BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 072
Market Indicators
As of 6:21 pm November 11, 2016 (friday)
FOREX
PHISIX
US$1 = P48.90
6,975.09
24.2 cents
X
X
206.78 points
Briefly
Investment haven THE Department of Finance (DOF) is reassuring American businessmen the government will continue to make the Philippines an attractive place for investments. In a statement, Finance Secretary Carlos G. Dominguez III said the new administration wants to have more competition and innovation in the area of business in country while maintaining a level playing field for all. Dominguez also said the Duterte administration is pursuing a policy of “economic diversification” to open more markets for Philippine products overseas, encourage more investments, and create betterpaying jobs for Filipinos.
Rural devt projects THE World Bank recently started its implementation support mission to the Department of Agricultureled Philippine Rural Development Project (DA-PRDP) with a kick-off meeting at the DA’s central office in Quezon City. A team of experts from the World Bank headed by Frauke Jungbluth, the lead agriculture economist and task team leader of the mission, will attend meetings and subproject site visits in the Project’s clusters in North Luzon, which covers the Cordillera, Ilocos, Cagayan Valley and Central Luzon regions; South Luzon, which covers the CALABARZON, MIMAROPA and Bicol Regions; Visayas; and Mindanao. This mission follows the second implementation support mission conducted April this year that earned the PRDP a satisfactory performance rating from the World Bank, just like in the earlier review mission held in November last year.
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Duterte eyes Malaysian investments in oil palm www.businessweekmindanao.com
Monday | November 14, 2016
By ANTONIO L. COLINA IV MindaNews
Diokno vows no delay in massive infra projects
D
AVAO C i t y – President Ro drigo R . Duterte said Friday he will encourage Malaysia to invest in the oil palm future of the country to help uplift the people’s economic conditions. In his message at F. Bangoy International Airport upon his arrival from his state visits in Malaysia and Thailand, Duterte said some Malaysian investors had sig nif ie d interest to invest in Marilog and Paquibato Districts during his last term of mayor of Davao City from 2013 to 2016. investments/PAGE 11
By ANTONIO L. COLINA IV MindaNews
NORMIN’S OLDEST VETERAN. Northern Mindanao’s oldest World War II veteran Marcelo Polonia, 104 years old (left), waits his turn to be recognized by Defense Secretary Delfin Lorenzana (right) during the Veterans Day celebration last Friday (Nov. 11) at Limketkai Center Atrium, Cagayan de Oro City. PHOTO BY Mark Doña Francisco
DAVAO City – Budget secretary Benjamin Diokno has vowed that t he i mple me nt at i on of massive hard infrastructure projects and human capital development will not be delayed even if the proposed tax reform measure will not be passed in Congress. In a press conference during the Philippine Development Forum at the SMX C onvention Center Davao last week, Diokno said that delaying t he i mple me nt at i on of inf rastr ucture program diokno/PAGE 11
BDA needs P136B for Bangsa devt plan By ANTONIO L. COLINA IV, MindaNews
THE Bangsamoro Development Agency (BDA) will need some P136 billion to implement the two phases of
the Bangsamoro Development Plan (BDP) that seeks to uplift the lives of the people living in conflict areas.
BDA chairman Saffrullah M. Dipatuan told reporters during the press briefing on the Autonomous Region in Muslim Mindanao (ARMM) Bangsa/PAGE 11
Banana farmers want to keep venture deal By CARMELITO Q. FRANCISCO, Correspondent
WATER IS LIFE. Residents get a free bath during the testing of a fire hydrant in Bilaan, Talipao, Sulu from the purely gravity powered Sagay Sagay Water System with source at 163 meters above sea level. Sec. Don Loong of the DPWH-ARMM checked on the water system that spans 40 kms.with 31 community tap stands serving the towns of Talipao, Panglima Estino and Panamao. (Photo courtesy of Nasrudin Kamensa)
DAVAO City -- Banana farmers have asked the Department of Agrarian Reform (DAR) not to cancel their Agricultural Venture Agreement (AVA) with exporter Marsman Estate Plantation, Inc. (MEPI),
saying they are satisfied with the terms of the contract. Members of the Davao Marsman Agrarian Reform Beneficiaries Multi-purposeCooperative (DAMARBMPC) and Daval Marsman banana/PAGE 11
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Economy
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MOnday|november 14, 2016
Dev’t forum generates ‘treasure trove’ of proposals to push poverty reduction goal DAVAO City -- This year’s Philippines Development Forum (PDF) has been a productive exchange of ideas that generated a wide range of practical and out-of-the-box proposals on “how to push the poverty alleviation effort” of the Duterte administration. Aside from proposals, the government has, through this two-day event, also received numerous offers of strong support for the Duterte administration’s accelerated poverty reduction program from the country’s development partners. According to Finance Secretary Sonny Dominguez, “the overarching goal of this
administration’s reform program is the reduction of poverty by about 8 percent over the medium term.” “The reduction of poverty will be made possible by maintaining an annual GDP growth rate of at least 7 percent. The high growth rate will not be enough if it is not inclusive. We have seen in the past few years that our economy, while posting healthy growth, made the rich richer and the poor poorer,” Dominguez said. The inputs gathered during the PDF will be used to craft “two very important” documents—the national budget proposal for 2018
which will be prepared starting June next year, and the Philippine Development Plan for 2017-2022 being completed by the National Economic and Development Authority (NEDA). The PDF is a “collective and concerted action” that will be replicated in smaller, working group scales in different parts of the country to “put meat in the bones” of President Duterte’s 10-point socioeconomic agenda and ensure that it is responsive to the needs of Filipinos, especially those in the countryside. Dominguez, the chair o f t h e P D F, s a i d t h e
virtual “treasure trove” of constructive ideas, proposals and other inputs that have been gathered from this year’s PDF will be woven into the Philippines’ Development Plan for 2017-2022 that is now being drafted by Socioeconomic Planning Secretary Ernesto Pernia and the National Economic and Development Authority. It focuses on accelerated spending on infrastructure, human capital development and social protection for the poorest of the poor, as well as programs conducive to attracting fresh investments in businesses “The (PDF) Secretariat is
sorting out a virtual treasure trove of suggestions and ideas –including some of Gary Teves’ truly practical suggestions on how to win
public support for the tax reform program and some out-of-the-box suggestions about how to push the forum/PAGE 9
Dads push for dredging of Cagayan de Oro River THE Cagayan de Oro City Council during its regular session Monday adopted Resolution No. 12486-2016, informing President Rodrigo Duterte, the secretary of the Department of Public Wo r k s a n d H i g h w a y s (DPWH), Department of Environment and Natural
Resources (DENR), Maritime Industry Authority-Manila, and the regional offices of said departments that the city government of Cagayan de Oro is ready to undertake dredging activity at the Cagayan de Oro River so as to remove the sandbars push/PAGE 9
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MOnday|november 14, 2016
