BusinessWeek Mindanao (August 10, 2015)

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BusinessWeek MINDANAO

2013 ppi’S Best in Business and Economic Reporting

YOUR Mindanao-wide BUSINESS paper

Volume VI, No. 019

X

Market Indicators

As of 6:00 pm August 7, 2015 (friday)

FOREX US$1 = P45.74

5

PHISIX

X Briefly

cents

X

7,532.52

57.43 points

Triple ‘A’ rating DIGOS City -- The Davao del Sur Electric Cooperative (Dasureco), the only power distributor in the 14 municipalities and one city in the province, was recently rated for the third time a Triple A for its performance by the National Electrification Administration (NEA). During the 22nd NEA-Electric Cooperatives Consultative Conference held at the Manila Hotel on Wednesday, all electric cooperatives under NEA were given performance assessment for the year 2014, and Dasureco has been rated as a Triple A Electric Cooperative with a 100 percent perfect score in all aspects of operation. According to Dasureco general manager Engr. Godofredo Guya, the highest rating of AAA will be given to power coops which are compliant in all four parameters: Financial, Institutional, Technical and Reportorial Requirements.

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2014 ppi’S Best in ENVIRONMENTAL Reporting Monday | August 10, 2015

Tobacco firm to ramp up operation in Misor C

LAVERIA, Misamis Oriental -- Barely eight months since it started commercial operation, the country’s biggest cigarette manufacturer Philip Morris Fortune Tobacco Corp. (PMFTC) targets to ramp up production in its facility here within the next three years.

Ravi Lumunsad, PMFTC op erat ions manager of Claveria Fresh Leaf Buying and Curing Facility, said the company aims to achieve maximum capacity of four million kilos annually in two to three years as part of its expansion program in the Philippines.

Investment forum ISLAND Garden City of Samal -- More than sixty landowners and farmers here participated the IGaCoS’ Investment Forum on Priority Industries (Banana and Cacao) conducted by the City Investment and Tourism Office in partnership with the Department of Trade and Industry-Davao del Norte Province at Camp Holiday Beach Resort on July 31. The investment forum aims to promote investment opportunities on banana and cacao to the land owners and farmers to engage in market-driven commodities. The activity also hopes to promote productivity through utilization of idle land and investment generation. Cardaba Banana and Cacao industries are among the clusters prioritized by the Department of Trade and Industry-Davao del Norte Provincial Office under its Industry Cluster Development Program.

P15.00

“We hope to achieve about four million kilos annually, which is the maximum capacity of our facility,” Lumunsad told members of the media. He said PMFTC needs about 2,400 to 2,500 hectares of land planted to tobacco tobacco/PAGE 11

AS CLIMATE CHANGE DERAILS PROGRESS: TOBACCO NURSERY. A worker sprinkles water to newly-grown tobacco in a nursery farm of Philip Morris Fortune Tobacco Corp. (PMFTC) in Claveria, Misamis Oriental. The company has recently earmarked $50 million for tobacco farm expansion and setting up a modern facility in Claveria, a landlocked municipality where high quality Virginia tobacco can be grown twice in a year. photo by shaun alejandrae yap uy

Road project to shorten travel time from Marawi to Cag. de Oro By FERDINANDH B. CABRERA, MindaNews

COTABATO City -- Travel time from Marawi City to Cagayan de Oro City will

soon be shortened from 3.5 hours to 1.5 hours with the concreting of the Kapai-

Tagoloan-Talakag road. Governor Mujiv Hataman of the Autonomous Region i n Mu s l i m M i n d a n a o project/PAGE 11

PHL must scale up resilience measures By BONG D. FABE, Contributing Editor

THE PHILIPPINES must scale up its resiliency me asure s or f ace t he devastating impact of climate change that will definitely derail whatever economic progress the Aquino administration has

achieved in the last six years. “Fo r a d e v e l o p i n g country that is prone to geological hazards and is visited by an average of 20 cyclones annually, there is an urgent need to resilience/PAGE 11

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