businessdaily mindanao (may 22, 2013 issue)

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Market Indicators

US$1 = P41.17

FOREX PHISIX

AS of 5:56 Pm mAy 21, 2013 (Tuesday)

7,327.58 points

XX1cents

52.20points

BrieflySoil laboratoryKORONADAL City -- In an effort to hasten conduct of soil and water analyses and bring these services closer to the farmers, the Department of Agriculture (DA) 12 here has upgraded its regional soils laboratory. These laboratories are situated in Cotabato City at the Central Mindanao Integrated Agricultural Research Center (CEMIARC) in Amas, Kidapawan City in North Cotabato. A report from DA 12 said, the improvement was carried out with the purchase of several sets of equipment complete with different tools for soil and water analyses as well as equipment or mobile soils laboratory. These laboratories have also been capaci tated to conduct micro-analysis with the aid of Atomic Absorption and Total Assay on fertilizer analysis.

nutrition programsTHE National Nutrition Council (NNC) urged local government units (LGUs) to initiate more convergence ini t iat ives to ensure the proper sustenance of local nutrition programs. The council issued such call on Tuesday as it winded up its evaluation on the nutrition programs of South Cotabato province for this year’s national nutrition honor award. Health Assistant Secretary Bernardita Flores, head of NNC’s national evaluation team, said LGUs like the provincial government of South Cotabato should consider adopt ing programs that will help solve the root cause of malnutrition in their local communities to make their nutrition initiatives more effective. She adv ised them to veer away from the usual s u p p l e m e n t a r y f e e d i n g programs as main interventions to so lve the prob lem on malnutrition.

Volume III, No. 218 May 22, 2013WednesdayCagayan de Oro City P15.00

corporate World Banking & finance opinion agri-Business

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motoring PagE 2 PagE 3 PagE 5 PagE 8PagE 6

BusinessDailyC R E D I B L E R E L I A B L E I N - D E P T H

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

Magnanimous in victory, honor in

accepting defeat

Moreno calls Rustan’s his own ‘lucky charm’

RUSTAN’S SUPERMARKET. The newly-opened Rustan’s Fresh and Supermarket at the Ayala’s Centrio Mall. The store is Rustan’s first in Mindanao and the biggest in the entire country.

Despite cancellations made by other airliners, Cebu Pacific announced they will push through their scheduled maiden flight to Taipei, Taiwan in July.

Indo food firm eyeing palm oil plantation in Mindanao

Despite PH-Taiwan row:CebuPac goes on with scheduled

maiden flight to Taipei in June

By BONG D. FABE, Associate Editor

MAYOR-elect and outgoing Misamis Oriental Governor Oscar “Oca” S. Moreno called Rustan’s Supermarket

his incoming administration’s “lucky charm.” Moreno, who made his f i rst publ ic appearance and speaking engagement as mayor-elect during the opening program of Rustan’s Supermarket Cagayan de Oro at the Ayala Centrio Mall activity center Thursday night, said that the opening of t he super ma rket i s “providential.” Rustan’s Supermarket Cagayan de Oro is so far the biggest and best of all its 36th

supermarkets nationwide. It is also the first to make Rustan’s presence known in Mindanao. For Moreno, Rustan’s first establishment of its presence in Mindanao here in the City of Golden Friendship bodes very well for the city and for his administration much like the establishment of the first public high school in Mindanao here in the city

THE Indonesian food unit of First Paci f ic Co Ltd wi l l pursue the establishment of a palm oil plantation in Mindanao, the Hong Kong-based conglomerate’s managing director said on Tuesday. Ma nuel V. Pa ng i l i na n s a id representatives of Indofood Agri Resources Ltd had scoured Davao Oriental for possible sites for a palm oil plantation, identifying 30,000 hectares. “It’s large by Philippine standards, but not by global standards,” Pangilinan

THE operator of Cebu Pacific on Monday said it will push through with its new Cebu-Taipei f light in July despite the political tension between

the Philippines and Taiwan. In a statement, Cebu Air Inc. (CEB) vice president for marketing Candice Iyog

Toyota Philippinessales up 33%

Aboitiz builds 13 classrooms, water system for ComVal

BSP to host the 2013 BSP-UP Professorial Lectures

By BenCyrus G. Ellorin

Fastlanes Think-tank gives PHL ‘partial’ score

in natural resources managemeny

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ACCOMODATIONS


2 wEdnEsdAy - mAy 22, 2013

Crosswind

Crosswind model drives up Isuzu

sales at end-AprilSALES of Isuzu vehicles in the country rose six percent in the first four months, with the locally assembled Crosswind accounting for more than half of sales. At end-Apr i l , I su z u Philippines Corp sold 3,793 units, up from 3,582 last year. In April alone, 1,059 Isuzu vehicles were sold, up eight percent from 984 in March. Over half of sales in the first four months were of the Crosswind model with 2,146 units, 16.3-percent more than the 1,846 sold in the same period last year. I n Apr i l a lone , 62 8 Crosswind units were sold, over a fifth more than the previous month’s 512. Isuzu Philippines said the strong performance of the Crosswind so far has made it the second best-selling Asian

utility vehicle (AUV) in the country. “Once again, figures clearly show that the Isuzu Crosswind is well received in the market, and this is due to its numerous traits that perfectly respond to Filipinos’ family and business requirements. The periodic upgrades that this vehicle continuously receives ensure it remains the ideal AUV choice in the country,” Isuzu Philippines president Nobuo Izumina said in a statement on Tuesday. “Both the domestic vehicle sector’s and IPC’s gains in 2013 can be attributed to the strength of the Philippine economy, which is recently evidenced by—among other factors—record highs in the stock market and the numerous credit rating upgrades from international f inancial institutions,” he added.

Toyota Philippines sales up 33%LOCAL sales of Toyota during the first four months rose by a third on strong demand for the locally assembled Innova and Vios models. At end-Apri l, Toyota Motor Philippines Corp sold 23,395 units, up 33 percent year-on-year. In April alone, Toyota Philippines sold 6,334 units, of which 4,344 or over two-t h i rds a re com mercia l vehicles. The company said the Vios remains the top-selling model

in the country with 1,476 units sold last month, while the Innova continues to be the No. 1 multipurpose vehicle (MPV) with 1,245 units sold in the same period. The Innova and Vios models are assembled at Toyota Philippines’ Santa Rosa City, Laguna facility. Toyota Philippines has kept its position as the leading vehicle seller among member-

companies of the Chamber of Automotive Manufacturers of the Philippines Inc (Campi) and the Truck Manufacturers Association (TMA). “Toyota Motor Philippines experienced positive sales across the board, seeing continued strength with our locally manufactured Vios leading the charge. 2013 is forecasted to be another record breaking year as reflected in the performance of the industry in the first four months of the year,” company president Michinobu Sugata said in a statement on Monday. “We can expect this trend to continue as the Philippines shows growth in its economy and specifically the automotive industry,” he added. Toyota Philippines aims to sell a record 70,000 vehicles—a third of the 210,000-unit industry sales target—by yearend.

