|
|
| |
| News |
|
KsK SMP Cooperative: Regular Saving and Investing Program
In partnership with Firstmetro Asset Management Inc., KsK Coop will provide facility and access for “sachet investment” to the Philippine Capital Market, specifically FAMI’s equity mutual fund – First Metro Save and Learn Equity Fund, Inc. (SALEF). This is under KsK Coop’s RSIP – Regular Saving & Investing Program.
Save and Invest in FAMI’s Save and Learn Equity Fund for the affordable amount of Php300, Php500 or Php1000 minimum placement per month.
As a special privilege—FAMI does NOT charge a SALES FEE for RSIP Placements!
Its easy to participate in RSIP, just follow these four steps.
STEP 1: Are you a KsK Coop Member?
Only KsK SMP Members will be able to participate in RSIP.
STEP 2: Register
Notify KsK Personnel that you would like to participate in the RSIP.
Contact KsK Manila via SMS or EMAIL
Inform the KsK Personnel that you would like to join the RSIP
- Name (as registered in KsK Coop) and Member ID Number
- Selected Minimum Monthly Placement — Php300 / Php500 / Php1000
- Acknowledge that you understand and agree to the responsibilities, terms and conditions of the RSIP.
- Every month I will make a minimum monthly placement (single transaction) of Php300 / Php500 / Php1000 for the duration of the program.
- Commitment Period
- RSIP300, commitment period of 36 months (3 years)
- RSIP500, commitment period of 24 months (2 years)
- RSIP1000, commitment period of 12 months (1 year)
- If you redeem in full or partial before completing the initial commitment period specified, 5% will be deducted from your total redemption as penalty. A processing fee of Php10.00 shall also be charged.
- If you redeem in full or in partial after the commitment period only a processing fee of Php10.00 will be charged.
STEP 3A: Remit your 1st Monthly Placement
Right now the only way to remit your Monthly Placement is via bank deposit to any of the following KsK Coop Depository Bank Accounts:
Bank of the Philippine Islands (BPI)
Branch: Ortigas
Account Type: Savings
Account Number: 00203-2509-59
Banco de Oro (BDO)
Branch: Head Office-Ortigas
Account Type: Savings
Account Number: 660947080
Metropolitan Bank & Trust Company (Metrobank)
Branch: Ortigas
Account Type: Savings
Account Number: 03538727-8
RCBC Savings Bank
Branch: Pacific Place
Account Type: Savings
Account Number: 100105393-8
Philippine National Bank (PNB)
Branch: Ortigas
Account Type: Savings
Account Number: 388905900028
Development Bank of the Philippines (DBP)
Branch: Makati
Account Type: Savings
Account Number: 5-88680-405-1
Please be sure to send us the deposit slip (via fax or email a scanned copy). Don’t forget to include your name and the letters “RSIP” so that it can be credited accordingly.
You may also make your regular saving/investing “payments” in KsK Coop’s satellite office in HK at:
KSK Information Services Limited
Room 1701, 17th Floor, Yue Shing Commercial Building,
No. 15-17 Queen Victoria Street, Central , Hong Kong
Soon we will also be able to collect your placements through GCASH and SMART Money.
Breakdown of 1st Payment (and every anniversary of participation)
|
Participation Fee |
Processing Fee |
Total Monthly Placement |
RSIP300 |
Less Php 100.00 |
Less Php 10.00 |
Php 190.00 |
RSIP500 |
Php 390.00 |
RSIP1000 |
Php 890.00 |
STEP 3B: Remit your succeeding Monthly Placements
Remit your placements as instructed in STEP 3A.
Breakdown of succeeding monthly placements
Minimum per Month |
Processing Fee |
Total Mutual Fund Placement |
RSIP300 |
Less Php 10.00
|
Php 290.00 |
RSIP500 |
Php 490.00 |
RSIP1000 |
Php 990.00 |
All RSIP placements are remitted to FAMI SALEF every 2nd and 17th of the month (or the next banking day, should those dates fall on a weekend or a non-working or bank holiday).
