Key Rates
20 November 2009
US$ 1.00 PhP 46.912
JAPAN YEN 0.527000
UNITED KINGDOM POUND 76.1695
HONGKONG DOLLAR 6.0536
SAUDI ARABIA RIAL 12.509900
EUROPEAN MONETARY UNION EURO 69.983300
Repo Rate 6.00%
Reverse Repo Rate 4.00%
Inflation Rate (Oct '09) 1.6%
NEER 12.666
91-day T-bill Rate 3.824%
Gold Buying/ troy oz. US$1142.10
Silver Buying US$18.50
Source: Banko Sentral ng Pilipinas
PHILIPPINE STOCK EXCHANGE
Active Stocks
As of Nov 20, 2009, 12:10 PM
No. Sec Name Symbol Price Volume
1 MANILA ELECTRIC COMPANY MER 228.00 1.295
2. SM INVESTMENTS CORPORATION SM 315.00 928
3. PHILEX MINING CORPORATION PX 17.50 14,817
4. MANILA WATER COMPANY, INC MWC 16.25 13,982
5. Century Peak Metal Holdings Corporation CPM 5.60 32,155
6. AgriNurture, Inc. ANI 28.00 5,737
7. ISM COMMUNICATIONS CORPORATION ISM 0.065 2,582,200
8. PLDT COMPANY "Common" TEL 2,545.00 50
9. MEGAWORLD CORPORATION MEG 1.52 76.592
10. AYALA LAND, INC ALI 12.25 9,432
11. BANCO DE ORO UNIBANK, INC. BDO 40.50 2,746
12. METROPOLITAN BANK & TRUST COMPANY MBT 45.40 2,252
13. FIRST PHILIPPINE HOLDINGS CORPORATION FPH 51.00 1,823
14. METRO PACIFIC INVESTMENTS CORPORATION MPI 2.70 33,191
15. ALLIANCE GLOBAL GROUP, INC. AGI 4.35 19,984
16. ENERGY DEVELOPMENT (EDC) CORP EDC 4.10 2,105
17. SM PRIME HOLDINGS, INC. SMPH 10. 8,219
18. BANK OF THE PHILIPPINE ISLANDS BPI 47.50 1,619
19. GLOBE TELECOM, INC GLO 955.00 66
20. PHILWEB CORPORATION WEB 18.25 2,787
Top Gainers
As of Nov. 20, 2009, 12:10 PM
No. SECURITY NAME SYM VOLUME PRICE
1. WATERFRONT PHILIPPINES, INC. WPI 10,000 0.36
2. ISM COMMUNICATIONS CORP ISM 2,598,200,000 0.065
3. JOLLIVILLE HOLDINGS CORP. JOH 305,000 2.10
4. FIRST ABACUS FIN HOLDS CORP. FAF 6,540,000 0.91
5. PETRON CORPORATION PCOR 9,170,000 5.70
6. PAL HOLDINGS, INC PAL 4,000 2.90
7. MABUHAY VINYL CORPORATION MVC 41,000 0.95
8. ALCORN GOLD RES CORP APM 53,000,000 0.0085
9. PHILEX MINING CORPORATION PX 14,817,200 17.50
10. ISLAND INFORM AND TECH, INC. IS 2,300,000 0.09
Top Losers
As of Nov. 20, 2009, 12:10 PM
No. SECURITY NAME SYM VOLUME PRICE
1. ARANETA PROPERTIES, INC ARA 180,000 0.48
2. BDO LEASING & FINANCE, INC.. BLFI 159,000 1.40
3. DFNN INC. DFNN 5,000 6.90
4. VITARICH CORPORATION VITA 3,520,000 0.28
5. PHIL. SEVEN CORP "Common" SEVN 20,000 7.50
6. AgriNurture, Inc. . ANI 5,737,000 28.00
7. ATOK-BIG WEDGE CO, INC. "A" AB 7,100 52.00
8. EMPIRE EAST LAND HOLDS, INC. ELI 5,150,000 0.44
9. EVER-GOTESCO RES & HOLDS, INC.EVER 2,420,000 0.115
10. PHILIPPINE NATIONAL BANK PNB 1,778,200 25.00
Oro Chamber elects new set of officers
The country’s first Hall of Fame Most Outstanding Chamber of Commerce- the ORO CHAMBER, successfully held its election of officers last November 11.
