BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 066
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Monday | October 31, 2016
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PROSPERIDAD, Agusan del Sur -- The Department of Trade and Industry (DTI) is targeting to increase the Gross Regional Domestic Product (GRDP) in Caraga Region in the next five years. Brielgo Pagaran, DTI Caraga regional director, said the economic development goal is part of the department’s major thrust dubbed as “DTICaraga 2021.” Pagaran said much effort has to be done considering that Caraga Region is not even half-way as of the present in the GRDP with only 91 percent gain against the supposed to be 200 percent target.
By MIKE BAÑOS, Editor-at-Large
LECTRICITY rates for residential households in Mindanao can be reduced by as much as P2.25 per kilowatt hour if the output of the Agus-Pulangi hydroelectric power complex is exclusively allocated for residential consumers. “Upon unbundling of the PSALM charges for generation (MCPC will work on this
in 2017), the rates for the hydro will be reduced to the lower/PAGE 11
New labor policy LABOR and Employment Secretary Silvestre H. Bello III has said that the Department will formulate a policy on employment contractualization based on the proposals of the employers and labor groups before the end of 2016. “We will come up with a policy or guideline that will be enforced by the Department b e fore the ye a r e n d s . W e will decide whether we will end contractualization, allow contractualization, or come up with a balance of the two positions,” Bello said after the High Level Dialogue between representatives from employers and labor groups held at the OSEC Conference Room, DOLE Building in Intramuros, Manila. Bello added that the Department is also studying the proposed “Win-Win Structure” which was submitted by the Department of Trade and Industry (DTI) and supported by various employers’ groups.
Homes like this one in Lubilan, Naawan, Misamis Oriental can enjoy the benefits of cheap electricity if Mindanao’s hydropower plants were exclusively used for households.
Japan still top source of ODA: Duterte By ANTONIO L. COLINA IV, MindaNews
DAVAO City – Japan will strengthen her support to the Philippines’ goal of attaining inclusive growth and sustainable development through the Official Development Assistance,
President Rodrigo R. Duterte said Thursday. Duterte, in his arrival speech at the F. Bangoy International Airport, said that Japan remains as the countr y’s top donor for
ODA that funds high-impact projects in both urban and rural areas of the country. “Japan is our number one ODA partner and under JICA (Japan International Cooperation Agency, highimpact projects benefiting source/PAGE 11
Japan to back peace, devt in Mindanao By ANTONIO L. COLINA IV, MindaNews
DAVAO City – The Japanese government has vowed to support the Philippines’ peace and development efforts in Mindanao, President Rodrigo R. Duterte said on Thursday
evening. Duterte, however, did not give details how Japan would help in the government’s peace efforts in his arrival message at the F. Bangoy
International Airport. “I sought and received Japan’s continued support for the peace and development agenda in Mindanao, as we move a step forward towards the goal of just and peace/PAGE 11
MOST OUTSTANDING MICRO ENTREPRENEUR. Cagayan de Oro’s top furniture-maker Abrillo Furniture bagged this year’s prestigious award as Most Outstanding Micro Entrepreneur during the 5th Mindanao Business Leaders & Entrepreneurs Awards 2016 held on October 22, 2016 at Limketkai Luxe Hotel, Cagayan de Oro City. Abrillo Furniture was cited for its continued innovation, commitment for growth and for being compliant to its corporate social responsibility. Entrepreneur Henry Abrillo personally received the award given annually by BusinessWeek Mindanao Group of Publications. With its main showroom at Tiano St. in Cagayan de Oro City, Abrillo Furniture branched out at SM Davao City, SM City Cagayan de Oro, and SM Cebu City. (Joe Palabao)
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776
Economy 2 urges consumers Tighter measures imposed DTI to assert rights, for buses in Cagayan de Oro fulfill responsibilities T Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
monday|october 31, 2016
RANSPORTATION officials here has tightened the security measures for all buses in the city’s east and west terminals to ensure the safety of passengers as they head home for the All Soul’s Day and All Saint’s Day. Land Transportation Office regional director, Oscar Salcedo, said the inspection which started
Friday, conducted with the Land Transportation, Franchising and Regulatory Board (LTFRB), aims to check the road worthiness of vehicles to ensure the safety of passengers. “We want to find out the slightest violation, like lighting facilities, tires, signal, warning signs and the total worthiness and cleanliness of the buses,”
Salcedo said. The inspection, he noted, is not limited to the worthiness of the vehicle, but also covers the bus drivers and conductors, who face penalties if they are found to have ingested alcohol or if they are unkempt. The LTFRB meanwhile will inspect the franchise of the buses to net ‘colorum’ (illegal) vehicles.
Salcedo said they are also working with the police and the military in securing the bus terminals as the ‘Undas’ break on Oct. 31 and Nov. 1 nears. “ We h o p e t h a t t h e commuters from various areas in Mindanao would enjoy a safe travel during the observance of All Saints’ Day and All Souls’ Day,” he said. (PNA)
MAL AYBAL AY City — Department of Trade and Industry (DTI) urged the buying public to be more assertive of their rights against unfair sellers and traders who want to take advantage especially that the yuletide season has started. DTI Bukidnon Provincial Director Ermedio J. Abang said the data monitored from business establishments’ log
showed common complaints such as shoddy goods and defective products. He encouraged buyers to ask official receipts or any proof of payment to help both buyers and sellers to speed up grievance redress process in case disagreement crops up. “When buying, even from the sidewalks, always demand DTI/PAGE 11
TUBOD, Lanao del Norte --The Provincial Government of Lanao del Norte has set its eyes on Mt. Torong-Torong as the next area for development due the potentials it has on
tourism. Mt. Torong-Torong is known for its grandeur, exemplified by the summit overlooking the Panguil Bay. Governor Imelda
Quibranza-Dimaporo said the mountain is a potential site for tourism development, including the putting up of a zip line and other tourist attractions.
Mt. Torong-Torong lies between the municipalities of Tubod and Kolambugan, encompassing, as well, a small portion of Magsaysay town. It has an estimated elevation
of 2,500 to 3,000 feet above sea level. Lanao del Norte 2nd District Congressman Abdullah D. Dimaporo said Mt. Torong-Torong was
already eyed on in the past as a tourism potential and for development with the help of surrounding municipalities. Gov. Dimaporo said people Tourism/PAGE 11
Lanao Norte governor out to develop Mt. Torong-Torong tourism potential
RPN Radyo Ronda Stations Nationwide
CNN Philippines Stations Nationwide Linear Park Project. In preparation for the extension of the Linear Park Project, Hapsay Sapa team of Cagayan de Oro holds a coordination meeting with the barangay council of Barangay Lapasan headed by Barangay Chairman Omar Labuntog and some purok leaders on October 26. Labuntog expresses full support for the realization of the project, saying that it will greatly benefit his constituents.(CIO/PIA10)
CNN Philippines TV-9 Manila CNN Philippines TV-12 Baguio CNN Philippines TV-12 Dagupan CNN Philippines TV-26 Tarlac CNN Philippines TV-10 Iriga CNN Philippines TV-4 Iloilo
CNN Philippines TV-8 Bacolod CNN Philippines TV-9 Cebu CNN Philippines TV-5 Cag. de Oro CNN Philippines TV-5 Zamboanga CNN Philippines TV-7 GenSan CNN Philippines TV-9 Davao
DZBS 1368 Baguio DZRL 639 Batac DZTG 621 Tuguegarao DZKI 1332 Iriga DYKW 936 Binalbagan DYKB 1404 Bacolod DYKC 675 Cebu DXKO 1368 Cagayan de Oro DXKS 1080 Surigao DXKD 1053 Dipolog DXKP 1377 Pagadian DXXX 1008 Zamboanga DXKT 1071 Davao DXDX 693 General Santos
CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011
CorporateWorld 3 Century Pacific buys out leading shrimp paste brand in N. America Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776
monday|october 31, 2016
C
ENTURY Pacifi c Food Inc. (CNPF), through its wholly owned subsidiary Century Pacific Seacrest Inc., has acquired the license to the Kamayan trademark for North America and Canada in a bid to support the growth of its international branded business.
