BusinessWeek Mindanao (October 5, 2016) by Mindanao Daily News

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 053

Market Indicators

As of 6:21 pm october 4, 2016 (tuesday)

FOREX

PHISIX

US$1 = P48.249

7,719.24

5.2

X X Briefly

cents

41.51 points

Farm harvests down THE dry spell brought about by the recently ended El Niño phenomenon caused the agricultural production in Northern Mindanao to decline in the second quarter of the year, the National Economic and Development Authority (NEDA) reported. For palay production alone, output fell by 19.7 percent to only 99,644 metric tons (MT) from 124,068 MT in the same quarter in 2015. Decreases in production were noted in four out of the five provinces in the region due to inadequate irrigation water and rainfall. Engr. Cecilio Clarete, chief economic development specialist of NEDA-X, said some rainfed areas were also damaged during the vegetative stage and no plantings were made in upland areas due to dry spell.

Unusual oil price drop THE Department of Energy (DOE) is asking the oil players in Mindanao to explain the unusual price reductions in gasoline products that may be breaching provisions under the existing law. Based on the monitoring of the DOE-Mindanao Field Office (MFO), the price adjustment of the oil companies in Mindanao from the period of 30 August to 6 September 2016 was a huge PhP3.00 rollback, hence attracting the attention of the agency. While price rollbacks like this are a welcome development for the consumers, the DOE cautioned that sudden and sustained huge decreases in oil prices might qualify as an “anti-competitive behavior” under the Oil Deregulation Law.

Sports tourism THE Department of Tourism (DOT) is doubling its efforts to promote the country as a sports tourism hub. Tourism Secretary Wanda Teo said “The Philippines has a huge potential to become one of the world’s great adventure travel destinations. With our country’s natural attractions and the Filipinos’ love for sports, we certainly have the competitive edge to make it big in this fast growing niche market of sports tourism.” The tourism chief made this statement following DOT’s participation in the United Nations World Tourism Organization (UNWTO) Conference on Tourism and Sports that was held in Da Nang, Viet Nam last 23 September 2016.

YOUR Mindanao-wide BUSINESS paper

RELIABLE

IN-DEPTH

P15.00

Mindanao coffee needs quality upgrading: NGO www.businessweekmindanao.com

Wednesday | October 5, 2016

By ANTONIO L. COLINA IV, MindaNews

AVAO City – Coffee grown in Mindanao can compete with the specialty products of other coffee-producing countries if its quality is improved, an official of a nongovernment organization (NGO) said. Speaking in Monday’s K a p e h a n s a D a b a w, Thelonious S. Trimmel, chief of party of the Agricultural

Cooperative Development International-Volunteers in Overseas Cooperative coffee/PAGE 11

Oro gov’t to embark on massive road expansion By MARK D. FRANCISCO, Staff Writer

THE CAGAYAN de Oro city government is embarking on a massive road network expansion to decongest the worsening traffic situation in the city.

Speaking during a business forum catering to uptown C agayan de O ro st a kehol d e rs , c it y investments and promotions expansion/PAGE 11

SEA-JACKING EXERCISE. Joint operatives from Philippine Coast Guard, Armed Forces of the Philippines, Philippine Navy, Philippine National Police, Bureau of Fire Protection, along with medical units and other port stakeholders led by the Philippine Ports Authority, jointly participated in a Sea-Jacking Exercise at the Macajalar Bay, off the Port of Cagayan de Oro City which highlighted the National Maritime Week celebration last week. PHOTO by GERRY LEE GORIT

Tax take in Normin up by 27% in 2Q By APIPA BAGUMBARAN, Contributor

FREE BP TEST FOR ELDERLY. A senior citizen gets free blood pressure test from a Department of Health (DOH) phlebotomist during the Elderly Week celebration held Saturday at SM City Cagayan de Oro. PHOTO BY MARK FRANCISCO

THE intensified tax collection efforts in Northern Mindanao continue to pay off as the region again posted increase in collections during the second quarter of 2016. Engr. Cecilio Clarete, chief economic development s p e c i a l i s t o f Nat i o n a l Economic and Development Authority (NEDA) in Region

10, said in a media forum that the tax bureau collected P3.43 billion during the quarter, up by 27 percent from the P2.70 billion collections made in the same quarter in 2015. Citing figures from the Bureau of Internal Revenue (BIR), Clarete said the growth was broad-based with receipts from Value Added Tax (VAT)

and Other Taxes posting higher than average growth rates at 45 percent and 52 percent, respectively. Such trend, he said, reflects the good health of the business community in the region. In terms of share, collections from income taxes accounted for the largest share with P2.14 billion or 62 normin/PAGE 11

Environment bureau seeks mandatory emission monitoring, carbon sinks for environmentally critical projects By MIKE BAÑOS, Editor-at-Large

THE Environment Management Bureau in Region 10 (EMB-10) believes the mandatory monitoring of all emissions and the provision of carbon sinks from environmentally

critical projects will enable the Philippines to pursue industrialization without affecting global warming and climate change. “We’ve successf u l ly piloted a total solution with

EMB-10’s partnership with STEAG State Power, Inc. (SPI), the first coal-fired power plant in Mindanao,” Dr. Sabdullah C. Abubacar, EMB-10 regional director said. “This is the missing link that can reconcile President project/PAGE 8

Main Store

Prawn House Suites and Restaurant Regatta Square, Pueblo de Oro, Cagayan de Oro City --Contact nos. 0915-959-4837 (Mobile) & 851-9014 (Landline)--

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

Economy

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

team up to spur NGCP intensifies transmission Exec-legis progress, devt in CdeO line safety advocacy in schools

By ELAINE O. RATUNIL, Contributor

HE National Grid C o r p o r at i o n o f t h e P h i l i p pi n e s (NGCP) has encouraged school pupils, teachers and parents to help secure the transmission lines to avoid se vere damages t h at m a y r e s u l t i n t o power interruptions. Parents were reminded during the turnover ceremony of tablets and LCD projectors held at the G.L. Reyes-Anhawon E l e m e nt ar y S ch o ol i n C a g ay a n d e O ro, a n d Sta. Ana Elementar y School, Tagoloan town, Misamis Oriental, Sept. 30 to strictly not allow children to f ly kites near transmission l i n e s or t o c l i mb any transmission structures to prevent accidents and electrocution.

Planting of trees under transmission lines, towers and right-of-way (ROW) clearances is prohibited, according to NGCP. NGCP Safety Officer Manu el B. B as s ai d it is one the causes of frequent power tripping or brownouts. S e vera l cases of these have been reported in some areas of Lanao del Norte and Western Mindanao. Bas said NGCP lines carry very high voltage power. Thus, violations of their safety regulations affect their operations. The public must be aware that observance of NGCP’s safety regulations would prevent cases of electrocution, accidents, and power trippings. Residents living near or along NGCP transmission

lines have to cooperate by not planting trees near towe rs and el e c t r i c it y posts to lessen and eliminate, transmission line-related accidents. For his part, NGCP Line Engineer Christopher D. Corpuz reminded that any kind of structures, T V and radio antenna, kite-flying games, grass fires, along and under its transmission lines, towers, and substations, should never be allowed. NGCP, the operator of the countr y’s power transmission network, conducts regularly a n i n f o r m at i o n d r i v e on transmission line safety regulations to avoid accidents and electrocution and other untoward incidents, said Mae Roselle L. Curiano, NGCP regional corporate communications and

public affairs officer. Fu r t h e r, t h e NG C P has advised the public to be cautious whenever passing through the structures while carrying long stick logs that may contact with the power lines. Meanwhile, Aprilou Ag aw i n pre s e nte d t he grave impact of line pilferage on power transmission operations. Users and consumers must report any incident of leaning and damaged poles of towers and sagging power lines and identify poles or tower number for NGCP’s immediate action, NG C P re pre s e nt at ive s said. (EOR/PIA10)

