BusinessWeek M I N DA N A O CREDIBLE
Volume X, No. 64
Market Indicators AS OF 6:00 PM NOV. 5, 2019 (TUESDAY)
FOREX US$1 = P 50.410
9
PHISIX 8,216.68
X X Briefly 157.03
cents
points
Inflation drops THE country’s inflation eased at more than a three-year low in October mainly due to lower food prices, including declining prices of rice. In a press conference Tuesday, national statistician and Philippine Statistics Authority (PSA) chief Claire Dennis Mapa said inflation continued to decline to 0.8 percent last month, the lowest recorded since May 2016 when it recorded at 0.9 percent. Mapa attributed the downtrend in October inflation mainly to the annual drop in the index of the heavilyweighted food and nonalcoholic beverages, including rice, corn, vegetables, and sugar, jam, honey, chocolate, and confectionery.
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HE Brunei Darussalam-IndonesiaMalaysia-Philippines East ASEAN Growth Area (BIMP-EAGA), a subregional economic cooperation that accounts for a fifth of the total economy in Southeast Asia, is key to boosting Mindanao’s trade under the so-called New Globalization order. This was emphasized by Mindanao Development Authority’s (MinDA) Deputy Executive Director Romeo Montenegro at the Fifth Mindanao Policy Research Forum (MPRF) held recently in General Santos City. The BIMP-EAGA covers the entire sultanate of Brunei Darussalam; Kalimantan, Sulawesi, Maluku, and Papua in Indonesia; the federal states of Sabah and Sarawak and the
federal territory of Labuan in Malaysia, and Mindanao and Palawan in the Philippines. Established in 1994, the BIMP-EAGA was formed to “spur economic development in the lagging subeconomies” by narrowing the development gaps among its memberstates. Despite being located in different countries, one of BIMP-EAGA’s advantages is the close proximity of its TRADE/PAGE 11
ASKING FOR HELP. Earthquake victims in Barangay Malasila in Makilala, North Cotabato put up signs asking for aid and medicines along the highway a day after the magnitude 6.5 earthquake struck the province, with Makilala as epicenter. mindanews photo by gg bueno
DNA testing center THE Philippine Genum Center (PGC), a DNA testing facility that will focus on agricultural research and development, is set to open before the end of the year at the University of the Philippines (UP) Mindanao. “This is a satellite laboratory to the one we have now in UP Diliman. This is the first outside of National Capital Region to serve our researchers in Mindanao,” Department of Science and Technology-Region 11 (DoST11) Director Anthony C. Sales said in an interview. A PGC will also be set up in the Visayas.
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Mindanao to pitch oil, power projects to Qatar By CARMELITO Q. FRANCISCO, Correspondent
THE Southern Philippines Development Authority will pitch oil and power projects to Qatar businessmen visiting Manila this week.
The projects include oil exploration in Liguasan marsh, peace villages in Tungawan, Zamboanga Sibugay, Sibutu transhipment point, Medical PROJECTS/PAGE 10
Group lauds Customs, MisOr move to reship Korean trash By JIGGER JERUSALEM, PNA
RUINED. Like thousands of other hard-earned houses, the house of Constancio Urbeta, 59, in Barangay Paraiso in Tulunan, crashed to the ground during the second earthquake on Oct. 29 at Magnitude 6.6. His family temporarily lives in one of the tents seen in the background. mindanews photo by jules l . benitez
ENVIRONMENTAL watchdog EcoWaste Coalition on Thursday lauded the efforts made by the Bureau of Customs-10 (BOC-10) and the provincial government of Misamis
Oriental to ship back the remaining 5,177 metric tons of mostly plastic trash to South Korea before the year ends. RESHIP/PAGE 10
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Classes remain suspended in quake-hit Kidapawan City
K
IDAPAWAN City -Classes in all levels, both public and private, in this earthquake-hit city, remained suspended while assessment of school buildings continued Monday, City Mayor Joseph Evangelista said.
The extended class suspension was aimed at giving structural engineers ample time to review, assess and evaluate the integrity of school buildings, especially the two to six-story school structures, according to Dr. Omar Obas,
North Cotabato schools’ division superintendent. Kidapawan City schools’ division superintendent Romelito Flores said: “We will make another announcement tomorrow if we need to suspend for few more days".
He said their office is putting up temporary learning centers in school campuses where the building is no longer fit for occupancy following the series of quakes that hit the province recently. North Cotabato Vice
Governor Emmylou Mendoza, the concurrent acting governor, said the decision to suspend classes now rests in the hands of local government executives or town mayors and education officials in the province. (PNA)
Butuan's tablea among the country’s best A CACAO grower and tablea maker from Butuan made a mark at the Kakao Konek 2019 after his tablea was chosen as one of the
winners in the Top Five Best Tablea Drink contest. Restituto Asube, Chairman of the Taguibo Coconut Farmers’
Association was among the region’s delegates to the Kakao Konek in Davao City on October 17 & 18. He has been into cacao farming
since February 2016 and started to engage in tablea making last year. He also practices fermentation of his cacao beans for better quality. “You earn more if you process your product that is why I process my cacao beans into tablea,” Asube said. Asube’s tablea was chosen among 38 other entries from all over the
country. The contest was among the highlight of activities at the biggest event of the cacao and chocolate industry. The tablea drink contest was open to all local tablea makers in the country who have not won any international awards. Participants were required to submit ½ kilo of 100% dark chocolate (tablea) which was prepared into tablea drink
by a technical team during the contest. Chocolate and tablea experts served as judges of the contest. The Kakao Konek is an annual event wherein cacao and chocolate industry stakeholders converge to get updates on cacao production and processing technologies and strategies. The event also serves as a venue for market matching among the cacao value chain key players. Cacao Industry Development Authority of Mindanao Inc. Chairman Valente Turtur said that cacao growers should aim for 2 kg/tree/year production. He added that high productivity starts with using quality seedlings. He also cited the importance of producing quality beans and cocoa products to help boost the country’s cacao industry. As per data from the Philippine Statistics Authority, the country’s cacao bean production in 2018 was 7,983 MT with Caraga producing 114.49 MT. Under the 2022 Cacao Challenge, the goal is to produce 100,000 MT of fermented beans by the year 2022 for the domestic and international markets. In Caraga, the Department of Agriculture continues to provide interventions to cacao farmers including planting materials, fertilizers, postharvest machinery, and technical assistance. (Vanessa P. Sanchez, DA Caraga/PIA Caraga)
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CorporateWorld
DTI: Prices of Noche Buena products up 11%
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RADE and Industry Secretary Ramon M. Lopez on Monday said that suggested retail prices (SRPs) of Noche Buena products have been adjusted by as much as 11 percent as cost of raw materials have also increased by as much as 40 percent. The list includes products such as ham, fruit cocktail, cheese, sandwich spread, mayonnaise, queso de bola, spaghetti, macaroni, spaghetti sauce, tomato sauce, and creamer. Lopez said some brands increased their prices by 2 to 11 percent. “This is in consideration of the 30- to 40-percent increases
in cost of some materials,” Lopez said. Depending on the brand and the weight, the price of ham ranges from P135 to P1,025. For fruit cocktail, prices range from P50.35 to P239.40; P49.50 to P269.50 for cheese; P21.05 to P205.80 for sandwich spread; P28 to P283 for mayonnaise; P169 to P539 for keso de bola; P19 to 92 for spaghetti; P18.75 to P98.65 for macaroni; P22 to P84.20 for spaghetti sauce; P12.25 to P78.25 for tomato sauce; and P52 to P75 for creamer. Lopez said the new SRP would be the last for the year. He also clarified that noche buena products not under price control.
