BusinessDaily (June 14, 2013)

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Cagayan de Oro City

Volume III, No. 235

Market Indicators

As of 6:07 pm june 13, 2013 (Thursday)

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US$1 = P43.10

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Briefly War vs poverty DAVAO City -- Flag-raising and wreath-laying ceremonies, Kalayaan-jobs fair and a static interactive display of military activities highlighted the 115th Independence Day Celebration in Davao City.

Mayor Sara Duterte-Carpio led the flag-raising ceremony and the offering of flowers before the monument of the national hero, Dr. Jose P. Rizal which was attended by the local government officials, representatives from the linenational agencies, members of the National Historical Commission of the Philippines, members of the diplomatic corps and the officers and men of the Philippine National Police and the services of the Armed Forces of the Philippines in Davao Region and Eastern Mindanao area, respectively.

In her speech, she underscored the central theme of the Independence Day celebration which is focused on cooperation.

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June 14, 2013

FINALLY AFTER 22 YEARS:

Misor airport ready for commercial operation Foreign airlines seen to fly directly to Mindanao by 2014

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By FROILAN GALLARDO MindaNews

AGUINDINGAN, Misamis Oriental -- After 22 years in the making, the P7.8 billion Laguindingan Airport will finally be open for business tomorrow, Saturday, June 15.

Aboard a chartered Gulfstream aircraft, President Benigno Aquino III and his entourage landed Tuesday at the airport for its inaugural flight, “ending the debate” ready/PAGE 11

As soon as navigational gadgets installed, foreign flights available next year

FOREIGN airlines may soon fly directly to Mindanao, with the installation of additional VISUAL FLIGHT RULES. A video monitor at the VIP Lounge of the Laguindingan Airport shows a ground navigational aids at the soon-to-be-opened crew guiding the plane that flew-in President Benigno S. Aquino III to Laguindingan for the final P7.8 billion Laguindingan airport. inspection of the airport Tuesday before it commercially opens on Saturday, June 15. photo by shaun alejandrae yap uy flights/PAGE 11

San Miguel keen on Laguindingan airport

Anti-smoking drive BUTUAN City– The Department of Health – Center for Health Development (DOH- CHD) Caraga has intensified its campaign against tobacco use, especially in public places and public vehicles.

Ten Filipinos die every hour, according to Delma Legaspi, non-communicable disease coordinator of DOHCHD Caraga. “Tobacco can make you impotent, can cause depression and affect your hormones, among others.”

Legaspi also said that smoking during pregnancy leads to: 1) Spontaneous Abortion; 2) Ectopic pregnancy; 3) Low-birth weight babies; and 4) Long-term effects on growth and development of the child. “Father’s and other people smoking can affect the fetus.

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DIVERSIFIED conglomerate San Miguel Corp. is keen on participating in the planned bidding of the contract to operate and manage (O&M) the Laguindingan Airport.

“I f t he gove r n m e nt offers it, we will join,” San Miguel president and COO Ramon Ang told reporters

on Tuesday, June 11.

“We are interested in any Public-Private Partnership (PPP),” he added.

T h e P 7. 8 - b i l l i o n Laguindingan Airport in Misamis Oriental is the new gateway to northern M i nd a n a o. It re pl a c e s Cagayan de Oro’s Lumbia

Airport, which will be turned over to the Philippine Air Force.

Four airlines operating from Lumbia - Philippine Airlines (PAL), PAL Express, C ebu Paci f ic, a nd Z est Airways - have transferred to the Laguindingan facility, airport/PAGE 11

Del Monte to expand fresh fruit exports

By CHRISTINE CABIASA Reporter

MANY STILL POOR. Ambulant beggars continue to loiter around downtown Cagayan de Oro City. Despite reported economic growth posted in the first quarter, poverty is still prevalent elsewhere in the country. photo by gerry gorit

AFTER going public by enlisting in the stock market, fruit grower and canner Del Monte Pacific Limited announced it is going full blast into fresh pineapple exports, expanding its core business of selling processed products under the expand/PAGE 10

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

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BIR extends use of old receipts to August 30, this year MANILA- The Bureau of Internal Revenue (BIR) extended until August 30, 2013 the deadline on the use of old receipts after some businessmen reported inability to meet the July 1, 2013 implementation for the use of new receipts.

BIR Commissioner Kim Jacinto-Henares said a number of businessmen requested for the extension because t hey cannot f i nd pr i nters t hat w i l l accommodate requests for rush printing of new receipts.

“Since there are lots of requests and the printers are already overloaded we

noted that it is physically impossible to accommodate everyone so we adjusted the deadline,” she said.

Henares advised businesses to surrender the old receipts 10 days after they get their new receipts.

BIR’s Revenue Regulations N o . 18 -2 01 2 r e q u i r e d businessmen to apply for

the printing of new receipts at least sixty (60) days, or by April 30, before the expiry of their old receipts on June 30, 2013 and start issuing the same on July 1, 2013.

Businessmen who fail to comply with this rule will be penalized and need to pay the maximum penalty of P50,000 based on the provision of Section 264 of the Tax Code.

Henares explained that “we’re finding out that lots of businesses are registered with the BIR, but are not engaged in businesses.”

(PNA)

Mindanao exec to address Caraga bizcon

By Roel Catoto of MindaNews

SU R IGAO C I T Y – A n official of a major mining firm will speak at the 18th Caraga Business Conference scheduled next week at the Hotel Tavern in this city.

Ta k a n o r i F u j i m a , p r e s i d e nt o f Ta g a n i t o High-Pressure Acid Leach (T H PA L)-Nic kel C or p. will give an overview of the company’s single largest investment the country.

The business conference will take place on June 13-14.

Fujima is scheduled to speak on June 14, on the

topic “Investing Mineral Proce s si ng i n Su r igao: Competitive Advantage of Mining in Caraga.”

He is given a 30-minute talk that includes an open forum.

Organized by the Surigao Chamber of Commerce and Industries (SCCI), Fujima is expected to give an overview of business opportunities from the mining firm’s $1.4 billion investment.

THPAL is scheduled for commissioning this year in Claver, Surigao del Norte.

Willie A. Gan, president of SCCI encouraged the business sector to attend the regional business conference.

In October 2011, the New People’s Army launched simultaneous attacks on T H PA L a nd t wo ot her mining firms in Claver “for damaging the environment and violating the rights of Lumads, peasants and workers.”

The rebel group alleged t h a t T H PA L’s n i c k e l processing plant is a gross air pollutant in the province.

