BusinessWeek Mindanao (May 23, 2016)

BusinessWeek MINDANAO

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Volume VI, No. 140

Market Indicators As of 5:55 pm May 20, 2016 (friday)

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Cabinet choices DAVAO City -- The incoming administration of presumptive president Rodrigo Duterte continues to take shape as more personalities are expected to come out in the coming days.

In a press conference past midnight Sunday, Duterte said he wants his would-be Cabinet in place when he takes his oath of office.

In selecting his Cabinet, Duterte said he wants to balance it as he pointed out that people must not put color on his policy and decisions on his choices.

“I will not allow anybody to put color on my choices.

From now on it will be for the interest of the people that counts,” he said.

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SanMig allots $4.2B for 5 power projects www.businessweekmindanao.com

Monday | May 23, 2016

By MYRNA VELASCO, Contributor

A Brown gets regulatory okay to raise capital

T

HE energy arm of San Miguel Corporation will be on extensive capital spending of US$4.2 billion for five new power projects of 2,100 megawatts capacity in Mindanao and Luzon grids.

In a briefing with re p or t e r s , S a n M i g u e l President Ramon S. Ang noted that the company will be putting up three additional power projects to underpin the development of three industrial estates in various parts of Mindanao.

That portion of their investment plan, he said, will projects/PAGE 10

CRYSTAL CLEAR. Children take turns jumping into the crystal clear waters of Enchanted River in the municipality of Hinatuan in Surigao del Sur. MindaNews photo by Bobby Timonera

Siargao Island seeks 3MW modular genset

Fish landing centers A TOTAL of 38 community fish landing centers (CFLC) are now on the works to benefit ordinary fisher folks in Northern Mindanao.

Amounting to P2.85 million per unit, the CFLCs will hold a two-storey building which will house a post harvesting facility as well as serve as convergence zone for the beneficiary fisherfolks in information sharing, skills training and more.

BFAR Planning Officer Stephanie Cantorne said they have started the construction of the approved 20 units for last year and another additional 18 units for 2016.

P15.00

By ROEL CATOTO, MindaNews

BOUNTY FROM THE SEA. A fisherman checks the octopus he has dried on the beach in General Luna town in Siargao Island. MindaNews photo by ROEL CATOTO

DAPA, Siargao Island –To have a stable power supply island-wide, the lone power utility here is now seeking a 3- me g aw att mo du l ar generation set.

Engr. Sergio Dagooc, general manager of Siargao

Electric Cooperative Inc., (SIARELCO) Inc., said they need the power generation set to address the problem of power deficiency. siargao/PAGE 10

A B R O W N C o m p a n y, Inc. said it received board approval to raise capital on the local bourse.

In a disclosure to the Philippine Stock Exchange, the property developer said its board of directors on Friday authorized the capital raising exercise.

“For this purpose, the board of directors also approved the proposal to increase the corporation’s authorized capital stock,” A Brown said.

In a separate disclosure, A Brown said its board approved the proposal to increase the company’s authorized capital stock to P4 billion divided into 4 billion common shares from the current P2 billion divided into 2 billion common shares.

A Brown will implement the increase in two tranches, issuing the first P1.3 billion raise/PAGE 10

El Niño will still have a lingering effect with the onset of La Niña --PAGASA

By JIGGER J. JERUSALEM, Philippine News Agency

A CLIMATE specialist on Saturday warned that El Niño might still persist with the onset of the La Niña.

El Niño is a phenomenon of a long drought or dry spell while the La Niña is the opposite weather condition,

which means more rains are coming ahead.

Jo s e p h B a s c o n c i l l o, a climate specialist at the Philippine Atmospheric, el niÑo/PAGE 10

A rice field cracks up due to the El Nino phenomenon.

MindaNews file photo by Ferdinandh Cabrera

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BFAR set to turn-over community fish landing centers A T O TA L o f 3 8 c om mu n ity f i s h l a n d i n g c e n te r s (CFLC) are now on the works to benefit ordinary fisher folks in Northern Mindanao.

Amounting to P2.85 million per unit, the CFLCs will hold a twostorey building which will house a post har vesting facility as well as serve as convergence zone for the

beneficiary fisherfolks in information sharing, skills training and more.

BFAR Planning Officer Stephanie Cantorne s a i d t h e y h av e s t a r t e d the construction of the

ap p r o v e d 2 0 u n i t s f o r last year and another addit iona l 18 units for 2016.

Cantorne said nine w i l l b e tu r n e d ov e r t o Lanao del Norte, 12 for

Misamis Occidental, 14 for Misamis Oriental, and three for Camiguin.

Post equipment facilities like freezers and solar dyers will also be turned over by BFAR to

reduce post harvest losses.

To d a t e , B FA R i s training fisherfolks and partner LGUs to ensure sustainability and good resource management practice.

communities in Mindanao through the provision of agricultural and fisher y interventions.

In re sp ons e to t h i s project, the DA-Regional Field Office 10 is now ready to distribute interventions to the Bangsamoro camps in Camp Bilal in Munai, Lanao Da/PAGE 10

M A L AY BA L AY C it y - Provincial Operations Office of the Department o f S o c i a l We l f a r e a n d Development in Bukidnon commemorates its 5th year anniversar y on May 10.

This event is a c e l e br at i on i nt ro du c e d by the provincial office under the leadership of C h r i s t o p h e r C ap i np i n , the provincial link.

According to the provincial link this initiative began in 2011

from a simple gathering of the provincial staffs, until it later extends to the field workers.

He said the event ai ms to st re ng t he n t he camaraderie between and among the field workers t h rou g h te am - bu i l d i ng activities and hopefully c re at e a m ore p o s it i v e working environment l e a d i n g t ow ard s b e tt e r d e l i v e r y of s e r v i c e s t o their partner beneficiaries.

The team-building activities include Sports Fest/Competition, allowing each municipality to create their ver y own teams for a friendly competition against the ot her are as. E ach te am is comprised of staffs working from various

programs of DSWD like the Pantawid Pamilyang Pilipino Program, Su st ai n abl e L ive l i h o o d Program, Kapit Bisig Laban sa Kahirapan Comprehensive and Int e g r at e d D e l i v e r y of Social Services (KALAHICIDSS) and others. Like any ot her comp et it ion, winners from each sport c at e g o r y a r e r e w a r d e d with trophies, medals and some cash prizes.

To m a g n i f y t h e convergence initiatives, the e vent als o fe atured t he S e arch for Mr. and M s . C onv e r g e n c e 2 0 1 6 where selected candidates were expected to embody DSWD core values that includes respect for human dignity, integrity

and ser vice excellence and becomes a catalyst of convergence.

Ap ar t f rom te am bu i l d i ng a c t iv it i e s , t he provincial office also sends out various certificates of recognition and awards to all hardworking men and women in the field as a s or t of mot ivat ion a n d e n c o u r a g e m e nt t o consistently thrives and be better public servants.

“A l l des er v ing st af fs who have worked above par expectations are rewarded, not to undermine the others but mostly to inspire them to improve an d c ont i nu e t h e go o d w o r k t h e y a r e d o i n g ,” Capinpin adds.

This particular c onve rge nc e a c t iv it y is peculiar to the province among the four other provincial offices of t he re g i on , a s it i s t he on ly D S W D Prov i n c i a l O p e r at i ons O f f i c e t h at obser ves such activity.

