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Grab Philippines to complete safety training center for bikers next month

TRANSPORT network vehicle service Grab Philippines targets the completion for the training facility of its motorcycle taxi by March this year.

In a media briefing on Wednesday, Grab Philippines President Brian P. Cu showed the latest developments on its Grab Driver Center in Marikina City.

The center is a one-hectare facility that houses the safety training facility and training grounds for the company’s GrabBike.

It has a state-of-the-art training course, which will simulate different road conditions such as paved roads, pebbled roads, wet roads, and muddy roads so that riders will be ready for any road conditions that they might encounter on the road.

Grab Philippines (MyTaxi.PH, Inc.) centered its investments on safety and ground training as it put in around P15 million in training, infrastructure, and equipment such as vests and helmets.

The safety training facility is on par with international standards that prioritizes the safety of riders and passengers.

Mr. Cu said 1,000 bikers are fully trained and ready to serve commuters if the program was given the green light.

When asked about the effect of GrabBike towards the existing services of GrabFood and GrabExpress, Mr. Cu downplayed the concern.

He said that the demand for GrabFood is at its peak during lunch and dinner, leaving a lull time from 1 p.m. to 6 p.m.

He added that the drivers of GrabFood and GrabExpress can use that down time to serve commuters while waiting for the said peak times, resulting in higher income and more productivity.

The Grab PH president also stated the reason behind the business move.

Mr. Cu said that he saw the need in the market for another player in the motorcycle taxi industry and that drivers of GrabFood and GrabExpress expressed their desire to join the motorcycle hailing field.

The firm aims to reach up to 15,000 riders before it launches to the public.

GrabBike will join Angkas, Joyride, and Move It as the main players in the motorcycle taxi industry. — Revin Mikhael D. Ochave

Your Weekend Guide (February 28, 2020)

Ortigas Art Festival

THE 3rd Ortigas Art Festival will run from Feb. 28 to March 8 at the newly opened East Wing of Estancia at Capitol Commons, Pasig. Festival curator and artist Renato Habulan of Eskinita Gallery has put together works by contemporary artists from three galleries: Eskinita Art Gallery, Kaida Contemporary Gallery, and vMeme Contemporary Art Gallery. Papelismo Boceto will also showcase 300 works from over 100 artists. Seven workshops await artists of all skill levels. On Feb. 29, there will be a mixed media demonstration by artists Gala Cali, Sahid Kazi, and Katrinn Haman. On March 1, visitors can learn about multimedia from Michelle Dawson, Made Palguna, and Rey dela Cruz. Admission is free. For details, follow Estancia at Capitol Commons on Facebook or visit ortigasmalls.com.

Madz concert

UNDER the direction of Mark Anthony Carpio, the Philippine Madrigal Singers (Madz) will perform classical music, Filipino and international folk songs, and popular music in a concert called MMMM…More! which will have performances on Feb. 29 to March 1 at the Main Theater of the Cultural Center of the Philippines. Tickets are available through TicketWorld (www.ticketworld.com.ph, 8891-9999).

And the Story Begins

CCC Productions and Resorts World Manila to gather three iconic local artists in And the Story Begins on Feb. 28 and 29 at the Newport Performing Arts Theater, Resorts World Manila. Directed by Marvin Caldito, the show brings together Basil Valdez, Lani Misalucha, and Ryan Cayabyab with the Manila Symphony Orchestra String Ensemble. Tickets are available through TicketWorld (www.ticketworld.com.ph, 8891-9999).

Joseph the Dreamer

TRUMPETS returns with its longest running musical Joseph the Dreamer, starring Sam Concepcion in the title role. Written by Freddie Santos, the musical tells the Biblical story of Joseph and presents themes of love, forgiveness, and unwavering faith in God. It is directed by Paolo Valenciano with Myke Salomon as musical director. The show runs at the Maybank Theater, BGC Arts Center, Taguig from Feb. 21 to March 7. Tickets are available through TicketWorld (www.ticketworld.com.ph, 8891-9999).

