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Looking for Paypal Alternative?

Roy — Wed, 25 May 2011 06:23:13 +0000

Paypal is one of the most common and widely online payment payment system. Entrepreneurs, more often than not, apply for Merchant Accounts to get the added features not available to personal accounts, and both buyers and suppliers somehow trust those with merchant accounts better than those with personal accounts. A merchant account would get more transactions easier, as long as the entrepreneur is professional in his dealings with his buyers and suppliers.

However, in spite of the popularity of Paypal, there are some who are still looking for PayPal Alternative because either they can’t get approved, they do not have credit cards, or their country is not included in the Paypal’s list.

And there are a lot of them, actually. If someone is looking for other online payment portals aside from Paypal, a simple search through Google or Yahoo could give them a long list of the different online payment sites.

There are some Credit Card Processing Companies who might even recommend you online payment portals where you can a merchant account. Or you may also check the website Free Merchant Account Advisor because they reviewed different payments sites. That way you can choose the best alternative for Paypal that fits your requirement.

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New reimbursement payment scheme to be adopted by Philhealth

Roy — Mon, 09 May 2011 10:27:19 +0000

A new payment system that will replace the present “fee for service” scheme in reimbursing hospitals will be adopted by the Philippine Health Insurance Corp. (Philhealth) and hopes to implement it next month.

The Philhealth plans to adopt a new system called the “case payment” system which will have fixed rates for medical services and surgical procedures to reimburse hospitals for treatment of Philhealth members.

Senior manager of benefits and development and research department of Philhealth Dr. Israel Francis A. Pargas said the case payment system will cover both medical and surgical procedures. He said the board discussion on the new scheme is almost over.

Pargas presented a draft during the recent annual convention of the Philippine College of Physicians (PCP), of the proposed amounts that can be reimbursed by hospitals on specified surgical and medical cases.

Among the fixed rates for service and procedures are: hemodialysis, P4,000; radiotherapy, P3,000; caesarian section, P15,000; Medical Care Plan (MCP), P8,000; appendectomy, P26,000; hysterectomy, P30,000; cholecystectomy, P31,000; dilation and curettage, P11,000; mastectomy, P22,000; herniorrhaphy, P21,000; and thyroidectomy, P31,000. For other diseases, reimbursement for essential hypertension case will be P9,000 and typhoid fever is P14,000.

Pargas said, “The new case rates shall be the new reimbursement for all the specified cases. It will apply to all claims by eligible Philhealth members and dependents admitted in accredited facilities.” He noted that the new scheme will moderate the financial risk to Philhealth and will provide high financial protection to beneficiaries and members and would mean less administrative cost for hospitals and Philhealth because it will not need any itemization.

According to Pargas, under the current reimbursement scheme which is the fee-for-service method, there is a high risk to payors, Philhealth and members and is also incentive for fraud. The present system also results in high administrative cost for hospitals.

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Aquino not keen on new taxes

Roy — Wed, 04 May 2011 12:25:21 +0000

President Benigno “Noynoy” Aquino III is not keen on new taxes just to increase the income of the government, instead he said that existing tax exemptions or incentives should be reviewed. Aquino said that rationalization plan for fiscal incentives is being discussed and stressed that the government would continue on its efforts to increase revenues by improving tax collections.

“At this present time, none of my economic managers are indicating that there is such a need (for new taxes). And again, the priority still is improving the tax collection efficiency,” the president said. He also mentioned of a pending bill aiming to lift certain tax exemptions to address the need for a better system of collection and noted that some of the incentives are “outdated, not realistic,” compared to the others being given by the government.

The president said he already ordered his economic managers to study and review the fiscal rationalization plant of the government as well as tax incentives already given to multi-national companies in order to improve tax collection.

The International Monetary Fund (IMF) urged the Philippine government to broaden its tax base and strengthen tax administration by overhauling its excise tax system on sin products and rationalizing its fiscal incentives to raise much needed revenue to bankroll social and infrastructure spending. The IMF said this is crucial to the Aquino administration’s commitment to trim the budget deficit to two percent of gross domestic product starting 2013 from the current level of 3.3 percent of GDP.

The IMF’s latest Public Information Notice dated March 1 reads: “Achieving the deficit targets and increasing social and infrastructure spending will require substantial revenue efforts, including broadening the tax base and strengthening tax administration.”

