City Mayor Oscar Moreno, together with Roxanne Hojas, technical director of the Department of Agriculture 10; city agriculturist Dr. Hector San Juan and WTPM manager Honorio Diputado, led the formal turnover of the Food Terminal on May 20, including P1 million worth of equipment from DA. Mayor Moreno assures to develop and improve the city’s agricultural sector as he vowed to hasten up access of farm-to-market roads in order to give farmers easy transport of farm products and produce to the markets.

www.businessweekmindanao.com

P15.00

Friday | May 23, 2014

Rural banks merging ahead of integration

D

By CARMELITO Q. FRANCISCO Correspondent

AVAO City -- Consolidations and mergers among rural banks are expected as they prepare to compete with those of other countries under the Association of Southeast Asian Nations (ASEAN) economic integration next year. At the Rural Bankers Association of the Philippines’ (RBAP) national convention, w hich op ene d here on We dnes d ay, C huchi G. Fonacier, supervision and e x am i nat i on m anag i ng director of Bangko Sentral ng Pilipinas, said several rural banks have been negotiating lately to consolidate or merge. “There is an appetite for that. They have recognized that they need to strengthen their financial conditions for them to be able to compete,” Ms. Fonacier told BusinessWeek Mindanao on the sidelines of the two-day event.

She said rural banks must be creative so they can provide products that are needed by their communities; there is no single template that the banks need to follow because the areas served are diverse. “It is always a challenge to tap the market, so they must come up with products that suit the places where they are,” she said. Ms. Fonacier added that there are about 10 small banks now that are in discussions on possible mergers and consolidations but declined to name any of them, in order to not pre-empt negotiations. merging/PAGE 7

Gov’t assures Mindanao power sufficiency by 2016 By ADRIANA CRISTELLE L. PAGDANGANAN Contributor

THE government is optimistic that the power supply in Mindanao will be sufficient by 2016 as it is now working on the repair and rehabilitation of the Agus-Pulangi hydroelectric power plant to address the power shortage. Secretary Luwalhati R. Antonino, chairperson of

Mindanao Development Authority (MinDA), in a press conference on May 21 here, said the project amounts to P4.5 billion. “Now we all know what President Aquino always says that the planning and rehabilitation of power generation will take a long Power/PAGE 7

RITE OF MANHOOD. A government health worker holds on a kid who is in pain during a circumcision procedure. The city government of Cagayan de Oro conducts annual Operation “Tuli” or circumcision every summer. mindanews photo by froilan gallardo

CdO hosts multi-sectoral meeting on energy issues By CRIS DIAZ of Mindanao Daily News

THE Cagayan de Oro City council’s energy committee has invited civic groups, people’s organizations and media to a meeting on power

crisis in this trading hub of Northern Mindanao today, May 23. City Councilor Teodulfo Lao, Chair of the Committee

o n E n e r g y, s a i d t h e stakeholders will discuss the current power situation and continued rotating brownout that pestered this seaport capital for months. Issues/PAGE 7

PVB inaugurates GenSan branch GENERAL Santos City Philippine Veterans Bank (PVB) continues to be optimistic on the economic growth of General Santos City that it has recently relocated its local branch signifying its commitment to remain a steadfast financial partner of the city government, local businesses and the local populace. With the bank’s new location at the Tri-Star Building along Santiago Boulevard just a few meters from its old site, PVB has made itself more convenient and more comfortable to its clients in the area, especially pvb/PAGE 7

NEW LOCATION. The Philippine Veterans Bank (PVB) General Santos City branch has just transferred office at Tri-Star Building along Santiago Boulevard. The inauguration of it’s new location was led by PVB President/CEO Joey Bermudez, PVB Director Percianita Racho, EVP & Branch Banking Group Head Jesus Vicente Garcia along with General Santos City Mayor Ronnel Rivera and Sarangani Provincial Governor Steve Solon.

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

BusinessWeek MINDANAO

2

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

Economy

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

Your initiatives must benefit the people

More commitments in conflict-affected areas delivered

citing the IT-BPO sector, manufacturing, and a robust domestic demand as among the major drivers of the economy. The President also told Asean businessmen that his government is fully committed to ser vice a revitalized economy, and a p e ople wit h rene we d optimism and desire to take part in nation-building. The Ayala Corp. is hosting nearly 50 delegates of the Asean Business Club in the Philippines, which coincides with the World Economic Forum on East Asia being held in the country. T he As e an Bus i ne ss Club is an association of the chief executives of Asean’s biggest business enterprises that are committed to the advancement of the Asean agenda. benefit/PAGE 6

THE Department of Agriculture now started to deliver its commitments to conflict-affected areas (CAAs) in Mindanao. The commitment was made during Secretary Proceso J. Alcala’s visit in Kauswagan, Lanao del Norte, last year, for the rebel returnee projects. Worth P446,700 livestock projects were initially provided for the towns of Kauswagan and Munai, Lanao del Norte. A total of 11 head of carabaos amounting to a total of P272,800 were given to eight recipients from Kauswagan, namely, Zapra Paco, Nasser Limbona, Norolai Diamkuta, Camar Ma, Subaira Polangi, Rocky Sultan, Metodio Canoy and Ibrahim Alaan. Meanwhile, three head of carabaos were given to Arab Lucsanato, Carim Maute and Abobakar Balowa from delivered/PAGE 6

PNoy to Asean business leaders:

POLITICAL and business leaders must draw inspiration from the people and always bear in mind their welfare over the long term, President Benigno S. Aquino III said

on Wednesday. Leaders must realize that their success relies on the people and the communities they serve, the President told members of the Asean

Business Club (ABC) during their courtesy call at the Palace. “These are the very same truths that have ignited the resurgence of our country,” he said. He noted that whenever his administration is lauded for the progress the country has made, he is always quick to say that the transformation of the Philippines is “a collective a c h i e v e m e nt , b u i l t o n the shoulders of a people prepared to undertake the difficult task of reform together.” He recounted that the country’s transformation b e g an i n 2 0 1 0 , “ w h e n F i l ipi no s to ok a st and against corr uption and impunity, giving the present administration the mandate for change—a mandate aimed at eradicating

corruption and fostering inclusive and equitable growth.” The administration’s thrust, he said, is massive investments in the people t hroug h ski l ls t raining and e du c at ion , he a lt h , and social services, as well as enhancing the state of national infrastructure. The commitment to good governance has already b orne f r uit, as evidenced by the country’s st rong ma c ro e c onom i c fundamentals and the recent credit-rating upgrades by a l l t hre e maj or cre ditrating agencies, placing the Philippines at investment grade or higher, he added. “No longer are we the ‘Sick Man of Asia.’ We are now Asia’s bright spot—a v i a b l e d e s t i n at i o n f o r investments and tourists,” President Aquino said,

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

CorporateWorld

AirAsia Zest expects doubling of passenger traffic this year KUALA LUMPUR - AirAsia Zest expects to double its passenger traffic this year as it focuses on the northeast Asia market. Joy Caneba, the newlyminted chief executive of AirAsia Zest said the budget carrier is aiming for a 5.5 million passenger traffic this year, up from last year’s 2.6 million. Caneba said growth this year would be driven by the airline’s international destinations. “We are really targeting the Koreans, Japanese and Chinese markets. My strategy is to bring more inbound traffic,” she told reporters flown here from Manila.

