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China Bank Securities sees 75% revenue growth this year

CHINA BANK Securities Corp., the stock brokerage arm of China Bank Capital Corp. (CBCC), is looking at a 75% growth in its revenues this year on the back of robust market conditions.

China Bank Securities President and Chief Executive Officer Marisol M. Teodoro said the stock brokerage firm is optimistic about its growth for 2018.

“The supportive economic conditions, positive investor confidence, upbeat trend in both the equity and capital markets, in addition to the healthy pipeline of initial public offerings or IPOs (initial public offerings) bode well for our growth projections,” Ms. Teodoro was quoted as saying in a statement sent to reporters on Friday.

She added that China Bank Securities is planning to further build its business.

“We are laying the foundation for stronger operations, like stepping up our marketing efforts, beefing up our team of seasoned traders and analysts, and scaling up our [information technology] infrastructure to boost trading volumes,” Ms. Teodoro added.

The stock brokerage firm, formerly known as ATC Securities, was acquired by CBCC in March last year.

The change in name to China Bank Securities was approved by the Securities and Exchange Commission in July as it hiked its capital to P150 million from P38 million.

In 2017, China Bank Securities facilitated the marketing and distribution of the P8.6-billion maiden public issue of Eagle Cement Corp. in May, as well as the P5 billion preferred shares issue of 8990 Holdings, Inc. in November, both of which were solely underwritten by CBCC.

China Bank Securities is a subsidiary of listed China Banking Corp. (China Bank).

In the third quarter of 2017, China Bank booked a net income of P2.09 billion, up 32% from the P1.58 billion recorded in the same period a year ago. This was mainly driven by the expansion of its core and fee-based businesses.

China Bank shares closed at P36.75 apiece yesterday, losing five centavos or 0.14% from the previous day’s finish. — Karl Angelo N. Vidal

Damosa Land sets initial P1B for Samal township project

DAVAO CITY — Damosa Land Inc. (DLI), the real estate arm of the Floirendo group of companies, is investing about P1 billion for its 12-hectare township project in the Island Garden City of Samal.

Groundbreaking for the seaside complex, dubbed Bridgeport, is planned within the second quarter of the year, according to DLI Vice-President Ricardo F. Lagdameo.

“It is going to be a master-planned, mixed-use community,” Mr. Lagdameo said at a press conference Thursday.

Bridgeport will be a high-end, “less crowded community,” with the detached residential homes consisting of 400- to 500-square meter lots priced at a minimum of P10 million.

The island township will also have a marina for up to 50 boats and a condominium complex, which is the first lined up for construction.

Paulynne Anne B. Ferrero, business development officer of Bridgeport, said the company is positioning the project as “an easy access leisure township.”

Ms. Ferrero said the complex will also have a commercial area and a hotel of about 200 rooms, targeting the meetings, incentives, conferences, and exhibition market.

She added that the planned hotel is not seen to compete with Pearl Farm, the Floirendo’s luxury resort in Samal.

DLI is also looking at linking with the fishing communities on the island to have their catch sold to one of Bridgeport’s restaurants.

“We have started discussing this proposal with the village officials and the fisherfolk group,” said Ms. Ferrero.

OFFICE SPACE
Meanwhile, in a forum earlier in the week, Mr. Lagdameo said their office leasing business in Davao City, a partnership with flexible workspace provider Regus Philippines, saw a good performance in 2017 despite the declaration of martial law in Mindanao.

“I would say it is one of our strongest years… for more long term investors, they are trying to cut through the noise, they know that the fundamentals are there. The declaration of martial law is just temporary in nature,” he said during the Mindanao Business Briefing on Jan. 22 organized by the European Chamber of Commerce of the Philippines.

Regus Philippines Country Manager Lars Wittig, in the same forum, cited a 93% occupancy rate as of end-2017 for their Davao facility, the company’s biggest site in the country with 346 stations, 52 offices, and three conference rooms.

“With 93% occupancy and solid demand, we need to expand in Davao, while looking for locations in CDO (Cagayan de Oro City) and General Santos (City) as well,” Mr. Wittig said.

Mr. Lagdameo said it has been largely “business as usual” despite apprehensions over martial law.

“There’s really a negative perception (from the outside) on what is going on due to martial law. But there are a lot of opportunities for new investments to come in… there’s been a lot of growth not just in agriculture as we know the economy of Mindanao has really been focused on the agri-business, but over the last decade or so there’s been an increase in services, in real estate, BPO (business process outsourcing), and industry. There’s been a lot of moves to really promote manufacturing,” he said.

