Tuesday, June 19, 2012

Investing in the Philippines - Pitfalls and Traps!

This is fundamentally how we manged to obtain more than enough money to live off, with only a meager annuity (£300/month approx) and not having to work.

We (myself, my wife, and her daughter) deposited Php7.5M in some 5 x Legacy Group Banks, and were receiving Php141,666.67pm in Tax Free Interest payments, in Total. That is up to middle of December 2008, when all 12 x Legacy Group Banks got closed by the 'Monetary Board'.

But these Bank Deposits are covered by the PDIC, so we should get paid our insured deposits. Trouble is we did not anticipate ALL the Banks we had deposits with, closing at the same time, when only 1 x Legacy Group Bank, had previously closed, since 1997 - some 11 years.

I had anticipated that it might take up to 6 months (since PDIC website gave this as 'worst case' scenario). They PDIC website also gave notices where the PDIC proudly announced a 'Turn around Time (TAT)' of 10 x working days, or less ie single digit TAT!


MRB Date
Bank Closed
Claims Announced
Claims Filed
To Claim
Since Claim
Pilipino Rural Bank
Rural Bank of Bais
Bank of East Asia
Phil. Countryside Rural Bank
Rural Bank of DARBCI

The above is a Summary on the Number of 'Working Days' the PDIC have had for processing and validating claims, prior to payments being made. We have been paid 9 out of 10 Claims for 'Bank of East Asia' (my wife still waiting for her Php250,000 Single Account payment). I have also received 1 x 'half share' of my Joint Account, with my wife, for our Claim @ Pilipino Rural Bank.

My wife was asked to submit a signed and Notarized Affidavit of Co-Ownership (as she had for her 2 x Joint Accounts @ BEA). But that was over 3 weeks ago, and still no payment check from the PDIC for Pilipino rural Bank!

There are therefore still 8 x outstanding Claims from us, for Pilipino Rural Bank. This still leaves 9 x outstanding Claims at the 3 other Banks we had Deposits with.

At least we have been paid about 20% of our Nett Claims (some Deposits at 3 Banks had 'Advance Interest', and we anticipate up to 99% of that payment being deducted from Insured deposit).

I know some Depositors, who have yet to receive anything, from the PDIC, so far!

SECTION 14. Whenever an insured bank shall have been closed by the Monetary Board pursuant to Section 30 of R.A. 7653, payment of the insured deposits on such closed bank shall be made by the Corporation as soon as possible either (1) by cash or (2) by making available to each depositor a transferred deposit in another insured bank in an amount equal to insured deposit of such depositor: Provided, however, That the Corporation, in its discretion, may require proof of claims to be filed before paying the insured deposits, and that in any case where the Corporation is not satisfied as to the viability of a claim for an insured deposit, it may require final determination of a court of competent jurisdiction before paying such claim: Provided, further, That failure to settle the claim, within six (6) months from the date of filing of claim for insured deposit, where such failure was due to grave abuse of discretion, gross negligence, bad faith, or malice, shall, upon conviction, subject the directors, officers or employees of the Corporation responsible for the delay, to imprisonment from six (6) months to one (1) year: Provided, furthermore, That the period shall not apply if the validity of the claim requires the resolution of issues of 23 facts and or law by another office, body or agency including the case mentioned in the first proviso or by the Corporation together with such other office, body or agency. (As amended by R.A. 9302, 12 August 2004)
I am no Lawyer, but I will be consulting with one since it is now 5 months since submitting Claims at 4 x Legacy Group Banks.

I want to know, if we can legitimately files a Claim for "grave abuse of discretion, gross negligence, bad faith, or malice" against the PDIC, for not making Claims payment "as soon as possible", once they fail to make payment "within six (6) months from the date of filing of claim for insured deposit", If during this 6 months ,since filing ones 'Insured Deposit Claim', the PDIC made no effort to communicate ,via Telephone, regular mail, or e-mail, for further documentation and proof of valid Deposit, from the Depositor, then they can hardly go asking asking a "court of competent jurisdiction", if the PDIC themselves, have not attempted to determine "viability of a claim for an insured deposit" from the Depositor themselves, first?

Actually this DELAY in getting paid our Insured Deposits, by the PDIC, is only part of our financial crisis story.

We had also placed some funds in Legacy Consolidated Plans Inc.  

This was an SEC Licensed Pre-Needs Plan Dealer, according to the SEC website. Investment Scam Checklist Legacy Consolidated Plans Inc. seemed to pass that Investment Scam Checklist of the SEC.

