BusinessDaily Mindanao (May 1, 2013 Issue)

INSIDE LOOK

Commercial bank loans up 14.2% in March Oil palm industry on the rise: PPDCI

Rodriguez for creation of local jobs agency

Puregold doubles Co’s earnings

Angara to pursue OFW assistance

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Volume III, No. 203

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BUTUAN City -- The Agusan Norte Provincial Disaster Risk Reduction and Management Council (PDRRMC) members convened Wednesday to discuss the proper usage of the local disaster funds.

The Department of Budget and Management (DBM) Caraga assistant regional director Ricky Sanchez presented the Joint Memorandum Circular No. 20131 “Allocation and Utilization of the Local Disaster Risk Reduction and Management Fund (LDRRMF). He said the circular was issued to guide LGUs in the allocation and use of the LDRRMF and to enhance transparency & accountability in the use of the fund.

Based on Section 1 of Republic Act No. 10121 otherwise known as the Philippine Disaster Risk Reduction and Management Act of 2010, the LDRRMF amounting to not less than five percent (5%) of the estimated revenue from regular sources shall be set aside to support disaster risk management activities.

Congress Watch

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LDRRM fund

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ABOR groups attending a dialogue in Malacanang yesterday took President Benigno Aquino III to task for not addressing their concerns and grievances ranging from the continued killings of unionists to failing to fulfill a promise to hold regular dialogues.

Briefly GINGOOG City – Anchored at creating a stronger partnership with agri-stakeholders in attaining the government’s bid on food self sufficiency and in support to the promotion of the Organic Agriculture Act of 2011, the Department of Agriculture-10 through its High Value Crops Development Program (DA-HVCDP) supports the Lanzones Growers of Gingoog in Action (LANGGA) Producers Cooperative in the rehabilitation and expansion of their Farmers Organic Center (FOC).

The project was realized through a cost-sharing scheme wherein P 250,000 was provided by DA-HVCDP for the establishment of vermi-shed, 3 (1x10m) vermibeds and provision of 4 fabricated steel vermi-beds. Meanwhile, the LANGGA Producers Cooperative also provided P 50,000 as their equity in the form of labor.

The FOC is LANGGA’s flagship project established in 2010 which produces organic fertilizers for sale to members and non-members of the cooperative for only P300 per bag. The rehabilitation of the FOC doubles the production capacity from 100 bags to 200 bags every two months, with increase earnings from P 30,000 to P 60,000 per harvest. This will encourage local farmers to venture on this business and support organic farming.

Congress Watch

‘No wage hike!’

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They also left disappointed as Aquino thumbed down their proposals to certify urgent the security of tenure bill and to raise the tax exemption for bonuses and other benefits from P30,000 to P60,000. hike/PAGE 11

POWER OUTLOOK

Solar energy can help ease Mindanao power shortage

By MIKE BAÑOS Editor-at-Large

Pres. Aquino brushed aside calls to certify bills that would benefit the labor sector.

SOLAR energy power plants can contribute up to 600 megawatts of power in the Mindanao grid over the next six years after 2016.

D a v i d A . Ta u l i , engineering consu ltant from the Office of Rep. outlook/PAGE 11

9-out-of-10 in Normin are employed: NSO THE Nationa l Statistics Office (NSO) during a news conference here reported that 94.4 percent or nine out of 10 persons in region 10 are employed in the first quarter of the year.

Dr. Marilou B. Igdon, NSO regional director and Dr. Janith C. Aves, Misamis

POLL WATCH

Oriental provincial statistics officer said it is important to do a quar terly labor force sur vey to monitor the employment rate in the region.

NS O s a id Nor t her n Mindanao has the highest Labor Force Participation Rate (LFPR) among t he

regions with 68.5 percent, wh i le t he Autonomou s Region in Muslim Mindanao had the lowest LFPR with 58.1 percent.

Of the estimated 37.94 million employed persons in January 2013 in the country, 54.1 percent were working NSO/PAGE 11

ADVERTORIAL

Good governance is best Labor Day gift: Villar NACIONALISTA PartyTea m Pnoy senator ia l c a nd id ate a nd for mer Las Piñas Rep. Cynthia Villar today said the firm c om m it me nt to go o d governance that will pave the way for the delivery of fresh investments and job opportunities would be the best gift government can give its workers on Labor Day. At the same time, Villar thank the labor sector for declaring its support for her villar/PAGE 11

Close to 1,500 workers are working on the AboitizPower power plant project in southern Davao City, which, when completed in 2015 will provide a long-term relief to the Mindanao power crisis.

Aboitiz logs 1M safe working hours

By CHRISTINE CABIASA, Reporter

THE construction of the AboitizPower’s 300-MW 24/7 baseload coal power

plant in Davao City logged its first one million hours of Aboitiz/PAGE 11

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

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R-12 jobless rate drops Oil palm industry on the rise: PPDCI GENERAL Santos City -Unemployment rate in Region 12 or the Soccsksargen Region has dropped to 4.8 percent this year as employment

prospects for local workers has continued to improve.

Ofelia Domingo, Department of Labor and rate/PAGE 10

THE Philippine Palm Oil Development Council Inc. (PPDCI) says oil palm can be the answer to economic development in the country.

In its 8th National Palm Oil Congress held here from April 18 to 19, Dr. Pablito P. Pamplona of PPDCI said the congress aims to answer the vegetable oil shortage in the country now imported at P6.68 billion in 2010; to export, promote high farm pr o du c t i v i t y, g e n e r a t e employment opportunities and use oil palm biomass for organic fertilizers, biofuel and electricity.

Pamplona said through expanding and prioritizing oil palm as the main crop in farm lands, it would enable a typical farmer owning 3-5 hectares (ha) to earn enough to buy nutritious food for the family, buy household appliances like a refrigerator, a television set and buy a brand new car, among others.

He added that neighboring countries such as Malaysia, Indonesia and Thailand have already reaped the fruits of their labor from expanding their oil palm farms. Thailand has planted over one million ha; Malaysia has surpassed five million ha and Indonesia has over 10 million ha.

Through government support, these countries

are gaining mi l lions of dollars. Thailand is already exporting about US$400 million; Malaysia, US$17 billion and Indonesia with US$15 billion worth of palm oil.

As of April 2013, PPDCI has ex pa nded oi l pa l m plantings to 73,460 ha all over the country.

PPDCI President Robertino E. Pizarro said

they are extending efforts and have been at the forefront of promoting the local palm oil industry. He says the Philippine palm oil industry is expanding slowly but steadily.

PPDCI over t he past 10 years has intensif ied global technology search; disseminated technology through training technicians and farmers and promoted t hroug h t ra i ni ng croplivestock integration among st a keholders for added income and to cope with the fluctuating global price of palm oil and climate change.

They have also convinced local and national leaders to support oil palm farming to overcome poverty and promote rural prosperity; prepared and multiplied techno guides, extension materials and books on palm oil production and conducted dialogue with lawmakers palm/PAGE 10

Bangsamoro gets $7-M grant from UN, WB ZAMBOANGA City -- The United Nations (UN) and the World Bank are providing a technical support grant worth of $7 million, or roughly P288 million, to the Moro Islamic Liberation Front (MILF) and members of the Bangsamoro Transition Commission.

The grant is a joint effort in support of the southern peace negotiations, which is on its final stretch, the UN said.

It said the new assistance, dubbed “Facility for Advisory Suppor t for Tra nsit ion Capacities” (FASTR AC), will assist the MILF and the

Philippine government to “build capacity to address key issues for the Bangsamoro such as governance, justice, combatant transition and security.”

The statement said priority areas under FASTRAC will be determined jointly by the Philippine government,

the MILF, and the 15-man Tra nsit ion Com mission tasked to draft the Basic Law that will serve as the lega l fou ndat ion of t he Bangsamoro region that is eyed to replace the existing Autonomous Reg ion i n Muslim Mindanao by 2016. grant/PAGE 10

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Puregold doubles Co’s earnings THE holding f irm of Lucio Co nearly doubled its earnings last year buoyed by the expansion of Puregold Price Club Inc.

Alcorn Gold Resources Corp, set to be renamed Cosco Capital Inc, said its consolidated net income af ter minorit y interest reached P1.5 billion last year, 95 percent higher than the P783 million in 2011, based on the proforma combined financial information submitted to the Philippine Stock Exchange on Tuesday.

Alcorn recently obtained the approval of the Securities and Exchange Commission to change its corporate name and hike its capitalization, but the local bourse has yet to reflect the changes on its trading system.

Alcorn’s consolidated revenues climbed 46 percent to P60.7 billion, mostly due to the strength of Puregold, which accounted for about 95 percent of total revenues.

The liquor distribution segment contributed P2.7 billion to revenues, a 19 percent i ncrea se f rom the previous year’s P2.2 bi l lion on t he back of higher cases sold and the number of brands taken

in the portfolio.

Revenues f rom rea l estate operations jumped 53 percent to P920 million from the previous year’s P600 million due to the acquisition of a property in For t Bonifacio t hat generated full-year lease revenue, and the completion of buildings in Subic and Divisoria that contributed partial revenue for the year.

The holding firm’s oil storage business commenced operations last November and contributed P17 million to revenues.

Mining revenues dropped 29 percent to P4.1 million, largely due to t he decrease in t he revenue share for Service Contract-14 B1 or North

Matinloc.

