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Recto revives plan to sell NAIA assets
Finance Secretary Ralph Recto has revived plans to sell the assets of the Ninoy Aquino International Airport and turn it into a new business district to generate additional revenues for state coffers......»»
NAIA 4th worst in Asia, Middle East for business travel
The Ninoy Aquino International Airport has been named as the fourth worst gateway in Asia and the Middle East by business class travelers, trailing its Southeast Asian counterparts that were adjudged as some of the best in the continent......»»
EDITORIAL — The fourth worst
Here’s another problem that turns off foreign investors, and its solution does not call for amending the Constitution. Business class travelers – people with the type of money that can provide job-generating enterprises in the Philippines – have ranked the Ninoy Aquino International Airport as the fourth worst gateway in Asia and the Middle East......»»
From shame to fame
Whispers and huffs and puffs of frustration and disappointment from losing bidders – coincidentally during a week dedicated to love and lovestruck lovers – made the rounds in the business grapevine but nothing could stop the inevitable. At the end of the work week, the government chose the best offer it received for the upgrade of the Ninoy Aquino International Airport......»»
SEC chairperson named first-ever Public Sector Innovator in Mansmith Innovation Awards
Mr. Aquino was recognized alongside five other top innovators for their contributions in microlending, product innovation in food supplements, product innovation as a nongovernmental organization, online stock trading, and innovative business model during the awarding ceremony held on November 17 at The Podium in Mandaluyong City......»»
Valuing Valuable Employees: The Cebuana Lhuillier Way
Cebuana Lhuillier has changed many people’s lives through the many products and services they offer. From a humble pawnshop to being one of the biggest microfinance companies in the Philippines, Cebuana Lhuillier has become synonymous with the words trust and reliability as it continues to financially empower Filipinos across the nation. But in no place has the impact of Cebuana Lhuillier been more felt than within the confines of the company, where many of their employees have stayed for years and, in some instances, decades. And throughout their decades of service, they are grateful to Cebuana Lhuillier, who inspired their growth by imparting new knowledge and skills, applauding and giving them recognition, and showing that they are valued and cared for like a true family. Recognition and Promotions Ricardo Cruz has been with the company for more than 35 years and has been a dedicated Area Head since 1998. Before his journey in Cebuana Lhuillier, Rey completed a degree in Business Administration with a Major in Management, and started his professional journey as a filing clerk. But fate led him to Cebuana Lhuillier, where his mother worked as a building caretaker for Agencia Cebuana. After passing the exams, Rey worked as a humble messenger and janitor at Agencia Cebuana Baclaran Branch. Among the many memories, Rey cherishes two significant milestones: he was appointed as an Area Head back in 1998 and won the highly coveted Best Area of the Year award. These moments of recognition and achievement fueled his motivation and inspired him to work hard for over three decades. "I am incredibly proud, grateful, and privileged to have been a part of this company for over 35 years. The most rewarding aspect of working at Cebuana has definitely been the continuous learning and personal growth I've experienced, which I've also had the privilege to share with my fellow Ka-Cebuanas. And I’m thankful to be part of this family. Because of Cebuana Lhuillier, I'm able to provide a comfortable life for my family," said Cruz. Marilyn Valencia, a dedicated member of the company for more than 35 years, holds a remarkable background. She is the Area Head for Region 1A, and her journey as a Ka-Cebuana has been filled with numerous achievements and significant milestones. During her tenure with Cebuana Lhuillier, she managed to earn 21 units in education and became a licensed teacher. Not stopping there, she also pursued and successfully completed her Master's in Business Administration at UE Manila, all while dedicating herself to the organization. In addition to her educational achievements, Marilyn's dedication has led her to be appointed as one of the first Area Heads in 1996. In this role, she took on the responsibility of overseeing branches in the entire Northern provinces, CAMANAVA, and parts of Manila and Pasay City. This included the rare opportunity to spearhead the opening of over 100 branches, a significant contribution to local employment and the training of new branch personnel. An Advocate for Continuous Learning Grace Ferolino, Business and Client Relations Manager