It was only when the Pre-Needs Buy Back (PNBB2) product was being withdrawn at the end of October 2007, that I decided to risk some funds that I could perhaps afford to lose.

Why take the RISK as there was no Insurance or Guarantee - other than Philippines 'Anti - Bouncing Check' Law - Batas Pambansa Blg. 22 (BP 22)

An Act Penalizing the Making or Drawing and Issuance of a Check Without Sufficient Funds or Credit and For Other Purposes.
Because I was GREEDY (if I have to be honest)! Php100K was the minimum Investment, that promised to become Php200K on Maturity of the Pension Plan, on Maturity in 3 Years time (PNBB2 plan).

The 'Buy-Back Agreement' that was asked to be signed, offered the opportunity to get i) 20% back IMMEDIATELY (so only Php80K Nett Investment required), ii) the 180K Balance, paid over Quarterly Installments over 36 Months.

This meant one got 75% of their Nett Investment back after 12 Months, and 93.75% after 15 months. The APR was 41.67%pa so that was the 'attraction', coupled with getting 17.5% of the Total Return (approx 50% Interest and 50% Capital), with each Check cashed.

Following the Senate Hearings into the Pre-Need Industry it has been shown that the SEC was woefully unequipped to Control and Regulate the Pre-Needs Industry.

SEC moved to DTI after pre-need mess

Well I was ignorant of the details revealed in those Senate Hearings, but I did not keep quiet on learning about this and reading the Pre-Need code ammendments, still waiting to be come law! In the 'Money Smarts' section of ' The Inquirer', I read

Tales of woe from Legacy scam victim


Posted under Pre-Need, scams

So I posted a COMMENT in reply:-
I had signed up to ‘Pinoy Money Talk’ and posted (Bitster) about my views on this Legacy Consolidated Plans “Pre-Needs Buy Back Plan”

