ICS Renewables, the power company that won the bid for the 0.8-megawatt Amlan Hydroelectric Power Plant in Negros Oriental, has been directed by the Power Sector Assets and Liabilities Management Corp. to put up a 10 percent performance bond.

PSALM gave ICS Renewables 10          days to put up the bond, which is equivalent to $23,000, based on the Asset Purchase Agreement.

The newly-incorporated, Filipino-owned company involved in the manufacture of alternative fuels, headed by Juan Eugenio Roxas of Dumaguete City, was named  the winning bidder after it offered $230,000 for the hydropower facility last December 10.

IN NEGROS OCCIDENTAL
NSO conducting
two surveys this month

The National Statistics Office will conduct two surveys in Negros Occidental this year – the Labor Force Survey and the Consumer Expectations Survey.

The LFS that will be conducted this month will be for the fourth quarter round with October to December as reference months while CES is a joint project of the Bangko Sentral ng Pilipinas and the NSO, a press release from NSO said.

Provincial Statistics Officer Fred Sollesta said the data gathered from the two surveys will be used for statistical purposes only and will be published in summary forms.

10-month FDI falls to $1.4B

MANILA – Foreign direct investments in the Philippines plunged 46.6 percent from a year earlier to $1.418 billion in the 10 months to October, 2008 due to the global financial crisis, the Bangko Sentral ng Pilipinas said yesterday.

For October alone, net FDI inflows fell 76 percent to $31 million, a 76 percent reduction from the same period in 2007, a central bank statement said.

"Investment decisions were stalled by foreign investors’ concerns over the developments in financial markets, particularly in the weeks following the unfolding of the global financial crisis in late September," the central bank added.

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