Gokongwei buys thrift bank in Bocol, to do microfinance
GOKONGWEI-LED Robinsons Bank Corp. (Robinsons Bank) has purchased a
controlling stake in a Legazpi City-based thrift bank as it executes a
plan to gain a stronger presence in the highly competitive commercial
banking industry.
In an e-mail to BusinessWorld, Robinsons Bank -- the country's 28th
largest bank in terms of assets -- said it secured last Dec. 26 the
Monetary Board's green light to acquire "a controlling interest" in
Legazpi Savings Bank.
Legazpi Savings Bank, which had assets amounting P2 billion as of
September, was majority owned by Albay Representative Al Francis C.
Bichara. The bank has 11 branches in the Bicol Region.
"Robinsons Bank plans to utilize the capacity and branch network of
Legazpi Savings Bank as its vehicle to engage in countryside banking and
microfinance lending," Robinsons Bank President and Chief Executive
Officer Reynold Y. Gerongay said in the e-mail.
He declined to disclose the acquisition price.
Robinsons Bank extends microfinance loans through "SUPERLoan ng Bayan,"
a microfinance program targeting small- and medium-scale entrepreneurs.
The acquisition, Mr. Gerongay said, will give Robinsons Bank the
opportunity to boost its microfinance business and to strengthen and
expand its presence in the Bicol Region.
Legazpi Savings Bank extends "barangay business" loans and "market
vendors" loans, among other loan products, according to its website.
Robinsons Bank booked a net income of P353.5 million as of September, up
23.34% from the P286.6 million recorded in the same period last year,
due to hefty trading gains.
Banks are now training their sights on small and medium enterprises amid
low income growth from corporate lending and highly variable gains from
trading.
Robinsons Bank is a subsidiary of listed JG Summit Holdings, Inc. It
used to be a thrift bank until it purchased the Royal Bank of Scotland
(Philippines) from The Royal Bank of Scotland Plc and the Royal Bank of
Scotland N.V. through a share purchase agreement in February 2010.
A commercial banking license and several branches came with the
purchase, which was approved by the central bank and the Securities and
Exchange Commission on Dec. 9, 2010 and on May 25, 2011, respectively.
Lance Y. Gokongwei, Robinsons Bank chairman, in the same e-mail
concurred with Mr. Gerongay saying: "[Our] investment in Legazpi Savings
Bank is part of our plans to reach out to a wider market. Robinsons Bank
Corp. and JG Summit Holdings are always on the lookout for viable
opportunities for growth, and this investment shows our commitment to
being a strategic player in the industry."
For his part, Mr. Bichara, in the same e-mail, said: "We highly welcome
this investment by Robinsons Bank. It is good to know that Legazpi
Savings Bank will now be part of a big conglomerate to the benefit of
businesses and people in Albay as well as neighboring provinces in the
Bicol region."
Mr. Gerongay said the name of Legazpi Savings Bank will be retained as
the savings bank has a "good franchise" in Bicol.
Since the acquisition was under the Bangko Sentral and the Philippine
Deposit Insurance Corp.'s (PDIC) Strengthening Program for Rural Banks
Plus program, Robinsons Bank will be allowed to put up branches in
restricted areas in Metro Manila.
SPRB Plus program, is an enhancement of SPRB, a P5-billion program
initiated by the central bank and the PDIC in August 2010 to encourage
healthy rural banks to come to the aid of troubled peers. Under the new
program, universal and commercial banks may take over ailing rural or
thrift banks.
Asked if Robinsons Bank will add more branches to Legazpi Savings Bank,
Mr. Gerongay answered, "We'll do a lot of housekeeping first."
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CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Friday, December 28, 2012
Households Remain Prime Savers – BSP
Households Remain Prime Savers – BSP
By LEE C. CHIPONGIAN
December 27, 2012, 4:48pm
The Bangko Sentral ng Pilipinas (BSP) said the household sector remains
to be the prime saver in the economy for the last four years, partly
because of foreign exchange remittances and perception of improved labor
conditions.
In its latest flow of funds (FOF) data for 2011, the BSP reported that
the household sector registered savings of P909.8 billion or an increase
of 6.3 percent over 2010 figures. The BSP said this rate of savings
growth may be attributed to inflows from funds sent home by overseas
Filipinos.
Last year, the total domestic savings went up 6.8 percent to P1.854
trillion. "The economy's savings momentum is sustained, notwithstanding
challenges on the external front," noted the BSP.
The second biggest savers in the economy are the non-financial
corporations sector with P672.5 billion, mainly profits from the
services sectors.
The general government sector, in the meantime posted the highest growth
in savings at 65.3 percent at P193.6 billion while the National
Government's (NG) position reversed from a "dissaving" of P17.6 billion
in 2010 to a savings of P28.8 billion in 2011, the BSP reported.
As for the financial sector's savings, this dropped to P78.4 billion
because of "large benefit payments" by the life insurance industry along
with the higher interest payments by the BSP.
The FOF as reported by the central bank is a summary of financial
transactions among the different institutions of the economy, and
between these institutions and the rest of the world. It identifies
which institutions are net borrowers and net lenders after a series of
financial transactions for the year. There are four categories:
financial corporations, non-financial corporations, the general
government, and the households.
In 2011, the economy's capital accumulation grew by 16.2 percent to
P1.544 trillion. The household sector was the biggest accumulator of
capital at P661.4 billion but sector's real investments grew only 12
percent compared to 2010's 31.1 percent because of the lower demand for
residential condominiums.
The non-financial corporations sector's real investments in the meantime
increased 53.2 percent which the BSP described as a "mixed investment
sentiments across sub-sectors." The growth of private companies' real
investments slowed down to 9.4 percent from 72.9 percent due to weak
global economic growth.
The BSP also said that in 2011, all sectors were considered net lenders,
except for the general government.
"The household sector regained the top net lender position at P248.4
billion, with currency and deposits as the desired form of asset
accumulation (while) the non-financial corporation sector's net fund
provision fell by 70.8 percent to P79.7 billion, with accounts
receivables as the dominant financial instrument," the report said.
The financial sector's net lending grew by 19.9 percent to P38.1 billion
as the combined increase in net lending of banks and the insurance
sector outweighed the BSP's net borrowing, said the central bank.
The domestic economy's net lending vis-à-vis the rest of the world on
the other hand, fell by 23.9 percent to P309.5 billion. The BSP said
this is as "growth in capital accumulation outpaced the growth in total
savings."5:17 AM 12/28/2012
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By LEE C. CHIPONGIAN
December 27, 2012, 4:48pm
The Bangko Sentral ng Pilipinas (BSP) said the household sector remains
to be the prime saver in the economy for the last four years, partly
because of foreign exchange remittances and perception of improved labor
conditions.
In its latest flow of funds (FOF) data for 2011, the BSP reported that
the household sector registered savings of P909.8 billion or an increase
of 6.3 percent over 2010 figures. The BSP said this rate of savings
growth may be attributed to inflows from funds sent home by overseas
Filipinos.
Last year, the total domestic savings went up 6.8 percent to P1.854
trillion. "The economy's savings momentum is sustained, notwithstanding
challenges on the external front," noted the BSP.
The second biggest savers in the economy are the non-financial
corporations sector with P672.5 billion, mainly profits from the
services sectors.
The general government sector, in the meantime posted the highest growth
in savings at 65.3 percent at P193.6 billion while the National
Government's (NG) position reversed from a "dissaving" of P17.6 billion
in 2010 to a savings of P28.8 billion in 2011, the BSP reported.
As for the financial sector's savings, this dropped to P78.4 billion
because of "large benefit payments" by the life insurance industry along
with the higher interest payments by the BSP.
The FOF as reported by the central bank is a summary of financial
transactions among the different institutions of the economy, and
between these institutions and the rest of the world. It identifies
which institutions are net borrowers and net lenders after a series of
financial transactions for the year. There are four categories:
financial corporations, non-financial corporations, the general
government, and the households.
In 2011, the economy's capital accumulation grew by 16.2 percent to
P1.544 trillion. The household sector was the biggest accumulator of
capital at P661.4 billion but sector's real investments grew only 12
percent compared to 2010's 31.1 percent because of the lower demand for
residential condominiums.
The non-financial corporations sector's real investments in the meantime
increased 53.2 percent which the BSP described as a "mixed investment
sentiments across sub-sectors." The growth of private companies' real
investments slowed down to 9.4 percent from 72.9 percent due to weak
global economic growth.
The BSP also said that in 2011, all sectors were considered net lenders,
except for the general government.
"The household sector regained the top net lender position at P248.4
billion, with currency and deposits as the desired form of asset
accumulation (while) the non-financial corporation sector's net fund
provision fell by 70.8 percent to P79.7 billion, with accounts
receivables as the dominant financial instrument," the report said.
The financial sector's net lending grew by 19.9 percent to P38.1 billion
as the combined increase in net lending of banks and the insurance
sector outweighed the BSP's net borrowing, said the central bank.
The domestic economy's net lending vis-à-vis the rest of the world on
the other hand, fell by 23.9 percent to P309.5 billion. The BSP said
this is as "growth in capital accumulation outpaced the growth in total
savings."5:17 AM 12/28/2012
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Monday, December 17, 2012
BSP: Fewer households allot remittances for savings
BSP: Fewer households allot remittances for savings
By Michelle V. Remo
Philippine Daily Inquirer
3:02 am | Monday, December 17th, 2012
The proportion of Filipino households that set aside remittances for
savings and investments dropped in the fourth quarter from a year ago,
highlighting the need to provide financial education to more people in
the country.
The Bangko Sentral ng Pilipinas said that households dependent on
remittances would need to learn how to save and invest the money they
receive to secure their future and stimulate growth of the economy.
Results of the latest quarterly BSP survey showed that only 39.5 percent
of respondents said they used a portion of their money for savings. This
marked a drop from the 42.6 percent recorded in the same period last year.
Still, the fourth-quarter figure was better than the 36.8 percent
recorded in the previous survey three months ago.
Results also showed that respondents who said they used a portion of
their money for investments settled at just 3.1 percent.
This represented a decline from the 6.4 percent registered a year ago,
and the 4.9 percent of the previous quarter.
The survey was conducted in the first two weeks of October and had a
sample of size of 478 households that regularly receive money from abroad.
The drop in the number of households that save up and invest the money
received coincided with the current low-interest-rate environment, which
led to shrinking yields on bank deposits and portfolio investments.
Economists said that in times of low interest rates, people tend to
spend more of their money rather than save up or invest in fixed-income
securities.
BSP Deputy Governor Diwa Guinigundo earlier said that if OFW households
were to use their money to put up their own businesses, the multiplier
effect of remittances on the economy would be much bigger. This is
because, when one puts up a business, even a small one, he or she will
create jobs.
At least 10 million Filipinos are estimated to be working overseas.
Their remittances amounted to $20.1 billion last year. The World Bank
expects remittances to the Philippines to rise to $24 billion this year,
making it the third-biggest recipient next to India and China, with $70
billion and $66 billion, respectively.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By Michelle V. Remo
Philippine Daily Inquirer
3:02 am | Monday, December 17th, 2012
The proportion of Filipino households that set aside remittances for
savings and investments dropped in the fourth quarter from a year ago,
highlighting the need to provide financial education to more people in
the country.
The Bangko Sentral ng Pilipinas said that households dependent on
remittances would need to learn how to save and invest the money they
receive to secure their future and stimulate growth of the economy.
Results of the latest quarterly BSP survey showed that only 39.5 percent
of respondents said they used a portion of their money for savings. This
marked a drop from the 42.6 percent recorded in the same period last year.
Still, the fourth-quarter figure was better than the 36.8 percent
recorded in the previous survey three months ago.
Results also showed that respondents who said they used a portion of
their money for investments settled at just 3.1 percent.
This represented a decline from the 6.4 percent registered a year ago,
and the 4.9 percent of the previous quarter.
The survey was conducted in the first two weeks of October and had a
sample of size of 478 households that regularly receive money from abroad.
The drop in the number of households that save up and invest the money
received coincided with the current low-interest-rate environment, which
led to shrinking yields on bank deposits and portfolio investments.
Economists said that in times of low interest rates, people tend to
spend more of their money rather than save up or invest in fixed-income
securities.
BSP Deputy Governor Diwa Guinigundo earlier said that if OFW households
were to use their money to put up their own businesses, the multiplier
effect of remittances on the economy would be much bigger. This is
because, when one puts up a business, even a small one, he or she will
create jobs.
At least 10 million Filipinos are estimated to be working overseas.
Their remittances amounted to $20.1 billion last year. The World Bank
expects remittances to the Philippines to rise to $24 billion this year,
making it the third-biggest recipient next to India and China, with $70
billion and $66 billion, respectively.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Most OFW families spend remittances on food – BSP
Most OFW families spend remittances on food – BSP
Published on 17 December 2012 Hits: 145 Written by RAADEE S. SAUSA
Of the 478 households that received overseas Filipino workers (OFW)
remittances in fourth quarter 2012, 95.4 percent used them for food,
according to the latest Consumer Expectations Survey (CES) of the Bangko
Sentral ng Pilipinas (BSP).
The central bank said over the weekend that almost 70 percent of the
households (68.8 percent) surveyed allocated their remittances for
education, 65.5 percent for medical payments and 44.1 percent for debt
payments.
Rosabel Guerrero, director of the BSP-Department of Economic Statistics
said that "the percentage of OFW households that utilized their
remittances for savings increased to 39.5 percent [from 36.8 percent in
third quarter 2012], while those that apportioned part of their
remittances for investment [i.e., business capital or stocks] declined
to 3.1 percent [from 4.9 percent in third quarter 2012 survey]."