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4 Philippines, the ‘brightest spark’ in ASEAN – ICAEW report friday - june 14, 2013

THE Philippines is growing at a faster pace among the five biggest economies of the Association of Southeast Asian Nation or ASEAN-5, supported by robust government spending and increased business confidence, according to the Institute of Chartered Accountants in England and Wales (ICAEW).

“The Philippines looks to be doing exceptionally well as the government spends heavily on infrastructure and confidence about governance and business prospects abounds,” ICAEW noted in the “South East Asia Economic Insight Report” released recently.

Touting the Philippines as one the “brightest sparks in the ASEAN region,” ICAEW noted “booming household

expenditure have also contributed to the glowing picture.”

ICAEW sees the Philippine economy expanding at 5.1 percent this year and accelerating to 5.4 percent next year.

This is above the 4.9 percent 2013 and 2014 growth projection for ASEAN-5 which groups Indonesia, Malaysia, the Philippines, Singapore and Thailand.

The projection for the Philippines is the second best in the five-nation bloc, behind Indonesia’s 5.7 percent projected growth in 2013 and 5.5 percent in 2014.

Thailand is seen growing at 4.8 percent in 2013, decelerating to 4.4 percent in 2014; while Malaysia’s ASEAN/PAGE 7

4 ASEAN members OK to adopt common visa

By Darwin G. Amojelar

THE Philippines, Myanmar, Cambodia and Indonesia have agreed to develop a common smart visa system to boost tourism across Southeast Asia.

During the 22nd World Economic Forum (WEF) on East Asia, ministers and tourism authorities of the four ASEAN member-states said they will facilitate travel in the region by developing a common smart visa system.

Tourism ministers of the four ASEAN member-states have signed the “Statement of Intent on SMART Visa” during the ongoing WEF meeting taking place in Nay Pyi Taw from June 5-7.

“By recognizing t he i mp or t a nc e of t he connectiv it y in tourism activities, the statement

of intent ex presses our desire to give a boost to the tourism sector by facilitating the movement of tourists across borders; by going towards a smart visa through adopting best practices; and maximizing the use of technolog y to reduce the ineff iciencies of the traditional visa application process,” Department of Tourism Secretary Ramon R. Jimenez Jr. said in a statement.

“By signing this letter of intent, ministers and tourism authorities agree to work hand-in-hand for

the implementation of this system, whose objective will be that of eliminating those barriers to the movement of tourists which are currently creating disincentives to t r avel . Such obje c t ive s

will be achieved in close c o ord i n at ion w it h t he governmental entities in each of t heir respective countries,” said U Htay Aung, Union Minister of Hotels VISA/PAGE 11

ASEAN needs to be flexible for 2015 THE Integrat ion of t he Association of Southeast Asian Nations (ASEAN) i n 2 015 shou ld not b e a blanket initiative; instead governments a nd pr ac t it ioners need to take into account the unique characteristics and different growth levels of the countries when planning a regional capital market convergence, according to experts.

Whether it is the ASEAN C or p or ate G over na nc e S c or e c a rd , a c c ou nt i n g sta nda rds or ra n k ing standards, the experts said the integration of ASEAN E c onom i c C om mu n it y 2015 should have enough

f lexibility to accommodate t he d i f fe re nt le ve l s of development w it hin t he region.

Securities Commission Ma laysia Deput y Ch ief E xe c ut ive Ni k R a m l a h Mahmood said the reality was that ASEAN countries were growing at different speeds.

“Corporate governance should not be pursued in itself, it must be relevant to what is on the ground, to the people and the companies,” she said at a panel session at the International Corporate G o v e r n a n c e s e m i n a r, held in conjunction with t he Organization for E conom ic C ooper at ion

and Development Asian Rountable.

H o w e v e r, N a t i o n a l Universit y of Singapore a s s o c i a t e pr o fe s s o r o f accounting Prof. Mak Yuen Teen believed a complete i nteg rat ion may not be viable and warned against too much comprom ise, which would result in a dilution of standards.

Ra njit says Ma laysia has established a strong regulatory framework that underpins the countr y’s corporate governance ecosystem.

“If you want integration, you c a n not ju s t s ele c t whatever is easy because that will not achieve much in the

end,” he said. “There must be give and take and knowing what are the priorities.”

Asset management firm BlackRock head of corporate governance for Asia Clarence Yang recommended that instead of applying one-forall standards, a “comply or explain” mechanism could be in place so that companies that cannot comply with the standards under certain circumstances could provide valid reasons instead.

In his opening address, SC Chairman Ranjit Ajit Singh agreed with looking at ASEAN as both a region and collection of differing markets. flexible/PAGE 11

ASEAN BAC launches regional business awards

BANDAR SERI BEGAWAN—THE ASEAN Business Advisory Council (ASEAN BAC) has launched the ASEAN Business Awards in a bid to recognise the most outstanding and successful ASEAN companies contributing to ASEANs economic growth and prosperity.

In a statement, ASEAN BAC said it has invited private companies from the region to submit their nominations for the upcoming ASEAN Business Awards 2013, which will be presented in August this year.

On Februar y 4 Brunei Darussa la m assumed chairmanship of the ASEAN BAC 2013, which also saw the relaunching of the ASEAN Business Awards (ABA).

ASEAN BAC launched the awards in 2007 to recognise business which have contributed to the growth and prosperity of the ASEAN economy.

This year, in recognition of the role of youths as contributors to economic development and consistent with ASEAN 2013 theme of ‘Our People, Our Future Together’, the ABA 2013 committee has included the criteria on Young Entrepreneur (YE).

According to the statement, this additional criteria will involve assessment under the Innovation category only.

Since its introduction, the annual awards have recognised more than 60 companies throughout the region; considered as the Most Admired ASEAN Enterprises and excelling in the categories of Growth, Employment, Innovation and Corporate Social Responsibility (CSR).

ABA was conceived to be the first of its kind in the region, with the dual objectives of showcasing home grown ASEAN companies that have become role models for other aspiring companies, as well as providing a spotlight for promising ASEAN small and medium enterprises (SMEs) that have the potential to be global players.

The statement added that to ensure the high-quality and independency of such a prestigious award, ASEAN BAC has engaged KPMG as the Strategic Partner.

KPMG will administer the implementation of the nominations, assessments and selections; as well as assist in promoting the event throughout the ASEAN region.

Companies shortlisted by the Strategic Partner will be brought to the attention of an independent judging panel comprising of top business leaders, economists and academics from ASEAN countries.

