BusinessWeek Mindanao (July 22, 2016)

Page 1

BusinessW CREDIBLE

Volume VII, No. 019

Market Indicators As of 6:21 pm july 21, 2016 (thursday)

FOREX

PHISIX

US$1 = P47.163

8,102.30

X

9.9 cents

50.33 points

X

Briefly ABOITIZ CONSTRUCTION Group, Inc. has completed feedmill expansion projects collectively worth P295 million for sister company Pilmico Foods Corp., which faces a growing demand from other market segments like poultry and gamefowl. In a statement issued on Wednesday, the subsidiary of listed Aboitiz Equity Ventures, Inc. (AEV) announced the completion of Pilmico’s feedmill expansion in Kiwalan Cove, Dalipuga, Iligan City and Sto. Domingo, Capas, Tarlac. The expansion required an investment amounting to P139 million for the design and construction of the feedmill in Iligan City and P156 million for a similar facility in the Tarlac province.

Globe’s Vis-Min band GLOBE Telecom, Inc. has fast-tracked the deployment of its additional allocation in the 2600 megahertz band in Visayas and Mindanao to provide better mobile Internet experience to customers in the region. The telco’s additional allocation in the 2600 MHz frequency is among the spectrum assets that it gained following the joint buyout of San Miguel Corp.’s telecommunications assets. In Vis-Min, the total number of sites equipped with the 2600 MHz frequency has reached 500 sites, to cover big businesses and highly urbanized populated residential areas.

Privatereps TWENTY nine private sector organizations (PSOs) in Northern Mindanao elected their private sector representatives (PSRs) to the Regional Development Council (RDC) for the term 20162019 in a meeting convened by the National Economic and Development Authority Regional Office X (NEDA-X) on July 15, 2016. Led by NEDA-X Director and RDC-X Vice-Chair, Leon M. Dacanay, Jr., the PSOs selected 10 representatives to the RDC and firmed-up the PSRs in the RDC sectoral committees.

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2 Agus units cut off from M’danao grid www.businessweekmindanao.com

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P15.00

Friday | July 22, 2016

By JUZEL L. DANGANAN Philippine News Agency

O W E R- g r i d o p e r a t o r National Grid Corp. of the Philippines (NGCP) cut the power connection of two units of the Agus hydroelectric plants, which have a total capacity of 82 megawatts (MW), from Mindanao Grid after a tree-branch attached to a rope damaged the plants’ transmission lines.

NGCP said in a statement the tree branch affected the Baloi-Agus 2 138-kV Line 1 in Lanao del Norte. The transmission firm noted that landowner Abner Sulog refused entry to its linemen to repair the damaged power line. Baloi-Agus 2 was also damaged since July 12 after unknown persons planted a bamboo in NGCP’s right-of-way corridor, which caused the transmission line to trip. Landowner Mapangkat Luman similarly refused entry to NGCP personnel. agus/PAGE 7

WATER WORLD. A motorized boat passes by the row of houses along the old Chinese pier in Bongao, Tawi-tawi . MindaNews photo by FROILAN GALLARDO

An association of Banana growers in Mindanao has denied any extortion attempt by officials of the Bureau of Plant Industry (BPI). Mindanews File photo

TESDA, MSU ink agreement to combat poverty in Mindanao THE Technical Education and Skills Development Authority (TESDA) has a new partner in its drive to reduce poverty in Southern Philippines, the Mindanao State University (MSU) System. I n a Me m o r a n d u m of C o op erat ion sig ne d

by TESDA and MSU on Wednesday, the two agreed to come up with strategies to fully utilize the potential of technical vocational education and training (TVET) to further develop available manpower resources as a means to pump prime

growth in Mindanao. “A technical working group composed of TESDA and MSU will be looking into areas of collaboration. TVET is the answer to the issues that have plagued most places in the far south. We poverty/PAGE 7

We are not extorted, ‘Aguinaldo Doctrine’ no longer say banana growers applies to dismissed gov’t officials By ANTONIO L. COLINA IV, MindaNews

DAVAO City – None of the 27 members of the Pilipino Banana Growers and Exporters Association (PBGEA) had experienced extortion nor paid grease money to the Bureau of Plant and Industry (BPI)Quarantine Service here,

its executive said. In an inter view on Tuesday evening at his office located along Rizal Avenue, PBGEA executive director Stephen Antig said he had not received any complaints pertaining to banana/PAGE 7

By JIGGER J. JERUSALEM, PNA

REELECTED public officials who were dismissed from the service with finality by the higher court could no longer invoke the ‘Aguinaldo Doctrine,’ the Ombudsman Mindanao said Thursday. R o d ol fo E l man , t he Deputy Ombudsman for

Mindanao, was referring to the Ombudsman’s dismissal and perpetual disqualification order against Cagayan De Oro City Mayor Oscar Moreno. In August 2015, the antigraft court convicted Moreno and the acting City Treasurer dismissed/PAGE 7

MORENO: Still in fighting form.

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