MAY 11,2012 BUSINESSWEEK MINDANAO

P15.00Issue No. 73, Volume III • May 11-13, 2012

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RC shelter buildingILIGAN City -- The construction of 385 houses for Sendong survivors at the site called “Digkilaan Red Cross Village” has started after the groundbreaking ceremony last May 8 in Barangay Digkilaan, Iligan City. The occasion was led by Iligan Mayor Lawrence Ll. Cruz and City Vice Mayor and Philippine Red Cross Governor Henry Dy, and authorities from the Red Cross and Red Cross Movement from other countries. The relocation site is a three-hectare lot situated at Purok Narra of the said Barangay and is owned by the city government.

Livelihood projectsDAVAO City -- The Department of Agriculture (DA) has earmarked multimillion funds for various livelihood projects to aid farmers, fisherfolk, women and indigenous peoples in Mindanao. The DA’s Mindanao Rural Development Program (DA-MRDP) has already spent a total of P388.25 million for its livelihood arm. While, another P345.37 mil-lion were downloaded to on-going projects and those ready for implementation; and a total of P412.30 million for those new projects under preparation by the People’s Organizations (PO) making the overall portfolio of CFAD to approximately P1.3 billion.

Air traffic upA TOTAL of 8,596 incoming and outgoing flights have been noted in the two primary local airports that cater to commercial flight operations in Region 10 last year. These airports are the Ozamiz Airport located in Barangay Labo, Ozamiz City in Misamis Occidental and the Cagayan de Oro Airport in Barangay Lumbia, Cagayan de Oro City, Misamis Oriental. “These number of flights actu-ally increased by 15.55 percent compared to 7,439 flights during the previous year,” Engr. Naga Rascal, Area Manager of the Civil Aviation Authority of the Philippines (CAAP), Region 10, said.

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RURAL TRANSIT BACHELOR EXPRESS

“First in Service, Foremost in Fleet Maintenance”

STATE-RUN National Power Corp. (Napocor) has completed the rehabilitation of the Pulangi IV hydroelectric power plant in Bukidnon on

Tuesday, or nine days ahead of the original target date of May 17.

peak hours. Unit 4 of the 255-MW Pulangui hydroelectric power plant had been shut down earlier this week to allow for repair and maintenance works. The shut down of the power plant had created a supply gap of around 120 MW in Mindanao which was already struggling with the lack of electricity and had al-ready been experiencing rotating brownouts in some areas. Repairs to Pulangui 4 worth P7.11 million had included fixing the channel where the water for the plant rushes through to the

The plant is a key hydroelectric power source as it supplies half of Mindanao’s energy needs. Napocor said it has completed the rehabilitation of Pulangui unit 4 in Bukidnon on May 8, nine days ahead of the scheduled May 17 completion. “Our plant personnel at Pu-langui 4 worked 24/7 with our

private contractor to bring the power plant back on line at the earliest possible time,” Napocor President Froilan A. Tampinco said in a statement yesterday. Since the completion of repairs, Pulangui 4 is now capable of producing 150 megawatts (MW), a capacity which is expected to increase to 250 MW during the

turbine. Pulangui, along with the 700-MW Agus power plant, provides over half of Mindanao’s power requirement. Stakeholders in Mindanao are urging the government to maintain ownership and operation of the two power plants. Malacañang supports the mixed use of power barges and hydro plants, as well as more traditional means of power generation, to achieve the power deficit of 234 megawatts in Mindanao, even as coal-fired power plants are expected to be completed by 2014

They will most likely end up like them: scavenge over truck of garbage.

Agus-Pulangui hydro earns P68-B for gov’tMINDANAO Development Au-thority Chair Luwalhati Antonino bared that state-owned Agus and Pulangui Hydro Power complex earned P68 billion or an annual average of P6 billion since 2001 but whatever net income it gener-ated was eaten up by other ‘los-ing’ government power assets in Mindanao. Antonino was reacting to the statement issued recently by Power Sector Assets and Liabilities Man-agement (PSALM) President Em-manuel Ledesma, Jr. on the reported losses of up to P15 billion between 2001 and 2011 from its operation of the government’s power assets in Mindanao. “It’s not a pure allegation that Agus and Pulangui are net income earners, but a strong position of the Mindanao power stakehold-ers backed by financial records of Napocor and PSALM,” Antonino said. Antonino said PSALM’s finan-

50 kids abandoned per month: reportA SENATE report reveals an average of 50 children are aban-doned by parents every month. This has prompted Cagayan de Oro Rep. Rufus Rodriguez

and Abante party-list Rep. Maximo Rodriguez, Jr. to introduce a mea-sure imposing higher penalties for delinquent parents. Under House Bill 1056, parents

who abandon their children face a jail term of six months and one day to 12 years and a fine of at least P50,000 but not more than

TRIPLE ZIPLINE. Camiguin’s newest at-traction, a 1,200-meter triple zipline that traverses the Taguines Lagoon in Benoni, Mahinog town. It is owned and managed by J & A Fishpen Resort and Restaurant, a popular dining restaurant with a wide fishpen just a few distance from Benoni port. PHOTO BY MARC C. ALDEA

Triple Zipline: Camiguin’s newest adventureBy JOE PALABAO, Reporter island’s rich resource of tourism-related

establishments are now making zipline experience as a come-on for adventure lovers. Last month, J & A Fishpen Resort and Restaurant nestled at the blue Taguines Lagoon in Benoni, Mahinog town has introduced its one of a kind 1,200 meters triple zipline. Flying and

ZIPLINE has now become a popular attraction in the countrysides as more resorts and mountain spring operators started to install this added backdrop to their adventure themes of having more fun and thrilling experience. Aside from the popular Dahilayan Adventure Park in Bukidnon, Camiguin

HYDRO/PAGE 5KIDS/PAGE 7

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2 BusinessWeekMINDANAOMay 11-13, 2012 EconomyEconomy

Davao del Norte launches tourism exhibitBy JEANEVIVE D. ABANGAN, Contributor

TAGUM City -- The provincial government of Davao del Norte has launched an exhibit to promote tourist attractions in the province.

the endearing world-class beaches, pristine reefs, en-chanting caves, cascading waterfalls, stunning moun-tain resorts, vast plantations, and rich cultural heritage as some of the great come-ons waiting for visitors to explore and enjoy. He invited tourists to visit the white sand beaches of the Island Garden City of Samal including the Guinness World Record bat sanctuary in the Mon-fort Bat Conservation Park

The exhibit entitled, “Beat for Summer Heat 2012,” opened on May 4 at the Abreeza Mall in Davao City. Tourist destinations, summer promotions, and products of the province were showcased in the ex-hibit which will run up to

May 22 at the mall’s activity center. With the rainy season still weeks away, governor Rodolfo P. del Rosario in-vited tourists to maximize their summer fun and have an experience of a lifetime in Davao del Norte. The governor cited

in Tambo, Babak District; and the natural caves and waterfalls of San Isidro, New Corella and Kapalong. The governor also pro-moted the vast banana plan-tations of Panabo and Sto. Tomas; the award-winning best practices of Dujali; the historic Ising Monument in Carmen; the Madgao river in Asuncion; the numer-ous events being staged by Tagum City; and, the rich cultural heritage of Talain-god, among other major attractions of the province.

In a message read by Ex-ecutive Assistant Giovanni Gulanes, del Rosario said the activity intends to, “redefine the hot summer sun and to make the weather more inviting and truly festive” to visitors. Provincial Tourism Of-ficer Noel Daquioag said the event is part of the One Summer Fun, One Davao project organized by the One Davao Tourism Officers Association (ODTOA), in cooperation with the De-partment of Tourism.

The ODTOA project started on April 14 with the aim of promoting the summer activities of the different destinations in the Davao Region. The governor further bared Davao del Norte now ventures on a tourism indus-try that is more eco-friendly and community-based, es-pecially through the recent launch of its Ugmad Komu-nidad program, which con-verged the tourism, sports and livelihood programs of the provincial government.

DA allots P1.3B for livelihood projects

By CARINA L CAYONContributor

hoods and small support infrastructure. The various livelihoods have benefitted a total of 124,816 households. With the aim to increase agricultural production and increase incomes of small farmers, CFAD component is a municipal-based fund-ing facility though which MRDP provides financing for the diverse needs and priorities expressed by poor communities. “The bottom-up ap-proach under the Program where the people’s organi-zation themselves identify and manage the project has promoted participation and transparency in governance and prompted for the em-powerment of many rural folks,” Ramos said. To date, there are already 3,712 agri-based livelihoods funded. Some 1,605 were completed, 574 are still on-going and 584 are ready for implementation and the rest are under preparatory stage. Caraga and Region 12 lead in the implementation with P235 million under its

DAVAO City -- The De-partment of Agriculture (DA) has earmarked mul-timillion funds for various livelihood projects to aid farmers, fisherfolk, women and indigenous peoples in Mindanao. The DA’s Mindanao Rural Development Program (DA-MRDP) has already spent a total of P388.25 million for its livelihood arm. While, another P345.37 million were downloaded to on-going projects and those ready for implementation; and a total of P412.30 mil-lion for those new projects under preparation by the People’s Organizations (PO) making the overall portfolio of CFAD to approximately P1.3 billion. Program director Lealyn A. Ramos, in her report to DA Secretary Proceso J. Alcala, said the Community Fund for Agricultural Devel-opment (CFAD) component spent the amount mostly in food security interventions, community managed liveli-

portfolio. Region 12 has total projects of 765 where 389 of which have been completed and turned over to POs. Th e Caraga region has a total subprojects of 689 where 356 have been com-pleted. Region 10 follows closely having accessed P232.21 mil-lion for its covered towns. The region has a total of 767 subprojects where 352 completed. ARMM has a total port-folio of 227 million for its 506 projects; Region 11 has a portfolio of P157.50 million with a total of 531 subproj-ects; and Region 9 P139.75 million for 444 projects. “Aside from the number of completed subprojects, we are also glad that we are attaining our goal to benefi t 30 percent of women and indigenous peoples,” Ramos added. In its mid-term assess-ment, CFAD has benefi ted a total of 30,913 IPs or close to 25 percent of the total benefi ciaries, while women count reaches 54,359 or close to 44 percent of the total benefi ciaries.

