President's Message
Ma. Victoria C. Españo Message from the President:

Ma. Victoria C. Españo


PRESIDENT’S MESSAGE

Year 2018 is indeed a special year for FINEX: it marks our 50th anniversary as a leading organization of finance professionals. Through the able leadership of our past presidents and the multitude of members who have actively participated in and supported our different initiatives, we have made significant achievements in supporting the professional development of finance executives,

Read More
Affiliations
Ads
ASEAN’s next 50 years
Print PDF
J. Albert GamboaBy J. Albert Gamboa

Manila Times (Finex Files)
August 25, 2017

ASEAN’s next 50 years

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 Association of Southeast Asian Nations (ASEAN) commemorated its 50th anniversary this month through simultaneous celebrations across the regional bloc’s 10 member states.

With the Philippines as this year’s ASEAN Chair, 50 key cities and municipalities in the country joined the golden jubilee festivities. Kickoff event was the unveiling of a tribute painting for the ASEAN’s founding fathers at the Philippine International Convention Center during the opening ceremony of the 50th ASEAN Foreign Ministers’ Meeting.

In Kuala Lumpur, Department of Trade and Industry (DTI) Secretary Ramon M. Lopez told the ASEAN@50 Conference: “2017 marks an opportune time to reflect on what the ASEAN has achieved over the past five decades and what is seeks to accomplish ahead.”

He said the region should focus on communication and collaboration so that economic opportunities will be equally felt by all ASEAN citizens, emphasizing that “our communication must be sustained and intensified if we want to reap the benefits of the ASEAN Economic Community (AEC), working towards a deeper regional integration in 2025.”

According to Lopez, cooperation and complementation are at the heart of ASEAN integration efforts, while the AEC reflects connectedness as the region’s diversity becomes a source of attraction to global investors.

If taken as a single economy, the ASEAN is now the fifth largest in the world after the United States, the European Union (EU), China, and Japan. Having a combined population of 630 million and gross domestic product of $2.4 trillion, it is considered the most successful regional grouping next to the EU.

Kavi Chongkittavorn of Thailand commented in the Nikkei Asian Review that in order for the ASEAN to stay relevant over the next half-century, its leaders must develop a unified and coherent strategy. He made an observation that “in the past, ASEAN leaders could get away with hedging their responses to emerging issues and pressures from outside powers.”

Meanwhile, the ASEAN Center for Biodiversity (ACB) based in the University of the Philippines at Los Banos in Laguna warned: “The region is poised to lose 70-90% of habitats and 13-42% of species by 2100.”

ACB’s latest outlook warned that our biological diversity would greatly be eroded by the end of this century if the destruction of the environment continues unabated, noting that the ASEAN is home to the “mega-diverse countries of the Philippines, Indonesia, and Malaysia.”

Given these scenarios, what’s in store for the ASEAN in 2067? Will it become a world economic power by the time of its centennial year?

CHANGING LIVES THROUGH MASS HOUSING

8990 Holdings Inc. President and CEO Januario Jesus B. Atencio III stunned his audience at last month’s annual stockholders meeting by announcing that he will retire in December this year. In 2003, he co-founded the flagship firm called 8990 Housing Development Corporation together with Chairman Emeritus Luis N. Yu Jr. and Chairman of the Board Mariano D. Martinez Jr.

Atencio subsequently issued a clarification regarding some reports about his retirement that seemed to convey the idea that 8990’s success is his legacy alone and that he is solely responsible for turning 8990 into one of the nation’s leading mass housing companies.

“The statement is rather embarrassing for me. The success is not just mine but a collaborative effort, with the leadership and guidance of my business partners Luis Yu and Mariano Martinez, as well as the executives and staff all through these years,” he clarified. His likely successor is current COO Willibardo Uy, who joined the company in 2015 after retiring as president of Phinma Property Holdings Corporation.

Young adults between the ages of 20 and 35 accounted for more than half of 8990’s total sales in recent years. Atencio believes that residential units costing P450,000 to P1.4 million are within the reach of millennials who live and work in Metro Manila.

Such a price range is comparable to that of a good second-hand car nowadays. Should the buyer require financing, the monthly amortization would be equivalent to two cups of gourmet coffee drinks per day.

Still on the housing sector, kudos to Habitat for Humanity Philippines on its successful staging of the 6th Asia-Pacific Housing Forum (APHF) at Novotel Manila Hotel in Quezon City.

