M Lhuillier, J&T Express sign deal
M Lhuillier Financial Services has announced its partnership with J&T Express, one of the Philippines’ most trusted and emerging courier companies. The contract signing was held last May 18 at La Vie Parisienne in Gorordo, Cebu City.
This partnership will allow M Lhuillier branches nationwide to accept shipments for delivery to any destinations in the Philippines, fulfilled by J&T Express. This means that Filipinos, especially SMEs and independent online sellers located in areas where there is no access to courier hubs, can now drop off their goods at the nearest M Lhuillier branch.
This partnership signifies M Lhuillier’s evolution from a “pawnshop” and “money remittance company” to a multi-faceted institution that has ventured into various services, including lending, money exchange, insurance, travel and tours, telco loading, and now, logistics services.
Customers can expect to see the new service offerings from the two companies beginning on May 19, with additional services to be rolled out towards the end of the year.
GSIS ready to assist members, pensioners to be hit by typhoon ‘Betty’
State pension fund Government Service Insurance System (GSIS) President and General Manager Wick Veloso has announced recently that it is preparing its emergency loan program to assist members and pensioners nationwide who may be adversely affected by the upcoming typhoon. Veloso said GSIS has earmarked P6 billion for the program.
Under the loan, members who have existing emergency loan balance may borrow up to Php40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of Php20,000. Those without existing emergency loan may apply for Php20,000. Pensioners are also eligible to apply for a loan of Php20,000.
The loan comes with a 6% interest rate and has a repayment period of three years. It includes a redemption insurance feature, which ensures that the balance will be deemed fully paid in the event of the borrower’s death, as long as payments are up-to-date at the time.
Eligible applicants must be active members, not on unpaid leave, with a minimum of three months’ paid premiums within the last six months. They should have no pending administrative or criminal case and maintain a net take-home pay of at least Php5,000 after all mandatory monthly deductions.
Members who are unqualified for an emergency loan may apply under the Multi-purpose Loan (MPL) Plus which has a maximum loanable amount of Php5 million.
While pensioners have the alternative option to apply for the enhanced Pension Loan program, allowing them to borrow either up to six months’ worth of their pension or up to Php500,000.
FINSI recognized for training programs, people-centered initiatives
Fiber Infrastructure and Network Services Inc. (FINSI), a subsidiary of the Asticom Group of Companies, was recognized at the recent 2023 Asian Telecom Awards for its efforts to upskill Filipino telecom practitioners and prioritize employee safety.
The engineering and technology solutions provider won the “Technical Training Initiative of the Year” award, which recognizes the company’s people-centered initiatives and commitment to providing quality training programs and knowledge of cutting-edge technology that simulate real-world conditions.
The Asian Telecom Awards acknowledges telco companies that stand out and are able to navigate their way despite various challenges in the market while providing relevant and award-winning products and services to their clients.
FINSI’s mission is to bridge people by accelerating connectivity nationwide through innovative solutions and services. With expertise in telecommunications and expansion in the energy and infrastructure industries, FINSI contributes to the improvement of the Filipino technological infrastructure and its status on the global stage.
Philippine Business Bank’s net income surges 57.7% to ₱488.8 million
Philippine Business Bank (PSE: PBB) reported net interest income of ₱5,547.4 million in 2022. Core income reached ₱3,085.3 million, up 10.4% from ₱2,794.2 million in 2021.
Pre-tax pre-provision profit was at ₱2,683.1 million. Profit before tax rose to ₱1,862.5 million in 2022. Net income reached ₱1,311.4 million, 12.3% higher YoY.
Total resources reached ₱134.6 billion as of December 2022. Total net loans and receivables stood at ₱103.5 billion as of end-Dec 2022 from ₱91.7 billion in the same period last year, increased by 12.9% YoY. On the funding side, deposit liabilities were at ₱114.5 billion as of YE2022. Low-cost deposits (“CASA”) ended at ₱62.0 billion, while time deposits (“TD”) reached ₱52.5 billion.
Shareholders’ equity was at ₱14.6 billion, equivalent to a book value per share of ₱21.68 net of preferred shares. Returns on assets and equity improved to 0.97% and 9.00% owing to net income growth. Net interest margin (“NIM”) at 4.33%. The Bank’s capital adequacy ratio (“CAR”) was 13.85% and minimum liquidity ratio (“MLR”) at 21.75% in December 2022, above the adjusted statutory requirement of 16.0% (from 20.0%). Over the last five years, the Bank’s net book value per share net of preferred shares has grown 7.8% per year, from ₱14.92 in 2017 to ₱21.68 in 2022.
On the balance sheet side, PBB’s loan portfolio grew 12.9% YoY as credit activity began to gain Momentum. Deposit liabilities also increased to ₱114.5 billion while maintaining a CASA:TD ratio of 54:46. In the first-quarter of 2023, PBB raised a total of ₱1.75 billion capital which comprises the ₱1.25 billion private placement and ₱500 million from its stock rights offering (“SRO”).
Cool down as much as you want this summer with Cetaphil
Leading dermatologist-recommended brand Cetaphil, the globally renowned name for sensitive skincare, recently released a new product called Cetaphil Ultra Protect Antimicrobial Cleansing Bar. It is a gentle antimicrobial cleanser that uses advanced technology to ensure skin hydration—allowing you to wash up as much as you want this summer, without damaging your skin.
