BusinessDaily Mindanao (May 3, 2013 Issue)

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Volume III, No. 205

Market Indicators

As of 5:56 pm may 2, 2013 (Thursday)

FOREX

PHISIX

US$1 = P41.05

7,093.42 points

10 cents

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22.43 points

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Briefly Export recovery OUTLOOK remains bright for the Philippine export growth this year on signs of recovery in the demand particularly for semiconductors, according to economists of First Metro Investments Corp. and University of Asia and the Pacific (FMIC-UA&P).

The economists are optimistic about the sector’s rebound despite the January and Fe br uar y d e c line in electronics exports, which comprised about 40 percent of the country’s total exports.

Lower electronics revenues pulled overall exports by -2.7 percent in January and -15.6 percent in February. These figures were in sharp contrast to expectations of a sound export recovery in 2013.

In a report, FMIC-UA&P attributed the reduced electronics and export sales to political and economic turmoil experienced by Singapore, China, Japan and the United S t a t e s ( U S), t h e m a j o r electronics production hubs.

These countries currently are also the Philippines’ top four biggest markets.

Tourism program MOTORISTS passing to Loyola and Porras Streets in the residential-commercial area of Barrio Obrero will have to bear the traffic for a while with road construction clogging its busy streets.

The street projects are part of the unique Department of Public Works and Highways (DPWH) and the Department of Tourism (DOT) convergence action called the TRIP which stands for Tourism Roads Infrastructure Program.

The infrastructure program involves the identification of roads which connects to tourism attractions and products and their subsequent development or rehabilitation.

The Davao Region got the biggest chunk of the road project in 2013 among other regions of the country with an allotment of P1.4-billion. In 2014 a budget of P1.7-billion is being programmed for TRIP in Region XI.

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Government inutile vs. climate change threats

By BONG FABE, Associate Editor

“SCHIZOPHRENIC and inconsistent.”

T

hat is how Von Hernandez, executive director of Greenpeace SouthEast Asia, described the Aquino administration’s policies and programs on climate change and its impacts on Filipino communities.

This ‘green forest’ of oil palm plantation in Kalabugao, Bukidnon refreshens the eye. Before, it was just an idle, barren land but now, ‘one with nature’.

photo by christine cabiasa

Oil palm industry: Contributing driver to the greening of barren lands (First of 3 parts)

By CHRISTINE H. CABIASA, Reporter

WITH its tremendous contribution to the fast growing Philippine economy, oil palm has been regarded as the “tree of peace”, a “fuel of economic growth”, an “environmentspecial friendly” solution to the massive poverty, and for cutting the country’s dependence on imported edible oils.

Unknown to many, the oil palm industry has become a way in the upliftment of

economic life of small farmers, especially in the hinterland areas.

Contrary to claims by environmentalist groups that oil palm destroys report rainforests and forest lands and blames it for the recent flooding in Mindanao, an industry player A Brown Energy Resources Development Inc. (ABERDI) said it is just a distortion of facts. palm/PAGE 11

He r n a nd e z c it e d a s example the Department of Energy (DoE) and the Climate Change Commission (CCC) — two agencies of government that should rightfully be the leaders in ef for ts to protect communities, among others, aga inst t he devastat ing impacts of climate change — whose programs and policies are at loggerheads. “ T he Depa r t ment of Energ y talks a lot about promoting renewable energy alternatives, yet approves coal-fired power plants left and right,” he lamented.

The CCC, on t he ot her ha nd is t he “sole pol ic y-ma k i ng body of the government tasked to coordinate, monitor and e v a lu ate t he prog r a m s and action plans of t he gover n ment relat i ng to climate change.” “ The t hr ust of t he CCC is bot h mitigation and adaptation.

Unfortunately there is a

lack of com mu nicat ion a nd pl a n n i ng b e t we en the two aforementioned agencies [DoE and CCC] to ensure their mandate and programs are aligned and not undermining the other,” he added.

T he DoE is t he sole gover n ment i nst it ut ion mandated to ensure energy security in the cou ntry. Its thrusts, among others, are to (1) expand use of renewable energy; (2) expand energy access; (3) promote low carbon future; and (3) climate proof the energy sector.

However, the DoE is also mandated to “accelerate exploration of petroleum and coal.”

Coa l development, according to Hernandez, “runs counter to sustainable development and will cost the country more in the long run. Coal projects further go against the Renewable Energ y Law. Every coal power plant built prevents threats/PAGE 11

Closed Misor Rural Bank Philsaga workers to get new wage hike clients can still get claims

By CHRIS V. PANGANIBAN Regional Editor

THE Philippine Deposit I nsu r a nc e C or por at ion (PDIC) announced that it will continue to receive and

process deposit insurance cla i ms f rom depositors of the closed Rural Bank claims/PAGE 11

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

ROSA R IO, A g u s a n del Sur--- More t han 4,000 workers of a gold mining company will enjoy new wage increase within this year, a top company executive has assured.

Lawyer Raul Villanueva, president of Philsaga Mining Corporation, told workers du r i ng t he L a b or D ay celebration at mine site in Barangay Upper Co-o that the wage adjustment will be carried out to make good of his commitment when he

A mine worker receives the award from Philsaga officials during the labor day celebration.

chris v. panganiban

assumed the top management post.

Vi l l a nue v a s a id t he

new wage adjustment will benefit to some 2,200 regular philsaga/PAGE 11

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Economy

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

Investments in Region 10 reached P1.82 billion in 4Q of 2012 – NEDA

By Marie-Zil G. Malinao, Contributor

The Department of Trade and Industry (DTI) regional office 10 recorded P1.82 billion in new investments for the fourth quarter of 2012.

file photo

4Q palay production in Northern Mindanao up by 3.85%

By Apipa P. Bagumbaran

CAGAYAN DE ORO, April 23 (PIA) - The volume of palay produced in Northern Mindanao totalled 207,446 metric tons during the fourth quarter of 2012, up by 3.85 percent compared to 2012.

Data gat hered f rom the Bureau of Agricultural Statistics (BAS) in the region show that major output gains were recorded for Bukidnon with 106,013 metric tons, up at about 8.64 percent, from the 97,583 metric tons production in the same quarter of 2011, said Engr. Cecilio Y. Clarete,

Chief Economic Development Specialist of the National Economic and Development Authority (NEDA) in the region in a NEDA Media Forum held recently here.

He s a id t he p osit ive production growth in the province was largely due to the movement of harvest from the previous quarter.

Lanao del Norte, likewise, showed increased production from 64,093 metric tons to 67,234 metric tons or about five percent growth.

This was specifically due

to sufficient water in irrigated areas and sufficient rainfall which enabled more farmers to plant in rainfed, Clarete said.

In terms of yield, the region posted increases in yield in both irrigated and rainfed areas at 0.91 and 7.71 percent, respectively.

C l a re t e f u r t he r s a id Bukidnon also posted the biggest increase in y ield during the quarter because of sufficient water supply and lesser pest infestations and diseases. (PIA10)

E ng i ne er C e c i l io Y. Clarete, chief economic development specialist of the National Economic and Development Aut horit y (NEDA) disclosed during a media forum that most of the new investments went to Bukidnon with 36.20 percent or P659.48 million.

M i s a m i s O c c ident a l ranked second with 25.61 percent or P466.59 million; followed by Lanao del Norte with 18.68 percent or P340.27 million; Misamis Oriental with 11.61 percent or P211.50 million and Camiguin with 7.90 percent or P143.91 million.

Clarete said majority of the investments in Bukidnon

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include the construction of an industrial building and storage facility, expansion of agri-based production of cassava, corn, tomato and cut flower, expansion of shoes production, construction of pump stations for banana production and infusion of capital on livestock.

He added that the bulk of investments in Misamis Occidental and Lanao del Norte were derived from the infrastructure and servicing sector that included the expansion of a subdivision project, construction of a new commercial building and the procurement of additional machines and equipment for Misamis Occidental while

that in Lanao del Norte were the renovation of a hotel and resort, expansion of a flour production area, construction of a new commercial building and establishment of food chains and grocery stores.

Meanwhile, investments in Camiguin were mostly One Town, One Product-related projects and monitored bank releases.

A decrease of 87 percent was also noted for Misamis Oriental brought about by the decrease in investment in the infrastructure and servicing sector.

Clarete said majority of the investments in the province were the construction and expansion of Centrio Ayala Mall, Primavera residences, Paseo del Rio, Bavarian Motor Works (BMW) showroom and Gaisano Department Stores which are already operating this year.

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Motoring

BMW launches innovative ownership program DREAMS can turn into reality as Asian Carmakers Corp. (ACC), the exclusive importer and distributor of BMW cars in the country, recently launched its newest FlexiLease program in which customers can experience the sheer driving pleasure of BMW cars.

The FlexiLease program is the newest innovation in BMW ownership that add resses t he mobi l it y requirements of top professionals.

According to Maricar Parco, president of ACC, “As a way of sharing the success we’ve had for the past 10 years in the local market, we are introducing FlexiLease as an additional option for Filipinos to experience the BMW brand.”

Parco said, “We have par tnered w it h Asia United Fleet management Services Inc (AUFMS). This alternative program offers attractive benefits such as

low deposit, low monthly fees, and an easy way to upgrade a new BMW when new models are introduced.”

How to avail CUSTOMERS need to pay a refundable 10-percent guarantee deposit as well as one month cash advance for the rental fee. The low deposit serves to free up other funds that can be used for other expenses. In addition, since there is no purchase involved on the part of the customer, there is no need to pay for chattel mortgage.

They can choose between 24or 36-month lease terms, but can withdraw anytime at a certain cost if the customer

Motoring Briefly Volvo V40

THE ALL-NEW Volvo V40 is now in the Philippines. This fivedoor, five-seater luxury hatchback, offered at an introductory price of P2.28 million, combines trendsetting design with class-leading driving dynamics. A wide shoulder line stretches back from the headlamp with a sharp line to echo the rising beltline. As it reaches the end of the rear door, it sweeps up into an integrated “hook”, inherited from the legendary P1800.

