MAP 2019 ANNUAL REPORT As of November 22, 2019

MAP THEME FOR 2019

“SHAPING A COMPETITIVE FUTURE”

In line with its mission of promoting management excellence for nation-building, the MAP focused in 2019 on the following priority programs in order to help shape a competitive future for the country:

1. Advocacies to improve ease of doing business and Philippine competitiveness 2. Programs to improve human capital in the country, such as teachers training, promoting STEM (Science, Technology, Engineering and Math) to students, and professional development and continuing education projects in partnership with educational institutions 3. Initiatives to promote inclusive growth and sustainability, like financial literacy, encouraging the growth of SMEs, nurturing startups and caring for the environment.

PRIORITY PROGRAMS FOR 2019

The MAP focused on the following three (3) priority programs in 2019:

1. Improve ease of doing business 2. Improve human capital 3. Promote inclusive growth and sustainability

EASE OF DOING BUSINESS

The MAP conducted the following activity in line with its Ease of Doing Business advocacy:

1. JULY 24, 2019 GMM on “Learnings from Singapore’s Approach to Economic growth: Opportunities and Challenges” with Mr. KAI FONG CHNG, Managing Director of Economic Development Board (EDB) Singapore

(l-r) Prof. POCH MACARANAS, Mr. KAI FONG CHNG and MAP President RIZA MANTARING Page 1 of 63

HUMAN CAPITAL

The MAP conducted the following activities in line with its Human Capital advocacy:

1. AUGUST 22, 2019 GMM on “Managing Multiple Generations in the Workplace” with the following speakers:

1.1 Mr. RAINERIO “Bong” M. BORJA, President for Asia, Alorica 1.2 Ms. GILDA LOURDES “Gilda” G. DEL ROSARIO, Country Head, Chief Administrative Officer and SVP, Wells Fargo Enterprise Global Services LLC-Philippines 1.3 Ms. MICA F. TAN, President and CEO, MFT Group of Companies

(l-r) MAP Human Capital Committee (HCC) Vice Chair MON SEGISMUNDO, MAP HCC Member FAYE CORCUERA, Ms. GILDA DEL ROSARIO, Ms. MICA TAN, Mr. BONG BORJA and Ms. RIZA MANTARING

2. SEPTEMBER 24, 2019 MAP-PMAP Joint GMM on “Understanding the Millennial Workforce”

2.1 Mr. RONALDO “Ron” BATISAN, AVP for Costumer Experience Group of UnionBank 2.2 Mr. PAULO CAMPOS, CEO of Zalora Philippines 2.3 Mr. DAE LEE, Managing Partner of The Fourth Wall 2.4 Ms. STEPHANIE SY, Founder and CEO of Thinking Machines 2.5 Ms. CRYSTAL JOY "Tata" VISTAL, Sustainability Specialist of Ayala Corporation

(l-r) PMAP President GERRY PLANA, Prof. POCH MACARANAS, Mr. RON BATISAN, Mr. PAULO CAMPOS, Mr. DAE LEE, Ms. STEPHANIE SY, Ms. TATA VISTAL, Ms. FAYE CORCUERA and MAP President RIZA MANTARING.

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INCLUSIVE GROWTH

The MAP conducted the following activity in line with its Inclusive Growth advocacy:

1. JUNE 24, 2019 GMM on “Promoting Inclusive Growth” with Usec. ROWENA CRISTINA “Gev” L. GUEVARA, Undersecretary for Research and Development of the Department of Science and Technology (DOST)

(l-r) MAP President RIZA MANTARING, Usec. GEV GUEVARA and MAP Innovations Committee Chair MATTHEW ESCOBIDO

MEMBER BENEFITS

1. APRIL 16 MAP GOLF CUP FOR CSR 2019

1.1 As approved by the MAP Board, the first 50% (P1 Million) of the net proceeds of the MAP Golf Cup financed the following MAP’s CSR programs:

1.1.1 MAP’s Teachers Training Program --- MAP-AIM Management Educators Workshop (MEW) - P 250,000 1.1.2 MAP EMERGE (Educated Marginalized Entrepreneurs Resource GEneration) Program - 250,000 1.1.3 Case Book Project - 350,000 1.1.4 Children’s Hour - 150,000 TOTAL - P1,000,000

1.2 The other 50% (P1 Million) went to the MAP’s Sports Development Program which aims to enhance the winning chances of Filipino athletes by helping develop competent local coaches.

(l-r) MAP Sports, Fellowship and Wellness Committee (SFWC) Co-Vice Chair PENG PEREZ DE TAGLE, BusinessMirror Golf Editor MIKE BESA, MAP President RIZA MANTARING and MAP SFWC Chair RAC CAGURANGAN

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The Winners . . .

2. MAP’S P1 MILLION DONATION FOR FILIPINO ATHLETES AND COACHES

The MAP donated P1 Million for the training of selected Philippine athletes and coaches in relation to their participation in this year’s SEA games.

The amount of P640,000 was given directly to the following: 2.1 Pole Vaulter Ernest John Uy Obiena - P300,000 2.2 Weightlifter Hidilyn Diaz - P200,000 2.3 Track and Field athlete Kristina Marie Knott - P140,000

MAP gave P30,000 each to the following 12 coaches for a total of P360,000: 2.4 Eduardo Banajera Buenavista 2.5 Jeoffrey San Pedro Chua 2.6 Dario Viguilla De Rosas 2.7 Joebert Catalan Delicano 2.8 Arniel Benedicto Ferrera 2.9 Danilo Gaurino Fresnido 2.10 Sean Peteza Guevara 2.11 John Lebuna Lozada 2.12 Julius Felicisimo Jadulco Nierras Jr. 2.13 Emerson Obiena 2.14 George Noel Villanueva Posadas 2.15 Reynato Garcia Unso

3. JULY 31, 2019 (MAP NETWORKING FELLOWSHIP NIGHT FOR NEW MAP MEMBERS INDUCTED IN 2018 AND 2019

(l-r) MAP Membership Committee’s Sub-Committee on Membership Retention and Involvement Chair GRACE TIONGCO, MAP President RIZA MANTARING and MAP Membership Committee Member MARIA RONSON

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4. OTHER MAP GMMs

4.1 FEBRUARY 18, 2019 MAP Economic Briefing and MAP General Membership Meeting (GMM) with Ms. RONG QIAN, World Bank Senior Economist for the PHL

(l-r) BPI Family Savings Bank President GINBEE GO (emcee), Ms. RIZA MANTARING, Ms. RONG QIAN and BPI VP and Lead Economist JUN NERI (Q&A Moderator)

4.2 MARCH 18, 2019 GMM on “NEW VOICES FOR THE SENATE – Part 1: A Business Forum for First-time National Candidates” with Otso Diretso GARY ALEJANO, CHEL DIOKNO, SAMIRA GUTOC and FLORIN HILBAY

(seated l-r) Senatoriables GARY ALEJANO, CHEL DIOKNO, SAMIRA GUTOC, and FLORIN HILBAY (standing l-r) MBC Executive Director COCO ALCUAZ, MBC Trustee JOEY CUISIA, FINEX President EBOT TAN, PCCI Bacolod LGU Awards Chair JOSE ALEJANDRO, MBC Trustee RAMON DEL ROSARIO, JR., MAP President RIZA MANTARING, MBC Chair ED CHUA and MBC Trustee LITO TAYAG. Page 5 of 63

4.3 APRIL 23, 2019 GMM on “INNOVATION-DRIVEN SUSTAINABLE GROWTH: Beyond The Hype of Digital Transformation” with Mr. ALESSANDRO PUCCIO, Consulting Digital & Innovation Manager of Accenture (Singapore)

(l-r) MAP President RIZA MANTARING, Mr. ALESSANDRO PUCCIO and ATRAM Trust Corporation Managing Director and Head of ATRAM Wealth MARCY KOHCHET CHUA (Emcee and Q&A Moderator)

4.4 APRIL 29, 2019 FINEX-MAP Joint GMM on “BSP: The New Roadmap to a Globally Competitive Economy and Stable Financial System” with Gov. BENJAMIN “Ben” E. DIOKNO of the Bangko Sentral ng Pilipinas (BSP)

(l-r) MAP President RIZA MANTARING, BSP Gov. BEN DIOKNO and FINEX President EBOT TAN

4.5 MAY 21, 2019 MAP – JRI Joint GMM on “Judicial Reform for a Competitive Future” with Supreme Court Chief Justice LUCAS BERSAMIN

(l-r) MAP VP and JRI Secretary FRANCIS LIM, MAP President RIZA MANTARING, Chief Justice LUCAS BERSAMIN, JRI President JENG PASCUAL Page 6 of 63 and JRI Chair Baby Nuesa

4.6 JUNE 7, 2019 JOINT GMM on Fiscal and Economic Priorities Post Mid-Term Elections with Secretary CARLOS “Sonny” G. DOMINGUEZ III of the Department of Finance (DOF)

Representatives of the following participating organizations: ALYANSA AGRIKULTURA, BANKERS ASSOCIATION OF THE PHILIPPINES (BAP), FINANCIAL EXECUTIVES INSTITUTE OF THE PHILIPPINES (FINEX), FOUNDATION FOR ECONOMIC FREEDOM (FEF), INSTITUTE OF CORPORATE DIRECTORS (ICD), INVESTMENT HOUSE ASSOCIATION OF THE PHILIPPINES (IHAP), JUDICIAL REFORM INITIATIVE (JRI), MAKATI BUSINESS CLUB (MBC), NATIONAL REAL ESTATE ASSOCIATION (NREA), ORGANIZATION OF SOCIALIZED HOUSING DEVELOPERS OF THE PHILIPPINES (OSHDP), PHILIPPINE CHAMBER OF COMMERCE & INDUSTRY (PCCI), PHILIPPINE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (PICPA) and MAP.

4.7 OCTOBER 18, 2019 MAP - MBC Joint Testimonial Lunch for Outgoing Supreme Court Senior Associate Justice ANTONIO CARPIO

(l-r) MBC Trustee JOEY CUISIA, Associate Justice ANTONIO CARPIO and MAP President RIZA MANTARING

4.8 OCTOBER 22, 2019 GMM on “Best Practices in Local Governance: Model Leader in Action” with Manila City Mayor FRANCISCO “Isko Moreno” DOMAGOSO

(l-r) MAP VP FRANCIS LIM, MAP Secretary CAROL DOMINGUEZ, MAP President RIZA MANTARING, Mayor ISKO MORENO, MAP Treasurer DICK DU-BALADAD and MAP Gov. SAY TETANGCO Page 7 of 63

5. APR 30, 2019 BDO FORUM ON “STAY ACTIVE: INVESTING FOR A COMFORTABLE RETIREMENT”

MAP members were requested to participate in the April 30 (Thursday) BDO Forum on “Stay Active: Investing for a Comfortable Retirement”.

6. JUNE 18, 2019 3RD APAC REIT INVESTMENT SUMMIT 2019

MAP participated as Endorsing Industry Partner for the 3rd APAC REIT Investment Summit 2019 which will be held on June 18, 2019 at The Tent at Solaire.

Aptly themed “REIT: BLUEPRINT FOR A ROBUST PHILIPPINE CAPITAL MARKETS,” and with an expected turnout of over 200 industry professionals, the Summit – designed to be the country’s premier business gathering for chief property experts and players from across the region – is committed to deliver thought leadership and high quality audience making this landmark event a superb platform to:

CONNECT with potential investors ESTABLISH business partnerships GATHER latest market insights LEARN from industry leaders and think tanks

7. JUNE 25, 2019 GORRICETA AFRICA CAUTON & SAAVEDRA “LAW & TECH SUMMIT 2019: LEGAL AND REGULATORY FRAMEWORKS ON EMERGING AND DISRUPTIVE TECHNOLOGIES 2019”

MAP accommodated the request of Gorriceta Africa Cauton & Saavedra for MAP to be a Partner for the “LAW & TECH SUMMIT 2019: Legal and Regulatory Frameworks on Emerging and Disruptive Technologies 2019.”

The Summit will be held on June 25, 2019, Tuesday, from 1:00 PM to 6:00 PM at the Dusit Thani Hotel.

The request for them to include the MAP logo in their collaterals was made via the March 11, 2019 letter from Gorriceta Africa Cauton & Saavedra Managing Partner MARK S. GORRICETA, thru MAP Corporate Governance Committee Vice Chair Ida Tiongson.

8. SEPTEMBER 29, 2019 BALLET PHILIPPINES 50TH ANNIVERSARY GALA

MAP participated as Partner for the Ballet Philippines’ 50th Anniversary Ball to be held on September 29, 2019 at the Cultural Center of the Philippines. MAP sponsored two tables at P100,000 each.

The request for MAP’s participation and contribution was relayed to MAP through Ballet Philippines Ex-officio Trustee and 50th Anniversary Ball Chair MARGIE MORAN FLOIRENDO.

The proceeds of the Ball will be earmarked for Scholarship and Outreach programs that ensure the long-term and consistent training of young dancers.

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9. HARVARD BUSINESS REVIEW FREE 3-MONTH TRIAL SUBSCRIPTION FOR MAP MEMBERS AND THEIR EMPLOYEES

As part of Member Benefits, MAP members and their employees were given a FREE 3-month subscription to HBR Ascend (https://hbrascend.org), a digital learning platform from Harvard Business Review (HBR) for young professionals and graduating students.

An initiative by the Harvard Business Publishing Incubator, HBR Ascend was conceptualized to guide graduating students and young professionals in emerging markets on acquiring and sharpening the skills necessary for the early stages of their career. The idea is to share with young professionals the best of management practices from top business leaders both here and abroad to get them work-ready and to deal with everyday work challenges.

HBR Ascend is a digital-first platform and offers experts’ practical advice centered around skills most critical for success at the workplace. The 5 essential areas it focuses on are:

1. Jobs and Careers 2. Personal Growth 3. Working Smarter 4. Managing and Leading 5. Being Happy at Work

10. MAP’S PARTICIPATION AS PARTNER FOR THE NOVEMBER 8, 2019 INTERNATIONAL COACH FEDERATION (ICF) INTERNATIONAL COACHING SUMMIT WITH THE THEME: “ENGAGE, EMPOWER, EXCEL!” AT THE CONRAD HOTEL

10.1 MAP participated as Partner of the International Coach Federation (ICF) for the November 8, 2019 ICF’s INTERNATIONAL COACHING SUMMIT on “Engage, Empower, Excel!” at the Conrad Hotel.

10.2 The speakers were: 10.2.1 Ms. EILEEN MCDARGH, CSP, CPAE - ranked #1 of the World’s Top 30 Communication Gurus following a global survey of 22,000 business professionals by the British research firm Global Gurus.

