BusinessWeek Mindanao (March 26-27, 2021)

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BusinessWeek M I N DA N A O

YOUR MINDANAO-WIDE BUSINESS PAPER

CREDIBLE

Volume XI, No. 122

Market Indicators

AS OF 6:00 PM MAR. 25, 2021 (THURSDAY)

FOREX US$1 = P 48.580

PHISIX 6,581.00

X X Briefly

8.50

83.99

cents

points

Agri trade down AGRICULTURAL trade fell 6.8% year on year to $4.66 billion in the fourth quarter, reflecting a decline in both exports and imports, the Philippine Statistics Authority (PSA) said. The PSA said agricultural exports fell 10.4% to $1.47 billion in the three months to December. The category accounted for an 8.2% share of the country’s exports during the quarter. Edible fruits and nuts and peel of citrus fruits and melons accounted for $485.64 million or 33.1% of total agricultural exports.

Tariff on pork A FARM industry association, Samahang Industriya ng Agrikultura (SINAG), has proposed an increase in tariffs for imported pork to the Tariff Commission. SINAG Chairman Rosendo O. So said in a letter to the commission that tariffs for pork imports within the minimum access volume (MAV) quota should rise to 40%, and the rate charged for out-of-quota imports set at 44%. Currently, pork imports within the MAV are charged with 30%, while out-of-quota imports pay 40%.

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Oro village gets new water system www.businessweekmindanao.com

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N about a year’s time, Barangay Indahag will finally have its own Level III water system delivering potable water straight to the homes of its long-suffering residents.

JE Hydro & Bio-Energy Corporation broke ground at the site of its proposed water treatment plant Thursday morning led by Luis Ramon P. Lorenzo, Jr., chairman of the LLJ Water Resources Corporation, one of three firms undertaking the project.

“It’s wonderful to see how we’ve all come togetherBayanihan spirit. Four presidents told me if there’s one lesson you learned if you serve in government is you cook it like the bibingka-from one top, from below, from WATER/PAGE 10

Lake Sebu waterfall eyed for hydro power By MINDANEWS

GENERAL Santos City – The provincial government of South Cotabato is pushing for a partnership with a renewable energy company for the development of a t h r e e - m e g aw at t ( M W ) hydropower plant in one of

the waterfalls of Lake Sebu town, an official said. Siegfred Flaviano, head of the Provincial Environment Management Office, said the local government is in advanced negotiations with POWER/PAGE 11

Time Capsule Laying for Indahag Level III Water Supply Project: (left to right) Jimmy P. Arco, Ruben A. Vegafria, Jocelyn N. Dahino, Cito Lorenzo, Joel A. Baldelovar and Ian Mark Nacaya. (JEHBEC)

Alsons posts substantial income climb to P1.87-B in 2020 By MYRNA M. VELASCO, Contributor

A LC A N TA R A- l e d f i r m Alsons Consolidated R e s o u r c e s In c . ( AC R ) was among the very few

companies that financially flourished last year despite the economic assault of the Covid-19 pandemic – with

the company practically doubling its full year netincome to P1.87 billion from a leaner P974 million in 2019. The scale of earnings attributable to parent firm was also thriving at P325 million as against P148 million in the previous year. The Alcantara firm mainly attributed its significant income growth to “the full operation of its power plants,” – primarily the second unit of 105-megawatt capacity of its 210MW Sarangani coal-fired ALSONS/PAGE 11

SCENIC TERRAIN. A farmer negotiates the hilly terrain all the way from Brgy. Tawin Tawin in General Luna, Siargao Island to the town proper to get supplies. mindanews photo by roel n . catoto

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