BusinessWeek Mindanao (May 17-18, 2023)

BusinessWeek

YOUR MINDANAO-WIDE BUSINESS PAPER

CREDIBLE RELIABLE IN-DEPTH

Market Indicators

Briefly

Illegal mining

FIVE Chinese nationals and 13 Filipinos are facing charges for violating multiple laws after a joint government operation for illegal mining operations in this city's Iponan River. Ban Mikhael Pacuribot, chief of the legal division of the Department of Environment and Natural Resources in Northern Mindanao Region (DENR-10), said they are in coordinating with the Bureau of Immigration for the identities of the foreigners caught in the act of engaging in illegal mining operations on May 13. "We have been receiving information from our partners in the field, but it was when we visited the area that we saw these (Chinese) nationals present there," he said.

‘Kalabasa’ noodles

DAVAO CITY – Mayor Jesus Sacdalan of Alamada, North Cotabato, will be requesting the assistance of the Department of Science and Technology (DOST) to establish a processing facility to turn their "kalabasa" (squash) farm produce into nutritious "pancit canton" (stir-fried) noodles. In a Facebook post on Tuesday, former agriculture secretary Emmanuel Piñol said Alamada's farmers have complained of low prices of their “kalabasa” produce at PHP2 per kilo. Piñol said the squash processing project is expected to provide jobs to women in the community and create an economic enterprise.

Tupad program

BUTUAN City – At least 2,600 residents in Siargao Island stand to benefit from the twoday payout for the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program under the Department of Labor and Employment. In a phone interview Tuesday, Niel Arlan of the office of Surigao del Norte 1st District Rep. Francisco Jose Matugas II said 500 beneficiaries from Dapa town and 1,200 from Barangay Catangnan in General Luna town initially received their TUPAD payments in separate payout activities on Monday. Each beneficiary was paid P5,250 for the 15day work and services they rendered at a rate of P350 per day, Arlan said.

Proposed P150 wage hike not enough: KMU

By ANTONIO L. COLINA IV MindaNews

DAVAO City — The proposed P150 wage increase being worked out in the Senate is not enough to help families cope with the increasing cost of basic commodities, labor group Kilusang Mayo Uno (KMU)-Southern Mindanao said on Saturday.

Paul John Dizon, KMU-Southern Mindanao secretary general, told MindaNews that their group has urged the Senate to legislate a minimum wage which is close to the current “family living wage” of P1,100 to benefit the laborers in the country.

“Ang 150 pesos nga wage increase nga ginaduso dinha sa senado kay dili gyud siya matawag nga increase,” he said.

He said they hope all

Normin’s limitless bike adventures launched

By GERRY L. GORIT Reporter

LIMITLESS bike adventures await Northern Mindanao bikers and enthusiasts as the Department of tourism regional office 10, in collaboration with R.O.X. Philippines, successfully launched the bike NorthMin campaign program at the activity center of Ayala Centrio Mall in Cagayan de Oro City over the weekend.

Regional Director Marie Elaine Unchuan expressed

her intent to champion bike tourism in the region and fully realize its tourism potential.

She also shared the development of initiatives for bike tourism and the pilot bike tour circuits in Northern Mindanao.

DTO-10 also introduced its first project for Bike NorthMin: the Camiguin lsle bike tour, a 64-kilometer race on the scenic island province of Camiguin on May 28, 2023.

2 Indons nabbed in drive versus illicit cigar trade

SYNDICATED behind the proliferation of counterfeit cigarettes are now becoming bolder as foreign nationals are now increasing involved in sneaking in the smuggled goods into the local markets.

In a recent operation, 2 Indonesian nationals were arrested by the composite team of the Philippine Coast Guard Southwestern Mindanao and the Bureau of Immigration (BI) in Barangay Taliac, Maasim in Sarangani Province on

board a motorized vessel with smuggled cigarettes.

Seized with them were 20 master cases of smuggled cigarettes identified to be Gudang Baru, a brand manufactured in Indonesia with an estimated street value of almost P400,000 and the estimated excise tax loss to the government is placed at P600,000.

The suspects identified as Fadli Macmus and Fajar Antanari, both residents of of Tinakarang, Marore Iland,

Indonesia are now undergoing inquest proceedings for violations of the Customs Modernization Tariff Act (CMTA) and the Philippine Immigration Act. Details of their operations were not immediately known but authorities emphasized that the interception is part of the “intense, aggressive and determined effort” of the government to curb smuggling and other illicit cigarette trades in Mindanao.

DAVAO City — Former Sarangani Governor Miguel Rene Alcantara Dominguez has joined the 60-year-old Alsons Development and Investment Corporation (Alsons Dev) as its new director who will oversee the business strategy and operations of the premier property developer and real estate pioneer in Davao City. Alsons Dev is the real estate

WAGE/PAGE 7

PAPA’S GIRL. Two girls accompany their father in selling kiping, a delicacy made of cassava, in Malaybalay City. MindaNews photo by H. MARCOS C. MORDENO

BIKE ADVENTURES. Department of Tourism-10 regional director Marie Elaine S. Unchan and Edgar Ravino, ROX-Area Manager, during the launching of Camiguin Isle bike tour at the Centrio Ayala Mall Activity Center, May 13, 2023. photo's by gerry lee gorit

Two Indonesians nabbed in a series of Mindanao-wide anti-illicit cigarette trade enforcements.

Open communication helps curb depression in youth, says CDO psych executive

MALITBOG, Bukidnon –

The Cagayan de Oro City government on Monday urged families to have open communication among their members to help curb incidents of depression. Jayme LeonenPagaspas, head psychologist at the Psychosocial Division of the City Social Welfare and Development (CSWD), said most young people having issues with depression and mental health, need consistent communication with parents and elder family members. "Tell them that you will always listen, and you will not judge what they are going through," she said during Monday’s convocation of city government

employees. Pagaspas said cases of depression and mental health issues often lead to suicides, whose victims are mostly youths. As a precaution, she said government agencies and the private sector will provide a wider reach to affected individuals. "Our mayor (Rolando Uy) and the local government have created actions and received help (from partners) to address

mental health," Pagaspas said. Over the weekend, there were reported attempts by several individuals to jump off bridges in Cagayan de Oro City but were halted by barangay officials who have since guarded the areas after a series of such cases. Apart from 911, the CSWD has launched a helpline number for a free consultation on mental health concerns. (PNA)

Some Lanao del Norte brgys eyed as areas of concern: police

By JESSE MONGCAL

THERE are certain barangays in Lanao del Norte that have threats in peace and order in relation to the upcoming barangay elections which will be

held on October 30.

This was the revelation of Lanao del Norte provincial police director Col. Sandy Vales even as he assured the public that his office is on top of the situation.

NOTICE TO THE PUBLIC

Even as he refused to identify the barangays concerned, Vales admitted that “there are areas that needed to be watched.”

Along this line, more meetings are scheduled between the Lanao del Norte provincial police office, local government units in the province and the Armed Forces of the Philippines to validate the situation and to plan for any contingencies should the situation warrant.

In the meantime, the Lanao del Norte provincial police office has already conducted threat assessment on all mayors in the province and all results came back negative.

This is to inform the public that MS. JOY C. ERENO, whose picture appears above, is NO LONGER CONNECTED with Ecossential Foods Corporation as of November 11, 2022.