Awards will be presented at the Gala Dinner of the 2013 ASEAN Business and Investment Summit (ASEAN BIS), which is scheduled to be held on August 22 to 24 in the Brunei capital of Bandar Seri Begawan.

Interested companies are invited to complete and return the ABA 2013 nomination form, which can be obtained from the ASEAN BAC website at www.aseanbac.org

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Lawyer Edward Leandro Z . Ga rcia Jr., who just relinquished his post as president of the Rural Bank of the Philippines (RBAP) this week, has said that signing into law of the measure “is a major win not only for rural banks, but to the countryside as well.”

“Now t hat foreig n investments are allowed, rural banks are now in a better financial position to reach out and serve both the unbanked and under-banked through improved banking services.”

For one, Garcia said rural banks will now be able to get additional capital that will boost their capacity to compete with the bigger banks.

But will the entr y of foreign investors rea l ly en ha nce r ura l ba n k s, which are normally family owned? Or will it become just dummies of foreign businessmen?

Garcia, in an e-mail to PNA, said the 60 percent foreign equity is the ceiling and “existing rural banks has the option to allow foreign equity in their bank from zero up to 60 percent.”

He poi nted out t hat “capital alone is not enough to be successful in rural

banking.”

He explained that “in the Philippines, where there is diverse culture and ethnicity depending on each location, loca l k nowledge of t he community is indispensable if one is to succeed in banking.”

“Hence, while it is true that foreigners can bring in capital and some expertise they cannot do away with that banking know-how and experience that rural bankers have come to develop over six decades,” he said.

Garcia said the new law “brings into the table a new option that is available for all rural banks, as to how many will take this option will still remain to be seen.” “ H o w e v e r, w e a r e optimistic and sees this as a good indication because the industry is now thinking seriously of new ways by which to grow and expand like never before,” he added.

Relatively, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla Jr. told PNA that the new law is “an opportunity for improvement t hat rura l ba n k s w i l l b e w i s e to consider.”

“But ultimately, it’s their strategic decision to make,” he added. (PNA)

BSP sets seminar on pawnshops

By JEMIN B. GUILLERMO, Contributor

ROXAS CITY, Capiz- The Bangko Sentral ng Pilipinas is set to conduct a seminar on the pawnshop business for Capiz and neighboring prov i nces i n Wester n Visayas.

The event is intended for stockholders or proprietors, directors and officers and employees who are directly in-charge of the operation of paw nshops, foreign e xc h a nge a nd mone y changing and remittance business.

Information Officer Lowen Andrew June Ligad of BSP Roxas City Branch disclosed that the joint briefing and seminar on June 20 and 21 will focus

on Presidential Decree 114 or the Pawnshop Regulation Act as well as Republic Act 9160 as amended by RA 9194, otherwise known as the Anti-Money Laundering Act. “Ot her ru les and regulations governing the business of pawnshop or pawnbrokering, money changing and being remittance agents will likewise be discussed,” Ligad said.

He added that the the seminar will also focus a b o u t t h e p aw n s h o p bu s i ne s s , dut i e s a nd responsibi lities of t he pawner and pawnee, and the financial data on the industry.

Ligad explained that t he seminar is one of the prerequisites for the issuance of the BSP of the Acknowledgment of Registration, Authority to Operate and Certificate of Registration in doing such kind of business.

A P500 seminar fee will be charged for the twoday briefing on Pawnshop Regulations and AMLA seminar or P300 for the one-day AMLA seminar only.

Registration forms are available at the BSP Roxas City Branch, he said, adding that registration fees are likewise accepted by their office.

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Rural banking and the qualms on the entry of foreign investors Will rural banks turn into dummies of foreign investors now that foreign ownership in this sector was allowed at 60 percent?

Rural bankers hailed the recent signing into law of the measure allowing foreign investments in rural banks but will it really help the sector maximize its capacity to boost growth in the rural areas?

President Benigno Aquino III signed on May 24, 2013 the Foreign Equity Bill or Republic Act (RA) 10574, which is an amendment of the Rural Bank Act of 1992.

The amendment w ill allow foreign investors, either individuals or entities, to acquire up to 60 percent of a rural bank’s voting stocks.

House Bi l l 5360 was passed by the House of Representatives last January 3, 2013, while Senate Bill 3282 was passed by the Senate last January 28, 2013.

The bicameral conference committee report reconciling the two bills was ratified by both Houses of Congress last April 24, 2013.

Lawmakers who authored t h e bi l l we r e S e n a t o r Sergio R. Osmena III and Representatives Sergio A.F. Apostol, Rufus B. Rodriguez and the late Pedro Romualdo.

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Land bank of the Philippines located at Capistrano St. this city. photo by kirk ellen b . liponhay

Landbank of the Philippines approves more loans for OFWs More Overseas Filipino Workers get to start income. This program not their own businesses through loans from the only empowers our modern day heroes to improve their Land Bank of the Philippines.

As of end-April 2013, L A N DBA N K approve d P508.8 million in loans to 709 returning OFWs, generating almost 3,000 jobs.

This is part of LANDBANK’s P1-billion commitment to the government’s P2-billion OFW Reintegration Program in partnership with the Department of Labor and Employment (DOLE) and the Overseas Workers Welfare Administration (OWWA).

Among the loans

approved are working capital requirements and fixed asset acquisition for businesses in palay, rice and agricultural supply trading; hog raising and fattening; poultry; egg production; fishpond and fish trading; crop production; computer shop; grocery; transport; and construction, among others.

“By becoming entrepreneurs, our OFWs no longer need to leave the country to earn sufficient

lives but also helps boost the country’s economy,” said LANDBANK President and CEO Gilda E. Pico.

Bonafide members of the OWWA who have undergone the required training may borrow from P300,000 to as much as P2 million at 7.5 percent interest per annum payable within one year or a maximum of seven years, depending on the proposed project.

The program is open to Landbank/PAGE 11

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How to be a good fighter!

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THINK

hink a minute…A few years ago Mike Tyson fought A Minute Evander Holyfied for the world By Jhan Tiafau Hurst heavyweight championship title.

During the fight, Tyson got so angry he actually bit off a part of Holyfield’s ear!

Most of us know that it takes a much stronger man to control his own anger than to let it control him.

Many homes are not happy because the husband and wife haven’t learned to control their anger and fight by the rules.

Of course, I don’t mean fist fighting, but rather arguing with words.

There are 5 simple guidelines for fighting that would make a big difference in many marriages and homes.

The 1st one is smart timing.

If you are still angry, then it’s usually better to wait until both of you are in a better mood.

