BusinessWeek Mindanao (September 19, 2016)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 046

Market Indicators

As of 6:10 pm september 16, 2016 (Friday)

FOREX

PHISIX

US$1 = P47.72

7,553.76

15.5 cents

X

X

154.66 points

Briefly Power contract denied THE Energy Regulatory Commission (ERC) dismissed 11 applications power supply agreements found to be legally defective.

These 11 applicants are BILECO and GNPD; LUELCO and GNPD; COTELCO and WMPC; CASURECO IV and ULGEI; CEBECO I and MPGC; DANECO and SMCPC; SIARELCO and SMCPC; CEBECO II and MPGC; MORESCO I and SMCPC; ZAMSURECO I and SMCPC; and NUVELCO and SMEC have all failed to meet the requirements for the certification of Non-Forum Shopping.

In connection with the ERC rules, applications for approval must be accompanied by verification. The aforementioned applicants all failed to comply, ERC said.

YOUR Mindanao-wide BUSINESS paper

RELIABLE

IN-DEPTH

DOE seeking NGCP’s view on power hike www.businessweekmindanao.com

T

By BWM News Bureau

HE Department of Energy is asking Mindanao Grid systems operator National Grid Corporation of the Philippines (NGCP) to explain why it is apparently forcing Mindanaoans to buy more expensive electricity by not making available the much cheaper power from the island’s hydroelectric power plants.

This arose after DOE Undersecretary Benito L. Ranque paid a spot visit to the Pulangui IV hydroelectric plant in Maramag, Bukidnon last week.

“I found out that the entire output of this plant has been set aside as ancillary reserve by the grid operator,” ngcp/PAGE 7

DOE Usec. Benito L. Ranque addresses participants to the round table discussion on the Social Development Framework for the Energy Sector.

NCCC to build P1-B mall

By CARMELITO Q. FRANCISCO, Correspondent

DAVAO City -- Homegrown New City Commercial Corp.

(NCCC) has broken ground for its P1-billion shopping mall project, its 4th in the city, in an area where residential communities have been

Best Mindanao products DAVAO City -- The best products and must-visit destinations of Mindanao will be featured in the four-day Sabah International Expo (SIE) 2016 to be held from September 16 to 18 at the Sutera Harbor Resort in Kota Kinabalu, Sabah, Malaysia.

Marilou Ampuan, secretary of Meetings, Incentives, Conferences, and Events (MICE)Davao, said the Philippines Pavilion in the exposition is a joint effort of representatives from the Department of Tourism (DOT), Department of Trade and Industry (DTI), Department of Agriculture (DA) and the Bureau of Fisheries and Aquatic Resources (BFAR).

Ampuan, who will be representing the tourism sector, said products from Mindanao will be promoted under the island and highland tourism banner given that SIE is an appropriate market to also promote Halal tourism.

P15.00

Monday | September 19, 2016

mushrooming. “ The are a is h i g h ly residential with lots of subdivisions within the four kilometer radius of the mall,” said Althea D. Lucas, nccc/PAGE 7

COLOR RUN. Participants of a fun run in Iligan City exchange throwing of colored powder early morning Saturday (17 Sept 2016). The Color Run, backed by the Catholic Church, is among the many activities in the runup for the feast of St. Michael on Sept 29. MindaNews photo by Bobby Timonera

Banana industry seeks financing aid for farmers, fisherfolk from gov’t

By MINDANEWS

GENERAL Santos City -Banana industry stakeholders in Region 12 are pushing for the reopening in the

region of a government credit facility for small farmers and fisherfolk.

In a res olution, the

Soccsksargen Banana Industry Council (Sobic) urged the Department of Agriculture central office, through Secretary Emmanuel banana/PAGE 7

NCCC Mall, owned by diversified LTS Pinnacle Holdings, Inc., has supermarket operations, breads and pastries production and distribution, as well as health, pharmaceutical, and hardware retail.

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

Economy 2 NYC to localize youth devt plan approach A

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

Monday|september 19, 2016

R E G I O N A L consultation workshop was held in Cagayan de Oro city on 15 September, to come up with a comprehensive d e v e l opm e nt p l a n for t h e y out h . T h e i d e a s , inputs, and good practices gathered will form part of the Philippine Youth Development Plan (PYDP) 2017-2022.

N a t i o n a l Yo u t h C ommission (NYC) Assistant Secretar y Earl Saavedra said the activity intends to sustain the vision for the youth, pursue its goals and reset the priorities.

“PYDP is anchored on three major blueprints, the United Nations Program of Action for the Youth, Sustainable Development Goals and the Philippine

Development Plan, to achieve something worthwhile,” Saavedra said.

It is the agenda of the NYC to institutionalize the implementation of the PYDP, acknowledging the

youth’s lack of ownership to the blueprint, he stressed that development through localization which is part of the concept of federalism, is the way.

“Perhaps they do not

reaches even to the level of the grassroots,” he added.

Asec Saavedra likewise pointed out that youth development is the agenda of everyone and that in the roll out implementation

or institutionalization of PYDP they need the passion, creativity, determination, consistency and courage of the duty bearers, youth leaders and partners. (JCV/ PIA-10)

Bukidnon is top seller in Normin’s ‘Kahimunan 2016’ MAL AYBAL AY City — Bukidnon exhibitors were top sellers in the recent “Kahimunan (Creations of Northern Mindanao) Trade Fair 2016.”

Par ticipated by 29 entrepreneurs from Bukidnon Micro, Small and Medium Enterprises (MSMEs) and all other MSMEs of Northern Mindanao’s five provinces, the trade expo’s combined record sales are closing in on P2,508,420.89, of

which Bukidnon generated P917,378.89 total sales.

Department of Trade and Industry Bukidnon Provincial Director Ermedio J. Abang said overall trade fair sales report ranked Bukidnon as the top seller among four other provinces in Northern Mindanao, sharing 37.92 percent of the region’s more than P2.5 million total sales.

B u k i d n o n’s R u s t i c Wo o d w o r k g o t t h e highest sales among all

RPN Radyo Ronda Stations Nationwide

CNN Philippines Stations Nationwide CNN Philippines TV-9 Manila CNN Philippines TV-12 Baguio CNN Philippines TV-12 Dagupan CNN Philippines TV-26 Tarlac CNN Philippines TV-10 Iriga CNN Philippines TV-4 Iloilo

know or understand what it intends to do for them, perhaps they don’t see how PYDP could champion their interest. The intention is very simple, for everyone to feel that development

CNN Philippines TV-8 Bacolod CNN Philippines TV-9 Cebu CNN Philippines TV-5 Cag. de Oro CNN Philippines TV-5 Zamboanga CNN Philippines TV-7 GenSan CNN Philippines TV-9 Davao

DZBS 1368 Baguio DZRL 639 Batac DZTG 621 Tuguegarao DZKI 1332 Iriga DYKW 936 Binalbagan DYKB 1404 Bacolod DYKC 675 Cebu DXKO 1368 Cagayan de Oro DXKS 1080 Surigao DXKD 1053 Dipolog DXKP 1377 Pagadian DXXX 1008 Zamboanga DXKT 1071 Davao DXDX 693 General Santos

exhibitors. The B ounty Food, meanwhile, ranked 4th, Miel Internacional Inc. ranked 5th, San Fernando Craft Makers and other Bukidnon crafts ranked 8th and Alomah’s Place ranked 9th.

