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  • Filinvest REIT breaches P1-B net income mark in 1H2021

    Newly listed Filinvest REIT Corp. (FILRT) posted a net income of P1.05 billion in the first half of 2021, 8 percent higher than the same period last year.

    This was on the back of revenues that reached P1.96 billion and costs and expenses that were kept at P863 million. The increase in net income was further supported by lower provisioning for taxes mainly caused by the derecognition of projects transferred to parent company, Filinvest Land, Inc. (FLI).

    “We are pleased with the results of our first-half performance considering the general economic climate. The BPO sector, which accounted for 90 percent of our tenants at the end of June 2021, remains to be resilient. We are also happy to note that we are on track to meeting our target distributable income, the basis of forthcoming quarterly dividend distributions, that we promised our potential shareholders during the initial public offering (IPO) of FILRT,” said Josephine Gotianun-Yap, chairperson of FILRT.

    FILRT made its successful debut on the Philippine Stock Exchange (PSE) on August 12, 2021 — the first REIT IPO to be issued amidst an Enhanced Community Quarantine (ECQ) that is currently enforced in the National Capital Region and nearby provinces.

    FILRT bucked the market trend by closing above its IPO price even as the PSE index fell by 1.67 percent and the property Index went down by 3.14 percent. FILRT reached a high of P7.14 before closing at P7.02 on its first trading day.

  • SSS calls upon all employers to comply with the SS Law

    SSS calls upon all employers to comply with the SS Law

    The Social Security System (SSS) reminds all employers, registered and unregistered, to be compliant with their legal obligations to their employees, regardless of employment status, to avoid criminal prosecution under the provisions of Republic Act No. 11199 or the Social Security Act of 2018.

    “Although, we are still coping with the financial crisis brought about by the COVID-19 pandemic, business owners are still expected to fulfill their statutory obligations to secure the welfare and interests of their workers,” SSS President and Chief Executive Officer Aurora C. Ignacio said.

    Under RA 11199, employers are mandated to register their businesses with the SSS by accomplishing the Employer Registration Form (SS Form R-1) and to report all their employees for SSS coverage using the Employment Report Form (SS Form R-1A) within 30 days from actual employment date. They should also deduct from the employee’s salaries/wages the employee share in the monthly SSS contribution and pay together with the employer share of the contribution including the Employees’ Compensation (EC) contribution, and remit these to the SSS through the branch offices with tellering facilities or through SSS accredited banks and collection partners within the prescribed schedule of payments. For the list of SSS partner banks and the different payment channels, employers may access the link https://bit.ly/3lpPYaR.

    Aside from deduction and remittance of SSS contributions, employers should deduct/withhold from employees’ salaries/wages their monthly loan amortizations based on the scheduled payment deadlines and remit the same to the nearest SSS branch office with tellering services or SSS accredited collecting partners. It is also the responsibility of the employers to submit the Loan Collection list online through their My.SSS account at the SSS website.

    “We have also been receiving reports of unposted loan payments from our employed members. However, employers have failed to submit the loan collection lists to SSS which is very important since it is the basis for the crediting of loan payments to the member’s account,” Ignacio explained.

    The SSS Chief also reiterated that employers should pay in advance their employees’ SS and EC sickness benefits, and maternity benefits due to qualified female employees. Registered employers may now submit online their sickness benefit reimbursement applications (SBRA) and maternity benefit reimbursement applications (MBRA) through their My.SSS account. Procedures for the online submission may be found in the following linkshttps://bit.ly/2Ve5XQz and https://bit.ly/3yjeS1B, respectively.

    Failure or refusal to comply with the provisions of RA 11199 by the employer is punishable by a fine of not less than P5,000.00 nor more than P20,000.00, or imprisonment for not less than six (6) years and one (1) day nor more than twelve (12) years or both, at the discretion of the court. But, if the violation consists in failure or refusal to register employees or himself, in case of the covered self-employed, or to deduct contributions from the employee’s compensation and remit the same to the SSS, the penalty shall be a fine of not less than P5,000.00 nor more than P20,000.00 and imprisonment for not less than six years and one day nor more than 12 years. In case the employer deducted the SS contribution or loan amortization from employee’s salary/wages but failed to remit to the SSS, the imposable penalty shall be that provided under Article 315 of the Revised Penal Code on Estafa which provides an imprisonment not exceeding twenty (20) years. Other sanctions which may be imposed against delinquent employers are the issuance of Warrant of Distraint, Levy and/or Garnishment; and non-issuance of SSS Certificate of Compliance/Clearance.

