Mar 072015
 
Poor man’s rich man

It looks like fish. It smells like fish. When unsold and unmarketable, it usually rots and goes to waste.  But not so in the fisherfolk community in Iligan, where excess catch of fish in season are collected for livelihood. It’s like chicken dung gathered by another community in Naawan, Misamis Oriental, and coconut husks collected from copra farms by a cooperative of former rebels who laid down their arms for life with society. Rotten fish, chicken dung, coconut husks – all biowastes that can be converted to organic fertilizers that communities can sell and make a living out of. For them, it is a way to resist poverty through their own productive work. But this is just half of the story. Someone helped these communities organize to gather lowly raw materials from their own vicinities. Someone supplies the secret ingredient and process to make fertilizers; someone teaches them how to manufacture. Finally, someone helps them sell their produce. Most of the proceeds stay with these folks and a part they remit to their technology provider, trainer, marketer and business partner. That “someone” is a social entrepreneur named Nanette and her enterprise is called Ecosystems Work for Essential Benefits, Inc. (ECOWEB). Before she empowered communities, she used her education as an agriculture engineer to formulate an inoculant to produce organic fertilizers and pest repellants. I am reminded of the phrase born out of weariness: “so much work for so little.” Social entrepreneurs give this phrase a proud new meaning. They work Read More …

Mar 072015
 
SEC steps up campaign vs Emgoldex

MANILA, Philippines – The Securities and Exchange Commission (SEC) has intensified its campaign against Emgoldex Philippines, an alleged fraud entity that is not registered to operate in the country. “This commission has received information about the proliferation of bogus SEC public advisories concerning Emgoldex Philippines that bear the SEC logo or appear to have been issued by the commission or signed by any of its officials,” the country’s corporate regulator said in its recent public advisory. The SEC last month already issued a warning to the public against investing their money with Emgoldex Philippines which claims to offer huge returns for every investment. Despite the earlier notice, however, fake SEC public advisories from Emgoldex Philippines have continued to surface.  “Any public offering or solicitation of investment in the Philippines without the prior license or permit from the SEC is strictly prohibited by law and may be penalized by imprisonment and/or fine,” the corporate regulator said.  “There is no distinction whether the investment offering is made through the Internet or in a commercial or public place as long as the investment solicitation is indiscriminately offered to the public in general within this jurisdiction,” it said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The SEC reiterated that based on its existing records, Emgoldex is not a registered corporation or partnership in the Philippines. Thus, the agency said the entity is not licensed or authorized to solicit investments from the public in the country.  “With regard to the claim that Emgoldex Read More …

Mar 072015
 
MNTC taps Maybank for payment solutions

MANILA, Philippines – Manila North Tollways Corp. (MNTC), the tollways arm of infrastructure giant Metro Pacific Investments Corp. (MPIC), has tapped Maybank Philippines Inc. to streamline check preparation and releasing transactions. Rodrigo Franco, president and chief executive officer of MNTC, said the check cutting service would make it more convenient for the company to settle its account with its supplies. MNTC operates the 87-kilometer North Luzon expressway (NLEX) and has recently bagged the concession for the 94-kilometer Subic-Clark-Tarlac expressway (SCTEX) from the Bases Conversion and Development Authority (BCDA). “The deal will enable MNTC to focus more on operating and maintaining the NLEX rather than doing the cutting and releasing of checks. It will also give more convenience to our suppliers due to Maybank’s accessible locations,” Franco said. For his part, Maybank president and chief executive officer Herminio Famatigan Jr. said MNTC could use selected Maybank branches or all branches nationwide to release check payments under the check cutting services agreement. “Through Maybank’s payment solution, the Check Cutting Service, MNTC will enjoy the convenience of outsourcing the preparation and releasing of their regular check payments to suppliers,” Famatigan said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Maybank’s check cutting service is an outsourcing solution for corporate customers that handle the preparation and nationwide disbursement of voluminous check payments to their suppliers and payees. The outsourcing solution automates clients the check and voucher preparation and enhances the client’s productivity while maintaining security, control and confidentiality of their financial transactions. This Read More …

