BusinessDaily (June 18, 2013)

INSIDE LOOK

PNoy okays bill to develop agri and fisheries sector

Mainstreaming the National Greening Program

Top foreign firms now seek TESDAtrained skilled workers

UCPB Savings expands network

Japanese e-vehicle maker ties up with PHL firm

BusinessDaily Economy

PAGE 2

Corporate World

PAGE 3

CREDIBLE

Volume III, No. 237

Market Indicators

As of 5:57 pm june 17, 2013 (Monday)

FOREX

PHISIX

US$1 = P42.87

6,290.61 points

6 cents

X

48.35 points

X

Briefly War vs poverty DAVAO C i t y - - Fl ag - r a i s i n g 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.

SSS collections BUTUAN Cit y - - The So c ial Securit y System (SSS) collected a total of P4.76 billion in contributions from members in Visayas and Mindanao from January to March 2013, up by nine percent from its P4.35 billio n c olle c t io n dur ing t he same period in 2012. This was disclosed by SSS President and Chief Executive Officer Emilio de Quiros, Jr. during a “Kapihan sa SSS” with members of the local press.

De Quiros said collections in the Northern Mindanao region also grew by five percent for a total of P704.25 million. He was in the region for the formal launch of SSS partnerships with two informal sector groups as well as meet with employers and members in the area, “Our accomplishments in Visayas and Mindanao, as well as in Northern Mindanao, are in step with overall SSS per formance during the first quarter, which is characterized by higher contribution collections c o m p l e m e nte d by i m p r ove d management of benefits,” he said.

Eco-Business

PAGE 4

Environment

RELIABLE

Cagayan de Oro City

Tuesday

PAGE 5

Billboard

PAGE 8

IN-DEPTH

P15.00

June 18, 2013

P853M lines mulled to carry new coal power

T

NGCP setting up new substation for Aboitiz’ new coal-fired power

H E Nat iona l Gr id Corporation of the Philippines (NGCP) is setting up a P853-million substation project in Davao City which is intended to accommodate the entry of Therma South, Inc.’s (TSI) 300-megawatt (MW) coalfired power plant.

NGCP has asked t he Energ y Regulatory Commission (ERC) to approve its application in a petition published on Monday.

The NGCP is the private firm that operates, maintains and develops the country’s transmission network after it acquired the 25-year concession of National Transmission Corp. in 2009.

In its petition, the country’s power power/PAGE 11

DOE exec sees another oil price hike this week

MANILA -- Oil prices are expected to increase by more than P0.50 per liter this week given t he streng t hening dollar.

“The dollar has strengthened a lot last week and this has a bigger impact than the increase of the oil price per se,” Department of Energy (DOE) Director Z e n a id a Mon z a d a told reporters Monday.

The United States currency With the upcoming new power capacity from Aboitiz Power’s coal plant was genera l ly st rong in in Davao, new transmission facilities will be set up by the National Grid recent weeks on investors’ Corp. of the Phils. (NGCP). hike/PAGE 11

One Network Bank mulls expansions in next 2 years

By CARMELITO Q. FRANCISCO Correspondent

THE Davao City-based One Network Bank is adding 10 branches and 55 extension offices within the next two years in Mindanao and in the island of Panay. Alex V. Buenaventura, president of

the bank, said in a statement that five of the branches and 40 of the extension offices planned will be in Mindanao while the rest will be in Panay. mulls/PAGE 11

DoTC OKs airport fees LIVELIHOOD PROJECT. A mother and daughter spin the wheel that would turn coco fiber into strands for their Coconet Project in Brgy. Elias Aldana, Las Pinas City.

Several families have been gaining income from the project provided by the Villar Foundation, headed by senator-elect Cynthia Villar. The incoming senator vowed to replicate her livelihood programs throughout the country once she formally assumed office on June 30, this year. photo by bong d. fabe

T H E D E PA R T M E N T of Tr a nspor t at ion a nd Communications (DoTC) approved on April 12 the passenger service charges proposed by the aviation authority for f lights from Laguindingan International Airport, according to a

resolution published in a newspaper yesterday.

In Board Resolution No. 2013-059, the Civil Aviation Authority of the Philippines (CAAP) proposed terminal fees of P200 and P700 for domestic and international DoTC/PAGE 11

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

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

BusinessDaily CREDIBLE

RELIABLE

IN-DEPTH

Economy

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Christine Cabiasa

2 NFA-GenSan assures stable supply of rice Samal resort owners tuesday - june 18, 2013

By CATHERINE T. APELACIO, Contributor

GENERAL SANTOS CITYThe National Food Authority (NFA)-GenSan assured the public today that there is no shortage of NFA rice in all its accredited retail outlets in the city and in neighboring Sarangani province.

This assurance came in anticipation of the rainy season, and that the rice stock may come “lean” as June to August is planting season in the Philippines.

Rainy season, according to Philippine Atmospheric Geophysical and Astronomical Services

Administration (PAGASA) has already begun early last week.

Edegary Roncal, NFA provincial manager here said that NFA will guarantee for the “availability and visibility” of NFA rice in all outlets in its area of responsibility.

He also revealed that NFA Administrator Orlan Calayag directed all NFA Regional Field Offices nationwide to monitor and ensure that supplies of NFA rice sold in the market are available and can be readily accessed

by the public especially the poor.

“NFA GenSan assures the public that the 151 active NFA rice market outlets here in the city and in Sarangani have stable supply of rice,” Roncal said.

He also stressed that NFA “has enough buffer stocks ready to meet the demands” of local governments and those agencies undertaking or having a continuing relief operations in areas stricken by man-made or natural calamities.

According to Roncal,

Bangus sanctuary in Balingasag, Misamis Oriental soon to be developed under the new bill. photo by christine h . cabiasa

NFA rice can be bought at P27.00 per kilo in any of its rice retail outlets in SarGen (Sarangani-GenSan) area.

To pre-empt any rice shortfall, Alma Sañada, NFA acting regional information officer told PIA General Santos City that the agency continues to buy palay at P17 per kilo with incentives such as additional 20 centavo per kilo for the drying and 20-50 centavos per kilo for the delivery depending on the distance.

Moreover “there is also supply/PAGE 11

to cooperate with DENR on jetty issue

By RUDOLF IAN G. ALAMA, Contributor

DAVAO CITY- Several resort owners in the Island Garden Cit y of Sama l (IGaCoS) are willing to collaborate with the Department of Environment and Natural Resources (DENR) to seek for a solution regarding the various brea kwaters and jetties that have been constructed along the island’s shoreline.

A raceli Ay uste v ice-

president of the Samal City Resort Owners Association (SCROA) said that meetings a nd d ia log ues bet ween resort owners and the local gover n ment h ave b e en ongoi ng re ga rd i ng t he move by the government to implement foreshore laws particularly on the prohibition and dismantling of breakwaters and jetties issue/PAGE 11

The President Aquino signed on June 5 Republic Act No. 10601 otherwise known as the “Agricultural and Fisheries Mechanization (AFMech) Law”.

for agricultural and fisheries production, processing and marketing.

The state shall strengthen support services such as credit faculties, research, training and extension programs, rura l infrastructures, postharvest facilities and marketing services.

