BusinessWeek Mindanao (September 23, 2013)

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Demand for gensets in Mindanao wanes

MINDANAO DAILY NEWS SECOND SECTION

Market Indicators As of 6:00 pm sept. 20, 2013 (Friday)

FOREX

PHISIX

US$1 = P43.055

6,424.45 points

.05 cents

X

87.25 points

X

Briefly Oil price cut THE ‘big three’ oil companies, announced a roll back on their respective fuel prices effective today, Sept 23.

Shell Philippines will cut 90 centavos per liter for diesel, P1.00 per liter for kerosene, and 70 centavos per liter for gas to be implemented 1:00 am today.

On the other hand, Petron Corporation will cut prices of fuel by 12:01 noontime.

Petron announced 9 0 centavos per liter price roll back for Turbo Diesel and Diesel Max, P1.00 per liter for kerosene, and 70 centavos per liter price cut for Blaze 100 Euro 4, XCS, Super Xtra and Xtra Advance.

Class resumption ZAMBOANGA City -- Education Secretary Armin A. Luistro says the Department of Education (DepEd) will be ready to resume classes but wants to focus on assessing schools and students first. “We are currently preparing, with our division personnel, principals, and teachers to be ready for school opening as soon as the Crisis Management Committee declares it safe to do so. Based on our assessment 80% of public schools can resume classes.”

Out of 205 public schools (including annexes), 13 schools are being used as evacuation centers. According to DepEd division officials, 167 schools can already resume classes next week as long as they are given 24 hours’ notice by the Crisis Management Committee. “ We want a return to normalcy but after an ordeal like this, students and teachers need psychosocial intervention and debriefing,” explained Luistro.

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Monday - September 23, 2013

C

By MYRNA VELASCO, Contributor

OMPARED to their desperation for ‘band-aid fixes’ during last year’s brownout-stricken summer, the electric cooperatives’ appetite on the proposed deployments of modular generator sets (gensets) had substantially waned.

Government’s initiative to finance the acquisition of modular generators for electric cooperatives in Mindanao seemed unattractive as there were only few takers in the region.

Accord ing to Energ y Secretar y Carlos Jericho Pet i l la , t he upt a ke wa s only for 7.0 megawatts – a marginal one compared to previous assumptions of 191 megawatts.

The national government has allotted P4.5 billion from the Malampaya fund purportedly to bankroll the purchase of the gensets, w h ic h i n t u r n w i l l b e offered to the Mindanao electric cooperatives via

lease arrangement.

Petilla said they will have to ask the ECs one more time on their interest for the gensets – prospectively to tie them over for next year’s summer months – but if the response is the same, he noted that they may opt to deploy these facilities in the Small Power Ut i l it ies Group (SPUG) areas of the National Power Corporation. demand/PAGE 23

Mining seen to provide solution to unemployment, worsening poverty woe

By LOVELY MAE CASENAS, Staff Member

TH E gover n ment ca n b r e a k t h e c o u n t r y ’s increasing unemployment and poverty by providing t he necessa r y suppor t to t he mining industr y, a long with spending

more on i n f ra st r uc t u re and sustaining the anticorruption drive.

Peter Wallace, Chairman of t he Wa l lace Business Forum, said that mining solution/PAGE 23

BSP allows 6 Zamboanga banks to open Saturday ZAMBOANGA City -- The Zamboanga city Bankers and Financiers Association (ZCBFA) announced Saturday that six banks are confirmed open as authorized by the

Bangko Sentral ng Pilipinas (BSP).

ZCBFA president Alma Paculanan said the following banks are open: Banco de banks/PAGE 23

MW Peter U. Lim Lo Suy prepares himself before taking a swing at the golf ball during the Ceremonial Tee-off Time of the MW Peter U. Lim Lo Suy Open Golf Tournament at the Pueblo Golf and Country Club, September 20. Lim Lo Suy is the Grand Master of Cagayan de Oro City’s The Most Worshipful Grand Lodge of Free and Accepted Masons of the Philippines since 2009. bwm photo by lovely mae casenas

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Economy

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Bottled water, containers now subject to automatic price controls during disasters MANILA, Sept. 21 (PNA) -- Prices of “potable water in bottles and containers” are now subject to automatic price controls during disasters, Pasig City Rep. Roman Romulo said over the weekend.

“We are pleased to report that by virtue of Republic Act 10623, which officially became effective Sept. 21, bottled drinking water prices are now considered frozen right away in areas declared in a state of ca la mit y,” Romulo said in a statement.

Romulo first introduced in 2010 the bill seeking to include bottled drinking water in the list of “basic necessities” under price controls during emergencies.