Any transaction made and offered by Ms. Ereno on behalf of the company after the above-mentioned date will no longer be honored or authorized by the company.

Please report any unauthorized activity to Ecossential Foods Corporation:

DEED OF EXTRA JUDICIAL SETTLEMENT WITH DEED OF ABSOLUTE SALE

Notice is hereby given that the late CATALINA E. GUDEN, who died on _________ at _________ left a certain parcel of land more particularly as follows, to wit; A parcel of land located at Poblacion Malitbog, Bukidnon, bearing Tax Declaration No. 14-0001-00143, with an area of FOUR THOUSAND EIGHT HUNDRED SQMTRS. (4,800) more or less Lot No. 43 is the subject of DEED OF EXTRA JUDICIAL SETTLEMENT WITH DEED OF ABSOLUTE SALE. Made and executed this ___ day of ____ 2019, at city of Cagayan de oro, Philippines, by the following: ALFREDO GUDEN, FREDELYN G. JAYSON, CINDY G. CELLAN & FREDERICK E. GUDEN, all of legal ages, herein referred to as HEIRS VENDORS: IN FAVOR ERNIE T. EVANGELISTA, of legal age, Filipino citizen, resident of Malitbog, Bukidnon, herein after called and referred to as the VENDEE ; That no personal properties are involved in the Extra Judicial Settlement. That to the best of knowledge of the herein PARTIES the decedents left no dept whatsoever; That We, ALFREDO GUDEN, FREDELYN G. JAYSON, CINDY G. CELLAN & FREDERICK E. GUDEN, herein referred to as VENDOR, for and in consideration of the sum of ONE HUNDRED FIFTY THOUSAND PESOS ONLY (Php 150,000,00) Philippine currency, in hand paid by MR ERNIE T. EVANGELISTA, of legal age, Filipino citizen and a resident of Malitbog, Bukidnon, receipt of the said amount is hereby acknowledge by the VENDOR to her full satisfaction by these presents. Whereas, the abovenamed parties by these presents hereby AGREED to DIVIDE SETTLE & ADJUDICATE among themselves the above-described of land subjects of this instrument executed. WHEREAS, the above described parcel of land is not lease, mortgage nor tenanted to anybody free from all liens and encumbrances whatsoever as per Doc. No. 386; Page No. 78; Book No. 26; Series of 2021. Under the Notarial Registry of ATTY. JOHANNE

Finance chief wants pause on rate hike

FINANCE Secretary

Benjamin Diokno said he wanted the Bangko Sentral ng Pilipinas (BSP) to pause interest rate hikes amid easing inflation.

"I’m for a pause, that's my opinion. Inflation is going down and while the current account deficit expanded, it is manageable and that's because of the growth of the economy," Diokno said in a briefing. "So overall, job market is fine, revenues are up, so there's no reason why we should increase rates."

The BSP has raised key policy rates by a total of 425

basis points due to high inflation.

Its overnight reverse repurchase facility is currently at 6.25 percent. Headline inflation, which reached as high as 8.7 percent in January, has decelerated to 6.6 percent in April.

Diokno said the full impact of the rate hikes could be felt in the second or third quarter of the year.

"There’s a lagged effect, at the soonest nine months, as long as 18 months. But we don't know what will happen next if they will

maintain the rate at 6.25 percent. It’s not fully felt yet. We just started adjusting the rate (in) May last year," he said.

Finance Undersecretary

Zeno Ronald Abenoja, meanwhile, noted that while rate hikes may affect economic activity, "this is manageable."

"Primarily because, for example, as monetary policy has adjusted upward, the adjustment of fiscal policy is very gradual. There continues to be support on the domestic economy, including infrastructure

IMF maintains 6% growth projection for PH after strong 1st quarter output

spending. Last year, it's 5.8 percent of GDP (gross domestic product). Prior to that, it was also 5.8 percent," he said.

Abenoja explained that the government's 6 percent to 7 percent growth target for this year already took into account the effect of the BSP's monetary policy tightening.

"The target of at least 6 (percent) up to 7 percent takes into account the impact of all these previous monetary policy adjustments," he said. (PNA)

BSP exec cites need for flexible measures vs. systemic risks

MACTAN, Cebu – With Asia projected to contribute around 70 percent of growth this 2023, authorities have to come up with a coordinated effort to limit and thwart the systemic risks that may arise from the current situation, a

Bangko Sentral ng Pilipinas (BSP) official said Monday.

In an interview, BSP Senior Assistant Governor Dr. Johnny Noe E. Ravalo told journalists that among the issues faced by the world right now include high-

interest rates, elevated inflation, and how to cope with new challenges, such as the impact of the banking issues in the US and the possible recession of the world’s largest economy.

He said this is the

reason for the holding of the two-day International Conference on Financial Stability hosted by the BSP and the International (IMF) here that started May 15.

The BSP official noted

THE International Monetary Fund (IMF) is keeping its 6 percent growth projection for the Philippine economy this 2023 and sees robust output in 2024 despite the impact of elevated inflation and interest rates and challenging external developments.

In a briefing on Friday, Shanaka Jay Peiris, Mission Head of the IMF team, said the domestic economy registered one of the strongest recovery from the pandemic with a growth, as measured by gross domestic product (GDP), of 7.6 percent in 2022, higher than the government’s 6.57.5 percent target.

In the first quarter of this year, the domestic economy exceeded expectations after it expanded by 6.4 percent.

Growth print from January to March this year, however, is slower than quarter-ago’s 7.1 percent and year-ago’s 8 percent, which authorities traced to base effects and the impact of elevated inflation rate, among others.

Peiris said the economy’s growth in the first quarter this year is (in) line with their expectations, thus, the unchanged full-year forecast for 2023.

He also noted that inflation has decelerated but said they expect the Bangko Sentral ng Pilipinas (BSP) to keep interest rates tight for most of this year.

Rate of price increases has slowed to 6.6 percent last April after hitting its highest so far this year of 8.7 percent last January, a 14-year high.

With the acceleration of inflation rate, the central bank’s policy-making Monetary Board (MB) has increased the BSP’s key rates by 425 basis points since May 2022.

“The current policy stance might be kept tighter for longer, maybe most of this year given that inflation, core inflation is still high and global inflation remain high,” he said.