10.2.2 Dr. MARCIA REYNOLDS, PhD, MCC - ranked #3 coach in the world, following a global survey of 22,000 business professionals by the British research firm Global Gurus. She is a founding member and the 5th global president of the International Coach Federation (ICF).

10.2.3 Mr. REZA RAHMANI - In his role as an HR executive in a Canada-based company, Reza co-created a coaching and leadership development program that increased leadership effectiveness results by 300%, reduced employee turnover by 100%, and improved employee engagement levels by 25%.

10.2.4 Ms. JOAN COOK - the lead for executive coaching and consulting support at Ernst & Young, one of the biggest accounting firms in the world.

10.2.5 Dr. SHERRY YELLIN - worked with leaders within a variety of industries, public and private, domestic and international for 20 years now.

10.3 MAP announced the ICF event to MAP members through the MAP’s weekly enewsletter, The MAP MEMO. Page 9 of 63

PROGRAMS

1. SEPTEMBER 10 – 17th MAP INTERNATIONAL CEO CONFERENCE 2019 on “THE FUTURE OF BUSINESS: Sustainability, Developmemt, Impact”

1.1 The MAP conducted the 7th MAP International CEO Conference on September 10, 2019 at the Rizal Ballroom of the Makati Shangri-La.

1.2 The speakers and their topics were the following:

Keynote Speaker:

1.2.1 Eur Ing. HENRY K. H. WANG (Hong Kong), President, Gate International Ltd., on “Business Sustainability Impacts & Future Developments”

Engr. WANG … with Dr. POCH MACARANAS

SESSION 2 - “The New Fortune at the Bottom of the Pyramid”

1.2.2 Ms. DEEPA PRAHALAD (USA), Co-Author of “Predictable Magic: Unleash the Power of Design Strategy to Transform Your Business”

Ms. PRAHALAD … with PWC Consulting Managing Principal. BENJ AZADA Page 10 of 63

SESSION 3 - “How sustainability practices impact shareholder value”

1.2.3 Mr. ANDREW WK CHAN (Malaysia), Sustainability & Climate Change Leader, PwC’s South East Asian Consulting Services

Mr. CHAN . . . with Mr. CESAR ROMERO

SESSION 4 - “DOING THE UNTHINKABLE” (A Panel Discussion)

1.2.4 Ms. GEORGIANNA “George” E. CARLOS (Philippines), Pack Leader, Fetch! Naturals

1.2.5 Mr. ILLAC DIAZ (Philippines), Founder, Liter of Light Foundation

1.2.6 Ms. JEANNIE E. JAVELOSA (Philippines), Representative, GREAT Women

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1.2.7 Bro. GEORGE MARIA (Philippines), Consultant, Yamang Bukid

(l-r) MAP Conference Committee Vice Chair ALMA JIMENEZ, Yamang Bukid Consultant Bro. GEORGE MARIA, GREAT Women Representative JEANNIE E. JAVELOSA, Liter of Light Foundation Founder ILLAC DIAZ, Fetch! Naturals Pack Leader GEORGE CARLOS and MAP Conference Committee Governor-in- Charge DICK DU-BALADAD.

SESSION 5 - “How Top Tier Companies Across the Globe Create Organizational Excellence”

1.2.8 Ms. DEANNA MURPHY (USA) Founder and CEO, People Acuity and Mr. STEVE JEFFS (USA) Chief Innovation Officer, People Acuity

Mr. STEVE JEFFS and Ms. DEANNA MURPHY … with Prof. MATTHEW ESCOBIDO

1.3 The Conference had an attendance of 540.

1.4 It was viewed simultaneously all over the country via live streaming by 2,500 students and about 200 teachers from 11 universities and colleges.

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2. PwC – MAP Survey on “THE FUTURE OF BUSINESS: Sustainability, Development, Impact” for the September 10 MAP International CEO Conference 2019

2.1 The MAP and the PricewaterhouseCoopers (PwC) Philippines/Isla Lipana & Co. conducted a CEO Survey for the September 10 MAP International CEO Conference 2019, which was entitled “THE FUTURE OF BUSINESS: Sustainability, Development, Impact.” The Survey was done via an online questionnaire as well as field interviews.

2.2 The survey was the fifth of a series of annual CEO Surveys in the Philippines conducted by the MAP Conference’s KNOWLEDGE PARTNER, ISLA LIPANA & CO., a member firm of PwC, and was envisioned to benchmark the changes in how CEOs think, react and innovate.

2.3 MAP and PwC provided insights and jumpstart discussions that will help in expanding the arsenal of strategies and options available for business leaders to survive the Fourth Industrial Revolution.

2.4 Eighty percent (80%) of the CEOs expect to change their production/service model in the next three to five years to promote more sustainable practices. This shift in focus towards sustainability surfaced as Isla Lipana & Co./PwC Philippines (PwC), in the PwC MAP 2019 CEO Survey, asked the CEOs about their views on sustainability and the changes that they need to make to address the issues that we are facing.

2.5 The survey, conducted by PwC for the 17th MAP (Management Association of the Philippines) International CEO Conference that will be held on 10 September 2019 at the Makati Shangri-La Hotel, reflects the conference’s theme, “The Future of Business: Sustainability. Development. Impact.” MAP President Riza Mantaring says that the conference “focuses on the playing ground for competitiveness and sustainability in the future, which is in the arena of doing good, not just looking good; in purpose, not just profits; in driving social change, not just shareholder value.”

2.6 Atty. Alexander Cabrera, PwC Philippines’ Chair and Senior Partner, is optimistic as the number of CEOs who use sustainable practices in the companies is on the rise. “While most are still using the traditional practices related to energy use and recycling, a good number have plans of shifting to a circular business model.” As profitability and sustainability are no longer mutually exclusive, he adds, “A profitable business is not necessarily good business if it does not lead to ‘good’ growth, which is sustainable and empathetic.”

2.7 While majority of the CEOs fully support sustainable business practices, they identified high transition costs, inadequate technology, and economic viability as the main factors that are preventing them from fully adopting sustainable practices. Benjamin Azada, PwC Philippines’ Consulting Managing Principal, admits: “Transitioning to a circular model brings in costs related to management, research and development, and infrastructure. Our business leaders, however, should realize that the circular economy is a long-term strategy that helps address the serious environmental and business risks that we are facing.”

2.8 “We thank the 127 CEOs who have shared their insights with us,” says Atty. Cabrera. He concludes, “Sustainability should be embedded in all of our business activities and decisions.”

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To know who these CEOs are and their stories, download the full report for free at www.pwc.com/ph/ceosurvey.)

(l-r) PwC Consulting Managing Principal BENJ AZADA, MAP President RIZA MANTARING, PwC Chair and Senior Partner ALEX CABRERA, MAP Conference Committee Members CHARLIE VILLASEŃOR and FERN PENA

3. “ANC SPECIALS: MAP LEGACY SERIES”

3.1 The MAP has partnered with ANC for the “ANC Specials: MAP Legacy Series” which features a 90-second video on the management and leadership traits of the following “MAP Management Man of the Year” awardees:

3.1.1 Mr. HENRY SY, SR. (MMY 1999) – passed away on Jan. 19, 2019 3.1.2 Dr. GEORGE S. K. TY (MMY 2006) – Nov. 24, 2018 3.1.3 Mr. WASHINGTON Z. SYCIP (MMY 1967) – Oct. 8, 2017 3.1.4 Mr. DAVID M. CONSUNJI (MMY 1996) – Sept. 4, 2017 3.1.5 Amb. ALFONSO T. YUCHENGCO (MMY 1992) – April 17, 2017 3.1.6 Gov. GABRIEL C. SINGSON (MMY 1998) – Mar. 29, 2016

3.2 The MAP Legacy Series Project is a follow-up to the MAP Book on the Management Man of the Year Awardees entitled “WINNING: Management Lessons Outside the Classroom” which presented inspirational stories on their leadership traits and management practices.

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4. DECEMBER 3 MAP CHRISTMAS PARTY 2019

The December 3 Christmas Party will have “HAWAII SEVEN-O” as the theme.

The Red Picasso Band will provide the music for the celebration.

5. MAP CEO ACADEMY

The MAP CEO Academy continues to serve as the umbrella brand for all of MAP’s educational activities for the continuing education and sharing of the latest technologies and information on management and leadership among MAP members and other management practitioners.

5.1 MARCH 22, 2019 PCCI – MAP TAX SEMINAR

5.1.1 The speakers and topics were:

5.1.1.1 “Court Decision Updates” - Justice JUANITO CASTAÑEDA, JR., Associate Justice, Court of Tax Appeals 5.1.1.2 “Tax Amnesty Act of 2019” - Atty. CARLOS CARADO, III, Partner, Isla Lipana & Co./PwC 5.1.1.3 “Tax Filing Reminders in compliance to the TRAIN Law” - Atty. LUIS JOSE FERRER, Partner, SGV & Co., Member, PCCI Tax Committee

(l-r) PCCI Tax Committee Chair and MAP Tax Committee Member TAMMY LIPANA, former ECOP President ED LACSON, PCCI President BING LIMJOCO, Isla Lipana & Co./PwC Partner CARLOS CARADO, III, and SGV & Co., Partner and Tax Head LUIS JOSE P. FERRER

5.2 MARCH 26, 2019 ICD-FINEX-IIAP-JRI-MBC-MAP-SHAREPHIL JOINT FORUM ON "REVISED CORPORATION CODE: Changes and Challenges"

5.2.1 The following were the topics and speakers:

5.2.1.1 Keynote Speech - Sen. FRANKLIN M. DRILON, Minority Floor Leader, Senate of the Philippines Page 15 of 63

5.2.1.2 Changes in the creation, formation, organization and dissolution of corporations - Atty. CESAR L. VILLANUEVA, Founding Partner of Villanueva & Gabionza; Fellow of Institute of Corporate Directors (ICD) and Chair of MAP Corporate Governance (CG) Committee

5.2.1.3 Changes in management and administration of corporations – Atty. FRANCISCO “Francis” ED. LIM, Senior Partner of ACCRALAW; President and Trustee of SharePHIL; Vice President and Governor of MAP; Director of Financial Executives Institute of the Philippines (FINEX), and Fellow of ICD.

5.2.1.4 Panel Discussion and Open Forum to be moderated by Ms. IDA CENIZA TIONGSON, Trustee of ICD; Vice Chair of MAP CG Committee

(l-r) SharePHIL Programs Committee Chair BOOTS GARCIA, Senate of the Philippines Director for Legislation Atty. ALU DOROTAN-TIUSECO, ICD President FRED PASCUAL, SEC Chair EMILIO AQUINO, MAP CG Committee Vice Chair IDA TIONGZON, ICD Chair FRANCIS ESTRADA, MAP CG Committee Chair CESAR VILLANUEVA and SHAREPHIL President FRANCIS LIM

5.3 JUNE 29, 2019 ROADSHOW IN GERMANY ON “INVEST IN AND RECRUITMENT FROM THE PHILIPPINES”

The MAP Trade, Investments and Tourism Committee organized the “Invest in and Recruitment from the Philippines” Roadshow which was held in Berlin, Germany on June 29, 2019 and was hosted by Ambassador MA. THERESA B. DIZON-DE VEGA at the Philippine Embassy in Berlin.

MAP Trade, Investments and Tourism Committee Governor-in- MAP Women Committee Chair Charge CAROL DOMINGUEZ CRISTINA CONCEPCION Page 16 of 63

5.4 August 14, 2019 MAP-PCCI Joint Tax Forum 2019

Speakers and topics include the following:

1. Key features of the EODB Act and its implementation - Director-General of the Anti-Red Tape Authority (ARTA), Atty. JEREMIAH B. BELGICA

2. Reforms on BIR's policies, procedures and practices to align with the EODB Law - BIR Director TERESITA M. ANGELES

3. Key issues on the implementation or availment of the Delinquencies and Estate Tax Amnesties – BIR Regional Director MARIDUR ROSARIO

Atty. CARLOS CARADO III, MAP Tax Committee Governor-in-Charge DICK DU- BALADAD, PCCI President BING LIMJOCO, ARTA Director-General JEREMIAH B. BELGICA, MAP President RIZA MANTARING, ECOP President SERGIO ORTIZ- LUIS, JR., Ms. AMBE TIERRO and MAP Ease of Doing Business Committee Chair TAMMY LIPANA

5.5 SEPTEMBER 27, 2019 MAP – ASEAN Society Philippines JOINT FORUM ON “ASEAN IN THE MIDST OF CHANGING GLOBAL DYNAMICS: The Journey to a Shared Future Together”

5.5.1 The topics and the presentors are:

5.5.1.1 “The Changing Global Dynamics: Outlook Amidst Tensions and Dissensions” - MR. ABDUL ABIAD, Director, Macroeconomic Research Division, Economic Research and Regional Cooperation (ERRC) Department, Asian Development Bank (ADB)

5.5.1.2 “The Impact, Risks and Opportunities in the ASEAN Region” - MS. CYN- YOUNG PARK, Director, Regional Cooperation and Integration Division, ERRC Department, ADB

5.5.1.3 “The State of ASEAN Integration: Is There a Competitive Advantage?” - MR. ALFREDO PERDIGUERO, Director, Regional Cooperation and Operations Coordination Div., Southeast Asia Department, ADB

5.5.2 Reactors were Mr. KHIM KANAL, Chargé d'Affaires a.i., Royal Embassy of Cambodia, and Mr. CHRISTIAN L. LAURON, Partner, SGV & Co.

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5.5.3 Moderator were GMA Network Broadcast Journalist HOWIE SEVERINO and MAP Ease of Doing Business Committee Member JUNIE DEL MUNDO.

(l-r) MAP Ease of Doing Business Committee Vice Chair and ASEAN Society Philippines President ALMA JIMENEZ, MAP CEO Conference Committee Chair JUNIE DEL MUNDO, Mr. ABDUL ABIAD, ASEAN Society Philippines Chair DELIA ALBERT, Ms. CYN-YOUNG PARK, Mr. ALFREDO PERDIGUERO, Mr. HOWIE SEVERINO and Mr. CHRISTIAN L. LAURON

5.6 OCTOBER 10, 2019 MAP - FCC FORUM ON "INSPIRED CONVERSATIONS: NOTHING LEFT UNSAID"

5.6.1 The joint forum on “INSPIRED CONVERSATIONS: NOTHING LEFT UNSAID” brought together a community of inspiring and visionary Movers and Makers. The Forum will celebrate women’s achievements and will galvanize a new generation of women to use their energy to create positive change in the world.