The roof silhouette contributes to the impression of a car leaning forward -- eager to take off. The car is finished with a dynamically sculpted rear to further emphasize its width and muscular stance and with the lower area “blacked out”, further creating an athletic, low and wide look.

Honda Greenhills

HONDA CARS Philippines, Inc. (HCPI) recently broke ground in Greenhills, San Juan for the newest addition to the growing number of Honda dealerships and following its commitment to bring quality products and services closer to its customers.

Honda Cars Greenhills, with a land area of 2,500 sq.m., will rise at Ortigas Ave. cor. Columbus St., Mandaluyong City (across the La Salle Greenhills campus). The dealership will offer the full Honda product line-up as well as vehicle related services to customers residing in the area.

Hyundai Jet Service

HYUNDAI ASIA Resources, Inc. (HARI) on Monday launched a new and improved Jet Service Premium, which is now available at the following dealerships: Abad Santos, Alabang Muntinlupa, Balintawak, Biñan Laguna, Cabanatuan, Cagayan de Oro, Cebu, Central EDSA, Commonwealth Avenue, Dagupan, Global City, Greenhills, Las Piñas, Marcos Highway, North EDSA, Pasig City, Quezon Avenue, Santiago City, Shaw Boulevard, Southern Mindanao, and Sucat Road. The service will soon be available at all 41 Hyundai dealerships nationwide. “You get the best quality car care possible in 60 minutes, max,” HARI President and CEO Ma. Fe Perez-Agudo said at the launch.

wishes to end the contract.

At the end of the lease term, the customer can return the car and use the deposit to begin a new lease term for another brand-new BMW, renew the lease contract for another term or simply end the lease term and return the car.

“We believe that this is the right time to consider Flex i L ea se. Aside f rom designing this program for top Filipino professionals, we’re also very optimistic on the Philippine economy.

With the recent upgrade of the country’s sovereign debt rating, we anticipate an influx of investors and their expatriate staff. FlexiLease is a program which we believe is very suitable for them,” Parco shared.

“In ACC, we are always f i nd i n g w ay s to m a k e BMW/PAGE 11

Honda bares safety recall THE g loba l automot ive landscape continues to be rocked by widespread safety recalls, and the aftershocks are being felt even in the Philippines.

Honda Cars Philippines Inc. (HCPI) has announced a voluntary recall of some 9,743 units of the seventhgeneration Honda Civic year models 2001 to 2002 and the second-generation CR-V sold in 2001 to 2002 due to a faulty inflation device of the front passenger airbag.

The Japanese carmaker’s findings show that during manufacturing process, the automatic rejection system machine failed to detect defective airbag inf lators with low-density propellants.

As a result, the pressure increases excessively and might cause the inflator case to rupture during airbag deployment. The defective airbag modules were sourced from Takata, one of the world’s biggest suppliers of airbags.

An estimated 1,142,000 Honda/PAGE 11

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

Gov’t projects ‘credited’ to candidates disallowed THIS is the season for electioneering. The pre-election period campaign bans are over, so it’s a political kaleidoscope –all tarped, posterized, sung as jingles– across Philippine communities.

BAWAL ANG EPAL . Government programs, such as the Pantawid Pamilya program, have been temporarily suspended to avoid being used by politicians for politicking and credit-grabbing given the ongoing campaign for national and local elective positions. photo courtesy of dswd

DOLE-12 to put up advocacy corners in schools

By Allen V. Estabillo

GENERAL SANTOS CITY — In a bid to promote better awareness among students regarding its programs, the Department of Labor and Employ ment (DOLE) in Region 12 is set to establish advocacy corners in various schools in the region.

Ofelia Domingo, DOLE12 regional director, said Tuesday they are set to sign an agreement on with the Department of Education (DepEd) and the Commission on Higher Education (CHED) in Region 12 to facilitate the opening of the advocacy corners.

She said the advocacy corners will mainly feature e s s e nt i a l i n for m at ion ,

highlights and updates on major programs, services and advocacies of DOLE and its attached agencies.

“We’re looking at building awareness this early among st udents rega rd i ng ou r initiatives and guide them when they need our services later on,” Domingo said.

The of f icia l said t he advocacy corners will be est abl ished i n it ia l ly i n selected secondary schools, tech n ic a l-voc at iona l institutions, colleges and universities in parts of the region.

Region 12 comprises the provinces of South Cotabato, Sultan Kudarat, Sarangani a nd Nor t h Cotabato as

well as the cities of General Santos, Koronadal, Tacurong, Kidapawan and Cotabato.

She said they will be ma i nt a i ned by DOL E’s at t ac he d a genc ie s t hat comprise its reg iona l coordinating council (RCC).

The RCC is a cluster of DOLE’s attached agencies composed of the National Conciliation and Mediation Board, Overseas Workers’ Welfare Agency, Philippine O v e r s e a s E m p l o y m e nt Administration, National Labor Relations Commission, Professiona l Reg u lator y C om m i s s ion , R e g ion a l Tr i p a r t i t e Wa g e s a n d Productiv it y Board and

But some things else were banned.

Politicians have been b a n n e d i n t h e u s e of gover n ment prog r a m s , including those run locally, as electoral showcases by candidates. In local Filipino political parlance, epal (from the root Tagalog word papel —as a verb, mapapel— to imply that somebody grabs the credit for personal gains) cannot be done anymore with government programs.

J u s t r e c e n t l y, t h e Department of Social Welfare and Development (DSWD) suspended for two months the implementation of the Pantawid Pamilya program as part of its “Bawal Ang Epa l ” (Cred it-g rabbi ng politicians are disallowed) campaign. Pantawid is the government’s conditional cash transfer program to benefit the country’s poorest households, who will get some cash assistance in exchange for, say, visiting the health center by the mother of the household.

S o c i a l We l f a r e a n d Development Secret a r y Corazon “Dinky” Soliman s a id t he d e p a r t m e nt ’s campaign aims to raise t he Fi l ipi nos’ pol it ic a l awareness amid reports that some government officials are threatening Pantawid Pamilya beneficiaries to be delisted from the program if these beneficiaries do not support them in the elections.

Soliman said the campaign has already generated positive results in some areas where

politicians have already began removing their faces on posters promoting the 4Ps program.

“Ma la k i a ng na g i ng epekto sa ating mga pulitiko sapagkat ngayon mapagbantay ang mamamayan (This anti-epal campaign affected politicians, especially since citizens are now watching over them),” the DSWD chief said.

Even before the start of the local elections campaign last March 30, DSWD was already monitoring candidates who were reportedly using its programs to boost their campaign. One of which was a senatorial bet from Tea m PNoy who, si nce October 2012, had broadcast commercials orial candidate ls on the National Household Targeting System for Poverty Reduction (NHTS-PR), the DSWD’s means to precisely identify the country’s poorest households.

Though the senatorial candidate had already pulled out those commercials, those advertisements said that this advisory was in coordination with DSWD, the Philippine Hea lth Insurance Corp.

(Ph i l He a l t h), a n d t h e senatorial candidate’s office.

Over at the Department of Labor and Employment (DOLE), the agency’s media chief Nicon Fa meronag warned politicians not use to use job fairs for politicking, especially since Labor Day is coming up.

Fameronag said politicians must spare from

using government projects and services, like job fairs, organized by DOLE and the various public employment service offices (PESOs) for their campaign.

Though, DOLE or its attached agency the Bureau of Local Employment (BLE) has yet to receive cases of polit ick ing. But if ever these candidates try to use any of DOLE projects like job fairs to put up their parapherna lia, t hen t he agency will “immediately take action to stop them,” Fameronag said.

Fameronag says though: “We won’t be halting any projects. DOLE’s operations will continue in mid of the election season.”

Un l i k e D S W D t h a t temporarily suspended the Pantawid Pamilya program for t wo mont hs, DOLE won’t halt any of its existing services that may be used for electioneering, Famoeronag said.

T he latest moves by DSWD and DOLE had been preceded earlier by the policy pronouncements of agencies such as the Department of Public Works and Highways and the Commission on Audit.

D P W H ’s a n t i - e p a l measure is the removal of illega lly-placed election paraphernalia to the agency’s field offices nationwide. This is a result of Resolution 9598 of the Commission on Elections (Comelec), ordering the DPWH to remove electoral projects/PAGE 11

MILF chair to candidates: ‘You can come and talk to our people’

By Carolyn O. Arguillas

DA R A PA NA N, Su lt a n Kud a r at — T he cha i r o f t h e Mo r o I s l a m i c Liberation Front (MILF) said candidates running for elective posts on May 13 “can come and talk to our people” but the MILF stand has not changed: “we will not participate, but we will not prevent people to participate.”

“If they want to vote, they can vote,” MILF chair Al Haj Murad Ebrahim told a press conference at the launching Monday noon of the Facility for Advisory Suppor t for Transition Capacities (FASTR AC), a three-year program in partnership with the United Nations and the World Bank.

A long t he t hreekilometer stretch from the highway to the Moro Islamic Liberation Front’s main gate, posters of candidates lined the roadside, many

of them posted on coconut trunks.

There were no posters of national candidates (for senators), just regional (for the Autonomous Region in Muslim Mindanao or ARMM) and local (for Maguindanao).

Most of the posters were from the team of Datu Tucao Mastura and Ali Midtimbang, candidates of the United Nationalist A l l i a nc e (U NA) for governor and vice governor of Ma g u i nd a nao, a nd Mastura’s nephew, Vice Governor Ismael Mastura who is now running for ARMM Assemblyman.

The elder Mastura is mayor of Sultan Kudarat town where the MILF camp is based, Midtimbang is former Talayan mayor.