Peiris said they expect the robust output of the domestic economy to be sustained next year but noted this will be challenged by base effects, among others. Asked for possible measures against the base effects, he said focus should be given to further improving the investment side such as on infrastructure and on raising productivity through digitalization and agricultural reforms. (PNA)

BSP/PAGE 7

The BusinessWeek Mindanao is published by BusinessWeek Mindanao Corporation every Monday to Friday with office address at Tanleh Building, Abellanosa, Cagayan de Oro City. It is registered with the Securities and Exchange Commission under Company Registration No. CS201531633 with BIR Certificate of Registration No. 2RC0000831068, TIN No. 463-826-272-000 – VAT. Reg., and with Business Permit No. 2020-04015. Tel. Nos.: (088)856-3344, (088) 810-100, 0923-4320687, 0917-7121424

Website: www.businessweekmindanao.com

E-mail : businessweekmindanao@gmail.com

BUSINESSWEEK MINDANAO CORPORATION Publisher

DANTE M. SUDARIA President/CEO

ALLAN MARIO MEDIANTE Vice President for Corporate Affairs

RUFINO

T. MAGBANUA Vice President for Business Development

NECART HALASAN Vice President for Operations

JOE FELICILDA Vice

President for Administration

ROSE MARY D. SUDARIA, P h D Vice President for Finance 09061854079, 09267904299

DANNYCAROSE SUDARIA-HALASAN Marketing Manager 09360462356

MIKE BAÑOS Vice President for Digital

NELSON CONSTANTINO

Editor-in-Chief

MIKE BAÑOS

Motoring Editor

CRIS DIAZ

Contributing

Editors

ATTY. ANTONIO S. SORIANO 2f, ICS Building Tel.No.: 881-0176

Tiano cor. Montalvan sts. Legal Counsel

ATTY. MARIO T. JUNI

Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO Legal Counsel

No to Development Aggressions! Debunk Insane Ideology: Corporate Globalization

CHRIS PANGANIBAN Regional Editor - Caraga

JOEL ESCOL Feature Editor

Justin Clyde Benedict D. Domingo Layout Artist

IRENE DOMINGO-BANTOL Advertising

MANILA OFFICE: 9th Floor, Unit 918, CityLand Herrera VA Rufino Cor. Valero St., Salcedo Village, Makati City

CECILIA FRESNIDO-HONRADE - New Marketing Manager

DAVAO BUREAU

Door 223, Doña Segunda Bldg., CM Recto Ave., Davao City

Telephone #: (082) 298-8815

NORMA PACHECO, 0919-097-9024

ILIGAN- ALONA SUDARIA, 0916-292-1931

OSCAR LEDESMA Bureau Chief, Bukidnon Contact No.: 0905-692-5925

Member:

Philippine Press Institute Oro Chamber

Learning to Love

Think a minute . . . ”Love at first sight is often cured by a second look.” A popular song said: “I’d give everything I own for just one minute of real love.”

Deep down we know we have not really lived if we have not really loved. So if love is what life is all about, why are we not better at it by now? Someone said, “It is amazing that after thousands of years, humans still have not learned how to love better.”

One part of our problem is that we do not spend true quality time actually practicing, improving, and learning how to love. We seem to make time for almost everything else, then whatever time is left over is what we spend with the people we love. Remember: “Working overtime pays more because of what you’re missing.” Time with the people you love is one of your most valuable possessions.

Our greatest ambition in life should be to learn how to love truly well. When people are dying, you never hear them say: “Bring me my money one more time before I die.” The only thing we want during our last moments of life is the people we love—because we know they are the ones who made our life worth living. Our challenge is that we

Mindanao, all these years has been described well earning the monicker as the food basket of the country or the land of the brave and the free. Yet, it is in Mindanao where there is high incidence of poverty as 14 of the 25 poorest provinces are found. While the second biggest island in the country oozes with ecological wealth, but three questions must be asked: Who controls? Who decides? Who benefits? Apparently, not the Mindanaons but the oligarchs and global corporations in cohort with powers-that-be. The TransNational Corporations are in control of Mindanao now following an insane ideology called Corporate Globalization. Corporate Globalization has transformed Mindanao into massive plantations of high value crops to satisfy the consumerist needs of the people in developed countries while we cannot even provide basic staples for our hungry people. A closer analysis will manifest the painful truism that Corporate Globalization is based on the enclosures of the commons, enclosures which imply exclusions and are based on violence. Instead of a culture of abundance, profit driven globalization creates cultures of exclusion, dispossession and scarcity. Such is very evident in the life of the Indigenous Peoples in Mindanao who are now living in extreme poverty as thousands of hectares of their ancestral domain have been transformed into massive plantations. There are tribes who have been ousted from their ancestral domain are

THINK A MINUTE

JHAN TIAFAU HURST

cannot learn how to really love until we have seen real love in real life. Until I have been truly loved by someone else, I do not know how to truly love others. You’re probably thinking: No one has always loved me like that: without conditions, just as I am. But the fact is someone actually has loved you like that for your entire life. We learn how to love by seeing God’s real love for us in Jesus. He always loves you unconditionally. No person in history has lived and shown us such a pure, powerful, and perfect love as He did. This is because He is love itself. Jesus came to show us what true love looks like. He has given us the clearest picture and proof of His love for us—by sacrificially giving His perfectly innocent life for

now living along the highway under shattered tents.

What is so painful is when they would resist to protect their land rights and water rights, they are being erased from the face of the earth as some 101 chieftains and lady chieftains have already been killed in the last years. Indeed, enrichment of these corporations in cohort with power-that-be under the guise of militarization means the dispossession of the poor IPs who are being treated as disposable wastes.

From Corporate Globalization, the Indigenous peoples are now being empowered to harness their collective potentials through cooperativism.

Let there be no mistake on the very essence of cooperativism that we are now advancing otherwise we are no better than the neo-liberal capitalists whose development paradigm can be likened to the workings of an auto-immune disease syndrome (AIDS), where no less than the body’s defense mechanisms are attacking the vital organs.

Let notice be served to one and all that we in the cooperative movement are firmly adhering to the United Nations’ definition as the full development of human potentials, the expansion of choices and opportunities. That for development to be so, it must pass a three-way test: First, is it ecologically sustainable? This means it does not harm the environment but instead nurtures it; Second,

does it benefit the people? This means, responsive to their needs; and Third, does it have people’s participation?

Unless all of the three criteria are satisfied, no development can take place, only maldevelopment or development aggressions!

It is quite puzzling that so much has been said about development, yet, we have totally destroyed the ecosystems and left the ecological people wallowing in poverty. It is even a glaring paradox that we talk of agricultural development, yet, our country is still not self-sufficient even on basic staples like rice and milk. Yes, everyone is profiting from farming except the farmers.

The IMF-World Bank spoke of development before, toppling down the forest to give way to Chico River Dam in the Mountain Province despite the serious resistance from the Ifugaos led by Macliing Dulag. It was then the time of Marcos dictatorship when projects were just rammed down the throats of the populace and no amount of protest could stop such outpourings what had been described then as development aggressions.

That name was again invoked in putting-up the Bataan Nuclear Power Plant that cost the country more than two and half billion dollars, when the price should only be a billion or so. For interest alone, the Philippine government is paying an amount yearly bigger than the annual budget of the health department for a mega project that had not at all produced even a single watt of

electricity as it was established in an earthquake-fault area. What a tragedy in a country that cannot even put-up a hospital for the Indigenous People who are dying early for not knowing what an antibiotic means!

It was the height of the travesty, a Trojan horse that has sucked the nation dry of its economic blood burying us in heavy foreign debt that even the new born must pay for something that has not at all benefit the country.

But we need not look far to see how the word is mangled beyond recognition. The loggers have decimated our forests, industries have treated the bays as their waste pits, costly agricultural technologies tied up to use of heavy chemicals promoted, mangroves destroyed to give way to structures - all done in the name of DEVELOPMENT! All these speak well of development aggressions that must be rectified as we now advance Biyaya ng Pagbabago. Before the rectification process, it behooves upon all of us to re-examine what really is the

Falling in love with your life

Sometimes, we feel our life is turning miserably. Our negativism doesn't allow us to keep our eyes, ears - and, most important! - our minds, hearts and souls opened. We're reaching our breaking point. This breaking point can be the prelude to our strongest moment. Can be! Must not! But if yes, then it is when we reach our breaking point, we discover our real strength. Allow me to ask you, my dear readers: "What happens to you or with you when you reach your breaking point?"

