MAY 14,2012 BUSINESSWEEK MINDANAO by BusinessWeek Mindanao

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www.businessweekmindanao.com Issue No. 74, Volume III • May 14-17, 2012

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FOREX

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US$1 = P42.45

5,210.30 points

5 cents

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18.20 points

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Briefly Souvenir shop

ILIGAN City -- Women’s groups from the different barangays here opened a souvenir shop last May 8. Called Iligan Souvenir (Women’s Livelihood and Pasalubong Center), the shop is a brainchild of City Councilor Michelle Sweet, chairman on the Committee on Women, the Iligan City Council of Women and other offices of the city government. It sells products of various livelihood projects of these women’s group and is located at the first floor of Pilar Building along Cabili Avenue, port area in this city.

Livelihood projects

DAVAO City -- The Department of Agriculture (DA) has earmarked multimillion funds for various livelihood projects to aid farmers, fisherfolk, women and indigenous peoples in Mindanao. The DA’s Mindanao Rural Development Program (DAMRDP) has already spent a total of P388.25 million for its livelihood arm. While, another P345.37 million were downloaded to ongoing projects and those ready for implementation; and a total of P412.30 million for those new projects under preparation by the People’s Organizations (PO) making the overall portfolio of CFAD to approximately P1.3 billion.

Tourism exhibit

TAGUM City -- The provincial government of Davao del Norte has launched an exhibit to promote tourist attractions in the province. The exhibit entitled, “Beat for Summer Heat 2012,” opened on May 4 at the Abreeza Mall in Davao City. Tourist destinations, summer promotions, and products of the province were showcased in the exhibit which will run up to May 22 at the mall’s activity center.

By CARMELITO FRANCISCO, Correspondent

AVAO City -- Banana growers have raised concern on stringent requirements to the entry of Philippine bananas to China which have affected the industry, an official said. Stephen A. Antig, executive director of the Philippine Banana Growers and Exporters Association (PBGEA), said Beijing’s policy has adversely affected

banana exports. Among the requirements starting June 1 are concreting of banana packing plant sites and the installation of mosquito nets on the fruits

to prevent the entry of flies. “We know that our bananas are green and they do not attract fruit flies,” Mr. Antig said. Mr. Antig said about 200 containers of bananas have not been released from Chinese ports since May 7 even as stricter rules are still to take effect in June. “We cannot afford to lose the China market,” he added. BANANA/PAGE 7 Banana packers in Compostela Valley.

Oro lawmakers seek probe on ailing Land Bank By MELANIE RIVERA, Staff Member

CAGAYAN de Oro congressmen have asked Congress to look into the deteriorating financial health of Land Bank of the Philippines (LBP) that lost P471.19 million in loans to cooperatives and countryside financial institutions. Rep. Rufus Rodriguez and Abante Mindanao party-list Rep. Maximo Rodriguez Jr. asked the House Committee on Government Enterprises and Privatization to investigate the 2010 Commission on Audit (COA) report disclosing that Land Bank lost almost half a billion pesos in loans. “The state bank wrote off P471.19 SMALL CATCH. A fisherman ponders over his small catch along the coastline of barangay Lapasan million in loans and that these acin Cagayan de Oro. Industrial wastes have been blamed for the rapid decline of marine life in the counts were classified as uncollectible Macajalar Bay. PHOTO BY GERRY L . GORIT because of the financial difficulties of the borrowers or the borrowers could not be located,” the Cagayan de Oro lawmaker said, in filing House Resolution 2129 along with power problem is already over Almendras admitted that while the By IRENE DOMINGO, Reporter his younger brother. He noted that with the completion of repairs on power situation has improved, it the amount was an 882-percent IF the Department of Energy the Pulangi hydroelectric plant. still remain at a critical level. However, Energy Sec. Jose Rene ORO/PAGE 8 (DoE) is to be believed, Mindanao’s POWER/PAGE 8

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DoE: Mindanao power still ‘critical’

Balay forges ahead in ushering peace, devt By BONG FABE, Correspondent

AS BALAY Mindanao Foundation, Inc. (BMFI) forges ahead in breaking new grounds towards the achievement of peace, equity and development of

Mindanao, it is challenged to always get its direction and sense of purpose from its origin and history. “Quo vadis, Balay Mindanaw?” asked Monsignor Elmer Abacahin, SSJV, during the Eucharistic Celebra-

tion that kicked off the 16th anniversary celebration of BMFI on Tuesday (May 8). Abacahin, who pastored the Immaculate Conception Parish in Barangay Bulua, where BMFI is now headquartered, urged all BMFI

staff and personnel to always remember three things as they continue to “fight” for peace, equity and development of Mindanao: Remembrance, thankfulness and BALAY/PAGE 9

May 14-17, 2012

Economy

BusinessWeek

MINDANAO

DTI to roll out Fiesta Diskwento Caravan By RUBY LEONORA R. BALISTOY, Contributor

MALAYBALAY City -- A Department of Trade and Industry (DTI) official said the agency would hold a “Fiesta Diskwento Caravan” (carnival discount caravan) this May 14 and 15 at the Freedom Park, as Malaybalay City celebrates the feast of San Isidro Labrador, the patron saint of good harvest. Provincial Director Ermedio Abang said the DTI would be staging this event to help consumers avail of goods at discounted prices— especially as school year opens next month.

“The discount caravan will be of great help because it offers different basic products and services marked down by as much as 10% to 50%,” he said. These products include

rice, sugar, cooking oil, fresh vegetables, dairy products, canned goods, hotdog, fruit preserves, chips and pastries. Other products include school supplies, bags, home decors, laundry soap, bath items, and medicines. Famelah Villanueva, DTI public information officer, likewise, said that aside from selling goods at discounted prices, the Fiesta Diskwento Caravan could also serve as a venue for other service-oriented

activities conducted by other government agencies. “The Technical Education and Skills Development Authority’s (TESDA) certified masseurs, for example, would also offer services such as massage and reflexology to the public at only P50,” she said. Currently, DTI records

show that at least eight food manufacturers, local government units and concerned government agencies namely Cagayan de Oro Oil Company, Virginia Foods Inc., Highland Fresh, Bukidnon Sugar Milling Company, National Food Authority, MCFRICI Foods, Glorious Catering,

and Botika ng Barangay, enlisted their participation. DTI, TESDA, Malaybalay City Price Coordinating Council, Malaybalay City Federation of Rural Improvement Club and the Regional Tripartite Wages and Productivity Board will spearhead the big event.