of Region 4A, graduated with a Bachelor of Science in Civil Engineering. While she had various previous career opportunities, Ferolino eventually found a home in Cebuana Lhuillier and has been with the company for over 30 years. Among her countless experiences within Cebuana, Grace cherishes the memory of being selected for intensive diamond training at Gemlab and having the privilege to undergo Area Manager's training. For her fellow employees aspiring for longevity in the company, Grace emphasizes the importance of loving one's work and serving it with utmost honesty; treating the business as one's own; and mastering financial management to eliminate unnecessary debt. Aurora Genilo, Business and Client Relations Manager of Region 1A, is another exemplary employee who has dedicated over 30 years of her life to serving Cebuana Lhuillier. A graduate of BS Commerce Accounting, she holds her days as cluster leader and her involvement with the esteemed manning team closest to her heart. These roles, according to her, allowed her to nurture her leadership skills and actively contribute to the growth and success of the company. By working hard, she was able to ensure the education of her three children, one of whom has etched their own path within the company. "My journey of 30 years with Cebuana Lhuillier has been a transformative one. Not only did it enable me to provide for my own family, but it also provided me with numerous opportunities to develop my skills and advance in my career. I'm profoundly grateful for the continuous opportunities that Cebuana Lhuillier extends to all of its employees, including me," expressed Genilo. Region 5’s Business and Client Relations Manager, Imelda Quidato, has been with Cebuana Lhuillier for more than 30 years. With a Bachelor’s degree in Nursing, she first ventured into the world of sales as a promodiser before becoming a part of the Cebuana Lhuillier family. When asked about the best part of working for Cebuana, Imelda cited the skills she acquired in appraising and attending enriching training programs, which played a pivotal role in molding her both personally and professionally. An Open and Compassionate Heart Armed with a degree in Aircraft Technology, Abelardo Aquino Jr. took a leap of faith and applied for a job at Cebuana Lhuillier over 30 years ago. As the Area Head of Region 3, he reveals that the best part about working for Cebuana is the opportunity to interact with diverse individuals and tackle challenging situations head-on. He emphasized the significance of maintaining a positive mindset and embracing a "can-do" attitude. With determination and perseverance, one can overcome any obstacle and forge a lasting and fulfilling career at Cebuana Lhuillier. At Cebuana Lhuillier, employee appreciation is a top priority. The company demonstrates this commitment through comprehensive training programs, fostering a healthy company culture, and recognizing and celebrating exceptional employee contributions. This culture of appreciation, value, and nurturing is what sets Cebuana Lhuillier apart. The post Valuing Valuable Employees: The Cebuana Lhuillier Way appeared first on Daily Tribune......»»
Caregiver scarred, scared by Hamas attack
An overseas Filipino worker, one of 18 who flew home from Israel on Friday, said he remained unsure whether to return to the country should its conflict with Hamas subside or be resolved peacefully. Elmer Puno, a 43-year-old caregiver from Pampanga, said his employer in Israel called him up before he left for the Philippines, urging him to return when things settle down. Puno said his experience during the attack by Hamas militants on Israel on 7 October had left him emotionally scarred and traumatized. “My employer called me and said that when the situation goes back to normal, if I still want to come back, I can. But I said to myself that I cannot decide yet because of what I encountered in Israel,” Puno said. He said he still has two years left of his four-year contract but decided to resign for his safety and his family’s concerns. “My salary is pretty good. In our currency, that is P70,000 a month, tax-free,” he said. “When I heard the sirens, I ran to a bomb shelter. I was talking to my wife, who also heard the sirens and bombing.” “She was so scared. She asked me to urgently go home. My children said that I should go home, so when there was an opportunity for repatriation, I didn’t think twice about asking the government to repatriate us,” he said. Of the 18 repatriates from Israel, one was left behind in Abu Dhabi due to elevated blood pressure. Puno and his fellow OFWs arrived at Ninoy Aquino International Airport Terminal 3 on Etihad Airlines flight EY 424. The 18 OFWs received P105,000 each in direct financial assistance from various government agencies, and they are entitled to livelihood training to start a business. The post Caregiver scarred, scared by Hamas attack appeared first on Daily Tribune......»»
