BusinessWeek Mindanao (June 12-13, 2023)

US$1 = P 56.098 FOREX PHISIX AS OF 6:00 PM JUNE 10, 2023 (SAT) 6,564.70 84.77 points 0.13 cents X

X

Briefly

DAVAO City – The Nayong Pilipino Foundation (NPF) is training some 50 tourism ambassadors from the Davao Region in preparation for the official launch of the “Philippine Experience” project in the area later this month. The “Philippine Experience” is the new promotional project of the Department of Tourism (DOT) that heralds the country’s rich heritage, arts, and culture through a series of caravans this year. It involves the development of caravans featuring culture, heritage, and arts unique to each region.

Coffee Expo

BUTUAN City – Two farmer’s groups from the Caraga Region have showcased their products at the Philippine Coffee Expo 2023 held from June 2 to 4 at the World Trade Center in Pasay City. The groups included the Casiklan Wheels Farmers Association, Inc. (CAWFAI) from Barangay Casiklan of Las Nieves town, Agusan del Norte province, and the San Nicolas Development Cooperative (SANIDECO) of Tagbina town, Surigao del Sur province. Both are beneficiaries of the Philippine Rural Development Program (PRDP) of the Department of Agriculture.

Basilan summit

ZAMBOANGA City – Top education officials and a senator have confirmed their attendance to serve as resource speakers in the first-ever Provincial Education Summit aimed at improving the quality of school education in Basilan on Tuesday. Basilan Gov.

Hadjiman Hataman-Salliman said among those coming to the summit are Senator Sherwin Gatchalian, chair of the Senate’s Committee on Basic Education, Arts and Culture; Department of Education (DepEd) Assistant Secretary Jesus Lorenzo Mateo; and Minister Mohagher Iqbal of the Ministry of Basic, Higher and Technical Education in the Bangsamoro Autonomous Region in Muslim Mindanao (MBHTEBARMM). Salliman said the summit focuses to empower and capacitate the teachers and administrators of both public and private schools across Basilan.

BARMM guvs forge pact for peace, devt

By GERRY GORIT Reporter

THE governors of the five (5) provinces comprising the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) have forged a unified effort that would enhance harmonious and lasting peace, strong adherence to the rule of law

and inclusive governance for development in the region.

On Tuesday, June 6, the BARMM Governors’ Caucus (BGC) was jointly launched by Gov. Mamintal Alonto Adiong Jr. of Lanao del Sur, Gov. Bai Mariam Sangki-Mangudadatu of Maguindanao del Sur, Gov. Abdusakur Tan of Sulu, Gov.

R

The Philsaga Mining Corp. (PMC), which employs at 2,050 regular workers, will pay minimum wage earners P390 daily effective July.

Currently, the minimum daily wage rate in the Caraga region is P350.

In the presence of regional officials from the Department of Labor and Employment and the National Conciliation and Mediation Board (NCMB) as witnesses, lawyer Raul Villanueva, PMC president,

OSARIO, Agusan del Sur – Workers of a gold mining company here will receive a P40 across-the-board daily wage hike starting next month, after the management and the labor union sealed their Collective Bargaining Agreement (CBA) on Wednesday.and Jaime Pizarro, president of Philsaga Employees Union (PSELU), signed the CBA that will be effective until July 2028.

PSELU is affiliated with the Philippine Trade and General Workers Organization (PTGWO).

By next year, the company will increase the daily rate to P45 and P50 in 2025.

Apart from the pay hike, the mine workers will also enjoy a daily hazard pay. For those working inside the mine tunnels, they will get a daily hazard pay of P45, P20 for workers in nonhazardous assignment and P25 to those doing hazardous assignment other than mine tunnel workers. The hazard pay was added in the health and safety provisions of the newlysigned CBA.

Hadjiman Hataman-Salliman of Basilan, and Gov. Yshmael Sali of Tawi-Tawi.

The caucus will serve as a platform that will advocate for and promote the resolution of issues identified by BARMM constituents as critical and needing immediate action.

Adiong, who hosted

PAF’s 76th anniversary celebration.

‘BOATING’ TIME. An elderly woman poses on board a rescue boat of the Search and Rescue unit of the Philippine Air Force in an exhibition at SM City in Davao City on June 9, 2023. The event is part of the

AGUSAN

‘PH Experience’

Mindanews Photo

By CHRIS V. PANGANIBAN MindaNews

Philsaga President Opposes Aussie Partner Shuffle

Philsaga Mining Corporation (PMC) newly-positioned President Joseph Mahusay expressed his opposition to the move to replace the current members of its Australian partner Ten Sixty Four Limited (X64), a second attempt to reorganize the board by its ousted Managing Director Paul Ryan Welker.

Mahusay emphasized that their local company will not work with “unqualified people” and vowed to continue working with the X64 under Jeffery McGlinn, the current Managing Director.

According to an advisory document from X64 last year, Welker’s contract was

immediately terminated on July 5, 2022 due to a direct financial interest in another company.

The X64 board found out about a 2022 drilling contract, entering X64 into a service agreement with Ranger Equipment and Vulcan Mine Management, with which Welker is one of the directors.

The board emphasized that Welker breached his obligations as a shareholder by failing to delineate the line between personal and company interests.

Mahusay also said that Welker attempted to control the X64 board in October

2022 but failed to do so because he failed to secure the majority of shareholders.

“The new board of PMC, and I, refuse to work with Mr. Welker and the unqualified people he is attempting to insert as board members to take over the board of X64, being Debra Bakker, Robert Milbourne, Jonathan Shellabear, Andrew Brown, and John DeCooman (Proposed New Board),” Mahusay said.