Capinpin says this event overall ser ves as a thanksgiving gathering of all convergence staffs who have endured challenges in their respective areas and eventually surpass them and deliver quality service to the public. (Jamila M. Taha/RTP/PIA10)

DA Special Assistance DSWD field workers mark convergence initiatives Project to aid Bangsamoro camps THE Special Assistance project of the Department of Agriculture in support of the Socio-Economic Component of the normalization process shall undertake responsive livelihood and infrastructure projects that will address the needs of the beneficiaries to uplift the socio-economic condit ion of t he r ura l

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M

ITSUBISHI M o t o r s Philippines Corp. (MMPC) has set a production target of 35,000

units production next year.

“At this stage, we are concentrating on sales in the domestic market,” said Yoshiaki Kato, President

Bayer, Monsanto now in merger talks GERMAN pharmaceuticals giant Bayer and the US group Monsanto said Thursday they are in talks on a possible merger to create a global player in pesticides, seeds and genetically modified crops, following weeks of speculation about a possible tie-up. ”Bayer executives recently met with executives of Monsanto to privately discuss a negotiated acquisition of Monsanto Company,” the Leverkusen-based company said in a statement.

Monsanto, for its part, ”disclosed… in response to recent media reports that it has received an unsolicited, non-binding proposal from Bayer AG for a potential acquisition of Monsanto, subject to due diligence, regulatory approvals and other conditions.”

But both sides emphasized that the talks were still only exploratory at this stage.

Neither mentioned how much any proposed deal would be worth.

But with Monsanto’s market value estimated at around $42 billion, observers

say it would be bigger than the recent acquisition of Switzerland’s Syngenta by China National Chemical Corp. ”There is no assurance that any transaction will be entered into or consummated, or on what terms,” Monsanto said, while Bayer insisted the talks were still only ”preliminary” and ”a further statement will be made as appropriate.”

A combination would create a new giant in the seeds and pesticides sectors.

Agricultural suppliers like Monsanto have been pressured by low commodity prices that have caused farmers to cut orders for supplies. In March, Monsanto slashed its earnings forecast for 2016.

S lu g g i s h n e s s i n t h e industry has also sparked deals such as a mega-merger between DuPont and Dow Chemical.

Switzerland’s Syngenta last year rejected an unsolicited offer from Monsanto, later agreeing to be bought by China National Chemical merger/PAGE 10

Vitarich ready to fight BIR over tax AGRIBUSINESS Vitarich C orp. has disputed the Bureau of Internal Revenue’s (BIR) assessment that it failed to settle more than P1 billion in tax liabilities in 2011.

The company on Thursday adv is e d t he Phi lippine Stock Exchange that BIR found it liable for P1.29 billion for unsettled income, value-added, withholding, documentary stamp and fringe benefit taxes. “ Vi t a r i c h i s t a k i n g appropriate legal steps to assail the assessment on the grounds of prescription and lack of factual basis,” the disclosure read.

In 2011, the company reported a 13% year-on-year increase in net income, to P233.8 million from P207.1 million. This was driven by higher sales volumes and selling prices.

The period witnessed Vitarich grow its sales 19% to P2.7 billion from P2.26 billion. Operating expenses, on the other hand, remained flattish at P179.44 million.

The company’s latest financial results indicate a return to profitability. It netted P38.1 million in the

first quarter of the year, swinging back from a net loss of P62.6 million a year earlier.

Vitarich generated P1.17 billion in revenues, a 70% increase from the P685.3 million reported in the same period in 2015. It also booked a net interest income of P126,000.

The company incurred P1.01 billion in cost of goods sold, P114.9 million in other operating expenses and P1.47 million in income tax expense during the threemonth period.

Vitarich is primarily engaged in manufacturing and selling of feeds. The company is under a corporate rehabilitation plan approved by the Regional Trial Court of Malolos, Bulacan on May 31, 2007.

The rehabilitation plan resulted in the restructuring of Vitarich’s debt totaling P 3 . 2 bi l l i on . In 2 0 1 3 , Kormasinc, Inc. acquired the debt and agreed to a debt-to-equity conversion.

Vitarich filed with the rehabi lit at ion cour t in Bulacan a motion to exit the rehabilitation plan on November 5, 2015.

& CEO of MMPC in a media briefing on Friday companying a ceremony c e l e b r a t i n g M M P C ’s 600,000th unit of production.

Mr. Kato said the company hop e s to ma ke arou nd 18,000 to 19,000 units of the Mitsubishi Adventure model and the Mitsubishi

L-300 cab, which forms the base for light commercial truck conversions.

A c c o r d i n g t o M r.

Kato, almost 70% of car sales volume is imported while only 30% is local, particularly the Adventure and L-300 cab.

Moreover, a P2-billionpeso metal press shop, which the company expects to build in a year or so, will increase the average share of locally produced parts to 45%, and possibly beyond 50% in three years, said Mr. Kato.

The current local share is 35-40%.

“We are indeed proud that parts localization of the (Adventure) has achieved a peak of 67%,” said Mr. Kato in his speech at the ceremony.

The L-300 localization rate is at 61%.

When asked for updates on the company’s bid to join the Comprehensive Automotive Resurgence Strategy (CARS) program, he said he expects to receive approval “some time soon.”

The company submitted its application in February.

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A Brother Like That Think a minute…This is a true story about a man named Paul whose brother gave him an early Christmas present. It was a brand new car! A few days later, Paul was leaving work to go home on Christmas Eve. A boy named David was standing

by Paul’s shiny new car. He said: “Sir, is this your car?” Paul answered, “Yes, my brother gave it to me for Christmas.”

David looked surprised. He said: “You mean your brother gave it to you so it did not cost you anything? Wow! I wish…”

But the boy stopped, and didn’t finish his sentence. Paul knew David was going to say he wished he had a brother like that. But he was so surprised when the boy said: “I wish I could BE a brother like that!”

Paul then asked David if he would like to ride in his car.

“Oh, Yes!” he answered. “I’d love to!” Paul and his new friend had been riding a while when David said: “Mister, would you mind driving in front of my house?”

Paul smiled, thinking David wanted to show his friends that he was riding in a new car. David asked Paul to stop in front of a certain house. The boy jumped out of the car and ran into the house.

A few minutes later, Paul saw David coming back out carrying his crippled, little brother. He carefully sat his

THINK

A Minute

Jhan Tiafau Hurst brother down on the steps in front. Sitting down next to his brother, David pointed to Paul’s new car. He said to his brother: “See that car, Buddy!

This man’s brother gave it to him for Christmas. And someday, I’m going to give you one just like it. Then you can ride in it and see for yourself all the nice Christmas things in the stores that I’ve been telling you about.”

Paul got out and lifted the crippled, little brother on to the front seat of his new car.

David climbed in beside his brother, and the three of them went on a very special and unforgettable Christmas ride.

That Christmas eve, Paul finally understood what Jesus Christ meant when He said: “You’ll be much happier and more blessed when you give than receive.” Just Think a Minute…

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Why Digong?

Weeks before the last election, I still could not make up my mind regarding the presidential candidates. The candidates had their own individual strong points to crow about. Expectedly, however, they also had their own baggage, some with heavier loads relative to the others.

To friends who sought my opinion, I candidly admitted that I was still undecided.

When pressed, I replied: “Baka last minute, mag Eddie na lang ako. “ “Sinong Eddie?”

“Eddie ako!” (Chuckles from my friends.)

To others, I would say: “ Just read my lips.”

Closer to election time, I had a lunch get-together with some former associates from the office the Press Secretary. We discussed whom to suppor t. The decision was unanimous.

Later, we posed for a picture which unmistakably reflected our collective choice: All of us held up closed fists!