Banana growers hit Malaybalay halt to plantation expansion By CARMELITO FRANCISCO, Correspondent

DAVAO City -- The Pilipino Banana Growers and Exporters Association (PBGEA) is worried over a local law in Malaybalay City, Bukidnon prohibiting the expansion of local banana plantations, arguing this will be detrimental not only to the group’s members, but also to the city’s economy. In a statement issued last week, PBGEA said Malaybalay has some 3,000 hectares of such plantations, comprising 4% of the total commercial-scale banana areas in Mindanao. These supply exportgrade fruit to four of its members, namely Sumifru Philippines Corp.; Unifruitti Philippines, Inc.; DoleStanfilco and Agrinanas Development Co., Inc. The banana exporters’ group claimed plantations in the city have been complying with international agricultural standards and have done their share to protect the environment. “These companies have ISO (International Organization for Standardization) Green certifications accredited by the Rainforest Alliance, which shows that the agricultural practices that they [sic] are doing are sustainable and not harmful to the environment, contrary to what some nongovernment organizations claimed,” the statement quoted Stephen A. Antig, PBGEA executive director, as saying. A Malaybalay City council

Bukidnon’s banana industry continues to expand as demand increases. But local officials express fear the growing industry may harm the agriculture sector as more farms are now converted into banana plantations.

ordinance passed last month imposed a moratorium on the expansion of plantations for fear farming practices used could harm the environment. In justifying the measure, Councilor Anthony C. Barroso, committee on agriculture and environmental protection, said village officials have complained that many farms within the city have been converted into banana plantations. Mr. Barroso said the Malaybalay City Environment and Natural Resources Office has yet to look into the impact of these activities as the companies “have yet to convince us about their flood control and damage control systems.” Another councilor, Roland Deticio, author of a similar proposal, claimed the

ordinance must immediately be implemented even when the study on the impact of the plantations has yet to be completed. Mr. Barroso, however, clarified that the city government is willing to discuss with the companies their position on the issue and must be able to convince the city officials that there is enough basis to their claim that their operations will not damage the environment. If the companies fail to convince the city government, he added, the moratorium would stay. PBGEA’s Mr. Antig also warned the ordinance would stunt the growth of agribusiness in Malaybalay City, whose economy dependent on agriculture. He also argued there is no truth that the banana growers are destroying soil, considering that it is important for them to protect soil quality to sustain high production as well as achieve better quality for their produce. Banana companies, based in this city, have been expanding these past few years to neighboring regions, specifically Central Mindanao and Northern Mindanao. From roughly 30,000 hectares in Davao Region five years ago, the industry now has over 70,000 hectares all over the island that provide exports worth over $800 million each year. Industry estimates have shown that a hectare of banana farm earns as much as half a million pesos annually. The industry also creates two direct jobs, plus three more in indirect employment, for every hectare of plantation developed.

BusinessWeek

MINDANAO

SMC open to delisting Brewery, property units CONGLOMERATE San Miguel Corp. (SMC) is open to voluntarily delisting subsidiar y San Miguel Brewer y Inc. (SMB) should it fail to agree with Japanese partner Kirin Holdings on how to widen the beer maker’s public ownership base and meet the requirements of the Philippine Stock Exchange. In an interview with reporters on Thursday, SMC President Ramon S. Ang added that delisting is also an option for tightly held San Miguel Properties Inc. while food unit San Miguel Pure Foods Co. Inc. is nearing a deal to address its public float deficiency. The PSE requires firms to have a free float level of at least 10 percent or face suspension starting next year and eventual removal or delisting from the exchange. San Miguel Properties, Purefoods and SMB each have a free-float level of below 1 percent but it is SMB, the country’s biggest beer maker, that tends to gain more focus given its current ownership structure. Unlike Purefoods and San Miguel Properties,

which are tightly held by SMC, the brewer y business is 51-percent owned by the diversified conglomerate while Kirin owns about 48 percent. Ang said SMC will not agree to a structure wherein Kirin will gain a majority stake in SMB. “We can agree to [sell] down together,” Ang said, noting that SMC will meet with Kirin by June to get added guidance on how to proceed. “If not, we will go for delisting.” For Purefoods, Ang s ai d SMC i s m ov i ng “closer” to meeting the requirements of the local bourse. “We are in talks to place out the shares,” Ang said, noting that a possible structure would involve a secondary share sale of SMC’s shares to bring Purefoods’ free-float level to 10 percent to 15 percent from the current 0.1 percent. He said the company is reviewing proposals by banks at present. SMB shares closed flat at P29.90 each on Thurs day, leaving its market value at P460.8 billion. Shares of Purefoods and San Miguel Properties did not move at P1,010 each and P 566, respectively.

Companies

May 14-17, 2012

Villar’s Vista Land now PHL’s largest home builder V ISTA Land & Lifescapes Inc. is the Philippines’ biggest property developer in terms of reservation sales, based on a report by Colliers International Philippines Inc. Colliers Philippines said Vista Land, owned by the family of former-senator Manuel Villar Jr., captured 22 percent of over 80,000 units of industry-wide reservation sales, mainly in the middle income market. Colliers said data is based on a market scan of various vertical and hot horizontal

residential projects in the Philippines developed by 14 major players. “The advantage of Vista Land is that they have a good track record in developing livable communities in the country even before the other players came in,” Colliers

said. Vista Land has condominium and subdivision projects in over 50 cities and municipalities, the statement said. “We are projecting around 20-percent revenue and earnings growth for

2012 which should result in another record year for our company,” Vista Land President and Chief Executive Officer Manuel Paolo Villar said in the statement. “Demand for housing in the Philippines continues to be very strong so we are expecting robust growth in reservation sales given our planned project launches countrywide,” he said. Vista Land is the holding company of five business units—Brittany, Crown Asia, Camella Homes, Communities Philippines and Vista Residences.

2 firms charged for non-remittance of Pag-IBIG fund contributions THE Office of the City Prosecutor of Cagayan de Oro and Malaybalay recently executed two separate resolutions in favor of Pag-IBIG Fund in the criminal charges filed against PT Agricultural Resources, Inc and United Valiant Group Services, Inc. for their failure to collect and remit the mandatory contributions due to their employees as well as the required employer counterpart.