Cucina Higala now on soft opening Cucina Higala will open its doors to public on November 12, 2016. It will be Cagayan de Oro's first Modern Filpino and Heritage Cuisine Restaurant! Since by then we will still be on soft opening, please be advised that we can only accommodate a limited number of diners at a time. Your patience is greatly appreciated and we look forward to see you with your family and friends share great food at Cucina Higala. #CucinaHigala #GoodFriendsGreatFood
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Opinion
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MOnday|november 14, 2016
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Your Mind Is A Terrible Thing to Waste Think a minute…Have you heard this expression, “It’s raining cats and dogs?” It was started in Europe in the 1500’s when many European houses had thatched roofs made from straw. At night time the animals would climb up on the roof to stay warm, including cats, dogs, and other small animals. But when it rained hard, the straw became slippery and sometimes the animals slipped and fell off the roof. So they started the saying, “It’s raining cats and dogs.” It’s interesting how many of us go through life saying and doing things that often we don’t even know why we do them. Like superstitions which don’t make any sense, yet many of us still believe them. But as we grow and learn more about life, we slowly begin to understand and change some of our incorrect beliefs and thinking. We realize that some things we used to think and believe actually are not true, such as superstitions and racial prejudice. It’s so important that we always keep learning, because our mind is a terrible thing to waste! Someone said: “You should always keep an open mind, but not so open that your brains fall out!” In other words, we need to use our
THINK
A Minute
Jhan Tiafau Hurst mind and conscience God gave us to sort through what’s true and what isn’t. We’re responsible to think and find out the truth for ourselves. That way we won’t let others rent space in our heads! As a professor of mine used to say: “If you don’t know for yourself, you’ll get hustled and fooled all your life.” This is why Jesus Christ came: to explain and show us the true way we were made to enjoy the life He gave us. He didn’t create us to stumble through life in the dark, not knowing the right way to live a successful life. So why not ask Jesus Christ to forgive you for your past wrongs? Then ask Him to start showing you His way to true success and satisfaction. You’ve got nothing to lose and everything to gain. Just Think a Minute…
Exactly one year ago, I started writing about this topic already in this paper. I grew up in a Germany during times of Cold War, and military check points. 2 5 ye ars re s i d i ng an d living in the former West B e r l i n s u r r o u n d e d by the Communist German Democratic Republic (or shortly East Germany) taught me how to survive behind borders and the Berlin Wall. Just right now, Germany allowed to extend border controls for three more months. Wow. The Europen Union has ruled that Germany and a handful of other states will be allowed to keep their temporary border controls for three more months. Controls were reinstated last year to stem the flow of undocumented migrants. Along with Austria, D enmark, Swe den and non-EU Norway, Germany reimposed partial border controls last year to stem the flow of undocumented migrants travelling through Europe. All the countries are members of the freetravel Schengen area but have been allowed by the EU to introduce border checks along the migrant route as an exceptional measure. The five countries were scheduled to lift the border checks on November 15. However, the European Council, made up of the heads of the 28 EU member states, approved the proposal put forward by the European Commission. It said the temporary checks are allowed to be extended by “at most three months.” After mid-February, the countries should reinstate unrestricted freedom to travel as soon as possible, said Slovak Interior Minister
Robert Kalinak. Slovakia currently holds the rotating presidency in the European Council. German Justice Minister Thomas de Maizière had advocated prolonging border controls on Germany’s border to Austria. In October, he explained that controls could only be loosened when the EU’s external border had been fully secured or when the member states had sufficient resources to accommodate all refugees in Europe. Germany was the first EU member state to reimpose border controls along its border with Austria in September 2015. Of course, not all countries welcomed the proposal. Hungary, Slovenia and Greece voted against the extension, while Bulgaria and Cyprus abstained. The Greek government argued that its own border was sufficiently controlled, making the chance of more migrants crossing Greece into EU states minimal. Hungary warned that prolonging the internal controls could lead to a “breakdown of the Schengen system.” Rather than internal borders, Hungarian officials said the EU should focus on its external border. The Schengen area incorporates 26 countries, including non-EU members Iceland, Switzerland and Liechtenstein. People and goods can normally travel freely without border checks between states that have signed on to the agreement. Also many Filipino tourists avail a Schengen visa and enjoy travelling in Europe. The Austria’s defense minister has said the European Union’s migrant deal with Turkey is dead. The EU must now prepare to strengthen its external
borders, he added. Under the deal, Turkey agreed to take back Syrian migrants in Greece who did not apply for or did not receive asylum in the EU in exchange for aid and the bloc taking a set amount of Syrian refugees directly from Turkey. But since the deal went into effect, migrants who previously tried to reach richer northern European states before applying for asylum have put in applications in Greece. This has slowed down deportations back to Turkey and left Greece overburdened as applications are processed. The EU, meanwhile, has been slow to develop a refugee distribution plan as countries, mainly in central and eastern Europe, refuse to accept asylum-seekers. Political developments in Turkey have also cast the deal into doubt. Several politicians voiced out that Turkey was “on its way to becoming a dictatorship,” a reference to Turkish President Recep Tayyip Erdogan’s consolidation of power and targeting of the opposition. The political situation in Turkey makes implementation of another part of the migrant deal problematic. Under the agreement, Turkish citizens are to obtain visa-free travel to the bloc, but EU officials have questioned whether this will happen due to draconian anti-terror laws and the deterioration of democracy in Turkey. The security situation and instability in Turkey also casts doubt over whether it is a “safe country” to return migrants. Absent visa-free travel, Turkey’s Foreign Minister Mevlut Cavusoglu this week suggested his country would pull out of the deal by year’s
H ave M y Say
Klaus Doring
end. Vienna has allied itself with the Visegrad group Poland, Hungary, Slovakia and the Czech Republic against the EU’s migrant policy. Earlier this year, Austria was instrumental in the closure of the Balkan route used by migrants to travel to northern Europe after it tightened its border controls and set a ceiling on asylum applications. Also earlier this week, Austria sent 60 troops to Hungary to help build infrastructure along the border with nonEU member Serbia. Austrians head to the polls on December 4 for a rerun presidential election that pits anti-immigration and eurosceptic Freedom Par t y (FPO) c andid ate Norbert Hofer against the left-leaning Alexander Van der Bellen. Migration has been a centerpiece of the campaign. Europe without borders? This is how I called and entitled several columns of mine in the past. Not only history has written its own story... ! +++ Email: doringklaus@gmail. com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines. blogspot.com.
