BusinessWeek Mindanao (October 31, 2013)

INSIDE LOOK

Oro Chamber’s new set of trustees elected

Nestle trains farmers to grow coffee

Economy Special

Agri-Business

PAGE 14 & 15

Corporate bids lift dollar vs peso Banking & Finance

PAGE 16

PAGE 17

SIPR-CDO celebrates 37th Charter Anniversary Lifestyle

MINDANAO DAILY NEWS SECOND SECTION

www.businessweekmindanao.com

Market Indicators

As of 6:02 pm oct. 30, 2013 (Wednesday)

FOREX

PHISIX

US$1 = P43.10

6,597.21 points

5 cents

X

53.75 points

X

Briefly ‘No work, no pay’ NOVEMBER 1, All Saints Day, Friday is a special non-working day, pursuant to Proclamation No. 459 issued by President Benigno S. Aquino III. Saturday, Nov. 2, falling between Nov. 1 and Sunday, Nov. 3, has also been declared a special, non-working day throughout the country to give full opportunity to the people to properly observe All Saints Day with all religious fervor, which invariably requires them to travel to and from different regions in the country.

As such, the policy of “no work, no pay” will apply to the daily-paid workers on these dates pursuant to Labor Advisory No. 06, s. of 2012, concerning the computation of the worker’s pay during special non-working days in 2013.

Issued by Secretary Rosalinda Dimapiles-Baldoz of the Department of Labor and Employment (DOLE), the advisory specifies that if the employee did not work on that day, the “No work, No pay’” principle shall apply, unless there is a favorable company policy, practice or collective bargaining agreement (CBA) granting payment on a special day.

UNDP project COMPOSTELA Valley -- The United Nations Development Programme (UNDP) has somehow succeeded in helping Typhoon Pablo-affected residents rise and return to their normal life by providing them ways of earning a living.

UNDP Early Recover y Coordinator for Mindanao Winston Aylmer Camarinas summed up the accomplishment of UNDP in a recent visit to New Bataan where an international official of UNDP was supposed to do an assessment area visit.

Camarinas believed that UNDP made a significant dent in the early recovery stage during which UNDP poured around P35 million cash-forwork for Typhoon Pablo hardly-hit provinces of Compostela Valley and Davao Oriental.

ALL SAINT’S DAY:

Prices of candles remain stable PRICES of candles are still stable just a day before the observance of All Saint’s Day, according to Department of Trade a nd Indust r yC onsu mer Wel fa re a nd Business Regulation Group (DTI-CWBRG) officer-incharge Victorio Dimagiba.

Dimagiba said a we ek fol low i ng rele a s e of suggested retail price (SRP) of candles by DTICWBRG, that prices of the said product remain stable after monitoring two major manufacturer of candles -- B a h ay L iw a n a g a nd Manila Wax Commercial Corporation.

SRP for Bahay Liwanag c a nd les a re a s fol lows: 2 0 -piec e pack L iwa na g E s p er m a #3 at P4 3.75; 2 0 -piec e pack L iwa na g Esperma #5 at P60.75; 4-piece pack Liwanag Esperma #16 at P31.75; and 2-piece pack Liwanag Esperma #24 at P122.75.

SR P for Ma ni la Wa x candles are priced at: P44.75 for 10-piece pack Sperma #2; P54.75 for 20-piece pack Sperma #3; P39.75 for 20piece pack Sperma #4; P44.75 for 4-piece pack Sperma #14; P69.75 for 6- piece pack Votive #1; P59.75 for 2-piece pack Votive #2; P49.75 for 2-piece pack Votive #3. candles/PAGE 23

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

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

IN-DEPTH

FDC hikes capacity; to unveil coal plant

G

By GRACE BEBER, Reporter

OTIANUM-led Filinvest Development Corp (FDC) is bent to double its current capacity in Mindanao with the scheduled ground breaking of a 405-megawatts coal-fired power plant in Misamis Oriental on November 9.

Page 13

Committed to strengthen its grip in the country’s power generation sector, subsidiary FDC Utilities Inc. targets to expand to 395 megawatts by 2017 its committed capacity of 200 megawatts for 2012.

The P30 billion project, which will be built adjacent to

Steag’s State Power’s own coal plant, will use circulating f luidized bed technology that emits less carbon into the atmosphere.

The company will initially put up a 270 -megawat t generating capacity, which coal/PAGE 23

First Gen borrows another $50M for power projects F R E SH f rom a dol la rdenominated bond sa le, First Gen Corp has raised additional debt to fund its power projects.

I n a d i s c losu re to t he Philippine Stock Exchange, the Lopez-owned company said it completed the issuance of an additional $50 million in bonds. borrows/PAGE 23

FRESH FLOWERS. Fresh flowers are displayed in Bankerohan market, Davao City. A dozen flowers cost from P100 to P180. The demand for fresh flowers is high during the Nov. 1-2 holidays as Filipinos offer flowers to their departed loved ones. mindanews photo by ruby thursday

Slide in power business drags Aboitiz 3Q profit

By NELSON V. CONSTANTINO, Editor-in-Chief

THE lower returns from its power generating plants coupled w it h foreign currency exchange losses and prepayments pulled down AboitizPower’s thirdquarter profit by almost a third, a company statement said yesterday.

In its disclosure to the

PAGE 20

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BusinessWeek MINDANAO CREDIBLE

Aboitiz Group accelerates relief ops in Bohol

Philippine Stock Exchange, the company reported that from July to September, its earnings went down 27 percent to P6.2 billion from P4.8 billion in the same three-month period last year.

AboitizPower attributed the slump on a P155 million

non-recurring loss arising from the volatility in the peso-dollar exchange rate.

The company also incurred costs amounting to P88 million from prepayment of debt.

“Power will remain a key focus for us. We are committed to prov iding power in support of the

Mindanao Daily NEWS

country’s economic growth.

We still believe the most pragmatic and cost-effective way of achieving this is through a balanced mix of base load and renewable energ y sou rces where feasible,” Aboitiz Power Corp. president and CEO Erramon I Aboitiz said. aboitiz/PAGE 23

DTI intensifies consumer education in MisOcc

By RUTCHIE CABAHUG-AGUHOB Contributor

OROQUIETA City – An intensif ied informat ion education package on the celebration of the Consumers’ Welfare Month, this October, has been waged by t he Department of Trade and Industry (DTI) in Misamis Occidental.

This is apart from the DTI’s function to check the welfare of the consumers and the quality of products/ enter prise a nd monitor dti/PAGE 23

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EconomySpecial

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Oro Chamber: ‘Strong amidst onerous challenges’

New set of trustees elected by

Cheng Ordonez

The Cagayan de Oro (CDO) Chamber of Commerce and Industry Foundation Inc. (Oro Chamber) elected a new set of Trustees Tuesday night, coinciding with its 3rd Quarter General Membership Meeting and 28th Founding Anniversary Tuesday evening at Seda Hotel, Cagayan de Oro City.

The Trustees elected to represent the various sectors are as follows: Business Supp or t O rga n i z at ion s a nd I n s t it ut ion s – Fr. E r i c Ve l a n d r i a , S J ; Manufacturing and Industry – Ja i me R a fael Pag u io; Services – Jeffrey Ang; and Trade a nd Commerce – Efren Uy. The Agriculture, Fishery and Mining sector representative has to be dec ide d ye t si nc e on ly one candidate manifested an interest to run for the position. The Oro Chamber’s election guideline requires, at least, the two candidates v y i ng for a posit ion to constitute an election.

