BusinessWeek Mindanao (September 29-30, 2016)

BusinessWeek MINDANAO CREDIBLE

Volume VII, No. 051

Market Indicators

As of 6:20 pm september 29, 2016 (thursday)

FOREX

PHISIX

US$1 = P48.257

7,714.86

X

4 cents

X

127.90 points

Briefly Green spaces DAVAO City -- The Davao Coastline and Port Development Project will have green spaces for aesthetics and sustenance/ livelihood purposes of its residents. Architect Manolo Noche, chief executive office of Arconic, planners of the P39-billion port city coastline said they are now in the process of structural and people tagging.

These will also identify tracts of land for parks, strip landscaping and sidewalk development.

Aside from parks, green spaces will be allotted for food production of the residents.

“It will not just be for aesthetic purposes.” Noche said of the green spaces.

Part of greening program is the planting of bakawan or mangrove trees along the coastline of the project.

Power sources MINDANAO needs at least 150 megawatts (MW) of additional capacity yearly until 2030 to meet rising demand from electricity consumers as the government lines up infrastructure projects on the southern island, the lead entity promoting its development said.

“We should be having at least 150 MW installed in Mindanao every year way up to, let’s say, 2025 or 2030,” said Romeo M. Montenegro, deputy executive director of Mindanao Development Authority (MinDA).

Based on data from the Department of Energy (DoE), Mindanao as of 2015 has an installed capacity of 2,414 MW, of which 2,044 MW are considered dependable. It accounts for nearly 13% of the country’s total 18,695 MW installed capacity.

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Mindanao players asked to explain oil price drops www.businessweekmindanao.com

Thu-Fri | September 29-30, 2016

By SHARIFEH B. RODA, PNA

Gov’t planners craft strategy to spur Mindanao devt

T

HE Department of Energy (DOE) has asked oil players in Mindanao to explain the price drops in gasoline products as it investigate possible predatory pricing.”

Based on the monitoring of the DOE-Mindanao Field Office (MFO), gasoline prices in Mindanao have fallen by as much as Php 8 to Php 12 per liter to around Php 30 since the first week of September.

DOE said that sudden and sustained huge decreases in oil prices might qualify as an “anti-competitive behavior” under the Oil Deregulation Law. DOE also said that this market behavior put both the smaller oil players and the consumers at a disadvantageous position in the long run. Smaller oil players may actually lose its market share and end up closing, allowing the remaining oil players the chance to dictate prices to the detriment of the consuming public.

Other issues brought about by this market behavior include the peddling of p et roleum pro duc ts in oil/PAGE 7

SAFETY ACHIEVEMENTS: Employees of power producer STEAG State Power Inc. (SPI) launched a company-wide Safety Consciousness Week drive with the traditional “safety walk” and to celebrate the company’s safety performance. Since start of its operations ten years ago, SPI has achieved more than five (5) million safe man hours with ZERO lost time due to accident. (Photo Provided)

Filinvest Land to spend P5-B for affordable housing in Mindanao

By MARK FRANCISCO, Staff Writer

THE property arm of the Gotianum-led Filinvest Development Corporation is spending P5 billion for e c on om i c h ou s i ng , it s Me d iu m - R i s e Bu i l d i ng (MRB) portfolio with new projects in South Cotabato and Davao City.

In a press statement, Filinvest Land, Inc. (FLI) said that this is on top of the P4.7 billion-worth of ongoing land developments including the One Oasis project in Cagayan de Oro giving Filinvest a 17 projectstrong foothold spread over

seven towns and cities here.

“With the government’s renewed fo cus towards Mindanao, we expect the d e mand for af ford able housing to grow as new industries and investments arrive in Southern Mindanao (Region 11) and Soccsksargen (Region 12) areas. We would filinvest/PAGE 7

DAVAO City -- Government planners are crafting strategy to expand economic opportunities in Mindanao to generate more employment and optimize global opportunities as the Philippines chairs the Association of the Southeast Asian Nations until next year, and tapping the economic zones in Mindanao.

Ernie Tomas, Jr., chief investments promotion division of the Mindanao Development Authority, confirmed joint planning an d m e e t i n g w it h t h e Bureau of Investments and the Davao City Investments and Promotion Center and Department of Trade and Industry, respectively to discuss the expansion of economic opportunities in Mindanao under the Duterte Administration.

He s a i d e n h a n c i n g business environment for employment generation targets infrastructure development, agriculture and agri-business, tourism development, information technology-business process outsourcing and manufacturing.

Tomas said that under strategy/PAGE 7

Angara introduces bill pushing for Mindanao railway network

MTB XC RACE. Mountain bikers race to the finish line during the UCCI Iligan MTB XC Circuit Race Sunday, one of the activites lined up for the Diyandi Festival that will culminate on the feast of St. Michael the Archangel on Sept. 29. MindaNews photo by Bobby Timonera

SENATOR Juan Edgardo Angara has filed a bill creating a state-owned Mindanao Railways Corporation as a first step in building a railway in Mindanao, the world’s 10th most populous island.

Senate Bill (SB) No. 137 aims to establish the “MindaRail,” which would have a capital stock of P1 billion and create an 11-person Board, all to be appointed by President Rodrigo Duterte. MindaRail will have its offices in Davao City.

Angara said the proposed railway

for Mindanao “would allow the island’s urban centers and growth corridors such as the cities of Davao, General Santos, Butuan, Cagayan de Oro, Cotabato, Malaybalay to be linked by rail.”

“Rail is the locomotive that will drive Mindanao’s progress. It is also a driver for peace because as communities become interconnected, economies are linked, growth spreads, and travel brings cultural exchanges,” Angara said. railway/PAGE 7

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Economy MisOr benefits from DA Mechanization Program

T

O drum up the farm mechanization assistance of the agency, the Department of Agriculture – Regional Field Office 10 (DA-RFO 10)

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through the Corn Program recently turned over about P4.2 million worth of farm machineries and equipment to the provincial government unit of Misamis Oriental

(PLGU-MisOr), in a simple c erem ony h el d at t h e Provincial Capitol Grounds.

A total of two units farm tractor worth P1,810,000 per unit and two units silage chopper for P292,000 per unit were formally handed

over to the province.

The PLGU-MisOr counter parted 10 percent of the farm tractors’ total project cost and the rest was shouldered by the DA-RF0 10, while the units of silage chopper were given to the province as full

grant from the aggie dept.

Gracing the event to accept the projects in behalf of the farmer-beneficiaries is MisOr Governor Yevgeny Vincente B. Emano, who expressed his sincerest appreciation for the DA,

in unwaveringly extending out assistance those targets to mechanize the operations among producers in their respective farmlands, since he has taken helm as governor of the province. benefits/PAGE 7

BUTUAN City -- Caraga Region’s population soared to 2,596,709 in 2015, or 167,485 more than its 2010 population of 2.4 million.

Phi lippine St at ist ics Authority (PSA) Caraga regional director Rosalinda C. Apura revealed that the region’s population grew by 1.28 percent between 2010 and 2015 based on the August 2015 Census of Population (POPCEN 2015).

Among the five provinces comprising the region, the province of Agusan del Sur had the biggest population (700,653), which accounted for 26.98 percent of the total population of the region. This was followed by the province of Surigao del Sur with 22.81 percent (592,250), Surigao del Norte with 18.68 percent (592,250), and Agusan del Norte with 13.65 percent (354,503). The province of Dinagat Islands

had the smallest population (127,152) accounted for only 4.90 percent.

Butuan City, the only highly urbanized city in the region, posted a population of 337,063 (12.98 percent).

The POPCEN 2015 count showed that country’s population stands at 100,981,437. Caraga’s total population accounted for about 2.6 percent of the country’s population.

In for m at i on on t h e

count of the population were collected by the PSA enumerators with 12:01 a.m. of August 1, 2015, as the census reference time and date.

Republic Act 10625, also known as the Philippine Statistical Act of 2013; and Executive Order 352 stipulate the conduct of a mid-decade census, primarily to update the population count in all barangays nationwide.

(FEA/PIA-Caraga)

Supplemental AIP Caraga Region’s population hits 2.5M mark up for review SUPPLEMENTAL Annual Investment Program of Cagayan de Oro is up for review.

Vi c e Mayor R ai ne i r Joaquin V. Uy referred to the City Council Committee on finance, budget and appropriations chaired by Councilor Edna Dahino for appropriate action Resolution No. 001 (S.2106) of the City Development Council (CDC),

approving the Supplemental Annual Investment Program (AIP) of the city for calendar year 2016.

