BusinessWeek Mindanao (October 28, 2019)

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Monday|October 28, 2019

PRESIDENT Rodrigo Duterte has directed the Department of Energy (DOE) to ensure that the power plants operating in the country are strictly complying with operational efficiency standards as well as on environmental laws and regulations.

He had given this instruction to Energy Secretary Alfonso G. Cusi during the recent inauguration of the 500-megawatt San Buenaventura Power Co. Ltd. (SBPL) power plant project at the Grand Hyatt Hotel in Fort Bonifacio last week.

Duterte stipulated that he is directing relevant government agencies, primarily the DOE, “to remain vigilant in monitoring the compliance of power generation companies with existing laws and regulations.”

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Biz sector told to adopt sustainable peace, devt T

Thank you for trusting us!

By NEF LUCZON, PNA

HE Northern Mindanao's Regional Task Force to End Local Communist Armed Conflict (RTF-Elcac) has urged business sectors in the region to adopt a Corporate Social Responsibility (CSR) focusing on the reduction of communist presence in communities.

RICE FARMERS said the market will be well-supplied with the staple even if the government proceeds with safeguard duties that discourage further imports, though they did not say how prices will be affected.

“There will be no shortage of rice even if imports are temporarily stopped by the safeguard duties. We have more than enough rice, and the main harvest season has not yet ended,” Federation of Free Farmers National Manager Raul Q. Montemayor said in a statement.

He said that domestic supply is currently sufficient without imports.

Stricter rules

We strive for Excellence!

Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting

This was the highlight of Wednesday's Forum on CSR for Sustainable Peace and Inclusive Development,

where the militar y and other government agencies comprising the RTF-Elcac PEACE/PAGE 11

Davao, Mambajao among most competitive areas

By ANTONIO L. COLINA IV, MindaNews

LANZONES FESTIVAL: Performers from around Camiguin perform in a street dancing competition during the celebration of the Lanzones Festival on Saturday, the annual festivities celebrated in Mambajao, Camiguin and now on its 40th year. photo by gerry lee gorit

Thousands gather in Camiguin for annual Lanzones Festival

DAVAO City – Davao City and Mambajao in Camiguin emerged as among the most highly competitive cities and municipalities in the country this year, according to the

Cities and Municipalities C omp e t it ive ne ss Ind e x (CMCI) 2019 of the National Competitiveness Council (NNC).

COMPETITIVE/PAGE 11

By GERRY LEE GORIT, Reporter

M A M B A J A O, C a m i g u i n - Thousands of residents and tourists gathered at the capital town here for this year’s annual Lanzones Festival, which has become more

festive as the island-province is also celebrating its win in the national award for local government units with best practices.

FESTIVAL/PAGE 11

MGB-12: Tampakan project not yet due for production

By BONG S. SARMIENTO, MindaNews

TAMPAKAN, South Cotabato -The $5.9 billion Tampakan project here, Southeast Asia’s largest known undeveloped copper and gold minefield, is not yet due for commercial production due to some

reasons, the chief of the Mines and Geosciences Bureau-Region 12 (MGB-12) clarified Thursday.

Felizardo Gacad Jr., newly installed MGB-12 acting director, PROJECT/PAGE 11

PLASTIC BAN. This boy sells bamboo straws for 100 pesos per bunch to tourists at the majestic Top View Coconut Forest in Pilar town in Siargao Island in Surigao del Norte. The town has imposed a ban on single use plastics. mindanews photo by roel catoto

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MONDAY|OCTOBER 28, 2019

MisOr guv defends party mate nabbed in investment scam

M

By JIGGER JERUSALEM, PNA

ISAMIS Oriental Governor Yevgeny Vincente Emano on Thursday took the cudgels for a political ally who was arrested along with four others by law enforcers in Mandaue City on Tuesday for alleged involvement in an investment scam.

In a statement on Friday, Emano said he was saddened by what happened to former vice mayor Caesar Ian Acenas, even as he implored the public not to quickly judge

the former official.

Emano and Acenas belong to the regional political party, Padayon Pilipino.

“Allow him to air his side to the public and the

court of law,” Emano said, adding that Acenas has proven to be a true friend and a responsible member of their party.

The governor said his father, the late former city mayor Vicente Emano, had trusted Acenas to be his running mate in the previous elections.

Emano said he has requested Provincial Information Officer Florito Dugaduga to extend assistance to the former vice mayor by providing a lawyer.

“Since Dugaduga is from there (Cebu), I

believe he can help Acenas to hire a legal counsel,” Emano said.

Acenas and four other persons were arrested by a team of

Criminal Investigation and Detection Group agents for their alleged involvement in an investment scam that has raked in some PHP400

million in Mindanao.

Also apprehended were Aileen Hope Matulac, Maria Esperanza Makinano, Arjun Gomban, and Ajetor Daya. (PNA)

WW2 Battle of Surigao Strait remembered

By ALEXANDER LOPEZ, PNA

SURIGAO City – The commemoration of the 75th anniversary of the historic Battle of Surigao Strait took place early morning on Friday (October 25) at the Memorial Site in Punta Bilar here.

An ecumenical prayer opened the commemoration rite that was followed by the

raising of the flags of the Philippines, Japan, Australia, and the US; laying of wreaths at the memorial site; and the lighting of the memorial flame.

A 21-gun salute by the 30th IB of the Philippine Army and playing of the Taps by the Bureau of Fire Protection Band were also offered to all those who

perished during the battle.

The commemoration carried the theme “Immortalizing Heroism”.

Surigao City Mayor Ernesto Matugas Jr., led the commemoration rites together with Surigao del Norte Vice Governor Eddie Gokiangkee, Jr. who represented Governor Francisco Matugas, and Dinagat Islands Governor Arlene "Kaka" J. Bag-ao.

Foreign dignitaries were also present during the event, including Australian Ambassador to the Philippines Steven Robinson; Commander Michinori Fukuda, the Assistant Defense Attache’ of the Embassy of Japan to the Philippines; Col. Brian J. Clark, a commander of the US Navy and the Naval Attaché of the US Embassy; and Vice Admiral Stuart Mayer of the Royal Australian Navy and the Deputy Commander of the UN Command in the Republic BATTLE/PAGE 9

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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Monday|October 28, 2019

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Suzuki Philippines Seeks More Investor -partners in Car Dealership Business

D Suzuki Smash Now Comes in Refreshed Color Schemes Suzuki adds more color to the everyday ride of the Filipinos with the launch of Smash’s latest shade – Candy Jackal Green.

Offering another fresh hue to the already radiant selection of the well-loved underbone from Suzuki, the Smash Candy Jackal Green or simply Jackal Green will sure make every head turn with its striking mix of blue and green.

A fusion of the calmness of blue and the growth that is represented in green – the Smash Jackal Green complements the chill vibe and go getter

personality of the young Filipino riders who aim to seize the day at work, achieve an errand or two or just go around for a fun road trip with a costefficient ride.

The Suzuki Smash is considered as the Most Preferred Underbone Leisure Motorcycle in the country with its proven reliability over the years (based on MDPPA’s 2018 data). It is well-loved by many that it has already earned itself a huge following nationwide. Its history can be traced back SMASH/PAGE 11

RIVEN to further expand its presence in the country and riding on its growing business momentum, Suzuki Philippines Inc. (SPH), the country’s pioneer subcompact car distributor, continues its Dealer Expansion Program and invites more investors across the country into the car dealership business.

The program aims to open more dealerships in the country, in particular in areas with growth potential. The dealership partnership covers the construction and operation of new dealerships.

“With the milestones Suzuki Philippines has reaped, including the ones we’ve achieved so far this year, we believe we are more equipped to grow the business further and

spread to more areas in the country. We consider that now is the best time to work with more potential investors, and so we are looking for more business partners who share our vision, believe in our products and see the great possibilities in growing with the brand. We are eager to bring more of the

award-winning Suzuki vehicles to more parts of the country so we hope to gain more partners to team up with and together achievesuccess,” Suzuki Philippines Director and General Manager for Automobile Division Keiichi Suzuki shares.

SPH invites investorpartners interested

to venture in the car dealership business to take advantage of this opportunity to open a Suzuki Auto dealership in the country. Interested parties may submit a letter of intent to sph_auto.dd@ suzuki.com.ph.