OTHER IMPORTANT INFORMATION
Confirmation of RSIP Placements:
A confirmation will be sent via email every 6th and 21st of the month (or the next banking day) regarding your most recent placement and the NAV and fees applied and the number of shares purchased.
In the future, your RSIP participation record will also be available for online viewing at www.kskcoop.com
FAMI will issue a Certificate of Participation with details about your SALEF shares purchases every year.
Redemption Process
Communicate with KsK Coop Personnel that you would like to make a redemption, email or SMS the following information:
- Name (as registered in KsK Coop) and Member ID Number
- Redemption Details
- Full Redemption
- Or Partial Redemption, if partial, how many shares are to be redeemed.
- Identify Preferred Pay-out Channel
- Check
- Deposit to bank account
- Credit to GCASH/Smart Money account
- Purchase KsK Shares
- For KsK Special Projects
- Others
Requests for redemption will be confirmed immediately via email or SMS. Redemption will be processed with FAMI the next working day. Payout shall be released within 7 working days from submission to FAMI for processing.
Redemption Fees
If you redeem in full or partial before completing the initial commitment period specified, 5% will be deducted from your total redemption as penalty. A processing fee of Php10.00 shall also be charged.
If you redeem in full or in partial after the commitment period only a processing fee of Php10.00 will be charged.
Why is there a Yearly Participation Fee?
There is a significant cost to maintain detailed individual accounts. For placements of this small value, the cost of maintaining records is higher (and thus the profits for KsK Coop for this program also smaller if based on the participation fee alone.) The participation fee is collected every anniversary of the RSIP account regardless if still within the commitment period or after the commitment period.
Why is there a Processing Fee ?
Various methods will be employed to collect monthly placements all of which have an attached cost. If using collection partners, these will usually charge Php5-8 pesos per transaction. If using our own existing process for collections – i.e. bank deposit, it is also very costly as the KsK Personnel has to manually match each deposit to a person and purpose.
Other References:
| |
FAMI CORPORATE PROFILE:
First Metro Asset Management, Inc. (FAMI) is an investment company adviser licensed by the Philippine Securities and Exchange Commission to manage and distribute mutual funds. As of May, 2009, FAMI is the investment manager, administrator, and principal distributor of four mutual funds:
Save & Learn Equity Fund (SALEF)
Save & Learn Fixed Income Fund (SALFIF)
Save & Learn Balanced Fund (SALBF)
Save & Learn Money Market Fund (SALMF)
Assets under management totaled PhP 848.4 million as of year-end 2008. The equity fund has been consistently a superior performer among competing products since its inception.
The principal officers of the company are:
Francisco C. Sebastian – Chairman
Roberto Juanchito T. Dispo – Vice-Chairman
Eduardo A. Mendoza – President
Hector C. De Leon – Executive Vice President
Danilo G. Olondriz – Chief Finance Officer
Edwin B. Valeroso – Vice President
Marie Arabella D. Veron – Treasurer
FAMI is a stock corporation owned 70% by First Metro Investment Corp. (FMIC), 15% by the Catholic Education Association of the Philippines (CEAP), and 15% by the Marist (Marist Brothers) Development Foundation. FMIC is a subsidiary of Metrobank.
ALL ABOUT FAMI’S SAVE & LEARN EQUITY FUND (SALEF):
This is an actively managed portfolio of selected stocks with strong balance sheets and attractive valuations. Its goal is to provide growth through long-term capital appreciation. It is an ideal investment for investors seeking high growth with high risk.
Please see FAMI-SALEF’s prospectus.
WHAT IS A MUTUAL FUND?
Prepared by FAMI
A mutual fund is a company whose capital is invested by a professional fund manager in investment-grade instruments like stocks, bonds, and so on. If you invest in a mutual fund, you’re buying shares of that company, and your money is included in the pool of capital that is being invested by the fund manager. The price of buying (or selling back) your shares is based on the market value of the investments of the company at that time.
The job of a fund manager is to maximize the value of the fund while taking into account the risks involved. Your investment will go up (or down) in value, depending on how profitable those investments are which the fund manager is making on a day to day basis. Everyday, the value of your capital is computed based on how much money the fund manager made, or how much worth the investments are in the market at the end of the day.
