BusinessWeek january 23

BusinessWeek

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www.businessweekmindanao.com Issue No. 42, Volume III • January 23-26, 2012 Editorial: 088-856-3344

Market Indicators AS OF 5:50 P.M., JAN. 20, 2012 (Friday)

FOREX

PHISIX

US$1 = P43.27

4,747.90 points

; ; Briefly 22.5 cents

47.53 points

Power monopoly

A PROADMINISTRATION legislator has sought to prohibit crossownership between generation companies and distribution utilities to address and prevent the “vertical integration in generation and distribution subsector leading to blatant monopolistic control of the country’s electricity sector.”

House Bill 5678, authored by Liberal Party Rep. Ben Evardone of Eastern Samar, seeks to amend Section 45 of Electric Power Industry Reform Act (Epira) which expressly prescribed that: “No generation company or distribution utility, or its respective subsidiary or affiliate or stockholder or official of a generation company or distribution utility, or other entity engaged in generating and supplying electricity specified by Energy Regulatory Commission shall be allowed to hold any interest, direct or indirect, in Transco [National Transmission Corp.] or its concessionaire.”

BIMP-EAGA routes

MACTAN-CEBU International Airport will soon form part of a Southeast Asian sub-regional group’s commercial air route, the Mindanao Development Authority (MinDA) said.

“Philippine efforts supporting the establishment of strong transport connectivity as a pillar for growth in the four-country grouping BIMP-EAGA are seen gaining ground following concurrence by Mactan Cebu International Airport Authority recently to become part of the sub-regional route,” the statement read.

MinDA said expansion of air routes in the sub-region was discussed at the BIMP-EAGA Strategic Planning session held in Manila earlier this week.

The statement said the proposed Protocol Amendment to the Memorandum of Understanding (MoU) among governments of areas comprising the group designated Cebu and two other sites as points outside the sub-region where carriers will have stop-over rights.

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2012: THE YEAR OF THE DRAGON ACCORDING to the Chinese Zodiac, the Year of 2012 is the Year of the Dragon, which begins on January 23, 2012 and ends on February 9, 2013. The Dragon is the fifth sign of the Chinese Zodiac, which consists of 12 Animal signs. The Dragon is a creature of myth and legend. In ancient China, the celestial Dragon represents an emperor and power.

Today, it is the ultimate auspicious symbol signifying success and happiness.

May the celestial Dragon

bring great good luck to everyone.

In Sung Dynasty (a Chinese imperial dynasty lasting from AD 960 - 1279) texts, the dragon is described as having the head of an ox, muzzle of a donkey, eyes of a shrimp, horns of a deer, body of a serpent covered with fish scales, and feet of a phoenix. The dragon usually clutches a pearl symbolic of its supernatural powers. Invariably accompanied by thunder and rain, dragons move like

lightning and whirlwinds -- all powerful yet totally unpredictable.

The Sign of the Dragon People born in the Year of the Dragon share certain characteristics: Innovative, enterprising, self-assured, brave, passionate, conceited, and quick-tempered. The Dragons are the free spirits of the Chinese Zodiac.

Restrictions blow out their creative spark that is ready to flame into life. So, they KUNG HEI FAT CHOI. Dragon dance that welcomes 2012 must be free and uninhib- as the Year of the Dragon, according to the Chinese DRAGON/PAGE 7 calendar.

New deal to stabilize M’nao’s power supply

By NELSON V. CONSTANTINO Editor-in-Chief

House to probe Globe, Altimax ‘anomalous’ deal

M

INDANAO’s power supply has been given another boost after government regulators recently approved the agreement between Aboitiz-led Therma Marine, Inc. and Zamboanga del Sur Electric Cooperative, Inc. I (Zamsureco I) that will allow the latter to source 5 megawatts from the former’s power barges 117 and 118 for three years.

By ALLAN MEDIANTE Executive Editor

In a statement, the Energy Regulatory Commission (ERC) Therma Marine, Inc.’s power barge 117 moored at Nasipit, Agusan del Norte.

SUPPLY/PAGE 9 FILE PHOTO

A LAWMAKER has charged broadcast firm Altimax, telecom giant Globe/Innove and the National Telecommunications Commission (NTC) for “a colossal anomaly that involves at least P160 million, the violation of congressional franchises and the undermining of the authority and integrity of Congress itself.”

Bayan Muna Rep. Teddy Casiño in a privilege speech at the House of Representatives accused the NTC of allowing Altimax Broadcasting Co. Inc. to operHOUSE/PAGE 10

Oro govt to sanction gas dealers for violating price freeze order

By ROLANDO S. SUDARIA, Reporter

THE city council here directed an explanation from gasoline dealers for non-compliance of standing order of the state of national calamity in view of the disaster brought by tropical storm ‘Sendong.’

The Office of the President, on Dec. GAS/PAGE 7

PRICE FREEZE. Oil companies have implemented price increases recently, but Cagayan de Oro and Iligan cities are still under the state of camality and price freeze still in effect. PHOTO BY ROLANDO S. SUDARIA

2

Economy

January 23-26, 2012

BusinessWeek

P3-B project up for DavNor next year TAGUM City -- Various agencies of the national government intended to implement more than P3-billion worth of programs, projects and activities (PPAs) in the province of Davao del Norte next year.

The proposed funding was raised at the recent local consultation on the Calendar Year 2013 Annual Investment Program (AIP), where agency regional offices (AROs), state universities and colleges (SUCs) and other stakeholders presented their PPAs for the province for 2013.

The Department of Public Works and Highways (DPWH) topped the list of AROs as it plans to shell out P1.3 billion-worth of public infrastructures for the province.

The Department of Education (DepEd) follows with over P1.1 billion-worth of proposed investment for the education sector next year.

Gov. Rodolfo del Rosario, who presided over the consultation meeting held at the Bulwagan ng Lalawigan in Mankilam, Tagum City, welcomed the budget, which

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he said will greatly contribute to the fulfillment of his humancentered development agenda, known as P.E.O.P.L.E. As Davao del Norte, along with other LGUs, is beginning to feel the impact of the 4.8 percent reduction in the internal revenue allotment (IRA) this year, Gov. del Rosario is optimistic that the province will be able to pass the fiscal challenges over.

He said Capitol financial managers have devised measures to combat the IRA cut, ranging from austerity measures, to enforcing

strict accountability, strengthening revenue generation, as well as, tapping national and overseas development assistance (ODA) funding opportunities.

According to him, the provincial leadership has since adopted the mantra of “maximum effectiveness at the least cost.�

National Economic Development Authority (NEDA)-XI Director Maria Lourdes Lim said the consultation of the AROs with the provincial government was done in order to reconcile and confirm PROJECT/PAGE 10

MINDANAO

P161.9M released for anti-poverty project in Caraga BUTUAN City -- The Department of Social Welfare and Development (DSWD) Caraga is expected to disburse a total of P161,968,531.62 in the first two quarters of this year through its anti-poverty program called KALAHI-CIDSS. The total amount comes from the World Bank loan of the government given to the region amounting to P137,280,487.93 and an additional P24,688,043.69 from the local cash contribution (LCC) of the implementing local government units (LGUs).

According to Regional Project Manager and Assistant Regional Director, Mita G. Lim, the regional office will disburse the amount through tranches in the community accounts of the barangays.

Moreover, the total cash grant will be disbursed to a total of 136 sub-projects of the 15 partner LGUs throughout the region.

Two LGUs are implementing KALAHI-CIDSS Additional Financing while 13 LGUs are currently implementing the LGU-led Makamasang Tugon.

These areas are Veruela, Esperanza, La Paz, San Luis, and Sibagat in Agusan del Sur; Carmen and Jabonga in Agusan del Norte; Tagbina, Marihatag, Hinatuan, Bayabas, and San Miguel in Surigao del Sur; and Pilar and Socorro in Surigao del Norte.

After achieving a hundred percent fund disbursement last year, the regional project management office (RPMO) is hoping to do the same in the middle of the year.

BusinessWeek

MINDANAO

January 23-26, 2012

3

4 January 23-26, 2012 PAL Valentine’s promo sale STEPPING up its promotional offering, Philippine Airlines (PAL) is launching another special treat for travelers in time for Valentine’s Day: purchase a business class ticket and get another one, absolutely free.

Dubbed “Let Your Love Fly Free,” PAL’s latest promo, which offers limited seats, gives passengers who buy regional and international tickets a chance to join and win in the “Love NYC Tour Raffle”. Meanwhile, those who purchase domestic tickets earn one entry to the “Love Asian Tour Raffle.”

Promo period is from January 17 to February 13, 2012.

Tickets are valid for travel from January 23 to March 31, 2012.

Highlight of the “Love NYC Tour Raffle” is PAL’s Valentine Broadway Experience package which includes two roundtrip Manila-New York business class tickets, accommodation

at the Peninsula New York plus a pair of tickets to Phantom of the Opera and Wicked on Broadway.

