BDO income up 12% to P23.9B

 

NEW FUNDS A view of BDO Unibank Inc.’s main office building in Makati City. According to the lender, it has raised P52.7 billion in new funds through fixed-rate Asean Sustainability Bonds. PHOTO BY ENRIQUE AGCAOILI

BDO Unibank Inc. (BDO) posted a 12-percent increase in its net income for the first half of 2022 to P23.9 billion on the back of strong results across its core businesses.

In a disclosure to the Philippine Stock Exchange on Monday, BDO said its customer loan portfolio grew by 9 percent, bolstered by an 11-percent increase in its current account savings accounts (CASA) deposits, which now comprise 85 percent of total deposits.

The company said noninterest income was up to P34.3 billion, lifted by the increased volume of transactions, translating into an increase in fees and insurance premiums.

Pre-provision operating profit also increased up to P39.2 billion, reflecting the strength of core income sources amid a tempered increase in operating expenditures.

Asset quality sustained its improvement as the nonperforming loan ratio went down further to 2.39 percent, as against 2.72 percent a quarter ago and 3.12 percent year on year.

BDO continues to roll out new digital capabilities and self-service technologies across branches to make banking services more accessible, easier to use and operationally efficient. These branch innovations include paperless straight through processing capability, covering 80 percent of branch transactions and card-less automated teller machine transactions using biometrics, facial recognition and QR codes.

BDO is now also offering its mobile wallet, BDO Pay, to non-BDO account holders. BDO Pay does not require any initial deposit nor maintaining balance, and currently allows fund transfers to other bank accounts without transaction fees.

BDO's established business franchise, healthy capital position and sustainable earnings performance reinforce the bank's resilience against prevailing macroeconomic headwinds and puts it in a good position to capitalize on the country's opportunities for sustained long-term growth.

Marcos declares 10-day national mourning for FVR

Former president Fidel V. Ramos (REUTERS/Romeo Ranoco / MANILA BULLETIN)

by Betheena Unite, Manila Bulletin

President Ferdinand “Bongbong” Marcos Jr. has declared a 10-day period of national mourning over the passing of former President Fidel V. Ramos.

The signed proclamation stated that with the contributions of Ramos, who is also known for his initials FVR, “it is fitting to devote a period of national mourning to pay tribute to an esteemed leader who has dedicated his life to public service and has left a lasting mark on our country.”

 

During the Period of National Mourning, the Philippine flag shall be flown at half-mast as a sign of mourning on all buildings and places it is displayed as stated under Chapter 1 of Republic Act No. 8491 or the “Flag and Heraldic Code of the Philippines.”

Ramos was the country’s 12th president from 1992 to 1998.

Prior to his presidency, he served as the chief of Philippine Constabulary from 1972 to 1986, chief of staff of the Armed Forces of the Philippines (AFP) from 1986 to 1988, and Secretary of National Defense from 1988 to 1991.

He was named as Military Hero of the Peaceful People Revolution for his paramount role in returning democracy to the Philippines.

On Sunday, the Palace extended sympathy to the loved ones of FVR, who passed away at the age of 94.

“Our family shares the Filipino people’s grief on this sad day. We did not only lose a good leader but also a member of the family,” the President said in his statement.

He also called on the citizenry to pray for the eternal repose of the former president.

God’s providence and our little contribution

 

By Fr. Roy Cimagala *

“HE said to them, ‘There is no need for them to go away; give them some food yourselves.’ But they said to him, ‘Five loaves and two fish are all we have here.’ Then he said, ‘Bring them here to me,’ and he ordered the crowds to sit down on the grass.” (Mt 14,16-19)

And so the story goes that led to the great astonishment of Christ’s disciples when at the end, in spite of what little the disciples contributed in the feeding of the people, there was a great amount of excess of the bread—12 baskets full—that was given to the crowd that followed Christ.

This gospel episode simply shows us that God always provides for our needs, no matter how helpless we may be in certain situations in our life. We should just trust in God’s almighty providence even as we do our part in resolving whatever problems and predicaments we can find ourselves in.