The following areas are currently available for SUZUKI/PAGE 11

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Opinion

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With protests now stretching into their 21st week, Hong Kong’s hotel and retail businesses are fighting to survive and hotel room rates in the historically pricey city have reached record lows.

A ne w re p or t f rom Bloomberg says some hotels are offering rates at onequarter of what they once were.

Several tourists shared s tor i e s w it h t h e n e w s organization of scoring record bargains in the city from hoteliers on the brink of collapse. For tourists who don’t mind visiting amid the protests, the city has suddenly become a very affordable vacation.

Hong Kong’s government

DAVAO MARKETING OFFICE Door 223, Doña Segunda Bldg., CM Recto Ave., Davao City Telephone #: (082) 298-8815 Regional Mktg Manager-JOE PALABAO- 0926-8430152 Circulation-JOHN PAUL AQUINO, 0907-331-5640

Member: Philippine Press Institute Oro Chamber

New relationship Think a minute…A recent study of fathers and their children was done in America with sho cking results. The study showed t hat t he average fat her spends only 37 seconds each day actually talking and listening to his child.

Inside our family, we can live separate lives in our own world. Even though we live together, we don’t really know each other and what each of us is feeling and going through. A teenager’s gravestone read: “Couldn’t you see that I was dying?”

Dad and Mom, sometimes we can read the weather signs better than we can read our own kids. Often we don’t know what they’re facing and feeling. We don’t know their fears, hurts, or frustrations.

Are we really listening and understanding each other?

Or do we just go through the motions every day, but actually close our ears and hearts to them?

Is it because we’re not really interested? Or do we simply not want to know the truth because we’re not sure how to handle it. We

THINK A MINUTE

JHAN TIAFAU HURST don’t want to be confused with the facts! Sometimes we parents choose to put our time and energy into our job and career because it’s easier than really dealing with our kids or our spouse.

But the more we escape from each other and our relationship challenges, the more distant and lonely we become.

Why not start a new relationship with your mate and children? Today, you can start changing. You can start tearing down the walls between you and your loved ones, and start building a new, closer relationship with them. First, we have to let go of old hurts and CIMAGALA/PAGE 9

meanwhile, has provided relief measures for everyone from the working class to firsttime homebuyers, as well as a stimulus package for taxi drivers and travel agencies. But for some reason, retailers and hotels were not included in the government’s support efforts, according to Bloomberg.

Between the protests and the U.S.-China trade war, Hong Kong’s economy is expected to get worse before it gets better. Experts are predicting a recession for the third quarter and there’s no talk of recovery anytime soon.

Arrivals to the destination fell 39 percent to 3.56 million visitors in August from one year earlier, according to Hong Kong Tourism Board data.

Hotel room occupancy has taken a similarly significant nosedive, declining by about one-third to 66 percent in August.

Facing such significant declines, the hotel industry has asked scores of workers to take unpaid leaves. As much as 77 percent of the industry’s workers have been presented with such a request.

The city’s restaurant and bar employees are faring no better.

Unemployment in that sector is at a six-year high, Bloomberg reported.

In August the Consulates updated its travel advisory for Hong Kong warning their citizens about potentially dangerous clashes between protestors and the local

NUTS & BOLTS

JEROME DE LA FUENTE government. The Consulates issued a Level 2 warning telling their citizens to exercise increased caution when visiting Hong Kong due to civil unrest and organized protests that have taken place there since June.

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MONDAY|OCTOBER 28, 2019

Hotel room rates in Hong Kong are plummeting as industry stuggles to survive

NELSON CONSTANTINO Editor-in-Chief

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IGNACIO BUNYE I was raised inside the Bureau of Prisons reservations in Muntinlupa. I studied at the Itaas Elementary School and later at the Muntinlupa National High School. I grew up with children of prison employees. I knew and interacted with prisoners up close. One of them, I found out many years later, was a convicted cop killer.

I was, in the words of locals, a “Batang Bilibid”.

My growing up years from 1945 to 1960 - coincided more or less with the term

of my father, Dr. Alfredo M. Bunye, Sr., who served as a pre-war penal superintendent in charge of the New Bilibid Prison, up to 1954 when he became Director of Prisons.

My earliest recollection as a toddler was the Guards’ Quarters. The ground floor was home to bachelor prison guards. My father, who was superintendent, was assigned the whole second floor as his official residence.

From our second floor window, I had a clear view of the façade of the iconic white edifice which was the Bilibid Prison. The prison’s compound occupied a nine hectare lot, which housed prison dormitories, ideally built for 3,000 convicts. It also housed the administrative offices, a prison hospital and a prison chapel.

Right in front of prison compound was the sunken garden. It served as parade ground for prison guards who marched to the tune of

the prison band under Prof.

Francisco. It also doubled as track and field oval where inter-school competitions were held.

Later, it hosted a wellmaintained 9-hole golf course where even children of prison employees got to learn their fundamentals from convicted golf pros. Prisoners served as caddies for 50 centavos per nine holes.

At one end of the garden is a man-made lake, garlanded by trees and flowers. In the middle of the lake stood a mini-Statue of Liberty.

Except for a wellpublicized prison failed prison break which occurred sometime in 1950 and the prison gangs rivalry around 1954, life inside the prison reservation was relatively quiet.

Both prison employees and prisoners attended the same masses inside the prison compound. The employees normally occupied the front

rows, while the prisoners occupied the back rows. We received communion from prison chaplain Benedicto Arroyo.

Illiterate prisoners were encouraged to enrol in adult education classes. Later, a high school and a college were established inside the prison in cooperation with the Perpetual Help College system.

Prisoners with higher academic training served in offices as “orderlies”.

Those with good conduct, (“deserving”, later known as “serving”) were allowed to do household chores in employee households between 8 a.m. and 5 p.m.

The pr is on hospit a l had adequate facilities, serving both employees and prisoners. My three siblings were all born inside the prison hospital, which at one time was headed by Dr. Bienvenido Alcantara. His wife, Dra. BUNYE/PAGE 9

I hope your first deal is a loser “I hope your first deal is a loser, other wise you’ll think you’re a lot smarter than you are.”

That was how Charles Koch described what his dad, Fred Koch, the founder of Koch Industries, told him before handing over the CEO leadership.

His advice was genuinely embraced by Charles, and he went on to grow the family business into a global giant with $115 billion in sales and 100,000 employees making it America’s secondlargest privately held family business next only to the Cargill group.

Koch Industries: The Biggest Company You've Never Heard Fred is credited as installing a strong work ethic in his children and Charles has often quoted his father as saying "I don't want to have any kids that are countr y club bums", adding that from as young as six he was expected to help out with the chores.

The family business was founded in 1940 that started with a method of refining heavy oil into gasoline, then oil refineries and pipelines.

But under the leadership of the second generation, the family business grew into a multinational conglomerate encompassing lumber, paper, chemicals, coal, fertilizer, and sophisticated financialtrading operations.

S e c ond s on C h arl e s has been chairman and CEO since 1967 and Forbes magazine estimates that siblings Charles and David are worth approximately sixty billion dollars each ranking them as America’s ninth-richest men.

Despite embedding a deep sense of traditional family values on the Koch children, unity and harmony was never a guarantee.

Wit h u ncl e ar r u l e s on management and ownership for family members, mounting challenges related to family and business relations became a constant

struggle. Eventually the pressures gave in to strained relationships amongst the offspring right after the father passed away.

Kochs vs Kochs C h a r l e s , D av i d a n d Bill followed their father in earning engineering degrees from the prestigious Massachusetts Institute of Technology. While eldest son Frederick was more of an outlier as his interest was into arts.

When the father died in the 1960s, Charles took charge. As the business grew, younger brother Bill, feeling sidelined and concerned over the company's direction joined forces with Frederick in 1980 and attempte d to uns eat Charles. The power struggle shook the organization and the Board stepped in and sided with Charles.

In 1983 Charles and David bought out their brothers' share. Unfortunately, more lawsuits followed, with Bill and Frederick alleging they

FAMILY BUSINESS COACH

PROF. ENRIQUE SORIANO had been cheated on the valuation. It would take almost two decades for a court to rule in favor of Charles and David and finally put a closure on this storied sibling rivalry.

