Follow OroChamber Twitter account for more updated up to the minute info regarding our events, activities, advocacies, etc.
Many thanks and best regards,
Elmer B. Francisco
Past Trustee
Chairman, Communications Committee
Thursday, May 19, 2011
Scheduled Power Interruption on Sunday, May 22, 2011
CAGAYAN ELECTRIC POWER & LIGHT CO., INC
Important Notice to CEPALCO Customers
Subject: Scheduled Power Interruption on Sunday, May 22, 2011
The Cagayan Electric Power & Light Co., Inc. (CEPALCO) would like to inform all customers that power supply will be interrupted on MAY 22, 2011 as shown below:
| Reasons: | RELOCATION OF A 69KV STRUCTURE AT PUERTO THAT WILL BE AFFECTED BY THE CONSTRUCTION OF PUERTO – SAYRE FLYOVER. CEPALCO WILL ALSO CONDUCT LINE MAINTENANCE WORKS ALONG THE AFFECTED AREAS. TO REDUCE THE IMPACT OF THE SAID INTERRUPTION, MINERGY WILL BE SYNCHRONIZED TO THE GRID TO PROVIDE ADDITIONAL POWER SUPPLY.
|
| Date:
| Sunday, May 22, 2011 |
| A. Interruption Time: | 6:00 AM – 6:00 PM (12 hours)
|
| Affected Areas: | METERING 3 - NPC NATUMULAN (TAGOLOAN-CAGAYAN 69-KV CIRCUIT): 1. Del Monte Philippines, Inc., Bugo 2. Cagayan de Oro Oil Company, Tablon 3. Cagayan Corn Products, Tablon 4. Mitimco, Baloy 5. Gaisano City, Recto Ave. 6. Limketkai Mall, Lapasan 7. Limketkai Plant, Puntod 8. Nestle Philippines, Inc. Tablon 9. Alwana, Cugman 10. HCH Corporation, Tagoloan
TAGOLOAN FEEDER #1 (34.5-KV): 1. All the Barangays of Bugo, Puerto, Tin-ao, Agusan, Tablon, Baloy, Cugman, Gusa, and greater portion of Lapasan. 2. Portion of Lapasan-Camaman-an road from Recto Ave. towards Limketkai Commercial Center including Grand Caprice Restaurant. 3. All of Osmeña St. and portion of Cogon Market Area including Roxas St. towards portion of JR Borja St. 4. Upper Gusa, Indahag, Malasag, FS Catanico and Balubal. 5. Agora Market area including Gaabucayan St. 6. DMPI plantation, MENZI Agri, etc. 7. Portion of Natumulan from El Mundo up El Slvador including, FCPI Housing, Promiseland Cusher, Solid Built Crusher & UKC Crusher.
CHARLIE FEEDER #4: 1. Portions of Camaman-an near and including towards Manto to the San Jose and St. Vianney Seminaries, greater portion of Camaman-an proper towards Bontong, Bolonsori up to Upper Camaman-an and Hayes Subdivision including Tipolohon. 2. Part of Limketkai Center, Lapasan including Mc Donalds, PNB and Allied Bank. 3. Along Recto Ave. from corner Agora Road towards Maharlika Bridge including Coca-Cola Plant Portion of A.Luna St. towards all of Mabulay Subdivision including portion of the Provincial Capitol and Provincial Hospital Area. 4. Medical Center area along and bounded by Capistrano St., Echem St. up to corner Akut St., A.Velez St., and Recto Ave.(UCCP side), including all of Consolacion. 5. Corrales Ext. from Gaabucayan St. towards most of PPA area. 6. J.Pacana St. from Recto Avenue towards all of Macabalan area. 7. All of RER Subdivision Phases I & 2 including Dolores compound; towards Fortune Express Shop along Maharlika Highway; including all of NHA-KSS Subdivision and portion of Bayabas near Manila Broadcasting Radio Station to Capisnon area. 8. Greater part of Bulua from Bulua Rotonda towards all of Iponan. 9. Greater part of Patag including Calamansi Drive, Apovel subdivision, Terry Hills subdivision and Anhawon, Bulua area. 10. Along Osmeña Extension up to Gaabucayan St.