“They are also not part of basic products and prime commodities. Companies are the ones issuing SRPs,” he stressed. “DTI’s role is to ensure they don’t overpriced, by reviewing cost increases, and convincing companies not to pass entire cost increases to price of finished products.” However, Laban Konsyumer Inc., the country’s leading consumer advocacy group, has maintained that DTI should rollback the SRP of Noche Buena products in light of the continued decline in the country’s inflation level. LKI President Victoriano Mario Dimagiba pointed out that annual rate of inflation for the
food index fell by 1.3 percent last month and was reported at .3 percent in August this year. “Given these positive numbers, the DTI should not preempt issuing public statements that there will be increase in the SRP of Noche Buena products,” said Dimagiba, a former DTI Undersecretary for consumer welfare turned consumer advocate. The LKI President said that DTI should instead focus on studying how much it should pass on to the consumers the positive inflation in terms of lowering SRP. The outlook for inflation for the balance 3 months remain very low. Dimagiba added that the
raw materials of the products had remained stable and we have relatively lower electricity and diesel prices the past 3 to 5 months. Pasta and bread should remain unchanged if not lower as wheat had remained low this year. LKI also urged the Philippine Association of Meat Processors Inc. not to increase prices of processed ham ranging from the basic 500 grams to the 1 kg Chinese sweet ham as consumers continue to reel from fear of the risk to health of contaminated ASF pork. Noche Buena products are food items purchased by Filipinos for their Christmas Eve celebrations.
targets to take 30% CebPac opens 9th batch of DITO share of telecoms market cadet pilot training program BUDGET carrier Cebu Pacific (CEB) on Monday announced the opening of the ninth batch of Cadet Pilot Training Program, its "Study now, Pay later" program for aspiring pilots. CEB is looking for 16 trainees for its latest batch. The program is open for both male and female Filipinos. They must be college graduates with
at least 80 percent (or equivalent) in subjects related to Math, English and Physics. Applicants should be English-proficient and are in good physical condition. Interested individuals may apply online (https:// www.surveymonkey. com/r/JWFMS5G) from November 4-13. Passers of the online prescreening will undergo
the next stages of selection process. CEB will finance the 52-week training program for successful applicants. The training includes theory and education at the Flight Training Adelaide in Australia. Further, trainees will be trained for four weeks under the Civil Aviation Authority of the Philippines for them to get
their pilot's license. Guaranteed employment awaits successful trainees. They would reimburse the cost of the training program via salary deduction within a maximum of 10 years. In previous interviews, CEB vice president for Flight Operations Samuel Avila said all that the carrier asks
NEW telecommunications company DITO Telecommunity Corp. is targeting to corner nearly a third of the market in two to three years, as its officials pointed to recent deals aimed at a speedy delivery of its commitment. In a statement on Sunday, the China-backed firm said that it aims “to capture 30% of the market within the first few years of operations with its commitment to fully
comply with its mandate of providing world-class telecommunications services that the Filipinos deserve.” DITO Chief Technology Officer Rodolfo D. Santiago said the company targets to achieve the goal in “two to three years.” The company, which aims to become a major industry player, recently signed agreements with its key contractor-partners
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The Asia trade bloc deal is being 'expected' in February 2020. Plans to sign the world's largest free trade pact at a regional summit in Bangkok have been thrown into doubt after objections from India. But China, hurt by its trade war with the US, is keen to see the deal finalized.
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What you see is what you get Think a minute…You’ve heard the expression ”What you see is what you get.” Psychologists tell us that nothing controls our lives more than our self-image. We live like the person we see in the mirror. We are what we think we are. If you don’t think you’ll be successful, you won’t. You can’t be it if you can’t see it. Your life is limited to your vision. So if you want to change your life, you must change your vision of your life. Arnold Schwarzenegger was not that famous in 1976 when he met with a n e w s p ap e r r e p o r t e r. The reporter asked S chw ar z e n e g ge r : “Now that you’ve retired from b o dy bu i lding , w hat do you plan to do next? Schwarzenegger answered very calmly and confidently: “I’m going to be the #1 movie star in Hollywood.” The reporter was shocked and amused at Schwarzenegger’s plan. At that time, it was very hard to imagine how this muscle-bound bodybuilder, who was not a professional actor and who spoke poor
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JHAN TIAFAU HURST English with an Austrian accent, could ever hope to be Hollywood’s #1 movie star! When the reporter asked Schwarzenegger how he planned to make his dream come true, Schwarzenneger re pl i e d : “I’ l l d o it t he same way I became the #1 bodybuilder in the world. First I create a vision of who I want to be, then I start living like that person as if it were already true.” Sounds almost childishly simple, doesn’t it? But it worked! Schwarzenegger DID become the #1 highest paid movie star in Hollywood! Remember: “If you can see it, you can be it.” SEE/PAGE 11
WEDNESDAY|NOVEMBER 6, 2019
The ASEAN Summit
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PROF. ENRIQUE SORIANO “I am the founder and have controlling interest in the business… why do I need a board to dictate to me how I should run my business?” or “I don’t need a board because I already know what’s right for my company!" These are common condescending expressions by owners that I encounter almost daily when I start pressing them on the need to set up a real, authentic board. Family enterprises form the backbone of any economy
An agreement to create the world's largest trade bloc will be signed by Asian countries in 2020, the Thai government said to day Monday, November 4, 2019 while writing this piece. Thailand, which is hosting the three-day Association of Southeast Asian Nations (ASEAN) summit in Bangkok, had previously said it hoped to conclude negotiations on the trade deal by the end of the year. One thing is for sure: China's foreign trade has shrunk more than expected. The new trade area, known as the Regional Comprehensive Economic Partnership (RCEP), involves the 10 ASEAN members, plus China, Australia, New Zealand, India, Japan and
South Korea. If implemented, it would be the world's largest free trade bloc, comprising nearly half the world's population and about a third of GDP. The trade war between China and the United States has taken a toll on exportdependent Southeast Asian countries. Economic growth in the region is projected to slow this year to its lowest level in five years, making the signing of the deal more pressing for many ASEAN members. Speaking at the summit's formal opening, Thai Prime Minister Prayut Chan-o-cha called for a swift agreement "within this year to stimulate economic growth as well as trade and investment." "The early conclusion
of RCEP negotiations will lay the foundation for East Asia's economic integration," a statement from China's Foreign Ministry said on Sunday. RCEP negotiations had stalled over India raising concerns about the impact a flood of cheap Chinese goods could have on local businesses. Some countries have also raised the possibility of moving ahead without India. Discussions on the deal will resume when member states meet on this Monday afternoon. T h e As s o c i at i o n o f Southeast Asian Nations (ASEAN) celebrated its 50th anniversary last year. Since its founding, the bloc has SUMMIT/PAGE 11
Why do I need a board? as it represents more than 75% of all businesses in any country. Unfortunately, the governance model is almost exclusively dependent on what the founder (or the next generation owners) wants. Where the owner goes, the rest follow and the old adage clearly says it all… if an owner tells his subordinate to “Jump”, the natural reaction of a beholden executive is to ask “How High?” While today’s business culture isn’t as dictatorial as it has been in the past, there are still a lot of traditional thinking happening especially amongst the Silent and Baby boomer generation (born before 1945 then 1946 to 1964). The mistaken notion of losing power and ownership as a result of having non family members in the board continue to stoke fear on owners, effectively subsuming growth in favor of control and confidentiality. This universal
mindset is obviously untrue as safeguards are always available. The bottom line is this: family businesses should have an active board with non- family members (or advisors) if they intend to stay and thrive in a complex environment. One wrong decision can change the course of business overnight. For those unfamiliar with the 1997 Asian financial crisis, most of the companies that defaulted were family owned. A case in point is the Asia Pulp & Paper (APP) owned by the Widjaja family from Indonesia. The group defaulted on the back of a staggering US$14 billion debt in 2001. Despite the family debacle, they have since recovered and investors are showing renewed faith in the group. The combined market value of 12 familycontrolled companies listed on the Singapore and Jakarta
exchanges has held steady and is estimated between US$15 B to US$16 B. I am personally aware of this major turnaround as a colleague currently sits as an Independent Director in one of its listed companies. Their primary objective is to embed a Corporate Governance (CG) culture starting at the board level and highlighting the principles of transparency, accountability, integrity, fairness and independence. In my W + B Fam i ly Advisory work, I always challenge business owners to nominate non-family members so they can provide value and strategic advice. These directors must also have the independence to challenge decisions when family and personal issues get mixed with the business. The other role is also to impose discipline and check on entitled owners who may whimsically make poor BOARD/PAGE 11
Forever young and new THOUGH we cannot avoid aging and getting old, we have to understand that we are meant to be forever young and new. Aging and getting old are a matter of time. They are temporal or temporary. They are more a matter of the physical, material and external. They only happen in this life here on earth. But since we are meant to be in eternity with God, we are actually meant to be young and new and never fading, just like God himself. To be forever young and new is more a matter of the spiritual, supernatural and the internal in us. Though to be forever young and new cannot be achieved here on earth, we have to understand that we should tr y our best, together with God’s grace, to approximate that ideal here on earth. The secret is in loving — loving God himself and because of our love for God, then also loving everybody else.
