DOCSLIB.ORG

New 241-256.Indd 1 1/16/13 10:26:58 AM P242.Pdf 1 12/11/12 9:05 AM

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
New 241-256.Indd 1 1/16/13 10:26:58 AM P242.Pdf 1 12/11/12 9:05 AM EAST MEETS WEST “Up to now, China Bank is my bank. I am very proud to be banking with China Bank for so long.” —RICARDO PO RICARDO PO, HEAD of the Century Pacific group, is another success story from the large numbers of entrepreneurs fostered by China Bank. He immigrated from China in 1947 at the age of sixteen. He started banking with China Bank in 1958. In 1979, he started an export canning factory, Century Canning. Century Pacific now exports canned tuna to firms in the United States, Europe, Japan, Canada and Australia. To grow Century, Ricardo Po made China Bank his primary bank—a status it continues to have three decades later. Century Pacific sells around 500 million tins of products— which include canned meat and canned tuna—a year. In the local canned tuna business, Century Tuna enjoys 90% market share. Century Group has total assets of P4.7 billion and annual revenues of P6.5 billion. Ricardo Po remains grateful to China Bank for its support. He said: “The year 2008 was difficult for everyone. It was a global recession. I talked to Gilbert Dee and he said very quickly: ‘I’ll give you P300 million more for your credit line.’ We never had to use that line, fortunately. But that’s the kind of bank China Bank is. Once they trust a client, they support him all the way.” p241.pdf 1 12/11/12 9:13 AM TH E C H INA B AN K S TO R Y Their Success Is Our Business 241 new 241-256.indd 1 1/16/13 10:26:58 AM p242.pdf 1 12/11/12 9:05 AM Larry Tan-Villareal and Lucio Yan UNWAVERING LOYALTY “China Bank gives us the best kind of support any bank could give.” —LARRY TAN-VILLAREAL AND LUCIO YAN STARTING AS A MANUFACTURER of tin cans for industrial paints and chemicals in 1962, the partnership of Larry Tan-Villareal and Lucio Yan has not only grown exponentially but has also diversified into food grade tin cans, cardboard and corrugated boxes, tin can labels, and bottle caps, among others. In the 70s, the partners also ventured into real estate development. The many companies established by Tan-Villareal and Yan count among its clients some of the biggest manufacturing companies of varied consumer products such as Nestlé, Universal Robina, and Colgate-Palmolive. From the time the partners established their first company, Rowell Industrial Corp, China Bank has always been their bank. “It was China Bank that extended to us our first loan of P30,000,” said Tan-Villareal, whose father was a good friend of George Dee. “Our relationship is based on trust,” Yan said. As their group of companies grew, other banks approached them, but the partners stayed with China Bank. “China Bank gives us the best kind of support that any bank could give,” Tan-Villareal said. 242 Their Success Is Our Business A M AT T E R O F T R US T new 241-256.indd 2 1/16/13 10:26:59 AM Esperanza Ching and Jose Ching FROM HUMBLE BEGINNINGS “Malaki ang tulong na ibinigay sa amin ng China Bank.” —ESPERANZA RAYMUNDO-CHING Esperanza R. Ching’s relationship with China Bank was established with a paperclip—a story she tells her grandchildren up to now. “Don’t underestimate the value of a single paperclip,” she says. She and her husband Jose were on their way out of the Bank after the disapproval of their loan when they saw a paperclip on the floor, which Jose picked up and gave to Don Albino SyCip’s secretary. Don Albino saw this, called for them and granted them the loan. That was in the early 1950’s and up to now, she and her husband, a China Bank client since 1948, only bank with China Bank. Esperanza and Jose came from humble beginnings and she says that China Bank has always been a part of their remarkable “business journey.” Jose began with a small store and Esperanza with a rice business. They married in 1953 and with the help of the “paper clip” loan from China Bank, they went into rice trading and cement distribution. Their story shows what hard work, determination, business savvy and an appreciation for the simple yet basic things in life, can achieve. p243.pdf 1 12/11/12 9:06 AM TH E C H INA B AN K S TO R Y Their Success Is Our Business 243 new 241-256.indd 3 1/16/13 10:26:59 AM 21 p244.pdf 1 12/11/12 9:12 AM Luis Uy and Siao Tick Chong FRIENDS OF LONG STANDING “Why should we look for another bank?” —SIAO TICK CHONG AND LUIS UY GOOD FRIENDS Siao Tick Chong, 92, and Luis Uy, 83, have been doing business with China Bank for more than 60 years. Up to now, they still visit the Binondo branch every day, a habit they are not about to break because the bank is like their second office. “We know everyone here, including the security guards,” Mr. Siao said. Mr. Siao became a Bank client in the 1940s when he was a young copra trader. He said, “Dr. SyCip was very kind. He was also straight and very strict. My trust and confidence in him was very high.” He remained loyal to China Bank as he diversified his business and became one of the biggest distributors and manufacturers of electrical products in the country. Mr. Uy, on the other hand, is a second generation client. “My father was an old friend of Mr. SyCip. He was an importer of goods such as cutlery from Germany. It was easy to do business then. What was important was xinyong and my father knew that. There was no hesitation on the part of the bank to accommodate him because they knew he would commit himself to the transaction.” “We have never left China Bank. We’re satisfied. We get what we need. And that personal relationship is very important,” Mr. Uy concluded. 244 Their Success Is Our Business A M AT T E R O F T R US T new 241-256.indd 4 1/16/13 10:27:00 AM p245.pdf 1 12/11/12 9:11 AM TH E C H INA B AN K S TO R Y Their Success Is Our Business 245 new 241-256.indd 5 1/16/13 10:27:00 AM p246.pdf 1 12/11/12 9:07 AM VISION Drawing strength from our rich history, we will be the best, most admired, and innovative financial services institution, partnering with our customers, employees, and shareholders in wealth creation. 246 A M AT T E R O F T R US T new 241-256.indd 6 1/16/13 10:27:00 AM MISSION We will be a leading provider of quality services consistently delivered to institutions, entrepreneurs and individuals, here and abroad, to meet their financial needs and exceed rising expectations. We will be a primary catalyst in the creation of wealth for our customers, driven by a desire to help them succeed, through a highly motivated team of competent and empowered professionals, guided by in-depth knowledge of their needs and supported by leading-edge technology. We will maintain the highest ethical standards, sense of responsibility and fairness with respect to our customers, employees, shareholders, and the communities we serve. p247.pdf 1 12/11/12 9:21 AM TH E C H INA B AN K S TO R Y 247 new 241-256.indd 7 1/16/13 10:27:02 AM p254.pdf 1 12/10/12 10:01 PM 2012 CHINA BANK BOARD OF DIRECTORS HENRY SY SR. Honorary Chairman CORE VALUES Integrity High Performance Standards Commitment to Quality Customer Service Focus Concern For People DY TIONG PETER S. DEE HARLEY T. SY JOSE T. SIO JOAQUIN T. DEE HANS T. SY RICARDO R. CHUA GILBERT U. DEE HERBERT T. SY ALBERTO S. YAO ROBERTO F. KUAN Efficiency Resourcefulness/Initiative 248 A M AT T E R O F T R US T new 241-256.indd 8 1/16/13 10:27:04 AM p255.pdf 1 12/10/12 10:00 PM DY TIONG PETER S. DEE HARLEY T. SY JOSE T. SIO JOAQUIN T. DEE HANS T. SY RICARDO R. CHUA GILBERT U. DEE HERBERT T. SY ALBERTO S. YAO ROBERTO F. KUAN PILAR NUBLA LIAO, Advisor to the Board TH E C H INA B AN K S TO R Y 249 new 241-256.indd 9 1/16/13 10:27:05 AM ACKNOWLEDGEMENTS This history of China Banking Corporation (China Bank), which spans more than ninety years, would not have been possible without the firsthand accounts of the former and current officers and staff of the Bank who generously shared their stories and insights with the author. Among our major sources were Gilbert Dee, Peter Dee, Nancy Dee Yang, Hans Sy, Ric Chua, Johnny Coreces, Willy Tecson, Eddie Go, Nory Reyes-Lao, Rene Lao and Alex Escucha. A number of clients and friends of China Bank took time off from their very busy schedules to be interviewed for the book and to them, we express our appreciation. Mr. Washington SyCip, son of Albino SyCip, not only agreed to be interviewed but also allowed us to use some of their family photographs. The Bangko Sentral ng Pilipinas (BSP) also allowed us to use a photograph from their book 50 Years of Central Banking in the Philippines.
Load more

Recommended publications
  • PIS April 7, 2014
    METRO PACIFIC INVESTMENTS CORPORATION April 15, 2014 SECURITIES & EXCHANGE COMMISSION Corporate Governance & Finance Department S.E.C. Building, EDSA Mandaluyong City PHILIPPINE STOCK EXCHANGE Disclosure Department 3/F PSE Plaza Ayala Triangle Ayala Avenue, Makati City Attention: DIR. JUSTINA F. CALLANGAN Corporate Governance & Finance Department MS. JANET ENCARNACION Head, Disclosure Department In accordance with the requirements of the Exchange, we are submitting through EDGE, a copy of SEC Form 20 – Preliminary Information Statement, as filed with the Securities and Exchange Commission, in respect of the Annual General Meeting of the Stockholders of Metro Pacific Investments Corporation scheduled on May 30, 2014. Very truly yours, MELODY M. DEL ROSARIO Vice President PR and Corporate Communications METRO PACIFIC INVESTMENTS CORPORATION NOTICE OF ANNUAL MEETING OF STOCKHOLDERS Please be advised that the Annual Meeting of the stockholders of METRO PACIFIC INVESTMENTS CORPORATION will be held on Friday, 30th day of May 2014, at the Ground Floor, Rigodon Ballroom, Manila Peninsula Hotel, Ayala Avenue corner Makati Avenue, Makati City 1226 Philippines for the following purposes: 1. To consider and adopt the Audited Financial Statements for the year ended 31st December 2013 contained in the Annual Report 2. To ratify all acts of the Board of Directors and Management for the year 2013 3. To elect the Directors and Independent Directors of the Company for the ensuing year 4. To appoint the external auditor of the Company for the year 2013 5. To transact such other business as may properly come before the meeting and at any adjournment thereof. The Board of Directors has fixed the close of business on the 30th day of April 2014, as the record date for the determination of stockholders entitled to notice of and to vote at the Annual Stockholders’ Meeting.
    [Show full text]
  • Securities and Exchange Commission Sec Form – Acgr Annual Corporate
    SECURITIES AND EXCHANGE COMMISSION SEC FORM – ACGR ANNUAL CORPORATE GOVERNANCE REPORT 1. Report is filed for the Year: 2012 (with updates as of March 21, 2014) 2. Exact Name of Registrant as Specified in its Charter: China Banking Corporation 3. Address of principal office: China Bank Bldg., 8745 Paseo de Roxas Postal Code: 1226 cor. Villar St., Makati City 4. SEC Identification Number: 443 5. (SEC Use Only) Industry Classification Code 6. BIR Tax Identification Number: 320-000-444-210 7. Issuer’s telephone number, including area code: (632) 885-5555 8. Former name or former address, if changed from the last report: Not applicable 1 TABLE OF CONTENTS A. BOARD MATTERS………………………………………………………………………………………………………………………….……….4 1) BOARD OF DIRECTORS (a) Composition of the Board………………………………………………………………………………….………4 (b) Corporate Governance Policy …………………………………………………………………………………….4 (c) Board Review and Approval of Vision and Mission ……………………………………………………15 (d) Directorship in Other Companies……………………………………………………………………………. 16 (e) Shareholding in the Company……………………………………….…………………………….………......18 2) CHAIRMAN AND CEO………………………………………………………………………………………………………………..18 3) PLAN FOR SUCCESSION……………………………………………………………………………………………………………..21 4) OTHER EXECUTIVE, NON-EXECUTIVE AND INDEPENDENT DIRECTORS………………………………………22 5) CHANGES IN THE BOARD OF DIRECTORS…………………………………………………………………………………..25 6) ORIENTATION AND EDUCATION PROGRAM………………………………………………………………………………83 B. CODE OF BUSINESS CONDUCT & ETHICS……………………………………………………………………………………………….88 1) POLICIES……………………………………………………………………………………………………………………………………88
    [Show full text]
