BusinessWeek Mindanao sept 19

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BusinessWeek MINDANAO

YOUR LOCAL ONLINE BUSINESS PAPER

‘Give preference to Bukidnon coops’

Issue No. 14, Volume III • September 18-24, 2011

Market Indicators

as of 12:10 p.m., sept. 16, 2011 (Friday)

FOREX

PHISIX

US$1 = P43.4

4,290.17 points

X

X Briefly 0.02 cents

1.23 points

Good harvest

CAGAYAN de Oro City––A total volume of 2,691,434 metric tons (MT) of major crops was produced in Northern Mindanao during the second quarter which is higher by 157 percent compared to the 1,049,050 MT in the same period of 2010. Data presented by the Bureau of Agricultural Statistics to the National Economic and Development Authority (NEDA) in Region 10 showed that increase in the volume came mostly from industrial crops, especially sugarcane. Apipa Bagumbaran

Stolen $100 bills

OZAMIZ City––1,403 pieces of $100 bills stolen from the Land Bank of the Philippines (LandBank) Ozamiz City branch last June 27, are now the subject of an alert warning for banks, foreign exchange dealers, money changers and remittance agents. Bangko Sentral ng Pilipinas (BSP), issued a circular last September 2 listing the serial numbers of the $100 bills. $140,300 in US dollar notes were carted away by robbers who held up the armored van of the DASIA security agency hired by the LBP. Any attempt to exchange, deposit or remit any of the stolen US dollar bills must be reported to the LBP or the nearest law enforcement agency, according to the Central Bank warning.

PH economy grew

THE country’seconomy posted a modest growth of 3.4 percent in the second quarter of 2011 as weakness in construction and industry offset growth in consumer spending amid a lackluster global recovery. Socio-economic Planning Secretary Cayetano Paderanga, Jr. said the growth was below the government’s forecast of 4.5 to 5.5 percent. Paderanga noted that growth was driven by the strong rebound of the agriculture sector (7.1%), particularly sugarcane, palay, and corn, and the modest expansion of the services sector, primarily financial intermediation, real estate, renting and business activities, and other services sub-sectors.

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

B

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By Allan Mediante, Executive Editor and Ann Noble, Bukidnon Bureau Chief

UKIDNON––Deputy House Speaker Lorenzo R. Tanada lll, in a very recent visit and press conference at Valencia City, this province, insisted that the two Bukidnon electric cooperatives must be given preference to take over the management of the hydro-electric plants should privatization of Pulangi IV continues. Tanada was referring to the Bukidnon Second Electric Cooperative (BUSECO) and the First Bukidnon Electric Cooperative (FIBECO) which are the main power key players Tanada’s pronouncement has bolstered the efforts of the two cooperatives in its plan to acquire ownership and

management of the Pulangi IV hydroplant situated in Maramag town. Tanada was in the province recently as keynote speaker of Valencia City’s launching of its first historical photos and cultural exhibits. The Deputy Hous e Speaker bared that although coops/PAGE 13

LANDBANK confers awards to top partner countryside financial institutions

LANDBANK named the D’Asian Hills Bank, Inc. from Bukidnon as the most outstanding Countryside Financial Institution (CFI) in LANDBANK’s recent recognition of Outstanding Partner CFIs. Agrarian Reform Secretary Virgilio Delos Reyes (2nd from right) and LANDBANK President and CEO Gilda E. Pico (6th from right) led the conferment of the award which includes a plaque and cash prize of P300,000. With them are LANDBANK Director Crispino Aguelo, Director Domingo Diaz, Director, Director Victor Gerardo Bulatao (not in photo) and EVP Wilfredo Maldia. D’Asian Hills Bank Chairman and President Estelito Marabe received the award together with Vice Chairman Dra. Genalyn Marabe, Chief Finance Officer Marilou Sagitarios & Compliance Officer Rhoda Vargas.

Steag, DEG launch project for local governments’ effective poverty watch By ALLAN MEDIANTE Executive Editor

TAGOLOAN, Misamis Oriental–– The Steag State Power Inc. (SPI), a world class energy company and leader in advanced coal-power generation technology which operates the 210 MW Mindanao Power Plant here, and the DEG, one of Europe’s largest development finance institutions which promotes private business

PHOTO BY ROLANDO SUDARIA

Too young to beg.

structures to contribute to sustainable economic growth and improved living conditions, with a host of project partners, launched a P16.9-million project to help local government units to monitor poverty effectively and responsibly. The project seeks to update the database and information system of the Planning Offices of Misamis Oriental poverty/PAGE 13

Solar power most ideal to address Mindanao power shortage: Cepalco By Mike Baños

CAGAYAN de Oro City––Solar power plants can provide the cheapest source of electricity in Mindanao if plans push through for its distributed generation among the island’s larger distribution utilities. In a media presentation made Wednesday at a local restaurant,

Engr. Cecilio U. Sumaoy, senior manager of the Cagayan Electric Power & Light Co. (CEPALCO) system operations department, cited the inherent advantages of solar PV plants over thermal and other plants of the same capacity. “The demand for power in Mindanao is constantly increasing, solar/PAGE 4

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

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

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

Biz groups cry for more infra support BUSINESS leaders in Mindanao are eager to make Mindanao products more competitive in the global market. Thus they are calling for the creation of a transportation and logistical plan to make the island to realize this vision. During the recent 20th Mindanao Business Conference (MinBizCon) held in Pagadian City, the Mindanao’s business sector stressed the need for plan to strategically accord greater consolidation of the island’s export products. The leaders are looking for increased support to Mindanao’s fruit industry in terms of infrastructure facilities, it being the leading products for export. Business leaders came up with a Mindanao Policy Agenda which they presented to Mindanao Development Authority chair Sec. Luwalhati Antonino. Antonino represented President SUPPORT/PAGE 6

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


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