It ’s l o v e t h a t i s a participation of God’s love for us that will keep us forever young and new. It will keep us fervent amid the vagaries of life, strong and focused and with good fighting spirit as we go through the ravages of life. We need to keep this love burning always. And again the secret is always to look for Christ wherever we are, whatever the situation we will have. We have to learn how to find Christ in everyone and everything, how to relate everything to him. Everything is always relatable to Christ, including our mistakes and sins. It’s he who will show what to do with them. Toward this end, we have to fight against laziness, both physical and mental. We always need to submit ou r s e lve s t o a c e r t ai n discipline to keep us fit physically and mentally so as to be able to engage God properly. We have to fight against
our tendency to take God for granted. We have to fight against the tendency to fall into complacency, spiritual dr yness and coldness. Indeed, we really need to sharpen our spirit of mortification, for without it, we really cannot go far in our prayer and our spiritual duties. It’s clear that to keep ourselves young and new in this life, we need to wage war, a spiritual warfare. And this can be in the arena of our work today that is now flooded with many new, fascinating, if also absorbing things. We have to be most careful not to fall into selfindulgence, obsessions and addictions. The new technologies will surely give us some high feelings, but they will only be fleeting and will gradually tie us down into some kind of addiction. We need to be extra careful with them, always rectifying our intentions and clearly keeping a sense of limits
HINTS AND TRACES
ROY CIMAGALA in their use so as not to be separated from God. They can be a sweet poison. That is why we need to keep ourselves in the presence of God, and maintain a spirit of prayer. Prayer, combined with recourse to the sacraments, spirit of sacrifice and ascetical struggle, is the best antiaging tool we have at hand. Wrinkles may still come, though they for sure will be delayed, but the spirit will be forever young and new. It is important also that we keep away from any sign FOREVER/PAGE 11
5 SEC issues warning vs Economist eyes better bank 4 ‘investment’ firms lending growth by yearend Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
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THE Securities and Exchange Commission (SEC) is advising the public against investing in four companies which have been operating without proper licenses. The SEC issued advisories against Max4Unlimited Co.; Max4 Unli Corp.; Lion City Finance Group, Inc.; and Hybrid Gamefowl Holdings, Inc., which it identified as groups engaged in the unlicensed solicitation of investments from the public. It said Max4Unlimited and Max4 Unli are both registered with the SEC as a partnership and as a corporation, respectively, that are supposed to be in the business of trading goods, commodities, wares and merchandise. However, neither of them have licenses to offer or sell securities. The SEC said the two companies have been collecting investments from the public in exchange of a 50% return on investment every six months. The SEC also flagged the operations of Lion City, which was found to offer a “pure passive income of 10% interest or more per month.” The investment it collects from
Banking&Finance
the public is supposedly for real estate, foreign exchange, cars and casino financing. But the SEC noted the Articles of Incorporation of Lion City states it is a financing company that offers credit facilities for industrial, commercial and/or agricultural enterprises. It also showed the company “shall not solicit, accept or take investments/placements from the public (and) neither shall it issue investment contracts.” Hybrid Gamefowl likewise solicits investments from the public without a license but through a different scheme that involves texas chicken. It entices the public to pay at least P998 for two “Texas chickens,” which will not be delivered to the buyer, who instead will get a return of P3,000 after 90 days. The SEC said while Hybrid Gamefowl is registered with the Commission, it does not have a license to offer or sell securities, which the government requires from companies that seek to operate as investment firms. WARNING/PAGE 8
AN economist of Security Bank Corporation (Security Bank) forecasts faster growth for domestic liquidity and bank lending by end-2019 because of the cuts in banks’ reserve requirement ratio (RRR) and on policy rates. In a report, Security Bank chief economist R. Dan J. Roces said the total of 200 basis points RRR reduction from May to July alone have not been felt in the economy to date due partly to investors’ wait-and-see stance on
any policy rate decision of the Bangko Sentral ng Pilipinas (BSP). BSP’s policy-making Monetary Board (MB) further reduced the RRR level by 200 basis points, at 100 basis points each effective by November and by December. The MB slashed the BSP’s key policy rates by 25 basis points each last May, August and September on sustained deceleration of domestic inflation and on the outlook that domestic growth remains firm amid
the slowdown below 6 percent in the first half of the year. Growth, as measured by gross domestic product (GPD), slowed to 5.6 percent in the first quarter of the year from 6.3 percent in the previous quarter. It further decelerated to 5.5 percent in the second quarter, which brought the average expansion in the first six months to 5.5 percent, below the government’s 6 percent to 7 percent target this year.
Bank lending, excluding placements in the BSP’s reverse repurchase facility, posted a slower growth of 10.5 percent last August from the previous month’s 11.1 percent point. Bank lending growth in the following month is flat at 10.5 percent. Domestic money supply, as measured by M3, grew by 7.7 percent year-on-year last September from monthago’s 6.3 percent in the LENDING/PAGE 10
AN official of the Ayalaled Bank of the Philippine Islands (BPI) said he hopes that half of their account holders would shift to digital transactions by the end of the year. In a briefing on Tuesday, BPI Chief Operating Officer Ramon Jocson said they have 8.5 million accounts, 1.8 million of which have
passbooks. Jocson said new account holders usually access the bank’s electronic channels once they open their accounts. “The challenge for us is for those who have accounts with us, ATM (automated teller machines) accounts that have not gotten to the branches yet to apply for
an online account,” he said. Jocson, however, said that once the account holders realize the advantage of accessing the digital platform, “the adoption is quite fast.” “But it (the challenge) is really trying to reach out to them to involve them,” he said. “So our target right
now is to get to at least 50 percent (of the account holders to use the digital platform) by the end of the year,” he added. Domestic banks are keeping up with technological innovations and changes in the financial landscape to ensure they are able to fully cater to their clients. BPI/PAGE 10
BPI exec eyes 50% of clients in digital platform by yearend
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EU aid project eyes low carbon RE for PH’s sustainable energy future
C
By MIKE BAÑOS
AGAYAN DE ORO - A European Union assisted project aiming to provide the Philippines with low carbon energy sustainability was launched last 28 October 2019 in Xavier Ateneo.