"Also, the percentage that utilized part of their remittances to
purchase consumer durables, houses and lots, and motor vehicles
decreased compared to the previous quarter's results," she added.
However, the survey further noted that consumers had a more favorable
view on the employment situation as the unemployment rate index dropped
to 40.7 percent from 46.8 percent in third quarter 2012.
Guerrero added that fewer respondents expected interest rates and prices
to go up in the next 12 months.
"Respondents anticipated inflation to decline to 7 percent from 7.5
percent in third quarter 2012, reflecting their outlook of more stable
prices for the next quarter and the year ahead. These are consistent
with the declining trend in inflation figures for fourth quarter 2012
relative to third quarter 2012," she said.
Meanwhile, BSP added that consumers anticipate that the peso would
continue to appreciate against the US dollar in the year ahead, in line
with expectations of continued strong inflows of foreign exchange from
foreign direct and portfolio investments and business process
outsourcing services.
For fourth quarter 2012, the CES was conducted during the period October
1 to 12, 2012 with a total sample size of 5,789 households, of which
2,961 (51.1 percent) were from the National Capital Region (Metro
Manila) and 2,828 (48.9 percent) from the areas outside the NCR.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Published on 17 December 2012 Hits: 145 Written by RAADEE S. SAUSA
Of the 478 households that received overseas Filipino workers (OFW)
remittances in fourth quarter 2012, 95.4 percent used them for food,
according to the latest Consumer Expectations Survey (CES) of the Bangko
Sentral ng Pilipinas (BSP).
The central bank said over the weekend that almost 70 percent of the
households (68.8 percent) surveyed allocated their remittances for
education, 65.5 percent for medical payments and 44.1 percent for debt
payments.
Rosabel Guerrero, director of the BSP-Department of Economic Statistics
said that "the percentage of OFW households that utilized their
remittances for savings increased to 39.5 percent [from 36.8 percent in
third quarter 2012], while those that apportioned part of their
remittances for investment [i.e., business capital or stocks] declined
to 3.1 percent [from 4.9 percent in third quarter 2012 survey]."
"Also, the percentage that utilized part of their remittances to
purchase consumer durables, houses and lots, and motor vehicles
decreased compared to the previous quarter's results," she added.
However, the survey further noted that consumers had a more favorable
view on the employment situation as the unemployment rate index dropped
to 40.7 percent from 46.8 percent in third quarter 2012.
Guerrero added that fewer respondents expected interest rates and prices
to go up in the next 12 months.
"Respondents anticipated inflation to decline to 7 percent from 7.5
percent in third quarter 2012, reflecting their outlook of more stable
prices for the next quarter and the year ahead. These are consistent
with the declining trend in inflation figures for fourth quarter 2012
relative to third quarter 2012," she said.
Meanwhile, BSP added that consumers anticipate that the peso would
continue to appreciate against the US dollar in the year ahead, in line
with expectations of continued strong inflows of foreign exchange from
foreign direct and portfolio investments and business process
outsourcing services.
For fourth quarter 2012, the CES was conducted during the period October
1 to 12, 2012 with a total sample size of 5,789 households, of which
2,961 (51.1 percent) were from the National Capital Region (Metro
Manila) and 2,828 (48.9 percent) from the areas outside the NCR.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Wednesday, December 12, 2012
PH gets addt'l $100-M from WB for CCT program
PH gets addt'l $100-M from WB for CCT program
ABS-CBNnews.com
Posted at 12/12/2012 12:24 PM | Updated as of 12/12/2012 12:25 PM
MANILA, Philippines - The World Bank has extended an additional $100
million for the Philippines' conditional cash transfer (CCT) program.
"Close to 200,000 more poor households will have cash incentives to keep
their children in school and in good health with the approval today of
the $100 million additional financing for the Philippines' conditional
cash transfer program," World Bank said in a statement on Wednesday.
Around 3 million Filipino households receive subsidies from the CCT
program dubbed as Pantawid Pamilya, which is part of the Department of
Social Welfare and Development's (DSWD) social welfare and development
reform project.
Families included in the Pantawid Pamilya are to keep their children
ages 0 to 14 in school and to bring them to health clinics for regular
check-ups. Pregnant women are also asked to get proper pre-natal and
post-natal care, with their deliveries expected to be attended by health
professionals.
"International experience shows that CCT contributes towards reducing
inequality. Combined with high and sustained economic growth, CCT as a
form of social safety net provides an equitable foundation for inclusive
growth - growth that works for the poor," Motoo Konishi, WB country
director for the Philippines, said in a statement.
"Over 30 countries worldwide are implementing CCT programs. These kinds
of initiatives are among the fastest growing social safety net programs
in the world today," he added.
DSWD Secretary Corazon "Dinky" Soliman, for her part, welcomed the
additional financing for the CCT program.
"The additional financing for Pantawid Pamilya will enable us to expand
the program and include more poor households who are vulnerable and
marginalized. Pantawid Pamilya helps poor households meet their
immediate needs including food, but it's also our society's investment
in the education and health of our children," she said in the statement.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
ABS-CBNnews.com
Posted at 12/12/2012 12:24 PM | Updated as of 12/12/2012 12:25 PM
MANILA, Philippines - The World Bank has extended an additional $100
million for the Philippines' conditional cash transfer (CCT) program.
"Close to 200,000 more poor households will have cash incentives to keep
their children in school and in good health with the approval today of
the $100 million additional financing for the Philippines' conditional
cash transfer program," World Bank said in a statement on Wednesday.
Around 3 million Filipino households receive subsidies from the CCT
program dubbed as Pantawid Pamilya, which is part of the Department of
Social Welfare and Development's (DSWD) social welfare and development
reform project.
Families included in the Pantawid Pamilya are to keep their children
ages 0 to 14 in school and to bring them to health clinics for regular
check-ups. Pregnant women are also asked to get proper pre-natal and
post-natal care, with their deliveries expected to be attended by health
professionals.
"International experience shows that CCT contributes towards reducing
inequality. Combined with high and sustained economic growth, CCT as a
form of social safety net provides an equitable foundation for inclusive
growth - growth that works for the poor," Motoo Konishi, WB country
director for the Philippines, said in a statement.
"Over 30 countries worldwide are implementing CCT programs. These kinds
of initiatives are among the fastest growing social safety net programs
in the world today," he added.
DSWD Secretary Corazon "Dinky" Soliman, for her part, welcomed the
additional financing for the CCT program.
"The additional financing for Pantawid Pamilya will enable us to expand
the program and include more poor households who are vulnerable and
marginalized. Pantawid Pamilya helps poor households meet their
immediate needs including food, but it's also our society's investment
in the education and health of our children," she said in the statement.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
CRS to launch marketing project for Mindanao farmers
CRS to launch marketing project for Mindanao farmers
Thursday, June 7, 2012
THE Catholic Relief Services (CRS) will launch Friday a three-year
resource strengthening and marketing project to benefit 32,000 farmers
in seven provinces in Mindanao.
The implementation of the "Farmer Alliances for Resource Strengthening
and Marketing" or Farm project of CRS will have its formal start on the
said date at the Apo View Hotel this city.
With funding from the United States Department of Agriculture (USDA),
Farm will assist its target farmer-beneficiaries in the provinces of
Misamis Oriental, North Cotabato, Maguindanao, Sultan Kudarat,
Sarangani, Davao del Sur, and Bukidnon.
Ryan Russell, CRS head of office, said the project intends to increase
agricultural production in rice, cacao, coffee and vegetables; enable
access to small rural infrastructures; and enhance linkages to greater
market opportunities.
CRS will implement the project with local NGO partners, academic
institutions, micro-finance institutions, and government line agencies,
Russell stated.
At the launching, there will be a Memoranda of Agreement (MOA) signing
involving CRS and eight sub-recipient agencies from the non-government
organizations and academe that will serve as direct implementing
partners for the Farm project.
The expected guests at the event are the following: Rene Guarin, CRS
program manager for operations; Joseph Curry, CRS country
representative; Philip Shull, USDA agricultural counselor; and Pedro
Terry Tuason III, CRS senior program manager.
Senator Francis Pangilinan and officials from the Department of
Agriculture (DA), Department of Agrarian Reform (DAR), Mindanao
Development Authority (MinDA) and the National Livelihood Development
Corp. (NLDC) are also expected to grace the event.
Partner NGOs and private firms such as Nestle Philippines, MARS
Chocolate, and the Agricultural Cooperative Development
International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA)
are also part of the launching.
According to its primer, CRS is the international humanitarian agency of
the Catholic community in the United States that provides assistance to
people in more than 100 countries and territories based on need,
regardless of race and nationality or creed.
CRS has been in the Philippines since 1945. (PIA)
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Thursday, June 7, 2012
THE Catholic Relief Services (CRS) will launch Friday a three-year
resource strengthening and marketing project to benefit 32,000 farmers
in seven provinces in Mindanao.
The implementation of the "Farmer Alliances for Resource Strengthening
and Marketing" or Farm project of CRS will have its formal start on the
said date at the Apo View Hotel this city.
With funding from the United States Department of Agriculture (USDA),
Farm will assist its target farmer-beneficiaries in the provinces of
Misamis Oriental, North Cotabato, Maguindanao, Sultan Kudarat,
Sarangani, Davao del Sur, and Bukidnon.
Ryan Russell, CRS head of office, said the project intends to increase
agricultural production in rice, cacao, coffee and vegetables; enable
access to small rural infrastructures; and enhance linkages to greater
market opportunities.
CRS will implement the project with local NGO partners, academic
institutions, micro-finance institutions, and government line agencies,
Russell stated.
At the launching, there will be a Memoranda of Agreement (MOA) signing
involving CRS and eight sub-recipient agencies from the non-government
organizations and academe that will serve as direct implementing
partners for the Farm project.
The expected guests at the event are the following: Rene Guarin, CRS
program manager for operations; Joseph Curry, CRS country
representative; Philip Shull, USDA agricultural counselor; and Pedro
Terry Tuason III, CRS senior program manager.
Senator Francis Pangilinan and officials from the Department of
Agriculture (DA), Department of Agrarian Reform (DAR), Mindanao
Development Authority (MinDA) and the National Livelihood Development
Corp. (NLDC) are also expected to grace the event.
Partner NGOs and private firms such as Nestle Philippines, MARS
Chocolate, and the Agricultural Cooperative Development
International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA)
are also part of the launching.
According to its primer, CRS is the international humanitarian agency of
the Catholic community in the United States that provides assistance to
people in more than 100 countries and territories based on need,
regardless of race and nationality or creed.
CRS has been in the Philippines since 1945. (PIA)
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Tuesday, December 11, 2012
PHL must sustain 6% to 8% growth for a decade to eradicate poverty
PHL must sustain 6% to 8% growth for a decade to eradicate poverty
Published on Monday, 10 December 2012 20:50 Written by Butch Fernandez /
Reporter
SEN. Francis Pangilinan on Monday underscored the need for "inclusive
and sustainable growth" as the Aquino administration continues to rally
support for good governance and fiscal measures, buoyed by the
7.1-percent growth in the third quarter of 2012.
"While there is cause for us to be thankful for the 7.1-percent growth
experienced in the third quarter, we must be mindful that we have been
there before," Pangilinan said even as he added that "more than simply
reaching such growth rates from time to time is the question of
sustaining it."
In a statement, the senator acknowledged the elation of administration
officials following reports that the resurgent economy was recently
recorded as the second-fastest growing in Asia next only to China, which
grew by 7.7 percent in the third quarter of 2012.
Pangilinan said that the growth was fueled by "the robust performances
of transport, storage and communication, financial intermediation and
real estate."
The business-process outsourcing, manufacturing, construction and
agriculture industries also contributed largely to this growth, coupled
with higher remittances from overseas Filipino workers and increased
domestic consumption, he added.
The senator suggested that the country needs "at least a decade of
6-percent to 8-percent growth to truly eradicate poverty."
"To do this we must create jobs here at home and increase incomes of the
poorest of the poor in key sectors such as agriculture, tourism and
infrastructure. Only then can we ensure growth that is both inclusive
and sustainable," he said.
Pangilinan chairs the Senate Committees on Agriculture and Food, and
Social Justice, Welfare, and Rural Development which is crafting
remedial legislation that would pave the way for increased investments
in agriculture and social safety nets for farmers, fisherfolk, and
marginalized workers "in order to increase incomes and improve the
overall quality of life for millions of Filipinos," he added.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Published on Monday, 10 December 2012 20:50 Written by Butch Fernandez /
Reporter
SEN. Francis Pangilinan on Monday underscored the need for "inclusive
and sustainable growth" as the Aquino administration continues to rally
support for good governance and fiscal measures, buoyed by the
7.1-percent growth in the third quarter of 2012.
"While there is cause for us to be thankful for the 7.1-percent growth
experienced in the third quarter, we must be mindful that we have been
there before," Pangilinan said even as he added that "more than simply
reaching such growth rates from time to time is the question of
sustaining it."
In a statement, the senator acknowledged the elation of administration
officials following reports that the resurgent economy was recently
recorded as the second-fastest growing in Asia next only to China, which
grew by 7.7 percent in the third quarter of 2012.
Pangilinan said that the growth was fueled by "the robust performances
of transport, storage and communication, financial intermediation and
real estate."
The business-process outsourcing, manufacturing, construction and
agriculture industries also contributed largely to this growth, coupled
with higher remittances from overseas Filipino workers and increased
domestic consumption, he added.
The senator suggested that the country needs "at least a decade of
6-percent to 8-percent growth to truly eradicate poverty."