Alcorn recently received the green light from the SEC to increase its authorized capital stock from P3 billion divided into 300 billion shares with a par value of P0.01 each, to P10 billion divided into 10 billion shares with a par value of P1 each. This will set the stage for the consolidation of Co’s businesses under the listed holding firm.

I n D e c e m b e r, t h e holding firm cleared the subscription of the Co group to 4.99 billion new shares at P15 apiece for a total subscription price of P74.81 billion in exchange for the shares he owns in his various companies.

The new shares will be

Swift Foods announces leadership change THE TOP official of Swift Foods, Inc. has resigned, effective the end of next month, for “personal reasons,” the food manufacturer said in a disclosure yesterday. “ T he i s suer’s (Sw i f t Foods’) president and chief executive officer (CEO), Luis Bernardo A. Concepcion, tendered his resignation during the regular meeting of the board recently. Mr. Concepcion’s resignation was due to personal reasons, and to take effect on May 31,” the disclosure read.

Mr. Concepcion, 52, was elected Swift Foods president and chief operating officer in 1996, according to the

compa ny’s 2011 a nnua l report.

He had also served as president of the Philippine A s s o c i at ion of Broi ler Integrators from 1988 to 1989, and is currently cochairman of the Bishops Business Conference Committee on Food Security.

Swift Foods officials were not available for additional details on Mr. Concepcion’s resignation.

The firm’s board then tapped one of its directors to replace Mr. Concepcion, Swift Foods said.

“Francisco A. Segovia was appointed by the board as the new president and CEO

AUTO parts manufacturers are pushing for an exchange program that would involve sending personnel to Japan for training as part of the Philippines-Japan Economic Pa r t nersh ip Ag reement (PJEPA).

“We have some parts makers who want to send

trainees to Japan, those graduating from university, and they will come back to the Philippines with the host company in Japan giving orders to the trainees to help manage new lines of parts manufacturing,” Philippine Automotive Competitiveness C o u n c i l I n c ( PAC C I )

of the issuer, to take effect on June 1,” the disclosure added.

Mr. Segovia, 58, is a Swift Foods director and vicechairman of Rizal Lighterage Corp.

He is also president of Segovia & Co., Inc.; Fritz International Philippines, I nc .; Horseworld , I nc .; Big A Av i at ion C or p.; Intel licon, Inc.; Reg ina Rea lt y/Ch ico Hold i ngs; V LA Proper t ies, Inc.; Victoneta, Inc.; Victoneta Investment; Araneta Institute of Agriculture; Republic Dynamic Corp.; and Republic Consolidated Corp.; as well Change/PAGE 7

Auto parts manufacturers lobby for training exchange program under PJEPA

executive director Ramon Vicente T. Kabigting told a Management Association of the Philippines (MAP) forum on Monday.

PACCI groups the Motor Vehicle Parts Manufacturers Association of the Philippines Inc (MVPMAP) as well as program/PAGE 7

taken out of the unissued shares from the increase i n aut hor i z e d c apit a l stock, which shareholders approved last year.

A s a re s u lt of t he transaction, Cosco will own 51 percent of listed retailer Puregold and 100 percent of other companies controlled

by Co. They are Ellimac Prime Holdings Inc, Go Fay & Co Inc, SVF Corp, Nation Realty Inc, 118 Holdings Inc., Patagonia Holdings Corp, Fertuna Holdings Corp, Premier Wine and Spirits Inc, Montosco Inc, Meritus Prime Distributions Inc and Pure Petroleum Corp.

Montosco, Meritus as well as Premier Wine and Spirits are the exclusive distributors in the Philippines of wellknown imported brands of wine, spirits, beer and other beverage from Europe, the Americas and other countries Pure Petroleum is a lessor to a number of petroleum companies of oil storage tanks and facilities inside the Subic Bay Freeport Zone, while Fertuna owns a commercia l building that it leases to Puregold Supermarket.

Ellimac is a lessor and developer of commercial properties.

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Corpnews Briefly Sellers get P280M

MAJOR SHAREHOLDERS of Touch Solutions, Inc. are set to get P280 million after selling a controlling stake to a foreign investment company, the listed information technology solutions provider said in disclosure yesterday.

“Shiok Success International Ltd. agreed to pay the selling shareholders P280 million for the subject shares,” read the disclosure, which was a supplement to a regulatory filing last Thursday. Touch Solutions last week announced that its major shareholders had agreed to sell 43.225 million common shares to Shiok. That amount represents 70% of the company’s issued and outstanding capital stock. Shares of Touch Solutions lost P1.34 or 8.24% to P17.60 apiece yesterday from P16.26 each last Friday.

Dividends approved

THE BOARD of condominium builder City & Land Development Corp. has moved to distribute stock dividends to shareholders in August, the company said in a disclosure yesterday. “In a special meeting held today, April 29, the board of directors of City & Land approved the declaration of 20% stock dividends to stockholders on record as of July 11, to be distributed on Aug. 6,” the disclosure read. Shares of City & Land gained 11 centavos or 4.56% to P2.52 each yesterday from P2.41 last Friday.

Share listing approved

THE PHILIPPINE Stock Exchange (PSE) has cleared the listing on Thursday of 16.30 million common shares of GT Capital Holdings, Inc. from the company’s P1.43-billion share subscription and placement deal last January, according to a bourse memorandum yesterday. “Please be informed that the board of directors of PSE, in its regular meeting on April 10, approved the application of GT Capital to list additional 16.30 million common shares, with a par value of P10 per share, to cover its private placement transaction with Grand Titan Capital Holdings, Inc.,” the memorandum read, noting that the shares will be listed on the PSE on May 2. Shares of GT Capital were traded yesterday at P790 apiece, unchanged from their previous close on Friday last week.

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Closure of wood processing plants affects sawlog production in Region 10 THE lower dema nd for s awlogs brou g ht about by closure of some wood pr o c e s s i n g pl a nt s h a s affected the total volume of sawlogs produced in Region 10 during 2012.

Reports gathered by the Nationa l Economic and Development Aut horit y (NEDA) from the Department of Environment and Natural Resources (DENR) Regional Office 10 show that the total annual production of sawlogs in the region decreased by 63 percent in 2012 compared to the production volume of

29,862.18 cubic meters in 2011.

These plants could not renew t hei r per mits as they failed to satisfy the requirement of Executive Order (EO) No. 23 for wood processing plants to present proof of sustainable sources of legally cut logs for a period of at least five years, said Engineer Cecilio Y. Clarete, NEDA-10 Chief Economic Development Specialist, in a media forum held recently here.

EO 23 was issued by President Benigno S. Aquino

III declaring a moratorium on the cutting and harvesting of timber in the natural and residual forests.

For the fourth quarter of 2 012 a lone , a l l t he provinces that submitted reports on sawlog production DENR-10 also experienced reduction with Bukidnon and Camiguin posting the biggest decreases at 57 percent and 79 percent, respectively.

A mon g t he re a s on s cited for the production decline was the stoppage of the harvesting operation of Bukidnon Forest Inc. (BFI),

Clarete said.

He said t he BFI was reportedly ordered by DENR Secretary Paje on May 2012 to stop harvesting trees in its plantation until further notice.

Meanwhile, the volume of processed forest products which included plywood, blockboa rd a nd veneer reached 143,823 cubic meters in 2012 surpassing the 2011 production by 17 percent.

Clarete said the growth was attributed to the increase in demand for veneer and blockboard.

DA sets aside P500M to promote hybrid rice A TOTAL amount of P500 million will be allotted by the Department of Agriculture (DA) to encourage more farmers to plant hybrid rice varieties as part of attaining national rice sufficiency by the end of the year.

In a statement, Agricu lture Secretar y Proceso J. Alcala said that f rom t he P50 0 m i l l ion budget, P200 million will be spent this year while the remaining P300 million will be spent in 2014.

The budget is allotted to i ncrea se hy br id r ice utilization and hectarage by eight to 10 percent in 2014 from 3.5 percent last year.

Alcala said that the DA will promote both private and public hybrids, particularly t hose developed by t he Philippine Rice Research Institute (PhilRice) as well as establish more technologydemonstrations farms in top rice-producing provinces.

In add it ion, fa r mers wanting to plant hybrids can avail of production loans

of up to P50,000 per hectare and P41,000 per hectare, if they wish to plant inbreds, under the expanded P400million ‘Sikat-Saka’ credit program implemented.

He said the promotion of hybrid rice is an integral part of the Food Staples Sufficiency Program (FSSP),

the Aquino government’s ba nner food securit y program that aims to attain sufficiency in rice and major staples like white corn, root crops and plantains..

Under the FSSP, the DA aims to produce a record harvest of 20 million tons (MT), making the country

100 percent sufficient, which is 11 percent or two million tons more than last year’s output of 18 million MT. He said the choice of what rice varieties to plant, either hybrids or inbreds, still depends on the farmers themselves, as they will have to consider the suitability of their farm, availability of irrigation, amount of farm inputs and capital, and their level of technology.

To hasten the promotion of hybrids, he urged the private seed companies to make their seeds available at the right time when farmers need them.

He also challenged them and the DA-PhilRice to help farmers attain the “10-5” goal, that is, an average harvest of 10 tons of palay per hectare and an average production cost of P5 per kilo.

This way, Filipino rice fa r mers cou ld compete with their counterparts in Southeast Asia, like Thailand and Vietnam.

Mea nwhi le, Phi l R ice director Eufemio Rasco, Jr. rice/PAGE 10

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Bukidnon needs new investment code – biz leader

By Walter Balane

MALAYBALAY CITY — Bukidnon needs to revise its 18-year old investment code for it to be more competitive, Roderico Bioco, president of the Bukidnon Kaamulan Chamber of Commerce and Industry, told the provincial legislature last week, at the opening of committee hearings on the proposed amendments.

Bioco cited t he need to be competitive “given the environment of stiff compet it ion” where Bukidnon enterprises need to compete with those in other provinces.”

He said a new investment code would create proper environment for enterprises to prosper, create more jobs, earn revenues, and push for development, in general.

He explained that the goal of the amendments is to come up with realigned investment plans akin to that pushed by the Department of Trade and Industry, the Department of Interior and Local government, and the business sector.

Bioco cited three highlights of the amendments proposed by the Bukidnon Invest ment a nd E x por t P romot ion B oa rd : T he composition of the board, funding for the board, and details of the investment priority areas.

The business community t hrough t he investment board pushed to reconstitute the body to include more members from the business sector.

Bioco said that under the proposed amendment, the chamber president will become vice chair of the board, ushering greater participation of the chamber.

The board also proposed

that the P500,000 budget p r o v i d e d i n t h e 19 9 5 Provincial Ordinance No. 95-03 be increased to P2 million.

But he said he hopes the provincial board would raise it to P5 million, claiming it is a small investment that will earn more investments fort the province.

He cited the need to identify investment priority areas based on investment directions of the national government a nd t he capability and potentials of the province.

Bioco, stressed t he nat iona l government investment thrusts emphasize on food security.

Manny James Cudal, chair of the Micro-Small Medium Enterprise Development Council, stressed that the investment code is an equally important policy of the province.

“It is ver y important for peace and progress,” he said, adding that for 18 years, the code was “not well appreciated.”

But Ju na r Merla, senior trade and industry development specialist at DTI-Buk idnon, said the major reason why investment a nd e x p or t promot ion did not take off despite a provincial ordinance was lack of personnel.

He said over the years, the investment board only had one job order employee.

Merla said in 2011, Gov. Alex Calingasan decided to revive the board, hired and assigned a regular employee to the office.

He said they propose at least three for the technical sta f f in t he a mended code. (Walter I. Balane/ MindaNews)

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Bank lending inclusive of RRPs, however, improved 14.7 percent to reach P3.5 trillion in March from a growth of 14.5 percent in February.

“On a month-on-month seasonally-adjusted basis, commercial bank lending in March increased by 1.2 percent for loans net of RRPs

while loans inclusive of RRPs rose by 2.4 percent as well,” said the central bank.

Loans for production activities, constituting more than 80 percent of banks’ aggregate loan portfolio, rose 14.2 percent in March from 15.1 percent in February.

Consumer loan growth also slowed, up 10.8 percent in

March from 11.9 percent in February.

According to the central ba n k, product ion loa ns increased primarily due to the growth in loans for real estate, renting and business ser v ices (25.2 percent); financial intermediation (28.8 percent); transportation, storage and communication (26.2 percent); wholesale and retail trade (10.4 percent); and electricity, gas and water (15.4 percent).

Lending to agriculture, hunting and forestry (-10.3 percent) continued its decline in March.

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Commercial bank loans up 14.2% in March THE total outstanding loans of commercial banks, net of reverse repurchase placements with the Bangko Sentral ng Pilipinas, grew 14.2 percent in March, just slightly off the pace of February’s 15-percent increase, the BSP said Tuesday.

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Customers take loans at a bank. Many commercial banks have revised their business targets for the year due to declining profits and rising bad debt.

Land Bank reports 65% gains RCBC, IFC Capitalization complete LAND Bank of the Philippines turned in a 65 percent increase in its profit in the first quarter.

In a st atement , t he state-owned lender said it earned P5.15 bi l lion in the January to March period, up from the P3.313 billion in the same period last year.

Revenues from treasury alone surged 149 percent to P9.80 billion from P3.94 billion in 2012.

It c l o s e d t h e f i r s t quarter with P91.26 billion

in capital, or 30 percent more than a year ago’s P70.10 billion. Its assets e x p a n d e d 2 2 p e rc e nt to P737.45 billion from P604.38 billion over the same period.

As a result, Land Bank’s capita l adequac y rat io stood at 19.65 percent, or well above the regulatory minimum of 10 percent.

Deposits rose 23 percent to P574.65 billion from P468.57 billion last year.

Last month, President Benigno S. Aquino III

signed Republic Act No. 10374, ex tending Land Bank’s corporate life by another 50 years.

“The extension of the Land Bank charter and the bank’s consistently solid performa nce at tests to its continuing relevance and capacity to expand support to the country’s agricultural sector and the countryside, as the government’s partner in its development thrusts,” said bank president Gilda Pico.

share sale agreement to raise stake YUCHENGCO-LED Rizal C om m e rc i a l B a n k i n g Corp. (RCBC) last Friday completed its share sale ag reement w it h IFC Capitalization (Equity) Fund (IFC Capitalization), L.P. allowing the latter to raise its stake in the bank.

I n a d i s c lo s u re t o the stock exchange yesterday, RCBC sa id: “IFC Capita lization h a s c on s u m m at e d it s subscription to 71,151,505 common shares of [the bank]...last [Friday], in accordance with the terms a nd cond it ions of t he subscription agreement entered into by the parties on Feb. 15.”

The shares were priced at P58 apiece, the disclosure read. “...The total issued and outstanding shares of the bank is now 1,275,658,638

common shares,” RCBC said in a separate disclosure yesterday.

In t he ag reement signed last February, IFC Capitalization originally planned to purchase 45.15 million common shares amounting to $100 million, but it “exercised its option to subs c r ib e a nd buy additional shares,” John G. Deveras, RCBC executive vice president and head of strategic initiatives, in a telephone interview yesterday.

After the transaction, IFC’s stake in the bank was increased to “11.07%,” Mr. Deveras added.

IFC purchased a 6.7% stake in RCBC in March last year after it injected P2.1 billion in fresh capital into the bank.

The deal was approved

by RCBC board of directors

on Jan. 4.

Proceeds of the transaction will be used to beef up t he ba n k ’s capital ahead of higher capital standards, as well as finance RCBC’s loans to micro, small and medium enterprises and underserved communities.

RCBC needs to raise $430 million to raise its capita l adequac y rat io (CAR) -- a measure of a bank’s financial strength -- to 11.5% by next year.

As of end-2012, RCBC’s CAR was 17.61%, well-above t he Bangko Sentra l ng Pilipinas’ 10% minimum requirement.

So far, the bank has raised $200 million, with $100 million sourced from this share sale agreement with IFC Capitalization and another $100 million from a top-up offering where Pan Malayan Management and Investment Corp. (Pan Ma lay a n), a pr i nc ipa l shareholder of the bank, sold $100 million worth of its shares in the bank to foreign and local investors.

Proceeds of the top-up offering were then used by Pan Malayan to buy new RCBC shares.

In March, the bank ’s board approved the issuance of $130 million worth of hybrid Tier 1 notes. The transaction is still subject to the central bank’s approval.

It is expected to take place in the third quarter.

Also last March, RCBC said its board approved the sale of RCBC’s 34.8% stake in RCBC Reality Corp. for some P5.48 billion to a consortium of Pan Malayan and House of Investments, both affiliates of RCBC. RCBC -- the country’s fifth largest bank in asset terms -- saw its net income rise by 23.95% annually to P6.21 billion last year buoyed by growth of its le nd i n g bu si ne s s a nd sig nif ica nt ga ins f rom secu r it ies a nd foreig n exchange trading.

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hink a minute…What’s the difference between the best and second best?

Between average and excellent? The difference between a good sports team and a great one?

It’s the hard work, training and discipline.

You can only get out of something what you put into it. “The enemy of the best is second best.”

Successful people sweat the small stuff and work hard at the details.

That’s what makes them successful. But many of us just can’t be bothered to do our very best work.

We look for shortcuts and the easier way to do things.

Our problem is we just want to “get by” with work that is acceptable, but not work that is our very best.

There’s a story about a builder who went on a trip overseas, so he put his manager in charge of building a new house.

He told his manager to use only the best materials and not to take any shortcuts to save money or time.

The boss wanted this new house to be excellent and the very best.

After the boss left, however, his manager did not follow those instructions. Instead he cheated and kept his boss’ money for himself. He used the cheapest, junk building

materials.

He did ever y thing the A Minute cheap, easy way, thinking

By Jhan Tiafau Hurst his boss would never know.

After his boss returned and saw the new house, he told his manager: “Only you and your family deserve to live in this beautiful house.

I’m giving this house to you! It’s your new home!”

So how about you? Are you doing your very best in life? At your job? At home?

At school?

Are you working hard to be the best father and husband you can be?

Are you trying to be the best mother and wife you can be? Remember, God gave us His very best: His one and only Son, Jesus Christ.

So He hopes that we will give back to Him our very best—not just our second best. Does he deserve anything less? hurst/PAGE 7

THINK

ATTY. MARIO T. JUNI Legal Counsel

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Why celebrate Labor Day?

ORE than 100 countries would celebrate May 1 as ris iaz the international Labour Day. The celebration is to honor the hands that “carve” the stones on Earth into lasting monuments of humankind’s triumphs.

There is no appropriate reference that would detail the histor y of Labor Day celebrations. However, there were recorded events that would validate that Labor Day first celebrated 100 years ago in New York.

That New York labor’s day commemoration organized by the Central Labor Union on Sept. 5, 1882 remains the official Labor Day celebration in the United States today.

Russia observed May 1 as labor’s day celebration following the triumphed of the workers. The Russian called the May 1 as the “Day of the International Solidarity of Workers.”

May 1 also represents the 100 years “class struggle” of workers in Russia from 1890-1990.

The Russian celebration of the May 1 as the “Day of International Solidarity of Workers” was changed to “spring and Labor Day” in 1992 when the Union of Soviet Socialist Republic (USSR) became a Commonwealth of Independent States.

The Russian celebration of May 1 as Labor Day attracted some 80 countries around the world (these countries from Europe to Middle East and Asia celebrate May 1 as their official Labor Day, too.

All the countries celebrating May 1 as Labor Day approved the legislations to make the day an official Holiday.

The Philippines celebrated May 1 as official Labor Day, too.

In most countries, workers marched in the streets to demand for higher wages, benefits, and better working conditions on Labor Day on May 1. Workers in Russia parade to the streets to demonstrate the workers’ class struggle until 1990.

The event, however, dramatically changed when the USSR became a Commonwealth of Independent States in 1992. Most Russian workers spent the Labor Day as their rest day. diaz/PAGE 7

C

D

Education for life and beyond

S

CHOOLS are obviously a controlled environment. They are like greenhouses for the students.

They have to be like that, since the students, like young, tender saplings, need a more favorable atmosphere for them to grow to maturity before facing the world on their own.

In schools, the students are given a kind of pure nourishment of knowledge and other values to prepare them for the challenges in life.

They need to be protected somehow from the very fluid if confusing realities of life in the meantime so they can develop the appropriate attitude and skills to be able to sort things out properly.

One of the concerns that we, the elders, should all bear in mind is that the students should be formed in such a way that they can be weaned at the proper time and start to face the realities of life on their own, even if everyone of us always needs the help of everybody else and our education never ends.

We need to see to it that they become fit and able to live meaningfully in the world.

What should be avoided is to spoil them in the school environment such that they could only “survive” in controlled conditions and would be at a loss when they step out of school.

In other words, the students should come out knowing more or less what their proper place and role are in society, so they can work in solidarity with others for the attainment of the common good.

This will involve acquiring things that are both basic and general, applicable to all, on the one hand, and specific,

I

HINTS

attuned to the individual’s qualities and capabilities, on and Traces the other.

By Fr. Roy Cimagala And so the basic questions about man, like who and what he is, where he comes from, to where he is supposed to go, etc., should be made clear to them.

The various implications of those questions, both in their theoretical and practical aspects as they impact on the different areas and levels of human life, should be taken up.

Along with this concern should be the effort to know each student personally, so his or her unique and peculiar qualities can be known and given due consideration in planning for each individual’s formation.

In this regard, it is important that each student gets to have a mentor to guide him personally in an atmosphere of friendship and confidence.

It’s where students feel a bit alienated in some areas that anomalies can arise-like misconceptions of basic values that can lead to bad practices, habits and vices later on.

The formation in the school should try to cover not only the academic aspect, but also and more importantly, the human and spiritual aspects-like the development of cimagala/PAGE 7

Aquino airport to Macapagal airport?

magine PNoy to decide to change our premier airport named after his father.

Should you be PNoy, would you agree (under his watch) to replace the existing premier airport named after his father (a Filipino hero) to your nemesis’ father Diosdado Macapagal International Airport?

Wouldn’t it be easier to change the title of the airport after all he succeeds in all his directives? Regardless of the pragmatic options presented all considering; after losing the families crown jewels the “Hacienda Luisita” would you agree now the airport be relocated totally if not be presented as a secondary airport.

The opening of an alternative airport or the total replacement is simply unacceptable so it seems now that this is slowly coming to relevance.

However to be a true statesman one’s personal interests should be put aside to give way to progress and prosperity for the greater good, right? The options soon to be presented

by Secretary Joseph Emilio Abaya /DOTC to the President mentions possibly the reclaiming the Laguna Bay or Sangley and erasing the existence somehow of Clark which is already functional with parallel runways now in use.

Is there even logic with reclaiming Laguna Bay with the perennial flooding they cannot even address.

Then, of course, there is the cost according to Biazon (presented personally by him in the Ayala Alabang forum last Thursday); there are some 17,000 cities affected by the bay and some 320 billion to fix the bay (isn’t this BS to the highest levels).

There is even talk that an area in Bulacan that may fit the requirement. Parameter B randing set is the distance between By Harry Tambuatco the NCR and the facility as if airports all around the world need to be conveniently in the city for the rich.

The billions required for such a project and the10year gestation it requires accordingly sets the stage for the long term facility to be dictated upon today.

Or is the decision to be made now to compromise the location for good while in power? Should this be the sensitivities of the project, the airport for sure is doomed.

The NAIA or better known the “Ninoy Aquino” International Airport has reached maximum traffic and continues to engage more f lights into a facility whose tarmac is stretched to capacity.

This gateway facility to the rest of the world is now a bottle neck for Filipino’s traveling as well for foreigners be it for tourism or business.

All considering, the sensitivities of the issues are real and should you fill in the shoes for the president is no tambuatco/PAGE 7

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Cimagala... from page 6

basic virtues like humility, order, sincerity, etc., as well as, interpersonal and social skills, etc.

The students should know how to cultivate their spiritual life, their relationship with God which ought to undergird their relationship with others.

In the first place, they need to be aware between what is spiritual and what is material, what is eternal and what is temporal, etc., and the many implications these distinctions generate.

Thus, they need to learn how to pray and grow in their spiritual life through the study of the right doctrine, recourse of the sacraments, development of virtues and the art of ascetical struggle, so indispensable in our life marked by weakness, temptations, and sin itself.

They have to be taught how to deal with all kinds of situations and circumstances, favorable or not, advantageous or not.

They have to learn how to develop convictions based on eternal truths as well as skills in flexibility to dynamic temporal f ac tors a nd i m mu n it y to unavoidable negative elements.

These are tough things to achieve, but as long as they are pursued as early as when both teachers and mentors on the one hand, and students on the other are able to undertake and receive such efforts, then we can expect good results.

There’s obviously a need on the part of the school officials to monitor the development of the students, especially in the individual and personal level.

Obviously the cooperation of parents is a must here. They, after all, are the primary teachers

of their children, though they can delegate much of the dirty work to the schools.

Thus, the healthy linkage between parents and schools is vital here.

That connection has to be nourished in a continuing way.

Diaz... from page 6

Some Russian workers go home to the provinces where they engaged themselves in gardening or having picnic with their families.

Of cou rse, despite t he a d v a n c e m e nt o f m o d e r n technolog y and computers, workers are still the prime m ove r s of t h e c ou nt r y ’s economy. This is especially so in developing countries like the Philippines.

The labor sector in the country remains a potent force.

The working class in the Philippines remains one of the most underpaid sectors.

W h i le t he gover n ment justifies that the workers in the Philippines are among the highest paid in Asia – certainly in figures.

However, with a minimum wage of P269.00 per day, the amount could barely make both ends meet for a family of five. What about those who wittingly violate the minimum wage law?

If the government’s labor department would follow Pres.

Benigno S. Aquino, III “Tuwid na Daan” policy, the country would go bankrupt.

Yes, there are insinuations t hat more t ha n ha lf of t h e c o u n t r y ’s b u s i n e s s establishments would fold up if the labor department would wage no nonsense drive against minimum wage violators.

React crisguardian@yahoo. com

Change... from page 3

as director of R FM Corp., Rizal Lighterage Corp.; RFM Insurance Brokers, Inc.; RFM E qu it ies , I nc .; Ph i l ippi ne Township, Inc.; and Invest Asia Corp., according to Swift Foods’ 2011 annual report.

Swift Foods was incorporated in 1994 to assume RFM Corp.’s business of manufacturing, marketing and distributing processed and canned meat products, poultry products, and commercial feeds.

The company had fallen into hard times in recent years. In August 2011, Swift Foods laid off 37 employees assigned to its Rizal and Bulacan broiler farms that were closed down the preceding month due to an avian virus infection hit the farms’ poultry stock and output.

The food firm trimmed its net loss by 72.78% to P19.03 million as of end-September last year from P69.91 million in the same nine months in 2011, due to continued lower expenses following the shutdown of its Luzon operations in the first half of 2011.

At present , on ly t he company’s Palawan facility remains open, producing Swift Sariwanok chicken, as it awaits “better business opportunities,” according to its 2011 annual report.

Net s a les i n t he s a me comparative periods shrank by 81.64% to P55.87 million from P304.34 million, while cost of goods sold fell by 85.15% to P46.69 million from P314.41 million.

“Despite the company’s complicated economic condition, the management will continue to find ways to solve its pressing problems,”

Swift Foods said in its endSeptember 2012 financial report.

Program... from page 3

the local subsidiaries of Japanese carmakers Toyota, Mitsubishi, Honda and Isuzu.

The Philippines and Japan are reviewing their bilateral free trade agreement, which they ratified in 2008. At present, PJEPA has no provision that facilitates an exchange of trainees from the two countries’ auto industries, Kabigting said.

Japan is a major vehicle parts and assembly hub whereas the Philippines’ automotive sector lags behind its Asean neighbors.

“My recommendation is we sit down with the PJEPA

team of the DTI [Department of Trade and Industry] and related agencies and work on it during the review period for PJEPA,” Kabigting said.

He later told reporters that the training of young Filipino auto parts workers may be discussed in PJEPA’s sub-committees on improvement of the business environment as well as movement of natural persons.

A former Philippine trade negot iator w it h t he DT I, Kabigting said both countries would benefit from training Filipinos to be employed in the auto parts sector as Japanese carmakers could outsource some parts manufacturing operations here.

“That’s additional business for us and them,” Kabigting said.

Tambuatco...

7

from page 6

joke.

We need to remember after the presidency there is still life thereafter and should you have to live through this circumstance how can you truly find peace be it in family or the community as a whole with an incompetence you have garnered as to our brand.

Hurst... from page 6

After all, He created you to enjoy His very best. So why not ask Jesus Christ to forgive you for not living the way you know you should.

Then ask Him to take charge of your character and give you His help.

Then you can start disciplining yourself to always be your best, and never again have to settle for second best.

Just Think a Minute…

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Rodriguez pushes for creation of local jobs agency ALARMED by the continued dismal performance of the Philippine labor market, lawmakers seek to address the problem by establishing an agency solely tasked to plan, manage and supervise local jobs and employment opportunities.

LOCAL EMPLOYMENT AUTHORITY. Rep. Rufus Rodriguez pushes for the creation of the Local Employment Authority to to plan, manage and supervise local jobs and employment opportunities. file photo

Rep. Rufus Rodriguez and his brother, Rep. Maximo Rodriguez, Jr. proposed t he creation of a Loca l Employment Authority as an attached agency of the Department of Labor and Employment (DOLE).

House Bill 1061 seeks the merging of three bureaus under the DOLE, namely: the Bureau of Local Employment, the Bureau of Rural Workers, and the Bureau of Women a nd You ng Workers to give way for the creation of the Local Employment Authority.

Rodriguez said the slump in employment pushes the unemployment rate to a two-digit level, indicating a weak labor market. “ T he u nemploy ment scenario is expected to wors en a nd t here w i l l be substantial loss of job opportunities and income,” Rodriguez said.

“It is the policy of the State to afford protection to lab or, promote f u l l employ ment, ensure equal work opportunities regardless of sex, race or creed, and reg u late t he

relations between workers and employers,” he added.

The Local Employment Authority shall be governed by a G over n i ng B oa rd composed of the Secretary of DOLE as ex-officio chairman, and the Director General of the National Economic Development Aut hor it y (NEDA), the Secretaries of the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) as ex-officio members.

In Addition, the President shall appoint one representative each from the employer/industry and labor sectors, who shall hold office for three years.

The proposed Authority shall formulate policies, standards and procedures rodriguez/PAGE 10

Angara to pursue OFW RDC-10 OKs increase credit assistance in Senate in ’14 NHA-10 budget TWO solons have vowed to pursue in the next Congress the passage of a measure that seeks to alleviate the financial plight of overseas workers and their families.

Re ps . Ju a n E d ga rdo Angara (Aurora) and Augusto Sy juco (Iloilo) authored House Bill 4539 creating a Credit Assistance Program for Overseas Workers, which was approved on third and final reading by the House of Representatives and is now pending in the Senate.

Angara said the bill aims to provide an OFW - who has a va lid employ ment contract processed through a licensed recruitment agency accredited by the Philippine O v e r s e a s E m p l o y m e nt Administration (POEA) with a loan of not more than P50,000.00 from the Overseas Worker and Welfare Administration (OWWA).

The amount sha ll be used to defray the living ex penses of t he OF W ’s fa m i ly du r i ng t he f i rst months of absence or to pay for recruitment expenses including placement fees, documentation costs and plane tickets.

Angara said he will pursue the passage of the bill once he is in the Senate.

Angara said once enacted

into law, the bill will require OWWA to establish within one year after the effectivity of the Act an online payment system wherein the OFWborrower may pay the loan amortization through the internet.

T h e OF W- b or r owe r is obl iged to reg u la rly remit the loan payment or amortization through the OWWA accredited banks.

The loan shall be paid in 12-month installment at a preferred interest rate of

not more than six percent annually.

The bill also provides that the OFW-borrower shall not be issued an Overseas Employ ment Certif icate (OEC) and any other exit permit/clearance to work abroad if he has been unable to comply with the terms of the loan.

The measure authorizes OWWA to hire additional personnel to respond to the requirements of the loan program. (HoR)

Solon pushes for anti-age discrimination in employment OLD and young people will have equal opportunities to ge t employed u nder t h e p r o p o s e d “A n t i a ge D i s c r i m i n at ion i n Employment Act.” House Bill 156, authored

by Rep. Edwin Olivarez (1st District, Parañaque City), will protect the not so young job seekers from employers who do not hire applicants because of age a nd not because of qualifications.

“In the face of rising

productivity and affluence, older workers find themselves disadvantaged or discriminated against t he i r e f for t s to re t a i n employment or to regain employment when displaced from their jobs,” Olivarez said.

Under t he me a su re , employers who fail or refuse to hire or discharge any individual with respect to compensation and other terms and conditions of

employment by reason of age shall be unlawful.

“It shall also be unlawful for an employment agency to fail or refuse to refer for employment, or otherwise to discriminate against any individual because of age, or to classify or refer for employment any individual on the basis of age,” he said.

E mployers w it h le s s than 20 employees shall b e e xe mpt e d f rom t he prohibition of the bill.

agencies instrumental in the recovery of the thousands of victims is the National Housing Authority. They prov ided t he cit y w it h t housands of houses in permanent relocation sites for the victims of Sendong.

And for them to continue doing their mandated task, it is imperative that they be given a budget for 2014 which will ensure that their projects for Cagayan de Oro City be completed,” he added.

The NHA-10 budget is broken down into the following: P91.939 million for personal services, P55.693 million for MOOE, P13.099 million for capital outlay, and P4.725 billion for other funding requirements. (Bong D. Fabe)

IN an effort to hasten the resettlement of victims/ survivors of Tropical Storm Washi (Sendong), the Regional Development Council in Northern Mindanao (RDC10) has approved a resolution increasing the proposed 2014 budget of the regional office of the National Housing Aut horit y (NHA-10) to P4.886 billion from P3.886 billion.

“This increase by P1 billion in the NHA-10 budget is very important as this will hasten the housing resettlement and development projects in the city for those affected

by Sendong,” Rep. Rufus Rodriguez said.

Rodriguez said he is very grateful to the Full Council

of the RDC-10 and RDC-10 Advisory Committee for approving through R AC Resolution No. 13 his move to have the NHA-10 proposed budget increased as it will greatly benefit the city.

Cagayan de Oro suffered its worst tragedy on December 16, 2011 when rampaging flood water with mud and debris destroyed everything in its path at the height of Sendong.

“There are still affected families who are in temporary relocation sites. And this increase in the NHA-10 budget will enable the NHA to build more permanent resett lement houses for them,” he said.

“One of the main government

Lawmaker seeks more farm experts

Non-compliance to minimum wage law to get stiffer penalties

A HOUSE leader has urged the Aquino administration to encourage schoolchildren to pursue farming and farming related jobs for greater food security.

Rep. Teodorico Haresco of Ang Kasangga partylist, Vice Chairman of the House Committee on Small Businesses and Enterprises, noted t hat t he trend of dwindling farmers in the country should be countered, considering that the county needs enough farmers to ensure food security.

Haresco cited that parents these days would rather have children who earn minimum wages rather than breaking sweat to plant palay and corn.

“I understand why parents wouldn’t want to see their children being stuck in farms seeks/PAGE 10

LAWMAKERS are confident that members of the incoming 16th Congress will prioritize the enactment into law of a measure increasing the penalties for non-compliance with the prescribed increases and adjustments in the wage rates of workers.

House Bill 6924 seeks to a mend R .A 6727, as amended by RA 8188 (Wage Rationalization Act), and increase the penalty for noncompliance with prescribed increases and adjustments in the wage rates of workers.

T he S enate version, origina lly f iled by t hen Senator Benigno Simeon C. Aquino III, the bill requires t he increase of pena lt y for non-compliance with prescribed wage adjustments from P25,000-P100,000 to P100,000 – P300,000 for each affected worker.

Violators shall also pay exemplary damages of at least P50,000 per worker, and shall

shoulder the cost of litigation, including attorney’s fees.

“House Bill 6924 is to discourage non-compliance of employer s w it h t he prescribed wage rates for workers in the private sectors and shall serve as deterrent to the commission of wage violations of unscrupulous employers,” stressed Rep. Emil Ong (2nd District, Northern Samar), chairman of the House Committee on Labor and Employment.

The State has t he obligation to protect the rights of workers and promote their welfare, labor being a primary social economic force as stated under the Declaration of Principles and State Policies of the 1987 Const itut ion, sa id Rep. Reynaldo Umali (2nd District, Oriental Mindoro).

“Verily, the minimum wage fixed by law is lower t han t he idea l liv ing penalties/PAGE 10

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Rice...

from page 4 said the goal is attainable, as PhiRice-developed ‘mestizo’ hybrids could produce up to12 tons per hectare, under favorable conditions a nd proper farm management.