The supplemental AIP for CY 2016 will sustain the delivery of services to the people of Cagayan de Oro in the total amount of P277,064.57 million, disaggregated at P93,960.91 million for Personnel Services review/PAGE 7

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Opinion

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thu-fri|september 29-30, 2016

Sex is no longer obligatory for spouses

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

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dr un kenness, he aske d to have sex with Maricar.

However, Maricar refused because she had to sleep with their daughter Jasmine to take care of her as she was sick. Angered by the refusal, Jose got a bolo and wounded Maricar in her forehead. Jasmine then tried to pacify Jose, but she too was hacked.

-ooo SEX IS NO LONGER O B L I G AT O RY F O R SPOUSES: For tunately, Mar icar and Jasmine sustained only minor wounds and were declared out of danger after being treated in a nearby hospital.

Jose was later on arrested by the police, and is now being detained while frustrated parricide charges are being readied against him.

Now, there are interesting issues from this incident.

The first pertains to the legal duty of a husband or a wife to have sex with their spouses. This is provided for by the Family Code of the Philippines. Under this law, a husband or a wife is obliged to have sex with their spouses, but under current jurisprudence, sex should be voluntary and the result of mutual consent. I In a landmark ruling ( Pe o p l e v s . Ju m a w a n , G.R . No. 187495, April 21, 2014), the Supreme Court ruled that “(I)t is

true that the Family Code obligates the spouses to love one another, but this rule sanctions affection and sexual intimacy, as expressions of love that are both spontaneous and mutual, and not the kind which is unilaterally exacted by force or coercion…”

-ooo “ M A D N E S S ”, “CONFUSION OF M I N D” C O M E F R O M GODLESSNESS: The other point in the case of Villorente is this: very clearly, Jose was suffering from some kind of a “confusion of the mind”, or some form of “madness”.

Indeed, only someone who is out of his mind can be so enraged by a refusal of his spouse to have sex with him, or her, especially if, as in the case of Villorente, there was a justifiable reason for the refusal to have sex.

How did Vi l lorente, and many others like him I am sure (based on similar news stories which abound in mainstreat and online media), became “confused” in their minds and “mentally mad” as well so that they are disabled from acting prudently, judiciously, and even rationally? From where I sit, I believe it is because many Filipinos no longer read their Bible, and no longer obey the commands of God. There is a prophec y

K akampi

Mo A ng Batas

Atty. Batas Mauricio which says that if a person no longer listens to God, and no longer obeys His commands, God will afflict him or her with “confusion of mind” and of “madness”.

This clearly is playing out itself now, turning many Filipinos mad and insane, because we no longer listen to God (no longer read His Bible), and no longer obey Him. Many will perish because of this!

-ooo PLEASE WATCH OR LISTEN: “Tambalang Batas at S o m i nt a c”, a n e w s commentary radio program, aired at DZEC 1062 kHz and other Radyo Agila provincial stations nationwide, and is aired live by Facebook at https://www.facebook.com/ RadyoAgila1062/?fref=ts, 6 to 7 in the morning, Philippine time. Phone: 0922 833 43 96, 0918 574 0193, 0977 805 9058. Email: batasmauricio@yahoo.com.

Tackling addiction spiritually

Oro Chamber

Charge What You’re Worth Think a minute.You may have heard about Henry Ford. He was the first to use the assembly line in his factory for mass production.

So every day his factory built and sold many cars. Well, one day the big generator t h at p r o d u c e d a l l t h e electricity for Ford’s factory suddenly stopped working.

The whole factor y shut down costing Ford a huge amount of money. So he quickly called one of the top engineers in the nation to come fix the generator. This expert engineer arrived and began looking and tinkering with the big generator. After only one hour, the engineer had found the problem and fixed it! So Ford’s factory immediately began making cars and money again.

A few days later Henry Ford got the bill in the mail from that top engineer for fixing his factory generator.

The bill was $10,000! Ford c ou l d not b el i e ve how expensive it was, so he called the engineer on the phone. He said: “Excuse me, Sir, but isn’t $10,000 rather high for just 1 hour of tinkering?”The engineer answered: “Mr. Ford, I’m charging you $10 for my 1 hour of tinkering, and $9,990 for knowing WHERE

LIFE’S INSPIRATIONS: “…

However, if you no longer listen to the LORD your God and do not carefully follow all his commands and decrees I am giving you today, all these curses will come on you and overtake you... The LORD will afflict you with madness… and c o n f u s i o n o f m i n d …”

(Deuteronomy 28:15, 28, the Holy Bible).

-ooo F I L I P I N O S H AV E BECOME “THE LOWEST OF THE LOW”: Just what kind of low have Filipinos descended into these days? I thought I have already heard all the weird news there are in the world, but our very own countrymen can truly outdo the weirdest of the weird that other people from other nations can muster.

Just consider the example of the 40-year old father from Nabas, Aklan who figured in the news on Monday, September 26, 2016.

A report from Bombo R adyo Philippines (s ee http://www.bomboradyo. com/…/168514-misisna-ayaw-magpasipin…) claimed that the father, Jose “Jun” Villorente boloed his own wife, Maricar, 41, and his own daughter, Jasmine, 22, after he was refused sex

by Maricar.

The report said Jose came home from a drinking spree and perhaps out of

THINK

A Minute

Jhan Tiafau Hurst to tinker!” Ford answered: “Well, I guess you’re right.”

And Ford paid the engineer his $10,000.

Did you know that people will usually accept your own estimate of yourself ?

In other words, they will give you the same worth you give yourself. So don’t sell yourself short! I’m not saying we should go around with big egos and pride, thinking we’re better than other people. But if you have special abilities, training, or experience in a certain skill, then you can have reason to be confident in your special ability and charge what you’re worth.

You may be skilled and good at working with computers, cooking, sales, building, or something else. hurst/PAGE 7

While addiction may have prominent biological or organic causes, we can not and should not forget that it too has spiritual causes. Man is a unity of body and soul.

How the bodily organism is certainly conditions one’s spiritual soul. And viceversa: the state of one’s soul affects the body in some way.

We need to tackle the problem of addiction on both sides, using the means and methods appropriate of each human dimension.

We should not focus on one without considering the other.

While we can recommend some medicine, emotional and psychological counseling, physical therapy and exercises, and others for the bodily aspect of addiction, we should not forget to recommend the proper spiritual means to combat it: prayer, sacrifice, ascetical struggle, recourse to the sacraments, etc.

We shou ld b e cle ar, however, that of the two, the spiritual dimension has greater weight, because it is there where the whole global picture of addiction is found-its causes, prevention and cure.

The bodily dimension only captures a limited part of the whole picture. Addiction is a spiritual and moral problem more than just a

medical one.

The spiritual dimension goes further beyond mate r i a l, bi ol o g i c a l or organic caus es. It go es further than just probing the attitudes and motives that lead to addiction.

In fact, it tries to identify the evil spirit behind such problem. It goes to the root cause and the ultimate cure, rather than just dealing with the symptoms and other inconvenient elements. It goes beyond merely giving palliatives.

I believe that the crisis that we are having today with respect to drug addiction only shows us that we are lagging behind in giving due attention to the spiritual aspect of this problem.

More than that, what we are having is the accumulated effect of decades and even of centuries of neglect in so far as our spiritual life is concerned. If not neglect, then some anomalies be setting our pursuit of the spiritual life.

We are suffering the effect of separating God f rom our p ers ona l life and temporal affairs, or of treating him as irrelevant, a bother or at best a mere ornament in our personal lives and earthly affairs.

We are suffering from the effect of a secularized world

VISIT

OUR

culture.

We now need a lot of making up and of doubling time to cope with the rapidly increasing challenges of our times. We have to look into how we can infuse the proper spiritual nourishment to persons, families, schools, offices, etc., as well as to our institutions, structures and systems-social, political, economic, police, legal and judicial, medical, etc.

It does not mean that by relating things to God we would be completely freed of problems in our life here on earth. We should never forget that we cannot avoid problems, since these are consequences of our condition that is weakened and wounded by sin.

But at least, when everything is related to God, we would still find meaning and purpose in our problems and sufferings. We could still find hope in the worst of scenarios. Our suffering becomes redemptive, rather than just destructive.

Obviously, this spiritual attitude toward the problem should in no way undermine or compromise whatever human care we ought to give to this predicament.

