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President's Message
Atty. Benedicta Du-Baladad Message from the President:

Benedicta Du-Baladad

To FINEX members and friends,

November 2017 Issue

We are now on the final stretch of 2017. This year has been one of the busiest and exciting for both FINEX and the country.

Earlier this month, our country was once again placed in the limelight as we hosted this year’s ASEAN Summit. The summit provided us to showcase what our country can share to the world and the creativity of the Filipino people. Indeed, the recent hosting of the ASEAN summit placed our country

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Winning in the 4th Industrial Revolution
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Mr. Ronald S. GosecoBy Ronald S. Goseco

September 15, 2017

Winning in the 4th Industrial Revolution

FINEX Files is a rotating column of members of the Financial Executives Institute of the Philippines appearing every Friday in Manila Times, business column section.

The Financial Executives Institute of the Philippines (FINEX) will be holding the 3rd Ayala –FINEX Summit on September 20, 2017 from 2:00 pm to 7:00 at the New World Ballroom in Makati. The theme of the summit will be: The CFO –Catalyst and Strategist in the 4th Industrial Revolution. The impacts of this revolution will be discussed.

In a previous article we described the evolution of the various industrial revolutions. We also described how the shifts and disruptions will provide us with great opportunities but will expose us to greater risks. We presented a picture of greater efficiencies in the way we manage our assets and the way we connect our supply chain. The challenge for all of us is how we can come out as winners and benefit from all these developments.

The Summit will also capture some of the emerging trends that KPMG recently covered in a recent report on infrastructure The report concludes that around the world, uncertainty is rife. That political agendas and social expectations are changing, power is shifting and technology is disrupting everything.

The report showed that traditional lines between energy, infrastructure and technology continue to blur and intersect each other. These sectors will rapidly grow and their growth will be inter-dependent of each other. Governments will strive to implement a low carbon transportation agenda while at the same time shifting energy generation to renewables. This will be a balancing act of addressing both the supply and demand of a growing population. A clear example is the recent China pronouncement that they will shift 20% of their transport requirements to electric vehicles by 2025. This comes at the heels of a similar pronouncement by the French of their 2040 targets.

The way we respond in the Philippines to this growing demand for energy, transportation and technology will be critical to our success as a nation. Developing these areas will determine economic growth and social inclusivity.

Over the past years, both technology and consumer behaviour have merged. The changes related to this have turned common wisdom and marketing approaches on its head. Consider the changes in how millennials in the developed world, or even here, interact with transportation infrastructure. They no longer see the need to own cars. Think Uber and Grab. When they use a personal vehicle, it is often shared. They have real time traffic and navigation apps, like Waze to select their routes. Environmental impact influences the transportation decision as much as costs and convenience.

In the Philippines, this trend is playing somewhat differently. Rising affluence and a rapidly expanding middle class has triggered a 20% annual growth in auto sales. It has also led to massive demand in air travel. The question is how long this trend will last.

Across the globe, governments are considering how new technologies – renewable generation, energy storage, autonomous cars and othes will influence infrastructure. Everyone is taking note of the need to embrace technology like blockchain in Fintech, sharing economy and open data to ensure that these growth enablers will play a positive role in future employment and wealth growth.

These rapid technological changes is also creating a growing concern on the risks that current investments on capital goods could become technologically obsolete before the end of their anticipated life. It is expected that the impact of technology will widen and deepen. The widening will come from the discovery and application of new technologies and increased collaboration between asset owners and consumers. The deepening will be driven by the owners themselves as they strive to achieve greater efficiency and value.

The Summit will try to answer some of the questions so we could all come out as winners… or rather that we could be part of the select few who will emerge as winners in this new economy.

Ronald Goseco is currently EVP of FINEX and President of IDI-VW
Ronald Goseco is currently the Executive Vice President of FINEX and President of IDI-VW

Managing Millenials
Mr. Ronald S. GosecoBy Ronald S. Goseco

December 14, 2017

Managing Millenials

I was recently asked by our principal how different it is to manage today’s millenials as compared to a similar group of individuals twenty years ago. They asked me this since I previously managed auto dealerships twenty years ago with individuals with the same age profile.

Will RP Fit in the Integrated ASEAN Mold?
Zoilo By: Zoilo "Bingo" P. Dejaresco III

December 13, 2017

Will RP Fit in the Integrated ASEAN Mold?

THERE HAVE BEEN REAL TRIUMPHS during the ASEAN Meeting in Manila. Sometimes, Filipinos pinch themselves if these are indeed sustainable?

The ASEAN with 600 million people and with the highest regional GDP growth rate-necessarily- attracts many seller-nations and investors. But with the ASEAN integration- with tariffs down among the ASEAN nations- this would ensure ASEAN should be for ASEANs, first.

Asian economic integration
By Mercedes B. SuleikBy Mercedes B. Suleik

Business Mirror (FINEX Free Enterprise)
December 05, 2017

Asian economic integration

On October 25 the Asian Development Bank (ADB) released a report on Asian Economic Integration and commented on the lessons learned after the Asian financial crisis 20 years ago. It stated that growing trade and investment linkages in Asia and the Pacific have helped to improve the region’s economic resilience to uncertainties in the global economic environment. Asia’s intraregional trade rose in 2016 and acted as a buffer against headwinds from uncertainties in global trade and policy. Subregional trade integration was strongest in East Asia, followed by Southeast Asia and Central Asia.

Flor G. TarrielaBy Flor G. Tarriela

Business World (FINEX Folio)
November 24, 2017


Philippine Gross Domestic Product (GDP) increased by 6.9% in the 3rd quarter but agriculture grew at a slower pace at 2.5% vs 3.0% in 3rd quarter 2016. Still, agriculture showed better growth of 4.6% YTD 2017 vs -1.3% in 2016.

Mr. George S. ChuaBy Mr. George S. Chua

BUSINESS MIRROR (Free Enterprise)
November 22, 2017


A number of months ago, I saw a Bloomberg interview of two young enthusiastic gentlemen who were the co-country directors of this relatively new multinational company called Transportify. As I was listening to the interview of Noel Abelardo and Paulo Bengson, of what Transportify was all about, I thought it was a great idea. The easiest way to explain it is if you have Uber and Grab as an app to transport passengers, you have Transportify to transport goods and packages.

The Importance of Development Finance
Mr. Benel D. LaguaManila Bulletin
MANILA BULLETIN (Business Option)
October 30, 2017

The Importance of Development Finance

Access to finance is always a daunting topic as it addresses two basic issues. Financial exclusion occurs when those denied access have economic and social return on investment better than those with regular access. The second issue is the response to concerns of inequality and the need for better redistribution of wealth.