BusinessWeek Mindanao (September 19-20, 2015)

BusinessWeek MINDANAO

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YOUR Mindanao-wide BUSINESS paper

Volume VI, No. 037

Market Indicators

As of 6:12 pm september 18, 2015 (friday)

FOREX

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Briefly Tsunami alert DAVAO City – A tsunami alert has been raised over 20 provinces, five of them in Mindanao, after a 7.9 magnitude earthquake rattled near the coast of Chile at 6:55 a.m.

(Philippine time).

Based on latest tsunami bulletin issued at 7:22 a.m., the threatened Mindanao provinces are Surigao del Norte, Surigao del Sur, Davao Oriental, Davao del Sur, and Davao Occidental.

“An earthquake of this size has the potential to generate a destructive tsunami that can strike coastlines in the region near the epicenter within minutes to hours,” it added.

No evacuation has so far been implemented but coastal communities under the Phivolcs’ tsunami watch are told to “Wait and listen for updates”.

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Robust growth to propel PH to Asean integration www.businessweekmindanao.com

Sat-Sun | September 19-20, 2015

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HE Philippines is currently facing a bright future owing to its robust economic growth as it is projected to be ranked the largest economy in the Southeast Asian Region by 2050, according to Department of Trade and Industry Secretary Gregory Domingo.

The Philippines is well positioned to seize opportunities and benefit from the upcoming full integration of the ASEAN Economic Community (AEC) next year, as it is buoyed by a high economic performance, growth/PAGE 11

EVERYDAY LIFE. T’boli children paddle along the fish cages at Lake Seloton in Lake Sebu town of South Cotabato. mindanews photo by keith bacongco

Jobless rate down THE number of unemployed Filipinos went down in July 2015 as the market continues to reflect the continued strength of the economy, according to the National Economic and Development Authority (NEDA).

The Philippine Statistics Authority (PSA) reported today that unemployment rate further eased to 6.5 percent, lower by 0.2 percentage point (ppt), from last year’s 6.7 percent.

“The favorable economic growth of the country certainly drove an encouraging response from the labor market in July 2015. This follows a similar trend in January and April 2015 where unemployment also declined relative to 2014,” Economic Planning Secretary Arsenio M. Balisacan said.

Devt partnership STATE think tank Philippine Institute for Development Studies (PIDS) and Davao-based Mindanao Development Authority (MinDA) formalized their new development partnership on September 4, 2015, during the 1st Mindanao Policy Research Forum held at the Waterfront Insular Davao.

On behalf of their respective institutions, PIDS President Dr. Gilberto Llanto and MinDA Executive Director Undersecretary Janet Lopoz agreed to join forces in promoting the conduct of policy research and knowledge-sharing activities in support of Mindanao’s development needs.

The memorandum of understanding signed by Llanto and Lopoz also includes the establishment of the Mindanao Knowledge Center (MKC), a knowledge hub of socioeconomic studies conducted by higher education institutions in Mindanao.

New farming method seen to counter effects El Niño phenomenon

By CRIS DIAZ, Contributing Editor

RICE farmers in Northern Mindanao are now applying new farming techniques to counter the possible effects of the El Niño phenomenon in Northern Mindanao, an official from the National Irrigation Administration (NIA) said Thursday.

Ramon A. Bugacia, NIA regional manager in Northern Mindanao, said that since NIA

has launched an information blitz about cropping as a new farming technique to cushion the impact of the dry spell as many farmers are now heeding the call.

“The NIA launched the information campaign two weeks ago about the “cropping techniques” in the planting of rice to counter the ill-effects farming/PAGE 11

A vendor attends to her daughter while minding her stall at the public market in Malaybalay City. mindanews photo by h . marcos c . mordeno

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A Scary Story

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Opinion

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hink a minute…Years ago there was a rich widow named Sarah. She inherited 100 million dollars! Sarah bought a house on 160 acres of land in California. She hired a team of 16 carpenters who continued working and enlarging her house every day for 38 years! But Sarah’s instructions for building her house were very strange. For example, each window had to have 13 panes of glass. Each wall had to have 13 panels or boards. The chandeliers had to have 13 crystal balls.

Strange and scary pictures hung on all the walls. There were trap doors and many secret passageways. And there was 1 blue room that only the widow Sarah was allowed to enter.

You see, this rich woman was building a home for the dead! Every night at midnight, a servant would go to a tower and ring a bell to call in the spirits of the dead.

Then Sarah would enter the blue room. This happened every night…for 38 years!

Finally, Sarah herself died at age 85. By the time of her death, her home for the dead had 160 rooms, 10,000 windows, and covered over 6 acres of her estate land.

So why did Sarah live her life for the dead? It

THINK

A Minute

Jhan Tiafau Hurst was because she lived with the terrible guilt of many deaths! You see, all of Sarah Winchester’s money and wealth came from the famous Winchester rifle.

Her company’s gun had been used to kill more Indians and soldiers than any other gun in America’s history. So because of her horrible guilt that haunted her every day and night, Sarah built her huge mansion for the spirits of all those people who had been killed by her company’s gun. Quite an amazing true story!

