BusinessWeek Mindanao (October 25-26, 2016)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 063

Market Indicators

As of 6:10 pm october 25, 2016 (tuesday)

FOREX

PHISIX

US$1 = P48.317

7,580.22

X

2.3 cents

29.09

X

points

Briefly Pilmico expansion THE expansion efforts of Pilmico Foods Corp., the food subsidiary of listed conglomerate Aboitiz Equity Ventures (AEV), is now more focused on growing its export business as part of its strategy to adjust with ASEAN integration, which somehow left them with no choice but to look for markets elsewhere. Florencio Sebandal, Pilmico Vice President for Operations for Iligan, said the more liberalized ASEAN free trade caused more imported food products to gain foothold in the country, prompting local companies like Pilmico to expand its export business. ASEAN Economic Community (AEC), which started in 2015, involves an established common market among some of the ASEAN countries, including the Philippines.

Sugar tripartite body MALAYBALAY City -The Bukidnon Provincial Field Office (Buk PFO) of the Department of Labor and Employment (DOLE) conducted the 3rd Quarter District Tripartite Council (DTC) meeting, participated by the different sectorial representatives in the sugarcane industry on 6 September 2016 in Malaybalay city. Buk PFO Head Raul L. Valmores said that the DTCs were created by the Secretary of Labor upon the recommendation of the Sugar Tripartite Council (STC) in each milling district of the country. “The creation was to ensure greater participation by its planters, millers, and workers in the social and economic programs in the sugar industry, and in policy determination,” he said.

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Duterte: Japan’s visit focused on Mindanao www.businessweekmindanao.com

By ANTONIO L. COLINA IV, MindaNews

M

INDANAO will be the “central focus” of President Rodrigo Duterte’s three-day state visit to Japan.

In his message before departing at the Ninoy Aquino International Airport

on Tuesday, Duterte said he will give focus to Mindanao as he stressed that “together

Tue-Wed | October 25-26, 2016

with Japan, we shall seek to put on track this island region towards a just and lasting peace and development.” The president said he will use the trip to obtain more high impact projects that will benefit the Philippines, visit/PAGE 15

FLOWERS’ANYONE? A worker at the King Toto Farm of the Puentespina Orchids & Tropical Plants in Barangay Carmen, Baguio District, Davao City hauls newly-harvested chrysanthemums on Monday, Oct. 24 ahead of the All Souls Day next week. MindaNews Photo by Ruby Thursday More

Electricity market needed for expected surplus in Mindanao By ANTONIO L. COLINA IV, MindaNews

DAVAO City -- Mindanao needs to have an electricity market next year to address the looming power oversupply

next year due to the entry of new coal plants before the end of this year. Mindanao Development

Authority (MinDA) officerin-charge Glenn Reston told reporters during the Energy Smart Mindanao 2016 at the Park Inn by Radisson Davao surplus/PAGE 15

Passage of law on banana industry development pushed By ANTONIO L. COLINA IV, MindaNews

BIG banana players in Mindanao will push for the passage of the Comprehensive Development Act for Banana by asking Davao del Norte Rep. and House Speaker

Pantaleon Alvarez to sponsor the bill. Philippine Exporters Confederation (Philexport) 11 president Ferdinand Marañon told MindaNews that they law/PAGE 15

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P15.00

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tue-wed|october 25-26, 2016

Cagayan de Oro Council to start deliberation of 2017 budget

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HE 18th Cagayan de Oro City Council will soon start deliberation of the 2017 executive budget. In his budget message, Cit y Mayor Os c ar S. Moreno cited that the city’s projected budget for next year is P5 billion for both the General Fund and Special Account/ Operation of the city’s economic enter prises in the amounts of P4,621,842,141 and P378,157,859,

respectively. Out of the P5 billion budget, 32-percent or P1.60 billion is earmarked for General Public Services, which will be used for programs that will promote order and public safety and for the Judiciar y, for administrative overhead and for the regulatory functions of the city. Meanwhile, 31-percent or P1.289 billion is allotted for social services, which is

grouped into two: Health, Nutrition and Population Control and all other services are under Social Security, Social Services and Welfare. The city is allocating P921,806,328 or 59-percent of the total social services allocation for he a lt h , nut r it i on and hospital ser vices. Based on the budget, this includes the Philhealth Indigency Program in the amount of P240,000,000 for 100,000 beneficiaries,

and the complementary Point of Care program totaling P50,000,000 for 20,800 enrollees, among others. Under social security, social ser vices and w e l f a re , t h e a m o u nt of P643,427,109 has been earmarked for the deliver y of social services and welfare and administrative support services under this sector. The city is allocating P1,817,040,8978 for economic services. Out of the amount, P53,455,093 is budgeted for agriculture

ser vices, P27,461,313 for veterinary services, P53,149,402 for environment and natural resources, P112,658,970 for the operation and maintenance of the City Engineering Office and P91,919,908 for the City Equipment Depot. Ac c o r d i n g t o t h e mayor, the objectives of the city next year is to provide affordable but quality social ser vices, education, health, adequate shelter assistance, employment opportunities,

agricultural and fishery extension services. He cited that the city also expects to provide sustainable job generation and employment opportunities by strengthening the Public E mp l oy m e nt S e r v i c e Office, provide capability building geared towards the development of micro and small enterprises and strengthen its capability to prepare, mitigate and respond to calamities t h rou g h it s D i s a s t e r Risk Reduction and Management Team. (SP)

RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide Talakayan sa PIA on October 20, tackles Fish Conservation Week celebration starting Oct. 16-22 with Bureau of Fisheries and Aquatic Resources - Region 10 Director Visa Tan-Dimerin (left) and Asuncion J. Maputol (center), chief, Fisheries Management Regulatory Enforcement Division as guest. This year's celebration aims to promote clean waters in response to the need to conserve and protect the country's fisheries and aquatic resources as mandated under the Fisheries Code of the Philippines or RA 8550. (Rodolfo Mendoza/PIA10)

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

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

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

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

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wednesday|october 26, 2016

Globe: 11 Lawin-related SMS alerts sent out to customers in Northern Luzon Globe Telecom transmitted a total of 11 text messages, warning customers of potential dangers coming from typhoon Lawin in compliance with what is prescribed by law. According to Globe Senior Vice President for Corporate Communications Yoly Crisanto, transmittal of the text messages was undertaken in coordination with the National Disaster Risk Reduction and Management Council (NDRRMC) at no cost to consumers. “Globe will continue to support government initiatives specially in using our network to disseminate information to help ensure the safety and security of our customers,” Crisanto said. Taking exception to claims made by Sen. Grace Poe that were relayed to the press on Sunday, Globe said 9 of the total 11 text messages directed to customers in Northern Luzon were sent out prior to the typhoon’s landfall while 2 SMS blasts were released after the landfall. NDRRMC crafted all the messages and relayed to Globe for transmittal, Crisanto said. Globe sent out the initial text message at around 11:29 am on Wednesday, October 19, to more than 1.5 million mobile numbers. The text message read as follows: “TY LawinPH severe danger over Cagayan, Isabela, Kalinga, Ifugao & Mt. Province, Moderate to heavy damage. Evacuation is advised. On the other hand, the last message,

which was sent out to around 3.5 million customers at around 8:15 am last Thursday, October 20, read as follows: Typhoon Signal #3: STY #LawinPH severe danger over La Union, Benguet, Nueva Vizcaya, Quirino and Northern Aurora in 18 hours. Moderate to heavy damage. Stay in safer evacuation areas.” Crisanto said the mobile disaster alerts sent by Globe includes critical information that communities at risk can use to prepare for and respond to disaster. The alerts were directed to customers in Cagayan, Isabela, Apayao, Abra, Ilocos Norte, Ilocos Sur, Mt. Province, Kalinga, Ifugao, and Calayan group of islands. Separately as part of its #StaySafePH advocacy, Globe Telecom’s prepaid brands namely Globe Prepaid and TM also sent out SMS messages, reminding customers of precautionary steps prior to the typhoon’s landfall. Within 24 hours of the typhoon’s landfall, Globe was able to restore telecommunications services even in the areas badly hit by the typhoon. With mobile signal and internet services fully available, the company immediately provided Libreng Tawag, Libreng Charging and Libreng Internet services in 46 areas. On top of the free services, Globe deployed relief operations in 4 areas namely Ilagan City, Isabela; Tuguegarao City, Cagayan; Vigan City, Ilocos Sur and Laoag City, Ilocos Norte.

