Filipina charged for stealing $3.5M from cruise company (Philstar.com) - May 6, 2019 - 7:21pm MANILA, Philippines — A Filipina bookkeeper working for a luxury cruise company in Sydney, Australia was charged with 98 fraud offenses for allegedly stealing $3.5 million from her employer. Sydney Morning Herald reported Monday that Mary Ann Abellanoza was accused of stealing millions from Silversea Cruises in an allegedly “deliberate and calculated fraud” believed to have been perpetrated over four years in the cruise company’s Sydney office. According to the same report, there were two separate legal cases against Abellanoza, a 53-year-old mother from Plumpton in New South Wales: a criminal case before the Downing Center Local Court and a civil case filed by the cruise company before the New South Wales Supreme Court. NSW Supreme Court heard that Abellanoza, while she was branch accounting supervisor, … [Read more...] about Filipina charged for stealing $3.5M from cruise company
Failing companies 2018
This is the fifth Pwint Thit Sa report (Transparency in Myanmar Enterprises) undertaken by Yangon-based Myanmar Centre for Responsible Business (MCRB) in partnership with Myanmar consulting firm Yever. In 2019, the Myanmar companies with the highest transparency scores are City Mart Holdings (CMHL), First Myanmar Investment (FMI), Max Myanmar and Shwe Taung. These companies have consistently featured in the top 10 of previous Pwint Thit Sa reports and this year’s report found that all of them continue to improve their disclosures. At the other end of the scale, 108 (44 percent) of the 248 companies reviewed do not have corporate websites. Most of those these companies publish little or no corporate governance and performance data. First launched in 2014, this year’s report assesses information disclosure on the corporate websites of 248 large Myanmar enterprises, including five listed, 55 public, and 160 sizeable privately-owned companies. For the first time, it also … [Read more...] about Myanmar public companies trail behind private firms in corporate disclosure
What’s new for BPI in Makati and Aboitiz in Cebu? I was in Makati for a day to attend the Bank of the Philippine Islands (BPI) annual stockholders meeting where media from the Visayas and Mindanao were invited. Actually, it was the first time for BPI to invite the Cebu and Davao media to their annual stockholders meeting and it was good for me to meet with our old friends, Jaime Augusto Zobel de Ayala and his brother Fernando where we talked about the old days when they went to Cebu with their motorcycles to ride with us. Unfortunately our good friend, Bobby Aboitiz who played host with them, passed away two years ago. As the top honchos of BPI pointed out, BPI for the 1st Quarter of 2019 posted a 7.6 percent increase in its net income, which stands at P6.72 billion and up to 10.5 percent versus the 4th Quarter of 2018. In their joint message to the BPI stockholders, chairman Jaime Augusto Zobel de Ayala and President and CEO Cezar Consing, noted, … [Read more...] about What’s new for BPI in Makati and Aboitiz in Cebu?
AKCAKALE, Turkey — Like thousands of other Syrian refugees, Shakar Rudani worked last summer in Turkey’s Black Sea region, home to the largest concentration of hazelnut farms in the world. He arrived in August, expecting that he and his six sons, ages 18-24, would earn the equivalent of a few thousand dollars. He left in late September with little more than a firm resolution: to never return again. The work was arduous and risky. Because the terrain is filled with steep inclines, his sons spent much of their time attached by ropes to rocks, a precaution against a potentially fatal fall. Worse, the pay was $10 a day, half the rate promised by the middleman who had pitched him the job. “We made just enough to cover the cost of getting there and getting back,” said Rudani, a sun-baked 57-year-old who lives in a Turkish village on the Syrian border. “Plus our living expenses. We returned with nothing.” About 70 percent of all hazelnuts come from Turkey, … [Read more...] about News Where Ferrero gets its hazelnuts, Syrian refugees eke out a living