BusinessWeek Mindanao (June 30, 2017)

Page 1

BusinessWeek MINDANAO CREDIBLE

Volume VIII, No. 10

Market Indicators As of 4:30 pm June 29, 2017 (thursday)

FOREX

PHISIX

US$1 = P50.53

7,788.06

X

3 cents

69.12

X

points

Briefly

Panguil Bay bridge THE GOVERNMENT has signed a memorandum of agreement (MoA) with South Korean firms to assist in the preparation of the proposal for the planned P4.9-billion Panguil Bay Bridge Project in Northern Mindanao. In a statement, the Department of Public Works and Highways (DPWH) said under the agreement, starting this month, the consultants are to assist the agency in conceptual design, preparation of bidding documents, design review, construction supervision, and post-construction supervision of the project. “Yooshin Engineering Corp., in joint venture with Pyunhwa Engineering Consultants Ltd., and Kyong-Ho Engineering & Architect Co. Ltd., won the competitive bidding under the Philippine government procurement program to provide consultancy services,” DPWH said on Wednesday. The Panguil Bay Bridge is funded under loan agreement with the Korean Economic Development Cooperation Fund. The P4.9-billion infrastructure project is expected to accelerate and sustain the economic growth in Mindanao regions by making the transport of goods and services more seamless and efficient.

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Power spot market in Mindanao starts www.businessweekmindanao.com

Customs warns vs ‘I Love You’ scam

T

HE Wholesale Electricity Spot Market (WESM) in Mindanao has started its trial operations on Wednesday, June 28, after the launching ceremony held at the SMX Lanang in Davao City.

Department of Energy (DOE) Secretary Alfonso Cusi remained optimistic that the establishment of WESM Mindanao, signals the start of a competitive electricity power/PAGE 11

P15.00

Friday | June 30, 2017

By Myrna M. Velasco

By JIGGER J. JERUSALEM, PNA

‘BATTLE OF BRISBANE’. Manny Pacquiao, promoter Bob Arum, and Aussie Jeff Horn during the press conference promoting the “Battle of Brisbane” on Sunday (2 July 2017). photo courtesy of edwin g. espejo

THE Bureau of Customs in Northern Mindanao (BOC10) has warned the public anew not to fall for the socalled “internet love scam” which has already victimized quite a number of individuals in the past years. If it’s too good to be true, it’s probably a scam, said lawyer Joseph Roswald Pague, B O C-10 deputy collector, referring to the latest scheme from fraudsters who are engaged in swindling individuals of their hardearned money. scam/PAGE 11

Ching pushes for PICOP’s revival By CHRIS V. PANGANIBAN, Contributing Editor

P667M river dike A FLOOD-prevention project in a town in Misamis Oriental is nearing completion as the Department of Public Works and Highways (DPWH) has ordered for its fast-tracking as the rainy season which triggers flooding in high-risk areas approaches. Working to ensure the fast completion of the P667 million river dike in Tagoloan, Misamis Oriental is the DPWH’s Unified Project Management Office (UPMO). At present, the agency has reported the infrastructure is 44 percent completed. DPWH said the Flood Risk Management Project (FRIMP) for the Tagoloan River Basin Sub-project has adopted the integrated flood mitigation approach to the implementation of both structural and nonstructural measures against flooding hazards.

IN-DEPTH

Davao City Mayor Sara Duterte-Carpio (in simple black t-shirt) poses with the newly-crowned Perlas ng Kaliguan 2017. With her are Cagwait Mayor Lilian Yu-Lozada, the Perlas ng Kaliguan 2016 and other VIPs. photo by chris v. panganiban

BUTUAN City -- Philippine economic zone chief Charito Plaza is pushing for the revival of Asia’s largest papermaking company in Bislig City, a move that could boost anew the economic prospects of Surigao del Sur. Plaza, Director General of Philippine Economic Zone Authority (PEZA), said resuming the operations of Paper Industries Corp.

of the Philippines (PICOP) is attainable provided that stakeholders would come out to a common workable ground. Plaza was referring to new schemes to revive the industry through a dialogue wherein those involved will have to sort it out to resolve the pending issues like old loan obligations from government-run banks

in the past and for local government units to disregard the old taxes due so that new investors would be interested to invest in a clean slate. ‘”There are many investors interested and it’s just a matter of minimizing the obligations to attract them,” Plaza told Mindana0 Daily News in sn interview. T h e f or m e r B ut u a n solon who authored the law creating Caraga region was revival/PAGE 11

Mayor Sara surprises Cagwait townsfolk at Kaliguan Festival

Energy security in Mindanao assured: DOE

By CHRIS V. PANGANIBAN, Contributing Editor

DEPARTMENT of Energy (DOE) Secretary Alfonso G. Cusi pledged his full commitment to the Duterte Administration’s peoplecentered policies and longterm economic vision for the countr y during the launch of the Mindanao Wholesale Electricity Spot Market (WESM) which aims to provide a competitive and energy/PAGE 9

• Gov. Pimentel, Rep. Pichay a no show during the mayor’s visit

CAGWAIT, Surigao del Sur-- Local officials here were surprised in awe to see the presidential daughter, Davao City Mayor Sara Duterte Carpio, made good to her promise to grace the fourday grand celebration of the 21st Kaliguan Festival 2017. Mayor Sara and her entourage came on board

choppers on June 24 where she graced and became guest of honor of the coronation night of Perlas ng Kaliguan 2017, a beauty pageant among the prettiest bets from the 11 barangays of Cagwait. Upon her arrival, Mayor Sara shared a “boodle fight” lunch with top local and cagwait/PAGE 9

PICOP REVIVAL. PEZA Director General Charito Plaza at the forum with local government officials on economic zones. Plaza pushes for the revival of the erstwhile booming paper industry in Surigao del Sur. photo by chris v. panganiban

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