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Wednesday, September 30, 2009

How to make money thru Paypal

(click the image to register)

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You'll immediately start earning 0.5% of the new merchant's revenue — up to $1,000.00 USD — for the first 12 months that the merchant has his PayPal account.

There are three types of Paypal accounts: Personal, Premier, and Business.

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PacMan Donates 1 Million to Ondoy

Boxing - Manny Pacquiao donates 1 Million to tropical storm victim "Ondoy", expresses sympathy while training in Baguio the boxing icon did his part in the Pinoy Bayanihan to extend help to affected families of storm Ondoy.

ON the other hand PacMans sparring partner is strong and tall, Shawn Porter.

Porter, undefeated in 10 fights, with six knockout wins coming in the first round, raised some eyebrows when he climbed the ring to spar with Manny. He seemed too big for Pacquiao, who will fight Cotto at 145 lb.

“He was much bigger but that’s good because he got to push Manny around. I also think he’s the heaviest puncher Manny has ever sparred with. But a few more sessions and I don’t think he can last with Manny,” said Koncz.

The doors to the boxing gym where Pacquiao will train for the next four weeks were closed to the media and fans yesterday, particularly since it was the first day of sparring for the reigning pound-for-pound champion.

Class Suspended for 1 Week


All levels in Metro Manila and typhoon "Ondoy" affected areas has been declared no class for the rest of the week by PGMA.

Clean operation and rehabilitation for affected residents as well as classrooms by students was given a go first by the NDCC and the DepEd in a meeting yesterday.

170 public school buildings are also being used as evacuation centers where some 10,000 families are currently taking refuge. The DepEd’s Disaster Risk Reduction Management Office added the school buildings that were turned into evacuation centers are currently sheltering a total of 9,129 families or 18,199 people.

Lapus also urged parents and teachers to reactivate “Brigada Eskwela” and help in the clean up of the flooded school buildings.

Sunday, September 27, 2009

"Ondoy" Manila Floods Pics

Here are a number of pics collection of storm Ondoy (Ketsana internationally known as):

For the love of this country - What can you do?

(This is from a yahoo group which I am a member)

To all Filipinos Everywhere:

I used to think that corruption and criminality in the Philippines were caused by poverty. But recent events tell me this isn't true. It is one thing to see people turn into drug addicts, prostitutes, thieves and murderers because of hunger and poverty, but what excuse do these rich, educated people have that could possibly explain their bizarre behavior? And to think I was always so relieved when petty snatchers got caught and locked away in jail because I never fully realized that the big time thieves were out there, making the laws and running our country. Can it get any worse than this?

Every night, I come home and am compelled to turn on my tv to watch the latest turn of events. I am mesmerized by these characters. They are not men. They are caricatures of men - too unreal to be believable and too bad to be real. To see these "honorable" crooks lambast each other, call each one names, look each other in the eye and accuse the other of committing the very same crimes that they themselves are guilty of, is so comical and apalling that I don't know whether to laugh or cry. It is entertainment at its worst!

I have never seen so many criminals roaming around unfettered and looking smug until now. These criminals wear suits and barongs, strut around with the confidence of the rich and famous, inspire fear and awe from the very citizens who voted them to power, bear titles like "Honorable", "Senator", "Justice", "General" and worse, "President". Ironically, these lawless individuals practice law, make our laws, enforce the law. And we wonder why our policemen act the way they do! These are their leaders, and the leaders of this nation – Robin Hoodlum and his band of moneymen. Their motto? "Rob the poor, moderate the greed of the rich."




It makes me wonder where on earth these people came from, and what kind of upbringing they had to make them act the way they do for all the world to see. It makes me wonder what kind of schools they went to, what kind of teachers they had, what kind of environment would produce such creatures who can lie, cheat and steal from an already indebted country and from the impoverished people they had vowed to serve. It makes me wonder what their children and grandchildren think of them, and if they are breeding a whole new generation of improved Filipino crooks and liars with maybe a tad more style but equally negligible conscience. Heaven forbid!

I am an ordinary citizen and taxpayer. I am blessed to have a job that pays for my needs and those of my family's, even though 30% of my earnings go to the nation's coffers. Just like others in my lot, I have complained time and again because our government could not provide enough of the basic services that I expect and deserve. Rutty roads, poor educational system, poor social services, poor health services, poor everything. But I have always thought that was what all third world countries were all about, and my complaints never amounted to anything more.

