BusinessWeek Mindanao (October 9, 2013)

INSIDE LOOK

Real estate developments mushroom in Gulf Arab countries Economy

PAGE 14

Philex cancels share sale, opts to fully draw on credit line Corporate World

PH bans poultry from Taiwan on avian flu report

PAGE 15

Agri-Business

PAGE 16

RCBC partners with Japan banks to back traders in PH Banking & Finance

MINDANAO DAILY NEWS SECOND SECTION

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Briefly Airport shutdown THE Civil Aviation Authority of the Philippines (CAAP) on Tuesday suspended all commercial operations at Zamboanga International Airport amid heavy rains that flooded its runway.

In a statement, CAAP said it issued a NOTAM (notice to airman) from 9:00 am until 9:00 pm yesterday after continuous rain caused widespread flooding in the city.

CAAP said it will issue an advisory by 7:00 am on Wednesday if another NOTAM will be issued for that day.

“Passengers affected by said flight cancellations are advised to contact their respective airlines for flight schedules,” CAAP said.

ARMM Investors TWO large companies are set to put up a combined investments of P390 million in the Autonomous Region in Muslim Mindanao (ARMM) after getting the approval of the region’s board of investments.

L a Fr u t e r a , I n c ., a subsidiary of Unifrutti Group of Companies will invest P300 million for the expansion of 300 hectares Cavendish banana plantation in Pandag town in Maguindanao to increase its banana production by as much as 1.2 million boxes per year.

Accordingly, La Frutera wants to take advantage of the increasing demands for bananas in the global market particularly in China, Japan and the Middle East.

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

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

Aboitiz proposes equal taxes for two host LGUs

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By BONG D. FABE, Correspondent

AVAO City -- To prevent issues on tax sharing between the local government units of Davao City and Davao del Sur because of its coal-fired power plant, AboitizPower Corpation has proposed an equal sharing of seventy percent of its taxes based on a Bureau of Local Government Finance (BLGF) decision.

FINISHING TOUCHES. A worker at the 7-megawatt Tudaya II run-of-river project of the Aboitiz-owned Hedcor Inc., in Barangay Astorga, along Sibulan River in Sta. Cruz town in Davao Del Sur. Aboitiz is constructing two run-of-river projects aside from the 300-megawatt coal plant in in Barangay Binugao, Toril District, Davao City and Barangay Inayawan, Sta. Cruz. mindanews photo by froilan gallardo

The other 30% is automatically paid to the LGU where the company principally holds office based on Section 150 of R.A. 7160 or the Local Government Code.

Therma South, Inc. (TSI), a wholly-owned subsidiary of AboitizPower, is now constructing its 300-MW coal-fired power plant in a contiguous area straddling Barangay Binugao, Davao City and Barangay Inawayan,

Sta. Cruz, Davao del Sur. A b o i t i z Powe r, f u l l y c o g n i z a nc e of t he t a x implication of its project, wrote the Davao City Council last month addressing the very volatile issue of local business taxes that, if not resolve this early, will pit two LGUs against each other that will complicate matters for the company.

Saying that the question “has arisen as [to] how” the aboitiz/PAGE 23

Tuna stakeholders seek representation in global fisheries organizations GENERAL Santos City -- Key players in the tuna industry call for the creation of the Philippine Committee for the Advancement of Highly

M ig r ator y Fi s her ie s , a lobbying arm to promote the country’s interests in global fisheries organizations such tuna/PAGE 23

No more ‘yellow ladies’ in Bukidnon’s highway

By WALTER I. BALANE, MindaNews

M A L AY BA L AY Cit y – Bukidnon’s female traffic enforcers have failed in their task to educate motorists obl ig i ng t he prov i ncia l government to stop their

services, an official said.

Lawyer Alberto Lagamon, provincial administrator, told MindaNews the services of the 14 “yellow ladies” were no no more/PAGE 23

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

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Economy

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GT Capital buys 67% stake PHL posts P 21.9B surplus in August ‘13 -- Continued improvement in tax in insurer Charter Ping An MANILA collection enabled the Philippine government post a 768 percent expansion in surplus in in consolidation move toAugust 2013 to P 21.9 billion over the P 2.5 GT Capital Holdings Inc. bought a 66.7-percent interest in Ty-owned insurer Charter Ping An Insurance Corp. for P1.4 billion, as part of the a to consolidate the non-life insurance business directly

under the conglomerate.

The conglomerate said the share-purchase deal covered 2.33 million shares of Charter Ping An at a fixed price of P614.3 per share, and that stake/PAGE 21

billion surplus for same period in 2012.

Finance Secretary Cesar Purisima, in a statement, said the surplus is eight percent higher than the P20.3 billion target for the month.

The budget surplus for the period brought the budget gap as of end-August to P 82.6 billion, 16 percent higher than year-ago’s P 71.1 billion but below the P 144.5 billion program for the first three quarters of the year.

“The above-target surplus is highly encouraging given that the government came

ver y close to hitting its spending target in August.

As other economies in Asia are resorting to aggressive revenue measures, we have proven that good governance has had a dramatic effect in restoring stability to the coffers of the government,” Purisima said.

Data released by t he Depa r t ment of Fina nce (DOF) Tuesday, showed that revenue collection last August rose faster at 20 percent to P 155.1 billion

than the five percent jump in spending to P133.2 billion.

In August 2012, revenues reached P 129.4 billion while expenditures is a bit lower at P 126.9 billion.

Of the total tax collection last August, the Bureau of Interna l Revenue (BIR), which collects about onethird of government revenues, totalled to P 118.1 billion, 22 percent higher than the P 96.8 billion same period last year.

Collection of the Bureau of Customs (BOC) expanded by 15 percent to P26.1 billion, up 15 percent against yearago’s P 22.6 billion.

Both the Bureau of the Treasury (BTr) and the Other

Offices also registered higher revenues at P 3.4 billion and P 7.5 billion, respectively.

BTr’s year-ago revenue is P3 billion while the Other Offices’ is P 7.1 billion.

In the first eight months this year, revenues reached P 1.14 trillion, 12 percent higher than the P 1.01 trillion collection in the same period in 2012.

BIR contributed P 811.9 billion, 16 percent increase over its January to August 2012 collection of P 701.4 billion.

Collection of the BOC during t he eight-mont h period amounted to P 198.9 billion, up four percent from surplus/PAGE 21

Real estate developments mushroom in Gulf Arab countries

DUBAI -- Amid solid economic prospects, driven by constant high oil prices and relative political stability, developers in the Gulf Arab region announce on an almost daily basis new mega projects worth billions of U.S. dollars, with the Emirate of Dubai taking a lead.

The biggest Middle East developer Emaar Properties from Dubai and the state-owned investment firm Dubai Holding said earlier on Monday that they had entered a joint venture to built The Lagoons, a residential and hospitality district adjacent to the in United Arab Emirates is taking the lead in almost daily new mega world’s largest man-made lagoon Dubai projects worth billions of US dollars due to constant high oil prices and relative mushroom/PAGE 21 political stability in this Arab region.

0917-7154399 088-856-8562/63

AMENITIES : ZORBIT * ATV * TREE TOP ADVENTURE BUGGY * BUNGEE * PICNIC GROUNDS PLAYGROUND * CAFE * LUGE * MINI GOLF * ROOM ACCOMODATIONS

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CorporateWorld

Mindanao Daily 15 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Editor : Neslon Constantino , e-mail- nelconstant@gmail.com

Philex cancels share sale, opts to fully draw on First Pacific credit line PHILEX Mining Corporation is no longer pursuing the sale of additional shares, opting instead to fully use credit made available earlier by its Hong Kong-based parent company.

Philex mining engineers check crushed ore in northern Benguet.

Competitive local real estate rates to draw investors in PHL THE Philippines remains having the most competitive real estate rates in Asia which an advantage to attract more investors to come in the country according to the leading real estate advisor, CBRE Philippines.

CBR E Philippines Cha irma n a nd Founder Rick Santos said in a press conference Tuesday that the local real estate industry will remain bullish as it offers lowest rates within the Asian region.

Santos said prime rental rate in the country is priced at US$ 26 per square foot (sq. ft.) per annum.

T his is compa red to other Asian countries such as Bangkok with rental rate of US$ 32/sq. ft./annum; Kuala Lumpur, Malaysia at US$ 46/sq. ft./annum; Jakarta, Indonesia at US$ 65/sq. ft./ annum; Singapore with rate of US$ 99/sq. ft./annum; New Delhi, India pegged at US$ 122/sq. ft./annum; Beijing, China at US$ 182/sq. ft./ annum; and Hong Kong as the highest rate at US$ 207/ sq. ft./annum.