Your investment in a mutual fund does not earn a fixed interest; instead you earn money when you sell back your shares at a price, or value, that is higher than when you bought those shares.
There are risks involved in investing in mutual funds. The value of your funds could temporarily be down from the time you purchased it, depending on capital market situations, and depending on the kind of mutual fund it is. A bond fund (invested in the bond market) does not fluctuate in value as quickly and as dramatically as an equity fund (invested in the stock market). On the other hand, a bond fund does not increase in value as fast as an equity fund.
You may withdraw your investment, or sell back your shares, in a mutual fund anytime you wish or need the funds. You may, however, end up losing money when you sell at a time when the values are declining. In the long run, say, more than two to three years, the value of a mutual fund improves at a rate much higher than if you were investing in specific individual savings or investment instruments yourself.
WHAT IS A MUTUAL FUND?
(sourced from Investment Companies Association of the Phils.)
A Mutual Fund is an investment company that pools the funds of many individual and institutional investors to form a massive asset base. The assets are then entrusted to a full time professional fund manager who develops and maintains a diversified portfolio of security investments. People who buy shares of a mutual fund are its owners or shareholders. Their purchases provide the money for a mutual fund to buy securities such as stocks and bonds. A mutual can make money from its securities investments in two ways: a security can pay dividends and interest to the fund, or a security can rise in value. The fund passes any dividends, interest or profits on the sale of its portfolio securities, less fund expenses, to shareholders in the form of distributions.
Different Funds, Different Features
In the Philippines , there are currently four basic types of mutual funds---stock (also called equity), balanced, bond and money market funds. Bond funds invest primarily in bonds such as treasury notes issued by the Philippine government and commercial papers issued by reputable companies in the Philippines . Having a full basket of only fixed-income securities, bond funds provide capital preservation while maintaining a conservative stance in terms of asset allocation. Like bond funds, money market funds also have a conservative stance since they have a full basket of fixed income funds. The main difference lies in the term of investments of money market fund investments, which is one year or less. Equity funds invest primarily in shares of stock issued by Philippine corporations. The dominance of stock issues within the portfolio positions the fund to attain a more aggressive rate of growth. Balanced funds invest in both shares of stocks and bonds, thereby accessing the growth potential of stocks tempered with the presence of secure fixed-income instruments. Professional fund managers create value for shareholders by providing superior yields within controlled risk exposures. Certainly, expective in both security selection and asset allocation go a long way in ensuring better long-term rewards for mutual fund investors.
At present, there are a total of 22 mutual funds in the country. Six (6) of these are bond funds, five (5) are equity funds, while the remaining ten (10) are balanced funds while one is a money market fund.
WHY INVEST IN A MUTUAL FUND?
Interest rates can be volatile and passive short-term investing can erode investment values due to inflation. On the other hand, the stock market has historically outperformed both short and long-term bank deposit rates. Unfortunately, not so many people are familiar with active financial management and effective diversification. Through mutual funds, even investors with limited resources can participate in combinations of these high-yielding investment instruments without the headache of personally selecting and monitoring a portfolio.
Mutual funds are ideal vehicles for growing money over time. It can be used as a savings medium for retirement, education for a child, or building up a long-term cash fund for some specific future financial objective. While largely thought of as a retail financial product, mutual funds are also ideal instruments to augment the yields generated by organizational funds and enhance their level of diversification. Mutual funds have been popular investments for pension and trust programs, other employee benefit funding objectives, and institutional asset-liability matching.