Batang Mujahideen

TANGHALANG Pilipino presents Malou Jacob’s play Batang Mujahideen from Feb. 21 to March 7 at the Little Theater of the Cultural Center of the Philippines. The story follows a seven-year-old Yakan girl, Fatima, who witnessed the March 2000 Abu Sayyaf kidnapping of a priest, teachers, and students in Basilan. She goes on to take a vow of silence and joins the ranks of mujahideen, disguising herself as a boy. Tickets are available through TicketWorld (www.ticketworld.com.ph, 8891-9999).

Stage Kiss

REPERTORY Philippines’ 83rd season opens with Sarah Ruhl’s Stage Kiss, which is running until March 1 at the Onstage Theater in Greenbelt 1, Makati City. Directed by Carlitos Siguion-Reyna, it stars Missy Maramara and Tarek El Tayech in a story of the dynamics between actors on- and off-stage. Tickets are available through TicketWorld (www.ticketworld.com.ph, 8891-9999).

Under My Skin

PETA closes its 52nd season with Under My Skin which is running until March 22. Written by Rody Vera and directed by Melvin Lee, it is an anthology of stories about Filipinos living with HIV. The play stars Cherry Pie Picache, Roselyn Perez, Eko Baquial, Miguel Almendras, Mike Liwag, Gio Gahol, Anthony Falcon, and Gold Villar-Lim. Tickets are available through TicketWorld (www.ticketworld.com.ph, 8891-9999).

Europelikula screening

FOR its second offering this year, Europelikula, a monthly showcase of festival films from European Union member countries jointly curated by the Cultural Center of the Philippines (CCP) and the EU Delegation, will screen Diamantino by Gabriel Abrantes and Daniel Schmidt on Feb. 29, 5 p.m., at the CCP’s Tanghalang Manuel Conde. The film is about the world’s premiere soccer star, Diamantino, who loses his special touch and ends his career in disgrace. Searching for a new purpose, he goes on an odyssey where he confronts neo-fascism, the refugee crisis, genetic modification, and the hunt for the source of genius. CCP Film Society cardholders must RVSP to ccp.fbnmd@gmail.com and arrive earlier than 2:45 p.m., or their slots will be given to walk-in audience. For walk-ins, registration is in front of the theater, and starts 30 minutes before screening. For more information, call the CCP Film, Broadcast and New Media Division at 8832-1125, local 1702 and 1705. Or visit the CCP Facebook accounts and website (www.culturalcenter.gov.ph)

In The Now release

UPCOMING Singapore-based electro-R&B/pop group, In The Now will be releasing its debut single “Fool” on various streaming and digital platforms today via independent record label, Umami Records SG. A music video directed and produced by Singapore creative collective YungTauFoo and Homies accompanies the release of this single. Access “Fool” via https://ffm.to/in-the-now-fool.

NCT Dream performs in Quezon City


PULP Live World presents the NCT Dream tour The Dream Show, on Feb. 29, 3 p.m., at the New Frontier Theater, Cubao, Quezon City. NCT Dream started out in 2016 as the third sub-unit of the K-Pop Group NCT. The group has a unique concept that follows an age-based graduation system where members graduate upon reaching the age of 20. Currently, NCT Dream has six members: Renjun, Jeno, Haechan, Chen Le, Jisung, and Jaemin. The group’s debut track “Chewing Gum” shot to No. 2 of the Billboard World Digital Song Sales Chart. This was later followed by its album, The First, which debuted at No. 1 on the Gaon Music Chart. In August 2017, the group’s first EP, We Young, was released followed by a second EP, We Go Up, in September 2018. We Go Up entered Billboard’s World Albums Chart and Heatseekers Album Chart at No. 5 and No. 7, respectively. NCT Dream is also the only K-Pop Group to be part of Billboard’s “21 Under 21 2018: Music’s Next Generation” list. Tickets are available at TicketNet outlets nationwide and online via www.ticketnet.com.ph. Ticket prices range from P5,000 to P10,000.

Overseas traders sell Asian stocks at fastest pace in years

FOREIGN investors are cutting their exposure to Asian markets at the fastest rate in years, as the coronavirus outbreak continues to spread globally.

They sold an average 6.1 billion yuan ($870 million) more of Chinese shares from Monday through Thursday than they bought, set for a record over a whole week. Foreigners unloaded a net $1.1 billion of Taiwan stocks on Wednesday, the most in six years, while the total hit the highest in South Korea since June 2013 at $868 million. As investors continue to exit the Philippines, that market on Wednesday had its worst day in four years.

