Page 1

Volume IV, No. 13

BusinessWeek MINDANAO


Market Indicators

As of 6:15 pm Sep. 12, 2013 (Thursday)



US$1 = P43.89

6,195.61 points

10 cents


19.29 points


Briefly Mining permits THE Cagayan de Oro City Council committee on environment and natural resources stressed the need to continue to find ways to strengthen the city’s campaign against illegal mining activities. During the recent meeting, Councilor Zaldy Ocon, chairman of the Cagayan de Oro City Council committee on environment and natural resources, said he will be filing a proposed measure which will require applicants of smallscale mining and quarrying to submit their documents to the committee. Ocon said he has proposed this so that his committee can thoroughly scrutinize their applications. From the committee these will be submitted to the City Local Environment and Natural Resources Office (CLENRO) and to the City Mining Regulatory Board, he said.

Road network DAVAO City -- The Department of Tourism in Region 11 and three other government agencies in the Davao Region will construct a road network in support to tourism development in the island of Mindanao. DOT regional director Art Boncato said the Department of Public Works and Highways (DPWH), Department of Environment and Natural Resources (DENR) and the Department of Trade and Industry (DTI) will coordinate in the implementation of the program. Dubbed as “Destination Mindanaw”, DOT-11 has teamed up with Davao Metro Shuttle Bus Company for the tour program. This will be formally launched on September 19.


September 13-15, 2013

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Mindanao consumers to get P1.659B refund F

By MYRNA VELASCO, Contributor

OR a change, the Power Sector Assets and Liabilities Management Corporation (PSALM) is applying with the Energy Regulatory Commission (ERC) to refund some P1.659 billion worth of over-recoveries to Luzon and Mindanao electricity consumers.

POWER REFUND. A consumer paying his electric bill at a counter of the Cagayan Power and Light Co., Inc. (Cepalco). As soon as the Energy Regulatory Commission (ERC) approves the refund of P1.659 billion from overrecoveries, it will be reflected in the bills of Mindanao and Luzon consumers. (

The payback amounts account for the true-up adjustment of fuel and purchas ed p ower costs (TAFPPC) of sp ecif ied power plants and true-up of foreign exchange related costs (TAFxA).

For Luzon customers, the applied refund will be P0.2068 per kilowatt hour (kWh); and for Mindanao end-users, it was calculated at P0.0506 per kWh. For Visayas customers, it will be a reversed scenario

as they might see an increase of P0.0778 per kWh in their electric bills, also on account of such cost recoveries. PSALM has sought the ERC’s provisional approval for it to immediately implement the refund process, which it proposed to be stretched over five years. The calculated refund amounts were reckoned from January to December 2012. For Luzon grid, the estimated over-recoveries amounted to P470.163 million for fuel and purchased power refund/PAGE 11

Exec: Hydropower costs cheaper than Minergy’s planned coal-fired plant By BWM News Bureau

A FORMER senior official of Cagayan Power and Light Co., Inc. (Cepalco) yesterday sounded alarm that the proposed coal-fired power plant by the Mindanao Energy Systems. Inc. (Minergy) could result to higher rates than the environmentally-friendly hydro power energy. T h i s i s c ont r ar y t o Cepalco’s contention that the establishment of the coalfired power plant could bring down power rates within its franchise area, said Engr. David A. Tauli, Cepalco’s former senior vice president for Engineering in a statement sent to Business Daily. Tauli also accused his former employer and the Minergy of betraying the

legacy of their late Chief Executive Officer (CEO) Ramon C. Abaya to brand the company as champion for renewable energy. A subsidiary of Cepalco, Minergy is an independent p ow e r pro du c e r [ I P P ] established in 1992 and is the first Independent Power Producer (IPP) in the region to sell power directly to a private distribution utility. The company has sought t he Energ y R egu l ator y Commission (ERC) approval for a provisionary rate to enter into a power supply agreement with a 110 megawatt (MW) coal-fired power plant to start operating in Balingasag, Misamis Oriental by 2018. cheaper/PAGE 11

BOUNTIFUL TUNA. Fresh tuna file-up in a fish landing in General Santos City ready for pick-up for export. mindanews file photo

64% rise in tuna exports seen next year GENERAL Santos City (MindaNews)— The countr y’s canned tuna exports to the European Union (EU) are seen to increase by about 64 percent by next year once it gains duty-free access to the

Mindanao Daily NEWS

28-nation trade bloc under the enhanced Generalized Scheme of Preferences or GSP Plus program. Francisco Buencamino, executive director of the Tuna Canners Association of the Philippines (TCAP),

said the projected increase in canned tuna’s export v o lu m e t o t h e E U i s equivalent to around 2 million cases based on last year’s total shipments of 3.202 million cases. tuna/PAGE 11

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RETURNING TO CORPORATE ROOTS: AirAsia suspends Villar takes Vista Land chairmanship most flights out of Clark Manny Former Senator Manuel B.

THE Philippine unit of Southeast Asia’s largest budget airline will suspend most of its local and regional flights out of Clark. According to a source, Air Asia Philippines flights to Davao, Kalibo, Hong Kong

and Taipei from Clark will be suspended by November. However, Hong Kong and Taipei flights will resume by December, the source said. Sought for comment, Marianne Hontiveros, chief Suspends/PAGE 10

Villar is taking a more active role in managing Vista Land & Lifescapes Inc, a real estate company he founded in the early 1970s. In a disclosure to the Philippine Stock Exchange, Vista Land said Villar was elected as director and chairman of the company’s board in a meeting on Wednesday, replacing Ricardo B. Tan Jr and Marcelino C. Mendoza, respectively. About four decades ago, Villar started Camella Homes and managed the company over the years to become the country’s largest homebuilder Vista/PAGE 11

Habagat’ slows down auto sales in August THE fewer selling days because of the heavy monsoon rains that hit Luzon last month slowed vehicle sales, but year-on-year sales bucked the trend amid a historically slow-selling season. Data showed that the combined sales of auto companies belonging to the Chamber of Automotive Manufacturers of the Philippines Inc (Campi) and the Truck Manufacturers Association (TMA) in August reached 13,700 units, down 12.7 percent from the 15,656 sold in July. In a statement, Campi

president Roque Rommel T. Gutierrez attributed the car month-on-month sales decline to the shorter number of business days for vehicle sellers, as the torrential rains and flooding during the third week of last month crippled most of Luzon. Still, sales in August this year were up 20.7 percent from the 11,351 sold in the same month last year. The year-on-year increase “indicates the continued st rong p er for mance of the [automotive] sector,” Gutierrez said, saying that August has been traditionally

regarded as a “ghost” month for the consumer market, as major purchases, including of vehicles, are being delayed in anticipation of the holiday shopping season. At end-August, Campi and TMA members sold 116,617 units, 18.1-percent more than the 98,725 sold in the same eight-month period last year. “ The indust r y s a les have grown an average of 21 percent during the first eight months on a monthly year-on-year comparison. This makes us confident about meeting our revised

target of 210,000, which is only 15-percent higher than the total 2012 industry sales of 182,000 units,” Gutierrez said. The 210,000-unit sales target include those of car companies belonging to the Association of Vehicle Importers and Distributors Inc (AVID), which releases a separate sales report. In the first eight months, sales of passenger cars rose 28.5 percent to 38,223 from 29,745 last year. Sales of c om m e rc i a l v e h i c l e s — comprised of Asian utility Habagat/PAGE 11

