BusinessWeek Mindanao (September 28-29, 2013)

Volume IV, No. 15

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Market Indicators As of 6:12 pm Sep. 27, 2013 (Friday)

FOREX

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US$1 = P43.34

6,379.81 points

9 cents

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27.65 points

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Briefly Zambo port ZAMBOANGA City -- Stringent security measures will be implemented to ensure the safety of sea travellers as the local port partially opened Friday paving the way for the resumption of trips for passenger vessels to and from this city.

Zamboanga Coast Guard Station commander Lieutenant Junior Grade (Lt.JG) Joemark Angue said initially there were four trips from this city to the Basilan, Sulu and Tawi-Tawi (BaSulTa) areas.

Angue said the trips are as follows: Zamboanga City-Basilan via Isabela City and vice-versa, two trips daily; Zamboanga City-Jolo, Sulu and vice-versa, 1 trip daily; and, Zamboanga City-Bongao, Tawi-Tawi and vice-versa, 1 trip daily.

Angue said the stringent security measures include “three-layer” inspections for in-bound passenger vessel.

Science exhibit DAVAO City– Are you having problems on how to make your students, children, and kids love science?

The Mindanao Science and Technology Centrum Foundation, Inc. is bringing to the region the traveling exhibit, dubbed as the “Science Sparks!” on November 5-20, 2013 at the Science Centrum in Bago Oshiro, Tugbok, Davao City.

The exhibit event is in collaboration with the Department of Science and Technol ogy (DOST) an d the Philippine Foundation for Science and Technology (PFST).

Science Sparks! is a traveling exhibition of the exciting and fascinating science centrum. It is the first interactive science center-museum in the country.

Normin’s palay production up by 4%

By APIPA BAGUMBARAN, Contributor

THE production of palay in region 10 grew by 4.41 percent in the second quarter of 2013, reaching 141,508 metric tons (MT) compared to the 135,536 MT produced in the same period in 2012.

Of the five provinces in

the region, only Misamis Occidental registered a 5.61 decrease in production from 21,302 MT to 20,106 MT. Mi s am i s O c c i d e nt a l exp er ience d a drop in production due to the ongoing rehabilitation of

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irrigation canals particularly in Baliangao area, said Engr. Cecilio Clarete, Chief Economic Development Specialist of the Development Research Division of National Economic Development Authority (NEDA). palay/PAGE 11

Power spot market to ease supply gap

By LOVELY MAE CASENAS Staff Member

USAID project to hasten MSME access to loans

T

HE star t of the Interim Mindanao Electricity Market (IMEM) is expected to pave the way for additional capacity to the Mindanao grid to ease up the power supply shortfall on the island.

During its formal launch Thursday, Energy Secretary Carlos Jericho L. Petilla said IMEM is also seen as a pilot test for Mindanao’s eventual transition to the Wholesale Electricity Spot Market (WESM) in Mindanao, once adequate power generation is established for the islandregion.

It is expected to pool about 200 megawatts of excess power generated by power producers in the Mindanao grid, he said.

Petilla said with the presence of the Mindanao spot market, power would no longer be a problem for the province in the near term. power/PAGE 11

By DANIELLE VENZ Contributor

LOADING. A barge docks beside a large Chinese cargo ship to unload mineral-rich soil off the coast of Hinatuan Island, one of the islands in the town of Tagana-an in Surigao del Norte. mindanews photo by erwin mascarinas

Malaybalay’s proposed new land use plan draws mixed reactions

By WALTER I. BALANE, MindaNews

MALAYBALAY City -- Mixed reactions greeted the proposed revisions to this city’s 20122022 Comprehensive Land Use Plan (CLUP).

T h e C i t y C o u n c i l’s C om m itte e on Hu man Settlement, Zoning and Land Use conducted the public hearing for the proposed

Mindanao Daily NEWS

revisions to the 10-year plan Thursday, in coordination with the City Planning and Development Office (CPDO).

Roberto Tinsay, vice president of the Bukidnon land/PAGE 11

SMALL and medium enterprises (SMEs) planning to expand their businesses can look forward to a new assistance to facilitate their credit access.

The United States Agency for International Development (USAID) with the Philippine government recently launched a new Advancing Philippine Competitiveness (COMPETE) project that includes a component to help increase SME access to loans.

Dr. Mario Lamberte, component 3 team leader of COMPETE project, said beneficiaries are companies engaged in construction, e n e r g y, h e a l t h c a r e , manufacturing, post-harvest agricultural processing and agribusiness, and tourism sectors.

Lamberte said financial institutions now are highly liquid but credit is not USAID/PAGE 11

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Economy

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RDC-9 foresees economic growth’s decline due to Zambo standoff ZAMBOANGA CITY -The Regional Development Council-9 (RDC-9) foresees a decline in the economic growth of the region as an aftermath of the standoff here that

entered the 19th day on Friday.

The standoff started last September 9 when hundreds of Moro National Liberation Front (MNLF) rebels infiltrated this city

and sp orad i c f i g ht i ng continues since then.

Norman Jose Ramirez, RDC-9 acting secretary, said the city of Zamboanga “contributes much to the re g i on a l d e ve l opm e nt output of the region” being a highly urbanized city.

“This standoff will cause an effect to the growth not only of Zamboanga City but the region as a whole,” Ramirez said.

The National Statistical Coordination B oard (NSCB) earlier announced t h a t t h e e c o n o my o f Z amb o anga Pen i nsu l a re g i s t e re d t h e f a s t e s t growth in 2012 among

the country’s 17 regions as its economy soared high to 12.4 percent last year from 0.1 percent in 2011.

The impressive economic performance of Zamboanga Peninsula was brought about by the accelerated growths of the industry and service sectors.

The RDC-9 noted that the early days of the st andof f had vir tua lly paralyzed business, works and classes in this city.

“For sure we would expect a decline in the growth of our economy,” Ramirez said. (PNA)

MANILA -- Conglomerate Aboitiz Equity Ventures Inc. (AEV) will offer P10 billion in retail bonds to the public, proceeds of which will be used to finance its planned investments.

In a disclosure, AEV said its Board on Friday authorized the issuance of retail bonds with tenors of seven to 10 years.

“The bonds, which are expected to be offered to the general public in the fourth quarter of 2013, will be registered under

the Securities Regulation Code,” it said.

First Metro Investment Corp. is the issue manager for the issuance of the bonds.

AEV said it will utilize the proceeds of the bonds issuance to fund its planned investments and for other general corporate purposes.

