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Thursday - November 21, 2013

BusinessWeek MINDANAO



Market Indicators

As of 6:27 pm NOV. 20, 2013 (Wednesday)



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112.51 points

Tourism spill over


BUTUAN Cit y -- The recently concluded 2013 Mindanao Cluster Science and Technology (S&T) Fair 2013 hosted by the Department of Science and Technology (DOST) Caraga serves as an avenue for local inventors and innovators from across Mindanao to exhibit their ingenuity and technological discoveries. DOST Secretary Mario G. Montejo said that “the use of S & T is always a sound development model for the improvement of the individual and society in terms of improved processes, products and services.” He expressed his trust in local technology which affirms the creativity of Filipinos particularly the Philippine scientific community. “It prepares the country for global competitiveness. Smarter Philippines program in farming; disaster mitigation; health care; small, micro and medium businesses; and industries will boost the growth of our economy,” said Montejo.

FREE TV CH. 21 SkyCable Ch. 16 | Global Destiny Ch. 28 Cablelink Ch. 14 | Cignal Ch. 10


Bill authorizing P14.5-B budget filed in Senate Page B1


s a number of infrastructure have sustained serious damage following the onslaught of typhoon ‘Yolanda’, Senate President Franklin Drilon pushed for the passage of a bill that will source the P14.5 billion from unspent pork barrel for its repair.

DAVAO Cit y – Even the local tourism industry is seen to feel the adverse effects of typhoon Yo l a n d a w h i c h d e v a s t a t e d Visayas. Ci t y To ur i s m O p e r at i o n s Office chief Lisette Marquez said there is a big probability that business events and conventions would be shelved as corporations would donate these expenses to relief efforts. T h ey a l s o ex p e c t l e s s e r travels as people would also donate to the relief efforts rather than going on vacation. Marques said that it would take a month to determine if visitor arrivals have been affected by the typhoon. As for foreign visitor arrivals, Marques said that it would depend on how the country is portrayed by the media. “National disasters are one of the main reasons why people would not travel to a locality.” Marques added.

Science fair

12:30 PM - 1:00 PM

A volunteer packs bottled water at GSIS Heights Gym in Davao City on November 19, 203. The relief goods will be sent to the victims of Typhoon Yolanda in the Visayas region. mindanews photo by toto lozano

Growth in Davao’s sources of income seen in 2014

DAVAO City -- All of Davao City’s sources of income are estimated to rise by 2014, leading the local government to propose to the City Council a bigger annual budget of P 5,165,430,052. The local taxes, which serve as the lifeline of the city government, are estimated to grow by 22 percent

Pork barrel has been declared by the Supreme Court as unconstitutional, which the Senate took as a cue for the possibility of a supplemental budget. “The damage caused by recent calamities requires i nt e n s i f i e d e f for t s for rehabilitation, repair and construction of severely damaged infrastructure, buildings and facilities in order to accelerate recovery,” Drilon said in a statement. “Our people urgently need the augmented support

of t he gover n ment for rehabilitation,” the senate leader added. D r i lon’s S enate Bi l l No. 1938 aims to pass a supplemental budget to cover the costs of unpredicted expenses brought about by back-to-back natural and man-made disasters that hit the country. If enacted into law, an additiona l P14.5 billion for 2013 will be authorized and provide funds to repair various infrastructures, filed/PAGE B7

from the current P1,457,300,000 to P 1,782,300,000 in 2014, the City Council finance committee chairman, Councilor Danilo Dayanghirang said. Local taxes include business tax, amusement ta x, professiona l ta x, community tax, property transfer income/PAGE B7

Yolanda leaves PH with $110M damage in crops

The typhoon that hit the Philippines has caused crop losses worth $110 million and inf licted damage to the agriculture sector of more than twice that figure, preliminary estimates from the United Nation’s food agency showed on Tuesday (Wednesday, PHL time).