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4 RCBC partners with S&P unit

september 13-15, 2013

RIZAL COMMERCIAL Banking Corp. (RCBC) has forged a partnership with a unit of Standard & Poor’s to provide the bank with financial information and help it assess credit risks. The Yuchengco-led bank will adopt S&P Capital IQ’s Risk Solutions Scorecard that measures the credit risk of counterparties, RCBC said in a statement Wednesday. It will allow RCBC to better evaluate corporate borrowers by studying the scores of private, publicly traded or rated companies of any sector, size and location in Asia, it added. S&P Capital IQ is a

provider of real-time data, research and analytics of various assets -- a complement to the credit rating assessment system of its parent firm, Standard & Poor’s. “Regulation and capital efficiency are some of the major factors driving the adoption of effective credit risk modeling in the country,” Regino V. Magno, RCBC chief risk officer, said in the statement.

“The addition of S&P Capital IQ’s Risk Solutions Scorecard allows us to be on the forefront of today’s evolving credit market and regulatory environment.” Moreover, she said, the scorecard will help RCBC identify and manage any risks in its lending portfolio to reduce non-performing loans. RCBC’s loan portfolio grew by nearly 5% in the first semester to P199.24 billion. Of this, non-performing loans -- obligations unpaid at least 30 days after their due date -- made up just 0.51% of the total loans.

A RENEGOTIATED version of an agreement covering double taxation so that entities are not taxed twice on the same item and to enhance fiscal and revenue administration was recently signed by Manila and Berlin, the Department of Finance said Thursday. In a s t at e m e nt , t h e department said the Agreement for the Avoidance of Double Taxation with respect to Taxes on Income and Capital was signed in B erlin, G ermany on September 9. The Philippines was represented by Finance

Secretary Cesar Purisima, while Germany was represented by Ambassador Mar t i n Ne y, t he L e g a l Adviser to the German Foreign Ministry. “By signing this, we also renewed the commitment between both of our countries to promote tax transparency as an international priority, and to help each other fight tax evasion in our respective jurisdictions,” Purisima was quoted as saying in the statement. The agreement is expected to promote international trade and investment by ensuring that

entities are not subjected to tax in on the same items in both Germany and the Philippines. Sharing tax information will also enhance the ability of tax administrators to monitor fiscal performance and revenue collections. In terms of dividends, the new agreement lowers preferential tax rate on dividends to 5 percent from 10 percent for companies w hich ow n at le ast 70 percent of the shareholdings in a paying company. A lower interest rate of 10 percent from 15 percent is applied, unless exempted by

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Germany, PHL sign amended double taxation treaty BSP keeps interest rates the respective governments. Interest covering the sale on credit of commercial or scientific equipment and of enterprise-to-enterprise transactions on credit are now taxable only in the beneficial owners residence State, and not anymore taxed in the source country. A levy of 10 percent still applies. For royalties, a single lower tax rate of 10 percent is applie d w it hout any exemption.

steady, cuts forecast

THE Bangko Sentral ng Pi l ipi n a s ( B SP ) on Wednesday kept its interest rates steady, but lowered its inflation forecast for the year. In a meeting on Thursday, the BSP’s policymaking Monetary Board decided to retain overnight b or rowing and lending rates at record lows of 3.5 percent and 5.5 percent, respectively. The special

dep osit account (SDA) rates likewise were left untouched at a uniform two percent. BSP Governor Amando M. Tetangco Jr. said the inflation forecast was cut because of the lower-than-expected price increase last month, as well as the delay in the implementation of rate hikes for power, water and Metro Rail Transit Line 3.

PDIC continues to pay depositors, creditors of Unitrust until October 7

THE Philippine Deposit Insurance C or p orat ion (PDIC), the Liquidator of the closed Unitrust Development Bank (Unitrust), announced that it will continue to release cash payments to the depositors and creditors of Unitrust until October 7, 2013. The cash payments represent the partial settlement for the claims of the Unitrust depositors and creditors against the assets of the bank. The PDIC started cash p ay m e nt s on Mon d ay, September 9, 2013. The payments should be claimed personally by the depositors and creditors or their duly

authorized representative at the Unitrust Development Bank Exchange C orner located at the Ground Floor, Exchange Corner Complex Condominium, Exchange C or n e r Bu i l d i ng , V. A . Rufino St. corner Esteban and Bolanos Sts., Legaspi Village, Makati City, on their designated schedule. The schedule of release of payment and requirements are posted in the PDIC website, Meanwhile, the Liquidation Court has set another hearing on Friday, S eptemb er 13, 2013 at 8:30AM at the Regional Trial Court of Makati City, Branch

59, to discuss the content of the Release, Waiver and Quitclaim, With Undertaking to be accomplished by the depositors and creditors of Unitrust. The Liquidation Court had earlier directed the Unitrust depositors and creditors “to agree to the proposed allocations of their interests in the real properties as payment equivalent to 38% of their respective claims” and “to execute their respective quitclaims and waivers once all their claims have been fully-settled.” In the hearing on September 10, 2013, the PDIC PDIC/PAGE 10

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Supplements: Friend or Foe (Last of Two Parts)

Use It or Lose It



hink a minute…Have you ever owned something A Minute quite valuable and useful, By Jhan Tiafau Hurst yet you ended up not using it much? There’s a story about a preacher who was talking with the owner of a factory that made soap. The soap maker said to the preacher: “This message about Jesus Christ that you preach cannot be very good, because there are still many bad people around.” The preacher saw a child nearby covered with dirt. So he said to the soap maker: “Your soap cannot be very good, because there are still a lot of dirty people.” The soap maker replied: “Well, my soap can only clean when a person uses it!” The preacher said: “Yes, you’re right. It’s the same way with the Bible and Message about Jesus Christ.” You see, just like soap is not worth having if we don’t actually use it, it’s the same with the Message about Jesus Christ and new life He gives us who ask Him. Unless we then live it every day, it’s useless to us. The Bible is our Maker’s manual to show us how to live the right, successful way He designed it to work. So we not only must read and understand Jesus’ Message every day, we must follow it every day to start changing and living the satisfying life He plans for us to enjoy. Jesus said that even if we go to church, give money, and pray, but in our heart we’ve not started changing and becoming more like Him in our character, then we don’t really belong to Him and have His new life. For example, if we’re not honest, or we won’t obey Jesus’ command to forgive people who have wronged and hurt us, then we’re proving we do not truly know Him personally and have a relationship with Him. So if Jesus’ written Manual for our life is not His living Message in our life, then we’re completely wasting the Bible and making it useless to us. So why not start actually using and living the new life hurst/PAGE 10