Global equities have skidded this week with the number of confirmed cases surging in countries from South Korea to Italy. The MSCI Asia Pacific Index had dropped more than 8% since its January high to below its 200-day moving average for the first time since October. It lost more than 4% this week alone, heading toward its worst showing since October 2018.

“Foreign investors are pulling out of emerging markets as they are worried about supply-chain disruptions and resumption of work due to the coronavirus,” said Harris Liao, chief investment officer at Concord Securities Co. Earnings and economic-growth forecasts have been cut around the world in response.

To be sure, this month’s sell-off in emerging-market stocks has created an attractive entry point, according to Goldman Sachs Group Inc. UBS Global Wealth Management echoed its view, advising its high net-worth clients to load up on Chinese shares.

India’s stock market, meanwhile, continues to attract foreign cash. Emerging Asia debt markets have seen net inflows persist as well. Selling by foreign funds most often results in gains for investors of emerging-Asian bonds the following three months, according to a Bloomberg analysis of flow data. — Bloomberg

NMC Health removes CEO amid investigation of UAE firm’s finances

NMC Health has removed Chief Executive Prasanth Manghat with immediate effect and granted its finance chief extended sick leave, as more details emerge from an investigation into the UAE healthcare firm’s finances.

Abu-Dhabi based NMC said after Wednesday’s market close that it had appointed Chief Operating Officer Michael Davis as interim CEO to succeed Manghat and said Chief Financial Officer Prashanth Shenoy had been placed on longer leave.

Manghat had been with NMC for about 10 years in various roles, including deputy CEO and CFO, and had seen the company through its 2012 listing on the London Stock Exchange.

The moves are the latest blow for the firm whose shares have lost about two thirds of their value since US-based short-seller Muddy Waters late last year questioned its financial statements.

NMC had said at the time that the report was “false and misleading,” but had opened its own investigation into company finances. The review is being led by Louis Freeh, who was director of the Federal Bureau of Investigation in the United States from 1993 to mid-2001.

NMC on Wednesday said the investigation committee had identified supply chain financing arrangements that were entered into by the company and “which are understood to have been used” by entities controlled by founder BR Shetty and former vice-chair Khaleefa Butti Omair Yousif Ahmed Al Muhairi.

Reuters was unable to reach Manghat, Shetty and Muhairi for comment outside business hours on NMC’s latest statement.

The company, which operates clinics and hospitals, specialised maternity and fertility clinics, and long-term care homes in 19 countries, said the committee was reviewing a drawdown of its facilities that had not been disclosed or approved by the board.

Its shares closed 6.6% higher before Wednesday’s statement.

NMC also said it had suspended a member of its treasury team over possible discrepancies in its bank statements and ledger entries, and said it would be unable to publish its annual results till at least the end of April.

Indian billionaire Shetty resigned as NMC’s co-chairman this month, after British regulators said they were looking into NMC following a disclosure that he had misstated the size of his stake.

Shetty had said this month that his NMC shareholdings were under a legal review looking into a large portion of his shares signed to two of NMC’s top investors in 2017, while some of his other stock had been pledged as security against loans. — Reuters

Cebuana Lhuillier looking to increase client base

THE INSURANCE ARM of Cebuana Lhuillier targets to increase its customer base by 127% in the next three to five years and capture almost half of insured population following its transformation

On the sidelines of a company event on Thursday, Cebuana Lhuillier President and CEO Jean Henri Lhuillier said they have 11 million policyholders so far and they are targeting to increase this to 25 million in the next three to five years as they expand their reach through establishments as well as through the technology channel.

Cebuana Lhuillier announced yesterday its transformation to become a new insurance brokerage firm from a microfinancial services provider or as Cebuana Lhuillier Insurance Brokers, Inc. (CLIB).

It said CLIB will widen its reach not just in the microinsurance sector which already makes up 80% of its existing client pool, but to other markets as well as it plans to partner with more life and nonlife firms this year.

Currently, Cebuana Lhuillier has 2,500 branches and 6,500 domestic partner outlets nationwide.

Mr. Lhuillier said on Thursday that they are expecting to increase the number of their outlets to 2,600 by next year and expand their agent base to 10,000 by 2021.