When posted on Facebook, the picture immediately generated “likes”, positive emoticons, and requests to share. There were, of course a few dissenters, like a friend and former journalist whom

I hold in high regard. His puzzled reaction: “ To t i n g B u n y e f o r Duterte? WHY?” I did not respond anymore to my journalist friend. I am sure he had strong reasons for opposing Duterte. Besides, I did not want to get into an argument with a dear friend, for a candidate who may not even know I exist.

But to the associates I met over lunch I disclosed the reason for my choice. I told them that the turning point for me came during a wake. The bereaved family had been in business in Davao for several decades. After I had offered my condolence, the conversation – much to my surprise – immediately shifted.

One of the bereaved asked me whom I was voting for.

I gave my oft-repeated line that I was still undecided.

The bereaved then said: “Toting, Duterte na tayo.”

And then the bereaved mentioned something about Duterte which I heard for the first time.

“Ang tagal na naming nagnenegosyo sa Davao. Pero kahit minsan hindi kami ginipit.”

The clincher came with this revelation:

“Very honest ang taong yan. Minsan may hiningi siyang tulong. Hindi naman para sa kanya kundi para sa isang taong tinututulungan niya. Noong bandang huli, yung sumobra, isinoli niya.”

L ast Friday, I read that some supporters of pre s u mpt i ve Pre s i d e nt Duterte have returned excess campaign contributions to donors. My immediate reaction: That one I can believe.

Why Leni?

When I woke up on the morning of May 10, I got this pleasant surprise text message from a friend: “Congratulations. Duterte and Robredo won!”

With the INC endorsement for Marcos in a closely fought VP race, conventional wisdom pointed to a win by Bongbong over Leni. However, the quick and unofficial count showed otherwise.

Whatever the official and final count turns out to be, the reluctant candidate fought a very good fight. Unlike in the presidential race, I had a clear idea, right from the start, whom to support when it came to VP. Leni came to the scene like a breath of fresh air. No

SPEAKING

O ut

Ignacio Bunye taint whatsoever of a trapo.

Moreover, she definitely benifitted from her late husband’s legacy of good governance.

Why not Bongbong?

I don’t really have any problems with Bongbong.

One can not blame the son for the the sins of the father.

In his own right, Bongbong can stand on his record as a governor, a congressman and a senator. He is also very simpatico. Most important, I admire the independence he showed during the Corona lynch mob hearings.

My only problem is that I can only vote for one candidate for the position of Vice President.

Note: You may email us at totingbunye2000@gmail. com.

DepEd persecuting Christian schools LIFE’S INSPIRATIONS: “…

Do not be afraid of what you are about to suffer. I tell you, the devil will put some of you in prison to test you, and you will suffer persecution…” (Revelation 2:10, the Holy Bible).

-ooo D U T E R T E ’ S ASSISTANTS WARRING WITH ONE ANOTHER: It maybe because of the stress or the excitement of becoming our country’s leaders in the next six years, or of the rigors of the just concluded grueling and heavily bruising campaign, that the assistants of President Rodrigo Duterte now appear to be warring or misunderstanding one another, in public yet.

So I say, let us give them time to rest for a while, and fully prepare for the grave work that lies ahead of them.

Let us also try to understand that these assistants are all human beings, capable of getting angry at other people whom they perceive may have wronged them, or of making mistakes. They remain, after all, men and women filled with imperfections.

Be that as it may, here is an unsolicited advice to Duterte’s assistants: unless it is something constructive, it would be best to keep one’s mouth fully shut. As a sage

once said, it is better to be silent and be considered as having something deep in one’s mind, rather than talk, or open one’s mouth, and be proved a fool.

-ooo L AV I NA , E VA S C O, L E AV I N G D U T E R T E CAMP? Peter Tiu Lavina, the campaign spokesman of Duterte, let out quite a mouthful during the press c on fe re nc e he g ave to mediamen who were camping out in Davao City last Friday, May 20, 2016, which proved beyong reasonable doubt that all is not really well not only between him and Duterte’s other assistants, but between him and Duterte as well.

His first point: media should ask lawyer Salvador Panelo, not him (Lavina, t h at i s ) re g ard i ng t h e appointments of former Just ice Und e rs e cre t ar y Jose Calida as the incoming solicitor general and of some other appointments allegedly made by Duterte.

It showed that one, Lavina, is surprisingly not in the loop about these appointments, and two, that he is not seeing eye to eye with Panelo.

This lends some truth to the Facebook post of Joel Sy Maguiza Egco, the Malacanang reporter of the Manila Times, to the effect

that Lavina and Duterte campaign manager Leoncio Evasco have left the Duterte camp now, because they are allegedly being left out in the cold by the other assistants of the incoming president, notably Panelo and longtime executive assistant Bong Go. True or false?

-ooo DEPED PERSECUTING CHRISTIAN SCHOOLS: My wife (former Judge Angelina Domingo Mauricio) and I filed, this week, two cases against the Department of Education, challenging its orders preventing the continued operation of elementary and secondary schools owned and operated

by Christian churches across the country.

Two groups---the United Association of Christian Educators of the Philippines (ASCEP) and the Association of Christian Teachers and Schools (ACTS)---sought our help as lawyers, on the argument that Christian churches, or those belonging to the Born Again denomination, have Biblical, Constitutional, and statutory mandates to own and operate schools with the principal duty of teaching spirituality to children.

These Christian churches have b een owning and

K akampi

Mo A ng Batas

Atty. Batas Mauricio operating schools for ages, and the DepEd already recognized their right to own and op erate these schools, in the light of their good performance.

Suddenly, apparently on the prodding of some powerful business groups, the DepEd turned around and is now persecuting the Christian schools. Work of the devil?

-ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 HOURS a day, in the Philippines and the world at www.facebook.com/ angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

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Banking&Finance

PHL stock market corrects after post-election rally L OCAL share prices sustained losses below the 7,300 le vel on Friday, as the market continued to correct following its postelection rally and dragged by prospects for higher United States (US) interest rate.

The barometer Philippine Stock Exchange index (PSEi) de clined 128.30

points or 1.73 percent to 7,299.03 from previous day’s 7,427.33 finish.

Justino Calaycay Jr., head of research and marketing at A&A Securities Inc., said the market was correcting in the past few day after a six-day run after election w hich gaine d over 500 points or 6 to 7 percent.

“The (Presidentele c t Ro dr igo) D uter te

euphoria, the first wave (of enthusiasm) had died down… The euphoria is over now, but it could again happen,” he said, referring to the incoming President’s inauguration ceremony and his first State-of-the-Nation Address (SONA) in July.

Calaycay said Friday’s trading was also haunted by the prospect that the Federal Reser ve will

increase interest rates in June or July.

The property sector’s 2.68-percent losses led the market’s decline.

T he m i n i ng and oi l counter rose slightly.

Volume of transactions reached 1.75 billion shared valued at Php7.21 billion.

Decliners swamped advancers, 140 to 45, while 42 issues unchanged. (PNA)

With IRC, BSP expected to keep rates unchanged for entire year THE Bangko Sentral ng Pilipinas (BSP) will likely keep the interest rates it will implement under the interest rate corridor (IRC) system until 2017.

Nomura Global Economics expects the BSP to “remain on hold” for the rest of the year after adjusting key overnight and deposit rates on June 3 when the IRC is in place.

In a commentary, Nomura said the strong economic performance – and it projects GDP growth of 6.5 percent

this year from 5.9 percent in 2015 – will give the BSP leeway to hold off any more rates’ increases.