T h e c omp a ny p l a n s P 5 9 b i l l i o n i n c ap i t a l expenditures this year.

AEV is primarily engaged in power distribution and generation. (PNA)

Aboitiz Equity to offer P10B retail bonds

Nokia’s decline hits Finnish economy HELSINKI -- A leading Finnish research institute l o w e r e d t h e n a t i o n’s economic growth forecast on Wednesday, and attributed it to the decline of Nokia, w h i ch s ol d it’s m o bi l e businesses to Microsoft earlier this month.

The new forecast, made by the Research Institute of Finnish Economy (ETLA), is 0.3 -0.4 percent for this year, and 1.6-1.8 percent next year, lower than the previous prediction made in March.

According to Markku Kotilainen, research director of ETLA, the latest development of Nokia is a principal reason for the revision.

He described the decline of the once mobile giant as “an ugly dent” in the Finnish economy.

With Nokia’s rise during 1 9 9 0 s , F i n l and r api d ly recovered from deep recession and become one

of the foremost knowledge economies in the world, said a report published by ETLA in March.

During Nokia’s prime from 1998 to 2007, the company contributed a quarter of the growth of the Finnish economy.

Over the same period, it created nearly one fifth of Finland’s exports and paid as much as 23 percent of all Finnish corporation tax revenue.

However, its descent since 2008 has devastated Finland’s economy.

Nearly one third of the over 8 percent drop in the Finnish GDP in 2009 was attributable to Nokia, and up to now the company’s share of contribution in Finland’s GDP has fallen to virtually zero, said the report.

Besides Nokia’s decline, other reasons for the downward revised economic nokia/PAGE 9

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CorporateWorld

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Congressman Rufus B. Rodriguez expresses his support for the ongoing peace talks between the Government of the Republic of the Philippines and the MILF during a recent briefing conducted by the Office of the Presidential Adviser on the Peace Process headed by Secretary Teresita Quintos-Deles. Rep. Rodriguez values the importance of peace in the Mindanao region and sees how it can improve the lives of the people of Mindanao.

Aboitiz Equity Ventures, Inc. (AEV) and all its three publicly listed subsidiaries, Aboitiz Power Corp. (AboitizPower), Aboitiz Transport System Corp. (ATS) and Union Bank of the Philippines (UnionBank), all landed in the top 30 out of 214 companies ranked by the Institute of Corporate Directors (ICD) for its 2009 Corporate Governance Scorecard for listed companies.

Aboitiz Group to borrow P10-B from bond market ABOITIZ Equity Ventures Inc. (AEV) is raising funds through a retail bond offering in the fourth quarter.

In a disclosure to the Philippine Stock Exchange, the holding firm of the Aboitiz family said its board cleared the issuance of P10 billion worth of bonds or IOUs that will mature in

seven and 10 years.

First Metro Investment C orp will be the issue manager of the debt sale.

“The proceeds of the bonds issuance will be used

by AEV to finance its planned investments and for other general corporate purposes,” the listed firm said.

AEV has businesses in

power, banking, food and real estate.

The Aboitiz group is also venturing into infrastructure as it eyes water, airport and projects under the government’s Public-Private Partnership program. It has teamed up with Ayala Corp in bidding for the MactanCebu International Airport.

Toyota recalls Sienna minivans in N. America DETROIT - Toyota Motor Corp’s US unit said on Thursday it is recalling about 694,000 Sienna minivans in North America due to a shift lever problem.

Toyota USA said that because of possible damage to the shift lock solenoid installed in vehicles involved in the recall, the minivans could shift out of “park” and roll away without the driver depressing the brake pedal.

The vehicles were made at Toyota’s plant in Indiana. The Siennas are from model years 2007 to 2009 and from 2004 to 2005.

Most of the recalled vehicles, about 615,000, are in the United States. About 56,000 of the recalled minivans are registered in

Canada, 23,000 in Mexico, 300 in Germany and 10 in Guatemala.

Toyota spokeswoman Cindy Knight said Toyota has received reports of 21 “minor” accidents in the United States and three minor accidents in Canada. Two of the incidents involved what Toyota called minor injuries, such as bruises.

Sienna is the second-best-selling minivan in the US market, behind the Dodge Caravan made by Chrysler, an affiliate of Fiat SpA. Sienna’s sales through August were up 5 percent from a year earlier at 86,459 and Caravan’s sales were down 15 percent at 94,639, according to Autodata Corp.

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Arts&Culture

A family rushes a baby to the operating room.

Photo by Michele Van G. Dalida

Worried, a mother goes to the nurse station for help.

Photo by Ariana Cristelle L. Pagdanganan

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A man falls asleep while taking care of his sick child.

Photo by Jaymaica P. Maraguinot

Balay Tambalanan is a photo essay of the dilapidated J.R. Borja Memorial Hospital in Cagayan de Oro. Neglected by past administrations, the hospital caters to the poorest of the poor in Cagayan de Oro with their old medical equipment

J.R.Borja Memorial Hospital was constructed on August 25, 1963 using city funds on a 5 hectare site. Photo by Michele Van G. Dalida

Medical patients stay together at a ward.

Photo by Ariana Cristelle L. Pagdanganan

Exit marks a patient’s way out of the hospital.

Photo by Jaymaica P. Maraguinot

An old man waits for his turn along a throng of ailing people.

Photo by Steffi Nicole N. Zapanta

A mother takes her child out from the crowded room.

Photo by Kent A. Ugalde

A patient stares blankly into space as the people walk past him .

Photo by Eileen May M. Guibone

Mothers wait patiently for their turn to have their baby checked up.

Photo by Kent A. Ugalde

A mother cradles her baby along a deserted corridor.

Photo by Steffi Nicole N. Zapanta

A baby sleeps despite his medical condition.

Photo by Eileen May M. Guibone

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Opinion

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The Truth Hurst

T

THINK

hink a minute…Henri Latour was the greatest detective in A Minute France during the 19th century.

By Jhan Tiafau Hurst He was a mastermind at finding evidence and clues, then fitting it all together to find the criminal and bring him to justice.

But mysteriously, this living legend’s career suddenly ended.

Detective Henri Latour was called to the scene of a horrible, violent crime.

An old couple had been robbed and brutally murdered.

The police had already arrested a suspect.

But shortly after studying the crime scene and evidence, Latour’s instincts convinced him that the police had arrested the wrong man. He promised the police and the family that he would find the missing pieces of the puzzle and the murderer.

So began what many have called the most brilliant tracking of a criminal in the history of France.