The payout was resolved but the animosity was so de ep t hat t he brot hers ignored each other at their mother's funeral in 1990.

Blood and money usually spells conflict. And Bill emphatically calls it “a very explosive issue!"

Hubris is Just One Step Ahead of Loss of LOSER/PAGE 9

CorporateWorld 5 Nestlé PH appoints new Cement manufacturers media agency partner post higher Q3 earnings Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

MONDAY|OCTOBER 28, 2019

L

ISTED cement manufacturers saw higher earnings in the third quarter, as they focused on cost and operational efficiency amid a slowdown in construction activity.

Holcim Philippines, Inc. reported a 159% growth in attributable net income to P457.2 million in the July to September period, while Cemex Holdings Philippines, Inc. swung to a net income of P150.49 million from a net

loss of P5.78 million last year.

Holcim posted a 3% decline in net sales to P8.28 billion due to lower volumes of cement sold during the period, but “cost improvements across all our operations coupled with better prices of cement and aggregates” pulled up the bottomline.

For Cemex, net sales also went down 3% to P5.87 billion due to lower cement volumes from a slowdown in construction

PAL warns public vs. bogus ads FLAG carrier Philippine Airlines (PAL) has warned the public against fake advertisements recently circulating online.

At least two ads, with dates indicated as October 20 and October 23, claimed that netizens could win tickets from PAL as part of its anniversary.

"Once the perpetrators are identified, legal action will be taken against them.

We do not tolerate acts of misrepresentation, which aim to sow confusion, to the detriment of the

brand," PAL spokesperson Cielo Villaluna told the Philippine News Agency (PNA) on Friday.

The first ad requires users to answer some questions by clicking the options provided. The other one tells netizens they must click the "share" button and write "Thank you!" in the comments section.

The carrier has advised the public that such ads may compromise their data. Official announcements could PUBLIC/PAGE 9

activity. But gross profit climbed 7% to P2.42 billion because of an 8% reduction in cost of sales to P3.44 billion.

In the nine months to September, Holcim’s attributable net income increased 8% to P1.88 billion, while Cemex’s net income soared 1,066% to P1.18 billion.

“Our intensified focus on cost and operational efficiency across all our operations has allowed us to sustain high performance levels amidst a still muted market environment,” Holcim

Philippines President and Chief Executive Officer John Stull said in a statement Friday.

The company’s profit from operations stood at P2.94 billion at the end of September, climbing 17% from the same period a year ago.

“We have seen better pricing and a favourable product mix. With our new and improved cement production and dispatch facilities commissioned this year, we are ready to capture opportunities as the market grows CEMENT/PAGE 9

NESTLÉ Philippines, Inc. announced yesterday the appointment of GroupM Philippines as its new Media Agency of Record starting 1st of January 2020. It said the selection of Media AOR is for media strategic planning and buying covering both broadcast media as well as digital media.

The appointment covers all the brands of Nestlé Philippines, Inc. as well as its affiliates including Wyeth Philippines.

“The decision to award the business to GroupM was based on a strong combination of factors including strategic planning, digital communications including

e-business, programmatic and performance marketing, media buying efficiencies and leadership strength. With GroupM, we believe we have chosen a future fit partner that will strengthen both our traditional and digital media capability,” stated Paolo Mercado, Nestlé Philippines’ Head of Marketing, Communication and Innovation.

Consistent with industry best practice to periodically review the offerings of media agencies, Nestlé conducted the media pitch in the third quarter of 2019.

Nestlé’s globally-aligned MEDIA/PAGE 9

A World beyond 21st Century MARILYN C. DOLIENTE T-III SUNTINGON ELEMENTARY SCHOOL

What world like be, beyond 21st century? As a journalist of today, I am so eager to see the picture of a world with a strengthened freedom of information. Am so excited to see if how would it look like? Is it a world that equality is present?

Using technology in journalism is important in today’s world because it ser ves a variety of functions in many of the most important

aspects of modern society, like education, communication, business and scientific progress. During the past few decades, in particular, c o mp u t e r s h av e b e c o m e s u c h an integral part of society that technology has become a relied-on tool for most people period. The role and status of journalism, along with that of the mass media, has undergone changes over the last

two decades with the advent of digital technology and publication of news on the internet. Access to f reely available information g at h e re d by i n d e p e n d e nt a n d competing journalistic enterprises with transparent editorial standards can enable citizens to effectively participate in the political processes.

A journalist should know his rights and responsibilities.

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Billboard ‘Taiwan in Design’ Set to Grace Taiwan Expo 2019 in Davao MONDAY|OCTOBER 28, 2019

‘Taiwan in Design’ is a major project organized by TAITRA (Taiwan External Trade Development Council) that seeks to catalyze business transactions between Taiwan and the Philippine through design. The project will be featured in the upcoming Taiwan Expo 2019 in SMX, Lanang this November 8-9, 2019. This design showcase will demonstrate the designs of Taiwan as an important added-value for their products.

The exhibit will run under the theme "enjoy design, enjoy life", and will be presenting 50 select products that exhibit superior design and creativity. The products

which will be featured in the expo are some of the most awarded in the industry. They have received global design awards among iF, Red Dot, Taiwan Excellence, GIA, Tokyo Design and more. The 14 Taiwanese manufacturers will demonstrate how Taiwan transforms life inspiration into product value and enhance the beauty element of life and business. The works that will be displayed will show creative design comprising of traditional Taiwanese culture with emphasis on science and technology as well as remaining environmentally safe and promoting green technology.

Three graduates of Xavier University - Ateneo de Cagayan landed on the top ten spots of the October 2019 Chemical Technician Board Exam (CTBE).

3 Xavier Ateneo grads among topnotchers in chemical technician board exam Dave Pangilinan placed fifth, Mathew Talipan at seventh, while Kimnard Joseph Duat ranked tenth in the said exam.

Out of the total of 42 Xavier Ateneo takers, 36 of them successfully qualified as Chemical Technicians, giving the university a passing rate of 85.71%.

Graduates from other disciplines may take the Chemical Technician Licensure Exam as long as they have successfully completed at least 30 units of undergraduate Chemistry courses (both lecture and laboratory courses in General, Analytical, and Organic Chemistry) from a

CHED-recognized institution.

On the other hand, four out of eight Xavier Ateneo grads (passing rate of 50%) passed the October 2019 Chemist Licensure Exam (CLE), namely, Ivy Jane Caranzo, Caryl Mae Dorothy Dablio, Dave Pangilinan, and Angelika Uy. The Professional Regulation Commission (PRC) conducted the CLE on October 8 and 9 in the cities of Manila, Cagayan de Oro, and Cebu. Meanwhile, the CTBE was administered on October 10.

PRC reported that nationwide only 457 out of 1,085 (42.12%) passed the CLE while 2,298 out of 2,834 takers (81.09%) were

successful in the CTBE. Xavier Ateneo president Fr Roberto C Yap SJ, in this memo to the academic community, congratulated the new XU chemists and chemical technicians.

Yap also thanked the people behind these latest feats of the university, “We thank Arts and Sciences dean Dr Judy P Sendaydiego, Chemistry Department chairwoman Dr Analyn C Asok, and the faculty and staff of the Department of Chemistry for the guidance and support they have given to our students.”

Kia Cañete (left) dazzles in an Alquin Cap-atan while Alexis Narandan (right) in a Yolly Mondragon during the 17th anniversary of CDOTC celebration held recently at Ayala Malls Centrio in Cagayan de Oro City. photos by randy redondo as supplied

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MONDAY|OCTOBER 28, 2019

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Banking&Finance OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY

A PUBLIC SERVICE BY:

Bangko Sentral sees 6.5% domestic growth in Q4 '19 T HE latest assessment by Philippine monetary officials shows better growth figures for the domestic economy in the second half of 2019, with an expansion to as much as 6.5 percent in the last quarter.

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr. on Friday said estimates for the third quarter growth is 5.8 percent to 6 percent, higher than the 5.5 percent average in the first half of the year, on account of increase in government spending.

