BusinessWeek MINDANAO 2 cents
THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 53
Market Indicators
As of 6:34 pm oct. 7, 2014 (Tuesday)
FOREX
PHISIX
US$1 = P44.63
7,239.38 points
cents
X Briefly 7.65
points
X
12
Rapid market survey SURIGAO City -- The Department of Trade and Industry (DTI) together with the Philippine Association of Black Iron and Galvanized Iron Pipes and Tubes Manufacturers, Inc. has conducted recently a rapid market survey on Black Iron and Galvanized Iron Steel Pipes Philippine National Standards (PNS 26:2004) in some leading hardware retailers in the city. The activity is undertaken to look into the types and quality of steel pipes being sold in the local market as to its conformity in prescribed standards set by the Bureau of Products Standards (BPS). According to DTI-Surigao del Norte Provincial director Celestino Negapatan, it was found out during the monitoring that there are few hardware establishments having investors of steel pipes that did not conform to the product standard under PNS 26:2003 in terms of thickness, zinc coating and the required markings.
Coop month DAVAO del Norte -- The Provincial Cooperative Development Council (PCDC) of Davao del Norte laid down the activities for the Cooperative Month Celebration on October. Engr. Humber Cabunoc, PCDCP secretary, disclosed in an interview that the activities for the provincial celebration of the Cooperative Month are anchored on the local theme, “Collaborate and Innovate Cooperatively.” “For this year, the PCDC deemed to craft a local theme instead of carrying the national cooperative month theme of ‘CO-OPS 2020: Raising the bar,’” Cabunoc said. He said that PCDC chose to have a local theme to attune the celebration with the local flavours and concerns.
P15.00
Power business main driver of Aboitiz firms www.businessweekmindanao.com
Wednesday | October 8, 2014
Aboitiz leads AEV’s growth as global player
T
By MIKE BAÑOS, Editor-at-Large
HE continued expansion binge into its power ventures is expected to drive Aboitiz Equity Ventures (AEV) further into robust growth as it marks its 20th anniversary as a publicly listed company this year and consolidates its footing as a player in the global market.
Aboitiz Power President/COO Antonio R. Moraza speaks during the Mindanao Media Party held Oct. 3, at SMX Lanang in Davao City.
“The most significant highlight of AEV’s growth story has been the robust expansion of our power business, especially over the past 7 years, and AboitizPower will continue to spearhead the Group’s future growth,” said Antonio R. Moraza, Aboitiz Power Corporation (APC) President and
Chief Operations Officer, during his keynote message delivered during the Mindanao Media Party 2014 hosted by APC at the SMX Lanang in Davao City last October 3. Moraza said going public in 1994 was intended to fuel our company’s growth and give us
the muscle to attain our business goals. “O u r f o c u s e d s t r a t e g i c initiatives, key acquisitions, strong partnerships and good corporate governance led us not only to create economic value, but also earned us the recognition of being one of the best-managed companies in the Philippines,” he said. “It certainly has been an exciting journey of expansion for AEV, as we continue to build our businesses while staying focused on our mission to create long-term value for all our stakeholders. We ensure that value created also accrues to our customers, our host communities, aboitiz/PAGE 7
IN TIME FOR CONSUMER WELFARE MONTH:
Cepalco drops generation charges By BWM News Bureau
JUST as the country’s biggest utility is again poised to raise its generation charges as a result of the four day shutdown of the Malampaya fueled power plants, Cagayan de Oro’s electric distribution utility dropped its retail prices starting with this month’s billings.
In a statement sent to media, the Cagayan Electric Power & Light Company, Inc. (Cepalco) informed its customers of the reduction of its distribution rates starting with the October 2014 billings based on the Energy Regulatory Commission’s cepalco/PAGE 7
MAN’S TOUCH: While a vendor trims off the stem of Malaysian Mumps, another one carries newly delivered flowers at a flower shop outside the Saint Augustine Metropolitan Cathedral in Cagayan de Oro City, October 4, 2014. mindanews photo by erwin mascarinas
NSC creditors win appeal vs India’s Global THE Singaporean High Court has ruled in favor of the creditors of the National Steel Corp. (NSC) reversing an earlier decision by an arbitration court that favorably granted the petition of the Indian owners of the old and idle steel mills in Iligan City. The high court rendered its decision last July 31, 2014
to an appeal by the NSC creditors against NSC owners — Indian-controlled Global Steel Philippines (SPVAMC), Inc. and Global Ispat Holdings (SPV-AMC). Sources said the Singaporean Supreme Court in its ruling had “set aside” the “partial award” granted by the arbitration court in favor of petitioner Global
Steel and Global Ispat. The high court cited jurisdictional issues. Global Steel and Global Ispat had already appealed the high court’s decision. It could be recalled that NSC creditors led by the Philippine National Bank lost to a case filed by the Indian firms before the Singapore nsc/PAGE 7
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