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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A crisis cycle
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J. Albert GamboaBy J. Albert Gamboa

July 21, 2017

A crisis cycle

FINEX Folio is a rotating column of members of the Financial Executives Institute of the Philippines appearing every Friday in BusinessWorld, opinion section.

Members of the Financial Executives Institute of the Philippines (FINEX) had been excitedly anticipating the general membership meeting last July 19, as the confirmed guest speaker was Defense Secretary Delfin N. Lorenzana.

However, FINEX President Benedicta Du-Baladad was informed at the penultimate hour that President Rodrigo R. Duterte’s designated martial law administrator in Mindanao had to attend to important matters related to this weekend’s special session of Congress on the proposed five-month extension of martial law. Instead, he sent one of his undersecretaries to talk on “Securing the Nation: Marawi Crisis.”

This month’s issue of FINEX Focus, the premier financial organization’s official publication, revolves around authoritarian rule with the cover story written by FINEX’s past president Santiago F. Dumlao, Jr. on “Martial Law, Then and Now.”

Allow me to share a joint editorial with Media Affairs Committee Chair Manuel R. Guillermo published under our “Key Points” column:

The terrorist attack came hard, fast, without warning, and thus conclusive – from a strategic sense. What followed next was an admirably commensurate response from our armed forces, equally hard and fast, which could lead to a reclaiming of lost territory very soon.

At the epicenter of this chaos is Marawi City in north-central Mindanao, shaking the consciousness of Filipino citizens everywhere, and presumably those of our neighboring countries. The price has been high: hundreds of lives lost; thousands of families turned into pitiful refugees; scores of properties destroyed; and normal existence degraded.

President Duterte has been decisive, vowing to swiftly wipe out the Maute Group and their cohorts. Many of us have likewise quickly supported his declaration of Martial Law in the entire Mindanao to stem the conflict from spreading beyond Lanao del Sur.

There are fears that by its very concept, military rule could bring about a new crisis – the probability that it would eventually encompass the whole Philippines due to the slightest provocation. Such thinking might be tinged with paranoia, borne out of our nation’s experience under a notorious past regime.

In any case, we have enough safeguards in the 1987 Constitution to prevent the abuse of its Martial Law provisions, which the 1935 Constitution did not provide. Nevertheless, the Marawi tragedy calls for a more vibrant discourse among our people. Re-educating our Filipino youth on the perils of excessive counter-measures should be necessary and timely.

But unfortunately, this scenario currently prevails: The silence is deafening. A vehement outcry from fear and dismay is reduced to guarded whispers or even to a cat’s whimper. The apparent affliction of public apathy debilitates, far worse than an insidious form of cancer that destroys everything in its path. The father’s sacrifices are lost on the sons, while the lessons of the past are conveniently abandoned due to overwhelming indifference.

This inspires us to quote from Lutheran pastor Martin Niemoller, who lamented the cowardice of German intellectuals following the Nazis’ rise to power and their subsequent purge of selected targets:

“First they came for the communists, and I did not speak out – because I was not a communist. Then they came for the trade unionists, and I did not speak out – because I was not a trade unionist. Then they came for the Jews, and I did not speak out – because I was not a Jew. Then they came for me – and there was no one left to speak out.”

Our national hero, Dr. Jose Rizal, once wrote: “I am blamed for everything because I have been more outspoken than anyone else, more frank than others in saying what I thought, but never a hypocrite or traitor.”

And was it Irish statesman Edmund Burke who said this? “The only thing necessary for the triumph of evil is for good men to do nothing.”


That’s the theme of the 6th Asia-Pacific Housing Forum on July 25-26 at the Novotel Araneta Center in Quezon City.

Organized by Habitat for Humanity Philippines, the forum will serve as an “urban thinkers campus” under the United Nations’ World Urban Campaign. Some 500 multi-sector thought leaders and housing stakeholders are expected to attend the two-day event with a wide array of global and local speakers.

Habitat for Humanity International started as a grassroots effort in 1976 and has become a leading non-profit group working in nearly 70 countries. Since 1988, its Philippine affiliate has supported more than 140,000 Filipinos in building or improving places they can call home. To learn more, donate, or volunteer, visit

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.