“What prompted us to file the bill then was the prop e n sit y of c ro ok e d

bottled water refillers and traders to take advantage of distressed consumers during harsh conditions,” Romulo explained.

According to the veteran lawmaker, in the past, we’ve seen bottled water prices shoot up to P140 per liter around areas hit by days of severe flooding.

“Drinking water is even more vital than food during emergencies. People can go without food for days and still survive, but not without drinking water,” Romulo pointed out.

Even without widespread f lo od i ng , Romu lo a l s o warned that essential water resources in general, and bottled drinking water in particular, are extremely susceptible to hoarding and profiteering during potential shortages, such as in the event of a prolonged dry spell.

T he new law adds potable water in bottles a nd conta i ners, loc a l ly ma nu fac t u red i nsta nt noodles, fruits, household liquef ied petroleum gas (LPG) and kerosene to the list of basic necessities under price controls during a crisis, as specified in The Price Act of 1992.

As a result, mostly of calamities such as rainstorms and f looding, local

governments may declare their provinces, cities or municipalities in a state of calamity, while Malacañang may proclaim larger areas such as groups of provinces or certain regions in a similar status.

President Aquino already declared the whole Philippines “under a state of national calamity” twice –- on Dec. 20, 2011 and on Dec. 8, 2012 –- due to the highly destructive rains and floods caused by Typhoons Sendong and Pablo.

By law, the other “basic necessities” subject to price controls during disasters are: rice, corn, root crops, bread; fresh, dried or canned fish and other marine products; subject/PAGE 21

BSP asks lawmakers for P150-B capital hike MANILA -- The Bangko Sentral ng Pilipinas (BSP) is proposing for a P150 billion increase of its capital to further strengthen its capability to oversee the c o u n t r y ’s e x p a n d i n g financial system and support domestic expansion.

The capital hike is among the goals included under the charter change amendment bill of the BSP, which was recently filed before the

House of Representative

by Batangas 3rd District Rep. Nelson Collantes, BSP Deputy Governor Vicente Aquino said. “(This) w ill promote effective implementation and conduct of monetary policy,” Aquino told members of the media Saturday during the annual seminar that the central bank gives to members of the media.

The BSP charter change

a m e n d m e nt i s a m o n g the priorit y bills of the administration of President Benigno Aquino III, which BSP’s Aquino is not related to.

I n h is present at ion, Aquino said the capital hike is proposed to be given on a staggered basis of three years.

It a i ms to ma ke t he central bank more capable of addressing risks that comes

with improving and more complex financial market. “(This) will allow BSP to pursue its mandate of price stability conducive to a balanced and sustainable growth of the economy,” the presentation showed.

Aquino explained that “the conduct of monetary policy involves a range of financial risks and costs that result from policy decisions BSP/PAGE 21

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Compostela Valley gold, copper Gov’t to bid out P17.5-B Mactan airport on Nov. 15 mining project to generate $2B DAVAO City -- The King-king Gold-Copper Project (KGCP), the flagship mining project of the U.S.-based St. Augustine Gold and Copper Limited and local partner Nationwide Development Corporation (Nadecor) located in Pantukan, Compostela Valley is expected to generate US$ 2 billion once it starts its commercial production by 2017. “ T he re s u lt s of t he Prel i m i na r y Fea sibi l it y Study show that the planned operation has favorable economic potentia l, generating an estimated pre-tax net present value (“NPV”) of US$ 2 billion and an estimated pre-tax internal rate of return (“IRR”) of 24.8 percent,” said Andrew J. Russell, chief executive officer of St. Augustine.

He said the strong results

of the PFS pave the way for St. Augustine and their joint venture partner Nadecor to continue the development of King-king, including the remaining technical work and the advancement of project financing.

The Decla rat ion of Mine Project Feasibility (“DMPF”) was submitted to the Philippine government in May 2012. The f ina l mining/PAGE 21

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Property developer eyes up to P7B from bonds LISTED Filinvest Land, Inc. is looking to raise up to P7 billion from bonds, the property developer said in a filing with the Securities and Exchange Commission (SEC).

Filinvest Land said it was offering P5 billion worth of unsecured, fixed-rate, pesodenomiated retail bonds,

with an oversubscription option of up to P2 billion.

“The bonds are comprised of seven-year fixed rate bonds due in 2020 and/or 10-year fixed rate bonds due 2023,” the filing read.

The bond’s coupon rate, timetable of the offering as well as intended use of eyes/PAGE 21

PHILIPPINES is pushing through with the P17.5-billion Mactan Cebu International Airport expansion, a publicprivate partnership (PPP) project of the Department of Tr a n s p or t at ion a nd Communications (DOTC) that was setback by a court case.