After a thorough corroboration of evidences during the preliminary investigation, it was established that the aforementioned companies deliberately violated Republic Act 9679 which is also known as the Home Development Mutual Fund Law of 2009. As a result, the City Prosecutors Office of Cagayan de Oro and Malaybalay further recommended the filing of criminal charges before the Municipal Trial Court in

Cities against the governing board of directors of these employers for noncompliance with RA 9679. “The progress in these cases will absolutely give the Pag-IBIG members a moral boost and an assurance that the Fund will do everything to uphold their rights thereby giving them access to the benefits due to them.”, said Juliano S. Banghal, Pag-IBIG Fund Cagayan de Oro Branch’s

Department Manager. In a related news, the personnel of the Pag-IBIG Cagayan de Oro Branch are currently conducting a series of mapping activities in Region 10 to validate if establishments are actively contributing in the Fund. Meanwhile, unregistered / delinquent employers may now avail of the Penalty Condonation Program in Pag-IBIG Fund only until June 30, 2012.

BusinessWeek Companies 4 MOAs ink for Hedcor’s hydro project in Bukidnon May 14-17, 2012

MINDANAO

ITAOTAO, BUKIDNON – Represented by barangay councils of Barangay Kipilas and Barangay Sinuda, Engr. Gregorio Jabonillo, Hedcor vice president for Business Development signed the memorandum of agreement (MOA) for the proposed run-of-river SitaSimod Hydroelectric Power Project last April 30 and May 7 respectively. “To help address through this project the power shortage can help in the baof Mindanao, Hedcor rangay development will expand its op- and progress”, Gador eration in Kitaotao, said. Bukidnon, harnessIncluded in written ing the water running agreement, qualified from the Sita and residents in the comSimod rivers with munity will be given a total capacity of priority for employ28.2 megawatts” said ment and training Jabonillo. opportunities during With the leader- the stages of conship of Datu Roelito struction and operaGawilan of Barangay tions. Consequently, Sinuda and Merlinda the workforce will be Gador of Barangay sourced out from the Kipilas, the clearance members of the host to proceed to the next community to particsteps is ideally given ipate in the operation to Hedcor after the and maintenance of signing. the proposed plants. “At last! We signed “This project is not the memorandum of only for Hedcor but agreement. We look it’s for everybody”, forward to the com- said Gawilan. “The pletion of this proj- Manobo-Matigsalog ect. I am hopeful that tribes are in need REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT 10TH JUDICIAL REGION BRANCH 28 MAMBAJAO, CAMIGUIN In the Matter of Petition for Issuance of New Owner’s Duplicate Copy of Original Certificates of Titles (OCT) Nos. 8698, 8699, 8702, 8703 and 9827 in lieu of the Lost Ones,

MISC. CASE NO. 109

TEODOMILA CASIMIRO by her AttorneyIn-fact, MA. DOLORES M. RIGONAN, Petitioner, x-------------------------------------------------------- / ORDER Petitioner, Teodomilia Casimiro by her Attorney-in-Fact, Ma. Dolores M. Rigonan, of legal age, Filipino, married and resident of No. 21 Guyabano St., Project 2, Brgy. Quirino 2-B, Quezon City, 1102, Metro Manila, thru counsel, states that parcels of land, duly registered in the office of the Register of Deeds of Camiguin under Original Certificates of Titles Nos. 8698, 8699, 8702, 8703, and 9827 are owned by her mother Josefa R. Casimiro who passed away last 20 January 2012. That the owner’s duplicate copy of the OCT’s of the aforesaid parcels of land were lost and despite earnest effort to locate them, the same was of no avail. The fact of such loss was duly registered in the office of the Registry of

of development that’s w hy w e w e l c o m e Hedcor. The signing of this agreement is a sign of strengthened relationship and with one goal, to pursue this project”, Gawilan added. Hedcor Bukidnon, Inc. will also provide direct taxes and license fees to the local government of Bukidnon for better opportunities to finance other developmental projects. “Our existing host communities of the 4 2 . 5 - M W Si bu l an Hydropower Plant can attest how Hedcor is sincere with its promise”, Jabonillo said to the community. Hedcor is a wholly-owned subsidiary of AboitizPower Corporation. Hedcor is the largest developer of run-of-river hydropower plants in the country with 19 hydropower plants in Benguet, Ilocos Sur, and Davao.

TAMDANAN. Hedcor Bukidnon, Inc. represented by vice president for business development Engr. Gregorio Jabonillo signs the memorandum of agreement with Barangay Kipilas Chairperson Merlinda Gador last April 30 (above photo) and Barangay Sinuda Chairman Datu Roelito Gawilan last May 7 (bottom photo). Gawilan also signs as witness of the Manobo-Matigsalog community to Barangay Kipilas.

Deeds of Camiguin. That petitioner had not entered into any transaction involving the subject parcels of land and the said titles do not contain any encumbrance. It is the main thrust of the petition that after hearing the Owner’s Duplicate of the Original Certificates of Title which have been lost be declared null and void and a new Owner’s Duplicate of Original Certificates of Title Nos. 8698, 8699, 8702, 8703 and 9827 be issued in lieu thereof under the same terms and conditions as contained in the original on file. The petition being sufficient in form and substance is hereby set for hearing on July 5, 2012 in this Court’s Session Hall, to start at 8:30 o’clock in the morning. Let copy of the petition together with all its annexes and of this Order be furnished The Register of Deeds at Mambajao, Camiguin; The Administrator, Land Registration Authority at Quezon City; and Provincial Prosecutor of Camiguin. The Process Server of this Court is directed to post copies of this Order in the 1.) Bulletin Board – Public Market, Mambajao, Camiguin; 2.) Bulletin Board – Municipal Hall, Mambajao, Camiguin; 3.) Bulletin Board – Provincial Capitol, Mambajao, Camiguin; and 4.) Bulletin Board – this Court. Let copy of this Order be published at petitioner’s expense once a week for three consecutive weeks prior to the date of hearing in any newspaper of general circulation in the Province of Camiguin. Any person or entity whose interests might be adversely affected by this proceeding may file written opposition within a reasonable time prior to the date of hearing and appear personally during the hearing to substantiate the same. SO ORDERED. Done at Mambajao, Camiguin, this 3rd day of May 2012.