Dubbed the Access to Sustainable Energy in the Philippines – Clean Energy Living Laboratories (ASEP-CELLs), the project is being implemented by Ateneo de Manila University (through the Ateneo School of
Government), the Manila Observatory, ICLEI (Local Governments for Sustainability) a global network of more than 1,750 local and regional governments), the University of San Carlos and Xavier University –
Giovanni Seritella, project manager for Environment & Climate Change, Delegation of the European Union to the Philippines.
Ateneo de Cagayan (Xavier Ateneo). Guests from the European Union, Department of Energy, among others, underscored the project’s research agenda in relation to national and local energy challenges of the country. Giovanni Seritella, project manager for Environment & Climate Change, Delegation of the European Union to the Philippines said ASEP is an EU program which supports the Phil. Government’s target to provide 100% household energy access by 2020. “The ASEP-CELLS project aims to advance the renewable energy agenda in the Philippines and support the transition to a low carbon energy path through three interrelated components or pillars: Knowledge Management to address needed policy reforms to push the RE agenda in the Philippines; Capacity Development which will
Dr. Joseph Yap, Senior Technical Advisor of the Ateneo de Manila University School of Government.
Speakers pose for posterity following the signings on the Commitment Wall for Clean Energy (L-R) Fr. Bobby Yap SJ, XU President_ Douglas Liner, Giovanni Seritalla, DOE Usec. Wimpy Fuentebella & Dr. Josef Yap (RMB).
support the knowledge and the skills of those who champion these reforms, and Advocacy to support the creation of the demand for renewable energy intervention in the country,” Seritella noted. The program aims to provide innovative ways to respond to the challenge of climate change by supporting the access to renewable energy and support marginalized groups and communities which do not have access to energy. The ultimate aim is to provide support for response to climate change. Over 750 local governments around the world have declared a climate emergency, he added. “This project is important because it will help us create political space for evidencebased practices that will link global energy to political institutions and institutional capacity, as
well as strategic planning for disaster resilience, energy delivery and technology.” PH has Low Usage, High Pricing Dr. Joseph Yap, Senior Technical Advisor of the Ateneo de Manila University School of Government, said despite the Philippines having the second lowest per capita energy consumption per capita GDP in the ASEAN, it has the second highest electricity rate in Asia behind Japan. “The Philippines consumes less but pays more, and nine percent of our households have no access to electricity, the lowest among ASEAN member nations. These households are found mostly in Mindanao, specifically in Region IX and the Bangsamoro Autonomous Region for Muslim Mindanao (BARMM). Thus, Yap said the two most critical energy issues
facing the country in the future are adequate supply and the optimal energy mix, and the overall object of promoting energy security. “Optimal is not limited to least cost. There has to be a balance among social, economic, financial and environmental goals. Policy has to be aware of possible conflict among components of Energy Security: Autarky, Affordability, Accessibility, Sustainability or the Energy Trilemma.” Energy Usec. Felix Fuentebella noted that while the Philippines has been declared as the third country most vulnerable to climate change, it has been ranked first by World Energy Council on Energy Sustainability the last 4-5 years. As of June 2019, the country has attained 98% of electrification based on 2015 census while over 80% of the population expressed openness to new energy options. The Jesuit Mission and Climate Change In his welcome remarks, Xavier Ateneo Pres. Fr. Roberto Yap SJ said that as a Jesuit university, Xavier Ateneo strives to participate in Jesuit mission, an essential dimension of which is to collaborate in the care of our common home, as inspired by Pope Francis in his 2015 encyclical, Laudato Si’ in which he stressed climate change as ENERGY/PAGE 11
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Inflation eases to 0.8% in October, slowest in over 3 years By LESLIE GATPOLINTAN and JOANN VILLANUEVA, PNA
T
HE country’s inflation eased at more than a three-year low in October mainly due to lower food prices, including declining prices of rice. In a press conference Tuesday, national statistician and Philippine Statistics Authority (PSA) chief Claire Dennis Mapa said inflation continued to decline to 0.8 percent last month, the lowest recorded since May 2016 when it recorded at 0.9 percent. Mapa attributed the downtrend in October inflation mainly to the annual drop in the index of the heavily-weighted food and non-alcoholic beverages, including rice, corn, vegetables, and sugar, jam, honey, chocolate, and
Daryl Paragoso, pride of Oro Integrated Cooperative - Maramag branch, nabs the title Miss Cooperative Region 10 2019 during the competition held last October 30 at the City Tourism Hall in Cagayan de Oro City. photo courtesy of oro integrated cooperative
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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 Vegetables and other commodities sold in a market. (File photo)
confectionery. He said the annual decline in transport index, particularly on petroleums and fuels for personal transport equipment, and the index of housing,
water, electricity, gas, and other fuels also led to lower inflation. Inflation in September 2019 was higher at 0.9 percent and in October 2018 at 6.7 percent.
Last month’s figure brought the year-to-date inflation for 2019 to 2.6 percent, at the lower half of the government’s 2 percent to 4 percent target band this year until 2021. The Bangko Sentral ng Pilipinas (BSP) has forecast this to be the year’s slowest as the base effects of last year’s elevated rate disappear. The central bank, in a statement, noted that the lower price of rice and oil in the 10th month this year countered the faster inflation rate of electricity, liquefied petroleum gas (LPG), water, and selected food items. Core inflation, which excludes volatile items such as oil and food, also registered a slower rise of 2.6 percent from the previous month’s 2.7 percent, resulting in an average of 3.3 percent. Last year, October core inflation was at 4.9 percent. “The latest inflation outturn is consistent with the BSP’s prevailing assessment that inflation has likely bottomed out in October and could start to pick up slightly in the remaining months of 2019 as base effects start to INFLATION/PAGE 8
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
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 Vocalmyx performs during their first major solo show at Limketkai Center November 3, 2019. Vocalmyx is a talent of Dreamboard Artists. Helmed under producer, scout and coach Donie Galigao, Dreamboard Artists has been developing local talents here in Cagayan de Oro City for more than a decade. photo by mark francisco
PRYCE PLAZA HOTEL 8583131 Fax: 726687
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
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Misamis Oriental, ‘most coop friendly province’ ANG pamunuan ni Gobernador Bambi Emano dinhi sa Misamis Oriental nagtutok dili lamang sa pagpatuman sa mga proyekto sa kabaranggayan aron sila mahatagan sa haruhay nga kahimtang, apan lakip niini ang mga programa sa panginabuhian pinaagi sa kooperatiba nga nahimong nagmalambuon karong panahona. Kini ang hinungdan kon ngano bisan si Cooperative Development Authority (CDA) Regional Director Glenn S. Garcia, nakasulti: “Ang Misamis Oriental giisip nga most cooperative friendly province sa tibuok Pilipinas.” Atol sa tinuig nga silibrasyon sa Cooperative Month matag bulan sa Oktubre sa kapitolyo, si Mr. Garcia nagkanayon nga unta susama sa batasan ni Gobernador Bambi Emano ang makahulip kaniya sa sunod nga eleksiyon nga masinabtunon sa kabus ug matinabangon sa nagkinahanglan hilabina sa pagpalambo sa kooperatiba nga sagad
Cooperative Development Authority (CDA) Regional Director Glenn S. Garcia
maoy maduolan sa kabus nga nanginahanglan. Atubangan sa mga delegado sa nasangpit nga okasyon, aminado si Mr. Garcia nga gibantog ang Misamis Oriental sa tibuok Pilipinas isip ginikanan sa mga dagkung kooperatiba. Gani, gitawag pa ang lalawigan isip "bedrock" sa cooperative movement. "Ang Misamis Oriental, sa iyang pagdumala, nahimong most coop friendly province ang Misamis Oriental. Tinuod gyud na dili lang sa Region 10, siguro tibuok Pilipinas ang Misamis Oriental
gibantog nga ginikanan sa daghang dinagko nga mga kooperatiba. In fact gitawag na siya ug ‘bedrock’ sa cooperative movement. Diri naggikan ang mga ni-usbong nga mga dagkong cooperative. Ang iyang gipakita nga leadership ni Governor Bambi Emano, I hope nga ang mopuli sa iyaha—Kay ingon niya nga 3 years na lang man siya—unta parehas usab niya ug dughan ug pang huna-huna ngadto sa kooperatiba," segun pa ni Director Garcia. Ang kooperatiba usa lamang sa mga haligi nga
nagtuko sa programang turismo ni Gobernador Bambi Emano dinhi sa Misamis Oriental nga nahimong taytayan sa kabus nga makaduol aron matabangan sa ilang pagpanginahanglan— kabus sa Misamis Oriental ug dakbayan sa Cagayan de Oro nga karon nagmaya sa kalipay nga adunay susama ni Gobernador Emano nga mitubag sa dugay na nilang pangandoy nga makaangkon sa haruhay nga kahimtang sa panginabuhi ug pagpakabuhi ibabaw ning kalibotan.