To join the “Love NYC Tour,” just send the following details via SMS: PAL LOVENYC <primary ticket number> <primary passenger name> <address> example - PAL LOVENYC 0791234567890 JOSE FLORES 1234 PAG-IBIG STREET MANILA Meanwhile, two roundtrip business class tickets to Hong Kong await winners of the Asian Tour raffle. To qualify, entries must register via SMS by sending the following information: PAL LOVEASIA <primary ticket number> <primary passenger name> <address> example - PAL LOVEASIA 0791234567890 JOSE FLORES 1234 PAG-IBIG STREET MANILA Send to 2327 (Globe subscribers) or 09178902327 (nonGlobe subscribers).

Gov. Alex “Boy” Calingasan “Our prayers for your success in Making Bukidnon a place where Love and Joy never die.” HAPPY BIRTHDAY. Greetings from:

DILG Bukidnon Team

Companies

BusinessWeek

MINDANAO

Photo industry mourns Kodak NEW YORK - Photographers, professionals and amateurs alike, are mourning the end of an era after Eastman Kodak, which produced the cameras and film many started hobbies and careers with, filed for bankruptcy.

While Kodak could still recover after courtsupervised restructuring and selling off assets, the company that did more to popularize photography in the 20th century than any other is unlikely to claw back the ground taken over by digital cameras and memory sticks.

From the simplicity of its Brownie cameras to the brilliant colors of its Kodachrome film, Kodak was a constant presence in the lives of three generations of amateur and professional photographers around the world.

That will be sorely missed, said Henry Posner, corporate communications director at B&H Photo, New York’s Mecca for camera shoppers.

“Everybody in the photography industry is impacted,” he said. “You can’t be a professional photographer or an avid amateur and not feel the ripple of it.”

“When I started photography ... Kodak was what you put in your camera.

From an emotional point of

Already a shadow of its former self, cash-poor Kodak will now reorganise in bankruptcy court as it seeks to boost its cash position and stay in business.

pressed Eastman killed himself, the company began selling the first filmstock for amateur movie makers.

It also developed home 8 millimeter movie projectors, all of which gave way to the Super 8 movie technology of the 1960s.

And “Kodak Moment” -- the company’s advertising catchphrase for its film -- became embedded deep in the US vernacular.

At its height in the 1980s, the company had 145,000 workers, and was seen as the Apple or Google of its day, a leading innovator able to attract the most creative scientists to become.

NASA lunar orbiters in the 1960s brought back some of the earliest images of the moon’s surface on Kodak film, and the first astronauts to walk on the moon documented their historic expedition with a shoe box-sized Kodak camera.

Kodak also furnished

the film for countless Hollywood movies, including 80 Oscar-winning “Best Pictures,” and it won nine Academy Awards of its own for scientific and technical excellence, according to the company website.

But when digital cameras began to appear in the mid1990s, the company -- which had already years earlier developed its own digital technology -- was unprepared and lost the market to more nimble Asian producers.

No one needed film anymore, and Kodak fell behind in the race to sell the cameras themselves.

It was an ominous sign last year when the company stopped producing its Kodachrome film, long the standard of qualify photographers.

For many, it was like losing a limb.

“Photographers developed a type of seeing depending on the kind of

PLDT now acquires 98% of Digitel after tender offer

Pag-IBIG goes after erring employers

view, this is a serious situation.... I hope Kodak comes out healthy and strong and keeps making available every product our customer can buy.”

Kodak founder George Eastman began experimenting with film rolled around a spool in the 1880s, and launched Eastman Kodak in 1892 in Rochester, New York.

To sell the film, the company developed a simple low-priced camera, the Kodak Brownie, that introduced millions to photography.

“You push the button and we do the rest,” Kodak’s advertisements told consumers, and millions took up the challenge.

Eventually, the company’s cameras, film, slide projectors and home videos came to preserve the memories of generations of Americans and others around the world.

In 1932, the year a de-

PHILIPPINE Long Distance Telephone Co. (PLDT) now owns 98% of Digital Telecommunications Philippines Inc. (Digitel) after completing a tender offer to public shareholders.

PLDT said in a statement that nearly all minority shareholders availed of the tender offer of P1.60 per Digitel share or one PLDT share for every 1,559.28 Digitel shares.

The tender offer amounted to P4.6 billion, increasing the total value of PLDT’s acquisition of Digitel to P73.8 billion. PLDT earlier entered into a P69.2 billion share swap and bond deal with the Gokongwei group for the latter’s 51.55% stake in Digitel.

With Digitel’s public ownership now below the 10% minimum requirement of the Philippine Stock Exchange, PLDT will file a petition for the voluntary delisting of the unit.

The law requires any group that buys at least 35%

of any listed company to conduct a mandatory tender offer to other shareholders to give them a chance to sell their shares at the same price of the original transaction.

PLDT said a total of 2.888 billion Digitel shares were tendered, representing approximately 94% of the shares held by the public.

Of the shares, 13% or 374 million Digitel shares will be paid in cash, and 87% or 2.514 billion Digitel shares will be paid in PLDT common shares. This translates to the payment by PLDT of about P600 million in cash and 1.6 million PLDT shares.

The tender offer started last Dec. 7, 2011 and was originally scheduled to end on Jan. 9, 2012. However, PLDT extended the offer period until Jan. 16 to give Digitel shareholders more time to participate in it.

PLDT said the settlement of both cash and share transactions with the Digitel minority shareholders will be on Jan. 27.

PAG-IBIG Chief Executive Officer Darlene Marie B. Berberabe has announced that the Fund will be intensifying its efforts to enforce the mandatory provision of Republic Act 9679. Under the said law (the Home Development Mutual Fund Law of 2009), membership in Pag-IBIG Fund is mandatory for all employers and employees covered and should be covered by the SSS and the GSIS. By end of 2011, there are still some 250,000 employers around the country who are not registered with the Fund. “These employers are depriving their personnel of the benefits of membership in the Fund – benefits which include long term savings with better than usual earnings, access to housing finance, and easy access to short-term cash loans in times of need,” according to Berberabe.

To help enforce the law, Pag-IBIG has forged agreements with local governPAG-IBIGL/PAGE 9

BusinessWeek

MINDANAO

January 23-26, 2012

5

PicLyf makers ready for possible deals in Silicon Valley

By MAI GEVERA-MACAPAGAT, Contributor

D

AVAO City -- Davao-based makers of a photo blogging site, PicLyf, got their break recently as they bagged one of the three slots in the ON3 Pitching competition organized by the Science and Technology Advisory Council of Silicon Valley (STAC-SV).

PicLyf will be sent to Silicon Valley for a threemonth immersion where they could sign business deals with venture capitalists.

PicLyf maker Eric Su described their winning platform as a site where people could share detailed pictures of their life.

“It’s a fun-to-update life blog, personal catalog and scrapbook rolled into one,” he said.

When asked the difference of PicLyf from the popular Facebook and Google social networking sites, Su said, “ We do not have intention of taking the place of FB or Google.

Rather, we focus on our edge which is the photo.”

The site enables the user

to delightfully remember life through the photo portfolio.

It took the PicLyf team about two years before setting to formal work.

This Davao-based team traversed the hard road until they had their platform all ready for the international market. “ I remember a Singaporean company approached us and offered a considerable amount of money to partner with us in this project. But we declined realizing that their terms are not that favorable,” Su said.

Through their innovative ideas, the platform now enables users to annotate photos, tag friends, zoom in on big pictures, react to them in one tap, and keep track of people they follow.

GM regains crown as top-selling automaker DETROIT/TOKYO - General Motors Co regained its title as the world’s topselling automaker from Japanese rival Toyota Motor Corp in 2011, but the U.S. company faces a challenge to stay on top this year as Toyota rebuilds its disasterstruck business.

GM, bouncing back from bankruptcy only less than three years ago, said on Thursday it had sold 9.026 million vehicles globally last year, up 7.6 percent from 2010, with its Chevrolet brand setting a sales record of 4.76 million vehicles.

The Detroit-based automaker’s return to the top slot comes after its 2009 taxpayer-funded bankruptcy restructuring allowed it to cut its spiralling legacy costs.

It also comes as Toyota’s sales fell an estimated 6 percent in 2011 to 7.9 million vehicles, hit by severe production cuts following an earthquake, tsunami and nuclear crisis in Japan, and deadly floods in Thailand.

The Japanese automaker is ramping up production to rebuild depleted inventory and will add output capacity in emerging markets such as Brazil and China this year. But analysts said it also

faced stiffer competition as rivals step up their game.

“Toyota’s biggest problem is that even without the natural disasters, its sales weren’t exactly growing,” JP Morgan auto analyst Kohei Takahashi said.

“The ranking is not that important, but they need a convincing strategy to boost their sales,” he said, adding that Toyota was behind rivals such as Nissan Motor Co in rolling out small cars for emerging markets.

Toyota’s 2011 worldwide sales tally included listed subsidiaries Daihatsu Motors Co and Hino Motors Ltd , and it put the carmaker just behind Volkswagen AG, which sold 8.16 million vehicles last year.