But the human aspect, like the medical, police, legal and judicial aspects, etc., would not be truly human if not infused with the proper

WEB

HINTS

and

Traces

Fr. Roy Cimagala spirit.

I believe this is where most of the problem with regard to this issue arises.

Our spiritual leaders may not yet be up to the challenge.

Most individuals and their families are still awkward about this matter. Our civic and political leaders find it hard to blend spirituality in their field of competence.

We h a v e t o s t a r t somewhere, and that means that each one of us should just find ways of how to enliven his spiritual life in such a way that it can effectively grapple with this drug problem of ours.

Toward this end, we all need to pray, and start to study, make consultations, come up with certain strategies, each one doing his best according to his comp etence and possibilities. roycimagala@ gmail.com.

P O R TA L

CorporateWorld 5 Globe GoWiFi now Eagle Cement to invest powers airports, bus terminals, $300M in Davao plant MRT stations, LGUs Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

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ALMOST half of Filipinos are now online. Approximately, 55% of the online population use smartphones, 43% use their laptops or personal computers, and 24% use tablets approximately 8 hours a day. Evident on the evolving digital lifestyle of Filipinos, Internet access is ver y important when choosing a mall or a cafe and prefer using the free wifi than consume their existing data coverage.

G l o b e Te l e c o m h a s been continuously helping Filipinos expand their digital lifestyle needs. Efforts such as the recently announced extensive reach of fast internet access to 500 public areas in the country is just one of them. From airports to bus terminals, 13 (out of 16) MRT stations, as well as Ayala Malls, Starbucks chains and select convenience stores, to name a few.

L aunched in 2015, GoWiFi, Globe Telecom’s premium open national WiFi network, is now serving close to 3Mn customers per month enjoying speeds of up to 100Mbps, with YouTube

Accelerator, for free for 30 mins per day. As a national wifi network, the service is open to any customer with a wifi enabled device. They just register their mobile number, Globe or non-Globe, for them to enjoy the free premium 30 minutes access. If customers would want to extend their connectivity, they can easily purchase GoWiFi’s best value mobile data offers starting at Php 20 with up to 500MB volume allocation and an additional 250MB YouTube Accelerator valid per day.

Purchase GoWiFi credits can be used in any GoWiFi hotspot!

Connecting to this WiFi is very easy. Enter the verification code sent to your registered mobile number and ask to proceed using the free access. A confirmation will be sent to the subscriber once connected. As soon as the first 30 minutes is consumed, the user will be redirected to the purchase page which has these details below.

As of last month, Globe GoWiFi also expanded its free wifi access to 29 bus gowifi/PAGE 7

E

AGLE CEMENT Corp. will start constructing a $300-million manufacturing plant in Davao City next month, as its Chairman Ramon S. Ang bets on the growth prospects of Mindanao.

In a statement issued on Wednesday, the cement producer and distributor announced it will break ground for the facility on Oct. 20.

The plant is expected to boost Eagle Cement’s production to meet an increasing demand brought by infrastructure activities within and outside the National Capital Region.

M r. A n g , w h o a l s o

MITSUBISHI MOTORS Philippines Corp. (MMPC) will boost production at its manufacturing plant in Sta. Rosa, Laguna in November.

On Wednesday, MMPC announced it will begin twoshift production operations at the Sta. Rosa facility in November, as it seeks to meet the strong demand for

Case No. 14-1923

THIRD NOTICE OF HEARING

This is an application for Certificate of Public Convenience to operate and maintain a waterworks system within the municipality of Sagay, municipality of Catarman and municipality of Guinsiliban, all lo9cated in Camiguin, with the following proposed rates: PROPOSED RATES Residential/Institutional/Public Taps Commercial/Industrial Consumption, cu.m.

Peso/ cu.m.

Consumption, cu.m.

Peso / cu.m.

0-10 (min) ₱40.00 (min) 0-25 (min) ₱ 200.00 11-20 6.00 21-30 8.50 26-1000 16.00 31-40 11.50 41-50 14.50 Over 1000 24.00 Over 50 16.00

Notice is hereby given that this application will be initially heard by the Board on October 24, 2016; hearing will start at 9:00 o’oclock in the morning at the NWRB-WUD Conference Room, 8TH Floor, NIA Building, EDSA, Quezon City at which time applicant shall present its evidence.

At least fifteen (15) days prior to the scheduled hearing, applicant shall publish this notice once in a daily newspaper of general circulation in the province of Camiguin and send by personal delivery or registered mail a copy of (i) the application and its attachment, and (ii) this notice, to all affected parties appearing on page 2 hereof.

Parties opposed to the granting of the application must file their written opposition supported by documentary evidence on or before the above scheduled date of hearing, furnishing a copy of the same to the applicant.

Failure on the part of any affected party of file its opposition on time and to appear at the hearing will be constructed as a waiver of their right to be heard and the Board will proceed to hear and decide the application based on the evidence submitted.

Witness the Honorable Executive Director of the National Water Resources Board this 6th day of September 2016.

By Authority of the Board:

Affected Parties: The Secretary Sangguniang Bayan Camiguin The Barangay Chairman All the Barangays within the Municipality of Sagay Camiguin The Barangay Chairman All the Barangays within the Municipality of Catarman Camiguin The Barangay Chairman All the Barangays within the Municipality of Guinsiliban Camiguin BWM: September 30, 2016

Luzon.

Eagle Cement established its first production facility in San Ildefonso, Bulacan in 2008 and started its commercial operations two years later.

The San Miguel group, which includes Eagle Cement, intends to expand it s c e me nt pro du c t i on capacity by 10 million tons to bring the total to 16 million tons by next year.

T h e c ou nt r y ’s m o s t diversified conglomerate had announced plans to build cement manufacturing plants with annual capacity of 2 million tons each in Bulacan and Cebu, aside from Davao.

Northern Cement Corp., which forms part of the San Miguel group, had announced the expansion of its plants in Pangasinan and Quezon as well.

SMC had i d e nt i f i e d Davao as a key growth area in the Philippines. It also operates a brewery in the province through subsidiary San Miguel Brewery, Inc. In 2013, San Miguel Global Power Holdings, Inc. broke ground for a new power generation facility in Malita. The 300-megawatt plant in Malita lies within the 2,000-hectare industrial estate of SMC accredited by the Philippine Economic Zone Authority.

Mistubishi boosts production at Sta. Rosa

Republic of the Philippines Department of Environmental and Natural Resources NATIONAL WATER RESOURCES BOARD CAMIGUIN INTEGRATED WATER SERVICE COOPERATIVE (CIWASCO),

Applicant. x----------------------------------------------------------x

ser ves as president and chief operating officer of San Miguel Corp. (SMC), revealed plans to construct the Davao plant earlier this year, as part of efforts to strengthen Eagle Cement’s position in the industry.

Eagle C ement will spend $300 million on the manufacturing plant capable of producing 2 million tons or 50 million bags of the construction material annually.

The company produces and distributes the construction material under the brands Eagle Cement Advance and Eagle Cement Strongcem. The products are currently marketed across

(Sgd.) Dr. SEVILLO D. DAVID, Jr., CESO III

vehicles in the country.

In a statement, the local unit of the Japanese automaker said it has already hired an additional 500 employees for the two shifts, as it ramps up local production as part of its participation in the government’s Comprehensive Automotive Resurgence Strategy (CARS) program.

MMPC said the introduction of Mirage in its production line would

increase its output to 39,000 units in 2017, a 47% increase from this year’s 26,470 units.

The Sta. Rosa manufacturing plant has an annual capacity of 50,000 units.

However, MMPC expects challenges as it has been more than two decades since MMPC operated full threeshift production operations in its former plant in Cainta, Rizal.

“Although we are facing

a tremendous challenge that will push us out of our comfort zones, this is a huge opportunity for our future, it will show to our principal, Mitsubishi Motors Corp., and the rest of the world that MMPC is globally competitive, comprised of diligent and determined employees with a passion for excellence,” MMPC President and CEO mitsubishi/PAGE 7

Banking&Finance 6 DOF supports weakening local currency

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thu-fri|september 29-30, 2016

THE Department of Finance (DOF) is favoring a weaker peso to improve the comp etitiveness of the country’s exports and the value of remittances of overseas Filipinos and business process outsourcing (BPO).

Insisting that the peso re m ai ns “ve r y s t rong” in re a l ter ms, Finance

Undersecretary Karl Kendrick T. Chua said in a statement yesterday that the weakening local currency would benefit 40 percent of economy.