Likewise value of land properties in the Philippines has its lowest across Asia amounting to US$ 8.66/sq. ft./annum.

Ot her neighboring countries such as Bangkok, Thailand has land rate of US$ 13.38/sq. ft./annum; Beijing, China at US$ 28.31/ sq. ft./annum; Singapore at US$ 187.42/sq. ft./annum; and Hong Kong with US$ 238.28/sq. ft./annum.

The lower office rental and land rates in the Philippines has been one of the major reasons of multinational companies to expand and put up investments in the country, Santos mentioned.

He added that because of the competitive local real estate rates, companies from Information TechnologyBusiness Process Ma na gement (I T-BPM) industry chose to expand in the Philippines.

“The Philippines is one of the most cost-effective and attractive destinations for Business Process Outsourcing (companies) and real estate investors in Asia,” Santos

said noting that the IT-BPM industry is also the key driver of the increasing demand on local office spaces.

Fu r t her, S a nto s ment ioned t hat foreig n investors are look ing at

the positive economy of the country such as high Gross Domestic Product (GDP) growth, consumption driven market, and educated workforce among others.

(PNA)

In a disclosure to the Philippine Stock Exchange, the country’s biggest listed mining company said its board decided to cancel a P13.8 billion stock rights offering because of “low com mo d it y pr ic e s a nd current volatility” in the stock market.

Had it pursued the stock rights offering of one new share for every two existing shares held, Philex could have priced it at no more than P5 apiece, thus diluting the value of existing shares by a third.

“The board of directors believes that the price is substantially lower than

t he underly ing va lue of the company, including its Silangan Project and, as such, proceeding with the stock rights would not be in the best interest of the company and its shareholders,” Philex said.

The proceeds of the equity fund-raising were meant to fund the company’s capital expenditures, including the $1-billion Silangan coppergold project, as well as repay a loan taken out earlier from parent First Pacific Company Ltd. In lieu of the stock rights offering, Philex will continue to tap a $150-million credit facility that First Pacific

made available earlier.

The mining company said its board approved drawing down the remaining $20 million after taking out $130 million earlier.

“The existing facility prov ides $20 million of unutilized funding for the Silangan Project, relieving the company in the meantime of the pressure of providing such funding out of the company’s cash flows,” Philex said.

Whatever cash flow Philex could generate would instead be used to complete the rehabilitation of the Padcal copper-gold mine and pay dividends “should the board deem it appropriate to do so.”

Lastly, the Philex board cleared a proposal giving philex/PAGE 21

AgriBusiness

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

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PH bans all poultry from Taiwan on avian flu report repeatedly struck Taiwan.

The Agriculture Depa r t ment lif ted a temporary ban on importing pou ltr y products f rom Taiwan in November 2012 after global animal health authorities issued a clearance that it was free from bird flu contamination. But outbreak of the highly pathogenic avian influenza H5N2 (HPAI H5N2) was discovered in a chicken farm in Taiwan a month later.

The Depar tment of Agriculture on Friday said it imposed a ban on poultry meat products, domestic and wild birds including day old chicks, eggs and semen f rom Taiwa n, fol low ing reports of an outbreak of low Pathogenic Avian Influenza or LPAI in the township of Yuli, Hua-lien.

Dr. Ping-Cheng Yang, d irec tor of t he A ni ma l Te c h n o l o g y I n s t i t u t e Taiwan, reported to the Office International Des Epizooties (OIE), about the outbreak. LPAI serotype H5N3 was isolated from a duck farm in the township on July 16, 2013. The presence of the virus was confirmed on August 2, 2013.

Agriculture Secretary Proceso Alcala ordered a freeze on all imports of domestic and wild birds

f r o m Ta i w a n t o k e e p domestic poultry population from being infected, the department noted in an e-mailed statement.

A l l pr o c e s s i n g a n d evaluation of applications for Veterinary Quarantine Clearance on importing all related commodities from

Taiwan were suspended, the Agriculture Department said.

Veterinary inspectors in all major ports of entry in the Philippines were ordered to stop all shipments of poultry meat and similar products from Taiwan.

Outbreaks of bird flu have

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

LALAINE ESTRADA - Vendee Applicant/s

CASE NO; 2013-10-1305

SADAT USMAN - Vendee Applicant/s

CASE NO; 2013-10-1306

MERVIN L. SUMAOY Applicant/s

CASE NO; 2013-10-1704 2008-10-1276

NOTICE OF HEARING

NOTICE OF HEARING

NOTICE OF HEARING

APPLICANT request authority For approval of sale and transfer with extension of validity of certificate of public convenience and amendment of route as PUJ service on the line;City Proper to Baraas –NFA via Laville and vice versa with the use of one (1)unit/s.

This application will be considered by this Board on October 17, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 7th day of October, 2013.

APPLICANT request authority for approval of sale and transfer with extension of certificate of public convenience (CPC)and amendment of route as PUJ service on the line ;City Proper to Carbide Village and vice versa with the use of one (1)unit/s.

This application will be considered by this Board on October 17, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 7th day of October, 2013.

APPLICANT request authority to extend the validity of certificate of public convenience to operate PUJ service on the line;Manolo Fortich to Camp Philips –Alae (all in Bukidnon)and vice and vice versa with the use of one (1)unit/s.

This application will be considered by this Board on October 17, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 8th day of October, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MARIANNE C. ULEP Records Officer/Acting Docket Officer

BWM: Oct. 9, 2013

BWM: Oct. 9, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City FERNANDO M. GUEVARA, JR. Applicant/s

Case No; 2013-10-1702

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City FRANCISCO M. CABACCAN, JR. Case No; 2013-10-1701 Applicant/s

MARIANNE C. ULEP Records Officer/Acting Docket Officer BWM: Oct. 9, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City MIGUEL PLA Applicant/s

CASE NO; 2013-10-1699 2008-10-1926

Anti-GMO halts field trials of ‘Bt talong’

PROPONEN TS of a nt igenetica lly modif ied organism (GMOs) scored victory in their campaign a ga i nst bio -te ch nolog y when the Court of Appeals (CA) upheld its decision to cease field trials of the Bacillus thuringiensis (Bt) or eggplant.

Chito Medina, national coordinator of the Magsasaka at Siyentipiko Para sa Pagu n lad ng Ag ri ku ltura (MASIPAG), said they still have three more motions for reconsiderations submitted to t he cour t by severa l proponents of field trials of Bt egg plant.

The f ield trials of Bt talong, according to Medina, started in the Philippines in 2010. One of the sites of the field trials is the University of S out her n M i nd a nao (USM), one of the largest state-owned universities in Central Mindanao located in Kabacan, North Cotabato.

The f ield testing, when it started, was also met w it h protests f rom e nv i ron me nt a l i s t s a nd groups opposed to GMO or bio-technology. halts/PAGE 21 Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City ELVIRA PIZARRO - Vendee Applicant/s

CASE NO; 2013-10-1304

NOTICE OF HEARING

NOTICE OF HEARING

NOTICE OF HEARING

NOTICE OF HEARING

APPLICANT request authority for issuance of certificate of public convenience for appropriation of Dropped/Abandoned of certificate of public convenience to operate TAXI service on the line;within Cagayan de Oro City and from said place to any point in Region X and vice versa with use of one(1)units.

This application will be considered by this Board on October 17, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 8th day of October, 2013.

APPLICANT request authority for issuance of Certificate of public convenience to operate TH FRIEGHT TRUCK service on the line;Within Cagayan de Oro City to any point in Region X accessible to motor vehicle traffic and vice versa with the use of one(1)unit/s.

This application will be considered by this Board on October 17, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 7th day of October, 2013..

APPLICANT request authority to extend the validity of certificate of public convenience to operate TAXI service on the line;Within Cagayan de Oro City and from said place to any point in Region X and vice versa with the use of one(1) unit/s.

This application will be considered by this Board on October 17, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 7th day of October, 2013.

APPLICANT request authority for approval of sale and transfer with extension of validity of certificate of public convenience (CPC)and amendment of route as PUJ service on the line;City Proper to Tambo –Bayug and vice versa with the use of one (1)unit/s.

This application will be considered by this Board on October 17, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/ her evidence.

At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties.

N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION.

WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 7th day of October, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MARIANNE C. ULEP Records Officer/Acting Docket Officer

BWM: Oct. 9, 2013

BWM: Oct. 9, 2013

BWM: Oct. 9, 2013

BWM: Oct. 9, 2013

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Banking&Finance

Mindanao Daily 17 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

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

RCBC partners with Japan banks to back Japanese traders in PH YUCHENGCO-led Rizal Commercial Banking Corp. on Thursday said it formed a partnership with Saitama Resona Bank Ltd. The Kinki Osaka Bank Ltd. to support Japanese small and medium enterprises in the Philippines.

The Japanese banks are members of Japan’s Resona Holdings Inc. The partnership will provide financial services for Japanese SMEs operating in the Philippines as well as those planning to invest in the Southeast Asian country.

Par t of t he partnership

agenda is to adv ice t he Japanese on investing and operating a business in the Philippines.

According to RCBC , its Japa nese Business Relationship Off ice and its Japanese and Ecozone Segment specialize in dealing w it h ba n k i ng needs of

Japanese companies in the Philippines. “ T h e Ph i l ip pi n e s i s seen as the perfect venue for p ot e nt i a l l y g re at e r investments by Japanese companies given its stable economy, strong domestic consumption as well as a more cost-effective, Englishspeaking labor force, making the RCBC-Resona Group pa r t nersh ip e ven more beneficial for both banking groups,” RCBC noted in a statement.

BSP warns repeat of credit crunch should US defaults on its debt

CREDIT will dry up and interest rates will shoot up should the US default on its debt, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. said, as the deadline for American lawmakers to hike the federal government’s borrowing cap nears.

“Policy makers are getting more concerned about the possibility of failure on the part of [the US] Congress.

Implications can be serious and the occurrence on actual default can lead to dark consequences.” Tetangco told reporters yesterday.

He said credit markets could freeze, the US dollar can plummet, and US interest rates would go up. “Those

things will have negative spi l lover ef fec ts. We’re still hopeful this would be resolved soon,” he said.

“The most immediate concern is liquidity. Just like what happened in 2007.

Banks will not lend to each other. They will keep their cash and interest rates will rise,” Tetangco said, citing what happened during the global financial crisis of 2007-2008.

“US dollar can react negatively to that because of erosion of confidence,” he said.

Capitol Hill has until middle of this month to raise the US government’s borrowing limit to avoid a default. Analysts said this

is a bigger problem than the US government’s partial shutdow n, which bega n October 1 after American lawmakers failed to pass a budget.

Despite t hese dire consequences, the Philippines has sources of resilience such as robust economic growth, improved fiscal performance and debt metrics, as well as a sound banking system, Tetangco said.

The Philippines’ gross domestic product (GDP) grew 7.6 percent in the first six months of the year, faster than the government’s full-year target range of 6-7 percent.

The government has kept its budget deficit at less than bsp/PAGE 21

Rizal Commercial Banking Corp. partners with Japan’s Saitama Resona Bank Ltd. in a bid to support Japanese small and medium enterprises in the Philippines.

Independent analysts take a bite out of investment banks in Asia HONG KONG - After 27 years working for investment banks and hedge funds, Hong Kong-based equity research analyst Paul Schulte decided it was time to fly solo.

Carrying a resume littered with big names like Nomura Hold i ngs Inc a nd CCB International, the overseas investment banking arm of China Construction Bank , and several others, some of whom no longer exist, Schulte wished he had gone independent sooner.

The independent research industry has started to gain a foothold in Asia. It is already relatively mature in the West thanks to regulations enacted last decade in the United States to end the conflicts of interest between banks and analysts.

Now, a growing number of analysts are trying their luck as independents, selling knowledge and expertise picking stocks, as investment banks have cut back on

research departments in the wake of the global financial crisis.

“We are in a very different world,” Schulte, a 48-yearold American, told Reuters in a Hong Kong office space that he shares with other companies.

“In the last four years, if you don’t see that the research game in investment banks is over, then you are just a fool,” said the exLehman executive.

Banks were and continue to be under pressure because of shrink ing trading volumes, thinning client lists and regulatory changes restricting their proprietary trading activities.

As a result, there were less jobs and pay in research units, and less chance of career advancement. It became a recipe for disillusion, raising questions over professional values and quality of life for Schulte.

“When you are inside

an institution, there are fundamental conf licts of interest. Let’s not pretend there is any independence going on whatsoever,” said Schulte, who has sovereign wealth fund CIC and hedge fund Fortress among his clients.

“Some people just don’t feel comfortable anymore work ing for f ina ncia l institutions.”

These days he is unafraid to ma ke a lot more sell recommendations than he ever did working for banks.

Nearly half of his calls are “sells” right now as compared to less than a tenth that the teams he led at banks regularly issued.

Schulte, who also teaches at the University of Science and Technology in Hong Kong, is among a growing number of independent analysts challenging the overly optimistic ratings that the sell side analysts banks/PAGE 21

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

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

The

CAGAYANTIMES de Oro

LIFESTYLE

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Pink Spirit: A Musicale was held in Centrio, Ayala Mall on October 6, 2013. Hand in hand with Abs-Cbn, Launch Pad, Dream Board Artists, I can serve foundation Inc. and Thrive CDO, the musicale was a major success. Inspired by real life stories of survival, the arrangement of Dense Modesto, vocal coaching by Donie M.Galigao and direction of Jimmy Esmero came into play and captivated the audience. The musicale gives out a message to women who have breast cancer that they are not alone in their fight because in this life what matters is that we love, laugh and live. Photo by GLENN PALACIO, MDN Lifestyle Photographer

LOVE, LAUGH, LIVE. The musicale inspired by real life stories of survival at the Centrio, Ayala Mall, October 6, 2013.

Photos by GLENN PALACIO, MDN Lifestyle Photographer

wednesday | October 9, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

The

CAGAYANTIMES de Oro

LIFESTYLE

Mindanao Daily 19 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

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

My Role in Breast Cancer Awareness

T

here is no price that’s too extravagant to pay in exchange for a healthy life. This was the important lesson that a family friend of ours learned when a lump in her breast was found a couple of years ago.

After her sister got diagnosed with breast cancer in 2006, she realized that she was also at risk because of her family history. When her mammogram gave positive results, she flew immediately to the States for treatment.

Thanks to that single mammogram, she is now cancer-free and healthy, though she still receives treatment to keep the cancer away permanently.

Breast Cancer is a prevalent disease that targets women all across the globe, regardless of the race or stature.

The breasts are composed of a kind of fat which makes it an easy target spot for cancer cells to develop.

The symptoms of breast cancer include abnormalities or masses found in the breast area or chest region.

Women who started menstruation before age twelve as well as mothers and those women in the stage of menopause are susceptible to breast cancer.

Many children are left motherless because of the taint left by breast

cancer in society at present.

The task that we are faced with today as part of the youth is to raise breast cancer awareness; not only for the sake of ourselves, but also for the love we bear to the women in our lives.

Knowing that breast cancer exists is not nearly enough – just ask the thousands of families whose lives are forever altered because of losing their loved ones to breast cancer.

Wearing pink and organizing concerts or rallies alone are not enough to truly educate the women of our present society since this reduces the idea of breast cancer as an abstract, intangible concept.

What we need to advocate for is to actively pursue the reduction – or even the complete eradication – of breast cancer. The question that needs to be answered now is “how”?

How do we prevent breast cancer from taking our beloved mothers, sisters, daughters and friends? The answer is simple: through early detection and lifestyle changes.

Like many other types of cancer that plague humanity, the ultimate protection against breast cancer is early detection.

One way to detect breast cancer is by getting a mammogram.

Mammograms are breast exams available to women who are thirty-five years old or older.

Through this exam, lumps or mass formations can easily be detected and treated.

Mammograms increase your chances of getting a good prognosis, and ultimately, abetter and healthier, cancer-free life.

For those of us who are in the 35 and above category, there are still some measures that we can take to prevent breast cancer.

We can stay cancer-free by living a healthy lifestyle, by drinking less alcohol and stealing away from meat and processed foods.

I know that these might seem like such difficult things to sacrifice, but your body will thank you for it, believe me.

A woman’s body is a majestic, beautiful thing. Not only can it produce and carry another human being for nine months, but it can also sustain that child through breast feeding.

Since we’ve established that the female body is important, then it is only right that women should protect and pay attention to their breasts and ensure that they are healthy.