“It’s also about access for clients to process the claims, that has been a stumbling block, an issue for a lot of insurance companies. Fortunately for us, we have our 2,500 outlets (to process claims) quickly and efficiently,” he said.

Meanwhile, Cebuana Lhuillier Insurance Solutions Jonathan D. Batangan said they are also aiming to become a “claims aggregator” as they will open and offer their outlets to their life and non-life insurer partners to process payouts.

Mr. Lhuillier also said the company is also looking to explore the blockchain technology this year.

Cebuana Lhuillier provides pawning, remittance, microinsurance and microloans services to the public nationwide.

Juan Paolo P. Roxas, Insurance Commission’s division manager on microinsurance, said the whole industry is aiming to increase the number of insured Filipinos to 50 million by 2022 from the current 40 million as of end-September 2019. — Beatrice M. Laforga

What to see this week

5 films to see on the week of February 28, 2020 — March 5, 2020

The Invisible Man

AFTER Cecilia’s abusive partner takes his own life and leaves her his fortune, she believes that his death is a hoax as she tries to prove that she is being haunted by someone she only can see. Directed by Leigh Whannell, the film stars Elizabeth Moss, Aldis Hodge, Storm Reid, and Harriet Dyer. Forbes’ Scott Mendelson writes, “This is all anchored by a terrific ‘in nearly every frame of the movie’ performance from Elisabeth Moss. She has become something of an heir to Jennifer Connelly’s ‘feel bad cinema’ crown (even as ‘cinema’ now includes prestige TV).”

MTRCB Rating: R-13

Hell Girl

HELL GIRL runs a website where the bullied and tormented are enabled to take revenge on their oppressors. The price for the service however is that the bullied and their oppressors are together in damnation. Directed by Kôji Shiraishi, the film stars Tina Tamashiro, Akaji Maro, and Manami Hashimoto Raiku.

MTRCB Rating: R-13

Ip Man 4: The Finale

A KUNG FU master travels to the United States when he finds out that his student has upset the local martial arts community for establishing a Wing Chun school. Directed by Wilson Yip, the film stars Donnie Yen, Scott Adkins, and Danny Chan Kwok-Kwan.

MTRCB Rating: R-13

Tootsies & the Fake

THE popular Thai television show comes to the big screen. Gayzilla Golf causes celebrity superstar Cathy to fall unconscious a week prior to the shoot for a TV commercial. To avoid a 50-million-baht lawsuit if Cathy does not show up, the tootsie gang plan to find a look-alike to pose as the real Cathy. Directed by Kittiphak Thongauam, the film stars Araya A. Hargate, Pattarasaya Kreuasuwansri, and Charoensook Paopetch.

MTRCB Rating: PG

Us Again

Margie, an unfulfilled medical technician, wants to rebuild her life. Meanwhile, Mike, a graphic artist, returns home from the United States to reconcile with Margie. Directed by Joy Aquino, the film stars RK Bagatsing and Jane Oineza.

MTRCB Rating: PG

Ayala unit funds acquisition of Ilocos Norte wind farm

AC Energy Philippines, Inc. is subscribing to the shares of Giga Ace 1, Inc. to allow the subsidiary to fund its acquisition of the ownership interest of an equity fund in a wind farm in Ilocos Norte.

In a disclosure to the stock exchange, the Ayala-led company’s arm for local energy projects placed the number of shares involved in the deal at 96,707,235, which will give it a 99.97% of the unit’s outstanding shares.

The shares are valued at about P2.57 billion. The subscription will be paid in cash.

In detail, AC Energy Philippines said it had signed the agreement with issuer Giga Ace 1 to subscribe to the latter’s 75,000 common shares to be issued out of its unissued authorized capital stock.

The agreement includes the subscription of 43,069,625 common shares and 53,562,609 Class A redeemable preferred shares to be issued out of the increase in the subsidiary’s capital. It was signed on Feb. 26, 2020.

The unissued common shares are priced at a total P75,000, while the new common shares are priced at P430,796,260, and the redeemable preferred shares at P2,142,504,360.

AC Energy Philippines said the subscription will be used by the issuer to fund its acquisition of the ownership interest of Philippine Investment Alliance for Infrastructure (PINAI) in Philippine Wind Holdings Corp. (PhilWind).

