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Plantersbank embarks on expansion

6:33 AM

Vernon Joseph Go

Finance Asia names Globe as best managed company in PH

5:05 AM

Vernon Joseph Go

Globe wins Finance Asia Awards for 9th straight year

7:42 AM

Vernon Joseph Go

Leading telecommunications company Globe Telecom received five major citations from FinanceAsia during a recent poll conducted among 265 investors and analysts across the region by the Hong Kong-based publishing giant. This is the ninth straight year that Globe appears in the list of the prestigious annual survey of Asia’s best managed companies.

Globe garnered high marks for the following award categories: Best Managed Company, Best Corporate Governance, Best Investor Relations, Most Committed to Strong Dividend Policy, and Best Corporate Social Responsibility.

“It is truly an honor for Globe to be continuously recognized as among the best companies in the country. It is a testament of our consistent business performance and unwavering commitment to service excellence for all our stakeholders. As a challenger brand, we look for opportunities to innovate and create relevant solutions that will bring us closer to our vision of having the happiest customers. We are here not only to create excellent value for our customers, shareholders, and employees but also to help bring positive change to the Filipino nation,” said Cu.

Aside from being an industry leader, Globe is consistently one of the most profitable companies in the market, successfully orchestrating a dramatic shift in business by seeing vast potential in creating new markets.

In fact, 2011 proved to be a significant year for Globe as the company posted huge improvements in revenues, market share, profitability, and shareholder returns. This was achieved despite the weakness and uncertainty of the global markets, slower domestic economic growth, and a step-up in the competitive dynamics in the telecom industry.

The sustained revenue and earnings momentum, as well as improvements in its market position, translated to dramatic improvements in shareholder value. Globe Telecom’s market capitalization jumped 42% in 2011, outperforming the Philippine composite index - the region’s best-performing market - which grew 4% in the same period.

Globe also provided one of the highest dividend yields in the local market and among telecom companies in the region. The company paid out a total of P8.2 billion in dividends in 2011 equivalent to 84% of prior year’s net income, translating to a dividend yield of 8%. Coupled with the increase in share price, total shareholder return in 2011 was at 51% from -4% in the prior year.

Globe, likewise, firmly believes that integrity, good governance and transparency are critical aspects to its success. These are the principles that make up the company’s foundation to achieving its mission, vision and goals.

On the other hand, the company’s commitment to sustainability and corporate responsibility further extends its brand value. Through Globe Bridging Communities, it is able to engage stakeholders in underserved communities to design their own sustainable future and create opportunities that allow them to contribute to society through the effective use of ICT. Globe BridgeCom stands tall on established socio-developmental impact through the implementation of unique programs such as iGive (volunteerism/calamity-response), iProsper (entrepreneurship), iLead (community relations), iAccess (ICT for development), and iConserve (environmentalism).

FinanceAsia was established in 1996 and is now a leading financial publishing company in Asia with bureaus in Hong Kong, Singapore, and Sydney. It covers Asia’s fast moving financial and capital markets.

Proceeds of Globe P10B bond issuance to partially fund its massive network modernization program

3:51 AM

Vernon Joseph Go

Proceeds of the recent P10-billion retail bond issuance of Globe Telecom will be used to partially fund the massive $700-million network modernization program which the telecom giant is currently undertaking, according to Globe President and CEO Ernest L. Cu.

“The ultimate purpose of this offer is for Globe to create the happiest customers and the happiest employees. Globe is yet one step closer to making our superior customer experience proposition a palpable and pervasive reality,” he said.

Globe is future-proofing its network and modernizing thousands of its cell sites across the country to cater to the emerging mobile data traffic being caused by the growing number of smart phones.

For instance, Globe will be rolling out 10,000 kilometers of fiber optic in the implementation of Long Term Evolution (LTE) technology that will bring high-speed data to mobile phones and other data terminals. The company is also working on creating best-of-breed responsive IT systems throughout the country.

This is a far-reaching transformation that will result in vast improvements in Globe customer experience – quick and reliable call connections, instantaneous text messaging, blazing fast internet browsing, and proactively intelligent spot-on customer support.

“With this endeavor, we aspire to be the truly service-centric company that Filipinos come to love and loyally patronize. Altogether, we fervently believe that through our comprehensive transformation to serve customers better, Globe is advantageously positioned to become the most preferred brand among telecommunication service providers,” Cu said.

Last June 1, Globe officially traded P10 billion bonds in the organized market via the Philippine Dealing and Exchange Corp. (PDEx). It has two tranches which promise future formidable returns of 5.75% per annum over five years and six percent per annum over seven years.

The bond issue obtained a rating of PRS Aaa from Philippine Rating Services Corporation (PhilRatings), representing the highest rating available with the smallest degree of investment risk.