BWM: MAY 14, 21, & 28, 2012

RUSTICO D. PADERANGA Judge

Diao... from page 7

(seen microscopically by examining the cervico-vaginal smears/paps test). What accounts for the absence of these changes or non progression into the big C, is the capability of the immune system of most women that suppresses or eliminates the viruses. For those with persistent infections, the Big C is highly probable. The vaccine is given in three doses over a six month period. The recommendation is to give it for females (males can also be vaccinated), within the age group 9 to 26. Proponents say that it is BEST given before the start of being sexually active, and, if the patient has not had any infection as yet with HPV. The protection of the vaccine, according to studies that have been conducted lasts for 8 years, thus, booster doses must be given on the 9th year. What about those that may have already been exposed to the infection? Immunization with the HPV Vaccine may still be given, though, one should

be made to understand that if there is an existing infection, the vaccine will not clear the virus from the system nor treat it. What the vaccine can do, is, to protect one from the high risk types of the virus (6, 11, 16, 18). Remember that there are so many types of these viruses! Any one of them may have caused the infection. Which brings us to another fact: even with the completed vaccination, one should not do away with regular check up and cervical screening! Women can be the recipient or the source of the infection. Either way, one stands to lose, if one were to develop the Big C. But not just the Big C, to experience this Sexually Transmitted Disease has psychological, emotional, physical and economic impacts ,that can be devastating. Thus, protection against the disease is a MUST: a vaccine is only one of them. Staying monogamous (for both sexes), and having the act within the context of marriage is Biblical and healthy.... whatever one’s stand on the matter may be, RESPONSIBLE is still a golden rule that will always stand the test of time.

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May 14-17, 2012

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May 14-17, 2012

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BusinessWeek MINDANAO

The right motivation THINK a minute… A school teacher was complaining about a little boy in her class who was not showing any interest in learning. She said: “That boy David just will not do his school work. He’s not even motivated enough to try!” But a famous education professor says there is no such thing as a person who is not motivated. So what that teacher should have said is: “David just is not motivated to learn with me.” Because that same boy, David, will jump out of bed early in the morning if he’s going fishing or to play with his friends. Everyone can be motivated. We just need to be motivated for the right things. Just watch people leaving work on Friday, rushing off

for a weekend of fun. They don’t look unmotivated or lazy then! Maybe you had a schoolteacher who really made a certain subject interesting even exciting to you. They made you want to learn more, and they explained things so you could really understand. Then you ended up doing much better in that teacher’s class than you did in the other ones. But then it’s not possible for our children’s teachers to know our own kids as well as we do. That’s why we their parents are their most important teachers. It is mainly our responsibility to motivate our children so they want to learn and do their best. And to do that, we must let our kids know that we believe in them. We watch them closely so we can

help them know what they’re naturally talented and good at doing. Then we need to encourage them in that area so they can fully develop their own special abilities, whether it’s academics and school, sports, cooking, music, business, relating to people, or something else. You and I can motivate our children by always loving and accepting them without conditions, no matter what they do. Even when we don’t approve of everything they do, we must still accept them so they know they are always loved. And when our kids do something well, we should encourage them by letting them know how very pleased we are with them. Maybe you yourself never had someone who believed

THINK A MINUTE

JHAN TIAFAU HURST in you or motivated you to be your best in life. But today, you can ask Jesus Christ to take charge of your life. He will help you start seeing and using your own special abilities He’s given you. Jesus will also help you start encouraging and motivating others to be their best. Just think a minute…

Investing for an Airport hotel IN many regions of the world, airports are being renovated with a growing number of air travelers demanding more pleasant environment including green comfort rooms, a variety of restaurants, gift shops, currency exchange counters, automated bank teller machines and a hotel located within a walking distance from the terminal. Airports should not have any dysfunction. These are show windows of a destination aside from an economic indicator of the prospect of attracting tourists and investors. Much more, airports have to be friendly and peaceful. Of course, brawls and fracas should never be allowed to happen as it is disgusting to the sensibilities of the other foreign nationals and traumatic for travelling children. Airport hotels are part of the convenience of travel. It may have varying policies on whom to serve, either

exclusive to guests staying overnight or those availing day rates? Many airport hotels in Metro Manila during the early 90’s were serving airline lay-over passengers who were either bumped off from their flights due to reservations snafu or cancellation of flights as a result of unfavorable weather. Sometimes travelers under force majeure are left at their own looking for a nearby hotel for accommodation. There are airport stresses caused by technical problems arising from flight delays when airplanes suddenly developed mechanical trouble and there is no immediate aircraft replacement. Airport hotels are necessities but could also become diminishing returns ventures unless revenues are enhanced by selling services to travelers regardless of whether they book a room for a night or develop other leisure products like Spa, health clubs

and gambling casinos for business synergies. In places where gambling license are issued, airport hotels branch out into gambling casinos as a come on for travelers relaxation while waiting for their flights. Theme restaurants also become fashionable when someone seeking a break from airport food could walk over for a meal and enjoy a more tranquil atmosphere. Waterfront Hotel along the Mactan International Airport in Cebu located just across the terminal is the only surviving airport hotel outside of Metro Manila. It is afloat because of a Casino. The first 5-star airport hotel in the late 70’s built in Manila at the former Manila International Airport, the Philippine Village Airport Hotel has long closed shop in the year 2000 and the building has been mothballed for the last 12 years for lack of investors

TRAVERSING THE TOURISM HI-WAY

PED T. QUIAMJOT to undertake its renovations. The hotel has made its mark as an airport hotel and casino and has seen the best during the Marcos era. At the NAIA 3, along Pasay City, a new airport hotel owned by Alliance Global operated by Marriot of the US international chain of hotel is given a run of their money against a sister company competitor Maxim’s which has a Resorts World casino and a huge QUIAMJOT/PAGE 7

The Importance of Good Credit (First of two parts) IN the Philippines, the word credit is usually associated with “utang”—thus the ubiquitous “Your Credit is Good But We Need Cash” signboards in many of our local carinderia and sarisari stores. Since the word “utang” (debt) has developed such a negative connotation in Filipino culture, its English counterpart has received a relatively bad reputation as well. However, this should not be. Good credit, according to the Financial Consumer Affairs Group (FCAG) of the Bangko Sentral ng Pilipinas, can actually be an asset that can help fuel our future wealth. CreditSmart Asian defines credit as the ability to borrow tomorrow’s money to pay for something that we get today. It is a promise to

repay a debt or obligation within a specified period of time. The FCAG, in its Weekly Wealth Watch newsletter, further explained that our ability to honor such promise reflects on our reputation and credibility as individuals. “The more creditworthy we are, the more attractive we appear to lenders, the better our chances of receiving favorable rates and terms, and the shorter time it takes for our credit to be approved,” the FCAG said. In her article “Why Good Credit Matters,” personal finance writer LaToya Irby described the various benefits of good credit: • When it comes to our home, mortgage lenders want to be sure that we won’t default on our payments and thus use credit information to determine

whether or not to grant us the loan. • It can help decide our suitability in applying for a car loan, also the amount and the interest of the loan. • Whether we are purchasing a house or vehicle insurance, our credit score will play a role in determining the premium we pay for these. • Employers can check the credit history of potential applicants to gauge individual sense of responsibility. • For those of us who are planning to put up our own business, most business startups require a sizeable amount of cash that we may not have at the moment. Having good credit can help us to qualify for that much-needed business loan. The FCAG explained that bad credit data, as opposed to a good credit standing, suggest that people who

