BusinessWeek Mindanao (November 25, 2016)

BusinessWeek MINDANAO

YOUR Mindanao-wide BUSINESS paper

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Volume VII, No. 077

Market Indicators

As of 6:23 pm November 24, 2016 (thursday)

FOREX

PHISIX

US$1 = P49.96

6,873.31

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6.2 cents

36.67 points

X

Briefly Investment forum AT least 40 investors who flew to the Philippines from China to attend the Global Investment Forum being held now in Taguig City have started looking at Mindanao for prospective investment opportunities.

Mahal Ko Mindanao, Inc. Chairman Andy Que said yesterday that he was able to convince investors from China, Hong Kong, Macau, and Taiwan to visit the country to scout for investment prospects in the country.

Mahal Ko Mindanao Inc. coorganized the Global Investment Forum with Philippine First Investment Council Corporation.

RELIABLE

P15.00

PH to get investments in power, telecom industry www.businessweekmindanao.com

Friday | November 25, 2016

By ANTONIO L. COLINA IV MindaNews

APEC sidelines:

T

HE country w i l l op e n i t s doors to foreign investments in telecommunications and power to enhance competition that will bring down the costs and improve the quality of services, President Rodrigo R. Duterte said upon his return from the Asia Pacific Economic Cooperation Summit in Lima, Peru. investments/PAGE 11

PH tackles eco, military ties with China, Russia

By ANTONIO L. COLINA IV MindaNews

CROSSING PANGIL BAY. Still the most convenient and safest way to cross Pangil Bay, a ferry leaves the port of Mukas in Kolambugan, Lanao del Norte to Ozamiz City in Misamis Occidental.

The trip takes about 15 minutes. MindaNews photo by Froilan Gallardo

New PEZA chief backs Mindanao development

Food terminal THE ci t y g o v e rn m e n t o f Cagayan de Oro together with barangay officials led the opening of the Barangay Food Terminal (BFT) in Barangay Balulang on November 22.

The BFT is a national project implemented by the Department of Agriculture through the city government.

DA provides P400,000 financial assistance for the building construction, equipment and operating capital while the barangay council shares P40,000 as equity.

The food terminal project hopes to provide alternative source of farmers’ produce through direct marketing.

This will assure consumers availability of quality food products such as vegetables, meat, poultry, fish and basic commodities at low prices.

IN-DEPTH

CHRISTMAS FASHION. A staff of the Limketkai Luxe Hotel in Cagayan de Oro City does finishing touches for the Yuletide decors, using frozen icing, in the hotel lobby, to fashion out the Christmas celebration, PHOTO BY GERRY LEE GORIT

T H E n e w l y ap p o i nt e d he ad of t he Phi lippine Economic Zone Authority (PEZA) has reaffirmed the agency’s support for the administration’s goal to further develop Mindanao.

PEZA Director General Charito Plaza said in an interview that among the a g e n c y ’s i n i t i at i v e s t o promote development in

Mindanao are reducing energy cost and establishing more economic zones in the southern part of the country.

Plaza said she had discussions with Energy Secretary Alfonso Cusi to consider cutting power rates in economic zones that will be established in Mindanao.

PEZA/PAGE 11

PRESIDENT Rodrigo R. Duter te discussed with Chinese President Xi Jinping an d Ru s s i an Pre s i d e nt Vladimir Putin ways to broaden the Philippines’ e conomic and mi lit ar y rel at i ons w it h t he t wo countries.

Duterte held separate me et ings w it h t he t wo leaders at the sidelines of the Asia-Pacific Economic Cooperation (APEC) held in Lima, Peru from November 19 to 20.

In his arrival message at the F. Bangoy International late evening on Wednesday, Duterte said he and Xi agreed to to establish coordinating mechanisms to ensure timely follow-up of the agreements made during his state visit to China on Oct. 18-21.

The visit led to the signing of 13 major agreements on infrastructure, bilateral trade, agriculture, drug tackles/PAGE 11

Chevrolet unveils Trailblazer, Colorado in CDO

By MARK FRANCISCO, Staff Writer

CHEVROLET Cagayan de Oro unveiled the new 2017 Trailblazer and the new 2017 Colorado in a ceremony last

November 18.

With its b est in class Duramax diesel engine, speed through every journey with

the new 2017 Trailblazer with the power of 200hp under the hood. With 500 Nm of torque, easily push through uphill climb while pulling up to three tons chevrolet/PAGE 10

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CONTACT : 09177121424 Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

2

Going for quality food products:

Economy

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friday|november 25, 2016

A must for producers, consumers

E

L SALVADOR City, Misamis Oriental -- Realizing the importance of safe, palatable and nutritious food available for human consumption, the Agricultural Training Institute-Regional Training Center 10 (ATI-RTC 10) c o n d u c te d a t r a i n i n g on “Quality and Safety Management for Food Products,” November 1618, 2016.

Attended by 25 selected Rural Improvement Club (RIC) members coming from the different parts of northern Mindanao, the training was intended to empower the participants and be informed about the common issues among pro ducers (and

consumers alike) which is the maintenance and improvement of fresh farm produce that is safe to consume from farmer’s field into the consumer’s dining table.

“I am hurling a challenge that you as a group should not solely focus on production but also focus on processing.

Processing is the name of the game nowadays along with value-adding. We want to see you as successful ent repreneurs. That is why we do not want you to only limit yourselves in setting up small businesses.

We want you to aspire for something big and grand... but feasible,” Training Center Superintendent Angelito Y.

Quirog said in his opening statement.

Fresh fruits, vegetables and ot he r ag r ic u ltu ra l products are often thought of as healthful, nutritious foods having no risk of foodborne illness associated with their consumption.

However, some foodborne illness outbreaks have caused growers, shippers, distributors, retailers, and importers to re-evaluate fresh meat, fruits and vegetable production and handling practices.

With the expertise of Food Science & Technology D e p ar t m e nt C h ai r m an Phoebe L. Galeon, also president of the Northern Mindanao Food Safety Team

(NMFST) along with Vilma P. Zacal of the University of Science and Technology of Southern Philippines (formerly Mindanao University of Science and Technology), the dynamic duo of food tech gur u delivered a presentation on Good Manufacturing Practices (GMP), Good Hygienic Practices (GHP), Sanitation Standard Operating Procedure (SSOP), Hazard Analysis Critical Control Point (HACCP) and other standard quality control measure that should be followed to prevent food contamination.

