BusinessWeek Mindanao (November 5, 2013)

INSIDE LOOK

Tigerair to launch Japan flights in April Corporate World

PAGE 15

Corn farmers press field trial of genetically modified crops Agri-Business

BSP reports soundness of PHL financial system Banking & Finance

PAGE 16

PAGE 17

Paulo Avelino admits dating KC Concepcion

The Xavier Stage to celebrate its 3rd Anniversary Billboard

MINDANAO DAILY NEWS SECOND SECTION

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Fun Page

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Tuesday - November 5, 2013

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Briefly Nutrition awardee OZAMIZ City – The city government of Ozamiz is set to receive the 2012 Nutrition Honor Award (NHA) with a cash prize of P500,000, from the National Nutrition Council (NNC) at the the Philippine International Convention Center (PICC), today (Nov. 5).

The NNC confers the NHA to local government units (LGU’s) with exemplary performance in nutrition program management and has sustained reduction of prevalence of under-nutrition for both preschool and school children for six (6) consecutive years.

This was confirmed by Maria Bernardita T. Flores, Assistant Secretary of Health and NNC Executive Director, in her letter, dated Oct. 8, 2013, to Mayor Reynaldo O. Parojinog, Sr., of Ozamiz City inviting him to receive the award and the cash prize at PICC in Pasay City, at 1:00 p.m., Tuesday, November 5, 2013.

Dirty market A CAGAYAN de Oro City councilor on Monday has criticized the “dirty” condition of the public markets that might compromise the health of local residents here.

City Councilor Adrian Barba made a special report to the City Council about the unsanitary condition of the public market in Carmen, one of the largest public markets in the city, caused by filthy and stagnant water.

He said that the unsanitary condition of the Carmen Market, especially the meat, fish and vegetable sections might be the source of leptospirosis to the public.

The “Medical News Today” said that leptospirosis is a bacterial infection usually transmitted to humans when people with unhealed breaks in the skin, come in contact with the water or soil that has been contaminated with animal urine especially that of the rats.

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‘Fish kill’ in MisOr alarms residents

TAG OLO -A N, M isa m is Oriental -- Hundreds of fish floated on the shorelines of Tagolo-an due to “poisoning” f r o m t h e e f f lu e nt s o f damaged copra dumped near the coastline there, local officials said.

G o v e r n o r Ye v g e n y Vincente Emano of Misamis Oriental on Sunday ordered a probe of the “fish kill” where fish of varied species were seen floating shortly before midnight last Wednesday.

Officials from the Bureau of Fisheries and Aquatic Resources (BFAR) rushed to the area Wednesday night to investigate the cause of the “poisoning.”

Residents in Baluarte,Tagolo-an alleged that the poisoning could ASIK-ASIK FALLS. Tourists enjoy the cold and crystal-clear waters of Asik-asik Falls on Nov. 2 in Sitio Dulao, mindanews photo by roel n . catoto have been t r ig gered by Barangay Dado, Alimada town in North Cotabato. the poisonous eff luents of damaged copra reportedly dumped in the area by a copra oil processing mill from Iligan City. alarms/PAGE 23

Chinese power firm wins bid to rehabilitate Agus 4 complex AFTER several postponements in t he bidd i ng pro c e s s , t he rehabilitation of the stateowned Agus 4 hydroelectric complex can now proceed with the Chinese firm Guangxi Hydroelectric C on s t r uc t ion Bu re au posting the lowest bid during the auction by Power Sector Assets and Liabilities Management Corp (Psalm).

“Usi ng t he nond iscret iona r y cr iter ia agus/PAGE 23

High tax cited for drop of gold sale

D

By CARMELITO Q. FRANCISCO Correspondent

AVAO City -- A Bangko Sentral ng Pilipinas (BSP) official here said a high tax on small-scale miners and traders introduced two years ago resulted in the decline in gold sold to the government in the Davao Region.

In 2011, the Bureau of Interna l Revenue (BIR) imposed a 10% tax rate on creditable withholding tax.

This was eventually reduced to the present 7%, but on top of that, the government also imposes a 2% excise tax on gold.

Even with the reduced tax rate, the gold volume that went to the bank in 2012 was significantly small, 180 kilograms compared with what the bank bought in 2010, the year before the new taxation schedule was gold/PAGE 23

Mindanao Daily NEWS

LOW GOLD TURN-OUT. Goldsmith Rick Mendoza repairs jewelry at his stall along Ilustre Street in Davao City. The high tax imposed on small-scale gold miners and traders had been cited as the cause of lesser volume of gold sold to the government. mindanews file photo by ruby thursday more

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Economy

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Biggest SMC shareholder seeks regulatory approval to stock market listing SAN Miguel Corporation’s (SMC) largest shareholder is seeking Securities and Exchange Commission (SEC) approval to register shares that will be listed on the Philippine stock market by way of introduction.

In a notice published in a newspaper, Top Frontier Investment Holdings Inc said it filed a prospectus with the SEC for the registration of 490.196 million common shares with a par value of P1 per share, including 240.196 million shares that have

been declared as property dividends by the diversified conglomerate.

SMC shareholders as of November 5 will be entitled to one common share of Top Frontier for every 10 held.

SMC president Ramon S. Ang had said the declaration

of Top Frontier shares as proper t y div idends w ill address cross-holding issues.

Top Frontier directly owns 56.6073 percent of SMC and another 9.4963 percent lodged with the Philippine Depository & Trust Corp.

The conglomerate, in turn, roughly owns 49 percent of Top Frontier, with the balance controlled by a group that includes former trade minister Roberto V. Ongpin, market/PAGE 21

BUSINESS AS USUAL. For this cotton candy vendor, All Souls’ Day is not just for remembering the dead but also an occasion to earn more money at the Shepherd’s Meadow Cemetery in Malaybalay City. mindanews photo by alexandria m . mordeno

Imported Christmas lights Budget deficit down by 43% in Sept found positive for lead 10 samples with highest lead levels identified Toxic chemicals such as lead were discovered by an environmental group on Monday to be present in some Christmas lights sold in bargain retails in Divisoria, Manila, and Monumento in Caloocan City.

The EcoWaste Coalition said in a statement that out of the 20 sets of imported holiday light strands they a n a l y z e d , 16 o f t h e m exceeded the limit for lead in electrical and electronic products in the European Union (EU).

Levels of lead in the samples range between 2,689 parts per million (ppm) to 32,500 ppm, way above the limit of 1,000 ppm under the EU Directive on Restriction of Hazardous Substances

(RoHS).

The group has warned the public from purchasing these Christmas lights from budget retails and advised them to check product labels before buying them.

Consumers needed to be very cautious when buying holiday lighting chains as t hey might contain not just lead but can also be responsible for causing “burns, electric shock, fire and chemical exposure”, the group said.

EcoWaste added that broken or spent Christmas lights loaded with toxic chemicals further contribute to the growing volume of hazardous discards that are often mixed with trash.

Thony Dizon,

Coordinator of the EcoWaste Coalition’s Project Protect lamented that that cheap, lead-containing imported holiday lights that could not enter the EU market are being dumped in the Philippines. “ I t ’s o b v i o u s t h a t ma nu fac t u rers of poor quality lighting chains and other electrical and electronic products are profiting from our lack of a RoHS-like policy at the expense of our people’s health and safety,” Dizon said.

None of the 20 samples had complete product, chemical, energy and safety labeling information, and many did not bear the required Import Commodity Compliance Certificate (ICC) holographic sticker, the group noted.

The ICCC is the Philippine Standard mark for locally manufactured lights.

EcoWaste has notified the Department of Trade and Industry about its findings a nd specif ica l ly soug ht assistance in va lidating the authenticity of the ICC st ickers in some of t he samples.

The 10 samples with the highest lead levels include: 1. A “Decor Lights” with green wire and red, yellow and green LED bulbs and angel-like hanging ornaments on a rectangular brown and yellow box had 32,500 PPM 2. A “Seven Star” Christmas lights with black wire and white bulbs on a blue box with image of Snowman lead/PAGE 21

MANILA – The National Government has narrowed budget deficit for September 2013 by 43 percent to P18.6 billion from P32.8 billion deficit in the same month last year.

T he D e p a r t me nt of Finance (DOF) reported Wednesday that lower budget shortfall for September was pushed by 21 percent climb on government revenue in the previous month which posted at P127.3 billion from September 2012’s P105.3 billion.

