BusinessDaily Mindanao (April 16, 2013 Issue)

INSIDE LOOK

DOLE-10 tree planting program CAAP set expansion of GenSan airport

Japan aid sustains WFP operations

Telco store opened in Bora

Metrobank eyes for 15% loan growth

BusinessDaily Economy

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Corporate World

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Volume III, No. 192

Market Indicators

As of 5:57 pm apr. 15, 2013 (Monday)

FOREX

PHISIX

US$1 = P41.23

6,837.77 points

X Briefly 53.66 points

X

4 cents

Iligan diesel plant

ALSONS Consolidated Resources Inc (ACR) will begin operating the Iligan diesel plant this month to help shore up Mindanao’s power supply.

Tirso G. Santillan Jr., ACR executive vice president, told reporters that the power plant will operate at an initial 15-megawatts this month, before ramping up to its full 97-megawatt capacity in six months.

Santillan said the company will require P1.2 billion for the acquisition, operation and rehabilitation of the diesel plant.

In-demand job

Call center agents topped all other jobs in the top 20 job vacancies nationwide according to the Department of Labor and Employment or DOLE, with a registered 15,300 number of vacancies.

Admin. Officer V of DOLE region 10, Ms. Mildred E. Dablio, said that according to their list 15, 130 call center agents are in-demand in the country.

The top 10 most indemand jobs of demands in the Philippines are: call center agents, customer service assistants, domestic helpers, carpenters, drivers, sales clerks, production/factory workers, construction and maintenance laborers, salesman/lady, and real estate salesmen. eastine charles taneo

Green living

THE Department of Labor and Employment (DOLE)Region 10 recently organized a livelihood program for the river vendors of Brgy. Mambuaya, Cagayan de Oro City.

DOLE has at least 40 existing programs and one of these is a livelihood program for the victims of typhoon Sendong in Barangay Mambuaya.

DOLE gave out financial support to the river vendors of Mambuaya to sustain their livelihood projects, as well as add capital for their business.

roquesa mae a . bersabal

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April 16, 2013

P88/day wage hike sought

T

HE Trade Union Congress of the Philippines (TUCP) on Monday petitioned the Labor department and wage board in Northern Mindanao for a daily wage hike of P88 in the region.

TUCP Pa r t ylist Rep. Raymundo Mendoza, said that the daily wage increase asked by the labor sector was based on the actual studies that the current daily minimum wage of P286 is barely enough to sustain a living.

He said that the current P286 minimum wage is not a living wage as the worker’s quality of life substantially deteriorates.

TUCP executive director Eva Arcos said that statistically as of March 2013,

the current daily minimum wage has a buying capacity of only P200.84.

She added t hat a f ter deductions, a minimum wage earner’s daily take home is only P178.97.

In a four-page petition, Mendoza and Arcos said the bases for the wage hike petition were P19.98 from the actual increase in prices bet ween Ju ne 2011 a nd March 2013; P20.02 from projected seven-percent rise in community price increase; wage/PAGE 11

Aboitiz power-barge unit cuts down rates

A laborer working in a construction project in Cagayan de Oro City in this file photo.

The Trade Union Congress of the Philippines (TUCP) on Monday petitioned the Labor department and wage board in Northern Mindanao for a daily wage hike of P88 in the region. mindanews file photo

POWER OUTLOOK

By CHRISTINE CABIASA, Reporter

TH ER M A Ma r i ne, Inc. (TMI) lowered the rates of its power-barges operating in Mindanao due to a drop in world oil prices.

A subsidiary of A b oit i z Powe r, T he r m a Marine, in a statement, said its power rates as of March stood at P7.13 per

POLL WATCH

kilowatt-hour based on a 100-percent utilization. This was on the back of an average fuel purchase of P29.13 per liter on the same month.

The corresponding impact on rates in the region will depend on the volume of power contracted by electric barge/PAGE 11

ADVERTORIAL

Villar urges DFA to help Filipino voters abroad NACIONALISTA PartyTea m Pnoy senator ia l candidate Cynthia Villar urged Philippine embassy and consulate personnel a bro a d to e x t e nd a l l possible a ssist a nce to Overseas Filipino Workers (OFW) as they exercise their right of suffrage under the overseas absentee voting (OAV) starting on Saturday, April 13.

“We urge all officials and personnel in Philippine embassies and consulate offices abroad to go out of their way and extend all forms of assistance they villar/PAGE 11

Mindanao businessmen say change in dispatch protocol to end crisis

By GLORIA H. GREJALDE Philippine News Agency

M I N DA NAO - b a s e d businessmen ca lled for a n i mplementable a nd sustainable program that would provide the fastest available supply of power at a reasonable price to the people in the south which is being hounded by intermittent power supply.

Del Monte eyes P750-M investment in ARMM

By IRENE DOMINGO, Reporter

A SUBSIDIARY of Del Monte Fresh Produce, Inc. (DMFPI) is seriously t hink ing of increasing its investment in the Autonomous Region in Muslim Mindanao (ARMM) to as high as P750 million.

Delinanas Development

Senatorial candidate Mrs. Hanep Buhay Cynthia Villar, whose family’s Villar Foundation has been helping the overseas Filipino workers, has asked the Department of Foreign Affairs (DFA) to provide assistance to Filipinos abroad in exercising their right of suffrage under the overseas absentee voting.

The Mindanao leaders of the Philippine Chamber of Commerce and Industry’s (PCCI) met the PCCI national leadership to discuss t he possible strategies in response to the continuing rotating brownouts that have been outlook/PAGE 11

Corporation (DDC) has already invested some P569 million in the ARMM to develop 550 hectares of banana plantation. But it is planning to increase its investment to further its delmonte/PAGE 11

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

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CAAP set expansion of GenSan airport GENERAL Santos City -- The Civil Aviation Authority of the Philippines (CAAP) has allocated an additional P42.2 million for the continuing expansion and development of the city airport.

Engr. Rau l Glorioso, acting department manager of CAAP here, said such appropriation was set aside for the establishment of the airport complex’s runway end safety area (RESA) and the expansion of its main terminal building.

He said the RESA, which is intended to reduce the risk of damage to airplanes in the event of an undershot, overshot, or excursion from the runway, was estimated to cost P17.28 million.

The remaining P25 million was allocated for the airport terminal building’s continuing expansion and rehabilitation, he said.

Glorioso said they are also set to conduct the bidding for the upgrading of the airport’s fire-fighting facilities, which their office had earlier set as a priority.

He sa id t he ot her planned developments are the placement of asphalt overlay at the runway and the installation of additional baggage carousel at the airport’s arrival area, which will be funded by CAAP’s corporate funds.

The city airport, which

ARMM OIC Governor Mujiv Hataman (right, main photo) meets partners from the different UN Agencies (inset photo) working in the region on Tuesday at the Office of the Regional Governor. Hataman presented his reform agenda to the UN officials who in turn presented the status of their programs and projects implemented in the region.

is classified by CAAP as an alternate international airport, mainly serves the “greater area” of Region 12 that covers this city and nearby provinces of South Cotabato, Sultan Kudarat and Sarangani.

Leading domestic carrier C ebu Paci f ic present ly maintains three regular passenger and cargo flights daily from this city to Manila, another daily flight to Cebu and three flights every week to Iloilo.

Cebu Pacific recently announced the opening of another f light to this city from nearby Davao City.

Philippine Airlines (PAL) has two regular flights from this city to Manila every

Monday, Wednesday and Friday and one flight for the other days.

PAL Express serves daily regular flights to Cebu and three flights every week to Iloilo.

In its Regional D e ve lopment Pl a n for 2011-2016, the Regional Development Council-12 stressed the need for the immediate upgrading and improvement of the city airport.

“Despite being categorized as an international airport, the General Santos Airport still lacks facilities to make it at par with international standards,” it said.

The council specifically cited that passengers presently

have to deal with a lot of inconvenience in boarding and disembarking the airplane and walk some length under the heat of the sun.

It said that even the trolleys which are supposed to be a necessity for moving luggage are used by passengers for a fee.

“The airport needs a jet bridge, an enclosed, movable connector which extends from the airport terminal gate to the airplane that will allow passengers to board and disembark without having to go outside,” the RDC-12 said.

