LATEST NEWS

SGV Glee performs at JAMI’s 5th Culture Festival

The SGV Glee Club (“SGV Glee”) performed during the celebration of the 5th Culture Festival led by the Japanese Association Manila (JAMI) held last 3 June 2018 at the Santiago Hall, BDO Corporate Center, Makati. Assurance Partners Aileen L. Saringan and Ana Lea C. Bergado led the group. Ms. Rhina Palma-Cruz, a former soprano soloist and member of the world-renowned Philippine Madrigal Singers, conducted SGV Glee’s performance. This is the second time the JAMI invited the group to join the event.

SGV Glee proudly sang the Philippine national anthem to kick off the event. They also performed various songs including Moon River, Panalangin, Rosas Pandan and Wind Beneath My Wings—a song dedicated to our late Founder, Mr. Washington SyCip. As a closing number, SGV Glee had a joint performance with the Manila Glee Club (a Japanese choir based in Manila) and sang a Japanese song, Mura Matsuri

SGV tabulates the Miss Philippines Earth 2018 Pageant

SGV was once again official tabulator for the Miss Philippines Earth 2018 pageant held last month at the Mall of Asia Arena, Pasay City. TAS Head and Market Group 2 leader Ramon Dizon led the SGV team in tabulating judges’ scores. Included in the team were Mariecris Barbaso, Allan Ocho, Crystal Aleli Cornell, Elvin Mercader, Ma. Isabel Herrera, Synzer Kapawen, Denise Michel Bones, Joyce delos Reyes, Cliff Joshua Solon, Curt Jude de Guzman, Kristian Anthony Reyes, Pamela Gale Baldosano, Anna Isabel Sablan, John Lorenz Marquez, Luigi Bacarro, Angelu Daphne Villanueva, Bea Luzia Ebreo, Julius Ceasar Mercado and Arkangela Jerusha Tobes.


TAS Head and MG2 Leader Ramon Dizon steps onstage to turn over the official tabulated scores.

Celebrating its 18th year, Miss Philippines Earth is an environmental advocacy-driven beauty pageant where the candidates and winners actively promote and get involved in the preservation of the environment and protection of Mother Earth through the 5R’s: Re-think, Reduce, Re-use, Recycle and Respect. Apart from a strong emphasis on environmental protection programs, the pageant also aims to showcase and promote various tourist destinations in the Philippines.

Celeste Cortesi from the International Community of Rome, Italy was crowned as the new Miss Philippines Earth 2018. Celeste succeeds Miss Philippines Earth 2017, Karen Ibasco, and will represent the country in the Miss Earth 2018 pageant

SGV and PICPA host dinner for IFAC delegates

SGV and the Philippine Institute of Certified Public Accountants (PICPA) hosted on 1 June a dinner for the International Federation of Accountants (IFAC) at the SGV Museum. It was an opportunity to renew or establish ties and to share knowledge with other global professionals.

The association with the IFAC is particularly meaningful as SGV’s late founder, Mr. Washington SyCip (WS) served as the 3rd IFAC president when he was elected in 1982. IFAC members were treated to a personal video message that Mr. SyCip recorded in honor of IFAC’s 40th anniversary last year. It was the very first time that the video was shown to an audience.

SGV Chairman and Managing Partner Itos Cruz and SGV Vice Chairman and Deputy Managing Partner Wilson Tan, with PICPA president Ms. Zeny Alcantara, hosted the dinner for the delegates.

SGV conducts workshop for Cebu rural banks

As part of its capacity-building initiatives for rural banks, SGV, in partnership with the Rural Bankers Association of the Philippines (RBAP), conducted a two-day workshop last 4-5 May 2018 at the Cebu Grand Hotel, Cebu City. There were 27 participants representing 10 rural banks, one cooperative bank and others from private practice.