Henri Latour carefully gathered all the different pieces of evidence, one piece at a time, until he finally found his man and criminal.

The newspapers praised Latour’s brilliant detective work and spread the news of his fame all over France. Then suddenly, after solving that case, Latour retired and moved away. In fact, he lived alone for the remaining 25 years of his life.

You see, it was only after he died that the true identity of the last criminal Latour tracked down was made known to the public.

In his last case, Latour had refused to back down from the truth, even when his investigation revealed and proved that the murderer was none other than Latour’s own son.

Sometimes the truth can be very painful. But sooner or later we each have to face it: we’ve done some things wrong in our life. And until we admit this fact to our Maker, we’ll never be free from our guilt.

It’s then we realize that the price we pay of hurting our pride is nothing compared to losing our relationship with our Maker. And the only thing we have to do is ask Jesus Christ for His forgiveness and new life. Then with Him in charge, we can start changing and living His way, which is the only way we’ll ever have peace of mind and be free. Just Think a Minute!

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A Tribute to Sir and Ma’am

I

t’s always a joy to meet young people who aspire to become teachers. One of the oldest professions in the world, teaching has always been a well-admired vocation.

After all, the doctors, lawyers, and scientists of the world would not be where they are today without the knowledge and guidance of their instructors and professors.

However, while teaching remains a noble occupation in people’s eyes, it also has been overshadowed by more glamorous and high-paying jobs. Many people actually dream of teaching but would not, thinking that the work will not be sufficient to raise a family or sustain a lifestyle.

Recently, the Department of Education (DepEd) and the Metrobank Foundation, Inc. honored ten educators, who were chosen from among hundreds of nominees nationwide as winners of this year’s Search for Outstanding Teachers.

They represent the many Filipinos who still pursue the calling, and who are willing to stick it out, sacrifice, and excel as members of the academe. They are the people who remind us that while teaching can be the most difficult job, it can also be most fulfilling.

From the Elementary Competition, meet Fely A. Batiloy of the Special Education Integrated School for Exceptional Children in Iloilo City. A music scholar and a cultural researcher-educator, Ms. Batiloy has produced music albums and a book on less known Visayan and Ilonggo songs that are being used as reference in the Mother Tongue-Based Curriculum of DepEd’s K12.

Dr. Mitchel V. Rodriguez of Odiongan Central School in Gingoog City, meanwhile, has come up with two books on Philippine folktales that are used in their school. She is also credited for developing a school reading program called ReVoE (Reading and Vocabulary Enhancement).

Like Dr. Rodriguez, Cherry G. Vinluan of Guagua Elementary School in Pampanga also focused on developing the students’ passion for reading. Aside from putting up a reading center in her school, she also conducted research on improving reading comprehension and came up with instructional materials based on her findings.

Rodel C. Sampang of Pedro Guevarra Elementary School in the City of Manila, on the other hand, served as curriculum writer and national trainer for Social Studies. He was also involved in developing DepEd’s K to 12 Basic Education Curriculum (BEC), and is active in various trainings for his fellow teachers.

One of the awardees in the Secondary Competition is Dominique J. Maquiran of the University of the Philippines High School in Iloilo. Mr. Maquiran, who has organized close to a hundred community outreach programs, has produced Social Studies materials based on his own researches that are being used by different schools in his region.

SPEAKING

Like him, co-winner Dr. Maria Teresa M. Bautista O ut of Bacnotan National High

By Ignacio Bunye School in La Union is also i nv o l v e i n c o m mu n i t y based efforts, particularly in providing scholarships to the youth. Dr. Bautista, also a reading advocate, has helped produce champions in oratorical competitions and journalistic writing contests.

Marc e l o T. O t i n g u e y of Ampusongan National High School in B enguet, meanwhile, is a champion of Values Education and the preservation of culture and ethnic traditions. He has helped his colleagues as a demonstration teacher and resource speaker, while inspiring students through forming a cultural dance troupe and conducting seminars on cultural arts for them.

They are joined by Maria Lorna L. Garnace of Philippine Science High School, Eastern Visayas Campus in Leyte.

Apart from conducting research and submitting papers, Ms. Garnace is known for her innovative teaching tools and strategies that make learning fun and exciting for her students.

Finally, from the Higher Education Competition, we have Dr. Alfredo C. Robles, Jr. of the De La Salle University in the City of Manila and Dr. Emilyn Q. Espiritu of the Ateneo de Manila University in Quezon City.

Dr. Robles, who has published books and taught abroad, is behind the very first graduate program in the Philippines that combines International Relations and European Studies. He has passed on his knowledge to younger teachers, as well as diplomats, development workers, and government employees.

Dr. Espiritu, meanwhile, continues to juggle teaching and field work to be able to “walk the talk.” While conducting researches on environmental management, toxicology and solid waste management, she also serves as consultant for organizations such as the World Bank and the Department of Environment and Natural Resources.

All ten winners received gold medallions and cash as reward for their outstanding performance. However, we all know that there is something more precious that we can give them, and that is a simple “Thank you Sir or Thank you Ma’am.”

It’s never too late to express our gratitude to our teachers, some who have even become are second parents, mentors, and friends. A perfect time to say thanks is today until October 5, which marks the end of the National bunye/PAGE 9

The Family and the New Evangelization

A

s we enter into the conclusion of the Year of Faith, it’s good to bring out to the fore again the primordial duty of the family, especially the parents, to help inculcate and spread the faith to the children and other people.

We all know how basic and indispensable the family is in the education and formation of children. We don’t call the family the “domestic Church” and the “first school” for nothing.

Before anything else, it’s the family where the first frontline in the battle for educating the children takes place. It’s really important for the parents to realize this duty deeply and to acquire the necessary skills relevant to the task.

As parents, they don’t only bring children to life.

They also need to bring them up, making them authentic persons who know how to think and love, and how to behave not only as dutiful children and citizens of society, but also and most especially as children of God. That’s why parents are the first teachers to their children.

They are most responsible in laying the foundations of the children’s formation. Hopefully the foundations will be a living one capable of growth and development toward true human and Christian perfection.

We have to understand that while we are now talking a lot about new evangelization, we should realize that before we think in terms of evangelizing the world, we first have to think of how to effectively evangelize the family.

Any effort to evangelize the world would have no leg to stand on if we ignore the basic duty to evangelize the family. And the family has to be evangelized first before it can be an evangelizer, an active and effective agent in the transmission of the faith.

That’s why parents have to realize that they are always in need of continuing formation themselves. Formation actually never ends. It’s coterminous with life itself.