“Trolleys and other airport facilities should be made available for free considering that passengers already pay terminal fees,” it said. (PNA)

Hataman: ARMM reform agenda start to bear fruit

By APIPA P. BAGUMBARAN, Contributor

M A R AW I Cit y -- T he bureaucratic reforms introduced in the Autonomous Reg ion i n Muslim Mindanao (ARMM) y ie ld e d u npre c e d ent e d savings and have put a stop on influence peddling and other anomalous practices that have come to define ARMM. This was emphasized

by ARMM Governor Mujiv Hataman in his presentation during the visit of President Benigno S. Aqino III to Cotabato City, Friday.

The President made his first ever visit to the seat of the ARMM government to

check on the reforms being instituted by his appointed caretakers in the 23-year old regional institution.

He listened to a 15-minute presentation that highlighted the remarkable performance of the region’s caretaker administration in its 15 months in office.

During his visit, Hataman prov ided a r undow n of ongoing projects and the overall status of reforming the institution that has been previously dubbed as a “failed experiment” by President Aquino.

The regional caretaker reform/PAGE 10

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Gaisano plans to open 8 more stores this year GAISANO-led retailer Vicsal Development Corp. plans to open eight more Metro d e p a r t ment s tore s w it h supermarkets this year, the company said in a statement over the weekend.

Vicsal will start work on its first store in Samar tomorrow, the Cebu-based retailer said.

Metro Store Calbayog, to be located a long Magsaysay Boulevard in Calbayog City, is scheduled to open in the last quarter of this year. It will have 11,380 square meters (sq. m.) of store space and 1,000 sq. m. of parking space on a 9,720-sq.-m. lot.

“This marks the continued penetration into the Visayas, and the first on Samar Island, by the Metro Retail Group,” the company said in its statement.

Vicsal currently operates a chain of 23 department stores with supermarkets: 13 in Cebu province, two in Leyte (Maasin and Tacloban cities), five in Metro Manila, and three in Legaspi, Lucena and Angeles cities.

Considered one of the most successful among the Gaisano businesses in Cebu, Vicsal has diversified operations to also engage in stock brokerage, banking and financial services and property development.

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Telco concept store opened in Boracay BORACAY has opened its doors to the first telco concept store in the island that will service both local residents and tourists visiting the country’s premiere tourist destination.

The Globe Store opened in time for the island’s peak season where both local and foreign tourists f lock to Boracay, considered as one of the world’s top beach destinations attracting over 1 million visitors a year.

“A f ter streng t hening ou r n e t wor k c ove r a ge resulting in superfast surfing, crystal-clear voice calls and real-time text messaging, our subscribers can now experience a world-class shopping experience backed up w it h great customer

ser v ice a nd a f ter-s a les support with the new Globe Store in Boracay,” said Globe Stores Transformation Head Maridol Ylanan, “By bringing the digital lifestyle closer to the residents and tourists of Boracay, we hope that our customers would find the products and services they need all within the convenience of a one-stop shop.”

The Globe Store located at D’Mall in Station 2 in Boracay showcases the unique store concept of Globe. Inside the

store, customers can try and explore live demo units. Aside from shopping for postpaid plan or prepaid kit bundled with the latest cellphone and gadget, customers can also shop for the latest accessories that go best with the devices.

Customers can also do various transactions in the store such as account opening, account management, pay ments, load top ups, and GCASH transactions.

The Globe Store’s design l ay o u t c o mp l e m e nt i n g t he tropica l island v ibe of Boracay was done by J. Antonio Mendoza Design Consultants. The distinctive tropical appeal is further telco/PAGE 10

Aboitiz hydro power plant gets perks THE BOARD of Investments (BoI) has approved i ncent ives soug ht by Aboitiz Power Corp. unit Hedcor Sibulan, Inc. for a hydro power pla nt in Mindanao, the agency said in a statement on Friday.

Hedcor’s 6.6-megawatt (MW) Tu d a y a 1 hydroelectric power plant in the municipality of Sta. Cruz in Davao del Sur will

enjoy income tax holidays for seven years and duty free importation of equipment.

T h e P 1 .16 5 - b i l l i o n project is expected to start commercial operations by 2014.

The plant, which will employ 23 personnel, will tap water from the Sibulan and Baroring rivers.

Power gener at e d by Tudaya 1 will be sold to

Davao Light and Power Co., Inc. Renewable energ y is part of the government’s Investment Priorities Plan.

Tudaya 1 is the second facility of Hedcor after the 42.5-MW Sibulan hydro power plant.

The firm said on April 25, 2011 that it would build a second 7-MW unit of the Tudaya project.

Anchor Land ups capital expenditure to P5B Ayala, Trans-Asia expand ANCHOR Land Holdings Inc ra ised its capita l expenditure budget for 2013 as it launches six residential and commercial projects after earnings breached the P1-billion mark for the first time.

In a disclosure to the Philippine Stock Exchange, the property developer said its net income hit P1.03 billion in 2012, 22 percent higher t ha n t he P841.7 million in the previous year.

Real estate sales from

ongoing operations lifted revenues by 37 percent to a record P4.14 billion from P3.02 billion the year before.

Rental income also tripled year-on-year to P171.47 million from P43.55 million in 2011, buoyed by the full operations of two commercial projects in Pasay City as well as other commercial units t hat t he company has retained from other residential developments.

“This significant (net income) milestone, coming

as it does on only our sixth year since going public, is a testament to the incredible path that Anchor Land has blazed in the local real estate industry that, in the process, ha s brou g ht enor mou s returns to our shareholders year after year,” said Anchor Land chairman Stephen Lee. The real estate firm joined the bourse in 2007.

For 2013, Anchor Land earmarked P5 billion in capital expenditures, an 11 percent improvement from

the P4.5 billion announced last year, to develop mostly follow-up projects of existing developments especially in areas where demand for its projects remains strong.

Anchor Land is building the P11-billion Monarch Pa rk su ites , a sequel to SoleMare Parksuites.

Located on a nearly twohectare property between the SM Mall of Asia and the Pagcor Entertainment City, it consists of four residential capital/PAGE 10

Calaca power project

AYALA Cor p (AC) a nd Trans-Asia Oil and Energy De velopment C or p a re investing more in their joint venture power project in Batangas.

In a disclosure to the Philippine Stock Exchange (PSE) on Monday, AC said wholly owned subsidiary AC Energy Holdings Inc (ACE H I) w i l l p ou r a n additional P1.5 billion in South Luzon Thermal Energy Corp (SLTEC) to fund the expansion of its Ca laca thermal power plant.

Ay a l a C o r p s a i d construction of the second 135-megawatt (MW) coalfired f luidized bed (CFB) next to first unit, which is under construction, will start

by the second half of the year. Operations of SLTEC unit 2 would begin by 2016.

Separately, Trans-Asia told the bourse that it will use P145 million of the P1.25-billion the company raised from its stock rights offering last year as initial investment in the second unit of SLTEC. DMCI unit contract SLETC today signed up D.M. Consunji Inc for an engineering procurement contract.

In a separate disclosure, DMCI Holdings Inc said its subsidiary and China National Technical Import a nd E x p or t C or p w i l l construct SLTEC 2 under a turnkey basis.

San Miguel unit bags NAIA Expressway project SAN MIGUEL CORP.-led Opt i ma l Inf rast r uc t u re Development, Inc. has won a P15.86-billion project to construct Ninoy Aquino Inter nat iona l A i r por t Expressway, the third public private partnership deal that was auctioned off by the Aqunio government.

San Miguel offered a P11billion up front payment to the government against the P305-million offer of Manila North Tollways Corp. “ We w o u l d l i k e t o congratu late Optima l Infrastructure for submitting

a ver y good bid for the government,” Public Works Secretary Rogelio L. Singson told reporters.

The NAIA Expressway project involves t he construction of a 7.75 -k i lometer elevated road that will connect the airport in Pasay City to the Bagong Nayong Pilipino E nter t a i n ment Cit y i n Parañaque City.

The project is accompanied by a P6.5-billion subsidy from the four investors of the Bagong Nayong Pilipino project/PAGE 10

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Japan aid sustains WFP Typhoon Pablo operations DAVAO CITY – As the Philippine Government scales up its early recover y efforts for communities affected by Typhoon Pablo (international name “Bopha”), support from the Government of Japan – through the United Nations World Food Programme (WFP) – will help sustain the Philippine Government’s ongoing Typhoon Pablo operations.

