KKI cites “Critical Collaboration” with Cepalco in bringing down power rates

CAGAYAN DE ORO CITY – The consumer group which successfully intervened with the local power utility’s application for rate adjustment with the Energy Regulatory Commission has cited the unprecedented level of cooperation with the government agency and the utility which resulted in lower power rates for consumers in the franchise area for the next four years.

“Our group wishes to commend the Cagayan Electric Power and Light Company (CEPALCO) and the Energy Regulatory Commission (ERC) for being patient with us and walking us through the Performance Based Regulation process of rate setting which resulted in an outcome to the satisfaction of all parties,” said Rene Michael D. Baños, president of Konsumanteng Kagay-anon, Inc., a locally based consumer advocacy group which led the civil society intervention in the utility’s application with the ERC for a rate adjustment under the Third Regulatory Period.

Under the final rates translation filed by CEPALCO with the ERC, electricity rates for all types of customer categories were reduced starting July 2011 with residential customers getting the biggest reduction at 17 centavos per kilowatt hours, followed by commercial (.13), streetlight (.05), 138kV bulk power (.04), industrial (.03), and 69kV bulk power (.01).

“To put this reduction in its proper context, consider how power consumers in other franchise areas under private utilities all had rate increases for their next regulatory period under PBR such as Meralco (Metro Manila), Davao Light and Power Co. (Davao City) and Visayan Electric Power Co. (VECO) in Cebu,” Mr. Baños said.

KKI’s satisfaction with the ERC decision and the outcome of the year long process of evaluating CEPALCO’s application was shared by the local utility.

“We would like to emphasize that the resulting reduction in CEPALCO’s Maximum Average Price (MAP), and the consequent reduction in customers’ electric bills, were expected results based on the normal regulatory process as provided in the Rules in Setting Distribution Wheeling Rates (RDWR),” Mrs. Consuelo G. Tion, CEPALCO President and Chief Operating Officer said in a letter addressed to KKI. “In fact, you will recall that this expected rate reduction was announced by one of our witnesses during the evidentiary hearings of this case at SEARSOLIN.”  

Mrs. Tion also said that one the positive attributes of PBR is it drives Distribution Utilities like CEPALCO to perform better.

“As envisioned in the PBR, better performance translates to lower cost. This is what exactly happened to CEPALCO. The company’s actual performance for the past Regulatory Years showed a certain level of improvement that will now allow the company to provide better electricity distribution service to its customers at a lower cost,” she added. “In short, CEPALCO’s customers are now reaping the benefits of the PBR as envisioned by the ERC.”

Mrs. Tion also cited the importance of KKI’s participation in the PBR rate setting process which increased consumers’ knowledge about PBR and the rate setting process.

“We would like to commend the Konsumanteng Kagay-anon, Inc. for its active participation in the said regulatory process,” Mrs. Tion wrote in her letter to KKI.  “Such active participation resulted to better understanding and appreciation of the rate making process which is one of the most complex processes in an electric distribution utility business.”

For its part, KKI acknowledged CEPALCO’s openness and readiness to accommodate the consumer group’s request while it went into a “learning curve” to know more about PBR and make its intervention with ERC on the case more substantial and relevant.

“I am happy there wasn’t an adversarial mind set between KKI and CEPALCO during the PBR process which I attribute to the ‘critical collaboration’ between the two parties to arrive at the best rates and programs which could best serve electricity consumers in the franchise area,” Mr. Baños said. “I believe we have set a precedent in putting our heads together to arrive at this mutually acceptable and satisfactory outcome for the next regulatory period. Hopefully, other intervenors and DUs can similarly benefit from our experience.” 

KKI also cited the key role played by its legal counsel Atty. Edison John A. Arriola, A.D. of Cebu City who conducted several briefings for the Ad Hoc Committee organized by KKI in cooperation with the City Council Committee on Energy chaired by Kag. President Elipe. Atty. Arriola was referred by the National Association of  Electricity Consumers for Reform (NASECORE) through its president Mr. Pete L. Ilagan.

