Issuu

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 056

Market Indicators

As of 5:55 pm october 11, 2016 (tuesday)

FOREX

PHISIX

US$1 = P48.28

7,534.71

6.3

X Briefly

cents

43.58

points

Agus-Pulangi privatization THE Department of Energy (DoE) is looking at other options on how Mindanao’s main power source, the Agus-Pulangi hydroelectric plants, will be privatized. Energy Undersecretary Felix William B. Fuentebella said the department is considering the transfer of the hydropower complex to PNOC Renewables Corp. (PNOC RC), a subsidiary of DoE-attached agency Philippine National Oil Co. (PNOC) “We will present that as one of the options, but it’s still the call of Congress,” he said. Finance Secretary Carlos G. Dominguez III had earlier directed the DoE to hasten the sale of the power plants, which are managed by stateowned Power Sector Assets and Liabilities Corp. (PSALM). Republic Act 9136 or the Electric Power Industry Reform Act of 2001 (EPIRA) calls for their transfer to private hands.

YOUR Mindanao-wide BUSINESS paper

RELIABLE

IN-DEPTH

Wednesday | October 12, 2016

By ANTONIO L. COLINA IV MindaNews

RESIDENT Rodrigo Duterte supported the call of the banana industry players to establish a Philippine B a n a n a In d u s t r y Council and Banana Research and Development Center to address concerns besetting the industry, but not through an executive order.

At the National Banana Congress in Davao City last Friday, Duterte said he did not sign the executive order prepared by the industry leaders on the proposed

BANANA CONGRESS. President Rodrigo Roa Duterte tells the audience at the National Banana Congress in Davao City Friday that “the greatest promise of the banana growers in the Philippines… is really the law and order” as he urges everyone to help “put together a country that’s bereft of any revolutionary tax, extortion.” ROBINSON NIÑAL/ Presidential Photo

council and research center, as he explained there is a need to have a law so that these will get sufficient funding.

“The proposed measure is the creation of a Banana In du s t r y D e v e l opm e nt banana/PAGE 11

Movie for Peace BUTUAN City – In line with this year’s Mindanao Week of Peace (MWOP) celebration, the Caraga Conference for Peace and Development (CCPD) Caraga is gathering all Caraganons from the universities and nonstate actors to participate in the ‘Movie for Peace’ Contest early in December. Butuan Bishop Most Rev. Juan de Dios Pueblos bared that interested participants are to produce short films reflecting the conflicts in Caraga region. The Caraga Roadmap for Peace will serve as the basis for the movie content. “The Caraga Roadmap for Peace – the document that will provide a regional direction in achieving the pursuit of an inclusive, just and lasting peace for varied conflict lines in the region is the Regional Peace and Order Council (RPOC) Caraga’s ongoing initiative with a vision of a peaceful and progressive Caraga with diverse, empowered and culturally sensitive communities living in a sustainable environment and enjoying equal rights and opportunities,” underscored Bishop Pueblos.

P15.00

Duterte pushes for law creating banana council www.businessweekmindanao.com

FRY CATCH. Children find delight in catching fry using their shirt along the seashore in Patulangon village, Sta. Cruz, Davao del Sur. PHOTO BY GERRY LEE GORIT

Aboitiz Group committed to infra development in M’danao By MIKE BAÑOS, Editor-at-Large

THE Aboitiz Group has reiterated its commitment to fully support government’s thrust for infrastructure development in Mindanao. “ The Ab oitiz Group

is proud to be part of Mindanao’s growth and a re c om m it t e d t o t h e government’s push towards infrastructure development in the island,” said Jaime Jose

“Jim” Y. Aboitiz, director, as he welcomed participants to the 2016 Mindanao Media Party held last week at the SM Lanang SMX. Mr. Aboitiz said 2016 is also shaping up to be a aboitiz/PAGE 11

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

Economy 2 ARMM gov’t ready for onset of La Niña M

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

wednesday|october 12, 2016

ARAWI City -The Autonomous Region in Muslim Mindanao (ARMM) assured that the regional government is ready for the onset of La Niña. Secretar y Atty. Noor Hafizullah “Kirby” Abdullah of the region’s Interior and Local Government department (DILG-ARMM) said during a press conference on October 6, that his office has already convened local government units (LGUs) since May to carr y out disaster preparedness measures. Atty. Abdullah urged all provincial governors as well as city and municipal mayors to take precautionary measures in their respective areas of responsibility. The DILG has launched

new protocols, or procedures, for LGUs to strengthen disaster risk reduction management dubbed Operation Listo. Operation Listo started in 2014 with Listong Pamahalaang Lokal, which i n s t it ut i on a l i z e d l o c a l p ro t o c o l s f o r d i s a s t e r preparedness, response and monitoring. The program was strategized to reach the grassroots with its second component, the Listong Pamayanan, focusing on capacity development intervention that starts from LGUs and cascades to the community. “We already coordinated with the Department of Social Welfare and Development and Department of Agriculture and Fisheries (DAF-ARMM)

for us to be prepared to address the ill effects of La Niña,” Atty. Abdullah said. He also said that the government is implementing a comprehensive program on mitigating the adverse effects of La Niña. This covers agriculture, flood control, food security, and disaster risk reduction measures. The ARMM’s Office of Civil Defense (OCD-ARMM) has conducted an ocular inspection to determine steps to be taken to minimize the impact of floods on low-lying areas. OCD-ARMM has been coordinating with the regional disaster risk reduction and management council, LGUs and partner nongovernmental agencies. ARMM’s Agriculture Secretary Alexander Alonto

said his office is preparing f u n d s t o m it i g at e t h e impact of the wet season.

“Preparations are underway to mitigate the possible impact of the rainy season to

farmers in the ARMM,” Sec. Alonto said. (BPI-ARMM/ PIA-10)

Oro dads authorize MOA with DA for BuB projects SIX more projects will be implemented in Cagayan de Oro city under the Bottom-Up Budgeting (BUB) program. This, after the City Council during its regular session Monday presided over by Vice Mayor Raineir Joaquin V. Uy enacted Ordinance No. 131262016. The ordinance authorizes Mayor Oscar Moreno to enter into and sign the Memorandum of Agreement with the Department of Agriculture-

Regional Field Office 10, covering the implementation of the BuB projects for 2015 under certain terms and conditions. Legislators also earmarked the sum of P10.2 million from the continuing appropriation for calendar year 2015 “NonOffice: General Public ServicesGrassroots Participatory Budgeting Process to be made available as the city’s counterpart fund for six projects. These are the Clustered Community-Based Vegetable

Production, Community-Based Livestock Production, BoarStud Artificial Insemination Center, Livestock Auction Market, acquisition of post harvest facilities equipment and organic fertilizer production composting facility. The MOA was reviewed by the committees on agriculture and fisheries, on finance, budget and appropriations and on laws and rules chaired by Councilors Annie Daba, Edna Dahino and Ian Mark Nacaya.

RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide

These are just some of the participants of Pink Run 2016 which was intended to raise funds for breast cancer awareness. The event was held Sunday morning in Cagayan de Oro City. PHOTO BY MARK FRANCISCO

CNN Philippines TV-9 Manila CNN Philippines TV-12 Baguio CNN Philippines TV-12 Dagupan CNN Philippines TV-26 Tarlac CNN Philippines TV-10 Iriga CNN Philippines TV-4 Iloilo

CNN Philippines TV-8 Bacolod CNN Philippines TV-9 Cebu CNN Philippines TV-5 Cag. de Oro CNN Philippines TV-5 Zamboanga CNN Philippines TV-7 GenSan CNN Philippines TV-9 Davao

DZBS 1368 Baguio DZRL 639 Batac DZTG 621 Tuguegarao DZKI 1332 Iriga DYKW 936 Binalbagan DYKB 1404 Bacolod DYKC 675 Cebu DXKO 1368 Cagayan de Oro DXKS 1080 Surigao DXKD 1053 Dipolog DXKP 1377 Pagadian DXXX 1008 Zamboanga DXKT 1071 Davao DXDX 693 General Santos

CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

3 “Companion” gives hope in 40 seconds Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 12, 2016

In just 40 seconds, 21ye ar ol d d i g it a l ar t i s t Vince S errano aims to provide encouragement to emotionally-burdened people through the help of his animated digital video “Companion”, a story of a lonely boy who almost succumbed to the lure of death but received a second chance at life from a beacon of hope. The young animator‘s short video bested 20 other entries in the “Hope in 40 Seconds” video competition l au nche d i n Ju ne by the Natasha Goulbourn Foundation (NGF), a nonprofit organization dedicated to bringing depression to light. The awarding ceremonies were held on October 6 in observance of the National Mental Health Awareness Month. “Although I heard a lot of suicide cases when I was

still in college, I didn’t put much thought on them until I decided to take on the challenge of doing an animation for NGF. I had to research about mental health and that was when I realized that it is actually a hidden epidemic, a real issue which needs our attention. This further inspired me to do my best so that in my own little way, I would be able to help other people,” Serrano said. The competition encouraged those suffering from depression as well as their loved ones to seek guidance from HOPELINE, NGF’s free 24/7 suicide hotline which can be reached via the following numbers: 804-HOPE(4673), 0917558HOPE(4673), and 2919 (toll free for TM and Globe). “We received a number of exceptional submissions but Companion stood out

A scene from the animated digital video “Companion”

among them with its very clear message of desperation and hope. Through this video which will be distributed via social media and select Ayala Cinemas, we are confident that we can reach out to more

people and provide proper intervention to those who need assistance,” said Jean Goulbourn, President of NGF. At present, a life is lost to suicide every 40 seconds,

making it the second leading c aus e of d e at h among 15-29 year-olds globally, according to the World Health Organization. To add, depression is t he predominant cause of illness

and disability for both boys and girls aged 10 to 19. The campaign is being supported by leading telecommunications company Globe Telecom, companion/PAGE 9

Opinion

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

wednesday|october 12, 2016

The Independent Foreign Policy of Duterte is Just the Beginning

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

Vice President for Administration

joe palabao

Vice President for Marketing

NELSON CONSTANTINO Editor-in-Chief

Cheng ordoñez

gilbert y. chao

Executive Editor

Motoring Editor JOEL ESCOL

BONG FABE

Feature Editor

Associate Editor

CLIFFORD SANTILLAN Layout Artist

JUN AYENSA

sandra encoy

Regional Editor Caraga

Advertising

ATTY. MARIO T. JUNI

Cris diaz mike baños Uriel quilinguing Contributing Editors

Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO Legal Counsel

MARKETING staff manila office: Unit 310 Valero Plaza, Valero Street, Salcedo Village, Makati City; lani vallido-Marketing Manager ARJAY FELICILDA Marketing Staff - CDO

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463826-272-000 – VAT. Reg., and with Business Permit No. 201512879. Tel. Nos.: (088)8578447, 74-5380, 0923-432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com

Member: Philippine Press Institute Oro Chamber

Who Has the Last Word? Think a Minute…Someone said: “Death is the worst part of life!” A famous entertainer once said: “I’m not afraid to die, I just don’t want to be there when it happens!” Unfortunately, when it’s our time to die we don’t have any choice but to be there! Death is a fact of life that none of us can escape! Sooner or later, every one of us is going to stand alone and look death in the face! Don’t forget, the statistics and chances of death are 100%, it never fails: one out of every one people die! No one has ever gotten out of it alive! It doesn’t matter how rich, powerful, strong, or healthy we are—we’re all going to die! It may be a few more years or next week. So are you ready now? But almost worse than the fact of death is the fear of death. In the back of our minds we know that every day we’re getting closer and closer to the day we die. But is our death the end of us? Does death have the last word? Does it destroy our plans for living and take away all our hope? The answer’s quite simple: it depends on how and who you’re living for. When it comes to death,

THINK

A Minute

Jhan Tiafau Hurst Jesus Christ has been there and done that. He walked right into the grave and jaws of death…and came right back out alive! Jesus Christ, not death, is the One Who has the last word. He’s the only person in history who could do it—for one simple reason: He’s God Himself. So we never again have to fear death! You see, if you’re living His way every day in a personal relationship with Him, Jesus said He’s going to lead you safely through death into eternal life with Him. Will death have the last word in your life? Not if you choose to live for Jesus Christ! Only Jesus can get you through death—safe and alive! Only He speaks the last word! And it’s the word hurst/PAGE 9

President Rodrigo Duterte declared a no-strings foreign policy, saying, “We will observe and must insist on the time honored principles of sovereignty, sovereign equality, non-interference, and a commitment to peaceful settlement of disputes”. “An ‘independent foreign policy’ means we’re not subject to any outside pressure and interference. It means we strike a balance among our (foreign) relations,” averred DFA spokesperson Charles Jose. Recently, DFA secretary Atty. Perfecto Yasay said that America has failed us. He lamented that the US does not commit to help the countr y in times of external aggression. The US, according to Yasay, used the carrot and stick strategy to force our acquiescence to the American interests. Critics react to our leader’s autonomous foreign policy suggesting we might lose our aid from the US. To such idea, Duterte retorted that we are not mendicants who should need these aids all the time.

I can see the wisdom of Duterte’s move. The concept: if there is a partnership with any country, it must not mean giving up self-respect and self-determination. This addresses Filipinos w h o c o u l d h av e b e e n mesmerized by the foreign mania: in fact, I still know of Christian groups in Bohol which always have foreigners as speakers at their Sunday services and it seems the leaders and members of those fellowships really adore Americans that as these preachers deliver almost every Sunday, they have Visayan interpreters which could have been viewed as interrupters. Yet, I am amazed that such a culture still persists these days amid globalization. A legislation could have been made to stop such practices that go out of one’s tree and encourages perversion of values. I could still hear people using bleaching soap because they despise their culture and love to be what they are not. Isn’t this crazy?

