PIPC was a Ponzi scheme, says Ferrier Hodgson
October 30, 2008
In the September 2008 update made to investors of scam investment program Performance Investment Products Corporation (PIPC), fraud investigation firm Ferrier Hodgson disclosed that the results of preliminary analysis support its belief that PIPC operated as a Ponzi scheme.
A Ponzi scheme is a fraudulent investment operation that involves promising or paying abnormally high returns to investors out of the money paid in by subsequent investors, rather than from revenues generated by a real business.
PIPC was a multimillion-dollar scam investment program that was exposed in 2007 after the owner of the company, Singaporean Michael H.K. Liew, fled the Philippines and disappeared, supposedly taking with him between US$140 million and US$250 million of investors’ funds.
BPI Express Phone: All circuits are busy now
October 29, 2008
Early this morning, I got locked out of my Bank of the Philippine Islands (BPI) Trading account after I incorrectly entered my password three times. Apparently, I had forgotten that I changed my password a few days ago.
Around 10 in the morning, I called BPI’s Customer Phone Support at 89-100 or 891-0000 to help me reset my password. What greeted me was the pre-recorded message, “Sorry, all circuits are busy now. Please try again later.”
Ok, fine, I’ll try again in 10 minutes.
How blogging provides passive income
October 28, 2008
Blogging is now a certified way to make money online. Many bloggers around the world have relied — and are still relying on blogging — to provide them with a regular stream of income, which they use to buy a car, house, laptop, or LCD TV.
For the lucky few, blogging has become a source of passive income. Passive, because they don’t have to write articles or update their blog every single day and yet they continue to earn money.
Take, for example, this PinoyMoneyTalk.com blog.
Google Adsense + Analytics = Higher earnings
October 25, 2008
If you’re a Google Adsense publisher, one of the common problems you probably have is the lack of detailed information to tell you which specific content is delivering you income and from which countries the ad clicks are coming from.
Now, those problems will be addressed by the new feature Adsense is offering. Google’s online money-making program, Adsense, is currently integrating with Google’s own web analytics tool, Analytics, to give users access to detailed information about the performance of Adsense ads.
Can the integration of Adsense and Analytics ultimately bring more earnings?
Higher PDIC coverage: Good or bad?
October 23, 2008
The issue of increased deposit coverage by the Philippine Deposit Insurance Corporation (PDIC) is probably a no-brainer to most people. If it can be made to guarantee a higher deposit amount to protect depositors from any bank failures, why still argue about it, right?
Apparently, there is more to just increasing the amount of insured deposits, and that’s what PMT members are talking about in the discussion thread Proposed increase in PDIC coverage.
(October 2008) CPA Board Exam results
October 21, 2008
Congratulations to the 2,442 out of 6,663 examinees who passed the Certified Public Accountant (CPA) Licensure Examination administered by the Professional Regulation Commission (PRC) on October 2008!
Check below to view the complete list of passers.
How to check fake or illegal recruitment agencies
October 19, 2008
Do you know how many OFWs (Overseas Filipino Workers) are there around the world? According to the Population Reference Bureau, around 11% of the Philippine population or roughly 11 million Filipinos are working as OFWs. This number keeps on increasing as more and more Filipinos seek greener pastures outside of the country.
But there are several Filipinos who apply for work abroad who also end up as victims of fake recruitment agencies. Everyday, hundreds — probably even thousands — are duped by false promises of overseas employment.
How can you check if an agency offering a job abroad is legal or licensed by the Philippine Overseas Employment Agency (POEA)?
Top 40 Richest Filipinos in 2008
October 17, 2008
Jaime Zobel de Ayala and his family are not anymore the richest people in the Philippines. That’s according to the recent list of “The Philippines’ 40 Richest” published annually by business magazine Forbes. (See the 2007 list of richest filipinos here.)
Shopping mall and real estate mogul Henry Sy and his family are now on top of the list, with US$3.1 billion net worth. Tycoon Lucio Tan and family are next, with net worth amounting to US$1.5 billion. Last year’s richest person, Jaime Zobel de Ayala, is this year’s biggest loser, with total net worth down by US$800 million after his Ayala Corporation’s stock price plummeted 46%.
Best, funny jokes about the financial crisis
October 15, 2008
The best way to deal with problems, they say, is to laugh at them.
So while big global banks are collapsing and stock markets are losing 30-40% of their value, it might be time right now to sit back for a while and forget about losses in stocks and mutual funds. Here are a few jokes to help you laugh at all the financial mess happening in markets worldwide.
Low-risk investment: Manila Water’s 8.25% fixed rate bonds
October 13, 2008
If you missed the Retail Treasury Bond offering of the Philippine government back in July this year which offered 8.5% and 9.0% interest per annum, you currently have a chance to earn a similar amount of return at the same low level of risk through Manila Water’s 8.25% fixed rate bonds.
The Php 3 billion corporate bond issue pays a fixed coupon rate of 8.25% per annum. The interest are paid quarterly or every 3 months. The bonds mature in October 2013 but investors can redeem their investments by as early as October 2011.