  • Minutes of the Annual Stockholders' Meeting
    MINUTES OF THE ANNUAL STOCKHOLDERS’ MEETING HELD ON APRIL 24, 2018 AT THE GRAND BALLROOM UPPER LOBBY, CENTURY PARK HOTEL 599 PABLO OCAMPO SR., MALATE MANILA DIRECTORS/STOCKHOLDERS PRESENT Please refer to “Annex A” I. CALL TO ORDER The meeting commenced with the singing of the National Anthem, and thereafter the delivery of the invocation by EVP Bernardo H. Tocmo. SVP Norman Martin C. Reyes acted as the Master of Ceremonies. Vice Chairman Felix Enrico R. Alfiler, who acted as Chairman of the meeting, then welcomed the stockholders and called the meeting to order at 8:15 a.m. Corporate Secretary Maila Katrina Y. Ilarde recorded the minutes of the proceedings. II. SECRETARY’S PROOF OF NOTICE AND QUORUM The Chairman requested the Corporate Secretary to show proof that the required notice of the meeting was duly sent to all the stockholders. In response, the Corporate Secretary said that in accordance with the requirements of the Securities Regulation Code, the New Disclosure Rules of the Securities and Exchange Commission, and SEC Memorandum Circular No. 19, series of 2016, written notice of the meeting was sent to all shareholders of record as of record date, March 26, 2018, at least 28 days prior to the date of the meeting. She added that in accordance with Section 4.4, Article IV of the Bank’s Amended By-Laws, the notice was likewise published daily for one week from April 8 to 14, 2018 in the Philippine Star, Business World, and Manila Bulletin. Supporting certifications were then submitted for the record. The Chairman thereafter requested the Corporate Secretary to certify the existence of a quorum.
    [Show full text]
  • 10 January 2018 the PHILIPPINE STOCK EXCHANGE, INC. 3F
    10 January 2018 THE PHILIPPINE STOCK EXCHANGE, INC. 3F Philippine Stock Exchange Plaza Ayala Triangle, Ayala Avenue Makati City Attention: Mr. Jose Valeriano B. Zuño III OIC – Head, Disclosure Department PHILIPPINE DEALING & EXCHANGE CORP. 37F Tower 1, The Enterprise Tower 6766, Ayala Ave. cor. Paseo de Roxas Makati City Attention: Ms. Vina Vanessa S. Salonga Head – Issuer Compliance and Disclosure Department (ICDD) Dear Mr. Zuño and Ms. Salonga: Please find attached list of Top 100 Stockholders of East West Banking Corporation (EW) as of December 31, 2017. Thank you. Sincerely, Vincent A. Villanueva Finance Officer Stock Transfer Service Inc. Page No. 1 EAST WEST BANKING CORPORATION List of Top 100 Stockholders As of 12/31/2017 Rank Sth. No. Name Citizenship Holdings Rank ------------------------------------------------------------------------------------------------------------------------ 1 0000000001 FILINVEST DEVELOPMENT CORPORATION Filipino 600,090,678 40.01% 2 0000000002 FILINVEST DEVELOPMENT CORPORATION FOREX Filipino 394,941,030 26.33% 3 0000000014 PCD NOMINEE CORPORATION (FILIPINO Filipino 239,913,390 15.99% 4 0063181677 FDC FOREX CORPORATION Filipino 162,780,346 10.85% 5 0000000015 PCD NOMINEE CORPORATION (NON-FILIPINO) Foreign 99,136,244 06.61% 6 0000000030 ALFONSO S. TEH Filipino 500,000 00.03% 7 0063181692 TEAM GLADIOLA, INC. Filipino 497,287 00.03% 8 0000000049 PHILIPPINE AIR FORCE EDUCATIONAL FUND, INC. Filipino 390,000 00.03% 9 0000000042 WASHINGTON SYCIP American 322,000 00.02% 10 0000000038 GERARDO SUSMERANO Filipino 320,000 00.02% 11 0000000098 MANUEL A. SANTIAGO &/OR ELLA C. SANTIAGO Filipino 220,400 00.01% 12 0000000097 MIRIAM CHENG BONA ITF MARK JERICHO C. BONA Filipino 100,000 00.01% 13 0000000094 JOSHUA CHENG Filipino 100,000 00.01% 14 0000000046 QUIRINO CHEONG GOTAUCO Filipino 87,732 00.01% 15 0000000040 IVY B.
