BUSINESSWEEK MINDANAO (Nov30-Dec1, 2012)

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Issue No. 133, Volume III •

Cagayan de Oro City

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every Mondays, Wednesdays, & Fridays

Nov. 30-Dec. 1, 2012

P15.00

Market Indicators

As of 5:58 pm Nov. 28, 2012 (Wednesday)

FOREX

PHISIX

US$1 = P40.90

5,633.72 points

X X Briefly 3 cents

47.21 points

P5-B investment

DAVAO City – As soon as the four Malaysian firms will push through with their plans to invest in palm oil production, Mindanao will get some P5 billion in fresh infusion of investment.

This was bared recently

by Gil M. Dureza, Board of Investment (BOI) Davao chief, saying that they will be meeting with the representatives of the companies in Kuala Lumpur this month.

Dureza said during a business forum here that Mindanao has still at least three to five million hectares suitable to palm oil production.

There are about 30,000 hectares of lands devoted to palm oil plantations in the island, Dureza said.

Poverty incidence

TAGUM City --The high poverty incidence in the Davao Region continues to prove quite a challenge to the area’s development planners despite its proven resiliency during the 2010 global economic crisis.

“The high poverty incidence of the region, almost one fourth of the region’s families, continues to prove a challenge,” OIC Assistant Regional Director Miguel Herrera III of the National Economic Development Authority (NEDA) XI said during the Regional Development Plan Roadshow held at the Provincial Government Center in Tagum City, Davao del Norte Wednesday.

Herrera, who presented the Regional Development Plan for 2011-2016, said the Plan is growth-inclusive and will ensure that “no Dabawenyo is left behind.”

Zambo biz forum

ZAMBOANGA City -- The Zamboanga Chamber of Commerce and Industry will host a candidates forum in a local hotel in this city on Dec. 6.

Chamber President Rufo Pocholo Soliven said the forum will initially focus on mayoralty bets.

He said the four candidates for the city mayors have all agreed to participate in the forum. Two are incumbent congressmen, the other is a congressman convicted and jailed while the fourth candidate is a businessman.

But observers see legal entanglement with the bank’s “new” investor

C

By IRENE DOMINGO, Reporter

AGAYAN de Oro City-based Siam Bank (A Rural Bank) Inc. has been put under receivership of the stateowned Philippine Deposit Insurance Corp. by the Bangko Sentral ng Pilipinas Monetary Board.

SIAM BANK’S CLOSED. Siam Bank, a Cagayan de Oro-based rural bank owned by the Sarraga family, is now closed. The Monetary Board has placed the bank under receivership by the Philippine Deposit Insurance Corp. (PDIC). (F ile Photo)

Under MB Resolution No. 1920, the state insurer has the authority to gather, verify and validate all records of Siam Bank, which has five units. PDIC said all valid depositors will be paid up to the maximum insurance coverage of P500,000.

Siam Bank’s main branch is located at the ground floor, Executive Centrum Bldg., J.R. Borja St., Cagayan de Oro City.

At end-September, Siam Bank had 5,7376 accounts with total deposit liabilities siam/PAGE 9

GMA Network to invest Primavera Residences qualifies for P100-M for CdO station

Asia Clean Energy Financing Awards PRIMAVERA Residences has qualified for the next stage of the CTI PFAN Asia Forum for Clean Energy Financing (AFCEF-3) Business Plan Competition.

The competition seeks to

nurture entrepreneurs, startup and existing companies, project teams and consortia with environmentally beneficial business proposals to enable them to link with investors and financiers that

would help bring their projects to fruition.

Harold J. Dacumos, Chief Finance Officer of Euroasian Design and Eco-Development Corporation (Italpinas), deprimavera/PAGE 9

To Launch Primetime Newscast in 2 months

By MIKE BAÑOS, Correspondent

THE Kapuso Network is coming in Big in Cagayan de Oro and Northern Mindanao.

I n it s a n nu a l Tr ade Thanksgiving Party held last November 20 at the N Hotel, Rikki O. Escudero, Vice President for Regional TV and Head for Expansion and Production Services announced GMA Network would soon be constructing an originating station in Cagayan de Oro. “Tonight, I am proud to announce that GMA Network will build its newest Origi-

nating Station with its own studio capable of churning out original programs-- for Northern Mindanao,” Ms. Escudero said. “We will be investing close to 100 million pesos for this facility which will be based in CDO .

On top of the new station, Ms. Escudero said GMA Network would also be launching its afternoon “Serbisyong Totoo” Primetime Newscast “in a little over 2 months – and we will be covering news not only in CDO but also nearby Iligan, Bukidnon and Ozamiz. This is our way of gma/PAGE 9

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Motoring

Isuzu’s October sales up 20% CA R M A N U FAC T U R ER Isuzu Philippines Corp. saw its sales grow by a fifth in the 10 months to October, the firm said in a statement on Tuesday.

Januar y-October sa les enabled Isuzu to remain the “third-biggest manufacturer of commercial vehicles in the country,” the statement read.

Isuzu sold 9,595 units as of October, 20.4% more than the 7,968 units recorded in the same 10 months last year.

October-specific data were not immediately available. The company said it cornered 11% of the country’s commercial vehicle market. “ The upturn of Isuzu Philippines’ sales in the first 10 months of 2012 is a clear indicator of the brand’s performance for the entire year,” said Isuzu President Ryoji Yamazaki in the statement.

He added “in the final two months, we expect the company’s performance to even improve as sales will likely be boosted by increased consumer spending during the coming holiday season and by remittances from overseas Filipino workers, as well as several economic factors that would spur market confidence.”

Isuzu’s cited its best-sellers as the Crosswind with 4,936 units sold during the period, D-MAX pickup with 2,297 units and the Alterra with 688 units.

The firm’s truck sales also improved from January to October, cornering 55% of the truck market. Isuzu sold 1,372 units trucks in those 10 months.

The firm manufactures 90% of its vehicle models,

except for the Alterra.

Isuzu is a member of the Chamber of Automotive Manufacturers of the Philippines,

Inc., which reported sales of 126,663 units from January to October, an increase of 7% from 118,762 the previous year.

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CEB flies close to 9.8 million passengers MANILA - The Philippines’ largest national flag carrier, Cebu Pacific (PSE: CEB) flew close to 9.8 million passengers from January to September 2012, an increase of 12% compared to 8.7 million passengers flown in the same period last year.

CEB’s passenger growth from January to September 2012 was driven mainly by the strengthening of the airline’s domestic route network out of Cebu, and additional capacity to key international destinations.

“We were able to increase passengers f rom Cebu to Visayas by 47%, to Luzon by 42%, and to Mindanao by 30%. This best illustrates the Cebu Pacific effect—whenever we enter new markets or add capacity, we effectively stimulate travel and enable everyJuan to f ly with our trademark low fares,” said CEB VP for Marketing and Distribution Candice Iyog.

Notable growth can also be seen in CEB’s international passengers to and from Malaysia (19%), Taiwan (25%), mainland China (29%) and Brunei (24%).

“Cebu Pacific remains on

track with hitting its 14 million passenger target for 2012. We launched 10 domestic routes in October, as well as the first international f lights out of Iloilo, CEB’s Iloilo-Hong Kong and Iloilo-Singapore services, in November. We will also launch Cebu-Bangkok and Cebu-Kuala Lumpur services in December,” Iyog said.

Last November 15, 2012, CEB also awarded its 70 millionth passenger, a milestone reached less than two years after President Benigno Aquino III awarded CEB’s 50 millionth passenger.

“We look forward to expanding even further next year, especially when we announce our first long-haul destination,” she added.

CEB currently operates 10 Airbus A319, 22 Airbus A320 and 8 ATR-72 500 aircraft.

Its fleet of 40 aircraft is one of the most modern aircraft fleets in the world. Between 2012 and 2021, Cebu Pacific will take an additional 19 Airbus A320 and 30 Airbus A321neo aircraft. It is slated to begin long-haul services in the 3rd quarter of 2013, with the arrival of 2 Airbus A330-300 aircraft.