Mayor Mastura is a brother of MILF senior peace pa nel member Milf/PAGE 7

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Banking&Finance 5 cuts unlikely Banks boost capital buffer Rate to cut SDA levels CREDIBLE

year before.

The central bank requires a CAR of only 10%, while the international norm is even lower at 8%.

“The increase in the CAR was caused largely by the increase in the qualifying capital of universal and commercial banks in the third quarter,” BSP Governor Amando M. Tetangco, Jr. told reporters late last Tuesday.

Banks retained t heir earnings and issued common shares to beef up t heir capitalization, he explained.

The qualifying capital of universal and commercial banks amounted to P813.5 billion as of September 2012.

Including their subsidiary banks and quasi-banks, the capital totaled P951.2 billion.

MONEY IS EXPECTED to stay put in the Bangko Sentral ng Pilipinas’ (BSP) special deposit accounts (SDA) despite three consecutive interest rate cuts, which industry officials said could prompt f resh moneta r y action.

“Most likely, a marginal exit from SDAs may happen, but it will not be substantial.

SDA levels continued to grow despite the previous cuts in SDA rates,” Bankers Association of the Philippines

BSP Gov. Amando M. Tetangco, Jr.

Risk-weighted assets also increased as of the third quarter last year as banks expanded their trading book positions.

They were at P4.532 trillion on a solo basis and P5.005 trillion on a consolidated basis during the said period.

Mr. Tetangco also noted that bulk of the capitalization

of universal and commercial banks consisted of Tier 1 capital, considered the safest, most liquid and most lossabsorbent.

Tier 1 capital comprised 15.52% and 15.59% of riskweighted assets as of the third quarter of last year on a solo and consolidated basis, respectively.

US dollar under pressure after Fed meeting TOKYO - The dollar was under pressure in Asian trading Thursday after the US Federal Reserve opted to keep its easymoney policies in place on the back of lacklustre economic data.

After wrapping up a policy meeting Wednesday, the US central bank said it would keep its $85 billion a mont h bond-buy i ng programme in place, and left open the door to more purchases if the world’s biggest economy slowed under Washington’s severe budget cuts.

The Fed policy, known as quantitative easing, is a imed at keeping downward pressure on longer-term interest rates, supporting mortgage and credit markets. Central bank easing tends to put pressure on a nationa l currency.

T he dol l a r s l ipp e d to 97.35 yen in morning Tokyo trade Thursday from 97.40 yen in New York Wednesday afternoon.

The greenback ’s rise stalled last week just short of the 100-yen mark which it last hit four years ago,

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U N I V E R SA L a nd c om merc i a l b a n k s strengthened their capital buffers as of the third quarter of 2012, bringing levels to a sixyear high, according to a top official of the Bangko Sentral ng Pilipinas (BSP).

The capital adequacy ratios (CAR) of universal and commercial banks averaged 17.95% as of September 2012.

Including their subsidiary banks and quasi-banks, the industry’s CAR hit an average of 19.01%.

The CAR measures banks’ capital against their risks and is the main indicator of financial health. Adequate capital means that banks have enough buffers against shocks.

The latest ratios were the best since June 2007, when they hit 17.9% on a solo basis and 19.4% on a consolidated basis. They were also a steady improvement from the 16.87% and 17.96% posted in the second quarter of 2012 and the 16.35% and 17.43% the

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as manufacturing and jobs data painted a worrying picture of the US economy.

Tr a d e r s a r e a l s o c onc er ne d by of f ic ia l f i g u re s s how i n g t h at eurozone unemployment hit a fresh record of 12.1 percent in March, while ratings agency Moody’s downgraded Slovenia by two notches to junk status -- with a negative outlook -- warning it might need a bailout.

The euro also eased in Asia on Thursday to 128.30 yen from 128.37 yen while holding steady at $1.3179

against $1.3180 in US trade ahead of a policy meeting of the European Central Bank (ECB).

ECB policymakers are to meet Thursday with widespread speculation that they could cut interest rates from current record lows and also unveil new measures to k ick-star t stymied bank lending.

M a r k e t s we re a l s o keeping an eye on t he state of t he Chinese economy after fresh data Wednesday pointed to a slight slowdown in April manufacturing activity.

President Lorenzo V. Tan said.

SDA deposits ballooned to P1.983 trillion as of April 12, a sharp increase from the P1.7 trillion at the start of this year and notching its highest level yet in 2013. Investors continue to park their money in the facility even as the Monetary Board slashed rates by 50 basis points (bps) each in January, March and April.

SDA deposits now earn just 2% across all tenors, a steep cuts/PAGE 7

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NELSON CONSTANTINO Editor-in-Chief

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Associate Editor

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Online editor

Regional Editor

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

Discard the pretentious candidates

A

N election season always exposes the incompetence ris iaz of the government.

It is a time when candidates deliver a litany of promises.

Promises that candidates simply forget when elected to office. Anything new?

However, what ma kes the election important is seeing candidates running for reelection.

These candidates mumble the same platform of government.

These candidates bolster the people’s belief that these candidates had made the government irrelevant and inutile.

For instance, those running for reelection talked about improved basic services in government.

As usual, these services involved health, education, poverty, and employment.

The electorates simply wonder what these people had accomplished when they were in office.

For instance, a candidate running for reelection has been in Congress for two consecutive terms and yet achieved nothing of value.

The Congress has the Upper and Lower Houses – the Senate and the House of Representatives.

The candidates talked about free education, free health services, and employment as their major platforms of government.

Have these candidates not been in office before?

Why talked only these issues when election season comes? What have these candidates done in Congress?

For instance, there are candidates who are now running for the Senate after serving in the House of Representatives.

It is unfortunate that these candidates talked about improved basic services once elected into office.

Obviously, these candidates accomplished nothing as representatives.

It is very disgusting albeit frustrating that almost all candidates that poverty and inadequate health services only become noticeable as a “problem” when election season comes.

It is discouraging to think that almost all candidates are diaz/PAGE 7

C

D

Complain or change

hink a minute…A young woman named Cherie was telling about her childhood. Both her parents worked outside of their home from the time she was a very young girl.

Her mother was an actress and was only interested in her own career and selfish ambition, so she spent very little time with her kids.

Even when she wasn’t working she was away from home socializing with her friends.

Cherie and her brother were left alone everyday, so they got into trouble at a very young age.

Their parents finally divorced and her dad remarried.

Cherie was a teenager when she overdosed on drugs and almost died.

The next day her stepmother, who was very loving and wise, said this to her: “Cherie, how long are you going to use your past as an excuse for your life now? You can continue hating yourself and blaming others for the way you are, or, you can choose to change.”

Well, as a teenage girl Cherie chose to change.

After finishing her education, she started her own business and now she travels across her nation as a public speaker to teenage kids, talking to them about their life choices.

One person said: “Little people with little hearts live

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their life in little ruts, refusing to change anything in their A Minute little world.”

By Jhan Tiafau Hurst So when things are not the way we think they should be, we have two choices: we can keep complaining about them, or start changing them.

A wise man said: “Stop complaining about what you have allowed.” It’s kind of like the old saying, “Put up or shut up.”

In other words, either do something to help change and improve the situation, or stop complaining about it.

We can “light a candle or curse the darkness.” God is just waiting for you to ask for His help to change your dark situation.

But Jesus Christ can’t help you until you ask Him to take charge of your life everyday.

If you keep shutting out His light and love, then your life will just stay as it is. Remember, “If things don’t change, they’ll stay the same.” It’s your choice.

Just Think a Minute…

THINK

Living with God

B

EFORE we dismiss the idea as being outlandish, outrageous or whatever, we just have to remind ourselves that we are meant to live our life with God. And this is not only in heaven, our definitive state in eternity, but right here and now.

No matter from what angle we look at the issue, even if we take the atheist view, we cannot escape from the reality that our life, in its utter objectivity, not minding first our subjectivity, is a life with God. And that’s simply because God is the one giving us our very existence. And precisely because it is existence that he gives us, he cannot but be the one also to keep and maintain it, otherwise, if he withdraws from us, then we would cease to exist.

For sure, our existence does not depend solely on the food we eat, the water we drink, the good health and other things that we may enjoy. They contribute, of course, but it is God who is first of all responsible for our existence.

With this clarification, we overcome what may be referred to as the deistic bias which considers God only as Creator, giving us our existence at the start of our life, but leaving us alone after that.

And so he is always in us as he is also in all other creatures and things. That is why we say God is everywhere. He is omnipresent. And if that is so, then he is also in each one of us.

Except that in our case, his presence in us is not meant to be simply passive or inert. It is an active presence that corresponds to our nature as a person endowed with the power to know, to be free and responsible, to choose, to love, etc.

In short, we are supposed to correspond to that presence by at least being aware of him and then start developing a relationship that reflects all the aspects of our life—personal, spiritual, social, material, professional, economic, political,

HINTS

etc.

This is where we have and Traces to c u lt ivate t he sk i l l of

By Fr. Roy Cimagala recognizing his presence wherever we are. We need to cultivate this skill, exerting the appropriate effort for it, because being aware of his presence does not come to us automatically.

God is spiritual, and more than that is supernatural, infinitely above our nature.

Nothing in our human natural powers would enable us to detect his presence without his grace, his sharing of what he has with us.

God takes the initiative first. St. Augustine expressed this truth well when he said, “God created us without us.”

And he continued by saying, “But God cannot save us (or cannot perfect us) without us.”

In other words, while God gives us always this grace, a truth that is abundantly proven in God sending his Son to us, and this Son, Jesus Christ, both God and man, accomplished his redemptive mission by offering his life on the cross, we on our part need to marshall everything that we have to engage ourselves with him.

That is why we need to exert effort to at least be aware of his presence. We have to find ways for this purpose in all situations and circumstances of our life—when we are alone or with others, when we are working or resting, when we are with the family at home or with friends outside, when we are in a trip, in a hotel room alone, etc.