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roducts that are endorsed should have the correct and truthful data in it. I believe that the companies should make it top in their list for their marketing guys. There are instances where the endorsers of the products are medical doctors, and I would say, that there is nothing wrong with that. Provided that, they forget not their Hippocratic oath “ primum non nocere “ ( FIRST, DO NO HARM ). It is good practice for our friends in the field, that, before accepting any products that they will be endorsing, that they must go back to the basics: the products must have undergone rigorous scientific testing, which means clinical trials and extensive laboratory testing has been performed, in order for the study design to be conclusive. A Doctor endorser is very powerful in convincing people to taking in the supplements and other products, thus, it makes the endorser more conscious in his/her statements regarding the product. It is also to the patient’s good, if, he/she is advised to continue on with their current medications and not to miss his/her follow up with his/her Specialist. I would always remember one beloved professor in medical school where he would share with us, upcoming physicians, to respect the wishes of our patients.


Wi t h r e s p e c t c o m e s the responsibility to give I n Focus the different options and By Dr. Mary Jean Loreche explaining their benefits and disadvantages. My suggestions to the user on one hand are very simple. Use only products that have a proven efficacy like vitamins, iron, iodine and fish oils. B e w are of marke t i ng products as “ CURE “ more so if it is endorsed as a “ MIRACLE CURE “. Learn to think for yourself. It doesn’t mean that, if it worked for your neighbour or friend that it will be good for you too. More so, if you have an underlying illness. It is to your best interest to do your own research on the product as well as its components. Discussing it with your attending Doctor, will help you and your Doctor to check if the supplement you want to take or is already taking in, has no adverse reactions with your current medications, as there is such a thing as adverse Loreche/PAGE 10

Dealing with Successes and Failures

T’S a skill that we need to cultivate and polish as we go along in this life so full of ups and downs, surges and dips, bounces and drops. In fact, it’s an urgent necessity, what with the complicating circumstances we are having these days all over the world. We have to make sure that we remain stable and on proper course amid these oscillations, and that we can always derive meaning and lessons from any and all of them. As St. Paul once said, “all things work together for the good.” (Rom 8,28) We need to firm up our belief in those words so that we don’t get carried away by the mere workings of our feelings, passions and fashions, trends and other human and natural tendencies. The reality is much more than what these things can discern, understand and make use of. What we have to avoid is to react to our successes and failures only in a purely human way. That can only give us a very restrictive view of things and can lead us either to getting spoiled, vain and proud, or plunge us into depression, discouragement and despair. We have to be most wary of this predicament because that seems to be the prevailing situation we are in. And worse, most of us do not even realize it. Quite ironic, indeed, since at this age and time when we are supposed to be more knowledgeable and skillful, we seem to get stuck still in the primitive stage in this department. And where do we get the stabilizing element for this unavoidable predicament of ours? Obviously, from God. He is the creator, the father of all mankind, and the abiding


guide in the whole course of human history with his ever and Traces present, powerful and merciful By Fr. Roy Cimagala providence. All we have to do is to cooperate with him, to unite ourselves with him, which is a matter of knowing and loving him, his will, his commandments and ways, even if these latter aspects involve human and natural instrumentalities with their expected frailties and mistakes. We need to have faith, hope and love for God-gifts that God himself gives us abundantly but which we need to receive and cultivate properly. We just cannot depend on our common sense, our sciences and arts, our social and cultural trends, our political consensus, etc. These human powers can only be useful if they are infused with faith, hope and charity. Otherwise, they only give us a very limited view of things, and worse, can distort things and with great probability lead us to error and sin. It’s faith, hope and charity that give us a complete picture of things as well as provide and equip us with all the means we need to go through all possible situations and predicaments we can encounter in life. It’s through them cimagala/PAGE 10

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sk an ordinary person about what the Bangko Sentral ng Pilipinas (BSP) does, and the usual reply is that it produces, issues, and regulates the country’s currency. Those who know more may also mention that it supervises banks and other financial institutions with quasi-banking functions, and that it is the bank of banks and also the official depository of the national government. Still others will say that the BSP maintains an efficient payment and settlement system so that transactions between financial institutions are recorded in real time. The BSP actually does more as the Philippines’ monetary authority. It also plays a role as the government’s financial advisor. Just like individuals, governments may also need to borrow money at some point. The main source of income of the government comes from the people’s taxes. When the revenue collections are not enough, it may have to look elsewhere to get money to finance its operations, to fund economic activities, to spend at times of crisis or emergency, and also to pay for maturing obligations. The national government can borrow domestically and/ or internationally. Government corporations can do likewise. However, local government units are limited to tapping the domestic market. In any event, put together, these borrowings can be very substantial. As of May 2013, total outstanding debt of the national government amounted to P5.3 Trillion. Of that, P3.45Trillion


was sourced domestically while P1.9 Trillion was foreignO ut financed. Add to those loans, By Ignacio Bunye the several billions of debt owed by government corporations and local government units. They can affect monetary aggregates and our balance of payments. They can affect monetary and price stability. Since the Bangko Sentral is mandated by law to maintain monetary and price stability, (translation: to keep the inflation rate low and stable; to preserve the purchasing power of the peso) the national government and other government instrumentalities must seek at least the advice of the Bangko Sentral before borrowing. In the case of foreign borrowings by the national government, the concurrence (not just the advice) of the Monetary Board must be obtained. Just to be clear, the BSP’s opinion is limited to the monetary and balance of payment implications of any proposed loan. The BSP does not rule on the intrinsic merit of the project or program to be financed. That is left to the sound Bunye/PAGE 10