THE partnership between the Cagayan de Oro City executive and legislative departments in providing e f f e c t i v e a n d e f f i c i e nt public ser vice to the c it y ’s c onst itu e nt s w a s s t re n g t h e n e d w it h t h e holding of the Executive Legislative Agenda (ELA) drafting held recently. Majority floor leader Councilor Ian Mark Nacaya said there was an open mind discussion between the executive branch and the City Council headed by Vice Mayor Raineir Joaquin Uy on development programs of the city for the next three years. During the Ang Konseho Program aired over a local radio station, councilor Nacaya, with Councilors Su z e tte Mag t aj a s - D ab a

and Jay R. Pascual said the partnership between the executive and legislative departments was evident and encouraging. “Nakita nato ang teamwork nga gihimo nato karon (We have seen the teamwork we are doing),” said Nacaya, citing that even before the activity, the minority bloc has been supportive of the direction of the city government towards development. The City Council is not focused on politics but on ways to introduce changes and development in Cagayan de Oro, Nacaya added. He s aid legislators are committed to enact legislations that will make people’s lives better. Nacaya also said this progress/PAGE 11

RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide

A "Walk for Life" is spearheaded by DOH,PHIC on 1 October as SM Cagayan de Oro City to honor elderly Filipinos while the entire country observes the “Elderly Filipino Week’ every first week of October with the theme “Pagmamahal at Respecto ng Nakababata, Nagpapaligaya sa Nakatatanda.” (RDM, PIA 10)

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 Vista Land buys back $65-M in notes Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

I S TA L A N D & Lifescapes, Inc. is buying back $65.24 million worth of notes from the debt programs of a subsidiary incorporated in Cayman Islands. In a disclosure to the Philippine Stock Exchange on Thursday, the property developer owned by billionaire Manuel B. Villar announced the purchase

of the notes issued by VLL International, Inc. VLL International will purchase $54.54 million under its $1-billion mediumterm note program and another $10.70 million under its $100-million 6.75% notes due 2018. “The notes so purchased will be cancelled in accordance with the terms and conditions of the notes,”

the company noted. As a result, VLL International will have $370.46 million left from the medium term note program and $51.82 million outstanding 6.75% notes due 2018. The notes are guaranteed by Vista Land subsidiaries Brittany Corp., Camella Homes, Inc., Crown Asia Properties, Inc., Communities

Philippines, Inc., Manuela Corp., Masterpiece Asia properties, Inc., Starmalls, Inc. and Vista Residences, Inc. The listed homebuilder also made a tender offer for $450 million worth of guaranteed notes due 2018 and 2019 through VLL International in June 2015. The offer covered $350 million in 7.45% guaranteed

notes due 2019 and $100 million in 6.75% guaranteed notes due 2018. Alongside the notes, Vista Land is buying back shares issued on the local bourse in the amount of P1.50 billion. On Thursday, the company purchased 231,903,400 shares for about P1.32 billion and placed them in treasury, according to a separate disclosure made on Friday.

Following the transactions, Vista Land has 12,882,232,976 common shares, 2.50 billion homebuilder bonds and 5 billion retail bonds. In the six months to June, the company reported an 11% year-on-year increase in net income to P3.9 billion from P3.5 billion. It registered a 9% improvement in revenues, to P15.7 billion from P14.5 billion.

THE National Grid Corporation of the Phi lippines (NGCP) is being urged by an industry association to include a budget for “unforeseen transmission upgrades” in its proposed five-year capital expenditure plan to be submitted to Energy Regulator y Commission (ERC) next year. “The biggest issue in the industry is [the absence of ] transmission lines for new power plants,” said Luis

Miguel O. Aboitiz, a member of the board of trustees of Philippine Independent Power Producers Association, Inc. (PIPPA), on the sidelines of a Senate discussion on energy generation, transmission an distribution issues. He said a problem arises when NGCP’s five-year capital expenditure plan is approved by the ERC but a new plant starts construction during the budget period without a corresponding upgrade in ngcp/PAGE 11

ABOITIZ Power Corporation (AboitizPower), through its subsidiary Therma Power Inc. (TPI), announced Thursday its proposed acquisition of indirect partnership interests held by funds managed by Blackstone (NYSE: BX) in GNPower Mariveles Coal Plant Ltd. Co. (GMCP) and GNPower Dinginin Ltd. Co. (GNPD). The transaction includes a “66.1 beneficial ownership interest in 604-megawatt

GNPower – Mariveles and 40 percent beneficial ownership in 2×668 MW GNPower – Dinginin.” “The proposed acquisition of the indirect effective interests in GMCP and GNPD is in line with our target to increase our attributable net sellable capacity to 4,000 MW by 2020,” said AboitizPower CEO Erramon I. Aboitiz. The completion of the deal is subject to the approval of the Philippine Competition

Commission and the Board of Investments. GMCP is a 604-MW subcritical coal-fired power plant, which started operations in 2014, while GNPD is a new project consisting of 2 x 668-MW supercritical coal-fired power plant, located in Bataan. The first of the GNPD units is currently under construction and is targeting commercial operations in 2019. “ We c o n s i d e r t h i s

acquisition very strategic as it gives us immediate earnings from the operating asset and incremental capacity in the coming years from the plant under construction and its expansion. We are likewise looking forward to the completion of our pipeline projects, which include more baseload capacity as well as renewables,” Aboitiz said. Aboitiz Power was among the bidders for Sithe’s sale stakes/PAGE 11

NGCP urged to allot for transmission upgrades

AboitizPower seeks to acquire stakes in Bataan power plants

For more information or reservations, you may call us at +63(88) 880 0000. Stay updated with our latest promos by following us on our Facebook Account (Limketkai Luxe Cdo) FB Page (Limketkai Luxe Hotel), Twitter & Instagram (@ Limketkai_Luxe).

Opinion

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

Deutsche Bank on the brink?

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

Vice President for Administration

joe palabao

Vice President for Marketing

NELSON CONSTANTINO Editor-in-Chief

Cheng ordoñez

gilbert y. chao

Executive Editor

Motoring Editor JOEL ESCOL

BONG FABE

Feature Editor

Associate Editor

CLIFFORD SANTILLAN Layout Artist

JUN AYENSA

sandra encoy

Regional Editor Caraga

Advertising

ATTY. MARIO T. JUNI

Cris diaz mike baños Uriel quilinguing Contributing Editors

Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO Legal Counsel

MARKETING staff manila office: Unit 310 Valero Plaza, Valero Street, Salcedo Village, Makati City; lani vallido-Marketing Manager ARJAY FELICILDA Marketing Staff - CDO

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463826-272-000 – VAT. Reg., and with Business Permit No. 201512879. Tel. Nos.: (088)8578447, 74-5380, 0923-432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com

Member: Philippine Press Institute

of about 10 EURO ($11.2). That corresponds to a market capitalization of slightly over 14 billion euros, placing Deutsche in 78th place on the global rankings, nestled somewhere between banks from Malaysia and Brazil. The bank’s stock recently got kicked out from the Eurostoxx 50 index of the biggest European companies due to its lack of value. Deutsche Bank today is a bargain for investors. However, hardly anyone wants to buy its shares, as it has over 1.7 trillion EURO worth of assets under management. In Boehme’s opinion it’s indeed scary to imagine what would happen should the bank collapse. A new global financial crisis could erupt. That’s because Deutsche Bank is a major player in the global financial system and is considered by the International Monetary Fund and other organizations as a systemically important institution, meaning it’s too big to fail. Should the bank therefore collapse, it could in all likelihood pull down the whole house of cards along with it. In this context, where should investors take confidence from and invest in the bank? There is a disastrous US demand: the bank has yet to settle all the legal

troubles arising from its past actions. There are still the unexplained moneylaundering charges against the bank’s Russian arm. And the bank could be fined billions of dollars as a result. Furthermore, there is the 14-billion-dollar settlement with the US Department of Justice for malpractices committed in the years leading up to the financial crisis. I t ’s n o w o p e n t o speculation whether this $14 billion penalty is merely retaliation for the EU’s decision to order Apple to pay roughly the same amount in back taxes. (This speculation is most likely nonsense, says commentator Boehme!). Nevertheless, it shouldn’t be rejected out of hand. It was the Americans after all who once let their mortgage market inflate to gigantic levels. They then elegantly packaged the risks and parked them in foreign banks. Now comes the US watchdog to cash up, and both domestic and foreign banks have to pay. Shall German taxpayers pick the tab? Moreover, it would not be worth it at all as it’s unclear as to who will actually want to buy the bank’s shares. Buying them would be nothing more than a gamble. Against this backdrop, the

