BusinessWeek Mindanao (June 14, 2017)

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BusinessWeek MINDANAO

YOUR Mindanao-wide BUSINESS paper

CREDIBLE

Volume VIII, No. 3

Market Indicators As of 5:12 pm June 13, 2017 (tuesday)

FOREX

PHISIX

US$1 = P49.558

7,917.89

6.8 cents

X

72.35

X

points

Briefly P10-b for Marawi rehab A PARTYLIST lawmaker at the House of Representatives on Tuesday proposed a P10billion supplemental budget to fund the rehabilitation of the besieged Marawi City. Deputy minority leader and Kabayan Partylist Rep. Harry Roque filed House Bill No. 5874 or the Tindeg Marawi Bill, which appropriates a PHP10-billion supplemental budget to provide humanitarian assistance to victims of the Marawi siege. The proposed budget shall likewise be used for the rehabilitation of destroyed infrastructures, properties, and businesses. Roque said the measure supplements the “declared intention of the Executive Department” to allot P10 billion for the rehabilitation of Marawi.

3 more power plants THE DEPARTMENT of Energy has identified three areas in Mindanao as sites to build new power plants with corresponding transmission lines to accommodate the new facilities. The three areas with a total capacity of 300 MW are San Francisco, Sultan Kudarat and Pitogo each with 100 MW and a corresponding 138 kV transmission line. Mr. Cusi said the department remains technology-neutral, saying this detail will be left for power plant proponents to offer. He also said they should be guided by the country’s requirement of sourcing 70% of power from baseload plants, or those running on coal, natural gas and geothermal power on a 24-hour basis; 20% from “mid-merit” facilities that can be switched on easily when demand jumps and 10% from “peaking” plants that run mainly on oil and renewable energy resources like wind and solar whose output peaks at around the same time that demand reaches its highest level.

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Wednesday | June 14, 2017

Citing peace and order problem:

Cartoon Network holds back planned themed park in Oro T By MARK FRANCISCO, Staff Writer

HE continued bloody siege in Marawi has exacted a heavy toll on prospective investment in Cagayan de Oro City after the popular children’s channel Cartoon Network reportedly pulled out its original plan of putting up a themed park in Brgy. Lumbia.

LOST INVESTMENTS. Photo above shows Thailand’s Pattaya Water Park, the world’s largest and first Cartoon Network entertainment themed park. A similar water park initially slated to be put up in Cagayan de Oro City has hit a snag due to the bloody skirmishes in Marawi. The other day, Cartoon Network’s subsidiary Amazone (Amazon Falls and Turner Broadcasting Asia Pacific) announced the transfer of their investment to Central Luzon. (Pattaya Waterpark)

DOE cites new power project sites By MYRNA M. VELASCO, Contributor

ANCHORING it on t h e “ D u t e r t e n o m i c s” infrastructure build-up paradigm, Energy Secretary A l fons o G . Cu s i h a s identified new sites where upcoming power projects could be installed for the targeted 43,765 megawatts capacity until year 2040 in which investments could reach a high of P5.4 trillion. “ We h av e a l r e a d y indicated the ideal locations

of the needed generation capacities, after considering all the important factors,” he said. At that level of targeted capacity, the scale of investments may reach as high as P5.4 trillion at the rule-of-thumb power project development cost of $2.5 million per megawatt. For Luzon grid, the best possible sites, according to the energy chief, are in the National Capital Region

(NCR) and Bicol region. In the Visayas, portended viable areas for power proj e c t de velopments would be in Cebu, Bohol, and Samar; while for the southernmost power grid of Mindanao, proj e c t siting could be targeted in Zamboanga Sibugay, Sultan Kudarat and Agusan del Sur. The energy agenda of the Duterte administration casts power capacity ramp power/PAGE 11

By CHRIS V. PANGANIBAN, Contributing Editor

The Libas Jam made by lumad women in Loreto, Agusan del Sur is now making headway to the local and regional market. photo by chris v . panganiban

Asia Pacific – opened in 2014 with ten exciting rides and attractions from Ben 10 rollercoasters to Powerpuff Girls aqua playground and many more. Francisco said the same g r o u p b e h i n d Pa t t a y a Waterpark was set to scout for a 111-hectare property in barangay Lumbia, Cagayan de Oro City when war in nearby Marawi City broke out. Lumbia, located in the uptown portion of the city, Park/PAGE 11

LIFE GOES ON. It’s business as usual for people in Saguiaran, Lanao del Sur even as clashes between government forces and the Maute Group continue to rage in nearby Marawi City. Photo taken on 12 June 2017. mindanews photo by h. marcos c. mordeno

World-class Libas Jam on display at Naliyagan PROSPERIDAD, Agusan del Sur -- Even without Gina Lopez, the lumad women’s group in Loreto town which popularized the “Libas” jam will continue making it with an enhanced globally

Philippine Economic Zones Authority (PEZA) consultant to the directorgeneral Elmer Francisco yesterday confirmed the collapse of the supposed huge investment due to peace and order problem in Mindanao. In a Facebook message, Francisco said that Cartoon Network was supposed to replicate a smaller version of its Thai amusement park somewhere in the region. Pattaya Waterpark – a partnership between Amazon Falls and Turner Broadcasting

competitive product. The Libas Jam, a product of Indigenous People – Local Researchers in Agusan Marsh and Sectoral Association (IP-LORAMSECA) , jam/PAGE 11

British firms remain keen in Mindanao By KRIS M. CRISMUNDO, PNA

UNITED Kingdom-based companies remain interested in doing business in Mindanao, British Chamber of Commerce Philippines (BCCP) Chairman Chris Nelson said. Nelson mentioned that

two British firms are setting up their new offices in the southern Philippines, particularly in Davao. These two companies joined a business mission in Davao in March. british/PAGE 11

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


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