BSP maintains interest rate at 6.25% on slowing inflation IN BRIEF

fare increases and minimum wage adjustments, persistent supply constraints of key food items, El Niño weather conditions and possible knock-on effects of higher toll rates on agricultural prices. Meanwhile, the impact of a weakerthan-expected global economic recovery remained the primary downside risk to the outlook.

“While the domestic growth momentum is expected to remain intact over the near term, recent demand indicators suggest a likely moderation in economic activity over the policy horizon, reflecting the impact of the BSP’s cumulative policy rate adjustments as well as weak global growth prospects,” Medalla said.

NOTICE OF ANNUAL STOCKHOLDERS’ MEETING

Please be informed that the Annual Meeting of the Stockholders of HARBOR STAR SHIPPING SERVICES, INC. (“HSSSI”) will be held and conducted virtually via the Zoom online meeting platform on Wednesday, 12 July 2023, 09:30 A.M. for the following purposes:

1. Call to Order

2. Certification of Notice and Quorum

3. Approval of the Minutes of the Annual Stockholders’ Meeting held on 13 July 2022

4. Management Report

5. Approval of Audited Consolidated Financial Statements of HSSSI and its subsidiaries as of 31 December 2022

6. Ratification of all acts, resolutions and proceedings of the Board of Directors and of Management, done in ordinary course of business since the 13 July 2022 Annual Stockholders’ Meeting up to 12 July 2023

7. Election of Directors

8. Appointment of External Auditor

9. Other Matters

10. Adjournment

The record date for stockholders entitled to notice of, participate and vote at the Annual Stockholders’ Meeting is set on 08 June 2023 (“Stockholders of Record”).

Considering the current circumstances, Stockholders of Record may only attend/participate via proxy, remote communication or vote in absentia, subject to validation procedures. Only validated stockholders will be provided access to the Zoom meeting platform and can cast their votes in absentia on or before 04 July 2023 via the Corporation’s secure online voting facility.

Stockholders who wish to participate in the meeting via the Zoom online meeting platform and to vote in absentia should notify the Office of the Corporate Secretary through a Letter of Intent to be sent via e-mail to asm-2023@harborstar.com. ph or fill up the registration form at www.harborstar.com.ph/ asm2023registrationform on or before 28 June 2023.

The Corporation is not soliciting for proxies. Stockholders who are unable to join the meeting but wish to vote on items in the agenda by proxy must submit their duly accomplished proxy forms via email to asm-2023@harborstar.com.ph on or before 28 June 2023.

Stockholders may send their queries and comments to the Management Report and other items in the Agenda to asm-2023@ harborstar.com.ph on or before 06 July 2023.

The Definitive Information Statement containing the attendance, voting and election procedures, along with the Notice, Agenda, Proxy, Management Report, SEC Form 17-A, SEC Form 17-Q and other information related to the Annual Stockholders’ Meeting can be accessed at www.harborstar.com.ph/investors/pse_disclosures.

Very truly yours, (SGD.)

BAP vows to work with BSP on new benchmark

THE 44-member Bankers Association of the Philippines on Thursday expressed support to the decision of monetary authorities to put up a new overnight reference rate to establish a credible yield curve.

“The Bankers Association of the Philippines shares the view of the Bangko Sentral ng Pilipinas that as a market, we desire to have a yield curve based on actively traded securities that result in high-volume transactions in the market,” BAP said in a statement.. It said that compared to other markets in the region, the Philippines still strives to have a deeper and more vibrant securities market.

“Presently, we have the 5-year, 7-year and 10-year securities actively traded in the market—with the 12-year, 15-year, and 20-year bonds receiving strong interests from market participants and investors,” it said.

NOTICE OF ANNUAL STOCKHOLDERS’ MEETING

Notice is hereby given that the Annual Meeting of the Stockholders’ of PHILTOWN PROPERTIES, INC. (“Philtown” or “Corporation”) will be conducted via videoconference on Wednesday, 26 July 2023 at 10:00 o’clock in the morning and information about said meeting can be requested by email at philtown.ssm@gmail. com with the following agenda:

1. Call to Order

2. Certification of Notice and Quorum

3. Approval of the Minutes of the Special Stockholders’ Meeting held on 14 January 2022

4. President’s Report for 2022 email at philtown.ssm@ gmail.com of your intention to attend the meeting for us to send you the Definitive Information Statement, proxy form and Zoom link. All stockholders are requested to state their full name, address, contact number/s and email address. For purposes of verification, kindly attach in said email a scanned copy of a government issued ID with photograph and signature. For your convenience, kindly refer below for the guidelines with respect to attending the Annual Stockholders’ Meeting via videoconference:

BAP said these securities provide the banking industry sufficient support for pricing bank products such as loans, mortgages, investments, and marking-to-market of banks’ own portfolios.