But the fact is we all are guilty of doing wrong, hurtful things to others. And we may try many different ways to get free from our guilty conscience. Yet there is only one way: we must admit our hurst/PAGE 11

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Tips for real success in business

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IFE’S INSPIRATIONS: “… S e e k f i r s t t h e kingdom of God and his righteousness and all of your needs shall be given to you…” (Jesus Christ, our God and Savior, in Matthew 6:33, the Holy Bible).

-ooo SCRIPTURES FOR BUSINESS OWNERS: Perhaps, those who are running businesses and companies which are profitoriented can learn a thing or two on how to become truly successful, from an Internet posting coming from Melcor Virata of the e-group of the UP Sigma Rho Fraternity, which is aptly entitled: “Scriptures for Business Owners”.Here are some of them, with the Biblical verses highlighted for emphasis: “Leviticus 19:13: You shall not oppress your neighbor, nor rob him. The wages of a hired man are not to remain with you all night until morning.“Deuteronomy 25:13-15: You shall not have in your bag differing weights, a large and a small.

You shall not have in your

house differing measures, a large and a small. You shall have a full and just weight; you shall have a full and just measure, that your days may be prolonged in the land which the LORD your God gives you.

-ooo WEALTH OBTAINED

BY FRAUD DWINDLES: “Job 31:13-14: If I have despised the claim of my male or female slaves when t h e y f i l e d a c ompl ai nt against me, what then could I do w hen G o d ar is es?

And when He calls me to account, what will I answer Him? “Psalm 112:5: It is well with the man who deals generously and lends, who conducts his affairs with justice; Proverbs 10:4: Poor is he who works with a negligent hand, but the hand of the diligent makes rich; Proverbs 11:1: A false balance is an abomination to the LORD, but a just w e i g ht i s H i s d e l i g ht .

“Proverbs 13:4: The soul of the sluggard craves and gets nothing, but the soul of the diligent is made fat; Proverbs 13:11: Wealth obtained by fraud dwindles,

but the one who gathers by labor increases it; Proverbs 16:8: Better is a little with righteousness than great income with injustice.

-ooo “Prove r b s 2 2 :1 6 : He who oppresses the poor to make more for himself or who gives to the rich, will only come to poverty.

Jeremiah 22:13: Woe to him who builds his house without righteousness and his upper rooms without justice, who uses his neighbor’s services without pay and does not give him his wages.“Malachi 3:5: Then I will draw near to you for judgment; and I will be a swift witness against the sorcerers and against the adulterers and against those who swear falsely, and ag ai nst t ho s e w ho oppress the wage earner in his wages, the widow and the orphan, and those who turn aside the alien and do not fear Me, says the LORD of hosts….”Let me add one more verse to what Melcor Virata posted, which is one of my favorite verses on wealth: “Deuteronomy 8:18: Do not forget the

K akampi

Mo A ng Batas

Atty. Batas Mauricio Lord your God for it is He who gives you the power to acquire wealth.”

-ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way), a Bible study and prayer session on radio, airs Mondays to Fridays, 6 p.m. to 6:30 p.m., at DWAD 1098 kHz on the AM band. For replays, go t o w w w. f a c e b o o k . c om / angtangingdaan or www. facebook.com/ANDKNK and scroll for “Ang Tanging Daan” broadcasts. Phone: 0922 833 43 96, 0918 574 0193, 0917 984 24 68.

E mai l : b at as mau r i c i o @ yahoo.com.

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Virtue may hide a vice

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hat was quite a reminder I got while I was reading recently on the life and work of St. Gregor y the Great (540-604), pope and doctor of the Church. A native of Rome who became its mayor, he later became a monk, an ambassador, a deacon and then a pope during a ver y turbulent period of Rome and Europe in general.

He was both a fervent contemplative and a highly educated person active in secular affairs, immersed both in the sacred and mundane things. It must have been precisely due to this background that he also became a very good reader and guide of souls.

Vir tue, he s aid, can mask a hidden vice that one may be suffering. It’s a most relevant insight that, I think, explains very well that increasingly common phenomenon of people who appear very good and holy, seemingly advancing north, when all of a sudden we

hear that they have gone south instead.

Sad to s ay, c as es of su d d e n and su r pr is i ng defections and infidelities are heaping up. Seminarians, for example, w ho have already spent many years in seminary formation and who appear brilliant and promising, decide not to pursue priesthood. The high expectations of many people are abruptly thwarted.

Or priests and married people who appear to be good, holy and faithful, already with significant accomplishments, suddenly fall into some compromising predicament, often causing scandal and painful breakups.

We all know that we ac tu a l ly ne e d to b e in const ant v ig i l ance and interior struggle against our own weaknesses and temptations. We have to get real and acknowledge that we have feet of clay, our own version of the Achilles’ heel.

Temptations also abound and have in fact become s y s t e m i c . We h a v e t o contend with the classical “lust of the eyes, lust of the flesh and the pride of life” that have worsened with the coming of the new things.

