BusinessWeek M I N DA N A O CREDIBLE
Volume XI, No. 85
AS OF 6:00 PM DEC. 18, 2020 (FRIDAY)
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Briefly Optimism COTABATO City– Investment officials in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) are optimistic that the formal inclusion of Cotabato City to the BARMM will boost the region’s investment prospects. Lawyer Ishak Mastura, chair of Regional Board of Investments (RBOI), said cursory business surveys point out that Cotabato City, due to its strategic location is the “de facto” financial center of Central Mindanao, having the most number of banks and bank branches in the area. “Cotabato City even has its own Central Bank regional office, which many other similar-sized cities cannot boast of,” Mastura said in a statement Tuesday.
No GC expiration CONSUMER advocacy group Laban Konsyumer, Inc. (LKI) is reminding the public that gift checks, gift certificates, and gift cards (GCs) have no expiry dates. Citing Republic Act No.10962 or the Gift Check Act of 2017, LKI president Victorio Mario Dimagiba said issuing GCs bearing an expiry date is a violation of the law. A hefty fine of PHP500,000 to PHP1 million shall be imposed to those found violating the Gift Check Act.
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New NGCP project to stabilize power supply Thank you for trusting us!
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AVAO City– The Toril-Bunawan 230kV transmission line--the final component of the National Grid Corporation of the Philippines (NGCP) Mindanao backbone project--is seen to secure the reliability of power transmission services in the entire island.
NO DISTANCING. Residents, apparently oblivious to physical distancing, swarm the food stalls beside Plaza Rizal in Malaybalay City. mindanews photo by h. marcos c. mordeno
NBI-10 files charges vs. 'networking' firm A NETWORKING networking company has been charged after being flagged by the Securities and Exchange Commission (SEC) for allegedly engaging in an illegal financial scheme, the National Bureau of Investigation-10 (NBI-10)
said Saturday. NBI-10 said syndicated estafa charges were filed against Jocals688 Beauty and Wellness Products Trading Inc. (Jocals688) at the City Prosecutor’s Office on Friday. Based on its promotional materials, the company is
into selling health products but would entice its members to invest with the promise of bigger returns, according to investigations of the SEC and NBI-10. Jo c a l 6 8 8 ’s pr i n c ip a l headquarters is based in CHARGES/PAGE 8
Water is coming to Indahag THE Cagayan de Oro City Council Committee on Public Utilities has endorsed to the City Council plenary a private company’s proposal to supply and distribute potable water to households and establishments in Barangay Indahag. With a population of 16,179 per the 2015 Census representing 2.4% of the city’s population, the upland barangay in the second congressional district may soon be one of its fastest growing.
In a statement Friday, NGCP said the Mindanao backbone would connect bulk generation from the northern and southern parts of Mindanao and ensure stable and continuous power from Lanao del Norte, passing through Misamis Oriental and Bukidnon, all the way to Davao del Sur and Davao Occidental. With an Energ y Regulator y Commission (ERC)-approved cost of PHP7 billion, the project involves the construction o f t h e M a t a n a o - To r i l 230kV and Toril-Bunawan 230kV transmission lines, the upgrade of the Baloi -Vi l l anue v a-Mar amag Bunawan line from 138kV
to 230kV, as well as the upgrade of its substations in Malita, Matanao, Toril, Bunawan, Balo-i, Villanueva, and Maramag. Among the generating facilities which will connect to the line are the GNPower Kauswagan Clean Coal-Fired Power Plant, Therma South Incorporated Power Plant, and San Miguel Consolidated Power Corporation, with a total combined capacity of 1,440MW. The Matanao-Toril 230kV Lines 1 and 2 were energized in December 2019 and January 2020, respectively, while the Matanao-Culaman 230kV Lines 1 and 2 were energized in the same period. STABILIZE/PAGE 8
Lately barangay officials estimate its population risen to approximately 21, 000. In the committee meeting held Thursday, 17 December 2020 at the City Council Session Hall, council chair Kagawad Teodulfo E. Lao, Jr. endorsed the proposal to the plenary of the local legislative body for further consideration. JE Hydro and Bio-Energy Corp. General assemby at Bgy Indahag on Sept 9 with JE Hydro & BioINDAHAG/PAGE 9 Energy Corp.
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