Pag-IBIG Fund recognizes top employers, developers in Mindanao.
The Home Development Mutual Fund (Pag-IBIG Fund) recognized the best performing developers and employers as it held the Mindanao leg of its stakeholders' accomplishment report (StAR) in Cagayan de Oro City on April 26.
The Pag-IBIG StAR stems from the Pag-IBIG Fund chairman's report held in Pasay City in January. The Pag-IBIG StAR distinguishes organizations and individuals who contributed to the agency's stellar performance last year.
'Pag-IBIG achieved another banner year in 2018 as our net income, loan releases and payment collections broke previous records. We could not have done it all without the unrelenting support from our partner employers and developers. We conduct the StAR to recognize their efforts to help the fund. We want to maintain the good business relationship with all our stakeholders, as we work to heed the call of President Duterte to provide working Filipinos with social benefits they deserve,' said Secretary Eduardo D. del Rosario, chairman of the Housing and Urban Development Coordinating Council and Pag-IBIG Fund board of trustees.
In the event executives of Pag-IBIG Fund also reported the fund's accomplishments in 2018 and provided updates to stakeholders in attendance.
'We hold the Pag-IBIG StAR to recognize the efforts of our stakeholders, but we also want to [tell] them what we have accomplished in the past year as we continue to be transparent in our operations. Last year we broke records by earning P33.17 billion in net income, releasing P75.31 billion in home loans and disbursing P49.23 billion in short-term loans. Loan-payment collections were also at its highest at P 55.73 billion for housing loans and P 53.21 billion for short-term loans, and our stakeholders all played significant roles in achieving such feats,' said Acmad Rizaldy P. Moti, chief executive officer of Pag-IBIG Fund.
In Mindanao Pag-IBIG recognized 8990 Housing Development Corp., VCDU Realty Corp., Agan Land Corp., Bria Homes Inc., Liberty Land Corp., Malate Construction and Development Corp., McGregor Development Corp., Primeland Properties Inc., Prestige Homes and Realty Development Corp., and Pueblo de Oro Development Corp. as top developers based on the amount of home loans released.
Special citations were given to Pueblo de Oro Development Corp. for Best in Conversion, VCDU Realty and Development Corp. for Best in Performing Loans Ratio, and the Prestige Homes and Realty Development Corp. for Best in Performing Accounts Ratio, while SP Madrid and Associates, GCCS and Associates, and Molaer Law Office were named as top collection agencies for 2018.
The Pag-IBIG Fund also cited the main campus of the Mindanao State University, the provincial government of Bukidnon, and the Philippine Army as Top Employers in the Government Sector, while Tagum Agricultural Development Co. Inc., DOLE Philippines Inc., and General Services Cooperative were named Top Employers in the Private Sector.
The Pag-IBIG StAR debuted on April 3 in the National Capital Region, with its second leg held on April 10 in Muntinlupa City for South Luzon. Within the next few weeks, the fund will hold the same event in Cebu City for stakeholders in Visayas and in Pampanga for stakeholders in North Luzon.
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|Publication:||Business Mirror (Makati City, Philippines)|
|Date:||May 9, 2019|
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