An official of the Philippine Institute of Volcanology and Seismology-Davao (Phivolcs-Davao) disclosed on Friday that Davao de Oro is prone to earthquakes as it is along the Philippine fault lines including identified localized fault lines.
On Wednesday, New Bataan in Davao de Oro was jolted by a magnitude 6.0 quake, which caused damaged on some private
and government infrastructure and properties in the province.
“Davao de Oro is prone to earthquakes because
it is along the Philippine fault lines and identified sa system ng Phivolcs that we have the west fault Compostela, the eastern part of Compostela fault and the central Compostela fault. So far marami pa diyan localized fault lines which were covered from time to time,” said Eduardo Lauron, officer in charge of Phivolcs-Davao during Ka-
Achief executive of the local government unit of Bansalan bares plans of addressing the town’s water system and the promotion of its tourism industry.
pihan sa PIA at NCCC-Victoria.
Lauron added that historically, Davao de Oro has a track record of nine major earthquakes from 1891 until the present.
“Siyam na po iyan. Kilalang kilala yung nangyari sa Monkayo, the 1893 magnitude 7.3 Monkayo earthquake. Most of the FEARTHQUAKE, P10
Members of the anti-scalawag unit of the Philippine National Police (PNP) have arrested a police officer in Davao City who allegedly killed a colleague for having an affair with his wife.
In a report on Friday, Brig. Gen. Warren de Leon, chief of the Integrity Monitoring and Enforcement Group (IMEG), said the sus-
pect Cpl. Derick Tanduyan, 31, assigned at the Police Regional Office 11 (Davao), was arrested inside their headquarters at Camp Sgt. Quintin M. Merecido in Buhangin, Davao City at about 10 a.m. Wednesday.
Tanduyan is wanted for murder by the Digos City Regional Trial Court Branch 18 with no bail recommended.
Based on the initial investigation, Tanduyan shot dead Pat. Harris Jhune Adayo on May 31, 2022.
It added that Adayo was known to have had a relationship with the suspect’s wife.
Pending investigation, Tanduyan was placed under the custody of the Regional Personnel Holding and Accounting Section
(RPHAS) 11.
Denying involvement in Adayo’s killing, Tanduyan said he would have escaped from the custody of the RPHAS if he were guilty.
Tanduyan will be brought to the Magsaysay municipal police station in Davao del Sur for documentation and processing. (PNA)
Mayor Edwin Reyes said they are working with the local water district in order for the town to have a viable water system.
He recognized that the absence of drinkable water shies away investors.
“We are working with our water district office here since the community needs a good water source, while infrastructure programs like concreting of the city streets run secondarily, ” Reyes said.
He said the town mulls of tapping tourism potential areas like Balutakay in Barangay Managa which is overlooking the Davao del Sur province.
Reyes said they want to maximize the tourism potentials of Sitio Balu-
takay that will become the summer capital of the province just like its adjacent barangay in Kapatagan, Digos City, Davao del Sur.
He claimed the operation of the modernized vehicles using the Aplaya-Digos-Kapatagan-Balutakay-Bansalan Proper and vice versa route will surely help not only the farmers but also domestic and foreign tourists.
Reyes said the route will also boost Bansalan’s economy as it passes by Barangay Managa towards Bansalan Proper and Vice Versa.
“The initiative of the Kapatagan Transport Cooperative will surely boost the vegetable farming and local tourism in the area, because they will ensure accessibility from the ridge to the sea. People who have to vehicle can now definitely reach these areas,” he said. (PIA XI-Joey Sem G. Dalumpines)
The Philippine Institute of Volcanology and Seismology-Davao (Phivolcs-Davao) reported on Friday that as of 8 a.m., at least 790 aftershocks were recorded in New Bataan, Davao de Oro, which is the epicenter of the 6.0 magnitude earthquake that occurred on February 1, 2023.
“Starting 6:44 p.m. of Wednesday, February 1. a strong magnitude earthquake base sa information bulletin namin was posted a maximum of intensity 5 but because of the reported damages, it was increased to a level of intensity 6 sa mga areas that have some damages to buildings and houses. Most of the earthquakes recorded now are within the epicenter where the fault continues to resettle that is why we have aftershocks,” Phivolcs-Davao executive Eduardo Lauron said during Kapihan sa PIA at NCCC-Victoria on Friday.
Meanwhile, Angie Payosalan-dela Cruz, regional information officer
of the Office of Civil Defense 11 (OCD 11), reported that based on their assessment with a focus on Davao de Oro and Davao del Norte, only minor damages were recorded specially in the areas near the epicenter, the town of New Bataan, as well as in Maragusan, Montevista, Nabunturan, and Compostela Valley.
“Overall we really have a good assessment, minor damages, and no casualties reported. With a focus on Davao de Oro and Davao del Norte, these are the two provinces nga heavily affected sa ating 6.0 magnitude earthquake and we are fortunate that per assessment only minor damages lang were recorded the good news is that we recorded zero casualties, although, there are several reports that there are students who fainted during the earthquake we can’t really avoid those things specially if ganon kalakas ang lindol,” she said.
Dela Cruz said that the assessment of the
By MAYA M. PADILLODavao Consumer Movement (DCM) wants the Energy Regulatory Commission (ERC) to investigate Northern Davao Electric Cooperative (Nordeco) after numerous complaints were posted on social media alleging anomalous meter reading, which led to a much higher consumers’ electricity bill than their actual consumption.