A Manda luyong Cit y court junked a petition to stop the government from bidding out project to expand the second busiest gateway next to the Ninoy Aquino International Airport.

The injunction case filed by one Danilo Cruz was dismissed by the Regional Trial Court of Mandaluyong City for lack of jurisdiction, sa id law yer a nd DOTC spokesperson Michael Arthur Sagcal.

“That only goes to show that this was yet another baseless petition against us,” the official noted. “As we have said time and again, the DOTC is committed to conducting an open, fair, and transparent bidding process, fully within the bounds of law,” he added.

The Nov. 15 schedule now gives prequalified bidders enough preparation time to polish proposals for the project, Sagcal said.

Improvements to t he partnership scheme would be incorporated into the project, according to the DOTC official, saying government would shoulder the obligation covering real property taxes and the concession agreement lengthened to 25 years from 20.

The amendments were reached during one-on-one meetings between by the DOTC Specia l Bids and Awards Committee (SBAC) and the seven prequalified bidders the past few months.

“We have been working hard to find the balance between government and private sector interests,” the official noted. “This gives sufficient time for the bidders to finalize their proposals,” he added.

The prequalified bidders were AAA Airport Partners led by conglomerate Ayala Corp., Cebu-based Aboitiz Equity Ventures, and Houston airport operator ADC&HAS; Filinvest-CAI Consortium of taipan Andrew Gotianun and Singapore’s Changi Airport; Lopez-led First Philippine Airports and New Zealand’s Infratil Asia Limited.

The other preqalifiers were GMR Infrastructure and Megawide Consortium and India’s Delhi Airport; MPICJGS Airport Consortium – the partnership of infrastructure conglomerate Metro Pacific Investments Corp. and JG Summit Holdings of tycoon John L. Gokongwei Jr. and Aeroports de Lyon of France; SM-led Premier Airport Group of retail magnate Henry Sy and Switzerland’s Zurich Airport operators; and San Miguel-Incheon mactan/PAGE 21

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Motoring

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E-car summit Imported vehicle sales up set in November more than a fourth in Aug. THE group that organized the hugely successful first two editions of the Philippine Electric Vehicle Summit is now gearing up for the third one, which they plan to hold in November.

The Electric Vehicle Alliance (EVA), which already had two hugely successful events, is composed of the Electric Vehicle Association of the Philippines (EVAP), MERALCO, Clean Air Initiative Asia (CAI Asia) and the Institute for Climate and Sustainable Cities (ICSC).

EVAP President Rommel Juan said that the theme for the third EV Summit is Mainstreaming the Electric Vehicle Ecosystem. The said event is slated to happen on November 28 and 29 at the Meralco Multipurpose Hall at Ortigas Avenue, Pasig City.

“We will be bringing together the top EV players in the country such as assemblers, importers, suppliers, distributors and enthusiasts with those of other countries in the region,” Juan said. “Hopefully, we can learn from their best practices and they from us in how to build the necessary ecosystem for electric vehicles to thrive and be sustainable. There have been so many developments in the EV industry in both the domestic and international fronts lately. So many players have come and gone. And some are still just coming in, which is why we want everyone to be successful in their respective implementations.”

Juan noted that Project Better place in Palo Alto, California has declared bankruptcy whereas Tesla of San Carlos is continuing to grow.

“As a mat ter of fact, Mera lco Cha ir Ma nny V. Pangilinan recently bought a Tesla electric sports car to highlight the launching of the new Meralco charging station at the Meralco Complex in Pasig City,” Juan added. “There is no denying the EV industry is here to stay as it is just in its infancy in the Philippines.

Some analysts even predict that by 2020, about 15% of vehicles sold worldwide will be electric vehicles”.

T he Ph i l ippi ne E lec t r ic Veh icle Su m m it 2013 will feature the most active local EV manufacturers, importers, suppliers, operators and dealers. summit/PAGE 21

SALES of car companies belonging to the Association of Vehicle Importers and Distributors Inc (AVID) in August jumped by over a fou r t h, buc k i ng t he traditionally “ghost” or slowselling month.

Data released by AVID showed that its seven members sold a combined 2,411 units last month, up 29.8 percent from 1,858 in August last year.

Sales of passenger cars rose 19.7 percent to 1,398 from 1,143 last year, while those of light commercial vehicles zoomed 45.9 percent to 1,043 from 715 over the same period. sales/PAGE 21

Passenger cars fuel 29% hike in Hyundai PH sales

PASSENGER cars boosted last month’s sales of the Philippine distributor of Hyundai.

In a statement, Hyundai Asia Resources Inc (HARI) today said it sold 1,877 units in August, up 29 percent from 1,454 in the same month last year.

