BusinessWeek Mindanao (November 9-10, 2013)

Volume IV, No. 20

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Market Indicators As of 6:13 pm NOV. 8, 2013 (Friday)

FOREX

PHISIX

US$1 = P43.20

6,355.18 points

1 cent

X

81.31 points

X

Briefly Zero casualty MISAMIS Oriental reported a zero casualty during the onslaught of Typhoon “Yolanda” (int’l codename Haiyan), the world’s strongest typhoon this year.

Provincial administrator Edmundo Pacamalan, Jr. said the province attained a zero casualty due to preemptive measures adopted by the Provincial Disaster Risk Reduction and Management Council (PDRRMC) two days before Yolanda arrived.

He said that as a preemptive measure, the provincial government has established 193 evacuation centers in the province where more than 43,000 individuals have been evacuated.

According to Pacamalan, the PDRRMC has now entered the “augmentation stage” where depleted supplies such as medicines and foods is being replenished in the municipal level.

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Iligan’s power plant lifts Alsons revenues

H

By IRENE DAYO, Reporter

IGH revenues from its power generation business in Mindanao has bolstered Alcantara Group’s holding firm Alsons Consolidated Resources, Inc. (ACR) revenue during the first three quarters this year.

In its financial statement submitted to the Philippine Stock Exchange, Alsons disclosed that its net income from January to September this year has reached P793.1 million, about 6 percent higher than the P747 million it posted during the same period last year.

ACR’s total earnings grew

by 42 percent to P2.34 billion from P1.65 billion.

The higher profit is attributed by the company to its aggressive foray in power generation, particularly citing substantial share from the newly-rehabilitated 98-megawatt power facility in Iligan City operated by its subsidiary Mapalad Power

Corp.

The Iligan diesel-powered plant, which the company acquired f rom the city government, began operating in the first half of 2013 with a total capital outlay of P1.3 billion.

The plant under went rehabilitation and reached its full 98-MW capacity ahead of schedule on September 2013 which helped ease the prevailing power shortage in Mindanao.

The company also operates two other power generation facilities in Mindanao: the Southern Philippines power/PAGE 11

HIGHER REVENUES. Alcantara group’s Mapalad Power Corp. diesel-powered facility in Iligan City. The newlyrehabilitated plant generates revenues that lifted Alsons profit by 6% from Jan-Sept this year.

More investments in fisheries sector urged

By DANIELLE VENZ, Contributor

Biz permits ZAMBOANGA City -- Mayor Ma. Isabelle Climaco-Salazar has called on the business sector to renew their permits the earliest time possible to avoid the rush and payment of penalties.

Salazar made the call as the city government last week started receiving applications for renewal of business permits for next year.

Under the law, the deadline set for the payment of business taxes is January 20, 2014.

Salazar said that late payments will mean 25 percent surcharge and 2 percent additional penalty for every month of delay.

P15.00

November 9-10, 2013

AFTER THE STORM. Residents of Barangay Kabulig, Jasaan town in Misamis Oriental bring out their net to catch fish in the river after super typhoon “Yolanda” left the province without reports of casualties on Friday, Nov. 8. mindanews photo by froilan gallardo

BSP warns:

‘Yolanda’ will fuel spike in prices TYPHOON ‘Yolanda,’ the world’s biggest storm to make landfall, is likely to drive inflation higher, a Bangko Sentral ng Pilipinas

(BSP) official said yesterday.

“Prices of basic commodities might be pushed somewhat higher but the impact on the whole

year 2013 inflation might be muted so the target will in all likelihood be met,” BSP Deputy Governor Diwa prices/PAGE 11

Mindanao Daily NEWS

THE government needs to invest more in the fisheries sector to enhance its export competitiveness and boost preparations for the 2015 ASEAN economic community (AEC) .

In a study, Philippine Institute for Development Stu d i e s ( P I D S ) S e n i or Research Fellow Danilo Israel

said additional funds in the construction and proper maintenance of port and roads infrastructures and cold chain is necessary.

Israel noted that cold chain and warehousing and specialized storage facilities are important particularly to exporters of frozen fish who more/PAGE 11

THE PHILIPPINE Deposit Insurance Corp. (PDIC) will auction off later this month P39.1 million worth of real properties previously owned by shuttered banks.

Up for bidding are 177 commercial and residential lots located in various provinces of Mindanao, such as Zamboanga

del Norte, Zamboanga del Sur, Zamboanga Sibugay, Bukidnon, Camiguin, Lanao del Norte, Misamis Oriental, North Cotabato, South Cotabato, Sarangani and Sultan Kudarat.

Prospective buyers are advised to physically inspect pdic/PAGE 11

PDIC to auction Mindanao properties

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PLDT international arm ‘Yolanda’ wrath disrupts Globe eyeing 25% growth services in Visayas, Mindanao HONG KONG - T h e international sales and marketing arm of Philippine Long Distance Telephone Co (PLDT) expects to grow its earnings by a quarter this year.

Alex Caeg, president and chief executive of PLDT

Global Corp, told Filipino reporters the telco flew in here, that the company is looking at $50 million this year from last year’s $40 million.

For next year, Caeg said the company expects to PLDT/PAGE 10

GLOBE Telecom yesterday said Typhoon ‘Yolanda’ has led to “minimal disruption” in its service in the Visayas and Mindanao.

A fifth of the Ayala-led telco’s network in the Visayas was “adversely affected” as of 12 noon, Global chief technical adviser Robert Tan said in a statement.

Affected areas include Biliran, Cebu , Eastern Samar, Leyte, Northern Samar, Southern Leyte, Western Samar and Iloilo.

Six percent of its Mindanao network likewise was down, Tan said. These areas include Camiguin, Dinagat Island and Surigao del Norte.

Globe blamed the service disruption in the Visayas

o n c o m m e r c i a l p ow e r interruption brought about by strong winds. The telco said the antennas of some cellular sites were misaligned.

“Rest assured that our technical team is available to address network issues as soon as it is safe for us to do so. We have mobilized our technical personnel to work 24/7 to restore text, call and data services as soon as possible,” Tan said.

He said the company’s resiliency and redundancy measures have worked to minimize network disruption caused by the super typhoon.

Visayas BPOs lock down at height of typhoon A NUMBER of business process outsourcing (BPO) companies in the Visayas temporarily stopped operations amid the onslaught of Typhoon ‘Yolanda’.

Information Technology and Business Process Association of the Philippines (IBPAP) president Jose Ma r i P. Me rc a d o t o l d

InterAksyon.com that firms had to prioritize the safety of employees, who would have difficulty going to work amid the harsh weather.

“Some [companies] shut down, some went on lean operations. Our priority stays--safety and security of employees,” Mercado said. lock/PAGE 10

SEC approves P10-B bond offer of Aboitiz Equity THE Securities and Exchange C ommission (SEC) has approved conglomerate Aboitiz Equity Ventures, Inc.’s (AEV) P10-billion retail bond offering.

In a disclosure, AEV said the SEC shall declare

effective the registration statement covering the fixed rate corporate retail bonds upon its compliance of certain conditions, including submission of certain documents.

Aboitiz/PAGE 10

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NFA to buy palay from farmers in typhoon areas THE Department of A g r i c u l t u r e ( DA ) h a s deployed field units to assist farmers in areas along the path of Typhoon ‘Yolanda’.

“As there are palay crops located along the typhoon’s projected path that have yet to be harvested, regional field units will provide farmers with combined harvesters and dryers to make the process faster and more efficient,” Agriculture Secretary Proceso Alcala said.

