“Radiating positivity, creating connectivity”

CEBU February 24 - March 1, 2020 P15.00 BUSINESSVolume 2 Series 23 12 PAGES

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expanded it to 5-year courses to include civil engineering and accountancy, among others. The hospital is operating 24 hours a day, with one doctor, four nurses and utility personnel per shift. Val ripe for The medicine is free. On peace and order, Chiong said the police reported to him that they have a successful drive against illegal drugs. They are helping about 30 persons with illegal drug cases House seat who will enter into plea bargaining. The doctors from the If Gullas will not run or split 1st district are helping them on this matter. Naga City Mayor district once he returns to the handily won over his than 500 professionals from He said the Philippine Valdemar ‘Val’ Chiong district. opponent. Kristine slid down the City of Naga because of Drug Enforcement Agency recently announced his However, the young as his running mate and won. the scholarship program. (PDEA) 7 talked to him and resignation effective March Gullas might just opt to When Chiong assumed When Chiong was the mayor, informed him that there 16, 2020. But he might remain as Talisay City mayor office in 2007, the annualhe started the scholarship are now four City of Naga return to politics once the and pave the way for Chiong budget of the city was P65 program for 4-year courses. barangays that are drug-free. province’s 1st Congressional to divide the district. million. This has increased But Kristine Vanessa Elias O. Baquero District is divided into two. Chiong said the first district to P100 million in 2011 and Mayor Chiong is is ripe for division because about P900 million when referring to the plan to create its population is about his term ended in 2016. For a new congressional district 500,000. The second district 2020, the annual budget is from the first district nowwas divided with a lower more than P1 billion broken represented by Rep. Eduardo population. down as Internal Revenue R. Gullas. Nevertheless, the Allotment (IRA) of about The new district will be incumbent congressman P500 million, and local carved out of the Cities of Eddie Gullas who is already income of P500 million. Naga and along with 94 might just decide to divide “The annual income is the two towns San Fernando the district as his legacy. consistently increasing every and Sibonga. He has already created three year,” Chiong said. District constituents find cities. He might leave behind The 58-year old chief Chiong ripe for a congressioal as his greatest achievement a executive said he is grateful seat. congressional district. to the support of the majority Chiong said he may go Chiong tendered of the people, entire city back to public service to his resignation to Gov. council, all village chiefs of become a congressman of the Gwendolyn Garcia effective 28 barangays, 95 percent of new district. A Gullas – either March 16, 2020. He will be barangay councilors, teachers, incumbent Eddie Gullas or succeeded by his daughter, and other professionals. Mayor Gerard Gullas -- will Vice Mayor Kristine Chiong. “That is the reason why be congressman of the first Chiong became mayor the economy of the City of district to be composed of the in 2007 when his brother, Naga is rapidly growing, City of Talisay and the town Ferdinand died in office.and more investors are of . When his term ended on coming in. We have built According to Chiong, June 30, 2016. Kristine more schools, an infirmary former congressman and Vanessa ran for mayor in his hospital, subsidized scholars, incumbent Talisay City behalf and won. and many more,” Chiong Mayor Gerard Gullas Last May 2019, Chiong said. promised to divide the ran again for mayor and There are now more Naga City Mayor Valdemar ‘Val’ Chiong 2 February 24 - March 1, 2020 Cebu Business Week LOCAL LGUs to get bigger IRA, says Labella Mayor Edgar Labella said Local Government Units (LGUs) can expect bigger shares from the National Government begining this year in connection with the order of the Supreme Court. Labella said Governor HermilandoMandanas of Batangas filed a case before the High Tribunal questioning why LGUs received only a small portion of the Internal Revenue Allotment (IRA) instead the usual 40 percent for LGU and 60 percent of the National Government. Mandanas argued that the LGUs must receive not only the income from the Bureau of Internal Revenue (BIR) but from other government agencies like Bureau of Customs (BOC) and all other income of government. Labella said that during the computation, if BOC income and all other taxes will be included in the IRA, the National Government owes to the LGUs the total amount of P600 billion. “If this total amount Cebu City Mayor Edgar Labella (middle) and Regional Development Council (RDC) Co-Chair Kenneth Cobonpue (right) listen to the briefing of Cebu Chamber of Commerce and Industry will be given outright, the (CCCI( President Virgilio “Nonoy” Espeleta.Businessman Virgilio “Nonoy” Espeleta. Photo/Elias O. Baquero National Budget will become imbalance. So, we have a proposal as compromise that of P2.5 billion. and Highways (DPWH), will come from whatever the chairman of the League the P600 billion shall not be “With that, so LGUs Department of Education shares they are entitled from of Governors, Masbate Gov. given at once,” Labella said. which are IRA dependent can (DepEd) and the Department the Mandanas case in the Antonio Kho. He said that first, the avail of the Supreme Court of Health (DOH). P600 billion. “President Rodrigo National Government shall decision on the Mandanas On the other hand, we The team who negotiated Duterte listen to us together give to all LGUs outright the case as compromise. Give are negotiating with Land it include Labella as chairman with Deparrtment of amount of P50 billion from them initially the road-users Bank of the Philippinmes of the National League of Budget and Management road-users tax. tax in the amount of P50 to provide loans to LGUs, Cities in the (DBM) Wendell Albensado, Several LGUs are relying billion,” Labella said. payable in 2022 at four (LCP), LCP president, and Department of Finance on IRA. Cebu City will survive Aside from that, other percent per annum. This president of the Leagbue (DOF) Secretary Paul without IRA. However, we functions will be devolved like means the LGUs can avail of of Governors, Marinduqe Dominguez and the director have big IRA in the amount Department of Public Works loans, and the amortization Governor Lord Velasco , and of Land Bank. Alegado: JICA helped with Mega Cebu

