Chinese bizmen interested in Cagayan investment hub

By Villamor Visaya, Jr.

TUGUEGARAO CITY – After a two-day tour in Cagayan, a group of Chinese businessmen have expressed interest in investing in the economic and industrial zones of the province.
    Cagayan Governor Manuel Mamba told the Philippine News Agency on Wednesday that the Chinese investors led by Vivian Zhang, Chen Yan and Xhen Zhen Cui toured economic areas in the region and the proposed areas for development, including the proposed international airport at the tri-boundaries of Tuao, Piat, and Solana towns from Dec. 19-20.
    Zhang said once they are back in their country, “we will also definitely endorse the province’s economic zones for possible investments.”
    The Chinese traders were briefed about Cagayan’s investment plan by provincial officials.
    The Cagayan International Gateway Project, which includes the long-term development plans of the province such as the Cagayan International Airport, Cagayan Smart City, International Seaport, Heavy Industrial Park and Cagayan Railway were presented to the investors.
    Rolando Calabazaron, Cagayan Provincial and Planning Development Officer, described Tuao as “a strategic location as the center of neighboring provinces such as Apayao and Kalinga.”
    The vast land could potentially be developed at any time for investment, he added.
    Meanwhile, during their visit to the Port of Aparri, the investors were briefed on its history and its proposed reopening.
Aparri town administrator, lawyer Mary Jane Tadili said the "expansive areas" of Aparri West and East will be connected through the current bridge that is being built in the area, while a space for the industrial zone for investors is also ready.
In Enrile, Mayor Miguel Decena Jr. presented the tourism development plan of his town including a view deck with a zipline in the "Tsukulate Hills" and a fishery in Carague Lake.
    Zhang, who owns a silk cloth and courier business and is president of the commerce chamber in Zhejiang, China, said their group has at least 100,000 members.
    Chen's family, on the other hand, owns some 200 coffee and cake shops, aside from a plane and car seat factory. -- PNA
 
 

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Big projects set in Baguio; investors to pour in money

By Gaby B. Keith

BAGUIO CITY – Big projects in this summer capital are in the works.
    This, since many reputable corporations have been investing and many more would like to invest in the city’s various development projects because of good governance, according to Mayor Benjamin Magalong in a media interview, Oct. 2 at City Hall.
    “Marami ang nag-iinvest dito dahil alam nila na walang nangyayaring corruption. Iyan ang importante, dapat walang corruption. Kaya hindi mahirap mag-imbita (ng investors),” Magalong claimed.
    Ever since the Mayor took office, good governance has been one of his administration’s main thrust which calls for, among others, accountability, transparency, honesty, no corruption, effectiveness, and efficiency in serving the public.
    In line with this, the Mayor issued a memorandum directing local department heads and office representatives to attend the City’s Investment Summit on October 4 and 5 at the Baguio Convention and Cultural Center with the theme, “Public Private Partnership (PPP): Promoting Private Sector Engagement for Sustainable Development in Baguio City”.

It revealed that the city’s private sector proponents will present their proposals and the public is encouraged to actively participate in the activity to gain better understanding of the city’s proposed PPP developments.

Projects to be presented during the event include the Market Redevelopment Project; Intermodal Transport Terminal; Electric Monorail and Bus Transport System; Smart Urban Mobility Project; Asin Hydropower Plants Development and Improvement Project.

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Summit to tackle Baguio market dev’t, big projects

By Aileen P. Refuerzo

BAGUIO CITY -- The city government will present six of its high impact projects including the Public Market Redevelopment Project for public scrutiny in a Public-Private Partnership (PPP)-Investment Summit slated Oct. 4-5, 2023, 1-5 p.m. at the Baguio Convention Center.
    The summit which will have the theme, "Public Private Partnerships: Promoting Private Sector Engagement for Sustainable Development in Baguio City" is open to the public.
    Aside from the market, other projects that will be presented are: the Intermodal Transport Terminal, Electric Monorail and Bus Transport System, Smart Urban Mobility Project, Asin Hydropower Plants Development and Improvement Project and the Session Road Development Project.
    Mayor Benjamin Magalong directed the conduct of the summit to help the public gain better understanding of the city’s proposed PPP developments.
    The private sector proponents will present their proposals and the participants will be given the opportunity to ask questions and clarify matters with the project proponents during the question-and-answer portion.

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SEC warns public from investing in two firms