Some 153,495 hectares (has.) of rice paddy, maize and other high value crops such as coconut, banana, cassava, mango and vegetables have been hit by Typhoon Yolanda (Haiyan), which killed at least 3,900 people when it damage/PAGE B7

MUTE WITNESS TO TRAGEDY. A religious statue on top of the mountain in Tolosa town in Leyte remains intact after super typhoon Yolanda ripped through communities in Leyte and Samar on Nov. 8. All trees and houses below this mountain were devastated. photo by roel n . catoto

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Editor : Cheng Ordoñez , e-mail-

P2-B for rehab of ‘Yolanda -affected transmission, distribution lines: DoE

MANILA -- The Department of Energy (DOE) is looking at P1.9 billion as rehabilitation cost for transmission and distribution lines in areas b a d l y h it by Ty pho on “Yolanda.” Of the total, some P1.1 billion w ill be used for transmission lines and P800 billion for distribution lines, said Energy Secretary Carlos Jericho Petilla in a briefing Wednesday. The DOE chief said he is confident that rehabilitation cost for the transmission side will be augmented by insurance. He, however, said this is not t he case for t he distribution side because the electric cooperatives nor m a l l y do not h ave insurance. Thus, this situation has the possibility to further increase current liabilities of the electric cooperatives. Pe t i l l a a s s u r e d t h e public that rehabilitation of tra nsmission lines continues since the National Grid Corporation of the Philippines (NGCP) did not wait for the approval of the Energy Regulatory

Commission (ERC) for this. H e said the Nationa l Electrif ication Administration (NEA), in turn, has extended loans to Leyte electric cooperatives amounting to about P150 million as well as about P150 million to cooperatives in Iloilo. “As much as possible we want a zero percent pass on to consumers of these rehabilitation cost,” he said. Petilla explained that the Energy Department wants to tap the Malampaya fund to finance the rehabilitation of these facilities. However, the Supreme Court (SC) ruled on Tuesday against the use of government share in the proceeds of the oil project at off-shore Palawan if not for the development, exploration, exploitation of energy resources. The Energy chief said DOE is in talks with the Chief Presidential Legal Adviser on how to tap the fund since the project is energy-related anyway. What he is firm to resolve now is the restoration of all transmission lines by rehab/PAGE B7


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‘Oplan Open Store’ launched for typhoon-affected areas MANILA – The Department of Trade and Industry (DTI) has launched ‘Oplan Open Store’ that will serve as locators for consumers in areas hard-hit by typhoon ‘Yolanda’ to find operating business establishments in the areas. Consumers in affected a re a s m ay v i s it w w w. ph to view the list of open establishments. DTI Secretary Gregory Domingo also disclosed

that the ‘Oplan Open Store’ will not only benefit the typhoon victims but also organizations doing relief operations in areas where they can access relief supplies from establishments.

Domingo added t hat this will fast-track relief op er at ion s i n a f fe c t e d provinces since supplies will come from nearby areas. “Because of the challenging road to recovery ahead in typhoon-stricken regions, each re-opened store shows one step towards rehabilitation. The Oplan Open Stores Website serves as a guide for the public, the

media covering the area and relief effort groups that are in need of supplies,” he told. According to the department, 110 business establishments resumed their operations since Tuesday after being hit by typhoon ‘Yolanda. These establishments include public markets, grocery stores, drug stores, store/PAGE B7

Ayala Land fully acquires Palawan resort MANILA -- Property giant Ayala Land Inc. (ALI) will fully acquire the El Nido resort in Palawan. In a disclosure to the Philippine Stock Exchange

(PSE), ALI said its whollyowned subsidiary, Ayalaland Hotels and Resorts Corp., sig ned a n ag reement with Asian Conservation Company (ACC) to buy the

latter’s 40-percent stake in the resort. The proper t y f irm said such acquisition will effectively make the resort its wholly-owned.

“This will solidify ALI’s presence in the resort and leisure development market and help boost the country’s tourism industry,” it noted. ayala/PAGE B7

‘Diskwento Caravan’ set in Tacloban Friday

MANILA -- The Department of Trade and Industry (DTI) will be bringing “Diskwento Caravan” in Tacloban City on Friday. Diskwento Caravan is a flagship project of DTI which offers lower prices of basic goods compared to retail markets. Accord ing to DTI, products to be offered in the caravan will include bottled water, canned goods, coffee, milk, noodles, rice,

biscuits, bread, condiments and personal care products. Participating companies are Gardenia, Nestlé, Century Canning, Unilever, San Miguel Pure Foods Co. Inc., Dranix, and Alturas Group of Companies. Prior to Tacloban City, DTI has held Diskwento Caravan in cities of Samar and Leyte which are hardly affected by typhoon “Yolanda,” including Ormoc, Maasin, Baybay and Calabayog. (PNA)