|
| B. Interruption Time: | 6:00 AM – 8:30 AM (2 hours and 30 minutes); Switching Works 4:00 PM – 6:00 PM (2 hours); Switching Works
|
| Affected Areas: | CHARLIE FEEDER #1: 1. Greater portion of the City Poblacion along and bounded by Hayes St., Mortola St., JR Borja St. including S.Daumar St. up to corner JR. Borja St., Aguinaldo St. up to corner Justo Ramonal St., 2. Along Pabayo St.; including portions of C. Pacana St., JR Borja St., Gomez St., C.Taal St., T.Neri St., Abejuela St., Hayes St. and Gaerlan St. from Pabayo St.. 3. Hayes St. from corner A.Velez St. towards City Hall area & Burgos St., along T.Chavez St. from Burgos St. up to Tiano Bros. St. - including portions of Tiano Bros. St., Rizal St., Capistrano St. from Hayes St.; and; Dolores St.. 4. Along Burgos St. from T.Chavez St. up to corner Gomez St. including portions of Abejuela St., T.Neri St., Cruz Taal St. and Gomez St. from Burgos St.. 5. Surroundings along Mabini St. from corner A.Velez St. towards Capistrano St. up to corner Gomez St. including portions of Tiano Bros. St. from Mabini St.; Yacapin St. from Capistrano St. towards Burgos St.; and; C.Pacana St., JR Borja St. and Gomez St. from Capistrano St. 6. Along Pabayo and T. Saco Streets from Dolores towards Clementino Chaves St. up to 15th-26th St., Nazareth. 7. Greater portion of Macasandig, all of Tibasak, all the way to Taguanao.
CHARLIE FEEDER #2: 1. Portions of T.Chavez St. from Corrales Ave. up to Tiano Bros. St. including portions of A.Velez St from Hayes St.. 2. Along Hayes St. from Camaman-an towards V.Roa St. up to corner J.Ramonal Ext., including Pinikitan, Adela, Balangiao area, Quirino St. and Yacapin Ext.; portions of Macasandig, XU Grade School areas. 3. Along J.Ramonal Ext. from Sto. Niño, Cogon towards V.Roa St., R.Chavez St. up to Corrales Ave. corner A.Luna St.; D. Velez St & Yacapin St., JR Borja Sts between V. Roa St. and Mortola St.(PNB/Everbest) towards Daumar Sts. To Yacapin Ext. up to Doña Nieves St. 4. Along Corrales Ave. towards FICCO, Nazareth, including Yacapin Street Towards Capistrano St., 5. Greater portion of Nazareth; greater portion of Ramonal Village. From Hayes-12th Sts up to T.Saco-14th Sts. ,T.Saco-6th Sts.,14th-21st Sts., and 15th-21st Sts.
CARMEN FEEDER #3: 1. Portions of Carmen: along vicinities of Villarin St. towards portion of Canitoan-Pagatpat Road; including St. Mary’s Academy (formerly Cathedral School of Technology), Golden Village, City Hospital-DOH Area, COWD reservoir and Seriña St. from Villarin St. down to Madonna and Child Hospital. 2. M.Suniel St. from Villarin St. down towards portion of Mabolo St.; including Matilde Neri St., Dabatian St. and Cagayan de Oro College area; and; portion of Lirio St. area. 3. Portions of Upper Carmen towards Dagong including SM CITY; PRYCE HOTEL; SPUM & SEARSOLIN.
PUEBLO FEEDER #2: 1. Portion of Upper Carmen, Upper Balulang and all of Brgy. Lumbia including; PNR Sawmill, Shop and transmitter; Pueblo de Oro, Camella Homes, Xavier Estates, Xavier Heights, Xavier High School, La Buena Vida, Frontiera and Montana subdivisions; CAA-BAT Lumbia Airport & Rio Verde.