Parents therefore should hone this awareness of their duty for continuing formation, going beyond simply

HINTS

taking care of the material needs of the children. and Traces I n t h i s r e g a r d , i t ’s

By Fr. Roy Cimagala important that parents should continually give doctrine of our faith to their children, with gift of tongue, with proper timing and skill to adapt things to the mentality of the children. It should be done in such a way that the children get to enjoy such talks, conversations and dialogues.

They should be able to show to the children, more through their example than through words, how exciting an adventure it is to really deal with God through the mastery of the doctrine, the recourse to the sacraments, the development of virtues, the waging of the ascetical struggle, etc.

Children always look for fun, and we have to convince them that there is actually more fun and more adventure when we take God seriously, not only in our thoughts and feelings, but also in our actions.

We have to put this truth as visible as possible, going beyond intentions and in words. Parents should see to it that their reactions to their daily challenges are infused with true faith and trust in God. This is how the children will learn how to react to changing situations with faith and trust in God also, without neglecting the human means.

We have to alert the children of the difficulties to expect, the dangers and the possible failures as well, but always putting them in the right place in the economy of our faith where all these things have their respective roles to play. We have to reassure them that as long as we are with God, everything will always work out for Cimagala/PAGE 9

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The organizers together with Coaches Rio and Allan, Race Director Francis Velasquez and Circle Productions President Jeffrey Ang. The 37th National Milo Marathon will be held on September 29, 2013. photo courtesy of francis manaloto

CEB grows international OFW market by 22.4% in five years

T

he Philippines’ leading low-cost carrier, Cebu Pacific Air (PSE:CEB) posted a 22.4% compounded annual growth rate (CAGR) from 2008 to 2012, for its passengers to and from three international destinations with a large concentration of overseas Filipino workers (OFWs): Hong Kong, Singapore and Malaysia.

CEB launched twice daily Manila-Hong Kong f lights back in November 2001, with one-way fares less than PHP1,000. Hong Kong was CEB’s first international destination primarily because business and leisure travel demand could be spurred by its large OFW population.

With a CAGR of 13.4% for passengers from 2008 to 2012, Hong Kong remains a key international destination in CEB’s network. It offers the most routes between the Philippines (from Manila, Cebu, Iloilo and Clark) and Hong Kong, compared to other airlines.

From 2008 to 2012, CEB also achieved a compounded passenger growth of 30.9% to and from Singapore and 35.6% to and from Malaysia.

The airline launched Manila-Singapore f lights in August 2006, and has since then launched f lights from Clark, Cebu and Iloilo to Singapore. CEB’s f lights to Malaysia started in November 2006 with direct Manila-Kuala Lumpur f lights. The airline now also offers a direct thrice weekly Manila-Kota Kinabalu service.

“CEB continues to serve global Filipinos with the fastest f lights not just to Manila but to their hometowns. As of 2012, Hong Kong, Singapore and Malaysia are home to over 340,000 OFWs. It is an honor to f ly the Philippine f lag and take them where they need to be, on Cebu Pacific’s trademark lowest fares,” said CEB VP for Marketing and Distribution Candice Iyog.

CEB is also slated to launch direct f lights to its biggest international OFW destination to date, Dubai. Direct daily f lights between Manila and Dubai commences on October 7, 2013, with fares up to 35% lower than other airlines.

For bookings and inquiries, guests can go to www.cebupacificair. com, or call the reservation hotlines (02)7020-888 or (032)230-8888.

The latest seat sales can also be found on CEB’s official Twitter (@ cebupacificair) and Facebook pages.

CEB currently operates 10 Airbus A319, 27 Airbus A320, 2 Airbus A330 and 8 ATR-72 500 aircraft. Its f leet of 47 aircraft is one of the most modern aircraft f leets in the world. Between 2013 and 2021, Cebu Pacific will take delivery of 15 more Airbus A320, 30 Airbus A321neo, and 4 Airbus A330 aircraft.

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Tourism

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Water is essential to development of tourism CAGAYAN DE ORO CITY --Water played a critical role in making tourism anywhere and elsewhere successful, Department of Tourism (DOT)-Region 10 director Catalino Chan, said here on Wednesday.

Chan made the statement as the region celebrated this year’s World Tourism Day with a theme: “Tourism and water: protecting our common future.”

Chan cited the various tourism spots in Northern Mindanao which highlight t he water as t he main attraction and sources of pride.

A mong t hese were t he Maria Cristina Fa l ls in Iligan City, the main source of hydro-power energy in

most areas in Northern Mindanao, the internationally acclaimed white water rafting in Cagayan de Oro City, and the enchanted waters off Duka Bay in Misamis Oriental.

Cha n sa id t hat aside f rom contributing in t he tourism aspect, water is also essential to humankind as the source of life, food, and comfort.

He said that water is also critical for sustainable development, especially for environmental integrity and eradication of poverty and hunger, it is essential for the health and well-being of human beings, and is fundamental to achieve the Millennium Development

Goals (MDG).

Chan said that this year’s world tourism theme emphasized the importance of water and the need to protect it from possible extinction as global modernization threatens its natural beauty and source.

“We are facing a new generation where God’s natural gifts are endangered by modernization. Water is among those that is critically challenged,” Chan said.

He said it is the mandate of the people and the DOT to preserve and protect the essentials endowed by nature: “Water is in the forefront of this challenge as tourism moves toward the future.” (PNA)

Region 10 celebrates ‘Nat’l Tourism Week 2013’

S

By Carlston B. Maglangit

eptember, in Northern Mindanao, is a month of many celebrations and events. Cultural, religious, food and nature based festivals, plus weekly events are organized, like the National Chocolates Week, Pest Control Week, Civil Service Week and other important activities like these that make September one of the most celebrated months of the year. On top of these events is the annual Tourism Week, which is celebrated not only in the Philippines, but also internationally.

A celebrat ion in t he Tourism Industry always involves public, private and academe collaboration. The Depar tment of Tourism 10, in par tnership w it h SM City Cagayan de Oro, recent ly conduc ted t he Nationa l Tourism Week Celebration 2013 with the Theme: “Tourism and Water: Protecting our common future.”

At this time of the year, the Department of Tourism Philippines take part in t he com memorat ion of the World Tourism Day on September 27. This activity is participated by the regional offices, showcasing more fun destinations and events.

Different Tourism activities li ke tourism quiz bees, fashion shows, exhibits, street dancing and destination displays are organized for this annual event.

