BusinessWeek MINDANAO
2013 ppi’S Best in Business and Economic Reporting
YOUR Mindanao-wide BUSINESS paper
Volume VI, No. 069
Market Indicators
As of 6:23 pm November 27, 2015 (friday)
FOREX
PHISIX
US$1 = P47.14
6,927.07
X
2 cents
X
136.18 points
Briefly No P1B loan for polls By BEN D. ARCHE DIGOS CITY, Davao del Sur – Governor Claude P. Bautista here strongly denied that the P1 billion loan of the Provincial Government from the Development Bank of the Philippines (DBP) will be used in the forthcoming elections of 2016. Bautista reacted to a statement released by his political rivals that the loan is in preparation of the coming elections. Executive Assistant Marivic Hubac, however, clarified that the proposed P1-B loan is still under study and is not approved yet.
Mindanao Filmfest DAVAO City -- Short films shot and produced in the provinces in Region-XI will be shown during the 11th Mindanao Film Festival. Among these films from the provinces include a selection coming from the Nabunturan Independent Film Exchange (Nabifilmex ), a film festival held in Nabunturan, the capital town of Compostela Valley Province. Among these films from Nabifilmex include Supot, Tami-aw, Pangagho and Pantok, these films were created by Comvalenyo filmmakers deriving from local stories.
2014 ppi’S Best in ENVIRONMENTAL Reporting
P15.00
Cepalco sees regulatory approval for add’l power www.businessweekmindanao.com
C
Monday | November 30, 2015
By MIKE BAÑOS, Editor-at-Large
AGAYAN de Oro power consumers are hopeful for a merrier Christmas as local distributor Cagayan Electric Power and Light Co. (Cepalco) is expecting regulatory approval in its application for provisional authority for additional power to be granted anytime this week.
Sources at the Cagayan Electric Power and Light Co. (Cepalco) told BusinessWeek Mindanao the Energ y Regulator y Commission
would act on its petition for a provisional authority filed last September 15, 2015 since the specified 75 day period for cepalco/PAGE 7
UNICEF: Children to bear brunt of climate change By BONG D. FABE, Contributing Editor
“THERE may be no greater, growing threat facing the world’s children – and their children – than climate change. This mounting global
crisis has the potential to undermine many of the gains we have made in child survival and development unicef/PAGE 6
Normin’s wood industry seeks looser rules for log sourcing By MARK FRANCISCO, Staff Writer
THE Northern Mindanao Tree Planters and Wood Industry Federation, Inc. is asking the Department of Environment and Natural Resources (DENR) to relax a provision of Executive Order (EO) No. 23 that restricts log processors to source their raw products only from contracted suppliers. “We are bound by law to abide by the order requiring us to present a five-year log supply contract from
our sources. But most tree plantations here in Region 10 (Northern Mindanao) are small farm holdings which cannot meet the minimum five-year volume requirement as stipulated in EO 23,” said Prudencio T. Plaza, Jr., president of the federation with 67 members. In a dialogue with DENR Regional Executive Director Ruth M. Tawantawan this week, Mr. Plaza said the restriction, issued in 2011, wood/PAGE 7
SUNTRUST PALM CITY. Suntrust Properties, Inc. signed on Friday a joint venture agreement with PNS Development, Inc. to develop a P2.6 billion Suntrust Palm City, a low-cost development project located at Brgy. Mankilam, Tagum City. In the photo are Ms. Emilia Alegre, Treasurer of PNS Land Corp., Atty. Harrison M. Paltongan, President of SUNTRUST Properties Inc. and Mr. Lemuel Podador, Chairman of Board of PNS Land Corp. together with the witnesses (L-R) Jerry R. Rubis, FVP. Sales Marketing of SUNTRUST Properties Inc., William Coyacot, representative of the office of the Mayor of Tagum City, Eunice Taongan, PNS Corporate Secretary, Engelbert Eugenio, representative of Provincial Governor’s Office - Davao del Norte, and Engr. Leonora P. Gutierrez, Assistant Vice President of SUNTRUST Properties Inc. photo provided
Megaworld launches P2.6-B Palm City project in Tagum SUNTRUST Properties’ Inc. launched on Friday its newest prop e r t y d e vel opment project known as Suntrust Palm City, a 27.7-hectare low-cost housing subdivision in Brgy. Mankilam, Tagum City. With an initial investment of P2.6 billion, Suntrust Properties, a wholly-owned subsidiary of Megaworld Corporation, has signed
a joint venture agreement with its development partner PNS Development, Inc. on Friday at the Big 8 Corporate Hotel here. Suntrust president Atty. Harrison Paltogan said this new investment indicates the company’s business confidence in Tagum City’s economic potentials. “It is hig h t ime to contribute to Tagum City’s
progress, we wanted to be part of Tagum’s development and it is somehow our contribution to the economic progress in the city by building a premier horizontal property, the biggest single development in Tagum,” Paltogan said. Lemuel R. Podador, president of PNS Development Inc., for his megaworld/PAGE 7
Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776