Likewise, government spending went up by 6 percent for the same month reaching a total of P146 billion from last year’s P138.1 billion.

In effect, the national government’s budget deficit for January to September

2013 recorded P101.2 billion shortfall which is below the P144.5 billion-ceiling for the first nine months of the year.

This year’s nine monthshortfall also went down three percent compared to last year’s same period budget shortage of P103.9 billion.

“The September report shows an even healthier picture of Government fiscal performance as our revenues posted a strong increase over last year’s collections.

Coupled with strong growth in our expenditures over the first nine months of the year, we can see that the dynamism of our operations has yet to wane even as we approach the last quarter of 2013,” said DOF Secretary Cesar Purisima. (PNA)

BSP reports soundness of PHL financial system MANILA -- The Philippines’ financial system remains stable and strong in the first half of 2013, the Bangko Sentral ng Pilipinas (BSP) said Monday.

In its Status Report on the Philippines Financial System as of end-June 2013, the central bank noted the 16.2-percent year-on-year expansion of domestic banks’ resources to P8.6 trillion.

The rise in banks’ resources was boosted by the 12.3-percent rise of loans, which in turn was driven by

the 18.3-percent increase in deposits during the sixmonth period.

“These financial intermediaries also posted a 60-percent growth in net profits at the end of the first semester,” the central bank said.

The BSP said domestic banks account for 80 percent of the Philippines’ financial system.

As of end-June 2013, there are a total of 683 operating banks in the country with BSP/PAGE 21

Holcim profit up 34.2% in Q3 MANILA -- Profit of cement ma nu fac t u rer Holc i m Philippines expanded 34.2 percent in the third quarter of the year, bolstered by the continued strong public and private demand.

Holcim said its net income reached P691.2 million from previous year’s P514.98 million, also on stable prices despite the traditional lean period.

The company attributed the higher profit to its continuing revenue growth, cost management efforts and efficiency initiatives.

“The robust construction activities again pushed demand to outperform our expectation in the third quarter,” said Holcim Philippines chief executive officer Ed Sahagun.

Third-qua r ter sa les revenues grew by 7.4 percent to P6.9 billion from P6.4 billion last year as demand and prices remained steady with both the private and public sector pushing ahead with projects.

The company’s ninemonth revenues grew by Holcim/PAGE 21

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CorporateWorld

Finnish engineers discover there is life after Nokia TAMPERE - The decline of Finnish mobile phone manufacturer Nok ia has encouraged a whole generation of local engineers to venture on a new and risk ier pat h: t hat of entrepreneurship.

Housed on the top floor of a building located on the main avenue of the southern city of Tampere, the office of local start-up TreLab exudes ambition and optimism.

“We just sent our first five-figure invoices. It feels good!” 44-year-old chief executive Kimmo Saarela said.

T his former Nok ia employee joined fou r col leag ues to create i n December 2011 a start-up specia lizing in w ireless measurement devices which can be used in sectors such as health care, logistics, and personal wellness and training.

“Even if I sometimes miss the comfort of a regular salary and the job security provided by Nokia, I feel freer here. One can make decisions quickly, without goi n g t h rou g h a l l t he bureaucracy of a big firm,” he said.

In the early 2000s, when Nokia reigned supreme in the global mobile phone market and contributed four percent to Finland’s gross domestic product, the job security

offered by the company had no match.

“When you were a Finnish engineer starting at Nokia, you knew you would leave Nokia only when retiring.

Your f uture was clea r,” recalls Tommi Uhari, who left his management position to found Uros, a mobile wireless Internet provider for international travelers.

Everything changed when the financial crisis hit and Nokia fell behind in the smartphone race after Apple launched its first iPhone in 2007.

Trapped in a failure spiral, Nokia started to lay off whitecollar staff and ended up agreeing in September to sell its mobile phone division to US giant Microsoft for 5.44 billion euro ($7.5 billion) in a move considered by local media as “the end of an era for Finland.”

When it began to need to downsize a few years

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back, the firm launched an uncommon initiative named the Nokia Bridge program, through which it helped its former employees to create their own companies.

TreLab, t he Ta mpere start-up, benefited from the program, which allowed former employees to leave the company with up to 20,000 euros ($27,573) each.

Some eng i neers, t he founders of TreLab among them, even got the right to use certain technologies they had developed at Nokia without having to buy any expensive patents.

“Without this support, we probably wouldn’t have been able to create our company,” Saarela said.

‘People are ready to take risks ... do what really excites them’ According to Nokia, more than 1,000 start-ups had access to the Nokia Bridge Nokia/PAGE 21

Tigerair to launch Japan flights in April T IGE R A I R Ph i l ippi ne s plans to increase its market share by at least 10 percent with the acquisition of more aircraft next year.

“I wa nt to have a managed growth next year,” Olive Ramos, president and chief executive of Tigerair Philippines said.

“Maybe we could achieve eight percent to 10 percent growth. When I started, our market share is only three percent, but now our market share is five percent,” she said.

R a mos sa id Tigera i r

plans to f ly to Kansai and Narita in Japan by April next year as well as to Macau and Shenzhen in China. It will

also revive its Manila-Davao and Clark-Davao f lights by December 4. tigerair/PAGE 21

SM Prime’s profit up 14% to P8.4-B PROFI T of shoppi ng mall developer SM Prime Holdings, Inc. expanded 14 percent in the first nine mont hs of t he yea r on the back of higher rental revenues.

In a statement to the Philippine Stock Exchange (PSE), SM Prime said its net income reached P8.43 billion from P7.40 billion in the same period last year.

Gross revenues also grew 12 percent to P24.77 billion from P22.10 billion.

Rental revenues, which accounted for 85 percent of total revenues, rose 12 percent to P20.94 billion due to rentals from new SM Supermalls opened in 2012 and 2013.

The five malls in China contributed P2.17 billion in 2013, or nine percent of total consolidated revenues.

Excluding the new malls and expansions, same-store rental growth was at seven percent.

“We continue to exceed o u r e x p e c t a t i o n s . We expect to sustain our strong performance as we approach the year-end especially as the Christmas season has been, tradit iona l ly, our strongest period,” said SM Prime President Hans T. Sy. Sy said the company’s robust performance in the first three quarters of the year is a testament to the strength of consumption driven by the increase in overseas

Filipino workers remittances and the continued growth of t he business process outsourcing.

SM Prime has 47 Superma lls strategica lly located in the Philippines with a total gross floor area of about six million square meters (sqm).

SM Prime is scheduled to launch this month SM City BF in Paranaque.

Bui lding D in SM Megamall will be opened to the public in December 2013.

By year-end, SM Prime will have 48 malls in the Philippines and five in China with an estimated combined gross floor area of 7.0 million square meters. (PNA)

tigerair/PAGE 21

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AgriBusiness

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Corn farmers press field trial of genetically modified crops CORN farmers have demanded that the government continue the field trials of genetically modified (GM) crops under Executive Order (EO) 430, a regulatory system which they said is “so strict” that it prohibits the commercialization of GM crops that do not pass Philippine standards.

Philippine Maize Federation Inc. (Philmaize) noted that EO 430 made the Philippines the first Southeast Asian country to issue a regulatory system on GM crops. It was supported

by Administrative Order (AO) 8 of 2002 and EO 514 of 2006.

AO 8 p r o v i d e s f o r guidelines on the release to the environment of plants derived from biotechnology crops. EO 514, meanwhile, e st abl ished a bios a fe t y framework that observes strict scientific standards a nd i nt er n at ion a l b e s t practices on biotechnology crops production.

In a resolution during the National Corn Congress held in Tagaytay City, Philmaize asked President Aquino to support the regulatory

process administered by the National Committee on Biosafety of the Philippines.

EO 4 3 0 c re ate d NCBP, which regulates all field trials of GM crops in the Philippines.

Corn farmers want the f ield t r ia ls on Baci l lu s thuringiensis (Bt) eggplant and Golden Rice to continue e v e n a s t h e C ou r t o f Appeals (CA) issued a writ of kalikasan banning such trials in September.

The CA’s decision was issued even as the Food and Drug Administration (FDA) vouched for the safety of GM food products.