The Securities and Exchange Commission (SEC) warned the public against investing their hard-earned money on companies without license or permit from the concerned government regulatory agencies.
    The SEC Enforcement and Investor Protection Department issued separate warnings against the operations of Bagong Bansang Maharlika (BBM) International Inc. (BBMII) and White Dragon Investment Group soliciting investments from the public.
    SEC investigation disclosed that BBMII operates in the whole country enticing prospective members and collecting P100 pesos as processing fee for identification cards. Through the use of the social media and seminars conducted in public places and radio stations, the BBMII program entices the prospective members by promoting and offering its so-called “assured benefits” in the form of food security, medical services, livelihood, free education and cash assistance for the senior citizens starting fifty (50) years of age and above, among others.
    Per SEC records, the BBMII was registered with the Commission on 18 March 2022 under SEC registration No. 2022030046453-01 and with principal address at J.P. Laurel St., San Juan (POB.), Samal, Bataan, Region III, (Central Luzon), 2113 but their registration only gives juridical personality to operate as a corporation and does not encompass activities which requires the necessary permit such as but not limited to operate as a Private Social Welfare Development Agency (SWDA)1 from the Department of Social Welfare and Development (DSWD).
    “As the Certificate of Incorporation issued to BBMII shows, while such Certificate grants juridical personality to the corporation, the Certificate of Incorporation does not constitute a permit to undertake activities for which other government agencies require a license or permit,” the SEC warned.
    SEC investigation department revealed that BBMII does not appear to be among those SWDAs with valid registration/license to operate or accreditation with DSWD as of July 31, 2023.
    On the other hand, White Dragon Investment Group headed by a certain Justin Arvin Santos Atendido, enticing the public through social media platforms to invest in its various business sectors, including real estate development, food and beverage, franchising, leisure and gaming services, poultry and egg, as well as private investments – is not authorized by SEC.
    The group recruit investors by offering investments to the public for a minimum amount of P100,000.00 for a 3% monthly interest or equivalent to a total of 36% annual return on investment in violation of Sections 8, 26 and 28 of the Securities Regulation Code as well as the Financial Products and Services Consumer Protection Act.
    To report investments frauds, send an email to epd@sec.gov.ph. – JMPS

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3,911 Cordillera gov’t bodies included in reg’l 6-year investment plan

By Mannett R. Balaki

BAGUIO CITY -- A total of 3,911 programs, projects, and activities (PPAs) from 36 regional line agencies (RLAs) six provincial local government units (LGUs) and Baguio City, the primary growth centers and inter-local cooperation areas of the Baguio, La Trinidad, Itogon, Sablan, Tuba and Tublay (BLISTT) and  Eastern Kalinga Growth Center (EKGC) including six state universities and colleges (SUCs) were enrolled in the Cordillera Region Development Investment Plan (RDIP) 2023-2028 through the Cordillera Administrative Region Investment Program Online (CARIPOL) System.
    Based on enrolled programs and projects, the region requires a total investment amounting to P344.6 billion from 2023-2028.

As an accompanying document to the Cordillera Regional Development Plan (RDP) 2023-2028, the Cordillera RDIP collates the region’s goals and strategies in the RDP into implementable programs and projects.
    During the 2nd quarter Cordillera Regional Development Council meeting on June 8, Cordillera National Economic Development Authority regional director   Susan Sumbeling presented  results of activities undertaken to formulate the RDIP.

The RDIP serves as the six-year investment programming document that contains the priority programs and projects of the region.

These public investment PPAs are proposed by RLAs, LGUs and SUCs for funding by the national government, public-private partnership (PPP), Official Development Assistance (ODA) and Government Financial Institutions (GFIs).​

It is also a reference in the annual budget preparation of the region to assess prioritization of budget proposals of RLAs and SUCs for a specific fiscal year and in the evaluation of project proposals to be implemented in the region.

A two-level prioritization was conducted based on a set of sectoral criteria approved by RDC sectoral committees and a set of global criteria approved by the RDC that considers the relevance, scope of benefits, readiness, and agency priorities of the PPAs.

The list of regional priority PPAs included 65 Capital and 38 Technical Assistance PPAs.

The top regional PPAs represent the development priorities of the five sectors in the region -- economic, social, infrastructure, development administration and governance and watershed and environment.

 

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Pangasinan to build int'l seaport in Sual

By Hilda Austria 

SUAL, Pangasinan – The provincial government of Pangasinan is accepting proposals from investors for the establishment of an international seaport in this town.
    Gov. Ramon Guico III, in an interview on Tuesday, said the province now has the authority to initiate improvements in seaports.
    “So, we are accepting proposals from proponents if they want to invest through probably joint venture agreement or public and private partnership with the province,” he said.
    This is in line with the goal of Guico to make Pangasinan an industrial hub that is accessible by land, air, and sea.
    An initial meeting for consultation with J.M. Vila Design & Consultancy regarding the project was held on July 12.
    Engr. Juancho Vila, group leader of J.M Vila Design & Consultancy during the meeting, said there is a need to develop the international seaport due to congestion at Manila International Container Terminal.
    He said Sual is worth considering given that it has the Sual Power Plant and with the impending construction of the Pangasinan Link Expressway (PLEX) phase 1 that would cut short travel time from the eastern and western portions of Pangasinan.
    Meanwhile, the PLEX project is a joint with the San Miguel Holdings Corporation, as the winning bidder.
    Guico, in a recent interview, said the province will not spend a single centavo on this project, but the province will be a major partner in terms of ownership and in terms of revenue.
    He said phase one of the PLEX project will cover a 42.76 kilometer (km) stretch from Binalonan town to Lingayen town, the province’s capital.
    The project will cover 6.9 km from Binalonan to Manaoag towns, then 11.30 km from Manaoag to Calasiao towns, and 2.39 km from Calasiao area to Lingayen towns, covering 22.17 km.
    Under the agreement, the province will be entitled to a 5 percent share in the toll revenue and commercial development revenues of the project from the start of the concession period, he said.
    “The provincial government is also entitled to the 30 percent of the earnings before taxes after the proponent has exceeded a project internal rate return (PIRR) of 10 percent,” he added.