"To do this we must create jobs here at home and increase incomes of the
poorest of the poor in key sectors such as agriculture, tourism and
infrastructure. Only then can we ensure growth that is both inclusive
and sustainable," he said.
Pangilinan chairs the Senate Committees on Agriculture and Food, and
Social Justice, Welfare, and Rural Development which is crafting
remedial legislation that would pave the way for increased investments
in agriculture and social safety nets for farmers, fisherfolk, and
marginalized workers "in order to increase incomes and improve the
overall quality of life for millions of Filipinos," he added.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Sunday, December 2, 2012
Why do many go to pawnshops more than banks?
Why do many go to pawnshops more than banks?
By Michelle V. Remo
6:52 pm | Saturday, December 1st, 2012
CEBUANA Lhuillier has a branch on Chino Roces Avenue. PHOTO BY EDWIN
BELLOSILLO
For many Filipinos, pawning jewelry at a neighborhood pawnshop has been
the most common and quickest way to address an urgent need for
relatively small amounts of cash.
Compared with banks, pawnshops do not impose as many documentary
requirements before releasing cash to customers. Moreover, the latter
are more accessible, as they may be found even in remote areas where
banks do not operate.
But despite the essential role these financial-service providers play,
pawnshops still suffer from a bad reputation of preying on middle- and
low-income Filipinos. The perception remains that pawnshops have a
tendency to take advantage of people in need of cash through
profiteering, and that many of them are fly-by-night operators that
steal pawned jewelry.
The Bangko Sentral ng Pilipinas, which has a division dedicated to
regulating pawnshops, agrees that the pawnshop industry continues to
suffer a stigma. It admits that it receives complaints involving
pawnshops from time to time, usually in terms of operators that suddenly
disappear without notifying customers about how they could get their
pawned assets back.
The BSP, however, says the proportion of erring pawnshops to the total
number of industry players is miniscule. Ma. Belinda Caraan,
officer-in-charge of the central bank's integrated supervision
department, says the number of pawnshop branches that have been the
subject of complaints is equivalent to less than 5 percent of the
industry's network.
The pawnshop industry has a network of nearly 17,000, which include head
offices and branches. Of the number, about 10,000 are engaged solely in
the pawning business. The rest also operate auxiliary businesses, such
as money changing, remittance facilitation, and bills payment facilitation.
MOA with LGUs
"Until now, there is still the negative view that pawnshops prey on
consumers. We want to help the industry change its image," Caraan tells
SundayBiz.
To do the task, Caraan says, the BSP is intensifying its coordination
with local government units (LGUs) as far as monitoring pawnshops is
concerned.
She says that under a recently updated memorandum of agreement (MOA)
between the central bank and the Department of the Interior on Local
Government (DILG), the two government institutions shall engage in
information sharing for the purpose of better regulation of pawnshops.
Caraan says constant enhancement of regulation, with the aim of bringing
down the number of erring or fraudulent pawnshops to almost zero, will
help improve the public image of the pawnshop industry.
In one of the central bank's latest initiatives, its representatives,
with assistance from LGUs, conducts random visits of pawnshops all over
the country. The BSP targets to cover 500 pawnshops until 2015, and an
even larger number in the succeeding years.
In the spot visits, Caraan says, BSP representatives check if a pawnshop
is duly registered and if it complies with various regulations.
Caraan says most of the pawnshops that have been the subject of
complaints are not registered businesses. She advises people planning to
pawn a property to first check the website of the BSP to see if the
pawnshop to be visited is registered.
Training
The BSP likewise holds training seminars for pawnshop operators and
their staff. She says such training is conducted at least once a month
by BSP personnel all over the country. The training covers a wide range
of topics, including ethical business behaviors, valuation of assets,
and detection of money-laundering activities, among others.
Training helps improve the manner of service delivery by pawnshops,
Caraan says.
"We like people to develop a positive view of pawnshops. We want the
public to perceive pawnshops not only as accessible, but as reliable and
trustworthy providers of financial services," Caraan says.
Service providers
Minda (not her real name), an employee at Palawan Pawnshop in
Mandaluyong City, says in a random interview with SundayBiz that
pawnshops must be perceived positively given the vital role they play in
meeting short-term financial needs of many Filipinos.
"For many Filipinos who are short of cash, pawning is the easiest way to
solve their problem. It is much easier to raise money through pawning
than securing a bank loan," she says in Filipino.
She says the pawnshop she works for receives between one and six
customers, mostly from the neighborhood, pawning jewelry in a day.
Janet, a mother in her 50s and who has been a pawnshop customer, says
pawning has been a reliable means to meet her immediate need for cash.
"For instance, if there is an urgent requirement for house repair and I
fall short of cash, all I have to do is visit the nearest pawnshop,"
Janet says. "It is not advisable to go to a bank and try meeting all its
requirements if what you need is just a small amount of money," she adds.
Expanded role
Because of their wide reach, pawnshops are identified by the BSP as
entities for "financial inclusion." The term refers to the act of making
various financial services (such as payment facilitation, remittance
facilitation, money changing, micro loans, and micro insurance)
accessible even to people in far-flung areas.
A study by the BSP released earlier this year said only two out of 10
Filipinos have bank accounts. The BSP said the information is an
indication that banking services are still mostly concentrated in urban
areas and are not reaching most Filipinos in rural communities.
Caraan says, however, that pawnshops are capable of filling the gap.
Unlike a bank, a pawnshop is much easier to put up. This is the reason
they are much bigger in number compared with banks. While there are
nearly 17,000 pawnshop head offices and branches in the country, there
are only about 9,000 bank head offices and branches.
The wider reach of pawnshops is largely credited to the ease in putting
them up. Compared with a bank, a pawnshop requires less space, less
staff, and needs much less capital (each pawnshop branch is required by
the BSP to have a capitalization of just P100,000), according to Caraan.
"There is a push for financial inclusion, and pawnshops are seen to help
achieve the goal of having more Filipinos access financial services,"
Caraan says.
Some of the auxiliary services that many pawnshops now offer include
remittances facilitation, money changing, and bills payment
facilitation. Moreover, a few also now serve as "cash in-cash out
centers" and offer mobile banking services.
Under the mobile banking concept, an individual may open an electronic
account with a "cash in-cash out center" (which may be a pawnshop) for a
measly amount, usually P100. To open an account, the individual fills
out a form with the cash in-cash out center and registers his cellular
phone number.
Once an account has been opened, the individual may place a deposit by
buying a "mobile phone load" from the cash in-cash out center. He will
then encode details of the "load" to his electronic account using his
cellular phone.
Moreover, an individual with a mobile banking account may also receive
money. If someone (who must also have a mobile banking account) sends
money to the recipient's account, the latter shall be notified through
text. The recipient may then go to a cash in-cash out center to get his
cash.
The BSP said that as the practice of mobile banking further develops,
the number of Filipinos that do not access financial services and that
do not have bank accounts is expected to diminish over the next few years.
Besides providing mobile banking services for low-income Filipinos,
Caraan says, pawnshops in the future may also provide other financial
services. With proper regulatory framework, the BSP believes there is
scope for pawnshops to also sell micro insurance and provide micro
credit, she says.
"They serve the important role of making financial services—and even
more kinds of such services in the future—reach the poor and those who
reside in remote areas. Indeed, pawnshops are important to the economy,"
Caraan says.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By Michelle V. Remo
6:52 pm | Saturday, December 1st, 2012
CEBUANA Lhuillier has a branch on Chino Roces Avenue. PHOTO BY EDWIN
BELLOSILLO
For many Filipinos, pawning jewelry at a neighborhood pawnshop has been
the most common and quickest way to address an urgent need for
relatively small amounts of cash.
Compared with banks, pawnshops do not impose as many documentary
requirements before releasing cash to customers. Moreover, the latter
are more accessible, as they may be found even in remote areas where
banks do not operate.
But despite the essential role these financial-service providers play,
pawnshops still suffer from a bad reputation of preying on middle- and
low-income Filipinos. The perception remains that pawnshops have a
tendency to take advantage of people in need of cash through
profiteering, and that many of them are fly-by-night operators that
steal pawned jewelry.
The Bangko Sentral ng Pilipinas, which has a division dedicated to
regulating pawnshops, agrees that the pawnshop industry continues to
suffer a stigma. It admits that it receives complaints involving
pawnshops from time to time, usually in terms of operators that suddenly
disappear without notifying customers about how they could get their
pawned assets back.
The BSP, however, says the proportion of erring pawnshops to the total
number of industry players is miniscule. Ma. Belinda Caraan,
officer-in-charge of the central bank's integrated supervision
department, says the number of pawnshop branches that have been the
subject of complaints is equivalent to less than 5 percent of the
industry's network.
The pawnshop industry has a network of nearly 17,000, which include head
offices and branches. Of the number, about 10,000 are engaged solely in
the pawning business. The rest also operate auxiliary businesses, such
as money changing, remittance facilitation, and bills payment facilitation.
MOA with LGUs
"Until now, there is still the negative view that pawnshops prey on
consumers. We want to help the industry change its image," Caraan tells
SundayBiz.
To do the task, Caraan says, the BSP is intensifying its coordination
with local government units (LGUs) as far as monitoring pawnshops is
concerned.
She says that under a recently updated memorandum of agreement (MOA)
between the central bank and the Department of the Interior on Local
Government (DILG), the two government institutions shall engage in
information sharing for the purpose of better regulation of pawnshops.
Caraan says constant enhancement of regulation, with the aim of bringing
down the number of erring or fraudulent pawnshops to almost zero, will
help improve the public image of the pawnshop industry.
In one of the central bank's latest initiatives, its representatives,
with assistance from LGUs, conducts random visits of pawnshops all over
the country. The BSP targets to cover 500 pawnshops until 2015, and an
even larger number in the succeeding years.
In the spot visits, Caraan says, BSP representatives check if a pawnshop
is duly registered and if it complies with various regulations.
Caraan says most of the pawnshops that have been the subject of
complaints are not registered businesses. She advises people planning to
pawn a property to first check the website of the BSP to see if the
pawnshop to be visited is registered.
Training
The BSP likewise holds training seminars for pawnshop operators and
their staff. She says such training is conducted at least once a month
by BSP personnel all over the country. The training covers a wide range
of topics, including ethical business behaviors, valuation of assets,
and detection of money-laundering activities, among others.
Training helps improve the manner of service delivery by pawnshops,
Caraan says.
"We like people to develop a positive view of pawnshops. We want the
public to perceive pawnshops not only as accessible, but as reliable and
trustworthy providers of financial services," Caraan says.
Service providers
Minda (not her real name), an employee at Palawan Pawnshop in
Mandaluyong City, says in a random interview with SundayBiz that
pawnshops must be perceived positively given the vital role they play in
meeting short-term financial needs of many Filipinos.
"For many Filipinos who are short of cash, pawning is the easiest way to
solve their problem. It is much easier to raise money through pawning
than securing a bank loan," she says in Filipino.
She says the pawnshop she works for receives between one and six
customers, mostly from the neighborhood, pawning jewelry in a day.
Janet, a mother in her 50s and who has been a pawnshop customer, says
pawning has been a reliable means to meet her immediate need for cash.
"For instance, if there is an urgent requirement for house repair and I
fall short of cash, all I have to do is visit the nearest pawnshop,"
Janet says. "It is not advisable to go to a bank and try meeting all its
requirements if what you need is just a small amount of money," she adds.
Expanded role
Because of their wide reach, pawnshops are identified by the BSP as
entities for "financial inclusion." The term refers to the act of making
various financial services (such as payment facilitation, remittance
facilitation, money changing, micro loans, and micro insurance)
accessible even to people in far-flung areas.
A study by the BSP released earlier this year said only two out of 10
Filipinos have bank accounts. The BSP said the information is an
indication that banking services are still mostly concentrated in urban
areas and are not reaching most Filipinos in rural communities.
Caraan says, however, that pawnshops are capable of filling the gap.
Unlike a bank, a pawnshop is much easier to put up. This is the reason
they are much bigger in number compared with banks. While there are
nearly 17,000 pawnshop head offices and branches in the country, there
are only about 9,000 bank head offices and branches.
The wider reach of pawnshops is largely credited to the ease in putting
them up. Compared with a bank, a pawnshop requires less space, less
staff, and needs much less capital (each pawnshop branch is required by
the BSP to have a capitalization of just P100,000), according to Caraan.
"There is a push for financial inclusion, and pawnshops are seen to help
achieve the goal of having more Filipinos access financial services,"
Caraan says.
Some of the auxiliary services that many pawnshops now offer include
remittances facilitation, money changing, and bills payment
facilitation. Moreover, a few also now serve as "cash in-cash out
centers" and offer mobile banking services.
Under the mobile banking concept, an individual may open an electronic
account with a "cash in-cash out center" (which may be a pawnshop) for a
measly amount, usually P100. To open an account, the individual fills
out a form with the cash in-cash out center and registers his cellular
phone number.
Once an account has been opened, the individual may place a deposit by
buying a "mobile phone load" from the cash in-cash out center. He will
then encode details of the "load" to his electronic account using his
cellular phone.
Moreover, an individual with a mobile banking account may also receive
money. If someone (who must also have a mobile banking account) sends
money to the recipient's account, the latter shall be notified through
text. The recipient may then go to a cash in-cash out center to get his
cash.
The BSP said that as the practice of mobile banking further develops,
the number of Filipinos that do not access financial services and that
do not have bank accounts is expected to diminish over the next few years.
Besides providing mobile banking services for low-income Filipinos,
Caraan says, pawnshops in the future may also provide other financial
services. With proper regulatory framework, the BSP believes there is
scope for pawnshops to also sell micro insurance and provide micro
credit, she says.