In a statement, Ryan Amper, co-convenor of the DCM, cited a Facebook post that claimed that a Nordeco meter reader
misread the meter to reflect a higher consumption which would result in a higher collection.
On the Wow Asun-
cion!PH Facebook page, a certain Jimlornmat Lumaso questioned what he pointed to as a dubious meter reading as what was reflected on the actual bill was way above the one reflected on the meter.
“#NORDECO unsa maning tirada nimo kaning tig reading dri abvance kayo ka...dagko na gani mog paningil nga walay abiso nga mo taas unya manikas pamo kawat manang tirada nimo (What scheme is this when the one read-
ing (the meter recorded) and advance reading…you even ask for higher rates without informing the consumers, now you will also cheat, your scheme is stealing (from the consumers),” it said.
“Aside from its obvious inefficiency in running its systems, consumers have been complaining about some alleged irregularities by Nordeco personnel,” said Amper.
Amper stated that the meter reading was the
Atotal of P9.6 million worth of smuggled cigarettes has been seized by the Bureau of Customs - Collection District 12-Port of Davao and the Philippine Army’s Task Force Davao, including nine different apprehensions at random checkpoints throughout the second half of 2022.
District Collector Erastus Sandino B. Austria attributed the accomplishment to the partnerships Customs nurtured and built with security and intelligence agencies. He thanked Task Force Davao for their continued support for Customs.
Throughout 2022, the agency has seized over
P245 million worth of petroleum (P116.9million), cigarettes (P110.1 million), vehicles and parts (P15.6 million), agricultural (P1.3 million), and other items (P1.2 million), all suspected of entering the country without proper customs clearance.
Customs Collection
District XII-Port of Davao continues its campaign against smuggling as ordered by Customs Commissioner Yogi Filemon Ruiz.
The apprehensions helped realize President Ferdinand Marcos Jr.’s thrust to level the playing field for businesses and
The Philippine government is exploring global practices to determine how best to implement tax refunds for tourists, Finance Secretary Benjamin Diokno said Friday.
President Ferdinand Bongbong Marcos Jr earlier approved the tax refund for tourists after it was recommended by the Private Sector Advisory Council (PSAC) Tourism Sector Group. It is set to take effect in 2024.
Diokno said the government is likely to tap a
third-party contractor.
“Right now we are trying to find out the most favorable modality. What is the global practice? I think it is a third party...taking care of the refund,” Diokno said during a meeting with the Makati Business Club.
“Usually at the airport yan, instead of the sale
level kasi mataas ang leakage pag ganon eh. Usually sa airport yon. But we are studying it and we will implement it in 2024,” he said.
BIR Commissioner Romeo Lumagui Jr. earler said the agency was eyeing measures to improve revenue generation to offset potential losses from tax refunds.
Diokno said what could help are better tax implementation and computerization.
“To me, right now I am happy with the current tax
system. It is not perfect, it can be improved upon. But maybe we will focus on better tax administration, computerization, etc,” the Finance Chief said.
“In fact we did very well, our revenues were quite high, relative to our program. That is why we were able to pay our debt. In fact our debt-to-GDP ratio is now 60.9 rather than 63, and so that is basically because of the better tax collection and the appreciation of the peso and of course the GDP,” he added.
The city government of Davao has expanded the PalengQR to the Toril Public Market and in partnership with stakeholders, will roll out another onboarding for the said platform at the Agdao Public Market this month.
Davao City Economic Enterprises Offi-
cer-in-Charge Maximo Macalipes Jr., during the I-Speak media forum, bared that after the onboarding activity of the digitized financial platforms at the Bankerohan Public Market last November, the city government - in partnership with the Bangko Sentral ng Pilipinas and the
Department of the Interior and Local Governmentconducted an onboarding activity at the Toril Public Market.
Onboarding means the registration of merchants and stakeholders to eligible banks and electronic money issuers.
“Last month, we have
President Ferdinand R. Marcos Jr. on Thursday met with the board members of the National Economic and Development Authority (NEDA) to discuss projects funded through partnerships with the private sector and the Official Development Assistance (ODA).
Marcos convened the 3rd NEDA Board Meeting at Malacañan Palace’s State Dining Room to receive updates on the new and existing public-private partnership (PPP) and ODA-funded projects, based on a Facebook post by the Office of the President (OP).
cussed,” the OP said. It said the meeting also focused on NEDA’s compliance with Marcos’ directives, as well as other relevant topics for the country’s economic development and progress. State-run Radio Television Malacañang (RTVM), in another Facebook post, said the meeting was attended by NEDA Board members.
that one also in Toril Public Market and for this month we are looking for another onboarding activity at the Agdao Public Market, “ Macalipes said.
Macalipes said that the main purpose of the program is to roll out digitized financial platforms for mi-
The board consists of NEDA director general and Socioeconomic Secretary Arsenio Balisacan, Executive Secretary Lucas Bersamin, Finance Secretary Benjamin Diokno, Public Works Secretary Manuel Bonoan, Trade Secretary Alfredo Pascual, Transportation Secretary Jaime Bautista, Energy Secretary Raphael Lotilla, Budget Secretary Amenah Pangandaman, and Bangko Sentral ng Pilipinas Deputy Governor Francisco Dakila Jr. Special Assistant to F
“President Ferdinand R. Marcos Jr. presided over the 3rd National Economic and Development Authority Board meeting, where the status of Public-Private Partnership projects and Official Development Assistance (ODA) projects, both new and existing, were dis-
Cambodia is exploring opportunities to directly export rice to the Philippines, offering an alternative and cheaper source of rice for the country.
