BusinessWeek Mindanao (November 13, 2019)

BusinessWeek M I N DA N A O CREDIBLE

Volume X, No. 67

AS OF 6:00 PM NOV. 12, 2019 (TUESDAY)

FOREX

X

US$1 = P 50.860

37 cents

PHISIX

X

8,009.38

56.38

YOUR MINDANAO-WIDE BUSINESS PAPER

RELIABLE

points

Briefly ‘Kasambahay’ wage hike ZAMBOANGA CITY -- Domestic workers or “kasambahays” in Region 9 (Zamboanga Peninsula) are set to receive a salary increase of P1,000 a month, effective November 22.

Regional Tripartite Wages and Productivity Board (RTWPB) secretary Joel Ijirani, said in a press conference late Friday that Wage Order RIX-DW-02 on granting a P1,000 monthly wage increase to the domestic workers' minimum salary, issued last October 22, takes effect 15 days after its publication in a newspaper of general circulation.

“The wage order will take effect on November 22 since it was published on November 7,” Ijirani said.

“Kasambahays” working in cities and first-class municipalities will receive a minimum monthly salary of P3,500, up from P2,500, while those working in other municipalities will receive a minimum of P3,000 a month, up from P2,000, he said.

Palay prices fall THE average farmgate price of palay, or unmilled rice, declined in the second week of October by 0.2% week-on-week to P15.53 per kilogram (kg), the Philippine Statistics Authority (PSA) said.

According to PSA’s weekly price update, the average wholesale price of well-milled rice fell 0.5% week-on-week to P37.85 per kg. Retail prices fell 0.1% to P41.89.

The average wholesale price of regular-milled rice fell 0.5% to P33.70 per kg, week-on-week.

Retail prices declined 0.8% to P37.22.

IN-DEPTH

P15.00

Direct air flights usher more Chinese arrivals www.businessweekmindanao.com

Market Indicators

We strive for Excellence!

Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

Wednesday|November 13, 2019

J

Thank you for trusting us!

By BONG S. SARMIENTO, MindaNews

INJIANG City — Chinese tourist arrivals from here to Davao City have been on the uptrend following the signing of a sisterhood agreement between the two cities and the launching of the direct air flight last year, officials here said.

SARDINES SEASON. AN elderly fisher checks his fishing net in Barangay Bonbon, Cagayan de Oro City before going to sea as sardines, or locally known as "tamban", are abundant during this season. photo by gerry lee gorit

Davao City set to host Malaysia-PH biz confab THE Malaysia-Philippines Business Forum is slated in Davao City on November 20, 2019, at the Marco Polo Davao Hotel.

Organized by the Malaysian

Almost a year ago, Davao City Mayor Sara Duterte and Liu Wenru signed the twinning pact in this city, where Philippine national hero Dr. Jose Rizal and Chinese-Filipino business magnate Henry Sy traced their roots.

Huang Yiming, president of the Fujian Your Tour International Travel Agency Co. Ltd., told Mindanao-based journalists on an exposure trip here that tourist traffic

between the two cities is picking up, although Chinese tourists far more outweigh their Filipino counterparts in terms of volume.

“We have recorded a 50 percent increase in Chinese tourists going to Davao following the signing of the sisterhood agreement and the launching of a direct flight between the two cities,” he said.

The air route between FLIGHTS/PAGE 11

E x te r na l Tr a d e D e vel opme nt C or p or at i on ( M AT R A DE ) i n partnership with the Davao Chamber of Commerce & Industry, the HOST/PAGE 11

'Team CDO' readies help, donations for quake victims A COLLECTIVE group of civic organizations and individuals on Sunday prepared donations for transport to the earthquake victims in Davao and Cotabato provinces.

The group called "Team CDO,"

has been calling for donations and help since the first week of November after the successive earthquakes that devastated the south-central areas of Mindanao.

DONATIONS/PAGE 11

MONKEY’S KITTEN. A heartwarming scene as monkey takes care of an orphaned kitten in Buena Vida, Makilala, North Cotabato, in one of the houses destroyed by a series of earthquakes including four above Magnitude 6 between October 16 and 31. At one point, the monkey even breastfed the kitten. mindanews photo by ferdinandh b. cabrera

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

2

Local

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

WEDNESDAY|NOVEMBER 13, 2019

Ex-manager faces raps for P8.3-M cash, jewelry heist

A

By JIGGER JERUSALEM, PNA

FORMER manager of a popular chain of pawnshops in Cagayan de Oro City is facing charges after he was accused of stealing pieces of jewelry and cash estimated worth P8.3 million from his previous employer, police said Monday.

Maj. Evan Viñas, city police spokesperson, identified the suspect as

26-year-old John Paul Cruz, the former branch manager of Palawan Pawnshop in Vamenta Boulevard, Barangay Carmen here.

Cruz, a resident of Barangay Lumbia here, will be charged with largescale theft, Viñas said.

Viñas said Cruz was “honorably discharged” by the pawnshop management for “misappropriation”

of company funds six months ago.

It was not immediately known how much Cruz had allegedly embezzled, but Viñas said the company has not pressed charges against the suspect.

According to a police report, the suspect took away P8 million worth of jewelry and cash amounting to P319,330 from the pawnshop’s vault on Saturday night.

The report said Cruz

used a thin plastic card to open the pawnshop’s main door. It also noted the suspect entered the establishment “without any force of entry”.

While inside the pawnshop, police said Cruz managed to get hold of a set of keys to open the two padlocks of the vault before finally opening it

with a combination lock that was unchanged after he left the company.

Police said Cruz also carted away the HEIST/PAGE 11

Human intervention, climate change pose threats to Agusan Marsh BUTUAN City – The incursion of human activities, as well as the growing effects of climate change, are among the threats to the Agusan Marsh Wildlife Sanctuary (AMWS), one of the biggest wetlands in the country that settles in the heart of Caraga region.

These were the concerns raised by participants during the

three-day Agusan Marsh Platinum Anniversary National Conference that opened on Monday (November 11) here.

Among the objectives of the conference is to gather researchers, local government units, government line agencies, students, non-government organizations, and other stakeholders to present and discuss the pressing

issues that confront the wetlands in the country, particularly the AMWS. The opening day of the conference was graced by Agusan del Sur Governor Santiago Cane Jr., Regional Executive Director Atty. Felix S. Alicer of the Department of Environment and Natural Resources in Caraga Region (DENR13), Dr. Annadel Cabanban of Wetlands International, and Dr. Herwig Mayer of GIZ, a German Development Agency for International Cooperation.

Members of the academe present during the gathering included representatives from the Caraga State University, THREATS/PAGE 11

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

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

WEDNESDAY|NOVEMBER 13, 2019

PH food makers seek China market SHANGHAI, China -- Filipino food manufacturers are participating in China’s biggest buying expo to seek opportunities in the world’s largest market.

More than 30 Filipino companies have been showcasing their products during the 2nd China International Import Expo (CIIE) at the National Exhibition and Convention Center here since November 5.

Filipino companies and organizations participating in this year’s CIIE include 22 Propack Asia Corp.; Agrinurture, Inc.; Benvelle Corp.; B-G Fruits & Nuts FOOD/PAGE 11

DTI chief: No price hike for 134 Noche Buena products

T

HE Department of Trade and Industry (DTI) reported that a total of 134 Noche Buena products have maintained their prices while six products have lower prices in 2019 compared to last year’s suggested retail price (SRP) list.

In a 2018 versus 2019 comparative SRPs of Noche Buena products released by the agency, 134 product lines, such as queso de bola, cheese, sandwich spread, mayonnaise, spaghetti,

elbow and salad macaroni, spaghetti sauce, tomato sauce, as well as creamer products have maintained their prices since last year.

