The Land Bank of the Philippines is taking steps to make its direct lending programs more accessible and affordable for small farmers and fishers (SFFs), in line with its aggressive drive to intensify support to the sector. “We understand that applying for loans can be intimidating, especially for small farmers and fishers, so we have started making basic improvements in our processes to make it easier for them to avail of loans,” said LANDBANK President and CEO Cecilia C. Borromeo. Among the basic enhancements which the Bank made is the simplification of the loan application form, which has been condensed into one document – from what used to be three separate documents (i.e. Application Form, Sworn Statement/Attestation, and Data Privacy Consent). Completing the form is also now more straightforward with mostly tick boxes, to make it easier for farmers and fishers. The promissory note which used to be a 14-page document has also been simplified and shortened to one page. Basic documentary requirements have likewise been trimmed down. SFF borrowers of the Agricultural Competitiveness Enhancement Fund (ACEF) Lending Program, for instance, will only need to submit a loan application form, a simple farm plan, and barangay clearance. More affordable The Bank also made its programs more affordable by standardizing the interest rates at 5% per annum for most direct lending programs for SFFs. These include the Accessible Funds for Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs) Program, which provides loans to finance production of rice, corn, and high-value crops, as well as the acquisition of small farm implements. Retail lending programs for SFFs that the Bank administers for the Department of Agriculture also now have interest rates fixed at 2% p.a. These include the ACEF Lending Program and the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) funded by the Sugar Regulatory Administration. Also available at an interest rate of 2% p.a. is the Expanded Rice Credit Assistance under the Rice Competitiveness Enhancement Fund (ERCA-RCEF). Under the Program, LANDBANK will lend up to P500 million annually for the next six years to rice farmers registered in the Registry System on Basic Sectors in Agriculture or RSBSA, and to DA-accredited cooperatives. For on-lending by cooperatives under ERCA-RCEF, interest rate is at 0% p.a., as long as effective pass-on rate to end borrowers is not higher than 6% p.a. Faster Processing of loan applications is also quicker – with average turn-around time of just one day as against the maximum 10-days commitment to the Governance Commission for GOCCs. This is provided that the borrower submitted complete documents and credit/background investigation is favourable. “This is just the beginning as we are actively looking for ways to further improve the loan application process for our farmer and fisher borrowers. Through these efforts, we hope to encourage them to go to LANDBANK instead of borrowing from informal lenders who charge significantly higher rates,” Borromeo added.
READ MOREGARBEMCO manages a rubber plantation in Goodyear, Kabasalan, Zamboanga Sibugay and is currently one of the major rubber producers in the area. For a community of 312 Agrarian Reform Beneficiaries (ARBs) in Kabasalan, Zamboanga Sibugay, a 1,000-hectare plantation of rubber trees is the primary source of income and livelihood. These ARBs have established a profitable system of maintaining the rubber trees, gathering produce and selling them, thanks to the organization they formed in 1992 – the Goodyear Agrarian Reform Beneficiaries Multi-Purpose Cooperative (GARBEMCO). The Cooperative itself generates employment in the community. In 2018, GARBEMCO provided jobs to 321 individuals. They harvest around 600 bales of crumb rubber per week, which are packed at 33.33 kilos per bale. GARBEMCO sells these bales at P60 per kilo, mostly to the local market, and some to areas in Cebu and Cagayan de Oro. According to GARBEMCO General Manager Lilia Manuel, the rubber plantation has been a profitable venture for the Co-op, as supplemented by other businesses including credit operations, fishpond operations, abaca production, handicraft making, consumer store, rice field rental, rice milling and trading, and hauling services. To help the Co-op further enhance its business, LANDBANK approved a new loan on September 17, 2019 to finance its working capital requirement for rubber production, rice milling and trading, consumer store, and fishpond and abaca production. Through the years, LANDBANK has been supportive