“Though a food product will cost you more or force you to spend a little extra than the usual, always settle for quality,” Phoebe L. Galeon said during her presentation.

Me anw h i l e , HAC C P performs a detailed analysis

of the whole production system to identify physical, chemical and biological hazards and those points where prevention and control measures should be applied to minimize or reduce risks to acceptable levels. The steps taken to minimize risks should be properly registered and kept as a proof of action adopted.

For her part, Project

Officer Cristine A. Galupo s ai d t h at t h e t r ai n i ng participants are expected to create a simple SSOP and GMP Plan at the end of the 3-day training.

Most of the selected RIC member participants were already involved in food processing and with existing food products. (Vic Thor Palarca with reports from Ms. Cristine A. Galupo, DMO-I)

BSP conducts financial empowerment seminar STUDENTS and members of t h e wor k i ng s e c t or underwent a seminar on financial empowerment on November 22 in Cagayan de Oro city.

The seminar was conducted by the Financial Consumer Protection

Department (FCPD) of the Bangko Sentral ng Pilipinas (BSP) to promote financial literacy among Filipinos especially students and the working sector.

Divina Salve A. Labitad, bank officer of the BSP-FCPD, seminar/PAGE 10

Abot-alam empowers out-of-school youth

By ALLAN MAGLIPAC T-2 Looc Central , Plaridel South, Division of Misamis Occidental

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A B O T- A L A M i s a convergence program that is being undertaken by a consortium of various national government agencies and nongovernment organizations and institutions under the leadership of DepEd. In line with the o bj e c t ive of a c h i e v i ng t h e E du c at i on f or A l l targets and the Sustainable Development Goals (SDGs), DepEd announces the i mpl e me nt at i on of t he

Abot-Alam Program. It is a national strategy to locate OSYs nationwide who are 15 to 30 years old and who have not completed basic/ higher education or who are unemployed and to mobilize and harmonize programs which will address their needs and aspirations.

To date, D epE d has mapped over 1.2 million OSYs nationwide in their database - complete with names, birthdates, addresses, educational attainment and

their aspirations. Around 76,000 of them have already been enrolled in ALS but this is not enough. They still need to acquire the needed skills to be productive or be given opportunities to either be employed or go into business.

Education is a critical component of human development which in turn is necessary for economic growth. The program is proof of the government’s continued thrust to provide all Filipinos access to quality education and ensure that no learner is left behind.

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

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friday|november 25, 2016

Filinvest mulls bond offering in 1st quarter

F

ILINVEST Land, Inc. may return to the bond market within the first quarter of next year to raise P10 billion largely to push forward projects that will deliver recurring revenues.

The property developer is working on a bond offering, its President and Chief Executive Officer Lourdes Josephine Gotianun Yap said on the sidelines of the 3rd Annual SEC-PSE C or p or ate G ove r n an c e Forum in Pasay City on Tuesday.

“We i nte n d to d o a three-year shelf registration because the key there is really getting the approvals,” Filinvest Chief Financial Officer Nelson M. Bona told reporters during the same event organized by the Securities and Exchange Commission and Philippine Stock Exchange.

T h e l i s te d c omp any intends to register bonds wor t h P 3 0 bi l l i on an d

issue them in tranches of P10 billion within three years. The planned offering follows the retirement of five-year and three-month fixed rate bonds amounting to P3 billion on Oct. 7.

Asked when Filinvest intends to issue the initial tranche, Mr. B ona said: “Normally we do it in the first quarter as most others.”

The bond offering will mostly finance leasable developments, Ms. Gotianun Yap said, noting: “We’re one of the biggest commercial landowners of course in Alabang, Clark and Cebu.

Those three major locations are where we’re doing our recurring income.”

Filinvest is expanding its leasing business to secure a recurring income stream. To date, the company operates 2 1 bu i l d i ng s s p an n i ng 3 1 2 , 0 0 0 s qu are m e te rs (sq.m.) in gross floor area.

By yearend, it targets to have 348,000 sq.m. of office space and 433,000 sq.m. of

retail area.

In the first nine months, Filinvest managed to grow its revenues 6% to P13.60 billion following a 14% jump in rental revenues to P2.28 billion while real est ate s a les tur ne d out flattish at P10.24 billion.

It netted P3.46 billion or 7% more during the period.

Aside from developing leasing assets, Filinvest intends to use the proceeds to refinance debts, cover other capital expenditures and satisfy general corporate purposes.

The property developer is lo oking to issue t he securities in long tenors although the prevailing r at e s w i l l s e r v e a k e y consideration in finalizing the terms, including the pricing, of the proposed bond offering, Mr. Bona said.

“Our preference really is long term but depending on the rate at that point in time.

If the rate is acceptable, if

it’s 10 years or even longer, then we’d take it. But if it’s so wide, the difference between the shorter tenor then we’d pick up the shorter term.”

Filinvest will proceed wit h t he b ond of fering whether the US Federal Reserve will raise interest rates or not, a development expected to divert funds away from emerging markets and push rates higher, Mr. Bona noted. “ T h a t ’s a l r e a d y a consideration. Remember we came out from a much hig her rate. You’re not going to get rid of that. If you’re expanding with that, you have to live with that environment as long as your development is efficient,” Mr. Bona said. “ We h a v e s o m a n y facilities with other banks.

So, if the bond market is so high compared to the bank’s rates then we’d take the bilateral facilities. We have many facilities with the banks anyway.”

CEB reinforces partnership with ITP The Philippines' leading airline, Cebu Pacific (PSE: CEB), signed an agreement with ITP (Industria de Turbo Propulsores) on November 22, 2016, for the full support of the PW127M engines which power the airline’s ATR72-500 and 72-600 fleets.

In total, this agreement will cover 24 aircraft with an estimated duration of 12 years.

ITP has been providing maintenance, repair and overhaul (MRO) services to Cebu Pacific throughout the last seven years and this agreement signals the renewal of the partnership between both companies. ITP will be providing customer support f rom its repres entative office in Singapore, while the PW100 engines will be repaired at the company’s facilities in Ajalvir, Spain.

“CEB has worked with ITP over the last few years and this renewed agreement further strengthens our relationship. We believe that this partnership will enable us to further improve our aircraft reliability and

3

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Opinion

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friday|november 25, 2016

Why is airline food so bad?