Consolacion, Cebu Vice Mega Cebu received the JICA made the feasibility and initiatives of National Supreme Court saying that Mayor Teresa Alegado said money when its founder, study for the entire Province Government Agencies to while the Local Government Japan International Agency Businessman Bobby Aboitiz of Cebu, including the look up Cebu. Something Code mandates that the has helped the town by was still alive. This is the roadmap on mass transport. must be done in Cebu which Internal Revenue Allotment granting $2 million to make reason why Mega Cebu is Alegado was active with Mega is the highest remitter (IRA) is 60-40 percent in favor feasibility studies on solving active in making plans for a Cebu and is privy to the JICA of income in the entire of the national government, common problems in Cebu better Cebu. projects. country. Justice must be some LGUs only received 16- under the Mega Cebu concept. Alegado said JICA focused “If JICA can finish its done for Cebu. But where is 20 percent. Alegado said they are its feasibility studies on the feasibility studies based the money now?” Alegado In its order, the Supreme working with JICA people areas of transport, water, on the recommendations said. Court directed the national continuously as they stayed seaport, airport, septage and of Mega Cebu, what a She said we should savor government to download with Mega Cebu for three years solid waste management, that wonderful Cebu it will be. the opportunities that they to the LGUs the unreleased now and using the $2 million can commonly be addressed There must be political can make for Cebu. shares in the past years, and grant to make the roadmap of by Local Government Units will, cooperation and Batangas Gov. Mandanas release the future shares in the Province of Cebu. (LGUs).. support from all sectors, has filed a case before thecurrent basis. Elias O. Baquero Cebu Business Week February 24 - March 1, 2020 3 NEWS Cebu province set real property tax computation adjustments Cebu province had set than a decade ago. July 1, 2020 as the start of the Cebu Provincial adjustments in the computation Governor Gwendolyn Garcia of real property tax dues. said the current value of the The Cebu Provincial provincial properties has Treasurer’s Office saidnow becomeit will obsolete. implement the new schedule The adjustment of market of market values (SMV) of values resulted to the increase real properties, hence, the in the value of the province’s adjustments. total assets by more than 400 Section 219 or the general percent. Garcia said that the revision of assessments Capitol closed its books in 2019 and property classificationwith total assets amounting to clause of the Local P188 billion from P35.7 billion Government Code states in 2018. that the provincial assessor On the other hand, Atty. is supposed to conduct a Hector “Boom” Baronda, reassessment of the value of chief legal officer of the real properties every three Bureau of Internal Revenue years. However, the appraisal (BIR) said that the amnesty of the provincial properties on unpaid real estate tax will was done in 2008 yet, more be in may 2021.

Businessman Virgilio “Nonoy” Espeleta, president of the Cebu Chamber of Commerce and Industry (CCCI) during the 888 News Forum at Marco Polo Plaza. With Espeleta is 888 News Forum alternate host Atty. Clarence Paul Oaminal and Board Member Glenn Soco. FB to ban deceptive CCCI backs Ambisyon Natin 2040 ads on coronavirus Facebook Inc announced virus” will be prohibited. The Cebu Chamber of 2040 for strong, economically traffic, water, etcetera. Weon Wednesday it would The US Centers for Commerce and Industry sound and peaceful families should also be part of the ban advertisements for Disease Control and (CCCI) has expressed strong should succeed because that is solution,” Espeleta said. products offering any cures Prevention (CDC) has support for “Ambisyon Natin the dream of every Filipino. Espeleta believed that the or prevention against the alerted Americans to begin 2040” which aims to make Espeleta said this came longterm aspiration can unite coronavirus epidemic, and preparing for the spread of Filipino families progressive from the survey that they did the . “We should have those that builds a sense of coronavirus in the United by the year 2040. but “we need people to own a life that is prosperous and urgency about the situation. States after infections spread “As CCCI president, I this vision.” This should not be secured by 2040. This should Facebook’s in several more countries. realized that it is a very good the government’s vision only. be something that everybody announcement comes at a time Last month, Facebook national vision. And I told “As a member of the RDC, must aspire. Regardless of when it is facing mounting said that it would take out Regional Development Council I suggest that we conduct who runs this government, regulatory inspection over the content about the virus “with (RDC) 7 and the National forums about Ambisyon Natin we should look towards that type of content posted on its false claims or conspiracy Economic and Development 2040. We need to cascade vision.” he said. platform, most particularly theories that have been Authority (NEDA) particularly this ambition across business “In the business side, we those showing excessive fake flagged by leading global that this should be everybody’s sector, private individuals and will do our part, and beyond news. health organizations and vision,” said CCCI president others. Everybody must own business we should do our job Ads with claims like “face local health authorities”, Virgilio “Nonoy” Espeleta. this because we are part of our as a citizen in this country, the masks are 100% guaranteed joining companies like He said Ambisyon Natin problem today like garbage, CCCI prexy said. to prevent the spread of the TikTok and Pinterest.

DTI consumer tips on gift checks, certificates or gift cards DAO 10-04: Guidelines the bearer upon presentation (2) years. Holders of unused promotional sales activities, on the Issuance, Use of said gift certificate/ check/ Starting 01 July 2012, and unexpired gift check/ loyalty programs, warranties, and Redemption of Gift card to the value, credit, all suppliers, issuers, certificates/ cards afterreturn policies for cash Checks, Certificates specific or good, service or eventdistributors and sellers June 30, 2012 shall be purchases, and discounts Gift Cards in accordance shown in the instrument. are prohibited from entitled to replacement after for senior citizens/persons with Republic Act No. It represents value held in issuing and/or selling gift revalidation by suppliers. with disability. 7394 or the Consumer trust by the issuer/supplier/ certificates/check/cards withTerms and conditions The suppliers cannot Act of the Philippines, distributor, thus DTI intends an expiry date. of unused gift check s/ be held liable for gift and for other Purposes to regulate its use to protect Gift certificates/checks/ certificates/ cards issuedcertificates/ checks/ cards Gift Check/ Certificate/consumers and ensure that cards that are distributed before the effectivity of this under that are: Card is an instrument they are not unduly deprived to consumers under order shall be honored; lost due to no fault of the issued by a supplier to an of their money awards, loyalty or but those bearing expiry supplier; and individual, partnership or a Salient Features: promotional programs are dates beyond June 30, mutilated or defaced due to juridical entity for monetary Upon effectivity of not covered. 2012 shall be subject to no fault of the supplier and consideration evidencing a the order 16 July 2010, all All gift checks/certificates/ revalidation or replacement. such damage prevents the promise by the issuer that gift checks/ certificates/ cards with no expiry dates Goods and services that are supplier from identifying consumer goods or services cards issued must bear a date shall be redeemable until used paid with gift certificates/ the security and authenticity will be exchanged in favor of of issue and an expiry of two by the bearer. check/card are qualified in features thereof. 4 February 24 - March 1, 2020 Cebu Business Week OPINION

Do women make good leaders?