SPEAKING OUT

IGNACIO BUNYE incurred them are “more risky borrowers.” Borrowers with bad credit data are subject to more expensive loans and fewer options. They are also vulnerable to predatory lenders. Signs of bad credit include failing to repay loans, being late on payments, maxing out credit lines, and filing for bankruptcy. According to the FCAG, BUNYE/PAGE 7

BusinessWeek

May 14-17, 2012

MINDANAO

Bunye... from page 6

lenders use a number of factors to determine financial trustworthiness: 1) income — which actually determines if we have the means to pay back credit; and 2) credit history — or how we have used credit in the past, which is one of the best ways to predict how we will use credit in the future. Credit bureaus, or credit reporting agencies, track our credit histories and related information and organize these into a credit report that financial institutions can access and refer to anytime. Another essential concept to consider is credit score, which is a very important number that lenders use in determining whether or not to extend credit and at what interest rates and terms. Our payment history, total amounts owed, length of credit history, new credit, and type of credit used are all included in the computation of our credit score, the FCAG explained. A general rule to remember: the higher our score, the more creditworthy we are perceived to be. (To be concluded next week)

Quiamjot... from page 6

a huge theater for the performing arts. Maxim’s is a full service hotel suite with butler’s service. A new concept in luxury hotel accommodations. In the near future, luxury hotels will be defined with full butler’s service. With uniform staff doubling as

personal assistant to take care of meal arrangements, laundry and even setting up appointments for business meetings. Among the new properties coming up in the Makati Central Business District, Raffles Suites a joint venture of the Ayala Land and Kingdom Hotels of Saudi Arabia will be a dream come true when every hotel guests are treated in a spacious suites like royalties. Hotel accommodations are going over from the necessity among travelers into a standard of measurement among the rich and famous. It has become a status symbol when one stays at a hotel carrying the international brand of Radisson Blue, Shangri-La or Sofitel. Many among these brands are now in Mindanao, debuting in Davao City in the next 36 months. The possibility of Cagayan de Oro as a magnet for international hotel management companies to operate locally owned properties will be a new dawn in the hospitality industry in Northern Mindanao. It could be a good direction to uplift the competitive standard of services that we lack against the other big Asian cities and improve our share of visitors’ arrivals with a marketing penetration in the international tourist market. Government through the Department of Tourism recently gives us an update during the ADB Board of Governors meeting of the 1st quarter foreign visitor’s arrivals to have hit 1.148 million or on-tract with the 4.6 million full year forecast for 2012. It was higher by 16.03% more than the 989,501

arrivals recorded in the same period last year. Internationally rated airports are attractions for hotel investments. Returns of investments for tourism infrastructure projects are easily projected to recoup basing on the airline capacities and flight frequencies together with their load factor. Statistics in Northern Mindanao are favorable for more business class hotel development. With a growing population of 1.6% per year and an improving economic standard based on moderate 4 % annual GDP growth forecast of the Government.

Banana... from page 1

A container, said Mr. Antig, holds about 1,500 boxes of bananas. A box weighing 13.5 kilograms (kg) is generally sold to importers at about $4/kg. Last year, about 70 million boxes of bananas were exported by Mindanao growers, 24 million of which went to China, or about a third of the total volume. The new rules have been met by members of PBGEA, said Mr. Antig, but the to detriment of small exporters. Complying with the requirements, said Jimmy Estimada of the Federation of Cooperatives in Mindanao,will cost an operator about P500,000 for each packing plant, an amount that small banana growers could not easily afford. On March 5, Beijing sent a letter sent to the Bureau of Plant Industry (BPI) claiming it discovered a pest in the bananas packed by a PBGEA member. Upon investigation, however, the association found out the pest was not present in bananas, but in coconuts. A similar complaint letter was sent two months later.

The HPV Vaccine: A breakthrough for the women of today LAST week, in celebration of Mother’s Day, I discussed what would be a great way of showing our love to our Mothers. And, as a follow up on the topic, I see it fit to focus this time on one of the preventive, though not curative, breakthroughs in Medical Science, which is actually not just for the mothers, or the mothers to be, but for the women of today. Immunization plays a role in the prevention of diseases and has long been recognized as cost effective, which reduces healthcare costs. The introduction and release of the HPV vaccine is timely, considering the rising number of cases of

the Big C affecting the cervix (one of the common cancers affecting women). Human Papilloma Virus or HPV, is a group of more than 100 related viruses, which cause warts, or papillomas ( benign non cancerous growths ). Of these, the ones that are proven to cause the Big C, are types 6, 11, 16 and 18. The mode of transmission of the virus is through the genitals, anal or oral. It is easily passed on through sexual contact. Thus, come to think of it, the cancers that these viruses cause is not limited to the female population, but, can also affect the men (penile cancer, oropharynx). Most infections of HPV

Celebrate Mothers Day at the comfort of your Home WHEN I was trying to think of the perfect Mother’s Day brunch dish, I immediately thought, ‘What would my mother want?’ Besides love, affection and gratitude for all that she does for my little family, I knew my mother would like one thing: a delicious salad. When I say she loves salad, I mean she really loves any salad, be it vegetables, fruits or pasta. Since it’s summertime I wanted my main ingredient to be something seasonal that you’d also be able to

find fresh in almost any grocery stores—so I chose club chicken salad for the side along with heavenly herbs and noodles. Mothers’ day! , is a much celebrated day of the year, because we do all have mothers, right? We honor them by giving them tributes they truly deserved and that we would really like to make them feel very special for this occasion. Maybe you would like to plan a sophisticated tea party any mom would love, with our local and internationally-

origin, may have no symptoms, and may go away even without treatment. But, there are affected patients whose infections may persist for many years, with or without any detectable cellular changes or abnormalities DIAO/PAGE 4

LIFE & Leisure

RIZA O. ARES, HRM

inspired collected menus, where they speak volumes about nation’s heritage. We know that every mom has a knack for creating simple yet surprisingly sophisticated food that, yes, ARES/PAGE 9

