Converge boosts MSMEs, start-ups in capital-raising

SEC roadshow 

By Rizza C. Ampong

BAGUIO CITY -- Converge ICT Solutions Inc., the fastest growing broadband operator in the Philippines, joined hands with the Securities and Exchange Commission (SEC) in encouraging small-scale businesses and start-ups to access the capital market to address their financing needs. 
    In the Baguio leg of the SEC’s roadshow on capital formation for micro, small, and medium enterprises (MSMEs) and start-ups, the SEC encouraged business owners to secure funding through capital market-based services such as public offering, crowdfunding, and private placements, among others.
    Converge Vice President and Head of Investor Relations Owen Kieffer Ocampo inspired local entrepreneurs by sharing how Converge accelerated business growth by offering shares to the public, highlighting the boosts gained by the company when it braved the pandemic crisis and had its initial public offering (IPO) in October 2020.
     “A lot of work goes into conducting the IPO but the long-term benefits definitely compensate for it. First, you will have access to lower cost of capital, and you will have the capability to accelerate growth with the funding generated in your IPO,” he said. 
    Converge raised P25.3 billion ($523 million) in one of the country's largest recent IPOs at that time. Leveraging these funds, together with its other sources of capital, Converge was able to expand its infrastructure from around 3.5 million ports in 2020 to 8.7 million ports nationwide – currently the most extensive in the country. More significantly, Converge earned the name of being a nationwide company - extending its fiber backbone from Luzon to major islands in Visayas and Mindanao - through the major capital infusion provided by the IPO. 
     “In just two years from the IPO, we were able to expand our network nationwide to serve underserved and unserved areas in VisMin. We have also doubled our port count and we are now focused on utilizing these assets to serve the unserved and underserved,” Ocampo added. 
    Aside from connecting households, Converge has also been uplifting the MSME sector as part of its vision to empower the nation to be its best. Through Converge Business, the company enables small businesses through innovative connectivity products such as flexiBIZ; it empowers medium and large enterprises with value-added services such as Converge Workplace solutions like SweldoMo, and the Hotel Management software. For all sizes of businesses, Converge also offers device solutions, for better business productivity.
    Meanwhile, SEC Market and Securities Regulation Director Vicente Graciano Felizmenio Jr. said there is an estimated $220 billion credit gap for MSMEs in the country, based on a report from the Asian Development Bank (ADB) and International Finance Corporation (IFC).
    This was despite their substantial contributions to the economy, making up 99.5 % of local businesses, and accounting for 63% of the local workforce and 40% of the country's gross domestic product (GDP). 
     “We want to show MSMEs and start-ups that there are other sources of financing that they could tap and it is the capital market. We want them to grow as a business so we present to them the options and they make the decision,” he said. 
    Through the Office for the Advancement of Strategic Investments in SMEs (OASIS), the regulatory commission promotes alternative financing options for small-scale enterprises and start-ups, helping them secure financing through the capital market. 
 

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Rules on assistance to folks in crisis pushed