Trade Secretary Ramon Lopez shared the news amid recent reports that 92 products have increased their prices. Every year, there are increases for a few premium brands and most would have minimal increases. However, brands for mass-based markets do not usually change.

“This is due to their fear of competition and the probability of losing

market share in a pricesensitive segment,” Lopez said in a statement.

Six products, including queso de bola, spaghetti, and tomato sauce, even decreased their prices

by P11. Among the six products are Danes Cheese Ball, Amigo Segurado spaghetti, La Filipina spaghetti, Del Monte Filipino Style tomato sauce, and Del Monte Original tomato sauce.

Meanwhile, among the 134 products with no price increase, nine were queso de bola (Ques-O,

Vista Land posts P9.1-B net income in 9 months VISTA Land & Lifescapes, Inc., one of the country’s leading integrated property developers, posted a 12-percent growth in net income for the first nine months of 2019 to P9.1 billion from P8.1 billion in the same period last year.

Consolidated revenues also increased year-onyear by 9 percent to P34.4 billion, while leasing

3

CorporateWorld

revenues for the period rose by 13 percent to P5.8 billion.

“We are well-poised to achieve another record year this 2019 as Vista Land continues to deliver solid performance both from our leasing and residential businesses,” Vista Land Chairman Manuel Villar Jr. said in a statement.

Villar said the

company’s reservations sales grew 8 percent during the period to PHP61.6 billion, which is still majority overseas Filipinos and over 90 percent end-users.

“As what we have said in the past two quarters, we remain bullish for the industry, given the sustained demand for our housing products as well as our success

in our leasing business propelled by the steady growth in the disposable income, overseas Filipino remittances, sound Philippine macroeconomic fundamentals, and the government’s drive to accelerate economic activities and infrastructure developments outside Metro Manila, where INCOME/PAGE 11

Magnolia, Che-Vital, Danes); 11 were cheese (Eden, Danes Classic, Kraft Cheddar, CheVital quickmelt); 14 were sandwich spread (Eden, Cheez Whiz, Best Food, Lady’s Choice); 14 were mayonnaise products (Eden, Best Food, Lady’s Choice); 13 were spaghetti products (El Real, Fiesta, La Filipina, Royal, Sunshine, Ideal Gourmet, Balducci, San Remo); 17 were elbow and salad macaroni (Sunshine, Fiesta, Ideal Gourmet, Royal); 19 were spaghetti sauce products (Amigo Segurado, UFC, Del Monte, Sunshine, Fiesta, Royal); 10 were tomato sauce (UFC, Del Monte, Amigo); and three were creamer products (Angel Krem, Alaska Crema Combi, Asada).

Ham manufacturers have introduced new sizes for some of their products.

These variations are available in smaller packs, which offer lower cash out for consumers.

DTI recently issued the SRPs of Noche Buena products, which serve as a

price guide for consumers as they prepare for the holidays.

Noche Buena products are not considered part of the necessities and prime commodities, and they are not under price control.

Lopez advised consumers to purchase their Noche Buena and Media Noche needs at supermarkets, where prices are monitored by the DTI. To help consumers, Lopez shared smart tips for Noche Buena and Media Noche shopping: * Prepare your shopping list using the SRP list at www.dti.gov.ph before going to the leading supermarket in your area.

You can also check it via the e-Presyo mobile app. * Watch out for promo bundle packs in the promo section. Most food manufacturing companies offer bundle packs of Noche Buena products, which provide savings.

Some of these bundle packs are spaghetti with sauce and cheese; and macaroni with mayonnaise PRODUCTS/PAGE 11

4

Opinion

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City.

It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463-826-272-000 – VAT. Reg., and with Business Permit No. 2017-02942. Tel. Nos.: (088)856-3344, (088) 810-100, 0923432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com

ALLAN MARIO MEDIANTE

Vice President for Corporate Affairs

RUFINO T. MAGBANUA

Vice President for Business Development

JOE FELICILDA

Vice President for Administration

JOHN AARON M. DEL BANDO

Vice President for Events and Promotions

JOE PALABAO

Vice President for Marketing

MIKE BAÑOS

Vice President for Digital

HAVE MY SAY

KLAUS DORING Many of us shy away from boredom, but it’s actually very good for creativity.

Many of us lead incredibly busy lives, constantly hopping from one task to the next, and when we’re blessed with a little bit of downtime, we pick up our phones, and scroll the boredom away.

But is that the best way

NELSON CONSTANTINO Editor-in-Chief

GILBERT Y. CHAO

JUN AYENSA

Motoring Editor

Regional Editor - Caraga

MIKE BAÑOS Contributing Editors

ATTY. ANTONIO S. SORIANO

Feature Editor

2f, ICS Building Tel.No.: 881-0176 Tiano cor. Montalvan sts.

Legal Counsel

CLIFFORD SANTILLAN

ATTY. MARIO T. JUNI

CHAINCERLIE SUMALPONG Advertising

Juni Law Office Cruz Taal St., CDO Legal Counsel

JOE PALABAO Layout Artist

DAVAO MARKETING OFFICE Door 223, Doña Segunda Bldg., CM Recto Ave., Davao City Telephone #: (082) 298-8815 Regional Mktg Manager-JOE PALABAO- 0926-8430152 Circulation-JOHN PAUL AQUINO, 0907-331-5640

Member: Philippine Press Institute Oro Chamber

Biggest bank account Think a minute…Imagine that ever y morning somebody put $86,400 in your bank account. Then, every night whatever you didn’t spend that day was taken out of your account and thrown away. Wouldn’t you take out every cent of your $86,400 and spend it every day? So none of it would be wasted or thrown away.

Did you know that you really have a bank account just like that one? It’s called TIME. Every morning our time bank gives you and me 86,400 seconds. Then, every night the time we did not use that day is gone.

So we must use it all up or lose the time each day we do not spend well. You use it or lose it. Then what are the best bargains and deals in life which are worth our valuable time? Would you like to know the two best investments of your time that will bring you real success and wealth in your life?

The first smart investment of your time is people. Spend your time with your family. At the end

FAMILY BUSINESS COACH

Cell No: 09352379999

MANILA OFFICE: 9th Floor, Unit 918, CityLand Herrera VA Rufino Cor. Valero St., Salcedo Village, Makati City Tel. # : 5555392,Cell No.: 0977-152-8860 LANI VALLIDO-Marketing Manager

THINK A MINUTE

JHAN TIAFAU HURST of your life, you will never be sorry for the time you spent with your children, your wife or husband, your brothers and sisters, and your parents. We should also spend our time on the many people all around us each day to help make their lives happier. Spending your time on people gives you wealth and happiness that you can never lose The second, yet by far most important, investment of your time is to spend it with your own Maker. He is the Person Who Himself gives you every second you receive to keep living. You see, God didn’t just make us and then forget us. Quite the BANK/PAGE 10

WEDNESDAY|NOVEMBER 13, 2019

I am feeling so bored!

BUSINESSWEEK MINDANAO CORPORATION Publisher DANTE M. SUDARIA President/CEO

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

PROF. ENRIQUE SORIANO When family members do not talk, they will never solve their problems. Unresolved problems confronting family owned businesses are the biggest reason that 70% of family businesses don’t make it to the 2nd generation and 88% won’t make it to the 3rd generation. My advice is straightforward: The more difficult it is to talk about an issue, the more important it is to talk about it.

What does this have to do with talking about difficult issues? In a well written

use of our time?

Sandi Mann, a senior p s yc h ol o g y l e c tu re r at the University of Central Lancashire in the UK says boredom is an essential part of the creative process and should be applied to our day-to-day lives.

