BusinessWeek Mindanao (March 1-2, 2013 Issue)

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Market Indicators FOREX

PHISIX

US$1 = P40.70

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X

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Investment target

KORONADAL City -- Soccksargen’s Regional Development Council (RDC-12) has recently endorsed P32.3 billion worth of priority programs and projects for implementation in 2014. RDC 12 chair and General Santos City Mayor Darlene Antonino-Custodio said these programs and projects were gathered from investment plans proposed by 41 regional line agencies, five state colleges and universities and three government-owned and controlled organizations in Soccsksargen Region or Region 12. Soccsksargen Region consists of the provinces of South Cotabato, North Cotabato, Sultan Kudarat and Sarangani as well as the cities of General Santos, Koronadal, Tacurong, Kidapawan and Cotabato.

MOA for dev’t

DAVAO City -- Various g over nme nt ag en c ies here signed on Thursday a memorandum of agreement (MOA) to further boost development in the region’s priority industry clusters in the Davao Region. The MOA will upgrade the Davao Industry Cluster Capacity Enhancement Project (DICCEP) which is now being adopted nationwide as a development strategy and carries the name NICCEP (National ICCEP). DICCEP was started in Davao Region in 2007, with technical cooperation assistance from the Japan International Cooperation Agency (JICA). Under the MOA, the agencies have vowed to work together in implementing more relevant initiatives that will result to greater development in the eight priority industries of the region which include banana, mango, coconut, seaweed, mining, tourism, wood, information and communications technology (ICT).

Friday-Saturday

P15.00

March 1-2, 2013

Filinvest eyeing Misor’s second coal-fired plant

Issue No. 170, Volume III • As of 5:56 pm feb. 27, 2013 (Wednesday)

Cagayan de Oro City

every Mondays, Wednesdays, & Fridays

By BONG D. FABE, Correspondent

The new plant, which will be fully-owned by Filinvest Development Corp. Utilities, Inc. (FDCUI), a subsidiary of the Gotianun-led Filinvest Development Corporation, is expected to ease the burgeoning power problem in Mindanao. If pushes through, it is

the second coal-fired power plant in Misamis Oriental after the 212MW Steag State Power Corp. established in 1995, also at Phividec. FDCUI Corporate Communications Manager Ana Margarita Sanchez said the plant, which will be in operation for the next 25 years,

will source 80 percent of its coal requirement abroad and 20% from local coal mines. Sanchez said that while FDCUI strongly believes in renewable sources of energy, it chose to invest in a coalfired power plant “despite the many challenges from many groups” because (1) coal-fired power plant has short construction period; (2) it is the most feasible at present; and (3) coal is readily available. “We cannot rely for a long time on fossil fuels. We should use renewable energy eyeing/PAGE 7

DESPITE government’s assurance to put an end to Mindanao’s recurring power shortage, a state-run research institute has warned the island is poised to suffer from power outages again this summer after no additional capacity came on stream. Philippine Institute of

Development Studies (PIDS) senior research fellow Adoracion Navarro said the demand for power in Mindanao has spiked through the years with rapid urbanization and increased industrialization. Forecasts for 2010-2019 show an annual average demand growth of 4.28 percent

in Mindanao, higher than the national average of 3.63 percent. Citing 2012 data from the Department of Energy (DOE), the study notes that the Mindanao grid at present has 37.31 percent base load generating capacity, a far cry suffer/PAGE 7

A

P30-billion 405-megawatt (MW) circulating f luidized bed (CFB) coal-fired thermal power plant will soon rise in an 84-hectare area within the Phividec Industrial Estate in Villanueva, Misamis Oriental.

…but study says Mindanao to suffer brownouts again

advertorial

Reg’l arbitration affirms dismissal by NGCP of its erring employees THE National Labor Relations Commission (NLRC) recently dismissed three cases of illegal termination of employment filed against the National Grid Corporation of the Philippines (NGCP) for lack of merit.

In a decision handed by NLRC’s Regional Arbitration Branch No. XIII in Butuan City on January 30, the court denied the claims for reinstatement, back wages, damages and dismissal/PAGE 7

J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY

EYES OF DESPAIR. A young scavenger carries his loot to a buy-station. Poverty, as a result of lack of economic opportunities, is the main problem facing the country today and which local and national candidates need to address, at least in their campaign platforms. photo by mio cade

Villar continues surge in poll surveys

Villar

FORMER Las Pinas Rep. Cynthia Villar, popularly known as “Misis Hanep Buhay” due to her livelihood programs,” jumped from the 9th place to the 7th place in ranking as among the choice for senators in the coming May elections based on the latest survey conducted by StratPOLLS.

“Misis Hanep Buhay” attributed the surge in her rankings to the increased public awareness on her achievements as congresswoman for three terms or nine years, having served as chairperson of the House Committee on Higher and Technical poll/PAGE 7

PEUGEOT-CDO OPENS: Peugeot RCZ, the French award-winning sports car, is put on display at the showroom of the newly-opened Peugeot-Cagayan de Oro branch along Mastersons Avenue, Pueblo de Oro Business Park. Also available from Peugeot are the 3008 Crossover, the 5008 Compact MPV and the 508 Executive Sedan. photo by shaun alejandrae yap uy

Editorial and advertising email : businessweekmindanao@gmail.com • Cell Number : 0917-7121424 • 0947-8935776


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BusinessWeek Mindanao (March 1-2, 2013 Issue) by Mindanao Daily News - Issuu