OFW undecided to return to Israel when war is over
An Overseas Filipino Worker said on Friday during the arrival of the second batch of repatriated OFWs in Israel that he is still uncertain of his return to Israel if the war subsides. Elmer Puno, a caregiver who has resided in Pampanga, said that his employer promised him that he could still work for them anytime he is ready but still undecided because of his traumatic experience during the attack by Hamas Militants in Israel. “To be honest, when I was about to fly yesterday, my employer called me and said when the situation comes back to normal, if I still want to come back, I can. But I said to myself that I cannot decide yet because of what I have encountered inside Israel,” Elmer said. Elmer’s contract has not yet ended as he still has two years and three months to finish but he decided to resign from his job as a caregiver as he worries for his safety and his family. He said he worked in Israel for two years and earned a good salary. “My salary is pretty good. In our currency, that is P70,000 a month, tax-free,” he said. Elmer stated that he did not hesitate to ask for repatriation to the Philippine government because of his family who is worried for his safety. “When I heard the siren, I ran to a bomb shelter, I was also talking to my wife who also heard the sirens and bombings. She was so scared. She is asking me to go home urgently. My children said that I should be home so when there was an opportunity for me to ask for repatriation, I didn’t think twice about asking the government to repatriate us,” he lamented. There are around 18 repatriated OFWs including a Filipino left in Abu Dhabi due to high blood pressure who arrived at Ninoy Aquino International Airport Terminal 3 via Etihad Airlines EY 424. The Department of Migrant Workers Undersecretary Maria Anthonette C. Velasco, together with the Overseas Workers Welfare Administration Deputy Administrator Honey Quino, Department of Social Welfare and Development Secretary Ada Colicon, and Technical Education and Skills Development Authority Deputy Director General Vidal Villanueva, received the second batch of repatriated OFWs. According to DMW Undersecretary Maria Anthonette Velasco, the government agencies provided financial assistance to the OFWs. “The 18 OFWs received P105,000 direct financial assistance today. P50,000 from OWWA, P50,000 from DMW, and P5,000 from DSWD. TESDA gave vouchers to the OFWs for them to undergo for training in opening a business and pursuing an entrepreneurship program,” Velasco said. Velasco added that the OFWs will be receiving medical assistance. Psychological first aid is one of the agency’s priorities for OFWs who are still traumatized. The post OFW undecided to return to Israel when war is over appeared first on Daily Tribune......»»
Domestic aviation rebounds this year
The local aviation industry, which was badly hit by the global health crisis, is seen to achieve full recovery this year. This was according to the International Air Transport Association in a recent forum organized by the European Chamber of Commerce of the Philippines. During the Aviation Forum last week, Yuli Thompson, area manager for the IATA in Southeast Asia, said the Philippines and the rest of the Asia Pacific region’s aviation market is swiftly recovering and seeing a consistent rise in terms of growth in international and domestic travel. Thompson said passenger traffic trends for international flights in the Philippines were logged at 75 percent of 2019 levels as of June 2023. As for the Asia Pacific passenger forecast, Yuli maintained that domestic travel will fully recover in 2023, while international travel will occur sometime in 2026. Further, Asia Pacific will be seen to lead in traffic growth in the next 20 years. “However, overcoming current challenges riding on the current momentum, and meeting full recovery will require strong interventions from all players in the aviation sector,” he said. Infra investments For his part, Cebu Pacific Air chief executive officer Michael Szucs emphasized the need to invest in infrastructure, citing that “Philippine carriers will need to quadruple in size to cater to growing demand.” In her keynote speech, Secretary Grace Poe urged stakeholders to support necessary infrastructure investments, especially following the air system glitch incident earlier this year. The senator called for the acquisition of a new Communication, Navigation, and Surveillance/Air Traffic Management. Poe also recommended the hiring of a third-party maintenance provider for the CNS/ATM system. “It is my hope that the government, the private sector, and other stakeholders can work together and collaborate on air transport projects which will not only generate economic growth but also provide our people with excellent and affordable public services that can improve the quality of life for all,” she said. Also filed by Poe is Senate Bill 1121 which proposes the creation of a Philippine Transportation Safety Board. Under the directive of the current Marcos administration, Department of Transportation Undersecretary for Aviation and Airports Roberto Lim highlighted the government’s key priorities, including aviation safety and strengthening of learning institutions. Lim further noted the agency’s priority of strengthening the Civil Aviation Training Center and engaging with the private sector as close partners for Air Transport Skills Training and Development. “If we are able to train our air traffic controllers, we would not only meet our own requirements, but the requirements of other countries. We can develop this on an institutional basis,” said Lim. Open up the industry Kurt Edwards, director general of the International Business Aviation Council, also raised the fact that much could be gained “by opening the industry and making it more known to people.” In terms of managing safety risks, Captain Manuel Antonio Tamayo, director general of the Civil Aviation Authority of the Philippines, shared initiatives to advance safety capabilities in the aviation sector through the State Safety Program. The program employs a risk-based approach to regulations, capacity building and integration of a new organizational structure for monitoring and evaluation. Meanwhile, Transportation Secretary Jaime Bautista stressed that the DOTr’s goal to rehabilitate the Ninoy Aquino International Airport through a public-private partnership agreement, which he said, will present a “landmark opportunity for economic growth, improved infrastructure, and a world-class travel experience.” Added Bautista, “We are also developing regional airports, such as the unsolicited proposals for the operations and maintenance of the Bicol International Airport, Bohol-Panglao International Airport and Laguindingan Airport.” The post Domestic aviation rebounds this year appeared first on Daily Tribune......»»