Cagayan de Oro City Mayor Oscar Moreno, who was the guest of honor, in his “Message of Support” said he is very much at home with the business sector, where he recognizes the importance of partnership and CDO’s important role to lead Northern Mindanao.

“I mp or t a nt b e c au s e we occupy an important position in the country. We are at the center. We must provide that leadership even if it’s difficult… not for us, but for the community,” Mayor Moreno said.

“As the region benefits, Cagayan de Oro benefits.

Let’s expand our wings,” Mayor Moreno told businessmen who attended the affair, even as he said that the city’s dependence on t he Interna l revenue Allotment (IRA) should go down to 40 percent from the current 50 percent.

“Others have gone down to 3 0 p e rc e nt ,” M ayor Moreno said, citing t he ideal dependence on IRA should not be more than 20 percent.

Prior to the election, Oro Chamber incumbent President Efren Uy presented his 3rd Quarter Performance Report, which aligns with t he a nniversa r y t heme, “Working Strong Amidst Onerous Challenges.”

Uy’s report has touched on Membership Growth and Advocacy Policy, among others.

Uy said 52% of the year’s target of 60 new members has been accomplished as of the 3rd Quarter.

As for Policy Advocacy, t he Oro Cha mber has been busy dif f using t he impact of the July bombing of Li m ket k a i Center through dialogues with the Embassies, the Philippine Nat iona l Pol ic e , A r my and National Intelligence Coordinating Agency.

“O t her t h a n ener g y

concerns, we were busy in helping diffuse the impact of the July bombing. We tried convincing partner e m b a s s i e s a nd fore i g n orga n i z at ions ba s ed i n Manila and Cebu to spare our city and region from the negative list. We dialogued with the Philippine National Police and the (Philippine) Army to ensure t hat no second explosion will happen in the area, especially during the city fiesta celebration and the October Orobest Expo,” Uy said.

“Thank God, we concluded the three-day Orobest E x po sa fe a nd sound,” Uy added.

“Our advocac y for t he i mple me nt at ion of the Wholesale Electricity Spot Market in Mindanao (WESM) has been favorably heard,” Uy said.

He s a id t he I nter i m Mindanao Electricit y Market (IMEM) star ted operat ion last Sept. 26.

Nevertheless, this resulted in higher energy rates with a f loor price at P9.00 per kwh and a ceiling price of P36.00 per kwh. ...see page 15

“ S p r e a d y o u r w i n g s ,” Mayo r Osca r Mo reno tells businessmen in his “Message of Support.”

Oro Chamber President Efren Uy delivering the 3rd Quarter Performance Report during the Cagayan de Oro Chamber of Commerce and Industry Foundation Inc. 3rd Quarter General Membership Meeting, Anniversary Celebration and Elections, Tuesday night, at the Seda Hotel, Cagayan de Oro City.

Induction of Oro Chamber’s new members.

Canvassing of votes.

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EconomySpecial

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

...from page 14

Oro Chamber members waiting for their time to vote.

BusinessWeek Mindanao Publisher and Oro Chamber member Mr. Dante Sudaria casting his vote for the new trustees. Standing behind is Mr. Allan Mediante, editorin-chief of Mindanao Daily News.

C h e n g Ordonez (right p h o t o) a n d M i ke Banos (above photo), journalistvoters both.

O ro Chamber President Efren Uy taking time to vote.

Oro Chamber members read BWM’s newspapers -- Mindanao Daily News & Cagayan Times.

“And so, we are asking the Department of Energy to fasttrack the approval of all pending power-generating projects, especially on renewables to have available power that can be traded through IMEM to lower the rates.

Still on Advocacy Policy, Uy said Oro Chamber’s campaign for the Bureau of Internal Revenue (BIR) to extend the validity of the use of the old receipts favored many members as BIR approved the extension from June to August and a bonus until today, October 31, 2013, for companies having authority to print (ATP) dated January 2013 and onwards.

On enhancing the city’s competitiveness, Uy reiterates CDO being adjudged as the “Most Competitive City in the Philippines” by the National Competitiveness Council.

“This is a big achievement of our city government, thanks to Mayor Oca (Oscar Moreno) and his team. There is also a high probability that our city will be the first city outside Manila to be connected to the Philippine Business Registry, which lodged at the Department of Trade and Industry. This will make our business licensing and permitting even more efficient,” Uy reported.

Uy said Oro Chamber’s next advocacy is to enhance the ease of doing business in the city by standardizing the fees of barangay clearances issued by the 80 barangays, so businessmen will no longer complain of some barangays, charging fees more than the Mayor’s Permit’s.

“Hence, we are thinking of asking the city to embed the barangay clearance fees in the Mayor’s Permit fee or in the business fee assessment and process the same to the concerned barangay on a quarterly basis. We will also

work for the standardization of the composition of the Joint Inspection Team (JIT) as well as training the JIT members on the proper way of monitoring compliances of business.

Also, Uy reported that last Sept. 21, the Oro Chamber supported the city government’s half-day Clean Up Drive in celebration of the International Coastal Clean Up Day by mobilizing member schools and companies.

On t he aspect of Strengthening Member – Companies, Uy reported to the members present that two major events were implemented this quarter, as follows: Orobest Expo 2013 and the 2nd Cagayan de Oro Business Conference.

“Furthermore, we implemented the following significant training activities and for a: Productivity Enhancement and GainSharing Forum with the Department of Science and Technology (DOST) Regional Office 10 and RTWPB last July 18, aimed at helping membercompanies attain desired productivity levels,” Uy said in his report.

Aside from these, Uy said an accounting for nonaccountants training was also held July 19, 2013; economic briefing with Dr. Bernardo Villegas of UA&P last July 22, Personnel Performance Management System Training last Aug. 1 and 2 to strengthen member-companies’ Personnel Performance Evaluation Systems.

Fina lly, Uy reported about the Family Focused Discussion held last Sept. 28, to help family-owned business attain sustainability while maintaining family unity.

The affair also became a venue for the induction of Oro Chamber’s new members into its fore.

photos by

Lovely Casenas Cheng Ordonez & Mike Banos

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AgriBusiness

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Nestlé trains farmers to grow coffee

By CARMELITO Q. FRANCISCO Correspondent

TAGUM City -- Maria Teresa Agulto, a nurse by profession, decided to pursue her interest in coffee farming when she returned to this city two years ago.

Ms. Agulto had been based in Manila until her husband died.

For t wo ye a r s now, she has been supervising a 1.5-hectare coffee farm about 10 minutes ride from the city proper.

“I did not regret (leaving Metro Manila and going into farming),” she said during a visit to her farm.

Ms. Agulto was among those Nestlé Philippines, Inc. helped in propagating coffee in this part of Mindanao.

The company has even assigned an agronomist to help her improve her farming met hod, said Ramon L .

Parreño, farm manager of Nestlé Philippines.

Coffee beans are displayed at an event for Nescafé, a brand of Nestlé, in this undated file photo.

province.

