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Market Indicators

US$1 = P40.67 6,527.99 points

X

FOREX PHISIX

AS of 5:55 Pm feb. 13, 2013 (Wednesday)

X2cents

68.06points

BrieflyRebuilding cDoThe Land Bank of the Philip-pines (LBP) built partnership with Habitat for Human-ity Philippines Foundation Inc. (HFHP) in a “Rebuild CDO” livelihood program dubbed “Landbank Gawad Kabuhayan.” The fund worth P8,150,000 will benefit 500 HFHP home par tners in Phase III of Sitio Calaanan. The program Landbank Gawad Kabuhayan is de-signed to aid the recovery of 3,355 families affected by tropical storm Sendong, last 2011. The aid will be through assistance and trainings which will equip them with knowledge and skills needed in accessing and developing livelihood opportunities. “We likewise hope to promote the value of co-operat iv ism among the families to help improve their economic condition and to foster a social cohesion that will help in the emotional healing of the community,” said Landbank President and Chief Executive Officer (CEO) Gilda E. Pico.

Liquid quick freezerBUTUAN City -- The Depart-ment of Agriculture, in co-ordination with the National Agri-Business Corporation (Nabcor), turned-over a Liq-uid Quick Freeze Machine worth P4.6 million to the Tan-dag Boholano Fishermen’s Association (Tanbofisa) held recently at the Tanbofisa Ice Plant in Surigao del Sur. The freezer is a com-mitment of DA Secretary Proceso Alcala to the as-sociation when he visited Surigao del Sur on June 2011. The machine has a capacity to produce three tons of ice per day. The mak-ing of ice takes two hours and is done by batches with 16 blocks of ice weighing eight kilos each produced per batch. The machine can also be used to freeze agricultural products like fish, poultry, and vegetables to prolong its shelf life.

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Mindanao seen as next business frontier in PH

By ALLAN LEGASPI, Reporter

MINDANAO could be the country’s next business frontier if only in-frastructure, especially power,

were available, the chief executive of the Aboitiz group said on Wednesday.During the Phi l ippines’ Year-end Economic Brief-ing, Aboitiz Equity Ventures Inc (AEV) Chief Executive Officer Erramon Aboitiz said Mindanao is the new business frontier. It is rich in agricultural and natural resources [that] needs to be unlocked. But “Mindanao is con-strained by lack of reliable power, some infrastructure. No new power plant was built over a decade,” the executive

said. He said what had con-strained companies from ex-panding in Mindanao was the presence of National Power Corp (Napocor). “I hate to admit it but we were afraid of competing with Napocor in Mindanao,” Aboitiz said. State-owned Napocor operates the Agus-Pulangi hydropower complex, which provides at least half of Min-danao’s electricity supply.

Ineffective governance, patronage politics put

poor Kagay-anons at riskBy BONG FABECorrespondent

Internal Displacement in the Philippines (The Case of Tropical Storm Sendong). The report cited Republic Act 9729 (Climate Change Act of 2009) and Republic Act 10121 (National Disaster Risk Reduction and Manage-ment Act of 2010) which were hailed by Margareta Wahl-ström, special representative of the UN secretary-general on DRR, as the “best in the world,” indicative of a “shift from a react[ive] to a proac-tive stance in addressing

INEFFECTIVE local urban governance combined with patronage politics are putting poor Kagay-anons’ lives at risk to impacts of climate-induced natural disasters, the Internal Displacement Monitoring Centre (IDMC) said in a report. This despite the fact that the Philippines is “a global leader in enacting legislation related to disaster risk reduc-tion,” iDMC said in its 42-page report Disaster-Induced

BOC-10 to sell smuggled riceBy GERRY LEE GORIT, Reporter Port District Collector Lourdes

Mangaoang for Northern Min-danao said she will set the date for the auction of the abandoned imported rice to raise additional revenues for the government. In July last year, Acting Port Collector for MICPT Atty. Javier Alpaño issued an “alert order” against the 10 container vans loaded with 5,000 bags of Viet-namese Long Grain White Rice worth P9 million. The alert order was issued on the request of Intelligence Officer Mark Paras, also the officer in-charge of Customs Intelligence and Investigation Service (CIIS), for violation of the Tariff and Customs Code of the Philippines. The hot items were consid-ered abandoned after the owner, importer, consignee or interested party failed to claim the ship-ments within the permissible

Mrs. ‘Hanepbuhay’ Villar lands 9th in latest Pulse Asia surveyFORMER Las Pinas Rep. Cynthia Villar belongs to the Top 12 senatoriables chosen by voters in the latest survey of pollster Pulse Asia. K n ow n a s “M i s i s Hanep Buhay,” Vi l lar was ranked 9th with 39.1 voting preference in the sur vey conducted last January 19 to 30. Pulse Asia cited the close voting preference garnered by the sena-toriables occupying the fourth to twelfth places. Villar, who has re-mained in the “Winning Circle” of candidates for senators in the 2013 mid-term elections in various election surveys, says she feels elated and thank-

ful to the people for their support and trust in her and in what she has been doing. She says the results of the survey is inspiring and pushes her to work harder.

She attributes her inclu-sion in the “Magic 12” to her initiatives, especially her l ivel ihood projects which provide jobs for the poor and the advocacies of the Villar Foundation.

VIETNAM RICE. Deputy Commissioner for Intelligence Group retired Gen. Danilo Lim (left), newly-installed port district collector for Northern Mindanao Atty. Lourdes V. Mangaoang (center), and Acting Port Collector Atty. Javier Alpaño check the quality of the smuggled rice from Vietnam confiscated at the Mindanao International Container Port Terminal in Tagoloan town in Misamis Oriental.

photo by gerry lee gorit

THE Bureau of Customs in Region 10 (BOC-10) will sell through auction the smuggled rice it seized inside the Mindanao International Container Port Terminal (MICPT) in Tagoloan town in Misamis Oriental six months ago.

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Electrification program benefits 3,500 families in CamiguinBy JORIE C. VALCORZA, Contributor

MAMBAJAO, Camiguin -- A total of 80,492-ki-lometer additional power lines were installed here by the Camiguin Electric Cooperative (Camelco).

He noted that most of the areas served are level 4 to 6 sitios, which means, it’s very small and cannot even consume the 30 households’ assistance a l location for every sitio. With this, the coopera-tive have drafted a board resolution, realigning the extra funds to the remaining un-energized household in the old/existing lines. Camelco Members Ser-vices Division chief, Ray C.

This expansion project, ac-cording to the co-op general manager Adrian A. Ebcas, is under the National Elec-trification Administration (NEA) Sitio Electrification Program (SEP), l ikewise dubbed as “Pasuga Project.” It now covers 188 sitios

(zone or division within a barangay) and energized 3,525 needy families in the island. Ebcas said that under the Pasuga project, 30 house-holds will be subsidized by the government in every new line opened.

Badilla, however, clears that those households covered by SEP remains to be a priority. With SEP, connection fee is free and also materials and fixtures for beneficia-

ries. As project partners, the local government units have also waived its requirements in favor for the beneficia-ries, in which, they pay only for as low as P25 to

P100, instead of the P2,000 regular charge for power connection application. To date, 16,055 out of 17,683 potential households in the province were already energized.