Fueling last month’s sales were Hyundai’s passenger car lineup, which grew 24.4 percent to 1,261 units from 1,014 last year, and accounted for two-thirds of total sales for August.

Sales of the subcompact Eon, for one, rose 437 percent to 499 units from 93 in August of last

year.

Light commercial vehicles (LCVs) also turned in higher sales, increasing 40 percent to 616 units this year from 440 last year. Fast-selling LCVs included the Grand Starex, H100 and Santa Fe models.

HARI said the higher sales was in spite of a reduction in the number of selling days brought about by heavy rains and flooding across Luzon. The company said sales last month even surpassed the 1,844 sold in July.

Despite the upbeat August

performance, sales in the first eight months of 14,713 units lagged last year’s 15,735, amid global supply woes earlier this year.

HARI however remains optimistic that the second half of the year would bring higher sales.

“The country’s best in region economic growth in the first half of the year is yet another confidence booster for the country as the Philippines moves forward towards economic sustainability,” HARI president Maria Fe Perez-Agudo said.

“Likewise, Hyundai in the Philippines shares this optimism and remains upbeat heading towards the final stretch of 2013,” she said.

The Philippines’ gross domestic product (GDP) grew 7.5 percent in the second quarter, one of the fastest in Asia and higher than the government’s full-year target range of 6-7 percent.

GDP is the amount of final goods and services produced in the country, and as such is a measure of economic performance.

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The

CAGAYANTIMES de Oro

LIFESTYLE

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Indigenous Tribes in Mindanao with personnel Officer Amie Rabadon from the Tourism Infrastructure and Enterprise Zone Authority, Gardens of Malasag Eco-Tourism Village in Cugman, Cagayan de Oro City.

Indigenous Tribes of Mindanao Performed at SM City Mall CDO T

A lady from Subanon Tribe making a basket.

Photos and Story by Roselyn P. Paglinawan

he six tribes of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) were invited by the SM City Mall Cagayan de Oro to participate with the celebration of my City, my SM, my Crafts traditional Arts and modern Philippines on September 9.

The Mindanoan’s tribes were accompanied with personnel Officer Amie Rabadon from the Tourism Infrastructure and Enterprise Zone Authority, Gardens of Malasag Eco-Tourism Village in Cugman CDO. The first performer was the Umayamnon’s tribe who dwells along the watershed of Umayam River in the mountains, the Eastern side of the province of Bukidnon.

Umayamnon or fierceness for their group is regarded as warlike and forest expert and they lived mostly on upland farming, fishing and gathering of non-timber natural resources.

Umayamnon tribes are excellent makers of necklaces called “Ginaki and Inboy”, a beautiful beaded men’s bag called “Sunling” and unisex beaded bracelets called “Binukid.”

Crowd wowed with the performance of the Subanon (river people), the second tribe of ethnolinguistic groups the native of the Zamboanga Peninzula in the western part of Mindanao.

Bukidnon tribe with their colorful costumes are the third one to take center stage an ethnic tribe in the north of central in Mindanao who are into food gathering, agriculture, skilled in embroidering garments with arts best expressed in their dances, mat weaving and basketry.

The Talaandig Tribe of Kitanglad in the towns of Lantapan and Talakag performing in SM City Mall, CdeO

In music Bukidnon tribe play bamboo flutes, bamboo Jew’s harp, one-stringed violin, and the boat-shaped guitar as their musical instruments.

Applause for the Tigwahanon, the fourth tribe adopted Rhyan Casiño, the Ngo’s Executive Director of Dire Husi.

Tigwahanon is found along the watershed of Tigwa River in the municipality of San Fernando Bukidnon and they have tree houses called “Batangan” built among the branches of a growing tree with the tree trunk as its solitary post and using bu-o (bamboo fish traps) in fishing.

People of wilderness, the fifth tribe Higaunon is considered nomadic as they travel from one mountain to village to another, looking for more fertile soil and better harvest.

The last tribe called Talaandig brought people to their feet as they showed their talents on the stage. They are one of the indigenous groups found in municipalities surrounding the mountain of Kitanglad in the towns of Lantapan and Talakag.

Talaandig tribes continually preserve and promote its customs, beliefs and practices amidst the strong influx of modernization.

Rabadon also expressed her sentiments and appreciation working with the six indigenous tribes.

“It’s an honor to present these tribes because in them we can know the original life, traditions, crafts, skills of Kagay-anon or Mindanoans,” said Rabadon in a very enthusiastic voice.

The youngest member of the Tigwahanon tribe

One of the Umayamnon Tribes making a necklace.