Do you face it or do you run away? I'll be giving you a very simple answer: If you face ityou break it. If you run away (and/or close your ears, eyes and mouth) - it breaks you!

Everyday - a dull reality!

Many of us will answer this question with a big YES! Actually, we do like to cover a newborn's day already with a grey veil.But, each day has a new face, but sometimes we don't have the strength to watch its countenance. Of course, not every day has adventures and highlights. Would be really too easy!

Contrary to what might be expected, I look back on experiences that, at the same time, seemed especially desolating and painful with a particular satisfaction. Indeed, everything I have learned,

everything that has truly enhanced and enlightened my existence, has been through affliction and not through happiness.

If it ever were to be possible to eliminate affliction from your earthly existence, the result would not be to make life delectable, but to make it too banal and trivial to be endurable.

By observation, we can feel that many of us need help to manage our everyday life. We need something that would keep us going as we journey through life. Many times we can also learn from other people and their experiences.

And here is one more thing: Affection is the humblest love - it gives itself no airs. It lives with humble and private things: soft slippers, old clothes, old jokes, and the thump of a sleepy dog's tail on the kitchen floor. The glory of affection, the disposition of mind, the good will and tender attachment, that can unite those who are not "made for one and another"! .

For me life has been a thing of ups and downs in approximately equal measure. I don't have something sensational to report every day about my progress. Often, I wonder if fulfillment in life is necessarily tied to change for the better. But one thing is for sure: I keep staying in

love with life.

Falling in love with your life means taking advantage of what you have and chasing after the things you want. It means doing, going, and truly living.

You discover what you’re wildly passionate about, and you make time for those things.

Love is beautiful, but it isn’t everything. There are so many other things to be passionate about besides a person—art, photography, music, writing, literature, sports, exercising, work—to just name a few. When you start falling in love with your life, as opposed to investing all your time and energy into a relationship, you find time for the things that light a fire within you, the things that inspire and fuel you. And your life becomes more satisfying and complete as you focus on those things rather than romance.

You become more in-tune with your wants and needs. Falling in love with your life means learning what you love, what you desire, and what you need. It means focusing on your goals and how you can, and will pursue them. It means discovering what you really want out of relationships, out of yourself, out of your existence on this earth, and creating a well-designed plan for your future.

You value the relationships that you do have, instead of focusing on the ones you don’t. Romantic relationships aren’t the only things that fill your life with love and happiness. When you’re focused on things other than your love life, you invest more time in the people who fill you—your family members, friendships, and other platonic relationships. And you learn the incredible value of those people. You travel, explore, and live selfishly. When you fall in love with your life, you want to squeeze every minute dry. You want to travel to new places, try new foods, explore, and live how you want. This isn’t wrong. Falling in love with your life means taking advantage of what you have and chasing after the things you want. It means doing, going, and truly living.

Higher manufacturing growth seen in Q2

THE growth of the manufacturing sector will likely pick up in the second quarter of the year due to increase in demand, an economist said Sunday.

"Seasonal increase in demand towards April-May 2023 in view of the Holy Week holidays, vacation season amid the further pick up in both local and foreign tourism, fiestas, Mother’s Day, reunions, and other celebrations during the summer season would lead to some pick up in manufacturing activities and other business activities,"

Rizal Commercial Banking

Corporation chief economist Michael Ricafort told the Philippine News Agency.

Data from the Philippine Statistics Authority earlier showed that the growth of volume and value of production eased in March.

The Value of Production Index grew by 4.9 percent in March, slower than the 9 percent in February, while the growth of the volume of production eased to 2.2 percent from 5.2 percent.

However, Ricafort said the increase in foreign direct investments (FDIs) could help the manufacturing sector grow at a faster pace.

FDIs posted net inflows of P1.05 billion in February this year.

"Foreign direct investments already back to pre-pandemic highs recently could eventually lead to increased manufacturing activities in the country," he said.

"Another source of growth for the economy, as well as in the manufacturing sector, would be the country's inclusion into the Regional Comprehensive Economic Partnership (RCEP), which is the world's biggest free trade agreement, led by China, that would help

Car sales up 21.8% in April

THE Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA) reported Monday their combined sales in April 2023 increased by 21.8 percent to 30,643 units from 25,149 units a year ago.

Both year-on-year sales of passenger car and commercial vehicle segments improved by double digits.

Passenger cars sold a total of 7,317 units last month, 16.9 percent higher than the 6,259 units sold in April 2022.

Commercial vehicle sales increased by 23.5 percent to 23,326 units in April 2023 from 18,890 units a year ago.

“The improving economic indicators, which in fact remain favorable until the end of the year according to a government report, is

an essential metric for the continued growth of the auto industry. At the same time, this is perfectly timed with the market availability of a wider range of motor vehicle models being offered by our members, responding to the growing needs of customers,”

CAMPI president Rommel Gutierrez said in a statement.

From January to April 2023, CAMPI and TMA sales jumped by 28.1 percent to 127,927 units from 99,903 units in the same period last year.

On a year-to-date basis, sales growth of passenger cars was higher than the commercial vehicle segment at 30.5 percent and 27.3 percent, respectively.

Sales of passenger cars in the first four months of 2023 reached 32,070 units

compared to 24,582 unit sales in the same period in 2022.

Commercial vehicles sold 95,857 units in the January to April 2023 period, higher than the 75,321 units sold in the same period last year.

“As the economic outlook remains favorable, the auto industry is optimistic to attain full recovery from the pandemic-induced challenges –well-positioned to grow to significant levels, even higher than the pre-pandemic figures. It is worth noting that the industry has already recorded this growth trajectory in the past four months compared with the 2019 levels,” Gutierrez added.

Top vehicle brands in the country as of end April 2023 were Toyota, Mitsubishi, Nissan, Ford, and Honda.

(PNA)

Renewed Malampaya contract seen to add $600-M investments

THE extension of the Malampaya natural gas field service contract will add at least $600 million worth of investments for drilling two wells and subsea facilities, the Department of Energy (DOE) said Tuesday.

In a virtual press briefing, DOE Undersecretary Alessandro Sales said the SC 38 Consortium is looking at between $80 million and $90 million investment to drill one well.

Under the work program commitment for the first phase, the Consortium is required to drill at least two wells.

"In fact, in their submissions to us, they are indicating that they are prepared to drill for three wells... because it works out cheaper when they drill more

wells," Sales said.

Aside from well drilling, he said the Consortium would need to spend another $330 million to $360 million for the tieback and subsea facilities.

These infrastructures would deliver the natural gas for production in the Malampaya facility, Sales explained.

He estimated the additional natural gas that would be produced by the Malampaya gas-to-power project given the extension of its contract would be about 200 billion cubic feet of gas.

Meanwhile, DOE Secretary Raphael Lotilla said his office would push for early exploration in Malampaya to keep the gas flowing and meet the country's rising energy requirement.

"We really want to start as

entice more foreign direct investments into the country, as a production or marketing base, or as access point to bigger export market

with other RCEP member countries," he added.

