LGUs urged to develop adventure tourism niche

By Ehda M. Dagooc
Tuesday, September 30, 2008

The Department of Tourism sees adventure tourism as another emerging revenue stream for Cebu with the potential of its nature-based sites.

Both the local government units and the private sector in Cebu are urged by DOT to capitalize on the province’s adventure tourism potential.

DOT secretary Joseph "Ace" Durano said this tourism component could usher in opportunities for capitalists as tourists nowadays are now more interested on adventure-type activities in the Philippines.

In the United States, adventure tourism is a US$450 million industry.

The Philippines, which has ample sites to develop for this type of tourism component, is seen to generate more tourism revenue from this while providing local residents, especially rural people with livelihood from tourism revenues.

Cebu for instance, according to Durano has not yet maximized its potential in providing adventure or nature-based tourism activities, describing it as "still very small scale", unlike other places in the Philippines, specifically Palawan.

Durano urged LGUs in Cebu, and private sector players to start capitalizing on this avenue, as every town in the province has all the resources to develop its own "adventure tourism" attraction, may it be trekking, bird watching, island hopping, caving, among others.

"This is not a capital intensive investment. Part of the adventure is to preserve the authenticity of the place, and its culture. Thus, there is a need for LGUs and the private sector to partner in this area," Durano said in an interview over the weekend.

For DOT, Durano said there is an existing program of which part of the component is to equip LGUs in taking advantage of its nature-based sites to develop “adventure tourism" attraction, via its Grassroots Entrepreneurs for Eco-Tourism (GREET) program.

Cebu, which has gained its prestige as the center for tourism in the Philippines, should immediately take advantage of this emerging tourism revenue stream for tourism, Durano said.

The secretary said that there are a lot of activities that will be developed into "adventure tourism" attraction from Southern to northern parts of the province, including the West.

Durano mentioned that the Toledo City area could develop a lot of adventure tourism activities, the town of Alegria should also develop caving and bird watching adventures, among other activities.

Durano said DOT will help LGUs in developing several activities that are geared towards adventure tourism, such as equipping the local residents and community in running such service.

In Bohol, DOT is actively cooperating with the LGUs to train and equip local people in tourism service exposure, as well as providing them with gears to start up an activity that will be part of tourists' come-on.

Durano emphasized that part of the adventure is to preserve the authenticity of the service, and activity itself, like a local resident should be in the front line, and speaking English with the local accent is already a good presentation.

Also, DOT will help LGUs to activate a very effective program in protecting the natural resources for sustainability of the sites, Durano said.

Durano, was the guest of honor during the formal opening of Islands Banca Cruises in Mactan Island, the first professionalized island-hopping service in Cebu that aims to jumpstart the development of adventure tourism in the Province.

Developers urged not to fret over the US subprime crisis

By Rhia de Pablo
Tuesday, September 30, 2008

Troubled with the impact of the US financial crisis which resulted from the previous housing bubble, Filipino developers are urged by Vice President and Housing and Urban Development Coordinating Council chairman Noli De Castro to continue investing on residences for the Filipinos.

Along with this plea, De Castro announced the good news in the recently concluded Housing National Developers Convention and Exhibition held in Cebu that the price ceiling for socialized housing package will be increased from P300, 000 to P400, 000 as a new order will soon be out.

De Castro said that despite woes in the United States about recurring financial situations caused by the bubble in its housing sector, Filipino developers still have several reasons to be joyful.

He said that despite the increase of the price ceiling of the socialized housing package, Pag-Ibig will still continue to provide the six percent interest of every minimum housing loan so that they can maintain the consistencies of their policies to make housing accessible to many Filipinos.

He said that they are “on track” in keeping interest rates at the lowest under any government housing institution.

“Crisis is still far from over and this year still continues to be challenging for us but as we continue to see these global developments of financial crisis we should not be alarmed because with our partnership and policies on housing the sector still have reason to remain optimistic,” De Castro pointed out.

He also noted that the increased loan allocation of the Housing Development Mutual Fund (HDMF) otherwise known as Pag-Ibig will give developers good reason to continue building houses as they are assured that these will be taken out.

De Castro said that from last 2001’s P10 billion allocation, Pag-Ibig has been given P30 billion loan allocation this year and that they have exceeded the P15 billion marks for guaranteed housing loans already.

“We have been able to cut red tape on the housing permit processing and we have already started implementing the instruction of the President’s SONA that SSS and GSIS should increase its investment for housing,” he said.

There is no crisis in the past that the Filipino people are not able to overcome. Now, will we expect a slowdown in the sector with these economic crises at hand? We have gone through mistakes in our past and we have leaned from these mistakes so the housing sector is stronger and we know better,” he said.

He added that with the collapse of our United Housing Lending program in the past as well as the asset participation certificates (AFC), the sector should now be able to manage risks and be able to take prudent measures.

Other future plans that the Government will pursue that will be beneficial to the housing sector will be the issuance of the first mortgage backed securities and the review of housing policies for loopholes, he said.

“Building and owning a home is not just a matter of personal investment but it’s a part of fulfilling a dream Everything is in place to keep the housing sector moving forward and it’s now up to the sector kung maduduwag tayo sa financial crisis (if we will be afraid of the financial crisis),” the vice president said.

FLI proposal for SRP not yet approved

Tuesday, September 30, 2008

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Cebu City Mayor Tomas Osmeña yesterday said that once Filinvest Land Inc. will start developing a portion of the South Road Properties this will surely spur economic development for Cebu.

