BusinessWeek Mindanao (January 16, 2014)

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BusinessWeek MINDANAO

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Volume IV, No. 51

Market Indicators

As of 5:56 pm jan. 15, 2014 (Wednesday)

FOREX

PHISIX

US$1 = P45.00

5,958.12 points

19 cents

X

X Briefly 22.56 points

Power deal A SUBSIDIARY of Alsons Consolidated Resources, Inc. (ACR) and a power distributor in Davao have sought regulatory approval for their 25-year power supply agreement (PSA). In a petition dated Dec. 11 and released to the media yesterday, Sarangani Energy Corp. (SEC) and Davao del Norte Electric Cooperative, Inc. (DANECO) asked the Energy Regulatory Commission to issue a provisional approval for the supply deal and subsequently make such approval permanent. Under the agreement, SEC will supply 15 megawatts (MW) of electricity to DANECO through its 105-megawatt (MW) coal-fired power plant for a period of 25 years starting 2015. The two parties said DANECO’s power requirements are “steadily increasing” and peak demand is expected to reach about 86.6 MW.

Climate change mitigation CAGAYAN de Oro City Vice Mayor Caesar Ian E. Acenas calls for public support on measures to minimize the negative effects of climate change. He said this is a global issue but every single Filipino can stand up to protect mother earth from possible devastations. Acenas further said that Kagay-anons can do this in their own homes by strictly observing environmental laws such as proper throwing of garbage, minimizing smoke emissions and others. Vice Mayor Acenas also stressed that there had been devastations caused by climate-related events all over the world but there is now a move to improve resilience and help every city, province and country adopt to climate change. “The involvement of everyone will ensure a successful drive,” Acenas said.

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Energy plan essential for Mindanao growth

E

FFORTS to lay down a long-term energy plan to ensure sustainable power regime for Mindanao could also prime the ground for spatial development initiatives being pursued under a corridors program, a top energy official said.

Director Jesus Tamang of the Department of Energy (DoE) Energy Policy and Planning Bureau cited that the energy plan being crafted for the island strategically support the blueprint for development called the Mindanao 2020 Peace and Development Framework Plan. “The Mindanao Energy Plan (MEP) sets specific strategies in support of the energy requirements of the Mindanao 2020, especially under its Mindanao Corridors Development,” said Tamang at the first leg of series of MEP regional consultations which kicked-off in Cagayan de Oro City recently. The DOE official said that its office is working in close collaboration with the growth/PAGE 7

Coal plant eyed for capacity expansion ABOITIZ Power Corporation, whose subsidiary Therma South Inc. (TSI) is building the P25-billion coal power plant in the boundary of Davao City and Davao del Sur is planning to expand the plant’s capacity in the near future. The 300-megawatt coal plant is expected to be completed by the first coal/PAGE 7

LEAVING HOME. Residents are ferried by a wooden canoe in barangay Mahogany in Butuan City towards designated evacuation areas. Floods spawned by a Low Pressure Area over Mindanao have hit provinces along the island’s northeastern side. mindanews photo by erwin mascarinas

Davao region tops in Mindanao’s GRDP DAVAO City -- Davao region remains as Mindanao’s top economy in 2013 in terms of Gross Regional Domestic Product (GRDP). Maria Lourdes Lim, regional director of the National Economic Development Authority (NEDA) 11 and acting chairperson of the Regional Development Council (RDC) 11, said the sustained

economic growth for Mindanao last year was based on Davao region’s 7.4-percent GRDP growth rate in 2012, placing Davao region in the fourth spot as highest among Mindanao regions. Though it landed 4th, Davao region is the largest contributor among Mindanao regions in overall Philippine Gross Domestic Product (GDP), sharing 3.8 percent.

L im s aid t he g rowt h in Davao region’s GRDP is driven by sustained performance of industries and services sector. Services sector is identified a s t h e t op c ont r i b ut or t o Davao Region’s economy at 53 percent. The growth is due to the influx of private investments specifically in the information and grdp/PAGE 7

Businesses assail plan padding list of paid holidays and leaves By ROMELDA ASCUTIA, Contributor

SUNSET. A picturesque view of sunset in a beach in Barangay Tubigon, Initao town in Misamis Oriental in this file photo. mindanews photo by h . marcos c . mordeno

EMPLOYERS in the Philippines warned that the passage of several proposed bills in Congress seeking additional non-working holidays and paid leaves can do the country, the industry, and the labor force more harm than good. The Employers Confederation of the Philippines (ECOP) in a position paper issued late last year said the law already mandates a total of 18 national non-working days. Of these, there are 10 regular

Mindanao Daily NEWS

holidays, se ven sp ecial (nonworking days) and one special holiday (for all schools). Another three Muslim holidays are observed in Muslim provinces and cities in Mindanao. In addition, salary and wage wor ke rs are e nt it l e d to p ai d i n d i v i d u a l l e av e s , i n c l u d i n g paternity and maternity leaves, solo parent leave, battered women leave, and gynecological leave. assail/PAGE 7

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