“In Tagum City, we have 10 farms that are small,” Mr. Parreño said.

The company helped her

by providing farm inputs and technical assistance.

Mr. Parreño said the company initially identified Nestle/PAGE 21

NFA told BoC file charges vs traders, personnel linked in rice smuggling

FDA: Canada warns vs ‘contaminated’ grated coco product from PHL

Ms. Agulto, who sold her first harvest two years after she ventured into this business, has become a model for coffee farming in the

A NUMBER of rice traders brought into the Philippines 243,000 50-kilogram bags of the commodity through the Port of Davao without import permits, the National Food Authority said Thursday, noting it asked the Bureau of Customs (BOC) to file criminal charges against those responsible for the shipments.

“The illegal shipments were monitored by NFA in coordination with the Philippine Ports Authority ( PPA), t h e Ph i l i p p i n e National Police (PNP) and the BOC in Davao,” NFA claimed in an e-mai led statement.

The regulator wants the

Customs Bureau to charge not only the traders but also the Customs officials and personnel who let the shipments leave the port even though the required docu ments were not complete, Rex Estoperez, NFA spokesperson noted in the statement.

In a Oct. 22 letter to Customs Commissioner Rozzano Rufino Biazon, NFA Administrator Orlan Calayag noted the consignees include Bold Bidder Marketing & General Merchandise, Jade Bros. Farms & Livestock Inc., Medaglia de Oro Trading, Silent Royalty Marketing, a nd St a rc r a f t Tr a d i n g Corporation.

The list, according to NFA, was conf irmed by BOC Davao district collector Raymond Ventura.

A couple of separate shipments of some 69,500 50-k ilogram bags of imported rice, also at the Davo Port, were placed on hold for verification.

NFA said the shipments were consigned to San Carlos Multipurpose Cooperative a nd St a rc r a f t Tr a d i n g Corporation.

Rice shipments to the Philippines are carry a 50 percent dut y a nd t hose shipped as part of the WTO (World Trade Organization) minimum access value are levied a 40 percent duty.

HEALTH authorities this week warned the public against buying a brand of grated coconut product, which it said may be contaminated with salmonella, a bacteria linked to food poisoning.

T he Food a nd Dr ug Ad m i n i s t r at ion i s s u e d Advisor y 2013-045, two months after Canada raised a health hazard alert against “Diwa” brand frozen grated coconut.

“Initia l investigation showed that the product is not registered with the FDA,” FDA head Kenneth Hartigan-Go said in the advisory dated Oct. 23. The warns/PAGE 21

DAVAO Cit y -- Twent y years ago, a visit to Davao City would not have been complete without a tour of GAP Farm and a photo taken with its iconic giant carabao in the background.

As the younger generation takes over, the destination is slowly repositioning itself in the tourism industr y as a showcase for organic farming. “ T he fa r m has been cleansed from chemical since 2009 and we are trying our

best to convert from chemical to organic farming now,” resort manager Lenny V. Castillo said.

GAP Farm along Diversion Road boasts of a 10-hectare area planted to a variety of trees like durian, rambutan, santol and lanzones.

The largest tree population is rambutan, with 400 fruit-bearing trees planted all over the hilly area.

“My father started to

develop the farm in 1973 but only made it operational n 1983,” she said.

The resort, she added has provided an ideal destination for family outings and student field trips for almost 30 years now and is still trying to find ways to reinvent itself albeit conservatively.

Castillo said they are pl a n n i ng to add more attractions in the farm in the next five years. They started with the construction of a new wading pool for babies

and toddlers, in addition to the existing adult pool which is a favorite destination for swimming trainings during summer.

She said a zipline is also being considered although they are still studying such a big project and are looking for consultants who can guide them in putting it up.

Families who prefer quiet adventures can go to GAP and explore the hills while taking refuge under the tall Resort/PAGE 21

Davao farm resort going into organic farming

Villar to examine garlic farmers’ production problems SEN. Cy nt hia Villar on Tuesday said she would want to examine the importation of garlic, which according to farmers has adversely affected their production and earnings from the industry.

She explained in a public hearing at t he Mariano Marcos State University in Caunayan, Batac City, Ilocos Norte, that she would want to establish the actual policies on the importation of garlic

flooding the local market.

Because of the low prices of imported garlic, farmers were planting other commodities instead, VIllar, chair of the Senate on agriculture and food explained.

T he cu r rent ga rl ic inventory shows the price of locally-grown garlic is pegged at P60 to 80 per kilo while imported garlic costs P50 to 60 per kilo, National Garlic Action Team (NGAT)

indicated.

Villar also reiterated her resolution, (RA 238) to call for a senate inquiry on the present practices and policies on the importation of garlic and onions amid claims on the monopolization in the distribution of these products.

She said that the lack of new i mpor t per mits being issued by the Dept. of Agriculture limits the

number of onion and garlic distributors to a select group in the country allowing them to impose higher prices on these products.

A case has been filed with a Manila Regional Trial Court against the DA, Bank of the Philippine Islands and the Quarantine Services to compel the said agencies to issue importation permits, she noted.

Villar/PAGE 21

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Banking&Finance

Corporate bids lift dollar vs peso THE PESO failed to sustain its upward momentum last week as it weakened against the dollar ahead of the US Federal Reserve’s policy meeting that began last night.

The local unit closed at P43.15 a dollar yesterday, 10 centavos weaker than its P43.05-per-dollar finish on Friday.

“The peso closed weaker because of the demand which strengthened the dollar across the board. The market is also waiting for what the Fed will say or do,” a trader said in a phone interview.

Corporate demand for the dollar typically surges near the month-end as companies buy the greenback to remit earnings back to their parent firms.

Meanwhile, the Federal Reserve will hold a two-day policy meeting that will conclude on Wednesday night, and the market expects monetary authorities to stand pat on their massive stimulus program.

The US central bank has been buying bonds to the tune of $85 billion every

month to inject money into the economy. The Fed had hoped to wind this down before the yearend given signs of US recovery, but the government shutdown, coupled with disappointing employ ment data, have dampened the likelihood of a taper.

Another trader said dollar weak ness should persist regardless of the results of the Fed meeting.

“Whatever comes out from the Fed, it should still be a weaker dollar because the taper is not expected to push through,” the trader said.

The trader also said the peso weakened as the market anticipated an intervention from the Bangko Sentral ng Pilipinas.

They are not yet in the ma rket, but t hey cou ld intervene to keep the peso within the P43-level, the trader said.

The peso is expected to move against the dollar within the P43.00-P43.20 range today.

Most emerging Asian currencies a lso eased yesterday as investors booked profits before the outcome of the Fed’s policy meeting.

GROWTH in loans and deposits supported BDO Unibank’s net income in the first nine months of the year.

In a statement, the Henry Sy-owned lender said its profit grew by 73 percent to P18.2 billion in the January to September period from P10.5 billion in the same period last year.

“Our core businesses continued to deliver very go o d nu m b e r s d e s pit e pressures from excess system liquidity and capital market volatility,” BDO president Nestor V. Tan said.

“We are on track and very optimistic of hitting our P20.4 billion guidance for 2013,” he said.

Ta n s a id lo a n s a nd deposits growth contributed to a 16 percent hike in net interest income to P31 billion.