Data from the Department of Tourism show that the number of Korean visitors to the Philippines rose by 13 percent to 1.17 million last year from 1.03 million in 2012. Japanese visitors stood at 412,474, while those from China, 426,352. At present, AirAsia Zest flies to China and South Korea and serves domestic destinations like Kalibo, Puerto Princesa, C ebu, Tacloban and Tagbilaran from its hub at the Ninoy Aquino International Airport Terminal 4 (NAIA 4). The airline has 16 aircraft. A i r As i a P h i l ippi n e s holds 49 percent stake in AirAsia Zest after signing an

The hydro power projects involve a 500-MW plant in Rodriguez, Rizal, ($873 million); a 160-MW facility in Davao City ($390 million); a 240-MW plant in Tabuk, Kalinga ($680 million); and a 312-MW facility in Lawaan, Eastern Samar ($566 million). These plants will source water requirements from Wawa Dam, Davao River, Chico River and Bolusao River, respectively. They are intended to provide additional power to consumers of various electric cooperatives and distribution utilities operating in the areas. Anthony C. Violago, SLRB chief operating officer, said two projects are expected to push through this year. “We are starting with the Samar and Wawa project this year. We will have the groundbreaking

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

3

RESORTS, HOTEL & RESTAURANTS DIRECTORIES

A PUBLIC SERVICE BY:

BusinessWeek MINDANAO Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

agreement with Ambassador Alfredo Yao, the owner of Zest Airways Inc. in March 2013. AirAsia Group owns 4 0 p e rc e nt of A i r As i a

$2.5B earmarked for hydro power plants SAN LORENZO Ruiz Bui lders & D e velop ers Group, Inc. (SLRB) plans to invest $2.5 billion to develop four hydro power projects in the next four years, the firm’s top official said yesterday. The company -originally engaged in property development -plans to build plants with an aggregate capacity of 1,212 megawatts (MW), said Oscar I. Violago, SLRB president and chief executive officer. “We really intend to start the projects this year because there is power crisis. So we want to come in immediately and help,” Mr. Violago said in a briefing in Makati City. “It will take three to four years to complete them so we expect 2017-2018 for them to be operational.” The company is still in the process of securing some permits for all four projects.

BusinessWeek MINDANAO

but in the meantime, we will be arranging the project financing,” the younger Violago said. SLRB tapped BD O Capital & Investment Corp. as financial advisor for the projects. “We’re helping them as the advisor and we are ver y opt imist ic about it. We will arrange the f inancing and help them select partners,” BDO Capital President Eduardo V. Francisco said. “What we want to choose the partners for each project because the strategy is a different partner for every project.” Mr. Francisco said BDO Capital is looking at both local and foreign lenders to finance the projects. “We will look into the financing structure. The debt market is very robust. We will get support from both local and foreign,” said Mr. Francisco. hydro/PAGE 6

Philippines, while Filipino bu s i n e s s m e n Mar r i an e Hontiveros, Michael Romero, Antonio Cojuangco and Alfredo Yao hold the remaining 60 percent.

TKC Steel ends 1Q in the red on China slowdown, Mindanao power crisis TKC Steel Corp ended the first quarter in the red on account of the slowdown in China and the power shortage in Mindanao. In a financial report, TKC Steel said it incurred a loss of P56 million in the January to March period, an improvement from the P112 million loss in the same three months of last year. The company blamed its subsidiaries’ reduced sales for the loss. TKC Steel’s unit ZZS Stronghold, which is based in China, registered an 85 percent decline in sales “due to slowdown which was offset by a lower production cost resulting to a positive gross margin.” Another unit, Treasure Steelworks, which operates a steel plant in Iligan City, suf fered an 87 percent crisis/PAGE 6

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

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

LAMBOMISAMISORIENTAL. Governor Yevgeny Vincente B. Emano is prayed over by the members of the Assembly of God Church-ALEMA during their annual youth camp at Poblacion, Alubijid. Church members were thankful to the Governor for his support to their undertakings and to the youth. #LamboMisamisOriental

Ridge View Chalet 8588946 / 8587946 Fax: 8588946

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

BusinessWeek MINDANAO

4

Opinion

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

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

How should the gov’t address BusinessWeek the Mindanao power problem? MINDANAO 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

They’ll Feast At Your Funeral

T

hink a minute… When you decide to do something, whose opinion do you think and care about the most? Do you simply do what you know is right, or do you first consider what other people might think about you? What will your neighbors or people you wor k w it h t h i n k ? You r family and f riends? Do you realize that when you die, except for your closest family and friends, most people will not even be sad enough at your funeral to lose their appetite! Those same people whom you now try so hard to impress and please are going to feast at your funeral. Yet, we often neglect and hu r t ou r ow n w i fe and children, the people who truly love us, because we tr y so hard to please and impress others. But t he g re ate st t r age dy of all is that we seem to care the least about what G o d t h i n k s o f u s . We almost seem to have no shame or fear of God and His opinion of us. Even though at the end of our l i fe , it’s on l y w h at ou r Maker thinks of us and w h e t h e r w e h av e t r u l y live d His way t hat w i l l

THINK

A Minute

By Jhan Tiafau Hurst

Long-term and sustainable solutions are needed to address the wors ening p ower crisis in Mindanao as we can no longer rely s olely on hydrop ower for electricity needs. Our island is heavily dependent on hydropower for its electricity re qu i re me nt s w it h 7 0 % b e i ng s ource d f rom hydro faci lities, including the Agus and Pulangui hydropower plants. However, this cannot be sustained because we have deforested our watersheds. Our river systems are silted, and what we have are aging power facilities. The summer heat nowadays have only worsened the situation The present administration is hoping that with the acquisition of modular generator sets the power supply deficit will be solved. But this is only a short-term solution. We h a v e r o t at i n g b r o w n o u t s because our power deficit is at 300 megawatts. How can we best maximize the

capacities of the government’s remaining assets in Mindanao, including Agus and Pulangi hydropower plants? Some sectors suggest that we need to stop the intentional decay of these facilities, because the government will only sell them at a “give-away” prices to the private sector. Think-tanks say that there is a long term solution and this is tapping renewable energy sources. Mindanao’s economy is agricultureintensive. We can harness the agricultural wastes of Mindanao to fuel biomass facilities. Hydropower, g e o t h e r m a l , a n d bi om a s s a re now competitive with the cost of conventional energy sources. They are cheaper than the dieselfired power facilities and power barges that the government are mobilizing to address the power crisis of Mindanao. Another is the proposed Lake Lanao Development Authority. One established, this Authority is

hoped to carry out effective policy and regulator y administration over L ake L anao to ensure its promotion and development in a sust ainable manner. It may address the problems of worsening deforestation of watersheds, and the siltation of river systems. These are among the reasons why the power supply in the island has become erratic. The continued deterioration of Lake Lanao has affected the supply of water from the lake for six of Mindanao’s existing hydroelectric p ower plants, including Agus. In the surrounding provinces of Bukidnon, and ARMM region, it is public knowledge that deforestation still continue. Forests are logged by loggers with approved government permits. May the Authority be able to check this. Lets not wait for our mountains to completely go bald. Reforestation is a long term solution but it can give a reprieve to the depleting hydropower sources.