DTI-Davao del Norte asks consumers to circulate coinsTAGUM City -- The Depart-ment of Trade and Industry (DTI) in Davao del Norte has called on consumers to circulate coins in a bid to address the reported short-age of the said currency in the country. In a statement, DTI-Davao del Norte provincial director Engr. Edwin O. Banquerigo said the Bangko Sentral ng Pilipinas (BSP) has noted that there is shortage and misdistribution of coins in the Philippines, which could have resulted to the problem of short-changing. He said instead of keeping and sometimes disregarding

the coins, every consumer must keep such in circula-tion. “Consumers should bring and use their loose coins, instead of keeping or throw-ing them away,” he said. Furthermore, the agency has also encouraged all es-tablishments in the province to be resourceful in securing coins to refrain from short-changing their customers - that instead of giving them the exact amount of change, candies are being tendered. Generally, this is not al-lowed following the rights of consumers to only pay the correct amount of the

purchased goods. However, giving candies as change could only be allowed if prudent efforts to secure change is made and is found untenable, and after being informed of the effort, the customer agrees to it. “The sales staff should be respectful and approach-able enough in asking the buyer if they can give candy instead of coins as change,” he said. Meanwhile, DTI-Davao del Norte has also urged the public to contact them should they have concerns relative to consumer rights. (PNA)

DavNor Prov’l Tourism Council reactivated, vows to bounce backBy CARMENCITA A. CARILLO

Contributoractive primarily because it was waiting for the Tourism Code. “We need the partnership of the government—we can-not be mobilized without the support of the government,” she said. Davao del Norte Governor Rodolfo del Rosario called for the reactivation of the Council, saying that “tourism is a private-led enterprise and we should move to reinvigo-rate tourism to contribute to the President’s target of 35 million domestic tourist arrivals by 2015.” “Our job is to keep tourism

TAGUM City --The Pro-vincial Tourism Council of Davao del Norte vowed to bounce back and become more active in promoting tourism in the province now that it has been reactivated. “People may perceive the Tourism Council as inactive but in reality we are working on the tourism guidelines for the Tourism Code of the province,” Provincial Tourism Council president Araceli Ayuste said. Ayuste admitted that the Council has not been very

rolling and keep pace with the national government’s tourism plan,” he said. The exist ing of f icers of the Provincial Tourism Council, specif ically the President (Ayuste) and Vice President (Dizon Namoag) were retained, pending the approval of the Provincial Tourism Code by the Sang-guniang Panlalawigan. One of the initial plans of the Council, which was supported by del Rosario, was the construction of a banana sculpture in the boundary of Panabo City and Davao del Norte.

Apple loses rights to iPhone trademark in BrazilBRASILIA — Regulators in Brazil on Wednesday rejected Apple’s application to register its iPhone trademark in the country, having already rec-

ognized a local manufacturer’s claim to the name. The Institute of Industrial Property (INPI) “denied Apple registration of the iPhone trade-

mark,” the institute’s press office told AFP. The decision was officially published by the INPI. Apple had applied for ex-clusive rights to the iPhone name in Brazil in 2007 when it launched the wildly popular smartphone in the huge Latin American market. But Brazilian manufacturer Gradiente SA had applied to register the brand “Gradien-te iphone” in 2000, and was granted rights to it in 2008. Apple can still sell its smart-phones in Brazil with the iPhone name, but Gradiente has the option of suing for exclusivity, the institute said. Apple petitioned the in-stitute to cancel Gradiente’s trademark, arguing that it had expired because the company had not used it in five years, the institute said. But Gradiente surprised the market by launching a “Gradi-ente iphone” at the end of the year, bringing the dispute to a head. At the end of 2012, a Mexi-can court ruled in favor of the Mexican telecommunications firm Ifone in a similar trade-mark dispute with Apple.

conTRacTs/PAGE --

Philippine vehicle assembly contracts despite record car salesMOTOR vehicle production in the Philippines last year lagged behind most of its Asean neighbors amid lack of government support leading more Filipinos to buy imported cars.

troit, Thailand marked its 2 million-unit production milestone last year, and is now the world’s 10th larg-est auto manufacturer with assembly and parts plants in seven provinces. That country aims to produce three million vehicles in 2017. Indonesia, meanwhile, is a fast-rising car assembler that aims to catch up with Thailand. While the Philippines managed to slightly exceed Vietnam’s production last year, the latter has much po-tential and is well-positioned for growth, AAF Council past secretary-general Frank M. Nacua told InterAksyon.com. Vietnam beat the Philip-pines by hitting the 100,000-unit production mark in 2011 before declining by over a fourth last year as domestic

Data from the Asean Auto-motive Federation (AAF) showed that the Philippines churned out 75,413 vehicles in 2012, or 16-percent more than the 64,906 units as-sembled in the country in 2011. Two-thirds or 49,073 were commercial vehicles, while 26,340 were passen-ger cars. The AAF figures ref lect the combined output of domestic auto assemblers, including the Philippine units of Japanese carmakers Toyota, Mitsubishi, Honda, Isuzu and Nissan, as well as of Ford Philippines before it stopped assembly operations last year. Automotive production in Asean last year rose 41.5

percent to 4,237,980 units from 2,994,629 in 2011. The Philippines accounted for a measly 1.78 percent of Asean’s total output in 2012. Local production paled in comparison with Thai-land’s almost 2.5 million, Indonesia’s over a million, and Malaysia’s more than half a million. Thailand is considered as the region’s automotive manufacturing hub. AAF data showed that over 1.4 million vehicles were sold in that country last year. Of the over 2.4 billion assembled there, about 1 million were exported mainly to its Asean neighbors, including the Philippines. Dubbed as Asean’s De-

sales went down. Nacua, who is also Philip-pine Automotive Federation Inc (PAFI) secretary general, noted that Vietnam’s govern-ment has put in place initia-tives that would bolster both domestic manufacturing and sales. “Vietnam strengthened its policy against importa-tion of used vehicles. It has attractive incentives for local auto assembly. Also, the most favored nation (MFN) tariffs of Vietnam are still high at 80-100 percent,” Nacua said, referring to the duties slapped on products from outside Asean and the countries that have free trade agreements (FTAs) with the region. Given the said conditions, it is cheaper to produce ve-hicles in Vietnam and costlier to import, Nacua said. The situat ion in the

Kia records 13.9% global sales growthSEOUL -- Kia Motors Corpora-tion bared its global sales figures for passenger cars, recreational vehicles (RVs) and commercial vehicles for January 2013, re-cording a total of 211,088 units sold. This figure represents a year-on-year increase of 13.9%. In January, Kia posted a strong double digit year-on-year sales increase in China of 50.3% (57,575 units sold) along with positive gains in all of its

other major sales regions – 6.3% in Europe* (38,059 units sold), 6.0%% in Korea (36,250 units sold), 4.1% in General Markets* (39,229 units sold) and 1.7% in North America (39,975 units sold). It was the highest total global January sales ever for Kia. Kia’s bestselling model in overseas markets for the month of January was the B-segment Rio (known as ‘K2’ in China)

with 35,860 units sold. The C-segment Cerato (known as ‘Forte’ in some markets) was the second best seller with 33,940 units delivered, while the Sportage compact CUV, Optima D-segment sedan and Sorento mid-size CUV followed with 30,565, 19,962 and 14,881 units sold, respectively. Tae-Hyun (Thomas) Oh, Executive Vice President & COO of Kia Motors Corpora-

tion, said, “It’s always great to kick off a new year with double-digit year-on-year sales growth, and we are par-ticularly pleased to see China perform so amazingly well. We expect our momentum there to continue, and our third China plant, which we broke ground on last year, will be a catalyst for continued growth in this strategically significant market.”