 

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Ilocos Norte governor slates China, Hawaii visit to gain investors

By Leilanie Adriano

LAOAG CITY – Ilocos Norte Gov. Matthew Joseph Manotoc on Wednesday bared his plan to visit China and Hawaii in the US this year to discuss investment opportunities with the two major economies.
    Through the visit, Manotoc said he hopes to entice more investors from China and Hawaii, and deepen cooperation and explore trade, tourism and education exchanges with them.
    As Shandong province in China is a sister province of Ilocos Norte, Manotoc said his personal visit will further strengthen the relationships between the two cities as he intends to encourage more Chinese enterprises to invest and seek opportunities in Ilocos Norte, particularly on agriculture, infrastructure, renewable energy and people-to-people exchanges.    
    During his visit to Ilocos Norte last November, Chinese Ambassador to the Philippines Huang Xilian praised Ilocos Norte, the hometown of President Ferdinand R. Marcos Jr., for its "marvelous scenery, intelligent and hard-working people, and rich resources.”
    After China, Manotoc said he also plans to visit Hawaii, the home of many Ilocano immigrants including his family when they went into exile.
    “I want to invite our balikbayans back home. If there are doctors out there, maybe they can work with us in our hospitals and the Provincial Health Office,” Manotoc said.
    In support of the President’s earlier pronouncement to make the Philippines a “top investment destination,” Ilocos Norte is currently offering various fiscal and non-fiscal incentives to investors.
    This includes exemptions from paying real property taxes and incentivizing enterprises that engage in environment-friendly practices as well as those that employ locals. The provincial Investment Office likewise provides pre-investment and investor servicing programs to help new and existing businesses.
    Among the services offered is the provision of relevant market information, site visits to potential investment hubs, and assistance in identifying properties for lease.
    The Marcos administration also seeks to open up more opportunities for high-value investments, with a focus on broad-based job creation and expansion of digital infrastructure, research and development.
    The provincial government earlier set up the province's first incubation center located on the second floor of the Tabacalera Food Park, across the provincial capitol building to assist budding micro, small and medium entrepreneurs to develop and improve their business.
    In partnership with the Department of Trade and Industry, Department of Science and Technology, and state-run Mariano Marcos State University, all interested entrepreneurs who want to improve and promote their products to a wider market are welcome at the incubation center that is equipped with office tables, and computers with internet.
    It also serves as a one-stop shop for business-to-business transactions and establishing linkages. -- PNA

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P17.5-M set to create safe city urban spaces

By Jordan G. Habbiling

BAGUIO CITY -- The city government is set to start a program to capacitate young people to contribute in enhancing the city’s urban landscape to create safe spaces for city folks.
    The City Council approved March 6 the first annual supplemental investment program for 2023 in the amount of P250 million which includes the Safe and Sound Cities Programme for Baguio City. This project will localize the Safe and Sound Cities Programme (S2Cities), an initiative led by a Swiss foundation called Global Infrastructure Foundation (GIB).
    The implementation of the S2Cities program will cost P17.5 million.
    Of the amount, P5 million will be spent for the setting up of the innovation hub.
    Baguio City, along with Naga City and Cuenca and Ambato in Ecuador, has been selected through a rigorous selection process for the implementation of the S2Cities programme.
    The project proposal for the S2Cities Programme for Baguio City was presented by City Planning and Development Coordinator Arch. Donna Tabangin to the city council last March 6. It is a one-year program to be implemented by the City Government of Baguio in partnership with ECLEI - Local Governments for Sustainability.     It is expected to start this March of this year and to end in February 2024.
    According to Tabangin, the S2Cities Programme is committed to creating safer environments with and for young people by addressing urban safety and security issues. 
    She said this will provide the youth a platform to reflect on their urban safety and security experiences and perceptions and will encourage them to collaborate with other urban actors such as youth organizations, the public and private sector, non-government organizations, and the academe to improve urban infrastructure.
    “Young people should have access to adequate public spaces that stimulate positive social interactions and wellbeing. To achieve this, they should have a say in shaping these urban environments and experiences,” Tabangin wrote in the project proposal. 
    Tabangin added that he S2Cities Programme will provide the youth and local government officers capacity building opportunities in terms of decision-making related to urban safety and security
    To realize the vision of S2Cities Programme, the city government will put up a youth safety innovation hub to serve as a space dedicated to nurturing ideas by all urban stakeholders including the youth on how to create safe spaces in the city. 
    The innovation will be located temporarily in the basement of the Baguio Convention and Cultural Center and will be transferred to the Youth Convergence Center which is currently under construction after its completion.
    A network with three university-based incubators will be created for this undertaking. Currently, there are three universities in the city with incubators for research and innovation. These are Saint Louis University, University of the Cordilleras, and University of the Philippines-Baguio.
    The city government will partner with these universities.
 
 

 

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SEC ups drive vs illegal investment schemes

BAGUIO CITY -- The Securities and Exchange Commission (SEC) has intensified its campaign against unauthorized online investment schemes by engaging the local government units in their information, education and communication initiatives.
    The SEC through its extension offices in cities and provinces partnered with LGU information officers through social media in the campaign against fraudulent investment methods mostly done online without SEC license collectively called as “ponzi.”
    On Jan. 25, the SEC revoked the Certificate of Authority of Fast Coin Lending Corp. to operate as a lending company for its continuous non-compliance with SEC Memorandum Circular No. 19, Series of 2019 (SEC MC 19) and its non-operation within 120 days from the grant of its CA.
    In an order dated January 10, the SEC Corporate Governance and Finance Department (CGFD) found that Fast Coin Lending Corp. failed to comply with the Disclosure Requirements on Advertisements of Financing Companies and Lending Companies and Reporting of Online Lending Platforms. The company was also found to have violated the Implementing Rules and Regulations (IRR) of Republic Act No. 9474, otherwise known as the Lending Company Regulation Act of 2007 (LCRA).
    Fast Coin Lending had been operating Cashcow Mobile Application despite failing to submit the required disclosures to the SEC, while also operating two more OLPs, namely Cashguard and Coco Peso, without registering the entities with the Commission, according to the CGFD.

