Money Matters – Mindanao Gold Star Daily https://mindanaogoldstardaily.com Read the Latest News and Updates in Mindanao Mon, 17 Jun 2019 10:48:19 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.2 https://mindanaogoldstardaily.com/wp-content/uploads/2018/03/cropped-GSD-Browser-icon-32x32.png Money Matters – Mindanao Gold Star Daily https://mindanaogoldstardaily.com 32 32 Uy refers Agora vendors’ plea to council’s eco body https://mindanaogoldstardaily.com/uy-refers-agora-vendors-plea-to-councils-eco-body/ Mon, 17 Jun 2019 20:25:46 +0000 https://mindanaogoldstardaily.com/?p=98200 Cagayan de Oro City Vice Mayor Raineir Joaquin V. Uy has referred to the City Council committee on economic enterprises chaired by Councilor Ian Mark Q. Nacaya for appropriate action the letter of The United Muslims and Christians Vendors Organization (UMCVO-CDOC) earnestly requesting for a resolution to facilitate the reduction of stall rental fees and ...

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Cagayan de Oro City Vice Mayor Raineir Joaquin V. Uy has referred to the City Council committee on economic enterprises chaired by Councilor Ian Mark Q. Nacaya for appropriate action the letter of The United Muslims and Christians Vendors Organization (UMCVO-CDOC) earnestly requesting for a resolution to facilitate the reduction of stall rental fees and provision of comfort rooms for the tenants and other rentable spaces at Agora New Market City.

The members of UMCVO expressed their plea thru a resolution and a signature campaign after their previous letter-complaint to the management of the public market sent two years ago was not acted upon up to this time.

As narrated by its president Janal M. Handag, the costly stall rentals and comfort room fees along with the penalties and charges imposed to them are no longer bearable on their part considering the low sales they are experiencing for quite some time.

“Murag dili na kami kapanginabuhi kundi ang nagdumala lang ang among gibuhi,” the letter reads in part.

Their families, especially their children, are directly affected by this suffering as some of them can hardly go to school anymore due to financial distress, Handag further said.

With the latest news that the Agora New Market City will soon be turned over to the city government, its officers and members are hoping that this perennial problem will finally be given a due and favorable solution the soonest time possible. (SP)

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GCash leads in building its digital fiscal services https://mindanaogoldstardaily.com/gcash-leads-in-building-its-digital-fiscal-services/ Mon, 17 Jun 2019 20:24:11 +0000 https://mindanaogoldstardaily.com/?p=98202 GCash, operated by Globe Fintech Innovations Inc. (Mynt), has taken a bolder step to bring its digital financial services closer to more Filipinos, aiming to marry the Filipino’s tech-savvy lifestyle and the growing need for financial inclusion. As a leading architect of the future, GCash strives to brings its brand of service to everyone in ...

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GCash, operated by Globe Fintech Innovations Inc. (Mynt), has taken a bolder step to bring its digital financial services closer to more Filipinos, aiming to marry the Filipino’s tech-savvy lifestyle and the growing need for financial inclusion.

As a leading architect of the future, GCash strives to brings its brand of service to everyone in the country. The telco-agnostic app leads in the digital realm, as it continues to enable more Filipinos to participate in the digital economy.

GCash has made financial technology (fintech) services readily available for over more than 20 million Filipinos so far, and it continues to do so even for Smart, Sun, and TNT subscribers.

“Increasing enablement by adopting a telco agnostic strategy allows us to bring finance to all. By providing quality service via our breakthrough technology and adapting to the changing consumer behavior, we are helping more and more Filipinos to have access to digital finance that were previously not available to them,” Mynt President Anthony Thomas said.

Smart, Sun, and TNT subscribers have been enjoying the benefits of the GCash platform since late 2018, affording them access to a variety of digital finance tools including pioneering digital payments, remittances, credit, investments, and insurance, among many others.

The hassle and worry-free financial experience is available for all, regardless of their mobile networks.