T h e l a w, l i k e w i s e , mandates the state to deliver integrated support services to farmers, fisherfolk and other stakeholders, and assist them to be able to viably develop/PAGE 10

PNoy okays bill to develop agri and fisheries sector T he Ac t, which is a consolidation of Senate Bill No. 3338 and House Bill No. 6548, was finally passed by the Senate and the House of Representatives on February 4, 2013.

The law mandates the state to promote the development and adoption of modern, appropriate and cost-effective and environmentally-safe

agricultural and fisheries machinery and equipment to enhance farm productivity and efficiency in order to achieve food security and safety and increase farmers’ income, the President said.

The state is mandated to prov ide a conducive environment for the assembly and manufacture of engines, machinery and equipment

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Nelson Constantino

CorporateWorld

Top foreign firms now seek TESDA-trained skilled workers The Technical Education and Sk i l ls Development Au t h o r i t y ( T E S DA) continues to win respect of major foreign and local companies looking for highly skilled workers.

According to TESDA director genera l Joel Villanueva, the prestigious companies such Warner Bros., Walt Disney, Hanjin and Keppel Corp. have been inquiring with TESDA for skilled workers for the past few months. ”They look for skilled workers like animators. Even big companies from Kuwait and Abu Dhabi, they sent letters ask ing about our skilled workers,” Villanueva said in an interview with PNA du r i ng t he recent launching of its Google Apps for Education project.

Villanueva has attributed T E S DA’s s u c c e s s e s i n providing world-class skilled workers to t he refor ms i mplemented u nder t he administration of President Benigno Aquino III. ”We’re happy with this development because these are the testaments of what we are doing like we’re able to get ISO certification,” he said.

Due also to ISO certification, Villanueva said some big foreign companies

TESDA Director General Joel Villanueva emphasized that there are more projects and scholarships to be implemented by TESDA. photo by shaun alejandrae yap uy

have let go the required five year experience for every Filipino skilled workers who graduated through TESDA. ”It’s a big help for our graduates who need to apply here and abroad without having experience but just a certification from TESDA,” Villanueva said.

From five regional offices,

Villanueva revealed that two more TESDA offices in the region are set to get ISO certification in three weeks time.

Villanueva said based on a survey conducted among 5,500 companies, more than 86 percent of the employers have expressed contentment TESDA/PAGE 10

BusinessDaily CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

3

BusinessDaily

4

CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

EcoBusiness

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Bong D. Fabe

TVIRD allots P113-M for Canatuan mine rehab

By Jonathan L. Mayuga

DENR urged to fast track ECC for TVIRD proj

SIOCON, Zamboanga del Norte—TVI Resource Development (TVIRD), the Philippine affiliate of Canadian miner TVI Pacific, has allotted P113 million for the rehabilitation of mined-out areas at its Canatuan mines here.

The Canatuan mine has reached its mine life after 10 years of operation and the company is now preparing to implement decommissioning and rehabilitation plan by the end of the year.

The company has tentatively scheduled its last shipment of copper and zinc concentrates from the said site until the first quarter of 2014.

Joneil F. Ano, TVIRD corporate social commitments manager, said the company help provide the community with alternative livelihood to sustain economic activity.

“As far as TVIRD is concerned, people in Siocon will do just fine after Canatuan mine,” he said.

As part of its rehabilitation plan, the company recently established TVI Agri Products Inc. which recently forged ties with Kennemer Foods International, a contract farm operator, for the production of cacao in Siocon and Baliguian towns in Zamboanga del Norte.

TVI Agri Products is tapping farmers, including members of the Subanon tribe, as

partners for the cacao initiative. The target is develop 100 hectares of cacao plantation, initially outside the Subanon’s Certificate of Ancestral Domain Title, within which TVIRD operates the Canatuan mine.

TVIRD boasts of a successful progressive rehabilitation program during its more than 10 years of operation. Kaycee Crisostomo, senior manager for public affairs of TVIRD, said the company has planted over 360,000 trees, which is more than five times the number of trees affected by its operation.

Crisostomo said the company is in the process of seeking an expansion of its mining tenement in Siocon, targeting a nearby area which it hopes to develop to “extend” Canatuan mine’s legacy.

TVIRD is also pursuing the Balabag gold project in Bayog, Zamboanga del Sur, where it has a 5,000-hectare mining tenement. It has already invested $25 million for exploration and will pour in an additional $25 million to develop the necessary facilities for commercial operation. (BM)

Canatuan open-pit mine (Photo courtesy of TVIRD)

PAG A DI A N C I T Y— Stakeholders in Bayog, Zamboanga del Sur are urging the Department of Environment and Natural Resources (DENR) to expedite the issuance of the env ironmenta l compliance certificate (ECC) to TVI Resource Development Philippines Inc. (T V IR D) for its mining project.

Wit hout t he ECC, TVIRD cannot proceed w it h t he necessar y infrastructure development to pave the way for the commercial operation of the said DENR/PAGE 10

UNDP assesses Japanese e-vehicle maker implementation Replicating Iceland’s ties up with PHL firm of water system geothermal spa in PHL JAPANESE electric vehicle maker Terra Motors Corp has forged a partnership with a local firm for the manufacture of electric vehicles in Laguna for the domestic market and for export, an official said.

Toru Tokushige ,Terra Motors chief executive officer, told reporters in a briefing that they have partnered with a local firm for the assembly of electric vehicles here.

“We have invested $20 million for the production of electric vehicles here.

Most of the investment will go to procurement of parts,” he said.

He noted that the facility in Laguna has a production capacity of 10,000 units per year.

The electric vehicles to be assembled in the site would be for the local market as well as for export.

Tok u sh ige s a id t he firm plans to participate in t he bidd ing for t he Asian Development Bank (ADB) and Department of Energy’s (DOE) e-tricycle

projs in ZamNor

An electric vehicle by Tera Motors Corp.

project this week.

The project involves the roll-out of 100,000 e-tric ycles to loca l government units until 2016. Tokushige said the firm has already developed a sample e-tricycle unit based on t he desig n provided by the ADB and DOE. If Terra Motors would be selected for the project, he said the e-tricycles would be manufactured here.

He added other electric

vehicles such as electricbicycles would be produced here. “ We a l r e a d y h a v e orders from customers in Thailand and Indonesia,” he said.

The f irm, he added, plans to seek incentives from the Board of I nve s t ment s for t hei r manufacturing operations.

“We are working on the d o c u m e nt at i on n ow,” he sa id f u r t her. (EcoBusiness)

PAGA DI A N C I T Y—A n evaluator from the United Nat ions Development Program (UNDP) has recently visited the municipalities of Katipunan and Kalawit in Zamboanga del Norte to assess the implementation of water system projects by conducting a series of interviews with Barangay Water System Associations (BWSAs), municipal officials and recipient-communities.

U N DP sent R icha rd C h iw a r a to gat her t he problems and challenges encountered in the project implementation, and more specif ica l ly to k now its impact on the beneficiaries.

C h iw a r a s a id “ it i s impor tant to assess t he resu lt s of t he prog ra m in order to improve and enhance some areas such as financing, planning and technical assistance.”

“Water is a governance issue for it serves community.

