A country’s central bank, the Bangko Sentral ng Pilipinas (BSP) in our case, sets “policy rates” that in turn influence the rates applied by the banks. These rates are the interest rates at which commercial banks can borrow funds from (or “deposit” funds into) the BSP by selling (...
FBR revised property valuations are still a bit lower than the actual market rates, however the gap is quite narrow as compared with old DC rates regime. This will help the government to ascertain worth of properties across the country, as well as generate sizable tax income from the real e...
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that ar...
The repairs to the autothermal reformer are complete on the 1.8 million tonne methanol plant, Geismar 3 ("G3"). First methanol was successfully produced in late July and the plant is in the process of of ramping up to full rates. We have completed the repairs on the autothermal reformer a...