BusinessWeek Mindanao (October 17, 2013)

INSIDE LOOK

P1.59-B ready for military vets’ pensions Economy

PAGE 14

Coca-Cola cites higher profit, lower revenues

Agricultural insurance coverage on the rise

Corporate World

Agri-Business

PAGE 15

PAGE 16

BDO may lend $450M to K-Water Banking & Finance

MINDANAO DAILY NEWS SECOND SECTION

www.businessweekmindanao.com

Market Indicators

As of 6:13 pm Oct. 16, 2013 (Wednesday)

FOREX

PHISIX

US$1 = P43.19

6,483.57 points

4 cents

X

40.87 points

X

Briefly Lanzones festival MAMBAJAO, Camiguin -- An array of fresh fruits and vegetables, as well as, good quality gift items and souvenirs at the Agro-Industrial Trade and Tourism Fair (UGMAD) will highlight this year’s Lanzones Festival Grand Opening activities on Sunday, October 20.

The UGMAD 2013 will be joined by 85 exhibitors showcasing various products and services like the One Barangay One Product (OBOP) display, processed food and fast food, tourism services, and some corporate booths.

Other exhibitors from the Cagayan de Oro City and Bukidnon province are also expected to join the festivity.

A grand opening activity and ceremonial ribbon cutting of the UGMAD Fair will kick-off the 34th Lanzones Festival.

For Inquiries: Call or Text : (02) 577-3812

09178445981 Email: care@rejuvginseng.com Website: www.rejuvginseng.com

IN-DEPTH

Page 13

Cepalco gets supply deal with coal plant ERC GIVES THE GREEN LIGHT:

By LOVELY MAE CASENAS Staff Member

T

HE Energ y Regulator y Commission (ERC) has given green lig ht to Cagaya n Electric Power and Light Company Inc.’s (Cepalco) to source power from its sister company’s planned coa l-f i re d power plant.

Banana industry TAGUM City -- A banana industry executive in the Davao Region recently called on local government units (LGUs) to craft policies to protect the banana industry from the adverse effect of pole-vaulting and Panama disease.

Guesting at Tagum Biz Talk at Big 8 last Tuesday, Stephen Antig, executive director of the Philippine Banana Growers and Exporters Assocation (PBGEA) said players of the banana industry need the help of LGUs in implementing measures to curb Panama Disease or fusarium wilt in bananas.

They also need the LGUs in crafting an ordinance criminalizing pole-vaulting cited as illegal practice among banana growers who secretly sell to other buyers their produce under contract of a certain banana exporting company.

“Unless, we can come up with an ordinance, pole-vaulting is a threat to the industry,” Antig told members of the media while explaining that such practice loses quality control of bananas for export market as well due income for the government.

PAGE 22

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Bea Alonzo shares her experience in ‘She’s the One’

ISUZU Cagayan de Oro Dealer principals and Board of Directors with Isuzu Philippines Corp executives Daisuke Inaba, Art Balmadrid, Takashi Tomita, Nobuo Izumina, Francisco Rolida, Dr. Jerome Young and George Ongchua in a toast ceremony during the successful launching of all new Isuzu D-MAX at the Limketkai Atrium this city, evening of October 15. photo by shaun alejandrae uy

Solon wants probe on operation of suspended nickel mining firm

By ROEL CATOTO, MindaNews

SURIGAO City – Surigao del Norte Rep. Guillermo A. Romarate Jr. (2nd District) is calling for a congressional investigation on a Chinese

mining company in Claver town in Surigao del Norte for allegedly operating even while under suspension.

The lawmaker filed House

Resolution No. 361 earlier this month, directing the House Committees on Natura l Resources, Indigenous People and Labor and Employment operation/PAGE 23

Mindanao Daily NEWS

Under t he submitted power supply agreement approved by ERC, Cepalco w i l l get power from its affiliate firm Minergy Coal Cor porat ion’s proposed 110-megawatt coal plant at a rate of P3.56 per kilowatthour for 25 years.

Likewise, the regulatory body approved the construction of two 138-kiloVolt power lines worth P14.55 million that will cepalco/PAGE 23

Aboitiz Power gets P24B loans for power projects ABOITIZ Power Corp.

(APC) subsidiary Therma South Inc. has secured P24 billion in loans from a consortium of banks, the proceeds of which will be used to f inance the construction and operation

of its power generation facilities in Davao.

In a disclosure, APC said its subsidiary signed an omnibus agreement with a consortium of lenderba n k s to obta in loa ns aboitiz/PAGE 23

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Economy

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P1.59-B ready for military vets’ pensions MANILA -- In fulfillment of the Aquino Administration’s commitment to the timely delivery of pension benefits, the Department of Budget and Management (DBM) announced the release of P1.59 billion for the regular pension requirements of military veterans for the months of October to December.

A t o t a l o f 2 0 6 ,15 4 pensioners—whose identities have been certif ied and validated by the Philippine Vetera ns Af fairs Of f ice (PVAO)—will benefit from this latest release charged against the Pension and Gratuity Fund (PGF).

“Aside the P7.94 billion we have released so far this year, this latest release supports the well-being of our military veterans and their families, ensuring that their pensions are well-provided for in the

last quarter of the year. This is in line with the President’s continuing support to our veterans and their families who have demonstrated great bravery and loyalty to the country,” DBM Secretary Florencio “Butch” Abad said.

The Budget chief added t hat t he pensioner l ist submitted by PVAO was compared against the records of Government Servicing Banks/Loan Associations, which ma inta in t he Automated Teller Machine

ING revises end-2013 peso-dollar forecast to 42.8

MANILA -- Deutsche Bank ING sees the peso showing its strength against the dollar as this year ends at 42.8 from the previous projection of 43.5.

ING chief economist for Asia Tim Condon said hot money inflows is partly expected to boost the local currency’s appreciation at the last quarter of 2013.

He said the local currency is expected to benefit from the expected rise of the local bourse. ”We expect the PSEi (Philippine Stock Exchange index) to claw back most of its May-August losses in the fourth quarter,” he said noting that “it’s up a league-leading four percent so far in October.”

The losses in both the local stock market and the peso in the second to third quarter this year was due to the expectations that the Federal Reserve will start scaling back its stimulus program by September this year.

However, t he w idely expected cut did not materialize during the Federal Open Market Committee (FOMC) policy meeting last September after US monetary officials noted that positive economic developments in the US are not enough to scale back the US$ 85 billion monthly bondbuying program.

The developments in the US are the main culprits for the performance of both the local bourse and the peso in recent weeks.

On Monday, the PSEi shed 0.73 percent or 47.10 points to 6,442.700.

This is among the factors for the peso’s performance during the day. However, the local unit remained firm against the greenback after closing at 43.15 from last Friday’s 43.13.

Another factor that fuels the peso’s strength in the last quarter of the year is the inflows from overseas Filipinos vis-àvis the holiday season. (PNA)

(ATM) individual accounts of pensioners as part of the validation and cleansing process.

Out of the 211,913 cleansed list of pensioners as of June 30, 2012, 174,279 matched with names both appearing in the PVAO and bank lists, while 37,634 accounts were classified “doubtful” because of the duplication of names and discrepancies in the account numbers assigned to some names.

T h e r e a f t e r, 31 , 8 7 5 addit iona l pensioners were validated by PVAO as active and valid, making the total number of validated pensioners to 206,154.

“Our dedication to deliver the pension benefits of our pensions/PAGE 21

Filipino veterans benefit from the Aquino administration’s timely delivery of pension to the tune of P1.59 billion. photo courtesy of philippinestodayus . com

UN calls for new policies to adjust to new dynamics in world economy U N I T E D NAT IONS -Countries must adopt new economic policies to adjust to structural changes in the world economy sparked by the onset of the global financial crisis five years ago, according to a new United Nations report.

T he Tr ade a nd Development Report 2013 notes that developed countries have so far addressed the cr isis by i mplement i ng stimulus measures that rely on expansionary monetary policies, but these have been unsuccessful in fostering growth, as they have been combined w it h f isca l austerity and subdued private demands.

I nste ad , t he re por t , which was produced by t he U N C on ference on Trade and Development (UNCTAD), argues that Governments must address

the fundamental causes of t he crisis, in particular rising income inequality, the diminishing role of the States, and the predominant role of the poorly regulated financial sector.

In contrast, developing countries have been able to mitigate the adverse impact of the crisis in the developed world by implement ing counter-cyclical policies, which stimulate the economy when it is facing a downturn.

However, the effects of these policies are fading away and t he economic environment shows few signs of improving, making it increasingly difficult to avoid slowdowns.

The report contends that developing and transition economies t hat heav i ly depend on exports must reconsider their development strategies and rely more

on domestic and regional demand. “ We a r e t r y i n g t o understand this crisis in the long-run, and if it is a structural crisis, as we have seen, then this would mea n a lot in terms of shifting economic policies,” sa id A l f redo Ca lcag no, He a d , M a c r o e c on om i c and Development Branch, Division on Globalization and Development Strategies, UNCTAD, Tuesday in a briefing on the report at UN headquarters.

“One of the main changes in our view is that developing countries must concentrate on fostering their domestic trade in order to continue to grow. This does not mean that exports are no longer important, but they need to strengthen their domestic markets to adapt to new demand conditions.”

Ca lcag no noted t hat developed countries are not addressing the root causes of the financial crises, and t his, compou nded w it h m i sha nd l i ng t he c r i si s itself, has contributed to the current disarray of the global economy.

Since 2008, the world output growth has slowed down and does not show signs of recovering. It fell from 4.1 percent in 2010 to 2.8 percent in 2011 and then to 2.2 percent in 2012. The report predicts that it will further decelerate to 2.1 percent this year.

Developed countries will continue to lag behind the world average, with only a 1 percent increase in gross domestic product (GDP), reflecting the mix of a stable grow t h rate in Japan, a moderate deceleration in the dynamics/PAGE 21

SY DN EY -- Au st ra l ia’s rate of economic growth is expected to slow in early 2014, according to a survey released on Wed nesday by the Westpac Banking Corporation and Melbourne Institute.

The annualized growth r a t e o f t h e We s t p a c / Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, was 3.2 percent in August, down from four percent in July but marginally above its long term trend of 2.9 percent, Westpac said.

The coincident index, which measures current growth, was 2.4 percent, below its long term trend of 2.9 percent.

Westpac chief economist Bill Evans says the Australian economy has experienced a significant loss of momentum

since the start of the year.

“Although the growth rate in the leading index remains slightly above trend, it has slowed abruptly over the last six months,” Evans said in a statement.

“Some mont hs ago the index was pointing to significantly above trend grow th in 2013 but this current slowdown is more consistent with Westpac’s growth forecasts,” he said.

West pac ex pec ts t he Australian economy to grow by 2.5 percent in 2013 and 2.3 percent in 2014.

Evans says Westpac does not expect the Reserve Bank of Australia (RBA) to cut the cash rate at its November board meeting.

“The loss of momentum evident in the today’s Leading Index report suggests the RBA’s 25 basis point rate cut in August was a timely growth/PAGE 21

Survey: Australian economic growth to slow down

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CorporateWorld

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AirAsia Zest confident of Puregold to passenger growth in 2013 break 200-branch target in 2013

DE SPITE a fou r-day suspension last August over safety rule violations, Zest Airways, Inc. still expects to end the year with up to 20% growth in passenger volume, a senior official of the company said over the weekend.

“We expect an increase of 15-20% from our current nu mb er,” A i rA sia Z e st Executive Vice-President Joy D. Caneba told reporters when asked on passenger volume outlook for the year.

“We definitely expect an increase and improvement in passenger traffic.

Zest had a very good brand, but I think with the AirAsia name backing it up… that will give more leverage and comfort for passengers; so we expect growth in traffic both along domestic and international routes.”

The carrier will receive three more aircraft next year that will enable it to fly more routes and increase frequencies, Ms. Caneba said, adding all three aircraft are Airbus A320s.

Zest Air recent ly rebranded as AirAsia Zest to reflect investment of AirAsia, airasia/PAGE 21

H Y PER M A R K ET cha i n Puregold Price Club, Inc. is set to open more stores across the country before the year ends after hitting the 200-store target ahead of schedule, according to its chairman, Lucio Co. At the celebration over the weekend marking yet another milestone in the company with the opening of its 200th store, Co said the supermarket chain will roll out more Puregold branches to breach this mark.

“I’m happy to announce Puregold/PAGE 21

PROPERTY DEVELOPER Ayala Land, Inc. is banking on partnerships to speed up its growth, the company said in a statement on Wednesday.

“Ayala Land… continues to look for par tnership opportunities across the cou nt r y to accelerate expansion amid the continuing robust growth of the Philippine economy that is fueling demand for real estate products,” the company said.

The economy expanded by 7.6% in the first semester from 6.4% a year ago.

Bernard Vincent O. Dy, the firm’s chief operating officer, said joint ventures

will allow Ayala Land to “accelerate its expansion while preserving its capital resources and minimizing development risk.”

“If you look at our history, a lot of ou r ex pa nsion was mostly done through p a r t n e r s h ip s , s t a r t i n g w it h t he Mad riga ls for the development of Ayala Alabang, then with the Yulo family for Nuvali [in Laguna], the Florendos for Abreeza in Davao, and with the Campos group and BCDA (Bases Conversion and Development Authority) for Bonifacio Global City,” Mr. Dy was quoted in the statement as saying.

Ayala Land also teamed up with the Cua family for Circuit Makati; the Lacson family for Ayala North Point in Negros Occidental, and the Pison Group for the Atria project in Iloilo City.

The company said “more partnership agreements [are] currently under negotiation.”

“With partnerships, we are able to optimize use of capital and at the same time reduce risk, allowing us to expand in a quicker way while minimizing the strain on our balance sheet,” the statement quoted Jaime E. Ysmael, Ayala Land’s chief financial officer, as saying. ayala/PAGE 21

Ayala Land scouts for more partners

Coca-Cola’s strong sales of its namesake products offset the effects of global economic pressures and the costs of restructuring bottling operations in Brazil and the Philippines.

Coca-Cola cites higher profit, lower revenues BEVERAGE PRODUCER Coca-Cola Co. $12.34 billion, slightly below reported higher quarterly earnings and lower analysts’ estimates of $12.05 billion. revenue on Tuesday.

Strong sales of its namesake products offset the effects of global economic pressures and the costs of restructuring bottling operations in Brazil and the Philippines.

Net income rose 6% to $2.45 billion -- or 54 cents per share -- in the third quarter from $2.31 billion

-- or 50 cents per share -- a year earlier.

EXPECTATIONS Excluding special items, earnings were 53 cents per share, in line with what analysts expected, according to Thomson Reuters I/B/E/S. The company’s revenue fell 3% to $12.03 billion from

Coca-Cola shares rose 1.1% to $38.33 in premarket trading.

C oke do e s not g ive quarterly forecasts, but the company said its long-term goals and strategies remained unchanged.

It added that it would continue to invest in its brands. -- Reuters

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AgriBusiness

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Agricultural insurance coverage on the rise FA R M I N S U R A N C E coverage nearly doubled in va lue a nnua l ly as of August, according to latest data of the Philippine Crop Insurance Corp. (PCIC), which attributed the surge to increased awareness among farmers of the benefits of such risk cover.

Such coverage increased 81% to P16.128 billion in the eight months to August from P8.910 billion in the same period last year.

The number of farmers availing of such risk cover similarly rose by 83.7% to 410,946 from 223,683 in the same comparative periods.