5.6.2 The Plenary speakers for “Fearless” were the following: 5.6.2.1 Mayor Isko Moreno – Mayor, City of Manila 5.6.2.2 Mica Tan –CEO, MFT Group 5.6.2.3 Maria Ressa–CEO Rappler 5.6.2.4 Xyza Bacani–Documentary Photographer

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5.6.3 THE FUTURE IS ME: Building Your Personal BRAND Moderator: Coco Alcuaz, Executive Director, Makati Business Club

Angela Dinglasan, President, Zenutrients Lovi Poe, Movie Actress Zarah Juan, Social Entrepreneur

5.6.4 THE NEW GIRL BOSS: The Quiet Revolution: Rise of the Introverted Leader

Session Moderator HANS MONTENEGRO, Happy Concept Group HAPPY ONGPAUCO, Burst&Bees General Manager EMMA ATKINSON and FCC Chair SHARON DAYOAN

5.6.5 WOMEN POWERING TECH: ALL FIRED UP:Women Who START-UP

Session Moderator DIANE EUSTAQUIO, SALT Co-Founder and CEO AISA MIJENO, Senti TechLabs Co-Founder and Head of Research CHARIBETH CHENG, AskGina Founder MENCH DIZON, Mobile Optima Founder RIO PALABRICA-ILAO and Accenture Philippines Technology and Global Artificial Intelligence Capability Lead AMBE TIERRO.

5.6.6 WOMEN IN OTHER PLACES: Women in Public Service

Session Moderator MAAN HONTIVEROS, Makati City Mayor ABIGAIL BINAY, Former Foreign Affairs Secretary DELIA ALBERT, Philippine Center for Islam and Democracy President AMINA RASUL, and former Zambales Congresswoman MITOS MAGSAYSAY Page 19 of 63

5.6.7 IN CONVERSATION

Moderator: Ayhee Campos, Country Head, Infosys BPO Limited 1:1 Fireside Chat with Xyza Bacani, Photographer, Filipina Street Photography

Moderator: Karen Roa, President and CEO, First Metro Asset Management 1:1 Fireside Chat with Mica Tan, Chief Executive Officer, MFT Group of Companies

5.6.8 WOMEN IN OTHER PLACES: Women in Entrepreneurship

Moderator: Chit Juan, Co Founder, Echostore and GREAT Women

Jeannie Javelosa, Co Founder, EchoStore and GREAT Women Marcy Kohchet-Chua, Managing Director & Wealth Head, ATRAM Trust Corp. Imelda Dagus, Founder, Dennis Coffee Garden Manny Ayala, Managing Director, Endeavor

5.6.9 Choice and Possibility

Moderator: Boom Gonzales, Host / Anchor

Aya Fernandez, Founder and President, Project Lily Philippines Ice Idanan, Director / Cinematographer Brooke Castillo, Captain Pilot, Cebu Pacific

5.6.10 Own The Room

(l-r) MDI Chief Operations Advisor AGNES GERVACIO, Motivational Speaker and Executive Coach TONI MIRANDA, Cultural Center of the Philippines Chair MARGIE MORAN and Clorox Int’l. Phils. President MARITES DAGDAG.

5.6.11 WOMEN EMPOWERMENT IN THE NEW

Session Moderator AMBE TIERO, Women Who Code Manila’s MICHIE ANG, Accenture Accent of Tech Woman’s JENNY HANS, Witech Woman in Tech AUDREY PE, Accenture Employee and For the Woman Foundation Scholar MIKHA MATA and For the Page 20 of 63 Women Foundation Chair CARA WILSON.

5.6.12 Women Paying It Forward

Session Moderator MARIVIC ANOÑUEVO, Consuelo Foundation Managing Director MIA CASTRO, Ayala Foundation Senior Executive Director JOANA DUARTE and Hands on Manila VP for Corporate Affairs GIANNA MONTINOLA.

5.6.13 WOMEN HELPING WOMEN: Women in Wellness

Moderator: Lexi Schulze, News Anchor, ANC

Dr. Lia Bernardo, The Happiness Doctor Kate Moynihan Gonzales, Health Coach El Abela - BioHacker, Human Potential Coach

5.6.14 WOMEN HELPING WOMEN: Women and Personal Finance

Moderator : Nabbie Alejo, Chairman, BPI Direct BanKO

Julia Abad, Executive Director, PBCWE Belen Pujol, Financial Advisor, Insular

5.7 October 15, 2019 MAP Start-Up Investment Pitch 2019

(l-r) MAP President RIZA MANTARING, MAP Trade, Investments and Tourism Committee (TITC) Governor-in-Charge CAROL DOMINGUEZ, MAP TITC Vice Chair PAOLO AZURIN, Mr. JORGE YULO, Mr. LUIS LIMLINGAN, Ms. JIKYEONG KANG and MAP TITC Chair VINCE ABEJO Page 21 of 63

(l-r) Hybrid Social Solutions President and Founder JIMMY AYALA, Cropital CEO RUEL AMPARA, InvestEd CEO CARMINA BAYOMBONG, R-Tap/Hiraya Water CEO STEPHEN LARCIA

(l-r) Front Learners CEO for Marketing ELAINE DE VELEZ, Edukasyon.ph CEO and Founder HENRY MUNOZ, Taxumo EJ ARBOLEDA and TarkieFounder and CEO RIO ILAO

ADVOCACIES

Good Governance

1. ICD – MAP CASE BOOK PROJECT

The MAP supported the book entitled “Corporate Governance in Practice – A Case Book” which is a project of the Institute of Corporate Directors or ICD.

The book is a compendium of business cases that present real-life situations across various sectors. They involve the application of corporate governance principles in addressing challenges faced by corporate boards and directors. Most of the cases are set in the Philippines but some are in an international setting.

2. SUPPORT TO PPCRV AND NAMFREL

In line with the MAP’s advocacy for credible elections, MAP and some of its members made cash donation to the Parish Pastoral Council for Responsible Voting (PPCRV) and the National Citizen’s Movement for Free Elections (NAMFREL).

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3. MAP’S MEMBERSHIP IN THE PHILIPPINE QUALITY AWARD (PQA) COMMITTEE

MAP Assistant Treasurer CESAR ROMERO was appointed by the MAP Board as the MAP representative to the Philippine Quality Award (PQA) Committee.

The PQA is an integrated approach for performance management that sets the standard of excellence to help Philippine organizations achieve world-class performance. Established in 1998 and institutionalized in 2001 through R.A. 9013 also known as the Philippine Quality Award Act, it uses a set of criteria that provides local organizations with an integrated, results-oriented framework in implementing and assessing processes and it is patterned after the US Baldrige Performance Excellence Program.

4. 8th FORUM OF ARANGKADA PHILIPPINES ON “TURNING ON THE T.A.P. (Tourism, Agribusiness and Power)”

4.1 MAP co-sponsored the November 21 ARANGKADA Forum 2019 which the MAP has been supporting for the past seven consecutive years.

4.2 The theme this year was “TURNING THE T.A.P. (Tourism, Agribusiness and Power).”

4.3 The ARANGKADA is the major advocacy—launched in 2010—of the Joint Foreign Chambers (JFC) to increase investment and employment in the Philippines.

5. CREATION OF NEW MAP COMMITTEES FOR 2019

In order to better support the MAP Program for the Rehabilitation and Development of the Laguna Lake (LL) for Water Security and Eco-Tourism and the LL clean-up efforts and priorities outlined by DENR Secretary ROY A. CIMATU, the MAP Board of Governors has approved the creation of the following three new Committees:

1. WATER SECURITY 2. SUSTAINABLE DEVELOPMENT 3. URBAN DEVELOPMENT

The MAP Board has also created the following fourth Committee in order to engage MAP members under 40 years old:

4. NEXTGEN Committee

6. CREATION OF MAP AD HOC COMMITTEE ON INNOVATIONS

The Board created a MAP Ad Hoc Committee on Innovations whose primary mandate will be to pursue the Innovations Ecosystem partnership of DOST and MAP.

7. MAP – MBC Executive Outlook Survey 2019

MAP members were asked to respond to the MAP - MBC Executive Outlook Survey (EOS) 2019 for the 2nd Semester of 2019. The Survey focused on the performance of key government agencies and institutions for the period July 2018 to June 2019. The results of past Executive Outlook Surveys have been used by government agencies to gauge their performance.

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The following are the key highlights of the EOS and Results:  100 top executives responded representing 100 corporations (19 from MAP, 81 from MBC).  Respondents were asked whether they were satisfied or not with the performance of 69 government agencies and offices in the past year (July 2018-June 2019)  Survey was administered from 19 June 2019 to 22 July 2019 (12nn).

Top 10 Agencies with Highest 'Satisfied' rating in percentage: 1. Bangko Sentral ng Pilipinas (97%) 2. National Economic and Development Authority (85%) 3. PAGASA (84%) 4. Department of Trade and Industry (83%) 5. Philippine Statistics Authority (81%) 6. Department of Finance (80%) 7. Board of Investments (80%) 8. Department of Tourism (79%) 9. Armed Forces of the Philippines (79%) 10. (Tied) Securities and Exchange Commission / Philippine Economic Zone Authority (78%)

Bottom 10 Agencies with Least 'Satisfied' rating in percentage: 69th Metropolitan Waterworks and Sewerage System (21.9%) 68th Bureau of Customs (27.6%) 67th House of Representatives (28%) 66th Department of Agriculture (28.4%) 65th Presidential Communications Operations Office (32.3%) 64th Bureau of Immigration (33.7%) 63rd Climate Change Commission (35.2%) 62nd Department of Agrarian Reform (36.8%) 61st Metro Manila Development Authority (37.9%) 60th Lower Court System (38.9%)

8. UPDATED MAP POLICY IN ADDRESSING NATIONAL ISSUES

8.1 At its July 24, 2019 meeting, the MAP Board approved the Revised MAP Policy in Addressing National Issues.

8.2 Except in situations where the Board deems it necessary to make a statement, the Board should still have that leeway if in its judgment it is important to do so. A majority vote of the Board is needed for this purpose.

8.3 MAP should minimize being involved in political issues (especially the controversial ones), except those that have direct substantial impact on business.

8.4 The Board agreed that all future Committee Chairs and Vice Chairs should always be reminded that once the MAP Board makes a decision, they should consider it as the position of the MAP as an organization. Even if they have a different opinion, they should always respect the decision of the MAP Board.

8.5 Here below is the Revised MAP Policy in Addressing National Issues:

1. DETERMINATION OF NATIONAL ISSUES

1.1. MAP should take proactive stance (instead of reactive). Page 24 of 63

1.2. MAP should focus on issues related to management excellence and good governance. MAP should not get involved in other issues, especially partisan political issues.

1.3. MAP should select important issues that have DIRECT and SUBSTANTIAL impact on business and do one or both of the following: 1.3.1. raise to government’s attention 1.3.2. monitor until final resolution

1.4. MAP should limit issues to those where changes could be achieved.

1.5. If the chosen issue DIRECTLY affects a particular industry, the MAP will NOT issue a Statement UNLESS the concerned industry ARTICULATES OR HAVE ARTICULATED its own position THROUGH A PUBLIC STATEMENT.”

1.6. MAP should work with other Philippine Business Groups (PBGs) and Joint Foreign Chambers (JFCs) in urging Congress to pass important legislation. If it is necessary to be represented in a hearing in Congress, the MAP should send a member who is very knowledgeable on the subject.

1.7. In addressing national issues, MAP has two options: 1.7.1. Take a Stand/Position through a Statement, News Release or Other Means 1.7.2. Do not take a position as an organization and be silent on the issue. (Members could articulate their individual stands if they want to).

2. PROCESS

2.1 Planning

2.1.1 Any national issue should be referred to the National Issues Committee (NIC) for study/evaluation. The recommendation of the NIC, if any, will then be presented to the MAP Board for approval. 2.1.2 It will be up to the NIC if a Quick Survey should be conducted among members to determine the general sentiment of the membership on a given issue. However, prior to the conduct of the survey, the MAP Board should be advised by the NIC. 2.1.3 The NIC should involve other committees, if necessary. 2.1.4 The NIC should present to the Board the proposed Statement for approval.

2.2 Execution

2.2.1 The NIC should review all MAP statements on issues which shall be submitted to Board for approval 2.2.2 If issue is politically or socially sensitive, the Board may survey the membership. 2.2.3 The Board’s substantial changes on the recommended MAP statement, if any, should be discussed with the NIC before finalization of the statement. 2.2.4 The Board may disapprove the NIC recommendation. 2.2.5 Both the NIC and the Board must schedule special meetings to achieve timeliness in making statements. 2.2.6 Statements must contain positive action, including the role of MAP. 2.2.7 If MAP has to take a stand/position on a certain national issue within a very short period of time (i.e., within 48 hours), the 2/3 vote of the MAP Board of Governors --- with comments/recommendations from the Chair of the NIC, whenever possible --- will be implemented by the MAP Secretariat. 2.2.8 As much as possible, MAP should do its own thorough study and stand on a certain issue.

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2.2.9 If MAP is invited by other PBGs and JFCs to co-sign a particular statement, the NIC should meet to discuss thoroughly the given issue before making its recommendation to the MAP Board. 2.2.10 MAP should not endorse or nominate individuals for government positions. The MAP Board shall determine the final position of the MAP and the members are expected to act accordingly as MAP members and help promote the organization’s effectiveness in expressing its position on important and relevant issues.

9. MAP DATA PRIVACY NOTICE

9.1 At its July 24, 2019 meeting, the Board approved the MAP Data Privacy Notice which was edited by ACCRALAW through the courtesy of MAP Vice President Francis Lim.

9.2 Here below is the MAP’s DATA PRIVACY NOTICE.

Adherence to Data Privacy Act

The Management Association of the Philippines (MAP) recognizes its responsibilities under the Republic Act No. 10173, or the Data Privacy Act of 2012, its implementing rules and regulations, and the official circulars and issuances of the National Privacy Commission (collectively referred to herein as “Privacy Laws”) in protecting the privacy and security of personal data collected from MAP members and non-members who attend MAP events. MAP adheres to the principles and complies with the data privacy practices provided in the Privacy Laws.

Collection of Personal Data

MAP collects personal information from MAP members, such as name, position, organization, office address, telephone number, mobile number, email address, gender, date of birth, education, among other personal information. MAP also collects personal information from non-members who attend MAP events, such as name, position, organization, office address, mobile number and email address.

The personal data collected by MAP are entered and stored within the MAP’s authorized information and communications system and are only accessed by authorized MAP employees.

Processing of Personal Data

The data collected and stored in the MAP database are used only for the following purposes under certain conditions as required by the Data Privacy Act: (1) Promotion of activities sponsored or supported by MAP; (2) Inviting MAP members and non-members to participate in MAP’s activities and advocacy programs; and (3) Determining the profile of the MAP membership.