This so-called macho decided to write this for Women’s Month not to pull legs. I just have lots to say about women being leaders through the years. I need to express these ideas, somehow, as we greet March 2020. For one, I have Weekly Notes been working with Emmanuel Nacorda Mongaya women all my life. As an editor, I noticed that many display this OC (obsessive-compulsive) fussiness for checking on small details to achieve perfection. No, they don’t suffer from the mental disorder. They just go over things again and again until they feel something is right. I don’t like leaders who prefer to micro-manage. But I admire leaders who can immediately sense something is wrong because a small detail is off. Unlike many men, women also value work-life Editorial balance. They can balance professional and personal leadership skills. Note how men focus more on their professional life and miss opportunities for family bonding. Women are also nurturing, and they value Cebu needs Val Chiong relationships. Aside from understanding what drives and motivates people, they acknowledge different The 59-year-old Since then, the city grew building which will be people for their performance. And they have this Mayor Valdemar Chiong by leaps and bounds as the transformed into a museum ability to nurture their people to succeed. of Naga City stunned mayor inaugurated not just is an unfolding modern plaza Yes, at a time when multi-tasking is revered, Cebu when he announced one or two projects every built by the world-famous guess who are naturally good at it. Women have this his resignation. People year. Kenneth Cobunpue. ability to quickly respond to simultaneous tasks and just seemed accustomed This year, which is The city’s problems. Thus, women especially working mothers to octogenarians, even already 2020, the City of handle crisis situations well. Working mothers? Of development office is full nonagenarians, still seeking Naga boasts of a modern of still unimplemented course, handling office and home crisis situations boardwalk that highlights a development plans that with compassion and patience trained them well. political office. “Get out while you are growing plaza and attracts includes BPO buildings, This ability at multi-tasking even extends to the on top,” Mayor Chiong told thousands of visitors. reclamation islands ability to wear many hats. They balance careers, journalists who visited him. The city’s sports Politically, the Chiong households, kids, even aging parents. When Naga became a tourism facilities included Between the genders, it seems more women show family is firmly in place. The chartered city on September an Olympic-size swimming mayor’s daughter Vice Mayor higher emotional intelligence. Leaders need this. 5, 2007, Mayor Chiong pool, a modern track and Kristine Vanessa Chiong will With all these leadership qualities, women leaders unveiled his program of continue the development make their jobs look so effortless. They maneuver field oval, football fields, action called Vision and a covered tennis court, a vision as incoming mayor. themselves even in difficult situations with grace. Leadership (VAL) 2020. bowling court, a sports arena His brother will become Finally, many women become great leaders At that time, Naga that hosts not only basketball vice mayor. The children of because most of the time, they are underdogs. They City hosted major power tournaments but also boxing the late mayor Ferdinand need to exert extra effort to get to the top. Those generators in the Visayas, a championships. Chiong are now councilors. who do get to the top display amazing strength and private hospital, a struggling The city also boasts of Can Cebuanos allow capability. small-medium industry free medical services in its such a dynamic leader like development in Cantao-an, hospital along with new Valdemar Chiong to just and a cement plant that traced government centers. resign? Cebu needs a Val its history to the 1920s. In front of the old municipal Chiong.

“Radiating positivity, creating connectivity” Atty. Gerardo Carillo Emmanuel delos Santos Rabacal Cebu Business Week is published every Chairman President week by Cebu Newsmakers Forum, Inc. All CEBU contents of this newspaper are placed online through Cebu Business Week Facebook page. Emmanuel “Anol” Mongaya Bebie Hiñola Baquero BUSINESS Editor Marketing Manager email: [email protected] Keres H. Aviles Emmanuel R. Espina Room 310-A,3rd floor WDC Bldg. WEEK Writer Production Head Osmeña Blvd., Cebu City Cebu Business Week February 24 - March 1, 2020 5 OPINION Europe unveils plan v. Silicon Valley

commissioner leading the Debris” left inside the left fuel those surveyed. spokesman added, “the charge on tech issues, said in tanks of several undelivered The ex-New York Mayor is law protects the right of a press conference. 737 Max. not competing in the firstAmericans to express their By leveraging the massive A company spokesman told four nomination contests. judgments and conclusions, data generated within its the BBC: “While conducting Mr. Bloomberg, 78, has especially about events of borders, the European Union maintenance we discovered instead chosen to enter the public importance. We look hopes to foster a fresh wave Foreign Object Debris (FOD) in race on 3 March, known as forward to vindicating that of development in industries undelivered 737 Max airplanes Super Tuesday, when 14 right in this case.” BIZBITS such as transportation and currently in storage. The states will vote. The March piece at issue, Manny de los Santos Rabacal health care, while leveling finding led to robust internal He came in second place written by Max Frankel, a former the playing field for investigation the and immediate in the NPR/PBS NewsHour/ executive editor of the Times, smaller companies currently corrective actions in our Marist poll. Bernie Sanders was titled “The Real Trump- Europe knows it fell unable to compete with large production system.” came in first with 31% supportRussia Quid Pro Quo.” It was behind the United States and US and Chinese firms. Foreign Object Debris is nationally and Joe Biden was published in the Times’ opinion China on the technologies that oOo a technical term that covers in third place with 15%. section, which is separate from dominated the past decade. Boeing’s crisis-hit 737 Max any substance, debris or oOo the organization’s newsroom and Now it has a plan to catch up. jetliner faces a new potential article that is not part of a President Donald falls under different leadership. The European Union safety issue as debris has been plane which would cause Trump’s campaign escalated Frankel’s piece argued unveiled plans to create a found in the fuel tanks of damage. its news media feud to “that there was no need for single market for data that several new planes which were oOo new heights, filing libeldetailed electoral collusion will help its companies in storage, awaiting delivery to Democratic presidential suit against The New York between the “Trump campaign complete on the next round airlines. candidate Michael Times in which it alleged and Vladimir Putin’s oligarchy.” of tech innovations and curve The head of the Boeing’s Bloomberg will take part in the newspaper “knowingly Frankel contended that the power of data giants such 737 programme has told a nomination debate for the published false and the Trump campaign and as Facebook (FB) and Google employees that the discovery first time on Wednesday, his defamatory statements” jn a Putin “had an overarching (GOOGL). Officials also was “absolutely unacceptable.” campaign confirmed. March 2019 opinion piece. deal: the quid of help against released a paper on artificial A Boeing spokesman said In order to take part in In a statement the the campaign of Hillary intelligence, proposing their the company did not see the the Nevada debate, he had to spokesperson of the Times Clinton for the quo of a new first-of-their-kind rules to issue further delaying the jet’s poll above double digits in said, “The Trump campaign pro-Russian foreign policy, govern the technology’s use. return to service. It comes as the four national polls recognized turned to the courts to try to starting with the relief from “Whoever does business 737 Max remains grounded due by the Democratic Party. punish an opinion writer for the Obama administration’s (here) needs to respect to two fatal crashes. On Tuesday NPR/PBS having an opinion they find burdensome economic our rules and values,” The US plane maker said it Newshour Marist poll found unacceptable.” sanctions.” (CNN) Margrethe Vestager, the EU discovered “Foreign Object he had support from 19 % of “Fortunately,” the ([email protected])