Of t he tota l i nsu red farmers, 47% or 193,000 were engaged in rice farming, while 5% or 19,196 planted corn.

There were 5,512 insured farmers who were engaged in livestock production, and 3,636 in fisheries.

A t o t a l o f 18 5 , 0 8 6 farmers availed of noncrop agricultural insurance a nd term-insura nce, which i nclude deat h, dismemberment and personal accident coverage.

“Farmers are now more aware of their crops’ damage and they want more security now,” PCIC re se a rcher Renato R. Viado noted in an interview yesterday.

At the same time, PCIC has been pilot-testing indexba sed i nsu ra nce wh ich estimates damage cost on weather factors like wind speed and rainfall levels, said Carmen N. Hutaba, officer-

in-charge of PCIC’s Actuarial Re s e a rch A nd P ro duc t Valuation Department.

Ms. Hutaba sa id t he agency must test the facility in both dry and wet seasons before it can be submitted to the PCIC board for approval.

“We are already in the fifth cycle. After the sixth c ycle, we c a n probably roll it out, depending on the board’s decision,” Ms.

THE share of agriculture exports in total foreign trade declined to 9.67 percent in 2012, from 11.24 percent registered the previous year, the Bureau of Agricultural Statistics (Bas) said in its latest report.

The Bas also said the share of imported food in total foreign trade also went up slightly to 12.41 percent last year.

In the five-year period starting in 2008, the share of farm exports in total trade averaged 8.99 percent, while agriculture imports averaged 12.82 percent.

I n t he world ex por t market, the Bas said the Philippines supplied a bigger volume of coconut products

over the years 2008 to 2011.

In 2011, however, declining shares were recorded in coconut oil at 43.2 percent, copra cake at 57.65 percent and dessicated coconut at 32.91 percent.

“Copra exhibited a low share of less than 1 percent in world exports. The shares of banana and canned pineapple went up to 10.93 percent and 16.63 percent, respectively,” the report read.

Last year the country’s earnings from agricultural exports reached $5.04. This is 7.3 percent lower than the previous year’s record.

The Bas said banana remained as one of the major export commodities of the farm/PAGE 21

THE Bureau of Fisheries and Aquatic Resources (BFAR) is planning to include more fishing areas under its National Stock Assessment Program (NSAP), National Director Asis Perez announced on Monday during the launching of the celebration of the Golden Year of Fish Conservation Week held at the BFAR Central Office in Quezon City.

The NSAP assesses the country’s fishing grounds to provide specific and time-series information on marine capture fisheries for management purposes.

“The NSAP has been instrumental to our previous successes like the implementation of Sardine closed season in the Visayan and Zamboanga waters because it has provided us scientific findings which became the basis of our management plans,” Perez said.

BFAR through its research arm, the National Fisheries Research and Development Institute (NFRDI), is eyeing to include more areas to the 13 bays and gulfs assessed in the program.

At present, only 20 percent of the country’s major fishing areas is under NSAP. BFAR observes Fish Conservation Week every October by virtue of Presidential Proclamation No. 176 and as BFAR/PAGE 21

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

FORTUNATO SALINAS Case No; 2013-10-1737 Applicant/s 2009-10-098

BOHARI D. BANTUAS CASE NO; 2013-10-1743 Applicant/s

JL DIAMOND STAR, INC.-Vendor CASE NO; 2013-10-1722 REMEDIOS C. BACULIO - Vendee 2008-10-180 Applicant/s

FARMERS plant rice in Misamis Oriental this file photo.

Hutaba said, adding that pi lo t-t e s t i n g h a s b e e n focused on Caraga region in eastern Mindanao.

The Internationa l Federation of Red Cross and Red Crescent Societies’ 2012 World Disasters Report tagged the Philippines as the third most disaster-prone country in the world, hit by an average of 20 typhoons a year.

Share of farm exports in foreign BFAR enlarges scope of trade declined in 2012–BAS stock assessment program

FLYING JETSTAR TRUCKING SERVICE, CO. Case No; 2013-10-1744 Applicant/s

NOTICE OF HEARING

APPLICANT request authority for issuance of certificate of public convenience to operate TH FRIEGHT TRUCK service on the line;within Cagayan de Oro City and from said place to any point in Region X accessible to motor vehicle traffic and vice versa with use of Eleven(11) units.

This application will be considered by this Board on October 24, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 16th day of October, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer BWM: Oct. 17, 2013

NOTICE OF HEARING

NOTICE OF HEARING

APPLICANT request authority to extend the validity of Certificate of public convenience to operate PUJ service on the line;Ozamis City to Don Victoriano via Bonifacio –Tangub City and vice versa with the use of one(1)unit/s.

This application will be considered by this Board on October 24, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 14th day of October, 2013.

APPLICANT request authority for issuance of certificate of public convenience of the appropriation of Dropped/Expired Abondoned of certificate of public convenience to operate TAXI service on the line;Within Cagayan de Oro City and from said place to any point in Region X and vice versa with the use of one(1)unit/s.

This application will be considered by this Board on October 24, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 17th day of October, 2013.

APPLICANT request authority for approval of sale and transfer with extension of validity of certificate of public convenience (CPC)to operate TH FRIEGHT TRUCK service on the line;Within Cagayan de Oro City to any point in Region X and vice versa with the use of one (1)unit/s.

This application will be considered by this Board on October 24, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 11th day of October, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MARIANNE C. ULEP Records Officer/Acting Docket Officer BWM: Oct. 17, 2013

BWM: Oct. 17, 2013

NOTICE OF HEARING

BWM: Oct. 17, 2013

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Banking&Finance

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Cap on bank lending BDO may lend $450M to K-Water facility lifted: BSP

By MYRNA VELASCO Contributor

THE BANGKO SENTRAL ng Pilipinas (BSP) will scrap the P20-billion ceiling on its peso rediscount facility next month, in effect allowing banks to borrow more funds to finance short-term liquidity needs.

“The BSP’s peso rediscounting window will turn into an open-volume facility effective Nov. 15 this year, meaning requests of banks to the facility will be granted regardless of amount subject to compliance with pre-determined eligibility requirements,” BSP Governor Amando M. Tetangco, Jr. told reporters via e-mail on Monday night.

In a text message on Monday, BSP Deputy Governor Diwa C. Guinigundo explained that the move will “remove the P20-billion budget that the central bank has set aside for the peso rediscounting facility… for universal and commercial banks.”

The rediscount facility is a refinancing window from which banks borrow money using promissory notes and other loan papers of its borrowers as collateral, according to the central bank.

The central bank announced in August that it is restructuring the peso rediscounting facility to “align it further with the BSP’s market-based monetary operations framework and with international central banking practice of scaling down directed credit operations… as it remains committed to providing the appropriate level of liquidity to the banking system to ensure sustained funding for the country’s growth requirements to the extent that the inflation outlook will allow.”

BSP also said that by next month there will be two separate rediscounting windows. Rediscounting Window I will be for universal and commercial banks, while Rediscounting Window II will be for thrift, cooperative and rural banks.

With the absence of a ceiling, Mr. Guinigundo said the amount banks can borrow from the facility will depend on their capital, assets, management, earnings, liquidity, and sensitivity (CAMELS) rating, which measures a bank’s financial health and ability to pay obligations.

“There is a scoring system based on the banks net worth and compliance with CAMELS rating,” he said. lending/PAGE 21

THE investment lending arm of Banco de Oro is ready to extend loans of up to $450 million to Korea Water Resources Corporation (K-Water) if it finally takes serious steps in closing the privatization transaction for the 218-megawatt Angat hydropower facility.

In an interview on the sidelines of the on-going 22nd World Energy Congress (WEC) here, BDO Capital & Investment Corporation p r e s i d e n t E d u a r d o V. Francisco said “we can lend to K-Water $450 million for its Angat acquisition if it can meet the closing conditions.”

