BUSINESSWEEK MINDANAO AUGUST 13,2012

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BusinessWeek

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www.businessweekmindanao.com Issue No. 98, Volume III • August 13-16, 2012

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Briefly Urban settlers ordered to pay P355T rental By Ben D. Arche DAVAO City – A court here has released an order urging former settlers of a private property in Soliman, Barangay Kapitan Tomas Monteverde Sr., Agdao District this city. The settlers were evicted from the property owned by the Davao Enterprise Corporation (Davencor) through a disputed demolition last year. Regional Trial Court (RTC) Branch 16 Presiding Judge Emmanuel Carpio ruled out favoring the decision earlier pegged by the Municipal Trial Court of Cities Branch 6 here mandating the settlers to pay their monthly rental to Davencor. Davencor claimed that each settler will pay a monthly rental of P5,000 as agreed upon before the entry. The settlers started to settle down in December 2006 and they were ejected last year. Based on the court decision, the settlers resided in the property for about 68 months at P5,000 per month. The court hence ordered that each settler will pay at least P353,000 to Davencor for their unpaid monthly rental.

Farmer-paralegals join hands with DAR-North Bukidnon MALAYBALAY CITY -- Twenty farmer-paralegals from this City and Sumilao are set to work hand in hand with the Department of Agrarian Reform particularly in North Bukidnon to distribute the identified problematic landholdings in the two aformentioned areas. The farmers underwent a four-month course (from Feb. 27 to June 15, 2012) dubbed Paralegal Training on Agrarian Reform Laws/ Policies, Human Rights and Skills Enhancement on Agrarian Reform Implementation. The training involved various aspects of agrarian reform and other related laws such as the qualifications and selection of beneficiaries, and the process of land acquisition and distribution (LAD) as provided in new DAR issuances. The trainees were also provided with adequate funda-

FARMER/PAGE 10

By APIPA P. BAGUMBARAN Contributor

C

AGAYAN DE ORO CITY-The Department of Energ y (DOE) has appealed to local government units (LGUs) to help curb illegal practices in the liquefied petroleum gas (LPG) industry.

LGUs should take a strong public position on its support to stop illegal activities in the LPG industry, said Nilo Geroche of the DOE Mindanao Field Office during the Multi-Sectoral Advocacy Campaign on Downstream Oil Industry held yesterday, August 8, at N Hotel, this city. He said the LPG industry is marred by unsafe LPG/PAGE 10

DOE downstream oil industry forum held in Oro Zenaida Monsada, director of the oil industry management bureau of the DOE, briefed participants of today's multi-sectoral forum on downstream oil industry (DOI) and cited the salient features of the Oil Deregulation Law. The advocacy campaign was held in N Hotel, Cagayan De Oro City, today, to assist concerned agencies and the liquid petroleum products and LPG companies in the formulation of policies, plans and programs related to the industry. PIA 10

Globe cash dividend payments to reach P8.6 bln by 3Q 2012 TOTAL cash dividend payments of leading telecommunications company Globe Telecom will reach P8.6 billion by September this year, representing about 86% of its 2011 core net income. Globe Telecom’s Board of Directors recently approved the declaration of the second semi-annual cash dividend of P32.50 per common share payable on September 18, 2012 to shareholders on record as of August 28, 2012. Last March 16, Globe also issued a cash dividend of P32.50, bringing total cash dividend payments this year to P65 per common share. This year’s payout is also higher by P400 million compared to P8.2 billion dividends in 2011 which was equivalent to 84% of prior year’s net income. “We at Globe take pride

in the company’s consistent performance over the years and in increasing shareholder value. It has always been our aim to provide superior returns to our shareholders and these cash dividends show our commitment to achieving this vision,” said Ernest L. Cu, President and CEO. Earlier, data from Thomson Reuters StarMine showed that Globe was able to offer

the highest dividend yield of 8.3 among 39 stocks in the Philippines. Under the amended Globe dividend policy, shareholders will receive 75% to 90% of prior year’s core net income instead of reported net income. Core net income excludes all foreign exchange and mark-to-market charges, as well as non-recurring items such as accelerated GLOBE/PAGE 10

Hotel, airlines business in R10 slump due to dengue fear By ALLAN MEDIANTE Exec, Editor

CAGAYAN DE ORO CITY -A prominent business leader here told media that the Dengue outbreak problem plaguing this city at present needs to be immediately addressed or the economy will be severely affected. The businessman said that because of the Dengue outbreak, the number of tourists and visitors influx

have declined. Reports, he said, indicated that travellers have shyed away from making this DENGUE/PAGE 10


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