Each of these situations calls for an appropriate plan cimagala/PAGE 7

Inspiring stories

I

n celebration of Metrobank’s 50th anniversary, the Metrobank Foundation recently launched three coffeetable books that highlight the best of the Filipino.

The three books are “MADE of Gold,” “10 Outstanding Filipino Teachers,” and “Metrobank Foundation Exemplars.”

“Metrobank Foundation Exemplars” features 15 inspiring stories of awardees of the Foundation’s recognition programs — the Search for Outstanding Teachers (SOT), the Country’s Outstanding Police Officers in Service (COPS), The Outstanding Philippine Soldiers (TOPS), Metrobank Art & Design Excellence (MADE), and Search for Outstanding Journalists.

Dr. Queena N. Lee-Chua, 2003 Metrobank Foundation Outstanding Teacher, wrote this notable collection of profiles.

Acclaimed writer and art critic Cid Reyes documented the significance of the Metrobank Art & Design Excellence (MADE) in the Philippine art scene and its involvement in uplifting culture and art as catalysts of nation building in the coffee-table book, “MADE of Gold.”

The 252-page book presents—in full color—winning artworks and designs since 1984. These include 140 paintings, 12 sculptures, seven Metrobank Prize for Achievement in Sculpture (MPAS) awardees, 13 interior designers, and six architects.

Selected artworks featured in the book were exhibited

SPEAKING

at the second floor of Vicente Manansala hallway and at O ut the Little Theater lobby of

By Ignacio Bunye the Cultural Center of the Philippines until April 14, 2013.

Now on its second volume, the “10 Outstanding Filipino Teachers” documents the journey and the legacy of ten Metrobank Foundation Search for Outstanding Teachers (SOT) awardees.

Written by 2003 Metrobank Fou ndat ion Outsta nd i ng Teacher Dr. Jaime An Lim, the book pays tribute to everyday heroes in education. It also features the teachers’ background, best practices and legacies.

The first volume of “10 Outstanding Filipino Teachers,” written by Dr. Lee-Chua, was a finalist in the 2005 National Book Awards of the Manila Critics Circle.

“Metrobank Foundation takes part in building the community and the nation as it rewards excellence in people and institutions,” retired Chief Justice Artemio V. Panganiban said in his message. bunye/PAGE 7

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Cuts... from page 5

drop from 3.5% previously.

“SDA levels will most likely remain high since there is a lack of investment out lets,” BDO Unibank, Inc. chief market strategist Jonathan L. Ravelas said.

The stock market may promise significantly better returns but SDA investors may not have t he r isk appetite, he added.

The instruments that could appeal to SDA investors are government securities but y ields here low too, BDO Capital & Investment Corp. President Eduardo V. Francisco said.

“So unless there is a big difference, people will still invest in SDAs as there is little incentive to go long and tie up funds,” he added.

The central bank has been focusing on SDAs this year, seeking to push out money into the economy where it can spur growth.

The “ billion-peso question,” though, is when t he SDA rate cuts w i l l actually start to have an effect, Metropolitan Bank & Trust Co. (Metrobank) research head Ildemarc C. Bautista said.

According to market players, the central bank could take rates down anew given tame inf lation. The rise in consumer prices averaged 3.2% as of March, well within the 3-5% target, and is expected to ease to 2.2-3.1% in April.

“We continue to forecast another 50-bps cut in SDA rates to 1.50% at the next Monetary Board meeting, but there is a rising risk that BSP could do more from there,” Nomura economist Euben Paracuelles said.

Metrobank’s Mr. Bautista forecast that rates could go as low as 1%, depending on the impact of the previous

cuts and the inf lationary pressures created by the elections.

The Monetary Board -the BSP’s policy-making body -- will discuss policy anew on June 13.

Diaz... from page 6

agreeable that commercialized education and malignant unemployment problems breeds an impoverished nation when election season comes.

While acknowledging t he lack or i nadequ ate extension of basic services to the impoverished masses, candidates remember only this predicament during the election campaign period.

This means that those elected into office simply attend to the needs of their pockets while serving their term of office.

Although it might sound preposterous, it is of public knowledge that most elected of f icia ls become “si lent millionaires” after serving their terms.

The electorates know that there are exceptional elected public servants.

It is, however, sad that the electorates always elect the hypocrites and pretenders at the expense of well-meaning candidates.

More often, the electorates the well-oiled machinery of deception employed by politicians who lean on the corridors of power threatens the electorates.

Consequently, the electors should struggle to ward off opportunistic candidates whose intentions manifest during the election period.

Reac t cr isg ua rd ia n@ yahoo.com

Bunye... from page 6

“Indeed, excellence is both the Foundation’s beacon a nd a nchor. Metroba nk

Foundation has chosen top awardees whose life and career it proclaims and honors in these books. They are the best of the best of Metrobank Foundation’s search for excellence among our people,” he added.

Since its establishment in 1979, t he Metrobank Foundation has sought to promote and foster the values of excellence and achievement among Filipinos.

“In its commitment to make a difference in the lives of its chosen stakeholders and contribute to nationbuilding, the programs of the Foundation have always endeavored to encourage a nd rewa rd ind iv idua ls and organizations to be the best they can be, and in the process, inspire the rest to similarly strive for the highest standards of performance of conduct in their respective professions,” Met roba n k Fou nd at ion Aniceto Sobrepeña stressed.

Cimagala... from page 6

and strategy, since many are the factors to be considered.

We need to develop a certain discipline, since we tend to be held captive only by our human and worldly appetites, and we find it hard to be spiritual.

We have to make many acts of faith to crank up our spiritual energies and enter into the spiritual and supernatura l world. For this, we need to find time to consider and savor the doctrine of our faith that would feed our prayer and spiritual activities.

Besides, we have to do this not only in some special moments of the day, but rather all the time, in all the circumstances of our life.

Thus, we need to find ways of being in God’s presence in every moment of the day in a natural way.

Like when things are goi ng wel l or when we have problems, when we are studying or doing some manual, even menial work, when we a re usi ng t he internet, when we do business or politics, etc.

We have to learn to live with God always!

MILF... from page 4

Michael Mastura, father of Ismael.

Posters of AR MM g u b e r n at or i a l b e t P a x M a n g u d a d at u a n d h i s r u n n i n g m at e B a s h i e r Dimalaang Manalao were also visible.

Mangudadatu, former governor of Sultan Kuda rat prov ince, is a n u ncle of i ncu mbent Mag u i nd a nao gover nor Esmael Mangudadatu of the Liberal Party while Manalao is former governor of Lanao del Sur. A few posters of t he first district congressional candidates – reelectionist Bai Sandra Sema (Liberal Party) and Baisendig Dilangalen (I nd), we re a l s o s e e n .

Russman Sinsuat, Jr. who is running for provincial board member under the Liberal Party also had some campaign materials.

There were no posters of reelectionist governor Mangudadatu and the ruling party’s candidate for ARMM governor, Mujiv Hataman and his running mate, Alrashid Lucman although Hataman has reportedly been endorsed by both Mastura and Esmael Mangudadatu.

B ot h c a nd id ate s for Mag u i nd a nao gover nor have repeatedly committed t heir suppor t to t he Framework Agreement on the Bangsamoro, which the government and MILF peace panels signed on October 15, 2012. “ T he M I L F h a s not

changed its official policy of non-involvement in the ongoing electoral process,” Murad said, adding this has been “the policy of the MILF since the very beginning.”

“We will not participate in the electoral process but then we will not also prevent the people to participate.”

Murad clarified that ‘it is only the MILF officials who are prevented from participating (in the elections).

“Now at this point in time you’d notice that when you enter Camp Darapanan, you will notice there are so many posters of candidates (along) the route. This is not a violation of the policy. We do not see it as a violation of the policy. We do not see also as a violation of the policy for candidates to come and talk to our people because as I have said, we are not preventing them. If they want to vote, they can vote. Only some officers are prevented from voting,” Murad said.

He acknowledged that there are candidates “coming

7

to Darapanan to talk to our people” but did not name them. But he reiterated that the MILF’s policy on the elections has not changed.

“The policy remains as is,” he said.

When a reporter asked if it is true that the MILF would hold a “proclamation rally” in Shariff Aguak town on May 5, allegedly to announce the candidates they would support, Murad replied there is no such rally.

“That is not true. There is no proclamation rally of the MILF because we are not participating in the elections.

So there is no truth to the information that there will be a proclamation rally on May 5. We are not a party to that. The MILF is not a party to that,” he said .