Water system turned-overReform (DAR) Provincial Office in Surigao del Sur has turned-over a potable water system project worth more than P1.3 million. Provincial Agrarian Reform Officer (PARO) Benjamin Mataksil said the project, which will benefit more than 700 households, is located in Barangay Adlay, Carrascal town, 72 kilome-ters north of Tandag City. He explained that under DAR’s supervision, the proj-ect will be implemented by the local government unit (LGU) of Carrascal. It was learned that since the ‘90s, Carrascal has al-ways been a recipient of multi-million peso worth of DAR-funded programs and projects. These include the P30 million Barangay Panikian Irrigation proj-ect and the P3 million per barangay farm-to-market roads (FMRs), apart from lots of livelihood projects.

TANDAG City -- The Department of Agrarian

3BusinessWeekMINDANAO

May 11-13, 2012CompaniesCompanies

PDIC reviews BDO proposal to rehabilitate Export BankBDO Unibank on Wednes-day said it submitted a pro-posal to rehabilitate the recently shuttered Export & Industry Bank, which is cur-rently under receivership. “BDO Unibank, Inc. confirms submission of a proposal for consideration of the Philippine Deposit Insurance Corp. (PDIC),” the Sy family-led bank told the stock exchange. The Philippine Daily Inquirer reported that BDO has submitted a proposal that “it is prepared to move in immediately” and take over some P14 billion in the bank’s deposit liabilities. The PDIC said it is re-viewing BDO’s proposal to rehabilitate Export Bank. However, it noted that some of BDO’s conditions are not within the scope of the PDIC’s authority. “BDO has submitted a proposal to rehabilitate EIB with certain conditions. PDIC is reviewing the legal and economic viabilities of

said proposal. Some of the conditions as proposed are not within the authority of PDIC,” it said. As receiver of Export Bank, the PDIC has 90 days

to determine a rehabilita-tion proposal that will be advantageous to depositors, creditors and taxpayers. It is sill coming up with the terms of reference, as well

as engage the services of a financial auditor to de-termine the valuation of Export Bank. Any rehabilitation pro-

Aboitiz Equity profit up in Q1 on higher power, banking gainsABOITIZ EQUITY Ventures, Inc. reported a 27% jump in its income for the first quarter over yearago levels as its core power business pulled off higher electricity sales while its banking arm enjoyed a profit surge on trad-ing gains. Aboitiz Equity’s con-solidated net income rose to P5.9 billion for January to March from the P4.6 bil-lion recorded in the same period last year, it said in a statement on Friday. Its core net income meanwhile rose by a simi-lar 28% to P5.5 billion from P4.3 billion. Aboitiz Equi-tysaw one-off gains worth P386 million “due to the revaluation of consolidated dollar-denominated loans and placements.” Subsidiary Aboitiz Power Corp. accounted for 73% of the conglomerate’s earnings. Aboitiz Power closed the first quarter with a 10% growth in its consolidated net income to P5.6 billion from P5.1 billion. Its core net income went up 9% to P5.1 billion from P4.7 bil-lion. This increase was mainly due to the higher demand for power and the 5% in-crease in its average selling price. “This was mainly attrib-utable to the higher prices

at the Wholesale Electricity Spot Market. Curtailed sup-ply due to higher average plant outages and surge in demand during the quarter led to the hike in the average price of electricity in the Luzon grid’s spot market,” the firm said in its state-ment. The company’s attrib-utable net generation for the first quarter grew 13% to 2,452 gigawatt-hours (GWh) from 2,168 GWh. Its attributable sales increase to 1,483 megawatts (MW) from 1,302 MW. Its capacity also grew 15% to 2,350 MW “due to the assumption of full ownership of and control over the 70-MW Bakun run-of-river hydro plant and the acquisition of the 242-MW Navotas power barges, the full completion of the reha-bilitation of the Ambuklao hydropower facility and completion of the 4-MW Irisan hydropower project and the partial completion of the Binga hydropower

PLDT sets up data center in CebuPHILIPPINE Long Distance Telephone Co. (PLDT) will commence operation of its third Internet data center situated in Cebu by the sec-ond quarter of the year, the

phone giant said Monday. The first facility was set up in Pasig City while the second one is in Subic. The data center will cater to the data and information

management requirements and ICT (information and communications technol-ogy) needs of businesses in the Visayas area, particularly in Cebu.

“Our Vitro data center promises stability, secu-rity, and reliability for data management needs of en-terprises and thus, allows

PDIC/PAGE 5

ABOITIZ/PAGE 5 PLDT/PAGE 5

4 BusinessWeekMINDANAOMay 11-13, 2012

On-going four (4) drainage projects located at Corrales - Velez Sections, Bitan-ag- Osmeńa Sections and Osmeńa - Corrales Sections. The four drainage projects are worth P 18.Million each and the works are fo-cused on the construction of new concrete line canal at 320 linear meters and 440 linear meters respectively.

On-going two (2) drainage projects located at Corrales- Velez Sections and Velez- Burgos Sections. The works are also focused on the construction of new concrete line canals at 442.40 linear meters and 7480 linear meters with cross drain, respectively. The project are also worth P18.Million each.

Updates of the Construction of Updates of the Construction of New Drainage System in Cagayan de Oro CityNew Drainage System in Cagayan de Oro City


May 11-13, 2012

Republic of the PhilippinesREGIONAL TRIAL COURT OF MISAMIS ORIENTAL

10th Judicial RegionBRANCH 18

Cagayan de Oro City2012-197

IN RE: PETITION FOR CORRECTION SPEC. PROC. CASE NO. 2012-057OF ENTRY IN CIVIL REGISTRY REGARDING THE GENDER OF MINOR REGIE GOMERA DUALLO,

MINOR REGIE GOMERA DUALLO REPRESENTED HEREIN BY HISFATHER, REMEGIO A. DUALLO Petitioner, -versus-THE OFFICE OF THE CITY REGISTRY OF CAGAYAN DE ORO, Respondent.x---------------------------------------------------x

ORDER

The instant Petition filed by Remegio A. Duallo, (hereafter petitioner), seeks the correction of entry in the Certificate of Live Birth of his son, Regie Gomera Duallo, vi

Gender: from “Female” to “Male”

Finding the instant Petition to be sufficient in form and substance, let the initial hearing of this case be set on August 1, 2012 at 8:30 in the morning before this Court. Let copy of this Order be published, at the expense of petitioner, once a week for three (3) successive weeks in a newspaper of general circulation in Cagayan de Oro City. Respondent Local Civil Registrar of Cagayan de Oro City and any person having or claiming any interest on the entries whose corrections are sought may, within fifteen (15) days from notice of this Order or from the last date of publica-tion thereof, file their opposition/comment thereto and appear at the scheduled hearing. Furnish copies of this Order, together with the Petition and its annexes, to the Office of the Civil Registrar of Cagayan de Oro City, the Office of the Solicitor General and the National Statistics Office, Manila. SO ORDERED. April 20, 2012. Cagayan de Oro City.

(Sgd.) DENNIS Z. ALCANTAR Presiding JudgeBWM: MAY 4, 11, & 18, 2012

PDIC...from page 3

PLDT...from page 3

rehabilitation.” Aboitiz Equity’s bank-i ng u n i t s m e anw h i l e contributed 23% of total earnings. Union Bank of the Philippines saw its income contribution to its parent firm grow by 285% to P1.2 billion. Its net interest income grew 1% to P1.8 billion from P1.7 billion. Non-interest income increased to P3.9 billion from P1.2 billion last year “driven primarily by hefty trading gains. Higher premium revenues also contributed to the significant increase in non-interest income due to the higher sales of its subsidiary’s pre-need plans.” Aboitiz Equity’s non-listed bank City Savings Bank, Inc. contributed P99 million, down 4% as its income was weighed down by an increase in operating expenses. The food unit of Aboitiz Equity, Pi lmico Foods Corp., saw its income drop by 22% to P219 million from P282 million due to “poor market condition, i.e. lower average selling price and higher input costs.

Aboitiz...from page 3

them to focus on their core businesses,” said Executive Vice President and Head of Enterprise and International and Carrier Business Eric R. Alberto. “Businesses can expect the continuity and depend-ability from these facilities as they are supported by PLDT’s unparalleled do-mestic fiber optic network in the country as well as the robust wireless connectivity of Smart,” he added. The phone giant is roll-ing out Vitro data center facilities in key areas across the country to provide busi-nesses cloud-based data and information management services. Meanwhile, PLDT Com-munications and Energy Ventures Inc. (PCEV)—for-merly Pilipino Telephone Cop. (Piltel)—posted a net income of P428 million in the first three months of the year, higher than the P213 million recorded in the same period last year. In a disclosure to the stock exchange yesterday, PCEV’s core net income stood at P517 million at end-March compared to P525 million in the first quarter of 2011. PCEV holds 50 percent of Beacon Electric Asset Holdings Inc., a special purpose company jointly owned by PCEV and Metro Pacific Investments Corp. (MPIC) whose sole purpose is to invest shares in Manila Electric Co.

posals will then be submit-ted to the PDIC Board, and later the Monetary Board, that will approve it. Negotiations between BDO and Export Bank began as early as 2009, but that petered out despite obtaining regulators’ ap-proval last year. “Our acquisition of Ex-port Bank was conditional on the settlement of certain legal issues that to this date remain outstanding. Should we be invited, we are willing to help in the rehabilitation of the bank,” BDO President Nestor Tan earlier said. Export Bank has been having financial woes for years after buying failed Urban Bank in 2001. Export Bank declared a bank holiday last month, after it informed the Bangko Sentral ng Pilipinas (BSP) that it was unable to meet its maturing obligations.