Department of Trade
and Industry (DTI) Secretary Alfredo Pascual met with a Cambodian delegation on Thursday, led by chief executive officer of the state-owned Green Trade Company Chan Sokty and the president of the Cambodia Rice Federation Okhna Chan Sokheang.
Green Trade is the counterpart of DTI’s Philippine International Trading Corp. (PITC).
The Cambodian delegates are also exploring exporting rice through a government-to-government arrangement between Green Trade and PITC.
“They are still in the fact-finding stage. They
The Davao City Economic Enterprises (CEE) generated an income of P177.7 million in 2022, increasing by 26.5 percent from the P140.4 million that the office collected in 2021.
CEE officer-in-charge
the highest-grossing operations cluster accounting for 67.38 percent of the overall income.
are surveying our markets,” Pascual told reporters.
Pascual said Cambodia has a rice surplus of 50 percent of its total rice production, and the Southeast Asian country intends to sell it directly to neighboring countries and also in Europe.
Cambodian rice can enter the Philippine market at 35 percent tariff rate.
Pascual added the Cambodian delegates said they can commit to supply 3 million metric tons of rice to the Philippines, which is the level of imported rice by the country in 2022.
Earlier, Go Negosyo founder and ASEAN Business Advisory Council chair Joey Concepcion said Cambodia expressed intention to directly export unmilled rice to the Phil-
FPH, P10
Maximo P. Macalipes Jr., during Thursday’s I-Speak Forum at the City Hall Conference Room, however, said the 2022 collection only hit 88.18 percent of the 2022 collection target set for the office, amounting to P201,525 million.
“We were just short of
P6.6 million to be at par with the 2019 income collection. Thus, we are bouncing back to pre-pandemic conditions,” he said, adding that they will continue to aim for the missed 2022 collection target this year.
Macalipes said the marketing operations remained
Davao City’s eight public markets generated a total income of P119,731,612.94 or 106.31% of the P112,625,000 target.
He cited the Bankerohan Public Market as the top income grosser among other economic enterprise units in 2022.
Bankerohan, which collected P50,942,641.73, exceeded its P40 million target by 127.36 percent.
Three other public markets also smashed their collection targets, including the Calinan Public Market, Mintal (Tugbok) Public Market, and Agdao Public Market.
Calinan collected P10,942,899.87, surpassing its P9.7 million target by 112.81 percent while Mintal recorded P5,883,532.63 or 106.97 percent of its P5.5 million target, and Agdao had an income of P29,518,477.64 or 105.42 percent of its P28 million
FCITY, P10
The Department of Agriculture (DA) on Thursday said onion farmers have sold P2.589 million worth of onions through its direct market linkage initiative, which removes middlemen.
In a statement, the DA said the initiative was in compliance with President Ferdinand R. Marcos Jr.’s directive to directly link food producers to consumers and institu-
tional buyers.
The President is also the head of the DA.
“In compliance with the President’s directive, the DA enhanced its market linkage initiative to assist farmers’ cooperatives and associations (FCAs) across the country,” the Agriculture Department said.
The initiative, spearheaded by the DA’s Agribusiness and Marketing Assistance Service (AMAS),
resulted in P2.589 million worth of onions sold by the FCAs to institutional buyers from September 2022 to January 2023, composed of 3,478 kilograms of red onions worth P755,455 and 5,106.38 kilograms of white onions worth P1.833 million.
According to the DA, the initiative allowed farmers to earn an additional P90,000 for every 1,000 kilograms.
“Last year, President Marcos announced he is determined to transform the Kadiwa project into a national program, in collaboration with the local government units (LGUs), to provide the public access to more affordable and high-quality merchandise and, at the same time, provide a market to local farmers, fishermen and small business enterprises,” the DA said.
In saying that Davao de Oro is prone to earthquakes as it is along the Philippine fault lines including identified localized fault lines:
“Davao de Oro is transected by the Philippine fault system, part siya ng segment na iyan. Pero sa map namin sa eastern part of Mindanao we have lots of faults. The central, western, and eastern Compostela Valley segment of the Philippine fault. We have the Nabunturan section part of the Philippine fault. There is also the Mati segment, Caraga segment that is part of the Philippine fault line kasama na iyan kung nasaan naganap ang earthquake.”
EDUARDO LAURON Officer in charge, Phivolcs-Davao
Editor
The emergence of Artificial Intelligence (AI) means the birth of a new regime of truth. This is a consequence of a rapidly changing world in which the truth has been reduced into a mere commodity. The good that a society must promote is that which makes its institutions function well. A truth regime is a result of power relations. The structures of human society give birth to the different types of moral discourse. Today, AI answers the questions teachers ask their students during exams. Cheating has metamorphosed into its most modern form. The advance of AI in the field of education is a source of worry. It will result to the demise of human values and the death of authentic commitment to work. What remains of the truth is a symbol. But it is something that will not be able to deliver us from
the fetters of social injustices. AI is the latest form of colonialization that will hold our minds captive. The human world is no longer human. The virtual world is the new reality. In the same way as Plato’s “Allegory of the Cave,” we are its new prisoners. What has happened is that human society has become subservient to the power of the mind put inside the microchip. Institutional displacement means that rules, policies, and ubiquitous memos are more important than warm human beings. It forces many among us to learn and use new gadgets, adapt to modern technology, but also fail to point out the dangers of technological determinism. AI has no respect for persons. All the intelligence contained in one tiny microchip does not include the capacity to distinguish good from bad.
