BusinessWeek M I N DA N A O CREDIBLE
Volume X, No. 71
Market Indicators
AS OF 6:00 PM NOV. 23, 2019 (SATURDAY)
FOREX
PHISIX
US$1 = P 50.800
7,824.59
X X Briefly
6.50
5.70
cents
points
Buy local, eat local
YOUR MINDANAO-WIDE BUSINESS PAPER
RELIABLE
IN-DEPTH
P15.00
Mindanao assured of stable power supply www.businessweekmindanao.com
Monday|November 25, 2019
M
Thank you for trusting us!
By ALLEN ESTABILLO, PNA
AASIM, Sarangani -- Mindanao residents and its thriving industries are now assured of stable power supplies in the coming years, with the government continually pushing for more investments to further boost the island’s energy resources.
AMID the African Swine Fever (ASF) that affected local pork meat, the government is urging Filipinos, who are now turning into chicken as their source of meat, to buy locally produced agricultural products. Agriculture Secretary William Dar said buying local produce, especially rice can support Filipino farmers. Dar said his department will ensure that local farmers will be competitive, as it focuses on increasing the production and also strengthening industrialization anchored on a value-chain approach.
President Rodrigo R. Duterte gave such assurance as he led here on Friday afternoon the inauguration and launching of two major
No price hike THE Department of Trade and Industry (DTI) reported that a total of 134 Noche Buena products have maintained their prices while six products have lower prices in 2019 compared to last year’s suggested retail price (SRP) list. In a 2018 versus 2019 comparative SRPs of Noche Buena products released by the agency, 134 product lines, such as queso de bola, cheese, sandwich spread, mayonnaise, spaghetti, elbow and salad macaroni, spaghetti sauce, tomato sauce, as well as creamer products have maintained their prices since last year. Trade Secretary Ramon Lopez shared the news amid recent reports that 92 products have increased their prices. Every year, there are increases for a few premium brands and most would have minimal increases. However, brands for mass-based markets do not usually change.
We strive for Excellence!
Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting
HYDRO POWER. President Rodrigo Roa Duterte inspects the scale model of the Siguil Hydro Power Corporation’s 14.5-Megawatt Hydropower Project during its launch in Maasim, Sarangani Province on November 22, 2019. joey dalumpines/presidential photo
Mindanao mango producers to tap high-value markets DAVAO City – Mindanao’s fresh mango producers are gearing up to tap high-value international markets, the Mindanao Development
Authority (MinDA) said in a statement on Friday. This was the product of a key agreement during the recently-concluded Mindanao
power projects -- the second 105-megawatt (MW) coalfired power plant of the Sarangani Energy Corp. STABLE/PAGE 9
Alsons starts building river hydro plant, opens new coal-fired facility A L S ON S C ons o l i d at e d R e s ou rc e s , Inc . ( AC R ) launched on Friday construction of a 14.5-megawatt (MW) hydroelectric power plant in
Sarangani while marking the inauguration of the second unit of its 210-MW coal-fired power plant in the same province. ALSONS/PAGE 9
Fresh Mango Producers forum, co-organized by the Department of Agriculture (DA) 11 (Davao Region) and MANGO/PAGE 9
Malaysian firms eye ICT, agri link with Mindanao counterparts By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City — Information and communication technology (ICT) companies from Malaysia have started discussing
potential collaborations with the business process outsourcing (BPO) industry here, particularly on system solutions.
“We want to complement (the operations of the local BPO industry),”Siti Azlina, Malaysia External Trade Development Corp. (Matrade) Manila trade commissioner, AGRI/PAGE 9
LIGHTS UP. The town plaza of Manolo Fortich, Bukidnon lights up at night with its elaborate lighting fixtures, attracting visitors from nearby areas. A first class municipality, Manolo Fortich borders Cagayan de Oro City. mindanews photo by h . marcos c . mordeno
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776
2
Local BARMM okays P100-M More male HIV carriers abaca fiber processing investment reported in Caraga
B
UTUAN City – There are more males infected with human immunodeficiency virus (HIV) compared to females in the Caraga Region, a top official of the Department of Health in the region (DOH-13) said. DOH-13 director Jose R. Llacuna, Jr. told Philippine News Agency (PNA) on Thursday that they have recorded a total of 705 HIV cases in the region as of June 2019. Of the total number of cases since 2014, 668
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
or 94.7 percent are males while 37 cases or 5.3 percent are females. Records show that the region recorded 63 cases in 2014 that increased to 86 in 2015; 95 cases in 2016; 121 cases in 2017; 158 in 2018; and, up to 705 cases as of June this year. He said most of HIV cases in the region are recorded in the province of Agusan del Norte, with 274 cases. “The record in Agusan del Norte is high because of Butuan City with 210 cases,” he added. Recorded cases of HIV
in provinces include 144 cases in Agusan del Sur that include 26 cases in Bayugan City; 140 cases in Surigao del Norte, including the 84 cases in Surigao City; 139 cases in Surigao del Sur, including the 26 cases in Tandag City and 29 cases in Bislig City; and four cases in the Province of Dinagat Islands. “The trend of the HIV cases in Caraga Region is going up,” Llacuna said, while also pointing out that HIV carriers in Caraga are getting younger.
DOH-13 records show that 49 percent of those infected are aged 25 to 34 years old, and 33.5 percent are aged 15 to 24 years old. “Most were infected through sexual contact with 698 cases,” he said, adding that most of the sexual contacts they recorded that transmit HIV in the area are through “men who have sex with men” or MSM. In the midst of the increasing number of persons infected with HIV in Caraga, Llacuna said DOH-13 is intensifying its campaign and advocacy for people to have themselves tested for HIV. “The test is free. If one is found positive of HIV then the medicines for treatment are also free,” Llacuna said. He also thanked CARRIERS/PAGE 9
COTABATO City -Another investment has earned the nod of Bangsamoro officials that aims to establish a fully mechanized abaca processing plant in the region. The P100-million investment is set to open in Lanao del Sur after the Regional Board of Investments of the Bangsamoro Autonomous Region in Muslim Mindanao (RBOIBARMM) approved Tuesday the registration of Hong Kong Feng Seng Heritage Philippines, Inc. (HK FSH) for the business partnership. The firm will put up an abaca fiber processing plant in Barangay Calilangan, Balabagan, Lanao del Sur where the Hofer Hacienda is located. In a statement, lawyer Ishak Mastura, RBOI
chair, said the new investment is the firstever fully mechanized abaca processing plant to be set up in the BARMM. The joint venture between HK HFS and Hofer Hacienda is seen as a big boost to existing and potential abaca farmers to maximize their produce since there is now an organized export market. “As the year closes, BARMM has shown the benefits of peace in terms of more willing investors in the region,” Mastura said, adding the confidence shown by business leaders was viewed as a vote of confidence on the leadership of BARMM Chief Minister Ahod “Murad” Ebrahim. Manolito Hofer, HK FHS Chief Executive Officer, said the project forms part of his advocacy to help end the armed struggle and push development in his home province, Lanao del Sur. “I am optimistic that with the start of this facility, more opportunities will come to BARMM,” he added. HK FHS plans to establish additional 10,000 hectares of abaca plantations through contract growing all over the region including the Zamboanga Peninsula to generate around 20,000 or more workers in the ABACA/PAGE 11
CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011
BusinessWeek MINDANAO CREDIBLE
RELIABLE
Editor: GILBERT Y. CHAO
MOTORING IN-DEPTH
Monday|November 25, 2019
3
Suzuki Philippines seeks more investor-partners in car dealership business DRIVEN to further expand its presence in the country and riding on its growing business momentum, Suzuki Philippines Inc. (SPH), the country’s pioneer subcompact car distributor, continues its Dealer Expansion Program and invites more investors across the country into the car dealership business. The program aims to open more dealerships in the country, in particular in areas with growth potential. The dealership partnership covers the construction and operation of new dealerships. “With the milestones Suzuki Philippines has reaped, including the ones we’ve achieved so far this year, we believe we are more equipped to grow the business further and spread to more areas in the country. We consider that now is the best time to work with more potential investors, and so we are looking for more business partners who share our
vision, believe in our products and see the great possibilities in growing with the brand. We are eager to bring more of the award-winning Suzuki vehicles to more parts of the country so we hope to gain more partners to team up with and together achieve success,” Suzuki Philippines Director and General Manager for Automobile Division Keiichi Suzuki
shares. SPH invites investorpartners interested to venture in the car dealership business to take advantage of this opportunity to open a Suzuki Auto dealership in the country. Interested parties may submit a letter of intent to sph_auto.dd@suzuki.com. ph. The following areas are currently available for
opening a Suzuki Auto dealership: Luzon Bulacan Camarines Norte Oriental Mindoro Cagayan Cavite Ilocos Sur Las Piñas Oriental Mindoro Quezon Sorsogon
Taguig Zambales Visayas Antique Lanao Del Norte Masbate Mindanao Agusan Del Sur Bukidnon Cotabato Lanao Del Norte Surigao Del Norte Zamboanga Del Norte
As it climbs up the industry ranking with its continuous positive growth throughout the years, SPH drives its goal of reaching more Filipinos through various marketing initiatives. SPH brings quality driving experience to local and provincial markets with its passenger cars and commercial vehicles. “It has always been the brand’s commitment to introduce innovative vehicles and deliver quality service that is accessible and convenient. It is our pleasure to offer our products and services to motorists in every major urban areas and provinces in the country so that we can share the Suzuki Way of Life with more Filipinos,” added Keiichi Suzuki. For more information about Suzuki Philippines and its car dealership business plans, please visit www. suzuki.com.ph.
