BusinessDaily (July 2, 2013)

INSIDE LOOK

RDC-11 urges Palace to recall regulatory bodies in Diwalwal

Red tape hampers M’nao RE projs

Ford, Chrysler counter GM with new V6 pickups

Kagay-anons pldge to do their share to change the city

A Respectable Wedding

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Market Indicators As of 6:15 pm july 1, 2013 (Monday)

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PHISIX

US$1 = P43.12

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8 cents

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Briefly Roving academy DAVAO City -- Aspiring Small and Medium Enterprises (SMEs) in the Davao region can increase the chances of setting up their own businesses through the SME Roving Academy.

“The SME Roving Academy is a machinery for information, communication and knowledge creation of Philippine SMES which aims to guide existing or aspiring entrepreneurs establish their own business or sustain existing ones,” Romeo Castañaga of the Department of Trade and Industry said during Monday’s Kapihan held at SM City Annex.

Castañaga said that with t he l aun c hi ng of t he S M E Roving Academy during the 1st Philippine Investment Conference (I-Con) in Davao City last June, entrepreneurs can expect a package of inter ventions to help them start or sustain their businesses.

Forest protection DINAGAT Islands -- Department of Environment and Natural Resources (DENR) Undersecretary for Field Operations Demetrio L. Ignacio, Jr. on Thursday urged the people here to be vigilant in protecting the forest cover of this island province to preserve its natural beauty.

Ignacio visited this remote island in the Eastern Pacific area of the Philippines as honored guest in the inauguration of the new building of the Provincial Environment and Natural Resources Office ( PENRO) under PENRO Agapito Patubo in what is considered as the first national agency set up as provincial office on Dinagat, the newest and the fifth province in the Caraga Region.

USEC Ignacio was accompanied by DENR OIC Regional Executive Director Nonito M. Tamayo and the former RED Leonardo R. Sibbaluca who was considered as one of the DENR officials who initiated the plan for the construction of the building.

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Cagayan de Oro City

Volume III, No. 247

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Tuesday

News

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Feature

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P15.00

July 2, 2013

TO AVERT SENDONG-LIKE DISASTER:

Oca says law on land use must be followed

C

By BUTCH D. ENERIO, Correspondent

AGAYAN de Oro City Mayor Oscar Moreno said that the law on land use must be followed to its intent and not allow people to live in hazardous areas and mitigate disaster.

This, as the mayor took cognizance that his first day in office falls on the 1st day of July, a National Disaster Consciousness Month.

Moreno, said that he will follow through with his campaign promise for Cagayan de Oro-“No more Sendong”- not to have a repeat of the disaster brought about by Typhoon Sendong more than a year ago.

He said that the law on land use must be adhered to and identify areas suitable for habitation and build disaster resilient communities in line with R.A. No. 10121 otherwise known as ‘ The followed/PAGE 11

Newly-elected CDO officials assume posts

By REMEE MONIQUE O. ESPIRITU Reporter

CAGAYAN de Oro City Mayor Oscar Moreno led newly-elected city officials in introducing themselves during the routine f lag raising ceremony as t hey assumed their posts here Monday morning.

Moreno (LP), was joined by former Senate Pre sident Aqu i l i no Pimentel Jr., elected cong ressmen Ru f us Rodriguez (CDP), of the city’s second district, Rolando Uy (LP), of Cagayan de Oro City Mayor Oscar Moreno’s first appearance before the city’s first district, City Hall’s employees during its regular flag raising ceremony yesterday. assume/PAGE 11 photo by rolando sudaria

Misor guv bats for tourism growth, hits mishandling of provincial coffers

By GERRY GORIT, Reporter

NEWLY-elected provincial governor Yevgeny Vincente Emano will push tourism to spur development and generate employment in the province.

Emano led on Monday the first f lag ceremony of his administration at the provincial capitol here.

Emano was joined by majority members of the provincial board led by Vice Governor Joey Pelaez.

Emano said he will push through with his campaign agenda to explore and develop

the tourism potentials of Misamis Oriental.

He said tourism is one of the most viable income generating projects that would spur development and employment anywhere in the country.

Emano said there are various potential tourism areas in Misamis Oriental but the province should establish a stable peace in order to pursue its tourism plan.

He said there are hot tourism/PAGE 11

O P E N I N G S A LV O .

Newly-assumed Misamis Oriental Gov. Yevg e n y “ B a m b i ” E mano f i res of f an opening salvo against his predecessor as he disclosed that the province’s coffer is left with only a little over P5 million, not even enough to p a y ca p i t o l ’s employees one-month s a l a r y, a n d w i t h unpa id PhilHealth contributions.

photo by gerry gorit

Caraga’s economy grows 9.6 percent BUTUAN CITY — National Economic Development Authority-Caraga has said the region’s economy posted the highest growth among the country’s 17 regions with 9.6 percent in 2011, fueled by a 14 percent growth in the industry sector.

NEDA Assistant Regional Director Mayla Faye Aurora B. Cariño told business leaders at t he recent lyconcluded conference in Surigao City that the region’s economic growth “is much higher than the country’s economy/PAGE 11

J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY

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Region 11 employs more workers, but is poorer DAVAO CITY—The Davao Region is set to craft new measures to address the slight increase in poverty in the region, as government planners were surprised at the rate the region had absorbed more workers.

Former Mayor Sara Z. Duterte, former chairman of the Regional Development Cou nci l (R DC), sa id t he measures wou ld be d e t e r m i ne d by t he 2 3 directors of the national government agencies and t he 13 of f icers of nongovernmental organizations under the RDC. The measures would form

part of the new strategic programs of the second midterm sect ion of t he six-year development plan crafted by the RDC in 2011.

An RDC midterm report said poverty incidence of families “or the proportion of families with income falling below the poverty line recorded a slight increase of 1.7 percentage points from

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ECONOMIC GATEWAY. The promise of the Laguindingan Airport in Misamis Oriental, touted to spur economic growth in Mindanao, remains to be seen in an island perennially wracked by conflict and now natural disasters. photo by bong d . fabe

2006 to 2012.”

“The region’s poverty incidence was higher at 28.6 percent in 2012 than the national average of 22.3 percent,” the report said, adding, however, that the incidence level was still higher among the five other regions in Mindanao.

Duterte said it was also a surprise to have the region at the advantageous end of the labor opportunity, posting absorptive rates of 95.4 percent and 95.2 percent in 2011 and 2012, respectively. employs/PAGE 10

Newly-installed DavNor execs Economy safe from overheating—BSP roll up sleeves for resiliency MANILA—THE relationship between money supply and inflation waned the past 18 years so liquidity, which grew the fastest in six years to 16.3 percent in May, should not prove worrisome, monetary authorities said.

Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco Jr. has repeatedly given assurance that the acceleration of money-supply growth in recent months was a welcome rather than a worrisome development.

On Sunday Deputy BSP Governor Diwa C. Guinigundo said while the growth of M3, the technical term for money circulating in the financial system, accelerated from only 13.3 percent in April, its potential

for overheating the economy has sharply diminished.

That much growth translates to money supply totaling P5.3 trillion in an essentially P11-trillion or P12-trillion economy.

“Inflation used to be driven mainly by money supply. This relationship has weakened as early as the mid-1990s. I don’t think an M3 growth [averaging 16.3 percent in May] could lead to higher inf lation or overheating,” Guinigundo said.

The fear of overheating, expressed in the form of high inflation, had been dismissed at various times in the past. On Sunday Guinigundo reiterated the fear of safe/PAGE 10

TAGUM CITY—The newlyinducted provincial officials of Davao del Norte have rolled up their sleeves in attaining climate change adaptive and disaster resilient communities to protect the development gains of the province.

Governor Rodolfo del Rosario on his inaugural address on Sunday said that his new administration shall expand the P.E.O.P.L .E. development strategy and implement programs that

boost disaster preparedness, mitigation, response and rehabilitation in the next three years.

“We w ish to see our communities become better and better prepared,” he said at the jampacked newlyrefurbished RDR Gym and Cultural Center.

D e l R o s a r io h i nt e d t he e f fe c t s of c l i m at e change could hamper the development momentum of the province, which is touted as one of the fast-growing

provinces in Mindanao today.