MyPhone MyParty invades BoracayMyPhone recently conclud-ed its Annual MyPhone MyParty at the famed beach of Boracay! A hugely suc-cessful event attended by thousands of sexy beach bodies last April 27, 2012 (Friday) at the beautiful Sand Bar. Action started to the beat of a Tribal Band that signi-fied the start of the Party! The event also hosted a vari-ety of musical performances from various bands that rocked the house all night! And a Boracay Beach Party wont be complete without the Best Fire Dancers Bo-racay had to offer. But the highlight of the event is the signature 1 Phone every 10 minutes raffle sponsored by the Country’s Leading Mobile Phone Brand, MyPhone. According to Richie de Quina VP for MyPhone, the MyPhone MyParty started off as a coming out party (2011 April) to announce to the local market that the MyPhone Brand has arrived and is here to stay. To differentiate ourselves from the other events in Boracay, we came up with an idea to raffle “1 Phone every 10 Minutes”! Instead of just plain party music and alcohols, we decided to come up with something original and make the revel-ers experience our products

by giving away the phones! And due to the positive feedback and demands from our partners, we decided to return and once again invade Boracay added Mr. De Quina. Whats next? MyPhone MyParty Invades Puerto Galera May 2012!

other government facilities such as coal, geothermal and diesel-fired plants which accumulated a net loss of P83 billion over an eleven-year period, resulting in an overall loss of P15.03 billion for government power assets in Mindanao. “PSALM however, failed to state that P15.03 bil-lion was not an actual loss because of what is called depreciation expenses or non-cash item amounting to P16.35 billion. Under

Hydro...from page 1

cial statement validated Mindanao stakeholders’ stand that indeed the opera-tions of Agus and Pulangui facilities had resulted in operating profits as was presented during the Min-danao Power Summit. Based on financial re-port of PSALM, Agus and Pulangui earned P68 billion net income but it was used to cover operating losses of

strict cash basis accounting policy, factoring this yields P1.32 billion real net profit,” she explained. She also cited an item on amortization totalling of P5.679 billion for the 210 MW STEAG coal-fired power plant in Misamis Ori-ental which should not be computed as part of losses since this represents capital lease amounting to P1.089 billion annually since 2007 onwards until 2032, when

HYDRO/PAGE 7

6 BusinessWeekMINDANAOMay 11-13, 2012 OpinionOpinion

Mama’s Boys

JHAN TIAFAUHURST

THINK A MINUTETHINK A MINUTE

BUNYE/PAGE 7

PED T. QUIAMJOT

TRAVERSING THETRAVERSING THETOURISM HI-WAYTOURISM HI-WAY

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Glamorous Muslim Weddings

BAÑOSPAGE 7

Context of PSALM’s alleged losses in Mindanao

THINK a minute… In 1946, the United States Army showed to the public its brand new 30-ton computer called the ENIAC. All the credit for this invention was given to 2 men, John Mauchly and J. Eckert. But it was actually a group of 6 women who programmed the computer and made this complex machine work. None of those 6 women were rec-ognized for their amazing work and achievement. Not until today, have historians showed this injustice and given these women the credit they earned. Sadly, throughout his-tory women and mothers have often not been given

the honor and recogni-tion they deserve. Yet the great French leader and conqueror, Napolean, said: “The future of a child is usually the work of the mother.” And history proves it! In fact, many of the greatest men and leaders of the world have proudly admitted that they became strong men because of their mothers’ teaching and ex-ample. They were proud to be “mama’s boys!” Some of these great men were American Presidents, including George Wash-ington, Abraham Lincoln, Teddy Roosevelt, Franklin Delano Roosevelt, Dwight D. Eisenhower, John F. Kennedy, Jimmy Carter,

and we could go on and on. George Washington, the first President of the United States said: “All that I am I owe to my mother…I credit all of my success in life to the moral and intel-lectual training I received from her.” It’s clear throughout history that women and mothers are some of the most important, powerful people in the world. Proving true the saying: “The hand that rocks the cradle is the hand that rules the world.” Jesus Christ Himself clearly showed that women are just as important to God as men. So won’t you ask your Maker to help you see and value yourself the

same way He does? Then, whether you’re a woman or a man, ask Jesus to for-give and help you change so you will start showing honor and respect to your mother, or wife, by the way you treat her. Just think a minute…

MUSLIM WEDDINGS are colorful celebrations graced by royalties and high gov-ernment officials and rich in culture. Flowing fabrics adorned grand halls and venues for this occasion. From simple to regal stately design, decors and tapes-tries transformed a place to sophistication and glamor-ous looks. More than the important ceremony, the meaning of Muslim wed-dings are weaving together of families, of two souls and two destinies and considered a very auspicious occasion. Local weddings in vari-ous Muslim provinces and cities comprising the Au-tonomous Region of Muslim Mindanao (ARMM) are coming to Cagayan de Oro City. Following their re-spective cultural traditions, the celebration of life is a sight to behold. Brides are decorated and beautified in various ways for wedding. It is normal and quiet common that gold of the

perfect karats are made as bracelets, ear rings and jewelry for the head worn over the wedding shawl are to be provided by the groom. Dowries of the most useful and elegant for the couple to start their lives are discussed by the families. Cash or gifts change hands among relatives. Hundreds if not thousands of guests goes to the wedding registry. Sometimes it could be-come a very expensive affair as large spaces or hotels are rented to accommodate such large gatherings of guests. In any Islamic receptions, the food must be permis-sible. There are no wines or champagnes to talk about since alcohol is not allowed in their gatherings. Modest with their meat prepara-tions thru rituals, fish and fowls smells of spices and herbs the scents sometimes dominating the air. Food preparations undergo the Halal ways. Halal which is the opposite of haram is

food acceptable for Muslim consumptions according to the Holy Qur’an. Weddings can a lso take place in the Bride’s or Groom’s houses. There are more conservative Muslims who avoid lavish weddings and consider the pompous ceremony as unnecessary expense. Parents prefer in-stead to pay the amount to the Bride or the Groom to help in the foundation of their family. Many newly grown up Muslims believe that for marriage to last is not the way how it is cel-ebrated but it is the way to be right and continuously share their faith. A hotel in Cagayan de Oro City, Pryce Plaza in the upper Carmen District, spe-cializes in Muslim Wedding ceremonies and receptions. The secured perimeter park-ing and lush greeneries of its surrounding of verdant trees and palms is perfect back draft to the wedding guests. A huge pillar less

Grand Ballroom compli-ments a huge reception. The staff and the wedding plan-ners can create the ultimate form of collaboration with top wedding decorators and fashion designers. Pryce Plaza was issued a Halal certification capable by the Mashala Halal Certification Board, Inc. in October 25, 2010. Wedding planners and coordinators can look for Jemimah Coreos of the Sales and Marketing De-partment of the hotel who have handled successful arrangements of the brides

THE Power Sector Assets & Liabilities Management Cor-poration (PSALM) should be more forthright with the people of Mindanao when it explains its alleged losses in operating the govern-ment’s power facilities in Mindanao. To be fair to PSALM President & CEO Mandy Ledesma, it may be the lan-guage with which PSALM’s report was couched by a national broadsheet which could mislead the greater portion Mindanao residents not familiar with the big picture. A report in a national broadsheet said PSALM in-curred losses “amounting to as much as P15 billion from 2001 to 2011 from operat-ing the government’s power facilities in Mindanao.” The report said PSALM disclosed the figures “to belie allegations that the government has been gen-erating profits from its elec-tricity sales in Mindanao, as well as to ensure the “utmost transparency to

all relevant sectors as to the actual financial position of the Mindanao plants’ operations.” Fine. At this point, the reporter should have clari-fied that the allegations of reported profits referred merely to the operations of its hydropower facili-ties, specifically the Agus and Pulangui hydroelectric complexes. In fact, later in the same report, Mandy is quoted as admitting the operation of Agus-Pulangui resulted in operating profits, and the losses from the operation of its coal, geothermal and diesel-fired plants. In this context, the com-mon contention of the peo-ple of Mindanao to stop the sale of the Agus-Pulangui complexes gains further merit. Why indeed sell off the crown jewels of Mind-anao Generation when it is earning profits for the government and get rid instead of the contracted capacities of non-hydro facilities?