The executive board of the IMF recommended early actions to reform excise taxes, rationalize fiscal incentives and address gaps in the value added tax (VAT), complemented by reforms to strengthen the budgetary framework, and control of the civil service wage bill.

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SSS reports payments of benefits for 2010 up by 7%

Roy — Fri, 22 Apr 2011 08:06:03 +0000

The Social Security System (SSS) reported that its benefit payments for 2010 has increased by 7% to P77.17 billion, with the bulk of the payment going to retirement claims and death benefits. SSS president and chief executive officer (CEO) Emilio de Quiros Jr. said in a statement that the state-run agency paid P38.23 million to more than 800,000 retiring members last year while another P27.65 billion went to death benefits of families of about 740,000 members.

De Quiros said, “SSS entitles workers to many types of benefits. Monthly contributions help members save for retirement and give them a safety net during contingencies that disrupt their capacity to earn.” The pension fund provides retirement, sickness, maternity, disability, death and funeral benefits. Membership to pension fund is mandatory for private sector employees and self-employed workers.

The pension fund chief earlier proposed an increase of 0.6% in the contribution rate to 11% and P5,000 increase in the maximum monthly salary credit. De Quiros said that if his proposal is approved, the adjustment would allow the agency to implement a 10% across-the-board pension increase, give pensioners a P500 one-time grant, as well as hike other benefits.

“The average monthly pension is about P3,500 and we want pensions to be nearer the amount of their last salary. Members are being deprived of proper benefits because of limitations in the SSS structure, which we are now trying to adjust gradually,” he said. “The small steps we are taking are also directed toward a perpetual SSS fund life. The proposed reforms would add 7 years to the SSS fund life, extending in from 3029 to 2046,” he added.

De Quiros also noted that the contribute rate being used the pension fund is much lower than that being used by the Government Services Insurance System (GSIS) which is 21%.

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Eastern Communications receives ISO 9001:2008 certification

Roy — Sat, 16 Apr 2011 21:33:34 +0000

The country’s telecommunications pioneer that provides landline, data, Internet and broadband services Eastern Communications, announced that it has received the International Organization for Standardization ISO 9001:2008 certification for its quality management system.

The ISO 9001:2008 is an international recognition of standards that defines quality. Receiving this certification is an indication that the organization conforms to a quality management system, which can consistently provide a product or service that meets customer and applicable regulatory requirements.

Eastern Communications is the first telecom company in the Philippines to receive the certification for its entire system of operations. Eastern directors for QA, regional sales and customer care Bernie Bernardino said that the certification means assurance that Eastern’s products and services conform only to the highest international standards in the industry.

“The achievement of the ISO 9001:2008 certification is indeed a major milestone for Eastern Communications, as it is the only major telecommunications company in the country today that has this recognition from the International Organization for Standardization in all its sales, network and support functions,” he said.

Bernardino said the certification was not received overnight. It took nearly a year to accomplish with Eastern’s certification partner, TÜV SÜD, an international service corporation focusing on consulting, testing, certification, and training, represented by its auditor, Lance Xavier Dy.

Dy said that there are around 700 companies from the public and private sectors and abroad comprising international and multinational business have received ISO 9001:2008 certification. “I hope Easter Communications continues to improve and engage in ISO 9001 as a culture rather than mere compliance to the international standard,” he added. “The certification should help the company strive for greater heights.”

Bernardino said, “The certification introduces the new world-class brand of Eastern Communication today as one of our competitive advantages. It demonstrates further our continued commitment to the highest level of quality management and design to ensure the delivery of quality telecommunications solutions and services.” He added that the certification also means Eastern is committed to innovating on the way it serves its customers and greater efficiency in all its vital operating areas.

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Metro Pacific bids to run and maintain LRT and MRT

Roy — Sat, 16 Apr 2011 09:01:55 +0000

The Department of Transportation and Communications (DOTC) sent invitations to qualified parties to submit an expression of interest for the interim contract (4+1 years) of the operations and maintenance of Light Rail Transit (LRT) 1 and Metro Rail Transit (MRT) 3 system.

One of those who submitted a letter of intent was the subsidiary of Metro Pacific Investments Corp. (MPIC), Metro Pacific Light Rail Corp. (MPLRC). The MPLRC filed its expression of interest for an interim contract to undertake the operation and maintenance of both the LRT1 and MRT3.