of GARBEMCO’s endeavors as the growth of the Co-op redounds to the benefit of its ARB members. GARBEMCO and LANDBANK’s relationship can be traced back to 1995. The Co-op was still in its early years and was suffering from low production due to hectares of senile rubber trees. When the Bank extended an agricultural production loan, the Cooperative was able to rehabilitate its plantation and managed to transcend the challenges in its operations. Another loan was extended to GARBEMCO in 2012, which the Co-op used for replanting purposes covering a total area of 238 hectares. This helped the Co-op further grow its rubber business. From being besieged by various problems, the Cooperative has now grown and is reaping the rewards of sound operations. Apart from making the necessary reorganization in the management team, it also made efforts to improve its operational capacity through trainings on risk and capacity building, among others, under the supervision of the LANDBANK Countryside Development Foundation, Inc. GARBEMCO General Manager Manuel said, “We are grateful to the Land Bank of the Philippines for the financial and technical assistance provided to our Cooperative to enhance and strengthen our operation. Looking forward to more fruitful years of partnership because LANDBANK indeed helped us grow!” As the Bank aggressively expands its retail lending programs to provide farmers and fishers with direct access to credit, it continues to channel financing support to the sector through partner conduits, such as farmers’ and fishers’ cooperatives, irrigators’ associations, and countryside financial institutions. For more information on LANDBANK’s lending programs, visit www.landbank.com or the nearest LANDBANK Lending Center.
READ MOREManila City Mayor Isko Moreno (3rd from left) and LANDBANK President and CEO Cecilia C. Borromeo (4th from left) present the signed Loan Agreement for P10 billion which will finance various development project in the City. Joining them are LANDBANK Executive Vice President for Branch Banking Sector Joselito P. Gutierrez (extreme right), LANDBANK Executive Vice President for Agricultural and Development Lending Liduvino S. Geron (2nd from right), Secretary to the Mayor Bernardito C. Ang (extreme left) and City Budget Officer Atty. Mary Grace Chua (2nd from left). Complementing his vigorous campaign to clean-up the streets of Manila from garbage and eyesores, Manila Mayor Isko Moreno is also focusing on upgrading the city’s health, educational, tourism and public services facilities. On November 11, 2019, the City Government of Manila signed a P10-billion Loan Agreement with Land Bank of the Philippines (LANDBANK) under the Bank’s Omnibus Term Loan Facility (OTLF). The approved loan facility will be used to finance the following: (1) construction and renovation of the Ospital ng Maynila Medical Center, the Pamantasan ng Lungsod ng Maynila School of Medicine Building, the new City Hall building, and the Manila Sky Deck; (2) the rehabilitation of Manila Zoo and the development of Pandacan Depot into a commercial district; and (3) the acquisition of equipment, furniture and fixture for these projects. Present during the loan signing were LANDBANK President and CEO Cecilia C. Borromeo, Executive Vice President for Agricultural and Development Lending Liduvino S. Geron, who signed for the Bank, and Senior Vice President for Corporate Banking Ma. Celeste A. Burgos as witness. They were joined by Executive Vice President for Branch Banking Joselito P. Gutierrez and First Vice President for North NCR Branches Marilou L. Villafranca. Also present were City Legal Officer Atty. Genaro Jose Emeterio S. Moreno, Jr., OIC of the Treasury Department Ma. Jazmin A. Talegon, City Accountant Maria Lourdes R. Manlulu, Secretary to the City Mayor Bernardito C. Ang, and City Budget Officer Atty. Mary Grace Chua. “Over the years, LANDBANK has worked closely with local government units nationwide and has remained the biggest provider of financial assistance and development financing to the sector because we believe that local government is the biggest, if not the most integral, link between the national government and their respective localities,” said President Borromeo. The Bank’s OTLF allows qualified provinces, municipalities, and cities to avail of loans for projects that are listed in their Approved Local Development Plan or Annual Investment Program. This eliminates the inconvenience and associated transaction cost in having to secure loan approval for every single project to be implemented.