Billboard

May 14-17, 2012

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Style Meets Substance Gateway’s two new laptops, the NV47H and LT40, are marked by sleek, distinctive design and impressive computing performance Style meets substance as Gateway expands its acclaimed notebook series with a pair of beautifully designed and budget-friendly high-performance laptops: the 14-inch NV47H and the 10.1-inch LT40. The two new additions both pack next-generation Intel® processors, the always-reliable Microsoft Windows® 7 operating environment, high-definition LED-backlit screens, and a range of elegant style options to match the look and pace of today’s modern urban lifestyle. The Gateway NV47H, the latest from the company’s trendsetting NV Series notebook computers, is an ideal everyday laptop that strikes the perfect balance between personal and professional. It exudes a classic industrial vibe and features a sleek, delicately patterned chassis—available in red, black, and white—with smooth round edges, refined silver trims, and in-mold finish. A chic palm rest echoes the unique design patterns on the laptop’s lid, while the combination of a seamless multi-gesture touchpad and spacious chiclet keyboard makes typing, touching, or clicking

an extra comfortable experience. At the center of it all is a vibrant 14-inch LED-backlit screen, which includes true HD 1366 x 768 resolution, a 16:9 aspect ratio, and Gateway Ultrabright™-enhanced visual performance. Gateway, a wholly owned subsidiary of tech pioneer Acer, one of the world’s most trusted IT firms, styled the Gateway NV47H as an object of desire—it will definitely get noticed as users move out and about—but the laptop doesn’t get by on looks alone. With the computing power of an Intel® Core™ i3/i5/i7 processor, the dynamic speed of Intel® Turbo Boost technology, and the graphics capabilities of the NVIDIA GeForce GT 500 Series, the Gateway NV47H delivers the kind of performance that flashier or more expensive counterparts cannot claim to provide. Add high-definition audio support from a powerful set of stereo speakers, HDTVready output (via the built-in HDMI port), extended battery life, and an optional Blu-Ray Disc player—and the laptop stands as a true multimedia

powerhouse, perfect for enjoying cinematic-quality entertainment anytime, anywhere. These cutting-edge technologies are implemented in a way that’s easy to use. The Gateway NV47H features One-click Hotkeys that give users instant access to favorite applications and functions; it also has a dedicated button for launching Social Networks 2.0, an app that connects to hugely popular social networks like Facebook, YouTube, and Flickr with one push of a button. lightning-fast Bluetooth 3.0+HS connectivity,

Oro...

lectibles to a lax lending policy adopted by the bank in 2009, which no longer required comprehensive surety agreements and other collateral requirements for some borrowers. “Of the written-off ac-

counts in 2010, 88.08 percent pertained to cooperatives, while 11.92 percent pertained to countryside financial institutions,” he said. The Rodriguezes reminded that the LBP should

from page 1

increase over the P47.982 million in write-offs in 2009. Quoting the state auditors, Rodriguez attributed the huge increase in uncol-

a SuperSpeed USB 3.0 port, a Multi-in-1 card reader, and the integrated MyBackup solution, meanwhile, make data transfer and management simpler and faster than ever. Rounding out the Gateway NV47H’s compelling feature set is a high-definition 1.3-megapixel webcam with A/V recording capabilities. Not only does it record video at an impressive 25 FPS (frames per second); the camera also has a Mirror Mode Function to make sure that users look their best, and are at their most stylish while in the

middle of Internet video calls or picture-worthy moments. The Gateway LT40: sized and powered for mobile The Gateway LT40, on the other hand, is the ultimate laptop for dynamic young individuals who are always on the go: be it for work, play, or anything in-between. Sized and powered for mobile, the Gateway LT40 includes the all-new Intel® Atom™ N2600/2800 processor, a bold, brilliant 10.1-inch LED-backlit screen, and an extremely thin (about an inch) and lightweight form factor. It stays true to the distinctive contemporary stylings of Gateway’s LT Series of netbooks, with nature-inspired design patterns, a glossy finish, and eye-catching color options like River Black, Mystery Purple, and Galaxy White. To deliver unparalleled mobile freedom, Gateway equipped the Gateway LT40 with the highly capable Intel® Integrated Graphics Media Accelerator 3600, 250G of HDD storage, a long-lasting 6-cell battery (which lasts up to 8 hours on a single charge), a smooth multi-gesture touchpad, and

a fingertip-friendly keyboard that is 93 percent the size of a standard-sized one. The chic netbook also includes essential data ports and slots, such as a Multi-in-1 card reader, two USB ports, an HDMI port for 1080p HD playback, and optional Bluetooth 4.0+HS connectivity. Going unplugged, after all, doesn’t have to mean getting disconnected. Like the Gateway NV47H, the Gateway LT40 is built to simplify users’ social networking activities. It includes One-click Hotkeys and high-speed Wi-Fi 802.11 b/g/n connectivity for breezing through Facebook News Feed updates, Flickr photo sets, and favorite YouTube videos. There’s also a handy Webcam with a built-in microphone perfect for videoconferencing or IM chats with friends, colleagues, and loved ones. With such riveting designs and truly remarkable performance, the Gateway NV47H and Gateway LT40 both deliver what today’s users long for: the ability to stay productive and move in style, without sacrificing one or the other.

strike a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable. “ The dual function makes Land Bank unique because the profits derived from its commercial banking operations are used to finance the bank’s developmental programs and initiatives,” they said. The solons said the COA already asked the LBP to review its policy on the granting of loans to cooperatives and countryside financial institutions, particularly

on collateral offered by the borrower. “There is really a need to look into the matter and determine if there is a need to further enact new legislation to ensure that Land Bank continues to perform its functions and help the countryside while at the same time ensuring its financial viability,” they stressed. In 2010, Land Bank launched a more aggressive lending drive, reporting over P32 billion in countryside loans channeled through hundreds of farmers and

fisher folk cooperatives and countryside financial institutions.

