BusinessWeek Mindanao

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BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

Issue No. 51, Volume II • May 2-8, 2011

Market Indicators AS OF 4:08 P.M., APRIL 29, 2011 (Friday)

FOREX

PHISIX

US$1 = P42.800

4,278.800 points

42.49 points

X

X Briefly 0.125 cents

No brownouts THE National Grid Corp. of the Philippines (NGCP) is expecting no power interruption in Mindanao this summer. “Based on our projections, we are not expecting any more brownouts in Mindanao this summer,” NGCP spokesman Cynthia D. Perez-Alabanza said. Alabanza said NGCP is also expanding its power-transmission highway. If there are power interruptions during the summer months, the problem is not with NGCP but with the power-generation plants, especially if the water levels in the hydroelectric power plants fall. She explained that their “no brownout projections” in Mindanao this summer are based on historical data, water level in the hydroelectric power plants and the maintenance schedule of these power plants.

www.businessweekmindanao.com

Aboitiz Power keen to build coal-fired plant By NELSON V. CONSTANTINO, Editor-in-Chief with CARMELITO Q. FRANCISCO, Correspondent

A

MID PROTESTS against the construction of the 300-megawatt (MW) coal-fired power plant in Davao City, Aboitiz Power Corp. has reaffirmed its commitment to pursue the planned $500-million project in a bid to supply the increasing power need of Davao region.

Trans-Asia shares LISTED POWER firm Trans-Asia Oil and Energy Development Corp. expects to raise P1.165 billion from a planned sale of shares on May 30 to June 3 to existing stockholders, the Philippine Stock Exchange (PSE) said in a memorandum posted on its Web site on Friday. Proceeds will be used to bankroll the construction of a clean coalfired power plant in Batangas and a geothermal plant, the PSE said. “Each eligible stockholder is entitled to subscribe to seven rights shares for every 10 common shares held as of the record date [May 18],” the PSE said. Under the fundraising scheme, Trans-Asia will sell 1.165 billion common shares at P1 per share, a 21.9% discount from the P1.28 price when the company’s board approved the stock rights offering on Mar. 21.

B’non power project THE Board of Investments has granted various fiscal and nonfiscal perks to the Lopezes’ FG Bukidnon Power Corp. for its P106million, 1.6-megawatt (MW) hydropower facility. The incentives were given according to the provisions of RA 9513, or the Renewable Energy Act of 2008. The power facility, located in Manolo Fortich town, occupies a 13,959-hectare property. Its main diversion dam is located 5.5 kilometers from the forebay passing through the waterway canal. The forebay spans 2.83 hectares, with a storage capacity of 40,000 cubic meters.

JR BORJA ST., CAGAYAN. DE ORO CITY Tel No: 857-4113

P10.00

AMBULANT BEGGAR. An ambulant blind beggar plays guitar and a wind pipe at the foot of an overpass stairway along Recto Avenue. photo by rolando sudaria

In a press statement released on Friday, the company said it is ready to invest for the power plant as part of its “commitment to supply the region’s power needs as its communities, industries, investments and commercial establishments grow especially in Davao, which has the biggest power supply need in the region.” The planned project has been hit by several environmental advocacy groups and residents of the two bordering barangays of Binugao in Davao City and Inayawan in Sta. Cruz, Davao del Sur, the host site. “Aboitiz Power has been in Davao for fifty years. Throughout that time and until the present, the company considers ABOITIZ/PAGE 16

Mindanao container terminal nearly doubles March volume MCT keeps growth forecast despite hitches By RUEL PELONE Online Editor

THE Mindanao Container Terminal (MCT) handled more cargo in March, thanks to continued strong regional trade. The terminal posted a 48.8% jump in volume to 20,567 twenty-foot equiva-

lent units (TEUs) from 13,814 TEUs in the same month last year. A ga i n s t t a rge t s , t he March figure is also higher by 15%. “We really have a strong business here in MCT as well as in adjacent areas,” MCT seaport department manager

Dante Clarito said. “Aside from our usual customers, we received a big boost from the lumber sector this March,” Clarito said. “Our direct callers have likewise introduced bigger vessels at MCT to accommodate our increasing volume.” MINDANAO/PAGE 8

Containers stacked at the Mindanao Container Terminal yard.

Food sector eyes bigger markets Buseco retains top rating in with food safety certifications NEA assessment By MIKE BAÑOS Correspondent

SMALL and medium food manufacturing and processing industries in Northern Mindanao are eyeing increased business with food chains made through by certifications facilitated by a

food safety team. “We created the Northern Mindanao Food Safety Team, Inc. in response to the increasing demand for food certifications from national food chains to our client food companies,” said Alfonso P. FOOD/PAGE 16

CQ LIFESTYLE CENTER Bldg, JR Borja, St., Cagayan de Oro City Tel No: 856-9001

By ANN NOBLE, Bukidnon Bureau Chief

Northern Mindanao food sector seeking wider market through food safety certifications.

CAPISTRANO ST, CAGAYAN DE ORO CITY TEL NO.: 856-1660

MALAYBALAY City – The Bukidnon II Electric Cooperative (Buseco) has regained its top rating in the 2011 Overall Performance Assessment by Color Coding conducted annually by the National Electric Authority among the country’s BUSECO/PAGE 19

VAMENTA BVD, CARMEN CAGAYAN DE ORO CITY TEL NO. 858-1660

OSMEÑA ST. CAGAYAN DE ORO CITY TEL NO: 856-4019


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