BusinessWeek Mindanao (June 4-5, 2014)

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BusinessWeek MINDANAO Best in Business and Economic Reporting Philippine Press Institute Civic Journalism Community Press Awards 2013

Volume IV, No. 110

Market Indicators

As of 5:57 pm june 3, 2014 (Tuesday)

FOREX

PHISIX

US$1 = P43.81

6,800.84 points

1 cent

X

90.44 points

X

Briefly HIV victim AN official of the Overseas Workers Welfare Administration (OWWA) w o uld ext end m edical assistance to overseas workers found infected with HIV-AIDS disease. HIV-AIDS stands for Human Immunodeficiency Virus – Acquired Immune Deficiency Syndrome. The OWWA in Northern Mindanao issued the assurance on Tuesday after reports that HIV-AIDS cases in the region has grown at an alarming rate in the past three years. Harry Borres, officer-incharge of OWWA in Northern Mindanao, said that the OWWA would extend free medical assistance to any overseas worker here who might be infected with the HIV-AIDS disease.

Water project MALAYBALAY City – Two water projects implemented by the officials of the municipality of San Fernando, Bukidnon, were completed during the first quarter of this year. The projects were funded under the Grassroots Participatory Budgeting Process (GPBP) program of the Department of the Interior and Local Government (DILG), and intended for the two waterless barangays (villages) of the municipality. The villages of Matupe and Cayaga have completed their water projects in the amount of P2 million and P2.5 million, respectively. Around 442 households with an actual population of 2,230 in Barangay Matupe will now have access to potable and safe water, the local officials proudly said.

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Hybrid scheme pushed for Agus privatization

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By MYRNA VELASCO, Contributor

TAKEHOLDERS in Mindanao have been propounding “hybrid privatization schemes” that the Power Sector Assets and Liabilities Management Corporation (PSALM) may consider for the Agus hydropower complex. Instead of outright sale of the hydro assets, the schemes reportedly lodged to the Mindanao Development Aut hor ity (MinDA) and the Depar tment of Energy (DOE) include a privatization of just the kilowatt-hours that can be generated from the facilities. According to D OE sources, it was proposed

that “the net present value of the generated energy can be calculated and paid for by the bidders on payment terms to be dictated by government.” It was further explained t h at “a p or t i on of t h e proceeds can be set aside for the rehabilitation and upgrade of the plants.” agus/PAGE 11

MORNING RUSH Trisikad drivers ferry elementary pupils and parents to Matina Central Elementary School in Davao City on the first day of classes, Monday, June 2. mindanews photo courtesy of jesus tinapay

STEAG turns over school building:

Relocation area residents get help to become a self-reliant community By BONG D. FABE

VILLANUEVA, Misamis Oriental — Empowering p e opl e to m a ke t he i r community self-reliant, thus uplifting the quality of life of the residents has always been the heartbeat of the power firm STEAG State Power, Inc. (SPI). Thus when opportunities to extend assistance come along, SPI readily extends a helping hand. Without much fanfare and media pageantry, SPI turned over a 2-classroom school building to the TamBal relocation area here during a very low-key ceremony last Friday (May 30) in time for Monday’s (June 2) opening of classes for School Year 2014-2015. TamBal [Cebuano for medicine] is a conjunction of t h e n a m e s of t w o barangays from which locals

YOUTH EMPOWERMENT. STEAG State Power, Inc. Community Relations Manager Ghaye Alegrio, Dr. Cherie Limbaco, schools division superintendent for Misamis Oriental and Vice Mayor Edwin Dagasuhan of Villanueva, Misamis Oriental cut the ribbon during the simple and very low-key turn-over ceremony of the new school building of the Tambobong-Balacanas National High School in TamBal, Villanueva, Misamis Oriental.

used to reside, Barangay Tambobong and Barangay Balacanas. The school building, the newest addition to the Tamb ob ong - B a l a c an a s Nat iona l Hig h S cho ol (TBNHS), was constructed

No ‘fare hike’ in CDO By CRIS DIAZ, Executive Editor

THE Land Transportation and Franchising B oard ( LT F R B ) i n No r t h e r n Mindanao on Tuesday warned unscrupulous drivers and operators here of collecting unauthorized fare rates. LTFRB Regional Director Mandangan Darimbang issued the warning after his office received reports that some drivers and conductors have already started collecting P 8.00 fare among local commuters here. “ The LTFRB has not approved the P 8.00 fare yet since the regional office has not received any petition for a new fare hike in Northern Mindanao,” Darimbang said.

According to Darimbang, the LTFRB will still hear any petition for a fare hike in an effort to arrive at a judicious decision. He said that any decision to increase the fare rates will undergo a rigid review and public hearing. “The tedious process of studying the fare hike is necessary in order that decisions made would be affordable to the commuters and, at the same time, fair to transport operators,” Darimbang added. He said that the P 7.00 fare rate remains the only authorized fare in the city’s hike/PAGE 11

using fly ash from SPI’s coal-fired power plant. It will benefit some 96 students enrolled in Grades 8 and 9 in TBNHS TamBal was established as relocation site of hundreds of residents steag/PAGE 11

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