Universal Harvester, Inc. (UHI) Executive Vice President Dra. Milagros O. How (center, left photo) hands over to Camsur Multi-Purpose Cooperative Board of Director vice-chairperson Anabelle D. Tuy (left photo) her AgriCooperative Award while UHI President William How looks on and greats Mindoro Progressive Multi-Purpose Cooperative founder and general manager Sofia G. Fabillar (right photo) after receiving her award during the search and award for The Outstanding Farmers (TOFARM) in the Philippines Friday night (November 15) held at the Rizal Ballroom ABC at Shangri-La Manila Hotel, Makati City. The main goal of TOFARM is to recognize the agricultural sector and their contributions to the entire Filipino nation by bringing food to every table. This year added the new category of Woman Farmer in recognition of women who played leadership roles in the farming sector and have made huge contributions by themselves in the fight to achieve sustainability and food sufficiency. (PNA photos by Joey Razon)

Over 10 companies seen to hold IPOs in 2014 MANILA -- More t ha n 10 compa n ies a re expected to debut in the equities market next year, encouraged by the country’s s t rong m ac ro e c onom ic fundamentals. “There are a lot of interests. A lot more will continue follow-on offerings... I hope we can match this year’s (number of initial public offerings) or exceeded that (in 2014),” Philippine Stock Exchange (PSE) President Hans Sicat told reporters on Wednesday. Sicat said consumer and infrastructure-related sectors continue to attract industry interests. He believes that improved market liquidity and more funds flowing out the special deposit accounts (SDA) are boosting the equities market. Sicat said the average daily value has reached P10.5

billion, 50 percent higher than in November last year which only reached P7 billion to P8 billion per day. “When you have relatively calm markets, I think people will look to fundamentals. Our fundamentals continue to be very strong in Southeast Asia,” he noted. So far in 2013, seven companies have a lready launched their share sales. These are Robinsons Retail Holdings Inc., Travellers International Hotel Group Inc., Harbour Star Shipping Services, AG Finance Inc., Del Monte Pacific Ltd., Asia United Bank, and Philippine Business Bank. Three more firms are also slated for IPO debut before the end of the year, including Discovery World Corp., Concepcion Industrial Corp., and Frontier Oil Corp. companies/PAGE B7

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Makina Saka to boost global competitiveness of agri sector “Kailangan natin magtulungan at magkaisa sa ikauunlad ng agriculture sector at ng mga industriyang kaakibat nito at syempre ng ating bansa,” said Senator Cynthia A. Villar (top right) as she urged all the agristakeholders who attended the 2013 Mindanao-wide Makina Saka or Agri-Machinery Road Show held in Cagayan de Oro City to continue pouring their efforts in attaining food security and sufficiency in the country and in improving the lives of the farmers, fisherfolks and agri-entrepreneurs. Senator Villar, Chair of the Senate Committee on Agriculture and Food also reiterated the relevance of mechanized agriculture, and research and development to enhance the global competitiveness of the agriculture sector in preparation of the country’s impending integration with the ASEAN Economic Community in 2015. Makina Saka is a showcase of the latest agricultural machinery and equipment available in the market which helps minimize labor cost and reduce production and postharvest losses. Moreover, DA Secretary Proceso J. Alcala (top left) hoped that through Makina Saka, the agency’s target to boost the farm mechanization capacity in the country from 2.5 hp/hectare to 3-3.5 hp/ hectare can be achieved. T he a g r i-mach i ner y exposition is a collaborative effort of the Department of Agriculture-Regional Field Office 10 (DA-RFO 10), the Philippine Center for Postharvest Development and Mechanization (PhilMech), the Bureau of Soils and Water M a n a gement (B S W M), t he Nationa l Irrigation Administration (NIA) and the Agricultural Machinery Manufacturers and Distributors Association Foundation, Inc. (AMMDA).

Farmer-participants also learned the latest technology in rice production from land preparation, production and post production as presented by a pool of experts from the PhilMech and followed by

technology demonstration held at Brgy. Malanang, Opol, Misamis Oriental (bottom photo). Also present during the event were (middle photo, from left) Engr. Roxana H. Hojas, DA-10 Regional Technical

Fishermen adrift after Typhoon Yolanda takes livelihood BAYBAY, Leyte – A crucifix crudely fashioned from brok en t w i gs m a rk s a shallow grave on the beach in Baybay, a once-lively Philippines fishing village where generations saw the sea as a source of bounty until it cruelly turned against them. “I have never been afraid of the sea but the day Yolanda came, I cried,” said Cesar Magdua. Driven ashore by Super Typhoon Haiyan – known locally as Yolanda – the ocean engulfed the villagers’ homes and took their livelihoods with it. The 54-year-old is a devout Catholic with a leathery face and a deep brown tan whose father taught him to fish as a young boy. “There was no time to secure all our boats and take them inland, and the waves came crashing so fast, taking everything away,” he said, pointing to a coconut tree whose top was snapped by the force of the water. “The saying is true, the sea takes what it gives.”