APHF has brought together more than 3,000 participants from 52 countries since its launch in 2007. A new track on "Technology for Affordable Housing" was introduced this year, featuring cutting-edge technologies that could be used for increased access to decent housing.

Affordable housing is indeed a key factor in various global initiatives, including the United Nations (UN) Sustainable Development Goals; the New Urban Agenda of the UN’s Habitat Conference III; and the resilience plans of the Paris Agreement on Climate Change.

The author is Chief Financial Officer of the Asian Center for Legal Excellence and serves as Co-Chairman of the FINEX Media Affairs Committee.

FEATURED ARTICLES
Chinese influence in business
Ms. Wilma Inventor MirandaMs. Wilma Inventor Miranda

BUSINESS MIRROR (FINEX Free Enterprise)
February 16, 2018

Chinese influence in business

With the celebration of Chinese New Year, it is a perfect time to look deeper into how the Chinese greatly influence our economy. When we see “made in China” nowadays, we usually relate that to cheap items, low quality, fake goods and imitations. But this article will not focus on the Chinese from the mainland but the Chinese who began their businesses generations ago and have children who are now Filipino-Chinese and successful businessmen themselves.

Read more...
Dr. Jose Pardo – Just Think Positive!
Flor G. TarrielaBy Flor G. Tarriela

Business World (FINEX Folio)
February 16, 2018

Dr. Jose Pardo – Just Think Positive!s

Last Saturday Jose “Titoy” Pardo, PSE Chairman and former Secretary of Trade/Finance was conferred the Degree of Doctor of Science in Finance by De La Salle University headed by Br. Raymundo Suplido.

At the luncheon celebration, the “new Doctor” was asked to dispense a cure to problems at hand, he shared how to cope with emerging VUCA (Volatility, Uncertainty, Complexity and Ambiguity) related problems. Dr. Pardo picked up from Dr. Charles Handy, author of The Age of Unreason, who said “All businesses or any economic activity are vulnerable to shock and inevitably will experience tremors in the market place. The important thing is to be quick in responding to change and to never succumb to the status quo style of management. If it ain’t broke, fix it.”

Read more...
PSE: Unified at last
J. Albert GamboaBy J. Albert Gamboa

MANILA TIMES(FINEX Files)
February 16, 2018

PSE: Unified at last

More than 25 years after the merger of the Manila Stock Exchange (MSE) and the Makati Stock Exchange (MKSE) into the Philippine Stock Exchange (PSE), the country’s securities industry is set to be finally unified in a single trading floor.

Read more...
Ethical challenges in today’s world
By Mercedes B. SuleikBy Mercedes B. Suleik

BUSINESS MIRROR(FINEX Free Enterprise)
February 14, 2018

Ethical challenges in today’s world

Pundits sometimes quip that “business ethics” is an oxymoron, a contradiction in terms because it is said that there is an inherent conflict between ethics and the pursuit of profit. But more and more, as we see the effects of such unmitigated self-interest, we begin to wonder whether the mantra of the 1980s, “Greed is good” has not visited disaster on so many people today. Today we find ourselves in a quandary—is our world spinning out of control? Has evil taken root in every sphere of our lives, so that even the very means of our efforts to sustain our existence are now suspect?.

Read more...
A La Juventud Filipina
By Mercedes B. SuleikBy Mercedes B. Suleik

BUSINESS MIRROR(FINEX Free Enterprise)
September 13, 2017

Faith in the workplace

It has often been considered that faith and the ordinary life of a person, that is his work, his daily activities, are not compatible. That, for instance, being ethical and being guided by morals in business or in the workplace, must be dichotomized from religious belief.

Read more...
Swedish death cleaning and Lagom
BENEL D. LAGUABy BENEL D. LAGUA

Swedish death cleaning and Lagom (Business Option)
Feb.15, 2018

Swedish death cleaning and Lagom

Mafe, my beloved spouse, has been asking me recently to start disposing some of the old stuff that have been untouched in our attic. After all, I’ve accumulated quite a ton of books, magazine and school stuff from studying and teaching all these years. And even my clothes and gadget collection (men stuff) have remained to pile up. It all came to head recently when she shared Margarita Magnusson’s new book, “The Gentle Art of Swedish Death Cleaning.”.

Read more...
Partners