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Opinion

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wednesday|october 26, 2016

Europe’s problems

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

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Making up for the past Think a minute…Some time ago I read in the newspaper about a father who had killed his 10-year-old son because his school report was not good enough. The father was so angry that he reached for the nearest thing, a steel rod, and hit his son on the back. His 10-year-old little boy was killed instantly. Can you imagine the pain and regret that father lives with! We all have regrets, and the feeling that we want to make up for the wrong we’ve done. Yet we know that in most situations we can’t. Sometimes we can repair the damage. We can pay a debt that’s long overdue. We can return the money we cheated or stole from somebody. But most times it’s simply impossible to make up for what we’ve done wrong. Like beating and cursing your child in a moment of anger. No candy or toy can make up for how we hurt even destroyed their trust in us. Think of the man addicted to alcohol, drugs, or kava, or has adulterous affairs, putting his wife and children through years of pain, lies, and violence. Yet even if he finally does stop drinking or having affairs, how can he ever erase or make up for all the hurt and damage he caused? How does the mother who had an abortion forgive herself and get free from her guilt?

THINK

A Minute

Jhan Tiafau Hurst So we can’t always repair the damage we’ve caused, no matter how much we try, not even through religion! That’s why Jesus Christ, Who was not guilty of any wrong, gave His own innocent life to free you and me from all our wrongs and guilt. The only way we can make up for all the wrong we’ve done is by asking Jesus for His free gift of forgiveness and new life which He paid for with His own life. It’s true that you cannot change your past, but Jesus can start changing your life now. If you ask Him to take control of your heart and character every day, He will give you a new life by helping you change with His love and power. Even with all your past failures and wrongs, your Maker will still give you another chance. So why not ask Him today? Just Think a Minute.

Germany reforms its main intelligence service! This headline surprised me and many others too in whole Europe. How comes? The German parliament has subjected the country’s intelligence service, the BND (Bundesnachrichtendienst), to increased government scrutiny. But critics object that it also gives the BND wide-ranging new powers to spy on foreign nationals. Germany’s lower house of parliament, the Bundestag, has passed a comprehensive reform of the country’s main intelligence ser vice, the BND. The new legislation strengthens government monitoring of intelligence activities while explicitly allowing the BND to carry out certain types of surveillance activities. The reform comes in the wake of the 2013 revelations by American w hist le-blower E dward Snowden that a number of national intelligence s er vices, including t he BND, had spied on behalf of the US National Security Agency (NSA) and that the NSA had spied on its allies. That prompted the formation of a German parliamentary committee to draft intelligence agency reforms. T he ne w l e g isl at i on subjects the BND to monitoring by an “independent panel” of two judges and a federal prosecutor and a “permanent commissioner” from the Interior Ministry. It stipulates that surveillance of international communications networks must be authorized by the

Chancellor’s Office rather than by the BND itself and explicitly prohibits economic and industrial espionage. The new laws also provide for better protection for whistle-blowers within intelligence services and subjects the BND to annual public hearings instead of private ones, as has been the case. The reforms also explicitly allow the BND to direct espionage operations at EU institutions and other EU member states, if they are aimed at gat hering “information of significance for [Germany’s] foreign policy and security.” The reform also permits the BND to cooperate with foreign intelligence services like the NSA if it serves specific purposes, including fighting terrorism, supporting the German military on foreign m i s s i ons or c ol l e c t i ng information concerning the safety of Germans abroad. T h e l e g i s l at i on w a s passed with the votes of the governing ConservativeSocial Democratic coalition, which said that the reforms address the concerns rais ed by t he Snowden leaks while allowing the BND to use 20th century means to ensure Germany’s security. “How else is the BND supposed to protect us against terrorism other than listening in on conversations between people outside of Germany?” said Clemens Binninger of Chancellor Angela Merkel’s Christian Demo cratic Union, the chairman of the Bundestag’s NSA parliamentary committee. D o we have to d e a l

with so-called Extra-legal spaces? Former Justice Minister Sabine LeutheusserSchnarrenberger tweeted, “Unconstitutional BND law: I’m consulting with my colleagues at the FDP (Liberal Democratic Party). But what matters more? Or even most? EU leaders h ave e n d e d a Br u ss e l s summit without agreeing on a free trade deal with Ottawa as Belgium’s region of Wallonia refused a last m i nute of fe r. C ana d a’s trade minister said the deal was “impossible” at the moment. Tensions were high in Brussels on Friday (yesterday, write this piece on Saturday, October 22, 2016), after the government of Wallonia refused to budge on CETA (Comprehensive E c o n o m i c a n d Tr a d e Agreement) despite massive pressure from Canada, the Belgian government, and the overwhelming majority of EU officials. Ottawa’s representative Chr ystia Freeland blasted the EU as incapable of resolving the impasse, saying her country was “disappointed.” “It seems evident for me and for Canada that the Europ ean Union is not now capable of having an international accord even with a country that has values as European as Canada, even with such a kind, patient, country,” the trade minister said in the Belgian city of Namur. The parliament of the 3.5 million-strong region voted against the so-called CETA last week , blocking the deal near the very end of the seven-year negotiation

H ave M y Say

Klaus Doring

procedure which aimed to cancel 98 percent of trade tariffs between EU and Canada. The Canadian P r i m e M i n i s t e r Ju s t i n Trudeau was to travel to Europe and sign the deal on the 27th of October. Romania and Bulgaria were also opposed to the deal, but decided to get on board in exchange for visafree travel to Canada from 2017. Wallonia, however, still holds out against it, with its lawmakers concerned about CETA lowering Europe’s health standards, hurting small farmers, and giving big business power to force governments to change laws. Also, CETA is seen as a probe for a much larger deal with the US, with citizens a c r o s s Eu r o p e v o i c i n g similar complaints. C E TA a l s o f a c e d a challenge in Germany’s Constitutional Court, but was deemed to be in line with German law just over a week ago. Europe is dealing with a lot of problems on all sights, while this nation Philippines is facing a lot of changes. For the good or the better? Future shall show us.

Davao City driver: beauty of a humble heart LIFE’S INSPIRATIONS: “… `But the things that come out of a person’s mouth come from the heart, and these defile them’…” (Jesus Christ, our God and Savior, in Matthew 15:18, the Holy Bible). -ooo THE BEAUT Y (AND BENEFITS) OF A SINCERE AND HUMBLE HEART: D on’t lo ok now but it became quite clear to me, on Saturday, October 22, 2016, that President Duterte would not be the only source of rightful pride among residents of Davao City nowadays. Even a simple van-forhire driver like Manuel Toniacao is making Davao City truly proud, not with g randios e p osit ions or fabulous wealth, but with a delightfully humble and sincere heart that is willing to sacrifice just to keep the integrity of his work and his customers satisfied. You see, a friend of his arranged that Manuel would be acting as the driver of the van that would take us to a wedding and to the subsequent reception which was supposed to be

participated in by President Duterte, no less. We agreed with Manuel’s friend that I would be charged P1,100.00, for transporting me, my wife, Judge Angelina Mauricio, and our daughter, Atty. Luisa, from our hotel, to the church, to the reception, and then back to the hotel. -ooo DRIVER WILLING TO SACRIFICE FOR H I S PA S S E N G E R S : Unfortunately, the reception took all of four hours to complete, which, unknown to me, was way, way beyond the carbarn time for the van. When Manuel was taking us back to the hotel, his bosses called him, and told him that I should be made to add P1,400.00 more as our fare (or a total of P2,500.00) for the length of time he and the van waited. He asked me to talk to his bosses, and, of course, I insisted on paying only the amount that I agreed to pay, which is P1,100.00. The bosses refused to accept my payment, compelling me to say I am not paying the added amount. A few minutes later, Manuel received another call from his bosses, where I

heard him talking in Visayan. I did not fully understand what he was saying, but I got the drift: to avoid f u r t h e r c ompl i c at i ons , Manuel decided that he would be the one to shoulder the additional P1,400.00, certainly a big amount for him, which he would be able to pay by appropriate deductions from his 13th month pay in December. -ooo GOOD HEARTED AND DEDICATED WORKER: When I asked w hy, he said that although he was supposed to return the van at 5 pm, he did not do so because my family and I were still at the reception. He chose to simply wait for us. “It was my work at stake,” Manuel said. All the while that he was talking to us, he was calm, respectful, without raising his voice one bit. When I fully understood what he was trying to do, something snapped in my heart. I thought then that a good-hearted and dedicated worker like him should not be penalized for upholding the dignity of his work, and for looking after the comfort and welfare of his customers.

K ak ampi

Mo A ng Batas

Atty. Batas Mauricio -ooo THERE IS STILL MUCH GOOD AMONG FILIPINOS: Then and there, I handed him P3,000.00 to cover the transport fee, plus a little extra for his display of his beautiful character. When he tried to refuse the added money, I told him, it was my way of thanking God, because He showed me, by his example of humility and willingness to sacrifice, that there is still much good left in the heart of many Filipinos. If you are travelling to Davao City, it may be worth your while to call Manuel, so he can be your driver. His number is 0946 006 0299. Thank God in the Name of Jesus.