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september 13-15, 2013


By Anselmo B. Mercado, edited by Ismael Getubig and Angelo Mercado

Last of Three Parts

May 22 – The Return Journey Down Via the “Kipadawan Trail”


t 6:00 a.m. it was time to get up. I went out of the tent and as I was body-stretching in the open field I could see the morning sun peeping through the trees on the mountain range, subtly rising, its golden face glowing. A few meters away where I stood was “Lake Venado” lying placidly, as if in deep slumber, amidst the cool tranquility of the Apo mountain. When the rest of Apo 8 was up and about, we stood on the open field gazing at the peak far beyond and admiring all that we could see around, nature at its best. We felt good and proud for having dared to take the journey to meet the Great Apo, like a treasure hunt. We got the treasure we sought -- majestic, lordly, truly a wonder of God’s creation like Mount Everest, Mount Kitanglad, Fuji, Mayon, Kilimanjaro and others. No human creation or invention can ever surpass God’s greatness. Thank you, O Lord, for the mountains and hills, and land, water, the ocean, rivers, streams and the creatures that abound in them. They are your gifts to mankind for all people to use and enjoy. Please, Good Lord, help us to take good care of them, and to love them as you love all of us your creatures on earth. After breakfast, we began our trek down with eagerness to end our adventure and be home. We returned via the “Kidapawan Trail” on the Cotabato side. It was rainy most of the way, and we hiked down through thick cool forest along narrow winding slippery trails of wet grounds, mud, rocks, roots, deep ravines and gullies. We crossed a few running streams and also a sizeable river a few times over along the winding trail, crossing it on slippery bamboo bridges one or two persons at a time. We did not expect the going to be that difficult, but we found out the hard way. We elderly climbers felt it even more. Our legs and knees were struggling and hurting, and occasionally we were uttering sounds of pain (not of complain). But the trail was really interesting and full of the beauty of nature.

The descent to Lake Venado after having met the lordly Apo

We finally got to the “foot” of Mount Apo and there in a wooded resting area we took our last lunch break. Then we continued on our journey following a trail that snaked through wooded plains and some gentle rolls. We were told that the steep ravines and gullies were behind us. With a sigh of relief we quickened our pace until we reached a small hill. Kookie said: “That will be the concluding climb. We are almost done. At the top, on the other side of that hill, is the provincial road.” It was quite a steep climb which we had to do by stages to catch our breaths. On the way up we could see on the hillsides some hot springs smoking. We finally got to the Kidapawan highway, and with another half-a-kilometer walk, we saw a sign: “Mount Apo National Park Welcome Center”, and nearby the “Agko Mountain Resort”. We paid the entrance fees and got ourselves a table. It was 3:15 p.m., and time for an initial celebration -- some Mike: “Beautiful! Thank you Lord, for giving us bottles of cold San Miguel beer to drink, some snacks to the strength, courage, stamina and the heart eat, a refreshing dip and swim in the cold pool, and an to meet the great “Apo”, your creation." envigorating immersion in the therapeutic hot pool of natural hot spring water. A rewarding day it was! At 5:00 p.m. we boarded the “autovan”, first a brief stop in Kidapawan City to pay a visit at the Provincial Tourism Office before proceeding to Davao City. Two hours later, we arrived at the home of Atty. Jun and Charito Calamba (my brother-in-law and sister, parents of Victor). A “welcome party” was eagerly waiting for us – Tita Perrine Bernad, Jun and Charito, Celeste (my darling wife), Charieze (wife of Paolo), Martina Andrea “Aya” (daughter of Paolo and Charieze), and “Jay” (my eldest son). A round of hugs and kisses welcomed us happily and warmly, followed by a toast for a successful adventure. It was very timely that the statue of the Blessed Virgin Mary visited the home of Jun and Charito. What more could we ever ask, a grace of a presence by no less than our Blessed Mother! 8 th e Ap o And so, we prayed to thank her and the Good Lord for A ha ppy grou p, such a great blessing. Then, we went to a restaurant for a good dinner. The elderly “ganits” Mike, Lito & BoyM -- their big smile & victory sign say it all

Post Script: In an article by Fr. Miguel A. Bernad, SJ, “The Ascent of Mount Apo”, (Reference: The Great Island: Studies in the Exploration and Evangelization of Mindanao, Ateneo de Manila University Press, 2004), he wrote a historical account of the early explorations of Mount Apo. The following is a brief outline: •1852 - A tragic, fatal and failed attempt by Jose Oyanguren and party. •1870 – A Second attempt but another defeat to make it to the summit of Mount Apo by the Davao District Commander Real. •6th to 10th October 1880 – Conquest of Mount Apo by Don Joaquin Rajal y Larre with an expedition party of Filipinos, Spaniards and one Frenchman including Fr. Mateo Gisbert SJ, Dr. Joseph Montano and some Bagobos as escorts. •1881-1882 – The Schadenberg-Koch Expedition. •1888 – The Jesuit (Manila Observatory) Expedition headed by Fr. Martin Juan SJ and Fr. John Doyle SJ with Visayan and Bagobo escorts. •1892 – Fr. Eusbeio Barrado SJ explored the low areas of Mount Apo up to some 2,000 feet high from the Kabacan, Cotabato approach crossing the mountain to the Davao side, giving valuable information about the mountain. •Early 20th Century Expeditions (1900-1941) – some ten expeditions to Mount Apo and its areas: - Phelps Whitmarsh (an American correspondent) with Lt. C.O. Thomas. - Warren D. Smith’s (1907-1908) expedition that was attributed to have given the official figure of Mount Apo’s height at 9,690 feet (2594 meters). •1928 – Gutierrez-Bruns Expedition from the Cotabato side. •1939 – The Napan Trail of the 76,900 hectares Reserved Forest and National Park was established and described in detail by Ranger Rufino A. Sabado. •1941 – The Ateneo de Cagayan Ascent headed by Fr. Theodore E. Daigler SJ accompanied by three students and some Manobo guides. •Post World War II Attempts: 1948 – Charles H. Wharton; 1950 – a party of five Americans (one a woman) ascended by the Cotabato trail; Fr. Franciso Claver SJ climbed the mountain three different times. •11th April 1958 – First Holy Mass ever celebrated at the summit of Mount Apo by Fr. Miguel A. Bernad SJ, and the second Mass offered by Fr. Rodolfo Malasmas SJ attended by the expedition party that included Thomas Fitzpatrick SJ, Rodolfo Villarica, etc. and some Manobos.

A moment of prayer at the grotto of Holy Mother Mary and the Infant Jesus

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Mr. Ryan Cayabyab onstage for the Philpop Musicfest Songwriting Workshop with the Maestro at the Rodelsa Hall, September 11. Photo by Shaun Alejandrae Yap Uy

Students and musicians listen eagerly to Ryan Cayabyab as he lectures on songwriting and composition during the Philpop Musicfest Songwriting Workshop with the Maestro at the Rodelsa Hall, September 11. Photo by Shaun Alejandrae Yap Uy

Ms. Patricia Hizon, Associate Executive Director of Philpop Musicfest Foundation, Inc. shares the objectives of the workshop and invites participants to pass original songs for the Philpop Musicfest Song Competition. Photo by Shaun Alejandrae Yap Uy

Composer of Daniel Padilla's hit, Na Sa 'Yo Na Ang Lahat and Philpop Finalist, Jungee Marcelo. Photo by Shaun Alejandrae Yap Uy

CEB celebrate the arrival of its brand-new Airbus A330


e W s s e n N i A s u D B N I M (from left) CEB President and CEO Lance Gokongwei, Ambassador Gilles Garachon of France, Usec Benjamin Martinez Jr and Airbus SVP Sales for Asia-Pacific Jean Francois Laval formally celebrate the arrival of CEB’s brand-new Airbus A330 aircraft with a champagne ceremony.