Non-Disclosure of Personal Data

MAP does not disclose personal information without the consent of MAP members or concerned non-members, or in any circumstance not authorized by the Privacy Laws. Page 26 of 63

MAP retains the data from MAP members as long as they continue their membership in the MAP and those from non-members as long as they continue attending MAP activities; but in any event not longer than two years from the date of termination of membership (in case of a MAP member) or one year from date the last activity attended (in case of a non-member).

Security of Personal Data

MAP implements reasonable and appropriate physical, technical, and organization security measures to protect the personal information from unauthorized access, processing, use, or disclosure.

Rights of the Data Subjects; Updates and Inquiries

MAP respects and recognizes the rights of MAP members and non-members as data subjects under the Privacy Laws. MAP members and non-members may request for an updating, rectification or amendment of their personal data, as well as reach us in case they have any concerns as to how MAP processes personal information or on this Privacy Policy, by contacting MAP’s Data Protection Officer.

For more information on the data processing and protection measures implemented by MAP or for any concerns relative to your personal information, you may contact MAP’s Data Protection Officer thru the following:

E-mail: [email protected] Letter: The Data Protection Officer MANAGEMENT ASSOCIATION OF THE PHILIPPINES Unit 608, 6th Floor, Ayala Tower One Ayala Triangle, Ayala Avenue, Makati City Call : +632-751-1152

10. SCORECARD

Objectives Measures Baselines Actual (2018) (2019) Membership Increase total MAP Membership 1,045 1,060

Increase the average attendance for 240 208 MAP GMMs

Increase Turnout for the Nomination of 20% 22% MAP Governors for 2020 – 2021

Increase Turnout for the Election of 38.5% 31% Governors for 2020 – 2021

Decrease the Overall Average Age of 57.3 57.9 Regular Members

61.1 61.9 Page 27 of 63

Objectives Measures Baselines Actual (2018) (2019) Decrease the Overall Average Age of All Members

Expanded Social Media Coverage

Advocacy Pursue the priority programs for the

Programs year

Financial Increase the Overall Net Income: P3.0 M P7.4 M Objectives Ensure that the MAP Conference will P4.35 M P3.34 M earn at least P5.0 Million

Ensure that at least 120 new MAP members will be inducted this year 115 53

Organization, Continue using Slido to allow MAP People members to easily submit their Development questions and express their opinion by voting on live polls.

11. PAPER-LESS BOARD AND COMMITTEE MEETINGS

11.1 As approved by the 2018 MAP Board of Governors on July 4, 2018, the Board continued having paper-less Board meetings in 2019. Hard/printed copies of the agenda materials were not distributed anymore.

11.2 The Committees started having paper-less meetings in 2019.

Global Competitiveness

12. MAP’S MEMBERSHIP IN THE AAMO

12.1 The AAMO is a partnership of National Management Organizations (NMOs) in the Asian Region whose purpose is to share and actively leverage resources to enhance the achievement of their respective missions. AAMO is an independent, non-political and not-for-profit Association of NMOs, which promotes, facilitates and supports the development of professional management in the Asia Pacific Region.

12.2 The present AAMO members are:

Countries NMOs 12.2.1 Australia - Institute of Managers and Leaders (IML) 12.2.2 Hong Kong - Hong Kong Management Association (HKMA) 12.2.3 India - All India Management Association (AIMA) 12.2.4 - Macau Management Association (MMA) 12.2.5 Malaysia - Malaysian Institute of Management (MIM) 12.2.6 Nepal - Management Association of Nepal (MAN) 12.2.7 New Zealand - Institute of Management of New Zealand (IMNZ) 12.2.8 Pakistan - Management Association of Pakistan (MAP) Page 28 of 63

12.2.9 Philippines - Management Association of the Philippines (MAP) 12.2.10 Sri Lanka - Institute of Management of Sri Lanka (IMSL)

12.3 MAP Past President (2013) Mel Salazar represented the MAP in the AAMO Council meetings on: (a) February 27, 2013 in Lahore, Pakistan; (b) September 5 – 6, 2013 in Macau; (c) April 7, 2014 in Canberra, Australia; (d) October 6-9, 2015 in Makati City; and (e) April 19-21, 2016 in Kuala Lumpur (KL), Malaysia.

12.4 Former MAP International Affairs Committee Vice Chair Charlie Villaseňor attended the AAMO Council meetings on: (a) October 13-14, 2011 in Vietnam; (b) April 23-24, 2012 in Singapore; (c) October 6-9, 2015 in Makati City; (d) April 19-21, 2016 in KL, Malaysia; and (e) April 20-22, 2017 in KL, Malaysia.

12.5 MAP Past President (2011) Jun Palafox represented the MAP in the AAMO Council meetings on: (a) September 6-10, 2007 in Kolkata, India; (b) October 16-18, 2008 in Tokyo, Japan; and (c) April 13-15, 2011 in Macau.

12.6 MAP President Riza Mantaring was appointed to be the MAP representative in the AAMO Council for 3 to 5 years or from 2019 to 2022. The AAMO Council serves as the Board of Directors of the Asian Association of Management Organizations (AAMO).

12.7 MAP Executive Director Arnold Salvador attended the AAMO Council meetings on: (a) October 6-9, 2015 in Makati City, (b) April 3-5, 2018 in Macau, and (c) October 23-25, 2019 in Sydney, Australia.

12.8 The MAP will be hosting the AAMO second Council meeting in March or April 2021.

13. JAPAN’s “YOUNG LEADERS PROGRAM (YLP) 2018”

The MAP continues to be a Recommending Authority for the Philippines for the “Young Leaders Program (YLP)” of the Japan Ministry of Education, Culture, Sports, Science and Technology and the Japan Information and Culture Center.

The YLP offers promising young business and government leaders from Asian and other countries the opportunity to study in Japan at a Master’s level at Hitotsubashi University Graduate School of International Corporate Strategy.

The primary objectives of the YLP are to:

1. Foster future national leaders in the countries of Asia and other regions 2. Create comprehensive human networks among the leaders of nations 3. Establish friendly relationships among the countries involved, including Japan 4. Improve the quality of policy planning in the participating countries

The MAP-endorsed applicants that were chosen as scholars are the following:

2018

1. Ms. SHERYL ODITA ABRAJANO, Bank Officer IV, Bangko Sentral ng Pilipinas (BSP) 2. Mr. CHEYENNE FRANCIS BILALAY BATNAG, Manager, PHINMA Energy Corporation 3. Mr. JESTHER IAN TEVES GONZALES, Manager, PricewaterhouseCoopers Consulting Services Philippines Co. Ltd. 4. Ms. NERELYN SAUSA MONTUYA, Planning Manager, BDO Unibank Inc. Page 29 of 63

2019

1. Mr. JOAQUIN LORENZO VASQUEZ ARAULLO, Campaigns and Production Lead, PLDT Inc. 2. Ms. KATHERINE LA ARNIE BUERA MALAYLAY, Treasury Manager (promoted), Philippine Investment Management (PHINMA), Inc. 3. Mr. LOREMAR ESTABILLO MARCIAL, Revenue Manager, Phinma Hospitality Inc. - Coralway City Hotel Corporation (Microtel Philippines) 4. Ms. ALYSSA LOREN HIPOLITO TUNGOL, Lubricants Technical Support Specialist, Pilipinas Shell Petroleum Corporation

Alternates 5. Ms. SHEENA MAE AMODIA SOCO, Consulting Specialist, Willis Towers Watson 6. Mr. ROMEO SALAO LIAMZON III, Administrative Assistant V, Philippine Department of Tourism

The MAP endorsed the following for the 2020 Young Leaders Program:

1. Mr. JONATHAN NUNAG ABAD, Returns Analyst, Knoll Ridges Consultancy, Inc. (Glaxosmithkline Based) 2. Mr. JEREMY AQUINO ARCEO, Senior Accountant, Cloudstaff Philippines, Inc. 3. Ms. JENNY BANAL BIACORA, Owner, Jenny Bacora Administrative Services 4. Ms. LORRAINE GRACE BUMAKIL CALICA, Senior Business Analyst, Acquire Asia Pacific (Phils.) Inc. 5. Ms. RIZZA CALO-OY CASIŃO, Human Resources Manager, Alfamart Trading Phils.,Inc. 6. Mr. MARCIANO ARISTOTLE ANDALUZ DE BORJA, Department Head (Manager), Aboitizpower – Therma Marine, Inc. 7. Mr. PAUL LORENZO GARCIA DE GUZMAN, Marketing Officer I, BB International Leisure & Resort Development Corp. 8. Ms. JANIS MYRTLE PALMA DELOS REYES, Senior Accountant, Tax, AECOM Philippines, Inc. 9. Ms. JEANNETTE BABADILLA ESGUERRA, Director for Sales and Marketing/Business Development, Peregrin Group of Companies 10. Mr. XAVIER BAUTISTA FERNANDEZ, Chief Engineer – Oil Loss, Petron Corporation 11. Mr. JOHN RAPHAEL DE GUZMAN FULGAR, Revenue Growth Lead, Coca-Cola Beverages Philippines, Inc. 12. Ms. ESTHER MARIE VILLARICA GALVEZ, Business Development Manager, PHINMA Education Holdings, Inc. 13. Ms. LINSAY ANNE MARTINEZ HICBAN, Junior Accountant, BC Accounting Solutions 14. Ms. CHARMAINE JOY UY HWAN, Senior Marketing and Partnerships Officer, Paymaya Philippines, Inc. 15. Ms. CHARLENE BAUL MAGHINANG, Senior Tax Specialist, PRICEWATERHOUSE COOPERS (PWc) SDC MANILA 16. Mr. GERALD OCAMPO MICLAT, Internal Audit Supervisor, Donggwang Clark Corporation 17. Mr. NEIL VINCENT MAYORMITA MONSALUD, Sales Officer – Investment and Corporate Sales, Pinnacle Real Estate Consulting Services, Inc. 18. Ms. LOURENE NAZARETA RAMAS, Credit Risk Control Officer – Junior Assistant Manager, Bank of Commerce 19. Ms. JAMIE ANGELICA TUMARONG RAMONEDA, Executive Services Specialist 1, Cloudstaff Modern Workforce, Inc.

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20. Mr. LAURENCE CRISTOPHER LUGTU RUELO, Senior Manager, Scrubbed.Net Global Services Inc. 21. Ms. SHEENA MAE AMODIA SOCO, Lead Associate, Willis Towers Watson 22. Ms. MARIANE ASHLEY JUNTILLA UY, Project Manager, SYMPH 23. Ms. MELVIC SALUDEZ VASQUEZ, Account Officer, Development Bank Of The Philippines (DBP) 24. Ms. ANJANNETTE BOGNOT WAJE, Manager, Ernst and Young Global Delivery Services (CS) Philippines

14. THE REPORT: THE PHILIPPINES 2019

14.1 The MAP continued its media partnership with the Oxford Business Group (OBG) in developing “THE REPORT: The Philippines 2019.”

14.2 Here below is the link, for a preview of The Report:

https://oxfordbusinessgroup.com/philippines-2019

Inclusive and Sustainable Growth

15. CHILDREN’S HOUR ANNUAL BENEFIT LUNCH 2019

15.1 The MAP continued to support the Children’s Hour by sponsoring a table for its Annual Benefit Lunch held on March 12 at the Fairmont Hotel.

15.2 The MAP has been sponsoring the Children’s Hour since 2004 and has been active in providing educational and health needs for the Foundation’s beneficiaries, and the MAP has consistently encouraged its members to support the worthy projects of Children’s Hour.

15.3 The MAP has been conducting an annual MAP Golf Cup for CSR to generate funds for Children’s Hour and MAP’s other CSR programs.

15.4 MAP’s participation in the Children’s Hour reaffirms MAP’s continuing involvement in helping address the education and health needs of the youth that would effectively harness their potentials as productive and responsible citizens.

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16. MANAGEMENT EDUCATORS WORKSHOP

16.1 The objectives of the Management Educators Workshop (MEW) are to:

16.1.1 Bring together management practitioners and teachers so that the latter would know what the employers want of future managers

16.1.2 Help Philippine schools of management improve their school curricula, course content and teaching practices as well as teach their students how to respond to the fast changing demands of customers, clients, citizens and other stakeholders

16.1.3 Address the following key challenges for modern management: 16.1.3.1 innovative techniques for teaching management 16.1.3.2 greater practitioner orientation in management education and training 16.1.3.3 involving management practitioners in education

16.1.4 Propagate excellence in management education and help prepare the country for the challenges of global competition.

16.2 The MEW was launched in 1992 in Cebu and has been held in the following cities, among others: Baguio, Cagayan de Oro, Cebu, Davao, Iloilo, Manila and Zamboanga.

16.3 On May 27 and 28, 2019 MAP conducted a very successful MAP - AIM Management Educators Workshop in Tuguegarao, Cagayan. The host partner school was the St. Paul University Philippines or SPUP. 16.4 The speakers and their topics were:

16.4.1 “DISRUPTIONS IN MANAGEMENT EDUCATION” 16.4.1.1 Dr. DONALD PATRICK “Donald” LIM, Chair, MAP Communications Committee; CEO, Dentsu Aegis Network (DAN) Philippines

16.4.2 “INNOVATIONS AND EXPECTATIONS FROM INDUSTRIES: Inputs to Enrich Curriculum Development”

Manufacturing 16.4.2.1 Ms. OLIVIA “Olive” LIMPE-AW, President and CEO, Destileria Limtuaco and Company, Inc.

ICT 16.4.2.2 Ms. HELEN P. MACASAET, Chair, MAP ICT Committee; former ICT Consultant, Supreme Court of the Philippines; Chair and CEO, Pentathlon Systems Resources, Inc.

