EY Advisory Senior Director speaks at ACEF 2018

EY Advisory Senior Director Hemant Nandanpawar was a speaker on “Blockchain – Smart Disruption for Clean Energy Deployment” during the Asia Clean Energy Forum (ACEF) 2018 held last 4-8 June at the Asian Development Bank (ADB), Manila. Hemant gave his presentation during the innovative session of “Tools and Products to take us to the Future of Energy” and shared the EY experience regarding use of Blockchain for development in the Energy sector. This year’s ACEF focused on four major thematic sectors, namely: Energy Efficiency, Renewable Energy, Energy Access, and Navigating the Future.

Hemant has extensive international consulting work experience of more than 20 years in the area of Clean Energy, Climate Change and Sustainable Development. He is a certified International Expert on Renewable Energy and Climate Finance and a post graduate of Energy Management, Finance and Sustainable Business from Cambridge University. Hemant is a recipient of prestigious awards and appreciations, including the Energy Award of Government of Maharashtra, Institution of Engineers India (IEI) and the recently-received Best Green Leader Award of the Global CSR Excellence and Leadership panel, for his valuable contributions to the clean energy and sustainability sectors. Previously, he worked as an International Specialist at ADB Manila and also served at the UN-FCCC in Bonn, Germany as a member of the Methodologies Panel.

EY’s increased visibility in the Clean Energy sector through participation at the ACEF is expected to help in developing and accelerating EY’s regional practice in this field. EY also participated at the ACEF last year, representing EY Philippines, EY India, and the EY Asean Region.

The ACEF is ADB’s annual flagship event in the Energy Sector. It is the premier knowledge-sharing event for updates on the latest developments and key issues in Asia’s clean energy sector. Each June, speakers and participants convene with Senior Energy Specialists of ADB and other participants from the government, private and multilateral sectors to network, discuss issues, exchange knowledge and build business. This year, more than 1,400 Clean Energy and Climate Change professionals attended the ACEF.

For more details, log on to the official website of the ACEF at http://www.asiacleanenergyforum.org/

CSLAI bags 2nd Runner Up in ANSLI National Convention

The Certified Savings and Loan Association, Inc. (CSLAI) of SGV & Co. employees was presented with an Award of Merit by the Alliance of Non-stock Savings and Loan Association, Inc. (ANSLI) during its recent 27th National Convention held recently at the Taal Vista Hotel, Tagaytay City. The CSLAI was 2nd Runner Up as SLAI of the Year for the Profitability and Growth Category (Group B category with assets PHP1 billion and below).

The CSLA Board of Trustees

Present at the convention were: Smith C. Lim, 1st Vice Chairman; Leo Niño R. Canlas, Corporate Secretary; Wanessa G. Salvador, Assistant Secretary; Redgienald G. Radam, Compliance Officer; Christy I. Cezar, Internal Auditor; and Victor M. Macatol, Manager.

Established in October 1987, the CSLAI is administered by its 11-member Board of Trustees, headed by its Chairman Karmela S. De Vera.

ANSLI is composed of 57 savings and loan associations and is supervised by the Bangko Sentral ng Pilipinas (BSP). ANSLI member associations provide ready access to financial services and promote financial security to their members in both the private and public sector in the Philippines.

SGV Cebu Holds Tax Updates Beyond the TRAIN

SGV Cebu held last 22 June, a half-day public tax seminar on Tax Updates Beyond the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

The seminar discussed the significant and most recent BIR issuances implementing Package 1a the TRAIN Act, the proposed Tax Amnesty under Package 1b, as well as an overview of Package 2 pursuant to House Bill No. 7458, otherwise known as the “Corporate Income Tax and Incentives Reform Act.”

Global Compliance and Reporting (GCR) Tax Partner Josenilo G. Mendoza discussed the recent amendments to the country’s tax code brought about by the passing of the TRAIN Act, including the proposed bills that are pending for further deliberation in Congress. He also presented simulated computations applying the new tax rates to guide the audience on how to properly compute for specific taxes. The session ended with an open forum.

The seminar was organized by the SGV Cebu office and the Business Tax Services and GCR subservice lines. The organizing team was headed by Atty. Giness Marie G. Rosales and Atty. Virnee Joy T. Agot of SGV Cebu under Cebu Partner-in-charge Cheryl Edeline C. Ong.

SGV Cebu and Davao co-launch the BCYF Innovation Awards

SGV – in collaboration with the Benita and Catalino Yap Foundation (BCYF) and the Department of Science and Technology (DOST) – officially launched the BCYF Innovation Awards (BIA) last 25 June at the SGV Davao Office and on 26 June in Cebu at the City Sports Club.

BCYF Founder and Chairman Tony Yap gives a background on BCYF and the BIA during the launch at the SGV Davao office.

Both events introduced the BIA and its purpose to an audience composed of guests from government, educational institutions, business organizations, business entities and local media.

In Davao and Cebu, BCYF Founder and Chairman Antonio S. Yap shared more background about the BCYF and its different programs. Guest speaker was Engr. Crispin Muyrong Jr. of Sunlight Foods Corporation, the 2017 BCYF Innovation Awardee from the SMEs sector. He shared his numerous environment-friendly innovations which resulted in lowering the company’s overhead costs, thereby allowing savings to be allocated to expanding his business of manufacturing fruit preserves.

BYCF Chairman Tony Yap, Engr. Muyrong (2017 BCYF Innovation Awardee),

SGV Partners Cheryl Ong and Gen Arevalo during the Cebu BIA launch with some of the attendees representing various sectors

The BCYF Innovation Awards is a nationwide search which aims to recognize innovations in five categories, namely: Government Service, Small-Medium Enterprises (SMEs), Education, Technology, and Industry, which have made a meaningful contribution to society. The deadline for entries is on 31 August 2018, and the awarding ceremony will be held on 29 November 2018.

Associate Director climbs Mt. Kilimanjaro

FSRM Associate Director Ben Simon joined a Philippine expedition team on a 6-day ascent to the summit of Mt. Kilimanjaro through the Machame-Mweka route in Tanzania, East Africa.

The mountain, tagged as the rooftop of Africa, has a total height of 5,895 meters above sea level and is one of the seven summits of the world (a list consisting of the highest mountains in each of the seven continents). The success rate of the summit’s challengers is only 65%, mainly because of the complications climbers tend to experience due to the mountain’s extremely high altitudes. On this expedition, only 3 out of 5 Filipino mountaineers were able to successfully reach the summit.

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.