BusinessWeek Mindanao

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BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Issue No. 50, Volume II • April 25-May 1, 2011

P10.00

Market Indicators

AS OF 6:36 P.M., APRIL 20, 2011 (Friday)

FOREX

PHISIX

US$1 = P43.275

4,274.77 points

; ; Briefly 0.055 cents

29.56 points

CEB passenger volume

LOW cost airline leader, Cebu Pacific flew roughly a tenth more passengers in the first quarter versus year-ago levels as the budget carrier added more international flights, a statement released yesterday showed. The number of passengers grew by 12% to 2.8 million from January to March over the same period last year. The Gokongwei-controlled airline carried close to 10.5 million passenger for the full year of 2010. “We attribute this first quarter growth to flight frequency increases to key international markets, brought about by the additional capacity from our brand-new Airbus A320. Our 15th Airbus A320 was delivered just last January, increasing our fleet size to 33 aircraft,” said CEB vice president for Marketing and Distribution Candice Iyog.

By MIKE BAÑOS, Correspondent

M

AYNILAD Water Services, Inc. has expressed interest to operate and develop a new water system in Misamis Oriental that would serve the projected increase in demand that will be brought about by upcoming opening of the Laguindingan International Airport next year.

Phinma’s capex

PHINMA Corp. sees capital expenses rising to P6 billion this year as the listed holding firm commits to partly finance the expansion plans of affiliate, Trans-Asia Oil and Energy Development Corp.( TA Oil). In a recent interview, Phinma president Ramon Del Rosario Jr. noted that while power will account for the bulk of the capital budget this year, the company remains committed to expanding its other core businesses in education, steel products and real estate development. “It’s been a long time since we [allotted a budget] that large,” Del Rosario said, commenting on spending plans this year. TA Oil recently authorized the construction of a P12-billion “clean coal” power plant with a generating capacity of 135 megawatts (MW), Del Rosario said. The plant, situated in Calaca, Batangas, will be built by construction firm DM Consuniji Inc. and is slated for completion in 2014.

COOLER SUMMER. These kids took turns to dive in a small water hole they found in a vacant lot planted with kangkong to cool theirselves as temperature starts to rise elsewhere in Mindanao. But the weather bureau said the global temperature this summer is expected to be cooler than last year due to the prevailing La NiĂąa phenomenon. BWM PHOTO BY MIO CADE

Pulangi 5 plant seen to reduce electricity rates in Mindanao By BONG FABE Contributor

THE proposed 300-megawatt Pulangi 5 hydroelectric plant in the province of Bukidnon is the only solution to the power woes of the island, said officials of the First Bukidnon Electric Cooperative (Fibeco).

LUMBIA-CDO LOT FOR SALE 3,080 sq.m. @ P500/m2 (net) Adjacent to Lumbia National High School

09177071625 JR BORJA ST., CAGAYAN. DE ORO CITY

In a letter to Gov. Oscar Moreno dated March 2, 2011, John Patrick C. Gregorio, Maynilad senior vice president, commercial and marketing, expressed the firm’s intent to submit a proposal to conduct a feasibility study to address water demand given the existing infrastructure. At present, there is no central water works system serving Misamis Oriental. Instead, all municipalities have their own waterworks systems while the cities of Cagayan de Oro and Gingoog cities have their own water utilities -- the Cagayan de Oro City Water District (COWD) and Gingoog Water District. In MAYNILAD/PAGE 8

Raul Alkuino, Fibeco chairman, warned that if no new hydroelectric power plants are constructed in Mindanao, Mindanaoans will not only experience brownouts but will also suffer the consequences of higher power rates. At present, Mindanao has

a power mix of hydro, diesel, coal and geothermal power plants. Hydroelectric power, however, is the cheapest to generate. But Alkuino said it is not good for Mindanao to rely solely on nonrenewable energy sources such as fossil PULANGI/PAGE 10

Coalition calls on govt to put on hold privatization By MIKE BAÑOS Correspondent

A BROAD-based coalition of consumer groups, private distribution utilities, rural electric cooperatives, industries, chambers of commerce,

CQ LIFESTYLE CENTER Bldg, JR Borja, St., Cagayan de Oro City Tel No: 856-9001

church-related and civic society organizations will ask the Mindanao Bloc of congressmen in the lower house and the Joint Congressional Power Commission next COALITION/PAGE 10

CAPISTRANO ST, CAGAYAN DE ORO CITY TEL NO.: 856-1660

YOUNG SCAVENGER. A young scavenger, who makes money by collecting scraps and plastic bottle, takes a nap as he rests on top of his merchandize in broad daylight oblivious of the noise of cars and people passing by along the Cugman highway.

VAMENTA BVD, CARMEN CAGAYAN DE ORO CITY TEL NO. 858-1660

BWM PHOTO BY ROLANDO SUDARIA

OSMEÑA ST. CAGAYAN DE ORO CITY TEL NO: 856-4019


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