We should not only treasure our breasts by size – A, B, C, D or all other letters in the alphabet that are relevant – but also by their state of health.

Remember that one in eight women is likely to get breast cancer in their life; that woman can be you.

Worse, that woman can be somebody you love. By getting mammograms and committing to a healthier lifestyle, you and your loved ones can be part of the seven who remain cancer-free.

Encourage your family members to get mammograms. Drag them into a clinic if you have to because indeed, the best protection is early detection.

All the chemotherapy or mastectomies in the world are irrelevant (sic) if it comes too late.

Do it for the women who have lost the fight; more so, do it for the women who won’t give up the fight.

(Winning Piece by Krishna Celine Magallanes, St. Mary's School, Entry No. 9 with an average rating of 92 for Thrive's CDO 1st Breast Cancer Awareness On-The-Spot Essay Writing Contest held September 28, 2013 in SM City CDO in in partnership with the Association of Private Secondary Schools in Cagayan de Oro and SM City – CdO)

Ayala Foundation provides 60 PCs to 21 Globe Telecom-supported schools in Benguet

A

yala Foundation, Inc. has donated 60 refurbished desktop computers to 21 elementary schools in Benguet province housing the seedling nurseries under the Roots & Shoots program of the Cordillera Conservation Trust (CCT) which Globe Telecom is supporting.

The computers will be used to supplement environmental education of the students who are being tapped to build and maintain the nurseries.

“Ayala Foundation is always looking for innovative education projects to support. It is such a pleasure for us to contribute in bringing technology to the children especially those in remote areas. Hopefully, these computers will serve as an avenue for the students to explore more about their environment so they can see the value in protecting it for their future,” said Luili Heras-De Leon, President of Ayala Foundation.

Fernando Esguerra, OIC, Globe Corporate Social Responsibility said: “We are very grateful to Ayala Foundation for helping us with this undertaking. We always welcome support of any kind to further our goal of educating the young on the importance of our forests and have them play an active role in rebuilding and maintaining these forests. Like our slogan for Roots & Shoots say – start with the seed and start with the young and grow forests from there.”

Earlier, Globe provided P800,000 for the establishment of the 21 seedling nurseries hosted

JP Alipio, Executive Director of Cordillera Conservation Trust (front, left) and Carmela David, Project Lead for Globe Telecom (front, 2nd from left) together with principals of Roots & Shoots seedling nursery program partner schools in Benguet province. by public elementary schools in La Trinidad, Tuba, Kapangan, and Kayabayan. The amount came from the funds raised during the Globe Cordillera biking challenge held last year.

Roots & Shoots which is being implemented by CCT in partnership with the Department of Education in Benguet, aims to deliver needed seedlings in order to replenish the bald mountainsides. This is to support the enhancement of community watersheds and prevent landslides in critical areas. It also offers a possible livelihood source for the school and community with

the inclusion of commercial crops such as coffee which can be interplanted underneath the forest.

CCT provides initial materials to establish the nursery in select public schools while community stakeholders such as students, teachers, parents, and members of the barangay lend their time and effort to construct a nursery that can house about 2,000 seedlings.

The seedlings are then nurtured by the students and the teachers until they are ready to be sold and planted for forest-building.

From the recent Globe Cordillera Challenge 4, Globe was able to

raise P1.2M from registrations, pledges and sponsorships to fund the establishment of additional 30 seedling nurseries again to be hosted by public elementary schools.

“Creating the nurseries not only allowed for the expansion of the forest building practices to the youth and community but it also created on site production areas for Forest Building. The schools are now the production centers for the community’s forest building needs situated right where they are needed most,” said JP Alipio, Executive Director of CCT.

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

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

Environment

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Major roads in Zambo City now flooded -- OCD MANILA -- The Office of Civil Defense (OCD) on Tuesday announced that some major roads in Zamboanga City have become impassable to vehicles due to flooding brought about by heavy rains.

It added that vehicles were stalled along thoroughfares including in Pilar Street due to the floods.

Radio repor ts sa id that many families were evacuated from their homes in areas such as in Divisoria district.

The OCD stated that the Coast Guard and Philippine Nav y are helping in the evacuation operations.

Earlier, Zamboanga City Mayor Isabelle ClimacoSa lazar ordered the suspension of classes and work in government nonfrontline services due to the floods.

Zamboanga City has yet to recover fully from the effects of last month ’s f ighting between government and Moro National Liberation Front (MNLF) forces. (PNA)

Eco-Academy goes to Sabsaban Falls in southern Palawan

PUERTO PR INCESA CITY – Two weeks after his installation, the new commander of t he 12t h Marine Battalion Landing Te a m , M a j . R o d e l G .

Martires, hit the road to join his troops Monday in turning over the operations of Eco-academy in Brooke’s Point tow n in sout hern Palawan.

MBLT-12, the southern Palawan-based Marine unit, participated in the conduct of the turnover of the EcoAc a d e my M a n a ge me nt Operations project of the ABS-CBN Foundation Inc. According to Lt. Rosevy Buenaventura, spokesperson of MBLT-12, the satellite office, including its facilities located near Sabsaban Falls, Barangay Mainit, Brooke’s Point, were gladly accepted by the local government unit headed by its chief executive, Atty. Mary Jean Feliciano.

“Our troops are ver y active in community projects such as these so as to let the Palawenyos know that we are more than combatants.

More than defending our nation and ensuring peace and security in the province, especially southern Palawan, your Marines are working for the benefit of the people,” Buenaventura said.

The Eco-Academy was developed by ABS-CBN Fou ndat ion to spread environmental awareness, g u ided by it s le a r n i ng philosophy of “Let Nature Be Your Teacher”. The Ecoacademy piloted its program in the La Mesa Eco Park, where it was utilized as a natural venue for conducting hands-on environmental learning activities, advocating environmental issues, and developing an ecological consciousness amongst its thousands of visitors and guests.

Other Eco-Academy sites were developed, and ABSCBN Foundation aims to duplicate La Mesa Eco Park’s success in Sabsaban Falls, significantly contributing to the long-term preservation a nd pr ot e c t ion of t h e environment. (PNA)

After being displaced by the three-week standoff between government forces and the Moro National Liberation Front – Misuari faction, evacuees in Zamboanga City have to contend with floodwater brought by heavy rains on since Friday, Oct. 4, 2013. photo courtesy of minhrac

Protected areas gain opportunity for non-conventional funding MANILA – The wildlife bu reau ex pec ts newly e n a c t e d R A 10 6 2 9 t o promote out-of-t he-box but environment-friendly measures that will further raise revenues for better conservation and protection of Philippine protected areas (PAs) which government safeguards due to recognized natural, ecological and/or cultural values.

RA 10629 amends Sec. 16 of RA 7586 (National Integrated Protected Areas System or NIPAS Act of 1992) so mu lt i-sectora l protected area management boards (PAMBs) hav ing jurisdiction over PAs can retain 75 percent of revenues generated there, and which accrue to the Integrated P r ot e c t e d A re a s F u n d (IPAF), for use in enhancing respective conservation and

protection efforts. ”That should serve as incentive for PA MBs to be creative in generating more revenues for respective PAs,” said Protected Areas and Wildlife Bureau Dir. Theresa Mundita Lim. She considers RA 10629’s enactment timely, noting climate change is elevating u rgenc y for i mprov i ng conservation and protection efforts in PAs. ”We’re promoting ecotourism in PAs but still need to exercise caution and ensure those areas don’t end up destroyed,” she also said.

Latest available gover n ment d at a show the country has 240 PAs established under RA 7586.

Some 232 of those PAs are within the country’s tourism development areas,

A fisherman in Samal Island removes seaweeds as he checks his nets before heading out to sea on October 6, 2013. mindanews photo by toto lozano

the data also show.

Rep. Pr yde Hen r y Teves (3rd District, Negros Oriental) is principal author of HB 5996 which he filed last year to overhaul the PA funding system by enabling PAMBs to retain 75 percent of revenues accruing to IPAF. R A 7586 established IPAF, a trust fund, to finance projects under the NIPAS system.

Such law and RA 10629 provides that IPAF “may solicit and receive donations, endowments, and grants in the form of contributions, and such endowment shall be exempted from income or gift taxes and all other taxes, charges or fees imposed by the government or any politica l subdiv ision or instrumentality thereof.”

Both laws also identified

sources of PAs’ income.