And then this. Scandalous government deals. Plundering presidents pointing fingers. Senators associated with crooks. Congressmen who accept bribes. Big time lawyers on the side of injustice. De Venecia ratting on his boss only after his interminable term has ended, Enrile inquiring about someone's morality! The already filthy rich Abalos and Arroyo wanting more money than they or their great grandchildren could ever spend in a lifetime. Joker making a joke of his own "pag bad ka, lagot ka!" slogan.. Defensor rendered defenseless. Gen. Razon involved in kidnapping. Security men providing anything but a sense of security. And it's all about money, money, money that the average Juan de la Cruz could not even imagine in his dreams. Is it any wonder why our few remaining decent and hardworking citizens are leaving to go work in other countries?

And worst of all, we are once again saddled with a power-hungry president whose addiction has her clinging on to it like barnacle on a rusty ship. "Love (of power) is blind" takes a whole new meaning when PGMA time and again turns a blind eye on her husband's financial deals. And still blinded with all that is happening, she opts to traipse around the world with her cohorts in tow while her country is in shambles.

They say the few stupid ones like me who remain in the Philippines are no longer capable of showing disgust. I don't agree. Many like me feel anger at the brazenness of men we call our leaders, embarrassment to share the same nationality with them, frustration for our nation and helplessness at my own ineffectuality. It is not that I won't make a stand. It is just that I am afraid my actions would only be futile. After all, these monsters are capable of anything. They can hurt me and my family. They already have, though I may not yet feel it..

But I am writing this because I need to do something concrete. I need to let others know that ordinary citizens like me do not remain lukewarm to issues that would later affect me and my children. I want to make it known that there are also Filipinos who dream of something better for the Philippines. I want them to know that my country is not filled with scalawags and crooks in every corner, and that there are citizens left who believe in decency, fairness, a right to speak, a right to voice out ideas, a right to tell the people we have trusted to lead us that they have abused their power and that it is time for them to step down. I refuse to let this country go to hell because it is the only country I call mine and it is my responsibility to make sure I have done what I could for it.

Those of us who do not have the wealth, power or position it needs to battle the evil crime lords in the government can summon the power of good. We can pray. We can do this with our families every night. We can offer petitions every time we celebrate mass. We can ask others to pray, too, including relatives and friends here and overseas. And we can offer sacrifices along with our petitions, just so we get the message to Him of our desperation in ridding our nation of these vermin. After all, they cannot be more powerful than God!

I implore mothers out there to raise your children the best way you can. Do not smother, pamper, or lavish them with too much of the material comforts of life even if you can well afford them. Teach them that there are more important things in this world. I beg all fathers to spend time with their children, to teach them the virtues of hard work, honesty, fair play, sharing, dignity and compassion – right from the sandbox till they are old enough to go on their own. Not just in your homes, but at work, in school, everywhere you go. Be good role models. Be shining examples for your children so they will learn to be responsible adults who will carry and pass on your family name with pride and honor.

I call on educators and teachers – we always underestimate the power of your influence on the minds of our youth. Encourage them to be aware of what is happening in their surroundings. Instill in them a love of their country, inculcate in them the value of perseverance in order to gain real, worthwhile knowledge, help us mold our children into honorable men and women. Encourage our graduates, our best and brightest, to do what they can to lift this country from the mire our traditional politicians have sunk us into. The youth is our future – and it would be largely because of you, our educators, that we will be able to repopulate the seats of power with good leaders, presidents, senators, congressmen, justices, lawmakers, law enforcers and lawful citizens.

I ask all students, young people and young professionals everywhere to look around and get involved in what is happening. Do not let your youth be an excuse for failure to concern yourselves with the harsh realities you see. But neither let this make you cynical, because we need your idealism and fresh perspective just as you need the wisdom of your elders. YOUR COUNTRY NEEDS YOU! Let your voices be heard. Do what you can for this land that gave you your ancestors and your heritage. Use technology and all available resources at hand to spread good. Text meaningful messages to awaken social conscience. Try your best to fight moral decay because I promise you will not regret it when you become parents yourselves. You will look back at your past misdeeds and pray that your children will do better than you did.