PVB revises MoA in servicing pensioners

Philippine Veterans Bank, a commercial bank owned

by World War II Filipino veterans and their heirs, reiterated its support to the Philippine Veterans Affairs Office (PVAO) after signing a revised Memorandum of Agreement on the Direct Remittance Pension Servicing System (DRPSS) together with six other banks.

Originally signed in 2009, the DRPSS was launched in 2009 for the benefit of Filipino veterans.

Through the program, delivery of monthly pensions to veteran pensioners is made easier, faster, and safer through the use of modern technolog y and has also improved the monitoring of PVAO and veterans’ funds though bank reconciliation systems.

The DRPSS agreement mandates all partner banks of PVAO to credit to qualified veteran pensioners their monthly pensions not later than 25th of each month and that all six banks are to render the best possible service to these pensioners including the provision of safe and convenient areas for withdrawal of pensions.

Aside f rom Vetera ns Bank, other banks signifying their support of PVAO’s DRPSS included Asia United

Bank (AUB), Development Bank of t he Philippines (DBP), Landbank of t he Philippines (Landbank), Maybank, and United Coconut Planters Bank.

Under the revised MoA, partner banks working with PVAO will regularly monitor the living status of pensioners via updating of pensioners’ passbook and ATM accounts every six (6) months.

A pension account will be automatically tagged six months after its activation and no withdrawals can be made, especially via ATM, unless the pensioner makes a personal appearance at or submits a valid proof of life to his bank where he maintains his pension account.

UNFPA National Program for Reproductive Health Dr. Joseph Michael Singh elaborating on RH statistics with some of the PSC members (from left to right: Mindanao Development Authority Director IV Mr. Reyzalde Tan, UNFPA Assistant Program Officer Richard J. Atamosa, Dr. Joseph Michael Singh, Institute of Primary Health Care Executive Director Josephine I. Quianzon,NCIP Region XI Director Woy Lim P. Wong, DOH Mindanao Cluster representative Dr. Carlito Pellirin, UNFPA Project Manager Dr. Ma. Melissa Miranda-Poot, DOH Chief Health Program Officer of Bureau of Local Health Development Engr. Raul Alamis) INSET:( left to right: IP MNCH Project Director Lilibeth D. Malabanan, European Union First Secretary Head of Dev’t. Cooperation Mr. Johann George Farnhammer, NCIP Chairperson Hon. Zenaida Brigida Pawid)

Health Programme for IP in Mindanao starts Davao City- On the conduct of the first Project Steering Committee (PSC) Meeting of the Indigenous Peoples Maternal, Neonatal, Child Health and Nutrition ProjectMindanao or IP MNCHN Project-Mindanao yesterday November 27), basic policies of the project and coordination among PSC members were agreed upon.

The Project Steering Committee as co-chaired by the National Commission on Indigenous Peoples and the Department of Health (DoH) will oversee the overall direction and policy of the project.

“This is a crucial meeting as we need to establish a strong foundation for the

project. The “buck stops” at the PSC level and it is very important that we arrive at a decision most sound and responsive to the needs of our Indigenous Peoples. We can only do so with all of us united amidst the complexity of our tasks and mandates as government agencies and peoples organizations,” IP MNCHN Project Director Dr. Lilibeth D. Malabanan said.

Sitting as members of the PSC are representatives from the Department of Social Welfare and Development (DSWD), Department of Interior and Local Government (DILG), National Economic and Development Authority (NEDA), Mindanao Devel-

Cepalco’s P2B investment for 2012-2015 could lower electricity charges - ERC CAGAYAN DE ORO CITY – To improve its distribution system and give more opportunities for a lower power cost for its consumers, the Cagayan Electric Power and Light Co. is investing about P2 billion over the next four years in projects.

The Energy Regulatory Commission (ERC) has approved capital expenditure spending of Cepalco for the third regulatory period (July 2011 to June 2015).

This was slightly lower than the P2.14 billion it first asked ERC. The regulatory board has disallowed some of its proposed projects.

The ERC said that , under the performance-based regulation (PBR) scheme , Cepalco’s budget

for the next four years would result in lower distribution charges for its customers.

For regulatory year 2012, Cepalco was able to decreased its current average charges of P1.5705 per kWh, to P1.2491 per kilowatthour, as approved by ERC. “The decreasing price trend on the third regulatory period for Cepalco is a good signal that the benefit of adopting the PRB ratesetting methodology is now taking effect. The PBR has put pressure on the utilities to improve their systems and be more efficient in their operations,” said ERC chairperson Zenaida G. CruzDucut.

With the ERC decision, Cepalco can now translate the approved charges of P1.2491 per kWh for 2012 into rate schedules for its different customer classes and file its application with the ERC for approval.

Upon approval of these revised rate schedules, Cepalco can then start charging the lower rates to its customers.

Cepalco is the third-largest power distributor in the country, and has more than 100,000 residential, commercial and industrial customers in its franchise area covering Cagayan de Oro and the municipalities of Tagoloan, Villanueva and Jasaan, Misamis Oriental.

opment Authority (MinDa), Philippine Commission on Women (PCW), non-government organizations (NGOs), civil society organizations (CSOs), Indigenous Peoples Organizations (IPOs), UNFPA, and the EU delegation.

“We are glad of this partnership with the European Union, the NCIP, and the UNFPA as this goes along with the Kalusugang Pangkalahatang program of the Department of Health. This showcase of partnership will definitely benefit our Indigenous Peoples of Mindanao and the country in general and will also help to achieve the MDG's,” Department of Health Director Bureau of International Health Cooperation Dr. Maylene Beltran expressed.

Generally, the PSC approved the Overall Work

Plan for the period 20122016 along with the project sites and the organizational structure. The initial project sites are Montevista Compostela Valley, Carmen North Cotabato, and Brgy. Sinuda Kitaotao Bukidnon.

A landmark program indeed, IP MNCHN ProjectMindanao will work on the provision of culture-sensitive health services for the Indigenous Peoples of Mindanao with an end goal of improving access to and utilization of quality essential reproductive health service through a comprehensive and culturally acceptable implementation of the maternal, neonatal, child health and nutrition strategy.

The project is mainly funded by the European Union through a grant of 350 million Peso.

REPUBLIC OF THE PHILIPPINES REGIONAL TRIAL COURT 10TH JUDICIAL REGION BRANCH 28 MAMBAJAO, CAMIGUIN In the Matter of Petition for Issuance of Original Copy of Original Certificate of Title No. P-5091, Lot 252, of the Registry of Deeds of Camiguin,

MISC. CASE NO. 118

LIZA PATANGAN CHAN,

Petitioner, -versusATTY. ALMA CONCEPTION M. PARREÑO, In her capacity as Ex-officio Register of Deeds of Camiguin, Respondent, X-------------------------------------------/ ORDER

Petitioner, who is of legal age, Filipino, married and resident of Mambajao, Camiguin, thru counsel, states that she acquired ownership over of a parcel of land located at Langcangan, Poblacion, Mahinog, Camiguin, identified as Lot No. 252, covered by Original Certificate of Title No. P-5091, in the name of Nicomedes Patangan, duly registered in the Office of the Register of Deeds of Camiguin, thru an Oral Partition before his father’s death last November 2007.

That the owner’s duplicate copy of the OCT of the aforesaid parcel of land was lost and despite earnest effort to locate it, the same prove futile. The fact of such loss was duly registered in the Office of the Registry of Deeds of Camiguin.

That the subject Original Certificate of Title has not been pledged or used as Collateral for any mortgage contract or for any contractual obligation or otherwise delivered to any person or entity to guarantee any obligation and for any other purpose.

It is the main thrust of the petition that after hearing the Owner’s Duplicate copy of the Original Certificate of Title which was lost be declared null and void and a new Owner’s Duplicate copy of the Original Certificate of Title No. P-5091over Lot 252 be issued in lieu thereof under the same terms and conditions as contained in the original on file.

The petition being sufficient in form and substance is hereby set for hearing on December 11, 2012 in this Court’s Session Hall, to start at 8:30 o’clock in the morning.

Let copy of the petition together with all its annexes and of this Order be furnished The Register of Deeds at Mambajao, Camiguin; The Administrator, Land Registration Authority at Quezon City; and Provincial Prosecutor of Camiguin.