Motorcycle sports make PH Nat’l Games anewTHE POC-PSC Philippine Nationa l Games unfolds Friday in various venues in the metropolis with 40 sports to be disputed, including motorcycle sports featuring the road race the motocross events. The National Motorcycle Sports and Safety Association will again stage the on-road

and off-road events on May 26 at the Marikina City Hall Parking area with the off-road event (motocross races) set on June 1 at the Speedworld MX Circuit in SM Bicutan, Parañaque City. The motocross races will serve as the final tune-up for the members of the national

motocross tea m seei ng action in Round 2 of the 2013 Asian Motocross Supercross Championship (AMSC) on June 6-8 in Kuala Terengganu, Malaysia. The nine-day meet will forma l ly open w it h t he traditional parade of athletes at 5 p.m. on Friday at Rizal

Memorial track and field oval/football stadium. Motorcycle sports’ entry into the PNG started with a road race event organized by NAMSSA during the games’ maiden season in Negros Occidental in 2011. Motocross was added to the motorcycle sports events the following year.

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CorporateWorlDAdvertising and EditorialE-mail : [email protected] nos. : 0917-7121424 • 0947-8935776Editor : Nelson Constantino


3wEdnEsdAy - mAy 22, 2013

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Compostela Valley Gov. Arturo Uy hands a token of appreciation to Danel Aboitiz, AboitizPower Assistant Vice President for Special Projects, for the companies assistance to the province.

Danel Aboitiz, AboitizPower Assistant Vice President for Special Projects, Jan Risager, Therma Marine Vice President and Governor Uy signs the memorandum of agreement for the projects funded by the host community’s share of the revenues of Therma Marine’s as covered by the ER 1-94 funds.

Aboitiz builds 13 classrooms, water system for ComValTHE Aboitiz group, led by Aboitiz Foundation and peaking power plant operator Therma Marine., is set to build a total of 13 classrooms in various municipalities to assist the recovery of Compostela Valley in the aftermath of typhoon Pablo. Funded by d i f ferent Aboitiz groups companies, the construct ion of the projects were sealed during a signing of a memorandum of agreement last April 8 between ComVal Governor Arturo Uy, AboitizPower Assistant Vice President for Special Projects Danel Aboitiz, and Therma Marine Vice President Jan Risager. T h e r m a M a r i n e i s funding the construction of a 2-classroom building in Prosperidad Elementary School in Montevista town as well as pipes for the local waterworks system, through the host community share from the operations of the power plant as stipulated in Energy Regulations 1-94. Un d e r g o v e r n m e n t r e g u l a t i o n s , t h e h o s t com mu nit ies of power plants get 1 centavo share for every kilowatt produced by the power facilities. These funds are handled by the

Department of Energy and are used to fund development projects in the communities. Therma Marine operates a 100-MW peaking power plant in Maco, Compostela Valley province. “Aboitiz Power has been actively working with its host communities to properly deploy the Energy Regulation 1-94 funds maximise the utility of this benefit. Our assista nce ra nges f rom informing our host LGUs about the relevant procedures, the conceptualisation of the project, and the preparation of the requirements.” said Danel Aboitiz.

Governor Uy said the Aboitiz group was the first who ran to the province’s help after Compostela Valley was devastated by typhoon Pablo. “During the aftermath of Typhoon Pablo, AboitizPower set-up an relief operations camp nearby and they were able to give out more than 22,000 food and nonfood rel ief bags, est imated 8 mil l ion pesos. Together with this ER 1-94 project, A b o i t i z Po w e r i s a l s o launching the construction of the classroom buildings around Compostela Valley.

Cebu City to have its own ‘SM Mall of Asia’ by 2015

AFTER inaugurating its lifestyle mall in Bonifacio Globa l Cit y last week, SM Prime Holdings Inc. announced that it is set to open its next premier shopping center in Cebu by 2015, casually referring to the project as the Mall of Asia in the South. Jeffrey Lim, SM Prime executive vice president and chief financial officer, told

reporters its third shopping center in Cebu will be part of the Henry Sy-led firm’s mixed-use development called SM Seaside City at the reclaimed South Road Properties (SRP). “At the same time, we have a big property which is half the size of the Mall of Asia. It can be the Mall of Asia in the south,” Lim said.

“If you look at the total, it should be P20-25 billion for the total project: malls, convention center, hotel,” he said. The total of cost of the new shopping center may reach P5 billion, given its area of 400,000 square meters. Cebu is ready to host a premier development “because it is a progressive

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mIlf/PAGE 11

Murad: Victory of PNoy’s party,victory for the peace process

MILF to set up political party this yearBy Carolyn O. Arguillas

DARAPANAN, Sultan Kudarat – The victory of the President’s party in last week’s elections is victory for the peace process, Al Haj Murad Ebrahim, chair of the Moro Islamic Liberation Front (MILF) said.

victory of the Liberal Party, the President’s party, “will be an advantage because we are relying much on the sincerity and the capability of the government to implement the (peace) process.” Murad also said the MILF will start building a political party “within this year” in preparation for the 2016 elections when the first set of officials of the Bangsamoro is expected to be elected. “Within this year, we will start already (setting up the political party).” Murad said in mixed English and Pilipino. MILF chair Al Haj Murad Ebrahim at the MILF Peace Panel ’s of f ice in Camp Darapanan, Sultan Kudarat, Maguindanao on May 17. MindaNews photo by Toto Lozano MILF chair Al Haj Murad Ebrahim at the MILF Peace Panel ’s of f ice in Camp Darapanan, Sultan Kudarat, Maguindanao on May 17. MindaNews photo by Toto Lozano Murad said they will form a political party because “we want to maintain the status of the MILF as an Islamic organization and the political party will be the arm of the MILF for the political process.” Murad said they have yet to name the party but it will definitely contain the word “Bangsamoro.” T h e P h i l i p p i n e government (GPH) and MILF peace panels signed on October 15 last year the Framework Agreement on the Bangsamoro (FAB). After the elections, they are supposed to complete the annexes on Wealth-sharing, Power-sharing and Normalization, to complete the comprehensive peace pact for the establishment of the Bangsamoro, the new autonomous political entity that would replace the 23-year old Autonomous Region in Muslim Mindanao (ARMM). The FAB also provides for the creation of a Transition Commission that would draft the Bangsamoro Basic Law. When the Basic Law is done, it will be submitted to Congress with the President certifying it as urgent and once passed by Congress will be submitted to a plebiscite in the core areas comprising the f ive-prov ince, two-city Autonomous Region i n Mu s l i m M i nd a nao, the six towns in Lanao del Norte (Baloi, Munai, N u n u n g a n , P a n t a r , Tagoloan and Tangka l) and the barangays in the towns of Kabacan, Carmen, A l e o s a n , P i gc aw ay a n , Pikit and Midsayap that voted for inclusion in the 2001 plebiscite; the cities of Cotabato and Isabela

