The Sky Line at SM City Clark
Spectacular fireworks light up the sky to celebrate the opening of the Sky Line, a 9,000 square meter elevated connector at the north edge of SM City Clark. Inspired by New York’s iconic Highline, it will give shoppers a brand-new state-of- the-art urban experience as a vibrant location for performances, retail, restaurants, park-like oases, and cutting-edge art.
SSS earns P28B in 2021, reports net loss due to new accounting standards
The Social Security System (SSS) registered earnings of P28 billion in 2021 from its operations, with contributions and investment income exceeding benefit payments and operating expenses.
In its 2021 unaudited financial statement, its cash inflows of P262 billion surpassed its cash outflows of P234 billion.
In the last six years, SSS recorded cumulative earnings of P202 billion, even with a record-breaking P1.1 trillion benefit payments and P254 billion loan releases to its members and pensioners.
SSS’ adoption of the Philippine Financial Reporting Standards (PFRS) 4, which recognizes Social Benefit Liabilities (SBLs) and the Margin for Adverse Deviation (MfAD), resulted in an increase in policy reserves of P872 billion that contributed to the accounting net loss of nearly P844 billion for 2021.
“We want to clarify that the increase in policy reserves is not actual cash coming from the fund in 2021. These are simply estimates of the required reserves to fund future benefit claims,” SSS President and CEO Michael G. Regino said, adding that “We assure our stakeholders that this does not affect our current cash flows and we remain financially viable in terms of providing benefits to our members,” he added.
Notably, the SSS’ fund life is estimated to last until 2054. The estimated fund life of the social security institutions of other ASEAN countries such as Vietnam and Thailand are until 2027 and 2054, respectively, while the United States Social Security Administration fund is expected to last only until 2034.
Regino said that SSS is always open to dialogues with policymakers, which can be a platform to help the pension fund’s stakeholders understand the current accounting standard it follows for the reporting of its financial performance.
PRIDE: a decade of fashion
Pride – a Decade of Fashion, The Don Cristobal Runway Show Season 10 will be held on June 11, 6:00PM at the Grand Ballroom Crowne Plaza Manila Galleria, Ortigas Center, Quezon City, in celebration of the indomitable Filipino spirit/Philippine Independence, the vibrant LGBTQ+ Community Pride Month, and a decade anniversary celebration of Don Cristobal in the Fashion Industry.
The event will be presented by Team DC Manila Productions, Crowne Plaza Manila Galleria, SunSmart Solar Power Technology Inc., Scene Zone Magazine, Aphrodite Aesthetics Skincare and Medical Clinic. Featuring the collections of our renowned and established names together with the next game-changers of the Philippine Fashion: Anna Fuentes Ligaya, Cathy Capistrano, Chico Estiva, Don Cristobal, Juliedan Vergara, Juvy Fantilanan, Kristoffer Tabili, Mikael Mc Castillo, Patty Valle
Roberth Gallardo, Shiela Fairytutu.
Featured brands/groups include Aphrodite, Bella Don, DAX Apparel, DC Models, Modelo Icon, Shopawhowlique by Adrian Stephen Cabuhat, SunSmart Solar Power Technology Inc., White Lily
Team BRB Models. The event will be hosted by Angelee Delos Reyes and Directed by Raymund Ramirez Seranillo, in partnership with Mplify – Consultancy, Public Relations, & Marketing Services, Holiday Inn Manila Galleria, HASH (HIV & AIDS SUPPORT HOUSE), Doc Rob Chiropractic Wellness Clinic, MUM (Make-Up Madness), Grace Flowers Event Stylist, Karisma ni Maria, Bioessence – Caring Beyond Beauty, Anthologie DAX Apparel, Make-Up Reborn, Malaya, VLE (Viva La Events), Orquiza Eye Care Clinic, 7 Folds Laundry Acquasuisse Parfums and Strip It! – Hair Removal Sugaring
Official Media Partners are Malaya Business Insight, The Manila Times, Daily Tribune, IBC 13, GNN (Golden Nation Network), Tsismaxxx, The Village Connect Magazine, Brands Asia Channel, Nuance Magazine, Oxin Films, City Studio, Animal Scene, FAB Manila, Litrato Philippines, DZRJ 810AM Radyo Bandido, Stylish Magazine, QCPC (Quezon City Photo Club), Critical Beauty Philippines, Eventologie, FAB Philippines, Agimat, ENP (Entertainment News Portal), Aspire Magazine Global, Pageantry Fanatics
For tickets reservation, contact MplifyPh on FB or call/text 09177251030.
Monde Nissin’s Quorn®, in partnership with Q Kitchen, provided meat-free meals for the PPCRV following the 2022 Presidential Elections.
Monde Nissin’s Quorn provided for a Meat-Free Monday during the 2022 Presidential Elections Unofficial Parallel Count last May 9.