"They serve the important role of making financial services—and even
more kinds of such services in the future—reach the poor and those who
reside in remote areas. Indeed, pawnshops are important to the economy,"
Caraan says.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Thursday, November 29, 2012
Why Pinoys keep falling for investment scams
Why Pinoys keep falling for investment scams
by Cathy Rose A. Garcia, ABS-CBNnews.com
Posted at 11/26/2012 9:12 PM | Updated as of 11/27/2012 2:19 PM
MANILA, Philippines - When Aman Futures head Manuel Amalilio visited
Pagadian City for the first time in April, he promised to make the city
the financial center of the Philippines in a year and a half.
Improbable as Amalilio's promise sounded, it was still enough to
convince Pastor Hipolito Paner and members of the Christ the Lord Glory
Church to invest their hard-earned money in Aman Futures.
"He (Amalilio) said, 'I saw the people of Pagadian are very poor... In a
year and a half, I am going to make Pagadian City the economic center of
the Philippines," Paner said on ANC's On the Money special "Toppling the
Pyramid", Monday evening.
Paner recalled that Amalilio even started giving him cash, starting with
P5,000 and going all the way to P50,000, even without making any investment.
Amalilio initially convinced Paner and other church members to invest in
Aman Futures by saying he wanted to teach them about stock market
trading. The pastor eventually invested P110,000 of his own money and as
much as P7 million of the church's funds in the company.
"He started to inform us about Bloomberg TV. We watched every day from
2:30 a.m. to 5 a.m., so we can learn about stock market trading. We
believed with all our hearts this is something good because your money
would double within a month or more than double your money," Paner said.
He admitted they tried their best to understand the stock market, but
they didn't get much information from Amalilio, who said he made
investments in commodities as well.
Any doubts the investors had disappeared when they started getting big
returns. Some even got as much as 86% interest in just 19 days, Paner said.
"Akala ng ibang investors nasa amin ang pera kasi yun simbahan lumalago
ang tithes ng mga tao, yun offerings every Sunday, umaabot ng P3.8
million, sa isang service lang yan," he said.
Pinoys too trusting?
Paner is only one of around 8,000 investors victimized by Aman Futures.
Unfortunately, the Aman Futures scam is only the latest in a string of
investment scams that have victimized thousands of Filipinos in the last
few years.
For instance, Multinational Telecom Investors Corp. (Multitel) duped
investors of P25 billion in 2002, while the Legacy Group scam in 2008
reached P30 billion.
Despite media coverage about these scams and efforts of regulators to
educate the public, it seems Filipinos still put their trust and money
in these schemes that promise sky-high returns.
Securities and Exchange Commission secretary Gerard Lukban said
investors should be extremely wary of "investments" that promise high
returns in a short period of time.
"The first thing they do to lure investors is to promise big returns,
returns that are too good to be true... We've been telling the public
that if the offer is too good to be true, it's not true," he said.
"High" returns can mean anywhere from 4% interest in a month to as much
as 40% to 60% interest, which Lukban noted is "impossible."
Asked why he thinks many Filipinos fall for pyramiding scams, Lukban
said Filipinos are generally trusting.
"When they're offering something that's too good to be true, they start
producing results in the beginning and that's what we call, 'pinapadama'
daw yun una...So they get a taste of the good life to start with," he said.
"Some will say, you get the interest front-loaded, you get a new car and
at the end of the term, you get back your money with interest. A lot of
people will fall for that. We saw that in Legacy and other schemes.
Little did they know the vehicles given to them were purchased through
financing and the amortization were never paid. At the end of the day,
the cars were repossessed and they ended up with nothing."
NBI Anti-Fraud Division head Cesar A. Bacani said investors should
really ask questions on where their money is being invested.
"Maybe our people should ask where are they investing the money. Yung
iba, hindi na nagtatanong because of trust, because of referrals. Eh,
'sige lang basta kumikita'," he said.
However, some of these "victims" of investment scams may not be totally
ignorant of the risks.
"When we had the Francswiss (scam), we received phone calls from
investors, asking us, 'why did you issue an advisory, we haven't
withdrawn the money yet.' So you know that they probably knew what they
were getting into," Lukban said.
Lack of gov't action
Even complicating the matter, government agencies cannot take preemptive
action on an investment scam, unless a complaint is filed.
NBI's Bacani said their office in Pagadian City had already been alerted
about Aman Futures as early as June, but could not act to stop the scam
since there were no complainants.
"Our agency was even branded as spoilsport in Pagadian. 'Why are you
entering the picture? We are earning money here and you will stop us
from earning?' So we kept monitoring and waited for complainants to come
in so we can formally start an investigation. Only in October that
complainants surfaced," he said.
Victorio Dimagiba, director of the Department of Trade and Industry's
Bureau of Trade Regulation and Consumer Protection, said the government
should be more pro-active in stoppping these scams.
"We in government should get our act together. Baka we don't need a
complainant before we can act and formally stop an operation... We know
an investment security has to be registered with the SEC. If it's not
registered... I
think on that basis, the government has motu proprio powers to file a
complaint," Dimagiba said.
What to look for before investing
SEC's Lukban said investors should look for 4 things before making an
investment in any company:
First, the company registration, which can be easily checked on the
SEC's website;
Second, the company's secondary license to sell securities or investment
contracts;
Third, registration of investment contracts and products;
Fourth, registration of the broker-dealers who are selling the
investment products.
Teresita Lisama, Bangko Sentral ng Pilipinas Financial Consumer Affairs
group officer-in-charge, said investors should make sure they know the
company, the people behind it, the product and the recruiters before
making an investment.
"We always say education is the best guard against any scam or fraud.
Government agencies have the responsibility to educate the public, like
the BSP we have an advocacy on this. BSP has a continuing financial
education program," she said.
But when you have questions about a particular investment company,
Lisama said it is best to consult the regulators.
"When you are in doubt, ask the government regulatory agency," she said.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
by Cathy Rose A. Garcia, ABS-CBNnews.com
Posted at 11/26/2012 9:12 PM | Updated as of 11/27/2012 2:19 PM
MANILA, Philippines - When Aman Futures head Manuel Amalilio visited
Pagadian City for the first time in April, he promised to make the city
the financial center of the Philippines in a year and a half.
Improbable as Amalilio's promise sounded, it was still enough to
convince Pastor Hipolito Paner and members of the Christ the Lord Glory
Church to invest their hard-earned money in Aman Futures.
"He (Amalilio) said, 'I saw the people of Pagadian are very poor... In a
year and a half, I am going to make Pagadian City the economic center of
the Philippines," Paner said on ANC's On the Money special "Toppling the
Pyramid", Monday evening.
Paner recalled that Amalilio even started giving him cash, starting with
P5,000 and going all the way to P50,000, even without making any investment.
Amalilio initially convinced Paner and other church members to invest in
Aman Futures by saying he wanted to teach them about stock market
trading. The pastor eventually invested P110,000 of his own money and as
much as P7 million of the church's funds in the company.
"He started to inform us about Bloomberg TV. We watched every day from
2:30 a.m. to 5 a.m., so we can learn about stock market trading. We
believed with all our hearts this is something good because your money
would double within a month or more than double your money," Paner said.
He admitted they tried their best to understand the stock market, but
they didn't get much information from Amalilio, who said he made
investments in commodities as well.
Any doubts the investors had disappeared when they started getting big
returns. Some even got as much as 86% interest in just 19 days, Paner said.
"Akala ng ibang investors nasa amin ang pera kasi yun simbahan lumalago
ang tithes ng mga tao, yun offerings every Sunday, umaabot ng P3.8
million, sa isang service lang yan," he said.
Pinoys too trusting?
Paner is only one of around 8,000 investors victimized by Aman Futures.
Unfortunately, the Aman Futures scam is only the latest in a string of
investment scams that have victimized thousands of Filipinos in the last
few years.
For instance, Multinational Telecom Investors Corp. (Multitel) duped
investors of P25 billion in 2002, while the Legacy Group scam in 2008
reached P30 billion.
Despite media coverage about these scams and efforts of regulators to
educate the public, it seems Filipinos still put their trust and money
in these schemes that promise sky-high returns.
Securities and Exchange Commission secretary Gerard Lukban said
investors should be extremely wary of "investments" that promise high
returns in a short period of time.
"The first thing they do to lure investors is to promise big returns,
returns that are too good to be true... We've been telling the public
that if the offer is too good to be true, it's not true," he said.
"High" returns can mean anywhere from 4% interest in a month to as much
as 40% to 60% interest, which Lukban noted is "impossible."
Asked why he thinks many Filipinos fall for pyramiding scams, Lukban
said Filipinos are generally trusting.
"When they're offering something that's too good to be true, they start
producing results in the beginning and that's what we call, 'pinapadama'
daw yun una...So they get a taste of the good life to start with," he said.
"Some will say, you get the interest front-loaded, you get a new car and
at the end of the term, you get back your money with interest. A lot of
people will fall for that. We saw that in Legacy and other schemes.
Little did they know the vehicles given to them were purchased through
financing and the amortization were never paid. At the end of the day,
the cars were repossessed and they ended up with nothing."
NBI Anti-Fraud Division head Cesar A. Bacani said investors should
really ask questions on where their money is being invested.
"Maybe our people should ask where are they investing the money. Yung
iba, hindi na nagtatanong because of trust, because of referrals. Eh,
'sige lang basta kumikita'," he said.
However, some of these "victims" of investment scams may not be totally
ignorant of the risks.
"When we had the Francswiss (scam), we received phone calls from
investors, asking us, 'why did you issue an advisory, we haven't
withdrawn the money yet.' So you know that they probably knew what they
were getting into," Lukban said.
Lack of gov't action
Even complicating the matter, government agencies cannot take preemptive
action on an investment scam, unless a complaint is filed.
NBI's Bacani said their office in Pagadian City had already been alerted
about Aman Futures as early as June, but could not act to stop the scam
since there were no complainants.
"Our agency was even branded as spoilsport in Pagadian. 'Why are you
entering the picture? We are earning money here and you will stop us
from earning?' So we kept monitoring and waited for complainants to come
in so we can formally start an investigation. Only in October that
complainants surfaced," he said.
Victorio Dimagiba, director of the Department of Trade and Industry's
Bureau of Trade Regulation and Consumer Protection, said the government
should be more pro-active in stoppping these scams.
"We in government should get our act together. Baka we don't need a
complainant before we can act and formally stop an operation... We know
an investment security has to be registered with the SEC. If it's not
registered... I
think on that basis, the government has motu proprio powers to file a
complaint," Dimagiba said.
What to look for before investing
SEC's Lukban said investors should look for 4 things before making an
investment in any company:
First, the company registration, which can be easily checked on the
SEC's website;
Second, the company's secondary license to sell securities or investment
contracts;
Third, registration of investment contracts and products;
Fourth, registration of the broker-dealers who are selling the
investment products.
Teresita Lisama, Bangko Sentral ng Pilipinas Financial Consumer Affairs
group officer-in-charge, said investors should make sure they know the
company, the people behind it, the product and the recruiters before
making an investment.
"We always say education is the best guard against any scam or fraud.
Government agencies have the responsibility to educate the public, like
the BSP we have an advocacy on this. BSP has a continuing financial
education program," she said.
But when you have questions about a particular investment company,
Lisama said it is best to consult the regulators.
"When you are in doubt, ask the government regulatory agency," she said.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Sunday, November 25, 2012
Credit info bureau to speed up rural lending
Credit info bureau to speed up rural lending
By Ted P. Torres (The Philippine Star) | Updated November 25, 2012 - 12:00am
MANILA, Philippines - Accurate and accessible credit information to
rural banks will speed up the flow of credit for rural development,
according to the Credit Information Corp. (CiC).
CiC president Baltazar N. Endriga said this lowers the risk of lending
and the cost of borrowing and doing business for farmers, fisherfolk and
other small enterprises primarily served by rural banks.
"This could have a far-reaching impact on the development of the
countryside and the Philippine economy in general," Endriga said during
a recent symposium sponsored by the Rural Bankers Association of the
Philippines (RBAP).
Rural banks play a strategic role in serving the credit needs of the
countryside, having over 2,500 offices nationwide and catering
especially to micro, small and medium enterprises which account for 99.6
percent of all enterprises and generate 76 percent of total employment.
Likewise, rural banks spread throughout the archipelago have become
conduits for microfinance and microinsurance products that serve
low-income Filipinos.
Latest available data from the Bangko Sentral ng Pilipinas (BSP) show
that rural banks extended P109.76 billion in loans as of end-March 2012.
"In addition to having a wider geographical footprint, rural banks also
have a deeper understanding of the character, peculiarities and needs of
their clientele," Endriga added.
But processing loan applications and data gathering from the field still
prove to be tedious and costly for many rural banks, he said.
By gaining access to CiC's database, rural banks will be able to enhance
their knowledge of the borrower's credit history, and better manage
cases of multiple borrowings and over-indebtedness.
Another concern of the country's credit information bureau is the inflow
of credit information coming from bank and non-bank financial
institutions, otherwise known as "submitting entities."
"Submitting entities" include banks, insurance companies, utility firms,
telecommunications company (telcos) and other types of institutions that
extend credit.
Republic Act (RA) 9510 or the Credit Information System Act mandates all
submitting entities to share both their negative and positive data with
the CiC.
When operational, the CiC will be the leading provider of independent,
secure and accurate credit information in the country to address the
credit information gap.
The CiC is a government-owned and -controlled corporation 60 percent
owned by the government and 40 percent by the private sector. The
private sector stakeholders consist of the Philippine Cooperatives
Center (PCC), Bankers Association of the Philippines (BAP), Credit Card
Association of the Philippines (CCAP), Chamber of Thrift Banks (CTB),
Rural Bankers Association of the Philippines (RBAP) and the Philippine
Credit Reporting Alliance (Philcrea).