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

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hot airline meals is for pre-cut, reheated meats, usually swimming in sauce, like boeuf bourguignon actually one of my favorite dishes. In part, the sauce works to counteract the dryness of the pressurised air cabin. But both the sauce and the slow reheat time also suit today’s blunt-edged airline cutlery sets, which have either no knife or an unsharpened one. Because it’s been so overcooked, you can cut it with a fork.

“Airlines have discovered that, if you also pre-cut the meat, you practically don’t need a knife,” says Guillaume de Syon, a professor at Albright College in the US state of Pennsylvania who studies the history of technolog y, particularly aviation. “Because it’s been so overcooked, you can cut it with a fork.” Perhaps the biggest consideration, though, is simply available space.

Wit h i n t h e y e a r s , I traveled to Asia and the U.S. Yes sure: more passengers, bigger planes, less attention to individual meals. Please keep in mind, I haven’t be a First Class Passenger. That’s another story, isn’t it?

A n y w a y, t o d a y ’s passenger planes are desig ne d to c ar r y wel l over 300 passengers, all of whom expect to be fed on roughly the same schedule.

Before the popularisation of the jet in the 1960’s, t hou g h , l e t’s note t hat passenger manifests were

small, usually fewer than 50 people, giving flight attendants time to devote attention to each passenger’s meal service.

S ome of t hos e e arly hot options would seem unrecognisably lavish to to day’s t ravellers, wit h menus that featured cooked-to-order omelettes, or mobile carving stations wheeled from seat-to-seat by an att e n d ant . Wit h hundreds to serve instead of dozens, though, today’s flight attendants simply no longer have the time to prep individual trays.

Instead, the trays need to arrive ready to go.

The large array of food options on offer to airplane passengers in the ‘60s and ‘70s simply doesn’t exist in most air travel anymore. But, that doesn’t mean the menu has completely disappeared.

It’s just been replaced by menus of another sort. Free unlimited wine, champagne and liquors? Once upon a time ... ! I remember a flight from Berlin to Moscow in 1979: bottomless Wodka.

Heaven forbid!

In the last decade, the number of entertainment options aboard the average aeroplane have exploded — and the design of the seats and cabin have changed to reflect this. Nowadays i t’s d e s i g n e d f o r y o u r entertainment — not for your food.

Passengers are offered music, often WIFI, and, most importantly, a large

H ave M y Say

Klaus Doring

menu of f i lms and T V options ser ved up on demand on personalised screens installed in their seat, instead of a single large screen up front. The installation of personalised screens has taken a lot of focus away from the food service, allowing airlines to cut back on food Today, though, ticket cost is the primary measure of competition and cutting out a meal or two can either add to the airline’s bottom line, or give it a little extra room to undercut a competitor’s price. Profits [could be] gained from chopping the kitchen out of the plane almost entirely. “Nowadays airlines are breaking out the expenses and leaving it up to consumers to choose what they want,” said Bob van der Linden, who is the air transportation curator at the US National Air & Space Museum. “It’s the market.

This is pure economics.

After deregulation in ’78, airlines are free to compete Doring/PAGE 10

Jilting causes Dayan to spill the beans on De Lima

Making up for the past Think a minute…Some time ago I read in the newspaper about a father who had killed his 10-year-old son because his school report was not good enough. The father was so angry that he reached for the nearest thing, a steel rod, and hit his son on the back. His 10-year-old little boy was killed instantly. Can you imagine the pain and regret that father lives with!

We all have regrets, and the feeling that we want to make up for the wrong we’ve done. Yet we know that in most situations we can’t. Sometimes we can repair the damage. We can pay a debt that’s long overdue. We can return the money we cheated or stole from somebody.

But most times it’s simply impossible to make up for what we’ve done wrong. Like beating and cursing your child in a moment of anger. No candy or toy can make up for how we hurt even destroyed their trust in us. Think of the man addicted to alcohol, drugs, or kava, or has adulterous affairs, putting his wife and children through years of pain, lies, and violence.

Yet even if he finally does stop drinking or having affairs, how can he ever erase or make up for all the hurt and damage he caused? How does the mother who had an abortion forgive herself and get free from her guilt?

I am frequent flyer around the globe since my 21st birthday. 1974 my first international flight took me from Germany to Norway.

3 hours. Not a big deal.

But, I remebered, I just peeled back the plastic off a freshly-delivered tray right off my airplane’s trolley cart and the mess looking back at you is a grim one.

The fault may not lie with the chef, though, but in the plane’s design. Everything is reheated. Sure.

The very nature of air travel, as well as how the plane is built and how it adjusts to high altitudes, ma ke fo o d prep arat ion fundamentally more difficult. There are some technical limitations to being high in the air that make it far simpler to just reheat pre-made food, rather than attempt t o a c t u a l l y c o o k f rom scratch — particularly in the pressurised air of the plane’s cabin.

Although planes routinely cruise at altitudes of around 40,000 feet, the pressure of the cabin is brou g ht b a ck d ow n to more comfortable altitudes of between six and nine thousand feet above sea level. Even those lowered altitudes, though, are still enough to slow down cook times considerably.

It’s not just the difficulties of cooking, though. Even the food service encourages heat-and-ser ve style meals. The preference in

THINK

A Minute

Jhan Tiafau Hurst So we can’t always repair the damage we’ve caused, no matter how much we try, not even through religion! That’s why Jesus Christ, Who was not guilty of any wrong, gave His own innocent life to free you and me from all our wrongs and guilt.

The only way we can make up for all the wrong we’ve done is by asking Jesus for His free gift of forgiveness and new life which He paid for with His own life.

It’s true that you cannot change your past, but Jesus can start changing your life now. If you ask Him to take control of your heart and character every day, He will give you a new life by helping you change with His love and power. Even with all your past failures and wrongs, your Maker will still give you another chance. So why not ask Him today?

Just Think a Minute …

LIFE’S INSPIRATIONS: “…

The Spirit clearly says that in later times some will abandon the faith and follow deceiving spirits and things taught by demons…” (1 Timothy 4:1, the Holy Bible).

-ooo THE DEAD CAN STILL BE FORGIVEN OF THEIR SINS: How do you commemorate the birthday of a loved one that is already gone f rom t his world?

Certainly not by greeting the departed a happy birthday because there is no longer any birthday to speak of.