The Process Server of this Court is directed to post copies of this Order in the 1.)Bulletin Board-PublicMarket,Mahinog,Camiguin; 2.)Bulletin Board-Municipal Hall, Mahinog, Camiguin; 3.)Bulletin Board-Provincial Capitol, Mambajao, Camiguin; and 4.)

Bulletin Board – this Court.

Let copy of this Order be published at petitioner’s expense once a week for three consecutive weeks prior to the date of hearing in any newspaper of general circulation in the Province of Camiguin.

Any person or entity whose interests might be adversely affected by this proceeding may file written opposition within a reasonable time prior to the date of hearing and appear personally during the hearing to substantiate the same.

SO ORDERED.

Done at Mambajao, Camiguin, this 26th day of September 2012.

RUSTICO D. PADERANGA Judge

BWM: NOV. 23, 30 & DEC. 7, 2012

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PSEi scales to new high after 3Q growth data PHILIPPINE share prices on Wednesday extended their record breaking run for the fourth straight session to close above the 5,600 level for the first time after the country’s gross domestic product (GDP) in the third quarter came in better than expected.

At the Philippine Stock Exchange, the composite index rose 47.27 points or 0.85 percent to close at a fresh all-time high of 5,633.72, surpassing its previous high of 5,586.45 on Tuesday.

Leading the market’s rally was the property sector,

which jumped 1.34 percent.

Decliners beat advancers, 79 to 78, while 46 issues were unchanged. A total of 4.14 billion stocks worth P8.66 billion changed hands.

Actively traded stocks were PLDT, SM Investments, GT Capital, SM Prime and

Meralco. Top gainers were IPeople, Cirtek and First Abacus, while the biggest losers were Touch Solutions, Oriental Peninsula and 2GO. “The GDP result was definitely a factor because before it came out we were trading sideways and the market even opened lower,” said Jose Vistan of AB Capital Securities.

“The market was probably being cautious because we can get disappointing numbers after getting good num-

5 Aman Futures executives surrender at Department of Justice.

Partnership makes CTPL insurance available in Cebuana pawnshops A PARTNERSHIP between Cebuana Lhuillier Insurance Solutions, Inc. (CLIS) and motorcar insurer Federal Phoenix Assurance Co., Inc. (FPAC) will make compulsory third party liabilit y (CTPL) insurance policies available at Cebuana Lhuillier pawnshops starting in January.

Gerard S. Arga, FPAC assistant vice-president for sales and marketing for distribution and branches said Cebuana CTPL insurance is the first of its kind in the Philippines.

“This is the first time that a CTPL product will be available to consumers through a pawnshop.

We came toget her and thought, maybe we should find a new way to issue pol icies. Cebua na is a licensed insurance agent and they have the best network, so we saw that as an opportunity,” Mr. Arga said.

President ia l Decree No. 1460 or the Insurance Code of the Philippines mandates owners of private cars, commercial vehicles, or public utility vehicles to purchase CTPL insurance prior to renewal of their vehicle’s registration with the Land Tra nspor t at ion Of f ice (LTO).

bers in the first two quarters.

Apparently it didn’t disappoint and we were treated to a pleasant surprise,” Vistan.

The National Statistical Coordination Board said the Philippine economy grew 7.1 percent in the third quarter, exceeding analyst expectations of 5.4-5.5 percent. This led the country’s GDP to expand by 6.5 percent in the first nine months, or above the high-end of the government’s full-year target range of 5-6 percent.

Share prices went up to record high as business confidence continue to grow.

INVESTORS should watch out for schemes guaranteeing high returns to avoid being duped by pyramid scams, BPI Asset Management said in a report yesterday.

In light of the Ponzi scheme allegedly orchestrated by the Aman Future Group Philippines, Inc. which fleeced some 15,000 low-income investors of as much as P12 billion, BPI urged people not to be blinded by the promise of sizeable yields.

“Investment scams are not new. Despite media attention, Ponzi schemes are still successful simply because investors are lured by the promise of spectacular returns,” BPI analyst Carlo Lorenzo Q. Cuevas said in a report published last week.

He stressed that high returns can be matched only by high risks -- it is the most basic investment principle.

“Returns on investments are never guaranteed... No one can predict the outcome of the market, not even the economic experts who assess economic performance on a full-time basis,” he said.

Aman Futures had promised its investors -- mostly farmers, fisherfolk, government employees, market vendors and the like -- a 30-40% return on investment within eight days and a 50-80% return within 18 to 20 days.

BPI also said investors should make sure they understand where they place their hard-earned money.

“A good investment manager should be able to clearly address your queries. An investment manager who cannot explain his recommended investment is a big red flag!” Mr. Cuevas said.

Aman Futures, which operated mostly in Pagadian City had told investors that the profit would come from a deal with Malaysian brokerage firm Okachi (Malaysia) Sdn. Bhd., a firm supposedly engaged in futures trading involving commodities such as oil, manganese, palm oil and nickel.

It turned out, though, that early investors were allegedly being paid using the contributions of new investors. The scam crumbled when Aman

Futures ran out of money to pay their stable of investors the promised yields.

Lastly, BPI Asset Management urged investors to deal only with institutions that have built a solid track record over time.

“Research on the background of the company, its owners, its management and the reputation it has built over the long-term.

Looking at investment returns alone is like targeting a destination without looking at the reliability of the vehicle that will bring us there,” Mr. Cuevas said.

The investment manager should be able to profile the investor and recommend an appropriate product, detailing clearly the risks that come along with it, he explained.

Aman Futures founder Manuel Amalilio has since f led the country when his offices were shut down in September. Intelligence reports place him in Kota Kinabalu and the Justice department has assured that talks are ongoing with Malaysia to secure the suspect.

SMALL and medium-scale enterprises (SMEs) in the cities of Batangas, Cagayan de Oro and Iloilo have another financing option to grow their businesses.

A $35-million credit facility was launched recently by the United States Agency for International Development (USAID) with the Bank of the Philippine Islands (BPI) and the BPI Family Savings Bank (BFSB).

“We hope that this facility will expand access to capital for Filipino entrepreneurs to allow them to improve and expand their businesses,” said USAID Mission Director Gloria Steele in a business conference.

She earlier said that the credit facility would help reduce SME collateral requirements and allow entrepreneurs to explore new markets.

Steele said the eight-year

facility is intended to encourage lending to SMEs in cities outside Metro Manila that were selected in USAID Cities Development Initiative (CDI).

After piloting the credit facility in the cities of Batangas, Cagayan de Oro and Iloilo, it will be scaled and expanded to additional cities in subsequent years.

Steele expressed optimism that this increased access to credit would encourage the creation of more businesses and translate to more income and employment opportunities for Filipinos.

An integral part of the U.SPhilippines Partnership for Growth (PFG), the CDI aims to develop secondary cities as economic growth areas.

“Cities can serve as centers for industrial production, delivery of essential services,

marketing and distribution points, and gateways for trade and investment that effectively link the rural sector to the urban economy,” said Steele.

Apart from this credit facility, the USAID CDI is supporting high-growth industries in the area of human resource development in a bid to promote economic growth.

Steele said the agency has partnered with the Philippine Business for Education (PBEd) to provide support to establish or strengthen industryacademe partnerships in the CDI sites.

“Not only will this address the gap between market demand and skills production, this will also spur science, technology and innovation, especially in the manufacturing and agri-business sectors,” she said. -- Danielle Venz

High investment returns should trigger alarm bells

USAID, BPI offer new financing option for small businesses

A C T PL i n s u r a nc e covers the loss of life or injuries sustained by a third party in an accident involving the registered vehicle.

Mr. A rga ex pla i ned that Cebuana CTPL will allow vehicle owners to get or renew their CPTL policies at over 1,700 Cebuana Lhuillier pawnshop outlets nationwide. “ T hey on ly need to bring a copy of the LTO certificate of registration together with the official receipt,” he said.

“Insurance claimants with Cebuana CTPL can also now file their claims at the pawnshops by just submitting valid and com-

plete claims documents,” added Mr. Arga.

Jonathan D. Batangan, CLIS genera l manager, said a web-based claims management system interconnec ts Cebua na Lhuillier’s entire branch network, making it easy for the firm to process any transactions.

“We are also connected with the BIR (Bureau of Interna l Revenue) a nd the LTO so we can remit the applicable taxes immediately and also relay t he re g i st r at ion,” M r.

Batangan said.

He added the product will be offered at Cebuana Lhuillier outlets beginning January.

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Soul Sickness THINK a minute…

Have you at one time been sick, but you knew that doctors and medicine could not help you? What did you do? Who did you go to?

The village medicine man or woman for traditional medicine?

Recently I read about a medical doctor who was very sick. But instead of treating himself or going to another medical doctor, even a traditional medicine man, he called a preacher. This doctor told the preacher that he was desperately sick, not in his body, but in his soul and conscience.

The doctor said: “All my

allan mediante

NELSON CONSTANTINO Editor-in-Chief Dolly pelone Advertising

executive Editor

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JOE DEL PUERTO FELICILDA Uriel C. Quilinguing Editorial Consultants

RIZA O. ARES LIEZL A. DELOSO JOE PALABAO Rene Michael BaÑos

Speaking out

ATTY. MARIO T. JUNI atty. roberto a. cantago jr.

Marketing Consultants Legal Counsels Member: -Philippine Press Institute -Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) -Misamis Oriental - Cagayan de Oro Association of Publishers (MOCAP), Inc.

Culture “languages” in the strict and sense of the term.

Viewpoints proper Second is that neverthe-

ARCH. OSCAR V. CRUZ (Ret)

WHEN tak ing a look at and/or studying a culture of people, there are usually two ways of doing this in order to know its “in’s and out’s” and to understand its “outside in” as well as “inside out.”

Thus, it is that considering the Filipino art, tools, and way of saying and doing things – the Filipino behavioral modes and social interactions, and the Filipino customs and traditions plus value system and pursuant behavioral pattern – the three following more distinct and particular features are particularly found in the Filipino culture: First is that the Philippines is a pluralist society with diverse cultural heritages.

This reality is more readily and specifically verified even but the many “talks” – native, foreign, mixed – used or spoken in the country.

Such is their differences and distinctions that they are no longer called “dialects” but

less, there is some kind of a generic Philippine culture with a common structure of social and ethnic values. For one thing, though divided by many languages and islands, the country still remains one in reality and spirit through the accommodation of separatist movements not only in Mindanao but also in Luzon.

Third is that the most common and basic social ethnic trait of Filipinos is their family orientation plus pursuant perspective and consequent preferential consideration.

Said domestic reality is in effect, one of the Filipino traits that foreigners readily notice. From birthday to death anniversaries, these are occasions for families to gather.

Following are some of the most noticeable Filipino cultural features: “Palakasan” or influence seeking “Pakikisama” or indiscrimate collegiality. “Kahihiyan” or shame unlimited. “Bigayan” or give and take. “Utang na loob” or undying gratitude.

“Nasa Dios ang awa, nasa tao ang gawa,” a saying that God and man are partners in having things done.

At the other end of the above said Filipino culture, values and traditions is the undeniable fact of globalization and the consequent deculturation of the country – that is true not only for the Philippines but for cruz/PAGE 7

IGNACIO BUNYE

PUBLISHING a book is akin to giving birth.

Almost two years after I finally decided to compile my weekly Speaking Out columns into a book, we are finally ready to launch “Central Banking for Every Juan and Maria” this week.

I wrote “Central Banking for Every Juan and Maria” for the person with zero to very little background knowledge on banking and finance who would like to know more about central banking in the Philippines.

This person may be a

life I’ve carried this guilt and memories of all the wrong things I’ve done. My guilt has become like a disease or cancer that’s killing me inside, and I’m not able to find a cure for it!”

The doctor asked the preacher to pray for him, and sure enough, the doctor was healed and free from his guilt.

That doctor was right. You and I can never get free from the guilt of our past wrongs.

The cheap sex we had with that person who’s not our wife or husband. Our lying and stealing in business or at our job. Our getting drunk and beating up our own wife and

children. Aborting our baby.

These and many other memories of our wrongs continue to hurt and shame us wherever we go, so we cannot escape. They’re inside our mind and conscience like a disease or cancer.

It’s true: there is no medical doctor or traditional medicine that can cure our guilty conscience. Humans have no cure for it. Only God the Son can make you free and healthy.

If you and I will simply admit we are guilty of all our sins and ask Jesus to give us His gift of forgiveness and new life, then our sick soul and conscience can finally

Think a minute

JHAN TIAFAU HURST

be free from all our guilt!

For your own health and happiness, why don’t you ask Jesus for His gift of forgiveness and new life today?

Just think a minute…

For Every Juan end Maria junior in high school just starting to take up economics, or even someone who graduated from a different, unrelated course.

She or he may be the type of person who expresses interest in the business page but wonders what it all means, or she or he may even be the type who skips the business page altogether.

“Central Banking for Every Juan and Maria” focuses particularly on the functions of the Bangko Sentral ng Pilipinas (BSP) and how it affects the lives of ordinary Filipinos.

In conceiving of the book, I thought of the layperson and how he or she would better appreciate the BSP if its operations were explained in bite-sized pieces.

A lit t le backg rou nd: When I joined the Monetary Board of the Bangko Sentral on July 3, 2008, I started writing about the BSP and the financial system in my weekly newspaper column, Speaking Out.

As my financial articles came out each week (Monday to be specific), non-economists called and e-mailed me, commenting positively on the manner in which the content was presented.

The turning point was when former Foreign Affairs Secretary Alberto G. Romulo suggested that I compile the articles into a book. I actually owe him this great idea of coming up with “Central Banking for Every Juan and Maria.”

I would like to point out that economists and bankers may not like their work explained so simplistically, but as I explained earlier, this book was written for a different audience.

“Central Banking for Every Juan and Maria” is organized into 16 chapters that contain articles covering a wide array of topics.

Some articles are pretty straightforward, while others come with a glossary or a question-and-answer portion to further explain

the topic. This portion is either enclosed in a text box or marked with special Juan and Maria icons.

Several articles will refer you to related articles located somewhere else in the book, while some will suggest a website for further reading.

However, most of the articles are written as standalone articles. Readers are free to skip around if they prefer not to browse the book from cover to cover.

But if I may make a suggestion, if there is one chapter I highly recommend, it would be Chapter 13. Economic and Financial Education, for the very reason that it is possible for every Filipino to make sound economic and financial decisions whether or not he or she took up Economics, or whether she or he is a school drop-out or a learned scholar.

I am discovering that even those who work at the BSP are appreciative of constant reminders on economic and bunye/PAGE 7

Tweaking IT’S a practice done usually

by IT practitioners. They like to tweak on their gadgets, since many of these items, given the rapidity of the innovations taking place now, plus the delicateness into which many of them get, need to be given little adjustments here and there.

But it’s a practice that should also be done on our most important aspect of life. And that is our spiritual life, our life of relation with God and others, which we should try to fill with love and all the goodness that we can put into it.

We should never consider our spiritual life as too private or too personal as to keep it always away from some public discussion meant for the good of all.

There certainly confidential matters involved, but there also are many elements that need public ventilation. And one of them is the art of tweaking.

More than the gadgets,

our spiritual life, whose seat is our mind and heart, is subject to constant multiple factors. It was St. Augustine who once said that the thoughts and motions that pass through our mind and heart in an instant can exceed the number of our hair. When I read that line, I immediately agreed.

Not only do we have to contend with our own ideas, intentions and plans that just come and go, we also have to cope with the many challenges, pressures, goals, not to mention, temptations and other crazy things that can come to mind. We cannot help but really take care of our spiritual life if only to keep our sanity.

Our usual problem in this department is that many of us seek comfort and relief through some inadequate if not dangerous means. Some just ignore the conditions of their mind and heart.

Others resort to artificial means—a tonic drink,

a massage, psychological conditioning, Still others do worse as they indulge in drugs, sex and other forms of deadly escapism.

Spiritual tweaking can take the form of a daily examination of conscience, done usually just before going to bed. It’s an effort to review how our day went, to see if love or something else was the main motive of our thoughts, words and deeds.

Truth is there will always be some adjustments to be made, usually small but from time to time big. We need to fine tune the purity of our intentions, for example, or we need to polish a particular virtue that did not work quite well that day.