Toyota gave no forecast for this year for the group, but said it expected parent-only sales to jump 20 percent to a record 8.48 million vehicles in 2012.

Daihatsu and Hino sold around 850,000 vehicles combined in 2011.

Toyota is expected to publish a final sales tally for 2011 later this month.

Shares in Toyota were up 2.9 percent on Friday morning in Tokyo, while GM ended up 1.3 percent in New York.

Tender offer for Steniel’s shares starts this month MORE THAN a quarter of the shares of listed packaging firm Steniel Manufacturing Corp. will be subject to a tender offer by the end of the month, a disclosure showed last week.

This comes as Right Total Investments Ltd.

moved to acquire 100% of the issued and outstanding capital stock of Steniel (Netherlands) Holdings B.V. -- the parent firm of Steniel Manufacturing -following a share purchase agreement dated Jan. 18.

“We understand that SHARES/PAGE 9

to explain their business venture and convince the judges how efficient and significant their product or project is in the field of information technology.

Su shared how challenging the competition was for them especially with the three-minute time limit given to them. “ We presented a big product and so it was difficult to sculpt it in a brief presentation. But we did it until the core became obsvious, ” he said.

Over all the other entries from other parts of the The PicLyf team joined tion last year wherein they country, Su believed that the ON3 Pitching Competi- were given three minutes PicLyf ’s edge was on risk

management and possible returns that the product could provides as these are important considerations taken by any investor.

The team hopes to sign deals in the 3-month exposure and immersion in Silicon Valley. They do not have a particular target investment amount to bring home from California, however, they are determined to continue upgrading the platform.

PicLyf is set to place advertisements on the side by February and will seek the help of bloggers to spread the word about this photo diary site.

6 January 23-26, 2012

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THE business pages of last week’s newspapers carried articles about the Bangko Sentral ng Pilipinas (BSP) posting a net loss of P23.62 billion in the first three quarters of 2011.

The net loss was attributed by BSP officials to significant dollar purchases by the central monetary authority in a bid to prevent the peso from suddenly and sharply appreciating vis-avis the US dollar.

Is this good or bad?

First, one has to understand that central banks look at the bottom line differently from commercial banks. While commercial banks would look at profitability as a prime indicator of performance, BSP views profitability as merely secondary.

The primary mandate of BSP is to maintain price

stability, i.e., to keep inflation low and stable. Profit only becomes relevant for purposes of determining the amount of dividends that the BSP would have to remit to the national government.

As Axel Webber, former president of the Bundesbank once said in an interview with Reuters News: “The Bundesbank profit is a residual issue for me and my colleagues…I don’t enter into any strategic considerations about Bundesbank profits, neither in the morning, afternoon or evening.”

That said, let me explain how the losses came about.

When you have an influx of dollars into the country, the tendency would be the drive up the value of the peso. The dollars come in the form of remittances from our three million Overseas

Opinion

BusinessWeek MINDANAO

Balancing Act THINK a minute…

A hotel sign in Tokyo, Japan had this rule on it: “Is forbidden to steal towels please. If you are not person to do such is please not to read sign.” Someone said that rules are like a fence around us. We need them to keep us inside so we won’t break out and hurt ourselves or others. We have rules at home, at work, at school, in sports, and for driving on the road. And if we move to another country and culture, we must learn to follow their rules.

Many p e ople t hink Christians are a group of people who just try to follow strict, boring rules that are old fashioned and definitely

not cool! They think Christians can’t have any fun or freedom in life. We can’t do this or that, can’t go here or there. So they think being a Christian is like living inside a fence or prison wall that won’t let you out to have fun and enjoy life. But that’s not true Christianity!

Jesus Christ Himself said He did not come to bring more rules to build a tighter fence around us so that we become prisoners. It’s just the opposite! Jesus said He came to set people free, so we won’t need rules to keep us honest or force us to love and forgive others.

Jesus isn’t nearly as interested in rules as He’s interested in YOU. He knows

that if you’ll just let Him take full charge of your heart and character every day, He can start changing your life.

Then you and I won’t be like children who need a lot of rules to tell us what and what not to do. For example, if you truly love your neighbor, then you don’t need a rule to stop you from stealing from him, since you never steal from someone you really love and care about.

When God the Son changes our heart and character inside, then everything we do comes from the new person we’re becoming. Jesus’ love and power starts to set us free from being a prisoner to our selfish greed and dishonesty.

So won’t you ask Jesus to

THINK A MINUTE

JHAN TIAFAU HURST

forgive you for your wrong, self-centered heart? Then ask Him to start changing you, so you can enjoy the success and freedom of having Jesus’ character and life yourself, which is so much more than rules.

Just think a minute…

Multi tasking in the Hotel Industry HUMAN resources managers in the industry have long adapted the Philippine’s business strategies in maximizing productivity in the labor sector. The Philippines is noted as one of the country in Asia with high labor cost that eats up to 20% of the business profit.

Hotel businesses which delivers the personalized human touches that pleases and create satisfaction is labor intensive. From the Bellhops that carries the guests luggage up to the Dishwashers that sanitized the dining and kitchen wares, organizational manning are created to go with the flow chart of the hospitality business.

Automation has a limited application for hotel operations that applies only to the front line department handling reservations and monitoring of revenues through the Point of Sales origin or POS. Few staff are utilized in the Electronics Data Processing Department (EDP) with several software’s installed by hotel properties to do the inventory recordings and costing then run the balance from the journal

entries instead of providing individual staff for the recordings and balancing of receivables, payables and reconciliations of audit and other accounting functions.

With a progressive labor front applying pressures through collective bargaining agreements or cooperatives which gained participations in the management of the company wage decisions, hotel owners or property investors have no choice but to cough up the periodic salary increases on top of legislated wage orders from the government. When that happens cost are naturally added to the gross selling prices of the rooms or the food or even multiplied in accordance with every hotel properties operating standards.

When cost are not met , it is the labor portion that goes under knife either through staff reduction or lay off, a painful management decision that sometimes goes for labor arbitration. Cost reductions are business tools to balance profitability against losses.

Many arbiters decisions are not entirely pro labor but

also pro business, meaning business enterprise have to survive to promote or guarantee continuous employment in the industry.

The Department of Labor and Employment or DOLE has to provide the balancing act to support employment generation.

This is where the Regional Tripartite Wage B oard functions assist the industry in the determining the correct wages per economic strata of the country. Membership in this quasi government and private body must have a full grasp of the GDP and the prevailing economic conditions in the regions.

A tasked that a Politician should never venture.

New hotel enterprises have modified and compressed the staff ’s job descriptions to include various inter related functions called “multi tasking”. It is of great benefit to the job holders to be performing other multi disciplinary functions as it would make the job holder well rounded in the field. When the talent is ripe for picking, Filipino hotel workers are better equip to find their future

TRAVERSING THE TOURISM HI-WAY

PED T. QUIAMJOT in the foreign countries which have a great demand for Filipino hoteliers, so far described as the best worker in the Asia Pacific region.

There are also other tasks in hotel food production that reduces labor employment through the applications of technologies like blast freezing for process food and combi steaming for cooking that eliminates the hierarchy and manning in cooking preparations. Labor in the sanitation and cleaning process are reduced through dishwashing machines and vacuum cleaners that suck wet and dry garbage. Multi tasking is not only limited QUIAMJOT/PAGE 7

The BSP’s Bottom Line Filipinos as well as from foreign portfolio investments or the so-called “hot money”.

What would have happened if the Bangko Sentral did nothing? The peso would have strengthened far beyond what our Overseas Filipinos and our exporters could bear. Families of our OFWs would have received significantly less pesos for every dollar that bread earners sent from abroad. Our exports, on the other hand, would be less price competitive and our exporters would eventually lose their markets.

To avert this, the Bangko Sentral buys the dollars (to prevent the peso from strengthening abruptly). But in the process, the Bangko

Sentral releases pesos to the system. This is also not good because too much pesos would drive up local prices.

The Bangko Sentral then performs the second leg of its stabilizing action. The BSP siphons off the excess pesos from the market. This is done in two ways: One. The BSP sells government securities. Two. The BSP offers Special Deposit Accounts (SDAs) The BSP incurs tremendous interest expense by offering SDAs. Just imagine paying 4.5 per cent per annum on P1.6 TRILLION! What happens to the dollars that the BSP purchased?

They eventually form part of the gross international reserves which over the last

five years have grown by leaps and bounds. (OVER US Dollars 75 BILLION as of Dec 2011) But herein lies the paradox. When the dollar component of the gross international reserves is revalued, the BSP loses if the peso appreciates. (Conversely, the BSP gains if the peso depreciates.)

At the end of the day, we have to bear in mind that the BSP’s 2011 net loss was borne out its NECESSARY efforts to smooth out the exchange rate fluctuations, even if such efforts proved costly.

Again, I must point out that the BSP was not created for profit. While other types of banks are ultimately concerned about their profits,

SPEAKING OUT

IGNACIO BUNYE the BSP has its own bottom line, as emphasized in the BSP vision: “to deliver a high quality of life for all Filipinos.”