And not by holding parties in his or her honor because he or she is no longer around to celebrate.

For me, the best way to commemorate that birthday is to read the Bible to the deceased. As the Bible clearly explains, the dead can no longer hear anything, as Ecclesiastes 9:5 and 10 point out. This is the reason why, during the first birthday on November 24, 2016 of my late father, Melanio P. Mauricio Sr., after his death in March this year, I read, posted, and played Bible verses for him.

Reading the Bible to our dead loved ones will have the effect of cleansing them of their sins so that, as the Bible itself is saying, even if they died as sinners, they would later on be allowed to enter

Paradise in the presence of God, and live there in eternity. So, if your loved ones have died, and their birth anniversaries come, read the Bible to them and help them escape the penalty for their sins!

-ooo JILTING CAUSES DAYAN TO SPILL THE BEANS ON “TWO-TIMER” DELIMA: An old proverb which 17th centur y English author William Congreve wrote, to the effect that “hell hath no fury like a woman scorned”, clearly applies not only to a jilted woman but also to a jilted man, as Ronnie Palisoc Dayan, the confessed lover of Sen. Leila De Lima, has shown in his testimony at the House of Representatives on Thursday, November 24, 2016.

Disclosing that he separated from De Lima after he slapped her when he found out that she was “twotiming” him as she was also having an illicit affair with another man he identified as “Warren Cristobal”, allegedly from the Metro Manila Development Authority, Dayan then freely provided testimonial evidence showing the senator’s links with drug lords detained in Muntinlupa City when she was yet justice secretary.

Dayan then claimed

further that he received mone y f rom confess e d Region 8 illegal drug king Kerwin Espinosa, for and on behalf of De Lima. He also confirmed that he and De Lima entered into an illicit relationship when she was still a private lawyer, and even if she fully knew that Dayan was married---disclosures which can cause her to lose her license as a member of the bar.

-ooo PEOPLE ARE GETTING TRULY BAD AND SINFUL: What do these disclosures against De Lima made

by Dayan and Espinosa show? For me, they show that many Filipinos---and many others in the whole world---have already truly lost their sense of morality and righteousness, and are no longer able to fulfill even the most basic rules on good manners and right conduct, much less the stringent rules of spirituality in everyday living.

This is proof that peoples of all sectors, whether man or woman, or rich or poor, or powerful or powerless, would become godless and wayward, as the Bible itself prophesied.

In 2 Timothy 3:1, we find a grave warning about people getting really bad which is even now coming true.

The warning says: “But

K ak ampi

Mo A ng Batas

Atty. Batas Mauricio mark this: There will be terrible times in the last days. People will be lovers of themselves, lovers of money, boastful, proud, abusive, disobedient to their parents, ungrateful, unholy, without love, unforgiving, slanderous, without selfcontrol, brutal, not lovers of the good, treacherous, rash, conceited, lovers of pleasure rather than lovers of God…” -ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 HOURS a day, in the Philippines and the world at www.facebook.com/ angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

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friday|november 25, 2016

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Celebrate Thanksgiving with Dining Discounts at SM Lanang Premier

F

rom November 24 to 27, treat your loved ones at SM Lanang Premier for a memorable Thanksgiving celebration. Exclusive dining promos await you at the metro’s premier shopping and dining destination.

For a sumptuous Filipino feast, SM Lanang Premier offers you several options. At Barrio Fiesta located at the 2nd Level of the Fountain Court, get a taste of its signature Crispy Pata and Kare-Kare with a pitcher of iced tea and fiesta rice for as low as P899.

Enjoy Bistro Selera’s scrumptious Fiesta Set for only P900, Mesa’s Crazy Food Sale Set at 45% off the original price, Dencio’s Kamayan’s Sari-Sari Espesyal at P1,240 and

Classic Savory’s Classic Affordable Group Meal for only P795.

You may also grab Choobi Choobi’s native Lechon Manok for only P350 and Crab and Shrimp Boil for P395 and Marina Tuna’s Eat 10 ways Tuna for only P330 per serving. Meanwhile, Hukad offers diners a chance to win 2-day hotel accommodation at prime hotels for a minimum purchase of P1,200.

For a pizza feast, get 50% off on all Pan Pizza family and regular sizes at Pizza Hut. Bhajia Grilled Pizza also lets you delight in 2 pieces of 16-inches flavored pizza for P399 and 2 flavored burgers for only P150.

Don’t miss as well the dining promos at your favorite coffee shops.

Dayaw Coffee and Tea offers Christmas Mint Frappe and Barista Mix at discounted prices.

Meanwhile, The Coffee Bean and Tea Leaf has certain freebies for diners, Giving of Journal coupon and 10% discounts on mugs and tumblers for the month of November.

If you’re craving for Korean cuisine, visit Manna Korean Restaurant at the Skygarden for a Jamjatanj Family Meal good for 5 persons at P800 and Jampong or Bibimbap at P99 only from 11am to 3pm on weekdays.

Enjoy this Thanksgiving weekend with your family at SM Lanang Premier! Check out SM Lanang Premier on Facebook, Twitter and Instagram for exclusive promos and event updates.

SSS lauded for compliance with international quality standards

A candidate is being questioned during the Miss Pilgrim Christian College Ambassador 2016 search held last Wednesday in Cagayan de Oro City. PHOTO BY MARK FRANCISCO

The Social Security System (SSS) received its second Certificate of Recognition from the Government Quality Management Committee (GQMC) for the pension fund’s successful efforts to adhere to international quality standards, particularly with the ISO 9001:2008 requirements, during the 4th Recognition Ceremony held on November 10 at the Land Bank of the Philippines Auditor ium in Ma late, Manila.

SSS was lauded this year for the ISO certification attained by its branches in La Union, Baguio, Camiling, Pasig-Shaw, Taguig, Calamba, Legazpi, Bacolod, Cebu, and Butuan, and their corresponding Pro c e s s i ng C e nt e r s i n La Union, Tarlac, Pasig, Makati, San Pablo, Diliman, Iloilo, Cebu, and Cagayan de Oro. The certification

covered the processes of the Registration and Coverage System including those for management and support.