This year, the DA aims to expand the area planted to hybrids by 72 percent to 284,4 0 0 hec ta res, versus last year’s 164,787 hectares, accord i ng to Assista nt Secretary Dante Delima.

Last year’s hybrid rice hectarage represented 3.5 percent of the country’s total harvested area of 4,689,960 hectares, while the majority were planted to inbreed and home-saved seeds.

In 2014, the hybrid rice hectarage will be further expanded to 388,000 hectares, said Delima, who also serves a s t he DA nat iona l r ice program coordinator. (PNA)

Rodriguez... from page 8

a nd s y stem s for hu ma n resou rce development, allocation, utilization, and referral and placement for both wage and non-wage employment.

Among ot hers, t he Authority shall also have the power and functions such as, to establish and maintain coordinative linkage with the private sector to facilitate e mp l oy m e nt pr o m o t i o n and generation; undertake development studies a nd researches on employment, promotion, facilitation and enhancement, and submit

recom mendat ions to t he Board, establish and maintain a registration or work permit system i n a id of proper manpower and developing planning, provide legal and technical assistance on matters relating to the employment of both wage and non-wage earners, recommend to the Governing Board and act as the government’s clearing house of all information relating to local employment.

A Director General shall lead the Authority, assisted by a Deputy Director General and shall have three major departments, each headed by a Director IV, namely: Employment Promotion and Facilitation; Employ ment Planning and Monitoring; and Management Services and Operations.

The respective budgets of the three abolished Bureaus shall be pooled as initial funding for the Authority.

As of January 2013, the National Statistics Off ice (NSO) reported that with 40.8 million in the labor force, some 2.86 million still do not have work.

“The Authority shall not only cater to the unemployed and the underemployed but also to the future generations’ work force by improving the present employment situation of the country,” Rodriguez said. (HoR)

Seeks...

from page 8 even if this had been their family’s way of life for many generations because tilling the soil is hard work. It’s hot, it’s filthy and the pay is

barely survivable. As such, the Department of Education should heighten its campaign among elementary students to persuade them to pursue agriculture as a future career and with the help of the latest agricultural breakthroughs,” Haresco said.

The young pupils, Haresco said, should be acquainted with ways to multiple harvests and multi-layered farms which could make farming the most lucrative and most rewarding profession in the near future.

Penalties...

from page 8 wage. Still, compliance by corporations and other work establishments has remained a persistent problem and it is very disturbing, to say the very least,” he said.

Umali pointed out that noncompliance to prescribed wage rates in 1995 was estimated to be 53 percent. This dropped to 20% in 1999 but increased to 30% in 2000.

“The succeeding years showed a continued resurgence of minimum wage violations which the Department of Labor and Employment (DOLE) estimated to be 45 percent,” he added.

DOLE figures show that only 15,879 or 81% of 19,539 firms inspected nationwide in 2005 were found to be complying with the minimum wage law.

But law ma kers sa id t hat whi le t his f ig u re is disheartening, labor reality shows a more grim scenario given that the figure is based solely on companies DOLE inspected. A nd DOLE is

seriously underman to conduct consistent a nd t horoug h monitoring and enforcement of pertinent labor laws.

Palm...

from page 2 for legislative support and custom officials to overcome smuggling.

Further, the Philippine Coconut Industr y (PCA) through Atty. Euclides G. Forbes, PCA administrator, announced its support to the expansion of the palm oil industry in the country and provided the initial fund for training farmers and technicians.

Pizaro said the Department of Agriculture (DA) and the Department of Environment and Natural Resources (DENR) have also concerted efforts with PPDCI, stakeholders and the private sector in the development of the local palm oil industry through the use of unproductive, barren public lands that are suitable for oil palm farming.

Grant... from page 2

“[The fund] will provide on- d e m a nd a c c e s s t o a pool of experts, training, policy advice, research and international exchanges,” the statement read.

Mohagher Iqbal, MILF chief negotiator and the head of the Transition Commission, t o l d B u s i n e s sWo r l d o n Sunday t hat capacit y training for its members is needed in preparation for t he establishment of t he Bangsamoro government.

“Most of us are combatants,” he said.

He said the signing of the f inal peace deal with the government spells a new task for the Moros on how to genuinely rule their ancestral land, for which they have been fighting for more than four decades.

The UN said the grant will cover three years.

Luiza Carvalho, the UN resident coordinator, said FASTRAC will “provide the Transition Commission and related institutions access to the best possible national and international expertise in moving forward with the peace process, especially in the drafting of the Basic Law that will reflect the Bangsamoro people’s aspirations for genuine autonomy while establishing the basis for efficient and accountable government.”

In addition to the technical advice, the program will also support community outreach and consultations to ensure that the new Basic Law reflects the views of communities across the Bangsamoro.

The UN Peace-Building Fund and the World Bank State and Peace Building Fund will finance the initial phase of the program. Development partners will also be invited to contribute funds and expertise.

Rate... from page 2

Employment (DOLE) Region 12 director, said Tuesday the region’s employment rate soared to an all-time high of 95.2 as of January based on a survey and monitoring conducted by the agency.

The official said the region a l s o p o s t e d a l a b or fo rc e participation rate of 66 percent based on its January data.

Region 12 comprises the provinces of South Cotabato, Su lt a n Kud a r at , S a r a nga n i and North Cotabato as well as the cities of General Santos, Koronadal, Tacurong, Kidapawan and Cotabato.

“Our improved employment rate was mainly affected by the booming businesses and the increased entry of investments in different parts of the region,” she said in a media forum in Koronadal City.

Domingo a lso attributed such accomplishment to the improving quality of graduates and skilled workers in the area.

She said DOLE-12 and its attached agencies, among them the Technical Education Skills and Development Authority, Nat iona l C onc i l i at ion a nd Mediation Board and the Overseas Workers Welfare Administration, have been doing everything “to make sure that our manpower in the region is efficient and can compete with other regions.”

“That’s one of the reasons why our employment rate is higher compared to other regions and even in the national scale,” Domingo said.

“More people have been moving in to General Santos City and Sarangani these past years because more business and employment opportunities have been also opening there,” she said.

Mea nwh i le, t he of f ic ia l declared the pre-Labor Day jobs fair held in Koronadal City last Friday as a major success.

She said a total of 430 walkin job applicants and 42 job seekers were hired on-the-spot by companies and job placement agencies that joined the activity at the Gaisano Grand Mall in Koronadal. (PNA)

Today’s HOROSCOPE AQUARIUS (January 20 – February 18) - You’ve been super focused on giving flight to your professional aspirations. As your project gets nearer to completion it may be wise to pepper in some social time into your schedule. If you spend all your time at work those you love will start to feel neglected. There is much to be said for obtaining balance in your life.

GEMINI (May 21 – June 21) - It may be necessary for you to step outside of your own thoughts and feelings in order to clearly assess an opportunity.

You’ve put a ton of effort into changing the direction of your career and you can start to see movement now. Sit back and view the situation as if you were helping a friend make a decision and you will be much better off.

LIBRA (September 23 – October 22) - When you are fighting a nagging feeling you may want to spend some time figuring out the root cause.

If you hold onto a feeling and don’t express it you won’t solve anything.

Speak on how you feel and take care to construct your message in the least damaging way possible. You can make your point without making enemies.

PISCES (February 19 – March 20) - As your financial situation changes you will also need to modify your fiscal management strategies. You want to ensure your spending and savings practices are in line with your changing income or monetary goals. It may be necessary to consult a professional money manager and put more effort into achieving financial freedom.

CANCER (June 22 – July 22) - Don’t be discouraged if progress doesn’t seem to come as quickly or easily as you had hoped it would. Keeping plodding along and in a little while you’ll be able to use hindsight to view your achievements. Consider the timing of your goals and if you are giving yourself a realistic enough deadline.

SCORPIO (October 23 – November 21) - You go about your business effectively and manage to stay extraordinarily productive no matter how swamped you are. Part of this is due to the fact that you maintain a steady routine. Another factor is your tireless drive and determination.

Just make sure you don’t adhere too strictly to your schedule and you allow some room for spontaneity.

ARIES (March 21- April 19) - Focus your attention on reworking your budget today to make sure you have more money coming than going.

It’s the everyday nonsense expenditures that really add up and have a greater impact than we think. Monitor your purchases and see if there are any areas you can modify to allow you to hold on to more of your cash.

LEO (July 23 – August 22) - Your life is changing, Leo, and entering an entirely new professional phase. It may not seem as though anything has altered, but changes are occurring. Allow life to proceed along the course it currently runs and don’t try too hard to manipulate it. When you dig your heels in too far you can actually get in your own way and prevent intended progress.

SAGITTARIUS (November 22 – December 21) - Your personal wealth does not equal your personal value. Resist the urge to judge yourself based on the bulge in your bank balance. You possess characteristics worth admiring which carry far more value than the amount of money and worldly possessions connected to you. Switch your perspective and don’t allow fiscal means to determine your worth.

TAURUS (April 20 – May 20) - With the assistance of Venus in your sign building sturdy bonds is possible. It isn’t enough to have people in your life, they have to serve some purpose or fulfill some need. It is imperative they love you for who you are and accept you in ‘as is’ condition. Associate yourself with others of the same trustworthy cloth you were cut from.