“Take time out before you take it out on each other!”

As one lady who‘d been married over 35 years said: “I’ve learned never to tell my husband bad news on an empty stomach!”

The 2nd guideline is to allow the other person the right to say, “I’m angry.”

Let them tell you how they feel. If we don’t let others express their anger in a healthy way, then it will continue to build up until we finally blow up!

Then we can deeply hurt each other with the angry, even hateful, things we say and do.

Remember, our feelings are not right or wrong, but they’re still real; so we need to allow each other the freedom to say how we feel.

Number 3: Know exactly why you’re angry. hurst/PAGE 7

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Collateral damage

e hear PNoy is visiting Cagayan de Oro this Tuesday, June 11th as part of the “soft opening” for the Laguindingan Airport scheduled to start operations on Saturday, June 15.

We hope the President has time and the inclination to lend an ear to his “bosses”, since his underlings at the Department of Transportation and Communications (DOTC) and the Civil Aviation Authority of the Philippines (CAAP) seem hell-bent in opening the new facility at any cost, including the lives and livelihood of people from Northern Mindanao, and never mind the recent mishap of Cebu Pacific at Davao airport which was lucky to escape with no fatalities to crew and passengers, but nevertheless cost the Davao economy an estimated P250-million in foregone revenues.

The “conservative estimate” of the Davao City Investment Promotion Office and the Davao City Chamber of Commerce of the losses caused by the Cebu Pacific crash covering the night of the crash, June 2 to June 4 when flights resumed, includes P3 million for cancelled hotel bookings, P500,000 for airport concessionaires, P1.5 million for transport service providers (vans, cabs, tourist buses, and car rentals), P50 million for other allied industries, P2 million for Airport terminal revenues and P190 million for Cargo.

If Davao’s economy could lose that much in the span of two and a half days, imagine the damage to the Northern Mindanao economy with the loss of at least 15 daily flights from July 1st, 2013 up to March 2014 as confirmed by no less than the CAAP Area IX Director in an article in another local daily under Laguindingan airport’s Visual Flight Rules (VFR) regime.

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That’s nine months of lost ammer flights compared to the day and and A nvil half losses of Davao following

By Mike Baños the recent crash. Not panicking yet?

In a letter to PNoy dated June 3, 2013, Oro Chamber President Efren T. Uy again reiterated the business sector’s fears about the impact to the region’s economy posed by the cancelled flights and risk to passenger safety posed by the new facility’s VFR protocol, suggesting instead the Philippine Air Force’s 15th Strike Wing now based in Sangley Point, Cavite instead use Laguindingan in the meantime.

Apparently, even domestic air carriers now operating in Lumbia airport don’t’ share DOTC and CAAP’s confidence in operating out of the new and “safer” facility.

According to a post in the PhilippineFlightNetwork. blog (URL: http://www.ch-aviation.ch/portal/news/19076filipino-airlines-hesitant-about-laguindingans-plannedjune-opening) dated 21 May 2013, Philippine Airlines, Cebu Pacific Air, Zest Air and PAL Express have all “expressed their displeasure at the Philippine Department of Transportation and Communications’ decision to forge ahead with the June 15 opening of the new USD190million Laguindingan International Airport, set to replace the baños/PAGE 7

Dengue has a cure!

D

ENGUE remains to threaten the lives of people around the world not necessarily franchised in the Philippines.

Like cancer, the disease continues to take lives indiscriminately and if only man and science could battle this war with success we may just have more lives to add the growing population of the world now standing as some 7+ billion people.

Sarcasm is but part of the narrative that plagues the multiple issues surrounding man in 2013 and in the Philippines.

Commercialism of course has taken its toll with less than one percent enjoying the benefits of luxury and authority while the rest of humanity suffers till death is realized.

A virus that has no cure will obviously threaten mankind. Is dengue such a virus?

Hospitalization is but a stop gap measure to ease the burden of sudden death but comes with a hefty fee. And should you not come up with the monies after pawning your properties and even lives death becomes you.

Hospitalization and the industry that succumbs to this commercialism called the pharmaceuticals and the medial authorities have found a sustaining demand to cover their sustained incomes by maintaining their relevance; withhold any information about a cure.

Can you imagine--should I tell you there is a cure for dengue and now in the Philippines that is affordable but is denied information to same lives, would you like to believe this?

If not, then you must be insane or a terrorist somewhat.

There is no measure of money that can equate human life and so I think but obviously lives are no longer a measure

Juni Law Office Cruz Taal St.,CDO Legal Counsel

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other than the monies born out of the misery of others.

B randing Hospitalization can only

By Harry Tambuatco monitor if not ease the burden of the dengue fever.

Statistics have it lives are lost in great numbers but who cares about numbers if only one life is lost when there is hope? I am ashamed to be a businessman deriving profit out of commercialism should life be lost in turn for a profit.

Shame on our government hospitals, our doctors and even the authorities for trying to withhold a cure that can save lives. Surely dancing stints by the Department of Health cannot qualify as an alternative strategy to provide health services. It is simply incorrigible.

Here is a link to one of my TV shows that interviews an advocacy to inform the public that there is a cure and it is affordable and available and with proof of efficacy.

Part I - http://www.youtube.com/watch?v=DeoRdw2lixo Part II - http://www.youtube.com/watch?v=-Xg-Y8j4XYE But think about it – is there any other option to date other than this presentation? And should there be no options are you even left with a choice? I think not! The stink of authorities trying to quell Information that can save lives is totally unacceptable. Read this column, learn of this information, watch and learn of the cure for dengue and save yourself, your family and your community.

SUPER

Inheriting a bankrupt provincial government

HE provincial capitol in Misamis Oriental is reportedly bankrupt. At least, that is the initial findings of a “transition team” of incoming Governor-elect Bambi Emano. This corner had the purported documents two weeks ago detailing Capitol’s alleged transactions involving unpaid millions of financial obligation.

The document disclosed of a provincial treasurer’s official report of a “depleted cash fund” at the Capitol. The report also disclosed efforts of the incumbent provincial capitol officials to “clear” all its financial obligations prior to assumption of the newly elected provincial governor.

Outgoing provincial Governor Oscar Moreno wants to clear the province of all financial obligations before he leaves the Capitol building at the end of June. Moreno is serving his last term as provincial governor.

He then ran for mayor in Cagayan de Oro City and won the hotly contested seat against incumbent city Mayor Vicente Emano. Moreno is also facing disqualification protest with the Commissions on Election (COMELEC) for allegedly rigging the result of the mayoral polls.