Those sources are taxes from permitted sale and export of f lora and fauna and other resources from PAs, proceeds from lea se of mu lt iple-use areas, contributions from industries and facilities directly benef iting from PAs as well as other fees and income derived from PAs’ operation. ”Each PA has a trust fund but before RA 10629’s enact ment, a l l revenues generated there went to the national treasury,” Lim said.

She noted under such arrangement, PAMBs relied on government to f u nd implementation of respective work plans.

Lim sa id R A 10629’s enactment reduced such dependence on nationa l funding/PAGE 21

PIG C AWAYA N , Nor t h Cotabato – An irrigation c a n a l over f lowe d here Sunday due to torrential r a i n s t r ig gere d by t he intertropical convergence zone that flooded portions of the Cotabato-Davao highway.

The f loods force public works officials to shut dow n por t ions of the highway in Barangay Buluan, Pigcawayan, North C otabato, accord i ng to municipal engineer Engr.

Elmer Aclaracion.

“Due to heavy downpour in upper Barangay Buluan area that led to the collapse of a large irrigation canal and the Buluan creek overflowed,” Aclaracion said.

Acla racioi n sa id t he water from the villages of Gimareg, Tigbawan flowed to Anik river which overflowed Sunday morning.

As early as 6 a.m., the

highway was flooded with knee-deep floodwater. Fourwheeled vehicles had to be towed by heavy equipment to cross rampaging waters.

The floods also inundated more than 10,000 hectares of rice fields in at least seven villages of Pigcawayan.

Aclaracion identified the seven flooded as Barangay Banukagon, Bula kawon, Pugon, Poblacion 2, Buluan a nd Nor t h a nd S out h Manuangan.

The flooding also forced about 30 families to flee to safer grounds and are being attended to by the municipal social welfare office.

Ac l a r a c ion s a id t he highway had been opened to traffic Monday morning after the flood water slightly receded.

Meanwhile, f ive lowly i ng mu n icipa l it ies of floods/PAGE 21

Torrential rains trigger floods in Maguindanao, N. Cotabato

Mindanao Daily 21 NEWS

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Stake... from page 14

the shares were bought from various investment holding companies of George Ty. The remaining 33.3 percent of Charter Ping An is held by First Metro Investment Corp., GT Capital noted Tuesday in a disclosure to the Philippine Stock Exchange.

“The consolidation of Charter Ping An into GT Capital is timely, given the encouraging prospects for growth in the country’s non-life insurance industry,” conglomerate chairman Arthur Ty said in a statement.

“This capacity for expansion is largely driven by the sustained robust performance in the auto, property, and financial services sectors. The acquisition also provides strong synergy with our existing businesses,” he added.

Along the line of its business model, GT Capital invests in market-leading companies that possess strong growth potential.

Charter Ping An was No. 2 in terms of net income and No. 4 in net premium written among the 67 non-life insurers in the Philippines last year.

The insurer registered a 27-percent compounded annual growth rate in net present value, compared with the industry rate of 10.5 percent over the past three years. – VS, GMA News

Surplus... from page 14

year-ago’s P 190.4 billion.

BTr’s collection is flat yearon-year at 60.9 billion but it is already ahead of the P 45.3 billion programmed for the third quarter.

The Other Offices’ revenues during the same period reached P 67.5 billion, 11 percent higher than year-ago’s P60.9 billion and just a billion short of its P 68.5 billion goal for the first three quarters this year.

Government spending in the first eight months this year rose 13 percent year-on-year to P 1.22 trillion against the P 1.08 trillion in the same period last year. Spending target for the first three quarters this year is P 1.44 trillion.

Purisima said reforms that are being put in place by the Aquino government such as the revamp in the BOC “would support revenue resilience.”

“Significantly, we have replaced all of the BOC’s Deputy Commissioners and Por t Collectors with new personnel recruited from the public and private sectors. This is to give the BOC, an agency historically criticized as a bastion of corruption, a clean slate to build good governance from the ground up,” he said.

“Ultimately, we aim to restore trust in the Bureau and stamp out smugglers and their ilk once and for all,” he added. (PNA)

Mushroom... from page 14

in Mohammed Bin Rashid (MBR) city, a planned new “city within the city.”

According to the e-mailed statement by both entities, The Lagoons is a waterfront city spreading over 6 million square meters. The project just came one day after the Dubai-based developer Crystal Lagoons said it

will build for 7 billion U.S. dollars the world’s largest man-made lagoon water reservoir with a surface of 40 hectares in the heart of Dubai.

Led by the Dubai Tourism Vision to record 20 million visitors by the turn of the decade, the project will help firmly establish Dubai as one of the top 10 global cities by 2020, said the statement.

Competition for global attention is fierce in the Gulf region, as the six Gulf Cooperation Council (GCC) countries are stepping up efforts recently to launch new residential, commercial and infrastructure projects amid a positive economic prospects in this region.

Last Saturday, the International Monetary Fund (IMF) expected the region’s gross domestic product to grow at 3.7 percent this year, which would be lower than the exceptionally strong average rate of 6.4 percent in the year of 2010-12, “but favorable by global standards.”

U.S. crude oil prices have gained over 15 percent in the last 12 months, feeding the GCC states’ budget surpluses.

Meanwhile, the two major oil suppliers Saudi Arabia and Kuwait are accelerating construction on the two landmark towers which are poised to become the tallest buildings in the world.

Saudi started in Jeddah at the Red Sea the Kingdom Tower which shall have the oriental height of 1001 meters, whose construction would last for six years. The northern Gulf state of Kuwait also builds a recordbreaking high tower, the Burj Al-Mubarak Al-Kabeer, which shall also have a height of 1001 meters.

At the end of July, the Saudi capital Riyadh awarded contracts worth 22.5 billion dollars for the construction of the Riyadh metro. The driverless system that spreads on a network of 176 kilometers length shall help ease traffic in Riyadh’s chronically congested streets.

Nevertheless, progress in building is not always a ride on the fast lane. The gas-rich Gulf state of Qatar had to postpone the opening of its mega project, 5,400acre New Doha International Airport last month due to a legal dispute with Dubai-based interior design firm Depa, as both sides blame each other of alleged delays in the inner fit-out work.

The real estate boom is also visible in leading developers’ profits. Earlier in the day, Dubai’s state-owned company Nakheel announced that it generated in the first nine months of this year a net profit of 1.77 billion Dirham, or 482.68 million dollars, representing a year-on-year increase of 58 percent. The surge was driven by “a return of investor confidence,” Nakheel said in a statement on its website.

(PNA/Xinhua)

Philex... from page 15

First Pacific the right to subscribe up to $150 million in direct equity interest in the Silangan project.

“Proceeds of the subscription would be used to fund the repayment of advances under the existing facility,” Philex said.

The mining firm said the amount subscribed to would depend on the valuation of the Silangan project, which would be finished within 90 days.

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

Halts... from page 16

Medina’s group is also against the GMO rice called Golden Rice.

Golden rice is produced through genetic engineering to bio-synthesize beta-carotene, a source of Vitamin A. Medina said that although indeed there is deficiency of Vitamin A intake among children, it is not safe for them to eat Golden Rice as it is engineered through a process that is harmful to humans and environment.

Golden rice has undergone two years of field testing in the Philippines, reports said, but anti-GMO group recently attacked and destroyed field trials at the International Rice Research Institute, a development that reached the attention even that of the New York Times and Microsoft founder and philanthropist Bill Gates who have many pro-poor programs around the world.

BSP...

from page 17

half the 2013 ceiling, while its foreign debt has dropped after years of reducing its external obligations.

R o b u s t e c o n o my a n d improving finances in turn have triggered upgrades in the Philippines’ credit rating to investment grade, the first time for a country that only three decades ago defaulted on its foreign debts.

Banks... from page 17

often give to the companies they cover.

Critics have long said that research analysts working for banks were too soft on companies, while independent analysts can be more cold-eyed and ready to issue sell calls, helping clients to short or stay away from struggling companies.

Top analysts, who just a few years ago took home $1 millionplus, have become increasingly unaffordable and left banks to set up on their own.

The inroads made in Asia by independents are modest and few are profitable, but the growth is evident.

Commissions paid to the independent research industry in Asia has risen by 40 percent to $200 million since 2009, according to Integrity Research Associates, a consultant.

By comparison, global equity commissions, which are mainly paid to investment banks, fell 21 percent $27.7 billion.

Funding... from page 20

government, however. ”Among components of managing PAs is sustained finan c ing – t he ret aine d revenues will serve as seed money for PAMBs’ conservation and protection activities there,” she said.