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By Ted P. Torres (The Philippine Star) | Updated November 25, 2012 - 12:00am
MANILA, Philippines - Accurate and accessible credit information to
rural banks will speed up the flow of credit for rural development,
according to the Credit Information Corp. (CiC).
CiC president Baltazar N. Endriga said this lowers the risk of lending
and the cost of borrowing and doing business for farmers, fisherfolk and
other small enterprises primarily served by rural banks.
"This could have a far-reaching impact on the development of the
countryside and the Philippine economy in general," Endriga said during
a recent symposium sponsored by the Rural Bankers Association of the
Philippines (RBAP).
Rural banks play a strategic role in serving the credit needs of the
countryside, having over 2,500 offices nationwide and catering
especially to micro, small and medium enterprises which account for 99.6
percent of all enterprises and generate 76 percent of total employment.
Likewise, rural banks spread throughout the archipelago have become
conduits for microfinance and microinsurance products that serve
low-income Filipinos.
Latest available data from the Bangko Sentral ng Pilipinas (BSP) show
that rural banks extended P109.76 billion in loans as of end-March 2012.
"In addition to having a wider geographical footprint, rural banks also
have a deeper understanding of the character, peculiarities and needs of
their clientele," Endriga added.
But processing loan applications and data gathering from the field still
prove to be tedious and costly for many rural banks, he said.
By gaining access to CiC's database, rural banks will be able to enhance
their knowledge of the borrower's credit history, and better manage
cases of multiple borrowings and over-indebtedness.
Another concern of the country's credit information bureau is the inflow
of credit information coming from bank and non-bank financial
institutions, otherwise known as "submitting entities."
"Submitting entities" include banks, insurance companies, utility firms,
telecommunications company (telcos) and other types of institutions that
extend credit.
Republic Act (RA) 9510 or the Credit Information System Act mandates all
submitting entities to share both their negative and positive data with
the CiC.
When operational, the CiC will be the leading provider of independent,
secure and accurate credit information in the country to address the
credit information gap.
The CiC is a government-owned and -controlled corporation 60 percent
owned by the government and 40 percent by the private sector. The
private sector stakeholders consist of the Philippine Cooperatives
Center (PCC), Bankers Association of the Philippines (BAP), Credit Card
Association of the Philippines (CCAP), Chamber of Thrift Banks (CTB),
Rural Bankers Association of the Philippines (RBAP) and the Philippine
Credit Reporting Alliance (Philcrea).
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Friday, November 23, 2012
Merger of BPI, PNB might trigger more consolidations
Merger of BPI, PNB might trigger more consolidations
Published on 23 November 2012 Hits: 120 Written by Madelaine B. Miraflor
Reporter
The merger between the Philippine National Bank (PNB) and Bank of the
Philippine Islands (BPI) may trigger consolidations among banks to
maintain leadership in the industry.
On Wednesday, the board of directors of BPI, PNB and Allied Bank
approved a three-way merger, that will bring together about $33 billion
worth of combined assets for the surviving entity, which is BPI.
The merger of PNB and Allied was earlier approved by the Bangko Sentral
Ng Pilipinas and the Securities and Exchange Commission.
At the sidelines of the Economic Journalist Association of the
Philippines forum on Private-Public Partnership, April Tan, research
head of Col Financial Philippines, told reporters that a merger between
PNB and BPI may prompt major consolidations, citing the 1990
Equitable-PCI bank merger that left Metrobank no choice but to acquire
different banks to maintain its number one position.
"We don't know if it will trigger [any impact in the banking industry]
but as we recall in the 1990s, when Equitable merged with PCI Bank, what
happened was Metrobank bought all these banks afterwards to maintain its
number one position," she said, referring to Metropolitan Bank and Trust
Co. of the Ty family.
She also said that once the PNB and BPI merger is finalized, BPI will
emerge as the number one bank in the Philippines, displacing current
leader Banco de Oro Unibank Inc. of Henry Sy.
"Both [banks] will benefit [in the transaction]. BPI, in terms of size,
will become number one. We are assuming that PNB and Allied Bank will
continue with the merger, and after that will merge with BPI. They will
become number one," Tan said.
"On the valuation, they might do a share swap. They might not pay cash.
Mahal naman shares nila [BPI has expensive shares] so when they do share
swap, potential dilution may not be as bad," she added.
Tan noted that BPI has a track record of successfully acquiring
companies and creating synergies, and this might actually help PNB and
Allied realize their own synergies.
"One of the reasons people were no longer excited with PNB-Allied merger
is because there was this huge question mark on execution. If you look
at the ROE [return on equity] of the two banks on a standalone basis, it
is below industry average," she said.
"There are synergies but the question is if they [PNB and Allied] can
execute," Tan added.
Also on Wednesday, news about the discussion between Ayala Group and
business tycoon Lucio Tan regarding a share swap, which is expected to
pave the way for the consolidation of BPI and PNB, spread like wildfire
within the industry.
Earlier reports said that Tan would give up his controlling stake in PNB
for shares in BPI under the share swap.
Previous reports also said that the Ayala Group would remain in control
of the much larger BPI, while Tan would get 20 percent.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Published on 23 November 2012 Hits: 120 Written by Madelaine B. Miraflor
Reporter
The merger between the Philippine National Bank (PNB) and Bank of the
Philippine Islands (BPI) may trigger consolidations among banks to
maintain leadership in the industry.
On Wednesday, the board of directors of BPI, PNB and Allied Bank
approved a three-way merger, that will bring together about $33 billion
worth of combined assets for the surviving entity, which is BPI.
The merger of PNB and Allied was earlier approved by the Bangko Sentral
Ng Pilipinas and the Securities and Exchange Commission.
At the sidelines of the Economic Journalist Association of the
Philippines forum on Private-Public Partnership, April Tan, research
head of Col Financial Philippines, told reporters that a merger between
PNB and BPI may prompt major consolidations, citing the 1990
Equitable-PCI bank merger that left Metrobank no choice but to acquire
different banks to maintain its number one position.
"We don't know if it will trigger [any impact in the banking industry]
but as we recall in the 1990s, when Equitable merged with PCI Bank, what
happened was Metrobank bought all these banks afterwards to maintain its
number one position," she said, referring to Metropolitan Bank and Trust
Co. of the Ty family.
She also said that once the PNB and BPI merger is finalized, BPI will
emerge as the number one bank in the Philippines, displacing current
leader Banco de Oro Unibank Inc. of Henry Sy.
"Both [banks] will benefit [in the transaction]. BPI, in terms of size,
will become number one. We are assuming that PNB and Allied Bank will
continue with the merger, and after that will merge with BPI. They will
become number one," Tan said.
"On the valuation, they might do a share swap. They might not pay cash.
Mahal naman shares nila [BPI has expensive shares] so when they do share
swap, potential dilution may not be as bad," she added.
Tan noted that BPI has a track record of successfully acquiring
companies and creating synergies, and this might actually help PNB and
Allied realize their own synergies.
"One of the reasons people were no longer excited with PNB-Allied merger
is because there was this huge question mark on execution. If you look
at the ROE [return on equity] of the two banks on a standalone basis, it
is below industry average," she said.
"There are synergies but the question is if they [PNB and Allied] can
execute," Tan added.
Also on Wednesday, news about the discussion between Ayala Group and
business tycoon Lucio Tan regarding a share swap, which is expected to
pave the way for the consolidation of BPI and PNB, spread like wildfire
within the industry.
Earlier reports said that Tan would give up his controlling stake in PNB
for shares in BPI under the share swap.
Previous reports also said that the Ayala Group would remain in control
of the much larger BPI, while Tan would get 20 percent.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Thursday, November 22, 2012
Micro-banking gets BSP backing
Micro-banking gets BSP backing
Philippine Daily Inquirer
12:14 am | Thursday, November 22nd, 2012
The Bangko Sentral ng Pilipinas has approved the opening of more than
400 micro-banking offices (MBOs) so far this year as it aims to trim the
number of Filipinos who still consider banking an alien concept.
MBOs are bank branches that provide "micro" financial services. They
offer small amounts of loans to micro-enterprises, accept small
deposits, provide remittance services and sell micro-insurance products.
But unlike regular bank branches, MBOs have much smaller operations and
are easier to establish because they require smaller capital, fewer
staff and smaller space.
About 100 more applications are in the pipeline for approval, according
to the central bank.
The BSP believes that MBOs will help bring financial services within the
reach of people in remote areas in the country.
The establishment of more MBOs is consistent with the goal of achieving
"financial inclusion" in the country, said BSP Deputy Governor Nestor
Espenilla Jr.
"We deliberately allowed the establishment of MBOs as a policy
innovation, to enable well-run banks to reach out to the
unbanked/under-banked people in hard-to-reach areas in the country,"
Espenilla told the Inquirer.
In a presentation made during the assembly of members of the Rural
Bankers Association of the Philippines on Tuesday, Pia Bernadette Tayag,
head of the BSP's financial inclusion staff, said that from the start of
the year to the end of August, the BSP had already approved the opening
of 459 MBOs.
She also said the BSP was expecting to approve more MBO applications
within the next few months.
Tayag said the promotion of MBOs was one the measures designed to enable
more people to gain access to banking services.
For this purpose, the rural banking sector has also started offering
electronic banking services, which can be tapped through the use of
Internet or mobile phones.
Tayag said 50 rural banks were already offering e-banking services.
Also, she said the BSP had allowed rural banks and MBOs to offer
micro-insurance products to serve the insurance needs of people in the
rural areas.
The BSP noted that a significant number of municipalities in the
country, 609 out of 1,634, remained unserved by banks. Also, about 80
percent of Filipinos do not have bank accounts, according to results of
a BSP survey.—Michelle V. Remo
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Philippine Daily Inquirer
12:14 am | Thursday, November 22nd, 2012
The Bangko Sentral ng Pilipinas has approved the opening of more than
400 micro-banking offices (MBOs) so far this year as it aims to trim the
number of Filipinos who still consider banking an alien concept.
MBOs are bank branches that provide "micro" financial services. They
offer small amounts of loans to micro-enterprises, accept small
deposits, provide remittance services and sell micro-insurance products.
But unlike regular bank branches, MBOs have much smaller operations and
are easier to establish because they require smaller capital, fewer
staff and smaller space.
About 100 more applications are in the pipeline for approval, according
to the central bank.
The BSP believes that MBOs will help bring financial services within the
reach of people in remote areas in the country.
The establishment of more MBOs is consistent with the goal of achieving
"financial inclusion" in the country, said BSP Deputy Governor Nestor
Espenilla Jr.
"We deliberately allowed the establishment of MBOs as a policy
innovation, to enable well-run banks to reach out to the
unbanked/under-banked people in hard-to-reach areas in the country,"
Espenilla told the Inquirer.
In a presentation made during the assembly of members of the Rural
Bankers Association of the Philippines on Tuesday, Pia Bernadette Tayag,
head of the BSP's financial inclusion staff, said that from the start of
the year to the end of August, the BSP had already approved the opening
of 459 MBOs.
She also said the BSP was expecting to approve more MBO applications
within the next few months.
Tayag said the promotion of MBOs was one the measures designed to enable
more people to gain access to banking services.
For this purpose, the rural banking sector has also started offering
electronic banking services, which can be tapped through the use of
Internet or mobile phones.
Tayag said 50 rural banks were already offering e-banking services.
Also, she said the BSP had allowed rural banks and MBOs to offer
micro-insurance products to serve the insurance needs of people in the
rural areas.
The BSP noted that a significant number of municipalities in the
country, 609 out of 1,634, remained unserved by banks. Also, about 80
percent of Filipinos do not have bank accounts, according to results of
a BSP survey.—Michelle V. Remo
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Monday, November 19, 2012
SEC bares action On Scams
SEC bares action On Scams
By JAMES LOYOLA
November 17, 2012, 7:57pm
MANILA, Philippines --- The Securities and Exchange Commission (SEC)
said yesterday it has been sending teams around the country to educate
and warn people about pseudo-investment schemes that still crop up and
scam people of billions of pesos.
SEC Commission Secretary Gerard M. Lukban said the SEC fields teams on
its own or speaks before various industry groups and provincial chambers
of commerce.
Lukban said in the case of Aman Futures Group Philippines Inc., the SEC
acted on its own initiative to shut down the operations of the firm even
if there were no complaints filed against the company yet.
"There were no complaints. We just received some queries and decided to
conduct an investigation. We were alarmed when we found out that the
company already has collected investments of a quarter of a billion
pesos even before it had a license," Lukban said.
He said based on the admissions of Aman Futures' officials, the firm had
been operating without a license from the SEC and this prompted the
commission to immediately issue an advisory followed by a cease and
desist order.
"We warned people about their modus operandi," Lukban said, adding that
this could be just the tip of the iceberg since some of the duped
investors may choose to keep their silence for fear of staining their
reputation.
Like many before it, Aman Futures employed the so-called Ponzi scheme
which is an fraudulent investment scheme that pays unusually high
returns to its investors from their own money or the money paid by
subsequent investors, rather than from profit earned by the individual
or organization running the operation.
SEC records show that there have been 13 major Ponzi schemes since 2001
which were investigated by the SEC and forwarded to the Justice
Department for the filing of criminal charges.
Meanwhile, Malacañang appealed yesterday to the thousands of victims of
the Aman Futures investment scam in some parts of Mindanao not to take
the law in their hands amid the ongoing investigation into the matter.
