Davao homebuyer welcomes Pag-IBIG-SM partnership for bills payment

A Pag-IBIG Fund homebuyer and TV anchor of  National Broadcasting Network Ethel Constantino welcomes the move of the Fund to partner with SM for payment of housing loans saying this gives the member another facility where to pay their loan amortization.

The partnership just started and not many of the homeborrowers yet knew of new development even as Constantino said aside from shopping at SM, they can also pay their obligation like their housing loan at Pag-IBIG Fund promptly.

She said they do not want to miss payment because they also enjoy the privilege of being a “Good Payor” when they pay on time. Pag-IBIG Fund gives two percent discount when loans are paid before the due date.

The Fund has tapped other sectors and private establishments like SM to provide housing loan borrowers other options of wider coverage of the time and days accessing to bills payment facility. Transactions in all SM malls are at longer time from 9:00 am to 7:00 pm daily and even on holidays.

Pag-IBIG Fund however reminds the borrowers that inorder to avoid penalties, payments should be made on or before the due date that is indicated in the monthly billing statement.

Pay your housing loan bills at any SM business center and bring your billing statement/statement of account upon payment. The scheme is accessible and convenient while doing some shopping at SM.

HDMF, developers to offer homes to OFWs

The Home Development Mutual Fund (HDMF), popularly known as Pag-IBIG Fund, launched a scheme that will offer homes to overseas Filipino workers (OFWs) based on their requirements.

Pag-IBIG Fund senior vice president for Provident Fund Operations Ophelia Dela Cerna, during the Southern Mindanao Developers Forum in Davao City, said the program is covered under the Pag-IBIG Home Matching Program (PHMP) for Overseas Filipino Workers.

She said the Fund under its Pag-IBIG Overseas Program (POP) has some 312,000 OFW members spread out in the different parts of the globe even as she admitted that they had difficulty matching the needs of OFWs with existing developers.

“These OFWs do not know the locations of these projects hence the PHMP is a good mechanism to promote housing projects to them,” she said. Dela Cerna said their members are in Europe, Asia Pacific, Rome, London, Netherlands, Middle East. Hong Kong, Singapore and Brunei, just to name a few.

She said with regards to their members in the Middle East comprising 35 percent, these are mostly skilled or construction workers but, in Kuwait, most of them are domestic workers and in other services sector like restaurants and hotels.

In London, she said, are mostly professionals where 65 percent of them are nurses. She said these are big potential market who would invest in housing.

The program is open to both land-based/sea-based OFWs and Filipino immigrants and those naturalized in other countries where Pag-IBIG Fund shall invite developers with exciting Funding Commitment Agreement (FCA) to participate under the PHMP.

The participating developers shall submit basic information of all projects that will be included in the PHMP and both the Fund and the developer shall enter into a Memorandum of Agreement for the implementation of the program.

Among others, the program shall provide OFWs relevant information specific to the projects of the PHMP registered developers, that meet their preferences, based on the following parameters: location, type of unit and affordability level; maintain housing databases and monitor status of accounts/referrals based on reports submitted by the developer; organize housing fairs and participate in activities coordination by Filipino communities abroad; conduct housing loan counseling to prospective member-borrower, etc.

In order for the OFWs to regularly check on housing projects, Dela Cera said a PHMP website has been designed for easy access at www.pagibigfund.gov.ph/hmp. 

my interview with the “relucant leader, accidential hero” of Pag-IBIG Fund

I got the chance to interview personalities and top ranking officials in private corporations and government offices, but i will treasure most my recent (ambush) interview of this “reluctant leader, accidental hero” of Pag-IBIG Fund.

Everytime I learned of his coming to Davao, I and my media friends look forward to interviewing him because Atty. Miro Quimbo is one personality that we could build a cabinet of stories and run them for weeks.  He always has new things to say.  We like him because he is intelligent and articulate and media friendly.

Also a lovable person that girls of all ages would want a photo shoot with him. There was one occasion while we were in an interview that some ladies approached him for a photograph and he obliged himself getting our nod that he be excused for a second just for the foto shoot.

He possesses the features of a celebrity and he is one in his own right although he readily said “that’s good only while you are in the position”. Quimbo is chief executive officer of Pag-IBIG Fund but recent development broke out where the inQ7.net carried a story of his quitting the top position of the Fund.

I was saddened by the news. I got a text from a Manila friend Thursday morning of RSQ quitting the post. But because I was busy with coverages that day first with a presscon at Pag-IBIG Fund Davao office with VP Jose W Banzon Jr. on the new condonation law and at the Medco Office for another presscon with Presidential Adviser on the Peace Process Avelino I. Razon and Medco Usec Virgilio Leyretana, I forgot about the text. 

Earlier on I had to go back to the house to iron the toga of daughter Kim for the pictorial of Ateneo graduating class of 2009.  What made my day horrible also was the sudden transport strike leaving the streets without public utility jeepneys.  All taxis that ply the Bangkal area yesterday were all occupied.

