Friday, January 29, 2010

PDIC ‘wise saver’ roadshow goes to Cebu

CEBU CITY

The Philippine Deposit Insurance Corp. (PDIC) took its “wise saver” campaign to this city on Wednesday, bringing representatives of the country’s banking industry to teach more than a thousand business students from universities on how to save properly and wisely.
PDIC president Jose Nograles said reforms in the banking sector have ensured that banks are stronger and regulatory systems better, in order to protect the interest of the saving public. He admits the Legacy scandal that sent several rural banks into bankruptcy and affected thousands of investors has pushed the industry to be more vigilant.
But he told students that the best way to keep money is still in the banks, and it is the responsibility of the sector to encourage people to save.
“We will be continuing with our efforts to teach people on the basics of saving,” Nograles told reporters. “We would also like depositors to be responsible bankers. Banking requires the trust of everybody involved from the clients to the banks.”
Over 1,000 students from the University of San Jose-Recoletos and University of San Carlos joined the Cebu stop of the campaign called Be a Wise Saver.  Also present at the program were officials from the Bangko Sentral ng Pilpinas, the Cebu Bankers Club and the Rural Bankers Association of the Philippines.
PDIC also partnered with the country’s rural banks, who admit they are trying to break free from the stigma caused by the Legacy scam. Nograles said rural banks continue to be at the forefront of microfinancing and community banking relationships.
According to Tomas Gomez IV, past president of the Rural Bankers Association of the Philippines, their group has continued to grow steadily despite the Legacy scandal. He said as of December 2009, there were 2,170 rural banks in the country with 6 million depositors. Half of the rural banks are in places where there are no other banks, he said.
“Many times it is the only bank in the town. Rural banks also have a social purpose in the community,” Gomez IV.
Nograles said rural banks continue to serve their purpose in rural communities and should not be affected by the Legacy scam.
“Legacy was not your usual bank closure and they were doing the usual rural bank operation,” he said. “The relationship with the community remains the core strength of the rural bankers and microfinancing is their core competency.”
The PDIC launched its first financial literacy advocacy five years ago with a unique curriculum-based program in the country and the first in the Asian region. The nationwide advocacy teaches the young people on the value of saving, the impact of savings mobilization on economic growth and PDICs role in helping maintain the stability of the banking system. 

