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INSIDE LOOK

Philex net income drops Corporate World

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First GMO rice set for launch in PHL in 2016: researchers Agri-Business

BPI rated investment grade by 2 int’l rating agencies

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Banking & Finance

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XCCA holds culture-based education symposium Arts & Culture

MINDANAO DAILY NEWS SECOND SECTION

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Briefly Islamic finance THE City of Golden Friendship recently hosted the first international conference on Islamic Finance, Muamalat and Financial Criminology (IFMFC) in Cagayan de Oro City. The two-day conference, held in Grand Caprice Restaurant, was participated by Islamic bankers, government officials and employees, financial and academic regulators, government auditors, accounting practitioners, financial and academic consultants from Malaysia, Indonesia, Myanmar, Nigeria, India and the Philippines. It was organized by the Accounting Research Institute (ARI), Universiti Teknologi MARA Malaysia, Philippine Association of Islamic Accountants (PAIA), Philippine Institute of Cer tified Public Accountants (PICPA) Cagayan de Oro-Misamis Oriental chapter, National Commission on Muslim Filipinos (NCMF), and Mindanao State University (MSU) Marawi campus. The IFMFC was aimed at discussing the issues and presenting peer reviewed researches related to Islamic financial products and ser vices development, Islamic accounting and auditing, as well as the challenges and opportunities in achieving a steadfast Islamic industry.

Science Expo DAVAO City -- The Mindanao Science and Technology Centrum Foundation Incorporated, first science-oriented facility in Mindanao opened Tuesday its more than a month-long Science Sparks exhibition at Barangay Bago Oshiro, Mintal aimed at enhancing the interest and knowledge among school-children the relevance of science and technology. Dr. M ar ia D elia M orad o s, president of the MSTCI said the significance of the exhibition is for the young to have a better understanding of the need to develop and to conserve sources of energy and to come up with scientific basis for new technologies that will derive new source of energy. She said there is also a need to motivate the young minds to come up with means and gadgets to conserve energy.

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NEA clarifies FIBECO not an ‘ailing’ coop

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BusinessWeek MINDANAO As of 6:15 pm Nov. 6, 2013 (Wednesday)

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By IRENE JOY B. DAYO Reporter

HE First Bukidnon Electric Cooperative Inc. (FIBECO) has instituted corrective measures clarif ying what they claimed an “erroneous” newspaper reports categorizing the local power distributor in Bukidnon as among the “ailing” electric cooperatives in the country.

ILLEGAL MINING. Policemen secure an illegal small-scale mining site raided by a joint task force before dawn Tuesday in Purok 8, Barangay Taligaman in Butuan City. Backed by Chinese financiers, it is supposed to be the biggest illegal mining operation in the area. mindanews photo by erwin mascarinas

According to the reports published in a nationa l broadsheet (Oct. 7) and in this paper (Oct. 21), FIBECO had been included in the list of “ailing” power utilities based on a presentation to the media made by NEA D e put y Ad m i n i s t r at or for Electric Distribution Utilities Services Edgardo R. Piamonte. I n h i s pre s ent at ion, Piamonte noted that out of the 114 ECs in the country, 18 of them have been posting net

loss and labeled as “ailing” power utilities. These include, among others, FIBECO. The rest were the Northern Samar Electric Cooperative I nc . ( NOR SA M E L C O), Ca ma rines Sur Elect ric Cooperative I; Province of Siquijor Electric Cooperative Inc., Marinduque Electric Cooperative Inc.; Davao Oriental Electric Cooperative I nc . ; A g u s a n d e l Su r Electric Cooperative Inc.; FIBECO/PAGE 23

2 companies investing P390-M in ARMM CdO to strictly enforce MARAWI City -- Two large companies are set to put up a combined investments of P39 0 m i l l ion i n t he Autonomous Reg ion i n Muslim Mindanao (ARMM) after getting the approval of the region’s board of investments. L a F r u t e r a , I nc . , a subsid ia r y of Uni f r ut t i Group of Compa nies will invest P300 million for the expansion of 300 hectares Cavendish banana

plantation in Pandag town in Maguindanao to increase its banana production by as much as 1.2 million boxes per year. Accordingly, La Frutera wants to take advantage of the increasing demands for bananas in the global market particularly in China, Japan and the Middle East. Meanwhile, Iron Blaze Petroleum, Inc., a company engaged in the importation, distribution and sales of

petroleum products, will put up a P90 million oil depot at the Polloc Freeport in Parang, Maguindanao with a capacity of 9 million liters. Lawyer Ishak Mastura, AR M M Reg iona l Board of I nvest ment s (R BOI) chairman, said they have provisionally approved the registration of investments of bot h companies in a joint board of governors and management committee companies/PAGE 23

Mindanao Daily NEWS

Anti-Mendicancy Law WITH t he increase of street children singing Ch r ist ma s c a rols a nd b e g ga r s k no c k i ng on vehicles here, the Cagayan de O ro Cit y C ou nc i l C om m it te e on S o c ia l Services calls for the strict implementation of t he Anti-Mendicancy Law. City Councilor Annie Daba has ex pressed concern about the safety

of the mendicant children. “Kuyaw mangaligsan ug ang pinakalooy ang pag gamit sa mga batang walay boot aron magpakilimos,” she said. Daba also appeals to motorists not to tolerate beggars or children on the streets singing Christmas carols and asking money in return. enforce/PAGE 23

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Editor : Cheng Ordoñez , e-mail- cheng.ordonez@gmail.com

Economy

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NGCP assures public of continued repair, maintenance of lines to thwart outages

This is a panoramic view showing some of the high-rise buildings amid a hazy sky in Metro Manila, particularly in the Taguig City-Makati City business districts. pna photo by oliver marquez

BIR padlocks trading firm due to underdeclaration of taxable sales The Bureau of Interna l Revenue (BIR) padlocked on Wednesday a registered trading corporation and its four branches located in Quezon City and Caloocan C it y for v iol at i n g t he provisions of the National Internal Revenue Code of 1997, as amended (Tax Code) on Value Added Tax (VAT). A.R. Vitug Trading Inc., a registered taxpayer located in Novaliches, Quezon City, was shuttered for understatement of taxable sales or receipts by 30 percent or more of correct taxable sales or receipts for the subject taxable period pursuant to Sec. 115(a)(3) of the Tax Code as implemented by Revenue Memorandum Order No. 3-2009. Likewise closed were its four bra nch of f ices, namely: V&W Trading in Novaliches, Quezon City; A.R. Vitug Trading Inc.

in Novaliches; Pangarap Trading in Caloocan City; and Vi-Wi l l Trading in Caloocan City. The subject business establishment and its four branches were the subject of over t sur vei l la nce operations conducted by a team of Revenue Officers of Revenue District Office No. 28, Novaliches for the period covering Aug. 27, 2013 to Sept. 6, 2013. Records of the BIR showed that A.R. Vitug Trading Inc. is registered as a VAT taxpayer and has filed VAT returns and declared therein taxable sales or receipts, particularly taxable year 2012 and 2013 (first two quarters). Monitoring of its sales for the said taxable periods, however, disclosed t hat t he trading corporation underdeclared its sales by bir/PAGE 21

MANILA -- The National Grid Corporation of the Philippines’ (NGCP) on Wednesday assured t he public of continued repair and maintenance of its facilities to prevent widespread power interruption around the country. In a statement, the grid operator said it completed last October 18 the remedial works on a leaning tower, Tower 56, of the Zamboanga-Pitogo 138-kV transmission line. After investigation, it was found out that the tower partially leaned because the soil where it is standing has eroded due to continuous rains that hit Zamboanga City in the second week of October.