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tuesday|october 25, 2016

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tuesday|october 25, 2016

International Travel Bloggers explores Cagayan de Oro

This year, Travel Blog Exchange, also known as TBEX, held its annual conference in our very own country, Philippines. Different travel bloggers and writers from around the world gathered for this event since it is the world’s largest conference of new media content creators and social media savvy travel industry professionals. Every single year, TBEX partners with fantastic destinations around the world to bring the travel industry’s

most creative minds together to learn, network and do business. Held on the 13th to 16th of October in the Philippines International Convention Center, this three-day conference was known to have brought the travel industry’s most creative minds together to learn, network and do business. After the conference, the delegates were assigned to groups for the post-trips. Each

group was given a province in the Philippines intended for them to explore and blog about. Along with the representatives of the Tourism Promotions Board Philippines (TPB PHL), a group of TBEX travel bloggers and writers arrived last October 18, 2016 in the City of Golden Friendship for the last leg of their trip. The eleven international and local travel bloggers were then hosted by the city’s premier hotel, Limketkai Luxe Hotel, where they were warmly welcomed by the hotel’s very own general manager, Mr. Jerome F De La Fuente. The following day, the passionate bloggers woke up early for a full day tour around the city. They started out with Cagayan De Oro’s famous extreme

outdoor activity–white water rafting. They then went to various museums to learn more about CDO’s heritage and culture. After a really long day of fun activities, the bloggers were given time to rest at the Hotel while the award-winning team of chefs prepared for their sumptuous dinner buffet. The dinner event was held at the Sapphire Function room of Limketkai

From left to right: Joanne Cuento (TBP), Wilven Pinili, Leslee Rosales, Mylene Sison, Jerome De La Fuente (General Manager), Joanna Abrera (INTAS Travel), Elen Turner, Kenneth Surat, Hanna Sobczuk, Yuki Ng, Antoine Le Guen, Violette Vauchelle, and Milo Dahilan Jr.

Luxe Hotel and upon entering, you will be able to see the widearray of Filipino food ready for consumption. The Hotel’s chef-decuisine, Chef Benje Gavoila and his team, prepared interesting yet delectable dishes and desserts for the bloggers to try such as Ostrich Salpicao and Crocodile Adobado In Coconut Milk as well as Marang Velvet Coffee Cup. Additionally, Gouda cheese and white cheese from the neighboring municipality, El Salvador. The dinner event was also graced by the Department of Tourism Region 10’s Regional Director Catalino Chan III who thanked the eleven

delegates for being part of the event and for visiting the city. He also encouraged the bloggers to share to their readers and followers that Northern Mindanao specifically Cagayan de Oro is a beautiful and peaceful city to visit. Mr. De La Fuente also made a short speech and stressed the need to promote Cagayan de Oro as a destination hub and gateway to Northern Mindanao. For more information, you may call us at +63(88) 880 0000. Stay updated with our latest promos by following us on our Facebook Page (Limketkai Luxe Hotel), Twitter & Instagram (@ Limketkai_Luxe).

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tue-wed|october 25-26, 2016

Aboitiz expanding in Southeast Asia; sets P58-B capital outlay for 2017 P H I L I P P I N E conglomerate Aboitiz E q u i t y Ve n t u r e s Inc. (AEV) is aggressively expanding its food business to five geographic markets in Southeast Asia while gearing up to enter the Indonesian power sector to support its continued growth. A EV S e n i or Vi c e President and Chief Financial Officer Manuel Lozano said its food subsidiary, Pilmico Foods Corporation, has been exporting flour to Hong Kong, Vietnam and Indonesia. Lozano said they are keen to add Malaysia and Myanmar as the export destinations for its flour products. “And hopefully, (we are) looking for acquisitions and investment opportunities in these markets as well. Flour is the first; we look to do that for feeds as well in these same markets,” he told reporters in an interview. Pilmico two years ago acquired a 70-percent stake in Vin Hoan 1 Fed JSC (VHF), one of the largest aqua feed producers in Vietnam.

“We were also able to invest in Vietnam, in aqua feeds business, so we hope to capitalize on that presence to do more (business) in Vietnam,” he said. Pilmico is primarily engaged in the manufacture and sale of flour, feeds and their by-products. Lozano said the conglomerate is establishing representative offices in some of the Southeast Asian countries which will conduct m a r k e t i n g o p e r at i o n s , determine the areas where product demand will come from and when it will start increasing exports to these countries. Apart from its food business, Lozano said it is working to penetrate the Indonesian power sector. “We are looking at a couple of projects in Indonesia; we are looking at geothermal and hydro,” he added. “We are doing feasibility (study) for the geothermal. Hopefully, within the next few months, we will get the results already. If that’s good, then we will probably start investing in that project.” Lozano believes that

Indonesia has growing re qu ire me nt s in te r ms of food, power as well as infrastructure. The conglomerate is taking advantage of the huge business opportunities of fered by t he ASEAN integration, considering it is a market of more than 600 million people, he noted. “So if you can expand your market beyond the Philippines and target the 600 million, and you have the right products, the right business, then that can be quite a boost to our expansion,” Lozano said. “We have a big balance sheet already where we can start to look beyond (Philippines) but at slower pace,” he added. Capex for 2017: P58B Meanwhile, the conglomerate is earmarking over P58 billion in capital expenditures (capex) in 2017, almost the same level for this year, the bulk of which will be used for its power expansion projects. “The power [business] will still be the biggest because we still have a lot of projects that are ongoing,”

Lozano said, noting the power business will receive three-fourths of next year’s capex. He said the remaining amount will be earmarked for its property and cement businesses. “We have a lot of cash, most of if it is internallygenerated cash. Most of the power plants have already been funded, we already have loans since they started. And we already allocated equity,” he added. Lozano said next year’s programmed capex is apart from capital funding for acquisitions. F u r t h e r, L o z a n o i s optimistic about continued business growth despite the recent political noise. “The economy continues to be growing, we still see remittances, we still see BPO (business pro cess outsourcing) investments, we still hear people talking about bringing in FDI (foreign direct investments) into the Philippines. Most of the (economic) fundamentals that were positive in the past continuous to be positive today,” he added.

Liberty Telecoms gets penalty for non-disclosure of frequency deal L I B E RT Y T E L E C O M S Holdings, Inc. is facing a fine totaling P346,000 for withholding information surrounding the reassignment of frequencies from the investing public. In an assessment letter dated Oct. 20, the Securities and Exchange Commission (SEC) ordere d L ib er t y Telecoms to satisfy the monetary penalty within five business days following the receipt of the directive. The company received the assessment letter on the same day, after trading on the Philippine Stock Exchange closed. A copy was furnished to the local bourse on Friday. The SEC, through its Markets and S ecurities Regulation Department (MSRD), imposed the fine for the listed company’s omission to state a material fact in any filing required by the corporate regulator. Su c h a v i ol at i on i s penalized with P100,000 for the first offense plus P500 for each day of continuing violation. The SEC, at the same time, reprimanded Liberty Telecoms for non-filing of current reports; incomplete quarterly reports for the entire 2015 and the first three months of the current year; and incomplete annual report. The MSRD effectively concluded that Liberty Te l e c om s s h ou l d h av e disclosed the transfer of the

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CorporateWorld

723-738/778-793 megahertz and 2555-2595 megahertz bands from wholly owned subsidiary Tori Spectrum Telecom, Inc. to associate Bell Telecommunications, Inc. The liste d comp any transferred the frequencies in line with the plan of its parent Vega Telecom, Inc. to establish the country’s third telecommunication player. The reassignment of the frequencies was approved by the National Te l e c o m m u n i c a t i o n s Commission (NTC) on March 17, 2015. The corresponding Frequency Assignment Sheets were issued to BelTell six days thereafter. “[T]he information or the fact of the reassignment is already considered a material fact which would reasonably be expected to affect the investors’ decisions in relation to LIB securities,” the assessment letter read. L ast month, Liberty Telecoms explained the circumstances surrounding the reassignment of the frequencies occurred prior to the acquisition of Vega Telecom by PLDT, Inc. and Globe Telecom, Inc. from San Miguel Corp. (SMC) in a P69.1-billion transaction on May 31. The new Liberty Telecoms management had said in a Sept. 14 disclosure that it has “no personal knowledge on the foregoing subject matter.” The regulator’s concerned

department, however, found no merit in the explanation “due to the fact that this is a cor p orate liability and on the basis that the company should be made liable for all its corporate acts, notwithstanding that there was a change in

management in accordance with the principles of business continuity and succession.” SMC, meanwhile, argued the definitive agreements necessary to implement the unified rollout plan that entailed the reassignment penalty/PAGE 15

RESORTS, HOTEL & RESTAURANTS DIRECTORIES

A PUBLIC SERVICE BY:

Algen’s Dive Resort (088) 3872015

Pryce Plaza Hotel 8583131 Fax: 726687

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

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

Bahay Bakasyunan sa Camiguin (088) 3871057 / 3870131 Fax: 3870278 Basamanggas Resort 08822-760564 Fax: 760565 Cagayan Riverview Inn 8584245 / 729039 Fax: 8584245 Casa Crystalla 8561704 / 722465 Fax: 722480 Casa Isabella (088) 8564065 Casa Azucena 8563402 / 09236593973 Chali Beach Resort 732840 / 8552108 Fax: 8555941 Chananthon Bed & Breakfast 8568189 / 3093095 Country Village Hotel 8583004-06 Fax: 8583006 D’Budgetel 8564200/726643 Fax: 8564300 Dahilayan Forest Park 8568562 to 63 De Luxe Hotel 8572144 / 724548 Fax: 724563 Discovery Hotel 727814 / 8563896 Fax: 8563897 Duka Bay Resort (088) 3312290 Fax: 725265 Dynasty Court Hotel 8574802 Fax: 857900 Grand City Hotel 8571900 / 728469 Fax: 723718 Hotel Conchita 8563856 / 727355 Fax: 8563857 Hotel Koresco 8589749-50 Fax: 8589748 Hotel Sogo 8520383 Kingston Lodge 8585696 Fax: 8585696

Seda Centrio Hotel 3238888 / 0917-577-5910 Southwinds Hotel 724803 / 8562036 Fax: 8562036 Stargate Dream Vacation Resort 8515003 / 8509999 The VIP Hotel 726080 / 8562505 Fax: 726441 RED PLANET 8800888/8801306 Travelers Pod 8518988 Uptown Condotel 8511800 Villa Paraiso Apartelle 3870419 Fax: 3870429 HONORARY MEMBERS: Dept. of Tourism 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: Bigby’s Café 72-1071/857-5511/8575836 Fax: 711843 Café Laguna 8582999 Fax: 8567001 DM Villaruy Restaurant 733790 Golden Ajirang I 856-5271 Fax: 727876 Grand Caprice Restaurant 72-6955/856-2302 Fax: 72-4986 Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003 La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605 Missy Bon Bon 8566852 / 09228606442 Fax: 8566852 SLERS Ham & Café 8551438

Mapawa Natures Park 8584402 Fax: 725265

Thai Me Up 738424/3108424 Fax: 738424

Mallberry Suites 8541999 / 7249999 Fax: 8544999

Barkadahan Grill 8551234

Maxandrea Hotel 8572244/729943 Fax: 724090

La Tegola Cucina Italiana 8585959

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

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

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tue-wed|october 25-26, 2016

Globe rolls out fiber broadband internet connection in public schools

L

e a d i n g telecommunications company Globe Te l e c om ro l l s out it s fiber broadband internet connection in public schools to encourage adoption and application of technology among students and teachers in line with the company’s vision of ushering the Philippines into becoming a digital nation by 2020. The initial recipient of Globe fiber connectivity with speeds of up to 100 mbps is Manila Science High School (MaSci), the first pilot science high school in the Philippines located in Taft Ave., Manila. It is one of the schools under Globe Telecom’s Global Filipino School (GFS) program, a longterm educational initiative designed to transform select public schools into centers of excellence in Information and Communications Technology (ICT) and innovative teaching methods. As a GFS, MaSci enjoys free internet service; ICT tools for learning such as tablets, netbooks, projectors, and a mobile cart; and teacher training on how to maximize technology in the classroom.

MaSci Batch 91, on the other hand, will provide a collaborative working space in the school. “ Wi t h t o d ay ’s f a s t paced advancements in technology and ever changing educational landscape, we would like our schools to take advantage of the best educational information and services that they can get. If all local government units will work with us to realize our vision of developing connected communities, other GFS schools aside from MaSci would likewise be able enjoy the enormous b enef its of hig h-sp e e d internet such as higher download and upload speeds, lower latency, and faster internet browsing which bring dynamic resources into the classrooms,” said Martha Sazon, Globe Senior Vice President for Broadband Business. There are, at present, 80 schools under GFS impacting more than 7,000 teachers and 40,000 students around the country with 60 more GFS schools to be launched next year. Globe aims to share the GFS Program to all 221 DepEd divisions by 2020.

Globe Telecom and Manila Science High School (MaSci) Silver Jubilarians (Batch 1991) showcase their collaborative efforts to make MaSci a Global Filipino School. MaSci is a recipient of Globe Telecom’s fiber broadband internet connection. (L-R): Martha Sazon, Globe Senior VP For Broadband Business, Atty. Laura C.H. del Rosario and Ma. Margarita U. Baula , Masci ‘91 25th Alumni Homecoming Steering Committee Representatives; Dr. Dante Bermas, Education Program Supervisor, DepEd Division Office of Manila; Eva Nacion, MaSci School Principal.

A 2015 study released by Taylor Nelson Sofres, shows how the GFS program was able to improve digital skills among teachers and students, particularly on usage of mobile technology and computer software;

enable 21st Centur y Learning Outcomes such as creativity, communication, collaboration and creativity; increase student engagement in classroom activities; and enhance school culture through readiness in ICT

i nt e g r at i on . For m ore information on how you can contribute to the program visit www.globalfilipinoschools. com, TEXT GFS to 21580437 for donations, or email bridgecom@globe.com.ph for partnership opportunities. Early this year, Globe appealed to local government units to support the deployment of fiber optics in 20,000 barangays by 2020,

which will provide ultra-fast internet access to around two million homes nationwide. Parallel to this, Globe will also pour significant investment in capacity enhancement for both mobile and wireline using different technologies that include 3G, LTE and even Wi-Fi. The city government of Manila, led by Mayor Joseph Estrada, was the first LGU to respond to the call.

Fuel up at selected Phoenix Petroleum stations nationwide from October 20 to December 31, 2016, and get a chance to collect up to 100 Hot Wheels toy car designs in the Get A Hot Wheels Car Promo. Every P1,000 single or accumulated purchase of Phoenix fuel or lubricants entitles you to purchase one Hot Wheels diecast toy car for only P50. Just present your receipt/s to a forecourt attendant to avail of the promo.

Promo is applicable for cash and credit card fuel and lubes transactions. Receipt/s for accumulation must be within the promo period, and can only be used once. Any excess amount on the receipt/s shall be void and cannot be used in the next toy car purchase. Receipts are valid only at the branch where the transaction was made. The Hot Wheels car may be purchased up to 60 days from end of the promo period. collect/PAGE 15

Philippines open for business with China, says finance minister Opportunities for the two countries to cooperate on infrastructure, says Carlos Dominguez Collect Hot Wheels toy cars T h e P h i l ippi n e s’ n e w and by calling for greater investment from the China- dead. at Phoenix Petroleum stations government plans to court cooperation with China. backed Asian Infrastructure Dominguez has said Chinese investment to fund an ambitious infrastructure programme, the latest sign of warming ties between the two nations that have been at loggerheads over territorial claims in the South China Sea. “The last administration hardly spoke to them,” Finance Secretary Carlos Dominguez said in an interview in the World Bank’s headquarters in Washington on Friday. “Now we are going to talk to them. “It’s time for us to lower the tensions,” he said. “You know the Chinese, they don’t like to lose face. Just as long as they don’t lose face it’s OK to continue arguing with them.” Since sweeping to victory in May elections, Philippine President Rodrigo Duterte has raised eyebrows with repeated attacks on traditional ally the US

Southeast Asian nations had in the past pushed for a united front against China, which prefers that disputes be settled through one-onone talks. In July, an international tribunal ruled that China’s claims were unlawful in a case brought by the Philippines – a decision Beijing refused to recognise. China has been expanding its regional clout through investing in infrastructure projects and plans to revive an ancient trading route stretching from Asia to Europe dubbed “One Belt, One Road”. “We wou l d l i ke t o direct them towards the infrastructure programme that we are embarking upon, and you know we welcome them,” said Dominguez. It’s time to lower the t e n s i on s , s ay s C a r l o s Dominguez. He’s eyeing

Investment Bank, and the government will submit to the Philippine senate its application to join the bank over coming days. “That’s going to be a big source of funding for infrastructure spending.” On the wider economy, the finance official played down investor concerns. The peso is trading near a sevenyear low while stocks had the biggest outflow in a year in September, prompted in part by Duterte’s expletiveladen outbursts. Among the targets, US President Barack Obama, who Duterte warned “you can go to hell” and that he may eventually “break up with America.” He has also told off both the European Union and the United Nations for their criticisms of his violent anti-drug campaign that’s left more than 3,000 people

economic policies have been clear and consistent. S&P Global Ratings last month warned of “rising uncertainties surrounding the stability, predictability, and accountability” under the new government. Gross domestic product increased 7 per cent in the second quarter from a year earlier, data in August showed, close on the heels of India’s 7.1 per cent growth. The US$292 billion economy is forecast to expand 6.4 per cent this year, the quickest pace in Southeast Asia, according economists surveyed by Bloomberg. In the same interview, Bangko Sentral ng Pilipinas Governor Amando Tetangco also hosed down any concerns and said he sees little need to change monetary policy in the near term.

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tue-wed|october 25-26, 2016

Banking&Finance

Deposits continue to fuel PHL banking system T H E P h i l i p p i n e s’ banking industr y continues to be funded largely by deposits, which makes it resilient against the impact of negative external developments. Bangko Sentral ng Pilipinas (BSP) data show that as of end-August, total deposits placed in banks amounted to P7.6 trillion, 12.5 percent up year-onyear. “Savings and demand d e p o s it s re m ai n e d t h e primary sources of funds

for the banking system,” the central bank said in its Inflation Report for the third quarter of 2016. In particular, savings deposits rose 14.8 percent, demand deposits by 16.8 percent, and time deposits by 3.5 percent, it said. Similarly, the banking industry’s total resources in the first half of the year reached P12.9 trillion, an 11.8 percent jump from the P11.5 trillion in end-June 2015. According to the BSP, the sustained growth of mainly

peso-denominated deposits and resources allows t he d ome st i c f i nanc i a l institutions to be among the strongest in the world as they continue to fund the economy’s requirements. “The Philippine banking system continues to be resi lient in supp or t ing the economy’s long-term growth,” the report said, noting that this strength “was e vident in banks’ balance sheets that are marked by steady growth in assets and deposits”. The report also said

domestic financial i nst itut i ons’ c apit a l ade qu ac y rat io (CAR), w h i ch i s a g au ge of a bank’s financial health, is still above international standards. As of end-March this year, the CAR of universal and commercial banks (U/ KBs) stood at 15 percent on solo basis and 15.8 percent on consolidated basis. Both are higher than t h e B S P ’s 1 0 p e r c e n t requirement and the international minimum requirement of 8 percent.

BSP includes renminbi in GIR WITH a Duterte government le aning towards C hina as source of trade and investments, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. yesterday said the Chinese renminbi (RMB) is now one of the official currencies of t h e c ou nt r y ’s g ro s s international reserves (GIR). Tetangco announced Monday that the Monetary Board, BSP’s policy-making body, approved the inclusion of RMB in the GIR to make it readily available to the banking system. The GIR is primarily in US dollars but also includes other currencies such as the Japanese yen in smaller portions. The International Mon e t ar y Fu n d ( I M F ) recently included the RMB as part of its special drawing rights (SDR) list of currencies, the fifth in the SDR basket which is in US dollar, Japanese yen, the euro and the British pound. (Renminbi is the official n a m e o f t h e c u r re n c y introduced by the Communist People’s Republic of China at the time of its foundation in 1949. It means “the people’s currency”.” Yuan” is the name of a unit of the renminbi currency. Something may cost one yuan or 10 yuan. It would not be correct to say that it cost 10 renminbi). Since the RMB is now part

of the SDR valuation, the BSP decided to make RMB reserve-eligible beginning on October 1 this year. As part of the SDR basket of reserve currencies, the RMB will also determine the value of the SDR and that “the rising economic and financial importance abroad of China” is expected to increase the use of this currency, said the BSP. The central bank said the Monetary Board decision also has a lot to do with the “increasing linkages with China” particularly after President Duterte’s state visit to that country where he brought home investment pledges reportedly amounting to $24 billion. Citing data from the Philippine Statistics Office, the BSP said Philippine exports to China increased by 7.9 percent from $5.7 billion in 2010 to $6.2 billion in 2015. In the first seven months of 2016, China ranked as the fourth largest destination of Philippine exports, with 10.2 percent share or $ 3.2 billion to total exports. Imports from China, in the meantime, increased from $4.6 billion in 2010 to $11.5 billion in 2015. “By 2013, China had become the biggest source of Philippine imports, and this continued

in the first seven months of the year, with imports from China at 18.5 percent ($ 8.4 billion) of total imports,” noted the BSP. In terms of tourist arrivals, data from the Department of Tourism show that in July, 2016, China ranked as the second biggest visitor market for the Philippines, an improvement from its fourth place ranking in 2015, added the BSP. As early as 2011, the BSP has already b egan studying using the RMB

as trade currency between the Philippines and China. However, since there was no real demand for RMB in the Philippines, the plan was sidetracked. The central bank maintains a floating exchange rate system which is determined on the basis of supply and demand in the foreign exchange market. Since 2006, the Chinese yuan is a currency convertible with the BSP and it is an acceptable currency for export receipts. The yuan is the base unit of the RMB.

SSS pension hike proposal advances THE PROPOSED P2,000 across-the-board monthly pension increase for Social S e c u r it y Sy s t e m ( S S S ) members will move forward to the Senate plenary next month after the pension hike was approved at the Senate committee level yesterday. “ We m ov e t h at t h e [Senate] committee approve the increase of SSS pension of P2,000 across-the-board sa ating mga pensioners (for member pensioners),” said Senator Cynthia A. Villar, chairman of the committee on finance, on Wednesday during the committee hearing.

“I expect the passage into law of this measure before the year ends. We all agree that the cost of living faced by pensioners has enormously grown and this increase is necessary in order to provide for the well-being of the country’s retirees,” Ms. Villar said. A total of 13 bills that sought to amend Republic Act No. 8282 or the Social Security Act of 1997 were consolidated and approved yesterday by the Senate Committee on Government Corporations and Public Enter pr is es chaire d by pension/PAGE 15

9 OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274

METRO BANK- COGON Osmeña Hayes St. Cdoc | 726438/8572057

ASIA UNITED BANK Cor.Camp Alagar Road Lapasan, Cdoc 729678 / 8568893

METRO BANK- CARMEN Max Suniel St. Carmen, Cdoc 8581722/ 8585162

BDO – VELEZ Velez-Rn Abejuela Street, Cdoc 2314246/8572075

METRO BANK- LAPASAN CM Recto Lapasan HW, Cdoc 724461/8561721

BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637

METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924

BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796

METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731

BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405

METRO BANK- GAISANO 8561720

BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 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

CM Recto Ave. Lapasan, Cdoc, 8563991/727731

BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819

PLANTERS DEVELOPMENT BANK

Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723

PNB- LKK MALL NORTH CONCOURSE

LKK Mall N.Concourse Cdoc 8574149/8575682

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.

#58 Tiano FernandezSt.CDO 727215/ 8563552 *805

SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625

EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081

SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632

EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331

STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168

ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999 METRO BANK- VELEZ A. Velez St. Cdoc | 8561724/726054

Hip 101, a defunct dance group that was led once upon a time by Vianncy Unabia, had a reunion last Sunday as a salute to the 15th anniversary of Cagayan de Oro Talent Center. The activity was held at Centrio. PHOTO BY MARK FRANCISCO

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558

METRO BANK- JR BORJA JR Borja St. Cdoc | 8572999/724415

UCPB BANK- LAPASAN Osmeña Corner Lkk Drive, Cdoc 85771842/ 725135 UCPB BANK- VELEZ Velez Corner C. Pacana St. CDO 8564474/8564527 UCPB BANK SAVINGS-CAPISTRANO

Capistrano Corner CruzTaal St. CDO 8524099/722695

UCPB BANK SAVINGS- OPOL Gf forever Books Bldg.Bulua National CDO 754519/8588063 UNION BANK Lapasan Cm.Recto Cdoc | 8566847/8563805 WEALTHBANK Velez Gomez St. Cdoc | 8568942/722174 1ST VALLEY BANK Vamenta Blvd. CornerLirio St. Carmen, Cdoc 8501871/ 8584146 OROBANKERS CLUB Inc. Pnb Carmen | 09151850242

10 H&M OPENS IN CAGAYAN DE ORO!

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tue-wed|october 25-26, 2016

H&M Hennes & Mauritz, Inc. continues its expansion in the southern part of Philippine shores, as it opens what will be its 18th store in the country this month! Opening to an exciting set of new shoppers in the fast-developing city of Cagayan de Oro, the over 1,500-square meter store will open its doors in Centrio Mall on October 27, 2016. “The response from our Mindanao customers, after we opened our 1st store in Davao just last month, has been incredible! We look forward to catering to even more of the same vibrant shoppers in Cagayan de Oro, as we open in Centrio Mall. We hope to be the city’s destination for fashion and quality at the best price, in a sustainable way,” says Fredrik Famm, Countr y Manager for South East Asia. “We have also selected a great group of H&M team members to give you the best shopping experience in this store, and we hope you will welcome and embrace them as your own!” he adds. C D O ’s f i r s t H & M

store will carr y the full assortment of H&M including ladies, men’s, kids, shoes, accessories and lingerie. It will also feature a full sports, denim and underwear department for both men and ladies. Within all of these the mindful shopper will find an array of Conscious and sustainablyproduced products, and offer the option to donate

us ed clothes and get a discount voucher to use for their next purchase under H&M’s Garment Collecting program. Those shopping on o p e n i n g d ay c a n a l s o expect great offers! Gift cards of varying amounts from P300-P2,000 will be handed out to the first 300 in line, with a special prize of P5,000 for the first. The

