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Volume V, No. 48
Market Indicators
As of 5:46 pm sep. 25, 2014 (thursday)
FOREX
PHISIX
US$1 = P44.77
7,294.21 points
cents
61.08 points
X
X
31
Briefly P2.3-B CDO budget THE Department of Budget and Management (DBM) has approved the P2.3 billion budget of Cagayan de Oro and considers it operative since January 2014. This is contained in the review letter of DBM-10 regional director Annabelle M. Atillo, which was presented yesterday by Councilor President Elipe, chair of the City Council committee on finance and ways and means, in his special report. During the regular session presided over by Councilor Ramon Tabor, Councilor Elipe said the City Council headed by Vice Mayor Caesar Ian E. Acenas, received a letter from the DBM on the annual budgets of the General Fund and Special Accounts: Economic Enterprises (CEED Administration and Cogon market, Agora and IBT Components, Carmen Market Component, Puerto Market Component, Slaughterhouse Component, Westbound Terminal and Public Market, Eastbound Terminal and JR Borja General Hospital) for fiscal year 2014 of the city, involving appropriations of P2,068,691,490 and P236,885,059, respectively, approved by the Sangguniang Panlungsod on February 3, 2014.
Consumer welfare ILIGAN City -- The Department of Trade and Industry (DTI), Lanao del Norte Provincial Office recently held briefings on Consumer Welfare Desk (CWD) and Frontline Service for newcomer stores at its office in Pala-o, Iligan City. In attendance were 25 representatives from the different business establishments in Iligan such as Emerald 24/7 Convenience Store, Trade Mart Gen. Merchandise, 777 Marketing, DK Motor Hub, Tri-J Motor Parts, JBR Mercantile, Young’s General Merchandise, DJ Mart, Macapato Mini Hardware, Corona Top & Shop Store Inc., FC Giftshop, Centrica One International Co., Bomenah Selected Goods, LRE Construction Supply, Insana General Merchandise, The Look Boutique, Pinoy Mobile, JC Enterprise, Ched Coco Lumber & Construction Supply, SLY Cellshop, JMC Trading, Raid’s Store, Unicity General Merchandise and Unitop General Merchandise, all from this city. DTI Provincial Director Ruel B. Paclipan said that CWD and Frontline Service briefings provide valuable lessons to business establishments on the importance of having a consumer welfare desk that ultimately gives impact on sales generation, and augment the level of awareness on consumerism.
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Friday | September 26, 2014
P15.00
Filinvest tops bids for Mt. Apo supply deal T
By MYRNA M VELASCO, Contributor
HE FDC Misamis Power Corporation of the Filinvest group has won the bid for the selection and appointment of an independent power producer administrator (IPPA) for the 108-megawatt Mt Apo geothermal power plant, the Power Sector Assets and Liabilities Management Corporation (PSALM) said.
CLOUD NINE. Small waves cannot stop this local surfer from having fun in Cloud Nine, General Luna, Siargao Island yesterday. Organizers of the 20th Siargao International Surfing Competition postponed the contest to today due to small swells. mindanews photo by roel n . catoto
PSALM president Emmanuel R. Ledesma Jr. announced that the offer of FDC Misamis was at P128,000,888.88 – and this shall account for the monthly payment it shall remit to PSALM for the Mt. Apo plant’s IPPA arrangement. FDC edged out the P50million bid of SMC Global Power Holdings Corporation. “Only FDC met the reserve price set by the PSALM board,” Ledesma said, noting that such shall be subject “to the confirmation and
verification of the accuracy, authenticity and completeness of the documents submitted.” Of the 7 pre-qualified bidders, two submitted bids before the 12 noon bid submission deadline set by PSALM. Apart from FDC and SMC Global, the other bidders include: • Energy Development Corporation (EDC) Mindanao Geothermal Inc • GDF Suez Energy Philippines Inc • Therma Southern filinvest/PAGE 6
Coco farmers in Davao region want Gold-rush brgy residents go into farming community-based processing hub By JEANEVIVE D. ABANGAN Contributor
By MINDANEWS
DAVAO City— Coconut farmers in the region are asking for the establishment of a c om mu n it y - b as e d coconut processing hub so that profits from the sales of coconut products and byproducts would reach them, an official of an advocacy group said. In an interview, Kilos Magniniyog national coordinator Socrates
Banzuela said it was not the farmers who benefited from the sale of the coconut products, but the millers and landowners. He said the processing hub would handle an average of 5,000 coconuts every day, with a cluster of barangays running it together. The hub would integrate the processing of the coconuts hub/PAGE 6
COMPOSTELA Valley -- Aside from small-scale mining, residents of gold-rush barangay Mt. Diwata are drawing income from farming and tree planting. Mt.Diwata Punong Brgy Pedro Samiliano said some residents in his barangay are into banana production particularly Cardava, making use of the rich fertile mountainous areas of the barangay He also revealed that “Sayote” yields high along with other vegetables which he said grow favourably in Mt. Diwata given the cool climate similar with that
INTO FARMING. They leave behind the gold and go into farming.
in Baguio City. “Walay kalahian ang klima sa Baguio ug sa Mt. Diwata,” he said while also farming/PAGE 6
Gov’t taps mult-sectoral partners for IEC on Bangsamoro Basic Law DAVAO City -- Presidential Adviser on the Peace Process Teresita Deles said that the government will tap the local government units, academe and the civil society to explain to the people in various fora
the content of the proposed Bangsamoro Basic Law while it is deliberated in Congress. Speaking to reporters here, she cited the need to intensify the information campaign to explain the
measure to the people. Deles said every week, a member of the peace panel goes down to the communities to explain to the people the BBL. taps/PAGE 6
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