  • 6/55 Grand Lotto Result Today Monday August 16, 2021 from PCSO

    6/55 Grand Lotto Result Today Monday August 16, 2021 from PCSO

    METRO MANILA – Here is the official 6/55 Grand Lotto Result today, Monday, August 16, 2021, based on the official draw result of the Philippine Charity Sweepstakes Office (PCSO). Please refresh this page after the 9PM draw to view the result.

    The Grand Lotto 6/55 jackpot starts at P29.7 million (net of agent’s prize commission). The jackpot grows each time there is no winner. If there are more than one jackpot winner, the jackpot prize will be divided equally among the winners.




    [table id=358 /]




    Other Lotto Games Today

    [table id=307 /]

    https://youtu.be/mo1L8XN5nz4

    How to Play 6/55 Grand Lotto:

      • You have to be at least 18 years old to play. In your playslip, select six numbers from 1 to 55 or mark Lucky Pick (LP) for a computer generated numbers.
    • GrandLotto 6/55 ticket costs 20.00 each 6-number combination per draw.
    • You may play the same number combination for 6 consecutive draws by marking the chosen number of draws in the DRAW panel. You may also opt to play SYSTEM to have more chances of winning.

    Other Results: 2D | 3D | 6/58 | 6/55 | 6/49 | 6/45 | 6/42 | STL

    [table id=3 /]

    Reminders from PCSO:
    You must be at least 18 years old to buy UltraLotto 6/58 Tickets or claim your Grand Lotto 6/55 winnings. The 20.00 play amount is inclusive of 20% Documentary Stamp Tax (DST)
    Players have the sole responsibility for checking the accuracy of the data printed on your ticket(s) including bet type, bet amount, the draw date you want to enter and the numbers you want to play.

    Please ensure that you check your numbers at the official PCSO website. BusinessNews.ph cannot be held responsible for any misprints, typos, or inaccuracies that lead to any financial loss or failure to claim winnings.

  • Max’s Group Proves Sustainable Pandemic Profitability; Reports Second Straight Profitable Quarter in Q2 2021

    Max’s Group, Inc. (“MGI” or the “Company”), the Philippines’ largest casual dining restaurant group, reported today its operating results for both the second quarter and first half of 2021 for periods ended June 30.

    MGI posted second quarter systemwide sales (“SWS”)—comprised of sales generated by both company-owned and franchised stores—of P2.91 billion and revenues of P1.78 billion. These reflect comparable growth of +82% and +67% respectively versus the same period in 2020.

    “We are heartened by the resilience demonstrated by our powerhouse portfolio of most-loved brands in protecting consumer relevance, even with headwinds against us,” stated MGI President & Chief Executive Officer Robert Ramon F. Trota. “Despite ongoing challenges both locally and internationally, including heightened restrictions in the front-end of the second quarter, we take pride in the growth surge we achieved, particularly with our renewed focus on our ‘core of core’ brands of Max’s Restaurant, Pancake House, Yellow Cab Pizza Co., and Krispy Kreme. In fact, our total first-half sales via our Delivery channel nearly doubled pre-pandemic levels, even as the government allowed customers to return to Dine-In throughout much of these first six months. This proves the strongly-entrenched demand for the brands we operate.”

    For the total first half of 2021, the Company recorded total SWS of P5.75 billion, a 3% increase versus the P5.59 billion performance of 2020, which includes the pre-pandemic months of January and February. Comparatively, revenues softened by -4% to P3.62 billion, as compared to the P3.79 billion reported for first-half 2020.