Good thing my couple friends Cesar (of SM) and wife Karen (on event organizing) saw me and very desperate of getting a ride because I could not huggle for one that time because I was already late for the 10am presscon.  I was still on the road at 10:45 am. 

It pays to have lots of friends, and because of Cesar and Karen I was still able to catch up with the first presscon.

At past 12:00 we then moved to the second presscon from Pag-IBIG Fund with Q, Tony A, Peng, Beth and Henry to Medco.  And after taking our lunch after the presscon there, Peng and company dropped us to Bolton at NetExpress where Joy and I wrote our stories.

Ride home was still difficult at 4:00 pm so I decided to take the taxi (at last walang laman) and dropped Joy at NCCC.

I arrived home at almost 5PM. Watched tv while i thaw the fish and meat that i will cook for our dinner.

My husband arrived home at past 5PM and told me about RSQ and that reminded me of the text i got earlier.  I searched the net and found the inQ7.net story.  Atty. Tonette also texted me about this.

And when i read the story … only then i realized it’s real.

During my March 6 interview with him, although very brief, after some clarification of what he said during the Mindanao Housing Forum,  i asked him about his future plans like seeking political seat. He did not answer me on that but Jokingly he said “i will run in the oval”.   And with the big smile he said thank you for the help.  I know these are the stories we write about his Pag-IBIG Fund.

As i writer and with the many occasions that i interviewed him, i believe in his vision and i know he is sincere in his job.

I still look forward to interviewing him even after Pag-IBIG Fund and his next career could be more exciting and that would make our stories about him exciting as well. 

Thanks to JWB jr too for setting the interviews we had with him. 

“Break a leg Sir” … and we pray for you too.

(you can read the article “reluctant leader, accidental hero” at the CEO’s corner at www.pagibigfund.gov.ph)

New condonation law carries good features, could improve housing accounts

The Home Development Mutual Fund or Pag-IBIG Fund is optimistic of attaining improvement in housing accounts with the passage of Republic Act 9507 or An Act To Establish A Socialized Low-Cost Housing Loan Restructuring and Condonation Program.

Pag-IBIG Fund vice president for Southern Mindanao operations Jose W. Banzon, Jr. told Davao reporters that given this new law they see an improvement in their housing loan program even as he said that Southern Mindanao ranked third corporatewide in housing loan performance.

He said of their 12 percent borrowers of the Fund’s 470,000 members in Southern Mindanao, 82 percent are good accounts and only 18 percent in arrears.

 ”We aim to increase our housing borrowers because that is our mandate to provide homes to our members,” he said.

 He said the P400,000 house and lot package has an interest rate of only six percent or a monthly amortization of P2,398.20 while the P700,000 package of seven percent interest rate has a monthly amortization of P3,326.51.

 Meanwhile he said for those with default accounts, the new condonation law could be the last opportunity for them to save their accounts. With the new law, he said there is no processing fee, no downpayment and with full condonation of accumulated penalties/surcharges.

He said there will condonation of portion of accumulated interest. The Pag-IBIG Fund Board still has to meet on March 30 to determine how much rate of interest will be condoned, he said.

 Under the old law or Republic Act 8501 he said there is no condonation of interest rate and it requires processing fee and downpayment. The other features include uncondoned interest is non-interest bearing and shall be paid in equal monthly amortization during the term of the Restructured Loan.

 The interest rate of the Restructured Loan is the original interest rate or 12 percent whichever is lower. Maximum term is 30 years with discount on interest for prompt payment.

Banzon also said that the applicant’s savings/contributions with Pag-IBIG Fund may be used to update his/her loan obligation. Foreclosed accounts covered by the Program provided oone-year redemption period has not yet lapsed.

The Loan Condonation and Restructuring Program or RA 9507 took effect on March 16, 2009 and will be implemented for 18 months (reckoned from March 16, 2009).

 But the Government Financing Institutions (GFIs) has the option to continue the program beyond 18 months. Legal heirs and successors-in-interest can apply for Loan Condonation and Restructuring in lieu of original borrowers.

He said those who have availed themselves of previous penalty condonation and restructuring program are eligible to apply.

Pag-IBIG Fund works on long-haul program

(Photo courtesy of Mr. Edgar Arro of Mindanao Times … thank you)  The Home Development Mutual Fund (HDMF) or Pag-IBIG Fund is working on the long-haul program where it seeks to partner with housing developers in providing housing units to prospective homebuyers who are members of the Fund.

Lawyer Romero Federico S. Quimbo, chief executive officer of Pag-IBIG Fund told developers during the recent Mindanao Housing Forum held in Davao City that in support to the long haul program the Fund has earmarked a bigger loan facility this year amounting to P50.50 billion.