Note: You may email us at totingbunye2000@gmail. com. Past articles may be viewed at http://speakingout.ph/speakingout.php.

BusinessWeek

January 23-26, 2012

MINDANAO

Radioactive Iodine: Indications LAST week, I discussed the most common of thyroid problems, which causes that unsightly mass on the neck area, Goiter. There are other known conditions affecting the thyroid gland, and what causes panic more often than not, is when the initial impression is that of a tumor, which is classified either as Benign or Malignancy. The difference though with other organs of the body when it is affected by tumors, particularly the Big C, is the higher rate for mortality, so unlike with the thyroid gland. I often tell my patients that, one of the best locations for a Big C to occur , is the thyroid gland, as its survival rate is very high!

The most common of the thyroid malignancies is Papillary Carcinoma, which is the most common of all types, accounting for 70% of cases, with very good prognosis. It is no respecter of age and sex, though, it is more common among women, average age of which is 40, though it can affect any age group! Its main presentation is again a mass in the neck area and usually is diagnosed through Fine Needle Aspiration Cytology.

At other times, the Clinician Friend may consider the disease after a radioactive Iodine Uptake Test result is out. An RAI uptake test is

Quiamjot... from page 6

Self-destruct USUALLY applied to weapons that are prepared in a way that it self-detonates in a given time and opted place – this is the usual understanding and implication of the phrase “self-destruct.”

Prepare the power keg as desired and designed. Leave it alone, and it automatically brings about its own self-explosion or detonation, its own wreckage and demolition.

The phenomenon of self-ruin finds their relevance about individuals who “self-destruct” primarily on account of their own twisted thinking and pursuant errant actuations.

Theirs are foolish desired and designs, convoluted options and irrational decisions.

Their unreasonable behavior and weird decisions undo their own personal worth and dignity, their private and public stature.

Again, leave them alone and they “self-destruct” – by themselves.

Greed! This is one of the eventual causes of someone geared for self-destruction.

In plain language, the said capital vice is understood as an inherent craving for something constitutional rapacity of something.

Said craving or rapacity

is usually directed towards having anything coveted, everything desired. It has some kind of a driving premise: “All or nothing!”

The truth is that greed is errant egoism. It therefore becomes an aberration in such a degree and intensity that the individuals thus adversely affected are in “self-destruct” mode.

Meantime, those impacted by such a serious psychical malady love in peace with themselves, act and behave with ease as if everything is super and dandy.

Greed for power through any means. Greed for wealth by any way. Greed for prominence at any cost. These can be said as the three species of greed.

And this is the truth for people in general – irrespective of race, color, and creed.

It is interesting to note that the greed for power is usually accompanied by the greed for wealth that helps in having and preserving political power, and that the greed for prominence is ordinarily satisfied by power and wealth.

This tripod of greed is neither unknown nor difficult to understand. It is a fact of history. The truth is that it accompanied a good number of individuals who

were intrinsically insecure and/or unstable, who were inherently diffident and/or wobbly in their thoughts and actions.

It is enough to contemplate and analyze what have happened and what are still happening in the world – such as the Middle East, Asia well included. The spectacle is so gross and blatant that it becomes rather easy to know who are the characters who are geared to self-destruct specially on account of their greed for power through any means – unless they have already undergone selfdestruction long before.

The about thoughts are herein committed to writing – just for the record.

Dragon...

they can suffer bad health as a result of excess stress.

Symtoms of their personalities often stem from emotional outbursts and can range from tension headaches to depression to hypertension. They can remedy these problems by maintaining their cool, implementing a routine in their daily lives, and practice meditation, Tai Chi or Yoga that soothe the mind and spirit as well as tone the body.

The Dragon is not the most domesticated of the Animal signs. So, people born in the Year of the Dragon prefer enjoying outdoor activities rather than staying at home.

They are extroverts who have a deep love for nature. Their homes should be as large and majestic as their personalities, providing space for the fiery temperament or emotional eruptions that accompany their character. They have true and sincere love, which comes from the depths of their hearts.

Dragon people are quite imaginative, always able to see new paths and will take a radical approach. They have innate explorative spirit and try to succeed at one stroke.

They are very adaptable and are fit for various occupations, especially if those occupations allow them to take the limelight.

They work hard, but would rather give orders than receive them. They should avoid jobs that encompass too much routine, and should move toward jobs in which their self-reliance can be an asset.

People born in the Year of the Dragon like to spend money and are charitable themselves as well as with others. Many Dragon people will take big chances with their finances. It is very rare that they remain poor for long. They will always be straightforward in financial dealings and can always be trusted.

Dragon Years: 02/19/1904 t o 0 2 / 0 3 / 1 9 0 5 ( Wo o d ) , 02/03/1916 to 01/22/1917 (Fire), 01/23/1928 to 02/09/1929 (Earth), 02/08/1940 t o 0 1 / 2 6 / 1 9 4 1 ( Me t a l ) , 01/27/1952 to 02/13/1953 (Water), 02/13/1964 to 02/01/1965 ( Wo o d ) , 0 1 / 3 1 / 1 9 7 6 t o 02/17/1977 (Fire), 02/17/1988 to 02/05/1989 (Earth), 02/05/2000 to 01/23/2001 ( Me t a l ) , 0 1 / 2 3 / 2 0 1 2 t o 02/09/2013 (Water).

Famous Dragon People: Calista Flockhart, Colin Farrell, Courtney Cox, Courtney Love, Dinah Shore, Isabella Rossellini, Julia Ormond, Juliette Binoche, Reese Witherspoon, Roseanne Barr, Sandra Bullock, and Wynonna Judd.

from page 1 20, 2012, issued Proclamation No. 303 putting the entire city under the state of national calamity, following the killer flashfloods that devastated the city on December 17.

In a recent forum held in the city, sponsored by the

Department of Energy (DOE), Energy Undersecretary Jose Layug said that the department has a standing order excluding the cities of Cagayan de Oro and Iligan from the coverage of rounds of increases in the prices of petroleum products in view of the disaster brought by ‘Sendong,’ until after the lifting of the declaration.

Yet, days after Undersecretary Layug made the announcement, local gasoline dealers implemented oil price hikes to the dismay of the public, especially the motorists.

Hence, the order demanding an explanation from local gasoline dealers for their utter disregard of the DOE standing order.

for surveillance. to humans but it also ap- of security is reduced but However, the cost of plies with the inventions enhanced with the instal- luxuries and amenities of machines. The details lations of CCTV cameras in every hotel operations

are not compromised. It remains constant or untouchable in fact modified and periodically upgraded

because it is the purpose of the business to provide more than the usual in every setting.

actually requested and done in order to find the cause of an over active thyroid gland , manifest as hyperthyroidism. Another indication for the test is, in order to map out treatment plan. A simultaneous Thyroid scan may be done also. Other diagnostic tests include blood levels of the thyroid hormones.

The test itself ( RAI ) utilizes a radioactive tracer, which is Iodine, and a special probe to measure how much of the tracer is absorbed by the thyroid gland. The patient is instructed to fast 2 hours prior to the test, and to abstain from taking his/ her anti thyroid medications 5 to 7 days before the scheduled date. Iodine containing foods like multivitamins, iodized salt, canned fruits and vegetables , cured or spicy meats, salty foods, fish and shellfish should be avoided. It is important that history of allergies to any type of medications, and history of occurrence of anaphylactic reactions be elicited. Being pregnant or doing breast feeding are contraindications for the test. The test lasts for about 10 minutes and maybe repeated 24 hours after.

Aside from being careful when one urinates, where toilet flushing and hand washing is a MUST within

HEALTH IN FOCUS

DR. MARY JEAN LORECHE-DIAO

the next 24 hours after the procedure, the patient can actually resume his/ her regular activities.

RAI Scanning or treatment maybe done as Out Patient or as In Patient. It will largely depend on the dose that will be administered. When used to treat metastatic lesions, the dose is expected to be higher, thus requiring admission for proper monitoring as well as to protect family members from getting exposed to the radioactive substance. I would say that, it is of primary importance once again, to always discuss these things with the patient and the relatives in order to remove any misconceptions as well as making them understand why the necessity of isolation and what to expect, during and after the test or treatment. from page 1

Changing the language of the law TO aspire to speak and learn English should be the consideration and not to cow tow to some disgruntled group who do not understand English who wish to change the dialogue of the rule of law into Tagalog for the impeachment trial.

For the past four decades our country has enjoyed the title for best English speaking country within South East Asia.

Today now that we prosper from the Business Process Outsourcing opportunities, we are failing with that one consideration; Filipino’s no longer speak English and have mutated this with tag-lish.

While it may be true our education has failed us, I am not so sure it is entirely the systems fault. Sure we have lost the quality standards public schools used to enjoy with our teachers exported to our neighbor countries for better wages. I believe it is the continuing education that we get from media that has deteriorated our lead.