In this regard, Christ himself reassures us with these words: “Look at the birds of the air, for they neither sow nor reap nor gather into barns; yet your heavenly Father feeds them. Are you not of more value than they?” (Mt 6,26)

And he continues: “So why do you worry about clothing? Consider the lilies of the field, how they grow: they neither toil nor spin; and yet I say to you that even Solomon in all his glory was not [c]arrayed like one of these. Now if God so clothes the grass of the field, which today is, and tomorrow is thrown into the oven, will He not much more clothe you, O you of little faith?” (Mt 6,28-30)

Yes, with a little help from us, the full wonder of God’s grace and providence would be revealed to us. This was articulated by Christ himself during the multiplication of the bread.

It is very moving to realize that what God is asking of us is actually very little in comparison to what he will be giving and doing for us. Another gospel episode that highlights this point is that of the miraculous catch of fish. (cfr. Lk 5,1-11)

Christ asked Peter to go to the deep and lower the nets for a catch. Peter at first was hesitant because he was fishing the previous night and caught nothing. But to Peter’s credit, he just obeyed Christ. And lo and behold, Peter caught such a large quantity of fish that he had to ask help to bring the enormous catch of fish to the shore.

It is indeed very reassuring that this is actually what happens in our relationship with God. All that we need to do are just the little duties we have, and God’s grace will come to us in abundance.

We simply have to do things in good faith, in obedience to God’s will, though sometimes God’s will would require extraordinary effort and sacrifice. But then again, whatever investment we have to give, even if in our own estimation it is already quite sizable, is nothing compared to what God will give us in return.

Corresponding to God’s will in our own small way is the highest yielding investment we can make. Let us remember that God can never be outdone in generosity. Christ himself said: “Whoever has (referring to one’s faith and trust in God) will be given more, and he will have an abundance. Whoever does not have, even what he has will be taken away from him.” (Mt 13,12)

* Chaplain Center for Industrial Technology and Enterprise (CITE), Talamban, Cebu City

Email: roycimagala@gmail.com

Mixed oil price adjustments next week

by Myrna M. Velasco, Manila Bulletin

For the fifth time in a series of cost adjustments in the past two months, the pockets of consumers will be eased partly with the anticipated rollback in diesel and kerosene prices next week, but motorists using gasoline are not as lucky because the cost of this commodity will go up.

Industry players estimated that the price of diesel will be reduced by P0.45 to P0.65 per liter; and kerosene prices will be slashed by P0.50 to P0.70 per liter, while gasoline prices will climb by P0.55 to P0.75 per liter for RON92 products; and P0.65 to P0.85 per liter for RON95 gasoline commodities.

Oil firms will implement the calculated price adjustments on Tuesday, Aug. 2, as part of their routine when it comes to cost movements in the deregulated downstream oil industry.

The pricing adjustment reference is anchored on the Mean of Platts Singapore (MOPS), and they also factor in foreign exchange (forex) rate fluctuations as well as market premiums, biofuel costs and other charges.

An added price relief in consumer-budgets will be the projected price reductions for liquefied petroleum gas (LPG) to the tune of more than P2.00 per kilogram; which is the preferred cooking fuel in Filipino households.

LPG prices are adjusted based on the cost swings of international contract prices (CP) that are benchmarked on Saudi Aramco, the pricing reference for Asian markets.

Prior to the next round of oil price swings at the pumps, a monitoring report of the Department of Energy (DOE) showed that domestic oil prices still incurred net increases of P32.95 per liter for diesel; P28.05 per liter for kerosene; and P18.90 per liter for gasoline products.

The general price trend in the world market last week had been cost downtrend, but as of Friday (July 29) trading, international benchmark Brent crude significantly climbed back to $110 per barrel; while Dubai crude jumped to $102 per barrel anew – manifesting then that price hikes may reign at the pumps again in the weeks ahead.

Filipino consumers are still left without choice given the heavy reliance of the country on importation in meeting its oil needs – and the only assurance coming from the government would be grant of targeted subsidy to the marginalized sectors – such as the transport and agriculture sectors – if surging prices will dominate pricing trends again.