If left unrepaired, the leaning tower “may lead to widespread disruption in the power delivery service” of NGCP, the statement said. Aside from securing and realigning the Tower 56, NGCP said they also put up a by-pass structure, located about 35 meters away from the original tower, to reroute the electricity passing through the original tower. “Though momentar y emergency shutdowns were implemented to facilitate the construction of the bypass structures, NGCP still managed to transmit power to the rest of Zamboanga City,” the grid operator added. (PNA)

P1.4 billion or 20 percent of the total, bolstered by the acquisition of Cavite Expressway at the start of the year. CAVITEX is a 14-kilometer toll road built in two segments running from Paranaque to Cavite with traffic of 100,000 vehicles entries a day. T h e c on g l om e r a t e ’s Hospita l Group a lso contributed P436 million or seven percent of the total. I n e a r l y Ju n e t h i s year, MPIC completed its investment in a 51-percent equity ownership of De Los Santos Medical Center (DLSMC), a 150-bed hospital in Quezon Cit y, Met ro Manila. It a l s o s e a l e d l a s t month a deal to acquire a 51-percent equity stake in Tarlac’s Central Luzon Doctor’s Hospital (CLDH),

the eighth hospital in its growing nationwide chain of private hospitals of now 2,137 beds. Apart from these projects, MPIC and Gokongwei-led JG Summit Holdings Inc. have formed MPIC-JGS Airport Consortium, one of the groups qualified to bid for the government’s P17.5-billion Mactan-Cebu Airport project. T he consor t iu m is cu rrent ly f i na lizi ng its bid ahead of a submission deadline on November 15. T h e M PIC -Ay a l a Corp. consortium in the Automated Fare Collection System (AFCS) has been also declared to bid for the project to provide a unified ticketing system for Manila’s metro rails. Bid submission is set on November 18. (PNA)

M A N I L A -- Tr avel ler s International Hotel Group Inc., t he developer a nd operator of Resorts World M a n i l a (RW M), h a s embarked on the expansion of the integrated casino resort, confident about the prospects of the Philippine gaming industry. “We believe that there is growth in the market locally and also internationally. We are also quite encouraged with the government efforts to promote tourism,” Travellers President Kingson Sian told reporters after the company debuted at the Philippine Stock Exchange on Tuesday. Sian said a “number of good competitors” also augur well for helping promote the entire country. C omp a ny c h a i r m a n David Chua believes that the Philippine gaming sector is still far maturing and could grow and compete with its neighbours. “ W h e n it c om e s t o

entertainment, there is no country like the Philippines in Asia. Everyone should accept that,” he said. Chua said the country thus needs to capitalize on the uniquely Filipino brand of hospitality which it is known for. Meanwhile, Sian said the company is on track to c omple t i ng it s US $ 65 0 -m i l l ion e x p a n sion project by 2017. He said the P20.3-billion initial public offering (IPO) will fund Phase 2 and 3 of Resorts World Manila. Phase 2 involves t he ex pa nsion of Ma rriot Hotel Manila and the grand ballroom which are targeted for completion in 2014 and 2015. Phase 3, mea nwhi le, covers the expansion of Ma x i ms Hotel a nd t he construction of five-star Hilton Manila and Sheraton Hotel Manila. expansion/PAGE 21

MPIC sees P7B profit this year on strong Jan-Sept net income MANILA -- Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) forecasts strong profit this year after its three-quarter figure rose 12 percent on robust earnings growth of its utility businesses. The company said its core net income reached P5.6 billion from over P5 billion achieved in the same period last year. Its consolidated revenues also increased by 11 percent to P22.9 billion from P20.5 billion. “The outlook for our full year core net income growth looks positive. At this stage, we are continuing to guide in excess of P7 billion core net income for the full year,” said MPIC Chairman Manuel V. Pangilinan. Pangilinan attributed the strong three-quarter growth to the continuing improvements in company’s

ser vice levels as well as efficiency gains for all its operating companies. “A l l ou r bu si ne s s e s achieved strong growth in profitability for the first nine months of the year, leaving us well placed for a strong 2013 as a whole,” said Jose Ma. K. Lim, MPIC President and Chief Executive Officer. Subsidiar y May ni lad Water Services Inc. accounted for P2.9 billion or 43 percent of the aggregate contribution, followed by Manila Electric Company (Meralco) that shared P2 billion or 30 percent of the total. Metro Pacific Tollways Corp. (MPTC) delivered

Resorts World embarks on expansion amid rising gaming market

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CorporateWorld

Mindanao Daily 15 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Philex net income drops WEAK metal prices pulled down Philex Mining September, the Padcal mine Corp’s nine-month earnings despite higher produced 5.45 million tons, including 23.78 mi l lion production at its Padcal mine.

Okada Group teams up with Century Properties LISTED Century Properties Group, Inc. has partnered w it h t he Ok ad a Group for a mixed-use project in Bagong Nayong Pilipino E nter t a i n ment Cit y i n Parañaque City, the local company said in a disclosure e-mailed to media on Friday. “Century Properties... today announced that it has signed a memorandum of agreement with Eagle I Landholdings, Inc. (Eagle I), a Philippine affiliate of Universal Entertainment Ltd., to develop five hectares of land within the 44-hectare site c a l led Ma n i la Bay Resorts,” the disclosure read. C ent u r y sa id it w i l l develop a luxury residential and retail project that will have 300,000 square meters of gross floor area. Bot h companies a lso forged a n i nvest ment agreement “whereby Century w ill be issued w it h 432 million preferred shares, representing 36% of Eagle I’s pro-forma capital stock.” The value of the project and investment in Eagle I was not immediately available.

In a telephone interview, Maria Theresa F. Yu, Century Properties vice-president for communications, said the agreement is purely for property development. “We will not be involved in gaming,” Ms. Yu said in a telephone interview on Friday. According to Century Properties, both transactions “shall occur upon satisfaction of lega l a nd reg u lator y requirements, and neither transaction contemplates Century being involved in any aspect of the gaming operations.” Eagle I owns the 44-ha land while Tiger Resort Leisure and Entertainment, Inc. -- a not her u nit of Universal Entertainment of Japanese businessman Kazuo Okada -- is one of the four licensees at the Entertainment City. M r. Ok ad a i s b ei ng investigated by the US Federal Bureau of Investigation for bribery allegations in dealing w it h Philippine gaming authorities. okada/PAGE 21

PHILIPPINE Long Distance Telephone Co. (PLDT) saw annual net income growth slow last quarter from the prev ious t hree mont hs, though higher revenues as well as a one-time gain from the sale of its business process outsourcing (BPO) unit in the second quarter helped sustain expansion in the nine months to September, ac cord i ng to mater ia l s at tached to compa ny disclosures Wednesday. Unaudited consolidated income statements in those materials showed that net income edged up 1.79% to P9.271 billion last quarter from P9.108 billion in the same three months last year, while core net income -which strips out one-time gains or losses particularly from foreign exchange and derivative transactions -similarly rose 2% to P9.391 billion from P9.249 billion. Revenues grew 4% to P41.584 billion from P40.127 bi l l ion, wh i le ex penses increased 3% to P30.115

billion from P29.261 billion. Last quarter also saw the telecommunication giant posting P810 million in “other” expenses -- weighed by lower interest income, a swing to foreign exchange loss, and bigger financing costs -- compared to P162 million in “other” income recorded in the same three months last year. PL D T re p or t e d l a s t August that its net income grew 13% to P10.5 billion in the second quarter from P9.3 billion the previous year, helping to fuel a 2% expansion to P19.7 billion in the first half from P19.3 billion the year before. Growth last quarter was driven par t ly by higher revenues, lower depreciation cost a nd income ta x, Napoleon L. Nazareno, PLDT president and chief executive officer, said during a briefing at the firm’s headquarters in Makati City. Third-quarter performance brought net pldt/PAGE 21

PLDT profit growth sustained as of Sept.

