BusinessWeek M I N DA N A O CREDIBLE
Volume X, No. 69
AS OF 6:00 PM NOV. 15, 2019 (FRIDAY)
FOREX
PHISIX
US$1 = P 50.650
7,932.96
3
X Briefly
cents
0.75
YOUR MINDANAO-WIDE BUSINESS PAPER
RELIABLE
X
points
Strong economy THE PHILIPPINE economy is “ready to soar” after its strong performance in the third quarter and is likely to grow by 6 percent or above for the rest of the Duterte presidency despite the international trade friction and other global challenges, Finance Secretary Carlos Dominguez III said. Dominguez said the massive rollout of the “Build, Build, Build” infrastructure program plus the bold policy and administrative reforms being undertaken by President Duterte support this rosy outlook for “one of Asia’s powerhouse economies,” which posted a 6.2 percent growth in the third quarter and expanded by an average of 6.4 percent in the first 13 quarters of the Duterte administration. “You will find this country an oasis of optimism in a world burdened with trade wars and uncertainties. While most of the mature economies are expected to grow slower this year, the Philippines stands staunchly as a growth leader in this dynamic region of the world,” Dominguez said.
Disaster resilient firms DAVAO City — The Davao City Chamber of Commerce and Industry, Inc. (DCCCII) has signed a partnership agreement with the Asia Pacific Alliance for Disaster Management (A-PAD) to develop a continuity program that will help small firms sustain their operations during calamities. “A business continuity program protects the business and lessens impact of disasters,” DCCCII President Arturo M. Milan said during this week’s Habi at Kape forum. A-PAD will also help in the implementation phase, targeted for early 2020. Mr. Milan said while most medium and large businesses have their respective continuity programs, the micro and small establishments need to “change their mindset” in terms of preparing for disasters such as the recent earthquakes that hit parts of Mindanao, including Davao City.
IN-DEPTH
All M’danao utilities to join WESM by Jan. 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
Monday|November 18, 2019
P15.00
Thank you for trusting us!
By CARMELITO Q. FRANCISCO, Correspondent
A
LL power distribution utilities (DU) in Mindanao, both electric cooperatives and private companies, have applied to participate in the wholesale electricity spot market (WESM), which is targeted to start commercial operations on Jan. 26.
Eric Niño U. L ouis, corporate communications manager of the Independent Electricity Market Operator
of the Philippines, Inc. (IEMOP), said it is now waiting for the DUs to UTILITIES/PAGE 11
BARMM gov’t assures protection of journalists By FERDINANDH B. CABRERA, MindaNews
COTABATO City – As the 10th anniversar y of the massacre of 58 persons, 32
of them from the media is being commemorated this PROTECTION/PAGE 9
LOCALLY-MADE BOLOS. A tourist takes a look at the display of bolos made by local blacksmiths along the road in Mambajao Camiguin. photo by gerry lee gorit
Davao business leader urges amendments to building code By ANTONIO L. COLINA IV, MindaNews
DAVAO City — The President of the Davao City Chamber of Commerce and Industry Inc. (DCCCII) has called for a review
of the four-decade-old Presidential Decree (1096) or the National Building Code of the Philippines BUILDING/PAGE 11
Mindanao culture showcased at 2nd Budayaw fest in Malaysia By CHE PALICTE, PNA
OFF TO SEA. Fishermen in the coastal village of Barangay Bonbon, Cagayan de Oro prepare their boat before heading out to sea. photo by gerry lee gorit
DAVAO City – Mindanaoan culture and arts will be featured in the 2nd Brunei-Indonesia-MalaysiaPhilippines East Asean Growth Area (BIMP EAGA) Budayaw Festival of Cultures and the Arts
from November 19 to 23, 2019 in Kuching, Sarawak, Malaysia, an official said on Friday. “Mindanao is all set to celebrate and share our cultural and artistic BUDAYAW/PAGE 11
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776
2
Local
DOT, LGUs identify 4 major projects for Siargao Island
B
UTUAN City -Four major priority investment projects have been identified by the Department of Tourism (DOT) 13 (Caraga) and the local government units (LGUs) of Surigao del Norte province to be implemented in Siargao Island. The projects, under DOT's TouRIST program, will be supported by the World Bank (WB). TouRIST stands for Transforming Communities towards Resilient, Inclusive and Sustainable Tourism Program, in which Siargao Island was chosen as among the tourist destinations in
the country identified as recipients by the DOT and WB. The other recipients include Davao City, the Island Garden City of Samal, Bohol, and Siquijor. Jean A. Camarin, DOT13 officer-in-charge, said Thursday the technical working group (TWG), composed of representatives of the DOT and the recipient LGUs, has identified a solid waste management facility, ways to improve water facilities, livelihood programs, and disasterresilient projects as the priority investment projects for Siargao Island under
TouRIST. “This is the initial project identification that the TWG has identified for Siargao. The next phase is the preparation and finalization of the feasibility studies for these identified projects,” Camarin said. She added that the identification of the priority projects was based on the technical studies conducted by the TWG in Siargao Island. The identified projects will be submitted to the WB for the preparation and finalization of the feasibility studies, Camarin said. “When the feasibility
studies are finalized, then we will be able to determine how much loan will be needed to fund these projects,” she added. Last October, Surigao del Norte Governor Francisco Matugas met with Tourism Secretary Bernadette Romulo-Puyat and WB officials in line with the preparations for the implementation of the TouRIST program in Siargao. The WB will allocate a USD300-million loan to fund the implementation of projects under TouRIST. The TouRIST program envisions to develop resilient, inclusive and sustainable tourism destinations through the establishment of an appropriate mechanism and implementation of requisite support projects to ensure destination competitiveness and sustainability. (PNA)
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019
IP leader hails gov’t aid for isolated DavNor community DAVAO City -- An Indigenous Peoples (IP) leader of an isolated community in the Davao del Norte town of Kapalong has expressed gratitude for the November 10-14 outreach, saying it was the first time for the village to receive basic services from outside groups, including the government. Datu Bansing Balamban, tribal chieftain of Sitio Tapayanon, Kapalong, said the village's geographic isolation has made it difficult for the government or any organization to deliver any form of services. Balamban said the village's existence was only discovered when government troops belonging to the Army’s 60th Infantry Battalion (IB) had wandered into the area while on a combat operation on February 25 this year. Located at the edge of Kapalong’s Barangay
Gupitan along the boundaries of Davao del Norte, Bukidnon, and Agusan del Sur, the area was identified by military authorities as a lair of the communist New People's Army (NPA). Upon hearing of the area's discovery from the Army, Governor Edwin Jubahib visited the place in July and assured the villagers of government support as part of the Capitol's peace engagement initiative. Early this month, Jubahib fulfilled that promise and assembled a multi-stakeholder outreach to hold a four-day "service caravan" that ended on Thursday. Because of the absence of access roads, people and goods used in the caravan were ferried by military choppers in batches. Balamban said residents were grateful for the various services poured into the area during the caravan, led by the provincial government, national line agencies, the Army, and even charitable organizations. Some 700 residents benefited from the November 10-14 service caravan, which included medical services, civil registration, household assessment for the Listahanan program of the Department of Social Welfare and Development, livelihood training, Alternative Learning System, and distribution of school supplies, relief AID/PAGE 9
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
MONDAY|NOVEMBER 18, 2019
Motoring
3
2020 Honda Pilipinas Dream Cup, in search for new breed of riders
B
ATANGAS, Philippines – November 12, 2019 – Honda Philippines, Inc., the number one motorcycle manufacturer in the country, gears up anew for next year’s actionpacked Honda Pilipinas Dream Cup (HPDC) as it announces the tryouts for the new breed of riders, happening on December 14 at the Clark International Speedway in Mabalacat, Pampanga. The tryouts for the 2020 Honda Pilipinas Dream Cup call for young talents, ages 10-17 years old, to showcase their ability to compete in high-level road racing and get a chance to be a full-f ledged Honda Racer for local and prestigious international motorcycle racing competitions. During the tryouts, aspiring riders will use Honda’s one-make racing machine Honda CBR150R with MotoGP DNA, designed with precision for full-trail blazing and complete racing experience without the hassle of slowing down. All aspiring racers are welcomed to join the tryout and have themselves experience becoming a Honda Racer by completing the
application form, which can be downloaded via HPI’s official Facebook page and website. HPI will then release a confirmation to the application on November 28. The application started on October 25 and ends at noon on November 25. This year, 14-yearold Alfred Jakob Sablaya bagged the championship, setting him to join the Idemitsu Asia Talent Cup Tryouts at Sepang Go Kart Race Track in Sepang, Selangor, Malaysia and gearing him a slot for the 2020 race season. With his talents and potential, he may become the next rider to join the ranks of the previous Filipino racers, including HPI's current international competitor Troy Alberto. “Young riders should not pass on this opportunity to experience and participate in the thrilling Honda tryouts race, for it opens doors to various opportunities, including high-ranking local and international competitions,” said Hervic Villa, Department Manager of Motorcycle Planning Office. The racing event is also in line with HPI’s ONE DREAM campaign,
which aims to serve Honda Motorcycles as tools in achieving one’s dream and unite all motorcycle riders through various funfilled activities. For more details about 2020 Honda Pilipinas Dream Cup Try Out, Like and Follow HPI’s Honda Philippines, Inc. and Instagram page, @ hondaph_mc.