Given the conflict of interest in Welker’s move, Mahusay underscored that the new board of PMC, including him as a president,

3 CDO villages pilot areas for anti-child labor program

THREE barangays in this city have been chosen as pilot areas for anti-child labor programs to be implemented in partnership with a non-government

organization. During its launching on Friday, World Vision Field Coordinator Jovie Sorongon identified the barangays as Puntod, Cugman, and Gusa. "These

barangays will receive starter kits on June 12 during the Kalayaan Job Fair," Sorongon said. The job fair forms part of the 125th Independence Day celebration on June 12 organized by the Department of Labor and Employment in Northern Mindanao Region (DOLE-10), the partner agency of World Vision, which also observes the World Day Against Child Labor. DOLE-10 Director Estrella Uy-Pahalla said together with World Vision, they will turn over P3,000 worth of certificates of awards

EXTRAJUDICIAL SETTLEMENT BETWEEN HEIRS WITH DEED OF ABSOLUTE SALE

Notice is hereby given that the late ANTONIO C. CAGATIN, who died on February 23, 2017 at San Agustine Valley Homes Pueblo, Canitoan, Cagayan de Oro City, Philippines, without any will. That the said deceased ANTONIO C. CAGATIN died intestate without leaving any known debt which has remained unpaid or unsettled up to the present, and all the obligations incurred during his death were all paid and/ or settled; That the said deceased at the time of his death, left real property situated in the Barrio of Agusan, City of Cagayan de Oro, Island of Mindanao, and more particularly described as follows, to wit: A PARCEL OF LAND (Lot 19207-C, PSD-10-005841, being a portion of Lot 19207, CAD-369-D, Cagayan Cadastre Ext.), situated in the Barrio of Agusan, City of Cagayan, Island of Mindanao, containing an area of TWO HUNDRED FIFTY (250) Square Meters, more or less and covered by Transfer Certificate of Title No. 137-T-39999 is the subject of EXTRAJUDICIAL SETTLEMENT BETWEEN HEIRS WITH DEED OF ABSOLUTE SALE. Made and entered into by and between the HRS. OF LATE ANTONIO C. CAGATIN, NAMELY: ROSARITA L. CAGATIN (widow) and NIKKO L. CAGATIN (single), both of legal age, both Filipinos and both residents of Piaping Puti, Macabalan, Cagayan de Oro City, Philippines, herein after called as the HEIRS/VENDORS; JUNE VITA VILLASQUINA BOJO, herein represented by her Attorney-infact: ALFONSO M. ADANTE, of legal age, Filipino, married and a resident of Pangantucan, Bukidnon, Philippines (per SPA dated August 15, 2017 at the Philippine Embassy in Abu Dhabi, United Arab Emirates before Vice Consul, Von Ryan G. Pangwi, docketed as Service No. 61258, Doc. No. 16754, Book No. 019 and O.R. No. 407562), herein after called as the VENDEE.

That by these presents, herein HEIRS and CO-OWNERS, do hereby EXTRAJUDICIALLY SETTLE and PARTITION as they actually EXTRAJUDICIALLY SETTLED, PARTITIONED and SEGREGATED among CO-OWNERS the above described Parcel of land in accordance with the provisions of Rule 74 of the Rules of Court.

That for and in consideration of TWO HUNDRED THOUSAND PESOS (Php200,000.00) Philippine Currency, that the HEIRS/VENDORS received in their full SATISFACTION, HEREIN HEIRS/VENDORS do hereby absolutely and completely SELL, TRANSFER and CONVEY, as they actually SOLD,TRANSFERRED and CONVEYED the above-described

PH foreign reserves slip to $101.3B at end-May

THE national government payments of its foreign currency-denominated liabilities and downward adjustments in the value of Bangko Sentral ng Pilipinas’ (BSP) gold holdings reduced the country’s foreign reserves to $101.3 billion at end-May 2023. BSP data released on Wednesday showed that the latest

gross international reserves (GIR) are lower than the $101.8 billion as of last April. However, it said the country’s foreign reserves “represent a more than adequate external liquidity buffer equivalent to 7.6 months’ worth of imports of goods and payments of services and primary income.” International

standard for adequate GIR level is about three to four months import cover of a country. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the latest GIR level is among the highest in a year, buoyed by the sustained rise in structural US dollar inflows such as the

BSP rates post mixed results

THE rates of the Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) registered mixed directions on Wednesday but demand remained strong, data from the central bank showed. The average rate of the seven-day facility slipped to 6.5823 percent from 6.5863 percent during the auction last May 31. On the other hand, the average rate of the 14-day TDF rose to 6.5927 percent

from 6.5852 percent in last week’s auction. The BSP maintained the offer volume for both tenors at P120 billion for the shorter tenor and P100 billion for the two-week facility. Both tenors were fully awarded after bids for the one-week facility reached P133.675 billion while it amounted to P116.092 billion for the twoweek TDF. In a statement issued Wednesday night, BSP Deputy Governor Francisco

Dakila Jr. said the range of yields accepted in this week’s TDF auction narrowed to 6.3750 to 6.6250 percent for the one-week facility, and to 6.3000 to 6.6344 percent for the two-week tenor. “Moving forward, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” he said. (PNA)

remittances from overseas Filipino workers, revenues of the business process outsourcing (BPO) sector, and the lower global crude oil prices that reduced the country’s trade deficit.

Ricafort said structural dollar inflows are expected

to continue to back the country’s foreign reserves. Additional boost are the foreign direct investments, increase in foreign tourist arrivals, and portfolio investments or those placed in the local equity market. “Thus,

still relatively high GIR at $101.3 billion could still strengthen the country’s external position, which is a key pillar for the country’s continued favorable credit ratings for the country straight year,” he added.

(PNA)

PH foreign reserves slip to $101.3B at end-May

THE national government payments of its foreign currency-denominated liabilities and downward adjustments in the value of Bangko Sentral ng Pilipinas’ (BSP) gold holdings reduced the country’s foreign reserves to $101.3 billion at end-May 2023. BSP data released on Wednesday showed that the latest gross international reserves (GIR) are lower than the $101.8 billion as of last April. However, it said the country’s foreign

reserves “represent a more than adequate external liquidity buffer equivalent to 7.6 months’ worth of imports of goods and payments of services and primary income.” International standard for adequate GIR level is about three to four months import cover of a country. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the latest GIR level is among the highest in a year, buoyed by the

sustained rise in structural US dollar inflows such as the remittances from overseas Filipino workers, revenues of the business process outsourcing (BPO) sector, and the lower global crude oil prices that reduced the country’s trade deficit. Ricafort said structural dollar inflows are expected to continue to back the country’s foreign reserves. Additional boost are the foreign direct investments, increase in

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DANTE M. SUDARIA President/CEO

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The Crucial Roles of Robust Banking Laws and a Progressive Judiciary

During the recent launch of the Bangko Sentral ng Pilipinas (BSP) latest book, Supreme Court Chief Justice Alexander G. Gesmundo elucidated on the crucial roles of robust banking laws and a progressive judiciary.

book as a map towards the shared future of prosperity and progress that we aspire for. Here is a quick summary of the Chief Justice’s speech.

maintaining its role in directing monetary policy and exercising supervision over financial institutions.

NELSON CONSTANTINO Editor-in-Chief

MIKE BAÑOS

Motoring Editor

CRIS DIAZ

Contributing

Editors

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The Sweat of Success

Think a minute . . . Former prime minister of England, Winston Churchill, became so famous for his speeches that he was called The Greatest Speaker of the 20th Century. He was also famous for his quick wit. Yet amazingly, he was not a naturally gifted speaker. On the contrary, early in his life Churchill had such a bad speech problem that people mocked him and made fun of the way he talked.

Do you know how Churchill completely changed to become The Greatest Speaker of the 20th Century? He studied and wrote his speeches word-for-word on paper. Then he practiced them countless hours in front of a mirror. He worked at saying each word just the right way with exactly the right facial expression. He also practiced pausing and pretending to struggle to find the correct word, although he knew exactly what he was going to say. So even though Winston Churchill was not a naturally

“Banking Laws of the Philippines Annotated”, written by an editorial board consisting of BSP lawyers headed by Senior Assistant Governor and General Counsel Elmore O. Capule, updates, revises and consolidates a 3-volume series entitled 1) The New Central Bank Act Annotated (Book I), 2) The General Banking Laws Annotated (Book II) and 3) Special Banking Laws Annotated (Book III).

Monetary Board Chairman and BSP Governor Felipe M. Medalla proudly presented the first coples of the book to distinguished guests who included the guest speaker Chief Justice Gesmundo, former Chief Justice Diosdado Peralta, former Chief Justice Teresita Leonardo-de Castro, former BSP Governor Amando M. Tetangco, Jr., Senator Mark Villar (Chair of the Senate Committee on Banks, Financial Institutions and Currency) , SEC Chairman Emilio Aquino, incumbent and former members of the monetary board, deans of colleges of law, representatives from leading legal firms, and of course, the publisher/distributor Rex Bookstore.

Chief Justice Gesmundo, who also wrote the book’s foreword, referred to the

THINK A MINUTE

JHAN TIAFAU HURST

good speaker, he disciplined and trained himself to become a great one.

You and I can never succeed in life without discipline and hard work. It takes sweat to succeed in our job and career, in school, in sports, in our marriage, and in family. Even if you are born into a rich family, or with an intelligent mind and natural talents, you still have to work hard to truly succeed by making the most of what you were given. Even after we get the best education and training possible, we still must continue to practice and improve our skills throughout our lifetime.

Banks in the Philippines have a significant role in the country's economic growth and stability. They serve as channels for financing and capitalization, converting domestic savings into business capital that drives development. Upholding a high standard of integrity and performance, banks establish a fiduciary relationship with depositors, ensuring the safeguarding of their resources. This fiduciary responsibility, coupled with a stable financial system, forms the basis of our banking laws.

Over time, banking practices in the Philippines have evolved, with an increasing number of banks and financial institutions operating in the country. In response to these changes, numerous laws have been enacted to regulate the banking industry, adapting to financial deregulation and strengthening government supervision over banks.

Banking laws have been amended to enhance the supervision of various types of banks, including thrift banks, rural banks, cooperative banks, and Islamic banks. The amendment of the charter of the Bangko Sentral ng Pilipinas (BSP) in 2019 through RA 11211 further strengthened the BSP's capacity to respond to evolving economic and banking practices while

These new laws and regulations have adapted to increased Filipino participation in the industry and the demands of globalization. They maintain a consistent vision of economic stability while accommodating financial and technological innovations. For instance, the National Payment Systems Act (RA 11127) enacted in 2018 enhances the efficiency, safety, and reliability of payment transactions, promoting stability and consumer protection within the financial system. The recognition of digital banks as a distinct classification by the Monetary Board through Resolution 1536 in 2020 reflects the progressive digitalization of financial services.

Banking laws serve as a framework for the efficient functioning of financial institutions, setting minimum capital requirements, management standards, and governance frameworks that govern their behavior. These laws instill trust and confidence in our financial institutions. They promote transparency, accountability, and prudent banking practices, contributing to the stability of the financial system. Moreover, banking laws create an enabling environment for financial institutions to provide accessible and affordable

financial services to individuals, businesses, and communities, driving economic growth and improving livelihoods. Banking laws also contribute to national security by combatting illicit activities such as money laundering and terrorism. They position the Philippines as a stable and growth-oriented player in the global arena, attracting foreign investments and fostering international partnerships.

The importance of these laws extends to preserving the rule of law, providing consistency, predictability, and fairness in judicial interpretation. A fair, competent, and independent judiciary inspires confidence in the rule of law, creating a favorable investment climate and development environment. Thus the Supreme Court launched the Strategic Plan for Judicial Innovation (SPJI) 2022-2027. The SPJI aims to enhance the delivery of justice real time by reviewing the organizational structure, improving operations, and establishing

Bread of life? Incredible!

WE cannot deny that we too can somehow share the disbelief of the Jews when Christ declared himself as the “Bread of Life.” We can echo in ourselves their reaction: “How can this man give us his flesh to eat?”

(cfr. Jn 6,51-58)

It is once again the time to enliven our faith, suspend for a while our human perception of things and allow Christ to tell us things, since he truly tells us nothing other than the ultimate truths that can go over and above what we, with our human and natural powers, can only perceive and comprehend.

We have to realize that in spite of our best efforts to know and understand things, we know that we cannot apprehend everything, much less understand things fully and with finality. And yet we somehow can discern that the reality that governs us goes beyond what we can perceive and understand.

That is simply because of the spiritual character of our nature that would somehow enable us to have at least an inkling, an intimation of the spiritual, let alone, supernatural realities. These are realities that go beyond the sensible world. More than that, these are realities that are poised to make us enter into the supernatural realities since we know we have to contend with mysteries.

This is where and when we have to rely on faith, a gift given to us by God our Creator who wants us to be his image and likeness and, therefore, wants to share his knowledge of things, at least some part of it, with us.

And as the Catechism teaches us, “what moves us to believe is not the fact that revealed truths appear as true and intelligible in the light of our natural reason: we believe ‘because of the authority of God

himself who reveals them, who can neither deceive nor be deceived’”. (CCC 156)

So, in spite of the tremendous and incredible truth told to us by Christ, we just have to believe that he makes himself the Bread of Life so that he can consummate his mission of redeeming us and of making us like him who is the true image and likeness that God has of his own self.

Yes, we have to reiterate this fundamental truth about ourselves. We are meant to be another Christ (alter Christus), if not Christ himself (ipse Christus). We have to pound this truth of our faith into our mind and heart repeatedly and strongly.

It would be truly good if on our part we try to do our best to correspond to this truth of our faith. Christ so wants us to be like him that he makes himself a bread for us to eat so we can achieve not only a spiritual

identification with him but also a material one, at least for a time as we still traverse this world of ours.

What the gospel of Christ as our Bread of Life tries to tell us is that we should try our best to develop a Eucharistic devotion that would lead us to become truly Eucharistic souls. In other words, it is telling us to be another Christ, Christ himself, the very pattern of our humanity, and the savior of our damaged humanity.

It’s incredible indeed! But that is just how it is. With faith, we can hack it.

Trade deficit declines in April

THE country's trade deficit declined by 14.9 percent in April, based on data from the Philippine Statistics Authority (PSA).

In a report released Friday, the PSA said the balance of trade in goods or the difference between the value of exports and imports, recorded a deficit of $4.53 billion, down from $5.3 billion in April last year. The total external trade in goods amounted to $14.34 billion, down by 18.6 percent from last year's $17.60 billion.

The total value of exports reached $4.90 billion from $6.14 billion.

Electronics products

continued to be the country's top exports with total earnings of 2.67 billion, followed by other manufactured goods ($275.9 million), and other mineral products ($207.93 million).

By major trading partner, exports to People’s Republic of China comprised the highest export value amounting to $772.47 million or about 15.8 percent of the country's total exports during the month.

Other major trading partners include the United States of America, Japan, Hongkong, and Singapore.

The total imported goods in April meanwhile amounted to $9.43 billion,

down by 17.7 percent from the $11.46 billion in the same month last year.

The commodity group with the highest imported value was electronic products, which amounted to $2.12 billion or 22.5 percent of the country’s total imports.

In a comment, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the narrower trade deficit during the month was due to the country’s lower import bill amid a recent decline in global oil and other energy prices.

Ricafort said the decline was also due to lower

TRADE/PAGE 7

Economic managers revise ‘23 exports, imports assumption

ECONOMIC managers on Friday adjusted several macroeconomic indicators for 2023, including growth assumptions for exports and imports of goods, citing the impact of external developments.

The exports growth assumption for this year was slashed to 1 percent from 3 percent, and the imports growth assumption from 4 percent to 2 percent, following the 185th meeting of the interagency Development Budget Coordination Committee (DBCC).

“The main factor that led to the adjustments of

the external trade numbers are to account for the preliminary PSA (Philippine Statistics Authority) data that we now have for Q1 (the first quarter),” said Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco Dakila Jr. in a briefing after the meeting of the economic managers at the Department of Finance (DOF) office. He said the PSA figures will still be adjusted “to make them suitable for the balance of payments data that we are citing.”

Citing preliminary PSA data, Dakila said goods exports in the first three months this year contracted

RA Form No. 10.1(LCRO) Republic of the Philippines Local Civil Registry Office Province of Lanao del Norte Municipality of Kapatagan NOTICE OF PUBLICATION

In compliance with Section 7 of R.A. No. 10172, a notice is hereby served to the public that WILLENJAE L. MAGSANAY, has filed with this Office a petition for Correction

(Complete name of the

Business leaders laud gov’t efforts to curb inflation

LEADERS of three of the country’s most influential business groups have recognized inroads made by the government in easing price pressures.