    [Show full text]
  • Diagnostic Study of Accounting and Auditing Practices in the Philippines
    Diagnostic Study of Accounting and Auditing Practices The Philippines ii © Asian Development Bank 2002 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of the Asian Development Bank. This publication was prepared by consultants and staff of the Asian Development Bank. The findings, interpretations, and recommendations are those of the authors and do not necessarily reflect the policies or views of the Asian Development Bank, its Board of Directors, or the governments they represent. The Asian Development Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequences for their use. iii Preface his report describes Philippine accounting and auditing arrange- Tments, identifies deficiencies in those arrangements, and presents recommendations to address the deficiencies. It is part of the Asian Development Bank (ADB) series of country Diagnostic Studies of Accounting and Auditing (DSAAs). In 2000, DSAAs were completed and published for Cambodia, Mongolia, Pakistan, Papua New Guinea, People’s Republic of China, Uzbekistan and Viet Nam. In 2001- 2002, DSAAs were prepared for Azerbaijan, Fiji Islands, Marshall Islands, Philippines and Sri Lanka. The report was prepared for ADB by Barry Reid (Consultant) with overall guidance from R. Narasimham (Senior Portfolio Management Specialist, ADB), under Regional Technical Assistance 5765 — Banking, Capital Market and International Competitiveness Reforms in Response to the Currency Turmoil. Maria Rita Castillo provided strong research assistance; Aileen Aguilar and Yvonne Osonia provided excellent administrative support. The draft report was discussed and debated with representatives from government, the private sector, and international organizations at a workshop held at ADB Headquarters in Manila on 12–13 March 2001.
    [Show full text]
  • FOR IMMEDIATE RELEASE October 29, 2014 Contact: Katherine E. Johnson (212) 875-5718; [email protected] NEW YORK PHILHARMONIC F
    FOR IMMEDIATE RELEASE October 29, 2014 Contact: Katherine E. Johnson (212) 875-5718; [email protected] NEW YORK PHILHARMONIC FORMS INTERNATIONAL ADVISORY BOARD TO SUPPORT GLOBAL ACADEMY AND WORLDWIDE ACTIVITIES The New York Philharmonic has established an International Advisory Board (IAB) to develop relationships beyond the United States in order to support the Philharmonic’s activities abroad, including regular Philharmonic residencies, educational and entrepreneurial projects, and the launch of the newly formed New York Philharmonic Global Academy. The International Advisory Board will serve as an international network of advocates and ambassadors who will connect with individuals and institutions in their home cities and countries to cultivate the Philharmonic’s long-term reach and influence worldwide. IAB members will work with the Philharmonic to secure engagements, activities, and funding sources in a variety of international locations. The 12-member International Advisory Board includes: Angela Chen, Co-Chair (U.S. and China) Christian A. Lange, Co-Chair (U.S. and Germany) Antonio Quintella, Co-Chair (U.S. and Brazil) Charles C.Y. Chen (Taiwan) Mitsuhiko Kawai (Japan) Federico R. Lopez (Philippines) Pedro Pullen Parente (Brazil) Washington SyCip (Philippines) Ming-Hsing (Richard) Tsai (Taiwan) Susanne Wamsler (Germany) Chaoyong Wang (China) Long Yu (Honorary Member, China) “The New York Philharmonic has a rich tradition of touring that has led to its acclaim both as a force for cultural diplomacy and as one of the world’s most brilliant orchestras,” said Philharmonic Chairman Gary W. Parr. “The Board of Directors is committed to creating an even deeper and more immersive presence in important cities around the world, which we could not do without the insight and counsel of the members of this remarkable group of international individuals.