DLI is currently developing an 88-hectare township in Panabo City, adjoining the 63-hectare Anflo Industrial Economic Zone under sister firm Anflo Industrial Estate. — Carmelito Q. Francisco and Maya M. Padillo

New complaint against Chief Justice says she didn’t file her SALN for 17 years

LAWYER Lorenzo G. Gadon filed another complaint against Chief Justice Maria Lourdes P.A. Sereno, this time for alleged non-filing of her statement of assets, liabilities, and networth (SALN) for 17 years, which covers the time she taught at the University of the Philippines.

Mr. Gadon, the complainant in the impeachment case against Ms. Sereno which is currently being heard in the House of Representatives, said on Friday that the the chief justice violated several provisions of the Code of Conduct and Ethical Standards for Public Officials under Republic Act (RA) 6713 and the Anti-Graft and Corrupt Practices Act under RA 3019. The case was filed at the Department of Justice (DoJ).

“For a period of… 20 years or so, she only submitted her SALN thrice. She failed to submit anything for 17 years. So that’s her violation here,” Mr. Gadon said in Filipino during an interview with the media.

Mr. Gadon further clarified that his latest complaint is different from the impeachment charges against Ms. Sereno. The impeachment case questions the proper declaration of her income on her SALN while this new one questions the submissions of her SALN when she was teaching in UP, he said.

Ms. Sereno served as full-time professor in the University of the Philippines (UP) prior to becoming a chief justice from 1986 to 2006.

During her two decades of tenure in the university, she only filed her SALN for the years 1998, 2002, and 2006 — which is the same information unearthed during the House committee on justice’s probe into the probable cause of the impeachment charges.

Mr. Gadon earlier accused Ms. Sereno of failing to report in her SALN the attorney’s fees she received as counsel in the PIATCO case and failing to “truthfully disclose” her SALN.

“This is a criminal act that she has to account for that is why I filed a case. And this is complete with evidence because UP itself certified that she did not submit her SALN,” Mr. Gadon said in Filipino.

During the House probe, officials of UP’s Human Resources and Development Office testified that they could only retrieve the chief justice’s 2002 SALN from their records.

The Office of the Ombudsman likewise said it holds no records of her SALN.

“And the third evidence here is the certification from JBC itself that she did not at all submit her SALN during those 20 years, that she only submitted three,” Mr. Gadon said in Filipino.

According to Mr. Gadon, the Supreme Court requires its justices to submit 10 years worth of SALNs if they were previous public employees.

“But [Ms. Sereno] didn’t submit,” Mr. Gadon said in Filipino. “If you will look at it closely, she is not qualified as chief justice from the very start.”

Mr. Gadon said he is also planning to file administrative and criminal charges against other officials of the Supreme Court over alleged violations of the procurement laws as discovered during the House proceedings.

During the course of the impeachment probe in the House, procurement committee officials of the Supreme Court were summoned to testify on the allegations of acquiring overpriced Toyota Land Cruiser for the chief justice, hiring of IT consultant with high compensation, and the lavish accommodation in Shangri-La Boracay without proper bidding.

On Monday, Jan. 29, the House committee on justice is set continue its deliberation on the impeachment case against Ms. Sereno. — Minde Nyl R. Dela Cruz

Bayer boosts hybrid rice seed production

BAYER Philippines Inc. on Friday officially unveiled an P80-million hybrid seed conditioning line at its facility in Canlubang, Laguna which is expected to increase its local production by 30% this year.

The high capacity seen conditioning line is capable of processing one ton of hybrid rice seeds per hour. It has an annual rated capacity output of 3,000 metric tons (MT).

Bayer CropSciences, Inc. country commercial lead Iiinas Ivan T. Lao said that this is part of the company’s pledge to help the Department of Agriculture reach its rice self-sufficiency and food security goals by 2020.


Mr. Lao estimated that they could get their return of investment from the expansion in three to four years’ time.

The US-based company currently contributes around 30% of the total hybrid rice seed supply in the country.

Bayer’s Head of Seeds for the Crop Science Division Recher Ondap said that with the new conditioning line, their capacity is expected to increase.

Ariel T. Cayanan, DA Undersecretary for Operations and Agri-Fisheries Mechanization and National Project Director for the Philippine Rural Development Project, said that through increased capacity from the private sector, the Philippines may be able to wean itself off rice importation in the near future.

“[Bayer’s new equipment] will increase our domestic seed production to be able to serve more quality seeds and meet the growing demand of the Philippine hybrid rice industry,” he said during the launch.

“With government and private sector partnerships, we look forward to attaining milestones in hybrid rice adaptation in the country, and ultimately achieving rice sufficiency and security by 2020,” he was quoted as saying in a Bayer release.

Amit Trikha, Bayer Head of Seeds (Asia Pacific), said that to ensure the consistent quality of the seeds, the facility has cold storage and ambient storage with a capacity of 450 MT and 1,000 MT respectively, both of which prolong the life expectancy of the seeds to two to three years.

Prior to the seed conditioning line, Bayer had invested in a P30-million breeding program for hybrid rice technology in the country. The company is continuing to research the development of seeds that are more resistant towards diseases.

Bayer currently has five varieties of hybrid rice.

Mr. Trikha said that with further developments in Bayer’s operations in the Philippines, the country is being eyed as the future hub for seed production for Southeast Asia once self-sufficiency is achieved.

Thrift banks post higher NPLs at end-Nov.

BAD DEBTS held by thrift banks picked up in November to outpace the growth in total loans, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.

Non-performing loans (NPLs) held by these lenders rose to P41.715 billion, up 13% from the P36.932 billion tallied in November 2016. This also picked up from the P41.159 billion in soured loans as of end-October, according to central bank data.

NPLs refer to unsettled debts for at least 30 days past due date. These are considered as risky assets due to a high risk of default.

The pickup in bad loans grew faster than the banks’ total loan portfolio, which grew by a tenth to P841.283 billion from P761.665 billion the previous year.

This likewise outpaced a 10.3% rise in bank deposits, which reached P936.995 billion as of November. Of this amount, 89.8% has been deployed for lending.

Thrift banks are focused on lending to consumers and small firms, which is deemed a riskier segment. This sets them apart from the operations of the bigger universal and commercial banks as they cater mostly to corporate clients.

The NPL stash took a 4.96% share relative to total loans, higher than the 4.85% ratio posted in November 2016.

On the other hand, non-performing assets held by thrift banks declined to P21.784 billion in November, coming from P22.752 billion worth of idle assets a year ago. These refer to properties and collateral seized by the banks from non-paying borrowers, which allow them to recover losses from credit defaults.

With the bigger amount of NPLs, the lenders decided to hike the allowance they set aside for potential loan losses to P28.513 billion, up by 4.6% from P27.27 billion previously. However, this can only cover 68.35% of the problematic debts, which is lower than the 73.84% coverage in November 2016.

Thrift banks made an aggregate P12.271 billion in net income from January to September 2017, 17.2% higher than the P10.47 billion they made during the comparable period in 2016.

Across the Philippine banking system, soured debts worth P163.103 billion took a 1.9% share of the P8.574 trillion total loans handed out by the country’s lenders.

There are 54 thrift banks operating in the Philippines as of end-September 2017, according to the central bank.

The BSP keeps a close watch on the loan and asset quality of banks and financial firms in order to maintain the soundness of the local financial system. — Melissa Luz T. Lopez

Duterte receives trade agreements, unfazed by terrorist threat during India visit

PRESIDENT Rodrigo R. Duterte is undaunted by the alleged ISIS threats against him during his stay in India for the ASEAN summit and the country’s Republic Day celebration, Presidential Spokesperson Herminio Harry L. Roque, Jr. said on Friday, Jan. 26.

“PRRD will not cower to threats from ISIS nor any other terrorist groups. He has pledged to serve the Filipino people and has left the issue of his mortality to the creator. He is unmoved by this latest threat and will be unrelenting in his fight against violent extremism. All precautions though are being taken by the PSG and Indian authorities,” Mr. Roque said in a Viber message to reporters in Manila.

India’s The Print reported last Thursday, Jan.25, that the host country has strengthened its security for Mr. Duterte and the other heads of states after receiving an intelligence alert that the Philippine President “is on the radar of the Islamic State.”

The spokesman assured the public that “security arrangements by both PSG (Presidential Security Group) and Indian police are in place.”

“We will all be there for and with him,” Mr. Roque added.

SIGNED BUSINESS AGREEMENTS
On the same day, Mr. Duterte formally received the copies of signed business agreements from Department of Trade and Industry (DTI) Secretary Ramon M. Lopez during the Philippines-India Business Forum, which was organized by the Philippine Trade and Investment Center (PTIC) in New Delhi, in partnership with the Indian Ministry of Commerce and Industry and the Ministry of External Affairs.

Mr. Lopez announced last Thursday that he received seven letters of intent (LoIs) and entered into two memorandums of agreement (MoUs) with Indian firms which will give the country at least “$1.25 billion worth of investments and 10,000 jobs.”

According to Mr. Roque, the President said in his speech at the Plenary last Thursday night that ASEAN countries should collectively “address terrorist financing to prevent violent extremism” in the region.

Mr. Duterte emphasized that ASEAN and India must step up cooperation in intelligence gathering, sharing, and analysis.

The President also vowed that he “will support the conduct of regular senior officials’ meeting on transnational crime in consultation with India, adding that “protecting the future generation remains his top priority, and he also welcomes efforts to address drug menace….”

Mr. Duterte encouraged India to join ASEAN in promoting rights of migrant workers, and he said as well that he “looks forward to strengthening the aviation and maritime connectivity through the conclusion of ASEAN air transport and maritime transport agreements.”

Moreover, he invited India to invest in submersible cables and ports facilities, and mentioned that there is a need to intensify the India-ASEAN trade and economic relation through the India-ASEAN free trade area.

Lastly, Mr. Duterte has called for stronger cooperation in biodiversity conservation to address ecosystem degradation. — Arjay L. Balinbin

Ombudsman finds probable cause to indict ex-Iloilo lawmaker for pork barrel misuse

THE Office of the Ombudsman found probable cause to indict former Iloilo Rep. Rolex T. Suplico over misuse of his Priority Development Assistance Fund (PDAF) in 2007.

In a resolution on Jan. 8 and publicized on Jan. 26, the Ombudsman said that there was enough basis to charge Mr. Suplico with one count of violation of Section 3(e) of Republic Act (RA) 3019 or the Anti-Graft and Corrupt Practices Act.

Mr. Suplico was found to have received P14.7 million as part of his PDAF before the May 2007 elections which he transferred to the Technology and Livelihood Resource Center (TLRC), acting as the implementing agency.

The money was later released to AARON Foundation Philippines Inc (AARON) which acted as the non-government organization (NGO) partner in the implementation of the development and livelihood projects for the 5th district of Iloilo. The Ombudsman found that Aaron Foundation has no business permit since 2004 and that its business address was traced to a vacant lot.

However, the Commission on Audit (COA), through the audit conducted by the Special Audit Office, reported that the funds were spent but were not covered by receipts and related documentation. Project implementation and NGO selection process “were not compliant with the provisions of COA Circular No. 2007-01 and Government Procurement Policy Board Resolution No. 12-2007, it added.

“There is no evidence showing that respondent Suplico exerted efforts to ensure that Aaron liquidated the P14,700,000.00 which could only mean that he benefitted from the transaction or that he was grossly negligent,” the resolution read.

The Ombudsman added that “[s]uch failure/refusal to liquidate the P14,700,000.00 clearly casts doubt as to the validity, propriety and legality of the transaction between respondents, causing undue injury to the government and giving unwarranted benefits, advantage or preference to AARON.”

Aside from Mr. Suplico, TLRC Director General Antonio Ortiz and AARON President Alfredo Ronquillo were also charged as co-accused. — Minde Nyl R. Dela Cruz

PAL to start non-stop Manila-Brisbane flights in March

PHILIPPINE Airlines announced on Friday that it will be fielding non-stop flights between Manila and Brisbane starting March 27. By removing the stopover at Darwin, flight time will be cut down to less than seven hours from the current nine hours and 20 minutes, PAL said in a statement.

The non-stop Manila-Brisbane flights will operate four times a week, initially using the Airbus A340, with the newly acquired longer-range Airbus A321 NEOs taking over later in the first half of the year.

PAL reasoned that more direct flights could lead to an improvement in tourism between the two destinations.

“Queensland is also home to a growing number of migrant and expatriate Filipinos. Flying direct to Manila will help encourage Queensland-based Australians to consider holiday trips to the Philippines,” PAL said in the release.

As a consequence of the new non-stop route, PAL’s flights to Darwin will be cancelled starting March 25. PAL reasoned that it would be too uneconomical to operate Manila-Darwin services unless market conditions improve.