ANZ Research sees lesser inflation factor on BSP's policy stance By JOANN VILLANUEVA, PNA
MANILA -- ANZ Research on Tuesday discounted inflation concerns as among the factors that Philippine monetary officials will look into visa-vis their policy decisions in the near term. This, after rate of price increases slowed again in October 2019 to 0.8 percent from the previous month's 0.9 percent. Deceleration of inflation rate last month brought the average rate since last January to 2.6 percent, at the lower half of the government’s 2-4 percent target band until 2021. ANZ Research forecasts domestic inflation rate to remain within-target until next year.
"Therefore, inflation will play second fiddle to growth concerns at the central bank's next few policy meetings," it added. In a report, ING Bank Manila lead economist Nicholas Mapa expects inflation upticks as early as December. He said the expected rise to within-target levels of inflation rate in the coming months will play a role in the Bangko Sentral ng Pilipinas' (BSP) policy stance as BSP Governor Benjamin Diokno "looks to give the domestic economy an added boot amidst the projected global slowdown." "With inflation forecasted to remain within target even after
base effects wash out, the BSP will continue to work to provide an environment conducive for economic growth for as long as the price objective is in hand," he said. Mapa projects inflation to average at 3.1 percent next year, and for the BSP to further slash key rates by 50 basis points starting in the first quarter. To date, the central bank's policy-making
Monetary Board (MB) has cut the BSP rates by a total of 75 basis points after inflation sustained its drop since peaking to 6.7 percent in September and October last year. The elevated inflation rate, caused particularly by the rise in domestic rice prices due to supply issues, prompted the monetary officials to hike key rates to reign in inflation expectations. (PNA)
Warning...
within the target band, noting that “global crude oil prices have started to st abi li z e fol low i ng t he recent volatility caused by geopolitical tensions in the Middle East.” It also said “deepening trade tensions between China and the US, along with other countries in the region, have raised global economic uncertainty, which pose a downside risk to the inflation outlook.” “The BSP will continue to keep a close watch over latest economic developments here and abroad to ensure that the monetary policy stance remains consistent with the BSP’s price stability objective while being supportive of economic growth,” it added. (PNA)
from page 5
Under Section 8 of the Securities Regulation Code, securities shall not be publicly offered for sale or distribution in the Philippines without a registration statement filed with and approved by the SEC. The SEC s aid t hes e companies’ salesmen, brokers, dealers or agents that are found to have been soliciting investments or recruiting investors face a maximum fine of P5 million or a 21year imprisonment.
Inflation... from page 7
dissipate,” the BSP said. It projec ted average inflation this year to stay
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For NOMINATIONS of ENTRIES ON THE FOLLOWING CATEGORIES, please send photo and company/contestant profile to Mindanao Daily/BusinessWeek Secretariat, Tanleh Bldg, Abellanosa St., Cagayan de Oro City, or email to amediante@gmail.com Mega-Entrepreneur Outstanding Women Business Leaders Micro-Entrepreneur Social Entrepreneur Housing Industry leaders Auto Industry Leaders Tourism Industry Leaders Transport Industry Leaders Hotel Industry Leaders Resort Industry Leaders Agro-Industry Leaders Best Environmental CSR ENTRY REQUIREMENTS: 1. Nominees or candidates in various categories shall be nominated by an individual, organization or group or the Local Government Units. 2. Nominations shall be accompanied by the following documents which can be mailed, or emailed to the awards secretariat not later than November 15. - Brief Resume and History of the Nominee (Individual or Firm) - Photos (at least 3); Nomination Form; Documentary evidence such as certificates, awards or citations. SELECTION PROCESS: The Board of Judges shall be composed of known personalities from the Media, Business Community, the Academe, and select government institutions invited by the Awards Secretariat -Entry forms and documents shall be furnished to each of the five judges -Entries shall be published in the BWM & MDN and other newspapers -Results of the Selection Process shall be published in newspapers and other media outlets. Awardees shall be personally informed by the Secretariat thru mail, or email. - RATIONALE OF THE PROJECT The achievements of various Mindanao business leaders and entrepreneurs need to be recognized, not only by government institutions and social awards bodies but from the media as well. BusinessWeek Mindanao as a forerunner of information on the various business leadership and entrepreneurial strides of Mindanaoans deem it as a part of its social responsibility to trumpet such achievements for others to emulate and thus propel a Mindanaoan consciousness in every economic and business stakeholder, whether small or great, the responsibility to help Mindanao achieve sustainable development of its economy. - MISSION & VISION OF THE AWARDS The holding of BWM Awards annually would serve as catalyst for a continued and concerted effort of business leaders and entrepreneurs to seek greater heights and strive for success in the noble mission of propelling Mindanao and its people towards full economic growth and sustainable development.
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Projects... from page 1
City in Davao City; and power plants in Basilan, Sulu and Tawi-tawi, the agency said in a statement posted on its website. SPDA Administrator Abdulghani A. Salapuddin said the 17-member Qatar delegation would include a team from the Qatar Fund For Development. The businessmen will visit Manila on Nov. 4 to 8, according to the agency, which has yet to value the proposed Mindanao projects. Qatar Airways started flying once a week between Doha and Davao City — the main gateway to Mindanao — in June.
