BusinessWeek Mindanao (October 3, 2013)

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INSIDE LOOK

PH investors keep PNG tuna industry vibrant Economy

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Apple unseats Coca-Cola as top brand Corporate World

Davao City’s durian fruit finds its way to Singapore Agri-Business

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Robinsons Homes presents Nizanta at Ciudades in Davao Real Estate

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MINDANAO DAILY NEWS SECOND SECTION

www.businessweekmindanao.com

FOREX

PHISIX 6,362.26 points

8 cents

X

164.42 points

X

Briefly Rebuilding Zambo PRESIDENT Benigno S. Aquino III assured the people of Zamboanga City on Wednesday that there are available funds from the national government and disbursement could immediately start as long as the city government provides a detailed rebuilding plan. “ The funds are available, awaiting only the concrete plan, meaning, lahat nung details,” the President said in an interview af te r h i s at te n d a n c e t o t h e Brotherhood of Christian Business and Professionals’ Grand Breakfast at SMX Convention Center in Pasay City. The President said this plan includes the number of houses to be built, the layout of villages, the distances from commercial centers, funding mechanism, assistance to affected students, cash-for-work programs, the duration of project implementation and others.

Supplemental budget THE Cagayan de Oro City Council on Monday approved an Ordinance to a p pro pr iate P 7.6 milli o n supplemental budget to be taken from the city’s internal revenue allotment fund. City Ordinance No. 12668-2013 allowed the supplemental budget to be incorporated in the general fund in the Calendar Year 2013 with an estimated income of P7,653,333 and an estimated expenditure of the same amount. Vice Mayor Ian Acenas on Wednesday also said that a legislation relative to the approved supplemental budget was also carried to be made available to augment expenses in the coming barangay elections. City Ordinance No. 13666-2013 has appropriated the amount of P7.6 million from the unappropriated IRA to be made available to augment election expenses (P5.7 million), 20-percent Development Fund (P1.5 million) and 5% Calamity Fund (P382,666), Acenas added.

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Power coops capture 60% of M’nao market

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Thursday - October 3, 2013

YOUR LOCAL ONLINE BUSINESS PAPER

Market Indicators

Environment

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BusinessWeek MINDANAO As of 6:11 pm Oct. 2, 2013 (Wednesday)

Award recognizes importance of protected area conservation

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By LOVELY CARILLO, Contributor

LECTRIC cooperatives are providing power to 60 percent of Mindanao consumers but the remaining 40 percent of the market is being supplied by big power companies like Davao Light and Power Company (DLPC) and Cagayan Electric Power and Light Company, Inc. (CEPALCO).

POWER LINES. Linemen working on to fix an electric line. Power cooperatives provide the power needs of 60-percent of consumers in Mindanao. The rest of 40% are served by the island’s biggest power provider; Davao Light and Power Co. (DLPC) and Cagayan de Oro Electric Power and Lights Company, Inc. (Cepalco). mindanews photo by keith bacongco

Philippine banana growers surviving against all odds By AURELIO A. PENA Philippine News Agency

DAVAO Cit y -- Ba na na growers and farmers in recent years, had been pummeled left and right by various destructive forces in the Philippines -- low buying prices, plant diseases, bank debts, strong winds, floods, pole-vaulting, China ban, typhoon, among others, and it’s a miracle that this multimillion export industry is still standing and growing strong.

The Fi lipino natura l instinct to survive, however, is forcing more and more banana farmers and growers to “hedge” their business of ba na na fa rming a nd pro duc t ion w it h ot her lucrative crops like cacao, coffee or even oil palms. Of course, the idea is not to replace their more profitable bananas, but to hedge against the possibility banana/PAGE 23

Members of the Association of M i nd a nao Ru r a l E lec t r ic Cooperatives (AMRECO) account for 60 percent market share or an estimated 1,941,554 residential c o n s u m e r s i n M i n d a n a o ,” AMR ECO president Sergio C. Dagooc said during the I-Talk Forum at Seda Hotel in Davao City on Tuesday. AMRECO is composed of 33 electric cooperatives, six of which are considered SPUG or Small Power Utilities Group located in different Mindanao islands such as Jolo, Sulu, Tawi-Tawi, Dinagat and Basilan. The six cooperatives have

their own generators while the 27 others rely on the National Grid Corporation of the Philippines (NGCP). Dagooc said Republic Act 9136 mandates the NPC to operate power plants in isolated islands in the country and all the six electric cooperatives in these islands are under the National Power Corporation (NPC). He said 80 percent of their member cooperatives are Triple A cooperatives which means these are “financially, technically and institutionally stable.” Power/PAGE 23

Oro Chamber calls for re-assessment of DOE’s power growth projections By GRACE BEBER, Reporter

THE Cagaya n de Oro Cha mber of Commerce and Industry Foundation, Inc. (Oro Chamber) has asked the Department of Energy (DOE) to re-assess its electricity demand growth projections for the area, because actual economic expansion may not be as subdued as anticipated. Oro Chamber President Efren Uy, in a press statement, pointed out that the government’s projection will just be for 4.4-percent power demand growth, but their assumption is higher than that. “This 4.4 percent growth estimate for Mindanao has been there before typhoon

Mindanao Daily NEWS

Sendong and Pablo. So much development has happened after the two disasters,” Uy said. Uy noted economic expansion will primarily happen in urban areas, such as the burgeoning developments in Cagayan de Oro City. Davao is seen as another economic growth haven in Mindanao. The Chamber president said that in Cagayan de Oro alone, several malls, hotels and condominiums have been sprouting; and that was setting demand growth of almost triple compared to growth/PAGE 23

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