Suspension of Disbelief

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Tips from experts on how to achieve financial stability

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VERA Files and Yahoo Philippines | 22 January 2014

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In life, it takes more than just talent and skill to succeed.

As important as physical and emotional health is financial stability.

ABS-CBN News Channel’s, On The Money (airs on ABS-CBN News Channel every day at 3:30pm ) recently gathered a group of financial planners to share their expertise in managing personal finances.

Online definition of personal financial planning is “a process of determining an individual’s financial goals, purposes in life and life’s priorities, and after considering his resources, risk profile and current lifestyle, to detail a balanced and realistic plan to meet those goals.”

Registered financial planner Alvin Tabañag advises to start with the children. It’s like hitting two birds with one stone because teaching children about managing their money properly will also force parents to be also more responsible when it comes to their finances.

“Even if you can afford it as a parent, do not give in to their every demand. If it’s something that they can really live without, then it’s not important, then do not give it right away. You can ask your children to save for it and just wait, instead of just buying on impulse. It’s a life lesson kids should learn,” Tabañag said.

Book author Marvin Germo, who is also a registered financial planner came up with an acronym for his personal finance tip: S.T.O.C.K.S.

Spending on a budgetGermo said that setting a budget before you spend on something can help you control your finances.

Throwback. Don’t be ashamed to recycle the gifts that were given to you, especially if it will not be useful for you.

Opportunities. Take any and all opportunities that will come your way because it’s always a way to increase your cash flow.

Cash is king. Cash gives you the position to invest and even save you in times of emergencies.

Knock off debt. Debt is a big killer. It’s always better to pay off your debt in full before you save, invest or go into anything else.

Start planning. Start out your year, 2014, with a goal. You need to put a name to every peso; is it for your retirement, is it for your investment, is it for you?

Another registered financial planner, Rienzie Biolena, stressed the importance of investing in one’s self.

“It’s the most overlooked, in terms of investments,” Biolena said adding that, “When you invest in yourself, you increase your knowledge, your capability, to earn and expand your resources, and also, you will be able to manage your assets properly.”

Attending seminars and conferences, reading personal finance books, searching the web, and watching personal finance programs are examples of investing in one’s self, Biolena said.

“Nowadays, people are spending like 30-40,000 for a gadget. My question for them is, how much are they spending on themselves to develop themselves?” Biolena asked.

Seasoned financial planner and ANC’s On The Money resident financial advisor, Salve Duplito, stressed the importance of a personal financial plan.

Duplito said making a financial plan is one of the best things you can do for yourself. “It doesn’t have to be all these very highfaluting financial plans. Just make sure all the details are there; your investment goals, your goals for yourselves, what you will do from now until that time when you need to retire, etc.,” she explained.

Duplito also said that having a financial plan helps you track your expenses and keeps you focused. Without a plan, it’s easy to get sidetracked by all the unnecessary things one wants to buy.

“Financial planning involves cash management, investment planning and estate planning. It should start with your goals and steps (created by you) to help you reach your goals,” Duplito said.

 

 

 

(The author is executive producer of “On The Money.” VERA Files is put out by veteran journalists taking a deeper look at current issues. Vera is Latin for “true.”

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Success awaits those who dare break barriers

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VERA Files and Yahoo Philippines | 19 October 2013

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Ben Chan, 2013 Entrepreneur of the Year Philippines

Ben Chan, 2013 Entrepreneur of the Year Philippines

Overcoming obstacles and turning them into opportunities won for businessman Ben Chan the Entrepreneur of the Year Philippines award for 2013.

“The biggest challenge of my business turned out to be the most rewarding,” Chan chaired his experience relating how he rebuilt his business from the ashes of a shop razed by fire and renamed it BENCH/.

“You’ll find that the energy that you create from following your passion will take you through the ups and downs of running a business. And it will eventually be the substance that will drive your brand.” Chan stressed. “You need to be disciplined but be dedicated, and you will find fulfillment and success in your chosen endeavor.”

