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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Zoilo By: Zoilo "Bingo" P. Dejaresco III

MANILA BULLETIN (Business Option)
August 10, 2017


Business Option is a rotating column of members of the Financial Executives Institute of the Philippines appearing every Tuesday & Thursday in Manila Bulletin, business section.

The 3,747 successful new lawyers for 2016 with a passing rate of 59% was the highest ever in bar history. It is heartening to see a new batch of young, idealistic lawyers etch their mark for society's common good.

For they have certain similarities with journalists.

Lawyers and journalists, for instance, often find a common ground in their collective search for "Truth and Justice" while buffeted by similar forces in the dark corners that militate against their quest for a just and humane society. There are other uncanny similarities between them.

True-blue lawyers and journalists respect the sanctity of truth. To them, the truth is indivisible. Take away one part of it - and it becomes a half truth. And a half-truth is a half-lie. And there is nothing sacred with that.

Both need to swing their audience to their points of view. Journalists woo and court public opinion while lawyers want a favorable decision from their judge. While lawyers can appeal their losing case to the higher courts, once the journalists lose their credibility- they will lose in the court of public opinion - irreversibly.

Both rely on the power of words. King Solomon said in the Holy Bible:"Death and life are in the power of the tongue." And we might add- in the power of the written words, as well.

Journalists and lawyers know that words have power and energy, In fact, they agree that words -singularly- are the most powerful force available for the use of humanity.

Both lawyers and journalists are in perilous livelihood. With so much at stake, many in the legal profession -in the field of duty- have been maimed, blackmailed or killed

A staunch environmentalist -lawyer, for instance, Mia Mascarinas- Green was murdered inside her car -in front of her horrified children and nanny in February. It took almost five months to accost the high profile murder mastermind in Lloyd Lancer Gonzaga (34) in Davao City. The suspected hit-man named Romarico Binagi-an remains at large.

Media men are in the same boat. Despite our pervasive Christianity and democracy, some 176 media men have been murdered according to the National Union of Journalists of the Philippines (NUJP) with a very low percentage of resolution.

After 7 years, the poster boy of mass media killings in the Maguindanao massacre (32 dead) has no single conviction yet although many are in jail facing trial. The alleged murder masterminds of journalist Marlene Esperat of the Midland Review in 2005 (11 years ago) are reportedly still at large.

Both institutions- the legal and journalism professions- are the "Great Equalizers" in society. Media provide voice to the voiceless, defense to the weak and as a Fourth Estate, is necessarily adversarial to the powers-that-be.

Lawyers give the citizens the option to seek redress of grievances in a forum outside the cruel world out there- where only the powerful, the rich and those with guns dictate what the law is.

For journalists, freedom of the press and expression is a birth right enshrined in our Bill of Rights. Lawyers, on the other hand, cite the Bill of Rights in trying to stop the excesses of government to oppress the common citizenry.

Authentic journalists know that like public officials -when they are engaged in discourse and programs that concern the public like corruption and inefficiency - they also assume the nature of a public persona. Being such, the public has a stake in their lives and has the right to know if they have the character and integrity to have the right to criticize others and make them do good.

Lawyers and journalists both pay homage to transparency, accountability, and the supremacy of the rule of law. Lawyers owe their primordial allegiance not only to their clients but also have an obligation to society and the courts.

With respect to the client-agent relationship, even information relayed to lawyers before their engagement will remain a guarded secret in the minds of lawyers -even if the engagement does not materialize. Journalists, on the other hand, have a sacred duty to serve the cause of truth and public welfare. Not even the Supreme Court can force a journalist to reveal the source of his story.

Both practitioners adhere to the supremacy of the moral truth. They are supposed to adhere to moral absolutism -where "moral truth is there- whether people will believe it or not." As contrasted to belief in "moral relativism" which treats truth as subjective. And as it is always questioned: if all morality is subjective- what is the point of making a stand against evil?

Moral truth practitioners make their decisions and actions based on what is right and not on self-interest. Because when self-interest rules - "this has a profound effect on their behavior especially on how they treat human beings.".

Thus, moral truth is betrayed when a journalist twists his facts in exchange for thirty pieces of dirty silver. A lawyer commits the same when he is a party to paying judge a bribe in order to corrupt the latter's judgment.

Thus, we enjoin all committed lawyers and journalists to continue to uphold "Veritas Aequitas" - Truth and Justice- in their societal work. They are needed by society to provide the integrative force that will combat the human tendencies of the world towards materialism, domination of the weak and the greed for unmitigated power.

They should remain as society's "Great Equalizers."

Necessarily, there will be reactionaries that will provide barriers that serve to impede rather than assist them in realizing their societal goals. They should not falter, they should not walk into the darkness and die. For they are to a noble purpose born-and they will succeed.

It has been said that there are two most important dates in our lives. First, is the day we were born. And second, is the day when we find out why we were born.

It is our hope that in becoming new lawyers have found the second most important day in their lives. Shalom!

( Bingo Dejaresco, a former banker, is a financial consultant, media practitioner, and book author. A Lifetime member of Finex, he is Chair of both Finex' Professional Development and Broadcast Media committees. His views here, however, are personal and do not necessarily reflect those of Finex. This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

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.