H ave M y Say

Klaus Doring

talk of state aid for the bank suddenly resurfaced. Soon afterwards, both the bank and the German government tried to dismiss the talk by labeling it as pure speculation. However, it’s not as simple: surely, the bank can dispose off its investment banking division. There would also be some things to pick up. But one thing is certain: Shou ld D euts che B an k actually run into trouble, then one can safely assume t h at t h e t a x p aye r w i l l ultimately have to step in to save it. That’s despite the promise of governments worldwide - including that of Chancellor Angela Merkel - that taxpayers will never again have to save a bank. +++ Email: doringklaus@gmail. com or follow me in Facebook or Twitter or visit www.germanexpatinthephilippines. blogspot.com.

Senators are near turning berserk

Oro Chamber

How to Live Right with a Wrong Husband Think a minute…A famous woman once said: “All marriages are happy, it’s living together afterwards that’s the problem!” Have you ever felt like you could be a great, loving wife—if you had the right kind of husband? Well, if you’re the wife who has the wrong kind of husband, then these 4 reminders are just for you. Number 1 is our actions and behavior. It doesn’t matter how difficult your husband is to live with, he’s still not blind! He can’t ignore the way you behave—whether you’re good to him and treat him with respect or not. Don’t let him fool you, he’s watching the way you act and behave! Numb er 2 is our appearance: how we look. Of course, we need to be pure and loving in our heart, but don’t stop when you get to the outside! We need to care about how we look for our husband. So if at home you and I are looking like a messy, unmade bed all day, what husband wants to come home to that? So do all you can to look good—whether it’s your clothes, makeup, exercise or diet. Even an old shed looks better with new paint on it! Number 3 is our attitude. Do you have a gentle, quiet

The banking district of Frankfurt remains engulfed in crisis. If it continues like this, then German taxpayers might soon be called on to step in to save Germany’s biggest bank, says German TV-commentator Henrik Boehme. Wow. Let’s have a look back: “I would be ashamed if we were to accept government money in this crisis,” said Josef Ackermann, the former CEO of Deutsche Bank, in October 2008 when the world was gripped by panic over the global financial crisis. Today we know that the bank did not need any state help at the time. It wasn’t necessary as Deutsche was then making a decent chunk of money by indulging in massive tricks. As a consequence, the bank is currently facing around 7,800 (!) lega l challenges across the world. The financial cost of settling all of them, including fines, is expected to run into billions. The bank has had to set aside this money, which could have been used to bolster the balance sheet of Germany’s only financial institution with global reach. Deutsche Bank’s global reputation and value have taken a hit in recent years. Its share price has lost as much as 90 percent of its value since 2009 and is currently languishing at an all time low

THINK

A Minute

Jhan Tiafau Hurst strength? You might say: “Wait a minute. I’m not that weak, submissive wimp type!” Friend, I’m not talking about being weak; I’m talking about our attitude of inner strength and self-control that still shows respect for our husband. Remember, you and I can fix our faces up in 2 minutes, but our right attitude takes a lifetime to build! And number 4 is the way you and I take care of our husband’s needs. Or are we too busy running here and there for other people, taking care of everyone else except our own husband? Friend, if we do all these things that are right in our marriage, then God will bless and reward us. But you and I must trust Godto change hurst/PAGE 11

LIFE’S INSPIRATIONS: “… Blessed are those whose ways are blameless, who w a l k a c c o rd i n g t o t h e law of the LORD. Blessed are those who keep his statutes and seek him with all their heart---they do no wrong but follow his ways…” (Psalm 119:1-3, the Holy Bible). -ooo SENATORS ARE NEAR TURNING BERSERK: Our own senators seem to be nearing the point where, like legislators from other countries who engage in brawls every time they are unable to agree on certain points, they, too, are about ready to go berserk, and gang up on one another, no longer verbally, no longer through the power of their arguments, but by exchange of physical blows as well, on account of disagreements. The hearing by the Senate Committee on Justice on Monday, October 03, 2016, s h owe d t h i s i n e v it abl e tipping point, as it were, i n t he b ehav i or of ou r senators, towards rudeness, godlessness, disrespect, and impoliteness, conduct which are ordinarily exhibited only by those who occupy the lowest, thus most bestial, positions in any given society. Why is this happening? There are many reasons of course, but what the lawmakers showed last Monday night indicated that, either they w e r e n o t t au g ht g o o d

manners and right conduct by their parents or by their school teachers, or that their priests and pastors failed to instill in them spir itu a l v ir tues w hich their religions are supposed to have given them. -ooo SE NATOR S NO LONGER CARE FOR PUBLIC INTEREST: Or, perhaps, what these lawmakers did last Monday indicated something more sinister---that, they were willing to brazen it out with one another, in full view of the Filipino nation yet courtesy of national radio and T V, simply because they were in a mad scramble to push or espouse their own personal or political interests, unmindful of what really mattered to our country and our people. I am saying that this last probable reason for their unruly behavior was truly sinister because, as high officials of government, as legislators who were elected by the people and who took their respective oaths to uphold national interest and defend the C onstitution of the Republic of the Philippines, t he y we re supp o s e d to b e a c t i ng on ly for t h e benefit of the people. Unfortunately, Monday’s session showed that the S e n at e i s n ow d i v i d e d shar ply not on w hat is good for the people, but b etwe en t hos e w ho are

opposed to the government of President Duterte and those who are in full support of his policies. Our senators have been re duce d to b e i ng me re rabid partisans, whose only care and concern was the interest of their principal, where that principal was not even the Filipino people. -ooo L AW M A K E R S A S CLOWNS AND LUNATICS: Indeed, Senate and House of Representatives he ar ings are no longer occasions to find out how legislation could be arrived at to remedy defects or imperfections in gover nment p olicies or procedures. They have b e c om e m e re h e ar i ng s in aid of re-election as many have been pointing out, or hearings to embarrass, humiliate, or vex targeted personalities. What is worse is that, the prot agon ist s w ho w ant to hug the microphone all to themselves could not even talk in perfect English or even in perfect Filipino. Then, most of the time, their thoughts are so hopelessly and shamelessly incoherent and jumbled t hat, e ven if t he y have already been speaking for a long time, the listening or viewing public still find it i mp o ss ibl e to f i g u re what they have been tr ying to say. What did t he F i l ipi no p e opl e d o

K ak ampi

Mo A ng Batas

Atty. Batas Mauricio to deser ve these clowns and their lo ony antics? True, a nation deserve the le aders t hat t he y ele c t. If we have senators and congressmen who behave like they are entitled to waste the p eople’s time and resources, it must only be because they think that those who voted them were stupid enough in the first place not to realize that politicians in this country, whether they be of the red or yellow varieties, are mere clowns and truly lunatic. -ooo PLEASE WAT CH OR LISTEN: “Tambalang Batas at S o m i nt a c” , a n e w s commentary radio program, aired at DZEC 1062 kHz and other Radyo Agila provincial stations nationwide, and is aired live by Facebook at https://www.facebook.com/ RadyoAgila1062/?fref=ts, 6 to 7 in the mor ning, Philippine time. Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

Banking&Finance

WB retains growth forecast for PH at 6.4%

HE World Bank has retained its gross domestic product (GDP) growth forecast for the Philippines at 6.4 percent in 2016 and at 6.2 percent in 2017 and 2018.