To quote the very same report: the government still owns and manages the con-tracted capacities of several power facilities in Min-danao including a diesel fired power barge in Davao, Southern Philippines Power Corp.’s (SPPC) Bunker-C fired power station in Sarangani; and Western Mindanao Power Corp.’s (WMPC) diesel-fired gener-ating facility in Zamboanga City. PSALM Pres. Mandy Ledesma is further quoted as saying how the losses from these other facilities significantly exceed the revenues generated from the hydro plants, so much so that “the cost of produc-ing electricity from these facilities is more than the time-of-use rate imposed on Mindanao consumers.” Ergo, the revenues gener-ated from the hydro plants are being used to cover the operating losses from these facilities. Entonces, all the more reason not to sell them off

when they are so profit-able. Why not do something about these contracted ca-pacities instead of selling off the very institutions which are keeping them afloat? PSALM has almost fin-ished selling off the crown jewels of the former Napo-cor’s generating facilities in Luzon and the Visayas at fire sale prices and leaving it with losing dilapidated facilities which have now become an albatross around its neck. Should it continue pursuing this strategy when

MIKE BAÑOS

HAMMER & ANVILHAMMER & ANVIL


May 11-13, 2012

Quiamjot...from page 6

and grooms for these events. There are also other places in the city that out-doors wedding ceremonies can be held like the Eco-village Garden of Malasag. The setting is perfect for a celebration complete with the gongs and brass en-semble providing the beat common in many Muslim communities. The garden village has restaurants, crafts display and individual ca-sitas for hotel rooms. It is administered by the Depart-ment of Tourism of Region 10 with offices at Gregorio Pelaez Sports Ground along Velez Street in Cagayan de Oro City. During this summer season, Muslim Weddings are always welcome. It’s more fun hosting these rich colorful events.

it has already dismally failed to attain the objectives of privatization in the first place? PSALM was quoted as saying it sources capacity from the non-hydro facili-ties to meet the demand of Mindanao consumers in view of the limited and intermittent supply from the hydro plants. Mandy is further quoted as saying the capital expenditures incurred for plant main-tenance and rehabilitation have not been taken into account in the calculation

Baños...from page 6

of the plants’ operating income. These two items are re-lated: as the Napocor per-sonnel manning the hydro facilities themselves admit, the “limited and intermittent supply” is directly caused by the PSALM’s failure to pro-vide or their maintenance and rehab allegedly because PSALM’s mandate is to “sell off, rather than maintain and rehab” the remaining generation and transmission assets of Napocor. Now you, as a resident of Mindanao have these facts in their proper context, do you agree to still sell them off as some people in government

NORMIN’S underemployment highest in Mindanao

SALVADOR A. AVES, Ph.D, DM.

WHEN STATISTICS WHEN STATISTICS SPEAKSPEAK

were visibly underemployed or working for less than 40 hours during the reference week. Those working for 40 hours or more accounted for 38.8 percent. A large percentage of the underem-ployed were working in the agriculture sector (43.8%) and services sector (40.5%). The underemployed in the industry sector accounted for 15.7 percent.” What about Northern Mindanao ? Based on the Prelimi-nary Results of the January 2012 Labor Force Survey conducted by the National Statistics Office, the under-employment rate for North-ern Mindanao was posted at 26.6 percent. Though it decreased by 1.7 percentage points from 28.3 percent a year ago, it still registered as the highest among the Mindanao regions and also higher than the national figure of 18.8 percent. Some of this number of people em-ployed for less than 40 hours a week means that there is less money being brought home to pay for living ex-penses, barely enough to pay for the basic needs of the family. Underemployment is often related to marginal work, and therefore cre-ates substantial distress and

hardship to the individu-als. Most underemployed persons are living on low wages and/or in poverty and they have nothing to spare for the education of their children, leading to an increase in the number of uneducated children and those who have dropped out from school. This would then pose another problem on the labor force in the future as these children would find it hard to look for a job that would fit their qualification. As cited in an online article in the Journal of Management, “‘I Have a Job, But…’ A Review of Underemployment,” by University of Nevada, Reno Assistant Professor Frances M. McKee-Ryan and Uni-versity of Alabama Assistant Professor Jaron Harvey, underemployment brings potential detrimental effects to individuals, organizations and society. Along with the decreas-ing trend on the underem-ployment, Northern Min-danao also experienced a decline on the unem-ployment rate which was estimated at 4.3 percent, indicating 0.6 percentage point lower compared a year ago with 4.9 percent. Despite the vast develop-

ment of numerous estab-lishments and industries in the region, still some people were not able to get hold of a job. On the other hand, the labor force participation rate for the region is posted at 69.2 percent. It showed a slight increase of 0.8 per-centage point from 68.4 percent in 2011. This placed the regional employment rate at 95.7 percent, higher by 0.6 percent compared to last year’s rate of 95.1 per-cent. However, employment growth was not sufficient to reduce unemployment be-cause of population growth and increased labor force participation. Across industry groups, those employed in the ser-vices sector comprised the largest group, making up nearly half (45.1%) of the total employed persons. Employed persons en-gaged in wholesale and retail trade; repair of motor vehicles and motorcycles comprised the largest group in the services sector (17.0% of total employed). Workers in the agri-culture sector comprised the second largest group, consisting of 44.7 percent of the total employed per-sons. Only 10.2 percent of

the total employed was in the industry sector. Among the various oc-cupation groups, the labor-ers and unskilled workers comprised the largest group making up 39.6 percent of the total employed persons in January 2012. Farmers, forestry workers and fisher-men were the second largest group with 18.5 percentage share. Indeed, underemploy-ment might be a complex phenomenon that is diffi-cult to study, but if it would not be given attention, it will continue to bring more challenges that will affect the individuals and the economy.

number of underemployed workers has also increased. It has been said that “unemployment and under-employment are considered as the two difficult socio-economic problems that can cause undesirable effects on the person’s economic and social status. The easiest way to present the concept that illustrates the meaning of unemployment is when one is in a jobless condi-tion. On the other hand, underemployment refers to a condition wherein an employed individual’s work is insufficient to fulfill his needs. Moreover, employed persons who express the de-sire to have additional hours of work in their present job, or to have additional job, or to have a new job with longer working hours are considered underemployed. According to NSO Ad-ministrator Carmelita N. Ericta, “the number of un-deremployed persons in the country in January 2012 was estimated at 7.0 million placing the underemploy-ment rate at 18.8 percent. The underemployment rate in January 2011 was estimated at 19.4 percent. Fifty-nine percent of the to-tal underemployed persons

WHEN statistics start to speak and tell you that the January 2012 Labor Force Survey (LFS) results of the country registered an employment rate of 92.8 percent, which is not sig-nificantly different from the estimate reported in January 2011, which was 92.6 percent, what will be your outright reaction? In the same vein, when statistics will unfold before your eyes and show you another findings obtained from the survey that of the total employed persons in the Philippines in January 2012, 62.1 percent were working full time while 36.7 percent were part-time workers, what will be your immediate response? Such rhetorical questions might lead one to think critically and to start unty-ing the entangled thread that complicates the issue on underemployment as one brings to the fore these questions - “Who are the underemployed?” “How does underemployment dif-fer from unemployment? While unemployment has been a common topic of discussion, underem-ployment and its effects have not been given much attention, even though the

Republic of the PhilippinesREGIONAL TRIAL COURT OF LANAO DEL NORTE


Tubod, Lanao del Norte

In re: Petition for correction of entry SPL. PROC. NO. 259-07-2012 (i) in the Certificate of Live Birth of JULYBEM PARAGOYA CANO-OG - fo r - Relative to the entry of his Sex or Gender. Correction of Entry JULYBEM PARAGOYA CANO-OG, Petitioner, - versus -

LOCAL CIVIL REGISTRAR OFTUBOD, LANAO DEL NORTE, Respondent.x - - - - - - - - - - - - - - - - - - - - - - - - - - - /

O R D E R

A verified petition for correction of entry in the Certificate of Live Birth of JULYBEM PARAGOYA CANO-OG as to his gender/sex which was erroneously entered as MALE instead of FEMALE, his true sex/gender, was filed before this Court on April 13, 2012 by the herein petitioner praying among others that after notice and hearing, an Order be issued directing the Respondent to effect the corrections sought for. Petitioner alleges that he is of legal age, Filipino, and a resident of Barangay Candis, Tubod, Lanao del Norte. He was born on July 27, 1991 at Candis, Tubod, Lanao del Norte and his birth was duly registered at the Respondent’s office. However, under the entry of “Sex”, the one entered is “FEMALE” instead of “MALE”, his true and correct sex. That such erroneous entry may have been inadvertently done by the one who entered the facts of his birth. That he had never undergone sex transplant neither intends to submit for medical operation to change his sex. That he filed the instant petition to avoid confusion and to put in proper order his Certificate of Live Birth from correcting his gender/sex from FEMALE to MALE to conform to the true facts of his sex. That she filed the instant petition as pauper litigant in accordance with OCA Circular No. 121-2007. Finding the petition to be sufficient in from and substance, set the initial hearing of the case to June 18, 2012 at 8:30 in the morning before the sala of this Court. Any person/s interested to the petition may come to Court on said date and time to show cause why said petition should not be granted. Furnish copy of this Order to the office of the Solicitor General at Makati City, Office of the Provincial Prosecutor in Tubod, Lanao del Norte, office of the Local Civil Registrar in Baroy, Lanao del Norte, Public Attorney’s Office in Tubod, Lanao del Norte and to the petitioner, Julybem Paragoya Cano-og whose address is at Barangay Candis, Tubod, Lanao del Norte. The petitioner is hereby directed to publish copy of this Order to Business Week for Three (3) consecutive weeks, at his expense, to comply with the jurisdictional requirements. So Ordered. Tubod, Lanao del Norte, April 19, 2012.

(Sgd.) ALAN L. FLORES Presiding JudgeBWM: May 11, 18 & 25, 2012

and the private sector are so determined to do now? In our next column, let’s look at why these guys are so determined to sell of Agus-Pulangi and connect the Mindanao Grid to Luzon and the Visayas. (Mike Banos is a free lance writer and journalist who has been covering the energy beat for the last 12n years. He is the president of Konsumanteng Kagay-anon, Inc., a consumer welfare and advocacy group which success-fully intervened in the Energy Regulatory Commission for lower distribution rates in the Cagayan de Oro franchise area for the next four years).

earnings for rehab and repair so these can con-tinue to serve at expected generating capacities,” she stressed. T h e M i n DA c h a i r noted that if there were indeed investments made for Agus-Pulangui as PSALM declared, these plants would have been generating now at rated capacity and not at 65%. She added there would have been no supply defi-cits or rotating brownouts, but instead, reliable power and increased income for Agus-Pulangui complex. “PSALM should have been more forthright with the people of Mindanao when it explains its alleged losses in operating the gov-ernment’s power facilities in Mindanao. PSALM’s statement cunningly pre-sented half-truths by stress-ing only about losses, but not how Agus-Pulangui saved billions of govern-ment money,” Antonino said.

