BusinessWeek Mindanao (September 6-8, 2015)

BusinessWeek MINDANAO

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Volume VI, No. 031

Market Indicators

As of 6:00 pm september 4, 2015 (friday)

FOREX

PHISIX

US$1 = P46.73

7,086.86

X

no changes

X

11.95 points

Briefly Farm research AN agriculturist and farm manager in Bukidnon admits that climate change is indeed felt and affecting crop production that is why research, technology and development is needed for sustainability.

Fernando Villarino, agriculturist and farm manager at Valley Fresh Garden Farm in Barangay Dahilayan, Manolo Fortich, province of Bukidnon said during an interview on 3 September 2015 that their biggest problem is the sudden change of climate wherein there is too much heat and also too much rain.

He says too much rain ruins the crops and ultimately affects production.

Best products THE Department of Trade and Industry (DTI) region 10 awarded best products in Northern Mindanao during the closing program of ‘Kahimunan’ Trade Fair held from 22 – 30 August 2015 at SM mall, Cagayan de Oro City.

According to Irwin Jayson Jamaca of DTI region 10, this is to stir competitiveness and encourage the value of excellence among Micro Small and Medium Enterprises (MSMEs).

Categories for best products included: Best Product Design for Housewares & Furnishings, Best Product Design for Fashion Accessories and Most Innovative Food Product.

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P15.00

Online hiring in PHL down by 36% in July

By BONG D. FABE, Contributing Editor

F

EWER Filipinos have found employment through electronic recruitment as only hiring activity in the country declined by 36 percent year on year (YOY) in July, according to the Monster Employment Index (MEI) Philippines.

MEI data also showed a four percent drop in e-recruitment activities in June 2015.

T h e pro du c t i on / m a nu f a c t u r i n g , automotive and ancillary industry registered the lowest growth YOY at -57%, just behind engineering, construction and real estate at -50 percent.

“It is not surprising that the production and manufacturing sector and engineering and production jobs are still seeing the steepest decline across the Philippines. The industry has been in turmoil for the past one to two years as it has faced numerous online/PAGE 11

YELLOW FIN TUNA. A laborer lifts a 39-kilo yellow fin tuna during a contest inside the fishport in General Santos City. The participant who can lift the tuna longest wins the game. The event is part of the 17th Tuna Festival. mindanews photo by keith bacongco

IRR for new wage hike takes effect

By CHENG ORDONEZ, Associate Editor and MARK FRANCISCO, Staff Writer

WORKERS in the private sector in Northern Mindanao finally have an additional

P12.00 hike in their daily wages effective July this year, after the Regional Tripartite

Wages and Productivity Board (RTWPB) approved the new wage order.

Mandated under the Wage Rationalization Act, also known as RA 6727,

the RTWPB is mandated to periodically assess the wage rates and conduct continuing studies in the determination of t he m i n i mu m w age irr/PAGE 11

PDIC to pay depositors of closed Bukidnon rural bank THE Philippine Deposit Insurance Corp. (PDIC) will service the deposit insurance claims of depositors of the closed Xavier-Punla Rural Bank, Inc. on Sept. 9 and 10, 2015, 8:00 a.m. to 5:00 p.m., at the bank’s premises located at Poblacion, Pangantucan, Bukidnon.

Depositors with valid deposit balances of P100,000 and below, with complete mailing address found in the bank records, or updated through the Mailing Address Update Form, without any outstanding obligation with the bank, and whose deposits have been evaluated to be eligible for early payment, do not need to file deposit insurance claims.

Depositors required to file deposit insurance claims are those with account balances of more than P100,000, those with outstanding obligations with the bank, with incomplete mailing address, those who maintain the account under the name of business entities, or those with accounts not eligible for early payment, regardless of type of account and account balance. The announcement on the claims settlement operations of Xavier-Punla pay/PAGE 11

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Economy

Inflation dips to all-time low of 0.6% in August

L

OWER food and energy and oil rates further pulled down Philippine inflation rate to its new lowest level in August, bringing average inflation in the eight months below the government’s target range for the year.

The Philippine Statistics Authority reported Friday that the country’s headline inflation rate tapered down to 0.6 percent in August from 0.8 percent in the previous

month.

The August inflation brought the year-to-date headline inflation to 1.7 percent, below the target range of 2.0 to 4.0 percent set by the government for 2015.

Core inflation—which excludes selected volatile food and energy prices—also slid further to 1.6 percent from 1.9 percent in July 2015.

“The current low inflation

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environment exhibited in the first eight months of 2015 has supported domestic demand, particularly household consumption, and we expect this to persist throughout the rest of the year,” said Socioeconomic Planning Secretary Arsenio M. Balisacan.

Meanwhile, headline inflation in the food subgroup continued to ease in August 2015 following slower price adjustments in almost all its sub-items such as breads and cereals, fish and fruits.

Lower electricity rates and oil prices significantly affected price movement of non-food commodities, which was slower at 0.2 percent in August 2015 from 0.4 percent the previous month.

Furthermore, inflation in the National Capital Region was also slower in August 2015 relative to the previous month, while inflation in the other regions of the country

remained unchanged.

However, Balisacan noted that there is still an upside risk to inflation from the expected strengthening of the El Niño in the country

in the coming months until early 2016.

“We need to reinforce our El Niño preparations to ensure food security. The strong collaboration of the

national government, local government units, and the private sector is essential to the success of efforts to mitigate the effects of El Niño,” he said.

Power coop to consumers:

Start conserving energy now KORONADAL City -- To c ushion t he imp ac t of the dreaded drought, the South Cotabato Electric Cooperative (SOCOTECO-1) will utilize its 13-megawatt modular generator sets to fill up the impending lack of power supply.