The Marcos administration is still figuring out its policy when it comes to volatile oil pricing. There is no definitive commitment yet from the new leadership at the DOE if proposed measures, like fuel cost unbundling, will be strongly supported by Energy Secretary Raphael Perpetuo M. Lotilla.

There have been proposals for the country to seriously study the setting up of strategic petroleum reserve (SPR), but the only policy pronouncement from the Marcos administration for now is to whet the appetite of investors in oil and gas exploration so this could usher in long-desired energy security for the country.

Davao City to outsource durian

By Richy Nalagon

The government of Davao City, through the City Agriculturist's Office (Cagro), said it will deliver its commitment to have an abundant supply of durian during the Kadayawan season by outsourcing the "smelly but inviting" fruit from neighboring regions.

The unusual weather patterns caused by climate change have affected the cyclic production of durian in the city, resulting in a supply deficit.

Typically, the annual volume of durian that Davao City produces can reach over 12,000 metric tons (MT).

Davao City recorded 15,485 MT of durian in 2019, over 17,000 MT in 2020 and 12,930 MT in 2021. However, only over 3,000 MT of durian were harvested for the first half of this year.

During the I-Speak media forum on Thursday, Cagro head Edgardo Haspe said that because of the unusual weather patterns felt in the city's highlands early this year, a significant number of durian trees did not bear fruit in time for the Kadayawan season.

He said in order to respond to the high demand for the fruit during Kadayawan season, the Cagro is currently in talks with durian consolidators from other regions to import durian into the city.

"We are now discussing with the Durian Industry Council Association of Davao City, if, based on their monitoring, there is available supply from neighboring provinces and regions, just like North Cotabato, Kidapawan, Makilala, to supply the need for durian during that period," Haspe said.

Although there is still durian left to be harvested from the city's highlands, this will still not be enough to supply the market and the estimated 50,000 tourists who are expected to come during the Kadayawan season.

"As we have observed based on our monitoring, naa pa'y nabilin na portion in Toril, Sibulan, Catigan, portions of Marilog and Baguio, Calinan. Siguro dili na ni kaabot og 5,000 tons (As we have observed based on our monitoring, there are still some left in some parts of Toril, portions of Marilog and Baguio, Calinan. Maybe that will no longer reach 5,000 tons)," Haspe added.

Although Haspe admitted that this Kadayawan season's durian harvest in the city is proving to be underwhelming, he said the industry remains lucrative.

He added that more and more farmers are engaged in durian production due to its favorable prices in the global market.

In 2019, the total land area for durian farming in Davao City was recorded at 3,222 hectares.

This had since increased to 3,389 hectares in 2021. Haspe said the city's durian processors have also been increasing in number.

"Our durian processors here in the city are increasing.

There is one in Calinan, here in Tibungco; they come to our office to ask where they can find supply," Haspe said.

On top of this, Davao City is also eyeing building a direct link to the Chinese market.

The Cagro head said that the city's durian usually has to go through consolidators in other countries, such as Thailand, before ending up in mainland China.

He said exporting directly to China will increase the profit margin of Davao City's durian farmers as well as the city's visibility in the global market.

Our favorite wet market once a week.

 

Rossana Balcom-Döring is feeling thankful at Agdao Public Market.

DA provides livelihood assistance to People’s Organization in Laak

Davao de Oro --- To ensure food security and alleviate the poverty of local farmers, the Department of Agriculture (DA) provided livelihood assistance to the People’s Organization in Laak, Davao de Oro, named Conception Alternative Learners Livelihood Organization (CALLO).

A total of 8,330 hills of Banana Lakatan, 15 sacks of feeds, and 30 packs of 8 in-1 vegetable seeds were distributed to the CALLO in Barangay Conception, Laak, Davao de Oro, on July 22, 22, 2022. 

The assistance is part of the Banana Production, Mallard Duck Production, and Gulayan sa Barangay project under the DA’s Special Area for Agricultural Development (SAAD) Program, which aims to support the farmers and fisherfolk through the provision of intervention programs.