A radical world, however, makes no distinction between morality and politics. Even art has become ideological. Art is not just for art’s sake. It is also the expression of protest and dissent. Pablo Picasso sees it as an instrument for changing the world. In this respect, art must make manifest the truth in terms of the perspective of the cruel human condition. History, in this regard, is something that is a matter of aesthetics. But since power remains at the center of everything, even the meaning of history and the purpose of art must be aligned to it.
The microchip symbolizes the modern world. For the longest time, moral individualism has determined how things must be judged. What is good or bad is no longer rooted in something indestructible. Plato once emphasized that the good is universal,
unchanging, and eternal. But the power of money changed all that. An avatar has replaced the human soul. The good has become a mere garnishing in a world that is clothed in the dark alleys of virtual reality. Happiness is no longer about self-fulfillment. It is about getting viral. People normally exchange goods by determining the value of the same. Economics is no longer based on scarcity but in the capacity of an individual to pay for what has been produced and sold in the market. Transactions become cash-less. In reality, this is capitalism’s way of hiding all its evil. In fact, in the public sphere, algorithms help in getting political leverage. The will of the people is now decided by the ability of a computer to analyze human behavior and influence the same by means of fake news.
By means of online transfers, even vote buying leave no trace. People will sell their moral principles to become part of the digital underworld. Modern society has created a huge marketplace in which people may now choose the kind of life they so desire. It is a life that is based on similitude, image-building, and a public persona, now all found in the internet. In a world that glorifies individual achievement more than anything else, people race against time to create that image of themselves in order to make society believe that happiness is all about online fame and becoming viral. A man spends his whole life desiring to build his mansion or create a name for himself. But in the end, what he actually wants is to be liked by complete strangers and people who mean nothing to him.
Is the Maharlika Investment Fund an idea whose time has come?
This administration thinks so, and therefore wants to pull out all the stops to make it a reality. As things now stand, the MIF is still a work-in-progress. That’s because the Senate has yet to examine the key provisions of the bill proposing its establishment and approve it in plenary. The House of Representatives passed House Bill (HB) 6608 or the proposed Maharlika Investment Fund Act on third and final reading on Dec. 15 last year. It was transmitted to the Senate on Dec. 19.
While the MIF has already hurdled the first stage of its approval, it continues to spark lively debate among various sectors. This is all well and good, as this will guarantee an end-product that’s acceptable to the nation as a whole. What’s clear at this point is that the proposal deserves close scrutiny as it is an investment in the nation’s future and yet another mechanism that will pave the way for a better future for all Filipinos in the years ahead.
The original MIF proposal
The MIF is the Philippine version of the Sovereign Wealth Fund (SWF) now existing in 70 countries which have grown in size over the years. A sovereign wealth fund (SWF) is a stateowned investment fund usually drawn from a country’s surplus revenues or reserves. The government invests these funds in financial and real assets with the target of stabilizing budgets, increasing savings, and promoting economic development.
Congress came up with the MIF concept because, it said, it did not want to impose new taxes that would mean an additional burden for ordinary Filipinos. Instead of taxes, lawmakers decided to tap surplus funds for longterm economic development programs and projects.
The MIF was first proposed in House Bill 6398, or the Maharlika Investment Fund (MIF) Act, with House Speaker Martin Romualdez and six other lawmakers as principal authors.
Originally, its start-up capital was envisioned to come from government financing institutions (GFIs), which will then be placed in a wide range of products, such as foreign currencies, metals, fixed-income instruments, domestic and foreign corporate bonds, listed or unlisted equities, mutual and exchange-traded funds, and real estate,
among others.
The measure proposed an initial investment of PHP250 billion from the Government Service Insurance System (GSIS), Social Security System (SSS), Land Bank of the Philippines, and Development Bank of the Philippines (DBP), as well as PHP25 billion from the national government. Subsequent annual contributions would come from the BSP and the national budget.
HB 6398 wanted to set up a new corporation to be called Maharlika Investment Corporation (MIC). This entity would have its own charter and be supervised by the Securities and Exchange Commission and the Securities Regulation Code.
The MIC would be governed by a Board of Directors with 15 members, including the Secretary of Finance as chair; a Chief Executive Officer; the presidents of the Land Bank of the Philippines and the Development Bank of the Philippines; seven regular members from government financial institutions; and four independent directors from the private sector.
The MIF would be run like a corporation and be completely transparent in its operations. It would have a Risk Management Unit consisting of five members with extensive experience in finance, economics, and investments. The fund would be monitored by a Joint Congressional Oversight Committee composed of five senators and five members of the House of Representatives.
The fund would have three audit layers: internal, external (consisting of internationally accredited auditors), and the Commission on Audit. All the books of accounts of the MIC would be open to scrutiny by the Commission on Audit as mandated by the Philippine Constitution. With built-in mechanisms to ensure zero-tolerance for corruption, the MIF is seen as a key instrument for the country’s socio-economic development.