READ MORELANDBANK Treasury and Investment Banking Sector Head Executive Vice President Carel D. Halog (right photo) discusses the convenience of purchasing the Premyo Bonds via the LANDBANK Link.BizPortal during its recent launch. The Premyo Bonds launch was led by (left photo) National Treasurer Rosalia V. De Leon (third from right), together with (from right to left) China Bank Capital Corporation President Ryan Martin I. Tapia, LANDBANK EVP Halog, DBP President and CEO Emmanuel G. Herbosa, BDO Capital and Investment Corporation Eduardo V. Francisco, and First Metro Investment Corporation President Rabboni Francis B. Arjonillo. As part of its support to the government’s thrust to make government securities more accessible to the general public, Land Bank of the Philippines (LANDBANK) makes available its online payment facility—Link.BizPortal—as a convenient way for its account holders to invest and purchase the Bureau of Treasury’s (BTr) on-going Premyo Bonds offering. LANDBANK announced this initiative during the launch of the Premyo Bonds last November 25, 2019 at the Bulwagan ng Diwang Pilipino, Development Bank of the Philippines (DBP) Head Office, Makati City. National Treasurer Rosalia V. De Leon led the launch together with top executives from partner banks in both private and public sectors, namely DBP President and CEO Emmanuel G. Herbosa; BDO Capital and Investment Corporation Eduardo V. Francisco; China Bank Capital Corporation President Ryan Martin I. Tapia; First Metro Investment Corporation President Rabboni Francis B. Arjonillo; and LANDBANK Executive Vice Presidents Carel D. Halog and Alan V. Bornas representing LANDBANK President and CEO Cecilia C. Borromeo. EVP Halog presented a step-by-step process in using LANDBANK’s Link.BizPortal for a more convenient way to invest in the Premyo Bonds. “This is a trailblazing effort to help reach the retail investors as part of the government’s financial inclusion efforts, through LANDBANK’s Link.Biz Portal,” EVP Halog said. Premyo Bonds are part of the government’s savings mobilization program designed to make government securities more accessible to retail investors. Proceeds from these will be used to fund government programs on education, housing, and healthcare, among others. “The Premyo Bonds is a public-private partnership for Filipinos to get into the habit of investing,” Treasurer De Leon said during the launch. For as low as Php500.00, interested individuals, cooperatives, provident funds, and retirement funds can invest in these bonds with a fixed 3% interest rate per annum. Investors also automatically qualify for a raffle entry for a chance to win as much as P1 million and other prizes such as condo unit or house and lot. Offer period will run from November 25 to December 13, 2019. For more information, visit https://www.treasury.gov.ph/premyobonds/.
READ MOREBangko Sentral ng Pilipinas Governor Benjamin E. Diokno (3rd from left) leads the launch of the EGov Pay and QR Ph last November 20, 2019 with (left to right) RCBC President and CEO Eugene S. Acevedo, LANDBANK President and CEO Cecilia C. Borromeo, PayMaya Founder and CEO Orlando B. Vea, UnionBank President and CEO Edwin R. Bautista. Land Bank of the Philippines (LANDBANK) announced that it has already enrolled nearly 700 merchants to its Link.Biz Portal, which facilitates electronic payment to various government and private merchants, in support of the Government e-Payments (EGov Pay) Program of the Bangko Sentral ng Pilipinas (BSP). This makes LANDBANK the first bank to implement the EGov Pay. At the recent launching of the BSP’s EGov Pay and National Quick Response Code Standard (QR Ph) Programs, LANDBANK said a total of 349 government agencies and 332 private institutions to date are already enrolled in LANDBANK’s Link.Biz Portal, such as the Bureau of Internal Revenue (BIR), Philippine National Police (PNP), Philippine Overseas Employment Administration (POEA), Professional Regulation Commission (PRC), and the Department of Trade and Industry (DTI), among others. LANDBANK developed the Link.Biz Portal, together with the Philippine Payments Management, Inc. (PPMI) and PESONet, in support of the National Retail Payment System (NRPS), a policy framework that seeks to establish a safe, efficient and reliable retail payment system in the country. “We congratulate the BSP for these milestone initiatives. LANDBANK supports these programs as the safest, most convenient and cost-efficient means of accelerating digital payments across the country. Through our Link.Biz Portal, we are able to help government collect revenues efficiently, which facilitates the prompt delivery of social services to the public through a quick and safe payment mechanism via the internet,” said LANDBANK President and CEO Cecilia C. Borromeo. Link.Biz Portal is designed to allow clients to conveniently pay for products and services online for both government and private institutions, using LANDBANK and other PESONet PayGate participating banks accounts, BANCNET-partner issuing bank accounts, Globe G-Cash accounts, and cash payment option. Meanwhile, LANDBANK said it has also adopted the QR Code for person-to-person (P2P) fund transfers between LANDBANK account holders. The QR Code is a two-dimensional bar code which stores digital information and allows clients to transfer funds to a destination account via an online channel or application, where clients could scan/import the recipient banks’ QR Code via their mobile devices.