FSO Senior Director Cathy Biliran opened the discussion on BSP Circular 855, outlining the importance of having robust credit management policies and frameworks in place, as well as its complete documentation and monitoring. This includes managing Past-Due and Non-Performing loans, as defined by BSP Circular 941.

Associate Director Ruben Simon discussed a holistic approach on formulating credit risk strategy, incorporating an integrated stress-testing as well as new approaches in penetrating new markets as espoused by BSP Circular 908 – the Agri-Value Chain Financing Framework.

Senior Associate Russel Ailes expounded on the proportionate application of PFRS 9, based on the portfolio of the rural banking sector. This includes discussions on approaches in determining Expected Credit Loss (ECL) and loan loss methodologies, among others. He further emphasized that having a comprehensive and ‘clean’ set of data is the prerequisite in formulating models for financial institutions.

Associate Director Ruben Simon also introduced the Risk-Based Capital Planning as an iterative process for capital planning—which takes into consideration the financial institution’s business and strategic plans and risk assessments, as well as its stress-testing scenarios.

FSO Advisory Partner Christian Lauron also discussed how Strategic Asset Allocation can further help the banks in not only managing their resources but also maximizing the potential of these resources. To close the workshop, Associate Director Ruben Simon discussed sample data visualization tools to help the banks formulate management dashboards that could aid in management decision-making.

Also present during the workshop was Rural Bankers Research and Development Foundation Program Manager Ace Calang.

Presenting SGV’s Got Talent Year 7 Finalists!

The SGV’s Got Talent 2018 Auditions were held last 2-3 May at the Washington SyCip Development Center. Out of 41 who auditioned, only 8 emerged as finalists in the Vocal category. Out of the 13 entries in the Dance & Open category, only six qualified for the Grand Finals.

SGV Cebu also held their own auditions last 10 May, and one duo act made it in the finals. The finalists are:

SGV’s Got Talent is now on its 7th year. Past SGV’s Got Talent Grand Winners include – beatboxer Mik Salinas, ballroom pair Vinel Pestaño and Florence Valderama, SGV Cebu’s acoustic band composed of Venice Lafradez, Jose Mondelo, Ricky Sembrano, and Leyman Mancera, singing diva Blessing Barcelona, singer and guitarist Cyra Jureidini, and vocal powerhouse Gladys De Vera.

This year’s Grand Finals will be held on 29 May at the World Trade Center, Pasay City, Manila. The Grand Winner, 2nd and 3rd placers will be awarded P60,000, P40,000 and P30,000 respectively, and a consolation prize of P5,000 will be given for each of the other acts. The winners will also get a chance to perform at SGV’s 72nd Staff Anniversary Party later this year.

SGV Baguio holds TRAIN Seminar

SGV Baguio recently held a TRAIN Seminar at the Venus Parkview Hotel, Baguio City with SGV Tax Partner Leo Leaño as speaker.

It focused on the amendments introduced by the TRAIN Law, including its impact on the tax compliance of taxpayers and the specific special laws it repealed. Several other topics on General Tax Updates were also touched upon during the seminar.

Alumni partners attend executive briefing

SGV conducted an executive briefing for its alumni partners last month at the Washington SyCip Development Center. The briefing included updates on the Code of Corporate Governance, Philippine Financial Reporting Standards, the Data Privacy Act, the TRAIN Law, Securities Regulation Code Rule 68, and the SEC Oversight Assurance Review (SOAR) Inspection Program. A total of 42 retired SGV partners attended the briefing.

ASEAN Regional Risk Management Group Head and Risk Services Head Leo Matignas discussed the different features of the updated Code of Corporate Governance, while Accounting Standards Group Head Yen Abarca covered the latest addition and amendments to PFRS. General Counsel Willie Villanueva briefly discussed the Data Privacy Act of 2012. Market Group 4 Leader Atty. Fame delos Santos provided insights on the salient features of the TRAIN Law. Professional Practice Director and Risk Management Head Lucy Chan then talked about SRC Rule 68 revisions and the SEC’s SOAR inspection program.