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Aboitiz 2005 Income Jumps 29%

DAVAO CITY — Aboitiz Equity Ventures, Inc. (AEV) ended 2005 with a net income of P3.16 billion, 29% higher than its restated 2004 net income. This translates to earnings per share (EPS) of P0.65.

As a result of the adjustments made to comply with new accounting standards, the net income figure for 2004 was restated upward by P121 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 9% to P6.36 billion. Consolidated revenues in 2005 increased by 21% to P27 billion.

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Duterte Paves Way for Implementation of Water Code

DAVAO CITY ? After five long years, the Davao City government is finally implementing the Water Resource Management and Protection Code of the city with the release of an executive order creating the body that will finalize the code?s implementing rules and regulations (IRR).

Mayor Rodrigo Duterte, through Executive Order 09, ordered the creation of the joint executive-legislative committee ?to study and review the implementing rules and regulations and recommend revisions and to submit the revised implementing rules and regulations necessary to effectively carry out the provisions of the code.?

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Huge Market for Veggies in Mindanao

By Prix Banzon
Philippine Information Agency

DAVAO CITY — There?s a huge market for vegetables in Mindanao and yet farmers produce the product for the Luzon area.

This was the observation made by Dante Sarraga, Jr., executive vice president of the Philippine Vegetable Industry Development Board during the Club 888 Forum at The Marco Polo Hotel yesterday.

Sarraga said if the vegetable produce are marketed within Mindanao, farmers will earn more instead of the products shipped to Manila where the transport time run up to 52 hours and have to l wait for 70 days to get paid.

?If transaction is done here mas madali kasi kaliwaan lang yan, you deliver the product and get paid immediately,? he said.

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MILF Talks in KL End in Deadlock

By Keith Bacongco
davaotoday.com

COTABATO CITY ? The peace talks between the government and Moro Islamic Liberation Front (MILF) is now deadlocked as both parties failed to iron out some “consensus points” during the exploratory talks last week in Kuala Lumpur.

MILF chief negotiator Mohagher Iqbal, in an interview, said the recent two-day exploratory talks ended without any breakthroughs.

“We were not able to finish it. We failed to agree on some consensus points. But is still moving forward and still on track,? Iqbal said. ?September this year still remains as a target of the signing of final peace agreement.”

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In Siocon, Subanens Continue Struggle Vs Canadian Mining Firm

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Subanen supporters of TVI ask critics to ?leave us alone?; company says mining brought benefits to community

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Bishop Jose Manguiran of Dipolog leads the re-consecration of Mt. Canatuan

SIOCON, Zamboanga del Norte — For two years, timuay (tribal chief) Jose Anoy has not been able to set foot in his home. Home is Mt. Canatuan, the most sacred place for the 2,000 Subanen people, which has been encroached into by the mining firm Canada?s Toronto Ventures Inc (TVI) since 1994.

Anoy said that the TVI has prevented him from returning home because he refused to give consent for the company to mine 508 hectares located in the Subanen?s sacred land.

?The company offered me money before, and shares in their profits,? he recalled. ?Accepting this could have been easy, but being a timuay, I remained firm for the sake of the Subanen.?

His stand forced the company to lay it hard on Anoy — driving him away from his own home. Since then, TVI has taken over Mt. Canatuan, barricading the area with three checkpoints.

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