Source: Business Mirror

Growing dumpsite stench affects SRP marketability

CEBU, Philippines - Touted as the “jewel” that could reap millions for Cebu, the South Road Properties is at risk of losing its sparkle with the mounting concerns regarding the Inayawan dumpsite, which is located right at the middle of SRP and the Inayawan residential area.
The Cebu Investments Promotions Center (CIPC), the marketing arm of SRP, admits that the growing stench at the open dumpsite could affect the marketability of the SRP, despite its strategic location as the gateway to the south.
CIPC managing director Joel Mari S. Yu said they have already recommended to the Cebu City government for the immediate relocation of the dumpsite, for the SRP to attract more investors as well as to prevent complaints from existing investors such as Bigfoot Global Solutions, Filinvest Land Incorporated, and SM Prime Holdings.
“I have already recommended to the Mayor that the dumpsite should be relocated soon. But as to how soon? It will depend on the City government,” Yu said adding that the concern of the investors, who are currently building their facilities at the area, is on the foul smell that oozes from the dump to the rest of the 300-hectare spread area.
“The SRP is our premier investment destination in Cebu. The dumpsite must be relocated in order to attract more investors. The presence of the dumpsite is not good specifically that SRP will be the next “pride” of Cebu,” Yu said.
Just this month, SM Prime Holdings finally clinched a deal with the Cebu City Government for the purchase of 30-hectares of prime lots for a P20 billion development project at the SRP.
SM Prime Holdings plans to build one of the world’s largest malls at the SRP as well as establishments of high-end residential condo units, hotels, hospital, and a university.
Filinvest Land Incorporated (FLI), on the other hand, will also spend P25 billion to develop 40-hectares at the SRP.
Filinvest earlier announced that the company will build a multi-residential development that will give Cebu City another landmark with an international flavor, as well as attract the local investors.
Yu said Mayor Tomas OsmeƱa has already agreed to his recommendation of the relocation but the timetable will depend on how fast the Cebu City government could act on this.
In 2008, Bigfoot Global Solutions, reportedly complained about the foul odor coming from the Inayawan dumpsite, which prompted the Cebu City government to use filling materials to cover the hills of trash. This was when Bigfoot personnel were about to move in to their new building at the SRP.
The city government in fact, encouraged the public to donate leftover sand, gravel and other filling materials at the SRP.
However, if the presence of the dumpsite at the SRP hampers the entry of potential investors in the area, relocating it would also mean cutting off the means of livelihood of the scavengers who largely depend on the daily load of garbage dumped at the Inayawan dumpsite.
Lola Minda, a resident of the area who has made a living through scavenging, said she does not really care about the unpleasant smell anymore since what she does at the dump has given them food on their tables.
The old lady said a lot of them depend on what they get from the trash and it has been their livelihood for so many years already and they have no idea what to do and where to go if the dumpsite will be closed as to what they have heard from reports.
She shared that there are times that they find pieces of jewelry in the garbage which is a great help to them but other than that they hope to find other things, which they could benefit from like pieces of metal, plastic and bottles.
Maricris Arites, another resident of the area for the past 15 years said that a lot of people live near the dumpsite and in fact is divided into different areas just at the back portion of the mountain of garbage.
She said they have grown used to the stench, which really gets bad, especially during the rainy season followed by a very hot day and the garbage is being bulldozed and compacted.
But then she said it does not bother them, in fact more and more people are locating in the area to find livelihood through scavenging.
Erlinda Quisel, who has been selling cooked food with her mother just steps away from the dumping site, said that it has not affected their business at all since most of the residents prefer to eat there rather than going to the small stores located at the main road, which is very far.
And as more scavengers grow by the day at the area, small businesses likewise sprouted near the dumpsite selling meals unmindful of the foul smell at the area that could be harmful to their health.           
But for Quisel, she said their health has not been affected and ever since, they have lived happily in the area.
The 15.41-hectare Inayawan landfill started its operation in 1998. Although the landfill’s lifespan was supposed to be only seven years, it is still operating until now due to the lack of a relocation site and the city government has been using a compactor machine for the leveling and pushing of the garbage at the landfill.
Environmentalists have already raised concerns on the growing number of garbage in the area made up of non-segregated trash that would cause damage to the environment and the residents within the area.

