BusinessWeek Mindanao (October 2, 2019)

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Livelihood THE UNITED Nations Human Settlements Programme has started a P44.2-million livelihood project for Marawi City residents affected by a terrorist attack in 2017. The Japan-funded project that will run for six months will complement a shelter project it is implementing and will benefit about 4,000 households, the UN agency said in a statement at the weekend. The project, which features agribusiness and enterprise development and training, will help reintegrate people displaced by the clash between Islamic State-linked terrorists and government troops, it said. The program will prioritize people from the 20 villages near Lanao Lake who could no longer return to their homes. — CQ Francisco

Coco fund SENATOR Cynthia Villar is confident that President Rodrigo R. Duterte would sign the re-filed Senate Bill 1233, or the Coconut Farmers and Industry Development Act, and Senate Bill 1976, or the Strengthened Philippine Coconut Authority (PCA). Duterte vetoed the bill in February for lack of “safeguards” to prevent coco levy funds from being used unlawfully. In her speech during the opening of the 2019 Davao Agri Trade Expo (DATE) held here Thursday, Villar said she was hoping for its approval, noting that the President mentioned in his 4th State of the Nation Address (SONA) that the development of the country's coconut industry remains a priority.

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IN-DEPTH

Wednesday|October 2, 2019

P15.00

CDO bans swine products from outside N. Mindanao T Thank you for trusting us!

By FROILAN GALLARDO, MindaNews

HE CAGAYAN d e Oro city government has imposed a ban on all pork and pork products coming from other regions to protect Northern Mindanao’s hog production from being contaminated with the African Swine Fever. The order signed by City Mayor Oscar Moreno also discouraged hog raisers from feeding their animals with leftovers from restaurants

and diners. Juliet Araos, Department of Agriculture Northern Mindanao spokesperson BANS/PAGE 11

MinDA, DILG to offer Israeli solar program to LGUs in M’nao, Palawan FARMERS BOUNTY. Farmers weigh their harvest of Chinese pechay in Brgy. Kibangay, Lantapan, Bukidnon. mindanews photo by gg bueno

LTFRB-10 lauds Oro transport groups for not joining strike By GERRY LEE GORIT, Reporter

THE Land Transportation Franchising and Regulatory Board-10 (LTFRB-10) lauded transport entities that did not join the nationwide strike held Monday as public

utility jeepneys ply the city’s streets and thoroughfares throughout the day. LT F R B - 1 0 r e g i o n a l director Aminoden Guro said this could be due to the

fact that most of the transport groups in the city are already amenable to the Public Utility Veh i cl e Mo d e r n i z at i on Program (PUVMP) of the Duterte administration. “Most of them have LAUDS/PAGE 11

By CARMELITO Q. FRANCISCO, Correspondent

D AVA O C i t y — T h e Mindanao Development Authority (MinDA) has partnered with an Israeli agricultural company to develop a water system for drinking and irrigation for

possible use in remote areas in Mindanao and Palawan. In a statement over the weekend, MinDA said it has also been working with the Department of Interior SOLAR/PAGE 11

China vows more aid for Mindanao By BONG S. SARMIENTO, Correspondent

DAVAO City — China’s top diplomat in Mindanao vowed Sunday night that Beijing will continue to help develop the island’s potentials “so it can strongly contribute to

the growing bilateral ties between the two countries.” Li Lin, consul general of the Chinese Consular Office here, gave the assurance i n a d i n n e r re c e pt i on

to celebrate the People’s Republic of China’s (PRC) 70th foundation anniversary on October 1. “China’s cooperation with the southern part of the Philippines will be AID/PAGE 10

VIVA SEÑOR SAN MIGUEL! Mother and child join the procession during the feast of St. Michael the Archangel in Iligan City Sunday morning, Sept 29. mindanews photo by bobby timonera

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Local

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WEDNESDAY|OCTOBER 2, 2019

Iligan, Lanao Norte drivers snub nationwide transport strike

I

By DIVINA SUSON, PNA

LIGAN City -- The Coalition of Lanao Utility Transport for Change (Clutch) and its national umbrella group, National Confederation of Transport Union (NCTU), decided against participating in Monday's nationwide transport strike. The protest, organized by the Pinagkaisang Samahan ng mga Tsuper at Operator Nationwide (Piston), was supposed to rally against the looming

public utility vehicle (PUV) modernization program, which is expected to roll out by 2020. Clutch chairman

Raul Permites noted that when his group staged a transport strike in February 2017 against the modernization, Piston and the latter's allied groups refused to join them. Permites also explained said they no longer oppose the planned PUV modernization after getting assurances from the government, including a three-year moratorium. “We got the explanation from the government about the modernization program and we understand it,

and we agree that there is a need for the change of public utility in the Philippines. It is a good program actually,” Permites said. “What we asked from the government is to give us five-year transition

period but I think three years is already final, and it will end in 2020,” he added. Permites said their remaining demand is for the government to increase the PHP80,000 pesos subsidy for each

affected PUV driver or operator. Clutch has more than 1,000 members plying in 24 routes and is a member of the Misamis Iligan Lanao Transport Service Cooperative (MILTSC). (PNA)

COTABATO City – An official of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) on Friday assured United Children’s Fund (Unicef ) national ambassador Gary Valenciano that the region is supporting all Unicef programs.

Abdullah Cusain, BARMM acting executive secretary, made the pronouncement after Valenciano, known in showbiz as Mr. Pure Energy, visited the mountain town of North Upi, Maguindanao on Sept. 26 to mingle with the indigenous peoples (IPs)

in the area, especially the children. Before his visit to North Upi, Valenciano paid a courtesy call to the BARMM Office of the Chief Minister here with Cusain and Minister Melanio Ulama of the region’s IPs affairs ministry, accepting him. Accompanying Valenciano here were his wife Angeli and Andrew Morris, the Unicef chief of the field office, who also both went with the former to North Upi. “BARMM supports all programs for the benefit of children, especially Moro children,” Cusain said in a statement. Valenciano’s visit to the upland town forms of Unicef ’s campaign to strengthen the promotion and protection of the rights of children in the SUPPORT/PAGE 11

BARMM official assures Unicef envoy of support

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 Purefoods assures its pork products not affected by ASF Fruitas Holdings ramping up store expansion F Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

WEDNESDAY|OCTOBER 2, 2019

CorporateWorld

THE Purefoods-Hormel Co. on Thursday assured the public that its hotdogs, bacon and canned products are safe to eat and are “not affected by the African Swine Fever (ASF).” “The pork ingredients in Purefoods chilled, frozen, and processed products are produced from company-controlled hog breeding, growing, and slaughtering facilities that observe the highest level of bio-security measures and processing plants that have passed all stringent requirements of (Bureau of Animal Industry) and (Food and Drug Administration),” the

joint venture of US-based Hormel Foods and San Miguel Pure Foods Co., Inc. said in a statement. For imported meat parts, the company said it only uses those from ASFfree countries and that have passed the veterinary quarantine requirements. “Moreover, Purefoods chilled products like hotdogs, bacon, and canned products like luncheon meats are cooked in high temperatures, thereby destroying harmful viruses like ASF, and making them safe for consumption by humans. It is also important to note that ASF does not affect ASSURES/PAGE 11

OOD and beverage kiosk operator Fruitas Holdings Inc., which is preparing for an initial public offering (IPO), is expanding its footprint as it plans to have up to 750 new stores in the next three years, amid strong consumer spending and vibrant economy. Fruitas Holdings chief financial adviser Calvin Chua said the company will use P586 million out of about P1-billion net proceeds from the IPO for its store

network expansion and improvement of existing stores. Chua said they aimed to increase the number of stores across the country by 150 to 250 annually until 2022. “In terms of prospects, all the factors are still there --growing middle class, rapid urbanization. Last year, our combined VisMin (Visayas, Mindanao) sales was 150 percent higher than 2017. This year, we think it will be broadbased, it could be more spread across the whole

country… The economy is really vibrant, so we think growth prospects are very good for us,” he told reporters Tuesday. As of June 2019, Fruitas had 949 stores, 774 of which were owned and 175 were franchised. The company targets to hit its 1,000th store mark by the end of 2019. It ended first half 2019 with P942 million in revenues, up 30 percent over the first half of 2018. “Apart from that, the other avenues of growth would be, we

also allocated 15 percent of our net proceeds, about P150 million, for potential acquisitions and the introduction of new concepts. We also intend to diversify (our) distribution channels,” he added. Chua particularly cited the lechon delivery through contacting mobile or landline numbers, and the revival of its coffee kiosks. Fruitas acquired Sabroso Lechon in 2018. He said the company is also banking on EXPANSION/PAGE 11

UNDERWRITERS of Villar-led AllHome Corp. are confident investors will participate in its bid to raise up to P14.878 billion in its initial public offering (IPO), after a series of both local and international roadshows. “We have been receiving a lot of interest, so that has been a strong sign of support of potential investors,” PNB Capital & Investment Corp. President Gerry B.