Chua, who is also DOF’s chief economist, said the peso is expected to remain “broadly stable” over the medium term as it is propped up by solid macroeconomic fundamentals along with the

steady stream of remittances from overseas Filipinos and dollar receipts from BPO sector.

More importantly, Chua said, “while the peso has moderately depreciated in nominal terms in recent weeks, the peso in real terms is still very strong, which deters competitiveness.”

“This means that the

d e pre c i at i on i n re c e nt weeks is welcomed as it will help improve export competitiveness and value of remittances, which benefits around 40 percent of the economy,” Chua added.

Finance Undersecretary Gil S. Beltran also said “the peso is just seeking its appropriate value, given that it has appreciated significantly

A RANKING central bank official said the Philippine peso remained strong despite recent depreciation and traced this weakness to negative sentiments due to domestic and external factors.

Bangko S entral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo, during an economic forum in Makati City Wednesday, said the local currency was “relatively stronger”

compared to its level during the fiscal crisis in the second half of 2005.

He said the current level of the peso against the US dollar at P48 was still better than the P55-level more than a decade back.

“The best way to assess it is to look at the real effective exchange rate (REER),” he said.

The central bank official said the REER of the peso has declined and

this, he said, was not a bad thing since it only showed improvement in the local unit’s competitiveness. “(This is) not only because of the nominal depreciation of the peso but also because inflation in the Philippines has been low in the last two years,” he said Guinigundo said the peso’s movement could not be attributed to a single factor but to a combination of factors that included

global shocks.

“As far as fundamentals are c onc e r ne d I t h i n k there are outstanding fundamentals. But then the sentiment is something else,” he said.

On Wednesday, the local currency closed to its sevenyear low anew at P48.25, the same as its level last Monday due partly to reports about the higher-than-expected consumer confidence in the US this September.

in previous years.”

“The GIR (gross i nte r nat i ona l re s e r ve s) at $85.6 billion, which is equivalent to 10.5 months of imports, is higher relative to ASEAN (Association of Southeast Asian Nations)

and should not be a cause for alarm,” Beltran said.

Chua said the movement of the peso is in line with the global currency market as the depreciation of about two percent was even lower DOF/PAGE 7

BSP exec says peso remains strong amid depreciation

Lumads welcome Kalahi-CIDSS in Impasugong. The "datus" and "baes" who are Indigenous Peoples Mandatory Representatives of each barangay in the Municipality of Impasugong, Bukidnon, performed a ritual called the "singampo" to accept the Kapit Bisig Laban sa Kahirapan Comprehensive and Integrated Delivery of Social Services - National Community Driven Development (Kalahi CIDSS-NCDDP) Area Coordinating Team (ACT) into the municipality. This was after the ACT conducted the Municipal Orientation.

The Municipal Orientation is the first of 16 steps for a Kalahi CIDSS-NCDDP cycle, which is also the program launching in the municipal level.

Before any KC project can be built, the community undergoes a social preparation consisting of 4 stages including the Barangay Orientation, Participatory Situation Analysis (PSA) and the validation of the PSA results.

The PSA aims to establish a common understanding of the current situation of the area. It extensively analyses and describes the expectations, current socio-economic and political situation as well as the other needs/problems of the community. The data generated by the PSA are used as bases for identifying community development problems and priorities and in planning for appropriate interventions. Photos by Kelvin Wu, KCNCDDP Area Coordinator, Impasugong, Bukidnon

BDO stock rights offer to provide for growth: Fitch DEBT WATCHER Fitch Ratings on Tuesday said BDO Unibank, Inc.’s (BDO) plans to raise up to P60 billion in fresh capital via a stock rights offer would add to the bank’s loss-absorption capacity and provide greater balance-sheet flexibility to fund future growth over the medium term.

In a statement, Fitch said the move will also strengthen the bank’s capital buffer and place the bank in a better position to meet more demanding capital requirements for domestic systemic a l ly imp or t ant banks (DSIBs), which will be phased in from January 2017 to January 2019.

BDO, the country’s biggest bank, announced on Monday its plan to raise up to P60 billion in fresh capital via a stock rights offer to fund its expansion plans and fortify its risk buffers. The fresh capital will also support the bdo/PAGE 7

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thu-fri|september 29-30, 2016

Oil...

bottles, or the so-called the “bote-bote” scheme, and the alleged smuggling of oil products from nearby countries.

The DOE-MFO has already been coordinating with local government units (LGUs) concerned and the Bureau of Fire to eliminate the “bote-bote” scheme while also discouraging consumers from patronizing such activity as this may endanger public safety and health On the alleged smuggling of oil products, the DOE is now in talks with the Bureau of Customs as this may hurt not only the oil industry players, but also the economy of LGUs in Mindanao and the rest of the country. Taxes are lost, affecting the delivery of basic services to our people.

The Energy department earlier coordinated with the Department of Justice (DOJ) to form the DOE-DOJ Task Force to determine any violations of the law. (PNA)

of the country, we expect the influx of investments to continuously pour into Davao, particularly from our Overseas Filipino Workers looking for prime real estate investments, and contribute to the growing demand for affordable condos in Davao.

We also believe that the City has the right fundamentals to attract and sustain business investments in spite of recent events,” Las Marias said.

FLI is one of the country’s leading full-range property developers with almost 50 years in real estate and a diverse project portfolio spanning the archipelago.

In Mindanao, FLI offers a variety of living experiences from gated communities to mid-rise condominiums and resort-inspired residences.

FLI is a subsidiary of the Gotianun-led Filinvest Development Corporation (FDC), which operates a 405MW coal-fired power plant in Misamis Oriental. FDC also maintains two sugar mills and refineries in Cotabato and Davao.

from page 1

from page 1

from page 1

Filinvest...

like FLI to be at the forefront to address this growing demand for af ford able housing especially in Davao City and Koronadal City,” Tristan Las Marias, senior vice-president and cluster head for Visayas and Mindanao, said.

The company recently acquired a 7.5-hectare site in Koronadal City, South Cotabato and a 17-hectare site in Catalunan Grande, Davao City for its economic housing projects catering to the middle market segment (can afford units worth P1.5 million and below). Both projects are targeted to be launched within the fourth quarter of 2016.

Filinvest has allocated a huge part of the development budget for two new MRB condo communities in Davao City - a two-hectare site in Matina area and another 1.7-hectare site near Davao City Hall.

C e nt ro Sp at i a l , t h e 1.7-hectare mid-rise condominium enclave set to rise in the center of Davao City, near City Hall will have five eight-storey mid-rise buildings and would boast of spacious units and complete amenities.

Spatial communities provide a secure and very a c c e ss ibl e home i n an environment with over 65 percentage open space and amenities and is perfect for the budget conscious start-up families.

The second MRB project that will rise on a two-hectare site in Matina, Davao City will also offer spacious units at affordable prices with large open spaces and activity areas.

These new ventures now comprise Filinvest’s total of 24 residential buildings in Mindanao.

“We are excited with the very strong demand for affordable condominium units in Davao City. As Davao City emerges as the new political capital

Strategy...

infrastructure development, there are plans about the construction of the Mindanao railway, port and logistics project.

He said reckoning the Mindanao Jobs report study prepared by the World Bank, 21 agri-commodities were evaluated through the value chains.

To m a s s a i d 1 2 agricultural commodities were identified to be pr ior it ize d to spur t he economy.

He s ai d on t ou r i s m development, biodiversity and ecotourism will be established on the tourism corridor focusing on ecotourism, medical tourism and the establishment of retirement facilities.

Tomas recognized the presence of IT parks in various cities in Mindanao and the jobs they provide for the residents.

He said manufacturing will be encouraged in economic zones focusing on pharmaceutical, petrochemical products, and steel industry.

Tomas said the hosting of the ASEAN convention next year brings a lot of global investment opportunities for Mindanao with many activities for both the private and government sectors set to be held in Davao and Palawan and two summits in Clark, Pampanga and Cebu, respectively.

“We will be hosting the BIMP-Eaga senior officials meeting in November in Palawan. Davao City will also be the host for the ‘ASEAN at 50’ activity on January 5,” he said.

He i d i Vi l l a nu e v a , investments planning of f icer of MinDA, said that there are 80 economic zones in Mindanao which can be broken down into manufacturing, IT-BPM, ag ro - i ndu st r y, me d i c a l f a c i l it i e s an d t ou r i s m .