Close to 200 participants joined the Mindanao Housing Forum coming from Regions IX, X, XI, XII and XIII.

Quimbo said that Pag-IBIG Fund has enough money for the program and developers can access the fund depending on the kind of program they would avail.

He stressed however that they want to implement lending program that is sustainable yet find ways to make it easier for the developers to access the funds saying that “we want our business sustainable and your (developers) business sustainable too”.

He told the home builders that they need to meet half-way to develop the housing program and the Fund wants to partner with people who are in for the long haul. They invite private sector to come in and invest as they partner with them in delivering homes to the members.

Quimbo said the Fund does not get any subsidy from government and they are the company that must make money because they need to give back to the members in form of dividends out of the money that they use for programs like housing loan.

“If we do not give back in return, the members would think that we are only using their money. We need to give something back to them who are funding the loans to developers,” he said.

He reminded developers that it is the Fund members’ money that they are using through the development loans and Pag-IBIG Fund needs to take care of their fund that is why they see to it that guidelines are followed.

He said out of the 7.5 millon members of the Fund only 10 percent avail of housing loans while the remaining 90 percent has not availed of the program yet contributes to the funds housing loan program.

The housing loan window this year is 53 percent higher than in 2008 of only P34.03 billion. The 2009 will have P43 billion for end-users loan and P7 billion for institutional loan.

He said for a period of ten years the housing loan program allocation in 2001 was only at P3.82 billion followed by P5.40 billion in 2002, P9.32 billion in 2004, P15.30 billion in 2005, P16.10 billion, 2006, and P22.59 billion in 2007.

Quimbo said despite the increased growth they maintain the same budget in 2007 and 2008 of 5 percent as against their revenue of 45 percent.

He said the growth for the past years was at P1.3 billion, but it was only last year they were able to hit P38 billion.

Pag-IBIG Fund to launch Info System Programs

The Home Development Mutural Fund (HDMF) or Pag-IBIG Fund is working on its Integrated Information System Program (IISPP) project as it continuosly seek to improve its services to members and partners.   Pag-IBIG Fund chief executive officer Atty. Romero F S Quimbo made the announcement during the recent Mindanao Housing Forum held in Davao City where close to 200 participants joined coming from Regions IX, X, XI, XII and XIII.  The forum was also attended by the Fund’s managers in Mindanao.   Quimbo said they never stop working on strategies inorder to make the Fund become responsive to the needs of the stakeholders.   The IISP is a system the Fund will implement where relevant data could be accessed at the shortest time possible.   He said the moment IISP becomes operational the membership service verifiication slip (MSVS) which is a requirement for housing loan application could be generated in few seconds to determine whether the applicant is qualified to borrow or not.   Given this, it would also provide developer faster processing time in terms of take out as it allows the Fund to come up with a better system, he said.   He said when data is available it will also help developer locate and find potential markets even as he said that partnership will be forged with developers in creating a data base that would help them locate areas where there is a need.   He said this is one thing that the Fund is trying to develop inorder for them to target individuals who need homes.   Right now he said only 10 percent of the 7.5 million members of Pag-IBIG Fund access the housing loan program.   But he said they had been reaching out to members to avail of the program saying that Pag-IBIG Fund has been created for the long haul program or the housing loan program.   The Fund has been sustaining its program and Quimbo said that for 2009 some P50.50 billion has been earmarked for housing loan.   Quimbo who assured developers that funds is ready for housing projects said they would deal with developers who are resourceful and those whose businesses are gaining even as he encouraged them to avail of the opportunity where they could build more homes by tapping house loan window through institutional loan with Pag-IBIG Fund.   He emphasized however that Pag-IBIG Fund is implementing lending program that is sustainable and as far as their relationship with the developers are concerned they make sure that the program is sustainable.   The Fund has in its menu of Institutional Loans nine types of loan windows that developers could choose from.   Pag-IBIG Fund vice president for southern Mindanao operations Jose W. Banzon, Jr. said these loan facilities include Development Loan Program, LGU-Development Loan, Credit Facility, Pag-IBIG City, Medium/High Rise Building, Housing Receivables Financing Facility, Home Construction Financing Line.   He said for the Southern Mindanao area alone they already had financed a total of 91 projects.  74 of these projects were fully paid, eight are current projects while nine in default.   He said their success rate for institutional loans to developers is at 90.11 percent for the P2.119 billion loan facility since it started giving out loans to developer where total units built accounted to 24,119 spread out in their area of coverage.   Meanwhile both Pag-IBIG Fund deputy chief executives Jaime A. Fabiana and Tessie M. Gonzales told developers during the open forum that they will continue to study areas where it will be more easier for the developers to implement projects by accessing financing with the Fund just like the case of reducing the processing time of take out and the release of notice of approval.

Next Week’s Event in Davao City

Mindanao Developer’s Forum sponsored by Pag-IBIG Fund this March. Updates will be posted soon … watch  for it.