PINAI is comprised of Government Service Insurance System, Langoer Investments Holding B.V. and Macquarie Infrastructure Holdings (Philippines) Pte Ltd.

PhilWind directly and indirectly owns about 67% of North Luzon Renewables Energy Corp., which owns and operates an 81-megawatt wind farm in Pagudpud, Ilocos Norte.

North Luzon Renewables is a joint venture of AC Energy, Inc., UPC Philippines Hold Co I B.V., Luzon Wind Energy Holdings B.V., and PINAI.

AC Energy Philippines earlier said it had received on Feb. 4, 2020 the decision of the Philippine Competition Commission clearing its acquisition of the shares. It quoted the antitrust watchdog as saying that the deal “will not likely result in substantial lessening of competition.” It bought the shares for P2.7 billion subject to agreed adjustments.

AC Energy Philippines said it would be buying the entire shares of PINAI in PhilWind, and that after the transaction, it will directly and indirectly own 67% of North Luzon Renewables.

North Luzon Renewables is a power generating asset with stable cash flows from feed-in tariff under the Renewable Energy Act.

AC Energy Philippines had said the acquisition supports its “strategic objective to be the growth platform” of the AC Energy group in the country, and helps meet its goal of achieving 2 gigawatt of attributable renewable energy capacity by 2025.

On Thursday, shares in AC Energy Philippines rose 0.48% to close at P2.10 each. — Victor V. Saulon

Family lending

Seventeen years ago, I wrote about the concept of “Family Loans”, inspired by Robert Merton and Zvi Bodie in their innovative text Finance. Whenever I raise the issue in my Finance classes, I realize the concept can benefit today’s millennials. Allow me to revisit the same topic.

Suppose you are 30 years old, just got married, and want to buy a house for P1 million. Your bank is willing to grant you a mortgage loan for P800,000 or 80% of the purchase price of the house at an effective interest rate of 12% per annum, but you need a 20% down payment of P200,000.

On the other hand, your elder sister has some savings placed in time certificates of deposit and she can get only about 4% per annum if the deposit is rolled over.

With a little creativity and some straight thinking, these two circumstances can be turned into a family loan and both parties can benefit from the deal.

The elder sister can lend directly to you and the intermediary is eliminated. This means that you get the mortgage without the additional costs such as taxes and application fees. The loan will take less time to process, and the interest rate should be lower.

Simultaneously, your elder sister can increase her own return. Rather than the 4% per annum time deposit rate which is actually even 20% less because of withholding tax, she can charge a higher amount, say 6% per annum, and still offer you a bargain. She can even finance part of your down payment so that you get easier terms.

This decision is possible because as Merton-Bodie discuss, the financial system provides price information that helps coordinate decentralized decision making in the economy. Knowledge of market interest rates should allow transactions within families in a manner that will benefit all members.

Family loans are exemplary ways of showing that in a functional financial system, we will all be better off. Competition in the financial system should reduce the cost of intermediation. And one such way is by eliminating it altogether as in family loans.

However, family loans rarely happen especially in the Philippine setting. I’ve been surveying my MBA and undergraduate students in Finance on whether they practice this. Rare is the situation where a positive reply is given. When family loans are accommodated they are generally on a pay when able basis and are tempered to a minimum. No interest is charged and the lender loses on the time value of money alone. Finally, the lender will accommodate just enough in anticipation of non-repayment.

Because of the lack of appreciation of the benefits of this system among kin, siblings and close relatives are considered poor credit risk, despite all the love and familiarity we can factor in the relationship. Parents who lend to children, sisters to brothers, cousins, etc. find it difficult to collect from each other. They view it as a grant with option to collect. Add Filipino characteristics like hiya, utang-na-loob and pakikisama, and the family loan is doomed even before it starts.

We can all benefit from family loans. One might want to introduce a third-party arbiter, maybe a financial adviser, who should be independent, between the family borrowers and lenders. The transaction must be treated as an arm’s length business deal. The objective must be a win-win arrangement for the parties.