(PNA)

Railway... from page 1

The senator said the train service should be capable of ferrying not just people but cargo, as the island is an agriculture powerhouse producing, by last count, half a trillion pesos worth of farm produce a year.

Mindanao accounts for half of the country’s corn output, 83% of banana production, 61% of harvested coconut, 90% of pineapple yield, 67% of commercial fisheries catch, and 36% of cattle inventory.

Yet despite posting a gross domestic product of P1.87 trillion, Angara said the island’s 21.9 million people account for 40% of the country’s poor.

“A train system is the ticket out of poverty for many of them,” Angara said, explaining that cheap, reliable, and fast movement of goods would increase incomes and add value to produce.

Angara also noted that the island sits on $310 billion worth of mineral deposits.

“It also has vast potentials for clean energy such solar, w ind, ge ot her ma l, and biomass,” the lawmaker noted.

The senator, who has been filing a bill on MindaRail since his days in the Lower House, said a railway system is not a novel undertaking in the country.

At its peak, the Philippine railway system stretched for 1,140 kilometers on the islands of Luzon, Panay and Cebu.

Mindanao has 2,000 kilometers of gravel roads, Angara said.

“There are some sectors who argue that money which will be spent for paving these would be better used in building a railway,” Angara noted.

In his first State of the Nation Address recently, Duterte said his government will pursue rail projects, such as the Mindanao Rail Project, in major key points of the country.

“I assure you because it’s going to materialize-rail projects, the Davao Transit System, the Cebu Transit System, the North and South Luzon Railways and the Panay Railways project,” Duterte said.

T h e D e p a r t m e nt of Transportation announced it is now open for unsolicited proposals for such rail projects mentioned by the President.

Review... from page 2

(PS) and P183,103.66 million for Capital Outlay (CO), as provided for in the resolution t h at w a s u n a n i m o u s l y approved by the members of the Executive Committee of the CDC. Out of the amount, P94.8 million, or 34 percent will be used for general services, P140.7 million or P51 percent for social development services sector and P41.4 million or 15 percent for the economic development

services sector.

Projects under the supplemental AIP include the upgrading and concreting of farm-to-market roads and rehabilitation and resectioning of Cogon Market Stalls, among others.(JAO/ SP)

he stressed.

T h i s i s an on g oi n g expansion for fast and free internet nationwide by Globe.

The company is currently working on widening its reach to more establishments, other malls, public transportation hubs, schools and hospitals.

from page 2

from page 5

Benefits...

He also underscored the responsibility of accepting the projects by guaranteeing that of the province and the farmers’ role of apportioning funds for the repair and maintenance of the said farm machineries and equipment.

Meanwhile, Engr. Roxana H. Hojas, assistant regional director of DA-RFO 10, corroborated the governor’s statement saying that they should value the projects bestowed to them, as these are tailored fit to reduce their production cost, increase farm efficiency and ensure timeliness of farm activities, which would overall augment farmers’ productivity and income. (JLOlson, DA-RFO 10)

Hurst... from page 4

The One Who really knows your abilities, Who can help you know what they are, is the One Who created you. And no matter how much you’re worth in the world of work and business, your real worth comes from how much your own Maker was willing to pay for you. You see, the price God Himself paid for you was when He gave His own perfect life on a criminal’s cross to save you and me from living without Him and suffering forever.

So why not ask Jesus to forgive you and give you a new life today? He can take full charge of your life every day and show you what you’re really worth.

Just Think a Minute.

GoWiFi... from page 5

terminals such as DLTB and Philtranco Bus Terminals along Edsa, Bataan Transit, ES Transport and Genesis Bus Terminals. Other hotspots include Ayala Malls and fast food chains as well.

“This year, the Globe GoWiFi rollout project will be having two separate phases; first phase has a target of 478 total sites, which we have surpassed already, nationwide and by year end to have a total of 1,000 sites including but not limited to areas such as NCR namely in QC, Manila and the LGUs, Davao, Cebu, Bulacan, Cavite, Cagayan Valley, Cagayan De Oro, Nueva Vizcaya, Dumaguete, Zamboanga and now available in Boracay,” said Albert de Larrazabal, Chief Commercial Officer of Globe.

“Here in Globe, we believe in the power of internet access to support the nation’s state of the internet and therefore helping the businesses and families wherever they go,” added Albert. “Expect an extensive reach of our free access to wifi to more public places by the end of this year.”,

Mitsubishi...

Yoshiaki Kato was quoted as saying in the statement.

According to joint data released by CAMPI and the Truck Manufacturers Association (TMA), MMPC sold 12,121 units in the first half of the year, a tad lower than 12,146 units sold in the same period in 2015.

MMPC is participating in the CARS program, which provides incentives to three car makers to locally produce three car models with a production volume of at least 200,000 units for up to six years, or an average of 33,333 vehicles per year.

It also provides auto manufacturers and parts makers operating in the Philippines P4.5 billion in annual support for six years beginning 2016, or P27 billion in total, as well as other nonfiscal measures.

So far, only two car makers have been registered under the program -- MMPC and Toyota Motor Philippines Corp.

DOF... from page 6

than the fall in the value of the Malaysian ringgit (3.5 percent), British pound (2.7 percent), Australian dollar (2.2 percent) and Japanese yen (2 percent).

“C omp are d to t hes e currencies for the same period, the peso is broadly in line with the market,” said Chua in reaction to the peso’s depreciation by two percent against the greenback from the $1:P47.0 rate last July 1.

But Chua said “we should be prudent to ensure that volatilities are managed.”

The Bangko Sentral ng Pilipinas (BSP) earlier said the temporary depreciation of the local currency is likely to have “minimal” impact on macroeconomic conditions also over the medium term.

“This limited impact on the price level gives flexibility for monetary policy to refrain from reacting aggressively on such movements of the peso,” BSP said.

The central bank pointed out that as a result of the depreciation trend, “the peso gained external price competitiveness against its trading partners.”

BDO... from page 6

bank’s medium-term growth objectives amid the country’s favorable macroeconomic prospects, and provide a comfortable buffer over higher capital requirements with the forthcoming imposition of the Domestic Systemically Important Bank (DSIB) surcharge.

“Fitch views the proposed capital raising as timely, in light of rising capital requirements for larger Philippine banks

7

over the next two to three years.”

The debt watcher noted that BDO would need to have common equity Tier 1 (CET1) of 11.0% of risk-weighted assets by January 1, 2019.

BDO’s CET1 ratio had fallen to 11.3% at end-June 2016 on a consolidated basis (end-2014: 12.4%), which was adequate based on current regulations, but would have left limited headroom above the higher incoming requirement.

“Fitch believes the timing of the proposed capital issuance also reflects the confidence of BDO’s management and board in the medium-term growth prospects for the Philippines.

BDO has stated that the capital raised would allow the bank to take advantage of the country’s growth opportunities citing consumer, provincial middle market and SME and infrastructure-related loans as particular growth areas for the bank,” Fitch added.

In its regulatory filing, BDO said that over the past five years, its customer loan portfolio grew at a 19% compounded annual growth rate (CAGR), outpacing the industry’s 17% CAGR rate.

Moving forward, the Syled bank said it hopes to further expand its presence in emerging growth areas particularly the consumer, provincial middle market a n d SM E s ( s m a l l a n d medium enterprise) and the underserved segments, as well as in infrastructure-related lending/project finance in line with the government’s thrust to promote countryside development and ramp up infrastructure spending.

The new capital will provide BDO with a comfortable loss-absorption buffer as it continues to expand its loan portfolio over the next one to two years, Fitch said.

“Fitch estimates that the proposed P60 billion deal would add roughly 3-4pp to BDO’s consolidated CET1 ratio, equating to about 28.4% of end-June 2016 consolidated total equity,” it added.

Fitch expects domestic economic activity and loan demand to remain wellsupported in the near term, backed by broadly steady overseas remittances and strong consumer and business sentiment.

“The central bank reported that its consumer confidence index recorded its highest ever reading for 3Q16, and the outlook for infrastructure investment in the Philippines remains intact after the change in government, with another P171 billion in projects approved by a cabinet-level board in mid-September,” it further said.

BDO -- ranked as the largest bank in terms of total assets, loans, deposits, capital and trust funds under management as of June -- saw its net income rise by 13% to P13.2 billion in the first half of the year from the year-ago level of P11.741 billion, buoyed by sustained expansion of its core businesses.