Non-i nterest i ncome Profit/PAGE 21

below its ceiling for the first nine months of the year, as the government spent at a slower pace than it raised revenues for the period.

In a statement, Depa r t ment of Fi na nce (DOF) Secretary Cesar V. Purisima said the government incurred a deficit of P18.6 billion last month, or half the P32.8 billion a year ago.

The government incurs a deficit whenever its spending exceeds its revenues, thus forcing it to borrow money to make up for the fiscal gap. Last month, it spent P146 billion, which is more than its revenues of P127.3 billion.

In the first nine months, the government kept its fiscal gap at P101.2 billion, slightly lower than a year ago’s P103.9 billion and well below this year’s nine-month ceiling of P144.5 billion. This after

worth of expenditures.

The lower-thanprogrammed deficit stems f rom t he gover n ment having spent money at a slower pace than it raised revenues. Whereas revenues grew 21 percent last month, expenditures increased by only six percent. For the first nine months, revenues were up 13 percent, slighly higher than the 12 percent increment in expenditures.

“The September report shows an even healthier picture of government fiscal performance as our revenues posted a strong increase over last year’s collections.

Coupled with strong growth in our expenditures over the first nine months of the year, we can see that the dynamism of our operations has yet to wane even as we approach the last quarter of 2013,” Budget/PAGE 21

DEMAND for the dollar shot up Tuesday as multinational companies moved to remit their earnings back to their parent firms. -- AFP

Gov’t keeps 9-month BDO’s 9-month profit jumps on budget deficit below ceiling Aquino administration revenues of P1.295 trillion higher margins THE has kept its budget deficit fell short of P1.440 trillion

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The

CAGAYANTIMES de Oro

LIFESTYLE

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SIPR-CDO celebrates 37th Charter Anniversary Soroptimist Marker installed at Bulua Junction Story and Photos by Irene Dayo

S

oroptimist International of the Philippines Region (SIPR) - Cagayan de Oro City Charter celebrated its 37th founding anniversary, October 29, 2013 here in the city.

The Soroptimist International is a worldwide service organization for women and girls.

Having the tagline “Women at their best helping other women to be their best,” the organization’s advocacy is to be committed to a world where women and girls together achieve their individual and collective potential, realize aspirations and have an equal voice in creating strong and peaceful communities worldwide.

The local celebration held bares the theme “Shaping the future Soroptimist.” Few of the activities they have done are cultural tour, United Nations Day festivity and induction of new members led by Charter President Erlinda Maandig.

Further, SIPR-CDO Charter also unveiled the Soroptimist Marker in the same day. It was installed at Bulua Junction of Kauswagan Highway, Cagayan de Oro City.

The Soroptimist Marker intends to strengthen public awareness and spread further the idea about Soroptimist International.

In a talk given Public Awareness Chairman Cherry Tumaneng, the Soroptimist Marker is considered as the very important initiative of the organization in this billenium and an important tool that links the Four Pillars of Success of SI, namely Members, Program, Public Awareness and Fundraising.

It also informs everyone who are not aware of SI that they are committed to public service.

SIPR Governor Minda A. Garcia graced the event. She also congratulated the charter for living their advocacy.

In addition, she also appreciated the SI marker which she defined as a lasting legacy of the club.

This will also continue to echo their mission and vision. Garcia believed that their club will go through heights in delivering their service to humanity.

Part of the anniversary celebration is the Ceremony of Hope. In the above photo, members are blowing the charter cake. Watching them is SIPR Governor Minda A. Garcia. Beside them are lighted candles placed surrounding the flags of different countries. This is also to commemorate the United Nations Day.

SIPR Members pose within the Kulintang Ensemble. In M’ranao society, Kulintang Ensemble functions for bringing about solidarity, learning and practice of ethical principles and as vehicle for social interaction.

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Tattoo leads tablet revolution in the Philippines N

BILLBOARD

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

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ow that you have the whole world at the touch of your finger, there has never been a better time to spark a revolution.

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Coming with three free supercharged devices—a free Skyworth S73 tablet or a Cloudpad 705W, a Blackberry Curve 9220 mobile phone, and the country’s fastest broadband Wi-Fi stick which can power up to ten devices, Tattoo Bundle Plan 1298 gives you the experience of seamless connectivity wherever you are.

The Tattoo Bundle plans combined these three powerful communication devices together to answer the increasing need to always stay connected.

With more and more people

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“Tattoo is the authority when it comes to tablets. We have proven this already as we introduced our very first branded tablet with the Mediapad. Since then, Tattoo has always been exciting the market with compelling offers. This time Tattoo gives subscribers more ways to stay connected with a complete bundle – a tablet, a phone and a mobile WIFI device that gives seamless connectivity only from the country’s most preferred broadband" said Dong Ronquillo, Vice President, Globe Tattoo Nomadic Broadband Business.

Other Tattoo Tablet bundles are also available with varying numbers of free browsing hours together with unlimited calls and texts on the free mobile phone and connectivity through the free mobile wifi.

Plan 998 has 85 browsing hours coming with a Cloudpad 705W for a one-time cash out of P1499 and Blackberry Curve 9320 phone; Plan 798 also has 85 browsing hours coupled with a Skyworth S73 for a one-time cash out of P1499 and a Cloudfone Excite 352G; Lastly, Plan 598 includes 50 browsing hours, a Cloudpad 705W for a one-time cash out of P2999 and a Cloudfone Excite 352G. Together with the new and exclusive Tablet Bundles, subscribers can also choose from Tattoo’s other dynamic Tabletonly offers that also come with its

very own mobile wifi device.

With a wider Tablet portfolio, Tattoo offers models that range from the Cloudpad 705W for onetime low cash out of P499, while the hard-working Skyworth S82 and the Cherry Fusion Bolt tablets come ver y affordable for a one-time cash out of P999. Android-disciples can also get their hands on the popular Samsung Galaxy Tab 3 10.1 at the unbeatable low price offering of P12, 999.

From reading, surf ing the net,

sending emails or just simply playing online games with your tablets on your commute, to unlimited calls and texts and mobile inter net connection, the Tattoo Bundle plans give you the best deals in the market today.

Get into the tablet revolution and ar m yourself with the most powerf ul trio only from Tattoo.

Lear n more about these new offers at tattoo.globe.com.ph, visit any Globe store nearest you, or call 7301010.

DOST-ICTO, partners target 20,000 jobs for CDO by 2016

by Irene Dayo

T

he Department of Science and Technology – Information and Com mu nications Technology Office (DOST-ICTO), together with its key partners targets a total of 20,000 direct employment for Cagayan de Oro City by the end of 2016 through Information Technology – Business Process Management (IT-BPM), said DOST-ICTO Deputy Executive Director Monchito B. Ibrahim during the Next Wave Cities ICT Roadshow held on October 24-25, 2013 here at CDO. The ICT Roadshow which was centered on the theme “ICT

Roadshow 2nd Edition: Bringing ICT Opportunities to Countryside Filipino Talents” composed of ITpreneurship talks, e-commerce for u m , job fa i r s a nd m i n iworkshops or seminars. It aimed to introduce and let the people of CDO understand the importance of IT-BPM industry and also to forge partnership together with private and public sectors. It also provided job opportunities and trainings to students and graduates of ITBPM related courses through job fairs and seminars. IT-BPM is a sector which focuses on IT-enabled improvement, innovation and execution of business operations.