4
Opinion
The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463-826-272-000 – VAT. Reg., and with Business Permit No. 2017-02942. Tel. Nos.: (088)856-3344, (088) 810-100, 0923432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com
SPEAKING OUT
IGNACIO BUNYE
ALLAN MARIO MEDIANTE
Vice President for Corporate Affairs
RUFINO T. MAGBANUA
Vice President for Business Development
JOE FELICILDA
Vice President for Administration
JOHN AARON M. DEL BANDO
Vice President for Events and Promotions
JOE PALABAO
Vice President for Marketing
MIKE BAÑOS
Vice President for Digital
(Continued from last week) C o n s i s t e nt w i t h i t s mandate, the Monetar y Board (MB) met without fail at least once a week, even during the Holy Week and Christmas season. Once every 6 weeks, it met to set the policy rate. Discussions were
Editor-in-Chief
JUN AYENSA
Motoring Editor
Regional Editor - Caraga
MIKE BAÑOS Contributing Editors
ATTY. ANTONIO S. SORIANO
Feature Editor
2f, ICS Building Tel.No.: 881-0176 Tiano cor. Montalvan sts. Legal Counsel
CLIFFORD SANTILLAN
ATTY. MARIO T. JUNI
CHAINCERLIE SUMALPONG Advertising
Juni Law Office Cruz Taal St., CDO Legal Counsel
JOE PALABAO Layout Artist
DAVAO MARKETING OFFICE Door 223, Doña Segunda Bldg., CM Recto Ave., Davao City Telephone #: (082) 298-8815 Regional Mktg Manager-JOE PALABAO- 0926-8430152 Circulation-JOHN PAUL AQUINO, 0907-331-5640
Member: Philippine Press Institute Oro Chamber
Real competition Think a minute…Did you have to compete with someone else to get the girl or guy you wanted? Whether we like it or not, competition is part of life. Usually there are other people besides you who want that job, scholarship, business, or title. But some people will stop at nothing to win. Whether it’s lying, c h e at i n g , or g o s s ipi n g and destroying someone’s reputation. Yet when we compete only to win and beat the other person, it not only makes us bad losers, but also bad winners. That kind of competing produces a person with a bad heart and character, with selfcentered greed, pride, and envy. An important lesson in life is to learn to compete only against yourself. Then, whether you win or lose against others, you still win! Because all the time and effort you spent to work and improve only makes you a better person who’s closer to reaching your potential. As one guy put it: “Trespassing is okay, if the boundaries you cross are your own!” So
HAVE MY SAY
Cell No: 09352379999
MANILA OFFICE: 9th Floor, Unit 918, CityLand Herrera VA Rufino Cor. Valero St., Salcedo Village, Makati City Tel. # : 5555392,Cell No.: 0977-152-8860 LANI VALLIDO-Marketing Manager
THINK A MINUTE
JHAN TIAFAU HURST when we set good, important goals for ourselves, they work in two ways: we work on them, and they work on us. The real test of your success is whether you’re a better person than you were yesterday? Are your attitudes and character better? Are you a better husband or wife? A better father or mother? A better worker? Yo u k n o w, w e c a n compete and win in our career and making money, but if we lose our good character by being dishonest or hurting and using others, then we’ve lost the real competition and what’s important. The real measure COMPETITION/PAGE 11
tape-recorded and official minutes were reviewed, in the subsequent meeting, to ensure that they reflected very accurately the statements and comments of the Monetary Board Members (MBMs). G o v e r n o r Te t a n g c o usually presided over the meetings which normally lasted from 9:30 AM to 4 PM. During his absence, the other members of the MB took turns in presiding over the meeting which, as expected, ended a couple of hours earlier. MBM Peter Favila held the record for chairing the shortest MB meeting. I remember one meeting, sometime in June 2011, when Governor Tetangco temporarily yielded the chair to me. He was called
to Malacañan on a very urgent matter. The following day, the news was splashed in all the papers. President B enig no Aquino, III appointed Tetangco for an unprecedented second term as Governor of the Bangko Sentral ng Pilipinas. Discussions at the MB can be lively and spirited but the decisions were usually made by consensus. This was facilitated through preboard meetings, called by Governor Tetangco, to thresh out anticipated contentious issues. But I remember one instance when one Monetary B oard Memb er (MBM) vehemently disagreed with the majority. This was in the case of the closure of Banco Filipino in 2011. The
dissenter was mindful of what happened when Banco Filipino was first closed in 1985 during the term of Central Bank Governor Jose B. Fernandez. In the aftermath, Banco Filipino filed civil and criminal cases against the Monetary Board for alleged wrongful closure. The Supreme Court voided the closure and allowed Banco Filipino to reopen. In the present case, the majority were absolutely convinced that BSP had more than sufficient grounds to close Banco Filipino, including 1) insolvency and 2) unsafe and unsound banking practices. As e x p e c te d, B anc o Filipino filed both criminal and civil cases against the MB LOOKING/PAGE 11
Are you impossibly talented?