Tigwahanon tribe with Rhyan Casiño

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Subject... from page 14

fresh pork, beef and poultry meat; f resh eg gs; f resh and processed milk; fresh vegetables; coffee; sugar; cooking oil; salt; laundry soap and detergents; firewood; cha rcoa l; c a nd le s ; a nd essential drugs as classified by the Department of Health.

Violators of the price freeze face up to 10 years in prison plus a punitive fine of up to P1 million.

Unless sooner lifted by the President, the price freeze on basic necessities will “remain effective for the duration of the condition that brought it about, but not for more than 60 days.”

With respect to household LPG and kerosene, which are mostly imported, the price control will “remain effective for not more than 15 days, taking into consideration the current inventory or supply levels thereof.”

Under the law, government may also use a special buffer fund to procure, purchase, import or stockpile any basic necessity and devise ways to distribute them for sale at reasonable prices in areas where there is inadequate supply, or a need to effect changes in prevailing prices.

(PNA)

BSP...

from page 14

by the BSP.” Thus, a higher capital is needed to “promote effective implementation and conduct of monetary policy.”

The New Central Bank Act, which instituted the BSP from the old Central Bank of the Philippines, in 1993 has given the BSP a P50 billion capitalization, P10 billion of which was given during the BSP’s first year of operations.

T h e A q u i n o administration gave the BSP P10 billion in December 2011 on back of improvement of fiscal situation and P20 billion in December 2012.

It vowed to give the remaining P10 billion capitalization in December this year.

Aquino said the proposed capita l increase, for his part, is still small given that it has been 20 years that the BSP Charter has been made into law as well as the globalization of economies.

He explained that “there is now a full integration of the market and we really have to financially strengthen the BSP in order to meet risks and contingencies.”

“If we are able to empower the BSP in the discharge of monetary and financial stability function we also have to infuse additional capital to be able to discharge constitutiona l and lega l mandate,” he said.

“To have a credible central monetary authority it has got to discharge its function from the position of financial strength,” he added.

Si m i l a rly, B SP D e put y Governor Diwa Guinigundo, during the same event, said central banks in Southeast Asia t hat have been

recapitalized have proven the advantages of having higher capital.

“It is a good compromise bet ween a much higher capita l base a nd t he likelihood of being approved

by Congress,” he said noting that an about P200 billion additional capital “will be a more or less comfortable” level of increase.

Guinigundo, however, said the higher capitalization should not be the only focus of the BSP charter change amendment proposal since other factors such as allowing the central bank to issue securities, reduction in the dividends it is required to give to the national government and tax exemptions among others are needed.

“These will give us flexibility,” he added. (PNA)

Mining... from page 16

feasibi lit y study w i l l incorporate any required amendments to the DMPF once comments are received from the government’s final review of the document.

Tom Hender s on, St .

Augustine chief operating of f icer, said t he mining project in Kingking will have a 22-year life with an estimated initial capital cost of US$ 2.04 billion including the mine, the mill, on-off leach pad, power plant, port facility and US$ 240 million in contingency costs.

So far, St. Aug ustine has already invested US$ 80 million in the past three years of their partnership with Nadecor.

He nd e r s on s a id t he project would create 4,000 to 5,000 jobs with 1,700 direct employment during construction.

C l yd e G i l le s pie , St .

Augustine country director, said that by the end of 2014 all necessary permits would have already been complied.

He said the construction phase wou ld ta ke a n estimated three years time to finish before commercial production starts.

He said they expect to produce 100,000 tons per day once operation starts which will be splited between 40,000 ton per day to an on-off heap leach and 60,000 tons per day to a flotation mill with agitated tails leach.

The mining rate will be approximately 178,000 tons per day for the 22-year mine plan. Production from the heap leach process is expected to start one year prior to commencing mill operations.

T h e pr o p o s e d o p e n pit mine and processing plant will produce copper, gold, silver concentrate, copper cathode, and gold ore bullion.

A dr y stack tailing faci l it y is proposed for ha nd l i ng t a i l i ngs f rom the process plant. Tailings will be filtered to remove moisture prior to stacking.

Mining officials said that t he tech nolog y is more ex pensive but it wou ld eliminate t he long-term risk to the environment.

(PNA)

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Eyes...

from page 16

proceeds were not stated i n t he prospec t us sent to reporters by the SEC yesterday.

BPI Capital Corp., BDO Capital & Investment Corp., First Metro Investment Corp. and The Hong Kong and Shanghai Banking Corp.

Ltd. were appointed issue managers, while East West Banking Corp. was named selling agent.

Filinvest Land recorded P1.72 billion in profit in the first half, up by 12.42% from P1.53 billion a year ago. In the same comparative sixmonth periods, revenues increased by 18.48% to P6.22 billion from P5.25 billion, while cost and expenses rose by 23.74% to P4.17 billion from P3.37 billion.