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
NUTS & BOLTS
JEROME DE LA FUENTE Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht. The Thai baht has been under pressure due to imbalanced capital flows in the current environment of
Editor-in-Chief
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
A brother like that Think a minute…This is a true story about a man named Paul whose brother gave him an early Christmas present. It was a brand new car! A few days later, Paul was leaving work to go home on Christmas Eve. A boy named David was standing by Paul’s shiny new car. He said: “Sir, is this your car?” Paul answered, “Yes, my brother gave it to me for Christmas.” David looked surprised. He said: “You mean your brother gave it to you so it did not cost you anything? Wow! I wish…” But the boy stopped, and didn’t finish his sentence. Paul knew David was going to say he wished he had a brother like that. But he was so surprised when the boy said: “I wish I could BE a brother like that!” Paul then asked David if he would like to ride in his car. “Oh, Yes!” he answered. “I’d love to!” Paul and his new friend had been riding a while when David said: “Mister, would you mind driving in front of my house?” Paul smiled, thinking David wanted to show his friends that he was
SPEAKING OUT
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 riding in a new car. David asked Paul to stop in front of a certain house. The boy jumped out of the car and ran into the house. A few minutes later, Paul saw David coming back out carrying his crippled, little brother. He carefully sat his brother down on the steps in front. Sitting down next to his brother, David pointed to Paul’s new car. He said to his brother: “See that car, Buddy! This man’s brother gave it to him for Christmas. And someday, I’m going to give you one just like it. Then you can ride in it and see for yourself all the nice Christmas things in the stores that I’ve been BROTHER/PAGE 11
highly uncertain and volatile external conditions, the Ministry of Finance (MOF) and the Bank of Thailand (BOT) decided to relax regulations to facilitate capital outflows to help promote capital flow balance and lessen pressure on the baht. Such relaxations include allowing exporters to keep foreign currency proceeds overseas, allowing retail investors to invest in foreign securities without going through a Thai intermediary institution and allowing businesses and individuals to transfer funds abroad more freely. These relaxations took effect last 8 November 2019, with details as follows: 1. Repatriation of export proceeds
• Exporters with proceeds below USD 200,000 per bill of lading will be allowed to keep the proceeds abroad, without a time limit (a relaxation from the current USD 50,000 threshold.) In 2018, bills of lading with value less than USD 200,000 amounted to export value of over USD 100 billion, accounting for almost half of all Thai exports. • Exporters with foreign currency proceeds exceeding the above new threshold will be allowed to use the revenues to offset foreign currency expenses, without having to repatriate the funds. Exporters can simply register with the BOT and provide necessary documentation to commercial banks, without prior approval from the BOT. • Ru l e s o n f o r e i g n
currency deposit (FCD) account held with onshore banks will be streamlined to provide flexibility in managing foreign currencies. The above relaxations will help businesses reduce fund transfer costs and manage foreign exchange risks more efficiently. In addition, the BOT has been in discussion with the Minister of Finance to increase the threshold for export proceeds that do not need to be repatriated to USD 1 million per bill of lading within the next three months. Such proceeds account for approximately 80 percent of all exports. 2. Investment in foreign securities • Retail investors will be allowed to invest up to RULES/PAGE 11
Looking back (1)
NELSON CONSTANTINO GILBERT Y. CHAO
MONDAY|NOVEMBER 18, 2019
BOT relaxes rules to Curb Strong Baht
BUSINESSWEEK MINDANAO CORPORATION Publisher DANTE M. SUDARIA President/CEO
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
IGNACIO BUNYE On July 3, 2008, I assumed my post as a member of the Monetary Board (MB) of the Bangko Sentral ng Pilipinas. It was an auspicious moment as it coincided with the 15th anniversary of the Bangko Sentral ng Pilipinas. On the same day, two outstanding members of the Monetary Board, Dr. Vince Valdepeñas and Atty. Raul Boncan completed their respective terms. Immediately prior to my appointment at the MB, I served for six years at the
cabinet of former President Gloria Macapagal Arroyo. At various periods during my Ma l ac añan st int , I served as Press Secretary, Presidential Spokesperson, Acting Executive Secretary, and Presidential Political Adviser. Before that, I served in Congress as Representative of the lone district of Muntinlupa City. Before Congress, I had the privilege to serve as Mayor of Muntinlupa from 1986 to 1998, during which period Muntinlupa metamorphosed from a 5th class municipality to a highly urbanized city. At one point, I also served, in a concurrent capacity, as Chairman of Metro Manila Authority, the forerunner of the present-day Metro Manila Development Authority. Prior to my joining the public service, I was an investment banker and a commercial banker. While taking up law at the Ateneo, I worked as a radio and, later,
as a newspaper reporter. My BSP stint, although relatively quieter than my previous responsibilities, was nonetheless just as fulfilling. In its own way, it was also very exciting. In 2007, a year before I joined the MB, the sub-prime mortgage crisis in the United States unfolded. In 2008, inflation in the Philippines, fueled by oil price spike was at a high single digit. Barely two months later, on September 2008, the Lehman bankruptcy, the largest in US history, became the principal trigger of the global financial crisis. The subsequent Eurozone crisis starting 2009 provided the additional after-shocks. The Monetary Board, under the leadership of then Governor Amando M. Tetangco, Jr., had to dig deep into its tool kit to bring down inflation to manageable levels. It also helped keep financial institutions stable
and resilient in the face of the adverse external environment. At the same time, the Bangko Sentral relentlessly pushed its advocac y of financial inclusion. I am indeed proud to have been a part of Team BSP which made all of the above possible. As a member of the Monetary Board, I also served as a member of the Board Risk Oversight Committee which formulated policies on monitoring, assessing and responding to various risks to which BSP is exposed. I was Advisor to the Cu r re n c y Man a ge m e nt Committee which ensures that that we always have an ample supply of clean notes and coins needed by our growing economy. I likewise ser ved as Advisor to the Numismatic Committee. The NUMISCOM prepared the spade work for the design, approval LOOKING/PAGE 11
We need human devices IN OUR relationship with God and with others, we need these human devices that would help us keep a lively awareness of our duties towards them and especially of our need to relate everything to God. Yes, we have to us e f i r s t t h e s pi r itu a l a n d supernatural means to keep that relationship going. They have priority always. But for these spiritual and supernatural means, like prayer, sacrifice, sacraments, etc., to be truly effective, we need those practical human devices also. Without the latter, the former would be floating on air. The spiritual and supernatural means would remain in the world of theories and intentions. But of course, without the former, the human means can only mean nothing. They would be spiritless and vulnerable to be taken advantage of by unwelcome forces. These two means should go together.
