BusinessWeek MINDANAO CREDIBLE
Volume VIII, No. 4
Market Indicators As of 5:00 pm June 15, 2017 (thursday)
FOREX
PHISIX
US$1 = P49.630
7,964.49
X
7 cents
1.52
X
points
Briefly Power deal ETON Properties, the real estate development arm of the Lucio Tan Group, has firmed up a deal with an Aboitiz Power Corporation subsidiary on electricity supply procurement of 5.2 megawatts to serve its requirements. In a statement to the media, AP Renewables, Inc. (APRI) of the Aboitiz group indicated that the contracted power will be coming from its Makiling-Banahaw (MakBan) geothermal facility – which is under its “Cleanergy” brand. Eton Properties will funnel this power supply off-take at its Cyberpod office buildings at the Eton Centris in Quezon City. As noted, the power requirement factored in the Lucio Tan-owned property firm’s plan to establish more office spaces “to optimize continuous growth (in) the business process outsourcing (BPO) industry.”
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By MYRNA M. VELASCO, Contributor
MID the tension in the region, the propounded launch date as well as trial operations program for the Wholesale Electricity Spot Market (WESM) in Mindanao sails on to concretization this month. According to Philippine Electricity Market Corporation (PEMC) President Melinda L. Ocampo, the Department of Energy (DOE) has already given gosignal on the market’s trial operations starting June 26
this year. Mindanao industr y participants, she said, “are expected to be involved in the conduct of end-to-end testing of all interfaces and systems that will involve simulations wesm/PAGE 11
DTI: Extension of price freeze in M’nao eyed DEPARTMENT of Trade and Industry (DTI) Secretary Ramon Lopez said the agency is studying the situation in Mindanao if it needs for extension of price freeze once
the 60-day martial law ends next month. “With the gravity of the situation, there is a possibility. We are not yet saying yes. extension/PAGE 11
Agus rehab THE Department of Finance (DoF) said it backs the Energy department’s plan to rehabilitate Agus hydroelectric complex before it is privatized. PSALM earlier said that it had commissioned a study on the best scheme to transfer the Agus-Pulangi complex to the private sector as called for by law. “What we discussed a while ago, was the rehab of the Agus river system. Which is the right time to do it now, because we have an excess power in Mindanao,” Finance Secretary Carlos G. Dominguez III told reporters yesterday at the Department of Finance headquarters in Manila, after meeting with heads of government-owned and -controlled corporations. “So you repair it... and that thing is only operating for about 40% capacity. So you better repair while you have enough capacity, before it catches up to you,” he said.
IN-DEPTH
MAUTE BOMBER NABBED. Chief Supt. Agripino Javier, regional director of PNP-10 (right) presents Mohammad Maute (center, wearing orange shirt) to the media following his arrest in Sta. Cruz, Barangay Macasandig, Cagayan de Oro City, yesterday. Mohammad is believed to be the cousin of the founders of the Maute Group and is alleged to be the group’s bomb expert. photo by gerry lee gorit
STATE OF THE CITY ADDRESS:
Moreno highlights massive investments, vows readiness for renewed challenges By MARK FRANCISCO, Staff Writer
NOBODY CAME TO WEEP. Cemetery workers place the last of the 11 coffins containing the bodies of still unidentified victims in the Marawi City siege in their final resting place at the cemetery in Barangay Dalipuga, Iligan City. The interment was attended mainly by local government employees and the media. MindaNews photo by Bobby Timonera
Cag. de Oro developer takes green experience in Batangas “WE are excited to commence the Miramonti d e v e l o p m e nt i n S a nt o Tomas, Batangas before end of 2017,” exclaimed Architect Romolo Nati, It a lpi n a s D e ve l opm e nt Corporation’s Chairman and CEO, in his excitement for the company’s f irst
development in Luzon. Focused on emerging cities, IDC brings to Santo Tomas, Batangas its awardw i n n i ng an d g l o b a l l y cer t if ie d exp er ience in d e v e l opm e nt s t h at are both responsive to the local climate and responsive to the call of the environment.
IDC planned to launch the first phase of the project with an estimated 800 million investment on September 2017. According to Nat i, Miramonti will feature 324 residential, 5 commercial, and 96 parking units in developer/PAGE 11
MAYOR Oscar Moreno yesterday admitted that his administration is more than ready to take up pressing challenges ahead as he embarks on another year of his second term.
During his annual State of the City Report delivered in time of the city’s Charter Day celebration yesterday at K i o s k o K a g aw a s a n , Moreno said that confluence moreno/PAGE 11
Italpinas Development Corporation’s (IDC) Romolo Nati, Chairman and Chief and Executive Officer, Jojo Leviste, President, and executives during the site visit in Santo Tomas, Batangas in preparation for the Miramonti project’s launch.
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