BusinessWeek Mindanao (December 2, 2015)

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BusinessWeek MINDANAO

2013 ppi’S Best in Business and Economic Reporting

YOUR Mindanao-wide BUSINESS paper

Volume VI, No. 070

Market Indicators

As of 6:30 pm December 1, 2015 (tuesday)

FOREX

PHISIX

US$1 = P47.153

7,060.60

1.5

X X Briefly

cents

133.53 points

Italpinas shares PROPERTY developer Italpinas Development Corp. enjoyed robust demand for its initial public offering (IPO), the underwriter of the share sale said. Unicapital, Inc. Managing Director Leonardo R. Arguelles, Jr. said in a mobile phone message said the allocation for the local small investors (LSI), trading participants (TP) and quality institutional buyers (QIB) was oversubscribed by multiple times at the close of the offering last Friday. “LSI was fully taken up as of Tuesday. TPs [were] 3.5 times oversubscribed. QIBs [were] 3 times oversubscribed,” Mr. Arguelles said, adding the LSI was 2.6 times oversubscribed.

2014 ppi’S Best in ENVIRONMENTAL Reporting

U

Wednesday | December 2, 2015

By CRIS DIAZ, Contributing Editor

NTIL the power transmission lines are secured, the entry of new power players would not improve the energy situation in Mindanao, a firm tasked to transmit power in Mindanao said on Tuesday.

Beth Ladaga, who heads the National Grid Corporation of the Philippines (NGCP) Regional Corporate and Public Affairs said that the energy situation will not improve if there are no transmission lines to deliver the new capacity to the distribution utilities and household consumers.

Ladaga was referring to various transmission lines that crossed along farm lots in Lanao Del Sur that have remained vulnerable due to trees planted by landowners w h o w a nt p ay m e nt at exorbitant rates. She cited the case of a certain Balao Pundag who supply/PAGE 11

ADVENT. A lighted Advent wreath is visible during Mass last Sunday, November 29, at the Jesus Nazareno Parish, Shrine of the Black Nazarene in Cagayan de Oro City, signaling the start of the long Christmas season in the country. photo by mark francisco

Back to normal POWER supply on the Mindanao grid was back at positive levels on Monday after a week of deficiencies, but electricity distributors in several major cities will still have scheduled brownouts this week as the energy situation remains unstable in the hydropowerdependent southern island due to the prevailing El Niño. As of Nov. 29, the Mindanao grid had a capacity of 1,246 megawatts (MW), which was 132 MW more than the peak demand at 1,114 MW, based on data from the National Grid Corporation of the Philippines’ Web site. However, rotational power interruptions could still be experienced in Davao and Cagayan de Oro cities and nearby areas, among others, where the distributors are mainly dependent on supply from the main grid.

P15.00

Mindanao power supply still bleak due to threats www.businessweekmindanao.com

Banana exporter braces for effects of El Niño By CARMELITO Q.FRANCISCO, Correspondent

YOUNG FISHERMAN. A young fisherman carries his yield, a boxfull of assorted fish, at the fish landing in Poblacion, San Jose, Dinagat Province Tuesday. mindanews photo by roel n . catoto

Solons bat for strengthening of tax exemption for coops By CRIS DIAZ, Contributing Editor

LAWMAKERS are pushing for the strengthening of the tax exemption of registered cooperatives as one of the economic prime movers in the country.

Cagayan De Oro City Rep. Rufus Rodriguez and Abante Mindanao party-list Rep. Maximo Rodriguez, both authors of House Bill (HB) coops/PAGE 11

THE country’s largest banana exporter, Tagum Agricultural Development Co. (Tadeco), is allocating about P120 million in a plan aimed at cushioning the impact of El Niño, which forecasters say will be one of the worst dry spells on record. Anthony Alexander N.

Valoria, president of Anflo Management and Investment Corporation (Anflocor), said the amount is budgeted under next year’s capital expenditures, “but we have to advance it to ensure that the dry spell will have a minimal impact on Tadeco’s

operations.” Tadeco is the flagship firm of the Floirendo family’s Anflocor. “We need to address the impact of the drought on our irrigation system as well as look for other ways to ensure our productivity,” Mr. Valoria told BusinessWeek Mindanao. banana/PAGE 10

Moreno urges enhancement of preparedness Oro exec says Sendong is ‘best example of bad governance’ By BONG D. FABE, Contributing Editor

SENDONG was a “mistake of governance” that should never be repeated. Twenty days before the 4th anniversary of Sendong,

internationally known as Tropical Storm Washi, Mayor Oscar S. Moreno described the devastation wrought on the city by the strongest

storm in 2011 as an example of bad governance paid for by the lives of thousands of Kagay-anons. Moreno, who keynoted the simple hand-over ceremony moreno/PAGE 10

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


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