Earlier on January 12, the SEC canceled the corporate registration of Silverlion Livestock Trading Corp. for soliciting investments from the public without the requisite secondary license from the Commission to offer or sell securities to the public.  According to SEC, Silverlion’s activities constituted serious misrepresentation as to what it can do, to the great prejudice of or damage to the general public.

Moreover, SEC advised the public against dealing with the following online investment companies for lack of license: Oriental Peak Mining promising investors a 15-day payout where monies invested, ranging from Php500.00 up to Php1,000,000.00, will double in just 15 days; Lele Gold Farm/Lele Gold Coin/Gold Farm which is a mobile application that can be downloaded in Google Playstore, promising investors luxury earnings of as much as Php2,310.00 up to Php345,600.00 monthly income while playing the said game; Trading Cartel offering investment schemes with promised returns of as much as 5%-10% monthly interest; FDMS Business And Marketing Solutions Inc. through its so-called Affiliate Learning Program, has been found to be offering investment plans with promised earnings ranging from 30% up to 50% per month.

The SEC in its advisories warned that these four investment companies “resemble a pyramid/ponzi scheme.”

In Baguio City, the public is advised to verify the legitimacy of an investment company by contacting the SEC Baguio Extension Office at Telephone: (074) 309 – 5804 and Mobile: 0939-325-3657 / 0997-235-5975. 

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SEC warns public vs investing in company

The Securities and Exchange Commission warned the public in investing in another corporation.
    “Based on reports and information gathered by the Commission, FDMS Business and Marketing Solutions Inc. by Frederick Bahalla Sabater, Marlon Salvador Adriano, Mylene Balayan Cureg, Daniel Dela Cruz Sta. Rita and Ronaldo Dizon Villena have been soliciting investments without the necessary license or authority from the Commission.
    The SEC said FDMS Business and Marketing Solution Inc. under its so-called Affiliate Learning Program, is offering investment plans through its Ride Trade Investment packages, namely: Pre-Subscription, Basic Subscription and Pro-Subscription, respectively, with a minimum investment of P3,000.00 up to a maximum of P1,000,000 with promised earnings ranging from 30% up to 50% per month (P900 up to P500,000) or up to 150%-250% in five months (P400,000 up to P2,500,000).
    Aside from the guaranteed returns. FDMS reported is also offering additional incentives for recruiting members as follows: The aforementioned investment scheme of FDMS clearly involves offering and sale of securities in the form of “investment contract” as defined under Section 3.1 of the Securities Regulation Code. In this regard, the public is made aware that an “investment contract,” which is a form of a security, exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is prominent in the scheme of FDMS.
    The Securities Regulation Code (SRC) requires that said offer and sale of securities must be duly registered with the Commission and that the concerned entity and/or its agents should have the appropriate registration and/or license to sell such securities to the public.
    Records of the Commission showed FDMS was registered with the Commission on March 15, 2021.
    However, such registration reportedly merely grants juridical personality to the corporation but does not authorize it to issue, sell or offer for sale securities to the public nor undertake business activities requiring a secondary license. Further, per records of the Commission, FDMS is not authorized to solicit investments from the public as this entity did not secure prior registration and/or license to solicit investment from the Commission as prescribed under Sections 8 and 12 of the Securities Regulation Code. In fact, FDMS’s primary purpose per its Article of Incorporation is, as follows: In addition, the scheme employed by FDMS has the characteristics of a “Ponzi Scheme” where monies from new investors are used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.
    The SEC said offering and selling of securities in the form of investment contracts using the “Ponzi Scheme” which is fraudulent and unsustainable, is not a registrable security.
    “The Commission will not issue a License to Sell Securities to the Public to persons or entities that are engaged in this business or scheme.
    The SEC said it does not allow the registration of Foreign Exchange (FOREX) in the nature of Commodity/Financial Futures Contract, Contracts for Difference (CFDs) and other similar highly-volatile and risky derivatives nor their merchants/brokers, as the public trading thereof and pertinent rules governing these securities, remain suspended pursuant to Rule 11 of the 2015 Implementing Rules and Regulation (IRR) of the SRC. In other words, since the Commission has not yet registered a commodity futures exchange, it follows that no commodity futures merchant shall likewise be registered and allowed to solicit investments in commodity futures contracts, otherwise known as leveraged foreign currency contracts or margin trading,” the SEC said.
    The Commission also previously issued on 27 July 2018, an advisory regarding “Free training seminars for foreign-registered electronic trading platforms used as fronts of illegal offering and/or selling of unregistered securities with the prospect of learning successful strategies in investing and profiting from the above-stated securities using various electronic investment platforms.
    These electronic platforms are allegedly foreign-registered and are accessible anywhere in the Philippines through the internet. In view thereof, the public is hereby advised to stop in the investment scheme being offered by FDMS and its representatives.
    Those who act as salesmen, brokers, dealers or agents, representatives, promoters, uplines, influencers, endorsers, abetters and enablers of FDMS in soliciting or convincing people to invest in the investment scheme being offered by the said entity including soliciting investments or recruiting investors through the internet may be held criminally liable under Section 28 of the SRC and penalized with a maximum fine of P5,000,000 or imprisonment of 21 years or both pursuant to Section 73 of the SRC (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014). Furthermore, the names of all those involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.