While they give us a lot of good, they can also occasion a lot of evil. Besides, we are ranged against powerful spiritual enemies.

We c annot b e naïve and just attend to these challenges with half measures. We need to be thorough, seeing to it that our efforts are earnest and authentic. We have to be war y of the temptation of coming up simply with decoys, making use of our other talents and good qualities to cover a weakness or a vice that is actually festering. This is when we can appear to have virtues that actually are not virtues. We can mislead not only others but also our own selves. We can get the sensation that we are just

The best leader is the one who has sense enough to pick good men to do what he wants done, and self-restraint enough to keep from meddling with them while they do it.

-- Theodore roosvelt

HINTS

and

Traces

Fr. Roy Cimagala ok, when in fact we are not.

Yes, we can make use, for example, of our good looks, our speaking talents, our affable personality, etcetera, to cover our being a calculating person, or our bad trait of disorder, superficial treatment of our duties and responsibilities.

Nowadays, this deceptive kind of mind-frame seems to be fostered, since there is a trend toward mere image-making that may not correspond to reality.

We have to be most careful with this development.

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Why HE subject should be retained?

By Alvey L. Apao School Paper Adviser San Vicente Annex Elementary School Sinacaban District Misamis Occidental Division

In a modern age like this, Information Era is existing.

It means that people give more imp or t ance and more u s e on mo d e r n things cause by science and technology, such as computers, cellphones and other gadgets. This could be the reason behind the reformation of subjects among some schools.

This reformation include the plan of erasing of Home Economics in class subjects. Now, why should it be retained?

In an article published on The B oston Globe, between stocking a pantr y, furnishing and m a i nt a i n i n g a h om e , caring for children and managing a budget to take care of it all, there are a lot of issues a person has to juggle in order to make a home function smoothly and Home Economics teaches a lot of it.

Home Economics also deals with the economics and management of the home and community.

It a l s o d i s c u s s e s o n i mp or t ant topi c s one

shou l d k now su ch a s c o n s u m e r e d u c at i o n , institutional management, interior design. It also teaches on proper home management in terms of home furnishing, handicrafts, sewing, clot hing and text i les, commercial cooking, cooking, nutrition, food preser vation, hygiene, child development, managing money, and even family relationships.

Fa c t b e tol d, su ch lessons engages students on theories that helps run a family environment in a proper way and make the world a better place for generations to come.

In this time that a lot kind of technologies leave various families to adjust a practical kind of family environment, it is important to still know the basics and as well, the sciences behind Home Economics. It is because it does not just teach on how to run a family but it also give tips on health and proper living that each individual should know.

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Foreign resto owner to open more branches in Davao A FOREIGN restaurant owner is expanding business in this city and neighboring cities in the region before the year ends.

Jay York, general manager and managing director of Zoofari Group, Inc. disclosed that friendly business policies in the city and growth in resto has encouraged them to expand their operation.

York, who hails from Los Angeles, California, said their Outback Grill Barbecue Restaurant with a Safari theme has become a birthday destination among Dabawenyos with an average of 3 to 5 groups of diners daily.

He said they are now already on its third year of operating a restaurant and fourth of innovating kids’ play activity area in Davao City.

“We already have followers both Filipinos and foreigners,” he said, adding that diners experience the good food, the fun and entertainment.

Its famous “chicken dance” is the best seller wherein diners together with the staff interact with each by dancing the “itik-itik” dance.

There is also fire dancing exhibition on weekends, he said.

And the Golliath Burger Challenge is a much-talked about in town where one has to consume in one hour a 2.2kilo burger to win P1,000 and a t-shirt. The burger with a kilo of pure beef pattie costs about P892, he said.

Todate, more than 20 diners had beat the challenge, he said.

York said their business here started first with the “crab hermit” in a mall where they sell the strawberry crab

hermit from Indonesia as pets but folded up after several months and then brought in the “My Pop Popcorn”.

He said their business concept is for the kids and with the prodding of the mall management to open a children’s play activity area, they opened the first Zoofari at SM City Davao in 2012.

The restaurants and cafe came later, he said parents leave their kids at the play area in (Zoofari Tree

Haus in Bacaca), and they go somewhere else to eat hence we put up the Miner’s Cafe. With the Outback Grill nearby they could also order food from there, he added.

Zoofari has branched out to Tagum City and “we will be opening our tallest play structure with 9 meters in height in Gaisano, Digos City, he revealed.

He said Gaisano has given them the best location with resto/PAGE 11

Del Monte keen to proceed with share sale plan when dust settles FRUIT juices company Del Monte Pacific Ltd. might revive its preferred share sale plan when market conditions improve, the company’s chief financial officer said.

On the sidelines of a forum in Makati City on Thursday, Del Monte Pacific CFO Ignacio C. O. Sison told reporters the equity offering may happen in the Philippines or in Singapore.

The fruit canner is listed on the stock exchanges in both countries.

“In the future, we will do a perpetual securities offering

at the right time when the market’s right,” Mr. Sison told reporters.