Santiago Tudio, general manager of SOCOTECO 1 s ai d t hat t he p owe r cooperative has standby generator sets that could be used when the need arises.

State weather experts said a strong El Niño phenomenon is expected to hit the country this month or next month w hich proj e c te d to b e

stronger than the 1997-1998 dry spell. “ We h av e p r e p a r e d measures to ensure steady supply of power during the extra dry season, or at least limit the number of hours of power interruptions,” Tudio said in Filipino.

“Start conserving energy now,” Tudio told power concessionaires in the city and five other towns in South Cotabato.

He said b esides the modular generator set that the power cooperative owns, SOCOTECO has a diesel powered plant in Barangay Paraiso, Koronadal City to

provide additional power for the city and nearby town.

Also, when completed and operational, the fivem e g aw at t s o l a r p ow e r plant in Surallah, South Cotabato could also augment power supply, Tudio said.

Construction for the solar power plant has started with a German firm.

The additional power sources would mean a slight increase in consumers’ electric bills.

“While we need to shoulder additional expenses, we need to accept the fact that climate change is changing our lives,” energy/PAGE 11

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Our Australian, Mexican and Czech comrade-in-arms

S

eventy years ago, on S eptemb er 2, Jap an formally signed the Instrument of Surrender.

The following day, General Yamashita emerged from his hideout in Kiangan, ifugao signaling the end of formal hostilities in the Philippines.

We often celebrate the braver y and heroism of the Filipino and American soldiers who fought and died in Bataan and Corregidor, in Leyte, Manila, Bessang Pass and other fields of glory.

Regrettably, we have little recollection of our other allies who also did their share of the heavy fighting during that period.

For instance, few know t h a t 4 , 0 0 0 Au s t r a l i a n servicemen were among the liberation forces that landed in Leyte in October 1944. 92 died during the Philippine campaign. Among them were the 9-men crew of a Royal Australian Air Force Catalina that crashed over Manila Bay. The next biggest group of non-American allies who fought in the Philippines were the Mexicans. They belonged to the Fuerza Aerea Mexicana (FAM) - the Mexican Air Force. During the early stages of the war, the Mexicans concentrated

Member:

Oro Chamber

L

Christmas Everyday hink a minute…Just because Christmas is over doesn’t mean we must stop giving things to others. In fact, we should enjoy Christmas day every day of the year!

We could call these daily gifts “Our daily Christmas celebrat ion.” At le ast 1 a day will make a big difference in your life and in the lives of others around you. Here are a few suggestions.

Make peace with s omeone you quarreled with. Find a forgotten friend. Pay a long overdue debt. Be gentle and patient with an angr y person. Make a child h a p p y. M a k e o r b a k e something for someone else - anonymously! Let go of a grudge. Make the time to listen to your child’s real feelings and interests.

Keep a promise. Forgiven an enemy. Express thanks to your wife, husband, or children for what they do e ver y d ay. Bre a k a b ad h a b i t a n d s t a r t a n e w, good one in its place.

Speak kindly to a s t r a n g e r. L o w e r y o u r demands and expectations of others. Be honest. Take your wife out on a date.

Work harder at your job

on local defense but in 1943 President Roosevelt managed to convince Mexican President Avila Camacho to participate offensively in the war.

President Camacho asked the Mexican Senate for permission to send troops abroad. Permission was granted.

Camacho had a choice of sending the Mexican expeditionary force to Italy to fight alongside a Brazilian contingent. But Camacho opted to send his troops to the Philippines.

There, Camacho said, the unit could aid “the liberation of a people for whom it (is) felt a continuity of idiom, history and traditions.”

The Mexican expeditionary force consisted of 300 officers and enlisted men from all branches of the military, including 38 pilots. The force was commanded by Colonel Antonio Cardenas Rodriguez.

Before leaving for the Ph i l ippi ne s , t he pi l ot s trained in Victoria, Texas and later in Pocatello, Idaho where they transitioned to Curtis P-40 Warhawks and P-47D Thunderbolts, respectively.

On arriving in the Philippines on May 1, 1945,

the Mexican expeditionary force was assigned to an air field in Porac, Pampanga where they were attached to the US Air Force 58th Fighter Group.

From Porac, the Mexicans ( w h o h av e n i c k n a m e d themselves Aztec Eagles), flew combat sorties to aid ground troops fighting in the Marikina watershed and later, in Bessang Pass.

In and around Bessang Pass, close air support proved crucial. It was especially difficult for the Aztec Eagles as they had to bomb and strafe hard-to-see Japanese positions which were very close to friendly forces.

Five of the pilots later became FAM generals. After the war, others worked in aviation, business and the academe until their retirement.

The Czech Volunteers Again, not very many know about the 14 Gallant Czechs.

The Czechs were the only other nationals who volunteered as a group and fought alongside US and Filipino troops in Bataan.

Karel Aster was one of the Gallant 14. Aster was then an employee of a Czech shoemaking facility in Manila called Bata Co. Without any hesitation,

SPEAKING

O ut

Ignacio Bunye Aster and 13 compatriots signed up for Bataan. 7 of them died either in combat or during the Death March.

As t e r w a s c o n f i n e d initially in Cabanatuan. In a move to decongest the POW camp, white prisoners were eventually shipped to either Japan or Formosa.

Aster was transferred to a coal mine in Japan where he did forced labor until he was released at the end of the war.

Aster and his compatriots were recognized by the Department of National Defense and conferred the Medal of Victory and the Medal of Defense. They are also honored in a special memorial in Capas National Shrine.

Note: You may email us at totingbunye2000@gmail. com.