“And then for the fourth quarter, we are looking at a much-improved figure. Actually, 6.5 percent can be reachable by the fourth quarter,” he told reporters after the inflation briefing at the central bank office in Manila.

Government expenditures grew by 5.5 percent year-on-year in the first nine months this year, an improvement from contractions recorded in the early part of the year due to the inability of the government to spend according

to the program after the delay in the approval of this year’s national budget.

Authorities and economists alike forecast better growth results in the second half of the year since the national budget was signed into law last April.

Dakila said the impact of higher government spending on domestic output is expected to be enhanced

by Christmas season-related spending, which, in turn, will further benefit from the sustained deceleration of the rate of price increases.

Last September, inflation slowed further to 0.9 percent from the previous month’s 1.7 percent while the nine-month average is 2.8 percent, at the lower half of the government’s 2 percent to 4 percent target band.

The domestic inflation rate was elevated in 2018 due to supply-side factors, particularly because of higher rice prices that were pushed by low supply.

This problem was addressed

by the combination of monetary measures through the 175 basis points hike in BSP’s key rates and the boost in rice supply after the release of stocks from all National Food Authority (NFA) warehouses and the Rice Tariffication Law that took effect last March.

After peaking at 6.7 percent in September and October last year, the inflation rate has slowed although an uptick was recorded last May when it rose to 3.2 percent from the previous month’s 3 percent.

Dakila declined to give indications for the inflation figure for last October but noted that “coming from the pattern of inflation that we saw last year September and October were the high points.”

“And therefore just because of the base effects you will see the impact of the high inflation last year will be lower inflation,” he added.

The latest 2019 inflation forecast of the BSP is an average of 2.5 percent. (PNA)

Pag-IBIG’s plan to raise savings rate gets labor groups’ support THE HOME Development Mutual Fund (Pag-IBIG Fund) on Wednesday said labor and employer groups are backing its move to increase the three-decades old P100 monthly savings rate of members.

“The low interest rates of our home loans make home ownership within reach of our members, so much so that the availment of our home loans has grown tremendously. And for us to continue financing the growth in home loans of our members under such low rates, there is a need to increase our members’ P100 monthly savings,” Eduardo D. del Rosario, chairman of the Housing and Urban Development Coordinating Council (HUDCC) and Pag-IBIG Fund Board of Trustees, said in a statement.

Mr. Del Rosario said they have met with labor unions, OFW nongovernment organizations (NGOs),

employer groups, and other stakeholders to seek their views on the Pag-IBIG Fund’s plan to increase the membership savings rate to P200 a month by 2021. The P100 monthly savings rate has been unchanged for the last three decades.

Among the groups consulted were the Trade Union Congress of the

Philippines (TUCP), Philippine Government Employees Association (PGEA), Kapisanan ng mga Manggagawa sa GOCCs at GFIs (KAMAGGFI), Federation of Free Workers (FFW), the Filipino Migrant Workers Group, OFW NGOs, the National Anti-Poverty Commission (NAPC), and Employers

Confederation of the Philippines (ECoP).

“As we expect demand to remain strong with growth at around 15% annually in the coming years, we need to find additional sources of funds to sustain the low loan interest rates we currently offer to our members. Our proposal is to adjust the SAVINGS/PAGE 9

BSP cuts anew reserve requirement for some banks THE Bangko Sentral ng Pilipinas’ (BSP) on Thursday announced another 100-basis points reduction in the reserve requirement ratio (RRR) of universal and commercial banks (U/KBs), thrift banks (TBs), and nonbank financial institutions with quasi-banking functions (NBQBs) effective Dec. 2, 2019.

These brought U/KBs’

RRR to 14 percent, TBs to 2 percent and NBQBs to 14 percent.

To date, the central bank has slashed U/ KBs’ and TBs’ RRR by a total of 400 basis points and NBQBs by 300 basis points.

In a statement, the central bank said these cuts are “in line with the BSP’s broad financial sector reform agenda

to promote a more efficient financial system by lowering financial intermediation costs.”

“At the same time, the adjustments in reserve requirements ratios are aimed to ensure sufficient domestic liquidity in support of economic activity,” it added.

Asked why the central bank’s policy-making BSP/PAGE 9

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

PBCOM Tiano-HayesSt. Cdoc | 726519/8571558 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 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

8

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MONDAY|OCTOBER 28, 2019

Emano mihangyu nga dili dayon hukman si kahi besi mayor Acenas GIKASUBO ni Gobernador Bambi Emano ang kasinatian nga nahitabu ni Kanhi Besi Mayor Ian Acenas, suod nga higala ug kauban sa Partido PaDayon Pilipino didto sa dakbayan sa Mandaue, Cebu sa dihang na biktima tawon sa entrapment operation sa CIDG kuyog ang laing upat pa ka mga tawo.

“Dili lalim ang iyang kasinatian maoy hinungdan nga namalihug ko ni PIO Carlo Guzman Dugaduga nga ug mahimo matabangan si Vice Mayor Ian Acenas nga maadtuan ug abogado didto sa buhatan sa CIDG Region 7 kay si Carlo Dugaduga taga didto man ug nagtuo ko

nga naa siya’y mga kaila nga abogado nga makatabang ni Vice Mayor Acenas”. Pulong sa Gobernador.

Gi hang yu ni Emano ang mga katawhan nga dili lamang dayun hukman si Vice Mayor Acenas ug tugutan nga makapadayag sa iyang habig sa Publiko, sa balaud ug labaw na sa hukmanan.

Matud ni Emano nga Naila niya kaayo si Kanhi Vice Mayor Ian Acenas nga usa ka matarung nga tawo, tinuod nga higala, responsable nga kauban sa Partido ug labaw sa tanan matinud-anon nga alagad sa katawhan.

Gidugang pa niya “sama

sa akong amahan Dongkoy Emano nga maoy nagpili ni Acenas nga mahimong Besi Mayor sa Cagayan de Oro City kaniadtu tungod sa iyang dakung pagsalig niini, ingon

ana usab ang akong pag-ila kaniya kang kansang talaan sa pagserbisyo walay tatsa sa mga kontrobersiya, anomalya ug corruption”. Panapus nga pamahayag ni Emano.

SurSur province stands firm in the Whole of Nation Approach to End Insurgency Bayugan City , Agusan del Sur – The scheme continued but failed again for Bayan Muna Representatives, Eufemia Campos Cullamat and Carlos Isagani Zarate with the militant group, Malahutayong Pakigbisog Alang sa Sumusunod (MAPASU) to compel Surigao del Sur Provincial Government to pull-out the Community Support teams during the Peace Dialogue in Sitio Simuwao (Kilometer 9), Diatagon, Lianga, Surigao del Sur yesterday (October 21). The province cites that military presence is crucial to establish sustainable peace and development in the area through Executive Order No. 70.

The Peace Dialogue intends to promote reconciliation, convergence, sustainable peace and synergy through exploratory and consultative discussions with the community, concerned government agencies including AFP and other sectors. Yet, MAPASU and Bayan Muna insisted on their demand to pull-out the Community Support Teams and discrediting the government’s Whole of Nation Approach to End Local Communist Armed Conflict citing that it is not the right formula to end the conflict in the community.

The military, as an observer, never said a word but a clear and straightforward message of the province through the governor summed it all.

“With all due respect, I must tell you frankly, only President Rodrigo Roa Duterte, the Commander-in-Chief of the Armed Forces of the Philippines (AFP), can order the Army personnel to move anytime and anywhere when needed.

They have a mission to fulfill in line with the Whole of Nation approach to end local communist armed conflict that is very crucial to our national security,” Governor Alexander Pimentel, said.

The presence of the military is not the issue said the governor and encouraged all attendees to move forward and focus on far more relevant issues on Education, Health, and Economic etcetera and let the military do their mandate and sworn duty to

serve and protect the Filipino people from the Communist NPA Terrorists (CNTs) MAPASU and Bayan Muna discredit EO 70 and the AFP Bayan Muna and MAPASU members strongly and vocally opposed the peace and development initiatives of Executive Order Number 70 and cited rehash false and malicious accusations against the military.

The governor challenged them, “ Sabihin ninyo at ituro ngayon kung sino ang sundalo na nandito sa KM 9 ang nagcommit ng violation at ipatanggal ko agad o paalisin dito,” he said.