Their sighs of relief came when the Bangko Sentral ng Pilipinas (BSP) reported that headline inflation decelerated further to 6.1 percent year-on-year in May from 6.6 percent in April.

In an interview on Friday, Francis Chua, chair emeritus of the Philippine Chamber of Commerce and Industry (PCCI), said the BSP’s policies have “evidently been effective in controlling the flow of money.”

efforts to bring down the prices of basic commodities by addressing supply deficiencies.

“So far, so good,” said Sergio Ortiz-Luis, Jr., president of the Employers Confederation of the Philippines, referring to the BSP’s monetary policymaking. “The BSP’s target of slowing inflation down to 4 percent or less later this year is looking more attainable.”

By a stroke of fortune, the declining price of petroleum in the international market also seems to be cooperating with domestic efforts to address inflation, he added.

Industries which represents local manufacturers, told the Philippine News Agency that “we have to give credit to the Office of the President for

EXTRAJUDICIAL SETTLEMENT OF REAL ESTATE AMONG HEIRS WITH WAIVER OF RIGHTS

by 13.2 percent, and imports by 3.3 percent.

“The biggest factor behind the deceleration in exports would come from electronics products and that would be attributable to tapering global demand for semiconductors,” he said.

EXPORTS/PAGE 7

“The May inflation rate, the lowest so far this year, can be attributed to the Monetary Board’s decision to raise key policy rates, and then finally keep them steady at 6.25 percent,” he said.

Chua, who founded the International Chamber of Commerce’s domestic chapter, also noted the Marcos administration’s

Ortiz-Luis, however, cautioned economic policymakers against giving in to the labor sector’s clamor for a legislated wage hike, which according to him would be “highly inflationary and would benefit only the small percentage of workers in the formal sector.”

Meanwhile, Jesus Arranza, chair of the Federation of Philippine

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL 10th Judicial Region Cagayan de Oro City Branch 22

OFFICE OF THE PROVINCIAL SHERIFF

SHERIFF'S NOTICE OF SALE File No. 2023-1334

Upon Extra-Judicial petition for sale under Act 3135 as amended filed by SECURITY BANK CORPORATION, mortgagee, with principal office address at Security Bank Centre Building, 6776 Ayala Avenue, Makati City, against VICTORIA SUSUSCO ALBINO, Attorney- in-fact of SPS. DEVIE MANGUBAT CABALLERO & M NANAYAKKARA CHRISTOPHER SAMPATH NIROSHANA SAMARANAYAKE, mortgagor/s, of legal age/s, Filipino/s and Sri Lankan, respectively, and residents of Block 5, Lot 4, Xavier Heights Subdivision, Upper Balulang, Cagayan de Oro City, and Block 3, Lot 22, Montierra Subdivision, Upper Blalulang, to satisfy the mortgaged indebtedness which was as of April 14, 2023 amounts to TWO MILLION FIFTY EIGHT THOUSAND

TWO HUNDRED TWENTY TWO PESOS AND 84/100 (P2,058,222.84) Philippine Currency including interest, penalty charges excluding attorney's fees and expenses of foreclosure, the undersigned sheriff will sell at public auction on June 26, 2023, at 9:00 a.m. or soon thereafter at RTC Branch 22 office, Hall of Justice, Mastersons Avenue corner Macapagal Road, Upper Carmen, Cagayan de Oro City, to the highest bidder, for CASH and in Philippine Currency, the herein described properties and all improvements thereon to wit:

TRANSFER CERTIFICATE OF TITLE NO. 137-2020007927

Lot : Lot 22, Block 3 Plan No. : Psd-10-071358

Portion of : Lot 3010-F, Psd-10-043014

Location : Upper Balulang, Cagayan de Oro City, Prov. of Mis. Or., Island of Mindanao

Owner : DEVIE M. CABALLERO, Filipino Citizen, married to M NANAYAKKARA CHRISTOPHER SAMPATH

Area : FIFTY FOUR (54) SQ.M. MORE OR LESS

RA Form No. 10.1(LCRO)

Republic of the Philippines Local Civil Registry Office Province of Lanao del Norte Municipality of Kapatagan NOTICE OF PUBLICATION

In compliance with Section 7 of R.A. No. 10172, a notice is hereby served to the public that EPRIL ROSE CALISO ALLEGO, has filed with this Office a Petition for Correction

(Complete name of the Petitioner) of Clerical Error to correct the SEX from MALE to FEMALE in the Certificate of Live Birth (sex to be changed) (sex to be adopted) of EPRIL ROSE CALISO ALLEGO who was born on APRIL 30, 1989 at (complete name of document owner) (complete date of birth) KAPATAGAN, LANAO DEL NORTE and whose parents are PATRICIO MANATAD ALLEGO (place of birth) (name of father) and ELUETERIA ALIVIO CALISO. (name of mother). Any person adversely affected by said petition may file his written opposition with this Office not later than 15 days.

(SGD) IVY R. TONGCO, LPT, J.D. Municipal Civil Registrar

Prospective buyers/bidders may investigate for themselves the title of the herein described property and encumbrances thereon, if any there be.

All sealed bids must be submitted to the undersigned on the above' stated time and date. Incase June 26, 2023 will be declared holiday or non-working day, the Public Auction Sale shall be held on next working day (June 27, 2023) without further notice, publication and posting.