KKI also hailed its following supporters and cooperators for their support in making the services of Atty. Arriola possible: Misamis Oriental Filipino-Chinese Chamber of Commerce and Industry, Inc. (MOFCCCII) through its president Mr. Roberto Ching; Rep. Jose Benjamin Benaldo (1^st District, CDO); Rep. Rufus B. Rodriguez (2^nd District, CDO); Rep. Maximo B. Rodriguez, Jr. (ABAMIN Party List), Cagayan de Oro Filipino Chinese Chamber of Commerce and Industry Inc. (CDOFCCCII) though Pres. Quinciano Lui and VP Henry Dy; Philippine Chinese Chamber of Commerce and Industry (PCCCI) through Pres. Ricky Go; Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) through Pres. Antonio Uy;  Cagayan de Oro Chamber of Industries (COCI) through Pres. Jerome R. Soldevilla; Phividec Industrial Estate-Misamis Oriental Industries Association through Pres./Engr. Augustus M. Adis, Rep. Yevgeny Vicente Emano (2^nd District, Misamis Oriental); the Cagayan de Oro Hotel and Restaurant Association (COHARA) through Pres. Nelia B. Lee; and the  Cagayan de Oro Travel and Tours Association through Pres. Rex J. Tapungot.

The following institutions and persons were also instrumental in assisting the Ad-Hoc Committee render technical, legal and financial opinions on the documents submitted by CEPALCO: Institute of Integrated Electrical Engineers of the Phils, Inc. (IIEE) Cagayan de Oro City Chapter through Engr. Madeleine Waga; Cagayan de Oro ICT Council through Ms. Stephanie P. Caragos and Mr. Agustin Rodano; the City Accounting Office through City Accountant Theresa Wilma Rugay; City Administrator’s Office through City Administrator Griscelda Joson; City Legal Office through City Legal Officer Maya Enteria and Atty. Reymond Villablanca; and City Planning and Development Office through CPDO Estrella Sagaral and Isidro Borja. and NASECORE Cagayan de Oro through Mr. Ramid P. Gualberto. (KKI Press Release)

Cagayan de Oro needs traffic engineer | Sun.Star

Cagayan de Oro needs traffic engineer | Sun.Star

ECONOMIC BRIEFING Invite

Dear Members,

 

BDO and the Money Market Association of the
Philippines (MART), an association of professional Money Market
Traders from the Head Office Treasury Departments of the most respected
unibanks, foreign banks, commercial, savings, development banks and
investment houses in the Philippines through your

Chamber -- the OROCHAMBER, are pleased to invite you to an

ECONOMIC BRIEFING on Nov. 10, 3:30 to 6:00 p.m. at the Mallberry Hotel. 

 

Mr. Jonathan Ravelas/BDO Chief Strategist and First Vice President-Treasury
Department will be the resource speaker.   He is a favorite interviewee among
business reporters, for both TV and the print media, for his fearless
views, witty remarks and contagious humor.

 

See you all by then!

 

SGD.

ANTONIO D. UY

President, OROCHAMBER

Philippine Markets: 25 October 2011

25 October 2011

USD/PhP:  43.137 - 0.130      PSEi:       4242.52 +  41.44

USD/JPY:   76.12        PFINC:           941.46  +   9.47

EUR/USD: 1.3933         BDO:        53.35   +    0.50

GBP/USD: 1.6008         BPI:        57.10   +    1.10

PDSTF3M: 1.6169         MBT:          68.00   +       0.60

Prices as of  4:00pm                Source: Bloomberg, Reuters

Philippine stocks rise on optimism over Europe debt plan

(philstar.com) Updated October 25, 2011

MANILA (Xinhua) -- The Philippine stock market continued to rally for the

second time on Tuesday as investors remain positive that Europe is close to

finding a solution to its debt crisis.

The bellwether Philippine Stock Exchange index gained 0.98 percent or 41.44

points to 4,242.52. The broader all-share index was up by 0.51 percent or

15.31 points to 2,965.49.

Trading volume reached 4.8 billion shares worth 18.73 billion pesos (434.06

million U.S. dollars) with 93 stocks advancing, 54 declining, and 29

unchanged.

All six counters closed higher, led by the mining and oil sector which

rallied by 1.3 percent.

"All major equities markets were significantly higher (and) that may be

signaling that investors have calmed down with regards to worries of an

endemic financial meltdown in the Euro region," brokerage DBP-Daiwa

Securities, Inc. said.

Investors all over the world seem to be riding the positive mood stemming

out of a possible resolution of the Eurozone debt crisis.

Dow Jones industrial average index was up by 0.89 percent or 104 points.

Asian stocks were mostly trading in the green Tuesday.

Analyst Justino Calaycay of Accord Capital Equities Corp. said the way the

Philippine stock market has moved throughout Tuesday reflects investors'

confidence that Europe's leader will announce good news when they meet on

Wednesday afternoon.

"We do not expect a perfect solution that everyone will agree to, but by

and large, we are confident that what will come out will be reasonable and

acceptable enough to ease recession concerns," Calaycay said.

The analysts said another factor boosting the local stock market is the

upcoming release of third quarter corporate earnings.

"Bargain hunting could be another theme in the local market as investors

position ahead of the release of corporate earnings starting next week,"

DBP-Daiwa Securities, Inc. said.

Calaycay however added that while the Philippine shares will get an added

push from the corporate earnings, everything still hinges on Europe.

The analyst said a positive result from the region will draw investors to

bet on earnings more aggressively, while the opposite will push the markets

to opt for cash.

Stocks in the 30-company index closed higher. Among the most actively

traded issues were heavyweight Philippine Long Distance Telephone Co.,

Banco de Oro Unibank, Inc., and Ayala Land, Inc.

Philippines Posts Budget Deficit as Revenue Growth Slows

By Karl Lester M. Yap and Max Estayo

    Oct. 25 (Bloomberg) -- The Philippines posted a budget deficit in

September after a surplus in the previous month, as slowing revenue growth

offset a decline in government spending.

    The shortfall was 18.5 billion pesos ($428 million), compared with a

9.2 billion-peso surplus reported earlier for August, according to an

e-mailed government statement in Manila today. The nine-month gap was 52.99

billion pesos against a targeted 234.35 billion pesos, and compares with

259.79 billion pesos a year earlier.

    President Benigno Aquino unveiled a 72 billion-peso stimulus package

this month as a faltering global recovery prompted the Philippine

government to cut growth forecasts for this year and next. Asian nations

have shifted their focus to protecting their economies as a potential Greek

default and unemployment above 9 percent in the U.S. threaten to push the

world into another recession.

    “The government must speed up spending at a time when global

uncertainties threaten to hurt domestic growth,” Jonathan Ravelas, chief

market strategist at Banco de Oro Unibank Inc., the Philippines’ largest

lender, said before the report.

    The peso rose for a second day to 43.15 per dollar today, according to

Tullett Prebon Plc. The yield on benchmark five-year bonds due September

2016 fell 3 basis points to 4.8 percent, according to Tradition Financial

Services.

    The government narrowed its forecast for the budget deficit on Oct.

12, predicting the shortfall this year may be 2.6 percent of gross domestic

product, or about 260.6 billion pesos, from a previous estimate of 3

percent or about 300 billion pesos.

    From a year earlier, revenue in September climbed 13.5 percent, while

spending slid 0.6 percent.

BDO UNIBANK, INC.

Jonathan Ravelas

Chief Market Strategist

(632) 858-3145

Anton Lina

Junior Researcher

(632) 858-3001

Philippine Markets: 24 October 2011

24 October 2011

USD/PhP:  43.268 - 0.175      PSEi:       4201.08 +  34.48

USD/JPY:   76.16        PFINC:           931.99  +   3.77

EUR/USD: 1.3860         BDO:        52.85   +    1.05

GBP/USD: 1.5934         BPI:        56.00   -     0.05

PDSTF3M: 1.6808         MBT:          67.40       (no change)

Prices as of  4:00pm                Source: Bloomberg, Reuters

Philippine Stocks: AgriNurture, ATR KimEng, DFNN, Metro Pacific

By Ian C. Sayson

    Oct. 24 (Bloomberg) -- Shares of the following had unusual moves in

Philippine trading. Stock symbols are in parentheses

and prices are as of the close in Manila.

    The Philippine Stock Exchange Index increased 0.8 percent to 4,201.08,

the first gain in three days.

    AgriNurture Inc. (ANI PM), a fruit and vegetable grower, increased 2.8

percent to 10.02 pesos, the sharpest gain since

Oct. 6. The company is planning three or four more acquisitions this year

to double sales, BusinessWorld reported, citing

Antonio Tiu, AgriNurture’s president. Tiu couldn’t be reached at his office

for comment.

    ATR KimEng Financial Corp. (ATRK PM) climbed 1.4 percent to 4.40

pesos, the highest close since Aug. 12, after saying Kim Eng Holdings Ltd.

will offer to buy the shares that it doesn’t own in the company.

    DFNN Inc. (DFNN PM), a provider of Internet-based stock market

investing services, decreased 5.7 percent to 6.65 pesos,

the sharpest loss since Sept. 26. The company said it’s in talks with

shareholder MAA International Assurance Ltd., which plans

to boost its stake in DFNN to close to 10 percent.

    MAA, which owns 571,000 shares of the company, isinterested in buying

additional primary shares through a so-called private placement, a

stock-exchange filing showed.

    Metro Pacific Investments Corp. (MPI PM), a unit of Hong Kong’s First

Pacific Co., advanced 1.7 percent to 3.05 pesos,

snapping four days of losses. Metro Pacific said it agreed to buy the

company that operates the Cardinal Santos Medical Center for 300 million

pesos ($6.9 million).

BDO UNIBANK, INC.

Jonathan Ravelas

Chief Market Strategist

(632) 858-3145

Anton Lina

Junior Researcher

(632) 858-3001

Flair bartending showdown at SM | Sun.Star

Flair bartending showdown at SM | Sun.Star

Philippine dairy herd hits high milk yield mark

by Jorie C. Valcorza

CAGAYAN DE ORO CITY, Misamis Oriental, October 22 (PIA) -- The Philippine milk herd productivity performance hits an annual average yield of one ton per animal for the last five years, comparable to the world’s market productivity parameter.

Rene Martin De Guzman, manager of the Planning and Management Services Department of the National Dairy Authority (NDA) announced this during a Dairy Forum held at SM City, a side event of the Brunie-Indonesia-Malaysia-Philippine East ASEAN Growth Area (BIMP-EAGA) Trade Fair cum Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) Business Enterprise Services and Trade (OROBEST) exposition.

Although the country lags in terms of total milk production and number of milking cows than to its ASIAN counterparts it still continues to gain good marks in the area of productivity, from top 30 in 2008, it pushes on to top 20 in 2009.

“Hindi sinasabi na kesyo maraming animals, mataas din ang produksyon, kung pagalingan sa bakang hinawakan hindi tayo pahuhuli (Not because there are a lot of animals,the production is also high. If we are going to look on how good the cows, the country can compete),” De Guzman said.

Given such edge, local farmers were encouraged to follow the required handling of these animals in order maximize its milk produce.

In the Philippines, milk was listed among top five agricultural imports next to rice and wheat.

De Guzman noted that out of the 468 million liters of milk consumed only 14 million were locally produced or only one out of every four glasses is supplied locally.

To reverse the current dairy trend in the country and maximize its potential, the NDA crafted a dairy roadmap for the next five years that targets to double up local milk production and contribution, as well as triple the daily milk yield by strengthening its asset build up and public-private partnership, increasing the number farm families and setting up of a dairy cow financing facility.

In Northern Mindanao, the current farm gate price of raw milk reaches to P22 per liter, a little lower that Luzon’s P25 while Visayas pegs at P18.

De Guzman emphasized that despite the current dairy statistics, farmers in Mindanao and Visayas still earns a minimum of Php 500.00 to Php 600.00 per day, while the Luzon dairy farmers get a higher daily perk.

He said the figures were not at all bad.

De Guzman likewise encouraged dairy farmers present in the forum to interest and train more young people on dairy farming to ensure increase and sustained supply of locally produce milk over the years. (PIA 10)

OROBEST 2011 Expo boost trade and linkages of NorMin

by Apipa Bagumbaran

CAGAYAN DE ORO CITY, Misamis Oriental, October 21 (PIA) --- The chairperson of the Mindanao Development Authority (MinDA) commended the organizers of the Oro Business Enterprise Services and Trade (OROBEST) 2011 Expo citing their initiative as a good way to promote trade and boost linkages.

Luwalhati R. Antonino, who was the keynote speaker during the opening ceremony of the OROBEST 2011 Expo, said the trade fair is a strategic venue to enhance trade links and promote Small and Medium Enterprises (SMEs) products and services.

She said the trade fair also help local producers acquire skills necessary for production and management of business, as well as, assist them in the expansion of their market reach.

Organized by the Oro Chamber of Commerce and Industry Foundation, Inc. (OroChamber), the OROBEST Expo showcases the best agricultural and tourism products and services in Northern Mindanao.

The four-day trade fair, which is one of the side events of the Brunei Darussalam, Indonesia, Malaysia, Philippines East ASEAN Growth Area (BIMP-EAGA) Senior Officials and Ministerial Meeting (SOMM), also features product sampling, investment matching, and livelihood learning session.

Antonino said the BIMP-EAGA has adopted agreements that facilitate faster movement of goods, people and services through transport links and harmonized customs processes.

Given the more favorable business climate, local producers are now gaining confidence to invest and build networks with other producers and the international market prompting us to accelerate development at a level that support trade with an enabling mechanisms necessary for sustaining growth and expansion, she further said.

With the increase trade and communication activities that go beyond borders, there is a greater opportunity for SMEs to talk a wider range of investment and contribute to the dynamism of our local economy, she added. (PIA-10)

NDA holds dairy forum in Northern Mindanao

by Apipa Bagumbaran

CAGAYAN DE ORO CITY, Misamis Oriental, Oct. 21 (PIA) –- The National Dairy Authority (NDA), in Northern Mindanao, in partnership with the Cagayan de Oro Chamber of Commerce and Industries, Inc. (OroChamber), the Land O’ Lakes Foundation Phil., Inc., and the Northern Mindanao Federation of Dairy Cooperatives (NMFDC), conducted a Northern Mindanao Dairy Forum at the SM City Rotunda, here.

James B. So, officer-in-charge of NDA-10, said the dairy forum was aimed at promoting the development of the dairy industry in the country.

He said the country’s dairy situation, including the industry’s concerns and opportunities, as well as the Philippine Dairy Roadmap were discussed by the dairy stakeholders in the region during the forum.

Also, a livelihood learning session on milk products processing techniques for targeted women in the city was also held after the dairy forum.

Both the dairy forum and the livelihood session are components of the Information Campaign and Education (ICE) on the Importance of Milk Project which is aimed at addressing the problems of marketing of dairy products, low milk production, consumption, malnutrition and the low awareness and appreciation of the importance of milk in creating a healthy population.

The forum was conducted as one of the highlights of the Brunei-Indonesia-Malaysia-Philippines, East ASEAN Growth Area (BIMP-EAGA) Trade Fair cum OROBEST 2011 Exposition. (PIA-10)

“City of Friendship” showcases top products at Oro Best Expo 2011

CAGAYAN DE ORO CITY, Misamis Oriental, October 21--Leading food and agri-industrial products from Cagayan de Oro and northern Mindanao areas take center stage as the 5th Oro Best Expo opens here at SM Mall Atrium Wednesday with international dignitaries among the pack of expo visitors.

Officials and delegates from the Brunei Darussalam, Indonesia, Malaysia and the Philippines - East ASEAN Growth Area (BIMP-EAGA) took a noontime break at the start of their 3-day high-level meet to grace the opening of this year’s Oro Best Expo.

Mindanao Development Authority (MinDA) Chair Luwalhati Antonino led BIMP-EAGA officials at the 5th Oro Best Expo opening and cited the potential revenues and investment opportunities that could be generated from the event.