NELSON CONSTANTINO GILBERT Y. CHAO
MONDAY|NOVEMBER 25, 2019
Looking back (2)
BUSINESSWEEK MINDANAO CORPORATION Publisher DANTE M. SUDARIA President/CEO
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
KLAUS DORING Some people are. I don't belong to them. For sure. Po l y m at h s e x c e l i n multiple fields. But what makes a polymath – and can their cross-discipline expertise help tackle some of society’s most pressing challenges? I came across an article by David Robson, author of The Intelligence Trap, which examines the common thinking errors of smart people, and the ways we can avoid them. "In the late 1930s and
early 40s, Hedy Lamarr was already the toast of Hollywood, famed for her portrayals of femme fatales. Few of her contemporaries knew that her other great passion was inventing. (She had previously designed more streamlined aeroplanes for a lover, the aviation tycoon Howard Hughes.) Lamarr met a kindred spirit in George Antheil, however – an avant-garde pianist, composer and novelist who also had an interest in engineering. And when the pair realized that enemy forces were jamming the Allied radio signals, they set about looking for a solution. The result was a method of signal transmission called ‘frequency-hopping spread spectrum’ (patented under Lamarr’s married name, Markey) that is still used in much of today’s wireless technology. It may seem a surprising origin for ground-breaking
technology, but the story of Lamarr and Antheil fits perfectly with a growing understanding of the polymathic mind. The research suggests we could all gain from spending a bit more time outside our chosen specialism Besides helping to outline the specific traits that allow some people to juggle different fields of expertise so successfully, new research shows that there are many benefits of pursuing multiple interests, including increased life satisfaction, work pro duc t iv it y and creativity. Most of us may never reach the kind of success of people like Lamarr or Antheil, of course – but the research suggests we could all gain from spending a bit more time outside our chosen specialism." In addition to starring on the silver screen, Hedy Lamarr, a famous polymath, also co-
developed a transmission method that has carried into today’s technologies. Let's try to answer the question: What’s a polymath? Even the definition of “polymath” is the subject of debate. The term has its roots in Ancient Greek and was first used in the early 17th Century to mean a person with “many learnings”, but there is no easy way to decide how advanced those learnings must be and in how many disciplines. Most researchers argue that to be a true polymath you need some kind of formal acclaim in at least two apparently unrelated domains. One of the most detailed examinations of the subject comes from Waqas Ahmed in his book The Polymath, published earlier this year. The inspiration was partly personal: Ahmed has spanned multiple fields in his career to date. With an undergraduate degree in economics and DORING/PAGE 11
Navigating the perfect storm (Part 1) What’s with procrastinating business owners? In a recent sur ve y made by IC ON Executive Search covering emerging economies in Southeast Asia, a whopping 84% of founders and Gen 2 le aders have put of f succession planning — to the detriment of family, employees, and the business itself. Perhaps they do not realize that the two most significant risks to the future of any business is one that is often ignored: Ownership and Succession Risks. Ignoring ownership issues aggravated by leadership changes and together you have the perfect storm to take out the family business! In one of my recent governance and succession talks with business owners in Singapore, I was asked by a founder regarding succession and leadership, "I'm 69 years old, contemplating retirement for the past 5 years but worried for the future of my enterprise. I started working at 13
and here I am still mulling retirement but still unsure with the second generation. They don't have the drive to go the extra mile, make sacrifices, unlike our generation where we would always instinctively think about survival because we were poor. My siblings and I never had formal schooling so we vowed that our children will have the best education money can buy. Sadly, in terms of work ethic and performance, they have fallen short. Does it necessarily have to be my children that will succeed me? Can you share other succession options? For every owner that wants to pass the business to the next generation, succession planning should be your top priority. When you own a family business, retirement isn't just a matter of deciding not to report for work anymore. Beyond wealth preservation, the whole question of what will happen to the business becomes paramount long
after you are gone. Nagging questions like who's going to manage the business? How will ownership be transferred? Will there still be family harmony after I retire? How will the business fund my retirement? What will happen to my grandchildren? In my work coaching family owned businesses in Asia, the longer you get to spend on succession planning, the smoother the transition process is likely to be. If you’re preparing to handover the family business and you have reservations on your successors capability, you may want to first reflect on some possible options so transition can move forward with fewer bumps on the road. Hereunder are some key decisions covering a time frame of at least five years to get your succession plan moving: 1) Assessment of Current status with Governance Tools in Place · Collective definition of shared vision, mission,
PROF. ENRIQUE SORIANO values · Facilitate nextgenerational communication via Constitution · Activation of family council based on agreed upon family governance rules 2) Clarifying and Articulating the Transition Process A transition plan must be developed between the business leader and the next generation successors. The process should specify in unequivocal terms the transition date, performance expectations with welldefined Key Performance STORM/PAGE 11
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
AirAsia PHL looking to acquire A321neo
H
AMBURG, Germany — Philippines AirAsia, Inc. is looking to acquire an Airbus A321neo, an aircraft designed to reduce fuel consumption by 20% and accommodate more passengers. This announcement comes after Malaysia-based AirAsia Group Berhad received its first of 353 A321neos ordered from Airbus at a delivery ceremony here on Wednesday. Philippines AirAsia Chief Executive Officer Ricky P. Isla said the low-cost carrier is currently in the process of “concretizing plans to purchase an A321neo” from Airbus. “We continue to achieve our operational goals with our existing 24 A320s. Investing in newer additional aircraft will be advantageous for any airline in a slot-constrained environment,” he told reporters here. AirAsia Group will initially use the new A321neo for flights from Kuala Lumpur to two domestic destinations such as Kuching and Kota Kinabalu and three international flights to Singapore, Bangkok, and Shenzhen. Mr. Isla noted that the A321neo, which has 50 more seats compared to the previous A320neo, provides “opportunities to offer even lower fares to flying guests.”
“Eventually, majority of our aircraft will be A321neos and this is across the whole fleet,” AirAsia Group Aircraft Planning & Evaluation Head Matthew Glaus told reporters on Tuesday. Limited airport slots, particularly in Manila’s Ninoy Aquino International Airport, are a consideration in tapping these A321neos. “So any airport that’s suffering today, it’s gonna have an opportunity to see A321neos… Another thing, we see strong demand in terms of passengers. Eventually, the standard will be the A321neo aircraft across our fleet including the Philippines,” Mr. Glaus said. In his speech during the delivery ceremony on Wednesday, A320 Family Programme Head Michael Menking of Airbus said: “Following the first A321neo, more deliveries to AirAsia will begin and it will continue for quite some time as the airline has ordered a total of 353 A321neo aircraft.” He noted that the A321neo is a response to the “ongoing strong demand” across AirAsia’s network and “to open up new routes, enabling more people to fly further at a lower cost than ever before.” AirAsia Indonesia Chief Executive Officer Veranita
Yosephine said the A321neos will allow the company to grow further and become the largest low-cost carrier in Asia. “I’m looking forward to how the A321neo can contribute to our expansion network in Indonesia,” she added. Airbus said in a statement that the A321neo has “over 20%” less fuel consumption per seat compared to the previous generation A320neo. It also has a maximum flight range of 5.5 hours, or an hour higher than A320neo’s, which means that new destinations can be explored across Southeast Asia and beyond. Other features of the A321neo include lightweight and slimline seats with a mobile phone or tablet holder; three rows with a seat pitch of 37” or above; three additional rows of hot seats rows; USB in-seat power in every seat; and Rokki WiFi providing entertainment, shopping, and internet speed up to 10MB/s. Airbus said further that the A320 family received a total of 7,000 orders from at least 110 company customers globally as of end of October 2019. AirAsia’s current fleet consists of 194 A320CEOs (68 fitted with Sharklets), 40 A320Neos, 36 A330s, and two A330Neos. It has backlog of 13 A320Neos, 352 A321Neos, 30 A321XLRs, and 78 A330Neos.
San Miguel pilot-testing road made from recycled plastics
SAN MIGUEL Corp. (SMC) said it conducted pilot tests on the first road in the Philippines made from recycled plastics, to help address the country’s plastic waste problem. “What we want to achieve is to help address an important environmental issue, and that is plastic waste. We want to create a sustainable use for waste plastics so that they don’t end up in landfills and our rivers and oceans,” SMC President Ramon S. Ang
said in a statement. The test site occupies 1,500 square meters (sq.m.) at the company’s logistics center in General Trias, Cavite. The site is normally a marshalling area for trucks containing heavy loads and heavy equipment, and can be expected to demonstrate the materials’ resistance to wear and tear. About 900 kilos of plastic waste equivalent to 180,000 sachets and plastic bags were used, serving as binder with bitumen
for the production of asphalt. The added plastics can help make roads last longer than those usinge conventional asphalt. Its partner in the development of the recycled plastics road is Dow, Inc., a US materials science company. Further tests will be conducted in SMC’s other facilities and major infrastructure projects. Last week, SMC said it will start using biodegradable plastics for its packaging.
It will be using plastics developed by the Philippine Bioresins Corp., which can be 64.65% degraded in two years, compared with 4.5% for other plastics over the same period. The Department of Science and Technology (DoST) has issued the product an Environmental Technology Verification certificate. SMC also dropped its Purewater bottled water business Purewater in 2017.
