Volume II, No. 153
web portal: www.businessweekmindanao.com
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Dec. 14-15, 2013
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Mindanao Star The Purveyor of Truth, Justice and Development
Salcedo asks public to patronize products of Sendong IDPs
BHW/BNS JOINT CONVENTION Calling them as ‘modern day heroes’ as frontliners in the delivery of basic health and nutrition services in the diifferent barangays of Cagayan de Oro, City Mayor Oscar S. Moreno urges participants in the Joint Annual Convention 2013 of the Cagayan de Oro Federation of Barangay Health Workers, Inc. and Barangay Nutrition Scholars, Dec. 12 at the Grand Caprice Limketkai, to raise the level of their performance through teamwork and unity with their respective barangay leaders. 1st District City Councilor Zaldy Ocon, health consultant Dr. Ignacio Moreno and city health officer Dr. Fe C. Bongcas joined with the mayor.
AS the city government commemorates the 2nd anniversary of typhoon Sendong next week, Councilor Enrico Salcedo, chair of the City Council committee on social services appeals to the public to support and patronize the livelihood products of the Internally Displaced People (IDPS) or the Sendong survivors. The livelihood products of Sendong Relocation communities will be displayed at the City Hall grounds starting December 16 and will run until December 20, from 7:00 o’clock in the morning until 6:00 o’clock in the evening. The Power learned that among the products to be sold are Christmas decorations and accessories (handicrafts), processed foods, cakes and pastries,
native foods, pillow cases, blankets, bags and RTWs. Councilor Salcedo thanked the Community Improvement Division and City Social Welfare and Development Department for successfully facilitating the skills training and for continuously supervising the various livelihood projects of the IDPs. The sources of funds include among others the DSWD, Oro Integrated Cooperative, Land Bank of the Philippines, Habitat for Humanity and from the CSWD. Aside from the products to be displayed at City Hall, at least 12 IDPs are operating trisikads and Peso nets at Indahag Relocation Site as source of their livelihood, a CSWD staff told the Power.
Bill mandates contractors to use PH made materials cio
salcedo, page 7
By Lorelei V. Castillo, Media Relations Service-PRIB
rufus RODRIGUEz
maxi RODRIGUEz
TWO lawmakers have filed a bill mandating all contractors to use Philippine made materials for the construction, alteration or repair of any public works. Rep. Rufus Rodriguez (2nd District, Cagayan de Oro City) and his brother Rep. Maximo Rodriguez, Jr. (Party-list, Abante Mindanao) authored House Bill 3285 to promote and encourage the use of Philippine made products, materials and supplies in every
contract for construction. Rodriguez cited the policy of the State as embodied in Article XII, Section 12 of the Constitution to promote the preferential use of Filipino labor, domestic materials and locally produced goods, and adopt measures that help make them competitive. The me asure to b e known as the “Preference for Philippine Materials in Public Contracts Act,” bill, page 7
CDO to benefit from FLI’s credit upgrade By NELSON V. CONSTANTINO Editor-in-Chief,BWM
CAGAYAN de Oro’s booming real estate industry is expected to be among the local economies poised to gain further with Filinvest Land Inc. (FLI)’s recent investment upgrade from a credible rating firm. In a press statement, Filinvest said its “PRS Aaa”
credit rating from Philippine Ratings Services (PhilRatings) could further boost its P7billion bond float. The company said Phi lR at ings issue d t he highest credit rating to its proposed P5 billion fixed-rate retail bond offering, with an oversubscription option of P2 billion. The credit rating further
affirms Filinvest’s stability as a company. Filinvest, owned by the Gotianun family, has been into real estate for more than 50 years and this expertise had been brought to Cagayan de Oro to fulfill the Filipino dream to own a home. Filinvest Land, Inc. (FLI) reported that its net income in the first nine months of 2013
rose by 22% year-on-year to Php2.438 billion from the Php2.006 billion registered in the nine months of 2012. Growth in Real Estate Sales and Rental Income primarily drove the rise in total revenues to P8.470 billion, a 26% increase versus the same period last year. FLI’s Real Estate Sales cdo, page 7
LUCKY CHILD. Rep. Juliette Uy of the second district of Misamis Oriental and her husband, Villanueva town Mayor Julio T. Uy, crown Ashley Justine Kay Pagaling after winning the crown of the just-held search for Little Miss Villanueva 2013. The contest serves as one of the highlights of the town fiesta of Villanueva in honor of its patron saint, Our Lady of Guadalupe. Photo courtesy of Dodo Canoy