Duterte is just educating us, awakening our slumbering native intelligence, reminding that our colonization was over a long time ago. I can sense that calling forth independence from foreign strings is a sign of going upward. We see ourselves like adolescents protesting an adult’s constant intrusion to decisions which we are capable of handling. Wake up, Filipinos are getting wiser. Growing their intellectual muscles, they no longer want tutors who just fill in their heads with stuff they want memorized. In the context of wanting an autonomous foreign policy is a crucial information that that the war in Syria is not really a civil war, but a proxy invasion by the US, as the UN Peace Council revealed. The UN Peace Council, t hroug h t heir pr imar y data, uncovered that the US demonized president Assad albeit he is really respected by the Syrians. The foreign forces invading are the real problem in Syria. See to this video to get a better grasp:

lucell larawan http://www.redflagnews.com/ headlines-2016/un-peacecouncil-the-us-media-isly i ng - t o - t h e - am e r i c an people-the-war-in-syria-isnot-a-civil-war-its-a-proxyinvasion-by-the-unitedstates. As we know the real score in Syria, we should be thinking: what can the US do to us as a people? Why allow them to take our autonomy? Let us begin another journey as mature people of wisdom and grit who chart our course because we have the wealth of innovation and confidence to make things fall into place.

Of deteriorating our world order Writing in the German massmarket newspaper BILD, Germany’s Foreign Minister Frank-Walter Steinmeier has said that tensions between Washington and Moscow have created a situation that is “more dangerous” than the Cold War. “All options need to be considered” in light of recent atrocities in Syria, Chancellor Angela Merkel’s spokesman has said, when asked about the possibility of fresh sanctions against Russia. This statement is from October 7, 2016. Steinmeier penned an opinion piece published yesterday Saturday warning that relations between the US and Russia have reached a new low. I came across this article while waiting for my flight back to Davao from Manila. “It’s a fallacy to think that

this is like the Cold War. The current times are different and more dangerous,” Steinmeier wrote in a 214-word guest column published by BILD, Germany’s largest circulation newspaper. The Ukrainian crisis, Syrian conflict and a lapse in nuclear material cooperation between the former Cold War adversaries are listed by Germany’s top diplomat as reasons for the dangerous environment. He laid the blame mostly on Russia for “provoking” a new Cold War but, unlike the Cold War-era, in which the US and Russia had “red lines and respected them” the new multi-polar environment has more regional conflict making geopolitics “more unpredictable.” In my opinion, there is indeed plea for stronger diplomacy. “But in spite of a l l t h e f r u st r at i on ,

disappointment and deep distrust on both sides,” he wrote. “We must continue to search for ways to put an end to the insanity in Syria. The US and Russia must continue to talk.” He closed by urging Moscow to put pressure on D amas c us to allow humanitarian aid into the besieged city of Aleppo. “Russia can and must bring its weight to bear. And the regional players have to assert their influence on the fighters in Aleppo,” he concluded. This comes as the UN Security Council is poised to vote on two rival resolutions on Syria on Saturday, one drafted by France calling for an end to air raids on Aleppo and a second by Russia that makes no mention of a halt to aerial bombardment. I experienced myself growing up and later residing

H ave M y Say

Klaus Doring

in West-Berlin during times of the Cold War. Steinmeier’s opinion could really frighten us. But he is so damned right ... ! +++ Email: doringklaus@gmail. com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines. blogspot.com or www.klausdoringsclassicalmusic.blogspot. com .

Haiti death and destruction: more to come LIFE’S INSPIRATIONS: “… `Heaven and earth will pass away, but my words will neverpass away’…” (Jesus Christ, our God and Savior, in Matthew 24:35, the Holy Bible). -ooo H A I T I D E AT H & DESTRUCTION: MORE TO COME: The scenes from Southern Haiti, the Caribbean country devastated by Hurricane Matthew four or five days, could have been those of other countries that experienced strong rains and howling winds and instantly rising floodwaters. There were death and devastation ever ywhere, and the last count as of

October 09, 2016 was that some 900 people perished in this natural disaster of rains, floods, and strong winds which, undeniably, is truly becoming a natural phenomenon or occurence in the whole world. The good news is that, p e opl e are once ag ain launching an international effort to help the people of Haiti. The bad news is that, no, Hurricane Matthew is surely not going to be the last of its kind. There will be more hurricanes and typhoons, in Haiti and everywhere else in the world, including the Philippines, in increasing deadly and devastating manner.

-ooo HAITI’S RAINS, FLOODS, & WINDS PREDICTED LONG TIME AGO: What is amazing here is that, the coming of these rains, floods, and strong winds was accurately predicted and prophesied some two thousand years ago. The whole world was told that rains, floods, and strong winds will come, and people will be suffering from a great crash, in a manner of speaking. Yet, nobody but nobody paid any attention, and nobody but nobody prepared for what was prophesied and predicted. Either the world simply did not believe

K ak ampi

Mo A ng Batas

Atty. Batas Mauricio the prophecies, or, if ever they believed, they nurtured the mistaken belief, with great encouragement from their leaders, that the death and destruction that were batas/PAGE 11

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

wednesday|october 12, 2016

CorporateWorld

Car sales up 16% in September

OM B I N E D s a l e s of Chamber of Automotive M a n u f a c tu r e r s of t h e Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) reached 31,451 units in September, up by 16.2 percent from 27,089 units in the same month in 2015. B ot h pass enger cars and commercial vehicles segments posted doubledigit growth last month. Commercial vehicles sales increased by 18.2 percent to 19,341 units this

year from last year’s figure of 16,366 units. Light commercial vehicles shared the largest sales in this segment with a total of 12,174 units, an increment of 9.3 percent from September 2015’s sales of 11,134 units. This is followed by Asian utility vehicle with sales jumping by 34.9 percent to 5,954 units, light trucks with sales of 754 units, trucks and buses category IV with 330 unit sales, and category V with 129 units. Sales of passenger cars

also grew by 13.1 percent to 12,110 units from 10,703 units. Meanwhile, January to September 2016 sales went up by 26.7 percent to 261,370 units from 206,284 units in the same period last year. C om m e rc i a l ve h i cl e sales increased by 34.4 percent to 164,334 units while passenger cars sales rose to 97,026, up by 15.5 percent. “With continued st rong market demand and enough supply and new model introductions

during the Sixth Philippine International Motor Show last September, third quarter sales remained strong. We expect sustained growth as we enter the fourth quarter,” said CAMPI President Atty. Rommel Gutierrez. For the first three quarters of the year, leading car manufacturers in the Philippine mart were Toyota with market share of 44 percent, Mitsubishi with market share of 17 percent, Ford with 10 percent, Isuzu with 8.0 percent, and Honda with 7.0 percent. (PNA)

Samsung temporarily halts Galaxy Note 7 production SOUTH Korea’s Yonhap news agency says that Samsung Electronics has temporarily halted production of Galaxy Note 7 smartphones. Citing an unnamed official at a Samsung supplier on Monday, Yonhap reported that the tech giant took the unprecedented measure for consumer safety. The move comes after reports that Samsung’s replacement devices had caught fire. The Note 7 recall and Samsung’s handling of incidents have left the company facing its biggest crisis in years. Samsung seemed to have the trouble under control but consumers started to report that the new Note 7, which replaced the recalled hazardous Note 7, also began to catch fire. Last week, authorities had to evacuate a Southwest Airlines flight when a replacement phone began emitting smoke. Samsung Electronics did not respond to a request seeking confirmation.