ERC eyes lower price cap at WESM THE Energy Regulation Commission (ERC) is looking at a lower secondary price cap (SPC) in the Wholesale Electricity Spot Market (WESM) to counter spikes in electricity prices. It recalculated the secondary price cap in the WESM at P4,502 per megawatt-hour (MWh) from the existing P6,245/ MWh. Commissioner Catherine Maceda said the intention is not to unreasonably stifle the market growth but instead to come up with a better competition to happen. "However, we have to realize that we also have the
5
CorporateWorld
consumers into rest that we need to protect," she said Monday during the price cap public consultation. The hearing was called after the persistent alert warnings on thinning reserve power from March to June 2019. In determining the secondary price cap, ERC used the process of recalculation utilizing the same methodology applied under Resolution No. 04, Series of 2014, which adopted and made permanent the pre-emptive mitigating measure in the WESM. ERC drafted a resolution
adopting amendments to the pre-emptive mitigating measure in the WESM. The draft resolution said the recent developments in the electricity market impelled the ERC to review existing threshold levels of the secondary price cap schemes, and recalculate the same based on current market data using the period 2016 to 2018. The recalculated cumulative price threshold (CPT) level to PHP6,919/ MWh equivalent to the generator weighted average price over a rolling three-day period or 72-hour trading interval in the WESM.
ERC urged stakeholders to submit their written comments on the draft resolution until Nov. 22. Victorio Mario Dimagiba, president of Laban Konsyumer Inc., said the WESM market is “very sensitive” to supply consumption situations. "We in the consumers' group, anything lower than what it is, of course, we support," he said. "The regulatory actions should be synergized, we should cooperate and those enforcement actions coupled with the price cap, and that should be really supporting consumers’ welfare." (PNA)
RESORTS, HOTEL & RESTAURANTS DIRECTORIES
A PUBLIC SERVICE BY:
ALGEN’S DIVE RESORT (088) 3872015 APPLE TREE RESORT & HOTEL 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 0939-9076948 BAHAY BAKASYUNAN SA CAMIGUIN (088) 3871057 / 3870131 Fax: 3870278 BASAMANGGAS RESORT 08822-760564 Fax: 760565 CAGAYAN RIVERVIEW INN 8584245 / 729039 Fax: 8584245 CASA CRYSTALLA 8561704 / 722465 Fax: 722480 CASA ISABELLA (088) 8564065 CASA AZUCENA 8563402 / 09236593973 CHALI BEACH RESORT 732840 / 8552108 Fax: 8555941 CHANANTHON BED & BREAKFAST 8568189 / 3093095 COUNTRY VILLAGE HOTEL 8583004-06 Fax: 8583006 D’BUDGETEL 8564200/726643 Fax: 8564300 DAHILAYAN FOREST PARK 8568562 to 63 DE LUXE HOTEL 8572144 / 724548 Fax: 724563 DISCOVERY HOTEL 727814 / 8563896 Fax: 8563897 DUKA BAY RESORT (088) 3312290 Fax: 725265 DYNASTY COURT HOTEL 8574802 Fax: 857900 GRAND CITY HOTEL 8571900 / 728469 Fax: 723718
PRYCE PLAZA HOTEL 8583131 Fax: 726687 PRAWN HOUSE (088) 3095992 Fax: 8519219 RIDGE VIEW CHALET 8588946 / 8587946 Fax: 8588946 SEDA CENTRIO HOTEL 3238888 / 0917-577-5910 SOUTHWINDS HOTEL 724803 / 8562036 Fax: 8562036 STARGATE DREAM VACATION RESORT 8515003 / 8509999 THE VIP HOTEL 726080 / 8562505 Fax: 726441 RED PLANET 8800888/8801306 TRAVELERS POD 8518988 UPTOWN CONDOTEL 8511800 VILLA PARAISO APARTELLE 3870419 Fax: 3870429 HONORARY MEMBERS: DEPT. OF TOURISM 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: BIGBY’S CAFÉ 72-1071/857-5511/8575836 Fax: 711843 CAFÉ LAGUNA 8582999 Fax: 8567001 DM VILLARUY RESTAURANT 733790 GOLDEN AJIRANG I 856-5271 Fax: 727876 GRAND CAPRICE RESTAURANT 72-6955/856-2302 Fax: 72-4986
HOTEL CONCHITA 8563856 / 727355 Fax: 8563857
KAGAY-ANON RESTAURANT 728958 / 8563688 Fax: 8563843 / 729003
HOTEL KORESCO 8589749-50 Fax: 8589748
LA ILONGGA RESTAURANT 72-6183 / 857-3652 Fax: 72-4605
HOTEL SOGO 8520383 KINGSTON LODGE 8585696 Fax: 8585696
MISSY BON BON 8566852 / 09228606442 Fax: 8566852
MAPAWA NATURES PARK 8584402 Fax: 725265 MALLBERRY SUITES 8541999 / 7249999 Fax: 8544999 MAXANDREA HOTEL 8572244/729943 Fax: 724090 MIAMI INN 8581901 to 02 Fax: 725279/728486 N HOTEL (088) 8801924 PARAS BEACH RESORT 8568563 Fax: 8568563 PHILTOWN HOTEL 726295 / 8564402 Fax: 723104
SLERS HAM & CAFÉ 8551438 THAI ME UP 738424/3108424 Fax: 738424 BARKADAHAN GRILL 8551234 LA TEGOLA CUCINA ITALIANA 8585959 LIMKETKAI LUXE HOTEL 8800000 DEAR MANOK 8564914 / 8573413 LIMKETKAI LUXE HOTEL Landline: (088) 880-0000, Mobile: 0917-312-4563 Email: info@limketkailuxe.com
6
Environment
Amazon deforestation and number of fires show summer of 2019 not a 'normal' year
Burning in Amazon rainforest (stock image). Credit: © Marcio Isensee e Sá / Adobe Stock
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
T
HE fires that raged across the Brazilian Amazon this summer were not 'normal' and large increases in deforestation could explain why, scientists show. The perceived scale of the Amazon blazes received global attention this summer. However, international concerns raised at the time were countered by the Brazilian Government, which claimed the fire situation in August was 'normal' and 'below the historical average'. An international team of scientists writing in the journal Global Change Biology say the number of active fires in August was actually three times higher than in 2018 and the highest number since 2010. Although fires in the Amazon can occur in a number of ways, the scientists show that there is strong evidence to link this year's increases to deforestation. They have used evidence collected from the Brazilian Government's DETER-b deforestation detection system -- which calculates deforestation by interpreting images taken by NASA satellites. This shows that deforestation AMAZON/PAGE 9
DENR leads strategic communication planning Cimatu OKs hiring of over 2,000 workshop for Philippine Rise conservation
THE Department of Environment and Natural Resources (DENR), through its Biodiversity Management Bureau (BMB), will hold a three-day inter-agency workshop aiming to come up with a strategic communication plan for the conservation of the Philippine Rise Marine Resource Reserve (PRMRR). The workshop, happening from November 13 to 15 at Sulo Riviera in Quezon City, will bring together communications officers and other representatives from various government agencies, academic institutions and environmental groups. DENR Assistant Secretary and concurrent BMB Director Ricardo Calderon said the development of a communication plan forms part of a series of activities prescribed in PRMRR’s management plan formulated by an interim management group. “The communication plan will guide and support activities for
increasing stakeholder awareness and literacy on the ecological and economic value of PRMRR,” Calderon said. The workshop, he added, aims to generate “consistent and uniformed messages about PRMRR” from concerned government agencies and other stakeholders. Aside from DENR and BMB officials, communications officers from the Presidential Communication Operations Office, National Security Council, Department of Science and Technology, Bureau of Fisheries and Aquatic Resources of the Department of Agriculture, Department of Energy, and Department of Foreign Affairs will be attending the workshop. Other participants include those from the University of the Philippines’ Marine Science Institute and the Institute for Maritime Affairs and Law of the Sea, Conservation International Philippines, and National Coast
Watch Council. PRMRR is located within the 24-million hectare Philippine Rise, formerly known as Benham Rise, which in 2012 was declared by the United Nations as part of the country’s extended continental shelf. In May 2017, President Rodrigo RoaDuterte renamed Benham Rise to Philippine Rise to assert the country’s sovereign rights over the massive underwater plateau in the Pacific Ocean east of Luzon. A year later, the President declared portions of Philippine Rise as a marine resource reserve, placing 50,000 hectares of the undersea region under “strict protection zone” limited to scientific studies and designating 300,000 hectares as a Special Fisheries Management Area. Even prior to the proclamation, the BMB has been collaborating with key national government agencies and stakeholders working for the sustainable use of resources in Philippine Rise.