Cebu City chief executives

1938 to 1940. When war S. del Rosario, then Dr. him) had a son by the name 1951), Pedro Elizalde (1951- erupted, Rama sought refuge Luis Espina, lawyer Miguel of Ronald who also became 1952), Jose V. Rodriguez in Carcar. There, he was Raffinan, Pedro Elizalde, a lawyer and also became (1953-1955), Pedro Clavano appointed by the Japanese Dr. Jose Rodriguez, and successor Cebu City mayor in (1955), Sergio “Serging” Imperial Army as wartime lawyer Pedro Clavano. All of 1983 when his predecessor, Chiong Veloso Osmeña Jr. mayor of Carcar. them were appointed by the Florentino Solon, resigned (1956-1957, 1960, 1964- A year before the war, president. to become the director of 1965, 1968-1972),Ramon lawyer and newspaperman The Cebu City Charter the Nutrition Center of the Gonzales Duterte Cebu Legal Jose Delgado (admitted to was then amended by Philippines. (1957-1959),Carlos J. Cuizon the Bar on October 15, 1923) Republic Act No. 1233 (1960-1963, 1965-1967), Pedia was appointed Cebu City’s on June 7, 1955. TheAn illustrative first order of Mario Diez Ortiz (September Atty. Clarence Paul V. Oaminal mayor serving Cebu City election for the city mayor succession of Cebu City 18, 1963-December 31, from 1940 to 1942. Delgado was held on November 8, Mayorship: 1963), Eulogio Enriquez also became governor of 1955 (together with the Appointed in 1936 to be Borres (1968-1971, The post of Cebu City Cebu from 1943 to 1944. Senatorial election). The firstCebu City Mayor (only for 1972-1978),Florencio mayor under Commonwealth Next in line was lawyer Juan to be elected as Cebu City three days) was Don Mariano S. Urot (September 13, Act No. 58, signed on October Cerilles Zamora (a street mayor was Sergio “Serging” Jesus Diosomito Cuenco. 1971-December 31, 1971), 20, 1936 and officially formerly named as España Chiong Veloso Osmeña Jr. The first to be sworn in Florentino S. Solon (1978- inaugurated on February Street was renamed in his His vice mayor then as Cebu City Mayor on its 1980, 1980-1983),Ronald 24, 1937, was appointive. honor on August 5, 1971 was lawyer Ramon Duterte inauguration on February Regis Duterte (1983-1986), It was the president of the under City Ordinance No. (the elder brother of lawyer 24, 1937 was Alfredo V. John Henry Osmeña (1986- Philippines who appointed 721). Vicente Duterte, mayor of Jacinto (1937-1938). He was 1987), Jose Veloso Cuenco the mayor and the vice mayor Then there was Dr. Danao in 1946 and father followed by the following (May 19, 1987-November of Cebu City. Leandro Tojong of Ginatilan, of lawyer Rodrigo “Digong” Cebu City mayors: 27, 1987), Antonio R. The first Cebu City mayor Cebu (he was Cebu City Duterte). In 1957, Serging (1938- Veloso (November 27, who was appointed by mayor in 1945), followed resigned as mayor to run 1940),Jose Delgado (1940- 1987-February 2, 1988), President Manuel Quezon by another doctor, Nicolas for Congress, Vice Mayor 1942), Juan Cerilles Zamora Tomas dela Rama Osmeña was Alfredo Jacinto of Escario of Bantayan, Cebu Ramon became Cebu City (1942-1944), Leandro Tojong (1988-1995, 2001-2010, Gapan, Nueva Ecija. Jacinto (the first president of themayor from 1957 to 1959. (1945), Nicolas Gandionco 2016-2019), Alvin Biano served as Cebu City mayor Cebu Institute of Technology, Mayor Ramon Duterte Escario (1945-1946), Vicente Garcia (1995-2001),Michael from 1937 to 1938. The next now Cebu Institute of (a street in Sitio Banawa, S. Del Rosario (1946-1947, Lopez Rama (2010-2016) to be appointed was Vicente Technology University), Barangay Guadalupe, and a 1953), Luis Espina (1947), and Edgardo Colina Labella Rama serving Cebu City from followed by lawyer Vicente high school is named after Miguel Raffinan (1947- (2019). 6 February 24 - March 1, 2020 Cebu Business Week OPINION Enforcing ease in doing business in Metro Cebu

violating existing laws. Chief among its reforms is With the support of the In Cebu City, City As I have mentioned in the automation of business Local Chief Executive Jonas Treasurer lawyer Jerone my the previous column, in registration processes — where Cortes, Regal created her Castillo quipped that Mayor the latest World Bank annual all business registration own pitch in the treasury Edgardo Labella issued ratings, the country ranked certificates, renewals,in implementing and the basics Executive Order No. 009 124 among 190 economies in permits are consolidated in a in ease of doing business in relating to Ease in Doing the ease of doing business. single, readily accessible online City by reducing the Business the gist of which The rank of the Philippines platform. people who inked the permits will limit the processing deteriorated to 124 in 2018 But how this is being and speeding processing in permits to 24 hours from the from 113 in 2017. Ease of implemented locallyshould be hours. To date, the procedure time of filing. After filling up Doing Business in Philippines looked into. In Metro Cebu, still being implemented and the application forms and The Legal Front averaged 120.73 from 2008 two cities are leading in the honed to include payment of payment of the necessary Atty. Gerry Carillo until 2018, reaching an all implementation the law. With taxes and fees. She quipped fees, permits are issued on the time high of 144 in 2009 and the City of Cebu and Mandaue that in Mandaue City the permanent basis after issuing a record low of 97 in 2014. leading the path, surely other City Mayor and the City an affidavit of undertaking Earlier on, I wrote an We are still at the back of Local Government Units will Treasurer doesn’t have to that they will comply with the article on the Ease in Doing our neighbors in the ranking follow sooner. sign the permits so as to limit needed requirements set by Business in our country based with Singapore, South An interview with the bureaucracy. As long as law. Likewise, Castillo added on an experience of a friend Korea, Thailand, Australia, the topnotch treasurer the applicant can comply that payment integration is who tried to register his and New Zealand. Recently, lawyer Regal Oliva, whose with the basic requirements also being undertaken by business in our city. the passage of Republic Act. performance reflects that ofand documents needed for the City Treasurer’s Office Although our country is 11032 or otherwise the Ease her mother, Ofelia Oliva, who the application, one permit meaning taxpayers would still behind in implementing of Doing Business Act of earned the title the Dancing can be approved in hours. have a tracking system on the international standards 2018 was rushed to save our Treasurer during her stint Mandaue also implemented their payments. on doing business. But economy from falling into as treasurer of the City of the one stop shop for all With these, the LGU is recently there has been hype a deep ravine of economic Cebu, bared how Mandaue applicants for business proceeding towards making by government agencies crisis. City started implementing permits and the payment business transaction with to provide a backbone in The new law aims to cut procedure in speeding scheme which allow bank to government a lot more easier transacting with government excessive red tape and make up business processes in accept payment instead of and less taxing among the to make it a lot more easier it easier to start and operate Mandaue before the law was taking a long queue in the constituents. Write us at and simpler without necessary a business in the country. passed. treasurer office for payment. [email protected]

Can Dito construct 1,600 towers in six months?