READ MOREConsistent with its goal to provide additional means for farmers to access credit assistance, Land Bank of the Philippines (LANDBANK) recently launched the nationwide implementation of the Sulong Saka Program which is designed to promote wider crop diversification, particularly for high-value crops. LANDBANK has allotted a total of Php 10 billion for the Program to help small farmers increase their production of high-value crops such as vegetables (highland, lowland, spices, legumes); fruits (mango, banana, pineapple); industrial crops (abaca, bamboo, coffee, cacao, rubber, oil palm); and alternative food staple crops (saba-cardaba, soybean, root crops). “The Sulong Saka Program is part of our aggresive efforts to intensify support interventions to the agriculture sector. With this new lending program, we are helping our farmers avail of more financial support to increase their crop yield and in turn, increase income for their families,” LANBANK President and CEO Cecilia C. Borromeo said. “At the same time, we want our farmers to consider engaging in high-value crop production to improve the country’s crop diversity, which is currently dominated by traditional crops like rice, corn, and coconut,” she added. Aside from promoting crop production, the Sulong Saka Program also supports projects that involve the processing and marketing of high-value crops. Farmers can apply for financial support for the establishment of nursery, budwood or mother and plant or parent clone gardens; new plantation, replanting, rejuvenation, and rehabilitation of old trees; post-harvest projects; as well as trading and export activities. Individual small farm holders can apply for the loan with an affordable interest rate of 5% per annum. Other eligible borrowers include small and medium enterprises (SMEs), cooperatives, farmer associations and organizations, large agribusiness enterprises and corporations, local government units (LGUs), non-government organizations (NGOs), and countryside financial institutions (CFIs). The Sulong Saka Program is a new addition to LANDBANK’s credit loan portfolio for farmers, which already includes the Accessible Funds for Delivery to Agrarian Reform Beneficiaries (AFFORD-ARBs) Program, the Sikat Saka Program in partnership with the Department of Agriculture (DA), the Socialized Credit Program under the Sugarcane Industry Development Act (SCP-SIDA) funded by the Sugar Regulatory Administration, the Agricultural Competitiveness Enhancement Fund (ACEF), and the Rice Competitiveness Enhancement Fund (RCEF), among others. Interested borrowers may visit the nearest LANDBANK Lending Center or visit the official website at www.landbank.com, or contact the 24/7 customer service hotline at (02) 8-405-7000 or at PLDT Domestic Toll Free 10800-10-405-7000, for more information.