Del Monte deferred a $360-million sale of preferred shares in Singapore at the start of the year because of weak global market conditions.

The fund-raiser was supposed to refinance Del Monte’s $350-million bridge loan with BDO Unibank, Inc. The company opted to extend the maturity of the bridge loan instead of tapping the equities market.

The preferred shares were originally intended to be

issued in the local equities market, but Del Monte Pacific eventually decided to move the deal to the Singapore Stock Exchange.

The offering of preferred shares was meant to form part of a series of fund-raising initiatives aimed at repaying debt incurred to back the $1.68-billion acquisition of US-based Del Monte Foods Co.’s consumer business, which was later renamed to Del Monte Foods, Inc., in February last year. The two are unaffiliated companies, del monte/PAGE 11

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6 NFA to mark national grains industry week YOUR DAILY Mindanao-wide BUSINESS NEWSPAPER

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SURIGAO City -- The National Food Authority (NFA) provincial office of Surigao del Norte will lead the celebration of the National Grains Industry Week here on Sept. 21-25, 2015.

The celebration, which is anchored on the theme, “S eguridad sa Pagkain, Tung ku lin Nat in,” w i l l kick-off on Sept. 21 with a motorcade around the city.

A c c o r d i n g t o N FA provincial manager Gleen

P. Echin, the week-long celebration aims to give emphasis on the enhancement of national food security, promotion of food safety and quality consciousness among people and fair trade practices in the grains market and the institutional development of famer cooperatives into self-reliant and competitive economic entities.

Other activities during the formal opening include, the nfa/PAGE 11

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Mindanao watershed eyed for environmental payback scheme

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AVAO City -- A major watershed in Mindanao is being eyed for the implementation of Payment for Ecosystem Services (PES), an incentive mechanism designed to strengthen management of natural resources and ecosystems that provide goods and services to the public and key industries.

The Libungan Watershed, a 52,820-hectare located in Cotabato province is being considered for PES to encourage the efficient and sustainable use of the resources that are being provided by the watershed and its surrounding areas.

A watershed is described as an area of land that contains common set of streams and rivers that drain into a single larger body of water. The Libungan Watershed is home to eco-tourism sites and two river irrigation systems (RIS)

that provide water to 9,255 hectares of rice lands, a major crop that drive economic growth in the province.

The municipalities of Pigcawayan, Aleosan, L ibungan, Mids ayap, Alamada, Pikit and Banisilan, which have formed into an alliance of local government units called PALMA + PB will directly participate in the proposed PES and oversee the implementation of the mechanism.

“The idea of subjecting Libungan Watershed to PES has met a positive response from respondents,” said Dr. Carmelita Martinez, PES Consultant of the Mindanao Development Authority (MinDA).

During t he recently concluded 1st Mindanao Policy Research Forum held at the Insular Waterfront Hotel here in this city, Dr. Martinez presented “Developing PES

Mechanism with River Basin Organization (RBOs) in Mindanao” which highlighted the result of a pilot study on PES for the Libungan Watershed commissioned

by MinDA. T he for u m w as c o organized by MinDA and the Philippine Institute for Development Studies (PIDS).

Dr. Martinez said “the pilot study revealed that 92 percent of respondents are willing to pay for the protection of Libungan Watershed,” while adding “those who cannot pay have expressed willingness to volunteer their time in any protection and conservation project.”

In the implementation of PES, the farmers or landowners who have agreed to manage natural resources such as forests, watersheds, rivers, and streams are given incentive payments for

rendering ecological services such as replanting of trees and ensuring the survival of the trees planted. Payments are made by the beneficiaries of the environmental services such water users, companies that benefit irrigation systems and industry stakeholders.

The PES mechanism is also seen to enhance the protection of biodiversity that provide environmental goods such as food, freshwater, fuel, fiber and other natural resources that are used as inputs to the production process that help move the economy.

“PES is a market-based mechanism that will employ practical approaches and is not a program designed to reduce poverty,” said Martinez while explaining “that PES is an economic incentive to foster more efficient and sustainable use of ecosystem watershed/PAGE 11

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GSIS members to get more benefits starting this month MEMBERS OF the Government Ser vice Insurance System (GSIS) will

receive additional benefits starting this month after the state pension fund posted

The importance of establishing good home environment

By Alvey L. Apao School Paper Adviser San Vicente Annex Elementary School Sinacaban District Misamis Occidental Division

The first group of people that a child has communicate with is his family. In addition, they are the ones that made him feel loved and cared for. It is in them that a child first learned and further appreciate gaining knowledge.

This first step of learning of a child took place through observing, listening, seeing people around and interacting with. It is a continuous receiving of knowledge, adjusting of attitudes and discovering acquired values.

Thus, once he began to step out from that home, he will be bringing these learnings wherever he go, such as in school.

Fact be told, family has a great influence to the learning development of a child. The kind of relationship inside his home affects him and his learning

progress. For an instance, a peaceful home could provide good impact to the child’s education because he could concentrate in his studies. Contrary to this, a family where conflicts reside will cause negative impact to the student not just in his studies, but also his behavior, interaction with other people and his physical, mental and emotional health.