Ricafort said the easing year-on-year inflation would also lead to lower

interest rates, thus easing inflationary pressures and lower financing costs that would support faster growth in manufacturing. (PNA)

Alsons net income up by 73% to P156M

ALSONS Consolidated Resources, Inc. posted a 72.8% increase in its first-quarter net income attributable to the parent firm to P155.84 million from P90.16 million a year ago on steady power demand.

In a regulatory filing on Monday, the company said its first-quarter revenues rose 24.3% to P3.32 billion from P2.67 billion in the same period last year.

“The first quarter of 2023 saw steady power demand from our key power markets in Mindanao,” Alsons’ Deputy Chief Financial Officer Philip Edward B. Sagun said in a statement.

The company attributed the revenue rise to its 210-megawatt (MW) Sarangani Energy Corp. and 100-MW Western Mindanao Power Corp.

In the January-to-March period, Alsons recorded a net income of P542.28 million, 67.3% higher than the P324.07 million a year ago.

by yearend, while two other renewable energy facilities are poised for development.

These are the hydropower and solar power projects in Zamboanga del Norte, with a potential combined capacity of about 37.8 MW; and a hydropower project

DEED OF EXTRAJUDICIAL SETTLEMENT OF THE ESTATE OF SPOUSES LORENZO CABAHONFONOLLERA and CRISTITA EULLARAN FONOLLERA

in Bago River in Negros

Occidental with an expected capacity of 42 MW. To date, Alsons has four power facilities with a combined capacity of 468 MW. The company serves 14 cities and 11 provinces in the country.

resident of Block 1, Lot 2, Kublai Khan St., Kingsville Subdivision, Barangay Mambugan, Antipolo City, Rizal; 6. ARNOLD BALAOEG FONOLLERA, married, of legal age, Filipino and a resident of Block 42, Lot 55, Mt. Tabor St., Phase 1, Dasmarinas City, Cavite;

soon as possible. We cannot wait for 2024 because it takes two to three years (or) three to four years to drill successfully and get the gas flowing. When we start only in 2024, what is going to happen? We would have lost a lot of time," Lotilla said.

On Monday, President Ferdinand R. Marcos Jr. signed the Renewal Agreement for the Malampaya Service Contact No. 38 (SC 38) for a final 15 years, or until Feb. 22, 2039.

The gas-to-power project is energizing 20 percent of Luzon's electricity requirement.

Since it began its operation, Malampaya has turned over P374 billion in royalties to the national government, with shares of P26 billion in 2022. (PNA)

Sarangani power plant supplies power to several areas in Mindanao such as Sarangani province, General Santos, Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan, and Butuan.

The company said its Western Mindanao Power plant is the sole major power generation facility in Zamboanga Peninsula, supplying power to Zamboanga City, while also providing ancillary services to the National Grid Corp. of the Philippines to help stabilize the Mindanao power grid.

Alsons said it is now focusing on expanding its renewable energy capacity in the next few years.

Currently, it has eight run-of-river hydroelectric power facilities in the pipeline.

Alsons said its 14.5-MW Siguil hydropower plant is expected to start operations

Notice is hereby given that the late spouses LORENZO CABAHONFONOLLERA and CRISTITA EULLARAN FONOLLERA, who both died intestate and without will at Cagayan de Oro City on May 20, 1996 and June 17, 1999 respectively. The said deceased, at the time of death, left the following property: A parcel of land (Lot 1443-B-4, of the subdivision plan, Psd - 07-03- 002922, being a portion of Lot 1443-B, (LRC) Psd-224084), situated in the Barrio of Tubtubon, Municipality of Sibulan, Province of Negros Oriental, Island of Negros containing an area of one thousand twenty square meters (1,020 sqm) co-owned with heirs of Eufrecina Fonollera, the metes and bounds thereof are particularly described in Transfer Certificate of Title No. T-25456 issued by the Registry of Deeds for the Province of Negros Oriental is the subject of DEED OF EXTRAJUDICIAL SETTLEMENT OF THE ESTATE OF SPOUSES LORENZO CABAHON-FONOLLERA and CRISTITA EULLARAN FONOLLERA. Whereas, to the best knowledge and information of the parties hereto, the said deceased left no debts at the time of death; Whereas, the HEIRS being of legal age and with full civil capacity to contract hereby these presents agree to adjudicate unto themselves the above-described property extra-judicially in the manner and form hereinafter set forth. Made and executed by and among the surviving legal and compulsory heirs of the deceased, namely: 1. FELECITAS EULLARAN FONOLLERA, daughter of the deceased who is of legal age, Filipino, single, and a resident of Ramonal Village, Camaman- an, Cagayan de Oro City, Philippines; 2. RAYMUNDO EULLARAN FONOLLERA, son of the deceased, of legal age, Filipino, married, and a resident of Ramonal Village, Camamanan, Cagayan de Oro City, Philippines; and 3. SARAH FONOLLERA-EGUNA, daughter of the deceased, of legal age, Filipino and a resident of Mt. Cameroon St Blk 11, Lot 18, Bellevue Subdivision, Upper Carmen, Cagayan de Oro City, Philippines, all above-mentioned heirs are represented by VIVIAN DE LEON FONOLLERA, of legal age, single, Filipino and a resident of Purok 4 Maslog, Sibulan, Negros Oriental, Philippines through a Special Power of Attorney entered into the notarial book of Atty. Percy G. Salazar under doc. no. 207, page 41, book no. XVI, series of 2023. Children of the late MELEUSIPO EULLARAN FONOLLERA, son of the deceased: 4.

REMELIZA FONOLLERA BONTOGON, married, of legal age, Filipino and a resident of Block 3, Lot 9, Samui St., Amarilyo Crest Subdivision, Havila, Brgy. Mambugan, Antipolo City, Rizal; 5. MELEUSIPO BALAOEG FONOLLERA JR, married, of legal age, Filipino and a

7. DANNAH FONOLLERA ARCHIVIDO, married, of legal age, Filipino and a resident of 109 Stockholm St., Pasig Greenpark Village, Bry. Manggahan, Pasig City, all the above-mentioned are represented also by VIVIAN DE LEON FONOLLERA through a Special Power of Attorney dated January 13, 2023 entered into the notarial book of Atty. Percy G. Salazar under doc. no. 49, page 10, book XV, series of 2023.

8. AIDA FONELLERA MAGET of legal age, married and a resident of 226 Lexington Road, Kingfield Maine, USA, herein represented also by VIVIAN DE LEON FONOLLERA through an apostilled Special Power of Attorney dated July 22, 2022 bearing the seal of Savannah Merril, a Notary Public in the State of Maine, and certified by Shenna Bellows, the Secretary of State of Maine; Son of the late CELIA FONOLLERA MERO, daughter of the deceased:

