BusinessWeek M I N DA N A O CREDIBLE
Volume VIII, No. 147 As of 6:00 pm May 18, 2018 (friday)
FOREX
PHISIX
US$1 = P52.33
7,672.28
6 cents
21.84
RELIABLE
X
points
Briefly
PSE roadshow THE Philippine Stock Exchange, Inc. (PSE) brought back its stock market roadshow to the city of Cagayan de Oro (CdO) last Saturday (May 19), three years after its last roadshow in the business center of Northern Mindanao. The free stock market roadshow dubbed “Achieving Financial Freedom through Investments” was held at the Limketkai Luxe Hotel. Our investor demographic shows a big potential to expand the investor base in Mindanao. As a bustling city, with very promising economic growth prospects, we believe CdO is an ideal location for our roadshow. We hope to help jumpstart the investment journey of our kababayans with this financial literacy initiative,” said PSE and CEO Ramon S. Monzon.
IN-DEPTH
Monday|May 21, 2018
cmyk
Lapasan Highway, Cagayan de Oro City
• Coal gains market share, hydropower recovers, oil-fired plants scale down
T
By MIKE BAÑOS, Editor-at-Large
HE industry sector in Northern Mindanao (Region 10) grew 5.9 percent in 2017, with the electricity, gas and water supply industry subsector growing the fastest at a robust 13.8 percent.
Data presented by the Philippine Statistics Authority Region 10 (PSA-10) in its 2017 Report on the Economic Performance of Northern Mindanao als o showed the mining and quarrying subsector growing 10.5 industry/PAGE 11
INDUSTRY GROWTH. Power generation in Northern Mindanao is expected to improve further once the first of GNPower Kauswagan 4x138MW coal-fired power generators in Kauswagan, Lanao del Norte starts feeding power to the Mindanao Grid later this year. GNPK has close to 400MW of signed contracts with distribution utilities, with the balance to be offered in the Mindanao Wholesale Electricity Market (WESM).
New fuel player vows to grab huge local market By GERRY LEE GORIT, Reporter
Online platform THE DAVAO City Agriculturist Office (CAO) has launched two programs tapping social media to increase interest in agriculture among the young. The DC AgriXchange platform, which uses Facebook (www.facebook.com/ groups/399597173812721/), serves as a direct virtual trading portal for growers and buyers. “We have more than 500 members online and we are encouraging farmers and potential buyers to take advantage of the online platform by joining the group,” CAO chief Leo Bryan D. Leuterio said in a statement.
P15.00
Cagayan de Oro
Power and water drive R10’s industry growth www.businessweekmindanao.com
Market Indicators
X
YOUR Mindanao-wide BUSINESS paper
SAND MINING. Workers of a manual sand mining operation ferry their wide hull boat along a portion of the Davao River in Barangay Waan, Davao City. mindanews photo by manman dejeto
A NEW entrant in the fuel distribution industry has maintained its edge in the face of the dominance of giant players in the country by
focusing on the local market in some parts of Mindanao. Engr. Ronald Reyes, general manager of Blu fuel/PAGE 10
69 winning NorMin SK bets ‘overage’ By JIGGER JERUSALEM, PNA
AT least 69 Sangguniang Kabataan (SK) winning candidates may not be able to assume their position because they are beyond the allowed age when they filed their certificate of candidacy. Of the 69 youth, 23 are from Cagayan de Oro, 22
Comelec-10 Regional Director Renato Magbutay from Misamis Oriental, seven said that once verified, SK from Lanao del Norte, one winners who turned out to from Bukidnon, and 16 be over the age of 24 on the from Misamis Occidental, election day will have their according to the records of the proclamation suspended. Commission on Elections-10 A winner who has already (Comelec-10), which did been proclaimed cannot not release the names of the perform their function as candidates. overage/PAGE 10
Blu Energy refueling stations penetrating Mindanao areas.
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776