Asked if there was an MILF activity in Shariff Aguak on May 5, Murad replied t heir prov incia l committee may have “but it is not related to t he political exercise.” (Carolyn O. Arguillas/MindaNews)

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Republic of the Philippines PROVINCE OF BUKIDNON City of Malaybalay OFFICE OF THE SANGGUNIANG PANLALAWIGAN EXCERPTS FROM THE MINUTES OF THE 12TH REGULAR SESSION OF THE 11TH SANGGUNIANG PANLALAWIGAN, PROVINCE OF BUKIDNON, HELD ON MONDAY, MARCH 25, 2013 AT THE SANGGUNIANG PANLALAWIGAN SESSION HALL, MALAYBALAY CITY, BUKIDNON. PRESENT: Hon. ALFEO U. BAGUIO, Board Member/Temp. Presiding Officer Hon. JAY S. ALBARECE, Board Member Hon. NEMESIO B. BELTRAN, JR., Board Member/Floor Leader Hon. ROELITO A. GAWILAN, Board Member (Ex-Officio-rep. FABC) Hon. MAGDALINO C. PANDIAN, Board Member (Ex-Officio-rep. IPs) Hon. RANULFO E. PEPITO, Board Member Hon. RAIZA ANGELIQUE D. PORMINAL, Board Member (Ex-Officio-rep. SK) Hon. CLIVE D. QUIÑO, Board Member Hon. GORDON M. TORRES, Board Member

ABSENT : Hon. JOSE MA. R. ZUBIRI, JR. Provincial Vice Governor-on O.B. Hon. RENATO C. CENTILLAS, Board Member – on O.B. Hon. ROLAND F. DETICIO, Board Member (Ex-Officio-rep. PCL)- on O.B. Hon. MANUEL L. DINLAYAN, Board Member – on O.B. Hon. MARIVIC R. MONTESCLAROS, Board Member – on O.B. ORDINANCE NO. 2013-082R(11th SP) (12th Regular Session) AN ORDINANCE AMENDING PROVINCIAL ORDINANCE NO. 95-03, ENTITLED: “AN ORDINANCE CREATING THE BUKIDNON INVESTMENTS AND EXPORT PROMOTION BOARD AND GRANTING INCENTIVES TO INVESTORS AND NEW INVESTMENTS IN THE PROVINCE OF BUKIDNON”, AND FOR OTHER PURPOSES Sponsored by:

Hon. Nemesio B. Beltran, Jr. Hon. Jose Ma. R. Zubiri, Jr.

c.) After due notice, recommend to the Board cancellation or suspension of the registration and the enjoyment of incentives or benefits of any registered enterprise for (1) failure to maintain the qualifications required by this Code for registration with the Board, or (2) for violation of any provisions of this code, of the rules and regulations issued under this Code, of the terms and conditions of registration; d.) Perform any other functions that may be directed by the board.

SECTION 15. Remuneration of the Board and EXECOM. Members of the Board and EXECOM shall be entitled to receive honoraria in their attendance to Board and EXECOM meetings at a rate not to exceed the amount of One Thousand (1,000.00) pesos per meeting and said honoraria shall be paid for from appropriate funds of the Provincial Government.

SECTION 16. Creation of the Bukidnon Investment and Export Promotion Center (BIEPC). The Bukidnon Investment and Export Promotion Center hereinafter referred to as BIEPC shall be headed by a Center Manager with two (2) technical staff and two (2) administrative support staff. The Center will serve as the Secretariat of the Board and the support staff of the EXECOM. In addition, BIEPC shall have the following duties and functions: (a) Undertake pro-active market development and investment & export promotion activities; (b) Serve as one-stop processing and approval center for existing and potential investors and enterprises; (c) Assist in (1) securing licenses and permits, (2) arranging for the availment of local and national government incentives, and (3) identifying business or joint venture partners, raw material suppliers, possible business sites and other requirements of existing and potential investors and enterprises; (d) Establish and maintain data bank on general business information, information on economic activities, available technology, financing sources and other relevant data or information; (e) Network with counterpart investment promotion organizations and coordinate with support agencies of government and the private sector in investment promotions efforts; (f) Build the competence of BIEPC staff to conduct investment and environmental management promotion functions. (g) Provide information on investment opportunities, business procedures, permit requirements, government regulations and other data required by the investor; (h) Assist investors in completing the requirements of government regulatory agencies; (i) Make referrals to relevant government bodies, support organizations, service providers and important contacts; (j) Organize appointments, itineraries and site visits including facilitating arrangements for logistical support; (k) Provide updates regarding major infrastructure projects in the province both existing and planned, as well as other programs and developments that will impact the business environment; (l) Undertake an active advocacy campaign to push infrastructure programs aimed at providing necessary facilities, as well as policy reforms to enhance Bukidnon’s investment climate.

SECTION 17. Funding - The Provincial Government shall appropriate annually the sum of FIVE MILLION PESOS (P5,000,000.00) to defray the expenses of the Board, subject to the usual accounting and auditing rules and regulations.

CHAPTER IV PREFERRED AREA OF INVESTMENT

&

Members of 11th SP Province of Bukidnon EXPLANATORY NOTE

The Sangguniang Panlalawigan of the Province of Bukidnon enacted Ordinance No. 95-03, in 1995, creating the Bukidnon Investments and Exports Board and granting incentives to investors and new investments in the Province of Bukidnon, otherwise known as the “1995 Omnibus Investment Code”.

Admittedly, the said investment code now needs amendments to make it attuned to the changing times.

Along this line, the Bukidnon Investment and Export Promotion Board (BIEPB) has initiated proposed amendments or revisions of the Code since 2011.

Series of trainings and consultative meetings were done by the 22 Local Economic and Investment Promotions Officers from the two cities and 20 towns of Bukidnon, with the technical working group of the BIEPB.

Sometime on February 26, 2013, the BIEPB, chaired by the Provincial Governor, evaluated and approved the output of the 22 Local Economic Investment Promotion Officers and the BIEPB-TWG, for submission to the Sangguniang Panlalawigan, for its consideration and approval.

NOW, THEREFORE, on motion of Hon. Nemesio B. Beltran, Jr. and with the unanimous accord of the Members present, assembled in session:

BE IT ORDAINED, by the Honorable Sangguniang Panlalawigan of Bukidnon, this 25th day of March, in the Year of Our Lord, Two Thousand Thirteen, that: CHAPTER I TITLE AND DECLARATION OF POLICY

SECTION 1. Short Title - This Ordinance shall be known and cited as the Bukidnon Investment and Incentive Code of 2013.

SECTION 2. Declaration of Policy - To accelerate the sound development of the Province of Bukidnon in accordance with the 2010-2016 Medium Term Philippine Development Plan (MTPDP), it is hereby declared to be the policy of the Province of Bukidnon to pursue an environmentally acceptable, sustainable and equitable growth by encouraging investments, both domestic and foreign in primary agriculture, forestry, manufacturing, services, metallic and non-metallic mineral mining, trade and tourism related activities and export of processed and semi-processed products which will utilize substantial amount of raw materials and natural resources of the province, provide employment opportunities, raise the standard of living of the people of Bukidnon and provide for an equitable distribution of wealth.

CHAPTER II DEFINITION OF TERMS

SECTION 3. Board shall mean the Bukidnon Investment and Export Promotion Board created under this Code.

SECTION 4. Bukidnon Investment Grid (BIG) shall mean the strip of land covering three (3) kilometers from each side of the National Sayre Highway from Manolo Fortich to Damulog and the provincial road from Manolo Fortich to Libona and Don Carlos to Kadingilan, and to national road from Maramag to Quezon, from Maramag to Kalilangan, from Valencia to San Fernando, from Malaybalay to Cabanglasan, from Malaybalay to Lantapan, from Talakag to Baungon, and from Malitbog to Bukidnon boundary leading to Tagoloan, (Misamis Oriental).

SECTION 5. Bukidnon Investment Priorities (BIP). All municipalities and cities within the Bukidnon Investment Grid (BIG) can be included in the list of Bukidnon Investment Priorities (BIP), provided they complied with the following requirements:

1.1 Complementing Investment Incentive Ordinance.

a) Granting Tax Incentives to Investors

b) City/Municipal Zoning Ordinance

c) Licensing and Services

1.2

Other support services within their jurisdiction.

SECTION 6. Bukidnon Registered Business Enterprise (BRBE) shall mean any individual, partnership, cooperative, corporation or other entity incorporated and/or organized and existing under Philippine Laws, and registered with the Board in accordance with the provisions of this Code; provided however, that the term “Bukidnon Registered Enterprise” shall not include commercial banks, savings and mortgage banks, rural banks, savings and loans associations, development banks, trust companies, investment banks, finance companies, brokers and dealers in securities, consumer cooperatives and credit unions, and other business organizations whose principal purpose or principal source of income is to receive deposits, lend or borrow money, buy and sell or otherwise deal, trade or invest in common or preferred stocks, debentures, bond or other marketable instruments generally recognized as securities or discharge other similar intermediary, trust or fiduciary functions.

SECTION 7. Land Banking shall mean the setting aside of at least fifteen (15) hectares of contiguous land for commercial and industrial use in a particular city/municipality in the province.

SECTION 8. Philippine National shall mean a citizen of the Philippines or a domestic partnership or association wholly-owned by citizens of the Philippines; or a corporation organized under the laws of the Philippines, of which at least sixty percent (60%) of the capital stock outstanding and entitled to vote is owned and held by citizens of the Philippines; or a trustee of funds for pension or other employee retirement or separation benefits, where the trustee is a Philippine national and at least 60% of the fund will accrue to the benefit of the Philippine nationals; provided, that where a corporation and its non-Filipino stock holders own stock in a registered enterprise, at least sixty (60%) of the capital stock outstanding and entitled to vote both corporations must be owned and held by the citizens of the Philippines and at least sixty percent (60%) of the members of the board of directors of both corporations must be citizens of the Philippines in order that the corporation shall be considered a Philippine national.

SECTION 9. Preferred Area of Investments shall mean the economic activities or project declared as such under Chapter IV Sec. 18 of this Code.

CHAPTER III THE BUKIDNON INVESTMENT AND EXPORT PROMOTION BOARD

SECTION 10. The Bukidnon Investment and Export Promotion Board (BIEPB) shall implement the provisions of this Code.

SECTION 11. Composition of the Board - The Bukidnon Investment and Export Promotion Board (BIEPB) shall be composed of fifteen (15) members with the Provincial Governor as Chairman, President of the Bukidnon Kaamulan Chamber of Commerce and Industries (BKCCI) as Vice Chairman, and the following as members: Sangguniang Panlalawigan Member- Chairman on Trade & Industry Committee; Director of the Department of Interior and Local Government (DILG); Director of the Department of Trade & Industry (DTI) Provincial Office; Chairman of the Bukidnon Tripartite for Industrial Peace Council (BTIPC), representatives from the Women and Education sectors, Bankers Association, Indigenous People Organization and the Micro, Small and Medium Enterprise Development Council (MSMEDC).