READ MORELANDBANK President and CEO Cecilia C. Borromeo and CHED and UniFAST Governing Board Chairman J. Prospero de Vera III lead the signing of the Memorandum of Agreement for the Tertiary Education Subsidy (TES) Program. With them were (L-R) Association of Local Colleges and Universities (ALCU) Vice President Elena E. Presnedi, UniFAST OIC Executive Director Atty. Carmelita Yadao-Sison, and LANDBANK Branch Banking Sector OIC, Senior Vice President Ramon R. Monteloyola. In line with its thrust of extending access to formal banking services, the Land Bank of the Philippines (LANDBANK) has partnered with the Commission on Higher Education (CHED) and the Unified Student Financial Assistance System for Tertiary Education (UniFAST) to provide efficient and convenient financial support to poor but deserving students. LANDBANK President and CEO Cecilia C. Borromeo and CHED and UniFAST Governing Board Chairman J. Prospero de Vera III formally signed the Memorandum of Agreement (MOA) to co-implement the Tertiary Education Subsidy (TES) Program last December 27 at the Centro Escolar University in Manila. Under the TES Program, more than 400,000 student-grantees from public and private higher education institutions nationwide will be issued LANDBANK Cash Cards for their monthly stipends to cover expenses for supplies, transportation, room and board, and other personal and school needs. The collaboration is aligned with LANDBANK’s continuous commitment to promote financial inclusion and widen access to banking facilities by reaching more underserved Filipinos all over the country. “Through the use of our LANDBANK Cash Cards, students will enjoy the ease and convenience of receiving their monthly allowances via our automated teller machines (ATMs) and branches nearest them. More importantly, this ensures the safe and efficient delivery of their stipends for school needs and education-related expenses on time and without any delays,” President Borromeo said. Student-beneficiaries under the TES Program will be able to access their allowances via LANDBANK’s network of 2,195 ATMs and 409 branches nationwide, as well as point-of-sale (POS) facilities. In addition, student-beneficiaries are qualified to use LANDBANK’s phone banking and online banking facilities and services for easier and faster financial transactions. “Rest assured that we will do our share to make this Program successful. We are one with CHED and UniFAST in helping provide inclusive and quality education that will help shape the lives of the country’s future generations,” President Borromeo added. LANDBANK will receive the list of student-beneficiaries from UniFAST, which includes beneficiaries under the ongoing Expanded Students’ Grant-in-Aid Program for Poverty Alleviation (ESGP-PA) and students belonging to poor or near-poor households based on the Listahanan 2.0 of the Department of Social Welfare and Development (DSWD), among others. The TES Program forms part of the implementation of Republic Act 10931 or the Universal Access to Quality Tertiary Education Act.
READ MORELANDBANK President and CEO Cecilia C. Borromeo (3rd from right) and Cooperative Development Authority (CDA) Chairman Orlando R. Ravanera (2nd from right) led the signing of the Memorandum of Agreement for the Financial Inclusion Through Cooperatives (FIT-Coop) Program that will support unbanked and underserved micro and small cooperatives all over the country. This was witnessed by LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron (leftmost) and CDA Executive Director Ray R. Elevazo (rightmost). The Land Bank of the Philippines (LANDBANK) and the Cooperative Development Authority (CDA) have joined hands anew for the Financial Inclusion Through Cooperatives (FIT-Coop) Program, an initiative that will provide capacity-building support to micro and small cooperatives in unbanked and underserved areas nationwide. LANDBANK President and CEO Cecilia C. Borromeo and CDA Chairman Orlando R. Ravanera led the signing of the Memorandum of Agreement (MOA), together with CDA Executive Director Ray R. Elevazo and LANDBANK Agricultural and Development Lending Sector Head Executive Vice President Liduvino S. Geron. Through the FIT-Coop Program, a total of 220 cooperatives with more than 31,000 members from 92 unbanked municipalities all over the country will undergo financial literacy trainings that would better prepare them to access formal credit assistance. “The signing of this MOA for the FIT-Coop Program is a momentous and historical event— a great breakthrough in putting those in the margins into the mainstream of the development process. This will also be a great leap forward for CDA to fulfill its mandate to promote the viability and growth of cooperatives as instruments of social justice and economic development,” CDA Chairman Ravanera said. LANDBANK President Borromeo said the FIT-Coop Program is also a clear display of the Bank’s continuous commitment to reach the smallest cooperatives in the most far-flung areas and empower them to become catalysts for inclusive growth in the countryside. “LANDBANK is no stranger to cooperativism. We know that a lot more can be done if we collaborate with them. Communities have transformed into very progressive local economies because of cooperatives. The crucial thing is we strengthen the weak micro and small cooperatives so that they can grow and access formal lending programs,” President Borromeo said. Under the FIT-Coop Program, assesment tools from both CDA and LANDBANK were utilized to develop the Cooperative Assessment Tool—an instrument which will measure a cooperative’s maturity level and readiness for different support services. In addition, an Environmental Mapping or Scanning Tool was likewise devised to identify necessary but missing facilities in the community which hamper the cooperative’s growth and development. The CDA and LANDBANK will then refer the data collected from these tools to relevant government agencies to further help cooperatives thru possible developmental interventions. President Borromeo added that this strategy is very much aligned with the Duterte Administration’s “whole-of-government approach”, wherein relevant government agencies collaborate and synergize efforts to achieve more significant results.