The Japanese Government, which has allocated PhP81 million (US$2 million) for the Typhoon Pablo response, has enabled WFP to purchase 2,982,000 kilograms (2,982 metric tons) of rice, enough to feed 250,000 people for two months.

The donation was formally handed over recently by t he Embassy of Japa n’s Head of Davao Consular Office Koichi Ibara, in the Municipality of Monkayo in Compostela Valley province.

Receiv ing t he donat ion were Compostela Valley Governor Arturo Uy and Department of Social Welfare and Development (DSWD) Provincial Director Josephine Frasco. Also present were Koki Ando, chairman of the Japan Association for WFP; Dipayan Bhattachar y ya, WFP Philippines officer-

in-charge; and Masanobu Horie, WFP Philippines head of programme in Mindanao.

“Initially, in response to the efforts to assist victims affected by the Typhoon Pablo disaster last December, the Government of Japan provided emergency assistance amounting to 45 million Japanese yen (a p pr ox i m a t e l y Ph P 2 2 million) in t he form of relief items coursed through t he Japan Internationa l Cooperation Agency (JICA).

In addition, the emergency grant aid of US$4.2 million to the Philippines was in response to the Typhoon Bopha /Pablo ResponseAction Plan for Recovery carried out by the United Nations and the Government of the Philippines through the WFP, the International Federation of Red Cross

and Red Crescent Societies (IFRC), a nd t he United Nations Children’s Fund (UNICEF). Japan has placed emphasis on the recovery of this area from the disaster, a n d h a s c o nt i n u o u s l y monitored ef f icient and effective implementation of the action plan,” according to the Embassy of Japan.

This food assista nce has boosted support for the DSWD’s Typhoon Pablo efforts, particularly general food distribution in the provinces of Compostela Va l ley, Davao Orienta l, Agusan del Sur, Surigao del Sur, and Lanao del Sur. As part of a general food distribution, t he rice is re-bagged into the DSWD Family Relief Packs, along with other food items.

The rice is also used to support early recovery activities such as vegetable product ion a nd ba na na rehabilitation, which aim to help communities re-establish t heir livelihoods. These initiatives, particularly in the provinces of Compostela Valley and Davao Oriental, are supported by the DSWD and WFP’s food-for-work

Embassy of Japan’s Head of Davao Consular Office Mr. Koichi Ibara (third from left) hands over part of the Government of Japan’s donation to the Government of the Philippines’ Typhoon Bopha (Pablo) operations. With him during the handover were (from left): Koki Ando, chairman of the Japan Association for WFP; Compostela Valley Governor Arturo Uy; WFP Philippines Officer-in-Charge Dipayan Bhattacharyya; and beneficiaries of the rice donation in Compostela Valley.

photo courtesy of wfp philippines/philipp herzog

programme, which are set to expand to large-scale implementation after April.

“WFP is grateful to the Government of Japan for its timely and generous support to the Government of the Philippines, through WFP, in this enormous task of helping families and communities severely af fected by Typhoon Bopha,” said WFP Philippines Deputy Country Director Asaka Nyangara.

“Aside from assisting WFP

in our regular programmes in Central Mindanao, Japan has always been ready to support WFP during major disasters,” he added.

T he G over n ment of Japan was one of the first to respond to the UN appeal for donations for Typhoon Pablo in December 2012.

Japan also provided support to Tropical Storm Sendong (international name Washi) operat ions in Nor t hern Mindanao in December

2011.

Aside from its assistance during Typhoon Pablo and Tropical Storm Sendong, Japan has also been one of WFP’s key development partners in the Philippines si nce 20 09, suppor t i ng programmes in conf lictaffected areas of Central Mindanao. Globally, Japan is also among the top five donors to WFP’s efforts to fight hunger worldwide.

(WFP)

Mindanao sugar centrals can be tapped to address power deficit: Business leader MALAYBALAY CITY -- At least, four sugar centrals in Mindanao, including two in Bukidnon, can supply up to 90 megawatts of power to t he Mindanao grid, Roderico Bioco, president of the Bukidnon Kaamulan Chamber of Commerce and Industry Inc., said.

He identified the sugar centrals as Busco Sugar M i l l i ng C o., I nc . a nd Cr ysta l Suga r M i l l i ng C o. I nc . i n Bu k id non a nd t he Dav ao Su ga r Centra l Company, Inc. and Cotabato Sugar Central Co., Inc. But t he a d d it ion a l source is untapped because the government, he said, is “not creative enough” to encourage more producers of renewable energy.

“It’s power that’s already available and renewable because it is from the sugar central’s biomass power generation,” said Bioco. He described the sugar centrals as power co-generators Busco Sugar Milling Co, Inc; Cr ysta l Sugar Milling Co. Inc; Davao Sugar Central Company, Inc; and Cotabato Sugar Central Co., Inc. Bioco added that power from the sugar centrals is base load energy.

Bioco sa id t he lack of stable power supply a d ve r s e l y a f fe c t s t h e e conomy a s i nve s tors forego projects because of power interruptions.

Bioco explained that based on computations from consultations with the sugar industry players, they are willing to supply power to the grid if the Energy Regulatory Commission approves a higher rate from the current P6.63 per kilowatt hour. “(The sugar centrals) should have a capacity to produce power at a rate much lower than diesel,” he added. The Bukidnon Second Electric Cooperative (Buseco) through a fivemegawatt power supply agreement buys power from the Aboitiz-owned Therma Marine Inc, which operates two power barges.

Then Buseco general manager Edgardo Masongsong told M i nd a News i n Ma rch last year that they bought from TMI at P13.90 per kilowatt-hour, which is almost double its current rate of P7.3533 per KWH. Bioco sa id t he four plants produce power for their own needs and can actually produce more and connect to the grid but don’t because there are not enough incentives.

He not e d t h at t he prevailing rate approved by the ERC for one sugar c e nt r a l s up pl y i n g a n electric cooperative “is too low to invite their full participation” from other sugar centrals.

“We are calling on the

DOE to compel the ERC to liberalize the rates,” he added.

Bioco said he hopes government will consider the mater because additional capacity from biomass is still cheaper than diesel.

“Why go for diesel when we have biomass,” he asked.

Bioco said only two of the 28 sugar mills in the country are connected to the grid.

The sugar mills are willing to participate only during milling season. But on off-milling season, he said, they would rather shut down due to lack of incentives.

Milling season for sugar spans about seven months from November to May. Romeo Montenegro, investment promotions and public affairs director of the Mindanao Development Authority (MinDA) welcomed the call of the chamber to increase rates for biomass energy capacity.

“It will encourage more participation (to the grid), especially that it’s already an existing asset,” he added.

He vowed to endorse it to the DOE’s Renewable Energ y Ma nagement Bureau. He said they are interested in additional capacity from renewable energy sources as it would help cut the power deficit.

(MindaNews)

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Metrobank eyes 15% loan growth for ‘13 METROPOLITAN Bank & Trust Company (Metrobank) is targeting a 15 percent expansion for its loans this year given the robust growth of the domestic economy.

Met roba n k st rateg ic pla nning d iv ision head Jette Gamboa, in a briefing Monday, explained t hat they usually pegged their loan growth forecast to the expansion of the domestic economy with the expansion of loans twice as that of the domestic economy.

“We are looking for the economy to grow at si x percent this year and loan growth is at 15 percent,” she said.

Also, Metrobank Research Department head

Marc Bautista said it is “too early” to give indications for the loan growth in the first three months of the year while actual results will be announced in May. “So far consumption has been holding so therefore that bodes well to consumer por tfolio. Interest rates rema i n low, t hus, it is conducive to borrowing,” he said.

And with the Philippines now an investment grade economy, Baut ista sa id this will result to “positive

investors’ sentiment” and a “relative good outlook for the economy.”

S i m i l a r l y, B a u t i s t a expects the Bangko Sentral ng Pilipinas (BSP) to further cut the interest rate of the special deposit account (SDA) to two percent.