Ford-Philippines reports best-ever Jan. performanceCONTINUING the mo-mentum of its record month and quarter ending in De-cember, Ford Philippines last week reported a retail sales jump of 123% year-over-year to 820 units. The record month was given a significant boost by the robust performance of the all-new Focus, with January sales of 95 units -- the strongest single month in almost three years. “The all-new Focus is the latest proof point of our commitment to offering

segment-leading vehicles,” said Randy Krieger, presi-dent, Ford Group Philip-pines. Sales of the Fiesta, mean-while, rose by 17% to 167 units. In January, Ford also celebrated the continued expansion of its nationwide dealer network with the in-auguration of Makati Ford, the sixth new full sales and service outlet opened since the firm announced a plan to expand its nationwide network to 35 by the middle of the year.

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for prohibition on second-hand vehicle imports, whereas various auto industry play-ers have been batting for a total ban. As a result, used cars flood some of the coun-try’s ports and have become cheaper alternatives to brand new units. Before the administration of former President Gloria Arroyo drew to a close in 2010, she signed EO 877-A or the Comprehensive Motor Vehicle Development Program (CMVDP) aimed at giving auto manufacturing a shot in the arm. Critics however blasted EO 877-A as having nothing new to offer, while a few alleged it was a “midnight EO.” The Department of Trade and Industry (DTI) under the Aquino administration eventually shelved the im-

plementation of EO 877-A; instead, the agency enjoined industry players last year to come up with a manufactur-ing roadmap. According to Nacua, the DTI’s Board of Investments (BOI), which supervises the implementation of EO 156, has pledged to present its ap-proved auto industry roadmap to stakeholders “soon.” Nacua said the BOI is studying the additional incen-tives proposed by domestic vehicle assemblers. But recent events may indicate that the BOI has been slow in doing so, as the Philippine unit of American car giant Ford finally pulled the plug on its assembly and export operations, displacing over 100 workers. Ford was the lone par-ticipant in the government’s

Automotive Export Program under EO 244, which already lapsed. A proposed EO con-taining a new auto export program, drafted by the BOI in 2010, went unapproved by the Aquino government. Following reports of new facilities in Thailand, Ford eventually shut down its manufacturing operations in the Philippines, with ex-ecutives citing the country’s “small automotive market” as a reason. It should be noted, how-ever, that Philippine auto sales are growing—even hitting a record-high in 2012. After vehicle sales skid-ded in 2011 due to the sup-ply shortage caused by the disasters that hit major auto and parts manufacturers Ja-pan and Thailand, last year’s Philippine sales rebounded by

more than a tenth to 156,654 units, AAF data showed. For the Philippines, the AAF data reflected sales of 16 car companies belonging to two industry groups: the Chamber of Automotive Man-ufacturers of the Philippines Inc (Campi) and the Truck Manufacturers Association (TMA). Sales of the Association of Vehicle Importers and Dis-tributors Inc (AVID) were excluded from AAF’s data. AVID groups pure importers, including the distributor of South Korea’s Hyundai—the third-largest selling brand in the Philippines. AVID’s seven members (including one that is also part of Campi) sold 28,400 vehicles last year, up from 24,880 in 2011. Other companies, par-ticularly distributors of very

expensive luxury vehicles, do not disclose their sales figures. Combining Campi-TMA and AVID sales will result in almost 185,000 units. Vis-à-vis domestic production of 75,413, it can be deduced that a little less than 110,000 vehicles sold in the country were imported. “Local sales are grow-ing but the share of CKDs is decreasing while CBUs are increasing,” Nacua said. CKDs refer to completely knocked down vehicles that require domestic assembly, while CBUs pertain to completely built up units. To reverse this trend and boost domestic assembly, any new automotive program that the government would introduce should “stop the bleeding” among manufac-turers, Nacua said.

Philippines is different. For one, the Philippines has FTAs with Asean and Japan that slash tariffs on imported goods, including vehicles. Hence importing vehicles from parent automakers’ plants in Indonesia, Japan or Thailand are preferred than assembling here, where labor and power costs are higher. While the Philippines since 2002 has an existing incentives program for motor vehicle manufacturers under Executive Order No. 156, or the Motor Vehicle Develop-ment Program (MVDP), this initiative had been deemed a failure as it was unable to grow domestic production. EO 156 was also seen as weak because it only provided

Aboitiz Power to spend P85B in next four yearsLISTED Aboitiz Power Corp. plans to spend around P85 billion in the next four years for its projects across the country, its top official said on Wednesday. “We are going to invest around P85 billion for the building of new power plants across the Philippines in the next four years,” Aboitiz Power President and Chief Executive Officer Erramon I. Aboitiz said on the side-lines of the Philippine Eco-nomic Briefing at Philippine International Convention Center in Pasay City. Mr. Abotiz said the in-vestment will be used for its equity share in Redondo Peninsula Energy, Inc. (RP Energy); expansion of the 700-megawatt (MW) coal-fired power plant in Pagbi-lao, Quezon; the 300-MW coal-fired power plant of its subsidiary in Davao; and some new hydropower projects. “The P85 bi l l ion is a combination of our invest-ments in RP Energy, the Pagbi lao expansion, the Therma South, Inc. (TSI) coal plant in Mindanao, and some hydropower projects that we’re looking at. That all sums up to P85 billion,” he said. Aboitiz Power holds a 25% stake in RP Energy

which is the proponent of a 600-MW coal-fired power plant in Subic, Zambales. The facility is expected to add capacity to the grid by 2016. Other stakeholders are Manila Electric Co. and Taiwan Cogeneration Corp. The company, through its subsidiary Therma Luzon, Inc., also operates the coal facility in Pagbilao, Que-zon under an independent power producer administra-tor contract it secured from the Power Sector Assets and Liabilities Management Corp. Mr. Aboitiz said that the company will expand the facility’s capacity by constructing another 400-MW unit. “We hope to break ground this year, hopefully in the second half, and have that ready by 2016,” he said.

Mr. Aboit iz sa id the company is also looking at building three to four mini hydropower plants with aggregate capacity of around 100 MW. “In the next three to four years, we’re looking at adding a little over 100 MW of mini hydro,” he said. “We’re looking at here in Luzon, and also some more in Mindanao, but we don’t have a particular approved site at this point.” Mr. Aboit iz sa id the company will finance the P85-bi l l ion i nvest ment through a combination of equity and loans. “What we do in our proj-ects is we get some project financing from banks -- nor-mally, about 70% -- and then the balance is the equity that we put in as Aboitiz Power,” he explained. “We’ll probably sign loan agreements for those this year, probably within the second and third quarters.” Aboitiz Power, the power unit of the listed conglomer-ate Aboitiz Equity Ventures, Inc., engages in power gen-eration and distribution. Aboitiz Power grew its profit by 13.71% to P14.1 billion as of September last year from P12.4 billion in the same nine months in 2011.

Meanwhile, TSI is build-ing a 300-MW coal-fired power plant in Davao. The facility is expected to start commercial operations by 2015. “We are investing in a 300-MW base load plant in Davao City to provide long-term solution to power shortage in Mindanao. This will also help drive econom-ic growth in Mindanao,” Mr. Aboitiz said. Mindanao has constantly reeled from power shortage, partly due to its over-reli-ance on hydro power plants that prov ide more than half of the entire island’s supply. The National Grid Corporation of the Philip-pines yesterday estimated Mindanao’s shortage at 253 MW, with peak demand of 1,168 MW outstripping a 915-MW capacity.