Today’s Report — VP Noli de Castro announces new cut in Pag-IBIG housing loan interest rates

Vice President Noli “Kabayan” De Castro announced another adjustment in Pag-IBIG Fund housing loan interest rates, making the monthly amortizations for its most popular loan package even more affordable.

The interest rate for loans up to P400,000 has been reduced from 7% to only 6% per annum. Interest rate for loans worth over P400,000 up to P750,000 is 7%, and 10.5% for loans over P750,000 up to P2 million.

As a result of this rate cut, the monthly payment for principal and interest for a P400,000 loan will go down from P2,661.21 to P2,398.20 at the maximum payment period of 30 years.

The Vice President said the bulk of housing loans taken out by Pag-IBIG are those worth P400,000 and under. “The market for Pag-IBIG loans are mostly the low income earners, so this latest interest rate adjustment will benefit them,” he said.

“In these difficult times, we want more Pag-IBIG members to have home ownership as an affordable option to renting,” he added.

De Castro added that the rate reduction dovetails with the Fund’s commitment to allocate P82 billion for housing and multi-purpose loans this year as its contribution to the government’s economic stimulus package. “With this, we hope to attract more borrowers.

This will help keep the housing market vibrant, generate business activity in related industries, and create much-needed jobs for our workers,” he said.

In support of the Fund’s higher allocation for shelter financing, De Castro has directed the Pag-IBIG Fund to review its housing loan application process and find ways to further streamline it.

De Castro also assured members that Pag-IBIG will continue to invest at least 70% of its investible funds in housing even with the Fund’s charter change.

This is in reference to the recently approved Senate Bill that aims to strengthen the Pag-IBIG Fund by amending its charter to restore its exemption from income taxes and to empower its Board of Trustees to adjust contribution rates, among other things. “Housing will continue to be Pag-IBIG’s core service to its members, and its main contribution to our country’s economic growth,” he said.

Source : www.pag-ibigfund.gov.ph

Today’s Report – Housing Czar pushes for Pag-IBIG’s 70% investment in housing.

Vice President and concurrent Housing and Urban Development Coordinating Council (HUDCC) chairman Noli ‘Kabayan’ de Castro thanked the two Houses of Congress for pushing the amendments in the Charter of the Home Development Mutual Fund (HDMF) or Pag-IBIG Fund.

The Charter amendments seek to strengthen not only the Pag-IBIG Fund but the entire housing sector as well. He noted that the draft bills approved by the two Houses of Congress would restore the tax-exempt privilege of the Fund and authorize the board to set the contribution rates of members resulting in additional funds for the benefit of Pag-IBIG members.

However, De Castro objected to the deletion of the provision in the Pag-IBIG Fund’s existing Charter stating it should “invest not less than 70% of its investible fund to housing.” “Housing is one sector with a big multiplier effect on the economy.

Every P1 million invested in housing translates to P16.6 million of economic activity in the country. At this time of the global financial crisis, we need to put our funds on industries that would stimulate the economy and create more jobs for our people,” De Castro said.

He urged Congress to restore the said provision to realize the prospective law’s objectives of providing the Filipino citizens with sufficient shelter through the mobilization of funds for shelter finance.

De Castro’s call for the restoration of the above provision is consistent with his recent announcement that the Pag-IBIG Fund is putting in at least P82 billion as part of the stimulus package being worked out by the Arroyo Administration. Of this amount, 70% or about P57.4 billion would be invested in housing. (from the newsroom of Pag-IBIG Fund website)

how to become a member of Pag-IBIG Fund

MEMBERSHIP PROCEDURES AND REQUIREMENTS

I. FOR WORKERS WITH REGULAR EMPLOYMENT

Persuant to Republic Act 7742 which was fully implemented on January 1, 1995, membership to the Pag-IBIG Fund shall be mandatory for all employees covered by the Social Security System (SSS) and/or the Government Service Insurance System (GSIS) and who are earning at least P4,000.00 a month. This mandatory coverage is also extended to expatriates whose age is up to 60 years old and who are compulsorily covered by the SSS. In the absence of an explicit exemption from SSS coverage the said expatriate, upon assumption of office, shall be compulsorily covered by the Fund.

Membership for employees who are earning less than P4,000 a month, including those who belong to other working groups shall be on a voluntary basis.

Procedures on the Registration of Employers and it’s employees

1. Proceed to the Marketing and Enforcement Division of the concerned branch and request for a copy of the Membership Registration/Remittance Form (MRRF) [FPF060].

1. Accomplish and submit two (2) copies of the MRRF together with the following supporting documents to the Marketing and Enforcement Division:

Members Data Form (MDF) of the employees Certificate of SSS Coverage and Compliance (for the current year), if private employer GSIS Certificate of Membership, if government employer

For Sole Proprietorship DTI Registration Mayor’s Permit/ Business Permit For Partnership/Corporation SEC Registration Articles of Partnership/Incorporation and By-laws Notes: The original copy of the documents shall be presented for authentication. Upon submission of complete documents, the Marketing and Enforcement Division shall issue the Payment Order Form (POF).