According to MPIC, its proposal submitted is more comprehensive as it includes, among others, a long term O&M, capacity and rehabilitation of MRT3 and its integration to LRT as one system. In support to the government’s public-private partnership (PPP) program, the company agreed not to interpose any objection to the bidding of the interim O&M contract for LRT1 and MRT3 on the undertaking that in line with government’s transparency policy and in accordance with MPIC’s rights as a stakeholder in the Metro Rail Transit Corp. (MRTC), the rights of the latter over MRT3 will be fully disclosed in the terms and reference of the bidding for the said interim contract.

The company also stressed that it has not withdrawn its proposal to expand MRT3 which it submitted to the DOTC last January 17. The MPIC said it maintains its position that the private shareholders of MRTC have the legal right to assert MRTC’s rights over the maintenance of MRT as well as the expansion rights over MRT, both contained in the existing build-lease-transfer (BLT) agreement.

Likewise, the MPIC will not object to the bidding of the LRT1/MRT3 O&M contract provided that the maintenance and expansion rights in the existing BLT agreement are recognized and disclosed in the TOR for said bidding.

The MPIC controls about 64.07 percent of MRTC after acquiring the 28.04 percent interest of the Sobrepeña-led Fil-Estate group as well as the interest of other shareholders such as Anglo Philippine Holdings Inc., DBH Inc. and Railco Investment Inc.

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BSP said banking system in the country is stable

Roy — Mon, 21 Mar 2011 07:52:31 +0000

The Bangko Sentral ng Pilipinas (BSP) said that despite the closure of Banco Filipino Savings and Mortgage Bank last week, the country’s banking industry remains sound and stable. BSP Governor Amando M. Tetangco Jr. said they have not monitored any negative impact on the banking industry sine Banco Filipino was ordered closed by the Monetary Board (MB) last March 17.

“As we said in our statement, the banking system remains sound and stable. We have not observed any negative impact on the rest of the banking system,” he stressed.

Monetary authorities believe that 2010 was a banner year for the Philippine banks contributing largely to the country’s stronger-than-expected economic growth. Bank deposits went up by 9.8 percent to P5.1 trillion last year while banks’ loans posted a double-digit growth of 11 percent to P2.314 trillion as of January.

Income of Philippine banks doubled to about P4.1 billion as of end-June last year from P20.5 billion as of end-June 2009. The total assets of the banking system rose by 7.2 percent to P6.7 trillion as of end-September last year from P6.2 trillion as of end-September 2009.

The BSP reported that the banking system posted a capital adequacy ratio of 15.23 percent on solo basis and 16.21 percent on consolidated basis as of end-June last year. This ratio was well above the 10 percent minimum requirement of the BSP and the 8 percent standard ratio of the Basel Accord.

The implementation of BSP Circular 639 or the implementing regulation on the International Capital Adequacy Assessment Process (ICAAP) this year would further strengthen the country’s financial sector. And to add to that, BSP also raised the minimum capital requirement for new entrants in the banking industry to boost their competitiveness and further strengthen the country’s banking system.

From the P325 million, the BSP raised the minimum capital requirement for thrift banks to P1 billion for those with head offices in Metro Manila. For those whose head offices are in Cebu and Davao, the capital requirement was raised from P52 million to P500 million. In other areas, minimum capital requirement for thrift banks was also raised to P250 million from P52 million.

This capital requirement will be implemented on new thrift banks, those converting their existing banks to a thrift bank, and those relocating their head office in areas of higher classification.

The minimum capital requirement for rural banks was also raised by BSP last November. For those with head offices in Metro Manila, it is now P100 million from the previous level of P26 million; for those whose head offices are located in Cebu and Davao, it was increased from P13 million to P50 million. Those in municipalities belonging to first to fourth class, it was raised to P10 million from P6.5 million, and those in the fifth to sixth class municipalities, it was raised P5 million from a previous P2.6 million.

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Desktop printing business

Roy — Mon, 28 Feb 2011 13:32:16 +0000

There was a time when desktop printing business was a very profitable option. Invitations were printed almost everyday. It is still a good business now, actually. Especially with the availability of the continuous ink system or CIS which makes the cost of printing much cheaper.

You can accept printing of wedding invitations, programs, and flyers if you know how to work with photo editing software like Adobe Photoshop. If you are good in graphics designs, customers will always go back to you.

Business Cards are another popular products of those with in the desktop printing business. These are very consumable and therefore people would always have to print them.