Or we need to be more guarded against certain weaknesses and bad tendencies we have, like rash judgment, gossiping, cheating, sensuality, pride, greed, laziness, etc.

Given our spiritual nature, there is always room for

Hints and traces

FR. ROY CIMAGALA

improvement in our virtues and need for struggle, since our heart will always be an arena between the forces of good and evil. This will be our lifelong condition.

But all this tweaking is done in the presence of God, confident of his fatherly care and love for us. And so it is moment that can give us great peace and reassurance. God always forgives and understands. It is his delight to do so. We should strengthen this conviction cimagala/PAGE 7

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Bunye... from page 6

f inancia l education and planning.

If you are an OFW or have a loved one who is, Chapter 5. BSP as Implementor of an Efficient Payments and Settlements System, would be a good supplement to Chapter 13. Economic and Financial Education.

Cruz... from page 6

practically all Third World Countries in the world.

It is experienced and duly noted that other than its economic impact, globalization carries much un-Filipino socio-cultural influence.

Among other negative effects of globalization to Filipino culture are: Lesser family values. More hedonistic perspective. Lesser recognition of Divinity. More materialistic dependence.

Lesser community spirit.

More individualistic orientation. Where will all such ill-effects of globalization bring the Filipino culture?

Just asking.

Cimagala... from page 6

in ourselves, because this is crucial in our spiritual life.

We should never feel alienated from our father God, no matter how bad or sinful we may be. It would be good to keep in mind the parable of the prodigal son whenever we have problems in this area.

Whenever we decide to say sorry, there will be no prob-

PHL’s 7.1% GDP in Q3 highest in ASEAN

PHILIPPINE gross domestic product (GDP) hit a two-year high of 7.1 percent in the third quarter of 2012, the fastest economic growth within the Association of Southeast Asian Nations (ASEAN).

Indonesia came in second with 6.2 percent, followed by Malaysia (5.2%), Viet Nam (4.7%), Thailand (3%) and Singapore (0.3%). China, however, posted a 7.7-percent GDP growth during the period.

“We are well on our way to surpassing our growth target of 5 to 6 percent this year,” Socioeconomic Planning Secretary Arsenio Balisacan said in a press briefing Wednesday. He expressed optimism the country would post a much higher growth of 6 to 7 percent.

Third-quarter economic figure brought the average GDP for the first three quarters of the year to 6.5 percent from measly 3.9 percent last year.

Balisacan believes that the country’s strong macroeconomic fundamentals can contribute to the resiliency of the Philippines to global

economic uncertainty.

“These do not prevent us from moving forward,” he said, referring to the problems in the Euro area and the looming fiscal cliff in the United States.

Balisacan noted that the economic expansion continued to be broad-based, as almost all sectors posted higher year-on-year growth rates.

He said services that grew 7 percent accounted for the lion’s share of the GDP in the third quarter at 58 percent.

This was mainly led by trade and real estate.

Balisacan, also the National Economic and Development Authority (NEDA) director general, attributed the industry sector’s 8.1-percent expansion to robust growth of the manufacturing sector.

“We hope that the industry sector would expand much faster. In particular, we hope to see a faster growing manufacturing sector,” he said. “We are counting on a growing manufacturing sector to provide the higher

quality jobs that are also more stable and remunerative.”

The agriculture sector, on the other hand, performed better during the third quarter than in the previous quarters, growing by 4.1 percent from 2.2 percent last year.

The rebound of the net primary income from abroad by 4.9 percent pushed the gross national income (GNI) to 6.6 percent in the third quarter from last year’s 2.2 percent.

With this robust economic growth, Balisacan believes that government’s efforts at good governance are beginning to bear fruit.

“But we know that our task is far from over. We continue to reform our systems in procurement and budgeting to promote transparency and accountability,” he said.

“At the same time, we are serious about addressing the huge backlogs in infrastructure, particularly transport, and the inefficiencies in the bureaucracy, particularly those that keep the cost of doing business unduly high,” he added. (PNA)

lem, and besides, we can cause immense joy in heaven if we return to God, as the gospel tells us.

So, this kind of spiritual tweaking is not an exercise in obsession. It is done in the context of love between God and us, between father and child. If done in this way, we will avoid the pitfalls of irritation, nervousness, shame, fear

and the like. We will also avoid being too fussy with things and fastidious with people.

On the contrary, we will exude an aura of goodness around. We will manage to maintain confidence and dominion over our faculties and powers. We will have good relations with others, as we would become more simple and humble, more transparent, and

therefore, more approachable and friendly.

We have to cultivate this practice of spiritual tweaking, and work to make it a living part of our culture. We can be certain that it will only produce good results in our lives, helping us to be more charitable with each other, and more important, to be truly holy.

7

DA-Davao to award winning schools for ‘Gulayan’ program DAVAO City -- The Department of Agriculture (DA) in the Davao Region will award the most outstanding public schools in carrying out the “Gulayan sa Paaralan” program.

Melanie Provido, chief of DA’s high-value crop division, said on Wednesday the awarding will be held at the Pinnacle Hotel here on December 7.

“The awardees are schools that showed outstanding performance in implementing the program,” she said.

However, Provido refused to disclose the nominees this year as the results will remain confidential pending the final announcement of the judges.

She said the program was started in 2007 after theneducation secretary Jesli Lapus issued a memorandum encouraging all public schools to plant agricultural

crops within their area as one way of addressing the problem with hunger and malnutrition. It also aims to encourage public schools to utilize vacant areas in their schools for planting of various crops.

It also wishes to raise the public’s awareness on the nutritional value of vegetables to a child ’s development and learning process. As counterpart to the project, DA will provide each school with vegetable seedlings for the program implementation.

Schools were tasked to plant vegetables in vacant lots to have an alternative source of food for the school’s feeding program.

The program also encourages the active participation of children, teachers, as well as parents to join in the government’s drive to address the country’s problem with malnutrition.(PNA)

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

8

Friday-Saturday I Nov. 30-Dec. 1, 2012

Agri News

PH rice self-sufficiency by 2013 not possible: study THE Philippine government’s target for rice self-sufficiency by 2013 is not achievable, according to a study commissioned

by Philippine Institute for Development Studies (PIDS).

The government’s Food Staples Sufficiency Program (FSSP) targets, of which rice is a major component, are based on highly ambitious and unrealistic projections, said Senior Research Fellow Roehlano Briones.

Under the program, palay yield should increase to 4.53 metric tons (MT) per hectare (ha) from 3.78 Mt/ha, and production from 17.0 million MT to 22.7 million MT over the period of 2011 to 2016, corresponding to annual growth rates of 3.8 and 6.3 percent, respectively.

Briones said these growth projections are clearly unattainable considering that historically, yield and production grew by a meager 1.5 and 3.2 percent, respectively, from 1994 to 2010.

The study showed that the only way to achieve rice self-sufficiency is to increase import barriers.

The study said protectionist policies would also make rice in the local market substantially more expensive and therefore will jeopardize the country’s pursuit for food security.

It further suggests that a closer look at the underlying

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Irrigation projects in Zambo Norte okayed

ZAMBOANGA City -The National Irrigation Administration (NIA) has earmarked a total of P243.5 million for three irrigation projects being implemented by the agency in Dipolog City and a municipa lit y in Zamboanga del Norte.

Dipolog Cit y is t he capital town of the province.

Dionisio Solutor io, head of the institutional services division of NIAZamboanga del Norte, said that P100 million is for the repair and rehabilitation of the Dipolog Communal Irrigation System, which covers 1,087 hectares of rice fields in six barangays.

The amount of P23.5 million was allotted for the construction of a communal irrigation project economic forces and economic consumption and rice afford- various strategies such as im- in Barangay Diwan. behaviors of producers, con- ability, among others. proving irrigation, sustaining Solutorio said that the

sumers and markets will reveal that increasing rice production alone would not eliminate importation.

Because of this, rice selfsufficiency target is unlikely to be achieved, whether in 2013 or even through the course of the decade to 2020, Briones said.

Briones noted that the goal of self-sufficiency should not be equated to zero imports; rather, the goal should be based on a broader set of criteria such as nutritional norms for rice

Briones urged the government to rethink its policy.