“In the meantime, PAL will continue expansion to other key Australia destinations [such as] Sydney, Melbourne and Brisbane.”

Last year, PAL shifted to non-stop flights to Toronto, Auckland, Doha, Kuwait City, and Jeddah. — A. Mogato

Bourse soars above 9000 on positive sentiment

By Arra B. Francia, Reporter

PHILIPPINE shares climbed to a fresh peak on Friday as investors continued to be bullish on the country’s economic growth.

The 30-member Philippine Stock Exchange index (PSEi) rose 0.47% or 42.03 points to finish the week at 9,041.20. The broader all-share index was also up 0.33% or 17.05 points to 5,262.30.

This marked the PSEi’s eighth record high for 2018, after closing at 8,999.17 on Thursday. It was also its first time above the 9,000 level.

“In a see-saw trading session, the Philippine market ended Friday’s session in the green ahead of window dressing next week,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said.

Analysts noted the economy’s 6.7% expansion for full year 2017 continued to fuel investor sentiment, with the market poised to maintain its current level in the coming weeks.

“Sentiment was carried over from last night’s regional performances as well,” Mr. Limlingan added.

Overseas, the Dow Jones Industrial Average was up 0.54% or 140.67 points to 26,392.79; the S&P 500 index gained 0.06% or 1.71 points to 2,839.25, while the Nasdaq Composite index was down 0.05% or 3.89 points to 7,411.16.

At the PSE, four sectors moved to positive territory. Holding firms gained 1.02% or 94.69 points to 9,352.46, followed by property that increased 0.75% or 30.62 points to 4,122.44. Industrial sector added 0.14% or 16.73 points to 12,067.48, while services saw a 0.03% or 0.47-point uptick to 1,696.81.

The mining and oil sector meanwhile gave up 0.76% or 93.42 points to 12,189.62, while financials dropped 0.44% or 10.02 points to 2,255.09.

A total of 110 issues advanced, against 97 that declined and 52 names that remained unchanged.

Foreign investors turned sellers, with net sales at P242.25 million, against net inflows of P119.62 million on Thursday.

Shares in Megawide Construction Corp. led the most active stocks, adding 4.85% to P21.60 each. SM Investments Corp. shares added 3.64% to P1,140, while Ayala Land, Inc. was up 1.06% to P47.50 each.

Meanwhile, Metropolitan Bank and Trust Co. were among the stocks that declined, losing 2.31% to P101.30 each, while Megaworld Corp. shed 0.59% to P5.05 apiece.

Peso weakens as Trump backs strong dollar

THE PESO weakened against the dollar on Friday on the back of President Donald J. Trump’s statement on a stronger dollar and dovish remarks from the European Central Bank (ECB).

The local currency ended Friday’s session at P50.84 versus the greenback, three centavos weaker than its P50.81-per-dollar close on Thursday.

The peso opened the session lower at P50.91 versus the dollar, while its intraday high stood at P50.80. The peso’s worst showing, meanwhile, stood at P50.95 against the greenback.

Dollars traded moved sideways to total $1.053 billion from the $1.049 billion that changed hands in the previous session.

“I think the dollar-peso [trading] moved sideways,” Ruben Carlo O. Asuncion, chief economist of UnionBank of the Philippines, said in a phone interview on Friday.

However, he noted that the remarks of President Donald J. Trump regarding the dollar affected the movement of the dollar.

In a CNBC interview, Mr. Trump said he is in favor of a strong dollar.

“The dollar is going to get stronger and stronger, and ultimately I want to see a strong dollar,” he said in an interview during the World Economic Forum in Davos, Switzerland.

This remark is in contradiction to the statement of US Treasury Secretary Steven T. Mnuchin a day earlier, saying that the weak dollar is “good for us.”

“Obviously a weaker dollar is good for us as it relates to trade and opportunities,” Mr. Mnuchin told reporters, according to Reuters.

Meanwhile, a trader said the peso weakened amid dovish remarks from the ECB.

“Dovish remarks from the European Central Bank in its meeting yesterday (Thursday) that it will continue in its expansionary policy mainly caused the dollar to strengthen,” the trader said.

The ECB kept its interest rates unchanged during its monetary policy meeting on Thursday night.

In return, the euro plunged traded above the $1.25 level intraday, its worst since May of last year.

