DTI-PSB warned OFWs for Blacklisted Cargo Forwarders worldwide to Safeguard Balikbayan Boxes.

 

The Department of Trade and Industry (DTI) has issued a list of unaccredited freight forwarders and consolidators and advised the public, particularly the overseas Filipino workers (OFW) and their consignees not to transact with the companies due to reported complaints of undelivered Balikbayan Boxes.

OFWs who will send their Balikbayan boxes and their consignees in the Philippines should book their packages only with reliable and PSB-accredited freight forwarders and Philippine agents to ensure that their packages will reach its destination, said Victorio Mario Dimagiba, director-in-charge of Philippine Shippers Bureau (PSB).

Foreign principals and cargo consolidators abroad usually have Philippine counterparts, which must be accredited by the PSB if it is a sea cargo forwarder and Civil Aeronautics Authority of the Philippines (CAAP) if it is an air cargo forwarder, a statement from the DTI said.

Senders may verify the company name of Philippine Sea freight forwarder counterpart at www.dti.gov.ph  or they may visit our Philippine Consulate Offices abroad.

Dimagiba also told senders to be aware of very low door-to-door rates offered by foreign principals.

"With low rates, they (foreign principals) do not have enough funds to bear the cost of transporting cargoes, and they fail to remit delivery funds to their Philippine freight forwarders, causing the shipments to be abandoned at the ports and not being delivered to consignees," said Dimagiba.

To avoid being a victim of unscrupulous cargo forwarders, the public is advised to regularly monitor advisories and alerts from DTI-PSB and refer to the blacklist of unaccredited freight forwarders available at offices of Overseas Worker Welfare Administration, Bureau of Customs, DTI-Regional Offices in the Philippines, and for senders abroad, they may visit Philippine Embassies and Consulates, Philippine Trade and Investment Centers (PTICs), Consumer Agencies of Foreign Government and Freight Forwarders Regulating Agencies of Foreign Government.

DTI named the following local freight forwarders/Philippine agents with no DTI-PSB accreditation and are now subject of complaints on undelivered packages:

The following are the local freight forwarders/Philippine agents with no DTI-PSB accreditation and are now subject of complaints on undelivered packages:

1. 2GO Express Inc (Case No. 2012-09-134)
2. Aerosend (Case No. 2011-04-163)
3. Alas Cargo Phil. (Case No 2012-05-57)
4. Associated Consolidation Express (ACE) (Case No. 2010-05-44)
5. Dausan International Forwarder (Case No. 2012-09-132)
6. FACF Parcel Delivery (Case No; 2012-09-142)
7. FRS Philippine Freight Services Inc. (Case No. 2011-08-238)
8. International Cargo Forwarder (Case No: 2012-08-125)
9. J.J. Transglobal Brokerage (Case No. 2012-09-143)
10. JAR Cargo Forwarders (Case No. 2012-09-126)
11. Mail Plus Cargo Carriers (Case No. 2012-02-25)
12. Manila Broker (Case No. 2012-09-144)
13. Maru Cargo Logistics Phil (Case No. 2012-10-164)
14. R&M Cargo Services (Case No. 2012-10-155)
15. Rodah Cargo Manila (Case Nos. 2012-01-15 and 2012-09-140)
16. South Atlantic Cargo Inc. (Case No. 2012-10-154)
17. Trico International Forwarding (Phils) Inc. (Case No. 2012-09-141)
18. VCG Customs Brokerage (Case No. 2012-03-38).

Aside from the local freight forwarders, PSB in the same statement issued names of blacklisted foreign principals and consolidators abroad due to reports of undelivered packages and other violations under PSB Administrative Order No. 6 series of 2005 or the Revised Rules on Freight Forwarding:

List of Blacklisted Foreign Principals

United Arab Emirates:

1. Al Rodah Marine Cargo,
2. Cityline Cargo,
3. Dagupan Cargo Packaging Services,
4. Express Link Cargo Services and Smooth Express.

United States of America:

1. AAA Cargo Express Inc.
2. ABS-CBN Star Kargo
3. Aerosend
4. Alas Cargo
5. Associated Consolidations Express-Ace Cargo
6. FRS Phil. Freight Services Inc.
7. Shipping Express
8. South Atlantic Cargo.

Saudi Arabia:

1. Cargo Net Worldwide Services- formerly FAL World Express Cargo
2. Fil Asia Cargo Forwarders Phil
3. Global Cargo
4. RJM Freight Cargo Forwarders
5. WRJ Freight Forwarders
6. North and South Express Cargo.

