TAS staff members pass CFA Level I and Level II exams

Transaction Advisory Services (TAS) Director Jan Michael Saniel recently passed the Chartered Financial Analyst (CFA) Level II examination while TAS Associates Erwin Daniel Garcia and Nadia Kristina Ona passed the CFA Level I examination. They are now one step closer to completing the CFA program.

Offered by the CFA Institute, the CFA credential is the standard of choice for investment professionals with real-world analytical skills, technical competence and high ethical and professional standards. Level I tests a candidate’s knowledge and comprehension of investment tools, and Level II focuses on application of these tools and analysis for asset valuation. Level III is the synthesis and evaluation of all the learnings in the portfolio management context.

Congratulations Mikoy, Erwin and Nadj!

ACM speaks at CFO Summit

SGV Assurance Partner and Financial Accounting Advisory Services (FAAS) Leader for ASEAN and the Philippines Aris Malantic (ACM) recently spoke at the 10th Corporate Treasury & CFO Summit Philippines at the Fairmont Makati Hotel, Makati City. The summit, which focused on finance and treasury strategies to manage corporate growth, was attended by more than 300 financial executives.

ACM’s presentation covered an overview of the three new accounting standards (PFRS 9, PFRS 15, and PFRS 16), their business implications, related practical considerations, and key requirements. Illustrative examples were provided to aid in understanding the newly issued standards, which are bound to have a major impact on business operations.

Department of Budget and Management Secretary Benjamin Diokno was also present during the event, and opened the program with a keynote address. Executives from leading corporates and banks offered their insights on various topics related to corporate finance, such as the country’s current economic and market landscape, technological disruption, monitoring risk, and automation.

SGV/EY Senior Director at Philippines Investment Forum 2018

SGV/EY Senior Director Hemant Nandanpawar spoke during The Philippines Investment Forum 2018 of the Euromoney Conference last 19 October at the Fairmont Makati. Over 500 delegates from across the region, representing investors, issuers, policy makers and financial intermediaries, attended the forum to discuss the outlook for the Philippine economy.

As a Clean Energy and Green Climate Finance expert, Hemant was a panelist in the discussion session “Going green in the Philippines – was the Mabuhay green bond the start of things to come for the Philippines’ green bond sector?” The panel discussed the needs, opportunities and challenges of promoting Green Bonds in the Philippines. The Green Bonds will help the development of climate-friendly and green infrastructure, in view of the country’s environmental commitment (i.e., Nationally Determined Contributions or “NDC”) of GHG emission reductions under the UN Agreement on Climate Change (Paris Agreement).

The other panelists were Standard Chartered Bank Head of Capital Markets for the Philippines Erwein Catoto; Ephyro Luis Amatong, Supervising Commissioner, Securities and Exchange Commission; and Priscilla Ng, Associate Financial Officer, Treasury Department, International Finance Corporation, Singapore.

SGV Cebu hosts comprehensive tax seminars

SGV Cebu recently conducted public tax seminars covering Expanded and Final Withholding Tax (EWT and FWT) and Maximizing PH Tax Incentives at the Cebu City Sports Club, Cardinal Rosales Ave., Cebu City.

The seminar on EWT and FWT highlighted the changes brought about by Republic Act No. 10963, also known as the Tax Reform for Acceleration and Inclusion (TRAIN) Law. SGV Tax Partner Leo Leaño discussed EWT and presented simulated computations and cases applying recent amendments, tax cases, BIR rulings and issuances. The purpose was to help guide the participants on whether or not to apply EWT on certain payments, the correct use of EWT rate and the timing of withholding. The presentations were followed with an open forum. SGV Cebu Partner-in-charge Cheryl Edeline Ong (CCO) facilitated the extensive discussion on the FWT guidelines and recent amendments, including the significant and most recent BIR issuances implementing the TRAIN Law.

The seminar on Maximizing PH Tax Incentives focused on maximizing the tax incentives currently granted by the country to companies registered with the Philippine Economic Zone Authority, the Board of Investments, and the Tourism Infrastructure and Enterprise Zone Authority, as well as provided an overview of the changes that accompany the proposed Tax Reform for Attracting Better and Higher Quality Opportunities bill.

The seminars were organized through joint efforts of the SGV Cebu Business Tax Services (BTS) and Global Compliance and Reporting (GCR) teams under CCO, headed by Atty. Mipps Mardie Semillano, Atty. John Edmar Garde, Atty. Giness Marie Rosales and Atty. Cherry Llorad.

SGV bowlers score in tournament

The SGV Bowling Team participated in the 36th Annual Tenpin Bowling Tournament of the Chamber of Mines of the Philippines, held from 17 July to 16 October at the Coronado Lanes, Starmall Shopping Complex, Mandaluyong City.

This year’s team, led by Mining Partner Jaime Del Rosario, was composed of Leo Canlas, Marc Wong, Nhikko Borromeo, Billy Nepomuceno, Alvin Coñate, Juan Miguel Sanchez, Jhong Bernardino and Jericho Buitizon for the Men’s Division and Sylvia Sanchez, Leah Pis-An, Dieza Fe Arriesgado and Muriel Eguac for the Women’s Division.

Leah Pis-an and former Advisory Associate Director Alvin Coñate both finished as 2nd placers in Class B of the Women’s and Men’s Division, respectively. The awarding ceremonies for this year’s tournament will be held on 9 November.