Helping Hands

O

n d ay, af te r s up e r t y pho on “Yol and a” s l a m m e d i nt o E a s t e r n Visayas, I received a phone call from the German TV news channel N24 in Berlin to deliver some live reports, because during that time I was the only “available German journalist” in this countr y. Since that day, “Yolanda” and all news about it remain as daily part of my journalistic work. Fact is: the rehabilitation work goes on; life is “somehow back”, but many international organizations pledged more supp or t for rebui lding

efforts as they noted some encouraging signs of recovery in areas hit by “Yolanda”. They also acknowledged the massive scale of work ahead and the remaining gaps in the response to the crisis, lapses that even the government’s rehabilitation czar had publicy admitted. The UN, ever so diplomatic, described the situation in the typhoon zone “as fragile”. There are still many helping hands needed. One of these angels is German national Andreas Engelhardt, who contacted Mr. Ulrich

Behmann from the German NGO Interhelp Hameln, which prepared already a Medic Rescue Team during that time. Interhelp financed several projects in Cebu, Ormog, Tacloban and Guiuan, Ilo-Ilo, Paola and Gapas/ Santa Fe and worked very well together with a rescue team from Manila under the leadership of Mr. Peter Negrido. 32,000 EUROS have been donated for these projects. Maraming salamat po and God bless. The next projects of Andreas Engelhardt and

H ave M y Say

By Klaus Doring

Interhelp/G er many are planned for Ilo-Ilo, Estanzia: Helping to take matters and a youth village in Davao City.

A Very Exciting Thing

I decide where and how we live forever: in heaven or hell. God the Son even b e c ame a hu man b e i ng named Jesus Christ to die for a l l ou r w rong s and then come back to life, just so we could know how much our Creator loves us. Jesus c ares more ab out y ou t h an any on e d o e s ! Esp ecially those p eople you and I tr y so hard to please—those people who will feast at our funeral. So if we’re smart, we will stop living to please other p e opl e and st ar t l iv i ng Jesus Christ’s way to please Him. Always remember, at the end of your life it is only what Jesus your Judge will think of you t h at c an s ave you. Ju st Think a Minute…

”m referring to prayer. If it’s authentic prayer that we do, then we can only experience joy and excitement. That’s precisely because when we truly pray, we are talking with God. And can there be any other person more exciting to talk with than God himself? Can there be any other person who can give us what we really need? Besides, if our prayer i s g e nu i n e , w e w o u l d be touching on the most important and relevant topics and issues in our conversation with God. Nothing else can outrank the subject matter of our prayer. Whatever riveting human projects and concerns we have would end up being part and parcel of our loving dialogue with God. What is more, when we truly pray, we can always manage to see the meaning and beauty of everything. Even in our darkest moments or our worst scenario, we can always find the light at the end of the tunnel.

This is quite so especially when we realize the true spirit of Easter, that is, Christ conquering sin and removing the sting of death with his passion, death and resurrection, and sharing this Easter renewal with us if we want to. That’s why we can always say without exaggeration that there’s always hope for us in spite of whatever. We need to examine the way we pray. Very often, what we call prayer is actually not prayer, but simply some kind of personal introspection, a s or t of s olilo quy, or otherwise, a mere play or expression of the emotional and psychological condition we find ourselves in a given moment. We have to be most careful when we fall into this predicament that can come to us in a very subtle way, because sooner or later we will find ourselves confused if not lost, deceived and completely deprived of any

benefit. We will find ourselves tricked and losing for good any interest in prayer. Obviously, prayer can involve all these, but what makes real prayer distinctive is that it is driven by faith, hope and charity, and not just by human or natural factors or conditions. Genuine prayer transcends our bodily and earthly settings. It is a spiritual and supernatural activity, first of all, before it expresses itself in our material and natural dimensions. It is fuelled by faith, hope and charity rather than by our mere sentiments and human understanding or estimation of things. Our beautiful manifestations of popular piety where we pray with showy public expressions like making novenas, staging processions, kissing, dancing and waving at images would be hollow if this basic property of prayer as primarily a spiritual and supernatural activity would be missing.

HINTS

and

Traces

By Fr. Roy Cimagala

If we pray as we should, then we allow God to come to us and to engage us in a true discussion of things. It would be God, more than us, showing us how things ought to be. In a way, prayer is actually an easy thing to do, precisely because of this. When we complain that we find prayer boring or empty or something that would lead us to some sad, depressing or inconvenient episodes, it can only mean that we are not actually cimagala/PAGE 6

BusinessWeek MINDANAO

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

Banking&Finance OROBANKERS Moody’s raises ratings DIRECTORIES outlook on PNB, RCBC BusinessWeek

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

5

CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

MOODY’S Investors Service has raised its ratings outlook on the Philippine National Bank (PNB) and the Rizal Commercial Banking Corp. (RCBC) on prospects the two banks will boost their profitability and financial health. In a press statement, Moody’s said that it has changed the outlook for both banks to “positive” from “stable.” Moody’s currently rates PNB’s local and currency deposits Ba2/NP, ratings it said it affirmed. “Give n t h e p o s it ive outlook on PNB’s deposit ratings, an upward revision of its BCA would likely lead to an upgrade of its ratings, assuming that its credit

metrics remain robust,” it said in a statement. But the ratings firm raised PNB’s bank financial strength rating (BFSR) to D- from E+ and baseline credit assessment (BCA) to ba3 from b1 “to reflect the improvement in the bank’s financial profile, following the merger with Allied Banking Corp.” The revised rating for PNB is now comparable to regional ba2 and ba3 peers, Moody’s said. “The positive outlook on PNB’s Ba2/NP foreign currency deposit ratings re f l e c t s . . . e x p e c t at i ons that further improvements in [the bank’s] financial performance will likely bring its credit profile in line with

the industry average over the next 18-24 months,” the ratings agency said. “ I n p a r t i c u l a r, i t s profitability and asset quality are expected to improve as a result of the completion of the integration process,” Moody’s explained. RCBC’S STRONGER CREDIT PROFILE Meanwhile, the ratings agency said that its positive outlook on RCBC’s Ba2/NP foreign currency deposit r at i n g s w a s b a s e d o n expectations that RCBC will continue to improve its credit profile, “especially once it is able to implement its capital raising plan.” RCBC announced last week that its bid to issue P10 billion in Basel

3-compliant Tier 2 notes has been approved by the Bangko Sentral ng Pilipinas. The outlook on RCBC’s D - st an d a l on e B F SR equivalent to a ba3 BCA was also revised to positive from stable. RCBC’s capital buffer is also better, according to Moody’s, allowing RCBC’s overall credit profile to “become comparable to other ba2 and ba3 regional peers.” “[RCB C ’s] ability to implement its capital raising plans and maintain capital levels above the minimum capital requirements under Basel III will be key to its ability to support its business growth targets,” Moody’s said.

BPI to defend turf with Union Bank profit falls 61.5% looming Asean integration U N I O N B a n k o f t h e period a year ago. BANK of the Philippine Islands (BPI) is focusing on defending its turf with the impending start of the Asean Economic Community. In a briefing last night, BPI president Cezar Consing said the lender plans to secure its dominance in the domestic market because the Philippines has the strongest macroeconomic fundamentals among the countries in Asean.