GMA allots P640M for more facilitiesBROADCASTER GMA Net-work, Inc. will spend more than P600 million this year on new facilities and satellite stations, the company said in a disclosure yesterday. “The company will allot around P600 million for its expansion efforts, particu-larly for the acquisition of new equipment/facilities, opening of new originating stations, etc.,” the broadcast-ers’ disclosure said, without elaborating. The figure forms part of the P1-bil lion capital expenditure (capex) this year, Butch S. Raquel, GMA consultant for corporate communications to the chief executive officer, said in an e-mail yesterday. “Aside from the P640-million capex budgeted for this year, there is a carry-

over of P338 million from last year. Hence, the total to be spent this year is P978 million,” Mr. Raquel said. GMA’s programmed ca-pex for 2012 was P972 mil-lion, according to previous disclosures. Last year, the company builtthree satellite stations in Ilocos Sur, Naga City and in Cagayan De Oro City in a bid to increase its presence in these areas. In the same disclosure yesterday, the company said it expected to earn P3 bil-lion in net income for this year, almost double the P1.7 billion it estimates to have booked last year -- compared to initial estimates of P2.3 billion in November and P2.8 billion in March. “Profits dipped towards the end of the year,” the disclosure read.

SM Babies: Special Moments with Andi Eigenmann and EllieSM handpicks young mom for formal launch of SM Babies

ANDI Eigenmann has come a long way since debuting in the world of show business as a fresh-faced teenager in 2007. Now 22 years old and touted as the “Heiress of Drama,” Andi takes on the biggest role she’s ever had to play: that of a mother. It’s for this very reason that SM Department Store, the country’s biggest retail chain, chose Andi and daughter Ellie to be brand ambas-sadors for SM Babies this season. “We selected moms who are aspirational figures in their respec-tive fields,” said Jo Dy Juanco, Vice

President for SM Babies and SM Kids’ Fashion. “Andi is a young mom and we want to show that regardless of age or background, a mother’s love for her child is universal.” For its formal launch, SM Babies held a photo exhibit called “Special Moments” which featured 14 of Metro Manila’s loveliest moms and their beautiful bundles of joy at the Manila Peninsula Conservatory. Andi graced the event, with the adorable baby Ellie in tow. “SM has always been a trusted brand and I’m thankful that they chose me and Ellie to be part of this special event,” exclaimed Andi. “I’m not as experienced as the other moms but I’m fully committed to being the best mom that I can be to Ellie.”

When asked about her special moments with Ellie, Andi shared, “Defintely the ones where I get a full day to myself and get the chance to take her out. I’m able to focus on her and see her play, smile, and laugh. Those are the moments I treasure because nothing makes me happier than seeing her happy.” Andi also shared how motherhood has changed her greatly. “I’ve definitely matured a lot since becoming a mom. I’m aware that I’m not just accountable for myself anymore. I’m responsible for someone’s life and that someone depends on me completely.” Positively glowing while talking about baby Ellie, it’s clear that motherhood certainly suits the young mom.

Forex losses drag down Universal Robina’s 1Q earningsTHE maker of C2 tea drink and Jack ‘N Jill snack food on Thursday reported its earnings slipped in the first quarter of its f iscal year 2013 after incurring foreign exchange losses. In a regulatory filing, Uni-versal Robina Corp (URC) said its net income slipped 2.8 percent to P2.30 billion in the October to December period from P2.36 billion in the same period in 2011.

Net income attributable to equity holders of the parent dipped 2.7 percent to P2.28 billion from P2.22 billion. The Gokongwei-led food and beverage firm attributed the decline to the net foreign exchange loss of P307 million during the period compared to the gain of P206 million in the previous year “due to unrealized forex losses as a result of the continued

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oRDonez/PAGE 8 ciMagaLa/PAGE 8

How to fall in love

FR. ROY CIMAGALA

Hints and traces

Inquiries on Credit Card Debts

DOES one of your New Year resolutions concern getting out of credit card debt and getting those insistent and constant calls from collec-tion agencies out of your life? The BSP’s Fina ncia l Consumer Affairs Group (FCAG), i n it s Week ly Wealth Watch e-leaf let, has answered common consumer inquiries on the legal li-abilities of cardholders for nonpayment of credit card debts and regulations con-cerning collecting agencies. The following issues, as explained by FCAG, will en-

Forcible labor in UAEFILIPINOS traveling abroad must have one piece of docu-ment before they are allowed to go out of the country. He or she must have a passport. When they board interna-tional f lights either to travel as tourists or to work abroad, they must know that, except for the Philippine Embassy, nobody or no agency can take hold of their passports. It is for them to keep. But what will an OFW do if his or her employer take his or her passport and keep it away from him or her? Big problem and this is actually a common practice in the United Arab Emirates (UAE). A passport is an offi-cial document issued by the government, certifying the holder’s identity and citizen-ship, and entitling a person to travel. Without a passport, a traveler cannot move from one place to another even if his intention is to come home to his own country. Unless and until he or she takes hold of his or her passport, no travel transaction can be arranged; and neither can a person stay in the foreign country he or she is working if he or she lost this piece of document. Most of the employers of Filipino workers in the UAE locked their passports in their safety boxes in the guise of keeping it with the company to safeguard the company’s equipment or of-fice devices issued to them, like laptop, cellular phone, camera, among others. But what is stated in the

law? Retaining passports is understood to be “forcible labor.” No less than the legal department of the UAE gov-ernment said that private businesses and government institutions that withhold their employees’ passports are breaking the law. The practice of retain-ing passports in the UAE is illegal, according to court rulings, as well. A worker, whose employer withholds his passport and refuses to return it, can quit without a notice period and demand a compensation for dismissal. Retaining workers’ pass-ports amounts to forcible work in violation of the in-ternational Labor Organi-zation’s Convention on the Abolition of Forced Labor and to which the United Arab Emirates is one of the signatories. A passport is a personal document that proves the identity of the holder and the law stipulates that the bearer must keep his or her passport and present it to

Ignorance is Not BlissTHINK a minute… During World War II, an uneducated man who lived out in the hills brought this letter to the city to hand de-liver it to the United States Army. Since he could not read or write, his wife had written it for him. The letter said this: “Dear United States Army: My husband asked me to write a recommendation that he supports his family. He can-not read. Please take him. He ain’t no good to me. He ain’t done nothing but make trouble and drink beer since I married him 8 years ago. And I got to feed his 7 kids. Maybe you can get him to carry a gun. He’s good at huttin’ squirrels and eatin’. Take him. I need his food and bed for the kids. Don’t

tell him I said this, just take him.” Well, I suppose it’s safe to say that husband’s ignorance was not bliss! What he didn’t know did hurt him! A story is told of a thief in ancient times who stole a very valuable coat. The coat was made of the finest ma-terials, including buttons of pure silver and gold. When he returned to his friends after selling the coat in the market, they asked him how much money he’d got for the coat. He answered, “A hundred pieces of silver.” His friends were shocked and upset. They said: “You only got a hundred pieces of silver for that rare, valu-able coat!” The thief looked surprised and asked: “Why? Is there a number higher

than 100?” You see, if you don’t know there’s more, you won’t ever get it. There’s so much in life for us to enjoy, just waiting for us to get it. If all you’re used to eating is bread and water, then you don’t know you could be eating steak and lobster! There’s one person who can show you everything there is to be enjoyed in life. Naturally, that is the one who created life. Jesus Christ came to show us what it means to be fully human and fully alive, so we can live our lives to the fullest! He also knows the dangers that can trick and trap us. He’ll protect you from the pain you and your family will have if you don’t live your Maker’s way that He de-signed for your happiness. So

why not ask Jesus to forgive you for living your own way, and ask Him to take charge and start showing you how to live His satisfying way? It’s the only way you won’t miss out on every exciting, good thing He has planned for your life. Just think a minute…