While being a columnist of "Tinig ng Bayan" (published in Abra) during the 1980s, I remember our Tai w an e s e c o ord i n at or Cristina Lising-Geronga, who expressed herself in innumerable write ups about the topic loneliness. Sure, "Tinig ng Bayan" has been a publication or Filipinos abroad. Loneliness, borne

by Filipinos living abroad while missing their families in the Philippines became a very "normal" expression.

During that time, my Philippine mentor, the late Monsignor Professor Dr. Dr. Hermogenes E. Bacareza, Chaplain of the Philippine C om mu n it y i n B e r l i n , started together with me publishing "Ang Mabuhay".

Believe me, "loneliness" became a main topic in many write-ups.

Nowadays, loneliness and boredom seem to be the splitting image of each other - so to speak being as like as two peas in a pod. While browsing in social networks like Facebook, one can find more and more comments as in "When Boredom Strikes" or so. Boredom, ending up in loneliness - or vice versus?

How comes that loneliness and/or boredom are still a general topics in

our today's society?

L oneliness has b e en called one of the main diseases even during the last century. It really doesn't strike not only the Filipinos abroad and their love ones back home. Too often loneliness is being followed by alcoholism, drug abuse and even suicide. Yes, loneliness b ecomes a mo dern day plague. I observed several people trying to surround themselves with so-called "friends" only to find that such relationships are often shallow and unsatisfying.

Loneliness can be painful but being lonely or alone at that is not always a bad thing. Ask yourself, how do you use your time, if BORED/PAGE 10

If we talk, we solve article by the Family Business Consulting Group (FBCG) e nt it l e d “ T he Bus i ne ss Golden Rule,” it mentioned that “it is communication that leads the list as the most important element to make things work. The typical problems that plague family businesses, such as lack of trust or failures to professionalize are usually the result of poor communication. As these problems can literally take down the business, good communication is essential.

However, the problem is that communication in a family business is not a simple task.

In fact, you must be able to simultaneously effectively communicate as a manager, owner and family member.

These roles are difficult and each requires different skills, tactics and processes.”

Why is there a breakdown in family relationships?

The biggest differentiator between the families that last

and those that fall apart is open, honest, transparent communication. And that me ans gett ing into t he dif f ic ult conversations.

Applying these values in your family business is the best advice for success in every situation since it reduces assu mpt i ons , m it i g ate s perceived unfairness and builds trust.

This is not easy work but fortunately, there are ways of improving communication.

Fo r f a m i l i e s m i r e d i n conflict where members have not had authentic sibli ng communi c at i on for years, the solution is not through prayers alone but through a deliberate effort in getting every family member back in the saddle with rules that will manage the “reintegration” of what was once the family’s shared vision and values introduced by the founding generation when they were still alive.

When the senior

generation member is no longer capable of leading the enterprise or is incapacitated due to old age, it is important that the next generation offspring (usually the eldest sibling or administrator) assume control and reign in his or her siblings. The objective is to re-energize the family commitment, design a contingency plan and prepare the long and ch a l l e ng i ng pro c e ss of ownership, business and wealth transfer. Delaying the process is setting up the family for failure.

C r i t i c a l l y, p l a n n i n g ahead in anticipation of a future event like death of a key shareholder will minimize the predictable dangers that can compromise relationships. Any of these events from misalignment of family values, managing a “black sheep” sibling, major fight or rivalr y between generations of family TALK/PAGE 10

My country a war zone?

IT'S mid-November and Christmas season in the Philippines is in the air.

Despite natural calamities that hit us, the survivalist Filipinos will find the way to celebrate the season. And yes, in disaster-hit towns and cities in Cotabato and Davao del Sur provinces, kind hearted men and women continue to give to scores of victims. Elsewhere, the price of “hamon” had gone up because hog growers were hit by African swine fever, but there is always spring chicken and pancit to celebrate with.

As of this writing, inflation has gone down to less than 1% and the economy is in the vicinity of 6.2% and can only go up because of the renewed and vigorous spending for the last quarter. The country’s dollar reserves rose to $86-billion in September, thank you to the economic team of the Duterte government headed by Finance Sec. Sonny Dominguez. Tourist

arrivals as of September this year had breached the Department of Tourism targets despite the fact that there seems to be no perceptible program that prodded that. The good news of peace has reached so many shores.

We have our own shares of natural calamities and some problems like the plight of our farmers which the Department of Agriculture seemly cannot find solution and a Department of Health Secretary who is not aware we have more than enough drug rehabilitation centers in the country but certainly Philippines is not a war zone as Maria Ressa, the journalist in the pay check of Omidyar Network and National Endowment for Democracy, told CBS News last week. “ Wo r s e t h a n a n y war zone”, she describes the Philippines. But the journalist who had received so many awards for allegedly standing against

t he oppressive D uter te gove r n m e nt i s c om i ng home for Christmas. Her last tirade against Duterte in various media forums in the US must have pleased Omidyar and NED she may have been given a furlough to fly back to the Philippines.

Ressa has a dual citizenship: American and Filipino. The Philippines is what she use to create an image for herself as a brave and crusading journalist and the US of A her platform to conjure fairy tales twisting facts and figures to make her the heroine of the press.

All at the expense of every Filipino.

Ressa is only for Ressa and I don’t know whether the investors of Rappler are happy. In a press forum in London where she got entangled in a tussle with Canadian journalist Ezra Levant, who dubbed her a “paid hack of Omidyar”, s h e a d m it t e d t h at s h e received $4.5-million from

LETTERS FROM DAVAO

JUN LEDESMA Omidyar Network instead of just $1-million which she said Rappler had issued Philippine Depositor y Receipts (PDRs). We got to know this from published reports following discovery by the Securities and Exchange Commission of the investments of ON into Rappler which is contrary to the constitution of the Philippines. Realizing that Ressa and company are in a tight fix, Omidyar declared that it is donating the PDRs to the 14 staff members of Rappler, Ressa included.

COUNTRY/PAGE 10

5

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

Banking&Finance Fiscal policy needed to sustain growth recovery: DOF official WEDNESDAY|NOVEMBER 13, 2019

A

RANKING Department of Finance (DOF) executive said officials of various government agencies need to work closely with legislators for the passage of the proposed 2020 budget to further boost domestic growth.

"Fiscal policy will continue to be a pillar for high, sustainable, and inclusive growth," Finance Undersecretary Gil Beltran said in an economic bulletin on Friday.

Fiscal policy refers to the use of taxation and government spending to influence the domestic economy.

In the first half of 2019, domestic growth, as measured by gross domestic product (GDP), averaged 5.5 percent, lower than the government's full-year target of between 6 percent and 7 percent, due to the impact of the delay in the approval of this year's national budget, which was only signed into

law in mid-April.

The government's inability to spend based on programs resulted in the slip of domestic expansion from 6.3 percent in the last quarter of 2018 to 5.6 percent in the first quarter this year and to 5.5 percent in the second quarter.

The government thus implemented a catch-up spending program that relied on, among others, the faster implementation of the various infrastructure projects of both the Department of Transportation and the Department of Public Works and Highways.

Last September, government expenditures posted a doubledigit year-on-year growth of 39.01 percent.

This helped lift growth to 6.2 percent in the third quarter, which is higher than the previous year’s 6 percent.

Citing Philippine Statistics Authority data, Beltran said public construction in the third quarter this year expanded by 11 percent, a recovery from declines in the previous quarters.

Private sector construction rose by 19.1 percent from July to September, almost twice the 10.4 percent in the same period last year.

However, investment remained weak in the last quarter due to global growth worries, he added.

Meanwhile, Beltran said tax effort, or the ratio of tax collections to GDP, as of endSeptember already reached 15.7 percent, almost near the 15.8-percent level hit in 1997.