Central bank’s policymaking Monetary Board (MB) has cut the interest rate of the SDA facility by a total of 100-120 basis points in two consecutive policy meetings last January and March as it fine-tunes the BSP’s policy toolkit.

To date, SDA rate is at a unitary 2.5 percent for the one-week, two-week and metrobank/PAGE 10

BDO to redeem P10-B Tier 2 notes SY-LED BDO Uniba n k, Inc. (BDO), the country’s largest in asset terms, will retire P10 billion worth of unsecured subordinated notes qualifying as Tier 2 capital next month as the debt papers no longer qualify as capital under the higher standards of Basel 3.

In a disclosure to the stock exchange yesterday, BDO said, “Upon prior approval of the Bangko Sentral ng Pilipinas (BSP), BDO will on May 31 exercise its option to redeem its P10-billion

unsecured subordinated notes eligible as Tier 2 capital due 2018, callable with stepup in 2013.”

The notes, which carried an 8.5% coupon rate, were issued on May 30, 2008.

BDO President Nestor V. Tan, in a text message yesterday, said: “Under the new rules [of the central bank], our current Tier 2 notes will no longer be counted as capital, [when Basel 3 is in place].”

Under Basel 3, which will kick in by Jan. 1, 2014,

universal and commercial banks must have a capital adequacy ratio of at least 10%.

Tier 1 c apit a l mu s t make up at least 7.5% and a common equity Tier 1 capital of 6%.

Tier 2 capital, meanwhile, can account for the balance.

Once Basel 3 is implemented, only capital that can absorb losses, at all times, may qualify as regulatory capital.

Thus, capital instruments BDO/PAGE 10

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COMMENTARY OMG, the elections!

Barely a month left in the campaign season and the Comelec is swarmed with violation reports left right and center but to no avail of course. And typically the one popular violation most incumbents (of all candidates) violate is the size of posters allowed.

It seems candidates are enamored to print posters outside the authorized size other than to plaster them everywhere literally and in multiples as if the readers (meaning the potential voters) require more than one poster to read should the candidate ask for their vote.

Then, of course, there is the annoying distorted and blaring sounds amplified in mobile carriers with its redundancy making it annoying for the pedestrian on the street to complain about.

I guess these candidates must feel it takes more than one poster in any singular site for the pedestrian to read his or her poster and multiple replays for the sounds he requires.

Are the voters so stupid they require all this campaign material? Interestingly enough many a poster does not even promote what exactly the candidate wishes to do in office asking for a mandate.

Many posters have the face of the candidate, the position requested and no more. I even found one poster plastered with no particular district the candidate is running for.

Then, of course, lest we not mention candidates who walk around greeting his constituents with handkerchief to cover his/her mouth and the proverbial alcogel if not the stringent alcohol to wipe their hands after shaking hands with the people.

As for the moneyed candidates who can afford the logistics for a stage and a rally organized to hear out them out there is the entertainment that precedes the presentation of the candidate to interest listeners for the candidate’s speech.

We have read of some in broadsheets some who have been cited by the Comelec for using sex as the attraction (by sex we mean, sexy girls gyrating to attract the male pedestrians).

With the restriction to provide food and drinks for those who are made to listen to the long winded speeches and that say nothing but to “vote for me” this becomes an advantage vis-à-vis the candidates on a budget.

Commentary/PAGE 7

(Part 1)

I

nvesting money is not one-size-fits-all. Each person is unique – with one’s own investment knowledge profile, attitude to risk tolerance, and individual predisposition to a whole gamut of investment instruments available in the marketplace.

When choosing which investment vehicles to use for your own purpose, it helps to remember the positioning of different investment tools in the investment pyramid. It also serves you well to check out the risk, return and liquidity considerations of the tools you’d like to use before diving in.

For almost all investors, liquidity is quite an important issue. As the cliché goes, “Cash is king!” For who would like to be caught unawares with a pocket empty of cash when an immediate expense need arises? What if a great opportunity difficult to let go suddenly arrives and having cold cash spells the difference between being able to partake of it or not?

As discussed in a previous article in this column, the financial pyramid greatly enhances your power of choice with regards to which particular investment is suitable for the goal you specifically want to achieve. And if you intend to have the option of being liquid while harnessing a balanced risk and return profile, no other investment tool comes close to managed investment funds.

Managed funds come with a wide spectrum of flavors to suit your risk and return palate. Very conservative funds may have the policy of investing only with low-risk money market instruments such as special savings accounts. This is ideal for those who would like some level of definite earnings for a short time frame.

Bond fund managers may trade using moderately

A Minute

THE

Financial D octor

By Adonis Agcopra conser vative instruments such as government securities (T-bills, T-notes, T-bonds).

This answers the investment needs of individuals wanting their money to earn but would like risk stability as well.

Some aggressive individual or institutional investors may want to maximize their money’s potential for higher returns over the long term. This can be realized through high quality equity security investments with diversified blue chip stocks such as that traded by more volatile equity funds.

Quite a number of specific fund types have their own unique blend of investment criteria and targets. Global funds may invest in any country worldwide. Some funds concentrate on certain economic segments. Sector funds trade using stocks of specific economic sectors such as health, technology, or the financial industry. Part 2 will discuss a more in-depth view of managed fund investing in the Philippine perspective.

Whichever investment risk profile your own personality may fall, do remember that time is of the essence. Wayne Gretzky, the great hockey player, once said: “Procrastination is one of the most common and deadliest of diseases and its toll on success and happiness is heavy.” Act now!

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

Email: aficfinancialconsultants@outlook.com.)

BSP’s ‘special banking laws annoted’ Economic and financial education has always been an important component of the Bangko Sentral’s goal of developing an inclusive financial system that can ultimately empower the various segments of our society.

In line with this advocacy, the Bangko Sentral ng Pilipinas (BSP) just recently published the “Special Banking Laws Annotated” to educate and enlighten academicians, bankers, and the public on the provisions of various special banking laws.

This book, researched and written by an illustrious group of more than 30 lawyers of the BSP’s Office of the General Counsel and Legal Services or OGCLS, is the latest addition to the series on the country’s banking laws.

OGCLS is headed by Deputy Governor Juan de Zuniga Jr. The first book entitled, “The New Central Bank Act Annotated,” was launched in July, 2010, while the second book, “The General Banking Law Annotated,” was launched in August, 2011.

The “Special Banking Laws Annotated,” or the socalled Book III, provides authoritative vantage points and commentaries on special banking laws such as the Thrift Banks Act, Rural Banks Act, Special Provisions on Cooperative Banks from the Cooperative Code, Non-Stock Savings and Loan Associations Act, Philippine Deposit Insurance Corporation Charter, Secrecy of Bank Deposits Law, Foreign Currency Deposits Act, Truth in Lending Act, Usury Law, and Unclaimed Balances Law. In the book’s foreword, retired Chief Justice Reynato S. Puno said he was not aware of any central bank authority in

THINK

who lies here drunk.” But her

By Jhan Tiafau Hurst husband suddenly interrupted her and said: “Don’t tell Him I’m DRUNK! Just say that I’m…SICK!” In our own heart and conscience we all know that we’ve done things wrong and failed to live the way we know we should. We’ve not always lived in a close, right relationship with our Maker, and many of us won’t admit that we’re wrong and have failed. Neither will we admit that we can’t fix our life and make it right by ourselves. But until we finally face the facts that we’re not completely happy and at peace, our life won’t change. Yet today, if you’ll sincerely ask Jesus to forgive you for all your wrongs and living your way; then ask Him to take full control of your life every day, you’ll finally have peace with your Maker and the satisfying life you should be enjoying. So why not finally get hold of happiness that lasts? You’ve got nothing to lose and everything to gain.

Just Think a Minute…

Investing with managed funds

Legal Counsel

Website: www.businessweekmindanao.com E-mail : businessdailymindanao@gmail.com

Get hold of happiness

ave you heard of the new emotional sickness called Sudden Wealth Syndrome? It happens to people who suddenly become rich by winning a big lottery jackpot, inheriting a lot of money, or other quick ways. But then what these newly rich people often find out is that it doesn’t end up being the happy dream they expected. They soon discover what many other rich people already know: money can’t buy happiness that lasts.