DENR: Public safety is a major consideration in granting tree-cutting permit THE Department of Environment and Natural Resources (DENR) never wants a tree to be cut down unless it is absolutely necessary for public safety. This was the assurance made by DENR Undersecretary and Chief of Staff Rodolfo Garcia amid the controversy over the cutting of roadside trees in the cities of Naga and Carcar in Cebu province to pave way for ongoing road widening projects of the Department of Public Works and Highways (DPWH).
During the press conference of the recently concluded International Federation of Landscape Architects-Asia Pacific Region Congress held in Cebu City, Garcia said it came to a point where the century-old trees, which are diseased and dying, already pose a high risk to public safety. “The aims of development projects and protection of the environment are guided by practicality and making sure we conduct consultation with the people—consideration will
be easing the lives of the people,” Garcia explained. Garcia said the trees have to be removed because these already encroach the highway including carriageways and sidewalks, thus endangering the lives of motorists and nearby residents. “If we have the diseased trees there, standing where the expanded highway or street is, it will pose danger to vehicles and there will be vehicular accidents,” Garcia said. He added that these trees also contribute to
the already bad traffic condition in metro Cebu which has narrow roadways. “We see the necessity of expanding the road networks here in Cebu, basically to help ease the lives of the people by making their transport faster.” The DENR official also cited the recommendation of a pathologist, who checked on the health condition of the trees, to cut them down because these are already dying and have become host to SAFETY/PAGE 9
estero rangers
ENVIRONMENT Secretary Roy A. Cimatu has given the go signal for the hiring of at least 2,000 estero rangers who will help local government units (LGUs) within and near Manila Bay to address indiscriminate waste disposal and improve garbage collection within their respective jurisdictions. Cimatu made the announcement himself in a recent meeting with senior officials of the Department of Environment and Natural Resources (DENR) whom he assigned as “river commanders” to oversee rehabilitation activities under the so-called “Battle for Manila Bay.” “We would like to impress upon the public that we really need to overhaul the disposal system in Metro Manila, make it efficient and for the public to stop dumping trash into our waterways,” Cimatu, head of the interagency Manila Bay Task Force, said. The DENR chief said that two estero rangers will be initially deployed to 711 barangays where there are alleys traversed by esteros and not reached by garbage trucks. These alleys are mostly populated by informal settler families. Cimatu said he already gave a directive to look into the possibility of increasing the number of estero rangers to at least 2,000, so that four may be deployed to each barangay. The estero rangers are
endorsed by their barangay officials in coordination with the Department of the Interior and Local Government. Under the contract, an estero ranger gets a monthly salary of P8,500 for a five-day work week schedule. He or she is tasked to conduct removal of garbage from esteros fitted with trash traps and house-to-house garbage collection in selected alleys for transfer and storage at pickup points accessible to garbage trucks. The estero rangers will be commissioned on November 15 at the DENR central office grounds in Quezon City. At least 203 creeks and waterways traversing the 711 barangays will be serviced by the estero rangers. Cimatu’s move to hire estero rangers addresses the dumping of garbage in esteros which the environment chief observed to have been partly due to the noncollection of garbage from informal family settlers living in narrow alleys near esteros. Section 17 (c) of Republic Act 9003 or the Ecological Solid Waste Management Act of 2000 provides that garbage collection should be in accordance with the approved local government management plan, which takes into account the “geographic subdivisions to define the coverage or the solid waste collection area in every barangay.”
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
Banking&Finance
BSP net income declines 14.54%
THE Bangko Sentral ng Pilipinas’ (BSP) JanuarySeptember net income year-on-year was down 14.54 percent to P38.65 billion from P45.23 billion last year. The BSP registered foreign exchange (FX) rate gains – which are realized gains from FX rate fluctuations – of P14.37 billion was also down from same period last year of P48.80 billion. Revenues, in the meantime, increased 92 percent year-on-year to P95.32 billion with interest income of P78.29 billion. Expenses in the first nine months of the year were also more than same
time in 2018 at P62.28 billion or 39.1 percent higher year-on-year. Interest expenses rose to P33.72 billion. The central bank’s amended law or Republic Act 11211 (“An Act Amending Republic Act No. 7653, Otherwise Known as the ‘New Central Bank Act,’ and for Other Purposes”) which was approved last February this year has increased the BSP’s capitalization by P150 billion, or from P50 billion to P200 billion. This will be funded solely from the declared dividends of the central bank.
AN indefinite moratorium on the issuance of long-term negotiable certificate of time deposits (LTNCTDs) will be in place starting Jan. 1, 2022. The LTNCTDs are bank products that have longer tenors compared to the regular time deposits. In Circular 1059
DOF won’t withdraw pending ‘sin’ tax bill
T
HE Department of Finance (DOF) will not withdraw its proposal seeking to increase “sin” taxes on alternative tobacco products despite President Duterte’s pronouncement banning the public use and importation of vapes and electronic cigarettes. Finance Secretary Carlos G. Dominguez III said that legislative deliberation on proposed higher excise taxes on e-cigarettes and vape products should continue in the Senate as they await the President’s executive order (EO)on the ban. “We are awaiting the EO on this matter from the Office of the President. In the meantime, we urge the legislature to pass the measure that is pending their approval,” Dominguez told reporters in a mobile phone message late Wednesday when issued last November 15, Bangko Sentral ng asked if the DOF will still push for Pilipinas (BSP) Deputy higher taxes on e-cigarettes and Governor Francisco Dakila vapes. Jr. said LTNCTDs that President Duterte recently have been approved but directed authorities to ban the use are still unissued by endof vapes and e-cigarettes in public December 2020 may still as well as their importation, saying be issued provided this is “it is toxic, and government has the done within the period DEPOSIT/PAGE 9 power to issue measures to protect
Bangko Sentral sets sked for indefinite moratorium on long-term deposit issuance
7
public health and public interest.” Last week, the Department of Health (DOH) reported the first case of e-cigarette or vapingassociated lung injury (EVALI) in Visayas. In recent months, a spike in the number of cases of EVALI has also been seen in the United States, with over 2,000 cases reported, and 39 people having lost their lives. Earlier, both the DOF and DOH said that it was better to regulate the use of vapes and e-cigarettes in the country than imposing a blanket ban on these products. According to the health and finance departments, a total ban may just force vapes and e-cigarettes onto the black market, where the products would be harder to control by the government. President Duterte had endorsed higher taxes on alternative cigarettes and alcoholic beverages, or Senate Bill No. 1074, as his urgent measure that needs to be passed by Congress before yearend and implemented beginning January 2020. In his letter to the Senate leadership, President Duterte
sought the swift passage of the bill “to address the urgent need to generate additional revenue to support the effective implementation of the Universal Health Care Act and to further protect the right to health of the people.” SB-1074 aims to align the tax rate of heated tobacco and vape with traditional cigarettes at P45 beginning next year, P50 in 2021, P55 in 2022, and P60 in 2023, with five percent annual increases onwards. The proposed bill also covers alcoholic beverages, which once passed into law will increase the tax on distilled spirits from P23.5 to P90 per proof liter with a 20 percent ad valorem tax beginning next year. Meanwhile, fermented liquors and alcopops would be taxed at P45 per liter, up from P25.4. Finally, a specific tax of P600 would be imposed on sparkling wines, while a specific tax of P43 would be imposed on still and carbonated wines beginning 2020. The DOF expects SB-1074 to raise at least P47.9 billion in incremental revenue for its first year of implementation.