It is true that family rel at i onsh ip and a ls o parental involvement in child’s learning are key factors in improving his academic attainment and achievements. Thus, it is important that families should be aware on this because family environment matters much, or even the one that matters most in order for a student to be successful in his academic life and life, as a whole.

good growth last year.

In a statement yesterday, GSIS said the funeral benefit of G SI S m e mb e r s an d pensioners will be increased to P30,000 from the current P20,000.

G SI S Pre s i d e nt an d General Manager Robert G. Vergara was quoted as saying that the increase “is long overdue,” citing that the funeral benefit was last increased in 2001, when it was raised to the current level from P18,000.

The state pension fund n o t e d t h at m o re t h a n 272,000 regular old-age and disability pensioners as of last year will also receive a

one-time benefit equivalent to one-month pension or P10,000, whichever is lower.

GSIS will also introduce a milestone benefit scheme for ne arly 6,000 of its pensioners. Those who are 90 to 94 years old as of Sept. 1 will be granted a milestone benefit of P20,000; while over 1,100 pensioners -- who are aged 95 to 99 -- will receive P50,000; and 181 pensioners aged 100 years old and above will get P100,000.

GSIS also noted that effective Sept. 2, its regular pensioners will be paid the following milestone benefits on their birthday: P20,000

for pensioners who will turn 90 years old; P30,000 to pensioners for those who will turn 95 years old; and P50,000 for pensioners turning 100 years old.

“GSIS is in a position to enhance these benefits due to its record financial performance in 2014,” Mr. Vergara said.

The state-run pensioner said its total assets reached P908 billion in 2014, while its income spiked to P140 billion. GSIS’ revenues also went up to P231 billion.

Under Republic Act No. 8291 -- GSIS Act of 1997 -the GSIS Board of Trustees is empowered to approve

and adopt guidelines that will increase the benefits of GSIS members.

GSIS noted that the benefit enhancements “will not have any adverse impact on the fund life of the Social Insurance Fund which stand at 2049 or 35 years.”

GSIS saw its net income plunge to P29.6 billion from P94 billion in the January to Ju ne p e r i o d du e to volatilities in the equities market.

Mr. Vergara earlier said its income for 2015 may fall below its earlier projection of P65 billion as equity markets and fixed income markets continue to underwhelm.

BPI banks on consumer business to drive lending growth this year THE CONSUMER side will continue to drive Bank of the Philippine Islands’ (BPI) loan growth this year, although its lending business will not be as strong as it was in previous years, its top official said Thursday.

BPI President and Chief Executive Officer Cezar P. Consing said that the bank’s total loan portfolio remains on track to post “healthy growth,” although this may

not be as strong as last year’s and the year prior.

“I think what we’ve seen, the pace of growth in lending that we’ve seen in 2013 and 2014 has not been repeated in 2015, not as fast, but it’s still healthy growth,” Mr. Consing said on the sidelines of BPI’s first Sustainability Summit on Thursday.

The countr y’s thirdlargest bank in asset terms saw its net loans reach P800

billion in 2014, up 26% from the end-2013 level of P630 billion, its annual report showed. In the first semester of this year, however, BPI’s total loan portfolio expanded by just 9% year on year.

BPI Family Savings Bank President Natividad N. Alejo has said that BPI wants to exceed last year’s loan growth level.

Moving forward, Mr. Consing said he expects

consumer loans to continue growing faster than corporate loans this year.

“Consumer lending is strong. Right now, at least for us, the retail book is growing faster than the corporate book... retail lending has been strong, and I expect it to be strong until the end of the year,” he said.

“I actually think what happened is corporates took bpi/PAGE 11

A griBusiness 8 Banana export industry wants review on FTA BusinessWeek MINDANAO

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THE Philippine banana export industry is urging the government for a review of the country’s Free Trade Agreements (FTAs) with its trading partners.

“There is a need for a thorough review of our f re e t r a d e a g re e m e nt s and assess our trading partners’ fulfillment of their commitments to ensure that we are at an outstanding edge in the trading game; in our case, the elimination or reduction of tariffs,” said Stephen Antig, executive director of the Philippine Banana Growers and Exporters Association Inc. (PBGEA).

Banana is still the country’s top fresh fruit export. However, Antig said that industry players are now wary that they will eventually lose its market shares “if the government won’t be more aggressive in negotiating for reduced tariffs in countries where we export our bananas.”

He a l s o m e nt i o n e d t hat “pro duc t ion costs are increasing every year to maintain volume and quality, so much so that some multinational are already thinking about relocating to other countries which have investor-friendly policies.”

In fa c t , Ant i g s ai d,

The essence of reintroducing culture and belief to students

some PBGEA members are already getting invitations to expand and develop banana plantations in Vietnam.

Philippine cavendish is still under the exclusion list of the country’s trading partners. “That means our buyers have to pay import duties ranging from 40 to 10 percent of the value of the goods. This poses as a stringent constraint and encourages our importers to get fresh bananas from our competitors at lower importation costs,” he noted.