So, was there a Robredo joke or not? LIFE’S INSPIRATIONS: “… `the truth shall make you free’…” (Jesus Christ, our God and Savior, in John 8:32, the Holy Bible). -ooo S O, WA S T H E R E A ROBREDO JOKE OR NOT? The news report which was captioned to project the idea that Vice President Leni Robredo cracked a joke about her possible ouster from her position by virtue of a decision of the Supreme Court in connection with the protest from her rival, former Sen. Ferdinand Marcos Jr., was totally amusing, and seemed to be a ploy to cause the dismissal of the protest. First, even a meticulous reading of the entire report will not yield any direct statement, much less a joke, from Robredo, relative to that pending protest which, by the way, is a protest that is not even before the Supreme Court, but before the Presidential Electoral Tribunal, a body distinct from the court and where only three of its 15 justices
are members. From the news report itself, it would appear that what Robredo joked about was the vice president of t he Ate ne o D e Man i l a University, where she was invited to speak about the tribunal’s decision to allow the burial of Marcos’ father, the late President Marcos, to be buried at the Libingan ng mga Bayani. -ooo EDITORIALIZING A NEWS REPORT? So the question that the editors of the newspaper which published the report must answer is this: if Robredo did not directly make a joke about herself and about the protest against her, why was the report entitled “Robredo jokes: will SC oust me next from VP post?” There would have been no problem with that kind of a title, if it was given to an opinion column, or even to an editorial which is supposed to represent t he st and of t he pap er itself. Unfortunately, if it is to a straight news report
that that kind of title was given, as what happened in the Robredo-Ateneo story, it would not only be inappropriate. It would also be a clear distor tion of the event depicted in the news story, and this is something that should not be seen in a national daily newspaper, especially one that prides itself in truthful reporting and fearless opinionmaking. -ooo SC WILL NOT DECIDE ON THE ROBREDOMARCOS ROW: Undeniably, the story shows its bias in favor of Robredo---that of wanting her to retain her position as the second h i g h e st of f i c i a l of t h e land, even at the expense of how the protest will ultimately turn out. It also shows its contempt of the highest court of the land, by suggesting, at the very least, that it is incapable of judiciously and fairly deciding on cases involving the Marcos family. Robredo, too, displayed
K ak ampi
Mo A ng Batas
Atty. Batas Mauricio this distrust on the court, by s p e a k i ng ab out t h e Supreme Court not having the capacity to unseat the vice president of Ateneo, implying, on the sly, that, indeed, the tribunal will not act fairly on her case and would favor her rival, former Sen. Marcos, in his protest against her. This is truly sad. After all, Robredo is not only the country’s second highest official at the moment, who is expected to display utmost trust and confidence in the institutions of the government where she is batas/PAGE 9
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MOnday|november 14, 2016
CorporateWorld
3 families from PHL in Asia’s richest list
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HE Sy, Zobel and Aboitiz families made it to the 2016 Forbes list of Asia’s richest families, Forbes Asia announced on Thursday. The family of Henry Sy, Sr. remained the Philippines’ richest, ranking 17th on the Forbes list with an estimated net wealth of $12.8 billion. The Sy family was ranked 13th in the 2015 list. Listed SM Investments Corp. is the holding firm for the Sy family’s businesses in property, retail, financial services and others. Among its companies include SM
Prime Holdings, Inc., BDO Unibank, Inc., The China Banking Corporation and SM Retail, Inc. The elder Sy’s children have taken active roles in the management of companies -- daughter Teresita T. Sy is chairperson of BDO Unibank, while son Harley T. Sy is president of SM Investments. The Zobel clan, whose wealth stood at $5.1 billion, landed on 37th spot in the list of Asia’s richest families. Ayala Corp. is the holding company for the family’s businesses in property, banking, telecommunications,
among others. With an estimated net wealth of $5 billion, the Cebubased Aboitiz family ranked 39th on the Forbes list. Aboitiz Equity Ventures is the listed holding and management company of the Aboitiz group of companies. It has businesses in power, food, real estate, banking and biofuel. South Korea’s Lee family topped the list of Asia’s richest families for a second straight year. The family behind the Samsung Group saw its combined wealth grow to $29.6 billion, up from $26.6 billion last year.
Forbes said the list is a “snapshot” of wealth using stock prices and currency exchange rates from the close of business on Oct. 28. A minimum net wealth of $3.4 billion is required to qualify for the list. “Sources of Asian wealth are broadening. You can see that among the rich families here, and even within many of the families -- no particular sectors of the economy dominate. For those aiming to be among Asia’s richest, it’s a very wide world,” Tim Ferguson, editor of Forbes Asia, said in a statement.
Filinvest Land earnings drop 10% in Q3 FILINVEST LAND, Inc. realized a 10% decline in earnings during the third quarter, as rising expenses offset improvements in sales and other revenues. In its quarterly report released on Friday, the listed property developer booked a consolidated net income of P622.5 million. This compares with the P694.5 million registered for the same three months in 2015. Revenues during the
quarter increased 10% yearon-year to P4.39 billion from P4.02 billion, as real estate sales rose 6% to P3.31 billion from P3.11 billion while income from rental and related services jumped 16% to P762.2 million from P659.6 million. Costs, operating expenses and other charges, however, surged 12% to P3.17 billion from P2.83 billion, dragging Filinvest Land’s bottomline for the third quarter.
Still, the company managed to book a 7% year-on-year increase in net income to P3.46 billion from P3.25 billion nine months into the year. This follows the 6% rise in consolidated revenues to P13.60 billion. The improved nine-month results reflect the 14% growth in rental revenues to P2.28 billion from P2.01 billion as real estate sales were flattish at P10.24 billion compared with last year’s P9.75 billion.
3 Things to Consider to Get Rid of Diabetes
One of the top leading causes of deaths worldwide is Diabetes. Its key factor as to why it is considered deadly because most people who have diabetes don’t even know they have it, some do not know how to maintain their health and some simply do not treat their diabetes as it should. As we dedicate this day for “Diabetes Awareness” it is of importance to know several things you must consider in order to prevent Diabetes from interfering into your life. 1. If you are at high risk of having diabetes, make sure to check with your doctor if you have it. If you don’t have it
though, take necessary precautions in order to avoid it. 2. Make sure to live a healthy lifestyle by eating well-balanced diet meals, exercising regularly and allotting enough time for rest. 3. Always be cautious with your blood sugar level. Lower blood sugar and high blood sugar can both cause discomfort and unwanted health effects. That’s why it is important to get supplements that help in regulating blood sugar levels like BitterGo! BitterGo by ATC Healthcare is an allnatural dietary food supplement that is made from high content
100% pure extract of Ampalaya Extract, Banaba Extract, Luyang Dilaw Extract, and the ONLY SUPPLEMENT WITH Bawang Extract. This extraordinary combination helps manage insulin levels, lowers blood sugar levels, aids in managing diabetes symptom and stimulates the pancreas, spleen and liver to intensify absorption. BitterGo is a product of extensive research and development that guarantees top quality and excellent promising health results which makes it absolutely different from other supplements. For your blood sugar control, take BitterGo! Like BitterGo on Facebook at www. facebook.com/ ATCBitterGo for more promos and updates. Note that, BitterGo is not a medicinal drug and should not be used to treat the symptoms of any disease. BitterGo is SRP P7.50 per piece, available at all Mercury Drug and other leading drugstores and supermarkets nationwide!