You can read it here:- http://www.pinoymoneytalk.com/forum
Basically one invests a minimum of Php100K, into a 3 Year ‘Classique B’ Pension Plan. ‘LCPI’ claim such Pension Plan offered a Maturity Value, Double that of the Pension Plan Contract Value. Hence ‘DYM3′ or “Double Your Money in 3 Years” scheme.
Perhaps this does sound “Too Good to be True” but I thought it worth checking out.
1) If one follows the SEC Anti SCAM Flow Chart, Legacy Consolidated Plans Inc. seemed to pass all the checks, suggesting it was NOT a ‘SCAM’!
It appeared to be a genuine Pre-Needs Company, Registered and Licensed by the SEC.
(As of September 9, 2008)
Carolina G. Hinola - President 330 The World Center Bldg.. Sen. Gil Puyat Ave. Makati City Fixed Value Education/Life/Pension 148826 E-mail: www legacy com.pn
SEC Registration Number = 148826
2) At the time I placed my 1st PNBB2 investment, I was NOT aware of thePre-Need NEW RULES?
Have you come across this Document and actually read it?
The PDF document I created from that URL is dated 27/09/2007 19:25:33 - after my PNBB2 investment.
3) Rule 13. Disclosure to Prospective Planholders
Rule 13. Disclosure to Prospective Planholders
13.1. No Pre-Need Plans registered with the SEC shall be sold unless an Information Brochure has been filed pursuant to Rule 4.1,par.4 (c) and approved by the SEC together with the Registration Statement and is made available to the prospective Planholder . Had I known about this Rule 13, perhaps I should have refused to part with my money until they showed me a copy of this SEC approved Information Brochure and Registration Statement.
To my knowledge LCPI have NEVER made such Documents available to prospective planholder, so they are in breach of Rule 13, and the SEC are lax in not enforcing it.
4) So in ignorance of that particular RULE 13, I went ahead and bought a 3 Year ‘Classique B’ Pension Plan.
Unlike many ‘Educational Pre-Needs Plans, whereby you make installment payments, monthly over a number of years, then there is a payout on Maturity, this 3 Year ‘Classique B’ Pension Plan. that we bought, was ‘Fully Paid’ @ Day 1.
5) Trust Fund Protection Had this ‘INVESTMENT’ not been hiding behind the face of a legitimate Pre-Needs Pension Plan, we might NOT have put any money into it!
I certainly would not have parted with my funds, if it was Legacy Card Inc. directly promising to pay us Php180,000 over 3 Years via Quarterly Post Dated Checks or Credits to a OneCard ‘Pera Agad’ MasterCard.
Rule 16. The Trust Fund
16.1. To guarantee the delivery of Benefits such as monetary consideration, cost of services rendered or property delivered, deposits shall be made by the issuer into a Trust Fund to be established for each type of plan in accordance with the rates used in the actuarial studies submitted under Rule 4.1, par. 7 (i) (C).
16.2. The minimum limits of the deposit contribution to the Trust Fund shall be 45% of the amount collected for life plans and 51% of the total amount collected for other plans unless a higher deposit contribution is determined by the actuary and duly approved by the Commission.
So according to Rule 16. The Trust Fund, of such 3 Year ‘Classique B’ Pension Plan, should have received 51% of all those Pension Plans SOLD!
6) If one does research into these SEC Rules regarding Trust Funds, since it is clear from these RULES, that funds of one Trust Fund can not be withdrawn, except under very specific circumstances - like the MATURITY payout or pre-termination.
Only the SEC approved Trustee can withdraw funds from an SEC approved Trustee Bank, so if such Trustee BROKE the RULES, how are we ‘Planholders’ expected to know about this? Clearly the SEC are not aware of this eother since they kept issuing Licence Renewals to LCPI.
So Ron should withdraw this outlandish statement , that we the PNBB2 Planholders “help loot the trust funds of genuine plan-holders”
7) Rule 17. Investment of the Trust Fund
Most Pre-Needs companies are now complaining it is currently impossible to meet 12%pa as the Actuarial figure. Even with compounding 12%pa, on just 51%, will not/ can not grow to 200% in just 3 Years, and conform with SEC Rule 17. Investment of the Trust Fund
8) “Deed of Assignment” the “Buy Back Agreement”
We were forced/coerced to sign such agrreement to avail of this “Double Your Money in 3 Years” promise.
We were not given the OPTION of JUST buying 3 Year Classique B’ PENSION PLAN that had a Maturity Value Double that of the PPC Value.
So we SOLD the Pension Plan to Legacy Card Inc
Maybe this does in fact mean we are no longer the Registered Planholders and thus not entitled to the pay out of the Trust Fund.
But I will wait until a Judge in a Law Court pronounces this, rather than Ron Speers!
i) Did LCPI have a License from SEC to offer a Pension Plan claiming to have a Maturity Value Double the Pension Plan Contract Value, with Maturity just 3 Years later?
I would also like to bet, that no such SEC approved Pension Plan exists that goes from 51% in the Trust Fund, and invested, to cover 200% payout on MATURITY, some 3 Years later!
If not, does this make the SALE, illegal, and thus ‘Null and Void’ and we get given our Nett payment back?
ii) What will be the Judges verdict on that “Deed of Assignment” Contract where the 1st Party, the Owner of the Pension Plan, never got given a copy of the Contract signed by the 2nd Party as Buyer, and Notarized to this effect. ?
OK let us assume the WORST CASE and the Judge awards in favour of Legacy Card Inc. being the legal owners of the Pension Plan.
If Legacy Card Inc, as owners of such PENSION PLAN are able to get hold of the Trust Funds before Maturity Date in any case?
The answer should be NO, unless the Trustee brakes the Rules of the Trust Fund, OR they pre-terminate the PENSION PLAN before Maturity Date.
Read the “GENERAL PROVISIONS” on the Back of the Pension Plan Contract Application form, that we signed to purchase said Pension Plan (that may or may not have been transferred to Legacy Card Inc as new Owner)
XV. PLAN TERMINATION VALUES While this Contract is in force before the Maturity Date, you may surrender this Contract and you will be entitled to termination values in lieu of the pension credits contained in paragraph III, as follows:
PAYMENT RECEIVED, PLAN TERMINATION VALUES Over 80%, 50% of total payments made
After the Termination values are paid to you, we shall be discharged from any liability or obligation in this Contract”
So if Legacy Card Inc, want to pre-terminate, with 100% of gross contract Value paid by us, they should ONLY be entitled to 50% of the Gross Contract Price
But wait Legacy Card Inc, have applied to be dissolved, claiming they are insolvent.
So what happens to all the funds, supposedly paid into the Trust Fund and invested by the Trustee Bank?
Well WE the Pre-Need Buy Back investors, dont have the money and some of us are filing Syndicated Estafa Claims in the Courts, to try and get back at least what we paid in, if not the value of the Checks, no longer honored.
Certainly WE PNBB2 Investors have not taken any money from school children who were expecting Tuition Fees to be paid out of a Scholarship Pre-Needs Plan
David Whittall

I spent Php25,000 chasing after getting some of my Investment back from the Courts. This was acting as Witness for the BSP to procecute Celso et al for Syndicated Estafa. The BSP in return for our assistance, PNBB2 proof, and co-operation, had negotiated with DOJ Secretary Justice, Gonzalas, to waive the Filing Fee.

