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2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 136
Market Indicators As of 6:12 pm apr. 6, 2015 (monday)
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A Brown water biz in Misor A BRO WN Company, Inc. has created a new subsidiary that will engage in the water distribution business in Misamis Oriental, the holding firm said in a disclosure on Wednesday. A Brown said it “has caused the incorporation of AB Bulk Water Company, Inc. (ABWCI).” The parent subscribed to the entire outstanding capital stock of ABWCI equivalent to five million common shares at an undisclosed price. A Brown said the new unit will “engage in the business of holding and providing rights to water to public utilities and cooperatives or in water distribution in the Municipality of Opol.”
El Nino monitoring DAVAO City -- The City Agriculturist Office of the local government of Davao is monitoring the effects of El Nino among the agricultural sector. Rocelio Tabay, City Agriculturist says that El Nino is already being felt particularly among farmers of annual crops (rice corn, vegetables) who have planted in the months of January and February. He says farmers farther away from sources of water is more affected than those whose farms are near water. He says they have formally requested the Department of Agriculture for cloud seeding and based on his follow-up the department is validating the request.
P15.00
IPPA privatization to propel power rates www.businessweekmindanao.com
Tuesday | April 7, 2015
Consumer group assails move violates EPIRA Law
T
By MIKE BAÑOS, Editor-at-Large
HE head of a consumer group in Mindanao has alleged that the ongoing privatization of governmentowned generation plants is raising power rates higher than those approved by the government.
“The Independent Power Producer Administrator (IPPA) privatization process is being used by the Power
Sector Assets and Liabilities Man a g e m e nt ( P S A L M ) Corporation to sell power IPPA/PAGE 11
COCONUT MEAT. A farmer scrapes coconut meat in his farm in Barangay Limao, Samal Island, Davao del Norte. Coconut is one of the major crops in the island. mindanews photo by keith bacongco
Caraga eyed for oil palm By CARMELITO Q. FRANCISCO, Correspondent
Widespread power interruption hit most part of Mindanao on Sunday morning.
DAVAO City -- Mindanao authorities are looking at developing about a million hectares for oil palm farming with about a third of the total area in the Caraga Region. The Mindanao Development Authority (MinDA), through Public Affairs Division Chief Romeo M. Montenegro, said Caraga can become the center of oil palm production in Mindanao as studies show the climate palm/PAGE 10
M’danao blackout disrupts coal plant commissioning THE Mindanao-wide blackout that started shortly after 1 a.m. last April 5 disrupted the commissioning schedule of Therma South Inc. in Davao City. Because of the disruption, Therma South will reassess the commissioning schedule
of one of its two (2) 150-MW units and it will appraise its customers of developments. Therma South President Benjamin Cariaso Jr. said that despite the issue on one of the units, the commissioning of the second 150-MW unit blackout/PAGE 10
Dry spell takes toll on Mindanao farms By CARMELITO Q. FRANCISCO, Correspondent
THE dry spell that started in December has affected about 27,000 hectares of corn and rice farms in the Davao Region, but the full impact on output and farmer income has yet to be determined, the regional office of the Department of Agriculture (DA) said. O t h e r DA r e g i o n a l of f ices in Mind anao, including Zamboanga
Pe n i n s u l a ( R e g i on 9 ) , Northern Mindanao (10), and Soccsksargen (11) have also reported damage to crops, with cloud seeding in some areas already being undertaken to address the situation. Based on the initial a s s e s s m e nt s , R e g i o n a l Director Remelyn R. Recoter said, Davao could sustain about P147 million in damage
to corn, with 12,000 hectares affected so far and P157 million in damage to rice. Some of the most affected f a r m s t h at h av e b e e n experiencing below-normal rainfall are rice areas in Davao Oriental and Davao del Sur. In Davao City, the City Agriculturist Office projected that the dry spell could affect 7,000 hectares of farmland in the hinterlands, affecting about 11,000 farmers. farms/PAGE 11
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