corporate

SEC-Cagayan de Oro reminds corporations of june 30 AFS deadline submission

June 10, 2020

The Securities and Exchange Commission – Cagayan de Oro Extension Office (SEC-CDOEO) reminds all corporations for the submission of Audited Financial Statements (AFS) which is due this June 30, 2020. The Northern Mindanao and Caraga Regions’ Stock and Non-Stock corporations whose fiscal year ends November 30, 2019 and December 31, 2019 are obliged to submit their AFS together with the General Information Sheet (GIS) otherwise corresponding penalties will incur.  Atty. Renato V. Egypto, Director for SEC-CDOEO in a statement reminds all corporations to file and submit their reports “For all corporations, it is best to file early as now for us to avoid crowd or mass gathering. The SEC-CDOEO has been open to accept submissions since the occurrence of pandemic in the region”.  SEC-CDOEO accepts walk-in submissions from Monday to Friday (8:00AM – 5:00PM). Preemptive measures are observed in the office and thus, clients are directed to follow.  For areas with travel restrictions, clients may send their reports via courier with mailing address: SEC Bldg., Tomas Saco Del Lara Sts., Macasandig, Cagayan de Oro City.  Sending through e-mail (soft copies) is also accepted however will be deemed as partial submission considering that hard copies will complete the requirements. With this, electronic signatures, and unnotarized documents are temporarily allowed. Reports have to be submitted through reports_cdo@sec.gov.ph.  This submission is in pursuance to the Revised Corporation Code, under Sec. 177 (a) which requires all corporations to submit their annual financial statements to be audited by an independent Certified Public Accountant, however, if total assets or total liabilities of the corporation are less than Six Hundred Thousand Pesos (Php 600, 000.00), the financial statements shall be certified under oath by the Corporation’s treasurer or chief financial officer.  The reportorial requirements shall be submitted annually and within such period as may be prescribed by the Commission.  The AFS other than the consolidated financial statements, shall have the stamped “received” by the Bureau of Internal Revenue (BIR) or its authorized banks, unless the BIR allows an alternative proof of submission for its authorized banks (e.g. bank slips).  Late filings shall have corresponding penalties as imposed by the Commission guidelines, and/or may place the Corporation under delinquent status in case of failure to submit the reportorial requirements three (3) times, consecutively or intermittently, within a period of five (5) years. The Commission shall give reasonable notice to and coordinate with the appropriate regulatory agency prior to placing under delinquent status companies under their special regulatory jurisdiction.  

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Unemployed Persons in Region X Rises to 236 thousand as of April 2020

June 10, 2020

Results of the April 2020 Labor Force Survey shows that unemployment rate in the region registered at 11.1 percent. This is the highest recorded unemployment rate since 2005. Unemployment rate in January 2020 was reported at 3.2 percent while April 2019 unemployment rate posted at 5.0 percent. In terms of magnitude, the total number of unemployed individuals as of April 2020 reached to 236 thousand, higher than the recorded unemployed persons in April 2019 at 121 thousand. In other words, there are 115 thousand more individuals who are unemployed as of April 2020 as compared to the same period in the previous year which reflects the impact of COVID-19 economic shutdown to the labor market. Lowest Unemployment Rate Among the 17 regions The region’s unemployment rate is lower than the national average of unemployment rate at 17.7 percent. The region also posted the lowest unemployment rate among the 17 regions. Employment Rate Drops to 88.9 percent Employment rate in the region fell to 88.9 percent in April 2020 from 96.8 percent in January 2020. In April 2019, employment rate registered at 95.0 percent. This translates to a decrease in the employed persons by around 400 thousand, that is, from 2.3 million employed persons in April 2019 to 1.9 million persons in April 2020. The region, however, recorded the highest employment rate among the 17 regions of the country. RUBEN D. ABARO, JR, CESE Regional Director BMC

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AboitizPower hydro unit utilizes P20.1M for host LGUs in Luzon and Mindanao