1. Proceed to the Cash and Administrative Services Division and pay the 1st monthly membership contributions (MC).
2. Upon payment, present the Pag-IBIG Fund Receipt (PFR) to the Marketing and Enforcement Division.

Notes:

1. The succeeding remittances shall depend on the following schedule:

First Letter of Company Name	Remittance Schedule
A – D	10th to the 14th day of the month
E – L	15th to the 19th day of the month
M – Q	20th to the 24th day of the month
R – Z	25th to the end of the month

1. For the succeeding remittances, the MRRF may be submitted in diskette.

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Procedure of registration for first-time member-companies:

1. Accomplish two copies of the Membership Registration/Remittance Form (M1-1).
2. Prepare the following documents (2 photocopies):
   • SEC registration or the company’s DTI and SSS registration
   • R3 and R1A forms (SSS registration and remittance forms)
3. Present all documents (M1-1, registration and SSS forms) to the Marketing Division of the concerned Pag-IBIG branch office for verification (bring all originals for authentication). Secure referral slip from Marketing staff.
4. Proceed to the office’s Cash Division for payment of first monthly remittance.
5. Submit the “referral slip” prepared by the Marketing staff and all verified documents to the cashier.
6. Succeeding remittance date shall depend on the schedule of payment of the office (see below). Accomplished M1-1 shall serve as the remittance form for succeeding payments.
7. Submit to the Marketing office 2 copies of the accomplished Member’s Data Forms (MDF) of all qualified employees to the Marketing Division on the second month after the first payment of contributions.
8. The names of newly-hired employees that are covered by RA 7742 should be included in the accomplished M1-1 form and their corresponding contributions duly remitted to the Fund. The accomplished MDF of the new employees shall be submitted on the following month.

Schedule of Payments for Company-Members

First Letter of Company Name		Remittance Schedule
A-D		10th to the 14th day of the month
E-L		15th to the 19th day of the month
M-Q		20th to the 24th day of the month
R-Z		25th to the end of the month

–>II. INDIVIDUAL-PAYORS/VOLUNTARY MEMBERS

Employees who are not regularly employed and who belong to other working groups can join the Pag-IBIG Fund on a voluntary basis.

How to join Pag-IBIG:

1. Accomplished and submit two (2) copies of the MDF and all required supporting documents to the Marketing and Enforcement Division of the concerned Pag-IBIG branch office (bring all originals for authentication)
2. Secure Payment Order Form (POF) from Marketing and Enforcement Division and proceed to the Cash Division for payment of initial membership contributions (MC)
3. Present all verified/stamped documents to the Marketing and Enforcement Division.
4. Secure Payment Order Form before proceeding to Cash Division for payment of contribution

REQUIREMENTS FOR INDIVIDUAL PAYORS (IP)

SELF-PAYING (WAIVED COMPANY)

• Certificate of Employment & Compensation
• Latest Payslip
• Company ID

SELF-EMPLOYED

• Latest ITR

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• Latest Income Tax Return (ITR) with Financial Statement of the previous year certified by a CPA
• Certificate of Remittance/ESAV (for old members)
• Two 1×1 ID pictures
• SEC or DTI Registration (should be under the member’s name)
• Business Permit or Mayor’s Permit

–>

<!–OPERATORS OR FRANCHISE HOLDERS

• Franchise Permit (under the member’s name)
• Official Receipt or Car Registration (under member’s name)
• Latest ITR (previous year)
• Two 1×1 ID pictures

–> <!–

• Certificate of Remittance or ESAV
• Two ID pictures

–>OVERSEAS FILIPINO WORKER (OFW) (For Reactivating Members only)

• Latest Contract of Employment
• Passport or any valid ID<!–
• Latest and valid Contract of Employment (with POEA original stamp)
• Certificate of Remittance or ESAV
• Passport or any Valid ID/POEA license
• Two 1×1 ID pictures
• Special Power of Attorney (SPA), in case a representative shall submit the documents and pay the member’s contributions

–>

<!–SELF-EMPLOYED PROFESSIONALS

• PRC/BAR License
• Latest ITR (previous year)
• Certificate of Remittance or ESAV (for old members)
• Two 1×1 ID pictures

–>UNEMPLOYED SPOUSE (For Non-Working Spouse)

• Written consent from member-working spouse
• Certificate of Employment and Compensation of member-working spouse
• Affidavit of Unemployment

For member-spouse with business:

• Latest ITR <!–
• Written consent from member-employed/working spouse
• Certificate of Employment and Compensation of member-working spouse (notarized)
• Affidavit of Unemployment
• Two 1×1 ID pictures
• If member-spouse has own business

• Latest ITR (previous year)
• Business Permit or Mayor’s Permit
• SEC or DTI Registration

Monthly contributions of unemployed members (reactivating or non-working spouse) shall be P100.00

The unemployed member has the option to upgrade his monthly contributions, but may not downgrade the amount

Unemployed members may avail of the Multi-Purpose Loan but not a housing loan from Pag-IBIG

Individual payors or voluntary members have the option to choose their terms of payment, e.g monthly, bi-monthly, quarterly, etc.

–>

UNEMPLOYED (For Reactivating Members only)

• Affidavit of Unemployment

Pag-IBIG extension office @ the mall …

   

Accessible and convenient, Pag-IBIG members of South Cotabato and Sultan Kudarat have better way of transacting business because services are brought to them while doing other transactions in the mall.

The only mall-basedin the south, Pag-IBIG Fund Southern Mindanao opened its newest extension office last January in Koronadal City.

The Pag-IBIG Fund Extension Office of Koronadal City is housed at Fitmart Mall in Marbel, Koronadal City and accepts among others payment of multi-purpose loans and housing loans.  It will also conduct housing loan seminar.  Schedule of the seminar is still being worked out.

The extension office is under the care of Manager Rodrigo Suemith.

Leading the inauguration ceremony were Governor Daisy Avance-Fuentes, Deputy Chief Executive Officer for Operations Tess Gonzales,  Vice President for Southern Mindanao Group Jose W. Banzon, Jr. together with other officers and staff of Pag-IBIG Fund other officials of private and government offices while Fr. Bonifacio Ampayas officiated the blessing of the new office.

We are sharing you some pictures provided by Pag-IBIG Fund General Santos City …. thanks ayengonzales and company   

 

Davao City sees new businesses for 2009

An increase in new businesses in Davao City is expected this year to about 10 percent higher than the total businesses registered last year.

Business bureau chief Atty. Johpee Agustin said they were able to served about 32,000 businesses in 2008 both for new registrants and renewal of business permits and they expect new businesses coming in.

She said they are optimistic of the business trend in the city even as she said that they will continue to come up with new strategies so Davao City would generate more revenues.

She noted that on the first week of January this year they already received 14,739 applications for renewal and about 170 for new registration.

On a daily basis she said they receive some 2,000 to 5,000 applications and inorder to fast track the issuance of permits they came up with a scheme where the applicants after complying basic requirements are given temporary authority to operate (TAO).  But this will not apply to those businesses that needs detailed requirements like detailed permits, etc.

She said once the TAO is issued the investor can proceed and they still have to comply the other steps as required by other regulatory bodies.

She said the strategy enticed other busnesses to come to the city and with proper education and awareness they also noticed that businesses are religiously complying with the requirements compared to their previous years operation.

Meanwhile Agustin said that with their successful implementation of collecting occupational permit fee (OPF) where it gave Davao City some P6 million in revenues last year, they will be implementing the Special Mayor’s Permit Fee (SMPF) this year.

The OPF in 2007 only had a collection of P3 million while  P1.9 million in 2006, she said.

For the SMPF she said they will start to collect fees on all activities that will be conducted in the city.

She said this scheme is also provided in the Local Government Code and they will be implementing such inorder to make use of whatever is allowed by law for the benefit of the people of Davao City.

Meanwhile Davao City Treasurer Rodrigo Riola said their target income this year is pegged at P548 million and 60 percent of this will be taken from business taxes.

He said based on their experienced 60 percent of this collection will be realized by the first quarter of the year and of the fees the real property tax contributes about  60 percent of the total revenue generated.

He said most of the real property owners pay their taxes on the first quarter of the year because of the 20 percent discount.

Riola also said that Manila-based companies or those from other areas that operate businesses in Davao City are already paying their taxes here.

He said consultation and dialogue with these businesses made them understand that they need to share their income to Davao City considering that they engage business here.

Davao City got highest in new registered corporations/partnerships in Mindanao area for 2008

Davao City raked in the highest number of new registered corporations and partnership that were served by the Securities and Exchange Commission Davao extension office in 2008.

SEC Davao head Atty. Javey Francisco said the city cornered 314 new businesses of the 464 corporations that registered with their office last year around Mindanao.

General Santos City followed next with 36 then Tagum City with 18. Fourth in the row were Mati City, Koronadal City and South Cotabato with nine new registered corporations each.

Cotabato City ranked fifth with eignt while Davao del Norte on the seventh with six. Panabo City and Digos City came next with six new registered corporations and partnerships. Davaod del Sur had five while Davao Oriental, Surigao del Sur and Mati City with four each and Agusan del Sur, 3.

The Compostela Valley Province and the cities of Malaybalay, Bislig andButuan had two each. Only one new corporations registered in the Island Garden City of Samal, North Cotabato, Lanao del Sur, Surigao City, Midsayap and Cagayan de Oro City.