9. JULIUS RAPHAEL FONOLLERA, married, Filipino, of legal age and a resident of Lot 30, Block 27 Vista Grande Subdivision, Lumbia, Cagayan de Oro City, herein likewise represented by VIVIAN DE LEON FONOLLERA through a Special Power of Attorney dated January 13, 2023 entered into the Notarial Book of Atty. Percy G. Salazar under doc. no. 50, page no. 10, book no. XV, series of 2023. Children of the late REMEDIOS FONOLLERA GRAFIA, daughter of the deceased: 10. REYNALDO FONOLLERA GRAFIA, married, of legal age, Filipino and a resident of Zosimo Loon Subdivision, Pasay Masiay, San Roque, Zamboanga City; 11. DIONISIO FONOLLERA GRAFIA JR, married, of legal age, Filipino and a resident of Ramos Drive, Lumiyap Road, Divisoria, Zamboanga City; 12. NELIDA GRAFIA SAN JOAQUIN, married, of legal age, Filipino and a resident of Ramos Drive, Lumiyap Road, Divisoria, Zamboanga City, all of them are likewise herein represented by VIVIAN DE LEON FONOLLERA through a Special Power of Attorney dated February 7, 2023 entered into the notarial book of Atty. Hashmin A. Aradni-Dugasan under doc. no. 463, page no. 93, book no. 89, series of 2023. Son of the late ANTONIO EULLURAN FONOLLERA, son of the deceased:

13. DANILO DE LEON FONOLLERA, married, of legal age, Filipino and a resident of Divisoria, Zamboanga City, herein represented by VIVIAN DE LEON FONOLLERA through a Special Power of Attorney dated February 11, 2023 entered into the notarial book of Atty. Dalvio Martinne B. Arisgado under doc. no. 243, page 43, book 2, series of 2023 as per Doc. No. 101; Page No. 21; Book No. XII; Series of 2023. Under the Notarial Registry of ATTY. MARIE CHRISTELLE T. RUBIO.

17, 2023

BusinessWeek MINDANAO FEATURE

CREDIBLE RELIABLE IN-DEPTH

Editor: GILBERT Y. CHAO

Cebu Landmasters fully sold out Phase 1 of its first Palawan project, launches new tower

•Leading developer in VisMin Cebu Landmasters Inc. (CLI) unveils the fourth tower of the P7-billion development Casa Mira Towers Palawan in Puerto Princesa. The first three towers, which comprise Phase 1, are fully sold out less than a year after launch.

•Casa Mira serves as CLI’s flagship economic brand that accounts for the largest share of company revenues at 47% in 2022, and 33% of CLI’s Q1 2023.

•Casa Mira Towers Palawan is the 14th residential development of the Casa Mira brand.

Leading developer in VisMin Cebu Landmasters, Inc. (CLI) introduces Tower 4 of Casa Mira Towers Palawan, following the remarkable sales performance of its first three towers that sold out

in less than a year after market introduction.

Located at the heart of Puerto Princesa, the seven-tower Casa Mira Towers Palawan with a sales value of Php 6.4 billion serves as CLI’s maiden project in the province. The initial three towers, which comprise phase one of the development, quickly sold all of its 721 units, generating a total reservation sales of P2.1 billion.

The launch of the fourth tower will add fresh inventory for CLI as the company already posted 94% sell out status of all saleable projects across different stages of development as of Q1 2023. Casa Mira Towers Palawan phase one is set for completion in 2026. Meanwhile, the development’s newly

launched Tower 4 is expected to be completed in 2027.

“The outstanding reception to Casa Mira Towers Palawan shows how much CLI’s projects are resonating with the market, especially in new areas of expansion,” highlighted CLI chairman and CEO Jose Soberano III. “We are happy with this achievement, and we believe it is a positive sign as we set our eyes on an expansion to Luzon.”

Casa Mira Towers Palawan presents a mix of 2,017 studio and 1-BR units. The studio units offer a 20-sqm floor area with a price range of P2.1 million to P3 million, while the 1-BR units provide a floor area of 28 sqm to 32 sqm with a price range of P2.6 million and P3.5 million.

Leading developer in VisMin Cebu Landmasters Inc. (CLI) unveils the fourth tower of the P7-billion development Casa Mira Towers Palawan in Puerto Princesa. The first three towers, which comprise Phase 1, are fully sold out less than a year after launch. Casa Mira is CLI’s flagship economic brand that accounts for the largest share of company revenues at 47% in 2022.

Positioned as CLI’s flagship economic brand, Casa Mira accounts for the largest share of company revenues at 47% in 2022 and 33% of CLI’s Q1 2023 sales. The brand caters to young couples, start-up families, business owners and young professionals, promising more space, more amenities, and more value to the Filipino family’s real estate investment.

Casa Mira Towers Palawan figures as the 14th residential development

of the Casa Mira brand. Overall, the Casa Mira brand offers 15,281 units across VisMin that helps fill out the housing backlog in the region. Aside from Casa Mira, also set to help CLI close the housing gap in VisMin are upcoming residential projects in Davao and Butuan.

CLI has a total of 19 projects in the pipeline with a value of P29.75 billion, and is expected to continue its growth trajectory in 2023.

On April 28, the listed company paid regular dividends at Php .15 per share, and special dividends at Php .03 per share. After years of leading the real estate development in VisMin, CLI is set to begin soon its much-anticipated expansion in Luzon. More information about CLI and Casa Mira Towers Palawan is available at https://www. cebulandmasters.com/ project/casa-mira-towerspalawan/.

Cagayan de Oro National High School Junior High (CDONHS-JH) Guidance and Counseling-Teen Center conducted a Series of Symposiums

By Janeth T. Tamondong, LPT, RGC

A symposium on STD/HIV Awareness and Teenage Pregnancy was held last December 2, 2022 at CDONHS-JH Learning Event Center to the grade 9 students with the resource speaker from DepEd CDO OKD-CSEASRH division nurse Amor C. Fajardo,RN. Adolescent pregnancies and sexually transmitted diseases are major global issues, and in response, the Guidance and Counseling – Teen Center of CDONHS JH supported the implementation of comprehensive education on sexuality.

Then, a symposium on Mental Health Coping from Broken Homes and Self-harm was conducted for grade 10 students on March 6 and 7, 2023 at CDONHS-JH Learning Event Center with a resource speaker from the CSWD Psychosocial Division, Ms. Angel Coleen S. Vallespin, Rpm. By educating our

students, we can help them avoid self-harm by teaching them how to deal with their emotions related to family issues. Encourage them to seek assistance, find support, and speak honestly about mental health issues as well. By doing so, they may be able to lessen the stigma and misconceptions associated with mental illness.

Lastly, on April 12, 13, and 14, 2023, grade 10 students participated in a three-day Career Guidance Symposium on Career Coaching at CDONHS-JH Learning Event Center with speakers from the PESO-CDO Job Placement Bureau, Ms. Nadene Eterina and Mrs. Maria Carlota G. Cabading. The purpose of this symposium was to assist students with career planning by providing them with the crucial guidance they need to identify their strengths and limitations as well as the skills

and knowledge they would need to develop in the future in order to fulfill their goals.

Under the supervision of the designated guidance counselors and active support of the school principal Dr. Norma B. Delima of Cagayan de Oro National High School Junior High, the Teen Center's student Catalysts, OSAEC advocates, SSG, and student volunteers enthusiastically led all of these symposiums and training sessions. To keep up with the latest update, connect with us! Just follow and like our official fb page: Cagayan de Oro National Junior High Guidance and Counseling Online on Facebook.

Wage...

from page 1

workers in the country, regardless of their status, should get an increase in their basic pay if the proposed measure is passed into law.

“Tanan dapat makadawat. Kulang kaayo kini kompara sa kamahal sa palaliton, pagsaka sa bayad sa tubig ug kuryente ug pagmahal usab sa social services sa nasud,” he said.