Anyway, winning the mayoral post in Cagayan de Oro City is graceful exit of Moreno’s administration at the provincial capitol. With allegation of squandering millions

of taxpayers’ money through ris iaz alleged unsettled cash advances amounting to about P 120 million, one would suspect Moreno’s handling of the affairs of the provincial government.

Now, he initial findings of Bambi Emano’s “transition team” that detailed alleged “misuse of public funds” at the provincial capitol during Moreno’s watch. A lawyer and a certified public accountant purportedly reviewed the document where an official at the provincial treasurer’s office reportedly supplied.

The report disclosed of a P220 million Philhealth Premiums allocated under the “indigence enrolment” program.

The amount is for payment in 2013 at P 50 million per quarter. Aside from this, the provincial government has to pay this month the P 50 million unpaid arrear Philhealth premiums in 2012, carried over to 2013. diaz/PAGE 7

C

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Hurst... from page 6

Sometimes the thing that started us feeling so angry was only a small even silly thing.

But behind it is the real problem which we need to talk about it.

The 4t h guideline to fighting in marriage is to realize that your anger is the enemy, not your wife or husband.

So stay on the same side and fight together against the anger that’s hurting your family.

The final guideline is you have to invite God to the fight.

You need to ask Jesus Christ to take control of your heart and marriage.

Only He can give you the willpower, love and selfcontrol you need to start winning your fight against your uncontrolled anger that will hurt, even destroy, your marriage and family.

Just Think a Minute…

Baños... from page 6

Oro Lumbia (CGY) airport as the gateway to the northern Mindanao and Misamis Oriental provinces.”

Although the airlines convinced the government to push back the original April 30 opening date “to minimize disruption to passengers and to permit more time to rearrange flight schedules”,

the 45 day postponement has apparently failed to convince all carriers the airport and its support infrastructure is ready to receive f lights by the planned 30 June opening date.

The repor ted lack of ava i lable power needed to properly operate Laguindingan’s facilities remains another issue. In fact, word has it even local CA A P of f icia ls a re not comfortable with the revised opening date.

So where does that leave t he people of Nor t hern Mindanao by June 15? In the interest of the greater national good (being those of our overlords in the National Capital Region) we are once again disposable “collateral damage”.

No wonder the PNoy ma g ic doe sn’t work i n Mindanao: he has consistently demonstrated an obstinacy that many like to call “spite” for coming in second to a deposed and convicted former president who is now mayor of Manila.

Only in the Philippines.

Diaz... from page 6

Misamis Oriental has also a payable amounting to P 72 million from previous years, which are due for payment in June this year.

The provincial government has also applied for a loan at the Development Bank of the Philippines (DBP)

intended for the Misamis Oriental Telephone. Some P 40 million loans are due for release this month increasing interest payable and loans payable.

Gov. Moreno has also reportedly withdrawn P 14 million “confidential fund” two weeks after the May 13, 2013 elections. Moreno allegedly withdrew the fund claiming the money was “his confidential fund.”

Knowing the tight financial status of the provincial Capitol, the incoming administration would want to defer all financial obligations of the provincial government pending a “review of all transactions.” The idea is fine. However, with Moreno still at the helm of the provincial capitol until end of June 2013, Gov.-elect Bambi Emano could not do anything.

Most certainly, incoming Gov. Emano would inherit a bankrupt provincial capitol administration. Emano could not do anything but scour on the spoils left by Moreno’s administration.

Consequently, the first order of the day is for Gov. Emano to regain Capitol’s financial liquidity.

React: crisguardian@ yahoo.com

ASEAN... from page 4

is projected at 4.4 percent and 4.2 percent for this year and the next, respectively.

Island nation Singapore

is seen trailing the bloc, growing at 2.3 percent in 2013 and 3.6 percent in 2014.

ICAEW’s outlook for the Philippines, however, fallsshort of the government’s growth goal of 6 to 7 percent in 2013 and 6.5 to 7.5 percent in 2014.

It is slower t han t he 6.6 percent expansion in 2012 and is below the 6.05 percent full-year 2013 median forecast of private sector economists polled by GMA News Online.

Sought for comment, Bank of the Philippine Islands (BPI) economist Emilio Neri, Jr. surmised that ICAEW’s “conservative projections” may be based on “historical growth data, which are lower than Indonesia.”

ICA EW economic advisor and Cebr’s head of Macroeconomics, Charles Davis, noted in a statement, “We expect growth in the Philippines to fall to about 4 . 5 percent i n 2015 a s capacity constraints lead to higher inflation and tighter monetary policy. However this remains a good figure, and the country looks set to shake off its former reputation as the ‘sick man of Asia’.”

“Fiscal consolidation, which we see as aggressive so far, will be an impetus for more aggressive spending,” BPI’s Neri said. This “will determine if the Philippines can sustain a 6 percent growth trajectory,” he added. (gmanetwork.com)

7

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Feature

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Photo by GLENN PALACIO Hair and makeup art INYAKI YUSON Costume Design DON CRISTOBAL

The Made-Up Life of Inyaki Yuson, Artist

by zola gonzaleZ - MACARAMBON

Jim Russel “Inyaki” Yuson is only 27 and already a quadruple threat in the fashion world. As hair, makeup, and fashion designer, his is that elusive combination of drive, talent, intelligence, and work ethic – the stuff of rock stars sans the fast and short expiration dates.

Steadily, over the past few years, Inyaki learned, trained, and taught hair, makeup, and fashion design at the Fashion Institute of the Philippines in Cagayan de Oro City.

Not the icing but the cake, he is also a registered nurse currently pursuing a master’s degree in medical surgical nursing.

Perhaps it is this training and discipline in the clinical field that gave him the methodical precision with the makeup brush.

This, coupled with the sharpened aesthete of an artist – his resume comes with a smattering of roles as stage actor and host – yielded an impeccable portfolio of makeup art on such high profile faces as Joey Mead, BB Gandanghari, John Lapus, Bianca Araneta – Elizalde, Andi Eigenmann, and Asia’s Next Top Model runner-up, Stephanie Retuya.

These artworks have been published as editorial shoots for Mega Magazine, Celebrity Living, Celebrity Mom, People Asia, Preview Magazine, Meg Magazine, IORA SG, Glamogirl

ZGM: How are these projects with high-profile celebrity clients like?

Anything anecdotal with these artistas? Are they any different from the more low-profile clients or models?

JRIY: High profile? You’d have to excuse me on this one. Ever since college, I’ve always been nonchalant with how we define the social strata.