The terms of the transaction closing is being hammered out with assetseller Power Sector Assets and Liabilities Management Corporation (PSALM) and ot her relevant agencies, such as the Department of Finance and the host local government unit for the outstanding real property tax (RPT) burden of more than P300 million.

Francisco said BDO can extend the loan on its own or with “syndicate of banks”, depending on what will be decided on eventually by K-Water. The winning bid for the Angat facility is $440.88 million.

He stressed that they

are g iv ing va lue to t he creditworthiness of K-Water’s parent firm when it comes to risks relating to the asset acquisition.

“It’s not project financing, it’s an acquisition so we can lean on K-Water’s parent firm, it is state-owned firm in Korea so that provides us some level of comfort,” the bank executive added.

BDO is a lso look ing at joi n i ng a por tended combination of local and foreign borrowings given the credit facility of Korea E x p or t-I mp or t B a n k

(K-E x i m) t hat K-Water can tap into for the Angat transaction.

Based on an emotionallycharged discussion with PSA LM last Sat u rday (O c tob er 12), K-Water reportedly stood pat with its decision “not to close the Angat deal by December.”

Mov ing for wa rd, t he timeframe it has been looking at is “maybe next year”; but that is not giving Philippine government any certainty that the deal will wind up successfully.

It was gathered from

sources that K-Water has been “encountering closing difficulties because of the range of concerns it has to deal with for Angat”; such as market lack for its capacity, residual tax obligations and considering also that it will be taking over an extremely deteriorated asset.

PSALM is purportedly puzzled with the pronouncement of K-Water Angat team head Taek-won Seo on deferred closing given that he earlier committed remittance of payment as BDO/PAGE 21

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

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

The

CAGAYANTIMES

The 2nd National Bouldering Series held at Centrio Ayala Mall, October 11 - 13, 2013. The competition had open and novice categories, competitors from all over the country came and competed for the title; through SCAPI (Sport Climbing Association of the Philippines), YKK and Habagat Outdoor Equipment, Cagayan de Oro was able to witness the close-fight technical competition. Photo by GLENN PALACIO

de Oro

FEATURE

thursday | October 17, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

RAISING THE CUP OF GOOD GOVERNANCE THROUGH NUTRITION. Provincial Governor Yevgeny “Bambi” Beja Emano and the members of the Provincial Nutrition Committee (PNC) - Misamis Oriental raise the cup, each bearing one of the 10 Nutritional Guidelines for Filipinos set by the National Nutrition Council. Misamis Oriental is also awarded the 2012 Regional Provincial Green Banner Award in a short ceremony held at the conference room of the Office of the Governor, Provincial Capitol, Cagayan de Oro City.

Photos by Shaun Alejandrae Yap Uy

thursday | October 17, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

The

CAGAYANTIMES de Oro

FEATURE

Mindanao Daily 19 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

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

The Night Stalker: Oktoberfest Redux at Seda Centrio (Saturday, October 19)

A

fter the success of its first staging during the first weekend of October last 4 and 5, Seda Centrio is bringing back Okotoberfest on 19th October (Saturday)!

Celebrate Oktoberfest, Germany’s greatest cultural festival with the same price, same fun and free flowing Beer and a combination of native and German Food! At only Php 650.00 per person, one person comes in free for every group of 10 guests!

Experience traditional Bavarian dishes and local delicacies and free flowing beer with live music and the ambiance of traditional Bavarian costumes by the staff!

Buy your tickets now at Seda Centrio!

Oktoberfest at Seda Centrio’s Misto poolside starts from 6PM to sawa!

Students of the Misamis Oriental State College of Agriculture and Technology (MOSCAT) now enjoys the benefits of the laboratory for Job-Enabling Proficiency Program (JEEP).

This state-of-the-art air-conditioned laboratory, equipped with 41 computer units with headsets and a server, which serves as a venue for JEEP classes is obtained through the college’s tie-up with the United States Agency for International Development (USAID) through its Growth with Equity in Mindanao (GEM) Program. The offering of JEEP courses aims at improving the employability of graduates of Colleges and Universities in Mindanao by expanding and enhancing the English language training capabilities of colleges participating in the project. Photo by Shaun Alejandrae Yap Uy

Check this column for weekly updates of Seda Centrio Events.

(above photo) The Misamis Oriental State College of Agriculture and Technology (MOSCAT) - Mushroom Spawn Production Laborator y produces high qualit y mushroom ready for consumption and ready to be sold to the market.

Photo by Shaun alejandrae yap uy

(right photo) A laboratory staff of the Misamis Oriental State College of Agriculture and Technology (MOSCAT) Mushroom Spawn Production Laboratory demonstrates how the first process of the mushroom spawning begins by taking “seeds”, inside a sterile room, from the mushrooms is then planted on a bag filled with saw dust and is then sterilized and after about 25 days the mushroom spawns.

Photo by Glenn PALACIO

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

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

Environment

thursday | October 17, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Surigao solon wants probe on operation of suspended nickel mining company SURIGAO CITY – Surigao del Norte Rep. Guillermo A. Romarate Jr. (2nd District) is calling for a congressional investigation on a Chinese mining company in Claver town in Surigao del Norte for allegedly operating even while under suspension.

The lawmaker filed House Resolution No. 361 earlier this month, directing the House Committees on Natura l Resources, Indigenous People and Labor and Employment to investigate the reported continued operations of Shenzhou Mining Group C o r p o r a t i o n (S M G C ) despite its suspension due to violations of mining and environmental laws.

Romarate noted t hat the Mines and Geosciences Bureau (MGB) suspended SMGC last Ju ly 18 due to the company’s failure to address t he issue on excessive siltation in the shoreline, which connects the boundaries of the two Surigao provinces.

The siltation allegedly worsened w it h SMGC ’s construction of a settling pond right on seashore.

But SMGC corporate secretary Jacqueline Mel de Leon has denied the c o n g r e s s m a n ’s c l a i m , telling the court that their

company has not conducted any mining operation. “The corporation is conducting rehabilitation; that there’s no truth to the allegation of petitioner that the company c ondu c t e d c l a nd e s t i ne operation,” she said.

According to Romarate, Surigao del Sur Rep. Philip A. Pichay and other Caraga congressmen have signified their intention to become co-authors of the resolution.

T he law ma ker c ited t he compla i nt s aga i nst the mining company over its alleged non-payment of nat iona l a nd loca l taxes and royalties to the Mamanwa community, the lumads recognized by the National Commission on the Indigenous Peoples (NCIP) as claimant of the mining concession.

Romarate’s proposed resolution also noted several complaints by employees who accused SMGC of failing to pay salaries and employment benefits.

“It is clea r t hat t his mining company violated not only environmental laws but likewise appropriate tax and labor laws and the IPRA (Indigenous Peoples Rights Act). The charges against [SMGC] are piling up and yet it keeps on skirting them,” Romarate said. “Its directors should be made to explain and Congress should conduct an ocular inspection as soon as possible.”

The lawmaker urged the appropriate committees to act, in the form of legislation, on t he a f fe c t e d a re a s , indigenous people, mining workers and employees and tax collecting agencies of the government.

“I persona l ly f i led t his resolut ion heed ing the strong clamor of my constituents. At its worst, the irregularities cited by the MGB strongly suggest that an environmental disaster is looming. The MGB and the courts have spoken and directed Shenzou Mining not just to suspend operations but to vacate its mining premises as well,” he told reporters.

“From all reports, [SGMC] appea rs to be v iolat ing the orders by being able mining/PAGE 23

Road damaged after the 7.2 magnitude earthquake in bohol.

photo from newsinfo . inquirer . net

OCENR: Zambo’s century, heritage trees are protected Z A M B OA N G A C I T Y – The Office of the City Environment and Natural R e s o u rc e s (O C E N R) announced that this city’s century and heritage trees are well taken care of and protected.

O CE N R ch ief E ng r.