In a disclosure to the Philippine Stock Exchange, the country’s biggest listed mining firm earned P1.446 billion in the January to September period, down 29 percent from the P2.035 billion in the same period last year. Its core net income fell 35 percent year-on-year to P1.479 billion. The drop in earnings was despite the higher production from the Padcal copper-

gold mine. To recall, the government has allowed the resumption of operations at the mine in Benguet province to speed up its rehabilitation. Philex is repairing the Padca l a f ter last yea r’s tailings spill, which led to the mine’s closure and a penalty of at least P1 billion slapped on the company. T he m i ne h a s b e en operating for seven months since the lif ting on the suspension order. At end-

pounds of copper and 72,905 ounces of gold, or seven and two percent higher, respectively, than a year ago. Offsetting the increase in production was the 18 percent drop in gold prices to $1,340 per ounce, thus pu lling dow n operating revenue by 16 percent to $4.17 billion. The price of copper also fell by 19 percent to $3.26 per pound, trimming revenues by 15 percent to P3.239 billion. philex/PAGE 21

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AgriBusiness

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First GMO rice set for launch in PHL in 2016: researchers T H E f i r s t gene t ic a l lymodif ied rice to be commercially available could be approved for production in the Philippines in two to three years, researchers s a i d Tu e s d a y, d e s p i t e st rong opposit ion f rom environmental groups. Of f icers of bot h t he International Rice Research Institute (IRRI) and the Philippine government’s agriculture department said the newly-developed “golden rice” had completed field trials, despite vandalism at one test field. “Golden rice is coming. T hat is i n t he pipel i ne and a lot of the principal development and research has been completed,” said Achim Dobermann, deputy director-general of IRRI. “At the moment, there is no GM (genet ica l lymodif ied) rice off icially released in any country,” he stressed. He s a id C h i n a w a s working on a pest-resistant variety of GM rice, but it was unknown when they would release it commercially.

Dobermann said that depending on the length of the approval process, it could take a minimum of “two to three years” before seeds are ready to be distributed to farmers. Field trials of the rice, a gene t ic a l ly-mo d i f ie d orga n ism (GMO), have been completed i n t he Philippines and it is now set to undergo tests to determine if it is safe to consume and propagate, said Antonio Alfonso, coordinator of the

Agriculture Department’s biotechnology programme. This is despite an attack by activists on a test field in the Philippines in August that destroyed the golden rice planted there. Alfonso said it was only one of several golden rice fields, and they were able to complete their tests. Golden rice has been genetica l ly modif ied to produce vitamin A, which is lacking in the diets of many people in developing

cou nt r ies, lead i ng to weakened immune systems and blindness, and often resulting in death, IRRI said. H o w e v e r , m a n y environmental groups oppose GMOs, saying they will have harmful side effects which will irreversibly spread even to non-GMO crops. The Southeast Asia office of env ironmenta l group Greenpeace condemned the efforts to promote golden rice. GMO/PAGE 21

DAVAO C i t y - - T h e proliferation of coffee shops not only in Davao but also in almost all parts of the country is set to increase dome s t ic c on su mpt ion of coffee by 2.25 percent annually. “This should give our coffee farmers more reasons to grow coffee following suggested technolog y so they will be more productive and thus get more profit,” Department of Agriculture (DA XI) Remelyn Recoter said. Recoter said the consu mpt ion of cof fe e

continues to increase with coffee now next to oil as a legally traded commodity worldwide. Experts even predict that the level of coffee consumption will follow population growth, she added. Coffee specialty shops continue to increase and these shops cater to a wider and younger clientele. Being seen in coffee shops has a lmost become a status symbol nowadays which makes coffee a highly in demand commodity. Of all the coffee varieties we have today, she said, it

is Arabica which has the potential to get premium markets in the United States, Japan and Germany. However, Recoter said coffee production in the Davao Region has been in a continuous decline for the past five consecutive years. She attributed this to the slight reduction in the area harvested due to crop shift in Davao City. Compostela Valley is the top producer of coffee in the Davao Region with a 48 percent share. This is followed by Davao del Sur with 24 percent share and

Davao City with a 15 percent share. Philippines Coffee Board, Inc. President Pacita U. Juan said Filipinos consumer 100,000 metric tons (MT) of coffee every year in the form of instant, brewed or specialty coffee. However, she said, the country only produces 25,000 MT of coffee every year which is a shortfall of 75,000 just for domestic consumption. “There is a business in planting coffee; we need to plant eight million coffee trees to address the shortage,” coffee/PAGE 21

ASIA’S coconut palms, which mark the landscape from the Philippines to India, face a crisis as rapidly aging groves become less productive, curbing harvests that are a source of food and income for millions. The trees, many of which were planted about 50 to 60 years ago after World War II, no longer yield enough to meet rising global demand, according to the Romebased Food and Agriculture Organization. There’s an urgent need for replanting a nd rejuvenat ion, s a id Hiroyuki Konuma, regional representative for Asia and the Pacific at the United

Nations agency, which is seek ing to coordinate a response to the challenge. At stake is the productivity of a core part of the rural economy in the Asia-Pacific, which accounts for about 85 percent of the global supply of the commodity that goes into food, fuel, soaps and cosmetics. In the Philippines, among the three biggest growers, one in five people depends on the crop to some extent, according to the Asian and Pacific Coconut Community. The Jakarta-based group, which represents growers, predicts that harvests could be increased to benef it

millions of smallholders. “We have a lot of aging trees,” Yvonne Agustin, executive director of the United Coconut Association of the Philippines, said in an interview, adding some local palms are already 100 years old. “The government recognizes that and has embarked on a planting and replanting program,” Agustin said by phone. The slender trees that are a staple image for tourists’ postcards are productive for between 50 years and a century, with the highest y ields in the f irst three decades, according to the FAO. The harvest in the

Asia-Pacific is now about 40 nuts per tree a year, compared with a potential yield of 75 to 150, it estimates, saying replanting is advisable after 60 years. India, Asia’s third-largest economy, is the top producer, harvesting 17 billion nuts last year, followed by Indonesia, which gathered 15.4 billion, and the Philippines, with 15.2 billion, according to the Asian and Pacific Coconut Communit y. The globa l coconut area was about 12.3 million hectares (30.3 million acres), yielding 64.3 billion nuts, it said. While the expansion of coconut/PAGE 21

PHL coffee shops up domestic coffee consumption by 2.25%

Asia’s coconut plantations aging, cut output and farmers’ income

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Banking&Finance

Islamic finance touted to fund infra gap THE FAST-grow ing but u nd er-ut i l i z e d I s l a m ic finance can help provide funding to bridge Asia’s infrastructure gap, industry players said. “Islamic finance in Asia, if you look at the industry as a whole, is currently $1.6 trillion,” Baljeet Kaur Grewal, managing director and vicechairman of Malaysia’s KFH Research Ltd. said in the Islamic Finance for Asia conference yesterday. The region is currently struggling to address a huge investment gap to develop infrastructure, and both the government and the private sector can tap Islamic finance

for this, she explained. “There is an $8-trillion investment gap in infrastructure in Asia which the conventional market cannot solely address,” Ms. Grewal told reporters at the sidelines of the conference. Growing by 24% yearon-year, the Islamic finance industry in Asia is projected to be worth some $6.5 trillion by 2020, she noted. “The Islamic f inance industry is definitely too large to ignore,” she said. Ms. Grewal said Islamic ba n k s work si m i la r to conventional banks, save for provisions prohibited by touted/PAGE 22

BIR padlocks trading firm for underdeclaration of taxable sales MANILA -- The Bureau of Internal Revenue (BIR) padlocked on Wednesday a registered trading corporation and its four branches located in Quezon City and Caloocan City for violating the provisions of the National Internal Revenue Code of 1997, as amended (Tax Code) on Value Added Tax (VAT). A.R. Vitug Trading Inc., a registered taxpayer located in Novaliches, Quezon City, was shuttered for understatement of taxable sales or receipts by

30 percent or more of correct taxable sales or receipts for the subject taxable period pursuant to Sec. 115(a)(3) of the Tax Code as implemented by Revenue Memorandum Order No. 3-2009. Likewise closed were its four bra nch of f ices, namely: V&W Trading in Novaliches, Quezon City; A.R. Vitug Trading Inc. in Novaliches; Pangarap Trading in Caloocan City; and Vi-Wi l l Trading in Caloocan City. BIR/PAGE 22