Republic of the Philippines REGIONAL TRIAL COURT 10th Judicial Region Branch 3 Hall of Justice, Libertad Butuan City IN RE: PETITION FOR CORRECTION OF ENTRIES OF THE CERTIFICATE OF LIVE BIRTH OF MINOR CORINA PRINCESS CADAY WITH LCR NO. 2003-8283

SP. PROC. NO. 4350

SPS. RODITHA CADAY XU AND WENZHONG CAI XU. Petitioner, -versusTHE LOCAL CIVIL REGISTRAR OF BUTUAN CITY, Respondent. X- - - - - - - - - - - - - - - - - - - - - - - - -/ ORDER This is a verified petition filed on March 26, 2012 and raffled to this Court on March 29, 2012.Finding the petition to be sufficient in form and substance, the same is hereby given due course. Set the case for hearing on June 1, 2012 at 8:30 in the morning. Let a copy of this Order be published at petitioner’s expense once a week for three (3) consecutive weeks in a newspaper of general circulation in Butuan City and Agusan del Norte entire Caraga Region. The Local Civil Registrar of Butuan City and any person having or claiming interest under the entries whose correction is sought may, within fifteen (5) days from notice of the petition, or from the last date of publication of such petition, file their opposition thereto. Let a copy of this Order be posted also at petitioner’s expense, in the bulletin boards of the Hall of Justice, of the Provincial Capitol and of the City Hall of Butuan City and that copy of said Order together with the petition and the annexes thereto, be served upon the Honorable Solicitor General, the Honorable City Prosecutor and the Local Civil Registrar of Butuan City. Serve also a copy of the Order upon the petitioners and their counsel Atty. Yvette H. Samper. SO ORDERED. Done in Chambers this 10th day of April, 2012 at Butuan City, Philippines. (SGD.) FRANCISCO F. MACLANG Presiding Judge BWM: Apr 30, May 7 & 14, 2012

Power... from page 1

“The successful repairs and rehabilitation is completed nine days ahead of schedule. We have received reports indicating that there are no more rotating blackouts in Mindanao for the past two days,” Almendras said. The major repairs on the 255-megawatt Pulangi plant in Bukidnon has been completed ahead of schedule, state-owned National Power Corp. (Napocor) said last week. “I must insist that the power supply in Mindanao is still critical as there are no contingency reserves. Thus, in the event of a failure in any of the power generation equipment, this will automatically result to a shortfall and blackouts. Therefore, we must not be complacent. We must continue to acknowledge the urgency of increasing the generation capacity in Mindanao,” he added. To address the critical power supply, DOE is pursuing the following initiatives: • The resolution of the problems in operating and rehabilitating the Iligan diesel power plant that could add 100 megawatts in seven to eight months; • Rehabilitation and transfer of 120 megawatts of privately owned power barge generation; and • The cost efficient and speedy rehabilitation and transfer to Mindanao of the 96 megawatts of power barges that Napocor operates. POWER/PAGE 9

BusinessWeek MINDANAO

Ares... from page 7

even the kids will eat. We just have to be a little more creative though, and we know that in their hearts, they will surely appreciate and love it with gusto. Many food lovers asks me if we could features some recipes that they would like to serve, perhaps a fabulous festive brunch for their moms will do, as they would like to skip the restaurant and celebrate Mom at home. We’ve got recipes for eggs, pancakes, waffles, coffee cake, fruit salad and fun cocktails. These dishes are not difficult to make. I will be giving you recipes that are easy to follow and quick to prepare in the coming issues. So stay connected.

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

Power... from page 8

“It is important to highlight that despite the absence of curtailment resulting to rotating blackout, we should focus on the urgent measures that we have to follow through. We must accelerate new power generation projects, both traditional

Misor.Today

May 14-17, 2012

Salay Kasilay Festival: It’s more fun in Misamis Oriental By JOE PALABAO, Reporter

THOUSAND of Salaynon gathered around the town plaza as they witnessed the second Kasilay Festival. Contingents, clad in their colorful and beautiful indigenous materials, mesmerized the crowd as they performed street dancing and the actual tableau competition. Contingent No. 2 of Purok 7 made a whole long story line of the tableau. The tableau capsulized the Legend of Salay. Salay is an eastern town in Misamis Oriental and believed to have begun long before the Spanish colonizers even set foot in the island of Mindanao. The Higaonon’s highlander tribes from the neighboring province of Bukidnon has their small communities already established along the banks of Casulog River before the “tall men” came. The dance tells of a legand renewable energies,” Almendras said. The DOE announcement of the end to brownouts in Mindanao comes on the day non-government organizations will hold a counterpart summit to discuss ways of addressing the region’s power crisis. Organized by the Freedom from Debt Coalition,

end that goes, the name Salay came about this way: One day, during the Spaniards times the conquistadores passed by a Higaonon aide named Salilang. She was then busy looking for her necklace made of Shells which was lost in the Casulog river banks. Salilang was asked by the Spaniards,

“Quenombre de lugar?” (What is the name of this place?). Not understanding the Spanish language, Salilang answered, “I am looking for my necklace which is made in Silay.” The Spaniards who could hardly pronounce and recall the words uttered by Salilang identified this place as “Sa-

pression of gratitude — in every task there is always an equivalent responsibility and challenge — we are challenged to take go ahead with a sense of purpose, which we take from our from page 1 remembrance of our past,” he said. challenge. Abacahin said remem“We have to go back and then express our gratitude. bering one’s history every And accompanying our ex- now and then is very im-

the so-called people’s summit comes weeks after President Benigno Aquino III led a stakeholders’ dialogue on the same matter.

Balay...

lay after the word “Silay:, a vernacular for shells. As what their practice, the Spaniards then erected cross in the river bank of Casulog which part of Salay to mark its Christianization. The tableau made a signature adage Kasilay Festival: Is More Fun In Misamis Oriental. Kasilay Festival 2012 starts April 22-May 1, 2012 which ends during the Feast of St. Joseph the WorkerMay 1. It is celebration with daily activities sponsored by the Parish of Salay and Local the Government Unit. This year’s theme Kasilay: “Kadunganan Salaynon, Garbong Lungsudnon, Maoy Tinguhang Usahon Ang Atong Lungsuranon.” The Festival was in cooperation with Salay Municipal Tourism Council, the Local Government Unit and Sangguniang Bayan Office which facilitated its success through the effort of Tourism SB Chairman Bobong Piquero and Asst. Tourism

Chairwoman Brenda Flores with Vice Mayor Angelo Capistrano Jr. with Mayor Romeo Gue. Tourism Regional Director Butch E. Chan 111 was represented by Decius “Yoyong’ Esmedalla-DOT X Marketing Promotions Officer and Artistic Director who gave a message of support in making Salay as an emerging tourism destination in Misamis Oriental and in the Region with the successes of the Kasilay Festival. Yoyong also was the Chairman of the Board of Judges of the Festival along with Ms. Cathy Miego-Provincial Tourism Officer and Jhules Baril-Managing Director of Regatta Tours Asia. With the support of the Department of Tourism in Region 10 and the Provincial Tourism Office, it is hoped that a sustaining Kasilay Festival will become a Festival to see in the future in the Province of Misamis Oriental and of Region X.