Abang said, of Bukidnon’s P917,378.89 total sales, P748,813.89 is cash sales, while P225,565.00 is under booked/negotiation sales.

“This Kahimunan 2016 was organized s o t h at i n du s t r i e s for entrepreneurs can showcase and demonstrate their latest products and services, meet with industry partners and customers, study activities of competitors, and examine recent market trends and opportunities,” he said.

Bukidnon’s best products

like drift wood furniture of Rustic Woodwork; bamboo craf t of San Fer nand o Craft Makers Association; native abaca-based craft & indigenous woven mats of various Bukidnon craft makers; pure honey of Miel Internacional Incorporated; fresh organic veggie, salad and dressing of Alomah’s Place; and processed food products of various MSMEs under Bukidnon’s Bounty food products were all featured at the expo.

The e vent aime d to provide MSMEs an avenue for selling and promoting their products to access new and bigger market.

‘Kahimunan 2016’ featured Northern Mi nd ana o’s abu nd anc e by showcasing the best

products of its five provinces: Bukidnon, Camiguin, Misamis Oriental, Misamis Occidental and Lanao del Norte.

Displayed products also include gifts and housewares, fashion accessories, processed food, beverages, home style and living, health and organic products, and furniture.

T h i s y e a r ’s 1 0 - d a y “Kahimunan Trade Fair 2016” was held in later weeks of August at SM City, Cagayan de Oro. This is a yearly marketing event organized by the Department of Trade & Industry in region 10 and is a component activity of the Higalaay Festival—the city’s fiesta celebration. (Laurence D. Pradia, DTI-Bukidnon/ RLRB, PIA 10-Bukidnon)

35 young leaders in ARMM to take part in leadership MARAWI CITY, Lanao del Sur -- Around 35 youth leaders from different provinces of the Autonomous Region in Muslim Mindanao (ARMM) will undergo a series of learning experiences in different key cities in the country starting this week.

This, after the Office of the ARMM Regional Governor, the Eisenhower Fellows Association of the Philippines, and the Ayala Foundation Inc. launched the

2016 Bangsamoro Young Leaders Program - Leadership Communities(BYLP-LeadCom) on September 11, at the ARMM Compound in Cotabato City.

BYLP-LeadCom is a yearlong leadership platform that aims to empower young leaders to respond to the rapidly changing solutionsbased leadership in the context of thematic areas of health, education, livelihood, and peace.

Following the month-long

learning circuit, the young leaders will then proceed to the project implementation where they will be directly engaged in transforming their own communities across Bangsamoro as an opportunity to strengthen their newly acquired skills.

The BYLP-LeadCom started out as Bangsamoro Young Leaders Program in 2015 with 28 fellows from the province of Basilan. (BPI/APB/PIA-10)

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

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

Monday|september 19, 2016

3

4

Opinion

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

Monday|september 19, 2016

What a (tax) relief !

Businessweek Mindanao Corporation Publisher DANTE M. SUDARIA President/CEO

ALLAN mario MEDIANTE

Vice President for Corporate Affairs

Joe felicilda

Vice President for Administration

joe palabao

Vice President for Marketing

NELSON CONSTANTINO Editor-in-Chief

Cheng ordoñez

gilbert y. chao

Executive Editor

Motoring Editor JOEL ESCOL

BONG FABE

Feature Editor

Associate Editor

CLIFFORD SANTILLAN Layout Artist

JUN AYENSA

sandra encoy

Regional Editor Caraga

Advertising

ATTY. MARIO T. JUNI

Cris diaz mike baños Uriel quilinguing Contributing Editors

Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO Legal Counsel

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

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City.

It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463826-272-000 – VAT. Reg., and with Business Permit No. 201512879. Tel. Nos.: (088)8578447, 74-5380, 0923-432-0687, 0917-7121424 Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com

Member: Philippine Press Institute Oro Chamber

Certeza prevented me from storming Makati City hall in “righteous anger”.

Certeza wrote: “We have investigated the matter and confirm that you are correct. The lot in question for which you are being assessed is not yours anymore and you should not be billed for payment of real estate taxes as you complained.

The new owner will b e the one who will be sent notices to settle the tax liability in question.

“Based on our investigation, this unfortunate matter came about due to a miscommunication b etwe en our Ass ess or’s Office, Treasurer’s Office and the Register of Deeds f o r Ma k at i . T hu s , y o u were improp erly bi l le d for the real estate tax on the matter.

“We are now instituting m e a s u re s t o p re v e nt a repetition of the problem.

We assure you you will not be receiving any notices for this particular land.

“We apologize sincerely for any aggravation that we have caused to you.”

Apology accepted. But what continues to puzzle me up to now is how and why a miscommunication like this (in a highly computerized LGU) could go uncorrected for 19 years.

Unique diplomacy Going by the standard book, Philippine c a r e e r d i p l o m at s f e e l uncomfortable with the way the President acts and speaks in the international stage. But then, this leader is not the standard president.

Yes, there are norms a n d t h e re a re r u l e s of diplomacy. But who made those rules? Do the rules say that the leader of a small nation will always have to take it sitting down when publicly lectured on by the leader of a powerful nation? Do the rules say that one always has to be polite to the point of appearing and sounding subservient?

His unique diplomatic stance has definitely raised eyebrows, ruffled some feathers but at the same has elicited admiration and awe from others.

Political analysts have a re a l ly d i f f i c u lt t i me dissecting President Rody.

What makes him tick and what does not? From the peanut gallery, here is my take on President Rody’s style: Here is one president is w ho is a ver y proud Filipino, who considers the Filipino inferior to no race.

Here is one president who is ready and willing to challenge the relevance

SPEAKING

O ut

Ignacio Bunye of institutions, as well as established traditions and practices.

Here is one president who will fight back, if he is threatened.

Here is one president who has balls, who says what he means and means what he says.

Here is one president who is laser-focused on his promised unrelenting war on drugs and corruption.

To o b ad for you if you get in the way of his accomplishing these twin tasks.

Only time will tell if this unique style will work but for everybody’s sake I hope it will.

You don’t like his style?

Let me venture this guess.

He does not like yours, too.

Note: You may email us at totingbunye2000@ gmail.com. You may also “like” us on Facebook at “Speaking Out”.

Duterte wants traffic woes solved ASAP

Bring out the best Think a minute…Winston Churchill was 65 years old when he first became England’s Prime Minister.

It was May of 1940 and England’s military was not well armed or prepared for war. So when Hitler’s huge, powerful German army was planning to attack the British Isles, most military experts expected Germany to easily defeat England in no time.

But these experts could not imagine that in only 7 months, Winston Churchill would change the history of England and the entire Western World. During those 7 months, when the families of Great Britain gathered in their living rooms to listen to their leader over the radio, their feelings of fear and hopelessness were soon replaced by great confidence, hope, and victory. Why? Churchill knew just how to get the English people to believe in themselves—in their own cause and abilities.

And defeating Germany’s p ower f ul army b ecame England’s finest hour!