Last May 10, Senate President Juan Miguel Zubiri, author of Senate Bill No. 2022 or the Across-theboard Wage Increase Act,” said the P150 wage hike has been approved “in principle” by Senate Committee on Labor, Employment and Human Resources.

Last year, the Regional Tripartite Wage and Productivity Board (RTWPB)Davao granted a P47 wage hike to all workers in various sectors in the region.

This was implemented in two tranches – the first P31 increase took effect upon the effectivity of wage order on June 19, 2022 and the second P16 increase last January 1, which brought the minimum wage rate to P443 and P438 for workers in non-agriculture and agriculture, respectively.

Workers in the retail/service establishments employing not more than 10 received an additional increase of P15 effective April 1.

In Davao region, Philippine Statistics Authority said that the employment rate in Davao Region stood at 95.1% last January. The underemployment rate was noted at 6.3%.

The agency reported that the Labor Force Participation Rate during this period stood at 63.2%, which accounted for 2.37 million workers in the region.

Cigar...

from page 1

The operation is part of a series of Mindanao-wide law enforcement against the rampant cigarette smuggling via backdoor.

Aside from the Sarangani enforcement, authorities seized a huge volume of smuggled cigarettes from another vessel, within the vicinity of Malita, Davao Occidental.

Confiscated were over 500 master cases of assorted smuggled cigarettes with an estimated value of P20 million.

Combined efforts of Naval Forces Eastern Mindanao and the Bureau of Customs Port of Davao also arrested 11 crew members of MB Marites.

The smuggled cigarettes were intended to be delivered in Digos City for distribution in various retail outlets in the area. The illicit brands confiscated were 325 master cases of President Red FF, 206 master cases of President Black Menthol and three master cases of Commissioner Green Menthol.

The vessel is now under the custody of Naval Forces Eastern Mindanao and to be turned over to BOC Port of Davao.

In Pikit, North Cotabato, local police operatives confiscated from an abandoned Mitsubishi van assorted brands of smuggled cigarettes based

on an informant tip. Found inside the vehicle were two master cases and 20 cartons of the illicit brand Fort.

The van and the smuggled cigarettes are now under the custody of the local PNP while operatives are still looking for the two suspects who abandoned the vehicle.

The joint forces, meanwhile of BIR Revenue 16 – Cagayan de Oro, Philippine Navy, Philippine Army and the local PNP held simultaneous raids on several stores selling smuggled cigarettes in Valencia City and Kibawe both in Bukidnon.

Using Mission Orders issued by the BIR Revenue 16 – CDO simultaneously raided seven monitored and identified local suppliers and sub-distributors as well as the point of sales involved in the direct selling of assorted illicit cigarettes in the Poblacion Valencia City and Poblacion Kibawe.

Authorities were able to confiscate 90 master cases of assorted smuggled cigarettes but did not disclose the brands of the goods.

The same combined forces also swooped down on various stores selling illicit cigarettes in Talisayon and Balingoan both in Misamis Oriental.

Stores raided were Epoch Store, Panulaya Store, Gudilos Store, LRB Store, ELN Store and Jocelyn Store and confiscated from them assorted packs of illicit brands: Nelson, Soda, Cannon, Blast, Delta, Fort and Winston. Store owners were given stern warning that their business permits will be revoked should they continue on selling the illicit brands.

He added that because Asia has diverse issues and, thus, different actions among authorities, there should be flexibility in what measures should be implemented.

“So, we will stir the pot and see where it takes us,” he said.

Public understanding of policies

Relatively, BSP Governor Felipe Medalla said the general public, and not just the regulators and financial sector players, should also understand regulatory policies.

“The advantage of the general public understanding this is they will be more supportive of the regulations,” he said.

He added that most financial market measures currently in place take the lessons from the 1997 financial crisis, which has allowed the Philippine banks, among others, to be stronger from ensuing crises.

This, he said, not only buoyed the financial institutions but the economy as well.

After the 1997 financial crisis, Medalla said the domestic economy contracted by around 0.5 percent and growth in the succeeding years was lower by around 1-2 percent, partly due to the country’s small level of foreign reserves.

He noted that this situation lasted for at least seven years.

On the other hand, with the recent pandemic, Medalla said the economy was able to recover faster, partly with the help of the liquidity boost from the central bank, which was able to increase its foreign reserves, to a record-high of $110 billion in December 2020.

a member of a cooperative, REJOICE! You are highly adhering to the time-honored and universally-accepted cooperative principles and practices which are now the countervailing force to stop development aggressions. Indeed, be transformative for people, planet, prosperity and peace – all for the greater Glory of God!

Falling...

from page 4

You shift your focus to other important pieces of life. When you’re not focused on a relationship, you take and make more time for other things— your career, hobbies, future, finances, etc. Your priorities shift in healthy ways and you learn to ground yourself rather than letting a relationship ground you.

You spend more time doing things, rather than wishing for things to happen. Falling in love with your life means that you don’t like to waste time. You don’t like to chase things that don’t build or grow you. You don’t like to live a mediocre, uninspired existence. When you love your life you do things, rather than being a passive character in your own story. You value advice from others, and take time to lend a listening ear. You want to learn, to experience, to grow, to be inspired. Thus, you value the advice and guidance given to you from others and you’re more willing to be a support system for people who may need you.

and a Diploma in Sustainable Studies, Sustainable Economic Development, also from MSU IIT.

“She is a member of the Rotary Club of Marawi, Beta Sigma Lambda, Women Business Network, Bangsamoro Executives and League. Thank you AG Sittie Jehanne for accepting the appointment,” added DGE Go.

Duties of AG

Rotary International is a global service organization that brings together business and community leaders to provide humanitarian services, encourage high ethical standards in all vocations, and advance goodwill and peace around the world. The Assistant Governor is a key leadership role in Rotary clubs, responsible for supporting and mentoring club presidents and their boards to ensure they are meeting their goals and objectives.

The Assistant Governor (AG) acts as a liaison between the district governor and the clubs in their assigned area. They visit each club regularly to provide guidance, support, and feedback. AGs help clubs develop and implement their strategic plans and work to ensure that the Rotary International goals are being met. They also assist clubs in identifying potential members and encourage the growth of the organization.

confidence along with the formal setup, better health and safety, and more stable income.

"Being part of this project gave me the confidence to inspire others. Our local environment is safe from hazardous substances and the e-wastes we sell are managed properly in this facility. I can see now we are a big part of our community. We are not “just” women," said Joanna Amican, an e-waste dismantler.

"In the past, my everyday worry was where to get the next meal. Now, when I am already a formal e-waste dismantler, I am sure I can put food on the table three times a day," added Charina David, another beneficiary.

Informal e-waste recycling has been a source of livelihood for many residents in Brgy. Dampalit. The absence of a formal facility posed health and environmental hazards, as recycling was done in the home, where families, including children, were exposed to toxic materials like polybrominated diphenyl ether (PBDE), bromine, and other heavy metals. PBDE was normally used as flame retardants in old television sets and computers.

As of January 2023, the TSD facility has collected 50,000 cathode ray tubes from television sets with PBDEcontaminated plastic casings, or approximately 1.1 tons of PBDE. It has also collected 200 tons of recyclable materials from e-waste, attaining a recycling rate of 20%.

that the important thing for regulators right now is to be on the lookout for systemic risks, determine how to address these, and the implications for the future of how the authorities would intervene.

