PDIC advises borrowers of Banco Carmona to pay their obligations

PDIC advises borrowers of Banco Carmona to pay their obligations

The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Banco Carmona, Inc. (A Rural Bank), reminded borrowers of the bank to continue to pay their loans and transact only with authorized PDIC representatives.

In a statement, PDIC advised borrowers of Banco Carmona to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL BANCO CARMONA, INC.  The Receiver cautioned borrowers that it has discontinued the engagement of the bank’s collectors.  Moreover, PDIC has not engaged any person to collect the loans of the bank.  To ensure proper recording of payments made by borrowers, PDIC further advised borrowers to keep copies of the PNB Deposit/Payment Slips.  The Receiver emphasized that only payments with validated PNB Deposit/Payment Slips shall be considered valid payments.  Official receipts will be issued by PDIC upon validation of payments and will be sent through mail to the borrowers.  For proper accounting of their payments, borrowers who do not receive their official receipts are advised to send a copy of their deposit slips by mail to the Deputy Receiver for loans Mr. Benefico M. Magday at the PDIC Office, 5th Floor, SSS Bldg., Ayala Avenue corner V.A. Rufino St., Makati City or send via e-mail to Ms. Ma. Flora C. Llana at mcllana@pdic.gov.ph or to Ms. Thelma Arias-Peña attbarias@pdic.gov.ph.

The Monetary Board (MB) placed the Banco Carmona under the receivership of the PDIC by virtue of MB Resolution No. 1181.A dated August 1, 2014.  As Receiver, PDIC took over Banco Carmona on August 1, 2014.  Officers and employees of the closed bank have yet to turn over the bank’s records to PDIC, thereby delaying payout operations for insured deposits.

Banco Carmona is a two-unit rural bank with Head Office located at J.M. Loyola St., Carmona, Cavite. Its lone branch is also located in Carmona, Cavite.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department III at (02) 841-4970 or 841-4663.  Queries may also be sent through email at pad@pdic.gov.ph.

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PDIC to continue processing claims of Asian Consumers Bank depositors

PDIC to continue processing claims of Asian Consumers Bank depositors

The Philippine Deposit Insurance Corporation (PDIC) announced that it will continue to receive and process deposit insurance claims from depositors of the closed Asian Consumers Bank (A Rural Bank), Inc. at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.  Claims may also be filed through mail.

PDIC conducted the onsite claims settlement operations (CSO) for the closed Asian Consumers Bank at the bank’s premises and completed the CSO on July 17, 2014.

PDIC sent notices of payment to depositors with aggregate deposits amounting to P10.4 million involving 2,215 accounts.  Filing of claims for these accounts with balances of P50,000 and below is waived by PDIC.  Meanwhile, PDIC paid 394 claims during the onsite CSO involving 340 accounts for a total amount of P75.1 million deposits.

As of July 17, 2014, PDIC has yet to receive deposit insurance claims for 171 accounts that require the filing of claims.  The total amount of deposits covered by these outstanding accounts is P26.2 million.

When filing deposit insurance claims, depositors are advised to personally present their duly accomplished Claim Form, original evidence of deposit, and two (2) valid photo-bearing IDs with signature of the depositor.  Depositors may also file their claims through mail and enclose the same set of document requirements.

Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar as an additional requirement, with the Claim Form signed by the parent.  Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney (SPA). In the case of a minor depositor, the SPA must be executed by the parent.

The procedures and requirements for filing deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph.  The Claim Form and format of the Special Power of Attorney may also be downloaded from the PDIC website.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Asian Consumers Bank is on June 27, 2016.  After said date, PDIC, as Deposit Insurer, shall no longer accept any deposit insurance claim.

For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at pad@pdic.gov.ph.  Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342).

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The Chief Economist Usec. Gil Beltran on Manufacturing Output

The Chief Economist Usec. Gil Beltran on Manufacturing Output

18 August 2014

 

“Manufacturing output for the month of June 2014 grew by 13.3%, slightly lower compared to the revised data for May 2014 of 13.4%. Meanwhile, sales continued to grow at 24.1% from 18.6% of May. Capacity utilization remained at 83.4%.

“Producer Price Index (PPI) further slowed down to -2.9% in June 2014. This implies that the sector continues to cut costs thus, further enhancing its competitiveness.