"With ample resources to mobilize, agencies should nevertheless continue working with Congress for the timely passage of the 2020 budget," he added. (PNA)

BSP orders closure of two rural banks THE BANGKO SENTRAL ng Pilipinas (BSP) ordered the closure of Batangasbased Maximum Savings Bank., Inc., mandating the Philippine Deposit Insurance Corp. (PDIC) to take over the rural bank.

The lender was prohibited from doing business on Nov. 7 pursuant to Section 30 of the amended Republic Act. No. 7653 or the New Central Bank Act, according to a circular letter from the central bank.

“Maximum Savings Bank, Inc. has a network of three branches with its main branch located in Batangas City and the other branches located in Sabang and Calapan City, both in Oriental Mindoro,” the BSP said in a statement.

Aside from Maximum Savings Bank, AMA Rural Bank of Mandaluyong, Inc. was also ordered to shut down. The latter has

said it will challenge the closure and will seek ways to resume their operation.

“AMA Bank assures our clients, employees, and stakeholders that we are fit to operate in every capacity. We challenge the closure as unreasonable.

Guided by legal measures, we are exploring all possible courses of actions to resume our full operations and continue to serve you,” the bank said in a statement on Sunday.

With its main branch in Mandaluyong, AMA Rural Bank of Mandaluyong has a total of 10 branches that are in Pasig; Cainta and Morong, Rizal; Bacoor, Cavite; San Pablo and Calamba in Laguna; Baliuag, Bulacan; San Fernando, Pampanga; and Baguio City.

“The bank’s management regrets this development as the bank based on its latest financial statement filed

with the Bangko Sentral ng Pilipinas (BSP) is the 15th largest rural bank in the country in terms of assets with total resources at P2.76 billion as of end September 2019,” the bank said.

“The bank is considered as the fifth largest in capitalization with P1.04 billion, and a net loan portfolio of P1.90 billion, consisting mainly of teacher salary loans, estimated to be the 13th largest among rural banks.

The bank is liquid with its shareholders’ capital injection of an additional P405 million, and a total deposit due from BSP/ other banks amounting to P246 million,” it added.

The BSP assured depositors of both shuttered banks that the PDIC will be “ready to serve” valid deposit claims and complete the processing of claims in accordance to PDIC’s guidelines.

Moreover, the central bank assured that the shutdown of both rural lenders will not do harm to the Philippine banking system considering their “relatively small sizes.”

“As of 30 June 2019, their total assets are equivalent to only 0.02% and 0.002%, respectively, of the total assets of the banking system. The overall Philippine banking system remains sound and stable with ample liquidity and high level of capitalization as BSP continues to promote good governance among its supervised institutions to ensure the soundness of the banking system and to protect the interest of the banking public,” the BSP said.

Despite the closure of more rural banks this year, central bank data showed that total assets of small lenders grew 4.9% to P275 billion from P262 billion as of end-June last year.

FDIs down 39.7% in August

THE country’s net foreign direct investments (FDIs) fell 39.7 percent year-onyear to $4.53 billion as of end-August from $7.53 billion, the Bangko Sentral ng Pilipinas (BSP) said yesterday.

For the month of August alone, net FDI inflows was down by 45.1 percent to $416 million from same time last year of $758 million.

According to the BSP, the weak global growth outlook has sidelined investors during the period. “(The) ongoing

uncertainty in the global environment continued to dampen investor sentiment, which caused postponements in investment plans,” it said.

For the first eight months, non-residents’ net investments in debt instruments declined by 32.5 percent to $3.3 billion or from $4.9 billion same time last year, while equity capital recorded a bigger decline of 73.4 percent to $536 million from $2 billion.

Investments in debt instruments are mainly

intercompany borrowings/ lending between foreign direct investors and their subsidiaries/affiliates in the Philippines.

Net equity capital investments also decreased from January to August by 49.6 percent to $1.1 billion compared to $2.2 billion same time in 2018 and this was “coupled with the 195.6 percent increase in withdrawals to $578 million (from $196 million),” noted the BSP. Equity capital placements were made by investors from Japan,

the US, Singapore, China, and South Korea. These capital were invested in these sectors: Financial and insurance; real estate; manufacturing; transportation and storage; and administrative and support service.

The BSP said reinvestment of earnings, in the meantime increased by 15.6 percent to $671 million as of end-August, compared to $581 million last year.

For the month of August only, FDl net FDI/PAGE 11

OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

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 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 PLANTERS DEVELOPMENT BANK

Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723

PNB- LKK MALL NORTH CONCOURSE

LKK Mall N.Concourse Cdoc 8574149/8575682

PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 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

SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625

EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081

SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632

EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331

STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168

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

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

6

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

WEDNESDAY|NOVEMBER 13, 2019

Magic Cracker surprises CDO with Magic Moments

Mall goers experienced magical moments with family and friends during Jack ‘n Jill Magic Crackers’ Magic Moments event last October 12 at Limketkai Mall in Cagayan de Oro City.

The game booths at Magic Moments event last October 12 were a sure hit! Mall-goers at Limketkai mall in Cagayan de Oro lined-up and enjoyed Jack ‘n Jill Magic Crackers’ retro-arcade inspired activities.

Jack ‘n Jill Magic Crackers continues to surprise and give joy to the snack-loving Filipinos.

This time, through a retro arcade-themed Magic Moments event in Limketkai Mall, Cagayan de Oro last October 12, 2019.

Magic Moments brought people back in time with its retro-themed photo booth and fun arcade activities.

Mall-goers enjoyed the Magic Hoops: a basketball free-throw game, Onion Chives Surprise: an old school arcade attraction, and Apat Dapat booth: a slot machine-inspired game.

The best part was how participants were able to take home their favorite Magic Flakes products as prizes.

Participants were also treated to a surprising Magic Moment when all four lightning icons of the Apat Dapat booth matched.

First, loads of Magic Flakes products came out of the Apat Dapat booth as prize. Then, an energetic dance flash mob by the Magic Squad surprised and entertained the audience.

Magic Moment highlight: Jackpot winners were surprised with an energetic dance flash mob by the Magic Squad and were given exciting prizes at the Magic Moment event at Limketkai Mall in Cagayan de Oro last October 12.

Three lucky participants experienced this Magic Moment and won special prizes. Those who were present during the Magic Moment also went home with big smiles as they also received Magic Crackers giveaways after the flash mob dance.

Check out Magic Crackers’ Facebook account (@MagicCracker) to see

how the Kagayanons experienced this Magic Moment.

Watch out for more surprises from Jack ’n Jill Magic Crackers. You never know… the next Magic Moments might just come to your neighborhood!

Universal Robina Corporation’s (URC) Jack ‘n Jill Magic Crackers has been delighting Filipinos with its

different cracker formats Magic Flakes in plain, cheese and onion chive flavors; Magic Creams in butter, chocolate, peanut butter and condensada flavors; Magic Juniors in plain, chocolate, butter & berry and condensada flavors; and Magic Chips in cheese and barbecue small and big packs, as well as sour cream ‘n onion in small packs.

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

WEDNESDAY|NOVEMBER 13, 2019

7

Environment

Thousands join ‘Takbo Para sa Kalikasan’ for Manila Bay rehab

By MANNY BALBIN, PNA

GOVERNMENT officials as well as ordinary folks showed their cooperation and support for the rehabilitation of Manila Bay by participating in the "Takbo Para sa Kalikasan 2" run held on Sunday at the Bulacan Sports Complex in this city.

The event dubbed as "Philippines Run in Support of the Battle for Manila Bay" was led by Senator Cynthia Villar as keynote speaker; Bulacan Governor Daniel Fernando; Department of Environment and Natural Resources (DENR) Undersecretary Benny Antiporda; Department of the Interior and Local Government (DILG) Assistant Secretary for Special Concerns Marjorie N. Jalosjos; Presidential Communications

Operations Office (PCOO) Assistant Secretary Ramon L. Cualoping III, and National Youth Commission (NYC) chairperson Ryan Enriquez.