TAGOLOAN FEEDER #1 (34.5-KV): 1. Portion of Natumulan down to Casinglot, Tagoloan.
|
| Power will however be restored immediately without further notice when line works are completed earlier than scheduled. |
We hope the affected customers and the public in general
will be guided by this announcement. Thank you.
| Released by: | Ms. Marilyn A. Chavez Senior Manager Customer & Community Relations Dept. |
Morning Brief: 19 May 2011
Competitiveness still low THE PHILIPPINES has slipped anew in terms of global competitiveness, with poor infrastructure and government inefficiency eclipsing gains made in economic performance and business competence. While the country improved its score -- by over six points to a total of 63.291 from 56.526 last year -- in the latest edition of the World Competitiveness Yearbook (WCY), it still fell to 41st out of 59 economies from 39th place last year as other economies posted stronger gains. The country was also ranked the least competitive in the Asia-Pacific region for the third straight year in the WCY, produced annually by the Switzerland-based Institute for Management Development (IMD) and released locally yesterday. The Philippines’ ranking has fluctuated in lower third of the list in the last five years. It was 45th in 2007, improving to 40th the year after and then sinking to 43rd in 2009. The latest result came as the country’s National Competitiveness Council (NCC) set a 2016 target of inclusion in the top 30 or 50 after missing a 2010 goal of a top third placing. The United States and Hong Kong jointly took first place in the latest rankings with a perfect score of 100. Last year’s topnotcher, Singapore, slipped to third with a score of 98.557. Taiwan, Australia, Malaysia, China, New Zealand, Korea, Japan, Thailand, India and Indonesia also ranked above the Philippines in the Asia-Pacific region. The WCY ranks economies from most to least competitive using four criteria: economic performance, government efficiency, business efficiency and infrastructure. The Philippines enjoyed a significant jump in its economic performance this year, going up five notches to 29th. This was propelled by the country’s 7.6% gross domestic growth last year and a strong rebound in exports. The country, however, still suffers from a lack of foreign direct investments. Business efficiency was also boosted this year through improvements in the productivity, efficiency and attitudes of the labor force. The Philippines climbed up one notch in the list to 31st. "The Philippine labor force is well-educated and speaks good English, which is good especially for business process outsourcing," IMD Deputy Director Suzanne Rosselet-McCauley said in a presentation. There was, however, a marked decline in government efficiency as the country sank to 37th from last year’s 31st. Fiscal policy, institutional framework, social framework and business legislation were listed as areas for improvement. Current regulations also make it difficult for business to compete domestically and internationally, Ms. McCauley said. "Business efficiency is outpacing government efficiency. The Philippines will be able to increase its competitiveness if it synchronizes both," she said. The country also dropped one notch to 57th in terms of infrastructure due to inadequate facilities, particularly for science and education. "There is a lack of emphasis in research and development. The government should also work for greater access to education and increase investments in energy and transportation infrastructure," Ms. McCauley noted. The public-private partnership (PPP) program could help bridge the infrastructure gap, Philippine Constructors Association, Inc. Executive Director Manolito P. Madrasto yesterday said. However, unclear PPP guidelines on risk-sharing and guarantees could turn away interested businesses, he warned. "We have a bad reputation of shirking on our contracts, so the government has to make an effort to make clear and certain rules regarding the PPP to assure investors," Mr. Madrasto said. The Aquino administration’s proposed K-12 education program could also improve the quality of education in the country, University of the Philippines economist Benjamin E. Diokno said in a press conference. "We will not see the effects overnight, but it is a good start," he said. The government should work on its deficiencies as soon as possible because last year’s growth and export rates are not sustainable, Mr. Diokno added, as these came from a low base. NCC co-chairman and private sector representative Guillermo M. Luz said the latest rankings were a "good wake-up call" for the Philippines. "We are moving with small steps in the beginning, but there will be bigger and faster steps in the future as we get more government agencies involved," he told BusinessWorld. -- DCJJ