8
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
9
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
Amazon... from page 6
in July this year was almost four times the average from the same period in the previous three years. This is important as deforestation is almost always followed by fire -- the cut vegetation is left to dry before being burned. Professor Jos Barlow, lead author of the paper said: "The marked upturn in both active fire counts and deforestation in 2019 therefore refutes suggestions by the Brazilian Government that August 2019 was a normal fire month in the Amazon." August's blazes occurred at a time without a strong droug ht. Droug hts can provide conditions favourable to the spreading of humanmade fires. The scientists also show that the 'enormous' smoke plumes that reached high into the atmosphere, which were captured by media footage of the blazes, could only have been caused by the combustion of large amounts of biomass. The researchers acknowledge that the number of active fires decreased in September by 35 per cent. Though they say it is not clear whether that fall is due to rains or President Bolsonaro's two-month moratoria on fires. Images from DETER-b show that deforestation continued at a rate well above the average in September, despite t he President's moratoria. The extent of August's fires is unclear. Although the numbers of fires are counted, their extent is not, the researchers acknowledge in their paper 'Clarifying Amazonia's burning crisis'. Dr Erika Berenguer, a Brazilian researcher jointly affiliated with Lancaster University and the University of Oxford, said: "Our paper clearly shows that without tackling deforestation, we will continue to see the largest rainforest in the world being turned to ashes. We must curb deforestation. "Brazil has for the past decade been an environmental leader, showing to the world that it can successfully reduce deforestation. It is both economically and environmentally unwise to revert this trend." The paper's authors are Jos Barlow of Lancaster University, Erika Berenguer of Lancaster University and the University of Oxford, Rachel Carmenta of the University of Cambridge, and Filipe França of the Universidade Federal do Pará. (Story Source: Materials p rov i d e d by L an c a s t e r University. Note: Content may be edited for style and length./ www.sciencedaily. com)
Safety... from page 6
pests and diseases. He emphasized that the government protects centuryold trees through the heritage tree project (HTP), but not those which are situated along highways and have
become hazard to public safety. Under t he H TP, t he DENR coordinates with communities and institutions to protect and save mature trees in highly-urbanized areas by designating them as “heritage trees.” The DENR—through its regional office in Central Visayas—conducted a consultation on October 25 with the Cebu provincial government and DPWHR e g i o n 7. D u r i n g t h e consu ltation, DENR representatives discussed the agency’s tree replacement program wherein it commits to plant 100 trees in exchange for each tree that will be cut down.
Carriers... from page 2
various groups that help the agency in their campaigns urging people to come out and subject themselves for HIV testing. “An HIV positive still has a chance to live with the support of medication,” he said, citing cases of those HIV positives who still survive for years. Llacuna added that Caraga has four testing and treatment centers for HIV, to include the Caraga Regional Hospital, the D.O Plaza Memorial Hospital, Butuan City Medical Center, and the Adela Ty Memorial Medical Center. (PNA)
Stable... from page 1
(SEC) and the 14.5-MW hydropower project of its sister firm Siguil Hydro Power Corp. He described the power proj e c ts, b ot h f lagship initiatives of the Alsons Power Group, as key milestones “in our quest to provide safe, reliable and affordable power to the island of Mindanao and the rest of the Philippines.” “I am pleased to note that since June 2016, the power supply in Mindanao h a s g r e at l y i mp r ov e d . From experiencing power deficiencies, which resulted in power interruptions in the past, it currently has excess power generation,” the President said. He said the Mindanao grid’s total installed capacity now stands at 4,038 MW, with a dependable capacity of 3,486 MW, way beyond the current peak demand 2,013 MW. SEC’s second power plant completes the 210-MW baseload power capacity of the USD570 million coalfired power plant in Barangay Kamanga here. The project’s initial phase was inaugurated by the President in January 2017. The company said the plant now delivers power to over six million people in 10 provinces and 12 key cities in Mindanao, including Cagayan de Oro, General Santos, Iligan, Butuan, Digos, Dipolog, and Pagadian. The PHP4.25 billion Siguil hydropower project, Alsons Power’s first venture into renewable energy, is targeted to be operational by 2022. “Siguro naman sa politiko
mahirap na magdaya ngayong (Surely it would be difficult for politicians to cheat in) 2022 with the kind of brightness that we are about to experience,” the President said. He cited that power generation companies have significantly contributed to the country’s continuing development, especially in Mindanao. The expanded power coverage nationwide has enhanced the implementation of the government’s “Build, Build, Build” infrastructure projects and the electrification programs, he said. “It is my hope that more power generation companies will invest in renewable energ y proj e c ts in t he Philippines to support the government’s advocacy [for] environmental protection and conservation of natural resources,” he said. He urged the private s e c tor to work clos ely with the Department of Energy, the Department of Science and Technology, the Department of Environment and Natural Resources to “effectively harmonize efforts towards ensuring inclusivity, sustainability, and efficiency in power generation.” “Be assured that this administration is determined in its goal to achieve power security in the countr y, consistent with its drive to uplift the living conditions of our people,” he added. (PNA)
Alsons... from page 1
“The two power projects that we are showcasing this afternoon represent our own modest contribution in support of the President’s commitment to provide the needed infrastructure for the economic growth and sustainable development of Mindanao and the rest of the country,” ACR President and Chairman Tomas I. Alcantara said in a speech to mark the two milestones. President Rodrigo R. Duterte attended the two launches. ACR claims to be the first private-sector power generator in Mindanao. Mr. Alcantara said the projects are in line with the government’s vision of “a Mindanao that enjoys the benefits of power security and the preservation of the environment by employing both traditional thermal baseload power and renewable energy.” Sarangani Energy Corp.’s $570-million baseload plant began operating its first 105MW unit in 2016 and started commercial operations for its second 105-MW unit in October this year. The power plant serves more than six million people in 10 provinces and 12 cities in Mindanao, including Cagayan de Oro, General Santos, Iligan, Butuan, Digos, Dipolog, and Pagadian. ACR said the plant is the single largest power investment in Sarangani province and the entire Region 12. Sarangani Energy is majority owned by Alsons
Thermal Energy Corp., a partnership between ACR and Global Business Power Corp. Its other shareholder is Japan’s Toyota Tsusho Corp. The P4.5-billion Siguil hydropower plant is the A l s o n s p o w e r g r o u p’s initial entry into renewable energy. It is expected to begin commercial operations in 2022 to power Sarangani province, General Santos City and key municipalities of South Cotabato. ACR said Siguil hydro will be the first of eight run-ofriver hydro power facilities that the group plans to develop in Zamboanga del Norte, other areas in Mindanao, and Negros Occidental in Western Visayas. The Alcantaras’ power business currently operates four power facilities in Mindanao with a total generating capacity of 468 MW.
Mango...
from page 1 MinDA, where prevailing issues and concerns of mango producers were tackled. The agreements and insights generated from the forum will serve as inputs to the ongoing feasibility study on the quality assurance system for fresh mango being conducted by the New Zealand Embassy and NZ G2G Partnerships Ltd., MinDA said. “We are looking forward to having this venue as the birthplace of a more organized, dedicated, and with a common vision, the ‘ONE Mindanao Mango I n d u s t r y C o u n c i l’, a n organization that will carry the hopes and dreams of all mango players in Mindanao,” MinDA Secretary Emmanuel Piñol was quoted as saying. MinDA, in cooperation w it h t he Ne w Z e a l and Embassy, has been facilitating the development of interventions to strengthen Mi nd ana o’s f re sh f r u it industry. “New Zealand has a lot of experiences in agriculture and we want to share that, with focus on Mindanao, given its agriculture and agribusiness potentials,” said Tim Stewardson, deputy head of mission of the New Zealand Embassy. Stewardson added that based on their visits to Mindanao, mango is one of the commodities that are struggling to access lucrative i nt e r n at i on a l m a r k e t s , including New Zealand and Japan. Meanwhile, a three-year co-investment project will be undertaken by the New Zealand group, in partnership with the Philippine government and industry players, MinDA said. The project aims to assist Mindanao’s mango sector to comply with stringent maximum residue level requirements in high-value markets. The regional mango councils are likewise set to convene next month to organize into a single Mindanao Mango Industry Council, forming part of the
major steps towards easing access to lucrative markets. (PNA)
Agri...
from page 1 said on Wednesday during a Matrade-organized forum. Another one of the ICT companies, she said, has been using artificial intelligence (AI) to forecast disease outbreaks. “It (the technology) would be very useful to the DoH (Department of Health) to predict any incoming outbreak and to do the planning,” said Ms. Azlina. Abu Bakar Yusof, Matrade Exports Promotion and Market Access Division senior director, said another sector that Malaysian companies are looking into is the sourcing of raw agricultural input such as coconut and banana for processing in Malaysia. “Davao and Mindanao are very strong in agriculture sector,” said Mr. Yusof. He a d d e d t h a t t h e processing companies would also consider setting up operations here “if there is enough good reason” and they can avail of incentives. Part of the trade mission is for Malaysian businesses to study local investment policies, assess air and sea linkages, and “understand the (local) culture.” Ms. Azlina also noted that Malaysian manufacturers have been moving towards
automation, which means using “as less lab or as possible.” The Davao City Chamber of Commerce and Industry, Inc. (DCCCII) said they see the trade mission paving t h e w ay for i n c re a s e d partnerships between Malaysian investors and local companies. “There are many synergies to explore,” said DCCCII Executive Vice-President John Carlo B. Tria. Meanwhile, the Malaysian delegation also included companies involved in the construction industry who are eyeing participation in the national government’s Build, Build, Build infrastructure. “We want to be part of that,” Ms. Azlina said.