Deputy Presidential spokesperson Abigail Valte said the government is
already taking actions, citing Interior and Local Government Secretary
Manuel Roxas II's earlier move to relieve Zamboanga del Sur Provincial
PNP Director Senior Supt. William T. Manzan and Pagadian City Chief of
Police Supt. Kenneth H. Mission in connection with the "get-rich-quick"
scheme.
Valte noted that victims include ordinary citizens like tricycle drivers
who have invested their life's savings.
"What we would want to prevent is that the investors themselves will
take the law into their own hands. So security has been tightened in
these places," Valte said in an interview with government radio dzRB as
she appealed form calm from the victims.
"Let the investigation take its course. Let authorities go after the
suspects. And don't allow your emotions to overcome you and do something
that would result to another problem," Valte appealed to the victims,
speaking in Filipino. (With a report from JC Bello Ruiz)
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By JAMES LOYOLA
November 17, 2012, 7:57pm
MANILA, Philippines --- The Securities and Exchange Commission (SEC)
said yesterday it has been sending teams around the country to educate
and warn people about pseudo-investment schemes that still crop up and
scam people of billions of pesos.
SEC Commission Secretary Gerard M. Lukban said the SEC fields teams on
its own or speaks before various industry groups and provincial chambers
of commerce.
Lukban said in the case of Aman Futures Group Philippines Inc., the SEC
acted on its own initiative to shut down the operations of the firm even
if there were no complaints filed against the company yet.
"There were no complaints. We just received some queries and decided to
conduct an investigation. We were alarmed when we found out that the
company already has collected investments of a quarter of a billion
pesos even before it had a license," Lukban said.
He said based on the admissions of Aman Futures' officials, the firm had
been operating without a license from the SEC and this prompted the
commission to immediately issue an advisory followed by a cease and
desist order.
"We warned people about their modus operandi," Lukban said, adding that
this could be just the tip of the iceberg since some of the duped
investors may choose to keep their silence for fear of staining their
reputation.
Like many before it, Aman Futures employed the so-called Ponzi scheme
which is an fraudulent investment scheme that pays unusually high
returns to its investors from their own money or the money paid by
subsequent investors, rather than from profit earned by the individual
or organization running the operation.
SEC records show that there have been 13 major Ponzi schemes since 2001
which were investigated by the SEC and forwarded to the Justice
Department for the filing of criminal charges.
Meanwhile, Malacañang appealed yesterday to the thousands of victims of
the Aman Futures investment scam in some parts of Mindanao not to take
the law in their hands amid the ongoing investigation into the matter.
Deputy Presidential spokesperson Abigail Valte said the government is
already taking actions, citing Interior and Local Government Secretary
Manuel Roxas II's earlier move to relieve Zamboanga del Sur Provincial
PNP Director Senior Supt. William T. Manzan and Pagadian City Chief of
Police Supt. Kenneth H. Mission in connection with the "get-rich-quick"
scheme.
Valte noted that victims include ordinary citizens like tricycle drivers
who have invested their life's savings.
"What we would want to prevent is that the investors themselves will
take the law into their own hands. So security has been tightened in
these places," Valte said in an interview with government radio dzRB as
she appealed form calm from the victims.
"Let the investigation take its course. Let authorities go after the
suspects. And don't allow your emotions to overcome you and do something
that would result to another problem," Valte appealed to the victims,
speaking in Filipino. (With a report from JC Bello Ruiz)
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Friday, November 16, 2012
9 rural banks accredited under Agri-Agra law
9 rural banks accredited under Agri-Agra law
NINE RURAL banks have been accredited by the Bangko Sentral ng Pilipinas
(BSP) so they can be lent to or invested in for the Agri-Agra Reform
Credit Act of 2009.
The following rural banks are "accredited rural financial institutions"
(ARFI) beginning Oct. 24, the BSP said in Circular Letter No. 2012-082
dated Nov. 13 and released yesterday:
• Rural Bank of Kiamba, Inc.;
• Producers Savings Bank;
• Rural Bank of Barili (Cebu), Inc.;
• Rural Bank of Sta. Catalina, Inc.;
• Community Rural Bank of Catmon, Inc.;
• Rural Bank of Bay, Inc.;
• Philippine Resources Savings Bank, Corp.;
• Rural Bank of Pilar (Bataan), Inc.; and
• Common Wealth Rural Bank, Inc.
"The accreditation issued by the BSP is solely for the purpose of
certifying that the loan portfolio of the above-listed ARFIs complies
with the qualification requirements prescribed under the relevant law,
rules and regulations," the circular read.
Republic Act No. 10000 or The Agri-Agra Reform Credit Act of 2009 was
approved by then President Gloria Macapagal-Arroyo in 2010 to encourage
banks to increase their loans to farmers, fisherfolk and agrarian reform
beneficiaries.
The law mandates banks to set aside 25% of their total loanable funds
for the agriculture and agrarian reform sectors. Aside from extending
loans and purchasing eligible loans from other banks, banks have
alternative modes to comply with the law.
These include paid subscription of shares of stock in ARFIs, wholesale
lending to ARFIs and investments in the special deposit accounts held by
ARFIs.
"Under existing regulations, the lending and/or investing bank is
required to disclose in its Agri-Agra report submitted to the BSP its
exposure to the ARFI..." the circular letter read.
"Such exposure to the ARFI shall be eligible for determining compliance
with the agri-agra requirement for as long as the ARFI remains
accredited with the BSP," it added.
The central bank clarified, though, that the accreditation concerns only
the Agri-Agra Reform Credit Act and does not serve as an endorsement of
the "safety and soundness" of the rural banks. -- Diane Claire J. Jiao
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
NINE RURAL banks have been accredited by the Bangko Sentral ng Pilipinas
(BSP) so they can be lent to or invested in for the Agri-Agra Reform
Credit Act of 2009.
The following rural banks are "accredited rural financial institutions"
(ARFI) beginning Oct. 24, the BSP said in Circular Letter No. 2012-082
dated Nov. 13 and released yesterday:
• Rural Bank of Kiamba, Inc.;
• Producers Savings Bank;
• Rural Bank of Barili (Cebu), Inc.;
• Rural Bank of Sta. Catalina, Inc.;
• Community Rural Bank of Catmon, Inc.;
• Rural Bank of Bay, Inc.;
• Philippine Resources Savings Bank, Corp.;
• Rural Bank of Pilar (Bataan), Inc.; and
• Common Wealth Rural Bank, Inc.
"The accreditation issued by the BSP is solely for the purpose of
certifying that the loan portfolio of the above-listed ARFIs complies
with the qualification requirements prescribed under the relevant law,
rules and regulations," the circular read.
Republic Act No. 10000 or The Agri-Agra Reform Credit Act of 2009 was
approved by then President Gloria Macapagal-Arroyo in 2010 to encourage
banks to increase their loans to farmers, fisherfolk and agrarian reform
beneficiaries.
The law mandates banks to set aside 25% of their total loanable funds
for the agriculture and agrarian reform sectors. Aside from extending
loans and purchasing eligible loans from other banks, banks have
alternative modes to comply with the law.
These include paid subscription of shares of stock in ARFIs, wholesale
lending to ARFIs and investments in the special deposit accounts held by
ARFIs.
"Under existing regulations, the lending and/or investing bank is
required to disclose in its Agri-Agra report submitted to the BSP its
exposure to the ARFI..." the circular letter read.
"Such exposure to the ARFI shall be eligible for determining compliance
with the agri-agra requirement for as long as the ARFI remains
accredited with the BSP," it added.
The central bank clarified, though, that the accreditation concerns only
the Agri-Agra Reform Credit Act and does not serve as an endorsement of
the "safety and soundness" of the rural banks. -- Diane Claire J. Jiao
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Wednesday, November 14, 2012
Thousands gypped in P12-billion scam
Thousands gypped in P12-billion scam
Politicians, soldiers, cops, OFWs among those duped
By Nancy C. Carvajal
Philippine Daily Inquirer
12:17 am | Wednesday, November 14th, 2012
BLOOD MONEY Interior Secretary Manuel Roxas on Tuesday assures victims
of a multibillion-peso pyramid scam in Pagadian City that the government
will run after the perpetrators of the scheme. RICHEL V. UMEL/ INQUIRER
MINDANAO
A company managed by a former janitor and driver, and founded just early
this year, has duped at least 15,000 people in Mindanao and the Visayas
of P12 billion in a pyramid scam, an official of the National Bureau of
Investigation said Tuesday.
The NBI identified the company as Aman Futures Group Phils. Inc.
"Some of the victims committed suicide and others have become violent
and sick when they learned their hard-earned money was gone," said
Virgilio Mendez, NBI deputy director for regional operations services,
who was investigating the scam.
Among Aman Futures' victims were local politicians, police and military
personnel, government workers, market vendors, farmers, drivers, retired
employees and overseas Filipino workers, according to Mendez.
He said the number of "complainants from across the country is piling up."
Mendez said Justice Secretary Leila de Lima had ordered the NBI to file
estafa cases against executives and directors of Aman Futures namely
Manuel K. Amalilio, Fernando "Nonoy" R. Luna, Lelian Lim Gan, Edward L.
Lim, William L. Fuentes, Naezelle M. Rodriguez and Lurix Lopez.
High return
The first investors of the company were low-income people but
professionals and retired employees followed because of the promise of a
high return on investment, Mendez said.
"The first clients of Aman Futures were market vendors in Pagadian City
who invested P1,000 with a 70-percent return after one week," he said.
The NBI deputy director said Luna, who managed the multibillion scam,
"is a former driver and utility person for a company located near the
Pagadian City public market."
Luna's boss, Amalilio, is a 32-year-old Malaysian, whose Malaysian name
is Mohammad Suffian Saaid. His wife is identified as Abigail Pendulas,
and they have two children, ages 2 and 1.
Luna and Amalilio and their families are now in hiding, according to Mendez.
Private planes
The NBI official said Amalilio reportedly owned three private planes and
two units at Upper Mckinley Hills Garden Villas in Taguig City. He also
owns a house in Cebu City and Dapitan City.
"He visits his offices in Mindanao and Visayas using private planes and
luxury cars," Mendez said.
He said Aman Futures was able to lure investors by offering a 30-percent
to 40-percent return on investment within eight days, and a 50-percent
to 80-percent profit for 18 to 20 days.
"The amount of interest varies depending on the investment or money
placements," Mendez said.
Modus operandi
He said the modus operandi of Aman Futures was to offer a return through
a postdated check of the entire sum of the investment plus a profit up
to 80 percent.
"Because of the huge interest, the number of investors of Aman Futures
increased tremendously," Mendez said.
Due to its success in Pagadian City, Aman Futures expanded its business
to other cities and provinces like Lanao del Sur and Zamboanga in
Mindanao and to Cebu City, he said.
Lands, houses mortgaged
With the huge increase in the number of investors, Aman Futures raised
its required minimum investment from P1,000 to P200,000," Mendez said.
"And in order to meet the new requirement, investors pooled their
resources and others mortgaged lands and houses to comply with the
requirement," Mendez said.
He said investors started lining up at 2 in the morning although the
office of Aman Futures Group had yet to open at 8 a.m.
No queues for VIPS
Every day, some 3,000 people were lining up at the office of Aman
Futures in Pagadian City. "But VIPs were not required to fall in line
and could deal directly with Luna," Mendez said.
"The complainants said at the beginning that they thought they could
realize their dreams to own cars and expensive things by making more
investments in Aman Futures," Mendez said.
He said the victims trusted Aman Futures largely because of endorsements
from local officials.
"They trusted Aman Futures because even local government officials had
openly endorsed it and admitted to have invested also," Mendez explained.
Mendez said the NBI had received reports that government funds could
have been used to invest in Aman Futures.
"We are currently investigating if government funds were used by local
officials who invested in the scam," Mendez said.
He declined to name the officials, but said charges would be filed
against these officials should they be found to have used public funds.
Mendez said investors had started filing complaints in the NBI against
Aman Futures in September for its failure to pay back their money.
Bouncing checks
At first, the victims could receive cash by just showing their official
receipts. But later, investors were issued postdated checks with a
50-day maturity date in lieu of cash.
"But the checks issued by Aman Futures started to bounce and the account
was eventually closed," Mendez said.
Mendez said some victims had resorted to burning the houses of relatives
of Aman Futures employees. "So far, two houses of Luna's relatives were
torched by victims who demanded they return their money," he said.
Mendez said that complainants had been going to Keppel Building in the
Cebu City Business Park office of Aman Futures, registered under another
name, FRETZ and Sha Trading.
In Lanao del Sur, Mendez said, Aman Futures used another name, Jachob
Amer Rasunan Co.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Politicians, soldiers, cops, OFWs among those duped
By Nancy C. Carvajal
Philippine Daily Inquirer
12:17 am | Wednesday, November 14th, 2012
BLOOD MONEY Interior Secretary Manuel Roxas on Tuesday assures victims
of a multibillion-peso pyramid scam in Pagadian City that the government
will run after the perpetrators of the scheme. RICHEL V. UMEL/ INQUIRER
MINDANAO
A company managed by a former janitor and driver, and founded just early
this year, has duped at least 15,000 people in Mindanao and the Visayas
of P12 billion in a pyramid scam, an official of the National Bureau of
Investigation said Tuesday.
The NBI identified the company as Aman Futures Group Phils. Inc.
"Some of the victims committed suicide and others have become violent
and sick when they learned their hard-earned money was gone," said
Virgilio Mendez, NBI deputy director for regional operations services,
who was investigating the scam.
Among Aman Futures' victims were local politicians, police and military
personnel, government workers, market vendors, farmers, drivers, retired
employees and overseas Filipino workers, according to Mendez.