Those who accused cannot even present substantial evidence and pinpoint any Army personnel making their statements false and invalid. In fact, the ICRC is always present in the area because of their development project in KM 9 and constantly coordinates with the IP community and the Community Support Teams.

Datu Constancio Duhac and Datu Jumar Bucales said, “Only those who are connected with the Communist NPA terrorists fear the Army. If you’re not in any way connected, there’s no reason to fear the military.”

The Lianga IP Council under their legitimate IP Political Structure show dismay to Bayan Muna,”We thought they would support ELCAC (End Local Communist Armed Conflict) , but then again, they were not here for convergence, they are here to discredit the military and the EO 70 peace initiatives,” they said.

Nevertheless, despite Bayan Muna and MAPASU’s accusations, the Army personnel did not retaliate and showed respect. It is the local government and the IP Community who stood on their ground to defend the presence of military in the conflict affected area.

On significant issues Bayan Muna representatives cited the issues on Mining, Education and Economy. Representative Cullamat and MAPASU said that due to the military’s presence the farm production outputs

decreased.

The IP Community opposed it saying that their farm produce significantly increased because the farm-to-market road was rehabilitated with the effort of the Lianga IP Council, 3rd Special Forces Battalion, 544th Engineer Brigade, the Provincial Government and Lianga LGU. The rehabilitated road made it easy for the residents to transport their agricultural products from KM 9 to the market.

Cullamat and MAPASU accused that the reason for development is because of the coal mining interests of private investors. The provincial government said that there is no issue here because they have the right for self-determination and can oppose or prohibit anyone from operating in lands covered by their ancestral domain.

On the education, no one in the government deprives the right of any IP to education. In fact, the provincial government plans to construct school buildings and even encourage ALCADEV and TRIFPSS to comply the requirements so that the DepEd can fully intervene on these schools to provide quality and much better education. Yet, MAPASU refused. So, it was very clear that MAPASU is the one who deprives the IP to have quality education.

The call for inter-agency, inter-sectoral synergy and convergence to address issues Despite the call of the IP leaders, the Community, the AFP, the Provincial and Municipal Local Government Units to converge and address issues and stand with the President’s order to end communist armed conflict through a Whole of Nation Approach, Bayan Muna and MAPASU refused. This makes it clear that they did not come for genuine peace but rather, they came to further aggravate the issues to cause protracted conflict.

The question to the prior published statement to Cullamat and Bayan Muna, “Will genuine Peace prevail or another scheme to play?” had been clearly answered by them.

9

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MONDAY|OCTOBER 28, 2019

Cimagala... from page 4

anger toward each other.

We must choose to forgive them and begin again. We also must stop having such unfair, high expectations of our kids, wife or husband, so they feel that we’ll only love them if they do what we want.

You see, it all begins with starting a new relationship with the One Who gave us e a ch ot he r. In f a c t , Jesus died just so you and I could be forgiven of all our wrongs and enjoy a daily, personal relationship with Him. So why not ask Jesus to forgive you and take charge of your new life with Him? He’s the One Who can give you His kind of love and power you need every day to start building and enjoying the close, happy family you want.

Just Think a Minute…

Loser... from page 4

Integrity Learning from the conflict with his brothers that left a deep scar in the family, Charles now 83, would always say, “Hubris, arrogance is just one step ahead of loss of integrity, because if you think you’re better than other people, you know more, then you’re going to think as many leaders have that the rules don’t apply to them. So they lose their integrity.”

To r e i t e r at e w h at I highlighted in my previous article, allow me to borrow a quote from Charles Koch when he said, “Success is one of the worst enemies of success, because success tends to breed complacency and lack of humility.”

Consultant Steve Tobak has an abridged version, “hubris kills businesses, and humility saves them.”

Bunye... from page 4

Avelina Alcantara, was a beloved figure, respected by prisoners. She could walk among prisoners, unescorted, at any time of day or night.

Prisoners had regular sports events. Many excelled in boxing and softball.

Mov i e s we re s h ow n regularly in open theaters, inside and outside the compound.

During Christmas, movie personalities would have shows inside the compound.

Ma Mon Luk, the Mami King,

regularly gave away boxes of his famous siopao.

Prisoners in Muntinlupa w e re k n ow n f o r t h e i r handicraft and excellent wood work. Inside the President Ramos Conference Room of Malacanan Palace, one can find a huge rectangular table made partly of narra and partly of mahogany.

The table was made by prisoners way back in 1937 and was given as a gift by the Prisons Director Eriberto Misa to the late President Manuel Quezon.

The table top is supported on both ends by massive legs which have intricate carvings, depicting women, kneeling back to back, carrying the table top on their shoulders.

Former Malacanan Museum Curator Jeremy Barns says that President Quezon was so impressed with the furniture that he pardoned the prisoners who carved the massive table.

The prisoners’ names have since been inscribed on the underside of the table top.

My cousin, Bel OlivaresCunanan, who as a teenager had the chance to visit our home (the Director’s Quarters, after my father was appointed as Director of Prisons) described the prison reservation as “idyllic”.

The circumferential road which led to the main prison was lined with decadesold mahogany trees. The Director’s Quarters, a pre-war two floor structure, was made of the finest wood and had intricately adorned furniture made by prisoners. Easily one of the tourist attractions, at that time, the quarters had a Japanese-style pond, a 20 meter pool, a social hall and had a large orchard of fruitbearing trees, principally caimito.

A variety of birds also made the reservation their home. It was earlier declared a bird sanctuary by Director Bunye.

Writer Romeo P. Virtusio wrote a ver y nost algic account of his boyhood years – “Bilibid: growing up beneath prison walls.” In his foreword, National Artist Bienvenido Lumbera said the book described that period “when life in the early years of the present republic were relatively free of the frenzy of the Philippines of the 21st century.”

Decades later, It is so difficult for us former Batang Bilibid to comprehend and accept what had happened to the Bilibid of our youth - once

ranked as among the best-run reformatory institutions in Asia.

Writer Jarius Bondoc, in a scathing commentary of the present-day Bilibid, said: “All the major crimes happening nowadays are plotted inside Bilibid.”

Note: Feel free to share the foregoing via Facebook, Twitter or Linked-In.

Battle... from page 2

of Korea.

World War II Filipino veterans, who formed the main local resistance force against the Japanese forces in Surigao City, were also present during the rites, together with Retired Royal Admiral Guy Richmond Griffiths and David Henry Mattiskie.

Griffiths, now 97; and Mattiskie, 96, were onboard the HMAS Shropshire, an Australian gun cruiser that fought alongside the US Navy during the Battle of Surigao Strait.

Hi s t o r i c a l a c c o u nt s described the Battle of Surigao Strait, which took place at the dawn of October 25, 1944, as the “last big gun battle” and the “greatest triumph of the US Navy” during World War II in the area.

Forces involved during the Battle of Surigao Strait include the US Seventh Fleet under the command of Admiral Thomas Kinlaid.

US warships were supported by the Australian gun cruiser HMAS Shropshire and the destroyer HMAS Arunta.

During the battle, the a l lie d forces face d t he S out he r n Force of t he Japanese Navy led ViceAdmiral Shoji Nishimura with the support of Japan’s Fifth Navy Fleet under the command of Vice-Admiral Kiyobe Shima.

Six Japanese warships were destroyed during the battle, including Fuso, Yamagumo, A s a g u m o , Ya m a s h i r o , Michishio, and Mogami.

Vice-Admiral Nishimura also died during the battle when his battleship Yamashiro sank, a historical account for the event stated.

Vice-Admiral Shima and his fleet retreated after seeing defeat, the account added.

Around 4,000 Japanese and 39 American sailors perished during the battle.

The t r iumph of t he allied naval forces of the US and Australia in the Battle of Surigao Strait saved the liberation forces of Gen. Douglas MacArthur that landed in Leyte Gulf on October 20, 1944, the historical account said.

“We are gathered here to honor those who have dedicated and sacrificed their lives for the attainment of peace,” Mayor Matugas said in his message during the commemoration rite.

The memorial site in Punta Bilar, he added, will immortalize the heroes of the Battle of Surigao Strait and will be remembered by the next generation.