With a 6.9 percent first quarter growth, the next quarter should report at least seven percent. “Our b a s e l i n e r e m a i n s t h at President-elect Duterte will take a pragmatic approach to policy, further supporting the growth outlook.” As such, it said, “against this growth backdrop, we continue to expect BSP to remain on hold for the rest of 2016, Presented by

following a mini-easing with the introduction of its new policy corridor.

Ne x t y e a r, No mu r a estimate at least a 50 basispoint increase in policy rates –“given the strong growth outlook, and inflation picking up.”

The GDP growth track it expects to remain solidly strong. “Our forecast implies a further pickup in the second quarter, likely to above seven percent growth, before moderating slightly as the impact of election-related

spending fades.”

The IRC system includes enhanced and new policy instruments such as the standing liquidity facilities (overnight lending and overnight deposit), the overnight reverse repurchase or RRP facility and a term deposit auction facility (TDF).

The interest rates for overnight lending facility will be reduced from six percent to 3.5 percent, overnight RRP rate is three percent RATES/PAGE 11

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5 PDIC sues LBC Bank execs for unsound banking practices YOUR DAILY Mindanao-wide BUSINESS NEWSPAPER

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THE Philippine Deposit Insurance Corp. (PDIC) has filed with the Department of Justice a new round of criminal complaints against the officials of shuttered LBC Development Bank, Inc. (LBC Bank).

In a statement, the PDIC said several high officials were accused of violating the PDIC Charter or Republic Act No. 3591 by conducting business in an “unsafe and unsound manner” that caused the bank to lose at least P1.8 billion.

Named as respondents were LBC Bank’s former directors Santiago G. Araneta, Juan Carlos G. Araneta,

Fernando G. Araneta, Carlos G. Araneta, and Joseph Jeffrey Rodriguez. Also impleaded were former Chairman, President and CEO Ma. Eliza G. Berenguer, former Head of the Treasury Ofelia F. Cuevas, former Finance Head Apolonia L. Ilio, and former Cashier Arlan T. Jurado.

The case arose after the officials positioned the bank to be an active player in the remittance business through a service agreement with LBC Express, a company owned by the bank’s stockholders.

Under the agreement, LBC Bank serves as the Sues/PAGE 11

BusinessWeek MINDANAO YOUR Mindanao-wide BUSINESS NEWSPAPER monday | may 23, 2016

Corporate events

Editor: CHENG ORDOÑEZ

6

Globe Business powers PH supply chain industry G

Co-presents Supply Chain Mornings

lobe Business, the information and communications technology arm of Globe Telecom, has joined hands with the Philippine supply chain industry to help address issues affecting manufacturing, retail and logistics companies in view of an increasingly connected global economy.

To show support, Globe Business served as

co-presentor of Supply Chain Mornings, a halfday event of the Supply Chain Management Association of the Philippines (SCMAP) that gathers over 20 key figures from various companies such as Unilab, Unilever, Jollibee Worldwide Services, URC, Zenith Food, Golden ABC, JTGF Food Group, and Julie’s Bakery.

“Being the trusted business advisor of the supply chain industry,

we fully understand the passion to deliver quality goods with half the time and effort. It is through the Supply Chain Mornings that we are able to help these companies realize the need to incorporate technology with critical business operations and processes,“ said Mike Frausing, Globe Senior Advisor for Enterprise and IT Enabled Services Group.

During the forum, Frausing noted how

Globe Business and SCMAP stages a successful Supply Chain Morning at Astoria Plaza Hotel. Photo shows various supply chain industry clients with Globe Business representatives.

proper knowledge, scalable infrastructure, and cost-efficient tools serve as a driver of growth for the logistics and supply chain industry. Among the Globe Business solutions which can help the supply chain industry are Data Recovery as a Service (DRaaS), Back-up as a Service (BaaS), Managed Security Services, Canvas, Google Apps for Work and Chromebook, Microsoft Office 365, and Payroll Cloud.

Topics discussed include the following: How technology is transforming the different networks in the supply chain specifically goods, information, social and financial networks; How to monitor and manage

goods and the information network which showcased the various upsides that the Internet of Things (IoT), Cloud Services, and Managed Security Services bring to the supply chain industry; Digital Marketing Solutions and Analytics that help measure and understand the increasing online customer behavior by Globe Venture AdSpark, and How technology facilitates financial inclusion and making financial transactions more efficient with Mynt, a fully owned subsidiary of Globe Telecom that aims to build a unified Globe Financial Services structure.

SCMAP is a professional organization formed in 1990 by a group

of companies operating in the Philippines with an original mission to achieve effective distribution of products and materials. Since then the organization has grown in membership, expanded its mission, and allowed membership for individuals with a keen interest and involvement in Supply Chain Management.

For more information about Globe Business and its set of business solutions, you may get in touch with a Globe Business Account Manager, call the Globe Business Premium Support Center at +63 2.917.2888 toll-free using a Globe mobile and landline, or visit www. globe.com.ph/business.

Participants of Benjie S. Manuel's yearly summer workshop work the ramp during a fashion recital last May 21 at SM City Cagayan de Oro. PHOTO BY MARK FRANCISCO

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Monday|may 23, 2016

7

SM WOMAN’S STYLISH LEISURE WEAR These are clothes described as “après sport” or “gym to office”, basic pieces that are smart, lightweight, frill free, and sometimes even architectural. And designers and retailers have created a lot of buzz about “athleisure” collections, which are appropriate for either

Easy Layers.

Crisp white button-down shirt worn under a soft sleeveless double layer top, paired with black culottes and blush blazer.

athletic or leisure pursuits.

Leisure wear is everything casual and comfortable in a woman’s wardrobe, usually consisting of loose fitting garments made of breathable fabrics like cotton or nylon. For the woman on the go, leisurewear is a practical

solution for running errands or exercising.

But just because it’s casual doesn’t mean it can’t be stylish. And SM Woman takes a minimalist spin to leisurewear; with simple, easy, and practical separates. Photographed against the modern architectural façade of One Esplanade, these are pieces that show the softer side of minimalism with the use of soft, breezy fabrics, staple knits, and a neutral, monochromatic color palette. A subtle hint of soft pastels here and there, gives the overall silhouette an urban, contemporary edge.

SM Woman’s top hits: high-neck sleeveless knits, cropped tops, asymmetrical hem shirts, boxy blouses, and flattering tunics. Cool culottes and cropped pants will make any ensemble look simply chic, while sleek long vests jazz up even the simplest of outfits. Keep accessories and sole choices to a minimum to maintain the fluidity of the whole look.

Shot on location at One Esplanade, the latest SM Woman separates are available at The SM Store in SM City Cagayan de Oro and in all SM Stores nationwide.

Pure and Simple. A Long black vest worn over an asymmetrical top and a pair of straight-leg cropped pants.

This white shell top is a top hit.

Sleek and sophisticated.

Black highneck tunic top worn with a pair of white cropped trousers.