In this governance, there must be mutual accountability between the consumer and the provider. The provider must see to it that the delivery undp/PAGE 10

FILIPINOS will not need to travel any further than Mindoro as the Montelago geothermal resort spa with a wellness center in Barangay Montelago, Naujan, Oriental Mindoro is replicating the world-famous Blue Lagoon Spa in Reykjavik, Iceland.

New energy player Constellation Energy Corp. (CEC), along with partners Emerging Power Resource Holdings, Inc. (EPRHI) and Dutch company IF Technology, have started mapping out the Mindoro geothermal project, and its potential of generating up to P70 megawatts.

“Aside from providing electricity, we will build a new attraction for Mindoro. We are setting Iceland’s most popular visitor attraction as our pattern. The Blue Lagoon with its geothermal seawater minerals, silica and algae provide a rejuvenating spa. The water simmers at temperatures between 37 and 39°C. One can relax in a sauna, steam bath carved out of a lava cave and a massaging waterfall,” Dr. Antonie de Wilde, EPRHI Project chief executive officer, said.

The Blue Lagoon, featured by CNN as one of top 10 wellness retreats worldwide in 2011, is artificial and was created as an over-spill pool for the nearby Svartsengi geothermal power station. When heat and electricity are generated from the water, it is pushed through to the lagoon. The geothermal spa allows travellers enjoy the magnificent view or dip in the waters to benefit from its healing properties.

The Blue Lagoon website said, one can “slather on the rich mix of minerals, silica and algae provided in buckets along the sides of the huge outdoor pool, or get a professional massage and visit their clinic for psoriasis sufferers.”

Like Blue Lagoon in Iceland, Montelago’s geothermal power plant after producing electricity, will pump the excess water into the resort. The superheated water used spa/PAGE 10

Mindanao Star

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

Your Community Newspaper

Zamboanga Peninsula

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Christine Cabiasa

BusinessDaily

Environment

CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

Mainstreaming the National Greening Program

5

By REY ANTHONY H. CHIU, Contributor

On an isolated stretch of highway in the interior of Bohol, barangay officials coordinating a roadside tree planting project years ago could only scratch their heads in frustration.

T h e m a ho g a ny a nd g’melina trees which form part of a greening project in the barangay now lie in a useless pile, too small to be used for lumber and too insubstantial to put a government’s road widening project at bay.

In another part, some private land owners who v e nt u r e d i nt o s i m i l a r activities also find their trees pruned or mercilessly cut as the growths threaten to reach power-lines.

Complaints like these are common and even this late, several sectors swore to do something about it.

In an attempt to arrest the problem, the MultiSectoral Forest Protection Committee (MFPC) set to lay the plan for action for a rationalized beautification and re-greening of Bohol’s ro a d side s , i n a re c ent

meeting, according to Emilia Roslinda, chairman.

The MFPC oversees the protection and conservation of Bohol forests and their products and is tasked to come up with an integrated forest protection and conservation plan in the wider effort to reclaim portions of forests that have been lost to human activity in the past years.

D e s pit e it s b e i n g a relatively green island when viewed from a distance, Bohol’s lush environment is a depleted picture far from one of decades ago, admits Provincial Environment and Natural Resources Officer Nestor Canda.

Himself a forester, Canda shared his experience during a radio forum that his office has been coordinating with groups that are into regreening projects.

However, not every tree-

READ!

www.businessweekmindanao.com

planting group coordinates with the DENR in their tree planting projects, he said.

Much of the problem arise from the absence of a rationalized forest protection action plan, said a Maribojoc b a r a n g ay c ap t a i n w ho requested anonymity.

He said in his barangay, a power utility is keen on trimming fire trees which the local government advocated for roadside beautification years back.

Some of the fire trees have grown to provide a low canopy over the highway, while some trees also rose to threaten powerlines.

B o h o l E nv i r o n m e nt Management Officer Leonilo Lafuente also pointed out that environment and forestry laws a re not as clea rly understood.

The MFPC has pushed an orientation for related forestry and environmental laws so it could guide the committee in crafting the MFPC action plan, Roslinda said.

Palm oil plantation in Kalabugao, Bukidnon which contributes to the greening of barren land. Before, this was an idle land with no trees planted. photo by christine cabiasa

DOST beefs up weather and flood monitoring system in Davao

By JOEY SEM G. DALUMPINES, Contributor

DAVAO CITY- An officer of the Department of Science and Technology XI expressed readiness in putting in place its early warning devices in Davao region to forecast occurrence of floods and bad weather early in July, 2013.

Eric Colmenares, science research specialist of the Department of Science and Technolog y X I said t he equipment comprises four automated rain gauges and three automated weather stations will be used to

warn residents of imminent danger as offshoot of heavy downpour like flash floods.

He sa id automated weather stations will be installed in Baganga, Davao Oriental, Davao City and Jose Abad Santos, Davao del Sur. Colmenares said automated rain gauges will also be set up in Bansalan, Davao del Sur, Panabo, Davao del Norte, Maragusan, Compostela Valley and Mati City, Davao Oriental.

“These sites were

selected by the Philippine Atmospheric Geophysical and Astronomical Services Administration, in order to measure t he a mount of rainfall and the wind generated once a strong we at he r s y s t e m l i k e a typhoon occurs,” he said.

Colmenares also disclosed that the Doppler antennas in Hinatuan, Surigao del Sur and Tampakan, South C o t a b a t o , r e s p e c t i v e y, are functional to forecast DOST/PAGE 10

BusinessDaily

6 T

CREDIBLE

RELIABLE

Opinion

IN-DEPTH

tuesday - june 18, 2013

Two become one THINK

hink a minute…An African man who had three wives A Minute asked his Irish friend who had By Jhan Tiafau Hurst only one wife, this question: “Do you like your wife?” His Irish friend replied: “I like her very much!” The African man shook his head and said very sadly: “I don’t like any of mine.”

A famous comedian gives this advice to young couples before they get married: “Of course, it’s important to love each other; but if you want to be really happy together, you better LIKE each other.”

Ray Rosa grew up in Italy and came to America as a young man in 1921.

There he met and married his wife, Isabel.

They settled in a small town where Ray worked as a barber most of his life.

Just a few years ago, Isabel became very sick and had to move to a nursing home in a nearby town to live.

Ray’s life and daily routine completely changed.

Every morning, 7 days a week, he takes a bus to the nursing home where Isabel waits for him in her wheelchair.

They spend the day together and Ray takes care of her.

Sometimes he brings his guitar and sings Italian songs for the other sick patients, and gives free haircuts to some of the men there.

Then at 5:30 every evening, Ray says goodbye to his wife and catches the bus home.

It’s very clear that Ray’s life has become one with his wife’s, so that his life is wherever she is.

That’s real love and happiness.

It doesn’t get any better than that.

You just can’t fill your heart with real happiness until you give it away to someone else.