The Food Staples Sufficiency Program, one of the banner programs of the Department of Agriculture, is envisioned as a coherent plan toward achieving rice self-sufficiency or zero importation starting 2013.

To achieve this goal, the budget allocation for agriculture has been increased to P55 billion for 2013, a sharp increase compared to its 2010 budget of 33 billion to fund

research and development for new crop varieties, promoting mechanized on-farm and postharvest strategies, and harnessing the potential of high-elevation and upland rice ecosystems.

The government targets to increase rice production to 20.04 million MT in 2013, a level that the government deems sufficient enough to feed the entire nation. By 2014, production is expected to hit 21 million MT and 22 million MT by 2015 and 2016.

Team... from page 11

chaired by the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) and the members are coming from various government agencies and private entities involved in agribusiness, manu-

Diwan irrigation project would benefit 65 rice farmers.

But for its bigger project in the province, the NIA has allocated P120 million for the completion of the communal irrigation project in Sindangan town with an irrigable area of more than 1,000 hectares.

NIA-Zamboanga del Norte Provincial Irrigation Manager Carlos Sabado has also expressed his gratitude to Rep. Rosendo S. Labadlabad of the province’s second district for facilitating and helping in the release of said funds.

The construction of irrigation systems throughout the country seeks to complement the government’s efforts to improve rice production to attain food security in the country, Sabado said.

facturing, mining and construction, academe and industry clusters.

Members of the special committee are also organized into three support committees that would focus on data collection, capacity building and training and evaluation.

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Siam... from page 1

of P140.48 million. Its bank information sheet as of June 30 showed that the bank was 40-percent owned by Ma. Teresa F. Sarraga, with Jose Luis F. Sarraga and John Mark F. Sarraga each owning 18 percent of the lender.

Its chairman and president are Francisco B. Sarraga and Lope L. Bato, Jr., respectively.

To inform all depositors of the requirements and procedures for filing claims, PDIC said it will conduct a forum from November 29 to December 3, during which claim forms will be distributed. The schedule and venue of the forum will be posted in the bank premises and on the PDIC website.

The state insurer said depositors may update their addresses with their representatives at the bank premises or during the depositors’ forum using the depositor update forms until December 7. Duly accomplished depositor update forms should be submitted to PDIC representatives, accompanied by a photo-bearing ID of the depositor with signature.

Depositors with valid savings accounts amounting to P15,000 and below, who have no outstanding obligations with Siam Bank, and who have complete and updated addresses need not file deposit insurance claims.

PDIC said it will start mailing payments to these depositors by the third week of December.

The following however should file their deposit insurance claims: - Depositors whose savings accounts have balances of more than P15,000; - All depositors who are holders of certificates of time deposits (CTDs); and - Depositors who have outstanding obligations regardless of type of account.

The inclusive dates and schedule of the claims settlement operations for these

accounts will be announced by the first week of January 2013 through notices to be posted in the bank premises and other public places as well as through the PDIC website.

But an unconfirmed report said a legal entanglement may ensue in PDIC’s takeover of Siam Bank as an Ozamiz-based business entity has already infused liquidity into the bank.

BusinessWeek Mindanao is still trying to verify the report as of press time.

Primavera... from page 1

signers and developers of Primavera Residences, presented the project to the forum last October 22, where it qualified as one of 18 projects with “great quality and potential” selected by the organizers from the 41 entries submitted.

As one of those which qualified for the second stage of the AFCEF-3 Business Plan Competition, Primavera received coaching from professional experts, who helped create a financially, socially and environmentally viable business plan.

Andi C. Ramos, Italpinas vice president-operations, attended the Project Development and Financing Workshop in Singapore last November 9.

Primavera Residences had previously been recognized by the South East Asia Property Awards as one of the Best Condo Developments in the Philippines in 2011.

A P250-million 10 storey twin-tower condominium designed by ITA PROJECT, an award-winning Italian architectural design firm based in Rome, Italy and developed by Italpinas, its business plan was previously cited as one of the most promising clean energy investment opportunities in the Philippines during the 2nd annual Philippines Clean Energy Investor Forum held in Manila in 2011.

The Asia Forum for Clean Energy Financing (AFCEF-3) will be held on 22nd February 2013 in Singapore, where Primavera and the 18 other qualifiers will have the opportunity to present their respective business plans to invited investors for consideration. The forum aims to facilitate a marriage between entrepreneurs, their ideas and projects and investment.

In addition, a panel of investors, industry specialists and business executives who have a keen interest in enabling cleaner and greener projects will select the best projects for the CTI Asia Clean Energ y Financing Awards.

Up to four projects may be selected for presentation at the Sustainable Energy Association of Singapore’s (SEAS) Renewable Energy Investor Forum on 23 October 2012 held under the Asia Future Energy Forum 2012.

AFCEF-3 is sponsored by the Climate Technology Initiative (CTI) and its Private Financing Advisory Network (CTI PFAN), the United States Agency for International Development (USAID), the Energy for All Program of the Asian Development Bank (ADB), the International Center for Environmental Technology Transfer (ICETT).

The Financing Forum will be organized in cooperation with Dawn Consulting, CleanEnergy Solutions International (CSI), PPL International, the Sustainable Energy Association of Singapore (SEAS) and ReEx Capital Asia.

“The world faces the daunting combination of surging energy demand, rising greenhouse gas emissions and tightening resources. A global energy technology revolution is both necessary and achievable; but it will be a tough challenge.

No single form of energy or technology can provide the full solution.” (Nobuo

Tanaka, Executive Director of the International Energy Agency (IEA) Tokyo, June 2008)

GMA... from page 1

saying we believe in Northern Mindanao, its people and its future.”

Since its satellite station was launched in 2009, Ms. Escudero said tremendous growth has always been the hallmark of GMA in Cagayan de Oro. From its 205 percent growth in 2009, GMA Cagayan de Oro exceeded sales targets by 52% in 2010 and again by 53% in 2011.

“Flood waters cannot keep Northern Mindanao down,” Ms. Escudero stressed. Cagayan de Oro rose to its feet and we know this to be true because our sales this year improved from last year, despite Sendong by, we reckon , a healthy 60%.”

The GMA executive said “this bionic economic recovery proves just how resilient CdeO and Northern Mindanao are. This resiliency is because of its people.

All of you here today are the driving force that made Northern Mindanao and CdeO overcome and triumph over the ravages of Sendong.

How can GMA Network not long to be part of this success story? “ In a show worthy of the country’s leading broadcast network, GMA pulled out all the stops with production numbers featuring all-girl pop trio La Diva and local heart throb Mark Bautista.

First established for the show SOP, La Diva boasts of two winners and a runner-up of Pinoy Pop Superstar, Jonalyn Viray, Aicelle Santos, and Maricris Garcia.

Hosted by Kapuso Network Contract Star Chynna Ortaleza, the event was also graced by top network execs VP for Sales and Marketing Regional TV Oliver Victor B. Amoroso, Asst. Vice President for Regional News Cel Rosales-Amores, Senior

Program Manager for Regional Entertainment Jocelyn Bautista-Pacleb and GMA Cagayan de Oro Station Manager Armi E. Sobremisana.

Local celebrities also graced the occasion led by Cagayan de Oro Tourism Board Chair Rhia Rita Abalos, Cathy Tan of Iligan City’s legendary Cheding’s Roasted Peanuts, Mags Cue of mags , Cagayan de Oro’s signature fashion store, Misamis Oriental Provincial Board Member Jimmy Caiña, BusinessWeek Mindanao Group of Publications Media Mogul Dante Sudaria and his lieutenants Allan Mediante and Joe Felicilda, Ruchelle Bangis of Mindanao Gold

Star Daily, Pat Noel of the Iligan City Tourism Office, SunStar Cagayan de Oro’s Nicole Managbanag and Joey Nacalaban, STEAG State Power Inc. Communications Officer Jerome R. Soldevilla and his guest from Germany Hasan Guerpinar, Corporate Communications Officer of Hitachi Germany.

“For those of you who came tonight, know that GMA Network is here to celebrate Northern Mindanao’s recovery and together, we will work hand in hand to realize the dream of a progressive Northern Mindanao, where the flow of progress is as free as the flow of information,” Ms. Escudero said in closing.