Prayers that God listen to

Philippine Press Institute

T

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THINK

A Minute

Jhan Tiafau Hurst a n d c a r e e r. S h o w t r u e compassion and put yourself in the other p e r s o n’s p l a c e . L a u g h and have fun with your family. Take the time to talk and listen to an older person. Offer to baby-sit for a tired mother. Buy someone a meal or an ice cream. Apologize if you’re wrong. Give your teacher a break and do your best.

Give your students a break and be realistic in your requirements.

Let’s make Christmas one life-long gift of ourselves to others. Oh yes, one more suggestion.

Give you r l i fe to Je su s Christ by loving Him and living His way ever y day.

After all, He died to give His life to you.

Just Think a Minute…

IFE’ INSPIRATIONS: “… T h e pr ayer of a righte ous man is both powerful and effective…” ( James 5:16, the Holy Bible).

-ooo P R AY E R S T HAT GOD LISTENS TO: My brother Philip (the one who immediately followed me two years after I was b or n not s o l ong ago) engaged me in a spirited discussion about my column entitled “Facebook prayer avalanche: from the devil?”

The discussion was publicly made through Facebook likewise, and I wish to share them among our readers here, too.

Here goes the exchange: Philip L. Mauricio: When you pray to support all those who have family problems, health struggles, job issues, or worries of any kind, is that praying to the devil?

When I pray or offer prayers to anybody aforementioned, am praying to the Lord God Almighty!

Melanio Lazo Mauricio Jr. : You r s i s a c or re c t assumption. But the truth is that, even Jesus said NOT all prayers are acceptable to Him, and NOT all prayers would be listened to by Him. It is therefore important to know what is the prayer God listens to, or is answered by

Him. Sometimes, because the prayer is not that which God listens to, it brings more harm than good.

-ooo CAN PRAYING FOR OTHERS BRING HARM? Philip L. Mauricio: Tama ka rin dyan, pero God knows and listens to sincere prayers and when you pray to help others who are sufferring or going through something, isn’t that acceptable to Him? Will that bring more harm than good? Praying for others?

Melanio Lazo Mauricio Jr.: Also, the point of the column is not that prayers for those problems come from the devil or are for the devil. No, the column did not say that. What the column said was, the post and the request to repost that post, in that they give t he impression t hat by simply posting that post the problems would already be solved, is deceptive and misleading. It is only by tr uly seeking God that problems are solved.

Melanio Lazo Mauricio Jr.: Now, about your claim that God knows “sincere prayers”, the question that believers should ask is, what is a “sincere prayer” that God accepts and listens to and answers? Unfortunately not many people know, or

would even care to know, what is a “sincere prayer” as far as God is concerned, even if it is easy to know, just by simply reading the Bible.

-ooo WHO IS THE RIGHTEOUS WHOSE PR AYERS ARE A N S W E R E D ? Me l a n i o Lazo Mauricio Jr.: Many would be content to say they are praying... Yet, many prayers go unanswered.

Why? Because they are not the sincere prayers God requires. Insofar as praying for others are concerned, the Bible tells us that only the prayers of a righteous man is both powerful and effective. Now, it may be asked: what is a “righteous” man whose prayers are both powerful and effective?

Believers would not even have even the slightest idea.

So, indeed, their prayers are truly useless, and insofar as those prayers offer false hopes, they are virtually harmful. Philip L. Mauricio: How can you say unanswered when they say God answers prayers in His time, so just be patient.

Melanio Lazo Mauricio Jr.: Ha ha ha... well, who said that that? Who said “God answers prayers in His time, so just be patient”? What God said is this: Not all who

K akampi

Mo A ng Batas

Atty. Batas Mauricio pray to me and call on me “God, God” will enter the kingdom of heaven. Then, God said, only one class of people will be able to have their prayers answered and granted.

Philip L. Mauricio: And who are they? Melanio Lazo Mauricio Jr.: Read Matthew 7:21-23, the Holy Bible!!!

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

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Environment

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CBCP acknowledges role of millennials in protecting, saving the environment M ANILA – The Catholic Bishops’ C on fe re n c e of the Philippines (CBCP) acknowledged the role of the millennial generation in protecting and saving our environment.

CBCP President Archbishop Socrates Vi l l e g a s e x pre ss e d t h e need to reach out to the millennial generation.

“We need the millennials.

The home that God entrusted to us is dying and

it’s obvious with the climate change and irresponsibility we’ve tolerated for too long,” Villegas said.

He also said that their (millennials) help is needed especially in this fast changing time adding that

they bear the responsibility of understanding and evolving not just with the environment but with the faith as the times do.

Archbishop Vi l legas f u r t h e r e x pl ai n e d t h at millennials have the power

to communicate effectively and instantly compared to the older generations. “ We h o p e t h a t b y reaching out to them, they can help us reach out to more people. They do that so naturally and so effortlessly

already. The same way the Word of God is something we’re naturally drawn to, we hope that they share the same message of caring for our only home,” the prelate added. (CBCP/JEG/PIANCR)

CRDRRMC calls on LGUs for cooperation Revision of PHL power dev’t plan in preparation for early recovery phase urged to dovetail with UN goals BAGUIO CIT Y -- The Cordillera Regional Disaster Risk Reduction and Management Council (CRDRRMC) calls on local chief executives for their cooperation in the delivery of relief goods and family packs to Typhoon Ineng and the monsoon-affected families in their respective areas.

CRDRRMC chair and Office of Civil Defense Regional Director Andrew Alex Uy, in the Response Cluster meeting at the OCD Operations Center, directed the cluster member agency to focus on relief and family packs delivery to affected families.

“We have to focus on the delivery of the relief goods and family packs that were

requested and we need the LGUs’ cooperation so that we can immediately prepare for the early recovery operations phase,” Uy stressed.

CRDRRMC Response Cluster chairperson and Department of Social Welfare and Development Regional D i r e c t o r Ja n e t A r m a s reported that there are still requests of family packs and other non-food products that are set for delivery.