But that’s just our problem: we think that happiness is something out there that we have to find and get, like money, a position of respect and power, or physical pleasure and fun experiences. We think we’ll finally be happy after we get out of school or when we get married. But then even when we do finally get it, we find out it doesn’t last and make us happy for the rest of our lives like we expected.

So how do we get hold of happiness that lasts for a lifetime?

Well, the first big step is we must admit that we’re not totally happy and we need help. But that’s hard for us strong, independent human beings to do! We’re like the man who came home drunk one night. As his wife helped him into bed she asked him if he wanted her to pray for him. He nodded yes. So she began: “Dear Lord, I pray for my husband

ATTY. MARIO T. JUNI

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SPEAKING

O ut

By Ignacio Bunye

the world that has undertaken the intellectual endeavor of coming out with the “Special Banking Laws Annotated.”

“But more t ha n pat hbreaking, its impact in our expanding economy will be immeasurable,” Puno pointed out.

For one, the retired chief justice said, the book gives the public easy access to the country’s scattered laws on banking — available only to those with special interest on the subject.

“This lack of access by the people is crucial for it drives away many of them from patronizing the services of banks which are the primary engines of our economic growth,” Puno said.

He added, “The annotations are reader-friendly and guaranteed to remove the scales of ignorance from the eyes of the unknowing.”

BSP Governor Amando M. Tetangco, Jr. shared that the book’s discussions promoted understanding not only of the laws that govern particular banking institutions and consumer rights, but also of their policy implications and operational context.

“To us, the completion of our three legal books constitutes a major step forward in our continuing program to promote understanding of banking laws and regulations Bunye/PAGE 7

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D A E R

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Commentary... Bunye... from page 6

Depending on which side of the fence you sit as a candidate you either rejoice or shake your head in disbelief. There is also the occasional candidate that walks around not only with bodyguard in tow (and for what, to protect from people he/ she is asking a vote for) and worst of all an umbrella propped up above his head so the candidate is not inconvenienced with the glaring sun.

The things one notices on the campaign trail is surreal is at times a cause for vomit but the masa gobble it all up. It is obvious the masa requires multiple posters side by side as presented by candidates for both local and national. OMG, the elections!

Harry Tambuatco

Barangay Carmen residents shouted “idol!” when they met Cagayan de Oro City 1st District Rep. Benjo A. Benaldo yesterday during a campaign visit. Women have been one of the sectors given livelihood projects by the congressman who is seeking another term come May 2013 mid-term elections. photo by gerry lee gorit

70 families rendered homeless by dawn fire

By GERRY LEE GORIT

CAGAYAN DE ORO CITY - Seventy families in barangay Kausgawan are now homeless after a fire razed their houses Saturday morning.

The 44 homeowners and 26 renters at Zone 5 in Scions had been living in the area for 20 years before the incident caused by a lighted candle that was left unattended.

Firefighters estimated the damage cost at P450,000 as the houses were constructed of only light materials.

All houses were razed beyond cont rol by t he firefighters because these were closely built to one another.

Cagayan de Oro City 1st District Rep. Benjo A. Benaldo has mobilized his relief team to give to the fire victims kitchen utensils, food and water.

Kauswagan is one of the

24 barangays in the first congressional district of the city.

Benaldo and Cagayan de Oro City Vicente Y. Emano are now working on the relocation of the fire victims to one of the housing projects built for t he Ty phoon S endong victims.

Ac c o r d i n g t o C i t y Councilor Nadya EmanoElipe, chair of the city council committee on social welfare and development, the fire victims will also receive cash assistance from the city government.

She sa id t he cash a mou nts w i l l d i f fer from one family to the other depending on their circumstances.

from page 6

among banks, government institutions, business, legal practitioners and the academe, but also among bank customers and the public in general,” Tetangco said.

With this week’s launch

of “Special Banking Laws Annotated,” I am one with the BSP officials and the book’s editorial board in hoping that this legal book project will promote better comprehension of, a nd hopef u l ly bet ter compliance with, banking laws and regulations among all sectors of our society.

7

Just like the raison d’être in the publication of my book, “Central Banking for Every Juan and Maria,” I believe that proper knowledge and understanding of our banking laws play an indispensable role in building a strong and vibrant Philippine economy which will provide a better life for all Filipinos.

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“We Grow Minds”

DILG 10 reaches out to stakeholders on BUB

By CHENG ORDONEZ, NewsCon Director

THE Department of the Interior and Local Government (DILG) has gone full blast in the implementation of Bottom-Up Budgeting (BUB) program of the government by conducting orientations to 10 members for every civil society organizations (CSOs) in the municipalities in the entire Northern Mindanao.

As a result, projects worth P708 million have been lined up for implementation this year and P1.1 billion worth of projects have been approved for 2014 for Region 10 under the BUB program, which the DILG chairs.

Of the P708 million, P64 million will come from the DILG while P205 million of the P1.1 billion will be shouldered by the DILG next year.

This was revealed by Lawyer Rene Burdeos, regional director of the DILG 10, who was the main guest of the BusinessWeek Mindanao NEWSCON, yesterday, April 12, 2013, , at the BWM Media Center.

Atty. Burdeos said that he himself attended, along

with the technical field personnel of the DILG 10, the orientation-workshops on BUB and planning process in the different municipalities in the region, and have been disseminating the information from the local government units down to the grassroots level through the CSOs. Director Burdeos said the budget for BUB projects vary -- P15 million for municipalities, P25 million for small cities, and P50 million for big or highly-urbanized cities.

Atty. Burdeos said that for a town or city to qualify, it must have the “Seal of Good Housekeeping.”

For this year, majority of the projects to be undertaken under the BUB

ATTY. RENE BURDEOS

are those under the Sagana at Ligtas na Tubig Para Sa Lahat project for waterless barangays also known as SALIN TUBIG project, he said.

Atty. Buredeos said he will try to negotiate solar

energy projects for consideration in next year’s BUB. BUB is also considered as an approach that will be used by concerned agencies for implementation of FY 2014 budget preparation, taking into consid-

eration the development needs of poor cities and municipalities as identified in their respective local poverty reduction action plans.

The program is in line with President Benigno Aquino’s “Social Contract with the Filipino People,” calling for transparent, accountable and participatory governance, among others, and was created under Executive Order No. 43, series of 2011 by the Human Development and Poverty Reduction Cluster (HDPRC), the Good Governance and Anti-Corruption Cluster (GGAC) and the Economic Development Cluster, together with the DILG, Department of Budget and Management (DBM), Department of Social Welfare and Development (DSWD)

and the National Anti-Poverty Commission (NAPC).

The DILG has been given the responsibility to implement the BUB Program, being the chair of the Regional Poverty Reduction Action Team (RPRAT).

Thus, there is a need to mobilize its field officers in order for the Department to successfully implement the BUB process and to effectively monitor the implementation of the BUB projects.

Working together with DILG are the other members of the RPRAT: DBM as vice-chair, DSWD, Department of Agriculture (DA), Department of Agrarian Reform (DAR), Department of Environment and Natural Resources (DENR), Department of Health (DOH), Department of Education (DepEd), Department of Labor and Employment (DOLE), Department of Energy (DOE), Department of Trade and Industry (DTI), Department of Tourism (DOT), National Electrification Administration (NEA) and Technical Education and Skills Development Authority (TESDA).

Major sponsors of the program are the Department of Tourism 10, Veterans Bank and Del Monte Foods.

NEWSCON is also being supported by the Sudaria Group of Publications, the Philippine Information Agency 10, Parasat and several tri-media outfits that regularly cover the weekly media event.

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Reform... from page 2

cited the savings generated by t he D e p a r t me nt of Public Works and Highways (DPWH) in the region from it s 2012 budget , wh ich amounts to P136.362 million, through fiscal prudence and the enforcement of open and competitive biddings.

The savings were not pocketed, Hataman said, but used by the agency to procure 13 heavy equipment and 15 motor vehicles and nine survey instruments.

DPWH-ARMM Secretary Emi l Sada in sa id t he acquisition was first of its kind in 22 years.

“Wa la ng pa la kasa n, wala ng lagayan (No more influence peddling, no more bribery),” he said.

Hataman said the regional government no longer allows the hiring and promotion of employees based on influence or reasons that do not warrant their qualification.

A special screening board has been set up to oversee hiring and promotion in the regional government, he said.