The key really is, good photoshop skills. If you know to make eye-catching graphics, that you got a good chance in this business.

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Business name registration now only takes 15 minutes

Roy — Wed, 20 Oct 2010 14:35:06 +0000

From the usual two days processing time, the amount of time spent in registering a business name has been cut to only 15 minutes because of the enhanced Electronic Business Name Registration System (eBNRS).

Trade Secretary Gregorio Domingo said, “The entire transaction will only take around 15 minutes. The actual processing takes only three minutes and the waiting time usually takes 10 minutes. So it’s really the waiting that makes the transaction time long, but still it’s only 15 minutes.”

The Department of Trade and Industry (DTI) conducted a random time-and-motion study in different parts of the country. In their study, Metro Manila averaged 278 business name applications in a day with a total processing time placed at 14.35 minutes. In areas where there were fewer applications, the average transaction time were even shorter, ranging from 5 to 12 minutes.

Aside from the faster registration of business name, the eBNRS allows the registration of the all the branches of a company in just one sitting, and the registration of a business in a different locality in the DTI office nearest the business owner. “The new system gives businessmen less hassle in doing business in the country. Our aim in automation is to lessen people handling the process and allow technology to hasten transaction. In a way it makes government transaction transparent and prevents corruption in the workplace,” Domingo said.

The system will also be made available online, according to the secretary. Aside from the eBNRS, Domingo said that the DTI is also working on the Philippine Business Registry (PBR), which is a one-stop shop for businesses that want to get mayor’s permit, and registration and licenses from the DTI, Securities and Exchange Commission (SEC), and other agencies. The system will also be made available for the application of Pag-Ibig, Social Security System (SSS), and Philhealth benefits.

“Business won’t have to go to each of the agencies in order to register. It’s still under development because we don’t want any glitches to happen once we launch it. We’re hoping to finish this before the end of the year,” Doming said.

This is really a good motivation for entrepreneurs and would-be entrepreneurs.

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Faster business registration process at Quezon City

Roy — Sat, 21 Aug 2010 00:43:43 +0000

It’s called BOSS, short for business one-stop shop, an initiative by the Quezon City Government that aims to lessen the burden of businessmen when securing business permit. Launched last Friday, officer-in-charge for the Business Permit and Licensing Office Pacifico F. Maghacot, Jr. said they are expecting to have at least 12,000 new businesses within the year with their new system. “The simplified procedures in licensing will drive individuals to invest or start a business,” he said.

Under the BOSS, Maghacot said that registrants can obtain a permit in nine minutes or a maximum of nine days if the business is requiring an ocular inspection, a process that took three weeks in the old system. “Before, the applicants had to go to all the officers like zoning official, building official, fire official, health and sanitation official, register the business and go to the city treasurer for payment which takes a long time,” he said.

In the new system, business applicants will just need to fill up a business application form, pay the corresponding fees to the city treasurer, and proceed to the Department of Trade and Industry’s Philippine Business Registry System. “All the steps are located in one office so the system is faster,” Maghacot said.

Location clearance, fire and safety inspection certificate and sanitary permit can be submitted by applicants after three months, but they can start operating their businesses even without the permit. “The aim is to encourage the formalization of business and spur investment by reducing the time cost and steps for new business registration at the city level,” Maghacot added.

He noted that there were 8,937 new businesses which have registered in the city from January to the end of July. With the new system, he said that the city expecting an increase of 8% in business registrants for 2011.

BOSS was set up with the technical support from International Finance Corp. (IFC), the financing arm for private sector of World Bank. IFC is also partnering with the cities of Marikina, Mandaluyong and Manila for the same project.

Rashad Kaldany, vice-president for Asia, Eastern, Europe, Middle East and North Africa, said during the launching that BOSS “will help invigorate the private sector and support sustainable economic growth.”

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Lower remittance fees starting 3rd quarter

Roy — Tue, 25 May 2010 10:05:38 +0000

A lower fees in their remittances will be enjoyed by overseas Filipino workers (OFWs) and their beneficiaries starting on the third quarter of the year. According to the Bangko Sentral ng Pilipinas (BSP), this will materialize once the the Philippine Payments and Settlements System (Philpass) Remit System becomes fully operational.

Remittances sent through the Philpass Remit System would result in savings of between P100 and P500 per transaction for the OFWs and their families. The current system charges for remittances is between P150 and P550 per transaction.