The Philippines remains as the dominant supplier of fresh bananas to Japan, South Korea, China and New Zealand, but Vietnam, Indonesia, Mozambique and Costa Rica are slowly penetrating these markets.

In 2014, records from its Ministry of Finance showed that Japan imported fresh

bananas from 12 countries, namely: the Philippines, Ecuador, Guatemala, Peru, Taiwan, Mexico, Colombia, Thailand, Costa Rica, China, Mozambique and the Dominican Republic.

In a letter sent recently to the offices of the Department of Trade and Industr y (DTI) and the Department of Agriculture (DA), Antig pointed out that “it is only logical for Japanese importers to source part of their supplies from countries with zero tariffs to minimize business costs hence, reducing their demand for Philippine bananas.”

Some banana producers in Asia, particularly Vietnam, are threatening to grab the Philippines’ dominant p osition as the largest exporter of bananas in this region.

Vietnam produces around

30 different varieties of bananas in virtually all the regions of the country. Some of the bananas are quite unique from what a typical global consumer sees.

There has been increasing talk that Vietnam plans to industrialize its banana industry. Vietnam will soon scrap some of its traditional banana cultivars and instead grow what the “global market” demands.

Dr. Nguyen Van Khai, a well-known agricultural consultant, was quoted by Vietnam News Agency that bananas are among the 14 kinds of fruits which play an important part in the nation’s export industry. Banana is replacing rice as a crop on 10 percent of the area currently under rice cultivation, adding to the 90,000 hectares already under banana cultivation.

The Philippines currently

produces roughly 1.4 million metric tons (MT) of bananas per year and its cultivation area makes up approximately 19 percent of the total fruit farming area nationwide.

Currently, China needs to purchase around 20-30 MT per day, and Japan asks for 15-20 MT. As such, a number of provinces around Vietnam have switched to banana farming and invested heavily in banana plantations, due to increasing world demand.

The business has bloomed in the area over the past decade as the crop has become increasingly profitable for local farmers.

INCREASED IMPORTS China, Singapore and the Republic of Korea were also noted to have suddenly increased their imports of Vietnamese bananas. banana/PAGE 11

By Alvey L. Apao School Paper Adviser San Vicente Annex Elementary School Sinacaban District Misamis Occidental Division

Education is an essential matter to man’s life for it reintroduces him to the world where he lives.

Education is also the thrust that answers the questions bottled up inside him. For example is on his culture and belief. These are matters that already part of a person and even existed even before he is born. There are times that a man will ask himself about what it is all about and why people like his kind practice and recognize as such.

For an instance is the most awaited celebration of the Yuletide Season.

Christmas is a mostawaited occasion of the year. Other people say it is time to celebrate love that saved this world from sin.

Celebrated every December, Christmas is the season when everyone can see house decorations in gold, red and silver and when kids’ singing voice can be

heard in the streets.

Perhaps, some of the several does not know about Christmas. They just exist to celebrate, to practice what was used to be done.

However, it is important for one to learn the important points and thought behind this important occasion for Christians.

Teaching about this should b e done more importantly in school.

It could b e exec uted, perhaps while observing the children do their Arts project (lantern, for example), it is better for the teacher to retell to her students the history of Christmas, its importance and why each of them is celebrating it.

The essence of being in school is for children to learn and outgrow ignorance, especially when it comes to the tradition that they have already grown up with.

WITH THE TEACHERS OF GINGOOG CITY – GOVERNOR BAMBI EMANO, VICE GOVERNOR JOEY G. PELAEZ and Former Board Member JIGJAG PELAEZ join DepEd Gingoog City Schools Division Superintendent DR. MYRNA T. CASTAÑOS during the opening ceremonies of the National Teachers’ Month at Duka Bay Resort, Medina, Misamis Oriental.

National Teachers’ Month is a celebration for the unique role and service that teachers play in guiding families, strengthening communities and building the nation. Vice Governor Pelaez facilitated some parlor games and gave prizes to the teachers. He was the Executive Director of DepEd Center for Students and Co-curricular Affairs of the Department of Education Central Office for more than 17 years before he was elected as Vice Governor of Misamis Oriental. photo supplied

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sat-sun|September 19-20, 2015

Fusion Resto Café opens at the New Consortium

S

o what’s so excitable about another new resto café?

For starters, Fusion Resto Café is situated at the 2nd floor of the new Consortium Building, that new edifice just before the Gaisano Mall parking lot entrance which may be the newest entry to the “Where It’s At” ticket of places to be in Cagayan de Oro, following in the footsteps of Lifestyle District and Grand Central.

For its opening last Sept. 18, the five partners ramped up the excitement with free “Love Locks” for the first 8 customers and a pitcher of free Margarita with every order in the evening!

Students from nearby schools can enjoy their student meals priced affordably starting P60160. Other favoritesto-be include rice toppings, lechon belly, all day breakfasts, sandwiches, pasta,

quesadillas, chicken wings, veggie specialties like harvest salad and their delish fish salad and boneless lechon which is available whole, in halves and quarters.