SECTION 12. Duties and Functions of the Board.The Bukidnon Investment and Export Promotion Board (BIEPB) shall meet at least once in every quarter, or can call for a Special Session anytime when necessary. It shall have the following duties and functions: a.) Promulgate implementing rules and regulations to implement the intent and provision of this Code; b.) Provide guidelines for approval, disapproval and cancellation for registration of business enterprises by the executive committee to be created for registration of business enterprises which are applying for fiscal and non-fiscal incentives; c.) Act on reports, recommendations and other actions presented by the executive committee; d.) Conduct annual review of the list of Bukidnon Investment Priorities (BIP) with the power to include/exclude other project/economic activities listed under Chapter IV of this Code. e.) Recommend parallel ordinances for enactment by the two (2) cities and twenty (20) municipalities in the province. f.) Generally, exercise all the functions and powers necessary to or incidental to the attainment of the objectives of this Code.

SECTION 13. Term of Office. All Members of the Board shall be appointed by the Governor and shall hold office for a term of six (6) years and shall be eligible for reappointment. However, term of office is not applicable to elected and appointed officials.

SECTION 14. CREATION OF THE EXECUTIVE COMMITTEE. There shall be created an executive committee of the board which will comprise of the following: Representative from the Provincial Governor’s Office, DTI, Bukidnon Kaamulan Chamber of Commerce, TESDA, BTIPC, to be chaired by the Bukidnon Kaamulan Chamber of Commerce. The EXECOM shall meet at least once in every quarter, or can call for a special session anytime when necessary.

The EXECOM shall have the following functions: a.) Act on application for registration and recommend for its approval by the Chairman of the Board, subject to the guidelines promulgated by the board. In case an application is disapproved by the EXECOM a corresponding explanation will be provided to the Chairman of the Board; b.) Periodically check and verify the compliance of registered enterprises with the relevant provisions of this Code, with the rules and regulations promulgated under this Code and with the terms and conditions of registration;

SECTION 18. Projects Eligible for Incentives. The following projects/activities shall be entitled to the incentives granted under this Code: 1.

Agri-business

a. Corn-based Industries

i. Post Harvest Facilities

ii. Feed Mill

iii. Corn Processing

b. Rice-based Industries

i. Post Harvest Facilities

ii. Rice Processing

c. Sugarcane-based Industries

i. Alcohol production and processing

ii. Sugar processing

d. Cassava Processing

e. Banana Processing

f. Pineapple Processing

g. Coconut Processing

h. Coffee and Cacao Production and Processing

i. Fruits and Vegetable Production and Processing

i. Noodles production

ii. Vegetable and fruit canning, freezing, dehydration and other means of preservation and packaging

j. Commercial seed production

k. Cutflower production

l. Integrated livestock breeding and processing

i. Hog, fowl, goat, sheep, and large animal breeding, production and fattening

ii. Hatchery

iii. Nucleus breeding farm

iv. Contract breeding/growing

v. Meat processing

vi. Tannery and Leathercraft production

vii. Cold storage, Triple A Slaughterhouse

viii. Slaughtering and production of dressed carcass and prime cuts of pork and beef

ix. Dairy Production and Processing

m. Fresh water fish production, breeding and processing

n. Herbal medicine production and processing

o. Gifts, decors and house wares

p. Textile and garments production from pineapple leaves, abaca and banana stalks as material, and other natural fiber including barangay level degumming and cotonizing activities and abaca production.

q. Pulp processing from farm wastes

r. Organic Fertilizer Production

s. Bio-energy crops for green fuel 2. Forestry-based industries

2.1 Rubber production and processing

2.2 Oil palm production and processing

2.3 Bamboo production and processing

2.4 Commercial tree plantation

2.5 Handicrafts

2.6 Security paper manufacturing (abaca-based)

2.7 Fire resistant particle board manufacturing

2.8 Wood processing using fast growing species

3. Service-related industries

3.1 Bulk handling and storage. The term includes cargo handling and warehousing enterprises.

3.2 telecommunications technology such as radio, tv and other wireless communication technology; information and communication technology such as call centers, software development, medical transcription and the likes.

3.3 Medical services/ facilities

3.4 Industrial and real estate development project

3.6 Engineering/ architectural services

3.7 Training and sports facilities

3.8 Energy related projects

3.9 Human resource development

4.0 Manufacture of agricultural and industrial tools, implement and Equipment.

4. Tourism Related Establishments

4.1 Accommodation facilities

4.2 Nature parks/ mountain resorts

4.3 Amusement park

4.4 Travel & tour operations

4.5 Restaurants/ food outlets

4.6 Retirement village and wellness center

4.7 Education-Cultural Camp

5.

Support Services 5.1 Research and development activities 5.2 Projects under R.A. 6957, as amended (BOT Law) 5.3 Special Export Processing Zones 5.4 Agro-processing centers 5.5 Private industrial estates

6. Exploration, Mining, Quarrying and Processing of Minerals.

7. Export-Oriented industries at least 50% of the total production is Exported.

8. Waste management and waste disposal projects.

Fiscal and non-fiscal incentives will be given to investors investing in the Bukidnon Investments Grid (BIG). Investments, however, should be in the preferred areas. The Board may also recommend amendments of the above list of preferred areas of investments. Provided, however that any amendments shall be reported within thirty (30) calendar days by the Board to the Sangguniang Panlalawigan for its appropriate action.

CHAPTER V RIGHTS AND OBLIGATIONS OF THE PROVINCIAL GOVERNMENT AND THE INVESTORS

SECTION 19. Rights and Obligations of the Provincial Government. To enhance investor confidence in the incentives program, the Provincial Government, thru EXECOM shall: (a) Clearly publicize to prospective investors the economic priorities of the province, including target investment areas and the general conditions to incoming direct private investment; (b) Clearly communicate investment evaluation criteria and procedures to enhance transparency in the incentives granting process; (c) In the formulation or modification of policies and ordinances that affect investments, take the fullest possible account of the need of the investors for stability, growth and profit in their operations; (d) Subsequent to the approval of the details of the implementation of an investment project and the ownership and management structure of the enterprise, the same should be honored in principle, subject, however, to provisions of existing laws; (e) Provide equal opportunity to all investors who wish to invest in the province whether foreign or domestic corporation/ enterprise, subject however to the provisions as provided under existing laws;

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(f) Make it a policy to observe highest degree of fairness, equality and amity to all business enterprises operating and/or that will operate within its territorial jurisdiction; (g) Provide a stable tax system with gross sales or receipts and real property being taxed at rates which do not discourage private investments; (h) Be guided by the principle on substantial classification and equitable imposition of local taxes and in granting tax incentives to all business enterprises operating within the province; (i) Upon the appropriate recommendation by appropriate agencies of the national government, permit the employment of qualified foreign personnel where there is needed for the efficient operation of the enterprises or for the training purpose; (j) Resolve all doubts concerning the benefits and incentives granted under the ordinances enacted for the purpose of encouraging investments shall be favorable to both government and private parties; and (k) Set aside funds for the Land Banking identified for future investments.

SECTION 20. Rights and Obligations of Investors and Registered Enterprises. - Investors and registered enterprises shall have the following rights and obligations: (a) Ensure in consultation with EXECOM that its proposed investment fits satisfactorily with the identified target investment areas; (b) Adequately and fully make known its expectations concerning the expansion of the enterprise, employment and marketing prospects and the financing of its operations; (c) In response to the interest shown by the community about the investment, take steps to provide relevant information about the operations of the enterprise, except for information that should be withheld for propriety or competitive reasons; (d) In presenting its investment proposal to the EXECOM, examine and endeavour to favorably consider suitable proposals concerning offering part of the equity for purchase or subscription by local investors, wherever this is compatible with the long-term economic interests of the enterprise; (e) Comply with the laws and regulations in relation to the submission of the necessary financial information in connection with the assessment and collection of taxes; (f) Abide by undertaking given to the EXECOM in connection with the investment; (g) Encourage local participation in the management of the enterprise and appoint qualified residents of the community to positions of responsibility and provide the training and experience necessary for such positions; (h) To the extent consistent with the efficient operations of the enterprise, take into account the Provincial Government’s effort to create employment opportunities in the localities where they are most needed and should make the maximum practicable use of local personnel; being one of the social responsibility in the community where they are in business; (i) In all matters directly affecting the interest of labor to the extent appropriate to local circumstance, consult and cooperate with labor organizations and labor unions representing the employees and workers it will hire; (j) According to the local circumstances, provide the best possible wages, social benefits, retirement provisions and working conditions within the framework of the Philippine Government’s Policies; (k) ) Support its investment with appropriate service and suitable technology to ensure the full contribution to the investment to the economy of the community; (l) Cooperate with Provincial Government in examining the impact of its operations on the environment and take steps to minimize damage so far it is economically and technically practical in the local situation; and (m) Respect the National laws, policies and economic and social objectives of the Philippine Government.

9

C. Exemption from the following provincial taxes within five (5) years from the date of the approval of registration:

C.1 The Transfer Tax imposed under Chapter II, Article I of Provincial Ordinance No. 93-05A on the sale, donation, barter, or any other mode of transfer ownership or title of real property located in the province owned by the Bukidnon Registered Business Enterprise (BRBE);

C.2 Chapter II Article II Tax on Business of Printing and Publication.

C.3 Chapter II Article III Franchise Tax

C.4 Chapter II Article IV Tax on Sand and Gravel and other Quarry resources.

C.5 Chapter II Article VI Amusement Tax

D. Chapter V Article VII Section 70 Veterinary Services Fees and Charges (Subject to the Recommendation by the Bukidnon Investment and Export Promotion Board to be approved by the Sangguniang Panlalawigan.)

SECTION 25. Tax Incentives to Registered Existing Enterprises. Registered existing enterprises qualified under this Code shall enjoy the following tax incentives: (a) Newly acquired real properties and newly installed machineries of the existing registered enterprises upon the effectivity of this Code which are actually and directly used in the expansion or diversification shall enjoy incentives set forth in the schedule on the preceding section for a period of five (5) years; provided, however, that these incentives shall apply only to the thirty-five percent (35%) share of the province; (b) Machineries and equipment used for pollution control and the environment protection shall be exempt from real property taxes pursuant to Sec. 234 (e) of R.A. 7160, otherwise known as the Local Government Code of 1991.