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BPI rated investment grade by 2 int’l rating agencies THE Bank of the Philippine Islands (BPI) said yesterday it now enjoys the distinction of being the only Philippine ba n k rated i nvest mentgrade by two international rating agencies. On October 3, Moody’s Investors Service Moody’s r a i s e d B P I ’s b a s e l i n e credit assessment – or the evaluation of the issuer’s stand-a lone f inancia l strength, excluding extraordinary government support – from ba1 to baa3. More ove r, it up g r a d e d the deposit rating of BPI t o B a a 3/ P r i m e -3 f r o m B a1/ Not P r i me , w it h a posit ive out look in line with the positive outlook of Philippine government’s bond rating. “ O v e r a l l , M o o d y ’s v iews t he cred it prof i le of BPI… to be among the most defensive and best positioned to withstand a cyclical downturn among Moody’s rated banks in the Philippines,” the statement said. Earlier this year, Fitch Ratings raised BPI’s LTFC IDR, or long-term foreign c u r renc y is suer defau lt rat i ng, to i nvest ment g r a d e BBB - f rom BB +. BBB ratings indicate good

credit qua lit y, w it h low expectation of default risk. “The capacity for payment of financial commitments is considered adequate,” Fitch says of institutions w it h BBB rat i ngs i n its website. The LTFC IDR upgrade is in line with the banks LT L C ( long-t er m lo c a l currency) IDR rating of BBB -. T h e ou t l o o k on the IDR is stable. “BPI’s LTFC IDR had been until now constrained by t he sovereign’s LTFC IDR of

BB+, due to t he ba n k ’s exposure to the financial health of the government, wider domestic economy and local financial ma rket s ,” Fitch sa id i n its April 1, 2013 statement announcing the upgrade. “Of the major Philippine ba n k s rated by Fitch, BPI’s rat ings have been t he h i g he s t , due to it s established domestic presence, sound financial met rics a nd pr udent management,” Fitch added. In view of the

investment-grade rating received by the Philippines from the three major rating a gencie s — Moody ’s i n October, Standard & Poor’s in May, and Fitch in March — the country will be “topof-mind among investors and fund managers who are keen on having a stake in the emerging markets’ g row t h,” s ay s BPI le ad economist Emilio S. Neri Jr. “BPI being one of the country’s top-rated banks will surely benef it from this development.”

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Editor : Shaun Uy, E-mail: shaun_alejandrae_uy@yahoo.com

The

CAGAYANTIMES de Oro

ARTS & CULTURE

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XCCA holds culture-based education symposium

he Xavier Center for Culture and the Arts (XCCA) and the National Commission for Culture and the Arts (NCCA) held “YAMUG 6: Culture Based Education Symposium” on Oct 19 at the Little Theater. This year’s Yamug focused on Philippine Culture and the Arts as bases for effective and quality education. Prof Ricamela Palis (Letran) imparted on “Philippine Culture and the Arts as an Effective Tool for Teaching and Learning.” She pointed out that cultural education is more than teaching arts, it is an approach that integrates the arts across the curriculum, it acknowledges local cultural knowledge, it gives voice to the unarticulated ways of understanding the world and it teaches the historical past in order to understand the present. Dr. Jovy M Peregrino (UP Diliman) gave a fun and interactive talk on the need for Mother Tongue Based Multilingual Education as a mode of instruction, while Dr Christine Godinez-Ortega (MSU-IIT) shed light on how Philippine literature was developed through the years and let the audience widened their awareness on the existence of such heritage. Participants came from different public and private schools in the City, namely Xavier University Grade School, MOGCHS, , Cagayan de Oro College –School of Education, San Simon Elementary School, Km 5 Elementary School, Lapasan National High School, Oro Christian Grace School, Bulua National High School, PN Roa National High School, Kauswagan NationaL High School, Stella Maris College of Caraga). Yamug 6 is part of the Cultural Education Program of XCCA.

IMAHE UNO T he CAGAYAN DE ORO PHOTOGRAPHERS LEAGUE (CDOPL) joined the recent 6th Scott Kelby World Wide Photowalk last October 5, 2013 in areas of Cagayan de Oro to Balingasag, Misamis Oriental. The World Wide Photowalk is the largest photography social event in the world facilitated by Scott Kelby the editor and publisher of Photoshop User magazine, president and co-founder

Some scenes during Yamug 6 Photos Courtesy of the XCCA

by Jett Torres

of the National Association of Photoshop Professionals (NAPP) and is president of Kelby Media Group, an Oldsmar, Florida-based software training, education, and publishing firm. (www.n.wikipedia.org/wiki/ Scott_ Kelby) In Cagayan de Oro, the Cdo Photographers League actively participated the WWPW. The CDOPL is composed of various photography enthusiasts that aim to create

an environment of diverse culture of photographic competence, collaboration of initiatives with its members through the exercise of ethical photographic principles and discipline. The goal is to be the premier photography group in Cagayan de Oro that develops dynamic photographic works comparable to international standards, strengthen collaborative efforts, advance amateur needs and emphasis

on aesthetic approach to photography. The Cagayan de Oro Photographers League will showcase their photographic skills through Photo Exhibition on November 6 – 10, 2013 at Centrio Mall, Cagayan de Oro City. This Photo Exhibition entitled IMAHE UNO featuring the images from the World Wide Photowalk 2013. IMAHE is a visayan term of image that depicts a certain

work of art of an photographic artist in a visual presentation. This IMAHE Uno photo exhibition aims to convey a photographic work and discipline to a aspiring photographer that photography skill is a creative expression and infinite imagination of a photographer. It is not about the expensive cameras but it is about the technique of selfexpression – a evocative image.

thursday | november 7, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

The

CAGAYANTIMES de Oro

ARTS & CULTURE

SULAT DULA 3 gathers aspiring Mindanao playwrights

s part of their goal to establish a sustained playwright development program in Mindanao, the Xavier Center for Culture and the Arts (XCCA) and the National Commission for Culture and the Arts (NCCA) conducted SulatDula 3: A Playwriting Workshop in Mindanao on Oct 23- 25. Sulat-Dula is XCCA’s flagship project for its Cultural Education Program that aims to bring the best culture and art practices closer to students, faculty and LGUs in Northern Mindanao. This year’s Sulat Dula brought distinguished playwrights Steven Patrick Fernandez, writer, critique, researcher and Executive/ Artistic Director of Integrated Performing Arts Guild (IPAG) of MSU IIT; Rody Vera, Executive Director of Writer’s Bloc, Inc., playwright, television scriptwriter and screen writer; and Layeta Bucoy, screenplay writer, columnist and playwright of Doc Ressureccion:Gagamutin ang Bayan, among others. With the help of the resource persons, nine fellows were able to work on their plays during the

workshop. These were Anna Liz Cabrido from Apat sa Taglamig Productions Inc in Koronadal City, South Cotabato who wrote “Solteros”; Estrella Alfabeto of Central Mindanao University, Bukidnon who wrote “Scrapbook”; Kristen Senajon of XU’s The Xavier Stage who wrote “Sa Tabing Dagat”; Michelle Dollaga of XU’s The Xavier Stage who wrote “Closet”; Vel Marie Santillan of XU’s Dulaang Atenista who wrote “Sakay”; Jim C Raborar of Apat sa Taglamig Productions, Inc of Koronadal City, South Cotabato who wrote “Hapakainan”; Hermie Dico of IPAG MSU IIT who wrote “Kwits”; Dennis Flores from Cagayan de Oro City who wrote “The Sin of the Father”; and Gabriel Matthan Luceño from XU who wrote “Aerodynamics of Relationships.” Through critiquing and oneon-one consultations with the professional playwrights, the fellows were able to showcase their plays through script reading. It was an inspiring event for the future playwrights to actually create a piece which will one day be seen and heard on stage.

Mindanao Daily 19 NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Editor : Shaun Uy, E-mail: shaun_alejandrae_uy@yahoo.com

20 Mindanao Daily NEWS

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northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City OLIVER CABELTES Applicant/s

Case No; 2013-10-1820 2008-10-1504

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City LOIUSE DONNA DE LA PENA Case No; 2013-10-1814 Applicant/s

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City LEO SALUDES Applicant/s.

CASE NO; 2013-10-792

NOTICE OF HEARING

APPLICANT request authority for Extension of validity to operate FILCAB service on the line ;Magsaysay –Gingoog –Balingoan –via Bal-ason Dinawihan and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least TEN(10)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 6th day of November, 2013.

APPLICANT request authority for issuance of Certificate of Public Convenience to operate TH FRIEGHT TRUCK service on the line; within Cagayan de Oro City to any point in Region X, accessible to motor vehicle traffic and vice versa with the use of one (1) unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least TEN(10)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island.