READ MOREBatangas Governor Hermilando I. Mandanas (8th from left) receives a check from LANDBANK Batangas City Branch Manager Assistant Vice President Remedios M. Manay (7th from left) as part of the Bank’s financial support to a total of 44 local government units (LGUs) affected by the recent eruption of Taal Volcano. They are joined by members of the Sangguniang Panlalawigan of the Province of Batangas. State-owned Land Bank of the Philippines (LANDBANK) is doing its share to help ease the burden of local government units (LGUs) affected by the recent eruptive activities of Taal Volcano by donating financial assistance to calamity-stricken LGUs for their respective relief operations. The Bank has provided a total of Php3.3 million in financial assistance to 44 LGUs in the Provinces of Batangas, Cavite and Laguna. The amount of donated funds varied depending on the extent of damage sustained by the LGU, in accordance with the Bank’s existing policies on donations. “More than 150,000 residents have been displaced in communities surrounding Taal Volcano. They are now housed in hundreds of evacuation centers in nearby cities and municipalities. With the volume of evacuees, LGUs hosting these centers need all the help they can get. This is our way of supporting the LGUs, which are among the Bank’s most valued clients,” said President and CEO Cecilia C. Borromeo. In Batangas, the Provincial Government led the recipients of the donation, together with the cities of Batangas, Lipa and Tanauan. Also receiving support were the municipalities of Agoncillo, Lemery, San Nicolas, Mataas na Kahoy, Balete, Talisay, Laurel, Taal, Cuenca, Calaca, Sta. Teresita, Bauan, Mabini, Alitagtag, Malvar, Sto. Tomas, San Luis, San Jose, Balayan, San Pascual, Nasugbu, Ibaan, Rosario, Tuy, San Juan, Lian, Padre Garcia, Calatagan, and Taysan. The Bank also donated to the cities of Cabuyao, Sta. Rosa, Biñan, San Pedro and Calamba in Laguna, and is expected to donate within the week to the Provincial Government of Cavite, the City of Tagaytay, and the municipalities of Alfonso, Amadeo, Indang and Mendez. Earlier, LANDBANK announced it has expanded its Calamity Rehabilitation Support (CARES) Program to provide financial support to more sectors severely affected by natural calamities such as the eruption of Taal Volcano, man-made disasters like armed conflicts, and viral infection outbreaks such as the African Swine Fever (ASF). Under the enhanced CARES Program, individual small farmers and fishers, livestock raisers, large agri-enterprises (LAEs), salaried workers, and academic institutions such as schools, universities and colleges, have been added as eligible borrowers. This complements the existing eligible borrowers under the Program, namely, LGUs, disaster-affected home owners, small and medium enterprises (SMEs), cooperatives, non-government organizations (NGOs), and partner financial institutions (PFIs) such as rural banks. The Program consists of two types of credit assistance—rehabilitation/reconstruction credit program and rehabilitation through loan restructuring—which may be used for the repair of damaged facilities, construction or acquisition of new facilities and equipment, repair or purchase of housing units, working capital for agriculture production, and as capital for a lending facility of cooperatives, SMEs and NGOs for home and livelihood financing. Meanwhile, LANDBANK’s Lemery Branch remains closed until further notice. However, its clients may transact with the Bank through the LANDBANK Bauan Branch or at any branch located in Batangas.
