BusinessWeek Mindanao (May 12-13, 2021)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XI, No. 140

Market Indicators AS OF 6:00 PM MAY 11, 2021 (TUESDAY)

FOREX

PHISIX

US$1 = P 47.51

6,326.83

X X Briefly

5.510

9.42

cents

points

Rural electrification THE National Electrification Administration (NEA) said that it has brought electricity to 362 rural villages under its Sitio Electrification Program (SEP) in the four months to April, the majority of which were in Mindanao. “Of which, 200 sitios were in Mindanao, 106 sitios in the Visayas, and 56 sitios in Luzon. These sitios’ (electrification was) funded by previous years’ General Appropriations Act[s] (GAA),” the NEA’s communications office said. The overall number of rural villages that were energized stood at 125,581 or 84.46% of the total that are within the coverage areas of 121 electric cooperatives, as of Feb. 28.

Rice inventory THE rice inventory as of March 1 fell 4.5% year on year to 2.08 million metric tons (MT), the Philippine Statistics Authority (PSA) said. In its rice and corn stocks inventory report, the PSA said rice stocks held by households rose 25.4% year on year to 1.23 million MT, while inventory in commercial warehouses fell 18.3% to 584.66 thousand MT. Rice stored in National Food Authority (NFA) depositories fell 44.9% to 265.32 thousand MT.

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Family planning seen as key to poverty reduction T Thank you for trusting us!

HE Commission on Population and Development in Region 10 (Popcom 10) said the government's intensified family planning (FP) services for women and couples have helped reduce the number of poor families in some Nor thern Mind anao provinces.

CRIMSON SKIES. Crimson skies reflect on the waters in General Luna, Siargao Island in Surigao del Norte. mindanews photo by roel n . catoto

In a statement Tuesday, Popcom-10 cited data from the Philippine Statistic Authority (PSA) showing poverty incidence among families in Bukidnon "drastically dropped" to more than half from 47 percent in 2015 to 22.2 percent in 2018. Popcom-10 noted that data also showed the poverty incidence among the population decreased from 53.6 percent in 2015 to 27.5 percent in POVERTY/PAGE 6

Malaya plant buyer NMMC steps up Covid response, is battery storage to 'slow down' other services investor in Zambo By ERCEL MAANDIG, Reporter

By MYRNA M. VELASCO, Contributor

FORT Pilar Energy Inc., which is the winning buyer of the 650-megawatt Malaya thermal power facility, is a new company that currently has investment of P5.0 billion for 100-megawatt hour (MWh) battery energy storage system (BESS) facility in Zamboanga Peninsula, according to asset-seller Power Sector Assets and Liabilities Management Corporation. Fort Pilar Energy’s win in the negotiated divestment of the Malaya plant on May 7 this year came as a major surprise in the power sector, because it had beaten more entrenched player AC Energy Corporation (ACEN) of the Ayala group in that privatization exercise of the

government. The new company, which was incorporated in 2019, tendered a purchase price of P3.123 billion versus Ayala’s P2.22 billion bid – and both offers have been way above the minimum offer price of P1.845 billion that was set for the Malaya plant by the PSALM Board chaired by Finance Secretary Carlos Dominguez III. In a statement to the media, Fort Pilar Energy Inc President Joseph Omar A. Castillo noted that “the Malaya plant further bolsters the growing energy asset portfolio of Fort Pilar Energy.” He a d d e d t h a t t h e company envisions “a modern energy facility in the site INVESTOR/PAGE 6

NORTHERN Mindanao's biggest government-run hospital is set to "slow down" various medical services to devote most of its resources to the coronavirus disease

(Covid-19) response, following the resurgence of cases in the region. Dr. Julius Bernard Rocha, liaison officer, of the Northern Mindanao Medical Center

(NMMC) said Monday that hospital operations will not stop but instead, the physical movements would be reduced so that health workers can focus on the rising Covid-19 cases. RESPONSE/PAGE 6

FISHING VILLAGE. The fishing village of Milbuk in Palimbang, Sultan Kudarat is home to the town’s Christian population. mindanews photo by bong s. sarmiento

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