The Sy-led bank grew its net income by a tenth in 2015 to reach an all-time high of P25.055 billion.

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thu-fri|september 29-30, 2016

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feature B1

Thu-Fri | September 29-30, 2016

Primavera City breaks ground today

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By MARK FRANCISCO

new landmark is set to rise in the booming uptown district of Cagayan de Oro – the Italiandesigned Primavera City development of publicly-listed firm Italpinas.

Primavera City, the company’s followup offer to its briskly selling Primavera Residences, will break ground today at Pueblo de Oro, uptown Cagayan de Oro. Designed by Italpinas

chair and chief operations officer, his plan for a uniquely-shaped, seventower mixed use project is poised to be a landmark.

Nati, a multi-awarded car designer and green architect, was inspired by

the great cities of the world.

“Singapore has the Marina Bay Sands, Sydney it Opera House, CDO should have an iconic landmark on its own – and we are offering PrimaveraCity,” said the Italian Nati.

The ideas of designing a landmark development in rapidly expanding Cagayan de Oro came naturally to Italpinas, said President Jojo Leviste.

It’s a testament to

Mindanao’s growth in recent years and the anticipated acceleration of that growth.

“Six years ago, we made a bet on Cagayan de Oro and the markets have proven us right – both the property market that bought up our first project Primavera Residences and the stock market which validated our investment in Mindanao,” explained Leviste.

Work on Primavera

City’s two-tower Phase 1 has already begun.

Expected to cost P653 million, the 11-storey buildings are planned to be integrated, comprising residential (nine floors), office (one) and commercial (one) units. This formula seems to work for Italpinas.

A survey ofPrimavera Residences buyers found that 40 percent bought units as second homes while 37 percent did so for investment purposes.

Primavera City lies in a PEZA zone and expects to land BPM locators and other businesses seeking to tap the university town’s rich talent pool.

It is part of Uptown CDO, an area which has seen an influx of homes, schools, shops and offices moving away from the crowded downtown area.

Government offices are expected to follow as part of a Planned City Expansion program.

DA 10 Research Division holds 23rd Farmers’ Field Day

Story and Photo by MARK FRANCISCO SEATED(L-R): Fr. Aristotle C. Dy, SJ, Ph.D., President - ERDA Tech Foundation, Inc.; Jonathan T. Gotianun, Chairman - Filinvest Development Corporation (FDC); Mercedes T. Gotianun, Chairman Emeritus - FDC; Fr. Roberto C. Yap, SJ, President - Xavier University, Ateneo de Cagayan, CDO; Atty. Efren C. Gutierrez, President - Andrew Gotianun Foundation, Inc. (AGFI); Isidro A. Sobrecary, Member, Board of Trustees - Xavier University.

STANDING (L-R): David C. Gotianun, Senior Architect - FDC Hotels Corporation; Andrew T. Gotianun, Jr., Director - FDC; Joseph M. Yap, President - Filinvest Cyberparks, Inc.; Josephine Gotianun-Yap, President and CEO - FDC; Joseph Patrick M. Yap, Special Projects Officer - EastWest Banking Corporation; Francis C. Gotianun, Vice President - FDC Hotels Corporation; Atty. Cornelio Gison, Member, Board of Trustees - AGFI; Jose Sandejas, Member, Board of Trustees - AGFI; Crisanta Legaspi, Executive Director - AGFI; Dr. Gilda Brito, Director - Xavier University Center for Integrated Technologies.

Filinvest to build P500-M school for Mindanao The Andrew Gotianun Foundation, Inc. (AGFI) has inked a Memorandum of Understanding with a pledge of Php500 million to the Educational Research and Development Assistance (ERDA) Foundation and Xavier University to put up a Technical-Vocational High School for scholars at the PHIVIDEC Industrial Estate in Villanueva, Misamis Oriental.

The school, which will be called Andrew L. Gotianun, Sr. Center for Integrated Technologies, Xavier University, is envisioned to produce graduates who are worldready, with international standard competencies, and spiritual and social commitment.

AGFI shall finance

the construction of the school buildings, workshops, and dormitories, as well as the provision of furniture and other equipment, IT, Tech-Voc machinery and transport vehicles. The

Proposed building design

Foundation also commits to partly finance the annual operating costs of the senior high school for the first five years of operations so all its students can attend as full, live-in scholars.

Dedicated to the memory of Filinvest Founder Andrew L. Gotianun, Sr., the school represents his advocacy for education and his commitment to the progress of Mindanao.

THE Department of Agriculture (DA) 10 Research Division, the Northern Mindanao Agricultural Crops and Livestock Research Complex and the Regional Crop Protection Center jointly held its 23rd Annual Farmers’ Field Days from September 26 to 28, 2016 in Dalwangan, Malaybalay City, Bukidnon.

Up until 2015, the celebration used to be called NOMIARC Field Days in ode to the old name of the complex which was the Northern Mindanao Integrated Agricultural Research Center. The name was changed during the Duterte administration early this year.

During the celebration, Agriculture Undersecretary Ariel Cayanan disclosed the government’s plans for a soil fertility and suitability mapping, a comprehensive study on Filipinos’ food consumption, a proposal for a corporate type of farming at the local governments level, introduction of agriculture in elementary education and strengthening the Gulayan sa Paaralan.

Twenty priority crops will then be introduced to the farmers by the Duterte administration under Agriculture Secretary Emmanuel Pinol starting in

2017.

Cayanan also narrated an anecdote of how a pair of human eyes coordinated each movement throughout a lifetime but never see each other. “It’s like between us – the DA central office and you, our beloved farmers. Even though we are just in Manila and you are here and we will never see each other yet our efforts are coordinated,” he said.

One of the newest technologies that NMACLRC has developed this year is the Roselle wine which was made from gumamela. The food technologies at NMACLRC are also currently developing gumamela extracts into capsules and juices. DA 10 Research Division head Juanita Salvani said they are waiting for investors who would mass-produce their prototypes and obtain Food and Drug Administration (FDA) permits. “We are not suppliers, we are merely researchers,” Salvani said.

In his message, Pinol also praised the NMACLRC efforts, saying that it “has generously showcased the wide array of technologies and innovations you have developed or adopted to increase the productivity and profitability of our farmers and fisherfolk.”

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thu-fri|september 29-30, 2016

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE REGIONAL TRIAL COURT SHERIFF NOTICE OF EXTRA JUDICIAL SALE EJF File No. 2016-372 Upon Extra-Judicial Petition for Sale under Act. No. 3135 as amended by act No. 4118, filed ny NATIONAL HOME MORTGAGE FINANCE CORPORATION (NHMFC), as Mortgagee/s, against LUCILO DAGUMO OMANDAM, married to FELMA LASMARIAS OMANDAM AS Motgagor/s, with postal address at Blk.1, Lots 15 & 16, Villa Cabdida, Ph 1, Subdivision, Bulua, Cagayan de Oro City, to satisfy the mortgage indebtedness which as of 05/30/15, amounted to Php 796,275.47., undersigned Sheriff will sell at public auction on October 27, 2016 at 10:00 in the morning to 4:00 in the Afternoon, at the Office of the Clerk of Court, Regional Trial Court, City Tourism Hall, Cagayan de Oro City, to the highest bidder, for cash or manager’s check and in Philippine Currency, the following property described below, to wit;

TCT No. T-79-24 ‘’A PARCEL OF LANF (Lot 16, Block 11, Pcs-104305-000974, being a portion of Block-11 & 17 & Road Lot 13, Psd-10-015484) Situated in the Barrio of Bulua, City of Cagayan de Oro, island of Mindanao, containing an area of Forty Eight (48) sq.m. more or less.xxx

All sealed bids must be submitted to the undersigned on the above stated time and date.

In the event auction sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication.

Prospective buyers may investigate for themselves the title hereinabove described and encumbrances thereon, if any there be.

DONE this 19th day of September, 2016, in the City of Cagayan de Oro.

(Sgd.) ENRIQUE M. TALAG, JR

Sheriff IV BWM: Sept. 23, 30 & Oct. 7, 2016

Catering service owner gets 20-year maximum jail term for unpaid SSS contributions

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n owner of a catering service w a s c onv i c te d by the Regional Trial Court of Quezon City for failure to remit the monthly contributions of its employees to the Social Security System (SSS) in violation of Republic Act 8282 or Social Security Act of 1997.