Reship... from page 1
“Despite the understandable delay, we welcome the assurance made by the BOC-Region 10 that the remaining trash from South Korea in [Misamis Oriental] would be returned to their source before the year ends,” the coalition’s national coordinator Aileen Lucero said. She said Filipinos are anticipating the complete reshipment of the “misdeclared” waste imports to the port of Pyeongtaek, South Korean in November or in December. The provincial government has provided “tonner bags” that would be used in repacking the trash
and heavy equipment that would be deployed to fasttrack the whole process. “Without these specialty bags, the transfer of the wastes to the container vans would not be possible,” Lucero said. “ We a l s o l a u d t h e provincial government for allocating the necessar y bu d ge t to p ay for t he personnel and the equipment for the cleanup of the storage site in Tagoloan, including (a) portion of it that caught fire last August,” she added. Lucero said the concerted action of local government and Customs authorities “reflects their commitment to protect the people, their health and their environment from the negative impacts of foreign waste dumping.” BOC-10 district collector John Simon said the provincial government of Misamis Oriental has allocated more than a million pesos for the repacking of the 5,177 metric tons of mixed garbage now stored at a facility inside the premises of the Phividec Industrial Authority in Sitio Buguac, Barangay Santa Cruz, Tagoloan, Misamis Oriental. The decision to reship the waste from Pyeongtaek, South Korea came after the consignee, Verde Soko Philippine Industrial Corp. failed to comply with some requirements of the BOC and the environment department. Verde Soko officials said the imported plastics were intended as materials for the company’s recycling plant that would make pellets and
briquettes to be used in the manufacture of exportable furniture and other items. Early this year, about 1,400 metric tons of mixed wastes consigned by Verde Soko were returned to South Korea. Misamis Oriental Provincial Board member Gerardo Sabal III said the provincial government has allocated PHP1.4 million for the purchase of 4,000 tonner bags and heavy equipment. Simon, meanwhile, said they have the whole of November to finish the re-bagging of the garbage. “It’s a long process. Putting the trash in bags won’t be an easy job. You need manpower and equipment to do that,” he said, adding that the South Korean government has committed to shoulder the expenses of the reshipment. Lucero said they are hoping the re-export of the garbage will start or be completed by Dec. 5, 2019, when the Basel Ban Amendment will enter into force. The Basel Ban Amendment prohibits the export of hazardous wastes for all reasons, including recycling, from rich countries belonging to the Organization of Economic Cooperation and Development (OECD), the European Union (EU) and Liechtenstein to developing countries like the Philippines, which has yet to ratify the said amendment to the Basel Convention. “Ratifying the Basel Ban Amendment and further
Republic of the Philippines SUPREME COURT Regional Trial Court of Misamis Oriental 10th Judicial Region Branch 44 Initao, Misamis Oriental 1st NOTICE OF EXTRAJUDICIAL SALE EJF File No. D-2019-390 Upon extra-judicial petition for sale under Act 3135 filed by BPI Family Savings Bank, Inc., a corporation duly organized and existing under and by virtue of the laws of the Philippines with principal place of business at BPI Family Bank Center, Paseo de Roxas, corner De la Rosa Sts., Makati City, herein represented by Maria Theresa C. Toring, its Assistant Manager for its Cagayan de Oro Branch with business address at BPI Bldg., C.M. Recto Ave., Lapasan, Cagayan de Oro against Sps. Armand Glenn C. Pagute and Jonalita G. Pagute, legal ages, with residence and postal address at Purok 13, Poblacion, Manticao, Misamis Oriental, to satisfy the mortgage indebtedness which, as of September 11,2019 amounts to EIGHT HUNDRED EIGHTY NINE THOUSAND FOURTEEN PESOS AND SENVENTY EIGHT CENTAVOS (Php 889,014.78), Philippine currency, plus the stipulated interest and penalty accruing thereafter, and attorney’s fees, the undersigned or his duly authorized deputy will sell at public auction on December 17,2019 at 10:00 a.m. or soon thereafter at the main entrance of the office of the Regional Trial Court, Branch 44, Initao Misamis Oriental to the bidder, for cash and in Philippine currency, the following property with all their improvements, to wit: TCT No. 136-2016000099 A PARCEL OF LAND, (Lot 3, PCS-10-000317 OF THE CONSOLIDATION PLAN SUBDIVISION OF LOT 1-D-4 & PSD-1-D-7, PSD-10-005807) SITUATED IN THE MUNICIPALITY OF MANTICAO, PROV. OF MIS. OR., ISLAND OF MINDANAO BOUNDED ON THE N., ALONG LINE 1-2 BY LOT 1-D-8; ON THE E., ALONG LINE 2-3 BY LOT 1-D-C, BOTH OF PSD-10000587; ON THE S&W., ALONG LINE 3-4-1 BY LOT 2 OF THE CONSOLIDATION PLAN PCS10-000317. BEGINNING AT A POINT MARKED “1” ON THE PLAN BEING N. 52 DEG. 17’E., 1883.87 M. FROM BLBM NO. 1, MANTICAO,MISAMIS ORIENTAL; THENCE XXXXXXXXXX CONTAINING AN AREA OF SIX HUNDRED TWENTY (620) SQUARE METERS MORE OR LESS XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX Prospective buyers may investigate themselves the title hereinabove described and encumbrance thereon, if any there be. In the event that the auction should not take place on the said date, it shall be held immediately on the next working day without further notice. October 7, 2019 at Initao, Misamis Oriental, Philippines.
prohibiting the export of all wastes to the Philippines will be our best legal protection against waste trafficking that has outraged the whole nation with the seizure of thousands of tons of illegal waste consignments from Canada, Hong Kong, and South Korea,” she added. (PNA)
Lending... from page 5
previous month. Roces said the RRR cuts were made partly to increase liquidity in the domestic economy to encourage banks to lend more for infrastructure projects, among others. He, however, noted that the expected results have not been seen so far. “However, we think that the slow rate in bank lending growth remain reasonable in the interim,” he said, pointing out that the third policy rate cut was made only last September wherein BSP Governor Benjamin Diokno indicated that they are done with the policy reduction this year. Roces said “uncertainty of further policy cuts until then may have caused borrowers to hold off taking out loans.” He also said the “money supply growth, in theory, should precede loan growth due to a lag in liquidity absorption.” He remains optimistic for faster loans and M3 growth in the coming months in line with the government’s catchup spending program aimed
BPI...
from page 5
Asked how much BPI has allocated for their technologyrelated spending, Jocson declined to give specific figures, noting that “it is a part of our whole IT (information technology) budget.” He said major banks in Asia allocate about 7.5 percent to 8
percent of their total revenues to IT budget. “We also allocate about the same level,” Jocson said, noting, however, that “within that, we now have to mix digital finances with that of other IT-related expenditures.” “We have to mix that because it’s very hard also to overspend,” he added. On Tuesday, the bank launched its digital ecosystem, which has two components -Open Banking and BPI Digital Platforms. “We are capitalizing on this to grow our network of trusted partners so that clients can easily and conveniently transact via one app or website,” he said. The bank has partnered with nine entities with 36 services, such as Lazada, GCash, and Paymaya, to further aid their clients’ needs. It also launched its conversational banking app called “Bea of BPI”, which serves as a personal banker. (PNA)
Publication Notice R.A 10172
Republic of the Philippines OFFICE OF THE MUNICIPAL CIVIL REGISTRAR Salay, Misamis Oriental NOTICE TO THE PUBLIC
In compliance with Section 7 of RA No. 10172, notice is hereby served to the public that Courtney C. Edquila has filed with this Office a petition for correction of clerical error particularly in her SEX from MALE to FEMALE in the Certificate of Live Birth of Courtney C. Edquila who was born on September 21, 1993 at Looc, Salay, Misamis Oriental and whose parents are Buenaventura A. Edquila and Vilma A. Cabotad. Any person adversely affected by said petition may file his written opposition with this Office not later than November 7, 2019.
(SGD) MARCEL L. CUI Municipal Civil Registrar
MDN: Oct. 30 & Nov. 6, 2019
Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10TH Judicial Region Branch 19 Cagayan de Oro City IN THE MATTER OF ADOPTION OF THE MINOR SYD DANIEL AND TO CHANGE HIS NAME TO SYD DANIEL ARANZADO TAN
R-CDO-19-03171-SP
SPOUSES DIVINE GRACE ARANZADO TAN & SAMSON ALARAN TAN, Petitioners. x---------------------------------------------------------/ ORDER Finding the Petition to be sufficient in form and substance, the same is hereby given due course. Let the Initial Hearing thereof be set on January 20, 2020 at 8:30 o’clock in the morning before this Court located at Hall of Justice-Cagayan de Oro City, Goldridge Building, Masterson Avenue corner Pedro N. Roa Avenue, Upper Carmen, Cagayan de Oro City. Interested persons may file their opposition on or before the aforesaid date of hearing and to attend the hearing of this Petition. At the expense of the Petitioners, let this Order be published once a week for three (3) successive weeks in a newspaper of general circulation in Cagayan de Oro City and the Province of Misamis Oriental. The Court Social Worker is hereby directed to conduct a Home Study on the adopting parents and a Child Study on the adoptee, reports of which shall be submitted to this Court within SIXTY (60) days from receipt of this Order. She is also directed to conduct counselling sessions with the adopting and biological parents. Petitioners are likewise ordered to have all their documentary evidence including their Judicial Affidavits of that of their witnesses pre-marked before the Acting Branch Clerk of Court to establish compliance with jurisdictional requirements on January 13, 2020 at 2:00 o’clock in the afternoon, failing which this shall not be calendared for initial hearing and/or appropriate sanction imposed.