“As you can see, [Oriental] Mindoro is one of our major suppliers of rice here in Manila. Many of the farmers have already harvested their

crops, but reports showed that their harvest season will be up to end of November.

So this really concerns me,” he said.

Alcala also ordered the National Food Authority ( N FA ) to sto ck up it s warehouses in areas along the typhoon’s path to ensure stable supply of affordable rice.

“N FA shou l d b e on standby if ever we need to deliver additional rice supply in typhoon-battered areas,” he said.

Apart from providing rice, the NFA is also ready to buy palay from farmers in areas affected by the typhoon.

Coco oil exports up 49% in first three quarters AN improved supply of copra and an increased demand abroad have seen Philippine coconut oil exports rise by 49 percent in the first nine months of the year according to the United Coconut Association of the Philippines (UCAP).

The group said coconut oil exports from January to September reached 902,009 metric tons, up from 607,173 MT in the same period in

2012. In September alone, the country exported 74,769 MT of coconut oil against 73,552 in September last year.

“We had increased supply of copra in the first half of the year and demand also increased in key markets like the US and Europe,” UCAP executive director Yvonne Agustin said. The price of coconut oil has coco/PAGE 10

AgriBusiness

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Govt cites need to boost agri productivity, competitiveness GROWTH in productivity and competitiveness of the agriculture and fisheries sector remains a key goal of the Philippine government for poverty reduction towards inclusive growth, according to the National Economic and Development Authority (NEDA).

“In the updating of the Philippine Development Plan (PDP) 2011-2016, the government continues to uphold the elements that will meet the challenges of transforming agriculture and fishery into a highly productive and competitive sector that not only meets the country’s food requirements but also offers better income and employment opportunities,” said NEDA Agriculture, Natura l Res ources and Environment Staff Director Mercedita A. Sombilla.

Sombilla, who spoke on behalf of Socioeconomic Planning Secretary Arsenio M. Balisacan during the 49th Biennial Convention of the Philippine Agricultural Economics and Development Association (PAEDA) in Bukidnon, identified the main constraints to further increasing productivity in

agriculture. These constraints, she said, include inadequacy of efficient infrastructure system, degradation of natural resources that has been further threatened by climate-related risks, and slow development of agribusiness opportunities.

“In this regard, improving agricultural productivity requires measures

and st rateg ies such as investing in human capital development and research and development,” she added.

Sombilla said that the updated PDP 2011-2016 calls for appropriate policies and more investments in agricultural public goods and support services that would increase production, enhance the capacity of the sector for

value adding, diversifying production, and establishing market linkages throughout the supply chain.

“To encourage farmers to invest, policies will be enhanced to secure long-term individual property rights and to insure farmers against risks such as weather-related shocks,” she said. agri/PAGE 10

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METROPOLITAN Bank & Trust Co.’s (Metrobank) net income more than doubled as of the third quarter as trading gains and one-off asset sales boosted non-interest income.

As of September, the Ty-led bank’s unaudited consolidated net income soared to P20.69 billion, surging 102.49% from the P10.218 billion notched in the same period last year.

“Key performance drivers include the steady growth in core revenues, robust expansion in treasury and investment activities, and increase in other non-interest income,” Metrobank said in a disclosure yesterday.

The bank’s total operating income climbed 45% yearon-year to P60.3 billion as of September.

Non-interest income soared 75.03% to P32.722 billion from P18.695 billion, propelled mainly by trading gains from securities and foreign exchange.

They brought in P14.68 billion as of the third quarter, more than double the P7.192 billion last year.

Service charges, fees and commissions added P6.443 billion, steady from the previous year.

Metrobank added: “The increase in other non-interest income was mainly due to gains from one-time sale of non-core assets in previous quarters.”

Miscellaneous income totaled P11.599 billion, 111.93%

up from P5.473 billion.

Me t ro b an k s o l d it s remaining 15% stake in Toyota Motor Philippines Corp. in January and its 20% stake in Global Business Power Corp. in June to shore up capital and comply with Basel III. Meanwhile, net interest income from loans and deposits recorded 20% growth to P27.595 billion from P23.021 billion.

“Credit demand was consistent across all sectors, with the consumer segment leading the growth,” Metrobank said, as net loans and receivables rose by a fifth to P574.6 billion.

Total deposits, on the other hand, grew by more than a third to P896.9 billion, bulk of which went to current and savings accounts.

“This has brought the cost of deposits further down, which helped cushion the impact of continued pressure on asset yields,” the bank said.

M e t r o b a n k ’s n o n performing loan (NPL) ratio improved to 1.4% as of September. Last year, bad loans made up 2.2% of its total lending portfolio.

Its capital adequacy ratio (CAR) -- a measure of cover against risks -- stayed well above the 10% minimum requirement of the central bank at 17.4%. Its Tier 1 CAR, considered the highest form of capital, stood at 15.2%, exceeding the requirement of 7.5%.

BSP relaxes forex rules anew THE Bangko Sentral ng Pilipinas (BSP) further relaxed foreign exchange transactions by allowing prepayment of short-term loans registered with the central bank.

The BSP issued t he i mpl e m e nt i ng c i rc u l ar detailing the amendments such as waiver of t he s u b m i s s i o n o f b a n k s’ importation documents and the removal of BSP prior approval for private sector loans from banks’ foreign currency deposit units.

The central bank also issued clarification of the prescriptive period for the filing of requests for BSP registration of foreign direct investments and rules on cross currency swaps.

The BSP statement said it will “continue to review rules on FX (foreign exchange) transactions and make amendments as necessary to

A SHARP decline in trading gains hit Rizal Commercial Banking Corp’s (RCBC) net income for the first nine months.

In a st ate me nt , t he Yuchengco-owned RCBC said its profit declined by 1.41 percent year-on-year to P4.71 billion in the January to September period.

“The first three quarters

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8. ACCOUNTANT • Male/Female, not more than 35 years old • Graduate of BS Accountancy • Must be a Certified Public Accountant • With at least two (2) to three (3) years experience in General and Cost Accounting in a manufacturing industry • Adopt in preparation and analysis of financial statement • Well versed in local tax regulations and Proficient in understanding and Implementation of national internal revenue codes 9. ACCOUNTING CLERK • Male/Female, not more than 35 years old • Graduate of BS Accountancy • Fresh graduates are welcome to apply

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MDN: Oct. 21-Nov. 20, 2013

ensure that the FX regulatory framework is appropriate considering current economic conditions.”

Last month, the BSP also approved more FX policy easing such as the outward remittances to increase investment instruments for local investors.

Both amendments are intended to prepare the country for regional integration and would facilitate cross border investment transactions which is part of the Philippines’ commitments under the ASEAN Economic Blueprint 2015.

Based on BSP Circular No. 815 (Amendments to Foreign E xchange R egu l at ions)

non-resident investments in listed equity securities in the Philippine Stock Exchange which are issued by non-residents may now be registered with the BSP. If registered with the central bank, investors can transact outward remittances of capital and income and source foreign

exchange from the domestic banking system.

In addition, the nonresident issuers of such instruments will also be able to outward remit the FX equivalent of the peso proceeds from the sale of their securities through the PSE.

RCBC suffers drop in net income

DN BUTUAN JOINT VENTURE 1. SALES ENGINEERS • Male/Female, not more than 35 years old • Preferably graduates of BS Civil Engineering/BS Architecture / BS Mechanical Engineering or any other Engineering related courses • With at least one (1) year experience in sales and marketing • With good communication skills

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offered a tough challenge to the bank in view of the low interest rate and excess market liquidity while developments in the U.S. held back trading gains opportunity,” RCBC president Lorenzo V. Tan said.