RESORTS, HOTEL & RESTAURANTS DIRECTORIES

A PUBLIC SERVICE BY:

Algen’s Dive Resort (088) 3872015

Pryce Plaza Hotel 8583131 Fax: 726687

Apple Tree Resort & Hotel 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 0939-9076948

Prawn House (088) 3095992 Fax: 8519219 Ridge View Chalet 8588946 / 8587946 Fax: 8588946

Bahay Bakasyunan sa Camiguin (088) 3871057 / 3870131 Fax: 3870278 Basamanggas Resort 08822-760564 Fax: 760565 Cagayan Riverview Inn 8584245 / 729039 Fax: 8584245 Casa Crystalla 8561704 / 722465 Fax: 722480 Casa Isabella (088) 8564065 Casa Azucena 8563402 / 09236593973 Chali Beach Resort 732840 / 8552108 Fax: 8555941 Chananthon Bed & Breakfast 8568189 / 3093095 Country Village Hotel 8583004-06 Fax: 8583006 D’Budgetel 8564200/726643 Fax: 8564300 Dahilayan Forest Park 8568562 to 63 De Luxe Hotel 8572144 / 724548 Fax: 724563

Samsung Electronics Galaxy Note 7 smartphones are displayed at a mobile phone shop in Seoul, South Korea, Monday, Oct. 10, 2016. South Korea’s Yonhap news agency says that Samsung Electronics has temporarily halted production of Galaxy Note 7 smartphones. (AP Photo/Ahn Young-joon)

Tiu’s AgriNurture moves to expand in China AG R I N U RT U R E , Inc . is looking to expand its business in China as it acquired a stake in an agricommodity trading company based in Zhongshan City, Guangdong Province. In a disclosure to the stock exchange on Monday, AgriNurture said its board of directors on Oct. 7 approved its acquisition of a 49% interest in Zongshan Fucang Trade Co., Ltd. for 42.62 million yuan or around P308 million. The company, owned by businessman Antonio L. Tiu, said it entered into an agreement with Liang Shunming, who owns 90% of the total registered capital of Fucang, for the stake. Fucang’s business involves the importation of rice and fruits from Southeast Asia, and the export of spices from China to other countries. “ The acquisition is expected to expand the trading business of the company and to develop

new distribution networks in China,” AgriNurture said. At present, AgriNurture supplies homegrown fruits su ch a s b an an a , s we e t pineapple and papaya to customers in the Greater China Region. Aside from its trading business, Fucang indirectly o w n s 5 1 % o f Xu z h o u Shengmei Century Property Co. Ltd., which has a rural real estate development in Xuzhou, China. AgriNurture swung to a P6.98-million profit in the January to June period, from the P38.5 million loss during the same period in 2015. In the first six months of 2 0 1 6 , Ag r i Nu r tu re’s total revenues fell 76% to P360.4 million from P1.48 billion a year ago. This was attributed to a slump in export sales, and an 88% decline in foreign trading operations after it exited operations in Australia and Europe.

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 Hotel Conchita 8563856 / 727355 Fax: 8563857 Hotel Koresco 8589749-50 Fax: 8589748 Hotel Sogo 8520383 Kingston Lodge 8585696 Fax: 8585696

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 Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003 La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605 Missy Bon Bon 8566852 / 09228606442 Fax: 8566852 SLERS Ham & Café 8551438

Mapawa Natures Park 8584402 Fax: 725265

Thai Me Up 738424/3108424 Fax: 738424

Mallberry Suites 8541999 / 7249999 Fax: 8544999

Barkadahan Grill 8551234

Maxandrea Hotel 8572244/729943 Fax: 724090

La Tegola Cucina Italiana 8585959

Miami Inn 8581901 to 02 Fax: 725279/728486 N Hotel (088) 8801924 Paras Beach Resort 8568563 Fax: 8568563 Philtown Hotel 726295 / 8564402 Fax: 723104

limketkai luxe hotel 8800000 Dear manok 8564914 / 8573413 LIMKETKAI LUXE HOTEL Landline: (088) 880-0000, Mobile: 0917-312-4563 Email: info@limketkailuxe.com

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

wednesday|october 12, 2016

Department of Tourism X Singing Ambassadors “Singing Minstrels of the East” GRAND CHAMPION Lanao del Norte Represented by Ms. Traeh Rue Adz Rodriguez won Singing Ambassador 2016 Champion during National Tourism Week Celebration last September 25, 2016 held at SM City, Cagayan de Oro City.

Ms. Traeh Rue Adz Rodriguez wih Tourism Czar & Regional Director Catalino “Butch” E. Chan III.

DOT Singing Ambassadors

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

wednesday|october 12, 2016

Banking&Finance

7 SUNSET AT THE BEACHFRONT:

The Ultimate Beach Music Experience is coming to the Coastline Electronic Dance Music Festival 2016

Candidates for Hot Momma Patag 2016 tensely wait for the results. The pageant is a project of Patag, Cagayan de Oro City barangay chair Mary Cor Calizo. PHOTO BY MARK FRANCISCO

OFWs in Taiwan to get 5% salary increase in 2017 O VERSEAS Filipino workers (OFWs) in Taiwan will get 5.0 percent increase in their wages starting Jan. 1, 2017, an official of the country’s representative office in Taiwan said. Manila Economic and Cultural Office (MECO) Chairman of the B oard Angelito Banayo told the Philippines News Agency in a chance interview during the 105th National Day

Bangko Sentral rediscounting total P10.67B end-August

THE Bangko Sentral ng Pilipinas’ (BSP) rediscounting facility moved up a bit to P10.73 billion as of endSeptember from the previous month’s P10.67 billion. Rediscounting loans are standing credit facility for banks requiring temporary cash needs. The BSP said 76 percent of these funds went to credits consisting of capital expenditures and permanent working capital. The rest or 24 percent went to commercial credits and less than 0.1 percent to production credits. The BSP’s Exporters’ Dollar and Yen Rediscounting Facility is unchanged at $10.4 million since May this year. The BSP also has a yen facility but it has remained unavailed. The BSP currently operates two rediscounting windows (RW). The decision to create two rediscounting windows was intended to make these facilities more market-based. bsp/PAGE 9