The trader added that the remarks from the ECB left a “a spill-over effect to the dollar-peso exchange rates.” — KANV

CCAP prepares for implementation of EU data protection regulation

THE Contact Center Association of the Philippines is gearing up for the implementation of the European Union’s (EU) General Data Protection Regulation (GDPR), mainly focusing on talent development.

The pledge to comply with the new rules for data privacy and cyber security was aired by CCAP through its president Jojo J. Uligan during the CEO forum held last week.

“There will be a lot of initiatives that revolve around talent development. Our business is about our people so we need to have those activities for managers, team leaders, agents, and even executives,” he said in a statement.

CCAP will be holding workshops and other activities to ease the local industry into adapting to the GDPR.

The GDPR is set to take effect on May 25 and will be enforced by the National Privacy Commission (NPC).

The regulation requires local firms servicing EU member states to appoint data protection officers (DPO) to implement the management program monitored by the NPC.

At present NPC said that there are 4,712 public and private agencies with registered DPOs.

NPC chairman Raymond E. Liboro also reminded other agencies that they only have March 8 to register their DPOs.

“You can be number one in your field but if you do not make adjustments in this digital economy, your brand and business will suffer. Invest in trust. We are not helpless,” he said.

Mr. Liboro also reminded the contact agencies that concealing security breaches carries a penalty of imprisonment and a fine ranging P500,000 to P1 million.

This is lower than the non-compliance penalty set by the EU which could either be 4% of the annual revenue of the company or $25 million, depending on which amount is higher. — A.G.A. Mogato

COMPETITION ALERT: Got a novel idea to improve financial literacy in PHL? Here’s a ₱100,000 grant

Money is one of the hardest things to teach. We’re taking not about spending it—that’s easy—but about earning, saving, and growing it.

In fact, according to Standard and Poor’s survey in 2015, only 25% of Filipinos are financially literate. This means approximately 75 million people have no idea of financial concepts such as inflation, risk diversification, insurance, compound interest or let alone the idea of having a savings account.

While the government is increasing its efforts in financial inclusion by boosting access to bank accounts and other financial services, there is still a need to come up with innovative and non‑traditional ways to increase skills in financial concepts and management and in turn avoid letting more people fall into the endless cycle of having high debts, mortgage defaults or insolvency.

And who can think of these novel ways? Sparked up business‑minded millennials, of course!

Sun Life Foundation partnered with The Spark Project, the leading crowdfunding platform and community in the Philippines, to search for, fund and accelerate financial literacy initiatives for 2018. This collaboration will crowd source creative and innovative solutions from social entrepreneurs and change makers, helping them deepen their social impact on the communities they serve.

According to the website, applications for the Brighter World Builder (BWB) Challenge are open to cause‑oriented groups, social enterprises, and non‑profit organizations “creating positive change in their communities.” Online applications are open until January 31, 2018.

At stake are grant funding worth ₱100,000 from Sun Life Foundation, crowdfunding support from The Spark Project, and a chance to develop their initiatives in a Social Impact Bootcamp by The Spark Project.

Initiatives requirements

  • Committed and passionate founding team
  • Proven concept tested through a pilot or small‑scale enterprise
  • Potential to scale and be replicated
  • Significant social impact
  • Sound and sustainable business model
  • Creative and innovative

The BWB Challenge will be selected based on their entries as determined by members of the Brighter World Builder screening committee curated by Sun Life Foundation and The Spark Project.

Awards and benefits

  • Participation in a Social Impact Bootcamp to further refine their initiatives
  • Opportunity to pitch their initiatives to the Brighter World Builder screening committee
  • Access to exclusive networking opportunities

Prizes for top prizes

  • Grant of ₱100,000 to be used for the implementation of proposed initiative
  • Crowdfunding support from The Spark Project
  • Featured in media activities of The Sun Life Foundation and The Spark Project

Key Dates

November 28, 2017‑January 31, 2018 (11:59 PM) – Application period

January 31, 2018 – Application screening and deliberations

March 2, 2018 – Phase 1: Deliberation of top finalists

March 5‑9, 2018 – Announcement of top finalists

March 24, 2018 – Social impact bootcamp for top fnalists

April 5 or 6, 2018 – Phase 2: Pitching of top finalists

April 9‑13, 2018 – Announcement of winners

Eligibility

Applications for the Brighter World Builder Challenge are open to organizations, social enterprises, and nonprofit entities in the Philippines, with at least one team member based in Metro Manila.

Interested parties may apply by clicking here.

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