Mayor Antonio L. Libuangan expressed gratitude for the agency’s support by providing income-generating opportunities that will sustain their daily needs and help it become a self-sustaining organization in town. He also stressed that the local government will continue to monitor the recipients to ensure the success and development of the project. 

Association Chairman Dominador Clarion Jr. said in response that the whole association is thankful for the assistance poured into their association that will help them get through in life, particularly in recovering from the effects of the current pandemic.

SAAD Area Coordinator, Anna Marie Malabarbas, leads the distribution of assistance together with Municipal SAAD Coordinator Ramil C. Madayag and in collaboration with the Civil-Military Operation of the 60th Infantry MEDIATOR Battalion. (Rheafe Hortizano –Information Office, Photos by LGU Laak)

Senior citizens warned against social pension scams

By Moises Cruz

SENIOR Citizen Party-list Rep. Rodolfo Ordanes reminded the elderly and their families to exercise caution and to avoid people promising financial assistance and other benefits that are authorized for release by government agencies.

"My advice to my older peers is to not trust anyone or any organization that asks for money in exchange for a social pension or other government assistance," Ordanes said.

"It is obvious that this is a scam, because the government is providing free financial aid," he added.

A concerned individual contacted the Senior Citizen Party-list about a supposed senior citizens' organization that has been recruiting members, collecting dues, and soliciting with promises of social pension for the underprivileged seniors.

Ordanes asked the Securities and Exchange Commission (SEC), National Bureau of Investigation (NBI), and Department of Social Welfare and Development (DSWD) to look into the scam.

Where to watch Binibining Pilipinas

All 40 candidates of this year’s Binibining Pilipinas during the Grand Parade of Beauties.

By Iza Iglesias, Manila Times

After months of preparations, the competition will finally come to an end as Binibining Pilipinas 2022 crowns its new set of queens tomorrow night, July 31, at the Araneta Coliseum.

Forty beautiful ladies will be vying for four titles and that will allow them to represent the country in Miss International, Miss Intercontinental, Miss Grand International, and Miss Globe.

Pageant fans are in for a treat as Miss Universe 2018 Catriona Gray and Miss Grand International 2016 1st runner-up Nicole Cordoves will return to host the 58th edition of Binibining Pilipinas.

Providing support to the duo are Miss Grand International 2020 first runner-up Samantha Bernardo and "Pinoy Big Brother" alumnus Edward Barber who will both give some commentary throughout the course of the program.

Meanwhile, breakout P-pop act SB19 composed of Pablo, Stell, Josh, Ken and Justin will perform the anthem "Win Your Heart." The quintet's take on the Binibining Pilipinas theme song debuted during the press presentation of the candidates.

This year's edition of the Binibining Pilipinas has adopted a P-pop flavor in the previous pre-pageant activities. The press presentation had a live performance from the internationally-known female quartet 4th Impact, male group 1stOne and girl squad Dione at the talent competition, while Alamat also performed during national costume fashion show.

The delegates also underwent a P-pop dance workshop at the Addlib dance studio, which also taught them stage confidence.

The show, which starts at 10 p.m., will have a live telecast on TV5, A2Z Channel 11, The Kapamilya Channel, and the Metro Channel. It will also be broadcast on iWantTFC and the Binibining Pilipinas official YouTube channel.

Tickets are still available via Ticketnet, ranging from P500 for general admission, to P10,500 for VIP.

Lala Sotto: MTRCB has no jurisdiction over social media, online streamers

MTRCB chairperson Diorella ‘Lala’ Sotto-Antonio (Facebook)

by Robert Requintina, Manila Bulletin

Violent themes and sexual content may proliferate on social media, but the newly appointed chairperson of the Movie and TV Review Classification Board (MTRCB) Diorella “Lala” Sotto-Antonio pointed out that the agency has no jurisdiction over online streams and posts.

“Wala po talagang juridisction ang MTRCB over social media and online streamers. So we are very limited to television programs and motion pictures. But as I’ve said, I don’t see anything wrong with working with them,” says Lala, during a lunch with the entertainment media at Mario’s Restaurant in Morato, Quezon City last Wednesday.