Hataman further said the reforms they started are primarily meant to curb corruptions in the region, but, apparently, they have also caused the optimization of government funds.

“The president supported the deferment of the scheduled ARMM elections in 2011 to

make way for needed reforms in the ARMM. Now, key improvements are starting to take hold a year and three months after his appointed officials took on the regional leadership,” a civil society organization (CSO) worker observed.

Telco... from page 3

enhanced with unique accent chairs made by Kenneth Cobonpue.

The Boracay store personnel on t he ot her hand, will soon don uniform designed by Charina Sarte, one of the country’s famous designers.

Globe currently has 172 stores providing superior customer experience nationwide. Globe is poised to open more concept stores in strategic locations all over the country.

Capital... from page 3

towers, two of which offer larger and multiple bedroom units.

The property developer is also strengthening its presence in Chinatown where it has established a solid niche and loyal customer base among affluent FilipinoChinese businessmen.

In Chinatown, Anchor Land’s project line-up include the Oxford Parksuites, a learning-centered project like Wharton Parksuites since both condominiums

are located in the vicinity of Chinese learning institutions in the district.

Another new residential project in Binondo is the Princeview Parksuites along Quintin Paredes Street that will offer practical unit sizes and cater to young families as well as businessmen who want to live near where their businesses are.

Anchor Land will also embark on a commercial venture in Binondo called the One Soler which will offer warehousing facilities to Chinatown traders.

The real estate firm is also constructing a luxury residentia l development along Roxas Boulevard as a follow-up to the Admiral Baysuites in the same vicinity, and another warehousing facility in Baclaran called One Logistics Center.

Project... from page 3

Entertainment City, PPP Center Executive Director Cossette V. Canilao told reporters on the sidelines of the bidding.

Under the bidding rules, the bidder who asks for lesser subsidy or the one who offers higher upfront cash to the government gets the project, she added.

The NAIA Expressway cou ld be t he project the third PPP deal to be awarded by t he Aquino a d m i n i s t r at ion , w ho s e

centerpiece infrastructure program has been hit by delays -- blamed on the need for extensive reviews -- since its launch in late 2010.

T he P1.96 -bi l l ion Daang Hari-South Luzon Expressway Link -- bagged

by Ayala Corp. in 2011 -- and the P16.42-billion PPP School Infrastructure Project Phase One -- awarded to the Citicore Holdings Investment, Inc.Megaw ide Construction Corp., Inc. and BF Corp.Riverbanks Development Corp. consortiums last year -are so far the only PPP deals that have been contracted.

BDO... from page 5

that are not eligible for Basel 3 will be “derecognized” by the BSP in the computation of regulatory capital.

C apit a l i n s t r u ment s identified by the central bank with no loss absorbency features under Basel 3 are Hybrid Tier 1 and Lower Tier 2 capital.

The central bank gave banks until December 31, 2015 to use such instruments as part of banks’ capitalization.

In a notice to holders of these notes, BDO said it will pay cash based on a redemption price equal to the face value of the notes plus accrued and unpaid interest as of, but excluding, May 31.

The debt papers were issued to bank roll BDO’s ex pa nsion pla ns and refinance its dollar-

denominated unsecured subordinated notes.

A portion of the proceeds of the $1-billion stock rights offering in June last year will be used to retire the notes, BDO said.

In November last year, the bank also exercised its call option to redeem the Tier 2 notes which were due in 2017.

Last month, BDO raised P5 billion from the sale of long-term negotiable certificates of deposit.

The bank booked a net income of P14.3 billion last year -- a record profit -- up 36% from the previous year.

Metrobank... from page 5

one-month tenors. These were previously pegged at the overnight borrowing or reverse repurchase (RRP) rate, which currently is at 3.5 percent.

“There is still some room for BSP to cut the SDA rates to as low as two percent as inf lation remains benign.

They might stop at two percent to take a look at the pulse of the inf lation picture,” Bautista said.

Relat ively, B aut i st a expects t he peso to appreciate to 39.4 to a dollar this year as dollar inf lows are expected to remain strong.

“We don’t see many outf lows of dollars, which outlays for peso strength,” he said.

To date, t he peso is trading at 41-level to a dollar.

Also, Baustista does not see indications of asset bubble in the country to date even as the real estate sector continues to expand.

“Since there has been chronic underinvestment in the Philippines it can still take a lot of activities and will not translate to asset bubble,” he said.

Bautista explained that what is worrisome is “if a lot of funding comes from unsustainable debt.”

“But since the companies are not funded by unsustainable debt and companies have low-cost of borrowing they (investors) will continue to invest,” he said.

Meanwhile, Metrobank targets to open 30 branches this year, total number for the Metrobank and its thrif t bank ing arm, Philippine Savings Bank (PSBank).

“We plan to open new branches in high growth regional areas mostly in the countryside,” Gamboa said.

Metrobank currently have 828 consol idated branches nationwide and 43 of these were opened in 2012.

Gamboa said budget for opening a new branches outside of the metropolis is about P5-7 million on average. (PNA)

Today’s HOROSCOPE AQUARIUS (January 20 – February 18) - Your passion can be infectious and spread throughout those around you. Just be careful though, that you don’t run with your idea and forget to ask everyone else involved how they feel. They may very well agree with your plan, but no one likes to have decisions made for them.

GEMINI (May 21 – June 21) - Pay attention to life’s little coincidences as they can signify a much greater purpose then you initially thought. An unexpected encounter can lead to great rewards for you, but you have to let the situation play out before you can reap them. Sometimes the universe leads you right to someone you didn’t know you needed to know.

LIBRA (September 23 – October 22) - Life moves forward whether you’re ready for what comes next or not. If you have to make a decision before you lose the opportunity then put your faith in your intuition.

You won’t always have the time you’d like to contemplate the details.

Certain situations require instant thought and action and you need to believe you are capable of operating at that pace.

PISCES (February 19 – March 20) - You know what actions lead to a healthy bank balance for you and it’s best to stick to what you know works. Someone else may have a brilliant fiscal plan, but that doesn’t mean it will work for you. Don’t spend energy in an area that doesn’t require modification. In other words if it’s not broken, don’t fix it.

CANCER (June 22 – July 22) - It may seem as though you’ve worked on a particular project for ages with no real forward progress achieved, but that may not be the case. Your professional life gets a breath of new life allowing you to see and feel progress. Keep your optimism high and focus your energy on taking action that will further your purpose.

SCORPIO (October 23 – November 21) -Stress can wreak havoc on your productivity and well being. No matter what circumstances you currently deal with you need to keep an eye on your response to stress.

Incorporate a stress busting activity into your daily life and steer clear of negative news bearers. Focus on the positive aspects of your life and know you can overcome the challenges.

ARIES (March 21- April 19) - Try not to rush a potentially life changing decision. Take your time getting comfortable with the possible results and making the necessary changes to the arrangement to better suit your needs. You’ve entered a new stage in your life and you want to make decisions that reflect this new period, not continue the same way you’ve operated in the past.

LEO (July 23 – August 22) - Don’t let geography limit how far your newest business endeavor can reach. Technology has made it possible and profitable to conduct business in every corner of the globe and you should take advantage of it. Expand your thought process and grand plan to include even the most far reaching places on earth.

SAGITTARIUS (November 22 – December 21) - You may want to take on the world in one day, but the likelihood of accomplishing such a feat is probably not worth the stress it would cause. When you take on too much it can have the opposite effect from what you intended.

Instead of clearing your to-do list it can lengthen it as you will burn out if you keep to such a hurried pace.

TAURUS (April 20 – May 20) - The best way to get to know someone better is to speak to them. When someone appears mysterious it is usually a sign they aren’t willing to open up to just anyone. If you want to pursue some sort of relationship with them you’ll need to take your time investigating who they are. Not everyone is a ‘what you see is what you get’ kind of individual.

VIRGO (August 23 – September 22) - You may not be able to control all the circumstances in your life, but that may not necessarily be a bad thing.

Before you pass judgment on an occurrence wait to see how the situation plays out. The process of coming to terms with the new set of circumstances may actually lead you to a higher plane of existence and enlightenment.