Valenciano told reporters after AllHome’s investors’ briefing for the IPO in Taguig last Friday. PNB Capital is the lead domestic underwriter for the offering. Ryan Martin L. Tapia, president of co-lead domestic underwriter China Bank Capital Corp., also said that they have seen interest from cornerstone investors. “As part of the roadshow for the

bookbuilding process, the company was able to attract a lot of interest,” Mr. Tapia said in the same event. The underwriters have allotted 70% of the offer to international investors and other qualified domestic institutions. Trading participants of the Philippine Stock Exchange (PSE) will be given 20%, while the remaining 10% will be offered through the local small investors

program. “We’re pretty confident local investors can make a good show and give the international investors a run for the allocation,” Mr. Tapia said. AllHome has also hired UBS AG, Singapore Branch as the offer’s sole global coordinator and joint bookrunner, while CLSA Ltd. and Credit Suisse (Singapore) Ltd. will act as joint bookrunners. The offer period for

AllHome’s IPO will run from Sept. 30 to Oct. 4. Its shares will be listed on the main board of the PSE on Oct. 10. The company, led by the country’s richest man Manuel B. Villar, is offering to the public a total of 1.29 billion shares at P11.50 each. This is made up of 1.125 billion common shares and 168.75 million shares as part of the over allotment option. AllHome will use

proceeds from the issuance to finance the establishment of 43 out of 45 new stores it will put up until 2020. This will bring its net selling area to 443,280 square meters by 2020. Portions of the proceeds will be also used to repay debt obtained for the initial working capital of its existing 20 stores. Asked if the company is on track to meet its ALLHOME/PAGE 11

Strong investor interest in AllHome IPO seen

4

Opinion

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JEROME DE LA FUENTE

China’s national holiday so-called Golden Week, just 3 days away until October 7 looks like offering little respite for retailers and the tourism industry hit by what is now 17 weeks of spasmodic protests which is discouraging visitors from

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Master Plan Thin k a minute… B en Banneker was a respected African-American scholar who became a brilliant mathematician, designer and engineer. In fact, Ben was appointed by the U.S. S ecretar y of State to a top team of engineers to design the master plan for a modern city. The group of international engineers was led by French architect Charles L’Enfant, whose grand plan was to be used for this modern masterpiece that included both artistic beauty and the latest technology i n t r a n s p o r t at i o n a n d communication. Unfortunately, for this genius architect L’Enfant, he soon was accused of trying to control the plan for his own purposes. So before the land had even been surveyed, the chief engineer and architect returned to France, taking the government’s plans with him. With their city plans now gone, the U.S. Secretary of State called an emergency meeting of all the city commissioners and engineers, including Ben Banneker. In the meeting, Ben shocked

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THINK A MINUTE

the mainland and further afield. This is typically the start of the peak retail season which stretches through to Lunar New Year. In an in-depth analysis on the short-term prospect for Hong Kong tourism industry, Bloomberg paints a gloomy picture: “ The city’s tour guides, hotel owners and shop assistants are staring down an abyss of empty planes, vacant hotel rooms and ghostly theme parks.” The business-news source reported Chinese group tours next week are expected to plunge by 86 per cent compared to the same period last year, citing figures from the Hong Kong

Travel Industry Council. “F l i g ht p r i c e s f r o m Shanghai to Hong Kong are 38 per cent cheaper than last year’s fares and only 30 per cent of hotel rooms are booked for the holiday period.” With foreign visitors accounting for about 50 per cent of Hong Kong retail sales, retailers relying on tourist trade – especially the luxury brands and cosmetics stores – are already reporting declines of up to 50 per cent in August, according to various sources. On the contrary, those retailers primarily serving the local market, such as sup ermarkets and fastf ash i on, are much le ss

affected. Yiu Si-wing, a Hong Kong lawmaker representing the tourism industry, told Bloomberg that this time last year, 70 per cent of the city’s hotel rooms were book, compared with just 30 per cent currently. He predicts a 40-per-cent decline in tourism arrivals next week. However, with airline bookings light, some mainlanders are reportedly adopting a wait-and-see attitude to see how serious the protest activity is during this weekend and on Tuesday before making a last-minute decision to head to Hong Kong for retail therapy if disruption to key retail precincts is minimal.

Borrowed life

NELSON CONSTANTINO Editor-in-Chief

WEDNESDAY|OCTOBER 2, 2019

Tourism operators, retailers 'staring down an abyss' ahead of Golden Week

BUSINESSWEEK MINDANAO CORPORATION Publisher

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KLAUS DORING Sweet words are easy to say; nice things are easy to buy; but good people are different to find. Life ends, when you stop dreaming; hope ends, when you stop believing; friendship stops, when you stop sharing. A go o d f r i e nd of m i ne sent me this quotation. I commented back: So very true and very well said! When this paper hits t he roads, I am still in Manila attending several important diplomatic meetings and celebrating

Germany's National Day of Unity on Oc tob er 3. Especially this celebration let me always think back. 20 years ago, 30 years, even 40 years ago... . Fact is: our life is borrowed - from God. No rental charges are collected from us. Many of us have forgotten this and live life at his fullest. Our life is equal to a book from a library that lends one. But how insatiable and unbearable are we in disdainful acting towards life and therefore to ourselves? Remember: life is just a loan! Life seems to be nothing, just being ready to riddle one with bullets. Life seems to be nothing, just being broken through the indifference and unreliable and immoral behavior. Life seems to be nothing for those people who don't u n d e r s t a n d c r i e s f ro m the heart of other people around them - cries for

their hearts and families, for justice, cries for peace and for many other things. Life with all its ups and downs, is just a loan, but for many of our fel low creatures it just seems to be nonsense to be littered like dump. And, if people try to survive, especially du r i ng t he s e d ay s , and if they just experienced (once more!) indifference, arrogance, ignorance or cheating by whomever they will give up! I can assure you that e ve r y on e of u s c an at first help in prayers and, in reading the bible. "Proverbs" is the probably most down-to-earth book in the bible. Its teachings prepare you for the daily l i fe, t he st re e t and t he market place, but not for the schoolroom. The book offers warm pieces of advice you get; practical guidance for making your way on e a r t h . P rov e r b s c ov e r s

any k i nds of qu e st i ons you might have right now. Anybody can relate to the generalities of Proverbs, because this book simply tells how life works most of the time. While writing this p i e c e , I o b s e r v e d t h at m ore an d m ore p e opl e struggle through life: tired, h op e l e s s , e x p e r i e n c i n g their rock-bottoms, believing in fallacious " p e op l e " a rou n d t h e m . I also obser ved a lot of people living a thief life, as if it it has been giving them without limitation. "Let's enjoy every single loophole in law!" What a sad and fatal attraction! +++ Email : dor ing klau s @ g mail.com or follow me i n Fa c e b o o k , L i n k e d i n or Twitter or visit www. germanexpatinthephilippines.blogspot.com or www. klausdoringsclassicialmusic.blogspot.com.

Wealth does not last beyond three generations

Research confirms the truth of this old saying. A significant 90% of family-owning businesses lose their wealth by the end of the third generation. The real tragedy is “If wealth disappears, so does JHAN TIAFAU HURST the family.” When family members are pitted against them all by assuring them that each other, expect familial ties he had thoroughly studied severed for good. It’s a sad L’Enfant’s maps and plans commentary on the reality and Ben was quite certain that faces family business. he could remember every The reasons are naturally detail. predictable: generational At first, the committee c o n f l i c t ( f a t h e r a n d did not believe that anyone children), power struggles could keep in their mind (between siblings, among all the complex designs cousins), pride, emotion, and drawings of an entire personality differences, Inlarge city! To memorize law issues, unfairness, petty the architectural details of but unresolved past family just one building would be issues, entitlement, no rules amazing enough. But Ben when joining and exiting the began to precisely draw all business. of the original plans he still The fight for money is just had in his mind… and that the finale and likely to be the beautiful modern city was last and often climactic event built entirely from Ben’s to end the years and decades memory, which Secretary of of acrimony and infighting. State Thomas Jefferson, who Sadly, there is no end. What PLAN/PAGE 11 is unfortunate is there are no

real winners, only vicious lawsuits and broken hearts. This is a story repeated all over again, a lesson many families will never learn. It i s i n c re a s i ng ly recognized that family issues more than business issues determine the outcome of generational change in family businesses. My experience in dealing with dozens of families across Asia provides an important perspective in managing this change—educating members related to family and business governance and creating legacy building measures that will ensure a seamless handover to the next generation. A significant milestone in the life of a family business is the adoption of a family constitution. Happily, more companies are now drawing up family constitutions to help them manage growth and navigate the perilous journey of transitioning to the next generation. As Bernard Rennell, head

of family governance at HSBC Private Banking highlighted, “Where the goal of the family is to continue to manage the family business or the family wealth collectively across the generations, a constitution can be very helpful.” I will further enlighten participants on this topic when I fly to the Philippines to do a 3-city public seminar engagement covering Bacolod City on May 15, Cebu City on May 18 and Manila on May 19. The Manila leg is almost sold out. There are business owners who would tend to ask if they really need a family constitution? Many family businesses appear quite able to get by without concerning themselves with any form of agreement. Of course, for as long as the business leader is alive! But what if he or she suddenly goes? Therefore, it’s always better to be prepared. To business leaders who are likely to be in their 50’s to 80’s, my message is loud and clear… stop procrastinating.