 Lala suggests that it would help if the jurisdiction of MTRCB would be expanded.

“I hope it will not be taken against me, but my humble opinion is yes, makakatulong siguro kung ma e-expand yung juridisction ng MTRCB. One of my goals is for the MTRCB to be the partner-parent at home, especially for parents who are busy. I want to ensure a safe-viewing experience for children,” she says.

Lala, 45, says there were no specific instructions or orders from President Marcos Jr. when she was appointed to MTRCB. But she reveals that her team has met with popular streaming service networks in the country.

“It’s safe to say that we have had short talks with Netflix already. We also started meeting with Amazon Prime. I’m looking forward to a healthy and harmonious relationship with them because the role of MTRCB is very limited to motion pictures and television programs,” she adds. “With the local streamers, I choose to work with them. I am open to dialogues and open to communication with them.”

When asked if she would be a strict MTRCB head, Lala says: “I cannot say na magiging mahigpit ako because I don’t want to compare my being the chairman to the previous ones. I feel I have big shoes to fill because I choose to emulate Senator Grace Poe. But the chairmen who came after her did a great job naman. Lahat magaganda yung nagawa during their term. Wala naman akong nakikita na dapat kaming magcensor. MTRCB is just an agency which will rate and classify movies and TV shows. I am blessed to have a working board.”

 Lala says she’s confident that the movie industry will bounce back following the lockdowns brought about by the pandemic. “Kaka-open lang ng ating cinema but am very confident that we will be able to work with them. Makaka-ahon din sila.”

Daughter of Senator Tito Sotto III and actress Helen Gamboa, Lala earned her Bachelor of Arts major in Diplomatic Affair degree at the Dela Salle University College of St. Benilde. She also earned credits from the Harvard Kennedy School Executive Education for the short-term course Applying Behavioral Insights to the Design of Public Policy, and the two-month course on Strengthening Community Health Workers.

Prior to her appointment, Lala was in public service for 22 years. She was a three-termer councilor in Quezon City’s sixth district from 2013 until 2022. Before that, she also served as councilor from 2001 to 2010 in the city’s third district.

Lala was the author of the ordinance requiring bicycle riders to wear helmets while within Quezon City’s borders. At the height of the pandemic in 2020, she authored ordinances granting a special risk allowance to frontline Quezon City public health workers, requiring the use of facemasks or other coverings in the city’s public places, and establishing the Quezon City General Hospital dialysis and a separate dialysis center for Covid positive patients.

If time permits, Lala says she enjoys watching historical movies and documentaries. The first two movies that the MTRCB board reviewed were “Maid In Malacanang” and “Katips.”

Recalling the first time she got a call from the Palace, Lala says: “I was so surprised. They asked me to attend the July 5 oath-taking. But I was positive for Covid so nahiya naman ako sabihin na I couldn’t make it because I had to complete the seven-day quarantine period. Then they called asking me to attend the July 7 oath-taking.”

On the reminders of her parents, the MTRCB chief states: “Yung mga paalala sa akin ng mga magulang ko, nagsimula yan 22 years ago, noong unang pumasok ako sa politics. So ngayon andyan pa rin ang simple reminders nila on humility, about being sensitive to other’s feelings and needs, diligence, conscientious, working that is glorifying to the Lord, yung ang paalala sa akin ng mga magulang ko na paulit-ulit. My passion for public service will be with me wherever I go. So yung malasakit mo sa bayan mo, sa mga kapwa Pilipino, hindi mawawala yun. Dala-dala ko lagi yun. Kasama na rin doon yung natutunan ko bilang konsehala sa loob ng 18 years. Wala na po akong plan bumalik sa city council because panahon na i-expand yung kakayahan natin na makatulong sa iba at sa mas nakararami.”

Lala reveals her goal as chairperson of MTRCB. “I just want to do a great job that is glorying the Lord. Gusto kong lang paghusayan at patunayan na deserving ako sa katungkulan ko ngayon.”