“The Philippine government, through the FDA, reiterated that a ll GM food products in the market have passed safety assessment based on the

Codex Alimentarius risk analysis. These have met international food-safety standards and are as safe as and as nutritious as the food derived from conventional crops,” Philmaize said. The group said GM crops have been found globally to be safe in all of 15 years of use as feed and food.

Philmaize said a case in point is Bt corn, which was commercialized in 2002 in spite of the spirited opposition of Greenpeace, which failed to convince authorities that the GM crop would harm

humans and contaminate traditiona l egg pla nt varieties vulnerable to pests and diseases.

Bt corn is now planted on 730,000 hectares of farm lands in the country and has been largely credited for making the Philippines self-sufficient in corn.

T he g roup s a id t he government should support the use of GM crops in its aim to achieve the United Nations Millennium Development Goals, which include the reduction or elimination of hunger.

DA notes Europe’s rising demand for coco coir DAVAO City -- There are still many opportunities in the coconut industr y including t he European market which has an increasing demand for coco coir and other coconut byproducts.

“C o c o c o i r a n d i t s pr o d u c t s h a v e a hu g e demand in European Countries, particularly in Netherlands,” Department of Agriculture 11 director Remelyn Recoter said.

The annual demand for coir yarn in Western Europe is about 28,000 metric tons while its demand for coir rope is about 26,000 metric tons, she added.

Recoter said Germany, the United Kingdom and the Netherlands also have high demands for coco coir, estimated at four million

do or m at s a nd 15 0 , 0 0 0 square meter of coir f loor coverings.

“C oi r h a s a u n iqu e physica l & technica l characteristic that are highly desired in the manufacture of new industrial products for construction a nd engineering,” she said.

It is also in demand for the fishing industry since it is buoyant, resistant to bacteria a nd sa lt water, making it suitable as marine cordage a nd for use i n commercial marine culture.

She said car ma nu fac t u rers i n t he European Union, Japan and Korea need 137,000 metric tons of rubberized molded coir every year. Recoter said coconut is no longer just a source of food and drinks for the whole world.

Aside from its popularity as a source of coco sugar, virgin coconut oil and base for cosmetics, she said, coconut is also becoming popular in horticulture for mulching and soil treatment medium, soil conditioner and substrate. The coconut methyl ester and engine oil is being used locally as an alternative to diesel.

Recoter said farmers in the Davao Region should t a k e a d v a nt a ge of t he growing world demand for coconut considering that it remains the top producer of coconut in the whole country for the last five years from 2008 to 2012.

The Davao Region has a coconut production of 2,671,203.34 metric tons (MT) in 2008, 2,691,904.84 MT for 2009, 2,635,866.63

MT for 2010, 2,627,248.20MT for 2011 and 2,720,232.61 MT for 2012.

T h i s i s fol lowe d by Northern Mindanao with a coconut production of 1,745,949.54MT in 2011 and 1,816,601.41MT in 2012 and

by Zamboanga Peninsula with coconut production of 1,557,621.30MT in 2011 and 1,730,428.16MT for 2012.

Recoter however ad m it te d t h at c o c onut production in the region has f luctuated from 2008 to 2011 because of cyclical change and a reduction in areas harvested.

The destruction of up to six million coconut trees in the region due to Typhoon Pablo in December 2012 is also expected to affect this year’s total coconut production. (PNA)

Government to establish P100-M halal laboratory THE government is c o n s t r u c t i n g a P 10 0 m i l l ion laborator y t hat is capable of testing t he DNA of fo o d pro du c t s in its bid to position t he Ph i l ippi ne s a s a m ajor producer of ha la l food.

T he Depa r t ment of Science and Technolog y (DOST) said the gover n ment i s ke en on helping loca l producers ta ke adva ntage of t he globa l market for ha la l.

“One of t he u rgent projects of t he DOST is t he e s t a bl i s h me nt of a nationa l laborator y t hat c a n ident i f y m i n i s c u le haram or materia ls t hat are harmf u l to t he body

a nd c a n b e re c og n i z e d

by Mu s l i m c ou nt r i e s ,” Science Undersecreta r y Carol M. Yorobe said.

The Philippines has yet to be officially recognized

by Muslim countries as a “ ha la l food-capable producing nation.”

“Even w it h t he many food products available in groceries w it h dif ferent halal logos, the consumers shou ld be aware t hat t he ha la l industr y is largely u n reg u lated , a nd t here is no ex ist ing of f icia l body in t he countr y t hat can really certif y food as ha l a l,” D OS T Re g iona l D i re c tor H aja Z e n a id a Abdu l Raof Laiban said.

Laiban noted that some canned goods ma nufactured in t he Philippines were banned i n Musli m cou nt ries as they contained materials t hat were not ha la lcompliant.

The DOST of f icia l said t his is “ lamentable” c on s id e r i n g t h at t h e re are ma ny Phi lippine companies t hat are keen o n v e nt u r i n g i nt o t h e ha la l food business. “ We r e q u e s t e d t h a t t he ha la l laborator y be constructed in Koronadal City, so we can tap Filipino Muslims who will ensure the quality of halal foods,” Laiban said.

O ne re qu i re me nt of ha la l food produc t ion is t hat a non-Musl i m company or owner should employ Muslims in t heir facilities, Laiban said. “ This is t he reason we ne e d a s i n g le b o d y in t he countr y t hat can confer cer tif ication, and the Islamic communities, i nclud i ng i nter nat iona l companies, prefer government bodies that will give halal certification,” she added.

A senate bill authored

by S en . C y nt h i a Vi l la r seeks t he creation of t he Phi lippine Ha la l a nd Regulator y Board to answer t his need.

Banking&Finance 11% hike in individual BSP reports soundness taxpayer’s share seen of PHL financial system Mindanao Daily 17 NEWS

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THE Bureau of Internal Revenue (BIR) expects taxes from individual taxpayers to increase by 11.3 percent next year on the back of the government’s intensified drive against tax evaders.

Data from the Department of Finance (DOF) showed that the BIR, government’s main tax agency, is looking at collecting P293.78 billion in individual income taxes next year from P263.85 billion this year.

Individual income taxes account for over a fifth of the BIR’s tax collection annually.

The bulk of government’s i nd i v idu a l i nc ome t a x

c ol le c t ion c ome s f rom salaried individuals whose ta xes a re automat ica l ly w it h held by employers while income tax collection from professionals such as doctors and self-employed businessmen pay less than P20,000 annually.

But the BIR is hopeful that the agency’s Run After Tax Evaders program will continue to encourage people to be vigilant and report those who do not file and pay the correct taxes.

Finance Secretary Cesar V. Purisima had already warned individual taxpayers hike/PAGE 21

BA NGKO S e nt r a l n g Pilipinas (BSP) Governor Amando M. Tetangco Jr. said Philippine banks, especially the big players, face a choice of competing regionally but they need to prepare for this and the central bank’s reforms ensure that they will be.

Tetangco refers to the l i n k ups of t he reg ion’s banking community known as t he ASEAN Ba nk ing I nteg rat ion Fra mework (ABIF) which will begin in 2015. After this, by 2020 the trade bloc’s banking

i ndu s t r ie s wou ld h ave reached semi-integration.

“While this is six years aw ay, t he wor k u nd e r ABIF is well under way,” Tetangco said during the recent Asian Banker’s third annual banking conference in Manila.

“Banks can choose to retain a domestic focus or choose to become a regional player. However you position your bank, be aware that either of the two choices has critical competition policy consequences,” he added. “If Banks/PAGE 21

Big banks can pursue regional expansion under Asean framework

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THE Philippines’ financial system remains stable and strong in the first half of 2013, the Bangko Sentral ng Pilipinas (BSP) said Monday.

In its Status Report on the Philippines Financial System as of end-June 2013, the central bank noted the 16.2-percent year-on-year expansion of domestic banks’ resources to P8.6 trillion.

The rise in banks’ resources was boosted by the 12.3-percent rise of loans, which in turn was driven by the 18.3-percent increase in deposits during the sixmonth period.

“These financial intermediaries also posted a 60-percent growth in net profits at the end of the first semester,” the central bank said.

The BSP said domestic banks account for 80 percent of the Philippines’ financial system.

As of end-June 2013, there are a total of 683 operating banks in the country with 8 , 86 0 br a nche s , 13,129 automated teller machines (ATMs), 391 microfinance banking offices, and 212 b a n k s w it h e - b a n k i n g services.