Remember that there are a few handful who are capable of running this country.. You can join their ranks and make their numbers greater. We are tired of the old trapos. We need brave idealistic leaders who will think of the greater good before anything else. Do your utmost to excel in your chosen field.. Be good lawyers, civil servants, accountants, computer techs, engineers, doctors, military men so that when you are called to serve in government, you will have credibility and a record that can speak for itself.

For love of this country, for the future of our children, for the many who have sacrificed and died to uphold our rights and ideals, I urge you to do what you can. As ordinary citizens, we can do much more for the Philippines than sit around and let crooks lead us to perdition. We owe ourselves this. And we owe our country even more.

(updated 14-Oct-2009 read the comment below)

Friday, September 25, 2009

Ang Ladlad Ask for Comelecs Accreditation

For the second time the group led by Danton Remoto filed a petition before the Comelec urging the poll body to allow them to participate in the 2010 elections. Gays, lesbians, bisexuals and transgenders are said to account for 10 percent of the total 43.5 million registered voters nationwide.

Two years ago Comelec junked their petition for accreditation citing the failure to comply with the legal requirements of national membership.

  1. Public discrimination against them is said to be the main reason why Ang Ladlad is formed. Equal opportunities for gays and lesbians is their aim.

  1. ang Ladlad push for the repeal of the Anti-Vagrancy Law, which he said is commonly used by unscrupulous policemen for extortion of gays.
Bolanon: (a Philstar user commented) Now we are truly seeing the decline of this country. Those who forget history are bound to repeat them. Sodom and Gomorra are forgotten. Our fathers' values are forgotten. The sanctity of marriage (and that means between a man and a woman - in the context of that marriage - a man shall leave his house and a woman his mother, something like that), because men have become so debase and detestable by lusting for one another when even from a biological viewpoint, there is no way that homosexuality will stand. In the Old Testament times, these were stoned to death. Now, we applaud when they march on stage. Ban these people. So we see a serious flaw in our constitution on these party list system. AMEND THE CONSTITUTION NOW!

Wednesday, September 23, 2009

Think and Grow Rich

Grab "Think and Growm Rich Ebook" when you subscribe to my mailing list. Send me an email at toti.patrimonio@gmail.com after you subscribe to my mailing list.

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Saturday, September 19, 2009

We're on Page 8 - MFS Blogger Gallery

I received an email that Philippine Coop Blog was directly added by its Admin of MFS Blogger Gallery on Page 8.


I think we're really getting respect from bloggers community. It is an honor for the Philippine Cooperative Blog to get somewhere from a very monimal amount of visit when it started 3 years ago.


The page on MFS Blogger Gallery is feature on this link to inform you all that we are getting popular among blog list.


Though I must admit there are some articles not really related to cooperatives, forgive my write ups, these were just made to further the visitors and keep the momentum of each visits by loyal readers. Blogging after all is more than just sharing the information it is giving away your passion.


THese all for the love of blogging.

I Am the Hottest Link on Twitter! ClickAdsOnline

(click the image to enlarge)
I was very surprise to see I was one of the hottest link on Twitter! Lol!


ClickAdsOnline, my twitter account have 300+ retweets in my 10 original tweets. That's a swift victory for a span of 2 hours online and gain this top position in twitter. Proudly Pinoy!


Just in case you might want some proof here's the link: http://tweetmeme.com/user/clickadsonline


Not many twitter users hailed for this. I wasn't expecting to lead, I was only hoping for a traffic in this blog inviting people in many areas of the world somehow know we exist!

My Beloved Philippines

FW: PICPA Coop DEv Group forwarded this to me. I believe it is worth sharing over this blog.


by Father James Reuter, S.J.


By her own admission, GMA (Gloria Macapagal Arroyo) rightfully assessed that over the last decades; our republic has become one of the weakest, steadily left behind by its more progressive neighbors.' Forty years ago, we were only second to Japan in economic stature, and way ahead of Singapore , Hong Kong , Malaysia , and Thailand . Today, at our present growth rate, it will take us 30 years to get to where Thailand is.