Mactan... from page 16

Air por t Consor t iu m of diversified conglomerate San Miguel Corp. and the operator of South Korea’s Incheon Airport.

The projects calls for the construction of a worldclass international passenger terminal building equipped to handle eight million passengers a year, and the renovation of the existing terminal building.

The 4.5-million capacity pr o c e s s e d 6 .7 m i l l ion passengers last year.

“Based on the active participation of all seven prequalified groups in the one-on-one meetings, the transport agency anticipates t hat t he bid proposa ls will be more competitive, resulting in better bid offers to government,” Sagcal said.

The Aug. 27 deadline for the technical and financial proposals of prequalified bidders was postponed for 30 days to accommodate revisions in the concession agreement.

Sales... from page 17

End-Aug ust sa les of AVID members inched up 3.4 percent to 20,558 from 19,876 in the same eightmonth period last year.

Sales of passenger cars however slowed 12.6 percent to 10,535 from 12,049 last year.

The decline in the passenger car segment was compensated by light commercial vehicles, whose sales rose 28 percent to 10,023 from 7,827 a year

ago. “ W it h t h e v i gor ou s economic landscape and improved investment climate, the country’s growth uptrend has solidified the performance of the automotive industry.

Demand for vehicles continues to pick up as Filipinos enjoy the increased spending capacity on the back of benign inflation and low-interest rates,” AVID president Maria Fe PerezAgudo said in a statement.

“The country’s better than expected economic growth thus far this year is yet another positive validation of a bullish outlook not only for the Philippines, but for the local automotive industry as well,” she added.

The end-August sales of each of the seven AVID members are as follows: • H y u n d a i A s i a Resources Inc – 14,713 (down from 15,735 last year); • The Covenant Car Company Inc (Chevrolet) – 3,052 (up from 2,108); • Motor Image Pilipinas Inc (Subaru) – 1,888 (up from 1,088); • C A T S M o t o r s (Chrysler, Dodge, Jeep and Mercedes-Benz) – 456 (down from 530); • PGA Cars Inc (Audi, Bentley, Lamborghini and Porsche) – 257 (up from 145); • B r i t i s h U n i t e d Automobi les I nc (M i n i Cooper) – 106 (down from 117); and • Scandinavian Motors Corp (Volvo) –86 (down from 153).

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Summit... from page 17

“We also wish to discuss the most pertinent EV issues of today that is why we have also invited representatives from the government sector and the academe”, he added.

Phi lippine Uti lit y Ve h i c l e , I n c . ( P hU V ) , t he countr y’s pioneer in loca l EV ma nufacturing a nd a s sembly, w i l l a lso display their newest models of ETrikes and EJeepneys.

T he c omp a ny w h ic h recent ly secured its pioneering status registration from the BOI allowing it to have a package of f isc a l a nd non-f isc a l incentives such as income tax holiday and duty-free impor tation, announced that it will soon get into m a i n s t re a m lo c a l m a s s production and assembly of EVs in the country with a new plant in Cavite.

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

Fun Page Ai-ai apologizes to PNoy Monday | september 23, 2013

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

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

M A N I L A -- A i A i dela s A la s apologized to President Benigno Aq u i n o I I I o n F r i d a y, a f t e r Malacañang was made to address his supposed involvement in the comedienne’s controversial marital spat.

The 48-year-old actress, who is known to be a close friend of President Aquino’s youngest sister, Kris, issued a statement in response to rumors linking the top official to her legal case.

“Nag a-apologize po a ko sa Pangulo dahil nadadamay siya sa isyu ko samantalang matitindi ang hina harap niyang problema ng bansa,” delas Alas said in a statement

Daily

HOROSCOPE AQUARIUS (January 20 – February 18) -You stumble onto something really cool today -- maybe a new idea, or maybe a person who makes you see the world differently. Follow up on this lead and see where it takes you.

PISCES (February 19 – March 20) - Something you had counted on turns out to be not so reliable -- in fact, it may feel as if you’ve been cheated!

Try to just pull back and let yourself see the situation as a whole. It should make sense soon.

ARIES (March 21 – April 19) - Your cultural leanings are making life more fun and engaging -- so get out there and mix it up with new people!

You should find that you’re at the cutting edge, at least among your friends.

TAURUS (April 20 – May 20) - It’s one of those days when you really need to figure out what you’re doing next -- and consider every last option! You’re sure to hit on it, even if it takes you all day long.

GEMINI (May 21 – June 21) - A friend you don’t see all that often comes to you with a request -- or maybe a tip! Listen closely, because this person could turn out to be really important in the near future.