Jesus Christ teaches that our life is much more blessed and happy when we give more than we receive. hurst/PAGE 7

BusinessDaily CREDIBLE

RELIABLE

IN-DEPTH

DANTE M. SUDARIA Publisher ROSE MARY D. SUDARIA, Ph.D. Manager

NELSON CONSTANTINO Editor-in-Chief

BONG FABE

Executive Editor

Ruel Pelone Online editor

cris panganiban Regional Editor

Cris diaz mike baños butch enerio Sub-Editors JOE DEL PUERTO FELICILDA URIEL C. QUILINGUING Editorial Consultants

DOLLY PELONE Comptroller

ALLAN MEDIANTE Managing Editor Shaun yap uy Section Editor

CHRISTINE CABIASA Copy Editor

CLIFFORD SANTILLAN RONALD B. MASTAIL Layout Artists

Crystaline pino Advertising

ATTY. MARIO T. JUNI Cell No: 09352379999 (088) 857 3599

F

Website: www.businessweekmindanao.com E-mail : businessweekmindanao@gmail.com Member: Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) a publication of

BusinessWeek MINDANAO ADVERTISING AND PROMOTIONS

I

C

D

vehicles here. ris iaz This is unacceptable since traveling from Cagayan de Oro City to Iligan under normal situation only takes a little over than one hour.

Even w it h t he DPW H maintenance project, traveling to Iligan from Cagayan de Oro City takes only two hours at most.

By the way, Iligan City is 88 kilometers west of Cagayan de Oro City.

Laguindingan is more or less around 40 kilometers.

In a standard travel time, it would only take a little over 30-minute from Cagayan de Oro City to Laguindingan airport.

Security is also one of the major concerns while one travels to Laguindingan airport. With a constricted highway, a travel toward the Lagundingan airport from either Cagayan de Oro City or Iligan City is vulnerable to highway robberies at a lesser degree. In other words, the execution of major crimes along the unsecured highways is not farfetch.

The four-kilometer stretch from the airport to the main highway is not also immune to the possible commission of crimes.

Diaz/PAGE 7

The BSP and other central banks in the world

ith the economy performing very well, the upcoming anniversary of the Bangko Sentral ng Pilipinas (BSP) on July 3 will definitely be sweeter. It is a great feat for one of the youngest monetary authorities in the world.

Established in 1993, the BSP (www.bsp.gov.ph) replaced the old “Central Bank of the Philippines,” which was founded in 1949. It was created by virtue of the 1987 Philippine Constitution and the New Central Bank Act, which gave the bank fiscal and administrative autonomy from the Philippine government.

The BSP is just one of the 186 central banks around the world. The banks differ in name – some are called “reserve bank,” “monetary authority,” or “national bank.” They, however, share common tasks such as setting monetary policy, issuing of national currency, acting as the bank of bankers, supervising and regulating banks, and lending to ailing banks. All of them also serve as the bank of their respective governments.

The central banks also manage their nation’s foreign exchange reserves. These are deposits in foreign currencies that can be used to deal, trade, or make payments internationally.

For example, Asian countries have deposits which are in US dollars or Euro.

According to the International Monetary Fund, the combined foreign exchange reserves of the world’s central banks is now worth $11 trillion.

Central banks have existed for a very long time. In fact, the BSP is 325 years younger than the oldest operating central bank in the world - the Bank of Sweden (www.riksbank.

Juni Law Office Cruz Taal St.,CDO Legal Counsel

The Business Daily is published by BusinessWeek Mindanao Advertising and Promotions daily with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Department of Trade and Industry (DTI), Region 10 with Certificate No. 00875701, and with Business Permit No. 2013-10946, TIN No. 946-396-807 – Non VAT. Tel. Nos.: (088)8578447, 745380, 0923-432-0687, 0917-7121424

Travelers cite traffic woes and security concerns

LAWS during the first few days of operations at the Laguindingan Airport in Misamis Oriental started to manifest. However, these maladies were not new.

This corner has written a lot about the Laguindingan airport – its operations and the lack of it.

The first of the pioneering passengers who flew last Saturday, when the airport opened for commercial flights, had a lot too many observations of immediate concern.

Well, as said most of these predicaments were not new.

However, passengers immediately noticed the “heavy traffic” along the highway from Cagayan de Oro City to Laguindingan. The traffic exacerbates as the Department of Public Works and Highways (DPWH) continue to dig holes along the way.

Many complained that the DPWH road maintenance along the Cagayan de Oro – Iligan City corridor has been going on for more than a year now.

Yet, until now, the DPWH maintenance project frustrates the commuting public. Blame the contractor for the sloppiness. However, it is the job of the DPWH to see to it that completion of the maintenance project would be on time.

Good if the highway road is six or eight lanes for any maintenance project would not contribute to traffic congestion in the area.

Can anyone imagine that traveling to the Laguindingan airport from Cagayan de Oro City as the maintenance project goes on would take two hours?

We are writing of passengers with private service

W

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

com), which started in 1668.

The Bank of Amsterdam in O ut the Netherlands, founded in

By Ignacio Bunye 1609, actually preceded the “Riksbank,” but it closed for good in 1819.

United Kingdom’s Bank of England (BOE), however, is the one widely-considered as the pioneer of the modern central banking system. Journalist Jason Rodrigues gave a brief history of the BOE (www. bankofengland.co.uk) in his 2009 article for the British newspaper The Guardian.

He said the Bank emerged in 1694 to serve as the government’s banker and debt-manager. Eventually, it became a “lender of last resort” to smaller banks and the issuer of the country’s national currency. Both are now common functions of central banks today, including BSP. The BSP is just one of the 186 central banks around the world. The banks differ in name – some are called “reserve bank,” “monetary authority,” or “national bank.”

They, however, share common tasks such as setting monetary policy to ensure price stability, issuing of national currency, acting as the bank of bankers, supervising and regulating banks, and lending to ailing banks. All of them bunye/PAGE 7

SPEAKING

Talent we allow to go to waste!

t is amazing that when we meet people with great potential and who are left to waste; does it not become our fault should we not be instrumental in propelling them to greatness assuming of course that you hold with you the opportunity to do so?

Clapping to show appreciation should never be enough.

The passive approach called appreciation is simply unacceptable and to leave it be has to be foul. Then again we do have this very particular trait of keeping others down just so we prop ourselves up. This is what we call the “crab mentality.”

Most managers suffer from this decease especially in this country. There are a number of good writers out there who never see publication in major broadsheets simply because they don’t have the means or politics for inclusion.

Our editors to begin with have all remained the same and their points of views dictating what we know to be public opinion.

Thank God for the internet and social sites that now allows a platform for talent to prosper. The same goes for TV where we are subjected to the same old faces that are required to be young but of no real talents other than to smile, act stupid and to clown around.

Editorials and TV hosts for the more serious are downgraded to look animated as if a freak, if you

SUPER

get my drift.

Then there are leaders we B randing have met in our lives that never By Harry Tambuatco get to see authority that may improve many lives. There are many not some as of the latest elections who get the mandate from the people with no proven competence other than a popularity either driven either by money or media (i.e. movies) who occupy seats in government to our detriment.

Is this not our fault as well – or should we just blame this to the tyranny of the masses.

We remain passive over time and before we know it we are older and physically relegated to the background. And yet in business when we identify talent we go out of our way to hire these talents if not nurse them to fully develop but all for the singular purpose of profit.

How very sad, isn’t it! Love of country should always remain priority like CSR or corporate social responsibility or even personal social responsibility because it is of the tambuatco/PAGE 7

BusinessDaily

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

Hurst... from page 6

Marriage is all about giving and forgiving. It’s living everyday with your best friend for life, so your two lives become one.