FAMILY BUSINESS COACH

PROF. ENRIQUE SORIANO You are neither supermen nor superwomen. You know very well that your years are numbered. Your gut tells you there is something brewing amongst family members and you can sense that if you lose your grip by reason of death or being incapacitated, the business you nurtured with your spouse will end up being the single biggest source of conflict. Clearly, the advantage of a family constitution is that it ensures clarity, professionalism and every signatory knows what to do WEALTH/PAGE 11

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WEDNESDAY|OCTOBER 2, 2019

5

Banking&Finance

September inflation eyed between 0.6%-1.4%

T

HE Bangko Sentral ng Pilipinas (BSP) has a forecast range of 0.6 percent to 1.4 percent for September inflation given the sustained drop in domestic rice prices and power rates. In a statement Monday, the central bank said its

Department of Economic Research (DER), however, projects the impact of lower rice and power rates to be countered by recent hikes of fuel prices resulting from similar adjustments in the international oil market. It also cited higher prices of

TRAIN collections rise to P55.6-B in first half REVENUES from the Tax Reform for Acceleration and Inclusion (TRAIN) Law rose 65 percent year on year to P55.6 billion by end of June, Finance Secretary Carlos Dominguez III said Wednesday. Citing preliminary data, Dominguez said the Bureau of Internal Revenue (BIR) surpassed its target for the six-month period by P1.8 billion, and the Bureau of Customs (BOC) by P1.7 billion. "We are confident this growth will be sustained in the coming period through continuing administrative reforms and the completion of the comprehensive tax reform program that will make our tax system simpler, fairer, and more efficient," he said during a Senate hearing on the proposed

Department of Finance (DOF) 2020 budget. Dominguez said automation of processes in both the BIR and BOC would help the agencies further increase their collections and prevent slippage. In 2018, the government was able to collect P68.4 billion from TRAIN, higher than the year’s target of P63.3 billion. The bulk of the revenues was attributable to the tobacco excise, auto excise, and documentary stamp tax collections, which stood at P51.5 billion. The TRAIN Law exempts workers with an annual income of P250,000 and below from paying income tax. To address the law's TRAIN/PAGE 11

some food items due to weather conditions. "Moving forward, the BSP will remain watchful of economic and financial developments that could affect the inflation environment in line with its commitment to price stability conducive to

long-term economic growth," the statement added. Last August, headline inflation decelerated further to 1.7 percent from monthago's 2.4 percent, bringing the year-to-date average to three percent, the mid-point of the government's 2 to 4-percent

target. Last week, BSP's policymaking Monetary Board (MB) cut anew the central bank's average inflation forecast to 2.5 percent from 2.6 percent previously due to base effects of last year's elevated inflation rate. (PNA)

Fitch Solutions sees another BSP rate cut this year FITCH Solutions still sees the Bangko Sentral ng Pilipinas’ (BSP) overnight reverse repurchase (RRP) rate at 4 percent by end2019 but is open to the possibility for another cut before yearend due to the trade tensions overseas, among others. In a report released Friday, the unit of Fitch Group maintained its forecast that Philippine monetary officials will keep the current rates on hold to monitor the impact of the total of 75 basis points cut to date but return to easing mode through another 25 basis points slash next year. “Nevertheless, we believe there is a high chance the BSP eases further as it focuses

on growth and sees scope from investor accommodation to further easing,” it said. BSP’s policy-making Monetary Board (MB) lowered the central bank’s policy rates by 25 basis points each in May, August and September after noting the sustained deceleration of domestic inflation rate and firm domestic output. The report noted monetary officials’ statement that they will remain data-dependent vis-à-vis their future decision. It, on the other hand, cited the “possibility of a further rate cut before year-end as high, with trade tensions unlikely to improve and inflationary

base effects to result in subdued Q4 price growth readings.” “Moreover, a more significant deterioration in economic readings into 2020 could see the BSP completely reverse the 175 bps of hikes in 2018, which would mean an end-2020 policy rate of 3.00 percent, but this is not our core view,” it said. The report explained that Fitch Solutions believes that BSP officials will take on a wait-and-see stance in its remaining two policy meetings this year. It also revised downwards its inflation forecast this year to 2.7 percent from three percent and the 2020 figure from 3.3 percent to 3.1 percent on projection for a

sustained drop of inflation rate in the coming months. In the first eight months this year, inflation averaged at three percent, the mid-point of the government’s two to four percent target band until 2021. Except for the uptick to 3.2 percent last May, from the previous month’s three percent, inflation continued its downtrend after peaking at 6.7 percent in September and October last year. Last August, inflation decelerated further to 1.7 percent from 2.4 percent in July. The report said that “as the base effects fade through 2020, the BSP will focus more on the FITCH/PAGE 11

6

Environment

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WEDNESDAY|OCTOBER 2, 2019

UN chief urges leaders to avoid 'new coal' after 2020

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ENSIONS ran high at the UN Climate Summit in New York when United Nations Secretary (UN) General Antonio Guterres challenged leaders to no longer invest in new coal projects after 2020, followed by young climate activist Greta Thunberg’s impassioned speech on how these same leaders have failed her and her generation in taking climate action. However, the summit did witness many leaders announcing concrete climate action plans by 2020, 2030 and 2050. One of the most important developments at the summit was that Russia ratified the Paris Agreement on Climate Change, leaving Turkey the only remaining G20 country not to do so. Countries including France, the U.K., Argentina, Costa Rica, Finland, New Zealand, and Sweden announced a new Climate Ambition Alliance bringing the number of nations to 59 which also promised to submit a stronger action plan in 2020. Another 11 countries, including India, China, and some European Union countries, signed up to start exploring national commitments towards climate plans while Austria, Chile, Italy, Japan and Timor-Leste declared membership to the Carbon Neutrality Coalition. The coalition helps countries develop plans to move towards net zero emissions by 2050. Another 66 countries started to work on net zero-emission targets. A remarkable announcement came from Greece, which committed to ending coal use by 2028, with a plan to start

dismantling coal plants in 2020. Coal plants account for around a quarter of the country's total installed capacity. Germany’s performance was considered disappointing at the summit as German Chancellor Angela Merkel repeated the country's current plans to phase out coal plants by 2038 without further concrete plans. Above all the declarations and determination plans, the angry but touching voice of sixteen-year-old Thurnberg during her speech at the opening summit will be remembered for berating those assembled. "My message is that we will be watching you. This is all wrong. I shouldn’t be up here. I should be back in school on the other side of the ocean," she said. "You have come to us young people for hope. How dare you? You have stolen my childhood with empty words. Yet, I'm one of the lucky ones. People are suffering, people are dying. All you can talk about is money and fairy tales of eternal economic growth. For more than 30 years, the science has been crystal clear," she said. U.S. President Donald Trump who already decided to withdraw from Paris Climate Agreement left the summit after he listened to Thunberg's speech and later tweeted in a mocking tone “She seems very happy!” The question "How dare you?" began to trend on Twitter during the day while cameras captured Thunberg's angry stare at Trump just before the summit started. Guterres's closing remarks at the summit concluded that the world has a

United Nations Secretary (UN) General Antonio Guterres (Anadolu photo)

long way to go to keep the temperature rise to 1.5 degrees by the end of the century, echoing Thurnberg's message. Funding for climate action increases Several institutions and banks announced commitments to aligning to 1.5 degrees Celsius threshold. Qatar pledged USD100 million to fund climate action and resilience in small island states and least developed countries. The Green Climate Fund reached USD7.4 billion with eight countries, including Iceland, Sweden, Denmark, Switzerland, Norway, the United Kingdom, Germany, and South Korea pledging to the fund. The target for the fund in support of climate action in developing countries is

to reach USD10 billion. 100 banks to set corporate-level business One hundred banks, worth USD35 trillion, committed to setting corporatelevel business targets. Eighty-seven companies with a total value ofUSD$2.3 trillion, and annual climate impact equivalent to 73 coalfired power plants agreed to reduce emissions. Following this announcement, the UN-convened Asset Owner Alliance committed to transitioning to carbonneutral investment portfolios by 2050. The alliance, a group of the world’s largest pension funds and insurers, is responsible for directing more than USD2 trillion in investments. (Anadolu)

DENR seeks add’l P3-B for Enforcement 'Onyok' heading north towards east of Taiwan Bureau, E-NIPAS, land titling By MA. CRISTINA ARAYATA

SECRETARY Roy A. Cimatu expressed hope the Department of Environment and Natural Resources (DENR) would receive the P3.036 billion additional funding it needed to bankroll three crucial programs the agency will start to implement next year. “We are hopeful the budget augmentation will be included in the final version of the 2020 General Appropriations Bill (GAB) to be passed by Congress—the House of Representatives and the Senate—and signed into law by President Rodrigo Roa Duterte,” Cimatu said. The proposed funding increase includes P1.2 billion for the Enforcement Bureau; P1.8 billion for the full implementation of the Republic Act No. 11038 or the “Expanded National Integrated Protected Areas System (E-NIPAS) Act of 2018” ; and P36 million for land titling. During the budget deliberation at the House Appropriations Committee held last September 6, both the Majority and Minority

blocs threw their support behind Cimatu’s plans to create an Enforcement Bureau with the assurance that they would push for the augmentation of the DENR budget during the bicameral conference on the 2020 GAB. He explained that with its own Enforcement Bureau, the DENR could effectively enforce environmental laws and protect its workers who have been the vicious targets of illegal loggers and other environmental criminals. The environment chief made the appeal a few days after Bienvenido Veguilla Jr., a DENR forest ranger, was brutally killed by suspected illegal loggers in El Nido, Palawan. The deliberation likewisetackled the need for the additional funds for the full implementation of and the acceleration of land titling and distribution of public lands. Last Sept. 20, the House approved on third and final reading the P4.1trillion national budget for

2020, including the P25.5 billion allocation for the DENR which is 16 percent higher than the P21.96 billion it got for this year. The Senate had already started its own review of the government’s spending plan for next year and is expected to come up with its own version of the GAB. “We are hoping that the DENR would get the same extent of support from the senators just like their counterparts in the House when they meet at

the bicameral conference committee,” Cimatu said. “Representatives crossed party lines in casting their support,” Cimatu said, referring to the commitment of support given by House Majority Floor leader Martin Romualdez, House Minority leader Manila 6th District Rep. BienvenidoAbante Jr., and independent opposition Albay 1st District Rep. EdcelLagman. At the deliberations, ADDITIONAL/PAGE 10