According to RA 10629, IPAF disbursements shall be made solely for protecting, maintaining, administering and managing the NIPAS system and duly-approved projects endorsed by PAMBs. Such disbursements must be in amounts the environment depar tment authorized in accordance with existing

accounting, budgeting and auditing rules and regulations, RA 10629 notes.

IPAF “shall not be used to cover personal services expenditures,” R A 10 629 clarifies, however.

D e s p i t e R A 10 6 2 9 ’s enactment, Lim said government can still extend some support for management activities in revenue-generating PAs “until respective IPAFs there take off.” ”Afterwards, we can refocus assistance on other PAs which aren’t generating income yet,” she said.

RA 10629 requires IPAF, including all donations, grants, endowments from various sources and other contributions, to be deposited in any government bank within the locality where each PA is located. ”If there is no government bank available in the locality, an account shall be opened in a government bank nearest to the locality” RA 10629 reads.

Lim said PA management plans must identify revenuegenerating activities as well as conservation and protection measures. ”We have guidelines on activities apt for PAs,” she said.

The income-generating activities must have as minimal ecological footprint as possible to prevent degradation of PAs, she continued. ”Environmental safeguards must be met,” she said.

Global Footprint Network cites ecological footprint as the world’s premier measure of humanity’s demand on nature.

Such footprint is a measure of how much area of biologically productive land and water an individual, population or activity requires to produce all resources it consumes and to absorb waste it generates using prevailing technology and resource management practices, the network said.

Enacted in late September 2013, RA 10629 will take effect this month after being published in the Official Gazette.

The House and Senate passed HB 5996 in May 2012 and June 2013, respectively, paving the way for its transmission to Malacanang in August this year for approval.

(PNA)

www.johndprovoice.com

Floods... from page 20

Maguindanao were flooded Sunday following an overnight heavy to moderate downpour Saturday.

Still under water were low-lying barangays of the municipalities of Mother and Northern Kabuntalan, Talitay, Sultan sa Barongis and SK Pendatun, all towns surrounding the 22,000-hectare Liguasan marshland. (PNA)

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

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Petron ousts RoS, forges finals showdown with San Mig

Petron’s Marcio Lassiter (L) shakes off his defender, Ryan Arana of Rain or Shine, in Game 4 of their PBA Governors Cup semi-finals series. photo by mark cristino for abs- cbnnews . com

clifford’s

Daily HOROSCOPE AQUARIUS (January 20 – February 18) - You are moving through molasses today, and just can’t get anything important done. There’s nothing wrong with that -- you need to take a break sometimes, and this is just your signal.

PISCES (February 19 – March 20) - You need to withstand the rush of fear that creeps over you as you head into that big meeting or go out on that date -- it’s just the part of you that wants to fail. You’re stronger than it is!

ARIES (March 21 – April 19) - You are slowing down somewhat -- but it’s not permanent. Your energy is perfect for thinking about big issues and making sure that you are on the right path.

Things are looking up!

TAURUS (April 20 – May 20) - You’re deeply passionate about something or someone, and today brings that to the surface in a way that you can’t deny. Make sure that you are doing whatever it takes to be true to yourself.

GEMINI (May 21 – June 21) - Your emotional side is really wild today -- and you need to make sure that you’re paying attention! It’s a good time for you to ask yourself what you really want and how you can get it.

CANCER (June 22 – July 22) - This is a great day to take care of emotional or spiritual matters -- but not so much for business or worldly plans.

Avoid signing anything or tackling any home improvement projects until tomorrow.

MANILA – Petron Blaze ended R a i n or Sh i ne’s reign and nurtured its own hope to reclaim the PBA Governors Cup crown with an overpowering third quarter that propelled the Boosters past the E-Painters and into the finals versus the San Mig Coffee Mixers at the Smart Araneta Coliseum Monday night.

Elijah Millsap and his teammates slammed the Elasto Painters with a 16-0 opening salvo in the second half and roared to a 11089 win that sealed their

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CIRCLE A WORD sports action

airm back stroke endurance exercise fight foul kick knockout lap loop

officiate dive dibble drive eagle race recovers referee ride rules

run rush score serve pass pitch punch putt strike swing

tackle throw toss touch down down train uppercut slice slide smash

since their titular faceoff in the same conference 13 years ago. The then Derrick Brown-reinforced Purefoods squad topped the Lamont Strothers-led San Miguel Beer team, 4-1, for the crown.

Millsap and Alex Cabagnot came out firing from the halftime huddle then Marcio Lassiter took over in the fourth quarter as the Boosters finished off the E-Painters in Game Four of their best-of-five semis duel.

“You have to give it to them too. They pushed as to showdown/PAGE 23

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first finals in the last six conferences.

“We can dream big now,” said Gee Abanilla, steering Petron to the best-of-seven finals in his first conference as bench chieftain of the team.

“We’re living a dream.

It’s a good opportunity and we should never stop here,” Abanilla also said.

In det hroning t he E-Painters, Abanilla and his troops set up a title showdown with coach Tim Cone and his chargers.

It’s a first championship duel between the two teams

speed basket bat birdie bounce catch chip dash defence

Following Daniel Domscheit- Berg (Daniel Brühl), an early supporter and eventual colleague of Julian Assange (Benedict Cumberbatch), the movie The Fifth Estate traces the early days of WikiLeaks, culminating in the release of a series of controversial and histor y changing information leaks. The website’s overnight success brought instant fame to its principal architects and transformed the flow of information to news media and the world at large.

T h e d o cu m e nta r y We Ste a l Secrets: The Story of WikiLeaks bombed at the movie box office during its theatrical release in May 2013.

However, this movie, The Fifth Estate, is from Dreamgirls and Breaking Dawn director Bill Condon. So, who knows? It may make a few bucks.

The quite hideous looking Benedict Cumberbatch, or Cumbersnatch, as he is referred to by friends, is a dead ringer for the equally as creepy looking real life Julian Assange.

THE FIFTH ESTATE release date : october

18, 2013

SUDOKU How to play the game?

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

of the same digit.

Yesterday’s Answer

LEO (July 23 – August 22) - Someone is pretending to look out for your interests -- ferret them out and your life should get a lot better almost overnight! It’s a really good time to ask big, difficult questions.

VIRGO (August 23 – September 22) - It’s time to go more in-depth -- whether that means into a book you’re reading, someone you’re seeing or a career path you’re considering. Take it as far as you can go and see if you like it.

LIBRA (September 23 – October 22) - Today brings at least one big change -- but you don’t have to worry about whether or not it’s going to make a real difference in your life. That’s a given, so all you have to do is focus on the positive.

SCORPIO (October 23 – November 21) - People are drawn to you more intensely than usual -- which could have a downside, if you have to prioritize them and leave some out in the cold. Try not to instill any grudges!

SAGITTARIUS (November 22 – December 21) - Turn inward and think hard about what you really want. Your energy is not meant for external use on a day like today, so focus on your spirituality and emotional nature and see what pops up.

CAPRICORN (December 22 – January 19) - Try to see things from an objective standpoint today -- it shouldn’t be too tough. In fact, you can probably solve a hard problem that has been nagging at you for months or even years.

Amazing Facts!

Did you KNOW?? ..

Iceland is a 39, 000 square mile island that is built of lava from volcanoes. Major eruptions occur every 6 or 7 years. Almost 1/3 of the worlds lava output since 1500 has poured out onto Iceland.

CROSSWORD puzzle across 1. Egg-shaped 10. Florante’s love 11. Panama or Suez 13. Poker stake 14. Not frigid 15. Exist 16. Golf peg 17. Enjoyable 18. Body of water 19. Plural ending 20. Lie 21. Frigid 22. Container 23. Cattle animal 24. Give caution 26. Witch 27. Tantalum’s symbol 29. Ms. Mina 30. Period 31. Milk cap toy 32. Caller_

33. Allow 34. Mafia don title 35. Misplaces 37. Type of situation 38. Elasticity DOWN 1. Enliven 2. Paths 3. Stringed instrument 4. Anger 5. Father 6. Clickable picture 7. Feline 8. Article 9. Tag 12. Metallic element 14. Center 17. Biblical fruit 18. Spread 20. Devotee 21. Component 22. Chest wear

23. Isle 24. Cry 25. Passion 26. Headgear 27. Subject 28. Extreme pain 30. Lucy’s husband 31. Chess man 33. _Miserables 34. Sebastian the runner MP 36. Opposite of NW 37. Nickel’s symbol Yesterday’s Answer

Mindanao Daily 23 NEWS

wednesday | October 9, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Aboitiz... from page 13

company’s local business taxes will be shared by the two LGUs, AboitizPower proposed that “70 percent of taxes shall be shared equally by Davao City and Davao del Sur.” “To resolve the issue as early as now, we are proposing that the 70 percent of taxes shall be shared equally by Davao City and Sta. Cruz,” TSI President and Chief Operating Officer Benjamin A. Cariaso Jr., and Manuel M. Orig, first vice president for Mindanao Affairs of the AboitizPower, said in their letter.