From S e ptemb er 2 0 to 2 4 , 2 013, Nor t her n Mindanao celebrated with the world and took part in the Tourism Week 2013.

In cooperation with the Accredited Establishment in the region, Student Travel Clubs and SM City - Cagayan de Oro generously hosted the venue. Daily programs were hosted by the Cagayan de Oro Student Travel Clubs coming from the different schools, universities and colleges.

Members from Lourdes C o l l e ge or g a n i z e d t h e second day, showcasing a wonderf u l cu ltura l a nd mu sic a l s how. O n t he t h i rd d ay, Liceo de Cagayan University gave tribute to t he creativ it y of t he tourism students

and the regal personalities f rom t heir depa r t ment.

Cagayan de Oro College Phinma Education Network highlighted t he ar tistr y a nd cra f tsma nship of the food carvers and the future bartenders of the college. On the Fifth day

a nd la st d ay, Vi ne y a rd International Polytechnic College demonstrated the talents, unity, quality and excel lence of a tou r ism community.

Displays and exhibits of the destinations, tou r ism produc ts a nd

accredited establishments took a n impor ta nt pa r t i n t he celebrat ion. T he destination booths opened a n informat ion hub for future tourists and visitors who w i l l explore t he different destinations in Region 10.

T he D e p a r t me nt of Tourism Region 10 would like to take this opportunity to extend its heartfelt gratitude to SM CITY Management, the participants, exhibitors and partners who made this event possible, especially to Cagayan de Oro City Tourism Office, Mapawa Nature Park, Duka Bay Resort, Kampo Juan, Dahilayan Forest Park,

Dahilayan Adventure Park, Mantangale Alibuag Dive Resort, Paras Beach Resort, Liceo de Cagayan University, L ou rde s C ol lege , CO C Phinma Education Network, Vi neya rd Inter nat iona l Poly tech nic C ol lege, Cagayan de Oro Hotel and Restaurant Association and Giya Amihanang Mindanao Tour Guides Association.

Nor t her n M i nd a nao once again celebrated the beauty and excellence of the tourism potentials with fun and unlimited destinations to visit, and as what Dir. Catalino E. Chan III always says, “Give us a time of your life and we will give you a slice of Paradise.” It’s More Fun in t he Philippines!

Mabuhay!

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september 28-29, 2013

Nokia... from page 2

forecast included the weak performance of exports, cautious consumption and climbing unemployment rate, as well as slow economic recovery in the eurozone, according to ETLA. As the global economy is experiencing an upturn, particularly in the eurozone, the Finnish economy will turn to grow by 1.6 percent in 2014 and 2.7 percent in 2015, said ETLA, emphasizing the necessity of continuous expansion of export market shares.(PNA/ Xinhua)

Bunye... from page 6

Teachers’ Month. October 5 is also the World Teachers’ Day. Note: My book, Central Banking for Ever y Juan and Maria is now available in main branches of Fully B o o ke d , Powe r B o ok s , National Book Store, and University of the Philippines Press.

Cimagala... from page 6

the good That’s why it is important that parents really spend time with their children, and get down to the task of knowing them to the extent that they become familiar with their children’s thoughts and feelings and desires, etc. They should k n o w t h e i r c h i l d r e n’s strengths and weaknesses to be able to help them effectively.

Parents should be adept in making and following a plan of formation for their children. This should not be taken for granted. This is a serious duty that has become more urgent considering the current conditions of the world.

That’s why parents should also look into how they can more or less professionalize their parenting, putting more science and art into it than just sheer reliance on the so-called what-comesnaturally attitude.

They can form a parents’ organization where the different issues involved in their duties are adequately discussed. I would say this is a concrete contribution to the new evangelization.

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF NOTICE OF EXTRA-JUDICIAL SALE File No. 2013-243

Upon extra-judicial petition for sale under Act No. 3135 as amended, filed

by HOME DEVELOPMENT MUTUAL FUND (PAG-IBIG), Cagayan de Oro City, as mortgagee, against ARLENE M. CUHIT, of legal age, single, Filipino citizen and with postal address at Block 3, lot 17 Exzekiel St., San Agustin Valley Homes, Carmen, Cagayan de Oro City as mortgagor, which as of July 29, 2013 amounts to THREE HUNDRED EIGHTY TWO THOUSAND TWO HUNDRED TWENTY FOUR PESOS & 07/100 (Php382,224.07) inclusive of interest, and penalty charges, but exclusive of attorney’s fees equivalent to ten (10%) percent of the total indebtedness plus the expenses of foreclosure, the undersigned will sell at public auction on OCTOBER 10, 2013 at 10:00 a.m. or soon thereafter at the main entrance of the Office of the Clerk of Court, Regional Trial Court , Hall of Justice, Cagayan de Oro City, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all the improvements found thereon, described as follows:

READ!

TCT No. T-197174 ‘’A PARCEL OF LAND (Lot 51, Block 17, Pcs-10-003948, portion of Lots 3615-B, Psd-10-004675,24178-A, Psd-10-009444, 3614-A-1-B, Psd10-009566,24178-B-1, Psd-10-010320, 24178-B-2-A, Psd-10-052968, 24178-B-2-B-1, Psd-10-054199, 24178-B-2-B-6, Psd-10-054199, 24178-C-1, Psd-10-054997, 3605, Cad. 237, Cagayan Cadastre), situated in Barangay Iponan, City of Cagayan de Oro, Province of Misamis Oriental, Island of Mindanao, containing an area of FIFTY (50) square meters, more or less.’’

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

In the event the auction date falls on a holiday, the same will proceed on the following working day, without further notice, posting and publication.

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

Cagayan de Oro City, September 2, 2013.