  • DICT celebrates the ASEAN Month 2021

    DICT celebrates the ASEAN Month 2021

    Amid the current focus on the response and recovery from the COVID-19 pandemic and the numerous global issues and impediments, the Department of Information and Communications Technology (DICT) is one with the Association of Southeast Asian Nations (ASEAN) in commemorating its 54th anniversary under the chairmanship of Brunei Darussalam with the theme, “We Care, We Prepare, We Prosper.” and the ASEAN Month this August in recognizing the significant role of ICT in the response to and recovery from the pandemic.

    To support the ASEAN Digital Ministers (ADGMIN) Meeting’s aspirations, the DICT actively participated in the fulfillment of the ASEAN ICT Masterplan 2020 and reaffirms its commitment to the ASEAN Digital Masterplan 2025 by developing and implementing various plans and programs aimed at further enhancing and promoting the use of ICT in progressing regional economic development.

    The DICT was instrumental in the conduct of the inaugural ASEAN-China Cyber Dialogue last 2020 which was co-chaired by the Philippines. Moreover, the DICT spearheaded the recently concluded ASEAN Smart ICT Ecosystem Framework Project that was developed through the collaboration of Brunei Darussalam, Vietnam and the Philippines as the lead. The project sought to identify and create the Architecture for the ASEAN Smart Cities platforms with due consideration on the use of ICT in Disaster Risk Reduction Management (DRRM) System and the availability of a secure, scalable and connectable Transmission Control Protocol/Internet Protocol (TCP/IP) address identifiers. The project was finalized in 2021 and the DICT continues to advocate its implementation locally through the conduct of webinars and focus group discussions.

    An ongoing undertaking of the DICT that is funded by the ASEAN is the implementation of the project, Digital Jobs towards ASEAN Integration: “Creating meaningful ICT-enabled jobs in socio-economically disadvantaged areas in the ASEAN Region” which aims to increase the ICT technical skills of the talents in the countryside within the ASEAN member countries; to increase the employability of the people to land a job in the field of ICT; and to promote local talent and local businesses of the ASEAN.

    For 2022 workcycle activities, the DICT proposal entitled ASEAN Action Plan on the Promotion of Green Digital Initiative was endorsed to the Senior Officials during the recently held ASEAN Joint Working Group meeting. The Action Plan is envisioned to provide pragmatic and actionable insights, strategies, programs and projects that will help the ASEAN Member States (AMS) in ensuring sustainable development in the region through the promotion of Green ICT.

  • DILG kicks off series of workshops to help LGUs for full devolution next year

    DILG kicks off series of workshops to help LGUs for full devolution next year

    In preparation for the implementation of the Supreme Court (SC) ruling on the Mandanas-Garcia petitions next year, the Department of the Interior and Local Government (DILG) is now preparing local government units (LGUs) for the full devolution of basic services and facilities as it has kicked off a series of orientations and workshops to help LGUs prepare their Devolution Transition Plans (DTPs) in accordance with Executive Order (EO) No. 138.

    “We will coach and guide LGUs every step of the way to ensure that they are ready for full devolution starting with their preparation of DTPs. This is indeed a collaborative effort between the national government agencies (NGAs) and LGUs towards attaining our goal of full devolution,” said DILG Secretary Eduardo M. Ano.

    Ano said the DTP shall serve as LGUs’ roadmap to ensure strategic, systematic, and coherent actions towards their full assumption of devolved functions and services starting 2022. It shall serve as their handy reference in carrying out organizational strengthening efforts and upgrading of institutional capacities in the next three years.

    “The LGUs’ respective DTPs shall also serve as guide in the monitoring and performance assessment of the LGUs by the Department of Budget and Management (DBM), DILG, and other NGAs concerned,” he said.

    According to the DILG Secretary, the DILG and DBM will jointly issue LGU DTP Guidelines to provide the necessary guidance to our LGUs in the preparation of their respective DTPs. “As they prepare their DTPs, LGUs are encouraged to coordinate and collaborate with NGAs to ensure complementarity of devolution efforts between the national and local governments,” he said.