“No offense to any other country in Southeast Asia [but] we think the Philippines is providing very good macro. We’re a Filipino bank and we know the market so we’d like to take advantage of this market first but that doesn’t rule out looking elsewhere,” Consing said. Consing said there is room for local banks to grow organically since nearly 80 bpi/PAGE 6

Philippines posted a 61.5 percent fall in net income to P1.54 billion during the first three months of 2014 from the P4.00 billion earned in the same period last year due to lower trading gains. In a disclosure to the Philippine Stock Exchange, the bank said its total interest income improved by 14.20 percent to P3.66 billion for the three months ending March 31, 2014 from P3.20 billion recorded in the comparable

Interest income on trading and investment securities and due from other banks were up by P0.21 billion each to P1.10 billion and P0.42 billion, respectively, supported by higher average levels on these investments. C onve rs e ly, i nte re st income on interbank loans receivable went down by P0.0002 billion to PP0.003 billion as the increase in average levels on these profit/PAGE 7

SP COMMITTEE ON EDUCATION TO INQUIRE ON CLOSURE OF BUKIDNON STATE UNIVERSITY’S EXTERNAL STUDY CENTERS IN MISAMIS ORIENTAL MISAMIS ORIENTAL – The Committee on Education of the Sangguniang Panlalawigan of Misamis Oriental chaired by Vice Governor Joey G. Pelaez will conduct a Public Hearing on the recommendation of the Chairperson of the Commission on Higher Education (CHED), Dr. Patricia B. Licuanan, to close all Bukidnon State University – External Study Centers (BSUESC) in the different municipalities of Misamis Oriental. The closure of the ESCs was pursuant to CHED-CEB Resolution No. 507-2013 Ordering the Outright Closure of Bukidnon State University’s External Study Centers (BSU-ESC) for noncompliance with CMO27 Series of 2009 and the Program Standards and Guidelines for its degree offerings. In its letter dated 19 March 2014, CHED cited problems on some DepEd teachers who were made to teach in the ESCs degree programs. They allegedly have been overloading, cutting class time, having decreased efficiency, or teaching without the permission from their Schools Superintendents. CHED Chairperson Dr.

Patricia Licuanan recommended to the Department of Education (DepEd) Secretary, Br. Armin A. Luistro, FSC to stop lending DepEd facilities to tertiary programs effective June 2014 and to regulate the involvement of DepEd officials and faculty members in the operation of degree programs by ESCs. Invited resource persons are Dr. Patricia B. Licuanan (CHED Chairperson), Atty. Alberto T. Muyot (DepEd Undersecretary for Legal and Legislative Affairs), Dr. Zenaida G. Gersana (CHED X Regional Director), Dr. Ingrid G. Racoma (DepEd X Regional Director), Dr. Cherry Mae L. Limbaco (DepEd MisOr Division Superintendent), Dr. Myrna T. Castaños (DepEd Gingoog City Division Superintendent), Dr. Victor Barroso (Bukidnon State University President), Center Administrators of the different BSU-ESCs in the different municipalities of Misamis Oriental and BSU-ESC Student-Leaders. The local chief executives of the municipalities where ESCs operate, namely; Mayor Rey Buhisan (Magsaysay), Mayor Marie Guingona (Gingoog City), Mayor Ken Uyguangco

MINDANAO

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

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 – 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

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

Vice Governor Pelaez said that this is a matter of great importance and urgency as it involves the education of thousands of young people of the province who will be affected by the CHED recommendation. The Committee on Education is set to meet on Friday, 23 May 2014 at the Philtown Hotel in Cagayan de Oro City at 1:30 PM.

PLANTERS DEVELOPMENT BANK

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

CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844

(Medina), Mayor Rommel Maslog (Talisayan), Mayor Jerome Lagbas (Sugbongcogon), Mayor Romeo Gue, Sr. (Salay), Mayor Alvin Labis (Alubijid), Mayor Leonardo Uy, Jr. (Libertad), Mayor Enerito Acain, V (Initao) and Mayor Roberto Lagrosas (Manticao) were also invited together with the SB Members who are Chairs of their respective Committee on Education.

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558

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

CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059

VICE GOVERNOR JOEY G. PELAEZ is the Chair of the Committee on Education of the Sangguniang Panlalawigan of Misamis Oriental.

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

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

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

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

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

Benefit... from page 2

Apart from the courtesy call, the ABC members also met with the President’s economic team in a roundtable discussion. The regional business organization is a private sector-derived initiative of

the Asean’s leading businesses that brings leaders together to understand and help shape the growing connectivity among Asean economies. The group organizes opportunities for the business and government sectors within the region to discuss effective measures in enhancing Asean integration.

Delivered...

sales by 77 percent to P59 million from P256 million from page 2 last year. Besides this, TKC Munai, Lanao del Norte worth Steel also brought down its operating, finance and income P24,800 each. The turn over ceremony tax expenses, helping trim its was held last month in losses in the first quarter. Kauswagan and Munai Lanao del Norte. Five packets of goat from page 4 consisting of one buck praying. We may just be and four does per packet talking with our own selves, and one packet of sheep and allowing our human consisting of one ram and conditions at a given moment four ewes per packet were to completely dominate and also distributed earlier to rule us. the same municipalities with Obviously, to pray as we different recipients. (Charisse should we have to do our Salarda, DA RAFID-10) part to purify ourselves of some conditions that would impede us to talk and listen from page 3 to God, and to enter into a He said f inancing -- loving conversation with him. which could involve a 70- This is where we have to feel 30 debt-equity structure the need for mortification, for -- is expected to be finalized self-denial or self-emptying as within the year. Christ himself underwent to SLRB’s maiden project was be in synch with his Father’s the $680-million Casecnan will. In short, we cannot multi-purpose project, which pray without mortification has been providing 150 MW or sacrifice. and irrigation to Nueva Ecija If our main motive for since 2001. prayer is to seek relief of our problems and burdens CAGAYAN DE ORO MAIN BRANCH but atP &the time neglect J Limsame Bldg., Tiano Brothers Kalambagohan Sts., from page 3 to purify we Tel. #ourselves, (08822) 727-829 then * Telefax # (088) 856-1947 reduction in revenues as a most likely will end up not CAMIGUIN BRANCH result of the power crisis in praying. We may go through B. Aranas St., Poblacion, Mambajao, Camiguin Tel. #of (088) 387-0491 but Mindanao. ZZS manufactures the motions praying, CORRALES steel pipe products in China, that prayer willBRANCH definitely be Corrales Ave., Cagayan de Oro City while TSC produces steel fruitless. DIVISORIA BRANCH billets. Atty.That may Erasmoprayer B. Damasing Bldg., produce #61 Don A. Velez St., Cagayan de Oro City O vera l l, TKC Ste el’s some temporary relief, but Tel. # (088) 857-3631 consolidated revenues fell unless rectified and purified, LAPASAN BRANCH Hi-way, Cagayan de Oro City by 71 percent to P57 million theLapasan reliefTel. will not last long and # (088) 231-6739 from P198 million in 2013. can even be dangerous to us, CARMEN BRANCH Vamenta Blvd., Cagayan City we The company, however, since it would not de beOro God Tel. # (088) 231-2011 was able to reduce cost of would be dealing with, but

Cimagala...

Hydro...

something else, perhaps even an evil spirit that disguises itself as a good one. Christ himself shows us how to pray. He fasted, he went to a secluded place, he spent the whole night praying. With the parable of the Pharisee and the publican in the temple, he tells us humility is essential to be able to pray.