Health and Tourism 16.4.2.3 Usec. ALMA RITA “Alma” R. JIMENEZ, Vice Chair, MAP Ease of Doing Business Committee; former Undersecretary, Department of Tourism (DOT); President and CEO, Health Solutions Corporation

Accountancy 16.4.2.4 Mr. JESSIE C. CARPIO, Co-Vice Chair, MAP Management Development Committee; Division Head, Audit & Assurance, P&A Grant Thornton Page 32 of 63

Agribusiness 16.4.2.5 Mr. OSCAR A. TORRALBA, Co-Vice Chair, MAP Agribusiness Committee; Chair, CHED Technical Panel for Business and Management Education Programme (includes Accountancy, Tourism, Entrepreneurship, Business Administration, Custom Administration, Real Estate Services, HRM); CEO, Kaltimex Group Phil and TREES (Total Renewable Energy and Efficiency Solutions)

16.4.3 Workshop 1: “Introduction to the Tools of the Fourth Industrial Revolution” 16.4.3.1 Prof. MATTHEW GEORGE “Matthew” O. ESCOBIDO, Chair, MAP Management Development Committee; CEO, conceptblocks; Adjunct Professor, Asian Institute of Management (AIM)

16.4.4 Workshop 2: "SKILLS MISMATCH: Industrial Revolution 4.0 and Educ. 2.0" 16.4.4.1 Dr. FEDERICO “Poch” M. MACARANAS, Adjunct Professor, AIM

16.5 The MEW 2019 had 128 representing the following 18 educational institutions:

16.5.1 Cagayan State University – Andrews 16.5.2 Cagayan State University – Aparri 16.5.3 FL Vargas College 16.5.4 International School of Asia and the Pacific (ISAP) 16.5.5 Isabela State University – Cabagan 16.5.6 John Wesley College 16.5.7 La Sallette of Roxas College, Inc. 16.5.8 Lyceum of Aparri 16.5.9 Lyceum of Tuao 16.5.10 Medical Colleges of Northern Philippines (MCNP) 16.5.11 Our Lady of Pillar College – Cauayan 16.5.12 Our Lady of Victories Academy 16.5.13 Quirino State University – Cabarroguis 16.5.14 St. Anthony’s College 16.5.15 St. Paul Hospital – Tuguegarao 16.5.16 St. Paul University Philippines 16.5.17 University of La Salette – Santiago City 16.5.18 University of St. Louis Tuguegarao

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17. MAP DIALOGUES WITH GOVERNMENT OFFICIALS AND BUSINESS LEADERS

17.1 The objective of the Dialogues is to provide a venue for interacting with government and the business community in a collaborative way to help advance the improvement of the working environment for Philippine business.

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17.2 The Series featured the following in 2019:

17.2.1 FEBRUARY 21, 2019 MAP TAX COMMITTEE’S COURTESY CALL ON BIR COMMISSIONER CAESAR DULAY

(standing l-r) Mr. ARNOLD SALVADOR, Atty. WILLIE VILLANUEVA, Dr. TITO ORTIZ, Mr. MON ABREA, Mr. OSCAR TORRALBA, Mr. EDDIE YAP (seated l-r) Ms. TAMMY LIPANA, Atty. DICK DU-BALADAD, Comm. CAESAR DULAY, Atty. NOEL BONOAN and Deputy Commissioner ARNEL GUBALLA.

17.2.2 MARCH 27, 2019 MAP Dialogue with DOST Usec. ROWENA CRISTINA L. GUEVARA

(seated l-r Dr. CORA CLAUDIO, Usec. GEV GUEVARA, Mr. OSCAR TORRALBA and Ms. HELEN MACASAET (standing) Ms. CAROL DOMINGUEZ, Prof. MATTHEW ESCOBIDO, Prof. POCH MACARANAS and Mr. ARNOLD SALVADOR

17.2.3 APRIL 12, 2019 MAP Dialogue with Usec. ERNESTO V. PEREZ, Deputy Director- General (DDG) of the Anti-Red Tape Authority (ARTA)

(standing l-r) Mr. MON ABREA, Ms. HELEN MACASAET, Mr. ED AMISTAD, Mr. ED PANGAN, Mr. JJ MORENO, Ms. IDA TIONGZON, Mr. LEONARDO TAPIA, Ms. JEN BAÑAGA and Mr. ARNOLD SALVADOR. (seated l-r) Atty. DICK DU-BALADAD, Ms. ALMA JIMENEZ, Ms. TAMMY LIPANA, Usec. ERNESTO PEREZ, Ms. RIZA MANTARING and Mr. RUY MORENO. Page 35 of 63

17.2.4 APRIL 26, 2019 MAP Dialogue with DOTr Usec. MARK RICHMUND DE LEON

(l-r) Mr. ARNOLD SALVADOR, Mr. JORGE YULO, MR. EDDIE YAP, Usec. MARK DE LEON, Mr. RUY MORENO, Ms. RIZA MANTARING, Dr. TOTO ESTUAR and Mr. THAD LIAMZON

17.2.5 JUNE 20, 2019 MAP Dialogue with Mr. JOEY ROI BONDOC, Senior Manager for Research Colliers International Philippines

(seated l-r) Ms. SHIELA LOBIEN, Ms. RIZA MANTARING, Ms. CAROL DOMINGUEZ, Mr. JOEY ROI BONDOC, Mr. VINCE ABEJO and Mr. PAOLO AZURIN (standing l-r) Mr. RUY MORENO, Mr. JORGE YULO, Dr. ERNIE ORDOŃEZ, Mr. MIGUEL BENGZON, Mr. ROMY DAVID, Mr. DOM ANDAYA, Mr. JJ MORENO, Mr. ED AMISTAD, Dr. LUIS CALINGO, Mr. AJ BACANI and Mr. ARNOLD SALVADOR

17.2.6 JULY 4, 2019 MAP Dialogue on “Corporate Governance (CG) Reforms and Strengthening SEC Powers to Promote CG under the Revised Corporation Code” with Atty. TERESITA J. HERBOSA Of Counsel, ACCRALAW Former Chair, Securities and Exchange Commission (SEC)

(seated l-r) Atty. CESAR VILLANUEVA, Atty. TERESITA HERBOSA, MS. IDA TIONGZON and Ms. HELEN MACASAET (standing l-r) Mr. JESSIE CARPIO, Atty. NOEL BONOAN, Atty. FRANCIS LIM, Ms. JUDITH LOPEZ, Mr. JUN CUARESMA, Ms. BOOTS GARCIA, Atty. TEDDY KALAW, Dr. LUIS CALINGO, Mr. JP ORBETA and Mr. ARNOLD SALVADOR Page 36 of 63

17.2.7 JULY 9, 2019 MAP Dialogue on “DPWH’s Ongoing and Planned Projects for NCR and Nationwide” with Usec. MARIA CATALINA E. CABRAL Department of Public Works and Highways (DPWH)

(seated l-r) Dr. CORA CLAUDIO, Mr. JORGE YULO, Usec. MARIA CATALINA CABRAL, Mr. RUY MORENO and Arch. NESTY ISLA (standing l-r) Mr. ARNOLD SALVADOR, Mr. VINCE ABEJO, Mr. FERN PEŃA, Mr. PENG PEREZ DE TAGLE, Mr. SIXTO BENEDICTO, Mr. THAD LIAMZON, MR. ED AMISTAD and Mr. ROMY DAVID

17.2.8 JULY 12, 2019 MAP Dialogue on “Revisiting Rizal Province as a Potential Vegetables (Food) Basket for Metro Manila” with Mr. ARSENIO “Toto” BARCELONA President, Harbest Agribusiness Corporation

(seated l-r) Amb. CHUCHING TAMBUNTING, Mr. ED AMISTAD, Mr. TOTO BARCELONA, Dr. CORA CLAUDIO and Mr. JOE SIMEON (standing l-r) Atty. BILL PAMINTUAN, Mr. MANNY CUASAY, Mr. ITO CARLOS, Mr. ROLLY DY, Mr. OSCAR TORRALBA, Mr. DANNY FAUSTO, Mr. OBET ROBES and Mr. ARNOLD SALVADOR

17.2.9 AUGUST 7, 2019 Dialogue of MAP and its Partners for the PRD-LLW (Program on Reforestation with Development for the Laguna Lake Watershed) with PEZA Director-General CHARITO B. PLAZA

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17.2.10 SEPTEMBER 3, 2019 MAP Breakfast Dialogue on Addressing Port Congestion with Mr. RUPERTO S. BAYOCOT, Chair, Confederation of Truckers Association of the Philippines (CTAP)

(seated l-r) Cong. TONG PAYUMO, Ms. MARY ZAPATA, Mr. BERT LINA, Mr. RUPERTO BAYOCOT, Mr. RUY MORENO, Mr. GLICER SICAT, and Arch. NESTY ISLA (standing l-r) Atty. RYAN SPONILLA, Mr. CHARLITO VILLANUEVA, Mr. JEFF ALWARD, Mr. ROMY DAVID, Mr. FERN PEŃA, Mr. FRED PARUNGAO, Mr. RAOUL VILLEGAS, Mr. TITUS REYES , Dr. TOTO ESTUAR, Mr. RENE ALMENDRAS and Mr. ARNOLD SALVADOR

17.2.11 SEPTEMBER 25, 2019 Benita and Catalino Yap Foundation (BCYF) – MAP Breakfast Dialogue on “Anti-Corruption and Business Conducts Anchored on CSR 3.0” with Ms. ANGELA JOO-HYUN KANG Founder and Executive President Global Competitiveness Empowerment Forum (GCEF)

(seated l-r) Mr. TONY YAP, Gov. SAY TETANGCO, Ms. ANGELA JOO-HYUN KANG, Mr. ED AMISTAD and Ms. RIENA PAMA (standing l-r) Mr. ARNOLD SALVADOR, Ms. JOANNA ARMENTA, Mr. OSCAR TORRALBA, Mr. ED TORDESILLAS, Mr. JUN CUARESMA , Mr. RAOUL VILLEGAS, Atty. ED PANGAN, Mr. JOSE VILLANT JR., Ms. HELEN MACASAET and Mr. MIGUEL PUYAT

17.2.12 OCTOBER 2, 2019 MAP Dialogue on “The Five Pillars of Medical Tourism” with Ms. MARILEN TRONQUED-LAGNITON Former SVP for Patient Experience and Marketing Group St. Luke’s Medical Center QC and BGC

seated (l-r) Ms. KAREN DE ASIS, Dr. CORA CLAUDIO, Mr. VINCE ABEJO, Ms. MARILEN TRONQUED-LAGNITON, Mr. PAOLO AZURIN, Ms. MARGIE MORAN-FLOIRENDO and Dr. POCH MACARANAS. standing (l-r) Ms. NENA ALCUAZ-REYES, Mr. OSCAR TORRALBA, Mr. JJ MORENO, Mr. RUY MORENO, Mr. JORGE YULO, Dr. CIEL HABITO, and Mr. BRIAN SANTOS, Ms. ROBYNNE ALBANIEL, and Mr. ARNOLD SALVADOR Page 38 of 63

18. JRI (JUDICIAL REFORM INITIATIVE)

18.1 The MAP continued supporting the JRI with Ms. Sherisa Nuesa as Chair and Mr. Jeng Pascual as President.

18.2 Led by four major business organizations in the Philippines - - - the Financial Executives Institute of the Philippines, the Institute of Corporate Directors, the Makati Business Club, and the MAP - - - the principles and objectives of JRI were first envisioned in September 2012 to push for reforms in the administration of justice and serve as the voice of business in identifying problem areas and solutions in the systems and processes of the judicial and prosecutorial agencies of government

19. SEARCH FOR HOMETOWN HEROES

19.1 The MAP participated as Supporting Organization for the Nationwide Search for Filipino Hometown Heroes of the Benita & Catalino Yap Foundation (BCYF).

19.2 Launched in 2017, the Nationwide Search stresses that Citizenship is about following the Golden Rule and the laws of the nation, and trying to be an everyday hero in your purok, barangay, town or city that everyone knows has a positive impact on their neighborhood.

19.3 At the Local Level, the Search taps the local school and community leaders down to the barangay to identify and evaluate those who have consistently been of help to his/her place; examples of consistent volunteerism, social impact and positive Filipino values.

20. EARTH HOUR

20.1 The MAP supported the March 30, 2019 EARTH HOUR.

20.2 The Earth Hour is observed by turning off all lights and electrical appliances at home and at work for one hour.

20.3 The Earth Hours aims to switch social power to climate change and to promote biodiversity conservation across the world.

21. ENABLING TEACHERS AND GOVERNMENT OFFICIALS TO LEARN FROM MAP SPEAKERS/MEMBERS

21.1 The MAP continued inviting university/college teachers and government officials to provide them the opportunity to interact with MAP members and other business leaders and management practitioners in every GMM.

21.2 It is MAP’s main expectation that the teachers and the government officials will learn from the insights of MAP members and from the presentations of the speakers in the MAP GMMs.

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22. MAP’S PERMANENT AND ALTERNATIVE REPRESENTATIVES TO THE PHILIPPINE STATISTICS AUTHORITY (PSA) BOARD OF GOVERNORS

22.1 MAP has been chosen by the Philippine Statistics Authority (PSA) to be Private Sector Representative to the PSA Board from June 16, 2018 to June 16, 2021.

22.2 The PSA is an attached agency of the National Economic Development Authority.

22.3 The PSA aims to deliver relevant, reliable statistics and civil registration services for equitable development towards improved quality of life for all.

22.4 MAP’s Permanent Representative in the PSA is MAP Governor Say Tetangco with former MAP Governor Peter Wallace and MAP Ease of Doing Business Committee Vice Chair Alma Jimenez as alternate representatives.

23. MAP REPRESENTATIVES TO THE JULY 1, 2019 PRE-SONA FORA AT THE PICC

MAP President Riza Mantaring represented the MAP to the following pre-SONA events on July 1, 2019 at the PICC:

23.1 2019 Pre-SONA Economic and Infrastructure Forum on Game-Changing Reforms for Sustainable Development (9:00 AM to 12:00 Noon)

23.2 2019 SULONG Pilipinas Consultative Workshop to provide feedback on the government’s progress in achieving its Zero-to-10 Point Socioeconomic Agenda (1:30 PM to 5:00 PM)

24. PHILIPPINE BUSINESS GROUPS (PBGS) AND JOINT FOREIGN CHAMBERS

The MAP continued working with othe PBGs and JFCs in pushing for the following Key Reform Measures of the Duterte Administration:

24.1 Public Service Act Amendments 24.2 Water Reform Act 24.3 TRAIN 24.3.1 TRAIN 2: TRABAHO 24.3.2 TRAIN 2+: Mining, Excise tax on Tobacco and Alcohol products 24.3.3 TRAIN 3: Property Valuation and Assessment 24.3.4 TRAIN 4: Capital Income and Financial Taxes 24.4 National Land Use Act 24.5 Foreign Investments Act 24.6 Retail Trade Liberalization Act 24.7 Anti-Dynasty Law 24.8 Law strengthening the Judiciary

25. ADVOCACY FOR COMPULSORY INCLUSION OF COLLEGE STUDENTS AS REGISTERED VOTERS

25.1 At its May 21, 2019 meeting, the Board noted that only 30% of the millennials/youth who are qualified to vote have actually been included in the COMELEC list of registered voters for the May 13, 2019 Mid-Term Elections. Page 40 of 63

25.2 In this regard, the Board felt that it might be a good advocacy for MAP to push for the compulsory inclusion of college students as registered voters.

25.3 The Board agreed that MAP should explore the possibility of requesting a Congressman and a Senator to sponsor a bill for this purpose.