“Compared to the first quarter, production output in Q2 grew almost thrice the Q1 level while sales increased 1.5 times the Q1 growth. This means that the sector continued to draw down from inventory as in the first quarter. Replenishment of supply is necessary soon to avoid price increases.

Table 1. MANUFACTURING PRODUCTION

Percent Growth. YOY

Production Volume

Sales Volume

Capacity Utilization

Producer Price Index

Jan-June 2014

8.62%

15.47%

83.25%

-1.03%

2014 Q1

4.3%

12.6%

83.1%

-0.6%

January

4.7%

11.9%

83.1%

-1.0%

February

6.9%

13.8%

83.2%

-0.9%

March

1.2%

12.2%

83.1%

0.0%

2014 Q2

13.0%

18.3%

83.4%

-1.4%

April

12.2%

12.2%

83.3%

-0.2%

May

13.4%

18.6%

83.4%

-1.2%

June

13.3%

24.1%

83.4%

-2.9%

Source: Philippine Statistics Authority

“Overall, output and sales grew by 8.62% and 15.47%, respectively for the first half of the year. However, the growth in output for first half of 2014 is lower than growth posted during the same period last year. Sales, on the other hand, grew at the same level.

Table 2. Comparative Growth in Manufacturing Production, January to June 2013 vs January to June 2014
 

Production Volume

Sales Volume

Jan-June 2013

8.73%

15.47%

Jan-June 2014

8.62%

15.47%

Source: Philippine Statistics Authority

By Sector

“Manufacturing growth for the month of June was broad-based;14 out of the 20 sectors posted a positive growth. Growth was led by the printing sector (153.8%), followed by leather products (4.5%), and fabricated metal products (39.8). The biggest sector, food manufactures, was able to sustain its growth for two consecutive months posting a 13.1% YOY growth for June.

“The fastest growing sectors for Q2 were printing (163.0%), petroleum products (55.6%), and fabricated metal products (46.9%).

“For the first half of 2014, the following sectors posted a significant increase in production: printing (135.4%), furniture and fixtures (67.0%), machinery excluding electrical (52.2%), fabricated metal products (50.0%) (Table 3)

Table 3. MANUFACTURING PRODUCTION (Year-on-Year Growth)

 

Jan – June 2014

2014

2014

Q2

June

May

April

Q1

March

February

January

MANUFACTURING

8.6%

13.0%

13.3%

13.4%

12.2%

4.3%

1.2%

6.9%

4.7%

Printing

135.4%

163.0%

153.8%

226.6%

108.7%

107.7%

165.9%

107.6%

49.7%

Furniture & fixtures

67.0%

11.2%

26.7%

-6.4%

13.4%

122.8%

5.4%

127.8%

235.3%

Machinery exc electrical

52.2%

28.9%

26.7%

10.5%

49.6%

75.4%

91.2%

77.0%

57.9%

Fabricated metal products

50.0%

46.9%

39.8%

47.2%

53.7%

53.0%

57.2%

53.1%

48.7%

Tobacco products

26.8%

4.2%

-9.7%

-2.5%

24.7%

49.5%

15.7%

35.4%

97.3%

Textiles

25.4%

13.1%

15.4%

18.1%

5.7%

37.7%

45.2%

34.3%

33.7%

Beverages

19.4%

23.1%

12.8%

25.4%

31.1%

15.7%

29.7%

17.5%

-0.2%

Petroleum products

19.4%

55.6%

7.7%

18.9%

140.1%

-16.9%

-44.3%

-13.9%

7.6%

Wood products

11.4%

7.4%

6.8%

20.4%

-5.0%

15.3%

-24.8%

20.7%

50.1%

Leather products

10.2%

12.8%

40.5%

-1.6%

-0.6%

7.6%

-2.5%

9.7%

15.7%

Electrical machinery

5.7%

6.3%

4.3%

13.1%

1.4%

5.0%

5.0%

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SC upholds Government Interest in Toll Road Companies, issues TRO against Makati RTC and Cuenca

SC upholds Government Interest in Toll Road Companies, issues TRO against Makati RTC and Cuenca

 

In a Resolution issued on 04 August 2014, the Second Division of the Supreme Court issued a temporary restraining order enjoining the Regional Trial Court of Makati City (RTC), Branch 132 from implementing the RTC’s Writ of Preliminary Injunction prohibiting the implementation of the Interim Rules and Guidelines created by the Toll Regulatory Board (TRB) and the Commission on Audit (COA). 