LifeStyle

BusinessWeek MINDANAO

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SHORE-BREAKS 2:

The Biggest Skim boarding Competition in Northern Mindanao RESULT: 1st NMR1 GOVERNOR'S CUP TABLE TENNIS TOURNAMENT MINDANAO OPEN on April 29 & 30, 2016 @ SM CDO CLASS A individual: Champion - Carlos Fuerzas Jr. 1st run - Champ Nanaman 2nd run - Jacob Valdevieso

- George Benoya CLASS B individual: Champion- Emery Faith Digamon 1st run- Jana Mae Paculba 2nd run- Jeffrey Faciolan - Al Khalid Pandi CLASS C individual: Champion- Jan Carlo Cardino 1st run- Emery Faith Digamon 2nd run- Andrei Jose Yucada - Jana Mae Paculba WOMEN'S individual: Champion- Emery Faith Digamon 1st run- Cassandra Nicole Baltar 2nd run- Leslie Cambongga - Ana Gudes 12yrs & under: Champion- Jana Mae Paculba 1st run- angel gudes 2nd run- Novy Mae Digamon - Dane Dunstan Piala TEAMPLAY: Champion-BBC SPORTS A 1. Alan Neri 2. Champ Nanaman 3. Dario Hernane 1st run- BBC SPORTS B 1. Xyjan Ramos 2. Angelo Calianga 3. Vincent Den Macalam 2nd run- PAGZAMTTA 1. Carlos Fuerzas Jr. 2. Nigel Gedorio 3. Jason Soria - SPORTY DIPOLOG 1. Von Carlo Cardino 2. Dane Dunstan Piala 3. Ricardo Pontanar

M

etro Cagayan de Oro’s leading resort hotel, Apple Tree Resort & Hotel in partnership with CHOOSE Philippines (ABS-CBN’s Travel Insider), Engineer Danilo Daroy, Business Week Mindanao, Mindanao Daily News with the full support of the Department of Tourism Region 10 is once again organizing a SKIM BOARDING EVENT dubbed as “SHORE BREAKS 2: A Skim-boarding Competition” on May 22, 2016 at the Shore Line of the said Resort Hotel.

The event which was officially launched last year May 16, 2015 was “formulated to promote the sport to Northern Mindanao and provides opportunities to the youth to actively engage in programs and activities upholding the quality of life” said by Mr Clement Dampal II, the Marketing and PR Officer of Apple Tree and at the same time, the Project Director of the event and named it as “SHORE BREAKS”.

Shore Breaks 2 which goes on its 2nd year is expected to be bigger and better. “This year, we are expected to host the biggest skim boarding event in Northern Mindanao as skimboarders of all ages, from beginners to professionals will gather for this annual event which is stiffer and intense as the competing participants will show off their skills and compete for the cash and other prizes.”

According to Ms Bjanesha M. Emphasis, the General Manager of the said Resort Hotel.

SHORE BREAKS 2 will commence on May 22, 2016 (Sunday) from 7am and closing program will be at 6pm and will be hosted by Mr Steve Norman Ebonia, an award-winning Skim-boarder, and Surfer.

Meanwhile the competition has 2 different categories namely Kid Category which is open from 7 years old to 15 years of age while Adult Open Category must be 16 years of age above to join.

The Champion of the Adult

The Board-Sport Celebration Continues

Open Category will receive P5,000.00 Cash Prize while for the Kid Category will receive P3,000.00 Cash Prize. Each announced Champions will also receive customized Bodyfiller Skim Board, Roundtrip Boat Fare (CGY-CEB-CGY) good for 2 persons, Certificate of Participation, an Overnight Lanai Accommodation with breakfast good for 2 persons and access to the Infinity and Sea Horse-shaped Pools, Gift Packs, and T-shirts (For Adult Only).

First Placer of the Adult Open Category will receive P3,000.00 Cash Prize while for the Kid Category will receive P2,000.00 Cash Prize. Each announced First Placers will also receive customized Plaque, Certificate of Participation, an Overnight Deluxe Superior Accommodation with breakfast good for 2 persons and access to the Infinity and Sea Horseshaped Pools, Gift Packs, and T-shirts (For Adult Only).

Second Placer of the Adult Category will receive P2,000.00 Cash Prize while for the Kid Category will receive P1,000.00 Cash Prize. Each announced Second Placers will also receive customized Plaque, Certificate of Participation, an Overnight Lanai Accommodation with

breakfast good for 2 persons and access to the Infinity and Sea Horse-shaped Pools, Gift Packs, and T-shirts (For Adult Only).

For the non-winning participants, they will receive tickets good for 2 persons for the access to the Infinity and Sea Horse-shaped Pools.

The SHORE-BREAKS 2: A Skim-boarding Competition is presented by Apple Tree Resort and Hotel in partnership with Engineer Danilo Daroy, CHOOSE Philippines (ABSCBN’s Travel Insider), Business Week Mindanao, Mindanao Daily News, as endorsed by the Department of Tourism Region 10. Major sponsors include Clement Dampal Photography, DC, Grind, Quicksilver, Roxy, Cholo’s Wave House Production, and Sovereign Skates. Minor sponsors include Hurley, Primer Group of Companies, Municipality of Opol, Opol Rescue Tea m, Nature’s Spring, IPI (International Pharmaceuticals, Inc.), Swicked, Rowena A. Sabanal, Hon Louie Neri, Ororama, Omega Pain Killer Pro, Mediterranean Cruises and Travel, COTTA (Cagayan de Oro Travel and Tours Associations, Inc.), Jovencio Edrozo Jr., and Edgar Anthony Lugon Photography.

With Media Partners, Best Spots PH, My Life On Board, M Magazine (Life & Living in Mindanao), Endurance Sports Magazine, CDO Dev, 96.9 Easy Rock FM Station, The Cagayan De Oro Times, and Mindanao Star.

Finally, Apple Tree Resort and Hotel sends out an invitation that rings clear with one central message, “Are You Ready for SHORE-BREAKS 2? It’s time for a fantastic escape. Discover Apple Tree Resort & Hotel.”

Apple Tree Resort & Hotel is located in Opol, Misamis Oriental. Within this 7,000 square meter property are 39 luxurious guestrooms and suites, indoor and outdoor function spaces for corporate and social events, indoor and outdoor dining outlets, 2 swimming pools and a private beach, and a host of activities for fun & leisure.

For more information on Apple Tree Resort & Hotel, call (63 88) 555-1918, or email fantasticescape@ appletreeresortcdo.com. Take in the new Apple Tree look by visiting them on the worldwide web at appletreeresortcdo. com. Like us on facebook at w w w.facebook .com / AppleTreeResortHotel and follow us on twitter @ATRH4.

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friday|may 20, 2016

BusinessWeek MINDANAO

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2013 ppi’S Best in Business and Economic Reporting

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Monday|may 23, 2016

Projects... from page 1

command aggregate capital outlay of $1.8 billion.

The per-megawatt spending penciled in by the company is $2.0 million – which is generally the ruleof-thumb cost for coal-fired power projects.

“Per industrial estate, the requirement is around 400MW,” he said, although their proposed power plant development will be at 300MW in every area.

These would be on top of the 600MW Malita Davao coal-fired power plant that will partly feed its capacity to an embedded San Miguelowned industrial estate being pioneered in that domain.

Ang is conf ident of “brisk economic growth” for Mindanao, especially with renewed confidence that is partly propelled by the election of a new president from Davao City.

“We want to create more job opportunities for the Filipino people, and at the same time, provide a site for investors wanting to locate in Mindanao,” he stressed.

The other two major greenfield power developments in San Miguel Energy Corporation’s (SMEC) blueprint will be sited in Luzon for total capacity of 1,200MW. These are the 600MW C e n t r a l L u z o n Po w e r C or poration project in Pagbi l ao, Q ue zon; and 600MW Mariveles Power Generation project in Bataan.

The two projects are ex p e c te d advanci ng to development phases soon as these are already underpinned by power supply agreements (PSAs) recently signed with power utility giant Manila Electric Company.