Similarly, the report said banks’ asset quality remains intact despite the increase of loans extended by these financial institutions as the non-performing loans as of last June at 3.3 percent of banks’ total loan portfolio (TLP).

Ba n k s rema in wel l capitalized during the said period as capital adequacy ratio (CAR) stood at 18 percent on solo basis and 19.3 percent on consolidated basis.

The sector’s Tier 1 capital, which is a core measure of a bank’s financial soundness,

remains strong as it stood at 16.5 percent on solo basis and 16.8 on consolidated basis.

Ba n k s cont i nue to introduce innovations on how to widen their reach and the central bank said it “continues to widen financial access points under a defined financial inclusion strategy.”

Relatively, the BSP said that aside from banks the financial institutions with quasi-banking functions, non-sto c k s av i ngs a nd loan associations and other centra l bank-accredited non-b a n k i ng f i na nc i a l

institutions (NBFIs) “also performed well” during the same six-month period.

“Key performance indicators for these NBFIs ref lected strong balance sheets and sustained prof itabi lit y during t he period,” he said.

The central bank said “the BSP continues to be vigilant against potential pressure points” amid the sustained strength of the country’s financial system.

“This is in line with the BSP’s objective of promoting financial stability,” it added.

(PNA)

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by HOBART SAVIOR

Courses needed for the world is flat

T

homas Freidman’s metaphor of the flatness of the world signals vastness and abundance of resources and equal opportunities. It is said that the world is a level playing field as it defines globalization in the 21st century.

Thomas Friedman calls this as Globalization 3.0 which means the flattening of the world is caused by “the convergence of personal computers with fiber optics micro cable and the rise of workflow software.”

Friedman, in his book, suggests that individuals remain competitive in the global market by constantly updating oneself with competitive knowledge and “learn new ways of doing old things or new ways of doing new things” since most of the jobs now can be carried out by digital machines, automation and complemented and provided through outsourcing, open sourcing among others.

Therefore, individuals who know less about digital technology should start stepping on the level playing field of the digital world.

I suggest the following courses

must be added and offered as open subject or courses: Basic or Introduction to Information Technology; Four Macro Language or Communication Skills in Multimedia Discourse; Visual Communication; Knowledge Management; Cultural Education and Arts Management.

Introduction to Information Technology and Visual Communication must be offered as a general subject.

Most of the subject areas now require students to come up with multimedia presentations and graphic designs for reports and even for final projects.

With Information Technology, students or individuals will learn how to do database management, web designing and management.

Thus, the basics or even core technical lessons are essential to equip students or individuals to be digitally competitive.

The teaching of language and communication (both in English, Filipino and the Regional Languages) must be updated with the use of multimedia discourse approach.

This means that writing, speaking, reading and listening must be taught interactively through the use of computer technology.

One very interesting field that individuals must learn is Knowledge Management.

This is a type of management that requires critical handling of programs and projects from its conceptualization, planning, and implementation.

Knowledge Management is also used to check and balance the utilization of recourses, both tangible and intangible, for the strategic realization of the goals and objectives of a program or project.

With Knowledge Management, an individual is expected to maximize an input to come up with high impact outputs and outcomes without being wasteful.

Also, this skill allows an individual to package logically, promote effectively, and implement successfully his or her programs and projects as they are aligned to an institutional goal or objective.

Lastly, I believe that when the world becomes horizontal with equal opportunities, the more it is

very necessary to offer culture and heritage education.

We may be global, but being global is by presenting and representing what is culturally ours.

The digital world can never replace what is intangibly labeledour sense of identity. Aligned with this is Arts Management. It is imperative to say that even in this digital age or post modern age, art lives as it is a reflection of our humanity, culture, and identity as a people.

With art management, individuals are engaged in the appreciation, preservation and promotion of art which is one of the mirrors of culture and its understanding.

Both cultural education and arts management flower forth projects and programs not only for local cultures but also for global understanding through inculcation of the culture of culture, culture of fine arts that will help us see what beauty and truth bring in our lives, and the cultural promotion and understanding that will facilitate us in our quest and hope for peace.

HEALTH IN FOCUS

by DR. MARY JEAN LORECHE

O

nce a year, the busiest place, all over the country (with CDO not an exception), are the cemeteries. It is that time of the year that we visit and spend time with the departed people very close to our hearts.

Where before, resting places were but ordinary, uneventful and quiet, these days, they have become gardens, beautiful and even boasts of architectural designs.

Rich or poor, educated or not, young or old, the call to rest is no respecter.

Thus, at some point of these our borrowed lives, we each must have experienced the loss of a beloved person.

It is in losing that one gets nearer to the truth of one’s mortality.

But more than this, it’s the going through life in the absence of one’s spouse

Anniversary Reactions or child or parent or any person that must have made a difference in one’s life, whether good or bad.

Mind Specialists (they may differ partially on certain thoughts, which are but natural even in the world of medicine), through various studies and observations, has written down the different stages of mourning that one goes through in the event of a loss: denial, anger, bargaining, depression, and eventually acceptance.

But, the thing is, I don’t think that everyone really goes through all the stages, in that order, as grief in itself is not something that is linear nor is it dictated upon by certain standards or norms.

Simply put, one’s experience as he/she grieves for his/her loss may not be similar to another person.

It may be unique to that particular individual.

There is no such thing as one package good for one good for all!

The painful emotions one is feeling varies as well as that period of time of mourning.

It is not uncommon too for one to feel better after a while, and then feel so rotten and hellish the next day.

Guilt is more difficult though to address, if one knows that he/she should have done something more to stop the demise of the person.

As we keep saying, time has a way of healing all sorts of losses and pains.

But, there are truly some who are into a more complicated kind of mourning, which is also known as pathological or unresolved grieving.

A person may suffer from this complicated type of grief if the death of the loved one is traumatic- like in cases

of suicide, homicides or accidents.

Another predictive factor would be the kind of relationship one had with the departed person- if the dead and the living enjoyed a very close relationship, add to it the absence or lack of emotional support from the rest of the family members, it will come as no surprise that the process may take longer than the rest.

This is actually very similar to the patients and family members I get to see during times of great stress: when a diagnosis for a terminal illness is handed down, the patient (usually) goes through these stages in varying degrees and length of time.

There are signs of incomplete mourning which should alert the person or the family members, for in recognizing them, may

mean the need for seeking professional help.

Depression, anxiety, difficulty in concentrating in one’s studies or work and even the inability to feel pleasure again, are but a few of the things to watch out for.

Some of those who grieve would rather want to do the mourning in private while others may need a listening ear and a shoulder to cry on.

There are professionals (Psychiatrists) who are always there, too, to help bring the resolution of the process, in cases of difficulties.

The meaning of life becomes more defined as one is cognizant of his/her mortality, and in so doing, becomes more giving and accepting of the people around him/her. For life is but a gift from the Creator, to be used for mankind’s good...

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The

CAGAYANTIMES de Oro

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Editor : Shaun Uy, E-mail: shaun_alejandrae_uy@yahoo.com

The Xavier Stage to Celebrate its 3rd Anniversary with Titus Andronicus

by Jerry P. Acido Jr., Contributor

T

he Xavier Stage, a resident repertory company of Xavier University, presents William Shakespeare’s Titus Andronicus as adapted by Layeta Bucoy on December 4-8, 2013 at the Xavier University Little Theater. Directerd by Hobart P. Savior, this is TXS’s second production for its 3rd Theatre Season titled Realizing Shakespeare and also serves as the company’s 3rd anniversary production.

The company embarks on the promotion of Shakespeare’s classic adapted in the Philippine contexts for cultural understanding. Titus Andronicus deals with hunger for power and revenge as made present through the extreme issues in the current Filipino society including political dynasties, clan wars and massive killings. This project is part of the formation and art appreciation targets through the Artistic Excellence: Drama Program of Xavier Center for Culture and the Arts.