The last-termer governor d iv u lged t he i mpac t of Ty phoon Pablo last year served as a wake up call, since the province is listed among the top 10 provinces in the country that are vulnerable to disasters.

He cited a recent geostatistics study that disclosed 66 percent of the total land area of t he prov ince or 205,000 hectares are prone to f loods, d roug ht a nd roll/PAGE 10

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roaming bridge with SK Telecom through Aicent’s LTE roaming solution, we are able to broaden our LTE coverage to South Korea, a l low ing subscribers to enjoy seamless and highspeed broadba nd a nd mobile data services,” Rizza Maniego-Eala, Globe head for International Business Group said.

Usi n g A ic e nt ’s LT E Roaming Exchange solution, Globe and SK Telecom can create a continuous and seamless roaming experience for subscribers as they travel between South Korea and the Philippines by offering them transparent and automatic access to LTE services.

With the solution, Globe acquires instant connectivity

t o m ore t h a n 4 5 LT E operators worldwide via Aicent’s extensive network of operators all through a single IP connection.

According to the Bureau of Immigration, f igures showed that close to 1.1 m i l l ion Sout h Korea ns visited the country in 2012, making South Korea the top source of tourists in the Philippines.

Earlier, Globe partnered with China Mobile Hong Kong Co. Ltd. for the same LTE i nter nat iona l d ata roaming service. Moving forward, Globe looks to expand its LTE roaming service with operators from Australia, Singapore, US, Japa n, Ca nada a nd t he Middle East.

in the paper.

The country’s biggest telco is eyeing “up to 60 percent” of Philippine Star, Pangilinan said.

“Right now we have 20 percent, so we’re talking about buying an additional 40 percent. I think we’ll probably do it in two stages of 20-percent each—20 percent this year and the balance of 20 percent maybe next year,” he said.

“Kasi naman we’re happy

THE battle in six-cylinder pickups takes an interesting twist this fall with the launch of the 2014 Ford F-150 Tremor and the 2014 Ram with our relations with the 1500 EcoDiesel. folks at Philippine Star, with the Belmontes. They’re an excellent family,” Pangilinan said.

He said PLDT will buy “principally” the shares of the Belmonte family, and “maybe smaller shareholders.”

PL D T h a s re c e nt l y become majority owner of BusinessWorld, the country’s oldest business newspaper. The telco also owns 18 percent of Philippine Daily Inquirer.

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Ford, Chrysler counter GM with new V6 pickups

PLDT Group eyeing 60% ownership of Philippine Star THE PLDT Group aims to own three-fifths of Philippine Star and become the newspaper’s majority shareholder by next year.

“It’s ongoing. I’m positive about it. We just have to be patient,” Philippine Long Distance Telephone Co chairman Manuel V. Pangilinan told InterAksyon.com and News5 when asked about discussions with Philippine Star to hike the telco’s stake

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Globe taps Aicent for seamless connectivity with SK Telecom GLOBE Telecom on Monday said it has tapped global network services provider Aicent to provide seamless connect iv it y w it h SK Telecom.

Ayala-led Globe entered into an agreement with SK Telecom last April to provide long term evolution (LTE) roaming services to the South Korean telco’s subscribers visiting the Philippines.

“As t he lead ing LTE roaming operator in t he Ph i l ippi ne s , Globe realizes that it has become increasingly more important that we provide our subscribers with LTE coverage not only in the country, but also abroad as they activate their roaming ser v ices. By creat i ng a

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B ot h t r uc k s fe at u re turbocharged V6 engines, but take different approaches to reach different segments of the full-size pickup audience.

The new Ford and Ram entries - one built for speed, the other for high mileage a nd he av y load s - a re hitting the U.S. market as General Motors Co’s recently redesigned 2014 Chevrolet Silverado and GMC Sierra

pic k ups a re b e g i n n i ng to reach U.S. dealers in significant numbers.

Chr ysler Group LLC hopes to d iver t some attention from the new GM trucks with its new 2014 Ram 1500 EcoDiesel, the industry’s first light-duty diesel-powered pickup.

Ford Motor Co is counterpunching with the 2014 Tremor, the industry’s

quickest and most powerful six-cylinder pickup.

The Ram 1500 EcoDiesel features a 3.0-liter turbocha rged V6 d iesel from Italy’s VM Motori, a longtime supplier to Chrysler and an affiliate of the U.S. automaker’s corporate parent Fiat SpA. Fitted with an eight-speed automatic transmission, the EcoDiesel delivers 240 horsepower and 420 poundsfeet of torque. Chrysler said the diesel version of the Ram 1500 w ill deliver better ford/PAGE 11

N E W M AYO R . O s ca r “Oca” S. Moreno, with his family, taking his oath of office as Mayor of Cagayan de Oro City before former Senate President Aquilino “Nene” Pimentel Jr.

photo by bong d . fabe

NEW WINE. Rep. Rolando “Klarex” Uy (1st District, LP) offering a wine, symbolizing the “new wine” that the city’s first legislative district can now enjoy. photo by bong d . fabe

OFFERINGS. Cagayan de Oro City’s new officials, Mayo r Osca r “Oca” Moreno, Rep. Rolando “Klarex Uy (1st District, LP), Rep. Rufus Rodriguez (2 n d D i s t r i c t, C D P) , Rep. Maximo “Maxie” Rod r i g uez (ABA M I N par t ylist) and Sen. Aquilino Martin “Koko” Pimentel III, together with their wives and children of fer gifts during the Eucharistic Celebration, symbolizing the giving of themselves to serve the people of Cagayan de Oro to the best of their abilities. photo by bong d . fabe

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Red tape hampers M’nao RE projs

By BONG SARMIENTO, MindaNews

KORONADAL CITY –The long process of securing permits for renewable energy projects has been delaying the generation of an additional 355 megawatts of electricity for Mindanao, a Department of Energy official.

Mario Marasigan, director of DOE’s Energy Utilization and Management Bureau, said a proponent needs to seek at least 100 signatories to pursue an RE project.

The RE projects, which were awa rded by t he Department of Energy to various companies in the different parts of Mindanao r e c e n t l y, i n c l u d e 4 3

hydropower plants. “ We ’r e w o r k i n g t o drastica lly shor tcut t he process,” he told reporters re c e nt l y i n a n e ne r g y workshop in Manila.

Marasigan said most of the signatories required in pursuing an RE project “are not from the DOE” but from other government agencies, including local governments

down to the barangay level.

He said that for a onem e g aw a t t R E p r o j e c t , t he “ highest number of signatories they monitored reached 139, with just 30 coming from the DOE.” Sources of RE include water, sola r, w i nd a nd geothermal, to name a few.

Until now, Mindanao’s power supply comes mostly f rom R E t hroug h t he hydropower plants operated by the state-owned National Power Corp. (Napocor), at 52 percent of the supply chart.

Rome o Montene g ro, Mindanao Development hampers/PAGE 10

LONG PROCESS. With at least 7 long years to process all the needed documentation for an RE project to take off, it is no surprise that DoE is taking the easy way out to solve the Mindanao power shortage--through coal.

RDC-11 urges Palace to recall SMI will not Philex Mining expects regulatory bodies in Diwalwal affect water lower first-half income DAVAO CITY—The highest economic policy-making body in the Davao region has asked Malacañang to recall two mining regulatory bodies in gold-rich Diwalwal in Monkayo town, Compostela Valley, for their failure to regulate mining activities and for creating a gap in the continuity of government refor m s i n t he for mer conflict-ridden mining area.

T h e Regional Development C ou nci l (RDC) here also called on the Aquino administration to review the efficacy of the National Task Force Diwalwal over its similar failure to function as an overseeing and monitoring body when it was formed in 2003, immediately after the government forcibly took over the management and regulation in that mountain gold-rush area.

The twin moves were actually made last year but the midterm assessment of the RDC last week only said that it already prompted Malacañang to install a field office in Diwalwal, some 25 kilometers southeast of Monkayo town.