The human means can be anything that we can see, touch, hear or feel, to which we attach some special spiritual and supernatural meaning. Of course, we can start with having some crucifixes, images of God, Christ, saints and angels in the places where we usually find ourselves, like our bedroom, office, car, etc. They can easily elicit in us some spiritual and supernatural considerations every time we see, touch or kiss them. But we have to be more inventive when it comes to all the other places and situations that we can be in. While in the street, for example, as we drive or walk or do some exercise, we should have appropriate human devices to keep us on the spiritual and supernatural track and not get swallowed up by merely mundane considerations. For example, we can consider giving some spiritual meaning to objects
we usually see in the streets. Like whenever we see a car, we can choose to say “Thank you, God, for this means of convenience,” instead of just looking at its brand, its color and shape, its beauty or its lack of it. And whenever we see billboards, we either say “Thank, God,” or “Praise, God,” or “S orr y, Lord,” depending on whether the billboard is good or not so good. Same whenever we see buildings and the many people around. We r e a l l y s h o u l d relate everything to God. That should be the first consideration before we start assessing the human and temporal value these things can have. Doing this should be like an instinct in us. And in our work, we should also be quick to relate things to God, otherwise we can get carried away by merely earthly considerations, concerned only about the technicalities
HINTS AND TRACES
ROY CIMAGALA and failing to relate it to our proper ultimate goal. The technicalities of our work should not be a problem or an obstacle in our relationship with God and with others. In fact, they can and should be converted into means and occasions to relate us to God, either praising God or thanking him or expiating for sins in general or asking for some favor from him. It would truly be helpful if we are clear about what spiritual and supernatural c on s i d e r at i on s w e c a n DEVICES/PAGE 11
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019
5
CorporateWorld
FDC profit rises 10% in Q3
F
ILINVEST Development Corp. (FDC) reported a 10% increase in profit during the third quarter as it saw double-digit growth in revenues from its residential, hospitality, banking and power businesses and an almost 200% increase in its sugar business. In a regulatory filing Friday, the Gotianun-led holding company said its attributable net income in the July to September period stood at P2.85 billion, up
from P2.59 billion last year. Total revenues jumped 23% to P18.03 billion, coming mostly from its real estate, banking and power segments. Sale of lots, condominiums and residential units contributed P5.06 billion (up 17% from last year) while mall and rental revenues added P1.6 billion (up 21%) during the three-month period. Banking and financial services generated P7.4 billion
in revenues to rise 24% from a year ago, as the power segment grew 13% to P2.43 billion and hospitality operations jumped 26% to P784.27 million. Revenues from the sugar business soared 197% to P754.68 million. However, an 18% increase in total costs and expenses to P16.06 billion during the third quarter tempered the growth in FDC’s bottomline. Year to date, the company’s
attributable net income climbed 16% to P8.98 billion as total revenues grew 17% to P55.26 billion. Total costs and expenses during the nine months stood at P47.44 billion to rise 16% from last year. In a statement, FDC President and Chief Executive Officer Josephine Gotianun-Yap said the company expects to sustain its growth momentum approaching the end of 2019.
“We are pleased with the year-to-date performance of the group… We are poised to finish 2019 as strongly with sustained robust business activity in our chosen segments that are focused on the underserved middle market,” she was quoted as saying. FDC controls Filinvest Land, Inc.; East West Banking Corp.; Filinvest Hospitality Corp.; FDC Utilities, Inc. and Pacific Sugar Holdings Corp., among others.
AirAsia adds Megawide sees stronger 2020 more local flights earnings as 9-month profit falls AirAsia Philippines is increasing flights and adding capacity for its flights from Manila to Davao, Iloilo and Cebu during the holiday season. “We are pleased to announce additional services to our top domestic destinations this coming holiday season,” AirAsia Philippines CEO Ricky P. Isla said, adding the budget carrier is adding over 100,000 seats. “The holiday season is a busy time for travellers and we hope that by putting these additional
services on, guests are able to make it home to their loved ones this yuletide season,” he added. The additional flights for travel between December 1, 2019 to January 31, 2020 will be available online and through the AirAsia mobile app. AirAsia will have flights from Manila to Davao, and vice-versa seven times a week. The company will have seven weekly flights from Manila to Iloilo, and from Iloilo to Manila.
DIVERSIFIED engineering and infrastructure conglomerate, Megawide Construction Corporation on Friday reported a 51.44-percent decline in net income during the first nine months of 2019 but was optimistic of strong earnings growth next year amid continued recovery in construction. Megawide generated a net income of PHP835.16 million from January to September from PHP1.72 billion in the same period last year due to the expected increase in group-wide finance costs
associated with new loans drawdowns for existing operations and expansion purposes, as well as the slower-than-expected conversion of construction revenues. But consolidated revenues grew by 7 percent in nine months from PHP12.8 billion to PHP13.7 billion, with the construction segment contributing bulk at PHP10.5 billion. In the third quarter alone, consolidated revenues accelerated to PHP5.5 billion from PHP4.6 billion.
“Admittedly our construction performance has been increasing but it's at the low-end of our forecast for the year. The upside is that it will give us more momentum for our construction business moving forward,” Megawide assistant vice president investor relations Rolando Bondoy said in a press briefing. Edgar Saavedra, Megawide chairman and chief executive officer, is optimistic about a stronger rebound for construction business especially amid the government’s Build,
Build, Build infrastructure program next year. “Actually it (program) is a good opportunity for us kasi parang (because it seems a) rebirth ito of the Philippines. For the last three, four decades, walang (there were no) major infrastructure… So it’s only now that we are trying to catch up,” he said. The company said new contracts continued to flow in as PHP14.6 billion worth of new projects have been secured. Saavedra sees 2020 a stronger year due to MEGAWIDE/PAGE 9
6
C
Environment
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019
DENR shuts down 4 open dumpsites in Pampanga
By MARNA DAGUMBOY DEL ROSARIO
ITY OF SAN FERNANDO, Pampanga -- The Department of Environment and Natural Resources (DENR) shut down on Tuesday four illegally operating dumpsites in this province.
Benny Antiporda, DENR Undersecretary for Solid Waste Management and Local Government Unit Concerns, issued the cease and desist order (CDO) against the City of San Fernando, and municipal governments of Bacolor and Porac for operating the illegal dumpsites. The open dumpsites were located at Lara village in City of San Fernando, Maliwalo in Bacolor town, and barangays San Jose Matli and Matli Dos, both in the town of Porac.
"Poor waste management at dumpsites poses serious threats not just to the environment, but also to public health. That is why, we are taking our messaging to uphold proper waste disposal to a higher level to encourage communities, especially our local government units, to not make open fields as repository areas for wastes," he said. Under the law, establishment and maintenance of an open dumpsite is strictly prohibited. The DENR found
mixed garbage of plastics, diapers, styrofoam, and even hospital wastes like syringe and tube in the dumpsite. Antiporda said the DENR is keeping an eye on the operations of illegal dumpsites, since it bears a serious impact on the ongoing cleanup and rehabilitation of Manila Bay. “We cannot clean Manila Bay if we allow this,” he said, pointing out that dumpsites have leachates which could flow to nearby rivers and bodies of water. The DENR also summoned the local chief executives and their respective municipal councils to explain the operations of the illegal dumpsite and to present their immediate plan of action for the closure and rehabilitation of these garbage dumps.