After the plan to tap the two staterun pension plans for the MIF met with criticism from various quarters, legislators crafted a substitute bill, House Bill 6608, with the Land Bank of the Philippines, Development Bank of the Philippines and the Bangko Sentral ng Pilipinas as main funding sources. This version of the MIF was approved by the House of Representatives on Dec. 19, 2022.
HB 6608 has been further revised to incorporate suggestions from within and outside the legislature. One of the original authors of the MIF bill, Albay (2nd Dist.) Rep. Joey Salceda, revealed that he and three lawmakers had decided to drop the Bangko Sentral ng Pilipinas (BSP) and the Development Bank of the Philippines (DBP) from the list of sources of capital for the MIF, which would instead limit its fund sources only to dividends from government-owned and controlled corporations.
“This will also make MIF a private sector-driven fund rather than one where the government’s exposure is greater. No sovereign guarantees or BSP regulatory reliefs needed, nor are any exemptions from GOCC governance and taxation necessary. Basically, it’s now just securitization of the dividends excluding BSP and no more asset infusion from DBP,” the lawmaker said.
Under the new proposal, some PHP44.3 billion in annual dividends would be securitized, which in 20 years -- at a certain discount rate -- can reach PHP765.96 billion. These would be “real surpluses,” coming from stable government-owned and controlled corporations (GOCCs) like the Philippine Deposit Insurance Corp. and Philippine National Oil Co. The fund will later go public through an initial public offering (IPO), after which GOCCs will no longer be tapped as capital sources. An IPO, Salceda said, can easily raise PHP1.2 trillion.
“The MIF will then be more private-led but definitely it could have public guidance, basically government guidance. There is greater room for private sector participation due to the initial public offering and the private sector majority ownership,” Salceda explained.
Once the MIF is listed on the main board of the Philippine Stock Exchange (PSE), Salceda said, the government would own less than 50 percent and the rest will be private. “There’s so many other big investment banks that are interested in the sovereign development fund,” he added.
Support for the MIF
The country’s economic managers -- Finance Secretary Benjamin Diokno, Budget Secretary Amenah Pangandaman, Socioeconomic Planning Secretary Arsenio Balisacan and BSP Governor Felipe Medalla -- strongly support
the creation of the Maharlika fund.
“The establishment of a Sovereign Wealth Fund is a tried and tested investment vehicle that has been used by governments in both First World and developing countries to achieve their economic objectives,” they said in a statement.
The economic team said the creation of the MWF would help the country achieve the “Agenda for Prosperity” and the objectives for inclusive and sustainable economic growth that they have outlined in the Medium-Term Fiscal Framework, Eight-Point Socioeconomic Agenda and the Philippine Development Plan 2023-2028. They pointed out that direct benefits from the sovereign fund include increased investments in big-ticket infrastructure projects, high-return green and blue projects, and countryside development.
Intergenerational benefits would include increased access by future generations to income from investments, such as mining.
Go Negosyo founder Joey Concepcion said that if the sovereign wealth fund addressed the “trust and timing issues,” it could present “vast investment opportunities” for the country. “Done properly, I think it’s a good idea. It should be managed by the private sector, and then we will see the level of trust move up. If you want the people’s buy-in with this fund, you should assure them that it will be run by people who have no conflicts of interest and are very capable of turning in a profit for the fund.”
Philippine Stock Exchange President Ramon Monzon has also expressed support for the MIF. He believes that the fund’s goal of sustaining infrastructure spending would help spur investments, ultimately benefiting the country’s capital markets. “Since the MIF seeks to attract and invest capital for big-ticket infrastructure projects, sustainable green and blue infrastructures and countryside development, we believe these investments will create a multiplier effect that would attract more fund-raising activities and portfolio investments and in turn contribute to the growth and development of our capital markets,” Monzon pointed out.
The Senate and MIF Senators have vowed to hold discussions and conduct an in-depth analysis of the plan to put up the MIF. Senate President Miguel Zubiri has in-
dicated that the upper chamber “will study through the hearings and plenary debates all measures with a fine-tooth comb.”
Senate Majority Leader Joel Villanueva expressed support for a sovereign wealth fund but stressed that further discussions are needed to ensure that the fund will be managed properly with transparency and accountability. “We also need to pinpoint and clarify the investment objectives and strategies for the fund so that it will be well spent for the betterment of the Filipino people,” he said.
Senate Minority Leader Aquilino “Koko” Pimentel III has also urged intensive debate on the issue: “The Maharlika Fund will have extensive effects and ramifications not only to our generation but potentially to future generations of Filipinos. Hence this should not be rushed. Haste makes waste.”
President Marcos wants the MIF done right
President Bongbong Marcos Jr. wants Congress to thoroughly review the proposed Maharlika Investment Fund as getting it wrong would be “a very bad mistake.”
“Review it carefully. Of course, it is better to finish as soon as possible, but it should not be rushed because it is very important,” Marcos said. “It’s more important to be right than quick. We have to get it right. Getting it wrong would be a very bad mistake,” he emphasized
The Chief Executive also allayed fears of possible money laundering, saying while private money will be involved with the fund, it’s not a savings account where people park money where it stays.
“Now, whenever we come into partnership, we do a G2G (Government-to-Government) with Japan, for example, or we do a PPP (public-private partnership) with some big outfit, then that is only the time that the money has come into the fund to be used for the program…On our end, we will only deploy funds when there is a very specific project to be paid for. So money laundering just won’t come into it,” he said.