SMEC is currently the countr y’s biggest power industry player – and these

project expansions will further cement its stronghold in the deregulated electricity market.

Siargao... from page 1

Dagooc said Siargao Island has 25,000 memberconsumers and have a total power demand of 4-MW. Siarelco is being powered by a lone power supplier from the National Power Corporation-Power Sector Assets Liabilities Management Corporation which is currently supplying at least 1.8-MW. To realize the acquisition of power generation sets, Dagooc said the management will use the Malampaya Fund, which has to be approved by the National Electrification Administration.

Dagooc, President of the Association of Mindanao Rural Electric Cooperatives Inc., (AMRECO) said that by second quarter next year, Siargao will have 2-MW from the 330-MW supply to be shared among AMRECO members through its Power Supply Aggregation Group (PSAG) C orporation, a business arm of AMRECO. He s a i d t h e 2 - M W will be available upon the completion of the coal-fired power plant of GNPower Kauswagan, in Kauswagan, Lanao del Norte which is scheduled for commissioning and eventually commercial operations by the second quarter next year.

Aside from this, Siarelco is seeking a 1-megawatt power supply deal with San Miguel Corporation.

“L ast Tues day t here was an evidentiary hearing with Energ y Regulator y Commission in Dapa to materialize all these plans,” Dagooc told MindaNews.

Residents have been pushing for a steady supply of power in the island.

“We experience frequent brownouts here due power deficit,” said Ben Dumagtoy, a resident of Dapa town.

Residents in the tourist town of General Luna are also suffering from brownouts.

Juvy Meras said power interruptions are not scheduled and tourists are also complaining. “How many parties and nightly activities have been marred by the brownouts,” she said.

Raise... from page 1

immediately to partly cover the 20% stock dividend the company declared.

T h e s t o c k d iv i d e n d consists of approximately 346,573,104 shares for shareholders as of a record date, which the company will later set upon approval by the Securities and Exchange Commission, according to a separate disclosure.

Subsequent to the issuance and listing of the stock dividend, A Brown will issue the other P700 million worth of common shares together with the remaining authorized but unissued capital stock in a capital raising exercise.

“The second tranche of the increase in authorized capital stock will be undertaken primarily to raise fresh capital which will be utilized to partly finance the corporation’s power generation and other projects,” A Brown noted.

In the three months to March, the company netted P3.98 million attributable to the parent. This was lower than the P5.5 million it reported a year earlier.

El Niño... from page 1

Geophysical and Astronomical Ser vices Administration (PAGASA), said El Niño was on the decline as normal weather conditions might be experienced during the

May-June-July season.

“El Niño is in decaying s t a g e ,” B a s c o n c i l l o s ai d, s u m m i ng up t h e global advisory from the Inte r nat i ona l R e s e arch Institute (IRI) at Columbia University, USA, Bureau of Meteorology in Australia, the Tokoyo Climate Center in Japan, and the APEC Climate Center based in South Korea.

“With this current state, La Niña Watch is now in effect. A La Niña event is characterized by a persistent cooler than average sea surface temperature anomalies (below -0.5 degrees Celsius) over the tropical Pacific,” he said.

Basconcillo said PAGASA predicted that there would be more rains from the month of May up to July as local thunderstorms, inter-tropical convergence zone (ITCZ), lower pressure areas (LPAs), tropical cyclones, and other factors would be coming in.

PAGASA also expected tropical cyclones, ITCZ and LPAs in the AugustSeptember season, he said.

In spite of the prospect of heavy rains in the later part of the year, Basconcillo said, the traces of El Niño would still be felt in the next few months from now.

“El Niño will still have a lingering effect,” he told reporters and government and nongovernment representatives during the a forum on El Niño and La Niña at the Cagayan de Oro Water District (COWD) board room Friday afternoon.

(PNA)

DA...

from page 2

del Norte and Camp Bushra, Butig, Lanao del Sur. The assistance shall be apportioned equally to the two camps that includes 400 bags of certified rice seeds, 400 bags of open pollinated variety (OPV) of corn seeds; 800 bags of fertilizers; 500

pieces assorted fruit trees seedlings; two units hand tractor with implements; four units corn sheller; two units mobile corn mill and six head carabao.

Validated master list of beneficiaries of the said camps will be submitted to the DA through the Office of the Presidential Adviser on the Peace Process (OPPAP) as a requirement for the release of the said assistance.

Delivery of the agri-fishery interventions will commence right after the compliance of the needed requirements from the beneficiaries’ end.

Turn-over and distribution of agri-fisheries interventions will be on May 30, 2016 which will be properly coordinated with the local government units (LGUs), Armed Forces of the Philippines in Lanao del Norte and Lanao del Sur; MILF Task Force and OPAPP. The government is optimistic that the assistance provided to the Bangsamoro camps will capacitate the residents and will provide more economic opportunities for meaningful sources of livelihood.

Merger... from page 3

Corp for $43 billion.

Following its unsuccessful bid for Syngenta, Monsanto, which is based in Saint Louis,

Missouri, embarked on a huge restructuring program, axing 3,600 jobs, or 16 percent of its workforce by 2018, closing sites and writing down assets.

Monsanto is a major manufacturer of agricultural seeds and herbicides and employs about 20,000 workers and it describes itself as one of the world’s leading biotechnolog y companies.

The US group has been in the headlines in Europe recently over the weed killer glyphosate, which it markets under the name Roundup.

The EU on Thursday failed to agree on the reapproval of glyphosate in Europe amid fresh fears the product could cause cancer.

The Wall Street Journal had quoted informed sources overnight as saying that Bayer and Monsanto were in talks.

A report by Bloomberg News last week had fed similar speculation, evoking a purchase price of around $40 billion, causing Monsanto shares to soar and Bayer shares to plummet.

Bayer shares were the biggest losers on the blue-chip DAX 30 index in Frankfurt, plunging 8.2 percent to 88.51 euros in an overall market down 1.5 percent.

THE IMPORTANCE OF READING

By Shirley D. Laurilla, Teacher II Bonbon Elementary School

Why do we read? There are many reasons why people read. We read for different purposes; to get information, to learn new ideas and have fun while reading.

Reading is an ability of understanding printed symbols and figures necessary to a man’s day to day activities. It is also essential for every child’s success. School children all too often with difficulty in reading outweigh their desire to read and without proper guidance, they will never overcome it.

Reading helps develop the mind of the school children. For them to understand the written word is one way the mind grows its ability. Teaching young children to read helps them develop their language skills and solving mathematical equations.

Engaging yourself in reading will also help you discover new things. The reading tools like books, magazines and internet could be used by everybody to explore new things.

People who love to read can educate themselves in any area of life they are interested in. we live in an age where we overflow with information but reading is the main way to take advantage of it.

Reading can help you

travel and go as far beyond one’s imagination while the existence of television, computer games have their place but they are more like amusement. With reading, a person can go anywhere or even out of it. They can be a king or a queen, an adventurer or a princess.

In reading the possibilities are endless which non-readers never experience the joy to same extent. Through it, the creative side of the people are being motivated.

If you want to develop a good self-image then you try to develop also your readings skill. Remember that non-readers or poor readers often have low opinions of themselves and their abilities. They most often feel that the world is against them.

There was an old saying, “The pen is mightier than the sword”. Ideas written down can change the destiny of men and nations for better or worse. We could not stop the flow of ideas.

We need to read and read and research to build on good ideas and express the bad ideas before they bring destruction.

Only the through reading, we can be armed in this never ending life and death struggle. Get a book now. Start reading before it’s too late.