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(from left) Usec Benjamin Martinez Jr, CEB President and CEO Lance Gokongwei, Ambassador Gilles Garachon of France, and Airbus SVP Sales for Asia-Pacific Jean Francois Laval celebrate the arrival of CEB’s brand-new Airbus A330 aircraft.

Tanleh Bldg., Abellanosa St., Consolacion, Cagayan de Oro City, Philippines Contact nos.: (088)856-3344, (08822)72-33-44 email: website:

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Main: Osmeña-Cogon Market, Cagayan de Oro Branch: Ipil,Carmen , Cagayan de Oro NOTICE OF AUCTION SALE

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

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

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

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

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

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

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region BRANCH 24 Cagayan de Oro City HDMF (PAG-IBIG), Mortgagee, -versus- SPS. RINSY and GLICERIO V. BACONG, Mortgagors. x----------------------------------------------------/


SHERIFF’S NOTICE OF SALE Upon extra-judicial petition for sale under ACT 3135 as amended filed by HDMF (PAG-IBIG) mortgagee, against SPS. RINSY K. BACONG and GLICERIO V. BACONG, mortgagor, resident of C/O DEAN ORTALIZ B-10, L-33 REGENCY PLAIN SUBDIVISION, IPONAN, CAGAYAN DE ORO CITY to satisfy the mortgage indebtedness which as of July 19, 2013, amounts to (P 395,779.31) excluding penalties, charges, attorney’s fees and expenses of foreclosure, the undersigned Sheriff will sell at Public Auction on October 21, 2013 at 9:00 A.M. or soon thereafter at the main entrance of the Hall of Justice, Hayes Street, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the properties with all improvements to wit: TRANSFER CERTIFICATE OF TITLE NO. T-121727 A PARCEL OF LAND (Lot 33, Block 10, of the cons. Subd. Plan, PCS10-001781being a portion of Lot Nos, 3650, 3651, 3652, 3653, 3654,, all of Cad-237,Cagayan Cadastre, Lot 3649-A, Psd-10-022211 & Lot 3649-B-1, Psd-10-022978.) Situated in the Barangay Iponan, City of Cagayan de Oro, Island of Mindanao Containing an area of EIGTHY (80) square meters more or less. Prospective buyers may investigate for themselves, in the event of Auction Sale can not take place for whatever legal reason the sale will proceed on the following day, without further notice, posting and publication, the title here in above and encumbrance thereon, if any there be.

Cagayan de Oro City, Philippines, September 3, 2013.

(Sgd.)TERESITO C. ESTENZO Sheriff IV BWM: Sept. 13, 20 & 27, 2013

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region BRANCH 24 Cagayan de Oro City HDMF (PAG-IBIG), FILE NO. 2013-228 Mortgagee, FOR: EJF OF REAL -versus- ESTATE MORTGAGE UNDER ACT 3135 MA. LUISA Y. REYNALDO married to GALO P. REYNALDO, Mortgagors. x-----------------------------------------------/ SHERIFF’S NOTICE OF SALE Upon extra-judicial petition for sale under ACT 3135 as amended filed by HDMF (PAG-IBIG) mortgagee, against MA. LUISA Y. REYNALDO, married to GALO P. REYNALDO mortgagor, resident of Block 24, Lot 28 PN Roa LCHP P- II, Barra Opol , Misamis Oriental, to satisfy the mortgage indebtedness which as of July 19, 2013, amounts to ONE MILLION ONE HUNDRED EIGTHY TWO THOUSAND NINE HUNDRED TWENTY ONE and 71/100 (P 1,182,921.71) excluding penalties, charges , attorney’s fees and expenses of foreclosure, the undersigned Sheriff will sell at Public Auction on September 30, 2013 at 9:00 A.M. or soon thereafter at the main entrance of the Hall of Justice, Hayes Street, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the properties with all its improvements to wit : TRANSFER CERTIFICATE OF TITLE NO. T-30221

Starting Sept. 20 , 2013 at 9:00 A.M. to 5P.M., this establishment will set an Auction Sale on all pledges since April 2013. Patrons are enjoined to verify their receipts.


Sa Septembre. 20, 2013 sa may 9:00 sa buntag paingon da alas 5:00 sa hapon, ang Tanan nga penirenda nga wala malukat sa bulan sa Abril 2013 maapil sa subasta. Giawhag ang tanan suki sa pagsusi sa ilang resibo. BWM: Mar. 15, 2013

ANG TAGDUMALA Republic of the Philippines REGIONAL TRIAL COURT 10th JudiciaL Region BRANCH 24 Cagayan de Oro City

HDMF (PAG-IBIG), Mortgagee, -versus- CARENE E. ILAGA, Mortgagors. x---------------------------------------------/


SHERIFF’S NOTICE OF SALE Upon extra-judicial petition for sale under ACT 3135 as amended filed by HDMF (PAG-IBIG) mortgagee, against CARENE E. ILAGA mortgagor, resident of Barangay 6, Waterfall, Balingasag, Misamis Oriental, to satisfy the mortgage indebtedness which as of August 1, 2013, amounts to (P 181,122.71) excluding penalties, charges, attorneys fees and expenses of foreclosure, the undersigned Sheriff will sell at Public Auction on October 21, 2013 at 9:00 A.M. or soon thereafter at the main entrance of the Hall of Justice, Hayes Street, Cagayan de Oro City, to the highest bidder , for CASH and in Philippine Currency, the properties with all its improvements to wit: TRANSFER CERTIFICATE OF TITLE NO. T-45334 LOT : 3279-B, Psd-10-050938 PORTION OF LOT : 3279, Cad-507, Balingasag, Cadastre AS SURVEYED FOR : SEGUNDINA ACERO LAND USE : Residential LOCATION : Barangay Waterfall, Balingasag, Misamis Or., Island of Mindanao AREA : THREE HUNDRED SEVEN (307) square Meters more or less Prospective buyers may investigate for themselves, in the event of Auction Sale can not take place for whatever legal reason the sale will proceed on the following day, without further notice, posting and publication, the title here in above and encumbrance thereon, if any there be. Cagayan de Oro City, Philippines, September 3, 2013. (Sgd.)TERESITO C. ESTENZO Sheriff IV BWM: Sept. 13, 20 & 27, 2013

