PPA Set to Remit Highest Dividend in its Entire Corporate Life to National Coffers

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The Philippine Ports Authority (PPA) is set to remit more than P3 billion in dividend, its highest contribution to the National coffers since 1986.

The state-owned agency’s dividend for 2017 also eclipsed by at least 30% all the dividends it remitted to the government at least in the last decade, including its erstwhile record of P2.158 billion remitted in 2015.

PPA is mandated to remit 50% of its annual net income to the National Government after it was granted fiscal autonomy during the term of President Corazon C. Aquino.

According to PPA General Manager Jay Daniel R. Santiago, the agency was able to post record-breaking figures due to the reforms implemented by the new administration.

“This is a clear manifestation that we are reaping the benefits of the reforms management implemented in the last two years, that include among others, reduction of documentary requirements, faster turnaround time of trucks and vessels in ports, and modernization of strategic ports,” Santiago exclaimed.

“The continuing review of other processes involving port operations, compliance with the Quality Management Standards, and adoption of world’s best practices in port operations will definitely boost PPA’s financial standing in the next couple of years,” Santiago stressed.

“With the higher dividend, we can guarantee that the National Government can easily implement its anti-poverty measures, particularly in the areas of infrastructure spending and healthcare benefits,” Santiago added.

Compared to the 2016 dividend it remitted to the government last year, the 2017 figure is higher by 54% from P1.956 billion due to the strong performance of the Manila ports composed of the Manila International Container Terminal operated by International Container Terminal Services, Inc., the Manila South Harbor, run by Asian Terminals, Inc., and the North Port, managed by Manila North Harbour Port, Inc., complemented by the PPA’s 24 other Port Management Offices, which likewise posted favorable performances in the past year.

The agency's total expenses for 2017 increased by some 11% as a result of increased productivity in project implementation at a rate of 90% compared to 7% a year earlier.

“This is a very welcome development for the PPA considering that it has forecasted earlier that growth is at best flat for 2017 due to concerns clouting the country’s mining industry and the volatile foreign exchange rates,” Santiago said.

In the last couple of years, the PPA is a regular member of the ‘Billionaires Club’ of Government Owned and Controlled Corporations contributing billions of pesos in dividends. With this incoming all-time high dividend by PPA, it is expected to maintain its inclusion in the elite list of GOCCs.

Metro Finance Congress (MFC) 2018: PhiliFinance

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In line with the advocacy of the Junior Financial Executives PUP – Manila in promoting financial literacy, it will be holding its Metro Finance Congress on March 19, 2018 at Bulwagang Balagtas, PUP Main Campus.

The Metro Finance Congress is a one-day conference that aims to endow the 900 student participants taking up finance and other business – related fields from within the PUP and from other universities in Metro Manila with ample knowledge about the Financial System here in the Philippines. Furthermore prudent choice of resource speakers from the different fields under business, banking and finance will be done to assure a fine discourse of the topic.

ABOUT JUNIOR FINANCIAL EXECUTIVES – PUP:

The Junior Financial Executives – PUP Manila is a student-run organization with over 1800 active members, making it listed as one of the biggest JFINEX chapters in the Philippines. The organization intends to promote financial literacy to its members by upholding awareness about the field of banking and finance. With its initiative of moulding its members to become successful finance professionals in the future, the organization has been holding different interactive academic and non-academic events. Its goal for the academic year 2017-2018 is to build relationship with likeminded people during its promotion of financial literacy. The organization aspires to create a lasting difference not just to the lives of the members of its department but also to the whole PUP community through finance.


For more information, check: www.facebook.com/JFINEX.ORG.PUP

Drew Barrymore and Timothy Olyphant in PH for Sta. Clarita Diet Season 2 Red Carpet Premiere

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"If you're going to go through hell... I suggest you come back learning something." ― Drew Barrymore


Drew Barrymore is one of the most successful child stars of all time and continued her success as an adult. She was my crush since Scream, Charlie’s Angels, and 50 First Dates.

But it is unknown to many that she is an all-out bisexual and feminist. It was said that she was severely neglected by her parents, allowed to snort cocaine with her mother by the age of 13.

Hollywood star Drew Barrymore is now back in Manila. In an instagram post, the actress shared a video of her before flying to Manila and a photo of her arrival at the airport. 

“We have arrived. Safe, as you can see! So many guards I feel like a alterna grunge princess.”

Together with Timothy Olyphant, the actress arrived in the Philippines, specifically at Mega Fashion Hall of SM Megamall in Mandaluyong, on March 12 for the Red Carpet Premiere of the gleefully gory season 2 of Santa Clarita Diet. The premiere screening was held at the cinema of the mall.

Santa Clarita Diet, Netflix's dark, hilarious contribution to the zombie genre, is returning for a second season on March 23!

The Philippines is one of only two countries the stars are visiting to promote season 2 of the Netflix show.

“Life is very interesting. In the end, some of your greatest pains become your greatest strengths.” —Drew Barrymore