portant as one take on so many challenges as it will keep one from diverting from his chosen goal and purpose. “We have to thank God for the gift of memory, the faculty to remember. It is difficult to go back without memory…Even the Lord, if you listen closely to the words during the conse-

cration of the Eucharist during mass, the concluding statement of the priest quoting Jesus is ‘Do this in remembrance of me’.” “Ang pagkalimot sa Kagikan, sa gamut, mao usab ang pagkaguba sa paingnan, sa kaugmaon (Forgetfulness of one’s origin, of one’s roots, is the cause of the destruction BALAY/PAGE 10

May 14-17, 2012

Congress.Watch

BusinessWeek

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Rufus, TJ Guingona turn-over projects to Oro barangays By GERRY L. GORIT, Reporters

VARIOUS infrastructure projects funded by the priority development assistance fund (PDAF) of S enator Teofisto Guingona III and Cagayan de Oro City 2nd district Rep. Rufus Rodriguez were turned over on Friday in several barangays of the city. The second District Engineering Office of t he D ep ar t ment of Public Works and Highways has been

Balay... from page 9

tion of one’s future),” he said. The BMFI began to base its operations in 1996 in an old building along JR Borja and Capistrano Streets, where the Balay Mindanao Formation House hosted BMFI’s trainings and other activities done by an original staff of three. From that very humble beginnings, BMFI stayed on course and now continues to scale new heights in establishing a “balay that is a house, a home, a family” where there is “kaangayan, kalambuan, kalinaw” for the Moros, the Lumads, and the Settlers not only in Mindanao but the entire Philippines and the World. With so much accomplishments in so short a time — becoming a global brand in peace, equity and development work —BMFI must always show gratitude to the “Prince of Peace, God” for giving its very being meaning and purpose, Abacahin

the lead agency in the construction of the projects with a P5 million budget earmarked by Sen. Guingona III for Cagayan de Oro. These include the construction and repair of MPB at four sites in barangay Macabalan worth P250,000; Concreting of roads also in Macabalan wor t h P2,500,000; Construction and repair of MPB at two sites in barangay Puntod worth P250,000; Concreting of roads at barangay Cugman worth P2,500,000; Construction and repair of MPB at Cugman worth urged. “In remembering, in our going back to our origin, our root, we cannot help but express our gratitude…[especially since] there is nothing is this life that we can call our own; everything comes from God, even the gift of peace,” he said. Abacahin also reminded BMFI to remain true to its calling as channel of blessings and peace. “We have lots of problems, especially in Mindanao and most especially in our very own city Cagayan de Oro. Our experience with Sendong is an eye-opener. But what is important is we help… the poor…We have been made into channels of relief and blessings…We are just instruments,” he said. As BMFI begins another year, Abacahin encouraged all staff to continue to work for peace. “When we work for peace we work for and with God because God is the Prince of Peace,” he stressed.

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P170,000; and Construction and repair of MPB at two sites in barangay Gusa worth P250,000. Meanwhile, the projects under Congressman Rodriguez PDAF worth P7,650,000 include: construction and repair of MPB at three sites in barangay Bugo worth P750,000; construction and repair of MPB at barangay Puerto worth P165,000; construction and repair of MPB at four sites in barangay Tablon worth P435,000; construction and repair of MPB at two sites in barangay Camaman-an worth P180,000; construction and repair of MPB at two sites in barangay Macasandig worth P290,000; construction and repair of MPB at two sites in Barangay 40 worth P1million; construction and repair of MPB in Barangay 32 worth P160,000; and construction and repair of MPB in Barangay 28 worth P160,000. Rep. Rodriguez also turned over to the lo-

INFRA PROJECT. Cagayan de Oro City 2nd District Rep. Rufus Rodriguez and barangay Gusa chairman Emmanuel Beja lower a time capsule during the groundbreaking ceremony of an infrastructure project. The project is funded by the priority development assistance fund of Sen. Teofisto Guingona III who gave P5-million and congressman Rodriguez (P7,650,000). PHOTO BY GERRY L . GORIT

c a l g ov e r n m e nt u n it s two completed projects: a two-storey, six-classroom schoolbuilding in Brgy. Puerto worth P3,090,000 and river dikes in Brgy. Tablon worth P500,000. Barangay Gusa chairman Emmanuel B eja joined the two officials and DPWH engineers in the laying of a time cap-

sule for the project in his barangay. B eja expressed his gratitude to the senator and congressman for the infrastructure project that will benefit the residents of Gusa. These latest infrastructure projects in the second congressional district of Cagayan de Oro, under-

taken by Senator Guingona and Congressman Rodriguez, are in addition to the previously completed projects of the congressman and his brother Abante Mindanao party-list Rep. Maximo Rodriguez who have been pouring millions for the development of the various barangays.

Employers criminally charged THE Office of the City Prosecutor of Cagayan de Oro and Malaybalay re cent ly exec uted two

separate resolutions in favor of Pag-IBIG Fund in the criminal charges filed against PT Agricultural

Resources, Inc. and United Valiant Group Services, Inc. for their failure to collect and remit the man-

datory contributions due to their employees as well as the required employer counterpart. After a thorough corroboration of evidences during the preliminar y investigation, it was established that the aforem e nt i on e d c omp an i e s deliberately violated Republic Act 9679 which is also known as the Home Development Mutual Fund Law of 2009. As a result, the City Pro s e c ut or s O f f i c e of Cagayan de Oro and Malaybalay further recommended the filing of criminal charges before the Municipal Trial Court in Cities against the governing board of directors of these employers for non-compliance with RA 9679. “The progress in these cases will absolutely give the Pag-IBIG members a moral boost and an assurance that the Fund will do everything to uphold their rights thereby giving them access to the benefits due to them,” said Juliano S. Banghal, Pag-IBIG Fund Cagayan de Oro Branch’s Department Manager. In a related news, the personnel of the Pag-IBIG Cagayan de Oro Branch are currently conducting a series of mapping activities in Region 10 to validate if establishments are actively contributing in the Fund. Meanwhile, unregistered / delinquent employers may now avail of the Penalty Condonation Program in Pag-IBIG Fund only until June 30, 2012.

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May 14-17, 2012

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May 14-17, 2012

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