FAMI-SALEF 5- YEAR PERFORMANCE
Date |
NAV/Share |
Performance |
| September 09, 2005 |
PhP1.00 |
|
| January 2, 2006 |
PhP1.0736 |
7.36% growth in less than 3 months |
| January 2, 2007 |
PhP1.7984 |
67.51% growth for year 2006 |
| January 2, 2008 |
PhP2.0207 |
12.36% growth for year 2007 |
| January 6, 2009 |
PhP1.4369 |
-28.9% decline for year 2008 |
| January 6, 2010 |
PhP2.1216 |
47.65% growth for year 2009 |
| April 27, 2010 |
PhP2.4251 |
14.31% growth in less than 4 months |
|
|
|
| Back to top» |
| |
ADDITIONAL COLLECTIONS GATEWAY FOR KSK COOP: GLOBE G-CASH and
SMART MONEY
For easier collections of KsK Member’s membership fees, contributions and the like, KsK Coop is negotiating to become merchants/billers in Globe G-Cash and Smart Money. This means that KsK Members (aspiring and actual) can facilitate payments to KsK by 1) accessing the Globe G-Cash or Smart Money menu on their Globe or Smart mobile phones or 2) make payments over the counter at Globe G-Cash remit partners or Smart Money centers in the Philippines and abroad.
Details on how to use your G-Cash and Smart Money accounts for KsK Payments will follow when the KsK’s application has been approved. Target operations is late April 2010. |
| Back to top» |
| |
KSK COOP ID+ C/O NATIONLINK
KsK Coop Management is proposing to replace KsK Coop IDs with an I.D. Plastic Card that is readable/useable in all ATM Machines in the Philippines.
Details are as follows:
- Each KsK Coop member will be given two Plastic IDs (ATM Powered). One for themselves and another for their nominated KsK Coop Beneficiary.
- Both Plastic IDs – for the KsK Coop Member and their nominated KsK Coop Beneficiary here in the Philippines are ATM Powered. It can be used in all ATMs in the Philippines; may it be Bancnet, Megalink, Expressnet and Nationlink.
- Cash Dividends and Cash Incentives will be credited to the KsK Coop ID account of the KsK Coop Member.
- KsK Coop Members have the “power” and the facility to make transfer from their KsK Coop ID Account to their KsK Coop Beneficiary Account thru text/sms using their Philipppine SIM Card-Globe, Smart or Sun.
- There will be a cost of PhP1,000.00 for old KsK Coop Members to have the two (2) IDs – one for the KsK Coop Member and one for their KsK Coop Beneficiary in the Philippines.
- ID Cards will be delivered to the addresses identified by the KsK Coop Member for the KsK Coop Member and their KsK Coop Beneficiary.
- Transaction charges for transfer are to be shared by Nationlink and KsK Coop as a whole.
- Testing/Pilot Run is schedule for the whole month of April after presentation in the General Assembly and approval of such.
|
| Back to top» |
| |
TESTING OF KSK COOP MEMBER PAGE COMPLETE
Check the financial status of your KsK Coop membership at www.kskcoop.com. Members log in using their ID Number and a temporary password. The assigned temporary passwords were sent to the nominated email address of each KsK Coop Member. If you did not receive your password, please send an email to kskcoop@colaycofoundation.com request for your temporary password.
Upon logging in, members will be able to access to the following:
- Change Your Password
- Update Your Membership Data
- View Your Financial Standing in KsK Coop
- View KsK Coop Scanned Documents (available by 1st Week of April 2010)
o Board Resolutions
o Minutes of Meetings
o Pertinent Documents on KsK Coop business ventures
|
| Back to top» |
| |
FACEBOOK PAGE OF KSK COOP
Add KsK Coop on Facebook and view the daily updates. As of March 12, 2010, KsK Coop has more than 60 friends.
|
| Back to top» |
| |
MORE DISCUSSION REQUIRED FOR THE KSK COOP BONDS
The proposed 10+2 years KsK Coop Bonds were met with unsatisfactory comments.The 10+2 years term was found to be a very long a period. The KsK Coop Management is currently coordinating with the Home Funding Inc. for a shorter tenor that can be offered as a KsK Coop Bond to its individual KsK Coop Members.
A bond is a lending investment that may not give growth like an ownership investment but will give regular and fixed income. In the proposed KsK Coop-HFI Bond Product; return is positioned to be at 6% per annum for a minimum participation of PhP50,000.00.
Pay-out is to be given MONTHLY! Pay-outs will include part of the principal already being given out plus its corresponding interest; at 6% a year.