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 17 Cagayan de Oro City OFFIC OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE FILE NO. 2013-220 Upon extra-judicial petition for sale under Act No. 3135 filed by HOME DEV’T. MUTUAL FUND (PAG-IBIG FUND), mortgagee, with office at J.R. Borja St., Cagayan de Oro City, against ROSELLE C. CORVERA, mortgagor, residing at c/o Dennis Corvera Block 18 Lot 27, 2A, La Buena Vida Subd., Canitoan, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of July 6, 2013, amounts to FOUR HUNDRED FOURTEEN THOUSAND THREE HUNDRED THREE PESOS & 27/100 (P414,303.27), excluding penalties, charges, attorney’s fees and expenses of foreclosure, the undersigned or her duly authorized deputy will sell at public auction on October 3, 2013 at 10:00 A.M. or soon thereafter at the office of the Clerk of Court, Regional Trial Court, Branch 17, Hall of Justice, Cagayan de Oro City to the highest bidder , for cash or manager’s check and in Philippine Currency the following property with all improvement’s to wit: TRANSFER CERTIFICATE OF TITLE NO. P-120460 “A PARCEL OF LAND (Lot 27, Block 18, of the cons. Subd. Plan, PCS-10001589, being a portion of All Resultant Lots within Blocks 1 to 16 & Road Lots 1 to 14 of Psd-10-020813 ). Situated in the Barangay of Lumbia, City of Cagayan de Oro, Island of Mindanao. Bounded on the NE., along line 1-2 by Lot 25 of Block 18 of the cons. Subd. Plan : xxxx …. Containing an area of Forty Five (45) square meters, more or less.’’’ TRANSFER CERTIFICATE OF TITLE NO. T-120461

A PARCEL OF LAND (Lot 28, Block 24, Psd-10-020903, being a portion of Lot 5237, Cad-237, Cagayan Cadastre) situated in the Barrio of Barra, Municipality of Opol, Province of Misamis Oriental, Island of Mindanao. Bounded on the NW., along line 1-2 by Lot 6236; Cad-237; on the NE., along line 2-3 by Lot 29; on the SE, along line 3-4 by Road Lot 24 (8.00 m. wide) on the SW., along line 4-1 by Lot 27, all of the subdivision plan. Psd-020903 Containing an area of ONE HUNDRED FORTY TWO (142) square meters more or less. Prospective buyers may investigate for themselves , in the event of Auction Sale can not take place for whatever legal reason the sale will proceed on the following day, without further notice , posting and publication, the title here in above describe and encumbrance thereon, if any there be. Cagayan de Oro City, Philippines, August 13, 2013.

‘’A PARCEL OF LAND (Lot 29, Block 18, of the cons. Subd. Plan, PCS-10001589, being a portion of All Resultant Lots within Blocks 1 to 16 & Road Lots 1 to 14 of Psd-10-020813). Situated in the barangay of Lumbia, City of Cagayan de Oro, Island of Mindanao. Bounded on the NW., along line 1-2 by lot 30; xxx … Containing an area of Forty Five (45) square meters, more or less.’’ All sealed bids must be submitted to the undersigned on the above-stated date, time and place. In the event the public auction should not take place on October 3, 2013, for whatever reason, the public auction will proceed on the next working day, without further notice, posting and publication. Prospective buyers may investigate for themselves the title herein-above described and encumbrances thereon, if any there be. Cagayan de Oro City, August 23, 2013.



BWM: Sept. 2, 9 & 16, 2013


BWM: Sept. 6, 13 & 20, 2013

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said that given that Unitrust has sufficient cash, claims of all depositors and creditors can be settled fully in cash. The bank also has surplus assets of P156 million after settlement of all claims of depositors and creditors. Mr. Francis Yuseco, Jr., Unitrust stockholder, is opposing the full release of cash payment to the depositors and creditors if they do not sign a waiver on their claims over the closed banks’ surplus dividends. A surplus dividend is compensation in the form of damages suffered due to the closure of the bank. This is computed at the rate of 12% per annum from the date of closure, in accordance with the Civil Code. Surplus dividends are declared on excess assets after payment of all claims of depositors and creditors. PDIC said that waiver on the part of the depositors and creditors over the surplus dividends is voluntary. The PDIC stressed that providing depositors and creditors accurate information on the financial condition of the closed Unitrust is critical in making informed decisions; and serves their best interests in order to maximize the recover y of their claims in the closed bank. This is because waiving one’s right to surplus dividends is a decision that the depositors and creditors have to make on their own.

drug interactions. And, whether endorser, producer, consumer or even as the attending physician, a wholistic approach to health is never moot and academic. This approach is timeless and will always withstand the tests of time. Eating right, exercise, abstinence from unhealthy practices like smoking and drinking alcoholic beverages, managing the day to day stresses and yes, feeding one’s soul, will help you in keeping that health and young looking face, more than all the supplements available in this world. For after all, supplements are supposed to be just…. To add on or enhance, not to replace.

from page 4

FIRE PROTECTION & PLUMBING SERVICES “Dedicated to Quality, Commited to Service.”

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from page 6

Hurst... from page 6

Jesus died to give you. Everyday read and obey His Message to you, so you can know that you have His eternal life. If you don’t use it, you’ll lose it—forever. Just Think a Minute…

Cimagala... from page 6

that we see, understand and act the way God himself sees, understands and acts. That’s why, to complete that above-mentioned Pauline passage, we are told that “in everything God works for good with those who love him, who are called according to his purpose.” (Rom 8,28) The life of Christ and those of saints are eloquent proof of the veracity of these words. Christ’s death may be considered as his ultimate defeat and failure, but it actually accomplished the greatest good for us-our redemption and perfection. St. Alphonsus Liguori, founder of the Redemptorists, was first a lawyer who failed spectacularly in one legal case, but that failure led him to the priesthood, and later he became bishop and brilliant doctor of the Church, a real expert in morals. Many other saints have similar stories. Indeed, God works in mysterious ways, and we

