Maniolas

Both FVR and Deng Xiaoping were reported to have minimized the breathtaking accomplishments of Lee Kuan Yew by pointing out Singapore only has five million people. Yes, there are more complicated problems here and in China but they still sound like sour grapes to me. Lee Kuan Yew is about a leader with a vision, the determination and pragmatism to see the vision become reality against great odds. It is about leading by example, a selfless dedication to the good of one’s country with little or no thought of personal gain. It is about strategic thinking and how to move one’s country amidst stiff competition and changing times. An article in Foreign Policy calls LKY a political streetfighter more respected than loved. FP also describes Singapore’s economic miracle as perhaps the most miraculous. “In a small, speck of a country cast off from Malaysia in 1965, without natural resources or a common unifying culture, Lee accomplished more in a generation than anyone thought possible.” Some of our politicians say LKY was successful because he had dictatorial powers. True but Marcos had dictatorial powers too.  The big difference is that LKY was honest, had integrity. He used his powers to discipline his people into thinking of common good above self interest. Marcos used his powers to enrich himself and his cronies. Business ( Article MRec ), pagematch: 1, sectionmatch: 1  There was a time when I suggested, not just in jest, that we should hire LKY after his retirement to help Read More …

MANILA, Philippines – Security Banking Corp. has a new chairman in erstwhile president and chief executive officer Alberto S. Villarosa, while Alfonso L. Salcedo Jr. is the new president and CEO effective April 28. In a report to the Philippine Stock Exchange, the bank said its board of directors also named Frederick Y. Dy as chairman emeritus. In a statement, Dy, the outgoing chairman, said the organizational change with the promotion of Villarosa to chairman manifests continuity of Security Bank’s overall business strategy formulation and execution. “The appointment of Salcedo as president and chief executive officer, with his 30 years of experience in retail banking and finance, will serve well in reinforcing our consumer bank strategy as a third pillar to complement the bank’s existing strengths in wholesale banking and financial markets,” he said. He added that Villarosa and Salcedo will carry Security Bank forward among Asean’s best managed institutions in terms of good governance and sustainability to enhance shareholder value. Salcedo, meanwhile, has been connected with the Bank of the Philippine Islands (BPI) for decades. His last post was as head of the corporate banking division. Prior to this post he was president of BPI Family Savings Bank. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Salcedo leaves a lasting legacy in the corporate banking business of BPI, a bank that is built on the individual talent and collective strength of its people. Salcedo is an asset to any organization that he elects to join,” BPI president and Read More …

MANILA, Philippines – Prices of basic goods are seen to remain stable even as the government approved a pay hike for minimum wage earners in Metro Manila, the Department of Trade and Industry (DTI) said. Trade Secretary Gregory Domingo said in a text message the minimum wage hike in Metro Manila is not expected to result in an increase in the prices of basic goods. Last week, the Regional Tripartite Wages and Productivity Board composed of  representatives from labor and management and the government such as the DTI, National Economic and Development Authority and Department of Labor and Employment (DOLE) approved the P15 wage increase of 587,000 minimum wage earners in Metro Manila. With the wage hike approved, DOLE-National Capital Region director Alex Avila said the take home pay of minimum wage earners will increase by 3.2 percent to P492.57 per day from P477.03 daily and they will also enjoy higher 13th month pay and increased social security coverage. Like in the past year, he said employers are expected to be able to bear the cost of increase without hindering their growth and expansion as well as ability to provide more jobs. As the wage increase is at three percent and wage is just a component of overhead of production cost which averages five percent, Trade Undersecretary Victorio Mario Dimagiba said there should be no impact on the prices of basic goods. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Should manufacturers plan to raise their prices, he said: “they Read More …

MANILA, Philippines – The Department of Budget and Management (DBM) has approved the release of P199 million to the Bureau of Fire Protection (BFP) in the Autonomous Region for Muslim Mindanao (ARMM) for the procurement of 33 fire trucks. Among the municipalities that  will get one fire truck each include Lanao Del Sur, Maguindanao, Basilan, Sulu, and Tawi-Tawi. This release is part of the P22.47 billion supplemental budget passed last December. “These fire trucks are the final element needed to complement the recently-constructed fire stations in the ARMM municipalities. That’s why we need to guarantee budgetary support for agencies like the BFP whose main task is to ensure public order and safety. With the help of these agencies, we’ll be able to establish an environment of social stability in areas that need it so that inclusive development can thrive and grow,” Budget Secretary Florencio Abad said. Each of the 33 recently-constructed ARMM fire stations will receive one water tank pumper truck, which has a capacity of 3,800 liters. These fire stations are located throughout the five ARMM provinces – Lanao Del Sur, Maguindanao, Basilan, Sulu, and Tawi-tawi – and their construction was completed in 2013. “It’s important to reiterate that we were able to fund priority projects like these fire trucks with the help of the 2014 Supplementary Budget, which was finalized late last year. What’s more, this release will help promote public order and safety even as it provides important services in areas made vulnerable by violence,” Abad said. Read More …

MANILA, Philippines – Snack food manufacturer Mondelez Philippines Inc. (MPI) has launched new products unique to the Filipino market to support higher sales. In a briefing, MPI country head Ashish Pisharodi said the company is introducing new products to cater to the Filipino market’s preference as to better serve customers. “While we are a global company, we try to think local,” he said. Among the new products launched to cater to the Filipino market is the Oreo Coconut Delight cookies which are made from coconuts sourced from the Philippines but are manufactured in Indonesia. Aside from Oreo Coconut Delight, MPI is also offering new flavors of powdered beverage Tang such as calamansi, dalandan and honey lemon, exclusively for the Philippine market. Pisharodi said the new offerings, which were just made available to the market this month, are expected to help drive higher sales for the company. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 He declined to give a sales target, but said that the company expects faster growth in younger business categories such as biscuits and chocolates, than in mature categories like cheese and powdered beverage. This, as MPI’s brands in the cheese and powdered beverage categories already hold the top spot in the market. “Essentially, the mature categories for us are powdered beverage and cheese. We are already leading,” Pisharodi said citing that Eden is the number one cheese brand here, while Tang is the biggest powdered beverage brand. “For biscuits, we set significantly higher targets (than Read More …