Inflation pumalo sa 3.4% nu'ng Pebrero — PSA

ni Angela Fernando - Trainee @News | March 5, 2024

Pumalo ang inflation sa 3.4% sa bansa at lumobo ang presyo ng pagkain, transportasyon, at mga utilidad nu'ng Pebrero, ayon sa Philippine Statistics Authority (PSA) nitong Martes.

Sa isang press briefing, sinabi ni National Statistician at PSA chief Claire Dennis Mapa na ang inflation — na sumusukat sa rate ng pagtaas ng presyo ng mga kalakal at serbisyo — ay bumilis sa 3.4% nu'ng Pebrero 2024, mas mabilis kumpara sa 2.8% na rate nu'ng Enero.

Magugunitang apat na buwang sunod-sunod ang naging pagbagal ng inflation magmula nu'ng Oktubre ng nakaraang taon hanggang Enero 2024.

Ang inflation rate sa kasalukuyan ay umabot sa 3.1%, na pasok sa 2% hanggang 4% na ceiling ng pamahalaan.

Nasa loob din ng forecast range ng Bangko Sentral ng Pilipinas na 2.8% hanggang 3.6% ang inflation rate nu'ng Pebrero.

SSS net income in 2023 soars to P83 billion

by Info @Brand Zone | February 23, 2023

The Social Security System (SSS) announced its net income in 2023 exceeded by 62.8 percent its target of P51.06 billion to P83.13 billion as it recorded higher revenues than its expenses.

Based on its 2023 unaudited financial statement, SSS’ net income of P83.13 billion in 2023 surpassed the P52.60 billion net income recorded in the previous year.

SSS President and Chief Executive Officer Rolando Ledesma Macasaet noted that the P83.13 billion profit last year was the highest net income attained by SSS.

“Our revenue in 2023 grew by 15.6 percent to P353.82 billion from P306.16 billion in the previous year,” Macasaet said.

He said that the bulk of SSS revenue in 2023 came from contribution collection, which rose by 18.2 percent to P309.12 billion from the P261.44 billion collected in 2022.

“Our record-high net income last year shows that we continue to strengthen our finances through programs and policies that increase new paying members and strengthen collection efforts,” he added.

Macasaet said that SSS recorded lower-than-revenue expenses of P270.69 billion, wherein the lion’s share of the total expenditure in 2023 went to benefit payments to members and pensioners.

“Our 2023 expenses reflect how SSS has prudently kept its expenses at modest levels and ensure that every peso contributed by its members are well spent for the benefit of all its stakeholders,” Macasaet said.

He said benefit payments last year stood at P259.03 billion, up by 6.7 percent from P242.81 billion in 2022, while our operating expenses were at P11.65 billion, 8.4 percent higher than the P10.75 billion a year ago.

“Our operating expenses last year were only 30.32 percent of the allowed charter limit of P38.4 billion. Based on our charter, the operating expenses are 12 percent of the contribution collections and 3 percent of other SSS income such as investments and loans,” Macasaet explained.

Macasaet attributed the outstanding financial performance of SSS last year to the efforts of the SSS management and employees in intensifying its collection activities such as registering new paying members, improved collection from delinquent employers, and the 2023 contribution rate hike.

“We implemented new initiatives in 2023 that resulted to an expansion of SSS membership and reaching more workers,” SSS Executive Vice President for Branch Operations Sector Voltaire P. Agas said.

Agas also explained that it recorded a high collection of delinquencies from employers who are not remitting their employees’ contributions due to the Run After Contribution Evaders (RACE) campaign.

Fueling the future: SM Prime unveils groundbreaking waste-to-fuel partnership

by Info @Brand Zone | February 8, 2024

SM Prime has entered a joint venture with GUUN Co. Ltd (GUUN), with SM Prime holding 70% of the equity of the Philippine joint venture company.

SM Prime Chairman of the Executive Committee Hans Sy and GUUN CEO Shinji Fujieda shake hands during the signing of a memorandum of understanding to explore waste management solutions, recycling waste paper and plastics into “fluff fuel” for alternative energy.

GUUN Co. Ltd is headquartered in Yokohama City, Japan, and operates material recovery and recycling facilities, along with environmental solution services. Invited by the government of Cebu in 2014, GUUN initiated the production of fossil alternative fuels called “fluff fuel” from non-recyclable waste materials, aligning with its mission to “maintain harmony between the earth and society by creating a happy environment for the future.”

United in this mission, SM Prime partnered with GUUN to actively participate in developing infrastructure for systematic waste management and resource recovery, following the best practices of Japan. The joint venture aims to reduce the landfill impact from both SM Prime and non-SM Prime managed properties, complementing the material recovery facility operations of the Local Government Units (LGUs).

GUUN Philippine Branch Senior Managing Director and General Manager Takeshi Konishi (second from right) shares best practices in Japan for sustainable alternatives to solid fossil fuels.

GUUN’s “fluff fuel” is produced from non-recyclable and hard-to-recycle wastes through sorting, curating, and formulation to meet chemical limits. It serves as an alternative to solid fossil fuels like coal, fueling cement kilns and industrial boilers in paper manufacturing and power plants. This approach has proven effective in controlling landfilled waste in Japan, offering a second life for waste as productive fuels and creating opportunities for waste pickers to become formal waste sorters in these facilities.

SM Prime joins forces with GUUN to develop infrastructure for waste management, aiming to minimize landfill impact across SM Prime and non-SM Prime properties.

“Fluff fuel” is one of the various solutions to control waste buildup in Japan. The partnership between SM Prime and GUUN will explore further implementation of recovery or reduction techniques, ensuring that waste is no longer wasted.

This collaboration delves into enhancing the implementation of recovery techniques, ensuring a more efficient utilization of waste resources.

SM Prime Holdings Chairman of the Executive Committee Hans Sy, emphasizing a commitment to a positive impact on local communities, shared, "It is exciting for SM Prime to partner with GUUN Japan with a joint mission to bridge the gap between society and the environment in the Philippines through investing in their pioneering solid waste management technology, which will eventually benefit all the communities that SM Prime serves.”

Underscoring their dedication to making a positive impact on the Philippines, GUUN Co. Ltd. CEO Shinji Fujieda stated, “At GUUN, we are ready to make every effort to contribute significantly to the Philippines and evolve the resource circulation system. The partnership with SM Prime leaves us with no doubt that we can succeed.”

Department of Environment and Natural Resources (DENR) Secretary Toni Yulo-Loyzaga emphasized the importance of such partnerships in advancing sustainable waste management practices. She said, "The DENR continues to collaborate with development partners and the private sector in tackling the challenge of solid waste management. Implementing industrial-scale, appropriate transition technologies for segregation and processing is a crucial step toward achieving a circular economy. Partnerships like the one between SM Prime and GUUN play a vital role in shaping a sustainable future.”