money matters

FOPANORMIN launches Big Brother Small Brother concept

December 3, 2019

TRUE to its thrust to help fledgling food businesses among its members, the Food Producers' Association of Northern Mindanao (FOPANORMIN) launched over the weekend its Big Brother Small Brother program.   FOPANORMIN president Nenita Tan explained that under the scheme, the organization will partner with bigger stakeholders in the industry to assist its relatively smaller startups.   "We are looking for big players which are willing to provide guidance to our selected MSME members in terms of technical assistance, proper managrment of logistics, accounting, marketing, products processing, etc.," Tan said.   These so-called big players may be multinational companies, academe, government units, foundations or financial institutions.   In return, the selected micro, small and medium enterprises (MSMEs) must be committed to apply what they have learned during the corporate tutelage, according to Tan.   Tan said this program is part of FOPANORMIN's thrusts to provide food processors in this part of Mindanao to generate assistance both from government and private stakeholders.   Big Brother Small Brother concept is expected to be adopted next year.   Friday's launch coincided with the opening of the group's Christmas showcase at Limketkai Mall rotunda in Cagayan de Oro City.   "Whether it be as an association or as individual companies, we were able to share inputs with each other our own business experiences simply to be a catalyst for growth for each other within and outside the association," Tan said.   For almost 20 years now, FOPANORMIN has been instrumental in leading innovations to constantly upgrade and sustain the food processing industry in Region 10, partnering with such agencies as the Department of Trade and Industry (DTI), Department of Science and Technology (DOST), among others.   It has a total of 32 industries as active members.   "We will continue to develop our products not just for membership upliftment but to showcase the best that Northern Mindanao can offer," Tan said.

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PH releases Premyo bonds

November 28, 2019

THE Philippine government through the Bureau of Treasury has released a public offering of so-called Premyo Bonds which started last November 25 and will end until December 13 this year. In a public forum held last Wednesday at Seda Centrio in Cagayan de Oro City, Bureau of Treasury director Eduardo Anthony Mariño III reported that the minimum investment for the Premyo Bonds is P500 and in multiples of P500 thereafter. With an issue date of December 18 this year, the maturity date of each bond will be on December 18, 2020 with an interest rate of three percent that is paid quarterly. Mariño further said that a maximum acquired bond of 20,000 units or P10 million is eligible for inclusion in each cash rewards draw with one winner of P10 million, one winner of house and lot each from Hotel 101, Lessandra by Vista Land and Megaworld, ten winners of P100,000 and 50 winners of P20,000. Draws will be held quarterly within the period before maturity. The Premyo Bonds can be acquired by individuals, trust entities, employee retirement funds, provident funds, cooperatives and associations. It is initiated by the Bureau of Treasury to make government securities available to small retail investors, according to Mariño.

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Social Mobility Tour in CDO

November 15, 2019

THE Philippine Business for Environemnt spearheaded the Social Mobility Project for Cagayan de Oro caravan last Wednesday, bringing together the Philippine Chamber of Commerce and Industry (PCCI), the local government of Cagayan de Oro City and Oro Chamber into a partnership agreement for a multi-stakeholder collaboration to improve land transportation management, reduce traffic congestion, minimize air emissions and support livable cities. The forum, which was held at Limketkai Luxe Hotel, seeks to understand the cities’ mobility situation and similar projects that aim to address current mobility issues and concerns and collect mobility data and information, analyze each mobility performance using a set of indicators and prioritize which among the identified indicators are applicable to the project. A dozen experts were invited to present their prototype solutions in areas of road clearing, policy review and infrastructure and alternative transport solutions. The presented solutions will form part of a roadmap on its simultaneous implementation. 

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CDO leads the way for Minda industrialization with summit

October 21, 2019

MINDANAO is about to be transformed into the country's largest industrial hub and the city will be right at the heart of it.   Local and foreign industry leaders will be gathering here in Cagayan de Oro City for the Philippine Industrial Summit in Mindanao next month.   Leaders from various government bodies and foreign embassies are also invited to take part in the summit.   "Mindanao is on the roll. It's only proper to host the summit in the island," said PIEMO Industries Association president Augustus Adis.   Together with Phividec Industrial Authority administrator Franklin Quijano, they decided to launch the first ever Philippine Industrial Summit in Mindanao.   Their goal is to help fasttrack the country's industrialization in general and Mindanao in particular, gathering local and foreign industries and government institutions.   According to Adis, the island can provide dependable power for continuous processing and production.   Furthermore, it has an abundance of fuel and infrastructure which can help ensure that products are transported within the island, nationally and internationally.   So far, the Philippine Industrial Summit in Mindanao has gotten support from the European Chamber of Commerce of the Philippines (ECCP), the Japanese and Chinese consulates of Davao City, Philippine News Agency (PNA), Mindanao Development Authority (MinDA), Department of Tourism (DOT) and Philippine Institute of Certified Public Accountants (PICPA).   Cagayan de Oro - being one of the largest regional contributors to national GDP - make it the perfect location for the summit.   The Philippine Industrial Summit in Mindanao will be held November 26 to 27 at Limketkai Luxe Hotel. There will also be an exhibit and job fair at Limketkai Event Center.   To register for the event, visit industrialsummitph.com. For inquiries, contact 08279848513 or 09394360280 or industrialsummit.ph2019@gmail.com.

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CDO gov't to invest in T-bills

October 2, 2019

THE city government of Cagayan de Oro will be investing in Treasury bills.   During its weekly session last Monday, the City Council approved an ordinance authorizing Mayor Oscar Moreno to invest in Treasury bills in the amount of P20 million.   According to Councilor Edna Dahino who authored the ordinance, the investment will come from unused funds deposited to the city government at Philippine Veterans Bank and Amanah Bank.   Dahino explained that Treasury bills are sound investments because they gain higher interest than bank deposits.   The councilor also cited Department of Finance Order No. 071-2018 authorizing local government units to invest their unused funds in government securities. Treasury bills are short-term fixed income securities issued by the Bureau of Treasury. Investing in Treasury bills is practically risk-free since there is a low probability that the Philippine government will default on its own local currency debt.   Dahino's ordinance is backed by Councilors George Goking and Ian Mark Nacaya.

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Construction, tourism jobs up for grabs in Tesda’s Oro, Iligan events

August 9, 2019

HUNDREDS of domestic jobs in the construction and tourism industry in Northern Mindanao are up for grabs in two simultaneous job fairs to be spearheaded by the Technical Education Skills and Development Authority (Tesda) on August 25. According to Tesda 10 director Tarhata Mapandi, the twin job fairs dubbed as World Café of Opportunities will be held at Limketkai Event Center (Cagayan de Oro City) and Robinsons Place Iligan. Mapandi said the job fairs are exclusively for alumni of vocational courses only. She said that August 25 was chosen as the date for this year’s event since it is also celebrated as Tech Voc Day. The Department of Labor and Employment (DOLE) will participate in the simultaneous events to provide livelihood opportunities while the Department of Trade and Industry (DTI) will conduct free entrepreneurship trainings. Representatives from the Cooperative Development Authority (CDA) and Land Bank of the Philippines will also be on hand to provide financial schemes. The World Café of Opportunities was conceptualized in 2018 as Tesda’s strategy to link vocational graduates to employment opportunities both in wage and self-employment in a one-stop shop. On the other hand, Tech Voc Day was timed every August 25 in celebration of Tesda’s annual anniversary. This year, the agency will celebrate its 25th.

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