Broadcast TV and radio have been at the center of communication and in the past four decades have ruled using tag-lish and gay-speak.

I can’t imagine the legal terms many of which are in Latin seemingly like “duces tecum” which we’ve heard over and over again on the impeachment trial and in court, be translated into

7

tag-lish. Will the Filipino understand straight Tagalog all over the country with the stubborn dialects we’ve managed over the years?

But hey, if this is the popular – maybe we should just follow. After all the impeachment court is there for the popular and not the rule of law. Media has celebrated its on-going procedures on all broadcast formats with print not far behind.

There is no alternative news about our economics, the rising prices of fuel, the increased and unbearable cost of living with prices never ceasing to spiral upward. Taxes have been inadvertently increased with road tax on toll now on the vat.

While there were presentations for the Private Public Partnership/PPP we are still in the dark as to its reality. Pump priming of the economy was been way laid the past year causing a severe drop in our GDP with no solutions in sight.

Natural calamities have overtaken the south with inept local government management causing death in the thousands and yet we listen with intent to the proceedings that will not necessarily improve our lives.

I can’t help but promote what our priorities should be, such like sustainable food supply, new energy infrastructure projects to

SUPERBRANDING

HARRY TAMBUATCO augment our high cost of electricity, yes the environment, professional and effective crisis management and not the risk reduction team forever reactive and never proactive. We are a country of excuses forever rationalizing our deficiencies’.

What we need is professional management even for our traffic and everyday management of our roads.

Garbage to date has not been resolved, only tucked away somewhere hoping media does not make a story of it.

We need to realize our President cannot do it all by himself. He needs our help and our support to address the corruption and ineptness of government that has metastasized over decades. It’s bad enough we have corruption but it is further aggravated with incompetence. The worst combination of any kind!

ited. The Dragon is a beautiful creature, colorful and flamboyant. An extroverted bundle of energy, gifted and irrepressible, everything Dragons do is on a grand scale - big ideas and extreme ambitions. However, this behavior is natural and isn’t meant for show. Because they are confident, fearless in the face of challenge, they are almost inevitably successful.

People born in the Year of the Dragon usually make it to the top. But, they must be aware of that too much enthusiasm can leave them tired and unfulfilled. They find pleasure in helping others, and you can always count on their help.

Even though they are willing to assist when necessary, their pride can often impede them from accepting the same kind of help from others. Their generous personalities give them the ability to attract friends, but they can be rather solitary people at heart. Their self-sufficiency can mean that they have no need for close bonds with other people.

Dragon people tend to take thrilling risks, and burn the candle at both ends so they are fortunate to be blessed with good health. However,

Gas...

Corp.Board

8 January 23-26, 2012 Message With the legal and policy frameworks firmly in place, our newly-transformed organization, the Tourism Infrastructure and Enterprise Zone Authority (TIEZA), moves to the forefront of the efforts to fully develop the country’s tourism industry.

The Philippines, consisting of more than 7,107 islands teeming with natural resources in a tropical setting with culture enriched by Asian and Western influences and a history gloriously marked by heroic feats, is in a position to become one of the world’s top tourist destinations. This is our vision.

We shall accomplish that vision by strengthening public-private partnership, forging closer relationship with local Government Units (LGUs), and by working hand in hand with the industry stakeholders who are now represented in the TIEZA’s Board of Directors. We shall encourage local and foreign investments in our tourism industry through the establishment of Tourism Enterprise Zones (TEZs) in strategic areas of the country.

In this age of globalization marked by tough competition, we can only thrive by adopting a culture of excellence. We shall nourish the best qualities of our workforce, encourage creativity and innovation, and build an organization that’s stands on the pillars of integrity, diligence, and competence.

Even in the wake of the global economic crisis, the prospects for the tourism industry remain bright as ever. By asserting our role as one of the agencies of government under the Department of Tourism, I have no doubt that we could effectively contribute to the national thrust to make tourism as an engine of socioeconomic growth.

The challenges are daunting as they are exciting. Among others, critical issues such as competitiveness, environmental protection and sustainability, have to be addressed. We also need to ensure that the industry’s economic gains shall impact on the improvement of the quality of life of our people, especially those in depressed areas.

I am fully confident that, if we put our acts together with a clear vision and a deep sense of mission, we will succeed.

MARK T. LAPID Chief Operating Officer

OUTSTANDING ENTREPRENEURS & BUSINESS LEADERS AWARDS 2012 Parasat Cable TV is Mindanao’s only Digital Television system provider, The headquarters of the company is located at Cruz Taal Street, Cagayan de Oro City.

Parasat Cable TV, Inc. started as an electronics retail store and repair shop established by Elpidio M. Paras. In 1991, Paras established Parasat Cable TV, Inc. To date, Parasat Cable TV has coverage in the following areas: entire Cagayan de Oro City, municipalities of Opol and Tagoloan. It has established branches in Malaybalay and San Carlos. It has also formed partnerships with other cable operators in Gingoog City and the municipalities of Balingasag, Don Carlos and Valencia, Bukidnon. It is continuously expanding its coverage to the east and west sides of Misamis Oriental.

Parasat’s Mission • To strengthen our current market leadership in our service area as the premier cable TV operator and broadband service

Join the Search!!!

p Mindanao Entrepreneurs & Outstanding Business Leaders & Outstanding Business Awards 2012 Leaders Awards 2012

MINDANAO ENTREPRENEURS & OUTSTANDING BUSINESS LEADERS

NOMINATION FORM Full Name/Title of Nominee________________________________________________ (Official Name of Individual or Company)

Business Address: ________________________________________________________

Tel. No.__________ Email ____________ Web Site:______________ Awards Category : ________________________________________________________

Agri-business Banking & Finance Alternative Energy Dev’t - Health/ Food Production & Marketing Housing & Realty Dev’t Cooperatives & Coop Insurance Hotel/Resorts & Tourism Dev’t.

Full Name of Endorser_____________________________________________________ Address/ Tel. No./ Email___________________________________________________ Attach the following: (1) Official Letter of Endorsement; (2) Photos (1 passport size/ pics of establishment bldg/area) (3) Short History (500 words) (4) Documentary Evidence ( Photo copies of citations/ certificates, awards) (5) Biodata or resume

The AWARDS SECRETARIAT

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UPDATE : BusinessWeek Mindanao’s Partners

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provider; • To continuously improve all our business processes to achieve a level of excellence that is vastly superior to all others in the industry; • To constantly promote initiative, creativity, innovation and teamwork to achieve the highest level of satisfaction to our customers; • To employ the latest state-of-the-art technology in its business operation; • To have a sizable cashon-hand level and return on investment (ROI) ratio from its business operation; • To maintain a dynamic, humanistic and competitive compensation environment that will attract, retain and motivate excellent personnel.

In Cagayan de Oro, he introduced the concept of putting a TV/VCR in restaurants, showing the latest sports and boxing championships, way before cable TV became a common fixture in every home.

In 1985, Engr. Paras

started manufacturing satellite dishes until finally in 1986 his satellite receiving system was able to capture the EDSA Revolution, which was being beamed for the first time worldwide by CNN. This provided Cagayanons the first glimpse of the media revolution wherein live events can now be beamed across the globe in real time.

He then started building bigger dishes to capture the very weak signals beamed by the early Intelsat series. In just a matter of three years, rich businessmen and entrepreneurs from all over the Philippines began ordering satellite dishes from Engr. Paras.

In 1989 thru and Executive Order 205 signed by the Pres. Cory Aquino, the cable industry was deregulated. It was this year when the cable operators fledged. Cable operators all over the country started to order satellite dishes from Engr. Paras. Among the first cable operators to order was Sen, Ramon Magsaysay, Jr. the senator’s

cable operation covered the provinces of Olongapo, Bicol and Batangas.

In 1991, with an initial investment of P200,000 Engr. Paras established Parasat Cable TV, Inc. it was (and still is) the forerunner of cable TV in Mindanao. Parasat Cable started its operation at the backyard of the residence of Engr. Paras with less than 10 employees, mostly fresh graduates and on-the-job trainees from technical schools.

It began by installing cable lines in the subdivision where they were located, offering only 12 channels. It has since expanded its coverage in Cagayan de Oro City and nearby municipalities.

Parasat also acquire cable companies nearby areas.

Parasat Cable carries most of the major programs available for cable viewing. Among the programs currently being carried are CNN, ESPN, STA, HBO, CINEMAX, ANC, VIVA, PINOY BLOCKBUSTER and a number of national and international programs.

TOURISM INFRASTRUCTURE & ENTERPRISE ZONE AUTHORITY(TIEZA) REPUBLIC Act No. 9593 or “The Tourism Act of 2009” declares a national policy for tourism as an engine of investment, employment, growth and national development, and strengthening the Department of Tourism and its attached agencies to effectively and efficiently implement that policy, and appropriating fund thereof.

The Act supports the establishment of Tourism Enterprise Zones (TEZs) which will contribute to the accelerated creation of employment opportunities by encouraging and supporting investments in the development and operation of these zones.