Marriage is a decision and commitment you make not just for a few years, but for the rest of your life—no matter what happens.

You choose to do all you can for your mate’s happiness, since you realize that’s the only way you’ll be happy yourself.

So why not ask Jesus Christ to forgive you for living your own way?

Then ask Him to start changing you so you can start enjoying real love with your spouse; because two is definitely better than one— when you really become one.

Just Think a Minute…

Diaz... from page 6

We believe ‘though those airport officials could address the question of security between the airport and toward the corner of the main highway.

Perhaps, airport officials could hire airport police tasked to conduct regular patrol along the road from the airport to the main highway.

Air travelers a lso expressed apprehensions at the lack of service vehicles that could convey from the highway toward the airport.

Certainly, passengers without

service vehicles would take passenger buses to get to the airport.

The idea is to save since the fare from Cagayan de Oro City to Laguindingan is only about P 40.00 to 50.00.

Now, we are only writing about traffic problems and securit y while traveling toward the airport.

Ma ny more wou ld definitely come in the days ahead. React: crisguardian@ yahoo.com

Bunye... from page 6

also serve as the bank of their respective governments.

The central banks also guard their nation’s foreign exchange reserves. These are deposits in foreign currencies that can be used to deal, trade, or make payments internationally. According to the International Monetary Fund, the combined foreign exchange reserves of the world’s central banks is now worth $11 trillion.

Since every country has its own history and laws, their central banks may also have characteristics unique to them. The United States of America’s central bank for instance, which is called the US Federal Reserve System (www.federalreserve.gov), has a unique structure with not one but 12 banks.

The distinction is explained in the book The Federal Reserve System: Purposes and Functions. It said the “Fed” has one central

government called the Board of Governors, which oversee 12 regional Federal Reserve Banks (FRB) situated in the country’s major cities. The Board sets the monetary policy while the FRBs serve as the “operating arms” of the system in their respective districts.

The European Central Bank (ECB) is another interesting example. Founded in 1999 when the Euro was introduced as the single currency in Europe, the ECB (www.ecb.int) sets the monetary policy for its 17 member states, which include Spain, Germany, France, and Italy.

The countries under it, however, still have their respective national central banks to help implement the policy and ensure the stability of the Euro. The reserves of each national bank are also separate from ECB’s reserves, which is shared by the member states.

You may be wondering, is there also a bank for the world’s central banks?

The answer is yes, and it is the Bank of International Settlements (BIS), the world’s oldest financial organization.

Based in Switzerland, the BIS (http://www.bis. org) accepts deposits from central banks and serves as a forum for policy analysis and information-sharing among central banks. It does not, however, have any regulatory or supervisory powers over its member central banks.

Know i ng t he g l ob a l financial system that the BSP is part of will make us more appreciative of the positive reviews, credit ratings, and awards that the institution is getting. It is one of the youngest and certainly, not one of the richest (yet) but the fact that it was able to keep our economy strong while the rest of the world was in a financial crisis says a lot about both its potential and capability.

So for its 20th “birthday,” my wish is that the BSP continues to soar as it develops to be a truly worldclass monetary authority.

!

D A E R

7

Tambuatco... from page 6

same pool we derive talent from for our businesses and where our leaders come from.

The rich and the powerful that have influence are more to blame with all their time prioritized for personal gain.

The richer they get the more money they require, this we call simply greed! The academe is not to be left out with their responsibility to the country to improve the home grown talents not necessarily just inside the campuses but in the economic and political arenas as well if need be.

The Church also has its fault all considering how splintered they are with their conflicting messages outside their own faiths. It has to be true; the more one reads the more confused the messages become.

www.businessweekmindanao.com

ADVERTISE NOW!!!

BusinessWeek Mindanao, Tanleh Bldg. , Abellanosa St. Cagayan de Oro City

BusinessDaily

8

CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

Billboard

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776 Editor : Shaun Alejandrae Yap Uy

SM CDO commemorates 115th Independence Day

By Christine H. Cabiasa

In celebration of our anniversary as a free country from conquerors, 7, 107 islands of the Philippines had given utmost honor to sung heroes who offered their lives just as this present generation to experience liberty and this country to attain sovereignty.

As noted, every region has its own way of commemorating the Independence Day. Some did it through live presentations portraying how our heroes fought for it; some went to tombs of our heroes; some shown respect to country’s patriotic symbols; some gave thanks and some just even hanged on their necks PHL signatures to address their pride as a Filipino.

Indeed, as muc h as individuals and groups showed their nationalism, SM City Cagayan de Oro never forgets, not just “never forgets” yet paid tribute to recognize this country’s exemplary latitude of freedom.

With this, SM City in partnership with the regional offices of the Department of Tourism (DoT) and Department of Labor and Employment (DoLE) and Vjandep brought a different touch to PHL’s usual tradition on celebrating the Independence Day. In hand, they carved out an edible map and flag extending their great indulgence as citizens of this country and their great honor to be one.

The edible map and flag was made out of Camiguin’s

pride pastels, hopias, and cheese sticks in which according to Col. Virgilio Jose, Vjandep owner, “one you can’t resist”.

Thus, it made their output “the country’s largest edible map and flag”.

3, 770 pieces of pastry delicacies were utilized just to come up with one, large map and flag. For the map, Luzon was made of 581 pieces of hopia, Visayas was made of 110 pieces of muffins and Mindanao was made of 275 pieces of pastel. Plus, 1, 750 pieces of polvorons and 1,000 pieces of cheese sticks as surrounding waters of PHL islands.

According to Col. Jose, Luzon marks the color of blue since as everyone conceive that it is the mainland of the country and that gross and developments are at its stakes; Visayas as red as early conquerors, the Spaniards first came and that our hero Lapulapu fought them, thus red symbolizes courage in which the “bisaya” can be highly noticed on; and Mindanao, the white color as it symbolizes the Mindaonons blessed with pure bliss and that different tribes dwells in the islands of Mindanao also.

As the first largest edible map and flag came into reality, we must weigh also the efforts of Vjandep as the initiator and maker of the pastry delicacies that composed the map and flag.

This writer, also from

St. Augustine Cathedral:

Reminiscing the past Story & Photos By LENIN QUIBLAT Liceo U Masscomm Intern

SM City CDO executives together with DOT-10 Director Catalino “Butch” Chan III, DOLE-X Director Atty. Johnson Cañete and VJANDEP Pastels' Col. Virgilio unveil the ‘PASTEL Philippine Map’ during the mall’s Independence Day celebration. Photo by SHAUN UY

the Island Bor n of FireCamiguin, took pride as Vjandep originally is housed in Camiguin, came into such an art like this. Indeed, Vjandep has flourished their business and has flourished Camiguin’s tourism also. When one will come to the island, they will see to it that they will bring

It was few years back when a friend told me that there are unexpected events came up more significant than wandering the city. Last year, a day before my friend went back to their province, he told me some interesting stories about the oldest church in CDO, the St. Augustine Metropolitan Cathedral.

Actually, I don’t know much about the church’s history as far as he knows about it. Aside from the religious significance of this church to Kagay-anons, this century old place of worship had been linked with myth or local folklore.