“It’s not just about being able to provide an efficient experience with the GCash app, it’s about what we’re building. We have built an easy-to-navigate and reliable platform that is open for all, and we continue to innovate to provide more financial services especially to the unbanked and underbanked Filipinos,” Thomas said.

The GCash app democratizes the banking experience, as users nationwide can open savings accounts, not needing to worry about the numerous papers and arduous process often required by formal banks. GCash also continues to make life easier for the Filipino by enabling bills payment with just a swipe on their mobile phones.

Another first in the country, the app has even partnered with local government units to introduce a cashless payment system for barangay fees, including expenses for local permits and certificates, IDs and clearances, with just a scan of their QR codes using the GCash app.

With more than half of the country’s population owning a smartphone, and only 31 percent maintaining a formal bank account, GCash seeks to synthesize the Filipino’s tech-savvy culture and the need for financial services.  (PR)

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BOC-MCT posts P681-m surplus collection for May https://mindanaogoldstardaily.com/boc-mct-posts-p681-m-surplus-collection-for-may/ Mon, 17 Jun 2019 20:23:46 +0000 https://mindanaogoldstardaily.com/?p=98204 By BEN BALCE Staff member . Despite of the speculated and possible decrease of revenue collection during lean months, the Bureau of Customs (BOC) Port of Mindanao Container Terminal still its revenue collection for June is on track, as it underscored the May surplus collection of P681.29 million. “The actual collection on May is P2,111,988,561.00. ...

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By BEN BALCE
Staff member .

Despite of the speculated and possible decrease of revenue collection during lean months, the Bureau of Customs (BOC) Port of Mindanao Container Terminal still its revenue collection for June is on track, as it underscored the May surplus collection of P681.29 million.

“The actual collection on May is P2,111,988,561.00. This is 47.62 percent increase higher from the monthly collection target of P1,430,719,950.00,” said BOC-MCT Collector John Simon.

Simon said the port even posted a collection of P1.09 billion, which is 90.17 percent higher from P1.04 billion collection target for the month of April this year.

“April means a total surplus collection of P938.50 million, the highest collection recorded in the entire ports in the country,” Simon said over a phone interview on Monday.

In his collection report Simon added the May revenue collection in MCT port was “substantially higher” than the amount collected in the same month of 2018.

Simon told the Gold Star Daily that from January to May collections this year are also higher compared to the collections during the same months last year.

“This collection performance is made possible, credited to the men and women of the Port of MCT,” said Simon.

He  added that even April and May were considered “lean months” in all ports, still the unrelenting effort of their men to help the government in collecting the revenue needed in order for it to continue serving the Filipino people.

As the economy of Cagayan de Oro City and Northern Mindanao remain bullish, Simon is hoping that more volume of imported goods will arrive via MCT port and translate such activities with more revenue collection out of duties and taxes paid by importers.

“Despite of theorized of low collection, after several seizure operations against illegal entries in the said months (April and May), we broke that theory,” he said.

Simon also said that they are still hoping that they will have a better volume of entries filed in the remaining half of the month of June.

As of May this year, Mindanao Container Terminal (MCT) Sub-Port has the actual total collection of P8,420,486,641,00, an increase of P2,495,484,841.00.

Simon attributed the revenue collections to the volume of oil importation, San Miguel equipment for its expansion in Tagoloan and rice importation because of tarrification bill.

“A lot of consumer products that may have been useful for May collections. Unusual increase in the volume of traditional products imported in the same period,” said Simon.

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SEC to file criminal charges vs. Kapa over alleged scam https://mindanaogoldstardaily.com/sec-to-file-criminal-charges-vs-kapa-over-alleged-scam/ Sun, 16 Jun 2019 20:25:35 +0000 https://mindanaogoldstardaily.com/?p=98175 By NITZ ARANCON Correspondent . Securities and Exchange Commission (SEC) on Thursday said it intends to file criminal charges against Kapa-Community Ministry International, Inc. (KAPA) and its officials for operating an alleged fraudulent scheme which it considers as the biggest investment scam ever seen in the country. This, after the Court of Appeals issued a ...

