BusinessWeek M I N DA N A O CREDIBLE
Volume X, No. 48
Market Indicators FOREX
PHISIX
US$1 = P 52.211
7,896.24
6.10 cents
X
2.3
X
points
Briefly
Agus rehab THE rehabilitation of the Agus-Pulangi hydroelectric complex could take place beyond 2025, the National Power Corp. (Napocor or NPC) told a House committee. A Napocor engineer briefing the Committee on Energy, Rene B. Barruela, operations planning department manager wit Napocor’s Strategic Power Utilities Group, said studies on the proposed rehabilitation are scheduled or the fourth quarter of 2020, while the rehab itself “could go beyond 2025.” Mindanao depends heavily on cheap power from AgusPulangi, whose facilities have deteriorated over time, leaving it well below its original rated capacity. Meanwhile, commercial power plants being built on Mindanao have been taking a greater share of power capacity, raising the prospect of higher rates on average.
New branches DAVAO City — BDO Network Bank, the rural bank of BDO Unibank Inc., is looking at doubling its branches and offices to 480 within the next four years as the bank intensifies its lending to micro, small and medium enterprises (MSME). Jesus Antonio S. Itchon, president of BDO Network Bank, which used to be One Network Bank, Inc., said the bank also aims to hit 300 branches and offices by end of the year, but stopped short of providing details. Mr. Itchon said the bank will continue to concentrate on expanding in its base Mindanao, even as it has started penetrating Luzon and the Visayas following the buyout made by BDO in July 2015.
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M’danao farmers OK deals to supply rice www.businessweekmindanao.com
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By CARMELITO Q. FRANCISCO, Correspondent
D
AVAO City — A supply deal has been signed between Mindanao organic rice farmers and a US buying group for rarities of organic rice varieties, the Mindanao Development Authority (MinDA) said. MinDA, in a statement, also said that a Papua New Guinea delegation, headed
by Central Province Gov. Robert Agrobe, has arrived DEALS/PAGE 9
P R I VAT E LY O W N E D National Grid Corp. of the Philippines (NGCP) expects
to complete as scheduled next year the P52-billion project CONNECTOR/PAGE 9
Vis-Min grid connector on track for 2020 MAN VS BEAST. A cowboy grapples with a calf during the rodeo competition in Impasugong, Bukidnon on Saturday, 21 September 2019. The town prides itself as the home of the country's finest cowboys. mindanews photo by froilan gallardo
Oro-based transport coop ready for new franchises By MARK FRANCISCO, Reporter
WITH the recent announcement of L and Transportation Franchising
and Regulatory Board (LTRB) 10 director Aminoden Guro of upcoming new franchises
up for release, a transport cooperative in Cagayan de Oro City has expressed interest to avail of 50 taxi franchises. In a September 24 letter addressed to Guro, CDO TRANSCO chair Nestor Babol said that they are reiterating their earlier intent TRANSPORT/PAGE 9
FAREWELL, MASTER. Even his favorite dog, Brando, bids goodbye to PMA cadet 4th class Darwin Dormitorio who was buried at the Cagayan de Oro Gardens Wednesday morning. photo by gerry lee gorit
FDC Misamis turns 3, fetes outstanding coop-partners RECOGNITION. Officials of the Bukidnon Second Electric Cooperative, Inc., (BUSECO) while receiving the Most Outstanding Customer of the Year Award from FDC Misamis Power Corporation (FDC Misamis) with the firm’s executives – Chairman of Board Jonathan T. Gotianun (right) and President and CEO Juan Eugenio L. Roxas (left) during FDC Misamis’ 3rd Anniversary celebration and Customers’ Appreciation Night on September 20, 2019.*
FILINVEST’S FDC Misamis Power Corporation (FDC Misamis) in Villanueva, Mi s am i s O r i e nt a l, h a s celebrated its 3rd anniversary on September 20, 2019. As a fitting tribute to its
partners in the region, the firm once again held the Customers’ Appreciation Night as thanksgiving for their continued patronage of FDC Misamis. The highlight of the event
was the various recognitions the firm gave its partners. Hai l e d a s t h e Mo st Outstanding Customer of the Year was the Bukidnon Second Electric Cooperative, FDC/PAGE 9
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