These TEZs will be the centers of tourism development in the country and are created with the objective of providing the necessary vehicle to coordinate actions of the public and private sectors to address development barriers, attract and focus investment on specific geographical areas and upgrade product and service quality.

The Tourism Infrastructure and Enterprise

Zone Authority or TIEZA (formerly Philippine Tourism Authority), an attached agency to the Department of Tourism, is mandated to designate, regulate and supervise the TEZs established under this Act, as well as develop, manage and supervise tourism infrastructure projects in the country. It shall supervise and regulate the cultural, economic and environmentally sustainable development of TEZs toward the primary objective of encouraging investments therein.

The TIEZA will be governed and its powers exercised by a Board of Directors (TIEZA Board) composed of The Department Secretary, The TIEZA Chief Operating Officer, The Tourism Promotion Board Chief Operating Officer, the Department of Public Work and Highways Secretary, the Department of Environmental and Natural Resources Secretary, the Department of Internal and Local Government Secretary, and five (5) representative directors that will be recommended by the Tourism Congress.

BusinessWeek MINDANAO

Congress.Watch

January 23-26, 2012

9

Abad’s wife scored for sitting on bills amending Oil Deregulation Law MEMBERS of the House of Representatives have criticized House energy committee chairman, Batanes Rep. Henedina Abad, for not taking up a package of bills seeking to amend, if not repeal, the Oil Deregulation Law which has been the subject of criticisms for failing to spark competition among oil firms and importers that would have controlled the skyrocketing cost of petroleum products.

Records reveal the committee has at least eight pending measures filed by opposition and administration congressmen, two of them filed a few weeks after the 15th Congress opened in 2010.

Bills filed by Representatives Rufus Rodriguez (Cagayan de Oro City), Joseph Victor “JV” Ejercito (San Juan City) and RODRIGUEZ Teodoro Casiño (Bayan Muna party list) called for put an end to cartel pricing Rep. Rafael Mariano filed House Bill 4317 seeking to amendments to the law as of oil products.

Anakpawis party-list repeal Republic Act 8479 they noted that it failed to

Supply...

from page 1 said the deal would help stabilize the dwindling power supply in Mindanao.

The regulator also approved rates of P0.14864 per kilowatthour for the power supply agreement which was approved on Jan. 3.

The National Power Corporation (Napocor) previously supplied Zamsureco’s energy requirements but the contract expired on Aug. 25, 2011.

“Mindanao is currently experiencing rotating brownouts as portions of these available capacities are allocated to meet the reserved requirements of Mindanao transmission system, [thus this power supply agreement is needed,” said Aboitiz Power and Zamsureco in a joint statement.

Napocor “cannot commit to supply the total contracted levels,” the companies said.

The Energy department earlier noted that despite a power reserve shortage in Mindanao, electric cooperatives have not sourced supply from the more expensive power barges which

Shares...

from page 5 beginning January 26 until February 22, Right Total will undertake a mandatory tender offer for shares of [Steniel Manufacturing] constituting 27.92% of the issued and outstanding capital stock of the Company,” the disclosure read.

A tender offer is defined as purchase of all or some of a stockholder’s shares in a corporation, at a price usually at a premium to the market price.

At present, Steniel (Netherlands) owns 72.08% of Steniel

Pag-IBIG... from page 4

ment units which provides for making Pag-IBIG registration a pre-requisite to securing or renewing a business permit.

“We, however, recognize that some employers are unable to register with the Fund due to the accumulation of penalties on

have an aggregate capacity of 200 MW. The National Grid Corporation of the Philippines contracted 100 MW of the power barge’s capacity to be used as ancillary power.

Power barge 118 is stationed in Compostela Valley province while power barge 117 is moored at Nasipit, Agusan del Norte.

Therma Marine won the bidding for power barges 117 ($16 million) and 118 ($14 million) in Mindanao in March and February 2010. The company is a subsidiary of Aboitiz Power Corp.

For the nine-month period ending September, consolidated net income of Aboitiz Power fell 12% to P16.2 billion from the P18.5 billion due to the decline in the selling price of energy and a one time loss from dollar-denominated loans.

Its core net income went down 14% to P15.6 billion.

Aboitiz Power’s power generation logged a net income of P15.3 billion in the period ending September due to “lower average selling price and net generation recorded for the period.

Meanwhile, the Department

of Energy (DoE) is studying the possibility of compelling electric cooperatives and distribution utilities to buy power from more expensive sources, an official told reporters in an interview yesterday.

Mindanao does not have reserve power as power plants in the area are currently under maintenance.

“We are studying options and if I have to, I will issue a department circular which will hopefully be effective,” Energy Secretary Jose Rene D. Almendras said.

Mindanao had a peak demand of 1,255 MW and an available capacity of 1,190 MW as of Thursday last week.

It had no reserve power.

Almendras said the reserve shortage is due to power plants in Mindanao undergoing a maintenance cycle.

The Energy department, however, insisted there was still enough generation capacity in the region.

Mindanao experienced power shortages in 2010 after hydroelectric power plants had to be shut down due to low water supply.—with wire reports

Manufacturing’s shares, the company said.

Further details were unavailable as Steniel Manufacturing officials were not immediately available for comment on the mandatory tender offer.

Steniel Manufacturing was incorporated in 1963, and is engaged in the manufacture of industrial packaging materials.

The Cavite-based firm earns from the sale of corrugated boards and boxes, as well as rental income from certain properties leased to third parties, with custom-

ers comprising of companies in various industries such as agriculture, food, beverage, and other consumer goods.

The company narrowed its nine-month net loss to P56,554 last year, from P79,312 in 2010, while total revenues for the same period fell by 13.28% to P418,625 from P482,378 year-on-year.

Steniel Manufacturing shares were suspended after the company entered rehabilitation proceedings. The company’s shares were last traded on July 5, 2006 at 26 centavos apiece.

uncollected and unremitted contributions,” the Pag-IBIG CEO added. “ Thus, Pag-IBIG is implementing a penalty condonation program for unregistered or delinquent employers beginning January 2 until June 30, 2012 only.”

Since the program will only run for a limited period, Berberabe encourages

employers who have yet to register with the Fund to take advantage of this program.

“After June 30, we have no other recourse but to file cases against unregistered employers as part of the Fund’s Intensified Membership Enforcement and Collection Campaign (IMECC),” the CEO cautioned.

(Downstream Oil Industry Deregulation Law) while Antipolo Rep. Romeo Acop called for transparency in the pricing of oil product when he filed HB 4893.

HB 5483 filed by Bacolod City Rep. Anthony Golez mandated the regular calibration of gasoline pumps to preclude irregularities.

Senior Deputy Minority Leader Danilo Suarez filed House Resolution 0011 that called for an investigation into the alleged non-compliance of an oil company to the provisions of RA 8479.

He said it is the duty of Abad, wife of key Aquino administration adviser and Budget Secretary Florencio Abad, to schedule immediately the hearings in view of the urgency of drawing up new policies that would address the oil price increases.

Acop said current developments in the oil industry call for swift action to his bill which provides greater transparency in the computa-

tion of prices of oil products.

He vowed to make inquiries from the committee secretariat to find out the reasons behind the nonscheduling of public hearings.

For his part, Mariano criticized President Aquino for failing to act on the successive and unwarranted oil price adjustments, describing him as the top patron of local oil firms.

“Malacañang’s inaction on the overpricing and profiteering of oil companies deserves the strongest condemnation from affected sectors, united in opposing these weekly spate of oil price hikes,” he stressed.

Mariano said the unabated oil price increases cannot go on forever as he dared the Aquino government to exercise strong political to stop the excessive price adjustments. He called on Abad to start the hearings on the proposed measures with regards to the oil deregulation law as soon as

Congress resumes session next week.

“A review of the deregulation law is not enough. We need to discard and overturn the national policy of oil deregulation that granted full control of the oil industry to private oil companies,” Mariano said.

Meanwhile, Zambales Rep. Mitos Magsaysay renewed her call for the review of her bid to reduce the VAT on oil products to address the skyrocketing prices of oil in the world market spurred by the worsening conflicts in the Middle East.

Magsaysay said the government could review the temporary cutback in the collection of VAT, a tax imposed on goods and services that can be directly passed on to the consumers, instead of focusing on the Pantawid Pasada subsidy program of the government for public utility vehicles (PUVs), which only benefit a small part of the entire sector.

‘Red alert’ in Mindanao amid power blackouts MINDANAO is now on “red alert” due to a power shortage, while Luzon will need more power generators in the next three years as a result of rising demand and the increasing population, Energy Secretary Jose Almendras said last week.

He said Mindanao’s power reserves dropped to zero on Tuesday, when the peak demand reached 1,236 megawatts but the available supply reached only 1,215 megawatts.

The power distributors on the island were forced to hold back on their load, and that resulted in blackouts in some areas. Tuesday’s power shortage reached as much as 150 megawatts, Almendras said.

He appealed to stakeholders to help avert a power shortage in Luzon by boost-

ing the supply of electricity in the provinces, towns and cities.