T he R D C s a id t h at the “issues and concerns i n Diwa lwa l have been largely attributed to poor management of the area and the presence of two entities handling the mining a nd minera l processing operations in the Diwalwal

supply, quality in Tampakan

GOLD TUNNEL. Residents watch two miners dig a tunnel to look for gold in Diwalwal. photo by mindanews

Mining Reservation Area.”

Malacañang has assigned t he Ph i l ippi ne M i n i ng Development Corp. (PMDC), the corporate arm of the Department of Environment and Natural Resources on matters relating to mining, and the Natural Resources Development Corp. (NRDC), the DENR’s corporate arm on other natural resources.

B o t h a g e nc i e s h ave b e e n c r it ic i z e d i n t he immediate years following the government takeover of Diwalwal in 2003 over the confusion on which one has really designation over the mining activities in the 729-hectare Diwalwal mining and residential community.

The Mines and Geosciences Bureau has also voiced its concern over the absence of the two agencies in the actual operations and management of Diwalwal, saying that both could not

decide on crucial issues l i ke ident i f ic at ion a nd development of a new mines tailings pond away from the mining area, the transfer of gold-processing plants, and issuances of expired mining permits to tenements.

“The absence of NRDC personnel in Diwalwal has been cited as one of the reasons illegal small-scale mining is persistent in the area,” the RDC said in its repor t of t he 2011-2013 accomplishment. The two agencies were created in February 2, 2005, through a memorandum issued by former Cabinet Secretary Ricardo Saludo, and entitled “Designating the functions of the NRDC and the PMDC in the Diwalwal Mineral Reservation Area.”

The RDC resolution last year recommended to the President to revoke Saludo’s urges/PAGE 10

GENERAL SANTOS CITY— The quality and quantity of water in the Tampakan area will not be affected by the Tampakan Gold Copper Project (TGCP) once mining operation starts, according to Orlando Tibang, senior engineer of the National Irrigation Administration in Soccsksargen.

Tibang said technical studies of the local and international experts show that even when SMI starts its mining operation, there will be enough water supply and the quality of water will not be compromised in the Tampakan area and its downstream communities. supply/PAGE 10

PHILEX Mining Corp. said it expects a lower net income in the first half of the year, despite the temporary lifting of its mining suspension.

Company Chairman Manuel V. Pangilinan said the miner’s net income may only increase during the latter part of the year, but this will still depend on the possibility of extending the temporary lifting of the mining suspension.

“We’re looking forward to the possible lifting of the suspension order. We’d like that because it will give certainty to our operations,” Pangilinan said.

For the first quarter of the year, the company said its net income only reached P403.3 million, a steep drop from the previous year’s to P1.26 billion.

The income, however, was mainly from the $25-million settlement of the company’s claim from its pollution liability insurance and the production revenues generated prior to the Padcal accident.

The company’s operations at the Padcal copper-gold mine was suspended on August 1 last year after strong rains damaged its tailings pond. The company has allocated some P1 billion to rehabilitate the affected areas.

The company’s operation only resumed in February after the temporary lifting of the suspension order issued by the Mines and Geo-sciences Bureau, which will expire on July 7. philex/PAGE 10

PHL upgrades disaster mitigating tech Q U E Z O N C I T Y—T h e Depa r t ment of Science and Technology’s (DOST) Project NOAH (Nationwide Operational Assessment of Hazards) is adopting t he d isa ster m it igat i ng technology called InaSAFE from Indonesia.

InaSAFE is an acronym for Indonesia Scena r io Assessment for Emergency. It is an open source technology, which means it is free, readily accessed from the internet and may be modified by users.

With this technology, data coming from weather scientists, local government units and the communities are gathered and consolidated to provide accurate information on future disaster events.

NOA H adopted Indonesis’s InaSAFE as it has a lot in common with the Philippines, especially in topography and natural hazards.

This was disclosed during the multi-stakeholder assembly titled “Enhancing C om mu n it y Re si l ienc e

Through the Use of New Technology” conducted by Project NOAH recently held at the Oracle Hotel.

Abigail Baca, disaster and risk management officer of the World Bank East Asia and Pacific Region said that InaSAFE proved effective during the recent floods in Jakarta, Indonesia and it can be applied in the Philippines.

Dr. Alfredo Francisco Mahar Lagmay of Project N OA H d i s c l o s e d t h a t InaSAFE will be integrated upgrades/PAGE 10

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When you’re in Zamboanga and Pagadian City, read...

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Moreno relives history with June 30 inaugural

By Antonio J. Montalvan II

Oscar S. Moreno has personally chosen what is the most historically apt venue for the inaugural of a Cagayan de Oro city mayor.

The kiosko at Divisoria was known in the early days as the Tribuna, a forum for addressing big assemblies of the Cagayan citizenry.

Its location at the center of the city is not unintended.

As the heart of the 1901 Plaza Divisoria, it is also the city’s soul. Here lies the posterity of momentous events of the past that shaped the history and culture of the Cagayan de Oro people.

Moreno’s inaugural this Sunday June 30 will take place near the same spot where the country’s first president Emilio Aguinaldo addressed the great throng that welcomed his visit to Cagayan de Misamis on October 5, 1924.

On that day, Cagayan citizens came out in droves to listen to the man whose cause they fought for only a quarter of a century earlier during the Philippine-American War in Cagayan in 1899-1901.

The men of Cagayan who came to listen to Aguinaldo talk from a make-shift stage that faced Calle Mindanao (today Tiano Brothers Street) came dressed in what was de rigueur of the day – white suits and hats.

After Aguinaldo’s Divisoria rally, he retired to the house of Apolinar Velez where luncheon was served in his honor.

It was also from the Tribuna on National Heroes Day of November 30, 1955 that the three Tiano Brothers were officially

recognized by the city and given honors for their individual valor, for a country that they did not die in vain for. Here their bereaved mother Emilia Bacarrisas Tiano received the posthumous honor for her three fallen sons.

The Tribuna is sacred ground rendered from the heroism of the brothers Tiano.

From the great Tribuna echoed the orations of the city’s historical titans – Emmanuel Pelaez who became Vice President, Justiniano R. Borja who remains the city’s greatest mayor, Aquilino “Nene” Pimentel, Jr. who became Senate President, to join with the cause of the common folks whose aspirations and dreams for a beloved city they continue to cherish. Moreno will re-live history this Sunday.

It was here only a few moons ago that the people of

Cagayan de Oro exercised their constitutional right to recall the only dictator in the city’s history, Vicente Emano who is not from Cagayan de Oro and had no love for Cagayan de Oro, under the very shadow of the maverick JR Borja cast in stone by the National Artist Napoleon Abueva who Emano thought he would follow in history by his becoming the “second JR Borja.” Dictators have crazy dreams.

The inauguration of Oscar S. Moreno this Sunday is not just the inauguration of a new mayor.

With this event, we restore back the glory of the old Divisoria and the Tribuna, so that the people of Cagayan de Oro will enjoy the benefits of this open space of history and culture as intended by those who designed it for that noble purpose.

Kagay-anons pledge to do their share to change the city

By BONG D. FABE

UNLIKE other oath-taking c e r e m on i e s of e l e c t e d officials, Cagayan de Oro City scored a historic first as Kagay-anons themselves took an oath together with their elected officials and pledged to do their fair share in making the change they wanted so much become reality.

Reciting the Panumpa alang sa Pakigtambayayong sa Hapsay ug Malungtarong Pang-gobyerno ug Kalambuan sa Dakbayan (Pledge of Cooperat ion for an Orderly and Sustainable Governance and

Development of the City), Kagay-anons and elected officials pledged unity in instituting five “reforms” the city direly need.

Archbishop Antonio J. Ledesma, during his homily earlier, reminded everyone of their responsibilities as citizens of Cagayan de Oro. Ledesma said t hat i nst it ut i ng t he cha nges is not just the work and responsibility of the elected officials but the work of everyone.

Prefacing t he Pledge was a recall of the total deprivation of the people of

the true development and haphazard delivery of basic services for years under the past administration, which became the foundation of the people’s struggle during the last May elections to be freed from the clutches of incompetent officials. It also served as a launching pad for good governance and sustainable development.

