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SGV Financial Services Organization (FSO) Assurance Partner Glenda C. Anisco-Niño was a resource speaker at the joint webinar with EY Singapore and EY Malaysia entitled “Ignite your sustainability journey with the new ISSB standards” on 15 September 2023. A total of 456 financial institution representatives and regulators, with more than 300 participants from the Philippines, attended the webinar. Glenda presents her topic Glenda discussed the key features of International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2 Climate-related Disclosures. Glenda with the other EY speakers during the Q&A session Other speakers provided an overview of the International Sustainability Standards Board (ISSB) and its purpose and discussed other related topics such as impact on your companies’ sustainability disclosures, current state and next steps, and A deeper dive: Singapore. 

Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a panelist in the 2023 Temenos Cloud Forum for Philippine banking professionals. Anurag talked about banking transformation and explained that the cloud could help banks efficiently scale their operations and design more engaging customer experiences. Anurag (right) at the 2023 Temenos Cloud Forum for Philippine banking professionals “One of the most important shifts that is happening is on the customer side. Banking is going to transition while customers are demanding ‘hyper-personalization’ – and that requires new technologies. Today is the best time to shift from a technology perspective because the number of options to deliver on customer experience is huge and the cloud can solve specific problems,” Anurag said. Representatives from leading banks in the country also exchanged insights on key banking innovation trends, lifecycle banking, small and medium enterprise (SME) digital banking, and cloud banking.

Financial Services Organization (FSO) Technology Consulting Principal Anurag Mishra was a panelist in the inaugural Citi Philippines Securities Services forum organized by Citi Securities Services Philippines. Anurag was joined by Citi Philippines CEO Paul Favila and Citi Philippines Securities Services Head Tiffin Tanseco.  Forum photos courtesy of Citi Securities Services Philippines Key asset managers and asset owners attended the forum, which also featured other speakers from The Philippine Stock Exchange, Inc. (PSE), the Philippine Securities and Exchange Commission (SEC), Sun Life, and Citi subject matter experts. They covered topics on macroeconomics, intelligent operations, blockchain, digital assets, innovation, and environmental, social, and governance (ESG).

To celebrate the achievements of the Global Compliance and Reporting (GCR) team and its members, the GCR team held a thanksgiving event with the theme “Proud2bGCR” at the Paco Arena Events and Sports Center. All GCR clusters participated in the face-to-face event including staff from the Clark, Cebu, and Davao offices. SGV Chairman and Country Managing Partner Wilson P. Tan with the SGV GCR team The event commenced with a thanksgiving mass and was followed by a welcome message from SGV GCR Leader Sonia D. Segovia, expressing her gratitude to the GCR team members for their dedication and successful undertakings in the past fiscal year (FY 2023).  GCR Partners with Fr. Marc Will Lim, SDB SGV Chairman and Country Managing Partner Wilson P. Tan graced the event and highlighted the GCR team’s impact on the Firm’s success throughout the years. Tax Leader Atty. Fabian K. Delos Santos shared how proud he was at how much the GCR team had grown over the years. ASEAN Tax Leader Amarjeet Singh and ASEAN GCR Leader Julian Wong also virtually delivered their messages of gratitude. SGV GCR Partners GCR team members participated in activities and games and showcased their talents during the TikTok and runway competitions. The event culminated with socials and a get-together among clusters. 