Singapore:

1. Hagibis Express Pte. Ltd
2. Maru Cargo Logistics (s) LLP

Ireland:

1. Maharlika Enterpise Cargo Services
2. SCRL Cargo

Malaysia:

• Bayanihan Express

Australia:

• Dausan International Forwarder

Hongkong:

• Ford Cargo International

Cyprus:

• Trico International

Likewise, PSB advised the public to refrain from transacting with the following blacklisted accredited freight forwarding companies which were issued Show Cause Orders by DTI and are subject of complaints regarding balikbayan boxes: 

• D' Winner Logistics Phil. Inc  
• LCSN Express Movers Inc,
• MC Plus Inc.
• Transtech Global Phil Inc.
• Wide wide World Express Corp.

For consignees in the Philippines who have not received their packages from freight forwarders, they may contact DTI (02-751-3330) or go to PSB Office to file an immediate claim or complaint. (DTI/PIA PND)

Philippine Shippers Bureau Contact Numbers

• +63 -2- 751-0384 Local 3304 to 3307
• +63-2-751-3304
• +63-2-751-3305
• +63-2-751-3306
• +63-2-751-3307

For more information click this link to access our Philippine Shipper's Bureau  link

NOTE: It is also advice to all OFWs to ask your forwarders in your country where you are situated now "What is the name of their local forwarders here in the Philippines" and check our list if those names are not blacklisted otherwise, refrain from making transactions with them to avoid troubles of your Balikbayan packages. Some of the above Blacklisted Balikbayan Box Forwarders have different branches in other different countries which are not listed above such are South Korea, Japan, Kuwait, Bahrain, UAE etc. Note the above list for your reference or download the PDF file in the link below.

To download the PDF File PSB Blacklisted (As of October 2, 2012) Please click this link

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NASDAQ: Buy Indonesia Philippines Emerging Asia ETFs to Beat China, India - ETF News and Commentary

Buy These Emerging Asia ETFs to Beat China, India - ETF News And Commentary

During the last decade, the two emerging giants within the 'BRIC' club delivered blazing growth and increased their influence in the global economy. It was expected that China would become the world's largest economy within 20 years and India would become the third largest by 2050. However both these countries are currently facing significant challenges, that prohibit them from repeating their stellar performance of the past anytime soon.

China, India: The Slowdown Continues

Last week, the IMF cut the growth rate estimates for both these countries and warned of rising risks if the Euro-zone crisis worsens and U.S. does not avoid a 'fiscal cliff'. (Read: 3 ETFs to Prepare for the Fiscal Cliff)

The World Bank also lowered its growth forecast for East Asia and predicted a more pronounced slowdown in China, cutting its growth rate estimate for the country from 9.3% to 7.7% due to weaker exports and lower investment growth.

Slow-down in China may be much worse than earlier expected, partly due to strong measures taken by the authorities in 2010-11 to slow down the overheating economy and curb the real estate bubble. Further the country has been somewhat slow in launching easing measures as it prepares for the big leadership transition later this year. (Read Obama or Romney? Win with these ETFs)

Additionally, China's population is ageing and it has already lost its low-cost manufacturing advantage to some of its smaller neighbors. While the country has renewed its efforts to promote domestic consumption and has made some progress in rebalancing the economy away from exports, the consumption is still just about 35% of GDP.

India's pace of growth is slowest in about a decade mainly due to rising inflation, widening fiscal and current account deficit and a weakening currency. Rating agencies have downgraded the outlook on the country's credit of late and warned that it may be downgraded to junk status.

Though the country has announced some major market reforms recently, the Indian government's commitment to implement the reforms still needs to be seen, more so in view of the strong political opposition to the measures. (Read: India ETFs-Getting Back on Track?)

Domestic Demand will be Key to Growth in Emerging Asia

The investors should therefore look at some other emerging countries in Asia that have better growth prospects in the near-to-medium term. Two such countries are Indonesia and Philippines, which are shielded to a great extent from the global economic headwinds largely due to thriving domestic demand (about two-third of GDP).

Further both these countries have relatively low credit-to-GDP and loan-to-deposit ratios and ample scope for credit growth which will further fuel the domestic demand. (Read: Forget Brazil, Mexico ETF is Hot)

Philippines

Philippine economy grew at an impressive 6.1% during the first half of the year, much better than expectations.

S&P recently raised the country's debt to 'BB+' from 'BB', one notch below investment grade with a stable outlook. Earlier in May, Moody's had raised its outlook on Philippines based on their expectation of "continued fiscal consolidation and finance-ability of the Government".

While an improving fiscal situation (fiscal deficit is 2% of GDP), low inflation rate (~3%), comfortable foreign exchange reserves position (up five hold since 2005) and a stable currency have been factors in driving the growth, the country faces some significant obstacles like poor infrastructure and corruption.

Thanks to its large educated young population (country's median age is 22 years) that can speak English, Philippines has been growing in popularity as a BPO destination and has emerged as a tough competitor to India.

Long-term fundamentals for the economy look good in view of the stable political situation and the popular government that seems committed to accelerate the pace of reforms in the country.

iShares MSCI Philippines Investable Market Index ( EPHE ) is a low-cost and convenient way to get exposure to the country's equity market.

Indonesia

Indonesia's economy has grown at an annual rate exceeding 5% in seven of the past eight years, mainly due to increasing consumption by the rising middle class.

The economy is expected to grow at 6.0% and 6.3% respectively in 2012 and 2013 (per IMF) after an impressive 6.5% growth in 2011. Moody's and Fitch have recently upgraded the credit rating of the country to investment grade.

Foreign exchange reserves have risen to $109 billion (as of August 2012) from about $20 billion in mid 1997. At the same time, the external debt has declined from over 150% of GDP in 1998 to 26.7% of GDP in 2011.

The central bank left the rate unchanged at 5.75% (for the eighth month in a row) last week, though it now has much more flexibility to cut rates as inflation is down to 4.3%. But the currency has taken a beating this year as the imports surge to meet the rising domestic demand while exports have come down, weakening the current account position.

The investors have a choice of two Indonesia specific ETFs: Market Vectors Indonesia Index ETF ( IDX ) and iShares MSCI Indonesia Investable Market Index Fund ( EIDO ).

NASDAQ

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France Prime Minister will visit the Philippines for the very first time for Business

French Prime Minister Jean-Marc Ayrault will undertake an official visit to the Philippines from October 19 to 21, the Department of Foreign Affairs announced on Tuesday.

Accompanied by a 130-member delegation, comprised of Ministers, parliamentarians and businessmen, Prime Minister Ayrault's visit will mark the first ever visit of a French leader to the Philippines since the formal establishment of diplomatic relations in 1947.

"Prime Minister Ayrault's visit does not only represent a milestone event in Philippine-French relations. More importantly, it sends a strong signal that France has taken serious notice of the positive developments in the country, and is ready to earnestly engage the Philippines as a vibrant and dynamic partner," the DFA said.

Relations between the two countries have steadily progressed through the years, highlighted by the visit to France of the late President Corazon C. Aquino in July 1989 as Chief Guest during the bicentennial of the French Revolution. France was one of the first countries to recognize the government of former President Aquino at the height of the 1986 People Power Revolution.

"Through the theme: 'Enhancing Philippine-French relations through political, economic and cultural cooperation,' we are confident that the visit of Prime Minister Ayrault will infuse renewed dynamism to our bilateral ties and propel our partnership to greater heights," the DFA added.

The three-day visit will be highlighted by a meeting in Malacañang between the French Prime Minister and President Benigno S. Aquino III, who will reciprocate the honor bestowed on his mother, former President Aquino, when she visited France in 1989. Both leaders are expected to exchange views on moving bilateral relations forward, as well as on regional and multilateral issues.

Economic relations between the two countries have been improving. Total bilateral trade amounted to $1.143 billion in 2011. French investments in the Philippines grew in 2011 with total approved investments of P1.145 billion, up by 90 percent compared to the previous year. French companies, such as LaFarge, TOTAL, AXA, and Alcatel, have strong presence in the country and have committed to increase their investments in the coming years. Global companies such as RATP Dev and Thales have likewise expressed interest to participate in the bidding for flagship projects under the government's Public-Private Partnership (PPP) program.

A Philippine-French Business Forum will also be held on October 20. The Forum will serve as a venue for the Prime Minister Ayrault's accompanying delegation of key French businessmen to have a first-hand look at the strength of the Philippine economy, and the bright opportunities for doing business in the Philippines.

During the Forum, several business contracts will be signed and announced. The members of the French business delegation represent global players in various sectors like energy, aviation and aeronautics, transportation, infrastructures, electronics, healthcare and environment.

The visit will also affirm the heightening exchanges of the two countries in the area of cultural cooperation with the signing of an Agreement on the holding of the Grand Exhibition "Philippines – Art of Exchange" at the Musée du Quai Branly, the premier museum in France for indigenous art and culture, from April 9 to July 21 2013 in Paris.

The Exhibition will put the Philippines in the cultural map of France and is expected to attract thousands of French, European, and international visitors, as well as generate media exposure. Side events will be organized during the Exhibition to include workshops on Philippine cuisine, Philippine dances, Philippine musical instruments, and others.

Prime Minister Ayrault will end his visit in Cebu where he will witness a presentation on the Bus Rapid Transit (BRT) project, which will be partly financed by the Agence Francaise du Developpement (AFD), the French government's development cooperation arm.

There are about 50,000 Filipinos in France and about 4,000 French nationals in the Philippines. Most Filipinos in France are engaged in the services sector and skilled professionals. In 2011, Filipinos in France remitted a total of $51.3 million.

philSTAR

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