majeure, or a situation The telecommunications Mislatel consortium, paid slowdown forced companies which is out of its control. company backed by a 25.7-billion performance like Honda to rationalize “Siyempre bibigyan businessman Dennis Uy bond to the government their global operations, natin sila ng palugit, hindi with China Telecom must as it committed to provide optimizing the allocation of tayo ganung ka-strikto [Of put up at least 1,600 towers internet service with a their resources. course we will give them in the next five months speed of 27 megabits per “It was clarified that some leevay, we are not to meet the technical second to more than a third the closure of operations that strict],” Honasan said requirements. However, of the population on its in the country was a global after inspecting Dito’s site only 600 structures have first year of operation. The decision by Honda HQ and This Business in Quezon City. “The law, been finished or are under company earlier claimed it Philippine operations were of Living the regulations are not that construction at present. wants to corner 30 percent not involved in the decision Emm R. Espina rigid.” Network officials of mobile subscribers in the to close the facility in the Last week, Dito said it admitted that building the Philippines in its first three country,” said Sec. Lopez. would only be pushing remaining 1,000 towers years. “The reason they cited After so much hype, Dito, through with a “technical” could be tricky as the novel was a global slowdown in the third Telco may be not rollout by July 8, 2020 — coronavirus outbreak ****** the automotive industry, as it was touted to be. Citing a one-year deadline set by disrupted manufacturing Honda Philippines coupled with a more the effect of the corona virus Department of Information and import shipments facility closure competitive market with epidemic, Information and and Communications from China where it The Philippine News more players. This forced Communications Secretary Technology (DICT) after the sources steel, as well as Agency reported that any company to consolidate Gringo Honasan declared network secured the license fiber optic cables. Honda Cars Philippines, and select operations with that the government is open to run a telco business in However, Dito Inc. (HCPI) President and least cost and with a more to giving Dennis Uy’s Dito the Philippines. Telecommunity Chief General Manager Noriyuki favorable market position Telecommunity elbow room A technical audit meant Administrative Officer Takakura February 24, and volume of operation,” to roll out mobile services getting checked by National Adel Tamano said further Department of Trade and he added. as the novel coronavirus Telecommunications delaying the rollout of Industry (DTI) Secretary The closure of the outbreak could delay Commission if it is on track services would be their Ramon Lopez confirmed assembly plant in Laguna shipments of steel and fiber to provide mobile network last resort. “Unless we that the closure of the Honda will affect the jobs of 387 cables for cell towers. services to Filipinos. have exhausted all possible car production facility in employees, but other offices In a CNN News dispatch, Commercial rollout — or the alternatives, that’s the PH was mainly triggered by such as automobile sales Honasan II said that he is distribution of SIM cards to only time we would even the global slowdown caused and after-sales services willing to accommodate subscribers — would only consider citing a force by the US-China trade war, will continue through the Dito should the third major start by March 2021, Dito majeure situation,” he said. followed by the current Asia and Oceania regional player find itself in force said. Dito, once called the COVID-19 issue. The market network. Cebu Business Week February 24 - March 1, 2020 7

Publisher: JUN ALCOVER SUGBU PAGE Editor: KIM H. AVILES A paper within the paper

po yong pamasahe.” Eala assured the riding JoyRide motax operations public that they will not ask exorbitant fare during peak hours, let alone refuse to convey passengers to their destinations. in Cebu starts on March 2 Eala said their difference with other motorcycle taxi operators is Eala: Riding public can download JoyRide apps on Feb 29 that “Wala pong price surge and JoyRide…Pero ngayon STARTING on Monday, po dahil sa aming TWG March 2, JoyRide, in guidelines…dapat lahat na partnership with Motorcycle motorcycle taxi operators Taxi (Motax) will begin its walang price surge.” operations in Metro Cebu. He also said that in their JoyRide is one of three JoyRide mobile application, companies, including Angkas the riding public can see the and MoveIt, to be part of kilometers reading, which the pilot implementation means that if you go from initiated by the Department point 1 to point 2 you will of Transportation (DOTr), know exactly how far is your Land Transportation and distance. The passengers Franchising Regulatory would know exactly how Board (LTFRB), Land much they are going to pay Transportation Office (LTO) “And therefore based on through the Transport that distance, you can now Network Vehicles System measure it based on the (TNVS), aimed at legalizing kilometer rate of the fare motorcycle taxi operations in matrix. Ang fare matrix po the country. Noli Eala and Edwin Rodriguez of JoyRide guested with the Kapihan sa Sugbo last Feb. 26, 2000 to explain their App for Motorcycle Taxi sa Cebu ay P20 for the first (MoTax) while MoTax Founder Pastro Alcvoer Jr. looks on. Through the guidance two kilometers, and after of former Cebu City North “corrupt and abusive” Congress signs into law a will also be covered. So iyong eight kilometers its fare will District Councilor Pastor government and private measure calling for the full pong habal-habal drivers natin now be P16 and P20 after Alcover Jr., close to 5,000 officials in Metro Cebu and recognition of motorcycle will have now the benefits, not the eight kilometers of the habal-habal drivers in province. taxi as another mode of only the legitimate source of 16 kilometers,” Eala said. Metro Cebu have formed Legitimacy public transportation in income and legitimate access The Technical Working themselves into a Motax Eala said Metro Cebu the Philippines, JoyRide to the public,but also they will Group of DOTr came up with cooperative and is now tied has been selected as one of executive Eala said be covered by a very reliable this fare matrix in order to up with JoyRide to operate the coverage areas in the motorcycle taxi drivers and insurance company,” Eala said. discourage riding public in Metro Cebu. pilot implementation of their passengers will be from using motorcycle taxi Less than a month motorcycle taxi program. covered by insurance. On apprehension that for an extended length of With barely less than a “Iyon pong miembro ng Malayan Insurance JoyRide drivers will be distance. They want only month left in the experimental mga “habal-habal” will now JoyRide has tapped the asking exorbitant fares, short distances. Precise the stage for motorcycle taxi be part of this program of services of Malayan insurance, Eala said all motorcycle issue here is the passengers’ operations in Metro Cebu, JoyRide. Ang benepisyo one of the biggest insurance taxi operators are guided safety and the drivers, too. JoyRide vice president for po nito…they will become companies in the country. by strict provision of the “We want to ensure that corporate affairs Noli Eala legalized (as motorcycle Eala said the motax rider and Technical Working Group’s our motorcycle riders and told Kapihan sa Sugbo that the taxi riders), they will now the passenger will each get a guidelines. “In other words drivers are always safe. riding public can download be legitimized,” Eala said. P500,000 insurance coverage, po, kami ay hindi po kami Mahirap po yong masyado the JoyRide app on Feb. 29, According to Eala, these he said. pwedeng lumabas doon.” malayo ang biyahe because or barely two days before it motorcycle taxi drivers “We also have P200,000 Guidelines it’s more risky. So we are actually operates in the streets can now get passengers coverage for medical and Under the guidelines, trying to ensure that the of Metro Cebu on March 2. openly without fear of being accident insurance and we have Eala said, there are very motorcycle taxi is used in Kapihan sa Sugbo, a apprehended because they a P250,000 violent accident specific provisions on fare a very efficient and reliable two-hour no-holds-barred are now legal. ‘kung naholdup or kung iyon matrix. “Yon pong pagsingil manner, said the official of discussion of burning issues More importantly, once po nasubject ng crime they kung papano kung magkano JoyRide. KHA of the day, is held at the 3rd floor of Elegant Circle Inn in Fuente Osmena, Cebu City and is aired live over SEC: Single proprietorship will register to DTI dyCM on Wednesdays and can also be watched on BUSINESSES that are DTI and SEC when it comes licensing division at Cebu City Bislig City Regional Trial FaceBook live. required to register to the to registering a business. Hall, the SEC official said. Court issued a warrant of Kapihan founders Department of Trade and Teves, who was one of Kapihan sa Sugbo is a arrest for Kapa organizers, former Cebu City South Dist. Industry (DTI) are those that the guests of Kapihan sa two-hour no-holds-barred promoters lead by its leader Rep. Pastor Alcover Jr. and are single proprietorship Sugbo, clarified that asdiscussion a of the day’s issue Joel Apolinario. Teves said former Compostela Mayor only. The owner of this corporation, it has to register aired live over dyCM and can she has no update yet about Ritzie Wagas, together business doesn’t want to be its name to the SEC and not also be watched on FaceBook the other pyramiding groups with its president Cesar classified as a one personto DTI. live. Kapihan is held on facing charges in court. Albor, and some of Cebu’s corporation, Atty. Giness What will be registered Wednesday’s at the 3rd floor Kapa, Teves said, has top radio commentators Teves of Securities and to the SEC is the Certificateof Elegant Circle Inn, Fuente violated the Securities and columnists, have Exchange Commission (SEC) of Incorporation. About the Osmena, Cebu City. Regulation Code, among bonded together to serve Region7 replied to a question business permit, it has to On Kapa’s update, atty others, for not registering their as watchdogs and expose about the difference between be secured at the business Teves said on Feb. 11, the investment contract. KHA 8 February 24 - March 1, 2020 Cebu Business Week BUSINESS IMF maintains forecast for Philippine growth