Kamayan is one of the top brands in the US market for shrimp paste, a popular condiment in Philippine cuisine, locally known as ‘bagoong’. The brand is currently being sold in leading Asian food stores across the West and East coasts, catering primarily to their large
Filipino communities. Gregory Banzon, vice p r e s i d e nt a n d g e n e r a l manager of Branded Export, said, “This is an exciting addition to Centur y Pacific’s growing range of products and brands.” “We intend to capitalize on our manufacturing and market ing c ap abi lit ies,
plus our developing sales coverage globally, to expand the Kamayan portfolio,” he said. CNPF, the Philippines’ largest canned food company, has established market leadership locally for its brands Century Tuna, Argentina Corned Beef, 555 Sardines, and Birch Tree.
AEV posts 44% growth in income in January to September 2016 WITH its power business accounting for nearly two thirds of income, Aboitiz Equity Ventures, Inc. (AEV) reported a 44% year-onyear (YoY) increase in its consolidated net income t o P 1 7 . 1 bi l l i on f rom P11.9 billion for the first nine months of 2016. This
translates to P3.05 in earnings per share. Power accounted for 63%, followed by: • banking and financial services (22%) • food (7%) • infrastructure (7%), and • land strategic business units (1%).
Core net income amounted to P17.1 billion, 37% higher YoY. “Our efforts to pursue organic growth, invest in new assets, and strengthen operational capabilities have resulted in strong profit contributions from our power, banking and financial
services, and infrastructure business units. As we ride on t he t ailwind t hat a growing economy brings, we will continue to build a sustainable, responsible, and industry-leading enterprise,” Erramon I. Aboitiz, AEV President and Chief Executive growth/PAGE 11
These brands have also been gaining traction abroad as the company gradually builds its inter nat ional pres ence, especially where there is a strong overseas Filipino presence. C N P F ’s b r a n d e d products are available in more than 55 countries.
SM’s multiple awards in China hints at the brand’s success formula SM, one of Asia’s largest shopping mall operators, is making a mark in China as it chalks up 12 awards, so far, from various groups this year. SM currently has invested in shopping center projects in eight cities in China, including Xiamen, Jinjiang, Chengdu, Suzhou, Chongqing, Zibo,
CEB boosts flights to popular PH destinations The Philippines’ leading carrier, Cebu Pacific (PSE: C E B ) , promote s t r avel to popular Philippine destinations, through a d d it i on a l f re qu e n c i e s starting fourth quarter of 2016. Domestic traffic is expected to increase for this year’s semester and holiday break, with forward bookings reflecting growing demand for air travel to and from key destinations across the country. From October 30, 2016 onwards, CEB aims to meet this demand by adding frequencies to and from 18 domestic destinations. CEB’s flights between Manila and Cauayan will increase from four times weekly to daily. The airline will also increase services out of Manila on the following routes: Manila-Bacolod (from 49 to 52 times weekly), Manila-Busuanga (25 to 28 times weekly), ManilaCagayan de Oro (54 to 59 times weekly), ManilaCotabato (9 to 10 times weekly), Manila-General Santos (28 to 31 times weekly), Manila-Legazpi (29 to 39 times weekly), ManilaNaga (11 to 14 times weekly), Manila-Pagadian (9 to 11 times weekly), and ManilaZamboanga (25 to 33 times weekly). Travellers from the Visayas region can also take advantage of additional flights between Cebu and the following destinations: Bacolod (additional 10 times weekly service), Butuan (3 times weekly), Cagayan de Oro (6 times weekly), Davao (7 times weekly), Dumaguete (3 times weekly), General Santos ( twice weekly), Iloilo (once a week ), Puerto Princesa (8 times weekly), Siargao (twice weekly), and Zamboanga (6
times weekly). The airline also increased its flights from Mindanao, adding thrice weekly frequencies between Zamboanga and Tawi-Tawi for a total of 10 weekly flights, and an additional weekly frequency between Davao and Bacolod for a total of four weekly flights.. “By offering more flight options via our trademark lowest year-round fares, CEB consistently fuels passenger traffic, and with it trade and tourism opportunities, into communities that thrive on them. We continue to grow and develop our network to further cultivate these local economies and entice investors to devote resources on our markets,” said Atty. JR Mantaring, CEB Vice President for Corporate Affairs. CEB currently offers f lights to a total of 36 domestic and 30 international destinations, operating an extensive network across Asia, Australia, the Middle East, and USA. Its 56-strong fleet is comprised of five Airbus A319, 36 Airbus A320, six Airbus A330, eight ATR 72-500, and one ATR 72-600 aircraft. Between 2016 and 2021, CEB expects delivery of 32 Airbus A321neo, two Airbus A330, and 15 ATR 72-600 aircraft. For bookings and inquiries, guests can visit w w w.cebupacif icair.com or call the res e r vation hotlines (+632)7020-888 or (+6332)230-8888. The latest seat sales can be found on CEB’s official Twitter (@ CebuPacificAir) and Facebook pages. Guests may also download the Cebu Pacific official mobile app on the App Store and Google Play.
Flagship Century Tuna is among the leading brands in China, Vietnam and the Middle East. CNPF is engaged in the development, marketing and distribution of processed fish, meat, dairy, and coconut under its own brands, as well as the brands of others. (PNA)
Six more flights to take for white water rafting in Cagayan de Oro
Tianjin and Yangzhou, seven of which are in operation, making up 950,000 square meters of built-up area. The awards cover various categories, from executive leadership to marketing and innovation. Separate awards were given by seven different groups, comprised of China Shopping Center Development Association (China Mall), China Chain Store & Franchise Association (CCFA), Xiamen Commerce Bureau, The Commercial Space Art Alliance of China, International Council of Shopping Centers, Soupu. com, and Xiamen Press Media Group. Despite the current state of economic slowdown, China remains aggressive in developing more shopping centers, accounting for around 44% of the world’s newly developed shopping malls by April 2015. To date, there are over 4,000 shopping malls there, success/PAGE 9
4
Opinion
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monday|october 31, 2016
A student of Sun Tzu
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Last week’s article “Black swan President” drew a lot of mixed, even highly emotional, reactions from readers. A friend in the tourism industry told this writer that his establishment suffered two huge cancellations f rom f ore i g n bu s i n e s s groups because of perceived unfriendly statements of the President. Re ader Mir iam Susi wrote that President Rody Duterte’s public statements leave many citizens very confused. Because of this, Ms. Susi suggests that there is now a need to create a new executive department called D-I-C-E or Department of Interpretation, Clarification and Explanation. But reader Margaux C. Ortiz-Fabreag sees it another way. Ms. Ortiz-Fabreag believes there is a logic to what President Rody does. “Sir, I saw his Al Jazeera interview. The clarity of his thoughts as conveyed to the reporters stunned me. So different from his usual (rambling) “street corner speeches”. It is highly possible that he is adjusting his communication strategy depending on the audience. Brings to mind Sun Tzu’s The Art of War. “ S u n Tz u w r o t e :
Member:
recollection Along with the town fiesta, Christmas, and Easter, All Saints Day which we are celebrating tomorrow - is one occasion few Filipinos would want to miss. A fitting occasion for a family reunion of the living – among the dead. In the following essay entitled “ The Candles”, which I submitted ages ago for a high school assignment in English, I recalled one such family reunion. Allow me to quote the article in part. “”Mano p o, L olo,” I greeted him reverently as I gently pressed his wrinkled hand to my forehead. A faint smile of recognition showed in his face then he became sad and serene again. He had always been so since his wife, my maternal grandmother, died almost four years ago. “Toting, come and help me fix the candles,” called my sister, Victoria. “There were several pairs of candle holders beside my Lola’s tomb. I emptied the burnt out wax and lighted a new fresh candle. “Just then I heard my elder brother Alfredo softly laughing. When I turned around I saw him place his arm on my Lolo’s shoulder and talk to him as if to draw
SPEAKING
O ut
Ignacio Bunye him out of the reverie that my Lolo had shut himself in. “Then all of a sudden it occurred to me – that those two human figures were just like the two candles behind me. My brother, young, tall and strong, not yet sixteen was the newly lighted one, while my Lolo, past 84, aged, bent and spent, was slowly flickering out. “The realization of what the scene meant saddened me. I knew it was inevitable but I don’t want my Lolo to flicker out and to die. I want him to live as long as he can. I want him to be there when I graduate.” Note: You may email us at totingbunye2000@gmail. com. You may also “like” us on Facebook at “Speaking Out”.