Photo shows SSS Vice President for Management S e r v i ce s and Pl anni ng Division Eleonora Y. Cinco (3rd from left) receive the plaque from GQMC Chairperson and concurrent Department of Budget and Manage me nt S e c re t ar y Benjamin E. Diokno (3rd from right). Also onstage were (from left) Development Academy of the Philippines Vice President Magdalena L. Mendoza, Office of the President’s Deputy Executive S e c re t ar y for Int e r n a l Audit Alberto A. Bernardo, Department of Interior and Local Government Assistant Secretary Ester A. Aldana, and Department of Trade and Industry Assistant Secretary Ireneo V. Vizmonte.

Banking&Finance BSP keen on restoring perks for bank mergers, acquisitions

7

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friday|november 25, 2016

M

ONETARY officials are considering r e s t o r i n g r e g u l at o r y i n c e n t i v e s for b ank mergers and acquisitions (M&A) to further strengthen the banking industry.

Bangko S entral ng Pilipinas Deputy Governor Nestor Espenilla Jr., in his speech during the Chamber of Thrift Banks (CTB) general membership meeting Tuesday, said the central bank had been strongly advocating M&A because “we don’t want to see banks close.”

The central bank has

introduced several programs to encourage M&A and these include the Strengthening Program for Rural Banks (SPRB), its enhanced version, SPRB Plus, and the Consolidation Program for Rural Banks (CPRB).

SPRB was implemented f rom 2 0 1 0 unt i l 2 0 1 3 , SPRB Plus ended on Dec. 31, 2014 after a one-year extension of its predecessor, while CRPB has a two-year implementation period that will end on Aug. 25, 2017.

Banks that availed of the SPRB and its enhanced version were given financial a s s i s t an c e , w h i c h i s a

combination of preferred shares and direct loan, and regulatory incentives, which include waiving of the special branch licensing fees equivalent to the amount of capital contribution of the strategic third party investors (STPIs).

Espenilla said they were considering restoring the regulatory incentives under SPRB Plus because “we’re still encouraging mergers and consolidations.”

“And that’s also a way of helping those that have problems. This is a possible way out,” he said.

The central bank official

AMLC files money laundering charges vs. RCBC execs SIX current and former officials of the Rizal Commercial Banking Corporation (RCB C) was charged with money l au n d e r i n g b e f o re t h e Department of Justice (DOJ).

According to the Complaint-Affidavit received by the Department of Justice (DOJ) on November 18, 2016, the Anti-Money Laundering Council (AMLC) included in the charges former Retail Banking Group head Raul Victor B. Tan, who resigned last April 20; National Sales Director of the Retail Banking Group Ismael R. Reyes; and Brigitte R. Capiña, Retail Banking Group Regional Sales Director.

Also included are Nestor O. Pineda, District Sales Dire c tor ; R omu a ldo S. Agarrado, Customer Service He ad, Jupiter Business Center; and Angela Ruth S. Torres, Senior Customer Relations Officer of the Jupiter Business Center.

Torres was terminated from her job after RCBC investigation showed that she, along with then RCBC Jupiter branch manager Maia Deguito, violated bank policies and procedures and falsified commercial documents that paved the way for the laundering of USD81 million that is part of the money stolen from the B angladesh central bank’s dollar account with the Federal Reserve Bank of New York last February.

T h e c omp l ai nt s ai d AMLC investigations showed that the six RCBC officers “facilitated the suspicious transactions” that enabled the remittance of a total of USD81 million to four US dollar accounts owned

by Michael F. Cruz, Jessie Christopher M. Lagrosas, Alfred S. Vergara, and Enrico T. Vasquez on Feb. 4, 2016.

It said the respondents f ai l e d to “c ondu c t t he requisite investigations and inquiries into the accounts,

their beneficiaries, and the transactions, attributable to their knowledge about the unlawful origins of the funds or their deliberate refusal to know the unlawful origins of the funds.”

It said the four accounts, along with that owned by one Ralph Picache, were opened on May 15, 2015 at the RCBC Jupiter Business Center with initial deposit of USD500 each. These accounts did not have any other transactions until February this year.

Peso deposit accounts were also opened by the same five bank account owners on Dec. 8, 2015, it said.

Last Feb. 4, payment orders were sent to the Federal Reserve Bank of New York supposedly by the Bangladesh Bank for the transfer of USD81 million to the accounts of Lagrosas, USD30 million; Cruz, USD6 million; Vergara, USD20 million; and Vasquez, USD25 million. charges/PAGE 10

said the program had several success stories “and in fact there are some more in the pipeline.”

He s a i d t h e y h a v e observed that foreign players were mostly interested on acquiring thrift banks (TBs) while consolidations mostly involved rural banks (RBs) and commercial banks (KBs).

He said there was no “one size fits all” rule for the players, thus, the menu approach.

“It depends really on the requirements of the transaction because it is transaction-driven,” he added.

PHL economic defense system remains sound --Tetangco BA NG KO S e nt r a l ng Pilipinas (BSP) Governor Amando Tetangco Jr. said the Philippine economy is expected to remain strong amid negative external risks since domestic fundamentals remain solid.

In his speech during the Security Bank Economic Forum in Raffles & Fairmont Hotel in Makati City on Wednesday, the central bank chief said the domestic economy’s growth dynamics “continue to be convincing.”

“Domestic economic activity is seen to remain firm, supported by solid private household consumption and investment, buoyant business and consumer sentiment, and adequate credit and domestic liquidity,” he said.

The BSP chief said that while the rate of price increases to date remains below the government’s two to four percent target, it is tetangco/PAGE 10

OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274

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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

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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

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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.

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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

#SAVESEXY CDO volunteers engages Capitol University students to be aware in HIV prevention during a roadshow over the weekend. #Savesexy is a global movement anchored on the premise that while other groups are campaigning to save rhinos and blue whales, theirs is saving humans first. PHOTO BY BO DACLAN FOR #SAVESEXY CDO

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558

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friday|november 25, 2016

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friday|november 25, 2016

9

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friday|november 25, 2016

Chevrolet...

Doring...

of gear.

For a smooth drive and a calming ride for your passengers, Trailblazer takes pride in it signature soft-ride suspension. Uniquely styled 18-inch gunmetal wheels enhance the Trailblazer’s sturdy good looks. The ability to turn on the engine and control power windows remotely is doubly useful in cooling down the cabin on those hot days.

Being the widest and tallest in its class, the Trailblazer is a standout in exterior size and generous interior space.