“This will reduce the cost of remitting money from the OFW remitter to the beneficiary. Under the existing system, beneficiaries pay from P150 to P550 as back-end processing fee. With the migration to the new system, the fee will be reduced to P50 for each remittance transaction as the BSP will be charging banks a minimal amount for the settlement of transactions,” the BSP explained.

The Philpass Remit System involves the use of the BSP-Philpass as the local clearinghouse for the transfer of remittances from a local bank to another bank where the OFW beneficiary maintains an account. “The Philpass ensures safer, faster, and cheaper means of remittance transactions,” BSP added.

The new remittance system is being undertaken by the BSP in cooperation with the Association of Bank Remittance Officers Inc. (ABROI) through a memorandum of agreement (MOA) signed last December. It was originally scheduled to be implemented during the first quarter of the year, but it was deferred because only one bank was able to migrate to the new signing since the signing of MOA.

BSP said other member banks would soon be migrating once they resolve the remaining issues on hardware and system connectivity.

Once the new Philpass is fully implemented, OFW families are expected to save at least P92 million to as high as P922 million due to the faster and cheaper delivery of remittances to the beneficiaries at a lower rate of P50 per transaction instead of the current range of between P100 to P550.

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Website security testing

Roy — Mon, 24 May 2010 13:45:03 +0000

Website Security Testing and the Importance of a Daily Website Security Audit

Living in a bad neighborhood, it’s important to know where you can safely get a nice meal and a drink, as well as the back alley places you should avoid because gunshot wounds tend to be unhealthy. Websites are the same way. You don’t want to shop someplace that’s not safe. You’re laying down your banking information in plain sight. If the website doesn’t undergo website security testing, you might as well be waving $20 bills in some dirty back alley and asking to be robbed.

Website security makes your website secure, not only for yourself, but the safety of your customers and their information. When you undergo a website security audit, all your systems are checked thoroughly so that you and your customers can rely on a safe and secure website.

Most companies typically report nearly 2/3 improvement in sales after undergoing website security testing. If they pass their Website security audit, they can display their website security seal to instill consumer confidence. If a hole should be found in the security system, they are given details on how to fix it and time to get it done. Assuming they fix it in a certain amount of time, the business can still display the security seal so there’s no lag in consumer confidence.

It’s is critical to hire a company that will perform a website security audit daily. You need to be absolutely sure your system is secure. If it’s not, you need to know right away so you don’t compromise your customers’ information. A website security seal earns your customers trust, but only if you’ve undergone sufficient Website security testing.

You wouldn’t shop in a blind alley, nor should you shop at a website that doesn’t undergo website security testing. Your customers know the importance of website security. Show them they can trust you by undergoing a daily website security audit. Don’t put the financial futures of your customers at risk. Prove to your customers that it’s safe to shop at your website.

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SSS collects from delinquent employers

Roy — Mon, 03 May 2010 00:54:18 +0000

Total collections reaching an amount of P127.74 million have been gathered by the Social Security System (SSS) from overdue contributions from delinquent employers.

The state-owned pension fund for private employees was able to collect the said amount under an amnesty program offered by the agency to delinquent employers, in order to help workers regain access to social security benefits and loans, said SSS spokesman Joel Palacios.

For the amnesty program, Palacios said there were a total of 1,173 employers who have availed, with 46 percent of which have paid their delinquencies in full and the rest availed of the installment payment option.

The employers who fully paid in cash totaled P59.95 million while those who availed of the installment payments, which represent the encashed post-dated checks and five percent down payment, amounted to P67.79 million.

Palacios said, “In the spirit of Labor Day celebrations, we call on employers to uphold their duties to their workers under the Social Security Law.” He added that part of the employer’s responsibility is to ensure that they are updated in remitting their employees’ contributions. The delinquent remittance of employers’ contribution to SSS has been a perennial problem of the agency.

Payment of contributions is a major factor in determining members’ eligibility for SSS benefits, which protect workers and their families during times of disability, maternity, sickness, old age or retirement and death, said Palacios. These are also verified whenever the agency grants loans to members.

The social security agency has implemented a six-month amnesty program to allow employers to settle their delinquencies to the pension fund managers without paying the corresponding penalties. Usually, SSS charges a three percent monthly penalty for late contributions. Palacios said employers still have until the end of July to settle their obligations to the agency.