By Jordan G. Habbiling

BAGUIO CITY -- Councilor Elmer Datuin has filed before the City Council a proposed ordinance providing revised guidelines for implementation of “Assistance to individuals in crisis situations (AICS) in the City of Baguio.     The proposed ordinance, if approved, would amend in its entirety ordinance 16-2019 (Providing guidelines for the implementation of assistance to individuals in crisis situations in the City of Baguio).
    AICS is “the provision of integrated services to individuals and families in crisis situations through the CSWDO Psychological Intervention Unit (PIU).”
    Services under AICS are financial and material assistance (transportation assistance, financial assistance, burial assistance, educational assistance, food assistance, and cash assistance for other support services); psychological intervention; and referral for other services.
    In his proposed ordinance, Datuin explained there was need to modify the said guidelines to align it with updated program lineups in relation to AICS and in compliance with Republic Act No. 11032 otherwise known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
    Under Section 5 of the Act, all offices and agencies providing government services are mandated to regularly conduct cost compliance analysis, time and motion studies, to undergo evaluation and improvement of their transaction systems and procedures, and to reengineer the same (transaction systems and procedures) if deemed necessary to reduce ‘bureaucratic red tape’ and processing time.
    The said section mandates all government agencies, offices, and local government units to undergo regulatory impact assessment to determine if a certain proposed regulation does not cause undue regulatory burden and cost to these agencies/offices/LGUs and the applicants.
    As a general policy under the proposed revised guidelines, the provision of financial and material assistance to clients shall be based on the assessment and recommendation of the CSWDO workers duly approved by authorized officials. The eligibility of clients to receive the needed service/s shall be established through interviews, home visits, and submission of necessary documents.
    Maximum amount to be provided to clients shall be based on guidelines which shall be reviewed periodically.
    Partnerships with stakeholders such as hospitals, drugstores and pharmacies, transport companies, funeral parlors, and other service providers shall be established by the city government to ensure that referred clients are able to receive the needed services immediately.
    Contracts or memoranda of agreement may be entered into by the city government with qualified service providers.
    The proposed revised guidelines also indicated that the implementation of AICS must not be delegated and/or transferred to any accredited civil service organizations and that AICS must be directly implemented by the CSWDO.
    A screening process shall be conducted by the designated CSWDO staff to ensure the completeness and correctness of the requirements of the clients. After which, an interview shall take place, and the requirements shall be assessed to determine the eligibility of the client in availing of the services. 
    Under the proposed revised guidelines, the cost of assistance under AICS ranges between P1,000.00 to     P10,000.00 except for transportation assistance (land travel, sea travel, and air travel) whose actual cost is based on ticket quotation.
    For assistance of P10,000 and below, the client shall claim it from the designated disbursing officer within the day depending on the availability of funds. Outright cash may be provided to clients who will be traveling through several modes of transport to defray the costs. Food assistance may also be given.
    Payouts conducted by the Psychological Intervention Unit shall be released within seven days.
    According to the proposed revised guidelines, assistance through the issuance of a guarantee letter (GL) shall be addressed to the service providers. The GL shall be considered an urgent document and shall be prioritized for signing by concerned approving officers to be released within the day. The release of the assistance worth up to P10,000 through a GL shall be released within three days depending on the availability of funds.
    The financial assistance shall be approved by the CSWD-Officer.
    As for the referral services, the PIU social worker issues a referral letter to stakeholders in favor of a client who needs assistance and other parochial/local services. Furthermore the client must also be referred to other concerned agencies if the programs or resources of the CSWDO could not meet the client’s needs.
    The CSWDO shall establish partnerships through a MOA with service providers to reduce the amount of cash advance to be bonded for the delivery of assistance to clients.
 Cash releases through off-site shall also be considered. Off-sites shall be determined by the CSWDO in coordination with the City Treasury Office. Off-site cash release shall be made only during office days and office hours.
    The proposed ordinance has been approved on first reading by the Baguio City Council and referred to the city council’s Committee on Social Services, Women, and Urban Poor for review.

 

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Olowan pushes increase of studes’ college fund aid

By Jordan G. Habbiling

BAGUIO CITY -- Vice Mayor Faustino Olowan has proposed increase of financial assistance granted to qualified college students as provided for in Ordinance 116-2019.
    In his proposed amendatory ordinance, the college education financial grant provided by the city government shall be raised from P6,000 every semester per school year to P10,000.
    The said increase, according to Olowan, is necessary to help students and their families cope with the increasing cost of living and education expenses.
    With the proposed raise of the said financial grant, the amount of 20 million shall be earmarked in the city’s annual budget to adequately fund the existing College Education Financial Assistance Grant Program.
Moreover, under the proposed amendatory ordinance, the Sanggunian’s Committee on Education, Culture, and         Historical Research is tasked to refine the existing implementing guidelines to make the program more accessible and inclusive, subject to the approval of the members of the Baguio City Council and the city mayor.
    Ordinance 116-2019 or the ordinance creating the city government’s College Education Financial Assistance Grant Program was authored by Olowan himself.
    The financial assistance is granted to “poor and underprivileged but deserving college students” who are enrolled and excel academically in universities or colleges in the city. 
    Applications for the said grant are submitted to and screened by the Baguio City Scholarship Council composed of the city mayor as the chairperson, the vice mayor as the vice-chairperson, and all council members, the city budget officer, and the city social welfare and development officer as members.
    The proposed amendatory ordinance has been referred to the Sanggunian’s Committee on Appropriations and Finance Cluster A (Budget, Appropriations, and Expenditures) for review.
    Based on the record of the City Social Welfare and Development Office (CSWDO), as of this writing, 1,234 students in the city are registered with the program. Of the number, 870 are active beneficiaries and are regularly receiving their grants. Among the 364 inactive beneficiaries, some of them have dropped out or have had failing grades, and the rest have yet to receive their grants after complying with all the requirements.
 