But now that you've mentioned, the "artistas" and "socialites" are pretty much concerned with the same thing as the low-profile clients. Some are nice, some are demanding, some are thoughtful and some are airheads. I’ve been lucky so far. As for the models, they don’t really have much of a say with what you do to them. It’s their job. If the project calls for it, I make them look the way the creative director wants them to look.

ZGM: Can you tell us a little about the jet-setting life as makeup artist?

JRIY: If a client from any part of the country and in some rare cases, abroad wishes to book me, I’d be more than willing to fly to them. I mean, this is work. Sure, travelling has its perks but I think of it more as opportunities to expand my experience as an artist and as a professional. Before I went full time as an artist, I spent 5 years traveling around the Philippines teaching nursing reviews. It’s really not that different although it’s (traveling for

SG, and on-air on ETC’s G Tongi for Mega Young Designers Competition and Amanda Griffin-Jacob for Amanda Living.

Ever since snagging a top 4 finalist spot on ETC’s Mega Fashion Crew Season 2 Extreme Edition, Inyaki has been hard at work, putting one block at a time in a progressively solidifying makeup-as-art career.

Despite his gravity-defying rise in both the national and international fashion scenes – he has just recently taught an advance fashion makeup workshop in Singapore – Inyaki maintains a level of discernment not commonly found in many a creative personality in this city.

Albeit the traipsing and overachieving from one project to another all over the country and abroad, he keeps everything in check with the knowledge of the dynamic and talent-populated world of hair and makeup art - those who came before, with, and after him in the field.

His humility is inspiring. He refers to the aforementioned traipsing and overachieving as “baby steps” as, in his words, he is far from being “there” yet and his “big break” is still before him.

Wherever and whatever “there” may be, Inyaki Yuson is making certain he enjoys the ride.

makeup work) less stressful.

Being able to travel and do what I love to do feel great. But if there’s one thing that I’ve learned from flying in and out of one place to do make up, it’s these: 1) Never check in your makeup stash even if you declare it as fragile you'll really never know how the airport people handle them, and 2) If I have to check in a big makeup traincase, I try to put all the "necessary" stuff inside my hand-carry luggage just to make sure because there was this one time I had a connecting flight and they didn’t forward my luggage to the next plane.

You can just imagine my horror to find out I was missing my makeup traincase when I had to start doing makeup for a bride in 2 hours! I ran amok the airline office because for one, I was losing precious money and yes, a possible lawsuit loomed over my head. They told me that they'd deliver it to my hotel but I didn’t have any time for that. Thankfully there was an incoming flight and I got my luggage after waiting for 40 minutes.

I would never want to experience that again.

ZGM: What's the difference between the local models and the ones in the capital or abroad?

JRIY: Most of them (models abroad) are taller but Filipino models are more experimental with their "fierceness".

Aside from that, there’s not much of a difference. It always boils down

to professionalism and work ethics.

Professional models know their job.

They don’t act like divas. They don’t think of themselves as the star of the shoot. Most of all, they know the essence and meaning of the word “model”, that is, “to model”. The not-so-professional ones always want to be the center of attention and they always want to stand out.

ZGM: Do you have personal makeup preferences? Do you prefer a light canvas over a warm one? What are your personal color tendencies?

JRIY: As an artist, I welcome challenges. I always want to learn something out of a certain experience.

Although, I would want to experience how it is to be an artist in Europe or the US mainly because they have a very diverse market. I want to do make up for clients with different skin colors and features. In the Philippines and in most Asian countries, we're limited to the Asians and mestizas.

ZGM: What are a professional makeup artist's essential tools? Are brand names in cosmetics important?

Why? JRIY: We are artists. Before any tool and product, one needs an open mind, a keen interest in the arts, and humility to know that there’s always something to learn. Mere talent will not get anyone anywhere. After that, a good set of brushes and foundation

are a makeup artist’s best friends.

For me those are essential in putting on makeup. I take a lot of time prepping the face to perfection.

I am not brand conscious but product conscious. Quality always comes first. And yes, safety too.

Inyaki with G Tongi

ZGM: What is your biggest makeup challenge?

JRIY: Well, that would probably be not having enough money to buy the products and equipment that I want.

As an artist, I’m really not brand conscious but I am product conscious.

Aside from the skill and artistry, quality products really matter and most don’t come cheap.

ZGM: What is your makeup artist philosophy? A credo you sort of live by when doing makeup projects?

JRIY: Never tell yourself you’re good enough because when you do, learning stops. Always research, practice, and try to learn from other art forms. It’s good to be draw inspiration from everything.

I also always remind myself never to compare myself to other artists and never to belittle their art. There should always be respect for their unique art even if I don’t necessarily approve of it. Also, it is and always about thanking God for this gift and praising him by becoming the best version of myself.

ZGM: I'm sure there are a lot of people out there who are thinking about a career in makeup-as-art field.

A few words from the wise, please?

JRIY: Listen to your heart but don’t forget your responsibilities. In any kind of art, it’s not all passion and talent. You also have to use your brain or else be killed in battle. It’s a jungle out there. If you want to start a career in makeup, research and practice will hone your interest. Find your own uniqueness and don’t just join the bandwagon or else, you’d only be one of "those" makeup artists who never rise above and get stuck in limbo. Once you're already sure, take calculated risks but take risks nonetheless. In the real world, it’s not always the smart who gets ahead, but the bold. This I learned from Robert Kiyosaki. Never be afraid to be criticized. Equip yourself with a lot of bravado, guts, cunning, tenacity and the like. Never be afraid to stand out but always, always, always keep the humility

(first published at The Cagayan de Oro TIMES, Vol1 No44, June 3-9, 2013)

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K-Water plans $900-M Pulangui V hydro project

By MYRNA M. VELASCO Contributor

KOREA Water Resources Corporation (K-Water) is planning to join any ‘project tender arrangement’ that the Philippine government may set for the proposed $900 million (approximately P38 billion) Pulangui V hydropower project in Mindanao.

The proposed capacity of the greenfield hydro plant is 250 to 300 megawatts and it will be a dam-underpinned project. The facility’s site could cover several areas in Bukidnon and is also set to reach North Cotabato for the dam component.

“We are studying Pulangui V project and we are interested to develop it,” K-Water director general for overseas business department Won-Cheol Park has noted in a chance interview.

The other venture eyed by the company is the proposed Bulanog-Batang hydro power project in Bukidnon, which it penciled in to cost $490 million.

Based on initial studies by other prospective developers, the facility could yield power capacity of about 150 megawatts.