She also reported that 4,000 family packs each were already delivered to the provincial government of Benguet and Abra.

As of the CRDRRMC Sept. 1 situation report on the effects of Typhoon Ineng enhanced by southwest monsoon in the

Cordillera, 25 individuals were confirmed dead, six injured and 7 others still missing. Affected families reached 38,578 or 132,374 individuals. There were 127 totally damaged houses 944 partially damaged houses.

As for damages to infrastructure, the DPWH reported around P156.77 million worth of damages in national roads/bridges and P435.59 million on local roads, while the NIA

submitted a damage report to irrigation of P511.46M. Damages to agriculture r i c e - P 2 3 . 6 1 M , c or n P82.61M, high value crops-P361.55M, livestockP10.11M, fishery - P1.71M and agri-land- P24.42M. Assistance given by LGUs (monetized value)was pegged at - P339,568.50 while assistance from DSWD-CAR (monetized value) reached P3.57 M. (JDP/CCD – PIA CAR)

MANILA -- The Philippine Power Development Plan 2009-2030 must be significantly revised in mid-stream to allow for the submission of a credible “intended nationally determined contributions” (INDCs) to the UN Framework Convention on Climate Change Conference in Paris next December.

This was pointed out by Climate Change Commissioner Heherson T. Alvarez who said that

under the existing plan, there is no way that the Philippines will be able to reduce its greenhouse gas emissions to conform with the UN mandate since coalfired power and diesel plants dominate the country’s energy sector.

“Unless we act forcefully, the trajectory of the Philippine plan will lead us to embrace the highest share of coal dependency in Asia by as much as 75 percent of our revision/PAGE 11

Ozamiz City cites winners in NDCM IEC contests

By Rutchie Cabahug-Aguhob

OZAMIZ CITY, Misamis Occidental – The Ozamiz City G overnment has awarded the winners of the Poster-Making, EssayWriting and Oratorical C ontests held dur ing the culmination of the July National Disaster C onsciousness Month (NDCM).

P a r t of the information, education and communication (IEC) campaign on NDCM, the

activities focused on this year’s theme:”Pamilya at Pamayanang Handa, Katuwang sa Pag-unlad ng Bansa (Prepared Families and Communities, Partners in National Progress).”

Held at the Ozamiz City C entral S chool (OCCS), the contests were participated by students from the city’s secondary schools, Dr. Rebonfamil R . B aguio, s cho ols winners/PAGE 11

Governor Bambi Emano greeted by the teachers during his recent visit in Igpit Elementary School. photo courtesy of governor bambi emano ’ s facebook

page

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CorporateWorld 7 Del Monte Pacific incurs $12M loss in May-July 2013 ppi’S Best in Business and Economic Reporting

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EVEN with higher sales in the first quarter, Del Monte Pacific Ltd. (DMPL) still booked losses in the period ending July, although this was lower than the same period in the preceding fiscal year.

In a disclosure on Friday, the company said it incurred a $12.02-million net loss in May to July, the first quarter of its 2016 fiscal year, versus the $21.896-million loss in the same three months a year ago.

A separate statement submitted to the bourse showe d t he c omp any ’s bottomline was weighed by the first-quarter performance

of Del Monte Foods, Inc. (DMFI), which was tagged as “the seasonally weakest.”

In February 2014, DMPL completed the acquisition of US-based Del Monte C or p.’s consumer fo o d business, which has since been renamed as DMFI. It also cited “expenses from SAP implementation,” or a systems upgrade utilized by companies like DMPL for their operations.

DMPL also said the El Niño phenomenon “caused reduced pineapple supply in the Group’s plantation in the Philippines, leading to lower exports.”

Still, the company recorded a positive topline after sales rose 6% to $472.8 million in the first quarter from $445.6 million in the same period the past year.

DMPL said “DMFI generated higher sales, achieved higher gross margin and recorded higher gross profit, but due to seasonality it incurred a net loss for the quarter.” “ H o w e v e r, m a r k e t share across core retail segments maintained their strength as DMFI further developed partnerships with key retailers through investments,” it added.

Nils Lommerin, DMFI chief executive officer, was quoted in the statement as saying that the company’s “financial performance tends to be skewed towards the second half of our fiscal year when Del Monte is the brand of choice for festive occasions.”

Mr. Lommerin added the financial results are expected to further improve with efforts to penetrate the food service sector and Asian market. The company also plans to enter new vegetable segments.

For the Philippines alone, DMPL noted sales grew by

7% due to increased demand for packaged and mixed fruit and beverage.

Sales of the S&W branded business in Asia and the Middle East, likewise, posted a 10% improvement as the agreement to jointly explore strong performance of fresh investment opportunities in pineapple exports offset the Philippines, according to weakness in the packaged segment. the regulatory filing.

Mr. Francia declined to “We have successfully disclose the value of the laid a solid foundation from which we will execute our transaction.

Besides AC Energy and growth plans in the coming now the Mitsubishi group, the quarters,” said Joselito D. other shareholders in NLREC C amp os, Jr., manag ing are Philippine Investment director and chief executive Alliance for Infrastructure officer of DMPL. Fund (PINAI); and UPC “B ar r ing unfores een Philippines Wind Holdco circumstances, we look for ward to a return to I.B.V. The ownership structure profitability in FY2016 of NLREC, Mr. Francia said, (fiscal year 2016), which mitsubishi/PAGE 11 will generate more free cash

Mitsubishi buys into PHL wind farm with Ayala deal JAPAN’S Mitsubishi Corp. bought into the operator of an 81-megawatt wind farm in Ilocos Norte following the divestment of a subsidiary of its partner Ayala Corp.