Well it seems Gonzalas may have been bought off with nice retirement as he now has new Job, working for President GMA. He dis a U-Turn on waiing that Filing Fee when Celso's lawyers lodged a complaint.

They also amazingly manged to have it Ruled that all cases (except the ones in Cagayan de Oro?), had to now be tried in a Regional Trial Court in Makati (regardless of where the 'Crime' took place under Criminal Prosecution)

So I may well have to now find funds to pay the Filing Fee if the new Secretary Justice turns down our appeal to still waive that filing Fee.

· DOJ chief: Filing fee stalling estafa cases vs pre-need firm

· Don’t give preneed firms refuge from victims, Palace appeals to courts

· DOJ helpless vs pre-need firms, says Gonzalez

· New trust fund increase to protect planholders

Filing Fee can be calculated as (Claim Amount x 1%) - Php4,000 for Claims over Php0.5M, ie Claim for Php1M will require a Fillng Fee of Php6,000.00

I also put funds into "V8 MOTORCYCLE & PARTS DEALER" If you read my Blog on that particular Investment, you might better understand why I decided to RISK some funds in that particular investment?

This all started to come apart from January 16th when Post Dated Checks (PDC's) started to 'bounce'. We should have filed BP22 charges back then, rather than trust sole proprieter Catherine L. Soronio, that we might help keep Oriental Bank (RB of Mabinay) and Cardinal Rural Bank afloat, if we deferred payments for 6 months, and payments continued in 3 months time.

We stupidly waited 3 months to then learn Soronio never even paid Zongshen Php10M for the 900 x V8 Motorcycles that had been imported fully knocked down, and then assembled in the Toro Motors warehouse, Mandaue, Cebu.

The fact that Soronio never even spent Php10M of that first batch of Php100M that had been raised by us 'Angel Investors' in July 2008, and was now April 2009, showed it to be a SCAM/Fraud from the beginning - we had been given nothing but empty promises and lies.

So I have so far spent Php6,000 towards group Legal representation, via Atty Estandarte, and Php30,000 as Filing Fee, for 5 x Claims of Php1M in a case of Syndicated Estafa against Catherine L. Soronio et al.

Soronio ignored requests to sit down at a Negotiation Table, to avoid the very real possibility that the City Prosecutor may way uphold, that we do indeed have enough evidence against 5 x conspiring offenders, for a Case of Syndicated Estafa (that is non-bailable crime), she and the other named, may well end up in Jail, for the length of the Trial?

Instead Catherine L. Soronio filed a Complaint Affidavit with Bureau of Immigration.
She was hoping the BI would deport me (and at least 4 other Foreigners who had filed charges of Syndicated Estafa against her)

The ‘premise’ being, that we were ‘working’ as Motorcycle Dealers, and that we did not have the required Employment/Investor Permits.

Soronio also threw in, we had not paid any Income Tax.

All I can say is, if that is her best line of defense, to avoid going to Jail, as Syndicated Estafa is a non-bail able offense, then she was badly advised, and rather ignorant about us ‘investors’ she had stolen funds off with her fraudulent Scam.

Of the 5 Names listed in her Complaint Affidavit to BI, myself and one other, are Permanent Resident Status (13A Visa), and hold ACR I-Cards.

BI clearly made no effort to look up our respective Immigration status before individually a ‘Notice of Hearing’

Here is that bltch Cathy Soronio, who enticed us to part with our funds with 100%pa returns from Zongshen Motorcycles imported from China, Then the Checks start bouncing from Jan 16th 2009. She asks for our co-operation for a 3 month Moratorium, that we reluctantly agree to! Then she wants us to then accept waiting 6 years to get the Balance, rather than 4 months.

Most investors don't find that acceptable, and don't trust Soronio to honor any new agreement, and deliver payment.

Whatever she did with that P350M (figure Quoted by her own Finanance Department to prospective investor considering P10M), it was NOT spent exclusively on V8 Motorcycle Dealer & Parts business?
That was the stipulation in the 'Bank Resolution', agreeing to the 'Bank Guarantee'.