It was the same projection that the World Bank released in its Philippine Economic Update in April. During the launch of the same report released on Monday, World Bank

L e ad E conomist Birg it Hansl said robust domestic consumption and public expenditure will support the growth for this year and the next two years. She added that the strong

d ome st i c c onsu mpt i on is backed by increase in remittances and low inflation rate. The new administration’s initiative to further increase government spending signals

continued significant cont r ibut i on of publi c expenditure to GDP. “We see a very positive outlook for the Philippines in the next two years,” said Hansl.

She, however, noted that if the new administration can hasten implementation of public infrastructure projects, growth projection for the next two years can be exceeded.

DOF vows to improve PH’s WEF ranking Bank lending continues THE Department of Finance (DOF) vowed to reverse the sharp decline in the Philippines’ ranking in the World Economic For u m’s ( W E F ) g l ob a l competitiveness. In a statement, Finance Secretary Carlos G. Dominguez III said the new administration aims not only to combat generational poverty but also to sustain high growth and sharpen the country’s global competitiveness to

entice more investors. This is why the new government has jumpstarted over the past three months, said Dominguez, a vast array of initiatives to improve the ease of doing business in the country. “The new government has given top priority to sharpening the Philippines’ global competitiveness, precisely to improve the ease of doing business here and turn our country into a magnet for investments

on the Duterte watch,” Dominguez said. Finance Undersecretary Gil S. Beltran noted that the Philippines slipped in the WEF competitiveness index partly as a result of its low ranking in infrastructure, which incurred a massive backlog during the Aquino administration. B eltran also pointed out that this year’s WEF assessment for its global competitiveness list was conducted prior to the May

2016 elections or long before President Duterte took over following his landslide victory at the polls. “The increased spending in infrastructure, which will account for five percent of [gross domestic product] GDP under the Duterte presidency, will be a significant factor in boosting the country’s ranking in the WEF index,” Beltran said. Dominguez and Beltran were reacting to the sharp fall in the Philippines’ ranking from No. 47 in 2015 to No. 57 this year in the WEF’s Global Competitiveness Report, an annual assessment of factors affecting productivity and growth in 138 countries. In this y e a r ’s competitiveness report, WEF said the Top 5 most problematic factors for doing business in the Philippines have to do with the inefficient bureaucracy, inadequate supply of infrastructure, corruption, tax rates, and tax regulations. improve/PAGE 11

to grow in August

OUTSTANDING loans of commercial banks, net of reverse repurchase (RRP) placements with the BSP, grew by 17.3 percent in August from 17.7 percent in July, the central bank reported Friday. Likewise, bank lending inclusive of RRPs increased by 15.9 percent from 16.0 percent in the previous month. On a month-on-month seasonallyadjusted basis, commercial bank lending for loans net of RRPs and loans inclusive of RRPs increased by 1.2 percent and 1.3 percent, respectively, said the Bangko Sentral ng Pilipinas. Loans for production activities—which comprised more than 80 percent of b a n k s’ a g g r e g at e l o a n portfolio— grew by 17.3 percent in August from 17.4 percent in July. The expansion in production loans was driven primarily by increased lending to the following sectors: real estate activities (19.5 percent);

electricity, gas, steam and airconditioning supply (30.9 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (15.9 percent); financial and insurance activities (15.3 percent); information and communication (43.2 percent); and, manufacturing (7.7 percent). Bank lending to other sectors likewise expanded during the month, except for mining and quarrying (-1.0 percent); water supply, sewerage, waste management and remediation activities (-0.6 percent); and, public administration and defense, compulsory social security (-5.0 percent). Loans for household consumption rose by 20.3 percent in August from 20.6 percent in July due to the sustained growth in salarybased general-purpose loans, credit card loans, and motor vehicle loans, which offset lending/PAGE 11

Billboard

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

Republic Cement, TESDA training program produce new welders for industry T he Republic Cement Group, a leading cement and building materials manufacturer and construction solutions provider, continues the success of its community development initiatives as 147 graduates of its Iligan Plant’s skills training program recently received National Certificates II (NC II) in Shielded and Arc Welding from the Technical Education and Skills Development Authority (TESDA). “Republic Cement is firmly committed to the development of our

host communities, including providing relevant skills training that can translate into employment opportunities both here and abroad,” said Renato Sunico, president of Republic Cement and Building Materials, Inc. (RCBM). The newly certified welders represent the second batch of trainees under the program, which has since produced over 200 graduates. The project mostly benefits indigent and unemployed members from its two neighboring communities, Barangays Kiwalan and Acmac in Iligan

City. Under the program, which is implemented in partnership with TESDA and the Barangay Councils of Kiwalan and Acmac, scholars undergo a total of 324 hours of intensive training in order to receive a certificate. NC II is part of TESDA’s Technical Vocational Education Training (TVET) Qualification and Certification System, which validates that its program graduates are equipped with the technical aptitude in all relevant competency requirements and

standards prescribed by the industry. Apart from offering livelihood opportunities, the program promotes equal opportunity and gender diversity, having trained over 20 women in the Shielded and Arc Welding course, a traditionally male-associated profession. Sunico further notes that the partnership with TESDA is part of the company’s capability-building efforts, helping to expand the local pool of skilled workers from which it can hire contractors for its expansion

requirements. He adds that most of the welding contractors currently servicing Republic Cement’s Iligan Plant are products of the skills training program. “This is one way

that Republic Cement builds shared value in our host communities,” shared Sunico. “Our skills training program is one way for us to contribute to the communities’ overall well-being.”

Manny Pacquiao’s Strength! Boxing has been part of the Filipino culture mainly because our very own Manny Pacquiao have won so many fights. Boxing is not an easy and simple sport. It requires power, stamina, endurance and energy. If it weren’t for Manny Pacquiao’s own hard work, he wouldn’t have won the fights right? Manny

seriously prepares for all his fights—he has an intense training with wild work outs that a normal person would find it difficult to cope with such routines! It was said that his routines include long runs and plyometrics. Fo r s p a r r i n g d ay s , h e would run 30 minutes on flat surface while for nonsparring days, he would run an hour uphill! His typical average routine consists of running, 8 rounds of shadow boxing, 1 5 rou n d s of sparring, 10 rounds of speed bag, 10 rounds of heav y bag, jump rope, ab crunches, knee ups, bi c ycl e work , l e g c r u nche s , side crunches, Russian twists and ladder drills. The

training alone requires super strength already, what more on fight nights? Manny Pacquiao is a professional trained boxer and he is used to endure so much pain but if you wish to be as strong as him get your extra energy with Robust Energy Capsule to sustain strength like Manny’s! Robust Energy Capsule contains the ENERBOOST formula that gives extra energy needed to cope with everyday living of different individuals with various lifestyles. The ENERBOOST formula contains properties which help boost energy, enhance endurance, i mprov e a l e r t n e s s an d alleviate stress without caffeine. This gives you energy boost without the “crashing effect” of caffeine namely palpitations, anxiety and lack of focus. Ilabas ang lakas! No more sleepiness on the road with Robust Energy Capsule! Robust Energy Capsule

is high content 100% Pure content of Taurine, Ginseng, Sodium Ascorbate, Vitamin B1, B6 and B12 that is made more effective than powdered ingredients. It is a product of extensive research and development that guarantees top quality and excellent promising health results which makes it absolutely different from other energy preparation. Robust Energy Capsule i s d e v e l o p e d b y AT C Healthcare International C orporation known for their supplements such as Robust, Robust Extreme, FatOut, Vita-E, BitterGo, LiverMarin and a lot more that provide care to all Filipinos. Note that, Robust Energy Capsule is not a medicinal drug and should not be used to treat the symptoms of any disease. Robust Energy C apsu le is SRP P15.00 per piece, available at all Mercury Drug and other leading dr ugstores and supermarkets nationwide!