Reynaldo Gonzales issued the statement to erase doubts that the century and heritage trees are unattended after strong winds and heavy rains uprooted last week a centuryold acacia tree.

FOR IMMEDIATE HIRING: ACCOUNTING ASSISTANT QUALIFICATIONS: 1. A Certified Public Accountant (CPA) 2. Male or Female 3. Not more than 30 years old 4. COMPUTER LITERATE 5. FLUENT IN WRITTEN AND ORAL COMMUNICATION 6. FLEXIBLE AND HARDWORKING 7. With at least 1 year job experience in accounting or auditing works 8. STRONG ORGANIZATION SKILLS 9. ABILITY TO WORK INDEPENDENTLY AND UNDER PRESSURE 10.

MULTI-TASKER

ACCOUNTING CLERK QUALIFICATIONS: 1. Graduate of a Commerce Degree (Preferably Accounting Major) 2. Male or Female 3. Not more than 30 years old 4. COMPUTER LITERATE 5. FLUENT IN WRITTEN AND ORAL COMMUNICATION 6. FLEXIBLE AND HARDWORKING 7. EXPERIENCE IS AN ADVANTAGE BUT NOT REQUIRED 8. STRONG ORGANIZATION SKILLS 9. ABILITY TO WORK INDEPENDENTLY AND UNDER PRESSURE 10. MULTI-TASKER

HEAVY DUTY TRUCK MECHANIC QUALIFICATIONS: 1. MALE 2. At least HIGH SCHOOL graduate 3. Preferred Certified TESDA NC2

“There is a committee on the maintenance of trees and tree surgery. We are working together with the DENR (Department of Environment and Natural Resources),” Gonzales clarified.

“The trees are also being balanced by trimming the branches so it will not lose stability,” he added.

He explained that one of the century-old acacia trees was uprooted last week by strong winds as continuous rain had softened the soil

where the tree stands.

T he uprooted acacia tree damaged the perimeter fences of the Philippine Red Cross (PRC)-Zamboanga City chapter office in Pettit Barracks area along Rizal Street, this city.

T he decla rat ion a nd t ag g i ng of t he cent u r y and heritage trees by the city government is in line with City Ordinance No. 341 otherwise known as the Century and Heritage protected/PAGE 23

BOLLOZOS TRUCKING CORPORATION

BTC Since 1966

Since 1 9 6 6

Bongbongon Kauswagan Cagayan de Oro City

4. AT LEAST 5 YEARS EXPERIENCE AS MECHANIC on IH, Japanese, European trucks 5. KNOWS HOW TO DRIVE 6. Not more than 40 years old 7. FLEXIBLE AND HARDWORKING 8. Willing to work extended time 9. MULTI-TASKER 10. STRONG ORGANIZATION SKILLS 11. ABILITY TO WORK UNDER PRESSURE

not more than 40 years old 8. Good physical condition 9. Good interpersonal skills 10. Willing to work extended time 11. FLEXIBLE AND HARDWORKING 12. Willing to be assigned anywhere in Mindanao 13. With good moral character

LIGHT DUTY WELDER

QUALIFICATIONS: 1. College graduate 2. Male or Female 3. Minimum age 23 years old but not more than 30 years old 4. COMPUTER LITERATE 5. Willing to work extended time 6. FLUENT IN WRITTEN AND ORAL COMMUNICATION 7. FLEXIBLE AND HARDWORKING 8. Good interpersonal skills 9. Willing to be assigned anywhere in Mindanao 10. EXPERIENCE IS AN ADVANTAGE BUT NOT REQUIRED 11. STRONG ORGANIZATION SKILLS 12. ABILITY TO WORK INDEPENDENTLY AND UNDER PRESSURE 13. MULTI-TASKER

QUALIFICATIONS: 1. MALE 2. At least High School Graduate 3. Preferred Certified TESDA NC1 4. AT LEAST 2 YEARS EXPERIENCE as light duty welder 5. Not more than 40 years old 6. FLEXIBLE AND HARDWORKING 7. Willing to work extended time 8. MULTI-TASKER 9. STRONG ORGANIZATION SKILLS 10. ABILITY TO WORK UNDER PRESSURE

TANK TRUCK DRIVER QUALIFICATIONS: 1. MALE 2. At least High School Graduate 3. Valid Driver license with 1238 restriction 4. Driving Experience: a. Minimum of 2 years’ experience for HGV plus 2 years’ experience of articulated HGV. b. More than 2 years experience of articulated HGV 5. Good Driving history 6. Possess basic knowledge of vehicle maintenance 7. Minimum age 25 years old but

ROAD TRANSPORT DISPATCHER

SUBMIT YOUR RESUME AND APPLICATION TO:

THE GENERAL MANAGER BOLLOZOS TRUCKING CORP. CAGAYAN DE ORO CITY Email: lordilie.enjambre@gmail.com DEADLINE OF SUBMISSION IS ON:

10 OCTOBER 2013

Mindanao Daily 21 NEWS

thursday | October 17, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Pensions...

AirAsia...

veterans in a timely fashion goes hand in hand with our commitment to ensure that public funds are wellaccounted for. Through our evaluation and validation process and the subsequent enrollment of all eligible pensioners to ATM accounts, we have successfully cleansed our beneficiary list of invalid, duplicate and ghost entries.

In addition, the implementation of electronic payments in the delivery of pensions has ensured the timely and transparent release of benefits straight to our pensioners’ individual accounts,” Abad added.

(PNA)

Inc. which took 49% of the former. The balance is held by a holding firm controlled by for mer A mba ssador Alfredo M. Yao. AirAsia said last week, however, that it has informed Congress of its intention to take a controlling stake in the local carrier, which has a legislative franchise.

from page 14

Dynamics... from page 14

Un ite d St ate s , a nd a further contraction in the European Union (EU) area.

The increased tendency towa rds f isca l austerit y in the EU makes it highly u n l i kely to re t u r n to a higher growth trajectory.

I n t he U. S ., pr i v at e domestic demand has begun to recover but cuts i n publ ic sp end i ng a re having a “contractionary” effect.

In contrast, the Japanese Government is providing both strong fiscal stimulus and monetary expansion aimed at reviving economic grow t h and curbing def lationary trends.

The report also warns that the financial crisis has virtua lly stopped globa l trade expansion, with its volume increasing less than 2 percent in 2012 and the first months of 2013.

“This general downward t r e n d i n i nt e r n a t i o n a l trade highlights t he vulnerabilities developing countries continue to face at a t i me of l a c k lu s t er g row t h in developed countries,” the report says, and advocates for increased S out h- S out h t r ade a nd cooperation, which at the moment is concentrated mainly in Asia.

For the world economy as a whole, the re p or t u nd e rl i ne s t h at coord inated, dema nddriven policies, w it h no cou nt r y adopt ing austerity policies, would deliver bet ter resu lts in terms of growth, income distribution, employment, and globa l re-ba lancing than current policies that place t he ent ire bu rden of adjustment on def icit countries. (PNA/APP)

Growth... from page 14

‘shot in the arm’ for growth,” Evans said.

“However, we expect f u r t her b o os t s w i l l b e required to support momentum through the difficult transition from mining to non- mining led growth.”

The RBA last reduced the cash rate in August by 25 basis points to a record low of 2.5 percent. (PNA/Xinhua)

from page 15

Puregold... from page 15

that more stores will open past that mark before the end of the year. I believe we have set a new record—the most number of stores in a supermarket format,” Co told the audience that included investors, trade partners, and employees.

On top of the 25-store goal Puregold has set to achieve yearly until 2015, Co said the company was also setting its eyes on more mergers and acquisitions to boost its supermarket network nationwide.

“With our capital and a mbit ion, t he potent ia l to expand and share the Puregold experience with m ore Fi l ipi no s i n t h e country is promising,” Co said. “Puregold is far from finished yet.