Deposit... from page 7
allowed by the BSP. The circular said the LT N C T D m ay s t i l l b e issued beyond the end-2020 deadline "provided, further, that requests for authority to issue LTNCTDs shall only be accepted by the appropriate supervising department" of the BSP until Sept. 30, 2020. It added that the LTNCTDs "issued in accordance with this section shall remain valid and negotiable until their maturity dates without prejudice to the right of the issuing bank to pre-terminate" before the maturity date but subject to conditions for this issuance. (PNA)
ASIA WORLD PAWNSHOP
Main: Osmeña-Cogon Market, Cagayan de Oro Branch: Ipil St.,Carmen , Cagayan de Oro NOTICE OF AUCTION SALE Starting December 6-7, 2019 at 10:00 A.M. to 12 noon, this establishment will set an Auction Sale on all pledges since July 2019 at Osmeña-Cogon Market and Ipil St., Carmen, Cagayan de Oro City. Patrons are enjoined to verify their receipts.
MANAGEMENT PAHIBALO
Sa Disyembre 6-7, 2019 sa may 10:00 sa buntag paingon da alas 12 sa udto, ang Tanan nga penirenda nga wala malukat sa bulan sa Hulyo 2019 maapil sa subasta sa Osmeña-Cogon Market ug Ipil St., Carmen, Cagayan de Oro City. Giawhag ang tanan suki sa pagsusi sa ilang resibo. BWM: November 25, 2019
ANG TAGDUMALA
10
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
PARTIAL LIST OF FINALISTS Outstanding Mega-Entrepreneur
Agro-Industry Leaders
Ms. Beverly Dayanan Mags Lopez Calpito Cue Jalosjos Group of Companies
1. Rural Venture Inc. (SUGRUVI) 2. Mambatangan Milling Corporation 3. Bounty Fresh Corp., Cag de Oro 4. DAVAO EXOTIC FRUIT CORPORATION
Transport & Auto Industry Leaders ISUZU Cagayan de Oro Pabama Transport Corp, Bukidnon MGM Motors Mindanao, Inc., Davao Tourism Industry Leaders 7-Seas Resort, Cagayan de Oro City Seagull Resort, Davao City Fantasyland Travel & Tours, Dipolog City Outstanding Women Business Leaders
Best CSR Program 1. STEAG State Power Inc. 2. SM Cagayan de Oro 3. CEPALCO Outstanding Cooperatives Northern Davao Electric Cooperative (NORDECO), Tagum City TAGUM COOPERATIVE , Tagum City
Agriculture Industry MS. IRENE FLORO President, Oro Chamber, Cagayan de Oro Tagum Agricultural Development Corporation (TADECO) , MS. SHOLAI LIM Panabo City PWDC chair of Comval & PFLCW Vice-President for Mindanao Micro Entrepreneurs MS. JACINTZA CELLONA President of San Isidro Upper Rural Improvement Club (RIC) Women Association (SIURICWA) Lanao del Norte Necy Ann Ty, Davao City Pizarella, Cagayan de Oro Anthea Enterprizes, Cagayan de Oro Hotel Industry Leaders QueensLand Hotel Davao Mullberry Hotel, Cagayan de Oro The Margarette Business Hotel, Valencia City Resort Industry Leaders 1. Dahilayan Adventure Park, Manolo Fortich 2. Maze Park & Resort, Iligan City 3. Crystal Spring Resort, Bukidnon 4. Club Tara Resort, Surigao
Social Entrepreneurs Joe Green Project , Davao City Anthill , Davao City Len Cabili, Iligan City Outstanding Cooperatives ORO INTEGRATED COOPERATIVE , Cagayan de Oro Manuel Guianga & Sirib Growers & Employees MPC, Davao City
11
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019
Competition... from page 4
of success is not what you HAVE, but what you ARE as a person. What kind of heart and character do you have? What kind of relationships do you have with other people? If you’ve allowed yourself to compete against others and you’ve done dishonest things or hurt people. Why not ask Jesus to forgive you today and start changing your heart and way of living? Then you can learn to compete only against yourself and win every time! Just Think a Minute …
Storm... from page 4
Indicators (KPI’s). It is also important to clarify the level of involvement of the retiring leader. To p r o v i d e e x i t mechanisms for the successor, an employment contract indicating the terms of the engagement must be highlighted. When there is a shared vision and values as well as clarity in the roles of active and non-active family members, there exists their willingness to discuss transition issues openly. This means that they can now appreciate and enjoy each other and move forward together. 3) Make an honest and realistic assessment of your gene (family) pool You may want your firstborn son to run the business, but does he have what it takes to run the business. Does he have the commitment or even the interest to do it? To Be Continued... esoriano@wongadvisory. com
Doring... from page 4
post-graduate degrees in international relations and neuroscience, Ahmed has worked as a diplomatic journalist and personal trainer (which he learnt through the British Armed Forces). Today, he is pursuing his love of visual art as the artistic director of one of the world’s largest private art collections, while also working as a professional artist himself. Despite these achievements, Ahmed does not identify as a polymath. “It is too esteemed an accolade for me to refer to myself as one,” he says. When examining the lives of historical polymaths, he only considered those who had made significant contributions to at least three fields, such as Leonardo da Vinci (the artist, inventor and anatomist), as German language professor my idol Johann Wolfgang von Goethe (the great writer who also studied botany, physics and mineralogy) and Florence Nightingale (who, besides founding modern nursing, was also an accomplished statistician and theologian). Maybe, right now, you think you’re a polymath? Not so fast. Waqas Ahmed argues that polymaths can only be those who made
major contributions to at least three different fields. From these biographies, and a review of the psychological literature, Ahmed was then able to identify the qualities that allow polymaths to achieve their greatness. As you might expect, higher-than-average intelligence certainly helps. “To a large degree that facilitates or catalyses learning,” says Ahmed. But open-mindedness and curiosity were also essential. “So you're interested in a phenomenon but you don't care where your investigation leads you,” Ahmed explains, even if that pushes you to delve into unfamiliar territory. The polymaths were also often self-reliant – happy to teach themselves – and individualist; they were driven by a great desire for personal fullfillment. Many children are fascinated by many different areas – but our schools, universities and t hen employ ment tend to push us towards ever greater specialization. Like any personality traits, these qualities will all have a certain genetic basis, but they will also be shaped by our environment. Ahmed points out that many children are fascinated by many different areas – but our schools, universities and then employment tend to push us towards ever greater specialization. So many more people may have the capacity to be polymaths, if only they are encouraged in the right way. Allow me to go back to my idol Goethe. While polymaths like Johann Wolfgang von Goethe indeed have higherthan-average intelligence, curiosity is essential for anybody looking to broaden their specialisations. Nobel Prize-winning scientists are about 25 times more likely to sing, dance or act than the average scientist. As David Epstein has also reported in his recent book Range, influential scientists are much more likely to have diverse interests outside their primary area of research than the average scientist, for instance. Studies have found that Nobel Prize-winning scientists are about 25 times more likely to sing, dance or act than the average scientist. They are also 17 times more likely to create visual art, 12 times more likely to write poetry and four times more likely to be a musician. It is telling, for instance, that Antheil had previously worked on scores involving synchronized self-playing pi anol as, and toget her he and Lamarr drew on the mechanism of those instruments to come up with their anti-jamming device. Allow me and David Robson to ask you if you feel tempted to live a more polymathic life. Ahmed suggests that you can use your time more efficiently to make space for multiple interests. There is now a growing recognition that, when
concentrating on any complex endeavour, the brain often reaches a kind of saturation point, after which your attention may fade and any extra effort may fail to pay off. But if you turn to another, unrelated activity, you may find that you are better able to apply yourself. Shifting between different kinds of tasks can therefore boost your overall productivity. Switching between different tasks, such as Albert Einstein using music for scientific inspiration, can boost overall productivity and creativity. Wannabe polymaths can use this to their advantage by alternating between their interests – ensuring that they are using their brains at maximum efficiency in each domain, while avoiding wasted effort after they have reached that cognitive saturation point. Albert Einstein, who was an accomplished violinist and pianist as well as a physicist, apparently used this approach. According to his son and daughter, he would play music whenever he faced an intractable problem, and would often finish the performance by saying, “There now, I’ve got it”. It was a much better use of his time than continuing to fruitlessly agonize over the maths or physics. Yes, think it over, we have many advantages compared to the polymaths of the past. The internet, after all, is now full of free online courses in many different disciplines, and it is easier than ever to hook up with an expert teacher through apps like Skype even if they are based hundreds of miles away - as David Robson correctly said. +++ Email: doringklaus@gmail. com or follow me in Facebook, Twitter or Linkedin or visit my www.germanexpatinthephilippines.blogspot.com or www. klausdoringsclassicalmusic. blogspot.com.