Hydro...from page 5the coal plant built under BOT scheme shall have been turned over to the government. Antonino further said that since the losing assets cause government severe financial bleeding then these should go first in the order of privatization. “But PSALM knows they couldn’t just do that be-cause these are locked in under medium and long term power contracts.” “If PSALM used up every centavo earned by Agus and Pulangui to subsidize said losing NPC assets, then it should have not allowed the hydro complex to deterio-rate by allocating from its huge internally generated

than P100,000. Th e current fi nes on the various violations on child abandonment range from P5,000 to P15,000. “The parents have that duty to be able to take care of their children. Th is is found in the family code. Th is is our duty,” Rodriguez said. He said: “Parents who are giving orders for their children to steal or allowing their children to be used by criminal syndicates will also be liable to six years impris-onment.”

Kids...from page 1

mountains and lush green trees are the usual sceneries. For only P400.00 one will experience zipping to its fullest and be on top of the wonders of nature. Mambajao mayor and the province’s fi rst lady Luisa D. Romualdo of Mambajao are equally proud of Camiguin’s newest attraction as this will surely boost the island’s tourism industry. She made the fi rst inaugural ride with Councilor Raquel Ranara. In his speech during the new zipline inaugural open-ing on last month, Tourism Regional Director Butch E. Chan III said his department is working a lot for the promo-tion of Camiguin’s tourism industry. He said Camiguin is the country’s window to the world as the province is is part of BIMP-EAGA Equator Asia biodiversity. Gov. Jesus Jurdin Romual-do said that more amenities will be installed in the area with the Antillon Corporation like kayaking and wakeboard-

Zipline...from page 1zipping such a distance in full view of the lagoon, the blue ocean and the mystical Mantigue Island makes it an exciting experience. Dubbed as Camiguin Triple Zipline, the new at-traction offers a different kind of exhilarating adventure which diff ers from the regular ziplines in the country where

ing within the lagoon area. He said that Tuasan and Binigaya Falls are now being developed while the prov-ince is also undergoing the development of Cloud 9 at Sitio Mitsua of Mahinog. Camiguin Zipline is owned and managed by

the Antillon Corporation who owns several resorts within the Taguines Lagoon. German Zipline Consultant Diggi Asch and wife Valerie Asch and owner of Blue Star Dive Resort in Anda, Bohol are taking charge of its Operation.

8 BusinessWeekMINDANAOMay 11-13, 2012 Metro CDOMetro CDO

FOR YOUR ADVERTISEMENTS PLACEMENTS CONTACT

Republic of the PhilippinesRegional Trial Court of Misamis Oriental

10th Judicial RegionBranch 38

Cagayan de Oro City2012-183

IN THE MATTER OF THE CHANGE OF NAME SPEC. PROC. CASE OF MINORS CULLEN RAY CABILADAS HILOT NO. 2012-051AND ABILGAIL JANE CABILADAS HILOT,

FLORIO B. HILOT AND ANNIE JANE R.CABILADAS, Petitioner, -versus-

THE LOCAL CIVIL REGISTRAR OF CAGAYANDE ORO CITY, Respondent.x------------------------------------------------------------ /

ORDER

Before this Court is a Petition for Change of Name of petitioner’s minor children Cullen Ray Cabiladas Hilot and Abigail Jane Cabiladas Hilot appear-ing in their Certificates of Live Birth recorded in the Office of the Local Civil Registrar of Cagayan de Oro City. IT IS HEREBY ORDERED that the Petition be set for hearing on Sep-tember 26, 2012 at 8:30 in the morning at the Session Hall of this Court, on which date, time and place, all persons who may have any opposition to the Petition herein sought, may appear to show cause why said Petition should not be granted. Let this Order be published in a newspaper of general circulation in the Province of Misamis Oriental once a week for three (3) consecutive weeks prior to the date of hearing. Likewise, let copies of this Order, with Petition attached, be posted by the petitioner on the bulletin boards of the Court, the City Hall of Cagayan de Oro City and the Provincial Capitol of Misamis Oriental for at least ten (10) days prior to the date of hearing. SO ORDERED. 17 April 2012, Cagayan de Oro City.

EMMANUEL P. PASAL Presiding JudgeBWM: APRIL 27, MAY 4, & 11, 2012

Republic of the Philippines REGIONAL TRIAL COURT OF MISAMIS ORIENTAL

10th Judicial Region Branch 44

lnitao, Misamis Oriental

IN THF MATTER OF THF PETITION SPFC PROC.NO. 2012-1069FOR THF CORRECTION OF ENTRYIN THF RECORD OF BIRTH AT THEOFFICE OF THE LOCAL CIVILREGISTRAR; CHANGING THE ENTRYFOR THE SEX OF THE PETITIONERFROM FEMALE TO MALE

GLENN S. MICABALO Petitioner, -versus-

THE LOCAL CIVIL REGISTRAR OF L AGUINDINGAN, MISAMIS ORIENTAL Respondentx- - - - - - - - - - - - - - - - -- - - - - - - - - - -/

ORDER

Let this case be heard on June 14, 2012 at 8:30 a.m., at this court sitting at the Hall of Justice, Poblacion, lnitao, Misamis Oiiental. The Civil Registrar concerned and any person having or claiming any interest under the certificate of live birth whose cancellation/correction is sought may, within fifteen (15) days from notice of the petition, file his or her opposition thereto. At the expense of the petitioner, let a copy of this Order be published once a week for three consecutive weeks in a newspaper of general circulation in the Province of Misamis Oriental. Further, let a copy of this Order and the petition be posted at the bulletin boards of the entrance door of this court, Hall of Justice, lnitao, Mtsamts Oriental and Municipal Hail, Laguindingan, Misamis Oriental. Finally, let a copy of the petition and this Order be furnished to the Office of the Solicitor Genera! and the Office of the Civil Registrar concerned. SO ORDERED. lnitao, Misamis Oriental, April

(Sgd.) ARTHUR L. ABUNDIENTE Acting Presiding Judge

BWM: APRIL 27, MAY 4, & 11, 2012

every 10 Minutes”! Instead of just plain party music and alcohols, we decided to come up with something original and make the revelers experience our products by giving away the phones! And due to the positive feed-back and demands from our partners, we decided to return and once again invade Boracay added Mr. De Quina. Whats next? MyPhone MyP-arty Invades Puerto Galera May 2012!

MyPhone...from page 5Phone Brand, MyPhone. According to Richie de Quina VP for MyPhone, the MyPhone MyParty started off as a com-ing out party (2011 April) to announce to the local market that the MyPhone Brand has arrived and is here to stay. To diff erentiate ourselves from the other events in Boracay, we came up with an idea to raffl e “1 Phone

Some of the participants to the World Press Freedom on May 4, 2012 forum at Xavier University.

CDO Press Freedom forum seeks positive action to decriminalize libel

TWO Xavier University alumni and a current Com-puter Studies student have been chosen to participate in two prestigious nation-al writers workshops this month. Al Gerard de la Cruz, BS Development Communica-tion major in Development Journalism class of 2009, and Eric John Villena, AB Sociology-Anthropology class of 2011, have been selected for the 11th Ateneo National Writers Workshop on May 21-25 at the At-eneo de Manila University

Al Gerard de la Cruz, BS DevCom ’09, Eric John Villena, AB Socio-Anthro ’11, and Kristen Ann Senajon, BS Information Systems – 2

XU grads, stude named writing fellows for nat’l writers workshops

sponsored by the Ateneo Institute of Literary Arts and Practices. De la Cruz and Villena will be partici-pating in the English short story category. Meanwhile, second year BS Information Systems stu-dent, Kristen Anne Senajon, will be joining the National Commission for Culture and the Arts 19th Iligan Na-tional Writers Workshop on May 14-18 at the Mindanao State University – Iligan Institute of Technology and Elena Tower Inn in Iligan City. Senajon, who is

also an actor of The Xavier Stage, XU’s very own theater company, was chosen out of 106 applicants to partake in the Sebuano Play category. As fellows, de la Cruz, Villena and Senajon will have the opportunity to learn from the wisdom of top writers, poets and play-wrights in the country, such as Palanca awardees Alexis Abola, Mikael de Lara Co, Kristian Cordero, Merlie M Alunan, Antonio R En-riquez, Leoncio P Deriada, and Steven PC Fernandez, among others, as panelists.