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Property

Friday-Saturday I Nov. 30-Dec. 1, 2012

PHILIPPINE REALTY & Holdings Corp. (PhilRealty) has moved to forge a deal with majority investor Greenhills Properties, Inc., for the development of the latter’s property in Bonifacio Global City (BGC) into a future mixed-use project, PhilRealty said in a disclosure on Wednesday.

“In its regular meeting today, our board of directors approved the signing of a memorandum of agreement with our principal shareholder, Greenhills Properties, whereby the company undertakes to prepare at its sole expense, a master plan for the development of Greenhills Properties’ 6,400-square meter property at Bonifacio South District, BGC,” the disclosure read.

“The signing of the agreement will take place as soon as we finish evaluation of proposals solicited from local as well as foreign architectural firms. The preparation of the conceptual master plan will take thee to six months, after which our company and Greenhills Properties intend to enter into a definitive joint-venture agreement,” the disclosure added.

In its disclosure, PhilRealty described the property owned by Greenhills Properties as being comprised of four 1,600-square meter lots, bounded by 5th Avenue, 25th Street, 6th Avenue, and 24th Street.

“A mixed-use development is envisioned with retail, residential, office, and serviced apartments components,” PhilRealty said.

Incorporated in 1981, PhilRealty has been engaged in the development and sale of residential and office condominium projects as well as the lease of commercial and office spaces.

BANKS will soon have to report their real estate loans in relation to their capital as the Bangko Sentral ng Pilipinas (BSP) aims to get a better idea of their exposure to the industry.

“Based on yearend data, we will ask banks to relate their total real estate exposure to their total capital base.

This is another indicator to measure banks’ exposure to the real estate industry,” BSP Deputy Governor Nestor A. Espenilla, Jr. told reporters at the sidelines of the Chamber of Thrift Banks membership meeting last week.

The central bank will not change the cap on real estate loans, currently set at 20% of total loan portfolio, but this doesn’t present a com-

plete picture of real estate exposure, he explained.

“Bank A can have a real estate portfolio equivalent to 15% of its total loan portfolio, below the BSP’s ceiling. But that bank also has a capital base and that 15% could be equivalent to 100% of its capital,” Mr. Espenilla said.

A cap on the real estate loans in relation to total capital will not be imposed -- at least not yet.

“We will not impose a limit. There is no reason to do so, so far. But those are

available instruments,” Mr. Espenilla said.

The BSP maintains there is no asset price bubble in the real estate industry, with banks’ exposures also well within the imposed cap.

However, t he centra l bank is “ just very watchful,” especially as the real estate industry was ground zero during the 1997 Asian financial crisis and the 2008 financial crisis.

While a ceiling is not yet in the cards, Mr. Espenilla said this is a signal that has been sent out by the BSP to banks.

“It’s a signal we are watching. We will be remiss if we don’t send the signal,” he said.

Also at the same event,

GOTIANUN-LED FDC Hotels Corp. aims to expand its f lagship Crimson hotel chain into wellk now n vacat ion loca le Boracay Island to take advantage of a robust outlook on the local economy and, particularly, the tourism sector, a senior company official said Tuesday.

“We have expansion plans to continue investing in our brand Crimson.

Right now, we’re opening Crimson in Filinvest City, and now we’re planning a Crimson in Boracay,” Francis C. Gotianun,

Filinvest Hotels assistant vice-president, said.

“It’s going to be a 190room, five-star property just like our five-star property in Crimson Mactan,” Mr. Gotianun explained, adding that the planned hotel in Boracay will be bui lt “near Sha ngri-La [Boracay Resort & Spa] in Barangay Yapak,” when asked about its location.

GROWING FDC Hotels, a wholly owned subsidiary of listed hold i ng f i r m Fi l i nvest Development Corp., was incorporated in 2011.

FDC Hotels’ current two-project portfolio includes Cr i mson Beach Resort and Spa, a 290key deluxe beach resort complex in Mactan Island,

NOTICE OF EXTRA-JUDICIAL SALE EJF No.: 170-07-2012 Upon the Extra Judicial Petition for Sale under Act 3135 / 1508, as amended, filed by the 1ST Valley Bank Inc., Baroy, Lanao del Norte against JOEL G. BUHISAN, Baroy, Lanao del Norte to satisfy the indebtedness which as of October 2, 2012 amounting to FOUR HUNDRED THIRTY THOUSAND PESOS (Php 430,000.00) excluding penalties, changes, attorney’s fee and expenses of foreclosure, the undersigned or his duly authorized deputy will sell at public auction on 27th day of December 2012 at 10:00 AM or soon thereafter at the Regional Trial Court, Branch 07, Poblacion, Tubod, Lanao del Norte, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all its improvements, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-16709 “A parcel of residential land known as Lot No. A-3-A, Psd-123503020279, situated in Upper Sagadan, Municipality of Baroy, Lanao del Norte, Island of Mindanao, Philippines, containing a total area of One Thousand One Hundred Ninety Eight (1,198) square meters, more or less including all improvements found thereof and particularly bounded as follows; Lot No. A-3-A, Psd-123503-020279 Bounded on the North, along line 2-3 by Lot-A-3-F, both of the subdivision plan, Psd-123503-020279 on the South East along line 3-4 by property of Bernardino Alvia. On the South West, along line 4-1 by Lot A-3-E of the subdivision plan. (Road Lot) “All sealed bids must be submitted to the undersigned on the above stated time and date.

Tubod, Lanao del Norte, Philippines, this November 6, 2012.

BWM: NOV. 16, 23 & 30, 2012

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Mr. Espenilla revealed the central bank is preparing guidelines for the crossselling of “simple” financial products. The rules were already exposed to the private sector for comments, and their inputs are now being processed.

“Given what I’ve seen, it’s moving along. There is a very good chance we should be able to issue the framework before the end of the year,” he said.

Current ly, banks are allowed to cross-sell only insurance products.

The central bank hopes to expand this so “simple financial products” such as “a generation of credit products” are included.

The draft guidelines also

propose to let bank subsidiaries sell products drawn by their parent banks. Thrift banks could be included in the open system too.

“The existing guidelines are rather restrictive. There is an opportunity to make the framework more open now,” Mr. Espenilla said.

Other than the framework for the cross-selling of “simple” financial products, separate guidelines are being formed for “complex” ones like investments.

“Those are coming soon too, but not at the same time as the rules for simple products,” Mr. Espenilla said.

He earlier said that rules would cover trust products, but legal and security issues remain.

L apu-L apu Cit y, C ebu that is managed and operated by Filarchipelago Hospitality, Inc., a joint venture between Filinvest Development and Singapore-based Archipelago International Pte. Ltd., as well as the 400-plus-room Quest Hotel and Conference Center, a three-star hotel development in Cebu City.

This comes as Crimson Hotel Filinvest City in Alabang, Muntinlupa City, a 345-room, five-star development that forms part of Filinvest Cit y’s four-tower Entrata Urban Complex beside Festival Supermall, is slated for opening this month.

Mr. Gotianun noted that attractive prospects for hotel operations in the Philippines are being driven by robust economic f u nd a ment a ls a nd t he continued inf lux of tourists into the country.

“As our economy improves, there proves to be more opportunities for us hotels; that is why we continue to invest in this period. The Philippines is one of the fastest-growing inbound tourist markets, and we have a strong local economy,” he said.

‘A LOT OF BUSINESS’ From January to Sep-

tember, tourist arrivals rose 9.08% to 3.15 billion visitors from the previous year, according to data posted on the Tourism department’s Web site. “ T he Ph i l ippi nes is beautiful and fun, there is a lot of business to do here,” Mr. Gotianun added.

Aside from Boracay, FDC Hotels is interested in putting up another Crimson project, Mr. Gotianun said, even as he declined to elaborate.

“We have one another on the drawing board, but I think it’s still too early to talk about that,” Mr. Gotianun said.

FDC Hotels also plans to build a new Quest hotel in addition to its existing Cebu development.

“We’re looking at opening another one two years from now, but I cannot talk about that either,” Mr. Gotianun said further.