JHAN TIAFAU HURST

Think a minute

oFw odyssey

Speaking out

IGNACIO BUNYE

CHENG ORDOÑEZ

able you to learn about your rights as a consumer and help you know what to do when you find yourself in a credit card-related quagmire. Can you go to jail or get sued for credit card debt? A civil action for collec-tion of sum of money may be filed by the credit card issuer for non-payment after the credit card debt becomes “due and demandable.” Ac-cording to the FCAG, this is not punishable by impris-onment. However, there is a possibility of the “attach-ment of your properties” to satisfy the amount claimed by the credit card issuer. It should be noted that a criminal case may be filed against the cardholder for committing prohibited acts under Republic Act No. 8484, otherwise known as the Access Devices Regu-lation Act of 1998. Such illegal acts include obtain-ing money or anything of value through the use of an access device, with intent to defraud or with intent to gain, and f leeing thereafter

(as provided under Section 9 of the law). There is presumption and prima facie evidence to have utilized the credit card with intent to defraud under Section 14 of R.A. No. 8484 if a cardholder abandons or secretly leaves the place of employment, business or residence stated in the cardholder’s applica-tion or credit card, without informing the credit card company of the place where he or she could actually be found or contacted—if at the time of such abandonment or “surreptitious leaving,” the outstanding and unpaid balance is past due for at least ninety (90) days and is more than P10,000. Can people from col-lecting agencies go to your house? What can you do when they do this? There is no law or regu-lation banning collecting agents to go to the house of the cardholder, accord-ing to FCAG. Collection agents may resort to a l l reasonable and legally per-

FALLING in love is certainly not only a pastime, nor a sideline, nor a f ling. It’s the main thing, the main course in life. It’s our lifeblood. All of us need to fall in love, because without love, life would have no meaning, no purpose, no lasting and eternal effect. Without love, life would fail to fulfill the deepest yearning of our heart. Without love everything falls f lat. Though in practice we always love one way or an-other-even if our loving is defective-we have to realize also that we need to fall in love properly, understanding such love as going beyond the dynamics of the emotions and passions that at best are just transitory. For sure, love should not just be an outlet of some hormonal surges that can get stirred by what we see, smell, touch, taste or like.

therefore entails going to God first. That is why we need to learn to pray, to enter into a very personal and intimate relationship with him, and this usually takes place first of all in our mind and heart, in our thoughts and desires. We need to see to it that these basic human operations are anchored on God and are inspired by his love for us, that is, his care for us, the

missible means to collect from the cardholder the amount due under the credit card agreement, provided that in the exercise of their rights and performance of duties, they must observe good faith and reasonable conduct and refrain from engaging in unscrupulous and untoward acts. Subsec-tion X320.14 of the BSP’s Manual of Regulations for Banks (MORB) lists possible unfair collection practices by these agencies. Section 4 of BSP Circular No. 702, Series of 2010 also requires that banks/quasi-banks and their subsidiary/affiliate credit card compa-nies inform their cardholders in writing of the endorse-ment of the collection of their account to a collection agency/agent, or the endorse-ment of their account from one collection agency/agent to another, at least seven (7) days prior to the actual en-dorsement. The notification shall include the full name of the collection agency and its contact details.

Neither should it be just a function of some psycho-logical and temperamental conditionings and other socio-cultural factors. How then should we fall in love properly? By under-standing love, first of all, as a gift from God that we need to receive and correspond. Love comes from God. It can only be lived and developed in him, and never outside of him. Let’s stop deluding our-selves by thinking that we can generate love by ourselves. We can only love when we receive first the gift of love from others. These others can be, from a chronological point of view, first, our parents, then our siblings, relatives and friends, etc. Only then can we learn how to love others. But viewed from a bigger perspective of love in its ultimate dimensions,

we actually receive love first, in the absolute sense, from God. It is God who loves us first. That’s why in his first letter, St. John said: “In this is charity-not as though we had loved God, but because he has first loved us, and sent his Son to be a propitiation for our sins.” (4,10) We have to understand that we need to tackle love first of all in its theological sense before it is consid-ered from other valid but incomplete and imperfect viewpoints. That would be putting love in its proper framework and context. That’s usually our prob-lem. Many of us are still allergic to seeing things in life in a theological way, al-lowing faith to shed light on what our senses can discern and on what our intelligence can understand. To fall in love properly

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Republic of the PhilippinesREGIONAL TRIAL COURT OF MISAMIS ORIENTAL

10th Judicial RegionBranch 20

Cagayan de Oro City

OFFICE OF THE PROVINCIAL SHERIFFnoTice oF eXTRa-JuDiciaL FoRecLosuRe

eJF File no. 2013-026

Upon extrajudicial petition for sale under Act No. 3135 as amended by Act No. 4118, filed by HoMe DeveLoPMenT MuTuaL FunD or Pag-ibig FunD- cagayan de oro branch office, a government financial institution with principal office address located at the atrium building, Makati avenue, Makati, Metro Manila, against cesaR P. aRes, of legal age, married to eLsie s. aRes, Filipino, with postal address at 144 R. Magsaysay St., Cagayan de Oro City, to satisfy the mortgage indebtedness which as of October 10, 2012, amount to one HunDReD TWenTY eigHT THousanD siX HunDReD FoRTY Five & 83/100 Pesos (Php128,645.83), Philippine currency, inclusive of interest & penalty charges, attorney’s fees and expenses of foreclosure, the undersigned or dully authorized deputy will sell at public auction on February 28, 2013, at 10:00 a.m. or soon thereafter at the main entrance of the RTC-BR. 20, Hall of Justice lobby, Hayes St., Cagayan de Oro City to the highest bidder, for Manager’s check or casH in Philippine Currency, the following property/ies described below with all the improvements included thereon, to wit:

TRansFeR ceRT. oF TiTLe no. T-16519 “a PaRceL oF LanD, incLuDing iMPRoveMenTs FounD therein: (Lot 5559-E-5, Psd-104321-020323, being a portion of Lot 5559-E, Psd-10-008614) situated in the Bo. Of Igpit, Mun. of Opol, Prov. of Mis. Oriental, Island of Mindanao. Bounded on the SE., along line 4-1 by Lot 5559-E-7, ( road Lot 6.00 M. wide)., on the SW., along line 1-2 by Lot 5559-E-6, both of the Subd. plan Psd-104321-020323 on the NW., along line 2-3 by Lot 3558, Cad-237, Cad., on the NE., along line 3-4 by Lot 5559-F, Psd-10-008614.xxx Containing an area of TWO HUNDRED EIGHTY SIX (286) sq.m. Registered in the name of CESAR P. ARES married to ELSIE S. ARES.”