During his talk, Ibrahim said that CDO has a lot of talents,

considering that there are a lot of graduates from various educational institutions. The challenge here is on how to build the right ecosystem for the ICT industry in the city.

In the meantime, they still have 3,000 employees based in CDO and Ibrahim is positive that they will reach the 20,000 target by 2016 which is part of the overall 1.3 million direct employment target.

He also mentioned that 73% of their people is based in Mega Manila and only 27% are based outside. T hey are aiming to increase the latter up to 40%.

He also added that ICT Industry is very fast in terms of growth.

In the year 2012, they earned a total of 13.2 billion US dollars and

their target for this year is 16.5 billion US dollars. Moreover, by the end of 2016, their target is up to 25 billion US dollars.

The roadshow was also coorga n i zed by t he CDO ICT Business Council and Department of Trades and Industry – Misamis Oriental.

M s . S t e p h a n ie Ro s a l i n d Caragos, Chai r of CDO ICT Council, committed that they will be coordinating closely with academe and stakeholders who are very active. She then added that they are ready to regrow.

Caragos also called to the members of various sectors to connect with them, as they begin to expand their network here in

CDO. Apart from CDO, there were also series of roadshows conducted earlier this year on various cities in the country such as Naga City, Tacloban City and Laoag City.

The ICT roadshow is a project of DOST-ICTO through the ICT Industry Development Team under the Next Wave Cities (NWCs) program and is conducted for the second time already after the successful roadshow series last year. This aims to present why IT-BPM sector is one of the best choices for entrepreneurship, career development and advancement of workforce.

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

Editor : Nelson Constantino, E-mail: nelconstant@gmail.com

CorporateWorld

thursday | October 31, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

2 weeks after quake hit:

Aboitiz Group accelerates relief ops in Bohol, reaches more victims TWO weeks following the 7.2 magnitude earthquake that hit Bohol and Cebu, the Aboitiz Group sustained the stream of relief goods to reach more families, especially in isolated island communities where supplies remain scarce.

Through its corporate social development arm Aboitiz Foundation, the group has reached out to nearly 11,000 families in various areas such as Loon, Tubigon, Sagbayan, Calape, Clarin, and nearby island barangays.

“The immeasurable bravery and passion to serve of our team members and volunteers are very commendable. No aftershock or far too isolated barangay would keep them from reaching out to the quake victims,” commented Aboitiz Foundation Executive Vice President and Chief Operating Officer Sonny Carpio.

The biggest challenge, he noted, are hauling thousands of relief packs from the command

center and transferring them – some via small bancas – to these isolated island barangays.

Adding to that are destroyed roads and bridges, which make it difficult for trucks carrying the relief goods to pass, he added.

Now on the 2nd phase of its relief operations, the group reached more 7,000 families and aims to double the efforts as relief funds continue to pour in and more volunteers sign up.

Early last week, naval ships started sailing back and forth from Cebu to Bohol to ferry relief items and other non-food items such as tents for temporary shelters from the foundation’s new command center at the

A Naval Forces Central ship transports loads of relief packs to Bohol from Cebu.

Hope abounds. An Aboitiz Foundation staff shares the love as one grateful earthquake victim in Barangay Loon, Bohol receives a relief pack for her family.

SEAOIL targets 25% sales jump SEAOIL Philippines, Inc. expects its sales this year to grow by about a quarter versus year-ago levels on the back of the continuous expansion of the company’s retail network, its top official said.

Francis Glenn L . Yu, SE AOI L pre sident a nd chief executive officer, told repor ters t he compa ny expects “a boost of more

than 20%” in its sales for 2013.

“As of end-September, we are about P16 billion. By yearend, we hope to achieve P20 billion in sales,” he said on the sidelines of a company event last Thursday.

Mr. Yu said the main sales drivers are the expansion of SEAOIL’s retail network and the performance of its existing stations.

“We continue to expand the network of our stations.

At the same time, there is increase in our organic growth, meaning our existing retail stations. Performance this year is really better,” he said.

As of the third quarter, SEAOIL had a total 340 retail stations, 70% of which are franchises while the rest are seaoil/PAGE 22

Naval Forces Central in Lapu-Lapu City, Cebu.

The 1st phase of relief operations, which was mobilized immediately a day after the quake while aftershocks continued to rattle the province, has brought food and water to nearly 4,000 families.

The group will continue packing and distributing relief packs in the coming days with the help of volunteers such as Cebu-based Aboitiz business units such as CitySavings Bank, Pilmico Foods, construction group Metaphil, shipbuilder Tsuneishi Heavy Industries, Visayan Electric Company and other distribution units; team members’ friends and dependents; foundation scholars; LLC Muslim Cooperative; Mater Dei College students; Philippine Navy and NavForcen ladies, and ROTC students.

The 100-year old Aboitiz Group traces its roots in the Visayas and continues to have businesses in the region. Bohol and Cebu are home to many of its team members.

The team is continuously working with Bohol’s provincial and local governments, the Department of Social Welfare and Development, and Bohol Planning and Development Office in conducting site assessments to identify other areas of immediate concern.

How you can help: Please send cash donations to the Aboitiz Foundation through the following: • Aboitiz Foundation’s UShare portal http://ushare.unionbankph.com/aboitiz/ • Union Bank of the Philippines Account No. 10026-1070944 • City Savings Bank Account No. 200-20031301 Or visit www.aboitizfoundation.org and click the “Donate” button.

For other concerns, you may contact the following Aboitiz Foundation representatives: • Danny Cerence (Coordination) – 09176308172 • Rowena Astillo (Donations) – 09176304484

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Mindanao Daily 21 NEWS

thursday | October 31, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

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

Nestle...

Warns...

Villar...

only Talaingod -- a town in the province populated by indigenous peoples -- as suitable for coffee farming due to its soil quality. But when Tagum farmers saw the potential of the crop, t hey decided to go into coffee growing, realizing they could inter-crop coffee in their coconut plantations.

It was i n 1994 when Nestlé decided to set up its demonstration farm in the city as the company saw the potential of growing the crop in the Davao Region. In 2010, the company started to roll out its “Nescafé Plan”, named after its coffee brand, which was a nchored on a “create sha red va lue” principle designed to help cof fee fa r mers i mprove farming methods.

Under t he pla n, t he compa ny advocates not only responsible farming, but also responsible supply chain management. Based on the briefing materials of the company, the plan hop e s t o he lp f a r me r s i mprove me t ho d s a nd , in t he process, boost a g r ic u lt u re pro duc t ion a nd consequent ly r u ra l development.

Its demonstration farm in the city is a “one-stop shop serving as a Robusta seedling production nursery, a local research and development center for new coffee selections, a training and techno-demo center, a buy ing station and a composting facility for organic fertilizer,” the materials read.

Nestlé has also i mplemented “Fa r mer C on nec t ”, u nder wh ich it acts as a direct buyer, eliminating middle men.

Under this program, the company has set up satellite buying stations to encourage farmers to directly sell their har vest based on globa l market prices.

“It also enables farmers to get the payment within eight banking hours,” the briefing material added.