Looking on its exterior design, one could tell it’s a recently built Gothic architecture inspired church. The church was formerly built around 1845 and practically a century it was shattered throughout the World War II. It was reconstructed and merely the wooden cross in border was the vestige of the church.

Moreover, the patron saint of the church is St. Augustine, the famous saint of Augustinian friars. His feast is observed on 28th of August, date of his death. As practiced, Cagayan de Oro City celebrates Kagay-anon festival in tribute to their patron St. Augustine.

When you entered the cathedral, you'll be welcomed by convoluted design arches and antique wooden pews. Observing

boxes of Vjandep pastels as “pasalubong” to their loved ones. And I’m a proud Camiguinon for it.

Thus, SM City Cagayan de Oro, the DoT and DoLE, and of course Vjandep hope that next year they will have a lot more and new ventures to celebrate our country’s freedom.

UCPB Savings expands network

By Christine H. Cabiasa

The United Coconut Planters Bank (UCPB) Savings Bank, the retail arm of UCPB has opened its 3rd branch network in Market City, Agora Lapasan, this city on June 14.

Joseph C. Justiniano, UCPB President said that since Cagayan de Oro is pivotal to growth and development of UCPB Savings Bank in Mindanao, he decided to open the new branch.

According to Justiniano, UCPB Savings Bank has registered a 585 net income for the first quarter this year. “It is ahead of its projections on deposits, loans, and net income after tax. Its past due ratio stood at 2.7%, better than the industry’s 5.7%”, Justiniano added.

Also, Tomas C. Cloa Jr., VP Branch Banking Division Head said that according to their deposit profile, Cagayan de Oro City is the biggest deposit contributor in the region which is 40-50% of the total. “UCPB is the only bank also which is accredited by the Department of Education (DepEd) to lend to teachers,” Cloa Jr. added.

UCPB Savings Bank also embarked on the renovation of selected branches to project the rebranding image which the bank has begun in 2009 in collaboration with the parent bank.

“This is intended to consistently deliver our brand promise of being the right partner to our customers by providing more branches and channels in line with our vision to be the preferred bank in the communities we serve,” Justiniano said.

To date, UCPB has 38 branches nationwide and has installed 14 ATMs already.

“As we are into the development of the countryside and the rural areas, we hope this will strengthen more businesses, be it small, medium, or micro businesses,” Cloa Jr. said.

Cagayan de Ooro City Mayor-elect Oscar S. Moreno leads the ribbon cutting as UCPB Savings Bank opened a new branch network at Market City, Agora Lapasan, this city on June 14. With him UCBP Tomas C. Cloa Jr., VP Branch Banking Division Head (right), Mayor Jojo Pupos of Medina (2nd from right) and Oro Chamber President Efren Uy (left). Photo by SHAUN ALEJANDRAE YAP UY

the church incredible design will definitely make your day.

Making it one of its kinds, the ambient light at the altar illuminates as it came from heaven. Also the somber atmosphere made us more sense the divine existence.

Meanwhile, after we said our prayers, I recall what my friend told me about the relationship of an old folklore to St. Augustine Metropolitan Cathedral.

As he remember during her early days. A story had been conceded through many generations. About an underground tunnel below the church joined to the river, in which a giant golden whale called "oro" lives. If you’re a native Cagayanon, you have probably heard of the “giant fish” tale along the Cagayan de Oro River.

Some say it’s just a myth, a legend, a tale from the old age passed over the years. As me being curious, I delve into and read about it. I even knock a story of a priest being swallowed by this big fish when he took a bath in the river.

When the city experiences an earthquake, the old folks believe it's due to the movement of the golden whale's tail. It may be recounted as folklore or a myth but only the old folks of Kagay-anons can tell, he added.

If we follow the legend, only few locals know of an old tablet engraved from stone depicting that incident concerning the priest and the giant fish.

Many years before, this tablet was sited somewhere on the southwest tangible fence of what is now St. Joseph’s Garden of St. Augustine Church. Interestingly, this tablet was transferred right at the back of the Archbishop’s Palace, away from the public view.

A closer view of the tablet shows the ill fated American priest being caught by the giant fish. Now relating from that story, it always come in my mind who would have made this and why would someone carve such incident.

Furthermore, the St. Augustine Cathedral here in Cagayan de Oro City, is perhaps, the oldest church in Misamis Oriental.

It has withstood so many calamities and survived the war. Its original Spanish built church was destroyed in 1945 during the American liberation of Cagayan de Oro. Also the Saint Augustine Metropolitan Cathedral is an Archdiocese of the Roman Catholic Church in the Philippines, which comprises three civil Provinces of Misamis Oriental, Bukidnon and Camiguin. Today, it is headed by Archbishop Antonio J. Ledesma, S.J. Considering all facts or whether it’s just a myth, what we have in hand now, remembering the history of the church has become part of our lives.

Thus, there a lot of interesting behind stories in every landmark that should be shared among people and we should be proud being a Kagay-anon.

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

ClassifiedAds

BusinessDaily CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

9

ZAINZAID TRADING Direct Importer of All Kinds of Japanese Surplus QUALITY and AFFORDABLE PRICE

CDO Branch: National Highway, Zone 1, Igpit, Opol, Misamis Oriental

ROMEO “JAY” DELOS SANTOS Manager

Mobile Nos.: 09268423419(TM)

/ 09083873595

Davao Branch: Diversion Road km.7, Bangkal, Davao City

UMAR ASLAM - 09173254444

Gensan Branch: Brgy. Labangal, San Roque Makar, Gen. Santos City

ROBERT S. GUTIERREZ - 09103424549

KC COMMERCIAL Installer Water Refilling Station

Pryce Plaza Hotel

also available in Water accesories and water station needs

Carmen Hill, CDO, Tel. No.722791 to93/858-4537 E-mail:reservations@pryceplaza.ph

310-3605 0917-5099632

Tel. No. Mobile No.

Door#5 GOGO Bldg., Gaabucayan Corner Corrales Extn., Cag. de Oro, Misamis Oriental

---------------------------------

Heaven’s Cool Water

NEW DAWN PENSIONNE

Purified Drinking Water & Alkaline Ozonized Water

Velez-Macahambus Sts, CDO Tel Nos. 8571776, 721776 email : gchreservation@yahoo.com

310-3605 0917-7033462

Tel. No. Mobile No.

Main Office: Door#6 YMCA Bldg., Julio Pacana St., Brgy 21. Cag. de Oro, Mis Or

Block 21 Lot 1 NHA Phase 2 Kauswagan, Cagayan de Oro City

Branch Address:

FOR YOUR ADVERTISEMENTS PLACEMENTS CONTACT

For lifestyle and events updates in the City, read...

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

BusinessDaily

10

CREDIBLE

RELIABLE

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

IN-DEPTH

Tuesday - june 18, 2013

DENR... from page 4

mine in Sitio Balabag.

TVIRD, the Philippines affiliate of Canadian-owned TVI Pacific, has submitted the necessary documents to back its application for the issuance of an ECC in Januar y. Unti l now, t he DENR has yet to act on TVIRD’s application.

