BusinessWeek Mindanao (December 8, 2014)

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BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER

2013 ppi’S Best in Business and Economic Reporting

Volume V, No. 77

Market Indicators As of 6:12 pm dec. 5, 2014 (Friday)

FOREX

PHISIX

US$1 = P44.54

7,230.56 points

10 cents

X Briefly 69.29

X

points

P5 COLA DAVAO City -- Minimum wage workers in Region 11 will be entitled to an additional P5 Cost of Living Allowance (COLA) effective December 1 this year, the Department of Labor and Employment (DoLE) regional office announced. The P5 COLA represents the 2nd tranche of Wage Order RB-XI-18 issued in June this year, which then increased the basic minimum wage by P11.00. DoLE Regional Director Joffrey M. Suyao reminded all employers with more than 10 workers that the minimum wage for non-agricultural and retail and services sector will now be P317. For retail and service establishments employing 10 workers or less, the daily minimum wage has been raised to P286. Agriculture sector workers, meanwhile, should now receive P307 per day.

PDAF toll DAVAO City -- Genuine civil service organizations (CSO) are feeling the impact of the PDAF (Priority Development Assistance Fund) scam. This according to Paul Paraguya, project manager of CODE-NGO (Caucus of Development Non-Government Organization) network. He said before the PDAF scam broke out, it was much easier for legitimate NGOs to negotiate above the table with government agencies for the implementation of development projects in the communities. The PDAF scam involved spurious NGOs being recipient of PDAF from senators a scheme allegedly masterminded by Janet Lim- Napoles, these funds were misused contrary to intended purposes.

www.businessweekmindanao.com

Monday | December 8, 2014

P15.00

Aboitiz to infuse P30-B for capacity expansions T

By MYRNA VELASCO, Contributor

HE power generation arm of the Aboitiz group will be infusing US$680 million (or roughly P30 billion under current peso-dollar exchange rate) in fresh capital to bankroll capacity expansions of its power plant projects in Visayas and Mindanao.

Ab oit iz Power chief executive officer Erramon I. Aboitiz has reiterated the conglomerate’s plan to expand the capacity of its Cebu power project to 510MW from what had been initially-designed two units of 170MW capacity each.

The power plant project to be sited in Toledo City in Cebu province had been preliminarily blueprinted for total implementation cost of P41 billion. It will be done via project vehicle Therma Visayas Inc. aboitiz/PAGE 7

Maranaos complain of measly share from Lake Lanao’s contributions By FROILAN GALLARDO, MindaNews

MARAWI City -- Lake Lanao, the second largest lake in the country, became the center of discussion during the congressional public hearing on the Bangsamoro Basic Law (BBL) held at the Lanao del Sur provincial gymnasium here on Thursday.

Driza Liningding, of the Bangsa Moro Peace and Development Council, said the divisions of economic revenues from Lake Lanao do not favor the Maranaos and the Lanao del Sur local government. complain/PAGE 7

GETTING READY. Philippine Air Force personnel in Cagayan de Oro City prepare their rescue gear a day ahead of the expected landfall of typhoon Ruby on Saturday. The air force personnel will be deployed anywhere in case the situation worsens when typhoon Ruby hits landfall. mindanews photo by froilan gallardo

Power Forum:

Can power market dampen brownouts during summer? (Last of a Series) By MIKE BAÑOS, Editor-at-Large

Still no WESM “WE cannot go to WESM because we don’t have an interconnection between Luzon, Visayas and Mindanao. If we have a market here, I cannot call it a WESM because it’s actually isolated. The IMEM is almost the same as WESM but will not go outside of

Mindanao because there’s no interconnection.” “The difference now is in Luzon there is almost no government plant, here the biggest plant is the government. That’s why we have to put IMEM because there are rules which need to be apply only in Mindanao. And especially what we will

put in is the Demand Side Bidding. In Manila you only put your load requirement and take the market price. Here, they are afraid IMEM would make power more expensive.” IMEM Oppositors Oppositors of the IMEM are convinced it would result in unnecessarily high power rates in Mindanao when in power/PAGE 7

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


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