With that pronouncement and other built-in safeguards in the bill now pending in the Senate, the MIF that’s now a work-in-progress is likely to stand as a fitting legacy of the Marcos administration to the nation even beyond its term of office in 2028.
Who wouldn’t love the Chinese celebrations, specially the lunar new year? Its colorful lion and dragon dances are a thrill. How about the feast of authentic Chinese delicacies, which for me is the most exciting part of every lunar new year event.
Despite the rigors of work, I made sure to attend the two remaining invites to welcome the Year of the Water Rabbit.
First was Dusit Davao. The hotel shared good fortune including a Dragon and Lion Dance at the lobby for its celebration on January 21, 2023.
DusitD2 Davao and
Dusit Thani Residence
Davao welcomed the lunar new year with a generous array of Chinese dishes, matched with Madayaw Café’s signature favorites.
Madayaw Café featured Chinese and international dishes in the buffet spread, including a generous dimsum station and courses like beef steak, Chinese salad, deep fried salt and
pepper shrimp, seafood canton, steamed fish with black bean sauce, kong pao chicken, and carvery classics.
Of course, Chinese New Year would not be complete without the popular sticky delicacies and at Madayaw Café the sought-after tikoy and butchi were the high-
light of the dessert station.
“We know how much the Chinese community has played a part in the way Davao has evolved through the years, and we would like to give back by giving them a delectable treat here in Dusit. We wish you and your loved ones a bountiful year ahead, and we hope with you that days will continue to be brighter and better,” said GM Christoph Kuch.
Last but not the least invite was Acacia Hotel Davao’s (AHD) on the 22nd of January. From my trip to Guihing, Davao del Sur, I went straight to AHD. I even changed my casual clothes from the trip to a Chinese-inspired red colored attire at the basement of the hotel then enjoyed the lion dance with friends
at the lobby.
The Chinese tradition of marking the lions’ eyes led by resident manager Agot Serrano and Chef de Cuisine Roy Du Ji Kwan of Luk Foo Palace can’t be missed.
AHD ushered in the Year of the Water Rabbit with an abundance of luck for all by showcasing a sumptuous spread of international dishes at the hotel’s Waling Waling Café while Luk Foo Palace, renowned for its authentic Cantonese cuisine, which serves distinct oriental flavors to the dining guests.
Each of us was also given a fortune cookie. Well, no one knows what’s the future brings, some didn’t take the vague prophecy from the fortune cookie to heart while some optimists were a bit excited.
Holcim Philippines’ waste management unit Geocycle is helping 35 cities and municipalities stay clean and divert materials away from landfills.
Leading building solutions provider Holcim Philippines, Inc., converted around a million tons of qualified wastes into alternative fuels and raw materials for cement production in 2022 as it accelerates circular construction in the construction industry.
Through its waste management unit Geocycle, Holcim Philippines made productive use of discarded materials from industries and communities through cement kiln co-processing. This helped the company conserve virgin natural re-
sources and avoid high-carbon traditional fuels such as coal while providing partners a safe and environment-friendly waste management solution.
Among the beneficiaries of the company’s circular economy drive are 35 municipalities and cities nationwide, which were able to divert waste away from landfills. Geocycle also helped industrial partners manage wastes including non-recyclable plastics. Furthermore, the company completed installation of facilities for co-processing ozone-depleting substances.
Aside from these, Geocycle conducted lectures on proper waste management for local governments and
schools and participated in public forms to highlight the importance of resource conservation.
Holcim Philippines President and CEO Horia Adrian: “Co-processing is an important part of our efforts to advance circularity in the construction industry. Our success in reusing discarded materials is further reducing our consumption of natural resources and carbon footprint. This also enables us to help industries and communities achieve their zero waste objectives. We are excited to continue growing our co-processing operations to further contribute to building progress in the country.”
Co-processing is a gov-
ernment-approved and globally-recognized waste management technology that repurposes qualified discarded materials into alternative low-carbon fuels and raw materials in making cement. Among the environmental advantages of co-processing are the extremely high temperatures of kiln and longer treatment time that prevent formation of harmful gasses. There are also no residues to be landfilled.
Holcim Philippines is increasing its use of low-carbon fuels in cement manufacturing to reduce carbon emissions, cut use of virgin raw materials and contribute to managing wastes in the country in a sustainable manner.
structures were damaged becasue of intensity 7,” he said.
Lauron said the recent earthquake is due to the local fault line.
“Davao de Oro is transected by the Philippine fault system, part siya ng segment na iyan. Pero sa map namin sa eastern part of Mindanao we have lots of faults. The central, western, and eastern Compostela Valley segment of the Philippine fault. We have the Nabunturan section part of the Philippine fault. There is also the Mati segment, Caraga segment that
is part of the Philippine fault line kasama na iyan kung nasaan naganap ang earthquake,” he said.
He said a group of quick response teams will be deploying three seismologists to assess the impact of the hazards and the rupture and there might be a new fault to be found in Davao de Oro following the recent quake.
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in both Houses of Congress, but met opposition in Malacanang after President Ferdinand Marcos Jr. vetoed it.
Nordeco is the power distributor of the provinces of Davao del Norte and Davao de Oro including Tagum City and Island Garden City of Samal (IGACOS).