CANCER (June 22 – July 22) - Though you are incredibly rushed today, you need to take your time with your most important tasks or errands.

Rushing is sure to cause more problems than it’s worth, so slow it down.

sent to ABS-CBN News.

She added: “Nahihiya po ako sa kanya dahil wala ho siya talagang kinamalaman sa anumang problema ko.”

On Wednesday, Presidentia l spoke sperson E dw i n L ac ierd a addressed an allegation, supposedly made by businessman Jed Salang’s lawyer, that Aquino is “meddling” in delas Alas’ legal tiff.

Salang is the estranged husband of delas Alas.

Noting Aquino is preoccupied with the crisis in Zamboanga, Lacierda said the actress’ case is not even in the “radar” of the President.

Delas Alas was embroiled in a

Mindanao Daily News’

-MovieWatch-

Social Section If you like to greet your friends or just wanted to have some text mates through our publications, just text this number : 09269919077 or you can message it to our FB Fan Page ( Mindanao Daily Fan Page ) -- , , gud aftrnun po gr8 qOe lanq po ang SALAS FAMILY jan xa rOsario agusan del sur hi to my ma2 and pa2 specialy 4 my bOyfriend: bObOng lungay, , dOnt publsh my # tnx -- ...gUd Pm MDN i’m hannie frOm purok 3’a GUSA i just wanna great my K’BERK’s n’c *BETSY”LANGGA”ROSE* tnz.. guy’s for always being there...lve u guys mwaaaah2x tnz MDN godbless mOre power. .

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controversy early this year for her marital woes with Salang, whom she married in a civil wedding on April 3. They separated a month later, with delas Alas accusing Salang of domestic violence. The case has since been brought to court.

In June, Malacañang also denied that members of the Presidential Security Group were assigned to delas Alas, who had just filed, at the time, a case against Salang for violating Republic Act 9262.

When asked recently as to the progress of her legal tiff with her former partner, delas Alas only said, “In fairness, okay na siya.” abs-cbn showbiz news

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Cloudy with a Chance of Meatballs 2 picks up where the original left off.

Inventor Flint Lockwood’s genius is finally being recognized as he’s invited by his idol Chester V to join The Live Corp Company, where the best and brightest inventors in the world create technologies for the betterment of mankind.

Chester’s right-hand-gal - and one of his greatest inventions - is Barb, a highly evolved orangutan with a human brain. It’s always been Flint’s dream to be recognized as a great inventor, but everything c h a n g e s w h e n h e d i s c ove r s that his most infamous machine (which turns water into food) is still operating and is now creating food-animal hybrids - ‘foodimals!’

With the fate of humanity in his hands, Chester sends Flint and his friends on a dangerously delicious mission - to battle hungry tacodiles, shrimpanzees, hippotatomuses, c h e e s p i d e r s a n d ot h e r fo o d creatures to save the world again!

CLOUDY WITH A CHANCE OF MEATBALLS 2 release date : september

27, 2013

SUDOKU How to play the game?

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

of the same digit.

Yesterday’s Answer

LEO (July 23 – August 22) - Someone new sweeps into your life and shakes the foundations of your world -- for the better! You end up with some great new ideas to chew on, and ought to be able to get to the heart of something awesome.

VIRGO (August 23 – September 22) - You know exactly where you should be -- and it’s here. That might make you feel funny, but as long as you’re facing the right way and feeling confident, you can pull off huge victories!

LIBRA (September 23 – October 22) - Today is all about how you treat those closest to you.

Of course it’s positive, but what specifically are you offering them? Make sure that you let folks know what’s what and how you feel.

SCORPIO (October 23 – November 21) - You’ve got a little health problem that could get worse -- but fortunately, you have exactly the right kind of energy to do something about it today. See a doctor or talk to someone who can help.

SAGITTARIUS (November 22 – December 21) - If you’ve got kids, they need you more than ever today. If not, you should keep an eye out for nearby young ones and see that they can teach you. With your great energy, it’s sure to be vital!

CAPRICORN (December 22 – January 19) - Safety concerns occur to you more often than most people -- but it can be a drag to come across as a worrywart. Try not to let others’ opinions sway you as you voice your concerns today.

Amazing Facts!

Did you KNOW?? ..

Saturn’s moon, Titan, actually has many geysers spewing out of its south poles. Scientists have said that the geysers are very similiar to the ones here on earth.