Titus Andronicus stars Samuel Macagba III as Ricardo “Carding” Muñoz, Sheena Marie Lopez Pagtalunan-Sale as Clarissa Castillo, Rosell Velez as Armando Torres, Ismael Barrios Salarda as Chua, Arnie Daluz as Roberto “Berting” Muñoz , Carl Manere as Antonio Torres, Micka Angela Victoria Virtudazo as Salve Muñoz, Euljun Salarda as Ryan Muñoz, Noli Paglinawan as Richie Muñoz, Kenneth Sabijon as Ram Muñoz, Reynald Mangao as RJ Muñoz, James Elvie Ty as Nomer Castillo, Jason Limbaga as Nathan Castillo, Nell Obach and Faith Elvie Lofranco Silmonet as Maria Aragon, Jerry Acido as Pulis 1, Junmar Ybañez as Pulis 2 and Franz Cabigas, Keith Testa, Oskar Viado, Lovely Jane Olaer, Gladys Valle and Bettina Rabe as taong bayan. It also features guest artist Junnie Dwight Dalmacion as Clown. Mr. Dalmacion is a former TELUN artist (one of the theater companies of XU in the late 1980’s) and an alumnus of XU. The Xavier Stage will restage Layeta Bucoy’s Doc Resureccion as a fringe entry in the Ateneo Theater Festival on November 21, 2013. This is in celebration of the 25th year of Dulaang Atenista. The company’s adaptation of William Shakespeare’s A Midsummer Night’s Dream is also featured in the Xavier University Festival Days on November 27 and 28, 2013.

For ticket reservation, The Xavier Stage can be reached through the XCCA office at 858.3116 local 2059. Tickets are sold at the XU Bookstore for only Php100.00 for the Premiere Night show on December 4, 2013 at 7:30PM and Php75.00 for Morning Matinee show on December 8, 2013 at 10:00AM, Matinee shows on December 4, 7 and 8, 2013 at 3:00PM and Gala shows on December 5-8, 2013 at 7:30PM. Details for tickets of A Midsummer Night’s Dream will be announced soon.

Bohol receives help from NGCP

D

evastated by the 7.2 magnitude earthquake two weeks ago, Bohol province is slowly getting up on its feet and recovering from the disaster, thanks to the many donors who readily sent donations and relief goods to the different evacuation centers in the province.

The country’s sole electric transmission service provider, National Grid Corporation of the Philippines (NGCP), is one of the companies who immediately reached out to the earthquake victims.

“As soon as it is safe for our people to mobilize, we organized relief operations for Boholanos who badly need food and water,” said Mr. Nelson Cabangon, Head of NGCP’s Corporate Affairs Department.

NGCP gave out 7,000

relief goods last October 24 and 25 to ten municipalities – Danao, A ntequera, Maribojoc, Tubigon, Calape, Loon, Cor tes, Corella , Sagbayan, and Carmen. The relief operations were done in close coordination with the Municipal Social Welfare and Development offices to help identify priority families and individuals.

NGCP’s partner-customer Bohol Electric Cooperative I (BOHECO I) assisted in packing and distributing relief goods.

Because of difficulty i n la nd t ra nspor t at ion, NGCP used its helicopters to deliver the relief goods to the municipalities. “We exhausted various means to efficiently distribute the goods. We used our chopper and line trucks to expedite the deliver y to the ten

municipalities,” stated Mr. Cabangon.

Bohol is host to 250 circuit kilometers of 69-kilovolt (kV) transmission lines and three substations of the grid operator. NGCP is also constructing a new 138-kV backbone in the island.

NGCP is a privatelyowned corporation in-charge of operating, maintaining, and developing the country’s power grid. It transmits highvoltage electricity through “power superhighways” that include the interconnected system of t ransmission lines, towers, substations, and related assets. As a corporation with a public service orientation, NGCP supports the communities hosting its transmission facilities, which it considers With the help of local military units, NGCP sent the relief goods to far-flung as a true partner in nation- municipalities via helicopters. Each relief pack containing 10 canned building. goods and 3 bottles of water were distributed last October 24 and 25.

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

Editor : Cheng Ordonez, E-mail: cheng.ordonez@gmail.com

Environment

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Gov’t seeks more private wildlife conservation partners Protected Areas and Wildlife Bureau (PAWB) is urging the private sector to increasingly help conserve wildlife species in biodiversity hotspot Philippines and gain tax incentives for doing so.

PAW B e c o s y s t e m s m a na gement s p e c i a l i s t a nd Phi lippi ne Raptors C on s er v at ion P rog r a m project leader Anson Tagtag said the private sector can undertake such tax-perked mission by joining t his agency’s Adopt-a-WildlifeSpecies (AAWS) Program. ” Bio d iver sit y conser vation must be a collective effort of society,” he said.

He noted the Philippines is mega-diverse with over 20,000 plants and animals endemic to t he countr y but habitat destruction, unsustainable resource use, poaching and the illegal wildlife trade as well as

pollution and onslaught of invasive alien species that are putting biodiversity nationwide in peril.

Tagtag said so far, only cement giant Cemex and geothermal power leader Energ y Development Corporation (EDC) joined AAWS since PAWB’s mother a genc y D e p a r t ment of Environment and Natural Resources (DENR) established this program in 2010.

Government needs more private partners as it lacks resources to solely undertake biodiversity conservation and protection nationwide, Tagtag said.

The country has over 220

faunal and 600 floral species facing possible extinction but less than 10 of these – including the critically endangered ‘tamaraw’ have their own government conservation programs, he noted. ”We therefore came up with AAWS to encourage private sector support for biodiversity conservation,” he said.

In Ju ne 2010, DENR issued Department Ad minist rat ive Order (DAO) 2010-16 establishing AAWS to strengthen publicprivate partnership on in-site biodiversity conservation so specie extinction can be prevented.

A AW S c o v e r s a l l ter rest r ia l a nd wet la nd areas nationwide as well as wildlife species under DENR’s jurisdiction. wildlife/PAGE 23

Caretaker Mario “Puroy” Entrolizo coaxes Philippine Eagle named Mindanao to spread its wings at the Philippine Eagle Center in Davao City in this file photo. The Protected Areas and Wildlife Bureau encourages the private sector to undertake tax-perked mission by joining the agency’s Adopt-a-Wildlife-Species Program. mindanews photo by ruby thursday more

quake Strict garbage collection key 6.0hitmagnitude S. Philippines to successful waste mngt PALOMPON, Leyte -- Leyte board member Mesias Arevalo attributed the successful waste management program of Palompon town to the strict implementation of the garbage collection.

Areva lo, who was vice mayor of Palompon prior to his election to the Sangguniang Panlalawigan, said that segregation starts at the house of their constituents.

If they fail to segregate and follow the collection schedule, their garbage will

not be collected and will be given with citation ticket, he stated. At the third offense, the violator will have to render community service.

“We have two collection schedu les in t his town, one in the morning for biodegradable waste then in the afternoon for the nonbiodegradable waste,” BM Arevalo explains.

T he re g ion a l of f ic e of t h e E nv i r on m e nt a l Ma nagement Bureau (EMB) has been pushing

for segregation at source as part of the implementation of the Ecological Solid Waste Management Act. EM B Env iron menta l Specialist Reygie Ormineta said that they are pushing for segregation at source to limit the volume of garbage being dumped in garbage site as part of their 3Rs (Reduce, Reuse, Recycle) campaign.

“Segregation should start in their houses. In every barangay there should have an area where they can put

PUERTO PRINCESA CITY – Fresh from Corsica, France, where she was invited to attend the UNESCO Marine World Heritage Convention in October, new Puerto Princesa Underground River (PPUR) park manager Elizabeth M a c l a ng i s re p or te d ly considering efforts to expand its land area coverage.

PPUR spokesperson Elmer Badilla said Monday that Maclang is contemplating on proposing an expansion of the territorial coverage of the approximately 5,753-hectare PPU R pa rk lo c ate d i n Barangay Cabayugan after getting enlightenment from t he convention held on October 13-15.

“Basically, she was invited to attend the UNESCO Marine World Heritage Convention.

All the park managers of all marine world heritage sites in the globe were reportedly

introduced. They had sharing of good experiences, bad experiences where they can learn from, workshops on communications, etcetera.

They formulated also an outlook for all the marine world heritage sites. She was inspired on why in other countries, marine parks or protected marine parks are expanding, and yet, in Palawan, they’re getting smaller and smaller,” Badilla said.

Badilla said before the new head of the PPUR makes any effort, an assessment of the park and its covered territories will be done first through the help of experts, one of which is the Palawan Council for Sustainable Development Staff (PCSDS) that has the capability and the technical persons.