FOR THE EX-OFFICIO PROVINCIAL SHERIFF By:

www.businessweekmindanao.com

BWM: Sept. 28, Oct. 5 & 12, 2013

(Sgd.) MA. TERESITA QUIBLAT-INSO

Sheriff BWM: Sept. 21, 28 & October 5, 2013

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september 28-29, 2013 Republic of the Philippines Regional Trial Court of Misamis Oriental 10th Judicial Region Branch-20 Cagayan de Oro City

Republic of the Philippines REGIONAL TRIAL COURT 10th JudiciaL Region BRANCH 24 Cagayan de Oro City HDMF (PAG-IBIG),

Mortgagee,

-versus-

CARENE E. ILAGA,

Mortgagors. x---------------------------------------------/

FILE NO. 2013-254 FOR: EJF OF REAL ESTATE MORTGAGE UNDER ACT 3135

SHERIFF’S NOTICE OF SALE

Upon extra-judicial petition for sale under ACT 3135 as amended filed by HDMF (PAG-IBIG) mortgagee, against CARENE E. ILAGA mortgagor, resident of Barangay 6, Waterfall, Balingasag, Misamis Oriental, to satisfy the mortgage indebtedness which as of August 1, 2013, amounts to (P 181,122.71) excluding penalties, charges, attorneys fees and expenses of foreclosure, the undersigned Sheriff will sell at Public Auction on October 21, 2013 at 9:00 A.M. or soon thereafter at the main entrance of the Hall of Justice, Hayes Street, Cagayan de Oro City, to the highest bidder , for CASH and in Philippine Currency, the properties with all its improvements to wit: TRANSFER CERTIFICATE OF TITLE NO. T-45334

LOT : 3279-B, Psd-10-050938

PORTION OF LOT : 3279, Cad-507, Balingasag, Cadastre

AS SURVEYED FOR : SEGUNDINA ACERO

LAND USE : Residential

LOCATION : Barangay Waterfall, Balingasag, Misamis Or., Island of Mindanao

AREA : THREE HUNDRED SEVEN (307) square Meters more or less

FIRE PROTECTION & PLUMBING SERVICES

Prospective buyers may investigate for themselves, in the event of Auction Sale can not take place for whatever legal reason the sale will proceed on the following day, without further notice, posting and publication, the title here in above and encumbrance thereon, if any there be.

Cagayan de Oro City, Philippines, September 3, 2013.

(Sgd.)TERESITO C. ESTENZO Sheriff IV BWM: Sept. 14, 21 & 28, 2013

MARILYN V. BUSILAC represented by SPL PROC. CASE NO. 2013-072 ATTY. ALEJANDRO JOSE PALLUGNA,

Petitioner, -versusNORMA S. DIPUTADO, LOCAL CIVIL PETITION FOR DECLARATION REGISTRAR OF CAGAYAN DE ORO OF DEATH OF KENT V. BUSILAC CITY,

Respondent.

X-------------------------------------------------/ ORDER

Finding the petition for the declaration of presumptive death of KENT V. BUSILAC to be sufficient in form and substance, the same is hereby set for hearing on October 15, 2013 at 8:30 o’clock in the morning before this Court, at Room 113, hall of Justice, Cagayan de Oro City.

At the expense of the petitioner, let this Order be published in a newspaper of general circulation in the City of Cagayan de Oro and the Province of Misamis Oriental at least once a week for three consecutive weeks.

Let copy of this Order be published upon the Solicitor General at Makati City, and the City Prosecutor of Cagayan de Oro City for them to appear in behalf of the state.

Done this 20th day of August 2013, at Cagayan de Oro City, Philippines.

(Sgd.) BONIFACIO M. MACABAYA Presiding Judge BWM: Sept. 14, 21 & 28, 2013

“Dedicated to Quality, Commited to Service.”

09269678094 / (088) 3092357 Services Offered: > Wasteline Installation > Leak Pipe Repair > Water Pump Installation & Automation > Downspout Installation & Repair > Waterproofing > Accept Plumbing Estimates > Water Tank Installation > Fire Suppression Installation > Gas Burner Cleaning & Repair > Pull-out Wasteline system Clog-up > Sprinkler Installation > Painting > Window Grill Making > Welding > FREE CHECK-UP w/in 5km radius

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 25 Cagayan de Oro City OFFICE OF THE PROVINCIAL SHERIFF SHERIFF’S NOTICE OF SALE File No. 2013-238

Upon extra-judicial petition for sale under Act 3135 as amended filed by HOME DEVELOPMENT MUTUAL FUND or PAG-IBIG FUND, Mortgagee, with address at J.R. Borja Street, Cagayan de Oro City, against ILENE S. PEREZ, Mortgagor, with postal address at C/O St. Ignatius Learning Center , Lot 1 , Block 67, Xavier Heights Subdivision, Balulang, Cagayan de Oro City or Lot 2 , Block 8 , Xavier Heights Subdivision, Carmen , Cagayan de Oro City, to satisfy the mortgaged indebtedness which as of August 1, 2013, amounts to TWO HUNDRED FIVE THOUSAND EIGHT HUNDRED SEVENTY THREE PESOS & 53/100 (P 205, 873.53), inclusive of interest and penalty charges , attorney’s fees equivalent to ten (10%) percent of the total indebtedness plus foreclosure expenses , the undersigned Sheriff will sell at public auction on October 30,2013 ,at 10:00 o’clock in the morning or soon thereafter at the main entrance of the Hall of Justice , Arch. Hayes Street, Cagayan de Oro City, to the highest bidder , for CASH and in Philippine Currency the property mentioned in the said mortgage which is described as follows: TRANSFER CERTIFICATE OF TITLE NO. T-132498

‘’A PARCEL OF LAND (Lot 2, Block 8, of the subd. plan Psd-10-024063, being a portion of Lot 3047-B-1, Psd-10-022552. Situated in the Barangay of Carmen , City of Cagayan de Oro, Island of Mindanao. Bounded on the NW., along line 1-2 by Lot 1 of Block 8 of the Subd., plan , on the NE., along line 2-3

by Lot 3047-A Psd-10-010169; on the SE., along line 3-4 by Lot 3 of Block 8 of the Subd. plan; and on the SW., along line 4-1 by Road Lot 7. Containing an area of ONE HUNDRED FORTY SEVEN (147) square meters, more or less, including all existing improvements thereon; registered in the name of ILENE SACAY PEREZ.”

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

In the event the public auction should not take place on the said date for whatever reason, the name will proceed on the following working day, without further notice, posting and publication.

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

Cagayan de Oro City, September 13, 2013

FOR THE EX-OFFICIO PROVINCIAL SHERIFF:

(Sgd.) LOVE M. VERDADERO Sheriff BWM: Sept. 28, Oct. 5 & 12, 2013

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region BRANCH 24 Cagayan de Oro City

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Branch 21 Cagayan de Oro City

Gaabucayan Extension, Agora Lapasan, Cagayan de Oro City

OFFICE OF THE PROVINCIAL SHERIFF OCEAN PEARL/ROBERTO CHING

Plaintiff,

-Versus-

VENUS ANONUEVO-GACASAN

Defendant.

X----------------------------------------------/

CIVIL CASE NO. 2010-065 FOR SUM OF MONEY, ETC.

SO ORDERED.