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Investors air interest in Baguio dev’t projects

BAGUIO CITY -- The city government is set to implement its “Growth node development plan” after several institutions submitted their intention to invest in priority projects of Baguio.
    Mayor Benjamin B. Magalong said projects will start this year after he was informed that nine out of 22 investment companies who attended the city’s first Investment Summit held December last year were engaged in parking and mobility  while two companies were into transport system development.
    The city’s growth node aims to expand economic activities in six strategic locations around the city with the objective of decongesting the central business district.
    City managers identified the specified economic activities will focus on transport-oriented development, urban agriculture, arts and crafts, parks, heritage and landmark restoration, ecotourism, and business incubation including the development and operation of the Loakan airport.
    Other investors were interested in venturing into renewable energy; water and energy resource development; architectural consultancy and services, among others.
    The two-day investment summit was conducted by the city government of Baguio led by the City Budget Office Dec. 12 to 13 at the Baguio Convention Center.
    Developmental needs of the city were presented and discussed with investors on parking facilities, low-cost housing projects, cold storage facility for a modern slaughterhouse as well as the city’s smart mobility plan. – JMPS

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Marcos open to 100% foreign ownership of power generation projs

By Ellson Quismorio

Bureaucratic and legislative kinks must be ironed out first before the incoming Marcos administration can allow the 100 percent foreign ownership of power generation ventures in the country.
    President-elect Bongbong Marcos’s statements on Monday, June 20 gave this indication even as he ultimately appeared to be open to the idea of full foreign ownership when it comes to that sector.
    In a press conference at the BBM headquarters, Marcos was asked about his views on foreign ownership in light of what Ambassador of Norway, Bjorn Jahnsen said last week regarding possible development of the Philippines’ promising offshore wind sector.

    “The ownership is one issue but it’s not the main one. And I think if we can take care of all of that first, madali nang pumayag tayo sa 100 percent ownership (agreeing to 100 percent ownership will be easy),” Marcos.
Jahnsen claimed that some 50,000 good-paying jobs could be generated from this sector, but noted that Philippine policies would have to be “adjusted”.
    While the envoy did not specifically mention the need for 100 percent foreign ownership on that venture, he said that “foreign companies should be able to own majority of the equity in these kinds of investments as they often are imvestments with several billions of dollars”.
    But Marcos said, “There are other issues before that, there are other issues before the ownership.”
    “At this point marami nang pumapasok ng joint venture. Ang mahirap sa kasi sa ownership, hindi, kahit na sila ang may-ari, magbubukas, kung sila lang ang magpapatakbo, nahihirapan silang things like ease of doing business, yung power supply (A lot enter as joint ventures. The difficulty with ownership is, even if they are the owners and they run things, they experience difficulties in things like ease of doing business, the power supply), all of these things,” he said.
    “So and even the bidding process, kung minsan (sometimes)…they have these question, yung tinatawag na guarantees (about what you call guarantees).
    “Yung legislative guarantees, yung mga regulatory guarantees. Ibig sabihin hindi magbabago yung batas habang ginawa yung project nila, hindi magbabago yung regulation habang ginagawa pa lamang yung project nila. Yung mga ganyang klaseng bagay, yun ang talagang hinihingi nila (These are the legislative guarantees and the regulatory guarantees. This refers to a guarantee that the laws would remain intact for the duration of their project that regulations won’t change. Those are the things that they ask for),” the 64-year-old former senator explained.
    The Philippines’ Public Service Act (PSA), signed only last March by outgoing President Duterte, allows up to 100 percent foreign ownership of public services in the country.
    However, this relatively new law only covers the distribution and transmission aspects of power such electricity, and not power generation or production.
    Jahnsen described offshore wind as “the best wind resource”.

 

 

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BTR to public: Invest in Retail Treasury Bond

BAGUIO CITY --The Bureau of Treasury, in partnership with the Development Bank of the Philippines and Land Bank of the Philippines, brought their information caravan here last week to invite folks to invest in Retail Treasury Bond Tranche 26.
    The RTB 26, which is negotiable and transferrable, was issued Dec. 2.
    It offers investors a minimum investment of P5, 000 and in multiples of P5,000 thereafter with interest rate of 4.625 percent per annum.
    RTBs are low risk investment instruments issued by the national government through the Bureau of Treasury (BTr) to raise funds for the country’s priority projects nationwide.
    For RTB 26, its proceeds will also finance the government’s expenditures in supporting sectors most affected by Covid-19 and enhancing the country’s response against the pandemic.
    National Treasurer of the Philippines Rosalia De Leon, in a media interview, said more Filipinos including those overseas are now investing in retail treasury bonds as the BTr is continuously bringing in innovation and creativity such as online platforms and applications to reach out to more investors.
    RTBs can now be easily accessed by overseas Filipinos in over 50 countries, she said.
    De Leon said for RTB 26, Filipino investors not only can do their share in nation-building but can also help in recovery efforts of that national government against Covid-19.
    “Sa Retail Treasury Bond na ito is also one way na nakikita natin for small investors like you and me na makatulong sa ating recovery efforts. Just like in any RTB issuance where we can contribute our share in nation building, we are also contributing our share to the recovery efforts of the national government,” De Leon said.

