Businessweekmindanao

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Corrales & J.R. Rorja Streets Tel Nos. 8563239, 728421

BusinessWeek

YOUR LOCAL ONLINE BUSINESS PAPER

Issue No. 55, Volume III • May 30-June 5, 2011

www.businessweekmindanao.com

P10.00

Market Indicators AS OF 5:15 P.M., MAY 27, 2011 (Friday)

FOREX

PHISIX

US$1 = P43.43

4,274.51 points

; ; Briefly 0.050 cents

44 points

Ace Hardware at Savemore

M HOME improvement goes to Cagayan de Oro with the opening of ACE Hardware’s 53rd branch in the Philippines at SM Savemore in Kauswagan, Cagayan de Oro. The 1,000 square meter store, which is located inside Savemore in Kauswagan is definitely a haven for home improvement enthusiasts with anything and everything for fix-its, clean-ups, and do it yourself projects. Like all ACE Hardware stores worldwide, the new store in Savemore Kauswagan has an exciting selection of power tools, paints, electrical and plumbing equipment, building materials, outdoor equipment, and items for the car and the house. It also has a lawn and garden section, as well as exclusive products like the popular lead free and odorless ACE Paint line, which has over 2,000 colors to choose from as well as an automated color- matching program. ACE Hardware customers at Savemore Kauswagan can have the chance to win one of two Honda Wave 100 motorcycles in a raffle promotion sponsored by Firefly. Every P500 single or accumulated purchase until June 30 entitles one to a raffle coupon and a chance to win. You can also double your chances of winning when you use your Prestige Card, SM Advantage Card, and BDO Rewards Card.

MisOr paper

THE Dayawan Handmade Paper Project gains prominence during the 2011 National Trade Fair held recently at the Mall of Asia after being chosen as one of the 10 finalists in the Best Exhibit Award. Dayawan was handpicked among the 222 exhibitors all over the country and the only entry from Mindanao that made it to the final selection process. It took part in the exhibition as one of the SMEs that represented Northern Mindanao in the country’s premier trade fair. PIA-10

CebuPac cuts fares

INDANAO’S export industr y, buoyed by the economic rebound of the United States and surge in the China market, pulled off a remarkable 27 percent growth in exports last year.

Mindanao’s total exports in 2010 posted a double-digit growth of 27 percent valued at $ 2.8 billion from $ 2.2 billion a year earlier, according to data Friday from the Mindanao Development Authority (MinDA). MinDA said in a statement that last year’s export performance was propelled by increases in the export of coconut products, nickel and organic chemicals.

ABANDONED KIDS. A young girl carries her seemingly undernourished brother as she takes advantage of a stop light amid heavy traffic in downtown Cagayan de Oro to beg for alms from passengers. Some groups are blaming the population explosion as the major cause of poverty in the country. PHOTO BY ROLANDO SUDARIA

Aboitiz coal plant gets tax perks By CARMELITO FRANCISCO Correspondent with WIRE REPORTS

ALL plans are going well for Aboitiz’ power investments in Mindanao.

Last week, the Board of Investment has granted Aboitiz Power’s subsidiary Therma South Inc. (TSI) tax perks for its proposed P24.945-billion 300-megawatt power plant project in Davao.

The project site encompasses 46 hectares (has.) of land and 6.5 has. of foreshore area. Approximately 36.7 has. are in Davao City and the remaining 15.3 has. are in ABOITIZ/PAGE 11

It said that coconut oil, both crude and refined topped last year’s Mindanao export commodities with a total value of $ 794.6 million, up by 81.23 percent from $ 438.5 million in 2009. It surpassed banana, the traditional export winner of Mindanao, at 28.61 percent share in the total export growth in 2010. MinDA said that the exEXPORTS/PAGE 16

Cargo volume up 35% at Mindanao terminal MINDANAO Container Terminal (MCT) posted higher cargo volume in the first quarter of the year due to strong exports from the region. Latest data from Phividec Industrial Authority showed

first-quarter volume rose 35% to 51,282 twenty-foot equivalent units (TEUs) from 37,939 TEUs in the same period last year. The volume is also 15% higher than the 43,590-TEU CARGO/PAGE 8

Closing the loop between sanitation and food security By MIKE BAÑOS, Correspondent

THE Philippines’ largest national flag carrier, Cebu Pacific reduces fares for its Davao hub and flights to Malaysia in a seat sale from May 24-25, 2011 or until seats last, for travel from July 1-September 30, 2011. CEB offers P288 seats from Davao to Cagayan de Oro, and P588 seats from Davao, Cagayan de Oro, and Zamboanga to Cebu, as well as from Davao to Zamboanga. P888 seats are also available from Davao, Cagayan de Oro and Zamboanga to Manila, and from Davao to Iloilo.

LIBERTAD, Misamis Oriental – If consumers in the advanced Western economies have a hard times wallowing the idea of drinking water recycled from sewage, that may be nothing compared with what those in the Philippines have to go through when they consider eating foods raised from fertilizer recycled from human wastes. But that’s exactly whata local foundation based in the boondocks of Mindanao FOOD/PAGE 14

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

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

Dr. Elmer Sayre lectures visitors from Xavier University and their guests from Luzon at the WAND project site.

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

Construction Goes Full-Blast for Primavera Residences: Following the signing of a Term Loan for P130 million with Land Bank of the Philippines last March 28, Italpinas contracted Prompt Managers & Construction Services, Inc.(PMCSI) as its construction manager on April 29, 2011. Rolly M. Policarpio, Prompt president and general manager, said the firm will exercise safety, management and quality control over the project. In the signing is PMCSI President Mr. Policarpio shaking hands with ITALPINAS Chairman/CEO Romolo V. Nati. Also in photo is ITALPINAS Vice President, Atty. Jose D. Leviste, III. ADVERTORIAL

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

CONSTRUCTION/PAGE 6

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


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