SGV Partners represented the Firm in a Philippine trade mission to South Korea from 15 to 20 August 2023. The trade mission aimed to help secure business leads among Korean companies to invest in the Philippines, further strengthen the participants’ network, and lay the groundwork for future business missions. The Philippine delegation’s group photo at the Global Knowledge Exchange & Development Center Tax Leader Fabian “Fame” K. Delos Santos, Korean Business Network and Business Services Group Leader Alvin Pinpin, SGV Clark Partner-in-Charge Margaux Advincula, and Indirect Tax and Global Trade Principal Victor De Dios joined the trade mission organized by the Philippines-Korea Economic Council (PHILKOREC) led by its Chairman, Mr. Robert Yupangco.  Margaux, Alvin, Fame, and Vic with PHILKOREC Chairman Robert Yupangco (center) SGV team expresses support and cooperation with the Commercial Counselor of PTIC in the Philippine Embassy to Korea Jose Ma. “Jojie” Dinsay, Mr. Robert Yupangco, and representatives from Korean business groups The Partners joined a courtesy call on Her Excellency Amb. Maria Theresa Dizon-De Vega and officers of the Philippine Trade & Investment Center (PTIC) in Seoul. They also participated in business-to-business meetings between the entire Philippine delegation and representatives of Korean companies aiming to develop trade partnerships. EY Korea and SGV team with Amb. Dizon-De Vega On a separate occasion, the Partners were joined by EY Korea Senior Advisor and Korean Business Network Global Leader Chong Yun Park and EY Korea Business Tax Services Leader Seung Yeop Woo in a meeting with Amb. Dizon-De Vega, where they talked about growth prospects in trade between Korea and the Philippines.

In line with SGV’s Sustainable Actions for Value-Creation and Enablement (SAVE) Council’s sustainability initiatives and as part of the observance of Earth Week, SGV donated 465.13 kg of preloved clothes to Wear Forward, a local circular-fashion startup. SGVeans from around the country participated in the SAVE Council’s used clothing collection drive, where all nine SGV offices were used as donation sites for preloved items of clothing. Some of the pre-loved clothing donations in SGV offices across the country The SGV SAVE Council expressed its appreciation to everyone who participated in the used clothing collection drive. The Council plans to hold more clothing collection efforts and other opportunities to practice sustainability. Preloved clothing donations packed for shipment to Wear Forward’s warehouse The preloved clothes were sent to Wear Forward’s facility in Bulacan for proper sorting and processing. Wear Forward seeks innovative solutions to the textile waste problem, including clothing recycling and reuse. These initiatives prevent usable clothing from ending up in landfills and further contributing to environmental degradation.

SGV Clark Partner-in-Charge Margaux A. Advincula, together with Business Tax Advisory (BTA) Senior Associates Atty. Ma. Jeanne Therese G. Marasigan and Atty. Fatima Kate N. Garo, joined the 32nd North Luzon Area Business Conference (NLAB) Conference held at the Thunderbird Resort in Poro Point, San Fernando City, La Union. Atty. Margaux (third from right) with Subic Bay Freeport Chamber of Commerce (SBFCC) President Benjamin Antonio III, SBFCC Executive Director Donna May Tamayo, and SGV Business Tax Advisory (BTA) Senior Associates Atty. Ma. Jeanne Therese Marasigan and Atty. Fatima Kate Garo, among others, at the 32nd NLAB Conference Key government officials and prominent business leaders led discussions concerning key issues impacting business and the economy, with a particular focus on investments, tourism, innovation, productivity, and food security in North Luzon. The conference also provided a platform for networking among delegates, allowing them to interact with businessmen from different parts of the country, explore innovative business opportunities, and establish potential partnerships. The two-day event highlighted programs and opportunities for micro, small, and medium enterprises (MSMEs) and their importance in local economic growth. It brought together key officials from member Chambers and business partners located in North Luzon, successfully showcasing the investment potential of the region as an emerging hub for businesses and economic development. The 32nd NLAB Conference was organized by the Philippine Chamber of Commerce and Industry (PCCI) and hosted by the Chamber of Commerce and Industry of La Union (CCILU). 