READ MOREUse your Visa and get the chance to witness greatness at the Olympic Games Tokyo 2020! Spend at least P3,000 with your Visa at participating SM Supermalls until February 15, 2020 for a chance to witness greatness at the Olympic Games Tokyo 2020, courtesy of Visa. Merchant Terms & Conditions 1. Promo runs from November 11, 2019 to February 15, 2020. 2. Shop and dine at participating SM Supermalls using your Visa debit, credit, or prepaid card and get a chance to win 1 out of 4 trips for two to Tokyo for the 2020 Olympics. Each winner will receive: i. Round-trip Economy Flight for Two (2) to Tokyo, Japan ii. 3 nights’ hotel accommodation (4-star) at the Intercontinental Tokyo Bay iii. Airport Transfers in Tokyo iv. Daily Breakfast v. 2 Olympic Events (skateboarding and basketball) vi. Transportation to/from Olympic events and activities vii. Group Activity viii. Visa Prepaid Product - $300 USD Value per package ix. Guest amenity/ gift - $400 USD Value per package x. Access to the Visa Everywhere Lounge (offsite) xi. Visa Concierge located at the hotel + Visa event support staff Merchant Offers Resource Center Content Downloaded On: November 26, 2019 01:39 2 Exclusions include but are not limited to: train, car, taxi, or other travel costs aside from above mentioned; any meal, event and/or activity outside of program schedule including transportation; translation services; athlete appearances; guest travel insurance, any applicable taxes; tourist entry visas and passports; hotel incidentals (e.g. phone, mini-bar, laundry, etc) 3. Receive 1 raffle entry for every PHP 3,000 presented in single or accumulated receipts. Triple your chances of winning when you purchase at an SM affiliate. Customer will not be allowed to combine receipts between affiliate and non-affiliate to triple raffle entry. *Receipt for bills payment and services not included in raffle entries. 4. Also get a chance to win 1 out of 200 Visa Olympics merchandise when you exclusively purchase at an SM affiliate. 5. Participating affiliates are: The SM Store, Ace Hardware/ Ace Builders, Our Home, Toy Kingdom, Pet Express, Kultura, Surplus Shop, Sports Central, Adidas/Nike Shop/ New Balance, Levi’s Mall, The Body Shop, Crocs, Miniso, Bata, Under Armour, Innisfree, Dyson, Crate & Barrel, Baby Company, Joseph, CK Platinum. 6. Fill out the e-raffle with complete name, age, address, contact number, first digit and last 4 numbers on credit card in SM-Visa raffle booths located in SM Aura Premier, SM Megamall, the Podium, SM North EDSA, SM Mall of Asia, SM Southmall, and SM Seaside City Cebu. Deadline of submission of entries is on February 15,2020 at 10 PM or mall’s closing hours. 7. Customer must be 18 years old or older to join the promo. 8. Raffle draw will be held on February 27, 2020, Thursday at SM Aura Premier’s Admin Office, 6:00 PM. A DTI representative will be invited to witness the raffle draw. All drawn winning accounts shall be validated; in case any information is incorrect, the entry will be disqualified. Prizes may be claimed until April 26, 2020 or 60 days from receipt of notification. i. Winners can only be drawn once. In case a name was drawn more than once, he/she will get the prize of higher value. ii. Passport should be valid at least six (6) months before the travel date. iii. All out-of-pocket expenses are the responsibility of the individual prize winner and, where applicable, their nominated guest. iv. Participants shall be solely responsible for travel documents, visa, and any taxes or duties payable by them as a result of participation in the promotion or winning or using the prize. v. SM Supermalls and Visa reserve the right to verify the eligibility of the winning entry. That is, the winner’s Visa card account must be active and in good standing for the duration of the raffle draw and the 60-day redemption period. 