"Once all our investments under the global investments program (GIP) are in the country, we plan to put... [these] in the stock market, bond market... real estate investment trusts, the government’s public-private partnership program and the central bank’s special deposit accounts," GSIS Robert G. Vergara told reporters. The state pension fund in 2008 opened the GIP, a facility intended to generate additional income to meet future claims and benefits. Of the total $1 billion allocated, some $600 million was invested in markets overseas via foreign fund managers such as Pimco. Mr. Vergara said the GSIS was repatriating its overseas investments because it failed to generate the 8% return set when the program was first implemented. "It is not clear now how investing abroad would give GSIS a good return... given all the inflation issues in China and India and the geopolitical problem in the Middle East and the debt crises in the US and the euro zone," he said. Some two-thirds of the $670 million has been returned to the country, Mr. Vergara said. |
U.S. Stocks Advance Amid Easy Fed Policy as Commodity Prices Move Higher U.S. stocks rose, snapping a three- day drop, as the Federal Reserve signaled continued low interest rates, commodities rebounded and earnings at companies including Dell Inc. (DELL) beat analyst estimates. Chevron Corp. (CVX) and Monsanto Co. (MON) advanced at least 2.4 percent as commodities climbed for the first time in three days amid signs of increasing demand. Dell, the world’s second- largest computer maker, jumped 5.4 percent as corporate spending helped the company withstand a slump in consumer demand. Teen retailer Abercrombie & Fitch Co. (ANF) increased 3.4 percent as earnings beat analysts’ projections. The Standard & Poor’s 500 Index rose 0.9 percent to 1,340.68 at 4 p.m. in New York, after losing 1.5 percent over the last three days. The Dow Jones Industrial Average added 80.60 points, or 0.7 percent, to 12,560.18. Stocks extended gains as records from the Fed’s April policy meeting said that talks about an exit strategy from record stimulus measures don’t mean monetary tightening “would necessarily begin soon.” “I see a lot of green on my screen,” said Timothy Ghriskey, chief investment officer at Solaris Asset Management in Bedford Hills, New York, which manages $2 billion. “We got Dell as a turnaround story. Commodities were looking for an opportunity to bounce and traders will take advantage of it. In addition, the Fed wants to encourage the movement of assets out of fixed income and into equities by keeping rates low.”
The difference between the yield on 10-year notes and inflation-indexed securities, a gauge of expectations for consumer prices over the life of the debt, widened after reaching the narrowest level in three months as stocks and commodities rallied. Minutes of the Fed’s meeting showed most policy makers favored an exit strategy of raising interest rates before selling assets. “There was consensus that selling the assets they have been purchasing is not necessarily the first step in the process of normalization, which gives the market some insight into how it will exit the easing,” said Jay Mueller, who manages about $3 billion of bonds at Wells Fargo & Co. in Milwaukee. Yields on 10-year notes increased six basis points, or 0.06 percentage point, to 3.18 percent at 5:14 p.m. in New York, according to Bloomberg Bond Trader prices. The 3.125 percent note due in May 2021 dropped 1/2, or $5 per $1,000 face amount, to 99 17/32. The yield fell earlier to 3.09 percent, the lowest level since Dec. 7. The 30-year bond slid more than one point, pushing the yield up to 4.29 percent after touching 4.20 percent, the lowest level since Dec. 1. The two-year note yield rose three basis points to 0.55 percent. |