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By NITZ ARANCON
Correspondent .

Securities and Exchange Commission (SEC) on Thursday said it intends to file criminal charges against Kapa-Community Ministry International, Inc. (KAPA) and its officials for operating an alleged fraudulent scheme which it considers as the biggest investment scam ever seen in the country.

This, after the Court of Appeals issued a freeze order last June 4 on several banks accounts and other assets linked to KAPA upon the petition of the SEC and the Anti-Money Laundering Council (AMLC).

Securities and Exchange Commission (SEC) Northern Mindanao Regional Director Renato “Rene” Egypto  said that SEC, has now been working on all documentary evidences, in order to use the Criminal case, against KAPA founder Pastor Joel Apolinario.

Egypto, whose office in SEC Manila, has filed a lawsuit against Apolinario, and other KAPA officials, including their satellite office in Igpit Opol Misamis Oriental and Valencia City Bukidnon.

Egypto, Apolinario and KAPA officials, will file a violation of the Republic Act. 8799, the so-called Securities Regulation code of the Phils.

However Egypto said that the SEC, did not file Estafa’s case against Pastor Apolinario and fellow officers.

“Kadtong mga membro sa KAPA  mahimo sila nga ma-oy mo-file sa kasong Estafa kon  dunay ilang reklamo,”said Egypto.

Egypto said that they visited all the offices of KAPA in Mindanao, because they allegedly collecting money from their members and without go ahead with the SEC.

According to Egypto, Kapa has no primary license called “Profit Corporation Licence”, and no “Certificate of Authority”, from the SEC.

“Dili igo nga narehistro,  ang usa ka organization sama sa Kapa, kinahanglan gyud dunay ilang  Profit corporation license ug Certificate of Authority, kon mo-engage sila sa pagpangolikta ug kuwarta gikan sa ilang mga member,” said Egypto.

Egypto explained that Kapa, could not return to their operations, especially when the Sec manila filed a case against Apolinario and his colleagues.

Egypto calls on the the public that before investing in any investment, they would first check if the Organization has a SEC registration.

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Xavier Ateneo among best accountancy schools in PH https://mindanaogoldstardaily.com/xavier-ateneo-among-best-accountancy-schools-in-ph/ Fri, 14 Jun 2019 20:25:02 +0000 https://mindanaogoldstardaily.com/?p=98125 Xavier University – Ateneo de Cagayan ranked 10th top-performing accountancy school in the Philippines, based on the results of the May 2019 Certified Public Accountant Licensure Exam (CPALE). Xavier Ateneo Accountancy garnered a passing rate of 27.78% after 15 out of 54 examinees passed the said exam. Only schools with at least 50 examinees were ...

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Xavier University – Ateneo de Cagayan ranked 10th top-performing accountancy school in the Philippines, based on the results of the May 2019 Certified Public Accountant Licensure Exam (CPALE).

Xavier Ateneo Accountancy garnered a passing rate of 27.78% after 15 out of 54 examinees passed the said exam.

Only schools with at least 50 examinees were qualified for the ranking of top accountancy schools in the country by the Professional Regulatory Commission (PRC).

In his memo to the academic community, university president Fr Roberto “Bobby” C Yap SJ congratulated the 15 new Xavier Atenean CPAs.

Yap also thanked the people behind this latest feat of the university: “We thank School of Business and Management dean Dr Ruth Love V Russell, Accountancy Department chairwoman Estela S Ganas, and the faculty and staff of SBM for their guidance and support for our students.”

Xavier Ateneo is one of the two Mindanao universities to have been included in the top 10 list.

PRC reported that only 1,699 out of 10,319 passed the CPA board last month, reaping a national passing rate of 16.47%.