A newly improved smooth and silent engine and power train reduces vehicle noise resulting in a peaceful drive.

LED daytime running lights frame your Trailblazer’s automatically activating h e a d l a mp s , e n h a n c i n g the handsome new fascia.

Rain-sensing wipers and electrochromic rear view mirror help make driving stress-free. Active Driving Aids help you conquer ascents, hanging and descents while front rear park assist with reversing camera gives you a good view even of tight parking spaces.

Meanwhile, enjoy the 2017 Colorado with a classleading 800mm wading depth. Get hauling with its class-leading one-ton payload and 3.5-ton towing capacity. Its Active Safety Suite has forward collision alert, lane departure warning and tire pressure monitoring system. The Colorado is eight percent quieter on the road than before thanks to its newly designed door, window and windshield eats, front door glass that is ten percent thicker and a new aerodynamic headlamp design.

Chevrolet Cagayan de Oro is located along Kauswagan highway in Cagayan de Oro City.

anyway that they want — and they found the best way to compete is low prices.”

The shrinking space for food doesn’t, however, mean that airline meals are completely disappearing.

But, as airlines look for ways to trim budgets and save space, they’re turning back to those same groundprepped cold snacks and sandwiches that airlines began their food service with decades ago.“We’re moving back to the box lunches that we started with in the US during the late ‘30s, early 40s. Something that can be easily transported. Nothing terribly perishable, basically a box lunch, a picnic lunch,” said van der Linden.

Happy trip guys! See you abroad! +++ Email: dor ingklau s@ gmail.com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines.blogspot.com.

from page 1

Seminar... from page 2

said financial education is part of the mandate of the BSP to educate and protect financial consumers.

She said that consumers w h o are wel l - e du c ate d financially are more protected which makes them effective partners of the BSP in ensuring a stronger and safer banking and payment system.

T h e s e m i n ar t au g ht participants on the management of personal finance, credit card awareness, and how to spot and avoid financial scams and fraud.

They were also informed about the role of the BSP in the Philippine Financial System and its consumer assistance mechanism.

Dexter Erick A. Demafeliz, senior research specialist of the BSP Cagayan de Oro Branch, also gave reminders on the demonetization of old banknotes series and how to avoid counterfeit money.

(APB/PIA-10)

from page 4

Charges... from page 7

The complaint said that from 4:54 a.m. to 5:12 a.m. of the next day, RCBC’s Settlements Department received messages through the Society of Worldwide Interbank Financial Te l e c o m m u n i c a t i o n s (SWIFT) payment system f r o m R C B C ’s t h r e e c o r re s p o n d e nt f o re i g n banks, namely Bank of New York Mellon (BNYM), We l l s Fa r g o a n d C it i , regarding the payment to the four beneficiaries in the Philippines.

SWIFT is a 24-hour global communication network that facilitates secure international e x c h an g e of p ay m e nt s transactions among banks, central banks, multinational corporations and major securities firms.

At about 2:15 p.m. of Feb. 5, one Michael Bautista inquired before RCBC’s Treasur y Department about dollar sales and peso purchases, which was initially intended for the account of remittance company WeRQuick but later on settled for the account of another remittance company, Philrem Services Corporation (Philrem).

At around 3 p.m. of the same day, Dequito was alleged to have processed the opening of an account by one William (So) Go, which at around 3:16 p.m. of the same day received USD22.735 million from the account of Lagrosas.

USD14.2 million was, in turn, transferred from Go’s account to the Philrem account at RCBC-Unimart BC at around 3:27 p.m. of the same day and USD500,000 was transferred to Philrem’s dollar account at Unimart at around 4:48 p.m. ” B e t we e n 3 : 3 3 p. m . and 3:46 p.m., a “dummy credit” of P635 million was posted to Go’s account.

Thereafter, applications for five Manager’s Checks (MC) -– MC Nos. 557,, 558, 559, 560, and 561 -– with Philrem as payee, were processed for

the same amount. Philrem’s Salud Bautista received the MCs,” the complaint said.

Transactions, including the conversion of US dollars to peso by Philrem transpired until Feb. 9.

The complaint said that red flags were raised on Feb. 5 and the four accounts that received the remittances were placed on hold pending investigations on the unusual l arge fore ig n c u r re nc y denominated transactions.

Despite the red flags, which are issued when there are suspicious circumstances, the complaint said “Tan ordered at 7:14 p.m. (of Feb. 5) the lifting of the hold status on the accounts.” ”Tan never denied that he ordered lifting of the hold,” it said. ”If on 05 February 2016, he affirmed the holdout on the beneficiary accounts, subsequent transactions – money laundering – from these would have been prevented,” it said.

The complaint said the six current and former RCBC officials did, in one way or another, acts that are in violation of the Anti-Money Laundering Act (AMLA).

It cited that “knowledge, as an element of money laundering, may not necessarily be attributable to the doer of the predicate crime, but may be ascribed to persons who commit any of the acts stated in Section

4(a) to (f ), as is plain from the statute, which does not identify the doer of a money laundering offense.”

It said Agarrado and Torres “failed to observe the Know-Your-Customer (KYC) rule required under AMLA while Tan, Reyes, Capiña, and Pineda failed to conduct Enhanced Due Diligence (EDD) in dealing with the accounts. ” The evidence and circumstances therefore show that respondents recognized the certainty or likelihood t h at t h e a c c ou nt s and transactions were involved in illegal activities, or at least suspected this. Despite this, respondents were deliberately remiss in their anti-money laundering obligations,” it added.

Tetangco... from page 7

seen to go up to within-target levels in the next two years.

Average inflation in the first 10 months of this year stood at 1.6 percent. Inflation ticked up to 2.3 percent last September from last August’s 1.8 percent and remained at 2.3 percent last October.

Tetangco said that even with the expected hike in the Federal Reserve rates, the BSP “does not need to be in sync with the Fed.” “The policy actions of the BSP will remain datadependent and attuned to domestic conditions and the

inflation target,” he said.

He said the country’s banking system remains “sound and effective in intermediating funds from savers to the productive sectors of the economy.”

And while the peso is now depreciating against the US dollar at 49-level, the central bank chief said this is not worrisome.

He said the BSP has a policy of market-determined exchange rate, “but if we see movements that are excessive we will not hesitate to participate in the market to keep volatility in check.”

