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BusinessWeek
YOUR LOCAL ONLINE BUSINESS PAPER
www.businessweekmindanao.com Issue No. 21, Volume III •
Market Indicators
AS OF 5:33 P.M., NOV. 3, 2011 (Wednesday)
;
0.14 cents
PHISIX 4,210.25 points
50.16 points
;
FOREX US$1 = P42.90
Briefly Limited port
DAVAO CITY -- The Bureau of Customs’ district office is facing space constraint in its desire to increase collections noting facilities of the Philippine Ports Authority for cargo containers are not only crowded but also said to be inadequate. Martiniano M. Bangcoy, acting district collector said that because of this, some importers have opted to bring their cargoes to privately run container yards. The storage payment for these cargoes then goes to the owners of the private yards, instead of going to the government. Although the city’s Sasa wharf has about 19 hectares in area, only less than half is allocated as container yard. The berthing facility of the wharf, where the ships dock, is just 1,150 meters with a controlling draft of 10.6 meters, he said.
November 4-6, 2011
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Ayala keen to operate Laguindingan airport By ALLAN MEDIANTE Executive Editor
R
EAL ESTATE developer Ayala Corp is now diversifying its business interest, this time eyeing to operate the Laguindingan International Airport in Misamis Oriental.
Peace Caravan
A 40-vehicle peace caravan kicks off November 3 from this city as a gesture of support for President Benigno Aquino III’s call for “all-out justice”. Dubbed “Lakbay para sa Kapayapaan”, the five-day caravan will have participants from the conflict-affected areas of Basilan, Sulu, Tawi-Tawi, Maguindanao, Cotabato, Davao and Lanao provinces and will take the Pan-Philippine Highway from Butuan, Surigao del Norte, Samar-Leyte and thence to Bicol and end in Metro Manila on November 7, Eid’l Adha or the Feast of the Holy Sacrifice under the Muslim calendar, a national holiday.
NOW OPEN EN
KIDS FOR ALL-OUT JUSTICE. Four-year old Maria Christine Uyan and Mia Joy Makapilit, two years old, join yesterday’s Caravan for Peace or Lakbay para sa Kapayapaan in Cagayan de Oro calling for all-out justice for the 19 soldiers recently killed in an ambush in Basilan. The five-day Caravan will pass through the PanPhilippine Highway and end in Manila on Nov. 7 in time of Eid’l Adha or the Feast of the Holy Sacrifice in the Muslim calendar. PHOTO BY ROLANDO SUDARIA
AboitizPower reopens Ambuklao plant By BUTCH D. ENERIO Correspondent
BAGUIO City -- SN Aboitiz Power-Benguet (SNAP-Benguet) has proven that hard work does
pay off after the successful rehabilitation and recent reopening of the Ambuklao Hydroelectric Power Plant. The previously decommissioned power plant has been
rehabilitated for three years and upgraded to 105-megawatts (MW) from its former 75MW. The local blessing was led by Acting Governor of BenPOWER/PAGE 7
M’nao LGUs ask for bigger role in peace talks By CARMELITO Q, FRANCISCO Correspondent
DAVAO CITY -- Local government units in Mindanao have asked the government to give them a bigger role in the peace process by allowing them to participate in the government panels negotiating both with the Moro Islamic Liberation Front (MILF) and the National Democratic Front (NDF). LGU/PAGE 9
In a media statement, Ayala chief financial officer Delfin Gonzalez said Ayala corp., one of the country’s oldest conglomerate, wants to add airport operations to its list of new businesses as it pursues a strategy to widen its presence in the country’s underdeveloped transportation sector. He confirmed the company’s bid for the right to operate the nearly completed Laguindingan airport. The P7.8-billion project put under the Aquino administration’s Private Public Partnership (PPP) program will be the first international air gateway in northern Mindanao and will service Cagayan de Oro City and neighboring areas. It is expected to be operational by the second or early third quarter of next year. “We are looking at possibly participating in that project so it can help spur the development of the adjoining areas,” Gonzalez said, referring to the operations and maintenance contract for Laguindingan Airport. Ayala is targeting additional synergies as the airport sits on a 393-hectare property which was partly donated by the conglomerate, he said. “We own 500 hectares around the airport,” Gonzalez said without providing AYALA/PAGE 9
Bangko Sentral okays ONB micro-banking expansion By CARMELITO Q, FRANCISCO Correspondent
DAVAO City – Trailblazing One Network Bank is initially establishing next year five micro-banking offices in the city in response to the recently-approved circular of the Bangko Sentral ng Pilipinas. These offices, the bank said in a statement, will provide services to smaller accounts. Among these services are deposits and with-
drawals, check deposits, loan windows for microfinance accounts, other microfinance products and purchase of foreign currencies of up to $300 per client. The offices will be located in Catalunan Grande, Cabantian, Bunawan, Sasa and Piapi. The bank is spending about P4.17 million as capital expenditure for each office is about P834,000. These offices will each have ONB/PAGE 9