In partnership with Q Kitchen, bags of Quorn®meals were provided to Parish Pastoral Council for Responsible Voting (PPCRV) volunteers at the UST Quadricentennial Pavilion through donations of different dishes for a whole day event. Meat-Free Mondays is a growing worldwide practice supported by Quorn with its eco-friendly meat substitutes that are tasty, nutritious and sustainably produced.
Handog Pag-Asa sa mga Kabataan
As part of its programs to enrich the lives of Filipinos, Security Bank Corp. collaborated with the Bankers Institute of the Philippines (BAIPHIL) to help school children in Cabongaoan Elementary School, Iliq-Iliq, Burgos, Pangasinan through the Handog Pag-Asa sa mga Kabataan program.
Through this initiative, Security Bank provided computer sets and a printer to the elementary school, complementing the other school and sports equipment donated by BAIPHIL to the community.
“We’re humbled to have contributed in some way to BAIPHIL’s initiative to help students in Burgos, Pangasinan. Our #BetterBanking commitment to service delivery is anchored on our mission to enrich lives, empower businesses, and build communities. Security Bank takes this mission to heart and continuously strives to be a meaningful partner to the communities where we operate,” says Tanya Deakin, Vice-President and Head of Corporate Communications and Brand Division at Security Bank.
Since its founding in 1951, Security Bank has been committed to enrich the lives of Filipinos through the continued building of communities in various areas across the Philippines. In 2020, in the midst of a global pandemic, the bank ramped up its CSR initiatives through the launch of the #GetBetter campaign to help Filipinos recover from the effects of COVID-19.
Globe Group hauls 3 gold, 1 silver, 3 bronze in 2022 Asia-Pacific Stevie® Awards
The Globe Group has bagged seven awards at the 2022 Asia-Pacific Stevie® Awards, reflecting its commitment to innovation, growth, and community service.
Globe Business Enterprise Group won the Gold Stevie for Innovation in Branded Entertainment Videos through its Project Eagle 2021 Thematic Video. The Globe Business MSME Group also took two Bronze awards for Innovation in Brand Development with Saludo SMEs 2021 – Tuloy Tayo! and Innovation in Content Marketing / Branded Editorial with the Gift Local “Buy Once Give Twice” Campaign.
Sa Globe Rewards, Atin ang #GDayEveryday (With Globe Rewards, we can make every day a G Day) also received a Bronze award for Innovation in Community Relations or Public Service in helping customers.
The Asticom Group of Companies, a Globe affiliate, also won three Stevie awards, two golds for Innovation in Human Resource Management, Planning & Practice, and Innovative Use of Technology in Human Resources; and a Silver for Innovative Achievement in Growth for launching three new subsidiaries and acquiring another.
The Globe Group competed with more than 900 nominations for innovative achievements in the 29-nation Asia Pacific region.
The Stevie Awards are widely considered the world’s premier business awards, conferring recognition for achievement in the workplace over the past 20 years in programs such as The International Business Awards® and The American Business Awards®.
Gold, Silver, and Bronze Stevie Award winners were determined by the average scores of more than 100 executives worldwide acting as judges in March and April.
Aside from the Philippines, the 2022 Asia-Pacific Stevie Awards recognized organizations in markets including Australia, Belarus, Cambodia, Mainland China, Hong Kong, Macao, Germany, India, Indonesia, Japan, Malaysia, Maldives, Nigeria, Singapore, Sri Lanka, South Korea, Taiwan, Thailand, the United Arab Emirates, the United States, and Vietnam.
Jean Henri Lhuillier, president and CEO of micro financial services giant Cebuana Lhuillier, was recently named as a “Master Innovator for 2022” by the Mansmith Innovation Awards, an award-giving body organized by Mansmith & Fielders, the country’s leading training and consultancy company.
Lhuillier was cited for revolutionizing the face of micro insurance in the Philippines—thanks to his ground-breaking work in making micro insurance more relevant in the lives of Filipinos.
Cebuana Lhuillier captured the interest of the market especially from low-income communities by offering affordable micro insurance products that can be easily purchased in any of Cebuana Lhuillier’s over 3,000 branches nationwide.
Lhuillier pushed for more tech innovation that included ProtectNow , a web-based platform which aggregates the best possible insurance options for their home, auto, travel, and family insurance needs; Claims PayOut Anywhere, which allowed clients to process their claims in any Cebuana Lhuillier branch nationwide; and tie-ups with Lazada and Shopee which made buying micro insurance available online.
Fil-Global garners certification
Fil-Global Immigration Services Corp. has proven to lead the pack of immigration consultants in the Philippines and now lays its sight to become a global entity respected by partner institutions and world leaders in the immigration consulting industry.
Fil-Global is the only immigration service firm in the Philippines that has an ISO certification and has garnered the Management systems certification for quality management systems (AS/NZS ISO 9001), TÜV certification and the Philippine Top Choice Awards For Excellence.
Fil-Global has successfully sent out many students to study abroad in the past 8 years.