“They [municipalities] were given seven days to explain the illegal operation of the dumpsite, as supported by the necessary documents, clearances and other permits issued pertaining to the implementation of the disposal site,” he said. Republic Act 9003, or the Ecological Solid Waste Management Act of 2000, provides that no open dumps shall be established and operated, nor any practice or disposal of solid waste by any person, including LGUs, which constitutes the use of open dumps for solid wastes, is allowed. Any person found violating the law shall be fined with PHP500,000 plus an amount not less than 5 percent but not more than 10 percent of its net annual income during the year. But if local government
officials and officials of a national agency are found guilty of violating the law, they can be charged administratively in accordance with Republic Act 7160 or the Local Government Code. Meanwhile, Mayor Edwin Santos denied the existence of an open dumpsite in the City of San Fernando. “We are not operating an open dumpsite. We only have the City Transfer Station,” Santiago said in a statement following the issuance of a cease and desist order against the operation of the facility located at Lara village here. City Environment and Natural Resources Officer Regina Rodriguez also said no dumpsite is operating in the city. Rodriguez said the former dumpsite has been converted to a transfer
station when it was rehabilitated through the city’s greening program. “We are fully implementing RA 9003. From the garbage collection, to the sorting and transferring, our system works. We are in partnership with the Metro Clark Waste Management Corporation which collects the garbage every day from our transfer station. We will never tolerate the existence of an open dumpsite here in San Fernando,” he said. Rodriguez added that the transfer station was reviewed and approved by the DENR Region 3 pursuant to the Department’s Administrative Order 9, series of 2006, or the “General Guidelines in the Closure and Rehabilitation of Open Dumpsite and Controlled Dump Facilities.” (PNA)
Signal 1, 2 up in DENR launches documentary to raise Luzon, Visayas areas awareness, funds for tamaraw conservation By MA. CRISTINA ARAYATA, PNA
SEVERAL areas in Luzon and Visayas are under tropical cyclone wind signal (TCWS) no. 1 and 2 as tropical storm "Ramon" maintains its strength, the weather bureau said Thursday afternoon. Ramon was last eyed 500 kilometers east of Baler, Aurora, heading north-northwest at 15 kph. It has maximum sustained winds of 65 kph near the center, and gustiness of up to 80 kph, according to the Philippine Atmospheric, Geophysical
and Astronomical Services Administration (PAGASA). TCWS no. 2 was raised over Catanduanes, while the eastern portion of Isabela (Divilacan, Palanan, Dinapigue), Northern Aurora (Dilasag, Casiguran, Dinalungan), Polillo Island, Camarines Norte, Camarines Sur, and Albay were put under TCWS no. 1. Light to moderate with occasional heavy rains may be experienced over SIGNAL/PAGE 9
THE Department of Environment and Natural Resources (DENR) has launched a powerful documentary on the tamaraw (Bubalus mindorensis), which aims to increase awareness and raise funds for the critically endangered animal that can only be found on Mindoro island. “Suwag o Suko: Saving the Tamaraw from Extinction” is a onehour film that tackles the economic, social and cultural significance of tamaraw, as well as the incessant efforts and hard
work by tamaraw rangers who put their lives at risk to protect it from hunters. The documentary, which made a debut at the National Museum of Natural History on October 30, was produced through the partnership of the DENR and the Biodiversity Finance Initiative (BIOFIN) of the United Nations Development Programme, with the help of young film practitioners. The movie premiere capped the celebration of October as Tamaraw Month. DOCUMENTARY/PAGE 9
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019
Banks urged to go into microfinance
T
HE BANKING INDUSTRY should tap the large microfinance market despite the challenges it poses as it is seen to contribute to the development of other sectors which use financial services and ultimately help boost economic growth. Speaking to delegates and top officials of banks around the world during the 36th Asian Bankers Association Conference held in Makati City yesterday, Rizal Microbank President Raymundo C. Roxas said there is a huge market to tap for microfinancing in poor and low income households and microenterprises which belong to the D and E classes. “We have to remember that most of the end-users are consumers that patronize the products and services of the large companies we serve belong to the base of pyramid and there are a quite number of them. If we do our part in ensuring that these market segments are made part of inclusive growth and development, then we are also ensuring the fate and future of other customers and clients, and ultimately, the fate and future of our own organizations,” Mr. Roxas said.
However, he cited the challenges in venturing into microfinance, including the market’s lack in financial literacy, having minimal real estate properties and fixed assets to offer as collateral, as well as clients having labor-intensive work who are mostly intimidated to go to banks. “Microfinance clients are geographically dispersed and mostly are found in rural areas, they have no financial records or credit history with formal institutions, they have minimal savings or none at all, and they have limitation in producing valid IDs,” he added. In fact, Rizal Microbank, the microfinance arm of Yuchengcoled Rizal Commercial Banking Corp., took eight years “to attain a significant portfolio to post a profit” as its loan book needed time to grow since loan sizes are relatively small, he explained. “With more available technology, the challenge of pursuing the unbanked and the underserved market segments due to the unintended high costs, can now be better addressed and improved,” Mr. Roxas said. For Philippine National Bank
President and CEO Jose Arnulfo A. Veloso, it is up to the industry to “aid the unbanked” and service those who borrow from informal sources from the risks of exploitation, even though he himself admitted that this task is challenging. As applicants find it difficult to acquire required documents, especially those in the provinces, Mr. Veloso said a national ID system will improve banks’ assessment of applicants and help them process and approve credit faster. “The road to digital has never been a smooth ride — more so in the Philippines. Friends and colleagues — the digital divide is real and is a serious issue in our country. Inter-connectivity remains to be an issue and price of telecommunications is still relatively expensive for many Filipinos,” he said in his speech in the same forum. He said that of the country’s total population of over 100 million, 15% still live in municipalities without financial services, while 34% have bank accounts and “a very small number” of 2.6% of the population have borrowed from a bank.