It’s been said: “People who feel good about themselves do their best.” Whether it’s at work on the job, at home with their mate and children, or with friends. So if you want people to change, you’ve got to help them believe

At long last, I have been “cleared” of a P3.7 million realty tax liability which I supposedly owe Makati City. I wrote about it in a previous column.

The Makati City Realty Ta x d i v i s i on h a d b e e n sending me notices (“First”, “S e c o n d”, “ T h i rd” a n d “Final”) for unpaid taxes, plus penalties, which date back to 1997. Each time, I responded that I no longer owned the property, having sold it in 1980.

Unknown to me at the time that I wrote my “final reply” to the Makati City Realty Tax division, the property, situated along EDSA, had been advertised for sale in a newspaper of general circulation because of my supposed tax delinquency. A concerned relative relayed the information to me when he read my article.

OMG ! Ano na l ang ang sasabihin sa akin ni BIR Commissioner Billy Dulay (my frat brod) at ni dating Commissioner Jojo Buñag (my former cl a ss m ate ) ? A n d w h at about my bank colleagues?

Negative information like this ver y quickly spre ads in t he ban king community in view of the credit information sharing system which is in place.

O n ly a t imely e mai l message from Makati City Administrator Claro

THINK

A Minute

Jhan Tiafau Hurst in themselves so they will want to change and do their best. But when we criticize and shame our children, our wife or husband, or people we work with, we only hurt them and tear down their self-confidence. So why should we expect them to do better when we’ve made them believe they can’t!

We all do our best when we feel good about ourselves.

That’s why a successful businessman says: “Instead of catching people doing something wrong to criticize and punish them, try to catch people doing something right and praise them for it. Then they will want to keep doing that right thing and always do their best.”

This is why Jesus Christ commands us to love others as yourself. Make others feel hurst/PAGE 11

LIFE’S INSPIRATIONS: “… W h o i s w i s e a n d understanding among you?

Let them show it by their good life, by deeds done in the humility that comes from wisdom…” (James 3:13, the Holy Bible).

-ooo D U T E R T E WA N T S TRAFFIC WOES SOLVED ASAP: If the Duterte government can have its way, it wants to solve the gargantuan traffic mess that Metro Manila and other urban centers are experiencing nowadays as soon as possible, because President Duterte would like all key administration officials, including himself, to be travelling to their places of work by bus or any other means of public transport.

Former Land Transportation Office chief and Land Transportation Franchising and Regulatory Board chairman Bert Suansing made this disclosure Friday, September 16, 2016, d u r i n g t h e f e l l ow s h i p meeting of the Rotary Club (RC) of Intramuros Manila (District 3810 of Rotary International) at the Aloha Hotel in Manila (see www. facebook.com/attybatas for the photos of the fellowship).

Speaking upon the invitation of RC Intramuros All Star President Judge Angelina Mauricio, Su ansing s aid of f icia ls o f t h e D e p a r t m e nt o f

Transportation (DOTr) led

by Secretary Art Tugade are now furiously mapping out tactical strategies to either minimize or altogether remove the long queues of motorists who have to crawl through Metro Manila roads day in and day out, especially during rush hours.

Suansing and Tugade were seen together at the House of Repres ent at ives last Thursday, September 15, 2016.

-ooo HEAVY VOLUME OF V E H I C L E S C AU S I N G TRAFFIC WOES: Then again, how do we really solve the traffic problem in the National Capital Region whose root cause now, whether we believe it or not, is the extremely very great number of vehicles that are plying streets whose size or number have remained constant or the same through the years?

Metro Manila is the center of life for the whole country. It is the seat of government, and the nation’s economy revolves around the financial centers in its different cities. Education for almost all Filipino students are dished out in the universities that are scattered in its four corners, and it is here where ekeing out a living seems most easy.

It is no wonder then that people come to Metro Manila and make it their home, or

their place of work, or their source of education. As a consequence, more vehicles are required to ferry them around, so that more and more cars, vans, trucks, and other modes of transport are compelled to converge in roads and thoroughfares which seem to be shrinking every year.

-ooo DECONGESTING NCR: ONLY SOLUTION TO TRAFFIC WOES: So, how do we solve the daily problem that is heavy traffic in Metro Manila? The most immediate remedy is the decongestion of the place by taking government offices and educational institutions out, transplanting them to nearby provinces like Pampanga, Bulacan, Nueva E c i j a , Ta r l a c , B a t a a n , Zambales (all in Region 3), or Cavite, Batangas, Rizal and Laguna (in Region 4 or 4A).

President Duterte has already shown the way in this direction. I mean, he is now holding office in Davao City in Mindanao several days a week, discharging the duties and responsibilities of the presidency, and conducting his me et ings and e ven press conferences there, and nobody is complaining.

In fact, people who want to deal with him and with the government are only too happy to follow him in Mindanao.

K akampi

Mo A ng Batas

Atty. Batas Mauricio Now, this pattern can be imitated and implemented insofar as other government agencies are concerned. I am sure that those who deal with these agencies would not complain even if they transfer their offices outside of Metro Manila.

Yes, the agencies’ officials and employees may initially grumble about this, but they will get used to their provincial assignments as time goes by, or they could avail of early retirement.

-ooo PLEASE LISTEN: “Ang Tanging Daan” (The Sole Way): a Bible study and prayer session online could now be heard, 24 HOURS a day, in the Philippines and the world at www.facebook.com/ angtangingdaan or www. facebook.com/ANDKNK (and look for “Ang Tanging Daan” broadcasts). Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

5 Globe, Kiva create Ayala looking into power, sustainable livelihood overseas acquisitions A Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Monday|september 19, 2016

FIFTY-eight year old Josefina from Trinidad, Bohol only had P15,000 in savings when she started her small sari-sari store in 1999.

Want i ng to supp or t the growing needs of her nephews, being single herself, Josefina requested P20,000 which she used to expand her business and attract more customers. She received financial assistance from 15 individual microlenders via one of Kiva’s Field Partners, C o m mu n i t y E c o n o m i c Ventures, Inc., which provides not only loans but training and insurance coverage as well.

C ebu-based Shayne Mae, on the other hand, is a hardworking entrepreneur who also needed additional funds to use as a working capital for her clothing sales business.

With the assistance of eight individual microlenders under another Kiva Field Partner, Negros Women for Tomorrow Foundation (NWTF), Shayne Mae was able to borrow P11,999 to sustain her business. She dreams of saving enough money to send her children to college and renovate her family home.

Josefina and Shayne Mae are just two of hundreds of Filipinos which Globe Telecom and international non-profit organization Kiva are crowdfunding

CorporateWorld

loans to create sustainable livelihood opportunities for the underserved population in the country.

San Francisco-based Kiva is an online crowdfunding p l at f o r m t h at e n a b l e s anyone in the world to make a microloan to micro enter pr is es in over 80 countries in the areas of agriculture, food, retail, and services in a bid to alleviate poverty. “ This high impact partnership between Globe and Kiva enables Filipinos to support Filipinos in a sustainable and empowering way. We’re thrilled to continue our partnership with Globe, Kiva’s first corporate partner in Southeast Asia, and we look forward to all that we will accomplish together moving forward,” says Karen Little, Kiva’s Director of Development for the US and Asia.