The buyer was Mitsubishi subsidiary DGA NLREC B.V., while the seller was Ayala unit Ayala International Holdings, Ltd. The subject of the deal was Luzon Wind Energy Holdings B.V., which “owns part of Ayala’s stake in North Luzon Renewable Energy Corp. (NLREC), being held by its wholly-owned subsidiary

AC Energy Holdings, Inc.,” according to a disclosure Ayala Corp. filed with the stock exchange.

NLREC owns the wind farm in Barangay Caparispisan in the coastal resort town of Pagudpud in Ilocos Norte.

“After the sale of Luzon Wind, AC Energy... still remains the largest owner of NLREC with an economic stake of approximately 36%,” read the disclosure.

The move would give the listed conglomerate fresh capital for future investments,

a company official said. “ The sale allows AC Energy to recycle capital for future investments and at the same time realize value,” said Ayala Managing Director John Eric T. Francia.

“It also allows us to further strengthen NLREC shareholder group with the entry of Mitsubishi, which has been a long-term partner of Ayala,” Mr. Francia, who also sits as president of AC Energy, added.

Ayala and Mitsubishi have been partners since 1974 when they signed an

flow to allow us to deleverage further,” he said.

DMPL -- which is not affiliated with other Del Monte companies worldwide -- holds the rights to the Del Monte brand in the Philippines, the Indian subcontinent and Myanmar and is controlled by the Campos family’s NutriAsia Pacific Ltd. It is an investment holding company with subsidiaries that are principally engaged in growing, processing, and selling canned and fresh pineapples, pineapple juice concentrate, tropical mixed fruit, tomato-based products, beverage products and certain other food products mainly under the brand names of “Del Monte,” “S&W” and “Today’s.”

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The 2nd Ostrich Festival Culinary Competition Champion:

Apple Tree Resort and Hotel Article and Photos by Clement Dampal II

T

he Municipality of Opol announced Apple Tree Resort and Hotel, the premier Resort and Hotel in Northern Mindanao, as the Champion of the 2nd Ostrich Festival’s Culinary Competition held last September 03, 2015 at Taboc Gym, Barangay Taboc, Opol, Misamis Oriental.

Participated by the Chefs/Cook coming from different establishments particularly in Opol namely Titing’s Kitchenette, Prawn House, Panagatan Restaurant, Seablings Restaurant, and Apple Tree Resort and Hotel competing for the 2nd Culinar y Competition using the Ostrich meat as the main ingredient with this year’s theme: “Subayon ang usa ka tinguha hangtud nga magmalampuson”, the said competition was evaluated by qualified and experienced panel of judges started with Chef Candice Maureen Riconalla-Chan, and Chef Audrey C. Ramos, both from the Culinar y Institute of Cagayan de Oro joined

by Chef Nelia B. Lee, President of COHARA (Cagayan de Oro Hotels and Restaurants Association) who served as the Chairman of the Board.

Criteria for Judging includes the presentation and general impression with 25% from the total score which stated that the dishes should be appetizing, pleasing, tasteful, and attractive and the meat slices should be in proportion.

Composition about 25% includes the taste that should be in accordance to the national standards of nutritional values,

color and flavor should enhance each other with the taste of the main ingredient that is the Ostrich meat and is naturally enhance.

Another standard for evaluation includes the correct preparation of the dish at about 20% which includes the sanitary and hygienic handling of food and cleanliness in the working area. To sum up the 100% possible score, the X-Factor also known as the Local Captivating Name of the dish composes of 10% was included, wherein the dishes must have that “special something”.

BACK TRACK: THE BUSINESS OF OSTRICH FARMING IN THE PHILIPPINES History suggests that in 1996, Mr Lorenzo U. Limketkai, an engineer together with his son Mr Heintje Limketkai started the business of ostrich farming in the Philippines and named it as the Philippine Ostrich and Crocodile Farms, Inc. becoming the pioneer of the Ostrich and Crocodile Industry in the country.

The father-andson tandem bought their first three pairs of breeding Ostriches from Australia in July 1996 wherein Mr Heintje took a monthlong training course on Ostrich farming on the said country.

Soon after, the first

Chef Candice R. Chan (Culinary Institute of Cagayan de Oro)

Apple Tree Resort and Hotel announced as the Champion for the 2nd Ostrich Festival Culinary Competition

Apple Tree’s winning dish, “Ostrich A la Hamburger”

Ostrich Farm was opened in Barangay Malanang, Opol, Misamis Oriental.

Accordingly, the first Ostrich egg was laid on August 30, 1996, however, the hatching was a failure. A year after, a successful egg-hatching was celebrated for the first time in Februar y 1997 as a live Ostrich chick hatched after a series of improvements

Chef Nelia B. Lee (COHARA President)

John Rey Colance and Ronel Caligang of Apple Tree Resort and Hotel

of the egg-handling techniques and upgraded facilities.

And the rest is histor y…

Ms Noemi Marla C. Cinco, the LGU Opol Tourism Officer excited to announced

the winners of the said cooking competition.

Panagatan Restaurant was hailed as the 2nd Placer while the Prawn House Restaurant proclaimed as the 1st Placer. Apple Tree Resort and Hotel on

Chef Audrey C. Ramos (Culinary Institute of Cagayan de Oro)

the other hand, the first timer of the said event declared as the Champion for the Ostrich Festival’s 2nd Culinary Competition garnered a 90.11 percentage of score.

Apple Tree Resort and Hotel’s Chefs John Rey Colance and Ronel Caligang showcased their entries during the completion with these dishes: Ostrich Steak with mashed potato and honey-mustard sauce, Ostrich A la Hamburger and the Ostrich Kebab with Rice Pilaf that wowed the judges.