need to somehow cooperate government unit borrows with his ways through faith, without seeking BSP opinion hope and charity. We have to on the proposed borrowing? attune ourselves to this system One of two things can and create the appropriate happen: 1.) No financial institution will entertain such lifestyle. We have to disabuse request to borrow by the local ourselves from our strong government unit. Or 2.) If a and prevalent tendency to financial institution lends to rely simply on our human the LGU, such institution will powers without linking be facing strong sanctions them to God. This tendency from the BSP. has become very deeply Note: My book “Central embedded in our system. Banking for Every Juan and It’s even institutionalized in Maria” is now available in our culture, social customs, major branches of Fully legal and political systems, B o oke d, Powe r B o ok s , National Book Store and etc. It would seem that God the UP University Press. only has to be confined to churches and practically to from page 2 the private lives of people, but not to be acknowledged and executive of Air Asia Inc, said the invoked in public and official airline is finalizing its route plans. acts. This is fragmenting our Philippine AirAsia last March life improperly, detaching it forged a partnership with Zest from its source and end. Air, allowing the former, which Here we can already see operates out of Clark, to gain the enormity of the task to access to the latter’s slots at purify and enrich our systems the Ninoy Aquino International properly. Let’s take on the Airport. challenge! Philippines AirAsia holds an 85 percent economic stake and a 49 percent voting stake from page 6 in Zest Air while the latter owns of the borrower concerned, be a 15 percent stake in the former. it the national government, AirAsia Group owns 40 the government corporation percent of Philippines AirAsia. or the local government unit. The remaining 60 percent is held The BSP has advised the by Hontiveros, Michael Romero, national government on the Antonio Cojuangco and Yao. borrowing mix which should Zest Air and Air Asia has be adopted by the NG and the sought Civil Aeronautics Board NG has heeded BSP advice. approval of a plan to allow cross For 2013, at least, the selling of flights. NG has decided to source Think-tank Centre for Asiaits financial requirements Pacific Aviation (CAPA) said in mostly domestically, through a report that the outlook for Air the auction of treasury bills Asia’s Philippine unit is likely to improve once its operation is and treasury bonds. According to National consolidated with Zest Air. Treasurer Rosalia de Leon, “Zest changes the outlook for foreign borrowing by the NG Philippines AirAsia considerably, for this year will be limited particularly if the two carriers only to tapping official are able to fully integrate their development assistance operations,” CAPA said. (ODA) loans, which provide A single brand and product for very concessional terms across the Philippine market, including both Manila and Clark, to the government. W h a t h a p p e n s , f o r “should improve AirAsia’s position instance, when a local in the Philippines,” the report said.



Republic of the Philippines Regional Trial Court of Misamis Oriental 10th Judicial Region Branch-20 Cagayan de Oro City

Republic of the Philippines Regional Trial Court of Misamis Oriental 10th Judicial Region Branch 38 Cagayan de Oro City TERESA BUSILAC, REPRESENTED BY ATTY. ALEJANDRO JOSE PALLUGNA, Petitioner, -versus-


NORMA S. DIPUTADO, LOCAL CIVIL REGISTRAR OF CAGAYAN DE ORO CITY, Defendant. X--------------------------------------/


ORDER Before this Court is the petition of Teresa Busilac for the declaration of death of her husband, Aquilio B. Busilac in the Office of the Local Civil Registrar of Cagayan de Oro City. IT IS HEREBY ORDERED that said Petition be set for hearing on October 2, 2013 at 8:30 in the morning at the Session Hall of this Court, on which date, time and place, all persons who may have any opposition to the petition herein sought, may appear to show cause why said petition should not be granted. Let this Order be published in a newspaper of general circulation in the Province of Misamis Oriental once a week for three (3) consecutive weeks prior to the date of hearing. Likewise, let copies of this Order, with Petition attached, be posted by the petitioner on the bulletin boards of the Court, the City Hall of Cagayan de Oro City and the Provincial Capitol of Misamis Oriental for at least ten (10) days prior to date of hearing. Furnish copies of this Order and the Petition to the Offices of the Solicitor General, City Prosecutor of Cagayan de Oro City and the Local Civil Registrar of Cagayan de Oro City. SO ORDERED. August 19, 2013, Cagayan de Oro City.

Finding the petition for the declaration of presumptive death of KENT V. BUSILAC to be sufficient in form and substance, the same is hereby set for hearing on October 15, 2013 at 8:30 o’clock in the morning before this Court, at Room 113, hall of Justice, Cagayan de Oro City. At the expense of the petitioner, let this Order be published in a newspaper of general circulation in the City of Cagayan de Oro and the Province of Misamis Oriental at least once a week for three consecutive weeks. Let copy of this Order be published upon the Solicitor General at Makati City, and the City Prosecutor of Cagayan de Oro City for them to appear in behalf of the state.


Done this 20th day of August 2013, at Cagayan de Oro City, Philippines.


(Sgd.) BONIFACIO M. MACABAYA Presiding Judge

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Refund... from page 1

costs; and P190.942 million for forex-related adjustments; or a total refund amount of P661.105 billion. Mindanao customers will be recompensed for P1.842 billion worth of over-recoveries on fuel and purchased power costs; and P52.268 million for forex adjustments. Such will sum up to P1.894 billion. The rate increase for Visayas will be due to higher TAFPPC adjustment of P983.325 million; albeit this was partly offset by foreign exchange cost reduction of P86.972 million. It was stipulated in PSALM’s petition that “the allowable fuel cost is calculated based on the lower heat rate caps” set by the (ERC); and the “computed actual heat rate per plant.” The purchased power cost component adjustment, on the other hand, was computed “based on lower actual purchased power cost;” which is also in keeping with the cap/base rate levels set by the power industry regulator. On the forex adjustment, this accounted for “the difference between the principal debt payments made during the covered billing period as converted into Philippine peso using the actual exchange rate as of the date of payment.” The specified base exchange rate for the period was at P44 to the US dollar. Similarly, it factored in recovered and billed foreign exchange-related costs through the automatic cost recovery of monthly fuel and purchased power costs and forexrelated costs (ACRM) relative to the transition supply contract (TSC) of state-run National Power Corporation. In the preliminary order issued by the ERC, it scheduled series of public hearings on PSALM’s petition in the three major grids from August 27 to September 5 this year. It further directed PSALM to make expository presentation on its application and for it to back this up with documents as justification.

Cheaper... from page 1

“Cepalco and Minergy are betraying by this attempt to construct a coal plant for customers the legacy of the late Ramon C. Abaya, their long-time chief executive officer, who wanted to brand Cepalco as a renewable energy corporation,” Tauli said. According to studies conducted by Tauli, who headed the Engineering Services Division before his resignation in 2012, there are run– of-river hydroelectric power plants on the Cabulig and Bubunawan rivers which could be developed as embedded generating plants to supply the Cepalco distribution at levelized cost of energy (LCOE) of less than P5.00 per kWh. “The proposed power purchase agreement of Cepalco with the Minergy Coal Plant is going to cost five pesos per kilowatt-hour (P5/ kWh) or greater from 2016 onward,” he said. His studies also revealed that there is at least 60MW of run-ofriver hydroelectric power on the Cagayan River that could also supply power directly to Cepalco distribution system at costs of around P4.00 per kilowatt-hour or less. In addition, Tauli said the 225MW Agus 3 is being proposed for development by the Lanao del Norte provincial government, and it is estimated to have an LCOE of less than P3.00 per kWh, and could therefore be made available to Cepalco at an effective rate of less than P4.00 per kWh, including transmission delivery charges. “We suggest that Cepalco enter into power purchase agreements with the developers of these hydroelectric power plants instead of contracting power supply for their customers from the proposed Minergy coal plant, so that Cepalco can provide the requirements of its customers at costs less than what they would pay for power supply from the Minergy Coal Plant,” Tauli stressed. The consumer advocacy group Konsumanteng Kagay-anon, Inc. (KKI) supports Tauli’s stance regarding the proposed Minergy coal plant. In its motion for intervention