“This P10 billion bond offer is undoubtedly a great investment opportunity. We expect the investment community to aggressively seize the opportunity to benefit from it. I understand that we are already oversubscribed at this point in time,” Cu said.

Joint Lead Underwriters and Bookrunners for the bonds are BPI Capital Corporation, BDO Capital and Investment Corporation, The Hongkong and Shanghai Banking Corporation Limited, and RCBC Capital Corporation. Co-Managers are China Banking Corporation, First Metro Investment Corporation, Land bank of the Philippines, Philippine Commercial Capital, Inc., and SB Capital Investment Corporation.

Comprehensive Tax Seminar “Avoid tax-related penalties before they occur!”

12:54 AM

Vernon Joseph Go

March 28, 2012 | 9:00 AM – 6:00 PM

Golden Prince Hotel & Suites | Acacia St., Corner Archbishop Reyes Avenue | Cebu City

WHY YOU SHOULD ATTEND

As the saying goes, there are only two certain things in life: death & taxes. While both are unavoidable constants in life, the stress involved in the latter can be controlled. For employees, the deduction of taxes from salary alone induces a groan every cutoff but for business owners and finance managers, tax-related burdens run deeper. Even the smallest miscalculation or missing reportorial document could cause grave penalties that could halt business operations.

This seminar is constantly updated to reflect the latest tax developments that affect individuals, business partnerships and corporations. Packed with real-life cases and essential tax information, join our comprehensive discussion on taxes and ways to avoid the looming penalties that even the smallest errors can yield.

WHO SHOULD ATTEND

Finance Managers / Finance Supervisors
HR Managers / HR Administrators
Administrative Officers involved in tax compliance
Entrepreneurs and Business Owners who would like to know about their taxes
Bookkeepers, Accountants, Tax Professionals and Lawyers in need of tax update

TOPICS COVERED

ü Withholding taxes

ü Local business taxes

ü Final withholding taxes

ü Fringe benefit taxes

ü The new VAT Law

ü Updates on Income Taxation

ü Penalties (and more importantly, how to avoid them)

ü What to do when issued a Letter of Authority (LOA)

ü Tax reduction

If you need a Formal Invitation Letter for support and seek a budget approval from your Department / HR Department, kindly email us at info@allianceconsulting.biz together with your complete contact information. We’ll be happy to accommodate your request. Thank you!

LEARNING OUTCOME:

Upon successful completion of this course the participants are expected to be able to:

Understand concepts, treatments, tax implications and computations on Fringe Benefits and De Minimis Benefits
Principles, tax rates and computations on Individual Income Tax and Withholding Tax on Wages
Revenue Regulation 10-2008: Implements certain provisions of Republic Act No. 9504 entitled “An Act Amending Section 22.24.34.51 and 79 of RA No. 8424”
Identify income payments subject to Final Withholding Tax. Final Withholding Tax Rates and Requirements
Nature, classifications, administrative matters and implications of Expanded Withholding Taxes
Salient Provisions of Republic Act 9337 on Value Added Tax and Income Tax
Tax Base, Tax Rates, Time of Filing and Place of Payment of Local Business Taxes
General Guidelines when issued a Letter of Authority

VENUE
Golden Prince Hotel & Suites

Acacia St., Corner Archbishop Reyes Avenue, Cebu City, Philippines, 6000

LEARNING INVESTMENT
Includes AM / PM Snacks, Lunch Buffet, Training Materials and a Certificate of Attendance

Early Bird Rate - P4,500 inclusive of VAT (Deadline March 16, 2012)

Regular Rate - P5,500 inclusive of VAT (Deadline March 23, 2012)

Group Rate - 5 + 1 FREE

NOTE:

· Prizes to be raffled away for the first 50 confirmed participants.

· FREE WiFi Internet access is also available at the function room for those who wish to check their emails during break periods.

RESOURCE SPEAKER

Sarah Saavedra-Songalia is the Managing Director of Sarah Songalia Accounting Group, Inc. (formerly known as Saavedra-Songalia & Associates).

Sarah started her professional career early during her college days at University of the Philippines Tacloban Campus, working part time for the Commission on Audit (COA) and the Society Security System. After obtaining her CPA, she formally ventured into the world of accounting with Sycip, Gorres and Velayo (SGV), the country’s premier accounting firm. She worked with the Audit, Consulting and Outsourcing departments, which kicked off her progressive career in the industry.

Currently, Sarah continues to do consulting work for companies seeking providing alternative finance and accounting solutions.

To date, Sarah Songalia Accounting Group, Inc. (Manila based company) is a premier provider of Business Process Outsourcing (BPO) solutions to mid-sized companies. They aim to provide world-class Business Process Outsourcing solutions using a global delivery model that combines onshore and offshore resources. They services enable their clients to focus on their core business competencies that will give them a competitive advantage, while outsourcing non-core daily transactional activities such as accounting, finance, tax and payroll services.