He likened the systemic risk to superspreaders at the height of the Covid-19 pandemic, wherein one does not know if he or she has the virus and is spreading it to the detriment of people around.

He said this was experienced during the 1997 Asian Financial Crisis, the 2007-2008 global financial crisis, the 2011 European debt crisis, and the recent pandemic.

He pointed out that with the ongoing banking issues in the US, the move of the authorities to provide liquidity to an ailing bank is not targeted mainly to save that bank but to prevent contagion.

“You don’t want a perception of risk magnifying and everybody sort of panic… When the authorities injected liquidity into their respective financial system (it has) nothing to do with monetary policy or inflation. That has everything to do with making sure that the economic engines are running,” Ravalo said.

Asked how Asia would be able to address the current situation without coordinated efforts among regulators, Ravalo said this is what authorities from the region and international organizations want to know during the conference, citing that, to date, this is discussed on a per country level.

After the lockdowns started in March 2020, growth, as measured by gross domestic product (GDP), contracted by 0.7 percent in the first quarter of that year, the first negative print since the last quarter of 1998.

You spend more of your days outside or in nature. I know it's terribly hot at the moment. But, the world around you has more value now. You enjoy hiking, walking, biking, or just sitting outside in the shade. You love just being— around friends or solo, just soaking in the beauty the world has to offer.

GDP even registered a-16.9 percent print in the following three months.

The negative growth print continued until the next three quarters but it recovered in the first quarter of 2022 with an expansion of 12 percent.

Since then, growth has normalized, with the first quarter 2023 output of 6.4 percent.

Medalla said despite the growth contraction during the pandemic, domestic banks remained strong and were able to extend loans to help lift the economy.

He said fiscal and monetary reforms after the Asian Financial Crisis has allowed the government, as well as Philippine financial institutions, to become more resilient and limit the impact of the latest pandemic. (PNA)

Debunk...

from page 4

essence of development and to define what it is not. It is not just providing for basic necessities such as food, shelter or clothing – even those in prisons have those. It is not increases in Gross National Products as such may have just made a few elite richer at the expense of the many wallowing in dire poverty. Still in the dark on the essence of development? If you are

You pray often, and feel both humble and thankful for what you’ve been given. Every day, life surprises you with its beauty and wonder. You find yourself praying for the blessings you’ve been given, and relying on your faith to pull you through the hard times. You trust that you will find love when the timing is right; in the meantime, you are thankful and humble for where you are.

Love...

from page 4

from page 3 Rotary...

all of our wrong living and sins. Only He is able to change our sinful nature and self-centered heart, so we can begin to love others with His own Christlike love.

How do you learn to love?

You let Jesus love you first, and ask Him to take full control of your heart and character. Then as you receive His real love and power every day, you can start learning how to unconditionally love people like He does, since you will be getting the love you need from Him. Just think a minute

from page 8

In addition to providing guidance to club leaders, AGs play a key role in organizing and promoting Rotary events and initiatives. They work closely with district committees to plan and execute district-wide projects, such as fundraising events, service projects, and leadership training sessions. AGs also work with club leaders to ensure that members are aware of and participate in Rotary’s various programs and opportunities.

Another key duty of an AG is to ensure that each club is following Rotary’s rules and regulations. This includes monitoring club finances and ensuring that clubs are complying with Rotary’s ethical standards. AGs are also responsible for identifying and addressing any issues or concerns that may arise within their assigned clubs.

The Assistant Governor is a critical role in Rotary’s organizational structure. They serve as a mentor, advisor, and advocate for the clubs in their assigned area. Their duties include supporting and guiding club leaders, organizing and promoting Rotary events, ensuring compliance with Rotary’s rules and regulations, and working to advance the organization’s goals and objectives. Through their work, AGs help to strengthen Rotary’s impact and ensure that the organization continues to make a positive difference in communities around the world.

from page 8

In Metro Manila, most e-waste is handled by the informal sector, including approximately 2,300 junk shops, as well as women and children. The establishment of the TSD facility in Malabon City provides a model for safe and proper e-waste recycling that could be replicated in other communities.

The success of the TSD project shows that with proper support and resources, communities can adopt sustainable practices that benefit both the environment and society.

"We take pride in our involvement in this project that not only empowers women but also helps contribute to proper e-waste management. Our commitment to building a sustainable future through collective action drives us to collaborate with our partners in promoting environmental stewardship and community empowerment," said Apple Evangelista, Head of Sustainability and Social Responsibility at Globe.

E-waste is one of the fastestgrowing waste streams in the Philippines, with the country generating 32,664.41 metric tons per year, according to the Global E-Waste Monitor in 2019. E-waste management in the Philippines faces challenges such as the absence of formal recycling facilities and a lack of formal inventory of e-waste generation.

Globe is committed to continuously support initiatives that promote sustainability and inclusivity. The TSD project is just one example of its efforts to create a positive impact in the Philippines.

To learn more about Globe, visit https://www.globe.com. ph/.

BusinessWeek

MINDANAO FEATURE CREDIBLE

DGE Go appoints Sittie Jehanne Mutin as AG for RI District 3870

BY JOEL CALAMBA ESCOL Managing Editor

CAGAYAN DE ORO CITY – Rotary International

District 3870 Governorelect Gilda “Gigi” Go has chosen another Rotary officer for for RY 20232024.

“Meet AG Sittie Jehanne Mutin. For her professional background, she was Program Coordinator, USAID GEM- LEAP; Assistant Secretary, Office of the Presidential Adviser on the Peace Process (OPAPP); and Chairperson, Comission on Women, Regional Commission on Bangsamoro Women ARMM. Currently, she is an independent consultant for Gender, Peace, Maranao Art and Culture, and Halal Cuisine,” said DGE Go.

Educational background, AG Sittie

Fellow of the Mindanao Bridging Leaders Program at the Asian Institute of

ROTARY/PAGE 7

Globe-supported TSD facility in Malabon City empowers women workers with safe and sustainable e-waste recycling opportunities

Leading digital solutions

platform Globe has partnered with key stakeholders to raise awareness about the importance of e-waste management in the country and the critical role that women play in this area.

The project, entitled “Implementation of Polychlorinated Biphenyls (PCB) Management Programs for Electric Cooperatives and Safe E-waste Management,” is a joint undertaking by the Department of Environment and Natural ResourcesEnvironmental Management Bureau (DENR-EMB) and the United Nations Industrial Development Organization (UNIDO), with funding from the Global Environment Facility (GEF). The Integrated Recycling Industries, Inc. (IRI) and EcoWaste Coalition were engaged by UNIDO to assist in the implementation of project activities in the e-waste project sites.

A Treatment, Storage and Disposal (TSD) Facility in

Barangay Dampalit, Malabon City was established through the partnership. Women waste recyclers working in the TSD facility were trained on the dismantling of e-waste and are now equipped with safe and proper e-waste recycling practices. The project created job opportunities and has empowered the women mangangalakal.

As part of the project, Globe provided funding support to the facility by donating a vehicle that will be used for collecting and transporting e-waste generated from e-waste collection events initiated by the project. Globe also provided e-waste collection bins distributed to the different office buildings at the DENR- EMB, as well as communications materials. In a recent dialogue, the women members of the Samahan ng Mangangalakal expressed their appreciation for the project, especially the