Religion and music
Philippine Press Institute Oro Chamber
Going through hot water Think a minute…“A tea bag isn’t worth much until it’s been through some hot water.” There’s a saying in boxing: “Everybody’s got a plan—until they’ve been hit!” Sooner or later, life is going to hit and knock you down. Whether you get back up or not is your choice. Almost all people’s successes are built on their former failures. A very successful man was asked if he had ever failed. He answered: “Only in life.” The fact is, even after we’ve been knocked down we can still use our past mistakes and failures to build a bridge to our success. You know that you’re the only one who can kill your dream by quitting. Remember that just falling in the water is not what drowns you; it’s staying down there that does. Just like kites fly high because the wind pushes against them, so problems that oppose you can actually help you succeed, if you choose to believe and use them that way. There was a man who was the only survivor from a shipwreck. He drifted to an uninhabited island where he built a hut for his shelter. One evening after he returned from searching for food, he found his little
“All warfare is based on deception. Hence, when able to atack, we must seem unable. When using our forces, we must seem inactive. When we are near, we must make the enemy believe we are far away. When far away, we must make him believe we are near. Hold out baits to entice the enemy. Feign disorder, and crush him.” For the unitiated, Sun Tzu was a military general and philosopher who lived in Ancient China. He is credited with having written “The Art of War” which is now considered a masterpiece on strategy. Ho Chi Minh distributed copies of the book to his soldiers. Even General Collin Powell once admitted: “Sun Tzu has been studied for hundreds of years. He continues to give inspiration to soldiers and politicians. So every American soldier in the army knows of his works. We require our soldiers to read it.” Sun Tzu’s strategy has even found application beyond the military and into business and politics. That said, I would not be surprised if “The Art of War” is among President Duterte’s reading stuff. All Saints Day
THINK
A Minute
Jhan Tiafau Hurst hut on fire. Early the next morning he awoke to find a ship that had come in during the night. When the captain came on shore he told the man: “We saw your smoke signal so we came to rescue you.” Everything this man owned and valued in his hut had to be destroyed before he could be saved. Sometimes our Maker even uses our pain to get our attention, so we can learn our most important lessons for living well and wisely. So why not ask Jesus Christ to take charge and lead you through the hot water you’re in now? He’s the only one who can help you change your pain and problems into peace and prosperity for you and your family. The choice is yours. Just Think a Minute…
Yes, both belong together like a fish and an ocean, light and life, the voice and the ear. In the entire universe, we humans are probably the only beings capable of creating and hearing music. The ability to hear is one of the specific gifts that our Creator gave us. Our fragile blue planet is surrounded by a thin layer of gases only a few kilometers high. Only this atmosphere is the reason why sound waves can spread through the air. Everything behind this atmosphere is ruled by the sheer endless vacuum of outer space,
where galaxies and stars explode and implode in impenetrable silence. According to the biblical narrative, the world began when God broke through this deadly quiet: “And God said: Let there be light!” (Genesis 1:1). God spoke and light and life resulted from His audible voice. Because life was created by the word, it depends on the word. That is why it is in the nature of every person to listen. Like a parabolic mirror, our souls are created to listen to the eternal space of the hereafter, to try and sense whether a word, a sound or a voice is trying to
reach us from there, in order to fill us with meaning. I love music. I can’t live without. Hold on, this is not one of my earlier columns in this paper. But from time to time, I need to express myself if it comes to this topic. And, I know, that Filipinos love big tunes with great words and beautiful melodies, especially, when it comes to classical music. I experienced this many times during the last `6 years while hosting several radio shows with classical music and inspirational thoughts. +++ Email: dor ingklaus@
H ave M y Say
Klaus Doring
gmail.com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines.blogspot.com or www.klausdoringsclassicalmusic.blogspot.com.
Bible is clear: read its verses to the dead! LIFE’S INSPIRATIONS: “…For it is by grace you have been saved, through faith—and this is not from yourselves, it is the gift of God— not by works, so that no one can boast...” (Ephesians 2:8-9, the Holy Bible). -ooo PRAYING AND BIBLEREADING FOR THE DEAD: One interested reader of this column raised interesting points about our column on the Bible’s 1 Peter 3:19 and 1 Peter 4:6, both of which talk about praying and Biblereading for the dead, so that even if they died as sinners, they will still have a chance to live a life in Paradise with God. The reader’s first point:
“I will have a dilemma how to reconcile the passage recorded in Hebrews 9: 27 that man is `destined to die once and after that to face judgment…’ ” My reaction: Yes, man will die once, and after that, he is to face judgment. Ecclesiastes 12:14 of the Bible attests to that. But then, Hebrews 9:27 does not say that after a man dies, he will immediately face judgment---emphasis is on the word “immediately”. There is nothing in Hebrews 9:27 which says that man will “immediately” face judgment. What is clear, based on 1 Peter 3:19, is that man’s soul will be “imprisoned” first, evidently to await Judgment Day together with all other souls, which judgment day
will come with the Second Coming of Jesus, our God and Savior. -ooo BIBLE IS CLEAR AND U N E Q U I VO C A L : T h e reader’s second point: “… Furthermore, in the Old Testament, the Scripture d e c r e e d i t t h at i s a n abomination to communicate with the dead…” My reaction: that maybe true, but then, 1 Peter 3:19 clearly shows that Jesus not only communicated with the dead, but He even went to them and preached the Gospel to them. Clearly, if there was an Old Testament rule, Jesus changed it. What is more, reading the Bible to the dead is not communicating with them. The reader’s third point:
K ak ampi
Mo A ng Batas
Atty. Batas Mauricio “… The eternal destiny of the dead person was already determined while he or she is still alive…” My reaction: that is the view of those who have not read 1 Peter 3:19 and 4:6 yet. With 1 Peter 3:19 and 4:6, the eternal destiny of the dead batas/PAGE 9
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Banking&Finance
Money supply, bank lending grow faster in September
B
OTH domestic liquidity and bank lending grew faster in September, the Bangko Sentral ng Pilipinas (BSP) reported Friday. Domestic liquidity (M3) rose to Php 8.8 trillion, growing by 12.6 percent year-on-year last month, faster than the growth in August at 11.9 percent. The central bank said money supply growth in September was driven by demand for credit. “Domestic claims grew by 16.1 percent in September from 15.1 percent in August, due largely to sustained growth in credit to the private sector,” BSP said.
BSP said that expansion in bank loans remained robust due to lending of key production sectors, including real estate activities, electricity, gas, steam and air-conditioning supply, wholesale and retail trade, repair of motor vehicles and motorcycles, manufacturing, and information and communication. “Net claims on the central government picked up by 23.1 percent from 18.5 percent a month earlier as a result of continued withdrawals by the National Government of its deposits with the BSP,” the central bank said. Likewise, net foreign assets grew faster in
September by 13.5 percent compared to growth rate in August at 8.8 percent. “Foreign exchange inflows c om i ng f rom ove r s e a s Filipinos’ remittances and business process outsourcing receipts were the main contributors to the BSP’s NFA position. Meanwhile, the NFA of banks expanded due mainly to growth in banks’ foreign assets, resulting from higher deposits with other banks and investments in marketable debt securities,” the BSP said. The BSP also reported Friday that outstanding loans of commercial banks expanded by 17.7 percent in
September from 17.3 percent in its previous month. Loans for production activities, accounting for over 80 percent of banks’ aggregate loan portfolio, increased by 17.3 percent. Loans for household consumption also went up by 21.3 percent in September from 20.3 percent growth in August. “Going forward, the BSP will continue to ensure that domestic credit and liquidity conditions will keep pace w it h ove r a l l e c onom i c growth while remaining consistent with its price and financial stability objectives,” the central bank noted. (PNA)
BSP revises rules on dormant accounts, bank fees THE Bangko Sentral ng Pilipinas (BSP) has revised t h e r u l e s on d or m a nt deposits and bank fees to further protect the public. Currently, bank accounts that are considered dormant are those that have no deposits or withdrawals for about two years. Dormant fees range from about Php 200 and above per month. However, the BSP said its policy-making Monetary Board (MB) has revised the rules and now require banks and non-stock savings and loan associations (NSSLAs) to implement a monthly dormancy fee not higher than Php30. The fee can only be imposed “if there is no deposit or withdrawal from the account for five years, if the deposits is below the minimum monthly average
daily balance, and if the depository bank or NSSLA has complie d wit h t he notification requirements,” it said. Banks are now required to notify dormant accounts holders of the situation in three instances. First is before the start of the dormancy period; second, when the dormancy fee will be imposed; and third, when the account will be placed under escheat or when it will reverted to the National Treasurer in line with the Unclaimed Balances Act. The BSP said a depositor must be informed through mai l, c our i er del iver y, electronic mail (e-mail) telephone call and other means 60 days before the account becomes dormant and 60 days before the imposition of dormancy
fees. For escheat, banks are required to inform owners of soon-to-be dormant account of the process 60 days before the proceedings commence. B an ks are now a ls o required to post fees of their products and services on their web sites and in conspicuous places in banks. “Clients are granted the opportunity to manifest objection to amendments to fees’ terms and conditions and the right to exit the contract without penalty,” the BSP said. Meanwhile, the central bank said new regulations were also approved for domestic fund transfers or remittances. Under the enhanced rules, only the sender should be charged the service fee. “This enables
determination of the exact amount to be received by the beneficiary and allows consumers to decide on the most cost-efficient means for remitting money,” the BSP said. The central bank said the new rules would take effect six months after the publication of these on a national daily but “the notification requirements and record retention of accounts subject to escheat shall be effective 15 days after public to cover the next round of escheat in January 2017.” “ T h e B SP fo s t e r s a robust consumer regulatory environment to enable citizens to make wis er financial decisions and to contribute actively to the promotion of Financial Stability,” it added.