For those interested to purchase RTB 26, they can do it through DBP and LBP branches or online through the www.treasury.gov.ph where one can find and go (click) the RTB 26 banner and read through the details of the investment.

There are also the Bonds.PH Mobile Application, OFB Mobile Banking Application (“OFB MBA”) or LBP Mobile Banking Application. Investors can also buy RTBs from secondary market at prevailing market price via banks or brokers.

De Leon led the RTB 26 Baguio caravan and had meetings with officials and representatives of cooperatives, local government units, University of the Philippines – Baguio and Camp John Hay Corp. retirees association. – PIA Cordillera

 

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SEC stops Crowdi Asia ‘illegal investment scheme’

By Mar T. Supnad

The Securities and Exchange Commission (SEC) has ordered CROWD1 Asia Pacific, Inc. to immediately stop soliciting and accepting investments from the public under a scheme disguised as a digital marketing business.

In an order issued May 12, the Commission directed CROWD1 to cease and desist, under pain of contempt, from engaging in activities of selling or offering for sale securities in the form of investment contracts or other similar schemes without prior registration and permit to sell.

The SEC also ordered CROWD1 to cease from promoting its investment scheme in social media and other online platforms.

The Commission prohibited CROWD1 from transacting any business involving funds in its depository banks, and from transferring, disposing, or conveying in any manner all related assets for the benefit of the investors, SEC said in a statement sent to this writer.

The cease and desist order covers the corporation’s operators, partners, directors, officers, salespersons, agents, representatives, promoters, and all persons, conduit entities and subsidiaries claiming and acting for and on its behalf.

The SEC issued the cease and desist order after finding that CROWD1 has operated “a fraudulent investment scheme consisting of the sale and/or offer of inexistent securities in the form of investment contracts to the public.”

CROWD1 solicits and accepts investments from the public by offering what it describes as educational packages for a minimum of P6,000 and as much as P240,000.

To entice the public to invest, CROWD1 promises member-investors five different bonuses: streamline bonus, binary pairing bonus, fear of loss bonus, matching bonus, and residual bonus from games and gambling apps.

CROWD1 likewise touts a pairing incentive payable in euros to encourage member- investors to recruit new members.

Representing itself as a digital marketing business, CROWD1 claims it generates income from online games and facilitates the generation by its members of residual income from its affiliate gaming companies such as AFFIGLO and MIGGSTER.

The SEC, however, ruled that CROWD1’s scheme involved the sale and/or offer of securities in the form of investment contracts and, thus, required a secondary license under Republic Act No. 8799, or The Securities Regulation Code (SRC).

Rule 26.3.5 of the 2015 Implementing Rules and Regulations (IRR) of the SRC defines an investment contract as “a contract, transaction or scheme whereby a person invests his money in a common enterprise and is led to expect profits primarily through the efforts of others.”

An investment contract is presumed to exist when a person seeks to use the money or property of other persons on the promise of profits. Also, a common enterprise is deemed created when two or more investors pool their resources even if the promoter receives nothing more than a broker’s commission.

In this light, the SEC held that CROWD1 engaged in the sale and/or offer for sale of securities in the form of investment contracts.

The Commission also ruled that the act of CROWD1 of publishing and making presentations on its investment/ business scheme through its website, Facebook, YouTube and on-ground events, and inviting investors constituted a public offering as defined under Rule 3.1.17 of the 2015 IRR of the SRC.

Section 8 of the SRC provides that securities shall not be sold or offered for sale or distribution within the Philippines, without a registration statement duly filed with and approved by the SEC.

CROWD1 neither secured a secondary license to operate as a broker/dealer, registered as issuer of mutual funds, exchange-traded funds or proprietary/ nonproprietary shares, nor registered any securities pursuant to the SRC.

CROWD1 only registered as a corporation for the primary purpose of engaging in business process outsourcing services.

The SEC, however, emphasized that the certificate of incorporation granted to CROWD1 explicitly prohibited the corporation from soliciting, accepting or taking investments or placements from the public as well as from issuing investment contracts.

The Commission urged the public to exercise caution in dealing with individuals and groups representing CROWD1 through an advisory dated April 28, after gathering information about the corporation’s unauthorized investment- solicitation activities.

Acting on numerous complaints, reports and inquiries, the SEC Enforcement and Investor Protection Department (EIPD) conducted an investigation, which included surveillance and field operations, for possible violations of the SRC and its IRR.

The EIPD was then able to establish by substantial evidence that CROWD1 was selling and/or offering securities to the public in the form of investment contracts without the required secondary license from the Commission.

Based on the findings and evidence gathered, the SEC proceeded with the issuance of a cease and desist order against CROWD1.

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Public urged to invest in 'Premyo' bonds

BAGUIO CITY -- The government is encouraging ordinary Filipinos to learn how to save money while increasing their chance of winning cash prizes and a house.

               National Treasurer Rosalia de Leon said the bond sale, dubbed "Invest Pa More, Panalo Pa More Premyo Bonds Para Sa Bayan", aims to pull in small savers and share in nation building as the “Premyo” bond also seeks to raise funds for the implementation of the Universal Health Care (UHC) and the free tertiary education in state universities and colleges.

            “This is intended to make more people go into the habit of investing in government securities and win prizes,” de Leon said in a press conference here on Tuesday.