Residents of Sitio Balabag are reportedly becoming wary of the consequences of the delay in TVIR D’s operation, which will include an “environmental cleanup” to rid the mess left behind by illegal small-scale mining activities in Balabag Hills.

The entr y of TVIR D in the town of Bayog was welcomed by residents, including the Subanons, noting of the many benefits of mining as experienced by residents of Canatuan town in Zamboanga del Norte, where TVIRD operates a zinc-copper mine.

TVIRD President Eugene Mateo, in a statement, said the environmental cleanup i s t he c omp a ny ’s f i r s t priority to ensure the area is safe for the surrounding communities and to ensure that the company can start its mining operations right.

K ayc e e C r i s o s t omo, T V IR D senior ma nager for public affairs, said the delay in the issuance of the ECC is also putting strain on the company’s resources but, more importantly, is causing delay in the potential investment the company is willing to put in for the project. (BM)

UNDP... from page 4

of basic services in providing accessible and potable water must be properly managed,” he said.

In Katipunan, Chiwara advised Mayor Crisostomo T. Eguia to “think of innovative ways” such as engaging in Public-Private Partnership (PPP), t appi ng pr iv ate investors and/or tying up with other organizations like JICA, AUSAID, etc. to augment funding support for water system projects.

Mayor Eg uia a lso informed Chiwara that his municipality has embarked on water sanitation project in three barangays.

Eguia also disclosed that the water system project in five barangays using the P10 million allocation from the Department of Health (DOH) in 2011 is now 90 percent complete while the P2.4 million from DILG’s 2013 Bottom-Up Budgeting (BUB)

2013 appropriation would be used for the expansion and rehabilitation of the water systems of its seven interior barangays.

In Ka law it, Chiwa ra found the BWSA operation particularly in Barangay New Calamba “remarkable,” as the water system project has reportedly improved the living condition of the residents and that the waterborne diseases has gone down.

One beneficiary testified that before the BWSA, the residents there had to spend more time on fetching water from elsewhere than tending their farms or household chores. With the BWSA now, their income has improved as they have more time for their livelihoods.

Kalawit Mayor Eugenio Baliling also assured that by 2015, 85-95 percent of the residents there will have access to potable water as this one of the major priority programs of the municipality next to livelihood.

Chiwara also reminded the consumers to bear the responsibility of promptly paying their water bills, saying “it is your right to have water but the maintenance and services are not free.”

It can be recalled that the provision of water supply system to waterless areas is a joint program under the Millennium Development Goals Fund (MDGF) 1919 between and among the Department of Interior and Local Government (DILG), United Nations Children Fund (UNICEF), National Economic Development Authority (NEDA), National Water Resources Boa rd (NWRB) and UNDP. (PIA)

Spa...

from page 4

to run turbines that generate electricity and lower the cost of power in the islandprovince will also provide recreational and medicinal use.

Montelago will be revived as the 1964 law declaring the Montelago hot spring as a tourist resort did not achieve tourism growth as the place has not developed much for lack of investors into the remote barangay.

The Blue Lagoon, opened in 1999, is gaining popularity that it seems to have been present for many years now.

“We’ll include medical tou rism to t he ma ny at t rac t ions of Or ient a l Mindoro. The hot spring resort will boost tourism and economy,” said CEC Chairman Jose P. Leviste, Jr. Minera l baths in hot

springs are known to induce health benefits to include treatment for hypertension, relief for rheumatoid arthritis, treat skin inf lammations and fungal infections, effect detoxification and relieve stress. A whole line of skin care regimens and wellness products such as mud packs and silica facial scrub are also being studied to offer fresh and natural beauty concoctions.

Silica, dubbed as a “beauty mineral” is a key ingredient of many health and beauty products because it is known to rejuvenate the skin.

CEC, together with its technica l a nd f ina ncia l partners, identifying and developing geothermal steam fields. It is also developing energy projects in Biliran province and Negros Island.

I F Te c h n o l o g y i s supported by the Institute of Technology, Bandung. CEC ties up with Filtech Energy Drilling Corp. (FEDCO), represented by Bernardo Tolent i no. FEDCO is a Philippine-based company that pools the combined expertise and experience of the country’s pioneers in geothermal power, the Philippine National Oil Co.Energy Development Corp.

(MB)

DOST... from page 5

typhoons in Mindanao area.

He said that the DOSTPAGASA is also set to put up six water level monitoring system in Davao City.

Colmenares said their agency is waiting for the local government counterpart in terms of t he area of installation and security.

“Now that it is already rainy season, it is important that we have installed the sensors t hat w i l l ser ve as early warning device.

Incidentally, the steel parts of the equipment might be stolen so we need to put up a security,” he said.

Colmenares said the water level monitoring system will be installed in Barangay Lacson, Tamugan, Suwawan along the Davao River and other areas with active river system.

He sa id t he move is coordinated with the City Disaster Risk Reduction and Management Council.

TESDA... from page 3

to t he p er for m a nc e of TESDA graduates. ”And 92 percent of them made commitment to hire TESDA graduates,” he added.

The TESDA chief also revealed that 20 percent of

their students have already graduated from college.

With the launching of Google Apps for Education, Villanueva said TESDA is expected to boost the reach of its technical vocational education among Filipinos in the country. ” Te c h n o l o g y i s i nc re a s i n g l y pl ay i n g a starring role in schools and educational institutions in helping students learn.

Our adoption of the Google Apps is a testament to this,” Villanueva said.

Vi l l a nu e v a s a id t he Google Apps would allow the students and employees of TESDA to send and receive email with @tesda.gov.ph domain name, store data and share documents with Drive, hold web-based video conference with Google+ Hangouts and easily build websites with Sites.

He s a id t he G o og le Apps is part of TESDA’s modernization progra m which started a year ago when it opened an online training which has already at tracted over 80,0 0 0 students. (PNA)

Develop... from page 2

operate and manage their agricultural and fisheries mechanization projects.

Und e r t he Ac t , t he Department of Agriculture (DA) will craft a five-year N a t i o n a l A g r i-F i s h e r y Prog r a m to promote a conducive-environment for the local assembling and manufacturing of equipment for agricultural and fisheries production, processing and marketing.

The local government units, through an ordinance, sha l l a lso formu late i n consu ltat ion w it h t he DA and implement their respective provincial, city and municipal agricultural and fishery mechanization plans as a vital component of their respective local development plans.

The DA, together with the Department of Agrarian Reform, sha ll carr y out contiguous farming projects in order to effect suitable field shapes and sizes conducive to eff icient operation of agricultural machinery and equipment and likewise to ensure economies of scale.

The use of renewable and nonconventional energy such as wind, solar, hydro, biomass and other farm-based energy sources shall be promoted as power sources for the operation and maintenance of agricultural and fisheries machinery.

A l l ma nu fac t u rers,

fabricators, assemblers and importers must register with the Bureau of Agricultural and Fisheries Engineering (BAFE) within six months upon enactment of RA 10601.

Registrants must provide certification by an accredited certifying body of all products sold in the market within the next three years. Registrants must also submit to the list of local or imported equipment within a year after the enactment of the law.

The law imposes penalties and sanctions on prohibited acts such as sale or lease of agricultural and fishery machinery not registered with the BAFE and without warranty, among others.

