BusinessWeek Mindanao (January 9, 2015)

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BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER

2013 ppi’S Best in Business and Economic Reporting

Volume V, No. 87

Market Indicators

As of 6:10 pm jan. 8, 2015 (thursday)

FOREX

PHISIX

US$1 = P45.06

7,367.63 points

X

2 cents

X Briefly 41.22 points

Pasungko fest THE Pasungko Festival in Misamis Occidental has been declared first accredited activity for Visit the Philippines Year 2015 in Northern Mindanao. Aimed at promoting the islands of the Philippines to the world including festivals and events, among others, Department of Tourism (DOT) regional director Catalino E. Chan III said that the Pasungko Festival in Misamis Occidental was the first to be accredited for Visit the Philippines Year 2015 in Northern Mindanao. Celebrated in November, Pasungko is already enlisted in the website visitph2015.com where international and local tourists can see and participate. Milo Oropesa, Promotions Specialist of the Tourism Promotions Board said that Visit the Philippines year 2015 is not meant to replace “It’s More Fun in the Philippines” but to refresh it. It is a microsite inside the “It’s More Fun in the Philippines” website to serve as directory to everything the Philippines has to offer.

Bukidnon watershed TANGUB City – Some 44,537 hectares of watershed areas in Bukidnon, region 10, are included in the Davao River Basin (DRB). This was revealed by governor Herminia M. Ramiro of Misamis Occidental, who presented the Proposed Integrated DBR Master Plan for Management and Development, during the recent 103rd Full Council Meeting of the Regional Development Council, region 10 (RDC-X), in the city. Ramiro said this area of the Bukidnon watersheds represents 25 percent of 175,960 hectares, the total DRB area, which has 78 sub-watersheds, 34 percent or 28 watersheds of which are collectively called as DavaoSalug River Watershed Cluster. Particularly, the local government units (LGU’s) in Bukidnon, covered the DRB are those of San Fernando with 29,178 hectares, Quezon, 11,104 hectares, Kitaotao, Bukdinon, 4,028 hectares and Valencia, 227 hectares.

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Friday | January 9, 2015

Ayala Group to beef up capacity to 1,000-MW T

By IRENE DAYO, Staff Writer

HE Ayala Group has beefed up its power generation portfolio and is on track to meet its capacity goal of 1000-megawatt in the next two years.

KUYAMIS FEST. One of the booths competing in the ongoing 2nd Kuyamis Festival 2015 which will wind up today, January 9, at the provincial capitol grounds. photo by mark francisco

Govt allots P480M tourism infra for MisOr NOTING that Misamis Oriental is prioritizing tourism development, the government has allocated more than P480 million infrastructure support for the province. Director Catalino E. Chan III said this is in line with the

government’s tourism road convergence programs of the Department of Tourism (DOT) and Department of Public Works and Highways (DPWH) for the construction of local road projects in priority tourism destinations in the province.

He cited that there are some spots that are not accessible for tourists. Chan further said during the opening of the 2nd Kuyamis Festival that the government has vowed to support in the pursuit tourism/PAGE 11

In a press statement sent to BusinessWeek Mindanao, Ayala’s power subsidiary, AC Energy Holdings, Inc. said attaining a 1,000-megawatt (MW) generating capacity by 2016 is within reach amid progress in its various projects. Eric Francia, AC Energy president and chief executive officer, said the completion of these projects is timely given the anticipated tightness in power supply this year. He said the company hopes these power generation

assets will help augment the country’s power requirements. “In the past three years, Ayala has committed over $700 million in equity to build much needed base load capacity and to develop renewable energy sources,” he said. AC E ne rg y re c e nt ly secured financing for the construction of a 540-MW coal-fired power plant in Kauswagan, Lanao del Norte that will be built in 135-MW phases. The project brings AC ayala/PAGE 11

Aboitiz firm to sign P10-B water supply deal in Davao By CARMELITO Q. FRANCISCO, Correspondent

DAVAO City -- Aboitiz Equity Ventures, Inc. (AEV), in partnership with JV Angeles Construction Corp., will ink a contract with Davao City Water District (DCWD) by March for a P10-billion water supply project that will be completed by 2018. DCWD spokesperson Bernardo D. Delima said construction for the bulk supply project, which will tap surface water source from the Tamugan River, is scheduled to start by early 2016. Mr. Delima said among the terms specified in the

proposed contract is giving the DCWD a board seat in the AEV-JV Angeles partnership. The DCWD official said the bulk supply deal with AEVJV Angeles will not translate to a significant increase in rates for consumers. “(It will be at a) very affordable rate so that it will not become a huge burden to them (consumers),” Mr. Delima said, but declined to give numbers pending the signing of the contract. Mr. Delima said AEV and JV Angeles are expected aboitiz/PAGE 11

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