The Pledge also recalled t h at t he K a g ay- a non s’ v ictor y at the polls was founded on the people’s hunger for good governance.

And that victory became t he fou nd at ion of t he

PLEDGE OF COOPERATION. Lawyer James Judith III (in polo shirt) along with other Kagay-anons who attended and witness Sunday morning oath-taking and inauguration ceremonies of the city’s new officials, pledge their cooperation with the city government in instituting the changes they wanted so direly in the city. photo by bong d . fabe

people’s cooperation with the elected officials in order to bring to rea lit y what they so over whelmingly spelled out during the last elections — good and orderly governance.

But t he Ple d ge a l s o showed that despite winning a resounding victory last May, it is not enough. Kagayanons themselves must work to ma ke t heir dream of good and orderly governance become a reality.

T hu s , t h e y ple d ge d “to cooperate w it h t he new officials and leaders, together with the different groups and institutions to

Vice Governor-elect Jose Marie Pelaez takes his oath of office before Representative Yevgeny Vincente Emano, governor-elect of Misamis Oriental, on June 27, 2013, at the San Isidro Parish in Medina, Misamis Oriental. VG Pelaez vows to pursue his programs in education during his first 100 days in office and beyond, even as he said that hewill be in support of the programs and projects of Governor-elect Emano. (Photo courtesy of the Office of Vice Governor-elect JM Pelaez)

build a new Cagayan de Oro City that is (1) orderly and clean—where people are secured; (2) vigilant for the environment—people are aware and work for the protection and development of t he env ironment; (3) respect for the different culture and religions of the people—people give due importance to their culture, history and faith in one God amid the development a nd moderni z at ion; (4) st rong a nd su st a i nable de velopment— w here the people, especially the poor and marginalized are given the chance to develop

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their economic status in a secure way through honest labor; (5) respect the law— where people themselves protect democracy through cooperation with government; and (6) work for the restoration of the image of Cagayan de Oro City—a city that is developed, a city that respects human rights, justice; and a city that is the center of government and economic development in the entire Mindanao.

“All these can be done and achieved through and with the people’s faith and blessing in/of The Almighty,” the people acknowledged.

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Live before you leave THINK

hink a minute…They say, “The greatest risk is not A Minute taking one.”

By Jhan Tiafau Hurst Why is it when we grow up and become adults, we stop sticking our necks out and taking chances?

Yet, at the end of our life, we’ll probably regret the things we did not do more than the things we did.

Remember all the new things in life you learned to do that were big risks the first time you did them?

Your first time to swim, your first time to ride a bicycle, your first time to drive a car.

Some of the things we do all the time now seemed almost impossible before we did them the first time.

The great French leader, Napolean, said: “The word impossible is found only in the dictionary of fools and failures.”

So ask yourself: “Is the word impossible in the dictionary of my life?”

Do you say “I can’t” more often than you say “I can?”

Sometimes “you have to go out on a limb if you want to get the best fruit!”

We have to learn to be comfortable with uncomfortable challenges, because we can’t discover new oceans unless we’ve got the courage to lose sight of the shore.

We need to believe that the best jobs haven’t been found yet, and the best work hasn’t been done yet.

But we can’t have the life we want if we don’t change the life we have.

A successful woman said: “A bad habit never goes away by itself; it’s always an undo-it-yourself project.”

Smart people sometimes change their minds—but fools never do.

So we have to leave our comfort zone if we want to reach a new kind of success. hurst/PAGE 7

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n 1955, British author and historian Cyril Northcote Parkinson first made the observation in The Economist that “work expands so as to fill the time available for its completion.” This became known as Parkinson’s Law. An important economic corollary to this law goes: “The demand upon a resource tends to expand to match the supply of that resource.” Stated much simpler for the layperson, “expenses rise to meet income.” Such occurrence is so commonplace that not doing so may be tantamount to avoiding the bandwagon. However, if somebody would say that indeed, some laws are meant to be broken, then this law should be at the topmost!

If financial security is summarized by learning the appropriate cycle of earning, saving, investing and protecting your wealth and assets (the E-S-I-P paradigm), then ascribing to Parkinson’s law may be taken as one of the biggest culprits responsible for breaking this cycle.

Someone gets overjoyed getting a raise. And with that raise comes the hope of expecting a much bigger breathing space, with money not anymore limited just “to make ends meet.” Life seems to get a little better but a few months later, it’s all back to basic and budget gets tight as how it used to be. A very common story that befalls almost every Tom, Dick and Harry.

We might ask the big “why”? Why did it happen?

Where did all the extra money go? But as science would say, “nature abhors a vacuum.” Psychology and human nature kicks in. When funds are lacking, needs are needs and wants are wants. But when some extra funds come in, new expenses are created and wants become sugar-coated “needs.” With the extra money, many people would get

L

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the immediate urge to say: “Let’s burn it!” So long as Financial D octor there’s money in their pockets,

By Adonis Agcopra there is always a thousand and one ways to spending it.

Discipline is an often used word. But when it comes to money, the temptation to enjoy short term gain easily erodes the value of discipline.

Attaining long term security and stability gets pushed aside when the icing on the cake seems more luscious than the cake itself.

But people often get a hazy vision of their future when long term gain is blurred by the sparkle of what’s fun and easy now. Delayed gratification can be a conscious choice of looking forward to a life of long-term gain with less worries while initially sacrificing with short-term pain. When rewards are genuine, they necessarily come later.

Be a lawbreaker for once. Doing so perhaps can even help you avoid spending a life of long-term agony and pain because of the short-term gains you’ve opted to prioritize early on. Break Parkinson’s Law. Do it now!

---- (Dr. Adonis Agcopra, MBA, CIS, RFC® is with the IARFC and is portfolio director of AFIC Meridian Consultants. URL: www.aficfinancialconsultants.com.

Email: aficfinancialconsultants@outlook.com.)

THE

More votes than voters in 2013 polls

IFE’S INSPIRATIONS: “… Truth is nowhere to be found, and whoever shuns evil becomes a prey.

The Lord looked and was displeased that there was no justice…” (Isaiah 59:15, the Holy Bible).

-ooo EXCESS VOTES, WHERE DID THEY COME FROM? Here is a question for the Commission on Elections: is it possible that the total number of votes of all the candidates for a particular position contested in the May 2013 elections, like the position of a town or city mayor for example, would exceed the total number of ballots counted by the precinct count optical scan (PCOS) machines?

To illustrate this question in a more understandable manner, let me use this example: let us say that in particular city, there were four candidates for mayor, and let us say that the total number of votes that were credited to them by the Comelec is 2,000. However, the statement of votes coming from the PCOS machines themselves are saying that there were only 1,000 ballots that were cast and actually counted.

Surely, even a mere grade one student will tell the Comelec and all of us that this is not at all possible, for how can there be more votes credited to the candidates than the actual number of ballots that were cast and counted by

the PCOS machines? Possibly, ak ampi the total number of votes Mo A ng Batas credited to the candidates

By Atty. Batas Mauricio should at least be similar or equal to the total number of ballots that were counted, or even lesser than the number of ballots, right? It could not be otherwise.

-ooo MOR E VOTES THAN VOTERS IN 2013 POLLS: That is the reason why, in the petition which a group of Pasay City residents filed with the Comelec last June 25, 2013 seeking a declaration of failure elections in the city, the residents are asking the poll body to order a manual counting of the votes cast last May 13, 2013, for in at least 300 precincts in the city’s District 1, there were more votes credited to the four candidates for mayor, than there were ballots counted by the PCOS machines.

The petitioners-residents charged: “Why are Petitioners Batas/PAGE 7

K

Thrift Banks - for broader horizons

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had the privilege of witnessing the changing of the guard of the Chamber of Thrift Banks during CTB’s recent annual convention.

TG Limcaoco, president of BPI Family Bank, took over the helms of the chamber from Patrick Cheng, president of HSBC Savings Bank.

It was an auspicious occasion for the thrift bankers whose convention theme was Building for Broader Horizons in 2013.

The event was graced by BSP Governor Amando M. Tetangco, Jr., BSP Monetary Board Members (Peter Favila, Andy Suratos, and this writer), Deputy Governor Nesting Espenilla, and other BSP senior officials.