“Our flexible exchange rate policy provides us with a reliable tool to shield the economy from temporary gyrations, while our adequate res er ves and sustained current account surplus fundamentally anchor our external position,” he added.

These factors continue to back the domestic economy, he stressed.

“Given t he exter na l headwinds, I believe our defense system is sound,”

he pointed out.

In the third quarter of this year, the economy grew by 7.1 percent, the highest in Asia for the period.

It is higher than quarterago’s seven percent and brought the average growth to date to seven percent, the upper end of the government’s six to seven percent target this year.

Tetangco said that amid the external risks, which include concerns on the impact of the incoming Trump administration, the Brexit, and the rebalancing of the Chinese economy, the uncertainties remain manageable.

“It proves once again that our long-term bias towards stability and sustainability is our most effective guides and tool to ride out shortterm problems or shocks,” he said. “ We s h o u l d n o t b e s i d e t r a cke d by t h e unexpected, rather it should urge us to be more strategic and deliberate our our decisions,” he added. (PNA)

11

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friday|november 25, 2016

Investments... from page 1

In his arrival message at the Davao City’s F. Bangoy International airport late evening on Wednesday, Duterte said strengthening the power and communications sectors through competition as drivers of growth will enable the country to move faster.

“I’d like to send this strong message — it’s about time that we share the money of the entire country, and to move faster, make competition open to all kasi pagkaganito with the corrupt government and with limited area to move, you’ll stymie competition and we will always be at the mercy of the corrupt of this planet,” he said.

He added the government was finalizing plans and looking into regulator y requirements and institutional arrangements to hasten the entr y of new players in communications and power sector.

“Multibillion – multi is the first name, billion is the last name. Bakit ako magdadalawang isip. And I do not owe you anything, that’s precisely the reason why I was avoiding you during last election,” he said, alluding to power and telecommunications companies.

He told the same companies he might change his mind [on opening up the country to foreign investors] if they lowered their rates and improved their services.

“The Philippines acknowledged the significant role of more vibrant telecommunications and p ower industr y to be able to participate in the global market with a competitive edge, recognizing t he imp or t ance of l aw enforcement, creating an enabling, safe and secure business environment. We are also committed to enhance the capability of our police force,” he said.

Duterte acknowledged that while corruption in government is also true to other countries and they have yet to take concrete steps to address it, he could not afford to just wait and see.

“We do not monopolize government corruption. That problem is shared by the international arena, but I would like not to wait for the others. Buksan ko na ang Pilipinas para wala nang (I will open up the Philippines so there will no longer be — and maybe reroute the entire red tape,” he said.

He reiterated his stance against corr uption and warned that anyone in government who would commit anomalies will be dealt with “seriously and severely.”

To expedite the processing of business applications, he proposed that these be sent to his office and he would be the one to submit them and get the results from respective departments.

“Otherwise, wala tayong pahinga nito (we cannot have

a rest from this), and I would say kung ganun naman lang (if this situation persists), I’d rather resign and give it to the others,” he said.

Duterte said he is optimistic that the country can sustain its growth.

“The Philippines is on track with unparalleled trajector y of growth.

Let’s work hard together to sustain if not surpass what Philippines has so far achieved to improve the ease of doing business, suppress drugs and criminality, and eliminate corruption,” he said.

He s ai d t h at w or l d economic leaders reviewed the progress made by the APEC in “achieving the organization’s goals for trade has helped spur growth.”

He said that they acknowledged that “there was keen awareness that free trade must benefit not only the big businesses.”

“I stressed the Philippines position that we must go b e yond f re e t rade and focus instead on economic trade policies that must immediately yield benefits for our micro small and medium enterprises that form the backbone of the APEC economies,” he said.

He said that they need to develop the micro, small, and medium enterprises to enable them to compete globally by providing a “supportive policy framework that ensure economic environment for all businesses to thrive.”

Tackles...

from page 1 control, among others.

China has pledged for the first time to offer official development assistance to the Philippines, according to Finance Secretary Carlos Dominguez.

Duterte added that in his engagements with foreign and business leaders, he stressed the economic and fiscal reforms the country has undertaken to “make it the world’s top investment destination of choice.”

“The Philippines is on track with unparalleled trajectory of growth. Let’s work h ard to ge t he r to sustain if not surpass what the Philippines has so far achieved to improve the ease of doing business, suppress drugs and criminality, and eliminate corruption,” he said.

Russia visit In his meeting with Putin, Duterte said he welcomed the latter’s invitation to visit Russia.

He said Foreign Affairs Secretary Perfecto Yasay Jr. and Defense Secretary Delfin Lorenzana will make advance visits “to firm up the substantive agenda with Moscow.”

Duterte earlier threatened to follow Russia’s move to le ave t he Inter nat iona l C r i m i n a l C ou r t i f t h e international community continued to criticize him for the alleged state-sanctioned killings that are being linked to the war on drugs.

He added the country would join Russia if it

decided to create a “new order”.

IC C , a 1 2 4 - m e mb e r intergovernmental organization and tribunal based in The Hague in t he Net herlands, holds jur is dic t ion over c as es of genocide, war crimes and other crimes against humanity.

“The court is participating in a global fight to end impunit y, and t hroug h i nt e r n at i o n a l c r i m i n a l justice, the C ourt aims to hold those responsible accountable for their crimes and to help prevent these crimes from happening again,” the ICC website stated.

Foreign policy shift?

Duterte has shown openness to forging broader cooperation with China and Russia in the economy and other fields. On the other hand, he has displayed re s e nt me nt tow ard t he United States, even throwing explet ives at President Barack Obama in some of his public statements.

Duterte said he wanted a stop to joint militar y exercises between the US and Philippine armed forces under the Visiting Forces Agreement, and told American troops in Mindanao to leave.

His officials, however, clarified that the country was not abandoning its alliance with the US. American and Philippine troops usually held their exercises in areas near the West Philippine Sea, over which both the Philippines and China have claimed sovereignty.

In July this year, the Permanent Arbitral Tribunal of the UN ruled that the disputed islets in the West Philippine Sea belong to the Philippines. China, however, had snubbed the case filed by the Philippines from the start.

During Duterte’s visit to China, he and Xi said in a joint statement that they acknowledge the centuriesold bonds of friendship between their countries.

“Both sides agree that since the establishment of diplomatic relations, Philippines-China relations have enjoyed smooth development and remarkable progress in many areas of cooperation which have benefited both countries and peoples,” the statement read.

