BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 54
Market Indicators
As of 5:54 pm oct. 9, 2014 (thursday)
FOREX
PHISIX
US$1 = P44.62
7,201.89 points
18
X X Briefly 16.21
cents
points
Poverty reduction SAPANG Dalaga, Misamis Occidental – Mayor Manuel L. Animas has thanked the Department of Trade and Industry (DTI), this province, for the P2.5 million funds it allocated for the town’s poverty-reduction projects, this year. During the funds turnover held at the flagraising ceremony held at the Municipal Plaza last Oct. 7, the mayor thanked Delia M. Ayano, provincial director of DTI-Misamis Occidental, who personally delivered five checks, which he received and deposited at the Municipal Treasury. Although named under the proponents of the projects, the funds will have to be liquidated following the necessary accounting and auditing regulations of the government, thus, it has to be deposited at the Municipal Treasury, Ayano said.
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Aboitiz Renewables, Inc., has started exploration activity in support of a potential 200-megawatt geothermal power project, to be sited on a 20,000-hectare area at the boundary of this city, Davao del Sur and North Cotabato. The project will tap the geothermal potential of Mt. Apo. AEV’s operator of small hydroelectric power plants, Hedcor, Inc., has completed four plants in Sta. Cruz, Davao del Sur, with the first two supplying part of the requirements of Davao City and rest commissioned to supply other parts of Davao del Sur province. Hedcor is also building two other power plants in Bukidnon.
P15.00
Filinvest plans to double power output in 5 years W
By IRENE DAYO, Staff Writer
HILE the construction of its 405-megawatt coal power plant in Misamis Oriental is in fullswing, Filinvest Development Corporation, through subsidiary FDC Utilities, Inc., announced it is aiming to double its power generation capacity to 1,000 megawatts in five years by considering brownfield plants to supplement its greenfield projects. In a press statement, FDC president Josephine Gotianum-Yap said: “We’ll a l w ay s t ar g e t for t h at (1,000MW). I’m not saying anything’s definite but we’re always looking at a number of different opportunities.” She said that to achieve this goal, “we look at partnerships,
CONSUMER WATCH. DTI Misamis Oriental Provincial Director Eliza Pabillore and Cagayan de Oro CIty Price Coordinating Council Chair Jose Edgardo Uy test the TImbangan ng Bayan with complete test weights with the assistance of City Agriculturist Hector San Juan during the turnover ceremony held 19 September 2014 at Cagayan de Oro’s Cogon Market as CEED Head Peter Abejuela looks on. photo courtesy of dti misamis oriental / tin laurente
October 2014 is Consumer Welfare Month By MIKE BAÑOS, Editor-at-Large
Power project
Friday | October 10, 2014
CONSUMER Welfare Month (CWM) is held every October pursuant to Presidential Proclamation No. 1098 under the aegis of the National Consumer Affairs Council (NCAC), which was created under Republic Act 7394, better known as the “Consumer Act of the Philippines,” to improve the management, coordination and effectiveness of the nation’s consumer welfare programs. T h e D e p ar t m e nt of
Energy (DOE) leads the 2014 Consumer Welfare Month (CWM) celebration wit h t he t heme “Sapat na Imp or mas yon : Sus i sa Wastong Paggamit ng Enerhiya” aiming to highlight consumer education in choosing the best energy choices. DOE backed this thrust with the recent launch of its consumer websites — Kuryente and WattMatters, aimed at educating the public on the fundamentals of power
industr y operation and efficient energy utilization. However, although it has taken a back seat in consumer advocacy for CWM this year, as the primary agency tasked with consumer welfare, the Department of Trade and Industry (DTI) continues its activities for the month. The highlight of the CWM celebration in Misamis Oriental is the turnover of the Timbangan ng Bayan to key public markets in the province from October 13-15. DTI Misamis Oriental consumer/PAGE 7
we’re open to brownfield. What we’ve done so far is greenfield.” Howe ver, G ot ianunYap noted that there are no longer many plants available for acquisition now since many government assets have already been sold. filinvest/PAGE 7
Sen. JV Ejercito to grace 2014 JCI Nat’l Convention SENATOR JV Ejercito is set to grace the much-awaited annual gathering of some 1,200 members of the Junior Chamber International Philippines (Jaycees) on Saturday, October 11, at the Limketkai Atrium, this city. The Senator said he is looking forward to a fruitful participation in the national convention activities and fellowship time with his fellow Jaycees from various local chapters all over the Philippines. “Ï see to it not to miss the annual JCI National because it is always filled with learning and fun, and at the same time, it is our
renewal of commitment for JCI’s social advocacies for the country and as active members of JCI Philippines,” Ejercito said. As JCI’s former National President for Asia and Pacific in 1998, Senator Ejercito is tasked to lead the Presidential Ball and TurnOver Ceremonies of the ejercito/PAGE 7
Local Davao property developer ventures into mixed-use project By CARMELITO Q. FRANCISCO, Correspondent
DAVAO City -- Homegrown Es candor De velopment Corp., a new player in the brisk local property industry,
is taking measured steps as it reported spending P60 million so far in land and infrastructure preparation
for its first mixed-use upscale project in a 5.3-hectare area. Construction for the project’s residential component is scheduled to project/PAGE 7
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