“We’re quite happy that in the results of the election in both local and national level, the administration candidates dominated. So I think there wil l be no reason for the government not to push through with the

processes in the negotiation when they have… majority (in) Congress,” Murad told MindaNews Friday afternoon at the reception hall of the Office of the MILF Peace Panel. He said they hope the

ProfIt/PAGE 10

Banking&FinanCeAdvertising and EditorialE-mail : [email protected] nos. : 0917-7121424 • 0947-8935776Editor : Christine Cabiasa



The Bangko Sentral ng Pilipinas

BSP to host the 2013 BSP-UPProfessorial Chair LecturesThe Bangko Sentral ng Pilipinas (BSP) will host the 2013 BSP-UP Professorial Chair Lectures on 24 May 2013 at the Executive Business Center, BSP Main Complex, Malate, Manila. These lectures have been held annually since 2008. Beginning 2012, they are being conducted twice a year.

institutions. For this occasion, BSP G over nor A ma ndo M . Tetangco, Jr. will welcome the guests and participants while UP System President Mr. Alfredo E. Pascual will deliver the opening remarks. Three lectures will be delivered. These will be: The Rationale for Asset Revaluation in the Philippine Electricity Sector By Dr. Helena Agnes S. Va lderrama, BSP UP Centennia l Professor of Accounting E x p l o r i n g t h e Relationship of Supply Chain Collaboration and Trust By Dr. Ma. Gloria V. Talavera, BSP UP Centennial P rofe s s or o f Bu s i ne s s Administration Using Threshold Models to Characterize Selected Economic and Financial Time Series Data

The Professorial Chair L e c t u r e s p r o v i d e t h e opportunity for chairholders to present their research, and for the participants to discuss important issues in economics, statist ics, business administration, f i n a n c e , a c c o u n t i n g , a g r ic u l t u re a nd ot her related fields as part of the collaboration between the BSP and the academe. The old Central Bank of the Philippines endowed t he CBP-U P Dia mond Jubilee professorial chairs in several colleges of the UP System in 1983. Its

successor institution, the Bangko Sentral ng Pilipinas, upgraded them to the BSP UP Centennial professorial chairs in 2008. Along with the BSP Sterling professorial chairs which were established in 2006 at the UP School of Statistics and the UP School of Economics, the professorial chairs serve to recognize and promote the integral role played by the University of the Philippines in the social and economic development of the country. Hence, they serve as an explicit manifestation of a partnership between two

LANDBANK Q1 net income hits P5.15 B, 65% upThe Land Bank of t he Phi l ippines is of f to an aggressive start as it enters its 50th year with a net income of P5.15 billion for the first quarter of 2013, 65 percent higher than the P3.13 billion registered in the same period last year. “LANDBANK’s strong performance in the f irst qua r ter of t he yea r i s driven by revenues from treasury activities which grew 149 percent to P9.80 billion from P3.94 billion. We also maintained our p r u d e n t m a n a g e m e n t of operat ing costs and continued to strengthen other areas of profitability,”

said LANDBANK president and CEO Gilda E. Pico. LANDBANK’s return on equity is at 15.04 percent, while BASEL II CAR at 19.65 percent remained higher than the regulatory standard of 10 percent. Pico fur ther reports that the Bank ’s capita l reached P91.26 bi l l ion, 30 percent higher than the previous year’s P70.10 billion level. Deposits grew significantly by 23 percent or P106 billion to P574.65 billion from P468.57 billion while total assets reached P737.45 billion, ref lecting a 22 percent increase from P604.38 billion of the same

period in 2012. A longside for t i f y ing i t s u n iver s a l ba n k i ng operations, LANDBANK remains the biggest lender to the agricultural sector. The Bank’s priority sectors include the small farmers and fisherfolk, micro, small and medium enterprises, and agri- and aqua- related projects of local government units and government-owned and controlled corporations. LANDBANK is present in 80 prov inces of t he country with a nationwide network of 335 branches and 1,103 ATMs. It a lso plays a significant role in major government programs

such as the Conditional Cash Transfer, the Food Supply Chain Program, and the OFW Reintegration Program. Last March, President Benigno S. Aquino III signed RA 10374 which extends LANDBANK’s corporate life by another 50 years. “The extension of the LANDBANK Charter and the Bank’s consistently solid performance attests to its continuing relevance and capacity to expand support to the country’s agricultural sector and the countryside, as the government’s partner in its development thrusts,” Pico said.

The Bureau of Customs (BoC) has yielded P25 million worth of smuggled goods and merchandise believed to be illegally imported from China during a raid on two storage areas in Tondo, Manila. Customs Commissioner Ruffy Biazon said that the raid which was conducted by Bureau of Customs Intelligence Group (BOC-IG) operatives under Deputy Commissioner Danilo Lim was undertaken by virtue of a Letter of Authority he earlier issued upon the recommendation of Lim pursuant to Section 2536 of

the Tariffs and Customs Code of the Philippines (TCCP). The fol lowing items were found inside the two storage areas and believed to have been i l lega l ly imported after the owners or representatives of the two storage facilities failed to present proof of payments for the duties and taxes of their importations. 272 boxes containing 100 reams per box of Marlboro cigarettes, one box with 50 reams Marlboro cigarettes, another 29 boxes with 50 reams of Marlboro cigarettes per box, 10 boxes of Winston cigarettes, 11 boxes of Fortune cigarettes

containing 50 reams per box, 432 boxes of Knorr Sinigang Mix and 23 boxes of Maggi Magic Sarap containing 150 boxes of the condiment per box. A parked delivery van outside the storage area also yielded the illegally imported commodities “These are basic kitchen commodities and used in almost every Filipino kitchen. Al lowing these i l legal ly i mpor ted commod it ies to reach the local market without its having certified a s s a fe by c onc er ne d g o v e r n m e n t a g e n c i e s l ike the Food and Dugs Administration could pose

health risks to the Filipinos.” Biazon said, adding that “We shall investigate the people behind this attempt and file the appropriate charges against them in court.” For h i s pa r t , L i m stressed that their probe on the people behind this smuggling attempt shall be comprehensive and in-depth, if only to stop and discourage future attempts to smuggle, especially o basic kitchen commodities such as these condiments. The kitchen condiments were placed in boxes labeled as Vermicelli to conceal its real brand.