“There w ill be an assessment of t he pa rk

first before any proposal to expand it is done by the management,” Badilla said.

According to t he UNESCO, the PPUR park fe at u re s a s p e c t a c u l a r limestone karst landscape with an underground river.

O n e o f t h e r i v e r ’s distinguishing features is that it emerges directly into the sea, and its lower portion is subject to tidal influences.

The area also represents a significant habitat for biodiversity conservation.

The site contains a full “mountain-to-sea” ecosystem and has some of the most important forests in Asia.

It is located in the southwestern part of the Philippine Archipelago on the midwestern coast of Palawan, a p p r o x i m a t e l y 76 k m northwest of Puerto Princesa and 360 km. southwest of Manila. (PNA)

New park manager wants PPUR territorial coverage enlarged

their garbage so the collector could easy see it,” Ormineta said.

Local government units, according to Ormineta, should also remind garbage collectors not to combine biodegradable and nonbiodegradable wastes. (PNA)

A magnitude 6.0 earthquake hit Palimbang mu n ic ip a l it y of Su lt a n Kudarat prov ince in southern Philippines on Sunday evening, and so far reports of casualties have been received.

According to the Philippine Institute o f Vo l c a n o l o g y a n d Seismology, the quake hit

sea area at 19:03 local time with a depth of 556 km.

There was no damages so far, but aftershocks are possible, the agency said.

T he Ph i l ippi ne s sit s in the so called “Pacific R i n g of Fi re ,” a n a re a where continental plates collide, producing frequent earthquakes and volcanic activities. (PNA/Xinhua)

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Market... from page 14

Inigo Zobel and Joselito Campos.

The shares will be listed by way of introduction in the First Board of the Philippine Stock Exchange with an initial listing price of P178 per share.

Unlike an initial public offering (IPO), listing by way of introduction involves no immediate sale of shares, but requires the applicant to do so within a year after joining the bourse.

Besides food and beverage, SMC has interests in packaging, power generation, oil refining and retailing, mining, telecommunications, property development and infrastructure.

It entered the aviation business last year with the acquisition of a 49 percent stake in Philippine Airlines and Airphil Express for $500 million.

SMC is selling its remaining 27.1 percent stake in Manila Electric Co, the country’s biggest power distributor, to JG Summit Holdings Inc. SMC posted a net loss attributable to equity holders of the parent of P2.4 billion in the first half, a reversal of the P14.12 billion reported in the same period last year, as foreign exchange losses weighed on the company.

Lead... from page 14

had 9,830 ppm of lead.

3. A “Merry Lights” with green wire and bulbs on a plastic bag had 8,664 ppm of lead.

4. A “J.F.” Christmas lights with green wire and red bulbs on a plastic bag had 7,677 ppm of lead.

5. A lighting chains of big blue, green, red and yellow stars with white wire on a plastic bag had 6,735 ppm of lead.

6. An unlabeled Christmas lights with green wire and orange bulbs on a white box marked “UL Listed” had 5,782 ppm 7. A “Multi Function” rice lights with clear wire on a blue box with image of a Christmas tree had 4,751 ppm of lead.

8. A “Millennium Lights” with green wire and red bulbs on a plastic bag had 4,744 ppm 9. A “JF Star” Christmas lights with green wire and clear bulbs on a plastic bag had 4,621 ppm of lead.

10. A “ Mabuhay Star ” Christmas lights by Wan Da Xin Trading International, Inc. with green wire and clear bulbs on a plastic bag had 4,187 ppm of lead. (PNA)

BSP...

from page 14

8 , 8 6 0 b r a n c h e s , 13 ,12 9 automated teller machines (ATMs), 391 microfinance banking offices, and 212 banks with e-banking services.

Similarly, the report said banks’ asset quality remains intact despite the increase of loans extended by these financial institutions as the non-performing loans as of last June at 3.3 percent of banks’ total loan portfolio (TLP).

Banks remain well capitalized during the said period as capital adequacy ratio (CAR) stood at 18 percent on solo basis and 19.3 percent on consolidated

basis.

The sector’s Tier 1 capital, which is a core measure of a bank’s financial soundness, remains strong as it stood at 16.5 percent on solo basis and 16.8 on consolidated basis.

Banks continue to introduce innovations on how to widen their reach and the central bank said it “continues to widen financial access points under a defined financial inclusion strategy.”

Relatively, the BSP said that aside from banks the financial institutions with quasi-banking functions, non-stock savings and loan associations and other central bank-accredited nonbanking financial institutions (NBFIs) “also performed well” during the same six-month period.

“Key performance indicators for these NBFIs reflected strong balance sheets and sustained profitability during the period,” he said.

The central bank said “the BSP continues to be vigilant against potential pressure points” amid the sustained strength of the countr y’s financial system.

“This is in line with the BSP’s objective of promoting financial stability,” it added. (PNA)

Holcim... from page 14

percent to P22.1 billion, while profits rose by 48 percent to P3.7 billion year-on-year.

Sahagun is optimistic they will surpass the projected 9 - percent grow th for the industry.

“That is quite substantial in an industry that is almost operating at capacity from a high base of 18 percent last year,” he said. “This assumes that that all your capacities are running efficiently at 85 percent.”

Sahagun said the company has mostly completed its maintenance activities.

He said its plants in La Union and Misamis Oriental would have higher production capacities because projects to improve efficiencies were also implemented during the maintenance breaks. “ We’re proud to have completed our scheduled shutdowns safely. With these done, we are now focusing our attention to regular operations.

These initiatives plus the start of our Mabini operations prepares us well for the expected upswing in demand,” he said. (PNA)

Nokia... from page 15

program, 400 of them in Finland.

The most famous one is Jolla, which has taken over Meego, a free mobile operating system abandoned by Nokia.

The company is expected to launch its first mobile phone by the end of the year.

The start-up model does not suit everybody, though.

“Sure, there are a lot of engineers coming out of Nokia, with a long and brilliant career behind them. But very few know how to sell a product, which is a necessary skill when you’re creating a start-up,” said TiinaMaria Siipola, president of the Association of Engineers of Oulu, a city in western Finland that was hit hard by Nokia’s job cuts.

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In Oulu, more than a third of all start-ups created in 2011 did not survive their first year.

Some nostalgics in Finland still dream of the arrival of a “new Nokia,” a top world-class company that will boost Finnish pride again.

This is not a pipe dream.

Finnish entrepreneurs have had an uncanny knack for turning from underdogs into greyhounds.

Take for example Rovio, whose Angry Birds games exploited the new touchscreen features of smartphones and tablets to launch itself to success.

Another example from the same industry: Supercell, which was founded only 2010 and recently sold 51 percent of its shares to Japanese investors for $1.5 billion.

Entrepreneur Tommi Uhari thinks it is better for Finland to stick with Davids rather than Goliaths, however.

“When Nokia was successful, it was very hard to hire talented employees, because they all worked there! Now it is much more interesting. People are ready to take risks, and to do what really excites them,” Uhrari said.

Tigerair... from page 15

Earlier, Tigerair launched a twice a week flight to Phuket and three times a week KaliboSingapore flight.

Ramos said the airline is on track to meet its P5 billion revenue target this year.

The airline will acquire two to three Airbus A320 aircraft next year to support its expansion. It has a fleet of two A319s and three A320s, serving four international routes and one domestic route out of Clark, and seven domestic routes out of Manila.

Tigerair flies to Singapore, Bangkok, Hong Kong, Clark, Laoag, Bacolod, Kalibo, Cebu, Iloilo, Tacloban, and Puerto Princesa.

Last year, the airline carried 284,959 international and 317,897 domestic passengers.

Hike... from page 17

engaged in highly profitable ventures but are paying less taxes that they would face scrutiny from the BIR. Purisima said that the Department of Finance and the BIR would use their own top taxpayers list as basis to audit tax-eligible individuals.

Likewise, a large difference in tax payments between two consecutive years might also be a sign for audit.

The finance chief also said that personalities who are engaged in highly profitable industries but are not included in the top taxpayers list will be included in the audit of the BIR. The move is part of the BIR’s ef for t to boost the country’s taxpayer base of individuals and average tax payments to 1.8 million and P200,000, respectively. The twin objectives are seen to translate to an additional P360 billion in collections or 2.1 percent of the country’s gross domestic product (GDP).

