BusinessWeek M I N DA N A O CREDIBLE
Volume XIII, No. 76 AS OF 6:00 PM NOV 21, 2022 (FRI)
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Briefly Bakunahang bayan DAVAO City – The Department of Health (DOH) is keen on expanding vaccination coverage in the Davao Region as it kicked off Monday its nationwide Bakunahang Bayan Part 2 here. In a media interview, Dr. Annabelle Yumang, DOHRegion 11 director, described the Bakunahang Bayan Part 2 as "a great opportunity" for the public to increase not only the region's vaccine coverage but the whole country as well. "The local government units and other sectors of the government here in Davao Region continuously work for the benefit of the people," she said.
IN-DEPTH
WESM-M’danao set to operate Dec. 26 www.businessweekmindanao.com
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YOUR MINDANAO-WIDE BUSINESS PAPER
Wed-Thu| December 7-8, 2022
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By MYRNA M. VELASCO Contributor
T
HE Department of Energ y (DOE) is finally eyeing to roll into commercial operation before the end of this year the long-delayed Wholesale Electricity Spot Market (WESM) in Mindanao to cater to energy capacities that will be traded by qualified participants in that grid.
Rising HIV in Normin
A TOTAL of 2,561 cases of human immunodeficiency virus (HIV) have been recorded in the Northern Mindanao region from the first detection in 1991, a Department of Health Region 10 (DOH-10) official confirmed on Thursday, Dec. 1. Dr. Wellaflor Brito, head of DOH-10 Infectious Diseases Cluster, said in a media forum that the data include the 66 new HIV cases in the region for the month of September this year. With the newly-confirmed cases, the DOH-10 already recorded 430 HIV cases in the region from January to September of 2022.
Maharlika Fund CRITICS from various sectors — including private citizens, economists, academics, bankers, and government officials — have decried the Maharlika Wealth Fund (MWF), citing lack of fiscal space, high debt levels, and possible mishandling of funds as reasons the Philippines is not ready for a sovereign wealth fund (SWF). Business associations and economic policy groups, in a Dec. 5 statement, said that they do not support the creation of a SWF. “We register our serious concerns and reservations against the proposed MWF on the principles of fiscal prudence, addtionality, solvency of social pension funds, contingent liabilities, monetary independence of the Bangko Sentral ng Pilipinas, government in the economy, and transparency,” said a statement approved by 12 associations, including the Foundation For Economic Freedom and the Management Association of the Philippines.
HUMAN RIGHTS PHOTO EXHIBIT. Constituents of the Mindanao State University – Iligan Institute of Technology gather to view “Pagtipig: A Photo-narrative exhibit illustrating human rights in the context of Mindanao” Monday morning (Dec. 5), as one of the opening activities in the university’s celebration of Human Rights Week. MindaNews photo by BOBBY TIMONERA
A draft circular showed that DOE is inclined to declare December 26, 2022 as the commercial operation date (COD) of the spot market in Mindanao. Alongside that plan, the energy department indicated that “the scheduling and dispatch of capacities in Mindanao shall be based on
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SEC warns public vs Cashbaka app By ANTONIO L. COLINA IV
DAVAO City — The Securities and Exchange Commission (SEC) has warned the public against investing in mobile investment application Cashbaka. In an advisor y, the SEC confirmed that individuals representing Cashbaka have been enticing the public to invest their money with the investment app in the SEC-Davao Extension Office’s area of responsibility covering Davao Region, Soccsksargen, and Cotabato City and Maguindanao in the Bangsamoro Autonomous Region in Muslim Mindanao DAVAO City — Former (BARMM). Sarangani Miguel The app Governor entices the public to Rene by Alcantara Dominguez invest purchasing virtual cows hasitsjoined the 60-year-old on online platform for a promise of receiving 150% to 200% interest Alsons Development and within 30 days, including a return Investment Corporation of capital within days. (Alsons Dev)15 as its new Alleged investors of Cashbaka director who will oversee also promote the investment scheme the business strategy and through social media. operations ofscheme, the premier Through this investors are promised to receiveand monthly property developer real incomes of P750, P3,060, and P8,820 estate pioneer in Davao City. for their investment P500, Alsons Dev isof the realP1,700, estate and P4,200, respectively.
The Commission said that Cashbaka is neither registered as a corporation or partnership nor authorized to solicit investments from the public because it did not secure prior registration and/or license to sell securities or solicit investments. Section 8 of the Securities Regulation Code (SRC) provides securities “shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the Commission.” The agency also warned that salesmen, brokers, dealers or agents of Cashbaka may be held criminally liable for offering and/or selling or convincing people to invest in the investment scheme allegedly through the internet or any other means. It added that a penalty of P5 million may be imposed upon the violators or imprisonment of 21 years or both. “We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf,” it said.
CHRISTMAS IN KIDAPAWAN. The theme of Kidapawan City's "Festival of Lights" is "Luntian Kidapawan" (Green Kidapawan). MindaNews photo by GREGORIO C. BUEN
GenSan City could be famous for grapes, too By BONG S. SARMIENTO MindaNews
GENERAL SANTOS City – General Santos City, the “Tuna Capital of the Philippines,” is proving to be a suitable site for grape production, with a woman leading the way in showcasing
that it can be grown here allyear-round. From just a 100-square meter lot about a decade ago, Maria Caballes, a Dabawenya, now grows fruit-bearing vines in at least two hectares that she acquired gradually over the years, with
more areas for expansion. The 41-year-old entrepreneur has turned a barren land on the hills of Purok Wal, Barangay Tambler – on a spot that offers a great view of the Sarangani Bay – into a model grape farm known
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