Antonino said it is “both timely and strategic” that the expo is held in conjunction with the BIMP-EAGA 20th Senior Officials and 16th Ministerial Meeting, which had drew in over 200 delegates from within the four-country sub-regional grouping.

“To date, the BIMP-EAGA side events such as the trade fairs have become strategic venues to enhance trade links, promote small and medium enterprises products and services and assist local producers in the expansion of market reach,” added Antonino, who is also the Philippines Signing Minister for the BIMP-EAGA.

After the opening program, the BIMP-EAGA delegates were toured around the various Expo booths that featured the local products of Northern Mindanao that include Coco sugar, stoneware products, abaca cloth from Bukidnon, seaweed snacks, herb products, dried and processed fruits, purees and jams.

Apart from the booth exhibits, this year’s Oro Best Expo also slated a Dairy Forum that features information on market value of dairy products, training demonstration on milk processing, and product marketing. The forum is part of a livelihood program series lodged under the Cagayan de Oro Chamber of Commerce and Industry (Oro Chamber) as a program known as the “Ice on Milk” project.

Antonio further stressed that with the current trends on food, lifestyle products, and services directed towards health-related consciousness, many micro and small enterprises are given the opportunity to re-align their marketing reach towards the mainstream.

She added that “with the increased trade and communication activities that go beyond borders, there is greater opportunity for SMEs to tap a wider range of investments and contribute to the dynamism of Mindanao’s local economy.”

She also cited the role of BIMP-EAGA in increasing investments with the adoption of agreements that facilitate easier movement of goods, people and services through transport links and harmonized rules, regulations and procedures in customs, immigration, quarantine and security or CIQS.

The Oro Best Expo is jointly organized by the Oro Chamber and Promote CDO Foundation. The Expo runs until October 22 (Saturday). (MinDA)

CDO showcases Oro’s best to BIMP EAGA senior officials, delegates

by Jorie C. Valcorza

CAGAYAN DE ORO CITY, Misamis Oriental, October 20 (PIA) -- The Brunei-Indonesia-Malaysia-Philippine East ASEAN Growth Area (BIMP-EAGA) Senior Officials and delegates, graced Wednesday (Oct. 19) the opening of the Oro Best Expo 2011 at SM City.

Oro Best Expo was first conceptualized in 2007 by the Cagayan de Oro Chamber of Commerce and Industry to strengthen the bond among its members. Since then, it continues to draw big number of visitors every year to showcase the opportunities, competitive products, projects, places, service package and skills of the people in the city and in the rest of the region.

It highlights best practices of business leaders and provides venue of meeting new business partners.

Mindanao Development Authority (Minda) Chairperson Luwalhati R. Antonino commends organizers for the strategic conjunction of Oro Best with the BIMP-EAGA trade fair, noting that the event allows both investors and market to see trade innovations that can possibly generate revenues and long term partnership.

She said the initiative helps promote trade and boost linkages as BIMP-EAGA delegates exert efforts to accelerate the utilization of its sub regional cooperation.

Antonino explained that the role of the BIMP is to increase investments by substantial adoption of agreement which facilitate faster movements of goods, people and services through transport links and harmonized rules, regulations and procedures in customs, immigration, quarantine and security.

Department of Tourism (DOT) regional director for Northern Mindanao and sub national coordinator of the BIMP EAGA Joint Tourism Development, Catalino E. Chan III, expressed his continued commitment to BIMP.

“We were the first to produce posters, brochures’ and flyers, that is why, there is no room and reason that we will not pledge our support now, not only for region 10, but for the whole Mindanao,” Chan said.

“As president of Mindanao regional directors of the DOT, I say, we will be coming up with brochure not only for Mindanao, but for BIMP. We are proud to pledge not only our support, but our whole hearted support, not only for Mindanao but for BIMP, because we believe that BIMP EAGA is the real equator Asia in the world,” he added.

Chan was among the executives who meet the senior officials and delegates during the ceremonial ribbon cutting to open Oro Best Expo.

