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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Message from the President:

Benedicta Du-Baladad

To FINEX members and friends,

Greetings to all FINEX members especially the women whose contribution to this world is being celebrated this month. March is the International Women’s Month. In FINEX, we make this memorable and significant by launching the Women in Finance Committee (WIC).

Last February 15, we held our 2nd General Membership Meeting (GMM) with Department of Budget and Management (DBM) Secretary Benjamin Diokno and Institute of Corporate Directors (ICD) Chairman Francis Estrada as speakers. The discussion focused on the administration’s budget policies and how it adhered to good governance. The GMM was co-hosted by our Good Governance Committee.

Also, today, as we push forward FINEX’s advocacies on tax reform, we are having Undersecretary Karl Kendrick Chua of the DOF and Congressman Joey Salceda, Congress’ Committee on Ways and Means Vice Chairman as our main speakers. It is our objective to provide our members a venue to understand and participate in the discussion of this significant reform of our fiscal system. We are very thankful to our speakers for accepting our invitation. Our speakers today are the proponents of the administration’s tax reform program which is envisioned to help our country become competitive, ease the burden of paying taxes, and hopefully, achieve inclusive growth.

On advocacy

At the onset of my term, we have identified four (4) finance related focus area of our advocacy – the tax reform, a robust and sustainable pension fund, good governance in public spending and the development and deepening of the capital market.

In line with our advocacy for tax reform, through our Tax and Legal Committee and National Affairs, FINEX was able to submit its position papers on House Bill No. 4774 and on Estate Tax. I, together with the heads of our Tax & Legal and National Affairs Committees, attended several public hearings, both at the lower house and in Senate, on bills reforming our tax system.

FINEX is also an active partner to the Philippine Chamber of Commerce and Industry and the Department of Finance in promoting the Tax Reform Program of the government during the roadshows that were held throughout the country.

On the pension fund system, we had a high level closed door breakfast forum with SSS President Atty. Manny Dooc as speaker for a briefing on the current problems now besetting the pension fund, and how they plan to address this. As a follow through to this, we will schedule another briefing session on studies made by McKinsey on pension funds in other countries. DOF, SSS, GSIS and BSP will be invited.

On good governance, FINEX hosted the 2nd BDB Law-FINEX: Top Agenda last March 10, 2017 with Mr. Santiago Martinez, CEO of Providentia Ltd., as the guest speaker.

Other activities were also done jointly with other organizations. FINEX co-sponsored the Meet Russia Forum with MAP and Philippine-Russian Business Assembly on March 3, 2017. FINEX sent a delegation to the Special Integrity Forum on the Philippine Development Plan 2017-2022 on March 3 which was co-sponsored by the Integrity Initiative and British Embassy Manila.

Past activities

We had various events during the past month.

Last February 23, our Professional Development Committee hosted the Forum on PERA Law with 69 participants. The event was covered by Marissa del Mar at Aksyon TV’s Buhay OFW and Philippine Daily Inquirer.

On February 25, the Sports and Wellness Committee, together with the Environment Committee, sponsored the 1st trekking activity of the year at Mt. Makiling with 33 participants.

The Arts Committee of the FINEX Foundation participated at the Disenyo at Talento Talk with designer Patis Tesoro last March 2, 2017.

Last March 4, the Junior FINEX Committee organized the 1st JFINEX Business and Finance Leaders Forum. Centro Escolar University hosted the venue for this event. Other sponsors were JP Morgan Chase, Jollibee Foods Corporation and Forecasting and Planning Technologies, Inc. The forum featured FINEX EVP Ned Goseco, EON’s CEO Junie del Mundo, Lamoiyan’s COO Joel Pedro and Carmen’s Best’s President Paco Magsaysay as speakers. This is one of the fora that the JFINEX is hosting this year to reach all the future business and finance leaders of the country.

Future events

In the coming months, we have a lot of exciting activities to look forward to.

On March 30, your Professional Development Committee will host the Economic Briefing. BSP Monetary Board Member Felipe Medalla, ING Philippines Senior Economist Joey Cuyegkeng and experts from the Asian Development Bank and McKinsey Philippines were invited as resource speakers.

The Tax and Legal Committee will also host the Tax Updates Forum and Securities Regulation Code and Corporate Governance Code Forum in April.

The annual Parangal Golf Tournament in honor of BSP Governor Amando Tetangco, Jr. will be held on April 29. This is one of our activities which honor the great contributions of Gov. Tetangco in our country’s economic growth.

Aside from all of these events, we should look forward to the FINEX Annual Conference in October, 11th ING FINEX CFO of the Year Award and the Ayala FINEX Finance Summit. We are also planning to hold the ASEAN Capital Market Forum in conjunction of the Philippines’ hosting of ASEAN Summit 2017.


I would like to reiterate my appeal to all to pay your 2017 membership dues. All our projects will not be possible without the financial support from all of us. Likewise, please nominate for additional members to FINEX.

In addition, we would like to appeal to everyone to support our organization by being one of its corporate sponsors this year. We have crafted various sponsorship packages for you to choose from.

As I have mentioned during the last GMM, our organization will be celebrating its golden anniversary on January 15, 2018. Aside from the various activities that are being developed, it is our objective to recruit 200 new members. I hope that you will enjoin us in this endeavor by inviting your friends and colleagues to join FINEX.


These are the just some of our projects for the year and we hope to bring you more exciting activities. I also look forward to seeing our membership numbers grow. We may be over 750 members - strong but we should harness our potential in numbers.

To end, I invite our members to get more involved in the activities of FINEX this year – attend your GMMs, join the various Committees, participate in our workshops and seminars, be one of our resource speakers, write for the FINEX Focus and volunteer your services for the various FINEX advocacies.

All the best!

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.