    Signed by President Duterte in June this year, EO 138 and its Implementing Rules and Regulations (IRR) mandate all provinces, cities, municipalities, and barangays to prepare their DTPs in close coordination with the NGAs concerned to guide them towards the full assumption of devolved functions and services that come with more financial resources.

    In Mandanas et al. v. Executive Secretary et al. case, the SC held that all collections of national taxes, except those accruing to special purpose funds and special allotments for the utilization and development of the national wealth, should be included in the computation of the base of the Internal Revenue Allotment of LGUs.

  • DSWD clarifies financial assistance payout

    The Department of Social Welfare and Development (DSWD), through the Office of the Secretary, clarified that the payouts for the cash assistance for affected individuals in the National Capital Region (NCR) are yet to be set by the Local Government Units (LGUs).

    This clarification was made following a news article that misquoted the DSWD Spokesperson, Director Irene Dumlao, of saying that cash aid payouts in NCR may start on August 7.

    In her radio interview where the news article was lifted, Director Dumlao expressed “hopefully… mailabas na nga ang Local Budget Circular (LBC) and sana pati na ang notice of cash allocation.” This, as she explained that funds for the financial assistance will be downloaded directly by the Department of Budget and Management (DBM) to the LGUs, as contained in the Memorandum of the Executive Secretary dated August 03, 2021.

    It can be recalled that on August 06, 2021, the DBM issued LBC No. 138 setting the budget parameters for the financial assistance. Pursuant to this, the DILG, DSWD, and DND crafted the Joint Memorandum Circular (JMC) which will be the guide of the LGUs in distributing the financial assistance.

    The said JMC has been signed today, August 07, 2021 and will be issued by the DILG to the LGUs for their onward scheduling of payouts. (DSWD/PIA-NCR)

  • 54 years of strong regional cooperation, network of partners for biodiversity

    54 years of strong regional cooperation, network of partners for biodiversity

    Today, as we celebrate the 54th anniversary of the founding of the ASEAN, it is with pride and optimism that we look at the important achievements the robust cooperation among the Member States has made possible. This cooperation is underpinned by the ASEAN Member States’ (AMS) common interest to protect its rich natural heritage and shared responsibility to sustainably manage its d diverse biological resources.

    As an organisation working under the auspices of the ASEAN, the ASEAN Centre for Biodiversity (ACB) continues to contribute to the deepening and strengthening of the collaboration among the Member States, including the expansion of the network of partners with the aim of protecting and sustainably managing the region’s biodiversity.

    Amid the ongoing health crisis and the worsening impacts of climate change, the resolve of the region to rise above these challenges is even more pronounced. Brunei Darussalam’s leadership this year that seeks to advance multilateralism motivates us to do more and serve the region better.

    Just last Friday, as part of the celebrations of the ASEAN Day, the ACB, together with the ASEAN Secretariat, formally launched the ASEAN Green Initiative (AGI), a region-wide programme that aims to ramp up restoration efforts and plant at least 10 million native trees across the 10 ASEAN Member states in a span of 10 years. The AGI sets the standards for the recognition of tree-planting activities and programmes across the region that not only regrow our forests but also contribute to peoples’ well-being, livelihood improvement, and resilience-building.

    The AGI in itself is a demonstration of the strong cooperation among the AMS and their commitment to biodiversity conservation and ecosystem restoration in the region.

    As the ASEAN Deputy Secretary-General for ASEAN Socio-Cultural Community Kung Phoak said at the virtual launch of the AGI, the region-wide programme is hoped to be “a catalyst that will mobilise contributions from the whole-of-society.”

    We are also pleased that despite uncertainties due to the ongoing pandemic, we have the constant support of our regional and international partners. As we continue to scale up our efforts, including in the mainstreaming of biodiversity across various sectors, we continue to expand our network.

    Indeed, together as a region, we can achieve more. May the celebrations of the ASEAN Day bring inspiration and hope that we can overcome present challenges and ensure a brighter future for the ASEAN – a region that cares, prepares, and prospers.

    May this day also instill in us that #WeAreASEANBiodiversity.

    Happy 54th ASEAN Day!