Violators of the law may face a fine ranging from P1,000 to P10,000 and imprisonment of two months to one year.

“The Secretar y of Agriculture shall include in the DA’s program the implementation of this Act, the funding of which shall be included in the annual General Appropriations Act,” the President said.

T h i s Ac t sha l l t a ke effect after 15 days from its publication in the Official Gazette or 2 newspapers of general circulation. (PIA)

Supply... from page 2

a 30-centavo per kilo as cooperative development i n c e nt i v e f e e (C DI F ) given to a farmer who is a member of a cooperative or farmer organization,” she said.

Sañada also clarified that the P17.00 price per kilo is only good for “clean and dry” palay, saying NFA also wants to ensure the quality and integrity of rice being delivered and purchased by the agency.

Issue... from page 2

along the shoreline.

Ayuste said that the move will affect nearly all the resort owners in the island. She said the group is batting for property-by-property evaluation since not all resorts have the same geographical features.

She said that some parts of Samal have no long stretch of beaches unlike Boracay as some of its coasts are actually cliffs that stretches out to the sea and many resorts utilize jetties for docking of boats that ferry visitors to the area.

Ayuste added that jetties also function to trap the sand so that they may form small sand beaches and also breakwaters prevents the soil from further eroding into the sea.

She added that there are economic implications that must be considered. She said that as a resort owner (Punta del Sol) she spent around P2-million to construct a jetty. She said that jetties and breakwaters are difficult and costly to build since they usually have to wait for the low-tide to be able to construct the structures.

There are around 72 registered beach resorts in the Island Garden City of Samal these does not include several privately-owned seaside properties in the island.

Sa ma l Island w it h its alluring beaches and coastlines has been one of the most-visited tourism spots in the region. The recent Visit Samal Island 2013 held from April 27 to May 4 netted in 30,000 visitors to the island.

Ayuste said that based on 500,000 tourists in Davao del Norte (IGaCoS’ mother province) from January to April this year about 300,000 are Samal visitors.

!

D A E R

www.businessweekmindanao.com

BusinessWeek Read the latest in business every Sunday,

M INDANAO

YOUR LOCAL BUSINESS PAPER

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776

BusinessDaily

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

Power... from page 1

transmission service provider sought ERC’s nod to authorize implementation of the Toril substation project, which will be built in two phases.

The first phase, which is estimated to cost about P 73 0. 013 m i l l ion, w i l l involve realignment of the Toril-Davao transmission line; site development; as well as construction of a control building, 138-kilovolt (kV) roadways, 138 -kV cable trench, and a 138-kV switchyard.

The second phase will involve installation of a 50-megavolt ampere transformer and its associated power circuit breakers and construction of a 69-kV switchyard. The said phase is estimated to cost about P122.808 million.

NGCP said that the project will rise on an eight-hectare land in Barangay Binugao in Toril district.

“It is situated very near the incoming 300-MW coalfired power plant in Davao area, which is only about one kilometer away,” NGCP said in its application.

NGCP said the project is scheduled to be completed in 2015.

TSI is building a 300-MW coal-fired power plant on a site that straddles Davao City and the municipality of Sta. Cruz in Davao del Sur. The facility is scheduled to be operational by 2015.

NGCP said operation of the new plant requires appropriate transmission facilities to accommodate additiona l capacit y a nd transmit it to the Mindanao customers.

t he dol l a r a lt hou g h it recovered to the 42 level at the latter part of the week.

Monz ada ex pla i ned that impact of the dollar strengthening on fuel prices alone is about P0.80.

She said more volatility in oil prices is expected in the coming days given the tensions in the Middle East and developments in the US economy.

Monzada explained that oil-producing economies and international energy agencies have projected lower oil demand for this and next year but also reported better production volume.

“It’s the threat of supply distraction that is affecting oil price movements lately,” she said.

Since the start of the year, price of gasoline already went up by P7.40 but it also declined by P7.15 resulting in a net increase of P0.25.

For d ie s el, it s pr ic e has increased by a total of P5.18 since but it has also contracted by P6.05, bringing the net increase to P0.87.

Fuel prices have been increased by more than five times so far this year, but Monzada discounted any fuel subsidy from the government because of this.

“There’s no plan for a fuel subsidy right now because the government is not keen on giving out subsidy. Current oil prices are still lower than in previous peaks so at this from page 1 point we are not discussing expectation for the tapering what to do,” she added. (PNA) of the Federal Reser ve’s b ond buy i ng prog r a m, which is being used to boost from page 1 expansion of the world ’s Mr. Buenaventura said the extension offices will largest economy.

L a st week, t he peso a llow t he bank to ser ve declined to 43 level against sma l ler but prog ressive “The most awaited entry of the generation plant is a substantial milestone for the Mindanao grid, which will produce a large capacity addition of power supply to the whole island that is reliable and not dependent on vulnerable energy source.

Such bulk generation addition will address a huge... power deficiency being experienced by the island,” the petition read.

“In order for NGCP to ensure completion of the project in time for the test, commission and dispatch the capacity of the power pla nt, t he Honorable Commission must allow immediate implementation of the project,” NGCP added.

NGCP is the private firm that operates, maintains and develops the country’s tra nsmission net work after it acquired the 25year concession of National Transmission Corp. in 2009.

The firm is in charge of the transmission of highvoltage electricity through power superhighways that involve an interconnected system of t ra nsm ission lines, towers, substations, and related facilities.

TSI, on the other hand, is wholly owned unit of Aboitiz Power Corp., which is the power generation and distribution arm of t he Aboitiz Group.

Hike...

Mulls...

areas. “What is interesting about that is we are now able to put branches in small areas not big enough for a regular branch,” he said, adding that usually a branch must cover about 250,000 in population.

These extension offices, he said, is cheaper to put up -- an average of P3 million per unit -- while a regular branch costs the bank about P8 million including the prime lot. The extension of f ice idea c a me about six months after the bank started its first five microbranch offices which he said created “repetitional risks” because of limitations.

A micro-branch office ca nnot ser ve deposits larger than P15,000 and loa ns beyond P150,0 0 0, depositors ca nnot open check i ng accou nt s a nd cannot have their checks cleared. Mr. Buenaventura said that when the bank evaluated the operations of these micro-branches, it concluded they could have tainted the bank’s reputation because these offices cannot serve potential clients.

The option, he said, is for the bank to attach an extension office to a regular branch and thus remove the limitations of a microbranch. An example is when a borrower files for a loan with the extension office, the loans officer of the regular branch will be the one to process the loan. A regular branch usually has two loan officers.

On it s ex pa nsion i n Panay, Mr. Buenaventura said that since the bank entered Iloilo last year when it merged with the Rural Bank of San Enrique, it

will be able to put up more bra nches a nd ex tension offices in the island.

DoTC... from page 1

flights, respectively, to fund the operations of the new airport.

11

Prior to the approval, the CAAP conducted public hearings on the proposed fees on March 5 and 12 in Cagayan de Oro City.

The fees will take effect upon the opening of the a ir por t, which replaces Lumbia Airport, on June 15

BusinessDaily

12

CREDIBLE

RELIABLE

IN-DEPTH

tuesday - june 18, 2013

Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776