Chan was named Entrepreneur of the Year Philippines for embodying the entrepreneurial values of leadership, team building, innovation, financial performance and societal transformation.

The Entrepreneur of the Year program was founded and produced by Ernst & Young in 1986 in the United States. SGV Foundation, Inc. established it in 2003 in the Philippines.

This year’s theme is Breaking Barriers, to acknowledge how all the 12 finalists of the program over the last decade overcame the different challenges of entrepreneurship.

“Barriers may be considered deterrents or accelerants, depending on one’s perspective. But with our finalists, we saw how willpower and entrepreneurial zeal can turn obstacles into opportunities,” SGV Foundation, Inc. Chairman & President Cirilo P. Noel said.

“If you love what you’re doing you can overcome everything, you can achieve anything. It doesn’t matter how many struggles you’re going to face along the way; just follow your passion and never be afraid to fall down,” Ben Chan, chairman of the board of Suyen Corporation, said.

Chan, who was named Entrepreneur of the Year Philippines 2013, always had the passion for design and aesthetics, thus, he believes that creativity and passion for your own business are the only things entrepreneurs should do for them to be successful.

He was also won the Master Entrepreneur Award, a category award given to the entrepreneur who best exemplifies sound management practices in critical areas of the company, including finance, marketing, human resources and sales.

“Creativity is the essence of my business and this motivates me. My inspiration is the success of other retailers. What they can do, we can do, and today’s global retail industry makes that possible,” he said. “I am inspired that a Filipino brand like Bench can hold its own among the best retailers in the world.”

During the mid-80s, Chan explored the world of fashion, he started a line of children’s clothes which was retailed in a local department store, but that didn’t last long. They lost the shop when the department store caught fire.

Rebuilt as BENCH/, the brand became a household name over the years, starting as a men’s T-shirt expanding to include jeans, undergarments, accessories, cosmetics, body care products, and even snacks. BENCH/ is present in China and the Middle East. Chan is exploring more overseas expansion.

2013 Entrepreneur of the Year Philippines finalists

2013 Entrepreneur of the Year Philippines finalists

This year’s Young Entrepreneur Award was given to Juliet D. Herrera, president and general manager of Serenitea Cha Kitchen, Inc. Herrera was chosen as she possesses the potential to be an inspiration and a model of entrepreneurship to the youth. Herrera plans to expand Serenitea, to expand the number of franchises and reach more areas outside Metro Manila.

The Small Business Entrepreneur Award was given to Leonarda O. Capuyan, president of Narda’s Handwoven Arts and Crafts, Inc. and Narda’s Trading Corporation. She demonstrated management excellence in a business with assets of less than 100 million pesos, and was also responsible for the long-term growth of the company. Today, Narda’s woven handicrafts are being marketed locally and internationally; Hong Kong, Japan, Australia, Germany, France, Italy and Canada.

Dr. Milagros O. How, executive vice president of Universal Harvester, Inc. bagged the Woman Entrepreneur Award. How’s excelled in entrepreneurship, leadership and community development, which made her a trailblazer in a male-dominated industry. Universal Harvester, Ic. Claims to have helped 2,312,000 farmers through 932 farmers’ cooperatives, federations and associations in 68 provinces nationwide.

The other finalists were: Santiago G. Araneta, chairman and CEO of LBC Express Inc.; Alexander L. Bangsoy, president and CEO of Goshen Land Capital, Inc.; Maria Lorena Simeon-Florendo, founder and CEO of LiFEDATA Systems, Inc.; Alberto D. Lina, chairman of Airfreight 2100, Inc.; Cesar Mario O. Mamon, president and chairman of the board, Enchanted Kingdom, Inc.; Manuel H. Osmena, group chairman, Manny O. Group; Dr. Victor V. Perez, president of University of Cagayan Valley; and Rajan A. Uttamchandani, chairman and CEO of Esquire Financing, Inc.