Jalolos said the run was organized by DILG, in cooperation with the DENR, the provincial government of Bulacan and other government agencies, in a bid to inculcate public awareness in the need for strengthened calls for action over the bay’s rehabilitation.

"We encourage everyone to be serious and support the cleanup of Manila Bay for the next generation, including Bulacan, Bataan, Pampanga, all coastal areas contributing sewage to Manila Bay, not just the

National Capitol Region (NCR), but all of us. Let's start with our family, our community and our village," she said.

“We started the 'fight' in Manila Bay but this is not the end of our fight for nature. Let's start the campaign to protect the environment in our diverse community,” she added.

Jalosjos also said the "Takbo Para sa Kalikasan 2" had the most number of participants compared to the previous event.

Meanwhile, Villar, chairperson of the Senate Committee on Environment and Natural Resources, said DILG's aim for this run was to draw attention and support for the rehabilitation of coastal areas and preservation of water sources and natural resources.

RUN FOR MANILA BAY REHAB. Senator Cynthia Villar (second from left) explains the projects and programs of various government agencies with a mandate for the comprehensive rehabilitation of Manila Bay in a press conference after the "Takbo Para sa Kalikasan 2" held Sunday (Nov. 10, 2019) at the Bulacan Sports Complex in the City of Malolos. Also in photo are (from left to right) DENR Undersecretary Benny Antiporda, Bulacan Gov. Daniel Fernando, DILG Assistant Secretary for Special Concerns Marjorie N. Jalosjos, PCOO Assistant Secretary Ramon L. Cualoping III and National Youth Commission chairperson Ryan Enriquez. (Photo by Manny Balbin)

Manila Bay is bordered by five coastal cities of the NCR and coastal provinces of Bataan, Pampanga, Bulacan, and Cavite.

“We are glad to have more and more protectors of Manila Bay, so to speak, who have been very vigilant. Leading the way is the DILG which is among the 13 agencies

helping us keep Manila Bay clean. They are being directed by the Supreme Court through a writ of continuing mandamus to rehabilitate, restore and conserve Manila Bay. So, they are called 'mandamus agencies,'” she added.

Aside from DILG, the other mandamus agencies, Villar said, are

the DENR, Department of Education, Department of Health, Department of Agriculture, Department of Public Works and Highways, Department of Budget and Management, Philippine Coast Guard, Philippine National Police-Maritime Group, Philippine Ports Authority,

The world is getting wetter, yet water may become less available for North America and Eurasia Plants will demand more water in the future making less water available for people

SEWERAGE TREATMENT PLANTS. Governor Daniel R. Fernando talks about the construction of sewerage treatment plants in every provincial and district hospital in Bulacan after the "Takbo Para sa Kalikasan 2" fun run at the Bulacan Sports Complex, Malolos City, Bulacan on Sunday (Nov. 10, 2019). He said some PHP58 million was allotted for the construction of sewerage treatment plants in provincial and district hospitals. (Photo by Manny Balbin)

Bulacan allots P58-M for sewerage treatment plants in hospitals

By MANNY BALBIN, PNA

A total of PHP58 million has been allotted for the construction of sewerage treatment plants in the provincial and district hospitals being administered by the provincial government of Bulacan.

This was disclosed

by Governor Daniel R. Fernando after the successful "Takbo Para sa Kalikasan 2" fun run held Sunday at the Bulacan Sports Complex in this city.

He said the establishment of sewerage treatment plants is part of the initiatives of the provincial government to help rehabilitate Manila Bay. "The sewerage

treatment plant is now our priority after concentrating on the expansion of government hospitals and facilities.

This is to ensure that the contaminated wastes from the hospitals will not be dumped into the waters and that it will never reach Manila Bay," Fernando said.

Based on the approved 2020 Annual Investment Program (AIP), he said the sewerage treatment plant for Bulacan Medical Center in this city has an allocation of PHP10 million while the Rogaciano Mercado Memorial District Hospital in Santa Maria town has PHP8 million

With climate change, plants of the future will consume more water than in the present day, leading to less water available for people living in North America and Eurasia, according to a Dartmouth-led study in Nature Geoscience. The research suggests a drier future despite anticipated precipitation increases for places like the United States and Europe, populous regions already facing water stresses.

The study challenges an expectation in climate science that plants will make the world wetter in the future. Scientists have long thought that as carbon dioxide concentrations increase

in the atmosphere, plants will reduce their water consumption, leaving more freshwater available in our soils and streams. This is because as more carbon dioxide accumulates in our atmosphere plants can photosynthesize the same amount while partly closing the pores (stomata) on their leaves.

Closed stomata means less plant water loss to the atmosphere, increasing water in the land. The new findings reveal that this story of plants making the land wetter is limited to the tropics and the extremely high latitudes, where freshwater availability is already high and competing demands on it are low.

For much of the midlatitudes, the study finds, projected plant responses to climate change will not make the land wetter but drier, which has massive implications for millions of people.

"Approximately 60 percent of the global water flux from the land to the atmosphere goes through plants, called transpiration. Plants are like the atmosphere's straw, dominating how water flows from the land to the atmosphere. So vegetation is a massive determinant of what water is left on land for people," explained lead author Justin S. Mankin, an assistant professor of geography at

Drips from faucet in dry environment (stock image).

Credit: © Angelo D'Amico / Adobe Stock

Dartmouth and adjunct research scientist at Lamont-Doherty Earth Observatory at Columbia University. "The question we're asking here is, how do the combined effects of carbon dioxide and warming change the size of that straw?"

Using climate models, the study examines how freshwater availability may be affected by projected changes in the way precipitation is divided among plants, rivers and soils. For the study, the research team used a novel accounting of this precipitation partitioning, developed earlier by Mankin and colleagues to calculate the future runoff loss to future vegetation in a warmer, carbon dioxideenriched climate.

The new study's findings revealed how the interaction of three key effects of climate change's impacts on plants will reduce regional freshwater availability. First, as carbon dioxide increases in the atmosphere, plants require less water to photosynthesize, wetting the land. Yet, second, as the planet warms, growing seasons become longer and warmer: plants have more time to grow and consume water, drying the land.

Finally, as carbon dioxide concentrations increase, plants are likely to grow more, as photosynthesis WATER/PAGE 10

8

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

WEDNESDAY|NOVEMBER 13, 2019

For NOMINATIONS of ENTRIES ON THE FOLLOWING CATEGORIES, please send photo and company/contestant profile to Mindanao Daily/BusinessWeek Secretariat, Tanleh Bldg, Abellanosa St., Cagayan de Oro City, or email to amediante@gmail.com Mega-Entrepreneur Outstanding Women Business Leaders Micro-Entrepreneur Social Entrepreneur

Housing Industry leaders Auto Industry Leaders Tourism Industry Leaders Transport Industry Leaders Hotel Industry Leaders Resort Industry Leaders Agro-Industry Leaders Best Environmental CSR ENTRY REQUIREMENTS: 1. Nominees or candidates in various categories shall be nominated by an individual, organization or group or the Local Government Units.

2. Nominations shall be accompanied by the following documents which can be mailed, or emailed to the awards secretariat not later than November 15.

- Brief Resume and History of the Nominee (Individual or Firm)

- Photos (at least 3); Nomination Form; Documentary evidence such as certificates, awards or citations.

SELECTION PROCESS: The Board of Judges shall be composed of known personalities from the Media, Business Community, the Academe, and select government institutions invited by the Awards Secretariat

-Entry forms and documents shall be furnished to each of the five judges

-Entries shall be published in the BWM & MDN and other newspapers

-Results of the Selection Process shall be published in newspapers and other media outlets.