Bureau of Customs swoops P25-M net worth of smuggled goods

B y D r. Jo s e l i t o C . Magadia, BSP UP Centennial Professor of Statistics Dr. Fernando Y. Roxas of the Asian Institute of Management, Ms. Lourdes S. Guzman of the Global Procure-IT, Inc., and Mr. Jade Eric T. Redoblado

of the BSP, wi l l discuss the papers of Dr. Helena Agnes S. Valderrama, Dr. Ma. Gloria V. Talavera and Dr. Joselito C. Magadia, respectively. Meanwhile, Dr. Jaime C. Laya, former Governor of the Central Bank of the

Philippines, will serve as the luncheon speaker of the event. T h e l e c t u r e s w i l l be at tended by inv ited pa r t ic ipa nt s f rom t he a c a d e m e , g ove r n m e nt agencies, private institutions and BSP officials. (PNA)

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LT Group postsP5.8B profit in Q1

Lucio Tan-led LT Group Inc. booked a 53-percent increase in profit in the first quarter of 2013 on the back of the strong performance of the conglomerate’s banking and property segments. In a disclosure, LT Group said its earnings rose from P3.79 billion to P5.8 billion during the same period last year. Its consolidated revenues also grew by 14 percent from P5.5 billion to P17.7 billion due to higher revenues from banking, distilled spirits and property development which offset the revenue drop in the beverage and tobacco sectors. Ph i l ippi ne Nat iona l Bank ’s f irst-quarter net income rose by 105 percent to P3.7 billion from P1.8 billion on higher revenues and lower operating expenses. PNB’s merger with Allied Bank became effective in February 2013 and this is the first time that the two banks are reporting as a single corporate entity. As of end-March, LTG completed the acquisition of an effective 45.5-percent stake in the merged bank. This was also be the first time that the LTG consolidated the banking segment.

P N B ’s n e t i n c o m e attributable to LTG amounted to P1.7 billion for the first quarter, representing the latter’s 45.5-percent indirect ownership interest in the merged bank. M e a n w h i l e , t h e implementation of the new excise tax law in January 2013 necessitated significant increases in the selling prices of a lcohol and tobacco products which adversely affected sales volumes from these sectors. Beverage maker Asia Brewer y Inc . posted a 4.9-percent lower net income from P217.78 mil l ion to P229 million due to reduced revenues as a result of higher excise taxes on products like beer and alcopops. Tanduay Distillers Inc., the group’s distilled spirits producer, saw its first-quarter net income dip to P6.9 million from P184.6 mil lion the previous year due to one-off items. Without these one-off items, recurring net income would have been roughly P190 million, almost the same as last year. Sales volume of Tanduay’s spirits remained relatively f lat during the quarter.

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Magnanimous in victory,honor in accepting defeat

The Social Cost of Reblocking

Cagayan de Oro Mayor-elect Oscar Moreno’s first words after he was proclaimed winner last May 14 was to

start the healing process. This is definitely a breath of fresh air. The first word of Moreno is so unlike the fallen mayor who is known for his vindictiveness and political retribution every after elections. He does not mind spending taxpayers money assigning senior City Hall employees in f loating status or in the basurahan just to send the message he wants total and blind loyalty from all. I can now imagine the feeling liberation of my City Hall friends Dionie Gersana and Edwin Dael who endured years of persecution for expressing their dislike to the ways of the fallen mayor. There are many other professionals in the City Hall who have suffered in silence who can now heave a sigh of relief. The mandate given by the Kagayanons to Moreno in the May 13 vote was strong. It was not a landslide victory but the 17,000 votes margin was not a close call as many, including me, had projected days before the vote. This lead is similar to the mandate given by the people of the 2nd district to Rep. Rufus Rodriguez in 2007 against outgoing

Last Sunday, I had a first-hand experience with the social costs of reblocking or rehabilitation (as DPHW engineers would say it) in the first District of Misamis Oriental. To travel that short stretch of highway from the outskirts of Gingoog City to Carmen town in Agusan del Norte took us all of one hour compared to the usual 30 minutes (max.) Reason? The stretch of highway in those areas is undergoing “reblocking” and/or “rehabilitation”. Travelers from Cagayan de Oro, Bukidnon and Lanao are advise to leave their light vehicles at home or risk having them dismantled piece by piece as they traverse this hellish piece of road. We cannot understand why the DPWH can allow the contractors to break up the perfectly good highway while their reblocking/rehabilitation are still kilometers. I asked around and was told the contractors have to meet stipulated deadlines or face penalties. Also, this breaking up of the pavement is a “buy-item” meaning once you finished it you can collect on your “progress billing” with DPWH. But at what social cost to travelers for whom this highway is intended to serve in the first place? Not only are schedules unnecessarily delayed and vehicles shaken to smithereens but the cumulative time wasted and tempers flared in the interim behooves that the DPWH actively seek solutions to the questions its

1st district Rep. Benjo Benaldo. Benaldo must have bore the full weight of that mandate, he decided to transfer residence to the 1st district where he won and became congressman in 2010. A lt hough Team Oca’s victory was not complete, with Ed Cabanlas losing to Ian Acenes in the vice mayoral race, and only five of his City Council slate making it to the 16-member local legislative body, I think all them came out winners. Having Roger Abaday, Zaldy Ocon and Bong Lao back in the City Council is a welcome development. Add to that Candy Darimbang and former Gusa barangay chief Enrico Salcedo, Team Oca definitely has that power punch to the City Council. Team Oca’s candidacy was an uphill campaign from day

current protocol for imple-menting projects of this type. There is an overbearing sense of impunity pressing down on travelers passing through this highway that the contractors are free to do as they please and de-stroy the people’s property as they please while the DPWH stands apathetically by. Perhaps a social audit by accredited People’s Organiza-tion assessing the social costs to project users should be conducted by DPWH before each project is conducted and again after it is completed. The social costs to the livelihood, daily expenses and environment of the people ostensibly to benefit from the project or those adversely affected by it should be mandatory. If this is routinely done whenever an Official De-velopment Assistance (ODA) loan or grant assisted project is implemented, why can’t it be done for locally implemented projects, especially LGU projects, for that matter? Tuwid na Daan ba kamo? Eh, dapat yata makinig muna kayo sa mga boss niyo!