The bank’s trading gains from fixed-income securities fell 44.8 percent year-on-year to P2.88 billion.

But “we are firmly on track of our long-term goals and we believe the bank is fully-equipped to support the growth in our nation’s economy especially now that it has assumed a full investment-grade status,” Tan said.

RCB C ’s net interest income – which representing gains f rom its lending

business -- increased by 15 percent year-on-year to P9.59 billion.

Net interest marg in improved to 4.17 percent from last year’s 3.87 percent despite a low interest-rate environment and intense competition in the banking industry. This was achieved on the back of a 23 percent rcbc/PAGE 11

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BELIEVE AND RELATE TODAY

by HOBART SAVIOR

Courses needed for the world is flat

SULAT DULA 3 gathers aspiring Mindanao playwrights

A

s part of their goal to establish a sustained playwright development program in Mindanao, the Xavier Center for Culture and the Arts (XCCA) and the National Commission for Culture and the Arts (NCCA) conducted SulatDula 3: A Playwriting Workshop in Mindanao on Oct 23- 25.

Sulat-Dula is XCCA’s flagship project for its Cultural Education Program that aims to bring the best culture and art practices closer to students, faculty and LGUs in Northern Mindanao.

This year’s Sulat Dula brought distinguished playwrights Steven Patrick Fernandez, writer, critique, researcher and Executive/Artistic Director of Integrated Performing Arts Guild (IPAG) of MSU IIT; Rody Vera, Executive Director of Writer’s Bloc, Inc., playwright, television scriptwriter and screen writer; and Layeta Bucoy, screenplay writer, columnist and playwright of Doc Ressureccion:Gagamutin ang Bayan, among others.

With the help of the resource persons, nine fellows were able to work on their plays during the workshop. These were Anna Liz Cabrido from Apat sa Taglamig Productions Inc in Koronadal City, South Cotabato who wrote “Solteros”; Estrella Alfabeto of Central Mindanao University, Bukidnon who wrote “Scrapbook”; Kristen Senajon of XU’s The Xavier Stage who wrote “Sa Tabing Dagat”; Michelle Dollaga of XU’s The Xavier Stage who wrote “Closet”; Vel Marie Santillan of XU’s Dulaang Atenista who wrote “Sakay”; Jim C Raborar of Apat sa Taglamig Productions, Inc of Koronadal City, South Cotabato who wrote “Hapakainan”; Hermie Dico of IPAG MSU IIT who wrote “Kwits”; Dennis Flores from Cagayan de Oro City who wrote “The Sin of the Father”; and Gabriel Matthan Luceño from XU who wrote “Aerodynamics of Relationships.”

Through critiquing and one-on-one consultations with the professional playwrights, the fellows were able to showcase their plays through script reading. It was an inspiring event for the future playwrights to actually create a piece which will one day be seen and heard on stage.

T

homas Freid ma n’s met aphor of t he f lat ness of t he world sig nals vast ness a nd abu nd a nce of resou rces a nd equ al oppor t u n it ies. It is said t hat t he world is a level play i ng f ield as it def i nes globali zat ion i n t he 21st cent u r y.

T homas Fr ied ma n calls t h is as Globali zat ion 3.0 wh ich mea ns t he f lat ten i ng of t he world is caused by “ t he convergence of personal computers w it h f iber opt ics m icro cable a nd t he r ise of work f low sof t wa re.”

Fr ied ma n, i n h is book , suggest s t hat i nd iv idu als remai n compet it ive i n t he global ma rket by const a ntly upd at i ng oneself w it h compet it ive k nowledge a nd “lea r n new ways of doi ng old t h i ngs or new ways of doi ng new t h i ngs” si nce most of t he jobs now ca n be ca r r ied out by d ig it al mach i nes, automat ion a nd complemented a nd prov ided t h roug h out sou rci ng, open sou rci ng a mong ot hers.

T herefore, i nd iv idu als who k now less about d ig it al tech nolog y should st a r t steppi ng on t he level play i ng f ield of t he d ig it al world.

I suggest t he follow i ng cou r ses must be added a nd of fered as open subject or cou r ses: Basic or I nt roduct ion to I n for mat ion Tech nolog y; Fou r Macro La ng u age or Com mu n icat ion Sk ills i n Mult i med ia Discou rse; Visu al Com mu n icat ion; K nowledge Ma nagement; Cult u ral Educat ion a nd A r t s Ma nagement.

I nt roduct ion to I n for mat ion Tech nolog y a nd Visu al Com mu n icat ion must be of fered as a general subject.

Most of t he subject a reas now requi re st udent s to come up w it h mult i med ia present at ions a nd g raph ic desig ns for repor t s a nd even for f i nal project s.

Wit h I n for mat ion Tech nolog y, st udent s or i nd iv idu als w ill lea r n how to do d at abase ma nagement, web desig n i ng a nd ma nagement.

T hus, t he basics or even core tech n ical lessons a re essent ial to equip st udent s or i nd iv idu als to be d ig it ally compet it ive.

T he teach i ng of la ng u age a nd com mu n icat ion ( bot h i n English, Filipi no a nd t he Reg ional La ng u ages) must be upd ated w it h t he use of mult i med ia d iscou r se approach.

T h is mea ns t hat w r it i ng, spea k i ng, read i ng a nd listen i ng must be t aug ht i nteract ively t h roug h t he use of computer tech nolog y.

O ne ver y i nterest i ng f ield t hat i nd iv idu als must lea r n is K nowledge Ma nagement.

T h is is a t y pe of ma nagement t hat requi res cr it ical ha nd li ng of prog ra ms a nd project s f rom it s concept u ali zat ion, pla n n i ng, a nd i mplement at ion.

K nowledge Ma nagement is also used to check a nd bala nce t he ut ili zat ion of recou rses, bot h t a ng ible a nd i nt a ng ible, for t he st rateg ic reali zat ion of t he goals a nd object ives of a prog ra m or project.

Wit h K nowledge Ma nagement, a n i nd iv idu al is expected to ma x i m i ze a n i nput to come up w it h h ig h i mpact out put s a nd outcomes w it hout bei ng wastef ul.

A lso, t h is sk ill allows a n i nd iv idu al to package log ically, promote ef fect ively, a nd i mplement successf ully h is or her prog ra ms a nd project s as t hey a re alig ned to a n i nst it ut ional goal or object ive.

Lastly, I believe t hat when t he world becomes hor i zont al w it h equ al oppor t u n it ies, t he more it is ver y necessa r y to of fer cult u re a nd her it age educat ion.

We may be global, but bei ng global is by present i ng a nd represent i ng what is cult u rally ou rs.

T he d ig it al world ca n never replace what is i nt a ng ibly labeled- ou r sense of ident it y.

A lig ned w it h t h is is A r t s Ma nagement. It is i mperat ive to say t hat even i n t h is d ig it al age or post moder n age, a r t lives as it is a ref lect ion of ou r hu ma n it y, cult u re, a nd ident it y as a people.

Wit h a r t ma nagement, i nd iv idu als a re engaged i n t he appreciat ion, preser vat ion a nd promot ion of a r t wh ich is one of t he m i r rors of cult u re a nd it s u nderst a nd i ng.

Bot h cult u ral educat ion a nd a r t s ma nagement f lower for t h project s a nd prog ra ms not on ly for local cult u res but also for global u nderst a nd i ng t h roug h i nculcat ion of t he cult u re of cult u re, cult u re of f i ne a r t s t hat w ill help us see what beaut y a nd t r ut h br i ng i n ou r lives, a nd t he cult u ral promot ion a nd u nderst a nd i ng t hat w ill facilit ate us i n ou r quest a nd hope for peace.