CHAPTER VIII TRANSITORY PROVISION

SECTION 26. Application of this Code. This Code shall apply to all business expansion and new investments which are covered under Section 18 of this Code and commercially operational beginning the effectivity of this Code.

CHAPTER IX FINAL PROVISIONS

SECTION 27. Separability Clause. – If, for any reason, any provision of this Ordinance is declared illegal or unconstitutional, the rest shall not be affected thereby.

SECTION 28. Effectivity Clause. - This Ordinance shall take effect immediately upon its approval.

Approved.

I HEREBY CERTIFY to the correctness of the foregoing ordinance.

***

***

***

CHAPTER VI REGISTRATION OF ENTERPRISE

SECTION 21. General Criteria for All Enterprises - Existing business enterprises and new investors who intend to avail of the incentives provided in this Code must meet the following criteria; (a) The prospective investor’s principal production facility will be located within Bukidnon Investment Grid and/or projects listed on Section 18 of this Code;

(a.1) The prospective investor must be a new business corporation or partnership, duly registered with the Securities & Exchange Commission; if a single proprietorship, it must be duly registered with the Department of Trade & Industry; and must have its principal office located within the province;

(a.2) The prospective investors must engage in activities in preferred areas of investment as may hereafter declared by the Board;

(a.3) The new enterprise must have a capitalization of at least three million pesos provided that the amount of capitalization shall be based on the total project cost as stated in the investor’s study submitted to and approved by the Board;

(a.4) That the new enterprise will provide, out of its regular labor force requirement and employment of not less than ten (10) persons in case of a small scale enterprise, at least twenty (20) persons in case of a medium scale enterprise and at least one hundred (100) persons in case of a large industry who are bonafide residents where the enterprise is located. (b) Eligible existing enterprises are those whose principal production facilities are already located within the territorial jurisdiction of the province and whose proposed expansionary/ diversification should principally be located within the territorial jurisdiction of the province, provided they:

(b.1) relocate its principal office from other place in the Philippines to the province;

(b.2) undertake expansion of existing production capacity or construction of new machinery and equipment or improvements thereof which will result in an increase in production capacity; or (b.3) provide additional employment of no less than twenty percent (20%) of existing workforce; (c) The business enterprise had complied with all the requirements mandated under existing local or national law and the Constitution.

SECTION 22. APPLICATION REQUIREMENTS. Application shall be filed with the Center duly recorded in a registration book and the date appearing herein and stamped on the application shall be considered the date of official receipt thereof. a) A non-refundable filing fee to be determined and set by the Board depending on the size of assets shall be paid together with the following documents for registrations; 4 copies of the complete project study showing that project covered by the application is economically, technically and financially sound; b) A certified true copy of its certificate of registration, Articles of incorporation and by- laws with the Securities and Exchange Commission and Business Registration with the Department of Trade and Industry, in case of single proprietorship; and c) Verified resolution of the applicant’s Board of Directors, in case of a corporation or partnership, authorizing the filing of application; d) List of Directors and other principal officers and their respective nationalities and current address as certified by the corporate secretary and a certification by the corporate secretary that the minimum number of directors required to the Philippine nationals have been complied with, and e) Environmental Compliance Certificate or ECC from DENR shall be strictly complied.

Republic of the Philippines PROVINCE OF BUKIDNON City of Malaybalay OFFICE OF THE SANGGUNIANG PANLALAWIGAN EXCERPTS FROM THE MINUTES OF THE 12TH REGULAR SESSION OF THE 11TH SANGGUNIANG PANLALAWIGAN, PROVINCE OF BUKIDNON, HELD ON MONDAY, MARCH 25, 2013 AT THE SANGGUNIANG PANLALAWIGAN SESSION HALL, MALAYBALAY CITY, BUKIDNON. PRESENT: Hon. ALFEO U. BAGUIO, Board Member/Temp. Presiding Officer Hon. JAY S. ALBARECE, Board Member Hon. NEMESIO B. BELTRAN, JR., Board Member/Floor Leader Hon. ROELITO A. GAWILAN, Board Member (Ex-Officio-rep. FABC) Hon. MAGDALINO C. PANDIAN, Board Member (Ex-Officio-rep. IPs) Hon. RANULFO E. PEPITO, Board Member Hon. RAIZA ANGELIQUE D. PORMINAL, Board Member (Ex-Officio-rep. SK) Hon. CLIVE D. QUIÑO, Board Member Hon. GORDON M. TORRES, Board Member

ABSENT : Hon. JOSE MA. R. ZUBIRI, JR. Provincial Vice Governor-on O.B. Hon. RENATO C. CENTILLAS, Board Member – on O.B. Hon. ROLAND F. DETICIO, Board Member (Ex-Officio-rep. PCL)- on O.B. Hon. MANUEL L. DINLAYAN, Board Member – on O.B. Hon. MARIVIC R. MONTESCLAROS, Board Member – on O.B. ORDINANCE NO. 2013-81R(11TH SP) (12th Regular Session)

CHAPTER VII TAX INCENTIVE HOLIDAY

SECTION 23. Tax Incentive under the Local Government Code. The following incentives mandated under RA 7160 otherwise known as the Local Government Code of 1991 shall be given to qualified business establishments operating in the province: (a) Exemption from business taxes of pioneer or non-pioneer BOI registered enterprise for a period of six (6) and four (4) years respectively, from the date of registration, in accordance with local finance Circular No. 5-93 dated October 22, 1993, issued by the Department of Finance or DOF; (b) Exemption from taxes, fees and charges and other impositions upon goods or merchandise carried into or out of, or passing through the territorial jurisdiction of the province, in the guise of charges for wharfage, tolls for bridges, or otherwise, or other taxes, fees or charges in any form whatsoever upon such goods and merchandise; (c) Exemption from taxes, fees and charges of Philippine products actually exported except collection of fifty percent (50%) of the rates prescribed for manufacturers, etc.; wholesalers, dealers, distributors, etc. and retailers based on the gross sales/receipts of the exported products in accordance with Local Finance Circular No. 4-93, dated July 30, 1993, issued by the Department of Finance; (d) Exemption from taxes from the gross receipts of transportation contractors and persons engaged in the transportation of passengers or freight by hire and common carriers by air, land or water, except tricycle operation; and (e) Imposition of fifty percent (50%) of the rates prescribed for manufacturers, etc.; wholesalers, dealers, distributors, etc,; and retailers on the gross sales of essential commodities listed in the Article 232 (c) in the implementing rules and regulations of the Local Government Code.

SECTION 24. Fiscal Incentive to New Registered Enterprise.

New Registered Enterprises are granted the following incentives:

A. Incentives from Real Property Tax (excluding the special education fund component) corresponding to the 35% share of the province on industrial/commercial buildings and improvements shall take effect on the month of January of the following year after occupancy:

B. Exemptions on the Real Property Tax (EXCLUDING THE SPECIAL EDUCATION FUND COMPONENT) on equipment, machineries and devices (other than those used for anti-pollution and environment protection) without limit on the value or acquisition price thereof:

AN ORDINANCE BANNING AND PROHIBITING RESIN EXTRACTION FROM PINE TREES ANYWHERE IN THE PROVINCE OF BUKIDNON AND PROVIDING PENALTIES FOR VIOLATION OF THIS ORDINANCE –

Introduced by: Hon. Nemesio B. Beltran, Jr.

Hon. Manuel L. Dinlayan

Board Members-2nd District of Bukidnon

&

Hon. Jose Ma. R. Zubiri, Jr. Provincial Vice Governor This Province EXPLANATORY NOTE

Resin extraction or better known as Oleoresin industry was first practiced in the Buguias Region by the Igorots in the 1970’s, but this “industry” was abruptly stopped and died a natural death in the early 1980s, because it was found that the industry was not sustainable, and could cause the death of a pine tree once it is taped for sapping its resin. Moreover, studies revealed that extraction could cause a forest conflagration magnitude because the sap would leak out to the base of the tree and the accumulated deposits are proven to be combustible, thus a grass burn could easily ignite a tree and quickly spread out to the other trees.

In the early 2000’s, the practice of resin extraction had found its way in Malaybalay forests, but this was soon curtailed due to the passage of an Ordinance, prohibiting it. Recently, the citizens of Bukidnon were aghast and appalled after knowing that a Chinese firm was granted by Bukidnon Forest Inc. (BFI) a contract to extract resins from the pine trees within the 38,000 – hectare BFI IFMA premises.

This practice should henceforth be stopped for good.

NOW, THEREFORE, on motion of Hon. Nemesio B. Beltran, Jr. and with the unanimous accord of the Members present, assembled in session:

BE IT ORDAINED, by the Honorable Sangguniang Panlalawigan of Bukidnon, this 25th day of March, in the Year of Our Lord, Two Thousand Thirteen, that:

SECTION 1. – Resin extraction out of a pine tree is hereby banned and prohibited anywhere in the province of Bukidnon.

SECTION 2. – Any person who is found to have violated this Ordinance shall be meted with an imprisonment of not more than (6) years or a fine of Five Thousand (P5,000.00) Pesos, or both, at the discretion of the court.

In the case of corporate entities, the penalties provided herein shall be imposed on the officers who participated, directly or indirectly, in the approval of the resin extraction of their legal entities.

SECTION 3. – The Provincial Environment and Natural Resources Office is hereby authorized to confiscate resin products illegally extracted from the pine trees, and to initiate the appropriate charges, aided by the Provincial Legal Officer, against the violators hereof.

The PENRO is hereby authorized to place appropriate warnings in strategic places to forewarn the public against resin extraction activities.

