BusinessWeek M I N DA N A O CREDIBLE
Volume XII, No. 104
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Vax rollout for kids THE coronavirus disease 2019 (Covid-19) vaccination rollout in Northern Mindanao (Region 10) for children who are 5 to 11 years old will officially start on February 14. In an online update Wednesday, Dr. Ellenieta Gamolo, Department of Health–10 (DOH-10) assistant director, said the vaccination rollout will start in hospitals and will eventually be conducted in the different local government unit (LGU)-managed vaccination sites. She also confirmed that the launching of the February 14 vaccination in this city will be held at the SM Downtown Premier and the city governmentmanaged JR Borja General Hospital.
Secondary market THE European Union has strongly urged the Philippines to fully implement the economic reform measures to end its long-held image as a mere secondary market in ASEAN for EU investors. In a presentation at the virtual presscon for the launch of the European Chamber of Commerce of the Philippine (ECCP) Doing Business in the Philippines Guidebook, Maurizio Cellini, head of Trade and Economic Affairs, First Counsellor of the EU Delegation to the Philippines, noted that the latest available data showed that European investments in the Philippines grew by 8 percent in 2019 to 14 billion euros. While this is good, he reminded the Philippines that the European investment in the country is only roughly 4 percent of the total EU stock investments in the Southeast Asian region.
Financing MSMEs BUTUAN City – The Department of Trade and Industry in Surigao del Norte (DTI-SDN) on Wednesday announced the start of the financing for micro, small and medium enterprises (MSMEs) affected by Typhoon Odette in Siargao Island in December last year. In a statement, the DTISDN said the financing support will be implemented under the Small Business Corporation (SB Corp.), the agency’s financing arm. “The DTI, through the SB Corp., will be providing an Enterprise Rehabilitation Financing (ERF) support to MSMEs adversely affected by the typhoon in a form of low interest and collateral-free loans,” the DTI-SDN said.
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German firm stake in STEAG coal plant sold www.businessweekmindanao.com
AS OF 6:00 PM FEBRUARY 12, 2022 (SATURDAY)
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Mon-Tue|February 14-15, 2022
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By MYRNA M. VELASCO, Contributor
UBLICLY-listed firm SPC Power Corporation and its affiliate-firm Intrepid Holdings Inc. (IHI) have acquired the 51 percent shareholdings of German firm STEAG GmbH in the 210-megawatt coal-fired power plant in Mindanao in a transaction valued at $52 million.
In a disclosure to the Philippine Stock Exchange (PSE), SPC Power said it purchased the 40.5 percent stake of STEAG in the coalfired power asset while its affiliate IHI acquired 10.5 percent. The buyer-company conve ye d t hat t he s a le and purchas e a g r e e m e n t ( S PA )
of the shares of the German firm in the coal plant, which is under corporate vehicle STEAG State Power Inc. (SPI), was sealed on February 10 this year. “Subj e c t to t he terms and conditions of t he SPA, s el ler (STEAG) shall sell its 51% interest in the HEART'S DAY. A vendor shows dozens of roses sold for P700 per dozen at Bankerohan Market in SOLD/PAGE 6 Davao City. mindanews photo
‘Kasimbayanan’ launched for safe, peaceful pools in NorMin THE Cagayan de Oro City Police Office (COCPO) on Wednesday launched the Safe National and Local Elections 2022 campaign dubbed as “Kasimbayanan) -- Kawani ( p e rs on nel ) , Si mb a han (church), at Pamayanan (and community) to ensure safe and peaceful conduct of elections in the Northern Mindanao region. Col. Aaron Mandia, acting city director of the COCPO, assured to provide intensive security measures through Safe (safe, accurate, fair, election). "The May 2022 election
may be the most serious and important in recent history, especially because of the problem that country is facing brought about by the pandemic. However, the police will always be the partner of the Comelec to ensure that the May 2022 election will be safe and peaceful," he said. He a l s o s a i d s t r i c t i mpl e me nt at i on of t he minimum public health st and ards w i l l a ls o b e enforced as the campaign period for national candidates kicked off on Tuesday. " R e s t a s s u re d , a s a
deputized agency of the Comelec, we will ensure, not just a free, honest, peaceful a n d c re d i b l e e l e c t or a l exercise but a safe one in full compliance with strict public health and safety protocols," he said. COCPO spokesperson Maj. Evan Viñas said police personnel to be deployed on the different voting venues in the city are still being finalized but “we have sufficient number” forces to render security on the election day. Var ious gover nment LAUNCHED/PAGE 6
Bangsa region accredits more halal certification companies
A bike commuter drives past a gas station in downtown Davao City on Tuesday (8 February 2022). Fuel companies have raised prices for sixth straight weeks. mindanews photo
EXPORTS of halal goods from the Muslim-majority Bangsamoro region are expected to expand with the licensing of more halal cer tif ication f irms and initiatives to boost trade links with the Brunei-IndonesiaMalaysia-Philippines East ASEAN Growth Area (BIMPEAGA). Prime Certification and Inspection (PC&I) Asia Pacific, Inc., whose parent company is headquartered in Dubai, officially received its certification of registration
on Feb. 3 from the Regional Bangsamoro B oard of Investments (BBoI), along with four other companies. “The five companies, upon receiving this certificate of registration can fully be operational with their own respective ventures and will automatically enjoy fiscal incentives provided for by the Regional BBoI,” Ishak V. Mastura, the board’s chairman, said in a statement. PC&I will provide halal accreditation for export HALAL/PAGE 7
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