Mr. Parreño said t he c ompa ny h a s prov ide d te ch n ic a l a s si st a nc e to farmers by letting t hem undergo training sessions at no expense.

To ensure that farmers maximize these sessions, the company limits number of trainees to 25 a month.

To qualify for training, a farmer should have an area for coffee farming.

The Tagum City facility is also a source of seedlings for coffee farmers. At present, the company can produce 25 million seedlings annually.

“We will provide you with the training, we will help you in your farm, but we will not make you sign any contract,” Mr. Parreño added.

Nest lé a lso prov ides i ncent ives to fa r mers who can ensure that they produce the best beans using techniques and processes the company has taught them.

text of the advisory was posted on the FDA website Thursday evening.

Also, he said the manufacturer, identified as Sambel Pacific Corp. in Calamba City in Laguna, h a d a n e x p i r e d F DA License to Operate since 2007.

“The FDA Field Food a nd D r u g O f f ic e r s a re now investigating the food m a nu f a c t u r e r o f D i w a Grated Coconut,” he said.

The FDA said it learned on ly t h is week t hat t he product was t he subject of a hea lt h hazard a ler t by t h e C a n a d i a n Fo o d Inspection Agency.

C a nad a’s a ler t d ated Aug. 12 said the importer, Diwa Products Ltd., Toronto, was voluntarily reca l ling t he a f fected product from the market.

In t he Phi l ippi nes, Ha r t iga n-Go sa id t he ma nu fac t u rer may be v iol at i n g t he F DA Ac t of 2009, which prohibits t h e “e x p o r t a t i on . . . o f any hea lt h product t hat is adulterated, unregistered or misbranded.”

He s a i d t h e F DA i s requesting all food manufacturers and processors to reg ister their respective products before exporting to other countries.

“Food safety is a global concern.

Processed fo o d pro duc t s t h at a re contaminated with phy sic a l, c hem ic a l a nd biological hazards should not be offered for sale or for consumption,” he said.

Villar said that if garlic i mpor t at ion c a n not be avoided, 60 pct of it should be allocated to farmers’ cooperatives and associations and 40 pct to private traders and importers.

She added that in case the need for importation of garlic is just low, the selection process should be done through a raffle. (PNA)

from page 16

from page 16

Resort... from page 16

trees that have seemed to magically sprout all over the place. “Kaya nga GAP because my father vowed never to leave a gap on the ground without a tree,” she added.

In the meantime, the resort continues to cater to private and corporate functions. It has six function halls for company launches and seminars as well as three swimming pools that can be rented out on an exclusive basis. (PNA)

from page 16

Profit... from page 17

grew by 36 percent to P25.8 billion on the double-digit expansion in both fee-based income and trading and foreign exchange gains. The growth in operating expense, meanwhile, remained steady at eight percent.

The bank’s loans increased 17 percent to P846.4 billion on broad-based expansion across key markets. Despite higher loans, BDO’s gross non-performing loan (NPL) ratio fell to 2.4 percent by end-September.

T he b a n k s e t a s id e provisions of P5.1 billion to lift its NPL coverage ratio to 152 percent.

Total deposits accelerated by 40 percent to P1.2 trillion, led by the steady growth in low-cost deposits as well as inf lows from maturing special deposit accounts (SDA) funds.

The Bangko Sentral ng Pilipinas earlier ordered banks to bring down their placements in its SDA facility to no more than 30 percent last July and pull them out altogether by end-November.

BDO closed September with a capital adequacy ratio (CAR) and tier 1 capital ratio of 17.1 percent and 15.3 percent, respectively, well above the regulatory minimum, and exceeding the Basel III requirements set for implementation in January 2014.

Basel III is the latest set of international capital standards for banks.

BDO ended the first nine months with 790 operating branches and over 2,100 ATMs nationwide. It also has a branch in Hong Kong as well as 13 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.

BD O r a n ke d a s t he largest bank in terms of total assets, loans, deposits, capita l a nd t r ust f unds under management based on published statements of condition as of June this year.

www.johndprovoice.com

Budget... from page 17

Purisima said.

“Of particular note is our primar y sur plus of P156.9 billion. For the first three quarters of 2013 - 13 percent higher than the primary surplus of P139.2 billion for the same period last year. That our primary surplus has kept pace with the growth of our revenues and expenditures shows that fiscal stability is present and streng thening, and that capacity for further growth still remains,” Purisima said.

The Bureau of Internal R e v e nu e (BI R), w h i c h accounted for 70 percent of government revenues, generated P898 billion in taxes in the first nine months of the year, or 16 percent more than last year’s P772.5 billion.

Purisima said the increase in the excise taxes helped boost the BIR’s collections, with P56.3 billion raised from the levy on tobacco and alcoholic products in the first eight months of the year, a 61 percent increase from a year ago. Of that amount, P35 billion came from tobacco and the remaining P21.3 billion from liquor products, representing year-on-year increases of 78 percent and 40 percent, respectively.

“Our BIR is targeting a total collection of P85.86 billion in sin taxes this year, and we expect that as the next tier of tax increases go into effect towards a unitary tax rate by 2017, we will see even greater increases to fund our public health measures and other investments in our people,” Purisima added.

The government is aiming to keep its full-year deficit at no more than P238 billion, equivalent to two percent of the country’s gross domestic product (GDP).

GDP is the amount of final goods and services produced in the country and so measures economic performance. The deficit-to-GDP ratio in turn shows how manageable is the government’s fiscal gap.

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

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

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

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

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

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

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Fun Page

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

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

thursday | October 31, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Kim Atienza to ‘Showtime’ family: I’ll be back soon ma k a k asa ma ko na a ng ‘Show t i me’ fa m i ly ko,” Atienza said.

The “TV Patrol” weatherman was not able to join Vice Ganda in their planned joint number for the “Magpasikat Week,” an annual tradition on “It’s Showtime.”

The ABS-CBN noontime prog ra m is cu r rent ly celebrat i ng its fou r t h anniversary.

W hen asked for a me s s a ge , At ien z a s a id , “Guys, I’m so proud of the show dahil ang gagaling niyo talaga... I’m so proud to be a part of this family.” abs-cbnnews.com

MANILA - “I’ ll be back soon.”

This was the message given by “It’s Showtime” mainstay Kim Atienza to his co-hosts and the “madlang people” on Saturday.

At ien z a, who is now recover i ng f rom a r a re d i s ord e r t h at s aw h i m hospitalized for a week, was visited by ABS-CBN News enter t a i n ment repor ter Gretchen Fu l lido in his house in Malate, Manila.

“Okay na ‘ ko. Siguro nasa mga 99 percent well na a ko. Pa g k at ap os ng ilang araw, handa na ko, pupu nta na na ma n a ko d iya n s a ‘Show t i me’ at

clifford’s

Daily HOROSCOPE AQUARIUS (January 20 – February 18) - Try to give others some leeway today -- if only so you can watch them from a safe distance. Some folks are sure to abuse your trust if you give it to them, but that’s a short-lived situation.

PISCES (February 19 – March 20) - Your left brain is unusually active right now, so make sure that you’re making the most of it. Things are looking up, and you should be able to solve an important problem that has been bugging you for some time.