SECTION 4. – This Ordinance shall take effect immediately upon its approval.

Approved.

*** *** I HEREBY CERTIFY to the correctness of the foregoing ordinance.

***

BD: May 2, 2013

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Projects... from page 4

propaganda materials on bridge approaches, road and bridge railings, road signages, and other similar public infrastructure. Governmentfunded infrastructure and ut i lit ies, says Secreta r y Rogelio Singson, will be protected from being used as “accessory resources of any candidate”.

However, there is no mention from the DPWH’s end that the construction and repair or roads and other public infrastructure –funded by taxpayers’ money– cannot be used anymore by local politicians for electioneering.

What is common in the Philippines is the series of road constructions said to be timed at the campaign period.

L ast Ja nua r y 30, t he Commission on Audit’s Ci rc u l a r no. 2 013 - 0 0 4 mandated that “the display a nd /or a f f i x tu re of t he pic t u re , i ma ge , mot to, logo, color motif, initials, or other symbol or graphic representation associated with the top leader of (a gover n ment prog ra m’s) project proponent or an i m p l e m e nt i n g a g e n c y/ unit/office on signboards is considered unnecessary.”

This also applies to such physical displays that are associated with congress people, executive officials or local officials. Examples include having the initials of a local official in the signs of school buildings.

The circular also provides: “No election-related expense or propaga nda sha l l be cha rged a ga i nst publ ic funds.”

If of f icia ls use such projects for electioneering, the COA will disallow these expense items, the circular wrote.

As early as his acceptance speech on June 30, 2010, President Beningo Simeon Aquino III ordered that his name and face not be flashed in tarpaulins and signboards announcing a governmentfunded project.

In various media platforms, however, some Filipinos cast doubts on antiepal measures by government agencies. Some are skeptical if government agencies will truly enforce these antiepal laws. (By Jeffrey George Udarbe, Chelin Emmanuelle Hernandez and Jeremaiah O pi n ia no/ T he Fi l ipi no Connection)

Honda... from page 3

Honda vehicles are affected by this recall globally.

Under the recall, HCPI will replace, free of charge, the inflator of the affected Honda models. HCPI is calling on the owners of t he se a f fec ted veh icle s to bring their unit to an authorized Honda dealer for part replacement. HCPI said the repairs will be carried out even if some of the affected vehicles have already been sold by their original owners.

The repairs are expected to take less than two hours to complete and may be carried out at any of 31 Honda service centers nationwide.

There has been no known case of abnormal deployment of the passenger airbag and no crashes or injuries have been reported in relation to this issue.

Concerned Honda owners shall be notified through phone and letters

by Honda dealers. For more information, Honda owners may call their dealers for service appointment. Repair of affected vehicles began on April 22.

BMW... from page 3

customers experience sheer driving pleasure. FlexiLease is def initely one of t he most convenient ways to experience it,” added Parco.

F le x i L e a s e pro g r a m is open to individual or corporate customers.

Application only takes five working days for individuals and seven days for corporate fleet accounts. The program is inclusive of comprehensive insurance, LTO registration and BMW standard maintenance services. All in all, these unique features allow customers to experience a multitude of benefits that other car financing options such as loans don’t have.

Threats... from page 1

renewable energy projects from being adopted, with coal taking over the demand in the market that could otherwise have been supplied by RE.” “Coal-fired power plants are the biggest source of man-made carbon dioxide emissions, making it the single greatest threat facing our climate. Mitigation must go hand in glove with adaptation. The government must cease and desist from the construction of all coalfired power plants in the country,” he added.

Last month, CCC Vice Cha ir person Ma r y Ann Lucille Sering said that the Aquino administration has now allocated P13 billion in 2014 for climate change mitigation and adaptation.

“The message is clear.

It i s t i me to ac t now.

Climate change adaptation, mitigation and disaster risk ma nagement shou ld be planned accordingly. We shou ld now consciously consider t he impacts of the changing climate in all government planning as a pro-active approach to development,” she stressed.

When asked if he thinks the government’s efforts are up to scale with the magnitude of the climate change threats the Philippines is facing daily, Hernandez said: “Not really.

Passing legislation is one thing, but implementation is another story. Moreover, government policies and programs associated with this issue appear to be inconsistent and schizophrenic.

DoE’s National Renewable Energy Program (NREP)

recently conducted a seminar attended by Greenpeace.

“When I attended the NREP workshop two weeks ago, it was so frustrating to see that despite the positive NR EP projections, it is nothing but a paper promise if it is not synchronized with the P[hilippine] E[nergy] P[lan],” said Anna Abad, Greenpeace SEA climate and energy campaigner.

Abad sa id t hat DoE leadership must be committed to carry out the NREP plans as mandated by the Renewable Energy Law of 2008.

“Kailangan ta laga ng commitment and leadership from the agency mandated to carry it out (DOE) otherwise, baliwala yung targets at plans nila. Even the RE developers say that they can achieve the targets and even surpass it, the only stumbling block is the supporting mechanisms under the RE Law are not yet approved and implemented hence, the vision for RE w i l l rema i n elusive for now (or under the current administration).

The Philippines has been repeatedly cited as one of the most vulnerable and least prepared countries to deal with the impacts of climate change. As such the government and the i n s t it u t i on s m a n d a t e d to help protect Filipino communities against climate change impacts should stop “mimicking the destructive path [of developed countries] that is pushing the climate to a tipping point that the world may never recover from. The Philippines has more to lose if continued approvals for coalfired power plants remain u n a b a t e d ,” He r n a n d e z stressed.

Palm... from page 1

A Brown said oil palm contributes to the greening of the barren lands, thus saving the dry lands from complete unproductive. It said the company adheres to it s cor por ate s oc ia l responsibility and strictly following Executive Order No. 26 which requires the i mplement at ion of t he National Greening Program of t h e D e p a r t m e nt of Environment and Natural Resources (DENR).

A B E R DI h o o k s t h e National Greening Program as an extension of its eminence aside from anchoring the country’s economy.

Recently, it has helped in the planting of around 20,000 falcata seedlings in Kalabugao, Bukidnon and about 80,000 in Tingalan, Opol, Misamis Oriental, planted in nearly 160 hectares of idle, unproductive public lands. Roughly, it did not destroy and will not destroy forest lands.

Company data showed that about 1,000 hectares of practically idle lands in Kalabugao, Impasug-ong, Bukidnon were now planted with oil palm, turning the barren land into a sprouting green forest,

This is where the soca l led env ironmenta list groups erred in claiming that we are destroying the country’s remaining forests, the company said. (To be continued)

Philsaga... from page 1

workers and 1,800 contract mine workers. The company has yet to determine the wage adjustments but assured they would announce it soon.

Based on the minimum daily wage rates in Caraga region, industrial workers are expected to receive P258 a day.

Apart from the wage hike, Villanueva said the company has decided to help ease the burden of the school children of the company workers by paying all the miscellaneous fees to at least 25 schools in the neighboring villages.

He a lso said t he scholarship program for i nd igenou s pe ople a nd i n d i ge nt f a m i l i e s w i l l continue with a fresh batch that would be selected for this coming school year.

Present ly, t here a re 36 collegiate scholars of the company.

During the celebration, several workers were cited with different awards for their excellence of their skills in the work places. The awardees received plaques and cash awards.

Claims... from page 1

of K i nog ita n (M isa m is Oriental), Inc. at the PDIC Claims Counter, 4 th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City. Claims may also be filed through mail.

The state deposit insurer has already concluded the onsite claims settlement operations for RB Kinogitan at the bank’s premises last April 12, 2013.

PDIC sent notices of payment amounting to P0.91 million involving 789 accounts with balances of P15,000 and below where the filing of claims is waived by PDIC. PDIC paid 127 claims during the onsite claims settlement operations involving 115 accounts for a total amount of P4.6 million worth of deposits.

As of April 12, 2013, PDIC has yet to receive deposit insurance claims for 524 accounts, or 82% of the total number of accounts of 1,430 that require the filing of claims. The total amount of deposits covered by these claims is P10.13 million.

Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar as an additional requirement. Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney of the depositor or parent of a minor depositor.

T he procedu res a nd requirements for filing deposit

insurance claims are posted in the PDIC website, www. pdic.gov.ph . The Claim Form, Claim Status Sheet, and format of the Special Power of Attorney may also be downloaded from the PDIC website.

In accordance with the prov isions of t he PDIC Charter, the last day for filing deposit insurance claims in the closed RB Kinogitan is on March 27, 2015. After the said date, PDIC, as Deposit Insurer, shall no longer accept any deposit insurance claim.

For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at pad@pdic.gov.ph .

The Philippine Deposit Insurance Corporation (PDIC)

11

was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing permanent and continuing deposit insurance.

Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 per depositor.

All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, HYPERLINK “http://www. pdic.gov.ph” www.pdic.gov. ph .(PNA)

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CDO holds body building tilt

by: Ian Gesta, Contributor

The Cagayan de Oro Classic body building competition ended on a high note, April 27at Divisoria, Cagayan de Oro City.

It was organized by O2 Power Hauz and in cooperation with Business Week Mindanao Group of Publications.

Twenty four body builders from all over the Philippines competed.

The competition ran for two phases, the novice class category and the open class category.

Both categories include the comparison and the pose down.

Each contestant had the chance to showcase its muscular physique in their individual performances.

The board of judges which

consisted of national and international winners in body building chose top 6 participants in both categories.

Subsequently in the Novice class, Leo Totne (Duplexx Fitness Center) was hailed champion whereas Legen Gungob (Pelaez Sports Complex Gym) landed as 1st runner-up and

Miel Bryan Cayman (O2 Power Hauz) as 2nd runner-up.

Moreover, three body builders were hailed as the best in the open class category which are Sandy Bontuyan (Manila) as this year’s champion, Albin Remitares (Manila) as 1st runner-up and Johnald Romero (Manila) as 2nd runner-up.