Past winners of the Entrepreneur of the Year Philippines were: Tony Tan Caktiong, president and CEO of Jollibee Foods Corporation, Entrepreneur of the Year Philippines 2003 & World Entrepreneur of the Year 2004; Socorro Cancio-Ramos, founder of National Bookstore, Entrepreneur of the Year Philippines 2004; Lance Y. Gokongwei, president and CEO of Cebu Air, Inc., Entrepreneur of the Year Philippines 2005; Senen C. Bacani, chairman and president of La Frutera, Inc., Entrepreneur of the Year Philippines 2006; Wilfred Steven Uytengsu, Jr., president and CEO of Alaska Milk Corporation, Entrepreneur of the Year Philippines 2007; Ambassador Jesus P. Tambunting, chairman and president of Planters Development Bank, Entrepreneur of the Year Philippines 2009; Tennyson G. Chen, president of Bounty Fresh Food Inc., Entrepreneur of the Year Philippines 2010; Erramon I. Aboitiz, president and CEO of AboitizPower Corp., Entrepreneur of the Year Philippines 2011; and Jaime I. Ayala, president and CEO of Hybrid Solutions, Inc., Entrepreneur of the Year Philippines 2012.

 

(VERA Files is put out by veteran journalists taking a deeper look at current issues. Vera is Latin for “true.”)

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ANC Presents Myanmar Opens to the World

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Exclusive Interview of Aung San Suu Kyi

March 16, 2012

Host: Korina Sanchez
Executive Producer: Francis Toral
Associate Producer: Patrick King Pascual
Researcher: Biena Magbitang
Graphics: Karl Claveria
Editing: Jetjet Capiz

Surviving 2011: The ANC Yearend Report

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The ANC 2011 Yearend Special is a one-hour special that mixes the biggest political, business and social media developments of the year.

It summarizes the key events and how it affected the lives of Filipinos.

December 30, 2011

Host: Pinky Webb
Executive Producer: Francis Toral
Associate Producer: Patrick King Pascual
Director: Rommel Pedrealba
Writers: Acor Arceo
Rachel Hermosura
Monica Magpantay
Mimi Ong
Jekki Pascual
Segment Producers/Researchers: Biena Magbitang
Mark Patal
Coordinator: Janet Jimenez
Editing/Master Editor: Almin John Capiz
Graphics: Toffee Dimalanta
Original Score: Alfred Ongleo
Edwin Ortega
Sound Engineer: Aenid John Pajo
Cameramen: Nathan Abrio
Aris Cancino

Written by Patrick King Pascual

January 4, 2012 at 4:06 pm

Surviving 2011: ANC Yearend Report [Promo 2]

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December 30, 2011/ 7pm

ABS-CBN News Channel

Written by Patrick King Pascual

December 28, 2011 at 6:31 am

YouTube Worldview Pres. Noynoy Aquino

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Written by Patrick King Pascual

October 23, 2011 at 6:30 am

“Shine”: a tribute to Filipino entrepreneurs who believe in the Philippines

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Published in Yahoo Philippines and VERA Files | 17 October 2011

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While countless Filipinos still believe in the American dream, the big names in local entrepreneurship have proven that dreams can come true even here at home.

“I have confidence in the countless opportunities that is available in the country,” Erramon I. Aboitiz, president and chief executive officer (CEO) of Aboitiz Power Corp., said

Aboitiz, who was recently named Entrepreneur of the Year Philippines 2011, believes the Philippines is a great place for up and coming entrepreneurs.

“People ask me why not go abroad; I said what for?” he related. “We have a lot of opportunities here, if we just look hard, we can make it big in the Philippines.”

Aboitiz also won the Master Entrepreneur Award 2011, a category award that is given to the entrepreneur who best represents a great deal of management in finance, marketing, human resources and sales.

He will represent the Philippines in the World Entrepreneur of the Year Awards in Monaco in 2012.

His success in transforming Aboitiz Power Corp. from a regional power distributor into a national power industry player, with generation and distribution assets throughout the country made him a run-away winner of this year’s award.

Aboitiz was chosen for embodying the entrepreneurial values of leadership, strong vision, innovation and strong financial expertise and performance.