After the opening of Crimson Hotel Filinvest City, FDC Hotels is expec ted to have a tota l room count of 1,067, including those at Crimson Beach Resort and Spa and Quest Hotel and Conference Center. “We’re one of the largest local hotel operators,” Mr. Gotianun claimed.

Filinvest unit plans to build hotel in Boracay

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region OFFICE OF THE CLERK OF COURT EX-OFFICIO SHERIFF Tubod, Lanao del Norte

Republic of the Philippines REGIONAL TRIAL COURT OF LANAO DEL NORTE 12th Judicial Region OFFICE OF THE CLERK OF COURT EX-OFFICIO SHERIFF Tubod, Lanao del Norte

YOUR LOCAL ONLINE BUSINESS PAPER

Bangko Sentral readies new real estate exposure rules

Property deal in the works

BusinessWeek M I N DA N A O

For the Clerk of Court and Ex-Officio Sheriff CONRADO V. HINGCO, JR.

NOTICE OF EXTRA-JUDICIAL SALE EJF No.: 171-07-2012 Upon the Extra Judicial Petition for Sale under Act 3135 / 1508, as amended, filed by the 1ST Valley Bank Inc., Baroy, Lanao del Norte against EDDIE A. AVILA, Bag-ong Dawis, Baroy, Lanao del Norte to satisfy the indebtedness which as of August 2, 2012 amounting to ONE MILLION FIVE HUNDRED THOUSAND PESOS (Php 1,500,000.00) excluding penalties, changes, attorney’s fee and expenses of foreclosure, the undersigned or his duly authorized deputy will sell at public auction on 27th day of December 2012 at 10:00 AM or soon thereafter at the Regional Trial Court, Branch 07, Poblacion, Tubod, Lanao del Norte, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all its improvements, to wit: TRANSFER CERTIFICATE OF TITLE NO. T-22,930

“A parcel of residential lot situated at Bag-ong Dawis, Baroy, Lanao del Norte. Containing an area of One Thousand Three Hundred Eighty (1,380) square meters, more or less including all improvements found thereon more particularly described and bounded as follows; Lot No. 986, Pls-13

Bounded on the NE, line 6-1 by Lot 1960-G, Csd-10-000091-D, SE., line 1-2 by Lot 6441-J-1, line 2-3 by Lot 6441-J-2, line 3-4 by Lot 6441-1-3 all of Psd-10-046241; SW., line 4-5 by Lot 644-1 Psd-12-015100; SW., Line 5-6 by Lot 6441-H Psd-12-015100.

TRANSFER CERTIFICATE OF TITLE NO. CLOA-11,306 “A parcel of Irrigated Riceland situated at Bag-ong Dawis, Baroy, Lanao del Norte. Containing an area of Ten Thousand Two Hundred Thirteen (10,213) sqm. More or less including all the improvements found thereon more particularly described and bounded as follows; Lot No. 1960-G, Csd-10-00091

Bounded on the North along line 1-2 by Lot No. 1960-F, Csd-10-000091; on the East along line 2-3 by Lot No. 1957, Pls-13, on the South along line 3-4 by Lot No. 1960-H, Csd-10-000091 and on the West along line 4-1, by Lot No. 1960-E, Csd-10-00091.

“All sealed bids must be submitted to the undersigned on the above stated time and date.

Tubod, Lanao del Norte, Philippines, this November 6, 2012.

For the Clerk of Court and Ex-Officio Sheriff

CONRADO V. HINGCO, JR.

BWM: NOV. 16, 23 & 30, 2012

M I N DA N A O

www.businessweekmindanao.com

BusinessWeek M I N DA N A O

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www.businessweekmindanao.com

Economy

Friday-Saturday I Nov. 30-Dec. 1, 2012

11

PH economy accelerates by 7.1 percent in 3rd qtr BEATING expectations, the domestic economy accelerated for the third consecutive quarter to 7.1 percent this year from the 3.2 percent last year, the National Statistical Coordination Board said today.

The beyond expectation third quarter growth was driven by the services sector with the robust performances of transport, storage & communication, financial intermediation, and real estate, renting & business activities supported by the five con-

secutive quarters of sustained accelerated growth of the Industry and the seemingly weather tolerant agriculture sector.

With the upwardly revised second quarter Gross Domestic Product (GDP) estimate, the growth for the

first nine months of 2012 at 6.5 percent surpassed the upper end target of the 6.0 percent for the whole year, NSCB said.

On the demand side, increased consumer and government spending, increased investments in construction, and the third consecutive quarter of growth in external trade contributed to the highest quarterly growth since the third quarter of 2010.

TRUE to its vision of being an enterprise working towards enlightened and happier communities, A Brown Group of Companies has embarked on a noble task of helping provide tertiary education to six deserving Higaonon students presently enrolled at Bukidnon State University (BSU) in Malaybalay City, Bukidnon.

Now on their second year college, the A Brown Scholars enjoy full scholarship privilege which include among others full tuition fees, board and lodging, transportation, books and uniform allowances.

Of the six scholars, four are taking up secondary education courses: Liezl Salingay, Emegene Sanogan, Mailyn Lisboa and Melanie Sujetado while

the other two, Brian Camahay and Shiela Mae Camahay are into business courses.

A Brown Group President Robertino Pizarro said the scholars were selected from among Higaonon children of barangay Kalabugao, a far-flung tribal community east of Impasug-ong, near the provincial borders of Bukidnon and Agusan de Sur. In partnership with Opol Mayor Dexter Yasay, A Brown also extends educational assistance to 10 college students of Opol, Misamis Oriental. They are currently enrolled at Opol Community College.

Kalabugao, Impasug-ong, Bukidnon and Tingalan, Opol, MisOr are hosts to A Brown’s oil palm plantation operated

by its subsidiary company, A Brown Energy Resources Development Inc. (ABERDI).

Chosen on the merit of their interest to pursue higher education, the Higaonon scholars enjoy the privilege of being A Brown Scholars though they are required to comply with the company’s scholarship guidelines: maintain an average grade not below 85% or 2.0, in each subject taken for the semester, observe the highest level of moral decency, love of God, respect, diligence and positive attitude, Pizarro said.

The scholars are required to submit their grades attained in pre-lim, mid-term, semifinal and final examinations for evaluation.

The rebound of the Net Primary Income from the Rest of the World by 4.9 percent pushed the Gross National Income (GNI) to grow by 6.6 percent from 2.2 percent in 2011.

On a seasonally adjusted basis, GDP grew by 1.3 percent from 1.2 percent while GNI grew at a slower pace of 1.2 percent in the third quarter from 1.4 percent in the second quarter of 2012.

Agriculture, hunting, forestry and fishery sector grew by 0.2 percent, a slowdown from the 1.7 percent i n t he prev ious quarter while industry accelerated at 2.1 percent from 0.2 percent with all subsectors except for mining and qu a r r y i ng cont r ibut i ng robust ly to t he g row t h.

On t he ot her ha nd, t he services sector recorded a 1.0 percent growth for the

third quarter of 2012 from 1.7 percent in the previous quarter with the positive growth of all its subsectors.

With projected population growing by 1.7 percent to 96.0 million, per capita GDP grew by 5.3 percent, per capita GNI accelerated by 4.8 percent while per capita Household Final Consumption Expenditures (HFCE) upped its growth by 4.4 percent.

A Brown scholars are proud IPs of Bukidnon

Regional team formed to step up Davao’s competitiveness

0917-7154399 088-856-8562/63

By BEN D. ARCHE, Contributor

DAVAO City – A special body tasked to look into the competitiveness of Davao Region has been commissioned by the Regional Development Council (RDC) recently.

As this developed, the Department of Trade and Industry (DTI) in Region Xl lauded the RDC for creating the Regional Competitiveness Committee which is responsible in keeping track on the region’s competitiveness level.

“The committee will be monitoring the progress of the region and to determine if it continues to have an excellent investment climate,” Marizon S. Loreto, DTI-Xl regional director said in her talk during the recent roadshow on the National Competitiveness Council (NCC) here.

Included in the focus of the committee on improving the competitiveness are to identify the gaps and suggest solutions to improve the economic performance and competitiveness ranking, and to propose policy reforms.

The committee composed of representatives for the government and private sector will follow the format of NCC. DTI is the lead agency of the committee and coteam/PAGE 8

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