The SGV Financial Services Organization (FSO) Banking and Capital Markets (BCM) team hosted its annual Banking Industry Briefing on 31 August 2023. Topics such as Sustainability and Climate Risks, Digital Transformation, Innovation and Cyber Security, and a case study on Digital Innovation were discussed. More than 300 participants attended the event. (From left to right) FSO Leader Christian Lauron, BCM Leader Janeth Nuñez-Javier, FSO Assurance Leader Irene Janet Alvarado-Paraiso, Chairman and Managing Partner Wilson Tan, Maya Bank President Angelo Madrid, BSP Financial Supervision Sector Senior Director Melchor Plabasan, BSP Assistant Governor Lyn Javier, Deputy BCM Leader Veronica Arce Balisi, and Markets Leader Vicky Salas at the Banking Industry Briefing FSO Leader Christian Lauron welcomed the participants and delivered the opening remarks. SGV Markets Leader Vicky Salas served as the moderator during the Q&A session with external speakers: Bangko Sentral ng Pilipinas (BSP) Assistant Governor Lyn Javier, BSP Financial Supervision Sector Senior Director Melchor Plabasan, and Maya Bank President Angelo Madrid. Banking Industry Briefing participants FSO Forensics and Cybersecurity Partners discussed different solutions relevant to banking clients and relevant regulatory updates and their impact on the audit of banks. FSO Partner and Wealth & Asset Management (WAM) Leader Ray Francis Balagtas delivered the closing remarks. SGV Chairman and Managing Partner Wilson Tan and FSO Assurance Leader Irene Janet Alvarado-Paraiso, among other Partners, were also present during the event. The FY24 Banking Industry Briefing was organized by FSO Partners and BCM Leader Janeth Nuñez-Javier and Deputy BCM Leader Veronica Arce Balisi together with FSO Senior Managers and BCM Lead Managers Geraldine Rose Ogerio and Glaiza Escaño.

SGV Leaders and Partners paid a courtesy call on newly appointed Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona, Jr. on 23 August 2023. BSP Governor Remolona’s term began on 3 July. SGV Leaders and Partners with newly appointed BSP Governor Eli Remolona, Jr. (center) The SGV team was led by Chairman and Country Managing Partner Wilson P. Tan. He was joined by SGV Financial Services Organization (FSO) Leader Christian G. Lauron, FSO Assurance Leader Irene Janet S. Alvarado-Paraiso, and FSO Banking and Capital Markets Sector Leader Janeth T. Nuñez-Javier and SGV Partners Maria Margarita D. Mallari-Acaban, Veronica Arce Balisi, Joseph Ian M. Canlas, and Charisse Rossielin Y. Cruz.  BSP Senior Assistant Governor Johnny Noe E. Ravalo, BSP Assistant Governor Lyn Javier, and BSP Governor’s Chief of Staff Pia Roman-Tayag were also present during the courtesy call.

SGV held its Withholding Tax series as part of the Tax Basics Seminar (TaxBaSe) series, which cover basic and updated tax rules and regulations along with illustrations and practical applications. Participants during the Q&A sessions in SGV Makati (left) and Clark (right) SGV Global Compliance and Reporting (GCR) Partners Josenilo “Nilo” G. Mendoza and Lee Celso R. Vivas were resource speakers in the seminar series held at the SGV Makati and Clark offices, respectively. There were 92 participants in Makati and 36 in Clark. (From left to right) Nilo, Lee, Leo and MeynardSGV GCR Partner Hentje Leo L. Leaño opened the sessions in both the Makati and Clark offices. SGV GCR Partner Francis “Kiko” J. Ricamora was also present during the Clark leg and joined the Q&A session. GCR Senior Director Meynard L. Sardalla and GCR Associate Director David Jonathan F. Manalili hosted the sessions in SGV Makati and Clark, respectively. (From left to right) David, Nilo, Lee, Kiko, and LeoThe Withholding Tax Series is a three-part series that includes General Concepts on Withholding, Expanded Withholding Tax (EWT), and Withholding Tax on Wages (WTW) and Fringe Benefits Tax (FBT). It aims to provide the participants with an updated and in-depth understanding of the general concepts of withholding taxes, and guidance on the computation, filing, payment, and other requirements relating to Final Withholding Tax (FWT) and Withholding Value-Added Tax (WVAT).