SEC eases float disclosure rules
Regulator Securities and Exchange Commission, or SEC, has issued guidelines streamlining the requirements for companies seeking to raise funds in the capital market. The Commission on 12 and 21 September issued SEC Memorandum Circular 13 and 14, Series of 2023 to amend Annex C of Rule 12 of the 2015 Implementing Rules and Regulations of Republic Act 8799, or the Securities Regulation Code. Annex C of SRC Rule 12 details the non-financial information that must be disclosed in the registration statements filed with the SEC by corporations issuing securities such as shares of stock, corporate bonds, and commercial papers in order to raise capital. Part III, Paragraph A, Subparagraph 2(a) of Annex C directs a registrant to discuss its “financial condition, changes in financial condition, and results of operation for each of the last three fiscal years” under the Management’s Discussion and Analysis section of its prospectus. MC 13 clarifies that registrants are required to disclose financial information for only two comparative periods for the last three fiscal years. For instance, financial statements for the year ended 31 December 2022 must contain line items showing comparative balances only for 31 December 2022 and 31 December 2021. In addition, the financial statements must contain line items for the comparative balances only for the fiscal years ended 31 December 2021 and 31 December 2020. Risk factors required MC 14 relaxes the requirement for a registrant to provide mitigating factors in the Risk Factors section of its prospectus, making the disclosure optional. Part I of Annex C directs a registrant to provide a description of its business, including a discussion of major risks involved in the company and its subsidiaries. MC14 amends the provision by stating that “[t]he company may include disclosure of the procedures to identify, assess, and manage such risks.” Furthermore, Paragraph C, Part VI of Annex C has been amended such that “[t]he registrant may indicate measures to mitigate the risks” related to its business. Such risks include factors that make the offering speculative or risky such as the absence of operating history, lack of profit from recent operations, poor financial position, or lack of market for the registrant’s securities. “The streamlined procedures are part of the Commission’s efforts to encourage more companies to tap the capital markets for their business expansion needs,” SEC chairperson Emilio Aquino said. The post SEC eases float disclosure rules appeared first on Daily Tribune......»»
Chronic bureaucratic lapses
The entire bureaucracy suffers from serious lapses. Let’s borrow the phrase, “seven deadly sins,” as a handle to better understand how they indicatively fail to inform public policy on what government “should do or should not do,” to wit: First: “Tight fiscal space.” A little over 60 percent of GDP (gross domestic product) is reserved for foreign lending institutions with which the country has huge borrowings. Consequently, the government has to make do with the remaining less than 40 percent in terms of public spending. It’s no urban legend that about 45 percent of these allocable public funds is siphoned off due to massive corruption across all levels of government. Second: “Good governance.” The term, as often used, is an oxymoron. Whenever presidential appointees in any line department, agency, or bureau introduce reforms or new management ideas into state affairs, it’s unfortunate that outcomes and impacts go in the opposite direction — or bad governance overshadowing good. Isn’t it a paradox that the “top brass” of the Manila International Airport Authority were dismissed by the Ombudsman even as key stakeholders and captains of industry (i.e., the Makati Business Club) vetted and vouched for their performance par excellence on the job? Contrivedly, a purely management issue just shouldn’t be within the purview of the Ombudsman. For another, how is it that the housing program has become too costly for the government? Reportedly, P36 billion in interest is accrued by the government every year if one million houses are built. With a target of three million houses, the onerous interest is pegged at P100 billion every year, a “sunk cost” that the economy can ill afford to sustain. Why even start a program that demands that humongous amount of interest on a year-by-year basis? Third: “Street-level bureaucracy.” Nearly the whole range of public affairs appears to be manned by those we can compare to a typical traffic enforcer, gate guard, or utility aide, who, if given a chance to exercise a little authority, tend to behave as their actuations come directly from above. Fourth: “Tax hike.” Some strange mathematicians in Congress thought of taxing vehicles per kilo of weight, coupled with jacking up taxes on vehicle users by as much as 90 percent. Worse, how can there be an increase in the road users’ tax – year in and year out? Fifth: “45 seconds turnaround time.” This is the kind of rhetoric that rests on the “big bluff” or what one legislator calls a “promissory note,” or the carrot, to get what they want in their agency budgets. Scenes like offloading, missed flights, and logjams would never be a thing of the past since the Bureau of Immigration operationalized its new set of guidelines that are essentially racist, if not anti-poor, against outbound Filipino travelers, while sparing foreign travelers. Sixth: “Privatization overdrive.” There’s a dangerous pattern or trend of government aiming to privatize the Ninoy Aquino International Airport, all 45 casinos of PAGCOR, some mass transport systems (e.g., LRTs), and the toll expressways. Whether or not this privatization track is driven by the “gospel of efficiency” is another story. More likely, it’s because it opens doors to raising “windfall capital” and making available “alternative investments.” Seventh: “Multiple allotments.” As if a mere afterthought, there are “double entries,” even multiple ones, in the National Expenditure Plan that bloat the budget and such entries by various agencies even insulate them from any accountability. This explains why what is budgeted — twice or thrice — cannot be disbursed over and over again, not to mention the perennial failure of most line departments to fully utilize their budgets. In the voluminous General Appropriations Act the President signs, every budget cycle has become a “hiding place” for public funds that only trained eyes can declassify as “significant others,” for lack of a better term. It isn’t remote to say that when an agency prepares its budget, it knows under which item in its “shopping list” the money is. The post Chronic bureaucratic lapses appeared first on Daily Tribune......»»