By Jhan Tiafau Hursta Minute

tHinK

By Adonis AgcopraFinancial Doctor

tHe

Think a minute…When was the last time you do

yourself a favor? You got a new job, lost weight, or quit a bad habit. There is another big favor you can do for yourself that will make your life so much happier and healthier. Do yourself a favor and forg ive t hat person who wronged and hurt you. My aunt lived with a selfish, critical husband for over 50 years. She was a nice, friendly person on the outside; but inside she was full of anger and unforgiveness toward her husband. As a result, she became very sick with arthritis, asthma, and diabetes and eventually died from it. Doctors say these are just some of the illnesses that often come from years of bitterness and anger in a person. It actually releases a deadly poison in our body. My aunt was the one who suffered and paid the highest price for refusing to forgive her husband. When we refuse to forgive that person who has wronged and hurt us, we’re really hurting ourselves. That’s why Jesus that if we will forgive others, then we will free ourselves from the prison and pain of unforgiveness. You see, “When we refuse to forgive others, we block off the same bridge we need to cross to receive our own forgiveness from God.” Jesus Christ warned us: “If you refuse to forgive others, I cannot forgive you.” So we not only pay the price of physical sickness and suffering, but far worse, Jesus said we will keep ourselves out of heaven and suffer forever in the most painful place

Do yourself a favor

Money and theLaw of Correspondence

Each person has the right to determine his own path, but each one should do so responsibly knowing that by the law of cause and effect, the consequences of one’s choices will matter greatly and would be something that we have to inevitably live with. Our choices in life are the causes, the persons that we become is the long-term effect. Similarly, your inner attitude towards money will determine your outside financial world. By the law of attraction, money is attracted to good stewards. As a great guru once said, if you seek to learn how to take good care of money, practice how to use and spend it wisely, and share the basic tenets governing its acquisition and redistribution, then you will attract more money into your life. Let’s constantly make the choice of becoming tranquil, happy and financially responsible individuals from the inside and it will all come out in the glow of our faces, the texture of our voices, and the good health of our finances! Let’s all choose to wake up each day with a smile sowing seeds of peace and happiness, and the whole world will be smiling back at us. Let’s do it now!----- (Dr. Adonis Agcopra, MBA, CIS, RFC® is with the IARFC and is portfolio director of AFIC Meridian Consultants. URL: www.aficfinancialconsultants.com. Email: [email protected].)

Your outer world is a ref lection of your inner world.” – Anonymous

With the growing complexity and multiple stresses of our modern world, a lot of people can simply allow having their personal lives deteriorate into a state of disarray. If the members of a body are ailing, they easily account for an ailing being and this could make up an ailing society. By the law of correspondence, what you are on the outside is indeed a mirror image of what you are on the inside. It is extremely difficult to change other people. We cannot change others for our sphere of control is strictly limited entirely within our own selves. It’s ourselves that we can seek to change for the better. The best that we can do is to be a model of inf luence to help others change by and for themselves. In the words of Jim Rohn, “Character isn’t something you were born with and can’t change like your fingerprints; it’s something you weren’t born with and must take responsibility for forming.” Character determines our attitude. The great Mahatma Gandhi echoed: “Be the change you want to see in this world!” Our locus of control in life comes either from an external or an internal source. When we let outside circumstances determine our mood and disposition for the day, then we let external forces control the direction of our lives. But if we seek to gain control of our inner selves and our attitude, then we can choose to be tranquil and happy each and every moment that we consciously choose to be. In this world, we have individual freedom. It’s the way we responsibly use that freedom that determines what we become in our lifetimes.

By Mike Baños anD anvil

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may not have won majority in the City Council, but they are all winners. The members of team violet who survived the May 13 onslaught, I think is not cause of major worry. Years of docility to the fallen mayor who made them his rubber stamp have clouded the full political potentials. Even Acenas who has survived two strong and very competent opponents, Ocon in 2010 and Cabanlas, has still to prove himself as his own man. His political career has so far been lackluster because of the shadow of the fallen mayor. If he performs well as his own man, his potential as a strong leader will surely emerge. Only that his competence may be a little suspect. Moreno has surpassed many cha l lenges in his political life. Note that in late 2010, PaDayon stole the majority of the Misamis Oriental Provincial Board. PaDayon PB members even cut the budget of the Office of the Governor by more than half in 2011. Oca issued line

that exists. So do yourself a favor today and forgive that person who has wronged and hurt you. Maybe it’s a brother or sister. Your wife or husband. Your father or mother. Your boss or an old friend. Just ask Jesus to forgive you for all of your wrongs and hurts against Him. Then He can help you with His love and power to forgive those people who’ve wronged and hurt you. It’s the only way you can finally be free from the prison and poison of your own bitterness and anger. Just Think a Minute…

one. I think credit should be given to Team Oca members, more notably Ed Cabanlas and the city council slate for focusing team synergy to their standard bearer. They

vetoes on the 2011 budget and with Vice Gov. Norris Babiera, they steered Capitol smoothly. It would be interesting to look where are some of the most ferocious attack dogs of PaDayon in that 2010 Provincia l Board coup – namely Jesus Jardin and Deodeg ui l Ursa l? One miserably lost his congressional bid in the 2nd district of Mis. Or., and the other spending the rest of his life inside four walls. A n d k n ow i n g t h e political timber of the team violet survivors, I would not be surprised that in no time, Moreno consolidates his political hold in the city with a majority City Council. The challenge for the citizenry now is to form a u n i f ied s t rateg y of engagement with the new City Hall administration. The least we can ask from Mayor-elect Moreno is to province that space where ordinary citizens can contribute their 5 cents worth in local governance.

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Think-tank gives PHL ‘partial’ scorein natural resources managementT H E Ph i l ippi n e s h a s garnered a satisfactory ranking among commodity-rich countries in terms of managing resources, but government inroads ensuring that the state gets a fair share of revenues from extracting natural assets are still needed, a report track ing g loba l resource mismanagement and corruption said. According to the Resource Governance Index released by New York-based Revenue Watch late Thursday, the Ph i l ippi nes received a “partial” score of 54, ranking 23rd out of 58 countries. The Philippines “ranked in the top half of countries s u r v e y e d on a l l fou r components, suggest ing that the government has made meaningful progress toward improved resource governance,” read a country brief posted on the Revenue Watch website. According to the report, t he top f ive cou nt r ies who have “sat isfactory” management of natura l resources are Norway, United States, United Kingdom, Australia and Brazil. The last five with “failing” scores , mea nwhi le , a re Myanmar, Turkmenistan, Equatorial Guinea, Libya and Qatar. The index, which is to be released annually from this year, is designed to help commodity-rich countries avoid the so-called “resource curse,” when their promising economies grow only slowly because of poor institutional oversight.

