BusinessWeek Mindanao (January 18, 2021)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 95

AS OF 6:00 PM JAN. 15, 2020 (FRIDAY)

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DBP loan STATE-owned Development Bank of the Philippines (DBP) has granted a P645-million loan to Hijo Superfoods, Inc. (HSI) for the establishment and expansion of its banana flour and coconut sugar manufacturing facilities, a top official said. In a statement Thursday, DBP president and chief executive officer Emmanuel Herbosa said the bank's credit support to "Project Honeycomb" of HSI, a start-up unit of Hijo Resources Group, would boost the production of its export products and provide continued livelihood to local farmers and suppliers. “DBP has always been supportive of the initiatives of our local industries that benefit not just the local community but promote the country as well through their world-class products,” Herbosa said.

Samal bridge THE Department of Public Works and Highways (DPWH) said on Thursday it signed a P19.32billion contract with a Chinese firm for the design and construction of the 3.98-kilometer Samal IslandDavao City Connector Project. China Road and Bridge Corp. bagged the design-andbuild contract for the project after the procurement activities in November and December last year, the DPWH said in a statement. DPWH Secretary Mark A. Villar said, “With the signed contract, we can now apply for the loan agreement with the People’s Republic of China through China International Development Cooperation Agency to proceed with the detailed engineering design of the Samal Island to Davao City Connector Project."

IN-DEPTH

Monday|January 18, 2021

P15.00

European Investor offers revival of mothballed NSC I

Investors’ representives Dante Sudaria President and CEO of Mindanao Daily and BusinessWeek newspapers and Ruffy Magbanua VP for Business Development in a virtual zoom meeting with Iligan City Mayor Celso Regencia and Iligan City Councilor Demy Plando for the revival of the defunct National Steel Corporation.

By RUEL PELONE Contributing Editor

LIGAN City — IIigan City Mayor Celso Regencia has fired up the green light to proceed with the country’s first €5-B ultramodern integrated steel mill to replace the defunct National Steel Corporation following a landmark virtual meeting held last week with a European investment group and its local representatives Dante Sudaria and Ruffy Magbanua of Mindanao Daily Ne ws Network (MDNN). Earlier, the investors’ group had forged a technical partnership with a steel company from Europe for the construction of the stateof-the-art Integrated Steel Mill to rise at the same site of the mothballed National Steel Corporation. APPROVAL/PAGE 7

Yanson Group re-elects officials By GERRY LEE GORIT, Reporter

THE incumbent leaders of the family-owned Yanson Group of Bus Companies’ (YGBC) subsidiaries have asserted their grip on the conglomerate’s affiliate firms while their scheduled series of annual stockholders’ meetings is ongoing in Mindanao. Following the holding of the Mindanao Star Bus Transport Inc.‘s (MSBTI) yearly meeting on Saturday, another YGBC subsidiary, Bachelor Express Inc. (BEI), has conducted its own annual gathering of its top officials Sunday (Jan. 17). YGBC has three subsidiaries operating in Mindanao, including MSBTI, BEI, and Rural Transit Mindanao Inc. (RTMI). RTMI YANSON/PAGE 7

STOCKHOLDERS MEETING. The newly re-elected officials of the Bachelor Express Inc. during the bus company’s annual stockholders’ meeting Sunday (Jan. 17). From left: Arvin John Villaruel, Anita Chua, Charles Dumancas, Ginnette Dumancas, Leo Rey Yanson, Daniel Nicolas Golez, and Hernan Omecillo. supplied photo

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