BSP cuts '19 average inflation projection THE Bangko Sentral ng Pilipinas’ (BSP) policymaking Monetary Board (MB) on Thursday lowered to 2.4 percent the central bank’s average inflation forecast for this year from 2.5 percent previously. “In the discussion, it was noted that inflation is likely to have bottomed out in October and it will start moving close to mid-point of the target by 2020 and 2021 as base effects starts to dissipate,” BSP Deputy Governor Francisco Dakila Jr. said in a briefing after the MB rate setting meet. The MB, however,
maintained the 2.9-percent average inflation forecast for 2020 and 2021, still at the lower half of the government’s 2 percent to 4 percent target band until 2021. Inflation peaked at 6.7 percent in September and October last year due to supply-side factors like the increase in rice prices because of lack of supply. However, the problem on rice supply has been addressed after the immediate release of all rice stocks from National Food Authority (NFA) warehouses in the second half of last year and the implementation of the
Rice Tariffication Law starting March this year. On the monetary side, the BSP hiked its key policy rates by a total of 175 basis points to help address inflation expectations. With these, inflation has sustained its deceleration, although an uptick was registered last May when the rate rose to 3.2 percent from 3 percent in the previous month. In the first 10 months this year, inflation averaged at 2.6 percent. Dakila said the base effects are expected to disappear toward the end of the year thus the
expectations for a rise of inflation rate near the mid-point of the target band until 2021. “Base effects, which have been negative up to October, (is) now (expected to) turn to be mostly on the positive side beginning November and continuing on through most of the months of 2020,” he said. The central bank executive said any “chances of (a) major revision of the inflation outlook is slim.” He added any change in the projection will “really just a matter of a few basis points.” (PNA)
Rural Bank employees refuse to turn over records to PDIC CLAIMS of depositors of the closed AMA Rural Bank of Mandaluyong, Inc. will be delayed as the bank refuses to turn over its records to the Philippine Deposit Insurance Corp. (PDIC). Last week, PDIC took over the liquidation of AMA Rural Bank of Mandaluyong after the Bangko Sentral ng Pilipinas (BSP) ordered the bank’s closure on Nov. 7. The payment of insured deposits, which was initially scheduled around Nov. 22-29, will be delayed unless the
7
Banking&Finance
bank’s employees comply, PDIC Executive Vice President of Receivership and Liquidation Sector Ma. Ana Carmela L. Villegas said. “Since then, the bank employees refused to account for and turn over to the PDIC the records under their individual accountabilities. Without these records, the PDIC will be unable to immediately pay the claims of depositors for insured deposits,” Ms. Villegas told reporters during a press conference in Makati City on Friday. She said demand
letters were issued to employees on Friday and they were given 24 hours upon receipt to comply. She added that under Republic Act. No. 3591 or the PDIC Charter, refusal to turn over or destroying or tampering bank records are considered as criminal acts and are punishable with imprisonment. PDIC Senior Vice President of the Deposit Insurance Sector Romeo M. Mendoza Jr. said since they are dealing with public’s money, the bank’s cooperation is very important to ensure
they will pay the correct amount to right account holders. In a statement sent days after their closure, AMA Rural Bank of Mandaluyong said it will contest the BSP’s order as they are “fit to operate in every capacity” and will seek ways to resume full operations. Citing available data, Ms. Villegas said the bank has 8,434 accounts as of end-June, with P1.4 billion worth of total deposits — P1.3 billion of which are insured. “The PDIC will REFUSE/PAGE 9
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
8
Billboard
RESORTS, HOTEL & RESTAURANTS DIRECTORIES
A PUBLIC SERVICE BY:
ALGEN’S DIVE RESORT (088) 3872015 APPLE TREE RESORT & HOTEL 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 0939-9076948 BAHAY BAKASYUNAN SA CAMIGUIN (088) 3871057 / 3870131 Fax: 3870278 BASAMANGGAS RESORT 08822-760564 Fax: 760565 CAGAYAN RIVERVIEW INN 8584245 / 729039 Fax: 8584245 CASA CRYSTALLA 8561704 / 722465 Fax: 722480 CASA ISABELLA (088) 8564065 CASA AZUCENA 8563402 / 09236593973 CHALI BEACH RESORT 732840 / 8552108 Fax: 8555941 CHANANTHON BED & BREAKFAST 8568189 / 3093095 COUNTRY VILLAGE HOTEL 8583004-06 Fax: 8583006 D’BUDGETEL 8564200/726643 Fax: 8564300 DAHILAYAN FOREST PARK 8568562 to 63 DE LUXE HOTEL 8572144 / 724548 Fax: 724563 DISCOVERY HOTEL 727814 / 8563896 Fax: 8563897 DUKA BAY RESORT (088) 3312290 Fax: 725265 DYNASTY COURT HOTEL 8574802 Fax: 857900 GRAND CITY HOTEL 8571900 / 728469 Fax: 723718
PRYCE PLAZA HOTEL 8583131 Fax: 726687 PRAWN HOUSE (088) 3095992 Fax: 8519219 RIDGE VIEW CHALET 8588946 / 8587946 Fax: 8588946 SEDA CENTRIO HOTEL 3238888 / 0917-577-5910 SOUTHWINDS HOTEL 724803 / 8562036 Fax: 8562036 STARGATE DREAM VACATION RESORT 8515003 / 8509999 THE VIP HOTEL 726080 / 8562505 Fax: 726441 RED PLANET 8800888/8801306 TRAVELERS POD 8518988
DM VILLARUY RESTAURANT 733790 GOLDEN AJIRANG I 856-5271 Fax: 727876 GRAND CAPRICE RESTAURANT 72-6955/856-2302 Fax: 72-4986
HOTEL SOGO 8520383 KINGSTON LODGE 8585696 Fax: 8585696
MISSY BON BON 8566852 / 09228606442 Fax: 8566852
N HOTEL (088) 8801924 PARAS BEACH RESORT 8568563 Fax: 8568563 PHILTOWN HOTEL 726295 / 8564402 Fax: 723104
WHILE many of us may have taken a well-earned vacation over the summer, cybercriminals were hard at work looking for new ways to target and exploit our networks, devices, and services. The Fortinet Threat Landscape Report provides insights into the top threats and trends discovered and tracked by the FortiGuard Labs team, and the report for last quarter shows that cybercriminals are continuing to focus on finding ways to stay a step ahead of their cybersecurity professional adversaries. When people consider cybercrime, they tend to think of some of the more high-profile events of the past that used sophisticated malware or exploited zero-day vulnerabilities. And while some efforts continue to be made in those areas,
most criminals focus on leveraging their existing resources. The top issues for Q3 are no different. Cybercriminals Are Looking to Augment Their Phishing Efforts Cybercriminals are targeting edge services Because over 90% of malware is still delivered via email, many organizations have responded by aggressively focusing on training users to identify phishing emails and not click on email attachments. They are also more aware of the importance of email security solutions. As a result, criminals have begun to expand their tactics by simply targeting other areas of the attack surface that aren’t being focused on. For example, over the past quarter FortiGuard Labs has observed attacks targeting publicly available
edge services with remote code execution exploits. Once criminals establish a foothold at the edge, they then use that attack vector to begin delivering their malware to targets inside the network, with the same result as having used phishing to deliver those same payloads. Bypassing adblockers whitelist malicious sites Another strategy is to
CAFÉ LAGUNA 8582999 Fax: 8567001
LA ILONGGA RESTAURANT 72-6183 / 857-3652 Fax: 72-4605
MIAMI INN 8581901 to 02 Fax: 725279/728486
By FORTIGUARD SE TEAM
HONORARY MEMBERS: DEPT. OF TOURISM 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: BIGBY’S CAFÉ 72-1071/857-5511/8575836 Fax: 711843
HOTEL KORESCO 8589749-50 Fax: 8589748
MAXANDREA HOTEL 8572244/729943 Fax: 724090
Threat Landscape Report for Q3 2019
VILLA PARAISO APARTELLE 3870419 Fax: 3870429
KAGAY-ANON RESTAURANT 728958 / 8563688 Fax: 8563843 / 729003
MALLBERRY SUITES 8541999 / 7249999 Fax: 8544999
MONDAY|NOVEMBER 18, 2019
UPTOWN CONDOTEL 8511800
HOTEL CONCHITA 8563856 / 727355 Fax: 8563857
MAPAWA NATURES PARK 8584402 Fax: 725265
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
SLERS HAM & CAFÉ 8551438 THAI ME UP 738424/3108424 Fax: 738424 BARKADAHAN GRILL 8551234 LA TEGOLA CUCINA ITALIANA 8585959 LIMKETKAI LUXE HOTEL 8800000 DEAR MANOK 8564914 / 8573413 LIMKETKAI LUXE HOTEL Landline: (088) 880-0000, Mobile: 0917-312-4563 Email: info@limketkailuxe.com
prevent adblocker security tools from blocking access to malicious content. Adblock Plus, for example, is an open-source browser extension that provides content-filtering and ad blocking for all of the major browsers, including Firefox, Chrome, Internet Explorer, Edge, Opera, Safari, Yandex, and Android. It also uses a key to tag approved advertisement sites so they can be whitelisted. However, this key has been identified by attackers and is being exploited to also whitelist their malicious sites. These webpages can then serve their malicious advertisements, or even function as a phishing page to users who rely on the adblocker solution to block malicious sites and content. The HTML/Framer. INF!tr IPS signature that detects these webpages is at the top of our list of REPORT/PAGE 9
Korean investment proposal sa MisOr, gihisgutan NAKIGPULONG ang mga Korean investors kang Gobernador Bambi Emano niadtong Nobyembre 12, 2019, sa katuyoan nga mohanyag sa ilang intensiyon nga mobubo og negosyo dinhi sa Misamis Oriental, laing planta na usab ang lauman nga matukod dinhi sa lalawigan. Si Dr. Jun Myung Ha, usa ka specialist sa immune system ug bacteria sa nasud sa Korea, uban sa iyang kapikas, si Baek Heui Sook; ug mga kaubang investors Han Myung Soo ug Jung Young Kyui mihanyag nga magtukod og factory sa cosmetics
products, tambal ug juice nga gama sa lubi ug berries. Sa ilang pakigpulong kang Gobernador Bambi, sila nagkanayon nga daku ang ilang pagtuo ug pagsalig sa kasamtangang pamunuan nga dili sila pasagdan o ba kaha kilkilan susama sa gibuhat sa mga kaatbang sa pulitika sa gobernador, hinungdan sa ilang pagsalig nga dili gayud masayang ang ilang puhunan, inay molambo pa kini sa umalabot nga mga panahon. Butyag usab sa grupo nga buot nilang motabang sa administrasyon ni Gobernador Emano
sa lakat sa agrikultura inabagan sa Department of Trade and Industry
(DTI) pinaagi sa coco coir factory, food innovation center, ug uban pa. Tungod niini, hilabina dugang ekonomikanhong kalihukan na usab kini dinhi sa Misamis Oriental, gimanduan ni Gobernador Bambi Emano ang iyang mga ulo sa departamento sa kapitolyo nga makigalayon sa mga Korean investors, hilabina ang pag-uban kanila suroy sa nagkadaiyang agricultural tourism sites aron mas maaghat pa ang mamumuhunan nga mobubo og negosyo dinhi sa lalawigan.