SGV participates in Beijing forum

EY China’s Government and Public Sector (GPS) group recently organized a forum on Agriculture Tech-City in Beijing. The forum brought in experts from the academe, agribusiness, and the government sector, as well as other international resource persons. It aimed to provide an avenue to discuss key success factors on how research and private-sector development would help innovations in the agriculture sector and contribute to food security.

FSRM Associate Director Ruben Simon Jr., also one of SGV’s GPS resource persons on agribusiness, rural development and financial inclusion, discussed how such developments happen in the Philippine setting. He spoke on how private and government sector alliances such as the International Rice Research Institute (IRRI), PhilRice and the state universities have strived to democratize plant breeding capabilities for rice to enable rice farmers to become scientists themselves – in addition to being recipients of enhanced varieties from these institutions. The private sector (i.e. seed companies) has also partnered with local farmers to push forward inclusive innovation, research and development for the agriculture sector. He reiterated that it is equally important that the government put in place enabling policies and support mechanisms to stimulate the sector that has seen a decline in terms of contribution to the country’s Gross Domestic Product.

Our Purpose Journey

Since it was established in 1946, SGV has held true to its core values and ideals. Generations of partners and staff have worked toward achieving our late Founder Washington SyCip’s vision for the Firm – to develop quality people and leaders who contribute to national development. And now, after reflecting on everything that defines SGV as a Firm, our leaders reiterate this vision in our Purpose.

“In everything we do, we nurture leaders and enable businesses for a better Philippines.”

SGV remains strong because the Firm and its people believe that in everything we do, we envision the greater good of the country. With our renewed purpose, SGV maintains its position as the market leader, strengthened by people who embody integrity and excellence, building relationships based on doing the right thing. As one Firm, SGV will work towards sustaining a prosperous economy in a country where people’s lives are uplifted – truly, a better Philippines. And in building a better Philippines, SGV contributes to building a better working world.

SGV celebrates 72 outstanding years

SGV Partners and Staff gathered to celebrate the Firm’s 72nd Anniversary last 4 September 2018 at the Mall of Asia Arena, Pasay City. The event also marked the beginning of SGV’s Purpose Journey, a reiteration of the “why” behind everything that SGV stands for.

SGV Vice Chair and Deputy Managing Partner Wilson Tan opened the first part of the program with the announcement of all promotions. In his welcome remarks, he congratulated all SGVeans on another successful fiscal year and thanked everyone for their inspiring diligence.

At the start of the second half of the program, SGV Chairman and Managing Partner Itos Cruz spoke of SGV’s recent accomplishments and the latest developments in Advisory and Assurance Services. He reminded everyone to uphold SGV’s continuing Legacy by living the SGV Purpose. He then called on stage the Leadership team members who were among the first to commit to SGV’s Purpose. Immediately following his message was a short video titled “Choices” that captured the spirit behind our Purpose Journey.

Recognition was also given to SGV’s Top Placers in the CPA and Philippine Bar Examinations and to Loyalty Awardees. The much-awaited SyCip and Special Awards were presented. The program concluded with the formal presentation of the new SGV partners, who now serve as the latest mentors and stewards of the Firm.

Just admitted to the partnership!

SGV welcomed seven new high performers into the Firm’s continuously expanding partnership, now composed of a total of 114 partners. The seven new partners will begin FY19 as SGV’s newest stewards and mentors, helping lead the Firm to achieve its purpose.

The Firm’s newest partners are:

Veronica Mae Balisi (VAB), FSO Partner from MG5;
Meynard Bonoen (MAB), Assurance Partner from MG2;
Erwin Paigma (EAP), Assurance Partner from MG6;
Margem Tagalog (MAT), Assurance Partner from MG4;
Shane Dave Tanguin (SDT), Assurance Partner from MG3;
Peter John Ventura (PRV), Assurance Partner from MG7; and
Ma. Emilita Villanueva (ELV), Assurance Partner from MG8.

SGV honors quality work and leadership

SGV once again honored its high performers with much-deserved awards presented during the Firm’s 72nd Anniversary.

The prestigious SyCip Award was conferred on Advisory Senior Director Carlo Kristle Dimarucut for his invaluable contributions to the Firm, especially in developing its Data Privacy Advisory Services, which helped SGV earn its reputation for its expertise in the field. He was also commended for being instrumental in the growth of the SGV Cybersecurity practice – a key growth strategy for the Firm’s Advisory services.

The SGV Special Awards were given to several teams and individuals for their outstanding performances and leadership.

The Special Awards for Personal Leadership were presented to Business Tax Advisory Senior Director Margaux Advincula, FSO Advisory Senior Director Christian Edmund Chua and FAAS Director TJ Ray Raagas for their innovativeness in their engagements throughout the course of the previous fiscal year and their commendable contributions to their respective teams and service lines.

The Special Award for Team Leadership was presented to Advisory Senior Director Joanna Paula Caubalejo-Tan for her constant mindfulness of the well-being of her team members and being an excellent role model to them.

The Special Awards for Client Leadership were presented to the CMC/IFRS Team for EY Vietnam, the ECL Team, the JTI Team of BTS and GCR from the Makati, Cebu and Davao Offices, the team of Project Graze from Transaction Advisory Services and to Assurance Senior Director Genghis O. Gorospe. These teams and individuals consistently practiced a client-first mentality in their engagements, catering to their respective clients’ needs despite tight deadlines and limited resources, constantly making adjustments as necessary.

Kudos to our SyCip and Special awardees!