CITING their vital contribution to the economic development of Misamis Oriental, five giant companies, led by FDC Misamis Power Corporation, were given awards of recognition by the Misamis Oriental provincial government, Monday (November 26), during the flag raising ceremony at the Capitol Grounds. The awarding ceremony was attended by recipients from the five companies.
Top executives of the awardee firms received each a plaque of recognition from Gov. Yevgeny Vincente Emano himself during the weekly flag raising held Monday morning at the provincial capitol grounds in Cagayan de Oro City.
Receiving the plaque in behalf of top taxpayer FDC Misamis Power Corporation was president Juan Eugenio Roxas.
FDC Misamis Oriental Corporation, which operates a coal-fired power plant in the province, was cited as Top Taxpayer for paying a total of Php 60,698,039.72 in taxes, for the first, second, and third quarter of 2018.
The other top-paying companies were Minergy Power Corporation, Holcim Philippines Corporation, Coca-Cola FEMSA Philippines, Inc. and STEAG State Power, Inc.
Second to obtain the citation was Minergy Power Corporation paying Php 40,249,340.96 in the three quarters of 2018. Engr. Gaudencio Bascon Jr., the Plant Manager, received the award also.
Holcim Philippines Corporation garnered the third top spot with Php 24, 017, 746.88 paid taxes. Its CSR Manager, Ms. Michelle Angelie Galarpe received the award.
Coca-cola FEMSA Philippines Inc. was No. 4 with a tax payment of Php 10,878, 811.14. Coca-cola was represented by Mr. Noel Anore, the Cost & Inventory executive of the company.
No. 5 tax-payer, with a tax payment of Php 7, 160,936.25 was Steag State Power Inc., represented by Mr. Manny Leuterio, Community Relations Officer.
The companies were acknowledged by the provincial government through Acting Provincial Treasurer Mr. Ronald Jame Violon..
According to Mr. Carlos Dugaduga, PIO Overseer at Provincial Government of Misamis Oriental, the five companies were granted 20% discount of their payments. He also added that companies paying on time will be given a 10% discount of their taxes as a way to encourage them to pay on time or before the deadline. “At least, they can avail the tax discount if they pay the right amount at the right time,” Duga-duga said.
Nevertheless, Dugaduga said that the Provincial Treasurer and Gov. Yevgeny Emano urge those probable companies to consider Misamis Oriental as a good area for investment. More investors are invited to raise more revenues which will benefit projects and services for the people of the province.
“The more investments that will come along, the better for Misamis Oriental,” he reiterated.
FDC Misamis Power Corporation has been maintaining a 405-MW coal-fired power plant at Phividec Industrial Estate in Misamis Oriental since 2016 using fluidized bed boiler technology. It is under the umbrella of FDC Utilities, Inc. which is in turn a subsidiary of Filinvest Development Corporation. FDC Misamis Power Corporation has five sister companies maintaining other power plants elsewhere in the country. (By Mark Francisco with Francisco C. Silvidad Jr., LDCU Intern)
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