THE International of 6.5-7.5% growth this year.. lending and deposit facilities Monetary Fund (IMF) so far Yang said the country is currently stand at 3.75%, maintained its growth forecast “not immune” to the threat 4.25%, and 3.25%, respectively, for the country this year. the coronavirus has placed on after the Monetary Board cut “We don’t have updated the economy, notwithstanding rates by 25 basis points (bps) on forecasts for the Philippines its depressing blow on the Feb. 6. at the moment,” IMF tourism industry. But, he said BSP Governor Benjamin Resident Representative “the reduction of key policy E. Diokno said the central Yongzheng Yang said. rates by the Bangko Sentral ng bank may cut rates by Earlier, Yang said they Pilipinas (BSP) will be able to another 25 bps sooner as the maintained their 2020 somehow cushion the virus’ second quarter to at least Bibingka of Mandaue growth forecast for the effect on the economy.” safeguard the country from country at 6.3%, quite lower The rates on the BSP’s the economic blow from the If Bohol has its Kalamay to die for and Argao has its than the government’s target reverse repurchase, overnight COVID-19 dilemma. Torta to keep coming back to, the City of Mandaue has its Bibingka (rice cakes) to swoon over. Mandaue’s bibingka is made from ground rice, coconut milk and strips, sugar, and yeast or rarely tuba and the finished product wrapped in a banana leaf. But what makes Mandaue’s bibingka special and unique? Just what is its secret? It is not your archetypal rice cake. The secret? Mandaue’s bibingla is still cooked in the old-fashioned way despite the high-technology ovens we have nowadays. Bakers still use the terra cotta ovens where bibingka mixture is cooked between burning charcoals above and below it. The smoke from the charcoal gives the bibingka its characteristic taste distinct from rice cakes baked in modern ovens. The first-known Bibingkang Mandaue baker and vendor was Claudia Atis, who left the business to her children before she died in the 1990’s.

Chairperson Elena “Ellen” Limocon (middle) presides the rfegular board meeting of the FONUS Federation of Cooperation, a rising star in Cold storage firms to rise the funeral business. near food production points