“We are appealing to various stakeholders and to [local government units] [to create] power generator facilities as the demand for electricity is increasing,” Almendras said.

“We need at least 600 megawatts for 2013 and 2014 for Luzon alone,” he said.

The Luzon grid would need at least 300 megawatts more to meet the rising demand for electricity and another 400 megawatts by 2016.

Almendras said he would soon present to the National Economic and Development Authority his department’s plan to redress the power shortage in Mindanao.

Those would include the

upgrading or rehabilitation of hydroelectric plants and the transfer of some power barges to the areas needing them, he said.

Cagayan de Oro Rep. Rufus Rodgriguez, vice chairman of the House’s energy committee, said some sectors might have been orchestrating moves to delay action on some power supply contracts to increase pressure on the government to privatize state-owned electric power barges so those barges could be moved to Mindanao.

“Powerful and influential people are pushing [to privatize the barges],” Rodriguez said.

“I warn them that this won’t be good for consumers at it will mean higher electricity rates.”

Project...

chair of the Regional Development Council (RDC)XI, cited the importance of achieving stronger alignment in planning, investment programming, and budgeting, and the active involvement of the local government units in aligning

the PPAs with their respective Provincial Development and Investment Programs (PDIPs).

She said the activity was necessary for the Davao region to achieve its desired vision of becoming the country’s Rising Global Frontier.

from page 2

program thrusts and priorities of the national agencies in the Davao region with the thrusts and programs of the province.

Lim, who is also vice-

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10 January 23-26, 2012

Aggie News

BusinessWeek

MINDANAO

DA provides farm inputs to Agusan del Sur

According to a report presented by Yasmin Reyes of PAO, they received some 21,300 kilos of Zinc Sulfate fertilizer amounting to some P1,034,410, and another 5,000 liters of organic liquid fertilizer amounting to P625,000.

PAO also received some 3,740 bags of certified rice seeds from DA as part of Alcala’s commitment amounting to P4,488,000.

“For certified rice seeds, we budgeted one bag per hectare and as per our inventory, most affected areas

all over the province of Agusan del Sur totalled to 3,740 hectares, where we also delivered the same figure of bags to farmer recipients,” Reyes said.

She added that for the fertilizer there were two batches. The first batch of 10,000 kilos of fertilizer was delivered to the 13 municipalities and the lone city of Bayugan. For the second batch, 11,300 kilos were distributed to the same municipalities.

On January 3, 2011, the whole Caraga Region was

hit by floods, and one of the most affected was this province, leaving nine persons dead, with 32,598 families or 160,439 persons affected.

But another similar calamity came along after 26 days, hitting old and new victims. Although lesser families (20,926 or 110,489 persons) compared to the January 3 floods were affected, another millions of peso damages to agriculture and infrastructures were recorded, reaching up to more than P95 million.

This prompted Alcala to visit and evaluate the damages brought by floods, bringing along with him some P8 million worth of farm materials which he turned over to Gov. Plaza upon his arrival and pledged farm inputs that the PAO received recently, in order that farmers can recover immediately. (PIA-Caraga)

House...

cies to Globe-Innove. He said that from Oct. 1, 2009 to Dec. 31, 2010, Globe-Innove paid P160M to Altimax for said lease when the money should have been paid as spectrum user’s fees to the government.

“The effect of this (NTC’s actions) is that Altimax is being rewarded, instead of being punished, for failing to roll-out its promised network.

Meanwhile, Globe-Innove gets to illegally hog and use frequencies reserved for radio and TV,” he said in his speech.

“Not only that. Globe is cheating the government of millions in spectrum users fees when it leases from Altimax radio broadcasting frequencies at a cost much much lower than what it would have to pay if it paid the proper fees for broadband frequencies, not to mention the additional profits that it makes from Altimax itself, of which it owns something like a third. At the minimum, the P160M that Globe paid

Altimax should have went to the government in the form of users fees for these frequencies.

Casino stated further in his speech: “… we cannot tolerate such shenanigans. I smell big money. I smell a crooked deal.

I smell corruption. And right smack in the middle is Globe Telecom, that owns and uses Altimax, and crooked officials of the NTC.” Casino said the deal is all irregular. He urged Congress to investigate the matter immediately. “We simply cannot allow such a circumvention and abuse of the franchises we have granted both to Globe Telecom and Altimax. At the very least, this act requires Globe to pay the right fees and charges to the government, plus penalties. Second, the agreement entered into by Globe with Altimax should be scrapped. And third, Altimax’s franchise should be immediately revoked” Casiño said in his speech.

By DAVID M. SUYAO. Contributor

A

GUSAN del Sur -- The Provincial Agriculture Office (PAO) recently received farm inputs from the Department of Agriculture (DA) as promised by Sec. Proceso Alcala during his visit here, after the January and February 2011 floods that claimed millions of pesos damaged both lives and properties.

DavOr gives additional value to coco products

By MAI GEVERA-MACAPAGAT Contributor

DAVAO City -- The coconut capital of Mindanao, Davao Oriental, cannot just forever stay as a copra capital. Industry leaders and even farmers felt that there is more to coconut rather it being a copra product.

Farmers were challenged and thought of alternatives after copra prices dropped to a record low of P5.00 per kilo in 2006.

Coco by-product processing plants then started to crop up in the province. Farmers researched about coco coir and peat products as these had high demand in the export market.

Resulting from the 1st National Coco Coir Summit in March 2011, coir processing plants started to operate all over the province where baled coir fibers are being produced and sold to institutional buyers and exporters in Davao and Manila.

Davao Oriental Trade and Industry head Belenda Ambi said many family members of the coconut farmers have benefited from the additional value of the said crop. Processed coco coir fibers are made into twines and geo-nets that were exported in China and other countries abroad.

One of the initiatives of DTI Davao Oriental was the Coco Coir Twining Project which served as a convergence of various services needs to complete the entire process of coir processing.

Acting as the consolidator of twine hanks is the Mati Cocofiber Technology (MCT).

It then provides coir fibers to two twining communities in Maitom and Calamansi.

These coco fibers or twine hanks are then bought by Regwill Industries Inc. Through the facilitation of DTI, the Regwill Industries provided the needed trainings on hanks twining and weaving to the farmers and

their family members.

Seeing the importance of convergence that is initiated by a government office, other communities have started embracing this new livelihood.

Data showed that there are already seven twining communities assisted by DTI in the said province. The office has also recorded about 169 coco twine weavers who have alleviated their income from twine weaving.

DTI then reported $2.529 million sales in coco coir and peat production. This contributes as 85 percent of the total $2.975 million export sales for the year.

There are five major industry players in the province that have contributed to the generated export sales of coco value added product. These companies are the Mati Cocofiber Technology, Mati Peat Top Corporation, Fiber Technology Expert, the Yiwu Husk Factory and the Davao Oriental Coco Husk Social Enterprise Inc.

from page 1

despite violating the conditions of its franchise for nine years. He also accused the NTC of allowing Altimax to enter into an illegal agreement to lease its broadcast frequencies to telecommunications giant Globe-Innove when its franchise was for it to build TV and radio networks.

“How can an obviously fictitious broadcasting company flagrantly violate its franchise and its provisional authorities for six years, SIX YEARS, and yet be allowed by the NTC to still operate another three years? Masyado naman silang sinusuwerte!” said Casiño.

Casiño said that instead of building its TV and radio networks, Altimax merely leased the use of its frequen-

REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th JUDICIAL REGION CAGAYAN DE ORO CITY OFFICE OF THE PROVINCIAL SHERIFF

SHERIFF’S NOTICE OF SALE FILE NO.2011-696 Upon extra –judicial petition for sale under act no.3135,as amended by act no. 4118, filed by BALIKATAN PROPERTY HOLDINGS, INC., mortgagee/ assignee, with business address located at 24th floor, BFI Buendia center, sen. Gil puyat avenue, Makati city, against SPS. ARTURO H. LABRADOR AND ELIZABETH P. LABRADOR, with postal addresses at camp philipps manolo fortich , bukidnon and lot 10 BLK. 7ph. 1, MEGA HEIGHTS SUBD., BRGY. GUSA, CAGAYAN DE ORO CITY, MISAMIS ORIENTAL, the mortgagor/s , to satisfy the mortgage indebtedness which as of September 19,2011 , amounts to PESOS; Three hundred six Thousand Two Hundred Fifty Pesos (PhP306,250.00) including interest , penalties and charges, court fees, attorney’s fees and expenses of foreclosure, the undersigned will sell at public auction on_ January 16, 2012 10: am or soon thereafter at Regional Tria Court, br. Regional Trial Court, Hall of justice . Cagayan de oro city, to the highest bidder for cash or manager check and in Philippine currency, the following real property/ies, with all the improvements thereon, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-80311 A PARCEL OF LAND (Lot 10 block 7, psd-10-015315, being a portion of lot 2291- C, psd-10-015287), situated in the barrio of gusa, city of cag. De oro Island of Mindanao. Bounded on the SE., along line 3-4by road lot 5, on the SW ., along line 4-1 by lot 12, on the NW ., along line 1-2 by lot 9, on the NE. along line 2-3 by lot 8, all of all of block 7, of the suvdivision plan. Plan psd -10-015315.xxx containing an area of one hundred (100) square meters more or less.