The Entrepreneur of the Year program was founded and produced by Ernst & Young in 1986 in the United States. SGV Foundation, Inc. established it in 2003 in the Philippines.

For eight years now, Ernst & Young’s Entrepreneur of the Year has given awards to recognize exceptional entrepreneurs who, collectively and individually, build and lead successful, growing and dynamic businesses that drive the Philippine economy, and inspire other aspiring entrepreneurs to follow their leadership, vision, success, and achievements.

The theme for this year’s search is “Shine,” in recognition of Filipino entrepreneurs who shine and inspire other entrepreneurs with their commitment to uplift their communities, their people and eventually the country.

This year’s Social Entrepreneur Award went to Anna Meloto-Wilk and Camillie D. Meloto, president and creative director of Gandang Kalikasan, Inc., respectively, for applying practical and innovative and market-oriented approach to their business and pushing social change for the poor with livelihood projects.

Reynaldo T. Paulino, managing director of Kraftika Filipina, won the Small Business Entrepreneur Award. He best demonstrated management excellence in his business with an asset less than 100 million pesos. He hopes to make Kraftika Filipina one of the best native fashion producer.

The Woman Entrepreneur Award was given to Maria Fe P. Agudo, president and CEO of Hyundai Asia Resources, Inc. Her outstanding leadership and community development was recognized in a male-dominated industry. She’s involved in Gawad Kalinga Center for Social Innovation Program that guides upcoming social entrepreneurs.

Ferdinand Y. Marañon, president and CEO of Sagrex Corporation, bagged the Emerging Entrepreneur Award. Marañon exemplifies the start-up process and plans to make the Philippines the world’s biggest source of cardaba bananas.

Bienvenido V. Tantoco III, president of Rustan’s Supercenter, Inc., was given the Innovation Entrepreneur Award. He demonstrated an innovative approach and business solution that resulted in turning around his company, which previously had huge debts, and making it grow.

Raul Anthony D. Concepcion, president and CEO of Concepcion Durables Inc., got the Business Excellence Award for showing an exceptionally consistent and systematic application of total quality management principles.

“The quality of this year’s finalists has shone through in the work they have done and they have been deemed role models in their respective industries,” SGV Foundation Inc. Chairman  Cirilio P. Noel said.

The other finalists were: Francisco M. Bernardo III, president and founder of LET’S GO Foundation; Bernard Faustino M. Dy, school vice president of University of Perpetual Help System; Prudencio S. Garcia, president of Mekeni Food Corporation; Jaime Enrique Y. Gonzalez, CEO of IPVG Corp.; Pacita U. Juan, marketing director of Earth Life Store Supply, Inc.; Ronnel C. Rivera, president of Gensan Shipyard & Machine Works, Inc.; Genevieve Ledesma-Tan, chief executive mentor of Southville International School and Colleges; Winston S. Uy, president of Universal Leaf Philippines, Inc.; and Francis Glenn L. Yu, president and CEO of SEAOIL Philippines, Inc.

Past winners of the Entrepreneur of the Year Philippines were: Tony Tan Caktiong, president and CEO of Jollibee Foods Corporation, Entrepreneur of the Year Philippines 2003 & World Entrepreneur of the Year 2004; Socorro Cancio-Ramos, founder of National Bookstore, Entrepreneur of the Year Philippines 2004; Lance Y. Gokongwei, president and CEO of Cebu Air Inc., Entrepreneur of the Year Philippines 2005; Senen C. Bacani, chairman and president of La Frutera Inc., Entrepreneur of the Year Philippines 2006; Wilfred Steven Uytengsu, Jr., president and CEO of Alaska Milk Corporation, Entrepreneur of the Year 2007; Ambassador Jesus P. Tambunting, chairman and president of Planters Development Bank, Entrepreneur of the Year Philippines 2009; and Tennyson G. Chen, president of Bounty Fresh Food Inc., Entrepreneur of the Year Philippines 2010.

 

(VERA Files is put out by veteran journalists taking a deeper look at current issues. Vera is Latin for “true.”)

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