He said the number of "complainants from across the country is piling up."
Mendez said Justice Secretary Leila de Lima had ordered the NBI to file
estafa cases against executives and directors of Aman Futures namely
Manuel K. Amalilio, Fernando "Nonoy" R. Luna, Lelian Lim Gan, Edward L.
Lim, William L. Fuentes, Naezelle M. Rodriguez and Lurix Lopez.
High return
The first investors of the company were low-income people but
professionals and retired employees followed because of the promise of a
high return on investment, Mendez said.
"The first clients of Aman Futures were market vendors in Pagadian City
who invested P1,000 with a 70-percent return after one week," he said.
The NBI deputy director said Luna, who managed the multibillion scam,
"is a former driver and utility person for a company located near the
Pagadian City public market."
Luna's boss, Amalilio, is a 32-year-old Malaysian, whose Malaysian name
is Mohammad Suffian Saaid. His wife is identified as Abigail Pendulas,
and they have two children, ages 2 and 1.
Luna and Amalilio and their families are now in hiding, according to Mendez.
Private planes
The NBI official said Amalilio reportedly owned three private planes and
two units at Upper Mckinley Hills Garden Villas in Taguig City. He also
owns a house in Cebu City and Dapitan City.
"He visits his offices in Mindanao and Visayas using private planes and
luxury cars," Mendez said.
He said Aman Futures was able to lure investors by offering a 30-percent
to 40-percent return on investment within eight days, and a 50-percent
to 80-percent profit for 18 to 20 days.
"The amount of interest varies depending on the investment or money
placements," Mendez said.
Modus operandi
He said the modus operandi of Aman Futures was to offer a return through
a postdated check of the entire sum of the investment plus a profit up
to 80 percent.
"Because of the huge interest, the number of investors of Aman Futures
increased tremendously," Mendez said.
Due to its success in Pagadian City, Aman Futures expanded its business
to other cities and provinces like Lanao del Sur and Zamboanga in
Mindanao and to Cebu City, he said.
Lands, houses mortgaged
With the huge increase in the number of investors, Aman Futures raised
its required minimum investment from P1,000 to P200,000," Mendez said.
"And in order to meet the new requirement, investors pooled their
resources and others mortgaged lands and houses to comply with the
requirement," Mendez said.
He said investors started lining up at 2 in the morning although the
office of Aman Futures Group had yet to open at 8 a.m.
No queues for VIPS
Every day, some 3,000 people were lining up at the office of Aman
Futures in Pagadian City. "But VIPs were not required to fall in line
and could deal directly with Luna," Mendez said.
"The complainants said at the beginning that they thought they could
realize their dreams to own cars and expensive things by making more
investments in Aman Futures," Mendez said.
He said the victims trusted Aman Futures largely because of endorsements
from local officials.
"They trusted Aman Futures because even local government officials had
openly endorsed it and admitted to have invested also," Mendez explained.
Mendez said the NBI had received reports that government funds could
have been used to invest in Aman Futures.
"We are currently investigating if government funds were used by local
officials who invested in the scam," Mendez said.
He declined to name the officials, but said charges would be filed
against these officials should they be found to have used public funds.
Mendez said investors had started filing complaints in the NBI against
Aman Futures in September for its failure to pay back their money.
Bouncing checks
At first, the victims could receive cash by just showing their official
receipts. But later, investors were issued postdated checks with a
50-day maturity date in lieu of cash.
"But the checks issued by Aman Futures started to bounce and the account
was eventually closed," Mendez said.
Mendez said some victims had resorted to burning the houses of relatives
of Aman Futures employees. "So far, two houses of Luna's relatives were
torched by victims who demanded they return their money," he said.
Mendez said that complainants had been going to Keppel Building in the
Cebu City Business Park office of Aman Futures, registered under another
name, FRETZ and Sha Trading.
In Lanao del Sur, Mendez said, Aman Futures used another name, Jachob
Amer Rasunan Co.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Monday, November 12, 2012
Mobile banking expands to include microfinance
Mobile banking expands to include microfinance
By Ronnel W. Domingo
Philippine Daily Inquirer
12:35 am | Monday, November 12th, 2012
MANILA, Philippines—Mobile banking in the Philippines is expanding into
microfinance to serve the lower-income market outside of the country's
major urban centers.
Tricia Dizon, head of financial services at Smart Communications, said
in a statement the telecommunications giant was helping launch mBank
Philippines.
This planned mobile micronfinancing service provider is meant to deliver
savings and loan products exclusively on a mobile platform to Filipinos
with little or no access to the formal banking system.
Regarding this effort, Dizon said Smart was working with PLDT-Smart
Foundation, mobile microfinance holding company mBank Holding, Finnish
development finance company Finnfund and Dutch development bank FMO.
Dizon said pilot services were already being offered through mCompany, a
nongovernment organization whose operations will spin off into mBank
Philippines once regulators approve its application for a formal banking
license.
"Seven out of 10 Filipinos do not have an account at a formal financial
institution mainly because of steep deposit requirements and the absence
of banks in remote areas, but almost all Filipinos have a mobile phone,"
Dizon said.
"By offering simple and effective financial services, mCompany—and
eventually mBank—seeks to increase financial inclusion and ensure that
people have enough money at any given moment," she added.
Dizon explained that once mBank is launched, Smart and Talk 'N Text
subscribers will be able to open a savings account with the help of
mBank field agents deployed in their communities.
Activated account holders can apply for a loan product that interests
them, immediately get a response about their application, and select a
weekly repayment schedule—all through their mobile phone.
"The process eliminates the need to travel far to deposit and withdraw
money, apply for loans, and pay amortization," Dizon said. "This is very
convenient especially for those who cannot afford to be absent from work
or leave their sari-sari stores."
Further, mBank will operate a credit risk management capability
delivered by Experian, which provides credit risk management automation
services.
According to the Asian Development Bank, the Philippines is one of the
more developed microfinance markets in the world.
An ADB study titled "Microfinance Development Strategy 2000" showed that
six countries including the Philippines account for about a third of the
world's global microfinance portfolio. The other five are Cambodia,
Pakistan, Papua New Guinea,
Uzbekistan and Vietnam.
The study also showed that as of 2010, there were 45 microfinance
institutions in the Philippines, accounting for $920 million in total
assets and a gross loan portfolio of $632 million that covers some 3
million active borrowers.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By Ronnel W. Domingo
Philippine Daily Inquirer
12:35 am | Monday, November 12th, 2012
MANILA, Philippines—Mobile banking in the Philippines is expanding into
microfinance to serve the lower-income market outside of the country's
major urban centers.
Tricia Dizon, head of financial services at Smart Communications, said
in a statement the telecommunications giant was helping launch mBank
Philippines.
This planned mobile micronfinancing service provider is meant to deliver
savings and loan products exclusively on a mobile platform to Filipinos
with little or no access to the formal banking system.
Regarding this effort, Dizon said Smart was working with PLDT-Smart
Foundation, mobile microfinance holding company mBank Holding, Finnish
development finance company Finnfund and Dutch development bank FMO.
Dizon said pilot services were already being offered through mCompany, a
nongovernment organization whose operations will spin off into mBank
Philippines once regulators approve its application for a formal banking
license.
"Seven out of 10 Filipinos do not have an account at a formal financial
institution mainly because of steep deposit requirements and the absence
of banks in remote areas, but almost all Filipinos have a mobile phone,"
Dizon said.
"By offering simple and effective financial services, mCompany—and
eventually mBank—seeks to increase financial inclusion and ensure that
people have enough money at any given moment," she added.
Dizon explained that once mBank is launched, Smart and Talk 'N Text
subscribers will be able to open a savings account with the help of
mBank field agents deployed in their communities.
Activated account holders can apply for a loan product that interests
them, immediately get a response about their application, and select a
weekly repayment schedule—all through their mobile phone.
"The process eliminates the need to travel far to deposit and withdraw
money, apply for loans, and pay amortization," Dizon said. "This is very
convenient especially for those who cannot afford to be absent from work
or leave their sari-sari stores."
Further, mBank will operate a credit risk management capability
delivered by Experian, which provides credit risk management automation
services.
According to the Asian Development Bank, the Philippines is one of the
more developed microfinance markets in the world.
An ADB study titled "Microfinance Development Strategy 2000" showed that
six countries including the Philippines account for about a third of the
world's global microfinance portfolio. The other five are Cambodia,
Pakistan, Papua New Guinea,
Uzbekistan and Vietnam.
The study also showed that as of 2010, there were 45 microfinance
institutions in the Philippines, accounting for $920 million in total
assets and a gross loan portfolio of $632 million that covers some 3
million active borrowers.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Sunday, November 11, 2012
Big things in a sachet: Family meals for P22.50
Big things in a sachet: Family meals for P22.50
By Tarra Quismundo
Philippine Daily Inquirer
1:27 am | Sunday, November 11th, 2012
MANILA, Philippines—Big things come in small packages—as small as
quick-food compact sachets that can feed a family for P22.50.
At a time when the sachet mentality has become key in the survival of
Filipino families living in poverty, an emerging social enterprise has
come up with a new line of packet-size food products that are both cheap
and nutritious.
The Villa Socorro Farm, a 4-year-old family-run social enterprise based
in Pagsanjan, Laguna, was first made famous by its banana chips, now
being sold overseas. Recently, it released champorado and arroz caldo in
all-in-one packs with rice and flavoring that promise to satisfy a
family of five. Just bring the contents to a boil and there goes a
family's full meal for P22.50.
Marcial Aaron, a former executive in a multinational company who took to
farming and social enterprise when he opted for early retirement in
2004, created the instant meals as part of his family's advocacy to
provide affordable yet nutritious food alternatives to cash-strapped
families.
"It's providing cheaper food alternatives not only to poor Filipinos but
also to the food-poor Filipinos," Aaron told the Inquirer in his
Magallanes Village home in Makati City, which also houses his firm's
office and warehouse.
The 62-year-old Aaron called the project "Feeding Totoy," which he so
named to emphasize proper nutrition for the young.
"It's the umbrella theme for this project because the intention here is
to provide the right food for Totoy… Our target is food-poor Filipinos,
especially the children. And of course, when you say 'Totoy,' there's
that emotional touch," Aaron said.
"I'm sure you've heard that there are a lot of malnourished Filipino
children. Actually, the issue is not that they're not eating the right
food. It's that they just have no food to eat at all. How can you even
choose the food you need when you don't have any food to eat?" Aaron said.
'Let's All Rice'
Aaron's "Let's All Rice" food line is a culmination of an idea he had
hatched back when he headed his firm's food subsidiary.
"My model is that there are about 5 million Filipino families who are
food-poor… That's why I came out with this set. Champorado (sweet
chocolate rice porridge) Kumpleto has rice, tablea and sugar. The same
with arroz caldo (congee)," he said.
A nutrition report by the Social Weather Stations released in September
said some 4.3 million Filipino families "experienced hunger or having
had nothing to eat" in the three months prior to the time of the survey.
Faced with such statistics, Aaron hopes his food line will become an
alternative to the usual recourse of families who have too little to buy
proper meals: Rice with instant noodles, rice with salt, rice with sugar
or rice with coffee.
"These families don't buy coffee or sugar for the week; what they can
afford is what they need only for the day. That's their lifestyle. If
you ask if that's what they really want? No. It's what they can afford,"
said Aaron.
Drawing from the popular tingi (retail) idea, the Let's All Rice
Champorado and Arroz Caldo bring together all ingredients in one pack—85
grams of rice with tablea and sugar for the chocolate rice porridge, or
with ginger and pandan flavoring for the arroz caldo.
Aaron's company sources the tablea from the Cavite-based cooperative and
uses ginger and pandan harvested from his Pagsanjan farm, an 11-hectare
property he acquired in 1997 where he built his retirement home, a
reservation-only resort and manufacturing plant.
Apart from the two instant meal variants, the farm, named after Aaron's
Pagsanjan-born wife, is also set to produce new soup and rice varieties
playfully called Souprice.
Aaron, a chemical engineer, is currently developing instant rice with
sinigang (vinegar stew) and bulalo (beef shank soup) variants. These
instant meals are scheduled for market release at a price of P17.50.
Social relevance
"To us, this is our project with social relevance and we feel that we
can be a party to nation-building, so to speak. We are not a
philanthropic organization so we need to generate funds as well so we
can plow back [to the business] to make it sustainable," Aaron said.
To reach his target market, Aaron introduced his Let's All Rice line in
sari-sari stores and public markets.
Such strategy is similar to the supply chain he and his son Raymund, a
2009 entrepreneurial management graduate from
Ateneo de Manila University, has drawn up to market their "sabanana
chips" products.
The younger Aaron took the lead at the banana chips business shortly
after it started in 2008.
"That was the time when there was a boom in social enterprises. So it
was a very new and very interesting field that was emerging," said Raymund.
The banana crisps, made with produce from local farmers then cooked and
packed by local workers in Laguna, are distributed to school canteens,
offices and restaurants instead of supermarkets, where Aaron says the
product would contend with wholesale haggle.
"It's a very different business model in the sense that we have a
different back end on how we produce, and we also have a different front
end on how we distribute," said the younger Aaron.
The Laguna banana chip plant produces 8,000 packs of banana chips a day,
consuming the same amount (8,000 pieces) of bananas from farmers in
Pagsanjan and nearby towns of Magdalena and Cavinti, Aaron said.
"It's very profitable how it was set up. But when you say profitable,
it's not the way the multinationals look at how profitable business
should be," said Aaron.
"I think, more than anything else, the most fulfilling part of our job
now is the social entrepreneurship, providing sustainable livelihood for
the people," he added.