Congratulations to all the participants and winners of the 2nd Ostrich Festival Culinary Competition and have a Happy Fiesta to the Municipality of Opol!

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T

HE COURT of Tax Appeals (CTA) has denied a Davao City rural bank’s P152.5-million refund claim on the payment of gross receipts tax for 2012.

In a 19-page decision dated Aug. 20, the tax court

en banc affirmed the CTA Second Division’s April 2014 decision that said One Network Bank, Inc., a product of the 2009 merger of two banks, could not be given a fresh five-year tax exemption as provided under the Rural

Act of 1992.

It rejected the bank’s argument that the special law did not set a condition that only new banks, not merged ones, can avail of a tax exemption for the first five years of operations.

Instead, the tax court said the Corporation Code s u p p l e m e nt e d t h i s by considering consolidated banks as the surviving entity owning the rights, privileges and immunities of the original firm.

The tax court also said the Rural Act only granted other incentives to consolidated banks that merged within three years of enactment, giving them such perks that lasted up to seven years.

Noting this, the tax

court affirmed the Bureau of Internal Revenue’s Revenue Memorandum Circular No. 66-2012, which did not allow consolidated banks to avail of the five-year exemption, as the correct way to implement the law.

Loans granted to BSP expanding coverage of RRPI households increase in Q1 THE Bangko Sentral ng Pilipinas (BSP) is expanding the coverage of its assessment of bank’s exposure to the real estate sector.

BSP Deputy Governor Diwa Guinigundo said they are also extending the areas of coverage, which currently only involves banks in Metro Manila.

He said they will now check not only whether the real estate loans are for commercial or residential borrowers but also the cost of materials used in these real estate projects, among others.

The central bank is scheduled to release late this year its real estate price index (RRPI), he added.

The BSP bank has focused on the expanded coverage of

the index in a bid to check impact of developments in the real estate sector to the banking sector and to ensure that asset price bubble would be prevented.

Asset bubble forms when prices of specific asset classes rise uncontrollably because of over excess demand.

Some analysts have raised the possibility of an asset bubble in the country due to increased exposure of banks to the real estate sector.

Monetary officials, on the other hand, maintain that signs of bubble has not materialized thus far.

In end-2014, real estate exposures (REEs) of universal and commercial banks (U/ KBs), thrift banks (TBs) and banks’ trust departments amounted to P1.221 trillion,

up by 5.2 percent against the P1.159 trillion in endSeptember 2013.

The expansion was traced to banks’ real estate loans (RELs), which grew by 6.8 percent quarter-on-quarter to P1.043 trillion.

Bulk of the banks’ RELs were extende d to land developers, construction firms and other corporate entities while the balance of 40 percent is for individual households for occupancy.

In the second half of 2014, the BSP conducted stress tests to Philippine banks to monitor among others their real estate exposure and their ability to cover these debts.

Under the said test, U/ KBs and TBs have to meet the 10 percent regulatory requirement for qualifying

capital after they have been put under the test.

Also, these banks should have a Common Equity Tier 1 that is at least 6.0 percent of their qualifying capital after the test.

Similarly, stand alone TBs need to have a Tier 1 ratio that accounts to 6.0 percent of their qualifying capital.

Failure of the banks to meet the requirements and explain this would result to the slapping of correction actions.

If the central bank is n ot s at i s f i e d w it h t h e explanation, it will send to the financial institution a notice to submit within 30 calendar days an action plan that will enable it to meet the regulatory requirements.

(PNA)

MONEY lent to households grew by more than a fourth in the first quarter compared to last year as consumers continued to borrow from banks to buy houses and cars, the Bangko Sentral ng Pilipinas (BSP) said.

Consumer loans of u n ive rs a l, c om me rc i a l, and thrift banks reached P932.8 billion in the first three months of the year, up 3.36% from the last three months of 2014, the BSP said in a statement.

Year on year, consumer loans grew by 27% from the P735.1 billion recorded at end-March 2014.

The growth in consumer loans extended by universal, commercial and thrift lenders sustained the quarter-onquarter growth which began

in 2008, the BSP added.

“Consumer lending during the first quarter was lifted by an increase in residential real estate loans and continued growth in auto loans,” the BSP said.

Residential real estate loans reached P411.4 billion at end-March, up 26% from P326.92 billion last year and 3% higher from the previous quarter. Loans to buy motor vehicles also grew 26% to P244.61 billion from P194.4 billion year on year and up 6% quarter on quarter.

Consumer loans also include credit card receivables, which grew 4% from the year previous to P159.84 billion; salary loans which stood at P76.12 billion at end-March; and other consumer loans loans/PAGE 11

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Online... from page 1

meaning job activity has also been heavily affected,” said Sanjay Modi, managing director of Monster.com for India, Middle East, Southeast Asia and Hong Kong.

The education sector, which has been contracting since March 2015, continued its decline at 6% YOY in July. Information technology, telecom and Internet service providers saw a 7% decrease.

“This slowdown in e-recruitment activity is highlighted by the fact that only one industry group and one occupation group out of all monitored by the MEI registered any positive growth between July 2014 and July 2015,” Monster. com said.

Finance and accounts decreased by 12%; and software, hardware, and telecom fell by 18%.

Monster.com data showed that only the business-process outsourcing/informationtechnology enabled service (BPO/ITES) sector showed an increase in online hiring activities year-on-year at 9 percent in July 2015, which represented a one percentage point growth from June 2015.

“The BPO/ITES sector in the Philippines continues to attract more talent, as new call centers continue to open up across the country. The education sector is also seeing a slow increase in activity, as the government attempts to improve its health care and education system, with plans to hire more public-school teachers and health workers in the next couple of years,” Modi said.