1.. A population of 160 Million;


2. Of those, 70 to 90 million (equivalent to our current population) will live below the poverty line;


3. Our national debt is estimated to be at US$200B (compared to US$28B when Marcos fled, and US$53B today);


4. We will be competing, not against Thailand or even Vietnam , but against Bangladesh ;


5. We will be the most corrupt nation in Asia , if not in the world (we're already ranked 11th most corrupt nation by Transparency International) ...


The signs are clear. Our nation is headed towards an irreversible path of economic decline and moral decadence. It is not for lack of effort. We've seen many men and women of integrity in and out of government, NGOs, church groups & people's organization devote themselves to the task of nation-building, often times against insurmountable odds.


But not even two people's revolutions, bloodless as they may be, have made a dent in reversing this trend.. At best, we have moved one step forward, but three steps backward.


We need a force far greater than our collective efforts, as a people, can ever hope to muster. It is time to move the battle to the spiritual realm.. It's time to claim GOD's promise of healing of the land for His people. It's time to gather GOD's people on its knees to pray for the economic recovery and moral reformation of our nation.


Is prayer really the answer? Before you dismiss this as just another rambling of a religious fanatic, I'd like you to consider some lessons we can glean from history.


England 's ascendancy to world power was preceded by the Reformation, a spiritual revival fueled by intense prayers.


The early American settlers built the foundation that would make it the most powerful nation today - a strong faith in GOD and a disciplined prayer life.. Throughout its history, and especially at its major turning points, waves of revival and prayer movement swept across the land.


In recent times, we see Korea as a nation experiencing revival and in the process producing the largest Christian church in the world today, led by Rev. Paul Yongi Cho. No wonder it has emerged as a strong nation when other economies around it are faltering.


Even from a purely secular viewpoint, it makes a lot of sense. For here there is genuine humbling & seeking of GOD through prayer, moral reformation necessarily follows. And this, in turn, will lead to general prosperity. YES, we believe prayer can make a difference. It's our only hope.


Today, we launch this email brigade, to inform Filipinos from all over the world to pray, as a people, for the economic recovery and moral reformation of our nation. We do not ask for much. We only ask for 5 minutes of your time in a day, to fwd this email to your close friends and relatives.


This is the kind of unity which can make a big difference. Of course, if you feel strongly, as I do, about the power of prayer, you can be more involved by starting your own prayer group or prayer center.


We have tried people power twice; in both cases, it fell short. Maybe it's time to try prayer power. GOD never fails. Is there hope? YES! We can rely on God's promise, but we have to do our part. If we humble ourselves and pray as a people, GOD will heal our land. By GOD's grace, we may yet see a better future for our children.


'If My people, who are called by My name, will humble themselves and pray, and seek My face, and turn from their wicked ways, then will I hear from Heaven, and will forgive their sins, and will heal their land.'(2 Chronicles 7:14).

Friday, September 18, 2009

Chiz Escudero Favored by Iskolar Ng Bayan

In a Philstar report today Chiz Escudero is favored over Villar and Aquino. UP Alpha Sigma fraternity sponsored moc election from Sept 8-15 result:
  1. Escudero -690 votes - 21 percent
  2. Villar - 365 votes - 11.6 percent
  3. Aquino - 278 votes - 8.8 percent
  4. Madrigal - 258 votes - 8.2 percent
  5. Legarda - 237 votes - 7.9 percent
  6. Fernando - 226 votes - 7.2 percent
  7. Binay - 162 votes - 5.1 percent.
On the otherhand, look at the left side of this blog, I have provided a poll survey over readers of this blog for presidentiables. You may cast your votes and be counted lets have a diverse population from any sector to cast votes over this survey after this poll ends I will post an article about it.

Source: Philstar

Thursday, September 17, 2009

Can AFP Eliminate the NPA?

In an article in Philstar entitled "Defeat of NPA By 2010 Imminent, Says AFP" have some new revelations over AFP's leadership untamed tongue, this implies many things for me positive and negative and to cite a few hear this:


AFP Leaders would like to Demoralize the NPA
If this is intended that way the NPA's know for a fact how well or bad they are doing.


AFP want to smell good over a Promotion before PGMA leaves office
Hhhmmnn... I smell something. PGMA has always make Generals seated in the Top offices in the country, why not?