Reception of Taiwan at the Sofitel Philippine Plaza Manila that the government of Taiwan had finalized two weeks ago the 5.0-percent hike in minimum wage. “Starting January 1, there will be 5.0 percent increase in salaries for all our OFWs. This is good news,” said Banayo. Early last month, the Minimum Wage Review C ommittee of Taiwan’s Ministry of Labor passed

a resolution hiking the monthly minimum wage in Taiwan. Current monthly minimum wage in Taiwan is at NT$ 20,008 or around PHP30,771. “Starting 2017, it will be NT$ 21,009 or an increase of NT$ 1,001 equivalent to roughly PHP1,500 per month,” the MECO chair added. There are around 135,000 OFWs in Taiwan

mainly working in s e c tors of infor mat ion and communication and optical products, according to Taiwan Economic and Cultural Office here. Data from the Bangko Sentral ng Pilipinas showed that remittances from Taiwan in January to July this year amounted to USD166.9 million, an increase of 15.3 percent from USD144.7 million in the same period last year. (PNA)

THE oversight body for g ov e r n m e nt - ow n e d o r -controlled corporations (GO C Cs) is prop osing that instead of selling the Philippine Postal Savings Bank (Postal Bank), it should instead be absorbed by an existing state-owned lender, a ranking finance official said yesterday. Finance Undersecretary Gil S. B eltran said the Governance Commission on GOCCs (GCG) is recommending the merger of the state thrift-lender Postal Bank with either Land Bank of the Philippines (LandBank) or Development Bank of the Philippines (DBP). “This is just a proposal from the GCG, nothing is final yet on the planned sale of the Postal Bank,” Beltran said in an interview. “This is a very small asset of the government, and GCG believes we can fully utilize this asset if it’s absorbed by one of the government banks.” The finance official said that Land Bank or DBP

could use Postal Bank for its expansion program. This is contrary to what Finance Secretary Carlos G. Dominguez III said before that the government was to pursue the sale of Postal Bank and United Coconut Planters Bank (UCPB). Dominguez said the government may sell the UCPB and Postal Bank within the first three-years of the Duterte administration barring any legal obstacles. “We want to do it [the sale] as quickly as possible. Realistically they have to value the banks, they have to do due diligence and bid it out,” Dominguez said. “We don’t have any problem with the Postal Bank, while UCPB has some legal troubles.” Beltran, meanwhile, said the government has yet to come up with the valuation for Postal Bank. Data from the Bangko Sentral ng Pilipinas (BSP) showed that Postal Bank’s total assets stood at R12.07 billion as March this year. Established in 1906,

the Postal Bank was closed down in 1976 as a result of competition with privately ow ne d b an ks, but was reopened in 1994 pursuant to the provisions of Republic Act No. 7354, the charter of the Philippine Postal Corp. The proposal to absorb the operations of Postal Bank comes after GCG abandoned a plan by the previous administration to merge the Land Bank and DBP. Last month, GCG resolved to cancel the implementation of Executive Order No. 198 issued by former President Benigno S. Aquino III earlier this year that green-lighted the DBP-LandBank merger. Dominguez earlier said he was thumbing down the planned LandBank-DBP merger as it would not serve the public interest to transform the two institutions into one, given their different functions. He noted that the Land Bank serves the agriculture sector, while the DBP takes care of the needs of industry.

LandBank or DBP may absorb Postal Bank

(Nor t he r n Mi nd anao, PHILIPPINES)- An exclusive event is coming to the coastline of Opol, Misamis Oriental as Apple Tree Resort and Hotel, the premier Beach Resort in Met ro C agayan de Oro in partnership with Business Week Mindanao, Mindanao Daily News and Whe n In Man i l a ( w w w. w h e n i n m a n i l a . com) brings the first full scale outdoor electronic dance and music festival dubbed as “SUNSET at the Beachfront” this October 28, 2016 (Friday). SUNSET at the Beachfront: An Electronic D ance Music Fest iva l positions itself not just as an entertainment event, but consciously makes the effort of promoting the tourism and lifestyle of Metro Cagayan de Oro and provides opportunities to the people to engage in activities promoting the quality of life through the latest music festival scene. T h e e v e nt w i l l b e welcoming some of the b i g g e s t DJ n a m e s o f today that have proven to be masters of their own distinct styles to perform for some true electronic music sensation taking the hotel’s coastline with unforgettable music experience and guaranteed with state of the art sound system, stage designs, lighting system, pyrotechnics, and laser show with attractive performers and dancers by The B OMB BEATS DANCERS spearheaded by MC Jared of Metro Davao. The event will also feature a Beach Volley friendly competition, and Bikini Open together with a large variety of foods offering a wide range of flavors and cuisines as part of the overall experience. Official line up for the SUNSET at the Beachfront event are as follows: 1. FRIDAY RUBRIATOA former freelance model and Brand Ambassadress, Friday is one of Metro Davao’s breakout DJs. Here immense passion for music gave her a place in the industr y and is currently considered as

one of D avao’s r ising talents. She started out as a resident DJ of STARR, the iconic nightlife destination in Davao. She also signed as resident DJ for WAVE SUPERCLUB, G e n e r a l S a nt o s C it y, and currently a resident DJ of ACROPOLIS SUPERCLUB, Davao City. 2. CHRIS FOX- One of Metro Davao’s sought after male DJs, Chris Fox has been mixing up great music since he was a former DJ of both Killer bee Davao and Magic 89.1. Currently a resident DJ of HYBRID Davao. 3. RB BANAAG- The son of Cocoy Banaag, one of CDO’s original DJs, RB is one of the most sought after DJ’s in Metro Cagayan de Oro. Recently won as DJ of the Year in a Lifestyle Award based in the city, RB has won recognition from EDM Phi lippines and R ave Philippines. 4. THE RAINMAN- A free-lance Club DJ based in Cagayan de Oro, The Rainman is also both a College Professor and a Senior Clinical Instructor in Surgery in one of the biggest Universities in the city. Originally from Manila, he started his roots from being a hobbyistmobile DJ. The passion for the music could not be contained and it continued in 52nd Club in Central London where he played his music for most of the Filipino events and parties in the West End and Central London. Early bird rates and ticket details: 1. GENERAL ADMISSION: - P300.00 (Early Bird Rate), - P350.00 (Regular Rate), - P500.00 (On the Day Rate) - Inclusions: EDM Festival Pass, 2 FREE Drinks with picapica, Balloon, General Admission Ticket (1 pass). 2. VIP GOLD: - P500.00 (Early Bird Rate), - P600.00 (Regular Rate), - P700.00 (On the Day Rate) - Inclusions: EDM Festival Pass, VIP GOLD Zone Pass, 4 FREE Drinks music/PAGE 9

quality tarpaulin printing contact: mindanao daily news publishing corporation Mdntarps@gmail.com