But the specialty of the house are its yummy desserts served in sizzling hot plates like brownies and banana split.

The interior and furniture is a fusion of classic and modern trends with the “palo china” furniture and wall accents bringing the diverse elements together in a common thread.

Fusion Resto Café is a partnership between long-time friends Mynfa Neri Puao, Antoi Neri, Yasmin Ramuros, Ivy Salcedo and Una Bocao.

Fusion Resto Café opens 10am10pm Mondays to Wednesdays and 10am to 1am Thursdays to Saturdays. For inquiries and reservations call mobile# 0927-612-2111 or 0927-498-4470.

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BusinessWeek MINDANAO

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Growth... from page 1

which is sustained by several economic reforms.

“The countr y is in a sweet spot. We have been experiencing robust economic growth, consistent upward rankings in competitiveness, and successive credit rating upgrades. In fact, last year, the Philippines achieved an average growth rate of 6.3%, the highest five-year average during the past 40 years.

That’s a very decent number which is probably one of the highest growth rates in this part of the world,” Domingo said in a statement during the recently held Wharton and Penn Alumni Association meeting.

He noted that based on projections by HSBC and Goldman-Sachs, the Philippines will be ranked as the 14th largest economy in the world, the 5th largest economy in Asia and the largest economy in the Southeast Asian Region by 2050.

“We are even poised to surpass other ASEAN countries. We only need to step up our efforts to improve the competitiveness and capability of our various local industries, as we participate in regional and global trade,” Domingo added.

Furthermore, initiatives to liberalize the country now and then significantly contribute to the steady growth of industries.

In particular, the country’s manufacturing sector has been reported to be growing at an average rate of 8.8% yearly as a result of the diversif ication of lo cal products and liberalization.

Domingo also emphasized the need to place micro, small and medium enterprises (MSMEs) at the front and center of regional trade agenda. In the Philippines, MSMEs account for about a third of the gross domestic product, represent 98% of all registered businesses, and employ more than 50% of the entire domestic workforce.

“Among our key priorities is advancing specific and concrete interventions to promote the participation of MSMEs in regional and global markets, either through global value chains (GVCs) or as direct exporters of finished goods and services. We are quite successful in doing so during the APEC Ministers Responsible for Trade (MRT) meeting. Member economies agreed to bolster the ability of MSMEs to participate in cross-border business through the ‘Boracay Action Agenda to Globalize MSMEs,” he said.

The DTI Secretar y also said the government continues to invest on infrastructure.

“Believe it or not, even though we have this terrible traffic, we do invest in the right infrastructure. We have tripled our infrastructure budget from around P165 billion in 2010 to P535 billion this year. That explains why

we now see many trains, bridges, much better roads, and skyways. Traffic will not get better much soon. But, by the end of next year, we will already feel the benefits of an improved infrastructure system,” he said.

Moreover, Domingo said all of these endeavors are in line with the government’s efforts to accelerate trade and invest ment in t he region while creating an enabling environment for businesses to prosper, as well as, ensuring that every Filipino participates and seizes opportunities in the global market.

Farming... from page 1

of the El Niño phenomenon in the region,” Bugacia said.

Bugacia said that the usual rice planting practices in the planting of the rice crops twice in a year only. Thus, between the November to April dry season and the May to October wet season.

He said that the cropping technique requires farmers to open a new 120-day window for third cropping between the two seasons (wet and dry) so they could have an additional season worth of harvest.

Most of the rice crops in Region 10 are confined in the lowlands, planted in 30,000 hectares. Of these, 17,000 hectares are located in Bukidnon while the rest are distributed to the rest of the provinces of Misamis Oriental, Misamis Occidental, Camiguin and Lanao Del Norte.

The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) had earlier forecast that the El Niño episode will last until April 2016. (PNA)

Hurst... from page 4

guilt to Jesus and ask Him to forgive us. He’s the only One Who can! Jesus said that He’s the only way to a right relationship with your Maker and lasting peace of mind. So the good news is you don’t ever have to live with or be haunted by guilt again! So today, why not ask Jesus for His gift of forgiveness and new life? You’ve nothing to lose and everything to gain!

Just Think a Minute…

Resto... from page 5

a 200-square meter area.

As we operate the Zoofari he said they have accommodated an average 15,000 to 20,000 children monthly.

“We offer our facility also for free to orphanages here so these children could play with unlimited time,” he said.

York added they have re c e ive d go o d re v i e w s especially among parents.

He said there are no video games inside because “we wanted the kids to just play”.

“What we offer in our

facility is for the children to develop healthy lifestyle,” he said.

York said they saw in Davao an opportunity where they can create an area beneficial to both parents and the children. (PNA)

Del Monte... from page 5

with the Philippines-based Del Monte Pacific holding the rights to the Del Monte brand in the Philippines, in the Indian subcontinent and in Myanmar. It is controlled by the Campos family’s NutriAsia Pacific Ltd. That deal with the US foodmaker gave the Philippine company rights to the Del Monte, Contadina, S&W and College Inn food brands in the US. BACK IN THE BLACK? Despite challenges brought about by the El Niño phenomenon, Del Monte Pacific is expected to return to profitability in the current fiscal year, backed by higher sales and cost management initiatives.