Soronio refuses to come up with any offer of settlement, when sent a 'Demand Letter' advising her of obligations under 'BP22', she just ignores it!

She should not have been surprised to receive Notice of Preliminary Investigation?

She may not have believed that our Atty. Estandarte felt there was enough evidence to file 'Syndicated Estafa', however?

As this is non-bailable offense, Soronio is potentially facing Jail time until Trial concludes or is dismissed.

She naturally does not like the sound of that, so decides to see if she cant have some of the 'trouble makers' removed, by sending a Complaint Affadavit to the BI?

The BI issues a Notice of Hearing to 1 x Brit, 1 x Swede, and 3 x Americans, stating they have 7 days to give a reply or counter affidavit, or face deportation ie they don't attend the Hearing?

I have sent my answer to Atty, Henry B. Tubbad, requesting a 'postponement' of the Hearing, until we are furnished with copies of the Annexe A-E mentioned in Soronio's Complaint Affidavit.

How can we give a counter Affidavit in 7 days, if we are not party to all the evidence the accused presented to justify such action by the BI? It could be something completely different to the MOA, the Bank Guarantee, the Oriental Bank Resolution.

I have requested that any subsequent Hearing be held in Cebu for a number of reasons including my heart condition, and the fact the complainant, her Company and the Bank offering the Guarantee, are all in Cebu. I also mentioned that the BI in Mandaue, Cebu were the ones to issue my 13(A) 12 months probationary in October 2002, then 12 months later the conversion to permanent 13(A) Visa, giving me permanent Residence status here in the Philippines. It was also BI Mandaue, Cebu, that issued me with my ACR I-Card No.239566 on June 16, 2006.

I also included an 'Exemption Certificate' issued by the Department of Labor, in Cebu, stating that I, as a Permanent Resident, evidenced by that ACR I-Card No. 239566, am exempt the need for an 'Alien Employment Permit' (AEP).

Atty. Estandarte does not believe this is applicable as all Investors Visa's issued by BI, are not relevant to this 'Dealership MOA contract, that states:-


This agreement, entered into by and between:

RDT Building, Tipolo, Mandaue City, Philippines
represented by: ALBINO V, LIGAN, Authorized Representative


1) The First Party is engaged in the DEALERSHIP Business of Motorcycle and Parts ,
V8 (brand) - Honda Technology by JIANGSU ZONGSHEN Motor Tricycle Manufacturing Co. LTD.
2) The First Party offers the Second Party a DEALERSHIP and INVESTMENT Proposal;
3) It is clearly understood by the Second Party that the First Party shall have the full authority to manage the
business operation
of the DEALERSHIP, so as not to burden the Second Party with the operational direction .
4 ) The First Party shall take charge of all operating expenses of the business such as, Showroom and Office
rentals, Telephone, Electric, Water bills and salaries of Employees and Staffs.
5) The First Party covenants to free the Second Party of any and all liabilities and warranties as a result from
the operation of the DEALERSHIP area Including employment issues and furthermore, the First Party shall
defend the Second Party on all cases arising as such.
6) The Second Party will receive an Official Receipt from the First Party upon investing.
7) It is clearly understood by the Second Party that It takes Fifteen (15) days to process the
following documents and shall be receive by the Second Party by then .
* Postdated checks for the monthly income and the principal amount.
as stated in the Bank Guarantee Agreement .
* Bank Guarantee Agreement
* Memorandum of Agreement
* Certificate of Dealership
B) It is clearly understood by the Second Party that there is no Pre Termination of the DEALERSHIP.
9) The Second Party accepts the DEALERSHIP and INVESTMENT Proposal of the First Party;

TERM OF INVESTMENT: 1 (one) year
MONTHLY INCOME: P 63,333 .34
10) This agreement is freely, voluntarily and knowingly entered into by both parties and that nothing herein
is stipulated that is contrary to law, rules, regulations and public policies.

Cebu City, Philippines,
Certainly neither Catherine L. Soronio, not Professor (James Lucero) mentioned any need for any Investors Visa not Employment Visa when they were taking our money to form these Groups of Php6M?

Why was there no clause on the Contract, asking us to confirm if indeed we held such Visa's (or exempt from doing so), if it was relevant?
I did NOT attend that HEARING, and have not been informed of any alternative Hearing Date?
I presume the BI have read what I wrote and decided that Soronio made them issue such Notice by not having checked our Immigration Status, and gave a false declaration under Oath.