(0935) 161 3398 look for Anabelle, (088)881-0100

Tanleh Bldg. Abellanosa St., Consolacion, Cagayan de Oro City

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

wednesday|october 12, 2016

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

wednesday|october 12, 2016

Companion... from page 3

the Department of Health, and the UP JMA, a universitywide student organization which adopted the campaign as an organization project called SPARK: The Movement to promote healthy lifestyle and to spread hope among the country’s youth. “G l ob e i s a l ong time partner of NGF in providing the information and communications technology infrastructure for HOPELINE. Being an ICT company, Globe also believes that it is its duty to protect and educate the people on the impact of technology. Through the video, we hope that we can also prevent young people from taking their lives due to cyber bullying which causes a lot of pressure and stress,” said Fernando Esguerra, Globe Director for Citizenship. Globe currently runs the Digital Thumbprint Program workshops for students to guide them on responsible online behaviour and has also forged a partnership with the United Nations Children’s Fund (UNICEF) Philippines and the Ateneo Human Rights Center for the protection of children against online exploitation. C ompanion (https:// youtu.be/Csdutnv_38I ) not only bagged the grand prize but was also the recipient of the People’s Choice Award. Its closest competitors are Catch of Hope (https:// www.youtube.com/watch ?v=fuKRm9B1bWE&feat ure=youtu.be) created by Chih-Chiang “Jason” Wei and Heartless (https://youtu. be/hkFkUxUs0Dw ) of Noel Manao. Catch of Hope talks about the loss of what a young man believed to be everything to him, prompting him to jump from a bridge. Seconds before his death, he gets caught by the unexpected. On the other hand, Heartless is about the potential of a person to be emotionally whole again despite having been trapped in a dark corner of his mind. It aims to encourage the path to self-discovery and recovery with the help of HOPELINE. The entries were chosen based on the following criteria: Originality - 15%, Storyline/Concept - 20%, Relevance to the Theme – 15%; Technical Skills – 15%; Creativity – 15%, Visual Impact – 20%.

Batas... from page 4

promised will not happen. A n d s o, we are n ow w it n e s s i ng t h e fo l l y of people. Not believing and not acting on what have been told them long before the death and destruction today are happening, many are perishing and are being destroyed. The tragedy here is that, all of these death and d e v ast at ion cou l d have been prevented, if only we paid attention. -ooo BIBLE PROPHECIES ON RAINS, FLOODS,

COMING TRUE: Where were these prophecies and predic tions wr itten? In the Bible, where else! They w e re a c t u a l l y m a d e by Jesus, our God and Savior! Su rely, we shou l d have believed what Jesus said, for He is God, the Father, Son, and Holy Spirit who k n ow s e v e r y t h i n g . B u t many chose to ignore or disbelieve Him. In Matthew7:24-27 of the Bible, this was Jesus spoke: “…`Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built h i s h ou s e on t h e ro ck . The rain came down, the streams rose, and the winds blew and beat ag ai nst t h at hou s e ; ye t it did not fa l l, b e c aus e it had its foundation on the rock. “But ever yone who hears these words of mine and does not put them into practice is like a foolish man who built his house on sand. The rain came down, the streams rose, and the winds blew and beat against that house, and it fel l w it h a g re at crash’...” On a final note: did you notice that the name given to the deadly Hur r icane in Hait i was Matthew and the Biblical verses on rains, winds and f loods were written by Matthew? -ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 2 4 H O U R S a d a y, i n the Philippines and the world at w w w.facebook. com/angtangingdaan or w w w. f a c e b o o k . c om / ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: b a t a s m a u r i c i o @ y a h o o. com.

BSP...

from page 7

The p es o redis count rates for RW I and RW II are based on the applicable BSP one-month repurchase rate and overnight reverse repurchase rate. With the implementation of the interest rate corridor last June 3, the BSP set new rates for each windows based on loan maturity. Both the peso rediscount rates for RW I and RW II are based on the available o n e - m o nt h re p u rc h a s e rate and overnight reverse repurchase rate. The rates for RW I for 90-day and 180-day are 3.5625 percent and 3.6250 percent. For RW II, the rates are three percent for the 90-day and 180-day, and 3.0625 percent and 3.125 percent for 360-days. In late 2014, the BSP approved additional e l i g i bi l it y re qu i re m e nt for banks availing of rediscounting loans for temporar y liquidity support. Banks that will avail of

a rediscounting loan must not have chronic “reserve deficiency” in its deposit or deposit liabilities. A bank will be considered non-compliant with the reserve requirement when its actual net reserve position cannot be determined due to delayed submission or n on - s u bm i s s i on of t h e relevant reserve report. In 2013, the BSP amended it s p e s o re d i s c ou nt i n g window to encourage the big banks to access their temporary funding requirement from the market rather than from the BSP. RW1 is for universal and commercial banks while RW II for thrift banks, rural and cooperative banks.

Music... from page 7

with pica-pica, 1 Pool Ticket, Balloon, VIP GOLD Ticket (1 pass). 3. VIP PLATINUM: - P850.00 (Early Bird Rate), - P1,000.00 (Regular Rate), - P1,300.00 (On the Day Rate) - Inclusions: EDM Festival Pass, VIP PLATINUM Zone Pass (Table & Sitting Area with Top View), 2 Pool Tickets, Unli Drinks w/ Set Meal, Balloon, Glow st i ck , V I P PL AT I N UM

Ticket (1 pass), & VIP Parking Area. EARLY BIRD TICKET SELLING: October 05-15, 2016. REGULAR TICKET SELLING: October 16-27, 2016. Watch the sun set around you, and take the music festival to the next level with an exclusive party to celebrate October! This event is for attendees 18 and above only. Get your tickets at Apple Tree Resort and Hotel, Taboc, Opol, Misamis Oriental. For more information, please reach these contact information: 0917-714-4040, 0917-7185 1 5 2 , f ant ast i c e s c ap e @ appletreeresortcdo.com. Like us on facebook: w w w. f a c e b o o k . c o m / Ap p l e Tr e e R e s o r t H o t e l and visit us through www. appletreeresortcdo.com. This event is brought to you by the following MEDIA PARTNERS: Business Week Mindanao, Mind anao D ai ly Ne w s , When In Manila (www. w h e ninm ani l a . c om ) , M Magazine (Live and Living Mindanao), Best Spots PH (w w w.bestspotsph.com), CDO Bloggers, Inc. (www. cdobloggers.net), Easy Rock 96.9 FM Station, Orange Magazine TV, The Cagayan de Oro Times, and Mindanao Star.