9
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019
Protection... from page 1
month, the spokesperson of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) here assured the protection of journalists even if they are critical of its officials, spokesperson Naguib Sinarimbo said. Sinarimbo said the Bangsamoro government recognizes press freedom as foundation of democracy and this should be honored and respected at all times. Fifty-eight persons were killed, 32 of them from the media, on November 23, 2009 when their convoy of vehicles bound for the provincial Commission on Elections office in Shariff Aguak, Maguindanao, was flagged down along the national h i g hw ay i n A mp atu a n town, Maguindanao by about a hundred men led by Datu Unsay mayor Andal Ampatuan, Jr. and herded towards Sit io Mas a l ay, Barangay Salman where they were killed. Leading the convoy was the wife of then Vice Mayor Esmael Mangudadatu, who was going to file her husband’s certificate of candidacy for governor of Maguindanao. Ampatuan was arrested and detained along with his father, Andal Amaptuan Sr., and three of his brothers, among them Zaldy, then Governor of the Autonomous Region in Muslim Mindanao. The National Union of Journalists of the Philippines (NUJP) will join families of 32 media workers during the mass to commemorate the 10th anniversary of the massacre in Sitio Masalay.
Aid...
from page 2
food, and other items. During the caravan, some 63 couples also tied the knot in a traditional mass tribal wedding. “We are very happy with the services extended by the government. We now feel that they truly care for us,” Balamban said. Lt. Amadeus Celestial, 60IB civil-military operations officer, said the delivery of government services to the isolated community underscored the government’s "relentless campaign" to tackle the root causes of insurgency. “We need to help Sitio Tapayanon because this area was once a refuge of the three regional commands of the NPA," Celestial said. (PNA)
Megawide... from page 5
catch up in construction re v e nu e s , n o r m a l i z i n g airport operations, and full commercial potential of Parañaque Integrated Terminal Exchange (PITX). “C onst r u c t i on ang pinakamalaking sipa (will be the biggest driver),” he added.“Finance costs are also expected to taper off with loan take-outs and possible refinancing at lower interest rates.” Megawide is the private partner of the Philippine
government for infrastructure projects such as the MactanCebu International Airport (MCIA) and the PITX. Saavedra said the company’s topline can easily grow by 35 percent to 50 percent next year. “We also see our transportoriented assets thriving in 2020, with airport operations reaping the benefits of our strategic marketing and route development initiatives and the continuous improvements in Cebu’s infrastructure, and land port commercial operations reaching full capacity,” he added. (PNA)
Refuse... from page 7
not hesitate to use the full force of the law to safeguard the interest of the depositing public,” she said. She also assured that if the bank will not cooperate, the state deposit insurer will have “alternative methods” to restructure the records and determine the amount of claims needed but it will take time to reconcile. Depositors with valid deposits and claims shall be paid up to the maximum deposit insurance coverage of P500,000.
Documentary... from page 6
DENR Assistant Secretary and concurrent Biodiversity Management Bureau Director Ricardo Calderon expressed hope the documentary would inspire more Filipinos to help save the tamaraw from extinction. “I hope ever y single F i l ipi no w i l l h ave t he opportunity to seeing reallife tamaraws today, and the coming years, decades and centuries,” Calderon said. The film is scheduled for regular screening in cinemas nationwide. It targets to raise P2 million to purchase patrol gear and equipment and to cover the accident insurance of the rangers. Proceeds of the documentar y will go to t h e D E N R’s Ta m a r a w C ons e r v at i on Pro g r am (TCP), which seeks to address the decline in tamaraw population. Tamaraw, also called dwarf water buffalo, is the largest native land mammal in the Philippines. From 10,000 heads in the 1900s, the tamaraw population has dramatically decreased to only 480 heads as of the latest count, making it among the world’s most endangered animals. Illegal logging, poaching, over hunting, intensive farming and the establishment of ranch in the forests of Mindoro had all contributed to the depletion of the tamaraw population. DE ORO MAIN BRANCH CAGAYAN InP1982, the Tamaraw & J Lim Bldg., Tiano BrothersGene Kalambagohan Sts., Tel. #established (08822) 727-829 * under Pool was Telefax # (088) 856-1947 the program’s captive breeding CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, component. However, the 20 Camiguin Tel. # (088) 387-0491 tamaraws originally captured CORRALES BRANCH Corrales Ave., Cagayan de Oro City for the gene pool have died. DIVISORIA BRANCH Erasmo B. Damasing #61 Don A. AtAtty.present, TCPBldg., is focused Velez St., Cagayan de Oro City Tel. # (088) 857-3631 on managing wild population LAPASAN BRANCH andLapasan habitat, and thedeconduct Hi-way, Cagayan Oro City Tel. # (088) 231-6739 of information and education CARMEN BRANCH campaigns onCagayan the importance Vamenta Blvd., de Oro City Tel. # (088) 231-2011 of saving the tamaraw.