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More passport applicants avail of the new appointment system

Roy — Sat, 13 Mar 2010 23:51:29 +0000

The new appointment system at the new consular building of the Department of Foreign Affairs (DFA) is in full swing after it was launched last March 9. The agency said around 55% of people who apply for passport daily have used the system which allow them to complete the process of applying for their passport within 30 minutes as long as they have complete supporting documents.

With the new system, passport applicants with appointments for the day will be ushered directly to the processing area to have their documents verified. After which, they will proceed to the second floor to pay the passport fees.

Data capturing section follows where applicants would have their photo, thumb mark and signature taken, which the agency said only takes around six minutes for the biometrics to be taken.

The DFA added service windows to streamline the application process. In the data capturing section one, there are now 60 windows from a former 12. They said the new system has been getting positive feedbacks thus far.

The DFA encourages passport applicant to use the appointment system for quick and comfortable service. They can check the requirements by logging in at the DFA website or by calling their hotline (02) 737-1000 which is open 24 hours. During office hours, the DFA help lines to call are (02) 831-8971, (02) 551-4437, (02) 551-4402, (02) 834-4855 and (02) 834-4424.

A new consular building was recently opened by the agency in Bradco and Macapagal Avenues in Aseana Business Park, near the Mall of Asia. This new facility is the home of the ePassport, electronic authentication system, electronic visa system, and digitalized consular records system.

The DFA also said that there are a total of 18 DFA Regional Consular Offices spread around the country providing consular services to Filipinos outside Metro Manila. The 18 regional offices are located in Bacolod, Baguio, Batangas City, Butuan, Cagayan De Oro, Cebu City, Cotabato, Davao, General Santos City, Iloilo City, Legaspi, Lucena, Puerto Princesa, San Fernando in La Union, San Fernando in Pampanga, Tacloban, Tuguegarao, and Zamboanga

“Filipinos who reside in the provinces need not come to Manila to get a passport. They only have to go to the DFA regional office nearest to them and avail of the same fast and efficient services,” Foreign Affairs Secretary Alberto Romulo said.
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UP named 27 personnel as UP Artists

Roy — Fri, 12 Mar 2010 13:45:20 +0000

The University of the Philippines (UP) recognized the works of its 27 artists and art scholars who brought honors to the UP and have contributed to the national development. They were elevated to the rank of UP Artist last month in an awarding ceremony held at the Executive House in UP Diliman.

The university established UP Arts Productivity System (APS) to honor and support its distinguished and productive artists. The 27 awardees were the first ones to be recognized under the said system. APS was conceived as art counterpart of the UP Scientific Productivity System (SPS), UP’s upgraded version of the government’s Scientific Career System.

The artists’ were categorized as Artist I, Artist II and Artist III.

Named Artist III for literature were Jose Dalisay Jr., and National Artist for Literature Virgilio Almario. Josefino Chino Toledo received the same recognition for music while Nicanor Tiongson was recognized for his contribution in arts scholarship, film and theater.

Awardees for Artist II were Janet Sabas-Aracama for music; Josefina Estrella for theater; Leonilo Doloricon for visual arts; Eugene Evasco for literature, arts scholarship and theater’ Patrick Flores, arts scholarship; Jose Neil Garcia, literature and arts scholarship; Cristina Pantoja Hidalgo, literature and arts scholarship; Gerardo Rey Lico, visual arts, architecture and arts scholarship; Rolando Tolentino (literature and arts scholarship); Rosario Torres-Yu, literature and arts scholarship; and Basilio Esteban Villaruz dance and arts scholarship.

For Artist III, awardees were Ramon Maria Acoymo, music; Fernando Austria, TV, radio and other media, and theater; Grace Javier Alfonso, arts scholarship, film, TV and other media; Jonas Baes, music; Yason Banal, visual arts; Ruben Defeo, arts scholarship; Alexander Cortez, theater; Ricardo de Ungria, literature, Raymundo Maigue, music; Cesar Hernando, visual arts, film, TV and other media; Raul Navarro, music; and Victor Emmanuel Nadera, literature.

Most of the awardees are based in UP Diliman, except for two who are based in UP Mindanao and UP Open University.

In the said awarding system, a set of rigorous standards were used by the university to evaluate its UP faculty members and research staff. As such, the recognition is conferred by the school only to those it deem most deserving.

