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BusinessWeek MINDANAO
as of 5:25 p.m., FEB. 25, 2011 (Friday)
FOREX
PHISIX
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CD-R King in Oro
CD-R King, the country’s chain of low-cost tech retail shop is set to open two more branches in Cagayan de Oro City. One is at the ground floor of newly opened SaveMore Capistrano and the other is at Gaisano City Mall. Computer gadgets and accessories of the latest technology at affordable prices are available at CD-R Kin. What make’s CD-R King above the rest is it’s affordability. The cheap products – some priced nearly half as much as branded ones – are mostly made from electronic manufacturing plants in China or Taiwan. Some of its items might not be that durable or high quality but with proper care the items are as good as the rest.
Royal Business Club opens CDO branch
ROYALE Business Club International Inc. (RBCII), a 100% Filipino owned corporation engaged in providing quality but affordable health and wellness products, business options, micro-businesses and franchises to Filipinos worldwide has finally put up a branch in Cagayan de Oro City. Royalè’s branch is specifically located at the corner of Toribio Chavez and Apolinar Velez Streets. The inauguration of the CDO branch held last week was attended by top honchos of RBCII and city officials led by Vice Mayor Ian Acenas and Rep. Benjo Benaldo.
Blend&Brew Café
ANOTHER coffee shop has opened recently in Cagayan de Oro. Blend and Brew Café, located at the upper ground floor of the just completed Earlsbridge Building along Tomas Saco Street had their soft opening last February 28. The building which is the first unique glass and steel architecturally designed structure in the city also has an internet cafe at the lower ground floor and office spaces and function rooms in the upper floors
Energizer shuts down
HIGHER operating costs in the Philippines compared with other Asian countries and the declining demand for carbon zinc batteries have prompted Energizer to shut down its Philippine manufacturing plant effective May 7, 40 years after it was established. Notices of closure, which also specified a severance package, were distributed to the 100 regular employees at the carbon zinc plant in Mandaue City, Cebu on Wednesday. Energizer Philippines, Inc., however, will continue to distribute its portfolio of brands nationwide through its commercial head office in Metro Manila, a company statement said. All battery requirements in the Philippines will be imported from affiliate plants in Asia, such as China, Singapore and Indonesia.
www.businessweekmindanao.com
P10.00
Chinese firm to end M’danao brownouts
Issue No. 44, Volume II
Market Indicators
March 14-20, 2011
YOUR LOCAL ONLINE BUSINESS PAPER
•
By NELSON V. CONSTANTINO, Editor-in-Chief
A
CHINESE company engaged in producing coal-powered energy has vowed to put an end to Mindanao’s power woes when it starts to build a 100-megawatt plant in the region.
In a statement last week, Shandong-based Coal-Based Investment Holdings Co. Ltd. (CBI) said it aims to build a coal-fired power plant in Mindanao that is suffice to end the up to ten hours of daily brownouts in the island. CBI president Dr. Simeon Chan said the company is open to the possibility of expanding the plant’s capacity to 300 MW. “If we see it needs more electricity, we [will] scale up to produce for their medium- and long-term needs,” Mr. Chan said. Long hours of brownouts covered Mindanao since 2010, with the El Niño-induced drought keeping water levels down in dams that supply hydro-electric power plants. The region heavily depends on such power
See chinese/p.17
SSS tops revenue in Normin by 9% THE Social Security System (SSS) collected 9% more contributions from Northern Mindanao in 2010 as more employers and employees signed up to the pension fund for private sector employees. In a statement, it said it collected a total of P2.26 billion last year, up from P2.05 billion in the year before. “The major driver for the increase in contributions was the increase in covered employers and employees of various plantations, shipping industries and self-employed members in Northern Mindanao,” SSS President and Chief Executive Officer Emilio S. de Quiros, Jr. said.
See Revenue/p.17
START ‘EM YOUNG! This young kid looks like has photography already in his vein as he was caught by BusinessWeek Mindanao photographer taking shots during the recently concluded Kaamulan Festival in Malaybalay, Bukidnon. bwm photo by lawrence babanto
B’non consumers hit sale of Agus, Pulangi complexes By ANN NOBLE Bukidnon Bureau Chief
BUKIDNON power consumers are up in arms to block the impending privatization of the two hydro power complexes that produce electricity for the Mindanao grid. In a published manifesto, the Electric Consumers of the Province of Bukidnon has expressed their strong opposition to the sale of the hydro-electric power complexes of Agus in Lanao province
Kadingilan leads relaunching of I-Rice in Bukidnon province THE Municipal Nutrition Committee of Kadingilan, Bukidnon, is bracing for the simultaneous relaunching of the government’s Iron Fortified Rice Program or I-Rice on Tuesday, March 15.
The event, which will be held altogether nationwide, reintroduces the i-Rice as an effective and affordable food program aimed at reducing, if not eliminate, iron deficiency affecting all age groups but most especially pregnant women and children. The National Food Authority (NFA), the lead government agency tasked to implement the program, has lined up various activities in the agency’s Read FULL STORY /p.16
The Pulangi and Agus hydro power complexes.
and the Pulangi IV situated in Maramag, Bukidnon. “The privatization or sale of the two hydro-electric power
plants will definitely increase the power rate in Mindanao of even up to P15 to P20 per kilowatt hour See consumers/p.17
Ozamiz confers new batch of ‘Pabasa sa Nutrisyon’ graduates THE Ozamiz City Nutrition Committee has conferred the 2010 new batch of 577 Pabasa sa Nutrisyon (PSN) gradu ates from 51 barangays in the city during the 3rd Pabasa sa Nutrisyon Congress held on February 22, 2011 at the Congressman Hilarion J. Ramiro gymnasium. The 577 training graduates are mothers/care givers of malnour-
ished preschool children, pregnant women, lactating mothers and women of reproductive age designed to reduce the level of undernourished children especially in the countryside. Pabasa sa Nutrisyon is a nutrition education approach involving the sustained active participation
Read FULL STORY /p.18