Typhoon Onyok slightly intensified, and is now heading northwards over the sea east of Taiwan moving at 20 kph, the weather bureau said on Monday afternoon. Onyok was last eyed at 320 kilometers north, northeast of Basco, Batanes. It has maximum sustained winds of 130 kph, and gustiness of up to 160 kph. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) maintains it does not expect Onyok to make landfall in any part of the country. The typhoon is forecast to leave the Philippine Area of Responsibility either Monday night or early Tuesday. Tropical cyclone wind signal no. 1 was raised over Batanes and Babuyan Islands. Sea travel is risky over these areas, as well as the northern and eastern

seaboards of northern Luzon. PAGASA said the rain bands of Onyok will continue to bring occasional light to moderate with intermittent heavy rains and gusty conditions over Batanes Monday night. The typhoon will also bring scattered rain showers and thunderstorms over Babuyan Group of Islands, Ilocos Norte, Apayao and Cagayan. Metro Manila and the rest of the country will have isolated rain showers caused by localized thunderstorms. Meanwhile, moderate to strong winds will blow over the eastern sections of central and southern Luzon, and the rest of northern Luzon. Coastal waters along these areas will be moderate to rough. Elsewhere, winds will be light to moderate with light to moderate seas, PAGASA said. (PNA)

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WEDNESDAY|OCTOBER 2, 2019

RDC-X consults public on RDP Midterm Update A PUBLIC consultation on the draft Regional Development Plan (RDP) 2017-2022 Midterm Update was conducted by the Regional Development Council (RDC)-X on September 25 at Chali Beach Resort, this city. The recalibrated regional development strategies and imperatives contained in the RDP 2017-2022 Midterm Update were presented to the region’s stakeholders such as the regional line agencies (RLAs), local government units (LGUs), private sector, academe, and civil society organizations. Representatives from business, basic sectors, and the academe gave their inputs on the selected chapters of the plan and their respective commitments to support the plan’s priority action areas. Mr. Jaime Rafael U. Paguio, co-chairperson of the RDC-X Social Development Committee (SDC) and business sectorrepresentative, emphasized the need to strengthen the academe-industrygovernment collaboration to respond to labor and employment concerns such as job mismatch and underemployment, among others. Speaking on behalf of the basic sector was Ms. Melagros M. Maquiling, SDC private sector

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representative from the Differently Abled Women Network, Inc., highlighted accessibility as an indicator for inclusive development. From the academe, Mr. Roel R. Ravanera, cochairperson of the RDC-X Economic Development Committee, shared the service-learning program of Xavier University-Ateneo de Cagayan that links the industry, community and LGUs to provide real-world learning application. From local chief executives, Mayor Rey Buhisan of the Municipality of Magsaysay, Misamis Oriental, who is also president of the League of Municipalities of Misamis Oriental, and Mayor Rommel Maslog of the Municipality of Talisayan, Misamis Oriental, shared

What is leadership? By: DAPHNE V. BASAL

Leadership is defined as any attempt to influence the behavior of another i n d i v i d u a l o r g r o u p. Such definition connotes a big responsibility and role of a leader. The role of influencing others is a challenging task that requires introspection about your capabilities and behavior. You have to know yourself first and able to capitalize the strengths that you have to inspire and motivate other people. Mostly, inspirational leaders are people who know themselves. Their leadership is developed from the inside out. They are confident in telling their strengths and weaknesses without any hesitation or embarrassment. They get their confidence from liking and understanding themselves. They are open to feedback and constructive criticism, and they are able to admit and apologize for mistakes. Their self-esteem is based on acknowledging that nobody is perfect, but that life is a journey with lessons to be learned along the way. Learning about

OROBANKERS DIRECTORIES

yourself is the often the hardest lesson. Influence is the trademark of an effective leader. To influence is to have an impact on the behaviors, attitudes, opinions, and choices of others. One’s leadership can have a direct impact on members’ motivation, self-esteem and eventually their performance. A leader must create an environment where his member will excel. If most of t he members are motivated- the role of the leader in not to motivate them. If members are engaged in their work and have an opportunity to do what they do best, they will be an asset to the organization. Leadership is not necessarily associated with authority. It is about mobilizing people to tackle the challenges and do their best for the organization. Leadership is embedded to all of us, but the key is to unlock our personal passion which will give us the courage to do things that appear difficult and uncertain.

their thoughts on the plan and acknowledged the critical role of local governments in local development. Moreover, Major General Franco Nemesio M Gacal, commander of the 4th Infantry DivisionPhilippine Army, shared region's efforts to attain

inclusive and sustainable peace and development through the whole-ofnation approach. The activity capped the series of sectoral, regional, and provincial plan consultations undertaken since July of this year. (Mezlaine Jay Pacana/ NEDA-X/PIA10)

My Parents, My Best friend By JEANETH L. JABUNAN Bongbongon Elementary School NHA, Kauswagan, Cagayan de Oro City Teacher I

Parents are the first teacher of a child. They are the first one to mold his/her personality and traits. They equipped their child before he/she takes his/her own journey in this world. Parents are his/her first friend because they play with their child when he/she wants to play. They’ll listen to their child’s unending stories and they loved to hear it. The love and care they manifest for their child is unconditional. “A p a r e n t - c h i l d relationship is the foundation of a child’s personality, choices and overall behavior. A healthy relationship of parents to their children leads to a positive outcome for the children and the family. It also affects the strength of their social, physical, mental, and emotional health.” (momjunction, July 19, 2019) The positive outcome of this relationship are the openness of a child to his/her parents, happy and content relationship with others, and having optimistic and confident social behavior. First, openness of a child to his/her parents. He/she is not afraid to tell everything to his/her parents may it be struggles, victory or anything else because he/ she is confident of their relationship as a family. A child’s trust to his/her parents is full because they have develop it during his/ her younger age and the

fruit of it is openness. This also build a character of a child of being trustworthy because his/her parents set an example before him/her. S econd, happy and content relationship with others. He/she has a strong interpersonal skills because of the bond he/she has with his/her parents. He/she can connect easily towards the people around him/her and radiate the joy that he/ she has experience in his/ her family. This trait allow him/her to attract others towards him/her because they can see how he/she values relationship. Last, having optimistic a n d c on f i d e nt s o c i a l behavior. Parents builds his/her confidence inside their home and it’s one of the reasons why he/she has optimistic and confident social behavior. His/her confidence is built through consistent communication with his/her parents. A child has develop it in his/her own home and it became part of his/her personality. In conclusion, parents played a significant role in the life of their child especially in building their social skills and relating to others. Parents are the child’s first true friends and will always be his/her friends for the rest of his/ her life. When someone will ask him/her how he will describe his/her parents he/she could boldly say that “My parents are my bestfriend.”

BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN

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PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.

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WEDNESDAY|OCTOBER 2, 2019

RESORTS, HOTEL & RESTAURANTS DIRECTORIES

A PUBLIC SERVICE BY:

ALGEN’S DIVE RESORT (088) 3872015 APPLE TREE RESORT & HOTEL 735411 / 754525 Fax: 754497 0917-7144040 / 0923-3269366 / 0939-9076948 BAHAY BAKASYUNAN SA CAMIGUIN (088) 3871057 / 3870131 Fax: 3870278 BASAMANGGAS RESORT 08822-760564 Fax: 760565 CAGAYAN RIVERVIEW INN 8584245 / 729039 Fax: 8584245 CASA CRYSTALLA 8561704 / 722465 Fax: 722480 CASA ISABELLA (088) 8564065 CASA AZUCENA 8563402 / 09236593973 CHALI BEACH RESORT 732840 / 8552108 Fax: 8555941 CHANANTHON BED & BREAKFAST 8568189 / 3093095 COUNTRY VILLAGE HOTEL 8583004-06 Fax: 8583006 D’BUDGETEL 8564200/726643 Fax: 8564300 DAHILAYAN FOREST PARK 8568562 to 63 DE LUXE HOTEL 8572144 / 724548 Fax: 724563 DISCOVERY HOTEL 727814 / 8563896 Fax: 8563897 DUKA BAY RESORT (088) 3312290 Fax: 725265 DYNASTY COURT HOTEL 8574802 Fax: 857900 GRAND CITY HOTEL 8571900 / 728469 Fax: 723718

PRYCE PLAZA HOTEL 8583131 Fax: 726687 PRAWN HOUSE (088) 3095992 Fax: 8519219 RIDGE VIEW CHALET 8588946 / 8587946 Fax: 8588946 SEDA CENTRIO HOTEL 3238888 / 0917-577-5910 SOUTHWINDS HOTEL 724803 / 8562036 Fax: 8562036 STARGATE DREAM VACATION RESORT 8515003 / 8509999 THE VIP HOTEL 726080 / 8562505 Fax: 726441 RED PLANET 8800888/8801306 TRAVELERS POD 8518988 UPTOWN CONDOTEL 8511800 VILLA PARAISO APARTELLE 3870419 Fax: 3870429 HONORARY MEMBERS: DEPT. OF TOURISM 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: BIGBY’S CAFÉ 72-1071/857-5511/8575836 Fax: 711843 CAFÉ LAGUNA 8582999 Fax: 8567001 DM VILLARUY RESTAURANT 733790 GOLDEN AJIRANG I 856-5271 Fax: 727876 GRAND CAPRICE RESTAURANT 72-6955/856-2302 Fax: 72-4986