In terms of occupation, the only job to register positive growth is customer service, which registered an 18% YOY hike, an eightpercentage points increase from June 2015.

Modi, however, said that “while overall online hiring activities in the region are looking bleak, the figures could pick up in the coming months, particularly among Finance & Accounts roles.”

“Even with the introduction of new banking technologies which serve to facilitate operations within the industry, there will still be a demand for various roles to fill existing workplace gaps,” he added.

The MEI Philippines is a monthly gauge of online-job posting activity, based on a realtime review of millions of employer job opportunities culled from a large representative selection of career web sites and online-job listings across the Philippines.

The index does not reflect the trend of any one advertiser or source, but is an aggregate measure of the change in job listings across the industry.

Launched in May 2015, with data collected since January 2011, the MEI is a broad and comprehensive monthly analysis of online-job posting activity in the Philippines, conducted by Monster India.

The MEI was first released in the Philippines in April 2015.

Pay...

from page 1

Rural Bank is posted at its offices and in the PDIC website, www. pdic.gov.ph.

When filing claims for deposit insurance, depositors are advised to personally present the original copy of evidence of deposit such as Savings Passbook and Certificate of Time Deposit, and two (2) valid photo-bearing IDs with signature of the depositor. Depositors who were not able to come personally may file their claims through mail and enclose the same set of documentary requirements with a notarized Claim Form.

Depositors who are below 18 years old should be represented by a parent who should submit a photocopy of the child’s Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar as an additional requirement. The parent should sign the Claim Form and the other requirements. Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney (SPA). In the case of a minor depositor, the SPA must be executed by the parent.

The procedures and requirements for filing of deposit insurance claims are posted in the PDIC website, www.pdic. gov.ph. The Claim Form and format of the SPA may also be downloaded from the PDIC website. PDIC will not accept claims which are incomplete or lacking in requirements.

Depositors who are not able to file their claims during the claims settlement operations period may submit their claims either through mail to PDIC or personally at the PDIC Public Assistance Center, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City starting on September 21, 2015.

PDIC reiterates that it will not accept claims with incomplete requirements. The deposit insurer may also require other documents in the course of processing of claims.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Xavier-Punla Rural Bank is on August 24, 2017. After this date, PDIC as Deposit Insurer shall no longer accept any deposit insurance claims.

The PDIC said that all valid claims will be paid. For deposits to be considered valid, it must be recorded in the bank’s records and must have evidence of inflow of funds, based on the results of PDIC examination. PDIC, as Receiver, has the authority to adjust the interest rate on unpaid interests on deposits of a bank if such rate is deemed unreasonable.

For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342). (PNA)

IRR...

from page 1

applicable in the region.

Following the publication of the implementing rules and regulations (IRR) of Wage Order No. RX-18 in a local newspaper last August 19,

the region’s tripartite board issued an advisory that the new minimum wage of P318 is now in effect for private workers in northern Mindanao.

This is P12 more than the existing P306 minimum wage which took effect in May 2013.

Based on the published guidelines, the new P318/day minimum wage takes effect in the cities of Cagayan de Oro and Iligan and the adjacent municipalities of Tagoloan and Villanueva.

Also, under Wage Category II of the same order, a P313/ day minimum salary is enforced in the cities of El Salvador, Gingoog, Malaybalay, Ozamiz and Valencia and the municipalities of Maramag, Manolo Fortich and Quezon in Bukidnon.

For Wage Category III, the minimum wage of P308/day is effective for non-agricultural workers and P296/day for agricultural workers in the cities of Oroquieta and Tangub and the municipalities of Lugait and Opol in Misamis Oriental; and Mambajao in Camiguin.

Workers in the rest of the region will receive P303 for non-agricultural sector and P291 for the agricultural sector.

The new wage order was an offshoot of the series of consultations following the petition filed by the labor sector for a new minimum increase.

The increase, however, was a far cry to the P89 per day sought by the Associated Labor Union-Trade Union Congress of the Philippines (ALU-TUCP) for the region.

In filing their petition, the ALU-TUCP said increase, small as it is, has been overtaken by increases in power and water rates, in health and education costs, the prices of oil and its products, LPG, and basic goods and services.

Energy... from page 2

teacher Stella Subaron of Sto. Niño, South Cotabato said in a phone interview.

“That is the reality we are facing. Electricity becomes expensive when diesel fed generators are used. It’s better this way than nothing at all,” she said in Filipino.

Tudio advised consumers to start power conservation now to at least cushion the impact of the dry spell.

“True enough, we have roles to play in energy conservation in our own homes. Putting these roles together mean huge energy conservation,” Subaron said.

El Niño is expected to be felt this month and to level up in October to December and will slow down in early 2016, the state weather bureau has said. (PNA)

Revision... from page 6

generation mix by 2030, doubling greenhouse gas emissions between 2014 and 2025, ” he said.

Philippine coal-fired power capacity has increased by 25 percent in the last three years, and some 25 new coal plants with a gross capacity of 12,200 megawatts are in the pipeline, Alvarez said.

At the same time, Alvarez, a former senator and environment secretary, called for a drastic re-orientation of Philippine power policymakers to bring them into the mainstream of the global trend toward cleaner alternative energy sources.

Philippine energy policymakers must start a shift now to a low-carbon future by introducing the right policies and long-term framework, including an effective price on carbon and a re-definition of “least-cost generating system.”

Traditionally, Alvarez said, coal-fired plants were seen as the least-cost generating system since policymakers failed to take into account its externalities -- the social and economic costs of its environmental destruction, of the pollution that undermines public health, and the incalculable damages to agriculture and ecosystems.

When these externalities are factored in the price of carbon, coal would be far costlier than renewable energy sources, he said.

Citing a U.S. study, Alvarez said health costs from mortality and morbidity impacts due to coal emissions will rise to an estimated US$18 billion by 2030.