They also commit to “further enrich PhilippinesChina bilateral relations, founded on mutual respect, s i nc e r it y, e qu a l it y and mutual benefit, which is conducive to regional peace, stability and prosperity.”

“Both sides acknowledge the great importance of mai nt ai n i ng h i g h - l e vel exchanges in promoting the all-around CAGAYAN DE development ORO MAIN BRANCH of P & J Lim Bldg., Tiano Brothers bilateral relations,” Kalambagohan Sts.,it stated.

telecommunications, and water supply services. We will be inviting the industries, these water and power supply, and we will also go into renewable energy,” the PEZA chief added.

Earlier, Plaza said PEZA wants a defense industrial complex to rise in Mindanao where manufacturing of defense equipment will operate and will generate jobs for the region.

Plaza likewise mentioned that Malaysian palm oil producer Alif Global Islamic Equities Sdn. Bhd. Eyes to invest USD1.0 billion for an agro-industrial economic zone in Agusan del Sur. (PNA)

Awards... from page 12

Bellied Pigs Rugby Club’s Fat Boys 10s Rugby was hailed Charity Event of the Year 2015 for delivering medical assistance to 1000 kids annually through funds generated from annual golf and rugby tournaments.

PEZA...

Resorts World Manila Golf Masters, which catered to the event broadcasted to over 200 countries, took home the Event Sponsorship Award of the Year 2015. This professional golf tour is touted as the richest tournament in the Philippines, with a US$1million prize money.

T h e aw a r d e e s w e r e selected by a panel of judges which included, Philippine Olympic Committee Board Member and Chairman for Women in Sports Cynthia Carrion–Norton, Philippine Sports Commission Chairman William Ramirez, DOT Undersecretary Benito Bengzon Strategic Works, Inc. director for public relations Mark Parlade, and Charles Lim of Selrahco Management.

The first of its kind in the ASEAN region, the Philippine Sports Tourism Awards is made possible with the support of the Philippine Amusement and Gaming Corporation, Cebu Pacific, and Resorts World Manila.

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Tel. # (088) 387-0491 “ICamiguin was told we’re paying CORRALES BRANCH around Php12.00 per kilowatt Corrales Ave., Cagayan de Oro City hour. Now, it will be lower DIVISORIA BRANCH --Atty.Php5.00 or Bldg., less#61 than Erasmo B. Damasing Don A. Velez St., Cagayan de Oro City Php10.00.

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DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

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Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region OFFICE OF THE CLERK OF COURT EX-OFFICIO SHERIFF Tubod, Lanao Del Norte NOTICE OF EXTRA-JUDICIAL SALE EJF No.: 207-07-2016 Upon the Extra Judicial Petition for Sale under Act 3135/1508, as amended, filed by the 1st VALLEY BANK, A DEVELOPMENT BANK, Baroy, Lanao del Norte against LOVE VELLA S. FALCUNIT, Poblacion Bacolod, Lanao del Norte, to satisfy the indebtedness which as of August 18, 2016 amounting to TWO HUNDRED THOUSAND PESOS (Php 200,000,000.00) excluding penalties, changes, attorney’s fee and expenses of foreclosure, the undersigned or his duly authorized deputy will sell at Public Auction on 20th day of December 2016 at 10:00 AM or soon thereafter at the Regional Trial Court, Branch 07, Provincial Capitol of Lanao del Norte,Pigcarangan, Tubod, Lanao del Norte, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all its improvements, to wit: LIST OF MORTGAGED PROPERTIES OCT No. 14,800 Lot No. 2520-C, Csd-12-006619-D A parcel of Agricultural land situated at Caniogan, Tubod, Lanao del Norte with an area of (36,223) square meters more or less. Bounded on the N. W., along line 1-2 by Lot 2520-B, Csd-12-00-6619-D., and on the N.E., along line 2-3 by Lot 2519, Pls-13., and on the S.E., along line 3-4 by Lot 2520-D, Csd-12-006619-D., and on the S.W., along line 4-1 by Lot 2520-E. Csd-12-006619-D (Alley Re ad). Together with all the improvements found thereon. ‘’All sealed bids must be submitted to the undersigned on the above stated time and date.

In the event that the Public Auction cannot take place on the said date, it shall be held on September 28, 2016 without further notice.

Tubod, Lanao del Norte, Philippines, this November 10, 2016.

For the Clerk of Court and Ex-Officio Sheriff

(Sgd.) CONRADO V. HINGCO, JR. Sheriff IV

BWM: Nov. 18, 25 & Dec. 2, 2016

12

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

friday|november 25, 2016

Industry stakeholders recognized in first-ever Philippine Sports Tourism Awards The search for the best sports tourism efforts in the country has culminated with the first-ever Philippine Sports Tourism Awards. Held at Resorts World Manila, the Awards recognized events, destinations, local government units, national sports associations, private c o mp a n i e s , a n d e v e nt organizers who have contributed to the growth of the local sports tourism industry.

Organized by the Philippine Sports Commission, Department o f To u r i s m ( D O T ) , Tourism Promotions Board Philippines, and Selrahco Management, the Awards at t r a c t e d hu n d re d s of nominations from across the country but only nine

programs were distinguished for their efforts to develop and promote the Philippines as a sports tourism destination.

Clark Freeport Zone, Pampanga was named the Sports Tourism Destination of the Year for hosting various sp or ts tourism events, including racing competitions, car shows, Frisbee games, and the widely attended Philippine Hot Air Balloon Fiesta that welcomes around 112,000 local and foreign visitors yearly.

The Municipality of Lubao and Sunrise Events, Inc. also took home individual trophies as Organizer of the Year in the public and private sector categories, respectively. Both winners have held events that boosted local sports tourism as a viable industry in the

Philippines.

Cebu’s Tabuelan 111 won in the Event of the YearDomestic category, for its successful tri-event races held in celebration of the town’s fiesta. Ironman 70.3 Philippines, meanwhile, took home the award in the Event of the Year-international events category.

The Philippine InterIsland Sailing Federation, which popularized boat races in the country, was named Sport Association of the Year.

Ironman 70.3’s campaign to make Cebu a global sports tourism destination won the Destination Marketing of the Year award.

The Philippine Rugby Football Union and Hong Kong-based civic group Pot awards/PAGE 11