Sample (estimate) computation:
KsK Coop Member places PhP100,000 to the KsK-HFI Bond.
PhP100,000 divided by 60 months (5 years) = PhP1,666.66
Plus 6% a year interest
6% times 5 years = 30%
PhP100,000 times 30% = PhP30,000 divided by 60 months – PhP500.00
After the first month that KsK Coop acquires the KsK Bond; the individual KsK Coop member will start getting an estimated PhP2,166 per month in the next 60 months or 5 years.
Timelines:
- Secure the product from HFI.
- Pilot test/run with OFWs in Hong Kong what are willing to try new facility.
- Target completion of testing and ready for offering to KsK Coop Members is May 2010
|
| Back to top» |
| |
JOIN THE REGULAR SAVING AND INVESTING PROGRAM
By end of April 2010, KsK Coop Members can invest in mutual funds particularly First Metro Save & Learn Equity Fund thru the KsK Coop’s RSI Program. This is the Regular Saving & Investing Program of KsK Coop for its members.A KsK Coop Member can make “small” investments of PhP500.00 to the mutual fund, coursed thru the KsK Coop. Payments are being explored to be made through the following:
- Going to the KsK Coop Office in Manila or in Hong Kong
- Thru Globe G-Cash or Smart Money (once the telco-mobile money has already accommodated KsK Coop as a merchant/biller)
- Thru remittance to the nominated bank account of KsK Coop for the RSIP
Please signify your intention in joining the program by sending an email to kskcoop@colaycofoundation.com. We shall do a pilot run by first week of April 2010.
|
| Back to top» |
| |
NOW AVAILABLE: EMERGENCY LOAN FACILITIES
In the January Board of Directors Meeting, it was agreed that an Emergency Loan Facility will be set up for KsK Coop Members. The reason for this is to limit the number of withdrawals by KsK Coop Members due to emergency situations. Providing them assistance would be a much better alternative. The loan facility is strictly for emergency purposes. Terms will be subject to the loaner’s financial standing in ksK Coop. An annual budget of PhP1M is proposed for the emergency loan facility. The following situations are considered emergencies:
- House damages caused by natural calamities in the Philippines (house should be under the name/ownership of the KsK Coop Member)
- Medical related emergencies that are life or death situations; or those that requires curative activities of illness of the KsK Coop Member.
|
| Back to top» |
| |
BIGGER AND BETTER, PLANS TO MOVE TO A NEW HK OFFICE
There are concrete plans to move to a new, bigger and better office for KsK Information Services Ltd. (the satellite office of KsK Coop in Hong Kong). The prospect new office address is 1516 Queen Victoria ST. 17/f 1701 Yue Shing Commercial Bldg. Central Hk. Target transfer is in May 2010.THESE WERE SENT EARLIER IN POWERPOINT WITH IMAGES ATTACHED.
|
| Back to top» |
| |
Chowking National Convention
The yearly Chowking Convention among franchisees were held last Feb. 17-19, 2010 at the Imperial Waterpark Resort & Spa in Lapulapu, Cebu. The KsK Coop owned (thru KMP Foods, Inc.) was acknowledged as one of the new and upcoming franchisee of Chowking.
Majority of the convention was hosted by the popular TV personality, Mr. Boy Abunda.
Tony Tan Kak Tiong, also graced the occasion together with other Chowking Management officials.
KsK Coop Chairman, Francisco J. Colayco is the main guest speaker not only as a Chowking franchisee but his status as a well know and best selling author.
 |
|
 |
| FJC delivering speech as guest of honor in Chowking Franchisee Convention |
|
FJC and Tony Tan Kak Tiong, CEO of Fresh ‘N Famous-owner of Chowking, Jollibee, Red Ribbon, Greenwhich, Delifrance |
| |
|
|
 |
|
 |
| FJC with Tata balbuena, Managing Director of KMP Foods (KsK Coop) and Boy Abunda and Feng Shui Expert Marites Allen |
|
Francisco Colayco (FJC) – KsK Coop Chairman with
Tata Balbuena – KMP Foods Managing Director
Armand Bengco – KsK Coop General Manager |
| |
|
|
 |
|
 |
| Tony Tan Kak Tiong and KsK Coop G.M. Armand Bengco |
|
FJC & Erwin Elechicon, President-Fresh ‘N Famous President |
|
| Back to top» |
| |
REPORT BY KMP FOODS MANAGING DIRECTOR
During the Chowking National Convention held in Cebu last February 19, 2010, Francisco J. Colayco and Tata Balbuena met to discuss the recent developments of KMP Foods (KsK Coop’s) Chowking Franchise in One Mango Avenue, Cebu City.