            With a minimum investment of PHP500 to PHP10 million per individual bond bought through partner banks BDO, ChinaBank, Metrobank, Development Bank of the Philippines (DBP) and LandBank, the investor would receive four assured benefits, de Leon said.

             Among the benefits of the bond sale include earning an interest of three percent per year for every PHP500. This is higher than the 1 percent interest for time deposits; a chance to win cash reward or non-cash rewards; a protected investment with a sure return of the capital after one year.

            For every PHP500 investment, the investor is entitled to one e-raffle ticket which will be drawn every quarter, each having a chance to win four times during the bond period.

             “Kapag nag-invest kayo ng PHP1,000, two tickets po 'yan (if you invest PHP1,000, you have two tickets) and you have a chance to win four times, that is every quarter,” said Gonzalo Benjamin Bongolan, first vice president and head of investment banking of Landbank of the Philippines.

            Every quarter, there will be 50 winners of PHP20,000; 10 winners of PHP100,000 and one winner of PHP1 million.

A house and lot and condo units will also be up for grabs.

            Aside from the funds raised from the imposition of taxes coming from “vice products” such as the sin tax and tax on sweetened beverages and other sources, the “premyo” bond would only be for one year but it would assure support to the UHC and free tertiary education, de Leon said.

           Buying of bonds or the investment period started on November 25 until Dec. 13, 2019 or until the government raises the PHP3-billion target.

           The investor needs only to open or have an existing savings account with any of the five banks. They can buy the coupon personally from the bank or through online registration.

            The investor will get an email confirmation of the purchase as proof of the investment.

After one year or upon maturity on Dec. 18, 2020, the capital invested will automatically be returned by the government to the specific bank account used in buying the bond, including the interest.

              “It is a risk-free investment,” de Leon said, as she explained that it is secured by the government. She said proof that it would be a good investment is the improved credit rating of the government and the country's improved tax collection. (PNA) 

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Planners paint rosy, bullish investments in Cordillera

BAGUIO CITY -- Economic planners in Cordillera paint a rosy picture for investments that would be placed in the region's economic zones.

Baguio Mayor Mauricio Domogan, Cordillera Regional Development Council (RDC) chairman, said there are several nature-based investments that investors can look into in the highland region's abundant natural resources.

National Economic Development Authority (NEDA) regional director and RDC co-chair Milagros Rimando said agriculture and organic farming, such as coffee-growing, the region's One-Town, One-Product bet, are potentially rich sources of profits for investors and economic benefits for the locals, too.

“We have a lot to offer in the Cordillera (aside from) tourism development. Kailangan pa natin ng mga economic zones," Domogan said, adding investments will bring employment to the residents and economic growth to the localities.

He said hydro and solar power generation, as well as setting up economic zones, are promising investment areas that Cordillera can offer.

The entry of more big investors and a higher economic activity, he added, will even result in the locals getting into small businesses, themselves, like putting up department stores and groceries, to cater to a growing market.

He said hydro and solar power plants will also add to the energy supply not only in the host locality, but also in Luzon or even the whole country.

Domogan said economic zones are ideal in Cordillera, considering the big land areas available in the provinces, such as in Tabuk City, Kalinga.

Meanwhile, Rimando said Baguio has been identified by the government as a preferred area in the national investment plan for electronics and aerospace.

She said this sector is among the top contributors to the region's gross domestic product.

Baguio is host to Texas Instruments Philippines, an American company engaged in the production of microchips, and the Moog Controls that produces airplane parts.

There was also a time, when Baguio was included in the top 100 favorite destinations for Business Process Outsourcing (BPO) worldwide, together with 10 other cities in the country.

Rimando added Baguio's creative industry, which has been inspiring the whole region's interest in arts and crafts, particularly natural die-making for weaving, is also a potentially rich investment area.

She said the region is updating its investment priorities plan to include new possibilities and opportunities.

To be matched with the Philippine Development Plan (PDP), Cordillera's regional development plan "will consolidate the provincial investment priorities in the six provinces and two cities in the region," Rimando said.

Meanwhile, Rimando has expressed hope the Loakan Airport in Baguio will be revived soon, under the Duterte administration.

She said Cordillera has long been clamoring for the development and reopening of the airport, explaining this allows easier access to Cordillera and transportation of people and goods, especially those manufactured at the Philippine Economic Zone Authority(PEZA) in the region.

“I have been in the Cordillera since 2012 and for several years, we asked for the CAAP (Civil Aviation Authority of the Philippines) to conduct an aeronautical survey, which was never done,” Rimando said.

But in June 2018, under the Duterte administration, the CAAP eventually stayed for a week in Loakan to do an aeronautical survey.

The result of this, Rimando said, will be a tool for the establishment of flights.

“We are waiting for the obstacle plan of the CAAP from the survey they conducted,” she said.

Representatives of PAL Express also visited the airport and noted that the issues surrounding the airport are not critical.

Among the issues, authorities point as obstructions to flights at the airport are the buildings, mountains, and trees, as well as the residents who cross the runway to reach their houses.

Rimando said a private travel and tours agency based in Clark had expressed interest in transporting tourists from Clark to Baguio and in doing an aerial tour of the city and the rest of Cordillera. -- PNA

No. 3, 1 col

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Batac City HPG files raps against P54-M investment scam suspect

By Freddie Lazaro

LAOAG CITY, Ilocos Norte — A unit of the Ilocos Norte Highway Patrol Group (HPG) has filed a complaint against the suspected operator of an alleged investment scam in Regions 1, 2, 3, and the Cordillera Administrative Region (CAR).

