INSIDE LOOK
VP Binay: Emulate Mabini’s Discipline
PHL set to host first ASEAN printing meet
Aboitiz Power keen on bidding for power barges
WaterPark seen to boost eco-dev approach
DOST launches Project MOSES
BusinessDaily Corporate World
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Asean Watch
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CREDIBLE
Volume III, No. 262
Market Indicators
As of 6:14 pm july 23, 2013 (Tuesday)
FOREX
PHISIX
US$1 = P43.23
6,743.21 points
1 cents
X
115.85 points
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Briefly ‘Financial crisis’ MISAMIS Orient al Gov. Yevgeny Vincente Emano has declared that Misamis Oriental was in “financial crisis.” Emano made the formal d e c l ar at i o n t hr o u g h a n Executive Order GVYBE 2013002 informing the public and all financial institutions having business with the provincial government that the province was in “financial crisis.” Based on the repor t submitted by the provincial treasurer’s office, Misamis Oriental collected only P492 million (including the Internal Revenue Allotment) from January 2013 to June 30, 2013 as against the province expense of P516 million during the same period, Emano said.
‘Inspiring’ Sona CAGAYAN de Oro City Rep. Rufus Rodriguez (2nd district) said the State of the Nation Address (SONA) of the President Benigno Aquino III at the House of Representatives on Monday was very inspiring. Ro d r i g u ez s ai d t hat the Filipino people were proud of the President’s accomplishments knowing that the country’s economic fundamentals were moving upward. He said that with the economy growing at 7.6 percent, the Philippine is regaining its ground as the new “economic tiger” in Southeast Asia. Rodriguez , President of the Center for Democratic Philippines, said that as a legislator he was happy of the Aquino’s SONA.
Environment
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News
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Cagayan de Oro City
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Billboard
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IN-DEPTH
Wednesday
P15.00
July 24, 2013
steag, agus maintenance repair:
Power plants repair to cause brownouts again W
By IRENE DOMINGO, Reporter
ITH the impending maintenance works on some of Mindanao’s major power sources set to begin in August, the whole island is again facing darker days ahead.
T he D e p a r t me nt of Energ y on Monday said some of the island’s major power plants have already
scheduled shutdowns in their units which would result to another round of energy shortfall.
“Magkaka-brownout ulit but we’d rather have the maintenance now than do it in the summer months,” Energ y Secretar y Carlos Jer icho L . Pet i l la sa id , referring to the time of the year when the output of Mindanao’s hydroelectric plants are at their lowest. Scheduled for routine Repair/PAGE 11
DARKNESS. Mindanao will be facing massive brownouts again with the impending maintenance works on some of the island’s major power plants. file photo by mindanews
Del Monte belies sale to Japan’s Suntory DEL Monte Pacif ic Ltd has belied reports that the company is in talks with Japan’s Suntory Beverages & Food Ltd. for a possible takeover.
“Neit her Del Monte Pacif ic Ltd nor its controlling shareholders, Nut r i A si a Pa c i f ic Ltd , nor its shareholders sale/PAGE 11 CAGAYAN DE ORO’S CHANGING LANDSCAPE. New hotels and skyways along Lim Ket Kai Drive are changing the landscape of Cagayan de Oro in this photo taken on Friday, July 19. mindanews photo by froilan gallardo
Minergy’s coal plant seen to lower power rates By MIKE BAÑOS, Editor-at-Large
Del Monte’s cannery plant in Bugo, Cagayan de Oro. Reports said a Japanese firm is taking over the company.
ONCE the Cagayan Electric Power and Light Company (Cepalco) starts drawing power from its affiliated coa l-f i red power pla nt in Ba lingasag, Misa mis Oriental, rates in its franchise area are expected to decrease. Cepalco recently asked
t he Energ y Reg u lator y C om m i s s ion (E RC) to approve its power supply agreement with affiliate Minergy Energy Systems, Inc. and for the construction and operation of a 138-kv line to connect the proposed Minergy power plant to its
distribution system. “This will substantially lower power rates within [Cepalco’s] franchise area when it starts operations by 2017,” company officials said. D u r i n g M o n d a y ’s energy committee hearing minergy/PAGE 11
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