DUREZA: FEDERALISM A MEANS TO CORRECT INJUSTICES AGAINST BANGSAMORO, IPs Presidential Peace Adviser Jesus Dureza said federalism may be an instrument to correct the "wrongdoings" committed by the government against the Bangsamoro and other indigenous peoples. "In fact, and as you have already know, the constitutional change to create a federal form of government has been an integral component of the Bangsamoro roadmap under this administration’s sixpoint peace and development agenda," Dureza said in a statement read in a forum on federalism in Makati on Wednesday. The statement, read by Office of the Presidential Adviser on the Peace Process (OPAPP) Undersecretary Jose Lorena, said the constitutional reforms ran side-by-side with the peace agreements that previous administrations had entered with the Moro fronts and other Bangsamoro stakeholders. "With this already in the pipeline, the proposed Bangsamoro entity can be envisioned as our pilot case study of the workings of a federal state government," Dureza said. "As an offshoot thereto, federalism may correct the previous wrongdoings committed against Bangsamoro, Cordillera, and a myriad of indigenous communities in the Philippines," he added. Dureza said federalism could be "a just and lasting redress for the powerless, dispossessed, and disenfranchised brought by the forceful submission of

foreign powers and majority culture." "It brings out the best of our ideals by democratizing the mechanism to allow more people’s engagement in governance," Dureza said. The Duterte administration has been pushing for a shift from a unitary to a federal system of government that has a central government and a number of federal states. This shift requires a change in the Philippine Constitution as it presently mandates a unitary form of government. Dureza warned that efforts to change the system of government will be useless if Filipinos will remain divided due to cultural, economic, and political backgrounds. In shifting to a federal form of government, Dureza said the big question is not "why" the change must be adopted but "how" to integrate the different values of all Filipinos and how to make federalism work. "Why we need to shift to federalism is neither the most important nor most challenging part," Dureza said. "[This] will always be how to read and integrate our people’s attitudes and values ...and how to make it work so that it will be a true instrument of nationbuilding," he added. He said that the shift to federalism must acknowledge the regional differences among Filipinos. "We are Filipinos but we are also Ilocanos, Dabawenos, Bikolanos, Cebuanos,

Bangsamoro and so forth," Dureza said. "We must afford each other the democratic space and freedom to be Tagalogs, Ilonggos, Bisayas, Tausugs, all the beautiful, separate, but equal composites of this archipelago," he added. The Philippines has two autonomous regions: the Cordillera Administrative Region (CAR) in Northern Luzon and the Autonomous Region in Muslim Mindanao (ARMM) in the southern part of the country. Dureza said, "Our 1987 Philippine Constitution afforded these groups the creation of two autonomous regions — one in Cordillera and another in Muslim Mindanao." "Despite criticism and despite the shortcomings of these autonomous or regional governments, they paved the way for a true discernment and dialogue on federalism," he said. Dureza said regional differences among Filipinos should not be a hindrance in building a stronger nation. "Regionalism is not an obstacle but an indispensable element in the path towards nation-building. What we sow and yield in the countryside, in the localities, contributes to our common aspiration as Filipinos, as a nation of communities," Dureza said. "This is the basic ideal of federalism that we want our people to imbibe: putting together the hard work of our people, whatever their cultural, economic and political background," he added. (PR)

next 300 will walk away with special H&M umbrellas and tote bags. A special treat also awaits stylish shoppers – 3 of the most fashionable people spotted

in the queue before opening will be chosen and given P2,000 Gift Cards each. For everyone else shopping until the weekend, great fashion finds for as low as

P300 await. The store will open on October 27, from 11am9pm, and regular operating hours from 10am-9pm will resume thereafter.

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region BRANCH 07 Tubod, Lanao del Norte IN RE: PETITION FOR CORRECTION OF ENTRIES SPL. PROC. NO. 321-07-2016 (i) IN THE CERTIFICATE OF LIVE BIRTH OF NICKLE JADE P. MORALES AS REGARDS HIS MIDDLE - for NAME AND SURNAME AS WELL AS DATE AND PLACE OF MARRIAGE OF PARENTS Correction of Entries in the Certificate of Live Birth NICKLE JADE BARUMAN PAPAYA, Petitioner, - versus – SPOUSES TEOFILO MORALES, JR. AND FLORA VICTORIA PAPAYA, Private Respondents. THE LOCAL CIVIL REGISTRAR OF TUBOD, LANAO DEL NORTE, And THE ADMINISTRATOR AND CIVIL REGISTRAR GENERAL, PHILIPPINE STATISTIC AUTHORITY (PSA) Formerly, NSO East Avenue, Quezon City, Metro Manila, Respondents. x-------------------------------------/ ORDER A verified petition for the correction of entries was filed before this Court on August 1, 2016 by the herein petitioner praying among others that after notice and hearing, an Order be issued directing the Respondent to effect the correction sought for. Petitioner alleges that he is Nickle Jade Baruman Papaya, a Filipino, married and a resident of Purok 5, Taden, Tubod, Lanao del Norte. Private Respondents spouses Teofilo Morales, Jr. and Flora Victoria are both of legal age, married and residence of Purok 5, Taden, Tubod, Lanao del Norte. While Public Respondent is sued in its capacity as such. Petitioner was born on September13, 1992 at Taden, Tubod, Lanao del Norte to spouses Teofilo Morales, Jr. and Flora Victoria Papaya. His birth was duly registered and recorded in the Office of the Local Civil Registrar of Tubod, Lanao del Norte under Registry No. 2003-781. His parents Teofilo Morales, Jr. and Flora Victoria Papaya got married on June 17, 1992 before Hon. Oscar E. Zerna, RTC Judge of the Regional Trial Court, Branch 07, Tubod, Lanao del Norte. On September 21, 1996, spouses decided to marry for the second time before Rev. Fr. Anastacio Daugdaug, parist priest of San Isidro Labrador Parish Church. Nevertheless, his birth record, at the Philippine Statistics Authority and in the Office of the Local Civil Registrar of Tubod, appears that he is bearing the middle name of his mother which is “Baruman” and his mother’s surname which is “Papaya”, when it should have been his father’s surname and his mother’s surname as middle name since his parents were legally married on June 17, 1992 even before he was born. Since childhood, he has been using the family name of his father as his surname which is “Morales” and his mother’s surname which is “Papaya” as his middle name as seen in his school records and documents of importance. There is a need to correct the entries in his Certificate of Live Birth to avoid confusion when he should have carried the surname of his father as his surname and the surname of his mother as his middle name and to give him the privilege to use the family name of his biological father and mother as his surname as well as change his status to that of a legitimate child. And that his parents were actually married on July 17, 1992. 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 his records of birth to conform to the truth. Set the initial hearing of this petition to December 5, 2016 at 8:30 in the morning before the sala of this Court for the reception of evidence to establish jurisdictional requirements. Furnish copy of this Order to the OSG, Makati City, Public Prosecutor’s Office, Tubod, Lanao del Norte, Office of the Local Civil Registrar of Tubod, Lanao del Norte, Public Attorney’s Office, other line agencies concerned, and to the petitioner himself at his stated address. Petitioner is hereby ordered to publish copy of this Order to a newspaper of general circulation in the province of Lanao del Norte for three consecutive weeks, at his expense. Notice is hereby given to all person/s who has interest over the petition to appear in Court on said date and time to show cause why said petition should not be granted. SO ORDERED. Tubod, Lanao del Norte. August 26, 2016. BWM: Oct. 26, Nov. 2 & 9, 2016

(Sgd) DENNIS P. VICOY Acting Presiding Judge

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tuesday|october 25, 2016

11

BusinessWeek feature

MINDANAO www.businessweekmindanao.com

Tuesday | October 25, 2016

12

Corporate icons, leaders, hail 2016 Mindanao Business Awards C

PIA 10 OIC-Director Franklin P. Gumapon poses with Mr. Rafael Z. Sison - Eastwest Bank VP & Deputy Group Head for Retail Banking VISMIN who received the presenter’s plaque from Dante Sudaria BWM President and CEO, during the 5th Mindanao Business Leaders Awards held last October 22 at Limketkai Luxe Hotel, Cagayan de Oro.