ARIES (March 21 – April 19) - The details may get frustrating today, as you find people focusing too much on the small stuff and ignoring the big picture. Still, you’ve got to follow their lead, even if it means you’re neck-deep in spreadsheets.

TAURUS (April 20 – May 20) - An art gallery or a public work could resonate deeply with you today -- so try to get out there and experience all that life has to offer! Your great energy should be able to shake things up for the better!

GEMINI (May 21 – June 21) - Do you have a stack of bills or paperwork piling up? Now is the time to clear it out -- you may have forgotten something, and it’s best to handle it before it’s too late. Make a to-do list!

CANCER (June 22 – July 22) - Focus on the small stuff today. It’s important that you see to the small details as they arise and keep from panicking as facts and figures start to pile up around you. It’s easier than you think!

Mindanao Daily News’

from page 20

company-owned.

“We hope to open 30 more stations this year. All these stations are undergoing construction. By the end of the year, they will be operational already,” Mr. Yu said.

He noted that SEAOIL spends P1.2 billion every year for expansion, adding that the firm intends to grow its network to 700-800 stations in the next three years.

“Our goal is to have a network that will be able to deliver our products to the different localities,” Mr. Yu said.

SEAOIL last Thursday partnered with Armored AutoGroup, Inc., the owner of

If you like to greet your friends or just wanted to have some text mates through our publications, just text this number : 09269919077 or you can message it to our FB Fan Page ( Mindanao Daily Fan Page )

Last Vegas, starring 4 Oscar winners, (just like the 2013 release The Big Wedding), is a box office bomb in the making (just like the 2013 release The Big Wedding).

-- Hai MDN greet nku tanan admin staff sa CIELO’S specialy ni Marj nga tambOk perO seksy kaau. Hehe.hanap dyn kO txtm8 kanang buOtan na lalaki. Tnx MDN (09214134100)

Four best friends in their 70s decide to escape retirement and throw a Las Vegas bachelor party for the only one of them who has remained single. The trailer - watch below - isn’t even intriguing. Poor CBS Films. And Robert DeNiro, Morgan Freeman, Michael Douglas and Kevin Kline.

-- hai kuya hnap aqO nang txtm8 ung grl ung mbait at ma unawaen ,18 2 20, call me j-b e2 po # ko 09066114089 tnx gd blss.

-- Gud pm , mdn i want to greet sanchez family @ macabalan dn hanap po ako nang gwapong txtm8 ,salamat po. [09051551343] -- Male ko. Nangita ko ug textmate o gf ngal 25-40 years old kanang liberated girl o mom from Iligan or Cagayan De Oro or nearby. My TM # 09269422829.

-- im carl zairain earl fuentes 4short carl 21 yrs of age hnap ako ng ktxm8 18-22 im frm mramragbukidnondsismy#09262486222 -- _,c”)_gUdmorng MDN, Pki greEt nLang xAh tnAng JCSSI GUARDS. . Nd wAntEd daUn qOh txtm8, hErs mY # 09351274217.

Tnx. & gOdbleEs. .

CIRCLE A WORD how fishy

edge filter fountain frogs frond garden goldfish gravel

insect koi lining mosquito newts plants pump rockery

world-renowned fuel additive brand STP. Mr. Yu said that since the beginning of this month, SEAOIL’s gasoline products (Extreme 97, Extreme 95, Extreme U) and its Exceed Diesel produc t a l ready contained STP additives.

S E AO I L h o p e s i t s partnership with the USbased STP can help it grow its market share to 10% from the current 4%. The firm aims to reach that target over the next three years by boosting sales by P50 billion, Mr. Yu said.

“It is important that we have the right partner with us.

STP is one of these partners and we believe we can increase the value of the brand,” he said.

-MovieWatch-

Social Section

algae alpines aphids bridge bubbles butterflies castle dragonfly

SEAOIL...

slugs snails stones tadpoles toads water hyacinth water lily waterfall

LAST VEGAS release date :

N ovember 1, 2013

SUDOKU How to play the game?

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

of the same digit.

Yesterday’s Answer

LEO (July 23 – August 22) - You feel more introverted today -- so take time off or just focus inward as much as you can. You may be close to hitting a spiritual milestone, and you don’t want this to pass you by unnoticed!

VIRGO (August 23 – September 22) - Your mastery of the small details makes today a breeze -- so push through the complaints and doubts and show your people how easy this can be. You amaze the right person at the right time.

LIBRA (September 23 – October 22) - This is a really great time to get acquainted with new people -- like at a party or networking event. Your natural grace is on display, and at least one new person is sure to take a keen interest.

SCORPIO (October 23 – November 21) - You find yourself making plans despite not being entirely sure what’s coming up in the near future. Go for it -- your mental state is perfect for putting all the pieces together properly.

SAGITTARIUS (November 22 – December 21) Someone you usually like is starting to drive you crazy -- but this isn’t a long-term problem. Try to just smile and nod and let them natter on while you work on your own projects.

CAPRICORN (December 22 – January 19) - Try to reach out to that long-estranged friend or lover -- there’s no need for grudges or dark feelings to rule your respective worlds. If you make the first move, they are likely to respond well.

Amazing Facts!

Did you KNOW?? ..

The holiday Boxing day was originally celebrated in England,for the servants to the rich people. After chrismas,the servants “boxed up” all the left-overs from the rich people and bring them home.

CROSSWORD puzzle across 1. Conceit 5. Foundation 9. Brocka of films 10. Region 11. Query 12. Amount owed 14. Neon symbol 15. Gravel and_ 16. Female deer 17. Award 19. Jerusalem 20. Baseball club 21. Fish organ 22. Stop 24. Snarl 27. Gardner of films 28. Quizon of films 29. Preposition 30. Colonizer

32.

33.

34.

35.

36.

Deit Effortlessness Instance Follow Deceived DOWN 1. Put for growth 2. Stage whisper 3. Writing fluid 4. Carry out 5. Daring 6. Collection of anecdotes 7. Dispatching 8. Brightness 10. Crazy 12. Thai currency 13. Filipina bowling great 15. Petty quarrel

18. Laymen 19. Metallic element 21. Impartial 22. Swiftness 23. _Maria 24. Woody plant 25. Not rigidly fastened 26. Terminated 28. Otherwise 31. Greek letter 32. Hiatus 34. Copper symbol Yesterday’s Answer

Mindanao Daily 23 NEWS

thursday | October 31, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Coal...

Candles...

is expected to be operational by 2016. The company plans to expand the facility by another 135-megawatts in 2018 in anticipation of the island’s growth.

The company is a lso looking at other projects in key growth areas in Luzon and the Visayas.

To date, 100 megawatts of power supply agreements have been signed with off-takers in Camarines Sur, Cebu, Davao del Norte and Negros, the holding firm said, adding that more deals are expected to be signed before yearend in other areas of the Visayas and Mindanao.

These power facilities are expected to commence operations by early 2015 and 2016. “[FDC Utilities] intends to participate as a key trader in the wholesale electricity spot market and will also engage in the retail electricity supply with the forthcoming open access retail competition,” the company said.

FDC Utilities is also reviewing the feasibility of a water desalination plant in the Visayas and exploring the possibility of buying into existing generation assets and contracts, as well as coal trading towards further expanding its portfolio.