Turnover of Electric Patrol Motorcycle in Cugman Congressman Rufus B. Rodriguez turns over one electric patrol motorcycle to Cugman Barangay Chair Ricardo Pacheco that will be used for implementing peace and order and in responding immegency call in the barangay. The electric motorcycle which is smoke free costs P35 thousand pesos taken from the congressman’s PDAF. Witnessing the ceremony are City Councilors Enrico Salcedo of the second district; Zaldy Ocon, Candy Darimbang of the first district and Barangay Kagawads Miller Cagatin and Maria Elsie Jandayan. submitted to the ERC last August 2, KKI cited DOE records which indicate the critical years for additional power for Mindanao are 2015 and 2018. For 2015, committed capacities as identified by the DOE can amply cover the region’s requirements. For 2018, based on news reports and Malacanang’s releases in April of this year, FDC Misamis Power Corporation has a 405-MW project set for completion and operation in 2016 and 2018 – 270MW by 2016 and the remaining 135MW by 2018,” the KKI paper said. In addition, the proximity of FDC Misamis Power Corporation’s power plant which is located at the Phividec Industrial Estate in Villanueva, Misamis Oriental, is also expected to provide readily available power for Kagay-anons that CEPALCO can already tap. The FDC project’s proximity will also offer stability or better voltage quality for power users in the area. Not the least, the KKI noted that the 2018 target date for commissioning of the third unit of the FDC plant could come on-stream earlier if demand so warrants. “Cepalco can take advantage of the third unit of FDC’s power plant instead of incurring additional operating and maintenance (O&M) costs that consumers will have to carry that will surely be of higher cost as Minergy’s plant size (110MW) is smaller than that of FDC Misamis,” the KKI paper said. Relative to costs, the presentation of Cepalco during a July meeting with the energy committee of the Cagayan de Oro City Council has indicated a base energy price based on received tenders as per Senior Vice President Jaime Rafael U. Paguio ranging from P3.56 to P3.77 per kilowatt hour. Given the trend in current coal prices which is about US$67 per metric ton based on June 11, 2013, pricing by,and even with the downtrend of coal prices, coal prices are not low enough or will not go down enough to help generate a base energy price for Minergy at a range of less than P4.00. Even in submissions of Global Business Power Corporation for its Toledo power plant in Cebu as well as KEPCO for their CFB power plant in Naga, Cebu, sometime in 2008-2009 to the ERC, their base energy rates were above P5.00. Cepalco and Minergy will need to provide the exact cost or burden to consumers of this new PSA.


Tuna... from page 1

In 2012, he said the country generated around US$ 123.3 million in total receipts from the canned tuna exports to the EU markets despite being slapped with a 24-percent tariff. The EU is presently the country’s biggest export market for canned tuna, which is mainly produced by six canneries based in this city. “Once we get into the GSP Plus program, our export prices (for canned tuna) will become more competitive, mainly because of the removal of the 24 percent duty. So it is imperative that we get into the GSP Plus by all means,” he said at the 15th National Tuna Congress here. The national government, through the Department of Trade and Industry (DTI), is presently finalizing its application to the EU’s GSP Plus Program, an incentive scheme that grants the full removal of tariffs for a range of export products, including tuna. A program briefer said EU-GSP Plus is an enhanced preferences scheme that took off from the standard GSP, which offers to developing countries a partial or entire removal of tariffs on two thirds of qualified product categories that are exported to the EU. Under the EU-GSP Plus program, product categories covered by the standard GSP are granted the “full removal of tariffs.” These are granted to countries which ratify and implement international conventions relating to human and labor rights, environment and good governance. Under the standard GSP, Buencamino said a duty of 20.5 percent is levied on all local canned tuna exports to the EU. “EU importers, therefore, discount their buying prices from the Philippines by this cost of duty to make our canned tuna competitive in the EU market with all other imports from other tuna sources,” he said. Citing TCAP’s estimates, he said the country’s canned tuna export receipts would improve “at the very least” by 24 percent once it is included in the GSP Plus scheme. By then, he said exporters “will not need to adjust prices, as we have been compelled to do to remain globally competitive, to accommodate the burdensome duty imposed on EU imports of canned tuna from the Philippines.” With the improved competitive

stance under the GSP Plus program, Buencamino said they expect tuna factory employment to increase by an industry average of 70 percent while manning in fishing fleets will likely increase by around 50 percent. He added that such scenario was seen to trigger a projected increase in the volume of raw material catch by an average of 64 percent.

Vista... from page 2

known as the Vista Land group. Forbes ranks Villar as the Philippines’ 16th richest man with an estimated net worth of $1.05 billion. Born to humble beginnings in Tondo, Manila, his success in the real estate business was instrumental in his ragsto-riches life story. His political career spanned two decades, including a presidential bid in 2010. He lost to then Senator Benigno S. Aquino Jr. Villar ended a three-year term as Senator in June 2013, serving as Senate President from 2006 to 2008. He was succeeded by his wife, Cynthia Villar. He represented the district of Las Piñas City in Congress from 1992 to 2001. He was Speaker of the House of Representatives from 1998 to 2000, helping unseat then president Jospeh Estrada by transmitting the impeachment complaint to the Senate. A certified public accountant, Villar graduated from the University of the Philippines in 1970 with a degree of Bachelor of Science in Business Administration and in 1973 with the degree of Masters in Business Administration. Vista Land is the holding company of five business units - Brittany, Crown Asia, Camella Homes, Communities Philippines and Vista Residences. Vista Land netted P2.6 billion in the first half, or 18 percent higher than the P2.2 billion in the same period last year, on strong demand for its Camella brand.

Habagat... from page 2

vehicles, light commercial vehicles, light trucks, trucks and buses—in the eight-month period meanwhile grew 13.6 percent to 78,394 from 68,980 last year. As the “-ber” months set in, the auto industry is preparing for the anticipated seasonal jump in sales, Gutierrez said. “The market should expect some new model introductions as well as bigger promotion packages,” he said.

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september 13-15, 2013

My|Phone is a proud presenter of the recently concluded MsCdeO 2013, in Cagayan de Oro City, August 24. In photo are Miss Cagayan de Oro 2013 winner Amadea Lucia Piatti and Richard S. de Quina, My|Phone VP - Marketing and Business Development, during the coronation night of the pageant. Photos courtesy of Robert Douglas O. Andaya- Official photographer Coronation Night and the MsCdeO2013 facebook page

BusinessWeek Mindanao (September 13-15, 2013)  

BusinessWeek Mindanao (September 13-15, 2013)

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