The last three quarters of 2015 saw the completion of three new buildings, which have started generating revenues toward September. Filinvest Land expects fullyear revenues from these buildings to be reflected in 2017. The company has completed two more buildings -- Filinvest Cyberzone Bay City 1 and 2 -- in the Bay area with 37,000 square meters filinvest/PAGE 9
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Globe, Cebuana Lhuillier, Mynt sign pact for PH financial inclusion IN a bid to further push financial inclusion in the country, Globe Telecom, Cebuana Lhuillier and Mynt inked a memorandum of agreement that will pave the way for several initiatives combining the products and services of the three companies. The tripartite partnership was signed by Globe President & CEO Ernest Cu, Cebuana Lhuillier President & CEO Jean Henri Lhuillier, and G-Xchange President Albert Tinio. G-Xchange is a subsidiary of Globe Telecom’s wholly-owned financial services unit Mynt. “The idea is to disrupt the traditional banking system of having to personally go to a bank, fill out forms, fall in line and pay for bills or deposit money. This initiative will create an avenue for the companies to leverage on each other’s strengths and capabilities to create a better financial system for the consumers,” said Cu. Meanwhile, Lhuillier stated, “This undertaking is a great opportunity to address the financial concerns of many Filipinos, especially
those in unbanked and underbanked communities which is very aligned to what we do as a company. I am glad that Cebuana Lhuillier, together with Globe and Mynt, is taking this big step to revolutionize the way we serve our mutual clients. I am certain that this partnership will positively impact the lives of many individuals.” Most of the initiatives involve GCash, a micropayment service operated by G-Xchange. Already commercially available, one of the projects allows GCash customers to perform cashin and cash-out transactions in any of Cebuana Lhuillier’s 1,800 branches nationwide. Also being developed are systems that would enable GCash accounts to submit payments for Fuse loans and accept proceeds of international remittance. Other projects in the works i nclu d e t he v i ce ve rs a conversion of rewards points under the loyalty programs of Globe and Cebuana Lhuillier, cross-selling of Cebuana Lhuillier’s microinsurance product, development filinvest/PAGE 9
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Feature
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MOnday|november 14, 2016
Sikat ka Higala By SHERYL MACALE
I
t is not inevitable to see corruption in our midst.Time and time again every new President every new administration has desired to suppress it but none has overcome it and it is always like an expectation that maybe one day corruption is no longer part of the nations history it is too good to be true we can only hope but never expect .It is like a pattern or a habit that is repeated over and over again.But never instead the ombudsman chases this officials more relentlessly from governors down to barangay chiefs violating laws,devaluation of funds more or less the abuse of power and authority or misconduct or even committing crime.It is such a shame warrant of arrest here,dismissal order there or murder or kill political opponents.The seat that they ambition to take destroys a lot of lives and not giving the alleviation of poverty but more misery.Today In His Presidency Rodrigo Duterte has created a program a mechanism,a challenge and a call for unity that maybe we can achieve to stop the main and the root causes of our problems .Crime,Drugs and corruption.Recently dated November 08 2016 a gathering of 5 provinces in respond to implement a mandate from the President MASA MASID or Mamamayang Ayaw sa Anomaliya and Mamamayang Ayaw sa IIigal na Droga.It is a barangay based anti criminality and anti-illegal drugs program which encourages multi sectoral partnership to intensify the spirit of volunteerism
at the community level. The purpose of this program is to heighten community by mobilizing the support of local stakeholders,volunteers,civic organization,faith based organization and private sectors in the fight against illegal drugs,criminality and corruption.This program through the Department of Interior and Local Government was given the mandate to conduct the dissemination of information from the regional to provincial,municipal and city and barangay levels to adhere the call of this program.A total of 500 volunteers from different sectors have united to help cascade this information in order to achieve the purpose of this program.It was graced by the Archdiocese of Cagayan de Oro,Igesia Filipino Independiente and Mindanao National Commission on Muslim Filipinos.It was honored by the City Mayor Oscar Moreno,the Regional Director of the PNP P/CSUPT Noel Constantino,The Dangerous Drug board the Regional Director of DILG Region 10 Arnel Agabe andASEC Roosque B. Calacat was the we keynote speaker giving inspiration to the participants.The City Mayor delivered a message saying" Obey the law and part of the law is to respect the rights of the people.He said Resiliency emerged when a tragic situation occurred and rise to the occasion and emerging stronger than before."I believe in every ounce of the Presidents fight for this program and i will hope that people
will come and joins us in this Fight" United we stand divided we fall".In the words of the famous author and Poet Khalil Gibran and i quote "Where is the justice of political power if it executes the
murderer and jails the plunderer,and then itself marches upon neighboring lands,killing thousands pillaging the very hills. It is my interpretation that we cannot achieve in desperation nor we
can achieve the highest bidding of our hopes if we fail to save the lost.We can achieve this if we unite and become a nation that hates corruption and to reject criminality only and alone we can stand the fight and
win this battle.To DILG and to the people involve in this organization Sikat Kayo mga Higala and may we all make this ambition a reality we are at your back to support you in this aspiration.
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MOnday|november 14, 2016
Banking&Finance
PH Q3 output seen to hit 6.9%
T
HE Philippine e c o n o my s h o u l d remain robust with a 6.9 percent output in the third quarter of 2016, Moody’s Analytics forecasts. The research arm of Moody’s, in its preview report for the incoming w e e k , s ai d it re m a i n s optimistic that private consumption, investment and government spending would have continued to drive domestic growth from
July to September. But it projected slower performance for exports “partly as a result of subdued global demand.” It also noted that nickel exports “will be dented by the temporary closure of several mines due to compliance issues.” T h e g o v e r n m e nt i s scheduled to report the Philippine economy’s third quarter output on November 17.
In the first half of 2016, the Philippine gross domestic product (GPD) expanded by 6.9 percent, one of the highest in Asia. For the second quarter alone, the economy grew by seven percent. The services and manufacturing sectors fueled the expansion among major industries in the second quarter alone, with growths of 8.4 percent and 6.9 percent, respectively.
Invest ment g re w by 27.6 percent, government consumption by 13.5 percent and household consumption by 7.3 percent during the quarter. These are all higher than the previous quarter’s 26.6 percent, 11.8 percent and 7 percent, respectively. Domestic growth in the first half this year is already near the upper end of the government’s growth target this year of 6–7 percent.