“We are fortunate that the Philippine market is supported by a globally recognized benchmark methodology that is utilized in over 100 jurisdictions. The Philippine BVAL benchmarks, currently administered by the BAP as an SEClicensed administrator, remain credible as it even addresses scenarios of limited market activity,” it said.

1. The Zoom telecommunications platform shall be utilized to conduct the Annual Stockholders’ Meeting.

2. All stockholders who are attending the meeting are advised to enter the Zoom conference at least thirty (30) minutes before the scheduled start of the meeting for the proper registration of the attendees.

3. All stockholders who intend to attend the Annual Stockholders’ Meeting are requested to send through e-mail to philtown.ssm@gmail.com their respective email addresses wherein the Zoom link shall be sent on or before 20 July 2023. Copies of the scanned valid IDs of the stockholders must likewise be sent for purposes of verification. Failure to send your email address shall be deemed a waiver of the right to receive the Zoom link for the Annual Stockholders’ Meeting.

4. All stockholders who will not, are unable, or do not expect to attend the meeting are advised to request for a proxy form through e-mail to philtown. ssm@gmail.com or download the proxy form at the Corporation’s website, philtownpropertiesinc.com. All proxies should be received and validated by the Corporation on or before 19 July 2023. Copies of your scanned valid IDs must likewise be sent for purposes of verification.

5. Verifiable soft copies of the Definitive Information Statement, 2022 Audited Financial Statements and proxy form may be secured from the Corporation’s website, philtownpropertiesinc.com or by request through e-mail at philtown. ssm@gmail.com. Please confirm your availability. Thank you.

BVAL refers to Bloomberg’s evaluated pricing service, which is based on market quotes and traded prices. Julito G. Rada

Oro

Ayala opens cold storage facility in Cagayan de

GMAC Logitech Refrigeration Corp., a joint venture between AC Logistics and Glacier Megafridge Inc., on Thursday opened a new cold chain storage facility in Barangay Tablon, Cagayan De Oro City.

GMAC said in a statement the facility could store up to 5,348 industrial pallets, service the increasing cold storage demand of various industries in Northern Mindanao and help ensure food preservation for the community.

“AC Logistics aims to use technology-driven supply chain solutions in addressing the country’s most pressing problems. We are sincerely proud to be partnering with Glacier Megafridge in helping our stakeholders ensure food security and preservation in Cagayan de Oro,” said AC Logistics president and chief executive Rene Almendras. Almendras said the opening of the facility is just the start of the group’s plan to aggressively expand its cold chain solutions across key areas in the Philippines.

AC Logistics, a wholly-owned subsidiary of Ayala Corp., serves as Ayala Group’s portfolio company for logistics solutions services. Jenniffer B. Austria

Metrobank top choice for trade finance in

PH METROPOLITAN Bank & Trust Co. is the top choice for Trade Finance in the Philippines, according to a survey by financial publication Asiamoney where the bank earned the Best Service Award.

Metrobank, the country’s second-largest private bank, ranked first in the Philippines under the Best Services (Asian Banks) category and third under the Best Services category—cementing the bank’s position as a leader in the industry.

The 2023 Euromoney-Asiamoney Trade Finance Survey identifies the leading providers of trade finance products and services in Asia, based on over 12,000 responses from clients across the world.

Clients were asked about the quality of service they received from providers, and those who were given top assessments under several categories were named in the Best Service award.

“We have a strong commitment to support our clients’ trade business. We always aim to deliver best-in-class trade finance products and services that are most suited for their business. After all, our promise has always been to keep them in good hands,” said Metrobank executive vice president and head of institutional banking sector Mary Mylene Caparas.

“We are grateful to be named as the country’s Best Service Trade Finance provider. This attests to our dedication in helping our clients grow their business,” she said.

DOE releases circular on offshore wind permitting

THE Department of Energy said Thursday it issued a new circular that will eliminate unnecessary delays in every stage of the offshore wind project development, specifically streamlining the permitting process of different agencies.

DOE Department Circular No. DC2023-060020 signed by Energy Secretary Raphael Lotilla on June 16 provides the policy and administrative framework for the efficient and optimal development of offshore wind resources to all permitting agencies.

The circular aims to remove any duplications and overlapping permitting within and among the attached agencies of the permitting agencies, remove duplications and redundant documentary requirements, reduce signatories and review and rationalize fees for OSW.

It said the new policy and administrative framework defines the agency’s earlier implementing guidelines with respect to the issuance of permits and licenses for OSW projects by permitting agencies. The framework mandates all permitting agencies to submit a complete list of appropriate permits and clearances, including all requirements, fees and a detailed process flow diagram.

This was issued after a series of public consultations and stakeholders’ engagements pursuant to Section 2 of Executive Order No. 21 issued by President Ferdinand Marcos Jr. on April 19, 2023. Alena Mae S. Flores