T h e g o ve r n m e n t h a s intensified its campaign against

tax fraud due to declining collections from self-employed individuals.

Data from the BIR show that only 402,000 of the 1.8 million registered individual taxpayers and professionals filed their tax returns, paying an average of P33,441 or a total of P13.4 billion, which account for only 0.13 percent of the GDP.

www.johndprovoice.com

Banks... from page 17

one is to survive and thrive, international competitiveness is the way to go.”

This is because so-called Qualified ASEAN Banks (QABs) will operate within ASEAN, Tetangco explained. “In the end, the size and strength of each bank’s balance sheet as well as the quality of its management will become crucial factors under regional integration.”

Central banks and banking sectors across the 10 states of ASEAN are stepping up preparations for financial integration which will begin by 2015. The BSP for its part said that policy frameworks being draf ted now should implement a smooth ASEAN i nte g r at i o n p r o c e s s w i t h banking industries.

Based on the Asian Development Bank’s report on ASEAN financial integration, the BSP said the framework in the areas of financial services, capital account, payments and settlement systems, and capital markets will be complemented by capacity-building initiatives, infrastructure building, and an enabling intermediation environment that is effective and efficient for financial flows.

The ADB report said ASEAN should nurture globallycompetitive banks, that the integration of the region’s banking institutions will create an environment conducive to the emergence of such banks.

Global banks become more competitive through mergers and acquisition as it builds up customer base.

Since the 1990s, ASEAN banks and other financial institutions have grown in asset size but not large enough to compete effectively in a global scale. “Small, segmented, and illiquid, various financial markets in ASEAN are vulnerable to shocks from outside the region,” said the report. “ASEAN must therefore place a high priority on speeding up and deepening regional financial integration to realize its continuing commitment to community building ASEAN’s banking market has seen only a small integration. Although the ASEAN 5 states (Philippines, Indonesia, Malaysia, Singapore, and Thailand) have opened up its banking sectors, the crossborder banking business is still slow to develop.

At the moment, there are only three ASEAN banks which ADB considers has the “widest regional presence” and these are Maybank of Malaysia, Bangkok Bank of Thailand, and United Overseas Bank of Singapore. The non-ASEAN global banks that have an even bigger presence in the region include Citibank, HSBC and Standard Chartered Bank.

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Paulo Avelino admits dating KC Concepcion Coming right on the heels of the admission about his break up with now ex-girlfriend LJ Reyes, the ever-shy Paulo Avelino, much to the viewer’s surprise, revealed that he is actually seeing someone new at the moment and that someone is none other than KC Concepcion.

The revelation came after he was asked by host Boy Abunda if he was friends with the actress-host during his live appearance at “Buzz ng Bayan” on Sunday, a question which was followed up by Carmina Villaroel with “Do you like her?”

S ho c k i n g e ve r y one ,

including t he hosts, he replied with “Well yeah we’re dating.”

When asked to share how things are going for them, the ever-so-private Honesto star’s response was: “Siguro I just wanna keep things private.”

However, he said that he’s “happy” at the moment.

According to Paulo, he has known the daughter of Megastar Sharon Cuneta for a couple of years now. In fact, he even recalled that his first project since transferring to the Kapamilya network two years ago, which is a Maalaala Mo Kaya episode

clifford’s

Daily HOROSCOPE AQUARIUS (January 20 – February 18) - You are feeling quite exposed today -- it could be that a recent mistake has come to light, or maybe you’re finding that things are just harder to take than usual.

Find a shoulder to cry on.

PISCES (February 19 – March 20) - You can’t quite get a grasp on today’s big news -- but you don’t have to! Things are looking up overall, and the specifics don’t really matter. You can explain it all next week if you like.

ARIES (March 21 – April 19) - You’re feeling upset -- and for good reason! People are acting like jerks today, but there’s not much you can do about it but lick your wounds. Plotting revenge is for lesser mortals than you!

TAURUS (April 20 – May 20) - Focus on your close friendships and family relationships today -- your social energy requires a bit of intimacy to really get going. You can help your people to take steps toward a better life.

GEMINI (May 21 – June 21) - It’s a better day for observation than for action. You need to make sure that you’ve got all the facts before you take on anything new or weird, and that could mean waiting for quite a while.

CANCER (June 22 – July 22) - Your optimism is a little out of control right now -- so give it some time off. Look skeptically at anything you’ve got to sign, and make sure you get all the facts before agreeing to anything.

was actually with her.

Three weeks ago, the former Huwag Ka Lang Mawawa la st a r hog ged headlines and shocked the Netizens after posting a collage of photos seemingly having a good time with NBA player Chandler Parsons on her Instagram account.

“Mabuhay! So much to see, so little time! Fun night with my ladiez & the big boys. @chandlerparsons,” the photo’s caption read.

Reca l l t hat t he NBA teams Houston Rockets and Indiana Pacers came into the country weeks ago for a pre-season game held in

Pasay City last October 10 which was also attended by KC. Days later, KC , who was also very quiet about her personal life off late, dismissed any romance with the basketball star saying that ““Friends kami, yun lang yon!”

According to Paulo, he didn’t even get jealous about KC’s friendly date with the American cager.

“Sakin kasi Tito Boy, hindi rin talaga ako seloso. I try to think about things first before I really say anything or bring it out. Nasabi niya showbiz/PAGE 23

Mindanao Daily News’

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SUDOKU How to play the game?

Fill in completely every rows, columns and diagonals of each puzzle without repitition

Yesterday’s Answer

of the same digit.

LEO (July 23 – August 22) - Focus inward today -- your social energy is ebbing a bit, and you may feel more at home considering personal issues and problems. Don’t worry about solutions; just let your mind wander.

VIRGO (August 23 – September 22) - Your communication skills are peaking now, so put them to work for you! It’s a good time for you to step up and deal with people who are either causing problems or just not getting it.

LIBRA (September 23 – October 22) - You find it easier to make purchasing decisions today, so it’s a good time to go bargain hunting or make a major acquisition. You may still need some guidance, so keep a few smart friends handy!

SCORPIO (October 23 – November 21) - You’ve got to make good use of this power -- it’s flowing right through you, so you have to do something with it rather than storing it up for later use. People can sense your strength.

SAGITTARIUS (November 22 – December 21) - Your imaginative side is out in force, though you may not be able to make much practical use of it. There’s nothing wrong with that! Just dream up a few new ideas and wait to get to work on them.

CAPRICORN (December 22 – January 19) - You’re fairly well organized, which really comes in handy on an intense day like today. You may have to deal with more than one crisis, but you can turn the biggest into an opportunity.

Amazing Facts!

Did you KNOW?? ..

Beware an ant uprising! There are one million ants for every human in the world. These resilient creatures also never sleep and do not have lungs.

CROSSWORD puzzle

across 38. Castro’s turf 1. South American country 39. Business notices 9. Korean currency 40. Perjurer 10. Eight (comb, form) 42. Temporary decline 12. Building wing 44. Newcomer 14. American university DOWN 16. Greek letter 2. Nocturnal bird 18. Rhenium symbol 3. _and behold 19. Wheel and_ 4. Translucent chal 20. Piece of furniture cedony 21. Scent 5. Spanish dance 23. Weasel 6. Freeze 25. Encountered 7. Preposition 27. Rowing pole 8. Fuel oil 28. Pencil end 11. Bovine mammals 31. False god 13. Guided 33. And not 15. Alcoholic beverage 34. Model 17. Visionary 36. Lithium symbol 19. Greek god of war 37. _Nino 20. Winged creature

22.

24.

26.

29.

30.

32.

35.

38.

39.

41.

43.

_Khayyam Wound seriously Entitlement Rock and_ Burglarize Antiquated Adventurous Automobile Actor Muhlach Whether Americium symbol

Yesterday’s Answer

Mindanao Daily 23 NEWS

tuesday | november 5, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Gold... from page 13

imposed; the volume then was roughly 12 tons of gold, according to BSP-Davao Regional Director Demetrio E. Casipong.

Mr. Casipong said he believes gold traders in the region “prefer to sell their gold to the black market”.

At present, the bank buys at $1,300 per troy ounce, equivalent to 0.0311 kg, Mr. Casipong said.

The bank has set up a buying station here with small-scale miners mainly i n C o m p o s t e l a Va l l e y and Davao Orienta l. In Compostela Valley, Monkayo and Pantukan towns are c on sidere d m ajor gold producers.