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SLERS HAM & CAFÉ 8551438 THAI ME UP 738424/3108424 Fax: 738424 BARKADAHAN GRILL 8551234 LA TEGOLA CUCINA ITALIANA 8585959 LIMKETKAI LUXE HOTEL 8800000 DEAR MANOK 8564914 / 8573413 LIMKETKAI LUXE HOTEL Landline: (088) 880-0000, Mobile: 0917-312-4563 Email: info@limketkailuxe.com

Infrawatch PH: Whatever happened to PUV modernization pilot areas? A major factor in the continued opposition of jeepney drivers and operators to the PUV modernization program is the absence of palpable and positive results in pilot areas identified by transport agencies, such as Taguig, Pateros and Pasay. “Since the announcement of pilot areas in 2017, we have not monitored a single official report or briefing by the country’s transport agencies on whether the pilot areas were viable, profitable routes for jeepney operators and drivers that would enable them to regularly pay the high financial costs of implementing the modernization program,” said Terry Ridon, Infrawatch PH convenor and former House transport committee

Jeepney drivers and operators in Cagayan de Oro did not join the Sept 30 nationwide transport strike (MindaNews Photo)

member. Ridon, who raised concerns on the PUV modernization program as

the Duterte government’s urban poor chief, said a positive result of the modernization program

in pilot areas is critical to convince operators-drivers that acquiring modern AREAS/PAGE 9

How to Respond the Challenges of Developing Learners’ Dressmaking Skills By: DAPHNE V. BASAL

It is not a secret that the l e v e r a g e for f i n an c i a l stability is entrepreneurship. Ac c o r d i n g t o s e v e r a l researches, 8 to 10 selfma d e m i l l i onai re s are entrepreneurs. It is necessary to foster this pursuit to our youth to generate a better and improved economic soundness. Dressmaking is one of the keys in realizing this goal. This skill is an important ass et to an individua l because of its demand and feasibility. Thousands of garments in various occasions are needed to constantly provide for this requirement. Apart from this, through

dressmaking, an individual is taught to become selfreliant, develop their selfconfidence and learn how to value themselves. These are the valuable advantages of learning a life skill. In addition, it helps improve an individual’s capability to understand and interpret instructions and procedures. Thus, teaching the youth to become systematic and organized in their work. Dressmaking also develop or improve the creativity and innovative skills of the individual. They can make their own designs and styles. Thus, dressmaking equips individuals with skills, thereby preparing

to become better person, employment opportunities and business ventures. Achieving this craft is a challenge because it stipulates commitment, effort and support from their families, school and stakeholders. It is said so because, the aptitude warrants a definite purpose dedicated to practice and master the skill. Financial support must be initiated by the school and its stakeholders as this is the major contributing factor that scales the decreasing signs of interest among the learners that are willing to concentrate on the matter. There is a need for the school

to acquire learning resources in order for the learners to practice and master their skills in dressmaking. The key principles are simple. The learners need the school’s consistency in implementing the core strategies/ pedagogy in order to produce learners that are competent, committed and with positive work values to respond the demand and needs of the industry. We must prioritize the opportunities presented in developing the skills of our youth to make them more productive. In doing so, our school will be destined for greatness and so does our country.

Proper Guidance and Support Needed for Public School Children By: JEANETH L. JABUNAN Bongbongon Elementary School NHA, Kauswagan, Cagayand de Oro City Teacher I

Teachers are titled as the s e c ond p are nt s of t he children. Along with the parents the y mold the children’s character and personality through their guidance and supp or t. They, the children, may not recognize it but teachers has made a difference in their lives as they grow and take their own journey in this world. There are several things that the teachers do to guide and support the pupils/students they have encountered especially in public school. Some of it are leading the children by example, opening doors of opportunity for children to grow, and empowering children in their God-given abilities.

First, the children should be led by example. Children in public schools looked up to their teachers most of the time. Some of them even wish to be like them someday. Children often times imitate what they have seen in their teacher because the way he/she acts, and the characteristics a teacher shown in class might have a great influence to his/her student. So a teacher must lead the children by example because he/she is leading the way of these children to do better, to be better and grow up into people they are proud of knowing. Second, opening doors of opportunity for children to grow. Every children should be given an opportunity

to grow in their character, p ers ona lity and ski l ls. Teachers always provide a venue for the children to nurture these things. Children’s has always a room for learning and it is one of the characteristics that they have develop through the teachers who provide them guidance and support. Last, empowering children in their God-given abilities. Children have different gifts and talents and teachers recognize their multiple intelligence. One way to support the children is to empower them and nurture the gifts that they have. School teachers also provide a venue for them to develop these talents that

they are already good at. It will make a children gain confidence in their own selves because they have something in them that they already have mastered through the help of their teachers. In conclusion, teachers pl aye d a v it a l rol e i n guiding and supporting the children in their class. They work hand in hand with the parents to mold the children and prepare them for their own journey. Children may not recognize the guidance and support that their teachers has given them but one thing is for sure it’s always a joy for a teacher see the child that they have molded to succeed in life.

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WEDNESDAY|OCTOBER 2, 2019

Globe joins over 50 mobile firms worldwide in committing to disclose climate impacts

G

lobe, as part of Singtel group, joins more than 50 mobile operators from all over the world in addressing the growing problem of climate change through a commitment to disclose the impact of its operations on the environment using the internationallyrecognized CDP global

disclosure system. This is part of a major GSMA-led initiative to develop a mobile industry climate action roadmap that will create a decarbonization pathway for the mobile sector by February next year. The end-goal is to achieve net-zero greenhouse gas (GHG) emissions by 2050 aligned with the aim of the Paris Agreement in

Loans of Foreign Currency Deposit Units Grew in the Second Quarter of 2019 Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno announced today that as o f end-June 2019, outstanding loans granted by Foreign Currency Deposit Units (FCDU) of banks stood at US$17.5 billion, higher by US$676 million (4 percent) from the end-March 2019 level of US$16.8 billion as disbursements exceeded principal repayments. The growth in loans may be attributed to borrowing firms' higher working capital requirements as well as banks' lower interest rates.

Year-on-year, FCDU loans grew by 11.6 percent or US$1.8 billion (from the end-June 2018 level of US$15.7 billion). As of end-June 2019, the maturity profile of the FCDU loan portfolio remained predominantly medium- to long-term debt [or those payable over a term of more than one (1) year], which represented 78.1 percent of total, higher than the 75.6 percent level as of endJune 2018. The bulk of outstanding loans went to the following resident industries: towing, tanker, trucking

and forwarding (23.7 percent); merchandise and service exporters (16.4 percent); public utility firms (8.3 percent); and producers/manufacturers, including oil companies (4.3 percent). Gross disbursements in the second quarter of 2019 reached US$16.7 billion and were 6.5 percent higher than the first quarter of 2019's figure due to borrowing firms' higher working capital requirements and availment of loan by a government corporation in the power sector. Similarly, loan repayments were

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region OFFICE OF THE CLERK OF COURT EX-OFFICIO SHERIFF Tubod, Lanao del Norte NOTICE OF EXTRA – JUDICIAL SALE (EJF No. 223-07-2019) Upon the Extra Judicial Petition for Sale under Act 3135/1508, as amended, filed by the 1st VALLEY BANK, A DEVELOPMENT BANK, Baroy, Lanao del Norte against LITA GOMOS PEPITO, of legal age, a resident of Tubaran, Tubod, Lanao del Norte, to satisfy the indebtedness which as of March 27, 2019, amounting to ONE HUNDRED TWENTY THOUSAND PESOS (P120,000.00) excluding penalties, charges, attorney’s fee and expenses of foreclosure, the undersigned will sell at Public Auction on 15th day of October, 2019 at 10:00 A.M. or soon thereafter at the Regional Trial Court, Branch 07, Provincial Capitol of Lanao del Norte, Pigcarangan, Tubod, Lanao del Norte, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all its improvements, to wit: LIST OF MORTGAGED PROPERTIES TCT No. 149-2016000178 Lot No. A-2-C, CSD-123522-005753 “A parcel of land situated at Pigcarangan, Tubod, Lanao del Norte, containing and area of THREE HUNDRED EIGHTY FOUR (384) SQUARE METERS, more and less, including all the improvements found thereon and more particularly described and bounded as follows; Bounded on the N., along line 2-3 by Lot No. A-2-B, CSD-123522-005753; on the NE., along line 3-4 by Lot No. A-2-Q, CSD-123522-005753; on the SE., along line 4-5-6 by Lot no. A-2-K, CSD-123522-005753; on the NW., along line 6-1-2 by National Highway.” All sealed bids must be submitted to the undersigned on the above stated time and time. In the event that the Public Auction cannot take place on the said date, it shall be held on November 19, 2019 without further notice.

Tubod, Lanao del Norte, Philippines, this September 5, 2019.

BWM: October 2, 9 & 16, 2019

(SGD) ROY B. MADRONA Sheriff IV

higher by 3.5 percent, thus, resulting in overall net disbursements. FCDU deposit liabilities stood at US$41.3 billion, higher by US$1.4 billion (3.4 percent) from US$40 billion as of endMarch 2019, with the bulk (97 percent) continuing to be held by residents; these essentially constitute an additional buffer to the country's gross international reserves. Year-on-year, FCDU deposit liabilities increased by US$3.4 billion (9 percent) from the previous year's US$37.9 billion level.

