BusinessWeek MINDANAO
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Volume IV, No. 94
Market Indicators As of 5:59 pm Apr. 25, 2014 (Friday)
FOREX
PHISIX
US$1 = P44.64
6,685.10 points
X Briefly
46.23 points
X
7 cents
Malaysian investors KIDAPAWAN CITY – Malaysian consul general Abdullah Zawawi Tahir said many Malaysian businessmen are planning to invest in the oil palm production in the city and in other parts of North Cotabato. Tahir, who arrived here on Friday, said one of the issues he discussed with Kidapawan City Mayor Joseph Evangelista was on how they could help each other in terms of agricultural development. Evangelista said the city government invited the Malaysian consul general to explore opportunities for investments from Malaysia, especially in agriculture and tourism. “A meeting is scheduled anytime this year with prospective investors,” the mayor said.
DOLE expands DOLE Phils. Inc, a multinational fruit processing company, is eyeing some 400 hectares for its papaya plantation expansion program this year. In a meeting with some 300 papaya growers, George Paez, Dole Phils. director for agriculture, said their company was mulling the expansion of its papaya plantation due to increasing demand in the international and domestic market. He said Dole is increasing its production of canned tropical fruit cocktail products, in which papaya is one among the ingredients. In 2013, Dole engaged in contract growing in some 340 hectares of papaya plantation in several areas in South Cotabato.
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PPI marks 50th year with two-day fete THE Philippine Press Institute, also known as the association of Philippine newspapers, will celebrate its 50th anniversary with a two-day commemorative event slated to unfold on May 1 at the Traders Hotel in Manila. Former President Fidel V. Ramos will be the keynote speaker for the 18the season of the Civic Journalism Community Press Awards. Dubbed “PPI@50 and Beyond,” this year’s PPI golden anniversary theme calls to mind the national newspaper association’s collective and individual
feats as well as the enormous cha l l e nge s f a c i ng t he Philippine press. The spate of journalist killings that continues to alarm both local and international media groups and human rights advocates, newspaper viability in the increasingly digital era, t h e mu ch - ant i c ip ate d passage of the long-overdue Freedom of Information bi l l, and p o or me d i a compensation and working conditions alongside the need to professionalize the journalists ranks are some of the issues that continue ppi/PAGE 7
Monday | April 28, 2014
P15.00
New coal projects seen to stabilize electricity rates
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MAJOR player in coal-fed power plants in Mindanao expects electricity rates to approximate those enjoyed now in the region once these facilities become operational. During a seminar on the Philippine electricity market last week, Conal Holdings Corp vice president Joseph C. Nocos said the coal plants in the pipeline will provide Mindanao sufficient reserves once operational. “ The Department of Energy (DOE) is expecting that the reserve situation
will actually improve in May, the outlook is good because it has now assessed that we will have a positive variance between supply and demand in the Mindanao grid,” Nocos said. “And this positive variance will be coming mainly from committed power projects, we have several hydro-electric
projects, there’s a couple of small nuclear power plants that are being built, there are now two coal-fired power plants that are under reconstruction,” Nocos added. Committed projects are the ones that are in motion, both in construction and have undergone cost and finance with their arrangement. Among other sources, biomass is also expected to contribute to the supply of energy. Overall, the Mindanao region is dominated by coal coal/PAGE 7
Surigao provincial dads set probe on ‘overpriced’ gensets By ROEL CATOTO, MindaNews
RE PROSPECTS. Mindanao Development Authority Assistant Secretary Romeo Montenegro III talks on the prospects of renewable energy in the island at the sideline of the 9th Mindanao Media Summit in Davao City last week. The summit tackled how media can effectively communicate the impact of climate change in Mindanao. mindanews photo by h . marcos c . mordeno
SURIGAO City -- An expert is set to appear before the provincial board on Monday as a resource person on the alleged overpriced modular generator sets that will be purchased by the Surigao del Norte Electric Cooperative,
Inc. (Surneco), Board member Myrna Romarate said they invited Eng r. R ob er to L ozad a, w ho e arlier told radio stations here that the P205 million approved by the National Electrification
Administration (NEA) for the purchase of five units of modular generator sets is too much. Engr. Narcisco I. Caliao, Jr., Surneco general manager, has rebutted Lozada’s claim, saying the bidding process is still on going. overpriced/PAGE 7
NGCP, electric coop bring Aboitiz firms bag awards light to Bukidnon school TWO hundred and thirtyfive students from Labuagon Elementary School in Kibawe, Bukidnon will no longer have to study in the dark. Through the assistance of National Grid Corporation of the Philippines (NGCP) and First Bukidnon Electric
Cooperative, Inc. (FIBECO), the school finally has electric connection last March 25. NGCP extended financial assistance for the purchase of construction and house w ir ing mater ia ls w hi le FIBECO provided free labor ngcp/PAGE 6
for corporate governance LISTED companies Aboitiz Equity Ventures, Inc. (AEV) and Aboitiz Power C or p oration (AboitizPower) capped the first quarter on a positive note with several prestigious cor p orate gover nance awards f rom regional publication Corporate Governance Asia. At the 4th Corporate Governance Asia Asian Excellence Awards last April 3 at the Renaissance Harb ou r Vie w Hotel, Hong Kong, Erramon I. aboitiz/PAGE 6
Mailene de la Torre, AEV Associate General Counsel; Susan Valdez, AEV Chief Reputation & Risk Management Officer, and Catherine Atay, AEV AVP-Corporate Secretarial & Compliance Services with Aldrin Monsod, CorpGovAsia Publisher & Managing Director.
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