Mar 062015
 
Software firm iRipple sells assets

MANILA, Philippines – Listed software solutions provider iRipple Inc. has completed its divestment after selling all its assets worth P24 million to management solutions firm Movmento Inc. In a disclosure to the Philippine Stock Exchange, iRipple said its board approved the sale of substantially all of its operating assets and assignment of liabilities to Movmento. The listed company said it sold for P23.75 million all its assets, including equipment, furniture and fixtures, motor vehicles to Movmento. It also assigned its rights in its trademarks, copyrights and investment in subsidiaries to the latter. “The company sold substantially all its assets to Movmento in preparation for a contemplated change in primary purpose of the company,” iRipple said. “This sale would render the corporation incapable of continuing the business or accomplishing the purposes for which it was incorporated. This is in line with the preparations for the contemplated change in primary purpose,” it added. iRipple’s board of directors approved the sale of all of its assets to a third-party in December last year in preparation for a planned change in primary purpose into a holding company. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 iRipple was incorporated on November 2000 to establish, operate, develop, manage and provide software solution projects and related businesses as well as to engage in trading of computer hardware and software products. The shell company is behind Barte Merchandise Management Solution (MMS), a locally developed software solution designed to support the entire merchandising operations of businesses engaged in Read More …

Mar 062015
 
Delegates fine-tune Cebu Action Plan

COME September, finance ministers from Asia Pacific Economic Cooperation (Apec) member-nations will be in Cebu for the three-day Finance Ministerial Meeting to firm up a road map that the Philippines is proposing to make the region more inclusive. Deputies from finance ministries and central banks of Apec nations met in Tagaytay recently to fine-tune the Cebu Action Plan, a plan to make Apec member-nations more financially integrated, transparent and resilient. The plan is anchored on four pillars: promoting financial integration, advocating financial transparency, enhancing financial resiliency, and supporting infrastructure development and financing. The plan will officially be launched during the Apec Finance Ministers’ Meeting in Cebu. This year, the Philippines is hosting the Apec Summit and the country has chosen inclusivity as an agenda to make economic growth instrumental in reducing poverty, a report posted on the Apec 2015 Philippines website stated. “Financial interconnectivity of Apec member-economies and their close linkages in the global financial markets make the region exposed to the risk of a global market liquidity dry-up and other market volatilities. As such, Apec economies must also build buffers to protect it from these financial market disturbances,” Philippine Treasurer Roberto Tan was quoted as saying during the opening remarks of the deputies’ meeting. According to the website, efforts to boost inclusivity and economic resiliency are ongoing across the region, but delegates agreed that more needs to be done. For the Philippines, regulations that improve accessibility of credit to micro, small and medium enterprises, and increases in allocations for Read More …

Mar 052015
 
Inflation inches up to 2.5% in Feb

MANILA, Philippines – Inflation climbed to 2.5 percent in February from an 18-month low of 2.4 percent in January as a result of the price increases in oil and other utility, the Philippine Statistics Authority reported yesterday. Inflation was 4.1 percent a year ago. The current figure brings the year-to-date average to 2.4 percent,  within the Bangko Sentral ng Pilipinas’ 2.2 to three-percent forecast for last month and near the lower-end of its full-year target of two to four percent. Without food and oil prices, core inflation rose to 2.5 percent in February from 2.2 percent in January. “Inflation over the policy horizon is seen to remain manageable,” BSP Governor Amando M. Tetangco Jr. said in a text message to reporters. “While we see the stance of policy still appropriate at this time, we continue to watch global developments, including possible strong reversals in oil price trends and changes in investor sentiment which could create market volatilities and affect inflation expectations,” Tetangco said. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The BSP last month kept key policy rates steady as inflation expectations fell within the target ranges for this year and the next. The overnight borrowing and overnight lending rates were last tweaked in the third quarter of 2014 to anchor inflation expectations. Looking at inflation by region, the rate in the National Capital Region went up to 2.2 percent in February from 1.5 percent in January. Areas outside the capital, meanwhile, saw the rate fall to 2.6 Read More …

Mar 052015
 
Seminar on valid contracting set

MANILA, Philippines – The Center for Global Best Practices invites business owners, management decision makers, HR practitioners, lawyers and all those in outsourcing businesses to attend a one-day pioneering seminar entitled “Best Practices Guide to Valid Job Contracting and Subcontracting” scheduled on April 16, at Edsa Shangri-La Hotel, Mandaluyong City. For details and a complete list of seminars including Best Practices in Crafting HR Policies and Contracts, Best Practices In Crafting Your HR Code of Discipline, A Guide To Valid Dismissal, How To Structure and Compute for Wages and Salaries with the New Tax Exemption Limits, log on to www.cgbp.org or call (02) 842-7148/59 and 556-8968/69; Cebu lines (032) 512-3106 or 07; Baguio line (074) 423-5148; and Legazpi Line (052) 736-0148.