2016 to reduce the risks and harmful effects of climate change by limiting the increase of the global average temperature to 1.5 degrees celsius. By reporting its climate impacts via the CDP system, Globe will enable full transparency of its initiatives to investors, customers and other stakeholders which the company already started locally in 2008 when it released its first sustainability report. In 2017, Globe shifted to an integrated annual and sustainability reporting in accordance with the Integrated Reporting Framework by the International Integrated Reporting Council (IIRC). The Globe integrated report carried disclosures consistent with the Global Reporting Initiative (GRI) Standards, United Nations’ Sustainable Development Goals, ASEAN Corporate Governance Scorecard Principles and the Securities and Exchange Commission (SEC) Integrated Annual Corporate Governance Report (i-ACGR). “Globe is one with the GSMA in this important endeavor towards

alleviating the impacts of climate change. As a telecom operator with a footprint covering twothirds of the country’s population and thousands of cell sites nationwide, we have a responsibility to demonstrate high standards of environmental management and stewardship in order to reduce our impact while we continue to transform the lives of people with technology and mobile solutions,” said Ernest Cu, Globe President and CEO. Globe recently became a signatory to the United Nations Global Compact, committing to implement universal sustainability principles. In line with its environmental sustainability program, Globe remains compliant to various regulatory requirements and has undertaken green initiatives to continuously reduce its carbon footprint in its network operations. In 2019, Globe received an enterprise-wide Integrated Management System (IMS) certification on Environmental Management (ISO CLIMATE/PAGE 10

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region BRANCH 07 Tubod, Lanao del Norte In re: PETITION FOR CANCELLATION OF LEGITIMATION SPL. PROC. NO. 344-07-2019 OF MINOR HEZEL ANN NARVASA BACO WITH REGISTRY NO. 2018-85 DULY REGISTERED AT THE LOCAL CIVIL - for REGISTRAR OF TUBOD, LANAO DEL NORTE, REPRESENTED BY HER MOTHER AZINATE NARVASA BACO. Cancellation of Legitimation AZINATE NARVASA BACO, - versus – ARTHEZEL ARCILLA BACO,

Petitioner,

Private Respondent,

THE LOCAL CIVIL REGISTRAR OF TUBOD, LANAO DEL NORTE, AND THE ADMINISTRATOR AND CIVIL REGISTRAR GENERAL, PHILIPPINE STATISTICS AUTHORITY (PSA), East Avenue, Quezon City, Metro Manila Public Respondents. x--------------------------------------------/ ORDER Filed before this Court is a petition for Cancellation of Legitimation of minor HEZEL ANN NARVASA BACO filed by her mother, AZINATE NARVASA BACO praying among others that after notice and hearing, an Order be issued directing the Respondent to effect the Cancellation sought for. Petitioner alleges that she is the mother of the minor Hezel Ann Narvasa Baco. She is a Filipino citizen, married to Private Respondent ARTHEZEL A. BACO and a resident of Purok 1, Barangay Tibanga, Iligan City. The Private Respondent is the father of the minor HEZEL ANN NARVASA BACO. He is a Filipino Citizen married to the petitioner AZINATE NARVASA BACO and a resident of Purok 1, Barangay Tibanga, Iligan City. The Respondents are sued in their capacity as such. The petitioner’s daughter, HEZEL ANN NARVASA BACO was born on March 23, 2007 at Cangomantong, Lazi, Siquijor. Her birth was duly reported and recorded in the Office of the Local Civil Registrar of Lazi, Siquijor on April 18, 2007 with Registry No. 2007-110. At the time when minor Hazel Ann was born, the latter’s parents were not yet married. On February 13, 2008, the petitioner and the private respondent got married before the Office of the Municipal Mayor of Kolambugan, Lanao del Norte. Thereafter on August 15, 2008, the Private Respondent Arthezel Baco without any knowledge of the prior registration of the Certificate of Live Birth of her daughter in Siquijor, decided to have the facts of birth of his daughter Hezel Ann recorded as “Late Registration” before the Office of the Local Civil Registrar in Tubod, Lanao del Norte. Accordingly, the same was recorded thereat. On July 18, 2018, the petitioner submitted before the Office of the Local Civil Registrar of Tubod, Lanao del Norte a Joint Affidavit of Legitimation to elevate the status of the child from illegitimate to legitimated child pursuant to their subsequent marriage with Arthezel Baco which was celebrated after the birth of the minor Hezel Ann. Sometime in August 2018, the Office of the Local Civil Registrar of Tubod, Lanao del Norte called the attention of the petitioner informing her to report to the Office of the Local Civil Registrar of Tubod, and when she was already on the office she was furnished with a Feed Back Form issued by the Philippine Statistics Authority. In the Feed Back Form, the Petitioner was advised to file a petition for cancellation of the registration of legitimation in the second registered Certificate of Live Birth of minor Hazel Ann, and once the document is cancelled, the parents will submit a new Joint Affidavit for annotation using the timely registered Certificate of Live Birth of HEZEL ANN NARVASA BACO at Lazi, Siquijor. That in order for minor Ann’s status to be elevated from Illegitimate Child to Legitimated, an Affidavit of Legitimation shall be filed at the Local Civil Registrar of Lazi Siquijor after the cancellation of legitimation on the second Certificate of Live Birth of minor Hezel Ann which is duly registered at the Local Civil Registrar of Tubod, Lanao del Norte. That the petition is made in absolute good faith and without any intention of defrauding any person or entity but solely for the purpose of straightening the record of birth of the minor Hazel Ann to conform to the truth. Set the initial hearing of this petition to October 28, 2019 at 8:30 in the morning before the sala of this Court. Any person/s interested to the petition may come to court on said date and time to show cause why said petition should not be granted. Furnish copy of the Order containing the petition to the OSG, Makati City, Office of the Public Prosecutor in Tubod, Lanao del Norte, Office of the Local Civil Registrar in Tubod, Lanao del Norte, Civil Registrar General, Philippine Statistics Authority (PSA), Office of the Public Attorney in Tubod, Lanao del Norte and to the petitioner herself, Azinate Narvasa Baco of Purok 1, Barangay Tibanga, Iligan City. Petitioner is directed to publish copy of this Order to a newspaper of general circulation for three (3) consecutive weeks, at her expense. The Acting Civil Case In-charge is hereby directed to post copy of this Order at the Bulletin Board of this Court. SO ORDERED. Tubod, Lanao del Norte. August 30, 2019. (Sgd.) DENNIS P. VICOY Acting Presiding Judge

BWM: September 18, 25 & October 2, 2019

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brought to a higher level. (With that) Mindanao is going to contribute more signif icantly to ChinaPhilippine relations,” Li said in a speech before some 1,000 Chinese nationals at the SMX Convention Center here. Next year marks the 45th anniversary of diplomatic ties between China and the Philippines, but it is only in President Rodrigo Duterte’s term that ties between the two countries became warmer. Months after assuming power in 2016, Duterte pivoted to China “to pursue an independent foreign policy,” distancing the country from long-time ally United States. According to Li, the future “looks bright for ChinaPhilippine cooperation as long as both sides can keep an overall vision and trust each other.” Li stressed that under Chinese President Xi Jinping and Duterte, the relations between the two countries “is now in the best period.” China last year established a consular office in Davao, where Duterte served as mayor for over two decades, an offshoot of his pivot to Beijing. Li noted that China’s social and economic cooperation in Mindanao has grown following the setting up of the consular office here. Besides the high-level of f i c i a l v i s it s by b ot h sides, China, in the past 12 months, donated two drug rehabilitation centers in Sarangani and Agusan del Sur, Li pointed out. With the joint efforts of the two sides, young coconuts and tuna produce from Mindanao had landed in Chinese shores, Li said. Currently, Li revealed they are working with the local and national governments to push the cooperation agreements for major infrastructure projects that included the Davao-Samal bridge, Davao river bridge and ambitious Mindanao railway project. As the guest of honor Presidential daughter and Davao City Mayor Sara Duterte lauded China for becoming one of the world’s super powers in a span of 70 years. “The historic rise of the People’s Republic of China since its foundation is one that will be remembered for generations to come,” she said. “As one of the Philippines’ biggest economic partners, we recognized how China’s growth is integral not only to our nation but all of Asia,” she added. In the past few years, t h e m ay o r n o t e d t h at the relationship between “China and Davao have truly blossomed.” Davao and China’s Jinjiang and Nanning cities have forged sisterhood ties. L o ca l of f icia ls f rom different parts of Mindanao and consular corps in Davao graced the dinner reception for PRC’s 70th foundation anniversary.

Romualdez assured Cimatu of joining “the minority in the proposals to support the department all out” in response to Abante’s assurance of the minority bl o ck’s supp or t to t he DENR’s appeal to increase its proposed 2020 budget “Kung hindi pa kayo masyadong Masaya dyan, andito po kami,” Abante said, responding to Cimatu’s appeal on the need to increase the proposed DENR P25.5 budget. For his part, Lagman said that “the independent m i nor it y w i l l j oi n t he majority” in pushing for the increase in the DENR’s budget. “Mr. Chairman. At the proper time, if the Majority in the Committee or at the Plenary would consider a justified augmentation of the proposed budget of the DENR, the independent opposition will join the majority in making this allocation,” Lagman said. The DENR—through Undersecretary for Policy, Planning and International Af fairs Jonas L eones— submitted to Congress the proposed augmentation budget of the agency last Sept. 16. In a letter addressed to House Deputy Speaker Luis Raymund Villafuerte, Leones said the DENR would need P1.2 billion for the establishment and initial operation of the proposed Enforcement Bureau in 2020. Leones said the agency would also need P1.8 billion for the full implementation of E-NIPAS law, and P36 million to fast track the issuance of titles for alienable and disposable public lands. According to Leones, the creation of an Enforcement Bureau within the DENR is in line with the Duterte administration’s 10-point s o cio economic agenda, p ar t ic u l arly p e ace and order, as it would enable the department to “fully implement and enforce laws on environment and natural resources (ENR) with full authority to police illegal loggers and ENR violators.” The DENR official also cited the need for “full logistic support” for t he i mpl e me nt at i on of the E-NIPAS law and the acceleration of public land distribution. “Still, under the 10-point agenda of the President, to be specific, is to ‘ensure security of land tenure’ to encourage investments and address bottlenecks in land management and titling,” Leones pointed out. The E-NIPAS law expands NIPAS Act of 1992 to cover broader range of protected areas (PAs) safeguarded under the law. The new law adds 94 more legislated PAs in the country, and bolsters the security of previously declared PAs. The law allows the DENR to strengthen the management of PAs, which are widely considered essential for

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In photo are Globe Chief Finance Officer Rizza ManiegoEala and Transcend Towers Director Jason Hirsch.