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

Dodu Abrio & the Viajeros headlines Playing for Change 2016 Story by MARK FRANCISCO

AGAIN, Dodu Abrio & t he Viajeros leads t he a nnua l globa l movement Play ing for Cha nge Day Cagaya n de Oro Yea r 4. This year's t heme "Ca l l for Peace & Rapid Cha nge t hrough Music" made a success last September 24, 2016 held at Centrio Aya la Ga rden. Dodu Abrio as t he ma in orga nizer of t he event was ver y gratef u l for hav ing PFC CDO Year 4. Specia l t ha n k s to t he Rotar y Club of Sout h CdO, Centrio Aya la Ma l l CdO a nd to t he Cit y Tourism & Cu ltura l A f fa irs Of f ice as t he ma in par t ners. 10 loca l ba nds pa r ticipated t he cause.. This time, t hree places pa r ticipated a l l over t he Phi lippines, Sout h Cotabato, Pa ngasina n, a nd

Cagaya n de Oro Cit y. Play ing for Cha nge is a mu lt imedia music project, created by t he A merica n producer a nd sound eng ineer Ma rk Johnson w it h his Timeless Media Group, t hat seek s to inspire, connect, a nd bring peace to t he world t hrough music.

Play ing For Cha nge was born in 20 02 as a shared v ision bet ween co-founders, Mark Johnson, Raa n Wi l lia ms a nd W hit ney K roen ke, to hit t he streets of A merica w it h a mobi le recording studio a nd ca meras in search of inspirat ion a nd t he hear tbeat of t he people. Producers Johnson a nd Enzo

Buono traveled a round t he world to places including New Orlea ns, Barcelona, Sout h A f rica, India, Nepa l, t he Midd le East a nd Irela nd. Using mobi le recording equipment, t he duo recorded loca l musicia ns per forming t he sa me song, inter preted in t heir ow n st yle. A mong t he ar t ists par t icipat ing or open ly involved in t he project are Vusi Ma h lasela, Louis M h la nga, Cla rence Bek ker, Dav id Guido Pietroni, Ta l Ben Ari (Tu la), Bono, Keb ' Mo', Dav id Broza, Ma nu Chao, Gra ndpa El liot t, Keit h R ichards, Toots Hibber t f rom Toots & t he May ta ls, Taj Ma ha l a nd Stephen Marley. This resu lted in t he award-w inning docu mentar y A Cinemat ic Discover y of Street Musicia ns.

Dureza highlights role of the bigger peace table & the youth in the peace process Presidential Adviser on the Peace Process Jesus G. Dureza emphasized that while the government negotiates with the different revolutionary groups in the formal peace t ables, he st ress e d t he importance of engaging “the bigger peace table” where the Filipino people sit.   “We always say that we negotiate across the table with the rebel groups to find peace, but let us not forget that there is a bigger peace table out there. We want that bigger table to be part of the process so that everybody will have ownership of the outcomes,” Dureza said during yesterday’s Closing Ceremony of this year’s National Peace Consciousness Month at the Quezon Memorial Circle.   He a d d e d t h a t t h e government’s peace work right now must engage t h e p e op l e w it h m ore transparency and inclusivity so that “ever y Filipino supports the agreements that we will sign on their behalf.”   Dureza led the launch of two major initiatives that aim to promote a more inclusive and transparent peace process.   First is the partnership with the country’s premier university, the University of the Philippines (UP), and second is the new mobile application geared towards the millennial generation. Dureza signed a partnership with UP President Alfredo Pascual that commits UP to give technical support to the Office of the Presidential Adviser on the Peace Process (OPAPP) for the ongoing peace negotiations between

the government and the National Democratic Front (NDF), which will resume next week in Oslo, Norway.   The next round of talks will tackle the Comprehensive Agreement on Social and Economic Reforms (CASER), which is most commonly referred to as the ‘heart and s ou l of t he p e ace process’.  “UP will provide expertise to the table to bring consensus points in very contentious issues that we are going to tackle,” Dureza explained.    To re ach t he young people – the millennials – OPAPP launched the mobile application (app) called “PeaceBOC” or Peace

Everything for Kids! Get fabulous offers from your favorite brands at the KIDS SALE from October 1 to November 6, 2016. Do your early Christmas shopping while enjoying savings across a range of must-have SM Kids items! Hurry, head on to The SM Store now! Per DTI-FTEB SPD Permit No. 9204; Series of 2016

Buddies Organizing for Change, the first of its kind app created by a national government office.    The app, which sounds like the popular social networking site Facebook, gives updates on the government’s peace initiatives and includes youth-oriented features that seek to raise their awareness and engage them to actively support the government’s peace programs.   “The new generation has provided a new approach in communicating peace and this is very exciting because we get our inspiration from the young and the support they give us will help us get through this difficult work

we are undertaking together,” Dureza said.    The presidential peace adviser also led the ringing of the World Peace Bell together with Quezon City Mayor Herbert Bautista, National Youth Commission (NYC) chair Aiza Seguerra, cabinet members, officials from the armed forces and the police, national government agencies, inter nat iona l partners, and civil society organizations.   “It is not a signal of the closing of the month of peace, on the contrar y, it signals our continuing efforts for peace because peace work never ends – it is a work of a lifetime,” Dureza stressed.

RESORTS, HOTEL & RESTAURANTS DIRECTORIES

A PUBLIC SERVICE BY:

Algen’s Dive Resort (088) 3872015

Pryce Plaza Hotel 8583131 Fax: 726687

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

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

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

Seda Centrio Hotel 32288888 Southwinds Hotel 724803 / 8562036 Fax: 8562036 Stargate Dream Vacation Resort 8515003 / 8509999 The VIP Hotel 726080 / 8562505 Fax: 726441 RED PLANET 8800888/8801306 Travelers Pod 8518988 Uptown Condotel 8511800 Villa Paraiso Apartelle 3870419 Fax: 3870429 HONORARY MEMBERS: Dept. of Tourism 723696/726394 / 8564048 Fax: 723696 RESTAURANTS: Bigby’s Café 72-1071/857-5511/8575836 Fax: 711843 Café Laguna 8582999 Fax: 8567001 DM Villaruy Restaurant 733790 Golden Ajirang I 856-5271 Fax: 727876 Grand Caprice Restaurant 72-6955/856-2302 Fax: 72-4986 Kagay-anon Restaurant 728958 / 8563688 Fax: 8563843 / 729003 La Ilongga Restaurant 72-6183 / 857-3652 Fax: 72-4605 Missy Bon Bon 8566852 / 09228606442 Fax: 8566852 SLERS Ham & Café 8551438