Awardees shall be personally informed by the Secretariat thru mail, or email.

- RATIONALE OF THE PROJECT The achievements of various Mindanao business leaders and entrepreneurs need to be recognized, not only by government institutions and social awards bodies but from the media as well.

BusinessWeek Mindanao as a forerunner of information on the various business leadership and entrepreneurial strides of Mindanaoans deem it as a part of its social responsibility to trumpet such achievements for others to emulate and thus propel a Mindanaoan consciousness in every economic and business stakeholder, whether small or great, the responsibility to help Mindanao achieve sustainable development of its economy.

- MISSION & VISION OF THE AWARDS The holding of BWM Awards annually would serve as catalyst for a continued and concerted effort of business leaders and entrepreneurs to seek greater heights and strive for success in the noble mission of propelling Mindanao and its people towards full economic growth and sustainable development.

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

WEDNESDAY|NOVEMBER 13, 2019

9

10

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

WEDNESDAY|NOVEMBER 13, 2019

Bank... from page 4

opposite! God created you to be His child and friend, so you can enjoy living every day with Him. That’s why God the Son came to show us what He’s like. He wants us to see the good life He designed for us to enjoy.

The more time we spend with Jesus, the better we know how to live well and successfully.

In fact, Jesus Christ guarantees that if each day you will spend your 86,400 seconds on living for Him and others, then at the end of your life when you’ve run out of seconds, you will be truly wealthy and satisfied with no regrets!

Even if you just start right now. So why not ask Jesus to forgive you and to take full charge of the time you still have left? Just Think a Minute…

Bored... from page 4

you are really alone? Do you simply let the time pass without doing anything at all? Why not use such time productively? There are many worthwhile activities to engage in, even if you are alone, such as reading, writing, listen to good (light) music, play an (forgotten?) instrument, gardening...

Reading the bible can be also very particularly beneficial. The Word of God is "alive and exerts power" and can take our minds off ourselves.

To break the cycle of loneliness, one must be a giver. Let's keep an eye, not only and always on our personal interests but also on the interests others. Look around and watch out who needs help, or who needs a real friend or good listener.

Once you have spotted such a person, act! Thus, in order to have friends, you must act like a friend. Luke 6:38 says, "Give to others, and God will give to you!" Besides, "There is more happiness (and less loneliness) in giving then receiving", says Acts 20:35. +++ Email: dor ingklau s@ gmail.com or follow me in Facebook, Tw itter or Linkedin or visit my www. germanexpatinthephilippines.blogspot.com or www. klausdoringsclassicalmusic. blogspot.com.

Talk... from page 4

branches can jeopardize the business.

So how can a family business transform into a completely open and honest communication platform? I am recommending several i n i t i at i v e s t h at f a m i l y members can use as part of the conditions in creating a solid communications plan.

A “we” is bigger than “I” mindset for those who will participate in family or business meetings Agreeing on a covenant that all family members will be fair, honest and transparent A “No Blaming” policy

during meetings. Blaming a family member is not only stressful and counterproductive, it can also lead to permanent scars, fuel more conflict and inflame past hurts Use a third party nonfamily advisor as resource facilitator because he or she can provide objective, unbiased and sound advice to family members To be continued... esoriano@wongadvisory. com

Country... from page 4

That is a clever legal strategy but does not erase, the fact Ressa and company received bonanza from Omidyar. As Levant pointed out Ressa’s claim that she is “winning” the case is simply based on the fact that “Pierre Omidyar gave up his stock,” after recognizing the risk in his exposure to Rappler.

All these should have been forgotten and nobody re a l ly c are s how many awards Ressa received after she made herself the content of the story rather than the stor y teller. Against her peroration in every stage abroad she speaks about her being threatened with death because according to her Rappler has been reporting the truth on the country's populist president Rodrigo Duterte and his government. In a country, where close to 80% of its population are satisfied and approved of the President’s hand l ing of cr ime and managing the economy, criticisms and vilification coming from the likes of Maria Ressa are simply irreconcilable with what she tells Bill Whitaker of CBS that “the environment (in the Philippines) is worse than being in a war zone”.

At a t ime w he n t he Philippines has achieved sustained economic stability under the climate of p e ace, Mar i a R ess a, the American citizen, has become a veritable intriguer and destabilizer. Since she considers Philippines a war zone then she might just as well stay in the United States of America where Pierre Omidyar, her provider is, and cease from creating another drama by seeking asylum in London. Enough already.

Water... from page 7

becomes amplified. For some regions, these latter two impacts, extended growing s e a s ons an d ampl i f i e d photosynthesis, will outpace the closing stomata, meaning more vegetation will consume more water for a longer amount of time, drying the land. As a result, for much of the mid-latitudes, plants will leave less water in soils and streams, even if there is additional rainfall and vegetation is more efficient with its water usage. The result also underscores the importance of improving how climate models represent ecosystems and their response to climate change.

Pundo’s panudlanan sa kapitolyo, madugangan pa GILAUMANG madugangan pa ang pundo sa kapitolyo sa Misamis Oriental human sa pinirmahay sa pangagamhanang lokal ug mga power generating companies dinhi sa lalawigan niadtong Lunes, Nobyembre 11, 2019.

Human pirmado na ang memorandum of agreement tali sa Misamis Oriental Provincial Government ug power generation firms dinhi sa lalawigan, dugang 0.01 centavos per kilowatt hour ang mosulod sa panudlanan sa Provincial Treasurer’s Office matag bulan sugod ning bulana.

Base man gud sa Department of Energ y, ER 1-94, Section 5 of Republic Act No. 7638 kon "Department of Energ y Act of 1992", nagkanayon nga tanang power generating company obligado nga magallocate og pundo gikan sa ilang electricity sales nga itagana alang sa pagpatuman sa pangkalamboang proyekto sa lugar kung diin sila nahimutang.

Ingon pa ni Provincial Treasurer Mr. Roland Jame Violon, magsugod na ang pangagamhanang The world relies on f r e s hw at e r f o r hu m a n consumption, agriculture, hydropower, and industry.

Yet, for many places, there's a fundamental disconnect between when precipitation falls and when people use this water, as is the case wit h C a lifor nia, w hich gets more than half of its precipitation in the winter, but peak demands are in the summer. "Throughout the world, we engineer solutions to move water from point A to point B to overcome this spatiotemporal disconnect between water supply and its demand. Allocating water is politically contentious, capital-intensive and requires really long-term planning, all of which affects some of the most vulnerable populations.

lokal ug kolekta sa maong fund aron maggamit sa pagpatuman sa nagkadaiyang proyekto sa nagkadaiyang kabaranggayan sa Misamis Oriental.

"Thank you for coming to Misamis Oriental. Thank you, for investing here. We assure you that the funds we collected will not be put in waste," panigurado ni Mr. Violon ngadto sa mga electricity producing companies, uban ang pagpasalamat nga nahimo silang kabahin sa kalamboan sa Misamis Oriental.

Tanang lakang sa kapitolyo, lakip ang pag-mentinar sa katarong ug kaligdong sa panerbisyo, isa sa mga yawe kon ngano gidagsa ang Misamis Oriental sa mga mamumuhunan gikan sa nagkalain-laing nasud. Kini, tungod sa ilang pagsalig sa kasamtangang pamunuan nga dili sila pasagdan o ba kaha kilkilan. Matud ni Gobernador Bambi Emano, dili mahimo nga sakyan sa panahon ang kaluyahon sa mga kapitalista, susama sa gibuhat sa iyang mga kaatbang sa pulitika.

Our research shows that we can't expect plants to be a universal panacea for future water availability. So, being able to assess clearly where and why we should anticipate water availability changes to occur in the future is crucial to ensuring that we can be prepared," added Mankin.

