Mindanao Daily Business (October 9, 2014)

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

Editor : Cheng Ordoñez

Volume III, No. 115

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story on Page B1 12 October 9,See 2014

DBM: P7.7 billion to address classroom shortage The Department of Budget and Management (DBM) has approved the release of P7.7 billion to the Department of Education (DepEd) and Department of Public Works and Highways (DPWH) to address the shortage of classrooms nationwide. This is the third batch of funds released this year from the Basic Education Facilities Fund (BEFF), which had an allocation of P39 billion from the 2014 General Appropriations Act (GAA), DBM said. Prior to the latest release, the DBM had channeled to DepEd and DPWH a total of P8.6 billion: P1.25 billion in the wake of Super Typhoon Yolanda and P7.35 billion as the first batch of funds released in the middle of the year. “This third release of funds is in keeping with President Aquino’s commitment to the Social Contract, supporting as it does the needs of our education sector as well as advancing quality education in the country. We need to accommodate the increasing number of students every year with new schools as well as equip them properly to create a conducive learning environment,” Secretary of Budget Florencio “Butch” Abad said in a statement. The BEFF is used for the construction, rehabilitation, replacement, completion, and repair of school buildings in areas experiencing acute classroom shortage. It is also used for the construction of water and sanitation facilities as well as the acquisition of school desks, furniture, and fixtures for the targeted public schools. The government defines “areas experiencing acute classroom shortage” as areas where the classroom-tostudents ratio is 50:1 or worse (i.e. classrooms are temporary in nature, are makeshift, or non-existent). “The Administration plans to build more quality classrooms, as each school year brings with it a larger student population. This is one of several ways through which we’re reforming the education system, besides providing better facilities and learning materials to See classroom, page B3

PBB Project gets ICC-TB approval

NEDA-X Director Leon M. Dacanay, Jr. (2nd from right in right photo) presented the proposed Panguil Bay Bridge Project to the ICC –Technical Board (left photo) on October 1, 2015.

C

Debt growth of PHL’s largest firms fastest in SEA

AGAYAN de Oro City - The Investment Coordination Committee-Technical Board (ICC-TB), in its meeting held last October 1, endorsed the proposed Panguil Bay Bridge (PBB) Project for the ICC-Cabinet Committee’s approval.

The project evaluation report (PER) was presented by Director Leon M. Dacanay, Jr., of the National Economic and Development Authority of Region X (NEDA-10) as the lead evaluator with inputs from the Public Investment Staff and the Infrastructure Staff of the NEDA See project, page B3 Central Office.

Bulk of debt invested to grow business

Diseases unit of DOH, among others. The 2013 records show a total of 131 fireworks and pyrotechnics related injuries. The figure is 111.29% higher compared to 2012,

The Philippines’ largest companies have the fastest growing debt in Southeast Asia, Standard & Poor’s Ratings Services’ “ASEAN Top Companies” series stated. In a briefing Tuesday, S&P Asia Pacific Corporate Ratings Director Xavier Jean said the country’s 17 largest companies grew their net debt to EBITDA (earnings before interest, taxes, depreciation, and amortization) by 3.5 times from 2008 to 2013. This is higher than end2008 median ratio of 1.9 times. Debt growth of these top Filipino firms was faster than the overall debt growth of ASEAN top companies at 2.7 times. Singapore has followed the Philippines with fast growing debt while Indonesia was the least. Further, Jean said the companies used the additional debt to finance new investments like business expansion and acquisition

See illegal, page B3

See growth, page B3

Members of the Task Force on Illegal Firecrackers who were cited for their various feats were given appropriate distinctions by DOH-10 and partner-agencies during a meeting Wednesday, at the Pearlmont Hotel, Cogon, Cagayan de Oro City. (Cheng Ordonez)

DOH mobilizes reg’l TF on Illegal Firecrackers By CHENG ORDONEZ Associate Editor

CAGAYAN de Oro City The Department of Health in Region 10 has mobilized the Regional Task Force on Illegal Firecrackers at a meeting, yesterday (Oct.

7), at the Pearlmont Hotel, here in Cagayan de Oro City. Prior to the mobilization conference, Jun Galban, regional information officer, DOH 10, revisited the 2013 Iwas Paputok Campaign initiated by DOH and partner-agencies.

Police Supt. Dexter H. Bubuli, MD, head of the PNP Regional Health Services, presided over the meeting with members from the Department of the Interior and Local Government, the Bureau of Fire Protection and Non-Communicable

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