    [Show full text]
  • A Financial and Operational Analysis of Banco De Oro
    Presented at the DLSU Research Congress 2015 De La Salle University, Manila, Philippines March 2-4, 2015 A Financial and Operational Analysis of Banco De Oro Lore-Anne Cadsawan1, Patrick Caoile2,*, John Disuanco3, Renz Garcia4, Janel Tumpalan5, Sean Wu6 and Mycah Yao7 De La Salle University 2401 Taft Avenue, Manila *Corresponding Author: [email protected] Abstract: Banco De Oro Unibank, Inc. (BDO) is one of the universal banks in the Philippines that was a product of a merger which made it unprecedented in size and scale in the Philippine banking industry. It offers a variety of services, ranging from the traditional lending and deposit-taking to foreign exchange, brokering, and corporate cash management. It is currently majority owned by the SM Group of Companies, which is headed by business tycoon, Mr. Henry Sy, who is considered the richest man in the Philippines. As of June 30, 2014, in terms of assets and loans, it is ranked number one in the universal and commercial bank group. With this, BDO should be able to compete to uplift its reputation with the increase in competition and constant penetration of international banks. The financials and operations of the bank must be examined to determine if it still has a competitive advantage over the increasing number of international banks in the Philippines. To examine BDO's performance in the financial side, a thorough financial ratio analysis is done. To study where the bank is in terms of its operations side, the SWOT Analysis and Porter’s Five Forces Model will be used. The financial ratios show that in terms of resources, gross customer loans, deposit liabilities, capital funds and net income, BDO is doing well and improving as all the figures are increasing.
    [Show full text]
  • 2021 ASM Minutes
    MINUTES OF THE ANNUAL MEETING OF THE STOCKHOLDERS OF SM PRIME HOLDINGS, INC. Held on 20 April 2021 at 2:30 p.m. (via Remote Communication) DIRECTORS PRESENT: HENRY T. SY, JR. Chairman of the Board Member, Executive Committee JOSE L. CUISIA, JR. Vice Chairman and Lead Independent Director Chairman, Audit Committee Member, Risk Oversight Committee Member, Corporate Governance Committee GREGORIO U. KILAYKO Independent Director Chairman, Risk Oversight Committee Member, Corporate Governance Committee Member, Related Party Transactions Committee Member, Audit Committee JOSELITO H. SIBAYAN Independent Director Chairman, Corporate Governance Committee Chairman, Related Party Transactions Committee Member, Audit Committee HANS T. SY Director Chairman, Executive Committee HERBERT T. SY Director Member, Executive Committee JORGE T. MENDIOLA Non-Executive Director Member, Audit Committee Member, Risk Oversight Committee Member, Related Party Transactions Committee JEFFREY C. LIM Director and President Member, Executive Committee ALSO PRESENT: TERESITA T. SY-COSON Adviser to the Board ELIZABETH T. SY Adviser to the Board JOSE T. SIO Adviser, Audit Committee and Risk Committee JOHN NAI PENG C. ONG Chief Finance Officer/ Compliance Officer ELMER B. SERRANO Corporate Secretary ARTHUR A. SY. Assistant Corporate Secretary MARVIN PERRIN L. PE Chief Risk Officer ALEXANDER D. POMENTO Vice-President – Investor Relations CHRISTOPHER S. BAUTISTA Vice-President – Internal Audit Stockholders present in person or 25,190,064,778 shares (Please see Record of represented by proxy Attendance here attached as Annex A) 1. Call to Order The meeting opened with an invocation followed by the Philippine National Anthem. The host then acknowledged the presence of all directors and key officers of SM Prime Holdings, Inc.