It i s based on fou r metrics: institutional and legal setting (20 per cent), reporting practices (40 per cent), safeguard and quality controls (20 per cent) and enabling environment (20 per cent). S p e c i f i c a l l y , t h e Philippines scored 63 out of a possible 100 in terms

of institutional and legal setting—the highest on any component. It is “the product of comprehensive mi ni ng legislation but incomplete disclosure requirements,” said Revenue Watch. Given “poor contract transparency and uneven disclosure of mining data,”

the country got a “partial” score of 54 for reporting practices. “Insufficient checks on the licensing and revenue collection processes” led to a “partial” score of 51 in the safeguard and quality c ont r o l me t r ic , w h i l e “mediocre global rankings

‘Green’ energy solves dualcrises of poverty and climate

By Stephen Leahy

UXBRIDGE, Canada—Green energy is the only way to bring billions of people out of energy poverty and prevent a climate disaster, a new study reveals. Conservative institutions like the World Bank, the International Energy Agency and accounting giant PricewaterhouseCoopers all warn humanity is on a path to climate catastrophe unless fossil-fuel energy is replaced by green energy. The UN’s Sustainable Energy for All initiative (SE4All) intends to bring universal access to modern energy, doubling the share of renewable energy globally, and doubling the rate of improvement in energy efficiency by 2030. If those targets are met and similar efforts undertaken to reduce deforestation, then climate disaster can be avoided, said Joeri Rogelj of the Institute for Atmospheric and Climate Science in Zurich who headed the analysis published on Sunday in the journal Nature Climate Change. “Poverty eradication, sustainable development and the transition away from fossil-fuel energy go hand in hand,” Rogelj told Inter Press Service (IPS). The SE4All initiative is ambitious, but brings a wide range of benefits—including improvements in health, less air pollution and makes the all-important break from increasing fossil-fuel energy use. The analysis shows the costs of SE4All is far less than the public subsidies the fossil-fuel industry currently receives, he said. Nearly 3 billion people still use fire for cooking and heating. Of those, some 1.5 billion people have no access to electricity. For a billion more, their only access is to sporadic and unreliable electricity networks. Indoor air pollution from burning dung, charcoal and wood for heating and cooking leads to nearly 2 million premature deaths of women and children every year, more than all the deaths from malaria and tuberculosis. Dirty fossil-fuel energy is also a major health hazard in industrial countries, responsible for 50,000 to 100,000 premature deaths and $400 billion in health costs a year in the US alone, said Mark Jacobson, an energy expert at Stanford University in California. “In the European Union, it is 350,000 premature deaths a year,” Jacobson told IPS. SE4All was first announced in 2009. “Energy interacts with all of the development challenges we face,” Kandeh Yumkella, director general of the United Nations Industrial Development Organization told IPS at the launch. Energy experts calculate that decentralized, off-grid technologies like wind, solar, geothermal and micro-hydro energy generation are the fastest and most cost-effective solutions. Extending current electrical grids only makes economic sense to meet 15 percent to 20 percent of the need due to the high costs. SE4All is well under way now, with more than 50 developing countries working on national plans to achieve the three goals of universal access, increasing renewable energy and doubling the rate of improvement in energy efficiency. Since 80 percent of human carbon-dioxide emissions come from the global energy system, Rogelj and colleagues at the International Institute for Applied Systems Analysis (IIASA) in Laxenberg, Austria, wanted to quantify the impact on the global climate. “Achieving the three SE4ALL objectives could put the world on a path toward global climate protection,” they conclude in their paper “The UN’s ‘Sustainable Energy for All’ initiative is compatible with a warming limit of 2 degrees Celsius.” “Doing energy right will promote the Millennium Development Goals, such as poverty eradication and

FPE, PEFI join hands in Arakan‘rainforestation farming’ projectTHE Arakan Valley has been chosen by the Foundation for the Philippine Environment (FPE) and the Philippine Eag le Foundat ion, Inc . (PEFI) for a ‘rainforestation farming’ project to form a “forest corridor” of some 28 kilometers long. “Rainforestation farming is a sustainable farming system used as a strategy for forest restoration using native or indigenous tree species in combination with agricultural crops,” said Dr.

Paciencia Milan, former trustee of the FPE. The Arakan Valley has t hree remaining forest fragments, with one almost entirely residual and two largely old growth, totaling about 2,453 hectares and covering about 4% of the total municipal land area. Once realized, this “forest corridor” wil l a l low the movement of bird and animal species between these three forest fragments, especially the Philippine Eagle, thus

widening t heir feeding grounds and improving their genetic diversity by permitting mate selection from a broader gene pool. Similar effects were also predicted for the eagle’s prey and for their habitat. F\ “In restoring the habitat of one flagship specie and its prey through rainforestation, that is, using forest species nat ive to t he area , t he project would result in the protection and enhancement

Japan-USpartnershipbring safewater to

SulKut villageBAGUMBAYAN, Su ltan K u d a r a t— D e s p i t e t h e abundant water in Samira’s place in Barangay Chua, an upland village here in the Philippines’ southernmost island of Mindanao, water remains a problem to many. According to Haron Ibad, a community resident and

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Aboitiz...from page 3

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We are truly thankful to AboitizPower and Therma Marine for their undying support to our province. We will never forget this.” City Savings Bank, another Aboitiz business units is funding a three-classroom bui lding in Compostela Central Elementary School, while AboitizPower, the group’s holding company for its power assets are funding classrooms in Nabunturan Central Elementary School, Monkayo Central Elementary School and Pasian Elementary School also in Monkayo.

and developed city,” Lim said. SM Prime operates two malls in Cebu located in Barangay Lamac in Consolacion and the Cebu Port Center in Barrio Mabolo. In May 2011, SM Prime said the Cebu SRP shopping mall will be a four-level complex and will feature a five-theater Cineplex, an IMAX theatre, an 18-lane bowling center, an ice skating, and a roof garden, among others. It will be the fourth biggest among the company’s Philippine malls after SM Megamall, SM City North Edsa, and the Mall of Asia. L a s t week , SM Au ra Premier, the company’s 47th mall in the Philippines, began commercial operations with Hollywood fashion icon Sarah Jessica Parker gracing its opening. SM Aura has a gross f loor area of 234,892 square meters, incorporating office towers, a chapel, a convention center, and mini-coliseum supported by a retail podium. How e v e r, t h e B a s e s Conversion and Development Authority (BCDA), which owned the property where SM Aura Premier was constructed, said the Taguig mall was “ i l lega l ly” bui lt because excavation for the property was done “without permission,” adding that “a poorly built retaining wall is jeopardizing the lives of nearby residents.”