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Convergence sites briefed on CADP preparation Aiming for a more focused and unified interventions for sustainable development using the Convergence Initiative (CI) strategy, the four rural development agencies convened with the technical working group (TWG) at the regional, provincial and municipal levels to a Joint Consultation and PlanningWorkshop for the Preparation of the Convergence Area Development Plan (CADP), held in Cagayan de Oro city.

Mustered in the event are the members of the RCITWG from the Department of Agriculture, Department of Environment and Natural Resources (DENR), Department of Agrarian Reform (DAR) and the Department of Interior

and Local Government (DILG) together with their partner local government units belonging to the Royale and InayawanIllana clusters, in the province of Lanao del Norte and the Mt. Balatukan Range cluster, in Misamis Oriental.

“It is a necessity in crafting a CADP for the various local convergence agro-enterprise clusters (LCAEC), as this will serve as the basis for the downpour of resources and implementation of interventions and activities covered in the CI sites for the 2017-2022 period,” said Carlota S. Madriaga, chief of the Field Operations Division of DA-RFO 10.

Thea Mae Baltazar and Jemimah Bela Torrefiel, national CI staff, both presented

Republic of the Philippines REGIONAL TRIAL COURT 12th Judicial Region, Branch 21 Kapatagan, Lanao del Norte ERLINDA M. DELA CRUZ, Plaintiff,

CIVIL CASE NO. 21-409

- versus -

FOR: SUM OF MONEY

MERELY DIONALDO, Defendant. x- - - - - - - - - - - - - - - - - - - - / NOTICE OF SALE ON EXECUTION OF REAL PROPERTY WHEREAS, by virtue of the Writ of Execution dated October 23, 2015 issued by HON. ALBERTO P. QUINTO, Acting Presiding Judge of this Court in the above-entitled case, for the satisfaction of the judgment, directing the defendant Merely Dionaldo to pay to the plaintiff Erlinda dela Cruz, the sum of EIGHT HUNDRED EIGHTY SEVEN THOUSAND, FIVE HUNDRED (P887,500.OO) PESOS, Philippine Currency as principal, and the legal rate of interest thereon at one percent per month from the finality of this Decision (October 5, 2015), lawful fees in the service of this Writ, publication and other related incidental expenses. LEVY was made by the undersigned Sheriff on May 6, 2016 thru the Register of Deeds of Lanao del Norte on the rights, interests and participation which defendant have in the realty described more particularly, as follows: TRANSFER CERTIFICATE OF TITLE NO. T-24,522 Registry of Deeds of Lanao del Norte A parcel of Residential Land (Lot 450-C-3-1-7, of the subdivision plan Psd-12-006373) being a portion of Lot 450-C-3-1 Psd-12-003542, situated in the Barrio of Maranding, Municipality of Lala, Province of Lanao del Norte. Bounded on the E., along line 1-2 by Lot 450-C-1-8; on the S., along line 2-3 by Lot 450-C-3-1-6; on the W., along line 3-4

by Lot 450-A (LRC) Psd-211177; and on the N., along line 4-1 by Lot 450-C-3-1-8 of the subdivision plan. Registered in the name of MERELY M. DIONALDO, of legal age, Filipino, married to Thomas A. Dionaldo and a resident of Maranding, Lala, Lanao del Norte. Containing an area of TWO HUNDRED FOURTY (240) SQUARE METERS, more or less.

NOW, THEREFORE, by virtue of the said Writ of execution and in accordance with Rule 39, Section 19, of the Rules of Court, the undersigned Sheriff will Sell at Public Auction to the highest bidder, for CASH and in Philippine Currency, on July 6, 2016 at 10:00 o’clock in the morning to 2:00 o’clock in the afternoon at the Office of the Clerk of Court, RTC, Branch 21, Kapatagan, Lanao del Norte, the rights interests and participation of Defendant Merely Dionaldo, in the above-described real property together with all improvements thereon in order to satisfy said Writ of Execution.

Kapatagan, Lanao del Norte, May 10, 2016.

(Sgd.) CARMELITO E. PEROCHO Sheriff IV

a detailed outline of the CADP, which will aid the three clusters in the formulation of their respective plans.

Included in the CADP is composing an introduction and summary of the processes in devising the plan; analysis of the covered LCAEC sites; formulation of the vision, mission and goals of the plan; key integrated watershed management strategies to be employed; duration, schedule and costing of the key activities in the plan for the specified clusters.

While a detailed outline of the CADP has been highlighted, Dario Barbarona, a representative from DENR also said that the plan should be integrated ecosystems management-based and geographical information system-generated based.

“In that, it should bring sectors and stakeholders together to jointly plan, design, and manage their landscapes and institutional resources and

it should be culled out from a system that would show spatial or geographical data,” he said.

Completed during the activity is the formulation of the vision, mission and goal statements, which form part of the CADP and an interfacing session between the four national government agencies and LGUs, including the city/ municipal agricultural officers, planning development officers and the local government operations officers, also took place.

Among the salient points raised during the forum is the exact flow in the implementation of the CADP, considering that there are many existing plans (comprehensive land use, annual investment and commodity investment plans, among others) that would be a challenge of executing on the part of the LGUs. “The aim of the CADP is to integrate plans to make it comprehensive and encompassing those agencies

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10TH Judicial Region Branch 17 Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE EJF-2016-107 Upon extra-judicial petition for sale under Act No. 3135 filed by ANN C. GARIBALDO, mortgagee, represented by LADY LOU N. GALARRITA, legal age, single and a resident of Youngsville Subd., Lot 1, Block 6, Igpit, Opol, Misamis Oriental against DODGE L. CABAHUG, mortgagor, married to EDITHA O. CABAHUG, residing at Youngsville Subd., Phase 1, Lot 02, Block 6, Narulag, Igpit, Opol, Misamis Oriental, to satisfy the mortgage indebtedness which as of May 2000, amounts to TWO HUNDRED FIFTY THREE THOUSAND EIGHT HUNDRED FIFTY PESOS (Php 253,850.00), inclusive of interest and penalty charges, exclusive of attorney’s fees and expenses of foreclosure, the undersigned or her duly authorized deputy will sell at public auction on June 8, 2016 at 10:00 A.M. or soon thereafter at the Office of the Clerk of Court, Regional Trial Court, Branch 17, Tourism Bldg., Cagayan de Oro City to the highest bidder, for cash or manager’s check and in Philippine Currency the following property with all improvements to wit: TRANSFER CERTIFICATE OF TITLE NO. T-16421 “A PARCEL OF LAND (Lot 2, Block 8, of the Cons. Subd. Plan, PCS-10-001089, being a portion of Lots 3507-B, 3507-C, 3507-E (LRC) PSD-211989. Situated in the Barangay of Igpit, Municipality of Opol, Province of Misamis Oriental, Island of Mindanao. Bounded on the NW., along line 1-2 by Lot 1 of Block 8 of the Cons. Subd. Plan;x x x x x …. Containing an area of One Hundred (100) square meters, more or less.”

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

In the event the public a the said for whatever reason, the public auction will proceed on the next working day, further notice, posting and publication Prospective buyers may investigate for themselves the title hereinabove described and encumbrances thereon, if any there be.

April 27, 2016, Cagayan de Oro City..