According to Leonardo Dayao, Puregold president, the company has recently opened t h ree stores i n Pangasinan, two in Zambales, three in Davao and one in Bacolod City.

“At yearend 2013, our store count shall be over 200,” Dayao said, as the site identification and acquisition groups were set to acquire more locations.

At the same time, Co credited his 40,000-strong work force, over 3,500 trade partners and millions of loyal customers for propelling Puregold to success.

He recalled that when Puregold went public in 2011 amid the unfavorable capital market conditions, the share price was at P12.50 and went down to P10.68 after the bell rang. As of October 11, he said, share price advanced to P47.50 or an increase of 400 percent.

“I am humbled by the public trust and confidence.

I never could imagine that this would happen,” Co said.

“To our investors, I said then and I say it now: your money is safe with us.”

Ayala... from page 15

Ayala Land previously partnered with the Store Specia l ists, Inc. for its department store venture, and another deal with the Tantoco family to bring in Family Mart convenience stores from Japan.

In the second quarter, the company signed a deal with Puregold Price Club, Inc. for the establishment of supermarkets.

It also entered the health care business through a joint venture with the Mercado Group, which owns Mercado General Hospital, Inc.

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

“More partnerships will soon come out of the pipeline as Ayala Land expects demand for real estate products to continue growing on the back of the rapid growth of the Philippine economy,” the statement read.

Ayala Land ended the first half with a net income of P6.62 billion, up 23.28% from P5.37 billion earned in the same six months last year.

The same comparative periods saw revenues rising 35.67% to P36.63 billion from P27.0 billion and cost and expenses increasing by 39.00% to P27.51 billion from P19.79 billion.

Shares of Ayala Land shed 10 centavos or 0.33% to close P29.90 apiece on Monday from P30.00 each on Friday last week.

Farm...

awareness on the need to conserve and protect fisheries and aquatic resources.

T h i s y e a r ’s t h e m e “Pangisdaang pinagyaman ngayon; henerasyong sagana sa panghabang panahon,” centers on ensuring the present resou rces for a sustainable harvest in the future.

“The celebration brings to the fore the hope in protecting the nation’s fisheries and aquatic resources. BFAR, in its 50 years of observance, has been successful at achieving pro-active results in the development, management and conser vation of the f isheries and aquatic resources that munificently abound in the country,” according to Director Perez.

(PNA)

Lending... from page 17

from page 16

Philippines. The volume of banana exports pegged at 2.65 million metric tons (MMT) was higher by 28.7 percent compared to shipments the previous year.

The Phi lippines a lso shipped out 390,000 metric tons (MT) of fresh pineapple valued at $99.67 million last year.

The Bas said fresh-mango exports declined to 18,440 MT or by 12.8 percent.

Receipts from the shipments of mango dropped by 8.9 percent to $15.24 million and contributed 0.3 percent, to the total value of farm exports.

Meanwhile, the Bas said the total expenditures for agricultural imports in 2012 increased to $8.7 billion, or by 4.2 percent from the 2011 level.

“The volume of corn imports at 136,575 MT was valued at $88.52 million. This recorded a gain in volume by 106.3 percent and value by 84.3 percent,” the report read.

Loan rates for universal and commercial banks are pegged at BSP’s lending rate of 5.5%, while that for thrift, rural and cooperative banks is set at BSP’s 3.5% borrowing r ate. A s of S eptember, banks had availed of P17.32 billion in loans from BSP’s rediscount facility, lower than the P32.761 billion recorded in the same period last year.

BDO... from page 17

mandated by Republic Act 8550 or the Fisheries Code of the Philippines to promote

early as October 26 this year – way ahead of the December 2013 self-imposed deadline they sounded off to media during the issuance of their certificate of effectivity last September.

Amid the latest twist on the Angat transaction, the legal team of PSALM is reportedly reviewing the provisions of the Asset Purchase Agreement (APA) to establish if it has legal recourse to terminate the deal with K-Water prior to the 270-day timeline leading to closing date.

The legal documents have to be prepared in one month and will be presented to PSALM president Emmanuel R. Ledesma Jr.; and possibly the company’s board for evaluation and hoped-for approval.

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

BFAR... from page 16

EDMAR MARKETING EDWARD A. MATILOS Applicant/s

CASE NO; 2013-10-1739

NOTICE OF HEARING

APPLICANT request authority For issuance of certificate of public convenience to operate TH FRIEGHT TRUCK service on the line;Within Cagayan de Oro City and from said place to any point in Region X and vice versa with the use of TWO (2)unit/s.

This application will be considered by this Board on October 24, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 16th day of October, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer BWM: Oct. 17, 2013

www.johndprovoice.com

JANET A. SANTOS Applicant/s

CASE NO; 2013-10-1741 2008-10-1878

NOTICE OF HEARING

APPLICANT request authority for extension of validity of certificate of public convenience (CPC)to operate TAXI service on the line ;Cagayan de Oro City to any point in Region X accessible to motor vehicle and vice versa with the use of one (1)unit/s.

This application will be considered by this Board on October 24, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 14th day of October, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer BWM: Oct. 17, 2013

DATS TECHNICAL UNLI PROMO From September-October 2013 (TUITION ONLY)

15% DISCOUNT will be given if you enroll two or three of any of the above courses, or if you bring a friend and both of you enrolled, both of you will be given 15% DISCOUNT. The offer is applicable to cash term payment only. For installment term payment, it will be 5% DISCOUNT only.

20% DISCOUNT will be given to those who will enroll and pay 2 months before the course date.

10% DISCOUNT will be given to those who will enroll and pay 1 month before the course date.

GROUP DISCOUNT PROMO (CASH TERM ONLY): 1. 15% OFF, if you refer 1 friend for the same course 2. 20% OFF, if you refer 2 friends for the same course 3. 40% OFF,if you refer 3 friends for the same course 4. 50% OFF, if you refer 4 friends for the same course 5. YOUR TRAINING TUITION IS FREE, if you bring 5 friends for the same course.

GROUP DISCOUNT PROMO (FOR INSTALLMENT TERM): 1.) 7% OFF, if you refer 1 friend for the same course 2.) 10% OFF, if you refer 2 friends for the same course 3.) 20% OFF, if you refer 3 friends for the same course 4.) 25% OFF, if you refer 4 friends for the same course 5.) 50% OFF, if you bring 5 friends for the same course

MAIN BRANCH: Lapasan Highway (Near Overpass), CDeO ANNEX: CM Recto Avenue (in front of Nazareno Church), CDeO 09177078089/85 . 12345/8567053

Pryce Plaza Hotel Carmen Hill, CDO, Tel. No.722791 to93/858-4537 E-mail:reservations@pryceplaza.ph

---------------------------------

CHANANTHON BED & BREAKFAST CM Recto Avenue, Cagayan de Oro City Tel. #: 856-81-89 / 309-3095 / 231-2103 Email ad : chananthonbb@yahoo.com Room @ P800.00

COMMERCIAL SPACE FOR RENT

CONTACT PERSON: RAYLYN LANTACA

---------------------------------

NEW DAWN PENSIONNE Velez-Macahambus Sts, CDO Tel Nos. 8571776, 721776 email : gchreservation@yahoo.com

Fun Page

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

Editor : Clifford Santillan, E-mail: santillan.clifford@yahoo.com

thursday | October 17, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Bea Alonzo shares her experience working with her two leading men in ‘She’s the One’ Bea Alonzo admitted she initially had hesitations if her pairing with Enrique Gil would work out in She’s the One. Nonetheless, she placed her full trust in the whole team of the movie so she was assured that it would all turn out great. “’Yung kinukwento sa akin ni Vanessa (Valdez, one of the writers of the movie) ‘to nong nag story conference, ‘Bakit si Enrique, bakit ang bata?’ Sa totoong buhay I can’t imagine myself falling in love with a younger man as young as Enrique, sabi ko, ‘Magwo-work ba ‘to? Baka naman laitin ako sa internet, di ba? Pero sabi niya, in-assure niya ako, ‘Promise mai-in love ka sa story.’ Of course malaki ang tiwala ko sa kanilang lahat,” she said.