Globe inks MOU with American Tower Corp Subsidiary

Globe has signed a memorandum of understanding (MOU) with Transcend Towers Infrastructure (Philippines) Inc., a wholly owned subsidiary of American Tower Corporation, to build more towers in the Philippines. In support of the common tower initiative of the Department of Information and Communications Technology (DICT), the agreement will have Transcend Towers build an initial 150 sites for Globe in North Luzon. Globe Chief Finance Officer Rizza Maniego-

Eala said that American Tower Corp Subsidiary will play a critical role in improving the density of Globe’s sites in North Luzon. “There is a significant need to accelerate our infrastructure build for our customers to fully enjoy the benefit of a digital lifestyle,” Maniego-Eala said. This is the third MOU signed by Globe after ISOC Infrastructure Inc. and Malaysia-based tower giant edotco Group Sdn. Bhd. last June and Aboitiz InfraCapital, and Frontier Tower Associates Philippines (FTAP) last July.

biodiversity conservation. PAs are frequently home to irreplaceable and threatened species.

T h i s e nv i ron m e nt a l sustainability commitment a l s o e x te nd s to G l ob e customers and other stakeholders. Globe has enjoined its millions of postpaid customers to help save thousands of trees and reduce greenhouse gas emissions by enrolling their fixed and mobile accounts in the paperless billing program. In 2018, a total of 3.28 million subscribers or 76% of its postpaid subscribers have switched to paperless billing, saving an equivalent of 52.6 tons of paper. At the same time, Globe partnered with Hineleban Foundation since 2016 on the reforestation of 300 hectares of denuded primary rainforests in Bukidnon and Lanao del Sur. The program is structured over a 5-year period until December 2021. The reforestation efforts also involved customers by empowering them to donate 100 Globe Rewards points to have a tree planted on their behalf. Globe also helped reduce almost 2,400 metric tonnes of CO2 through its Project 1 Phone, an environment program focused on recovering and recycling a l l k inds of ele c t ronic wastes such as mobi le phones, laptops, desktops, computer peripherals, and other electronic gadgets. In 2018, the program recycled over 288,000 kg of electronic waste for a total of 856,000 kg since the program started in 2014. Proceeds from e-waste are used to build ICT-enabled and disasterresilient classrooms across the country.

Climate... from page 9

14001:2015), Occupational Health and Safety (ISO 45001:2018), and Business Continuity (ISO 22301:2012) assessed by BSI Singapore, Inc. Globe also complies regularly with the Environmental Impact Statement system of t h e D e p a r t m e nt of Environment and Natural Resources (DENR). With energy efficiency in mind, Globe has deployed a total of 6,314 green network solutions such as fuel cell system, lithium ion batteries, free cooling systems, and hybrid DC generator systems in 2018 almost double from 2017, to equip over 3,000 cell sites. Globe has also reduced GHG emission by 482 tonnes in 2017 and by 503.14 tonnes the following year. Globe will further upgrade its infrastructure to make it sustainable with increased resource-use efficiency and greater adoption of clean and environmentally-sound technologies to realize a 30% reduction of CO2 emission intensity based on 2017 levels. Meanwhile, to ensure that its generated hazardous wastes are disposed of properly, Globe has partnered with accredited DENR Treatment, Storage and Disposal (TSD) facilities and transporters nationwide for lead recycling, battery acid neutralization, re-refinement of used oil, physico-chemical treatment of grease wastes, among others.

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Plan... from page 4

later became the president, had trusted. In fact, you may have even visited this city. For the plans that Ben Banneker carried in his mind were for Washington, D.C., the capital of the United States. Did you know that your Maker has a brilliant and beautiful master plan for your life? He’s just been waiting for you to come home to Him, so with His help you can start thinking and living His way every day. Once and for all, won’t you ask Jesus to take full charge and begin changing your mind and heart? Then, you can start living the true, good life and plan that He custom designed for you. Just think a minute…

Wealth... from page 4

when conflicts arise. From my experience working with family businesses across Asia, there are generally common issues that are addressed in family constitutions: Balancing family and business issues Family member Entry and Exit rules Role of In-Laws Role of Active and Non Active Members Compensation, Dividend Policies Maintaining ownership control Mentoring a successor Enforcing compliance and accountability I n e v i t a b l y, f a m i l y enterprises without a Family Constitution will likely head to a crisis…it is just a matter of time.

Fintech... from page 12

mechanism that addresses t he ne e ds of a d ive rs e market. Complementing e x i s t i n g an d e m e r g i n g fintech initiatives, Diokno shares the National Retail Payment System (NRPS), the BSP’s flagship program for digital finance. “ T h e N R P S i s bu i lt on three core principles: interop erabi lit y, inclusiveness, and ‘c o o p e t i t i o n ,’” D i o k n o shares. “Through the NRPS, regulated institutions are required to adopt transparent and fair market pricing of electronic payments, transition from exclusive bilateral to multi-party clearinghouse agreements, and provide electronic fund transfer facilities in all available channels, among others.” The governor notes that the NRSP and the payment ecosystem envisioned to arise from it are positioned to become crucial platforms for further innovations. Through these, he says that industry players can utilize fintech solutions and provide services within an organized, commercially viable, and efficient retail payment system. Looking ahead: the future of fintech in the Philippines With strategic collaborations and gover nment supp or t at

hand, eCompareMo.com moves forward in the digital sphere with confidence. Now w it h ove r t h i r t y five financial institutions fortifying their inventory of financial services, the comparison portal wishes to consistently make its clients feel fulfilled as they make major financial decisions through their website. “Apart from giving them access to an ever-growing number of digital consumers, we have been providing technolog y solutions to financial institutions, among which digital onboarding is arguably the most significant to date,” says Stephanie Chung, Co-Founder and CEO of eCompareMo.com. “Our experience as a digital sales agency enables us to develop efficient, effective and compliant workflow systems to capture and process customer credit applications online. Our suite of solutions caters to financial institutions o f a ny s i z e , i n c l u d i n g cooperatives.” “There is a lot more to do and we are looking forward to sharing and celebrating these future milestones with everyone in the industry at the appropriate times,” Chung concludes.

Areas... from page 8

jeepneys will not drive them to bankruptcy. Mutually acceptable financial proposal “Ultimately, government w i l l have to prov i d e a mutually acceptable financial proposal to operators-drivers if it really wants the modernization program to succeed.” R i d on s ai d a m aj or component in an acceptable f inanci a l prop os a l is a larger government stake in acquiring new vehicles. “G ove r n m e nt’s f ive percent equity commitment or subsidy to acquire ne w vehicles is cle arly insufficient, particularly because this is an involuntary loan, which no one except government wanted. Worse, the subsidy is still capped at eighty-thousand pesos, while the prices of the modern jeepneys wildly vary to more than P2-Million.” Raise government subsidy Ridon said government should consider raising its equity commitment from ten to twenty percent. “Wit h ne x t ye ar ' s P 4 - Tr i l l i o n g ov e r n m e nt budget, a larger equity commitment to ensure the nationwide success of the modernization program is just a drop in the bucket.” Cut loan interest rates Ridon also said that the interest rates for the loans should now be adjusted, g ive n t h at t h e B ang ko Sentral ng Pilipinas had undertaken several interest rate cuts in as recent as last week. “Clearly, government’s financial proposal fro 2017 should now be updated to reflect current market conditions.”

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Bangsamoro region. "Among my advocacies is to make our country poliofree again and to make sure all will be vaccinated," Valenciano told reporters during his North Upi visit. His visit was also part of the buildup for the observance of the 30th anniversary of the Convention on the Rights of the Children in BARMM on Nov. 20, 2019, which will be led by the region’s social services office. (PNA)

AllHome... from page 3

target openings, AllHome Investor Relations Head Robirose M. Abbot answered in the affirmative, noting that they lease the property f r o m o t h e r Vi l l a r- l e d establishments such as VistaMalls and Starmalls. The fit-out for their stores only takes about three to four months.

Assures... from page 3

humans and therefore does not pose any risk to human health,” it added. Purefoods also noted it has products that do not contain pork, such as chicken hotdogs, nuggets, corned beef, among others. Earlier this month, the Department of Agriculture confirmed the first outbreak of ASF in the Philippines, after reports of an unusual number of pig deaths in backyard farms in Rizal province. The country has also banned pork and pork-based products from more than a dozen countries, including Vietnam, Laos and China.