Through GCash mobile money service and Globe Rewards, millions of Globe customers can now make a difference in the lives of micro-entrepreneurs.

“Glob e st r ives to provide sustainable livelihood opportunities by offering marginalized micro-entrepreneurs new possibilities for prosperity through ICT. We want to assist those who are currently at the base of the pyramid by globe/PAGE 11

YALA Corporation is scouting for acquisitions in the power, water and real estate spaces overseas including Indonesia.

The f irm also plans to boost investments in automotive and education.

Ac c ord i ng to Pa ol o Borromeo, Ayala’s managing director, it is very conducive for the company to establish its presence in Indonesia, as its demographic dividend is similar to the Philippines.

Borromeo said, “we’re looking for acquisition

opportunities in the power space to grow our portfolio, hopefully diversify it in terms of thermal versus renewable capacity.”

He said they are also open to “looking at opp or tu n it ie s ove rs e as including Indonesia.”

Ayala remains bullish on the robust Business Process Outsourcing industry despite offloading its 58.7-percent stake in Integreon, Borromeo said.

The firm plans to keep its digital and human resource outsourcing companies.

In their view, they’d prefer their BPO unit to evolve more into education, “and you’ll see more of us on the education side--hopefully through APEC and through our partner universities.”

It doesn’t mean, he added, that the BPO industry is on the downtrend. “In fact, we think it’s very much an important piece of the Philippine economy. It just doesn’t feel right for us as an investor to be in those assets just because of the value opportunities in the business.”

The group is still keeping Affinity Express and HR Mall, he said.

Tw o w e e k s a g o, h e recalled, they announced “t hat we a c qu i re d Vi a Optronics through IMI, so all I can say is that there are [several] “more in the pipeline we’re working on.”

“And it spans the entire value chain so maybe look for us to hopefully make a few more investments before the year ends.”

Borromeo declined to comment if Ayala will bid for Chevron assets in Asia.

ABOITIZ Power Corp. has officially entered into a twoyear retail power supply contract with JPark Island Resort and Waterpark in LapuLapu City, Mactan.

Ab o i t i z Po w e r c h i e f operations officer (COO) Luis Miguel Aboitiz said users like JPark, which consume at least one megawatt of power per month, can choose their own power supplier under the Energy Regulatory Commission’s Retail Competition and Open

Access (RCOA) resolution.

JPark president Justin Uy said the resort pays roughly PHP5 million to PHP7 million a month for electricity.

The contract with AboitizPower is also in light with the ongoing expansion of the resort, which is expected to increase its electricity bill.

Uy said this will be an opportunity for JPark to choose renewable energy sources in its operations.

But Aboitiz said AboitizPower will maintain

a mix of renewable and nonrenewable energy sources.

“There will be a mix of various kinds of power. We are going to supply from multiple power plants, whichever is nearest and cheapest,” Aboitiz said.

J Pa r k i s t h e t h i rd establishment to enter into a retail supply contract with AboitizPower in Cebu, after NKC Metals Mactan Economic Processing Zone 2 in Lapu-Lapu City and shipbuilder Tsuneishi Heavy Industries in Balamban

town in Cebu’s western seaboard.

Aboitiz said the RCOA scheme is a “more competitive” and “affordable” option for establishments than connecting through distribution utilities. “ This will be more competitive and more affordable because if you have the utility, normally the larger consumers with the high load factor are the ones who subsidize the ones with the low load factor. Here, there’s no more subsidy because they are buying directly from the supplier,” Aboitiz said.(PNA)

AboitizPower signs 2-year retail contract with Mactan resort

6

Banking&Finance

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

Monday|september 19, 2016

Consultations conducted to fine-tune government tax plan

T

HE Department of Finance (DOF) has b e en c ondu c ting consultations with various sectors to fine-tune its comprehensive tax reform plan prior to its final submission to Congress, Finance Secretary Carlos Dominguez III has said.

Dominguez told legislators at a House of Representatives hearing that this tax plan, which “balances policy trade-offs”, is part of the Duterte administration’s broader reform program for inclusive growth comprising seven components.

These seven components are reforming tax administration at the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC); improving governance and reforming the budget; leveling the playing field by enhancing competition; simplifying business regulations; securing property rights; promoting food security; and addressing traffic, crime and vice.

“From now until the end of the month, we are conducting a series of consultations t o f u r t h e r re f i n e t h i s proposal,” Dominguez said

at a meeting of the House of Representatives’ Committee on Ways and Means, chaired

by Rep. Dakila Carlo Cua. The DOF has consulted former finance secretaries, legislators, economists, research and advocacy groups to help finalize the tax reform plan.

“Tax reform is needed because we now have a tax system that is inequitable, complex and inefficient,” Dominguez said.

“This program which will be presented to the Congress this month will comprise four packages,” he said. “Each of the packages will correspond to a bill that balances policy tradeoffs. Other packages may be considered as needed.”

Dominguez said the structural weaknesses in the country’s tax system, which stem from several tax rates or bases that are not indexed to inflation and the grant of excessive exemptions and special treatment, continue to erode the level of collections, while highly restricted bank secrecy laws prevent revenue agencies from fully auditing and enforcing tax laws owing

to lack of information.

He pointed out that the Philippines is one of only three countries in the world with bank secrecy laws for tax agencies. The other two are Switzerland, which is now changing its laws, and Lebanon.

The Philippines, Dominguez said, imposes some of the highest tax rates in Asia, but collects the smaller amount compared to other countries.

“Collections from the BIR’s 2,300 largest taxpayers

comprise nearly half of our country’s entire revenue base,” he noted.

“All these structural issues mean that tax policy reform is necessar y to achieve the larger goals of the administration and help ensure that all Filipinos benefit from higher economic growth,” he added.

Dominguez said the proposed tax plan need not burden the poor for it to transform the current tax system into a fairer, simpler and more efficient one, while

also raising the revenues needed for the government to accelerate spending in infrastructure, human capital and social protection for the country’s vulnerable sectors.

Initial estimates done by the DOF show that the total tax reform package will generate a net of PHP368 billion, comprising a loss of PHP198 billion and a gain of PHP566 billion.

The proposed tax plan is bundled into four packages, the first being a reduction in personal income tax rates to

a maximum of 25 percent, except for the highest income earners. To offset revenue losses from these tax cuts, the DOF has proposed to limit the exemptions to the value added tax (VAT) to only raw food, health and education; increase excise taxes on petroleum products and keep these in pace with inflation; levy taxes on sugary drinks and index these to inflation; relax bank secrecy laws in fraud cases and include tax evasion as a predicate crime to money laundering.

BPI research forecasts ebb and flow of remittances in next few months FLUCTUATIONS in the growth of remittances from overseas Filipinos (OFs) are expected in the coming months given the slower deployment of overseas Filipino workers (OFWs) and better tracking of sources of funds.

In its Market Insights issued Friday, the Ayala-led Bank of the Philippine Islands (BPI) cited the Bangko Sentral

ng Pilipinas (BSP) report on the 5.4 percent year-onyear drop on the growth of both the cash remittances last July to USD2.1 billion and personal remittances to USD2.4 billion.

This was traced to the 10.3 percent deployment shrinkage of land-based OFWs and 44.4 percent drop in sea-based workers during the seven-month period.

