BWM January 30

Page 1

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 44, Volume III • Jan. 30-Feb. 2, 2012 Editorial: 088-856-3344

Market Indicators AS OF 6:15 P.M., JAN. 27, 2012 (Friday)

FOREX

PHISIX

US$1 = P42.87

4,679.89 points

; ; Briefly 2 cents

68.21 points

Davao water project

THE Davao City Water District reported the completion of its P126-million comprehensive mainline replacement program after more than two years. The project, which started in Oct. 2010 and completed at the end of December 2011, replaced a little more than nine kilometers of aging pipelines belonging to the largest among its eight water systems. The works covered excavation, pipe-laying, back filling, hydrostatic and leak testing, disinfection of pipeline, restoration of damaged pavement and application of thermoplastic. The water utility linked up with private contractor Vinhar Construction and Marketing Corp. for quicker implementation because some of the project areas are within major transportation routes in the city.

Advertising: 0917-7121424

Electric coops vow for no rate increase By ALLAN M. MEDIANTE, Executive Editor

M

INDANAO electric cooperatives have reiterated their position not to impose any increase on generation rates should the privatization of Pulangi and Agus hydropower complexes push through.

Mining bill

AKBAYAN Partylist spokesperson Risa HontevierosBaraquel said House Bill 6342 or the Alternative Mining Bill, is set to return control of the country’s mining industry out of the clutches of the large scale mining companies, and back to the communities and the local government units. “Malapit na lumabas sa committee ang Alternative Mining Bill, just harmonizing a few provisions,” said Hontiveros-Baraquel, one of the authors of the bill along with Representatives Lorenzo Tanada III, Walden Bello, Carlos Padilla and Rufus Rodriguez.

Dividends declared

TUNA processor Alliance Select International, Inc. will be paying P137.5-million worth of stock dividends today, the company told the Philippine Stock Exchange. “We would like to inform you that in accordance with the approval of Alliance Select International board of directors at their June 14 meeting, the company will be paying stock dividend amounting to 137.5 million shares at P1 per share,” the disclosure issued last week stated. The stock dividends make up 15.78% of the current issued and outstanding shares.

P15.00

TUNA EXPORTS. A man carries a tuna at a fishport in General Santos City. The US remains the Philippines’s top market of tuna cornering 53 percent of the country’s exporst. FILE PHOTO

US remains top market of PH tuna DAVAO City -- The United States remains the top export market of Philippine tuna, according to an official of the South Cotabato, Sultan Kudarat, Sarangani, and General Santos Federation of Fishing and Allied Industries Inc. (SFFAII). During the Program on Traceability for Revitalized Agricultural Competitiveness Enhancement (Program P-TRACE) at the Marco

Polo Hotel here on Thursday, SFFAII executive director Rossana Bernadette Contreras said the US market receives 53 percent of the country’s total tuna exports. The meeting was organized by the Departments of Trade and Industry (DTI) and Agriculture (DA) with the United Nations Industrial Development Organization (UNIDO). TUNA/PAGE 10

During the recent Mindanao Congress of Advocates on Renewable Energy Development (MinCARED) in Cagayan de Oro, Association of Mindanao Electric Cooperatives (Amreco) Chairman Sergio Dagooc said a resolution unanimously approved by members was submitted to Mindanao Development Agency chairman Lualhati Antonino. The resolution expresses, among others, Amreco’s position on issues pertaining to the privatization of the Pulangi and Agus hydro power plants. These include: • That in privatizing Pulangi and Agus plants, conditions must stipulate their stand of “no increase of generation rates of the plants’ output for 20 years; • Creation of a multi-sectoral group with technical capacity to monitor the out put of Agus and Pulangi HEPPs as COOPS/PAGE 9

Economic boom seen in Caraga region SURIGAO City -- Full economic activity is seen beginning this year in the Northeastern Mindanao as both foreign and domestic investors in agricultural, industrial, mining and tourism industries are already in place in the region’s five provinces and six cities. ECONOMIC/PAGE 10

ATS bares major rebranding ATS CONSOLIDATED has unveiled its new corporate rebranding program designed to reflect the company’s status as a leading shipper in the freight and logistics business and focus on its mission to provide a high level of customer service. As part of this program, the company has retained the brand 2GO to represent its entire range of service

• Change aims to strengthen company’s focus offerings. The announcement was made today by ATS Chief Executive Officer Sulficio Tagud Jr. “ATS is more than just a shipping company and we wanted a new identity that will unify ATS’s brands across all products and services. Following the

approval of the company’s principal stockholder, Negros Navigation Co. (NENACO), we have decided to change the name of the operating company into 2GO Group Inc.” Going forward, the company will function with three core business units. ATS/PAGE 10

PRESIDENT’S BRIEFING. A Brown Group of Companies President Robertino E. Pizarro (right), briefs President Noynoy Aquino on the progress of the site development of the Lumbia Resettlement Project during the president’s visit last week. PHOTO BY MIKE BAÑOS


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