Saturday, April 21, 2012

Buy Silver Online

Purchasing Power Preservation

In April 2005, when I turned 50, I perhaps stupidly cashed in my 3 x Private Pensions, taking the maximum 25% Tax Free Cash Lump Sum.

The 75% Balance had to be converted to an Annuity.  I selected Legal & General

I said stupidly, since on 5th April 2006, just 1 year later, the UK Government introduced many changes to Pension Rules.

As I was no longer living, or working in the UK, (having lost my job with Netrix Corp. then later Congruent International Inc.  I was not eligible for UK SIPPs Pension.

However I would have been extremely interested  in QROPS, whereby I could have transferred all 3 x Private Pensions into say a HONG KONG Pension Plan thet complied with QROPS requirements.

My £300 per month Annuity from Legal & General would give me more than Php32,000 in 2005 when the Exchange Rate was GBP1 = PHP105

Today the Exchange Rate is only GBP1 = PHP66.5 so I have lost 1/3 of my Annuity Value in Peso Terms.  What is more is Inflation over the last 7 years, particularly introduction of 12% VAT, diesel Fuel risen from Php14/liter to Php85/liter, Electric bills of under Php3,000/month is now nearly Php7,000.  Water has also doubled in price and also bottled LPG.

In short one now need Double the GBP funds to maintain the same Purchasing Power as one had in April 2005.

So how can one achieve /maintain good Purchasing Power?

My advice is to build up ones Personal Pensions for 10 years before retiring to the Philippines if at all possible.

The best way to do this is via SIPP and find a SIP Broker that allows Gold and/or Silver Bullion as a SIPP asset as one investment element.

Why Gold as an Investment Asset

Because Gold is traditionally a wealth preserver, 'hedges' against inflation and devaluation of paper currency,  especially in times of economic crisis.

However since USA unilaterally terminated the convertibility of the US Dollar to gold in 1971, under President Nixon, the USD became a 'Fiat' or national Currency gold has climbed in spurts, ever since.


The increase since 2003 has been an upward 'trend', reaching an all time high in August 2011 of $1,889.7/oz.  it is now down to about $1,642/oz

Had I bought 1oz. of Gold ($428) in April 2005, it would have quadrupled in value by today, some 7 years later.

Think about a significant portion of your SIPP Pension Plan having quadrupled in 7 years before you retire.  I would still have Double the Purchasing Power, instead of half.

Had I also been buying Gold through a UK SIPP and not getting the UK 40% Tax Savings on its purchase, it would still have been a good deal.

Some would rather invest in Stocks & Shares.  My exposure to such has been a disaster.

I was given Shares in Netrix Corp whom I worked for. Then after being made redundant, we were told we had to sell them or we would lose them.  They were Paper based Shares, and I needed a Broker to take delivery of such. It was also difficult to sell that Share Certificate so I bought Stock in two other Telecommunication Companies that were doing reasonably well.  Lost the lot as there was Class Action Law Suit against one, and the other re-acquired shares and then ceased trading them publicly!  The Broker was selling my Shares, to pay the Fees!

Google or Gold?

How would an ounce of Gold, as an investment asset, in ones IRA portfolio, perform against traditional Shares?

A 'Bet' that The Motley Fool posed to it's reader in 2005
"Would you rather own a share of Google or an ounce of gold?" I asked at the time. "Here's the stipulation: You have to put your choice under a mattress for the next 10 years. That's right. I'm taking something as volatile as Google and as cyclical as a gold coin and forcing you into a long-term commitment." 

A Share in Google Inc. [NADDAC: GOOGv.   1 ounce of GOLD

The Share Price of Google Inc. (NASDAC: GOOG) was $428.62 on 25th November 2005.
In comparison, Gold was traded for nearly $500/oz, on that same date.

The Google Inc. share price, is currently $606.07 today, having reached $714.87, on 07 December 2007.   That 'Peak' is an increase of 66.8% from that Dec. 2005 price, and a drop of nearly 18% from it's 'peak'.

From 25th November 2005, to April 2012 saw a $177.45 increase. That is 41.4% increase over approximately a 6.5 year period; an average improvement of about 6.3% pa.

Gold is currently $1,651.64/oz today, having reached an all-time high of $1,889.7/oz. on 22 August 2011. Gold achieved an increase of 278% from Dec. 2005 to that 'Peak', and a drop of just 12.6% from that 'high'.

An increase of $1,151.64,  or 230%,  over almost 6.5 years, gives an average of 35.4% pa. improvement for 1oz of Gold.
The Motley Fool Bet is not closed, since it expires on Nov. 30, 2015.