Cagayan de Oro City, May 24, 2023,

FOR THE PROVINCIAL EX-OFFICIO SHERIFF: (SGD)

JOEL LYDVEL G. PAKINO Sheriff IV

Notice is hereby given that the late late MAC ARTHUR A. AVANCEÑA, who died on February 19, 2023 in Cagayan de Oro City, and without leaving any will; That the late MAC ARTHUR A. AVANCEÑA left no debts whatsoever; That the late MAC ARTHUR A. AVANCEÑA, at the time of his death, left two parcels of land situated at Bonbon, Cagayan de Oro City, and said parcels of land are described as follows, to wit: Property I : Transfer Certificate of Title No. T-59420 PARCEL OF LAND (Lot 3554, case 4, Cad-237, situated in the Barrio of Bonbon, Cagayan de Oro City, Island of Mindanao. Containing an area of ONE THOUSAND THIRTY ONE (1,031) SQUARE METERS. Property II : Transfer Certificate of Title No. T-83768 A PARCEL OF LAND (Lot 1578-B, Psd-10-013524, being a portion of Lot 1578, Cad-237, Cagayan Cadastre), situated in the Barrio of Bonbon, City of Cagayan de Oro, Island of Mindanao. Containing an area of ONE HUNDRED THIRTY THREE (133 SQUARE METERS more or less. Property III : Tax Declaration No._____ Lot No.: 1565 - I; Location: Bonbon, Cagayan de Oro City; Area: 136 square meters. WHEREAS, it is to the convenience and advantage of the said parties that the existing community of ownership among them be terminated, and their respective share and participation determined by mutual agreement and adjudication; WHEREAS, for purposes of this settlement agreement, the parties hereto have caused the abovedescribed properties to be assigned and have mutually and voluntarily agreed, to assign and adjudicate among themselves their common property as above-described, in the manner following: Property I: Transfer Certificate of Title No. T-59420. To Anadella K. Avanceña —1/2 of 1,031 sq.m. plus 1/3 of 1/2 of 1,031 sq.m. To Mac Arthur K. Avanceñ — 1/3 of 1/2 of 1,031 sq.m. To Matthew K. Avanceña — 1/3 of 1/2 of 1,031 sq.m. Property II: Transfer Certificate of Title No. T-83768. To Anadella K. Avanceña — 1/2 of 133 sq.m. plus 1/3 of 1/2 of 133 sq.m. To Mac Arthur K. Avanceñ, — 1/3 of 1/2 of 133 sq.m. To Matthew K. Avanceña — 1/3 of 1/2 of 136 sq.m. is the subject of EXTRAJUDICIAL SETTLEMENT OF REAL ESTATE AMONG HEIRS WITH WAIVER OF RIGHTS. Made and entered into by and among:

1. ANADELLA K. AVANCEÑA, of legal age, Filipino, widow, with residence and postal address at Bonbon, Cagayan de Oro City;

2. MAC ARTHUR K. AVANCEÑA, JR., of legal age, Filipino, married, with residence and postal address 6861 Susan Street, Bakersfield, CA 93308, duly represented by Anadella K. Avanceña, by virtue of a Special Power of Attorney dated April 19, 2023 before a Notary Public — California, Tulare County, Atty. Leticia Kumble, as hereto attached and marked as Annex A; -and- 3. MATTHEW K. AVANCENA, of legal age, Filipino, married, with residence and postal address at 8847 Camino Real, San Gabriel, CA 91775, represented by Anadella K. Avanceña, by virtue of a Special Power of Attorney dated April 19, 2023 before a Notary Public — California, Kristin McRiley Morones. That We, MAC ARTHUR K. AVANCEÑA, JR. and MATTHEW K. AVANCEÑA, hereby waive our rights and whatsoever claim with respect to our co-ownership of the parcels of land in favor of our mother, ANADELLA K. AVANCEÑA, of legal age, Filipino, widow, with residence and postal address at Bonbon, Cagayan de Oro City; Under the Notary Public of ATTY. WALDO G. REBOLOS. As

BWM: JUN 5 & 12, 2023

Agusan...

from page 1

Villanueva also announced during the CBA signing event at the company’s administration building here that effective July 1, all regular workers and those who will become regular workers from that date will get a P7,000 signing bonus.

He said the 50-kilo rice subsidy every two months, or six sacks a year, will continue with the new CBA.

Villanueva added that birthday leaves will also be granted, provided that workers will have to undergo annual physical examination a month before their birthdays.

In his message, Villanueva noted that in the last 14 years, the company has sustained its industrial peace, meaning there had been no labor strike during the period.

“We aim to maintain social justice by giving social, economic and political opportunities to all the workers,” Villanueva said.

For his part, Pizarro assured the management that he will encourage union members to always do good and become productive “so that the company will always listen to their future demands.”

Present during the CBA signing were DOLE assistant regional director Raymond Fel Sajor, NCMB regional director Maria Theresa Francisco, lawyer Arnel Dolendo, PTGWO national president, and Darius Guerrero, PTGWO national secretary.

BARMM...

from page 1

the BGC launch, said addressing these issues is key to promoting stability and inclusive development in the Bangsamoro region.

"Ang importante sa amin at maiparating namin sa buong BARMM kung ano itong caucus na ito para naman marinig ng ating national government at

regional government kung ano itong programang ito na tungkol sa inclusive governance and development, peace and order, and rule of law," he said.

Part of the mechanism, the five governors will visit communities across the BARMM region to campaign for the BGC.

Slip... from page 3

foreign tourist arrivals, and portfolio investments or those placed in the local equity market. “Thus, still relatively high GIR at USD101.3 billion could still strengthen the country’s external position, which is a key pillar for the country’s continued favorable credit ratings for the country straight year,” he added. (PNA)

Sweat...

to be.

a minute .