We belabor the need for family loans more especially if the proceeds are to be used for a business venture. Start-ups are rarely financed by formal financial institutions. And pricing is often high despite the low interest rate regime in the economy. New undertakings are often financed by the so-called 2Fs, friends and family. While the more endowed family member is usually ready to provide limited grants (or equity), funding can be increased under our family loan concept. And more new undertakings will be financed by the 2Fs if there is clear appreciation of the discipline and integrity needed by both borrower and lender. Otherwise, only the third F will show up for such accommodation — fools!

There are enough signals in the market place to make such transactions happen. All family members need to look at are market prices of similar assets to settle on the price of the transaction. And it can be mutually beneficial in comparison to deals with formal financial institutions. When accommodating requests of close family members, there may be a part given as largesse, but the real family loan should be well defined.

If only we can tap family loans in a big way, our economy will move forward faster. Imagine the pool of funds available from family members who work abroad. There is no Filipino without at least one relative in the US or elsewhere as an overseas worker. Surely, our relatives abroad mostly put their money in “safe” financial institutions. If family loans can only be made “safer” as it should be because of the drastic reduction in information asymmetry, the economy as a whole will be better off.

 

Benel D. Lagua was recently EVP and Chief Development Officer at the Development Bank of the Philippines. He is also a part-time lecturer at both Ateneo and DLSU. He is an active member of FINEX and is an advocate for innovations in SME Finance. Feedback and comments are welcome at

benellagua@alumni.ksg.harvard.edu

Best approach for celebrating worker birthdays

Our current human resources (HR) practice is to release printed birthday cards to those who are celebrating their birthdays during the month. The cards contain the best wishes and greetings of the boss and their department colleagues. However, I find it a bit corny, if not a robotic exercise for me as the new HR manager. Is there a better way? — Yellow Rose.

A boy went to the movies with his smaller brother and after they seated themselves, the older boy asked: “Can you see the screen, Willy?” The little boy replied: “Nope.” The older brother said: “We can’t do anything for now. Just laugh when I laugh.”

That’s what happens when HR managers simply follow the current policy without challenging the status quo and without looking for ways to maximizie the policy’s impact on the organization. I’ve seen it happen in many companies that don’t want to spend money to improve the system. It becomes worse if your department settles on copying and printing greeting card templates from the Internet that somehow contributes to the demise, if not the slow growth of Hallmark.

Really, what’s the point of issuing birthday greeting cards to the workers? Without you realizing it, that question is enormous in scope. Some would say it’s the best thing that an organization can do, in addition to issuing an announcement on the bulletin board. Others say that if you can’t pay a competitive salary, at least treat the workers well enough so they feel good that their colleagues remember their birthdays.

Sure, to some people, receiving birthday greetings have a positive impact. However, in our culture, many of us feel pressured to reciprocate. At times, office colleagues are bold enough to ask to be treated to a meal. But what if the person doesn’t celebrate that way or is hard up?

Somehow, it’s one of the reasons why celebrants avail of their birthday leaves so they are not pressured to accept the one-day heckling of their office colleagues.

BIRTHDAY CLUB CUM TOWN HALL MEETING
More than the heckling, the question is — what do birthday greeting cards have to do with good people management, when such an exercise becomes mechanical and meaningless? Have you measured its positive effects, if any, on the morale of employees? I mean, after receiving their birthday cards, what happens next?

To measure the effectiveness of birthday greetings, either by the traditional method of sending colorful, beautifully-designed cards or copy-paste template jobs from the Internet, the best thing is to organize a Birthday Club. Here HR takes the lead in scheduling a merienda cena for employees, to coincide with a town hall meeting be presided by the Chief Executive Officer (CEO), President, General Manager or alternatively by other high-ranking corporate officials. The process is simple and easy to do with HR taking into consideration the following:

One, announce the birthdays for the month via the Intranet. Depending on the capacity of the room, the celebrations may be divided into batches to accommodate as many as 50 workers per batch. Announcements may also be made through a posting on the company bulletin board. In this case, you may discontinue issuing birthday cards to all concerned.

Two, limit the celebration to two hours maximum. This is to ensure the efficient use of company time and resources. You can schedule it in the morning or afternoon and may follow the following schedule: Reception and fellowship for 30 minutes. Brief three-minute welcome remarks by the HR manager acting as the moderator followed by merienda cena for 30 minutes.

