Monthly Archives: May 2011

Sale of Mindanao’s sea ports planned

BusinessWorld Online
May 23, 2011

ZAMBOANGA CITY — The Philippine Ports Authority said in a statement on Monday that it plans to sell the operation and maintenance contracts of four Mindanao sea ports by 2012.

These are Davao for 2011, and Cagayan de Oro, General Santos and Zamboanga next year.

Three local govts prepare for land use, environmental impact of Misor airport

BusineesWeek Mindanao
May 18, 2011

AS the completion of the Laguindingan Airport nears, the three contiguous municipalities Gitagum, Laguindingan, and Alubijid turn their attention on land use and environmental impacts of the project and related developments when the project will be in full operation.

In a subcommittee (of the special RDC-10 committee on LADP) meeting held May 11, chaired by Laguindingan Mayor Oliver Ubaub, officials and staff of the three municipalities discussed the need for a sanitary landfill for their common use, among other projects for priority implementation.

An initial meeting of the municipal engineers together with EMB, MGB, DENR, DOTC, Ayala Land Inc., and HANJIN was scheduled for May 25.

It was learned that the EMB had already identified a site in Talao, Gitagum to be the most appropriate for a sanitary landfill for this cluster of municipalities.

Negotiations with the landowners are ongoing.

Other programs to be given priority attention are watershed management to sustain adequate water supply, integrated coastal resource management to prevent destruction of marine resources, riverbank protection to preserve saltbeds and fishponds downstream, food security, quarantine services, and urban greening.

The body recognized the need for complementation and harmonization of sector and Comprehensive Land Use Plans of the three municipalities.

The Regional Development Council has created a special committee on LADP, chaired by Governor Oscar Moreno of Misamis Oriental, specifically to ensure the smooth operation of the Laguindingan international standard airport once this is completed in early 2012.
Other subcommittees are looking into the infrastructure (internal and external) and investment and promotions requirements of the project.

Turks, Koreans eye Iligan power plant

BusinessWorld Online
May 18, 2011

CAGAYAN DE ORO CITY — Turkish and Korean investors have expressed interest in acquiring the 114-megawatt Iligan Diesel Power Plant 1 & 2 in Dalipuga, Iligan City. Some members of the 30-man Turkish mission that visited this city last week expressed interest in the plant now owned by the city government of Iligan.

The 7.9-hectare power complex was acquired by Iligan City under a compromise agreement with the Power Sector Assets and Liabilities Management Corp. following its failure to settle real estate taxes with the local government.

Earlier, the Energy Developer Co. Ltd. of Seoul, South Korea, a company involved in renewable energy generation, contracted Cagayan de Oro-based MERGS Technologies, Inc. to conduct due diligence and feasibility study on the plant following a visit to Iligan Mayor Lawrence Ll. Cruz.

Formerly known as the Northern Mindanao Power Corp. (NMPC), the $110-million facility was the first fast-tracked build-operate-transfer power project that is controlled by a local firm. It was commissioned in 1993 as an offshoot of the independent power producers initiative of the Ramos administration and is a joint undertaking of the Alcantara Group and Tomen Corp. of Japan.

Previously designated as NMPC-1 and NMPC-2, the plants were renamed as the Iligan Diesel Power Plant 1 and 2 when the two units were turned over to the National Power Corp. — Michael D. Baños

Phl seeks compensation for destroyed coral reefs

Philippine Star
May 17, 2011

MANILA, Philippines (Xinhua) – The government is seeking compensation of not less than P42 million ($0.97 million) from a Panama-registered cargo tanker that destroyed a coral reef area in the southern Philippine region of Mindanao, a senior government official said today.

Environment and Natural Resources Secretary Ramon Paje said that damages inflicted on the Bakud (Takut) Reef in Kiamba, Sarangani by MV Double Prosperity on May 8 should include not only the cost of the damaged coral area, but the total worth of marine services that have been lost.

“We estimate that the damaged cost in Bakud Reef could run up to P42 million. But this amount is like giving a slap on the wrist on the ship’s owners as the value in marine services that was lost as a consequence of the accident is invaluable,” he said.

The 225-meter Panama-registered cargo tanker, loaded with 65, 900 metric tons of coal, was heading for India from Australia when it plowed through a portion of Bakud Reef, which is within the 215, 950-hectare Sarangani Bay Protected Seascape (SBPS), a declared protected area.

Authorities have estimated that a hectare of coral reef has an annual average value of 130,000 dollars in terms of services to people.

GSIS stops housing loans

Property Guide
Cebu Daily News
May 12, 2011

Bacolod City — The Government Service Insurance System (GSIS) has put its housing loan program on hold as it is faced with total unpaid loans of P11 billion for 17,000 house-and-lot packages nationwide.

“The GSIS means business in protecting the resources of its stakeholders, which may have been abused in the past,” said its chairman, Daniel Lacson Jr.

“The current board and administration have decided to immediately stop additional housing loans until a comprehensive policy and program can be introduced to dispose of all the non-performing assets amounting to P11 billion or more,” Lacson told the Inquirer.

He said the 17,000 properties were now with the GSIS asset and disposal management group for disposal. The GSIS has been providing housing loans since 1954 and over the years has come up with different programs, Lacson said.

In the beginning, the GSIS provided loans to members only but later it began extending loans to developers and then got involved in real estate development, buying land and building houses and selling these as house-and-lot packages, Lacson explained.

In a report to the GSIS board, consultant Mel Alonso said the GSIS did not have adequate manpower to support its various financing activities, which resulted in its failure to collect payments. The GSIS could dispose of its assets through government agencies engaged in housing programs, banks or private developers, Alonso said.

“In short, the board wants closure in terms of policy with regard to the housing program as well as other activities of the GSIS currently having difficulties,” he said.

The GSIS, meanwhile, has foreclosed on a 5-hectare private cemetery in Hinigaran, Negros Occidental, following its owner’s failure to pay a P17-million loan, Lacson said.

The estate of Jose and Rosario Echauz used the P17 million loan obtained in 1999 to develop the property. When it was granted the loan, the Echauz estate promised to create a corporation with a paid-up capital of P25 million but when it registered the firm with the Securities and Exchange Commission, the paid-up capital was only P312,500, Lacson said. /INQUIRER