“Let us continue to live in peace and avoid conflict in whatever form, manner or guise. Let us respect each country’s beliefs, embrace our cultural differences, and rejoice in our diversity," Matugas said.

In his message, Col. Clark considered the Battle of Surigao Strait as the greatest naval battle of World War II. Clark said the Battle of Surigao Strait and the landing of Gen. MacArthur in Leyte marked the fulfillment of a solemn promise that America would stand strongly with the Philippines.

“Standing here with my Filipino, Australian and Japanese friends, I’m reminded that today gives

us a chance to renew and strengthen the bonds that tie us together as friends, partners, and allies,” he added.

A floral offering at sea was placed near the area where the Battle of Surigao Strait took place. (PNA)

Cement... from page 5

and deliver innovat ive products and solutions to our customers,” Mr. Stull said.

Cemex, on the other hand, noted that “net income for (the nine months) benefited mainly from higher operating earnings, foreign exchange gains and lower income tax expenses.”

Cemex was able to record a 46% growth in operating earnings to P2.12 billion during the nine-month period, as foreign exchange gains stood at P128 million from a foreign exchange loss of P546 million last year, and income tax expenses trimmed 60% to P303 million.

Public... from page 5

Media... from page 5

media networks were invited to the pitch, including incumbent agency Zenith Media from Publicis Group, IPG Mediabrands, and Dentsu Aegis Network.

“We wish to take this

NOTICE FOR PUBLICATION

from page 7

members’ savings rate to P200 per month by 2021, w h i ch w i l l b e matche d by an equivalent amount by their employers,” PagIBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti.

M r. M o t i s a i d t h e adjustments will provide the agency additional funds to address its loan demand which will allow interest rates on its home loans and calamity loan to remain low at least until 2024.

BSP...

Mon e t ar y B o ard ( M B ) excluded RBs in the latest RRR cut, BSP Governor Benjamin Diokno said the B oard considers RBs’ 3 percent RRR level as “the appropriate level.”

“For prudential reason, further cut is deemed not prudent,” he said in a reply to a Viber message from the Philippine News Agency (PNA).

To date, the MB has slashed RBs’ RRR by a total of 200 basis points --100 basis points each last May and last September.

Reserve requirement of cooperative banks was cut by 100 basis points last May. These cuts are meant to make Philippine banks’ RRR level at par with their counterparts in the region.

(PNA)

Publication Notice Republic of the Philippines Province of Misamis Oriental Municipality of Initao -oOo-

Office of the Municipal Civil Registrar R.A. 10172 (Gender)

Savings...

from page 7

only be found on PAL's o f f i c i a l w e b s i t e w w w. philippineairlines.com and official social media accounts' handle, @flypal, the carrier added.

Earlier in February, PAL also faced a scam, wherein ads circulating online were claiming the airline would give business class tickets to 800 people.

Those fake ads claimed that the 800 tickets would be given "to celebrate 15 years" of PAL. (PNA)

Republic of the Philippines Region X Province of Lanao del Norte Municipality of KAPATAGAN

opportunity to thank Zenith Media for its many years of excellent work with Nestlé Philippines. We look forward to a fruitful partnership with GroupM as we move the business forward,” Mr. Mercado said.

The app ointment of GroupM Philippines will be subject to finalization of contract terms that will happen in the coming weeks.

NOTICE TO THE PUBLIC CCE-0044-2019 R.A. 10172

Any person adversely affected by said petition may file his written opposition with this Office not later than 15 days.

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No. 1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that MARICEL B. JANUBAS has filed with this Office, a petition for change of first name from “ “ to “ “ and correction of entry is sex from “ MALE” to “ FEMALE” or correction of entry in the date of birth from “ “ to “ “ in the certificate of live birth of DANNY JIN B. JANUBAS at Initao, Misamis Oriental and whose parents are DANNY C. JANUBAS and MARICEL D. BULLECIR.

Any person adversely affected by said petition may file his written opposition with this Office not later than November 13, 2019.

In Compliance with Rule 7 of R.A. 10172. A notice is hereby served to the public that KEANNE MARIO MARIQUIT has filed with this Office a petition for Correction of Clerical Error - Change of Gender from "MALE" to "FEMALE" in the Certificate of Live Birth of KEANNE MARIO MARIQUIT who was born on November 9, 1998 at TAGUITIC, KAPATAGAN, LANAO DEL NORTE and whose parents are RICHARD JARABE MARIQUIT and RUTCHEL SALEM MARIO.

(SGD) IVY REYES TONGCO Municipal Civil Registrar

BWM: Oct. 28 & Nov. 4, 2019

(SGD) ISAIAS A. JARALES Municipal Civil Registrar

BWM: Oct. 28 & Nov. 4, 2019

Republic of the Philippines Region X Province of Lanao del Norte Municipality of KAPATAGAN

Republic of the Philippines Region X Province of Lanao del Norte Municipality of KAPATAGAN

Publication Notice Republic of the Philippines Province of Misamis Oriental Municipality of Initao

Office of the Municipal Civil Registrar

Office of the Municipal Civil Registrar

NOTICE TO THE PUBLIC

R.A. 10172 (Gender)

R.A. 10172 (Gender)

CFN-0009-2019

NOTICE FOR PUBLICATION

NOTICE FOR PUBLICATION

In Compliance with Rule 7 of R.A. 10172. A notice is hereby served to the public that DARYL REYES GILLAMAC has filed with this Office a petition for Correction of Clerical Error - Change of Gender from "FEMALE" to "MALE" and to correct the child's middle name from "SALAGUNTING" to "REYES" in the Certificate of Live Birth of DARYL SALAGUNTING GILLAMAC who was born on December 10, 1986 at MAHAYAHAY, KAPATAGAN, LANAO DEL NORTE and whose parents are ANGELO A. GILLAMAC and ALICE S. REYES.

In Compliance with Rule 7 of R.A. 10172. A notice is hereby served to the public that CHARLIE RESPUESTO SEGOVIA has filed with this Office a petition for Correction of Clerical Error - Change of Gender from "MALE" to "FEMALE" in the Certificate of Live Birth of CHARLIE VALDEZ RESPUESTO who was born on JULY 22, 1978 at MABUHAY, KAROMATAN, LANAO DEL NORTE and whose parents are MACARIO RESPUESTO and ELENITA VALDEZ.

Any person adversely affected by said petition may file his written opposition with this Office not later than 15 days.

Any person adversely affected by said petition may file his written opposition with this Office not later than 15 days.

BWM: Oct. 28 & Nov. 4, 2019

(SGD) IVY REYES TONGCO Municipal Civil Registrar

October 21, 2019

BWM: Oct. 28 & Nov. 4, 2019

(SGD) IVY REYES TONGCO Municipal Civil Registrar

October 15, 2019

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No. 1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that MARY JOY Q. DACU has filed with this Office, a petition for change of first name from “JOY” to “MARY JOY” and correction of entry in sex from “ “ to “ “ or correction of entry in the date of birth from “ “ to “ “ in the certificate of live birth of JOY L. QUITORIANO at Initao, Misamis Oriental and whose parents are EDUARDO G. QUITORIANO and LEONILA V. LLAUDERES.

Any person adversely affected by said petition may file his written opposition with this Office not later than November 6, 2019.

BWM: October 21 & 28, 2019

(SGD) ISAIAS A. JARALES Municipal Civil Registrar

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Monday|October 28, 2019

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CDO Handmade Paper wins Sustainability Award for Pinyapel Compiled by MIKE BAÑOS

CAGAYAN de Orobased specialty paper innovator and producer CDO Handmade Paper has been awarded by the D and AD Future Impact Awards for its Pinyapel in the Environment and Sustainability Category last October 25 in New York City.

According to F & B Report. PH, Pinyapel (a portmanteau of pinya for pineapple, and papel meaning paper) is a locally-processed and manufactured specialty paper from locally-sourced waste pineapple leaves from plantations in Bukidnon.

“When the Design Center of the Philippines (DCP) approached me for possible project collaboration, I immediately said yes because we have the same goal, that is the protection of our environment,” said Lolita Cabanlet, general manager of CDO Handmade Paper.