ALL sealed bids must be submitted to the undersigned on the abovestated date, time and place. In the event the public auction should not take place on the said date for whatever reason. The same will proceed on the following working day, without further notice , posting and publication.

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

Cagayan de oro city,November 28,2011

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BusinessWeek MINDANAO

Food& Food &Lifestyle

Home cooking for healthy well-being WITH most people foregoing home-cooked meals for fast-foods lunches and dinners, it is still any wonder why a lot of people are getting sick and fat?

It is maybe because busy schedules make fast food more appealing than homecooked meals. But this kind of eating practice takes a significant toll on a person’s overall well-being.

Studies show that fast food meals usually contain high sodium, saturated fat, and calorie content, causing obesity and other health diseases.

As a way to promote the healthy lifestyle, we would like to share with you some

of the Del Monte recipes which is easy-to-cook dishes which aren’t only healthy and delicious, but which were perfect for busy men and women.

We feature the TunaPiña ala Pobre which it will take only 45 minutes to prepare. You can use Tangigue or other tuna fish of your choice. So tasty and a little bit tangy.

On other side, Callos de Piña menu is good for family gatherings. You can never be felt unappreciated as a cook with those kinds of dishes, which are also very appealing to the kids. I am sure they are going to love your cooking even more

Tuna-Piña a la Pobre Ingredients: 600 g (8 slices) fresh tuna steaks 12 cloves garlic, crushed 150 g kamias 1 can (234 g) DEL MONTE Fresh Cut sliced Pineapple, drained (reserve syrup) 1 tbsp flour, dissolved in 1 tbsp water 1 tsp liquid seasoning banana leaves Procedures: 1. Rub fish with half of garlic then sprinkle with 1 tsp iodized fine salt (or 1 tbsp iodized rock salt) and 1/8 tsp pepper. Set aside.

2. Line casserole with banana leaves to cover bottom and sides. Arrange kamias at the bottom with fish on top. Add pineapple syrup.

Cover and simmer over low heat for 2 minutes or until partially cooked.

Remove fish, reserve drippings.

3. Heat 3 tbsp oil in frying pan and saute remaining

garlic until light brown.

Set aside. In the same pan, grill fish until golden brown, then grill DEL MONTE Fresh Cut Sliced Pineapple. Arrange on a platter.

4. Combine fish drippings, flour,1-1/2 tsp soy sauce liquid seasoning and dash of pepper. Simmer until thick. Add 2 tsp of fried garlic. Pour over fish and pineapple.

Top with garlic.

Makes 8 Servings

with this kind of recipes.

Do try it today!

Those who want to eat healthy need only to look back to their kitchen, and begin cooking their own meals using nutrient-rich ingredients of Del Monte such as pineapple and tomato sauce.

Lycopene is a natural substance in tomatoes that may reduce the risks of heart attack and certain cancers.

Phytochemicals-are substances that are naturally found in fruits, 100% fruit juices, and vegetables. Substance may help reduce the risks of certain cancers.

So get your daily dose of

LIFE & Leisure

11

HOTELS RESTAURANTS Pryce Plaza Hotel

Carmen Hill, CDO, Tel. No.722791 to93/858-4537 E-mail:reservaƟons@pryceplaza.ph

Hotel Koresco

Pueblo de Oro Golf Course,CDO, fax. No. [088] 858-9748

tel. Nos. 858-9748 to 54, E-mail:hotelkoresco@yahoo.com

Mallberry Suites

Limketkai Drive ,CDO, Tel. No. [088]854-3999 / 854-7999 E-mail:info@mallberrysuites.com

RIZA O. ARES, HRM

phytochemicals by eating lots of fruit, fruit juices and vegetables.

We would like also to share some cooking tips.

Tips 1. A d d c o r n s t a r c h t o marinade to make it stick better.

2. Use tomato juice to tenderize and add flavor to meat. This may also reduce the risks of certain cancers by preventing the formation of cancercausing substances when cooking at high temperatures, like grilling or barbecuing.

3. Drain pasta quickly and use immediately. Do not rinse pasta in cold water unless it will be serve cold. The cool splash removes surface starch, which helps the sauce hold on or cling to the pasta.

4. Canned or processed tomatoes can be used to tenderize tough cuts of meat. The acid in the tomatoes helps break down tough meat fibers.

5. Soak pork heart in lightly salted water for an hour

January 23-26, 2012

after a thorough washing to clean out any blood deposits.

6. Add a little vinegar instead of salt to cooking water for pasta. This will reduce your sodium intake.

7. Make sure to cook pasta “al dente”,meaning to the tooth”. Just follow the cooking instructions on the package. Overcooked pasta becomes soggy and absorbs too much sauce.

8. Soaking hard beans or legumes (like mongo, kidney, or white beans) in water overnight shortens cooking time.

9. To get a more delicate onion flavor in meatballs or meatloaf, sauté the minced onion before adding it to the meat.

10. Bake bread until completely dry and lightly brown to make dry breadcrumbs. Place them in a plastic or polyethylene bag and crush with rolling pin

Dynasty Court Hotel

Tiano-Hayes Sts. CDO, Tel. No. 726876 / 726962 / 857-5410 E-mail:dynasty@philcom.ph

The Marigold Hotel Velez cor. Luna Sts, CDO Tel Nos. 856-4320, 726937

Marco Resort Tel. No. 732182 / 855-220

VIP Hotel

A.Velez St. CDO, Tel. No. 726080 / 726590 / 856-2505 E-mail: info@theviphotel.com.ph

Philtown Hotel

Makahambus-Velez St. CDO,Tel. No. 723089 / 856-1813

De Luxe Hotel

Capt. V. Roa St. CDO, Tel. No. 726527 /857-2144

Maxandrea Hotel

J.R. Borja St. CDO, Tel. No. 729943/ 857-2244 / 857-4154

Grand City Hotel

A.Velez- Sts. CDO Tel. No. 723551 / 723658 / 857-1900

Country Village Hotel

Carmen, Cag. de Oro Tel. No. 71-22-03, 71-22-01, 7122-05

Southwinds Hotel

Capt. V. Roa Sts.CDO,Tel. No. 727623 / 724803 / 856-2036 E-mail:i_agudo@hotmail.com

Apple Tree Resort and Hotel

Taboc, Opol, Misamis Oriental, Tel. Nos. 754525/ 754263/ 3091986, Fax No. (8822) 754497

Pearlmont Inn

Limketkai,Drive,CDO Tel. No. 729111 / 856-2654 / 729455

Red Palm Inn

EVChaves Building, Capistrano corner Cruz Taal Sts. Cagayan de Oro City Tel. No. 721197 and 8562671 Cell No. 0908-885-5643 Email: redpalm_inn07@yahoo.com

Chali Beach Resort

Cugman,CDO,Tel. No. 723929 / 855-2108 E-mail:chali_beach@yahoo.com

Nature Pensionne

Toribio Chavez Sts., CDO Tel. No. 723598 / 723718 / 857-2274

Beef Pine Curry

NEW DAWN PENSIONNE Velez-Macahambus Sts, CDO Tel Nos. 8571776, 721776 email : gchreservaƟon@yahoo.com

350 g beef flank (camto), cut up 1 can (234 g) DEL MONTE Fresh Cut Pineapple Chunks, drained (reserve syrup) 1 tbsp dilao (turmeric) strips 4 cloves garlic, crushed 1 pc medium white onion, sliced 1 tsp ginger strips 1 tsp curry powder 200 g potato, cut into chunks 1/2 cup thick coconut milk 1 pc medium red bell pepper, cut into strips 1/2-1 stalk wansuy, chopped

Malasag Eco Tourism Villages Cugman, CDO Tel. No.855-6183 [088]309-3752

1. Marinate beef in pineapple syrup, 1 tsp iodized fine salt (or 1 tbsp iodized rock salt) and dilao for 30 minutes. Drain, reserve marinade.

2. Saute garlic, onion, ginger, curry powder and beef for 5 minutes.

Add 1 to1 -1/2 cups water and marinade. Cover and simmer over low heat for 1 hour or until tender.

Add potatoes. Simmer until cooked.

3. Add coconut milk, bell pepper and wansuy. Simmer for 3 minutes. Add DEL MONTE Fresh Cut Pineapple Chunks.

Allow to simmer.

Makes 6 Servings

CAGAYAN DE ORO MAIN BRANCH P & J Lim Bldg., Tiano Brothers – Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES BRANCH Corrales Ave., Cagayan de Oro City DIVISORIA BRANCH AƩy. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739a

LOT FOR SALE BEACH HOUSE

Baloy, Cagayan de Oro City

By appointment only Tel. #: (088) 855 3898