    [Show full text]
  • Philippine Business for Social Progress Victor E
    The Synergos Institute Voluntary Sector Financing Program Case Studies of Foundation-Building in Africa, Asia and Latin America Philippine Business for Social Progress Victor E. Tan and Maurino P. Bolante 1997 The preparation of this series of case studies No part of this publication may be reproduced was made possible by support from the Ford or transmitted in any form or by any means Foundation, the Aspen Institute, the C.S. Mott without the permission of The Synergos Insti- Foundation and the Compton Foundation. tute. Voluntary Sector Financing Program Case Studies: • The Foundation for the Philippine Environment • The Esquel Ecuador Foundation (Fundación Esquel-Ecuador) • Child Relief and You - CRY (India) • Foundation for Higher Education (Colombia) (Fundación para la Educación Superior - FES) • Philippine Business for Social Progress • The Puerto Rico Community Foundation • The Mexican Foundation for Rural Development • The Kagiso Trust (South Africa) Cross-Case Analyses: • Formation and Governance • Organizational Financing and Resource Generation • Program Priorities and Operations 2 Contents Synopsis 1 Sources 38 Preface 2 Charts Genesis and Origins 5 1: PBSP Strategies and Program The Birth of the Foundation 5 Directions 16 Membership Growth Through the Years 7 Tables Governance 9 1: Revenue Sources of PBSP Charting PBSP’s Direction, Vision, (1971-1976) 29 and Mission 9 2: Grants vs. Financial Advances Governance Structure 10 (in Millions) 31 Organizational Dynamics 12 3: Capital Fund 31 Governance and the National Political
    [Show full text]
  • The Family Business: Statistics, Profiles and Peculiarities by Sheelah E
    The Family Business: Statistics, Profiles and Peculiarities By Sheelah E. Johnston The family business is the world’s dominant form of business organization. Based on figures compiled by the Family Firm Institute (FFI), family firms comprise 80 to 90% of all businesses in North America. In the United Kingdom 75% of all businesses are family businesses. Contrary to most expectations, family businesses are not limited to small, “mom and pop” operations. Some of the world’s biggest and best-known companies are actually family-owned. In the United States, some 37% of Fortune 500 companies are family-owned while 60% of publicly-listed companies are family-controlled (FFI figures). Wal-Mart, Ford, Mars Corporation, J.P. Morgan, Firestone, DuPont and Levi Strauss are some examples of big family businesses in the U.S. Other family-owned or family-controlled multinational companies with popular brands include: L’Oreal (France), Benetton (Italy), Siemens (Germany), Ikea (Sweden), Lego (Denmark) and Kikkoman (Japan). In the Philippines, it is estimated that at least 80% of businesses are family-owned. In fact, most big corporations are family-owned or family-controlled. These companies, whose ownership may be already dispersed, are still identified with the founding family. They would include Ayala Corporation (Ayala family), Metrobank (George Sy Family), ABS-CBN and Meralco (Lopez family), J.G. Summit Holdings (Gokongwei family) and SM Prime Holdings (Henry Sy family). Although these companies are publicly listed and hence, ownership may include non-family shareholders, each family’s influence on these companies is still far-reaching: the top position is occupied by a family member.