The actress relayed that through the film, she was able to realize why some women fall in love with younger men.

“While I was doing the movie, na i-share ko sa kanilang lahat na, ‘Direk oh tama ka na kaya pala may mga babaeng naiin-love sa younger men kasi nakikita nila ‘yung mga nawala nilang pagkakataon to have fun.” She said that she enjoyed working with Enrique for the actor reminds her of her youth. “I had fun working with Quen (Enrique) kasi

clifford’s

Daily HOROSCOPE AQUARIUS (January 20 – February 18) - Your bank statement might not tell you the whole picture, so try to spend as conservatively as you can today.

It’s just way too easy for you to blow past your limits, and nobody wants that!

PISCES (February 19 – March 20) - You are focusing on yourself today -- or you should be!

Someone close is in awe of your confidence, and you should make sure that they see the positive side of their own circumstances, as well.

ARIES (March 21 – April 19) - This is not a good time to take on new plans or projects -- even a first date should be rescheduled, if possible!

You just need to focus on the past, and that’s not conducive to novelty.

TAURUS (April 20 – May 20) - You may not feel like leaning on others’ shoulders, but you’ve got to make sure that you’re telling your problems to at least one close friend or coworker. It’s a good day to get the help you need!

GEMINI (May 21 – June 21) - You may misunderstand something that seems like a big deal, but turns out to be more of a tempest in a teapot.

Try to be skeptical of your urge to panic -- things are not as bad as they may seem.

CANCER (June 22 – July 22) - Your mind may wander more easily than usual -- so slurp down another cup of coffee or do whatever else you must to stay focused. Of course, if it’s an easy day, you can just let things slide.

alam mo ‘yung nababalik niya ‘yung energy, ay ang saya palang maging bata uli and habang ginagawa ko ‘yung pelikula parang nagiging bata ‘yung nagiging feeling ko rin, parang to explain also na mga babae na who falls in love with younger men, while I was doing the movie naiintidihan ko na sila.”

On working with her other leading man, Dingdong Dantes, Bea remarked that it was “refreshing” to star with the actor. She was a bit skeptical as well if there would be chemistry between the two of them in the beginning being it’s their first time to be working together. “’Yung una ang concern ko nong tinanggap ko ang project na ‘to ‘yung characters kasi mag best friends for 10 years sabi ko ‘yun yung pagiging maging mag best friends, hindi mo siya mafa-fake eh, hindi mo nafa-fake ‘yung chemistry o pagiging komportable niyo sa isa’t isa, sabi ko sana he’s open as much as possible para hindi ako mahirapan na to hold him or kahit just because I feel like holding him sa movie, alam mo ‘yun, so sana maging open siya.”

Dingdong was such a professional that it became easy for Bea to execute her role as a best friend to the actor’s

Mindanao Daily News’

-MovieWatch-

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-- helo to all~ please greet my beloved wife jonalyn,andmyonlydaughterBless.thankyou!

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-- hello, just wanna greet my friends, my family spcialy myself.. happy trip dudee im chie

CIRCLE A WORD cutting edge

arrow barb battle-axe blade bodkin bolt borer claw cleaver clippers

cutlass dagger dirk drill gimlet harpoon horns incisor knife lance

machete molar needle parang pick pike pliers point prong rapier

razor sabre scalpel scimitar scissors scythe secateurs shaft shears

character. “Alam mo totoo naman na open siya, he was very professional and he knows what he’s doing, alam mo ‘yung I’m not worried na uncomfortable kung hahawakan ko siya or if I can talk to him in a certain way kahit na siguro ‘yung mga birong ‘yun biro ko kay John Lloyd (Cruz), nabibiro ko na rin sa kanya, so ‘yun I’m very, very happy na parang pakiramdam ko nag-work naman and I am very happy na to have work with someone like him,” she said. push.abs-cbn.com

sickle skewer snips spur stiletto sword talon teeth tine

Academy Award winner Rober t Redford stars in All Is Lost, an openwater thriller about one man’s battle for survival against the elements after his sailboat is destroyed at sea.

Deep into a solo voyage in the Indian Ocean, an unnamed man (Robert Redford) wakes up to find his 39-foot yacht taking on water after a collision with a shipping container left floating on the high seas. With his navigation equipment and radio disabled, the man sails unknowingly into the path of a violent storm.

Despite his success in patching the breached hull, his mariner’s intuition and a strength that belies his age, the man barely survives the tempest.

Using only a sextant and nautical maps to chart his progress, he is forced to rely on ocean currents to carry him into a shipping lane in hopes of hailing a passing vessel.

But with the sun unrelenting, sharks circling and his meager supplies dwindling, the ever- resourceful sailor soon finds himself staring his mortality in the face.

ALL IS LOST release date : october

18, 2013

SUDOKU How to play the game?

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

of the same digit.

Yesterday’s Answer

LEO (July 23 – August 22) - It’s a really good day to trust your instincts -- but don’t forget to dig up all the facts as well! You may not be on top of your game, but your brain is still a vital asset to you.

VIRGO (August 23 – September 22) - Your strongest relationships need attention -- so give them your all! You may not like spending as much time with folks as you must, but things should work out for the best if you do.

LIBRA (September 23 – October 22) - You’ve got too much going on today -- it may seem as if you’re juggling one ball too many! Just take a deep breath and press on, or try to get a friend to help you lighten your load.

SCORPIO (October 23 – November 21) - Your creative juices are flowing -- so make sure that you’re putting them to work! It’s a good day for you to wrap up your old projects and get a head start on the next chapter in your life.

SAGITTARIUS (November 22 – December 21) This isn’t a great time to launch new projects or try to generate momentum -- you’re slowed down by a thousand tiny obligations. Take care of as many of them as you can, and things may speed up tomorrow.

CAPRICORN (December 22 – January 19) - Get the jump on the competition by trying unexpected strategies. You aren’t as predictable as they think you are, so a quick move can yield you some pretty amazing results. Believe in yourself!

Amazing Facts!

Did you KNOW?? ..

Some people believe that birds choose their mates on the 14th of February each year. Seeing a goldfinch meant you would marry a millionaire. Seeing a sparrow meant you would marry a poor man but you would be very happy.

CROSSWORD puzzle

across 36. Dual 1. Raise to the third power 37. My One and _ 5. Wound mark 38. Woodwind instru 9. Board member ment 11. Actor Guinness DOWN 13. Assert without proof 1. Prison room 14. The Leaning Tower of_ 2. Hideous 15. Cunning 3. Winged insect 16. Writing fluid 4. Motorman 18. Diving seabird 6. Head covering 19. Interweave 7. Nueva Ecija town 21. North or South 8. Beneficial effect 23. Clean and orderly 9. Adventurous 24. Put under water 10. Collapsible shelter 27. To a_; exactly 12. Baked food 28. Boots Anson_ 17. Australian marsu 29. Kiss pial 31. CAR province 19. Large tree 33. Amusement center 20. Born 35. Incandescence 21. American Indian

village 22. King of the fairies 24. Male deer 25. Open way 26. Fencing sword 29. Camarines Norte town 30. Inactive 32. Piercing tool 34. Apprentice

Yesterday’s Answer

Mindanao Daily 23 NEWS

thursday | October 17, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Cepalco... from page 13

connect Minergy’s proposed coa l pla nt to Cepa lco’s distribution system.

T he pla nt w i l l be e s t a b l i s h e d i n B r g y.

Mandangoa, Balingasag, Misamis Oriental, about 50 kilometers from Cagayan de Oro City.

Minergy is fully owned

by Minergy Systems Inc., which in turn is 77.87 percent controlled by Cepalco.