Gigi Montinola, president of Bank of PI, himself a former president of the Chamber of Thrift Banks, was also a guest and a resource speaker during the convention’s morning session.

For our non-banker readers, thrift banks, refer to that classification of banks which consist of savings banks, private development banks and savings and loans associations. In terms of size and banking activities, thrift banks occupy a notch below commercial banks but above rural banks.

Thrift banks focus on retail lending, specializing in such areas as small business loans, housing, auto and personal loans. I got my first car loan and subsequently my house improvement loan from a thrift bank.

As TG Limcaoco aptly put it, “Thrift banking is not about thrift, but really, about financial inclusion. In the early days, and even up to today, thrift banks set themselves up in areas where the larger commercial banks were hesitant

to open.”

Today, thrift banks are O ut present throughout the country

By Ignacio Bunye through 1,600 branches, 70 per cent of which are located outside Metro Manila. It is estimated that thrift banks provide banking and bankrelated services to close to 5 million Filipinos.

In 2012, the thrift banking i ndust r y g rew it s a sset s almost 10 percent to P666.17 billion. Compare that to the situation years ago when, as Gigi Montinola described it, “the sum of the entire thrift bank industry then (was) the size of one major thrift bank today, both from the asset and capital perspective.”

With respectable asset growth and an expanding network, Limcaoco said: “We can and should be the engines of the countryside.”

But to be able to do that we need “ to build our skills, our capabilities, our institutions so that we can do more for our customer base.”

Taking the cue from the BSP, Limcaoco added: “We need to take a leadership role in financial literacy so the general population understands how to use the financial system responsibly and to their benefit.”

The road ahead for the entire banking industry looks Bunye/PAGE 7

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Hurst... from page 6

Don’t allow yourself to be buried alive in your comfort zone, like many people do.

It ’s OK to u se you r comfort zone to rest in, but not to live in. So after you’ve recharged your energy, leave your comfort zone to move on to your next challenge.

Remember, God never puts limits on your faith, so your faith should never put limits on Him. Faith is not afraid of failing; faith is afraid of not even trying.

So why not ask Jesus Christ to give you His faith and power to step out and start changing your life today?

If you ask Him to take charge, then He will help you fully live your life—before you leave it. Just Think a Minute…

Batas... from page 6

saying that there was a failure of elections in Pasay City during the May 13, 2013 elections? The first reason is that, the results that led to t he procla mat ion of the Respondent as mayorelect were statistically and mathematically improbable, and appeared to have been the product of massive electronic and automated fraud arising from glaring, blatant and deliberate v iolat ions of Republic Act 8792, which is otherwise known as the

Electronic Commerce Act of 2000…

“It is (also) because their examination of the official statement of votes which they gathered initially from 300 precincts in the city showed t hat t he electronic data reflected in those statement of votes and produced by the PCOS machines in those precincts did not match with one another, so that the electronic data used in proclaiming the Respondent could not be authenticated in the manner prescribed

by Sections 6, 7, 11, and 12, among others, of Republic Act 8792…

-ooo VALIDITY OF PASAY C I T Y P OL L R E S U LT S QUESTIONED: The petitioners then went on further to explain: “To show this in more concrete form: In Clustered Precincts 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 20, 21, 22, 23, 24, 25, 27, 28, 46, 47, 48 and 49 under District 1 of Pasay City, the total number of ballots that were allegedly counted by the PCOS machines (as shown by the official statement of votes) amounted to only 7,547, but, the total number of all votes credited to all the four mayoralty candidates totaled a whooping 9,045.

“For the record, copies of the statement of votes for all these clustered precincts--Clustered Precincts 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 20, 21, 22, 23, 24, 25, 27, 28, 46, 47, 48 and 49---are attached and

made part hereof as Annexes A, A-1, A-2, and series.

Clearly, there was here an inexplicable, and therefore, greatly fraudulent, mismatch of electronic data culled from the official statement of votes themselves, which showed an excess of 1,858 votes that the PCOS machines supposedly counted.

“The question therefore here is this: how can the electronic data coming from these precincts be considered as legal basis for proclaiming the Respondent as mayorelect when, very clearly, they do not even tally with one another, and could not therefore be authenticated according to Republic Act 8792?” There is more of this petition in next issue, God willing!

-ooo REACTIONS? Please call me at 0917 984 24 68, 0918 574 0193, 0922 833 43 96. Email: batasmauricio@yahoo.com, mmauriciojr111@gmail.com.

LIFE’S INSPIR ATIONS: “… Truth is nowhere to be found, and whoever shuns evil becomes a prey.

The Lord looked and was displeased that there was no justice…” (Isaiah 59:15, the Holy Bible).

Bunye... from page 6

rosy – thanks to a strong growth-low inf lation rate scenario, a robust external position, stronger consumer con f idenc e , a nd ju st a

few days ago – a country investment grade rating.

But the industry needs to do more. To further broaden the thrift banking industry’s horizon, Governor Tetangco and Gigi Montinola lef t precious words of advice for the thrift bankers.

Du r i ng t he recent Chamber of Thrift Banks (CTB) annual convention, BSP Governor Amando M. Tetangco, Jr. and former CTB President Gigi Montinola, had these words of advice for the CTB. Specifically, the chamber could broaden its horizons by elevating its vantage point.

In other words, thrift banks should see the big picture.

Let me paraphrase Governor Tetangco.

As market opportunities expand, we need to also work together so we can maintain strong credit discipline and avoid imprudent lending and investments.

In a low-interest-rate sit u at ion, accord i ng to Tetangco, banks may be tempted to cha se a f ter higher yields. This should not distract banks from maintaining, even tightening, their credit underwriting standards not just for real estate activities (as the BSP recent ly ma ndated) but also for auto loans, credit card receivables and other consumer loans.

“This is to ensure that we don’t end up financing lemons.”

Tetangco also urged the

chamber to also “actively participate in the culture and practice of financial education and consumer protection.”

“These are not just fancy buzz words. In fact, in the BSP, we take these twin advocacies seriously. We undertake outreaches to raise the awareness of the financial consumer so that each of them can make informed s av i ng a nd i nve st ment choices.

“Thrift banks need to consider lending more to the MSME economic segment. A healthier MSME sector will help ensure our economic growth is broad-based and inclusive.

“Thrift banks, however, must not just lend more in terms of nominal amounts.

The challenge to the industry really is to ensure that such lending continuously creates further opportunities.”

For his part, Montinola said that if he were still a president of a thrift bank, he would always keep the following in mind: “Product performance is now as important as personal relationship, and multi bank banking is becoming the norm, and not the exception.

“Therefore, thrift banks must invest in analyzing customer needs, developing products to suit their needs, and training their staff to appropr iately sel l t hei r products.

“Second, bank owners in the Philippines must commit

7

to professionalize their banks or fall by the wayside. Bank owners should stick to their other businesses and let the professionals run their banks.

“Third, unless banking is your main business, I think that there are merits in either partnering with a number of other banks or even going in the merger and consolidation route. The alternative will be to keep the bank small and well managed, focusing on a particular niche area.”

Points very well taken, indeed.

Note: My book Central Bank ing for Ever y Juan and Maria is now available at the following outlets: Fully Booked – Bonifacio Global City, Powerplant Mall Rockwell, Katipunan.

Power Books – Alabang Town Center, Greenbelt 4, Serend ra. Nat iona l Book Store – Greenbelt 1, Powerplant Mall Rockwell, Cash and Carry, Market Market, SM Mega Mall. And UP University Press.

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by Zola Gonzalez-Macarambon

Last week, I made the respectable choice to catch the last run of The Xavier Stage adaptation of Bertolt Brecht’s, A Respectable Wedding, written by Bonifacio Ilagan and directed by Hobart Savior.

It was between that and scouring the ukay-ukay stalls of the Divisoria Night Market (where writer-teacher salaries go to die). It was a moist Friday night; my Drama class and I had the best seats on the 7th row.

I was flanked on both sides by wideeyed juniors ready to flex some analytical muscle, having just gone through a forcereading of Gustav Freytag’s Die Technik des Dramas. We were in a good place.