    [Show full text]
  • February 19, 2011 February 15, 2014
    februarY 15, 2014 hawaii filiPino ChroniCle 1 ♦ FEBRUARY 15,19, 20142011 ♦ OPINION HAWAII-FILIPINO NEWS LEGAL NOTES Driverless Cars? ConGen torres, maYor hints of Possible Yes, almost Just CalDwell leaD traDe ComPromise on arounD the Corner mission to the PhiliPPines immiGration PRESORTED HAWAII FILIPINO CHRONICLE STANDARD 94-356 WAIPAHU DEPOT RD., 2ND FLR. U.S. POSTAGE WAIPAHU, HI 96797 PAID HONOLULU, HI PERMIT NO. 9661 2 hawaii filiPino ChroniCle februarY 15, 2014 EDITORIALS FROM THE PUBLISHER or hopeless romantics, February Publisher & Executive Editor The Mega Rich as 14th is one of the most antici- Charlie Y. Sonido, M.D. pated days of the year. It’s a day Publisher & Managing Editor Role Models that’s set aside to celebrate the Chona A. Montesines-Sonido ill Gates and Warren Buffet are household names in powerful human emotion called Associate Editors F love. When you think about it, Dennis Galolo the U.S. The multi-billionaires are rich, powerful and we should be showing our love Edwin Quinabo influential. But how many of us know of the late to those closest to us every day and not just Corliss Lamont, a Harvard graduate born of Wall Contributing Editor on special occasions like Valentine’s. On that note, Happy Belinda Aquino, Ph.D. Street wealth who championed the causes of poor B Valentine’s Day to all of you! Creative Designer people his entire life? Or Maud Younger (1870- Our cover story for this issue—“The 10 Wealthiest People Junggoi Peralta 1936), who despite coming from a wealthy family in San Francisco, in the Philippines” according to Forbes Magazine, was written worked for five years as a waitress to learn about working class Photography by our Philippine correspondent Gregory Garcia.
    [Show full text]
  • 06 April 2018 the PHILIPPINE STOCK EXCHANGE, INC. 6F
    06 April 2018 THE PHILIPPINE STOCK EXCHANGE, INC. 6F Philippine Stock Exchange Tower 5th Avenue corner 28th Street Bonifacio Global City, Taguig City Attention: Mr. Jose Valeriano B. Zuño III OIC – Head, Disclosure Department PHILIPPINE DEALING & EXCHANGE CORP. 37F Tower 1, The Enterprise Tower 6766, Ayala Ave. cor. Paseo de Roxas Makati City Attention: Ms. Erika Grace C. Alulod Head – Issuer Compliance and Disclosure Department (ICDD) Dear Mr. Zuño and Ms. Alulod: Please find attached list of Top 100 Stockholders of East West Banking Corporation (EW) as of March 31, 2018. Thank you. Sincerely, Vincent A. Villanueva Finance Officer Stock Transfer Service Inc. Page No. 1 EAST WEST BANKING CORPORATION List of Top 100 Stockholders As of 03/31/2018 Rank Name Holdings Rank ------------------------------------------------------------------------------------------------------------------------ 1 FILINVEST DEVELOPMENT CORPORATION 600,090,678 40.01% 2 FILINVEST DEVELOPMENT CORPORATION FOREX 394,941,030 26.33% 3 PCD NOMINEE CORPORATION (FILIPINO 240,047,743 16.00% 4 FDC FOREX CORPORATION 162,780,346 10.85% 5 PCD NOMINEE CORPORATION (NON-FILIPINO) 99,045,065 06.60% 6 ALFONSO S. TEH 500,000 00.03% 7 TEAM GLADIOLA, INC. 497,287 00.03% 8 PHILIPPINE AIR FORCE EDUCATIONAL FUND, INC. 390,000 00.03% 9 WASHINGTON SYCIP 322,000 00.02% 10 GERARDO SUSMERANO 320,000 00.02% 11 MANUEL A. SANTIAGO &/OR ELLA C. SANTIAGO 220,400 00.01% 12 MIRIAM CHENG BONA ITF MARK JERICHO C. BONA 100,000 00.01% 13 JOSHUA CHENG 100,000 00.01% 14 QUIRINO CHEONG GOTAUCO 87,732 00.01% 15 IVY B. UY 75,000 00.01% 16 CATHERINE L TAN 60,000 00.00% 17 MIGUEL T TAN 60,000 00.00% 18 GURPREET SINGH GREWAL 40,500 00.00% 19 EDWIN U.
    [Show full text]