DCP is an attached agency to the Department of Trade and Industry committed to strengthening the Philippines’ design ecosystem, “DCP’s Materials Research and Development Division prepared the technical study and we produced the paper according to the DCP formula,” Cabanlet said.

“Nature’s Fresh provided the pineapple leaves for experimentation and Ideatechs Packaging Corporation the technology to utilize Pinyapel for consumer and packaging products,”.

With the growing demand for sustainability locally and globally, the pinyapel development is aimed at encouraging a circular economy that

increases livelihood in farming communities and generates commercialization opportunities while giving new value to agricultural wastes.

“We drew inspiration from promoting a plasticfree lifestyle, “ said. “With Pinyapel, we aimed to create a paper that dissolves into the waterways, leaves no trace and should be a product from recycled farm wastes.”

According to Windowseat.PH , pineapples are huge local commodities, with plantations found all over the country. Region X (Northern Mindanao) is the Philippines No. 1 producer of Pineapples.

Over 706,046 metric tons of pineapples were produced in the fourth quarter of 2018, and with those millions of pineapples comes millions of disposed pineapple leaves. Rather than leaving them to rot, local innovators have found another purpose for them: paper.

The best part is that the material can be used for packaging, particularly in the foodservice industry.

Besides reducing the amount of agricultural waste produced, the project has also become a means of income for farmers.

“For every cycle of

drying, collecting, and bagging of five tons of pineapple leaves, approximately P1, 753 is added to the weekly income of every seven pineapple laborers,” says Aleli Mae Uy, chief operating officer of Nature’s Fresh Pineapples, pinyapel’s supplier of pineapple leaves.

Cabanlet notes how timely pinyapel’s development is given the growing discussion on ecological consciousness and sustainability.

“Aside from the local market, there is a huge

demand for a food-safe pineapple paper itself from other countries, thus, export opportunity for it is bountiful,” she added.

Moving forward, Del Monte Philippines has expressed their support and willingness to supply the needed requirement for pineapple leaves as Ideatech converts Pinyapel into consumer and packaging products.

Cabanlet foresees Pinyapel scaling up production to a commercial volume to attain favorable price points even as it replaces non-biodegrable

plastics what has become a worldwide threat to the environment.

D&AD Impact exists to recognize creative ideas that are driving positive change. It does so by elevating purposeful products, initiatives and campaigns; by accelerating projects with the potential for impact through a 12-month Future Impact programme; and by educating brands and entrepreneurs on incorporating purpose into their business strategy.

The program’s website explains: “Through our Future Impact Programme, we aim to support great ideas that have the potential to change the world.”

“Up to 10 winners will have access to a shared prize fund worth $150,000 and delivered over 12-months. The fund combines consultancy, mentoring, master classes

and development grants, as well as access to a creative, peer-driven network.”

“Our mission? To enable our first cohort of Future Impacters to deliver tangible impact in their category area within 12 months.”

The Future Impact Programme is supported

by McCann Worldgroup, Makerversity, BLOOM. SPACE, Year Here and Social Impact 360.

This award-giving body, which will formally honor Pinyapel in an awarding ceremony on November 6, recognizes “creative ideas that are driving positive change” by “elevating purposeful products, initiatives, and campaigns,” as well as “educating brands and entrepreneurs on incorporating purpose into their business strategy.”

For a better understanding of Pinyapel, follow to the following link to this video:

https://0a50c329b9b127b28d3b-a1f681a23fc0991ea5 4609f0f6eaf670.ssl.cf3.rackcdn.com/0dbbb0e6-df7a11e9-b7cc-bc764e08535e/1280x720.mp4

11

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MONDAY|OCTOBER 28, 2019

Smash... from page 3

to 2002 when it was first launched as Smash 110. In 2010, it was re-launched with a bigger 115cc engine and since then had been one of the most popular choices of the Filipinos, beginners and enthusiasts alike in getting a practical ride.

The Suzuki Smash is equipped with a 4-stroke 115cc carburetor engine which combines accessible resp onsive p ower w it h excellent fuel efficiency. It has eco-friendly features such as the Pulse Secondary Air Injection System (PAIR) which injects fresh air to help ignite unburned gases in the exhaust port, a large 100mm body diameter muffler which enhances performance while keeping noise low and a large oxidation catalizer which reduces emission of harmful gases.

The Smash’s design is inspired by the renowned GSX-R with a host of highquality details giving a total riding satisfaction while exuding a sporty image. It has a diamond type chassis with key specifications of 26 caster angle, 64mm trail and 1,240mm wheelbase to deliver a user-friendly combination of smooth handling and comfortable straight-line running in various riding conditions.

Fitted for the modish taste of the young riders, the Smash comes in a wide array of Stylish Colors – (drum/ drum brake) in the new Jackal Green, Pink, Violet, Black, Matte Black, Red and Yellow with an SRP of Php 58,400 and (disc/drum brake) in Blue and Matte Gray with an SRP of Php 61,400.

Suzuki... from page 3

opening a Suzuki Auto dealership: Luzon 1. Bulacan 2. Camarines Norte 3. Oriental Mindoro 4. Cagayan 5. Cavite 6. Ilocos Sur 7. Las Piñas 8. Oriental Mindoro 9. Quezon 10. Sorsogon 11. Taguig 12. Zambales Visayas 1. Antique 2. Lanao Del Norte 3. Masbate Mindanao 1. Agusan Del Sur 2. Bukidnon 3. Cotabato 4. Lanao Del Norte 5. Surigao Del Norte 6. Zamboanga Del Norte As it climbs up the industry ranking with its continuous positive growth throughout the years, SPH drives its goal of reaching more Filipinos through various marketing initiatives. SPH brings quality driving experience to local and provincial markets with its passenger cars and commercial vehicles.

“It has always been the brand’s commitment to introduce innovative vehicles and deliver quality service that

is accessible and convenient.

It is our pleasure to offer our products and services to motorists in every major urban areas and provinces in the country so that we can share the Suzuki Way of Life with more Filipinos,” added Keiichi Suzuki.

For more information about Suzuki Philippines and its car dealership business plans, please visit www. suzuki.com.ph.

Peace... from page 1

invited business leaders and representatives from the private sector.

Sec. Hermogenes Esperon Jr., National Peace Adviser, said that the event was a first in the country and will likely to be replicated in other regions.

Esperon said he was el ate d w it h t he "war m reception" from business leaders, who welcomed the possibility of integrating their CSR programs with the government povertyreduction initiatives aimed at countering the communist New People's Army (NPA).

"We have been partners with the civilians (in the RTF Elcac), but we are expanding the partnership by inviting the business sector to visit the communities," he said.

P r e s i d e n t i a l Communication Operations Office (PCOO) Sec. Martin Andanar, who also serves as the Cabinet Officer for Regional Development and Security (Cords) for Northern Mindanao, said the "whole of nation approach" must also include the private sector.

"We leave the manner and form of this authentically renovated corporate social r e s p o n s i b i l i t y, t o t h e resp ective wis dom and expertise of our corporate partners," Andanar told the over 400 forum participants.

The for um was also joined by local officials and representatives from national line agencies, including military officials from the 1st and 4th Infantry Divisions.

Dr. Irene Floro, president of the Cagayan de Oro Chamber of Commerce, expressed interest in the concept of a public-private partnership in addressing the country's long-running insurgency problem.

"We (in the business sector) already have CSRs in the past, but this time is better because it's given emphasis (on the reduction of NPA influence in communities)," she said.

Floro said President Rodrigo Duterte's Executive Order 70, which institutionalizes the "whole of nation approach" in ending the communist insurgency, was "timely" as it could help protect investors while addressing peace and order.

Steag State Power Inc. communications officer Jerome Soldevilla said they are glad to take part in the conversation exploring the role of CSR in contributing to the government's goal of reducing poverty in rebelinfluenced communities.

"Throug h t he ye ars,

Steag has always been at the forefront of CSR efforts because we believe it is the right thing to do. The role of business has expanded beyond creating shareholder value to addressing shared concerns on peacebuilding, inclusive social development, and environmental conservation," Soldevilla said. (PNA)

Competitive...

from page 1 Leading the Mindanawon cities and municipalities, Davao City, the only highly urbanized city outside Luzon that made the cut, emerged as the third overall most competitive highly urbanized city.