A Respectable Wedding is about the botched wedding reception of newlyweds Justin and Bea at the Le Chic Hotel.

The production team did their homework and established the irony well enough with a set of wall papering in faded floral print and wrought metal furniture which could have surely been en vogue when Le Chic was “The Hotel” to be in the 70s.

Eustaquio, a shadowy ex-politician whom the bride’s mother Concha keeps referring to as “Tacki” sponsors the post-wedding party. Complications arise when the hotel management announces a bounced check. After quick arrangements by the groom’s father with the hotel manager who happens to be an old acquaintance, the play ends with a hundred and fifty people to be fed, reconciliations, the family still intact but not without a few secrets exposed and certain dignities compromised.

Mary Ellen Obach’s performance as Concha was particularly stellar. Her middle-aged mother-of-the-bride was endearing in the self-conscious and doting way some of her kind are actually like on or off weddings.

Obach glided through the play, delivering her lines in perfect beat and timing, it sounded as natural as breathing.

She played Concha out to be more complex than all the other characters onstage.

She was the only one who has a hint of an interesting past – the Tacki she kept referring to was an old lover and potential father of the bride. It’s interesting how Obach made this hung-up woman with an unreliable personal history seem charming as a new mother-in-law with flirtatious inclinations towards the groom’s father.

Equally delightful were Rosell Velez and Micka Angela Virtudazo who played the convincing two-person staff of the decrepit Le Chic Hotel.

As waiting people running around at the inconsolable bride’s bidding, they managed to reach the far end of the little theater with their presence as a humble couple on the job at a crumbling hotel while trying to keep a personal

relationship solid.

Was it not only a year or two in the past when I wrote about voices barely projecting to me in the front seat of another Xavier Stage play?

It’s amazing what the director Hobart Savior has done with acting potential in so short a time in his company of young actors.

However, there are a few open cans of worms strewn and left untouched throughout the plot like the social and political overtures of a recent election and bombings which happen simultaneously with the wedding reception.

It’s also cringe inducing how broken legs on chairs served only laughs when the characters fell on their behinds when it could have lent such significance as metaphor in a family play. One scene also seemed carelessly portrayed, a chandelier scene which was the main actors’ last chance to show the specialness of the newlyweds’ relationship so that a broken light fixture will cease to be a problem but a chance to kiss and play.

My Drama students filed out of the theater entertained and thoughtfully occupied. They had so many questions, I asked them to save it all for class. The few who took to walking with me out the University gate said they’ll take any of these play nights over another doing the bars and videoke route with their friends.

They seemed sincere. Of course, that could have easily been a bluff for points.

Eitherways, it was a great play, a good night.

When you’re in Cagayan de Oro, read...

REKINDLING THE RHYTHM OF LOVE . Cagayan de Oro local artist Jetaime Yamut performs with the multi-awarded singer-composer Jose Mari Chan in a benefit concert at the Limketkai Atrium, June 29. The concert dubbed as “Rekindling the Rhythm of Love” was organized by the Congregation of the Blessed Sacrament, Sacred Heart Parish and LITES Ministry Core Team - Cagayan de Oro. Proceeds will go to the Eucharistic Evangelization Services in Northern Mindanao in the Year of Faith and Beyond. Photo by RONALD MASTAIL

Filomeno A. Bautista Jr. , whose story was chosen as the top prize winner of the recently concluded Philippine Veterans Bank and Inquirer in Education 2013 world War II True Stories writing contest, written by his grand daughter Celine Marie Bautista Itchon of St. Mary's High School in Cagayan de Oro , shakes the hand of Mayor-elect Oscar “Oca” Moreno, as Philippine Veterans Bank VP MIguel Angelo C. Villa-Real looks on. PVB’s “War of our Fathers” traveling exhibit will run at the 2nd floor of the SM City Cagayan de Oro from June 29 - July 9, 2013.

Photo by Shaun Alejandrae Yap Uy

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Hampers... from page 4

Aut hor it y d i re c tor for investment promotion and public affairs, said that while the government is pushing for renewable energy to help stabilize power supply in the island, committed and indicative investments in the area are still dominated by fossil fuel sources.

“Coal is the in thing,” he said of the new and potential power generating facilities coming up in Mindanao.

The share of fossil fuels in the island’s energy mix is rising and we have yet to fully tap clean, renewable and indigenous power sources to minimize the environment cost, Montenegro said.

To develop an RE project, he said the developer needs at least seven years to get approvals and another two years for the permitting process Montenegro said t he committed power generating projects that are expected to go on stream in Mindanao between this year to 2016 can produce 580 MW–of which 500 MW is from coal, 30 MW from oil and 50 MW from geothermal.

On t he ot her ha nd , Montenegro said that as of March 2013, the indicative coa l power projects for M i nd a n a o w it h t a r ge t commissioning until 2020 reached 1,825 MW, of which 1,200 MW is proposed by diversified beverage giant San Miguel Corp.

The indicative RE projects in Mindanao, also as of March 2013, would produce only 107 MW, he added.

Mindanao’s power supply problem will persist if no new generation facilities will go on stream in the next two to three years, Montenegro noted.

Nowadays, Mindanao has sufficient power supply, but the brownouts that hit parts of the island lasting up to eight hours daily a few months ago would be back starting August up to December because power plants are scheduled to go on preventive maintenance shutdown, he said.

The brownouts that hit parts of Mindanao prior to the May 13 elections were bla med on t he reduced generation capabilit y of Napocor’s hydropower plants due to the dams’ declining water level.

Urges... from page 4

memorandum.

A separate resolution also issued last year has

re c om mende d c re at i ng a regional body to assess t he ef fectiveness of t he task force Diwalwal after it said that nine years after the government takeover of Diwalwal, mining and conf lict-related incidences and problems continued to hound the area.

The worst report came last year indicating that only 10 percent of the estimated gold output of small-scale mining were sold to the Bangko Sentral ng Pilipinas, and believed to have been smuggled to the black market.

The economic development committee of the RDC has submitted to the RDC but it was yet to act on it as of last week.

However, former Davao City Mayor Sara Duterte, who is also the outgoing chairman of RDC Davao region, said that a development plan for the Diwalwal Mineral Reservation Area was already approved and endorsed by the program monitoring and coordination center of the task force. (BM)

Supply...

from page 4 Tibang said SMI espouses and practices responsible mining.

“SMI will not use any tox ic chem ic a ls du r i ng its operation and ensures monitoring is done regularly,” he added. (BM)

Philex... from page 4

“For the first half of last year, we were fully operational and the last half will be [lost] [because of the mine spill].

So it’s just a matter of time.

We operated last year by full six months and now we just operated for only four months,” Pangilinan said.

Philex Mining is set to implement a stock rights offering in July, proceeds of which will be used to repay loans from controlling shareholder First Pacific Group. (BM)

Upgrades...

from page 4 i nto P roje c t NOA H to supplement ex isting technologies used to mitigate, if not totally prevent, massive d e s t r u c t ion c au s e d by strong typhoons similar to Sendong in 2011 and Pablo in December 2012.

During his presentation, Dr. Lag may sa id, “It is i mpor ta nt to develop i n for mat ion to ol s t hat w i l l help centra lise risk informat ion at t he NOAH website and make them available to a wider community.”

S i nc e it s l au nc h i n Ju ly 2 012 i n Ma r i k i na City, Project NOAH has continuously upgraded and strengthened its capability t h roug h i nsta l lat ion of various weather forecasting e q u i p m e nt i n v a r i o u s disaster-prone areas in the country. Among these are the Hydromet water level sensors and Doppler radars used to measure amount of rainfall in a specific area.

To date, there are 525 Hydromet sensors installed in different river systems including those in Tullahan River, Marikina River and San Juan River in Metro Manila.

Likewise, the Project NOAH team has put up billboards in Pampanga showing flood maps to inform residents of the high-risk areas in their communities.