“Maybe with the seismologists they can identify some ground fixture or ground rupture just to identify those localized faults nearby Compostela and New Bataan,” Lauron said.
latest among the anomalies that allegedly Nordeco has committed, pointing out that based on the research of his group, it also showed that among the three electric cooperatives in the Davao Region, it was allegedly collecting higher rates compared with the others even when they sourced their inputs from the same suppliers.
Regional Risk Reduction Management Council in collaboration with the Provincial Disaster Risk Management Offices (PDRMOs) in the provinc-
es is ongoing.
“Ongoing pa ang assessment and we are still consolidating their reports on damaged infrastructure,” she added.
“We look forward to the expansion of the program across all our public markets,” Macalipes said. The Paleng-QR Ph program, jointly developed by the BSP and the DILG, aims to build the digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation, particularly tricycles. CIO
target.
Public markets that failed to reach their collection goals were Toril (P21,762,716.06, 79.72 percent of P27.3 million target); Tibungco
(P343,814.63, 37.17 percent of P925,000 target); Bunawan (P316,971.54, 31,70 percent of P1 million target); and Lasang (P20,609.25, 10.30 percent of P200,000 target).
Amper said that based on the November 2022 billing cycle, Nordeco residential rate was at P16.9425 per kilowatt-hour, while that of Davao del Sur Electric Cooperative was at P13.9326 and Davao Oriental Electric Cooperative only collected P13.4256.
“It is high time for ERC and other regulating agencies to investigate Nordeco. They must stop Nordeco from mulcting from its unsuspecting customers,” it said.
DCM reiterated its call on the government to transfer the franchise area of Nordeco to Davao Light and Power Company, a proposal that gained traction
Meanwhile, operations in the city’s 11 public cemeteries collected a total of P21,624,185.03 or 64.36 percent of the P33.6 million target.
The breakdown of their 2022 collections from the public cemeteries: Bun-
In July last year, Marcos vetoed House Bill 10554, an Act Expanding the Franchise Area of Davao Light and Power Co., Inc. (DLPC).
The said bill would remove the municipalities of New Corella, Asuncion, Talaingod, Kapalong, and San Isidro, the cities of Tagum and Samal in Davao del Norte, and the municipality of Maco in Davao de Oro from the franchise coverage area of Nordeco.
“We hope President Marcos Jr. will reconsider his position and will not allow politics to ruin our aspiration of having a better and more efficient electricity provider in Davao Light. We hope our President will consider our miserable plight as customers,” he said in the statement.
awan - P849,803.85, Calinan - P719,007.81; Lubogan (Toril) - P4,156,935.40; Maa - P1,206,441.40; Mintal - P1,774,289.55; Panacan - P385,168.78; Tagakpan - P61,859,54; TibungcoP3,015,077.87; TugbokP810,084.09; and Wireless
protect the economy as it recovers from the effects of the COVID-19 pandemic.
Warrants of seizure and detention have been issued against the alleged smuggled goods for vi-
the President Secretary Antonio Ernesto Lagdameo Jr., Chief Presidential Legal Counsel Secretary Juan Ponce Enrile, and Presidential Communications Office Secretary Cheloy Velicaria-Garafil were also present during the meeting, RTVM said.
On Jan. 27, Marcos acknowledged the importance of attracting more investments to sustain
- P8,645,516.74.
The slaughterhouse operations in Calinan, Maa, Malagos, and Toril also contributed to CEE’s income with a collection of P23,802,699.77, which is 52.78 percent of the P45.1 million target. CIO
the growth of the Philippine economy.
Meeting with renewable energy developer
Meanwhile, Marcos also had a meeting with renewable energy developer San Ignacio Energy Resources Development Corp. (SIERDC) at Malacañan Palace on Wednesday, the OP said.
It said SIERDC briefed Marcos on the company’s 440-megawatt Peak Solar Power Project in Isabela.
olating Section 1113 in relation to Section 117 and Section 400 of the Republic Act No. 10863, also known as the Customs Modernization and Tariff Act (CMTA). cro-entrepreneurs across the country. Financial service providers such as the Landbank, Asia United Bank, Rizal Commercial Banking Corporation (RCBC), and electronic money issuers Gcash, PayMaya, and StarPay set up booths and accommodated merchants who are yet to open bank accounts in each onboarding activity.
“The meeting provided the President with an opportunity to gain insights into the progress and potential impact of SIERDC’s renewable energy project in the region,” it said.
SIERDC, the RTVM noted, is currently developing more than 440 megawatts of solar photovoltaics and hydro projects in Northern Luzon through a business venture that is expected to bring in PHP18 billion in investment and provide employment to roughly 4,500 workers.
Joining Marcos at the meeting were Lagdameo, Lotilla, and Science and Technology Secretary Renato Solidum Jr., the RTVM said.
SIERDC is part of the Nextnorth Energy Group, which specializes in developing solar and hydro projects in Northern Luzon.
It is involved in the design and construction of renewable energy plants, such as solar and biomass power generation, as well as maintenance and operation of facilities, various inspections, and consulting services. (PNA)
ippines on the sidelines of the ASEAN Summit in November 2022.
Concepcion then said Cambodia exports unprocessed rice to Vietnam, wherein the country processes the rice before exporting to other countries like the Philippines.
More than 80 percent of the country’s rice imports are sourced from Vietnam, according to the Bureau of Plant Industry.