You still want to bet on Google improving significantly and/or  the price of Gold to crash down to below $700/oz, so Google (The Tortoise) might have a chance to beat (the Hare) 1oz Gold Price, that is way out in front in this Motley Fool Race?

Having Gold in ones IRA portfolio (as permitted by the IRS) can give a certain 'edge' over other traditional assets such as Stocks, Bonds or Mutual Trust Funds.

That example of the increase of Gold/oz price, compared to Google Inc. Share price, hopefully demonstrates the potential of a Gold IRA.

Switch some into Silver, if the Ratio (currently about 50:1) widens also.

Here is one Company offering sales of Gold to individuals and has a partner to Broker Gold SIPP  

Buy gold for your UK SIPP retirement plan from our partner SIPP specialist,
Berkeley Burke
They can also offer Gold IRA for those in the USA

Gold & Silver Individual Retirement Accounts

A tax efficient way to hold precious metal in your IRA

The Entrust Group, which is one of the leading providers of account administration services for self-directed retirement plans, has worked with a well established self-directed custodial account provider, The Kingdom Trust Company, to create a precious metals facility for Individual Retirement Accounts ('IRAs').

One of the ways this IRA facility can be used is to hold gold, silver, platinum and palladium with GoldMoney

Precious metals are a good way to preserve your purchasing power and optimise your investments. Our customers can easily purchase and hold precious metals at low cost, which we then store for them in secure, allocated storage. Our US customers can take advantage of these same features in their IRA.

More information

To open a self-directed IRA or to learn more about this process, please contact an IRA specialist at 1-800-392-9653. You may also email any questions or inquiries to PreciousMetals@theentrustgroup.com or visit the website of the The Entrust Group.

Buy Gold - Low and Transparent Prices

Friday, December 17, 2010

New Vehicle Registration in Philippines

The most common service that a motorist is looking for is the new registration of one's new and shiny car. As listed in our list of services post, you can see there that the first service that we offer, that is, the first service that we can assist you with is the registration of your car… either for new registration or renewal of registration.. both basically has the same requirements but this post is for the requirements for registering a new car.

Imported Motor Vehicle Registration Requirements

Here are the requirements for imported motor vehicles - cars, trucks, motorcycles etc.:-

  • Original Invoice
  • Certificate of Payments of Taxes
  • Confirmation of CP from Registration Section C.O.
  • CHPG clearance
  • Insurance Certificate of Cover
  • Actual Inspection of Motor Vehicle and duly accomplished MVIR
    (stencils of motor and chassis numbers must be done on the space provided for)
  • Early warning device (EWD)

  • That is the requirements needed to register a new car or vehicle that was imported from abroad.

    The first part was about New Registration locally assembled or rebuilt vehicles.
    Like we always say, if you ever need help or assistance with any LTO related services, including this one, you can contact us at our office or call/txt 09178801712

    I have no connection with the above Company, just liked their Summary of Requirements for LTO Registration of New Cars. Actually I was looking for information on this 3 Year Registration, since my Yamaha XT225 motorcycle, should have got Registered by Norkis, who sold me the Motorcycle, and the LTO who should have known such 3 Year Registration was applicable to Motorcycles over 200cc, and the XT225 is 225cc!
    Hyundai got my car Registered for 3 Years, back in May 2005.
    I bought a new Hyundai 'Matrix' 1.5 CRDi VGT in May 2005, and obtained the Registration Documents, and Number Plates with Registration and Insurance, valid for 3 Years.

    ie no vehicle inspection, emission tests, or insurance renewal until May 2008.
    Hyundai Cebu, Inc.
    address......A.S. Fortuna St., Banilad, Mandaue City, Cebu
    phone.........(032) 346 2724, 345 0324 to 26
    fax..............(032) 346 0187

    LTO issues rules on 3-year registration


    03 January 2005

    SUBJECT : Initial Registration Scheme for Brand New Motor Vehicles
    Valid for Three (3) years.

    WHEREAS, pursuant to Section 4 (d) [1], Article III, Chapter 1 of Republic Act No. 4136, as amended, the Assistant Secretary, with the approval of the Secretary of Transportation and Communication, shall have the power to issue rules and regulations prescribing the procedure for the registration of motor vehicles; and

    WHEREAS, pursuant to Section 5 of Batas Pambansa Bilang 74, all motor vehicles and trailers of any type used or operated on or upon any highway of the Philippines "shall be registered with the Bureau of Land Transportation (now the LTO or Land Transportation Office) for the current year, and that the dates of annual registration of motor vehicles shall be based on a registration scheme to be prepared by the Bureau of Land Transportation (now the LTO) subject to the approval of the Minister (now the Secretary) of Transportation and Communication."