Further, Dr. Enrico C. Paringit, project leader of NOAH’s DREAM LiDAR (Disaster Risk and Exposure Assessment for MitigationLight Detection and Ranging) said, “ Since November 2012, we were able to do threedimensional or 3D mapping of the Pampanga river basin, Agno River, Cagayan de Oro and Iligan. By the end of May this year, 3D mapping for Iloilo will be complete and next in line is the Panay river basin.” (Eco-Business)

Employs... from page 2

“We want to address this poverty incidence,” she said.

Duterte said during the past three years, the region posted steady economic growth.

Duterte made her exit State of the Region Address in the RDC, leaving vacant the chairman’s seat of the highest policy-making development body in the region.

The poverty situation was a priority concern the RDC should address in the final midterm of the plan, she told reporters at the RDC office, after addressing the second quarterly meeting last Wednesday.

She s a id t he re g ion sustained a decline in overall economic grow th in the period 2009 to 2011, which she said was due to higher energy and oil prices, the preference of small-scale m i ner s f rom D iw a lw a l and the Boringot areas of Compostela Valley to sell their gold to the black market, the slower recovery of the US and European economies that limited the options of Davao exporters, the quality issues of banana exports here and the devastating impacts of climate change.

He sa id t hese wou ld

be the issues that must be confronted by the next RDC leadership during their 2014 to 2016 term. (BM)

Safe... from page 2

of fast-rising inflation over the near term is a remote possibility.

“The double-digit growth in M3 can actually provide greater support for economic activities in the context of t he Philippines’s robust economic growth. We believe overheating is a remote issue because the potential capacity of the economy has gone up. In addition, productivity has improved while efficiency appears to have also climbed in recent years. Most important, there is no evidence yet that the economy is beginning to overexpand,” Guinigundo said.

His assertion is based on latest data on bank lending, which grew at a faster pace in May to 13.1 percent, or to P3.523 trillion from only P3.111 trillion a year earlier.

“The continued brisk grow th in bank lending suggests adequate funding for domestic economic activity in the months ahead. Going forward, the BSP will continue to monitor the domestic financial environment to ensure that liquidity and credit conditions remain supportive of the expanding domestic economy while remaining consistent with its price stability objective,” the BSP said in a statement.

(BM)

Loreto, Agusan del Sur, into a national road.

Regiona l Tria l Court Branch 2 Judge Ma. Susana Baua administered the oath of office of the governor, a long w it h t hat of Vice

Gov. Victorio Suaybaguio, 1st District Congressman Antonio Rafael del Rosario, 2nd District Congressman Antonio Ernesto Lagdameo, Jr. and all the board members of the two districts. (PNA)

A dver t iseaoznithnee hot te st m a g in

C D O!

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landslides, which are the three most prominent effects of global climate change.

Yet, the governor said t he prov ince sha l l f irm up the positive behavior and culture of safety of the Dabaonon people to ensure the hard-earned success of the province will not come to naught.

Del Rosario assured that better health, education and income opportunities shall remain the top priorities of his last term.

Among the big ticket projects that del Rosario will pursue for the next three CAGAYAN DE ORO MAIN BRANCH years the completion Pinclude & J Lim Bldg., Tiano Brothers Kalambagohan Sts., of roadTel. projects, such* as the # (08822) 727-829 Telefax # (088) 856-1947 Kapalong-Talingod Highway, CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, the Km. 0, Asuncion-Veruela, Camiguin Tel. # (088) 387-0491 AgusanCORRALES Sur Road, BRANCHand the Corrales Ave., Cagayan de Oro City Mahayahay, Panabo CityDIVISORIA BRANCH Atty. Erasmo B. Damasing #61Road.

Don A. Paquibato, DavaoBldg., City Velez St., Cagayan de Oro City # (088) 857-3631is a lso The Tel.governor BRANCH keen onLAPASAN working forCitythe Lapasan Hi-way, Cagayan de Oro Tel. # (088) 231-6739 conversion of the SemongCARMEN BRANCH Vamenta Blvd., Cagayan de Oro Road City Florida, Kapa long Tel. # (088) 231-2011 connecting all the way to

Contact us : BusinessWeek Mindanao Advertising & Promotions Tanleh Bldg., Abellanosa St., Consolacion, Cagayan de Oro City

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CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

CAMIGUIN BRANCH B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491

LAPASAN BRANCH Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739

CORRALES BRANCH Corrales Ave., Cagayan de Oro City

CARMEN BRANCH Vamenta Blvd.,Cagayan de Oro City Tel. # (088) 231-2011

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Ford... from page 3

than 25 miles per gallon in highway driving.

Ford’s Tremor, a shortwheelbase version of the regular-cab F-150, gets the company’s 3.5-liter EcoBoost engine, a turbocharged, direct-injection gasoline V6 rated at 365 horsepower and 420 pounds-feet. A special “performance” axle helps the Tremor accelerate from zero to 60 miles per hour in about 6.5 seconds. EPA highway fuel economy is 22 miles per gallon.

In comparison, GM’s 2014 Silverado and Sierra get a standard 4.3-liter gasoline V6 that makes 285 horsepower and 305 pounds-feet, and has an EPA highway rating of 24 mpg.

T he 2014 R a m 150 0 with a standard 3.6-liter V6 gasoline engine will have a base price of $25,295, and the “EcoDiesel” option will be $2,850 more, Chrysler said Friday at the trucks’ introduction.

Ford has not released prices on the 2014 F-150 trucks, but said Thursday the Tremor would be more expensive than the standard F-150 V6 model.

Chevrolet has not priced the regular-cab 2014 Silverado V6, which goes on sale later this summer.

The three Detroit-based automakers dominate the full-size pickup truck market, which continues to heat up and is easily outpacing sales for cars, crossovers and SUVs. While total U.S. industry sales were up 7.3 percent through May, sales of big trucks jumped 21.2 percent.

At a ll t hree of t hose autom a ker s , t he l ig htduty pickup trucks are the company’s best sellers.

In May, sales of the Ford F-Series rose 31 percent, Chevrolet Silverado sales rose 25 percent and Chrysler’s Ram truck sales rose 22 percent. — Reuters

Followed... from page 1

Disaster Risk Reduction and.

Management Act of 2010.’

On December 17, 2011, TS Sendong brought flood waters t hat c au sed t he swelling of major rivers in the cities of Cagayan de Oro ang Iligan where more than 8,000 families were rendered homeless, notwithstanding the thousands of people who

died, whose bodies were accounted for, and hundreds have yet to be accounted for.

“We should not put our people in harm’s way and I’m sure that the city has a land use program and we will look into that, in the coming days, and perhaps strengthen the ordinance to that effect and enforce such law.” Moreno said.

On t he ot her ha nd , n at ion a l l i ne a ge nc i e s collaborating in the disaster mitigation program of the government, headed by the Office of Civil Defense (OCD, said that their ongoing program in ensuring t he ma inst rea ming of disaster risk reduction – climate change adaptation in northern Mindanao is ongoing and that the vigorous education and information campaign are taking effect especially in disaster prone areas.

OCD sa id t hat t he collaboration among the Departments of Interior and Loca l Government, Science and Technolog y, Social Welfare, and National Economic and Development Authority has significantly educated the stakeholders in Region 10, particularly the local government units that act as front-liners during natural ca lamities to lessen t he occurrence of disaster.

OCD said that TS Sendong cost the government P26 billion to address the total needs of areas that were devastated by the flooding.

These needs include the rebuilding of infrastructures, li ke roads a nd bridges, and human development particularly the needs of the victims.

“We hope that with the efforts of the line agencies in disaster mitigation would enable LGU’s to respond to calamities and lessen or mitigate the loss of lives and properties. And will make their communities disaster resi lient.” A na Ca neda, OCD regional director said during the Talakayan sa PIA (Philippine Information Agency) on Monday.

Assume... from page 1

Abante Mindanao party-list Rep. Maximo Rodriguez Jr. During his short message, Moreno t ha nked t he electorate saying he would work for the city’s stable peace and order, smooth traffic

ma nagement , i mproved health services, and legislate laws aimed at protecting the city’s environment.

He echoed his statement during Sunday’s inaugural assumption to office at City Kiosk where he proclaimed “to serve the people the best way possible.”

Rodrig uez, who is among t he Outstanding Congressmen in the 15th Congress, also pledged to pass five local bills that would benefit the city residents particularly with health services.