Banking...

from page 4

information and communication technology (ICT) infrastructure within the judiciary. Anchored on principles of timely and fair justice, transparency and accountability, equal and inclusive justice, and technologically adaptive management, the SPJI envisions a more efficient, innovative, and accessible judicial system.

recoup lost sales volume “because consumers could no longer afford their goods,” thus, relieving price pressures somewhat.

“Let’s hope this (declining inflation) will continue, and even improve,” he said.

In the BSP report released earlier this week, it noted that aside from the softening prices of oil products, the “slower price increases of fish, meat, as well as milk, other dairy products and eggs,” also favored the Filipino consumer last month.

exports and manufacturing activity.”

He said moderation was also noted for both raw materials and immediate goods.

“So we note that there is a large linkage between our exports performance and the various demand for imported goods,” he said.

CDO...

from page 2

In March, when inflation was still at a high of 7.6 percent, the monetary authority projected average inflation in 2023 to settle at 6 percent.

Recent developments have caused the BSP to reset its whole-year inflation target down to 5.5 percent.

While the growth assumptions for goods exports and imports for this year was adjusted, the economic managers, on the other hand, kept the 6 percent assumption for exports for 2024 until 2028, and the 8 percent assumption for imports for the same period.

(PNA)

Philsaga...

from page 2

for the livelihood starter kits to 100 parents or guardians of child laborers from the pilot villages. Cugman Barangay Chair Wendilyn Escobia said the village council profiled 79 child laborers in 2022 which was mitigated through their intervention. "There were 23 new cases profiled this year (2023) and would be recipients of DOLE-10 and World Vision's distribution of livelihood starter kits on Independence Day,” Escobia said. Meanwhile, Puntod Barangay Councilor Joy Amarga reported that there are 135 child laborers identified since last year in their village alone. (PNA)

If we don’t, we simply will not reach our potential, not to mention keep up with our competition.

The integration of technology is a key aspect of the SPJI, with plans to automate administrative and adjudicative processes and leverage secure technologies such as artificial intelligence (AI) for legal research and court operations. The judiciary also recognizes the significance of information technology in adapting to the ever-evolving landscape, instituting offcourt proceedings through video conferencing, and introducing electronic payment solutions for legal fees and collections.

from page 4 Leaders...

However, “persistent constraints in the supply of key food items, the potential impact of El Niño on food and electricity prices, and the effects of possible further increases in transport fares and minimum wages may cause inflation to exceed the latest forecasts,” the BSP cautioned. (PNA)

Most importantly, it takes daily discipline to develop our heart and character to become the very best person we can be. We must learn to change our way of thinking and living every day. It’s not easy to quickly forgive someone who hurts us. It’s not easy to always put the needs and feelings of our spouse and children first before our own. It’s not easy to always be honest no matter what we can get away with or how much it will cost us. That is why we desperately need help.

Today you can start getting all the help you will ever need—by asking Jesus to take full charge of your heart and character. Remember: “God will do for you what you cannot do for yourself, but He will not do for you what you can do.”

So with His power and help, plus your work and sweat, you can start making the changes you need to fully become the human being He created you in His likeness

This collaboration between the judiciary and the financial sector, as exemplified by the launch of the BSP book "Banking Laws of the Philippines Annotated," symbolizes the shared values of integrity and transparency, fostering a thriving and progressive Philippines. With robust banking laws and a progressive judiciary, the Philippines can continue to thrive, providing opportunities for all Filipinos and contributing to shared prosperity.

from page 5

for its efforts to put it (inflation surge) under control.”

He explained that Malacañang’s initiatives encouraging the importation of certain goods to fill existing supply gaps helped alleviate inflationary pressures.

Arranza said there are signs that some retailers are slashing prices in order to

Trade...

from page 5

of other imported commodities such as wheat and industrial metals.

"Still relatively higher prices and interest rates, locally and globally, also partly weighed on demand for some imports and for some of the country’s exports," he said.

Ricafort said however the easing trend in inflation would support an easing of interest rates and the recovery in both exports and imports for the coming months. (PNA)

Exports...

from page 5

He said exports of coconut and mineral products also posted slower growth “but these are mainly driven by the decline in commodity prices.”

For goods imports, Dakila traced the slower expansion to “moderation in commodity prices along with weaker

work with the existing board of X64. The X64 provides exploration and mining services worldwide, developing gold projects in the Asia Pacific Region. Their current board comprises Jeffery McGlinn, Dr. Kate George, Simon Mottram, Andrew Hunt, Patrick Warr, James Llorca, and Deborrah Ho.

Notice is hereby given that the late

Fe J. Adlawan died on December 14, 2020 at Adventist Medical Center, lligan City, which is the place of her abode at the time of her demise. She died without leaving any will or known unpaid debts and that she left an estate of parcels of land located at following location, described as follows: PARCEL

1 : Lot No.330, Pls 616-D, containing an area of SEVENTEEN THOUSAND THREE HUNDRED SEVENTY SEVEN (17,377) SQUARE METERS more or less. Covered by O.C.T. No, E-2630, located at Bagacyong, Patag, Naawan, Misamis Oriental. PARCEL 2 : Lot No.138-A, Csd-10-021449-D, containing an area of TEN THOUSAND (10,000) SQUARE METERS more or less.

Covered by O.C.T. No. 2013000144, located at Patag, Naawan, Misamis Oriental are the subject of EXTRA JUDICIAL PARTITION OF THE ESTATE OF FE JANOLINO ADLAWAN. That this DEED is executed and entered into by and among: BIENVENIDO V. ADLAWAN, widower, JONATHAN JAY J. ADLAWAN, married, OPHELIA BLANCHE J. ADLAWAN, married, YANCY MAE A. CORTES, married, SERGIO ROCHE J. ADLAWAN, single, LARRY ADJAN J. ADLAWAN, single and ACHILLES GEM J. ADLAWAN. That the above — named parties of these presents are the only surviving HRS. of FE JANOLINO ADLAWAN. Under the Notary Public of ATTY. DANIEL T. BAYRON. As per Doc No.81; Page No.17; Book No. 71; Series of 2021.