APPLICANT request authority to amend its present authorized route and to operate FILCAB service on the line RBC;Macabalan –Pier –Agora –LKKS Center Velez and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 6th day of November, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City EDMUND MEJAIS Applicant/s

CASE NO; 2013-10-1812 2008-10- 1582

Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013. MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2012

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City RODOLFO S. OJALES- Vendor Case No; 2013-10- 1813 FE C. TULOP -Vendee 2008-10-1953

MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City WILMOR PATARLAS Applicant/s

Case No; 2010-10-1790

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City OROWEST TRANSPORT SERVICE COOP. CASE NO; 2013-10-1824 Applicant/s 2008-10-2059

NOTICE OF HEARING APPLICANT request authority for extension of validity to operate PUJ DUAL service on the line;Cogon Market to Bayabas and as for cargoes from said place to any point in Region X with the use of TWO (2)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least TEN(10)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 6th day of November, 2013.. MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City CARLITO EMBALSADO Applicant/s

CASE NO; 2013-10-1815 2008-10-0054

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City MANUEL D. OLAPE Applicant/s

CASE NO; 2013-10-1826

APPLICANT request authority For issuance of certificate of public convenience to operate Touriat Transport service on the line;Laguindingan Airport to any point in Region X With the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 6th day of November, 2013.

APPLICANT request authority to extend the validity of certificate of public convenience to operate PUJ service on the line ;City Proper to Brgy. San Miguel –St. Mary (all in Iligan City) and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City HILARIO ARNEL S. PILANGA Applicant/s

CASE NO; 2013-10-1808 2008-10-2133

NOTICE OF HEARING

APPLICANT request authority to extend the validity of certificate of public convenience to operate PUJ service on the line;City Proper to Isabel Village -Palao Riverside via Medical –Brgy. Hall (all in Iligan City )and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013.

APPLICANT request authority for approval ofsale and transfer with extension of certificate of public convenience to operate PUJ service on the line ;City Proper to Suarez (all in Iligan City) and vice versa with the use of one (1) unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013.

APPLICANT request authority to amend his/her authorized route of certificate of public convenience to operate PUJ service on the line ;Magsaysay, Lanao del Norte to Tubod, Lanao del Norte Kapatagan and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013.

APPLICANT request authority To extend the validity of certificate of public convenience to operate PUJ/MB service on the line;Oroqueita City to Don Victoriano via Bonifacio-Tangub City-Dumingag (all in Misamis Occidental)and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4TH day of November, 2013.

APPLICANT request authority to extend the validity of certificate of public convenience to operate PUJ service on the line;RBC;Macabalan to Pier –Agora-Limketkai Center –Velez St. (all in Cagayan de Oro City )and vice versa with e use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City CRUZ D. ROXAS Applicant/s

CASE NO; 2013-10-1819 2008-10-1986

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City RAY RAPHAEL M. DAYRIT Applicant/s

CASE NO; 2011-10-497

MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City WELLIE NAGAC VIEMEN, et al -Vendor CASENO;2013-10-1825 CORNELO G. YLANA, JR. -Vendee 2008-10-1754

NOTICE OF HEARING

APPLICANT request authority to extend the validity of certificate of public convenience to operate PUJ service on the line;Cagayan de Oro City to Lugait, Misamis Oriental and vice versa with the use of One(1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least TEN(10)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013.

APPLICANT request authority for issuance of certificate of public convenience to operate TH FRIEGHT TRUCK service on the line ;within the Province of Bukidnon and from said place to any point in Region X accessible to motor vehicle traffic and vice versa with the use of one (1)Additional unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 6th day of November, 2013.

APPLICANT request authority for approval of sale and transfer with extension of certificate of public convenience to operate FILCAB service on the line;Puerto, Cagayan de Oro City to Balingoan, Misamis Oriental and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 6th day of November, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer

MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

MDN: November 7, 2013

NOTICE OF HEARING

MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City CELSO A. ACLA Applicant/s

CASE NO; 2013-10-1821 2008-10-2054

NOTICE OF HEARING APPLICANT request authority to extend the validity of certificate of public convenience to operate PUJ Service on the line;Cogon Market to PN Roa Subd-Calaanan via Divisoria (all in Cagayan de Oro City)and vice versa with the use of ONE (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 6th day of November, 2013. MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

CASE NO; 2013-10-1811 2008-10-2039

NOTICE OF HEARING

MDN: November 7, 2013

TERESITA B. VILLAMOR Applicant/s

NOTICE OF HEARING

MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City LUIS V. ALSOLA Applicant/s

CASE NO; 2013-10-1807 2008-10-1991 2008-10-2129

NOTICE OF HEARING APPLICANT request authority to extend the validity and consolidation of cases of certificate of public convenience to operate PUJ DUAL service on the line;Cagayan de Oro City to Kibawe –Malaybalay City –Valencia City via Lilingayon-Mirayon and as for cargoes from said place to any point in Region X and vice versa with the use of TWO (2)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013. MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City HELYN FARM & TRUCKING SERVICES CASENO;2013-10-1816 Rep. By; JOSE ROMY C. PALMADA 2008-10-729 Applicant/s

NOTICE OF HEARING APPLICANT request authority To extend the validity of certificate of Public Convenience to operate TH FRIEGHT TRUCK service on the line;within Don Carlos, Bukidnon and from said place to any point in Region X accessible to motor vehicle traffic and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013. MARIANNE C. ULEP Records Officer/Acting Docket Officer

MDN: November 7, 2013

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City FELOMINA BARGAYO Applicant/s

CASE NO; 2013-10-1823 2008-10-1785

NOTICE OF HEARING APPLICANT request authority for Approval of extension of validity for certificate of public convenience to operate PUJ service on the line ;Cagayan de Oro City –Libona via Philips and vice versa with the use of One(1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least TEN(10)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 5th day of November, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

Mindanao Daily 21 NEWS

thursday | november 7, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

BIR...

from page 14

82.21 percent in 2012 and by 78.10 percent in 2013 (first two quarters). The closure order came after the refusal and neglect of A.R. Vitug Trading Inc. to comply with the requirements specified in the 48-hour Notice and the f ive-day VAT Compliance Notice. It was implemented through a Closure Order signed by BIR Deputy Commissioner for the Operations Group Nelson M. Aspe. Revenue District Officer Aldo B. Esmeña said that he recommended the closure of the establishments after A.R. Vitug Trading Inc. failed to rectify its violations and settle its tax liabilities per sur veillance operations. The recommendation was concurred by Revenue Region No. 7, Quezon City Regional Director Jonas DP. Amora. The closures were made under the Oplan Kandado flagship project of the BIR under the current leadership of Commissioner Kim S. Jacinto-Henares. (PNA)

Expansion... from page 14

“We (also) have a large casino area plus retail spaces. All of that will be finished by 2017,” he said. Travellers is the sixth company to go public this year after Philippine Business Bank, Asia United Bank, Del Monte Pacific Limited, AG Finance Inc and Harbor Star Shipping Services Inc. “Aside from the bullish outlook in the gaming and tou r ism i ndust r ies, t he impressive numbers we’ve seen from Resorts World Manila has also been made p os sible by t he ex per t management of the business by the companies behind Travellers International, A l l ia nce Globa l Group and Genting Hong Kong Limited,” said PSE Chairman Jose T. Pardo. (PNA)

Philex... from page 15

Lastly, revenues from silver declined 23 percent to P0.063 billion. B e s id e s t he Pa d c a l , Philex is also ramping up development of the Silangan mine in Surigao del Norte t h rou g h u n it Si l a nga n Mindanao Mining Co Inc. “Exploration and development work continues,” Philex president Eulalio Austin Jr. said. Philex aims to begin commercial operations at the Silangan, which is estimated to have $35 billion worth of gold and copper deposits, by 2017.--InterAksyon

Okada... from page 15

The deal comes after Gokongwei-led Robinsons Land Corp. and the Okada Group last May announced that they will no longer pursue real estate projects in the Manila Bay Resorts area. They did not disclose the reason. Robinsons Land had planned to develop a

high-rise residential project and a retail center in the same 44-ha area. Century Properties’ net income grew by 6.57% to P1.06 billion in the first half from P944.5 million in the same six months last year. Revenues climbed 7.09% to P5.29 billion from P4.94 bi l l ion w h i le c os t a nd expenses rose 4.11% to P3.80 billion from P3.65 billion. Its shares gained nine centavos or 5.20% to P1.82 apiece on Thursday from P1.73 each on Wednesday. Financial markets were closed on Friday in observance of the All Saints’ Day.