BPI...

from page 5

percent of the population is unbanked and bank loan to gross domestic product (GDP) ratio remains one of the lowest in the region. GDP refers to gross domestic product, which is the amount of final goods and services produced in the country. “Banks could do very well just banking the people that are presently unbanked. With economic growth, as per

capita income grows, more people will be bankable,” Consing said. He said BPI will take an opportunistic approach to acquisitions. “ The fact is we can’t base our growth plans on the willingness of another party to do something with us. We have to assume those opportunities may or may not come. We can’t control what we can’t control and what we can control is organic growth,” he said. Ay a l a - o w n e d B P I previously eyed Lucio Tanled Philippine National Bank, but merger talks fell through in December 2012. The merger would have created the country’s largest bank, overtaking Henry Sycontrolled BDO Unibank Inc and George Ty-owned Metropolitan Bank & Trust Co.

Crisis...

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

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

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

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

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

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

BusinessWeek MINDANAO

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

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

Merging... from page 1

The country’s central bank has come up with the Strengthening Program for Rural Banks program, which provides incentives to those that would merge or consolidate. Launched in 2010, the program encourages rural banks and thrift banks to merge with bigger banks or be acquired by major thirdparty investors. The program provides incentives to those involved in the transactions in terms of relaxed capital and possible preferred share, or loans from the Philippine Deposit Insurance Corp. The program is set to end by the end of the year. Ms. Fonacier said rural banks must also be able to improve their risk management systems so they can compete with similar enterprises in other countries within the ASEAN. She said the industry must prepare for the integration in order to compete for the 600-millionstrong consumer market in the region. In order for the rural banks to compete, Ms. Fonacier said there is a need “for stakeholders to make necessary adjustments” in running their banks. “It is really in the risk management system that [poses difficulty] and their governance [mechanisms],” she added. Vittorio Z. Almario, RBAP

president, told BusinessWeek Mindanao that memberbanks have been looking at mechanisms to improve their systems, particularly in addressing risks because of low capital. “We keep on improving our systems so that we will be able to compete, not just with others that may come in but also with other institutions that offer similar products,” Mr. Almario also said.

Power... from page 1

time; at the minimum of three to four years,” Antonino said. The chairperson also stressed that there will be a 300-megawatt power supply by 2015 or at the last quarter of 2014. As to the rotating brownouts, Antonino attributed such occurrence to the shutting down of the (STEAG) plant which lost its 210-megawatt capacity. However, a 105-megawatt power supply has already been acquired by the National Grid Corporation of the Philippines (NGCP) and another 105-megawatt is expected to be loaded in June. MinDA further said that the slow regulation of power supply is also a measure against the onset of the El Niño weather phenomenon. “We have to take care dahil meron pong prediksyon na magkakaroon ng El Niño and mas dangerous po ‘yung maging below critical level kasi hindi na po tatakbo

yung ating turbines,” said Antonino. MinDA also received a lot of economic concerns from a number of investors which encouraged them more to take action on the need for power supply. Nevertheless, Antonino assured that by 2016, the power will be sufficient for Mindanao.

not, to protest the proposed new power rate adjustment here,” a resident who want his name withheld said. Lao said the city’s energy committee has also invited the National Power Corporation, National Grid Corporation of the Philippines (NGCP), and representatives of the CEPALCO, the lone power distributor here. (PNA)

from page 1

PVB...

“The continued rotating brownouts and the power c ur t ailment supply are disturbing that annoyed both the ordinary citizen and the local business community here,” Lao said. He said that during the meeting, the city’s energy committee would create a committee that would study and review the applications of the Cagayan De Oro Electric Power and Light Company (CEPALCO) for a new power rate adjustment here. CEPALCO has applied a new power rate adjustment in Cagayan De Oro City with the Energy Regulatory Commission (ERC). The City Council through Resolution NO. 11685-2014 has authorized the creation of the energ y’s Ad Hoc Committee tasked to tackle issues of power and energy in the local community, Lao added. “It is but fair for the local residents and all other interested parties to exercise their rights to scrutinize, if

from page 1

the hundreds of World War II veterans who draw their old-age pensions from the bank. The bank is also a d e p o s itor y of t he C it y Government and benefits f rom t he unique LGUfocused services that only PVB offers. In addition, the bank believes that it can continue to generate more business from GenSan’s agro-industrial and tuna fishing sectors especially now that PVB offers innovative products and services that will help local businesses manage their finances. With its newly-relocated branch, the bank hopes to spread the word that a revitalized PVB is emerging following the new leadership that have taken helm last year led by its former Philippine Finance Secretary Roberto de Ocampo, OBE who has assumed chairmanship of the bank; along with seasoned banker Joey Bermudez as its President and CEO.

Issues...

Along with the rest of the management and staff of the bank, Chairman De Ocampo and Pres. Bermudez hope to make PVB an active player not only in the local banking scene but in the global banking industry as well. To celebrate the rebirth of its GenSan branch, PVB inaugurated the branch with a simple ribbon-cutting ceremony led by the bank president, Mr. Bermudez, PVB Director Percianita Racho and EVP and Branch Banking Group Head Jesus Vicente Garcia along with special guests General Santos City Mayor Ronnel Rivera and Sarangani Provincial Governor Steve Solon. Other PVB officials who graced the occasion included VP and Branch Central S e r v i c e s He a d A l f re d o Santiago, VP and Corporate C om mu n i c at i ons He a d Miguel Angelo Villa-Real, AVP and Branch Expansion Head Jose Francisco Ramos, and AVP and Mindanao Area Head Tranquilino Morante. Veterans Bank is a private commercial bank owned by World War II veterans and their descendants. It has 60 branches nationwide and also caters to private and corporate retail markets. As part of its mandate, Veterans Bank allocates 20% of its annual net income for the benefit of World War II veterans and their heirs through medical and livelihood programs.

Profit...

7

from page 5

investments was outweighed by the decrease in average yields. Total interest expense dropped by 4.92 percent to P1.10 billion this year from the P1.15 billion incurred last year, predominantly due to the decline in interest expense on bills payable and other liabilities to P0.11 billion, resulting from the reduction in average levels and costs of these borrowings. As a result, net interest income rose by 24.95 percent to P2.56 billion this year from P2.05 billion a year ago. The provision for impairment losses amounted to P0.09 billion for the quarter ended March 2014, 50.24 percent higher compared to the P0.06 billion set aside in the same period last year. Tot a l ot h e r i n c om e dropped by 65.94 percent to P1.81 billion this year from P5.31 billion the prior year, principally on account of the P2.95-billion decline in trading gains to P0.42 billion. Service charges, fees and commissions, meanwhile, went up by P0.37 billion to P0.88 billion mainly driven by the strong growth in consumer loans. Premium revenues fell by P0.34 billion to P0.06 billion on decreased pre-need sales of First Union Plans Inc. (FUPI). Miscellaneous income was also trimmed down by P0.59 billion to P0.45 billion largely on lower income from FUPI’s trust fund.

BusinessWeek MINDANAO

8

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

Billboard

CdO developer, BPI and IFC push for environmentally responsible property development

C

agayan de Oro City, Misamis Oriental (May 21, 2014) Amidst the protests by environmental groups against reclamation projects being planned along Manila Bay, a young property developer in Cagayan de Oro sought to strengthen its stand on environmentally sound projects. In the recent Environmental and Social Risk Management training for financial institutions organized by the Bank of the Philippine Islands (BPI) and International Finance Corporation (IFC), Ms. Cheryll Barriga, general manager of Primavera Residences, cautioned the industry against the hazards of irresponsible property developments. Primavera Residences is a 10-story, two-tower mixed-use condo building in Pueblo de Oro Business Park, CdO. Its development was financed by BPI under the bank’s sustainable energy finance program. The training which included a tour of the property’s eco-friendly features was hosted at Primavera Residences’ function hall. According to Barriga, property developers should always consider the impact their projects will have on the physical and social environment. “It is not just the physical surroundings that will be affected when developing projects but the people living nearby as well,” she said. “Will the project affect the livelihood of the surrounding community?