Source: The Freeman Cebu

Pinoys abroad tapped to wake up sleepy Bohol town

MARIBOJOC, Bohol

The explorer Pigafetta would have chosen this town over Mactan had it already sported a Hollywood-like sign on its mountain ranges.
But had this town did, it may have attracted not only Pigafetta—who was desperate to escape after his and Ferdinand Magellan’s fleet was pummeled in the Battle of Mactan—but also other explorers who may know only Bohol because of its famed chocolate hills.
That is ultimately what this project hopes to accomplish, according to Mayor Leoncio Evasco: to lure back its former residents, or at least their resources, from abroad.
Evasco said he has secured commitment from the Maribojoc Association USA to construct a Maribojoc billboard—similar to what Hollywood in Los Angeles, USA, has—on the side of the mountain range that faces the Maribojoc Bay.
Evasco is the man behind such project which, he said, aims to raise tourism receipts and attract investors in his town, a five-minute ride northwest of Bohol’s capital city of Tagbilaran.
Evasco said he’s starting with Maribojocanons overseas as a target market.
“We want to raise awareness to the returning Maribojocanons about the town that they left, of what it has become today, and of the values and people that were lost here.”
Evasco spoke to the OFW Journalism Consortium last month to promote the project, which will be announced during the annual town fiesta on May 5.
The feast is the highlight of a town-wide reunion from April 10 to July 31 called Balik Maribojoc.
Besides announcing the construction of the Hollywood-like sign, the reunion aims to showcase some of Maribojoc’s tourist spots.
One of this is Punta Cruz, Bohol’s remaining watch tower, which deterred Spanish pirates during the 19th century.
Punta Cruz is also symbolic for overseas Filipinos and their families in Maribojoc since it is here where the germ for the town’s version of diaspora philanthropy was seeded.
Crossing
PUNTA Cruz is a historic site for the informal, town-wide group of families of overseas Filipino workers (OFWs) who meet in this triangular, sturdy structure almost every month.
The last gathering in October of more than 300 families affirmed Evasco’s belief in the possibility of tapping OFWs as source of social investment.
People just kept coming and the seats were not enough. Municipal government employee James Mabilin, then manning the entrance of the watch-tower compound, couldn’t stop the influx.
The organizers said they expected representatives of only 200 migrant families.
Seafarers waiting for their next contract bankrolled lechon (roasted pig). College-level children of overseas Maribojocanons hosted parlor games around the grassy complex.
Amazed at the turnout, Evasco said he donated P5,000 for additional cash prizes for the parlor games.
“We never had this kind of a crowd, coming from OFWs [and their families] in our town,” Evasco said.
Still, those who joined the gathering represented only half of the total 742 overseas workers and emigrants from this town of 18,133 people.
The figure is based on Mabilin’s census of families with dependents and relatives abroad in Maribojoc’s 22 upland, lowland and coastal villages.
While only half were represented in that gathering last year, it failed to dampen the spirit of Virginia Alindajao, 48, wife of an electrician in Saudi Arabia since 1993.
“I never realized that we OFWs and OFW families,” she said in Pilipino, “are just around waiting to get ourselves together.”
Alindajao is also one of the organizers of Punta Cruz Environmental Organization.
When the buzzword of forming an OFW group swept Maribojoc, she signed up.
Alindajao’s euphoria was shared by Laura Manuta, Mayor Evasco’s sister and a former nurse in Germany and in Saudi Arabia.
Manuta is also a volunteer nurse for the Holy Cross Parish’s medical clinic since retiring in 1997.
She’s also president of the land-based OFW family circle group called the Maribojoc Land-based Migrant Workers and Beneficiaries Association.
On the other hand, the Maribojoc Seafarers and Beneficiaries Association has the town’s agricultural officer, seaman’s wife Eva Bolasco, as its head.
Stronghold
THE stronghold of Maribojoc’s OFW population, Mabilin told the OFW Journalism Consortium, is not the remittances plowing into the town, estimated to be between P52 million to 84 million annually.
It is the OFW townmates’ alayon (bayanihan in Pilipino, or community spirit), Mabilin said.
In December, the groups recommended forgoing a town-wide Christmas party to donate school supplies and slippers to children in the town’s poorest village of Candavid.
Filipino migration and development analysts have remarked the potential of luring the resources and bayanihan spirit of overseas Filipinos and their families right in the migrants’ rural hometowns.
Evasco and the OFW family circles that his office, the Municipal Manpower Development and Placement Office, facilitated to organize are seeking to make that spirit transform the town into an economic paradise.
A fourth-class municipality which income in 2008 was P61.358 million, this sleepy town lacked jobs, forcing some middle-class residents go to the provincial capital of Tagbilaran City, the cities of Cagayan de Oro, Cebu, Davao (like Evasco himself) and Manila, and overseas.
Overseas Maribojocanons’ remittances that pass by the town’s only two pawnshops, as well as banks and money-transfer outfits in Tagbilaran City (some 14 kilometers from Maribojoc)  are the single-biggest economic drivers of Maribojoc, said Evasco.
The lack of vibrant economic activities apart from retail trade, fishing and farming made Maribojoc a fifth-class municipality previously.
“Nothing wrong if you go elsewhere,” two-year Mayor Evasco recalled telling some Maribojocanons during casual conversations, “but come back home and bring with you the ideas and experience you learned elsewhere.”
Maybe after the Hollywood-like sign facing the sea, some would mimic Pigafetta’s journey but not accidentally landing in this town whose name was taken from a pine tree named “Malabojoc.”   

Source: Business Mirror

Thursday, January 28, 2010

Convergys to hire 6K workers

CEBU, Philippines - Call center giant Convergys Philippines Services will be hiring at least six thousand employees this year, large part of which will be coming from Cebu, as the company declared the province as “its main growth driver” for 2010.