Chief Insp. Rufino Noog, the chief of the Ilocos Norte HPG, confirmed the filing of complaints before the Prosecutor’s Office against one Roy Gonong, who allegedly heads the Kabulinawan Producers Cooperative and Kabulinawan Lending Corporation based in Batac City.

Two of Gonong’s alleged cohorts were also named in the complaint after the HPG recovered from them five vehicles that are allegedly the subject of a carnapping case tied to a P54-million investment scam, said Noog.

The city HPG chief said the suspect had allegedly taken more or less P54 million from their victims, who were mostly professionals, police, government employees, and businessmen.

The modus operandi of the suspect, Noog said, is to convince their victims to invest a huge amount of money with 5 percent interest every month given by a supposed investor.

Once the deal is done, the suspect will provide the victim with a car – the payment for which is arranged with his lending corporation.

However, the lending corporation will ignore the payments, thus forfeiting the sale of the vehicle and leaving the victim in debt, said Noog.

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Jap firm expands Clark investment

By Ding Cervantes 

CLARK FREEPORT, Pampanga – A leading Japanese semiconductor firm is spending P731 million to expand its manufacturing plant here.

Nanox Philippines Inc.’s expansion is expected to generate additional 1,000 jobs in the next five years.

Nanox is engaged in the assembly, production and trading of liquid crystal display (LCD) panels, chip on glass modules and fiber optic lenses.

The company is capable of producing four million LCD devices monthly.

It is the second top exporter among Clark investors.

Nanox’s export comprised 25 percent of the total annual export from this freeport.

It is located within the complex of the Clark Premiere Industrial Park.

Nanox signed a land lease agreement with the state-owned Clark Development Corp. for the 20-hectare expansion.

Katsushige Nakai, Nanox president and chief executive officer, said he was happy to do business and create more jobs at the freeport.

The company has 4,500 workers, mostly residents of Clark.

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Five ways to make money fast and easy

BEHIND THE SCENES

Alfred P. Dizon

(Here is an article by Jack Reynolds forwarded to our email. I would like to share this as a welcome respite from our weekly tirades.)

This is where the rubber meets the road. Traction is something we all lack when we are doing research and ultimate field tests in the quest for our first million. More traction would be great, whatever step in the ladder you are at. So let’s give you a little traction before you seize your jets. The following five strategies will give you the moves to take you to the first level. -A guy/gal with a proven idea that can be replicated - (An enviable position to be in)

1) Let's get this straight. Million dollar bank balances are numerical in nature. By that I mean a million bucks is not made up of 1 large million dollar bill. It’s made up of exactly one million single's. Or to go to the lowest common denominator, its actually numerically made up of One thousand, million (or 1 billion) cents.

Make money fast and easy by thinking of money as numerical and therefore exponential. A dollar that you hold in your hand is the same as $1 million dollars. No difference at all. It’s a seed that grows into a tree, then that tree spurs more seeds. (I apologize for the metaphor, but how else can we put this so you understand the nature of the reality as it is)

2) When you approach your 1 million dollar goal, you are biting off much more then you can chew thinking about that million.

To make money fast and easy, always think small. Refine, refine, refine. Then duplicate, duplicate, duplicate. Are you with me? Is this making sense? Make a simple little mouse trap, then make lots of mouse traps exactly the same way.

3) Find demand and supply into that demand. To make money fast and easy, even before you think about "what" you will do, you are going to research demand. You will become an expert at sniffing out needs. This skill is a millionaires bow and arrow. Let me tell you, most millionaires couldn't hit the side of a barn much less the bulls eye. But they DO know this. So their aim is not important. What is important is that the target is nice and gigantic. How can they miss?

Trust me, it’s what millionaires do, it’s how millionaires think. Always supply into fat juicy demand where the picking is easy. Do you want medals of bravery or a million bucks asap?

4) Have a structure you never deviate from.

They always failed to plan when they planned to fail. Once your research is done never deviate from it. Give it a good run but if it doesn't work out for you then move on without shedding a single tear. Chance and "chaos theory" are fascinating things. Probability is what millionaires deal with. They never delude themselves into believing in absolutes.

To make money fast and easy, you will not work backwards or second guess yourself. Plant yourself firmly in the middle of the road on the high side and go forward. Don't make it up as you go. Stick to what your demand planning told you to do. Many give up after 1 failure, but probability is a funny thing. We think we can control it, but even when all your ducks are lined up in a row, it may not work. But give it a chance and let it prove itself and you may find over a number of attempts you will get the results you expected.

5) Diversify and go deep.

They call out diversify when it comes to investing. Fair enough. Things change and relying on just one source for your income stream is dangerous. And it is. But there are two sides to every coin.

The pareto principle states that reality and probability are stacked unevenly. We as rational human beings think of everything as equal and even. However scientific evidence and business experience tells a different story. The pareto principle is also known as the 80/20 rule. It states that 80% of your results comes from 20% of your activities. Is this significant if true? You bet. It means that of every effort you make, of all the many things you do to manufacture your results, only 20% actually is responsible for a large proportion (in fact 80%) of them.

So what does this mean in English? It means you can easily quadruple your results by finding out what that special 20% activity is and stop doing everything else. By focusing on just that 20% activity you will not only increase results, but you will create a new Pareto principle refined of the old one at a higher level. In this way you move forward and evolve your activities to higher and higher levels.

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