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

Will it cause environmental degradation in nearby areas in the long run? These are pertinent issues that need to be addressed by developers.” The training was attended by account and credit officers of BPI as well as representatives from Primavera Residences. The Environmental and Social Risk Management training sought to be a hands-on learning experience for the participants in terms of environmental and social issues involved in building and managing a green property. “We are very thankful to Primavera Residences for allowing BPI to hold this training for environmental and social risk management here. It is not common for a bank to actually look at the environmental and social side on top of the economic consideration,” said BPI Vice President Jo Ann B. Eala. “We hope that the green initiatives of Primavera Residences here will inspire other real estate developers not only in Mindanao but the rest of the Philippines as well.” Primavera Residences is an internationally awarded property in CdO. It bagged the very prestigious International Property Awards for Best Mixed-Use Development in the Philippines at the Asia Pacific Awards Summit last May 9 in Kuala Lumpur. It was also recognized as a "Most Promising Clean Energy Investment Opportunity" by the Climate Technology Initiative Private

Financing Advisory Network (CTI PFAN) during the Clean Energy Investment Forum in 2010. Energy-saving and energyproducing features are part of the building’s design. The condo property showcases simple design solutions for energy efficiency, such as brise soleil shades that protect the windows from direct sunlight and an inner courtyard that allows air and natural light to come into the building. Soon the rooftop will be fitted with photovoltaic solar panels, which will produce enough energy to power the common areas. “With this lingering power crisis in Mindanao, an energyefficient property is an ideal investment for people looking to minimize their energy consumption and cut down on electricity costs. Our goal is to produce the total amount of energy our residents require,” said Barriga. “Because of all the savings, it really is very practical for both developers and buyers to invest in a sustainable property,” she added. The developer of Primavera Residences is the multi-awarded Italpinas Euroasian Design and Eco-Development Corporation (ITPI). Primavera Residences units are available for rent or purchase and ready for occupancy. For inquiries, visit its website at www.primaveraresidences.com or call (088) 310-8173, 09177921078.

in focus at Mindanao Shipping

Logistics, trade opportunities in focus at Mindanao Shipping Conference

K

ey transport and customs officials, economists as well as supply-chain executives will gather for the Mindanao Shipping Conference 2014 on June 18 at the Limketkai Luxe Hotel in Cagayan de Oro City. Among the topics at the whole-day conference are Mindanao’s shipping and trade prospects; the region’s role in sustaining Philippine economic growth; government’s logistics strategies for Mindanao; the impact of ASEAN economic integration on the transport sector; and Bureau of Customs policies in support of trade facilitation. Delegates will get a chance to participate in highlevel networking with shipping industry executives, manufacturers, importers and exporters. Event organizer PortCalls has invited experts to offer their insights into opportunities Mindanao offers to investors, especially in the area of trade and transport. Heading the list of speakers is Dr. Cayetano Paderanga, Jr., former socio-economic planning secretary, who will discuss Philippine macro-economic prospects for the next three years, as well as his forecast for Mindanao trade. Leon M. Dacanay, Jr., regional director of the National Economic and Development Authority for Region 10, will speak on growth in Mindanao maritime trade, particularly cargo volumes, direction of trade and how shippers should respond. The state of preparedness of the Philippine logistics industry as the economies of the Association of Southeast Asian Nations integrate next year will be the focus of Dr. Adora Navarro, a senior research fellow of the Philippine Institute for Development Studies, as she discusses the benefits and pitfalls of the regional event. From the private sector, Augustus Adis, president, PIE-MO Industries Association, will point out the needs of Mindanao shippers and cargo service providers while Jose Manuel de Jesus, president and general manager of Mindanao Container Terminal (MCT), will discuss technological and systems innovations and container throughput at MCT. Capping the event will be Atty. Agaton Teodoro Uvero, deputy commissioner for the Assessment and Operations Coordinating Group of the Bureau of Customs, who will speak on customs reforms toward greater trade facilitation. Uvero will brief conference delegates on new BOC measures in place to cut red tape, combat corruption and smuggling. Mindanao Shipping Conference 2014 is supported by Smart Infinity (Gold Sponsor); Fast Logistics and Seda Centrio (Bronze Sponsors); and Isuzu (Exhibitor). Conference partners are the Cagayan de Oro Chamber of Commerce, Phividec Industrial Authority, PIE-MO Industries Association, Philippine Exporters Confederation (Region X), and Philippine International Seafreight Forwarders Association. For more information on the conference, email info@portcalls.com.

BusinessWeek MINDANAO

FEATURES

www.businessweekmindanao.com

Friday|May 23, 2014

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?

Section Editor: Shaun Alejandrae Yap Uy

B1

VistaLand brings commerical ventures closer to communities G

by IRENE JOY B. DAYO

ran Europa Village Center’s “City within the City” vision will soon bring commercial and institutional establishments inside the village center.

The construction of a two-storey supermarket is already under way inside Gran Europa, as of this writing. “This project is happening now by Vista Land Commercial Division, a division under the umbrella of Vista Land and Landscapes Inc. The concept is to bring commercial and institutional within the reach of our community,” said Engr. Chrysler B. Acebu, Project Head of Vista Land Commercial Division in Visayas and Mindanao. VISTALAND/PAGE B3

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

BusinessWeek MINDANAO

B2

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

Arts&Culture

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Shaun Alejandrae Yap Uy

Get ‘Chinkee-fied’ at Rodelsa Hall! T

his coming July 11, prepared to “Chink Positive” as Liceo de Cagayan University through the Office of Cultural Affairs bring you a special speaking engagement of one the most sought-after motivational speaker and wealth coach in the country – Mr. Chinkee Tan. Rodelsa Hall becomes a venue of learning on how to manage and create your personal wealth through a half-day lecture with Mr. Tan. This aims to help young people and working professionals on managing their resources and to create a future that is financially worry-free. His personal experiences and challenges growing up prompted him to strive for a better future. This also moved him to share what he has gone through in the hopes of inspiring other people to become the best that they can be. Chinkee Tan is visible on TV and radio with his guest appearances on several national media networks. He also hosts his own radio program in 92.3 NewsFM entitled “Chink Positive”. He is also a contributing writer for the Hong Kong News, Business Mirror and WOW Pinas Magazine. His ventures in life also inspired him to write self-help and motivational books that are currently selling briskly in several book shops around the country. Catch his unique brand of mentoring and witty entertaining in the special lecture, “The Power to Create and Manage Wealth” this coming July 11, 1pm at Rodelsa Hall, Liceo de Cagayan University. Registration Fee is P500 with free book “Til Debt Do Us Part.” You may also see him in the Meet and Greet and Book Signing at the Activity Center of SM CITY Cagayan de Oro at 5:30pm on the same date. For more inquiries call: (088) 8584093 to 95 local 109 or 09989612102.