The CPALE exam was conducted by the PRC Board of Accountancy in the cities of Manila, Baguio, Cagayan de Oro, Cebu, Davao, Iloilo, Legazpi, Tacloban, and Tuguegarao. (PR)

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PCA moves to curb falling copra prices https://mindanaogoldstardaily.com/pca-moves-to-curb-falling-copra-prices/ Fri, 14 Jun 2019 20:24:45 +0000 https://mindanaogoldstardaily.com/?p=98129 By LITO RULONA Correspondent . Philippine Coconut Authority-10 (PCA-10) on Thursday moved some immediate solutions to resolve the very low prices of copra, a major issue facing the coconut sector for the past years. PCA-10 information officer Ralph Marcel Estaño said the issues on low prices of copra has been initially address in so many ...

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By LITO RULONA
Correspondent .

Philippine Coconut Authority-10 (PCA-10) on Thursday moved some immediate solutions to resolve the very low prices of copra, a major issue facing the coconut sector for the past years.

PCA-10 information officer Ralph Marcel Estaño said the issues on low prices of copra has been initially address in so many ways during the Talakayan sa Philippine Information Agency (PIA) held at SM Uptown on Thursday afternoon.

He said among the remedies that they are now undertaking is the poverty alleviation of the coconut farmers, climate change adaptation and the so called economic and sustainable growth for the farmers and industry.

“Under sustainable growth is fertilization that will help the growth production and income of the coconut farmers. As a whole, molambo og dako balik atong coconut industry. Every year, a salt fertilization program is made,” he said.

PCA has given free “agricultural grade salt” to the coconut farmers to spread two kilos of salt to every coconut tree which become resilient during summer and heat season.

Estaño said they also promote inter-cropping by providing high-yielding and high-value crops like cocoa, coffee, corn. PCA has also distributing high-value seeds to coconut farmers and avoid mono-cropping.

“Coconut farmers is also now encouraged to engaged cow, goat and livestock fattening and management integration. Wala na kita magsalig karon sa copra but also engaged in coconut processing,” he said.

PCA will also provide processing machine to organize coconut farmers as other option for income earning industries. Among other processing products were virgin oils, coconut sugars, coco nets and other ornamental products.

Estaño said the best move made by Department of Agriculture Secretary Piñol passing a resolution addressed to the President asking him to direct the National Biofuels Board (NBB) to increase the biodiesel component from 2 percent to 5 percent.

Since the previous years, coconut stakeholders have been calling on the government for the production of the five-percent biodiesel blend (B5) which can help address the problem of plummeting copra prices.

Biodiesel is a blend of diesel fuel and coconut methyl ester, a derivative of coconut oil. The country’s current biodesel blend is only two-percent Coco Methyl Ester (CME) and 98-percent regular diesel.

In Southeast Asia, the Philippine biodiesel has the lowest percentage of vegetable oil mixed with regular diesel. Malaysia and Thailand have at least seven percent and Indonesia has as much as 20 percent of CME in their mix.

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Simon wants all info on ‘banned canned goods’ https://mindanaogoldstardaily.com/simon-wants-all-info-on-banned-canned-goods/ Wed, 12 Jun 2019 20:25:44 +0000 https://mindanaogoldstardaily.com/?p=97991 By Edwin Iyo Correspondent . Bureau of Custom Sub Port Collector John Simon is kicking into high gear its ban on the China-manufactured luncheon meat “Ma Ling” and he even wanted complete information to do it on the reported illegal entry of the banned processed pork meat at the Mindanao International Container Port. “I need ...

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By Edwin Iyo
Correspondent .

Bureau of Custom Sub Port Collector John Simon is kicking into high gear its ban on the China-manufactured luncheon meat “Ma Ling” and he even wanted complete information to do it on the reported illegal entry of the banned processed pork meat at the Mindanao International Container Port.

“I need complete information and customs have to do it with the help of concerned agencies of the government,” said Simon.