BWM Jun 12 ,19 & 26, 2023

EXTRA-JUDICIAL SETTLEMENT OF ESTATE WITH WAIVER OF RIGHTS

Notice is hereby given that the late ENNIE S. PAJARES who died on February 23, 2022 in Cagayan de Oro City, without any will; WHEREAS, the deceased, at the time of her death is the lawful owner of a parcel of land, more particularly described as follows: TRANSFER CERTIFICATE OF TITLE NO. T-175296 A PARCEL OF LAND – Lot 17 Block 17, Pcs-10-001781 situated in Iponan, Cagayan de Oro City. Containing an area of one hundred sixty (160) square meters. Tax declaration No.G-166159 One storey residential building with floor area of fifty 20/200 (50.10) square meters are the subject of EXTRA-JUDICIAL SETTLEMENT OF ESTATE WITH WAIVER OF RIGHTS. Made and entered by and between: PATRICIO B. SIERRA, of legal age, single, Filipino citizen, and a resident of Lingi-on, Talakag, Bukidnon, MILA S. MOLATO, of legal age, widow, Filipino citizen, and a resident of Lingi-on, Talakag, Bukidnon, LEO B. SIERRA, of legal age, single, Filipino citizen, and a resident of Lingi-on, Talakag, Bukidnon, VIOLETA S. EQUIPELAG, of legal age, married to Norberto N. Equipelag, Filipino citizen, and a resident of Lingi-on, Talakag, Bukidnon, RUDY B. SIERRA, of legal age, single, Filipino citizen, and a resident of Lingion, Talakag, Bukidnon, all hereinafter referred to as Heirs-Transferors, and ROLDAN S. COLEMAN, of legal age, widow, Filipino citizen, and a resident at 8522 N. Thorne LN SW, Lakewood WA, USA, hereinafter referred to HeirTransferee. That to the best knowledge and information of the parties hereto, the said deceased left no debts; That no personal properties are involved in this extra-judicial settlement; WAIVER OF RIGHTS Thus, for good and valuable consideration we hereby completely and absolutely WAIVED and QUITCLAIM all our rights, interests, and participations in the above-described property together with improvements, if any, in favor to ROLDAN S. COLEMAN, her heirs, assigns and successors in-interests. Under the Notary Public of ATTY. EDITH ABUT DOCDOCIL. As per Doc. No. 140; Page No. 28; Book No. 198; Series of 2023.

BWM Jun 5, 12 & 19, 2023

EXTRA JUDICIAL PARTITION OF THE ESTATE OF FE JANOLINO ADLAWAN

Just think

BusinessWeek MINDANAO FEATURE

CREDIBLE RELIABLE IN-DEPTH

Traits of Excellent Leaders

By Michael Turner, M.S.

The key to being an effective club president is being a strong leader. There are four characteristics of leaders who excels in their role.

1. Modeling Rotary’s Mission and goals: You are the role model for your members and the community you serve. It is important to practice and

promote Rotary’s values and mission.

“The mission of Rotary International (RI) is to provide service to others, promote

integrity, and advance world understanding, goodwill, and peace through its fellowship of business, professional, and community leaders.”

In addition, you must serve as a foundation for your relationships with club members and the actions they take in their community. The Object of Rotary is to encourage and foster the ideal of service as a basis of worthy enterprise and, in particular, to encourage and foster:

1. The development of acquaintance as an opportunity for service;

2. High ethical standards in business and professions; the recognition of the worthiness of all useful occupations; and the dignifying of each Rotarian’s occupation as an opportunity to serve society;

3. The application of the ideal of service in each Rotarian’s personal, business, and community life;

4. The advancement of international understanding, goodwill, and peace through a world fellowship of business and professional persons united in the ideal of service.

2. Communications: It is crucial to keeps club members as well as the community “in the loop” about club projects and activities. Club members should be given information from RI on a regular basis in order to keep them interested and engaged in Rotary. There are many sources to call on including RI’s weekly e-mails, the website, Rotarian magazine, manuals and handbooks, and social media posts. Inspirational Writer Israelmore Ayivor said, “Information leads to transformation. If you are not inspired by being informed, you will expire

by becoming deformed!”

3. Walking the Turf: Presidents need to maintain constant contact with their members. If members are absent from club meetings or do not participate in projects or activities reach out to them to learn why. It may be a transportation issue, lack of money, or overwhelming responsibilities at work or home. Whatever the reason they will appreciate a phone call from you, not an e-mail or text message. The latter two are too impersonal. Continue doing this every couple of weeks just to tell them what is happening at their club and in Rotary. By keeping them informed they will continue to be engaged in Rotary they will look forward to returning to their club.

In addition, it important to recognize members on their birthday, wedding anniversary and club anniversary. This can be as simple as mentioning their names at meetings or in your club’s newsletter. Some may bring in birthday or anniversary balloons, or present certificates.

4. Demonstrate High Ethical Standard: The Four-Way Test is an excellent start, but actions speak the loudest because there are no established ethical standards. Everyone has his or her own and they reflect his or her belief system that drives his or her actions, approach and attitude toward a wide range of situations. As you carry out your presidential duties remember that your members are watching and listening. If you take the low road they may follow your example. In addition, in this technology-driven age you never know when someone is recording your actions and posting them on social media.