BSP opens microfinance conversion to regular banks MICROFINANCE-oriented thrift and rural banks that have grown significantly could convert into regular banks to improve financial services and increase loans to its existing clients. This is made possible with the revised rules of the Bangko Sentral ng Pilipinas (BSP) on banking license c onve rs i on b e c au s e of demographic, social changes as well as in consideration of economic condition and other factors. Based on the memo of BSP Circular No. 929 which amended the conversion of microfinance-oriented thrift banks and rural banks, these banks are allowed to make the transition to regular thrift and rural banks if they could state that allocating 50 percent of their gross loan portfolio to microfinance is “no longer feasible due to changes in market condition.” The conversion proposal should also be accompanied by a strategic plan, business strategy, market studies or analysis which cites among
ot hers, t he changes in demographic, social and economic factors. The BSP will require a resolution of the microfinance institution’s board of directors approving the conversion. “ The bank must also change its business name to reflect its reclassification to a regular bank,” said the BSP. The circular was signed by BSP Governor Amando M. Tetangco Jr. last October 28. As of end-2015, there are 1.47 million microfinance borrowers from just 390,635 in 2002. About 170 banks offer microfinance loans compared t o 2 0 0 2 ’s 1 1 9 b a n k s . Microfinance loans have increased by 333 percent to R11.3 billion as of end-2015 from R2.6 billion in 2002. Tetangco has always said that in promoting microfinance, the end goal is for microenterprises to eventually transition into small and even medium enterprises. To this end, the BSP has been helping
microfinance institutions and other financial service providers support MSMEs (or micro SMEs) through
financial products and other services that are “critical to the entry, survival, productivity, and growth of enterprises.”
Peso nears P49:$1 level as Trump plans spark jitters THE PESO hit a fresh sevenyear low on Friday, moving in sync with other Asian currencies as investors took a risk-off approach towards emerging markets ahead of a Trump presidency in the United States two days after an upset in election results. The local currency closed the week at P48.95 against the dollar, 29 centavos weaker than Thursday’s P48.66 finish. Friday’s close is the weakest in seven and a half years since a P48.995 rate seen in April 28, 2009. The peso opened already weaker at P48.77, which was also its best showing that day. It hit P48.96 versus the greenback as its lowest intraday level before shaving one centavo by the end of the
trading session. Traders said the peso tracked the movements of other Asian currencies, reflecting global market concern over possible policy shifts ahead of Donald Trump’s four-year term as US president which starts Jan. 20. “The peso depreciated today still because of safe haven buying amid US p olit ic a l uncer t aint ies. Investors were digesting reports about the potential rise in US inflation due to Mr. Trump’s plan to cut taxes and increase infrastructure spending,” a trader said via e-mail on Friday. Reuters reported that the dollar strengthened to jitters/PAGE 9
7 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
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
Grid operator NGCP inaugurated the newly upgraded Opol Substation in Misamis Oriental last 29 September. Local government leaders and stakeholders who will benefit from the new power facility graced the event including Opol Mayor Maximo B. Seno (8th from left) and Mr. Collen B. Tarcelo (6th from left), Service Area Manager of local electric cooperative MORESCO I, which is directly connected to the new substation. Also present were NGCP officers Mr. Mark Joseph Andeo (5th from left), Head of Central Project Office, Mr. Pedro B. Moran (4th from left), Head of Mindanao Projects Division, and Mr. Jesselito P. Abamonga (3rd from right), Head of Mindanao Operations and Maintenance District 3.
PBCOM Tiano-HayesSt. Cdoc | 726519/8571558
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
8
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Forum...
Batas...
poverty-alleviation effort,” Dominguez said. This year’s Forum is the first under the four-month old Duterte administration. The PDF Secretariat observed that this was also the first time that civil society, academe, and the business sector have been very active in taking part in the Forum. Following the plenary discussions on the first day, the stakeholders organized themselves into “breakout” groups based on the major themes of the President’s 10-point socioeconomic agenda. These “breakout” groups tackled 1) macroeconomic and fiscal policies, which include the proposed tax reform program of the Department of Finance (DOF); 2) peace and development initiatives in Mindanao; 3) infrastructure and competitiveness, which include the development of science and technology, building an efficient transport network and improving the ease of doing business; 4) rural development, which include land administration and management and food security; and the 5) development of human c apit a l, w h i ch i nclu d e social protection programs for the poorest of the poor and the implementation of the reproductive health law. (DOF)
a part of at all times, but is also a lawyer who ought to know that it is not the Supreme Court that will decide on the case against her, but another body, so that it is not fair to be hitting the court in any way over the issue. -ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 H O U R S a d ay, i n t h e Philippines and the world from page 7 at w w w. f a c e b o o k . c om / angtangingdaan or www. a three-and-a-half month facebook.com/ANDKNK high as the markets expected (and look for “Ang Tanging Mr. Trump’s win and a Daan” broadcasts). Phone: R e p u b l i c a n - d o m i n at e d 0922 833 43 96, 0918 574 Congress would ensure a 0193, 0977 805 9058. Email: “significant” fiscal stimulus, batasmauricio@yahoo.com. which would in turn push US interest rates higher. Dollars traded on Friday from page 5 reached $707.5 million, nearly (sq.m.) of gross floor area double the $357 million (GFA). It now operates 21 that exchanged hands on buildings spanning 312,000 Thursday. sq.m. By yearend, Filinvest Land’s office portfolio will have reached 348,000 sq.m. or around 70% more than 2014 levels. Filinvest Land is growing its retail rental space portfolio alongside. The 200,000 sq.m. Festival Mall in Alabang, for instance, is undergoing a major expansion project to add almost 100,000 sq.m. of GFA. The company is undertaking retail d e v e l o pm e nt s a s w e l l , including the Fora Mall in Tagaytay; Center Square Community Mall in Molino, Cavite; and Il Corso Mall in City di Mare, a township development in Cebu City. Filinvest Land’s retail portfolio is expected to reach more than 433,000 sq.m. of GFA or double the end-2015 level. “We are confident of sustained growth for the company as we continue to launch new residential projects in key locations nationwide and to complete our office and retail d e v e l o p m e nt s , f u r t h e r strengthening our recurring income business,” Filinvest Land President and Chief Executive Officer Lourdes Josephine Gotianun Yap said in the statement.
from page 2
Push... from page 2
and restore the depth of the river as a deterrent against flooding. This is an offshoot of the special report of Councilor Zaldy Ocon, who expressed concern over the possible increase of current of the CD O River due to t he heavy downpour which is continually affecting the city. In his special report, Councilor Ocon said during low tide boulders and sand bars are seen jutting out of the river. “Makita nato nga ang mga bato nanggimaw na,” he stressed. According to experts, it is alarming since the river swells too much, which may result to an increase of the river current and cause the redirection of its flows. The ongoing river protection has to be augmented with measures to restore the depth of the river, Ocon cited. As a result, Councilor Ocon proposed that quarr ying be allowed at the CDO River in order to remove the sandbars and restore the deepness of the river at no cost to the government. Ocon said he already discussed the matter with some legal and legitimate sand and gravel concessionaires in the city who are willing to quarry the said sandbars. “ Throug h quar r ying the city will not spend any centavo but instead we will derive income from the sand and gravel extracted from the river,” said Ocon. (JBD/ SP)
from page 4
companies emphasized the need for innovative offerings, the value of convergence and the importance of technology in order to achieve financial inclusion. G l o b e is a telecommunications company with a mobile subscriber base of about 65 million, while Cebuana Lhuillier is a micro-financial institution that has over 1,800 branches in the Philippines, and Mynt is a FinTech startup whollyowned by Globe and offers a range of key financial services.