Researchers from LamontDoherty Earth Observatory of Columbia University, Richard Seager, Jason E. Smerdon, Benjamin I. Cook, who is also affiliated with NASA Goddard Institute for Space Studies, and A. Park Williams, contributed to this study.

(Story Source: Materials prov ided by Dar tmouth College. Note: Content may be edited for style and length/ www.sciencedaily.com)

11

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

WEDNESDAY|NOVEMBER 13, 2019

Flights...

Host...

the cities of Jinjiang, which is part of Fujian province, and Davao is being served by Chinese airline XiamenAir twice a week.

Hu ang n ote d t h at Chinese tourists visiting Davao City each spends an average “of ¥20,000 or about P145,000 for five days for accommodation, food, sightseeing, island-hopping and shopping.” The amount excludes visa fees and airfare.

Speaking through an interpreter, he stressed that more Chinese from Fujian province, which has a population of almost 40 million in 2018, have been going to other countries because of their growing spending powers brought about by a rising economy.

For the first half of 2019, Huang pointed out that at least 4,000 Chinese nationals from the area flew directly to Davao for tourism and business purposes.

Huang said they also want more Filipinos from Davao and neighboring areas to visit Fujian province, considered as the gateway to China’s Maritime Silk Road.

Li Lin, Chinese consul genera l in D avao City, pl e d ge d to sust ai n t he growing tourism and trade t i es b e t we en s out he ast China and the southern Philippines.

“China’s cooperation with the southern par t of the Philippines will be brought to a higher level.

(With that) Mindanao is going to contribute more signif icant ly to ChinaPhilippine relations,” the envoy said.

Li’s office organized last week’s media delegation to Fujian province, which includes visits to the Jose Rizal Square where a monument of the national hero was erected.

Jinjiang City also hosts an SM City, the chain of shopping malls founded by the late Chinese-Filipino business tycoon Henry Sy. Mayor Duterte earlier said the sisterhood pact between the cities of Davao and Jinjiang seeks to establish cooperation in the fields of tourism, trade, culture, education and technology, among others.

Jinjiang City also hosts an SM City, the chain of shopping malls founded by the late Chinese-Filipino business tycoon Henry Sy who also traced his roots here. MindaNews photo by BONG S. SARMIENTO “(The sisterhood ties) will foster an exchange of ideas on identified fields and bring the people of our two cities closer, (thus) strengthening the bilateral ties between our two nations even further,” she said in a statement.

B esides Jinjiang, Davao City earlier forged a sisterho o d p ac t w it h China’s Nanning City, the capital of Guangxi Zhuang Autonomous Region. (Bong Sarmiento /MindaNews)

Malaysia-Philippines Business Forum aims to foster and enhance trade and investment relations between the two countries.

Representatives of 38 private Malaysian companies are flying in from Kuala Lumpur to attend the event.

Five industry sectors are being targeted, namely: Food and beverages, personal care, construction and building materials, ICT, and logistic services.

Among program includes business forum, cluster visits and B2B meetings which are hoped to bridge Malaysian companies to potential business partners and buyers in the Philippines as well as serve as an avenue for companies to better understand the Philippine market’s dynamics through various engagements.

“We are excited to have this inaugural event in Davao City and hopefully more Malaysian companies can gain access into the Southern Philippines. The prospect for Malaysian businesses in this market remains promising, given the size of the market and growth of the economy’, said the MATRADE Manila Trade Commissioner, Ms. Siti Azlina.

Guests of honor at the event include officials from Davao City Council and Davao City Investment Promotion Center. It is also being supported by Mindanao Business Council.

from page 1

from page 1

Donations...

from page 1 "What started out as a casual Facebook chat to consolidate 'small individual helps for the quake victims' is now turning into a fullblown relief operations in the hard-hit areas in Mindanao," said John Asuncion, who is one of the main conveners of the group.

Asuncion, who is also co-manager of Dragon Boat Kagay-an, partnered with the Go Bong Go Movement and was able to consolidate volunteers and relief goods.

This led to the collection of at least 60 sacks of rice, 600 six-gallon water containers, 1,500 bottled water, 15 rolls of tarpaulin, 900 packs of assorted grocer y items, medicines, dozens of used clothing and rolls of ropes and GI wires.

The relief goods will be brought by a big truck while volunteers will be transported by a bus to be provided by the Land Transportation Franchising and Regulatory Board (LTFRB) in Region 10 (Northern Mindanao) headed

by Regional Director Allan Guro.

They will be divided into four teams namely: kitchen crew (who will prepare freshly cooked meals for the victims), tent assistants (who will improve the current living conditions of the victims and install big community tents), water boys (who will fill up and distribute at least 11,000 liters of water) and entertainment crew (who

will prepare fun games for children).

Cash donations were received from Sultan Aminoden Diampuan Guro and family, 88 Diverse Quest Inc., Dr. Victoria IlaganEspelita, Princess UK, Bryan & Hazel Rusiana, Engr. Rowell Magalang and his wife and Cristina Hinlo.

Organizations, institutions, companies and informal groups joining the distribution of donations are LTFRB-10, Chinese community of Cagayan de Oro, Court of AppealsMindanao, He&S ons Corp., Balay Mindanao, Bing Go, TAA Farm, the Department of Health, Engr.

Almarco Brito and family, BUPHARCO, Yamaha Riders Club Mindanao, St. Mary's School, ACCERT, HEART, Rapid Riders Dragon Boat Team, Brave Heart Dragon Boat Team, Liceo Dragonoids, CGY Oro Dragons, Ateneo Blue Dragons, and Rainbow Dragons.

Also joining "Team CDO" is the consolidated group of 23 independent FilipinoChinese Clubs in Misamis Oriental, known as The Filipino Chinese Community of Cagayan de Oro. It is said to be the first time the dominating and conservative Filipino-Chinese community is joining other groups for a noble cause, he said.

Asuncion said: "They hope their combined efforts will make an impact in uplifting the lives of the earthquake victims. They are very excited about this".

"Please visit the FB page of Dragon Boat Kagay-an for updates and donations. Drop off centers are provided. The CDO Team will leave early morning of November 14. To God be the Glory!" he said.

(PNA)

Heist... from page 2

closed-circuit television camera device inside the establishment, apparently to remove any trace of the incident.

“A f t e r t a k i n g a w a y the cash and jewelry, the suspect boarded a ‘habalhabal’ (motorcycle-for-hire) driven by a still unidentified individual,” Viñas said.

Cruz was arrested by off icers of the Carmen police inside his home in Lumbia following a follow-up operation Sunday evening.

Viñas said it was the s u s p e c t’s w i f e , a l s o a Palawan Pawnshop manager in another branch, who convinced Cruz to confess to the police.

Investigators are now also looking into the alleged laxity on the part of the pawnshop management.

“They (management) did not change the vault code making it easily accessible to the suspect,” he said. (PNA)

Threats... from page 2

Agusan del Sur State College of Agriculture and Technology, the Philippine Normal University, and Father Saturnino Urios University.

“The importance and relevance of Agusan Marsh cannot be overemphasized as it performs a significant ecosystem ser vice by serving as a natural sponge, by absorbing the excess water brought about by the unpredictable weather conditions in the area,” said DENR-13 Director Alicer in his message.

Alicer described the threat of climate change to AMWS as “daunting” and the conference as important and appropriate as it will serve as a venue to look into the different researches in the areas of wetland preservation.

AMWS covers an area of 40,943 hectares encompassing the municipalities of San Francisco, Rosario, Bunawan, Veruela, Loreto, Talacogon, and La Paz in Agusan del Sur. It was proclaimed as a protected area under Presidential Proclamation No. 913 dated October 31, 1996, and considered as one of the six wetlands in the Philippines designated as R amsar wetlands of international importance in 1999.

