BusinessWeek Mindanao

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com

Issue No. 52, Volume III • May 9-15, 2011

Market Indicators as of 4:15 p.m., MAY 06, 2011 (Friday)

FOREX

PHISIX

US$1 = P43.080

4,219.070 points

29.61 points

X

X

0.050 cents

Briefly Fuel Atomizer

A FUEL-saving gadget for vehicles is now out in the market. Durable Maximum Atomizer (DMA) is considered one of the most innovative fuel-saving tools in the automotive industry. The DMA fuel atomizer is a cylindrical stainless steel gadget with fins or impellers that can break down bigger molecular structure into very fine molecular particles, guarantees these results to be immediately evident the moment you step on the gas. This innovative technology can reduce the gas consumption of your vehicles up to 30% per month, add up to 40% more power to your vehicle, keep engine cooler and extend engine life. In fact, various tests showed that its durability even outlasts the life of your vehicles. How does DMA fuel Atomizer work? When the air passes through the gadget it becomes high velocity turbulent wind that when it reaches the combustion chamber it atomize the fuel, in effect efficient combustion. DMA fuel atomizer takes only 20 minutes to install and fits in almost all types of vehicles.

Oro Chamber

THE Cagayan de Oro Chamber of Commerce and Industry (OroChamber) has urged local governments in Region 10 to enact business-friendly policies and ordinances. In a dialogue with officials of the Municipality of Villanueva, OroChamber president President Antonio Uy echoed the major concerns of potential locators on fees and licenses duplication and processes. “By business-friendly policies and ordinances, we mean that potential investors should not be overly taxed and subjected to go through protracted processes in registering the business and even in maintaining existing plants,” Mr. Uy shared. Promote CDO President Ruben Vegafria said that in cases where there are duplications, businesses will review other options. Chances are, investors would go to other areas supportive of their profitability and sustainability goals.

ON AGUS-PULANGUI PRIVATIZATION

Congress endorsement for deferment sought A

By MIKE BAÑOS, Correspondent

BROAD-BASED coalition of consumer groups, private and public distribution utilities and church-based social action groups are set to seek the endorsement of the Joint Congressional Power Commission on its resolution calling for the deferment of the impending privatization of the Agus-Pulangui hydro power complexes for another 10 years. The group is scheduled to meet the Congressional Committee on May 13 at a local hotel in Cagayan de Oro City. Melvyn D. Eballe, presi-

dent of Coalition 6/25, said Senator Francis Joseph G. Escudero and Rep. Henedina R. Abad (Batanes) have confirmed their participation sought/PAGE 21

One Network Bank posts 36% rise in Q1 deposits By CARMELITO Q. FRANCISCO, Correspondent

DAVAO City––One Network Bank, considered as the country’s largest rural bank, posted a 36% increase in terms of volume of deposits in the first quarter of this year compared with the same period last year. In its financial statement released last week, the bank reported a first quarter total deposits of P9.8 billion, higher by more than one-third than the P7.2 billion deposits they recorded during the same period last year. Based on the report, most of the One Network Bank deposits came from the time deposits of “high net worth clients who have recently developed trust” on the bank and the 50,000 new automated teller machine card holders. deposits/PAGE 18

‘Open skies’

THE government has formally adopted the final implementing rules and regulations (IRR) of Executive Order 29 or its “pocket” open skies policy. Under the rules, local authorities may offer and promote third, fourth or fifth freedom traffic rights to foreign carriers, without restrictions on frequency, capacity and type of aircraft, to and from any of the country’s airports, except the Ninoy Aquino International Airport (NAIA). According to the Civil Aeronautics Board (CAB), the move is meant to spur tourism and investments in the country. “EO 29 is a developmental tool intended to attract foreign airlines to operate to our secondary gateways, which are largely underserved or totally unserved by international airlines, foreign or local,” said CAB executive director Carmelo Arcilla.

JR BORJA ST., CAGAYAN. DE ORO CITY Tel No: 857-4113

P10.00

POPULATION EXPLOSION. Young scavengers scanning the dumpsite for recyclable trash

as their means of livelihood. The fast-facing increase in population in the Philippines is often blamed for the worsening poverty in the country. photo by mio cade

LTFRB -10 ready to distribute SMART cards By JOE DEL PUERTO FELICILDA, Editorial Consultant

THE Land Transportation Fra nchisi ng Reg u lator y Board (LTFRB) in Region 10 is expecting to be actively tapped in the distribution of SMART Cards to the public transport sector, beginning this month. The ATM-like SMART

Card card entitles legitimate public utility vehicle (PUV) operators and drivers to a monthly fuel subsidy of P1,050, under the government’s Pantawid Pampasada Program (3Ps). LTFRB 10 Director Sultan Mandangan Darimbang claimed “we are the only agency with complete listings of public utility vehicles

(PUVs) and for that, we are readying ourselves to take the lead role in the implementation of the 3Ps.” The 3Ps is spearheaded by the Department of Energy (DOE) to address the growing clamor of PUV operators and drivers for government assistance over the ever increasing cost of fuel. cards/PAGE 21

Misor wooing back Sokor investors By MIKE BAÑOS, Correspondent

MULTI-INDUSTRY CLUSTER.

Philippine Agricultural Development and Commercial Corporation (PADCC) president Marriz Manuel B. Agbon stresses a point during the organizational meeting of the Misamis Oriental Multi-Industry Cluster (MIC) project last week in Cagayan de Oro City.

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

THE Misamis Oriental provincial government is wooing back South Korean investors with a new development paradigm that would create a network of specialized agri-based industries around an industrial core with the Phividec Industrial Estate-Misamis Oriental and the Philippine Economic Zone Authority (PEZA). “This gives us a chance to show the Koreans Misamis Oriental remains an attractive investment destination and also address the Hanjin incident which has been nagging us these past few years,” said Gov. Oscar S. Moreno during the first general membership meeting of the Philippine

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

Exporters Federation Region X (PhilExport-X) held today at a local hotel. Dubbed the Multi-Industry Cluster (MIC), the project aims to increase of rural incomes, generate employment, promote food security and alleviate rural poverty in the Philippines by sharing Korea’s experience in the MIC formation and operation. Misamis Oriental is one of three pilot provinces in the country selected for the MIC. “The MIC is a joint undertaking of the Korean and Philippine governments through a Memorandum of Understanding (MOU) signed by both governments in 2009 to further strengthen economic investors/PAGE 14

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

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


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