Jitters...
Filinvest...
Pact... from page 5
of donation channels for Cebuana Lhuillier’s chosen beneficiaries, real-time posting of Globe Bills, reselling of Globe AMAX, a mass market postpaid product, and other innovations that that would make financial services more conveniently available. In addition to the commerci a l ly avai l able pro duc ts and s er v ices, the partnership will also yield business-to-business solutions and other initiatives catering to internal stakeholders. During the official announcement of the p a r t n e r s h i p, a l l t h r e e
A second trader pointed out that the peso tracked with the movement of other currencies in the region, reflecting an observed “risk aversion” among market players. “I would assume it’s still because of Trump. There was a major sell-off across Asian equity markets... I think fund managers are less optimistic towards emerging markets or high-yielding markets, so they are moving their capital to US markets for now,” the trader said in a phone interview. The trader said the central bank may have stepped in to temper the peso’s movement, as it closed five centavos shy of the P49 level and to provide liquidity amid a “panic buying” of safe-haven currencies like the US dollar. The Bangko Sentral ng Pilipinas sometimes steps in during currency trading to temper any sharp movements in the foreign exchange market, which may cause a sudden appreciation or depreciation of the peso.
Silk...
from page 10
Industry (DTI) represented by Ms. Ma. Eliza A. PabilloreProvincial Director with Ms. Elsie A. Limosnero-Business D e ve l opm e nt D i v i s i on Chief, Judy M. Aclan-Trade and Industry Development Specialist. The Technical Education and Skills Development Authority (TESDA) represented by Provincial Director Leo V. Velez and Supervising TESD Specialist. Tasked in the investment of human capital development, and match sericulture training to meet the demands of the textile industry. The Department of Science and Technology represented by the Provincial Science and Technology Director is in charge of the actual technology transfer of the sericulture processes. Together with Ms. Cheryl G. Lopez Officer-incharge of the Philippine Textile Research Institute Center. Gene C. Amay-Municipal Tourism Officer of the Local Government Unit of Laguindingan for rural enterprise productivity and rural tourism promotion. Representing the actors in the actual weaving of the silk - the Ayala Beneficiaries Association, Inc., Weavers MPC are Christine Ubagan and Reagan O. Acusar. With the gigantic task of reviving the industry, Governor Emano will meet the different
9
agencies involved for action taken in the improvement of the silk-weaving industry and the re-activation sericulture in the Province of Misamis Oriental. TESDA Misamis Oriental to coordinate with Cagayan de Oro City (Bugo) School of Arts and Trades (COBSAT) and the Philippine Textile Research Institute Technology Center (PRCITC) at Kalingagan, Villanueva, Misamis Oriental in the improvement of the silk loomweaving machine presently used by Ayala Beneficiaries Association Inc., Weavers MPC of Laguindingan, MIsamis. And in the light of the unprecedented success of Technology Transfer Mission in Kalibo, Aklan and Bago City, Negros Occidental the Team conducted a Post-Activity Assessment and Evaluation and other government stakeholders at Mulberry Suites Business Hotel, Cagayan de Oro City last October 28,2016 and threshed out the following concerns: thorough discussions on the learnings gathered from the weaving industry, moriculture, sericulture and raw silk processing. Presentation of the value chain analysis of the silk industry in Mindanao, capital requirements of the industry and the presentation of Executive Order supporting the Silk Industry by the Provincial Government Office of Misamis Oriental. KUDOS GOVERNOR BAMBI!
BusinessWeek www.businessweekmindanao.com
Monday | November 14, 2016
10
FEATURE
MINDANAO
Governor Bambi Emano Revives Mindanao Silk Production Industry Mission: “Technology transfer on sericulture to Negros Occidental”
A
By JOE PALABAO
multi-million s i l k pr o d u c t i on industry is now being revived and reactivated by our dynamic Governor Bambi Emano in Misamis Oriental to cater the silk industry’s needs in Mindanao and throughout the country. The industry revival made paradigm shift after years of low lying industry hibernation when a 14-men team delegation made a historic trip for a Technolog y Transfer Mission of Sericulture to Negros Occidental last October 11-14, 2016. For three (3) days, the 14-men delegation of the Technology Transfer Mission observed the silk weaving industry, the sericulture industry processes in Kalibo,
Aklan and Bago City, Negros Occidental, good practices of the weaving industry for application to actual technology transfer to the silk weaving industry in Misamis Oriental. During the mission, the team was able to know that silk is being extruded by a domesticated silkworm known as Bombyx mori w h i ch fe e d s s ol ely on mulberr y leaves. The silkworm spins cocoon from which continuous raw silk filaments are extracted. Silk is considered as the strongest and lightest fiber, has great elasticity, resilience and warmth, making an excellent, textile material. The team appreciated the reeling process of unwinding the cocoons to produce a
continuous thread of raw silk fit for weaving. Reeling involves various operations like drying of fresh cocoons, sorting and cooking of dried cocoons, reeling and rereeling of raw silk. Reeling capacity to produce raw silk yarn was also learned by the team. Silkworms usually feed on the leaves of Mulberry plants and also appreciation of mulberry plantation was observed and taken into consideration. Silk is made into “Barong Tagalog”, gowns, shawls, handkerchiefs, linens, fashionable garments, men’s and ladies’ accessories, home furnishing, novelty/ gift items and for other consumer and industrial applications. Historically, APEC Summit 2006 heads of states were wearing Barong Tagalog made of Philippine
(From left to right) TESDA Provincial Director Leo V. Velez, DTI Provincial Director Ma. Eliza A. Pabillore and Misamis Oriental Governor Yevgeny “Bambi” Emano.
