Briefs: Pag-IBIG Fund home loan payments hit P38.5B

Buoyed by the strong collection of home loan payments in the last nine months, Pag-IBIG Fund’s performing loans ratio climbed to an all-time high, its top executives said.

From January to September, the agency collected P38.56 billion, which is 12 percent or P4.17 billion higher than the amount collected in the same period last year. The amount is also a record high in terms of home loan payments collected by the agency for any January to September period.

“Collections remain robust as we sustained our momentum from 2018, which is our best year yet. We still have another quarter to go before this year ends but we are confident that 2019 will be another banner year because we continue to grow at a double-digit pace. In the third quarter alone, home loan payments grew 20 percent year-on-year to P13.98 billion.

“Strong collections not only reinforce Pag-IBIG Fund’s financial sustainability, but also benefits our members because the amount we collect are then plowed back to our housing portfolio so that more members can avail of affordable home loans from Pag-IBIG Fund. This is our way of heeding President Duterte’s call to address the growing housing needs of Filipino workers,” said Secretary Eduardo D. del Rosario, who heads both the Housing and Urban Development Coordinating Council and the 12-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund chief executive officer Acmad Rizaldy Moti added that because of the improvements in its collection efficiency, the agency was able to reach a record high performing loans ratio (PLR).

As of September, PLR reached 91.03 percent — the highest in the history of the Pag-IBIG Fund. In 2012, the agency’s PLR stood at a low 75 percent. Through several reforms, the agency improved its portfolio until it reached 90 percent for the first time in 2017. Its PLR further improved to 90.23 percent by the end of 2018 and increased further to its highest figure to date.

Phoenix opens two new airside facilities in Vismin

Following the opening of its first airside depot at the Francisco Dagohoy International Airport in Davao City, Phoenix Petroleum continues its aggressive growth in aviation with the opening of two more new airside facilities in Visayas and Mindanao.

Within a week, Phoenix airside depots were opened at the Bacolod-Silay Airport and at the General Santos International Airport — the first ones to be built and to operate in those airports.

Equipped with 80,000 liter-storage tanks for Jet A-1 fuel, each facility will enable Phoenix to provide streamlined services to its growing aviation clients.

“As part of our efforts to strengthen our network in the aviation industry, we have also been improving our services to be able to meet the requirements of our clients better. The construction of these airside facilities will be most beneficial to them as these will greatly improve our efficiency and effectivity as a fuel provider for their aircrafts,” Phoenix Petroleum chief operating officer Henry Albert Fadullon said.

Since 2005, Phoenix Petroleum has been providing terminals, hauling, and into-plane services in 18 airports in the country for its aviation clients. This year, the company marked the 15th anniversary of its partnership with its longest commercial client, Cebu Pacific Air. Last month, Phoenix also announced its partnership with the country’s flag carrier, Philippine Airlines, for a fuel supply deal at Davao airport.

FedEx Express, the world’s largest express transportation company and subsidiary of FedEx Corp. continues to support the growth of local businesses through trainings to help entrepreneurs gain valuable business insights.

E-commerce in the Philippines grew to $840 million in 2018 from $688 million the previous year and it is expected to grow by 10.5 percent annually. This trend is connecting consumers and entrepreneurs from around the world, and has allowed businesses, regardless of scale, to overcome geographical constraints and reach more markets.

To help SME start their journey to grow their business, John Peterson, FedEx Express managing director said that FedEx organized training sessions to educate entrepreneurs on the FedEx tools available to them to leverage and expand their global footprint.

The FedEx Master Class workshops offer a wide range of topics to address a customer’s needs — from identifying the proper documents for import and export, shipping dangerous goods, going digital with FedEx automation tools and maximizing the services offered by FedEx and TNT.

To date, over 230 companies have attended the FedEx Master class in Ortigas, Quezon City, Laguna, Cavite and Clark.

In these classes, FedEx also discusses treaties such as the European Free Trade Agreement and the Generalized System of Preferences to help customers optimize their global trade strategies.