The Capricho ART Café gallery + cafe concept is quite unique. One can relax over a cup of coffee while surrounded with beautiful artworks by Cagayan de Oro’s premiere artists. On display this month are Nic Aca’s paintings. Location: Rodelsa Hall, Liceo de Cagayan University, RN Pelaez Blvd., Kauswagan, Cagayan de Oro City Photos by Shaun Alejandrae Yap Uy

Accept No Imitations JanSport the Original Since 1967

JanSport®, the original outdoor gear Brand that equips people globally with quality backpacks, travel gear and collegiate apparel, has launched its FALL 2014 collection featuring iconic silhouettes in fresh colors and prints, as well as, brand new styles for the season. After 47 years JanSport still proves to be the top Brand in the backpack industry. Along with the brand’s continued success is its constant battle with the prevalence of inauthentic JanSport bags that are commonly being sold online and through other unauthorized sellers. This problem is not only a concern here in the Philippines but in other countries as well. As such, the brand has launched its global campaign, Accept No Imitations. True to this initiative the JanSport Right Pack, with its leather bottom, is the brands iconic silhouette. It has always been highly coveted by the younger crowd while its timeless appeal continues to make it ideal for those who’ve grown up with the brand.

Characterized by its suede leather bottom, one large main compartment, straight-cut padded shoulder straps, front utility pocket with organizer, and other practical features like the internal sleeve which fits a 15” laptop, web haul handle, and zippered front stash pocket, the Right Pack really is the right pack of choice for everyday use. However, all these features can only be enjoyed when you choose an authentic JanSport pack. Just with the stitching alone, you can already see the big difference between an original JanSport pack and a counterfeit one. Why run the risk of having a faulty bag that will last you for a couple of months when you can get an original JanSport pack for a reasonable price? And this one will last you for years, no matter how much you end up using it. So if you’re already planning to buy a new pack, check out the latest selection of JanSport packs available in authorized re-sellers and remember that JanSport Philippines sells only through accredited e-commerce sites. Always keep that in mind before you

get enticed to buy a JanSport pack for a ridiculously low price on the internet. Be original, support authentic JanSport packs. JanSport Philippines Authorized re-sellers: Bratpack, The Travel Club, R.O.X., The SM Store, Landmark, Robinson’s Department Store, Duty Free Philippines, Gaisano, KCC, Olympic Village, Toby’s, Royal Sporting House, Urban Athletics Wholesalers: Sole Academy Katipunan, Grey One Social Makati, First Modern Sidewalk Zamboanga, SBF Retail IloIlo, Shelves and Hanger Iligan, Urban Superior Cebu, Bujanaid Cotabato, Unica Leica Vigan, Lakbay Tugegarau, Alturas Bohol, My Frenz Place Ilocos, Stand & Stride, Bohol Quality, Sole & Beyond Isabela Online: Lazada and Zalora For more information on JanSport products, visit www.jansport.com. You may also e-mail us through jansport@primergrp,com or follow us on Facebook JanSport Philippines

Photos by Shaun Alejandrae Yap Uy

SM City Cagayan de Oro continues its advocay in bringing arts and culture to its shoppers and the community at large. This summer , a summer art workshop was held to those interested in the visual arts. The Visual Arts Summer Workshop was facilitated by CdeO Artist Rhyan Casiño.

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Shaun Alejandrae Yap Uy

Feature

BusinessWeek MINDANAO Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

B3

CDO to compete in Ultimate Championship Games Story Photos

T

he Cagayan de Oro City ultimate team One CDO is set to participate in Philippine Ultimate National Championships 2014, May 30-31, 2014 at E-Park of Tagum City. The championship will gather 50 teams all over the country, said game coach and Board President of Philippine Ultimate Association (PUA) Jasper “Peng” Manlapaz during a visitation and sports camp held in Gran Europa, CDO. Ultimate is a sport played through a 175 grams flying disc. It is composed of seven members each team and is played on a rectangular

field about half the width of a football field, with an end zone at each end. Each team targets to score a goal by having a player catch a pass in the end zone that they are attacking. The handler of the disc must not run and should pass it to his running teammate. Any time a pass is incomplete, a turnover occurs and the other team may take the disc to score in the opposite end zone.

Commonly, game is played to 17 goals and last around 100 minutes. Manlapaz also shares that Ultimate is not only a typical game, it teaches players the ‘spirit of the game’ which include honesty, integrity and respect for opponents. Ultimate is a selfrefereed and non-contact game. The ‘spirit of the game’ guides how players referee the game and to maintain proper conduct on the field. Other than the national championship, Manlapaz and PUA are looking forward to Manila Spirit X, an international tournament that is considered as their

biggest event happening in November of this year at the Ayala Alabang Country Club, Manila. It will bring together more than 70 Ultimate clubs all over the world that include clubs from Bangkok, Beijing, Cambodia, Hanoi, Hong Kong, Indonesia, Korea, Shanghai, Singapore, Taiwan and Tokyo. The Philippine Ultimate Association built in 2003 is continuing their mandate in promoting this game through these tournaments. Aside from these are educational campaigns and trainings headed by PUA’s Vice President for Education Jamel Pangandaman.

To know all about the sport visit their website: http://www.philippineultimate.org/ or their facebook page facebook.com/philippine.ultimate

JAMEL PANGANDAMAN VP FOR EDUCATION Philippine Ultimate Association

VISTALAND ...from PAGE B1 Gran Europa consists about 200 hectares of land that houses 12 subdivisions. There are 3,500 houses giving more or less 11,00012,000 individuals living in the area, rising the need for expansion in terms of services. “That’s the mandate and as well as more of a fulfillment to our promise, of Vista Land, to our communities,” he added.

Other than the supermarket, coming also are the construction of a pharmacy, a barbershop, salon, fitness gym, bakeshop, coffee shop, b u s i n e s s o ff i c e s a n d medical and dental clinics. Further, Gran Europa would also house Center for Culinary Arts (CCA) which is considered as first in Cagayan de Oro. Five buildings including the recently introduced Georgia Academy, an educational

Team CdeO in a training session at the Gran Europa Village Center CDO pitch, as they prepare for upcoming tournaments. This activity is part of Gran Europa’s open house day, May 17 & 18. institution, would be turned over on June. The opening of the supermarket would be on the following month. E n g r. A c e b u a l s o disclosed that two more buildings will be constructed before the year ends. This is a commercial arcade having 4,000 gross floor area. This arcade will offer commercial and specialized services such as lifestyle concerns and bars that are open to

outsiders. Vista Land Commercial Division decided to open this services to outsiders for they want other people to discover and know more what is in Gran Europa. He assured that even though open to outsiders, safety would never be an issue. Further, Engr. Acebu that these projects are organized in line with the thrust of their company in promoting healthy lifestyle and enhancing family relationship.

Engr. Chrysler B. Acebu, Project Head of Vista Land Commercial Division in Visayas and Mindanao. Photo by SHAUN UY

Irene Joy B. Dayo Shaun Alejandrae Yap UY

BusinessWeek MINDANAO

B4

Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

friday|may 23, 2014

Environment

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

The Colonia Hidden Valley Park nestled in the high lands of Iponan, Cagayan de Oro City is a beautiful getaway with an amazing view of Camiguin Island. Take a dip in its cool, crystal clear water of the infinity pool that will surely give you a relaxing feel - away from the daily buzz of city life.

https://www.facebook.com/Colonia.Hidden.Valley.Park

Photos by Shaun Alejandrae Yap Uy

OCD reveals DRRM strategy in NorMin

C

AGAYAN DE ORO CITY – The Office of the Civil Defense (OCD) region 10 during the Bukidnon Provincial Disaster Risk Reduction Management (DRRM) Summit here said that mitigation and prevention are the most effective strategies in minimizing the adverse effects of disasters.