In a press conference held Monday, Convergys Philippines country manager Marife Zamora said that the abundant supply of skilled manpower and the pro-active support from the academe, industry sector and the government in Cebu has boosted the company’s confident in pursuing operation expansion here.

Convergys has three location sites in Cebu, the Banawa site, its location site in i2 Building in Asiatown IT Park, and the recently opened 377-production seat that covers three floors in i3 Building also in Asiatown IT Park.

Currently, Convergys is operating in 12 sites in the Philippines with over 20,000 employees. Zamora said the worldwide clients’ demand to locate in the Philippines has made the company grew amid the global recession especially last year.

“The Philippines is the most sought after location by our clients,” Zamora said, thus the employment growth for Convergys in the next few years is expected to double.

For the new site built in i3 building, the company will immediately need at least 600 employees to fill in the 377 production-seat.

The recent flood in Manila has also directed clients to prefer on locating in Cebu, as the province was noted as less affected by any major calamity disasters.

In fact, according to Convergys vice president for operations Stephen Daoust, there were three clients who visited the Cebu location recently to see the site, these are in varied industries

, like telecommunication, financial, and technology industries.

Although the company has admitted that the global recession has affected the volume of jobs outsourced by their clients, mostly from the United States, but the company was able to manage grow in other areas and increase also in number of clients’ served.

In fact, last year, Convergys opened five new sites and amid the global financial distress the company opened about 2000 seats nationwide.

Zamora bared that with the kind of talent Cebu has, and the support the BPO industry gets from the academe, government and the private sector, it is possible that the company will be adding more sites in the next few years.

Aside from the US, Convergys has also started to attract clients from the United Kingdom, and Australia, Zamora said.

Although Convergy’s had already installed sites in other parts of the Visayas like in Bacolod, Zamora said Cebu will remain its growth driver because the province is the center of Southern Philippines, as it continually attract job seekers from other parts of the Visayas and Mindanao.

Convergy’s entered the Philippines’ BPO industry in 2003. It opened its Cebu operation in Banawa a year after. Its state-of-the-art facilities in the Philippines provide support to its worldwide client via telephone, web-chat, and email for a diverse portfolio of blue chip clients and their customers worldwide.

Source:The Freeman Cebu

Tourism boom a "pleasant surprise"

CEBU, Philippines -

The sudden boom of the tourism industry in the past few years comes as a “pleasant surprise,” this according to Department of Tourism Secretary Joseph Ace Durano.

Durano shared during a recent interview with the media that they are looking forward to the continuous growth of the sector for this year in which he said they will be hitting 7 million in terms of tourist traffic going to all the destinations in the country.

According to Durano, this is definitely a good indication of the development of the industry basing on the numbers in the past particularly in 2004 where they had a projected 5 million growth in terms of tourist arrivals for 2010.

“In terms of the growth we were working for, I think it has been a pleasant surprise.”

He said that there have been a lot of welcomed surprises for the industry like the P500,050 billion in tourism investments which they did not expect.

Durano added that he also did not expect that since he started, there will be so many new hotels that has greatly helped the accommodation

of the increase of tourists both from local and foreign markets.

Likewise, Durano said he didn’t expect the country would become a popular destination in just a short period of time as far as the new markets are concerned like Russia.

“It surpassed our expectation.”

But Durano said that regardless of the positive results, it is still important to address the concerns that could greatly affect the whole country and not just the tourist industry.

This including the environmental concern, which Durano said may not pose as a threat for the present time to the people and other government officials who think that it would not create damage in the near future.

“These are realities that were not part at all of our planning and for the sustainability in our country,” he said adding that most of the tourist destinations are in the coast line and could be greatly damaged if sea water level continues to rise due to climate change.

“The most difficult thing is the fact that it still has not sunk in to lot of leaders and individuals and a lot of people think that it is a future event.”

Durano said that therefore it is important to spread the information and educate the people on what is happening. He stressed that it all starts in education and convincing the people to take part in environmental concern and engagement in activities that would protect the world in general.

Source:The Freeman Cebu