Three, focus on the basic message and plans of the CEO. Give him the chance to say his piece for about 25 minutes. After that, whatever is left of the two hours should be dedicated to an open forum where questions can be asked anonymously and displayed on a screen. This allows the HR department to sanitize impertinent, incoherent, and off-tangent questions, ideas, or complaints, including those would malign certain company officials or employees.

Four, the celebration may be held at the company’s cafeteria. This minimizes the cost of serving expensive food and drinks to all and reduces the administrative nightmare of organizing the event. To many people, the office canteen gives off a homey atmosphere and makes it easy for all workers to immediately report back to work.

Five, summarize and circulate the key points of the meeting. This must be done by the HR department. If necessary, additional comments by the CEO or any top official in attendance may be inserted in the minutes of meeting even after the event with the result also announced via the Intranet and posted on the bulletin board.

Last, issues raised during the celebration must be resolved promptly. This does not mean, however, that the resolution comes on the spot or management must give in to the employee complaints. In most cases, if management appears sincere in explaining the reasons for a certain issue or corporate policy, many will accept it under certain circumstances.

PROACTIVE COMMUNICATION
In examining the objective of having a Birthday Club alongside a town hall meeting, it is enough to understand that all workers, even supervisors and managers, are keen on regular interaction with top management. As part of good proactive communication with employees, a Birthday Club becomes a monthly, if not a semi-monthly opportunity to engage employees.

The suggested pointers are not complete and may be adjusted to suit organizational taste and capacity. But they go above and beyond the mechanical act of sending birthday cards, while raising the complication of satisfying each and every question of the workers. Whatever approach you take, don’t forget the biggest obstacle in improving organizational communication is for all line executives to possess active listening skills.

ELBONOMICS: The single, most important management skill is active listening.

 

Send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

History talking


IN COMMEMORATION of the 75th Anniversary of the Battle of Manila, the Memorare Manila Foundation together with the Philippine World War 2 Memorial Foundation present Massacre of Manila: Untold Stories of The Battle of Manila 1945, a series of short videos featuring a retelling of survivor stories as narrated by leading film and theatre actors. The stories are testimonies of massacre survivors taken by US military investigators beginning June 1945. The stories will be narrated by Ian Veneracion, Jasmine Curtis Smith, Angel Aquino, Iza Calzado, Agot Isidro, Enchong Dee, Gabby Padilla, Leo Rialp, and Richard Cepeda. The videos will premiere on March 3 on Memorare Manila’s FB page @memoraremanila1945.

How PSEi member stocks performed — February 27, 2020

Here’s a quick glance at how PSEi stocks fared on Thursday, February 27, 2020.

Palace orders agencies to eliminate ‘burdensome’ transaction processes

PRESIDENT Rodrigo R. Duterte ordered government agencies to eliminate all processes that are “burdensome to the public,” retaining only those steps that are “necessary to fulfill their legal mandates and policy objectives.”

In Administrative Order (AO) No. 23 dated Feb. 21 but released Thursday, the President said that “excessive regulations at all levels of government, which are more than necessary to implement their respective mandates, create high costs on businesses, inhibit job creation and discourage private sector investment.”

AO 23 claims authority in part from the Anti-Red Tape Act of 2007, which governs “all government offices and agencies including local government units and government-owned or controlled corporations that provide frontline services.”

The AO called all processes that are superfluous to the bare minimum to meet legal mandates “manifestations of overregulation” which must be removed.

The AO stipulates that approval processes for energy projects continue to be governed by timelines set by Republic Act 11234, or the Energy Virtual One-Stop Shop Act.

Mr. Duterte also ordered the Anti-Red Tape Authority (ARTA) to monitor the compliance of government agencies with order, in coordination with each government office’s Anti-Red Tape Unit.

All covered agencies are required to submit compliance reports within 60 working days, outlining the regulations governing their frontline services, transaction steps and processing times, and the legal basis for such regulations.

Non-compliant agencies will be referred to the Civil Service Commission (CSC) for administrative action.

In 2018, Mr. Duterte also signed into law Republic Act 9485 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, which simplifies government transactions and sets application approval deadlines.

The Philippines placed 95th in the World Bank 2020 Ease of Doing Business report released in 2019, rising from 124th place the year prior. — Gillian M. Cortez