PROGRAMS FOR MANAGEMENT EXCELLENCE

1. “MAP MANAGEMENT MAN OF THE YEAR 2019”

1.1 The MANAGEMENT ASSOCIATION OF THE PHILIPPINES (MAP) announced recently the selection of Mr. NESTOR V. TAN, President and CEO of BDO Unibank, Inc., as the recipient of the “MAP Management Man of the Year 2019” award.

1.2 Mr. Tan was chosen for the following: 1.2.1 for steering BDO to being consistently ranked by the global financial community as among the best-managed banks in the Philippines;

1.2.2 for transforming BDO into a full-service universal bank with subsidiaries in leasing, trust, stock brokerage, private banking, rural banking and insurance, among others;

1.2.3 for his leadership role in the substantial contributions of the BDO Group to national development through job creation and income generation;

1.2.4 for his contribution to the long-term development of a financial-literate citizenry by promoting financial inclusion, particularly among teachers, soldiers, OFWs and the Filipino youth;

1.2.5 for choosing to apply his international experience towards the development of the local banking industry;

1.2.6 for ensuring that the Filipino community receives efficient banking and financial services and for preparing a roadmap for the development of banking and the capital market in the future as President of the Bankers Association of the Philippines; and

1.2.7 for setting an example for Filipino professional managers through a track record of integrity, professional competence and strong leadership in his banking career.

1.3 The search for “MAP Management Man of the Year” is one of the MAP’s vehicles in promoting management excellence for nation-building.

1.4 For almost five decades since 1967, the MAP has been conducting an annual search for “MAP Management Man of the Year” to recognize a person of exceptional distinction in the practice of management over a significant period of time.

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1.5 The “MAP Management Man of the Year” is a prestigious award that MAP bestows on individuals in the business community or government for attaining unquestioned distinction in the practice of management and for contributing to the country’s progress. The conferment of the award follows a thorough, stringent selection process. The distinction of “MAP Management Man of the Year” has only been conferred 40 times in the five decades history of the award.

1.6 The criteria for the award include integrity, leadership, and management qualities; contribution to nation building and values formation; effective stewardship within the confines of the highest standard of business and management practice; among others.

1.7 The roster of “MAP Management Man of the Year” awardees include: Washington Z. SyCip (1967), Geronimo Z. Velasco (1977), Henry A. Brimo (1978), Jose M. Soriano (1979), Cesar E.A. Virata (1981), Jaime V. Ongpin and Vicente T. Paterno (1982), Dante G. Santos (1983), Cesar A. Buenaventura and Roberto T. Villanueva (1985), Jaime Zobel de Ayala (1987), Ramon V. del Rosario, Sr. (1988), Jose B. Fernandez, Jr. (1989), Raul T. Concepcion (1990), Oscar J. Hilado (1991), Alfonso T. Yuchengco (1992), Juan B. Santos (1994), David M. Consunji and Rizalino S. Navarro (1996), Gabriel C. Singson (1998), Delfin L. Lazaro and Henry Sy, Sr. (1999), Oscar M. Lopez (2000), Tony Tan Caktiong (2002), Jesus P. Tambunting (2003), Rafael B. Buenaventura (2004), Manuel V. Pangilinan (2005), George S. K. Ty and Jaime Augusto Zobel de Ayala (2006), Jose L. Cuisia Jr. (2007), Antonino T. Aquino and Jesus P. Estanislao (2009), Lilia B. de Lima and Ramon R. del Rosario, Jr. (2010), Erramon Aboitiz (2011), Aurelio R. Montinola III (2012), Edgar O. Chua (2013), Albert F. del Rosario (2014), Amando M. Tetangco, Jr. (2015), Teresita Sy Coson (2016), John Gokongwei, Jr. (2017) and Fernando Zobel de Ayala (2018).

2. LIMITING THE COMPOSITION OF MMY SEARCH COMMITTEE TO MAP PAST PRESIDENTS FOR THE PAST 10 YEARS

2.1 This will help ensure the quality and quantity of nominees for the “MAP Management Man of the Year” and serve as one way of encouraging the Past Presidents to continue to be involved in MAP activities.

2.2 The MMY 2020 Search Committee will therefore be composed of the following:

2.2.1 Ms. RIZALINA “Riza” G. MANTARING (Chair; MAP President – 2019), Board Director, Sun Life Grepa Financial Inc. 2.2.2 Mr. RAMONCITO “Mon” S. FERNANDEZ (Vice Chair; MAP President - 2018), President and CEO, Maynilad Water Services, Inc. 2.2.3 Ms. MARIFE B. ZAMORA (MAP President – 2017), Board Director, PLDT 2.2.4 Mr. FRANCISCO “Popoy” F. DEL ROSARIO, JR. (MAP President – 2015), Independent Director, Metrobank 2.2.5 Mr. EDUARDO “Ed” V. FRANCISCO (MAP President – 2012), President and CEO, BDO Capital & Investment Corp. 2.2.6 Arch. FELINO “Jun” A. PALAFOX, JR. (MAP President – 2011), Principal Architect –Urban Planner/Founder, Palafox and Associates 2.2.7 Atty. PERRY L. PE (MAP President – 2016), Partner and ExCom Member, Romulo Mabanta Buenaventura Sayoc & de los Angeles

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MAP MEMBERSHIP

The total MAP membership will hopefully increase from 1,045 in 2019 to 1,060 by the end of this year.

As of November 8, there were at least 68 new members for induction.

NEW MEMBERS INDUCTED IN 2019

The following 63 members were inducted in 2019:

February 18 - 6

1. Ms. MARIA GRACIA PIA “Pia” L. ARELLANO, President and CEO of Transunion Information Solutions, Inc. 2. Dr. EDWARD “Ed” L. FEREIRA (Returning Member), Special Envoy of the Duterte Administration to Kazakhstan and MAP President in 2003 3. Mr. MARIO JORDAN “Magellan” F. FETALINO III , CEO of Acudeen Technologies, Inc. 4. Mr. ALDIE P. GARCIA, Assurance Partner of PricewaterhouseCoopers (PwC) Philippines/Isla, Lipana & Co. 5. Mr. ALVIN D. LAO, President & CEO of D&L Industries, Inc. 6. Atty. JULITO “Sarge” R. SARMIENTO, President, CEO and Co-Founder of WeGen Distributed Energy Philippines, Inc.

April 23 – 7

7. Sister MERCEDITAS ANG, SPC, President of St. Paul University Philippines (Tuguegarao) 8. Mr. SANDEEP GOPICHAND CHANDIRAMANI, President of iGlobalFinancial Services, Inc. 9. Dr. ARTURO S. DE LA PENA, President and CEO of St. Luke’s Medical Center 10. Mr. RYAN GUADALQUIVER, Country Manager of SAS Institute Philippines, Inc. 11. Mr. JUAN CARLOS MEDINA, Incoming Managing Director of Human Resource Innovations and Solutions, Inc. (HURIS) 12. Ms. GERMAINE A. REYES, President and CEO of Synergy Market Research + Strategic Consultancy 13. Mr. ALLAN R. SANTOS, President and CEO of National Reinsurance Corporation of the Philippines

April 29 – 7

14. Mr. CLARO BONILLA, EVP - Chief Strategy and Financial Officer, The Insular Life Assurance Co., Ltd 15. Gov. BENJAMIN E. DIOKNO, Governor of Bangko Sentral ng Pilipinas (BSP) 16. Ms. MARIA EDITA ANGELA C. ELICAŃO, EVP and Chief Actuary, Head – Administrative Operations Group of Insular Life 17. Mr. NICHEL GABA, Co-Founder and CEO of Philippine Digital Asset Exchange (PDAX) 18. Ms. AILEEN JUDAN- JIAO, President and Country Manager of IBM Philippines 19. Mr. RAOUL A. VILLEGAS, Executive Director – Deals and Corporate Finance of Isla Lipana & Co./PwC Philippines 20. Mr. DAVID ZUELLIG, Chair of FPG Insurance

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May 21 – 3

21. Mr. ANTHONY L. ALMEDA, President and CEO of National Grid Corporation of the Philippines 22. Ms. BEVERLY ANN DE GUZMAN, Vice President of Building Dreams Pharma Group, Inc. (The Generics Pharmacy Franchisee) 23. Sec. ROGELIO “Babes” L. SINGSON, President and CEO of MERALCO PowerGen Corporation

June 24 – 7 new members

24. Mr. REGINALDO ANTHONY B. CARIASO, President of BPI Capital Corporation 25. Engr. ALLYXON “Allyx” TAN CUA, President of Accent Micro Technologies, Inc. (AMTI) 26. Dr. ROWENA CRISTINA “Gev” L. GUEVARA, Undersecretary for Research and Development of the Department of Science and Technology (DOST) 27. Mr. EMMANUEL HERBOSA, President and CEO of Development Bank of the Philippines 28. Chair AURORA CRUZ IGNACIO, President and CEO, Social Security System (SSS) 29. Mr. JOSEFINO “Bong” M. PALOMA, SVP and General Manager of Accent Micro Technologies, Inc. (AMTI) 30. Mr. RIZALDY T. CAPULONG, EVP – Investments Sector of SSS

July 24 – 6

31. Mr. ALVIN M. CARRANZA, CEO of Digital Out of Home, Inc. 32. Mr. FELIPE ESTRELLA III, President of Volkswagen Philippines 33. Mr. SIEGFRED C. JAVELOSA, Dean of the De La Salle College of St. Benilde 34. Ms. MARIA CORAZON DE LA CRUZ PURISIMA, Head of Debt Capital Markets of HSBC Philippines 35. Mr. RAY C. ESPINOSA (Returning Member), President and CEO of MERALCO 36. Mr. PAUL JOSEPH “PJ” M. GARCIA, CEO of Leechiu Management, Inc.

August 22 – 6

37. Ms. GILDA DEL ROSARIO, Chief Administrative Officer, SVP and Country Leaders of Wells Fargo EGS Philippines 38. Prof. EMMANUEL A. LEYCO, President of Pamantasan ng Lungsod ng Maynila (PLM) 39. Mr. EDMUN H. LIU, Group CFO of LH Paragon Group 40. Mr. ROMUALDO “Boyet” V. MURCIA III, Partner for Audit and Assurance of Punongbayan & Araullo 41. BGen CHARITO B. PLAZA, MNSA, PhD, Director-General of Philippine Economic Zone Authority (PEZA) 42. Dr. ELI M. REMOLONA, Independent Director of BPI and Professor of UP School of Economics 43. Ms. MARIA FRANCESCA “Mica” F. TAN, CEO of MFT Group of Companies

Sept 24 – 6

44. Mr. PAULO CAMPOS III, CEO of Zalora Philippines 45. Mr. ALEXANDER GRENZ, President and CEO of Allianz PNB Life Insurance, Inc. 46. Amb. GERARD HO, Ambassador of the Embassy of the Republic of Singapore 47. Mr. CHRISTOPH KRAUER, Managing Director - Line-X Philippines, KCBA Protective Coating Philippines Inc. 48. Mr. ELEK CHRISTOPHER TOTH, Country Leader and VP for Philippine Operations and Delivery of Concentrix Services Corp. 49. Mr. SEIJI TAKANO, President of Sumitomo Corporation of the Philippines

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Oct 22 – 15

50. Mr. ARSENIO “Toto” BARCELONA, President of Harbest Agribusiness Corporation 51. Ms. COSETTE V. CANILAO, COO of Aboitiz InfraCapital, Inc. 52. Mr. BENEDICT CARANDANG, VP - External Relations of First Circle 53. Ms. GEORGIANNA “George” CARLOS, Co-Founder and CEO of Fetch! Naturals 54. Ms. LEIGH CECILIA DE ARMAS, CEO and President of BrandSpeakAsia 55. Mr. PHILIP A. GIOCA, Country Manager of Jobstreet Philippines 56. Ms. JOLINA KAHN, CEO of KahnDo Solutions 57. Mr. RICHMOND D. LEE, Founder and Director of AtlasOffice, Inc. 58. Mr. EDWIN MATULIN, SVP and Board Director of Synchrony Global Services Philippines, Inc. 59. Atty. CARLOS ALFONSO T. OCAMPO, Founding Partner of The Law Firm of Ocampo Manalo Valdez Lim 60. Mr. GILBERT SANTA MARIA, President and COO of Philippine Air Lines (PAL) 61. Mr. ROMMEL L. SYTIN, President and CEO of United Auctioneers, Inc. 62. Mr. MARCO SERGIO VAZZOLER, General Manager of EDSA Shangri-La 63. Mr. BENJAMIN “Ben” O. YAO, Chair, CEO and President of SteelAsia Manufacturing Corp.

LIFE MEMBERSHIP AWARDEES FOR 2019

1. The Board approved the following Life Membership Awardees for 2019:

Immediate Past President 1.1 Mr. RAMONCITO “Mon” S. FERNANDEZ

MAP members who have been Regular Member for 20 consecutive years 1.2 Atty. ROSARIO “Cherry” S. BERNALDO 1.3 Mr. REYNALDO “Rey” C. CENTENO 1.4 Mr. WILLIAM “Bill” B. GO 1.5 Mr. EMMANUEL “Sonny” V. HALILI 1.6 Ms. CAMILA “Camil” G. KITANE 1.7 Mr. BENEL D. LAGUA 1.8 Mr. JOSE MA. “Baby” S. LOPEZ 1.9 Ms. MILDRED R. RAMOS 1.10 Mr. BENJAMIN PHILIP “Philip” G. ROMUALDEZ 1.11 Mr. OSCAR A. TORRALBA 1.12 Mr. JORGE M. YULO

2. Life Members are exempt from paying the annual dues. They pay only for meetings they actually attend.

3. The awarding of Life Membership Certificates was held at the February 18, 2019 MAP Economic Briefing and GMM.

REVISED MAP MEMBERSHIP NOMINATION GUIDELINES

4. At its August 22, 2019 meeting, the MAP Board approved the revised MAP Membership Nomination Guidelines as endorsed by the MAP Membership Committee through its Sub- Committee for Review of Membership Nomination Guidelines (chaired by Mr. Romy David with Ms. Krees Castaneda, Ms. Maria Ronson, Dr. Mary Gaw So, Mr. Tony Sotelo and Ms. Grace Tiongco as Member) except for the creation of an Ethics Committee.

5. Here below are the Revised Membership Nomination Guidelines: Page 45 of 63

1. BASIC REQUIREMENTS FOR MEMBERSHIP

1.1 Generally, the prospective member must be an executive of an operating organization and must be involved in the management functions of the enterprise. Preferably, he/she must be among the top three executives of his organization.