IT IS SO ORDERED.
Done this 7th day of October, 2019, in the City of Cagayan de Oro, Philippines.
(SGD) JAY FRANCIS C. RATUNIL Sheriff IV BWM: Oct. 23, 30 & Nov. 6, 2019
to address inability to meet expenditure program in the early part of the year due to the delay in the approval of this year’s national budget. “A n d w it h t h e pre announced 100 bps reduction to the RRR each for November and December, borrowing and mone y supply are projected to continue going up well into 2020 where we expect around 200 to 300 bps of further reductions to the reserve ratio and likely in a front-loading manner similar to the present policy,” he added. (PNA)
BWM: Oct. 23, 30 & Nov. 6, 2019
(SGD) EVELYN J. GAMOTIN-NERY Presiding Judge
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Energy... from page 6
a global problem. “Climate change is a global problem with grave implications: environmental, social, economic, political and for the distribution of goods. It represents one of the principal challenges facing humanity in our day. Its worst impact will probably be felt by developing countries in coming decades. Many of the poor live in areas particularly affected by phenomena related to warming, and their means of subsistence are largely dependent on natural reserves and ecosystemic services such as agriculture, fishing and forestry.” (LS, 25) Fr. Yap said Pope Francis is clear that there is only one crisis which is both environmental and social. “There is an urgent need to develop policies so that, in the next few years, the emission of carbon dioxide and other highly polluting gases can be drastically reduced, for example, substituting for fossil fuels and developing sources of renewable energy. Worldwide there is minimal access to clean and renewable energy. There is still a need to develop adequate storage technologies.” (LS, 26) The Mindanao Coal Dilemma “I quote these very wise, challenging and disturbing words from Pope Francis to set the tone for the CELLs project. Situating this in Mindanao, we know that a few years ago we were suffering from power shortages, we had many brownouts which would last for several hours, then we were able to solve that problem,” Fr. Yap related. “But unfortunately if we look at the many power plants that have been built these past few years and helped us become an energy surplus region now in Mindanao, most that have been built still use coal, the very models of production and consumption, and energy usage that is very much linked to the causes of climate change,” he stressed. “Xavier is very proud and happy that we can contribute to p ol i c y for mu l at i on , through research, capacity building, technical assistance, that we can really address and promote the use of renewable energy. And I hope we will be able to show good examples, even small examples that really renewable energy is possible and sustainable and really beneficial to communities, especially for poor communities in the peripheries.” Key Legislations “In the European Union we aim to have a 40 percent target reduction on greenhouse gas emissions by 2030, and hopefully attain 45 percent reduction in greenhouse gas emissions compared to 1990 emission levels,” Seritella noted. “Besides that, the EU last November has developed an energy policy that will allow EU to be climate neutral with zero gas emissions by 2050.” DOE vigilant
Still, Fuentebella expressed the need to be circumspect in evaluating the implications of such projects, especially on their implications on the national treasury. “We have to clos ely examine our engagement with the European Union because they are sincere in helping. But still, we have to be on guard for every detail: interest, where the product comes from, who really benefits from it, what are the terms and conditions. At the end of the day, it’s easy to make decisions, especially when it’s not our pockets which are involved. But when taxpayers money is involved, then we have to be extra careful,” he noted. Fuentebella also admitted the difficulty of attaining an optimal energy grid for a particular area. “Renewables mixed with fossil fuel are reliable but not easy to achieve. Even geothermals have environmental costs, and are capital intensive. Which is why DOE is not so keen on pushing renewables to consumers? We want you take your time. We want you to be detailed in your studies, because once you make commitments, you should be ready,” he stressed. “The competitive selection should be well-rounded, it should be filled with details, and we have experts here who would give you advice, but we should never lose our dignity, always put the interests of our country first, and be meticulous. Just because it’s the current trend doesn’t mean we should adopt it,” he added. Never theless, Ro el Ravanera, Xavier Ateneo Vice President for Social Development, welcomed the project as timely and significant. “ASEP-CELLs is a novel initiative that will have significant impact in ensuring inclusive development in the country, especially here in Mindanao. With its focus on rural electrification, it will provide basic services and more opportunities for people in the rural areas better chances of overcoming extreme poverty,” Ravanera said. “Equally important is its bias for renewable energy that will ensure sustainable development amidst the worsening global climate crisis,” he added. In closing, Fr. Yap said, “I pray that this project will be blessed by our Lord and that we will really work in cooperation with each other as we address energy poverty and security for an inclusive and resilient Philippines.”
See...
from page 4
A successful businessman I know wears a shirt with these words on it: “Don’t pursue your dreams. Chase ‘em down and tackle ‘em!” You only get one life to live, so why not live the best life possible? And doesn’t it make sense that the One Who invented it is the One Who knows the best way to
live it? So ask Jesus Christ to forgive you for living your own way, and to take charge of your life every day. He’ll help you start seeing and being the success He created you to be—so you can be fully satisfied with what you see and get in life. Just Think a Minute…
Summit... from page 4
emerged as a beacon of unity in Southeast Asia, although it has often struggled to find consensus among members over ke y p olic y issues affecting the region's politics, security and the economy, among other things. Te n s i o n s o v e r t h e contested South China Sea were also on the agenda at the ASEAN gathering. After meeting with leaders, Chinese Premier Li Keqiang said Beijing was ready to work with countries in the region to ensure long-term peace and stability. Li said significant progress had been made on a legally binding code of conduct, which is due to be completed by 2021. The document has long been an aim for ASEAN countries, which reject China's vast maritime claims and accuse Beijing of encroaching on their territory. ASE A N is ma d e up of Indonesia, Thailand, Singapore, the Philippines, Malaysia, Vietnam, Brunei, Cambodia, Myanmar and Laos. Leaders were also due to discuss air pollution, illegal fishing and further economic cooperation before the summit ends today on Monday. All very important topics. I wish and pray this summit wouldn't end up with empty words. +++ Email: doringklaus@gmail. com or follow me in Facebook, Twitter or Linkedin or visit my www.germanexpatinthephilippines.blogspot.com or my www.klausdoringsclassicalmusic.blogspot.com.
Board... from page 4
judgments to the detriment of the business and the other shareholders/relatives. Non-executive or Independent directors (NED/ ID) can assist with some of the issues most family enterprises face since they can speak without fear of retaliation other than being removed from the board. This allows the ID to speak their mind and raise sensitive issues minus the emotional clutter that’s prevalent in many family enterprises. Family expert Prof John Ward accurately pointed this out in one of his articles, “The realm of business is dynamic and unpredictable. Companies are constantly reacting to evolving markets and competition. Family businesses face the added cha l lenge of b a l ancing business and family issues in strategy. Business change inevitably creates stresses that impact both management and ownership interests. In this setting, the board
of directors has the special role of assuring the strategic alignment of business and ownership interests.” esoriano@wongadvisory. com
Forever... from page 4
of negativity in thoughts, desires, feelings and words. Try to avoid keeping grudges. These tire and age our spirit fast. If we cannot say anything good or positive, it’s better just to keep quiet. When some critical thoughts come, and they can come quite spontaneously, tr y to banish them as soon as possible. Smiling also helps a lot. Even in physical terms, it makes us look younger, removing many years away from our face. Let’s always have a good disposition whatever the situation. All of these can only happen if we are truly identified with Christ.