IN a forum held here on May 4, 2012, to celebrate World Press Freedom Day, representatives from vari-ous sectors have agreed to seek positive actions to decriminalize libel. No less than a city dad, who attended the forum, told the organizers that he will introduce an ordi-nance in the city’s council to petition lawmakers in the national level to fastrack the passage of a law that will decriminalize libel. City kagawad Aldren Bacal, himself, a former journalist, said he will soon introduce an ordinance to urge for fast action from the national level in reducing libel to a civil case from the present criminal offense. A guest speaker who talked on decriminalizing libel and its present forms, said it is also vital that jour-nalists and law enforcers understand at its simplest

meaning what libel is. Atty August Neri Jr/. a former president of the Cagayan de Oro Press Club and a prac-ticing lawyer said that the Philipines as a democratic state should always pass a law that would benefit ma-jority of the people. Citing an article on reasons why libel law must be scrapped, Neri said that “if there is a conflict of interest between the state and the majority of the people, the latter shall prevail. “In other words, any law passed by the Congress should consider the benefits of the majority… andif the majority demands informa-tion that can be given largely by means of the exercise of the liberty of the press, there is no point to hinder the practice of journalism by imposing a repressive law such as libel.” Guest speaker Atty. Neri also supported the resent pronouncement of senator

Jinggoy Estrada pushing ofr the decriminalization of libel. Estrada stressed that “…while it is the right of individuals to be pro-tected from unethical and irresponsible journalism, imprisonment is not a just penalty in such cases. Civil damages may be a sufficient penalty…” Reactors to the topic, which included journalist and editor Herbie Gomez, shared their harsh experi-ences when arrested for libel. Gomez related how he was ut to jail at the last hour of business day where it was impossible for him and colleague Joey Nacalaban to immediately post a bail. The two were put to jail for hours. PPI representative and executive editor of Mindan-ao Daily and BusinessWeek Mindanao, Allan Mediante, in an interview with a TV station during the same fo-

LIBEL/PAGE 10

de Oro City Cluster registered the highest paid-up capital stock of P339.30 million from 14 firms, followed by Bukidnon with P113.15 million from four firms and Lanao del Norte/

Investment...from page 11

This was followed by the Misamis Occidental/Ozamiz City Cluster with P13.41 million in paid-up capital from 17 firms, Lanao del Norte/Iligan City Cluster with P9.88 million from 28 firms, Bukidnon with P8.69 million from 31 f irms and Camiguin with P112,500 from two firms. Again, for the stock corporations with in-creased capital, the Mis-amis Oriental/Cagayan

Iligan City Cluster with P625,000 from one firm. No increase in capital stocks, however, was registered in the Misamis Occidental/Ozamiz City Cluster and Camiguin in 2010, Radaza added.

BusinessWeekMINDANAO May 4-6, 2012 9


10th Judicial RegionBranch 44

Initao, Misamis Oriental

REPUBLIC OF THE PHILIPPINES, Spec. Proc. No. 2007- 724Represented by the DEPARTMENT OF TRANSPORTATION AND COMMUNICATIONS (DOTC), Plaintiff, - versus - For : Cancellation of Decree

CRISANTO DOMINGUEZ and the LAND REGISTRATIONAUTHORITY (LRA), Defendants.X- - - - - - - - - - - - - - - - - - - - - - - - /

SUMMONS BY PUBLICATIONTO: Crisanto Dominguez Alubijid, Misamis Oriental

GREETINGS !

This Court issued an Order dated March 08, 2012 allowing Summons be served upon Crisanto Dominguez in a newspaper of general circulation. It is pursuant thereto that this Summons by Publication is issued.

WHEREAS, quoted hereunder is the Complaint, to wit .

1. Plaintiff Republic of the Philippines is a sovereign political entity vested with power and capacity to sue. For purposes of this action, all pleadings, notices and other court pro-cesses may be served on its statutory counsel, the Office of the Solicitor General (OSG) at 134 Amorsolo Street, Legaspi Village, Makati City.

2. Defendant Crisanto Dominguez is of legal age, with capacity to sue and be sued, and a resident of Alubijid, Misamis Oriental, where he may be served with summons and other court processes.

3. Defendant Land Registration Authority (LRA) is impleaded being the agency mandated to issue decrees of registration and certificates of title and register- documents, patents and other land transactions. It may be served with summons and other court processes at the LRA, East Avenue cor. MA Road, Quezon City.

4. Defendant Dominguez appeared to be the owner of a parcel of land located in Alubijid, Municipality of Laguindingan, Misamis Oriental designated as Lot No. 12447, Cadastral No 237 with an area of forty seven, thousand nine hundred seventeen (47,917) square meters.

5. Based on the record of the Department of Environment and Natural Resources - Land Management Services (DENR-LMS) in Cagayan de Ore City, the Bureau of Lands con-ducted a cadastral survey of the subject Lot sometime in 1933 (annex “A”).

6. Thereafter, the said land was among those subject of the operation of cadastral proceed-ings and was issued on September 01, 1941 Decree No. 756524 in Cadastral Case No. 27 ( Annex “B”). After its issuance, Decree No. 756524 was then recorded by defendant LPA in its book

7. The record of the Registry of Deeds of Cagayan de Oro City would reveal however that no title to Lot 12447 was issued in favor of defendant (Annex “C”).

8. Considering that the Decree was issued in 1941, it has been note than sixty-five (65) years that the property remained untitled.

9. In Republic vs. Hon. Alon ,1 citing Republic vs. Heirs of Villa Abrille2 The Supreme Court held that in land registration proceedings the following procedure must be complied with

xxx(10) Issuance of the decree by the Court declaring the decision final and instruct-

ing the Land Registration Commission to issue a decree of confirmation and registration,

(11) Entry of the decree of registration in the Land Registration Commission;(12) Sending of copy of the decree of registration to the corresponding Register

of Deeds and(13) Transcription of the decree of registration in the registration book and the

issuance of the owners duplicate original certificate of title to the applicant by the Register of Deeds upon payment of the pre scribed fees.

10. Indeed, a property becomes registered land only upon transcription of the decree in the original registration book of the Register of Deeds. It follows that until the original certificate of title is issued by the Register of Deeds, the property subject, of a cadastral proceedings not yet a registered land.

11. A Torrens Certificate of Title is the best evidence of ownership issued by the Register of Deeds to the owner of a particular land which is registered under the Torrens system of registration.3 The significance of registration under the Torrens system cannot be undermined in Traders Royal Bank vs. Court of Appeals.4 the Supreme Court reiterates the importance of registration:

The main purpose of the Torrens system is to avoid possible con-flicts of title to real estate and to facilitate transactions relative hereto by giving the public the right to rely upon the face of the Torrens certificate of title and to dispense with the need of inspiring further except when the party concerned has actual knowledge of facts gad circumstances that should impel a reasonably cautious man to make such further inquiry. Where innocent third persons relying on the correctness of the certificate of title thus issued, acquire rights over the property, the court cannot disregard such rights and order the total cancellation of the certificate. The effect of such an. outright cancellation would be to impair public confidence in the certificate of title, for everyone dealing with the property registered under the Torrent system would have to inquire in every instance as to whether the title has been regularly or irregularly issued by the court. Every person dealing with registered land may safely rely on the correctness of the certificate of title issued therefor and the law will is no way oblige him to go beyond the certificate to determine the condition of the property.

The Torrens system was adopted in this country because it was believed to be the most effective measure to guarantee the integrity of land titles and to protect their indefensibility once the claim of ownership is established and recognized. If a person purchase a piece of land on the assurance that the seller’s title thereto is valid, he should not run the risk of being told late that his acquisition was ineffectual after all. This would not only be unfair to him. What is worse is that if this were permitted, public confidence in the system would be eroded and land transaction would have to be attended by complicated and not neces-sarily conclusive investigations and proof of ownership. The further

consequence would be that land conflicts could be even more numerous and complex than they are now and possibly are more abrasive, if not even violent. The Government, recognize the worthy purposes of the Torrens system should be the first to accept the validity of titles issued thereunder once the conditions laid down by the law are satisfied.

12. In the present case, although defendant Dominguez did obtain a decree in his favor, his failure to obtain his certificate after the lapse of more that 65 years is tantamount to an abandonment of such right. For which reason, the principle of laches operates against him.

13. Laches has been defined in the failure or neglect, for an unreasonable length of time to do that which by exercising due diligence could or should have been done earlier. It is negligence or omission to assert a right within a reasonable time, warranting a presumption that the party entitled to assert it has either abandoned it or declined to assert it.

PRAYER WHEREFORE, respectively prayed of this Honorable Court that an order be issued CAN-CELLING Decree No. 756524 and, accordingly, directing the LRA to CANCEL Decree 756524 issued for Lot No. 12447 in Cadastral Case No. 27 for having lost its efficacy due to abandon-ment of laches Plaintiff further prays for such other rebels and remedies which are just and equitable in the premises. RESPECTFULLY SUBMITTED Makati City for Initao, Misamis Oriental, December 3, 2007.

AGNES YSI DEVANADERA Solicitor General Roll No. 26872 IBP Lifetime Roll No. 05084

AMPARO M. CABOTAJE-TANG Assistant Solicitor General (Officer-In-Charge) Roll No. 29990 IEP Lifetime Roll No. 03505

MA. ANTONIA EDIT A C. D1ZON Assistant Solicitor General Roll No.33774 IBP No.702421,1-10-07

THOMAS M. LARAGAN Senior Solicitor General Roll No.38842 IBP No. 702423, 1/10/07

MERCEDITA L. FLORES Associate Solicitor Roll No 52391 IBP No. 702426,1-10-07

OFFICE OF THE SOLICITOR GENERAL 134 Amorsolo St, Legaspi Village Makati City

VERIFICATION AND CERTIFICATIONOF NON-FORUM SHOPPING

I, MERCEDITA L. FLORES, an Associate Solicitor in the Office of the Solicitor General, after having been sworn in accordance with law, hereby depose and state: 1. I have caused the preparation of the foregoing complaint. 2. I have read and understood the contents thereof 3. The allegations therein are true and correct of my personal knowledge or based on authentic records. 4. I/Plaintiff has not commenced any action or filed any claim involving the same issues in this Honorable Court, the court of Appeals, the Supreme Court, or different divisions thereof, or in any other tribunal or agency, and if I/plaintiff should thereafter learn that a similar action or proceeding has been filed or is pending before this Honorable Court, the Court of Appeals the Supreme Court, or different divisions thereof , or in any other tribunal or agency, I/plaintiff shall undertake to promptly inform the aforesaid courts and other tribunal or agency of that fact within five (5) days therefrom. 5. The foregoing Verification and Certification of Non-Forum Shopping is being made by the use through the undersigned affiant, pursuant to Section 32, P27, Chapter 12, Title III, Book IV of the Administrative Code of 1987 which provides that the OSG “shall represent the Government in all land registration and related proceedings.” Thus, it was ruled in COMELEC v. Quijano-Padilla, 389 SCRA 353 (2002) that the OSG is an independent office and that its real client is “no less than the Republic of the Philippines in whom the plenum of sovereignty resides”.