(Sgd.) FE O. BONTUYAN – BULARON Sheriff IV

EXTRAJUDICIAL SETTLEMENT OE SETATE OF THE LATE FLORENCIA G. DON Notice is hereby given that the intestate estate of the late FLORENCIA G. DON died at Iligan City, left A PARCEL OF LAND LOT NO.1491-D-3-A, of subdivision plan, being a portion of lot No. 1491-D-3-, Psd-12015842 containing an area of TWO HUNDRED (200) Square meters more or less that VOLTAIRE DON, FLORINA DON-SANTOS, RONNIE DON & LUDGER DON all of legal age and residing at Iligan City. Hereby adjudicate and partition unto themselves the said parcel of land among themselves by means of this document that for and in consideration of FIFTY THOUSAND PESOS (P 50,000.00) the receipt where of is hereby acknowledge from the Vendee, MARIETES P. BACUS. Hereby SELL, TRANSFER and CONVEY absolutely, in a manner absolute and irrevocable unto the said VENDEE, her heirs and assigns, a Two Hundred (200sq.m) of the hereditary state, free from all liens and encumbrances is the subject of EXTRAJUDICIAL SETTLEMENT OE SETATE OF THE LATE FLORENCIA G. DON Under Notary public ATTY. ANGEL ARIZO LIM JR., per doc. No. 33; page No.7; book No. III; series of 2016 BWM: May 16, 23 & 30, 2016

BWM: May 16, 23 & 30, 2016

BWM: May 16, 23 & 30, 2016

towards rural development,” Baltazar said.

“Convergence is a strategy that integrates all programs and projects such that it is in sync with the existing policies of the involved agencies (DA, DENR, DAR and DILG),” she said.

As the submission of the CADP to the Regional Development Council will be on July 12, 2016 for approval, the body is yet to fast track timeline of activities for the month of May, which includes the submission of the CADP draft; conduct of training on Geographical Information System using Manifold Application; presentation of the semi-finalized draft CADP to local chief executives/ principals; and the conduct of a writeshop on the finalization of CADP with selected PCI representatives.

The CI is implemented through a complementation of resources and expertise among the national government agencies, while putting premium the roles of the LGUs in identifying what interventions should be poured out to their areas of responsibility.

(JLOlson, DA-RFO 10 w/ reports from RVATejada/PIA 10)

Rates... from page 5

from four percent, and the overnight deposit facility is 2.5 percent. The TDF is expected to acquire a rate that is estimated to be between the RRP and overnight deposit facility.

BSP officials said the IRC will have no significant impact on the current monetary policy and that it will be “policy neutral.”

The central bank is also currently in a winding down process to prepare the IRC implementation such as with special deposit account placements which will be allowed to mature without rollover.

In time, IRC should not only limit rate volatility and improve monet ar y policy transmission, but will also encourage banks to manage their liquidity better, according to officials.

Sues... from page 5

distribution agent of LBC Express, while the latter was responsible for paying service fees for every transaction handled by the bank.

The complaint stated that the concurrent LBC Express owners “took advantage” of their LBC Bank positions by neglecting to require the remittance firm to pay the services fees due to the bank.

They were also accused of failing to investigate the cause of LBC Express’ nonpayment of its dues, and failing to impose measures to protect the bank by terminating the ser vice agreement or imposing sanctions on the remittance firm.

Inste a d, t he s e r v i c e agreement was renewed repeatedly from 2005 to 2011.

The 20-unit thrift bank was ordered closed by the Monetar y B oard of the Bangko Sentral ng Pilipinas on Sept. 9, 2011 and placed under PDIC receivership.

The closure affected 33,191 accounts with total estimated deposits of P5.95 billion, P2.97 billion of which was insured by the PDIC. The PDIC had previously filed criminal complaints against the bank’s officials for estafa, syndicated estafa and falsification of commercial documents. The officials have been previously accused of misappropriating the bank’s funds.

Republic of the Philippines Province of Misamis Oriental Municipality of Initao

Republic of the Philippines Province of Misamis Oriental Municipality of Initao

Republic of the Philippines Province of Misamis Oriental Municipality of Initao

NOTICE TO THE PUBLIC

NOTICE TO THE PUBLIC

NOTICE TO THE PUBLIC

CCE-0017-2016 R.A. 10172

Date: May 10, 2016

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No.1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that CLAUDIE MAIKO A. ASEQUIA has filed with this Office, a petition for change of first name from “ “ to “ “ and correction of entry in sex from “FEMALE” to “MALE” or correction of entry in the date of birth from “ “ to “ “ in the certificate of live birth of CLAUDIE MAIKO A. ASEQUIA at Initao, Misamis Oriental and whose parents are ROY O. ASEQUIA and MILAGROS A. AMPER.

Any person adversely affected by said petition may file his written opposition with this Office not later than June 6, 2016.

BWM: May 16 & 23, 2016

(Sgd.) ISAIAS A. JARALES Municipal Civil Registrar

CCE-0007-2016

Date: May 12, 2016

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No.1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that ERMA T. DAJAN has filed with this Office, a petition for change of first name from “REDREL” to “HENRY” and correction of entry in sex from “ ” to “ ” or correction of entry in the date of birth from “ “ to “ “ in the certificate of live birth of REDREL P. DAHAN at Initao, Misamis Oriental and whose parents are LEON G. DAHAN and VICENTA POBLETE.

Any person adversely affected by said petition may file his written opposition with this Office not later than June 6, 2016.

BWM: May 16 & 23, 2016

(Sgd.) ISAIAS A. JARALES Municipal Civil Registrar

CCE-0022-2016 R.A. 10172

11

2014 ppi’S Best in ENVIRONMENTAL Reporting

Date: May 13, 2016

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No.1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that LESLIE VHEER A. JAMIS has filed with this Office, a petition for change of first name from “ ” to “ ” and correction of entry in sex from “ FEMALE ” to “MALE ” or correction of entry in the date of birth from “ “ to “ “ in the certificate of live birth of LESLIE VHEER A. JAMIS at Initao, Misamis Oriental and whose parents are JACINTO B. JAMIS and REGINA E. ALMONIA.

Any person adversely affected by said petition may file his written opposition with this Office not later than June 6, 2016.

BWM: May 16 & 23, 2016

(Sgd.) ISAIAS A. JARALES Municipal Civil Registrar

12

monday|may 23, 2016

Feature

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Italian Businesses invest in Bukidnon

A recent visit to Bukidnon of Mr. Lorens Ziller, the Vice President of the Italian Chamber of Commerce of the Philippines underlined the growing interest this region is having for foreign investors in the food chain sector.

He noted: “With the population growth in the Philippines and the steadily increasing demand in locally grown produce there are huge potentials for our member companies and investors here in Bukidnon and Northern Mindanao. This is the ideal place to operate from farming to food processing, food distribution and export. The Italian Chamber is helping to bring operators together and we help them in their start up.”

Italian investor and entrepreneur Mr. Marco Cargnelli has just recently started planting and growing tomatoes, bell peppers, chili peppers to cover the first of his 12 ha his company acquired in the area.

He is absolutely convinced of the potential that lays in farming, especially in custom growing for various clients he already was able to find just only in the Philippines.

“We also have orders from Japan and Russia but in this first phase we are focusing on satisfying the demand of the local market.

Thanks to our new technologies and organic fertilisers we are able to grow a superior product that tastes better and lasts longer.

Ideal also for the international market.”

Italpinas Development corporation, also a member of ICCPI, was the first foreign participated company

pioneering and betting on Northern Mindanao as an investment location by building what is now the famous Primavera Residences in Uptown Cagayan

de Oro. The developer is now launching its second project “Primavera City” next month, also located just beside SM City in CdO. The success of the company is the

proof that with the right partnerships contribute to create jobs and at the same time bring in a refreshing green design and architectural innovation.