All sealed bids must be submitted to the undersigned on the above-stated time and date. In the event Auction Sale cannot take place for whatever legal reason, the same will proceed on the following working day, without further notice, posting and publication. Prospective buyers may investigate for themselves the title herein above-described and encumbrances thereon, if any there be. Cagayan de Oro City, Philippines, January 22, 2012.

(Sgd.) ceLesTiaL venus g. geLboLingo Sheriff IVBWM: Feb 1, 8 & 15, 2013

Republic of the PhilippinesREGIONAL TRIAL COURT OF MISAMIS ORIENTAL

10th Judicial RegionBranch 25

Cagayan de Oro City

OFFICE OF THE PROVINCIAL SHERIFFnoTice oF eXTRa-JuDiciaL saLe

eJF File no. 2013-009

Upon extra-judicial petition for sale under ACT 3135 as amended, filed by HoMe DeveLoPMenT MuTuaL FunD or Pag-ibig, Mortgagee, with office address at J.R. borja street, cagayan de oro city, against MaRie cHou L. LacanDuLa, Mortgagor, married to ceasaR g. LacanDuLa with postal address at Block 9, Lot 8, NHA Barra, P1, Opol, Misamis Oriental, to satisfy the mortgaged indebtedness which as of October 10, 2012 amounts to one HunDReD eigHTY TWo THousanD nine HunDReD FoRTY nine Pesos & 17/100 (P 182,949.17) inclusive of interest and penalty charges, attorney’s fees equivalent to ten (10%) of the total indebtedness plus the foreclosure expenses, the undersigned or his duly authorized deputy will sell at public auction on March14, 2013, at 10:00 a.m. or soon thereafter at the main entrance of the Hall of Justice, Regional Trial Court, Branch 25, Arch, Hayes Street, Cagayan de Oro City, to the highest bidder, for casH and in Philippine Currency the following property described below, to wit:

TRansFeR ceRTiFicaTe oF TiTLe no. T-29832 “A PARCEL OF LAND (Lot 8, Block 9, Pad-10-020903, being a portion of Lot 5237, Cad-237, Cagayan Cadastre) situated in the Barrio of Barra, Municipality of Opol, Province of Misamis Oriental, Island of Mindanao, Bounded on the NE., along line 4-1 by Lot 10., on the SE., along line 1-2 by Lot 7., on the SW., along line 2-3 by Lot 6., all of block 9., on the NW., along line 3-4 by Road Lot 9 (6.50 m. wide)., all of the subdivision plan Psd-10-020903., containing an area of ONE HUNDRED (100) square me-ters, more or less and all other improvements existing thereon, registered in the name of MARIE CHOU L. LACANDULA, married to CEASAR G. LACANDULA.”

All sealed bids must be submitted to the undersigned on the above stated time and date. In the event the public auction should not take place on the above date stated, it shall be on the next working day without further notice. Prospective buyers/bidders may investigate for themselves the title of the herein described property and encumbrances thereon, if any there be. Cagayan de Oro City, January 25, 2013.

FOR THE EX-OFFICIO PROVINCIAL SHERIFF:

(SGD) Love M. veRDaDeRo Sheriff IVBWM: Feb 1, 8 & 15, 2013

Ordoñez...from page 6

Cimagala...from page 6

enough to withstand going through court proceedings, it is a fact that it is not easy to go against an employer’s will who wants to take hold of his employee’s passport. Even in the workplace I had worked in Dubai, the Syrian employer of Filipino nurses in his nursing service business, in cahoots with a Filipina assistant, practical-ly rob their employers with their rights to have their passports with them. And yet, this company doesn’t issue any equipment to compel it to take hold of the Filipino nurses’ passports. For many instances, outgoing workers of this Syrian and his Filipina as-

spiritual combat and what is known as ascetical struggle, aside from the fact that it is meant mainly to arouse in us the spirit of penance. This spirit of penance is also as aspect of true love. Where there is love, the de-sire to make up for our past mistakes, falls, offenses, etc., also would come naturally to us. And yet this desire for penance is done in joy and peace, knowing that it is precisely out of love that we do it. Proper loving, while it is also abiding, is never showy. Neither does it engender in us the mentality or feelings of a victim. Loving is the assertion of freedom. We do things because we want to.*** Emai l: roycimagala@gmail.com

authorities concerned upon their request. However, the practice of making applicants sur-render their passports as prerequisite for recruitment or forcing a hired workers to hand over their passports in place of issued office devices or company equip-ment continues unabated. This, despite the fact that UAE courts have always ruled that passports must be returned to workers. Filipinos who plan on working in UAE has this eventuality to prepare. Unless an OFW is tough

sistant had to beg for their passports. On one occasion, an outgoing Filipina nurse went to the point of tagging along two policemen to help her get her passport. But the Syrian stood his ground and speaking in Arabic to the police-men, refused to release her passport. The Filipina and the two policemen left the Syrian’s office without the passport. So, what labor law is it that UAE talk profoundly about? When even a Syrian employer and a Filipina assistant can refuse police-men from taking an OFW’s passport? Call it forcible labor

but this kind of practice is skyrocketing as the edifices in the UAE. Whether it involves specialized skill or simple talent to do the job that a worker has applied for, his or her passport must be available instantly at an instance that authorities ask him or her to produce it. The solution to this mal-practice, therefore, rests behind the UAE authorities -- to regularly conduct un-announced inspections at workplaces and ask workers if they have their passports with them. So, before signing any contract, an applicant must ask his or her employer if it is within their company

policy to retain passports. If the answer is yes, an ap-plicant can try to negotiate or try to look for another job. Most of the employers will tell their employees that they will return their passports after visa pro-cessing. Doubt it. The best thing to do is put them in writing and let them sign for future reference. Our embassy and con-sulate cannot do anything about this situation. (For comments, email cheng.ordonez@gmail.com) *** (The writer was a former overseas Filipino worker himself. He was the found-ing Editor-in-Chief of Ka-

bayan Weekly, a newspaper being published in Dubai, United Arab Emirates, and circulated in nearly all the seven Emirates. His encoun-ters with the Filipinos in the UAE and Persian Gulf gave him startling observations of the situations Filipinos are experiencing in those parts of the world – includ-ing Filipinos victimizing their own kababayans or in cahoots with foreign em-ployers. His column, OFW Odyssey, is a revelation of the many struggles of OFWs that even the Philippine Embassy and the Consul-ate, in their comforts, may hardly have real glimpse. Let the journey begin).

us, the truth that he teaches us, his way of doing things that gives us an idea of how our virtues ought to be de-veloped. Definitely, we need to do some disciplining and controlling of our thoughts, imagination, feelings, etc. We just should not allow them to go on their own without the guidance of faith and the drive of charity that comes from God. Indeed, a lot of training is needed here, if not, con-tinuing struggle and combat, since we cannot deny the fact that we are beset with weak-ness and a certain attraction to evil, if not outright malice. Besides, temptations are all around us. Loving there-fore involves suffering, a certain measure of pain, an-guish, tension. These should not dampen our spirits. We should rather consider them as elements that add fun and excitement and suspense in our life. The liturgical season of Lent is a good occasion to go deeper in the skills of

Losses...from page 4appreciation of the local currency.” Consolidated sale of goods and services jumped 11.8 percent to P20.098 billion from P17.98 billion a year ago on the strength of the branded consumer foods