Silk. Under the present administration-President Rodrigo Roa Duterte during his Inauguration wore a silk long sleeves made of
Mindanao Silk design by Fashion Icon-Mimi Parrel Pimentel from Cagayan de Oro City. Major Markets- Locally produced silk is used mainly by handloom weavers for the production of pure or blended silk fabrics. The fabrics are sold to both the local and foreign markets particularly France, Australia and Hongkong. It is known that cocoon -producing areas are the Cordillera Administrative R e g i on (C A R ), R e g i on 1 and Organization for Industrial, Spiritual and Cu ltu r a l Ad v an c e m e nt (OISCA) S ericulture at Barangay Tabunan, Bago
City, Negros Occidental of Western Visayas. During the trip, the team also appreciated the processes of Pina Weaving Industry and Abaca Weaving Industry and other fiber products with local usage and exportable value. Heading the Technology Transfer Mission is the ever active and industry driven Hon. Governor Yevgeny Vincente ‘Bambi’ B. Emano with his Chief of Staff Jonafe G. Tapulgo, Provincial Rice Report Officer-Ms. Barbette C. Roa, Ms. Yvonne Y. WagaProvincial Tourism Officer. Financing the Mission is the Department of Trade and Silk/PAGE 9
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Investments... from page 1
He said that despite the potentials offered by the oil palm industry to improve the standard of living of farmers, the plan did not push through as the New People’s Army objected to it citing environmental factors. Duterte said he will ask the National Democratic Front to reconsider its position against oil palm plantations. “ To d el ay b as e d on something which is not accepted by everybody – to the detriment of government plans to alleviate the standard of living ng tao – somebody should talk to them again maybe this would be one project we can ask about dun sa Oslo because while waiting for the final result ano man yan, kailangan natin we have to improve the lives of the people,” he said. “For as long as there is threat, we cannot do anything. But we will try again and again I will make sure to meet the experts of the world about water and the soil and ask them to explain why it is so,” he said. He said oil palm has not caused environmental destruction in Malaysia. “In Malaysia, it has not lost moisture or water. Kasi sa Agusan del Sur banda, matagal ng oil palm dyan (oil palm has been there for long) and proven to be a good source of revenue, and source of livelihood for the people there,” he said. Duterte added he would consider himself a “failure” if he fails to address poverty at the end of his six-year term. “Kung ang sitwasyon ganito lang (If the situation remains like this), I will consider myself really a total failure, not improving (the lives of the people) a few notches above. One thing for me to do is to, either resign or give it to somebody else, masyadong mabigat ang problema (the problem is so heavy),” he said.
Diokno... from page 1
will cause more problems, considering the huge infrastructure gap in the country. “We will continue to invest in infrastructure and human capital development because you create more problems if you delay,” he said. Diokno added that they are planning to borrow money – 80 percent from domestic and 20 percent foreign sources – to finance the massive infrastructure investments of the government, considering the lower interest rates offered by financial institutions. He, however, said that he is hopeful that Congress will pass the proposed tax reform bill. “How can you not invest with the huge backlog? We expect Congress to pass the tax reform package. We are very positive that Congress will be cooperative as well as the and SC [Supreme Court],” he said. Finance Secretary Carlos G. Dominguez said that it is
high time to invest heavily on infrastructure projects as the country is at its “Goldilocks moment in our economic history” where “interest rates are low, inflation is low, and a lot of liquidity domestically.” “If we do not use this moment and take advantage of it, to close our infrastructure gap now, when will we do it? When you look at the tax reform program, there are items there that are not exactly popular. However, if we don’t pass this legislation, how will we pay for our future infrastructure projects?” he said. Dominguez added that the government must take on the public infrastructure investments so that the next generation will not have to suffer the consequence of the poor infrastructure program today. “We need to seize the moment and make the hard decision at this point in time. If we will not do it, we will miss the boat,” he said. Dominguez added that they purposely proposed for tax reform early in the Duterte administration to allow Congress more time to correct the provisions of the proposed tax reform bill. “We are putting it early in the administration. They have two or more years to catch up. We are not putting at the end right next to election. Unfortunately, the unpopular parts of it will damage their political chances. If you put it early enough, there is time for the legislature to catch up and repair their political situation,” he said. He added that the tax reform bill could b e a “linchpin” of the country’s economy. “This is the time to do it. People are saying that it will be inflationary, yes, but the inflations are low,” Dominguez said. He said the tax reform measure will trigger better social services for the people, as the taxes collected will t ransl ate to addit iona l revenues. “We are using this increase expenditure on education, health, public infrastructure. It will be better for the Filipino people and make us a better nation. You raise the taxes, but you raise the benefits provided,” he said.
Bangsa... from page 1
Tourism program last week at the Grand Regal Hotel in Davao City that the BDP will be implemented in two phases once the enabling law that will create a new Bangsamoro government will be passed. He said the BDP 1 and the BDP 2 will be centered on economic and infrastructure development in the fiveprovince ARMM as well as in conflict-affected areas outside this region. Dipatuan said the implementation of the BDP 1, with a proposed funding of P116 billion, was supposed to commence under the past Aquino administration but it was halted due to the Mamasapano incident last
year. “We are pushing for the Bangsamoro Development Pl an w it h t he D ute r te administration to be given priority for implementation. We still believe in the BDP 1 and is still very relevant today as it represents the aspirations of whether Muslims, Lumads, or Christians,” he said. Un d e r t h e B D P 2 , Dipatuan said the proposed budget of P20 billion will be invested heavily on economic, livelihood, and infrastructure d e v e l opm e nt t h at w i l l involve development of the connectivity in the South Central Corridor (referring to Region 11 and Region 12) and the ARMM. He said that they are planning to allocate P5 billion for the upgrade of the Polloc Port in Parang, Maguindanao to make an international seaport to accommodate international shipping lines that will trigger development in the agribusiness sector in the Bangsamoro area. The BDA was formed on June 22, 2001 by virtue of the GPH-Moro Islamic Liberation Front (MILF) Tr i p o l i A g r e e m e nt o n Peace as the centerpiece of “relief, rehabilitation and development aspect.” Its tasks include, among others, determining, l e a d i ng an d m an a g i ng relief, rehabilitation and development projects in the conflict-affected areas and to implement projects jointly with the Philippine government. President Rodrigo R. Duterte signed last Monday the executive order that created the expanded B angsamoro Transition Commission (BTC). The BTC, w hos e chair wi l l come from the MILF, will be composed of 21 members – 10 from the GPH and 11 from the MILF. Presidential Adviser on the Peace Process Jesus Dureza said during the opening of the two-day Philippine Development Forum at the SMX Convention Center Davao on Tuesday that there will be a separate track for the Moro National Liberation Front (MNLF) faction of chairman Nur Misuari in the peace process but they will play a role in the crafting of an enabling law. He said that that they are separately handling the Misuari faction. “ We a r e s e p a r a t e l y handling the Misuari faction in another track. There is still a very deep division, in principle, between the two groups. You cannot wish that out immediately so we will have to develop an environment that they can eventually maybe better understand and accept each other. But in the meantime, we have to deal with them in two different tracks and the convergence will come when we go to Congress and submit the outputs,” he said. The 42-consensus points, which came out during the tripartite review between GPH and the MNLF, will be considered in the new enabling law, Dureza said.