But the mayor however said that the multi-billion peso business proposal of FLI is not yet “good as approved” although the city government and company have already gone through dozens of discussions.

Although the mayor has not yet approved the proposal, he said that the basic thrust of SRP is to create an entertainment/lifestyle venue that would induce the rich and famous people in other parts of the country or abroad to make Cebu as their second home.

FLI’s proposal to invest at least P80 billion in the SRP complements such thrust as it will build high-rise hotels, residential buildings or condominiums, a medical and retirement facility, and commercial areas, among others.

“It is easy to invest where they live,” the mayor said.

Another thrust of the SRP is to create an environment wherein the rich residents, who will be living in the high-rise structures, do not have to bring their own cars.

Osmeña said that the city will establish a transportation system, wherein new air-conditioned buses will be used to transport the residents in going places within and outside the SRP.

Air-conditioned buses will also be provided if the residents will go the airport. Such will also be provided motorcycle cops and personnel from the Special Weapons and Tactics to ensure the safety of these residents.

“Anyone who invests at SRP is actually lucky. That’s why we are very selective on what are the investments that will be put up at SRP. We are packaging here the future of Cebu,” the mayor said.

FLI is one of the largest real estate companies in the Philippines. It is a publicly listed, full-range residential developer.

FLI’s is offering for an outright purchase of ten hectares worth P2 billion as it also offers a joint venture with the city government to develop a 50 hectare out of the 300 hectare SRP property.

The Cebu South Reclamation Project now called South Road Properties is a project of the government of the Philippines funded by a loan thru the Overseas Economic Cooperation Fund.

In 1995, Cebu City is designated as the implementing agency of the project and a sub-loan agreement was undertaken between the city government and the Land Bank of the Philippines.

The city government is paying P700 million this year as payment of its SRP loan. The city will be paying such amount until the next four years and its payment will be reduced to P250 million in the next 15 years.

So far, the only income of SRP is P25 million which represents the lease payment of Bigfoot for 25 years. — Mitchelle L. Palaubsanon /NLQ

China Bank Savings to put up 30 branches

Tuesday, September 23, 2008

China Bank Savings is looking to establish at 30 branches by 2010. In fact, it will be operating six by the start of 2009.

Four branches will be located in Metro Manila and another in Cebu. The sixth branch is already located in the former head office of Manila Bank in Ayala, Makati. The opening of the remaining 22 branches will be spread out next year until the end of 2010.

“We are very excited about China Bank Savings and the huge growth potentials in its identified market segments,” Samuel L. Chiong, senior vice president of China Banking Corp. (China Bank) and concurrent president of China Bank Savings, said.

China Bank acquired Manila Bank, with 75 branches (27 of which were operational at the time of acquisition), in June 2007. From December 2007 to February 2008, China Bank converted and integrated 20 of Manila Bank’s branches into the China Bank branch network, and closed and consolidated six branches with existing China Bank branches.

It will use the remaining branch licenses to expand the networks of both the main bank and the savings bank.

China Bank Savings is positioned to be an alternative to traditional banking.

Targeting entry level and start-up customers up to asset accumulators, the thrift and savings bank will be offering products and services that match different life stages like basic deposit products for those building up their savings, basic loan products to fund personal dreams or augment cash flow problems, investment products, and more.

It will be focused on the retail side of the business, offering banking products and services that the main bank will not, such as kiddie savings account or installment loans.

It also has a distinct image from the main bank as it targets a different niche, focusing more on the retail market. The savings bank will be projecting an image that is more vibrant, friendly, family-oriented, and accessible, to be conveyed in its logo, merchandising materials, and even its personnel.

For the meantime, it maintains the same product range offered by the acquired Manila Bank, with some modifications on the rates and/or terms. It will also continue to run on Infoserv banking system until the fourth quarter of this year, when it will be upgraded to the Dimension core banking system.

“We are replacing the existing technology to improve and enhance the thrift bank’s operations. It is our goal to consistently provide our customers with top-notch services and exceed their expectations, so we need not only the manpower but also the latest technology to make it happen,” Chiong said.

China Bank Savings will eventually expand its services to include phone banking, Internet banking, mobile banking, as well as offer products such as debit cards, special savings accounts.

Sterling Bank launches Visa credit cards

Tuesday, September 23, 2008

The Sterling Bank of Asia (Sterling Bank) has collaborated with Visa International to offer the New ShopNPay Visa debit cards.

The ShopNPay Visa debit card is the first EMV chip Visa debit card to be issued in the Philippines. The EMV chip is an added feature to the ShopNPay card that provides better security against fraud. It is more difficult to duplicate thus better protecting the cardholders from theft.

The ShopNPay Visa Debit card is an all-in-one account that offers the flexibility of a day-to-day transaction account with the added convenience of access to the Visa worldwide network or to any BancNet payment facility. It aims to change the way of paying for bills and purchases — the cashless way.

It also comes in a prepaid option, which can be loaded and used to make purchases everywhere Visa and BancNet cards are accepted. The debit card has increasingly been gaining popularity because of the convenience and security it offers cardholders. The ShopNPay card may also be used to make online purchases.

The Sterling Bank of Asia branches are located in the following locations: Ayala Avenue-Makati, Sen. Gil Puyat-Makati, Makati Avenue-Makati, Greenhills, Banawe, Masangkay-Binondo, San Fernando-Binondo, Ongpin, Grace Park-Caloocan, Valenzuela, Iloilo, Bacolod, Cebu-Fuente Osmeña, Cebu-Magallanes, Emerald Avenue-Ortigas, Davao-Monteverde and Quezon Avenue.