 

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DoLE gives P100-M to Mt. Province workers

BONTOC, Mountain Province – The Dept. of Labor and Employment distributed over P100 million in assistance to more than 5,000 vulnerable workers from various municipalities of Mountain Province under the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (Tupad) program. 

Labor Secretary Silvestre Bello 3rd led DoLE officials from the national and regional offices in giving out aid under DoLE's flagship Tupad program, which provides emergency employment to informal sector workers, affected by calamities or disasters.
Bello said Paracelis, which has 4,857 beneficiaries, received P54,998,500; Natonin, which has 318 beneficiaries, P1,800,198; and Barlic, 258 beneficiaries, P1,460,538.
    Meanwhile, Bontoc was given P492,507 for its 87 beneficiaries, and Tadian received P549,300 for its 97 beneficiaries.
In Sabangan, Bello said his office recorded a payout of P46,709,991 for 4,281 beneficiaries.
    Paracelis Mayor Marcos Ayangwa thanked the Labor secretary for the assistance extended to his constituents as he said more than 4,000 workers in Paracelis were displaced by Typhoon "Rosita" (international name: "Yutu," which slammed the northern part of Luzon on October 2018.

He said Paracelis was still reeling from the devastation when the Covid-19 pandemic affected businesses in the municipality.

 

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Sagada: Why only 250 folks given cash?

By Gina Dizon

SAGADA, Mountain Province -- Despite having a number of corn farmers here, Sagada netizens asked how and why only 250 corn tillers from this town benefitted from the cash and food subsidy for marginal farmers and fishers program (CFSMFFP) of the Dept. of Agriculture.
    In distribution activity two weeks ago by the office of the municipal agriculturist (OMAG), 250 corn farmers were each given P2,000 worth of a half cavan of rice, two frozen dressed chicken and two trays of eggs and P3,000 cash for a total of P5,000 CFSMFFP aid.
    The P3,000 cash is received by the beneficiary through a voucher that he signs.
    Netizens urged the DA to provide the same assistance to all corn farmers asking why some beneficiaries were given food and cash subsidy despite having availed of other social amelioration programs.
    Netizen Mylene Simeon Demot-Galgala said, “all should be given so no one complains.”
    An eligibility criterion of the CFSMFFP requires a farmer is not a beneficiary of any other amelioration program from any government agency aside from being a registered farmer with the DA in a fourth to sixth class municipality or 5th to 6th class city.
    Netizens also asked why only 250 farmers were given assistance when most in town plant corn.
    A list of 2,075 corn farmers was forwarded by the office of the municipal agriculturist to the regional DA office.
    Some 4,000 farmers here registered under the RSBSA (registry system for basic sectors in agriculture) of the DA.
 Corn is a traditional crop planted by most farmers here in this town during the rainy season.

Asked how the 250 corn farmers were selected, Carmen Pomeg-as, municipal agriculturist said the DA central office identified the beneficiaries from the RSBSA forms the farmer submitted.

 The 250 corn farmer beneficiaries were from six out of 19 barangays of this town -- southern barangays of Balugan, Ankileng, Ambasing; northern barangays of Bangaan Aguid and eastern Antadao.

Balugan got the highest of 100 farmer-beneficiaries followed by nearby Ankileng of 77 claimants.

DA chief of Regional Agriculture and Fisheries information section Aida Pagtan said beneficiaries were verified by the OMAG from the RSBSA list the regional office forwarded and OMAG having submitted back the verified list of corn farmer beneficiaries to the DA regional office.

 The verified list delisted 71 corn farmer beneficiaries who availed of the same cash and food assistance given early this year, municipal agricultural staff Scarlett Buteng said.

Earlier, 100 farmers among them 71 corn farmers and fisher folks and indigenous peoples (IP) beneficiaries received the same P3,000 cash and food subsidy worth P2,000 March this year.

The OMAG is not familiar with the criteria of the CFFMFFP that to qualify as a beneficiary should not have availed of other amelioration subsidy, Buteng added.

As a criterion, the CFSMFFP beneficiary shouldn’t have availed of any social amelioration aid from any government office including the Covid-19 adjustment measures program (CAMP) or the tulong panghanapbuhay sa ating disadvantaged/displaced workers (TUPAD) from the Dept. of labor and employment (DOLE) or social amelioration program (SAP) from the Dept. of Social Welfare and Development. 