”This was the last negative print since Nov. 2015 as seasonality of remittance appears to be shifting, given adjustments in school year timing as well as BSP’s ongoing efforts to effectively tag remittance sources,” the research note said.

As of end-July this year, cash remittances coursed through the formal sector amounted to USD15.3 billion,

up three percent compared to the USD14.9 billion year ago.

Personal remittances, which include in-kind inflows, amounted to USD16.9 billion, up 2.9 percent from year-ago’s USD16.4 billion.

The research explained that in the past three years, a notable decline was seen on growth of inflows from bpi/PAGE 11

Scenes from Kasalang Filipino 2016. Northern Mindanao’s Longest Running Bridal Fair. Now on its 11th year!

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

Monday|september 19, 2016

7

Billboard

CEB expands operations at the Clark International Airport The Philippines’ leading carrier, Cebu Pacific (PSE: CEB), remains committed to the development of the Clark International Airport (CIA) in Pampanga.

Beginning December 16, 2016, CEB will increase its Clark-Cebu-Clark operations from three to six times weekly while Clark-Hong Kong-Clark will be up from seven to 10 times weekly.

These additional flights may now be booked via CEB’s official website, mobile app, reservation hotlines and ticket offices.

By adding more flights between Clark and Hong

Kong, CEB hopes to further stimulate economic trade and investments from one of Asia’s largest financial hubs to North and Central Luzon. On the other hand, i nc re as e d f l i g ht s f rom Clark to the Philippines’ second largest city, Cebu, will boost domestic tourism opportunities.

CEB is the only Philippine carrier that operates flights out of Clark and has done so since November 2008.

CEB currently operates 21 flights weekly from Clark to Cebu, Hong Kong, Macau, and Singapore, utilizing 180-seater Airbus A320

aircraft. This further growth in Clark operations will increase CEB’s commitment to 27 weekly flights.

“As one of CEB’s six strategic hubs in the country, CEB will continue to grow Clark to serve the needs of North and CentralLuzon.

The additional frequencies and further investments strengthen our commitment to the development of the countr y’s airports. We

sincerely look forward to the progression of flight and ground operations at Clark as well as a furthering of incentives that Clark will offer to the carriers,” says Atty. JR Mantaring, CEB Vice President for Corporate Affairs.

Aside from operating f l i g ht s , C E B h a s a l s o established its own maintenance, repair and overhaul provider, the SIA

Engineering Philippines ( S IA E P ) , a t t h e C IA .

Incorporated in 2008, the state-of-the-art facility is a joint venture with the SIA Engineering Company of Singapore (SIAEC), and fe atures t hre e hangars t h at s e r ve to p e r for m base maintenance, line m ai nte n an c e, an d ai rworthiness approvals for CEB. The airline also utilizes

the Philippine Academy for Aviation Training (PAAT), another joint venture with the global civil aviation and defense training leader CAE, at the Clark Special Economic Zone. The training center offers type-rating and recurrency training for the Airbus A320 family.

In 2015, CEB carried over 330,000 passengers to and from Clark. The robust expands/PAGE 11

VXI Joins 2nd Indian Independence Day Friendship Golf Tournament Anant Singh, VXI VP for Operations, emerged as one of the champions at the 2nd Indian Independence Day Friendship Golf Tournament last August 12.

He garnered 69 points under Class A Grs. 92 and Below at the Orchard Golf and Country Club, Dasmariñas, Cavite, besting Khaykhamphitboune Phoxay and Poovaiah Nikhil who both collected 70 points.

Also part of the winners’ circle of the said tournament

for Class B (Grs. 93 to 104) and C (Grs. 105 and Above) are Vikram Sid with 72 points, and Bose Rajiv with 76 points, respectively.

Aside from winning the championship title in his category, Singh also received the Maximum Birdies Special Award.

Representatives f rom various BPO and Te l e c o m m u n i c a t i o n s Companies in the country came in to participate in golf/PAGE 11

(From Left to Right) Eppie Titong - VP for Operations, Phil Paik – IT Director, Barrie Bradley – Client Services Director, Jovencito Llanes – VP for Human Resources, Anant Singh – VP for Operations

Greenwich Xavier launches #5-55-55 delivery hotline

By MARK FRANCISCO

GREENWICH Pizza – Xavier branch in Cagayan de Oro joined last Wednesday its new nationwide unified deliver y hotline #5-5555 through a motorcade launch in the early morning.

According to Greenwich Xavier restaurant manager R i t c h e l Tu g a h a n , t h e delivery hotline is applicable to Greenwich Xavier and Greenwich

Gaisano branches. “If our customer comes from the western side, then we will accept the order and tap our Gaisano branch to do the delivery,” she said.

The new hotline #555-55 was launched in Metro Manila early in the year followed by the Davao City. Cagayan de Oro was the third city in the country to join the unified delivery hotline.

“We conceptualized the new hotline so it would be easy for all our valued clients to order whether

they’re using landline or cellphone,” Tugahan said.

Greenwich Xavier accepts free delivery within the confines of Cagayan de Oro for a minimum purchase of P200.

Greenwich Pizza is one true Filipino pizza chain – a small entrepreneurship that made an extraordinary leap on the big league.

What started out as a small over-the-counter pizza store in the Greenhills C ommercial C enter in 1971 is now the Philippines biggest pizza chain.

Greenwich Pizza gives you a scrumptious blend of exciting pizza and pasta innovations, all prepared for the comfor t of the Filipino taste. More than just delicious food choices, they offer to transform your everyday dining into shared delightful moments with friends.

In 2006, Jollibee Foods Corporation bought all shares of Greenwich Pizza.

The franchise experienced rapid expansion thereafter.

It h a s m ore t h an 3 0 0 outlets nationwide.

8

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

Monday|september 19, 2016

9

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

Monday|september 19, 2016

Bukidnon is top seller in North Mindanao’s ‘Kahimunan 2016’

M

A L AY B A L AY CITY, Bukidnon — Bukidnon exhibitors were top sellers in the recent “Kahimunan (Creations of Northern Mindanao) Trade Fair 2016.”

Par ticipated by 29 entrepreneurs from Bukidnon Micro, Small and Medium Enterprises (MSMEs) and all other MSMEs of Northern Mindanao’s five provinces, the trade expo’s combined record sales are closing in on P2,508,420.89, of which Bukidnon generated

P917,378.89 total sales.

Department of Trade and Industr y Bukidnon Provincial Director Ermedio J. Abang said overall trade fair sales report ranked Bukidnon as the top seller among four other provinces in Northern Mindanao, sharing 37.92 percent of the region’s more than P2.5 million total sales.

B u k i d n o n’s R u s t i c Wo o d w o r k g o t t h e highest sales among all exhibitors. The B ounty Food, meanwhile, ranked 4th, Miel Internacional Inc. ranked 5th, San Fernando

Craft Makers and other Bukidnon crafts ranked 8th and Alomah’s Place ranked 9th.

Abang said, of Bukidnon’s P917,378.89 total sales, P748,813.89 is cash sales, while P225,565.00 is under booked/negotiation sales.