HDMF (PAG-IBIG), Mortgagee,

-versus-

SPS. RINSY and GLICERIO V. BACONG, Mortgagors. x----------------------------------------------------/

FILE NO. 2013-250 FOR: EJF OF REAL ESTATE MORTGAGE UNDER ACT 3135

NOTICE OF SALE ON EXECUTION OF REAL PROPERTY

SHERIFF’S NOTICE OF SALE

WHEREAS, by virtue of an order of Execution issued by Honorabe GIL G. BOLLOZOS, Presiding Judge of the Regional Trial Court , Branch 21, Cagayan de Oro City on May 6, 2013 in Civil Case No. 2010-065 wherein OCEAN PEARL/ ROBERTO CHING is the plaintiff and VENUS ANONUEVO-GACASAN is the defendant for SUM OF MONEY AND ETC. by way of distraint of the sum of THREE MILLION FIVE HUNDRED TWENTY TWO THOUSAND NINE HUNDRED SIXTY THREE PESDOS (P3,522,963.00) with interests, costs, etc. levy was made by Deputy Sheriff FE O. BONTUYAN-BULARON of Regional Trial Court, Branch 17, Cagayan de Oro City on March 18,2010, thru the Provincial Register of Deeds of Bukidnon, Malaybalay City on the rights, interests and participation of said defendant VENUS ANONUEVO-GACASAN in the real property more particularly describe as follows:

Upon extra-judicial petition for sale under ACT 3135 as amended filed

by HDMF (PAG-IBIG) mortgagee, against SPS. RINSY K. BACONG and GLICERIO V. BACONG, mortgagor, resident of C/O DEAN ORTALIZ B-10, L-33 REGENCY PLAIN SUBDIVISION, IPONAN, CAGAYAN DE ORO CITY to satisfy the mortgage indebtedness which as of July 19, 2013, amounts to (P 395,779.31) excluding penalties, charges, attorney’s fees and expenses of foreclosure, the undersigned Sheriff will sell at Public Auction on October 21, 2013 at 9:00 A.M. or soon thereafter at the main entrance of the Hall of Justice, Hayes Street, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the properties with all improvements to wit:

TRANSFER CERTIFICATE OF TITLE NO. T-47814 Lot : Cad Lot 486, Pls-9 Location : Malabuaya, Batangan, Valencia , Bukidnon Land use : Industrial Area : Eight Hundred Four (804) sq. m.

Declared Owner : Venus Gacasan

NOW THEREFORE , by virtue of said Order of Execution and in accordance with Rule 39, Section 19, of the Rules of Court, the Sheriff of Misamis Oriental will, thru the undersigned EX-OFFICIO Sheriff, or by deputy, sell at public auction to the highest bidder, for CASH and in Philippine Currency on October 15, 2013 at 9:00 in the morning to 2:00 O’clock in the afternoon or soon thereafter at the Hall of Justice , Cagayan der Oro City, the rights , interests, and Participation of defendant VENUS ANONUEVO-GACASAN, in the above –described real property in order to satisfy said Order of Execution, together with interests, costs, Sheriff’s fees and the expense of sale.

Cagayan de Oro City, Philippines, September 16, 2013

(Sgd.) EFREN G. MACABAYA Sheriff IV

BWM: Sept. 28, Oct. 5 & 12, 2013

TRANSFER CERTIFICATE OF TITLE NO. T-121727

A PARCEL OF LAND (Lot 33, Block 10, of the cons. Subd. Plan, PCS10-001781being a portion of Lot Nos, 3650, 3651, 3652, 3653, 3654,, all of Cad-237,Cagayan Cadastre, Lot 3649-A, Psd-10-022211 & Lot 3649-B-1, Psd-10-022978.) Situated in the Barangay Iponan, City of Cagayan de Oro, Island of Mindanao Containing an area of EIGTHY (80) square meters more or less.

Prospective buyers may investigate for themselves, in the event of Auction Sale can not take place for whatever legal reason the sale will proceed on the following day, without further notice, posting and publication, the title here in above and encumbrance thereon, if any there be.

Cagayan de Oro City, Philippines, September 3, 2013.

(Sgd.)TERESITO C. ESTENZO Sheriff IV BWM: Sept. 14, 21 & 28, 2013

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Power... from page 1

“I am not really too much worried about Mindanao in the long-term because by 2015, especially in 2016, there will be enough power to the extent that there will be oversupply in the region,” Petilla said.

The DOE chief said IMEM aims to provide the platform for the electricity market in Mindanao and address the island’s supply shortfall.

“IMEM is not here as a final institution with final rules. It will react according to the needs of the electricity market rather than put out final procedures that cannot be changed,” Petilla said.

He added that IMEM is by far the most dynamic way of extracting uncontracted and available power capacities in Mindanao.

IMEM is designed to provide an immediate venue for transparent and efficient utilization of additional capacities to address Mindanao’s energy supply shortfall. This commercial electricity market would allow energy distributors to sell power supply from its embedded generators to areas with a supply deficit.

All of the distribution utilities and other generation capacities connected to the Mindanao power system are mandated to participate in the IMEM. However, the market is also encouraging the participation of the voluntary load customers through load curtailment or synchronized self-generation.

“We are assured of sufficient supply two years from now, but in the meantime we welcome the upcoming operations of Mindanao’s own electricity market to ease up deficiency,” said Mindanao Development Authority chairperson Luwalhati Antonino.

Antonio said although load curtailment are expected in parts of Mindanao mainly due to scheduled preventive maintenance of some power plants, the entry of capacities in the IMEM would result to better power outlook.

Since last year, many areas in Mindanao such as Zamboanga City and General Santos City were affected with rotating brownouts of up to six- to eight hours.

“We will extract every possible source we can find, with the dispatch protocol made fully transparent to all players,” said Petilla, adding that no electricity market would operate without a transparency mechanism.

Meanwhile, Romeo Montenegro, MinDa’s director for investment promotion and public affairs office said more than half of Mindanao’s power needs come from the National Power Corp.-operated Agus and Pulangi hydropower plants in Lanao.

“The Agus complex will undergo a series of preventive maintenance shutdown which will cause rotating brownouts in some areas in Mindanao,” Montenegro said in a statement.

“With the kick-off of IMEM, distribution utilities can now sell… extra capacities

from generators to electric cooperatives outside its franchise, which was not allowed before the interim market,” Montenegro added.

Montenegro said IMEM is a pilot test on the viability of Mindanao’s transition toward a Wholesale Electricity Spot Market five to 10 years down the road.