    NOW, THEREFORE, and in pursuance thereto, it is hereby ordered that the initial registration of all brand new motor vehicles, as defined herein , shall be valid and effective for three (3) years from its first registration. Such initial registration shall require the Certificate of Conformity (COC), issued by the Department of Environment and Natural Resources (DENR), and the Compulsory Third Party Liability insurance policy valid for three (3) years.

    1.1. Brand new motor vehicles (MVs) – refer to new and unregistered motor vehicles manufactured, assembled, imported, distributed and/or sold by corporations or companies accredited by or member/s of the following, to wit:

    a. CAMPI- Chamber of Automotive Manufacturer of the Philippines, Inc.

    b. TMA – Truck Manufacturers Associations

    c. MDPPA – Motorcycle Development Program Participants Associations.

    1.2. Brand new motor – vehicles imported by other LTO accredited vehicles

    1.3. These exclude backyard – assembled and imported used motor vehicles

    1.4. Motorcycles with engine displacement of 200 cc and below are likewise excluded in this Order.

    2. Registration Rate – The rates of the Motor Vehicle User's Charge as set forth and imposed under Republic Act 8794 shall be collected from the owner of the covered motor vehicles for the registration of the said units.

    3. Apprehension/s

    3.1. Should the covered motor vehicle be apprehended within the period of its initial three (3) year registration for violation/s attributable to the motor vehicle, e.g. smoke belching or non-roadworthiness, the motor vehicle shall still be required to undergo the accessory penalty or penalties of passing the Motor Vehicle Inspection and/or Emission Tests.

    4. Repealing Clause

    4.1. Any memoranda or orders thereof which are inconsistent with the provisions of this Administrative Order are hereby repealed or amended accordingly.

    5. Effectively
    5.1. This Order shall take effect ninety (90) days after its publication in two (2) newspapers of general circulation in the Philippines or filling of three (3) copies thereof with the University of the Philippine Law Center.

    Assistant Secretary


    Department of Transportation and Communication

    With the implementation of the three (3) year initial registration of motor vehicles' scheme, on the other hand, drastically affected our volume of registered motor vehicle and cases handled because most initial motor vehicle registrations are handled by district offices situated in highly urbanized areas in the country.

    I bought a Yamaha XT225, brand new from Norkis, Mandaue Branch in December 2007 for Php160,000.00
    So why did the LTO not Register it for 3 Years. since the XT225 is 225cc?

    The LTO Branch in Talisay City (up behind Robinsons, to the right), did not even seem aware, that Motorcycles over 200cc are covered by that 3 Year Registration Ruling.

    LTO, Talisay City were also trying to maintain the Registration stated Color: Green yet there was White also!

    Norkis, Mandaue sorted this out. but only wanted to deal with LTO, Mandaue, not LTO Talisay City Branch.

    How do I know it got sorted?

    By Sending Text to 2600 and getting the following reply back:-
    Make: yamaha
    Model: xt225
    Year: 2007
    Color: green/white
    Registered Last: 10/07/2010
    has no LTO apprehension.
    has no LTO alarm.
    The Honda XR200 is196.9cc and now has Suggested Retail Price of Php131,900.00

    One reason I did not buy the Honda XR200 is because it is somewhat taller (with a seat of 858mm) compared with the Yamaha XT225 having a seat height of just 31.9" (810mm), meaning I could plant both feet flat on the floor comfortably.

    Another reason for choosing a Yamaha XT225 'Serow', being that Norkis were offering a 3 Year Warranty

    Posted Image How many spotted they got the image of the XT225 reversed?

    The best reason for going with a Yamaha XT225 'Serow', is that is is simply a damn fine bike, for 'green lane' riding in the Philippines.

    Check out this report on the 'capabilities of the small, agile, nimble, and pretty capable, little XT225 'Serow':-

    BIG BLOKE ON A GIRLS BIKEThe Yamaha XT225 SerowBy John Hutchinsonjohnhutch@compuserve.com

    I don't know how to put this without offending some peoples egos, but here goes - the Yamaha XT225 Serow is arguably the best trail bike in the world. A lot of people who have bought big, fast, powerful enduro machinery to go trail riding have probably chosen the wrong bikes.