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BusinessWeek
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www.businessweekmindanao.com Issue No. 53, Volume III • March 2-4, 2012
Market Indicators
AS OF 5:53 P.M., FEB. 29, 2012 (Wednesday)
FOREX
PHISIX
US$1 = P42.75
4,897.65 points
; ; Briefly 8 cents
77.22 points
Container terminal
DAVAO City -- The Anflo Management and Investment Corporation (ANFLOCOR) is investing P2.7 billion for the construction of the Davao International Container Terminal (DICT) in Panabo City, Davao del Norte. This was announced by ANFLOCOR President and Chief Executive Officer Alexander N. Valoria last Feb. 21 during the signing of loan documents with officials from Bank of the Philippine Islands. Security Bank will provide the other portion of the syndicated loan. “Preparations for the construction of DICT are underway and we’re looking at the eventual groundbreaking of this project later this quarter of the year,” Valoria said. DICT will have ship-to-shore cranes, which can serve gearless vessels, and brand new and modern container handling equipment and state of the art Terminal Operating Systems (TOS) that will ensure faster vessel turn-around time.
USAID-funded program
ALMOST 10,500 students from the cities of Cagayan de Oro and Iligan received new school kits as replacement for their materials destroyed by typhoon Sendong last December. Provided by the Growth with Equity in Mindanao (GEM) 3, a United States Agency for International Development (USAID)funded program under the oversight of the Mindanao Development Authority (MinDA), the assistance provides educational support to schools and students in heavily affected areas. The DepEd division offices of CdO and Iligan selected the beneficiary schools and prioritized those that were severely affected by Sendong and those that receive minimal support from recovery efforts due to the inaccessibility of their location.
White Island
CAMIGUIN, Mambajao -Camiguin’s White Island is now strictly enforcing the “no-take zone policy” within its marine protected sanctuaries following the passage of an ordinance establishing it as a marine park. Touching and removal of any marine organism inside the “White Island Marine Park” will be meted with a corresponding fine as approved by the local government. The White Island Marine Park has a total area of 315.6 hectares and is divided into several management zones with corresponding technical descriptions and regulations per zone.
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BSP approves merger of 3 Mindanao ndanao coop banks By IRENE DOMINGO Correspondent
THREE Mindanao-based banks have been given a go-signal to merge into a bigger cooperative bank that would efficiently serve and
become a major player in the island’s socio-economic development. The Bangko Sentral ng Pilipinas policy-making body, the Monetary Board, approved the consolidation on Feb. 16.
The three banks are the First Community Cooperative Bank of Misamis Occidental, Cooperative Bank of Davao del Sur, and Cooperative Bank of Surigao del Sur. BSP/PAGE 9
Power coops urged to utilize all sources By ALLAN MEDIANTE Executive Editor
T
HE Department of Energy has urged electric cooperatives and power generators in Mindanao to tap all available sources in an effort to curb the expected power shortage in the island due to maintenance shutdown of facilities and the onset of summer.
DoE Undersecretary Josefina Patricia M. Asirit said there is a need to exhaust all avenues to avert the crisis. “We are drafting a new circular [to use all available power] with additional provisions based on meetings with the energy family including the National Power Corp., National Electrification Administration, National Grid Corporation of the Philippines (NGCP), Power Sector Assets and Liabilities Management Corp. HOT CARS: Smuggled cars, consisting of 26 different models, displayed at the Mindanao Container Port at POWER/PAGE 10 Villanueva, Misamis Oriental, for eventual auction by the Bureau of Customs on March 7. PHOTO BY GERRY L. GORIT
Doha-Cebu flight suspension worries Mindanao expats By BENCYRUS ELLORIN Contributor
THE decision of the Qatari flag carrier Qatar Airways to stop their three weekly Cebu-Doha flights may affect Muslim-Filipinos from Mindanao in Southern Philippines, seeking work in the emirate. A travel and recruitment agency which operates office in Cebu and capital Manila said that the decision to stop Cebu–
Doha flights would affect their business in Cebu which caters mostly to Muslim-Filipinos from Mindanao. The businesswoman who also hails from Mindanao however, declined to be identified. But she said that Qatar Airways better reconsider their decision. Qatar Airways on Saturday announced in a statement the suspension of Cebu operations FLIGHT/PAGE 10
Two hydropower plants in Agusan del Norte eyed By ARJAY FELICILDA Correspondent
BUTUAN City -- Bacavalley Energy Inc. will be developing two hydropower projects to boost the powergeneration capacity in Mindanao. Peregrino Fernandez Jr., Bacavalley president, told reporters they will be pursuing these projects along with a foreign partner, which he declined to identify. PLANTS/PAGE 8