JULY 20,2012 BUSINESSWEEK MINDANAO

Page 1

BusinessWeek

THE NEW HD BOX. ONLY FROM PARASAT

YOUR LOCAL ONLINE BUSINESS PAPER

www.businessweekmindanao.com Issue No. 91, Volume III • July 20-22, 2012

Editorial: 088-856-3344 • Advertising: 0917-7121424

P15.00

Market Indicators

AS OF 5:34 PM JULY 18, 2012 (Thursday)

FOREX

PHISIX

US$1 = P41.68

5,220.55 points

64.57 points

;

; Briefly 4 cents

Container terminal

THE Mindanao Container Terminal located at PHIVIDEC Industrial Estate is now expanding. The planned MCT phase 2 expansion is for the food, bulk and grains terminal. The current container terminal has a two quay side gantry cranes measuring 30 meters high; 37 meters outreach and four rubber-tired gantry cranes that are capable of stacking up to four-level high containers in six rows. The planned expansion will give an additional 300 meters of wharf area and as shown in the google earth image below, the area being expanded is on the southern side going to Barangay Casinglot. The boundaries for the bulk and grains terminal are indicated by the arrows.

By RUTCHIE CABAHUG-AGUHOB Contributor

O

ROQUIETA City -- A total of 954.10 megawatts (MW) or 62.72 percent of the Mindanao power grid’s installed capacity and 795.81 MW or 63.07 percent of its dependable capacity were provided by electric power plants from Northern Mindanao.

No mining gear

THE PRIVATIZATION Management Office (PMO) has managed to stop the Surigao City government’s planned auction of mining machinery and equipment which the former argues belongs to the national government. The Court of Appeals issued the temporary restraining order (TRO), dated July 13, stopping the auction scheduled on Tuesday. It also ordered the Surigao City government to show cause why a writ of preliminary injunction should not be filed against it. The machiner y had belonged to Marinduque Mining and Industrial Corp., now known as the Philnico Industrial Corp. (PIC)

Clogged drainage system caused water to stagnate along Sto. Nino road in Brgy. Lapasan, Cagayan de Oro City as rainy season continues and makes movements of motorists and pedestrians difficult. PHOTO BY GERRY L . GORIT

The Mindanao power grid has an installed capacity of 1,521.08 MW and a dependable capacity of 1,261.66 MW during the first quarter this year. Data gathered by the National Economic Development Authority (NEDA), Region 10 from the National Power Corporation show that the installed capacity of Region 10’s electric power plants remained the same at 954.10 MW during both quarters, but the dependable capacity,increased from 782 MW to 795.81 MW, or 1.76 percent. Engineer Leon Dacanay, Jr, regional director of NEDA-10, said that the POWER/PAGE 9

Coop Ville for Sendong survivors unveiled By BONG FABE, Correspondent

THE Federation of Peoples’ Sustainable Development Cooperative (FPSDC) led the official groundbreaking ceremony Tuesday of the Coop Ville situated in a 3-hectare property it donated to the national government through the Cooperative Development Authority (CDA) as permanent resettlement site for at least 300 families who survived the devastation of Tropical Storm

Washi (Sendong). “The property is provided by FPSDC and donated to the national government through the CDA,” said FPSDC chair Dr. Billy Tusalem in an interview after the ceremony. Tusalem added that the role of the city LGU is only to make sure that the property is ready for the construction of the 311 housing units for coop members who were victims of Sendong. But Tusalem said that it is not

only FPSDC who initiated the project. He said it is the outcome of the efforts of all cooperatives of the country which felt challenged after the Sendong catastrophe “to transform the crisis into an opportunity.” “The challenge (is) for us to share what we have, the framework of coop housing that we would like to share to these victims and enabling them to begin a good life, and SENDONG/PAGE 9

SUSTAINABLE COMMUNITY. Dr. Billy Tusalem, chairperson of FPSDC, said that Coop Ville will be a sustainable community. The ground breaking ceremony was graced by Arch. Antonio Ledesma, former Sen. Butz Aquino and Ating Koop Rep. Isidro Lico. PHOTO BY BONG FABE

Coal Asia’s targets P700M IPO proceeds Beside U.C.C.P., C.M. Recto Ave., Nat’l Highway, Cag. de Oro City

Cell No.: 0917-304-6195

BACK TO SCHOOL PROMO!

Trained by:

RICKY REYES & DAVID’S SALON Makati City

COAL ASIA Holdings, Inc. intends to spend P727.87 million in net proceeds from a planned initial public offering (IPO) to develop mines in Mindanao, documents showed, providing more details to the firm’s earlier announcement. Proceeds from Coal Asia’s listing COAL/PAGE 9


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