Mambajao, on the other hand, placed first overall most competitive town in the third to sixth class municipalities category.

Davao tailed behind the cities of Quezon and Manila, adjudged as the first and second most competitive highly urbanized cities, respectively.

Davao’s ranking this year improved from fourth in 2018.

According to NNC, the cities and municipalities are ranked on their competitiveness based on an overall competitiveness score, the sum of scores on four main pillars—economic dynamism, government efficiency, infrastructure, and resiliency.

It s a i d D av a o C i t y placed third for government efficiency, infrastructure, and resiliency, except for economic dynamism where the city placed second, behind Pasay, in highly urbanized cities category, according to NNC. A s i d e f r o m D a v a o, Cagayan de Oro placed second in resiliency pillar among the highly urbanized cities in the Philippines.

Tagum in Davao del Norte placed second in government efficiency while Koronadal, second in resiliency among component cities.

Meanwhile, Mambajao placed first in economic dynamism and third in gove r n me nt e f f icie nc y.

Joining Mambajao is Magsaysay, Davao del Sur, adjudged as third in resiliency.

Ta n g u b , M i s a m i s Occidental was declared s e cond most improve d component city while Tabina in Zamboanga del Sur as most improved town in the category of third to sixth class municipalities.

Festival... from page 1

The 40th Lanzones Festival is one of the island’s major attractions and was established to celebrate the bounty of the lanzones fruit, considered as the sweetest in the country.

Among the highlights of the festivities is the street dancing competition held in Mambajao Saturday.

Camiguin is named the fourth Most Competitive Prov ince in t he Cit ies and Municipalities C omp e t it ive ne ss Ind e x Awards out of the 84 provinces

in the country, according to Gov. Jurdin Jesus Romualdo.

The distinction, now its seventh year, was bestowed on des er ving LGUs by the Department of Trade and Industry through its Competitiveness Bureau.

In consonance to that award, the province’s capital town of Mambajao also bagged the Most Competitive Municipality award for the 3rd to 6th Class Municipalities Category.

Aside from that, Mambajao has won the Best in Economic Dynamism and the 3rd place in Government Efficiency for the same category.

Awards are given to LGUs in four categories, namely, 3rd to 6th class municipalities, 1st to 2nd class municipalities, component cities, and highly urbanized cities.

Romualdo said it has always been the vision of develop the island-province with sustainability and environmental consciousness in mind.

“We worked hard for this,” he said, referring to the awards, “to make Camiguin a better place for us and for our guests.”

To realize this, Camiguin has to take measures that would ensure food and power security for the island, he said.

Romualdo said they are now working to implement a province-wide agriculture program that would encourage Camiguinons to plant crops so they would not have to depend on the mainland Mindanao for their food requirement.

On its drive for a more fossil fuel-free energy, the provincial government will be putting up solar panels and windmills in the island, he said.

The province will also be regulating its water supply starting next year as a way to prevent a water crisis that is being experienced in Metro Manila at present.

“We will not wait for the time that we will suffer because of water shortage.

We have to act now,” the governor told the crowd at the coronation of “Mutya sa Buhawanan” beauty pageant held at the provincial capitol grounds Friday night.

Wit h t h e s e f utu re programs in the pipeline, Romualdo said it wouldn’t be a surprise if Camiguin will reap more awards.

“We will just keep on working hard for the good of Camiguin, for the good of its people,” he added.

Project... from page 1

made the pronouncement af ter he dre w f l a k for saying that the Office of the President will lift the order suspending the Environmental Compliance Certificate (ECC) given to Sagittarius Mines, Inc. (SMI), the operator of the Tampakan project.

Gacad’s pronouncement was published on October 21 by the Philippine News Agency (PNA) in an article titled “Tampakan mining project to go full-swing soon:

MGB-12,” which was picked up by other media outlets.

The PNA has taken down the article upon checking Wednesday night.

“As of the latest, there is already a timeline for the lifting of the suspension of the ECC because the Office of the President has already decided to that effect,” the state-run news agency quoted him as saying, based on an interview by a local radio station in Koronadal City.

MindaNews obtained the recording, which appropriately quoted Gacad as saying in the PNA report.

In his statement, Gacad belied that the company’s operation will go full-swing in the coming months.

“Although there is a pending request to lift the suspension of SMI’s ECC, this is just one requirement that the company needs to secure,” he said.

The late Environment Secretar y Gina Lopez cancelled more than two years ago SMI’s ECC because it will employ open-pit mining.

President Rodrigo Duterte himself ordered a ban on the open-pit mining method.

Gacad said that SMI also needs to secure the Certificate Pre-Condition from the National Commission on Indigenous Peoples.

The other challenge for the company is the openpit mining ban imposed in 2010 by the South Cotabato provincial government, he added.

SMI declined to comment on Gacad’s pronouncement when sought for reaction Thursday.

Jaybee Garganera, national coordinator of Alyansa Tigil Mina, slammed Gacad’s pronouncement as “lawyering for the mining industry and creating confusion.”

“We do not know from what planet Engr. Gacad is getting his information giving him misplaced optimism about the re-activation of the ECC for the Tampakan project,” Garganera said in an email.

Diocese of Marbel Bishop C erilo Casicas recently vowed to sustain the local Catholic church’s opposition a g a i n s t t h e Ta mp a k a n project on concerns over the environment, food security and human rights.

The prelate urged the national government not to renew the firm’s 25-year Financial and Technical Assistance Agreement (FTAA), which was granted on March 22, 1995.

The FTAA covers about 10,000 hectare straddling the towns of Tampakan in South Cotabato and Kiblawan in Davao del Sur, according to the latest company briefer.

Previously, the firm included Columbio in Sultan Kudarat as part of its project area.

Based on the firm’s studies, the Tampakan project has the potential to yield an average of 375,000 tons of copper and 360,000 ounces of gold in concentrate per annum in the 17-year-life of the mine.

Lately, supporters of the Tampakan project have aired advertisements over local radio stations pushing its operations for its economic benefits.

The Mindanao-grown conglomerate Alsons Group, t h rou g h A l s ons Pr i m e Investments Corp., owns the controlling stake of SMI following the exit of AngloSwiss miner Glencore plc in 2015. The deal was worth US$290 million.

In a December 2016 Philippine Daiy Inquirer report, SM Investments Corp. chief finance officer Jose Sio confirmed ongoing talks for the SM group to invest in the Tampakan mine, as a majority stakeholder.

Updates could not be obtained in the meantime if the deal had succeeded.

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Feature 12 War of Our Fathers exhibit wows them in Tacloban Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

MONDAY|OCTOBER 28, 2019

T

HOUSANDS are visiting the War of Our Fathers exhibition at Robinsons Place, Tacloban each day in celebration of the 75th anniversary of the Leyte Gulf landing of General Douglas MacArthur during World War ll.

Presented by the Philippine Veterans Bank, the exhibition which runs until October 25, 2019, features several Filipino freedom fighters across the country and, in a capsule, narrates the liberation of the Philippines through hundreds of photographs from war archives, artifacts, diorama, life size figures and war history documentaries on the big screen.

The exhibition was officially opened on October 18, 2019, Friday,

by Mr. Renato A. Claravall, president of Philippine Veterans Bank and assisted by Atty. Frederico A. Manalo, Director of Philippine Veterans Bank, Vibeth Gajitos, Branch Group Sales Head First Vice President, and Eden Ruth Lozada Baleton, Regional Operations Manager of Robinsons Malls Leyte, and was accompanied by two surviving veterans, Jose T. Jacla, Region VIII President of Veterans Federation of the Philippines, and Gregoria Badeo, Women Auxiliary Service of Burauen, Leyte.

War of Our

Fathers was made possible with the support of the Provincial Government of Leyte, and City Government of Tacloban, with Robinsons Place Tacloban, Summit Hotel Tacloban, Go Hotels and Philippine Veterans Bank.

(From Left to Right: Eden Ruth Lozada Baleton, Gregoria Badeo, Atty. Frederico A. Manalo, Renato A. Claravall, Jose T. Jacla, and Vibeth Gajitos)