Haiyan’s furious winds stirred 20-foot high waves t hat r u shed i n la nd on November 8, destroying almost everything before them, including 1,500 homes in the tightly-knit community along with all their nets and boats. Magdua could not say how many had been killed in their village. Days after the storm, bodies were still being recovered all over the area. Around 4,000 people are known to have died nationally, according to official figures, but Magdua believes “many, many more” could be dead. “I have not seen many of my friends. If you get caught in waves that high, you die,” the father-of-eight said. Magdua sa id he had evacuated his family to a friend’s two-story home a kilometer from the shore. He was securing his seafront shack with ropes and sand bags when the first wave came.

He clung on to a rope and buoy, and tumbled through the water until he washed up somewhere. “But the problem now is, how do we survive? We cannot rely on dole outs forever,” he said, as he and other fishermen inspected the destroyed village council building. Just down the narrow path, village councilor Nonelon Wenceslao led some of the menfolk in slaughtering a pig they had found, attracting a small crowd who all wanted some of the meat. A tattered Philippine flag fluttered in the wind, behind a big wooden board on which someone had daubed: “Help. We need food, water.” Chi ldren waved at a passing military helicopter carrying relief goods, while others played on a pile of broken cement flooring that was once a popular local seafood restaurant with the now-sardonic name of Yolanda’s Eatery. adrift/PAGE B6

Director for Operations; CDO Mayor Oscar S. Moreno; DA-10 Regional Executive Director Lealyn A. Ramos and PhilMech Director Rex L. Bingabing.# (VANESSA MAE S. SIANO, DA-RAFID 10)

One-third of country’s rice crop wiped by Yolanda Typhoon Yolanda (Haiyan) wiped out one-third of the Philippines’ rice-growing areas, the UN food agency said Tuesday, calling for “urgent assistance” to farmers who need to sow new seeds. “Regions most severely affected by the ty phoon account for one-third of the total rice production in the country,” the UN Food and Agriculture Organization said in a statement. “Hundreds of thousands of farmers in the Philippines whose crops were destroyed by Typhoon Haiyan need urgent assistance to sow new seeds before the end of the current planting season,” it said. The main-season harvest of the staple grain was well under way in the central Philippines when the typhoon wiped/PAGE B6

Mindanao Daily B3 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper


B4 Mindanao Daily NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Editor : Shaun Uy , e-mail-

thursday | November 21, 2013 Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

Benefit Show for Ayuda Zamboanga:

Special Advance Screening of ILO ILO 8PM tonight at SM Cinema 2


Photo screen grabbed from

l Circulo Zamboangueño de Cagayan de Oro’s special advance screening for the award-winning movie ILO ILO is set for tonight Thursday, 21 November 2013 at 8PM, SM Cagayan de Oro Cinema 2. For a minimum donation of P250, the donor gets a free movie pass to the special screening for the movie which will begin its commercial run in Philippine cinemas on December 4. Proceeds of the benefit show will go towards the rebuilding of Zamboanga City. The special advance screening will be graced by Angeli Bayani, the Filipina indie actress who plays

“Auntie Terry” the beloved Filipina nanny in the movie on whose experience it was based, and Charles Lim, the Singaporean PR consultant based in Cebu who was responsible for reuniting her with her 3 wards 16 years later following the successful run of ILO ILO in various film festivals abroad where it has so far garnered 11 awards, including the “Camera d’Or” at the prestigious Cannes film festival in France. Tickets for this special advance screening are available at the SM Global Pinoy Center at the 3rd floor of SM Cagayan de Oro City, La Ilongga Lapaz Batchoy across city hall and BusinessWeek

Aunty Terry with the ILO ILO cast & crew

Mindanao office at Tanleh Building, F. Abellanosa St. near UCCP City Church. For further inquiries please contact mobile numbers 0926-9511777/0917-714-8484/0908-817-9588 or land lines 857-8447 or 74-53-80. Invite your family and friends to help rebuild Zamboanga City by seeing this award winning movie 8PM tonight at SM Cinema 2. The special advance screening of ILO ILO in SM Cinema 2 Cagayan de Oro is brought to you by Pioneer Life Inc., SM City Cagayan de Oro, the National Grid Corporation of the Philippines, La Ilongga Lapaz Batchoy and A Brown Company Inc.