Signal... from page 6
t he e a ster n por t ion of Cagayan and Isabela, and l ig ht to moderate w it h intermittent heav y rains will prevail over Northern Aurora, Camarines Norte, and Polillo Island, likely until Friday. On Saturday, PAGASA forecast light to moderate to occasionally heavy rains over Cagayan, northern Aurora, and the eastern portion of Isabela. Light to moderate with intermittent heavy rains may also be experience over Apayao and the rest of Isabela and Aurora. S e a t r ave l i s r i s k y, especia l ly for sma l l sea crafts, over the seaboards of areas under the typhoon signal. This includes the seaboards of northern Luzon, and the eastern seaboards of Aurora and Quezon due to prevailing or forecast rough sea conditions, PAGASA said. (PNA)
Report... from page 8
most prevalent malware variants detected in Q3 2019 across all global regions. However, it is important to note that some of these detections may be fa lse positives because of the way Adblock is designed, making it difficult to produce a fully reliable signature. Malware-as-a-Service Continues to Grow New Ransomware-as-aService offerings on the dark web The GandCrab ra nsomware a nd its Ransomware-as-a-Service (RaaS) offering netted its developers as much as $2 billion before they retired last year. As a result, many cybercriminal organizations are keen to jump on the bandwagon. Last quarter, FortiGuard Labs observed t hat at least t wo ot her sig nif ica nt ra nsomwa re families – Sodinokibi and Nemty – are now available on the dark web as ransomwareas-a-service offerings. By using this RaaS model, the authors of these malware tools are significantly lowering the bar, both in terms of overhead and expertise, for launching such attacks. Emotet offers a new spin on MaaS Emotet, a popular and successful banking trojan, has launched a similar service that rents access to devices infected with the Emotet trojan. This is especially malicious because the Emotet developers have added the
ability for the malware to deliver malicious payloads. This means that attackers using this new malwareas-a-service offering can infect targeted networks with additional malware, such as the Trickbot trojan and Ryuk ransomware, launched from a previously compromised device. Another new Emotet trick significantly increases the efficiency of distributing malware through phishing. Cybercriminals naturally want to deliver phishing ema i l w it h t he h ig hest likelihood of being opened. This new Emotet phishing strategy steals email threads, not just email addresses, from infected devices. It then develops an infected reply from someone in the thread and sends it to the other thread participants disguised as being part of the thread. This strategy has proven to be exponentially more effective than trying to hook victims using a cold initial phishing attempt, or even a targeted spearphishing tactic. Older Attacks Remain a Persistent Threat It is i mpor t a nt to rememb er t hat at t ac k s don’t need to be new to be successful. According to the Q3 Threat Landscape Report, FortiGuard Labs saw more attempts to target vulnerabilities from 2007 than from 2018 and 2019 combined. And every year in between equaled 2018/19 levels. This trend shows how unpatched vulnerabilities— re ga rd le s s of a ge — c a n heighten exposure. The point is that attackers (and their tools) don’t ignore older vulnerabilities and neither should you. What You Can Do Segment your networks Many of these attacks and exploits are successful because vulnerable systems are not being adequately protected. Older vulnerabilities can be successfully protected by conducting a risk assessment and then prioritizing the l i kel i ho o d of a de v ic e being exploited using the FortiGuard Security Rating Ser v ice. In add it ion to patching and upgrading d e v ic e s , or g a n i z at ion s shou ld a lso consider implementing intent-based network segmentation and zero trust access strategies to prevent critical devices a nd v u lnerable systems f r om b e i n g e x p l oit e d . Segmentation also minimizes the risks of a successful intrusion by shrinking the available attack surface.
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
10
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019
PARTIAL LIST OF FINALISTS Outstanding Mega-Entrepreneur
Hotel Industry Leaders
Ms. Beverly Dayanan Mags Lopez Calpito Cue Jalosjos Group of Companies
QueensLand Hotel Davao Mullberry Hotel, Cagayan de Oro The Margarette Business Hotel, Valencia City
Transport & Auto Industry Leaders
Resort Industry Leaders
ISUZU Cagayan de Oro Pabama Transport Corp, Bukidnon MGM Motors Mindanao, Inc., Davao
1. Dahilayan Adventure Park, Manolo Fortich 2. Maze Park & Resort, Iligan City 3. Crystal Spring Resort, Bukidnon 4. Club Tara Resort, Surigao
Tourism Industry Leaders 7-Seas Resort, Cagayan de Oro City Seagull Resort, Davao City Fantasyland Travel & Tours, Dipolog City Outstanding Women Business Leaders MS. IRENE FLORO President, Oro Chamber, Cagayan de Oro MS. SHOLAI LIM PWDC chair of Comval & PFLCW Vice-President for Mindanao MS. JACINTZA CELLONA President of San Isidro Upper Rural Improvement Club (RIC) Women Association (SIURICWA) Lanao del Norte
Agro-Industry Leaders 1. Rural Venture Inc. (SUGRUVI) 2. Mambatangan Milling Corporation 3. Bounty Fresh Corp., Cag de Oro 4. DAVAO EXOTIC FRUIT CORPORATION Best Environmental CSR 1. STEAG State Power Inc. 2. SM Cagayan de Oro 3. CEPALCO
11
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019
Brother... from page 4
telling you about.” Paul got out and lifted the crippled, little brother on to the front seat of his new car. David climbed in beside his brother, and the three of them went on a very special and unforgettable Christmas ride. That Christmas eve, Paul finally understood what Jesus Christ meant when He said: “You’ll be much happier and more blessed when you give than receive.” Just Think a Minute…
Rules... from page 4
USD 200,000 per year in foreign securities, without having to invest via a Thai intermediary institution. Previously, they would need to meet a specified criteria in terms of asset ownership in order to invest directly. • The aggregate investment limit allocated to investors regulated by the Thai Securities and Exchange Commission (SEC) will be increased to USD 150 billion. This relaxation helps facilitate the increasing demand for foreign portfolio investment. In addition, investors will be able to retain the allocated limit for investment over a longer period, thus enhancing efficiency in investment planning and management. 3. Outward transfers • Outward transfers, which are currently allowed based on a positive list of specific purposes, will now be allowed freely except for a few specific purposes (negative list), such as for settlement of FX/THB transactions with financial institutions abroad. • Individuals who wish to relocate abroad or transfer funds to relatives abroad will be able to do so freely. While those who wish to purchase real estate abroad will be allowed to do so for up to USD 50 million per year as previously stated, the property can now be in the name of a family member. This relaxation will help facilitate migration as well as sending children to study abroad. • Documentation will no longer need to be provided to commercial banks when conducting outward transfers of less than USD 200,000. This is an increase from the USD 50,000 threshold currently in place, to reduce the burden of providing documents and facilitate the ease of conducting foreign exchange transactions. 4. Settlement of gold trading in foreign currency Thai investors will be allowed to trade gold in foreign currencies (through FCD accounts opened with onshore commercial banks) with designated gold trading companies that have received approval from the BOT. Previously, such transactions could only be done in baht. This is to reduce the pressure on the Thai baht from goldrelated transactions. Investors will be able to keep foreign currency proceeds from gold investment in their FCD
accounts, without having to exchange into baht for subsequent purchases. This relaxation will increase investment options for investors and will be aligned with the more relaxed foreign investment regulations. In addition, the BOT is also prepared to approve gold futures trading in foreign currencies in the next phase.
Devices... from page 4
give to each technicality involved in our work. Our work, whatever it is, should somehow be a form of prayer since we use it to relate ourselves to God. We really would have to pause and study things before we can make an appropriate plan or strategy to actualize this ideal of using human devices in our work. Whether our work is easy or hard, is completed or not, is something routine or involves something new and unfamiliar, we should know how to relate it to God or we should somehow see God in it. In this way, the stress and tiredness that our work usually causes would not take us away from God but would rather strengthen our union with him, since it is in him that we can find our true rest. (cfr. Mt 11, 28)
Looking...
from page 4 and circulation of the New Generation Currency. As my own personal contribution to BSPs advocacy of financial inclusion – through financial literacy and education – I wrote “Central Banking for Every Juan and Maria”. In that book, I explained to the laymen how actions and policies of the Bangko Sentral can and do affect their everyday lives. “ To me, t he aut hor succeeds in presenting the truth about the BSP, that it is accessible, customerfriendly and responsive to the concerns of the man on the the streets or every Juan and Maria,” Governor Tetangco wrote. “Very colorful, informative and readable…. This is really central banking at grassroots. Ever y educated Filipino should read your book,” said former Monetary Board Member Vince Valdepeñas. The public reception to the book came to me as a pleasant surprise. Its first print sold out just two months after its launch. I also had the chance to actively support the advocacy of young BSP mothers, like Claire Mogol and Jennifer Joy Ong, who initiated a BSP-wide campaign to raise awareness on the importance of breastfeeding. Their efforts led to the establishment of lactation rooms cum “milk banks” at the BSP. During my stint at the Monetary Board , some of the important policies and guidelines were promulgated, as follows: 1. Guidelines on the regulation of derivatives 2. Guidelines governing the issuance of electronic
money 3. Guidelines regarding the Internal Capital Adequacy Assessment Process (ICAAP) 4. Definition of Trust Corporations, and 5. Guidelines strengthening Corporate Governance among BSPsupervised financial institutions. (to be concluded next week) Note: Please feel free to share the foregoing via Facebook, Twitter or LinkedIn.