AFP wants to display good public image
I believe the public always have high regards for the AFP. It is always there, what makes the public shun them are the people like Garcia (baka nandun ang budget para sa bala) or officers like the Euro generals, and perhaps many others who hides in the cloak of a snappy uniform.


What the public need is an action than a bubbly mouth.

Cousins: Gibo Teodoro Against Noynoy Aquino

For the public's information Aquino and Teodoro are second cousins, their mothers Corazon and Mercedes being first cousins in the Cojuangco family. Mercedes is the youngest sister of business tycoon Eduardo “Danding” Cojuangco.

We are all aware that the expected happens yesterday when Teodoro beats MMDA chair Bayani Fernando to be the Party's standard bearer. The two presidential aspirants took turns answering questions on
their respective positions on issues, including the Mindanao peace process, communist insurgency, climate change, youth, housing, agrarian reform, and graft and corruption. “
In the end, however, one man alone had to be chosen as standard bearer to lead the party in the elections of 2010 and, with God’s grace, to lead our country to its rightful place of dignity, unity, peace and prosperity,” Presidential Adviser for Political Affairs and Lakas-Kampi-CMD secretary general Gabriel Claudio said in announcing to the media the selection of Teodoro.

On the other hand, Noynoy Aquino by far reaches more than 50% by a survey conducted recently. Aquino, standard bearer of the Liberal Party, said “I wish him well,” Aquino said, even as he admitted that he was not really close to Teodoro.

They had always been on opposite sides of the political fence but respected each other’s positions. “(Our differences) never became personal. Maybe, we both were trying to understand where we were coming from, our backgrounds are different,” Aquino said.“Just like what my father, the late senator and national hero, Benigno ‘Ninoy’ Aquino Jr., always used to say, everyone should be running scared so as not to be complacent, “ he said.

sources: Philstar

Monday, September 14, 2009

Bob Arum to Baguio City


Once the training of the pound for pound king Manny "PACMAN" Pacquiao starts in Baguio City Bobo Arum will visit the summer capital of the country to witness its beauty.

Philstar noted in the article that Bob Arum hasn't been to Baguio and he won't miss the opportunity to be there once the training of Manny starts. He was even asking what he should do once landed in Manila but Manny assured him to booked a private flight going to Baguio. The Top Rank big boss will be staying in Baguio for afew days before going back to the States.

Sunday, September 13, 2009

Pacman at the New York Times Main Office


New York - our own boxing legend Manny Pacquiao was invited at the New York Times main office for a 45 minute round table disccussion with sports editor to discuss about his fight with Cotto, how he started as a boxer and his political plans.

The fight with Cotto could make him a P 1 Billion richer said Arum. He is guaranteed purse of $13 million in the upcoming fight but could reach $20 million.

Pacquiao earned close to $15 million each in his last two fights against Oscar dela Hoya and Ricky Hatton, and there’s just no other way but up for the one widely considered as the face of boxing today.

Pacquiao said he was gunning for a seventh world title in different weight classes, but said that’s as far as he can go. He was asked how many more fights is he looking at, and he said, “I don’t know. It’s up to him (Arum).”

Freddie Roach -It was in 2001 when he “walked into my gym looking for a trainer, and one month after we won the world title against (Lehlo) Ledwaba.”

“Guys like him come once in a lifetime. He’s the Muhammad Ali type. And I think we will never see another Manny Pacquiao at least in our lifetime,” said Roach.

Otherwise, what’s Pacquiao doing in the main office of the New York Times on a very busy day?

Source: Philstar

Thursday, September 10, 2009

For Auction: 2010 Presidential Bid is now Open! Who's Interested?

We are all aware that Noynoy Aquino is joining the race for presidential bid in 2010. This has somewhat resulted in withdrawal for some (Mar Roxas, Ed Palilio, and others) and a declaration to maintain their stand in running for president (Loren Legarda and others).