June 10, 2020

While a number of community quarantines throughout the country have been gradually eased, the battle against the pandemic is still far from over. Hedcor, AboitizPower’s run-of-river hydropower subsidiary, sticks to its commitment to power its host communities in Northern Luzon and Mindanao with Cleanergy.  To further assist the local communities recover from the plight of COVID-19, Hedcor is remitting a total of P20.1M of generation shares under the Energy Regulations 1-94 (ER 1-94) policy of DOE’s Electric Power Industry Reform Act (EPIRA). The ER 1-94 program allows Hedcor’s host communities to get a share of one centavo for every kilowatt-hour (P0.01/kWh) generated by Hedcor’s plant facility in the area. The revised provision of the ER 1-94 policy now allows direct remittance of funds from Hedcor to its host communities. While generating Cleanergy, AboitizPower’s brand of clean and renewable energy, Hedcor is able to further advance its partner communities’ development through ER 1-94. “In accordance with the Bayanihan to Heal as One Act, host LGUs can maximize ER 1-94 shares in mitigating the repercussions brought by the pandemic,” says Andy Faelnar, Assistant Vice President of Hedcor Group.  Faelnar added that the ER 1-94 funds are to be used for electrification, for development and livelihood programs, and for reforestation, watershed management, health, and environmental enhancement programs. But with the Bayanihan Act, host LGUs may now also opt to use this funding for the construction of COVID-19 facilities along with the procurement of medical testing kits and other supplies and necessities.  Additionally, Hedcor Group’s remittances before 2018 which are currently with DOE are also being downloaded by the agency to the local government units of the host communities. Beyond the streamlining of processes, Hedcor’s direct involvement in the actualization of projects places emphasis on the strong sense of partnership between Hedcor and its host communities. In Mindanao, the funds are to be received and utilized by over 12 barangays, four cities and municipalities, the province of Davao del Sur and Bukidnon, and Region XI. In Northern Luzon, the ER 1-94 funds are directed to host barangays in Benguet, Mt. Province and Ilocos Sur. Hedcor recognizes that in this trying time of uncertainty and fear, we are stronger together. The assistance provided by these funds are a supplement to Hedcor’s previous three-wave relief assistance, which was conducted in support over the government’s effort to flatten the COVID-19 curve, and prioritized the distribution of ready-to-eat goods and medical supplies.

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Robinsons Hotels and Resorts Plans for Re-opening and Keeping Guests, Hotel Teams Safe from COVID-19

June 9, 2020

Robinsons Hotels and Resorts (RHR), hospitality arm of Robinsons Land, is preparing for a soft reopening of select Go Hotels and Summit Hotels and Resorts properties around the Philippines.  In preparation, RHR has devised new ways to keep guests and hotel staff safe, including elevated standards of hygiene and cleanliness based on World Health Organization guidelines and Department of Health New Normal protocols. Throughout the quarantine period in effect since mid-March, RHR has kept over 50% of its homegrown hospitality brands – Go Hotels and Summit Hotels and Resorts – open to service the needs of long-term stay guests, mostly employees from business process outsourcing firms and repatriated OFWs complying with government guideline for auto-quarantine. With some LGUs announcing its transition from GCQ to MGCQ, RHR gears up for the re-opening of select hotels by June 16, 2020, starting with four of its provincial hotels: Go Hotels Iloilo, Summit Hotel Tacloban, Go Hotels Butuan and Go Hotels Iligan, respectively. “Since ECQ began on March 16, 2020, we have been closely monitoring the rapidly-changing situation around COVID-19, responding to new information as it arises and preparing for all possible scenarios, with the goal of continuing to safely serve you in our hotels and resorts”, said Arthur G. Gindap, Senior Vice President and Business Unit – General Manager, Robinsons Hotels and Resorts. “We know that people will travel again for leisure and to see family and friends. And when they do, Robinsons Hotels and Resorts will be ready to welcome them back." In addition to following the guidance provided by the World Health Organization, Philippine government, LGUs, Department of Health and Department of Tourism, RHR also consulted with a top sanitation expert – Ecolab – as they implemented the Circle of Clean protocols. Circle of Clean is the term for RHR’s elevated standard of hygiene and cleanliness developed with the aim to provide a worry-free stay experience for guests from pre-arrival to post-departure touch points implemented in all Go Hotels and Summit Hotels and Resorts around the Philippines. RHR’s Circle of Clean Protocols include but not limited to:  ·         Frequent cleaning and disinfection of high-contact public areas – from touch screens, computer keyboards, to door handles, hand railings, elevators, public bathrooms. ·         Consistent use of hospital-grade disinfectant in partnership with industry expert Ecolab, providing trusted products to meet the highest cleaning standards and ensure the peace of mind of owners, guests, and associates. ·         Temperature checks, foot bath, hand sanitizers, luggage sanitation and on-property signages reiterating social distancing and personal sanitation guidelines. ·         Contactless check-in and check-out via Self-service Kiosks (in select hotels), clear partitions at front desk and UV light sanitation of keycards before issue to guests. ·         Personal protective equipment for front office, housekeeping and food & beverage team members. ·         Weekly misting in all guest areas and regular deep cleanings as required to protect the safety of our guests and associates. ·         Modified food & beverage operations, including launch of pre-order/pick-up/ delivery at Café Summit and shift to pre-packaged set for breakfast, lunch and dinner. ·         Updated furniture spacing in restaurant and function venues to promote appropriate social distancing. ·         Best-in-class training programs for hotel staff on enhanced operating protocols at Go Hotels and Summit Hotels and Resorts.  “From the start of the booking journey on our brand websites to the pre-arrival email, we will be communicating our Circle of Clean protocols to our guests and will continue to build consumer awareness over the coming weeks,” said Joy de Mesa, Group Director of Sales and Marketing, Robinsons Hotels and Resorts. “This will include a targeted consumer media campaign to promote the Circle of Clean standards delivered via the hotels’ online channels and media partners. We have already communicated our approach to our corporate clients and in the process of empowering our sales and marketing teams to do contactless presentation and virtual tour of our hotels.” “We are focused on making sure our associates can put their health first and foremost as we face this situation together. We have implanted the Circle of Clean protocols to help ensure that our associates are safe while on duty such as frequent and proper handwashing, wearing of company provided PPEs, and enhanced operating policies designed to fight the spread of COVID-19,” said Annalyn D. Yap, Director of Human Resources and Operations, Robinsons Hotels and Resorts.  “As we face the challenges ahead, I know we will continue to work on ways to make sure genuine care (“malasakit”) and our bayanihan spirit remain at the core of who we are as a hotel company and as a strategic business unit of Robinsons Land Corporation. This will be a challenge, but it is an exciting one, and one we are more than happy to face, together.“ Gindap said. Summit Hotels and Go Hotels brand websites, social media pages and viber communities shall be updated with additional information on hotel re-opening schedules and its Circle of Clean protocols. For more information visit: www.summihotels.ph and www.gohotels.ph.  

