Mindanao Daily Business (October 16, 2014)

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Mindanao Daily NEWS BUSINESS . ECONOMY . CORPORATE . BANKING Bringing Good News of Mindanao

Volume III, No. 120

Editor : Cheng Ordoñez

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story on Page B1 12 October 16,See 2014

Davao City wants 70% tax share in coal plant By Earl Condeza DAVAO City – City hall officials are seeking a 70% share in the taxes for the Aboitiz owned 300-megawatt coal-fired power plant.

In his privileged speech Tuesday, Danilo Dayanghirang, chairman of the Committee on Finance, Ways and Means, and Appropriation said that the city should get more on top

of the city’s automatic 30% share of the taxation of the P25-billion power plant as host of the power plant. When it starts operating next year, business taxes from the power plant is

estimated at Php 2 million, according to the Regional Development Council-XI. Other dues for the host communities also include a PhP 4.2 million due for community share, PhP3.5

million for government share, and P25.8 million for real property tax. Dayanghirang said that “this is a very rare situation where one power plant is in the middle of two cities (sic).

It is not written in any law or any reference material on what would be the basis for the sharing. We need to have a position and we need to have a basis.”

SSF project to impact on roasted corn production See coal, page B3

C

AGAYAN de Oro City - The Department of Trade and Industry Region in Region X (DTI-10) has approved a P346,000-worth of Shared Service Facility (SSF) Project to increase production capability and quality of SRV Livelihood Association Incorporated’s Roasted Corn. The SSF project involves the acquisition of the following production machineries: Combined Roaster and Single Disk Grinder that will enable uniform roasting to produce high quality fine roasted corn and Tea Bag Machine to upgrade one of its product variants from being packed in “puyo” into tea bag to make it more convenient and attractive to consumers. See impact, page B3

MOU inked to reinforce copyright protection In the recent copyright forum between the Philippines and Korea, the Intellectual Property Office of the Philippines (IPOPHL) and the Korea Copyright Commission KCC) signed a Memorandum of Understanding (MOU) to strengthen the copyright industry of both countries. Sharing the copyright protection system of Korea to the Philippines is one of the main goals of KCC which is under the supervision of the Ministry of Culture, Sports and Tourism (MCST) of the Republic of Korea. Under the signed MOU, the two countries See copyright, page B3

65th Session of the World Health Organization (WHO) Regional Committee for the Western Pacific

- President Benigno S. Aquino III huddles with the heads of delegations for a photo opportunity during the 65th Session of the World Health Organization (WHO) Regional Committee for the Western Pacific at the foyer stairs of the Philippine International Convention Center in Pasay City on Monday (October 13). The Philippines’ hosting of the 65th Session is historically significant considering that after a quarter of a century, another Aquino is addressing the regional committee as President of the Philippines. The meeting will tackle important health issues that include Emergencies and Disasters, Universal Coverage, Antimicrobial Resistance, Tobacco, Mental Health, among others. Also in photo are Health Secretary Enrique Ona, 64th Session of the Regional Committee chairperson Dr. Leao Talalelie Tuitama, WHO Regional Office for the Western Pacific regional director Dr. Shin Young-soo and WHO Geneva executive director Dr. Ian Smith. (Photo by Benhur Arcayan / Malacañang Photo Bureau)

Twister topples NGCP structures in Bukidnon

By Cheng Ordonez Business Section Editor

Cebu Pacific Air Chief Executive Adviser Garry Kingshott (right) receives the Low-Cost Carrier of the Year award from CAPA Executive Chairman Peter Harbison. CAPA – Centre for Aviation is the leading provider of independent aviation market intelligence, analysis and data services, covering worldwide developments. See full story on page B3

Power interruption hit parts of First Bukidnon Electric Cooperative (FIBECO) and Bukidnon Second Electric Cooperative Inc. (BUSECO), Tuesday, due to twister. National Grid Corporation of the Philippines’ (NGCP) line tripped at 3:07 pm, Tuesday, after a twister hit two structures, causing them to topple down and causing two other structures to lean. As of yesterday, NGCP

was working to restore transmission services to parts of BUSECO and FIBECO. Repair works on two toppled structures located at Dabongdabong, Valencia City, have been completed. Power transmission service was restored in parts of FIBECO at 5:05 pm Tuesday. Line personnel are currently working to repair damages caused by the twister on two leaning structures along Maramag-Malaybalay 69KV, which are located between Calonia and Mailag. The NGCP continues to conduct inspection for other

possible affected structures. Here in Cagayan de Oro, a radio station went off the air due to power outage caused by thunderstorm, even as Kagay-anons rushed home and vendors sought cover, as lightnings sent shiver to people here Tuesday evening. Heavy rains, accompanied by strong winds, flooded the main thoroughfares and some residences. PAGASA said the thunderstorm was a result of heavy clouds that went steady within the area of CDO.

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