SSS Assist ant Vice President for Operations Legal Department Atty. Renato Jacinto S. Cuisia said the court has sentenced Henry Marcos, who owns Henry Marcos C ater ing S er vices, to imprisonment of four years and two months as minimum to twenty years as maximum.

Marcos was also liable to p ay P1,358,573.24 in civil liabilities r e p r e s e nt i n g u np a i d contributions of his 11 e mp l oy e e s i n c l u d i n g penalties as of December 16, 2013. In accordance with provisions under

the Social Security Law, a three percent penalty was imposed every month on the delinquency until fully paid.

“We wou ld li ke to remind employers that no matter how small or big their business is, they are required by law to register with SSS and report their employees.

The law did not make any dist inc t ion as to how many employees a company should have before reporting it to SSS,” said Cuisia.

According to t he decision, the state-run institution discovered the delinquent contributions following the examination of records carried out

by SSS Junior Specialist Nenita M. Pascual, who at the time served as an account officer under the SSS Novaliches Branch.

Based on her assessment of the catering s er vice’s employment records, Pascual issued a billing letter indicating

the company’s total SSS delinquency which was duly received on September 22, 2006.

Despite several follow-ups and multiple opportunities given

by S S S t o s e t t l e t h e computed contribution d e l i n qu e n c y, Marc o s failed to comply with t he comp any’s s o ci a l security obligations. The pension fund then issued a demand letter to the company on April 19, 2007.

“As much as possible, we want to avoid the tedious process of litigation and just settle the controversy outside the courts for speedy resolution for the benefit of the company’s workers.

However, since Marcos did not cooperate, we do not have other recourse but to file a case in court,” said Cuisia.

Marcos posted a c a s h b on d t o o bt ai n his provisional liberty on Januar y 26, 2009.

However, he jumped bail after his arraignment on

April 16, 2009. The trial continued despite his absence.

“We ask for assistance from the former employees of Mr. Marcos and the rest of the public in obtaining any information regarding h i s w h e r e a b o u t s . At present, he remains at large and his punishment cannot be meted out,” said Cuisia.

The law requires employers to report all their employees for SSS coverage within 30 days from the start of their employment. Companies are also legally-bound to remit the contributions of their employees to SSS every month. Late contribution payments of employers incur a three percent monthly penalty.

“We urge company employees to monitor their employers’ remittance of their monthly contributions by opening an account at the My.SSS portal of the SSS website at www. sss.gov.ph

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region BRANCH 43 Gingoog City NOTICE OF EXTRA-JUDICIAL SALE File No. 223-2016 Upon Extra-Judicial Petition for Sale under Act 3135 as amended

by Act 4118, filed by RURAL BANK OF BALINGASAG, INC., (RBBI), with Main Office at Rizal corner Malvar Strrets, Poblacion 5, Balingasag, Misamis Oriental against SPS CARLITO OCHEA and EVELYN OCHEA, both of legal age, Filipino citizen with postal address at Brgy. 18-A, City Proper, Gingoog City, Misamis Oriental 9014 to satisfy the Mortgage indebtedness which as of August 18, 2015 have amounted to FORTY EIGHT THOUSAND FORTY & 31/100 (Php 48,040.31) Philippine currency, representing the principal, interest due, penalties and other charges excluding 10% attorney’s fees, and other fees incurred in the foreclosure proceedings, the undersigned Sheriff will sell at public auction to the highest bidder for CASH on November 21, 2016 at 8:00 o’oclock in the morning to 4:00 o’oclock in the afternoon at the Regional Trial Court, Office of the Clerk of Court, Hall of Justice, Dugenio St., Gingoog City, the following properties with all the improvements existing thereon, to wit; TAX DECLARATION NO. 30414 A PARCEL OF RESIDENTIAL LAND, with all improvements thereon, Situated at Brgy. 18-A, Gingoog City, bounded on the North by; Subd. Road On the West by Lot 325 (11810), on the West by Lot 327 (11812) declared under Tax Declaration No. 30414, in the name of CARLITO OCHEA SR. with an assessed value of P 1,590.00 in all area, 123 square meters.

TAX DECLARATION NO. 30415 A RESIDENTIAL BUILDING, erected on the same Lot, constructed with timber below and above under G.I. Roofings. With an assessed value of P 1,590.00 under Tax Declaration No. 30415, in all.

All sealed bids must be submitted to the undersigned on the above stated date and time.

In the event the public auction cannot take place on the said date, it shall be held on the next working day without further notice and posting.

Prospective buyers may investigate for themselves the title of the herein described property/properties and the encumbrances thereon, if any there be.

Gingoog City, September 20, 2016.

FOR THE EX-OFFICIO SHERIFF BY:

BWM: Sept. 23, 30 & Oct. 7, 2016

(Sgd.) FLORA C. PEREZ Sheriff Gingoog City

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thu-fri|september 29-30, 2016

MisOr benefits from DA Mechanization Program CAGAYAN DE ORO CITY -- To drum up the farm mechanization assistance of the agency, the Department of Agriculture – Regional Field Office 10 (DARFO 10) through the Corn Program recently turned over about P4.2 million worth of farm machineries and equipment to the provincial government unit of Misamis Oriental (PLGU-MisOr), in a simple ceremony held at the Provincial Capitol Grounds.

A total of two units farm tractor worth P1,810,000 per unit and two units silage chopper for P292,000 per unit were formally handed over to the province.

The PLGU-MisOr

counter parted 10 percent of the farm tractors’ total project cost and the rest was shouldered by the DARF0 10, while the units of silage chopper were given to the province as full grant from the aggie dept.

Gracing the event to accept the projects in behalf of the farmerbeneficiaries is MisOr Governor Yevgeny Vincente B. Emano, who expressed his sincerest appreciation for the DA, in unwaveringly extending out assistance those targets to mechanize the operations among producers in their respective farmlands, since he has taken helm as governor of the

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12TH Judicial Region BRANCH 07 Tubod, Lanao del Norte IN RE: PETITION FOR CORRECTION OF ENTRY IN THE SPL. PROC. NO. 324-07-2016 CERTIFICATE OF LIVE BIRTH OF RUFINA SEDROME PATIGDAS UNDER THE DATE OF BIRTH FROM - for DECEMBER 18, 1959 TO DECEMBER 18, 1960 and UNDER DATE OF MARRIAGE OF PARENTS FROM Correction of Entry SEPT. 10, 1956 TO SEPTEMBER 11, 1957. TO CLARIFY THE ENTRY UNDER SEC OF CHILD AS FEMALE. RUFINA PATIGDAS-NDABENE,

Petitioner,

- versus – THE LOCAL CIVIL REGISTRAR OF TUBOD, LANAO DEL NORTE,

Respondent.

X---------------------------------------/ ORDER A verified petition for correction of correction of entry in the Certificate of Live Birth of RUFINA PATIGDAS-NDABENE was filed before this Court on September 15, 2016 by the herein petitioner praying among others that after notice and hearing, an Order be issued directing the Respondent’s office to effect the correction sought for.

Petition alleges that she is of legal age, natural born Filipino and naturalized Canadian citizen, married and a resident of Caniogan, Tubod, Lanao del Norte since birth. Respondent is sued in her official capacity as such. Petitioner was born to spouses Liberato Patigdas and Mercedes Sedrome at Caniogan, Tubod, Lanao del Norte. However, the registration of the facts of her birth was only done on June 11, 1987 by her mother Mercedes Patigdas. That unknown to her, her mother registered the date of her birth as 18 Dec. 1956 instead of 18 Dec. 1960 and as can be gleaned in all her document of importance.

Hence, this petition for correction of the entry of the date of birth of petitioner from 18 December 1959 to 18 December 1960. Furthermore, there is also an error in the entry of the Date of Marriage of Parents.

It was entered as September 10, 1956 instead September 11, 1957 as reflected in the Marriage Contract of Petitioner’s parents – Libertad Patigdas and Mercedes Sedrome. Under the category SEX OF CHILD, the entry is not clear that it all needs to be clarified as FEMALE. That she filed this petition in good faith and is not intended to conceal the commission of a crime and/or defeat the investigation and prosecution of the same but with the sole intention to straighten the record of her birth.

Set the initial hearing of this case to December 16, 2016 at 8:30 in the morning before the sala of this Court. Furnish copy of this Order to the OSG, Makati City, Office of the Public Prosecutor, Office of the Local Civil Registrar of Tubod, Lanao del Norte, The Administrator and Civil Registrar, NSO, Quezon City, Metro Manila, Atty. Dorothea Basalo and to the petitioner, in her known address.