Earlier, the Food and Drug Administration (FDA reiterated its temporary ban on the importation, distribution, and sale of all processed pork meat products from countries suspected to be affected by the African swine fever (ASF) virus.

Based on an FDA order from September last year, these countries include those from China, Hungary, Latvia, Poland, Romania, Russia, Ukraine.

Simon reiterated that he also wanted more information on the reported entry of banned canned goods here in our area.

Simon said that even it is the responsibility of the other concerned agencies still they have to notify them so that they can act together and coordinate together on the matter.

“Together with the FDA and their orders, an immediate bust operation will be conducted,” said Simon, adding, “tell them that I will help them as I will immediately coordinate with the FDA.”

He even needs complete details about the supposed presence of banned canned good in the local markets.

The Northern Mindanao Hog Growers Association president Benjamin Albarece said undetermined kilograms of canned good from China reportedly which infected with African Swine Fever virus allegedly found at the Mindanao International Container Terminal MICT in Tagoloan town.

Albarece admitted that even the processed food like Ma Ling is under the jurisdiction of Food and Drugs Administration still the office of the Bureau of Custom can help a lot.

“As part of its job, FDA is supposed to conduct surveillance. The problem of FDA is the enforcement. Collector  Simon can definitely help FDA,”  said Albarece.

In a text message, Albarece opines that Simon can check that out or possibly ask the National Veterinary Quarantine Services. Or, the FDA.

“I am willing to talk to him (Simon) kung unsa iyang gikinghanlan,” Albarece added.

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Vendors ask council to halt increase in stall fees https://mindanaogoldstardaily.com/vendors-ask-council-to-halt-increase-in-stall-fees/ Tue, 11 Jun 2019 20:25:35 +0000 https://mindanaogoldstardaily.com/?p=97946 By LITO RULONA Correspondent . Some 300 vendors belonging to United Muslim and Christian Vendors Organization (UMCVO) based in Agora Market City asked help from the city council to “freeze” the impending stall increase and provide additional comfort rooms inside the market premises. In a complaint letter submitted to the city council on Monday, UMCVO ...

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By LITO RULONA
Correspondent .

Some 300 vendors belonging to United Muslim and Christian Vendors Organization (UMCVO) based in Agora Market City asked help from the city council to “freeze” the impending stall increase and provide additional comfort rooms inside the market premises.

In a complaint letter submitted to the city council on Monday, UMCVO president Janal Hamdag said they asked help from the city council through City Councilor Ian Mark Nacaya, chairman of the City Council’s Committee on Economic Enterprise and Market to facilitate their request.

“This request was long overdue considering nga kaniadto pa kini sa 2017 but the management of Agora Market City and the CEED management dili gyud makig-atubang kanamo mao nga mianhi kami diri sa city council para tabangan,” he said.

He said they had already send letter signed by the entire members of the vendor association to Mr. Bryan See, Agora Market City manager since 2017 asking the “freeze” the scheduled stall rental increase since their daily earnings is not enough to pay the daily rent.

“Wala man gyud kami niya (See) tubaga mao nga nag-request na gyud kami og tabang from the city council,” he added.

Hamdag said they had also sent letter request to Agora Market City Manager Melchor Lagura last January 31, 2017 but to no avail. They made another the letter request following a general assembly meeting of UMCVO dated November 16, 2017 to make a signature campaign. But still to no avail.

“Sa among gabayaran nga P313 kada adlaw murag dili na kami mabuhi apan ang nagdumala lamang ang among gibuhi,” he said.

On March 11, 2018, there was a management order to “freeze” the increase of the stall rentals but only implemented to those declared as victims and re-locators of Marawi Seige.

Hamdag said those who were not included on the selective freezing of stall rentals has been experiencing penalties and surcharges on the stall rentals.

“Kung dili kami motuman sa pagbayad sa among obligasyon sa stall rentals, light and water sa due date, automatic padlocked ang stall apil ang pagputol sa kuryente og tubig. Kung mopadangat kami sa among reklamo, tubagon lamang kami nga daghan pa ang gusto mo-renta sa maong lugar,” he pointed out.