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Beverage company received environment compliance award

Roy — Sun, 28 Feb 2010 15:24:37 +0000

The Laguna Lake Development Authority (LLDA) was awarded Asiawide Refreshments Corp. (ARC), the licensed manufacturer and distributor of RC, the blue rating award. The recognition given to the company for its successful compliance with the environmental standards set by the LLDA.

The blue rating award is a system used by LLDA to monitor the environmental performance of local government units and industrial/commercial enterprises, through its public disclosure program. ARC, who have bestowed the said award for two consecutive years, is the only carbonated softdrink manufacturer who received the said recognition.

The LLDA program aims to reduce air and water pollution from industries. A blue or green (the highest) rating is an indication that the company meets, or even surpasses, the agency’s standard. Companies who fall short of the standard, or whose environmental efforts are inadequate or totally nil, are given a red or black rating.

ARC was to have been doing a lot of green projects for a long time now, they have supported initiatives such tree planting. “Since 2002, when we were first building the plant, we already took that in consideration of the overall design. We completed it in 2003. As our market share grew and our production volume increased, our efforts with LLDA compliance became more intense. That’s when they saw that we we’re complying,” said Butch Aves, VP-manufacturing/technical services of ARC.

The company earned the recognition for its waste water management which is in compliance with LLDA’s Environmental User Fee System with Wastewater Charge System of the Department of Environment and Natural Resources under the Philippine Clean Water Act of 2004.

Aves said that the company plant, located in Antipolo, discharges water into a stream, which inevitably flows into Laguna Lake. But the company’s treatment facility exceeds even the standards set by LLDA. The current standard is 50 mg/liter while ARC’s plant has a concentration of 35 mg/liter.

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Globe gets BSP nod to expand GCash network

Roy — Fri, 29 Jan 2010 22:52:48 +0000

The Globe Telecom’s mobile commerce subsidiary G-Xchange (GXI) request of using its parent’s sub-distribution as GCash outlets has been approved by the Bangko Sentral ng Pilipinas (BSP), which brings the number of GCash remittance outlets to over 18,000 making it the largest remittance network in the Philippines.

“Our distribution system is one of our most valuable assets and combined with our current GCash network of partners will help us significantly expand our efforts towards providing a vehicle for financial inclusion to more Filipinos all over the country. We are truly grateful to the BSP for its foresight in seeing the potential and groundbreaking precedence that this opportunity brings to the financial services industry,” said Globe president and chief executive officer Ernest Cu.

“This is really a very important step for us as we move forward by using the pervasive Globe distribution network to further expand the GCash services with more outlets. BSP’s approval will allow us to improve our ability to truly bring remittance and micro-financial service points to more neighborhoods across the Philippines, and we are committed to continue fully complying with regulations that will ensure financial integrity and the protection of consumers,” said GXI president Rizza Maniego-Eala, who said the their efforts in expanding the GCash outlet network will help lower the delivery cost of remittance and access to various financial services.

With the Philippines geographically fragmented with 70 to 80 percent of the population still unbanked or underbanked, Globe’s GCash network allows people, especially those in the rural areas the chance to gain access to financial services. At present, GCash has are about 1.2 million users and has an average transaction value of P5 billion a month.

With GCash, receiving international remittances is made easy and affordable for the beneficiaries of OFWs. And from the traditional GCash outlets – Globe Business Centers, rural banks, pawnshops and other remittances partners, beneficiaries would be able to go to their neighborhood sari-sari stores, gift shops, pharmacies, Internet cafes, boutiques, bakeshops, and various stores nationwide.

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GSIS selling its Philex share to First Pacific

Roy — Tue, 26 Jan 2010 01:29:03 +0000

The Government Service Insurance System (GSIS) has entered into a conditional sale agreement with the Hong Kong-based First Pacific Company (FPC), which is represented by its local affiliate Two Rivers Pacific Holdings Corporation. The deal will see First Pacific buying approximately 5.9 percent interests of GSIS in Philex Mining Corporation for P6.02 billion.

The FPC said in its disclosure to the Hong Kong Stock Exchange, it is buying the 286.78 million shares of GSIS in Philex at P21 per share. An acquisition that would bring the company’s stake in Philex to 46.6 percent.

Two Rivers, following the completion of the Conditional Sale Agreement, will increase its ownership in Philex to approximately 15.1 percent, in addition to the 31.5 percent economic interest in Philex held by the First Pacific Group.

The Philippine legal counsel, however, has advised FPC that the acquisition of the Philex shares by Two rivers will not give a rise to a mandatory tender offer obligation because the Target Shares constitute less than 35 percent of the outstanding shares of Philex.