He added that they hope to submit the draft to Congress by July 2017. “Now, they have come up with 42 consensus points, yung parang amendatory bill, to enhance the ARMM Law. They will input all of these together to amend ARMM Law, the BTC will come up with another law to replace the ARMM Law,” Dureza said. The Muslimin S ema faction of the MNLF will get three seats as among the 10 GPH nominees, he said. The BTC is an independent body whose task will be to consolidate all peace agreements and legislation into one enabling law on the Bangsamoro, call for an inclusive Bangsamoro Consultative Assembly to discuss the new draft of the enabling law, and submit to Congress the new version of the enabling law not later than July 27.
“We, the majority that stands to be the most affected by the revocation of the lease AVA, were left out and deprived of the reasonable opportunity to express our position for the consideration of the PARC in coming up with its decision,” the petition reads. Mr. Varona said that of the 762 beneficiaries, 459 are members of DAMARBMPC. Banana industry stakeholders in the Davao Region earlier cautioned DAR about its move to review existing AVAs. “Regulating these agreements will just drive a w a y t h e c o m p a n i e s ,” said Stephen A. Antig, executive director of the
Pilipino Banana Growers and Exporters Association, Inc., which groups the country’s major exporters. For m e r Ag r i c u lt u re Secretary and now Bohol Rep. Arthur C. Yap said the increase in the demand for Philippine banana in the international market would require the development of 25,000 hectares (ha) in addition to the current 85,000 ha. The count r y is als o expecting more demand from two other markets: China, following the President’s recent trip; and Iran, after Finance Secretary Carlos G. Dominguez III met with Iranian Ambassador to the Philippines Mohammad Tanhaei.
Banana...
CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers from pageKalambagohan 1 Sts., Tel. # (08822) 727-829 * Labor Telefax Union (DAMLU) # (088) 856-1947
recentlyCAMIGUIN submitted a petition BRANCH B. AranasRegional St., Poblacion, Mambajao, to DAR Director Tel. # (088) 387-0491 John Camiguin M. Maruhom appealing CORRALES BRANCH of their for the continuation Corrales Ave., Cagayan de Oro City leaseback agreement and DIVISORIA BRANCH employment with MEPI. Atty. Erasmo B. Damasing Bldg., #61 Don A. Hermando Velez St., CagayanH. de OroVarona, City Tel. # (088) vice-chair of 857-3631 DAMARBMPC, explained that if DAR LAPASAN BRANCH Lapasan to Hi-way, Cagayan de Oro AVA, City decides revoke the Tel. # (088) 231-6739 they would be deprived of the parcels ofCARMEN land BRANCH that would be Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011for free. distributed to them “In our contract, the company (MEPI) is donating the 800 hectares to the members of the cooperative provided that it be allowed to use it for 30 years. After that, it will turn over the land to us for free,” explained Mr. Varona, adding that the end of the contract is 14 years away. Elsa Bo-o, manager of the cooperative, informed the media that DAR’s Mr. Maruhom assured the group that he will submit copies of their position paper to President Rodrigo R. Duterte and Agrarian Reform Secretary Rafael V. Mariano. In their position paper, t he g roup s ai d : “ [ W ] e honestly believe that there is no ground whatsoever to question the lease AVA, much less to revoke or annul the same.” Rizalito A. Abunda, a member of the DAMARBMPC board of directors, said that if the contract is revoked, “it would be very difficult for us to earn what we are earning now.” “We need the status quo so that we will continue to live the comfortable life that we are having now,” he added. The farmers added that the Presidential Agrarian Reform Council (PARC) did not consult them before recommending the revocation of the contract to DAR while two other cooperatives -- the Sto. Tomas Individual Farmers Agrarian Reform Beneficiaries Cooperative and the Sto. Tomas Agrarian Reform Beneficiaries Cooperative -- “had every opportunity to fully ventilate their side.”
CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947
DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631
CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491
LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739
CORRALES BRANCH Corrales Ave., Cagayan de Oro City
CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011
Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City Branch 22 OFFICE OF THE PROVINCIAL SHERIFF SHERIFF’S NOTICE OF SALE EJF File No. 2016-472 Upon Extra-Judicial petition for sale under act 3135 as amended filed by HOME DEVELOPMENT MUTUAL FUND or PAG-IBIG FUND, mortgagee, with office address at Pag-ibig Building, J.R. Borja St., Cagayan de Oro City, against LASYLEE LOU L. AVANCENA, married to Jerome N. Marte, mortgagor/s, of legal age/s, Filipino/s with postal address at Block 33 Lot 1 & 3 , San Agustin Valley Homes, Canitoan, Cagayan de Oro City, to satisfy the mortgaged indebtedness which was as of August 5, 2016 amounts to TWO HUNDRED FORTY EIGHT THOUSAND NINE HUNDRED EIGHT PESOS and 03/100 (P 248,908.03) Philippine Currency including interest & penalty charges, excluding attorney’s fees and expenses of foreclosure, the undersigned sheriff will sell at public auction on November 28, 2016, at 10:00 a.m. or soon thereafter at the City Tourism Hall, City Hall, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the herein described property and all improvements thereon to wit: TRANSFER CERTIFICATE OF TITLE NO. T-194167
Lot : Portion of Lot : As Surveyed for : Location : Area :
Lot 1, Block 33, Psd-10-039732 Lot 1, Pcn-104305-00191 Pueblo de Oro Development Corporation Canitoan, Cagayan de Oro City FIFTY FOUR (54) SQ.M. MORE OR LESS
TRANSFER CERTIFICATE OF TITLE NO. T-194168
Lot : Portion of Lot : As Surveyed for : Location : Area :
Lot 3, Block 33, Psd-10-039732 Lot 1, Pcn-104305-00191 Pueblo de Oro Development Corporation Canitoan, Cagayan de Oro City FIFTY FOUR (54) SQ. M. MORE OR LESS
Prospective buyers/bidders may investigate for themselves the title of the herein described property and encumbrances thereon, if any there be. All sealed bids must be submitted to the undersigned on the above stated time and date. In the event the public auction should not take place on the said date, it shall be on the next working day without further notice. Cagayan de Oro City, October 11, 2016. FOR THE PROVINCIAL EX-OFFICIO SHERIFF:
(Sgd.) JOEL LYDWEL G. PAKINO Sheriff IV
BWM: Oct. 31, Nov. 7 & 14, 2016
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MOnday|november 14, 2016
CONGRATULATIONS AWARDEES!