Both Cariaso and Orig said they “based our proposition to the similarly situated case of San Roque Power Corp. in Pangasinan in respect of the allocation of the local business taxes which was decided by the Bureau of Local Government Finance under the Department of Finance” on August 2004.

Following the BLGF’s decision, which is based on Section 150 of the LGC, Davao City will get up to 65% of TSI’s taxes Section 150 of the LGC states that “(a) for purpose of collection of taxes under Section 143 of this Code, manufacturers, assemblers, repackers, brewers, distillers, rectifiers and compounders of liquor, distilled spirits and wines, millers, producers, exporters, wholesalers, distributors, dealers, contractors, banks and other financial institutions, and other business, maintaining, or operating branch or sales outlet elsewhere shall record the sale in the branch or sales outlet making the sale or transaction, and the tax thereon shall accrue and shall be paid to the municipality where such branch or sales outlet is located. In cases where there is no such branch or sales outlet in the city or municipality where the sale or transaction is made, the sale shall be duly recorded in the principal office and the taxes due shall accrue and shall be paid to such city or municipality.”

Further, the LGC states: “(b) The following sales allocation shall apply to manufacturers, assemblers, contractors, producers and exporters with factories, project offices, plants, and plantations in the pursuit of their business: (1) thirty percent of all sales recorded in the principal office shall be taxable by the city or municipality where the principal office is located; and (2) seventy percent of all sales recorded in the principal office shall be taxable by the city or municipality where the factory, project office, plant, or plantation is located. (c) In case of a plantation located at a place other than the place where the factory is located, said seventy percent mentioned in subparagraph (b) of subsection (2) above shall be divided as follows: (1) sixty percent to the city or municipality where the factory is located; and (2) forty percent to the city or municipality where the plantation is located. (d) In cases where a manufacturer, assembler, producer, exporter or contractor has two or more factories, project offices, plants, or plantations located in different localities, the seventy percent sales allocation mentioned in subparagraph (b) of subsection (2) above shall be prorated among the localities where the factories, project offices, plants, and plantations are located in proportion to their respective volumes of production during the period for which the tax is due.”

According to Cariaso and Orig, Davao City Mayor Rodrigo Duterte and Sta. Cruz, Davao del Sur Mayor Joel Ray Lopez have both agreed to their proposal.

Tuna...

from page 13 as the Western and Central Pacific Fisheries Commission (WCPFC).

Passed as one of the congress resolutions during the 15th National Tuna Congress held here recently, the proposed committee will provide the Philippines a stronger presence in the WCPFC as the country lobbies for fishing access in view of the coming multi-year management program for Bigeye, Yellowfin, and Skipjack tuna from 2014 to 2017.

WCPFC establishes measures to ensure long-term conservation and sustainable use of highly migratory fish stocks like tuna in the Western and Central Pacific Ocean. As it convenes its 10th regular session in December this year, new or enhanced measures are expected to replace interim conservation measures currently being implemented.

During the 9th WCPFC regular session held in Manila in December last year, the national government sent a delegation led by Mindanao Development Authority (MinDA) Chair Luwalhati Antonino and Bureau of Fisheries and Aquatic Resources (BFAR) Director Asis Perez to lobby for the approval of the Special Management Area (SMA), which sought fishing access to Pacific High Seas Pocket 1.

The commission approved the SMA allowing 36 traditional icechilled boats from the Philippines to fish in the high seas pocket 1 for one year, boosting the country’s commercial fish production and revitalizing the tuna industry that has been sagging since the tuna ban was imposed in 2008.

“Based on our experience last year, we realized that we must exert a strong and united presence in the WCPFC to ensure our tuna industry gets its rightful share from this global resource and protect the gains of the industry,” said Sec. Antonino in her keynote speech at the congress.

The Tuna Congress resolution cites that while the country successfully lobbied for fishing access in the 9th WCPFC, there is yet no permanent body to officially represent the Philippines to the succeeding regular sessions of the commission and to other conventions of Regional Fisheries Management Organizations (RFMO).

Hence, it stressed the compelling need to create a permanent body that will serve as the Philippine representative to the WCPFC that will carry forth the interests of the tuna industry as the commission convenes in December this year to discuss the multi-year management program for tuna stocks.

The Philippine Committee for the Advancement of Migratory Fisheries is proposed to be coheaded by the Department of Agriculture secretary and the MinDA chair, with the Bureau of Fisheries and Aquatic Resources as secretariat. It shall have highlevel representation from the Department of Foreign Affairs, Department of Trade and Industry, and industry players as well.

Sec. Antonino expressed full support to the creation of the committee, citing current global issues on fisheries having impact on the country’s tuna industry. Commercial fish production in the country’s tuna

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

capital, SOCSKSARGEN region, has suffered a setback since the tuna ban, posting a dismal performance of negative 37.94 percent in 2011.

She also spoke of opportunities in the light of the country’s integration to the bigger ASEAN Economic Community in 2015, citing strategies and vital programs to make Mindanao more competitive in the ASEAN community. One such strategy is intra-regional connectivity within ASEAN and BIMP-EAGA through the establishment of the DavaoGeneral Santos-Bitung RoRo operations in the last quarter of this year.

Filipino tuna traders based in Bitung, Indonesia, and tuna processing facilities and canneries in General Santos are expected to gain from this linkage that will make shipment of goods to and from China cheaper and faster, cutting down the original cost of US$ 1,200 per twenty-foot equivalent unit to only US$ 900 TEU. Antonino also announced that the Philippine Economic Zone Authority has already released the Certificate of Concurrence for the GenSan Economic Zone. Tuna processors are seen to benefit from this 46.77-hectare special economic zone in Tambler where manufacturing and processing plants are located.

Another strategy is the development of export gateways and growth corridors that will strengthen Mindanao’s local supply chain system and make its industries more efficient and competitive by linking interprovince and inter-city road networks and undertaking ports improvement across its regions.

“For the Southern Mindanao Economic Cluster for example, we will refurbish the road networks to the Davao-General Santos City export gateway so that our tuna processors and key industry players have enhanced access to potential international markets,” she added. (PNA)

No more...

from page 13 longer renewed after their last quarterly contract expired on Sept. 30.

He said that in the five years of their existence the female traffic enforcers, as deputies of the Land Transportation Office (LTO), had focused more on apprehensions instead of educating the public on traffic rules.

“It defeats the purpose of having them, which is to help hasten the traffic flow. Basically [their job is] to educate the public,” he added.

Lagamon cited there were several complaints of alleged irregularities by the traf fic enforcers which are being investigated by the provincial discipline committee.

He said Gov. Jose Ma. R. Zubiri Jr. may retain those who would be found to have committed no irregularities and if they fit available positions in the provincial government.

Lagamon said his proposal was to keep the qualified personnel under the Civil Security Unit and make them focus on traffic education.

In 2008, the traffic enforcers were hired in response to Bukidnon’s reputation as the province with the second highest number of highway accident mortality in the country.

The ‘yellow ladies” were hired after previous schemes, like deputizing personnel from the police and other government

agencies failed to address the problem.

In 2009, Arthur Ranque, an LTO official who led the female traffic enforcers, said drivers and vehicle owners became more conscious about vehicle registration and other regulations.

He attributed this to the increase in the apprehensions of violators since the last quarter of 2008.

As of March 2009, the women enforcers had caught a total of 1,119 violators and impounded 59 vehicles. But drivers also became angry at them and complained that some of them were arrogant.

But Ranque said the women were just trying to be polite and firm at the same time, adding even politicians and police officers were also stopped for violations.

He said some politicians or influential persons lobbied at the Capitol for exemption or to tell the governor that the “yellow ladies” should be reprimanded for alleged arrogance, “but nobody was exempt from the law. The governor was fair about it.”

Showdown...

from page 22 the limit. Despite all their health woes, they fought as tooth and nail in the series,” said Abanilla.