Crude Trades Near One-Week High After Unexpected Dropp in U.S. Stockpiles Oil traded near the highest in more than a week in New York after a government report showed an unexpected drop in U.S. crude inventories on increased refinery operating rates and a decline in imports. Futures were little changed after climbing 3.3 percent yesterday. The Energy Department said stockpiles slipped 15,000 barrels last week to 370.3 million. Supplies were projected to rise 1.7 million barrels, according to analysts surveyed by Bloomberg News. Prices advanced 9 percent this year as unrest in the Middle East and North Africa toppled leaders in Tunisia and Egypt and spread to Libya. “There’s plenty of oil out there but continued unrest is going to keep prices around $100,” said Chip Hodge, who oversees a $9 billion natural-resource bond portfolio as senior managing director at Manulife Asset Management in Boston. “Libyan oil will remain off the market for the foreseeable future, and that’s just one trouble spot.” Crude for June delivery was at $99.83 a barrel, down 27 cents, in electronic trading on the New York Mercantile Exchange at 9:14 a.m. Sydney time. The contract yesterday advanced $3.19 to $100.10, the highest settlement since May 10. Prices are up 43 percent the past year. |
Sources: Bloomberg, Reuters, www.inquirer.net, www.philstar.com, www.bworldonline.com, www.cnnmoney.com
BDO UNIBANK INC.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
Rhys Cruz
Junior Researcher
(632) 858-3001
Philippine Markets: 18 May 2011
18 May 2011
USD/PhP: 43.23 - 0.055 PSEi: 4303.31 + 41.71
USD/JPY: 80.95 PFINC: 959.99 + 13.35
EUR/USD: 1.4261 BDO: 58.65 + 1.20
GBP/USD: 1.6230 BPI: 57.30 + 0.80
PDSTF3M: 2.3712 MBT: 70.25 + 1.10
Prices as of 4:00pm Source: Bloomberg, Reuters
Asian Stocks Rise on Merger Talk, Profits; Tokyo Electric Rises
By Shani Raja
May 18 (Bloomberg) -- Asian stocks rose, driving a regional
benchmark index higher for the first time in five days, amid
improved earnings and merger-and-acquisition speculation. Tokyo
Electric Power Co. gained after it presented a plan for
stabilizing a stricken nuclear-power plant.
Fairfax Media Ltd. surged 4.3 percent in Sydney after
reports Lachlan Murdoch, son of News Corp. Chief Rupert Murdoch,
is mulling a bid for its radio unit. Austar United
Communications Ltd. added 6.1 percent on speculation Foxtel is
in advanced talks over a potential takeover. Mizuho Financial
Group Inc. gained 3.2 percent in Tokyo after the Nikkei
newspaper said it plans to merge its retail and corporate banks.
Tokyo Electric rose 2.4 percent as it confirmed plans to cool
damaged reactors as early as October
“Increasing corporate activity reflects the fact that
companies’ balance sheets are well capitalized and funding has
become more freely available,” said Matt Riordan, who helps
manage close to $7 billion in Sydney at Paradice Investment
Management Pty. “Corporate activity is positive as it
underwrites the share prices of the potential targets.”
The MSCI Asia Pacific Index advanced 1.1 percent to 135.34
as of 3:20 p.m. in Tokyo. About seven stocks rose for each three
that declined on the gauge, which last week recorded its second
straight weekly drop amid concern China’s anti-inflation
policies may slow global economic growth.
Japan’s Nikkei 225 Stock Average gained 1 percent and South
Korea’s Kospi Index climbed 1.6 percent. Hong Kong’s Hang Seng
Index advanced 0.6 percent.
Bank Downgrade
Australia’s S&P/ASX 200 Index rose 0.2 percent, paring a
gain of as much as 0.5 percent earlier after Moody’s Investors
Service downgraded the long-term, senior unsecured debt ratings
of the country’s four major banks.
Futures on the Standard & Poor’s 500 Index increased 0.4
percent today. In New York, the index declined less than 0.1
percent yesterday as a reduced sales forecast at Hewlett-Packard
Co. and an unexpected decline in housing starts damped optimism
about the economic recovery.
Work began on 523,000 houses in April, down 11 percent from
the prior month and less than the 569,000 median forecast of
economists surveyed by Bloomberg News, figures from the Commerce
Department showed yesterday in Washington. Building permits, a
sign of future construction, also decreased.
Murdoch, Fairfax
Fairfax advanced 4.3 percent to A$1.085 in Sydney. Lachlan
Murdoch’s investment group Illyria Pty. is among companies in
talks over the sale of Fairfax’s A$300 million radio unit, the
Financial Review reported today, without citing anyone.