Andrea Brillantes can’t relate to the ‘boy talk’
In her latest vlog, Andrea ‘Blythe’ Brillantes takes her viewers to a behind-the-scenes look on the first-day shoot of her now buzzy series “Senior High”. It’s an interesting look at the technical business of filmmaking, where Blythe illustrates the complications of shooting and playing a dual role. She plays twins, Luna and Sky, in the series. Blythe takes to gently roasting her mom Belle Brillantes and Angel Aquino, who are having a conversation during a break. You can hear Angel Aquino in the background ask Blythe’s mom if she wants to marry again, to which Belle says she prefers an ‘Afam’ or a foreigner. Blythe, in a tongue-in-cheek tone, says she can’t relate to the boy talk because she’s all about the work now and earning the bucks. She revealed in the vlog that her mom is the real-life iteration of Angel Aquino's character, Tanya. Blythe's very public breakup with Ricci Rivero has been the subject of much talk. The post Andrea Brillantes can’t relate to the ‘boy talk’ appeared first on Daily Tribune......»»
MAP denies backing on dismissed MIAA chief
Management Association of the Philippines president, Atty. Benedicta Du-Baladad denied that her group aired its support to the dismissed Manila International Airport Authority, General Manager Cesar Chiong, and MIAA OIC assistant general manager Irene Montalbo, saying that the backing came from some of its members. Besides MAP, the Makati Business Club last week released a statement of support backing Chiong and Montalbo, questioning the decision of Ombudsman Samuel Martires. “Please note that this is not a MAP statement. Nowhere should the statement be attributed to MAP. This is a statement of individual businessmen and professionals who requested us to distribute it to the media,” Baladad told the Daily Tribune. Trabaho Partylist on Wednesday also hit business groups petition urging Ombudsman Martires to reverse the decision dismissing Chiong, stating that it is a clear interference with the independence and investigatory functions of the Ombudsman. “While the 1987 Constitution created the Ombudsman as ‘an independent constitutional body, unfettered by political influence and insulated it from the ebb and tide of political fortunes,’ here comes now a group of businessmen trying to erode the integrity of the office,” Trabaho Partylist Secretary General Atty. Juan Paolo Lorica said. “The decision dismissing Chiong and MIAA OIC assistant general manager Irene Montalbo is clearly supported by evidence. It is unfair for the business sector to even insinuate that the Ombudsman and the panel of investigators did not investigate and decide the case with utmost objectivity,” he added. Lorica pointed out that Martires’ record as Ombudsman has consistently shown he has maintained his independence and that he does not look into the political color of the respondents of the cases being decided by his office. “It must be recalled that Ombudsman Martires caused the withdrawal of the usurpation case that his predecessor has filed against President Noynoy Aquino. And just recently he dismissed from the service the Over-All Deputy Ombudsman for his involvement in the Pharmally case. The Ombudsman exacted justice for the Filipino people even as other government organs failed to do the same,” he said. The Trabaho Partylist Secretary General further stressed that what the business groups are asking is for the Ombudsman to favor Chiong. “Is Chiong the only citizen who can manage the airport efficiently and effectively? Is he the only citizen who is honest for which this government must lean on?” he asked. Last April 2023, Chiong and Montalbo were put on preventive suspension by the Ombudsman for Grave Abuse of Authority, Grave Misconduct, and Conduct Prejudicial to the Best Interest of the Service for reassigning 285 MIIA personnel despite the two officials’ temporary positions in the attached agency of the Department of Transportation. The post MAP denies backing on dismissed MIAA chief appeared first on Daily Tribune......»»