Minergy aims to begin construction of the plant within Cepalco’s franchise area by the latter half of the year or in the first quarter of 2014. The facility is scheduled for commissioning in 2017.

Minergy required the ERC’s approval of its supply contract with Cepalco to secure financial closing with lenders for the P420 million power plant.

Minergy intends to tap bank loans for 70 percent of the project cost, and to raise its own money for the remaining 30 percent.

Mindanao is suffering from insuff icient power supply due to inadequate generation. This is expected to ease by 2015 when a number of coal plants are scheduled to come on line.

B y 2 0 17, h o w e v e r, Mindanao would again need additional capacity to address a possible supply deficit based on projections made by the Department of Energy.

Operation... from page 13

to investigate the reported continued operations of Shenzhou Mining Group C o r p o r a t i o n (S M G C ) despite its suspension due to violations of mining and environmental laws.

Romarate noted t hat the Mines and Geosciences Bureau (MGB) suspended SMGC last July 18 due to the company’s failure to address the issue on excessive siltation in t he shoreline, which connects the boundaries of the two Surigao provinces.

The siltation allegedly worsened w it h SMGC ’s construction of a settling pond right on seashore.

But SMGC corporate secretary Jacqueline Mel de Leon has denied the congressman’s claim, telling the court that their company has not conducted any mining operation. “The corporation is conducting rehabilitation; that there’s no truth to the allegation of petitioner that t he company conducted clandestine operation,” she said.

According to Romarate, Surigao del Sur Rep. Philip A. Pichay and other Caraga congressmen have signified their intention to become co-authors of the resolution.

The lawmaker cited the complaints against the mining company over its alleged nonpayment of national and local taxes and royalties to the Mamanwa community, the lumads recognized by the National Commission on the Indigenous Peoples (NCIP) as claimant of the

mining concession.

Roma rate’s proposed resolution also noted several complaints by employees who accused SMGC of failing to pay salaries and employment benefits.

“It is clea r t hat t his mining company violated not only environmental laws but likewise appropriate tax and labor laws and the IPRA (Indigenous Peoples Rights Act). The charges against [SMGC] are piling up and yet it keeps on skirting them,” Romarate said. “Its directors should be made to explain and Congress should conduct an ocular inspection as soon as possible.”

The lawmaker urged the appropriate committees to act, in the form of legislation, on t he a f fe c te d a re a s , indigenous people, mining workers and employees and tax collecting agencies of the government.

“I persona l ly f i led t his resolut ion heeding the strong clamor of my constituents. At its worst, the irregularities cited by the MGB strongly suggest that an environmental disaster is looming. The MGB and the courts have spoken and directed Shenzou Mining not just to suspend operations but to vacate its mining premises as well,” he told reporters.

“From all reports, [SGMC] appears to be violating the orders by being able to still ship ore abroad. Did it continue to pay its obligations and liabilities for taxes and duties, for IP royalties and for salaries and wages? Questions beg to be answered,” he added.

Last July 15, Judge Rufo Naragas, of the Regional Trial Court Branch 41 in Cantilan, Surigao del Sur, ordered SMGC to vacate its mining area. SMGC is the operator of the Claver Mineral Development Corporation (CMDC), which owns 433 hectares in the boundaries of Claver in Surigao del Norte and Carrascal in Surigao del Sur. But SMGC’s De Leon said that her firm is mindful of the suspension order.

She admitted, though, that they have shipped out ore, but claimed that the MGB, in its March 25 order, has allowed them to clear out the area of the stockpiles as part of the rehabilitation program.

She said they shipped out 200,000 metric tons of ore “with export permits for the purpose.”

Aboitiz... from page 13

accommodations.

Banco De Oro Capital & Investment Corp. acted a s i s s u e m a n a ge r a nd lead arranger, while BDO Unibank, Inc.-Trust and Invest ments Group was appointed as trustee and facility agent.

Therma South aims to complete its 150-megawatt circulating f luidized-bed coal-fired electric power generation facilities located at Davao City and Davao del Sur by first half of 2015.

(PNA)

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

Mining... from page 20

to still ship ore abroad.

Did it continue to pay its obligations and liabilities for taxes and duties, for IP royalties and for salaries and wages? Questions beg to be answered,” he added.

Last July 15, Judge Rufo Naragas, of the Regional Trial Court Branch 41 in Cantilan, Surigao del Sur, ordered SMGC to vacate its mining area. SMGC is the operator of t he C l aver M i ner a l Development Corporation (CMDC), which owns 433 hectares in the boundaries of Claver in Surigao del Norte and Carrascal in Surigao del Sur. But SMGC’s De Leon said that her firm is mindful of the suspension order.

She admitted, though, that they have shipped out ore, but claimed that the MGB, in its March 25 order, has allowed them to clear out the area of the stockpiles as part of the rehabilitation program.

She said they shipped out 200,000 metric tons of ore “with export permits for the purpose.”

Protected... from page 20

Tree Ordinance enacted in December of 2008.

The city government has declared and tagged a total of 67 century trees and 51 heritage trees since 2009 until this year.

Ordinance No. 341 states that “Century Trees” are those that have lived for more than 100 years while “Heritage Trees” are those which may not have reached 100 years “but are considered ecologically, historically or culturally valuable or belonging to a rare species or are adjacent or near a water source, spring or well and whose cutting or destruction will disrupt or destroy the water source.”

It is in line with the city government’s program to preserve and conserve the environment. (PNA)

Power back in some parts of Bohol, Negros Oriental

MANILA -- Power in some parts of the provinces of Bohol and Negros Oriental was restored late Tuesday afternoon as the National Grid Corporation of the Philippines (NGCP) said restoration work continues.

In an advisory past 11am Wednesday, NGCP said power was restored at the Ubay-Trinidad-Carmen 69-kV Line at about 5:46pm Tuesday and the Ubay-Alicia-Tagbilaran 69-kV Line at about 5:49pm during the same day.

The Ubay-Trinidad-Carmen 69-kV Line, which tripped on 8:15am on October 15, 2013, services portions of Bohol I Electric Cooperative, Inc. (BOHECO I) and portions of Bohol II Electric Cooperative, Inc. (BOHECO II).

The Ubay-Alicia-Tagbilaran 69-kV, which tripped around 8:15am Tuesday, services portions of Bohol Light Company Inc. (BLCI), portions of Bohol I Electric Cooperative, Inc. (BOHECO I), and portions of Bohol II Electric Cooperative, Inc. (BOHECO II).

Relatively, power has been restored at the BindoyGuihulngan 69-kV Line at around 9:04 am Tuesday after it tripped at around 8:15am the same day. The line caters portions of Negros Oriental I Electric Cooperative, Inc. (NORECO I).

Also, NGCP has restored power along the Amlan-Siaton 69-kV Line at about 2:36pm Tuesday after this tripped at about 2:27 pm of the same day. This line services portions of Negros Oriental II Electric Cooperative, Inc. (NORECO II).

The Bagacay-Siaton 69-kV Line was also restored at about 8:40 pm Tuesday after this tripped at around 4:40pm same day. This line caters to portions of Negros Oriental II Electric Cooperative, Inc. (NORECO II).

Power trip in these areas was still due to the 7.2 magnitude earthquake that hit Bohol.

On the other hand, NGCP said there are areas that remain without power to date but assured the public that restoration work is on-going along the Tagbilaran-Carmen 69-kV Line , which tripped at around 8:15 am Tuesday.

This line caters to portions of BLCI, portions of BOHECO I and portions of BOHECO II. The grid operator clarified that “loss of power may be caused by affected transmission facilities of NGCP or distribution facilities of local distribution utilities or electric cooperatives.” (PNA)

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C AG AYA N D E O RO M A I N B R A N C H 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 CO R R A L ES B R A N C H 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 L A PA SA N B R A N C H Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

CDO 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 CO R R A L ES B R A N C H Corrales Ave., Cagayan de Oro City

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thursday | October 17, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776