Trade... from page 1
focus areas. As the world sees developments under the New Globalization unfold, Montenegro said that the BIMP-EAGA’s characteristics can potentially boost trade in the subregion which, e v e n t u a l l y, c a n h e l p Mindanao develop. “BIMP-EAGA, as an economy, accounts for one fifth of the total [gross domestic product] of ASEAN. Ganun kalaki ang economy ng BIMP-EAGA,” Montenegro said. He also noted that BIMPEAGA sees its strength in terms of being “a major food basket” as well as having the world’s richest biodiversity areas. With many common characteristics among the four member-states, Monte ne g ro s aid many have wondered how the Philippines, particularly Mindanao, can stand out. While there maybe skeptics about Mindanao’s capability to trade given the similarities in items produce in this sub-regional grouping, Montenegro said that BIMP countries can do complementation trade. “ We’r e n o t l o o k i n g at trading the same thing, we are looking at complementation [of products],” he narrated, adding that Mindanao can look at producing goods and products that are needed in other member-states. He said Japanese car companies have production and ass e mbly f a c i l it i e s in s e vera l count r ies in A S E A N a l r e a d y. “ I n t h e c a s e of Mi n d an a o, d on’t w ant to c omp e te with CAL ABARZON in producing semiconductors and electronic products— that is not our strength. Our strength is in the agri sector—where 40 percent of the country’s food trade come from and where 60 percent of jobs created in Mindanao are related to the agriculture value chain,” he added. Furthermore, Mindanao can also look at participating
in the global value chain through its agriculture sector, which according to Montenegro, can “create a dent in terms of reducing poverty in the region.” He, however, emphasized the dire need for connection in this sub-regional grouping. The promising future of Mindanao under the BIMPEAGA will only be possible if the region’s connectivity— transportation and communication—to other member-states is improved, Montenegro emphasized. He urged the national government to provide the necessar y infrastructure s u p p o r t t o M i n d a n a o, lamenting the minimal financial resources allocated to the region. “Up until today, we are only getting 12 percent of the national budget. [For] the Department of Transportation budget alone, 90 percent is in Luzon [while] only 3 percent is allocated
to Mindanao. At l e ast , [ w it h t he ] Department of Public Works and Highways, 40 percent of the annual public works budget is already allocated to Mindanao,” Montenegro said. He noted, however, that with the creation of the BIMP-EAGA Vision of 2025, “around USD 21 billion worth of projects were identified” with half of it accounting for infrastructure projects in Mindanao and Palawan. The MPRF is a regular event jointly undertaken by the Philippine Institute for Development Studies (PIDS) and MinDA, in partnership with a local university. This year, PIDS and MinDA collaborated with Mindanao State UniversityGenSan campus. Launched in 2015, the MPRF is part of a series of activities organized every September to celebrate the Development Policy Research Month. (PNA)
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LIFESTYLE IN-DEPTH
Wednesday|November 6, 2019
Ravenstagg puts CDO in Miniatures World Map A
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By TITO MIKE
CAGAYAN de Oro based independent artist studio which paints miniatures has placed Cagayan de Oro in the Miniatures World Map, and its clientele is growing. David T. Roa of the start-up indie Ravenstagg Creative Studios said the majority of their art pieces are miniature figures and busts and some collectible figure alternations on the side. “We work through a home studio. Painting figures is our primary focus but also write.” Dave started painting miniatures for clients some four years ago when he purchased a board game called “Mansions of Madness” "Mansions of Madness" with unpainted miniatures. “I ended up painting them and it became therapeutic for me. I've been painting ever since.” However, his motivation to paint arose much earlier with his passion for playing games. “I grew up playing
games. It did not matter what they were. Traditional Pilipino games, computer games, and board games.” In fact, he was given a bunch of miniatures when they were in high school by a friend who left for the US. “I did not paint them very well and then I forgot about them." He initially started painting for local clients but as his skill developed and the quality of his work improved over time he found it was getting more and more difficult to find clientele who could pair a fair wage for them. “So I had a choice: paint lower quality minis to stay relevant in the market, or keep growing and ratcheting up the quality but look for patrons elsewhere.” He chose the latter and initially accepted commissions from Cebu and Manila, then gradually made his way into the international scene as satisfied clients referred him to their friends in other countries. “Now, most of my
Agrona She-Orc: This piece I am particularly proud of because it’s my current best as a portrayal of a non-human skin tone. Skin tones are particularly tricky as the human brain is hardwired to recognize it. I used a combination of wet-blending and glazing to get the skin tones right; as well as a combination of stippling and layering for the leather and cloth.
commissions come from abroad, and most of them are fellow artists (sculptors) who I collaborate with to launch their own art pieces. I'm planning to remove the region lock on our studios page very soon and open it to the rest of the world.” Besides painting of miniatures, Ravenstagg also does Tabletop Terrain painting; 3D printing on demand and output painting. On top of those, Dave is also a Private Tabletop RPG
Session Producer, Facilitator, and Games Master. A visit to his FB Page Ravenstagg Creative Studios features a growing clientele for keycaps but Dave said they’re not Ravenstagg’s bread and butter. “I used keycaps as a means to survive. Since artists aren't paid very well in the Philippines, let alone Cagayan de Oro, I had to find creative ways to make a living. My first keycap commission introduced me to the mechanical keyboard
Malifaux: A personal project with my own figures and my fiancé’s figures. I seldom experiment on my patrons’ commissions, so I do that with my own miniatures. I cut my teeth on high quality speed painting, multilayer drybrushing, wet blending, and stippling in the same project. And it turned out much better than expected.
Artisan’s Guild Amazons: A commission borne out of an artist-to-artist collaboration. They’re an up-and-coming 3d-sculpting studio whose figures lend their details very well to my brush. They contacted me to paint their minis for one of their member’s first Kickstarter Campaign. My first collaboration on a kickstarter campaign as a painter.
community and I've been getting commission ever since. Most of the time it's a welcome distraction. But it does get tedious at times.” As to keycaps not being their main thing, Dave replies: “There's a point of contention there. I understand that I NEED to make money to survive. So I DO work at it professionally. But the way I've built myself up and the studio is more to the lines of Artist first, entrepreneur second. “The therapeutic element is only one of the many reasons I do it. Keycaps range from P550 to 1,550 on average, with custom jobs and more complicated commissions costing more.” “But I'd like to reiterate that keycaps aren't our primary focus, the majority of our art pieces are miniature figures, busts,
and some collectible figure alternations on the side,” he added. As to the etymology of the name Ravenstagg, Dave explains: It's a portmanteau of my spirit animal / totem (the Raven) and my fiancé's spirit animal / totem (the Stag). The Raven is a keeper of secrets, a bearer of hidden wisdom, and a guide to those who walk in shadow, The Stag is noble, regal, steadfast, and loyal. “Thought it would be fitting since we both started this venture together. Although I am the main artist who does most of the pieces, she also assists in certain paint jobs, crafts, and quality control/assessment. Interested parties who’d like to get in touch with Ravenstagg Creative Studios can contact them through their webpage.
Rising Sun: Another personal project, this is the largest project I’ve committed to. Completed while I was still working a 9-5 job over the course of 4 months. Much time and effort was our into this collector’s edition board game and I’ve turned down multiple offers to sell it, even for enormous prices.