Another target cast in the South Korean firm’s investment roll for the Philippines is the P12.0 billion Kapangan run-of-river hydropower project in the Cordilleras.

Park was in the country last week to continually discuss with government officials the remaining contentious issues on the turnover of the privatized 218-MW Angat hydropower plant.

Expand... from page 1

Del Monte brand, company officials said Monday.

“What we are promoting is f resh pineapple... It’s better than the processed pineapple,” Ignacio C.O. Sison, chief financial officer.

“The variety is superior, it’s a premium grade of pineapple. This is different from canned pineapple,” Sison added.

For processed products alone, the company harvests more t h a n 1. 5 m i l l ion pineapples a day from its farm in Bukidnon, he noted.

T h e c o m p a ny ow n s t he Del Monte brand in t he Ph i l ippi ne s , whos e core business revolves on processed and canned fruits.

Chief operating officer Luis F. Alejandro said fresh pineapple will be sold under the S&W brand which Del Monte Pacific bought for $10 million in 2007.

“We wanted to bring it to the international market,

The company also renewed last May 28 its security deposit for the Angat facility, effectively stretching their engagement in the project for another six months while matters relating to the issuance of the certificate of effectivity (COE) are being sorted out.

Despite the “five tricky hurdles” in the negotiations for the Angat plant transaction, the K-Water official noted that they would want the “deal to close.”

According to government sources, a new appeal was lodged by the Korean firm for further deferment of the COE issuance pending the resolution of “outstanding issues.”

The Power Sector Assets and Liabilities Management Corporation (PSALM) was reportedly inclined to issue the COE first week of June, based on the deadline earlier given by Finance Secretary and PSALM board chairman Cesar Purisima.

Energy Secretary Carlos Jericho L. Petilla also hinted to reporters that the government already has a “Plan B” in case K-Water walks away from the transaction or if negotiations on the closing will hit ‘epic fail’.

While he has not given the details, it was gathered from the side of the Metropolitan Waterworks and Sewerage System (MWSS) that the “option plan” could be a “re-bidding” or it may also involve the second highest bidder which is First Gen of the Lopez group.

and specif ica l ly using a specific asset, which is the largest, most integrated plantation in Buk idnon.

Now with S&W, we now have footprint to grow our branded business in the international market,” he said.

Del Monte Pacific can now sell both processed and fresh pineapple products through S&W, which was not possible under the Del Monte brand.

“Del Monte trademark is only processed product.

W hereas w it h S&W, we ca n market a ny k ind of products, and in fact we now have a big business in export of fresh pineapple to Korea, Japan, China, and the Middle East under S&W brand,” Alejandro said.

S &W or ig i nate d i n t he US as producer and marketer of processed fruit a nd vegetable products, claiming to be a premium brand globally except in t he Americas, Austra lia and New Zealand.

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D A E R

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On Monday, Del Monte Pacific listed 1.298 billion shares on the Philippine Stock Exchange (PSE) by way of introduction. It has been listed on the Singapore Stock Exchange (SGX) since 1999.

This is t he f irst dua l listing on the PSE and the SGX. Controlling shareholder, NutriAsia Pacific Limited, entered into a placement agreement for the sale of 150 million shares at P26.40 apiece, diluting its stake to 67 percent from 78.6 percent.

Net prof it jumped to $32.1 million last year, from $27.4 million a year earlier, on record sales of $459.7 million—up 8 percent yearon-year.

Subsidiary Del Monte Phi l ippi nes ow ns t he 23,000-hectare pineapple plantation in Mindanao, dubbed as the world’s largest pineapple operation with a 700,000-ton processing facility.

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Visa... from page 4

and Tourism of Myanmar.

The statement of intent forms a part of joint efforts to improve growth of the national and regional travel and tourism sectors along with social integration.

M o r e s p e c i f i c a l l y, ministers of tourism have agreed to collaborate on working towards the ASEAN Common Visa initiative as called upon by leaders at the ASEAN Summit in Jakarta in November 2011.

It also builds on the single visa scheme for tourism travel between Cambodia and Thailand that began this year. Progressive relaxation and an ASEAN common visa would also benefit nonASEAN nationals who intend to visit the region.

According to Indonesian Minister of Tourism and Creative Economy Mari Elka Pangestu, “Considering that tourism is a priority sector under the ASEAN E c on om i c C om mu n it y and that it constitutes a significant contribution to the integration of ASEAN countries, it is important to be ‘smart’ about visa facilitation for travel.”

I n t h e Ph i l i p pi n e s , President Benigno Aquino III had issued Executive Order 29, outlining his government’ open-skies policy, which involves allowing foreign airlines to f ly to airports other than the Ninoy Aquino Inter nat iona l A i r por t (NAIA). (Interaksyon)

Flexible... from page 4

“While there can b e u n iver s a l cor p or ate governa nce pri nciples and best practices which regulators can look to, we recognize that intricacies pre va i l i ng may requ i re contextua lization of the cor porate governa nce framework to suit domestic conditions,” he said.

Ranjit said Malaysia had since the Asian financial crisis, established a strong regulatory framework that underpinned the country’s corporate governance ecosystem.

He note d t hat mos t of the recommendations under t he Corporate G over na nce Bluepr i nt released in July 2011 had been implemented through the revised Malaysian Code on Corporate Governance and a mendments to t he listing requirements. “ We a r e c u r r e n t l y

h a l f-w a y t h r o u g h t h e five-year implementation period. A midterm post i mplement at ion re v ie w will be undertaken next year to gauge the extent of ef fec t ivene s s of ou r regulatory efforts to steer our direction forward,” he said.

T he rou ndt a ble w a s organized in partnership with the Japanese government. (BM)

Landbank... from page 5

OFWs who have returned permanently as well as those who still intend to continue t hei r c a re ers overs e a s .

Those who wish to continue working abroad should have a special power of attorney (SPA) executed in favor of their spouse, parents, or children of legal age.

For further information or assistance, interested OFWs may visit the LANDBANK website (www.landbank.com) or call (02) 405-7640 or visit the nearest LBP Lending Centers.

(Photo shows President Benigno Aquino III with Ms. Portia Chen, a beneficiary of the OFW Reintegration Program during the awarding of checks to OFW-borrowers during the 2013 Labor Day Job Fair at Camp Aquino, Tarlac City. Look ing on are OWWA Administrator Ca r mel ita Di m zon a nd LANDBANK President and CEO Gilda E. Pico.

Ready... from page 1

its safety and paving the way for the start of commercial operations.

