BusinessWeek Mindanao (November 9-10, 2017)

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BusinessWeek M I N DA N A O

YOUR Mindanao-wide BUSINESS paper

CREDIBLE

Volume VIII, No. 66

Market Indicators

As of 4:30 pm November 9, 2017 (thursday)

FOREX

PHISIX

US$1 = P51.27

8,519.82

3

X X Briefly

cents

11.33 points

Tax exemption THE Board of Investments (BoI) said it approved the application for tax incentives of a Davao-based coconut processor to support a P30million facility. In a statement issued Tuesday by the Department of Trade and Industry’s investment promotion arm, Canadian-Chinese company All Bright Resources International, Inc. proposed for incentives its facility manufacturing coco fiber and coco peat, a growing medium for plants made from coconut husk, in Davao del Sur. According to the 2017 Investments Priorities Plan, agro-processing activities outside Metro Manila qualify for tax incentives. The company expects to export 70% of its output to China, South Korea and Japan and will source raw material from Kidapawan, Cotabato and selected municipalities in Davao del Sur.

More ads for Marawi MORE countries are expected to provide assistance to the Philippines in rebuilding war-torn Marawi City when state and business leaders meet here for the ASEAN Business and Investment Summit (ABIS) slated on November 12-14. George Barcelon, Association of Southeast Asian Nations (ASEAN) Business Advisory Council (ABAC) member, said about 250,000 displaced residents of Marawi City are returning home. Barcelon said more funds are needed to build houses, roads, facilities like hospitals, among others. “We (also) have to look at what kind of industries can be set up that can provide livelihood (opportunities for them),” he said. cmyk

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Big China market eyed for premium bananas www.businessweekmindanao.com

Thu-Fri | November 9-10, 2017

D

P15.00

By NELSON BAGAFORO, PNA

AVAO City -- Homegrown conglomerate Anflo Group of Companies, through its newest subsiduary, the Anflo Banana Corp. (ABC), has partnered with a global agricultural firm to penetrate what is touted as the biggest and most flourishing China market for premium bananas.

PREMIUM BANANAS. Anflo Banana Corporation (ABC) is eyeingto tap the huge China market for its premium bananas. Anflocor owns vast plantation of export quality bananas in Compostela Valley Province and Davao Occidental.

The Davao-based banana firm is apparently taking advantage of the growing Philippine-China trade relation as espoused by the Duterte administration as it is signing a

DPWH head to inaugurate 2 projects in Normin today By MARK FRANCISCO, Staff Writer

P U B L I C Wo r k s a n d Highways Secretary Mark Vi l l ar w i l l i naug urate two key road projects in Northern Mindanao today – the 12.77-kilometer Cagayan de Oro Coastal Highway and the six-lane Igpit Bridge. The Cagayan de Oro Coastal Highway will be

the second diversion road in the eastern part of the city and is expected to ease traffic by 30 percent there, according to Villar in a July pronouncement. Meanwhile, Igpit Bridge in Opol, Misamis Oriental is part of the ongoing P176m i l l i on L a g u i n d i n g a n

NEA, Bukidnon utility end management row

airport access widening. In a t e x t m e s s a ge , D ep ar t ment of Public Wo r k s a n d Hi g hw ay s (DPWH) 10 spokesperson Vinah Maghinay said that the formal opening of the Cagayan de Oro Coastal Highway is set at 1:00 p.m. followed by the Igpit bridge ceremonial inaugural. projects/PAGE 11

marketing contract with GoodFarmer Banana Trading Corp. (GoodFarmer) for its huge banana production in Davao Occidental, according to Alex premium/PAGE 11

BoC-10 on tract to its P13-B collection target By JIGGER JERUSALEM, PNA

THE Bureau of Customs in Northern Mindanao (BOC10) is now closer to achieving its collection target as taxes and duties earnings have picked up in the past few months. From January to October, BOC-10 was able to collect more than P10 billion, said BOC-10 Collector Jamail Marohomsalic. He said the agency’s original target was P12

billion, but Customs Commissioner Isidro Lapeña ordered the adjustment on BOC-10’s collection goal for this year. Despite the additional P1 billion, Marohomsalic said they can still reach the target “as long as our stakeholders (importers and exporters) declare their shipment properly and pay the right taxes.” target/PAGE 11

By Philippine News Agency

THE National Electrification Administration (NEA) and the Bukidnon Second Electric Cooperative, Inc. (Buseco) yesterday announced it has reached a “win-win” solution to the ongoing row between

the agency and the power distribution utility. This following the consultative meeting called by the Senate Committees on Energy and on Cooperatives utility/PAGE 9

Small-scale mine tunnels in SouthCot facing closure By MINDANEWS

GENERAL Santos City -Some 75 small-scale mine tunnels in T’boli town in South Cotabato are facing possible closure after being found to have been operating

outside a declared mining area. Agnes Castanares, environment management specialist of the Provincial closure/PAGE 9

ESCAPE HOLE. A resident examines on Tuesday a hole apparently dug by ISIS-insired Maute gunmen through the wall of a house in Barangay Basak Malutlut, Marawi City. Terrorists occupied the house just at the back of the rented apartment of slain Abu Sayyaf leader Isnilon Hapilon. Residents of nine out of the city’s 96 barangays who sought refuge in evacuaton centers or in relatives’ houses in neighboring towns and cities have returned home after five months. mindanews photo by froilan gallardo

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


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