Mapawa Natures Park 8584402 Fax: 725265

Thai Me Up 738424/3108424 Fax: 738424

Mallberry Suites 8541999 / 7249999 Fax: 8544999

Barkadahan Grill 8551234

Maxandrea Hotel 8572244/729943 Fax: 724090

La Tegola Cucina Italiana 8585959

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

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

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

CDO playwright to hold dance drama at Rodelsa THE National Commission for Culture and the Arts (NCCA) in partnership with Liceo de Cagayan University and Pasundayag Community Arts is implementing a project "Pagpasundayag sa Sinaunang Baybayin" which is a series of activities from a workshop facilitated by Emil Yap, expert on the Sinaunang Baybayin (The Ancient Filipino Writing, famously coined as Alibata. BaiBayin or Baybayi is a system or way of writing of our Filipino Ancestors. This started from the root word "Baybay or BaiBai" that means spelling or tracing. The Sinaunang Baybayin is not based on the Doctrina Christiana that was spread by our colonizers.); The show performance entitled: "Baybayin" (In english meaning: Shore) is a mélange of multiArt disciplines basing

everything from the research on Sinaunang Baybayin. It's a collaboration of work by local Kagay-anon Artists. From Oro Arts guild, Michael Bacol; From Next Moves, Arnie Jumao-as and Feliz Ugalde and their choreographer Roger Odron; From Dulaang Atenista current members, Jc Salon, Angelo Dabbay, Franz Lacson and Dandy Tan; Dulaang Atenista Almuni Alvin Adaza, Ethyl Malachico, Dr. Reynards Tan and Denise Mordeno Aguilar, who conceptualized this project and is also the current Artistic Director of Pasundayag Community Arts founded by Mozart A.T. Pastrano in 1997. The production soundscape design is by a Veteran Kagay-anon Musician, Drue Dahonpalay. The production is stage managed by Ritche Riveral of Race

Entertainment. The main mission of this project is "Exploring the past thru Sinaunang Baybayin and creating a future using it for performance." On Oct 7, 2016 at Rodelsa Hall. With the options of Matinee at 3PM and Gala at 8PM. Be prepared to be taken aback by the group's version of the Creation Story; The introduction of the 2 major Sinaunang Baybayin Script expressed in an ensemble performance; The individual identities of the artists involved and their body articulation of the Baybayin; The theatrical utterance of the games, contrasting difference between the children before and the generation of children today. So it's a show and a learning experience for the audience. A devised piece created for everyone. After all, culture is inclusive. PR

wednesday|october 5, 2016

Project... from page 1

Duterte’s aspiration for industrialization with DENR Sec. Lopez’s dream for Quality of Life.” Environmentally critical projects (ECP) emitting at least 750 metric tons (MT) of pollutants are required to install self-monitoring equipment but only for pollution levels. Abubacar persuaded SPI to link their system to the EMB10 office to enable the latter to keep an eye on its greenhouse gas emissions as well. EMB-10’s ‘total solution’ also requires all ECPs to plant, maintain and protect carbon sinks capable of absorbing all of its greenhouse gases. Abubacar presented the ‘compromise’ during the Sept. 30 episode of Talakayan sa PIA-10 co-hosted by the agency with Limketkai Luxe Hotel. S e l f - m on it or i ng for regulation and transparency EMB-10’s Air Quality Management System has been linked to two remote C ontinuous Emission Monitoring System (CEMS) stations of SPI’s 210MW coalfired power plant in Villanueva, Misamis Oriental since 2006. “This ensures the monitoring process is transparent, accountable and affordable,” Abubacar said. “DENR Central Office can check individual

projects and regional offices 24/7 to ensure compliance.” EMB-10 also asked SPI to plant a 1,200 hectare (ha.) “carbon sink” at Mapawa Industrial Forest in Malasag, Cagayan de Oro City to sequester the plant’s 600,000 MT of carbon emissions annually over the 25 year economic life of the project. Restoring balance in nature Besides addressing climate change mitigation through c a r b o n s e q u e s t r at i o n , livelihood and food security, the project also contributes to environmental stability, enhances biodiversity and provides potable water for three nearby barangays. Some 108 species of local and migratory birds have been identified within the project area. “We have the Southern Silvery Kingfisher,” said Dr. Cesar Nuevo, general manager of the Mapawa Industrial Forest. “This endemic bird draws bird watchers to Mapawa and helps make a vibrant niche in the local tourism industry. The sighting of the Philippine civet cat (known locally as melo) means that we have a favorable environment for wildlife.” Other rare birds spotted in the Mapawa carbon sink are the Red Bellied Pitta (Erythropitta erythrogaster) and Southern Philippines Dwarf Kingfisher (Ceyx mindanensis).

Making carbon sinks mandatory EMB Director Gilbert Gonzales recently inspected SPI as part of the nationwide benchmarking initiative to identify sound industrial practices on environmental protection and management. He is now mulling its adoption as a model for public-private partnership in reforestation projects across the country, and require all ECPs to plant carbon sinks in tandem with real time monitoring of greenhouse gas emissions. “Once ECP’s are mandated to maintain and protect their respective carbon sinks over the lifetime of their respective projects (usually 25 yrs.), they stand a better chance of sustainability,” Abubacar notes. In Region 10 alone, EMB10 lists 33 ECPs, including six coal-fired power plants with an aggregate capacity of 1,640 MW. The five new coal-fired power plants’ combined output of 1,430 MW spews some 10.5-million MT of carbon dioxide annually (2.7-million MT of which is carbon). As each hectare of trees absorbs 400 MT of carbon a year, the five plants would require the planting of new carbon sinks totaling 8,167 hectares over 25 years, making it a perfect vehicle for the National Greening Program.

Catering service owner gets 20-year maximum jail term for unpaid SSS contributions An owner of a catering s e r v i c e w a s c o nv i c t e d b y t h e R e g i o n a l Tr i a l C ou r t of Q u e z on C it y for failure to remit the monthly contributions of its employees to the Social Security System (SSS) in violation of Republic Act 8282 or Social Security Act of 1997. S S S A s s i s t a n t Vi c e President for Operations Legal Department Atty. Renato Jacinto S. Cuisia said the court has sentenced Henry Marcos, who owns Henr y Marcos Catering Services, to imprisonment of four years and two months as minimum to twenty years as maximum. Marcos was also liable to pay P1,358,573.24 in civil liabilities representing unpaid contributions of his 11 employees including penalties as of December 16, 2013. In accordance with provisions under the Social Security Law, a three percent penalty was imposed every month on the delinquency until fully paid. “We would like to remind employers that no matter how small or big their business is, they are required by law to register with SSS and report their employees. The law did not make any distinction as to how many employees a company should have before reporting it to SSS,” said Cuisia. According to the de cision, t he st ate-r un institution discovered the delinquent contributions

following the examination of records carried out by SSS Junior Specialist Nenita M. Pascual, who at the time served as an account officer under the SSS Novaliches Branch. Based on her assessment of the catering ser vice’s employment records, Pascual issued a billing letter indicating the company’s total SSS delinquency which was duly received on September 22, 2006. Despite several follow-ups and multiple opp or tunit ies g iven by SSS to settle the computed contribution delinquency, Marcos failed to comply with the company’s social security obligations. The pension fund then issued a demand letter to the company on April 19, 2007. “As much as possible, we want to avoid the tedious process of litigation and just settle the controversy outside the courts for speedy resolution for the benefit of the company’s workers. However, since Marcos did not cooperate, we do not have other recourse but to file a case in court,” said Cuisia. Marcos posted a cash bond to obtain his p r ov i s i o n a l l i b e r t y o n January 26, 2009. However, he jumped bail after his arraignment on April 16, 2009. The trial continued despite his absence. “We ask for assistance from the former employees sss/PAGE 11

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

2 DAYS TO GO!

48 EXHIBITORS:

1ST PHIL SCALE, A BROWN ENERGY, AC CHUN, ART REPUBLIC, BORDZ, CAPITAL INDUSTRIES, CESCO, CITY GOVERNMENT OF CAGAYAN DE ORO, CT CONCEPTS GOLD & SILVER CORP, DAILY LIFESTYLE, DA-‐10, DENKI ELECTRICAL CORP, DTI-‐10, DOST-‐10, DIRE HUSI, FAST LABORATORIES, FROST BITE, FUEGO TO GO, GIARDINI DEL SOLE, GAISANO INC, GLOBE TELECOME INC, HIGHLAND FRESH, IRENE FLORO, JAMAICAN, JB LEONARDO PHOTOGRAPHY, KARAMBUS GRILL, LICEO UNIVERSITY, LGU VILLANUEVA, MAGNUM COFFEE, MASSA ADS N PRINT, MCCROONS DELIGHT, MISA’S CAKESHOP, M INDA, M ORESCO, MSE, NATASHA, PARAS BEACH RESORT, PARASAT CABLE, PHIVIDEC, PILGRIM COLLEGE, PLDT SME, PRONATURAL, PROVINCE OF MISAMIS ORIENTAL, PUEBLO DE ORO, RURAL IMPROVEMENT CLUB, SOUTHERN SYNERGY, STARGATE D REAM VACATION, TSINOYS, TUSCANIA, URBAN LIFESTYLE

DAY 1 OCTOBER 7, 2016 (FRIDAY)

! !