5 OROBANKERS DIRECTORIES CAGAYAN DE ORO CITY
A PUBLIC SERVICE BY:
AMANAH/ISLAMIC BANK V. Neri Street Carmen, Cdoc 858988/8587965 / 722274
METRO BANK- COGON Osmeña Hayes St. Cdoc | 726438/8572057
ASIA UNITED BANK Cor.Camp Alagar Road Lapasan, Cdoc 729678 / 8568893
METRO BANK- CARMEN Max Suniel St. Carmen, Cdoc 8581722/ 8585162
BDO – VELEZ Velez-Rn Abejuela Street, Cdoc 2314246/8572075
METRO BANK- LAPASAN CM Recto Lapasan HW, Cdoc 724461/8561721
BDO – SM G/F SM City, Master Son’s Avenue Upper Carmen Cdoc | 8592623/8592637
METRO BANK- OSMEÑA Brgy Osmeña St. Cdoc | 722014 /8800924
BDO – XU XU Lib. Annex Corrales St. Cdoc 8574108 / 8573796
METRO BANK- CORRALES Corrales Avenue, Cdoc | 8572635/728731
BDO – CDO HAYES Trendline Bldg.,Hayes Street, 8568151/727405
METRO BANK- GAISANO 8561720
BDO – COGON Sky hi Bldg JR Borja St. Cogon, Cdoc 8577963/ 725209/ 725203 BDO – OSMEÑA Osmeña corner Ramon Chavez St. Cdoc 724567/8563727 BDO – LAPASAN Lapasan Highway Cdoc 8563233 /8563234 / 725178 BDO – RN- PELAEZ George Town CyberMall Rn Pelaez Blvd Kauswagan Cdoc | 8562617/729052 BDO – CARMEN Maxsuniel cor.V Neri St. Carmen, .Cdoc 8584854 /8581133 BANK OF COMMERCE- VELEZ Akut- Velez St.Cdoc | 8564371 / 726880 BANK OF COMMERCE- LAPASAN
CM Recto Ave. Lapasan, Cdoc, 8563991/727731
BPI FAMILY SAVINGS BANK RER kauswagan,HW Cdoc 8573733 /722519 BPI FAMILY SAVINGS BANK Gaston Park Cdoc | 8801518 BPI – LAPASAN Cm Recto HW Lapasan Cdoc 724076/ 8524602 BPI- VELEZ Velez-JR Borja St.Cdoc 8564213/722406 BPI – CAPISTRANO Capistrano St. Cdoc 8574264/8574263 BPI- COGON Osmeña St. Cdoc 8571297/8571298 CHINA BANK –GAISANO 745887/745880 CHINA BANK- JR BORJA JR Borja St. Cdoc 8572212/8573274 CHINA BANK- LAPASAN CM Recto Lapasan HW Cdoc 8561325 /722240 CHINA BANK – CARMEN Max Suniel, Cor. Yakal St. Cdoc 8583903/723091 CHINA BANK – DIVISORIA RN Abejuela St. Divosoria Cdoc 8575759/722641 CITY SAVINGS BANK TS Fashion Ave.Justo Ramonal Corner St.Cdoc 2316060/ 2316059 CHINATRUST Suite U&5 G/LGateway Tower Lapasan Lkk Cdoc 8521846/8521844 D’ASIAN HILLS BANK HW. Lapasan Cdoc | 8564201/ 8564201 D’ASIAN HILLS BANK Vamenta Carmen Sts. Cdoc | 8585366 DBP – CORRALES Corrales Ave., St. Cdoc | 8572087/722649 DBP – CAPISTRANO JR Borja Capistrano St. Cdoc 8567776/722819
PLANTERS DEVELOPMENT BANK
Tiano Bros St. Cdoc | 727083 /727082 PHILTRUST BANK Ramonal OsmeñaSt. CDO 8807234/2316694/2316695 PNB- CORRALES Corrales Avenue Cdoc | 729500 / 729723
PNB- LKK MALL NORTH CONCOURSE
LKK Mall N.Concourse Cdoc 8574149/8575682
PNB- CARMEN Elipe Bldg.Carmen, Cdoc | 8583158/ 8584203 PNB- LKK LKK Lapasan, Cdoc | 8564347/722872 PNB CDO– DIVISORIA Tiano Bros.Cruz Taal St., Cdoc 722861 /722816 PNB CDO– LAPASAN LKK Center Lapasan, Cdoc | 8564732 / 723992 PNB CDO– COGON LKK Center Lapasan, Cdoc 8571991/ 723992 PHILIPPINE POSTAL SAVINGS BANK, INC. bels_domingo@yahoo.com.ph Rizal Chavez Cdoc 8572194/725438 PS BANK Velez Corner A. Mabini St., Cdoc 8574183/725184 PHILIPPINE VETERANS BANK Tiano-Abejuela St. Cdoc 722644/8573386 QUEEN CITY DEVELOPMENT BANK, INC. Sacred Heart Mont. Cm RectoAve., Cdoc 8562390 RCBC- VELEZ Velez-Borja St. Cdoc | 8564982/8568888 RCBC- COGON Simplex Bldg. Osmeña St. Cdoc 8562888/725863/8521329 RCBC- LAPASAN Cm. Recto Lapasan HW. Cdoc 8561888/722449 RCBC- LKK Gateway, Tower 1 LkkCenter, Cdoc 8563707/722449 RCBC SAVINGS- CARMEN Walingwaling St.,Carmen St. Cdoc 8585793/ 8586248 RCBC SAVINGS- VELEZ Velez St. Cdoc | 729083/8562460 RCBC SAVINGS- AGORA 8807891/8807892 RURAL BANK OF CABADBARAN, Inc.