Likewise, the shares will be acquired after the lapse of the twelve-month period from First Pacific’s initial purchase, through its wholly owned subsidiary, Asia Link B.V. on November 28, 2008 of approximately 20.06 percent of the common shares of Philex.

Prior to the conditional sale, Two Rivers already had 9.24 percent interest in Philex, which it acquired for P9.49 billion from shareholders Roberto Ongpin, Walter Brown and Development Bank of the Philippines (DBP).

With the acquisition of FPC of the GSIS share, it will be fulfilling its objective of acquiring shares in Philex so as to increase its aggregate interest up to 40 percent. The company said it plan to expand and develop the group’s mining strategies in the Philippines.

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New ID system from SSS

Roy — Fri, 22 Jan 2010 01:12:21 +0000

A new identification system which is said to help facilitate people’s transactions with government agencies is being planned as the Social Security System (SSS) and the Philippine Postal Corp. (Philpost), tied up together for the implementation of the said ID system.

SSS president and chief executive officer Romulo Neri said during the signing of agreement between SSS and Philpost, said the tie-up between the two agencies combines the use of the so-called Unified Multipurpose Identification System (UMID) for them. “The partnership with Philpost widens the usage of UMID card, which would also pave the way for electronic-based remittance services for overseas workers through the Philpost in the future,” he said.

With the UMID card, SSS members would be able to get payments for pensions, loans and other benefits through Philpost’s nationwide network of about 2,200 post offices, with more than half of which also function as money transfer offices presently.

To help Philpost upgrade and develop its remittance system, Neri said SSS would provide them a P1-billion loan which would be secured by real estate properties as collateral. SSS is the led agency tasked to implement the UMID system.

On March this year, SSS would be rolling out the first wave of UMID cards for its members, as well as those of the Government Service Insurance System (GSIS).

SSS and Philpost would just be the first ones, Neri said that soon members of other government agencies, like the Home Development Mutual Fund, (HDMF) or Pag-IBIG Fund, the Philippine Health Insurance Corp. (Philhealth) and even the Commission on Elections (Comelec), would also be covered by the said system.

Neri said they aim to produce a total of 12 million cards in the next five years. The UMID upgrades the current SSS ID system which is currently in use.

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GSIS reiterated 60-day notice for availment of early retirement

Roy — Fri, 15 Jan 2010 23:52:40 +0000

The Government Service Insurance System (GSIS) reminded the all government offices of the requirements for those who wants to avail of early retirement to ensure the delivery of their benefits, the first one of those requirements being that the availment should be submitted at 60 days prior to their preferred retirement date.

The GSIS said it is requiring the early notification of the early retirement in order for them to have more time in reconciling the retiring members’ accounts. Winston Garcia, GSIS president and general manager, said government agencies must fully comply with all the requirements to ensure the success of the retirement program.

“The success of this activity would require the cooperation and full support of all agencies by providing us the names of their employees below 65 years old who intend to avail of early retirement,” he said.

For employees who will retire at age 65, which the compulsory age of retirement, Garcia said there is no need for the agencies to submit their names. The government pension fund manager is prioritizing the reconciliation of premium and loan payments of prospective retirees to facilitate the timely and accurate computation of their benefits.

There are four retirement modes in GSIS. These are all mandated under R.A. 660 which took effect in 1951; R.A. 1616 in 1957; Presidential Decree 1146 in 1977; and R.A. 8291 which took effect in 1997.

The R.A. 660, also called Magic 87, adds up the age of the member and the years he has rendered in service. If the sum is 87, he will be qualified to retire under the said R.A. with pension. This provision, however, is applicable only to employees who have entered government service before June 1 of 1977.

R.A. 1616, on the other hand, requires the government employees to have rendered at least 20 years of service, regardless of age and employment status. The last three years of his service prior to his retirement must be continuous, except in cases of death, disability, abolition, or phase out of position due to reorganization.

Meanwhile, P.D. 1146 allows the employee to retire at the age of 60, provided he is a permanent employee and has rendered at least 15 years in service. P.D. 1146 involves the pension benefit from the amended R.A. 660.

Lastly, the R.A. 8291 gives the retirees two options: a five-year lump sum or the 18-month cash payment pension. An employee who wants to avail of this must be at least 60 years old and has rendered a minimum of 15 years in service.