What surprises me is the stand of former Pres. Joseph Estrada. He is very determined and has a strong conviction and even said that if the opposition cannot unite for 1 president to run. He is maintaining his declaration and not giving up to pursue 2010 presidential bid. Isn't this action inflict more damage than good to the opposition? or allow me to say its illogical. What's the relationship of his bid against the unity of the party? If he decides not to run will it have impact to unite the opposition? I would rather believe him saying "I will run for President -PERIOD!!!" I think that will be enough, but forgive my tongue because I would say it is not right... All have their individual rights to declare and pursue and I hope there would really be someone from among our candidates that truly fight for genuine politics. Our country needs leaders who really have the heart for the people and not for themselves. There is Ping Lacson, Jejomar Binay, Chiz Escudero, Mike Velarde, Bayani Fernando, Noli De Castro, Gilbert Teodoro, and others that might have yet to declare...



Here are the following problems they faced once they'll win:
  1. Ballooning Debt with interest on it's neck.
  2. Aggravating Fiscal budget deficit that PGMA promised to balance; Lol!
  3. Increasing Poverty situation, contrary to "Ramdam ang Kaunlaran" (feel the improvement/development) I would say "Ramdam ang Kaunloron" (feel the sinking/hardship).
  4. Population growth
  5. Economic instability
  6. Peace and Order
Lastly, "ATTITUDE". Unless we do something, unless we take out greediness, unless we change... everything will just continue in an unending loop. I don't know what's next... famine? deep poverty? war? riots? people power? inflation rise? economic turmoil?

In all these things I still believe and hope for the best in our country... I'll try to believe.

JOINT CONGRESSIONAL OVERSIGHT COMMITTEE ON COOPERATIVES MEETING

JOINT CONGRESSIONAL OVERSIGHT COMMITTEE ON COOPERATIVES MEETING: Senate Majority Leader & Committee on Cooperatives Chairman Juan Miguel Zubiri (center) gestures as he stresses his point while Taguig 1st District Representative Maria Laarni Cayetano (left) and House Committee on Cooperatives Chairman Ernesto Pablo (right) wait for their turn during the Joint Congressional Oversight Committee on Cooperatives meeting on August 17, 2009 held at the Senate. Zubiri also said that the oversight committee will ask Finance Secretary Margarito Teves to issue an order to the Bureau of Internal Revenue (BIR) not to collect taxes from the cooperatives until after the Joint Implementing Guidelines between the Cooperative Development Authority (CDA) and BIR have been approved.

Wednesday, September 9, 2009

Gov't Grant Co-ops Amnesty from Back Taxes

A joint resolution by the Department of Finance (DOF) and Cooperative Development Authority (CDA) granted amnesty to cooperatives from back taxes that have not yet been assessed by the Bureau of Internal Revenue (BIR).

So what initially are covered under this resolution? According to the report by the Philippine Daily Inquirer the following are covered:
  1. Basically, back taxes that have not yet been assessed;
  2. Transaction with banks and insurance companies;
  3. All investments in the cooperatives are virtually tax free;
  4. Income taxes from members interest on share capital
The above however, is not conclusive as it was written on the PDI report, I still have to verify whether these are true. I will post an update once I obtain the joint resolution.

See article from PDI. here

Tuesday, September 8, 2009

$500 Million ADB Loan

Bangko Sentral Ng Pilipinas (BSP) Monetary Board approves the $500 million loan from Asian Development Bank by the PHilippine government. The amount is said to be alloted by ADB as part of its $3 Billion for the developing country such as ours to assist from the uncertain impact on the global recession.

Further, the amount loaned will be used to finance year ender budgetary support.

Originally the government has already borrowed 276.23 Billion from Jan to Jul this year.

Source: Philstar

Monday, September 7, 2009

US Firm to Invest 50 Billion

This is a very outstanding headline to post in our daily newspaper than the very sad Ferry sink. I'm not saying I don't care about the negative things happening in our country I am however concerned by the level at which how we can really care for the "Yanong Juan" or should I say "Every Juan".


On the other end, Pres GMA will attend the funeral of ka Erdie Manalo to pay last respect of the leader of the Iglesia Ni Kristo. How I hope this action will not add any color to us because the group delivers a vote rich and solid straight from its millions of members throughout the country. I least expect a working day for this as an exchange considering the groups help frm the last election.


The US-based Swiss Global Connect USA will invest $50 billion to develop priority projects in tourism, real estate development, infrastructure, agricultural research, indigenous power supply and mineral enhancements in Zambales. Consider this a very big achievement if no ZTE like transactions for the greedy then no problem, I will be the first to praise the government.