Other local officials present in the opening were director Linda O. Boniao of the Department of Trade and Industry (DTI); OroChamber President, Antonio D. Uy; OROBEST Expo 2011 Chairman Jeffrey T. Ang; Rodolfo L. Menes, past president of OroChamber; Jaime Rafael U. Paguio immediate past president of OroChamber and Promote CDO Foundation President, Ruben Vegafria. 

OROBEST 2011 showcases the best tourism, agri-trade in Northern Mindanao

by Apipa Bagumbaran

CAGAYAN DE ORO CITY, Misamis Oriental, October 20 (PIA) --- The best agricultural, food and tourism businesses in the Northern Mindanao, including those trade covered by the Brunei Darussalam, Indonesia, Malaysia, Philippines East ASEAN Growth Area (BIMP-EAGA) are showcased in the Oro Business Enterprise Services and Trade (OROBEST) Exposition 2011.

Staged by the Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (OroChamber), the Expo which is held simultaneously with the BIMP-EAGA Senior Officials and Ministerial Meeting (SOMM) will run from October 19-22, 2011 at the Atrium of SM City, here.

Oro Chamber President Antonio D. Uy said they have been staging the OROBEST Expo to promote trade and commerce in Northern Mindanao considering its vast array of competitive products, abundant natural resources and flourishing tourism which are suitable for promotion and joint ventures with local, national and international entrepreneurs.

OROBEST was conceptualized in 2007 to showcase the opportunities and competitive products, place, service package and skills of people of the region.

Now on its 5th year, the OROBEST has become a venue for businesses to showcase their products and services, and even do business matching, he further said.

Meanwhile, Jeffrey T. Ang, OROBEST Expo 2011 chairperson, said the trade exhibit will not only champion the best products, services and places in the region but it will also highlight the best practices of business leaders to provide information on how to start-up and strengthen business ventures.

The Expo also provides an avenue to strengthen the bond among its members and give value to their membership, he added.

As a side event of the BIMP-EAGA Investment Conference (iCon) and highlight of the city’s Business Month celebration, the opening of the four-day trade fair was graced by the senior officials of the BIMP-EAGA sub-regional cooperation and Mindanao Development Authority (MinDA) chairperson Luwalhati R. Antonino.

Apart from the booth displays, the trade fair will also feature the Northern Mindanao Dairy Forum where the development of the dairy industry in the region will be discussed by dairy stakeholders, as well as, product sampling, investment matching, and different livelihood learning sessions.

Recto-Velez flyover opens

THE P107-million Recto-Velez flyover was opened Monday, which, according to the Roads and Traffic Administration (RTA), is expected to lessen about 70 to 80 percent of traffic flow in the area.

Engineer Nonito Oclarit of RTA said during the inauguration that they made some sequence adjustments with the Recto-Velez traffic lights, giving priority to vehicles passing the flyover so it can directly pass across Recto-Corrales traffic light.

Oclarit announced that motorcycles, motorelas, bicycles, carts, pedestrians and trailer trucks carrying heavy loads and equipment are not allowed to pass the flyover, as specified in Executive Order 081 issued by Mayor Vicente Emano.

CAGAYAN DE ORO. City Mayor Vicente Emano (right) and his daughter, 

Councilor Nadia Elipe, lead the opening of the Velez-CMRecto flyover to 

the public Monday morning. (Joey P. Nacalaban)

He said those allowed to pass are light type of vehicles, cargo trucks, public utility jeepneys (PUJs) and trailer trucks that are not heavily loaded.

“We still have to make some observation and assessment of the traffic flow at the flyover. This is not final yet. There will be some adjustments to make,” Oclarit said.

Emano said after the opening of the Recto-Velez Flyover, next to open would be the Macanhan Flyover within a week or two.

Meanwhile, the mayor said during the inauguration that the City Government is planning to construct an underpass somewhere in Barangays Kauswagan and Lapasan.

He, however, emphasized that public consultation will be conducted first to get the pulse of the public regarding the proposed project. (Annabelle L. Ricalde)

Published in the Sun.Star Cagayan de Oro newspaper on October 18, 2011.