Thus the doubling of CFSMFFP assistance to a beneficiary even if he/she received SAP, CAMP or TUPAD aid earlier.

Sagada netizens also asked what ‘marginal’ farmer means, saying one beneficiary was a full time vendor and another is a senior citizen on pension.

The CFSFFP defines a marginal corn farmer as one who tills landholding one hectare and below.

Eva Acosta, officer in charge of the corn program of the Office of the Provincial Agriculturist (OPAG) said 1,373 corn farmers of the province availed of the CFSMFFP subsidy with the corn producing town of Paracelis having received the highest with 564 beneficiaries followed by 328 corn farmers from Sagada.

 Submitted number of corn farmers from municipalities and the low number of beneficiaries indicate the limited number of beneficiaries per municipality.   

There are 28,515 corn farmers of the province in a list submitted by municipal agricultural offices to the DA region with the highest from the corn producing town of Paracelis with 11,374 corn farmers followed by Bauko with 2,376 and Sabangan with 2,250 corn farmers, OPAG records reveal.

The DA received P24 billion funding under the Bayanihan to Recover as One 2 to provide direct cash assistance or low-interest rate subsidies to qualified agri-fishery enterprises, farmers and fisher folks registered under the RSBSA.

Of the P24 billion fund, a 6.5 billion stimulus package was allotted for agriculture poured into the agency’s social amelioration projects for marginal farmers where P4.5 billion was allocated for CFSMFFP.  

 

 

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Hedcor sets P17 million projects in host towns

HEDCOR turns over P7,300 worth of financial assistance to each Senior High School scholars in Bakun, Benguet for school year 2020-2021.

By Estefany Mae Tawagon

AboitizPower’s Cleanergy unit Hedcor is allocating 17 million to its corporate social responsibility activities (CSR) for 2021.
In the previous year, Hedcor re-allocate its funds for Covid-19-related needs such as personal protective equipment and relief goods to those affected by lockdowns.
    A year into this pandemic, Hedcor now resumes implementation of CSR projects previously put on hold. 
    “The CSR project lineup for 2021 prioritizes those related to education, enterprise development, environment and other projects.
    “In this ongoing pandemic, community recovery can be best fueled through these aforementioned fields,” said Rene Villarente, Hedcor’s external relations manager.
    In line with this goal, Hedcor is supporting support new learning methodologies such as reproduction of modules for its host schools.
    The group is also looking into equipping barangay health centers with medical equipment and the construction of local isolation facilities. 
    To boost livelihood, Hedcor will also be carrying out skills training and give starter kits to its partner cooperatives.
In Luzon, Hedcor also awarded financial assistance to 13 senior high students of schools in Benguet and Mountain Province.
    Hedcor recently awarded financial assistance for 22 of its senior high school scholars from Santa Cruz, Davao del Sur in Mindanao.
    “This is to ensure continued support for the qualified scholars of its host communities,” said a Hedcor press statement.
    Hedcor is currently supporting 59 senior high school students from Benguet, Mt. Province, Bukidnon, and Davao through financial assistance.
    Hedcor gives a total of P430,000 annually to support its scholars as they complete their high school education.
    Hedcor is a wholly-owned subsidiary of AboitizPower. Among these, Hedcor specializes in generating renewable energy from run-of-river hydropower systems.
    Today, Hedcor manages and operates 22 hydropower plants located in Ilocos Sur, Mt. Province, Benguet, Davao, and Bukidnon. They continue to supply the country with 278 MW of clean and renewable energy.
    With 42 years of experience, Hedcor is one of the leading run-of-river hydropower operators in the Philippines.

HEDCOR turns over P7,300 worth of financial assistance to each Senior High School scholars of Federico Yap National High School

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Baguio council probes fund grants to athletes