In his message to the conference that was read by Alicer, DENR Undersecretary Juan Miguel Cuna said t he count r y’s wet lands are major ecosystems that are continuously being threatened.

Cuna cited scientific studies that showed the disappearance of 64 percent of the world’s wetlands since the 1900s and 87 percent since the 1700s.

Cuna said the disappearance of wetlands emanates from population pressure, fishery resource, overexploitation, siltation and sedimentation, and most importantly, climate change.

“Considering that the Philippines is also affected by the global phenomenon of disappearing wetlands, t he Nat iona l We t l ands Conservation Program and the National Wetlands Action Plan of the Philippines were institutionalized,” Cuna said.

For his part, Governor Cane appealed to Caraganons to help the government's preservation efforts at the AMWS. (PNA)

Food... from page 3

Mfg. Corp.; Century Pacific Food, Inc.; Eng Seng Food Products; Excellent Quality Goods Supply Co.; Filifresh International Trading; Fisher Farms, Inc.; Fruits of Life, Inc.; GSL Premium Food Export Corp.; Magicmelt Foods, Inc.; Magsasakang Progresibo Marketing Cooperative; Mancoco Food Processing, Inc.; Monde M.Y. San Corp.; and Monde Nissin Corp.

Pasciolco Agriventures; Pearl Foods International, Inc.; Phil. Morinda Citrifolia, Inc.; Philippine Fr anch i s e Ass o c i at i on ; P i x c e l Tr a n s g l o b a l Foods, Inc.; Primex Coco Products, Inc.; Roxas Sigma Agriventures, Inc.; Saw Fine Foods International Ltd.; San Miguel Foods; SEE’S

International Food Mfg. Corp.; SL Agrifood/Agritech Corp.; Team Asia Corp.; Trans Ocean Food Products, Inc.; Tropicana Food Products, Inc.; and W.L. Food Products also joined the buying expo.

T h e c o u nt r y ’s f o o d pavilion at the CIIE focuses on promoting healthier and more organic products amid the growing demand for health and wellness products in China.

In his visit to Shanghai last Tuesday, Department of Trade and Industry (DTI) Secretary Ramon Lopez said the Philippines needs to ramp up its manufacturing capacity if enterprises would like to tap the huge Chinese market.

“Now it’s up to us to have the domestic production capacity to be able to supply the requirements because we all know China is a big population -- 1.4 billion -- so when they order, the demand is always in big quantity,” Lopez said.

While improving exports to China, the trade chief said the Philippine government targets to attract more investments from Chinese businesses to set up their production facilities in the country.

“S i n c e w e l a c k t h e capacity, why not invest in the Philippines and produce that capacity,” Lopez said.

“That’s why we encourage companies to establish operations in the Philippines – iron and steel, metals, c h e m i c a l s , aut o p ar t s , energy, infrastructure. It has an import substitution effect also. It will reduce our importation, at the same time there are other products that we can export to anywhere,” he said. (PNA)

Income... from page 3

we have a comp et it ive advantage given that we have the widest geographic reach around the country,” he added.

The company’s total consolidated assets as of September 30, 2019 stood at P268 billion compared to P238.3 billion in December of last year. Capital expenditures for the first half of the year amounted to P28.8 billion.

Vista Land President and Chief Executive Officer Manuel Paolo Villar said:

“We remain confident about the company’s prospects for the rest of the year as our leasing portfolio will be growing which complements our existing core and stable end-user housing business.”

In terms of residential business, he said the firm launched projects with an estimated value of PHP28.3 billion during the first nine months of the year.

Vista Land intends to focus on the development of “communicit ies”, an integrated urban development combining lifestyle retail, prime office space, university town, healthcare, themed residential developments, and leisure components. (PR)

Products... from page 3

and fruit cocktail. * Look for products that are not expiring soon.

“Most importantly, I advise consumers to choose the products they find value for themselves and their family. It is advised to do the Christmas grocery shopping early and avoid the holiday rush,” Lopez said.

“DTI would like to ensure that consumers will always have the value-for-money product and brand options that they can choose from, especially this Christmas season,” he added. (PR)

FDI...

from page 5

inflows were mostly investments in debt instruments of $263 million which was down by 50.8 percent year-on-year or from $534 million.

Non-residents’ net equity capital investments also decreased by 55.3 percent to $77 million $172 million as the “decline in placements (from $187 million to $86 million) outweighed the decrease in withdrawals (from $16 million to $10 million),” said the BSP. Equity capital placements from investors in Japan, the US, Hong Kong, Cayman Islands, and Singapore, were made in: manufacturing; real estate; financial and insurance; information and communication; and wholesale and retail trade industries.

The BSP said reinvestment of earnings in August was up by 46 percent to $77 million from $53 million in August 2018.

ALLAN'S LECHON Main: Purok 4 Puerto, Cagayan de Oro City Cell #: 0928-616-4431 / 0905-777-0670 Branch: 31st Nazareth, Cagayan de Oro City Cell #: 0926-594-9540

Free: HALANG-HALANG or DINUGOAN!

Branch: Casinglot, Tagoloan, Misamis Oriental

For orders, please call:

KAG. LOLITA L. WAHING

BusinessWeek MINDANAO CREDIBLE

www.businessweekmindanao.com

RELIABLE

FEATURE

IN-DEPTH

Wednesday|November 13, 2019

12

Nissan shows off high-tech features via Intelligent Mobility tour in CDO

F

OR three days, Nissan Philippines flexes off the new high-end technology embedded in its vehicles through a Nissan Intelligent Mobility show at Limketkai Rotunda in Cagayan de Oro City from November 8 to 10, this year.

Cars that can think, communicate, learn, predict, recharge, and do it all as your partner. It’s Nissan Intelligent Mobility, a suite of advanced technology that creates a whole new way of driving that gives you peace of mind, opens up new experiences, and connects you to your world and

Story and Photo by MARK FRANCISCO

those around you.

The future of driving has arrived. And it’s exciting.

Intelligent Driving starts now, with driver assistance technology that helps you see more and sense more, and gives you a hand when you need it.

What if you could have an exciting drive every time?

A zero-emission vehicle makes it possible. With instant acceleration and the fun of one-pedal driving, you’ve got an experience like no other.

Your Nissan can already connect seamlessly with your smartphone. The next step is smart vehicles that connect with each

other in an ecosystem that improves safety and traffic flow.

With the bold IMs and IMQ concept vehicles, Nissan shows exciting future expressions of Nissan Intelligent Mobility.

The 360 kilowatt, 800 Nm IMs features an estimated range of 380 miles on a single charge, and represents an entirely new segment of vehicle – an elevated, electrified sports sedan.

Signaling the future of crossovers, the 250 kilowatt, 700 Nm, IMQ features the next generation of e-POWER, a 100% electric motor drive system that delivers instant, linear acceleration. A new

multi-motor, allwheel-drive system promises true allweather, all-terrain capability.

Both concepts take connectivity to a whole new level, with Nissan’s Invisible-toVisible technology, or I2V. Helping the driver "see the invisible" by merging both real and virtual worlds.

And with an advanced prototype ProPILOT driver assistance system that can interpret road, traffic, and information signals for a smooth and confident ride, both show Nissan's commitment to an autonomous future.

Imagine charging

on the go. Never having to stop for a red light. Even cars talking to each other to avoid an accident. With Nissan Intelligent Mobility, the way we drive is about to change in a big way.

Think your way to a better drive. With Brain-to-Vehicle technology, brain waves are utilized to create a stronger link between you and your car for more control, making driving more enjoyable for you.

Already excited to test drive today?

Check out Nissan Cagayan de Oro along Pelaez Blvd. along Liceo de Cagayan University main campus.