He saved his best words for coach Yeng Guiao, saying: “Aside from the leadership I learned from coach Yeng, I also learned to be competitor from him. Dapat 101 percent kung pu-pwede.

The two teams fought through close battles in the first three games of the series.

They were again engaged in a neck-and-neck battle before Millsap and Cabagnot starred in their blazing start in the second half.

Then Lassiter bombed away big 3-pointers as the E-Painters waged mini-fightbacks in the payoff period.

Petron gained its 27th finals overall with a shot at a 20th title.

Millsap tossed in 18 points in the third period and finished with 34 that went with eight rebounds and three assists, Lassiter fired a total of seven treys (career-high) and ended up with 27 points and 12 rebounds, while Cabagnot added 23 markers, eight assists, four boards and two steals.

“I just felt it. When the first went it, I just kept on shooting. It’s a good night to shoot the lights,” said Lassiter.

The Boosters went 5-of-5 from the field and 3-of-3 from the stripe – with no turnover – in their 16-tonothing run breaking the game open at 62-40.

Petron stretched the lead to 25 at 70-55 but Rain or Shine still refused to give up.

As the E-Painters came to within 10 at 80-70, Lassiter fired back-toback treys to ease the pressure.

Usually efficient with an average of just 14.3 errors a game (tournament best), the E-Painters gave away 15 just in the first half in this match and stared at a six-point deficit, 40-46, at the turn.

The E-Painters battled the Boosters through five deadlocks and 12 lead changes before fading away.

Arizona Reid knocked in a trey then ran a fastbreak play for Ryan Arana as Rain or Shine took the opening quarter at 25-24.

The scores: Petron 110 – Millsap 34, Lassiter 27, Cabagnot 23, Fajardo 9, Santos 8, Lutz 2, Kramer 2, Miranda 2, Tubid 2, Lanete 1, Isip 0.

Rain or Shine 89 – Reid 41, Belga 10, Arana 9, Quinahan 7, Norwood 6, Tang 5, Ibanes 5, Tiu 3, Matias 3, Uyloan 0, Cruz 0, Chan 0.

Quarterscores: 24-25, 46-40, 80-65, 110-89. abs-cbnnews.com

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

EDITOR: Shaun Uy , e-mail: shaun_alejandrae_uy@yahoo.com

Living Below Your Means:

Billboard

wednesday | October 9, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Align your life goals with Personal Financial Planning A

re you having trouble keeping up with your credit card payments? Not earning enough to qualify for your dream house?

During an episode on ANC’s On the Money last October 9, 2012 hosted by Edric Mendoza and Melissa Gecolea entitled “Living Below Your Means” (http://www.youtube.com/ watch?v=r4bVMJnTEYY) Guest Rolando A. Robles explained people’s penchant to make life altering decision involving their future on the spur of the moment.

“If you want to buy expensive things you don’t need, save for it and pay in cash,” Mr. Robles, who is a Registered Financial Planner (R.F.P.) noted. “Once you have the money, you often realize you really don’t need it and you’re over the urge to buy what you don’t really need.”

In reply to an inquiry from a viewer on her penchant for splurging on pampering herself whenever she was stressed, Mr. Robles advised her to call or bring in a friend.

“People in stressful situations usually don’t think straight. Get a friend to stop you from spending

WRITECONSULT Consultancy Services

mindlessly. If you’re alone, you may not be able to stop yourself. If you’re under stress you normally would not think straight. And if this is how you relieve yourself, you will definitely spend and later on realize you overspent.”

The main thing is to tame that beast within all of us which says I want this and I want this now, he added. “The key to living below your means is to defer unnecessary expenses.”

“Living within your means is understanding what you should spend for. If you can’t afford to pay for it in cash, chances are you can’t afford it.

Living within your means requires sacrifice.”

“We all have dreams and aspirations for the future. Many go through life hoping they will achieve these goals as they go along. But a significant number fail to achieve their life goals,”Mr. Robles said. “We are sure they did not plan to fail.

They only failed to plan.”

Understand you have goals you want to satisfy and these goals take precedence over unnecessary expenses you want to do today.

Correlate everything you do with

your higher goals in life. We always have choices, we just need to dig deeper to find what we want without going into debt.

Mr. Robles is one of the two speakers for Write Consult’s Personal Financial Planning Workshop scheduled on Saturday, October 12, 2013 from 8:30am-5:00pm at Seda Centrio, Cagayan de Oro City.

“This workshop will help you visualize your life goals and align the financial means to attain them,” said Mr. Robles. “This will be especially useful for young families who are planning to go into business or expand an existing one, planning to invest in a new house or thinking of going on a vacation abroad and who about to undertake similar major lifecycle events.”

“There are choices, there are options, and you will be surprised and amazed to find out that there are options out there that will enable you to get what you want with just equally good results than if you were to do what you thought which is to get into debt just to get what you want,” Mr. Robles noted.

What are the real motives for your decisions? You may be surprised.

The one-day seminar-workshop will explain how the personal financial planning process works, analyze a family’s financial fitness, identify and prioritize a family’s life goals, identify issues that can deter them from attaining their financial goals, understand and comprehend the various financial products and investment instruments that are available to help them attain their long-term goals, and learn how to craft a Personal Financial Plan.

Mr. Rolando A. Robles, R.F.P is a Registered Financial Planner with over 30 years experience in the country’s top insurance and asset management companies, He will be joined by Mr. Roderick T. Enriquez, one of the country’s top banking professionals with a sterling record of over 20 years in five of the country’s Top 5 banks who was graduated with distinction from top universities in Japan and Hawaii.

Discounts for couples and groups of five or more are available. For further queries or reservations, please contact mobile #s 0917-7148484 / 0999-998-4980 or email write.consult74@gmail.com.

in association with ALSO BROUGHT TO YOU BY

presents

ALIGN YOUR LIFE GOALS WITH PERSONAL FINANCIAL PLANNING Going into business? Expanding production?

Planning to buy a house or car? Thinking of going on a vacation abroad?

We all have dreams and aspirations for the future.

Many go through life hoping they will achieve these goals as they go along. But a significant number fail to achieve their life goals. We are sure they did not plan to fail. They only failed to plan.

That is why we are inviting you to attend the Personal Financial Planning Workshop to help you visualize your life goals and provide ways to attain them on Saturday, 12 October 2013 from 8:30AM to 5:00PM at Seda Centrio Hotel, Cagayan de Oro City.

How the personal financial planning process works: - Analyze your financial fitness - Identify and prioritize your life goals - Identify issues that can deter you from attaining your financial goals - Understand and comprehend the various financial products and investment instruments that are available to help you attain your long-term goals - Learn how you can craft your Personal Financial Plan.

Discounts for couples and groups of five or more. Early bird discount for those who register on or before Saturday, 05 October 2013.

LEARN FROM TWO OF THE COUNTRY’S BEST FINANCIAL ADVISORS! ROLANDO A. ROBLES, R.F.P.

RODERICK T. ENRIQUEZ

Mr. Rolando “Rolly” A. Robles has been involved in the life insurance and asset management for over 30 years. He has been part of the senior management teams of some of the Philippines’ leading life insurance companies. He was also responsible for setting up the asset management company that introduced a now popular family of mutual funds. At present, he is Senior Vice President of a leading life insurance firm.

While his work is focused on leading and managing distribution systems of financial institutions, his advocacy is to improve the financial literacy of the general public. As a Registered Financial Planner (RFP), he is one of the early proponents of personal financial planning in the country.

He has guested in various TV programs to speak on financial literacy and investments, the latest in ANC’s “On the Money” for the episode “Living Below Your Means.”

Visit this link: http://www.youtube.com/watch?v=r4bVMJnTEYY

Mr. Roderick “Rod” T. Enriquez has a sterling track record of over 20 years with five banks all over the country. He earned his Master of Business Administration with academic distinction from the Globis University of Tokyo, Japan where he distinguished himself as the first ever international student accepted from overseas under the Globis International Leader Scholarship. He was also the recipient of a Postgraduate Diploma with Highest Distinction from the JapanAmerican Institute of Management Science in Honolulu, Hawaii under the Fujitsu Asia-Pacific Scholarship Program. He is currently area head of one of the top 5 banks in the country.

For further queries or reservations, please contact :

WRITE CONSULT Consulting Services, Mobile # 0917-714-8484/0999-998-4980 Email: writeconsult74@gmail.com

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