Photo screen grabbed from

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Mindanao Daily B5 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Editor : Shaun Uy , e-mail-

Globe Bangon Pinoy provides Libreng Tawag, Internet in Villamor Airbase, Mactan airport for evacuees


lobe Telecom opens Libreng Tawag and Libreng Inter net services in Villamor Airbase in Pasay City and also sets up a Libreng Tawag booth i n Ma ct a n I nt e r n at ion al Airport in Cebu for use of Tacloban City residents who are escaping the devastation caused by Typhoon Yolanda. The Globe Bangon Pinoy (# Ba ngon Pi noy) sup p or t services are on standby to assist passengers who need to get in touch with their friends and relatives upon arrival at the airport. G lo b e a l s o p r ov i d e d Libreng Internet via MyFi to Red Cross in San Jose, Antique to allow Red Cross to respond to online inquiries as to the whereabouts of residents in Culasi, Antique. Since November 9, right after the onslaught, Globe already started offering free calls and texts to typhoon victims. To date, Globe has put up 15 Libreng Tawag centers, 36 Libreng Charging stations, eight Libreng Tawag

Various relief operations of Globe Bangon Pinoy for typhoon Yolanda victims. Clockwise from left to right: Libreng Tawag in Villamor A i r b a se, Pa say Ci t y; Li b r en g Charging in Antique; and relief operations in Manapla, Negros Occidental.

and Libreng Charging booths, a n d 2 Li b r e ng I nt e r n e t services in affected areas in Romblon, Iloilo, Antique, Leyte, Bohol, Aklan, Capiz, and Cebu.

Globe Bangon Pinoy also continues to call for donation to Red Cross, which may be done via Mobile GCash APP or by dialing *143#> GCash > Others > Donate > Amount >

MPIN > Red Cross. Overseas Filipino Workers who want to help may also visit any GCash Remit partner outlet in the country where they are staying to send their donation.

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B6 Mindanao Daily NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

thursday | November 21, 2013 Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

Adrift... from page B3

Wenceslao said he and other officials had yet to fully account for the village’s 1,500 families in the chaos of the storm’s aftermath. Only a few bodies had been found on the beach, he said, although many were seen carried away by the high water. Few believe the missing are alive. “We were not rich, but we were happy and had everything,” Wenceslao sad. “Now, nothing is left. Our boats are gone. How can we start rebuilding when we don’t have the means to survive?” Fishing has for generations been the backbone of the community, and an average fisherman earns between P500 and P800 ($12-$20) a day – not a lot, but enough to eke out a living. City folk and tourists who visit the area brought other income, he said. “We are appealing to the government for help. Please help us build boats,” Wenceslao said, adding that the few fishermen who have savings cannot get at their money because the banks are closed. Ma r joh n Mugas, 23, however, cannot wait for help. Aid was slow arriving and his wife and two children have had nothing much to eat in the week since Haiyan destroyed their home. Mugas gathered up his broken nets and dragged them through some shallow water, catching a milk fish and small snails. “This fresh water fish is most likely from fish ponds that were destroyed during the storm. This is good for today,” he said, smiling. “Tomorrow is another day.” – Agence France-Presse/GMA News

THE BEST CHOICE Wiped... page B3 FOR ADVERTISING from hit, also “badly disrupting”

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ongoing planting for the secondary season, the FAO said. The Rome-based agency added: “There is concern that many storage facilities may have been destroyed, along with their contents.” Dominique Burgeon, head of FAO’s Emergency and Rehabilitation Division, said in the statement: “If we want to avoid entire regions of the country having to rely on food aid, we need to act now to help vulnerable families to plant or replant by late December.” The agency plans to supply seeds for rice and maize as well as tools, fertilizer and irrigation equipment, it said. “Families will also receive vegetable seeds to help bridge the gap before the next harvest,” it added. Some 13 million people were affected by Yolanda, one of the most powerful typhoons ever recorded, which struck the Philippine archipelago on November 8, claiming at least 4,000 lives. An estimated 2.5 million are in need of food aid. —Agence France-Presse/GMA News