#58 Tiano FernandezSt.CDO 727215/ 8563552 *805
SECURITY BANK- OSMEÑA Osmeña St. Cdoc | 8563965/ 723411/728774 SECURITY BANK- LKK Limketkai | 8801258/8801625
EAST WEST BANK #5 Juan Sia Bldg. Apolinar Velez St.Cdoc 8578801/720081
SECURITY BANK- VELEZ Velez Montalvan St., Cdoc | 728334/856632
EAST WEST BANK Cogon De Oro Constraction Bldg. LKK Drive 8500339/8500331
STERLING BANK OF ASIA Tiano Velez St. CDO | 8528171/8528168
ENTERPRISE BANK INC. Centro Mariano Bldg Osmeña St. Cdoc 723869/ 3093395 FIRST CONSOLIDATED BANK CM Recto Ave., Cor.Agudo Road Cdoc 8565360/2316678 LBP – CAPISTRANO Capsitrano St. Cdoc | 8565515/727678 LBP – VELEZ LunaVelez St. | 723549/8563198 LBP – PUERTO Puerto Cdoc | 8558858 MAYBANK JR Borja Tiano Cor. Bldg. Cdoc 8574439/726060 METRO BANK- DIVISORIA Pabayo Abejuela St. Divisoria Park, Cdoc 724783/8576999
Camiguin Governor Maria Luisa D. Romualdo (4th from left), Camiguin Representative Xavier Jesus D. Romualdo (5th from left) and Mambajao Mayor Jurdin Jesus M. Romualdo together with other local officials lead the ceremonial opening of “Ugmad” on 23 October. The Ugmad Agro-Technology Trade Fair is one of the core events of the 37th Lanzones Festival that will run until 30 October. (DTI Camiguin)
PBCOM Tiano-HayesSt. Cdoc | 726519/8571558
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
6
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monday|october 31, 2016
Primavera City hosts tribute to Italian singer Mike Francis By Kim Namocatcat
Soon-to-rise condominium proj e c t Pr imavera Cit y paid tribute to the music of the late Italian musician, Mike Francis last October 21 at the Ringside Sports Bar in Uptown Cagayan de Oro. The event was dubbed “L e t Me In , Pr i m ave r a City”, borrowed from the title of one of the more popular singles from among the hits of Mike Francis. Dancing and sing ing t he nig ht away at the event were valued clients, accredited brokers and sellers, executives of Primavera City developer It a lpi n a s an d s p e c i a l guests. “Just like our chairman and CEO Romolo V. Nati and myself, Mike Francis i s a n It a l i a n w h o w a s warmly received here in the Philippines - and we hope you receive Primavera City
just as warmly,” expressed by A rc h it e c t G i ov a n n i Giusella, IDC Senior Advisor for Operations, during his welcome remarks. “Mike Francis represents things Italians and Filipinos share: Love for music, love for song….. We t h i n k t h at w e a l s o share similar tastes when it comes to desig n and architecture, continued Giusella. He added that Mike Francis passed away in 2009, t he s ame ye ar that Italpinas started as a company. “Friends” and “Survivor” are some of Mike Francis’ greatest hits that eventually b e c ame p opu l ar i n t he Philippines, during the 1980s and 1990s. The hit singles by Mike Francis were played by live act, Cholita and the Trulse.
Architect Giovanni Gusella, IDC Senior Advisor for Operations, shares his message about Mike Francis. photo supplied
Globe Telecom, The Pokémon Company and Niantic, Inc. Enhance The Pokémon GO Experience for Filipino Gamers The Pokémon Company, Niantic, Inc. and Globe collaborate for new PokéStops and Gyms.
Globe Telecom together with The Pokémon Company and Niantic confirmed their partnership to make the Pokémon Go experience more accessible and enjoyable to Filipinos. Leading the announcement for this exclusive partnership were Globe Chief Commercial Officer Albert De Larrazabal, Globe Senior Advisor for Consumer Business Dan Horan, Niantic Chief Executive Officer and founder John Hanke, and Susumu Fukunaga, Corporate Officer of The Pokémon Company. One of the highlights of the partnership was that Globe retail locations and charging stations have become PokéStops and Gyms in game. To help spread more Pokémon GO joy, Globe will also be working with its partners, namely Ayala malls, Puregold, Robinsons Malls and SM Supermalls.
The Pokémon Company, creators of one of the most p opu l ar e nte r t ai n me nt properties in the world, Niantic, Inc., innovative developer and publisher of ‘real world games’, and Globe Telecom, the Philippines leading mobile brand, today have officially announced a new partnership. “Pokémon GO fever has certainly taken over majority of Filipinos’ digital lifestyle. From walks to ‘lure parties’ the take-up on the mobile game continues to grow. We want to give our customers more reasons to enjoy the game, and the launch of new PokéStops and Gyms is just
the start of our collaborative efforts,” says Globe Senior Adv is or for C onsumer Business, Dan Horan. Starting October 28, Pokémon GO trainers will find that Globe retail locations and charging stations have become PokéStops and Gyms in game, with more and more PokéStops sprouting across the country. To help spread more Pokémon GO joy, Globe will be working with its partners, namely Ayala malls, Puregold, Robinsons Malls and SM Supermalls. With this, players will be able to see more of these markers on their Pokémon GO apps for more chances of
catching Pokémon to expand their Pokédex. Globe will also ensure its customers have better accessibility to the app through different mobile offers. On Globe Prepaid’s leading GoSURF50 mobile promo, customers will be able to access Pokémon GO as one of the free apps within the bundle. Globe customers can also download the free Pokémon GO promo on the Globe Switch app. Included in the partnership are distribution rights to Pokémon merchandis e, including digital connectors, cool gadgets and a selection pokemon/PAGE 9
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7
Lifestyle
Swedish retail giant H&M opens 18th Ph Store in Centrio
monday|october 31, 2016
S
By Mike Baños
wedish retail giant H&M Hennes and Mauritz, Inc. has opened its 18th store in the Philippines at Ayala Centrio Mall in Cagayan de Oro City. Over a thousand excited shoppers queued as early as the day before to be the first to see only its second store in Mindanao after Davao. H&M Cagayan de Oro has more or less 1,500 square meters of store space and opens regularly from 10am9pm. It carries a full assortment of H&M products including ladies, men’s, kids, shoes, accessories and lingerie, and also
has complete sports, denim and underwear departments for both men and ladies. Alert environmentconscious shoppers will find an array of Conscious and sustainably-produced products, and will be delighted to avail of the option to donate used clothes for a discount voucher they can use for their next purchase under H& M’s Garment Collecting Program.. Fredrik Famm,
H&M Country Manager for South East Asia, sees a lot of potential in his assigned region, especially the Philippines. “By the end of the year we will have around 20 stores in the Philippines,” Famm said an exclusive media interview prior to the 27 October Centrio store opening. “We have big plans for the coming years given the country’s rowing population, growing middle class, growing disposable income, and growing fashion interest.” “We’ve been in the Philippines for exactly two years
Fredrik Famm, H&M Country Manager for South East Asia, fields questions during the exclusive media preview held 27 Oct at Centrio Mall. Also in photo is Danreb Mejia, H&M Ph Head of Communications & Press (RMB, NPN)
H&M Execs Fredrik and Henrik in a huddle prior to the Centrio store opening
Ed Montalvan and other media are given a quick tour of the store prior to its 27 Oct opening by AList Dir Cybill Guynn (RMB, NPN)
since October 2014,” he said. “It’s been an amazing journey, we’ve been very well received, so we now have 18 stores in the country, it’s been a very quick expansion, and Filipino customers have embraced us in an amazing way.” The country’s robust economy has obviously been the driver for the store’s fast expansion. “We see a lot of potential in the Philippines, there is a lot of fashion interest, we see that segment is growing very quickly, and we see we have something to offer that is not yet fully present in the market,” Famm said.
“We offer fashion, quality and price, and our products are made in a sustainable way. We think we can manage this mix better than most of our competitors.” H&M has sold out collections and there have been long queues whenever they open a new store. Apparently, fashion conscious Pinoys who’ve been abroad have been delighted to find the same merchandise at the same prices in H&M’s Philippine stores. “The fashion you see in Cagayan de Oro is the same that you can see in London, Paris, New York,” Famm stressed. We believe fashion is global and everything travels fast these days via internet and social media. We want customers to have the same experience when they enter our store in Cagayan de Oro as what they experience when they enter a store in Europe or US.” Thus, the chain has experienced sold out collections and long lines whenever they have opened a new store in the Philippines. “We want Cagayan de Oro customers to be able to find the same fashion in bigger cities in Europe and the US. We have the same collections everywhere and we
build our stores the same way,” he added. Providing fashion for every age group at affordable prices has endeared the store to fashion conscious Pinoys eager to make their own individual fashion statements. “We believe customers are looking for the same fashion all over the world. Looking at the diversity that we have, everyone must be able to dress their own personality,” Famm said. “Every day you have new fashion arriving in the store, and that’s what makes us extremely competitive. We want customers to find something new every time they visit us so customers should be able to come back every week and find something interesting.” Pinoy shoppers who’ve shopped in H&M stores all over the world will be further delighted to know they’re paying the same prices for the same merchandise they’ve been buying aboard. “We aim to have the same prices all over the world except for local differences due to customs duties, taxes, logistics, or exchange rates, but more or less we have the same price levels especially within the Philippines,” Famm assures.
BusinessWeek MINDANAO www.businessweekmindanao.com
Lifestyle 8
Monday | October 31, 2016
Halloween Spooktacular Night
Eventologist and Stylist Shine Casiño organized this fun Halloween Party last Saturday October 29, 2016 at Limketkai Luxe Hotel attended by some of Cagayan de Oro City's beautiful people. It was a night full of friendship and happiness. Everyone came in their chosen costumes like Maleficent, Princess Anna of Frozen, Peter Pan, Cinderella, bride, fairy, witch, pirate, angel, demon and so on. To make it more fun, Limketkai Luxe Hotel General Manager Jerome de la Fuente gamely accepted to be the judge of "The Best in Costume" contest for the night. The winner received a gift check from MAGS Boutique.