Francisco said the 464 corporations had a paid-up capital of P215.4 million which came lower by 38 percent or P134 million compared to the P349.8 million in 2007. He said of the new corporations last year, Davao City’s businesses for paid-up capital accounted to P124.6 million while General Santos City at P27.4 million and Tagum City, P21.5 million.

Meanwhile Francisco said with regards to foreign direct investments (FDI) of 80 new businesses with paid up capital of P15.177 million, Davao City still got high with 67 corporation and paid up capital of P11.4 million. General Santos City had 3 of P1.1 million, Davao Oriental, 2, P1.036 million, Koronadal City, 2, P1.250 million.

He said according to nationalities, the Chinese top the list followed by Korean and Dutch.

“Isang Pag-IBIG, Isang Pamilya”

This is the focus of Pag-IBIG Fund as it  celebrates the 28th year founding anniversary.

The Pag-IBIG Fund or the Home Development Mutual Fund (HDMF) celebrates its 28th year as one “Big Happy Pag-IBIG Family”.

Vice President for Southern Mindanao Jose W. Banzon, Jr. in his message during the Family Day on Sunday, December 14 at the SM City Event Center said that Pag-IBIG in itself is a big happy family as he stressed that every employee of the Fund help one another and support each other collectively.

“Each one of us belong to the Fund family and we must have in our desire to help and assist the members of this family,” he said.

The family always look up to its upliftment and well being and each one share common values, he said.

Families may differ in their values he said either centering their direction to God while others on material acquisition, characrer building or the making of good citizens.

But as member of the Pag-IBIG Fund family he said everybody is expected to adhere to the Fund’s core value of SPICE G meaning Service, Professionalism, Intergrity, Commitment, Excellence, Growth.

He said imbibing such core values, they can as a family respond effectively and deliver good service to the Fund members.

“If the employees think that they belong to the Pag-IBIG family, the Fund’s success will also be their success,” he said.

He urged the employees to see to it that Pag-IBIG Fund fulfills its commitment and achieve its objective.

He said ahead of them are lots of challenges but working as one they could hurdle any challenge.

Meanwhile Banzon said that as Pag-IBIG Fund turns 28 this year, there are lots of reasons to celebrate.

He said 2008 saw the expansion of the Fund, as more branches opened both within the country and overseas. The membership base continues to grow and the membership services continue to improve.

“Pag-IBIG Fund is growing. Our family is growing,” he said.

However, let it be said that amidst our growth, we remain rooted to our mandates, we stay connected to each other, we are one big happy family, Banzon added.

He said Pag-IBIG Fund may be situated in different locations – from the headquarters, to the regions, to overseas – but no distance could distinguish them from one another when it comes to their ideals in public service.

“Ours is a collective style of public service, as we work together for the benefit of our members, the true owners of the Fund,” he said.

With this year’s theme “Isang Pag-IBIG, Isang Pamilya”, the Fund aside from holding the Family Day, put up exhibits showcasing the gains of Pag-IBIG and capped the 28th year founding anniversary celebration by honoring outstanding employers whose employees are members of the Fund. The outstanding employees of Pag-IBIG Fund were also given recognition during the culmination activity held at the Fund’s headquarter at the Atrium, Makati City.

Pag-IBIG Fund Family Day in December @ SM

Both young and the young ones had fun in celebrating family day instead of the traditional Christmas party of employees.   Kids also were smart to answer trivia questions all about Pag-IBIG Fund with questions ranging from the date of the creation of the Fund to what does Pag-IBIG stands for and who are the officers of the Fund.  Names that children readily answered were RSQ, Sir JAF, Sir Joe, Sir Bong.  For the names  their  answers were marked wrong because the quizmaster would accept only the correct and complete name. I guess parents have to double time so the kids could answer correctly the trivia questions on the next Family Day. VP Jose W. Banzon, Jr. was given a surprise tribute by  the Pag-IBIG Fund Family of Davao headed by Manager Manolito Olegario for his December 14 birthday  while daughter Kim  shared messages for his Dad.  Sharing you some  photos taken during the  Pag-IBIG Fund  Family Day at the Event Center  of  SM City Davao …

Pag-IBIG @ 28

Pag-IBIG Fund getting stroger, growing bigger @ 28

Photo shows Pag-IBIG Fund vice presidents (right) Jose W. Banzon, Jr for Southern Mindanao and (center) Ophelia dela Cerna for Northern Mindanao with Davao branch manager Manolito O. Olegario during the opening of exhibit at the Pryce Tower Business Park in Davao City.   The exhibit features the highlights of the Fund’s accomplishments since it  was established in (December 14) 1988 to 2008.

Real estate sector sees bright prospects in Davao

Despite the economic slowdown in the global market, a major real estate player is anticipating bright prospects in Davao next year.