The Interim Rules and Guidelines governs the net income remittable by PNCC of interests it holds in trust for the national government in the toll road companies operating several toll roads. 

In its Resolution dated 4 August 2014, the SC issued the TRO and ordered the respondents to file their comments, noting that Judge Baybay’s ruling will cause the government grave and irreparable damage as it deprives the government of income based on government’s direct ownership of the said assets.

Dated 9 May 2014, in his capacity as presiding judge of the said court, Judge Rommel O. Baybay directed the Manila North Tollways Corporation, Citra Metro Manila Tollways Corporation, South Luzon Tollways Corporation and Manila Toll Expressway Systems, Inc. “to forward the entire amounts to be remitted by them” under their respective supplemental toll operation agreements to the Philippine National Construction Corporation.

In 2009, the SC had ruled that PNCC’s toll assets and facilities, including the net income derived from these toll assets and PNCC’s very share or participation in the various joint venture agreements were automatically turned over to the National Government upon the expiration of PNCC’s franchise on 1 May 2007.

The Supreme Court then directed the TRB, with the assistance of COA, to prepare and finalize the implementing rules and guidelines for determining the net income remittable by PNCC to the national government.

Issued in 2012, the Interim Rules and Guidelines set the formula for the net income remittable by PNCC through the joint venture companies to the national government. The Interim Rules and Guidelines were issued pursuant to the rulings of the Supreme Court in Francisco v. TRB and Strategic Alliance Devt. Corp. v. Radstock Securities, Ltd. 

Last year, the Bureau of Treasury collected almost Php800 million worth of remittances from MNTC, TMC, SLTC, and CMMTC. Also last year, Rodolfo Cuenca, who is still claiming interests in the said joint venture companies as an original incorporator of what was then the Construction and Development Corporation of the Philippines, filed the case in an attempt to stop the joint venture companies’ remittances to the TRB and to National Treasury.  

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Customs on second phase of hiring process

Customs on second phase of hiring process

Over 6,000 applicants received

 

The Bureau of Customs (BOC) is now on its second phase of the process to hire over a thousand new employees needed to fill up the lack of manpower in the bureau.

Around 6,013 applications from all over the country were received by the BOCs Internal Administration Group (IAG) all vying for the 1,056 plantilla positions available at the bureau’s main office as well as its various collection districts throughout the country.

This number does not include applicants who did not meet the basic requirements like Civil Service Eligibility, those who submitted their applications beyond the August 6 deadline; and those who sent their applications through email. According to BOC-IAG, majority of the applications came from Luzon with 4,364 applicants, 702 came from the Visayas, while 947 applicants are from Mindanao.

The applications are now undergoing preliminary screening to determine if all the minimum qualifications like education, experience, training, and eligibility of the position applied were met. Those who passed the initial screening will be notified via text message or email notice from BOC between August 18 to 24. They are required to take the pre-employment, general ability examination to be conducted by the Civil Service Commission (CSC) on August 31.

Once they passed the CSC exam, the applicants will also take aptitude and psychometric tests determined to measure their personality, interest, aptitude, and values. This will greatly help the bureau in eliminating future employees who are susceptible to graft and corrupt practices.

To prohibit nepotism, applicants with relatives in the BOC up to the 4th degree of consanguinity are barred from applying for any position in the Bureau in accordance with the Administrative Code (Executive Order No. 292).

Applicants who pass the general ability and aptitude exams will then undergo competency-based tests crafted by the BOC which will further test the fitness of applicants to perform the duties of specific positions. These competency-based tests consist of a written exam and interview. A physical fitness test will be conducted for applicants of the Intelligence and Enforcement groups.

The new BOC hiring process is in line with the Revised Guidelines and Procedure in the Hiring and Promotion of Personnel for First and Second Level Positions under Customs Memorandum Order (CMO) 15-2014. The CMO aims to simplify the guidelines, widen the sphere of selection, as well as clarify the procedure for applicant screening to get the best qualified applicants for the bureau.

The BOC only has about 3,600 employees, about half of its actual plantilla size of about 7,000. Hence, most employees are tasked to do double duties. The lack of manpower is further aggravated by natural attrition like retirement, death, dismissal from service, among others.

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