“It affects all companies that are growing fruits, vegetables and others. It affects everyone,” Mr. Sison said.

“We are addressing El Niño through our land preparations, which is very important, and restoring the health of the crops,” he added.

NFA... from page 6

launching and ribbon cutting of NFA’s “Food Guardian” Campaign Sign-up Booth at the Surigao City Public Market and Surigao City State College of Technology (SCCT) campus at 10:00 a.m., and the lighting of NFA Signage and Rolling down of Food Guardian Banner at 6:30 p.m. to be held at the NFA Provincial Office, Km. 10, Barangay, Quezon, this city.

The said celebration is pursuant to Presidential Proclamation 1058 issued on August 20, 1997 declaring the period September 2026 of every year as Grains Industry Week Celebration.

Watershed... from page 6

services provided by the natural environment.”

She added that wellfunctioning ecosystems provide services that are crucial to human survival such as clean air, pest and disease control, carbon sequestration and storage, controlled greenhouse gases, productive soil, and power sources.

The need to implement PES is bolstered by the findings of the study which revealed watershed degradation in various parts of Mindanao, Libungan included, caused by unregulated agricultural d e ve l opm e nt an d e c o tourism, illegal logging, population encroachment, and poverty of communities within the watershed area.

The Libungan Watershed

is at risk for water pollution, land use change, soil erosion, siltation, flooding, and the lowering of Libungan River’s water level. Unregulated human activities are putting pressure on the watershed’s sustainability, specifically the quality of its water and landscape, as well as water availability.

Guided by Mindanao’s ro admap to p e ace and development, Mindanao 2020, MinDA seeks to address e c o l o g i c a l l y - d i s t re s s e d areas in the island-region as it promotes a dynamic, inclusive, and green economy.

It is a goal of Mindanao 2020 to implement PES in all major watersheds in Mindanao by 2030.

MinDA hopes to replicate PES initiatives in other River Basins in Mindanao as inspired by the two PES success stories: the LGU of Naawan and the Miarayon-Lapok-LironganTinaytayan Tribal Association (MILALITTRA) in Bukidnon.

The Mt. Kalatungan Range Natural Park benefits f rom PES t hroug h t he successful collaboration of the Cagayan de Oro River Basin Management C ou n c i l ( C D O R B M C ) , Xavier University-Ateneo de Cagayan, and the tribal group MILALITTRA. Study on PES is conducted t hroug h t he Mindanao Knowledge Center (MKC) of MinDA that provides evidence-based policy researches for Mindanao’s sustainable development, in support to the MindaNOW! Nu r tu r i ng O u r Wate rs Program or MindaNOW. One of MinDA’s flagship pro g r ams , Mi n d a NOW integrates and harmonizes all watershed management and protection efforts in the island-region, with the PES as one of its support programs.

(PNA)

BPI...

from page 7

advantage of low interest rates to take a lot of the leverage they needed last year, so they stopped that. But that doesn’t mean there isn’t corporate need this year, except that last year, a lot of corporates really took advantage of very benign conditions and good growth rates,” he added.

Meanwhile, the BPI chief noted that the bank expects its growth this year to come from “all sectors.”

Earlier, Mr. Consing said the listed lender sees a “balanced growth” for BPI in 2015, with interest and non-interest income seen growing at around the same pace.

BPI posted a P4.431 billion net income in the second quarter, slightly up from P4.426 billion seen a year ago as narrower spreads and higher funding costs dulled trading gains and the strong results from its core lending business.

The listed lender’s secondquarter income growth boosted the its first-half performance, with the bank

posting P9.3 billion in net earnings in the January to June period, up 16% from the year-ago level of P8 billion.

BPI has at least 810 branches and over 2,000 automated teller machines nationwide.

Banana... from page 8

Vietnam, however, admits it is actually in short supply of bananas for export. Its preservation technology has yet to meet international requirements, and only a relatively few Vietnamese products have been licensed to penetrate the high-end markets, including t he Japanese market.

Philippine banana exporters are seeking help from agriculture and trade and industry officials to

11

2014 ppi’S Best in ENVIRONMENTAL Reporting

negotiate for preferential or zero tariff with importing countries.

As of 2013, banana is the most imported fruit in South Korea as it accounted for 48.7 percent of the total fruit imports. The Philippines accounted for 98.7 percent of the imported bananas.

S o o n , m a ny e x p o r t products of Vietnam to South Korea will be tariff-free, as it is already enjoying tariff-free status in Japan.

O b s e r ve rs f rom t he agriculture sector are wary that the banana industry might be the next agricultural product to lose its dominant position in the world market following the export decline of sugar, coffee and coconut oil. All these three products used to be big players in their respective world markets.

(PNA)

CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739 CARMEN BRANCH Vamenta Blvd., Cagayan de Oro City Tel. # (088) 231-2011

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