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including P4 billion for school buildings, heavily damaged by recent calamities particularly ‘Yolanda’. Allocations for agencies In the proposed budget, Department of Education and state universities and colleges will receive P2.75 billion and P1.25 billion respectively, for the repair and rehabilitation of school and academic buildings, Drilon said. The Department of Public Works and Highways will be provided with P3 billion to repair roads, bridges a nd ot he r gover n ment infrastructure, he noted. A not her P1.5 bi l lion will a lso be allotted for the restoration of declared historical sites which were damaged specifically by the 7.2 magnitude earthquake in the Visayas region. Expenses for the repair of hospitals amounting to P1 billion and purchase of ho s pit a l e qu ipme nt amounting to P500 million will also be allotted through the Department of Health. A total of P1.5 billion will be given to the National Housing Authority for its purchase of relocation sites and construction of housing units. The Department of Tr a n s p or t at ion a nd Communications will receive P1 billion to repair airports and ports and P1 billion to the local government units to repair rural health centers and fund other rehabilitation programs. Needs immediate passage Drilon explained that t he Congress should expedite the passage of the bill as the current General Appropriations Act will expire by December 31 or else the budget may no longer be used. He stressed that given the urgency of providing funds to the rehabilitation or reconstruction efforts, t he Senate c a n a l ready start consultations on the proposed supplement a l budget. At the same time, the Senate will wait for the certification of the national treasurer as to the availability of funds and for the House to pass and transmit to the Senate its version of the measure, he added. “The House needs to pass it first because it is a corresponding measure f i led in t he senate,” he added. “It will be tackled if the House version comes and with certification of National Treasurer as to the availability of funds.” Drilon said it will be most favorable if the House version of the bill will be filed by the end of November; he is also optimistic that if all goes as planned, it will be passed by the first week of December. “We will suspend the debates on the 2014 budget if the House will pass a version on the supplemental budget,” he noted. (Azer N. Parrocha/ PNA)

tax, real property tax, tax on delivery trucks and vans, tax on sand, gravel, and other quarry products, and fines and penalties. The proposed 2014 Annual Budget reflects the growth of local tax collections from 2010 to 2011 at 18 percent and from 2011 to 2012 at 11 percent. In 2012 to 2013, local taxes, however, remained dormant without any increase nor decrease at all. Growth rebounded in 2013 to 2014 at an estimated 22 percent. Another source of income of the city government, which is service income, is estimated to grow by 3 percent in 2014 from the current year. Service income is expected to reach P136,618,000 by end-2013 and P150,740,000 in 2014. Service income refers to revenues collected from clearance and certification fees, mayor’s clearance, tax clearance, police clearance, certification fees, and garbage fees. It steadily grew by 15 percent from 2010 to 2011, 8 percent from 2011 to 2012, 13 percent from 2012 to 2013, and only 3 percent from 2013 to 2014. Permits a nd licenses income of the city is also estimated to grow 18 percent from P133,905,200 this year to P158,545,000 in 2014. This source of income covers fees on weights and measures, franchising and licensing fees, permit fees, signage, sign, support fees, building per mit fees, occupa nc y permit fees, electrical permit fees, plumbing permit fees, excavation fees, mechanical fees, and material testing fees. A lso, t he Interna l Revenue Allotment (IRA) of the city is estimated to increase to P2,932,695,052 in 2014 from the current y e a r ’s P 2 , 62 6 , 74 4 , 2 70 , Dayanghirang said. The estimated increases in the sources of income by next year were made as basis for the proposed 2014 Annual Budget. The P5.1-billion proposed budget primarily covers the P4,147,933,539 general fund proper, P913,671,698 for de velopment f u nd , and economic enterprise allocation for operations as follows: markets, P61,308,047; slaughterhouse, P15,000; Davao Cit y O verla nd Transport Terminal, P20,000; Sta. Ana Port, P2,529,568; cemeteries, P2,500,000; and Magsaysay Park, P337,000. The three basic development programs under the development fund are infrastructure, social, and economic. (PNA)

from page B1

from page B1

Damage... from page B1

struck on November 8. “H ig h w i nd s , he av y rains and localized f loods dest royed houses a nd infrastructure, including irrigation facilities, and resulted in losses of the main staple rice paddy, sugarcane and coconut crops, as well as livestock, poultry and

northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

f isheries,” the Food and Agriculture Organisation (FAO) said in a statement. The forecast for damaged areas included some 77,476 has. of rice crops and 20,951 ha of maize crops, it added. The FAO also said that imports of rice are expected to increase by 20 percent next year to 1.2 million tons. Earlier on Tuesday the Philippines’ National Food Authority (NFA) said it will import up to 500,000 tons of rice from its neighboring countries, possibly before the end of the year, as it replenishes stocks that have been depleted by the ongoing typhoon relief efforts. Because of Yolanda and a not her t y phoon which hit northern parts of the Philippines in October, the FAO cut its 2013 aggregate rice paddy output forecast – including the main 2013 season a nd t he 2013/14 secondary season – to 18 million tons from previous estimates of a bumper crop of 18.9 million tons. “At the revised level, the 2013 paddy output would be slightly lower than that of 2012,” it said. The final output w i l l de p end on t i mely rehabilitation and provision of seeds and fertilizers to allow farmers to replant before the end of the sowing period, the FAO said, calling for $24 million for immediate action targeting 250,000 households. Philippine authorities a nd i nter nat iona l a id agencies face a mounting humanitarian crisis, with the number of people displaced by the catastrophe estimated at 4 million. – Reuters

Rehab... from page B2

December 24, 2013. Relatively, Petilla said distribution of the small power generator sets to areas badly affected by “Yolanda” just started Wednesday instead of Friday last week after loading

of these to the C130 planes were bumped off in lieu of transportation of relief goods. The DOE earlier said it will deploy a total of 164 mostly 1-3kVa generator sets as power remains down particularly in Leyte. Petilla said 60 of the generators will be deployed to Leyte and 45 in Samar while bigger capacity generators will be sent to a Leyte hospital and a water utility service. The other areas where the generators will be deployed are Iloilo, 10; Masbate, four; Coron, Palawan, five; and Bantayan, Cebu, eight. T he generators were sourced from the DOE office in Bulacan. (PNA)

Store... from page B2

gas stations, malls, hardware stores, and water refilling stations particularly in areas of Tacloban, Ormoc, Palo, Maasin, Baybay, Catbalogan, Calbayog, Borongan, and Catarman. DTI also assured the public for regular monitoring in order to update stores resume business after the onslaught of the calamity. (PNA)

Ayala... from page B2

Spacious Rooms Approx. 4m x 5.5m

• Fully Airconditioned • Cable Ready • 21” LCD/24” LED TV • Personal Refrigerator • Hot & Cold Shower • Kitchenette • Intercom • Cabinets/Closets • Free wifi internet • Business Center with Terlephone, Computer & Fax Machine Open for Short Term & Long Term Lease For Reservations Contact Us: 09351842333 •

ALI said it intends to take El Nido Resorts to its next stage of sustainable de velopment , g iven it s proven t rack record of building world-class real estate projects and strong corporate philosophy on sustainability. “ T he t r a n s a c t ion i s expected to close before yearend 2013,” it said. (PNA)

Companies... from page B2

Sicat believes that more IPO listings can benefit the stock market. “I think it is good because there is more supply. We are not having a problem that there is less supply,” he said. (PNA)

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

CDO 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

B8 Mindanao Daily NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Editor : Cheng Ordoñez, E-mail:


Tune Hotels Cagayan de Oro Manager Sansehry Binay-an delos Santos distributes the food packs to the pupils of Canitoan Elementary School during Tune Hotels CDO’s CSR activity dubbed as “We Care for Children”, November 20, 2013. Photo by Shaun Uy

thursday | November 21, 2013 Advertising and Editorial E-mail : Contact nos. : 0917-7121424 • 0947-8935776

A Tune Hotels CDO staff hosts the games for the pupils of Canitoan Elementary School during Tune Hotels CDO’s CSR activity dubbed as “We Care for Children”, November 20. Photo by Shaun Uy

Tune Hotels Cagayan de Oro Manager Sansehry Binay-an delos Santos (2nd from right) with her hotel staff and media partners from the BWM Group of Publications, Publisher Dante Sudaria (center), Lavie Casenas, Grace Beber Canitoan and MDN Lifestyle Editor Shaun Uy pose for a photo op in the Canitoan Elementary School grounds during Tune Hotels CDO’s CSR activity dubbed as “We Care for Children”, November 20, 2013. Photo by GLENN PALACIO


BusinessWeek Mindanao (November 21, 2013)