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Enjoy cashless payments for hirna taxi rides with PayMaya

June 9, 2020

Digital financial services leader PayMaya is equipping ride-hailing app hirna and its partner-taxi drivers with the ability to accept cashless payments in accordance with the government's directive to promote a safer and more convenient commute for the riding public. Soon, users of the hirna ride-hailing app currently available in the cities of Davao, Iloilo, Butuan, and Bacolod can book rides and pay using PayMaya QR and do away with the need to pay their fares using cash, which is seen to aiding the spread of the virus causing the COVID-19 disease.  hirna and its partner-drivers are among the first transportation service providers that PayMaya is empowering with digital payments capabilities in support of the Department of Transportation’s (DOTr) and Land Transportation Franchising and Regulatory Board (LTFRB) mandate requiring transport providers to offer contactless payment options to help curb the spread of the COVID-19 disease. Today, drivers can instantly begin accepting cashless payments through PayMaya QR by installing the PayMaya Negosyo app (http://pymy.co/PayMayaNegosyo) on their phones, where they only need to register and upload a valid ID in order to apply for an account and receive a QR code in as fast as 24 hours.  Through the PayMaya Negosyo app, drivers need not go through complex application process just to have their own QR code that can be scanned by their passengers for safe, contactless payments. They also get a digital financial account specifically built for micro entrepreneurs, with higher account limits and other features helpful for business. “When we launched hirna, our promise was to provide a safe, reliable, and convenient transportation option to commuters. By providing our passengers with digital payment options through PayMaya, we are helping ensure a safer ride whenever they book a ride with one of our partner taxis,” said hirna President and CEO Francisco "Coco" Mauricio.  On the enterprise side, PayMaya is also enabling hirna with cashless payments acceptance via PayMaya Checkout so that its driver-partners can easily pay their requisite fees using their PayMaya Negosyo accounts. “We are excited to work with hirna and its partner drivers in promoting cashless adoption in their ecosystems as part of the New Normal. Enabling safe transportation for all through digital payments is part of our thrust with our partnership with the DOTr and the LTFRB. By supporting digital payments for the transportation sector, PayMaya’s cashless solutions provide greater safety and more convenience for operators, drivers and commuters,” added PayMaya President Shailesh Baidwan.  Equipping PUVs with cashless payments  PayMaya earlier expressed its support for the directive released by the DOTr and LTFRB encouraging the use of contactless payments in public utility vehicles as part of the measures in what is dubbed as the “new normal." Any PUV driver can now accept digital payments just by downloading the PayMaya Negosyo app. Currently, PayMaya is finalizing partnerships with a number of taxi, bus, and TNVS operators and drivers to quickly enable them with cashless payment acceptance through PayMaya QR as well as card acceptance in their fleets and digital booking channels.  Operators may also utilize PayMaya’s PayOut disbursement solution to easily distribute salaries and other incentives through their drivers’ PayMaya accounts.   Previously, PayMaya has equipped taxi operators in Metro Manila, Cebu, and Baguio. It has also enabled the first digital bus ticketing system with the Araneta Bus Port for cashless payments through credit and debit cards as well as via PayMaya QR.  PayMaya is the only end-to-end digital payments ecosystem enabler in the Philippines with platforms and services that cuts across consumers, merchants, and government. Aside from providing the payments acceptance for the largest e-Commerce, food, retail and gas merchants in the Philippines, PayMaya is enabling national and social services agencies as well as local government units with digital payments and disbursement services.   Through its PayMaya app and wallet, it is providing millions of Filipinos with the fastest way to own a financial account with over 40,000 Add Money touchpoints nationwide, more than double the total number of traditional bank branches in the Philippines combined.   Its Smart Padala by PayMaya network of over 30,000 partner agents nationwide serves as last mile digital financial hubs in communities, providing the unbanked and underserved with access to services.     To know more about PayMaya's products and services, visit www.PayMaya.com or follow @PayMayaOfficial on Facebook, Twitter, and Instagram. 