By Jordan G. Habbiling

BAGUIOCITY -- The Baguio City Council summoned representatives of the City Sports and Development Office and the City Accounting Office to shed light on qualifications of athletes in the city for the grant of cash incentives after some athletes were reportedly not given incentives. 
    This, after the office of Councilor Levy Lloyd Orcales, chairperson of Sanggunian’s committee on youth welfare and sports development, received complaints from athletes allegedly denied cash incentives granted by the City Government of Baguio after winning in sports events during the 2019 South East Asian Games held in the country.
    Sports officer Gaudencio Gonzales and Accountant III Pedro Sawac Jr. said there were 31 athletes residing in the city who won awards during the 2019 SEA Games.
    All of them received cash incentives from the national government.
    Of the number, 28 athletes were proven to be home-grown Baguio athletes, thus were given their incentives.
    Three athletes, however, had their incentives withheld due to lack of documents to prove they were Baguio-based athletes.
    Gonzales and Sawac said these three athletes were not disqualified from the grant.
    They said the three athletes were required to produce a document that will establish they were Baguio-based athletes.
    Based on ordinance 20-2016 (Adapting the new sports incentives ordinance of the City of Baguio), athletes should be accredited for them to claim incentives.
    The athlete must submit proof of membership in a sports organization/school/club/discipline/association, or a barangay certification as proof of residency, or a photocopy of the athlete’s school ID.
    The council said only one of the documents would suffice for the athlete’s accreditation and entitlement to the incentive.
    Ordinance 20-2016 defines a Baguio-based athlete as an individual who, by himself or as a member of a team, is allowed to participate in any individual or team sports competition in representation of the city by reason of his enrolment in a school in the city, membership in an accredited sports club, organization, or discipline that is located and operating within the city, official function or simply his residency in the city.
    It was stipulated a Baguio-based athlete is qualified and is allowed to represent the city in individual or team sports events in a regional, national, or international sports competition.
    City Accountant Antonio Tabin said athletes winning in international competitions such as the SEA Games are representing the entire country and not necessarily their localities.
    Councilor Micheal Lawana, however, refuted Tabin’s claim stating any Baguio-based athlete, whether the sports event he participated in was local or international, is entitled to receive the sports cash incentive granted by the local government.
    Further scrutiny revealed that, as per ordinance 20-2016, national athletes who were Baguio-based and professional athletes who were likewise Baguio-based, as well as their coaches, may be granted special cash incentives in addition to national cash incentives or cash prizes granted or earned in their events.
    Councilor Benny Bomogao urged the Sanggunian to study ordinance 20-2016 and look into its possible amendment to clarify whether or not the city should grant incentives to Baguio-based athletes representing the country.

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Educational financial application still open

By Julie G. Fianza

BAGUIO CITY -- Application for the College Education Financial Assistance Grant is ongoing, both for the second batch beneficiaries for the first semester 2020-2021 and the upcoming second semester.
    This is after the distribution of cash benefits for the first batch of 314 grantees at the Baguio Convention Center yesterday, 13 January 2021.
    This year’s targeted 800 beneficiaries has a shortfall of nearly 500, according to Councilor Vladimir Cayabas who chairs the Committee on Education, thus he call for applicants for the second batch.
    Applicants should have been enrolled during the first semester, has accomplished and submitted the requirements, and be present during the orientation on Jan 21, the councilor said.
    Meanwhile, for the second semester, student-applicants need to submit at the City Social Welfare and Development Office (CSWDO), Upper Session Road, the following requirements:
1. A brief application letter to Mayor Benjamin Magalong citing the intention to avail of the grant; duly accomplished application form with the latest 1.5 x 1.5 or 2.0 x 2.0 ID picture (at the upper right most side of the form);
2. Enrollment certificate (with the school’s official dry seal);
3.Assessment of school fees (with official dry seal);
4.Certificate of good moral character from the latest school attended;
5.Certificate of barangay residence for a minimum of two years;
6.Income tax return of parents or certificate of tax exemption to be secured at the Bureau of Internal Revenue (BIR);
7.Voter’s ID or certificate of voter’s registration, or parent/s’ voter’s registration if minor;
8.Barangay endorsement; and,
9.Philippine Statistics Authority (PSA) birth certificate.
    For those enrolled or intending to enroll in the undergraduate level, non-degree or technical vocational schools; a certified true copy of grades for the latest semester attended (with the school’s official dry seal) is needed;
    For fresh secondary/high school graduates, a certified true copy of Form 138 or high school report card; and,
    For Alternative Learning System students, certified true copy of ALS certificate and the passing result of examination (with school’s official dry seal).
    Baguio residents enrolled in schools outside the city are still considered for assistance.
    The documents should be submitted in two copies, in a long folder.
     One-time submission of requirements is needed, Councilor Cayabas said, thus the 314 earlier approved beneficiaries are assured of next semester’s cash assistance.

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