Austar United rose 6.1 percent to A$1.30. Foxtel and
Liberty Global Inc., the U.S. company that is Austar’s largest
shareholder, are in advanced talks over a potential A$2 billion
($2.1 billion) takeover bid by the Australian subscription
television operator for rival Austar, the Australian reported.
The newspaper cited unidentified sources it said are close
to the negotiations, and Austar later said talks were “ongoing
and exploratory in nature” with no assurance of a formal
proposal.
In Tokyo, Mizuho Financial climbed 3.2 percent to 131 yen
after the Nikkei newspaper said the bank will appoint Yasuhiro
Sato, who heads Mizuho Corporate Bank Ltd., as president to
replace Takashi Tsukamoto, and that it aims to merge its
corporate and retail banking units by 2013. Mizuho later said it
wasn’t considering the banking unit merger.
Nuclear Cooling Plan
Fortescue Metals Group Ltd., Australia’s third-largest
iron-ore exporter, climbed 2.9 percent to A$6.39 in Sydney after
hiring five banks to help obtain $1.5 billion of loans,
according to a person familiar with the matter, who asked not to
be named as the details haven’t been made public.
Fortescue will use part of the funding to help pay for the
$8.4 billion expansion of its Pilbara iron-ore operations,
according to a filing yesterday to the Australian stock exchange.
Tokyo Electric Power gained 2.4 percent to 389 yen. The
company expects to cool reactors at its stricken Fukushima Dai-
Ichi plant by as early as October, maintaining its earlier
timetable in an updated plan to resolve the worst nuclear crisis
in 25 years.
One month after releasing its so-called road map to
stabilize the Fukushima plant, the company known as Tepco
outlined more detailed steps at achieving a cold shutdown, where
the core temperature in the three damaged reactors falls to
below 100 degrees Celsius (212 degrees Fahrenheit).
The MSCI Asia Pacific Index lost 2.8 percent this year
through yesterday, compared with gains of 5.7 percent by the S&P
500 and 0.5 percent by the Stoxx Europe 600 Index. Stocks in the
Asian benchmark are valued at 13.3 times estimated earnings on
average, compared with 13.4 times for the S&P 500 and 11.1 times
for the Stoxx 600.
Earnings Reports
In Hong Kong, SJM Holdings Ltd., the world’s biggest listed
casino operator by revenue, surged 7.4 percent to HK$17.98 after
reporting 85 percent higher profit. First-quarter net income
jumped to HK$1.41 billion ($181 million), the company said, as
gambling revenue grew 43 percent to HK$18.14 billion.
Esso Malaysia Bhd., a unit of Exxon Mobil Corp., surged 4.3
percent in Kuala Lumpur after saying first-quarter profit more
than doubled from a year earlier.
Companies on the MSCI Asia Pacific Index that have reported
earnings for the most recent quarter have posted an average 8.5
percent increase in net income, with about the same number of
companies exceeding analyst estimates as failing to meet them.
For the MSCI Asia Pacific excluding Japan Index the figure is an
average 25 percent increase, reflecting the impact of Japan’s
March 11 earthquake.
Oil Companies
Oil producers also climbed after futures rose as much as
1.1 percent from a three-month low today in New York.
Cnooc Ltd., China’s biggest offshore oil producer, gained
2.2 percent to HK$18.04 in Hong Kong, while PetroChina Co.
climbed 1.7 percent to HK$10.66.
In Sydney, Australia bank shares reversed gains after
Moody’s downgraded to Aa2 from Aa1 the long-term, senior
unsecured debt ratings of Australia and New Zealand Banking
Corp., Commonwealth Bank of Australia, National Australia Bank
Ltd. and Westpac Banking Corp. Shares of all four banks reversed
gains.
BDO UNIBANK, INC.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
Rhys Cruz
Junior Researcher
(632) 858-3001
Subscribe to:
Posts (Atom)