“This will be the gateway to Northern Mindanao and is one of our finest airports,” Aquino told the guests and public officials who gathered at the airport to watch the inaugural flight.

Aquino later led officials in inspecting the facilities of the 7, 184-square meter airport terminal building, which is expected to cater to 1.6 million passengers a year.

“Ito ang magpalago sa turismo dito sa Northern Mindanao (This will be a boon to tourism in Northern Mindanao),” Aquino said.

The President brushed a side t he s a fet y i s sue s raised by the Cagayan de Oro Chamber of Commerce and Industry (Orochamber), which opposed the airport’s opening due to lack of modern navigational equipment like the Instrument Landing System (ILS).

“Lag uind inga n, even without the navigational aids, is safer than Lumbia airport,” Aquino said.

Aquino noted that the old Lumbia airport is located near the mountains south of Cagayan de Oro while Laguindingan sits on a flat terrain near the seashore, an ideal location for airports.

The issue on safety has dogged the opening of the airport ever since Aquino ordered its opening on April 15, which was eventually changed to June 15.

“It is now the responsibility of the government. They are opening the airport, they must face the consequence i f somet hi ng happens,” Orochamber president Efren Uy said.

Uy said t he business sector was concerned on the safety of the passengers upon learning that Laguindingan Air por t w i l l be opened without navigational aids that would help airplanes land safely.

T h e C i v i l Av i a t i o n Authority of the Philippines (CAAP) has promised that the ILS; VHF Omnidirectional Range Navigation (VOR); Meteorological Observing System (MOS); Precision Approach Lighting system (PA L S); a nd P re c i sion Approach Path Indicators (PAPI) will be installed by May 2014.

“We hope the government will hasten the installation for the sake of the safety [of passengers],” Uy said.

Uy said that due to lack of navigational devices, planes would be allowed to use the airport only from 6 a.m. to 6 p.m. daily for safety reasons.

He said this will limit the arrival and departure of airplanes from the present 28 flights a day in Lumbia airport to only 14 flights a day at Laguindingan. “ The reduction of daily f lights will result to tremendous losses on the business sector,“ Uy said.

He estimated that losses in marine and cut-f lower products alone will reach P250 million by the time the operations of the airport will be fully normalized next year upon the installation of the navigational devices.

Aside from marine and cut-flower products, Uy said the f light reduction will have serious effects on the white water rafting adventure along Cagayan de Oro River, a major tourism attraction in Cagayan de Oro City.

“We a re hopi ng t he operations w ill be f ully nor ma l i z ed a s soon a s possible so the effects will

be minimized,” Uy said.

The Orochamber has pushed for the postponement of the opening of Laguindingan Airport until next year after all the navigational equipment shall be installed.

But the pleas from the busi ness cha mber were not heeded by the Aquino administration, which wants to de-clog air traffic at the Manila airport.

Among the plans to declog t he Manila airport was to transfer the civilian cargo operations to Sangley military airbase in Cavite where the Philippine Air Force 15th Strike Wing is based.

The Philippine Air Force 15th Strike Wing, which has 30 to 40 combat planes, will in turn transfer its operations to Lumbia airport.

Mohammad Naga Rascal, CAAP Northern Mindanao director, said PAF personnel will immediately close the perimeter gates of Lumbia airport to protect its facilities r ig ht a f ter com mercia l passenger operations will cease at 10 p.m. on June 14.

Pau l Nigel Vi l larete, Mactan-Cebu International Airport Authority manager, allayed the fears of local traders and the public that the lack of navigational aids will affect the safety of plane landings and takeoffs.

“Mactan-Cebu airport, which is the second busiest airport [in the country], do not have an Instrument Landing System (ILS) since 2010. Yet we are open 24 hours a day without an ILS,” Villarete said.

He said Mactan-Cebu airport, which caters 240 flights a day, got only its ILS just a month ago.

“An ILS is a very important navigational aid but it does not mean that we do not open an airport because it lacks such system. Many airports in the world are operating without an ILS,” Villarete said.

Vi l larete said t hat L a g u i n d i n g a n’s s i n g l e runway of 2,100 meters x 45 meters can accommodate up to four plane landings and take-offs in an hour.

He said the runway is capable of accommodating A irbus 30 0 to 320, t he common passenger aircrafts of Phi lippine a irline companies.

“These companies will surely deploy more aircrafts here if they see there is a demand. No company will miss that kind of opportunity.

Business will dictate the frequency of the aircrafts,”

Villarete said.

The planning of L a g u i nd i n g a n A i r p or t was started in 1991 by the Louis Berger Group, which conducted the study entitled “Cagayan-Iligan Corridor Airport Feasibility Study and Master Plan.”

The South Korean Export and Import Bank provided most of the P7.8 billion loan to construct the airport. A budget of US13.36 million (around P570 million at current exchange rate) was provided for navigational equipment.

Flights...

from page 1 Transportation Secretary Joseph Emilio Abaya said the government is equipping Laguindingan airport with an instrument landing system (ILS) by May next year.

“We believe that this would make the airport more appealing to foreign air transport companies and we hope that this would translate to foreign airlines flying directly to Mindanao by next year,” Abaya said.

The Laguindingan airport, expected to become the gateway to the southern Ph i l ippi ne s , w i l l s t a r t commercial operations on June 15.

Abaya said the government will bid out the operation and maintenance of the Laguindingan airport through a public private partnership (PPP) scheme.

The DOTC had earlier post poned t he openi ng

11

Laguindingan Airport from April 30 to June 15 to avoid disrupting plans of travelers during the summer season.

Airport... from page 1

which opens June 15.

Airport features The Laguindingan Airport sits on a 400-hectare proper t y, whose master design was created in 2000.

It features a 2.1-kilometer runway and a 7,184-square meter passenger terminal building with a capacity of 1.6 million passengers per year.

T h e C i v i l Av i a t i o n Authority of the Philippines (CAAP) will temporarily operate the airport using Visual Flight Rules until a navigation equipment called Instrument Landing System is installed by May 2014.

President Benigno Aquino III led the final inspection of the airport on June 11.

Joining him were Transportation Secretary Joseph Abaya, Misa mis Oriental Governor Oscar Moreno, CAAP DirectorGeneral William Hotchkiss I I I, a nd S out h Kore a n Ambassador Hyuk Lee. Businessma n Ja ime Augusto Zobel de Ayala, chairman of the Philippines’ oldest conglomerate Ayala Corp., was also there.

Apart from San Miguel, Ayala expressed interest to participate in the bidding of Laguindingan’s O&M.-Rappler

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