Cold storage companies reduce post-harvest losses Fonus offers low cost funeral need to set up operations by at most 35% that could nearer food production be added up to the national The FONUS Cebu Cooperative, said that aside area to set up a FONUS b centers to ensure quality food supply, thus bringing Federation of Cooperatives from Cebu City Government, ranch. produce and minimize down prices for the benefit has offered to tie-up with they also want to be s FONUS has been given a spoilage. of millions of Filipinos,” Mr. the Cebu City Government conduit of Mandaue City permit by the Department of Department of Dar said. in providing low-cost funeral Government, Lapu-Lapu City Health (DOH) and has been Agriculture (DA) Secretary “With access to modern service to indigent families. Government and Talisay City accredited by the Vicente William D. Dar asked the refrigeration and storage In a draft Memorandum Government in providing Sotto MMemorial Medical Cold Chain Association facilities, farmers and of Agreement (MOA) low-cost fuenral service to Center (VCMMC). of the Philippines (CCAP) fishers could sell their during a meeting to establish quality vegetables, meat submitted by FONUS to the the poor people. FONUS Director more cold storage facilities and marine products at office of Cebu City Mayor In the case of the Cebu City Mariolito del Castillo in wholesale trading better prices to consumers,” Edgardo Labella, it was stated Government, Limocon said this of Mandaue Vendors centers, fish ports,he added. and that the funeral cooperative will strenghen the “womb-to- Cooperastive (MAVENCO) slaughterhouses. CCAP president Anthony is willing to charge only tomb” program of Labella who said the federation has a net Dar said ensuring the S. Dizon said that its 130 P10,000 per indigent person has also the “hospitalization income of more than P2.3 quality of produce and members store about who will die. program”, and is rushing million last year despiter minimizing post-harvest 450,000 metric tons (MT) of FONUS is a federation the completion of Cebu City its low fuenral service losses will help farmers perishables every year. The with about registered Medical Center to save lives. price. It is also providing increase incomes, improve industry has a fleet of 10,000 members of 43 cooperatives Director Ma. Leonor funeral services to as much food supply and keep prices refrigerated vehicles and which are all registered Amodia said FONUS wants as P50,000 depending on low for all consumers. containers. with the Cooperative to be present in entire caskets and other kinds of “With more cold storage Dizon said the cold Development Authority Cebu and may tie-up with service. facilities located near major chain industry expects to (CDA). existing funeral parlors Lately, FONUS Cebu has farm production areas, grow around 9% annually FONUS Chairperson in municipalities and accepted some investment trading centers, livestock due to the increasing Ellen Limocon of Lamac component cities. of several cooperatives that slaughterhouses and poultry population and a greater Multi-Purpose Cooperaetive Director Emma Carriaga wish to be part of the business dressing facilities, fishing share of food purchases and FONUS Vice Chairman said that Carcar City in and at the same time help the grounds and municipal from supermarkets and Noel Nuñez of Fairchild Southern Cebu is strategic needy. Elias O. Baquero fishports, we will e-commerce be able platforms. to Cebu Business Week February 24 - March 1, 2020 9 BUSINESS Galleria spends P8M for LTO facilities The Robinsons Galleria under LTO to working by LTO personnel finish the Cebu City district wait for two to three hours management has spent P8 7. This includes examination and good environment for office of LTO 7 at Robinsons to transact a driver’s license million in putting up facilities room, waiting area, the transacting public,” Galleria which will be opened which is now valid for five for driver’s license issuance and records section, and most Caindec said. by first week of March 2020. years?” Caindec said. vehicle registration for the Land importantly, to accommodate In the past years, “Still, there are multiple He said that during the Transportation Office (LTO) 7 people transacting business Caindec said people suffered steps in securing driver’s gathering with Department within 400-meter area. with us,” Caindec said. under the heat of the sun license or registering a of Tr4ansportation Secretary Robinsons Galleria He added that car owners or rain while their vehicles vehicle and with only one Arthur Tugade last week, he management renovated can request LTO to inspect were being inspected by the window, it was impossible (Tugade) said that how they the area, put the necessary their vehicles at Robinsons Motor Vehicles Inspection to get the job done faster. wished that LTO transaction be facilities, and doubled the Galleria basement as pre- Service (MVIS). MVIS now Unlike at present that there finished in 30 minutes. But there area from 200 square meters requisite for registration. air-conditioned. are multiple windows for one are times when internet is slow. to 400 square meters, at no The LTO 7 also requested Hr said he talked applicant,” Caindec said. “Sometimes, our server is expense to the government, for vehicle emission test area with LTO chief, Assistant “I urge all people who offline, and sometimes LTO said Director Victor and medical checkup for Secretary Edgar Galvante applied for driver’s license or offices are on brownout. But Emmanuel Caindec of LTO 7. driver’s license applicants. who wants Caindec to vehicle registration to avoid an office of LTO within the “This place is for driver’s “Slowly but surely, we are implement a one-window IT transacting with fixers. Why mall, has less interruption, licensing and vehicle trying our best to transform (Information Technology) not deal directly with LTO although not perfect,” Caindec registration for the entire LTO offices to be conducive policy. They are now going to personnel. Why can they not said. Elias O. Baquero

Gov’t clarifies 105-day maternity leave AirAsia: -Ho Chi Minh, Clark-Bohol routes to kick-off The Civil Service and Employment, and Social Under R.A. 11210, Commission (CSC) reminds Security System recently women who underwent live AirAsia Philippines relaunched its Manila-Ho Chi government agencies to grant issued a joint clarificatorychildbirth are entitled to 105 Minh route while adding another domestic flight, Clark- claims for benefits under statement explaining that the days maternity leave with full Bohol in time for the summer season. Republic Act No. 11210, date of effectivity of the law is pay, with an option to extend AirAsia Philippines chief executive officer Ricardo Isla also known as the 105-Day 15 days after the publication for 30 days without pay. On revealed that he airline’s first flight to Ho Chi Minh City and Expanded Maternity Leave of R.A. 11210 in a newspaper top of 105 days, solo parents its Clark-Bohol route are scheduled to start simultaneously Law, to women who gave of general circulation. The law are entitled to 15 more days on March 29. live childbirth, or suffered was published on February of maternity leave. The Ho Chi Minh route was first launched in 2017, and miscarriage or emergency 23, 2019. Meanwhile, women was postponed in August 2019. termination of pregnancy on The statement corrects who suffered miscarriage “It’s really been part of the drawing board to strengthen March 11, 2019 and thereafter. the misconception that the or emergency termination both domestic and international network of AirAsia R.A. 11210 took effect effectivity date of the law of pregnancy, or delivered Philippines. We’ve been fast-tracking route launches, and Ho on 11 March 2019 and thus is based on the publication stillbirth, can avail of 60 days Chi Minh comes right after and Zamboanga applies to instances of live date of the Implementing maternity leave with full pay. launches,” Isla said. childbirth, miscarriage, or Rules and Regulations (IRR). Female employees in the According to AirAsia, Ho Chi Minh is known as a emergency termination of The IRR was issued on government service can avail business hub of Vietnam, and a popular tourist destination pregnancy that occurred May 1, 2019 and published of maternity leave under R.A. often visited for its French architecture, fresh local cuisine starting from said date. The in a newspaper of general No. 11210 regardless of their and historical attractions, and the carrier has been offering CSC, Department of Labor circulation on May 3, 2019. employment status. this route via Manila only.

The REview School The of Accountancy or RESA Review School, Inc., premier Academe CPA board exam review center in the Philippines, signed a Memorandum of Understanding for CIT University to host its Cebu operations starting this 2020. The partnership was sealed in a ceremony on February 21, 2020 at the Activity Center. RESA was represented by Review Director, Prof. Antonio by University President, attended the seminar could RESA’s first review period Dayag who also gave a Engr. Bernard Nicolas not help but loudly applaud will be in preparation for the seminar on the updates Villamor, with witnesses as the MOU signing was October 2020 CPA Licensure of Philippine Financial VP for Administration, Mr. announced since they no Examination. Interested Reporting Standards John Gregory B. Escario, longer have to fly to Manilaapplicants may contact Mrs. and Advanced Financial and VP for Academic Affairs, just to have their review in Sharon Gabriel, Accountancy CIT-University signs Accounting and Reporting. Atty. Corazon Evangelista- RESA but can instead have Department Chair, through MOU with RESA On the other hand, CIT Valencia. it here in Cebu in no less 2617741 or 4112000 local Review School University was represented The students who than their own alma mater. 137. Source: CIT-U Fb page 10 February 24 - March 1, 2020 Cebu Business Week BUSINESS Pinay heads UN Charter special body Duterte: Stop red tape