MERCEDITA L. FLORES Affiant

SUBSCRIBED AND SWORN TO before me this 3rd day of December, 2007, in Makati City by Associate Solicitor Mercedita L. Flores, personally known to me, who is the same person who personally signed before me the foregoing Verification and Certification and acknowledged that she executed the same.

MA. HAZEL VALDEZ-ACANTILADO Senior State Solicitor

NOW THEREFORE, through this Summons by Publication, Severino Bongo of Alubijid, Misamis Oriental is hereby required to answer the Complaint within sixty (60) days from the last issue of publication.

SO ORDERED

WITNESS the HON. ARTHUR L. ABUNDIENTE, Acting Presiding Judge of this court, this 16th day of March, 2012 at Initao, Misamis Oriental.

(Sgd.) ATTY. IAN C. TAJONERA-BERNARDO Clerk of Court VI

__________________________________1 199 SCRA 396 (1991)2 71 SCRA 57, 57-58 (1976)3 Land Title and Deeds Gregorio G. Bilog Jr. p10 (2005)4 315 SCRA 190, 201-202 (1999)5 Sps. Rumarate; et. al. vs. Hernandez; et. al.; 487 SCRA 317, 321 (2006)

BWM: April 27, May 4 & 11, 2012

10 BusinessWeekMINDANAOMay 11-13, 2012 Congress.WatchCongress.Watch

REPUBLIC OF THE PHILIPPINESREGIONAL TRIAL COURT10TH JUDICIAL REGION

BRANCH 28MAMBAJAO, CAMIGUIN

In the matter of Petition for Declaration of SPL. PROC. NO. 453Absence of Murrey Maynard Roque FOR: Declaration of Absence

CIRILA L. GRIFFING-ROQUE, Petitioner,X--------------------------------------------------------/

ORDER

In her verified petition, CIRILA L. GRIFFING-ROQUE, thru counsel, states that she is 33 years old, Filipina, married, a licensed Registered Nurse and a permanent resident of Hubangon, Mahinog, Camiguin; that on November 8, 2001 she got married to Murrey Maynard Roque before Honorable Jose M. Galario, Jr., then Mayor of Valencia City, Bukidnon; that their marriage was blessed with two (twin) male kids Kert Ice Griffing Roque and Kurt Ice Griffing Roque who were born on June 22, 2002; that their relationship was dotted with frequent quarrels which made her suffered at the hands of her husband who turned violent until one day in November 2003 she was physi-cally manhandled and castigated that her husband left their conjugal dwelling in Valencia City which prompted her to travel home with her two kids back to Hubangon, Mahinog, Camiguin where her parents are residing; that on March 10, 2004 before she left for the Kingdom of Saudi Arabia to work as Nurse in the Medical and Surgical Department of Sharurah Armed Forces Hospital she visited her husband in Valencia City and was told that it was good of her to find a job overseas and for a parting word her husband told her to just forget everything about the two of them; that was the last time that they saw each other; that on March 14, 2004 in order to support her children petitioner finally took her flight to Saudi Arabia for overseas employment; that while working abroad and even on her frequent vacations home she dialed her husband’s cellphone number but all of her attempted calls were blunted by the computerized answer “the number you have dialed is not in service right now” that during her most recent vacation (this March 2012) she personally went to Valencia City in the hope of finding her husband but he was nowhere to be found as he had long left ostensibly for Davao City; that after the lapse of time, eight (8) years plus, without communication between them and her husband’s parting words had taken its toll on petitioner’s senses which led her to finally resolve to take and tread this lonely road to have her husband’s absence judicially declared and have him presumed dead for all intendments of the law applicable in the premises; hence, this petition. Finding the said petition sufficient in form and substance, the same is hereby set for hearing on June 14, 2012 to start at 8:30 o’clock in the morn-ing, at which hearing any interested person may show cause why the petition should not be granted. Let copy of this Order be published in any newspaper of general circulation in the Province of Camiguin and whole of Mindanao once a week for three (3) consecutive weeks prior to the date of hearing at petitioner’s expense. SO ORDERED. Done in Mambajao, Camiguin, Philippines, this 22nd day of March 2012.

RUSTICO D. PADERANGA JudgeBWM: APRIL 27, MAY 4, & 11, 2012

Republic of the PhilippinesREGIONAL TRIAL COURT


Mambajao, Camiguin

IN RE: PETITION FOR CORRECTION IN THE PL. PROC. NO. 455IN THE ERRONEOUS ENTRY OF SEX IN THECERTIFICATE OF LIVE BIRTH OF JEZZY RHEAB. DAVID FROM MALE TO FEMALE,

JEZZY RHEA B. DAVID, rep. by her mother JELYN B. DAVID, Petitioner, -versus-

THE LOCAL CIVIL REGISTRAR OF MAMBAJAO,PROVINCE OF CAMIGUIN, Respondent.x------------------------------------------------------------- /

ORDER

Petitioner, is a minor (13 years old) represented by her mother Jelyn Bangkil David of legal age, Filipino, married to Fabio B. David, Jr. and resi-dent of Alga, Catarman, Camiguin, thru counsel, avers, that she was born on December 28, 1998 at Yumbing, Mambajao, Camiguin to Spouses Jelyn B. Bangkil and Fabio B. David, Jr. whose birth was duly recorded in the Office of the Local Civl Registrar of Mambajao, Camiguin as shown in the machine copy of her Certificate of Live Birth but which birth record erroneously recorded her Sex as Male when in fact and in truth she is a FEMALE, as shown in the Medical Certificate issued by Medical Officer III Salem L. Matonding, M.D. dated April 2, 2012 with findings “GROSSLY FEMALE”. In order to correct such erroneous entry this petition is filed. The petition being sufficient in form and substance is hereby set for hearing in this Court’s Session Hall on May 25, 2012 to start at 8:30 o’clock in the morning. Let copy of this Order and of the petition and its annexes be sent to each of the following: Office of the Solicitor General; Office of the Local Civil Registrar of Mambajao, Camiguin and the Office of the Provincial Prosecutor of Camiguin. A copy of this Order is required to be published at petitioner’s expense in any newspaper of general circulation in the Province of Camiguin once a week for three consecutive weeks prior to the date of hearing. Any person or entity whose interest might be adversely affected by the proceedings in this case may file written opposition and personally appear during the hearing and substantiate the same. SO ORDERED. Done in Mambajao, Camiguin, this 16th day of April 2012.

RUSTICO D. PADERANGA Judge

BWM: APRIL 27, MAY 4, & 11, 2012


10th Judicial RegionCagayan de Oro City

2012-168OFFICE OF THE PROVINCIAL SHERIFF

NOTICE OF EXTRA-JUDICIAL SALEFile No. 2012-091

Upon extra-judicial petition for sale under Act No. 3135 as amended, filed by NATIONAL HOME MORTGAGE FINANCE CORP., Cagayan de Oro City, as mortgagee, against PRECILA B. DE LA CERNA, married to Joel de la Cerna, a resident of Blk. 01, Lot 33, Villa Trinitas Subd., Bugo, Cagayan de Oro City as mortgagor, which as of March 15, 2012 amounts to NINE HUNDRED THIRTY TWO THOUSAND EIGHT HUNDRED SIXTY FOUR PESOS & 73/100 (Php 932,864.73), the undersigned will sell at public auction on May 25, 2012, at 10:00 o’clock in the morning or soon thereafter at the main entrance of the Office of the Clerk of Court, Regional Trial Court, Hall of Justice, Cagayan de Oro City, to the highest bidder for cash or manager’s check and in Philippine Currency, the following property with all the improvements found thereon, described as follows:

TCT NO. T-89953

“A PARCEL OF LAND (Lot 33, Block 1, Psd-104305-015867, being a portion of Lot 2, (LRC) Psd-157430) situated in the Barrio of Bugo, City of Cagayan de Oro, Island of Mindanao. Containing an area of ONE HUNDRED FORTY (140) square meters, more or less.”

All sealed bids must be submitted to the undersigned on the above stated date, time and place. In the event the auction date falls on a holiday, 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, April 17, 2012.