PLDT... from page 15

income in the nine months to September to P28.995 billion, 2.24% more than the previous year’s P28.359 billion. That, in turn, was driven by a 3% rise in revenues to P124.585 billion from P1 21. 3 6 3 b i l l i o n t h a t outpaced a mere 1% growth in expenses to P89.220 billion from P88.134 billion. It will be recalled that the telco completed in April the sale of BPO unit SPI Global Holdings, Inc. The same comparative nine-month periods saw core net income rising 4% to P28.786 billion from P27.690 billion. “We are conf ident of meeting our core income guidance of P38.3 billion for the year,” Mr. Nazareno said yesterday. “We are also confident of staying within the P29billion targeted capex (capital expenditure) for this year.” He added t hat PLDT Group would “like to stick to the original guidance” for core net income, citing the expected fourth-quarter “ k ickup because of t he Christmas season.” I n a st atement , M r. Na z a reno a l s o c it e d a “s t r u c t u r a l c h a n g e i n P L D T ’s r e v e n u e m i x ” involving “growing revenue streams” from new data and broadband businesses that “have outpaced our declining legacy businesses.” “The growth rates of the former are now more than double the latter’s rate of decline,” he noted. “With much of our core businesses in a stable state, we anticipate the upward trend of our revenues to continue.”

GMO... from page 16

“There are already existing solutions and programs being implemented by the Philippine government to address vitamin A deficiency in the country and these have been in place and are continuing to be effective,” Greenpeace campaigner Daniel Ocampo said in a statement. Dobermann said many of the alternatives are too expensive or impractical for poor people, who often eat mostly rice. Greenpeace previously obtained a court ruling to suspend field trials of GMO eggplant in the Philippines.

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Coffee... from page 16

she said. Juan said there are many opportunities in the coffee industry and that’s not only in the coffee shop business but also in nurseries that produce coffee seedlings as well as organic fertilizer. Engineer Eddie Isada, a certified Coffee for Peace Trainer, said one hectare of land planted to Arabica coffee can produce 1,200 kilos of total washed green beans that can be sold at P120 per kilo or a total of P144,000. With a total production expense of P67,200, a coffee farmer can earn as much as P76, 800. However, Isada said this is only true given the right env i ron ment for cof fee growing. While coffee can grow in different types of soil, he said the ideal soil is the fertile volcanic red earth or sandy loam. He also said it is important to choose shade trees that have natural sweet f lavor since coffee is an absorber of flavor. Thus, the taste of coffee will be inf luenced by the shade trees grown alongside the coffee trees. (PNA)

Coconut... from page 16

services and manufacturing spu rs econom ic g row t h in Asia, farming remains impor ta nt. In Ind ia, agriculture accounted for 17 percent of gross domestic product last year, according to the Washington-based World Bank. In Indonesia, agriculture was 15 percent of GDP in 2011, while in the Philippines it was 13 percent. The FAO estimates t he coconut i ndust r y accounts for as much as 5 percent of Philippine GDP. In the Philippines, an e s t i m a t e d 3 4 0 m i l l i on trees cover 26 percent of farmland, yielding 43 nuts per tree a year, data from t he Ph i l ippi ne C oconut Authority show. Shipments of coconut products in the first eight months of the yea r rose 10 percent to $1 billion, data from the statistics agency show. The industry is the country’s largest agricultural ex por ter, s a id Eucl ide s Forb e s , t he aut hor it y ’s administrator. Kerala is the top producer in India, followed by Tamil Nadu, Karnataka and And hra Pradesh, according to the Coconut Development Board, under the Ministry of Agriculture. While a trial program in Kerala to replace aged palms has boosted productivity, yields are still dropping in the three other states, s ome t i me s by a s muc h as t hi rd, Sugata Ghose, the board’s chief coconut development officer, said in an interview. “ We h a v e r e m o v e d d i s e a s e-r idden a nd old p a l m s for re pl a nt i n g ,” said Ghose, who’s based in Kochi, Kerala. “Last year, we had a big problem with the price, as farmers were not getting a good price.

“ERRATUM” Notice to the Public LTFRB Case No;2013-10-1732 as Published on October 5/6/2013 with the use of ONE (1)unit Instead of FIVE(5)units.

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OUR APOLOGY TO THE PUBLIC

This year farmers are happy because production is less plus demand has gone up.” Not a l l fa r mers face dif f icu lties. Aging trees aren’t an issue in Vietnam’s B e n Tr e , a c c ord i n g t o Tran Van Hung, deput y director of the agriculture department in the province that’s the biggest grower. Yields are stable at about 100 nuts per tree a year in most areas, up from about 60 a few years ago af ter prices rose a nd farmers used more fertilizer, Hung said. T h e FAO h o s t e d a consultation in Bangkok last week to address the y ield issue, draw ing representat ives f rom 15 states including the three top growers as well as Fiji DE ORO MAIN BRANCH andCAGAYAN the Solomon Islands. P & J Lim Bldg., Tiano Brothers Kalambagohan While yields areSts.,low and Tel. # (08822) 727-829 * most trees old, scientists Telefaxare # (088) 856-1947 are working to BRANCH raise output, CAMIGUIN Aranas St., Poblacion, Mambajao, saidB. Siriwat Camiguin Tel.Kajornprasart, # (088) 387-0491 Thailand’s deputy minister CORRALES BRANCH o f Corrales a g rAve., i c uCagayan l t uder Oro e Citya n d DIVISORIA BRANCH cooperatives. Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City “Coconut is857-3631 a traditional Tel. # (088) crop in LAPASAN India,BRANCH with more t h aLapasan n Tel. 2Hi-way, , #0(088) 0Cagayan 0231-6739 y de e aOror sCity o f history,”CARMEN K. Muralidharan, BRANCH Vamenta Blvd., Oro City director of Cagayan t he deCoconut Tel. # (088) 231-2011 Development Board, said on t he sidel i ne s of t he g at he r i n g i n B a n g k ok . Every part of the palm can be used, and the industry contributes more than 83 billion rupees ($1.3 billion) a year to India’s GDP, he said. Ne w t re e s c a n s t a r t producing in as few as two or three years, according to Romu lo A ra ncon, executive director of t he Asia n a nd Pacif ic Coconut Community. With replanting and improved farm practices, output can be raised by 50 percent to 100 percent within a few years, said Arancon, who estimated that a mature palm can produce as many as 400 nuts a year. More t ha n ha lf of I n d o n e s i a ’s 4 m i l l i o n hectares of palms are aging, or over 50 years old, said Irawadi Jamaran, chairman of the Indonesian Coconut Board, which groups producers, processors and sellers. The main problem for the industry is a lack of government attention, with greater concern for bigger plantations, especially oil pa lm, Irawadi said. The c o u nt r y i s t h e l a r g e s t producer of palm oil, which is grown on estates. “Coconut is of ten overlooked by many people b e c a u s e w e ’r e a l w a y s looking at rice and oil palm, a nd people don’t t h i n k coconut is an important one: this is not true,” the FAO’s Konuma said in an interview. “It contributes to economy, culture and livelihood.” (Bloomberg)

CDO MAIN BRANCH P & J Lim Bldg., Tiano Brothers Kalambagohan Sts., Tel. # (08822) 727-829 * Telefax # (088) 856-1947

DIVISORIA BRANCH Atty. Erasmo B. Damasing Bldg., #61 Don A. Velez St., Cagayan de Oro City Tel. # (088) 857-3631

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22 Mindanao Daily NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