BACK from Left to Right - Lorelie Rupenta, Cathy Tan, Shine Casiño, Bhing Dalidig, Sweetie Tan, Jellah Galupo, Cherry Pink Escobar, Pitimini Salazar, Lalaine Evangelio, Rose Gil, Gigi Lazaga, Mitzi Lim MIDDLE from Left to Right - Lowella Hernandez, Limketkai Luxe Hotel General Manager Jerome de la Fuente, Michelle Francisco, Mags Cue, Christine Alvarez FRONT from Left to Right - Lloyd Sacala, Karl Butaslac, Ruben Tayanes
Best in Costume winner, Gigi Lazaga, in her Maleficent costume awarded by Mags Cue and Shine Casiño
My favorite photographer, Jade Adaza, made the night more fun by taking loads of photos of everyone. I always love his stolen shots.
I didn’t have time to buy a Halloween costume, so I just decided to be ...Vampire M
It is only during Halloween Parties that we get to bring out our alter egos or hidden fantasies and express them through life-like costumes. I hope that you all had a fun Halloween! Love,
M
Best in Costume Finalists - Top 6 From left to right: Josie Ilogon, Karl Butaslac, Christine Alvarez, JUDGE Jerome de la Fuente, Gigi Lazaga, Cathy Tan, my hair and make-up artist Pitimini Salazar
My beautiful friends: Cathy Tan of the famous pride of Iligan City Cheding’s Peanuts and Mags Cue of MAGS Boutique
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monday|october 31, 2016
Success... from page 3
with SM staying in the thick of competition by attracting at least 100,000 shoppers a day in its Xiamen outlet alone. SM’s China Operations Assistant Vice President Ronald Allan Brosas attributes SM’s success to the company’s focused leadership and innovative operational models. Brosas claimed that SM’s record foot traffic of more than 500,000 was achieved because of efficient marketing promotions and activities. “By positioning ourselves to target the mid-level market, SM maximizes the consumption capability of the middle class. This s a m e p o s it i on i n g a l s o makes us available to highend customers, inviting to the general market and millennials, practically covering most of the different customer segments,” Brosas explained. To st ay af lo at amid the growing popularity of e-commerce over brick-andmortar retail in China, SM ventured into offering goods that cannot be purchased and enjoyed online. “We are increasing space for dining , he a lt hcare, entertainment, and other experiential businesses. We will also add improved services for women, elderly, PWDs to enhance their shopping experience. An unforgettable experience for our shoppers is what we are driving at,” Brosas shared.
Batas... from page 4
person can still be changed, as Jesus showed when He went to the “imprisoned souls”, and as emphatically proved by 1 Peter 4:6 Other wise, the Bible would not have put in 1 Peter 3:19 and 4:6 anymore. Now, if the Bible itself is saying that we must pray and read (or recite) the Bible for the dead, what is our authority for saying otherwise? Are we not desecrating the Bible by saying we should not believe it? -ooo 1 PETER 3:19 AND 1 PETER 4:6: For the benefit of those who are reading this for the first time, here is 1 Peter 3:19 once more: “For Christ… was put to death in the body but made alive in the Spirit. After being made alive, he went and made proclamation to the imprisoned spirits---to those who were disobedient long ago when God waited patiently in the days of Noah while the ark was being built…” Here is 1 Peter 4:6: “For this is the reason the gospel was preached even to those who are now dead, so that they might be judged according to human standards in regard to the body, but live according to God in regard to the spirit…” -ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 HOURS a day, in the Philippines and the
world at www.facebook.com/ angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.
Pokemon... from page 6
of apparel that is perfect for the holiday season. Globe held today the first ever Pokémon festival in the Philippines during Halloween weekend. Free and open to all, guests had a wonderful time meeting Pikachu, enjoying original Pokémon screening, costume contests and many more family surprises. Pokémon GO players also took part in walks and tours around BGC, Taguig. To get updates on Globe and its latest events and offers just visit the Globe of f i c i a l Fa c eb o ok p age at w w w.Fa c eb o ok .c om/ GlobePH or @EnjoyGlobe on Twitter and Instagram. About The Pokémon Company The Pokémon Company (President and Chief Executive Officer, Tsunekazu Ishihara) was established in 1998. Headquartered in Tokyo, The Pokémon Company’s operations span four key areas: video game production and development, trading card game business planning and promotion, licensing and quality control, and management of all official outlets selling Pokémonrel ated me rchandi s e in locations throughout Japan. Upholding the brand through strict product evaluation and support for licensees, it ensures that the role-playing world of Pokémon remains a fresh, fun and exciting connective medium for players around the globe who enjoy collecting and exchanging the unique characters, which have grown in number to more than 700 since the release of the first video game in 1996. About Niantic, Inc. Niantic, Inc. builds mobile real-world experiences that foster f un, exploration, discovery and social i nt e ra c t i o n . O r i g i n a l ly incubated within Google, Niantic, Inc., spun out in 2 0 1 5 , w ith investme nt s from Google, The Pokémon Company and Nintendo. The company’s immersive realworld mobile game Ingress has been downloaded more than 15 million times and is played in more than 200 countries and territories worldwide. Niantic, Inc., also developed and published Pokémon GO, the real-world Pokémon game for iOS and Android mobile dev ices that was downloaded more than 500 million times in its first two months. For more information on Niantic, please visit www.nianticlabs. com. About Globe Telecom G l o b e Te l e c o m i s a leading full service telecommunications company in the Philippines, serving the needs of consumers and businesses across an entire suite of products and services
Duterte Switches On DOE Electrification Projects In ARMM The Duterte administration is accelerating the electrification of the provinces comprising the Autonomous Region in Muslim Mindanao (ARMM) as part of its peace and development efforts in Southern Philippines. President Rodrigo R. Duterte and Department of Energy (DOE) Secretary Alfonso G. Cusi on Saturday (October 29) led the ceremonial switch-on of electrification projects of the DOE and the National Electrification Administration (NEA) held at the ARMM Regional Government Compound in Cotabato City. On-grid electrification projects include the DOE's Nationwide Intensification of Household Electrification (NIHE) and ER 1-94 Electrification Funded Projects and NEA's Sitio Electrification Program and Barangay Line Enhancement Program. For Maguindanao and Lanao del Sur, a total of P371.71 million worth of electrification projects from 2015 to 2016 will benefit some 34,238 households in the two provinces. Next year, a P4.84 million electrification projects will benefit 166 households. For Tawi-Tawi, a total of P91.62 million worth of electrification projects in 2015 to including mobile, fixed, broadband, data connections, i nt e r n e t a n d m a n a g e d services. Its principals are Ayala C or poration and Singtel who are acknowledged industr y leaders in the country and in the region. For more information, visit www.globe.com.ph. Follow
2016 will benefit some 1,620 households. For 2017, a P18.31 million electrification project will benefit 2,263 households. For Basilan, a total of P60.6 million worth of electrification projects in 2015 to 2016 will benefit 889 households in the province. For 2017, a P2.81 million electrification project will benefit 270 households. And for Sulu, a total of P50.3 million worth electrification projects will benefit 2,628 households. In 2017, a P10.88 million electrification project will benefit 1,345 households. For off-grid electrification, the DOE has initiated the Household Electrification Program (HEP) where electrification projects worth P610 million will be implemented by electric cooperatives in ARMM until 2017. Duterte and Cusi also graced the ceremonial turn-over of 30 units of photovoltaic (PV) solar home systems to ARMM. The DOE completed a total of 3,868 PV solar home system units in the provinces of Tawi-Tawi, Basilan and Sulu under its HEP. Next year, the DOE will deliver a total of 3,878 units of the PV solar home system in Tawi-Tawi (2,263 units), Basilan (270 units)
Globe Telecom on Facebook at www.facebook.com/GlobePH as well as @EnjoyGlobe on Twitter and Instagram. About CLICK! Licensing Asia Inc. CLICK! Licensing Asia Inc., (Chief Executive Officer, Marilu Magsaysay Corpus) was established 18 years ago
and Sulu (1,345 units). The DOE also donated a total of 30 units of 30Wp PV solar home system to ARMM. This was received by ARMM Governor Mujiv S. Hataman on behalf of household beneficiaries in the three provinces. The President's last stop was the ceremonial awarding of a cheque worth P13.833 million to Maguindanao Electric Cooperative, Inc. (MAGELCO) for the implementation of the NIHE program that will benefit 3689 households within its franchise area. Under the NIHE program, the DOE provides assistance amounting to at least P3,750 as grant subsidy to each eligible household for the cost of house-wiring and additional service drops per housing unit. The NIHE program will be implemented by MAGELCO in the municipalities of Ampatuan, Buldon, Matanog, Barira, Datu Abdullah Sangki, Datu Odin Sinsuat, Datu Piang, North Upi, Parang, South Upi, Sultan Kudarat, Sultan Mastura, Sultan Sa Barongis, Rajah Buayan, Talayan, Guindulungan and Talitay. The cheque was received by MAGELCO General Manager, Sultan Ashary P. Maongco.
and is headquartered in Manila, Philippines, is an appointed master licensee of Pokémon on Syndication, Licensing and Merchandising. CLICK! represents worldclass properties including pre-school, entertainment, gaming, fashion and lifestyle brands. It has established
its prominence in the Asian market through its in-depth knowledge of the licensing business and Asian culture. CLICK! values partnerships with their licensees, retailers and Licensors, and recognizes them as an integral component in reaching out to the market.