1.2 The prospective member may be

1.2.1 a close family member involved in managing the business as heir-apparent of the owner 1.2.2 a University President, a College Dean or its equivalent position in the learning institution. 1.2.3 a Managing Partner or a Senior Partner of a law, audit or any other consulting/ licensed professional firm 1.2.4 a government official with position of at least Assistant Secretary or top two officers of a government agency/corporation 1.2.5 an Ambassador or a Commercial Counsellor 1.2.6 the top two officers of a corporate foundation or a similar NGO

1.3 Generally, the organization being managed by the prospective member must have at least 10 employees and total assets of at least P10 million. Exception will be a start-up or a small enterprise which shows great potential for innovation and sustainability as an important member of the Philippine business community.

1.4 Exceptions will be on case-to-case basis and subject to the approval of the incumbent MAP Board of Governors.

2. NUMBER OF MAP MEMBERS TO BE ADMITTED FROM A CERTAIN ORGANIZATION

2.1 The number of members that may be admitted from a business enterprise is determined by the latter’s ranking in the SEC’s Top 1,000 corporations in terms of gross revenues as follows.

2.1.1 Within top 1,000 corporations – the top FIVE levels of officers will be accepted.

2.1.2 Outside Top 1,000 corporations – the top FIVE key officers and the top TWO key officers of their subsidiaries can be accepted

2.2 The 2nd member up to the 5th member from the same company will be free from paying the entrance fee of P10,000.

3. PROCEDURE FOR ADMISSION

3.1 A prospective member must be endorsed by two MAP members in good standing through the prescribed Membership Nomination Form.

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3.2 The following documents must be submitted to the MAP Secretariat via with the accomplished Membership Nomination Form:

3.2.1 Comprehensive resume of nominee 3.2.2 Two (2) passport-size pictures of the nominee 3.2.3 Brief description of the nominee’s responsibilities 3.2.4 Latest audited financial statements of the nominee’s company  The prospective member from a start-up or small company should submit his/her organization’s balance sheet in the absence of an income statement.

3.3 The Membership Committee approves the circulation of the nominee’s name to the general membership or rejects the nominee’s admission to MAP (without need for explanation).

3.4 The Membership Committee shall circulate to the membership the names of prospective members before endorsing them to the Board.

3.5 MAP members are given at least two days to raise any objection in writing to the nominee’s admission to MAP. If no objection is received, the Membership Committee formally recommends to the MAP Board the nominee’s admission to MAP. In the event that there are objections, the nominee-member’s application is re-submitted to the Membership Committee for further evaluation.

3.6 If formally approved by the Board, the Membership Committee informs in writing the nominee-member and his/her two sponsors of the approval of his/her membership nomination, and schedules the nominee for induction during the monthly general membership meeting. The nominee must pay all applicable fees and dues before his/her induction.

3.7 Once an induction schedule for the nominee is confirmed, the two sponsors will be informed of the details of the induction and requested/encouraged to attend/witness the induction of the nominee-member.

3.8 Upon approval of his/her membership nomination, a new member must attend his/her induction within six months; otherwise, his/her membership will be considered cancelled and his/her paid fees and dues are forfeited in favor of MAP.

3.9 If a nominee cannot attend his/her induction due to conflict in schedule, he/she may be given the option to submit a signed Oath of Membership. The date of submission of the signed Oath of Membership will be considered as the starting date of his/her membership in the MAP. He shall be formally inducted in a subsequent GMM that he/she will be able to attend.

3.10 In accordance with Article 1, Section 6 of the MAP By-Laws, a Regular Member shall lose good standing in the Association and shall suffer automatic suspension if he/she fails to pay the annual dues.

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3.10.1 A Regular Member with unpaid dues shall be reminded in writing twice within sixty (60) days after March 31 deadline.

3.10.2 If the member fails to pay his/her dues after receiving two reminders from the MAP Secretariat, his/her membership in the MAP will be terminated.

3.11 The Membership Committee will refer to the Ethics Committee any valid complaint against a member.

3.12 The MAP Board will serve as the Ethics Committee.

3.13 A member shall be expelled from MAP by at least the majority vote of the entire Board of Governors if such member is found guilty of conduct unbecoming a member of the MAP.

MAP STATEMENTS

1. STATEMENTS/LETTERS MAP SIGNED/CO-SIGNED BY MAP IN 2019

1.1 MAP Statement on the Appointment of Sec. Benjamin Diokno as BSP Governor on March 5, 2019

“The Management Association of the Philippines (MAP) welcomes the appointment of Sec. BENJAMIN E. DIOKNO as the new Governor of the Bangko Sentral ng Pilipinas (BSP).

We believe that his expertise as an economist and his extensive experience in the Executive Branch on fiscal policy and management will serve him well in his new job.

We fully support the BSP’s initiatives to maintain price and financial stability in support of sustained economic growth, a more efficient payments system as well as its efforts to further broaden financial inclusion.

We are confident that the BSP under Governor Diokno will continue to promote good governance and transparent policies in the financial system.”

1.2 Business Groups support measures to resolve water interruption as ordered by PRRD on March 26, 2019

“We welcome and fully support the directive of President Duterte to solve the water service disruption in the east zone concession within 150 days.

We are heartened by the fact that measures have been developed in consultation with and cooperation of all stakeholders, including government water agencies, regulators and the two private concessionaires. Page 48 of 63

Accordingly, we are encouraged and confident that these interim measures will adequately resolve the water shortage and bring relief to consumers in the shortest possible time.

For the longer term, the resoluteness manifested by the Duterte administration in undertaking solutions to ensure sustainable supply of raw water is most encouraging. In this regard, the private water concessionaires, being accountable for rendering water service to the public, should be allowed the option to provide raw water supply for their respective zones.

We fully realize this service disruption had greatly affected and inconvenienced millions of consumers in the affected concession zone in many ways and we wholeheartedly sympathize with them.

The contrite behavior of MWSS Administrator Reynaldo Velasco and the apology extended by Manila Water CEO Ferdinand dela Cruz are helpful steps in the right direction and we laud them for it. Beyond these, the concession framework and existing regulatory provisions provide accountability measures for both the concerned public and private parties.

While disappointment and anger are understandable reactions, we should recognize that the water service interruption is not a total failure of the system. It must be noted that water service in Metro Manila has vastly improved in almost two decades since the service was privatized. The volume of water saved from leakage is said to be equivalent to the output of a dam such that the great expense for constructing one in the past to cover that same volume was rendered unnecessary. Happily, gone are the waterless days of old. In fact, this privatization is being regarded as a good model before the international community for others to emulate.

Looking to the future, we also need to secure a secondary water source to address the growing needs of Metro Manila and its surrounding areas.

Many lessons can be learned from this unfortunate episode and, hopefully, they will be employed to further improve the service and avoid a recurrence in the future.”

1.3 Statement on Proposed Reforms for the Philippine Water Sector on April 22, 2019

“We, the following listed Philippine business groups and foreign chambers, strongly commiserate with and share the frustrations of millions of Filipinos who are experiencing hardships associated with the current water shortage in Metro Manila. The megacity’s overdependence on the sole Angat Dam for Metro Manila’s water supply requirements has proven to be folly, especially in the face of continued economic and population growth, climate change, and disaster risk. Despite 20 years of a largely successful water privatization – the gains of which we hope to preserve – today’s crisis is a direct result of the ambiguity of responsibility for developing and managing the country’s water resources. This ambiguity bespeaks of the poor and fragmented governance of the water sector in general over the past decade.

Thus we call on our leaders, especially those in the Executive and Congress, to prioritize Water Security and take immediate action, as follows:

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1. Fast-track the construction and development of new water sources for Metro Manila. To this end, we urge the government to develop new raw water sources in the immediate pipeline as projects of national significance and to fast-track their bureaucratic approvals by obtaining permits, in parallel rather than sequential order, while ensuring proper environmental and social safeguards are adequately put in place. Full implementation of the Ease of Doing Business Act would be very useful in this regard. We also call upon Manila Water to hasten completion of its Cardona Treatment Plant and other water sources. As a long-term solution, steps should already be taken to develop adequate raw water sources to meet the future needs of Metro Manila, including tapping the full potential of Laguna Lake, a vast and nearby water resource.

2. Introduce water conservation and promote water efficiency. This includes promotion and adoption of technologies and practices for more efficient water use (e.g. efficient water-consuming appliances, water reuse systems, substitute chemical-based cleaning technologies, and reduced wasting of water by agricultural, commercial, domestic, and industrial consumers). In addition, concessionaires may continue reducing non-revenue water losses and government may consider introducing demand- management policies, such as mandatory labeling requirements and minimum water efficiency standards for water-consuming appliances.

3. Develop a Water Security Masterplan for Metro Manila and the entire country based on sound science and strengthen the National Water Resources Board. With the various water requirements of the metropolis and the larger country across a variety of needs, it is necessary to approach water resource planning through the lens of the globally-recognized principle of Integrated Water Resource Management. To achieve this, governance over the water sector should be rethought. In the short term, via an executive order, the National Water Resources Board may be strengthened and given adequate resources. In this regard, we welcome the news that President Duterte has approved in principle a draft executive order that is being finalized for his signature. In the longer term, legislation should be passed (a) strengthening an apex body for the water sector to act as the single lead agency to oversee and coordinate overall policy and program implementation, (b) creating an independent regulator for water supply and sanitation to harmonize regulatory practices and standards, and (3) encouraging private sector participation in the management of water resources and the provision of water services. To shepherd these reforms, we urge the president to appoint a “Water Czar” who can focus on this task of bringing order to the currently directionless water sector.

4. Rehabilitating the country’s wetlands, water bodies, and supporting ecosystems. Besides continuing efforts to clean Manila Bay, this rehabilitation effort should be expanded to include other major water bodies that can serve as natural sources of water supply, storage, and power, such as Laguna Lake and the Agus and Pulangi rivers. Efforts must also be made to ensure watersheds and wetlands are revitalized and maintained, while putting an end to illegal land conversion around these natural systems, which severely reduces holding capacities of these vital water-capturing and water-holding systems.

Water is too crucial a matter to overlook. Action is needed now to ensure water security for Metro Manila and our country tomorrow.”

1.4 MAP urges Holistic Laguna Lake Rehabilitation for Water Security and Eco-Tourism on May 8, 2019

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“Water security and the environment are major concerns of the MANAGEMENT ASSOCIATION OF THE PHILIPPINES (MAP).

It is for these reasons that MAP urges an immediate effort by the national government together with local government units and the private sector to clean, conserve, rejuvenate and preserve Laguna Lake and its watershed.

Laguna Lake is the largest freshwater lake in our country and among the largest in Southeast Asia. It is an ideal and logical source of potable water and has a vast potential for eco-tourism.

Unfortunately, the water quality of Laguna Lake has, despite sporadic efforts, continuously degenerated from neglect and wanton disregard for the lake's wellbeing much like other natural resources of our country.

We strongly applaud PRESIDENT RODRIGO ROA DUTERTE (PRRD) for seeing the despoilage of Boracay and exercising strong political will by taking draconian measures, including its temporary closure, to rehabilitate and save it from human overexploitation. Now we see the very rewarding positive results even after just a brief period.

We urge PRRD to take similar action and order a Save Laguna Lake action by issuing an Executive Order to direct all national and local government units and instrumentalities to immediately implement all existing laws, rules, regulations and directives to protect and rehabilitate Laguna Lake and the forest cover of its watershed in the surrounding hills and mountains.

The public must be warned that the government will strictly enforce existing laws that prohibit, under pain of penalty, the dumping of waste into the lake. Polluting industries, such as factories, fish culture, poultry and livestock farms, must be strictly regulated and restricted to a sustainable level.

Other sources of pollution must be prohibited, and these include the use of vessels powered by fossil fuels. Only vessels using clean energy, such as electric or natural gas, shall be allowed as is required in environmentally protective countries.

All development and structures must be banned within a no-build zone starting from its high water mark to within preferably no less than fifty meters, especially in populated areas, to allow space for public recreation and enjoyment of a national resource.

We urge PRRD to direct the national and local water boards to render and tap Laguna Lake as a dependable, inexhaustible and proximately-located source of raw water for Metro Manila and the lake's surrounding communities, with other sources such as dams serving a complementary role to ensure water security under all circumstances, including potentially catastrophic earthquakes. Further, that all resources, including funding from whatever source, be devoted for the said purpose.

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Necessarily, massive reforestation must be undertaken in the surrounding hills and mountains to enhance the productivity of the watershed. Ideally, indigenous wood species, fruit-bearing trees and bamboo should be utilized.

We also urge PRRD to direct the Department of Transportation to plan and implement a lake ferry transportation system to provide convenient, affordable and reliable connectivity between the towns and cities around the lake.

Further, for the Department of Tourism to plan, develop and implement eco- tourism projects to fully exploit the lake's potential, and for the Biodiversity Management Bureau (formerly Parks and Wildlife Bureau) to recommend public recreational parks for implementation and maintenance of the relevant agencies.

This Save Laguna Lake Movement must be participated, supported and sustained by all. Ideally, this Movement should be adopted by private corporations as among their primary social responsibility projects. Civil society, including all environment protection organizations, are stakeholders and must participate.

Lastly, let the Save Laguna Lake Movement be the model for the protection and rehabilitation of all our freshwater lakes, and replicated all over the country.”

1.5 Joint Statement of Support for Moderated Increase in Pay of Public-School Teachers and for Fiscal Prudence on June 19, 2019

“We, the undersigned business and professional organizations, believe that better education is a top national priority. We need it to make the Philippines and Filipinos more competitive, secure and productive. We recognize, appreciate, and value public school teachers as central to this goal, aside from being important leaders of our communities, including during election time. They deserve to be compensated better and given better training opportunities and tools, and we join other sectors in making that a goal.

In light of recent demands for an immediate P10,000 a month increase, however, we ask President Duterte and the teachers to phase this over time considering the following: 1. Fairness and equity of public school teachers’ pay compared to other civil servants, and the recent increases in their pay. 2. Fiscal affordability and sustainability, and the competing demands for other essential public expenditures. These include other parts of the education sector itself, the health sector, social spending such as Conditional Cash Transfer (CCT), and investments in hard infrastructure. All these are needed to lift our people out of poverty, broaden and enrich the middle where our school teachers belong.

3. The heavy economic and social effects, such as inflation, low growth, and unemployment, that go with spending beyond our means. This hits the poorest hardest.

On the issue of market competitiveness, in 2019, Teacher 1 (entry level salary grade 11) earned 58 percent more than their private school counterpart. An Associate Professor (salary grade 23) earned 109 percent more. According to the regional labor force survey, as early as 2016, public school teachers received on average 71 percent more than private school teachers nationally. This premium ranges anywhere from a low of 34 percent in Cordillera Autonomous Region to a high of 158 percent in the Autonomous Region of Muslim Mindanao.