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Philippine Press Institute

The Juggler

T

THINK

hink a minute…There was a young man who A Minute moved from his home in Italy

By Jhan Tiafau Hurst to live in America. He studied juggling and soon became famous all over the world. Later in his life, after years of success as a juggler and performer, he decided to return home to Italy and retire. He sold almost everything he owned and bought a big, expensive diamond. Then he boarded the ship for his home in Italy.

One day he was showing a boy on the ship how he could juggle several apples at one time. Soon a crowd of the passengers gathered around to watch. Then the old juggler got more and more carried away with himself, wanting to impress the crowd. He ran to his room and got his precious diamond. He showed it to the people and explained how the diamond represented his whole life’s work and savings.

Then, to the people’s shock and amazement, he started juggling the diamond! At first, he was careful; but each time he threw the diamond higher and higher. Finally, he told his audience that he would throw the diamond one last time so high that it would disappear for a few seconds.

The people begged the old man not to do it, but he wouldn’t listen. So with the confidence of all his years of experience, the juggler threw the diamond so high into the air that it actually did disappear, before it started falling back down, shining and sparkling in the sunlight. Then, just as he was about to catch the diamond, a huge wave suddenly caused the ship to move and lurch forward, causing the juggler not to catch his diamond, which fell into the ocean and sunk, lost forever.

What a sad story. To risk and lose everything you own and have worked for all your life. Yet some of us are just like that juggler. We’re very confident in our own strengths and abilities. We want to be in control and live life our own way, even though our Maker has clearly shown us that the only way to really live successfully is His way. The only way to stay satisfied and safe is the way Jesus Christ showed us.

Hurst/PAGE 10

I

n region 10, some 25 business establishments were awarded the Bagwis Awards last month.

The Bagwis Award winners of Northern Mindanao deserves public accolade too for strictly adhering to consumer laws, by having consumer welfare desks in their establishments and and providing quality customer care to clients.

Congratulations to the 11 bronze awardees of Northern Mindanao: HiTop Electrical & Electronics Center, Shopwiser Supermarket, JRS Business Corporation, R. Dy Store, Cham’s Convenience store I (San Miguel, Iligan City), Cham’s Convenience Store (Tubod, Iligan City), MTZIA Corp.

(ILICOMM), CT Shoppers, Unite General Merchandise, Special Appliance Plaza and Des Appliance Plaza, Inc. Ditto with the silver awardees such as Metro Gold Supermarket, Inc., EMCOR Inc., Ozamiz, Freemont Foods Corp., Ozamiz Liberty Marketing, RN Builders and General Merchandise, Tio Auto Parts Supply, Home and More, Hyundai-Cagayan de Oro City, AutoCentral Inc. (Suzuki-Cagayan de Oro) and New Cagayan Universal Hardware Inc. The gold award winners who are already household bywords are SM Supermarket, Savemore-Agora, Savemore-

Kauswagan and Savemore-Capistrano of Cagayan de Oro City.

The award-winning businesses have been adjudged as outstanding in fair practice of trade laws such as price tag, standard, discounts to senior citizens, and many others.

These winners awarded by the DTI were dubbed as remarkable for having consumer welfare desks in their stores. Manned by employees, the desks attend to the concerns of the customers. The winners edge is good employer-employee relationship and excdellent corporate social responsibility, according to DTI. The Bagwis Awards is part of DTI’s celebration of Consumer Month this November.

Initially, the program was dubbed as DTI Certified Establishments. It was renamed as Bagwis Awards to promote high level of business practices through self-policing mechanisms for the country to achieve a fair and honest marketplace.

With the Bagwis Seal of Excellence displayed on stores and shops, consumers are guided in choosing establishments which offer quality produycts and efficient services at reasonable prices. Consumers are assured that they are protected from unlawful trade practices.

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All About the Money

uring the Yuletide season, the Philippine Peso becomes more popular than ever. There is great demand for cash as consumers purchase goods and services for their Christmas celebrations.

Not only that, many Filipinos also give away cash as gifts. Inserted in red Chinese envelopes, money – in the form of new crisp bills – can easily send delight to children asking for aginaldo.

We are so used to using money that we seldom think how it got to our hand or wallets. For educational purposes, let me guide you through the process.

The task of making sure there is an adequate supply of money in the market to meet the needs of the public is with the Bangko Sentral ng Pilipinas (BSP).

As the government office constitutionally mandated to issue our national currency, it is also the job of the BSP to make sure there is neither too much nor too little currency in circulation, for both can cause monetary and price instability.

Not all central banks in the world produce their own notes and coins but the BSP does. Through its Banknotes and Securities Printing Department (BSPD) and Mint and Refinery Operations Department (MROD), both operating at the BSP Security Plant Complex in Quezon City, the BSP produces and issues most of the notes and coins that you see today.

To meet heavy demands for currency, the BSP also outsources some of its requirements to a select group of qualified international suppliers.

The BSP does not produce or issue currency at whim.

Since notes and coins carry value and are considered legal tender for all private and public debts, the amount of currency released to the market should not exceed the assets of the BSP. The task of ordering the amount of currency needed in the market up to its issuance and retirement falls on the shoulders of the BSP Currency Management Sub Sector (CMSS), currently headed by its managing director Iluminada T. Sicat.

The CMSS is made up of two departments: the Cash Department (CD) and the Currency Issue and Retirement Office (CIRO). The CIRO takes custody of new currency notes and coins and issues them to the Cash Department, which in turn supplies the currency requirements of banks in Metro Manila, and to the Regional Monetary Affairs Sub Sector (RMASS), which supplies the currency requirements outside Metro Manila through BSP’s three regional offices and 18 branches.

The CD and RMASS also withdraw from circulation old or unfit notes and coins to be turned over to the CIRO for destruction.

The currency management cycle begins with forecasting the amount of currency needed for circulation. The

T

Opinion

BusinessWeek MINDANAO

SPEAKING

B S P ’s D e p a r t m e nt f o r Economic Research makes O ut use of economic indicators

By Ignacio Bunye such as the Gross Domestic Product and Inflation Rate in projecting the multi-year currency requirement of the economy.

The findings are then passed on to the Office of the Managing Director of CMSS, which will forecast requirements, broken down into various currency denominations. After production, the new notes and coins are prepared for issue and distribution to banks all over the nation. The banks then release money to the public through withdrawals and loans.

The money you have at hand now was probably produced within the last three to five years. High denomination notes have an average life of 2.5 years while lower denomination notes because of frequent usage sometimes last a year.

Naturally, coins last longer and can stay in circulation up to ten years.

Some notes and coins, however, become unfit or mutilated way before their “retirement” date. These can be brought to the banks or to BSP’s Cash Department for redemption.

Notes deemed unfit are shredded, while coins are melted.

Apart from seeing the currency through its issuance and retirement, it is also the job of the CMASS to promote the preservation of the integrity of our currency.

The Cash Department coordinates with law enforcement agencies such as the National Bureau of Investigation and the Philippine National Police to arrest counterfeiters who use or sell fake money. BSP gives rewards to informers who help in the apprehension and prosecution of counterfeiters.

Apart from these are other advocacies that aim to protect our currency. There is the Clean Note Policy that requires banks to sort clean/fit and dirty/unfit currency when making deposits to BSP. There is also the coin recirculation program called “Barya Para sa Eskuwela” which aims to flush out idle coins and promote their active use by the public.