Palay... from page 1

The biggest palay producing province in the region for the period was Bukidnon posting 62,195 MT, up by 3.8 percent from the 59,896 MT it produced in the same period last year.

Clarete said Bukidnon’s palay production in both irrigated and rainfed areas went up because of the increases in plantings due to sufficient irrigation water and rainfall.

Black bug and stemborer infestation were also controlled during the vegetative stage.

Meanwhile, total yield increases were noted in both irrigated and rainfed areas despite yield reductions in Camiguin and Misamis Oriental.

This brought the average yield for the quarter to 4.12 MT per hectare, up by 3.30 percent from the 3.99 MT per hectare recorded in the same period last year.

With the increase in the average yield, Clarete said the value of production went up to P2.345 billion exceeding by 1.35 percent the second quarter 2012 value of P2.313 billion.

Land... from page 1

Kaamulan Chamber of Commerce and Industry Inc. (BKCCII), said the revision is timely.

He noted the new zoning ordinance will secure the poultry industry and is also being awaited by the real estate and eco-tourism sectors, whose representatives were among the hundreds who attended the hearing, mostly from the city’s 46 barangays.

Adrian Gamboa, CPDO officer-in-charge, told MindaNews Wednesday the plan is still open for changes and suggestion.

He said that when the city’s CLUP expired in 2010, they started to update it and then initially presented it to the City Development Council in 2011.

The CPDO was ready to present the proposed revisions in December 2012 but the city council committee deferred it due to the campaign period, Gamboa said.

He told the public hearing that it is important to revise the CLUP for the allocation of lands for future development and to keep people safe by guiding development away from hazardous areas and reducing risk to disaster.

The CLUP, he added, will also help ensure sustainable use of resources and facilitate delivery of services.

While he presented only the highlights of the proposed revised CLUP, Gamboa, said “nothing much” has changed between the 2001-2010 CLUP and the proposed version.

Gamboa did not distribute copies of the proposed CLUP during the public hearing due

11

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to a “technical glitch.”

He said that after the city council approves the CLUP revisions, the measure will be submitted to the Provincial Land Use Committee for the approval of the provincial board.

Tinsay, also president of the Chamber of Real Estate Builders Association Inc. in Malaybalay, said there is also a need to address flooding in the city that’s why the need for a revised CLUP. But Engr. Alson Quimba, provincial agriculturist, cited the need to incorporate food sufficiency projections in the considerations for the CLUP revision, particularly for agricultural commodities like rice, corn, vegetables, livestock and fisheries.

“When you speak of (agriculture) protection, you must also be talking about interventions (to prevent farmers from leaving the core crops and shift to industrial crops and jeopardize food security),” he stressed.

On the issue on the moratorium on agricultural plantation expansion, Quimba suggested that aside from their business permits, companies must hold a public hearing for the people to decide if they should continue operating.

Mayor Ignacio W. Zubiri, who stayed throughout the hearing, assured that the city government will take seriously its role to regulate industries in the city, noting the need to balance economic development and environmental protection.

This was also his reaction when asked by businessman Juan Salang, another official from the Kaamulan chamber, on how he would present the city’s policy on plantations to Singaporean investors interested to put up at least 1,000 hectares of coffee plantation in the city.

Eric Dagawasan, former Kalasungay barangay chair, questioned the alleged lack of consultation among the indigenous peoples (IPs) even if the proponents have consulted the barangays, health, business and other sectors for their plan.

He said that about 50,000 of the city’s 108,259 hectares land area are covered by Certificate of Ancestral Domain Titles of the Lumads.

Engr. Jorge Cabanelez, the city’s zoning administrator, said the inputs of the IPs, through their Ancestral Domain Sustainable Development and Protection Plan (ADSDPP), will be integrated in the CLUP. But he clarified that not all items in the ADSDPP may be included as “there might be some conflicts.”

Ma. Shirlene Sario, provincial officer of the National Commission on Indigenous Peoples, also raised the need to set up cultural villages or schools for living traditions.

Councilor Lorenzo Dinlayan Jr said they have already incorporated it in the eco-tourism plan of the city.

Hubert Quiblat, branch manager here of the Land Bank of the Philippines, welcomed the CLUP but cited the need for the city government to update the schedule of land market values, which dates back to 1991, to help increase local revenue

generation.

Zubiri said the city government is positioning to increase real property taxes to improve revenue generation and to avoid too much dependence on the Internal Revenue Allotment.

Belino Epie, of the environmental desk of the Diocese of Malaybalay, said the CLUP should also include the Forest Land Use Plan (FLUP), considering that some farms are located in those areas.

Gamboa said after the CLUP, they will update the FLUP, which was classified in the 20012010 CLUP “as protection and production forests.

USAID... from page 1

flowing to SMEs in key sectors because of their weak borrowing capacity.

“We try to reduce if not completely tear down that Berlin Wall that separates banks from SMEs so that liquidity can flow to the SMEs,” he said during the recent general membership meeting of Philippine Exporters Confederation Inc. (PHILEXPORT).

LambertesaidCOMPETEproject addresses credit constraints for SMEs particularly problem of inadequate collateral and developing a winning business proposal that is acceptable to loan application.

“So we come up with a land titling activity and the (credit guarantee) mechanisms to address the issue on collateral. The other one is establishing an efficient credit information system,” he said.

Lamberte said they are in talks with donor agencies who are interested in setting up credit guarantee schemes for SMEs which will be coursed through directly to partner banks.

He identified these partner banks as Bank of the Philippine Islands (BPI) Savings Bank and BPI Family Savings Bank.

“And next month, we are going to add four more partner banks...So we have target loan portfolio and we monitor the utilization of that loan portfolio,” he added.

Lamberte said project also provides technical assistance and training meant to increase the borrowing capacities of SMEs through improvement in business management, including financial literacy.

“Many of them (firms) don’t like to scale up or expand operation because expanding requires financing. And they don’t like to approach banks because banks have been looking for something that they can’t handle, including financial plan. (The project) addresses these weaknesses,” he said.

Lamberte pointed out that COMPETE assists companies not only to expand their operations and increase investments.

“Most importantly, they are able to employ people. We want to look at investments and employment in this case,” he stressed.

Moreover, Lamberte said COMPETE also aims to promote increased trade and investment through better provision of infrastructure (component 1); and increased competitiveness of key industries --tourism, agriculture and manufacturing (component 2).

The USAID-assisted project is part of the US-Philippines Partnership for Growth (PFG) that helps the Philippines achieve a higher, sustained and more inclusive growth trajectory at par with other high performing emerging economies.

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