! ! ! !

OPENING CEREMONY, 2PM, ACTIVITY CENTER ORO BEST OF TALENTS ¥ LICEO DE CAGAYAN UNIVERSITY ¥ PILGRIM CHRISTIAN COLLEGE EXHIBITS/FREEBIES/SAMPLING PRODUCT/ BUSINESS PRESENTATIONS ENTERTAINMENT / AVP PARALLEL EVENT: DOST FOOD TRAINING (BY INVITATION)

DAY 2 OCTOBER 8, 2016 (SATURDAY) !

! ! ! !

ORO BEST OF TALENTS: ¥ DOT 10 SINGING AMBASSADORS ¥ WORLD MUSIC: DHASSIG PERCUSSIONIST BAND LATTE ART COMPETITION EXHIBITS/FREEBIES/SAMPLING PRODUCT/ BUSINESS PRESENTATIONS ENTERTAINMENT / AVP

DAY 3 OCTOBER 9, 2016 (SUNDAY)

! !

! ! ! !

EUCHARISTIC CELEBRATION, 9AM, ACTIVITY CENTER ORO BEST OF TALENTS: ¥ WORLD MUSIC: DHASSIG PERCUSSIONIST BAND ¥ MAGIC SHOW: MR. REUBEN LARDIZABAL ¥ BAKING DEMO: MONSTER KITCHEN FLAIR BARTENDING COMPETITION: FILIPINO BARISTA INNOVATORS LAUNCHING OF 2017 MINBIZCON BACK TO BACK WITH 10TH ORO BEST EXPO RECOGNITION AND AWARDING EXHIBITS/FREEBIES/SAMPLING

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 â€˘ 0947-8935776

wednesday|october 5, 2016

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

wednesday|october 5, 2016

Coffee... from page 1

Assistance (ACDI-VOCA), s ai d t hat pro duc t iv it y, post-harvest handling and processing training of the coffee farmers must be improved so they can keep up in terms of quality with coffee from other countries. “We need to work on improving productivity and quality of coffee. They can compete in specialty arabica and fine robusta market,” he said. He added that local coffee can even compete with products from Brazil, Colombia, and even Ethiopia, known as “the birthplace of coffee”. Trimmel said ACDIVOCA, which is funded by the US Department of Agriculture, has been helping farmers in technology transfer to enable them to increase production and husbandry standards. He said ACDI-VOCA is implementing the four-year USDA-financed Mindanao Productivity in Agricultural C o m m e r c e a n d Tr a d e (MinPACT) project, which is designed “to increase the income of the 10,600 smallholder cacao, coconut, and coffee farm families in Southern and Western Mindanao.” But Department of Trade and Industry-Compostela Valley director Siegred Balleque added that the coffee farmers can ship their produce and set premium prices for their exports if they can maintain high standards on seed selection, nursery management, and good husbandry. “We should make sure that we have the best coffee and one of the best in the world,” he said. The official highlighted Mindanao’s competitive edge, supplying the country at least 65 percent of the 25,000 metric tons of the total production. “Since 65 percent of coffee in the Philippines comes from Mindanao, there’s no doubt that the coffee in Mindanao has really big prospects. That’s why, we have several interventions like the coffee summit,” he said. The coffee summit is slated on October 12-13 at the SMX Convention Center Davao, he said. He added the Regional Development Council 11 has included coffee as one of the priority industries in Davao Region in a bid to revive the industry. “We make sure that everyone across the value chain are quality conscious. We should do it properly and, of course, up to the packaging of the coffee products and finding markets,” he said. B u s i n e s s m a n P h i l ip Dizon, who is also member of the Philippine Coffee Board, said that the volcanic soil, proper farm management, and microclimate make coffee produced in Mindanao as one of the best coffees produce in the world. But D i z on s ai d t h e environment must b e

protected as it helps maintain the microclimate condition that is unique to areas within Mt. Apo. “If we grow the right coffee in the right environment, volcanic soil, technology, post harvest facility, planting materials, and improve the value chain… The bottomline is we are now becoming connected to all pollution spread all over the world creating climate change,” he said.

Expansion... from page 1

officer Eileen C. San Juan said these include: Opol-Canitoan Road, Canitoan-Bulua Road, Cagayan de Oro-Laguindingan highway, Iligan-Cagayan de Oro-Bukidnon lateral highway, Macabalan-Bonbon bridge, Balulang-Macasandig bridge, Mapawa-FS Catanico Road, Balubal-Pueblo Road and Lumbia-Pagatpat Road. Also in the pipeline are the following: JR Borja Extension Road, Puerto-Claveria bypass road, Puerto-Carmen Hill Diversion Road and a road connecting each to barangays Dansolihon and Tignapoloan, the most remote village in the city. Plans are also underway for a traffic plan within CM Recto Avenue and Osmeña St. as the six-storey SM CDO Premier opens in May 2017, Ms. San Juan reported. This, even as City Hall has yet to receive any advisory from the national government on its plan to use the former Lumbia airport. In August 2015, UN Habitat together with city government officials has drawn up an ambitious mixed use plan in developing the 80-hectare property but those plans were put on hold after the Supreme Court approved the legality of the Enhance Defense Cooperation Agreement (EDCA) between the Philippines and the United States in November that year. Lumbia airport was one of the facilities planned by the Armed Forces of the Philippines (AFP) to be used by United States military forces. But when Mr. Rodrigo D uter te to ok over t he presidency last July, he took a criticizing stand against EDCA. Momentarily, the Civil Aviation Authority of the Philippines (CAAP) which still owns the property temporarily used by the Philippine Air Force’s (PAF) 15th Strike Wing, is busy relocating the squatters living within the sprawling vicinity. Mayor Oscar S. Moreno has divided Cagayan de Oro’s expansion areas into five – the western urban development area, the urban area, the west uptown growth area, the eastern growth area and the eastern urban growth area. Cagayan de Oro has a native population of 675,950 persons but swells during the daytime and especially on weekends to more than a million as people from as far as Zamboanga del Norte and North Cotabato shop here, Mr. Moreno claimed. In 2015, the city has gained a total of P1.41 billion new investments.

Normin... from page 1

percent followed by VAT with P971 million or 28 percent. All revenue district offices (RDO) in the region also logged positive growths led by Gingoog RDO and Cagayan de Oro RDO with growth rates of 41 percent and 31 percent, respectively. Cagayan de Oro RDO remains the top collecting district which posted P2.07 billion collections or 61 percent of the total receipts while Bukidnon RDO collected P487 million (14%), Iligan RDO with P460 million (13%), Ozamiz RDO with P262 million (8%), and Gingoog RDO with P142 million (4%). Clarete said the positive p er for mance of BIR is attributed to its continuing surveillance on tax compliance of individuals and establishments as well as notification and closure of establishments violating tax laws under the Oplan Kandado drive.