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Education Secretary Leonor Briones acknowledges salaries of public school teachers have "overtaken" those of private schools and debunks characterizations that they are "the most pitiful and lowest paid profession." This is especially so in rural areas as the salary of public school teachers is standard nationwide. Compared to private teachers’ pay which is determined by local cost of living in the area they are working.

These market comparisons are important grounding — to deviate markedly from such would precipitate demands of one group of public servants vs. whoever is the current highest in a wage spiral that could lead to fiscal unsustainability. It could even spill over to private pay demands and inflation pressures.

Raising the disparity in pay between public and private school teachers would further fuel the migration of private school teachers to public schools and exert financial pressures on private schools whose tuition fees are regulated by government. Where public school teachers are disadvantaged compared to private school teachers is in the lack of training opportunities and tools like books, school supplies, and computers. There is also a lack of teachers and classrooms, resulting in big classes spread over the day in “shifts”. These must be addressed to alleviate the burden of teachers and improve the quality of education.

On the macro impact on the fiscal sector, the P150 B annual cost of the salary increase is roughly 1 percent of GDP. To appreciate the magnitude of this, we note that the entire annual budget for the CCT program, which benefits 4.3 million households and promises to break inter-generational poverty, will cost less than half of this. The difficult-to-pass TRAIN 1 raised less than half of this.

There is no identified recurring source of funding for this salary increase. As such, it will raise the national government annual fiscal deficit from 3 percent to 4 percent of GDP. The last time our fiscal deficit to GDP breached 4 percent was in 2002 and 2003, driving the country's credit ratings down by two rungs. This led to higher borrowing cost to both government and private sectors, and lower investments. If the gains in managing our economy recently affirmed by the upgrade to just below “A” are put at risk, our public school teachers will also suffer.

There are numerous examples of economic collapse that trace to fiscal imprudence — unmanaged salary increases and poorly targeted subsidies. The most recent and very visible one is Venezuela.

We thus commend the efforts of the Secretaries of Finance, Education and Budget to improve the pay of our public school teachers while preserving the country's economic gains. And we fully endorse the proposal of fiscal and education authorities for moderated adjustments in pay which are phased, reflect recent salary adjustments made, benchmarked to the market and other civil service employee comparators, count the benefits of TRAIN 1 on their take home pay, and are matched by new revenue. This should allow approach to the sought-for P10,000 salary increase over time.”

1.6 A Joint Appeal to President Rodrigo Roa Duterte for Review of Approved H.B. No. 8179 Granting a Franchise to Solar Para sa Bayan Corporation on June 26, 2019

“A bill granting Solar Para sa Bayan Corporation (SPB Corporation) a legislative franchise to put up solar micro grids in remote and unviable, unserved, or underserved areas in the country has been approved by both Houses of Congress.

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While we wholeheartedly support the Government’s electrification program, we appeal to His Excellency to review the bill.

We base our appeal to the proposed franchise grant on the following grounds:

1. The grant of the franchise will create an undue competitive edge in favor of SPB Corporation and put at a disadvantage other renewable energy companies now operating in our country. This will make less viable the operations of the other renewable energy companies and Qualified Third Parties (QTPs), which have been operating after compliance with substantive and formal requirements set by law. In other words, the grant of the franchise may defeat His Excellency’s objective of levelling the playing field in the renewable energy sector, and could prejudice power consumers.

2. We understand that SPB Corporation’s franchise bill was approved so swiftly and thus, may have been approved without sufficient deliberation to thresh out fundamental constitutional, legal and economic issues.

In view of the impact of the SPB Corporation’s franchise bill on small, mini and micro grids now operating in the country, as well as to the power consumers in general, we appeal to His Excellency to have the members of the Economic Cluster of the Cabinet review this franchise bill prior to any executive action.”

1.7 Letter to PRRD on “Security of Tenure and End to Endo” on July 1, 2019

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1.8 PBG – JFC letter to PRRD on the Priority Legislative Agenda on July 9, 2019

1.9 Joint Press Statement entitled “Business Groups Position on Security of Tenure Bill” on July 16, 2019

Through the Statement, the joint PBG-JFC urge the president to veto the Security of Tenure (SOT) bill for two primary reasons:

“First, the SOT bill is redundant as there are previously approved laws that already protect workers from Endo, it impinges on management prerogative anchored on the constitution, and it excludes contract workers hired by government agencies; and Page 56 of 63

Second, the passage of the bill could have a negative impact to the Philippine economy and to the workers whom the bill aims to protect.”

The Statement also emphasized that, “the SOT Bill can have the opposite effect on job creation and security of tenure, as enterprises may choose to eliminate the low-skilled work currently contracted out to service providers by using automation and artificial intelligence, re-designing work processes, or transferring work to more investor-friendly foreign destinations.”

1.10 Joint Statement on the Rice Tariffication Law and Agricultural Development on September 26, 2019

Through the Statement, the “undersigned business and professional organizations, hereby strongly support ongoing efforts and measures of the administration to liberalize the economy and thereby unleash its full potential to ensure sustainable, robust and inclusive economic growth, while ensuring better quality of life for our people through affordable food.

The need is to balance the interest of both producers and consumers.

One key measure of this effort is the rice tariffication bill approved by both Houses of Congress. This Bill is intended to decisively and quickly address the rice supply disruption problem and concomitant high prices experienced last year to the detriment of consumers.

The Bill is now with Malacańang and we urge the President to sign it into law. Upon enactment, the financial resources, management expertise, logistics support and extensive nationwide distribution system of the private sector will be harnessed to ensure food security, particularly of the most important food stable – rice.

Consumers must be freed of food supply apprehension and provided with price stability at an affordable level. This measure will address those concerns through free and open competition.

At the same time, rice farmers will be accorded protection from unfair competition through the imposition of import tariff duty of thirty-five (35) percent on imported rice.

We urge the sustained provision of essential support services and facilities – irrigation, better seedlings, modern growing and efficient harvesting technology, safe agricultural chemicals and post-harvest facilities - by the government to further assist the farm sector to be more productive and increase rural income.

On the part of consumers, maintaining a strategic reserve of rice stock is essential to guard against supply dislocation that may arise in case of natural calamities, climate change and disruption in the world market of rice.

Earmarking and judicious utilization of the rice import tariff revenue for these purposes will greatly help attain these objectives.

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1.11 Joint Statement of Support for CITIRA on October 21, 2019

The Statement stated that, “We support the overall corporate income tax framework proposed under the Corporate Income Tax and Incentives Rationalization Act (CITIRA) Bill lowering the corporate income tax (CIT) and at the same time widening the tax base and promoting discipline in tax expenditure through a more prudent, targeted and transparent fiscal incentives system.

The lowering of the CIT rate from 30% to 20%, although over a long period of 10 years, will eventually put us within the ASEAN range. This will not only make us more competitive in attracting foreign investments, but it will also make our domestic corporates at par with their counterparts, thus making them more competitive as they expand their operations outbound under an integrated ASEAN market.

We are aware that the tightening of tax incentives is not welcomed by certain sectors within our ranks, but we believe in the underlying principles of having a tax incentives system that is transparent, performance-based, targeted and time-bound. We believe in the equitable sharing of tax burden, as we believe in the equitable enjoyment of living in an orderly, healthy, and prosperous society.

We support the enhancement and modernization of tax reporting system through the use of electronic sales reporting system, thereby reducing compliance costs.

We, however, propose refinements on the following:

1. The scheduled CIT rate reduction should be fixed and not conditional, although an acceleration of rate reduction, should fiscal circumstances warrant, is welcomed to be competitive with ASEAN peers. Uncertainty is the biggest nightmare in doing business.

2. Provide a reasonable fixed transition period for concerned firms under the gross income earned (GIE) regime to adjust their operations and prevent dislocation.

3. We are supportive of a one-stop shop approach for registered enterprises that would allow them to deal with only one tax agency, in effect avoiding the rigors of going through difficult processes and different rules of local government units.”

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1.12 Statement on the Decision to Release the 2016 Election Test Recount Report on October 21, 2019

1.13 MAP Recommendations to Improve the Country’s Energy Situation on October 29, 2019

Through the recommendations, the MAP “reiterate our position on the importance for the country not only to keep a stable and reliable power supply but also to deliver this basic service at reasonable prices in order to foster the growth of competitive business enterprises, particularly those in critical export-oriented industries.”

The MAP requested that actions should be two-pronged:

(1) Address Bulk Power requirements of the Main Grids of Luzon, Visayas and Mindanao, and (2) Allow adequate competition and supporting laws and regulations to address Off- Grid areas not served by the National Grid Corporation of the Philippines (NGCP).

The MAP proposed the following measures:

1. FOR DOE

1.1 To work with the private sector and the academe in defining the “as-is” situation in the electric power industry and develop the “to-be” state by 2040 in line with Arangkada 2040 aspirations and the Build Build Build plans of the Duterte Administration 1.2 Resolve the ownership issues of the Ilijan Natural Gas Power Plant 1.3 Resolve the income tax assessment issue raised by the Commission on Audit (COA) against Shell Philippines Exploration B.V. (SPEX) and support an extension of SPEX contract to operate the Camagao-Malampaya gas field Page 59 of 63

1.4 Implement in full the spirit of Executive Order No. 30 as a way of encouraging the development and construction of new power plants using conventional and RE sources tied into the Main Grids 1.5 Encourage the development of baseload and mid-merit power plants running on RE sources 1.6 Encourage the development of indigenous natural gas resources located in various areas 1.7 Encourage the development of a liquefied natural gas (LNG) facility 1.8 Consider technology-neutral options for bulk power

2. FOR THE PHILIPPINE ELECTRICITY MARKET CORPORATION (PEMC) with DOE and the ENERGY REGULATORY COMMISSION (ERC)

To fast-track the creation of the Reserves Market and the Derivatives Market

3. FOR NGCP with DOE and ERC

3.1 To contract sufficient ancillary service 3.2 To prioritize the Visayas-Mindanao and inter-grid connection 3.3 To increase the transfer capacity between the Luzon-Visayas grids 3.4 To implement programs consistent with the Transmission Development Plan (TDP)

4. FOR ERC AND CONCERNED GOVERNMENT BODIES

4.1 For compliant power supply agreements (PSAs), we urge ERC to immediately approve these PSAs. By compliant PSAs, we mean those that have successfully conducted or completed the competitive selection process (CSP).

4.2 For other pending PSAs, we urge appropriate government bodies to resolve outstanding issues regarding PSAs that had gone through the appropriate hearing process and complied with existing rules and regulations of ERC.

4.3 Resolve pending issues for immediate implementation of Retail Competition and Open Access (RCOA) – We urge the immediate resolution of the Retail Electricity Supplier (RES) licensing issue by ERC. Moreover, voluntary contestability and lowering of thresholds should also be implemented. We note that DOE already promulgated Circulars for the resolution of such issues, but need supporting ERC issuances.

4.4 RE-Related Issuances - Revised Rules on Net Metering, and New Rules on Green Energy Option Program (GEOP). Net Metering Rules have undergone ERC public consultations. ERC should be ready for the finalization and issuance of the revised rules. For the GEOP, DOE has already promulgated the GEOP Rules, but needs supporting ERC issuance to fully implement the program.

4.5 Align Regulations for Off-Grid areas, ensuring the National Electrification Administration (NEA), DOE and ERC have complementary rules. This will encourage all players to speed up the electrification of the Off-Grid areas.

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FINANCE

1. The Net Income will decrease by P1.1M from P3.80M in 2018 to P2.7M in 2019 mainly due to the following:

1.1 P1.0M sponsorship for the MAP-ICD Book

1.2 P1.0M sponsorship for the Filipino Athletes and Coaches

1.3 P0.5M sponsorship for the MAP Legacy series on ANC for “MAP Management Man of the Year” awardees

2. MAP’s total assets increased by P1.35M or 2% from P61.37M in 2018 to P62.72 as of November 22, 2019.

3. As of November 22, 2019, MAP’s cash balances amounted to P50.29M, lower by P1.66M or -3% than last year’s P51.95M.

4. MAP had total money market investments of P42.55M as of November 22, 2019.

5. Two remaining Fund Managers are handling P30.30M of the P42.55M money market investments as follows:

5.1 BDO – P14.46M 5.2 BPI – P15.84M Total P30.30M

6. The Restricted MAP Sustainability Fund has increased from P21M in 2017 to P24M in 2018. The Sustainability Fund can only be used upon the approval of the MAP Board in the future to finance the basic operating expenses of the MAP Secretariat, particularly in times when the Association may be operating in a deficit or when the collected dues are insufficient to finance a particular year’s operating expenses.

7. The following rates for 2019 Annual Dues will be retained:

Early Bird Rate: (if paid not later than Jan 31) P22,500 Regular Rate : (if paid from Feb 1 to Mar 31) P25,000

The last time there was an increase in the annual dues was 10 years ago in 2010.

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MAP GOVERNORS FOR 2020 - 2021

The following have been elected MAP Governors for 2020 - 2021:

1. Atty. EMMANUEL “Noel” P. BONOAN, Vice Chair and COO, KPMG R.G. Manabat Co. 2. Atty. DANILO “Danicon” L. CONCEPCION, President, University of the Philippines (UP) 3. Ms. MARIA VICTORIA “Marivic” C. ESPAÑO, Chair and CEO, P&A Grant Thornton 4. Mr. AURELIO “Gigi” R. MONTINOLA III, Chair, FEU Group of Companies

They will join the following holdover Governors on the 2020 MAP Board:

1. Atty. BENEDICTA “Dick” DU-BALADAD, Founding Partner and CEO, Du-Baladad and Associates (BDB Law) 2. Atty. FRANCISCO “Francis” ED. LIM, Senior Partner and Excom Member, (ACCRALAW) 3. Mr. JOHN PHILIP “JP” S. ORBETA, Managing Director and Group Head for Corporate Resources, Ayala Corporation 4. Dr. JUSTO “Tito” A. ORTIZ, Chair, UnionBank of the Philippines 5. Gov. AMANDO “Say” M. TETANGCO, JR., Board Director, Philippine Airlines (PAL)

THANKS

Thanks to the 2019 MAP Board of Governors, headed by MAP President RIZA MANTARING.

(l-r) MAP Governors TITO ORTIZ, RENE ALMENDRAS, MAP Asst. Treasurer CESAR ROMERO, MAP Treasurer DICK DU-BALADAD, MAP President RIZA MANTARING, Dr. DADO BANATAO (as Guest of Honor and Inducting Officer) MAP Vice President FRANCIS LIM, MAP Secretary CAROL DOMINGUEZ, MAP Governors JP ORBETA and SAY TETANGCO JR. Page 62 of 63

Thanks also to the Chairs and Vice Chairs of the 2019 MAP Committees for helping implement the MAP’s objective of promoting management excellence for nation-building.

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