There are no atheists in foxholes or ideologues in a financial crisis.
– Too Big to Fail
More than meeting present needs, fulfilling future requirements.
The true measure of an industry’s commitment to community service and development is its ability and willingness to stay, stick around for the long haul.
It is not only about liberating host communities from the bondage of underdevelopment; it is also about empowering and including them into the mainstream of society and the economy.
And an energy firm is showing the way one community at a time
Atimonan One Energy, Inc. recently initiated a three-day workshop to help local officials of Brgy. Villa Ibaba in Atimonan, Quezon come up with a barangay development plan.
The plan gives local officials a more solid roadmap on how they can maximize the benefits that the residents would get from a 1,200-megawatts high-efficiency, low-emission coal-fired power plant that A1E will be building in the area.
Under the ER 1-94, power plant developers are mandated to allot one-centavo per kilowatt-hour of its electricity sales to its host communities which they can use for electrification of communities that have no access to electricity, environment enhancement, livelihood, reforestation and watershed management, and health-related projects.
More than P80 million is expected to be remitted to the host communities – from the region up to the resettlement area -- through ER 1-94 each year.
Of the total, Barangay Villa Ibaba is expected to get an allocation of about P17 million.
The barangay is also expected to benefit from A1E’s payment of local taxes.
BSP douses price
The positive assessment is a source of modest comfort for investors, consumers, and even financial regulators.
The overall economic growth prospects for the rest of the year may have been downscaled, but the domestic price outlook stays safely within range, according to expectations of monetary authorities.
In a statement on the medium-term inflation outlook, the Bangko Sentral said:
The September 2019 inflation of 0.9 percent is within the BSP’s forecast range of 0.6 – 1.4 percent and is driven by the continued decline in rice prices and electricity rates, which offset higher prices of petroleum and selected food products. The latest inflation outturn is likewise consistent with the BSP’s prevailing assessment that inflation will continue to decelerate in Q3 2019 and pick up slightly in the remaining months of 2019.
The BSP continues to expect average inflation to firmly settle within the target range of 3.0 percent ± 1.0 percentage point for 2019 - 2021.
The recent volatility in global crude oil prices due to geopolitical tensions in the Middle East could generate upward price pressures over the near term.
On the other hand, deepening trade tensions between China and the US along with other countries in the region have raised global economic uncertainty, which poses a downside risk to the inflation outlook.
The BSP will continue to keep a close watch over latest economic developments here and abroad to ensure that the monetary policy stance remains consistent with the BSP’s price stability objective while being supportive of economic growth.”
Acudeen tackles credit gap
Another milestone, achieved!
ANC recently covered Acudeen's story through our CEO and founder, Magellan F. Fetalino.
The rich discussion tackled the challenges of the Philippine credit gap and how it is solved through and by the company.
The show also discussed how Acudeen is now part of Endeavor, a New York-based organization that seeks to "select, mentor, and accelerate the best High-Impact Entrepreneurs around the world".
Meanwhile, Acudeen joined the event as a panelist speaker for the Digital Forum, which focused on Driving MSMEs to Digital Transformation.
It shared during the forum its digital platform and how the fin-tech start-up used technology and the digital space to advance businesses, especifically to make e-credit available to MSMEs.
The 12th run of #MoneyMarketEncounter Region 3 took place at Kingsborough International Convention Center, San Fernando, Pampanga last September 16.
Among PH’s best firms
Corporate and executive excellence should be its own reward.
But it doesn’t hurt if it is acknowledged and celebrated by the international investment community, fund managers, and financial analysts.
International Container Terminal Services, Inc. is leading local publicly-listed companies as the top-of-mind choice of investors for the company’s governance and financial excellence, clinching six awards, including Southeast Asia’s Best Chief Financial Officer for Rafael D. Consing Jr. at the recently-concluded 9th Institutional Investor Awards for Corporates by Alpha Southeast Asia.
Mr. Consing, ICTSI senior vice president, chief financial officer, and compliance officer, was cited as Southeast Asia’s Best CFO. He was named best Philippine CFO in 2017
Among Philippine companies, ICTSI was cited as having the Strongest Adherence to Corporate Governance and the Most Organized Investor Relations Company; whilst second in having Best Senior Management IR Support and Most Consistent Dividend Policy.
ICTSI joins 24 other PLCs in Southeast Asia that were recognized this year during the annual Institutional Investor Awards, which gauges performance in financial management, adherence to corporate governance, integrated reporting, corporate social responsibility & investor relations.
More than 494 investors, asset and fund managers, and analysts across the region, as well as US and Europe joined the poll from March to July 2019.
Established in 2007, Alpha Southeast Asia is the region’s leading investment magazine, with reporting focus on Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Congratulations to the individual and institutional awardees!
Behold God’s glory and seek His mercy.
Pause and pray, people.