BusinessWeek M I N DA N A O CREDIBLE
Volume XI, No. 8
AS OF 6:00 PM JUNE 23, 2020 (TUESDAY)
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Briefly Earnings up ALSONS Consolidated Resources, Inc. (Alsons) said its first-quarter net earnings reached P310 million, up nearly three times last year’s level, as revenues jumped with the full operation of its Sarangani power plant in Mindanao. The Alcantaras’ listed holding company told the stock exchange on Thursday its total revenues rose to P2.21 billion during the three-month period, 81.1% higher compared with the P1.22 billion posted in the same quarter last year. The higher revenue was a result of its 210 megawatts (MW) Sarangani Energy Corp. coal-fired baseload power plant operating at full capacity after its second unit went online in October last year.
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Philippine Press Institute Civic Journalism Community Press awardee for the following: 2013 Best in Business and Economic Reporting 2014 Best in Environmental Reporting 2017 Best in Business and Economic Reporting 2018 Best in Business and Economic Reporting
Wednesday|June 24, 2020
By MYRNA M. VELASCO, Contributor
W
ITH the commercial commissioning of new power plants, the country’s consumption of coal fuel last year jumped to 33.121 million metric tons (MT), which is 9.3-percent higher than the 30.836 million MT usage in 2018.
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Of the total Philippine coal utilization, 28.654 million MT went to power generation; 2.753 million MT had been channeled to the cement industry; and 1.713 million MT for other industries, to include those on food products, coke and refinery products, chemical COAL/PAGE 7
FDC’s coal-fired power plant in Misamis Oriental.
7 CDO telco workers cleared of Covid-19 By FROILAN GALLARDO, MindaNews
Resilient banks THE country's banking sector remains robust despite the challenges posed by recent news about the alleged anomalies in a loan extended by a major bank, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said. In a Viber message, Diokno reiterated that monetary officials are now “looking at the alleged nonreporting of a universal bank of DOSRI (directors, officers, stockholders, and their related interest) loans”. “Consistent with investigation procedures, the BSP is investigating the complaint against the bank. The BSP’s ongoing investigation is expected to be concluded soon,” he said.
ALL seven employees of tel e c om mu n i c at i ons companies in Cagayan de Oro City who earlier tested positive in the coronavirus disease (COVID-19) rapid antibody tests last week were found to be negative in confirmatory tests.
Dr. Joselito Retuya, chief epidemiologist at the City Health Office, said swab tests were performed on the seven employees last weekend. He said the results on the swab tests conducted using the Xpert Xpress process CLEARED/PAGE 7
MARKER. A worker maintains the cleanliness of a tourist spot in Barangay Lunotan in the boundaries of Gingoog City and Claveria town, all in Misamis Oriental, despite the scarcity of visitors due to quarantine restrictions elsewhere in the country. photo by gerry lee gorit
Mayor Sara wants additional Manila-Davao-Manila flights By ANTONIO L. COLINA IV, MindaNews
DAVAO City – Mayor Sara Duterte has told the Civil Aviation Authority of the Philippines (CAAP) to allow
more commercial flights from Manila to Davao City as the number of coronavirus disease (COVID-19) cases in
the city remains “manageable.” Duterte said during her interview over Davao City Disaster R adio (D CDR 87.5) that she has seen a FLIGHTS/PAGE 7
BURNED DOWN. Fire victims try to salvage anything of use after their houses were destroyed by fire at dawn on Monday in Mabolo Street in Barangay Carmen, Cagayan de Oro City. photo by gerry lee gorit
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