Now that you know the process by which money is produced and distributed, you might perhaps better appreciate it as you continue with your holiday spending.

Let us not forget however, that Christmas is never all about the money. More than anything else it’s about love, giving, and faith.

Note: My book, Central Banking for Every Juan and Maria is now available in main branches of Fully Booked, Power Books, National Book Store, and University of the Philippines Press.

Truth, Justice and Charity

hey are supposed to come together. They are inseparable.

They mutually affect each other. All this because they come from the same source and are meant to go toward the same end. And that is God. But given our human condition, both in its original state and its current state wounded by sin, they seem to sometimes conflict with one another, their ideal of being together has to be worked out by us.

It’s in this context that we have to be more aware of our responsibility to put them together. Precisely when we find ourselves in the middle of some raging controversies and hot issues, this duty of ours comes to the fore.

Now that we are in the midst of a screaming national crisis, thanks to the pork barrel issue, it behooves us to be most careful in expressing our views and opinions so that truth, justice and charity go together as they ought.

At the moment, especially in blogs and in the social network, patent irregularities can be noted. Basic courtesy is tossed to the winds, with venom spewed right and left.

People seem to monopolize the truth as opinions practically become dogmas, creating very funny black-and-white scenarios.

We need to hold our horses and strive to sort out things calmly, always eager to hear everybody’s side no matter how insignificant, irrelevant or of little value it may be.

Everyone should be heard, especially the side of the suspect or the accused.

In the end, we are all brothers and sisters. No amount of wrongdoing can erase that fact. And we have to remember that whatever good or evil happens in the world, every one of us, one way or another, is responsible, at least in part.

We are all in the same boat. We rise and fall together.

It always pays to be calm, sober and courteous in going through a certain issue, let alone, a national crisis. This way we can think, assess and judge things better, able to distinguish between what is essential and what is incidental.

Yes, certain parties may have to be penalized, but even the penalty, while out of justice, should come and serve

HINTS

charity as well. They may be condemned through our and Traces judicial system, but they are

By Fr. Roy Cimagala still persons and brothers and sisters of ours. They are not animals nor mere objects, though they may have behaved like one.

I think that this will do us a lot of good individually as a person and collectively as a people, as a nation. With our new information technologies that afford us easy and rapid communication, we would always be tempted to speak our mind without restraint.

Truth is not served that way, since truth should always go with charity and justice. We need to restrain ourselves a little bit, to purify our intentions and to muster the best way to proceed.

We have to be most wary of what is known as bitter zeal. It is the eagerness to pursue one’s goal by any means, even trampling on the requirements of charity.

It is an expression of the erroneous moral principle that the end justifies the means.

Sad to say, I notice that many people, even the so-called educated ones, seem to have no qualms in resorting to this principle. They feel justified to do so, forgetting that no matter how honest and holy they believe they are, there’s always something to pin them down too.

Remember that episode of the woman caught in the act and practically thrown before Christ to be condemned and stoned to death. Christ simply kept quiet, wrote something on the ground, and finally told the accusers that whoever was without sin could cast the first stone. Then everyone left, starting with the older ones.

It’s bad enough that this bitter zeal afflicts a person. It’s cimagala/PAGE 10

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Bbillboard illboard page7

Advertising and Editorial E-mail : businessdailymindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Shaun Uy

It’s more fun in the Philippines with Sun Cellular’s travel-friendly offers

M

ake the most of technology and become the ultimate travel master for your friends and loved-ones during vacations or holidays by exploring and showcasing the beauty and heritage of various tourist spots in the Philippines. With Sun Cellular’s affordable and undoubtedly helpful offerings, you can instantly become a true-blue explorer and tourism ambassador even of your very own hometown.

By equipping yourself with a tablet while you travel, you not only get to plan or map out your trip more efficiently, you get to instantly share those precious moments with friends and family as well. Sun Broadband’s Gadget Plan 999 offers all you’ll need to get you covered— just choose from either the Samsung Galaxy Tab 3 or the Polaroid Executive 9.7 tablets, and you’ll be on your way to snapping and sharing those memorable vacation spots that deserve to be known by the world.

Because Sun Broadband’s Gadget Plan 999 also gives you a Pocket WiFi device with 80 hours of free Internet access every month, you don’t have to wait to buckle down back at home to share those photos and stories via your social networks. And with Sun Cellular’s expanded broadband coverage nationwide, you’ll be sure to have consistent, fast and reliable Internet

connection wherever you may be in the Philippines.

Other Gadget Plans for Sun Broadband are available for as low as P350 a month, offering a wide range of tablet offerings that will suit all your travel fancies.

On top of that, earn the respect of your co-travelers as you easily navigate through the ins and outs of the countryside using Waze, the social navigation app for iOS and Android phones. With Sun Cellular’s newly launched Waze loads, you can easily find your way in and around the country’s many tourist spots, and get live traffic updates to boot!

Waze Loads are available in three variants: Waze 5 gives you one day unlimited access to the application while Waze 30 and Waze 99 provide7 and 30 days of unlimited access respectively.

Corresponding data charges may apply for use of applications outside Waze.

And for those traveling in groups, make sure nobody gets lost along the way by updating each other using the latest chat apps available on any smartphone today. Chat each other up using either Line, WeChat, WhatsApp or Facebook Messenger at just P10 per day, or use all four apps simultaneously for the lowest rate of P299 a month.

Just text either Line10, WeChat10, WhatsApp10, FBMSG10, Babble10 or CHATALL299 to 247 to activate any of these offerings.

So in the coming holidays, make Sun Cellular your trusty travel companion and arm yourself with the tools to become the ultimate travel master.

For more information on these and

other services that Sun Cellular offers, log on to www.suncellular.com.ph. You can also check for updates by logging on to their official Facebook page: facebook.com/suncellularph or on Twitter: twitter.com/suncelltweets.

Sun Cellular is the mobile brand of Digitel Mobile Philippines Inc, a member of the PLDT Group.

GROW A TREE POSTER

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Congressman Rufus B. Rodriguez expresses his support for the ongoing peace talks between the Government of the Republic of the Philippines and the MILF during a recent briefing conducted by the Office of the Presidential Adviser on the Peace Process headed by Secretary Teresita Quintos-Deles. Rep. Rodriguez values the importance of peace in the Mindanao region and sees how it can improve the lives of the people of Mindanao.

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region OFFICE OF THE CLERK OF COURT Medina, Misamis Oriental -oOo-

New People’s Army rebel returnees hand over their firearms to Northern Mindanao police director Chief Supt.

Catalino Rodriguez Jr., Misamis Oriental Governor Yevgeny Vincente Emano and DILG-10 director Rene Burdeos during turnover ceremonies held at the headquarters of the 4th Infantry Division. mindanao daily news photo by gerry lee gorit

THE BEST CHOICE FOR ADVERTISING

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region BRANCH 23 Cagayan de Oro City IN THE MATTER OF DECLARATION Spec. Proc. No. 2013-078 OF PRESUMPTIVE DEATH OF KIMBERLY V. GAABUCAYAN AND THE APPOINTMENT OF REPRESENTATIVE TO ADMINISTER AND/OR SELL HER PRO INDIVISO SHARE OF A PROPERTY MILAGROS V. GAABUCAYAN, JERSON V. GAABUCAYAN, ELENA CHRISTINE G. NARCISO, RUTILLA MARJORIE G. KIONISALA, HONEY MARGARETTE G. ARDA, MARY JANE G. ARAS, SOL BARBARA G. CRUZ represented by HONEY MARGARETTE G. ARDA, FAUSTINO FLORISCEL V. GAABUCAYAN represented by JOHNNY ARAS AND LESLIE G. SANTOS represented by JOHNNY ARAS, Petitioners, X----------------------------------------------------------// ORDER

CONTACT ADS DEPT: 0917-7121424 0947-8935776 856-3344, 72-33-44

Before this Court is a Petition for the Declaration of Presumptive Death of KIMBERLY V. GAABUCAYAN, filed by herein Petitioners.