CAPRICORN (December 22 – January 19) - You take pride in controlling as many circumstances around you as possible. You can organize your affairs in no time at all and set and reach goals while others are still concocting a plan. Your expertise may very well be needed over the next few days as a friend requires your assistance.

CROSSWORD puzzle

CIRCLE A WORD composer poser

arne bach bart berio berloiz bizet borodin

brahms chopin coward debussy delibes elgar foss

foster franck gershwin haydn holst ives kern

across 1.Breakable (7) 5.Galvanising (4) 9.Sudden (6) 10.Jester (5) 12.Unit of weight (5) 13.Raise (7) 14.Hesitate (6) 16.Building material (6) 19.Bloated (7) 21.Claw (5) 23.In pieces (5) 24.Pass by (6) 25.Extremities (4) 26.Terminus (7)

DOWN 2.Actor, Williams (5) 3.A Swiss cheese (7) 4.Froth (6) 6.Keep separate (7) 7.Small accordion (10) 8.Dull pain (4) 11.Impound (10) 15.Paroled [anag] (7) 17.Take out (7) 18.Create (6) 20.Medieval instrument ( 4) 22.Lariat (5)

Answers for Yesterday (April 15, 2013)

ACROSS: 1.Depot, 5.Caber, 8.Elm, 9.Purse, 10.Diner, 11.Tee, 12.Equal, 15.Escort, 19.Belt, 21.Ali, 22.Star, 24.Petrol, 28.Perch, 31.Dip, 32.Scorn, 33.Edict, 34.Car, 35.Melon, 36.Elegy DOWN: 1.Dawdle, 2.Picnic, 3.Terror, 4.Ample, 5.Corfu, 6.Beetle, 7.Rodent, 13.Quip, 14.Abet, 16.Set, 17.Ogre, 18.Taic, 20.Leo, 22.Sadism, 23.Appeal, 25.Ensure, 26.Rookie, 27.Lonely, 29.Reign , 30.Hutch

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Wage... from page 1

P48.00 from P2.00 per year share in Gross Domestic Regional Product and there were no increases in daily wage for many years now.

(PNA)

Villar...

from page 1 can give to the more than 900,000 Filipinos abroad who are qualified to vote under the absentee voting law,” Villar said.

Villar, a former Las Pinas Congresswoman, said she and her husband, Senator Manny Villar, have been long-t i me advoc ates of granting Filipinos aboard to the right to participate in national elections.

“We are aware that in past elections, many of our workers aboard who are qualified absentee voters were not able to vote due to several problems in their working places,” Villar said.

“We are hoping that in this elections, more and more Filipinos aboard will be able to vote and exercise their duty in selecting the leaders of this country.”

At t he sa me t i me, Villar said Commission on Elections (Comelec) and the Department of Foreign Affairs (DFA) personnel should see to it that the conduct of the overseas absentee vote should be honest and orderly in order to maintain the integrity of the process.

“A llow ing our OFWs to pa r t icipate in our elections is one significant way we can acknowledge their contribution to the country,” Villar explain.

“They are our modern-day heroes and it is still through their remittances that the Philippine economy has remained upfloat.”

Vi l l a r s a id s he w a s

satisfied with the preparation and information conducted jointly by the Comelec and DFA but added that she would not be surprised of lastminutes problems would still arise in various polling centers for Filipino abroad.

Under t he O vers e a s Absentee voting Act, Villar said, Filipino officials posted in embassies and consulate offices were mandated to extend all forms of assistance t o e nc ou r a ge ove r s e a s Filipinos to make use of their voting right and to help them overcome problems in registering and casting their ballots.

Comelec Commissioner Lucenito Tagle said some 900,000 Filipinos abroad are set to cast their absentee votes sta r t ing Satu rday and that the pill body had completed preparations for the conduct of the overseas absentee voting.

Tagle, chairman of the Comelec’s Committee on Overseas Absentee Voting (COAV) said the first to vote using the automated machines are Filipinos in Hong Kong, followed by Riyadh, Saudi Arabia and the United Arab Emirates..

OAV is set to be held on Sunday at the Bayanihan Center in Victoria Road, Kennedy Town and at the Philippine embassy on D3 Collector Road C Diplomatic, Riyadh. Filipinos in the UAE will vote at the Philippine embassy on Al Bateen, Abu Dhabi.

Tagle sa id t hey have schedu led on T hu rsday the FTS at the Philippine embassy in Singapore on Nassim Road and the Philippine Consulate General in Dubai on Al Quasis Area 3. On Friday, the FTS will be at the Philippine Consulate General in Jeddah on the Rehab District and Philippine embassy in Kuwait on Faiha.

The Comelec opted to

hold automated polls in areas where there’s a large concentration of Filipinos.

Comelec records showed Hong Kong has 83,118 voters; 50,063 in Singapore; 55,842 in Dubai; 30,328 in Jeddah; 30,468 in Kuwait; 53,396 in Riyadh; and 21,645 in Abu Dhabi.

Del Monte... from page 1

plantation to 3,000 hectares, Gov. Mujib Hataman said in his report to President Aquino last Friday.

“The increase in investment w ill in turn prov ide employ ment opportunities for thousands of locals,” Hataman said.

DDC had earlier c om m it t e d t o d e ve lop 1,500 hectares of banana plantations with complete facilities by the first quarter of this year.

As part of its program to give investors confidence in the conflict-ridden region, the ARMM’s Regional Board of Investment (RBOI) has granted tax incentives to potential investors. This is now being enjoyed by DDC. DDC star ted developing 500 hectares i n t he mu n ic ipa l it y of Dat u Abdu l la h Sa ng k i, Maguindanao province in July 2012, investment some US$14 million to the project, US$2 more than the RBOI target in annual investments last year.

That investment alone created some 800 jobs During Aquino’s visit to Cotabato City last Friday, Hataman also reported that the ARMM government is current ly implementing P 9. 4 b i l l i o n w o r t h o f infrastructure, livelihood, e du c at ion , h e a lt h a nd peace initiatives across the autonomous region.

Hataman said DPWHAR MM implemented

reform policies such as no re-gravelling of roads and open, transparent and competitive bidding. They have also bought brand new heavy equipment, vehicles, and survey instruments out of the P136.3M savings in 2012.

Under t he PA M ANA program, the ARMM is also implementing P1.5 billion projects, such as roads, water systems, community inf rast r uctures, ag rifisheries, farm to market roads, elect rif icat ion, reforestation and environmental conservation.

Outlook... from page 1

hounding Mindanao for three years now.

Romeo Montenegro of the Mindanao Development Authority-Mindanao Power Monitoring Commission (MinDA-MPMC) explained that even if the 15-MW of Iligan Diesel Power Plant (IDPP) begins its operation this month, the resulting available capacity of 1,266 MW will still be 76 MW short of the projected peak demand of 1,299 MW. “And except for areas with embedded power generation capacity, daily power outages is bound to persist until 2016 when new coal-fired power pla nt s pre sent ly under construction will go on stream,” he stressed.

Engr. Robert Mallillin, Cha i r ma n of t he PCCI Power Committee suggested that instead of the current practice of using the hydro plants during peak hours, it is best to use the coal-fired, geothermal, and diesel plants as the base load generators.

He explained if fully utilized, despite the peakhour requirement of the whole of Mindanao at 1,134 MW as against the total generating capacity of 1,884 megawatts and diesel contributing 650

MW, hydro at 924.1 MW and coal, geothermal and RE at 308 MW, this should leave Mindanao with excess capacity of some 750 MW. “The power shortage has endured because of the policy of using hydro as base load plant and hence first to be dispatched, which led and continue to lead to the underutilization of diesel-fired power plants,” Mallillin said, Mallillin explained that “amending the dispatch protocol to a l low coa l, geothermal and diesel to be dispatched first as base load plants will encourage fossil fuel plants to run at full capacity.”

“In the short-term, it will also raise electricity cost in Mindanao by approximately P1.25 more or less per kilowatt-hour. But this will only be until the coal-fired plants are connected to the grid to replace the costlier diesel plants used as base load sources of power and assign them later to the cold reserve category,” he added.

Meanwhile, Ricky Juliano, PCCI Vice President for Mindanao, clarified that Minda naoa ns are not opposed to higher rates from the outset as erroneously reported in many broadsheets since they have known and accepted t hat t he longterm response to the power shortage is the entry of fossil plants.