9. Winners will be notified via phone call through contact details given, and announced via social media sites of participating SM Supermalls. Winners will be given sixty (60) days from receipt of notification to claim the prize. After the 60-day claiming period, unclaimed prize will be forfeited in favour of SMM Supermalls’ participating malls with prior approval of DTI. i. Upon claiming his/her prize, winner must present registered mail, two (2) valid forms of identification or government-issued I.D. (any of the following: Driver’s License, SSS I.D, Passport, Birth Certificate, TIN). ii. Winner must present his/her winning VISA credit card upon claiming his/her prize. iii. Requirement of winner’s representative in claiming the prize – an authorization letter from the winner, winner’s registered mail, winning claim stub, photocopy of winner’s VISA credit card and valid identification (Passport, Driver’s License or SSS I.D. of both the winner and his/her representative). The winner’s representative must also present original copies of the same Merchant Offers Resource Center Content Downloaded On: November 26, 2019 01:39 3 required valid forms of identification and a copy of the winner’s TIN. iv. Prizes can be claimed at the respective Admin Office of the participating mall where purchase was made, between 4:00PM to 7:00PM only, Mondays to Saturdays. v. Winner will shoulder the 20% Prize Tax for prizes exceeding PHP 10,000.00 vi. The prize is transferable but not convertible to cash or any other item. Prize may be transferred to the winner’s nominated recipient who is able to satisfy the requirements for the claiming of prize. vii. All participating malls and VISA reserve the right to disclose and publish name, photos and other information of the winner in any mode or manner, as relevant to the Promotion, in any mode or manner as they may deem appropriate. viii. SM Supermalls and Visa reserve the right to disclose and publish name, photos and other information of the winner in any mode or manner, as relevant to the Promotion, in any mode or manner as they may deem appropriate. ix. Employees, Management and Board of Directors of Shopping Center Management Corp. and VISA and its accredited advertising agencies and their relatives up to 2nd degree of consanguinity or affinity are disqualified from participating in the promotion. x. The promo organizer’s decision with regards to the Promo Mechanics, winners and prizes, with the concurrence of DTI, is final. xi. By participating in the promotion and/or accecpting the prizes, the promotion cardholder agrees to hold Visa and SM free and harmless from any loss, injury, or damage caused by or arising from his/her participating in the promotion or caused by or arising from his/her acceptance in the promo. DTI Fair Trade Permit No. FTEB-20477, Series of 2019
READ MOREAs of Fri, April 25, 2025
| Buying | Selling | |
|---|---|---|
| USD | 56.25 | 56.75 |
| JPY | 0.388752 | 0.403776 |
| EUR | 63.163815 | 65.607824 |
| GBP | 73.988728 | 76.851588 |
| HKD | 7.223177 | 7.761414 |
As of Thu, April 24, 2025
| UITF | NAVPU |
|---|---|
| Cash Management Fund | 1.557366 |
| Money Market Fund | 1.310646 |
| PERA Money Market Fund | 1.023632 |
| Medium-Term Bond Fund | 2.470334 |
| Bond Fund | 2.024273 |
| PERA Bond Fund | 1.198883 |
| Balanced Fund | 2.585336 |
| Growth Fund | 2.562157 |
| Alpha Equity Fund | 2.96484 |
| Blue Chip Equity Fund | 0.954534 |
| Equity Fund | 0.773163 |
| High Dividend Equity Fund | 1.002938 |
| US$ Money Market Fund | 1.431822 |
| Global $ Fund | 1.518293 |
| Money Market Plus Fund | 1.223015 |