IT IS HEREBY ORDERED that the said Petition be set for Initial Hearing on November 20, 2013 at 8:30 in the morning at the Session Hall of this Court, on which date, time and place, all persons who may have any opposition to the petition herein sought, may appear to show cause why said petition should not be granted.

Let this Order be published, at the expense of Petitioner, in a newspaper of general circulation in Cagayan de Oro City and in the Province of Misamis Oriental once a week for three (3) consecutive weeks prior to the date of hearing.

Likewise, let copies of this Order, with petition attached, be posted by the Deputy Sheriff of this Branch, at the Bulletin Boards of Barangay Camaman. an, Cagayan de Oro City, at the City Hall of Cagayan de Oro City and at the Bulletin Board of the Hall of Justice for at least ten (10) days prior to the date of hearing.

Petitioners are further ordered to furnish copies of the Petition and this Order to the Office of the Solicitor General, the Office of the Local Civil Registrar and the Office of the City Prosecutor and show proof of compliance on the date of hearing.

SO ORDERED.

Cagayan de Oro City, Philippines, October 17, 2013.

(Sgd.) VINCENT F.B. ROSALES Presiding Judge

BWM: Oct. 26, Nov. 2 & 9, 2013

HDMF (PAG – IBIG Fund) as rep, EJF FILE NO: 353-M by it’s Branch Manager,

mortgagee, FOR: -versus- Extrajudicial Foreclosure of Real Estate Mortgage Under Act 3135, As Amended by Act 4118 BRUCE JOHN L. OGA

mortgagor.

X--------------------------------------------/

SHERIFF’S NOTICE OF EXTRA JUDICIAL SALE

Upon extrajudicial petition for sale under Act 3135, as amended by act 4118, filed by the HDMF (PAG-IBIG FUND) as rep. by it’s Branch Manager, mortgagee, against BRUCE JOHN L. OGA, mortgagor, with residence and postal address at Poblacion Makilala, North Cotabato City to satisfy the indebtedness of the mortgagor to the former in the amount of EIGHT HUNDRED THIRTY THOUSAND NINE HUNDRED SIXTY FIVE PESOS & 68/100 (P830, 965. 68) Philippine Currency, including interest due, penalties and other charges excluding 10% attorney’s fees and other liquidated damages as of July 12, 2013, plus all other expenses incurred in connection with this petition and sale, the undersigned RTC-OCC Sheriff’s sell at Public Auction On December 12, 2013 at 10:00 o’clock in the morning or soon thereafter at the Hall of Justice, RTC-OCC, Medina, Misamis Oriental to the highest bidder for cash and in Philippine currency, the following property with all improvements thereof to wit: TRANSFER CERTIFICATE OF TITLE NO. T-56855 A PARCEL OF LAND, and all improvements thereon with Lot No. 352-A, PSD- 10-051994 being a portion of Lot 352, CAD-703, Cagayan Cadastre situated in the Barrio of Mantangale, Municipality of Balingoan, Province of Misamis Oriental, Island of Mindanao.

Boundaries:

W., along line 1-2 by lot 352-B;

N., along line 2-3 by lot 352- D;

SE., along line 3-4 by lot 352- C;

along line 4-5 by lot 352-D all of Psd-10-051994

S., along lines 5-6-1 by National (30.00 m. wide)

Beginning from point marked “1” on plan being N., 89 deg., 56’E., 867.16 m. from BLLM NO. 1, Cad- 703, Balingoan Cadastre Thence: 1-2 N., 02 deg. 06’W., 45.52m; 2-3 S., 85 deg. 22’E., 34.46m; 3-4 S.,11 deg. 10’W., 22.86M;

4-5 S., 11 deg. 09’W., 21.35m; 5-6 N., 85 deg. 23’W.,10.49m; 6-1 S., 89 deg. 16’W., 13.66m;

Containing an Area of ONE THOUSAND TWO HUNDRED NINETY EIGHT (1, 298) Square meters more or less.

In the event of failure of bidding or auction sale cannot take place for whatever reason, the same will proceed on the following working day, without further notice, posting and publication.

Prospective bidders/ buyers may investigate for themselves the title and tax declaration herein above described and encumbrances thereon, if any there be.

Medina, Misamis Oriental, October 24, 2013.

(Sgd.) MICHAEL J. MONTEJO

RTC-OCC, SHERIFF IV BWM: Nov. 2, 9 & 16, 2013

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november 9-10, 2013 Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 20 Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL FORECLOSURE EJF File No. 2013-293

Upon extrajudicial petition for sale under Act No. 3135 as amended by Act No. 4118, filed by RURAL BANK OF CABADBARAN, INC., duly organized and existing under Philippines Laws with principal office address located at Cor. Garame & Cabeltes Sts., Cabadbaran, Agusan del Norte, with Branch Office at Cor. Dolores-Tiano Sts. Cagayan de Oro City, against SPS. EDWIN L. VILLAMOR and BERLINA P. VILLAMOR, Filipinos, married, both of legal ages, with postal address at Zone 6, Bonbon, Cagayan de Oro City, to satisfy the mortgage indebtedness which at present amounted to ONE MILLION FOUR HUNDRED FORTY SEVEN THOUSAND EIGHT HUNDRED SIXTY SIX & 67/100 PESOS (Php 1,447,866.67), Philippine currency, inclusive of interest & penalty charges, attorney’s fees and expenses of foreclosure, the undersigned or duly authorized deputy will sell at public auction on January 9, 2014, at 10:00 a.m. or soon thereafter at the main entrance of the RTC-BR.20, Hall of justice lobby, Hayes St., Cagayan de Oro City to the highest bidder, for CASH in Philippine Currency, the following property/ies described below with all the improvements thereon, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-171179 “A PARCEL OF LAND, INCLUDING ALL IMPROVEMENTS FOUND therein ( Lot 1632-B-2-A-2-A, Psd-10-050710, being a portion of Lot 1632-B-2-A-2-A, Psd-10-044501), situated in Bonbon, City Cagayan de Oro City, Island of Mindanao.

Bounded on the NE., along lines 1-2-3 by Lot 22315-B, Psd-10-003748; on the SE., along line 3-4, by Lot 1632-C, Psd-10-003486; on SW., along lines 4-5- by Lot 1632-B-2-A-2-B of the subd. Plan of Psd-10-050710; of the NW., along line 5-1 by Existing Road (4.00m. wide) xxx Containing an area of TWO HUNDRED (200) square meters more or less, and assessed at Php 149,000.00 and Php484,923.34 (Building), and covered by Tax Declarations Nos. G-083051 and G-082931, respectively, and both declared in the names of EDWIN VILLAMOR and BERLINA VILLAMOR, of Zone 6, Bonbon, Cagayan de Oro City.”

All sealed bids must be submitted to the undersigned on the above-stated time and date.

In the event Auction Sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication.

Prospective buyers may investigate for themselves the title and tax declarations herein above-described and encumbrances thereon, if any there be.

October 16, 2013, Cagayan de Oro City, Philippines.