PIA 10 OIC- Director FRANKLIN P. GUMAPON, PVB’s MIKE VILLA REAL, and BWM’s Dante Sudaria

Ms. Beverly Dayanan, President & CEO of Contempo Property Holdings Cebu City

AGAYAN DE ORO CITY - Officers of big corporate companies, government officials and honorees to the 5th Mindanao Business Leaders and Entrepreneur Awards hailed Business Week Mindanao and Mindanao Daily for its highly successful culmination event held over the weekend at Limketkai Luxe Hotel, this city. Vice President for Veterans Bank Corp. Affairs & Mktg, Mike Villa Real said: “On behalf of our Chairman & CEO, former Finance Secretary Roberto de Ocampo. Philippine Veterans Bank would like to express its Congratulations to Allan (Mediante) Awards organizer, and Dante (Sudaria, President & CEO of BusinessWeek Mindanao Corp.) and advance congratulations to all the winners of the 5th Mindanao Business Leaders and Entrepreneurs Awards (MBLEA) PVB has been a partner to the MBLEA since it started 5 years ago. And wow, looking around, the awards has gone a long, long way since Dante & Allan started, congratulations to both of you. Supporting the MBLEA is attuned with to the Bank’s direction to support development in key growth centers outside the NCR. In the same vein, the Bank has more branches in key cities than

Mayor Gregorio Lloren Gue (center) and First Lady Carmen Capistrano Gue (right) of the Municipality of Quezon, Bukidnon receives the special awards plaque for Outstanding Performance in Preservation of Culture and Arts during the 5th Mindanao Business Leaders Awards.

in MM. MSME’s play a huge role in our economy, it is MSMEs that employ over 70% of the workforce nationwide today. That is why I have only the highest respect for entrepreneurs and businessmen. And again we are glad that we are a part of this effort, to recognize these innovators, and resolute trailblazers in business. This is another one reason why we have supported this project since 2011. …) The keynote speaker, DOE Usec Engr. Arwin Ardon, also the President & CEO of PNOC Renewables Corp., stated: “I am very pleased that BusinessWeek Mindanao and the organizers of this event has placed a high importance on our common quest for Mindanao to move forward to greater heights for a sustainable economic development for its people through a peaceful and sound business atmosphere. I would particularly like to extend my congratulation to our honorees tonight. Their achievements, small or great, has added to the strengthening of our unity as a nation. Successful Mindanaoans in business and entrepreneurship are successful Filipinos. We will sound the trumpet so that more Mindawans will be recognized and honored in the

next Mindanao Business Leaders and Entrepreneur Award. So I thank you all in advance for your valued contribution to the whole economic life of our nation.” Ms. Beverly Dayanan, President & CEO of Contempo Property Holdings Cebu City said she just arrived from Paris France where she received and Excellence Award, but enplaned immediately from Cebu to Cagayan de Oro to attend the awards ceremony. She said in her congratulatory message: “I think there comes a time when we all gave ourselves a little more credit. We’re achieving success without acknowledging it. We should, now. Every day, in our own corner, in our own unique way we have done something successfully. Let us acknowledge that each one of us is a SUCCESS. Letting others speak of it is like a balm to the spirit in the noon day sun. I welcome media’s way, particularly BusinessWeek Mindanao & Mindanao Daily, of speaking that word to our award honorees this evening. I personally congratulate the awardees of this 5th Mindanao Business Leaders & Entrepreneur Awards.” Representing agri-business Awards/PAGE 15

Mr. RAFAEL Z. SISON , EastWest Bank’s VP & Deputy Group Head for Retail Banking VISMIN, with ESR Construction, Engr. Edmario Sandalo Revelo, and Mrs. Marlyn Nadala Revelo with Ms. Mercedes. Lourdes Quisumbing, Philippine Chamber of Commerce Incorporated PCCI), Western Mindanao Regional Governor.

THE 5TH MBLEA at Luxe Hotel (inset) Awards Director Allan M. Mediante

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wednesday|october 26, 2016

All about ALS

Republic of the Philippines SUPREME COURT REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF

By BRYAN JAY A. GAYONHAY ALS Mobile Teacher Impasug-ong District II

THE Alternative Learning System (ALS) is a parallel learning system in the Philippines that provides a practical option to the existing formal instruction. When one does not have or cannot access formal education in schools, ALS is an alternate or substitute. ALS includes both the nonformal and informal sources of knowledge and skills. ALS only requires learners to attend learning sessions based on the agreed schedule between the learners and the learning facilitators. The program has two different schematics for the conducting instruction: school-based and community-based. On the school-based program, instructions are conducted in school campuses while in the community-based program, formal instruction

is conducted in community halls or in private laces. The ALS program follows a uniform lesson module for all academic subjects covering the sciences, mathematics, English, Filipino, social studies and current events, among others. Delivery of instructions are provided by government-paid instructors or by private non-government organizations. Aside from schematics, the program has two levels – elementary and secondary. Students have to st ar t from elementary level then proceed to high school level. If a student is a graduate of elementary under a formal classroom system, the student is automatically admitted to the secondar y levels depending on which year level the student stopped schooling.

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

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

(Sgd.) REYNALDO L. SALCEDA Sheriff IV

BWM: October 12, 19 & 26, 2016

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 17 Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE EJF-2016-468

NOTICE OF EXTRA-JUDICIAL SALE File No. EJF-2016-463

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

Cagayan de Oro City, October 3, 2016.

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

BWM: October 12, 19 & 26, 2016

Upon extra-judicial petition for sale under Act No. 3135 filed by HOME DEVELOPMENT MUTUAL FUND (PAG-IBIG FUND), mortgagee, with office at J.R. Borja St., Cagayan de Oro City, against RAMIR A. MIRA , mortgagor, married to Edna S. Mira, legal age, Filipino citizen, with postal address at San Miguel Corp., Brewing Phil., Bonbon, Opol, Misamis Oriental, to satisfy the mortgage indebtedness which as of August 22, 2016, amounts to TWO HUNDRED SEVENTEEN THOUSAND SIX HUNDRED SEVENTEEN PESOS & 45/100 (P 217,617.45), inclusive of interest and penalty charges, the undersigned or her duly authorized deputy will sell at public auction on November 29, 2016 at 10:00 A.M. or soon thereafter at the Office of the Clerk of Court, Regional Trial Court, Branch 17, Tourism Bldg., Cagayan de Oro City to the highest bidder, for cash or manager’s check and in Philippine Currency the following property with all improvements, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-157992 ‘’ A PARCEL OF LAND (Lot 15, Block 22, of the cons. Subd. Plan, PCS-10-001788, being a portion of Lot 3637, Cad-237, Cagayan Cadastre & Lot 3635-D, Psd-10-009550), situated in the Barangay of Iponan, City of Cagayan de Oro, Island of Mindanao. Bounded on the NW., along line 1-2 by Lot 13 of Block 22 of the cons. Subd. Plan; x x x … including all improvements thereon. Containing an area of One Hundred Forty Three (143) square meters, more or less.’’ All sealed bids must be submitted to the undersigned on the abovestated date, time and place. In the event the public auction should not take place on the said date for whatever reason, the public auction will proceed on the next working day, without further notice, posting and publication. Prospective buyers may investigate for themselves the title hereinabove described and encumbrances thereon, if any there be. October 14, 2016, Cagayan de Oro City.

(Sgd.) FE O. BONTUYAN-BULARON Sheriff IV

BWM: Oct. 26, Nov. 2 & 9, 2016

14

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wednesday|october 26, 2016

CONGRATULATIONS AWARDEES!

15

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tue-wed|october 25-26, 2016

Visit... from page 1

especially Mindanao. He mentioned opening wider cooperation in key infrastructure development, particularly the possibility of tapping Japan’s experience and expertise in developing high quality and modern public transportation to “support the Philippines sustained growth and development.” “The visit will be an opp or tunit y for me to personally thank Japan for its preeminent and fearless role as the Philippines’ development partner,” he said. He added that he and Prime Minister Shinzo Abe will tackle, among others, “greater political, social and defense cooperation particularly in maritime domain awareness and maritime security.” Duterte will pay a courtesy call to Japanese Emperor Akihito and meet leaders of the Japan-Philippines Parliamentarian Friendship League. “This courtesy call is imbued with great and special significance. It reaffirms at the highest level, the positive transformation of ties between our nations and peoples. It denotes our shared commitment to a forward looking partnership that is founded on mutual respect, dignity and solidarity,” he said. Duterte will also seek to enhance the economic ties between the two countries, with Japan as one of the country’s top trading partners. Records from the Philippine Exporters Confederation 11 revealed that Japan has remained the biggest buyer of Philippine Cavendish bananas, recording a whopping US$277,272,187 worth of exports in 2015, followed by China with US$157,499,048, South Korea with US$80,986,180, Iran with US$53,144,575, and United Arab Emirates with US$24,415,404. Duterte said he will meet with Japanese business leaders to encourage them to invest in the Philippines. “I look forward to meeting business leaders in Japan, I will tell them clearly that the Philippines is open for business,” he said. He a d d e d t h at t h i s is an important time for Phi lippines-Jap an relations “as we advance an independent foreign policy in our engagement with the community of nations.” “ T h i s i s a d e f i n i ng moment for the solid and strategic partnership between Japan and the Philippines carefully nurtured over 600 years of formal diplomatic relations,” he added. Japan, a close ally of the US, has voiced concerns over Duterte’s foreign policy pronouncements. During his state visit to China last week, Duterte declared a “separation” from the US in terms of economic and military engagements, a n d h i nt e d at g re at e r

cooperation with Beijing with which the Philippines has a territorial row in the West Philippine Sea. Japan also has a territorial dispute with China over the uninhabited Senkaku Islands (Diaoyu Islands to the Chinese) in the East China Sea.