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Implementation of Cattle Multiplier project in five brgys in the offing https://mindanaogoldstardaily.com/implementation-of-cattle-multiplier-project-in-five-brgys-in-the-offing/ Tue, 11 Jun 2019 20:24:21 +0000 https://mindanaogoldstardaily.com/?p=97948 implementation of the Department of Agriculture’s Livestock Farm Project in the Cagayan de Oro is in the offing. The City Council during its regular session Monday, enacted an ordinance authorizing Mayor Oscar S. Moreno to enter into and sign the Memorandum of Agreement (MOA) with the DA; the Liga ng mga Barangay–Cagayan de Oro City; ...

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implementation of the Department of Agriculture’s Livestock Farm Project in the Cagayan de Oro is in the offing.

The City Council during its regular session Monday, enacted an ordinance authorizing Mayor Oscar S. Moreno to enter into and sign the Memorandum of Agreement (MOA) with the DA; the Liga ng mga Barangay–Cagayan de Oro City; the Barangay Local Government Units of Balubal,  Cugman, F.S. Catanico, Indahag and Tablon.

The MOA provides that the parties shall implement a policy of self-sufficiency in food production through the Livestock Multiplier Farm to augment the meager livestock resources of small hold farmers in the countryside for the global reduction of extreme hunger and poverty.

Pursuant to this, the DA-Regional Field Office-10 shall deliver and turn-over to the city government 50 heads of Cattle Heifer from the Northern Mindanao Agricultural Crops and Livestock Research Complex.

It shall conduct periodic monitoring and evaluation to ascertain the progress of the project and the proper utilization and compliance with the provisions of the agreement.

For its part, the city government shall take-up the animals in its Book of Accounts as transfer without costs and conduct the re-briefing of recipients as to the cattle production management. It shall likewise assist in the distribution of the animals to the barangay proponents and facilitate the taming and quarantine; necessary drugs-medicines and biologics for the good health and maintenance of the animals, among others.

Meanwhile, the barangay recipients shall identify qualified members of the existing farmer association in the barangay; take care of the animals at the barangay designated communal area for a maximum of one month and coordinate with the City Veterinary Office for the provision of necessary medicines, among others.

The legislation was endorsed by the committees on agriculture and fisheries chaired by Councilor Annie Y. Daba and on laws and rules with Councilor Zaldy O. Ocon, vice chair. (sp)

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Oro farmers to benefit DA project https://mindanaogoldstardaily.com/oro-farmers-to-benefit-da-project/ Tue, 11 Jun 2019 20:23:38 +0000 https://mindanaogoldstardaily.com/?p=97975 FARMERS in Cagayan de Oro City will benefit another project from Department of Agriculture (DA). Through an ordinance, the 18th City Council during its regular session presided over by Vice Mayor Raineir Joaquin V. Uy authorized City Mayor Oscar Moreno to enter into and sign the Memorandum of Agreement (MOA) with the DA-Regional Field Office-10 ...

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FARMERS in Cagayan de Oro City will benefit another project from Department of Agriculture (DA).

Through an ordinance, the 18th City Council during its regular session presided over by Vice Mayor Raineir Joaquin V. Uy authorized City Mayor Oscar Moreno to enter into and sign the Memorandum of Agreement (MOA) with the DA-Regional Field Office-10 covering the grant of two units water pumps and engines.

It may be recalled that both international and local weather agencies officially declared that the weather phenomena, El Niño, is active.

It was learned that the DA is undertaking measures to mitigate the negative effects of El Niño to complement the local government unit’s mitigation measures.

The DA has an inventory of pumps and engines procured under the 2016 El Niño Funds, for distribution to the LGU under the machinery/equipment pool scheme.

Under the MOA, the DA shall issue a journal entry voucher or property transfer report, whichever is applicable, for the transfer of the equipment as prescribed under existing laws, among others. (SP)

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