Maryline Lim, general manager of Samantha Homes said there is a large housing need in Davao City saying that the company is targeting the medium level market.

She said the newest Samantha Homes project is at Bago Gallera where they enrolled as Pag-IBIG City of over 800 units. The site she said will include playground and multi-purpose hall that will later be turned over to the homeowners association.

She said their company caters to employees, the overseas Filipino workers and the self-employed.

The subdivision features include water facility sourced out from the Davao City Water District, an overhead transmission lines provided by the Davao Light and Power Company, underground drainage and concrete roads with curbs and gutter.

But Lim said they don’t just build houses because they see to it that they would also introduce some new designs in their projects.

In the pipeline next year she said is the 400 units project in Panabo City.

All in all she said to include the new projects, Samantha Homes house and lot units accounted to 3,120.

Their other projects are found in Matina Aplaya, Barangay Lizada in Toril, Paligue in Padada, Davao del Sur, Catalunan Pequeno, Catalunan Grande.

Lim said they are careful with the supervision of the project because of the “buy back” policy ofPag-IBIG Fund.

She said Pag-IBIG Fund for that matter pay particular attention to project development including the first years of repayments of homebuyers.

She said they do not want also to be remiss of their responsibilities saying that they need to comply what has agreed between them and Pag-IBIG Fund.

“What Pag-IBIG Fund had invested are the funds of the members and we make good of our investment because these are money of the Fund members,” she said.

Lim however stressed that they reach out to their homebuyers in order for them to make good of their repayment record.

She said with the reduced interest rates extended by the Pag-IBIG Fund the rebate extended to homebuyers who are “good payors,” now owning a house is very affordable.

Meanwhile Davao City Investment and Promotion Center head Engr. Roberto Teo expressed good prospects for real estate in 2009.

Teo in a separate interview said real estate will continue to pick up in Davao City next year.

He said a new subdivision project with investment of P120 million will commence next year.

He also said that constructions of two the big investments on real property are on-going while developers of new condominium projects have already shown keen interest for new construction here. These are in addition to the DMCI condominium and that of the Filinvest development

Pag-IBIG SouthMin posts collection growth

In photo with Mr. Banzon were editors and reporters from Business World, Philippine Daily Inquirer, Philippine Information Agency, Philippine News Agency, Mindanao Daily Mirror, Mindanao Times, SunStar Davao and The Edge

Pag-IBIG Fund of the Southern Mindanao Group has posted a P4.486 billion collections for the first nine months in 2008.

Vice President Jose W. Banzon, Jr. of Pag-IBIG Fund Southern Mindanao Group in an interview by Davao business reporters at Pryce Tower in Davao City said the Short-term Loan (STL) is biggest of the four anchor programs with P2.343 billion.

He said of the other three programs, members’ contribution followed next with P882.6 million, housing loan at P868.7 million and acquired assets collections at P391.7 million.

Based on annualized collections, he said the Southern Mindanao Group would generate about P5.982 billion as against the target of P5.556 billion, an increase of 10.48 percent.

Banzon also said that from among the four branches of the Group, the Davao branch tops the list with total collections generated within the period in review of P1.869 billion. The General Santos City branch ranks second with P923.623 million, Tagum, P866.030 million and the Cotabato branch with P827.16 million.

Also of the four major programs he mentioned that the Short-term Loan Availment is the most sought after services being accessed by Pag-IBIG members.

He said their total exposure of P2.538 billion is accessed by 168,110 members.

“This program is top gainer because they were able to institutionalize the fast phase of processing of loans,” he said.

“Fund members are interested on this because they find it very convenient. Within a day or two, borrowers can already have their loans processed,” he said.

Based on annualized figure this year, he said their total loan amount is at P3.384 billion that will be accessed by 224,147 members.

He said figures would show that 36 percent of the Pag-IBIG Fund members availed of the STL, a figure that only the Fund from among other similar institute could deliver.

The Southern Mindanao Group is expected to give out total STL loan for 2008 of P2.637 billion to about 166,974.

Current figure showed that the Group will hit towards end of 2008 128.30 percent of the loanable amount and about 134.24 percent increase of the Fund’s borrowers.

Banzon also said that the Southern Mindanao Group has a total of 472,638 active members as of September 2008 as against this year’s target of 465,696 registering an increase of 101.49 percent.

The Davao branch accounted to 196,259, Tagum, 88,452, General Santos, 103,523 and Cotabato 84,404.

Halloween Trick or Treat @ Pag-IBIG Fund

Huling Hirit from Cotabato Branch …. (save the best for last) …. they’re not disturb by any conflict as they make peace to everyone including the ghosts and here they are with their costume parade … (thanks Liz for the photos buti na lang may friendster … tnk u !)

Halloween Trick or Treat @ Pag-IBIG Fund

Presenting the Tagum City Branch …. (Thanks for the fotos Bam !)