BusinessWeek MINDANAO www.businessweekmindanao.com
FEATURE 10
Monday | October 31, 2016
TWO-PRONGED DIRECTION IN POVERTY ALLEVIATION “Productivity and Highly-Skilled Workforce”
By Joe P. Palabao
T
ESDA, under the new dynamic leadership of Secretary Guiling “Gene” Mamondiong now embarks into a twopronged strategy towards poverty alleviation which are “productivity and highly-skilled workforce” in response to the ten-point agenda of the President, His Excellency Rodrigo Roa Duterte. First and foremost, it will endeavor to delve on TVET for global competitiveness and secondly back to back with TVET for social equity which will cover the 42,000 Barangays from all over the country. TVET for Global Competitiveness will be pursued by setting of standards that exceeds, if not at par with the ones set internationally, continuous adaptation of the most recent
Secretary GUILING “Gene” MAMONDIONG TESDA Chief
technologies and innovation, and conform with the demands of the industries as well as actively strengthen public private partnerships. At the same time, TVET for Social Equity will be promoted through the identification and supplying of the specific skills needs of each and every 42,000 Barangays, ensure a more holistic, flexible, product and service oriented and community-
LEO V. VELEZ TESDA Provincial Director - Misamis Oriental
driven approach to training delivery and tirelessly engage into consultations and collaboration of the grassroots levels and with other government agencies. Groundwork is already being prepared to assure that TVETs in the country becomes a driving force for change and in the upliftment of the lives of the Filipino that contributes to the socio-economic development of our nation as a whole. In an interview, Provincial Director Misamis Oriental Leo V. Velez told Business Week Mindanao that TESDA twopronged direction in poverty alleviation is based on the 5th and 7th of the 10 –point socio economic agenda of President Rodrigo Roa Duterte. Promote rural and value chain development toward increasing agricultural and
President RODRIGO ROA DUTERTE
rural enterprise productivity and rural tourism and invest in human capital development, including health and education systems, and match skills and training to meet the demand of businesses and the private sector. Furthermore, twopronged direction of TESDA in Poverty Alleviation is for TVET to have productive and highly-skilled workforce in order to gain public trust and accountability, efficient and effective service delivery. TVET for global competitiveness will set standards on technology and innovationdriven and are benchmarked
internationally to include industrydriven partnerships (public-private). Thus TVET will arrive at a certain level for Social Equity to area specific needsbased (barangay) and community driven. Considered also is the flexibility in the delivery of product and service oriented with value chain approaches and collaboration of all agencies with backward to forward linkages. The approaches are resource based, holistic approach, consultative and participatory. TVET will ensure to produce wage/ self-employed workers, industry workers, basic education & higher
education graduates, trainors, MSMEs, industries, local government units (CTECs). Client based beneficiaries to include barangay leaders of the 42,000 barangays in the country today, urban & rural poor, farmers, fisher folks, Indigenous Peoples (IPs), women, rebel returnees/ combatants, drug dependents, repatriated OFWs, OSYs and family enterprises. The industry salutes Secretary Gene Mamondiong for such an immense work for public trust and accountability, efficient and effective service delivery of TESDA for the progress of our nation.
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monday|october 31, 2016
Lower... from page 1
true generation rates of 2.00 pesos per kWh,” said Engr. David A. Tauli, president of the Mindanao Coalition of Power Consumers (MCPC). “Residential consumers in Mindanao will get a reduction of 2.20 pesos per kWh compared to what they are paying now.” MCPC is a coalition composed of a cross-section of power consumers in Mindanao coming from electric cooperatives, private distribution utilities academe, consumers, and residents. It has been a close ally of the Association of Mindanao Rural Electric Cooperatives (AMRECO) and shares the group’s advocacy to get the Duterte government to allocate to residential consumers in Mindanao the entire generation of the hydroelectric power plants on the Agus and Pulangui rivers. A M R E C O Pre s i d e nt Sergio C. Dagooc earlier said they would request the Mindanao Power Monitoring Committee (MPMC) Technical Working Group to implement measures which will make available to distribution utilities the remaining capacity of the APHC for exclusive distribution to residential consumers. “Instead of being allocated to industries and the systems operator, the cheap hydro power should be allocated to electric cooperatives or private distribution utilities, because they are the ones serving the poorest of the poor, who are the targets of this administration for the reduction of electricity rates,” Dagooc stressed. Tau l i s ai d t he tot a l generation of the hydro plants in 2015 was 3,858 gigawatthours (GWH), or 38% of the total generation of all power plants in Mindanao (10,000 GWH). “On a good year, the hydros generation could exceed 4,500 GWH, so the reduced figure may be a result of the suppression of the AP generation, e.g., by using the hydro plants as ancillary reserve, with consequent spilling of water from the dam,” he explained. Since residential consumers only consumed 3,151 GWH in 2015 (31% of total consumption, including system loss, in Mindanao) there is sufficient electricity from the hydro plants to supply the present and future electricity needs of residential consumers in Mindanao. “At present, the bundled rate for generat ion by government-owned power pl ants in Mind anao is 3.00 pesos per kWh, while the average rate of bulk generation from all sources in Mindanao in 2015 was 4.20 pesos per kWh.” Residential consumers stand to have their electric bills reduced by P1.20 per kWh (and save P120 on the monthly bills of poorer households that consume an average 100 kWh monthly)
once this is implemented. MCPC also supports AMRECO’s advocacy to stop the privatization of Mindanao’s hydropower plants. “Privatization will increase the rates of the hydro plants to at least 4.00 pesos per kWh, or double their true rates. That will mean windfall profits of P8-billion every year for the private generation companies that will either buy the hydro plants, or their independent power producer administrator (IPPA) contracts, all to be paid for from the pockets o f M i n d a n a o’s p o w e r consumers,” Tauli said. “Now that there’s a surplus of power in the grid, we will ask NGCP to get their ancillary reserves elsewhere, so the cheap power coming from Agus-Pulangi can be allocated to the coops and private utilities ser ving households who rightfully deserve to benefit from the island’s patrimony which rightfully belongs to the people,” Dagooc added. Should the AMRECO petition be approved by the president, the electricity price from thermal power plants in Mindanao is likewise expected to fall given the increased competition for the surplus electricity now available from the grid (300MW) plus another 700MW that would be freed up by DUs from their contracts with private power generating companies, making available a total of 1,000 MW to benefit industrial users and the systems operator. “We are now drawing up President Duterte’s vision for consumers, especially l owe r i ng t he r ate s for electricity and the eradication of brow nout s ,” E ne rg y Undersecretary Benito L. Ranque told participants at a round table discussion on the development of a Social Development Framework for the Energy Sector hosted by the First Bukidnon Electric Cooperative Incorporated (FIBECO) and facilitated by Balay Mindanaw last 13 September 2016 at Maramag, Bukidnon. “We are here in behalf of those households which cannot even afford the benefits of electricity, whose experience has been a cycle of one disconnection after the other, because of their incapacity to pay,” Ranque stressed. “Now that we have a president who understand the need for social development, let’s take advantage of this opportunity to take up the cudgels for these unfortunates whose plight may never have been discussed in the DOE, the ERC or in Congress.” Ranque noted how the Philippines’ energy industry has made billions for a few which are ironically being paid for by millions who share very little of those profits. “Ideally, we are looking at how we can restructure this unfortunate situation perpetuated by the R.A. 9136 or Electric Power Industry Reform Act of 2001 (EPIRA) so those who earning billions from this industry share the profits which they keep
for themselves instead of pursuing social development, and passing on risks to the government and consumers,” he said.