Profit...from page 5 The tobacco segment’s net income, on the other hand, increased 3.3 percent to P1.6 billion from P1.5 billion for the first quarter mainly on account of slightly higher net earnings of operating associate, PMFTC Inc. The Group’s property development subsidiary, Eton Properties Philippines Inc., posted significantly higher first-quarter net income of P127.5 million from P19 million last year. This , a f ter revenues doubled to P1.16 billion this year from P560.2 million at t r ibut able to h ig her percentage of completion of Eton’s residential and condominium units as well as higher leasing revenues from commercial projects.(PNA)

PHL...from page 8

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a former combatant of the Moro National Liberation Front (MNLF), women spend most of the day washing clothes and dishes in the river far from their houses. In fact, every summer, many families are forced to relocate near the river, where they would also bathe and do their other toilet needs, thus polluting the water with human waste and causing a high incidence of diarrhea and other digestive problems. Happily, though, the water woes of a hundred households in six water-scarce areas in Chua are now a thing of the past. They can now fetch water from 18 faucets located in accessible sites in the village — water that they can safely drink and use for their daily needs. This spring-fed, gravity-type potable water system was funded by the Japanese g o v e r n m e n t , t h r o u g h its Grant Assistance for grassroots Human Security Projects under its Official Development Assistance. The grant was secured with help from the Alliance for Minda nao Of f-gr id

of biodiversity,” FPE said. FPE started a study on the concept of forest corridor in 1992. This study became the platform for PEFI to conceptualize a project to connect degraded forest ecosystems in the mountain ranges of Pantaron and Lumot in Bukidnon and Mount Apo in Davao with funding from the UNDP-Global Environment Facility. But because of the very large scope of the project which was beyond t he funding limit of UNDP-Global Environment Faciltiy, the FPE piloted a smaller and more manageable scale of “forest corridoring” in 2000, covering forest patches in Mounts Apo and Mahuson. In 2006, this project was expanded northward to include the old growth forest in Mount Sinaka, as well as the Kabalantian-Binoongan-Kulaman area, both of which form the ancestral domain of the Manobo tribe. At present, the project also rehabilitates 87 hectares of idle grassland. A study conducted by the Euronatur said that “rainforestation farming technolog y was chosen and developed under the assumption that a farming system in the humid tropics becomes increasingly more sustainable the nearer it is in its species composition and physical structure to the local rainforest ecosystem.” FPE then encouraged PEFI to employ rainforestation farming as its strategy to restore the degraded forests in the corridor. While using native species for forest restoration, the project then also incorporates the plant ing of various fruit trees and non-timber forest products as means of diversifying sources of income and food for people living in the area. Up to 10% of the trees planted are fruit-bearing species. Subsequently, an increase in the productivity a nd i ncome of projec t stakeholders is realized. With six rivers originating in Arakan, a l l of which discharge into the Pulangi river in the north, and 11% of the land considered f lood prone and subject to erosion, the project also encourages protection of soil fertility and reduction of erosion, as well as mitigates against the threat of f looding. I n t h e c o u r s e o f i mplementat ion of t he project, efforts to utilize the Clean Development Mechanism (CDM) under the Kyoto Protocol were initiated in late 2007, to give the local

social empowerment and, at the same time, kick-start the transition to a lower-carbon economy,” says IIASA researcher David McCollum, who also worked on the study. “But the UN’s objectives must be complemented by a global agreement on controlling greenhouse-gas emissions.” Even if the targets are achieved, explosive economic growth coupled with greater energy use will overwhelm t he c l i mate-protec t ion benefits of SE4All. “There is an explicit need for a global cap on emissions,” said Rogelj. Global carbon emissions were about 52 g igatons (billion metric tons) in 2012 and that means fossil fuel-energy use must decline so emissions are about 41 Gt to 47 Gt by 2020 to have a reasonable chance of keeping global warming below 2°C. The shift to green energy is under way. Every new megawatt added to the US electricity supply in January came from renewables, and more than half of all new electricity generation in 2012 was also from renewables, not gas as often believed. Iceland has 81-percent renewable energy. Scotland has a mandate to achieve 100-percent renewable power supply by 2020. Denmark passed laws requiring that the whole energy supply—electricity, heating/cooling and transportation—be met by renewable resources. Stanford ’s Jackobson, among others, have proposed detailed plans on how to meet 100 percent of the world’s energy needs with green energy. Jacobson believes it could be done as soon as 2030. Costs for the SE4Al l plan are relatively modest at between $30 billion and $40 billion a year, a fraction of the $523 billion in subsides for dirty energy in 2011, according to the International Energy Agency. By 2030, $300 billion a year will be needed to bring electricity into every home on the planet and prevent catastrophic climate change. Fossi l f uel-em ission reduct ions wi l l have to continue af ter 2030 and eventually decline to near

on corruption control and the rule of law” resulted in a “failing” score of 46 for enabling environment, said Revenue Watch. Congessional oversight Revenue watch said a st ronger Congressiona l o v e r s i g h t i s n e e d e d . “Lawmakers have conducted investigations of contract negot iat ions , but t hei r re q u e s t s for i ndu s t r y i n for m a t i on o f t e n go unanswered,” the think-tank noted. With “low royalty rates and an ineffective f iscal system, the government receives only a small share of this resource wealth,” Revenue Watch said. In July 2012, the Aquino administrat ion stopped issuing mining licenses while it revisited the nearly two-decade old law governing the industry. L a s t we ek , Fi na nc e Secretary Cesar Purisima said the Executive Department has finished its version of the mining revenue regime to be presented before the Chamber of Mines, a key private sector stakeholder in the minerals industry. P r e s i d e n t B e n i g n o S. Aquino III had asked economic managers to come up with a bil l amending the Philippine Mining Act of 1995 amid heightening issues on revenue sharing between the national and

local governments. Revenue Watch noted more than 80 per cent of the world’s major oil and gas-producing and mining cou nt r ies fa i l to meet “sat isfactory standards” for managing their natural resources. (EcoBusiness)

Renewable Energy (AMORE), a r u r a l e lec t r i f ic at ion program of the United States Agency for International Development that is being implemented by Winrock International with support f r o m t h e P h i l i p p i n e Depar tment of Energ y, Mirant Philippines, and the Autonomous Region in Muslim Mindanao. AMORE is developing a microhydro power facility in Chua that is expected to produce 9 kilowatts of electricity for 78 consumers in 50 households, three schools, one community center, one health clinic, three commercial establishments, 20 streetlights, and a battery charging station. Having seen how badly the people needed access to sa fe water, however, AMORE went out of its way to look for additional funds for a potable water system for the community. Through AMORE’s efforts and Japanese funding, Chua has become the first village in Asia to benefit from the US-Japan Clean Water for People Initiative. Set to manage the system is the vil lage’s Barangay Renewable Energ y a nd Community Development Association (BRECDA), the association of AMORE’s electrification beneficiaries that it organized and trained to operate and maintain the power system that it is installing in the community. To maintain the potable

water system, its users will be asked to pay the BRECDA a monthly fee of PhP10 per household. T he people a re not complaining. “Even if the monthly fee is raised to P20 or P30, we won’t mind because this potable water system is a big help to us,” Ibad said.

communities an opportunity for financial returns to their project. However, due to the l a b or iou s pro c e s s t he mechanism enta i ls , the partner decided to shift to the voluntary market mechanism. CDM or voluntary market notwithstanding, the partners – the local indigenous peoples and farmer communities, their supporters among the LGU, the youth and academe, PEFI, and FPE – continue to work towards a forest corridor enlivened by native species of f lora and fauna, with the human communities provided food and livelihood, through their rainforestation efforts.