VIRGO (August 23 – September 22) - Due to the fact that you can organize just about anything and develop an effective strategy to manage a situation you tend to overwhelm yourself. Too much work is never a good thing unless you consider burning out a positive move. Think about giving yourself a well deserved break in another locale.

CAPRICORN (December 22 – January 19) - In order to focus on a major upcoming project you will want to use your time now to clear your desk of overdue agenda items. You may not think these pesky tasks are even worth your time, but sometimes it helps you get clarity to work without having to think. Get organized and square away anything taking up space on your desk.

CROSSWORD puzzle

CIRCLE A WORD health check

ache antibiotics apply back pain blood test cold cough

cream diagnose doctor dose drug examine feel

fever glands health ill listen medicine pills

across 1.Half a diameter (6) 5.Type of saxophone (4) 7.Squeeze (5) 8.Crippled (4) 9.Golfing Stroke (4) 10.Two-mastered boat (5) 11.Walk warily (6) 13.Skin complaint (4) 14.Hazard (6) 18.Lure (6) 21.Blaze (4) 22.Motionless (6) 24.Chris, US tennis star (5) 25.Sign of affection (4) 26.Jumping parasite (4) 27.The Muhammadan religion (5) 28.Disarray (4) 29.Solemn promise (6)

DOWN 1.Connected (7) 2.Lifeless (5) 3.Sharp metal point (5) 4.Roman sea God (7)

5.Pavement material (5) 6.Ill-fated liner (7) 12,Mining extract (3) 15.Offensive (7) 16.Old Testament book (7) 17.Divulges (7) 19.Singer, ‘King’ Cole 20.Minority group (7) 22.Terence, British actor (5) 23.Michael Caine film of 1966 (5)

Answers for yesterday (April 30, 2013)

ACROSS: 1.Mascot, 4.Stoop, 7.Eric, 8.Roar, 10.Robot, 11.Layette, 12.Heed, 14.Witch, 16.Ideal, 18.Aria, 19.Pear, 21.Toper, 22.Darts, 25.East, 28.Protest, 29.Media, 30.Slow, 31.Talc, 32.Norse, 33.Kaiser DOWN: 1.Marsh, 2.Scale, 3.Tenement, 4.Screw, 5.Orbit, 6.Pitcher, 9.Radiant, 1 3 . E a r, 1 5 . I m p r e s s , 1 7. L i p s t i c k , 18.Abdomen, 20.Ass, 23.Radar, 24.Spate, 26.Atlas, 27.Tower

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Villar... from page 1

her senatorial bid, saying the expression of confidence would prompt her to work harder to propose pro-labor measures when elected into the Senate.

Vil lar said she was hu mbled by t he suppor t extended to her and seven other senatorial candidates by t he Ph i l ippi ne Tr ade a n d G e n e r a l Wo r k e r s O r ga n i z at ion (P TGWO) u nd e r t he Tr a d e Un ion Congress of the Philippines (TUCP), the biggest labor confederation in country.

T h e w o r k e r s ’ g r o u p, which boasts a membership of 110 labor unions, declared its support for Villar and the other candidates in a general assembly in the TUCP headquarters in Quezon City on Wednesday.

In her Labor Day message to the countr y’s workers, Villar said the Nacionalista Par t y is commit ted to support the reform agenda of President Aquino to bring about good governance, an improved economy, more jobs and better services to the people, particularly the poor and the marginalized, in the next three years.

“I believe t he best Labor Day gift we can give ou r workers w i l l be ou r commitment to pursue good governance which is a surefire formula to revitalize our economy and create the much needed jobs being clamored by our workers for a long time now,” Villar said.

“Good governance will mean more investments and more investments will mean more jobs. That is what we intend to do in t he nex t three years in our coalition partnership with President Aquino,” she added.

Once elected into office, Villar said she will pursue her long-time advocacies of promot i ng l ivel i hood opportunities through small and medium term business enter pr i s e s , prov ide t he necessary climate that will bring out more jobs a nd better social services.

To address the concerns affecting the over 12 million Filipino migrant workers abroad, Villar said she will pu rsue t he enac t ment of h e r l e g i s l a t i ve m e a s u r e mandating the creation of the Department of Overseas Filipino Workers.

Villar said it was essential for the executive department to have a separate department for OFWs to centralize all ser vices and functions of OFW-related government agencies or bureaus.

Vi l la r s a id a nu mber of them were reported to be ma ltreated by abusive employers and subjected to other forms of injustices.

Through the “Sagip OFW P r o g r a m” of t h e V i l l a r Foundation, where she sits as managing director, Villar said she has personally heard all the troubles and sad plight by migrant workers.

Hike...

from page 1 Li kew ise, despite t he statement of the Deartment of Labor and Employment (DOLE) that there will be no announcement of wage increase on May 1, Secretary Rosalinda Baldoz said that they intend to give a non-wage

benefits and workers shall expect it on Labor Day. Baldoz said that the nonwage benefits will include affordable housing facilities for minimum wage earners i n gover n ment a genc ie s particularly in Metro Manila and scholarship grants from Social Security System (SSS) a nd Government Ser v ice Insurance System (GSIS).

Malacanang also confirmed the dialogue between the President and DOLE leaders and said that included in the dialogue are the observance of constitutional guarantees to security of tenure, self organization and collective bargaining tax exemptions for minimum wage earners, a nd i n s t it ut iona l i z at ion of Consultive Council on Overseas Filipino Workers.

Baldoz said that they see no reason for wage increase as she refers to the law.

The law states that all wage orders issued sha l l not be disturbed for a year from its effectivity and there shall no petition for wage increase entertained within the 12-month period unless there are supervening conditions.

DOLE considers supervening conditions such as extraordinary increase in price of basic commodities and services.

DOL E a lso sees no super veni ng events to announce an increase on wage.

Yet, Baldoz clarified that it does not mean that there will be no increase on wage within this year.

She s a id t hat DOL E National Capital Region is in deliberation of the 85peso wage increase filed by the Trade Union Congress of the Philippines (TUCP) but it should not be expected to announce the decision on labor day.

In a text message, Director Nicon Fa meronag a lso confirmed that the department is still deliberating the request and is expected to act on TUCP’s petition after June 3.

Tax exemption Aquino also thumbed down the labor sector’s request for tax exemption for minimum wage earners, and for the raising of the taxation bracket for bonuses from P30,000 to P60,000.

He called the labor groups’ demand as an “administrative nightmare,” saying that the government may lose up to P2.74 billion if these tax exemptions will be put in place.

“Ang katumbas po nito: mahigit tatlong libong silidaralan, o mahigit labingisa ng l ibong k aba haya n.

Ma k at w i ra n ba ng i lagay po natin sa alanganin ang edukasyon ng mga kabataan?

Ipagkakait ba natin ang mga proyektong pabahay para sa mga maralita? Huwag naman po sana,” the president said.

Aqu i no howe ver sa id that his administration is committed to generate more jobs, protect the rights of laborers, and enforce the country’s labor laws.

“Ang sarap po sanang sabihing, ‘Lahat ng mungkahi o problema, bukas na bukas din, matutupad at mareresolba na.’ Subalit kapag ginawa namin ito, hindi lang kayo ang nilinlang namin, kundi maging ang buong bayan, at pati na ang sarili namin,” he said.

“Ang maipapangako po na m i n ngayong a raw ng

paggawa: Tunay na solusyon na tumutugon, hindi lamang sa mga problema ng mga ma ng ga gaw a , o ng mga negosyante, kundi ng buong sambayanan,” he added.

According to the National Statistics Office, 7.1 percent of the 9.8 million Filipinos remain unemployed as of January 2013, almost three years into Aquino’s six-year presidency. — KBK, GMA News

Outlook... from page 1

Florencio T. Flores, Jr. (2nd Dist rict, Bu k id non) sa id this is attainable even if the National Renewable Energy Board only set 100MW as the initial installation target for solar PV plants all over the country under the Renewable Energy Law of 2008 (Republic Act No. 9513).

“The FIT for solar PV approved by the ERC (9.68 pesos/kWh, compared with the 17.95 applied for by the NREB) cannot make any commercial solar PV project viable. No private sector project can be implemented with such a low level of FIT,” Mr. Tauli noted.

Mr. Tauli said solar PV advocates will have to apply to the ERC for higher FIT (more than 15 pesos/kWh) that would make commercial projects viable.

“But we cannot do that under the PNOY government, whose energy officials appear to be hostile to solar PV,” said Mr. Tauli. “For now, the only grid-connected solar PV projects that can get done are those that can obtain subsidies or grants, which will have to come from foreign countries or international agencies because large amounts of grants are required.”

Mr. Tauli recently attended the National Renewable Energy Program (NREP) Review and Workshop, held April 18-19, 2013, in Baguio City under the aegis of the National Renewable Energy Board to come up with revised projections of renewable energy projects for private sector investments under RA 9513.

“I believe these are more realistic targets than whatever numbers the NREP Workshop ca me up w it h,” he sa id .

“Theirs may be more realistic than my numbers, but also hopeless. I really believe the projections below for solar PV in Mindanao are attainable.”

Mr. Tauli identified the following solar PV projects in Mindanao set for development from 2013-2023: • 40-MW solar PV project of the Marawi City Government. Total project cost is estimated at P5.25 billion.