(Sgd.) CELESTIAL VENUS G. GELBOLINGO

Sheriff IV BWM: Oct. 26, Nov. 2 & 9, 2013

PLDT... from page 2

sustain growth on new mobile phone services and markets.

He said PLDT Global plans to expand into mobile data services and offer more content.

PL DT Gl ob a l of fe rs Mobile Virtual Network Operator (MVNO) services in Hong Kong, Singapore, Guam, Malaysia, Macau, Taiwan and United Kingdom, primarily for OFWs and professionals.

MVNO is a mobile operator that rides on the physical network infrastructure of other carriers to provide telecommunication services for a specific market.

Under MVNO, PLDT Global Corp would provide mobile wireless and data services to end-users through commercial accords with licensed mobile network operators. These value-added services include Smart Load, Pasa Load, Smart Padala, among others.

“We are targeting 300,000 customers by end of the year,” Caeg said.

At present, PLDT Global has at least 250,000 customers.

Caeg also said PLDT Global is looking to offer MVNO in the Middle East, Europe, North America and Japan.

Besides MVNO, PLDT Global’s other core businesses include international dealership, e-commerce, remittance and enterprise business.

Lock... from page 2

Some of the BPO industry’s hubs in the Visayas such as Cebu and Iloilo were along the path of Yolanda--said to be the world’s strongest typhoon this year.

Mercado said IBPAP has yet to assess the impact of Yolanda, but the sector was “definitely affected” by the typhoon.

Tampa, Florida-based

Sykes Enterprises Inc said in a statement that the impact of Yolanda on its Philippine operations “has been immaterial, given t he company’s dis aster re cover y pl anning and built-in redundant support infrastructure.”

“The company has been operating in the Philippines since 1997, and the number of typhoons and storms the archipelago experiences on average is roughly 20 on an annual basis,” Sykes noted.

Sykes has facilities in Metro Manila and Cebu.

Aboitiz... from page 2

The c o m p a n y ’s corresponding order of registration and permit to sell will be also issued after these conditions are conformed.

The bonds earlier received the highest possible rating of “PRS Aaa” from the Philippine Rating Services Corp.

Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligation is extremely strong.

The Cebu-based AEV is engaged in power distribution a n d g e n e r at i on , re t a i l electricity supply, financial services, food manufacturing and real estate. (PNA)

Coco... from page 3

risen to $1,120 per metric ton against $980 per MT in August, making it the agriculture sector’s top dollar earner.

UCAP has also raised the expected shipment volume for the year to 1.1 million MT. It had previously estimated exports to top at 900,000 MT but revised it because a mandated five-percent increase in biodiesel blend did not push through. “While this is not yet implemented, the volume can be exported,” she said.

Biodiesel in the

Philippines has a two-percent blend. Increasing the blend could increase the country’s consumption of coconut oil to 350,000 MT from 140,000 MT.

Agri... from page 3

Sombilla also emphasized that to establish strong market linkages, the government ne e ds to f ind ways to encourage the private sector to have a greater role especially in areas where they have the competitive advantage like in processing and marketing.

“We need to innovate to strengthen government institutions and make them responsive and effective in facilitating markets,” she said.

Sombilla further stressed that the updated PDP 20112016 advocates for a new development paradigm that consolidates efforts of various agencies to generate quality employment and increase incomes in the agriculture and fishery sector.

“For example, integrated programs on two key commodities, coconut and the fisheries, which are major sources of livelihood of a great number of the poor, are now being developed so that a comprehensive menu of services will be delivered by various agencies to enhance productivity and add value to the raw product,” she said.

An integrated program has b een de velop ed to strengthen the coconut industry’s potentials not only for domestic but also for the international market. The Departments of Agriculture, Trade and Industry, Science and Technology, and Public Works and Highways, the Nat i on a l A nt i - Pov e r t y Commission, among other agencies, will jointly implement this program.

“These agencies will have to work together to strengthen the commodity supply chain to get the small farmers involved and to maximize benefits from development

gains,” the NEDA official said.

F i n a l l y, S o m b i l l a emphasized that agriculture will remain a priority sector to address the needs of the country’s growing population and to take advantage of market opportunities in fast growing economies in Asia.

“Increasing agricultural productivity will support the necessary structural t r a n s f or m at i on of t h e economy and is a key factor to poverty reduction in rural areas,” she stressed. (PNA)

Hurst... from page 6

Yet, we keep juggling with our own priceless life just one more day.

But we never know when our life will suddenly end— and we will have lost our eternal life and suffer forever.

Friend, for your own sake and happiness, why not ask Jesus to forgive you for all your wrongs and living your own way? Then ask Him to give you His power so you can start changing to live His way every day of your life—before it’s too late.

Just Think a Minute …

Cimagala... from page 7

much worse when it afflicts many people, erupting into a mob rule. That’s when truth, justice and charity flee, and a most blinding self-righteousness prevails.

We have to do everything to avoid this predicament to befall on us. So what are we supposed to do? Aside from studying the issues well and going through the steps of prudence, what is even more important is to pray, to offer sacrifices, to effect another renewal and conversion both in the personal and collective levels.

We should never think that these spiritual and supernatural means are of no practical value.

The truth is that they are the ones that would enable us to think and judge things properly, for these would be done in the presence of God.

Congressman Rufus B. Rodriguez pushes for the immediate constitution of the Human Rights Victims’ Compensations Board as mandated by Republic Act 10368 or the Human Rights Victims Reparation and Recognition Act of 2013 during the budget hearing of the Commission on Human Rights’ budget. Rep. Rodriguez sees the importance of immediately constituting the Board as the victims have suffered long enough and it is about time that they be given some reparation for what they experienced.

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november 9-10, 2013

Overarching reforms will reinvigorate ports, shipping-study Significant reforms that encourage healthy competition are the key to an improved and more competitive maritime sector in the Philippines, according to the latest study on the state of the local ports and shipping industries.

The paper, authored by Rafaelita Aldaba of the Philippine Institute for Development Studies and recently published by the Geneva-based International Trade Centre, says the current regulatory and institutional framework of the ports sector in the Philippines weakens its competitiveness and hampers effective regulation.

“This has led to inefficiencies and lack of investment in domestic and international maritime transport, increased business costs and reduced the country’s overall competitiveness,” it said.

Consequently, a more robust maritime sector that levels the playing field for both domestic and foreign investors can emerge if regulatory and legal barriers to competition and investment are removed.

Foremost among the study’s recommendation is to separate the regulatory responsibilities of the Philippine Port Authority (PPA) from its development and operations functions, since its vast powers present a conflict of interests.

“This would require an amendment of PPA’s charter through Congressional action,” said Aldaba.

The PPA is the government corporation that finances, manages, and operates the public ports throughout the Philippines, except for the port of Cebu.

The port system should also undergo a thorough restructuring that includes leasing PPA port facilities to operators, instead of the current practice of the PPA collecting a percentage of operators’ revenues.

By revising the practice, it removes the economic incentive for PPA to increase cargo handling rates, the study pointed out.

Other overhaul actions suggested include formulating transparent, fair, and competitive guidelines for granting or extending cargo handling contracts and bidding processes for port privatization.

More competition in foreign containerized cargo operations and cargo handling should be allowed, as well as more foreign participation in port services by relaxing the 60-40 percent rule on ownership.

On the other hand, to promote keener competition and effective regulation in the shipping sector, the report titled “Case Study on Ports and Shipping Services in the Philippines” proposed giving more clout to the Maritime

Power...