Let copy of the Order containing the petition be published in a newspaper of general circulation for three (3) consecutive weeks, at the expense of the petitioner.

SO ORDERED. Tubod, Lanao del Norte.

September 30, 2016.

BWM: Sept.30, Oct. 7 & 14, 2016

(Sgd) DENNIS P. VICOY Acting Presiding Judge

province.

He also underscored the responsibility of accepting the projects by guaranteeing that of the province and the farmers’ role of apportioning funds for the repair and maintenance of the said farm machineries and equipment.

Meanwhile, Engr.

Roxana H. Hojas, assistant regional

director of DA-RFO 10, corroborated the governor’s statement saying that they should value the projects bestowed to them, as these are tailored fit to reduce their production cost, increase farm efficiency and ensure timeliness of farm activities, which would overall augment farmers’ productivity and income.

(JLOlson, DA-RFO 10)

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region Branch 16, Tangub City OFFICE OF THE CLERK OF COURT AND EX-OFFICIO SHERIFF NOTICE OF EXTRA-JUDICIAL SALE EJF-2016-002 Upon extra-judicial petition for sale under Act 3135 as amended

by Act 4118 filed by Lorenzo Tan Multi-Purpose Cooperative (LTMPC), against Anecito U. Toledo to satisfy the mortgage indebtedness which as of July 27, 2016 amounts to One Million Two Hundred Four Thousand Seven Hundred Forty Two Pesos Only (Php 1, 204,742.00) excluding interest, attorney’s fees, and other lawful fees for the service of foreclosure the undersigned Sheriff will sell at public auction on October 10, 2016 at 10:00 o’oclock in the morning or soon thereafter at the office of the Clerk of Court Regional Trial Court, Br. 16, Tangub City, to the highest bidder in cash Philippine Currency the herein mortgage propertiesto wit:

LOT NO.2-C-2-B-6-C-12-PORTION ‘’A parcel of land Lot. No. 2-c-2-b-6-c-12-Portion, Situated at Brgy. IV 01, Tangub City, Island of Mindanao Bounded on the N., by Road; on the S., by Road; on the E., by 061; and on the W., by 062. Having An area of THREE HUNDRED (300) square meters More or less, embraced by Transfer Certificate of Title No. T-1926 (Portion) and declared under Tax Declaration No. 103227.’’

LOT NO.2-C-2-B-6-C-12-PART ‘’A parcel of land Lot. No. 2-c-2-b-6-c-12-Part, Situated at Brgy. IV 01, Tangub City, Island of Mindanao Bounded on the N., by 008; on the S., by 063; on the E., by 008; and on the W., by 088. Having An area TWO HUNDRED EIGHTY (280) square meters More or less, embraced by Transfer Certificate of Title No. T-1926 (Part) and declared under Tax Declaration No. 103226.’’

LOT NO.2-C-2-B-6-C-12-PART ‘’A parcel of land Lot. No. 2-c-2-b-6-c-12-Part, Situated at Brgy. IV 01, Tangub City, Island of Mindanao Bounded on the N., by 008,062; on the S., by 009; on the E., by 062; and on the W., by 008. Having An area of TWO HUNDRED TWENTY (220) square meters More or less, embraced by Transfer Certificate of Title No. T-1926 (Portion) and declared under Tax Declaration No. 107477.’’

LOT NO.2-C-2-B-6-C-12-PART ‘’A parcel of land Lot. No. 2-c-2-b-6-c-6, Situated at Brgy. IV, Tangub City, Island of Mindanao Bounded on the N., by 008; on the S., by 009; on the E., by 060; and on the W., by 063. Having An area of TWO HUNDRED FIFTY FIVE (255) square meters More or less, embraced by Transfer Certificate of Title No. T-1926 (Portion) and declared under Tax Declaration No. 107476.’’

All sealed bids must be submitted to the undersigned on the above stated time, date and place of auction sale.

In the event that the public auction should not take place on said date or there is only one bidder, it shall be held on October 14, 2016 at the same time & place without further notice.

Bidders are enjoined to investigate for themselves any encumbrances on the herein property if any there be.

August 11, 2016, at Tangub City, Philippines.

FOR THE EX-OFFICIO SHERIFF:

BY:

(Sgd.) WILLIAM C. ARANIEGO Sheriff IV

BWM: Sept. 30, Oct. 7 & 14, 2016

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 44 Initao, Misamis Oriental IN THE MATTER OF CORRECTION OF GENDER IN THE BIRTH CERTIFICATE OF REYMARK BUNGALOS DAJIS FROM ‘’FEMALE’’ TO ‘’MALE’’

SPEC. PROC. NO. 2016-1344

REYMARK BONGALOS DAJIS

Petitioner, -versus-

FOR: CORRECTION OF GENDER

THE OIC CIVIL REGISTRAR OF LIBERTAD, MISAMIS ORIENTAL, Respondent.

X------------------------------------/ AMENDED ORDER Finding the petition for Correction of Gender of Reymark Bongalos Dajis sufficient in form and substance, the same is set for hearing on November 07, 2016 at 8:30 o’oclock in the morning, at this court sitting at the Hall of Justice, Poblacion, Initao, Misamis Oriental. The Civil Registrar concerned and any person having or claiming any interest undrer the certificate of marriage whose cancellation/correction is sought may, within fifteen (15) days from notice of the petition, file his or her opposition thereto.

At the expense of the petitioner, let a copy of this Order be published once a week for three consecutive weeks in a newspaper of general circulation in the Province of Misamis Oriental.

Further, let a copy of this Order and the petition be posted at the bulletin boards of the entrance door of this court, Hall of Justice, Initao, Misamis Oriental and Municipal Hall, Libertad, Finally, let a copy of the petition and this Order be furnished to the Office of the Solicitor General and the Office of the Civil Registrar concerned.

SO ORDERED.

Initao, Misamis Oriental, September 28, 2016.

(Sgd.) MARISSA P. ESTABAYA Presiding Judge BWM: Sept. 30, Oct. 7 & 14, 2016 Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 43 Gingoog City OFFICE OF THE CLERK OF COURT & EX-OFFICIO SHERIFF NOTICE OF EXTRA-JUDICIAL SALE File No. 222-2016 Upon Extra-Judicial petition for sale under Act 3135 as amended

by Act 4118, filed by YUSAY CREDIT AND FINANCE CORPORATION (YCFC) with Principal address at Door # 4. ATC Bldg., Luna-Velez Sts., Cagayan de Oro City, represented by its Branch Manager Ruby Ann H. Torrecarion, against LUCILA I. CASTILLON married to ESMERALDO H. CASTILLON, both of legal age, Filipino citizen, with resident of B-8, L-4 Montana Vista Lumbia, Cagayan de Oro City Misamis Oriental, to satisfy the Mortgage indebtedness which as of July 30, 2013, have amounted to FIVE HUNDRED THIRTY TWO THOUSAND TWO HUNDRED TWENTY THREE AND 29/100 ( P 532,223.29) Philippine Currency, inclusive of interest and penalty charges as of August 31, 2016. Excluding foreclosure expenses and other monetary obligation.

The undersigned Sheriff will sell at Public Auction on NOVEMBER 7, 2016. to the highest bidder for CASH at 9:00 o’oclock in the morning to 4 o’oclock in the afternoon at the Office of the clerk of Court, Branch 43, Regional Trial Court, Dugenio St., Gingoog City, the following properties with all the improvements existing threon, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-18241

‘’A PARCEL OF LAND (LOT 1140-B-1-C-3-B, Psd-10-067320 PORTION OF LOT : 1140-B-1-C-3, Psd-10-050973. LOCATION: POBLACION GINGOOG. MIS. OR. ISLAND OF MINDANAO), CONTAINING AN AREA OF FOUR HUNDRED EIGHTY FOUR (484 SQ. M.) SQUARE METERS. MORE OR LESS.’’

All sealed bids must be submitted to the undersigned on the above stated date and time.

In the event the Public Auction should not take place on the said date, it shall be held on the next working day without further notice.

The prospective buyer/s may investigate for themselves the title of the herein described property/properties and the encumbrances thereon, if any there be.

Gingoog City, September 6, 2016.

FOR THE EX-OFFICIO SHERIFF BY:

BWM: Sept. 16, 23 & 30, 2016

(Sgd.) FLORA C. PEREZ Sheriff IV RTC-Branch 43 Gingoog City

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thu-fri|september 29-30, 2016