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BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 73, Volume III • May 11-13, 2012
Editorial: 088-856-3344 • Advertising: 0917-7121424
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Market Indicators
AS OF 6:01 P.M., MAY 10, 2012 (Thursday)
FOREX
PHISIX
US$1 = P42.39
5,192.10 points
22.69 points
;
2 cents
;
Briefly RC shelter building ILIGAN City -- The construction of 385 houses for Sendong survivors at the site called “Digkilaan Red Cross Village” has started after the groundbreaking ceremony last May 8 in Barangay Digkilaan, Iligan City. The occasion was led by Iligan Mayor Lawrence Ll. Cruz and City Vice Mayor and Philippine Red Cross Governor Henry Dy, and authorities from the Red Cross and Red Cross Movement from other countries. The relocation site is a threehectare lot situated at Purok Narra of the said Barangay and is owned by the city government.
Livelihood projects
DAVAO City -- The Department of Agriculture (DA) has earmarked multimillion funds for various livelihood projects to aid farmers, fisherfolk, women and indigenous peoples in Mindanao. The DA’s Mindanao Rural Development Program (DAMRDP) has already spent a total of P388.25 million for its livelihood arm. While, another P345.37 million were downloaded to on-going projects and those ready for implementation; and a total of P412.30 million for those new projects under preparation by the People’s Organizations (PO) making the overall portfolio of CFAD to approximately P1.3 billion.
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TATE-RUN National Power Corp. (Napocor) has completed the rehabilitation of the Pulangi IV hydroelectric power plant in Bukidnon on Tuesday, or nine days ahead of the original target date of May 17. The plant is a key hydroelectric power source as it supplies half of Mindanao’s energy needs. Napocor said it has completed the rehabilitation of Pulangui unit 4 in Bukidnon on May 8, nine days ahead of the scheduled May 17 completion. “Our plant personnel at Pulangui 4 worked 24/7 with our
private contractor to bring the power plant back on line at the earliest possible time,” Napocor President Froilan A. Tampinco said in a statement yesterday. Since the completion of repairs, Pulangui 4 is now capable of producing 150 megawatts (MW), a capacity which is expected to increase to 250 MW during the
peak hours. Unit 4 of the 255-MW Pulangui hydroelectric power plant had been shut down earlier this week to allow for repair and maintenance works. The shut down of the power plant had created a supply gap of around 120 MW in Mindanao which was already struggling with the lack of electricity and had already been experiencing rotating brownouts in some areas. Repairs to Pulangui 4 worth P7.11 million had included fixing the channel where the water for the plant rushes through to the
Agus-Pulangui hydro earns P68-B for gov’t
Air traffic up
A TOTAL of 8,596 incoming and outgoing flights have been noted in the two primary local airports that cater to commercial flight operations in Region 10 last year. These airports are the Ozamiz Airport located in Barangay Labo, Ozamiz City in Misamis Occidental and the Cagayan de Oro Airport in Barangay Lumbia, Cagayan de Oro City, Misamis Oriental. “These number of flights actually increased by 15.55 percent compared to 7,439 flights during the previous year,” Engr. Naga Rascal, Area Manager of the Civil Aviation Authority of the Philippines (CAAP), Region 10, said.
turbine. Pulangui, along with the 700MW Agus power plant, provides over half of Mindanao’s power requirement. Stakeholders in Mindanao are urging the government to maintain ownership and operation of the two power plants. Malacañang supports the mixed use of power barges and hydro plants, as well as more traditional means of power generation, to achieve the power deficit of 234 megawatts in Mindanao, even as coal-fired power plants are expected to be completed by 2014
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50 kids abandoned per month: report A SENATE report reveals an average of 50 children are abandoned by parents every month. This has prompted Cagayan de Oro Rep. Rufus Rodriguez
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and Abante party-list Rep. Maximo Rodriguez, Jr. to introduce a measure imposing higher penalties for delinquent parents. Under House Bill 1056, parents
who abandon their children face a jail term of six months and one day to 12 years and a fine of at least P50,000 but not more than KIDS/PAGE 7
MINDANAO Development Authority Chair Luwalhati Antonino bared that state-owned Agus and Pulangui Hydro Power complex earned P68 billion or an annual average of P6 billion since 2001 but whatever net income it generated was eaten up by other ‘losing’ government power assets in Mindanao. Antonino was reacting to the statement issued recently by Power Sector Assets and Liabilities Management (PSALM) President Emmanuel Ledesma, Jr. on the reported losses of up to P15 billion between 2001 and 2011 from its operation of the government’s power assets in Mindanao. “It’s not a pure allegation that Agus and Pulangui are net income earners, but a strong position of the Mindanao power stakeholders backed by financial records of Napocor and PSALM,” Antonino said. Antonino said PSALM’s finanHYDRO/PAGE 5
Triple Zipline: Camiguin’s newest adventure By JOE PALABAO, Reporter
ZIPLINE has now become a popular attraction in the countrysides as more resorts and mountain spring operators started to install this added backdrop to their adventure themes of having more fun and thrilling experience. Aside from the popular Dahilayan Adventure Park in Bukidnon, Camiguin
island’s rich resource of tourism-related establishments are now making zipline experience as a come-on for adventure lovers. Last month, J & A Fishpen Resort and Restaurant nestled at the blue Taguines Lagoon in Benoni, Mahinog town has introduced its one of a kind 1,200 meters triple zipline. Flying and ZIPLINE/PAGE 7
TRIPLE ZIPLINE. Camiguin’s newest attraction, a 1,200-meter triple zipline that traverses the Taguines Lagoon in Benoni, Mahinog town. It is owned and managed by J & A Fishpen Resort and Restaurant, a popular dining restaurant with a wide fishpen just a few distance from Benoni port. PHOTO BY MARC C. ALDEA