He said he would legislate a bill that would nationalize the regional and city hospital here to ensure nationa l f unding and secure t he positions of health workers here.

Rod r ig ue z added he will work to legislate laws declaring Cagayan de Oro City as “mining and logging free” urban center.

However, the opposition bloc of the United Nationalist Alliance-Padayon Pilipino led by re-elected Vice Mayor Ian Acenas and 11 other city councilors were absent du ring t he f lag ra ising ceremony. (PNA)

Tourism... from page 1

s pr i n g s a n d a b o u t 5 0 w at e r f a l l s i n M i s a m i s Oriental that remain to be discovered and developed.

According to Emano, i n f ra st r uc t u re i n t hese tourism sites shou ld be developed to attract more domestic and foreign tourists.

“Developing the tourism industr y in Misa mis Oriental will certainly spark progress and livelihood in the province’s rural areas,” Emano said.

The young Emano, whose more i l lu st r iou s fat her Dongkoy Emano had lost to his predecessor Oscar Moreno as Cagayan de Oro City mayor, bewailed the past administrations handling of the finances of the provincial capitol.

He said his new administration is left with only a little over P5 million in its coffers, not even enough for the one month payroll of capitol employees.

Emano vowed to look into the matter.

Economy... from page 1

GDP grow th of only 3.9 percent” in that year.

Also, she said that for two consecutive years, the region displayed strong economic performance with 7.4 percent growth in 2009 and 2010.

Citing data from NEDA, Cariño said Caraga exceeded its growth targets by 2.6 percent in 2011 and 1.4 percent in 2010 based on the gross regional domestic products (GRDP) targets identified in the 2011-2016 Regional Development Plan.

She also pointed out that the growth performance is higher than the neighboring Regions X and XI for the same year.

Cariño added that as of 2011, Caraga’s per capita GRDP stood at P27, 790, growing at an annual average of 7.02 percent from 2009 to 2011, while the national average was at 3.98 percent.

The region’s economic growth, she said, was driven mainly by the industry sector that grew by 14.0 percent.

Cariño added that the m i n i ng a nd qu a r r y i ng subsector continued to lead with 28.4 percent growth.

Regional Development Council-10 chair and Surigao del Norte Governor Sol F. Matugas also said that the poverty incidence in the region has reduced to 9.8%, making Caraga with least poverty incidence among Mindanao regions.

The Caraga R DC has embarked on development programs and projects that contributed to the region’s economic growth. Among t hese a re road net work improvement, housing, job generation thru business investments, and tourism development.

Matugas thanked the Caraga congressiona l representatives who also composed the RDC Advisory Council for their untiring support especially in terms of policy-making and financial aid. She also commended NEDA-Caraga for helping her in bringing Caraga’s one mission, one vision towards inclusive growth.

N EDA record s show that the service sector also grew by 9.7 percent while the transport, storage and communication subsector posted 18.4 percent.

Also, it said agriculture, hunting, forestry, and fishing sector, which for years had c ont i nuou s ly de c l i ne d , rebounded with the positive growth of agriculture and forestry (A & F) subsector

11

BD: July 1-3, 2013

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www.businessweekmindanao.com at 4.3 percent.

The service sector had the biggest share to the GRDP with 47.2 percent growth, the NEDA said.

Data from the NEDA

regional off ice also shows that Caraga region contributed 8.24 percent to t he tot a l M i nd a nao output and 1.6 percent to the national GDP.

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Kagay-anon Restaurant’s Teamwork for a Winning Pinakbet

by Mike Baños

P

inakbet was one of the featured Filipino dishes in the “Sooo Pinoy National Search for the Ultimate Pinoy Dish”, a joint project of Unilever Foodsolutions, Philippine Daily Inquirer (PDI) and Department of Tourism.

An Ilokano dish mainly consisting of ampalaya, eggplant and okra, and often tossed in sautéed garlic and shallots, ginger and ripe tomatoes, slices of pork liempo, and crackling pork, Pinakbet has traditionally been spiced with bagoong na isda (fish paste), providing the lucky diner with a wide variety of tastes including salty, sweet and sour.

Although it shares most of the features of this favorite Pinoy dish, it’s the extra oomph in the Pinakbet of Kagay-anon Restaurant in Limketkai Center which led to its selection as One of the 10 Best Pinakbet in the Philippines by Sooo Pinoy.

“A team from Unilever and PDI will go out and nominate food outlets that best serve a particular dish,” said Jhao Carandang, Unilever sales executive. “For instance, Kagay-anon was nominated among others in Mindanao and by certain criteria they

bested other nominees across the Philippines.”

Carandang said ‘mystery judges’ visited the nominated outlets to judge the particular dish and the Top 10 restos or hotels judged to be best in a particular dish would be featured based on these criteria ‘Taste’ (balance of flavor, texture and aroma); ‘Presentation’ (creativity, use of ingredients) and ‘Value for Money’ (serving size, quality of ingredients and overall dining experience).

“We didn’t expect to be selected so we were all happily surprised when the call informing us of our selection came through,” said Mrs. Francisca Limketkai, owner of

Kagay-anon Restaurant.

And it wasn’t just the owners and workers of Kagay-anon either who were excited over the win.

“Until this time, we still have a steady stream of orders for our pinakbet as a result of that selection which was posted in The Philippine Daily Inquirer,” said Russel Awat, restaurant manager.

Although it's a dish that has migrated to practically all corners of the islands, one thing which makes Kagayanon’s Pinakbet special is its presentation inside the half of a fresh squash gourd.

Even renowned chefs from Metro Manila like Myrna Segismundo of Restaurant

9501 who tasted their pinakbet noted the dish’s remarkable presentation.

That was the inspiration of Mrs. Limketkai, who inherited her lifelong zeal for cooking from her father Tan Sing Liat, who also loved to cook. Her sister, Mrs. Nena Velasco, also inherited their father’s culinary c hops, being the moving spirit behind Countryside Steakhouse, a fine dining establishment which shares the same building with Kagayanon.

Even as an elementary student, Mrs. Limketkai was already learning to cook, and her favorite dish then was sotanghon guisado (rice vermicelli) that her aunt, who was her mentor, allowed her to cook on special occasions.

When she took over in 1997 for brother-in-law Lorenzo who started Kagayanon at a nearby site in 1991, one of the first things she did was to expand the menu, one of which is their now famous Pinakbet.

Mrs. Limketkai said the reason behind the success of their unique recipe is the teamwork between herself, chief cook Edgar Illana and resto manager Ms. Awat. No new menu item enters the

Kagay-anon’s list unless these have been tasted by Mrs. Limketkai.

“She has this unique ability to know what ingredients have been used to cook the dish and she can tell also what needs to be enhanced or toned down,” Ms. Awat said. Together, they conduct random quality control tests on all items coming from the kitchen supervised by their chief cook.

This exactly is what Austrian Chef Norbert Gandler said local chefs need to make it to the next level. Gandler will once again be back to head the distinguished panel of judges for the 17th Kumbira slated in August 14-16 at the Limketkai Center Atrium.

G a n d l e r, w h o a c t e d as c hair of the board of judges many times in the past, notes how competing chefs, (especially in the professional category) tend to make shortcuts as time goes on; hence, the crying need for more executive chefs who are “experienced, responsible, and have the right attitude” to control quality and keep on testing new ways to make things better.

With the tested team of Kagay-anon Restaurant keeping close tabs on its menu, it’s poetic justice that the process of improving the city’s cuisine has already started in the restaurant which proudly bears its name.

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Mr. Lino Gacus, Branch Manager of Philippine Veterans Bank (PVB), CDO (left) and Veterans Bank VP Miguel Angelo C. Villa-Real (right)presents the token of appreciation to Mayor-elect Oscar “Oca” Moreno which are framed Philippine Guerilla Notes. These notes were printed during World war II by guerilla forces and the provinces and municipalities they defended. They were made from whatever paper was available at the time and were printed under unfavorable conditions.

PVB’s War of our Fathers traveling exhibit runs from June 29 - July 9 at the 2nd floor of SM City Cagayan de Oro. Photo by Ronald Mastail