4 ECONOMY EDGEDAVAO
EDGEDAVAO
VOL.12 ISSUE 2 • TUESDAY, MARCH 12, 2019
PRRD hastens distribution of gov’t lands to beneficiaries
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ARAW NG DAVAO OFFERINGS. Krispy Kreme local relations officer- Mindanao Princess Payag introduces the company’s Araw ng Davao offerings during the Kapehan sa Davao at SM City Davao on Monday. Lean Daval Jr
AboitizPower posts 6% income growth to P21.7 billion in 2018
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or 2018, AboitizPower recorded a net income of P21.7 billion, 6% higher than the P20.4 billion recorded in the previous year. Non-recurring losses of P2.1 billion were recognized, without which, core net income for 2018 was P23.8 billion, 2% higher YoY (year-on-year). AboitizPower recorded consolidated earnings before interest, tax, depreciation, and amortization (EBITDA) of P51.5 billion for 2018, 8% higher compared to the P47.7 billion recorded in 2017. “We were able to sustain our growth with the entry of new capacities from our baseload power plant in Pagbilao, as well as
our hydro plant in Manolo Fortich, Bukidnon and our efforts to continuously improve the availability and reliability of our generation assets,” Emmanuel V. Rubio, AboitizPower Chief Operating Officer, said. Generation and Retail Electricity Supply AboitizPower’s generation and retail electricity supply business recorded a consolidated EBITDA of P43 billion in 2018, 8% higher than the P39.7 billion recorded in the previous year. Performance was primarily
SSS scores 75% compliance rate vs delinquent employers
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he state-run Social Security System (SSS) recorded more than 75 percent compliance rate from 115 delinquent employers a as result of the Run After Contribution Evaders (RACE) Campaign in the regions in 2018. SSS President and Chief Executive Officer Emmanuel F. Dooc said that 87 out of 115 pre-identified delinquent employers subjected to RACE Campaign have fulfilled their statutory obligations under the Social Security Act of 1997 on the back of an intensified collection and awareness campaign of the pension fund. “The number may seem small, but the impact of this campaign is directly linked to a 13.9 percent increase in collection of members’ contributions from P159 billion in 2017 to P180 billion as of December 2018. After visit-
ing 10 cities nationwide, we are glad that the RACE Campaign has fulfilled its purpose of raising our employer’s awareness on their responsibilities as business owners. Likewise, employees learned how to assert their right to social security after having conversations with them during the operations,” Dooc said. The RACE Campaign was first launched in 2017 wherein SSS visited Greenhills, San Juan, and Cubao, Quezon City. A year after, the campaign was brought to the regional level, particularly in the provinces of Batangas, Pangasinan, Palawan, and the cities of Davao, General Santos, Bacolod, Pagadian, Laoag, Naga and Butuan. During the operations, 72 out of 90 employers immediately complied after show cause orders
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driven by the fresh contributions from Pagbilao Energy Corporation (PEC) and Hedcor Bukidnon, Inc. Capacity sold during the year was flat YoY, from 3,167 megawatts (MW) in 2017 to 3,152 MW in 2018. “With our increased economic stake in the GNPower Mariveles and Dinginin projects, we are confident that we will surpass our target of 4,000 MW net attributable capacity by 2020. These growth opportunities are all driven by our commitment to balance the needs of our customers in terms of the reliability, cost-efficiency, and environmental sustainability of the country’s power supply,” Rubio said.
Distribution For 2018, AboitizPower’s distribution business recorded consolidated EBITDA of P8.2 billion, 6% higher than the P7.8 billion recorded in 2017. The company saw energy sales increase to 5,540 gigawatt-hours (GWh), which was 5% higher than the 5,288 GWh recorded in 2017. This was the result of increased consumption levels across all customer segments. “Our distribution business also continues to expand as we deliver worldclass service to our close to one million customers within our growing franchise areas and emerging economic zones,” Rubio said.
resident Rodrigo Roa Duterte on Friday, March 8, mandated the Department of Agrarian Reform (DAR) to distribute government-owned lands, including the ones in the mountain areas to Agrarian Reform Beneficiaries (ARBs). He made such an announcement during the ceremonial distribution of 3, 423 Certificates of Land Ownership Award (CLOAs) to representatives of 2, 495 beneficiaries in Barangay Kauswagan in Sagay City. In his remarks, the Chief Executive stressed that he would hasten the allocation of lands in the remaining three years of his term. However, he would prioritize first the distribution of properties owned by the state. “I still have three more years. I will give everything to the people, especially lands owned by the government which are not being utilized. I already ordered [DAR Secretary John] Castriciones to give the land to the people,” the President said using a mix of Bisaya, Tagalog, and English languages. President Duterte said that the Comprehensive Agrarian Reform Program (CARP) has been implemented since the administration of former President Corazon Aquino and he is simply enforcing the law. However, he acknowledged the challenges in distributing estates because some occupants do not want to let go of their lands and some espouse the communist rebels’ movement.
He once again told the public not to engage with the members of the New People’s Army because the government is striving to provide their needs. As for the NPAs, he renewed his call for them to return to the fold of the law. “I don’t want to kill the NPAs. I don’t even want to kill anybody, especially the Filipinos. Why can’t we have discussions instead?” the President added. “I told Agriculture Secretary [Manny Piñol] ‘Go to the mountains and [find out] what the people need the most.’ Most said, ‘Mayor, fertilizers.’ Others said, ‘Mayor, seedlings.’ Therefore, those are the needs that I will be pouring funds for,” he added. The President reiterated his firm commitment to alleviate the lives of the poor. “I want them to prosper, at least during my term,” he said. “I don’t tell promises that I cannot keep. Once I said it to the public, I will honor my words till I die. I will do it,” he added. President Duterte promised the Agrarian Reform Beneficiaries who received their CLOAs during the ceremonial distribution that they would also receive fertilizers and support services. He also vowed to give each of them cellular phones so they could report their complaints if these promises are not fulfilled. According to DAR, 485 of the beneficiaries who received their land titles have already been provided with essen-
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LOVE DAVAO. SM Supermalls group brand manager Aron Dalaza and marketing manager Pinky Hinong promote SM City Davao and SM Lanang Premier’s Araw ng Davao activities dubbed Love Davao during the Kapehan sa Davao at the Annex of SM City Davao on Monday. Lean Daval Jr