Heaven, NAIA mess, easy way out
Dear Editor, Who wants the Ninoy Aquino International Airport or NAIA to remain one of the worst airports in the world? Nobody. But who sells or disowns his child just because the child is problematic? Nobody either, except the loveless and crazy. The Marcos Jr. administration has just formally kicked off the sale of NAIA to the private sector. But for unknown, real/deeper sense and repercussion, what does this mean? Letting one’s knee touch the canvas during a boxing matchup means surrender. Alas, this is exactly what the government tries to do in pushing its knee hard to the floor. Or in doggedly pushing to privatize the “helplessly” beleaguered NAIA. It is the way to “solve” the mess at the country’s premiere airport, or so they thought. But what is the use of government if it can’t compete with the private sector in efficiency, governance, and modernization? What can private people do that public officials can’t, with all the yearly budget (in trillions of pesos) at their disposal? Cryptic. Hindi ba gobyerno pa nga ang dapat magpakita ng pinakamagaling, pinakamoderno at pinakamagandang halimbawa para sa lahat sa bansa (Shouldn’t the government be the one to show the best, most modern and best example for everyone in the country) to serve as a standard/benchmark for excellence? If a government can’t set the right example for everyone, then how can its people expect something good to come out of it? There is more than meets the eye to all these NAIA brouhahas/shenanigans. The main challenge lies in our officials’ capability, effectiveness, and wisdom in solving the ongoing issues at NAIA. What sane reason does the Department of Transportation and Communication (or Malacañang) have to privatize NAIA? Are they admitting that the private sector or business people are better off than them in the area of managing and administering? If that’s the case, then Filipinos would do well to have these private people take over every single office in the government. Or could there be something behind the “privatization” move that only those behind are aware of? Given the ever-escalating prices of rice and other agricultural/local products, the needless importations, the unabated smuggling, and the hoarding that causes artificial shortages of rice, sugar, salt, onion, meat products, etc., in the market, would it be bad to suggest that we privatize the Department of Agriculture, following the government’s touted line of thinking in wanting to privatize NAIA? Easy, lazy way out. Time to break the cycle, this vicious cycle of “privatization,” lest Filipinos someday find the entire country privatized “wisely”. Easy, lazy way out. I had a wonderful experience of government efficiency on 30 August 2023, when I went to the central office of the Philippine Statistics Authority along East Avenue to get an authenticated birth certificate. I thought I wouldn’t be able to do my purpose anymore because I came very late due to the rain and heavy traffic. But I got the surprise of my life, having found the PSA staff (including the guards) very accommodating and friendly, quick to respond. The processing of papers was highly systematic, cogent, instantaneous, and ingenious. The counters and machines, and the whole big, wide people area were well arranged and ventilated. Admirable. I arrived at 4:30 pm and I left at 4:50 p.m., with my authenticated birth certificate. Wonderful. No delays, hassles or inconvenience. And no exaggeration. For the first time, I felt like I was in heaven — inside a government office, unbelievably. True to its motto, the PSA is “Solid. Responsive. World-class.” You can do it (Philippians 4:13) at NAIA and elsewhere, dear government. But do away with privatization. Reni M. Valenzuela renivalenzuelaletters@yahoo.com The post Heaven, NAIA mess, easy way out appeared first on Daily Tribune......»»
Fuse Lending mulls tie-up with small lenders
Fuse Lending Inc., a subsidiary of Globe Telecom Inc., is exploring partnerships with community-based stores and small lenders like cooperatives to provide business loans to more micro, small and medium enterprises or MSMEs. “We have no partnerships with cooperatives but there are discussions with some. Nothing is final yet. But we’re always open to partnerships,” Baby Aquino, Fuse vice president for strategy and chief of product, told the Daily Tribune last Wednesday at an event by GCash and Fuse entitled “Borrow for Tomorrow” in Bonifacio Global City, Taguig. Fuse and Globe’s GCash provide a range of loan products using the mobile app. Fuse said 35 percent of its P100-billion loan disbursements as of July went to MSMEs. In terms of client locations, 70 percent are based in Metro Manila. Best way to reach the market “There are many who have expressed interest in partnering with us. We have a dedicated department for big partnerships but it also focuses on tapping retail shops and sari-sari stores. This is the best way to reach the market,” Aquino said Aquino said the firm is maximizing artificial intelligence or AI to determine possible business loan borrowers based on their behaviors when using GCash’s various transactions. “We’re using AI because customers don’t declare all the time that they are doing retail business on the side. For these customers, we give different communications or messages,” she said. Based on clients’ feedback, Aquino said many MSME owners need bigger amounts but for short-term use. “We continue to explore other products which can offer bigger loan amounts. Retail shops really appreciate that we can enable them to have stocks for their products but with GGives because they often are not able to sell all their inventory in one day or short period of time,” Aquino explained. GLoan offers credit up to P125,000 on a one-at-a-time disbursement with repayment period of up to 24 months. GGives, on the other hand, offer multiple loans at the same time with a total amount of up to P125,000 which is paid in installments. Campaign in public markets As the Christmas season starts in the Philippines as early as this month, she said Fuse and GCash will be putting up campaigns, including financial literacy activities, in various public areas including public markets to reach MSMEs that will be setting up their stalls to sell products for Christmas gifts. “We’ll not stop and focus on MSMEs because there are still many of them to serve. They can use bigger credit amounts to buy additional stocks of their products and so increase their sales, as well,” Aquino said. GCash’s marketplace links clients with financing firms and banks that can provide bigger amounts for long-term goals, such as purchase of equipment or real estate. The post Fuse Lending mulls tie-up with small lenders appeared first on Daily Tribune......»»