The Philippines’ Kira Azucena has been The Manila Declaration is considered the President Rodrigo overregulation and shall be voted chair of the Special Committee on the first important tool of the effort of the Special Duterte ordered hovernment removed accordingly,” the Charter of the United Nations and on the Committee. It is the first comprehensive plan agencies to bring to a halt President said in his order Strengthening of the Role of the Organization and consolidation of the legal framework “burdensome” businesses signed on Feb. 21. that is mandated to deal with matters of for the peaceful settlement of international processes and keep only the “All of the established peaceful settlement of disputes between disputes. “necessary” ones. processes of government member nations. The Philippines regained its vital He called on the state agencies for the availing The assumption of Azucena, Chargé hold at the United Nations Educational, agencies to support the of their services will be d’affaires, a.i. and Deputy Permanent Scientific and Cultural Organizationimplementation of the scrutinized to ensure that Representative of the Philippine Permanent (UNESCO) Intergovernmental country’s first ever there Ease is no of overregulation,” Mission to UN Headquarters, New York, to the Oceanographic Commission (IOC) in 2019. Doing Business law. he said. Chairmanship of the UN Special Committee 2020 marks the 3rd consecutive term for In an administrative Government agencies have 2 announced by the Philippine Mission to the the nation to be in the Executive Council of order released Thursday, months to submit to the Anti- United Nations on February 18, 2020. the United Nations’ Duterte cited that too much Red Tape Authority a report Azucena immediately noted that 2020 Other notable Filipinos were named unnecessary regulations on their compliance with the marks the 40th year anniversary of the Manila ambassadors by the UN. They are: broadcast blow up the cost of setting Ease of Doing Business Act. Session of the Committee, which resulted journalist Atom Araullo, the new United up a business and discourage The report should in the adoption of the Manila Declaration Nations Refugee agency goodwill ambassador private investments. contain a list of its regulations on the Peaceful Settlement of International and Chef Margarita Forés, Ambassador For “All processes in excess and the legal bases for Disputes in 1982. Gastronomy Tourism. thereof, including those these, particular steps or which are redundant procedures, requirements or burdensome to the and processing times for public, shall be deemed transactions, according to Tighter capital rules set for smaller banks manifestations of the order.

Bangko Senral ng Pilipinas the end of 2021 to make room is generally made up of (BSP) announced it would for a “smooth transition” to eligible perpetual capital tighten capital requirements the revised capital rules. instruments. DICT to release common on smaller standalone lenders, Under the new rules approved BSP said this will set consistent with international by the Monetary Board, local bank rules at same tower policy in March standards. standalone thrift, rural and level with international In a statement, the BSP cooperative banks must standards under the Basel III THE Department the inputs it collected from said this new rule will allow provide for minimum capital requirements,. of Information and various stakeholders. these financial institutions ratios including a common BSP Deputy Governor Communications Technology Mr. Honasan attributed to continue absorbing equity tier 1 ratio of 6%, a tier Chuchi G. Fonacier said that (DICT) is set to release the the delays to “bureaucratic losses. “The enhanced 1 ratio of 7.5% and a capital smaller banks already have common tower policy in March. problems,” but said he was capital standard is aimed at conservation buffer of 2.5%. adequate funds to abide by DICT Secretary Gregorio not blaming anybody. promoting the safety and These are in addition the rules and the central B. Honasan II told reporters on The idea of tower sharing soundness of individual banks to the minimum capital bank was just “formalizing” Wednesday that his department is being pushed by the DICT to and the banking system,” “This adequacy ratio of 10%. Tier 1 the requirements. “should come up with an improve tower density, which reinforces the importance of capital is mostly made up of Banks covered by the announcement on the common it said is one of the lowest in maintaining sufficient level ofcommon equity tier 1 capital revised standards must tower policy in March.” the region at 4,000 subscribers common equity which could elements such as common submit parallel capital “It’s actually on its per tower. Allowing common absorb losses on an ongoing shares, additional paid-in adequacy ratio reports final draft. We willtowers make means more than one basis,” it added. capital, retained earnings using the existing and new the announcement soon,” telco can use a single tower, BSP said there would be and undivided profits. frameworks until Dec. 31 he added, stating that the thus increasing the number of an observation period until Additional tier 1 capital next year, BSP said. department is consolidating subscribers served by each tower.

Photo Gallery of Cebu Business Week readers

CBW readers who hold hard copies of Cebu Business Week and enjoyed reading its contents which are all positive news. Left to right: Businessman Paul Hubahib, Editor-in- Chief Emmanuel “Anol” Mongaya and Journalist Keres H. Aviles Cebu Business Week February 24 - March 1, 2020 11 LIGHTER SIDE FUn TRiVIA

Do you know that… Banging your head against a wall for one hour burns 150 calories? Then again, you can walk your dog for 45 minutes, which also burns 150 calories – and is much less painful.

In Switzerland it is illegal to own just one guinea pig. This is because guinea pigs are social animals, and they are considered victims of abuse if they are alone.

The scientific term for brain freeze is “sphenopalatine ganglioneuralgia”.

“Ablutophobia” is the Fear of bathing, cleaning or washing The collective name for a group of apes is called a “shrewdness” Now you know!

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Visit us at Unit 302 3rd Floor Mango Square Mall or Call us up for your orders at 0908-662-2226. Door to door delivery! 12 February 24 - March 1, 2020 Cebu Business Week SPORTS Tim Tebow to play for PH in World Baseball Classic

Former NFL quarterback play for team Philippines in the will play in a qualifying and New York Mets minor @WBCbaseball ... the country tournament on March 20- league outfielder, Tim TebowI was born in and somewhere 25 in Tucson, Arizona, with will play for his birthplace, that is near and dear to my teams from Panama, New the Philippines in the World heart!” Tebow tweeted after Zealand, Great Britain, the Baseball Classic The 32-year- the WBC tweeted reports of Czech Republic and Spain. old Tebow was born in , his spot on the Filipino roster. Tebow led the University Philippines, to a US couple Tebow said Mets of Florida to two US national there who were in the country management backed him collegiate titles before being as Baptist missionaries. in his forthcoming game in picked in the 2010 NFL Draft “Grateful and excited to the WBC. The Philippines by the Denver Broncos.

Tabal one race shy for Tokyo Olympics qualifier Cebu’s pride, Mary due to the huge outbreak February 9 was cancelled by Joy Tabal, the country’s of the Coronavirus Disease the organizers. first Filipina long-distance(COVID-19) in South Korea. With these sprinter in the Olympics is Due to the Coronavirus cancellations, Tabal is now only one race away to qualify Disease (COVID-19) left with the Scotiabank for the 2020 Tokyo Olympics. outbreak, the 2020 Seoul Ottawa Marathon in May, This after she was Marathon which was the same competition which informed on Tuesday supposed to be held on qualified her for her first morning, Feb. 25, 2020, that March 20 has cancelled its Olympics in Rio de Janeiro her third race prospect for international elite division. in 2016. qualifying, the 2020 Seoul Earlier, the Hong Tabal presently holds the Marathon, has also cancelled Kong Standard Chartered, Philippine record for the full its international elite division supposedly scheduled last marathon. TIM TEBOW