“This Kahimunan 2016 was organized s o t h at i n du s t r i e s f or entrepreneurs can showcase and demonstrate their latest products and services, meet with industry partners and customers, study activities of competitors, and examine

recent market trends and opportunities,” he said.

Bukidnon’s best products like drift wood furniture of Rustic Woodwork; bamboo craf t of S an Fe r nando Craft Makers Association; native abaca-based craft & indigenous woven mats of various Bukidnon craft makers; pure honey of Miel Internacional Incorporated; fresh organic veggie, salad and dressing of Alomah’s Place; and processed food products of various MSMEs under Bukidnon’s Bounty food products were all

BJMP exhorts restorative justice for inmates

By Elaine O. Ratunil

C A G AYA N D E O R O CITY – The Bureau of Jail and Management (BJMP) promotes the necessity to restore the moral, emotional, and psychomotor aspect of the person in the jail system.

S e r v i ng a l s o a s t h e bureau’s contributions to President Rodrigo Duterte’s war against drugs, it addresses this need through its Therapeutic Community Modality Program (TCMP) which looks into the potential of an inmate.

TCMP, a holistic program, assimilates self-help and mutual help learning treatment model to enable behavioral and attitudinal change of the individual involved in the use of illegal drugs.

It involves a multi-phased

outline of treatment that ass ess es, monitors and prepares the individual for his/her integration to the community.

BJMP Region 10 assistant regional director for operation, Jail Superintendent Nestor R. Caber, during Philippine Information Agency (PIA) ‘Lambo Dyes’ radio program aired over DXIM Radyo Ng Bayan, said as a treatment model, TCMP includes four c o mp o n e nt s — b e h av i o r management, intellectual and spiritual, psychologicalemotional, and vocational and sur vival, says JSupt Caber.

He also said that skills t r ai n i ng an d s e m i n ar s that would help hone and introduce new skills are

Narrative Report on Brigada-Eskwela 2016

By Susan R. Casinabe, MT-1 Tikalaan Central Elementary School

Brigada- eskwela is a yearly school activity which involved the community in the preparation of the coming school year. During this time, different sectors in the community helped in cleaning and preparing the school so that when first day of school came, children and teachers will proceed immediately in their classes.

T h i s y e a r, B r i g a d a Eskwela started with a parade around the community. All sectors in the Barangay had their representative who joined. After the parade a short orientation program followed. Mr, Teodorico P. Casinabe Jr., the school principal thanked the parents and the community as a whole of answering the call of responsibility. Although they have obligations at their respective family still they’re in school helping the teachers in preparing the school for the children.

He also orients the BrigadaEskwela participants on what and where to go. Some were

assigned in the classrooms, others were assigned at the school ground, and still others were advised to clean the back portion of the school. Parents who brought with them carpentry tools were requested to made fences around the school so, no strayed animals can enter the school premises during classes. Some mothers were asked to made garden plots and plant some vegetables for ‘’Gulayan ng Paaralan’’.

At the last day, DPHW maintenance workers also came to help.

The said activity lasted for five days. Everyday other parents came to help until almost all the people in the Barangay participated.

The teachers also during this time were in school assisting the participants, counting books, and recording attendance of those who came.

To sum up all, the said activity is a great success and it really helped teachers and children in school.

given to inmates which would aide them when they go back to the folds of society.

The program, with the use of an assessment tool, checks the capabilities of inmates: technical skills, non-skills, administrative potential, and leadership skill.

According to JSupt Caber,

TCMP will be effective in the rehabilitation of illegal drug users in the country and the bureau wants to share it with the community.

He e mp h a s i z e d t h e need for coordination and cooperation especially in the community as it plays a big role in the restoration of the inmates. (EOR/PIA-10)

featured at the expo.

The e vent aime d to provide MSMEs an avenue for selling and promoting their products to access new and bigger market.

‘Kahimunan 2016’ featured Northern Mi nd ana o’s abu nd anc e by showcasing the best products of its five provinces: Bukidnon, Camiguin, Misamis Oriental, Misamis Occidental and Lanao del Norte.

Displayed products also include gifts and housewares, fashion accessories,

processed food, beverages, home style and living, health and organic products, and furniture.

T h i s y e a r ’s 1 0 - d a y “Kahimunan Trade Fair 2016” was held in later weeks of August at SM City, Cagayan de Oro. This is a yearly marketing event organized by the Department of Trade & Industry in region 10 and is a component activity of the Higalaay Festival—the city’s fiesta celebration. (Laurence D. Pradia, DTI-Bukidnon/ RLRB, PIA 10-Bukidnon)

Dulang Festival: Keeping the Meranao cuisine alive MARAWI CIT Y, L anao del Sur --- How you ever exp erienced Meranao hospit ality and unique cuisine?

Meranaos are known for being hospitable and their warm hospitality is best reflected in a prestige feast called ‘Pagana Meranao’ where guests are entertained w it h t r a d it i ona l d anc e performances and treated to an extravagant banquet that features Meranao cuisine.

The cuisine is showcased in a native food arrangement c a l l e d ‘ D u l a n g .’ T h e arrangement contains traditional cuisine placed on brass food trays called ‘tabak.’

The food trays are covered a Meranao tray cloths called ‘ampas’ and decorated heavily following the traditional Meranao aesthetic, with accents of gold or silver which symbolizes prestige and nobility.

Dulang is often ser ved during special occasions such as dialaga (engagement), kawing (wedding), graduations, kapapakaradiyaan (merr ymaking), enthronements, religious festivity like Eid’ul Fitr and Eid’ul Adha, and even homecomings of people who had gone to Saudi Arabia for the Hajj.

The city government of Marawi highlighted this tradition during its 76th

Charter Day Anniversary which focused on enriching Meranao culture through a Dulang Festival.

The cultural celebration, w hich aims to cher ish Me r a n a o c u l t u r e , w a s p ar t icip ate d by t he 96 b ar an g ay s of t h e c it y, public and private schools, government agencies, and civil society organization, among others.

In his keynote message, City Mayor Atty. Majul Gandamra underscored the importance the celebration to enrich Meranao culture and traditions.

He said the strong ties among Meranaos which a r e s h ow c a s e d d u r i n g cultural celebrations also help in building a peaceful community.

The Dulang Festival featured the most beautiful, best-tasting and artisticallyarranged Meranao cuisine in Marawi.

It contains dishes with unique blend of flavors and spices such as kuning (yellow rice), piyaparan (carp, mudfish, chicken, shrimp meat with coconut shavings), desserts like dodol (sticky rice in coconut milk) and browa (muffins), among others.

The Dulang is not complete without the Palapa, a Meranao condiment made of shallots, ginger, and chili peppers simmered in coconut oil. (SAMD/APB/PIA-10)

10

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

Monday|september 19, 2016

11

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

Monday|september 19, 2016

NGCP... from page 1

Ranque told participants of the round table discussion on the development of a Social Development Framework for the Energy Sector hosted by the First Bukidnon Electric Cooperative Incorporated (FIBECO) on the same date.

“Mindanaoans are in effect constrained to pay for much more expensive electricity from coal and oil fired power plant while cheaper electricity from the hydroelectric power plants are effectively removed from the grid by allocating them as ancillary reserve,” Ranque noted.