Source... from page 1
both our urban and rural areas will be undertaken,” he said. On Wednesday, after t h e Ja p a n - P h i l i p p i n e s Summit Meeting, Japanese Ambassador to the Philippines Kazuhide Ishikawa and Philippines Foreign Affairs Secretary Perfecto Yasay Jr. signed and exchanged notes concerning two yen loan projects amounting to 21.383 billion yen. The two projects are the Maritime Safety Capability Improvement Project for the Philippine Coast Guard (Phase II) and Harnessing Agribusiness Opportunities through Robust and Vibrant Entrepreneurship Supportive of Peaceful Transformation (HARVEST). The first project aims to construct two patrol ships for the Philippine Coast Guard and improve its capabilities “to quickly and appropriately respond to maritime incidents, such as search and rescue, and maritime law enforcement. It is expected that this cooperation will contribute to the enhancement of the maritime safety of the Republic of Philippines.” HA RV E ST a i m s “t o promote activities that contribute to the creation of employment opportunities and the enhancement of household income through the improvement of access to financing and the vitalization of economic activities in the Autonomous Region in Muslim Mindanao and its environs by providing necessary funds for investment in plant and equipment, operating capital, etc. to private businesses and agricultural cooperatives there. It is expected that this cooperation will contribute to peace and development in that region.” “It was clear to me and to everyone that Japan is, and will always be, a true friend of the Philippines,” Duterte said. He said his three-day state visit there was another defining moment for the solid and strategic partnership, with the shared meaningful history and transformation of the relations between the Philippines and Japan to excellent levels. “This relationship stands on unshakable and firm ground, cemented with mutual trust and respect,” he added. Duterte said both countries acknowledged the importance of vibrant political and defense exchanges for a stable and secure environment by enhancing capabilities in maritime security and maritime domain awareness. He stressed that Japan will play a vital role in modernizing the Philippines’ capacities as a nation with maritime interests to protect. “The acquisition of more
maritime and air capability assets are crucial in addressing traditional and emerging threats to our nations, including piracy, criminality at sea and terrorism, as well as in responding to disasters,” he said. Republic Ac t 8182 defines ODA as loans or grants administered with the objective of promoting s u s t ai n abl e s o c i a l an d economic development and welfare of the Philippines. It adds: “ODA resources must be contracted with governments of foreign countries with whom the Philippines has diplomatic, trade relations or bilateral agreements or which are members of the United Nations, their agencies and international or multilateral l e n d i n g i n s t i t u t i o n s .” (Antonio L. Colina IV/ MindaNews)
Peace... from page 1
lasting peace for the peoples of Mindanao and for our country,” he said. Before leaving for Japan on Tuesday, Duterte said Mindanao would be the “central focus” of his state visit from October 25 to 27 “to put on track this island region towards a just and lasting peace and development.” “In all my interactions in Japan, it was clear to me and to everyone that Japan is, and will always be, a true friend of the Philippines,” he said. D ute r te a d d e d t h e y signed deals with Japan and its largest companies on investments in manufacturing and agriculture that will generate several jobs. “Japan is well-placed to remain as the Philippines top trading partner,” he said. The president also discussed with Prime Minister Shinzo Abe how the two countries can further p ar t nership in var ious areas of economic, sociopolitical, security and defense cooperation. He said they agreed to strengthen ties between the two nations by harnessing their respective strengths and take advantage of them to further grow and continue playing a “rightful role in the region.” He also emphasized that the “economic cooperation remains a linchpin between the two nations and encouraged the Japanese businessmen to pour in investments in the Philippines.“ “As I sought greater government partnership t o c re at e a n e n a b l i n g e nv i r o n m e nt f o r b o t h our businesses to thrive, I encouraged private businesses in Japan to invest in the Philippines,” he said. Agriculture Secretary Manny Piñol announced that he signed with a Japanese firm, Farmind Corp., a deal for an annual delivery of 20 million boxes of Cavendish bananas worth P5 billion from the Philippines. This would generate about 14,000 farm jobs, he said, as the project will involve developing about 7,000
hectares of banana farms, directly employing former rebels in the conflict areas in the Southern Philippines. “ The Farmind C orp. project is really aimed at providing livelihood oppor tunities for rebel returnees and beneficiaries of the agrarian reform program,” he said.
DTI... from page 2
a receipt to protect you in case you bought defective or substandard goods and products,” Abang said. In Bukidnon, consumers could report or file complaints through DTI-Bukidnon hotline numbers (088)8132101, 09273381291 and 09292138476. Ab a n g , h o w e v e r, encouraged consumers to complain directly in the customer service counters or consumer welfare desks of the stores where the purchase was made for faster and easier action. E r i b e r t o Ta b a n - u d Jr., Trade and Industr y Development Specialist of DTI’s consumer welfare division, meanwhile, said that it is the consumers’ responsibility to be alert and nosy about the quality and price of goods bought and services availed in order to ensure that we get a fair deal. “As long as we remain ‘passive consumers,’ we c ont i nu e to b e a lw ay s exploited,” he said. (RLRB/ PIA 10-Bukidnon)
Tourism... from page 2
may anticipate that coming along with boosted tourism are more jobs and incomegenerating opportunities for the residents living near Mt. Torong-Torong. (PIO-PLDN)
Growth... from page 3
Officer, said. Power unit Aboitiz Power Corporation (AboitizPower) ended the first nine months of the year with income contribution to AEV of P11.6 billion, registering a 24% increase w hen compared to the previous year’s P9.4 billion. On a stand-alone basis, AboitizPower’s bottomline year-to-date (YTD) increased 24% YoY, from P12.2 billion to P15.1 billion. Adjusting for non-core items, the company’s core net income for the first nine months of 2016 amounted to P15.2 billion, up by 17% YoY. The generation business a c c ou nt e d f or 8 0 % of earnings contributions from AboitizPower’s business segments, recording an income share of P12 billion for the first nine months of 2016, up 26% YoY. The growth was largely driven by Therma South’s new contribution.
Netting-out one-off items, the income contribution of AboitizPower’s generation business amounted to P12.5 billion for the period, which was 20% higher than last year. The power distribution group’s earnings share for the first nine months of 2016 increased by 11%, from P2.6 billion to P2.9 billion. Total attributable electricity sales increased by 8% YoY, from 3,546 gigawatt-hours (GWh) to 3,818 GWh. Banking and financial services Un i o n B a n k o f t h e Philippines (UnionBank) and its subsidiaries posted P4 billion in income contribution to AEV in the first nine months of 2016, registering a 178% increase compared to previous year’s P1.4 billion. On a stand-alone basis, UnionBank and its subsidiaries posted P8.2 billion in net income during the first nine months of 2016, more than double the earnings posted for the same period a year ago of P3 billion. The surge in net income is primarily attributed to the robust growth in net interest income and fees coupled with the profits from the sale of securities. Food AEV’s non-listed food subsidiaries, Pilmico Foods Corporation, Pilmico Animal Nutrition Corporation, and Pilmico International Pte Limited posted P1.4-billion income contribution to AEV for the first nine months of the year, slipping by 1% compared to the previous year. Feeds Philippines was the sole gainer across all divisions. Feeds Philippines’ bottomline increased by 18% to P675 million on the back of higher volume and lower raw material prices. Flour, Feeds Vietnam, and Farms all reported a drop in net income contributions mainly driven by lower prevailing selling prices. Land AEV’s land subsidiary, A b o i t i z L a n d , I n c .’s ( Ab o i t i z L a n d ) i n c o m e contribution to AEV as of end September 2016 decreased by 40% YoY to P149 million from last year’s P249 million. The 40% decline in net income was mainly due to the increase in operating expenses as the company continued to grow its team to become a national real estate player. Infrastructure AEV’s infrastructure unit, Republic Cement and Building Materials, Inc. (RCBM) posted an income contribution to AEV of P1.3 billion for the period in review. It started contributing mid-September last year. The RCBM investment performed well in the first nine months of the year, on the back of steady demand.
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monday|october 31, 2016