Editor : Clifford Santillan, E-mail: santillan.clifford@yahoo.com

Touted... from page 17

Shariah law. “Islamic finance e nc ou r a ge s prof it s to o but w it hin a socia l ly responsible manner,” she said. However, a lot needs to be done to seamlessly incorporate Islamic finance into the larger f inancial market. Firdaus Djaela ni, a member of t he Boa rd of Commissioners of t h e Fi n a nc i a l S e r v ic e s Aut horit y in Indonesia, stressed the need to resolve dif fering ta x regimes a nd st reng t hen Isla m ic f ina ncia l inst itut ions. Lega l and reg u lator y

f r a m e w o r k s mu s t a l s o ensure the enforceability of rules, while special courts can be formed. “ There shou ld be a credible and reliable forum for the settlement of the lega l disputes a rising from Isla mic Fina nce transactions,” Mr. Djaelani said. Mea nwh i le, Usma n Ahmed, Citibank head of g loba l Isla m ic ba n k i ng in the Asia-Pacif ic, said t he reg ion must for m a road map to de t a i l t he development of t he industry in the long term. Mr. Ahmed emphasized, though, that “regulators should first be educated on t he work i ngs of t he Shariah.”

clifford’s

Daily HOROSCOPE AQUARIUS (January 20 – February 18) - Someone new makes their presence known today -- and they are sure to make a real and positive difference in your life! It’s a good time for you to expand your social circle even further. PISCES (February 19 – March 20) - You rub into a work-related problem that could be extremely minor or could lead you to completely change your career goals. In either case, you need to take the issue seriously and ensure that others do the same. ARIES (March 21 – April 19) - You may meet someone new today who changes the way you think about your life. Perhaps their cultural perspective is quite different from yours, or maybe they’re just extremely persuasive! TAURUS (April 20 – May 20) - You’re getting plenty of signals from deep within your subconscious mind -- so make sure that you’re aware that they’re present and distinct from what’s actually happening around you! GEMINI (May 21 – June 21) - You and a friend or colleague are perfectly matched today -- so work together if you can! It’s a really good time for you to make serious progress on something involving teamwork. CANCER (June 22 – July 22) - A colleague -- or maybe your boss -- raises a stink about something meaningful to you. They may even be on your side, but you still need to treat the situation with great delicacy.

BIR...

from page 17

The subject business establishment and its four branches were the subject of overt surveillance operations conducted by a team of Revenue Officers of Revenue District Office No. 28, Novaliches for the period covering Aug. 27, 2013 to Sept. 6, 2013. Records of the BIR showed that A.R. Vitug Trading Inc. is registered as a VAT taxpayer and has filed VAT returns and declared therein taxable sales or receipts, particularly taxable year 2012 and 2013 (first two quarters). Monitoring of its sales for the said taxable periods, however, disclosed t hat the trading corporation

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underdeclared its sales by 82.21 percent in 2012 and by 78.10 percent in 2013 (first two quarters). The closure order came after the refusal and neglect of A.R. Vitug Trading Inc. to comply with the requirements specified in the 48-hour Notice and the f ive-day VAT Compliance Notice. It was implemented through a Closure Order signed by BIR Deputy Commissioner for the Operations Group Nelson M. Aspe. Revenue District Officer Aldo B. Esmeña said that he recommended the closure of the establishments after A.R. Vitug Trading Inc. failed to rectify its violations and settle its tax liabilities per surveillance operations.

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The recommendation was concurred by Revenue Region No. 7, Quezon City Regional Director Jonas DP. Amora. The closures were made

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Though The Hunger Games is front and center for many of the kindergarten level jokes, (Is there a Hugh Janus here, asks the) other movies pilloried include Avatar, The Expendables, The Avengers, Angry Bird and more. T h e d i recto r s of T h e Starving Games continue with this making some of the worst movies - Date Movie, Meet The Spartans, Vampires Suck, Disaster Movie - in Hollywood history. One of the hottest catering waiters in Hollywood, Ross Wyngaarden, plays the gay Marco in The Starving Games. (Ross Wyngaarden photo below).

THE STARVING GAMES release date :

N ovember 8, 2013

SUDOKU How to play the game? Fill in completely every rows, columns and diagonals of each puzzle without repitition

of the same digit.

Yesterday’s Answer

LEO (July 23 – August 22) - You need a change of scenery -- so hop to it! This could mean a stroll through a new park or a complete change of life, but your energy is perfect for either scenario. Make the change work for you! VIRGO (August 23 – September 22) - You should force yourself to take a little risk today -- things are going your way, but you still need to explore new options. It’s a really good time for you to try something that could be lucrative. LIBRA (September 23 – October 22) - Your intellect is all fired up and ready to go -- so make sure that you’re making the most of it! You may come up with a clever solution to an annoying problem, or you might just surprise a friend. SCORPIO (October 23 – November 21) - You’re having a hard time with one person or project today -- but play it safe! You need to make sure that you’re dealing with life intensely, while still planning for a long and prosperous future. SAGITTARIUS (November 22 – December 21) - You are still buzzing with great energy, so make sure that you are pushing it to the limit. It’s a really good time for you to explore new places and meet new people, so get out there and frolic! CAPRICORN (December 22 – January 19) You just can’t abide by a recent decision or announcement, and you need to fight it with everything you’ve got. It’s a good time for you to rally your allies and make your case.

Amazing Facts! Did you KNOW?? .. The Earth’s rotation is gradually slowing: This deceleration is happening almost imperceptibly, at approximately 17 milliseconds per hundred years, although the rate at which it occurs is not perfectly uniform. This has the effect of lengthening our days, but it happens so slowly that it could be as much as 140 million years before the length of a day will have increased to 25 hours.

CROSSWORD puzzle across 1. Seat 5. Sweep 9. Bugle 10. Scenery item 11. Asaytono’s school 12. Type of snake 14. Chromium’s symbol 15. Golf item 17. Valuable rock 18. Owns 19. Sixth sense 20. Compass pt. 21. Dislike 22. Anger 24. Chiu of TV25 25. Not twice 27. Scale note 28. Primate 31. Wrongly: prefix 32. Unclear

33. Female pig 34. Pronoun 35. _acid 37. You and I 38. Stun 39. Computer operator 41. Coast 42. Mixes DOWN 1. Shaft 2. Abodes 3. Argon’s symbol 4. Printer liquid 5. Soft cheese 6. Decay 7. Skyward 8. Charger 10. Skin 13. Titanic lady 14. Jaguar 16. Long stories

18. Mideast group 21. Greeting 23. Concerning 24. Raikkonen the F1 champ 25. Forgets 26. Insect egg 27. Distance unit 29. Supremacy 30. Containers 32. Sleep 35. Remote 36. Sever 38. Carry out 40. Yes to Pedro Yesterday’s Answer

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NSCB: PH economy, fastest growing among Asean 5 THE Philippine economy is now the ‘fastest growing’ among the five largest economies in the Association of Southeast Asian Nations known as ASEAN 5 according to the National St at i st ic a l C o ord i nat ion B oa rd (NSCB). NSCB data showed that in 2012, Philippines had 6.8% growth while, in the first half of 2013, the country’s economy grew 7.6%. “ The ASEA N 5, composed of Indonesia, Malaysia, Philippines, Singapore and Thailand, is expected to be the key growth driver not only in Southeast Asia but also in the greater Asia Pacific region,” NSCB Secretary General Jose Ramon G. Albert in a statement said. Albert cited the report of the 2012 ASEAN Community Progress Monitoring System (ACPMS) pointing

Fibeco... from page 13

Negros Oriental I Electric Cooperative Inc.; Quezon I Electric Cooperative Inc.; First Bu k idnon Electric C o o p e r a t i ve I nc . ; a nd Misamis Occidental I Electric Cooperative Inc. A lso i n t he l ist a re: Masbate Electric Cooperative Inc.; Ka linga Apayao Electric Cooperative Inc.; L a nao del Su r E lec t r ic Cooperative Inc.; Basilan Electric Cooperative Inc.; Sulu Electric Cooperative Inc. ; Zamboanga del Sur II Elec t r ic Cooperat ive Inc.; Maguindanao Electric Cooperative Inc.; and TawiTawi Electric Cooperative. Based on t he repor t, Piamonte has said that the genera l polic y enforced on these ailing ECs would be to provide them “180 to 365 days to improve” – and they could either draw performance commitment contract or come up with a work program. For ECs to be labeled as ‘ailing’, the NEA official explained that they could be saddled with dilemmas such as: high system loss; low collection efficiency; posting operating loss and with huge liabilities and negative net worth. They could also be suffering from institutional problems on governance; consumer per employee ratio; and may also be failing in adhering to policies. But FIBECO Genera l Manager Engr. Renato S. Cortezano clarified that their cooperative has not been “ailing” and that NEA should make the necessary correction. In response to Cortezano’s concern, NEA’s Public Affairs Director Judith T. Alferez clarified that Piamonte has not actually categorized FIBECO a s a n “a i l i ng” cooperatives. She said that some of those ECs with net loss have not really fallen into the “ailing category.” NEA specifically cited