CROSSWORD puzzle across 3. Band member 7. Weird 9. Young fish 10. Chances 12. Bulgarian currency 13. Rodents 14. Whether 16. Direct according to rule 19. Complain 21. Damp 22. For each 23. Fragrant 26. Before mi 27. Earthy material 28. _Angeles 30. Disregard 31. Long rope 32. Lodging establishment 33. White ant

DOWN 1. Staying power 2. Rind 3. Private road 4. _Tin Tin 5. UAAP member 6. Impulsive person 8. Always 10. Lubricate 11. Inhibit 13. Cripple 15. Mockery 17. Obtain 18. Builder 20. Athlete in course 24. Month 25. Central part 29. Lustrous fabric 31. Portion of land 32. Greeting word

Yesterday’s Answer

Mindanao Daily 23 NEWS

Monday | september 23, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Demand... from page 13

If the Malampaya fund allocation for the gensets program will not be fully used up, the energy chief emphasized that any remaining balance will revert to the national treasury.

Mindanao power utilities can now opt for alternative solutions beyond the ‘gensets deployment’, especially with the launch of the Interim Mindanao Electricity Market (IMEM) which will take in capacities from interruptible loads of embedded facilities as well as the un-contracted capacities of some power generators.

Under the bidding scheme for the Mindanao spot market, the DUs are empowered to forecast their demand and they can also exercise control if they will purchase supply from the market at their preferred prices.

Based on reg u lator y approva l for t he pr ice determination methodology (PDM) of the Mindanao spot market, a day-ahead price shall be determined for energy supply to be traded. The Energy Regulatory Commission (ERC) said this will “provide certainty in pricing for the participants.”

It was further explained that the IMEM day-ahead price (IDAP) “shall correspond to the highest offer price fully or partially scheduled for the particular trading interval.”

There shall also be cap on offers in the market, but this is something that the ERC and the Department of Energy (DOE) will have to agree on.

For sudden changes in dispatch from the day-ahead IMEM schedule, “a small premium” shall be imposed, according to the industry regulator.

The ERC further noted that there shall be “penalties for trading participants deviating from the schedule beyond (plus or minus) 3.0% variation tolerance or dispatch instructions of the Mindanao system operator.

Australia’s economy is driven by mining and agriculture, the country’s largest export earner, accounting for 50 to 60 percent of the annual value of total exports.

Me a nw h i l e , m i n i n g investments from 2012 to 2017 are projected to reach $13 billion to $15 billion and expected to contribute to three percent of the country’s GDP by 2018. But these were “stalled

by Executive Order 79 and the executive’s inaction”, he noted.

As a result, he said that informal, small-scale mining took over, mining communities remain poverty-stricken and the jobs are not created.

We need responsible mining instead of banning mining, Wallace added.

To do this, he suggested proper regulatory implementation such as putting small-scale mining under nationa l control; strengthening the capability of the Mines and Geosciences Bureau of the Department of Environment and Natural Resources to properly and f u l ly ma nage m i nera ls development; implementing local laws and national laws consistently, with the latter upheld in cases of conflict; and keeping the revenue share of the government fair to keep the country competitive vis-à-vis other countries.

Moreover, the government must respect international treaties, honor agreements, and implement progressive restoration of land through full rehabilitation at the end

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

of its mining life.

“Our dai ly lives are dependent on mined products, so we have to work together to control, not ban mining. We also have to generate more wealth for the country by adding value,’ he said.

Banks... from page 13

Oro (BDO)-Jaldon; BDO-Canelar; One Network Bank (ONB)-Ayala; ONB-Guiwan; ONB-Sangali; and, Rizal Commercial Banking Corporation (RCBC)-Veterans.

“These are the banks approved

by BSP to have Saturday banking operation,” Paculanan said.

However, she said that RCBC will only open from 1-4 p.m.

She said the transactions included deposit, withdrawal and check encashments.

She said that more banks will resume operation on Monday.

For the past few days, close to 30 of the 58-member banks of ZCBFA were opened to cater to the needs of their clientele.

Banks that are near the so-called “areas of concerns” remained closed as the standoff that started last September 9 continues.

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Solution... from page 13

can be a game-changer in achieving sustainable gross domestic product (GDP) growth of seven percent in 2013.

This performance can generate at least 112,000 direct jobs from $15 billion investments.

Wallace was among the resource persons during a recent mining conference in Pasay City.

The country’s mining wealth is estimated at $840 billion or P47 trillion, four times the country’s annual GDP. But the Philippines account for only less than three percent of world mineral supply despite being richly endowed with such resources, he stressed.

Globally, the country ranks third in gold with estimated reserves of five billion tons, fourth in copper with about eight billion reserves, fifth in nickel with 0.8 billion estimated reserves and sixth in chromite with 40 million reserves.

Wallace further cited data f rom Geosciences Australia that explained that

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

Monday | september 23, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776