(BCF) segment, which ac-counted for 75.9 percent of total sales. Sales of the BCF group, excluding the packaging divi-sion, went up 10.9 percent to P15.25 billion from P13.75 billion after the domestic business grew at a faster rate of 18.5 percent to P9.93 billion from P8.38 billion last year, on the back of the strong performance of its coffee business and ready-to-drink tea business. “Sales for snack foods division slightly declined due to some temporary supply chain issues and competitive pressures as consumers go for lower priced and lower value-added products,” said URC. Strong sales in Vietnam and Indonesia pushed the BCF group’s international sales by 4.9 percent to $129 million. In Philippine peso terms, BCF international sales dropped to P5.32 bil-lion from P5.361 billion. Revenues from the com-modity foods segment rose by nearly a third to P2.45 billion from P1.89 billion last year because of the 86.1 percent surge in the sugar business

because of higher volumes. The f lour business declined 7.8 percent because of a drop in volumes as imports of low cost f lour increased and calamities affected Visayas and Mindanao regions. Net sales of the agro-industrial group climbed by a tenth to P2.099 billion as the farm business over-shadowed the weakness in the feeds division. Lower prices and vol-umes dragged the sales of the packaging division by 28.8 percent to P304 million from P427 million. Cost of sales increased 8.5 percent to P14.537 billion from P13.393 billion. Cost of sales consists primarily of raw and packaging materials costs, manufacturing costs and direct labor costs. URC booked an operat-ing income of P2.34 billion, 19.5 percent higher from the P1.958 billion a year ago. In January, Lance Go-kongwei, URC president and chief operating officer, said the company’s operat-ing income will grow in the mid-teens, while sales will expand in the low-teens in the 2013 fiscal year.

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ing no payment of customs duties and taxes, but being paid for by the NFA since it is a subsidized importation,” Lim said. Lim said his office will coordinate with the BOC’s Run-After-the- Smugglers (RATS) for the subsequent filing of appropriate charges in court against the consignees of the imported rice. Mangaoang has earlier vowed to intensify the agency’s anti-smuggling drive after her superior ordered her to check the alleged “oil smuggling” in the ports of Northern Mind-anao.

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Business...from page 1

responsibility and resources to LGUs. “As a result of the Philip-pines’ constitution and politi-cal system, local government officials have autonomy on issues such as enforcing local building codes and land use plans, both of which can ensure that people live in safety, away from the most hazard-prone areas,” Ginnetti said. The Disaster-Induced Internal Displacement in the Philippines (The Case of Tropical Storm Washi/Sen-dong) revealed that majority of Sendong’s victims had been living in urban slums, on sand bars, along riverbanks or on unstable hillsides—all high-risk environments that the government had previously designated as ‘no-build zones.’ “Yet the combination of high poverty and a pervasive system of patronage politics, results in a situation where a large percentage of the popula-tion is forced to live in exactly these places,” he stressed. In The Making of a Fili-pino: A Story of Philippine Colonial Politics (1969), Re-nato Constantino said that patronage is “the sine qua non of political success” in the Philippines. “The patronage system forms the socio-cultural foun-dation of the current disaster management system in the Philippines, thus prohibiting a risk management ethos. As a result of patronage, deci-sions are based on electoral considerations rather than on evidence or technical assess-ments. This results in ‘under-investment in vital national-level infrastructure projects (e.g., national transportation net works and port facilities), and the concurrent resourc-

Governance...from page 1

BOC-10...from page 1

said. Outside of Mindanao, the power supply outlook is brighter, according to Aboitiz. “Except for Mindanao, we are in good shape. [The] concern of the private sector is excess power,” he said.

period, said the BOC-10 in a statement. Intelligence Group Deputy Commissioner Danilo Lim of the Bureau Customs said the ten 20-footer container vans were consigned to National Food Authority-Food and Agriculture Organization (NFA-FAO) Bubog Farmers Cooperative. Lim said the cargoes were imported under the Private Sector Financed (PSF) impor-tation through the NFA Tax Expenditure Subsidy (TES) without the accompanying import documents and permit or allocation from NFA. After submission by the importer and broker’s repre-sentative of the import docu-ments, Lim instructed the BOC-10 off icials to verify with NFA central office the authenticity and genuineness of the documents pertaining to subject importation. “We informed the Bureau of Customs that the documents subject of your query could not be found in our records, hence cannot be validated and authenticated,” said the NFA Grains and Marketing Opera-tions Department in reply to the letter of the BOC-10. “The illegal importation of rice has two tremendous impact on our economy. This is why we are vigilant in moni-toring the importation of rice since the entry of such ship-ments could mean tragic loss of income to our local farm-ers––given the low acquisition and sale of imported rice, and additional loss to our govern-ment coffer––as importation under the Private Sector Fi-nanced is tariff-free, mean-

Since it’s fueled by water, the power plant offers very low rates, thus discouraging pri-vate investors from putting up facilities that would compete with Napocor. Despite opposition by local politicians, the national gov-ernment however is angling to privatize the Agus-Pulangi, with a plan to break up the facility, thus dismantling its near-monopoly position. Also, some private inves-tors -- including Aboitiz Power Corp and Alsons Consolidated Resources Inc -- have begun putting up new plants that run either on water or coal, to address rising demand spurred by mining and other businesses. “Because of lower interest rates, we are in the position to invest long-term. Our com-pany is investing P35 billion in the next three years to ad-dress acute power situation in Mindanao,” Aboitiz said. “There is an influx of new investors, players that had not been in the sector before,” he

disasters.” Yet, “Filipinos [still] face high level of disaster risk” be-cause “poor urban governance and lack of accountability” often result in “ineffective or unenforced” codes and laws “which further expose vul-nerable settlements to floods, landslides and other hazards.” This situation further exacerbates the Philippines’ already precarious geographic location — astride both the typhoon belt and the Pacific Ring of Fire — which exposes the country to “multiple re-curring hazards such as cy-clones, f loods, earthquakes and landslides.” Adding insult to injury, the Philippines’ ecosystem is highly degraded. Plus the fact of climate change really put poor Filipinos—the most vulnerable sector—at risk, like what happened in this city on December 16, 2011 when Tropi-cal Storm Sendong poured a month’s worth of rain into the city in just 24 hours. The report, principally written by Justin Ginnetti, iDMC advisor on natural disasters, also noted that Phil-ippine laws, like Republic Act 7160 (Local Government Code of 1991) and RA 10121, mandated local government units (LGUs) to integrate DRRM into their develop-ment and sectoral plans as well as decentralized authority,

ing of micro-level projects with the most visible political impact (e.g., basketball courts whose backboards proclaim the sponsorship of a congress-man or local politician).’ This state of affairs is reinforced by the fact that local government officials or their proxies are themselves often from large and influential landowner families,” iDMC said in its report. “Patronage politics is ap-parent in Cagayan de Oro. Mayor Emano has created a local political dynasty: his son, Yevgeny, is a member of the Philippines’ House of Representatives; his daugh-ter and son-in-law are both members of the Cagayan de Oro city council; his brother is mayor of a neighbouring town, Tagoloan and other Emano relatives and proxies own local media companies. In early October 2012, an esti-mated 20,000 people marched in support of Mayor Emano’s re-election. They were alleg-edly coerced into doing so: a village chief has testified that barangay council members and all employees were urged to attend and warned that their absence would be noted,” it added. In its report, iDMC also reiterated what had been re-ported in local and national media about this city’s mayor’s accountability for what hap-pened before, during and after Sendong. “The Philippines Commis-sion on Audit found Cagay-an de Oro’s mayor, Vicente Emano, to be in violation of PDRRM-2010 for the way he established the Cagayan de Oro Disaster Risk Reduction and Management Council and appointed people to it.