“The INDC process - in which countries determine their contributions in the context of their national priorities, circumstances and capabilities - is key to the global framework that drives collective action toward a low-carbon, climateresilient future,” he emphasized.

UN member nations have agreed to publicly outline what post-2020 climate actions they intend to take under a new international agreement that will determine whether the UN can curb global warming by stopping global temperature from rising more than 2 degrees Celsius above pre-industrial levels.

Alvarez noted that by 2030, the country’s energy sale is projected to increase from 55,417 GWh in 2008 to 149,067 GWh by 2030. For the period 2009-2030, around 17 GW of new capacities are needed to meet the demand and reserve requirements for electrical power. Of these, 1,338 MW will come from committed power projects.

To date, private sector initiated and committed power projects total some 1,338 MW which will be generated mostly by coal-fired plants in Luzon and the Visayas.

The good news lies in Mindanao, according to Alvarez.

“Mindanao will be a brilliant exception since some 100.5 MW total committed projects are all renewables.” (Climate Change Commission)

Winners...

Tabid NHS, 3rd place.

Essay-Writing Contest – Lady Diamond F. Biernes, Tabid NHS, 1st place, Essell Grace M. Gomez, Ozamiz City NHS, 2nd place and Kaye Danielle Teresa V. Soronda, LSU-IS, 3rd place.

Poster-Making Contest – Jeefy Lloyd C. Zumel, Pulot NHS, 1st place, Felven M. Monteverde, Tabid NHS, 2nd place, and Renato N. Jumawan, Jr., Labo NHS, 3rd place.

Cash prizes of P4,000, P3,000 and P2,000, were given to the 1st, 2nd and 3rd place winners, respectively, plus a plaque of recognition, each, while the non-winners received consolation prizes of P500, each. (RCA/PIA10-Misamis Occidental)

Mitsubishi... from page 5

“involves different classes of shares so it’s difficult to specify.”

AC Energy -- through Northwind Power Development Corp. -- also owns and operates the country’s first wind farm -- the 33-MW Bangui project in Ilocos Norte. The project has since been expanded by 19 MW. The Ayala-led power firm allotted an equity investment of around $500 million to develop various power generating projects.

Its portfolio will soon include a 270-MW coal plant in Calaca, Batangas -- a project done in partnership with Phinma Group’s Trans-Asia Oil and Energy Development Corp.

The first 135-MW unit of the project already started commercial operations earlier this year, while the second is expected to go on stream within this year.

11

2014 ppi’S Best in ENVIRONMENTAL Reporting

Besides those projects, AC Energy also has a minority interest in GNPower Mariveles Coal Plant Ltd., the owner of the existing 600-MW Mariveles coal plant in Bataan.

The project owner has plans to undertake a 1,200MW expansion of the existing facility by 2018.

AC Energy and GNPower are also building another coal plant, involving a 552-MW facility in Kauswagan, Lanao del Norte.

Besides power, Ayala has interests in other key industries like real estate (Ayala Land, Inc.), banking (Bank of the Philippine Islands); water distribution (Manila Water Company, Inc.); and telecommunications (Globe Telecom, Inc.).

Loans... from page 9

which declined by a third year on year to P40.77 billion.

“While consumer lending expanded, universal, commercial and thrift banks kept the level of their non-performing consumer loans manageable,” BSP said.

Bad loans were just 4.9% of banks’ total consumer credit portfolio, the BSP said.

“The banks likewise set aside provisions for 62.2% of their non-performing consumer loans as a cushion for potential credit losses,” the central bank added.

Despite the growth in loans, local banks’ consumer credit exposure remained low at 16.7% of their total portfolio, lower than Malaysia’s 53.8%, Indonesia’s 28.6%, Thailand’s 27.7% and Singapore’s 25.8%.

The BSP monitors the quality of all types of bank loans to ensure high credit system for a stable and sound financial system.

Republic of the Philippines) City of Cagayan de Oro ) S.S. AFFIDAVIT OF LOSS I, LUIS M. IMPROGO, of legal age, Filipino, a resident of Gusa, Cagayan de Oro City, after having been sworn to an oath in accordance with law, hereby depose and state: 1. That I am a purchaser of four (4)memorial plots situated at Block 112, Section 7 at Greenhills Memorial Park in Bulua, Cagayan de Oro City; 2. That I have fully paid the purchase price for the four (4) plots and was duly issued a Certificate of Ownership in the name IMPROGO, AMALIA/LUIS; 3. That due the lapse of time, the Certificate of Ownership was misplaced and could no longer be located in spite of diligent efforts exerted to find it; 4. That the Certificate of Ownership is now lost and irretrievable; 5. That I execute this affidavit to attest to the loss of the Certificate of Ownership of the four (4) memorial plots as described in paragraph 1 hereof and to secure a substitute document to prove ownership thereof.

IN WITNESS WHEREOF, I have hereunto set my hand this 7th day of April, 2015 at Cagayan de Oro City, Philippines.

from page 6

superintendent, Department of Education, Division of Ozamiz City, said.

Meanwhile, the following students were declared winners in the contests: Oratorical Contest – Chesca Mae C. Elmedolan, La Salle University-Integrated School (LSU-IS), 1st place, Shaena Mae G. Segovia, Ozamiz City National High School (OCNHS), 2nd place and Lyka C. Lapiz,

SUBSCRIBED AND SWORN to before me this 7th day of April, 2015 at Cagayan de Oro City, affiant exhibited to me his valid Driver’s License no. K03-64-008690 with his photograph as competent evidence of his identity.

Doc. No. 149 Page No. 30 Book No. 44 Series of 2015 BWM: Aug 23, 30 & Sept 6, 2015

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