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

wednesday|october 12, 2016

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

wednesday|october 12, 2016

Banana... from page 1

Council. Now it should be a law, I cannot give executive order. So, because if you need something, money or otherwise; if you need government to intervene – the legal standing has to be something like there is a law, the force of law in the creation of the banana research institute,” he said. Ferdinand Marañon, President of the Philippine Exporters Confederation (Philexport) 11 said the banana players decided to put up an interim body, composed of six private sector members and three representatives from the Department of Agriculture, Department of Trade and Industry, and the local government unit, to push for the passage of the Philippine Comprehensive Banana Act of 2017. A resolution was passed by the Banana Congress endorsing the establishment of a Philippine Banana Research and Development Center. The resolution said the country’s banana industry is facing serious challenges that threaten its viability such as climate change, diseases including Fusarium Wilt, Black Sigatoka, Banana Bunchy Top and Moko; an d c omp e t it i on f rom other banana-producing countries that are devoting much resources to research and development of better varieties and more efficient and advanced farm technologies. “ These threats can be proactively addressed through scientific researches, c ompre h e ns i ve s tu d i e s on banana research and development processes and technology, crop protection, pest and diseases management and cultivar variety banking and-adding products from banana,” it said. It s aid t he res e arch and development center is essential in providing scientific, technical and env ironment a l-f r iend ly technologies and processes to promote the development of the industry from preproduction to post-harvest and from farm to market. The Philippine banana industry earns for the country P1.13 billion annually, provides livelihood for 503,058 farmers, producers/ processors, the resolution said. More than half of the total area planted to banana is situated in Mindanao with 247,407 hectares out of the total 442,751. Duterte also acknowledged the contribution of the agriculture sector to the economy of the country and the need to address the insurgency problem in the country to further the growth of the agriculture. “Well, the greatest promise of the banana growers in the Philippines, for that matter, is really the law and order. Until and unless we can put together a country that’s the bereft of any revolutionary tax, extortion, and everything, isusunog

iyong farm implements, it’s because of the taxation. If it’s not the taxation of the Communists, it’s the extortion of the roving bandits in Mindanao,” he said.

Aboitiz... from page 1

good year for the Aboitiz Group, b eg inning w it h A EV ’s ( Ab oit i z E q u it y Ventures) 34% year-onyear income growth in the first half. AEV is the public holding and management company of the Aboitiz Group of Companies. This lends credence to the group’s two-pronged strategy of organic growth while diversifying income streams from our infrastructurer e l at e d b u s i n e s s e s , h e explained. “Government’s allocation of 5.2% of Gross Domestic Product for purely i n f r a st r u c tu re proj e c t s bodes well for the group’s infrastructure business.” “Participating in these developments is high in our priorities, and expect the Republic Cement Group to play a significant role in helping the government build better infrastructure for our growing economy,” he stressed. “Here in Davao, Ap o A g u a i s m a k i n g headway in its efforts to get the bulk water project off the ground very soon.” The group is also active in the power industry with Ab oit i z Powe r a l re a dy g e n e r at i n g a t o t a l n e t sellable generating capacity of 3,350 megawatts (MW) from a mix of renewable and non-renewable power sources. The 300-MW Therma South baseload plant in

Toril, and its latest renewable energy (RE) facility, the 59MWp Sacasun solar plant in Negros Occidental were both launched this year. “Once complete d, the Manolo Fortich Hydroelectric Power Project in Bukidnon will add 69MW to our Cleanergy portfolio, currently at 1,263MW,” said Mr. Aboitiz, who also sits as executive vice president of Aboitiz Power C orp. (APC). “APC is doubling efforts towards increasing our generating capacity to 4,000 MW by 2020.” In other infrastructure projects, AboitizLand is launching its maiden land proj e c t s i n Lu z on t h i s year and is now looking to exp and in D avao as w e l l , w i t h t h e g r ow t h in the local residential, commercial, business process outsourcing, and retail industries. “2016 is a banner year for this part of the country and we are glad it is f inally getting the attention it deserves,” he said. “ As Finance Secretary Dominguez himself said, now is the best time to bring investments to the next economic Promised Land.” The group’s service sector affiliates are performing as well. “UnionBank is staying focused on its FOCUS 2020 roadmap, building a great retail bank with greater efficiency for an increasingly digital economy. We also congratulate the City Savings Bank on its 50th anniversary this year and proudly carr ying on the legacy of ser vice to our

Republic of the Philippines SUPREME COURT REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE File No. EJF-2016-463

Upon Extra-Judicial Petition for Sale under Act 3135 as amended, filed by HOME DEVELOPMENT MUTUAL FUND (Pag-IBIG Fund) with branch office at Pag-IBIG Fund Bldg., J.R. Borja St., Cagayan de Oro City, against ALLAN F. BUNA, with postal address c/o at seablings Restaurant, Opol, Misamis Oriental, to satisfy the mortgage indebtedness which as of August 22, 2016, amounts to FOUR HUNDRED NINE THOUSAND FIVE HUNDRED ONE PESOS & 35/100 (P409,501.35) Philippine Currency, as mortgagor’s total indebtedness inclusive of interest and penalty charges, excluding other necessary fees and expenses of Extra-Judicial Foreclosure and Sale, the undersigned Sheriff-in-charge will SELL at Public Auction on NOVEMBER 7, 2016 at 10:00 o’clock in the morning or soon thereafter, at the Tourism Hall, City Hall Compound, Cagayan de Oro City, to the highest bidder for CASH and in Philippine Currency, the real property mortgaged together with all existing and future improvements thereon, to wit: TRANSFER CERTIFICATE OF TITLE NO. 136-2013001010 Registered in the name of ALLAN F. BUNA ‘’A PARCEL OF LAND (Lot 12, Block 9, PSD-10-059077, being a portion of Lot 2, PCS-10-003972).Situated in the Barrio of Malanang, Municipality of Opol, Province of Misamis Oriental, Island of Mindanao. Bounded on the x x x. Beginning at x x x; containing an area of One Hundred Ten (110) Square meters, more or less’’ Prospective Buyers/Bidders may investigate for themselves the title herein above described and encumbrance thereof, if any there be. In case November 7, 2016 will be declared holiday or non-working day, the Public Auction Sale shall be held on November 11, 2016 without further notice, publication and posting.

Cagayan de Oro City, October 3, 2016.

