BusinessWeek MINDANAO CREDIBLE
Volume VII, No. 104
Market Indicators
As of 5:55 pm January 24, 2017 (tuesday)
FOREX
PHISIX
US$1 = P49.848
7,374.35
5.9
X X Briefly
cents
141.69 points
Calamity loan PAG-IBIG Fund now offers up to 80 percent of the member’s total accumulated value (TAV) for calamity loan application. The TAV comprises the member’s personal share, employer counterpart and earned dividends. If the member-borrower has an existing multi-purpose loan (MPL) at the time of availment of a calamity loan, the outstanding balance of the MPL shall not be deducted from the proceeds of the calamity loan. However, if the borrower has an existing MPL, the loanable amount shall be the difference between 80 percent of the memberborrower’s TAV and the outstanding balance of his or her MPL.
Energy-saving tips BUTUAN City -- As part of its mandate to inform and educate the public, the Department of Energy (DOE) released another set of energy efficiency and conservation tips with distinct focus on the consumer. DOE Secretary Alfonso G. Cusi strongly emphasized the importance of these measures, especially with the impending Malampaya scheduled maintenance shutdown by the end of the month. “Demand-side management is one of the measures that we are encouraging our consumers to practice. By doing this, our energy consumption is made more efficient and economical, with the beneficial effect ultimately reflected and felt through our electric bills,” Sec. Cusi explained.
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Ailing electric coops set for ‘receivership’ status www.businessweekmindanao.com
Friday | January 27, 2017
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By MYRNA M. VELASCO, Contributor
T least 10 electric cooperatives (ECs) labeled to be of “ailing status” are being targeted by the Department of Energy (DOE) to be placed under “receivership status” so they can be infused with much-needed financial succor and systems of efficiencies in their management.
KUNG HEI FAT CHOI. A Lion Dance is performed by a local cultural group at the Library of Butuan on January 25, 2017 ahead of the Chinese New Year. Photo by Jun Ayensa
One of these electric cooperatives, according to Energy Secretary Alfonso G. Cusi, is on extreme financial hemorrhage with estimated P10 billion worth of indebtedness – the Lanao del Sur Electric Cooperative (LASURECO) in Mindanao. The nine others are: Abra Electric Cooperative ( A B R E C O ) , Pa mp a n g a Electric Cooperative III (PELCO 3); Camarines Sur Electric Cooperative III (CASURECO 3); Albay
Electric Cooperative (ALECO); Masbate Electric Cooperative (MASELCO); Ticao Island Electric Cooperative, Inc. (TISELCO); Basilan Electric Cooperative, Inc. (BASELCO); Tawi-tawi Electric Cooperative, Inc. (TAWELC O); and Sulu Electric Cooperative, Inc. ALECO was earlier privatized with San Miguel Energy Corporation giving it much-needed shot in the arm – both financially and coops/PAGE 11
Cross border trade between Malaysia, ARMM provinces to reopen on Feb. 1 By ANTONIO L. COLINA IV, MindaNews
DAVAO City – The cross border trade between Sabah, Malaysia and island provinces of the Autonomous Region in Muslim Mindanao (ARMM) will be reopened on February 1, almost a year after it was shut down, Mindanao
Development Authority (MinDA) secretary Abdul Khayr Alonto announced on Wednesday. Alonto told “Wednesdays at Habi at Kape” at the Abreeza Mall that no less Musa Aman, Chief Minister of Sabah,
made the announcement regarding the lifting of the trade embargo after a string of kidnapping incidents involving Malaysian victims by the Abu Sayyaf Group in the island provinces. “As per announcement by the chief Minister of trade/PAGE 11
Young mother Genelyn Coguit attends to her third child Renel on a makeshift shelter while waiting for a pump boat that will transport them to the Rural Health Unit at the town center of La Paz in Agusan del Sur. Photo courtesy of ALEXIS CABARDO, PTV 8 Agusan del Sur
CdO needs P1.2B to upgrade drainage system Young ma bears child in By JIGGER J. JERUSALEM PNA
STRANDED DOLPHIN. A beached dolphin is now being rescued by authorities in Surigao City on Thursday morning, January 26, 2017. The wounded bottlenose dolphin was in mire situation when shellfish gleaners found it thrashing on the shoreline in Sitio Panubigon in Barangay Lipata. Photo by Roel N. Catoto
THIS port capital of Northern Mindanao would need P1.2 billion to upgrade the city’s drainage system, the highways engineer said. Arthur Cupay, chief of the planning and design of the regional Department of Public Works and Highways (DPWH) here, said during an interview on Monday that the city’s drainage system has drainage/PAGE 9
the middle of ravaging floods By CHRIS V. PANGANIBAN, Contributing Editor
SAN FRANCISCO, Agusan del Sur--- In the middle of ravaging floods, a young mother bore a child at the public school where they temporarily sought refuge but the umbilical cord was detached later from the infant’s navel with a sharp edge of a bamboo stick when they went up to the
mountain for safety. Genelyn C oguit,22, never thought she would deliver her third child which was a boy named Renel but the stress she experienced may have triggered it since the floods that already swamped their village came rampaging just as they woke child/PAGE 11
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