Private sector investment will be around P3.22 billion, with the balance to be sourced from local LGU equity in the form of a grant from an Arabian government or donor agency in the amount of P2.03 billion. The project will be operated conjunctively with one 40-MW unit of the Agus 1 hydro electric power plant to provide peaking capacity for consumers connected to the Mindanao Grid. The project is designed to be given the FIT of P9.68 P/kWh approved by the ERC. Target date of operation is 2016.

• 10-MW embedded solar PV project in General Santos City of the Mindanao State University to be used primarily for applied research

by MSU. The 10-MW solar PV

plant will be used primarily for applied research by MSU. It is estimated to cost 1.31 billion pesos, with private capital contributing 0.80 billion, and MSU contributing 0.51 billion pesos to be sourced from grants. The project is designed to be given the FIT of 9.68 P/kWh approved by the ERC. Target date of operation is 2016.

• 100 MW embedded solar PV power plants in various electric cooperatives a nd pr ivate d ist r ibut ion utilities. This assumes that an increased FIT for solar PV, in the amount of 15.94 pesos per kilowatt-hour, will be approved in 2016, making it financially feasible for the private sector to invest in utility-scale solar PV projects.

100 MW will be installed in Mindanao to partially meet the lack of energy supply to distribution utilities. Target date of operation is 2017.

• 450 MW embedded solar PV power plants in various electric cooperatives a nd pr ivate d ist r ibut ion utilities. It is assumed that grid-parity with diesel power plants will be attained in 2022 by solar PV. If so, solar PV power plants with a total capacity of 450 MW will be installed in Mindanao to replace around 200 MW of diesel power plants that are being operated in that year as base-load power plants.

When the NREB filed on May 2011 with the Energy Re g u lator y C om m i s sion the application for Feed-in Tariff (FiT) rates for various technologies, the proposed FiTs in pesos per kilowatt-hour for the various technologies and the initial installation targets in megawatts were as follows: P10.37/kWh for Wind @ 250MW; P7.00/kWh for Biomass @ 250MW; P17.95/ kWh for Solar @ 100MW; P6.15/kWh for Mini Hydro @220MW; and P17.65/kWh for Ocean @10MW. “ T hose were rea l ist ic targets for each technology under the respective FiTs proposed because the FiTs would enable investors to earn a commercially viable rate of return for the power plants that would be constructed,” Mr. Tauli said. “However, t he Energ y Reg u lator y Commission subsequently reduced the recommended Feed In Tariff rate to only P9.68/ kW h for sola r PV power plants, rendering the installation target immaterial.”

Instead, Mr. Tauli advocates Public-Private-Partnerships (PPP) si nce t hese wou ld enable government agencies, especially local government units (LGUs), to access low cost ODA funds which would make

the solar projects feasible.

“For instance, for the 40MW solar PV plant in Marawi that we are still pursuing, we will have to get a grant of around two billion pesos. We believe the Arabian countries can make such a grant available for a project in the ARMM,” he said.

Mr. Tauli concedes that bec au se of t he need for subsidies it will take some time to put a solar PV project on the ground. While continuing to pursue solar PV projects, he also advocates getting hydro projects implemented by provincial, city and municipal governments.

“After the elections, we w ill work on getting t he L a nao Nor te prov i nc i a l government to implement the Agus 3 hydro (225 MW) and the Bukidnon provincial government to implement the Tagoloan 2 hydro (68 MW), and on other LGUs to implement small hydro projects (10 MW or smaller),” he said. “This is the only way to getting enough power plants implemented to meet the long-term requirements of Mindanao, while keeping the rates low (four pesos per kWh or less).”

A US -b a s e d Fi l ipi no company providing renewable energy solutions shares Mr. Tauli’s optimism about solar energy for Mindanao. “ T he D e p a r t me nt of Energ y’s t humbing down solar energy as solution to the power crisis in the southern Philippines is not a hindrance or a barrier in the pursuit of a lasting and ultimately cheaper power sources in Mindanao,” said Engr. Winston Lorenzana Mendoza, chief executive officer of Mendoza Solar, LLC in a media statement.

Mendoza Solar, LLC is an energy company registered in California and Nevada, USA. It provides renewable energy solutions for all types of property owners.

NSO...

from page 1 in the services sector. Those who worked in the agriculture sector comprised the second largest group making up 30.4 percent of the total employed while workers in the industry sector made up the smallest group, registering 15.5 percent of the total employed.

Among the major occupation groups, laborers and unskilled workers constituted the largest group, making up 32.8 percent of the total employed in January 2013. Farmers, forestry workers and fishermen were the second largest group comprising 12.7 percent of the total employed.

Aside from the quarterly labor force survey, NSO is will also

11

conduct this year the Census of Agriculture and Fisheries and Census of Philippine Business and Industry where data is gathered in terms of organization structure, income, expenses, total assets, inventory and partnership, among others this year.

Civil registration activities have also been set.

Igdon said NSO has incorporated outlet transactions and mobile registration where claimants of birth certificates can transact through company partners like SM or register through their barangay hall during an NSO mobile registration.

Any corrections in birth certificates may now be addressed through Republic Act (RA) 9048 or Clerical Error Law, RA 9255 or An Act Allowing Illegitimate Children to Use the Surname of their Father and RA 10172.

Aboitiz... from page 1

accident-free work, taking it closer to its 2015 completion date.

The achievement was reached by contractor First Balfour Inc., one of the major contractors working on the project, which aims to bring a long-term solution to the ongoing Mindanao power crisis, Benjamin A. Cariaso, Jr., Pres. and COO of Aboitiz Power subsidiary Therma South Inc., said.

“Safety is of paramount importance to AboitizPower and with the help of our contractors like First Balfour, we have shown that we can build a world class power plant in Davao City and Sta. Cruz, Davao del Sur,” Cariaso said.

The 1-million hour mark without total lost time due to injury (TLI) is the first ever achievement by any construction project in the Davao region according to the Department of Labor and Employment.

The power plant, which will utilize the latest circulating f l u i d i z e d b e d t e c h n o l o g y, i s targeted for completion in 2015 an will add much needed relief to the hard up Mindanao grid.

As of Wednesday shortage in the Mindanao grid hovered around 150 MW. More than half of the power plant’s capacity had been signed up by distribution utilities and electric cooperatives in Mindanao.

The power supply contracts will be submitted to the Energy Regulatory Commission (ERC) for review.

Manuel M. Orig, Therma South first vice president for government and community relations, said the milestone reflects the hard work and dedication of the whole construction team.

A b o i t izPowe r i s i nve s t i n g more than P3 5 billion to ad d more than 300 MW of power to the Mindanao grid. Subsidiar y Hedcor has started construction of its Tudaya 1 and 2 hydro power project in Sta. Cruz, Davao del Sur to add 13 MW by 2014. Hedcor also recently received approval from host communities for its 52-MW hydro project in Manolo Fortich in Bukidnon.

In the short term, subsidiary Therma Marine supplies 200-MW of power to 23 electric cooperatives and distribution utilities to cushion the effects of the power shortage.

(PNA)

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New principal joins AIE

Mrs. Jane Natividad has been appointed Principal of the Cagayan de Oro Academy for International Education (CDO AIE) starting Academic Year 2013-2014.

This was learned from the School President Mr. Alain Marc P. Golez. Mrs. Natividad brings with her a wealth of teaching and administrative experiences to her new position.

Mrs. Natividad served as Principal of the Xavier School in Greenhills, Metro Manila (Grade School and High School) and ERDA Technical and Vocational School, a primary beneficiary of Xavier School’s institutional outreach program.

The new AIE Principal is the first ever recipient of Xavier School’s Fr. Ismael G. Zuloaga, S.J. Educational Leadership Award in 2009 and Fr. James Meany, S.J. Leadership Award on Educational Service for being a PAASCU Accreditor and Staff Chairman.

Her extensive work in the premiere Jesuit basic education school in Manila for the past 35 years plus her international exposures and trainings bring a new dimension in teaching to AIE and a welcome addition to the highly competent school faculty.

CDO AIE is the first school in the Southern Philippines to adopt the Multiple Intelligence Theory.

It proceeds on the premise that a child undergoes eight dimensions of learning.

T he school also d ist i ng u ishes

Mrs. Jane Natividad it self at g iv i ng per sonali zed i nst r uct ion usi ng a w ide ra nge of excellent facilit ies as well as small class si zes. A st rong pa rent /school relat ionsh ip is also i n place.

En rol ment for i ncom i ng st udent s is cu r rently ongoi ng.

For i nqu i r ies one may call CDO A I E at 727219 or 310 0210 or v isit t he ca mpus located at K auswaga n Hig hway, Cagaya n de O ro Cit y.

Labor Day Job Fair at SM SM City Cagayan de Oro will hold a Job Fair with more than 80 local and overseas companies to offer employment on Wednesday, May 1 from 10am to 5pm at the Ground Floor of the SM Carpark Building.

In cooperation with the Department of Labor and Employment (DoLE) and Cagayan de Oro City Public Employment Services Office (PESO), this 6th Labor Day Job Fair will bring more than 80 employers at the mall to offer local and overseas career opportunities to Kagay-anons.

The Labor Day job fair, which will be held

simultaneously across 46 SM malls nationwide, aims to lessen the inconveniences of job seekers and help as many people as possible find employment especially during this time of unprecedented global challenges.

SM Supermalls, the largest mall operator in the Philippines, has served as a catalyst in creating employment and business opportunities in all areas where they are located, and this job fair is one way SM can do its share for the community and the country as a whole.