In Monkayo, the biggest gold-producing barangay is Diwalwal. The government, through Philippine Mining Development Corp., has been trying to bid out portions of the 8,000-hectare mineral re s e r v at ion t he re , but the bidding has not been successf u l. Pa r t of t he mineral reser vation is a 729-hectare area set aside for small scale miners.

Pantukan is the site of small-scale mining activities even when the government declared a “no habitation” policy there after several landslides resulted in the death of scores of small-scale miners.

C o m p o s t e l a Va l l e y Governor Ar turo T. Uy earlier also said that mining operations in the area have not resulted in significant revenues for the province since taxes go to the national government.

Davao Oriental Governor Cora zon N. Ma la nyaon also complained that local government units’ share was very small when they are the ones with the bigger responsibility over mining activities.

Alarms... from page 13

On Thursday morning, the coastlines in Baluarte turned reddish as thousands of fish, including crustaceans, f loated of f the seashore estimated to be weighing more than a hundred kilos.

Emano said he has ordered an investigation to avoid a repeat of the incident and find out what triggered the fish kill.

He said that the provincial gover n ment wou ld not hesitate to institute measures to punish those responsible for the fish kill that has affected the livelihood of fishermen in the area.

“We will wait for the result of the investigation now being undertaken by BFAR, the environment officials, and local government units before we could institute legislative measures,” Emano stressed. (PNA)

Agus... from page 13

prescribed u nder t he procurement law, Guangxi Hydroelectric submitted the lowest offer as read, which

can translate to potential s a v i n g s a m o u nt i n g t o more than P1 billion for the government,” Psa lm bids and awards committee chairperson Manuel Marcos M. Villalon II said.

A j o i nt v e nt u r e b y Guanxi Hydroelectric and ITP Construction, Inc., the Guangxi Hydroelectric group is tasked for the uprating of Units 1 and 2 of the Agus VI hydroelectric power plant.

It offered a bid of P1.59 billion for t he uprating project, besting t he consortium of HydroChina ZhongNan, Harbin Electric Machinery Co Limited and BSP & Co Inc., which offered P1.68 billion for the project.

Both bids were within the approved budget for the contract amounting to P2.6 billion.

“The submission, however, w i l l st i l l be subjec t to detailed evaluation and postqualification to determine whether the winning bidder as read is compliant with a nd re s p on si ve to t he requirements and conditions set forth in the bidding documents,” Villalon said.

The financial bid envelope of a third bidder did not qualify to enable it to proceed with the opening of its offer.

The Agus VI uprating project intends to increase the power output of Units 1 and 2 of the Agus VI power plant from 25 megawatts to 34.5 each, and extend their economic life to another 30 years.

The project is among the government measures t o i nc re a s e e le c t r ic it y supply in Mindanao, which has been suffering from persistent power outages due to insufficient power generation.

The project will include the investigation, design, engineering, manufacturing, installation, testing and commissioning of the new hydropower turbines and blades of t he t wo Ag us VI power units, as well as replacement of electrical equipment, materials and devices necessary for the safe and reliable operation of the power facilities. Upon award, the project is expected to be completed within 900 calendar days.

The 200-MW Agus VI power plant is a run-ofriver hydro plant located downstream of the famed Ma r ia Cr ist i na fa l ls i n Fuentes, Iligan City. The plant consists of Units 1 and 2 with rated capacities of 25 MW each, and Units 3, 4 and 5 at 50 MW each.—with reports from the News Wires

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

A number of such fauna and flora species are either crit ica l ly enda ngered, endangered, vulnerable or near-threatened, DENR said. ”The private sector may adopt non-threatened species upon DENR’s approval,” Tagtag clarified.

He sa id gover n ment recognizes private sector conser vation efforts under AAWS through tax incentives prescribed in RA 9147 (Wildlife Resources Conservation and Protection Act of 2001).

R A 914 7 ’s S e c . 3 4 provides that “any donation, contribution, bequest, subsidy or financial aid which may be made to DENR or to the Department of Agriculture (DA) and to NGOs engaged in wildlife conservation duly registered with the Securities and Exchange Commission as certified by the LGU, DE N R or DA , for t he conservationand protection of wildlife resources and their habitats shall constitute as an allowable deduction from the taxable income of the donor and shall be exempt from donor’s tax.” ” DAO 2 010 -16 a l s o provides that government may e x tend add it iona l incentives and awards to deserving AAWS participants so more of the private sector can be encouraged to join this program,” Tagtag said.

PAWB said Cemex and EDC earlier signed respective memorandum of agreement covering participation in AAWS. Cemex adopted the tarsier in Leyte, Bohol and Samar provinces, PAWB said.

The bureau also said EDC adopted several species in its various geothermal sites.

Those species and sites are

the Philippine Eagle in Leyte province and Mindanao as well as the warty pig, brown deer, Philippine eagle owl and flying fox in the AlbaySorsogon area, PAWB said.

EDC likewise adopted the flying fox in Negros Island, PAWB continued.

PAWB said incentives for AAWS-related donations to government and accredited non-stock, non-prof it cor porat ions/ NGOs a re aligned with RA 8424 (Tax Reform Act of 1997).

Such donations, contributions or gifts actually paid or made to accredited NGOs within the taxable year are allowed full deductibility from the taxable income, PAWB noted.

Donor’s tax exemption for AAWS-related donations to accredited non-stock, nonprofit corporations/NGOs are also in line with R A 8424, PAWB noted.

PAWB clarified not more than 30 percent of such donations and gifts for the taxable year shall be used for administration-related purposes, however. (PNA)

Showbiz... from page 22

naman ‘yung totoo. Wala naman [sigurong issue].”

But how did he learn about that night out? Has KC personally informed him about the said date?

“It was all over social media,” said he.

Recall that Paulo was in a relationship for almost four years with LJ, with whom she had a son named Ethan Akio. While KC’s last relationship was with actor Piolo Pascual but he was last wooed by French director Pierre-Emmanuel Plassart. push.abs-cbn.com

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Wildlife... from page 20

”Any private entity or individual able to provide f i na ncia l resou rces for either supporting or directly implementing a wildlife conservation project can join AAWS,” said Tagtag.

DAO 2010-16 lists 21 insects, 53 a mphibia ns, 27 reptiles, 137 birds, 85 mammals and 873 plants as priorities for conservation under AAWS.

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24 Mindanao Daily NEWS

The

CAGAYANTIMES

tuesday | november 5, 2013

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

EDITOR: Shaun Uy , e-mail: shaun_alejandrae_uy@yahoo.com

by Jett Torres

T

he CAGAYAN DE ORO PHOTOGR APHERS LEAGUE (CDOPL) joined the recent 6th Scott Kelby World Wide Photowalk last October 5, 2013 in areas of Cagayan de Oro to Balingasag, Misamis Oriental.

The World Wide Photowalk is the largest photography social event in the world facilitated by Scott Kelby the editor and publisher of Photoshop User magazine, president and cofounder of the National Association of Photoshop Professionals (NAPP) and is president of Kelby Media Group, an Oldsmar, Florida-based software training, education, and publishing firm. (www.n.wikipedia. org/wiki/Scott_ Kelby) In Cagayan de Oro, the Cdo Photographers League actively participated the WWPW. The CDOPL is composed of various photography enthusiasts that aim to create an environment of diverse culture of photographic competence, collaboration of initiatives with its members through the exercise of ethical photographic principles and discipline.

The goal is to be the premier photography group in Cagayan de Oro that develops dynamic photographic works comparable to international standards, strengthen collaborative efforts, advance amateur needs and emphasis on aesthetic approach to photography.

The Cagayan de Oro Photographers League will showcase their photographic skills through Photo Exhibition on November 6 – 10, 2013 at Centrio Mall, Cagayan de Oro City.

This Photo Exhibition entitled IMAHE U NO featuring the images from the World Wide Photowalk 2013.

IMAHE is a visayan term of image that depicts a certain work of art of an photographic artist in a visual presentation.

This IMAHE Uno photo exhibition aims to convey a photographic work and discipline to a aspiring photographer that photography skill is a creative expression and infinite imagination of a photographer.

It is not about the expensive cameras but it is about the technique of self-expression – a evocative image.

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de Oro

FEATURE

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