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Pow e r C o r p.’s 5 5 - M W plant in Alabel, Sarangani and the 100-MW Western Mindanao Power Corp. plant in Zamboanga City.

Apart from the diesel p ow e r p l a nt s , AC R i s developing coal-fired power facilities to help provide a stable source of baseload power for Mindanao and ensure long-term power security for the island.

These facilities are the 105-MW San Ramon Power Inc. plant in Zamboanga City and the 210-MW Sarangani Energy Corp. (SEC) plant in Maasim, Sarangani.

The first 105-MW section of the SEC plant is currently under construction and will begin operating in 2015.

ACR owns 75 percent of SEC with 25-percent equity held by Toyota Tsusho Corp.

Besides power generation, the company is also engaged in property development, mining and product distribution.

need these to maintain the high quality of their exported products.

“While the General Santos Fish Port Complex and other major fishing ports have undergone expansion and improvement, including in the areas of infrastructure and cold chain, more government funds should be infused until adequate investment levels are attained,” he said.

Is r a e l s ai d re l e v ant fisheries associations can help by actively promoting investment in such services among its members, and exploring joint venture with partner companies in other countries.

“In addition, connectivity between fish-producing and fish-processing islands should be pursued, such as by further improving roll-on roll-off (RORO) shipping,” he added.

The study identified the inadequate state of fisheries infrastructure and cold chain and problems related to internal transport and logistics among the chokepoints that constrain the ability of fish traders to effectively compete in international fisheries trade.

“While fish trade between the Philippines and other ASEAN countries is low at present, there is hope that if and when the AEC materializes, the situation could significantly improve.

Effectively addressing the different chokepoints mentioned will help promote the chances of success,” it noted.

Other impediments in the supply chain cited were import or export clearance, certification and permit processes, transparency and awareness of regulations and nontariff measures.

“With 2015 just around the

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Prices... from page 1

C. Guinigundo said.

“We are in the main harvest season and much has been done. So the impact on rice might be limited. And let us note that this is a supply phenomenon and therefore not persistent,” he said.

The government also has been proactive in its preparation for ‘Yolanda’, Guinigundo said.

Inflation in October went up to 2.9 percent from 2.7 percent in September. Inflation a year ago was 3.2 percent. Last month’s headline figure was within the BSP projection of 2.8 percent to 3.6 percent.

Despite the uptick, the yearto-date figure of 2.8 percent remains well below the full-year target range of 3-5 percent.

--InterAksyon

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Industry Authority (Marina) to help it effectively implement the competitive reforms provided under Republic Act 9295.

Marina is the government agency that develops, promotes, and regulates the maritime industry in the country.

Among the provisions of R.A. 9295 is the deregulation of the domestic shipping industry, intended to encourage investments in the sector.

As with ports, there is a need to develop new skills, institutional capabilities, and practices in regulating unfair or anticompetitive practices in the maritime industry.

There is also the imperative to increase transparency in regulation through clear and public processes in awarding route licenses.

Another recommendation is to relax or remove the 40 percent limit on foreign equity and the prohibition of cabotage.

Finally, Aldaba said the further expansion of the roll-on-roll off (RORO) system was desirable, as it will allow prime mover trucks to roll on and off with loads attached. She also suggested standardizing the design of RO-RO ports or terminals and ships to promote flexibility and avoid terminal ship mismatch for greater safety and security.

-- Romelda Ascutia, PHILEXPORT News and Features

corner, the government and the private sector must work together to address these chokepoints and prepare the countr y for ASEAN competition,” Israel further said.

PDIC... from page 1

the properties, assess and verify the land titles and other documents, and determine unpaid taxes, fees or expenses, if any, before submitting their bids.

The auction will be held on Nov. 25 in General Santos City. The PDIC will receive sealed bids only from direct buyers at the bidding venue.

No extension will be given for the submission of bids.

Only bids from Filipino citizens, or corporations or associations at least 60% owned by Filipino citizens will be accepted.

Interested bidders must also submit a bond or deposit equivalent to at least 10% of their submitted bid. The winning bidder is required to pay the balance of the bid price not later than Dec. 4.

As the state-appointed liquidator, the PDIC sells off assets of closed banks to help recover the deposits and investments of uninsured depositors and creditors.

RCBC... from page 4

increase in low-cost current account and savings account (CASA) deposits to P165.09 billion.

The lender ended S eptember with a loan portfolio of P214.90 billion on vibrant lending to the consumer and SME segments,

which grew by 20 percent and 24 percent, respectively.

Microfinance lending increased 49 percent as Rizal Microbank expands its presence across the country by growing its branch network to 26 from the existing 14.

D e s pit e t h e g row t h in lending, RCBC’s nonperforming loans (NPL) ratio stood at 0.53 percent while its reserve cover stood at 110.02 percent.

“Steadily, the bank has grown its core businesses by deliberately focusing more on recurring and less cyclical sources of revenue,” Tan said.

Fee-based and miscellaneous income increased by 62.80 percent year-on-year to P5.31 billion driven by growth in the bank’s ATM business, trust, underwriting, retail banking and trade transactions, remittance, credit card fees, asset disposal, and bancassurance.

The increased b an c a s s u r an c e a c t iv it y from the bank’s strategic partnership with SunlifeGrepa resulted in fees growing year-on-year by 524 percent to P177.56 million on sales of P6.8 billion, 198 percent higher than a year ago.

RC B C e x p an d e d it s distribution network by opening 8 branches and installing 122 ATMs. This brought its network to 428 branches and 1,132 ATMs. At end-September, the bank’s capital adequacy ratio stood at 18.09 percent, well above the regulatory requirement of 10 percent. Its tier 1 ratio of 16.22 percent also exceeded the six percent regulatory floor.

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november 9-10, 2013

FFEATURE eature

Advertising and Editorial E-mail : businessdailymindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor: Shaun Uy

PANORAMA . This a panoramic shot using the SONY A77v, the DSLT has this feature where all the user needs to do is click the shutter button once and sweep to his right and the SONY A77 automatically stitches the series of shots into a beautiful panoramic vista. One will not worry about camera handling shake - as the SONY A77 has an internal steady shot mode which keeps the camera steady despite light shakes. This is a photograph of the shorelines of Opol, Misamis Oriental. Photo by SHAUN ALEJANDRAE YAP UY

ALPHA SHOOTERS . MDN Lifestyle Editor - Shaun Alejandrae Yap Uy and SONY’s Emely Bautista Suarez (Executive, Retail Sales - Regional Retailer, Channel & Accounts Management -Mindanao) pose for a photoop with their Sony A77 DSLT Cameras. SLT means Single Lens Translucence, which means the mirror is translucent making your image capturing faster as the mirror never flips up like the DSLR camera. You can get your SONY Alpha camera systems at SONY Experience Corner by DESMARK at the Centrio Ayala Mall, Cagayan de Oro City. Photographed with the SONY NEX-6 by GLENN PALACIO.

PANNING . The SONY A77 captures brilliant panning shots giving your photograph the movement you are looking for, this shot was taken with the SONY 55-200mm DT 4-5.6 SAM Lens from a vantage point of about 35 feet. Photo by SHAUN ALEJANDRAE YAP UY

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PHOTOWALKERS. (from left) Liceo University faculty Rex Tagapulot, Camille Suarez, MDN Lifestyle Editor - Shaun Uy, Eastine Taneo, MDN Lifestyle Photographer - Glenn Palacio, Kirk Liponhay, Sarah Jane Ragay, Vinah Maghinay, SONY Mindanao’s Emely Bautista Suarez, and Rex Apilado gather for a couple of hours to do a short photowalk.