FOR THE EX-OFFICIO PROVINCIAL SHERIFF By: (Sgd.) JOSEPH C. MAAGAD Sheriff IV

BWM: October 12, 19 & 26, 2016

pu bl i c s c h o ol t e a c h e r s nationwide. The ‘Simple is Good’ banking philosophy of founders Don Ramon Aboitiz and Timo Abellana lives on.” On June 1, 2015, AEV acquired 51% equity interest in PETNET, Inc., which is engaged in providing money transfer services as a direct agent of Western Union and allowing local businesses to make international payment transactions in over 140 currencies. “PETNET earlier this year unveiled PERA HUB, its brand reboot that highlights its customer-friendly urgent money transactions for a growing market,” Mr. Aboitiz disclosed.”It serves as a one-stop f inancial ser vices hub that offers competitive ser vices for Filipinos here and abroad.” BetterWorld for the Pawikan Throughout these developments, the group seeks to uphold its Aboitiz BetterWorld sustainability mindset: “We can do well by doing good, in always making the right long-term decisions that balance the interests of people, planet, and profit.” T h e e x e c ut i v e c it e d t h e Ab o i t i z C l e a n e r g y Park i n D av a o C it y as an emb o diment of t his philosophy. “ We t h a n k a l l t h e volunteers from the l o c a l g ov e r n m e nt , ou r communities, and our own Davao Light team members who came to support the

recent clean-up drive at the Park. Time and again, Davaoeños set the bar high whenever an opportunity to rally behind a cause comes around.” He encouraged media f r i e nds to supp or t t he “ # B e t t e r Wo r l d f o r t h e Paw i k an” c ons e r v at i on campaign to raise awareness and enlist public support for t he prote c t i on and preservation of the critically endangered Hawksbill sea turtle. A #WeatherWiser Nation Mr. Aboitiz also invited the participants to download the free WeatherPhilippines mobile app as the company’s contribution to building a #WeatherWiser nation by promoting risk management and disaster preparedness. In relation to this he introduced Pilmico’s latest product, The Care Package high-energy biscuits that are tasty and effective emergency provisions containing essential nutrients to boost one person’s energy. Last month, the Aboitiz Group sent over 14,000 of these for distribution in the Batanes relief operations. AEV’s core businesses, conducted through various subsidiaries and affiliates, are grouped into five main categories: p ower distribution, generation and retail electricity supply; financial ser vices; food manufacturing; real estate; and infrastructure. The company also has por tfolio investments that include holdings in

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region BRANCH 38 Cagayan de Oro City SHERIFF’S NOTICE OF AUCTION SALE EJF File Number 2016-404 Upon EXTRA-JUDICIAL PETITION FOR SALE under Act 3135 as amended, filed by HOME DEVELOPMENT MUTUAL FUND (Pag-IBIG Fund), mortgagee, with branch office at Pag-IBIG Fund, J.R. Borja Street, Cagayan de Oro City, against BIBIANA LYN T. AGUHA, married to Ismael C. Aguha, with postal address at 460 R-3ZP De Guzman Street, Quaipo, Manila, to satisfy the mortgage indebtedness which as of August 5, 2016, amounts to Four Hundred Nineteen Thousand Eight Hundred Forty Two Pesos & 66/100 (Php419,842.66), Philippine Currency, inclusive of interest and penalty charges, excluding other necessary fees and expenses of extra-judicial foreclosure and sale, the undersigned Sheriff or his deputies will sell at public auction on November 15, 2016, at 10:00 o’clock in the morning or soon thereafter, at Regional Trial Court, Branch 38, temporarily holding office at the City Tourism Hall, City Hall Compound, City Hall, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the real property described herein-below, with all its improvements found thereon, viz: ‘’TRANSFER CERTIFICATE OF TITLE NO. 136-2013001387 (Registered in the name of Bibiana Lyn T. Aguha, married to Ismael C. Aguha) LOT: LOT 38, BLOCK 6, PCS-10-004225 CONSOLIDATION-SUBD.: LOT 6, PCS-10-003972 AND LOT 1, BLOCK 24, PSD-10-059077 AS SURVEYED FOR: JOHNDORF VENTURES CORPORATION (PAGIBIG CITI HOMES) PHASE 3LAND USE: RESIDENTIAL: LOCATION: MALANANG, OPOL, MISAMIS ORIENTAL BOUNDARIES: LINE 2-3 BY ROAD LOT 7 (8.00 M. WIDE) SW.,LINE 3-4 BY LOT 36; XXX, CONTAINING AN AREA OF NINETY FIVE (95) SQ. MTRS. MORE OR LESS.’’ Prospective buyers/bidders may investigate for themselves the Title of the property above-described and all encumbrances thereon, if any there be. In the event that said scheduled auction sale on November 15, 2016 will be declared holiday or non-working day, the same will continue on the next working day without need of further notice, publication and posting.

Cagayan de Oro City, October 4, 2016. FOR THE EX-OFFICIO PROVINCIAL SHERIFF:

(Sgd.) REYNALDO L. SALCEDA Sheriff IV

BWM: October 12, 19 & 26, 2016

av i at i o n t h ro u g h A EV Aviation, Inc.; production of biogas through AseaGas Corporation; underwriting of insurable risks of AEV through Archipelago Insurance Pte. Ltd.; and bulk water treatment through Apo Agua Infrastructura, Inc. The significant subsidiaries of AEV as of Decemb er 31, 2015 are Aboitiz Power Corporation, Pilmico Foods Corporation, and Aboitiz Land, Inc.

EXTRA-JUDICIAL SETTLEMENT WITH A DEED OF ABSOLUTE SALE OF A PARCEL OF LAND KNOW ALL MEN BY THESE PRESENTS: This EXTRAJUDICIAL SETTLEMENT WITH A DEED OF ABSOLUTE SALE is made and entered into this_____ day of________________in the City of Cagayan de Oro, Philippines, by and between: HEIRS OF THE LATE CALAMERO PAYLA, represented by his legal heirs/children, namely: PAQUITO PAYLA & GOMER PAYLA, both of legal age, Filipino citizen, both married, with residence and postal address at Moog Laguindingan, Mis. Or., RUBEN PAYLA & CHERRY PAYLA DUGU-AN, both of legal age, Filipino citizen, married, with residence and postal address at Malaybalay Bukidnon, ESTHER PAYLA MARTE, of legal age, Filipino citizen. Married, with address at kalibo aklan; SONIA PAYLA REYES, legal age, Filipino citizen, married, with address at San Pedro, Pampanga; JAIME PAYLA, of legal age, Filipino citizen, married, with address at Bagong Silangan, Caloocan City; and MELITA PAYLA LUBGOBAN, likewise of legal age, Filipino citizen, married, with address at Davao City all hereinafter referred to as the HEIRS/SELLRS; VICENTA AGBALOG JANGAO, of legal age, Filipino citizen, widow with residence and postal address at Moog, Laguindingan, Misamis Oriental hereinafter referred to as the BUYER/VENDEE; That the above-named parties, are all of legal age, are the legitimate children and sole of heirs of the deceased CALAMERO PAYLA, who died on February 1991 at Moog, Laguindingan, Misamis Oriental; That the said deceased, at the time of his death, left a Parcel of Land situated in Moog, Laguidingan, Misamis Oriental and more particularly A PARCEL OF LAND, known as LOT NO. 12460C14, containing an area of FOUR THOUSAND FIVE HUNDRED EIGHT (4,058) SQUARE METERS, more or less, declared in the HEIRS of CALAMERO PAYLA is the subject of “EXTRA-JUDICIAL SETTLEMENT WITH A DEED OF ABSOLUTE SALE OF PARCEL OF LAND”. Under the Notary Public of EMELITO J. MARQUINO, per Doc. No. 88; Page No. 17; Book No. XIII; Series of 2016. BWM: Sept. 28, Oct. 5 & 12, 2016

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

wednesday|october 12, 2016