NGCP... from page 3

the transmission facility. “So it has to go back to ERC and get approval,” said Mr. Aboitiz, who is also the executive vice-president and chief operating officer of Aboitiz Power Corp. “Normally, the generator puts the cash upfront and then receives repayment over six, seven years with no interest. The impact is that essentially about 30% to 40% of the cost of that line is actually absorbed by the generator... We’re not allowed to pass this on to customers.” Mr. Aboitiz said PIPPA i s s u g ge s t i ng t h at t h e NGCP include a budget for “unforseen transmission upgrade” in their five-year plan. Anne E. Macias, PIPPA managing director, said the organization was looking at several options and that it was working with NGCP for the proposed contingency mechanism. “We have hired a foreign consultant to examine the c u r re nt s y ste m and of course, take a look at other jurisdictions. Right now, it’s still in its inception stage. We hope that ERC will consider it in the next regulatory reset so at least it will take into consideration the new plants during that five-year period,” she said. For her part, Floresinda B. Digal, ERC spokesperson, said during the Senate hearing that should the regulator receive NGCP’s application for its five-year capital expenditure program in the first quarter next year, it would “fast-track the proceedings as much as possible.”

Stakes... from page 3

that was launched this year. Sithe owns a majority stake in GNPower Mariveles and holds 40 percent in GNPower Dinginin. G N Pow e r Mar i v e l e s has been operating since Februar y 2014 while

GNPower Dinginin is under construction for its 668 MW phase targeted for a 2019 completion. AboitizPower has investments in various thermal and renewable power generating facilities and maintains a balanced mix of energy sources to provide ample and reliable power at competitive rates. (PNA)

Lending... from page 5

the decline in other types of household loans. Going forward, the BSP said it will continue to ensure that domestic credit and liquidity conditions will keep pace with overall economic growth while remaining consistent with its price and financial stability objectives.

Improve... from page 5

D om i n g u e z p oi nt e d out t hat t he ver y f irst directive by the President in his State-of-the-Nation Address last July was for all government agencies to cut red tape to speed up the processing of permits and other official documents in the bureaucracy. At the DOF, for instance, D ominguez has named Beltran as the head of a newly formed anti-red tape committee mandated to fast-track the processing of official papers not only at the department but in the Bureaus of Customs and of International Revenue (BIR). To close the infrastructure backlog, he said the Duterte administration has decided to relax deficit spending

from 2 percent of GDP to 3 percent from hereon to accelerate spending on its three pro-poor and growthfriendly priorities of public infrastructure. Stamping out official corruption is likewise one of the top priorities of President Duterte, who has, among others, green-lighted the long-pending Freedom of Information (FOI) measure as one way to better check shenanigans and “keep government officials on their toes.” As for the concerns over tax rates and tax regulations, Dominguez said the DOF is crafting a Tax Reform Roadmap for Acceleration and Inclusion, which the gove r n m e nt w ant s t h e C ongress to pass s o on enough, to clear the way to long-needed reforms in tax policy and administration for the benefit of both individual and corporate taxpayers.

SSS...

from page 8

of Mr. Marcos and the rest of the public in obtaining any information regarding his whereabouts. At present, he remains at large and his punishment cannot be meted out,” said Cuisia. The law requires employers to report all their employees for SSS coverage within 30 days f rom t he st ar t of t heir employment. Companies are also legally-bound to remit the contributions of their employees to SSS every month. Late contribution payments of employers incur a three percent monthly

Republic of the Philippines Province of Misamis Oriental Municipality of Initao -oOoNOTICE TO THE PUBLIC CCE -0034-2016 R.A. 10172

Date: September 22, 2016

In compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No. 1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that REY ANNY MAY W. CABUSCA has filed with this Office, a petition for change of first name from ‘’ ‘’ to ‘’ ‘’ and correction of entry in sex from ‘’FEMALE’’ to ‘’MALE’’ or correction of entry in the date of birth from ‘’ ‘’ to ‘’ ‘’ in the certificate of live birth of REY ANNY MAY W. CABUSCA at Initao, Misamis Oriental and whose parents are CARLOS CABUSCA and CONCEPTION B. WABE. Any person adversely affected by said petition may file his written opposition with this Office not later than October 14, 2016.

(Sgd.) ISAIAS A. JARALES Municipal Civil Registrar

BWM: Sept. 28, Oct. 5 & 12, 2016

penalty. “ We u r g e c o m p a n y employees to monitor their employers’ remittance of their monthly contributions by opening an account at the My.SSS portal of the SSS website at www.sss.gov.ph

Progress... from page 2

will be their legacy to the people of the city. The councilor congratulated Mayor Oscar Moreno and Vice Mayor Uy for ef for ts to usher the city to progress and development through the drafting of the city’s threeyear development plan. (SP)

Hurst... from page 4

our husband. And if you’ll ask Jesus Christ to forgive you for all your wrongs in your marriage, and ask for His power to change, your love and example will begin to influence your husband to want to change. Then, you’ll be on your way to living with the right kind of husband! Just Think a Minute… EXTRA-JUDICIAL SETTLEMENT WITH A DEED OF ABSOLUTE SALE OF A PARCEL OF LAND

KNOW ALL MEN BY THESE PRESENTS: This EXTRAJUDICIAL SETTLEMENT WITH A DEED OF ABSOLUTE SALE is made and entered into this_____ day of________________in the City of Cagayan de Oro, Philippines, by and between: HEIRS OF THE LATE CALAMERO PAYLA, represented by his legal heirs/children, namely: PAQUITO PAYLA & GOMER PAYLA, both of legal age, Filipino citizen, both married, with residence and postal address at Moog Laguindingan, Mis. Or., RUBEN PAYLA & CHERRY PAYLA DUGU-AN, both of legal age, Filipino citizen, married, with residence and postal address at Malaybalay Bukidnon, ESTHER PAYLA MARTE, of legal age, Filipino citizen. Married, with address at kalibo aklan; SONIA PAYLA REYES, legal age, Filipino citizen, married, with address at San Pedro, Pampanga; JAIME PAYLA, of legal age, Filipino citizen, married, with address at Bagong Silangan, Caloocan City; and MELITA PAYLA LUBGOBAN, likewise of legal age, Filipino citizen, married, with address at Davao City all hereinafter referred to as the HEIRS/SELLRS; VICENTA AGBALOG JANGAO, of legal age, Filipino citizen, widow with residence and postal address at Moog, Laguindingan, Misamis Oriental hereinafter referred to as the BUYER/VENDEE; That the above-named parties, are all of legal age, are the legitimate children and sole of heirs of the deceased CALAMERO PAYLA, who died on February 1991 at Moog, Laguindingan, Misamis Oriental; That the said deceased, at the time of his death, left a Parcel of Land situated in Moog, Laguidingan, Misamis Oriental and more particularly A PARCEL OF LAND, known as LOT NO. 12460C14, containing an area of FOUR CDO THOUSAND FIVEMAIN HUNDRED BR P & J Lim Bldg EIGHT (4,058) SQUARE METERS, Kalambagohan more or less, declared in the Tel. # (08822) HEIRS ofTelefax CALAMERO PAYLA is # (088 the subject of “EXTRA-JUDICIAL SETTLEMENT WITH A DEED OF B CAMIGUIN ABSOLUTE OF PARCELSt., OF P B.SALE Aranas LAND”. Under the Notary Public Ca Mambajao, Tel. # (088) of EMELITO J. MARQUINO, per38 Doc. No. 88; Page No. 17; Book BR No. XIII; CORRALES Series of 2016. Corrales Ave.,

Cagayan BWM: Sept. 28, Oct. 5 & 12,de 2016 Or

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 â€˘ 0947-8935776

wednesday|october 5, 2016

Heart Evangelista-Escudero Actress A proud member of Member: PDIC. Maximum Deposit Insurance for Each Depositor P500,000 Veterans Bank is regulated by the Bangko Sentral ng Pilipinas.