Expansion... from page 3

their partnerships with Grabfood and on delivery of fresh coconut water boosting its sales. “In terms of the acquisitions and the introduction of new concepts, we are casting a wide net. In terms of targets, we are looking at food service in general. We are not limiting ourselves to food and beverage kiosks,” he added. Chua said they are also looking to establish two more food parks at a cost of P50 million, targeting Metro Manila or Luzon, up to 2021. Fruitas operates food parks in Quezon City--Uno Cinquenta in Maginhawa Street and Le Village, The Lifestyle Park in E. Rodriguez Sr. Avenue. “A number, at least a couple of our brands have grown through our food parks. Initially placed in our food parks, then we open in Metro Manila, then we open provincially. That’s a sort of roadmap for some of our new brands,” Chua noted. Fruitas has now over 20 brands in its portfolio such as Fruitas, Juice Avenue, Buko Loco, and de Original Jamaican Pattie and Juice Bar. Chua said the remaining P50 million it targets to raise from an IPO will be

earmarked for commissary expansion while the P150 million for debt repayment. Fruitas Holdings planned to offer up to 602 million common shares at a maximum price of P1.99 each to raise as much as P1.2 billion from an IPO targeted this November. (PNA)

TRAIN... from page 5

negative impact on government revenues, it increased excise tax on oil products and introduced excise tax on sweetened beverages and automobile. (PNA)

Fitch... from page 5

evidence of whether the economy is rebounding in H219 and whether its easing policy is having any impact of domestic credit conditions. “We hold onto our view the BSP will cut once again in 2020, primarily because we believe external headwinds will not abate, and as such the BSP will feel it necessary to reduce rates further,” it added. (PNA)

Bans... from page 1

for the African Swine Fever Task Force aid they have not detected any hog that got sick in Cagayan de Oro and Northern Mindanao. “It is more of prevention. We want to protect our hogs from being infected,” Araos said. Northern Mindanao along with Calabarzon and Central Luzon are the country’s top hog-producing regions in 2019. The three region accounted for 47.84 percent of the country’s total hog production of 649.68 thousand metric tons in 2017. Last September 11, the local government of Misamis Oriental also prohibited the entry of pork and pork products into the province. Araos said despite strict pork ban implementation, agr ic ulture technicians are wary that the highly contagious disease might enter through the Mindanao International Container Te r m i n a l ( Ta g o l o a n ) , Laguindingan Airport (Laguindingan), which are both located in Misamis Oriental, and the Macabalan Port in Cagayan de Oro. “There is still a chance that the viral disease can get through despite our strict monitoring,” she said. Cagayan de Oro spokesperson Maricel Rivera said Mayor Moreno signed the order after strong recommendations for a ban from the DA Region 10 and hog producers belonging to the Northern Mindanao Hog Producers Association. She said the order was written last September 25 but Moreno only signed it on Sept. 30. “ We m a d e a l o t of consultations but the hog owners and the DA region 10 made a strong appeal for the ban,” Rivera said. She s aid t he b an is temporary and does not

include hogs produced in Northern Mindanao which is estimated to be 196,000 metric tons annually. She said pork and pork products produced locally can still be sold in local groceries and restaurants.

Solar... from page 1

and Local Government for the design of the technical and financial plan for the solar-powered water supply and desalination plants for Mindanao villages. Under the Mindanao Rural Water Supply Program, the statement said Secretaries Emmanuel F. Piñol, chair of MinDA and Eduardo M. Año of the Interior and Local Government department have declared their support for the project, which will have initial funding of about $500 million which local government units (LGUs) can access from local banks. “We are designing a new scheme in the financing of LGU projects where they can access loan funds through a partnership between the foreign funders and local b an ks,” s aid Mr. Piñol after meeting with the representative of the LR Group, the Israeli company, last week to discuss the proposal. T h e s t at e m e nt s a i d the company offered to build 6,200 solar-powered irrigation systems, providing a financing scheme offering payments over 15 years with a 3-year grace period. The company demonstrated two prototypes in Lumban, Laguna, which can be monitored digitally and come equipped with a so-called “fertigation” system — supplying simultaneous fertilization and irrigation. It donated the prototypes when Mr. Piñol was still the Secretary of Agriculture. The rollout of the program, which is expected before the end of the year, will come after the financial and technical package is finalized. At that point LGUs of Mindanao and Palawan will be invited to join the program. The statement said Mr. Piñol identified water, power and rural infrastructure as the most urgent needs of the agricultural sector in Mindanao and Palawan.

Lauds... from page 1

already understood and have appreciated the advantages of the PUVMP,” Guro said, in reference to the transport groups who refused to join the strike. “It’s (transport strike) actually useless to take to the streets because this program, whether they like it or not, will be pushed through by the government,” he added. Guro said it is only now that the government is not intimidated by protest actions by transport groups as it is bent on implementing the PUVMP by next year. He said the groups who have participated in the transport disruption such as Acto, Piston and Pasang Masda have no members in the city. The National Confederation of Transport Union, the only collective that has members here, has previously signified that they will not join the strike, he said. Besides, Guro said, they will not hesitate to enforce the LTFRB memorandum circular that orders the revocation of franchise to any PUV driver or operator that will take part in a transport strike. Guro was referring to MC 2011-004 that states: “The PUV operator shall not resort to cessation of service as a sign or demonstration of protest against any government decision or action under pain of suspension or cancellation of the authority to operate granted by the Board nor shall the PUV operator tolerate, allow or authorize personnel to join other committing acts prejudicial to the riding public including, but not limited to paralyzing transport services by intimidation, coercion or violence,” “I want to remind them that the franchise is a privilege granted to them by the government, and if resort actions that would convenience the riding public, then we have the power to revoke that franchise,” he said. Those who did not operate Monday will have to explain to the LTFRB the reason why, he said. “If their excuse why they were not able to operate during the date of the transport strike is justifiable, then we will consider it. But if their reason is not justifiable, then we will be forced to revoke their franchise,” Guro said.

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FEATURE

IN-DEPTH

Wednesday|October 2, 2019

12

At Roundtable 1 discussion with moderator Vince Rapisura, President and Founder of Social Enterprise Development Partnerships, Inc. (SEDPI) together with panelists: Pia Roman-Tayag, Managing Director, Center for Learning and Inclusion Advocacy (CLIA); Mags Vasquez-Surtida, FVP, Cards Business Group Head, Asia United Bank; Harvey Libarnes, VP-Financial Service Head, Smart Communications Inc.; Hamilton Angluben, General Manager, Cashalo and Stephanie Chung, Co-Founder & CEO, eCompareMo.

FINOVATION 2019: Fintech players as strategic partners toward greater financial inclusion M

ANILA, Philippines – Staying ahead of the innovation curve, leading online financial marketplace eCompareMo.com, through its parent company C88 Financial Technologies, Inc., partnered with global consumer credit reporting company Experian in 2018. This tech-driven collaboration has allowed eCompareMo.com to evolve from being a product-focused price comparison website to a customercentric underwriting marketplace. J.P. Ellis, Co-Founder and Group CEO of C88 Financial Technologies, Inc., highlights this partnership as he discusses their new digital onboarding family of products at Finovation 2019: Real Problems, Real Solutions. Held last September 25, 2019, at the Rigodon Ballroom of the Manila Peninsula, the annual fintech forum gathered key stakeholders from the banking and insurance industries, regulators and policymakers, cooperatives, and fintech players. Finovation facilitated thought leadership to generate relevant solutions for increased financial inclusion, focusing on improving credit access among financially underserved Filipinos. Digital onboarding: a pioneering effort Through its partnership with Experian, eCompareMo.com enables digital applications, onboarding, and decisioning for banks and financial institutions. This covers basic identification, verification, information gathering, and documentation, making a full online application possible. Believing that Manila is a prime hub for digital transformation, Ellis believes that digital onboarding is a perfect fit for the country, bringing

in a variety of benefits for both consumers and issuing financial institutions. “Digital onboarding represents the next generation of our platform,” says the group CEO in a media interview during Finovation. “It is a sequence of fintech steps through which financial institutions can acquire customers, validate, score, and underwrite them.” Likening the process to Lego blocks, Ellis explains that digital onboarding can be constructed depending on either the customer’s profile or the product being acquired. The process, he emphasizes, makes the customer experience more native and convenient; on the other hand, expediting financial transactions digitally helps curb costs and processing time for financial institutions. Government support and partnerships for fintech The Bangko Sentral ng Pilipinas (BSP) actively supports initiatives like digital onboarding, recognizing fintech players as key partners for financial inclusion. In his keynote speech for Finovation, BSP Governor Benjamin Diokno emphasizes that the country’s central bank adopts an open and flexible approach to financial innovation. The governor notes that fintech plays a crucial role in strengthening inclusion, an agenda in line with the BSP’s policy objective of building an accommodating financial system for more Filipinos. Taking on a forward-looking approach, Diokno raises the challenge of promoting fintech while simultaneously planning regulatory procedures for upcoming innovations. In this way, the digital financial ecosystem of the future becomes a safe, secure, affordable, and convenient FINTECH/PAGE 11

(L-R) Richard Lauder, Senior Vice President for Finance, C88 Financial Technologies Inc.; Ched Limson, COO, eCompareMo; Stephanie Chung, Co-Founder & CEO, eCompareMo; Benjamin Diokno, Governor, Bangko Sentral ng Pilipinas; J.P. Ellis, CoFounder & Group CEO, C88 Financial Technologies, Inc.; and Patrick Chua, President, Snapcompare Corp.

(L-R) J.P. Ellis, Founder & Group CEO, C88 Financial Technologies, Inc.; Simone Colombara, Managing Director, CRIF Corporation; Marty Gonzalez, Head of Integrated Solutions Group, TransUnion; Atty. Aileen Amor-Bautista, Credit Information Corporation; Marlo Cruz, President and CEO, CIBI Information Inc.