The airport business
Running an airport is a big business. It’s the reason why nearly every tycoon in the Philippines wants to operate the Ninoy Aquino International Airport, the country’s main gateway......»»
Secure amnesty before fines hiked
Corporations and associations who have been delinquent in filing their annual reports should avail of the amnesty program before higher penalties kick in starting in October. “We reiterate our reminder to all corporations that starting a business does not end with registration with the SEC. This is just the first step — they must faithfully comply with reportorial requirements thereafter to ensure their continuity and sustainability,” Securities and Exchange Commission Chairperson Emilio Aquino said over the weekend. Last 15 March, the SEC issued SEC Memorandum Circular 2, Series of 2023, or the grant for non-filing and late filing of the General Information Sheet or GIS and Annual Financial Statements or AFS, and non-compliance with Memorandum Circular 28, Series of 2020 or MC 28. The amnesty, which comes in the form of a waiver or reduction of fees, is part of the Commission’s efforts to encourage its regulated entities to comply with their reportorial requirements under Republic Act 11232 or the Revised Corporation Code. Around 40,000 corporations have since completed their amnesty application with the SEC, allowing them to reclaim their good standing or corporate registration with the SEC. “The SEC Amnesty Program is a chance for corporations and associations to get a fresh start in their compliance with reportorial requirements, so they continue to enjoy the benefits and privileges of being a registered corporation,” Aquino said. Condonation streamlined To make the process simpler, the SEC streamlined the amnesty application process to encourage more corporations to avail of the program. Corporations now need only answer a web-based form available on their Electronic Filing and Submission Tool or eFAST accounts, replacing the submission of the notarized Expression of Interest Form and Amnesty Application Form. Likewise, corporations no longer need to file an undertaking to submit the latest due AFS within 90 days from the amnesty application. The post Secure amnesty before fines hiked appeared first on Daily Tribune......»»
Expanding the Filipino footprint in the hospitality space
Seda Hotel is opening Seda Manila Bay, its 12th property in the Philippines, focusing on the Filipinos’ passion for providing the best hospitality service to guests. [caption id="attachment_172979" align="aligncenter" width="525"] bedroom suite.[/caption] Seda Manila Bay is located in Paranaque’s Entertainment City and offers 350 thoughtfully designed rooms, from Deluxe Rooms to Suites, ideal for business and family travel. Javier Hernandez, president and chief executive officer of AyalaLand Hotels and Resorts, expresses his enthusiasm for the newest property, stating, “We are proud to see Seda Hotels flourish and expand its footprint in the Philippines. Seda Manila Bay will continue the brand’s commitment to providing unparalleled Filipino hospitality and service at par with global standards.” The hotel’s unique design incorporates various leisure amenities that will delight all ages. These include a sprawling water playground with pool fountains and other fun features in the kids’ area; a Children’s Playroom with developmental toys, arts and crafts, and learning activities for young ones; and a Game Room outfitted with gaming consoles. For those seeking relaxation and rejuvenation, the Seda Spa is a wellness retreat with private massage rooms, while the gym provides cutting-edge fitness equipment. Opening soon is a mini-golf area, providing even more ways for guests to unwind and have fun during their stay. General manager Jeffrey Enriquez adds that Seda Manila Bay features a ballroom for up to 350 attendees and smaller meeting rooms capable of offering flexible and creative solutions to suit different event needs in the city. “Guests can also expect a diverse and flavorful dining experience at Seda’s signature outlets, Misto restaurant, which serves a medley of international and local dishes, and very soon, Straight Up rooftop bar — perfect for catching the world-famous Manila Bay sunset,” Enriquez says. Seda Manila Bay boasts exceptional positioning in the area, offering a unique combination of business and recreational facilities and amenities ideal for corporate, leisure or family travel. The hotel’s location is also conveniently accessible, being only 15 minutes away from the Ninoy Aquino International Airport and a short 30-minute drive to the bustling CBDs of Makati and BGC. Hernandez adds that for Seda, the benchmark for success is not about the brand’s aggressive expansion in terms of room inventory but rather a focus on product quality. He says, “For this reason, the brand has been consistently recognized for its commitment to excellence, winning the “Philippines’ Leading Hotel Group” award in the UK-based World Travel Awards for nine consecutive years, owing to its dedication to providing superior products and services.” Seda Manila Bay presents an all-encompassing haven, setting a new standard for remarkable stays in Paranaque’s Entertainment City. The post Expanding the Filipino footprint in the hospitality space appeared first on Daily Tribune......»»