    Dr. Theresa Mundita S. Lim
    Executive Director, ASEAN Centre for Biodiversity
    08 August 2021

  • Lazada and DTI strengthen partnership, host Online National Food Fair in 8.8 Love Local Sale

    Lazada and DTI strengthen partnership, host Online National Food Fair in 8.8 Love Local Sale

    Lazada Philippines and the Department of Trade and Industry (DTI) strengthen their partnership to fuel the resilience and growth of micro, small, and medium enterprises (MSMEs) across the regions by showcasing even more brands and products during Lazada’s 8.8 Love Local Sale happening from 8-12 August 2021.

    Lazada’s 8.8 Love Local Sale will feature a celebration of Philippine cuisine at the Online National Food Fair, showcase Filipino craftsmanship through the official launch of the Lazada Go Lokal! Concept Store, and offer consumers up to 88% off on selected products, additional 10% off on local brands, and free shipping vouchers with no minimum spend nationwide.

    “The pandemic brought on an era where e-commerce has become part of the backbone in driving the resilience and growth of businesses, large and small. For us at Lazada, it has always been our core mission to help Filipino businesses go and grow online. As a result, a big part of what we do has always been to work closely with our industry partners to ensure that we continue to provide opportunities for our MSMEs to digitize their businesses and thrive online,” shares Lazada Philippines chief operating officer Carlos Barrera. “The DTI has been a valuable partner for us in ensuring that we reach and equip even more MSMEs with the tools they need to succeed,” he adds.

    “Our MSMEs are the lifeblood of the country and through our strong partnership with Lazada Philippines, we are grateful and excited that even more homegrown entrepreneurs are positioned to be discovered, will have access to a wider market, and provided with better economic opportunities,” shares Director Marievic M. Bonoan of the DTI-Bureau of Domestic Trade Promotion. “More importantly, this exclusive partnership equips local sellers with critical business and marketing skills and tools that are invaluable in today and tomorrow’s economic contexts.”

    n a joint effort to uplift local food and beverage businesses, the Online National Food Fair shines the spotlight on the best Pinoy flavors on the Lazada app. From 8-12 August 2021, the online campaign promotes homegrown ingredients and dishes from across the archipelago by featuring over 180 food shops and sellers nationwide.

    Coco Dolcè Chocolates offers gourmet chocolate handmade by artisans using the traditional conching method with organic ingredients community-traded in Mindanao. Ilonggo brand Al Di Foods is a favorite with its turmeric tea and other healthy products.  Quezon City-based Caramba Foods makes every meal a feast with its hot sauces.

    These are just some of the sellers and products showcased at the Online National Food Fair, that celebrates the country’s culinary diversity while also giving consumers the opportunity to discover rich stories of heritage and triumph. Shoppers can enjoy interactive activities like cooking sessions, product demonstrations, and also avail of real-time promotions through Lazada’s livestream feature LazLive.

  • Philippines makes headway in launching the ASEAN Customs Declaration Document Exchange

    The Bureau of Customs (BOC) successfully received concurrence from the United States Agency for International Development (USAID) for the completion of the bidding process for the ASEAN Customs Declaration Document (ACDD) Management System. The procurement of the System for BOC formally started in May 2021 based on the ACDD Business Processing Analysis (BPA) Report developed by the BOC ACDD Project Team.

    This milestone will help link the Philippines to electronically exchange ACDD information on the ASEAN Single Window (ASW) regional trade facilitation platform. It will broaden economic integration and meet the Philippines’ ASEAN commitment in digitizing trade processes and maximize the potential of intra-ASEAN trade.

    USAID, through the ASEAN Policy Implementation (API) Project, is also assisting the BOC to develop a National Master Data Plan for Information Sharing and Interoperability using the Technical Reference Model approach.

    During the 10th ACDD Project team Meeting, Mr. Dennis C. Pantastico, ASW Regional Advisor explained the USAID Concept Paper that will be used in developing the technical reference guidelines. It encapsulates the overall operational environment of the Single Window enabling platform for operational transactions, data extraction for risk profiling, business and informational rules, inter-agency information exchange, and the whole of government approach driven by business rules.