Surplus... from page 1

Tuesday that the island is expected to have a surplus of over 1,000 megawatts. The surplus will come from Filinvest Development Corp.’s 405-MW coal plant, San Miguel Corporation’s 600-MW coal plant, Cagayan Electric Power and Light Company Inc.’s embedded capacity of 155 MW, and Aboitiz Power’s Manolo Fortich Hydropower Project with 68 MW in Bukidnon, he said. He said SMC’s two-unit plant has a capacity of 300 MW but expandable to 600 MW. “With the surplus, even with two shutdowns, we can handle it,” he assured. Reston said the electricity market will allow power companies in Mindanao to reallocate the surplus to areas needing more power. “We are entering a regime of surplus capacity. We need to have the market,” he emphasized. He said they have yet to discuss the dispatch protocol in the upcoming principals’ meeting in November in Manila where Energ y Secretary Alfonso Cusi and MinDA Secretary Abul Khayr Alonto will meet with the top executives of companies in the country. The dispatch protocol will serve as guide to address the possible issues between power generators and distributors when the electricity market would start operation. “We want IMEM (Interim Mindanao Electricity Market) to be practiced. But there’s not yet a dispatch protocol. Without it, there would be some capacity that will not be paid,” he said. At present, he said they are choosing between the Power Electricity Market Corporation, the operator of Wholesale Electricity Spot Market and the Independent Market Operator for Mindanao, being pushed by the Association of Mindanao Rural Electric Cooperatives, Inc. to manage the electricity market. PEMC handled the IMEM before it was suspended in February 2014 due to “system collapse in Mindanao” and the need to “resolve operational and commercial issues and concerns.” In his presentation, Reston said that MinDA supports the creation of a Mindanao Power Corporation, a governmentowned power corporation that will handle the Agus-Pulangui hydropower complex that supplies Mindanao half of its power needs. He said that relegating the management of AgusP u l a n g u i f r o m Po w e r Sector Assets and Liabilities Management to Minpocor

will ease the adverse impact of increase in electricity rates brought about by volatile supply or world market prices. “The prices of coal are pegged at the market price of oil,” he said. He added the electricity rates will be more affordable as “opposed to rates if the plants are fully privatized,” earnings will be given to Mindanao, and ownership of the hydropower plant will ensure that market dominance of the power plants will not be transferred to the private sector.

Law...

from page 1

planning to talk to Alvarez as they convene members of the interim board of the National Banana Industry Council to elect its officers in the next few months. Marañon said the law will allot an annual budget for the council to bolster the industry’s growth. He said that the industry has prepared a draft bill and they need a House member to sponsor it in Congress. Citing President Rodrigo R . D uter te, Phi lexp or t executive director Edwin Sotto said that the a law that will establish the National Banana Industry Council “is long overdue” to address pests and diseases as well as, issues hounding the players. “It was no other than the president who endorsed the process. He doesn’t like an executive order. He would prefer a congressional law that would create a Banana In du s t r y D e v e l opm e nt Council,” he said. He said the law will establish the National Banana Research Center that will find cures to diseases like the Fusarium-wilt, or the Panama disease, that has affected over 15,500 hectares in Davao Region. Duterte told the National Banana Congress on October 7 that he supports the call for the creation of the council and the research center to address concerns besetting the industry, but not through an executive order. Duterte said he did not sign the draft executive order prepared by the industry leaders on the proposed council and research center, citing a law is needed for these bodies to get sufficient funding. “The proposed measure is the creation of a Banana In du s t r y D e v e l opm e nt Council. Now it should be a law, I cannot give executive order. So, because if you need something, money or otherwise; if you need government to intervene – the legal standing has to be something like there is a law, the force of law in the creation of the banana research institute,” he said. Marañon said the interim council is composed of big banana growers, exporters, medium and small growers, processors, cooperatives, and agrarian reform beneficiaries from all over the country. It also includes government representatives, including Agriculture

Secretary Emmanuel Piñol, Trade secretar y R amon Lopez, and Interior and Local Government Secretary Ismael Sueno, he said. It is tasked to keep track of the progress of the proposed measure in Congress, he added. (Antonio L. Colina IV/MindaNews)

Penalty... from page 7

of the frequencies were never finalized, approved and signed. “Hence, it is considered ‘soft information’ and its untimely disclosure then would not only have been premature, but would have stymied its development and implementation and such untimely disclosure would have created undue market speculation,” SMC told the regulator and exchange through a Sept. 8 letter. The MSRD, however, noted the reassignment was already approved by the NTC at the time and, thus, warranted a disclosure. The corporate regulator said the fine is slapped “without prejudice to the imposition of other penalties that may be imposed due to the deficiencies/deviations that will be noted in the C o m p a n y ’s F i n a n c i a l Statements.” “SUCCESSFUL” TENDER OFFER The late disclosure of the transaction raised questions over the pricing of the voluntary tender offer made by Vega Telecom to minority shareholders in Liberty Telecoms for the purpose of delisting the latter. S om e an a ly s t s h ave expected Vega Telecom to buy out the 12.82% stake comprising 165,883,221 common shares left in Liberty Telecoms for around P5 per share, thinking the coveted frequencies remained assigned to the company. The tender offer was instead priced at P2.20 per share. The frequencies would supposedly have not added to Liberty Telecoms’ value anyway because the government actually owns and merely assigns them. With the revelation of the reassignment of the frequencies, the SEC ordered Vega Telecom to extend the offer period to give fellow shareholders in Liberty Telecoms time to digest the material information. In a separate disclosure on Friday, Liberty Telecoms announced the “successful” conclusion of Vega Telecom’s tender offer at noon of Thursday. The company will then delist from the stock exchange on Nov. 21.

Awards... from page 12

giant VITARICH C orp, Marvin Ubab, re-echoed his company’s gratitude for being adjudged as Most Outst anding Mindanao Business Leader in AgroIndustry. ESR Construction ow ne rs E ng r. E d mar i o Sandalo Revelo, and Marlyn Nadala Revelo said it was the husband’s birthday which was

to be celebrated in Pagadian City, but decided to come instead to Cagayan de Oro to receive the award. The Mega Entrepreneur award conferred to them was a very precious birthday gift, the couple commented. With them was the whole family. Mr. RAFAEL Z. SISON , EastWest Bank’s VP & Deputy Group Head for Retail Banking VISMIN, also expressed EASTWEST Bank’s gratitude for being a co-presenter of the event this year. Other business leaders who graced the affair were, Ms. Ma. Lourdes Quisumbing, Philippine Chamb er of Commerce Incorporated PCCI), Western Mindanao Regional Governor; PCCI Northern Mindanao regional governor Efren Uy , Rotary Club Governor Manny Along; and Oro Chamber President Jeffrey Ang. Other guests and VIPs included: PHINMA’s Ms. Chery Jane P. Chan, Assistant Chief Operations Officer and Royce Genman S. Arellano, Marketing Manager; Del Monte’s . Bong Quiblat, Stakeholders and JETTI FUEL PHILIPPINES’s . Fritz Janeo, ENGR. ARNOLD P E P I N O, P r o d u c t i o n Manager HOLCIM MisOr Plant; Ms. MA. TERESA R. ALEGRIO, Community Devt & Public Relations Manager, STEAG State Power Inc. DOT -10 Regl. Director Catalino Chan III, and SM Public Relations Manager Ms. Ivy Guantero, PIA 1 0 OIC - D i re c tor FRANKLIN P. GUMAPON, DILG 10 Regional Director ARNEL AGABE.

Pension... from page 9

Senator Richard J. Gordon. The consolidated proposal provides that the minimum monthly pension will be raised to P3,200 from P1,200 for members with at least 10 credited years of service and to P4,400 from P2,400 for those with 20 credited years of service.

A bill on the proposed P2,000 pension hike was already approved by the House of Representatives last Sept. 7. Asked whether the bill will be approved before December, Sen. Gordon told reporters after the hearing: “We’ll make it work... Definitely.” Mr. Gordon said the SSS would not need to be provided with government subsidy should the pension hike be approved. “We will approve subject to consideration that you will present how we will improve collections and... We must hear a realistic pension to our people,” Mr. Gordon told George S. Ongkeko, Jr., senior vice-president and chief actuary of the SSS during the hearing. Mr. Gordon will call another meeting for SSS “to find out what [their] solutions are.” According to SSS data, as of June of this year, there are 34.2 million SSS members of which 2.018 million are pensioners. A presentation yesterday showed the SSS’ average net revenue collected from 2010 to 2015 amounted to P35 billion. A similar proposal to increase the monthly pension of SSS members by P2,000 was passed by the 16th Congress but was vetoed by former President Benigno S.C. Aquino III, citing the measure’s “dire financial consequences.”

Collect... from page 8

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tue-wed|october 25-26, 2016