FDC Utilities has seven subsidiaries, namely FDC Retail Electricity Sales Corp, FDC Misamis Power Corp, FDC Danao Power Corp, FDC Casecnan Hydro Power Corp, FDC Camarines Power Corp, FDC Negros Power Corp and FDC Davao del Norte Power Corp.

In May, FDC announced it shelved its plan to install liquefied natural gas plants nationwide because of the rising cost of gas in the aftermath of the tsunami in Japan and the pending release of the government’s master plan for LNG. The holding firm instead shifted its focus to power facilities running on clean coal and biomass energy, spending P25 billion to support the said power generation capacity.

The Filinvest Group is engaged in the businesses of real estate, hotels, financial services, sugar farming and milling, and power generation.

FDC expects to spend P30 billion for the coal plant, which will use circulating fluidized bed technology to minimize emissions.

In a disclosure to the Philippine Stock Exchange, FDC said it tapped First Northeast Electric Power Engineering Corp of China to supply the equipment for the project.

FDC a lso contracted NEPC Power Construction Corp and EEI Corp for the construction, and the necessary civil, electrical and mechanical works of the power plant. Alstom will supply the steam turbine and generator while Shanghai Electric Group Co Ltd will prov ide t he circu lat ing fluidized bed boilers for the project.

O n t he ot her ha nd , prevailing price of Votive #3 12-piece pack is P35.45; Liwanag #20 2-piece pack is P39.95; Liwanag E#26 2-piece pack is P136.95; Liwanag V#1 6-piece pack is P79.75; Liwanag V#2 6-piece pack is P64.75; Liwanag V#3 6-piece pack is P56.75; 3D filler Liwanag 1-piece pack is P46.99; Glow #5 20-piece pack is P35.75; Glow #22 2-piece pack is P57.25; John #12 1-piece pack is P90.00; John #11 2-piece pack is P26.00; John #5 10-piece pack is P50.00; John #14 3-piece pack is P39.00; Glow #5 20-piece pack is P35.75; Glow #19 2-piece pack is P39.45; and Glow #22 2-piece pack is P57.60.

Prices of candles versus a year ago went up from P11.20 to P14.50 for Manila Wax while a decrease of P3.30 for Bahay Liwanag.

Dimagiba also noted that as of this time, there were no reports of overpricing in the market.

from page 13

from page 13

Borrows... from page 13

“The additional notes were issued under the terms of First Gen’s outstanding $250 million 6.5 percent senior unsecured fixed rate notes due October 2023,” it said.

The said issuance was coursed t hrough the Singapore Exchange Securities Trading Limited (SGX).

First Gen plans to use the proceeds of the offering for investments in power projects and for general corporate purposes.

Deutsche Bank, HSBC CAGAYAN DE ORO MAIN BRANCH and J.P. Morgan P & J Lim Bldg., Tiano arranged Brothers t h e t r a Kalambagohan n s a c t i oSts., n. BDO Tel. # (08822) 727-829 * CapitalTelefax & Investment # (088) 856-1947 Corp and Development Bank of CAMIGUIN BRANCH the B.Philippines Aranas St., Poblacion,served Mambajao, as Camiguin Tel. # managers.

(088) 387-0491 domestic lead First CORRALES Gen isBRANCH the Lopez Corralespower Ave., Cagayan de Oro City group’s generation arm. The company has a DIVISORIA BRANCH portfolio geothermal, Atty. Erasmo B. of Damasing Bldg., #61 Don A. Velez St.,and Cagayan de Oro City natural gas hydro plants Tel. # (088) 857-3631 across the country.

DTI...

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739

from page 13

CARMEN BRANCH prices/price tags to see if Vamenta Blvd., Cagayan de Oro City there isTel.manipulation in # (088) 231-2011 commercial establishments,

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li ke g rocer y stores a nd hardware, DTI Provincial Director Delia M. Ayano said.

Anchored on the theme: “Health Product: Quality, Efficacy, Safety and Transparency – Everybody’s Concern,” the month-long celebration included the following activities: Hanging of streamers announcing the celebration in strategic areas of the province and supervision of “Peel and Win – Summer Promo” of Elim Agricultural Supply at BMEG-Ozamiz City, Oct. 1.

Consumers’ Forum on Downstream Oil Industry in Oroquieta City to enhance the level of awareness of t he public on per tinent gove r n m e nt r u le s a nd reg u lat ions, sa fet y a nd standards confronting the country’s oil industry, Oct. 4.

Or ient at ion br ief i ng on Consu mer R ig hts a nd Responsibi l it ies to disseminate information on the subject and other Republic Acts applicable to consumers, Oct. 14.

Provincia l Consumer Quiz for 3rd Year and 4th Year secondary students to raise the level of awareness on consumer laws, rights and safety, Oct. 25.

Briefing on the Miniature De c or at ive L a mps a nd other mandatory products to intensif y enforcement of standards on Christmas Lights for consumer safety and awarding of BAGWIS

winners, Oct. 30.

Symposium on Consumer We l f a r e i n S e c o n d a r y Schools, prov ince-w ide, to enhance their level of awareness on consumer rights and responsibilities to the youth sector, Oct. 31.

Aboitiz... from page 13

But on top of t he se factors, the company said income contribution of its power generation business, which accounts for the bulk of earnings, dipped by 31 percent to P4 billion from P5.8 billion. “ T he adverse impact on earnings was mainly attributable to the lower margins registered by the Pagbilao plant and the higher f uel cost brought about by the implementation of the Geothermal Resource Supple Contract for t he T i w i -M a k B a n p l a nt s ,” AboitizPower said in the statement.

It s ot her bu si ness segment, power distribution, registered a five percent increase in earnings from P765.4 million to P800.7 m i l l ion due to dema nd across all customer classes.

Ab oit i z Power i s t he A b oit i z g roup’s p owe r generation and distribution arm. The company has a portfolio of coal, geothermal and hydro plants as well as a number of private power distribution utilities across the country.

CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011

Spacious Rooms Approx. 4m x 5.5m • Fully Airconditioned • Cable Ready • 21” LCD/24” LED TV • Personal Refrigerator • Hot & Cold Shower • Kitchenette • Intercom • Cabinets/Closets • Free wifi internet • Business Center with Terlephone, Computer & Fax Machine Open for Short Term & Long Term Lease For Reservations Contact Us: 09351842333

facebook.com/jerggyp • jerggy_p@yahoo.com

24 Mindanao Daily NEWS

thursday | October 31, 2013

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th

Happy 58 Birthday

Brother EDUARDO V. MANALO Executive Minister of Iglesia Ni Cristo Greetings from:

Vice Governor JOEY G. PELAEZ Abing I. Bernaldez Bing F. Dumadag Benedict P. Lagbas Enteng K.Pelaez Dandan N. Chan(PCL)

Geronimo Z. Lagbas(SK)

and Board Members

Gagay J. Acain Boris H. Actub Enan V. Emano Nancy S. Madjos Loloy S. Mugot Jun S. Kho Jr.(ABC)

ROTARY CLUB OF CAGAYAN DE ORO RI DISTRICT 3870 FELLOWSHIP MEETING EVERY THURSDAY @ VIP HOTEL 12:00 NOON