He stressed that what the Mindanaoans request is “to optimize the capacity of the more competitively-priced hydroelectric power plants in Mindanao in order to average down the effect of the higher-cost fossil plants.”

(PNA)

11

production is contracted to 23 electric cooperatives and distribution utilities in Mindanao.

Therma Marine’s highest rate was in May 2012, when its power cost hit P8.49 per kilowatt-hour because fuel cost P33.69 per liter. Fuel comprises some 90 percent of Therma Marine’s cost.

For the breakdown of the March rates, fuel cost a mou nted to P6.25 per kilowatt-hour. Around P0.88 per kilowatt-hout remained for Therma Marine for the salaries of its employees, capital recovery, maintenance and operational expenses.

“As 90-percent of Therma Marine’s power rate is on fuel, the movement on fuel prices in the world market has a sig nif ica nt ef fect on our power rates to our customers,” Therma Marine ch ief oper at i ng of f icer Jovy P. Batiquin said in the statement.

“The fuel cost, however, is a pass through rate and this is regulated by the Energy Regulatory Commission,” he added.

Therma Marine owns and operates two 100-megawatt barges moored in Maco, Compostela Valley and in Nasipit, Agusan del Norte.

Therma Marine’s power barges serve as peaking and a nci l la r y ser v ices, t hus deployed during times of high demand or for back up generation, respectively.

But with not enough supply coming from state-owned Na t i on a l Powe r C or p, Therma Marine is running its facilities as if they were base load power plants.

Barge... from page 1

ut i l it i e s f r om T he r m a Marine.

T h e r m a M a r i n e ’s combined 200-megawatt

CAGAYAN DE ORO Main Branch P & J Lim Bldg., Tiano Brothers – Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947 CAMIGUIN Branch B. Aranas St., Poblacion, Mambajao, Camiguin Tel. # (088) 387-0491 CORRALES Branch Corrales Ave., Cagayan de Oro City DIVISORIA Branch Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631 LAPASAN Branch Lapasan Hi-way, Cagayan de Oro City Tel. # (088) 231-6739a

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Feel the Boracay vibe in the first-ever telco concept store

B

oracay has opened its doors to the first telco concept store in the island that will service both local residents and tourists visiting the country’s premiere tourist destination.

The Globe Store opened in time for the island’s peak season where both local and foreign tourists flock to Boracay, considered as one of the world's top beach destinations attracting over 1 million visitors a year.

“After strengthening our network coverage resulting in superfast surfing, crystal-clear voice calls and real-time text messaging, our subscribers can now experience a world-class shopping experience backed up with great customer service and after-sales support with the new Globe Store in Boracay,” said Globe Stores Transformation Head Maridol Ylanan, “By bringing the digital lifestyle closer to the residents and tourists of Boracay, we hope that our customers would find the products and services they need all within the convenience of a one-stop shop.”

The Globe Store located at D’Mall in Station 2 in Boracay

showcases the unique store concept of Globe. Inside the store, customers can try and explore live demo units. Aside from shopping for postpaid plan or prepaid kit bundled with the latest cellphone and gadget, customers can also shop for the latest accessories that go best with the devices.

Customers can also do various transactions in the store such as account opening, account management, payments, load top ups, and GCASH transactions.

The Globe Store’s design layout complementing the tropical island vibe of Boracay was done

by J. Antonio Mendoza Design Consultants. The distinctive tropical appeal is further enhanced with unique accent chairs made by Kenneth Cobonpue.

The Boracay store personnel on the other hand, will soon don uniform designed by Charina Sarte, one of the country’s famous designers.

Globe currently has 172 stores providing superior customer experience nationwide. Globe is poised to open more concept stores in strategic locations all over the country.

DOLE-10 continues tree planting program

By Abbygail V. Taladua, Liceo U MassComm Intern

The Department of Labor and Employment (DOLE) - Region 10, implemented the tree planting program entitled “Iswag Kagayan. Green our DOLE Program. Tree Growing Activity.” April 11, 2013, Barangay Mambuaya, Cagayan de Oro City.

The tree growing activity is a program of DOLE where they plant bamboos in every barangay where the tallest grass can live.

According to Dir. Johnson G. Cańete, the Regional Director of DOLE 10, the objective of the program is to maintain and preserve Mother Nature. The goal of each planter is to plant 10 bamboos in one year.

Grow A Tree, Save A Future

program donated the bamboo stalks. Xavier University Athletic Club, Barangay Mambuaya residents, Cagayan de Oro River Guides and Vendors Association, Global Chips Technologies Co., and other organizations also participated in the tree growing activity in Mambuaya.

Mr. Atheneus A. Vasallo, the Provincial Head of DOLE Mis. Or. West, said “The CDO river guides and vendors association, headed

by Ms. Rusel A. Lopez, will help sustain the program implemented in the barangay.”

More or less 11,000 bamboos were already planted up to this date, and DOLE hopes to achieve 3 million bamboo plants to be planted in 3 years.

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More Fun at Aliwan Fiesta 2013

N

ow on its 11th edition, Aliwan Fiesta gets grander and more fun this year through its tieup with the Department of Tourism (DOT) and the Tourism Promotions Board (TPB), also with the collaboration of the City of Manila, City of Pasay, Cultural Center of the Philippines, and Star City.

Dubbed as the “Mother of all Fiestas,” Aliwan is a three-day event organized and founded in 2003 by the Manila Broadcasting Company (MBC). It has since become a yearly festivity every April, gathering some of the country’s finest craftsmen, performers, and muses vying for the best float, best street dance, and the much-coveted Reyna ng Aliwan.

DOT Secretary Ramon R. Jimenez Jr. welcomed this new partnership with MBC and said that Aliwan is one of the highlight tourism activities for April. “There is no doubt Aliwan Fiesta is already one of the events in Manila that people look forward to every year.

With the Department of Tourism through the Tourism Promotions Board partnering with MBC, we will make sure this year’s Aliwan Fiesta will be grander, louder, and more fun,” the tourism chief added.

“Our participation in this year’s edition adds more credibility to our more fun campaign as foreign spectators are able to witness all the major festivals in one sweep. This benefits short-staying guests

who will be able to understand our culture better through this extravaganza,” TPB Chief Operating Officer Domingo Ramon C. Enerio III. Set from 11 – 13 April 2013, Aliwan anticipates a robust regional representation from Aliwan Hall of Famer Dinagyang of Iloilo City, to Sinulog of Cebu City and Panagbenga of Baguio City, to the up-andcoming festivities like the Pakalog Festival of Pasig City; Sambali Cagayana Festival of Cagayan; Alikaraw Festival of Hilongos, Leyte; Padang-Padang Festival of Parang, Shariff Kabunsuan; and Melimud Festival of South Upi, Maguindanao –which will all showcase the country’s diverse cultures through music, dance, and costumes.

With more than 5,000 participants from all over the country, CCP Complex will be bustling with local and foreign tourists alike who can feast on a visual extravaganza, regional product bazaar, fashion show, street party, band concert, games, and a fireworks display.

As a yearly tradition, a grand parade of dancers and floats along Roxas Boulevard starting from the Quirino Grandstand and culminating with a final showdown in front of Star City in the CCP Complex will cap off the three-day event.

A total prize of three million pesos await this year’s winners who will steal the crown from

the 2012 champions: Pamulinawen of Laoag, Ilocos Norte for the best float; the Tribu Pan-ay of Dinagyang Festival for the best in street dance; and the reigning Reyna ng Aliwan Angeli Dione Gomez of Toledo, Cebu City.

“The fiesta is a quintessential Filipino way of celebration, giving a glimpse of the country’s diverse society, cultural heritage, and unparalleled natural bounties. It is one of the blocks upon which we built our being Filipino.

In almost every town, province, or city, fiestas serve as their profound way of remembering the blessings of the past years, commemorating historical milestones, and expressing pious devotion to religious images. Thanks to Aliwan Fiesta for making it possible for the traveler to get a feel of the Filipino warmth and catch a glimpse of our festivals in one place for three fun-filled days. Hopefully, this will encourage more tourists to stay longer and excite them to travel outside Manila for a complete, authentic Filipino fiesta experience,” Tourism Secretary Jimenez remarked.