FOR THE EX-OFFICIO PROVINCIAL SHERIFF

BY:

MA. TERESITA QUIBLAT-INSO Sheriff IVBWM: APRIL 27, MAY 4, & 11, 2012

More solons back postponement of barangay pollsTHE call to reset the October 2013 Barangay and Sangguniang Kabataan polls is gaining ground as lawmakers file separate bills for its postponement to varying dates.

years thereafter. Likewise, Rep. Rachel Marguerite Del Mar (1st District, Cebu) filed House Bill 5750 resetting the Ba-rangay and SK polls to the last Monday of October 2014 and every three years thereafter. A sparate measure, House Bill 5962, authored by Reps. Guillermo Romarate, Jr. (2nd Dist., Surigao del Norte), Francisco Matugas (1st Dis-trict, Surigao del Norte), Philip Pichay (1st District, Surigao del Sur), Florencio Garay (2nd District, Surigao del Sur), Evelyn Mellana (2nd District, Agusan del Sur), Ma. Valentina Plaza (1st District, Agusan del Sur), Ma. Angelica Amante-Matba (2nd District, Agusan del Norte) and Jose S. Aquino II (1st District, Agusan del Norte), calls for the resetting of the October 2013 polls to the second Monday of May 2015. Reps. Rufus Rodriguez

The latest to seek such postponement of the polls is Rep. Jerry Treñas (Lone District, Iloilo City) who filed HB 6005 resetting the elections to the last Monday of October 2015, which is five years after the last barangay polls. Treñas, Chairman of the House Committee on Good government and Public Ac-countability, took notice of a Supreme Court comment in the case of Occeña vs. Comelec that there are good reasons for insulating the Barangay from the divisive and debilitating effects of a partisan political campaign, as the barangay Captain and the Barangay Council also act as agencies for neutral community actions such as distribution of basic neces-sities, conducting plebiscites

and settling local disputes. Treñas said the High Tribunal was right when it noted that “it would defi-nitely enhance the objective and impartial discharge of their duties for barangay officials to be shielded from political loyalty.” Rep. Augusto Syjuco (2nd District, Iloilo) authored House Bill 5987, which seeks to reset the barangay and SK elections from October 29, 2013 to October 27, 2014. Syjuco’s bill also proposes that the term of office of all barangay and SK officials should be five years instead of the current three years. E a r l i e r, R e p . B e n Evardone (Lone District, Eastern Samar) filed House Bill 5794 that resets the barangay and SK polls to May 2014 and every four

(2nd District, Cagayan de Oro City) and Maximo Ro-driguez Jr. (Partylist, Abante-Mindanao) also proposed the resetting of the said elections to the last Monday of October 2015. “For a country whose budget defi cit was estimated by the President to reach a record high of P349-billion by the end of the year, P3.6-billion (spent in 2010) is too high a price to spend on ba-rangay elections,” Rodriguez said. Rodriguez noted that elections in the Philippines are always a costly exercise, both for the candidate and the government. As sched-uled, the next Barangay and SK elections shall be held fi ve months aft er the 2013 senatorial and local elections. “It could be a safe bet to state that the upcom-ing 2013 barangay elections could top the 2010 spent for the barangay polls, which amount could be better spent

for other government proj-ects like construction of bridges, roads and other infrastructure projects, and even school buildings,” Ro-driguez said. “Elections, whether na-tional, local or barangay, prove to be divisive among the populace specially com-ing from the heels of the very divisive May 10, 2010 polls,” Rodriguez added. Rodriguez surmised that the three year term of barangay offi cials is too short a time for the unity and stability in barangay

leadership and aff airs. “Th ree years is not enough to ensure that the programs of the barangay are carried out properly considering the fact that it cannot be denied that the last year of the term is basically used for campaigning,” Rodriguez said. A two-year extension would therefore be in order to ensure stability in the barangay level so that the programs initiated by the current leaders would come to fruition, according to Rodriguez.

House panel approves amended tax measureTHE House of Represen-tatives on Wednesday ap-proved a measure that seeks to raise the taxes for tobacco and alcohol products. Voting 46 for and 14 against, the House Ways and Means panel passed House Bill 5727 or the Re-structuring of Excise Taxes on Tobacco and Alcohol after its principal author, Rep. Joseph Abaya of Cavite province, agreed to adopt the amendments proposed by the Department of Fi-nance. Under the amended measure, cigarette tax will be two-tiered instead of the unitary scheme proposed by Abaya. On the other hand, the taxation for distilled spirits and fermented liquor

will be three-tiered. During the first year of its implementation, the price of a cigarette pack costing P11.50 and below will in-crease by P12. Cigarettes priced higher than P11.50 will have a tax of P28.30. Meanwhile, the price of liquor or beer will increase by P15.49 if it is priced P50 and below. However, if the liquor costs P50 or above, the levy will be P20.57. “These amendments were proposed because we rec-ognize the concern of all sectors and we want to be responsive to the industries [which will be affected],” Finance Undersecretary Jeremias Paul told reporters. With the amendments, the Finance department

expects the tax measure to generate P33 billion in revenues, down from the original P60 billion. “This measure will give us incremental revenues that will fund our universal health program. We will make sure that 15 percent of the incremental revenues will go to the farmers,” Paul said. In a position paper sub-mitted to the Ways and

Means panel, the Distilled Spirits Association of the Philippines (DSAP) argued that the Abaya measure would not generate revenues for the government consid-ering that 91.3 percent of alcohol consumers belong to classes D and E. “With this measure, the government will lose their market,” the DSAP said. Representatives Rufus Rodriguez of Cagayan de

Oro City and Mitos Mag-saysay of Zambales province tried to postpone the voting of the tax measure, saying that another consultation should be made concerning the amendments proposed by the Department of Fi-nance. Malacanang welcomed the passage of the tax bill, saying that credit rating agencies will have no more reason to deny the Philip-pines a better investment grade status.

“Based on their commit-ment that if they see the sin tax reform bill passed, then there should be no reason for them not to give us invest-ment grade status,” Palace spokesman Edwin Lacierda said. “We expect them to live up to their promise that the will give us investment grade status if we pass the sin tax reform bill,” he added. Presently, the Philippines has a BB+ rating from Fitch

HOUSE/PAGE 11


May 11-13, 2012

By: MR. JOLITO GENABE BASLAN(Principal 1)

THE Department of Education (DepEd) in Region 10 recently conducted its Brigada Eskwela or the National School Maintenance Week on May 21-26, 2012. The weeklong event aims to encourage lo-cal communities, civic organizations (GO’s/NGO’s) and parents to volunteer time to do minor repairs of school facilities to prepare the school for the opening of the school year. All these volunteers armed with brooms, hammers, paintbrushes, bolos, sacks, and other cleaning materials. In Tiganapoloan Elementary School, the activities included cleaning of classrooms, school grounds, garden orchidarium, repair of ceilings, chairs, desks, windows and doors and some other things that need to be fixed. The teaching staff and the PTA officers/members, PAF-TOG Group based in Lumbia Airport, and the Barangay Council made possible all these improvements. This week is also scheduled for enrolment from Pre-School up to Grade VI. After do-ing some cleaning and repairs, the parents enrolled their children on their respective grade level. Our warm and heartfelt thanks to all who helped us maintain and improve the school facilities.

Tignapoloan conducts

Brigada Eskwela

has a BB from Standard & Poor’s and a Ba2 rating from Moody’s Investors Service. “Th e bill is a priority mea-sure of the administration

House...from page 10Ratings, one level shy of investment grade. It also

that has hurdled a signifi cant step in the legislative process,” Lacierda said. “We look forward to the legislative deliberations in

plenary where we hope the majority of Congress repre-sentatives will stand alongside their colleagues who support fi scal reform,” he added.

Globe records decline in first-quarter net income

GLOBE TELECOM, Inc.’s core net income fell by 7% to P2.74 billion in the fi rst quarter from year-ago lev-els due to higher expenses, mirroring a similar drop recorded by its rival. Th is, even as the com-pany’s revenue stood at P20.2 billion at end-March, up by 6% from P19.1 billion a year ago. Revenues from its mobile business increased by 6% year-on-year to P16.6 billion from P15.6 billion. “Cumulative mobile sub-

scriber base as of end-March stood at over 31 million, up 14% from the same period last year,” the company said. Broadband revenues, meanwhile, rose faster than the mobile segment. Sales grew by 13% to P2.0 billion from P1.8 billion in the fi rst quarter “amid the strong take-up of promo off erings.” “Total subscriber base reached almost 1.5 million by end of March, 26% above last year with wireless customers comprising about 80% of the total from 78% a year ago,”

Globe Telecom said. But the company’s ex-penses and other subsidies rose by 16% to P11.56 billion from last year’s P10.09 bil-lion, whittling down gains. “Globe Telecom reinvest-ed part of its revenue gains in additional marketing and subsidy spending in order to acquire new subscribers, recontract open postpaid customers, and defend its market position through various brand-building ini-tiatives,” the company said. Globe Telecom also said

that the fi rst-quarter results also refl ected continued in-vestments in network infra-structure upgrade, including charges related to massive network modernization and IT transformation programs, the company said. Globe Telecom in Febru-ary signed an agreement with Huawei Technologies Philip-pines, Inc. and Alcatel-Lucent for a $790-million network modernization program, which would involve the replacement of the company’s network infrastructure.

SEC-registered investments in Region 10 up 73.93% in 2011By RUTCHIE C. AGUHOB

Contributorby seven firms or 2.5 percent compared to 326 firms dur-ing the previous year, Atty. Renato V. Egypto, Regional Director, SEC-10, said. About 314 of these firms or 94.29 percent were new registrations of stock cor-porations and partnerships, while the other 19 firms or 5.71 percent were stock cor-porations which expanded or increased their capital stock.

A TOTAL paid-up capital of P734.74 million from 333 firms have been registered by the Securities and Ex-change Commission (SEC), Region 10 last year. This amount of paid-up capital was actually high-er by P534.74 million or 73.93 percent compared to P191.54 million, and higher

Meanwhile, the paid-up capital of the new registra-tions amounted to P281.66 million, posting an increase of 233.33 percent compared to P87.11 million in 2010, Jesher M. Radaza, Securities Specialist II of SEC-10 said. Likewise, the paid-up capital of the stock cor-porations, which had in-creased their capital stocks to P453.08 million, was higher by 333.84 percent

compared to P104.43 mil-lion, also in 2010. For the new registra-tions, the year-end data of SEC-10 show that of the five provinces/areas where these firms are located, the Misamis Oriental/Cagayan de Oro City Cluster regis-tered the biggest paid-up capital of P249.57 million and the biggest number of 236 firms.

INVESTMENT/PAGE 8

MAY 11,2012 BUSINESSWEEK MINDANAO

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