MOELCI 1 Board of Directors elected new Prexy during the 39th AGMA

By Philip James M Tremedal

OROQUIETA CITY (April 29, 2018) – The Misamis Occidental Electric Cooperative Incorporated-1 (MOELCI-1) Board of Directors had elected its Board President during the 39th Annual General Membership Assembly Saturday here in the city of Good Life that comprises two district of MOELCI-1 Members-consumers of the electric cooperative

Board of Director Sunny Bulang of Plaridel District who was sworn in during the said assembly as the new elected member of the board representing Plaridel District together with Board Director Charvy Potutan of Lopez Jaena District.

BOD Sunny Bulang once a public servant in 1996-2007, 2010-2013, 14 years of experience as Municipal Councilor, was elected also as a former Board Member of the Cooperative in 2008-2013 and –re-elected in 2017 again as MOELCI-1 Board of Director

His Vice President Rene Apolinar Bajamonde of Oroquieta City South District who was elected against BOD Charvy Potutan of Lopez Jaena District will join the newly seated MOELCI-1 President. BOD Treasurer Jojit Armada of Baliangao Distict re-elected unopposed and the new Secretary BOD Arberto Suminguit of Sapang Dalaga District was elected unopposed. Members are outgoing President Rey Roger Villanueva of Oroquieta City North District, BOD Zean Masamayor of Aloran District, BOD Clint Janssen Yap of Calamba District and Ex-Officio BOD Ruben Bonalos, General Manager MOELCI-1 who acted as Board COMELEC in the election of new officers of the Board of Directors.

In his message, President BOD Sunny Bulang said that in unity we will achieved what we are hoping for a better MOELCI-1 in the future as we go ad move forward for the benefit of our members-consumers of the electric cooperative.

With this year’s theme “Membro Konsumante adunay Dakung Kaakuhan alang sa Kalambuan sa MOELCI-1.” 5,000 more or less member-consumer had registered to participate in this year 39th Annual general Membership Assembly. Of the 50,266 member-consumer who some filed their complaints thru an open forum in regards to the servicing of the electric cooperative that was also responsibly answered by the management thru GM Ruben Bonalos and Outgoing President of the Board of Directors Board President Rey Roger Villanueva.

In his message, GM Bonalos shared the accomplishment of MOELCI-1 with God’s grace the electric cooperative has retained the AAA+ Category, “This is where MOELCI-1 commit itself for continuous improvement in its management and operations.”

Meanwhile, outgoing President BOD Rey Roger Villanueva who as legacy of his presidency will be remembered as the BOD President that lowered the rate of electric consumption per kilowatt-hour. He revoke all anomalous contract of the past administration that because of this transaction MOELC-1 suffered from debts, and during his two terms from an ailing electric cooperative. BOD Villanueva as President of the Board together with his member officers and the management of MOELCI-1 led by General Manager Ruben Bonalos achieved the AAA+ Category for two consecutive years 2016 and 2017.

Financially, in 2017 MOELC-1 acquired a sales of 497,451,558.00 million 7.6% more from 2016 of 462,257,698.00. MOELCI-! Power cost in 2017 P385, 341,547.00 million was 10.5% more of the 2016 P 348,687,622 and 77.46 % to Sales.

MOELCI-1 Operating Expenses in 2017 P 79,643,259.00 which was 14.42% more than 2016 P69,602,467.00 while Fixed and financial charges were P36,774,711.00 which was 2% more than 2016 P 35,934,017.00, while its Debt Ratio was 0.58, Current ratio was 1.31 and collection Efficiency was 96% and with the National Electrification Administration (NEA).

The total assets of MOELCI-I has increased by P128, 840,267.00 or 31% due to continuing upgrading and rehabilitation of coop distribution lines and close-out of completed line construction projects. The asset appraisal with the current ratio of 1.31 indicates that MOELCI-1 has enough assets to pay its current liabilities, “for every pesos current payable, there is PHP 1.31 current asset to pay for it,” GM Bonalos proudly says.

During the 39th Annual General membership Assembly, Executive Assistant to the Executive Secretary Harry Roque Jr., ASEC Rowell B Garcia ably represented by the Presidential spokesman together with Engr. Hermie Hamoy, OIC District Senior Manager of the National Grid Corporation of the Philippines (NGCP), City Vice Mayor Lemuel Merrick Acosta who represented Honorable City Mayor Jason Paredes Almonte shared their views and message of unity to both Members-Consumers and the Management of MOELCI-1.

Said activity ended with a raffle of prizes for the members-consumers of the Misamis Occidental Electric Cooperative Incorporated-1