Looking... from page 4
and other senior officials. As of this writing, all the criminal cases have been dismissed. As far as the civil cases are concerned, there are lots of them. However, a petition for certiorari, filed in 2011 by BF majority stockholders against BSP, was dismissed by the Court of Appeals in 2012. Banco Filipino has appealed to the Supreme Court where the case is pending.
Another celebrated case was the closure of several rural banks which made up the so-called Legacy Group. A cunning businessman succeeded in buying financially stressed rural banks without informing the Bangko Sentral of the change in ownership. The acquired banks then engaged in very aggressive deposit taking activities by offering rates which were way above market. T h e re af t e r, t h e businessman siphoned the deposits – in the tens of millions - through fictitious loans and transferred the money to a company which he controlled. In this case, the decision of MB to close the Legacy Group banks was unanimous. The BSP and the Philippine Deposit Insurance Corporation (PDIC) filed criminal and civil cases against the businessman, who later died of natural causes during the pendency of the suits. Being sued has become part of the job description of the MBMs and senior management. This was especially true in the case of Governor Nestor Espenilla, Jr.. In his former capacity as chief bank supervisor of the Bangko Sentral, he was subjected to harassment suits not just from shuttered banks but also from some high profile business personalities whose toes he happened to step on. It is very opportune that in the amended charter of the Bangko Sentral, (approved early this year by President Duter te) BSP of f icials, especially examiners, are now provided ample legal protection, unless they are found to have acted with bad faith, malice, gross negligence or gross misconduct. But it is not “all work and no play” at the Bangko Sentral. In fact, Bangko Sentral is one institution which firmly advocates work-life balance. BSP men and women are never late in providing relief to victims of natural calamities and other emergencies. There are all sorts of health, wellness and sports events going on monthly. I participated regularly in practical shooting events, competing with the top guns of the BSP security force. Out of town trips - to inaugurate BSP facilities were something we looked for ward to. During the inauguration of the new BSP
Republic of the Philippines Region X Province of Lanao del Norte Municipality of Kapatagan R.A. 9048 (CFN)
branch building in Legazpi , the members of the MB arrived with their spouses a day ahead of the event. We went sightseeing in the famous Cagsawa Ruins, taking very memorable photos with our better halves. The boys also had a chance to motor, across shallow creeks and narrow bumpy roads, to the foot of Mount Mayon using all-terrain-vehicles. On another memorable occasion, a strong typhoon forced the cancellation of flights to and from Naga where we inaugurated another new BSP building. For the return trip to Manila, MBM Raul Boncan, MBM Alfredo Antonio, MBM Peter Favila and I hired a van. The usual 8 hour trip took us 15 hours. But there was never a dull moment as MBM Favila regaled us non-stop with his jokes. Along the way, we stopped at Milaor, Camarines Sur. We did not stay in Milaor longer than necessary. The MB had just shuttered a rural bank which was based in the town. When everything was going well, tragedy struck the family. My wife, Mira, w a s d i a g n o s e d w it h a progressively debilitating condition which rendered her bed-ridden, deprived of speech, unable to eat orally and to perform her usual activities. I was devastated. The whole family was distressed. I felt that at that point the only place where I should be was at her beside. On January 24, 2014, with only 5 months before the expiration of my 6-year term, I sadly handed my resignation to Governor Tetangco. Thus ended the final chapter of my almost three decades in the public service. Another duty beckoned. Note: Please feel free to share the foregoing via Facebook, Twitter or LinkedIn.
Abaca... from page 2
next few years. The firm will also set up an abaca tissue culture lab orator y and nurs er y to supply its plantation needs. Initially, the nurser y targets at 2,000 plantlets for 1,000 hectares in its
first year of operations and increases as the project expands in the years to come. The plant, which initially employs 107 workers, has a st ar t ing capacity of 12,000 metric tons of abaca fiber at a 10 percent increase annually. A l l pro duc ts w i l l b e exported to China for pulp making through Bloomfield (Xingtai) Specialty Paper Co. Ltd. that supplies pulps to paper mills in China and other parts of the world. Minister Abuamri Taddi k of t he Minist r y o f Tr a d e , I n v e s t m e n t s a n d Tr a d e ( M T I TBARMM) said the region has developed an abaca industr y roadmap focused on Lanao del Sur envisioned to maximize the potential of the areas, empower the labor force through good agricultural practices and alleviate the lives of its constituents. Abaca is known worldwide as the “ M a n i l a H e m p”, w i t h the Philippines as top producer and exporter. The abaca fiber is considered the strongest o f n at u r a l f i b e r s . It i s three times stronger than cotton. Based on the Philippine Fiber Industry Development Authority 2 0 1 8 d a t a , BA R M M i s among the top five abaca producing regions in the Philippines contributing 10.07 percent of the c o u n t r y ’s t o t a l a b a c a production. Lanao del Sur is second to Sulu in abaca pro duc t ion in BARMM and ranks eighth in the countr y. The province has an approximate 5,621 hectares with an average yield of 0.69 metric tons per hectare of abaca production. As a new investment, HK FSH is qualified to avail of fiscal and non-fiscal incentives from the regional government such as income tax holidays (ITH), dutyfree importation on capital equipment and other applicable incentives upon the start of the project’s c om m e rc i a l op e r at i on . (PNA)
ALLAN'S LECHON
Office of the Municipal Civil Registrar NOTICE FOR PUBLICATION
In Compliance with section 7 of R.A. 9048, a notice is hereby served to the public that LUZ LITERATUS PANIS-RETIZA has filed with this Office, a Migrant Petition for Change of First Name from "MARIA LUZ" to "LUZ" in the Certificate of Live Birth of MARIA LUZ LITERATUS PANIS who was born on JUNE 13, 1962 at LOON, BOHOL and whose parents are ALFREDO LUCHANA PANIS and PETRA SORIA LITERATUS. Any person adversely affected by said petition may file his written opposition with this Office not later than 15 days. BWM: November 18 & 25, 2019
(SGD) IVY REYES TONGCO Municipal Civil Registrar
Main: Purok 4 Puerto, Cagayan de Oro City Cell #: 0928-616-4431 / 0905-777-0670 Branch: 31st Nazareth, Cagayan de Oro City Cell #: 0926-594-9540
Free: HALANG-HALANG or DINUGOAN!
Branch: Casinglot, Tagoloan, Misamis Oriental
For orders, please call:
KAG. LOLITA L. WAHING
12
Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
MONDAY|NOVEMBER 25, 2019