‘Dirty Linen’ down to its last 2 scorching weeks
Was Dolly de Leon invited to the final media conference on Wednesday afternoon, 16 August, for the ABS-CBN series Dirty Linen, but her schedule of local commitments prevented her from accepting the invite? Or did the production decide not to have her around because she would steal the limelight from all the show’s stars even without trying? [caption id="attachment_172737" align="aligncenter" width="843"] Dolly de Leon. | Photograph Courtesy Of Ig/Dolly De Leon.[/caption] The media huddle was held just two days after De Leon walked off with a Balanghai trophy as Best Supporting Actress at the Cinemalaya 2023 for her portrayal of a loving mother to a speech-deprived son in Iti Mapukpukaw, an Ilocano animated film which also won Best Picture in the festival. It was De Leon’s second Philippine award, but the first ever she received personally. The first one was from the Famas in a digital awards in 2021 for her work in Verdict. It was also for Best Supporting Actress, and the Best Actress winner then was Janine Gutierrez for Babae at Baril, which had also won for her Best Actress from the Urian of the critics group Manunuri ng Pelikulang Pilipino. Gutierrez topbills Dirty Linen. The death of Olivia, the mistress-household help character portrayed by De Leon in the grandiosely and glamorously ruthless series, is what ignited the intensely engaging revenge drama that is slated to end in two weeks. It was a special guest role De Leon breezed through soon after her breakthrough appearance in Triangle of Sadness, which landed her at the Cannes International Film Festival, unarguably the most prestigious film festival in the world. Her character’s death in Dirty Linen became a big deal only because it led to the killing of some other members of the household staff who had the bad luck of seeing Olivia’s corpse in the living room before it was dragged into a nearby pit. They were all servants of the Fierros, an evil wealthy family in some provincial town. The family is headed by fierce matriarch Doña Cielo (Tessie Tomas), with her only son Carlos (John Arcilla) and Carlos’ son Aidan (Zanjoe Marudo). Angel Aquino portrays Feliz, the unwanted and unhappy daughter of the Fieros, while Janice de Belen is Leona, the cold-blooded wife of Carlos and mother of their two children, one of whom is the daughter portrayed by young star Francine Diaz. Epy Quizon portrays Ador, the husband of Feliz whose desire to give her and their two children (Xyriel Manabat and Raven Rigor) a well-off life that could somehow match that of the Fierros led him to keeping a secret pornography business that Mila discovers and exposes during a party meant to honor Doña Cielo. Christian Bables plays a digital expert who can hack any digital system as part of the revenge plot. Changing the landscape De Leon was once quoted in an interview as saying that Dirty Linen is “changing the landscape of Philippine television.” Tomas, who was at the media huddle at Studio 10 of ABS-CBN, declared that Dirty Linen is the best show she has ever been. Though more famous in her younger years as a stand-up comedian who parodied weird well-off women, Tomas is indeed a veteran of TV shows in varying genres. Gutierrez did her best not to cry in gratefulness for the opportunity of topbilling what seems to be ABS-CBN’s most expensive drama series. The Fierro mansion is a triumph in opulent production design, since the location is not a residence but the refashioned clubhouse of Summit Point, a popular golf and country club in Lipa City, Batangas — a project of Sta. Lucia Land Inc. The show’s production designer is Nancy Arcega, who’s been at her work for over 30 years now. It’s hard to argue against claims that Dirty Linen is the best Filipino-produced drama series in the country so far. But for us, personally, it is so far the series that has the most sordid storyline and characters. Practically everyone is evil in varying degrees. And Pinoys love it, for better or for worse. ABS-CBN says the series has gone over a billion views since it was launched on several platforms in January this year. Almost all the major cast members of the series turned up at the media huddle. Only Jenica Garcia, Andrea del Rosario and Soliman Cruz were not there. The post ‘Dirty Linen’ down to its last 2 scorching weeks appeared first on Daily Tribune......»»
Chinese business man caught with drugs at NAIA
A Chinese businessman was arrested at the Ninoy Aquino International Airport (NAIA) Terminal 3 on Thursday after he was caught by security officers carrying five grams of shabu with a street value of P34,000......»»