Cetaphil Ultra Protect cleanses and protects the skin with 99.9% germ protection and keeps you intensely moisturized, making it an ideal choice for outdoor activities. Its 3D DERMA-MIMIC Technology and ingredients of Glycerin, Vitamin B5 & B3 have been proven to effectively wash away bacteria while respecting the skin’s moisture barrier.
Cetaphil Ultra Protect Antimicrobial Cleansing Bar is ideal for those who enjoy activities without worrying about how frequently washing may dry or damage their skin. So, enjoy the summer, and let Cetaphil take care of your skin the healthy way. We Do Skin, You Do You.
Cetaphil Ultra Protect Antimicrobial Cleansing Bar is now available at all leading drugstores, groceries, and online via their official Shopee and Lazada stores.
Japan, PHL sign Phase 2 of MRT-3 rehabilitation
On May 26, Chargé d’Affaires ad interim Kenichi MATSUDA of the Embassy of Japan and Foreign Affairs Secretary Enrique Manalo signed the exchange of notes for the yen loan that will finance the “Metro Rail Transit Line 3 Rehabilitation Project (Phase 2)”. The maximum amount for this loan is approximately 17.4 billion yen.
MRT-3 is the major elevated railway line that runs along Metro Manila’s busiest route. In the past, the line’s railroad and rolling stock deteriorated due to a lack of proper maintenance, resulting in reduced transportation capacity and frequent operational problems. Accordingly, drastic rehabilitations were carried out as part of the Phase 1 project, restoring the line’s safety, comfort, and high speed using Japanese knowledge and technology.
In this second phase of the project, Japan will assist the MRT-3’s continued maintenance and will connect it to the Common Station for passengers’ seamless transfer to LRT-1, MRT-7 and the Metro Manila Subway. This Phase 2 project is expected to improve passenger convenience and promote the use of public transportation, contributing to sustained economic growth and reducing environmental burdens.
FinTech industry launches nationwide cybersecurity education campaign
The Philippines’ premier digital and fintech association FinTech Alliance.PH launched a multistakeholder national cybersecurity awareness and education campaign tagged #WagMagpalokoMagingScamAlerto! aimed at educating millions of Filipino smartphone and online users against phishing scams, on May 29, at Shangri-La The Fort in Taguig City.
The campaign is being led by the FinTech Alliance in partnership with the Bangko Sentral ng Pilipinas, National Bureau of Investigation, Philippine National Police, Anti-Money Laundering Council, Securities and Exchange Commission, Insurance Commission, National Privacy Commission, National Telecommunications Commission, Department of Trade and Industry, telecommunications companies, consumer groups, and media groups.
The leading FinTech organization also jump-started the first cohort of the Cambridge FinTech Regulatory and Innovations (FTRI) Program through the partnership between the Judge Business School of the University of Cambridge in Southeast Asia and Mapua University.
The two initiatives by the Alliance were among the key events in their recent General Membership Meeting with the theme, “Accelerating the Philippines’ digital economy and unlocking the power of consumer education on cybersecurity.” BSP Governor Felipe Medalla, who swore in the new corporate members, gave a keynote speech titled, “The Current Philippine Digital Landscape: What’s Next Beyond the Digital Payments Transformation Roadmap.”
An outlook on the Philippine Economy was also given by S&P Global APAC Chief Economist Rajiv Biswas highlighting the country’s trajectory towards being a one trillion US dollar economy by 2033.
FinTech Alliance.PH, the Philippines’ premier and largest digital and fintech association, is composed of startups and unicorns that account for over 95 percent of digital-initiated transactions volume in the country. It has 100 corporate members today.
The best cooling comfort from Sharp
With a wide variety of offerings, Sharp provides the best quality through its innovative technologies and features. It is a reliable partner at home that will not only provide convenience but also provide maximum comfort and savings.
Sharp offers a variety of Split Type AC products ranging from 1.0hp, 1.5hp, 2.0hp, and 2.5hp, in Premium, Standard, and Basic categories. The standard model is equipped with Plasmacluster Ion (PCI) Technology while the premium model has an additional AIOT feature for added convenience. Sharp also offers window type category AC with both inverter and non-inverter type.
Sharp refrigerators not only provide the best cooling experience, but they also provide the best care for its customers by providing innovative technologies for all their needs, and for all types of home and lifestyle.
Recognized as the ‘Most Trusted Brand’ for refrigerators by Reader’s Digest. Sharp prioritizes safety, high endurance and style. The new model for 4-Door No Frost Inverter(SJ-FTF525BVP-DS), has gained recognition in the IF Design Award 2021.
One unique feature equipped in Sharp AC and Refrigerator products is the J-Tech Inverter Technology, which provides maximum energy savings. For AC, it can save as much as 65% matched with its eco mode feature.
Sharp’s original Plasmacluster Ion (PCI) Technology deactivates airborne viruses and bacteria by up to 99.9% by releasing positive and negative ions in the air that helps eliminate viruses, odors and allergens.
PCI Technology is also incorporated into its refrigerators, which helps keep food fresh and prolongs its life.