The energy executive said he learned that even if Pulangui IV had a much higher available capacity to deliver beyond what was required by NGCP as ancillary reserve, the system operator dispatcher based in Iligan always dispatches a much smaller amount so the plant frequently has to dump water without passing them through its turbines to produce what should have been cheaper electricity for Mindanao power users.

The Pulangui IV power plant has three turbines rated at 85 megawatts (MW) each for a total output of 255MW. However, Ranque learned it was constrained by the orders of the systems operator dispatcher to dispatch a much lower amount than what the plant was nominating (i.e., informing them of the capacity available for electricity production for the day).

“Sometimes we had to dump water as frequently as two to three times a week without passing them through the turbines,” a plant personnel who requested anonymity disclosed.

Although it was the last of Mindanao’s hydroelectric plants to be commissioned (the last unit being commissioned in June 21, 1986), it still only costs P1.50 to produce a megawatt of electricity, compared to as much as P5.40/MW produced by the FDC Misamis Coal plant in Villanueva, Misamis Oriental and the Mt. Apo Geothermal whose output the same company now markets at P5.18/MW. Distribution utilities buying power from the hydroelectric plants in the Agus-Pulangui hydroelectric power complex and its remaining thermal power plants now operated by the Power Sector Assets & Liabilities Management (PSALM) Corporation only pay P2.87/KW. “By withholding the output of Pulagui IV in the guise of keeping it as an ancillary reserve, the Mindanao grid system operator has in effect colluded with generating companies to force private distribution utilities, rural electric cooperatives and directly connected industries to p ay for much more expensive electricity from coal-fired and oil fired plants,” Ranque observed.

“Put together the way the system operator has been

deliberately constraining the output of hydroelectric plants even when its available capacity was more than what it needs for ancillary reserve, with the way the management of the PSALM had been reducing the available power from Agus-Pulangui and other government plants to its customers and you begin to have your doubts,” he added.

R anque said he will definitely ask the PSALM and NGCP to explain why such a situation was allowed to happen when thousands of poor households in Mindanao continue to be denied the benefits of electricity due to the constantly rising prices of electricity.

“The DOE should direct the NGCP to formulate generating plant dispatch pro ce dures t hat wou ld minimize the waste of electric energy from Pulangi IV,” recommended Engr. David A. Tauli, president of the Mindanao Coalition of Power Consumers, who was one of the RTD participants. “The personnel of Pulangi IV could then monitor how Pulangi IV is dispatched, and the NGCP could be penalized whenever it wastes the energy from the hydropower plant.”

Tau l i s ai d t he Gr i d Code section on Dispatch Operations only covers general principles, but not exceptions to the general rule, such as not dispatching in order to keep a hydro plant as ancillary reserve. “ The general rule in dispatching is that the lowest cost generator must be dispatched first, but this is clearly being violated in the case of Pulangi IV,” Tauli said. “The need for ancillary services is being used by NGCP as the reason for not dispatching Pulangui IV. We need to get the NGCP to specify in detail the dispatching procedures for Pulangui IV so that its potential for generation is not wasted. They will also have to specify how PSALM can be compensated when Pulangui IV is used as ancillary reserve.”

NCCC... from page 1

NCCC Malls associate vicepresident, in a press briefing on Wednesday.

M s . Lu c a s s a i d t h e investment for the new 8,000-square meter NCCC Buhangin Mall is almost the same as that for the much bigger three-hectare NCCC Mall in Matina built a few years ago because it will sport a more modern and “high-end” look.

“This may be a small area but we made sure it will be something to look forward to for Dabawenyos considering its looks and building quality,” she said.

NC C C -- ow ne d by diversified LTS Pinnacle Holdings, Inc., which also has supermarket operations, breads and pastries production and distribution, as well as health, pharmaceutical, and hardware retail -- has been known to cater to the low- to mid-level markets with its

“affordable” pricing.

“The new mall will have the same pricing as the other NCCC Malls, only the look will change,” said LTS Malls, Inc. President Sharlene Faye Lim. “ Ms. Lim said the NCCC Buhangin Mall, targeted for opening by May 2018, is part of the company’s expansion plan that also includes an upgrade of two existing malls and the construction of three more within Mindanao.

3,808 hectares, and Sultan Kudarat with 3,700 hectares.

(MindaNews)

from page 1 Pinol, to facilitate access for farmers in the region to the Agricultural Fisheries Financing Program (AFFP).

Ecclesiastes Roque Jr., Sobic chairperson, said local farmers were not able to access the credit facility as the DA channeled the funds for the area to the government-owned and controlled People’s Credit and Finance Corporation (PCFC).

He said the PCFC already closed down its office in Region 12 and has not assigned a representative for the area.

“Because of that (closure), our access to the AFFP funding was also cut off,” Roque said on Thursday at the sidelines of the twoday 2016 Regional Banana Congress here.

The government released an additional funding of P2 billion to the AFFP last year as approved under the 2015 national budget.

The funds were set for use in credit facilities for “unbanked and underbanked s e c tors in ag r ic u lture” under the Agro-Industry Modernization Credit and Financing Program.

Part of the funds were channeled to the agri-finance a n d a g r i - m i c rof i n a n c e facilities under the Land Bank of the Philippines (LBP) and the PCFC. Since the PCFC no longer covers Region 12, Roque said the funds should be transferred instead to the LBP. He said the area’s small banana farmers or those who have plantation areas of three hectares and below will greatly benefit from such move.

“There are a lot of farmers right now who want to shift to banana production but lack the required funds,” Roque said.

In Region 12, the average production cost for a hectare of banana plantation is currently at around P250,000.

DA-12 and Sobic are currently working on the expansion of banana plantations in the region to cope with the growing demand in the domestic and foreign markets.

Region 12 has around 32,800 hectares of banana plantations that produce 1,159,091 metric tons annually.

North Cotabato hosts the region’s biggest banana plantation area at 16,212 hectares, followed by South Cotabato with 9,080 hectares, Sarangani and this city with

Globe...

Banana...

Hurst... from page 4

good about themselves the way you want to feel good about yourself. So won’t you ask Jesus to forgive you for your past and for treating others wrongly? Then ask Him to start changing your heart, so you can not only become your best, but you will also bring out the best in others. Just Think a Minute… from page 5

exploring means in which they can increase their income. At the same time, we want to pave the way for other people to do something meaningful through our m o b i l e s e r v i c e s ,” s a i d Fernando Esguerra, Director for Globe Citizenship.

With GCash as the secure platform to receive donations, lending can be done through #TeamGlobe. Interested citizens may donate any amount to local beneficiaries in the areas of agriculture, food, retail, and services by accessing *143#, select GCash, choose Donate to Kiva, enter amount, GCASH PIN and email address. Those funds are then put into a revolving loan fund to go towards Filipino borrowers.

At the same time, Globe is also giving customers a chance to give back and support micro entrepreneurs through Kiva Gift cards.

Customers just need to text Kiva to 2158-Kiva (5482).

Leveraging on its online facility and a worldwide network of microfinance institutions, Kiva provides loans to people without access to traditional banking systems. The micro-finance institutions, which are called Field Partners, administer the loans in the field, giving people in need a safe and affordable access to fresh capital to further their lives and that of their families.

To-date, Kiva has over 1.5 million individual lenders from every country in the world. These lenders have funded loans amounting to over US$890 million to 2.1 million beneficiaries.

BPI...

from page 6

the Americas and Europe, which counters the growth of inflows traced from the Middle East, Oceania and Africa. ”This, coupled with the shifting trends in school year timing, look to undermine the seasonality and predictability of OF remittance data. We’ll have to see where the dust settles in the coming months,” the market report said.

Monetary officials have said that based on records, the bulk of remittance inflows in the past originated from the US because this is where most of the banks that OFWs tap to send remittances are based.

Thus, with improved tagging of inflows from overseas Filipinos along with developments in OFW

deployment, the market research projects “sharp swings” in remittance inflows in the coming months.

“All in all, we can expect steady to marginal growth in remittance flows given POEA (Philippine Overseas Employment Administration) deployment and the zealous nature of OFs enabling them to remit money to fund Peso consumption,” it said.

Strengthening of the Philippine peso, which the research note said has appreciated by about 7 percent to date, “should allay fears that remittances will no longer be able to provide ample Peso purchasing power to drive the economy to growth of roughly 6.5 percent for the year.” (PNA)

Expands... from page 7

figures continue into 2016, which saw CEB flying more than 190,000 passengers to and from Clark from January to July.

CEB offers flights to 3 6 d om e st i c an d 3 0 international destinations, covering an extensive network that spans Asia, Australia, and the Middle East. Its 57-strong fleet i s c o mp r i s e d o f s e v e n Airbus A319, 36 Airbus A320, six Airbus A330, and eight ATR 72-500 aircraft.

Between 2016 and 2021, CEB expects deliver y of 32 Airbus A321neo, two

Airbus A330, and 16 ATR 72-600 aircraft.

For bookings and inquiries, guests can visit www.cebupacificair.com or c a l l t h e re s e r v at i on hotlines (+632)7020-888 or (+6332)230-8888. The l atest s e at s a les c an b e found on CEB’s official Twitter (@CebuPacificAir) and Facebook pages.

Guests may also download the Cebu Pacific official mobile app on the App Store and Google Play.

Golf... from page 7

the friendly golf tournament managed by HGS. The Indian Independence Day Friendship Golf Tournament was created not just to celebrate the Indian Independence day, but also aims to strengthen ties between the Indian and Filipino Community.

EXTRA-JUDICIAL SETTLEMENT OF THE ESTATE OF THE DECEASED EDNA EBRALE PEREZ

KNOWN ALL MEN BY THESE PRESENTS: this AGREEMENT OF PARTITION, entered into by and among the heirs of Sosimo V. Sabo and Monica Abalde, Sosiso V. Sabo was the sole heir of Tomas Sabo and Basilia Villarus, the title holder of a parcel of land located at Pagatpat, Cagayan de Oro City covered by Original Certificate of Title (OCT) No. P-23, who died intestate in Cagayan de Oro City, without any debts or obligation of whatever nature, Sosimo V. Saba and Monica Abalde left Eight (8) daughter heirs as their sole heirs, namely: ADELFA S. YAÑEZ, of legal age, married and a resident of Pagatpat, Cagayan de Oro City.

PAULITA S. CAAGBAY, of legal age, widow and a resident of Zone 8, Carmen, Cagayan de Oro City.

MYRNA S. YANEZ, of legal age, married and a resident of San Simon/ Pagatpat, Cagayan de Oro City. EMMA S. MALACAT, of legal age, married and a resident of Pagatpat, Cagayan de Oro City. ANGELITA SALVANA, of legal age, widow and a resident Nazareth, Cagayan de Oro City.

MARIA LOURDES A. SABO, of legal age, single and a resident of Carmen, Cagayan de Oro City.

LEONILA S. LEGASPI, of legal age, married and a resident of Matangad, Gitagum, Misamis Oriental. ARTEZA S. GALARPE, of legal age, married and a resident pf Pagatpat, Cagayan de Oro City; WITNESSETH: That the parties herein are the sole heirs and co-owners in equal share of a parcel of land described in Original Certificate of Title No. P-23 ( FP No. 42711) of the Registry of Deeds of Cagayan de Oro City, more particularly described Lot 3176, Cad-237 containing an area of FIFTY THREE THOUSAND FIVE HUNDRED AND TWENTY THREE (53, 523) SQUARE METERS, more or less; Under the Notary Public of LEANDRICIA M. MONSANTO per Doc. No. 184; Page No. 35; Book No. V; Series of 2004.

KNOWN ALL MEN BY THESE PRESENTS: This EXTRAJUDICIAL SETTLEMENT made and executed by and among the HEIRS OF EDNA EBARLE PEREZ, namely: JUSTINO A. PEREZ, of legal age, Filipino, widower and a resident of #72 VDR Compound, Zone 2 Tablon, Cagayan de Oro City, and the surviving husband of the deceased; DANIEL RAMON EBARLE PEREZ, the surviving son of the deceased and herein represented by his aunt/attorneyin-fact, AURORA FABRESISMALAYAS, per special Power of Attorney dated January 13, 2016 and notarized as Doc. No. 176, Page No. 36, Book No. 190, Series of 2016 of the notarial registry of Atty. Mario T. Juni of Cagayan de Oro City; CLARISSE PEREZ-RANTANEN, the surviving daughter of the deceased and herein represented by her aunt/attorney-in-fact, AURORA FABRESIS-MALAYAS, per special Power of Attorney dated January 13, 2016 and notarized as Doc. No. 176, Page No. 36, Book No. 190, Series of 2016 of the notarial registry of Atty.

Mario T. Juni of Cagayan de Oro City; HEIRS OF JAYPEE JAMES PEREZ, deceased son and herein represented by his surviving wife, MICHELLE . PEREZ, of legal age, Filipino, widow and a resident of #72 VDR Compound, Zone 2 Tablon, Cagayan de Oro City; WINESSETH: That the abovenamed parties, all of legal age, are the legitimate husband/children and the sole/compulsory/surviving heirs of the deceased EDNA EBARLE PEREZ who died on August 24, 2013 in Cagayan de Oro City; that the deceased, EDNA EBARLE PEREZ, at the time of her death, left four (4) parcels of land and one (1) motor vehicle which particularly described as: Lot 3338-B, Psd-10-043878 containing an area of THREE HUNDRED SEVENTY TWO (372) square meters more or less., Lot 330-A, Psd-10-043880 containing an area of ONE THOUSAND ONE HUNDRED THREE (1,103) sq. m. more or less., Lot 3297-A, Psd-10-043877 containing an area of FOUR HUNDRED FORTY SIX (446) sq. m. more or less., Lot 3390-F, Psd-10-043879 containing an area of THREE HUNDRED TWENTY EIGHT (328) sq. m. more or less, both situated in Brgy. Tupsan, Pequeño, Mun. of Mahinog, Prov. of Camiguin, Island of Camiguin. Under the Notary Public of ATTY. MARIO T. JUNI. Per Doc. No. 264; Page No. 53; Book No. 195; Series of 2016.

BWM: September 5, 12 & 19, 2016

BWM: September 5, 12 & 19, 2016

EXTRAJUDICIAL DEED OF PARTITION

12

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

Monday|september 19, 2016