Based on their discussion these are the CHANGED target dates to look out. Please note that these are different from those presented last January 2010 KsK Coop News. Changed target dates are as follows:
April 5, 2010 (originally set on January 2010)
• Turn Over of Lessor (Solara Development Corp) to KMP Foods. The delay is due to Solara Development Corp.
March 8 to 15, 2010 (originally set on the 1st week of February 2010)
• screening of dining and kitchen crew applicants
March 1-31, 2010
• processing of permits and preparation for construction
March 16-30, 2010
• screening of two (2) additional management Trainees (MTs)
April 1 to May 31, 2010
• hiring and training of two (2) additional Management Trainees (MTs)
May 1 to 22, 2010 (originally set on the 3rd week of February)
• hiring and training of dining & kitchen crews
May 24 to 30, 2010 (originally set on the 3rd week of March 2010)
• team building and store dry run
June 2 or 9 or 11 or 14 or 15, 2010 (originally set on the 1st week of April 2010)
• Store opening date
|
| Back to top» |
| |
BANK ACQUISITION UPDATE INVITATION FOR DIRECT PROJECT PARTICIPANTS
KsK Coop has completed the acquisition of the Rural Bank of Cavite City (RBCC). Atty. David Alegre established the bank in October 25, 1956. At the time of KsK Coop acquisition, his third son, Roberto G. Alegre was president.
Highlights of KsK Coop’s Acquisition of RBCC.
What Was Paid
Bank |
|
P 5,500,000 |
Bayad Center |
|
P 1,000,000 |
Total |
|
P 6,500,000 |
What was Acquired:
| Estimated cost of bank license: |
|
P 5,000,000 |
| Appraisal Increment on bank premisesbased on appraised market values: |
|
P 7,000,000 |
Appraisal Increment of 9 out of 19 ROPAproperties
(FMV = P36M, Cost = P4.0M) |
|
P32,000,000 |
(Note: Zonal Valuation of all 19 properties is P 16.0M) |
|
|
| SUB-TOTAL |
|
P44,000,000 |
| Less: Net book value of Bank: |
|
P 7,384,000 |
| Net Acquisition Value: |
|
P 36,616,000 |
More significant than the increased acquisition value versus the total amount paid, the rationale of the KsK Coop bank acquisition are as follows:
- KsK Coop members access banking services such as depository accounts and loans. Remittance services can also be facilitated.
- Bank’s Co-Ownership of KsK Coop and Individual KsK Members
Currently the bank offers the following services:
- Regular Savings Accounts
- Special Savings Accounts
- Time Deposits
- Loans (though limited): commercial, agricultural, housing and others
- Bayad Center facility
In the next three (3) months, April to June 2010, the following activities will be done:
- Make-Over of Physical Bank Premises
- Enhancement of Bank Protection and Security
- Institutional Strengthening
- Training of Personnel
- Records and Bookkeeping
- MIS – Computer Systems
- Marketing and Sales
- Upgrade Legal Documentation
- Outsourcing of services
- Liquidation of ROPA (mortgaged assets repossessed by the bank)
Similar to the KMP Foods project, KsK Coop individual members can be beneficial PART-OWNERs of the bank. Qualifications are as follows:
- have at least five (5) shares paid-up
- minimum participation of Php50,000 and multiples of such thereafter
- execute a declaration of trust document
- understand and accept that they will not ‘withdraw’ their direct ownership of the bank for the next five (5) years
|
| Back to top» |
| |
|
