Integrated Bar of the Philippines (IBP) and Judicial and Bar Council (JBC)

The Integrated Bar of the Philippines (IBP) is the official organization of all Philippine lawyers whose names appear in the Roll of Attorneys of the Supreme Court. These are the attorneys whose names appear in the Rolls of Attorneys of the Supreme Court. They have qualified for and have passed the Philippine Bar Examination conducted annually, and have taken the attorney’s oath, unless otherwise disbarred.

Membership in the IBP is compulsory for all lawyers in the country. The Philippine Supreme Court has required all lawyers to indicate their Roll of Attorneys Number in all papers and pleadings filed in judicial and quasi-judicial bodies in addition to the previously required current Professional Tax Receipt (PTR) and IBP Official Receipt or Life Member Number.

PSE, IC, ORE

1. PSE is trying to acquire 23.8% stake of PDS while Landbank, a state-owned bank, want to acquire at least 66.67%. A Landbank official mentioned that the PER is just 8.10x based on 2016 PDS earnings. PDS recorded around 9.1% CAGR (compound annual growth rate) for last 3 years.

Notes: PSE offered stock right recently as DOF chief mentioned. Who will acquire it? Maybe PDS is a cash cow.

2. The Insurance Commission (IC) said this supplements the guidelines on the electronic commerce of insurance products issued by the regulator in 2014, one which provides the framework on the distribution of insurance products through the internet. Insurance companies may now use mobile applications in the distribution of their products. The IC said the mobile applications could either be pre-installed in a mobile device, an item in the subscriber identification module (SIM) menu of a mobile network carrier, or those downloadable via major digital platforms, such as Apple Store, Google Play and Microsoft Windows Marketplace.

Notes: Will it be an additional revenue generation tool for telco even small? 

3. Listed miner Oriental Peninsula Resources Group Inc. (ORE) is venturing into the power generation business, particularly eyeing investments in renewable energy. Also in 2009, It acquired 40 percent of Oriental Energy Power Corp., signed a service contract with the Department of Energy (DOE) to build an 18-megawatt (MW) hydropower plant in Timbahan River, Aklan.

Notes: There is a oversupply warning....why more and more companies want to join power generation? 

Bankers Association of the Philippines (BAP)

The Bankers Association of the Philippines (BAP) is the lead organization of universal and commercial banks in the Philippines consisting of forty-one (41) member banks; twenty-one (21) of which are local banks and twenty (20) are foreign bank branches.

Local Banks : AUB, BDO, BDO Private Bank, BOC, BPI, CHIB, CTBC Bank, DBP, EW, Landbank, Maybank, MBT, PBC, PNB, PTC, Veteransbank, RCB, Robinsons Bank, SECB, UBP, UCPB

Foreign Banks: ANZ, Bangkok Bank, Bank of America Merrill Lynch, Bank of China, Cathay United Bank, CitiBank, Deutsche Bank, First Commercial Bank, Hua Nan commercial bank, Industrial Bank of Korea, ING bank, JP Morgan Chase Bank, KEB hana bank, Mega International commercial bank, Mizuho bank, Shinhan bank, Standard Chartered Bank, Sumitomo Mitsui Bank, Bank of Tokyo-Mitsubushi UFJ, HSBC,

Established on March 29, 1949, the BAP was created to frame rules and regulations in cooperation with the Central Bank. The BAP was officially incorporated as a duly Securities and Exchange Commission (SEC)-registered corporate entity on August 24, 1964.

Basic Labor Code of the Philippines - Working Hours

Normal Hours of Work
Normal working hours in the Philippines should not be more than 8 hours a day.
Beyond the normal 8 hours in a single workday, the employee shall be entitled to overtime pay. However, the company may adopt flexible work arrangement such as compressed workweek that allows an employee to work up to 12 hours without overtime premium.

Flexible Work Arrangements Allowed

Flexible work arrangements refer to alternative arrangements or schedules other than traditional or standard work hours, workdays and workweek.

It is allowed but there are several conditions: 

Basic Labor Code of the Philippines - Night Shift Differential (NSD)

Night Shift Differential
For work performed from 10:00 p.m. to 6:00 a.m. the following day, the employee is entitled to a night shift differential pay of not less than 10% of his regular wage for each hour of work rendered.

  Hourly Rate for NSD

Normal Day	110%
Rest Day	143%
Special Holiday	143%
Regular Holiday	220%
Special Holiday + Rest Day	165%
Regular Holiday + Rest Day	286%

The rule on night shift differential applies to all employees, except: