Thursday, April 18, 2013

iBlog:The 9th Philippine Blogging Summit


Hello everyone. We are now gearing up for iBlog9: the 9th Philippine Blogging Summit (#iblog9). In this regard, we would like to invite interested speakers to submit a topic proposal for consideration on or before April 15, 2013.
iBlog9 will take place on May 31 and June 1 at Malcolm Theater, College of Law, U.P. Diliman, Quezon City.
The first day will focus on Blogging for Business and Advocacies (entrepreneurs, corporations, non-government organizations, and similar entities). We prefer to receive proposals on topics that can help businesses and organizations better understand how they can tap blogs as a marketing and promotional tool, and how to work effectively with bloggers to achieve that purpose.
The second day will focus on topics of interest for Bloggers in general, such as blogging must-know, social media, blogging policies, taking blogs to the next level, among others. We are also interested in hearing experience of bloggers from different parts of the country.
Submit your topic proposal on or before April 15, 2013. The approved topics and speakers for the summit will be posted before the end of April as we open for registration.
Thank you.
WHAT: iBlog:The 9th Philippine Blogging Summit
WHERE: Malcolm Theater, Malcolm Hall, UP Diliman, Quezon City
WHEN: May 31 and June 1, 2013
Registration will start on April 22, 2013.
Visti here: http://iblogph.org/

Wednesday, April 17, 2013

HIGH INVESTOR CONFIDENCE IN DOTC AFCS PROJECT ATTRACTS MAJOR PLAYERS!


 Manila, Philippines – A total of nine (9) consortiums involving major local and foreign conglomerates, banks, and IT companies submitted eligibility documents to the Department of Transportation and Communications (DOTC) and the Light Rail Transit Authority (LRTA) last Friday (April 12), in an effort to qualify as bidders for the P 1.72-Billion Contactless Automatic Fare Collection System (AFCS) Public-Private Partnership Project.

“We are very pleased with the investor turnout for the AFCS Project.  Serious players from the transportation, IT, banking, and retail industries – both local and foreign – all came out to seek pre-qualification to participate in the bidding of the project,” the Transport Department said.

The DOTC believes that this is proof of high investor confidence in the project, as well as in the agency itself.

“The fact that these major groups want to be the our private sector partner for the AFCS Project only goes to show their trust and confidence in the Department, and in our open, fair, and transparent bidding process,” added the DOTC.

The 9 consortiums which submitted their qualification documents are:

  • AF Consortium, composed of BPI Card Finance Corporation, Metro Pacific Investments Corporation, Smart Communications, Inc., Globe Telecom, Inc., AC Infrastructure Holdings Corp., and NTT Data Corporation.
AF Consortium will also rely on the required experience of Bank of the Philippine Islands, Octopus Transactions Ltd., SMRT International Pte. Ltd., Cubic Transportation Systems (Australia) Pty. Ltd., Accenture, Inc., MSI Global Private Ltd., and Indra Sistemas, S.A.

  • Comworks Consortium, composed of Comworks, Inc., Philippine Gaming Management Corp., Kaohsiung Rapid Transit Corp., Acer, Inc., Infochamp Systems, Corp., and Berjaya Philippines, Inc.
  • E-Trans Solutions Joint Venture, Inc. Consortium, composed of Tera Investments, Inc., Eastwest Banking Corp., Sagesoft Solutions, Inc., Pilipinas Micro-Matrix Technology (PMT Joint Venture), Inc., and Pulsar Avancer Technologie, Inc.
E-Trans Consortium will also rely on the required experience of Kentkart EGE Elektronik San. Ve Tic. A.S., Kentkart Marmara Elektronik Turizm San. Ve Tic. A.S., Kentkart Cukurova Elektronik San. Ve Tic. A.S., and JTKC Equities, Inc.

  • Lamco Consortium, composed of Lamco Paper Products Co., Inc., New San Jose Builders, Inc., Landbank of the Philippines, and NEC Philippines, Inc.

Lamco Consortium will also rely on the required experience of Busan Transport Corp. and Samwon FA Co., Ltd.

  • Mega Lucky United Consortium, composed of Asia United Bank Corporation, Dignitas Equity, Mega Cellular Network, Inc., and Gravitas 777.
Mega Lucky Consortium will also rely on the required experience of Korea Smart Card Corp. and LG CNS Co. Ltd.

  • Megawide-Suyen-Eurolink Consortium, composed of Megawide Construction Corp., Suyen Corp., and Eurolink Network International Corp.
Megawide-Suyen-Eurolink Consortium will also rely on the required experience of EZ-Link Pte. Ltd. and China National Software and Service Co., Ltd.

  • MTD-PRLM Consortium, composed of MTD Capital BHD and Puregold Realty Leasing and Management, Inc.
MTD-PRLM Consortium will also rely on the required experience of Puregold Price Club, Inc., Maybank Philippines, Inc., and Transit Link Pte. Ltd.

  • San Miguel Transport Solutions Consortium, composed of Optimal Infrastructure Development, Inc., Catchweight Holdings, Inc., Deltacrest Holdings, Inc., and Allcard Plastics Philippines, Inc.
San Miguel Consortium will also rely on the required experience of Petron Corp., Philippine National Bank, Singapore Technologies Electronics, Ltd., Korea Railroad Corp., Korail Networks Co., Ltd., Vix Technology (East Asia), Ltd., and San Miguel Corporation.

  • SM Consortium, composed of SM Investments Corp., BDO Capital and Investment Corp., Advanced Card Systems, Ltd., and Pentacapital Investment Corp.
SM Consortium will also rely on the required experience of SM Retail, Inc., BDO Unibank, Inc., and Goldsign Data Company, Ltd.

The joint DOTC-LRTA Pre-Qualification, Bids, and Awards Committee (PBAC) has a maximum of twenty-five (25) days from April 12 to evaluate the qualification documents submitted by the 9 consortiums, and to announce the shortlisted groups.  Actual bidding is scheduled to take place in the third quarter of this year.

Visit here: http://www.dotc.gov.ph/

DOTC MOVES LAGUINDINGAN AIRPORT OPENING FOR PASSENGER CONVENIENCE!


 Manila, Philippines – The Department of Transportation and Communications (DOTC) today announced that it has decided to push back the transfer of the gateway to Northern Mindanao from the old Lumbia Airport in Cagayan de Oro City to the new P 7.8-Billion Laguindingan Airport by one-and-a-half months to June 15, 2013, in order to avoid disrupting passengers’ travel plans over the summer.

The Transport Department has conducted a walk-through at the Laguindingan Airport and was very pleased with the Civil Aviation Authority of the Philippines’ (CAAP) preparations for the intended April 30 opening.  However, CAAP has received requests from airline companies to postpone the transfer until after the summer peak season, because the April 30 opening would require the cancellation of several daily trips.

According to the airline companies, their representatives were encountering difficulties in reaching a substantial number of passengers who had already purchased tickets for flights in April and May, to inform them of changes in their flight itineraries.

“It is in the best interest of the government and of the airlines to deliver safe and convenient services to the public,” said the DOTC. “As we took stock of the assessment of both CAAP and the airline companies that the Laguindingan Airport is already a safer alternative to the Lumbia Airport, we again listen to their inputs saying that postponing the transfer will be better for passenger convenience.”

“The postponement will give the airlines ample time to inform their customers of their new flight schedules at Laguindingan Airport.  This will lessen the possibility of disrupting travel plans and causing inconvenience to the riding public,” added the DOTC.

The airlines which operate at Cagayan de Oro are Cebu Pacific Air, Philippine Airlines, PAL Express, and Zest Air.  They serve a combined total average of over 2,000 passengers daily. 

The Laguindingan Airport is a key infrastructure project which is crucial to unlocking the Cagayan de Oro-Iligan Corridor to more tourism- and agriculture-oriented activities.
The government has previously announced that it will be temporarily operated by CAAP using Visual Flight Rules (VFR) until its air navigation equipment is fully in place by May 2014.

Friday, April 5, 2013

GAME CHANGE: The AUDISEE Launch Party!





AUDISEE Productions I n cooperation with B - Side

presents

GAME CHANGE: The AUDISEE Launch Party
Featuring performances by:

Game Theory (https://www.facebook.com/gametheoryband?ref=ts&fref=ts)

The Squibs (https://www.facebook.com/thesquibs?ref=ts&fref=ts)

IndayBote  (https://www.facebook.com/IndayBoteMusic?fref=ts)

Amongst Wolves (http://www.facebook.com/amongstwolves)

Iray  (https://www.facebook.com/iraypilipinas?fref=ts)

Kursonada  (https://www.facebook.com/kursonadaband?fref=ts)

Plagpul  (https://www.facebook.com/Plagpul?fref=ts)

Strawberry Bomb
(https://www.facebook.com/pages/Strawberry-Bomb/326241087407037?fref=ts)


AND AN OPEM JAM AFTER!

B-Side, The Collective  7274 Malugay st., Makati

Gates open at 8pm  Show starts EXACTLY at 9pm

Entrance: P150 inclusive of one free beer

Bring your friends. Bring EVERYONE. It's gonna be fun..!

Let's change the music industry one wicked party at a time, shall we?

SEE YOU THERE!

AVID MEMBERS HEADLINE ICON INNOVATION IN MOBILITY EXPO, APRIL 5-7, 2013!

        The Association of Vehicle Importers and Distributors (AVID) once again convenes top minds from the government, business, and academe at the third Thought Leadership Forum (TLF) in partnership with the Department of Science and Technology (DOST).

Dubbed ICON (Innovation Congress), this year’s TLF is a milestone for AVID with its powerhouse events--the ICON forum on April 5 and the Innovation in Mobility Expo, which runs April 5-7, 2013 at The ICON on 32nd Avenue cor. 9th St., Bonifacio Global City, Taguig City. Admission to the Congress and Expo is free.

Themed “Action Towards Viable Innovation for Development,” ICON marries AVID’s core mission of fostering the development and growth of the Philippine automotive industry and the country’s economy, with DOST’s National Innovation Strategy.

ICON will serve as a platform for an exchange of ideas and advocacies among respected thought leaders and innovators on the importance of innovation as a way to prosper in an increasingly competitive global environment.

The ICON Forum will tackle global trends in innovation and current issues and policies that affect the automotive industry, with emphasis on competitiveness driven by innovative thinking. While the Innovation in Mobility Expo AVID translates the Forum’s innovation dialogues to actual innovation products and projects of AVID and the DOST.

“AVID member companies take pride in the innovation philosophies of the top world brands that we represent. Innovation has driven us to become formidable players in the automotive industry. We share with DOST the vision and commitment to foster and intensify a mindset for innovation that will boost our country’s ranking in the global competitiveness indexes, with the end of being recognized as a worthy player in the global business arena,” explained AVID President Ma. Fe Perez-Agudo.

“ICON will be a ‘delivery room’ for more innovation that will foster a shift toward a ‘smart’ society… of integrated systems that will bring about bigger improvements  in the areas of smart agriculture, health services, smart traffic management, energy, and meteorology and weather forecasting to name a few. Innovation is something we should encourage. It is the only way that we can transform our resources into something that would benefit the Filipino people,” said DOST Secretary Mario G. Montejo.

At the Expo, participating AVID member companies will showcase their vision of the future of smart mobility. Following are the models that will be on display:

MINI Paceman Sporting prowess and versatility define driving this urban piece of technology. It features dynamically stretched coupe lines and the hallmark MINI “go-kart feel” that teams up with the exclusive ambience of its versatile interiors. Its two doors, large tailgate, full-sized individual rear seats, and inimitable style shout crossover functionality.


    Chrysler 300C, the new look of luxury. When it’s time to work, we roll up our sleeves and get dirty.  But we can also clean up nice. The Chrysler 300C’s  exterior has been totally reimagined with chiseled lines, a more aggressive stance, jeweled LED lights and, of course, the signature grilles. Hard work has never looked so beautiful.




Dodge Durango has the Power to Tow whatever moves you: Best-in-Class available V8 Power+ - up to 360 hp; Best-in-Class standard and available Towing - up to 7,400 lbs+; and Best-in-Class V6 highway Driving Range (over 550 miles).




JEEP Grand Cherokee the most awarded SUV ever


The SLK Roadster heritage traces to history's first checkered flag. Its heart races at the mere thought of the open road. From the irrepressible passion of Mercedes-Benz engineering is design sculpted to slice through the wind and carve through corners, performance that says, “Let it all out. Take it all in,” and technology that is driven by ingenuity and fueled by imagination.

THE COVENANT CAR COMPANY, INC. (TCCI)


Chevrolet Colorado Built on nearly a century of Chevrolet trucking heritage, this pick-up is engineered with the best combination of power, durability, comfort, and economy in its class. Its new, state-of-the-art Duramax engine has undergone rigorous tests, under tough and varying engine loads in Africa, Asia, and North and South America. Plus, its strong and stiffer chassis gives better driving feel and handling on all terrains. It’s definitely the heavy-duty drive for the tough and adventurous driver.

Chevrolet Spark The 2013 Chevrolet Spark is a small car with a massive attitude. Equipped with a dependable and fuel efficient 1.2 or 1.0 liter engine, it can zip through city traffic or zoom through an open highway. Despite its size, it has a spacious interior that can comfortably fit five adults. To accommodate flexible cargo loading requirements, the second-row seats are capable of folding to a 6:40 split ratio. Apart from its global quality standards built, the new Spark is designed to promote fun with its motorbike-inspired digital driver information center, dual cockpit layout, cool entertainment system, and improved exterior and interior details.

HYUNDAI ASIA RESOURCES, INC. (HARI)

Hyundai i-oniq concept car. The electric sports hatchback marries gentle feature lines with a muscular surface. Adding to the appealing body are doors that open up to the side; a “penthouse roof” that creates much room for rear passengers; impressive user-interface components that reflect contemporary and future consumer electronics; an innovative 1,0-litre, 3-cylinder gas engine that generates a maximum of 45 kW (61 ps) that is mated to an 80 kW (109 ps) lithium-ion electric motor powered by a 55 kW generator. On electric mode alone, the i-oniq can travel 120 kilometers (km) and up to 700 km with the assistance on fuel petrol engine, emitting just 45 g/km of CO2. At top speed, the i-oniq can reach a maximum of 145 km/h.

Hyundai Azera makes a commanding presence with its 19-inch Alloy Wheels and 245/40 R19 tires. Up close, it’s even more impressive with its panoramic sunroof and power seats that feature extendable seat cushions. The Infinity Sound System promises an entertaining journey while the dual front, side and curtain airbags and driver knee airbag secures passengers from harm. Under the hood is an effortless flow of power coming from a Lambda-II 3.0L MPI engine. This is mated to an electronically controlled 6-speed automatic transmission.

Hyundai i40 boasts pure European pedigree, having been designed in Russelsheim, Germany. Part of its sleek, sporty look can be credited to 18-inch Alloy Wheels and 225/45 R18 tires. It runs on a U-II 1.7L CRDi VGT diesel engine mated to a more compact, smoother and quieter 6-speed A/T. From the inside, the twin-panel panoramic sunroof controls the amount of light that enters the cabin. The power tailgate of the i40 makes it convenient to fill up its spacious 553-L luggage compartment.


Hyundai All-new Santa Fe Inside and out, this mid-size luxury crossover cuts a rugged yet refined and luxurious presence. The turbocharged ReVGT 2.2-liter Diesel engine delivers an unbridled intensity of 197ps at 3,800 rpm, and one of the highest torques of 43 kg-m at 1,800-2,500 rpm in its class. Flawlessly mated with a 6-speed H-Matic transmission for outstanding fuel economy, it perfectly combines power and fuel efficiency. Safety-engineered features include the new High-Strength Steel Structure; a new Airbag System for the Premium 4WD A/T variant; Electronic Stability Program that employs the Hillstart Assist Control, Downhill Brake Control, and Brake Assist System; and the Electric Parking Brake with Auto Vehicle Hold that prevents the vehicle from accidentally rolling away when standing still or setting off.

Hyundai Sonata Hybrid is similar to its traditional counterpart except for the unique front grille and LED headlight accents with daytime running lights. It will definitely wow with its excellent fuel economy and powerful performance when on Electronic Vehicle Mode (EV mode). True to its earth-saving nature, it is equipped with ECO technology that monitors the driver’s green driving style.

United Asia Automotive Group, Inc. (UAAGI)

Foton Thunder FOTON exceeds customer expectations by introducing a high-performing vehicle, custom-made for pickup truck aficionados. Thunder boasts an array of safety and security features along with optimum power, first-class appearance, robust stance, and luxurious comfort. Its sizable cargo compartment allows more baggage space and its wide body offers added space and convenience for its drivers. 





Focus Ventures, Inc.

King Long Max Keeping in mind space and comfort, this light commercial vehicle is designed with an improved high-roof ceiling, a 2+1 seat arrangement, accessible back row, and increased luggage space that can accommodate up to 16 passengers and more baggage, sans crowding. The airy cabin design, robust power, entertainment features, and safety conveniences make the King Long Max a reliable road companion for families, especially for long drives.

Scandinavian Motors Corporation (SMC)

Volvo S60 Without trying too hard, this Scandinavian beauty deserves second glances, not just for its looks, but also for its street-smart programming. For example, at 31 mph or less, its City Safety detector automatically applies the brakes when it detects a stopped or slower-moving car, which is perfectly useful when you’re tired or frantically looking for something that you dropped while at the wheel.




Volvo XC60 The 2013 Volvo S60 T5 AWD features a best-in-class 250HP-turbocharged engine that excels in fuel efficiency at 29 mpg and acceleration with a 0-60 time of 6.6 seconds. What’s more, its first-in-the-world Pedestrian Detection technology with full auto break keeps a watchful eye out for people or cars unexpectedly crossing its line of path.




For more information about ICON, contact the AVID Secretariat at +632 5191015; Mobile +63932 8524731; Email secretariat@avid-inc.com.ph. Or visit www.avid-inc.com.ph.


ABOUT THE ASSOCIATION OF VEHICLE IMPORTERS AND DISTRIBUTORS (AVID)

AVID is a private non-stock, non-profit business association founded in July 2010 in the Philippines. Its membership consists of leading players in the Philippine automotive industry that advocate for the effective management of diverse commercial, consumer, and legislative aspects that affect the industry and the overall economy. Established in response to the need to accelerate government and business initiatives towards improving industry competitiveness, AVID partners with industry experts from the government and private sectors to provide reasonable and objective information about free and fair competition and consumer welfare. This is how AVID assists policy makers in the crafting of a system of laws and regulations that will advance the competitiveness of the Philippines and all stakeholders concerned. 

Wednesday, April 3, 2013

Pythagoras and the Mystery of Numbers


Pythagoras and the Mystery of Numbers

Pythagoras
         Pythagoras was the first of the great teachers of ancient Greece. Born in 580 B.C., Pythagoras became one of the most well known philosopher and mathematician in history. Creating the Pythagorean Brotherhood, his teachings greatly influenced Socrates, Plato, and Aristotle. Pythagoras is considered as the first pure mathematician; he also founded a community/society based on religion and science. He is most widely known as the author of the Pythagorean Theorem. Some even venture to believe that the word “philosophy” was invented by Pythagoras. He claimed to be a lover of wisdom, for which the Greek word philo means love and Sophia means wisdom.
         The Teachings of Pythagoras revolved around the idea that when considering the deepest level, reality is essentially mathematical in nature. Pytahgoreans believed there was a system of principles existed behind numbers. The principles form a foundation for many concepts of traditional Western thought. One of his most basic notions revolves around the symbolism and beauty associated with the Divine Proportion.
         Pythagoras expressed his thoughts and ideas by using words and symbols rather than numbers as we know them today. Instead, his ideas were based on many thoughts that we associate with numbers today. For instance, a point is the essence of a circle. A series of symbolic forms were constructed to mirror the concepts of the universe. Using a compass, straightedge, and writing utensil, mathematical philosophers created these symbolic representations.
The Mystery of Numbers
         Of all shapes, the circle is the parent of all following shapes. When a circle is mirrored, two mirrors are created. These two circles side by side build a foundation for all numbers. The overlap of the circles allows each one to share the center of the other. This shaped created is called the vesica piscis (Latin for “fish’s bladder”). From this shape, a triangle, square, and pentagon can be produced. And the relationship between these figures justifies the existences of further number principles.
Vesica Piscis
         Believing that nothing exists without a center, mathematical philosophers started with a point and drew a circle around it. This symbol is called the monad and represents the number one. This figure is the most stable, and the mathematical philosophers also called it The First, The Essence, The Foundation, and Unity. Pythagoras believed the monad to be god and the good. The monad is origin of the One. The monad is the seed of a tree for which the numbers are to the monad as what the branches of a tree are to the see of a tree. The monad in relation to other numbers preserves the identity of every other number or anything it encounters. Any number multiplied by one is itself, and any number divided by one is itself.
         “The Pytahgoreans believed that nothing exists without a venter around which it revolves. The center is the source and it is beyond understanding, it is unknowable, but like a seed, the center will expand and will fulfill itself as a circle” (Hemenway 51).
Monad
         In order for ‘one to become many’, the circle (or one) must be transformed by a reflection. By contemplating itself, the circle is able to become many. It is replicated with each circle sharing the center of the other. The geometry of creating a line that connects the two center of the circles furthers the principles of all following numbers.
         The dyad involves the principles of “twoness” or “otherness”. Greek philosophers referred to the dyad as “audacity” because of the boldness of separation from the one, and “anguish” because there is still a sense of tension of a desire to return to oneness. They believed that the dyad divides and unites, repels and attracts, separates and returns. “Pythagoras held that one of the first principles, the monad, is god and the good, which is the origin of the One, and is itself intelligence; but the undefined dyad is a deity and the evil, surrounding which is the mass of matter” (Aet. 1. 7; Dox. 302). The dyad is the door between the One and the Many. Recall the symbolic figure of the vesica piscis. The vesica piscis is a passageway to the journey of spiritual self discovery. The notion of fertility is associated with its vulva shape, and is thus related to the passage of birth.
Dyad
         The triad represents the number three. It is the first born and the eldest number. The equilateral triangle serves as its geometric representation and is the first shape to emerge from the vesica piscis. The triangle contains the smallest area within the greater perimeter. The number three is the only number equal to the sum of the previous numbers. For instance, one plus two equals three. And three is also the only number whose sum also equals their product. Or, one plus two plus three equals one times two times three. The triad signifies prudence, wisdom, piety, friendship, peace, and harmony. The triangle represents balance and is a polygon of stability and strength.
Tetrad
         The triangle can be extended beyond the vesica piscis by extending the lines through the corners to the opposite sides of the circle. Connecting these new lines with horizontal lines creates a larger triangle. Extending lines to further fill the vesica piscis results in a ‘profound harmony’.
The next shape emerging from the vesica piscis is the tetrad. Using logic to construct the tetrad, philosophers drew a horizontal and vertical line connecting the centers and the intersecting points of the two circles. Then, when a circle is drawn along a line that connects the two centers, a perfect shape of a square exists within the circle. Four is associated with justice, wholeness and completion. There are four seasons, four ages of man, four directionsFour is the first number formed by addition and multiplication of equals. It is the first “female” number because it is the first even number.
Tetrad
The shape of the pentad follows as the symbol of life itself. The pentad consists of all previous numerical symbols: monad’s point, the dyad’s line, the triad’s surface, and the tetrad’s three dimensional volume. The pentad also refers to the well known five point star. The pentad arises in the existence of our five fingers, five toes, the symbol that wards off evil, and a symbol for power and immunity. Because of the importance of the pentad, the construction of the symbol was first kept secret from society. The pentad was used as a secret sign among the Pythagoreans for them to distinguish themselves and recognize other members.
Pentad
The pentad’s symbolism can be directly related to the Divine Proportion. And the regeneration of the pentad is related to the value of phi (Ф). The image of the pentad is found in nature in leaves and flowers. The Greeks believed each point of the pentad to represent an element: water, earth, air, fire, and idea. Early Christians used the pentad to represent the five wounds of Christ. The symbol, when the point is directed downwards, was later used as a sign for Satan and the Devil.
Regenerations of the Pentad
The decad represents the number ten. Instead of simple numeric and geometric interpretations, the decad further extends to the idea of a new beginning of limitlessness. Symbolizing both world and heaven, the decad helps us to understand the creation of the universe. The monad times the dyad times the pentad (one times two time five) results in the decad. Since any number times ten is similar to any number times one, it is similar to the monad; however, the number is brought to a higher level.
Decad
“Ten is the very nature of number. All Greeks and all barbarians alike count up to ten, and having reached ten revert again to the unity. And again, Pythagoras maintains, the power of the number 10 lies in the number 4, the tetrad. This is the reason: If one starts at the unit (1) and adds the successive number up to 4, one will make up the number 10 (1 + 2 + 3 + 4 = 10). And if one exceeds the tetrad, one will exceed 10 too…. So that the number by the unit resides in the number 10, but potentially in the number 4.” (Aetius 1.3.8)
Conclusion
Early philosophers found harmony in numbers. The symbolism and beauty behind each number can be further extended to the essence of all following numbers. The mysteriousness behind the theories founded by Pythagoras and his followers is certainly deeply inspiring and symbolic.

For further reading:
“Divine Proportion: Ф (Phi) In Art, Nature, and Science” by Priya Hemenway.

Monday, April 1, 2013

Common Home Loan Mistakes Pinoys Make

By Mark B. Aragona for Yahoo

Buying a home is one of the most important and—because of the expenses involved—nerve-wracking experiences in the life of a typical Filipino family. Applying for a loan allows a family to get the house of their dreams without having to spend most of their lives saving up for it. That said, applying for a home loan is not something you want to rush. It takes planning, communication, and an awareness of these common home loan pitfalls:

1. Delaying your application.
 So you’ve picked the lot and the design of the house, and you’re ready to start paying for it. But you applied for the home loan too late—a costly mistake. 

Considering the amount of documentation, financial checks, and assessments bank take, home loans tend to be a tedious, well-drawn-out processes that take 1 to 2 months, depending on complexity. Potential borrowers should provide enough time for the application process or they might find themselves overrun by housing expenses (particularly construction-related) before their funds are released. 

2. Getting the lowest rate in the market and opting for a short-term re-pricing. 
Of course, your aim is to find the right rate that matches your cashflow, but sometimes borrowers gloss over the fine print with their loan interest rates and end up biting the bullet later. 

Usually, the lowest loan rates are offered only on a promotional basis (e.g. good for 1 year, then subject to re-pricing), and the borrower gets hit with the “real” rate later on. This is often the case when interest rates have been falling for some time. Banks can offer locked-in rates, but never as low as the short-term rate. Borrowers shouldn’t try to play the rates; instead, they should focus on maintaining a stable rate that their cashflow can accommodate.

3. Misdeclaring finances. Banks require all potential borrowers to fill up a financial questionnaire. Here, you would have to declare other loans, expenses, and all streams of income. The trouble happens when borrowers try to outsmart the bank by withholding or misdeclaring information in order to either to increase the loan amount they can qualify for or increase the likelihood of approval. This can be a costly mistake because banks will always check and verify information. 

Since banks also share information with other banks, they will eventually know your payment history and if you have a third credit card or an auto loan that you are paying for. This will draw out the loan process, as the bank will then have to recollect the correct information from you. Worse, this may cause the bank to question your integrity, and in some cases decline your home loan application altogether. 

4. Ignoring “miscellaneous” fees and title processes in buying homes.
 This is more a problem with buying a home rather than getting a loan—but borrowers often consider only the selling price of the house when budgeting and ignore the other fees that come along with purchasing a house, such as title transfer, taxes, etc. This leads to a problem similar to item 1, as non-payment of these fees will delay the loan process by preventing banks from placing a mortgage on the property, thus preventing the disbursement of the loan. 

Always consult your property agent, developer, or if need be, talk to a lawyer to ensure you are aware of the mortgage and titling processes in your city. 

5. Forgetting about insurance. Insurance is an integral part of the budget for borrowing. Bank mortgages require at least two kinds on the part of the borrower: fire insurance for the property itself, and a mortgage redemption insurance (MRI) for the borrower—all to cover the amount of the loan proceeds in the event of worst case scenarios. An MRI is basically a life insurance policy with the bank as the beneficiary, put in place in case of the borrower’s untimely death. Both types of insurance are needed to disburse the loan proceeds, and both have their own process. If you don’t apply for insurance on time, then you risk delaying your loan. 

6. Not negotiating. 
Within reason, everything is negotiable in buying homes and applying for home loans, particularly finances fees and closing costs. Negotiating important costs like the price of your house and your loan’s interest rate may save you a lot of money in the long run. Give it a try, and if it doesn’t work out to your liking, you always have the option to walk away.