He added that directly buying rice from Cambodia could decrease rice prices in the local market. (PNA)
I had the privilege as a young sportswriter then to follow the Holy Cross of Davao College Crusaders during the time of coach Arthur “Tura” Sumalinog, sports director Abe Verdeprado and Dean of College, Dr. Doroteo Amora.
In the 1990s, Joemer Rubi, John Ferriols, Jojo Luzgano were the popular players at that time, and who were closely followed by Tere Sampaton, our lady sportswriter for the Budyong Wall News of Prof.Eduardo “Edfer” Fernandez, the pride of Monkayo.
Probably, it was luck that I was a working college student at that time because I must take subjects that were offered in the afternoons or early evening. After my evening classes, I will go directly to the Holy Cross gym (that was popularly known as CYO Gym in the 1970s) to check on the play-
ers training and chat briefly with coach Tura. Aside from getting news tips from coach Tura or sports director Abe, I was able to observe their training.
The Crusaders then were regular competitors of the annual Araw ng Dabaw Basketball Tournaments against commercial squads Felcris Supermarket, Montana Pawnshop, Trendsetters, Sunpride Foods Cebu and Lhuillier Pawnshop Cebu. The Crusaders then will carry either the Avis Rent A Car colors or Davies Paints.
After the massive recruitment of the Crusaders by Cebu and Manila teams, came next the new batch of young players. One of them was Jigger Saniel. From time to time, Davao sportswriters would have the chance to see Jigger and the rest of the new batch
of players in regular leagues.
And time just flew so fast.
Today, Jigger is a national basketball champion coach.
Sealcor Kingfishers Davao was their first backer in the elimination rounds and came Prime Bistro and Bullet Customs Brokerage which brought them all the way to the championship round of the First Batang Pilipino Basketball League national finals against Cebu.
Jigger told me that their road to the finals was a seven-month journey. And their dedication to the game gave them a national title. “Nothing comes easy. Grabe gyud, 7 months in the making ni. Sakripisyo ang pamilya, mga amigo, gahin gyud ug panahon.”
No wonder, Jigger as a coach, could no longer hide his tears of joy in the last minute of the game.
They beat Cebu to become a national basketball team champion. Jigger along with coaches Pong Escobal, Tristan Balino and Rolly Sancho, all Holy Crossians, are grateful to the huge support of Attorney Manases “Mans” Carpio, who is turning another leaf on February 8. This is quite a beautiful advance birthday gift to you Atty.Mans of Prime Bistro. Na perfect timing pud Attorney noh?
Let’s sing and dance to the tune of “Moves Like Jigger”!
The coaches are also grateful to the support of Sealcor and to Mark Jade Anting of Bullet Customs Brokerage.
Cebu has been traditionally a powerhouse in basketball and Jigger admitted that they are strong team but after the coaches’ meeting, they found a solution to beat them, 61-52.
Before I finish this column, let us record the names of the title holders and future basketball stars of this country. Xyrhone Lawrence Dalde Ambuat, Jesus Montecalvo III, Junel L. Balansag, Alexander Sebastian B. Decin, Jimz Aaron G. Lulab, John Benedict M. Young, Keith Francis Marquez, Brehmer Penano, Sefh Jason Albiendo, Leeshane Frouze C. Constantino, Juvel G. Dayanan, Shem Joshua D. Bayate, Peter Kofi A. Adabo, John Eimrod G. Rodulfa and John Cedric G. Taray. Rodulfa and Marquez were selected to the Mythical 5.
They are your new basketball idols, ladies and gentlemen!
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For comments, please email mpb_sports@yahoo.com.
Sixth-seeded Philippines bowed to topranked Poland, 1.5-2.5, on Wednesday and fell into a tie for third place after four rounds in the FIDE Chess Olympiad for People with Disabilities at the Crown Plaza Hotel on Wednesday in Belgrade, Serbia.
Henry Roger Lopez bowed to FIDE Master Marcin Molenda after 53 moves of Slav defense on board two, while playing coach NM James Infiesto lost to Pawel Piekielny after 69 moves of French defense on board three.
NM Darry Bernardo managed to win over International Master Piotr Dukaczewski after 51 moves of Caro Kann defense on board four while FIDE Master Sander Severino drew with Grandmaster Marcin Tazbir after 14 moves of Tarrash defense on board one.
The Philippines, Israel, Cuba, Uzbekistan and the International Association of Chess with Physical Disability (IPCA) have identical six points.
Poland, the winner of the 2020 Online Olympiad, is on top of the standings with
eight points followed by India, which has seven points after a 2-2 standoff with Hungary.
In other results, Israel defeated FIDE, 3.5-0.5; Cuba prevailed over Bangladesh, 2.5-1.5; IPCA downed Serbia 2, 3-1; Uzbekistan outplayed Serbia 1, 2.5-1.5; Turkey demolished ICCD, 4-0; Croatia beat Kyrgyzstan, 3.5-0.5; Czech Republic trounced Venezuela, 2.5-1.5; Romania won over Montenegro, 2.5-1.5; Germany clobbered Zambia, 3.5-0.5; Kazakhstan whipped Zimbabwe, 3.50.5; and Panama outclassed Kenya, 3.5-0.5.
The Philippines will next meet Israel, represented by GM Yehuda Gruenfeld, IM Andrei Gurbanov, FM Alexey Streltsov and WFM Aleksandra Aleksandrova. (PNA)