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Aboitiz Group bolsters economic support for customers & clients amid GCQ & MGCQ

June 9, 2020

The Aboitiz Group is sustaining the economic “lifeline” it has previously extended to its business units’ customers and clients as most areas in the Philippines entered general community and modified general community quarantines (GCQ & MGCQ) beginning June 1. This move will ensure the unimpeded delivery of goods and services and mitigate the impact of Coronavirus Disease 2019 (COVID-19) by stimulating economic activity. “The government’s directive to gradually lift the enhanced community quarantine in Luzon in light of the nation’s continuing battle against COVID-19 has allowed several essential businesses to return to operations one step at a time. As #OneAboitiz, we will continue to offer support to our customers and clients nationwide as we all navigate this “new normal” and prepare for the gradual resumption of business and overall economic activity once this crisis is over,” said Sabin M. Aboitiz, Aboitiz Group President and Chief Executive Officer (CEO). Power Aboitiz Power Corporation, which operates various power generation and power distribution facilities nationwide, announced that its sites will remain operational throughout the GCQ and MGCQ period, ensuring that its right mix portfolio of power assets are ready and able to meet the needs of customers nationwide.  “All of our sites for generation and distribution are operating despite the instituted lockdowns. Delivering adequate and reliable power supply is our way of spreading #PositiveEnergy in these challenging times,” said Emmanuel V. Rubio, AboitizPower President and CEO.  Currently, customers of AboitizPower distribution units Visayan Electric, Davao Light, and Cotabato Light enjoy the convenience of easy access to their monthly electricity information via the MobileAP mobile application (app). Available for free download, MobileAP allows customers to check their monthly electricity bills, view payment history, and access bill charts through their mobile phones.  Visayan Electric, the country’s second-largest privately-owned distribution utility, has particularly made transactions easier for its shareholders and customers alike. Shareholders were able to virtually join the company’s Annual Stockholders’ Meeting last May 19, while customers enjoyed installment payment arrangements in line with the May 22 Energy Regulatory Commission advisory. A customer hotline has also been set up to receive inquiries on electric consumption and bill estimates. Banking & Financial Services Union Bank of the Philippines, meanwhile, has extended loan payment deadlines (including credit card, housing, and automobile loans) and the waiving of online InstaPay transfer fees via the UnionBank Online app until June 15. Via its financial technology arm UBX, UnionBank has also offered loans to small businesses coping with the impact of enhanced community quarantine (ECQ)-related measures. During the early part of the ECQ, UnionBank announced an upgrade of its existing online app to enable users to directly transfer funds nationwide to remittance centers such as Cebuana Lhuiller, LBC, PERA HUB, and Palawan Express. This feature continues to be useful for clients who may need to transfer funds in areas under MECQ or GCQ. “This was a project we were talking about even before the lockdown. We were able to do it in just three weeks. This shows how the agile way of working has really taken root,” said Edwin R.  Bautista, UnionBank President and CEO. To help customers gain knowledge on the benefits of digital banking, UnionBank also rolled out “UnionBank Talks Digital,” a series of talks and educational sessions featuring banking industry leaders. UnionBank has also continued to deploy its 5G-enabled mobile banking kiosk “Bank on Wheels” to various parts of Metro Manila. It has also continued support to key industries like petroleum, food manufacturing, food packaging, food retail/ wholesale, logistics, brokerage, transport, health care and health-related firms to guarantee that the country’s supply chain is not disrupted. UnionBank subsidiary CitySavings has extended 30-day grace period for loan due dates falling within the ECQ and modified ECQ periods in compliance with the Bayanihan to Heal as One Act. As of May 26, a number of CitySavings branches are already open nationwide with shortened operating hours to serve its customers. Food Pilmico Foods Corporation, the food business unit of the Aboitiz Group, is addressing the demand for food products in select areas in Metro Manila through its homegrown retail, wholesale, and solutions brand “The Good Meat.” Through “The Good Meat,” Pilmico started delivering pork meat, and eggs within Metro Manila.  “Our company remains committed to helping sustain the food value chain by consistently being present and delivering raw materials needed to continue food production,” said Tristan R. Aboitiz, President and CEO of Pilmico. Pilmico has ensured unhampered production in its flour, farms, and feeds facilities to contribute to food sustainability in the country.  “The flour and feed mills in Iligan and Tarlac, as well as farms, continue to operate, serving the needs of the customers despite challenges in logistics and distribution which can be attributed to COVID-19,” Tristan Aboitiz added.  The company continues to provide total customer solutions for baking, livestock raising and management needs through digital platforms such as Facebook communities for online consultations to ensure both customers and team members are protected while addressing customers’ needs. Pilmico also extends its online services to virtual or “e-customer visits.” Through video calls, key department managers and their teams provide extended business reviews and guidance to Pilmico’s clients.  One example is the Pilmico-Technical Education and Skills Development Authority (TESDA) Bake/Cook with Chef Webinar Series, an online avenue for learning and skills development for Pilmico customers, which include small- and medium-bakery owners and home bakers. Launched last May 26, the series will air three times per month via Zoom and Facebook until after the GCQ period. The series’ first episode was reposted on the Pilmico Flour Facebook page. Infrastructure and Land Lima Water Corporation, an Aboitiz InfraCapital unit, is ramping up its operations in Lima Technology Center with the imposition of GCQ in Batangas.  To support the ramp-up of locators’ water demand as quarantine measures relax, Lima Water has been constantly ensuring that its water and wastewater facilities within the industrial park are well-maintained and ready for adjustment. The water utility also introduced alternative payment options for locators for their convenience. In addition, to keep locators safely updated on the latest company information, announcements, and water quality results, Lima Water recently launched its company website, http://www.limawatercorp.com.  The Outlets at Lipa, AboitizLand’s commercial development in Lipa City, Batangas, observes strict sanitation measures during GCQ to ensure the safety and security of its customers and tenants. AboitizLand’s commercial establishments, The Outlets at Lipa in Batangas and The Outlets at Pueblo Verde in Cebu, have reopened to serve community needs following local GCQ directives. Retail shops are now open implementing strict safety measures and social distancing protocols. Restaurants also remain open, offering delivery and take-out transactions only.  In addition, AboitizLand’s residential sales team remains ready to serve the country’s housing needs amid the need for a safe and secure sanctuary. The company has adopted digital and contactless selling to make it safe and convenient for vecinos (clients) to purchase a home. Construction Aboitiz Construction, Inc.’s customers (most of which are key players in various industries) continue to do business with the company via video conferencing, chat applications, and other multiple digital tools. In preparation for the resumption of work in project sites, Aboitiz Construction has implemented strict safety protocols to ensure that all stakeholders and team members are protected from acquiring the virus.   “We continue to find innovative ways in keeping our clients warm and diligently update them on our business continuity plan, and process improvements as we become more agile and forward-thinking through the use of various digital tools,” said Felma R. Yap, Aboitiz Construction First Vice President - Business Development & Tender Planning. Yap’s team now hosts price reviews, holds issue resolution consultations, and relays cost improvement options for customers through various Web tools. About Aboitiz Equity Ventures Aboitiz Equity Ventures, Inc. (AEV) is the public holding company of the Aboitiz Group with major investments in power, banking and financial services, food, infrastructure, and land. Today, AEV is recognized as one of the best-managed companies in the Philippines and in the region, consistently cited for its commitment to good corporate governance and corporate social responsibility. With five generations of Aboitiz Group business success behind it, AEV continues to drive change for a better world by advancing business and communities. The Aboitiz Group continues to contribute to the country’s COVID-19 response efforts. To date, the Aboitiz Group has contributed P1.85 billion for its COVID-19 response efforts. This excludes various payments waived, reduced, extended, or restructured to help customers cope with the impact of COVID-19. 

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