In a 7-6 close race, Mr. Ralph U. Paguio of CEPALCO was elected as Chamber President for 2010. The other elected chamber officers are the following:
VP for Agri, Fishery & Mining Sector Dr. Hector San Juan (Helms Agri-business)
VP for BSO Sector Engr. Raymundo P. Reyes (COC-Phinma)
VP for Manufacturing & Industry Sector Ms. Ma. Teresa R. Alegrio (STEAG State Power)
VP for Services Sector Jeffrey T. Ang (Max’s Restaurant)
VP for Trade & Commerce Sector Antonio D. Uy (Music Vision)
Secretary Bans Gualberto (Ultracraft)
Treasurer Efren T. Uy (Cagayan Universal Hardware)
Immediate Past President (IPP) Rodolfo L. Meñes (Pueblo de Oro Corp.)
Trustees Dra. Fe R. Juarez (Capitol University),
Eduardo Alaba (Dynamic Pharmacy and DSAP)
Engr. Cerael Donggay (Bukidnon Hydro Project),
Jessie Co (New CCH Hardware),
PP Elpie M. Paras (Parasat CATV), and
PP Mr. Ruben A. Vegafria (Hatrima Corp.)
The Oro Chamber Board is composed of 15 trustees representing five sectors wherein each sector has three (3) representatives who will identify and deal with all the issues and concerns, respectively.
Incoming Chamber President Ralph Paguio is excited to serve the general membership of the Oro Chamber. Right after he was elected President, Mr. Paguio expressed his gratitude and also solicited the full support and cooperation of the other members of the Oro Chamber Board to be able to continue the group’s business policy advocacies and other business development and promotion programs to bring about more investments and developments so as to generate the needed jobs and revenues for the people in Region X and the entire island of Mindanao.
The 2010 Oro Chamber Board of Trustees will take their oath and will be presented to the general membership during its 4th Quarter General Membership Meeting cum Christmas Party on December 4 at the Embassy Hall, VIP Hotel, this city.
Pueblo Conducts Bamboo Planting at Calaanan Creek
Some 35 employees of Pueblo de Oro Development Corporation (PODC) and Pueblo Golf conducted a joint bamboo planting activity on the morning of November 14, 2009 along the Calaanan Creek. The creek forms the western boundary of the valley portion of the Pueblo de Oro Township. Volunteers planted some 100 bamboo shoots along the creekside to help fortify and protect the banks from soil erosion. The bamboo planting activity was organized by PODC Community Relations Unit and is part of Pueblo’s commitment to social responsibility.
OF Remittances Rise 8.6% in September; First Nine Months Level at US$12.8 Billion
Remittances from overseas Filipinos (OFs) coursed through banks rose significantly to US$1.4 billion in September 2009, posting a year-on-year increment of 8.6 percent, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. announced today. As a result, cumulative remittances for the nine-month period increased by 4.2 percent to reach US$12.8 billion. Remittances from both sea-based and land-based workers expanded during the first three quarters of this year.
Steady remittance flows were shored up by the continued strong global demand for professional and skilled Filipino workers and the wider access of overseas Filipino workers and their beneficiaries to a broader array of financial products and services. These factors support the optimistic outlook for the sustained growth in remittances through the rest of 2009. The deployment of Filipino workers abroad is anticipated to increase given the continuing hiring arrangements between the Philippines with existing and non-traditional labor markets as well as the forthcoming relocation of U.S. military facilities from Japan to Guam over the course of the next five years. The Department of Labor and Employment (DOLE) had earlier reported that a top-level Guam Senate team visited the country in September this year to finalize details on the hiring of Filipino skilled workers beginning July 2010. The Guam delegation indicated their preference for and intent to hire Filipino engineers, architects, professionals and skilled construction workers.