​​ CEO-NM mangrove planting in Misamis Occidental​.​ The Career Executive Officers of Northern Mindanao (CEO-NM) planted mangroves on May 11, Sunday in Brgy. Tinago, Tugas , Baliangao, Misamis Occidental in support to the national greening program of the government. In the photo are Regional Directors: Visa Demerin of Bureau of Fisheries and Aquatic Resources (BFAR), Thelma Oliver of Philippine Information Agency (PIA), Dr. Adrian Suba-an of Department of Health (DOH), Romeo Naces, VP for Admin of Mindanao University of Science and Technology (MUST). (PIA-10)

In order to set their c h a l l e n g e s t h i s y e a r, Ana C. Cañeda, regional DRRM council (RDRRMC) chairperson and Office of Civil Defense (OCD) regional director, accounted the past Sendong and Pablo tragedies, saying that tropical storm Sendong had more casualties compared to tropical cyclone Pablo. Their records show that casualties due to death and injury were all coming from the provinces of Bukidnon and Misamis Oriental, and the cities of Cagayan de Oro and Iligan. “As compared to tropical cyclone Pablo, mas gamay ra gyud compared to Sendong. Not because mas na-wise na ta, but this is because dili man gyud kita ang nasa path sa Pablo” (As compared to tropical cyclone Pablo, it was lesser compared to Sendong. This is not because we were already wise, but this is because we were not in the path of Pablo), she explained. Flooding is said to be the number one potential

geo-hazard type in Region 10. This is because there are already a number of floodprone areas that are gradually expanding. Other potential geohazard types mentioned were landslide, volcanic landslide, lahar, earthquake and tsunami. All throughout the year 2013, the OCD-10 recorded 30 incidents of natural disasters in the region. Most of them were due to flood and then followed by landslide and strong winds. O f t he 14 re cord e d casualties, six of them were dead and eight of them were injured. For the human induced disasters, OCD-10 monitored a total of 31 incidents, and majority of them were due to fire, which was actually considered as the most common human induced disaster, followed by army attacks that took place in sporadic areas. These human induced disasters resulted to an overall of 36 casualties due

theme of “Safety of Our Schoolchildren,” the NSMW began on May 19 with a cleanliness, readiness and preparedness drive, that included the earthquake and fire drills and putting up of signages for the drill areas. Meanwhile, Dr. Rosita P. Yburan, Regional Program He a d of t h e Nat i on a l Achievement Test (NAT) in Northern Mindanao based in DepEd-10, who was in the city to monitor the observance of the NSMW, said the following activities will be undertaken by OCCS for the rest of the week: May 2 0 , c h e c k up /

inspection.repair of water and sanitation facilities, pipes, drainage and plumbing fixtures, water, closet, lavatory, faucet, etc. May 21, repairs and repainting of classrooms, chairs, armchairs/desks, tables/furniture, ceiling, windows and doors, door jambs, grills and hardware, and electrical wiring and fixtures. May 22, cleanliness of school grounds and gardens/ areas utilized for Gulayan sa Paaralan, Solid Waste Management, practice of waste segregation, and other school intervention programs.

Quake, fire drills highlight Brigada Eskwela 2014 OZAMIZ CITY, Misamis Occidental – An earthquake and a fire drill highlighted the opening of the 2014 Brigada Eskwela or the National Schools Maintenance Week (NSMW) in Ozamiz City Central School (OCCS), this city, on May 19. Conducted by the Ozamiz City Disaster Risk Reduction and Management Council (ODRRMC) in coordination with the OCCS, Department of Education, Division of O z a m i z C it y ( D e p E d Ozamiz), the drills were part of the kick-off ceremony of the NSMW, set May 19-24, this year.

A School Level Advocacy on Disaster Preparedness, the drills were participated by the OCCS personnel, parents and other education stakeholders, who attended the first day of the NSMW, Jer yn C. Penaco, Education Supervisor II, OCCS Central District Coordinating Principal, said. The NSMW is a school maintenance effort that e n g a g e s a l l e du c at i o n stakeholders to contribute their time, effort and resources to ensure that the public school facilities are ready in time for the forthcoming school opening on June 2. W i t h t h i s y e a r ’s

to death and 155 were said to be injured. Cagayan de Oro City had the most number of casualties in the region. This was largely due to the bombing incident that happened last year There were 257 houses/ structures that were reported to be totally damaged, mostly caused by fire, while there were 120 houses/structures that were partially damaged. So far, Bukidnon topped with the most number of houses/structures that were partially damaged. The OCD-10 also takes into account the poverty statistics in the region and considers it as a disaster. “Kung taas kaayo ta’g poverty incidence among families, that is already a disaster on itself bisag wala pay nahitabo. So, bantayanon na na sitwasyon” (When we have high poverty incidence among families, then that is already a disaster on itself even if the disaster is not yet happening. So, that’s what makes it a serious situation), Director Cañeda said. Regional DRRM Programs The Regional Disaster Risk Reduction and Management C ouncil had identified regional impacts that helped them form objectives, targets, and outcomes according to the four DRRM thematic areas which are the Disaster Mitigation and Prevention, Dis aster Prep are dness, Disaster Response, and Dis aster Re cover y and Rehabilitation. The programs under Disaster Mitigation and Prevention are the Project Climate Twin Phoenix by the Climate Change Commission, and the installation of automated raingauges, water level sensors, and tide level sensors by the Department of Science and Technology. For the Disaster Preparedness, which was also called a Response Preparedness, there are several programs created in order to reduce casualty and damage to properties. These are the STEAG Port and Ship Security Sea Lion Live Exercise, Incident Command

System (ICS) Training for PDRRMC Misamis Oriental, and the Search and Rescue Training for PDRRMC in Lanao del Norte. For the Disaster Response, the OCD-10 prepared the local DRRMC to activate the cluster approach in their hazard contingency plan. It was said that they have fully activated their clusters during the prolong Sendong operations. As for t he Dis aster Recovery and Rehabilitation, inspections of recovery and reconstruction/rehab projects and relocation sites are to be undertaken in order to improve the living conditions of the victims especially during the aftermath of a said disaster. The Paradigm Shift Director Cañeda also introduced the new national DRRM framework which shifted f rom top-down and centralized Disaster Management to a bottomup and participatory Disaster Risk Reduction. This paradigm shift calls for all the constituents to take part in the planning on how to minimize their exposure to hazards. Other than that, the OCD-10 is now aware that disasters are the reflections of the people’s vulnerability, and that they are therefore focusing on their “integrated approach to genuine social and human development to reduce disaster risk” as well as to being pro-active in their DRRM. As presented in the NDRRM framework, half of their efforts for their DRRM plan would be allocated in their Disaster Mitigation and Prevention. “We’re not going to make heroes out of people,” added Director Cañeda. The Bukidnon Provincial DRRM Summit was conducted on May 6 to 7 with the theme: “Kaluwasan sa katawhan, Katungdanan sa tanan.” Other activities were the signing of the Strengthened Declaration of Commitment to DRRM, and the workshop. (ACP/PIA10)