Apart from these for-profit ventures, the Aaron family is giving back to
the local community through a weekly feeding program they recently
started at a school near their farm in Barangay Dingin, Pagsanjan town.
The program provides arroz caldo and champorado to some 50 children from
kindergarten to second grade right after Mass and catechism on Saturdays.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
By Tarra Quismundo
Philippine Daily Inquirer
1:27 am | Sunday, November 11th, 2012
MANILA, Philippines—Big things come in small packages—as small as
quick-food compact sachets that can feed a family for P22.50.
At a time when the sachet mentality has become key in the survival of
Filipino families living in poverty, an emerging social enterprise has
come up with a new line of packet-size food products that are both cheap
and nutritious.
The Villa Socorro Farm, a 4-year-old family-run social enterprise based
in Pagsanjan, Laguna, was first made famous by its banana chips, now
being sold overseas. Recently, it released champorado and arroz caldo in
all-in-one packs with rice and flavoring that promise to satisfy a
family of five. Just bring the contents to a boil and there goes a
family's full meal for P22.50.
Marcial Aaron, a former executive in a multinational company who took to
farming and social enterprise when he opted for early retirement in
2004, created the instant meals as part of his family's advocacy to
provide affordable yet nutritious food alternatives to cash-strapped
families.
"It's providing cheaper food alternatives not only to poor Filipinos but
also to the food-poor Filipinos," Aaron told the Inquirer in his
Magallanes Village home in Makati City, which also houses his firm's
office and warehouse.
The 62-year-old Aaron called the project "Feeding Totoy," which he so
named to emphasize proper nutrition for the young.
"It's the umbrella theme for this project because the intention here is
to provide the right food for Totoy… Our target is food-poor Filipinos,
especially the children. And of course, when you say 'Totoy,' there's
that emotional touch," Aaron said.
"I'm sure you've heard that there are a lot of malnourished Filipino
children. Actually, the issue is not that they're not eating the right
food. It's that they just have no food to eat at all. How can you even
choose the food you need when you don't have any food to eat?" Aaron said.
'Let's All Rice'
Aaron's "Let's All Rice" food line is a culmination of an idea he had
hatched back when he headed his firm's food subsidiary.
"My model is that there are about 5 million Filipino families who are
food-poor… That's why I came out with this set. Champorado (sweet
chocolate rice porridge) Kumpleto has rice, tablea and sugar. The same
with arroz caldo (congee)," he said.
A nutrition report by the Social Weather Stations released in September
said some 4.3 million Filipino families "experienced hunger or having
had nothing to eat" in the three months prior to the time of the survey.
Faced with such statistics, Aaron hopes his food line will become an
alternative to the usual recourse of families who have too little to buy
proper meals: Rice with instant noodles, rice with salt, rice with sugar
or rice with coffee.
"These families don't buy coffee or sugar for the week; what they can
afford is what they need only for the day. That's their lifestyle. If
you ask if that's what they really want? No. It's what they can afford,"
said Aaron.
Drawing from the popular tingi (retail) idea, the Let's All Rice
Champorado and Arroz Caldo bring together all ingredients in one pack—85
grams of rice with tablea and sugar for the chocolate rice porridge, or
with ginger and pandan flavoring for the arroz caldo.
Aaron's company sources the tablea from the Cavite-based cooperative and
uses ginger and pandan harvested from his Pagsanjan farm, an 11-hectare
property he acquired in 1997 where he built his retirement home, a
reservation-only resort and manufacturing plant.
Apart from the two instant meal variants, the farm, named after Aaron's
Pagsanjan-born wife, is also set to produce new soup and rice varieties
playfully called Souprice.
Aaron, a chemical engineer, is currently developing instant rice with
sinigang (vinegar stew) and bulalo (beef shank soup) variants. These
instant meals are scheduled for market release at a price of P17.50.
Social relevance
"To us, this is our project with social relevance and we feel that we
can be a party to nation-building, so to speak. We are not a
philanthropic organization so we need to generate funds as well so we
can plow back [to the business] to make it sustainable," Aaron said.
To reach his target market, Aaron introduced his Let's All Rice line in
sari-sari stores and public markets.
Such strategy is similar to the supply chain he and his son Raymund, a
2009 entrepreneurial management graduate from
Ateneo de Manila University, has drawn up to market their "sabanana
chips" products.
The younger Aaron took the lead at the banana chips business shortly
after it started in 2008.
"That was the time when there was a boom in social enterprises. So it
was a very new and very interesting field that was emerging," said Raymund.
The banana crisps, made with produce from local farmers then cooked and
packed by local workers in Laguna, are distributed to school canteens,
offices and restaurants instead of supermarkets, where Aaron says the
product would contend with wholesale haggle.
"It's a very different business model in the sense that we have a
different back end on how we produce, and we also have a different front
end on how we distribute," said the younger Aaron.
The Laguna banana chip plant produces 8,000 packs of banana chips a day,
consuming the same amount (8,000 pieces) of bananas from farmers in
Pagsanjan and nearby towns of Magdalena and Cavinti, Aaron said.
"It's very profitable how it was set up. But when you say profitable,
it's not the way the multinationals look at how profitable business
should be," said Aaron.
"I think, more than anything else, the most fulfilling part of our job
now is the social entrepreneurship, providing sustainable livelihood for
the people," he added.
Apart from these for-profit ventures, the Aaron family is giving back to
the local community through a weekly feeding program they recently
started at a school near their farm in Barangay Dingin, Pagsanjan town.
The program provides arroz caldo and champorado to some 50 children from
kindergarten to second grade right after Mass and catechism on Saturdays.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Friday, November 9, 2012
ADB eyes finance program for cash-strapped SMEs
ADB eyes finance program for cash-strapped SMEs
Published on 09 November 2012 Hits: 27 Written by MAYVELIN U. CARABALLO
REPORTER
A new finance program that will help cash-strapped small and
medium-sized enterprises (SMEs) in Asia and the Pacific, and improving
companies' access to affordable working capital is being created by the
Asian Development Bank (ADB).
On Thursday, the Manila-based lender announced that it is creating a
Supply Chain Finance Program (SCFP) that will bring in over $1 billion
to unlock financial resources caught in the supply chain, and thereby
improve companies' access to affordable working capital that helps
support jobs and incomes.
ADB said that it is supplying up to $200 million for the SCFP, which
will revolve at least twice a year because of the short-term maturities
involved in supply chains.
Furthermore, the lender noted that the $200 million is estimated to
attract an additional $300 million, at least, in private sector
investment through the SCFP.
"Many small companies currently face lags of 30 [days] to 180 days
between the time they ship goods and when payments are received, leaving
them short of cash flow that forces some to slow production or delay the
processing of other contracts," said Philip Erquiaga, director general
of ADB's Private Sector Operations Department.
ADB explained that the ongoing global economic downturn has exacerbated
the challenges facing many companies, with buyers putting greater
pressure on suppliers to extend their payment terms, and on distributors
to shorten their payment terms.
With this condition, the lender stated that the SCFP will improve
suppliers' and distributors' access to cash flow within a supply chain,
meaning that they will be able to expand operations and employ more people.
ADB also remarked that it has made substantial progress in supporting
trade through the Trade Finance Program (TFP), which has an annual
turnover of about $4 billion without any defaults and which focuses
support for trade in the poorest developing Asian countries, adding that
the program is limited to assuming bank risk for cross-border transactions.
The lender further said that the new SCFP will complement the TFP by
assuming non-bank commercial risk for both cross-border and domestic
transactions within a supply chain.
The new program will also provide affordable finance to many SMEs, some
of which may have traditionally not been considered bankable, it added.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Published on 09 November 2012 Hits: 27 Written by MAYVELIN U. CARABALLO
REPORTER
A new finance program that will help cash-strapped small and
medium-sized enterprises (SMEs) in Asia and the Pacific, and improving
companies' access to affordable working capital is being created by the
Asian Development Bank (ADB).
On Thursday, the Manila-based lender announced that it is creating a
Supply Chain Finance Program (SCFP) that will bring in over $1 billion
to unlock financial resources caught in the supply chain, and thereby
improve companies' access to affordable working capital that helps
support jobs and incomes.
ADB said that it is supplying up to $200 million for the SCFP, which
will revolve at least twice a year because of the short-term maturities
involved in supply chains.
Furthermore, the lender noted that the $200 million is estimated to
attract an additional $300 million, at least, in private sector
investment through the SCFP.
"Many small companies currently face lags of 30 [days] to 180 days
between the time they ship goods and when payments are received, leaving
them short of cash flow that forces some to slow production or delay the
processing of other contracts," said Philip Erquiaga, director general
of ADB's Private Sector Operations Department.
ADB explained that the ongoing global economic downturn has exacerbated
the challenges facing many companies, with buyers putting greater
pressure on suppliers to extend their payment terms, and on distributors
to shorten their payment terms.
With this condition, the lender stated that the SCFP will improve
suppliers' and distributors' access to cash flow within a supply chain,
meaning that they will be able to expand operations and employ more people.
ADB also remarked that it has made substantial progress in supporting
trade through the Trade Finance Program (TFP), which has an annual
turnover of about $4 billion without any defaults and which focuses
support for trade in the poorest developing Asian countries, adding that
the program is limited to assuming bank risk for cross-border transactions.
The lender further said that the new SCFP will complement the TFP by
assuming non-bank commercial risk for both cross-border and domestic
transactions within a supply chain.
The new program will also provide affordable finance to many SMEs, some
of which may have traditionally not been considered bankable, it added.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
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Family website - http://www.anifamily.net
Skype name: carlosaniph
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Special loan window for teachers sought
Special loan window for teachers sought
Home Updated November 08, 2012 12:12 PM
Public and private school teachers may soon be granted a special loan
window in the Government Service Insurance System (GSIS) and Social
Security System (SSS) that would cater to their loan applications once a
bill filed in the House of Representatives is enacted into law.
Rep. Winston Castelo (2nd District, Quezon City) filed House Bills 6624
and 6625 extending assistance to teachers of either private or public
schools to expedite the processing of their loans with a special loan
window dedicated specially for them.
The bill to be known as the "Private School Teachers Special Loan Window
Act of 2012" and "Public School Teachers Special Loan Window Act of
2012," will entitle every bonafide member of the SSS and GSIS the right
to avail and apply for a loan or financial assistance under the Special
Loan Window as may be granted for every private and public school
teacher by the systems at interest rate of repayment lower than the
prevailing interest rate.
"Unlike any other profession, teaching is perhaps the type that calls
for the need that teachers become the role models themselves," Castelo said.
Castelo said teachers both in private and public should be empowered to
lead simple but decent lives free from the dangers or risks of having to
borrow money or financial resources from "loan sharks" who now have run
a profitable cottage industry catering to the rather sad socio-economic
plight of a sizeable population in the teaching profession.
"It is the intent of the measure to help the teacher sector cope with
hard times given certain hardships that they are prone to finding
themselves in. In other words, their improved salaries and allowances
have not truly reached a desired point where there will be no need for
them to look for sources of funds through loans or lending schemes that
result, most often, in them being badly victimized by loan sharks,"
Castelo said.
Under the measures, any other form of financial assistance that could be
availed of, particularly an emergency loan, should be deemed different
and separate from this special loan window.
--
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CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
Home Updated November 08, 2012 12:12 PM
Public and private school teachers may soon be granted a special loan
window in the Government Service Insurance System (GSIS) and Social
Security System (SSS) that would cater to their loan applications once a
bill filed in the House of Representatives is enacted into law.
Rep. Winston Castelo (2nd District, Quezon City) filed House Bills 6624
and 6625 extending assistance to teachers of either private or public
schools to expedite the processing of their loans with a special loan
window dedicated specially for them.
The bill to be known as the "Private School Teachers Special Loan Window
Act of 2012" and "Public School Teachers Special Loan Window Act of
2012," will entitle every bonafide member of the SSS and GSIS the right
to avail and apply for a loan or financial assistance under the Special
Loan Window as may be granted for every private and public school
teacher by the systems at interest rate of repayment lower than the
prevailing interest rate.
"Unlike any other profession, teaching is perhaps the type that calls
for the need that teachers become the role models themselves," Castelo said.
Castelo said teachers both in private and public should be empowered to
lead simple but decent lives free from the dangers or risks of having to
borrow money or financial resources from "loan sharks" who now have run
a profitable cottage industry catering to the rather sad socio-economic
plight of a sizeable population in the teaching profession.
"It is the intent of the measure to help the teacher sector cope with
hard times given certain hardships that they are prone to finding
themselves in. In other words, their improved salaries and allowances
have not truly reached a desired point where there will be no need for
them to look for sources of funds through loans or lending schemes that
result, most often, in them being badly victimized by loan sharks,"
Castelo said.
Under the measures, any other form of financial assistance that could be
availed of, particularly an emergency loan, should be deemed different
and separate from this special loan window.
--
---------------------------------------------------------------------
CARLOS ANI - International Microfinance Consultant - SEEDFINANCE Corporation Chairman
Mailing address: PO Box 90 UPLB Los Banos Laguna, Philippines 4031
Emails: carlosani@gmail.com , carlosani@seedfinance.net
Landline Phone: +63495010127 (PLDT)
Cellphone Numbers: +63926277-8044 (TM)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
SEEDFINANCE Corporation - http://www.seedfinance.net
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.posterous.com
http://phildevfinance.blogspot.com
FORWARD PHILIPPINES - http://forwardphilippines.wordpress.com/
My News Clippings - http://www.myclipps.posterous.com
Family website - http://www.anifamily.net
Skype name: carlosaniph
--------------------------------------------------------------------
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