Meanwhile, the Philippine Overseas Employment Administration (POEA) reported that, as of end-October 2009, total job orders processed reached 226,260, representing 43.9 percent of the jobs needed (515,438). About 80 percent of the total job orders processed was for service and production and transport related workers.
In the near term, remittances could rise even further as the series of strong typhoons that hit the country in September and October could have encouraged larger amounts of transfers from relatives based overseas with a view to assisting their families in their rebuilding efforts.
For the period January-September 2009, the major sources of remittances were the U.S., Canada, Saudi Arabia, U.K., Japan, Singapore, United Arab Emirates, Italy, and Germany. (BSP)
Small banks register improvement
COOP, Rural & Thrift Banks register improved ratios
The Banko Sentral ng Pilipinas (BSP) recently announced that the small bank industries in the country, namely coop, rural and thrift banks, have registered growth and improvd ratios as of end-June 2009.
The NPL ratio of the cooperative banking industry improved by 0.22 percentage point to 8.60 percent from last quarter’s 8.82 percent and by 1.52 percentage points from year ago’s 10.12 percent ratio.
The quarter-on-quarter improvement came about as the 1.17 percent increase in NPLs to P0.86 billion from P0.85 billion was outpaced by the 3.71 percent rise in total loan portfolio (TLP) to P10.02 billion.
In terms of the three main geographical regions, cooperative banks in Luzon area had better NPL ratio at 6.75 percent compared with cooperative banks situated in the Visayas (at 12.36 percent) and Mindanao (at 13.94 percent).
The ratio of restructured loans (RLs), gross to TLP moved up to 2.17 percent from last quarter’s 2.00 percent. The quarter-on-quarter increment came about as RLs, gross grew by 12.26 percent to P0.22 billion.
Real and other properties acquired (ROPA), gross slightly moved up to P0.43 billion from its previous quarter’s level of P0.42 billion. However, with gross assets expanding faster, the ratio of ROPA, gross to gross assets fell to 3.02 percent from 3.08 percent.
The ratio of non-performing assets (NPAs) to gross assets improved to 9.04 percent from last quarter’s 9.35 percent and year ago’s 10.47 percent ratio. The quarter-on-quarter development transpired as the 1.84 percent growth in NPAs to P1.30 billion was outpaced by the expansion in gross assets.
The industry’s loan loss reserves rose by 0.35 percent to P0.49 billion from last quarter’s P0.48 billion. However the NPL coverage ratio narrowed to 56.31 percent from 56.77 percent last quarter as NPLs increased at a faster rate.
Likewise, the NPA coverage ratio of the industry dropped to 38.37 percent from last quarter’s 39.09 percent but was still better than year ago’s 33.48 percent ratio.
Meanwhile, the BSP also reported that as of end-June 2009, the rural banking system posted a non-performing loans (NPL) ratio of 10.75 percent, easing by 0.09 percentage point from previous quarter’s 10.84 percent. However, this ratio was 0.81 percentage point higher than year ago’s 9.94 percent ratio.
The quarter-on-quarter improvement came about as the 1.42 percent increase in NPLs to P10.27 billion from P10.12 billion last quarter was outpaced by the 2.25 percent rise in total loan portfolio (TLP) to P95.49 billion.
Based on the three major geographical regions, rural banks in the Mindanao area exhibited better loan quality at 8.32 percent as against rural banks in Luzon and Visayas which registered NPL ratios of 11.10 percent and 14.63 percent, respectively.
The ratio of restructured loans (RLs), gross to TLP, gross slightly rose to 0.65 percent from 0.62 percent last quarter as the RLs grew by 8.07 percent to P0.63 billion from P0.58 billion last quarter.
Meantime, real and other properties acquired (ROPA), gross remained unchanged from previous quarter’s P7.62 billion. However, with the expansion in gross assets, the ratio of ROPA, gross to gross assets fell to 5.03 percent from 5.24 percent last quarter.
The ratio of non-performing assets (NPAs) to gross assets improved by 0.37 percentage point to 12.23 percent from 11.86 percent last quarter. This development transpired as the 0.81 percent expansion in NPAs to P17.89 billion was outmatched by the rise in gross assets.