out the resilience of the Philippine economy by sustaining positive growth rates in the midst of a global economic meltdown in the year 2008 and 2009. “The country’s economy regained its momentum in 2010 but slowed down once again in 2011. However, from the second half of 2012 to the first half of 2013, the economy has been in full swing growing at more than seven percent and outperforming its peers,” Albert said. T h e c o u n t r y ’s e c o n o m i c performance with the other 9 member countries of ASEAN shows that the country’s growth of 6.8% in 2012 was the 3rd best in the region, next to Lao PDR (7.9%) and Cambodia (7%). Albert also noted that Philippines is ‘ breaking away from its shaky economic past and that the country is now one of t he most resilient

t he cases of Ca ma rines Sur I Electric Cooperative (CASURECO I); Province of Siquijor Electric Cooperative (PROSIELCO); Marinduque Electric Cooperative (MARELCO); Davao Oriental Electric Cooperative Inc. (DORECO); Agusan del Sur Electric Cooperative Inc. (ASELCO); Negros Oriental I E le c t r ic C o op er at ive (NORECO); Quezon I Electric Cooperative (QUEZELCO I); First Bukidnon Electric Cooperative Inc. (FIBECO); Misamis Occidental I Electric Cooperative Inc. (MOELCI I); and Kalinga Apayao Electric Cooperative (KAELCO); as still not in the roster of ailing ECs. “ T h o u g h t h e y h a ve registered financial net loss as of June 30, 2013, (they) are still not classified as ailing ECs,” NEA has qualified. The agency has explained that an EC will be considered ailing if “it has no means of meeting its outstanding obligations due to financial, technical and/or institutional inefficiency.” As it is, the agency has been closely monitoring the performance of all ECs so it can gauge which among them would be teetering into that “unhealthy operating condition.” NEA added that t he pa ra meters used in determining whether an EC is ailing or not are “high collection efficiency, low collection efficiency, current ratio, operating loss, huge liabilities and negative net worth.” These can a lso be compounded by institutional problems such as governance, consumer per employee ratio and adherence to policies. The agency reiterated that the ECs with ‘ailing’ label are around 11, including Pa mpa nga II Elect ric Cooperative; Camarines Sur Electric Cooperative; Albay Electric Cooperative; Masbate Electric Cooperative; Ticao Island Electric Cooperative Inc.; Northern Samar Electric Cooperative; Basilan Electric Cooperat ive; Taw i-Taw i

economies not only in Southeast Asia but also in the Asia Pacific region’ despite its record, since 2005, of lowest per capita GDP (in PPP terms) of USD 4,339 in the ASEAN 5. “Singapore continuously posted the highest per capita GDP in the group, followed by Malaysia, Thailand and Indonesia,” Albert said. He pointed out that ‘much remains to be done to sustain such high growth trajectory and to make it inclusive’. “The current administration has implemented a number of policies and programs that ensure that growth is sustained and shared by everyone. This is, however, not solely the government’s responsibility but is equally shared by the private sector that also needs to step up in its investments to ensure that growth is sustained and beneficial to everyone,” Albert added.

Electric Cooperative; Sulu Electric Cooperative; Lanao del Sur Electric Cooperative; and Maguindanao Electric Cooperative. For ECs which no longer have resorts on operational turnaround, the NEA has been aiding them on remedial measures to be undertaken. And the heavily-indebted ones are being punished with supply disconnections; because allowing swelled liabilities to power suppliers would have chain effect on the overall viability of the restructured power industry.

of local communities and the region as a whole. B ot h compa n ie s a re entitled to incentives such as income tax holiday and duty free importation of capital equipment offered by RBOI to investors in the region when they start commercial operations.

Enforce... from page 13

meeting in Davao City on September 29 in view of the social impact of these projects in terms of employment and capital inflow to the region’s economy. These new investments are expected to generate around 500 jobs in the region. E d B u l l e c e r, s e n ior vice president of Unifrutti Philippines, said that as investors they contribute to the improvement of the social and economic climate

“Though we are temporarily making them happy and feeding their hunger, we are also exposing them to danger and health problems” Daba adds. On the other hand, she proposes that donations or any help should be coursed through proper agencies and legitimate groups. The Anti-Mendicancy Law is mandated under Presidential Decree 1563 and section 492 of the City Codified Ordinance. Daba recalled that in 2007, City Council enacted Ordinance No. 10536 to address the problem. This was the Local Code on Children of Cagayan de Oro City also known as the Comprehensive Children’s Welfare Code of Cagayan de Oro City.

Republic of the Philippines Department of Transportation and Communications LAND TRANSPORTATION FRANCHISING AND REGULATORY BOARD Region X, Cagayan de Oro City

Companies... from page 13

MARIO P. CORNELIO Applicant/s

CASE NO; 2013-10-1817 2008-10-1968

EUSTIQUIO C. MISSION Applicant/s

CASE NO; 2013-10-1822 2009-10-140

NOTICE OF HEARING

APPLICANT request authority for approval of extension of validity for certificate of public convenience to perate PUJ (FILCAB) service along the route ;Malaybalay City –Kisolon – Manolo Fortich –Camp Philips –Alae Bukidnon and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 4th day of November, 2013.

APPLICANT request authority for approval of Extension of validity for certificate of public convenience to operate PUJ (filcab)service along the route ;Cogon Market Gusa/Cugman and vice versa with the use of one (1)unit/s. This application will be considered by this Board on November 14, 2013, 10;00 A.M. at its Office, Apovel, Bulua, Cagayan de Oro City, on which date applicant shall formally submit his/her evidence. At least FIVE(5)days prior to the date of hearing applicant shall publish its notice once in one(1) DAILY newspaper of general circulation in Mindanao Island. Parties opposed to the granting of the application must file their written opposition with documentary evidence submitted by the parties; unless the Board deems it necessary to receive additional documentary and/or oral evidence to be submitted by the parties. N.B. FAILURE TO APPEAR AT THE SCHEDULED DATE AND TIME OF HEARING SHALL MEAN DISMISSAL OF THE APPLICATION. WITNESS THE HONORABLE MANDANGAN P. DARIMBANG, CESO V, Regional Director, this 8th day of August, 2013.

MARIANNE C. ULEP Records Officer/Acting Docket Officer MDN: November 7, 2013

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24 Mindanao Daily NEWS northmin . westmin . caraga . davao Your Mindanao-wide Community Newspaper

EDITOR: Shaun Uy , e-mail: shaun_alejandrae_uy@yahoo.com

The

CAGAYANTIMES de Oro

FEATURE

thursday | november 7, 2013 Advertising and Editorial E-mail : businessweekmindanao@gmail.com Contact nos. : 0917-7121424 • 0947-8935776

Normin’s top schools to square off in 9th Steag Energy Quiz

ome fifty (50) private and public high schools in Northern Mindanao will compete in the 9th Steag Energy Quiz on 22 November 2013 at the Limketkai Activity Center, this city. Organized and presented by energy firm STEAG State Power Inc. (SPI), the annual activity is considered as one of the most awaited high school competitions in the region where knowledge and understanding of high school students about the science of energy will be put to a competitive test. Over the years, Steag has

organized the event to promote among high school students a special interest in energy, at the same time inspire them to achieve academic excellence in science and technology. Each participating high school will be represented by a team of three senior students selected by their respective school administrators. During the contest, a total of 21 questions about facts, laws and current events pertaining to electricity, energy and other subjects relating to natural and physical sciences, chemistry and physics will be asked. Each question has

corresponding points, and the team that accumulates the most number of points will be declared as winner. Aside from medals and trophies, twenty-four thousand pesos (PhP 24,000) worth of cash prizes will be given away to the best three schools. The Steag energy quiz champions since 2005 include Lumbia National High School, Xavier University High School, St. Mary’s School, Bayanga National High School, Regional Science High School, Rosevale High School, and the Mindanao State University - Iligan Institute of Technology.

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