zero in order to stay below 2°C, said Rogelj. (IPS)

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in Basi lan and al l other contiguous areas where there is a resolution of the local government unit or there is a petition of at least ten per cent of the qualified voters in their area. The future “Bangsamoro” will, as agreed upon by the GPH-MILF, have a ministerial form of government. Murad acknowledged that in last week’s election, “nag dominate pa rin ang 3Gs (guns, goons, gold). But he said he is confident that in the proposed Bangsamoro Basic Law, “we can at least gradually change the system because unless you change the system, we do not see a future for the electoral process because we observed that the 3Gs still dominate.” The MILF is going to face two electoral processes between now and 2016: the plebiscite for the ratification of the Bangsamoro Basic Law and the election of the first set of officials of the “Bangsamoro” political entity in the May 2016 elections. This year’s polls served as a preview to the plebiscite and the May 2016 pol ls with many MILF members voting for the f irst time. The MILF was perceived as supporting the candidacy of Tucao Mastura for governor of Maguindanao. Mastura lost to reelectionist Esmael Mangudadatu. His defeat raised doubts about an “MILF vote.” Murad explained that “not all the MILF supported Tucao Mastura. There are those who voted also for the other side. We did not endorse any candidate so members were free to choose who they would vote for, who can help in the peace process. Not all voted because there are those who are not registered voters.” While not citing figures, M u r a d a c k n o w l e d g e d “marami” (many) registered in the general re-registration in the ARMM last year. “In preparation for this year’s election?” MindaNews asked. “Actually it’s not for this election. The preparation is actually for the plebiscite. We encouraged them to register in preparation for the plebiscite,” Murad said. Murad is pleased that t he peace process was carried as an election issue by candidates from both the administration and the

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sa id , c it ing Indofood ’s plantation 240,000-hectare plantation in Indonesia. “They are still assessing the areas that may be available for a palm oil plantation,” he said, adding that the First Pacific board would decide on the matter next week. Indofood ’s plan goes beyond planting and into processing, the output of which would be sold both here and abroad.

said, “So far, plans for Cebu-Taipei will push through as scheduled.” The a irl ine plans to mount flights to Taipei from Cebu starting July 5. Cebu Pacific will impose $30 fuel surcharge for this f light. Earlier, Zest Airways said it will temporarily halt

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in 1909 during the American occupation which created so much opportunity in the capital city of Northern Mindanao. “ R u s t a n ’ s i s m y [administrat ion’s] lucky charm,” he simply said. With Rustan’s plan of opening more stores and affiliate stores in the city this year, investors are sure to pour in to the city during the Moreno administration. Rustan’s Supermarket P r e s i d e n t a n d C E O Bienvenido “Donnie” V. Tantoco III disclosed that his company will be opening Shopwise Hypermarket in the city this year. Shopwise is the brand that pioneered the hypermarket concept in the Philippines 14 years ago and is known for its affordable quality, everyday freshness, budget-friendly variety and fast, friendly and fun service. Shopwise is also the most comfortable, practical and efficient place to shop for a complete selection of fresh goods, groceries, clothes, toys and home accessories all under one roof. Value- conscious customers f lock to Shopwise to enjoy its attractive prices, wide aisles, clean surroundings, quality merchandise and the overall shopping experience. Also, Rustan’s will be opening Wellcome inside Grand Europa in Lumbia, Tantoco said. W e l l c o m e i s a supermarket chain owned by Jardine Matheson Group a nd one of t he la rgest supermarket chains in Hong Kong. Last year, Tantoco’s Rustan’s Supercenter Inc. partnered with the Jardine Group to bring Wellcome to the Philippines. “ T h a t ’ s j u s t t h e beginning. Because once we get into a city we want to grow our presence relatively very quickly,” Tantoco said, adding: “We intend to open more stores in Mindanao and several more in Cagayan de Oro.” The coming presence of Wel lcome in Lumbia augurs well for the Moreno administrat ion as he is eyeing Lumbia to be “the new center of t he new Cagayan de Oro.” “Having investors like Rustan’s is indeed ver y heart-warming and very inspiring,” Moreno said.

opposition. He said judging from the statements of Mangudadatu before the elect ion, “he has been expressing his support to the Framework Agreement.” “Actually, even during the campaign period he was also very, very supportive … of the FrameworkAgreement. In fact, he also thanked the MILF pronounce(ment) of neutrality (in) the election.” He expressed confidence that the Bangsamoro Basic Law that would be crafted by the Transition Commission would pass smoothly in Congress. “ We l l t h a t i s o u r expectation but you know the politics in the Philippines …But we are really banking on the statement of the elected officials expressing their support to the Framework Agreement and a lso the President’s.” (MindaNews)

Apart from palm oil, Indofood is also keen on e s t abl i sh i ng a ba na na plantation in the Philippines. “We’re looking at the banana industry because its attractive. The moment you enter agriculture, it is a commodity business. There is no production differentiation because bananas are bananas and palm oil is palm oil,” Pangilinan said. “We are at tracted to bananas as well because that is one crop to some degree we have influence in the pricing, because we are one of the biggest exporters in the world so that is quite attractive for pricing consideration,” he said. A key concern however is weather-induced damage, as seen from the losses inflicted by Typhoon Pablo last year. The typhoon, which cut a patch across Mindanao, cost the banana industry more than P22 billion, delaying exports to key markets.--Interaksyon

its Kalibo-Taipei f l ights effective May 20 until further notice, after its charter agent informed the company that the Taiwanese government has issued a “red travel advisory,” saying Taiwanese tourists are banned from traveling to the Philippines. The Taipei government’s move came after it dismissed Manila’s apology for the Philippine Coast Guard’s shooting of a 65-year-old fisherman as “not enough [and] lacking in sincerity.” Besides pursuing its Taipei f lights, Cebu Pacific is increasing connectivity to and from Mindanao by adding flight frequencies and options to travelers headed for Zamboanga, Tawi-Tawi and Davao. Start ing June 15, the airline will add two weekly flights using an Airbus A320 aircraft between Cebu and Zamboanga, making it a six

times a week service. Starting July 1, CEB will add thrice weekly f lights from Manila to Zamboanga, and from Zamboanga to Tawi-Tawi. The airline will operate a total of 32 weekly f lights between Cebu and Davao also starting July 1, with the addition of four more weekly f lights. “Cebu Pacific continues to develop its routes and hubs in Mindanao, to further benefit Philippine tourism and trade. These additional f lights mean more choices for our guests, be it same-day returns for business meetings or more opportunities for travel due to seat sales,” Iyog said. In the first quarter, Cebu Pacific grew its domestic passengers to and from Zamboanga by 17 percent, as well as its Davao hub by 20percent.

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