Quarter-on-quarter, loan loss reserves rose by 3.65 percent to P3.95 billion. Hence, the NPL coverage ratio widened to 38.46 percent from 37.63 percent last quarter.
Likewise, the NPA coverage ratio expanded by 0.48 percentage point to 24.43 percent from 23.95 percent last quarter. This developed as NPA reserves grew by 2.82 percent to P4.37 billion. This quarter’s NPA coverage ratio was also higher than year ago’s 20.61 percent ratio.
On the other hand, Thrift Banks’ NPL Ratio Eases to 7.47% in Q2 2009, the BSP likewise reported.
As of end-June 2009, the industry’s NPL ratio stood at 7.47 percent, easing by 0.24 percentage point from last quarter’s 7.71 percent yet up by 0.88 percentage point from year ago’s 6.59 percent ratio. The improvement from last quarter came about with the 3.90 percent growth in total loan portfolio (TLP) outweighing the 0.68 percent buildup in non-performing loans (NPLs).
Moreover, the industry was able to sustain a single-digit NPL ratio for the past 17 quarters and pinned it below the pre-crisis ratio of 7.74 percent (as of end-June 1997) for the past 8 quarters.
Exclusive of interbank loans (IBL), the NPL ratio also got better to 7.62 percent from 7.91 percent last quarter as the 4.48 percent growth in core lending to P305.66 billion canceled out the negligible increment in NPLs. Quite the opposite, this quarter’s ratio was higher than year ago’s 7.10 percent as the NPL buildup outpaced the expansion in core lending, i.e., 19.97 percent vs. 11.97 percent.
Restructured loans rose slightly by 3.95 percent to P4.28 billion between March and June. Yet, the proportion of restructured loans (RLs) to TLP at 1.36 percent hardly changed from last quarter’s ratio and even went down from year ago’s 1.57 percent ratio as the loan base grew at almost the same pace.
The ratio of real and other properties acquired (ROPA) over gross assets dropped to 4.31 percent from last quarter’s 4.66 percent. This occurred as ROPA slid by 0.42 percent to P23.42 billion. Likewise, this quarter’s ratio chalked lower by 1.12 percentage points from year ago’s 5.43 percent ratio.
The non-performing assets (NPA) ratio improved to 8.63 percent from last quarter’s 9.29 percent as the meager 0.13 percent increase in NPAs to P46.71 billion was stifled by the ample expansion in gross assets. In addition, this quarter’s ratio was 0.74 percentage point better than year ago’s 9.37 percent ratio.
Meanwhile, the NPL coverage ratio widened to 52.76 percent or by 3.91 percentage points from 48.85 percent last quarter. This stemmed from the 8.74 percent enhancement in loan loss reserves (LLRs) to P12.29 billion. In the same way, this quarter’s NPL cover was wider than year ago’s 49.33 percent ratio.
The NPA coverage ratio improved to 31.00 percent (from 28.94 percent in March 2009) due to the 7.24 percent increase in NPA reserves to P14.48 billion. Likewise, this month’s ratio was comparatively better than year ago’s 26.93 percent ratio. (BSP)
With an eye on profit, Mindanao processors adopt global food safety standards
In response to global market demand, even medium-scale processing companies in Mindanao are now setting up internal systems to conform to international food safety standards and thereby attract more buyers.
Amley Food Corp., Sagrex Food Corp., KF Nutri-Foods International, Inc. and Boom Marine Corp. are four Mindanao companies that recently received their HACCP (Hazard Analysis and Critical Control Point) certification.
“This will open doors for us, since more buyers are requiring processors to have these measures in place, said Hayley Yu, president of Amley Food, which exports dried fruits such as mango, papaya and pineapple to North America, Japan and other countries, under the Island Tropicks brand.
“Buyers are now inspecting processing plants to check on cleanliness and efficiency,” Yu added. “When you’re HACCP-certified, they know that you’ve already taken steps to prevent problems.”
Previously, only the largest companies and multinationals like Dole sought certification in order to meet the phytosanitary requirements of export markets.
The four firms were assisted by USAID’s Growth with Equity in Mindanao to develop the systems and procedures needed for HACCP compliance, and to arrange for the audit by TUV-SUD, Inc., an internationally-recognized third-party certifying agency.