To date, no action has been taken by the central govern-ment to address this. In the late 1990’s when Mayor Emano initiated a pro-poor housing scheme people were offered the right to settle in marginal areas that had been identified as unsafe for one peso.” More than 1,000 families took up the offer, many resid-ing along the banks of the Cagayan River and on sand bars and in other areas most affected by the storm.” After the disaster Mayor Emano did not implement President Aquino’s order to prevent people from returning to dangerous areas like Isla de Oro. He instead reportedly suggested ‘that residents will be allowed to return on condi-tion that there would be a more efficient evacuation system wherein if a typhoon strikes in the future, they would leave the area immediately’,” it said. These are the people who fell victims to Sendong. According to iDMC survey, 77 percent of those affected by Sendong were living be-low the poverty line prior to their displacement; and 64% are even worse off now. A follow-up survey, done just days before Typhoon Pablo hit Mindanao in December 2012, revealed that approximately half of those who lost their homes due to Sendong were displaced two or more times. “In a country where the lo-cal officials are often castrated by corruption, people cannot depend on the government. In-stead they turn to the church, to civil society groups or to each other for assistance. It is the people and these types of institutions that form the strong backbone of Filipino society,” Ginnetti said.

11Friday-SaturdayFeb. 15-9, 2013

BusinessWeek www.businessweekmindanao.com

YOUR LOCAL ONLINE BUSINESS PAPERMINDANAOCulinary Arts

Last year, we honored Mindanao’s homegrown businesses...This year, let the Investors from outside the island

who helped propel Mindanao’s economy for decades be recognized...thus,

RATIONALE OF THE PROJECT

- This is the 2nd Mindanao Business Leaders Awards, in a different category from the first one. The 1st Mindanao Busi-ness Leaders Awards was undertaken last year to give due recognition to the achievements of various Mindanao business leaders and entrepreneurs in various categories of homegrown corporate and individual business leadership achievements.

- This year’s search is aimed at giving honor and recognition of excellent business leaders in the investors’s category.

- BusinessWeek Mindanao as a forerunner of information on economic leadership and entrepreneurial achievements of non-Mindanaoan corporations and businessmen, deems it a part of its social responsibility to trumpet the achievements of these pillars of Mindanao’s economy, for others to emulate and thus propel an awareness for the business potential that Mindanao offers in every economic and business investment plan, whether small or great.

-We are helping Mindanao achieve sustainable development of its economy through these humble efforts.

MISSION & VISION OF THE AWARDS

- The holding of BWM Awards annually serves as catalyst to the ongoing efforts of business leaders and entrepreneurs who seek greater heights and strive for success in the noble mission of propelling Mindanao and its people towards full economic growth and sustainable development.

Mechanics of the Search:

Duration of the Search : January 15, 2013 to May 15, 2013Awards Night : June 1, 2013

Entry Requirements:

1. Individual and Company/Establishment nominations shall be accompanied with Nomination Forms available on-line at the Sponsors Website, offices of sponsors, or in the printed page of Businessweek Mindanao and Mindanao Daily issues or may be mailed, if requested, by the Awards Secretariat

2. Nominees or candidates in various categories shall be nomi-nated by BusinessWeek Mindanao and Mindanao Daily Bureaus; individuals, organization or groups not employed by or connected to any of the nominated person or firm .

3. Nominations shall be accompanied by the ff documents which can be mailed, or emailed to the awards secretariat - MINDANAO BUSINESS LEADERS AWARDS 2013 Secretariat, Tanleh Bldg., Abellanosa St., Cagayan de Oro City,not later than May 15, 2013.

4. Brief Resume and History of the Nominee (Individual or Firm)- Photos (at least 3) ; Nomination Form ; Documentary evidence such as certificates, awards or citations

For INQUIRIES CONTACT:

(088)856-3344, (08822)74-53-80 | 09274795196 (Allan Mediante) businessweekmindanao@gmail.com

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aRRive in sTYLe aT PRYce PLazaBy FRANkLIN MERCADO

ROOM’s promotion at the 4-star Pryce Plaza hotel in Carmen Hill, Cagayan de Oro City is now on the second month to end on March 15, 2013. Arriving foreign tourists and local clients may avail of this package which includes arrival assistance, complimentary round trip transfer from the Lumbia Airport to the hotel and Breakfast for two in the room or at Café Cagayan. Enjoy the comfort of the 28 square meter Standard Rooms at P2, 555 and the 36 square meter Superior Rooms at P3, 333. Prices ate inclusive of taxes and service charge. The ho-tel has recently refitted their rooms with new 39 inches flat screen LCD Television sets, new Queen Size Beds, Duvet comforters, Egyptian linens and free WIFI in all rooms and suites. There are many places to visit and stay in Cagayan de Oro but staying at Pryce Plaza provides outmost safety and convenience with a commanding view of the City. For reservations, please call PRYCE PLAZA at Telephone Numbers (08822) 726464 or (088) 8583131 or email us at reservations@pryce-plaza.ph and visit the hotel website at www.pryceplaza.ph

Higher property sales, better margins buoy up Ayala Land profit in 2012AYALA Land Inc on Wednesday said its net income jumped by more than a fourth in 2012 on the back of higher property sales and an improvement in margins.

integrated, master-planned, mixed-use developments,” he said. The company said last year’s sales take-up value hit P77.61 billion, for a month-ly average of P6.47 billion, which is 50 percent higher than the P4.31 billion in 2011. The real estate firm’s five residential brands -- Ayala Land Premier, Alveo, Avida, Amaia and Bella Vita -- launched 23,487 units last year. For this year, the com-pany aims to launch 31,000 units across its residential brands. “We spent a record high of over P71 billion for project and capital expenditures in 2012, a 138 percent jump year-on-year, as we aggres-sively pursued growth across our portfolio of products. The bulk of this went to land acquisitions, including that of the [Food Terminal Inc] property in Taguig,” said Ayala Land chief financial officer Jaime E. Ysmael. “For 2013, we have ear-marked another P65.5 billion primarily for the completion of ongoing developments and launch of 69 new proj-ects with a combined value of P129 billion, which will help sustain the Company’s growth trajectory over the coming years,” he said.

In a statement, the coun-try’s biggest property de-veloper said its net income increased by 27 percent to P7.14 billion last year. Rev-enues increased 23 percent to P54.54 billion, with property sales accounting for the bulk at P49.9 billion, a 21 percent increment year-on-year. Besides higher sales, Ayala Land noted margin improve-ments on the back of “strict control of project costs and direct operating expenses.” citing the increase in its net income margin before non-controlling interest improved to 19 percent last year from 18 percent in 2011.

“This is the third consecu-tive year that we achieved record growth and this is attributed to the exceptional performance of our key busi-nesses since we launched our 5-10-15 strategic plan,” said Ayala Land president Antonino T. Aquino. “We took a bold step in launching that aggressive plan in 2009 despite a highly challenging and uncertain environment, but it has paid off and we are now close to achieving our goal. We are certainly well positioned and organizationally capable of doing so, focused on our plat-form of building large-scale,