BusinessWeek Mindanao (September 1, 2014)

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BusinessWeek MINDANAO 2 cents

Best in Business and Economic Reporting

Philippine Press Institute Civic Journalism Community Press Awards 2013

Volume V, No. 37

www.businessweekmindanao.com

FOREX

PHISIX 7,050.89 points

X Briefly 49.81 points

X

12 cents

Alson’s power plant ALSONS Power’s Sarangani Energy Corp.(SEC) will soon commence final installation work of critical segments of the $570-million power facility power plant at Barangay Kamanga, Maasim in Sarangani Province. These include the plant’s steam turbine generator, main control building, permanent jetty, smoke stack, transformer, and coal storage. Most of the major equipment for its first phase already on site, The SEC coal plant’s initial output of 105 MW by October of 2015 will provide power for roughly 3.47 million people from Sarangani Province, General Santos City, Iligan City, and key areas in South Cotabato, Compostela Valley, Agusan del Norte, Agusan del Sur and Davao del Norte. Another 3.8 million residents of Cotabato, South Cotabato and Zamboanga del Norte will also benefit from the project once it runs its full 210MW capacity in 2016, as projected.

By SAMMY F. MARTIN, Philippine News Agency

which would earmark and appropriate the proceeds of the privatization and sale of the old Lumbia Airport in Cagayan de Oro City to

finance the MRS project. “With the opening of the Laguindingan International Airport in Laguindingan, Misamis Oriental in June last year, the old Lumbia Airport is not being used anymore,” the Rodriguez brothers revealed. The authors noted reports that the Lumbia Airport will be privatized through a public process in accordance with fund/PAGE 15

HEADLINING the agenda of t he 2 3 rd Mi nd an a o Business Conference next month are delegates from the academe, business sector, and government agencies that will help lay the foundation for this year’s theme, “Growth Beyond Convergence.” This conference, hosted by the General Santos City Chamber of Commerce and Industry and the Sarangani Chamber of Commerce and Industry, Inc. will be held on September 1-3 in General Santos City, at KCC Mall. With the integration of the Association of South East Asian Nations (ASEAN) next year, the conference will tackle issues considered crucial for Mindanao business relating to the economic integration of the region. These delegates from different sectors will discuss

important issues on the ASEAN market, multilateral trade agreements, food and energy security, trade and finance, intellectual property and geopolitical challenges. According to Sarangani Governor Steve Chiongbian Solon – one of the keynote speakers of the event – “The theme of this year’s conference highlights the need to level-up from the unity and cooperation that Mindanao has achieved, into becoming more aggressive in gaining global competitiveness.” The conference will allow stakeholders from both private and public sector to exchange views and ideas on how ASEAN economies can benefit from highly competitive international economy, he said. Conference/PAGE 15

WO lawmakers from Mindanao are eyeing the proceeds of the sale of an old airport to fund Mindanao Railway System (MRS) that can entice investors both local and foreign.

KAAMULAN FESTIVAL. Manobos from Quezon, Bukidnon perform an ethnic dance during the tribal sports fest in Malaybalay City last week as part of the month-long Kaamulan and centennial celebration of the province. mindanews photo by h . marcos c . mordeno

Rep. Rufus Rodriguez and his brother, Abante Mindanao party-list Rep. Maximo Rodrguez are pushing for the enactment of HB 4059

Cruise rally DAVAO DEL Norte -- The Island Garden City of Samal (IGACOS) will be the jump off point of an international cruising event this September. Sail Sangihe, an international cruising rally organized by the Indonesian government, will kick off at Holiday Oceanview Marina, IGACOS on September 3. Malen Faune, officer in charge for sales and marketing of Holiday Oceanview Marina, said that since 2012, the Indonesian government conducts a yearly cruising rally to showcase its festivities and the Raja Ampat islands in West Papua. “We are glad that the Indonesians chose Samal to be their starting point,” she said.

P15.00

Lumbia sale eyed to fund railway system T

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As of 5:55 pm August 29, 2014 (Friday)

US$1 = P43.59

Monday | September 1, 2014

STREET DANCE. Participants dance during the first day of the two-day Kaamulan street dancing in Malaybalay City on August 30, 2014. Bukidnon’s 20 towns and two component cities are participating in the event as one of the highlights of the province’s centennial celebration. mindanews photo by froilan gallardo

Power interruption persists due to right-of-way violators: NGCP THE National Grid Corporation of the Philippines (NGCP) warns that power outages may persist in areas with perennial Right-of-Way (ROW) problems. The 26.5-kilometer BaloiMarawi 69-kilovolt (kV) line in Lanao del Norte, which transmits power to Lanao del Sur Electric Cooperative

(LASURECO) and Mindanao State University (MSU), frequently trips due to vegetation growing beneath it. According to reports, residents living near the line intentionally plant trees along the line, ignoring the warnings of NGCP on the negative effects of such action

Mindanao biz conference to tackle Asean integration

on power transmission. “Because of these ROW violators, the line tripped eight times in the month of June which lasted from 40 minutes to almost five hours. In the end, it is the consumers who suffer,” said NGCP president and CEO Henry Sy, Jr. power/PAGE 15

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