BusinessWeek Mindanao (January 19-20, 2022)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 94

Market Indicators

X

US$1 = P51.255

0.14 cents

PHISIX

X

7,223.83

37.51

RELIABLE

points

Briefly Biz registration up TANGUB City - The Securities and Exchange Commission (SEC) on Tuesday said the increase of new incorporations and registrations in Northern Mindanao is an indication that business remains promising in the region in the last two years despite the pandemic. In a statement, lawyer Frederick A. Enopia, officerin-charge of the SEC-Cagayan de Oro (CDO) extension office, said for 2021, their office received a total of 1,505 registrations from 726 stock corporations; 67 partnerships; and 712 nonstock corporations. The total number constitutes a 27.56-percent increase from its 2020 figure, which the DTI said was an indicator of a higher filing of new incorporations and applications for expansion in capital.

Tax incentives THE Fiscal Incentives Review Board (FIRB) has approved tax incentives for a P10billion cement manufacturing project in Davao del Sur set to supply infrastructure projects in Mindanao, the Department of Finance (DoF) said. The Oro Cemento Industries Corp. project’s estimated output is 50 million bags of cement each year, the DoF said in a statement on Monday. The FIRB granted the cement project a two-year income tax holiday, after which it will receive five years of enhanced deductions and duty exemption on capital equipment and raw materials imports.

Preemptive measures PROVINCIAL governors in the Northern Mindanao region have called on their constituents to remain vigilant and take preemptive steps ahead of the new coronavirus disease 2019 (Covid-19) alert levels beginning Sunday, January 16. In a response to queries on Facebook, Misamis Occidental Gov. Philip Tan on Saturday said those travelers coming to the province, and residents entering establishments, should bring their vaccination cards especially those among the qualified population. In the absence of vaccination cards, Tan said an antigen test with a negative result can be an alternative.

IN-DEPTH

New surge cuts short power coop's protest www.businessweekmindanao.com

AS OF 6:00 PM JANUARY 17, 2022 (TUESDAY)

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YOUR MINDANAO-WIDE BUSINESS PAPER

Wed-Thu|January 19-20, 2022

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By CHRIS V. PANGANIBAN, MindaNews

AGUM City — A sudden declaration of Alert Level 3 by local officials cut short the “Black Friday” protest rally in front of the provincial capitol here against the grant of the congressional franchise to the Aboitiz-owned Davao Light and Power Company (Davao Light).

BLACK FRIDAY PROTEST. Rallyists from different parts of Davao del Norte attend the “Black Friday” protest action in front of the provincial capitol n Tagum City, Davao del Norte on January 14, 2022, against privatizing the distribution of electric power to consumers presently served by an electric cooperative. mindanews photo by chris v. panganiban

Some 3,000 residents from several towns in Davao del Norte and Davao de Oro gathered in front of the capitol to step up their campaign against privatization. The Coalition Against Privatization of Electric Cooperatives (CAPECs)

which spearheaded the protest action, was granted a permit until 2 p.m. by Tagum City Mayor All n Rellon. Organizers, however, opted to cancel the motorcade that would have been the culmination of the mass PROTEST/PAGE 7

Relief goods for Siargao stuck for two days in Surigao By ROEL CATOTO, MindaNews

GENERAL LUNA, Siargao Island — Relief goods and construction materials for survivors of super typhoon ‘Odette’ is Siargao were stuck in Surigao City for two days due to inclement weather. A ‘no sail’ order was issued by the Philippine Coast Guard in Surigao del Norte on January 13 because of the weather. As a result, government agencies and humanitarian agencies could not bring goods from the mainland to Siargao Island. Dapa Councillor Gerry Abejo told MindaNews that the order has been lifted and travel has resumed starting Saturday. King Mordeno of Junior Chamber International Surigao said the medicines RELIEF/PAGE 5

BARGE OF AID. Due to sea traffic at the Dapa Port in Siargao Island, humanitarian aid to the island is unloaded using other on-going government International seaport projects in Barangay Jubang in Dapa. Photo taken Sunday, 16 January 2022. mindanews photo by roel catoto

Pichay: SC decision not yet final By CHRIS V. PANGANIBAN, MindaNews

TANDAG CITY--- Deputy Speaker and Surigao del Sur 1st District Rep. Prospero Pichay has clarified the Supreme Court decision to uphold his graft case at the Ombudsman in 2011 is not yet final and executory. Pichay posted a press statement in social media to refute reports circulated in several news outlets in the country that he is now disqualified to run for public office after the Suprema Court upheld the decision of the Ombudsman indicting him for graft over the P780million deal when he was still chair of the Local Water Utilities Administration. “The recent Supreme

Court decision only resolved the complaints filed against me before the Office of the Ombudsman. It must be emphasized that this Supreme Court decision is not a petition for disqualification of my candidacy as congressman,” Pichay pointed out in his statement. He added the decision has no relation to his fitness to run and hold any elective public position since it did not specifically and categorically rule on his qualification or disqualification to seek another term in Congress. In a 40-page notice, the Supreme Court First Division rejected Pichay’s claim that he was not given due process

when the antigraft body found him guilty of grave misconduct for pushing for LWUA’s acquisition of an insolvent thrift bank without the required clearances from the state financial regulators It a l s o re j e c t e d h i s consolidated petitions to void the two resolutions of the Court of Appeals in 2013 and 2014, and the two subsequent orders of the Sandiganbayan in 2016 and 2017, that affirmed the Ombudsman’s decision to indict him for graft. As correctly held by the Ombudsman, the tribunal said the penalties imposed on Pichay for committing an administrative offense included perpetual DECISION/PAGE 5

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