Opinions were based on the Philstar issue. here

Superferry 9 Sinks

Five people drowned and 900 terrified passengers... When do we have to learn?

As a third world country, it's unfortunate that shipping companies can't afford to purchase new sea vessels. A vast majority of these ships are probably 20 -30 years old, discarded from Japan, South Korea and other countries but apparently still being utilized in the Philippines. Since time immemorial, thousands of precious human souls have been lost due to the result of these dilapidated ships plying different routes in the archipelago. With that said, it's the responsibility of the government to strictly impose maritime laws or legislate new laws to prevent such avoidable sea tragedies from keep on happening. In the same vein, it's the primary responsibility of ship owners to follow the standard maintenance procedure in order for their fleet to be mechanically and electrically in good condition along with regular safety and other operational training for the crew.

Friday, September 4, 2009

Villar Not Yeilding for Noynoy


Sen. Manuel Villar Jr., the Nacionalista Party’s standard-bearer, said everybody has the right to run for president. Villar is leading the recent popularity surveys of presidential aspirants, said he could attribute his high ratings to the support he was getting for assisting the poor and overseas Filipino workers.


On the contrary, Liberal Party President and Sen. Manuel Roxas II, who was the party’s standard-bearer, announced last Tuesday that he would give way to Senator Noynoy Aquino to keep the party united.


Source: Philstar

Wednesday, September 2, 2009

129.6 Billion is Today's Credit Card Receivables!


The Bangko Sentral ng Pilipinas (BSP) reported that the credit card receivables rose to P129.6 billion in the second quarter of the year, from P125.7 billion recorded in the first three months of 2009. 81 percent or P104.9 billion comes universal and commercial banks.

Credit card subsidiaries of banks held 15.1 percent or P19.6 billion while thrift banks accounted for the remaining 3.9 percent or P5.1 billion.

On the quality of credit card receivables, the non-performing receivables stood at P16.5 billion, up by 7.1 percent from last quarter’s P15.4 billion and by 16.1 percent from year ago’s P14.2 billion.

Meantime, the non-performing credit card receivables to total non-performing loans ratio stood at 12.1 percent (up from 11.2 percent last quarter and 10.6 percent a year ago). The quality of credit card receivables of total banks that are not affiliated with universal and commercial banks stood better than that of banks together with their subsidiaries.

CARD Inc Issues 500 Million Notes


CARD Inc., one of the country’s most successful microfinance institutions (MFI), has successfully issued P500 million worth of corporate notes in a deal that involved six major financial institutions.

The five-year, fixed-rate funding facility carries an interest rate of eight to 8.3 percent.

The debt issue involved three financial units of the SM Group of Companies - Banco de Oro Unibank Inc. (BDO), BDO Private Bank Inc. and BDO Leasing and Finance Inc. – along with Security Banking Corp., Allied Banking Corp. and Rizal Commercial Banking Corp. (RCBC).

SB Capital director Manuel C. San Diego said the groundbreaking debt issue was oversubscribed, and that more banks wanted to join the pool.

“We had to limit the players as too many lenders would dilute it into small amounts,” he said.

He said this shows the huge potential the landmark deal would attract other MFIs to undertake similar fund-raising exercises, adding that the transaction proved that the MFI sector is a viable market.

“It is a not a philanthropic activity, it is a viable commercial transaction,” he said.

CARD director for fund resources management Mary Jane A. Parreras said the amount raised would fund the company’s medium-term expansion plans, including branch expansion in the Visayas region and the full computerization of its operations.

Parreras revealed that CARD has an outstanding loan portfolio of P1.8 billion and total resources of P2 billion. It already has P697 million in loan distribution in the first semester of 2009.

CARD currently has 449,043 borrowers, all of which are women, with a loan default rate at just under two percent. It is allied with CARD Bank, a 30-branch rural bank, and the Rural Bank of Sto. Tomas (Batangas), both of which are involved in micro-lending.

The Washington-based foundation has a $60 million global facility for microfinance. Of that, approximately $7 million has been allocated for the Philippines in the form of guarantees and direct loans.

Source: Philstar original article, click here