Utilities... from page 1
complete all the requirements, particularly the prudential deposit. The size of the prudential deposit will depend on consumption for DUs and capacity for generators, along with the projected volume that will be drawn and sold in the market. There are 28 electric c o op e r at i v e s a n d f ou r privately-owned distribution utilities in the southern islands, based on government data. IEMOP is also awaiting approval from the Energy Regulatory Commission for its pricing cap mechanism, Mr. Louis said during a round table discussion Tuesday. The seven major generating companies, including the gover nment-r un Power Sector Assets and Liabilities Management (PSALM) that operates the Agus and Pulangi hydropowerplants, have completed their applications, he added. Philippine Electricity Market Corp. (PEMC) Chief Governance Officer Rauf A. Tan, meanwhile, said the system has been undergoing test runs over the last two years and the company is confident that it is ready for commercial operations. “(The p ercent age of participation in the trial operations) is a little bit low; nonetheless, that percentage of participation is not a major factor because it is supposed to just test the system if it works,” Mr. Tan said. The PEMC, the former market operator which now functions as the WESM governance and regulatory body, and IEMOP have been doing road shows in Mindanao, which include practice sessions to help WESM participants familiarize themselves with the wholesale market process. Robinson P. Descanzo, IEMOP chief operating
officer and trading head, said one of the main benefits of the WESM is that DUs that have contracted supply that exceeds their requirements will have a mechanism to resell their surplus. Mindanao currently has a capacity of about 3,300 megawatts (MW) and an average requirement of about 2,300 MW, leaving an excess supply that will be available at WESM. The P52-billion Mindanao-Visayas grid connector project is also targeted for completion by 2020, which would give Mindanao suppliers access to the nationwide system.
Building...
from page 1 to provide stricter regulations and standards. DCCCII President Arturo Milan said during Wednesday’s Habi at Kape that it is high time to amend the law, enacted on February 19,1976 during the term of late President Ferdinand Marc o s Sr. , to c omp el developers and residential owners to conform to the buildings standards. He said there should be a new set of standards on structural design and construction methodology, particularly in the construction of houses, as most of those who lost their homes due to the powerful earthquakes last month had their homes built without proper standards. “There is a need to amend and review the Building Code to set standards on the structural design and construction methodology because most of those that went into, mata mata lang (estimation only), these were those whose were destroyed,” he added. Milan said he saw several houses destroyed in Makilala, North Cotabato during a relief operation of the DCCCII. “I saw a house in Makilala natunga iyang balay — ang banda sa kusina og sa sala natunga (I saw a house in Makilala that was torn in half – that part of the kitchen and the other half the living room),” he added. As of Tuesday, Milan said the Asia Pacific Alliance for Disaster Management P h i l i p p i n e s ( A PA D Philippines), a transnational aid alliance, recorded a total of 42,196 families or 260,286 individuals, 22,678 houses totally damaged, and 13,082 houses partially damaged in
Republic of the Philippines Region X Province of Lanao del Norte Municipality of Kapatagan R.A. 9048 (CFN)
earthquake-affected areas in Mindanao. He said members of the local chapter of the Philippine Institute of Civil Engineers are conducting an inspection on all structures in Davao City. “I would like to talk to them if they can move further to really propose, amendments to the Building Code so that reinforces what Senator Bong Go would like to push in Congress,” he added. Japheth Diones, Vice President for Internal Affairs of the Chamber of Real Estate and Builders Associations Inc. (CREBA) Davao, said many of the prospective condominium unit buyers backed out from the transactions as they now fear living in condominiums after a five-story condo tower of Ecoland Residences 4000 of the property developer DMCUrban Property Developers Inc. (DMC-UPDI) collapsed due to the magnitude 6.5 earthquake last October 31. Four powerful quakes above Magnitude 6 have struck parts of Mindanao between October 15 and 31; 6.3 on October 16, 6.6 and 6.1 on October 29 and 6.5 on October 31. “Yong ibang buyer ko (Some of my buyers) they diverted into traditional dwellings like living in a house while others are adopting a wait and see attitude kung babalik pa ba ang lindol (if these earthquakes would recur),” he added.
Budayaw... from page 1
treasures in the 2nd Budayaw n e x t w e e k ,” N a t i o n a l Commission of Culture and the Arts (NCCA) focal person Adelina Suemith said in a statement. Suemith said Mindanao is sending a delegation of 73 cultural masters, artists, workers, and tourism enthusiasts from different regions lead by NCCA. They will be participating in 12 components of the festival: weaving, traditional music, performing arts, choral singing, photography exhibit, visual arts, education forum, culinary arts, tourism expo, fashion show, crafts exhibit, and community outreach. Meanwhile, delegation head of Secretariat Alma
Dumalag of Mindanao State University–Kabpapagariya Ensemble and Kalimudan Culture and Arts Center said: "We are happy that through the Budayaw, we will be able to bring the colorful culture of all Mindanaoans in Malaysia." "We hosted the first Budayaw Festital last September 2017 in General Santos City, which was attended by more than 500 artists from the BIMPEAGA,” Dumalag added. Mindanao Development Authority (MinDA), as the Philippine Coordinating Office for BIMP-EAGA, has expressed support for the participation of the delegate from the island. MinDA S ecretar y Emmanuel Piñol said as the Coordinating Office for BIMP-EAGA, they helped the members of the delegation in securing Foreign Travel Authority (FTA) for the participating Davao and Iligan teachers and the regular coordination with the BIMPEAGA National Secretariat of Malaysia. Piñol said it was "important to sustain sociocultural activities like this in the sub-region because this is one way of making us realize that we are just one family with shared culture, traditions, and practices.” Department of Tourism (DOT) Assistant Secretary for Mindanao Myra Paz Abubakar said: "We are privileged that we are given an avenue to promote and market our tourism destinations through this festival." The delegation is expected to leave for Malaysia on November 18. O t h e r p a r t i c ip at i n g member-countries are Brunei Darussalam, and Indonesia, with Malaysia serving as the host country. The 3rd Budayaw Festival will be hosted by Brunei Darussalam in 2022 as a major side event of their hosting the Asean Leaders Summit. (PNA)
ALLAN'S LECHON
Office of the Municipal Civil Registrar NOTICE FOR PUBLICATION
In Compliance with section 7 of R.A. 9048, a notice is hereby served to the public that LUZ LITERATUS PANIS-RETIZA has filed with this Office, a Migrant Petition for Change of First Name from "MARIA LUZ" to "LUZ" in the Certificate of Live Birth of MARIA LUZ LITERATUS PANIS who was born on JUNE 13, 1962 at LOON, BOHOL and whose parents are ALFREDO LUCHANA PANIS and PETRA SORIA LITERATUS. Any person adversely affected by said petition may file his written opposition with this Office not later than 15 days. BWM: November 18 & 25, 2019
(SGD) IVY REYES TONGCO Municipal Civil Registrar
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
12
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 18, 2019