The cost of acquiring certification can run to millions of pesos, depending on the changes each company has to make. These may include renovating or adding buildings, reconfiguring assembly lines, buying equipment, and establishing the requisite documentation and monitoring systems.
Despite the relatively large costs involved, however, the firms believe the investment is well worth it.
“We’ll not only be able to attract more customers through HACCP, we’ll get better prices as well,” said Contessa Factura, quality assurance officer of Boom Marine Corp., which exports aquacullture products to Japan and South Korea from Misamis Oriental.
Mindanao’s export sector is expected to grow as more of its food producers and processors comply with international phytosanitary standards.
The four firms that have just been HACCP-certified buy their raw materials from associations of growers who have consolidated production to create economies of scale, including farming cooperatives composed of former combatants of the Moro National Liberation Front.
As the firms acquire new customers because of HACCP, growers will increase production to keep up with the demand for more raw materials.
This in turn will help create jobs and boost the development of the fruit, vegetable, and high-value aquaculture and mariculture sectors across the region, including conflict-affected areas.
Earlier this year Boom Marine attended the international food show IFEX 2009 with support from GEM, which is implemented under the oversight of the Mindanao Economic Development Council.
Factura noted that a major concern of foreign buyers at the trade show was processors’ ability to comply with basic food safety standards. “It was one of the first things they asked about,” she said.
“This made us decide to seek HACCP certification,” said Factura. “Now that we’ve been accredited, we’re ready to get back to those interested buyers who met with us at IFEX.” GEM

MINDANAO PROCESSORS ACQUIRE HACCP CERTIFICATION Leslie A. Bassett, Deputy Chief of Mission of the U.S. Embassy (4th from right) presented certificates of HACCP compliance to Mindanao food processors accredited by TUV-SUD Philippines, Inc., an internationally recognized certifying firm, at the PHIVIDEC Industrial Estate in Misamis Oriental. Representing the four HACCP-compliant companies are: (l-r) Aldrick Fernandez, assistant marketing manager of KF Nutri Foods International Inc.; Hayley Kathleen Yu, president of Amley Food Corp.; Amy Chua, Amley operations manager; and (to the right of Ms. Bassett) Ferdinand Maranon, president of Sagrex Foods Inc., Contessa Factura, quality assurance officer of Boom Marine Corp., and Wilson Amad, Boom Marine manager. With them are (4th and 5th from left) TUV-SUD marketing manager Haya Amper and Robert Barnes, Economic Growth Advisor of the U.S. Agency for International Development, which helped the four firms to acquire HACCP certification through its Growth with Equity in Mindanao (GEM) Program, implemented under the oversight of MEDCo. GEM
DOST-X Regional Standards and Testing Center Expands its Services
Accelerated shelf-life evaluation and nutrition facts computation are now part of DOST-X’s testing and analysis services. The additional self-life evaluation laboratory is in line with DOST’s thrust of upgrading the facilities and competencies of the regional laboratories.
DOST-X Regional Director Alfonso Alamban said that the added laboratory services is a move by DOST to make Philippine products gain competitive advantage in the international market and at the same time comply with local requirements. Testing of these products by an internationally-recognized laboratory like that of the DOST-X’s assures the consumers that these products are of an international standard.
The DOST-X Standards and Testing Laboratories is the first government regional laboratory in Mindanao and the only one in Region X to be granted the ISO/IEC 17025 accreditation. The accreditation covers quality management system, technical competence traceability and uncertainty of measurements.
At present, the laboratories renders services to industries and public and private companies/entities in the examination of their food products, ingredients in the production of food, environmental samples on food (such as swabs, water or wastewater), and the quality of drinking water, seawater and other recreational waters for bacteria, yeast and molds including the pathogens Salmonella and Staphylococcus aureus, sanitation indices like E. coli and coliforms.
The existence of the DOST-X Standards and Testing Laboratories is of big help to exporters and non-exporters in Northern Mindanao as they would no longer go to Manila or other areas to look for laboratories to examine and certify their products. (Tess Superioridad Baluyos)